How Did International Game Technology PLC's (NYSE:IGT) 16% ROE Fare Against The Industry?
How Did International Game Technology PLC's (NYSE:IGT) 16% ROE Fare Against The Industry?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. By way of learning-by-doing, we'll look at ROE to gain a better understanding of International Game Technology PLC (NYSE:IGT).
雖然一些投資者已經精通了金融指標(致謝),但本文是爲那些想學習回報率(ROE)及其重要性的人準備的。通過實踐學習,我們將研究ROE以更好地了解國際博彩科技股份有限公司(紐交所:IGT)。
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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.
roe指股東權益回報率,是一種有用的工具,用於評估公司如何有效地從股東獲得的投資中產生回報。簡單來說,這衡量了一家公司相對於股東權益的盈利能力。
How Do You Calculate Return On Equity?
怎樣計算ROE?
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算:
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 International Game Technology is:
因此,根據上述公式,國際博彩科技的ROE爲:
16% = US$304m ÷ US$1.9b (Based on the trailing twelve months to June 2024).
16%= US $ 30400萬 ÷ US $ 19億(基於截至2024年6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 $0.16.
「回報率」是年利潤。「每1美元的股東投資能帶來0.16美元的利潤」的意思是。
Does International Game Technology Have A Good ROE?
國際博彩科技ROE如何?
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. The image below shows that International Game Technology has an ROE that is roughly in line with the Hospitality industry average (17%).
論衡量公司ROE的最簡單方法是將其與同行業平均水平進行比較。 但是,值得注意的是,這遠非是一個完美的度量方式,因爲同一行業內的公司存在顯著差異。下圖顯示,國際博彩科技的ROE與酒店行業平均水平(17%)大致相同。
![big](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240819/0-0a13635f33218cbad1391dedd83c261b-0-baaf7741ee07c5c891dd825eafb10a55.png/big)
So while the ROE is not exceptional, at least its acceptable. Even if the ROE is respectable when compared to the industry, its worth checking if the firm's ROE is being aided by high debt levels. If so, this increases its exposure to financial risk. Our risks dashboardshould have the 2 risks we have identified for International Game Technology.
因此,雖然ROE並非十分優異,至少它是可接受的。即使與行業相比ROE值尚算可觀,但還是值得檢查公司的ROE是否受到高負債水平的幫助。如果是這樣,這將增加其面臨的財務風險。我們的風險控制看板應該包括了國際博彩科技已發現的兩種風險。
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. 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 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.
公司通常需要投入資金來增加利潤。這些資金可以來自發行股票、留存收益或債務。在前兩種選擇的情況下,ROE將反映這種用於增長的現金。在後一種情況下,使用債務將提高回報,但不會改變股權。這將使ROE看起來比不使用債務時更好。
International Game Technology's Debt And Its 16% ROE
國際博彩科技的債務及其16%的ROE
International Game Technology does use a high amount of debt to increase returns. It has a debt to equity ratio of 2.95. 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.
國際博彩科技確實使用了大量的債務來增加回報。其資產負債比爲2.95。雖然其ROE值尚算可觀,但值得記住的是,公司使用債務的規模通常是有限的。債務會增加風險並減少未來公司的選擇,因此您通常希望看到一些良好的回報率。
Conclusion
結論
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. 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.
淨資產收益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。如果一家公司能夠在沒有債務的情況下實現高回報股東的回報,那麼可以認爲這是一家高質量的公司。如果兩家公司的股權和債務水平大致相同,並且一家公司的ROE較高,那麼我通常會選擇那個ROE較高的公司。
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. 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.
話雖如此,雖然ROE是業務質量的一個有用指標,但你需要考慮很多因素才能確定購買股票的正確價格。還必須考慮盈利率預計與當前價格反映的盈利增長預期之間的關係。因此,您可能需要查看該公司的分析師預測的這個免費可視化工具。
But note: International Game Technology 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:國際博彩科技可能不是最佳的買入股票。因此,可以看一看這份免費的高ROE和低債務的有趣公司列表。
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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。
譯文內容由第三人軟體翻譯。