Can Accel Entertainment, Inc.'s (NYSE:ACEL) ROE Continue To Surpass The Industry Average?
Can Accel Entertainment, Inc.'s (NYSE:ACEL) ROE Continue To Surpass The Industry Average?
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). By way of learning-by-doing, we'll look at ROE to gain a better understanding of Accel Entertainment, Inc. (NYSE:ACEL).
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。通過邊做邊學的方式,我們將關注淨資產收益率,以更好地瞭解Accel Entertainment,Inc.(紐約證券交易所代碼:ACEL)。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回報率(ROE)是對一家公司增值和管理投資者資金的效率的測試。簡而言之,它是用來評估一家公司相對於其權益資本的盈利能力。
See our latest analysis for Accel Entertainment
查看我們對Accel Entertainment的最新分析
How Is ROE Calculated?
淨資產收益率是如何計算的?
The formula for return on equity is:
這個股本回報率公式是:
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 Accel Entertainment is:
因此,根據上述公式,Accel Entertainment的ROE為:
29% = US$55m ÷ US$189m (Based on the trailing twelve months to June 2023).
29%=5500萬美元×1.89億美元(基於截至2023年6月的12個月)。
The 'return' is the income the business earned over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.29.
“回報”指的是企業在過去一年中獲得的收入。因此,這意味著股東每投資1美元,公司就會產生0.29美元的利潤。
Does Accel Entertainment Have A Good Return On Equity?
Accel Entertainment的股本回報率高嗎?
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As you can see in the graphic below, Accel Entertainment has a higher ROE than the average (17%) in the Hospitality industry.
可以說,評估公司淨資產收益率最簡單的方法是將其與所在行業的平均水準進行比較。這種方法的侷限性是,一些公司與其他公司有很大的不同,甚至在相同的行業分類中也是如此。如下圖所示,Accel Entertainment的淨資產收益率(ROE)高於酒店行業的平均水準(17%)。
![roe](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231014/0-9232f4b0b9019c645c50daf9e854d7de-0-c4d1f17f467ed109fd6a189fff0e9665.png/big)
That's clearly a positive. However, bear in mind that a high ROE doesn't necessarily indicate efficient profit generation. Aside from changes in net income, a high ROE can also be the outcome of high debt relative to equity, which indicates risk. To know the 2 risks we have identified for Accel Entertainment visit our risks dashboard for free.
這顯然是一個積極的因素。然而,請記住,高淨資產收益率並不一定意味著有效的利潤創造。除了淨利潤的變化外,高淨資產收益率也可能是高負債相對於股本的結果,這表明存在風險。要了解我們為Accel Entertainment確定的兩個風險,請免費訪問我們的風險儀錶板。
Why You Should Consider Debt When Looking At ROE
為什麼在考慮淨資產收益率時應該考慮債務
Companies usually need to invest money to grow their profits. That cash can come from retained earnings, issuing new shares (equity), or debt. 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.
公司通常需要投入資金來增加利潤。這些現金可以來自留存收益、發行新股(股權)或債務。在第一種和第二種選擇的情況下,淨資產收益率將反映現金用於增長的這種情況。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。
Accel Entertainment's Debt And Its 29% ROE
Accel Entertainment的債務及其29%的淨資產收益率
It's worth noting the high use of debt by Accel Entertainment, leading to its debt to equity ratio of 2.75. While no doubt that its ROE is impressive, we would have been even more impressed had the company achieved this with lower debt. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
值得注意的是,Accel Entertainment高度利用債務,導致其債務與股本比率達到2.75。雖然毫無疑問,它的淨資產收益率令人印象深刻,但如果該公司以較低的債務實現這一點,我們會更加印象深刻。債務增加了風險,減少了公司未來的選擇,所以你通常希望看到使用它的一些良好回報。
Conclusion
結論
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. 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.
股本回報率是衡量一家企業產生利潤並將其返還給股東的能力的有用指標。能夠在沒有太多債務的情況下實現高股本回報率的公司通常質量良好。如果兩家公司的淨資產收益率相同,那麼我通常會傾向於債務較少的那一家。
But when a business is high quality, the market often bids it up to a price that reflects this. 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.
但當一項業務是高質量的時,市場往往會將其抬高到反映這一點的價格。相對於股價反映的預期,利潤增長率是一個特別重要的考慮因素。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, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
當然了,如果你把目光投向別處,你可能會發現這是一筆很棒的投資。所以讓我們來看看這個免費有趣的公司名單。
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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.