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Should You Be Impressed By Mister Car Wash, Inc.'s (NYSE:MCW) ROE?
Should You Be Impressed By Mister Car Wash, Inc.'s (NYSE:MCW) ROE?
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. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Mister Car Wash, Inc. (NYSE:MCW).
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.
See our latest analysis for Mister Car Wash
How To Calculate Return On Equity?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Mister Car Wash is:
17% = US$131m ÷ US$776m (Based on the trailing twelve months to September 2022).
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 $0.17 in profit.
Does Mister Car Wash Have A Good Return On Equity?
Arguably the easiest way to assess company's ROE is to compare it with the average in 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, Mister Car Wash has a better ROE than the average (12%) in the Consumer Services industry.
NYSE:MCW Return on Equity December 21st 2022That's clearly a positive. Bear in mind, a high ROE doesn't always mean superior financial performance. Aside from changes in net income, a high ROE can also be the outcome of high debt relative to equity, which indicates risk. To know the 2 risks we have identified for Mister Car Wash visit our risks dashboard for free.
How Does Debt Impact ROE?
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 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.
Mister Car Wash's Debt And Its 17% ROE
Mister Car Wash does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.15. There's no doubt its ROE is decent, but the very high debt the company carries is not too exciting to see. 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.
Conclusion
Return on equity is one way we can compare its business quality of different companies. 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.
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.
If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
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.
尽管一些投资者已经精通财务指标(帽子提示),但本文适合那些想了解股本回报率(ROE)及其重要性的人。通过边干边学,我们将研究投资回报率,以更好地了解Mister Car Wash, Inc.(纽约证券交易所代码:MCW)。
股本回报率或投资回报率是股东需要考虑的重要因素,因为它可以告诉他们资本再投资的有效性。换句话说,它是衡量公司股东提供的资本回报率的盈利比率。
查看我们对 Mister Car Wash 的最新分析
如何计算股本回报率?
ROE 的公式是:
股本回报率 = 净利润(来自持续经营业务)÷ 股东权益
因此,根据上述公式,Mister Car Wash 的投资回报率为:
17% = 1.31亿美元 ¥7.76亿美元(基于截至2022年9月的过去十二个月)。
“申报表” 是过去十二个月的税后收入。这意味着,每获得1美元的股东权益,公司就会产生0.17美元的利润。
Mister Car Wash 的股本回报率不错吗?
可以说,评估公司投资回报率的最简单方法是将其与行业平均水平进行比较。重要的是,这远非一个完美的衡量标准,因为在同一行业分类中,公司差异很大。从下图可以清楚地看出,Mister Car Wash的投资回报率高于消费者服务行业的平均水平(12%)。
纽约证券交易所:MCW 股本回报率 2022 年 12 月 21 日这显然是积极的。请记住,高投资回报率并不总是意味着卓越的财务业绩。除了净收入的变化外,高投资回报率也可能是债务相对于权益较高的结果,这表明存在风险。要了解我们为 Mister Car Wash 确定的两大风险,请免费访问我们的风险仪表板。
债务如何影响投资回报率?
大多数公司需要来自某个地方的钱来增加利润。这些现金可以来自留存收益、发行新股(股权)或债务。在前两种情况下,ROE将利用这种资本来增长。在后一种情况下,用于增长的债务将提高回报,但不会影响总权益。通过这种方式,债务的使用将提高投资回报率,尽管企业的核心经济状况保持不变。
洗车先生的债务及其17%的投资回报率
Mister Car Wash 确实使用了大量债务来增加回报。它的负债权益比率为1.15。毫无疑问,其投资回报率不错,但该公司背负的高额债务并不令人兴奋。投资者应该仔细考虑如果一家公司无法如此轻易地借款,它会如何表现,因为信贷市场确实会随着时间的推移而变化。
结论
股本回报率是我们可以比较不同公司的业务质量的一种方式。在我们的账簿中,尽管债务很低,但质量最高的公司的股本回报率却很高。如果两家公司的投资回报率相同,那么我通常更喜欢负债较少的公司。
但是投资回报率只是更大难题中的一部分,因为高质量的企业通常以高倍的收益进行交易。与股票价格所反映的预期相比,利润增长率尤其值得考虑。因此,您可能需要查看该公司的分析师预测的免费可视化效果。
如果你更愿意去另一家公司——一家财务状况可能优越的公司——那么千万不要错过这份免费的股本回报率高、债务低的有趣公司的名单。
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。
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风险及免责提示
moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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