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Is Newmark Group, Inc.'s (NASDAQ:NMRK) 4.2% ROE Worse Than Average?

Is Newmark Group, Inc.'s (NASDAQ:NMRK) 4.2% ROE Worse Than Average?

newmark group 公司(納斯達克:NMRK)的4.2% roe 是否低於平均水平?
Simply Wall St ·  10/03 09:01

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 Newmark Group, Inc. (NASDAQ:NMRK), by way of a worked example.

我們可以做出的最好投資之一是投資於自己的知識和技能。考慮到這一點,本文將介紹如何利用淨資產收益率(roe)來更好地理解一家企業。我們將使用roe來審查newmark group, inc.(納斯達克:nmrk)作爲一個示例。

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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

roe,即淨資產收益率,是一種評估公司如何有效地從股東手中獲取投資回報的有用工具。換句話說,它是一種盈利能力比率,衡量公司股東提供的資本的回報率。

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 Newmark Group is:

因此,根據上述公式,newmark group的roe爲:

4.2% = US$65m ÷ US$1.5b (Based on the trailing twelve months to June 2024).

4.2% = 6500萬美元 ÷ 150億美元(截至2024年6月的過去十二個月)。

The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.04 in profit.

「回報」是公司在過去十二個月稅後賺取的金額。概念化的一種方式是,對於每1美元的股東資本,公司賺取了0.04美元的利潤。

Does Newmark Group Have A Good Return On Equity?

newmark group的股票是否有良好的股東權益回報率?

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 is clear from the image below, Newmark Group has a lower ROE than the average (5.9%) in the Real Estate industry.

確定公司的股東權益回報率是否良好的一種簡單方法是將其與所在行業的平均水平進行比較。然而,由於同一行業中公司之間存在相當大的差異,這種方法僅用作初步檢查。從下面的圖片中可以明顯看出,newmark group在房地產業中的ROE低於平均水平(5.9%)。

big
NasdaqGS:NMRK Return on Equity October 3rd 2024
納斯達克市場:NMRk 2024年10月3日的股東權益回報率

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 high debt company having a low ROE is a different story altogether and a risky investment in our books.

那確實不理想。話雖如此,低ROE並不總是壞事,特別是如果公司負債率低,這仍然爲公司提供了改進的空間,如果公司願意承擔更多債務。高負債率的公司ROE低完全是另一回事,並且在我們的投資書中是一項風險投資。

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. 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. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.

大多數公司需要資金-來自某個地方-以增加利潤。投資的資金可以來自前一年的利潤(留存收益)、發行新股或借款。在第一和第二選擇的情況下,ROE將反映這種用於增長的資金使用。在後一種情況下,債務的使用將提高回報率,但不會改變股東權益。因此,債務的使用能夠提高ROE,儘管在暴風雨的情形下也伴隨着額外的風險,比喻性地說。

Newmark Group's Debt And Its 4.2% ROE

newmark group的債務及其4.2%的roe

It's worth noting the high use of debt by Newmark Group, leading to its debt to equity ratio of 1.00. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. 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newmark group對債務的高度利用,導致其債務資本比率爲1.00。其roe相當低,即使使用了大量債務也是如此;在我們看來,這並不是一個良好的結果。投資者應該仔細考慮一家公司如果不能輕鬆借款可能會表現如何,因爲信貸市場隨時間會發生變化。

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. 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ROE只是更大圖景中的一部分,因爲高質量企業常常以高倍數的市盈率交易。相對於當前價格所反映的盈利增長預期,盈利增長速度必須被考慮在內。所以你可能想看看這個數據豐富的互動圖表,了解該公司的預測情況。

If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

如果您想查看另一家可能具有更好財務狀況的公司 - 具有高股本回報率和低債務的公司,那麼請不要錯過這份有趣公司列表,該列表免費提供。

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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.

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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。

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