If EPS Growth Is Important To You, Loews (NYSE:L) Presents An Opportunity
If EPS Growth Is Important To You, Loews (NYSE:L) Presents An Opportunity
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story even if these companies are loss-making. Sometimes these stories can cloud the minds of investors, leading them to invest with their emotions rather than on the merit of good company fundamentals. A loss-making company is yet to prove itself with profit, and eventually the inflow of external capital may dry up.
對於很多投資者,尤其是那些缺乏經驗的人來說,購買一些有好故事的公司的股票是很常見的,即使這些公司是虧損的。有時這些故事可以讓投資者有所動搖,導致他們憑感情而非公司的好基本面進行投資。虧損的公司還未能證明自己具備盈利能力,外部資本流入可能最終會枯竭。
So if this idea of high risk and high reward doesn't suit, you might be more interested in profitable, growing companies, like Loews (NYSE:L). Even if this company is fairly valued by the market, investors would agree that generating consistent profits will continue to provide Loews with the means to add long-term value to shareholders.
所以,如果高風險高回報的想法不適合您,您可能更感興趣盈利穩健、增長穩定的公司,例如洛斯公司(NYSE:L)。即使該公司被市場合理估值,投資者們也會認同,持續盈利將繼續爲洛斯公司股東增加長期價值。
Loews' Earnings Per Share Are Growing
洛斯公司的每股收益正在增長
If a company can keep growing earnings per share (EPS) long enough, its share price should eventually follow. Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS. We can see that in the last three years Loews grew its EPS by 7.4% per year. That might not be particularly high growth, but it does show that per-share earnings are moving steadily in the right direction.
如果一家公司能夠持續增長每股收益(EPS)足夠長的時間,其股價最終應該會跟隨。因此,有很多投資者喜歡買入那些EPS增長的公司股票。我們可以看到,在過去三年中,洛斯公司的EPS每年增長了7.4%。這可能不是特別高的增長率,但它確實表明每股收益在穩步向正確方向發展。
One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. Not all of Loews' revenue this year is revenue from operations, so keep in mind the revenue and margin numbers used in this article might not be the best representation of the underlying business. EBIT margins for Loews remained fairly unchanged over the last year, however the company should be pleased to report its revenue growth for the period of 12% to US$17b. That's encouraging news for the company!
檢查一家公司增長的一種方法是查看其營業收入和利息、稅項前利潤(EBIT)利潤率的變化。洛斯公司今年的收入並非全部來自營運收入,請記住本文中使用的收入和利潤率數據可能不是對該公司業務情況的最佳表現。洛斯公司的EBIT利潤率在過去一年基本保持不變,然而該公司應該很高興地報告其營業額增長達到12%,達到170億美元。這對公司來說是令人鼓舞的消息!
The chart below shows how the company's bottom and top lines have progressed over time. For finer detail, click on the image.
下圖顯示了該公司底線和頂線隨着時間的推移而發展的情況。點擊圖片以獲取更精細的詳細信息。
While profitability drives the upside, prudent investors always check the balance sheet, too.
儘管利潤帶來上行動能,但審慎投資者也應檢查資產負債表。
Are Loews Insiders Aligned With All Shareholders?
洛斯公司內部人員是否與所有股東保持一致?
Since Loews has a market capitalisation of US$17b, we wouldn't expect insiders to hold a large percentage of shares. But we are reassured by the fact they have invested in the company. Notably, they have an enviable stake in the company, worth US$1.9b. Investors will appreciate management having this amount of skin in the game as it shows their commitment to the company's future.
由於洛斯公司的市值爲170億美元,我們不會期望內部人員持有大比例股份。 但他們對公司的投資讓我們感到放心。 值得注意的是,他們在公司中擁有令人羨慕的股份,價值19億美元。 投資者將欣賞管理層擁有這麼大比例的股份,因爲這表明他們對公司未來的承諾。
While it's always good to see some strong conviction in the company from insiders through heavy investment, it's also important for shareholders to ask if management compensation policies are reasonable. Our quick analysis into CEO remuneration would seem to indicate they are. The median total compensation for CEOs of companies similar in size to Loews, with market caps over US$8.0b, is around US$13m.
雖然看到內部人員通過大量投資對公司有強烈信心總是件好事,但股東也需要問一下管理層的薪酬政策是否合理。 我們快速分析首席執行官薪酬似乎表明是合理的。 與洛斯公司相似規模、市值在80億美元以上的公司的首席執行官的中位總薪酬大約爲1300萬美元。
Loews offered total compensation worth US$6.9m to its CEO in the year to December 2023. That seems pretty reasonable, especially given it's below the median for similar sized companies. CEO compensation is hardly the most important aspect of a company to consider, but when it's reasonable, that gives a little more confidence that leadership are looking out for shareholder interests. It can also be a sign of a culture of integrity, in a broader sense.
洛斯公司在截至2023年12月的一年中向首席執行官提供了總共690萬美元的薪酬。 這看起來相當合理,尤其考慮到它低於類似規模公司的中位數。 首席執行官薪酬並非考慮公司最重要的方面,但當薪酬合理時,這更讓人相信領導層在關注股東利益。 這也可能是誠信文化的一個標誌,從更廣義上來說。
Is Loews Worth Keeping An Eye On?
洛斯公司值得關注嗎?
As previously touched on, Loews is a growing business, which is encouraging. The growth of EPS may be the eye-catching headline for Loews, but there's more to bring joy for shareholders. Boasting both modest CEO pay and considerable insider ownership, you'd argue this one is worthy of the watchlist, at least. Before you take the next step you should know about the 1 warning sign for Loews that we have uncovered.
正如前面提到的,洛斯公司是一家增長中的企業,這是令人鼓舞的。 每股收益的增長可能是洛斯公司引人注目的頭條新聞,但對股東來說,還有更多令人振奮的消息。 既擁有適度的首席執行官薪酬,又具有相當大的內部股東所有權,你可以認爲這家公司至少值得加入自選名單。 在你邁出下一步之前,你應該知道我們發現的洛斯公司的一個警示信號。
While opting for stocks without growing earnings and absent insider buying can yield results, for investors valuing these key metrics, here is a carefully selected list of companies in the US with promising growth potential and insider confidence.
儘管不增長收益且沒有內部人士購買的股票可能會有回報,但對於重視這些關鍵指標的投資者來說,以下是在美國具有潛在增長和內部人士信心的經過慎重篩選的公司列表。
Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.
請注意,本文討論的內部交易是指在相關司法管轄區中報告的交易。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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。
譯文內容由第三人軟體翻譯。