Why Insulet Corporation (NASDAQ:PODD) Looks Like A Quality Company
Why Insulet Corporation (NASDAQ:PODD) Looks Like A Quality Company
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 Insulet Corporation (NASDAQ:PODD).
當分析一支股票時，很多投資者仍在學習各種有用的指標。本文是給那些想要了解股票回報率（ROE）的人。通過學以致用，我們將研究ROE，以更好地了解Insulet Corporation（NASDAQ：PODD）的情況。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股東權益回報率ROE是測試公司增值能力和管理股東投資的有效性的指標。更簡單地說，它衡量公司在股東權益中的盈利能力。
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 Insulet is:
因此，根據上述公式，Insulet的ROE爲:
30% = US$234m ÷ US$791m (Based on the trailing twelve months to March 2024).
30%=2.34億美元÷7.91億美元（截至2024年3月）。
The 'return' is the income the business earned over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.30.
“回報率”是企業上一年度的收益。這意味着，對於每1美元的股東投資，公司創造了0.30美元的利潤。
Does Insulet Have A Good Return On Equity?
Insulet的回報率良好嗎？
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. Pleasingly, Insulet has a superior ROE than the average (11%) in the Medical Equipment industry.
判斷一個公司的回報率是否良好的一個簡單方法是將其與行業平均水平進行比較。這種方法的侷限性在於，即使在同一行業中，有些公司也可能與其他公司非常不同。令人高興的是，Insulet的ROE（11％）高於醫療設備行業的平均水平。
That is a good sign. 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. You can see the 2 risks we have identified for Insulet by visiting our risks dashboard for free on our platform here.
這是一個好兆頭。儘管如此，高的ROE並不總是意味着高的盈利能力。特別是當一家公司使用高負債水平來融資其債務時，雖然高槓杆會提高ROE，但高槓杆會將公司置於風險之中。您可以通過訪問我們的網站了解我們已識別出的兩個Insulet風險。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。
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？
Most companies need money -- from somewhere -- to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. 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 used for growth will improve returns, but won't affect the total equity. That will make the ROE look better than if no debt was used.
大多數公司需要資金才能增加其利潤。投資所需的現金可以來自前年的利潤（保留收益），發行新股或借債等方式。在第一種和第二種情況下，ROE將反映這些用於投資的現金的使用方式。在後一種情況下，用於增長的債務將改善收益，但不會影響總股本。這將使ROE看起來比未使用債務時更好。
Insulet's Debt And Its 30% ROE
Insulet的債務和其30％的ROE
It's worth noting the high use of debt by Insulet, leading to its debt to equity ratio of 1.77. Its ROE is pretty impressive but, it would have probably been lower without the use of debt. Investors should think carefully about how a company might perform if it was unable to borrow so easily, because credit markets do change over time.
值得注意的是，Insulet高額使用債務，導致其負債權益比爲1.77。其ROE非常出色，但如果沒有使用債務，它可能會更低。投資者應仔細考慮一家公司如果不能輕易借到債務會表現如何，因爲信貸市場確實隨時間變化。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
Return on equity is useful for comparing the quality of different businesses. Companies that can achieve high returns on equity without too much debt are generally of good quality. If two companies have the same ROE, then I would generally prefer the one with less debt.
股本回報率有助於比較不同企業的質量。能夠在不太多債務的情況下實現高roe的公司通常都是高質量的。如果兩家公司的roe相同，則我通常更喜歡那家負債較少的公司。
But when a business is high quality, the market often bids it up to a price that reflects this. 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，當一個公司業務高品質時，市場通常會將其推高到反映這一點的價格。應該考慮利潤增長的速度，相對於當前價格反映的利潤增長預期的速度。因此，您可能希望檢查這家公司的分析師預測的免費可視化效果。
Of course Insulet 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，Insulet可能不是最好的購買股票。因此，您可能希望查看其他具有高ROE和低債務的公司的免費收藏。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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
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@simplywallst.com。
譯文內容由第三人軟體翻譯。