Should You Be Worried About Dominion Energy, Inc.'s (NYSE:D) 7.4% Return On Equity?
Should You Be Worried About Dominion Energy, Inc.'s (NYSE:D) 7.4% Return On Equity?
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 Dominion Energy, Inc. (NYSE:D).
許多投資者仍在學習分析股票時可用的各種指標。本文介紹了一些關於股息收益率（ROE）的知識。通過實際操作學習，我們將查看ROE以更好地了解Dominion Energy，Inc。（紐交所：D）
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.
對於股東來說，股東回報率（ROE）是一個重要的考慮因素，因爲它告訴股東他們的資本被有效地再投資了多少。換句話說，它是一個衡量公司股東提供的資本回報率的盈利能力比率。
How Is ROE Calculated?
淨資產收益率怎麼計算？
ROE can be calculated by using the formula:
淨資產收益率可以使用以下公式進行計算：
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 Dominion Energy is:
因此，根據上述公式，Dominion Energy的ROE爲：
7.4% = US$2.0b ÷ US$27b (Based on the trailing twelve months to March 2024).
7.4％=US $2.0b ÷ US $27b（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 $0.07 in profit.
“Return”是公司在過去12個月內稅後獲得的收益。概括來說，對於每1美元的股東資本，公司利潤爲0.07美元。
Does Dominion Energy Have A Good Return On Equity?
Dominion Energy的股息收益率表現如何？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As is clear from the image below, Dominion Energy has a lower ROE than the average (9.4%) in the Integrated Utilities industry.
確定公司是否具有良好的股息收益率的一種簡單方法是將其與同行業平均值進行比較。然而，此方法僅用作一個粗略的檢查，因爲同一行業分類中的公司確實有很大不同。從下圖可以看出，Dominion Energy的ROE低於綜合公用事業業內平均水平（9.4％）。
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. When a company has low ROE but high debt levels, we would be cautious as the risk involved is too high. You can see the 3 risks we have identified for Dominion Energy by visiting our risks dashboard for free on our platform here.
這不是我們想看到的。然而，低ROE並不總是不好的。如果公司的債務水平中等或較低，則仍有機會通過使用財務槓桿來改善回報。當公司的ROE低但債務水平高時，我們應謹慎，因爲涉及的風險過高。您可以訪問我們的 獲取有關Dominion Energy的3個風險的詳細信息風險儀表板在瀏覽完所有相關因素確定股票購買價格後，ROE是一個有用的公司質量指標。此外，還需要考慮其他因素，例如未來盈利增長以及未來需要投入多少投資。因此，我認爲值得查看這份免費的詳細收益、營收和現金流圖表。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
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 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. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
幾乎所有公司都需要資金來投資業務以增加利潤。這些資金可以來自留存收益、發行新股（權益）或負債。在前兩種情況下，ROE將反映出這些資金用於投資業務。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，債務的使用會提高ROE，即使業務的核心經濟狀況保持不變。
Combining Dominion Energy's Debt And Its 7.4% Return On Equity
綜合Dominion Energy的債務及其7.4％的股息收益率
Dominion Energy does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.53. With a fairly low ROE, and significant use of debt, it's hard to get excited about this business at the moment. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
Dominion Energy確實使用大量債務以增加回報。它的債務權益比爲1.53。由於ROE相當低且債務使用量很大，因此目前很難讓我們感到興奮。從債務方面存在額外風險，因此只有在公司從中獲得了一些不錯的回報時，才真正值得使用債務。
Conclusion
結論
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have the same ROE, then I would generally prefer the one with less debt.
ROE是評估企業能否創造利潤並將其返還給股東的有用指標。在我們的清單中，最高品質的公司具有高回報率，儘管負債較低。如果兩家公司的ROE相同，那麼我通常更喜歡負債較小的公司。
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. 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 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，因爲高質量的業務往往交易於高倍數的收益中。必須考慮盈利增長相對於反映在當前價格中的盈利增長預期的速度。因此，您可能需要查看此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。
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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.
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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。
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譯文內容由第三人軟體翻譯。