How Good Is NiSource Inc. (NYSE:NI), When It Comes To ROE?
How Good Is NiSource Inc. (NYSE:NI), When It Comes To ROE?
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity 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). To keep the lesson grounded in practicality, we'll use ROE to better understand NiSource Inc. (NYSE:NI).
許多投資者仍在學習有關在分析股票時有用的各種指標。本文是爲那些想要了解股東權益回報率（roe）的人而寫的。爲了使課堂更加貼近實際情況，我們將使用roe來更好地理解印北瓦電（紐交所：NI）。
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？
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（來自持續經營） ÷ 股東權益
So, based on the above formula, the ROE for NiSource is:
因此，根據上述公式，印北瓦電的roe爲：
7.7% = US$792m ÷ US$10b (Based on the trailing twelve months to September 2024).
7.7% = 79200萬美元 ÷ 100億美元（基於截至2024年9月的過去十二個月）。
The 'return' is the yearly profit. That means that for every $1 worth of shareholders' equity, the company generated $0.08 in profit.
「回報」是每年的利潤。這意味着每1美元的股東權益產生了0.08美元的利潤。
Does NiSource Have A Good Return On Equity?
印北瓦電的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. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. The image below shows that NiSource has an ROE that is roughly in line with the Integrated Utilities industry average (9.2%).
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。然而，這種方法只能作爲一個粗略檢查，因爲同一行業中的公司之間差異相當大。下面的圖片顯示，印北瓦電的roe大致與綜合公用股行業平均值(9.2%)相當。
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 a company takes on too much debt, it is at higher risk of defaulting on interest payments. You can see the 3 risks we have identified for NiSource by visiting our risks dashboard for free on our platform here.
這既不特別好，也不糟糕。儘管roe與行業相似，我們仍然應當進行進一步檢查，以確定公司的roe是否受到高債務水平的提振。如果一家公司負債過多，就面臨着利息支付違約的風險。您可以在我們的平台免費訪問風險儀表盤，了解我們爲印北瓦電確定的3個風險。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
Virtually all companies need money to invest in the business, to grow profits. That cash can come from issuing shares, retained earnings, or debt. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the use of debt will improve the returns, but will not change the 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投資業務以增加利潤。這筆資金可以來自股票發行，留存收益或債務。在前兩種情況下，ROE將反映這種用於投資業務的現金使用方式。在後一種情況下，債務的使用將提高回報率，但不會改變股權。這將使ROE看起來比沒有使用債務的情況更好。
Combining NiSource's Debt And Its 7.7% Return On Equity
整合印北瓦電的負債和7.7%的淨資本回報率
NiSource does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.20. With a fairly low ROE, and significant use of debt, it's hard to get excited about this business at the moment. 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.
印北瓦電確實使用大量債務來提高回報率。它的債務股本比率爲1.20。有着相當低的roe和顯著的債務使用，目前很難對這家業務感到興奮。投資者應該認真考慮一家公司如果不能輕鬆借款會有怎樣的表現，因爲信貸市場的情況隨着時間會發生變化。
Summary
總結
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. A company that can achieve a high return on equity without debt could be considered a high quality business. 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.
淨資產收益率是衡量企業創造利潤並將其返還給股東的能力的有用指標。如果一家公司能夠在沒有債務的情況下實現高回報股東的回報，那麼可以認爲這是一家高質量的公司。如果兩家公司的股權和債務水平大致相同，並且一家公司的ROE較高，那麼我通常會選擇那個ROE較高的公司。
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roe是衡量企業質量的一個有用指標，但您還需要考慮一整套因素來確定購買股票的正確價格。重要的是要考慮其他因素，例如未來利潤增長——以及未來需要多少投資。所以您可能想要查看這個數據豐富的交互圖表，了解該公司的預測。
But note: NiSource 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：印北瓦電可能不是最佳的股票買入選擇。所以，看看這份免費的高roe和低債務的有趣公司清單。
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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論，使用公正的方法，我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議，並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意，我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。
譯文內容由第三人軟體翻譯。
