Should You Be Impressed By GE HealthCare Technologies Inc.'s (NASDAQ:GEHC) ROE?
Should You Be Impressed By GE HealthCare Technologies Inc.'s (NASDAQ:GEHC) ROE?
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 GE HealthCare Technologies Inc. (NASDAQ:GEHC).
我們可以從自己的知識和技能方面進行最佳的投入之一。考慮到這一點,本文將通過ROE更好地理解業務。通過實踐學習,我們將看看ROE以更好地了解GE醫療技術公司(納斯達克:GEHC)。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
淨資產收益率(ROE)是衡量公司增值和管理投資者資金有效性的測試。換句話說,它是一種盈利能力比率,用於衡量公司股東提供的資金回報率。
How To Calculate Return On Equity?
如何計算股東權益報酬率?
The formula for ROE is:
roe的公式是:
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 GE HealthCare Technologies is:
因此,基於上述公式,GE HealthCare Technologies的ROE爲:
21% = US$1.6b ÷ US$7.6b (Based on the trailing twelve months to March 2024).
21% = 16億美元 ÷ 76億美元(截至2024年3月)。
The 'return' is the yearly profit. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.21 in profit.
回報是每年的利潤。另一種思考方式是,對於每1美元的淨資產,該公司能夠賺取0.21美元的利潤。
Does GE HealthCare Technologies Have A Good Return On Equity?
GE醫療技術有良好的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. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As you can see in the graphic below, GE HealthCare Technologies has a higher ROE than the average (11%) in the Medical Equipment industry.
確定公司是否具有良好的股東權益回報的一個簡單方法是將其與行業平均水平進行比較。但是,此方法只用作大致檢查,因爲公司在同一行業分類中確實存在相當大的差異。從下面的圖表中可以看出,GE醫療技術在醫療設備行業的ROE高於平均水平(11%)
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240723/0-c28f819cfdcfefbcba7fd9e1a4161921-0-3c52dfed54ad7aa26dfff9ef02ba8e1e.png/big)
That's clearly a positive. Bear in mind, a high ROE doesn't always mean superior financial performance. Aside from changes in net income, a high ROE can also be the outcome of high debt relative to equity, which indicates risk.
這顯然是一個積極的變化。請記住,高ROE並不總是意味着優異的財務業績。除了淨利潤的變化之外,高ROE還可能是相對於股本的高債務的結果,這表明存在風險。
How Does Debt Impact Return On Equity?
債務如何影響股東回報率?
Companies usually need to invest money to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the use of debt will improve the returns, but will not change the equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
通常,公司需要投資資金來增加利潤。投資資金可以來自前年的利潤(保留收益),發行新股或借款。在前兩種情況下,ROE將反映這種用於增長的現金使用。在後一種情況下,債務的使用將提高回報,但不會改變股本。以這種方式使用債務將提高ROE,即使業務的基本經濟學仍然相同。
GE HealthCare Technologies' Debt And Its 21% ROE
GE醫療技術的債務和其21%的ROE
GE HealthCare Technologies does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.22. While its ROE is pretty respectable, the amount of debt the company is carrying currently is not ideal. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
GE醫療技術確實使用了大量的債務來提高回報。其債務與股本比率爲1.22。雖然其ROE相當可觀,但公司目前承擔的債務量並不理想。債務會增加風險並減少公司在未來的選擇,因此您通常希望看到一些良好的回報。
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 one way we can compare its business quality of different companies. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
股本收益率是我們可以比較不同公司業務質量的一種方式。在我們書中,具有高股本收益率的最高質量公司,儘管負債率低。如果兩家公司的負債與股權水平大致相同,並且其中一家公司的ROE更高,我通常會更喜歡ROE更高的公司。
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 I think it may be worth checking this free report on analyst forecasts for the company.
但是,ROE只是更大難題的一部分,因爲高質量的企業通常以高倍數的收益進行交易。因此,重要的是要考慮其他因素,例如未來的利潤增長以及未來需要多少投資。因此,我認爲值得檢查有關該公司分析師預測的免費報告。
Of course GE HealthCare Technologies 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,GE醫療技術可能不是最好的股票購買選擇。因此,您可能希望查看此免費收集的其他ROE高而債務低的公司。
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.
對本文有任何反饋?對內容有任何疑慮?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。