Should We Be Cautious About TTEC Holdings, Inc.'s (NASDAQ:TTEC) ROE Of 12%?
Should We Be Cautious About TTEC Holdings, Inc.'s (NASDAQ:TTEC) ROE Of 12%?
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). We'll use ROE to examine TTEC Holdings, Inc. (NASDAQ:TTEC), by way of a worked example.
許多投資者仍在學習在分析股票時可能有用的各種指標。這篇文章是為那些想了解股本回報率(ROE)的人準備的。我們將使用淨資產收益率來檢驗納斯達克控股公司(ROE：TTEC)，作為一個生動的例子。
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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回報率或淨資產收益率是股東要考慮的一個重要因素，因為它告訴他們他們的資本再投資的效率。簡而言之，它衡量的是一家公司相對於股東權益的盈利能力。
View our latest analysis for TTEC Holdings
查看我們對TTEC控股的最新分析
How Is ROE Calculated?
淨資產收益率是如何計算的？
The formula for ROE is:
這個淨資產收益率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率=(持續經營的)淨利潤？股東權益
So, based on the above formula, the ROE for TTEC Holdings is:
因此，根據上述公式，TTEC Holdings的ROE為：
12% = US$75m ÷ US$642m (Based on the trailing twelve months to June 2023).
12%=7500萬美元×6.42億美元(基於截至2023年6月的12個月)。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.12.
“報稅表”是過去12個月的稅後收入。因此，這意味著股東每投資1美元，公司就會產生0.12美元的利潤。
Does TTEC Holdings Have A Good ROE?
TTEC控股的淨資產收益率高嗎？
By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. 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 TTEC Holdings has a lower ROE than the average (15%) in the Professional Services industry classification.
通過將一家公司的淨資產收益率(ROE)與其行業平均水準進行比較，我們可以快速衡量它有多好。然而，這種方法只是作為一種粗略的檢查，因為在同一行業分類中，公司確實有很大的不同。如果你看下圖，你可以看到TTEC Holdings的淨資產收益率(ROE)低於專業服務行業分類的平均水準(15%)。
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. To know the 3 risks we have identified for TTEC Holdings visit our risks dashboard for free.
這當然不是理想的情況。話雖如此，低ROE並不總是一件壞事，特別是如果公司的槓桿率較低，因為如果公司承擔更多債務，這仍有改進的空間。考慮到涉及的風險，高債務水準和低ROE的公司是我們希望避免的組合。要了解我們為TTEC控股確定的3個風險，請免費訪問我們的風險儀錶板。
How Does Debt Impact ROE?
債務對淨資產收益率有何影響？
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 first two cases, the ROE will capture this use of capital to grow. 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.
大多數公司都需要資金--從某個地方--來增加利潤。投資的現金可以來自上一年的利潤(留存收益)、發行新股或借款。在前兩種情況下，淨資產收益率將抓住這種資本增長的用途。在後一種情況下，債務的使用將提高回報，但不會改變股權。因此，債務的使用可以提高淨資產收益率，儘管打個比方說，在暴風雨天氣的情況下會有額外的風險。
Combining TTEC Holdings' Debt And Its 12% Return On Equity
合併TTEC控股的債務和12%的股本回報率
TTEC Holdings clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.43. 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.
TTEC Holdings顯然使用了大量債務來提高回報，因為它的債務與股本比率為1.43。它的淨資產收益率相當低，即使使用了大量債務；在我們看來，這不是一個好結果。債務確實會帶來額外的風險，所以只有當一家公司從債務中獲得一些可觀的回報時，它才是真正值得的。
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 around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
股本回報率是我們比較不同公司業務質量的一種方式。一家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認為是一家高質量的企業。如果兩家公司的債務權益比大致相同，而其中一家公司的淨資產收益率更高，我通常會更喜歡淨資產收益率更高的那家公司。
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 you might want to take a peek at this data-rich interactive graph of forecasts for the company.
但淨資產收益率只是一個更大的謎題的一部分，因為高質量企業的本益比往往很高。重要的是要考慮其他因素，比如未來的利潤增長，以及未來需要多少投資。因此，你可能想看看這張數據豐富的公司預測互動圖表。
Of course TTEC Holdings 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.
當然了TTEC Holdings可能不是最值得購買的股票那就是。所以你可能想看看這個免費其他擁有高ROE和低債務的公司的集合。
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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.
對這篇文章有什麼反饋嗎？擔心內容嗎？ 保持聯繫直接與我們聯繫.或者，也可以給編輯組發電子郵件，地址是暗示Wallst.com。
本文由Simply Wall St.撰寫，具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.