Can Belden Inc.'s (NYSE:BDC) ROE Continue To Surpass The Industry Average?
Can Belden Inc.'s (NYSE:BDC) ROE Continue To Surpass The Industry Average?
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 Belden Inc. (NYSE:BDC).
許多投資者正在學習關於股票分析時有用的各種指標，本篇文章是爲那些想要學習股本回報率（roe）的投資者編寫的。通過實際操作學習，我們將看看roe，以更好地了解百通公司（nyse:bdc）。
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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股東應考慮的重要因素是淨資產收益率或roe，因爲它告訴他們投資的資本如何被有效地再投資。簡單來說，它用於評估公司與其股權資本相關的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算？
The formula for return on equity is:
權益回報率的計算公式是：
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 Belden is:
因此，基於上述公式，百通公司的roe爲：
19% = US$217m ÷ US$1.2b (Based on the trailing twelve months to March 2024).
19％=217百萬美元÷12億美元（基於截至2024年3月的過去十二個月）。
The 'return' is the income the business earned over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.19 in profit.
‘回報’是企業在過去一年內賺取的收入。這意味着對於每1美元的股東權益，公司創造了0.19美元的利潤。
Does Belden Have A Good ROE?
百通公司的roe表現如何？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. Pleasingly, Belden has a superior ROE than the average (9.6%) in the Electronic industry.
確定公司是否有良好的股本回報率的一種簡單方法是將其與同一行業的平均水平進行比較。這種方法的侷限性在於，即使在同一行業分類中，一些公司也與其他公司非常不同。令人高興的是，百通公司的roe優於電子行業的平均水平（9.6%）。
That's what we like to see. However, bear in mind that a high ROE doesn't necessarily indicate efficient profit generation. A higher proportion of debt in a company's capital structure may also result in a high ROE, where the high debt levels could be a huge risk . Our risks dashboardshould have the 2 risks we have identified for Belden.
這就是我們喜歡看到的。但是，請記住，高roe並不一定意味着高效的利潤生成。公司的資本結構中更高的債務比例也可能導致較高的roe，高債務水平可能帶來巨大的風險。我們的風險管理儀表板應標識我們爲百通公司確定的2個風險。
Why You Should Consider Debt When Looking At ROE
爲什麼在觀察ROE時你應該考慮債務問題？
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 required for growth will boost returns, but will not impact the shareholders' equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
通常，公司需要投資才能增加利潤。投資資金可以來自前年的利潤（留存收益）、發行新股或借款。在前兩種情況下，ROE將反映出這些用於業務投資的現金使用情況。在後一種情況下，用於增長的債務將提高回報，但不會影響股東權益。因此，使用債務可以提高ROE，但使用債務也會帶來額外的風險，就像比喻性地說的暴風雨天氣一樣。
Belden's Debt And Its 19% ROE
百通公司的債務和19%的roe
Belden does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.02. 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 does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
百通公司確實使用大量的債務來提高回報。其資產負債比率爲1.02。雖然其roe是可敬的，但值得記住的是，公司可以使用的債務量通常是有限的。負債確實會帶來額外的風險，因此只有當公司從中獲得一些不錯的回報時才真正有價值。
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. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So you might want to check this FREE visualization of analyst forecasts for the company.
但是roe只是更大難題中的一部分，因爲高質量的企業通常以高市盈率交易。考慮到股票價格所反映的預期，利潤增長率尤爲重要。因此，您可能需要查看該公司分析師預測的免費可視化工具。
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.
如果您想查看另一傢俱有潛在優越財務狀況的公司，則不要錯過此具有高ROE和低債務的有趣公司的免費列表。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) 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
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。