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).
我們能做的最好的投資之一就是我們自己的知識和技能。考慮到這一點，本文將討論如何使用股本回報率(ROE)來更好地瞭解企業。通過邊做邊學的方式，我們將關注淨資產收益率，以更好地瞭解阿爾達格金屬包裝公司(紐約證券交易所代碼：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.
淨資產收益率，即股本回報率，是評估一家公司從股東那裡獲得投資回報的有效程度的有用工具。換句話說，它揭示了該公司成功地將股東投資轉化為利潤。
Check out our latest analysis for Ardagh Metal Packaging
查看我們對Ardagh金屬包裝的最新分析
How To Calculate Return On Equity?
如何計算股本回報率？
The formula for return on equity is:
這個股本回報率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率=(持續經營的)淨利潤？股東權益
So, based on the above formula, the ROE for Ardagh Metal Packaging is:
因此，根據上面的公式，阿爾達格金屬包裝的淨資產收益率為：
48% = US$179m ÷ US$376m (Based on the trailing twelve months to March 2023).
48%=1.79億美元×3.76億美元(基於截至2023年3月的12個月的往績)。
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.
“報稅表”是過去12個月的稅後收入。另一種說法是，公司每持有價值1美元的股票，就能賺取0.48美元的利潤。
Does Ardagh Metal Packaging Have A Good ROE?
阿爾達格金屬包裝的淨資產收益率好嗎？
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.
可以說，評估公司淨資產收益率最簡單的方法是將其與所在行業的平均水準進行比較。然而，這種方法只是作為一種粗略的檢查，因為在同一行業分類中，公司確實有很大的不同。正如您在下圖中看到的，Ardagh金屬包裝的淨資產收益率高於包裝行業的平均回報率(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.
這是一個好兆頭。請記住，高淨資產收益率並不總是意味著更好的財務表現。債務在公司資本結構中的比例較高也可能導致較高的淨資產收益率，而較高的債務水準可能是一個巨大的風險。要了解我們為Ardagh金屬包裝確定的4個風險，請免費訪問我們的風險儀錶板。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
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.
大多數公司都需要資金--從某個地方--來增加利潤。投資的現金可以來自上一年的利潤(留存收益)、發行新股或借款。在第一種和第二種情況下，淨資產收益率將反映對企業投資的現金使用情況。在後一種情況下，增長所需的債務將提高回報，但不會影響股東權益。這將使淨資產收益率看起來比不使用債務的情況下更好。
Combining Ardagh Metal Packaging's Debt And Its 48% Return On Equity
將阿爾達格金屬包裝公司的債務和48%的股本回報率結合起來
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.
似乎阿爾達格金屬包裝公司使用了大量的債務來為業務提供資金，因為它的債務與股本比率非常高，達到8.85。其淨資產收益率顯然相當不錯，但似乎是受到了該公司大量使用債務的提振。
Conclusion
結論
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.
股本回報率是衡量一家企業產生利潤並將其返還給股東的能力的有用指標。一家能夠在沒有債務的情況下實現高股本回報率的公司可以被認為是一家高質量的企業。如果兩家公司的債務權益比大致相同，而其中一家公司的淨資產收益率更高，我通常會更喜歡淨資產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.
但淨資產收益率只是一個更大的謎題的一部分，因為高質量企業的本益比往往很高。相對於股價反映的預期，利潤增長率是一個特別重要的考慮因素。所以我覺得這可能值得一查免費分析師對該公司的預測報告.
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.
但請注意：阿爾達格金屬包裝公司可能不是最值得買入的股票。所以讓我們來看看這個免費高淨資產收益率和低負債的有趣公司名單。
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本文由Simply Wall St.撰寫，具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.