Is Getty Images Holdings, Inc.'s (NYSE:GETY) ROE Of 4.3% Concerning?
Is Getty Images Holdings, Inc.'s (NYSE:GETY) ROE Of 4.3% Concerning?
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. We'll use ROE to examine Getty Images Holdings, Inc. (NYSE:GETY), by way of a worked example.
我們可以通過投資自己的知識和技能來獲得最佳回報。因此，本文將通過使用ROE（淨資產收益率）來更好地理解業務的運營情況，以凱特圖像控股股份公司（紐交所：GETY）爲例進行分析。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
roe指股東權益回報率，是一種有用的工具，用於評估公司如何有效地從股東獲得的投資中產生回報。簡單來說，這衡量了一家公司相對於股東權益的盈利能力。
How To Calculate Return On Equity?
如何計算股東權益報酬率？
ROE can be calculated by using the formula:
淨資產收益率可以使用以下公式進行計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（從持續經營中獲得）÷ 股東權益
So, based on the above formula, the ROE for Getty Images Holdings is:
因此，根據上述公式，凱特圖像控股的ROE爲：
4.3% = US$30m ÷ US$689m (Based on the trailing twelve months to March 2024).
4.3％= 3000萬美元 ÷ 68900萬美元（截至2024年3月的過去十二個月）。
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.04 in profit.
“回報”是在過去的十二個月內稅後獲得的金額。我們可以理解爲，對於每$1的淨資產，公司能夠獲得$0.04的利潤。
Does Getty Images Holdings Have A Good Return On Equity?
凱特圖像控股的淨資產收益率如何？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As shown in the graphic below, Getty Images Holdings has a lower ROE than the average (7.4%) in the Interactive Media and Services industry classification.
判斷一家公司的淨資產收益率是否良好，一種簡單的方式是將其與行業平均水平進行比較。然而，由於同行業公司之間存在很大的差異，因此這種方法只是一個粗略檢查。如下圖所示，凱特圖像控股的ROE低於互動媒體和服務行業分類的平均水平（7.4%）。
That's not what we like to see. That being said, a low ROE is not always a bad thing, especially if the company has low leverage as this still leaves room for improvement if the company were to take on more debt. A high debt company having a low ROE is a different story altogether and a risky investment in our books. To know the 3 risks we have identified for Getty Images Holdings visit our risks dashboard for free.
我們並不希望看到這種情況。然而，低淨資產收益率並不總是壞事，尤其是如果公司的槓桿率較低，這仍然爲其留有提高空間。然而，高負債的公司低淨資產收益率則另當別論，是我們認爲比較冒險的投資。如需了解我們爲凱特圖像控股識別出的3種風險，請免費查看我們的風險儀表板。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
Companies usually need to invest money to grow their profits. That cash can come from retained earnings, issuing new shares (equity), or debt. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
公司通常需要投資以增加其利潤。這種資金可以來自留存收益、新發行的股票（權益）或債務。對於前兩種選擇，ROE將反映這種資金的用途，以期實現增長。在後一種選擇中，用於增長的債務將提高回報率，但不會影響總淨資產。因此，債務的使用可以提高ROE，但在像雨後春筍般發展的情況下，這也將伴隨着額外的風險。
Getty Images Holdings' Debt And Its 4.3% ROE
凱特圖像控股的債務和4.3％的淨資產收益率
It's worth noting the high use of debt by Getty Images Holdings, leading to its debt to equity ratio of 2.01. The combination of a rather low ROE and significant use of debt is not particularly appealing. Investors should think carefully about how a company might perform if it was unable to borrow so easily, because credit markets do change over time.
值得注意的是，凱特圖像控股使用債務較多，導致其負債股本比爲2.01。相對較低的ROE和較大量債務之間的結合並不特別吸引人。投資者應認真考慮公司的表現如何，如果公司難以輕鬆借款，該如何應對，因爲信貸市場確實會隨時間而變。
Conclusion
結論
Return on equity is useful for comparing the quality of different businesses. Companies that can achieve high returns on equity without too much debt are generally of good quality. All else being equal, a higher ROE is better.
股本回報率可以用於比較不同企業的質量。沒有太多負債即可實現高回報的公司通常質量較好。其他因素相等的情況下，較高的ROE更好。
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So you might want to check this FREE visualization of analyst forecasts for the company.
但是，在一個更廣泛的範圍內，ROE只是一個更大難題的一部分，因爲高質量企業常常以高倍數盈餘交易。因此，考慮其他因素是重要的，例如未來利潤增長和今後需要的投資有多少。因此，您可能希望查看該公司的分析師預測的免費可視化。
But note: Getty Images Holdings may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
但是請注意：凱特圖像控股可能不是最佳購買股票。因此，請查看此免費高淨資產收益率和低債務的有趣公司列表。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對本文有反饋？關注內容？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？ 對內容感到擔憂？ 請直接與我們聯繫。 或者，發送電子郵件至editorial-team@simplywallst.com。