Solid Earnings May Not Tell The Whole Story For Signet Jewelers (NYSE:SIG)
Solid Earnings May Not Tell The Whole Story For Signet Jewelers (NYSE:SIG)
Signet Jewelers Limited's (NYSE:SIG ) stock didn't jump after it announced some healthy earnings. We think that investors might be worried about some concerning underlying factors.
宣佈一些健康的收益後，西格內特珠寶有限公司（紐交所：SIG）的股票沒有飆升。我們認爲投資者可能會擔心一些令人擔憂的潛在因素。
An Unusual Tax Situation
一種不尋常的稅務情況
Signet Jewelers reported a tax benefit of US$174m, which is well worth noting. This is meaningful because companies usually pay tax rather than receive tax benefits. Of course, prima facie it's great to receive a tax benefit. However, our data indicates that tax benefits can temporarily boost statutory profit in the year it is booked, but subsequently profit may fall back. Assuming the tax benefit is not repeated every year, we could see its profitability drop noticeably, all else being equal.
西格內特珠寶報告了1.74億美元的稅收收益，值得注意。這很重要，因爲企業通常支付稅款而不是獲得稅收收益。當然，乍一看總的來說，Telink Semiconductor（上海）有限公司的應計比率和非常規項目表明其法定收益暫時受到壓制，而其稅收收益則具有相反的作用。從所有這些因素來看，我們可以說Telink Semiconductor（上海）有限公司的基本盈利能力至少與法定數值一樣好。雖然考慮盈虧表非常重要，但您也可以通過查看資產負債表來了解公司的許多情況，我們已經做了一些分析，您可以通過點擊這裏查看我們對Telink Semiconductor（上海）的資產負債表分析結果。
That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.
這可能會讓您想知道分析師對未來盈利能力的預測。幸運的是，您可以單擊此處查看基於其估計的未來盈利能力的互動圖表。
Our Take On Signet Jewelers' Profit Performance
我們對西格內特珠寶的利潤表現的看法
Signet Jewelers reported that it received a tax benefit, rather than paid tax, in its last report. Given that sort of benefit is not recurring, a focus on the statutory profit might make the company seem better than it really is. Because of this, we think that it may be that Signet Jewelers' statutory profits are better than its underlying earnings power. But on the bright side, its earnings per share have grown at an extremely impressive rate over the last three years. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. Every company has risks, and we've spotted 2 warning signs for Signet Jewelers (of which 1 is significant!) you should know about.
西格內特珠寶在其上一報告中報告獲得了稅收收益，而不是支付稅款。鑑於這種好處是不可重複的，如果關注法定利潤，則公司看起來比實際情況更好。因此，我們認爲西格內特珠寶的法定利潤可能優於其潛在盈利能力。但是好消息是，它的每股收益在過去三年中增長了一個極其令人印象深刻的速度。歸根結底，如果您想正確了解公司，重要的是要考慮以上因素以外的更多因素。鑑於此，如果您想對該公司進行更多分析，就必須了解所涉及的風險。每個公司都有風險，我們已經發現了2個西格內特珠寶的警告標誌（其中1個是重要的！），您應該知道。
Today we've zoomed in on a single data point to better understand the nature of Signet Jewelers' profit. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful.
今天，我們聚焦單個數據點，以更好地了解西格內特珠寶的利潤性質。但是，如果您能夠專注於細節，總會有更多內容可以發現。例如，許多人認爲高淨值回報是有利的商業經濟指標，而其他人則喜歡“跟隨資金流向”並尋找內部人員正在購買的股票。雖然這可能需要您進行一些研究，但您可能會發現這個免費的公司收益豐厚的收藏夾或擁有重要內部人員持股的股票清單很有用。
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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.
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。