Based On Its ROE, Is Kodiak Gas Services, Inc. (NYSE:KGS) A High Quality Stock?
Based On Its ROE, Is Kodiak Gas Services, Inc. (NYSE:KGS) A High Quality Stock?
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 Kodiak Gas Services, Inc. (NYSE:KGS).
我們能做的最好的投資之一是我們自己的知識和技能。考慮到這一點，本文將探討如何使用股本回報率（ROE）來更好地了解業務。通過邊幹邊學的方式，我們將研究投資回報率，以更好地了解科迪亞克天然氣服務公司（紐約證券交易所代碼：KGS）。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回報率或投資回報率是股東需要考慮的重要因素，因爲它可以告訴他們資本再投資的有效性。換句話說，它揭示了公司成功地將股東投資轉化爲利潤。
How Do You Calculate Return On Equity?
你如何計算股本回報率？
The formula for ROE is:
ROE 的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤（來自持續經營業務）÷ 股東權益
So, based on the above formula, the ROE for Kodiak Gas Services is:
因此，根據上述公式，科迪亞克天然氣服務的投資回報率爲：
5.5% = US$63m ÷ US$1.1b (Based on the trailing twelve months to March 2024).
5.5% = 6,300萬美元 ÷ 11億美元（基於截至2024年3月的過去十二個月）。
The 'return' refers to a company's earnings over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.05 in profit.
“回報” 是指公司去年的收益。這意味着，每獲得價值1美元的股東權益，該公司就會產生0.05美元的利潤。
Does Kodiak Gas Services Have A Good ROE?
科迪亞克天然氣服務有良好的投資回報率嗎？
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. If you look at the image below, you can see Kodiak Gas Services has a lower ROE than the average (13%) in the Energy Services industry classification.
確定公司股本回報率是否不錯的一種簡單方法是將其與該行業的平均水平進行比較。但是，這種方法僅在粗略檢查時有用，因爲各公司在相同的行業分類中確實存在很大差異。如果你看下圖，你會發現科迪亞克天然氣服務的投資回報率低於能源服務行業分類中的平均水平（13％）。
That certainly isn't ideal. 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 company with high debt levels and low ROE is a combination we like to avoid given the risk involved. Our risks dashboard should have the 3 risks we have identified for Kodiak Gas Services.
這當然不理想。話雖如此，低投資回報率並不總是一件壞事，尤其是在公司的槓桿率低的情況下，因爲如果公司承擔更多債務，這仍有改進的餘地。鑑於所涉及的風險，高債務水平和低投資回報率的公司是我們希望避免的組合。我們的風險儀表板應包含我們爲科迪亞克天然氣服務確定的三種風險。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
Most companies need money -- from somewhere -- to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the debt required for growth will boost returns, but will not impact the shareholders' equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
大多數公司需要來自某個地方的資金來增加利潤。這些現金可以來自發行股票、留存收益或債務。在前兩種情況下，投資回報率將捕捉到資本的這種增長用途。在後一種情況下，增長所需的債務將提高回報，但不會影響股東的權益。通過這種方式，債務的使用將提高投資回報率，儘管業務的核心經濟保持不變。
Kodiak Gas Services' Debt And Its 5.5% ROE
科迪亞克天然氣服務的債務及其5.5％的投資回報率
Kodiak Gas Services does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.60. The combination of a rather low ROE and significant use of debt is not particularly appealing. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
科迪亞克天然氣服務確實使用大量債務來增加回報。它的負債權益比率爲1.60。相當低的投資回報率和大量使用債務相結合並不是特別有吸引力。債務會增加風險，減少公司未來的選擇，因此您通常希望從使用債務中獲得豐厚的回報。
Summary
摘要
Return on equity is one way we can compare its business quality of different companies. A company that can achieve a high return on equity without debt could be considered a high quality business. If two companies have the same ROE, then I would generally prefer the one with less debt.
股本回報率是我們可以比較不同公司的業務質量的一種方式。能夠在沒有債務的情況下實現高股本回報率的公司可以被視爲高質量的企業。如果兩家公司的投資回報率相同，那麼我通常更喜歡負債較少的公司。
Having said that, while ROE is a useful indicator of business quality, you'll have to look at a whole range of factors to determine the right price to buy a stock. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.
話雖如此，儘管投資回報率是衡量業務質量的有用指標，但你必須考慮一系列因素才能確定購買股票的正確價格。與股票價格所反映的預期相比，利潤增長率尤其值得考慮。因此，你可能想看看這張數據豐富的公司預測交互式圖表。
But note: Kodiak Gas Services 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.
但請注意：科迪亞克天然氣服務可能不是最值得購買的股票。因此，來看看這份投資回報率高、負債率低的有趣公司的免費清單。
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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.
對這篇文章有反饋嗎？對內容感到擔憂嗎？請直接聯繫我們。或者，也可以發送電子郵件至編輯團隊 (at) simplywallst.com。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對這篇文章有反饋嗎？擔心內容嗎？直接聯繫我們。或者，發送電子郵件至 editorial-team@simplywallst.com