Can C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Maintain Its Strong Returns?
Can C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Maintain Its Strong Returns?
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 C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW).
許多投資者仍在了解有用的各種指標來分析股票。本文是爲那些想學習ROE(Return On Equity)的人而寫的。通過學以致用，我們將研究ROE以更好地了解羅賓遜物流行業板塊（NASDAQ: CHRW）。
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE（淨資產收益率）是股東需考慮的一個重要因素，因爲它告訴他們資本被有效地再投資的效果如何。換句話說，它揭示了公司將股東的投資轉化爲利潤的成功程度。
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 C.H. Robinson Worldwide is:
因此，根據上述公式，羅賓遜物流的ROE爲：
21% = US$303m ÷ US$1.4b (Based on the trailing twelve months to March 2024).
21％= 3.03億美元 ÷ 14億美元（截至2024年3月的過去十二個月）。
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.21 in profit.
“回報”是過去12個月納稅後獲得的收益。另一種思考方式是對於每1美元的資產淨值，公司能夠獲得0.21美元的利潤。
Does C.H. Robinson Worldwide Have A Good ROE?
羅賓遜物流的ROE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. As you can see in the graphic below, C.H. Robinson Worldwide has a higher ROE than the average (12%) in the Logistics industry.
一個簡單的方法來判斷一家公司是否擁有良好的股東權益回報率是將其與同行業平均水平進行比較。但是，這種方法只能作爲大致檢查的工具，因爲同一行業分類中的公司差異相當大。如下圖所示，羅賓遜物流的ROE高於物流行業的平均水平（12％）。
That's clearly a positive. Bear in mind, a high ROE doesn't always mean superior financial performance. 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 3 risks we have identified for C.H. Robinson Worldwide.
這顯然是一個積極的信號。請記住，高ROE並不總是意味着卓越的財務績效。特別是當公司使用高比例的債務來融資其債務時，可能會提高其ROE，但高槓杆會使公司面臨風險。我們的風險儀表板應該列出了我們爲羅賓遜物流標識的3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 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.
公司通常需要投資來增加利潤。資金可以來自保留收益，發行新股（股權）或債務。在前兩種選擇的情況下，ROE將反映出這種用於增長的現金。在後一種情況下，用於增長的債務將提高回報，但不會影響總權益。通過這種方式，雖然企業的核心經濟學保持不變，但債務的使用將提高ROE。
C.H. Robinson Worldwide's Debt And Its 21% ROE
羅賓遜物流的債務和其21％的ROE
It's worth noting the high use of debt by C.H. Robinson Worldwide, leading to its debt to equity ratio of 1.19. 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.
值得注意的是，羅賓遜物流使用的債務較高，導致其債務股本比爲1.19。儘管其ROE令人滿意，但值得記住的是，公司可以使用的債務通常是有限的。債務增加了風險，並減少了公司未來的選擇，因此您通常會希望從中獲得一些良好的回報。
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 the same ROE, then I would generally prefer the one with less debt.
ROE是評估企業能否創造利潤並將其返還給股東的有用指標。在我們的清單中，最高品質的公司具有高回報率，儘管負債較低。如果兩家公司的ROE相同，那麼我通常更喜歡負債較小的公司。
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. 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.
儘管如此，雖然ROE是業務質量的一個有用指標，但您需要查看一整套因素來確定正確的股票購買價格。重要的是要考慮其他因素，例如未來的利潤增長，以及未來需要多少投資。因此，您可能需要查看這個數據豐富的交互式預測圖。
Of course C.H. Robinson Worldwide 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，羅賓遜物流可能不是最好的股票買入選擇。因此，您可能希望查看其他股票的免費收藏，這些股票具有較高的ROE和較低的債務。
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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.
對本文有任何反饋？對內容有任何疑慮？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
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。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。