I-ROE , emele " i-Return On Equity" ngesiSpanishi, ingenye yamathuluzi ayinhloko asetshenziselwa ukuhlaziya inzuzo yenkampani kwezomnotho.
Kuyini lokhu?
I-Return on equity (ROE) iyisilinganiso esilinganisa imbuyiselo umninimasheya ayitholayo ekutshalweni kwezimali kwakhe enkampanini . Ngamanye amazwi, i-ROE ihlola ikhono lenkampani lokunikeza imbuyiselo yezezimali kubanikazi bamasheya bayo.
Abanikazi bamasheya bangasebenzisa le pharamitha ukuhlaziya imbuyiselo enhloko -dolobha abayitshalile enkampanini, futhi ngale ndlela, bahlole ukuthi imali yabo iyasebenza yini kuleyo nkampani noma bayikhiphe ngaphambi kokuba umkhumbi ucwile.
Ungayibala kanjani i-ROE?
Imbuyiselo ku-equity, noma i-ROE , ihambelana ngqo nephesenti elitholwe ngokuhlukanisa inzuzo engenayo ngemva kwentela nge -equity.
Inzuzo ephelele ngemuva kwentela
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Izimali zakho
Le fomula ingaqondwa futhi njengendlela yokulinganisa ukuthi inkampani ethile itshala kanjani imali ethile ukuze ithole imali engenayo efanele.
I-ROE inezinhlelo zokusebenza emikhakheni eminingi, zonke izinkampani ezinkulu ziyayisebenzisa futhi isebenza kahle kakhulu ukuqinisekisa ukuthi kukhona inzuzo ngemuva kokutshala imali kuphrojekthi ethile.
Izici eziningi zingathonya ukubalwa okunembile kwale nzuzo, kodwa izici zokubala eziyinhloko nezingenakushintshwa sezivele zikhonjisiwe kuwe; zisebenzise njengepharamitha engenaphutha ukuqinisekisa indawo yamanje nengaba khona yesikhathi esizayo yokutshalwa kwezimali zakho.
Izicelo ezahlukahlukene ze-ROE
I-ROE ingasetshenziswa ngezindlela ezimbili ezahlukene: eyomtshali - zimali , kanye neyenkampani ezoyithola.
I-ROE ngombono womtshali-zimali
Imbuyiselo kumasheya ( ROE) , njengesilinganiso senzuzo, isibe ngenye yezindlela zokulinganisa ezisetshenziswa kakhulu ekuthuthukisweni okufanele nokusebenzayo kwezinkampani. Kwabaninimasheya, i-ROE ephezulu ibaluleke kakhulu kunenzuzo ephezulu ngokwemigomo ephelele.
Njengoba i-ROE iyinkomba ewusizo kakhulu yokuthi inkampani oyitshala imali kuyo iphatha futhi ikhiqiza kanjani inzuzo ngemali ebekwe kuyo , ngakho-ke iyipharamitha ebaluleke kakhulu okumele icatshangelwe ngaphandle kokungabaza uma ufuna ukwenza utshalomali lwesikhathi esimaphakathi neside, ukuqapha nokuqinisekisa utshalomali lwakho.
I-ROE evela kumbono wenkampani
Isizathu esiyinhloko sokuthi abaphathi bezezimali benkampani basebenzise i -ROE ukuqonda ukuthi izimali zabanikazi bamasheya zisetshenziswa kanjani nokuthi zingakhiqizwa kanjani inzuzo engcono . Ngaphezu kwalokho , i -ROE enamandla ibeka noma iyiphi inkampani esimweni esihle emakethe yamazwe ngamazwe , njengoba i -ROE ephezulu ibonisa inzuzo enkulu uma kuqhathaniswa ne -equity esetshenziselwa ukuxhasa ngezimali.
Ngamanye amazwi, i-ROE ibeka inkampani ohlotsheni lwezinga lokuthembela emhlabeni wonke, lapho izinkampani ezinezilinganiso ze-ROE eziphakeme kakhulu ziheha abatshalizimali abakhulu futhi zithengise amasheya azo ngamanani aphezulu kakhulu . Ngokuphambene nalokho, uma lesi silinganiso sehla, ukuzethemba kwabatshalizimali nakho kuyehla, okubangela ukuthi intengo yesitoko senkampani yehle, futhi abatshalizimali abakhokhele inani elikhulu lamasheya balahlekelwe yimali. Ngakho-ke, kubalulekile ukugcina lesi silinganiso sikhuphuka futhi sisebenzise izinqubomgomo zomsebenzi ezihlelekile nezinobungane kubasebenzi ukuze kukhuliswe umkhiqizo.
I-ROE isetshenziswa kabanzi ukuqhathanisa inzuzo phakathi kwezinkampani ezisemkhakheni ofanayo. Kufanele kuqashelwe ukuthi ukuqhathanisa izinkampani ezivela emikhakheni ehlukene kungaholela emiphumeleni enganembile, njengoba imbuyiselo emalini ihlala ihlukahluka ngesikhathi kanye nesimo kuye ngokuthi zingaphansi komkhakha bani.
Ukuze kwenziwe ukuhlaziywa okuyisisekelo kwenkampani, i-ROE iyipharamitha engenakulibaleka. Ukusebenziseka kwayo kuhilela imikhakha eminingi kanye nochwepheshe. Ukubaluleka kwe -ROE akunakuphikwa namuhla; ukuba khona kwayo kusobala kakhulu ekusaseni eliphumelelayo lezinkampani eziningi zanamuhla ezikhule ngendlela emangalisayo eminyakeni embalwa nje, njenge-Facebook, i-YouTube, ne-Snapchat, phakathi kwezinye.
Uma sibala i-ROE yenkampani ethile , esikukalayo ngempela yikhono lenkampani lokukhiqiza inzuzo kubanikazi bamasheya bayo.
I-Return on equity (ROE) inikeza abanikazi bamasheya ithuluzi lokuhlaziya inzuzo abayitholile ezimalini zabo ezitshaliwe, okubavumela ukuthi banqume ukuthi ukuqhubeka nokutshalwa kwezimali kuwukuhlakanipha yini. Ukuze inkampani ibhekwe njengesebenza kahle, i-ROE yayo kumele idlule inzuzo encane edingwa ngabanikazi bamasheya ukuze kuqinisekiswe ukutshalwa kwezimali ebhizinisini elithile.
Kuyasebenza futhi ukukala ukusebenza kahle komphakathi webhizinisi, okungukuthi, inani lenzuzo eliyinikezayo ngezinsizakusebenza ezitshaliwe. Isibonelo, inkampani ene-ROE yama-30%, ngakho-ke ithola ama-euro amasha angama-30 wenzuzo, kuwo wonke ama-euro ayi-100 atshaliwe.
Isetshenziselwa ukulandela ukuvela kwenkampani futhi, ngaphezu kwalokho, ivumela ukuqhathaniswa kwezibalo futhi ikhombisa ukuthi izinsiza zenkampani zisetshenziswa kanjani. Ukuphakama kwe-ROE, kuzokwandisa ngqo inzuzo inkampani engayinikeza, ngakho-ke, izokhanga kakhulu kunoma yimuphi umtshalizimali.
Ifomula ye-Dupont
UDonaldson Brown, cishe ngo-1912, ubuze umbuzo ongase uzibuze wona njengamanje: Uma i-ROE yenkampani inyuka isuka ku-8% iye ku-12%... kungani lokhu kwenzekile? Ngoba inzuzo ikhuphuke ngo-20% ngenkathi igcina inani eliphelele lingaguquki?
Kungakho uDonaldson azimisele ngokuhlehlisa ifomula ibe ngama-quotients amahlanu ahlukene.
Nazi izingxenye ezinhlanu ze-ROE ngokusho kwefomula yeDupont
- [NI / EBT]: Ubudlelwano obusungulwe phakathi kwenzuzo nenzuzo ngemuva kokungeza intela. Kuhlobene nesici sezimali.
- [EBT / EBIT]: Ubudlelwano phakathi kwenzuzo ngaphambili de intela nenzuzo ngaphambili de izithakazelo. Kuhlobene nomthamo inkampani enayo yesikweletu, kanye nezintshisekelo ezikhokhwa yiyo.
- [EBIT / Sales] Iphethe ukusungula ubudlelwano phakathi Las ukuthengisa futhi i umphumela de Las ukusebenza. Ukusungula amama enzuzo ebhizinisi.
- [Ukuthengisa / Amafa] Ingabe i- inani lezikhathi zokuthengisa ezenze inani eliphelele lezimpahla. Okuhlobene nezinga lomsebenzi womphakathi inkampani enayo. Umqondo onzima ngokwengeziwe, kepha kube ukubuya kwemali eyinhloko, okungukuthi, lokho okutshalile kutholakale ngesikhathi esithile.
- [Izimpahla / Ukulingana]. Ihlobene ngqo ne- inani lezikhathi lelo equity liqukethwe kuzimpahla. Kuhlobene nezinga lokukweleta kanye nokusizakala kwenkampani.
Ukucacisa ngokuqhubekayo, ake sibheke isibonelo sokucabanga. Ake sithi uJuan une- € 200.000. Ngalawo € 200.000 uthenga indawo eyiqashisa ngo- € 20.000 ngemuva kwentela. I-ROE kaJuan bese kuba ngu-10%.
UJuan ube esenquma ukuthatha imali mboleko yezindlu ezimbili ezengeziwe ukuze aqashe ngentengo efanayo. Ngakho-ke uzoboleka u-€400.000, lapho kufanele akhokhe khona inzalo engu-5%. Inzuzo yakhe iyonke izoba ngu-€40.0000 [€60.000 ngenzuzo (€20.000 ngefulethi eliqashiwe) ngaphandle kuka- €20.000 ngenzalo].
IJoe kaJuan isuke ku-10% yaya ku-20%.
Ukuziphatha kwendaba: Kubalulekile ukunaka izikweletu lapho uhlaziya i-ROE.
Singagcina ngokuthi i-ROE
Isebenza njengethuluzi lezezimali kanye nepharamitha yokuqhathanisa kosomabhizinisi nabatshalizimali, umnotho wabo ubonakala enanini le- ROE abanayo. Ngokwandisa leli nani, amathuba enkampani okuvelela emakethe yomhlaba nawo ayakhula, njengoba bezibeka njengenkampani ethembekile, lapho izimali zabatshalizimali zingaba zikhululekile futhi ziphephile, ngaphandle kwengozi encane.
Ingozi ephansi yilokho abatshalizimali abahlale bekubheka, ngakho-ke i-ROE ikhulumela izinkampani, hhayi ukukhangisa noma ukuthengisa, kodwa ukubikezela kwezinkampani esikhathini esizayo, lapho izibikezelo zihamba phambili emnothweni. Uma ungazami ukubikezela okuzokwenzeka emakethe, uzosala ngemuva kwabanye abatshalizimali kanye nezinkampani ezisezingeni eliphezulu.
Futhi iwusizo olukhulu ekukhuthazeni intengo yesitoko senkampani; uma i-ROE yenkampani ikhuphuka, inani lemakethe lamasheya ayo nalo likhuphuka ngokulinganayo.
Akungabazeki ukuthi ingenye yemingcele esebenza kakhulu yokwazi okusetshenziswayo onakho ngokususelwa kutshalo-mali lwakho, kanye nokuqhathanisa izimo zenkampani eyodwa nenye, noma ukwenza isithombe esihle nokuzethemba ukuze uhehe abatshalizimali, Manje njengoba ' ngifunde ukusetshenziswa kwe-ROE, uwasebenzise ngokunenzuzo ukusetha inkambo yebhizinisi lakho noma ilungelo lokutshala imali.