Can Ardagh Metal Packaging S.A. (NYSE:AMBP) Maintain Its Strong Returns?
Can Ardagh Metal Packaging S.A. (NYSE:AMBP) Maintain Its Strong Returns?
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 Ardagh Metal Packaging S.A. (NYSE:AMBP).
我们能做的最好的投资之一就是我们自己的知识和技能。考虑到这一点，本文将讨论如何使用股本回报率(ROE)来更好地了解企业。通过边做边学的方式，我们将关注净资产收益率，以更好地了解阿尔达格金属包装公司(纽约证券交易所代码：AMBP)。
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.
净资产收益率，即股本回报率，是评估一家公司从股东那里获得投资回报的有效程度的有用工具。换句话说，它揭示了该公司成功地将股东投资转化为利润。
Check out our latest analysis for Ardagh Metal Packaging
查看我们对Ardagh金属包装的最新分析
How To Calculate Return On Equity?
如何计算股本回报率？
The formula for return on equity is:
这个股本回报率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润？股东权益
So, based on the above formula, the ROE for Ardagh Metal Packaging is:
因此，根据上面的公式，阿尔达格金属包装的净资产收益率为：
48% = US$179m ÷ US$376m (Based on the trailing twelve months to March 2023).
48%=1.79亿美元×3.76亿美元(基于截至2023年3月的12个月的往绩)。
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.48 in profit.
“报税表”是过去12个月的税后收入。另一种说法是，公司每持有价值1美元的股票，就能赚取0.48美元的利润。
Does Ardagh Metal Packaging Have A Good ROE?
阿尔达格金属包装的净资产收益率好吗？
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As you can see in the graphic below, Ardagh Metal Packaging has a higher ROE than the average (22%) in the Packaging industry.
可以说，评估公司净资产收益率最简单的方法是将其与所在行业的平均水平进行比较。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。正如您在下图中看到的，Ardagh金属包装的净资产收益率高于包装行业的平均回报率(22%)。
That is a good sign. Bear in mind, a high ROE doesn't always mean superior financial performance. A higher proportion of debt in a company's capital structure may also result in a high ROE, where the high debt levels could be a huge risk . To know the 4 risks we have identified for Ardagh Metal Packaging visit our risks dashboard for free.
这是一个好兆头。请记住，高净资产收益率并不总是意味着更好的财务表现。债务在公司资本结构中的比例较高也可能导致较高的净资产收益率，而较高的债务水平可能是一个巨大的风险。要了解我们为Ardagh金属包装确定的4个风险，请免费访问我们的风险仪表板。
The Importance Of Debt To Return On Equity
债务对股本回报率的重要性
Most companies need money -- from somewhere -- to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. 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. That will make the ROE look better than if no debt was used.
大多数公司都需要资金--从某个地方--来增加利润。投资的现金可以来自上一年的利润(留存收益)、发行新股或借款。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。这将使净资产收益率看起来比不使用债务的情况下更好。
Combining Ardagh Metal Packaging's Debt And Its 48% Return On Equity
将阿尔达格金属包装公司的债务和48%的股本回报率结合起来
It seems that Ardagh Metal Packaging uses a huge volume of debt to fund the business, since it has an extremely high debt to equity ratio of 8.85. Its ROE is clearly quite good, but it seems to be boosted by the significant use of debt by the company.
似乎阿尔达格金属包装公司使用了大量的债务来为业务提供资金，因为它的债务与股本比率非常高，达到8.85。其净资产收益率显然相当不错，但似乎是受到了该公司大量使用债务的提振。
Conclusion
结论
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.
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。一家能够在没有债务的情况下实现高股本回报率的公司可以被认为是一家高质量的企业。如果两家公司的债务权益比大致相同，而其中一家公司的净资产收益率更高，我通常会更喜欢净资产收益率更高的那家公司。
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 I think it may be worth checking this free report on analyst forecasts for the company.
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。相对于股价反映的预期，利润增长率是一个特别重要的考虑因素。所以我觉得这可能值得一查免费分析师对该公司的预测报告。
But note: Ardagh Metal Packaging 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.
但请注意：阿尔达格金属包装公司可能不是最值得买入的股票。所以让我们来看看这个免费高净资产收益率和低负债的有趣公司名单。
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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。