Is Sealed Air Corporation (NYSE:SEE) A High Quality Stock To Own?
Is Sealed Air Corporation (NYSE:SEE) A High Quality Stock To Own?
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 Sealed Air Corporation (NYSE:SEE), by way of a worked example.
我们可以通过投资自身知识和技能来获得最佳回报。有了这个想法，本文将介绍如何使用ROE（净资产收益率）以更好地了解企业。我们将以Sealed Air Corporation（NYSE：SEE）为例，解析ROE。
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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
对于股东来说，股东回报率（ROE）是一个重要的考虑因素，因为它告诉股东他们的资本被有效地再投资了多少。换句话说，它是一个衡量公司股东提供的资本回报率的盈利能力比率。
How Do You Calculate Return On Equity?
怎样计算ROE?
The formula for return on equity is:
权益回报率的计算公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for Sealed Air is:
因此，根据上述公式，Sealed Air的ROE为：
60% = US$360m ÷ US$598m (Based on the trailing twelve months to March 2024).
60％ = 3.6亿美元 ÷ 5.98亿美元（截至2024年3月的过去12个月时间段）。
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 $0.60 in profit.
“回报”是指公司过去一年的收益。这意味着，对于每1美元的股东权益，公司创造了0.60美元的利润。
Does Sealed Air Have A Good Return On Equity?
Sealed Air的净资产收益率好吗？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As is clear from the image below, Sealed Air has a better ROE than the average (16%) in the Packaging industry.
确定公司是否有良好的净资产收益率的一个简单方法是将其与所在行业的平均水平进行比较。但需要注意的是，随着同一行业分类中公司差异的显著存在，这种方法并不完美。正如以下图像所示，Sealed Air在包装行业的ROE高于平均水平（16％）。
That's what we like to see. With that said, a high ROE doesn't always indicate high profitability. Especially when a firm uses high levels of debt to finance its debt which may boost its ROE but the high leverage puts the company at risk. Our risks dashboardshould have the 2 risks we have identified for Sealed Air.
我们喜欢看到这种情况。但需要指出的是，高净资产收益率并不总是意味着高盈利能力。特别是当公司使用大量债务来融资，这可能会提高其净资产收益率，但高杠杆也会使公司面临风险。我们的风险面板应该显示了我们已为Sealed Air确定的两个风险。
How Does Debt Impact Return On Equity?
债务如何影响股东回报率？
Virtually all companies need money to invest in the business, to grow 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 debt used for growth will improve returns, but won't affect the total equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
几乎所有公司都需要资金来投资业务，实现利润增长。这些资金可以来自留存收益、发行新股（股权）或债务。对于前两种情况，ROE将反映这种用于增长的资金使用情况。在后一种情况下，用于增长的债务将提高回报率，但不会影响总资产净值。通过这种方式，债务利用将提高ROE，即使业务的核心经济表现保持不变也是如此。
Sealed Air's Debt And Its 60% ROE
Sealed Air的债务和60％的ROE
We think Sealed Air uses a significant amount of debt to maximize its returns, as it has a significantly higher debt to equity ratio of 7.76. Its ROE is clearly quite good, but it seems to be boosted by the significant use of debt by the company.
我们认为Sealed Air使用了大量的债务来最大程度地提高其回报率，因为其债股比高达7.76。其ROE显然相当不错，但似乎受到公司大量使用债务的影响。
Conclusion
结论
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.
ROE是评估企业创造利润并将其归还给股东的能力的有用指标。如果一家公司没有负债就能实现高ROE，那么可以认为它是一家高质量的公司。其他条件相同，较高的ROE更好。
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，当企业具有高质量时，市场通常会将其竞价提高到反映这一点的价格。重要的是考虑其他因素，例如未来的利润增长 – 以及未来需要多少投资。因此，您可能需要看一下该公司预测数据丰富，交互式图形。
But note: Sealed Air 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.
但请注意：Sealed Air可能不是最好的股票购买选择。因此，可以查看这个免费的有高ROE和低债务的有趣公司列表。
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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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