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With A 8.7% Return On Equity, Is Evoqua Water Technologies Corp. (NYSE:AQUA) A Quality Stock?
With A 8.7% Return On Equity, Is Evoqua Water Technologies Corp. (NYSE:AQUA) A Quality Stock?
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 Evoqua Water Technologies Corp. (NYSE:AQUA).
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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
View our latest analysis for Evoqua Water Technologies
How Is ROE Calculated?
ROE can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Evoqua Water Technologies is:
8.7% = US$58m ÷ US$662m (Based on the trailing twelve months to June 2022).
The 'return' is the income the business earned over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.09 in profit.
Does Evoqua Water Technologies Have A Good Return On Equity?
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. As shown in the graphic below, Evoqua Water Technologies has a lower ROE than the average (13%) in the Machinery industry classification.
NYSE:AQUA Return on Equity September 24th 2022That's not what we like to see. That being said, a low ROE is not always a bad thing, especially if the company has low leverage as this still leaves room for improvement if the company were to take on more debt. A company with high debt levels and low ROE is a combination we like to avoid given the risk involved. You can see the 2 risks we have identified for Evoqua Water Technologies by visiting our risks dashboard for free on our platform here.
How Does Debt Impact ROE?
Virtually all companies need money to invest in the business, to grow profits. That cash can come from retained earnings, issuing new shares (equity), 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 debt required for growth will boost returns, but will not impact the shareholders' equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
Evoqua Water Technologies' Debt And Its 8.7% ROE
Evoqua Water Technologies does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.40. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
Summary
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. All else being equal, a higher ROE is better.
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to check this FREE visualization of analyst forecasts for the company.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
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.
许多投资者仍在学习在分析股票时可能有用的各种指标。这篇文章是为那些想了解股本回报率(ROE)的人准备的。通过边做边学的方式,我们将关注净资产收益率,以更好地了解依沃库水务技术公司(纽约证券交易所股票代码:AQA)。
股本回报率或净资产收益率是股东要考虑的一个重要因素,因为它告诉他们他们的资本再投资的效率。简而言之,净资产收益率显示了每一美元相对于其股东投资产生的利润。
查看我们对Evoqua Water Technologies的最新分析
净资产收益率是如何计算的?
可使用以下公式计算净资产收益率:
股本回报率=(持续经营的)净利润?股东权益
因此,根据上述公式,Evoqua Water Technologies的净资产收益率为:
8.7%=5800万美元?6.62亿美元(基于截至2022年6月的12个月)。
“回报”指的是企业在过去一年中获得的收入。另一种想法是,每价值1美元的股本,公司就能够赚取0.09美元的利润。
Evoqua水务技术公司的股本回报率高吗?
通过将一家公司的净资产收益率(ROE)与其行业平均水平进行比较,我们可以快速衡量它有多好。然而,这种方法只是作为一种粗略的检查,因为在同一行业分类中,公司确实有很大的不同。如下图所示,依沃库水务技术公司的净资产收益率低于机械行业分类的平均水平(13%)。
纽约证券交易所:Aqua股本回报率2022年9月24日这不是我们希望看到的。话虽如此,低ROE并不总是一件坏事,特别是如果公司的杠杆率较低,因为如果公司承担更多债务,这仍有改进的空间。考虑到涉及的风险,高债务水平和低ROE的公司是我们希望避免的组合。您可以访问我们的网站查看我们为Evoqua Water Technologies确定的两个风险风险控制面板在我们的平台上是免费的。
债务对净资产收益率有何影响?
几乎所有的公司都需要资金来投资于业务,以增加利润。这些现金可以来自留存收益、发行新股(股权)或债务。在第一种和第二种情况下,净资产收益率将反映对企业投资的现金使用情况。在后一种情况下,增长所需的债务将提高回报,但不会影响股东权益。在这种情况下,债务的使用将提高净资产收益率,即使企业的核心经济保持不变。
Evoqua Water Technologies的债务及其8.7%的净资产收益率
Evoqua Water Technologies确实使用了大量债务来增加回报。它的债务与股本比率为1.40。它的净资产收益率相当低,即使使用了大量债务;在我们看来,这不是一个好结果。债务增加了风险,减少了公司未来的选择,所以你通常希望看到使用它的一些良好回报。
摘要
股本回报率是衡量一家企业产生利润并将其返还给股东的能力的有用指标。能够在没有太多债务的情况下实现高股本回报率的公司通常质量良好。在其他条件相同的情况下,净资产收益率越高越好。
但净资产收益率只是一个更大的谜题的一部分,因为高质量企业的市盈率往往很高。相对于当前价格反映的利润增长预期,也必须考虑利润可能增长的速度。因此,你可能想查看分析师对该公司预测的免费可视化。
当然了,如果你把目光投向别处,你可能会发现这是一笔很棒的投资。所以让我们来看看这个免费有趣的公司名单。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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