Is Sealed Air Corporation (NYSE:SEE) A High Quality Stock To Own?
Is Sealed Air Corporation (NYSE:SEE) A High Quality Stock To Own?
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. We'll use ROE to examine Sealed Air Corporation (NYSE:SEE), by way of a worked example.
我們可以通過投資自身知識和技能來獲得最佳回報。有了這個想法，本文將介紹如何使用ROE（淨資產收益率）以更好地了解企業。我們將以Sealed Air Corporation（NYSE：SEE）爲例，解析ROE。
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 Do You Calculate Return On Equity?
怎樣計算ROE?
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 Sealed Air is:
因此，根據上述公式，Sealed Air的ROE爲：
60% = US$360m ÷ US$598m (Based on the trailing twelve months to March 2024).
60％ = 3.6億美元 ÷ 5.98億美元（截至2024年3月的過去12個月時間段）。
The 'return' refers to a company's earnings over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.60 in profit.
“回報”是指公司過去一年的收益。這意味着，對於每1美元的股東權益，公司創造了0.60美元的利潤。
Does Sealed Air Have A Good Return On Equity?
Sealed Air的淨資產收益率好嗎？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As is clear from the image below, Sealed Air has a better ROE than the average (16%) in the Packaging industry.
確定公司是否有良好的淨資產收益率的一個簡單方法是將其與所在行業的平均水平進行比較。但需要注意的是，隨着同一行業分類中公司差異的顯著存在，這種方法並不完美。正如以下圖像所示，Sealed Air在包裝行業的ROE高於平均水平（16％）。
That's what we like to see. With that said, a high ROE doesn't always indicate high profitability. Especially when a firm uses high levels of debt to finance its debt which may boost its ROE but the high leverage puts the company at risk. Our risks dashboardshould have the 2 risks we have identified for Sealed Air.
我們喜歡看到這種情況。但需要指出的是，高淨資產收益率並不總是意味着高盈利能力。特別是當公司使用大量債務來融資，這可能會提高其淨資產收益率，但高槓杆也會使公司面臨風險。我們的風險面板應該顯示了我們已爲Sealed Air確定的兩個風險。
How Does Debt Impact Return On Equity?
債務如何影響股東回報率？
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 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. 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，實現利潤增長。這些資金可以來自留存收益、發行新股（股權）或債務。對於前兩種情況，ROE將反映這種用於增長的資金使用情況。在後一種情況下，用於增長的債務將提高回報率，但不會影響總資產淨值。通過這種方式，債務利用將提高ROE，即使業務的核心經濟表現保持不變也是如此。
Sealed Air's Debt And Its 60% ROE
Sealed Air的債務和60％的ROE
We think Sealed Air uses a significant amount of debt to maximize its returns, as it has a significantly higher debt to equity ratio of 7.76. Its ROE is clearly quite good, but it seems to be boosted by the significant use of debt by the company.
我們認爲Sealed Air使用了大量的債務來最大程度地提高其回報率，因爲其債股比高達7.76。其ROE顯然相當不錯，但似乎受到公司大量使用債務的影響。
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. All else being equal, a higher ROE is better.
ROE是評估企業創造利潤並將其歸還給股東的能力的有用指標。如果一家公司沒有負債就能實現高ROE，那麼可以認爲它是一家高質量的公司。其他條件相同，較高的ROE更好。
But when a business is high quality, the market often bids it up to a price that reflects this. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.
但是，當企業具有高質量時，市場通常會將其競價提高到反映這一點的價格。重要的是考慮其他因素，例如未來的利潤增長 – 以及未來需要多少投資。因此，您可能需要看一下該公司預測數據豐富，交互式圖形。
But note: Sealed Air 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：Sealed Air可能不是最好的股票購買選擇。因此，可以查看這個免費的有高ROE和低債務的有趣公司列表。
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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.
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
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譯文內容由第三人軟體翻譯。