A Closer Look At Burlington Stores, Inc.'s (NYSE:BURL) Impressive ROE
A Closer Look At Burlington Stores, Inc.'s (NYSE:BURL) Impressive ROE
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 Burlington Stores, Inc. (NYSE:BURL).
許多投資者正在學習分析股票時可以使用的各種指標。本文是爲那些想了解ROE（淨資產收益率）的人準備的。通過實踐學習的方式，我們將觀察ROE，以更好地了解Burlington Stores, Inc.（NYSE：BURL）。
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 To Calculate Return On Equity?
如何計算股東權益報酬率？
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 Burlington Stores is:
因此，根據上述公式，伯靈頓百貨的ROE爲:
37% = US$385m ÷ US$1.0b (Based on the trailing twelve months to May 2024).
37％= 3.8500億美元 ÷ 10億美元（基於截至2024年5月的過去12個月）。
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 $0.37 in profit.
‘回報’是指公司上一年的收益。這意味着對於每個1美元的股東權益，公司產生了0.37美元的利潤。
Does Burlington Stores Have A Good ROE?
伯靈頓百貨的ROE表現如何？
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. Pleasingly, Burlington Stores has a superior ROE than the average (19%) in the Specialty Retail industry.
判斷公司是否擁有優秀的ROE的一個簡單方法是將其與所在行業的平均水平進行比較。然而，這種方法只是一個初步的檢查，因爲在同一行業分類中公司之間的差異相當大。令人欣喜的是，伯靈頓百貨的ROE比專業零售行業平均水平（19%）高出許多。
That's what we like to see. With that said, a high ROE doesn't always indicate high profitability. A higher proportion of debt in a company's capital structure may also result in a high ROE, where the high debt levels could be a huge risk . Our risks dashboardshould have the 2 risks we have identified for Burlington Stores.
這正是我們所希望看到的。但是，高ROE並不總是表明高盈利能力。公司資本結構中債務比例較高可能導致高ROE，其中高債務水平可能是巨大的風險。我們的風險儀表板列出了我們爲伯靈頓百貨識別的兩種風險。
How Does Debt Impact Return On Equity?
債務如何影響股東回報率？
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 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. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
大多數公司需要資金——從某個地方——來增加其利潤。投資的現金可以來自於前一年的利潤（留存收益）、發行新股或借款。就前兩個選項而言，ROE將反映這種用於增長的現金利用情況。對於借款的情況，借款將提高回報率，但不會改變股權。以這種方式，債務的使用將提高ROE，即使企業的核心經濟業務保持不變。
Combining Burlington Stores' Debt And Its 37% Return On Equity
結合伯靈頓百貨的債務和其37%的淨資產收益率
Burlington Stores does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.34. Its ROE is pretty impressive but, it would have probably been lower without the use of debt. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
伯靈頓百貨確實利用了大量的債務來增加回報。其債務與股本比率爲1.34。雖然其ROE相當驚人，但如果不使用債務，它的ROE可能會更低。債務會增加風險並減少公司未來的選擇，因此通常希望能從中獲得一些良好的回報。
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 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 you might want to check this FREE visualization of analyst forecasts for the company.
但是roe只是更大難題中的一部分，因爲高質量的企業通常以高市盈率交易。考慮到股票價格所反映的預期，利潤增長率尤爲重要。因此，您可能需要查看該公司分析師預測的免費可視化工具。
But note: Burlington Stores 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：伯靈頓百貨可能不是最好的股票購買選擇。因此，請查看此免費的有高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？關注內容？請直接與我們聯繫。或者，發送電子郵件至editorial-team@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。