Can Installed Building Products, Inc.'s (NYSE:IBP) ROE Continue To Surpass The Industry Average?
Can Installed Building Products, Inc.'s (NYSE:IBP) ROE Continue To Surpass The Industry 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. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Installed Building Products, Inc. (NYSE:IBP).
我們能做的最好的投資之一是我們自己的知識和技能。考慮到這一點，本文將探討如何使用股本回報率（ROE）來更好地了解業務。通過邊幹邊學的方式，我們將研究投資回報率，以更好地了解建築安裝產品有限公司（紐約證券交易所代碼：IBP）。
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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.
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，它衡量公司相對於股東權益的盈利能力。
How Do You Calculate Return On Equity?
你如何計算股本回報率？
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 Installed Building Products is:
因此，根據上述公式，已安裝建築產品的投資回報率爲：
36% = US$244m ÷ US$670m (Based on the trailing twelve months to December 2023).
36% = 2.44億美元 ÷ 6.7億美元（基於截至2023年12月的過去十二個月）。
The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.36.
“回報” 是每年的利潤。因此，這意味着其股東每投資1美元，公司就會產生0.36美元的利潤。
Does Installed Building Products Have A Good ROE?
已安裝的建築產品具有良好的投資回報率嗎？
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. As you can see in the graphic below, Installed Building Products has a higher ROE than the average (15%) in the Consumer Durables industry.
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。如下圖所示，已安裝建築產品的投資回報率高於耐用消費品行業的平均水平（15％）。
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 Installed Building Products.
這就是我們喜歡看到的。話雖如此，高投資回報率並不總是表示高盈利能力。尤其是當一家公司使用高額債務爲其債務融資時，這可能會提高其投資回報率，但高槓杆率會使公司面臨風險。我們的風險儀表板應包含我們爲已安裝建築產品確定的兩種風險。
How Does Debt Impact Return On Equity?
債務如何影響股本回報率？
Virtually all companies need money to invest in the business, to grow profits. That cash can come from issuing shares, retained earnings, 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 required for growth will boost returns, but will not impact the shareholders' equity. That will make the ROE look better than if no debt was used.
幾乎所有公司都需要資金來投資業務，以增加利潤。這筆現金可以來自發行股票、留存收益或債務。就第一和第二種選擇而言，投資回報率將反映現金的這種用途，以實現增長。在後一種情況下，增長所需的債務將提高回報，但不會影響股東權益。這將使投資回報率看起來比不使用債務時要好。
Combining Installed Building Products' Debt And Its 36% Return On Equity
合併已安裝建築產品的債務及其36％的股本回報率
It's worth noting the high use of debt by Installed Building Products, leading to its debt to equity ratio of 1.29. 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，已安裝建築產品大量使用債務，導致其負債權益比率爲1.29。儘管毫無疑問，其投資回報率令人印象深刻，但如果該公司以較低的債務實現這一目標，我們會給我們留下更深刻的印象。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 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. All else being equal, a higher ROE is better.
股本回報率是衡量企業創造利潤並將其返還給股東的能力的有用指標。能夠在不負債過多的情況下獲得高股本回報的公司通常質量很好。在其他條件相同的情況下，更高的投資回報率更好。
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So I think it may be worth checking this free report on analyst forecasts for the company.
但是，投資回報率只是更大難題中的一部分，因爲高質量的企業通常以較高的收益倍數進行交易。與股票價格所反映的預期相比，利潤增長率尤其需要考慮。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。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
當然，通過尋找其他地方，你可能會找到一筆不錯的投資。因此，來看看這份有趣的公司的免費清單吧。
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。
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