Is Entegris, Inc.'s (NASDAQ:ENTG) ROE Of 9.2% Concerning?
Is Entegris, Inc.'s (NASDAQ:ENTG) ROE Of 9.2% 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. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Entegris, Inc. (NASDAQ:ENTG).
我們能夠做的最好的投資之一就是提高自己的知識和技能水平。基於這一點，本文將通過分析如何使用淨資產收益率（ROE）來更好地了解一個企業。我們將通過實踐學習，通過分析Entegris, Inc.（納斯達克：ENTG）的ROE，以更好地了解ROE，從而獲得更好的了解。
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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
roe或股東權益回報率是評估公司如何有效地從股東那裏獲得回報的有用工具。簡而言之，它用於評估公司相對於其權益資本的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算？
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算：
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 Entegris is:
因此，根據上述公式，Entegris的ROE爲:
9.2% = US$314m ÷ US$3.4b (Based on the trailing twelve months to March 2024).
9.2％= 3.14億美元÷ 34億美元（基於過去12個月，截至2024年3月）。
The 'return' refers to a company's earnings over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.09.
'回報'指的是公司過去一年的收益。因此，這意味着對於每1美元的股東投資，公司創造了0.09美元的利潤。
Does Entegris Have A Good ROE?
Entegris有良好的ROE嗎？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. If you look at the image below, you can see Entegris has a lower ROE than the average (15%) in the Semiconductor industry classification.
判斷一家公司的淨資產收益率是否良好的一種簡單方法是將其與行業平均水平進行比較。這種方法的限制在於，即使在同一行業分類中，一些公司也與其他公司相差很大。如果您查看下面的圖像，您會發現Entegris的ROE低於半導體行業分類的平均水平（15％）。
That certainly isn't ideal. However, a low ROE is not always bad. If the company's debt levels are moderate to low, then there's still a chance that returns can be improved via the use of financial leverage. When a company has low ROE but high debt levels, we would be cautious as the risk involved is too high. Our risks dashboard should have the 2 risks we have identified for Entegris.
這顯然不是理想的結果。但是，低ROE並不總是不好的。如果公司的債務水平適中到低，那麼仍有可能通過使用財務槓桿來改善回報率。當一家公司的ROE較低但債務水平較高時，我們應該謹慎，因爲涉及的風險過高。我們的風險儀表板將顯示我們爲Entegris確定的2個風險。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
Virtually all companies need money to invest in the business, to grow profits. That cash can come from issuing shares, retained earnings, or debt. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
幾乎所有公司都需要資金來投入業務以實現利潤增長。這些資金可以來自發行股票，保留收益或債務。在第一種和第二種情況下，ROE將反映用於投資業務的這筆資金。在後一種情況下，用於增長的債務將提高回報，但不會影響總股本淨值。通過這種方式，債務使用將提高ROE，即使業務的核心經濟學仍然保持不變。
Combining Entegris' Debt And Its 9.2% Return On Equity
Entegris的債務和9.2％的ROE相結合
Entegris clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.22. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
Entegris顯然使用大量債務提高回報率，因爲其負債權益比爲1.22。即使使用了大量債務，其ROE也相當低；在我們看來這不是一個好的結果。債務確實帶來額外的風險，因此只有在公司從中獲得合理回報時才真正值得。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
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. If two companies have the same ROE, then I would generally prefer the one with less debt.
股本回報率有助於比較不同企業的質量。能夠在不太多債務的情況下實現高roe的公司通常都是高質量的。如果兩家公司的roe相同，則我通常更喜歡那家負債較少的公司。
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.
但是ROE只是一個複雜問題中的一部分，因爲高質量的企業往往以高倍數的收益交易。相對於當前價格反映的利潤增長預期，利潤增長率的可能速度也必須考慮在內。因此，您可能需要查看這家公司預測的數據豐富的交互式圖表。
Of course Entegris may not be the best stock to buy. So you may wish to see this free collection of other companies that have high ROE and low debt.
當然，Entegris可能不是最好的股票可供購買。因此，您可能希望查看此免費收集的其他具有高ROE和低債務的公司。
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？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 (at) 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。