AMN Healthcare Services, Inc. (NYSE:AMN) Delivered A Better ROE Than Its Industry
AMN Healthcare Services, Inc. (NYSE:AMN) Delivered A Better ROE Than Its Industry
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 AMN Healthcare Services, Inc. (NYSE:AMN).
我們最好的投資之一是投資我們自己的知識和技能。考慮到這一點，本文將介紹如何使用淨資產收益率（ROE）更好地了解企業。通過實踐學習，我們將看看AMN Healthcare Services，Inc. (紐交所：amn醫療保健服務)的ROE，以更好地理解它。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
roe或權益回報率是評估公司有效利用股東投資產生回報效率的有用工具。簡而言之，roe顯示每個股東投資所產生的利潤。
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 AMN Healthcare Services is:
因此，基於上述公式，AMN Healthcare Services的ROE爲：
17% = US$144m ÷ US$854m (Based on the trailing twelve months to March 2024).
17% = 1.44億美元 ÷ 8.54億美元（基於最近12個月至2024年3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 $0.17 in profit.
‘回報’是公司在過去一年內獲得的收益。這意味着對於每1美元的股東權益，公司生成了0.17美元的利潤。
Does AMN Healthcare Services Have A Good ROE?
AMN Healthcare Services的ROE表現好嗎？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As is clear from the image below, AMN Healthcare Services has a better ROE than the average (11%) in the Healthcare industry.
判斷公司是否具有良好的淨資產收益率的一種簡單方法是與其所在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，有些公司也與其他公司有很大的不同。從下圖可以清楚地看到，AMN Healthcare Services的ROE優於衛生保健行業的平均水平（11%）。
That is a good sign. However, bear in mind that a high ROE doesn't necessarily indicate efficient profit generation. Aside from changes in net income, a high ROE can also be the outcome of high debt relative to equity, which indicates risk. To know the 2 risks we have identified for AMN Healthcare Services visit our risks dashboard for free.
這是一個好的跡象。然而，請記住，高ROE並不一定意味着高效的盈利。除了淨利潤的變化外，高ROE也可能是相對於股本的高債務的結果，這表明存在風險。了解我們爲AMN Healthcare Services識別的兩個風險，請免費訪問我們的風險儀表板。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
Companies usually need to invest money to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the use of debt will improve the returns, but will not change the equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
公司通常需要投資來增加其利潤。這些資金可以來自發行股票、保留收益或債務。在前兩種情況下，ROE將捕捉到這種資本使用以進行增長。在後一種情況下，債務的使用將提高回報，但不會改變股本。因此，借款的使用可以提高ROE，儘管在比喻意義上存在額外的風險。
AMN Healthcare Services' Debt And Its 17% ROE
AMN Healthcare Services的債務和其17%的ROE
It's worth noting the high use of debt by AMN Healthcare Services, leading to its debt to equity ratio of 1.49. 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.
值得注意的是，AMN Healthcare Services使用了大量的債務，導致其債務和股本比率爲1.49。雖然其ROE是可觀的，但值得記住的是，公司可以使用的債務通常有限制。債務確實帶來額外的風險，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。
Conclusion
結論
Return on equity is one way we can compare its business quality of different companies. A company that can achieve a high return on equity without debt could be considered a high quality business. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
ROE是我們可以比較不同公司業務質量的一種方式。沒有負債可以實現高ROE的公司可以被認爲是高質量的公司。如果兩家公司的負債與股本約同，並且一家公司的ROE更高，則我通常更喜歡ROE更高的公司。
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. 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.
儘管ROE是業務質量的一個有用指標，但您必須考慮各種因素才能確定購買股票的正確價格。考慮與股票價格反映的預期相比的盈利增長率特別重要。因此，我認爲值得查看有關該公司分析師預測的免費報告。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
當然，您也可能通過尋找其他地方來找到出色的投資。因此，不妨查看這個有趣公司的免費列表。
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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。