Is The Greenbrier Companies, Inc.'s (NYSE:GBX) 8.9% ROE Worse Than Average?
Is The Greenbrier Companies, Inc.'s (NYSE:GBX) 8.9% ROE Worse Than Average?
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. To keep the lesson grounded in practicality, we'll use ROE to better understand The Greenbrier Companies, Inc. (NYSE:GBX).
我們可以從投資於自身的知識和技能中獲得最佳的回報。有了這樣的想法,本文將通過使用股本回報率(ROE)來更好地理解業務。爲了使本課程更加實用,我們將使用ROE來更好地理解格林布賴爾公司(紐交所:GBX)。
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE(淨資產收益率)是股東需考慮的一個重要因素,因爲它告訴他們資本被有效地再投資的效果如何。換句話說,它揭示了公司將股東的投資轉化爲利潤的成功程度。
How To Calculate Return On Equity?
如何計算股東權益報酬率?
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算:
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 Greenbrier Companies is:
因此,基於上述公式,格林布賴爾公司的ROE爲:
8.9% = US$137m ÷ US$1.5b (Based on the trailing twelve months to May 2024).
8.9%= 1.37億美元÷ 15億美元(基於2024年5月的過去12個月)。
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.09 in profit.
'收益'是過去12個月稅後賺取的金額。換句話說,對於每1美元的股權,公司能夠賺取0.09美元的利潤。
Does Greenbrier Companies Have A Good Return On Equity?
格林布賴爾公司股本回報率如何?
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 Greenbrier Companies has a lower ROE than the average (14%) in the Machinery industry classification.
通過將公司的ROE與行業平均水平進行比較,我們可以快速衡量其好壞。但是,這種方法只適用於粗略檢查,因爲同一行業分類中的公司差異很大。如果您查看以下圖像,您會發現格林布賴爾公司的ROE低於機械行業分類的平均水平(14%)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240727/0-4cec4037f4604eec74f838da1d974ced-0-1ae527b0a349eac006a43add832a7f3a.png/big)
That's not what we like to see. However, a low ROE is not always bad. If the company's debt levels are moderate to low, then there's still a chance that returns can be improved via the use of financial leverage. A company with high debt levels and low ROE is a combination we like to avoid given the risk involved. To know the 2 risks we have identified for Greenbrier Companies visit our risks dashboard for free.
這不是我們想看到的。但是,低ROE並不總是不好的。如果公司的債務水平適中或較低,則仍然有通過使用財務槓桿來改善回報的機會。高債務水平和低ROE的公司組合是我們希望避免的,因爲涉及風險。有關我們已確定的格林布賴爾公司的兩個風險,請免費訪問我們的風險儀表板。
How Does Debt Impact Return On Equity?
債務如何影響股東回報率?
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 first and second cases, the ROE will reflect this use of cash for investment in the business. 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.
公司通常需要投資來增加其利潤。投資所需的現金可以來自前年收益(留存收益),發行新股或借款。在前兩種情況下,ROE將反映這種用於業務投資的現金使用。在後一種情況下,用於增長的債務將提高回報,但不會影響總權益。這將使ROE看起來比未使用債務時更好。
Combining Greenbrier Companies' Debt And Its 8.9% Return On Equity
結合格林布賴爾公司的債務和其8.9%的股本回報率
Greenbrier Companies does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.14. The combination of a rather low ROE and significant use of debt is not particularly appealing. 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.
格林布賴爾公司使用大量債務以提高回報。它的債務與淨值比率爲1.14。相對較低的ROE和大量使用債務的組合不是特別令人滿意的。投資者應認真思考,如果公司無法輕鬆借貸,它將如何表現,因爲信貸市場隨着時間的推移而變化。
Summary
總的來說,我們對偉明環保的表現非常滿意。具體而言,我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然,這導致公司的收益大幅增長。但是,最新的行業分析師預測表明,該公司的收益預計將加速增長。
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.
股本回報率是評估企業生成利潤並將其返還給股東能力的有用指標。能夠在不使用過多債務的情況下實現高回報率的公司通常是高質量的公司。如果兩家公司具有相同的ROE,那麼我通常會更喜歡負債較少的公司。
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. 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 check this FREE visualization of analyst forecasts for the company.
但ROE只是一個更大的難題中的一部分,因爲高質量的企業往往以高倍數的收益交易。因此,重要的是要考慮其他因素,例如未來的利潤增長以及未來的投資需求。因此,您可能需要查看分析師對該公司的預測的免費可視化。
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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。
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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。