Should You Be Impressed By Rockwell Automation, Inc.'s (NYSE:ROK) ROE?
Should You Be Impressed By Rockwell Automation, Inc.'s (NYSE:ROK) ROE?
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. To keep the lesson grounded in practicality, we'll use ROE to better understand Rockwell Automation, Inc. (NYSE:ROK).
雖然一些投資者對財務指標（致謝）已經瞭如指掌，但這篇文章是爲那些想了解淨資產收益率（roe）及其重要性的人。爲了讓課程腳踏實地，我們將使用roe更好地了解羅克韋爾自動化股份有限公司（紐交所:ROK）。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
淨資產收益率（ROE）是衡量公司增值和管理投資者資金有效性的測試。換句話說，它是一種盈利能力比率，用於衡量公司股東提供的資金回報率。
How To Calculate Return On Equity?
如何計算股東權益報酬率？
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算：
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 Rockwell Automation is:
因此，根據上述公式，羅克韋爾自動化的roe爲：
26% = US$915m ÷ US$3.5b (Based on the trailing twelve months to June 2024).
26% = 美元91500萬 ÷ 美元35億（基於截至2024年6月的過去12個月）。
The 'return' refers to a company's earnings over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.26.
「回報」是指公司過去一年的盈利。因此，這意味着對於每1美元股東投資，公司就會創造0.26美元的利潤。
Does Rockwell Automation Have A Good ROE?
羅克韋爾自動化的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. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As is clear from the image below, Rockwell Automation has a better ROE than the average (12%) in the Electrical industry.
判斷一個公司的淨資產收益率是否良好的一種簡單方法是將其與所在行業的平均值進行比較。 重要的是，這遠非是一個完美的衡量標準，因爲同一行業中的公司之間存在顯著差異。 正如下圖所示，羅克韋爾自動化在電器行業的roe表現優於平均水平（12%）。
That is a good sign. 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. You can see the 2 risks we have identified for Rockwell Automation by visiting our risks dashboard for free on our platform here.
這是一個好的跡象。請記住，高淨資產收益率並不總是意味着出色的財務表現。尤其是當一家公司使用高水平的債務來融資企業，可能會提高其淨資產收益率，但高槓杆會使公司面臨風險。 您可以免費訪問我們平台上的風險儀表板，了解我們爲羅克韋爾自動化確定的2種風險。
How Does Debt Impact ROE?
債務對ROE的影響是怎樣的？
Most companies need money -- from somewhere -- to grow their profits. That cash can come from retained earnings, issuing new shares (equity), or debt. In the first two cases, the ROE will capture this use of capital to grow. 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來增加利潤。這筆資金可以來自未分配利潤、發行新股（股本）或債務。在前兩種情況下，股東權益回報率將捕捉到這種資本的使用以實現增長。而在後一種情況下，債務的使用將提高回報率，但不會改變股東權益。以這種方式，債務的使用將提高股東權益回報率，儘管企業的核心經濟學表現保持不變。
Combining Rockwell Automation's Debt And Its 26% Return On Equity
結合羅克韋爾自動化的債務和其26%的淨資產收益率
Rockwell Automation clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.05. There's no doubt the ROE is impressive, but it's worth keeping in mind that the metric could have been lower if the company were to reduce its 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.
羅克韋爾自動化顯然使用了大量債務來提高回報率，因爲其資產負債比率爲1.05。毫無疑問，淨資產收益率令人印象深刻，但值得注意的是，如果公司能夠減少債務，這個指標可能會更低。債務增加了風險，並減少了公司未來的選擇，因此通常希望通過使用債務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. 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.
股本回報率是評估企業生成利潤並將其返還給股東能力的有用指標。能夠在不使用過多債務的情況下實現高回報率的公司通常是高質量的公司。如果兩家公司具有相同的ROE，那麼我通常會更喜歡負債較少的公司。
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ROE只是一個更大拼圖中的一部分，因爲高質量的企業往往以高倍數的收益交易。利潤增長率與股票價格所反映的預期之間的差異，是特別需要考慮的因素。所以你可能想要檢查一下公司分析師預測的這個免費可視化工具。
But note: Rockwell Automation 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：羅克韋爾自動化可能並不是最佳的股票買入選擇。因此，請查看這份有着高淨資產收益率和低債務的有趣公司的免費名單。
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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。
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