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Profitability & returns

Return on Equity ROE

How much profit a company generates for each dollar of shareholders' equity, shown as a percentage.

Part of the Profitability & Quality course · Lesson 7 of 19
Formula
Net Income / Shareholders' Equity

What it is

Return on equity measures the profit a company earns relative to the money shareholders have invested in it, including retained earnings. It answers how efficiently management turns shareholder capital into net income. A consistently high ROE often signals a strong, well-run business, though the figure must be read with care.

Why it matters

ROE is a core gauge of how well a company compounds shareholder money, and it links profitability, asset use, and leverage. The key pitfall is that debt inflates ROE: a company can boost ROE simply by borrowing more, so a high ROE paired with high leverage is less impressive than one earned with little debt. Share buybacks also shrink equity and lift ROE, so it pays to check what is driving the number.

How it's calculated

Divide net income by shareholders' equity (often the average of beginning and ending equity for the period), expressed as a percentage.

How Quintarthai uses it

ROE is shown in the Summary Key-metrics grid and in the profitability ratios on a company's deep-analysis page, and is a filterable metric in the Stock Screener.

Cross-border note. Equity values follow IFRS for Canadian issuers and US GAAP for US issuers, which can differ on items like revaluations and goodwill, so a very high ROE near a small equity base deserves a look at the underlying balance sheet.

FAQ

What counts as a strong ROE?
Many investors view sustained ROE above roughly 15% as strong, but the right benchmark varies by industry and depends on how much debt was used to achieve it.
Why can ROE be misleading?
ROE rises when a company takes on debt or buys back shares because equity shrinks, so a high ROE does not always mean better operations. Compare it with ROA and ROIC to see whether leverage is doing the work.
Related terms
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