Did Oceaneering International, Inc. (NYSE:OII) Use Debt To Deliver Its ROE Of 13%?
Did Oceaneering International, Inc. (NYSE:OII) Use Debt To Deliver Its ROE Of 13%?
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 Oceaneering International, Inc. (NYSE:OII).
许多投资者仍在学习分析股票时可能有用的各种指标。本文适用于那些想了解股本回报率(ROE)的人。通过边干边学的方式,我们将研究投资回报率,以更好地了解海洋工程国际有限公司(纽约证券交易所代码:OII)。
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或股本回报率是评估公司如何有效地从股东那里获得的投资回报的有用工具。换句话说,它是一种盈利比率,用于衡量公司股东提供的资本的回报率。
See our latest analysis for Oceaneering International
查看我们对国际海洋工程的最新分析
How Is ROE Calculated?
投资回报率是如何计算的?
The formula for return on equity is:
股本回报率的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营)÷ 股东权益
So, based on the above formula, the ROE for Oceaneering International is:
因此,根据上述公式,国际海洋工程的投资回报率为:
13% = US$76m ÷ US$572m (Based on the trailing twelve months to September 2023).
13% = 7600万美元 ÷ 5.72亿美元(基于截至2023年9月的过去十二个月)。
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 $0.13 in profit.
“回报” 是指公司去年的收益。这意味着,每持有价值1美元的股东权益,公司就会产生0.13美元的利润。
Does Oceaneering International Have A Good Return On Equity?
Oceaneering International有良好的股本回报率吗?
By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. The image below shows that Oceaneering International has an ROE that is roughly in line with the Energy Services industry average (12%).
通过将公司的投资回报率与其行业平均水平进行比较,我们可以快速衡量其表现如何。这种方法的局限性在于,有些公司与其他公司有很大不同,即使在相同的行业分类中也是如此。下图显示,国际海洋工程的投资回报率与能源服务行业的平均水平(12%)大致持平。
![roe](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240111/0-eba64d4558b0977a987962fdb111afab-0-01c2449d374636c166c0fdeada802a3b.png/big)
That isn't amazing, but it is respectable. Even if the ROE is respectable when compared to the industry, its worth checking if the firm's ROE is being aided by high debt levels. If so, this increases its exposure to financial risk.
这并不奇怪,但值得尊敬。即使与行业相比,投资回报率可观,也值得检查一下公司的投资回报率是否受到高额债务水平的支撑。如果是这样,这会增加其金融风险敞口。
How Does Debt Impact Return On Equity?
债务如何影响股本回报率?
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 debt used for growth will improve returns, but won't affect the total equity. That will make the ROE look better than if no debt was used.
公司通常需要投资资金来增加利润。投资现金可以来自上一年的利润(留存收益)、发行新股或借款。对于第一和第二种选择,投资回报率将反映现金用于增长的这种用途。在后一种情况下,用于增长的债务将提高回报,但不会影响总资产。这将使投资回报率看起来比不使用债务时更好。
Oceaneering International's Debt And Its 13% ROE
Oceaneering International的债务及其13%的投资回报率
It's worth noting the high use of debt by Oceaneering International, leading to its 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. 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,Oceaneering International大量使用债务,导致其债务权益比率为1.22。尽管其投资回报率相当可观,但该公司目前的债务额并不理想。投资者应该仔细考虑如果一家公司无法如此轻易地借款,其表现会如何,因为信贷市场确实会随着时间的推移而发生变化。
Summary
摘要
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. A company that can achieve a high return on equity without debt could be considered a high quality business. All else being equal, a higher ROE is better.
股本回报率是衡量企业创造利润并将其返还给股东的能力的有用指标。一家能够在没有债务的情况下实现高股本回报率的公司可以被视为高质量的企业。在其他条件相同的情况下,投资回报率越高越好。
But when a business is high quality, the market often bids it up to a price that reflects this. 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.
但是,当企业质量很高时,市场通常会以反映这一点的价格出价。重要的是要考虑其他因素,例如未来的利润增长以及未来需要多少投资。因此,你可能想看看这张数据丰富的交互式公司预测图。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
当然,通过寻找其他地方,你可能会找到一笔不错的投资。因此,来看看这份有趣的公司的免费清单吧。
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