Myers Industries, Inc. (NYSE:MYE) Has A ROE Of 14%
Myers Industries, Inc. (NYSE:MYE) Has A ROE Of 14%
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 Myers Industries, Inc. (NYSE:MYE), by way of a worked example.
許多投資者仍在學習分析股票時可能有用的各種指標。本文適用於那些想了解股本回報率（ROE）的人。我們將使用投資回報率來考察邁爾斯工業公司（紐約證券交易所代碼：MYE），舉一個有效的例子。
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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回報率或投資回報率是股東需要考慮的重要因素，因爲它可以告訴他們資本再投資的有效性。簡而言之，投資回報率顯示了每美元從其股東投資中產生的利潤。
How Is ROE Calculated?
ROE 是如何計算的？
Return on equity can be calculated by using the formula:
股本回報率可以使用以下公式計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤（來自持續經營業務）÷ 股東權益
So, based on the above formula, the ROE for Myers Industries is:
因此，根據上述公式，邁爾斯工業的投資回報率爲：
14% = US$39m ÷ US$292m (Based on the trailing twelve months to March 2024).
14% = 3,900萬美元 ÷ 2.92億美元（基於截至2024年3月的過去十二個月）。
The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.14 in profit.
“申報表” 是過去十二個月的稅後收入金額。將其概念化的一種方法是，公司每擁有1美元的股東資本，就能獲得0.14美元的利潤。
Does Myers Industries Have A Good Return On Equity?
邁爾斯工業有良好的股本回報率嗎？
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. If you look at the image below, you can see Myers Industries has a similar ROE to the average in the Packaging industry classification (16%).
確定公司股本回報率是否不錯的一種簡單方法是將其與該行業的平均水平進行比較。重要的是，這遠非一個完美的衡量標準，因爲各公司在相同的行業分類中差異很大。如果你看下圖，你會發現邁爾斯工業的投資回報率與包裝行業分類中的平均水平（16％）相似。
That's neither particularly good, nor bad. While at least the ROE is not lower than the industry, its still worth checking what role the company's debt plays as high debt levels relative to equity may also make the ROE appear high. If true, then it is more an indication of risk than the potential. You can see the 2 risks we have identified for Myers Industries by visiting our risks dashboard for free on our platform here.
這既不是特別好，也不是特別糟糕。儘管至少投資回報率不低於該行業，但仍值得檢查該公司的債務起了什麼作用，因爲相對於股權的高債務水平也可能使投資回報率顯得很高。如果屬實，則與其說是潛在風險，不如說是風險。您可以訪問我們的 2 種風險來查看我們爲邁爾斯工業確定的 2 種風險 風險儀表板 在我們的平台上免費使用。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
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 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. That will make the ROE look better than if no debt was used.
大多數公司需要來自某個地方的資金來增加利潤。投資現金可以來自上一年的利潤（留存收益）、發行新股或借款。對於第一和第二種選擇，投資回報率將反映現金用於增長的這種用途。在後一種情況下，債務的使用將提高回報，但不會改變股權。這將使投資回報率看起來比不使用債務時更好。
Combining Myers Industries' Debt And Its 14% Return On Equity
合併邁爾斯工業的債務及其14％的股本回報率
It's worth noting the high use of debt by Myers Industries, leading to its debt to equity ratio of 1.37. While its ROE is respectable, it is worth keeping in mind that there is usually a limit as to how much debt a company can use. 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，邁爾斯工業公司大量使用債務，導致其負債權益比率爲1.37。儘管其投資回報率可觀，但值得記住的是，公司可以使用多少債務通常是有限制的。債務會增加風險，減少公司未來的選擇，因此您通常希望從使用債務中獲得豐厚的回報。
Conclusion
結論
Return on equity is useful for comparing the quality of different businesses. In our books, the highest quality companies have high return on equity, despite low debt. All else being equal, a higher ROE is better.
股本回報率對於比較不同業務的質量很有用。在我們的賬簿中，儘管債務很低，但質量最高的公司的股本回報率卻很高。在其他條件相同的情況下，更高的投資回報率更好。
Having said that, while ROE is a useful indicator of business quality, you'll have to look at a whole range of factors to determine the right price to buy a stock. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So I think it may be worth checking this free report on analyst forecasts for the company.
話雖如此，儘管投資回報率是衡量業務質量的有用指標，但您必須考慮一系列因素才能確定購買股票的正確價格。相對於當前價格所反映的利潤增長預期，還必須考慮利潤可能的增長速度。因此，我認爲可能值得查看這份關於分析師對公司的預測的免費報告。
But note: Myers Industries 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.
但請注意：邁爾斯工業可能不是最值得購買的股票。因此，來看看這份投資回報率高、債務低的有趣公司的免費清單。
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