Is New Fortress Energy Inc.'s (NASDAQ:NFE) ROE Of 14% Impressive?
Is New Fortress Energy Inc.'s (NASDAQ:NFE) ROE Of 14% Impressive?
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity 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. We'll use ROE to examine New Fortress Energy Inc. (NASDAQ:NFE), by way of a worked example.
儘管一些投資者已經精通財務指標（帽子提示），但本文適用於那些想了解股本回報率（ROE）及其重要性的人。我們將使用投資回報率來研究新堡壘能源公司（納斯達克股票代碼：NFE），舉一個行之有效的例子。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回報率或投資回報率是用於評估公司管理層利用公司資本效率的關鍵指標。換句話說，它揭示了公司成功地將股東投資轉化爲利潤。
How Do You Calculate Return On Equity?
你如何計算股本回報率？
ROE can be calculated by using the formula:
ROE 可以通過以下公式計算：
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 New Fortress Energy is:
因此，根據上述公式，新堡壘能源的投資回報率爲：
14% = US$247m ÷ US$1.8b (Based on the trailing twelve months to June 2024).
14% = 2.47億美元 ÷ 18億美元（基於截至2024年6月的過去十二個月）。
The 'return' is the profit over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.14 in profit.
「回報」 是過去十二個月的利潤。這意味着，每獲得價值1美元的股東權益，該公司就會產生0.14美元的利潤。
Does New Fortress Energy Have A Good ROE?
新堡壘能量有不錯的投資回報率嗎？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. The image below shows that New Fortress Energy has an ROE that is roughly in line with the Oil and Gas industry average (16%).
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。但是，這種方法僅在粗略檢查時有用，因爲各公司在相同的行業分類中確實存在很大差異。下圖顯示，新堡壘能源的投資回報率與石油和天然氣行業的平均水平（16％）大致持平。
So while the ROE is not exceptional, at least its acceptable. Although the ROE is similar to the industry, we should still perform further checks to see if the company's ROE is being boosted by high debt levels. If true, then it is more an indication of risk than the potential. To know the 5 risks we have identified for New Fortress Energy visit our risks dashboard for free.
因此，儘管投資回報率並不例外，但至少是可以接受的。儘管投資回報率與行業相似，但我們仍應進行進一步檢查，看看高額債務水平是否提振了公司的投資回報率。如果屬實，則與其說是潛在風險，不如說是風險。要了解我們爲新堡壘能源確定的5種風險，請免費訪問我們的風險控制面板。
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 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 used for growth will improve returns, but won't affect the total equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
幾乎所有公司都需要資金來投資業務，增加利潤。這些現金可以來自發行股票、留存收益或債務。對於第一和第二種選擇，投資回報率將反映現金用於增長的這種用途。在後一種情況下，用於增長的債務將提高回報，但不會影響總資產。因此，使用債務可以提高投資回報率，儘管可以隱喻地說，暴風雨天氣會帶來額外的風險。
New Fortress Energy's Debt And Its 14% ROE
新堡壘能源的債務及其14％的投資回報率
It appears that New Fortress Energy makes extensive use of debt to improve its returns, because it has an alarmingly high debt to equity ratio of 4.27. Its ROE is respectable, but it's not so impressive once you consider all of the debt.
看來新堡壘能源廣泛使用債務來提高回報，因爲它的債務權益比率高得驚人，爲4.27。它的投資回報率相當可觀，但是一旦你考慮了所有的債務，它就不會那麼令人印象深刻。
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 around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
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。在我們的賬簿中，儘管負債較低，但質量最高的公司仍具有很高的股本回報率。如果兩家公司的債務與股權比率大致相同，而一家公司的投資回報率更高，我通常更喜歡投資回報率更高的公司。
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 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 New Fortress Energy may not be the best stock to buy. So you may wish to see this free collection of other companies that have high ROE and low debt.
當然，新堡壘能源可能不是最好的買入股票。因此，您不妨免費查看其他投資回報率高、負債率低的公司的名單。
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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。
譯文內容由第三人軟體翻譯。