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How Did Sonic Automotive, Inc.'s (NYSE:SAH) 19% ROE Fare Against The Industry?

How Did Sonic Automotive, Inc.'s (NYSE:SAH) 19% ROE Fare Against The Industry?

索尼克汽車公司(紐交所:SAH)的19% ROE在行業板塊中表現如何?
Simply Wall St ·  11/04 23:00

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. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Sonic Automotive, Inc. (NYSE:SAH).

我們可以進行的最好投資之一是投資於自己的知識和技能。考慮到這一點,本文將通過如何使用roe更好地了解一個業務來闡述。通過學以致用,我們將查看roe,以更好地了解索尼克汽車(紐交所:SAH)。

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Put another way, it reveals the company's success at turning shareholder investments into profits.

ROE或股東權益報酬率是一種有用的工具,用於評估一家公司能否有效地利用來自股東的投資產生回報。換句話說,它揭示了公司將股東的投資變成利潤的成功程度。

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 Sonic Automotive is:

因此,基於以上公式,索尼克汽車的ROE爲:

19% = US$196m ÷ US$1.0b (Based on the trailing twelve months to September 2024).

19% = 19600萬美元 ÷ 10億美元(根據2024年9月止最近十二個月)。

The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.19 in profit.

「回報」是最近十二個月內稅後盈利的金額。這意味着對於每1美元的股東權益,公司創造了0.19美元的利潤。

Does Sonic Automotive Have A Good ROE?

索尼克汽車的roe表現如何?

By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. If you look at the image below, you can see Sonic Automotive has a similar ROE to the average in the Specialty Retail industry classification (19%).

通過將公司的roe與行業平均值進行比較,我們可以快速衡量其表現。這種方法的侷限性在於,一些公司在同一行業分類中可能相差很大。如果您看下面的圖片,您會發現索尼克汽車的roe與專業零售行業分類(19%)的平均值相似。

big
NYSE:SAH Return on Equity November 4th 2024
紐交所:SAH 來自2024年11月4日的淨資產回報率

That's neither particularly good, nor bad. Although the ROE is similar to the industry, we should still perform further checks to see if the company's ROE is being boosted by high debt levels. If true, then it is more an indication of risk than the potential. Our risks dashboardshould have the 2 risks we have identified for Sonic Automotive.

這既不是特別好,也不是壞。雖然roe與行業相似,但我們仍應進一步檢查公司的roe是否受到高債務水平的推動。如果是真的,那麼這更多是風險的指標,而不是潛力。我們的風險儀表板應該顯示了我們爲索尼克汽車確定的兩個風險。

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. 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 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.

幾乎所有公司都需要資金來投資業務以增加利潤。 投資的現金可以來自前年的利潤(留存收益),發行新股或借貸。 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,用於增長的債務將改善回報,但不會影響總股本。 這將使roe看起來比不使用債務的情況要好。

Combining Sonic Automotive's Debt And Its 19% Return On Equity

將索尼克汽車的債務和其19%的股本回報結合起來

It seems that Sonic Automotive uses a huge volume of debt to fund the business, since it has an extremely high debt to equity ratio of 3.48. Its ROE is respectable, but it's not so impressive once you consider all of the debt.

看起來索尼克汽車使用大量債務來資助業務,因爲其極高的資產負債比率爲3.48。其roe值得尊重,但一旦考慮到所有債務,就並不那麼令人印象深刻。

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 around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.

股東權益回報率對比不同企業的質量很有用。沒有太多債務就能取得高股東權益回報率的公司通常質量較好。如果兩家公司的債權與股權大致相同,而一家公司的股東權益回報率較高,則我通常會更喜歡具有較高股東權益回報率的公司。

But when a business is high quality, the market often bids it up to a price that reflects this. 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,當一個業務質量高的公司時,市場通常會將其競拍到反映這一點的價格。利潤增長率相對於股票價格反映的預期,是特別重要考慮的因素。因此,您可能想要查看分析師對該公司的預測的這個免費可視化。

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

當然,您也可能通過尋找其他地方來找到出色的投資。因此,不妨查看這個有趣公司的免費列表。

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。

譯文內容由第三人軟體翻譯。


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