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We Think That There Are Issues Underlying VSE's (NASDAQ:VSEC) Earnings

We Think That There Are Issues Underlying VSE's (NASDAQ:VSEC) Earnings

我们认为VSE(纳斯达克股票代码:VSEC)的收益存在问题
Simply Wall St ·  05/21 20:18

Despite announcing strong earnings, VSE Corporation's (NASDAQ:VSEC) stock was sluggish. We think that the market might be paying attention to some underlying factors that they find to be concerning.

尽管宣布了强劲的收益,但VSEC(纳斯达克股票代码:VSEC)的股票表现疲软。我们认为,市场可能会关注一些他们认为令人担忧的潜在因素。

earnings-and-revenue-history
NasdaqGS:VSEC Earnings and Revenue History May 21st 2024
NASDAQGS: vSEC 收益和收入历史记录 2024 年 5 月 21 日

To understand the value of a company's earnings growth, it is imperative to consider any dilution of shareholders' interests. In fact, VSE increased the number of shares on issue by 43% over the last twelve months by issuing new shares. Therefore, each share now receives a smaller portion of profit. Per share metrics like EPS help us understand how much actual shareholders are benefitting from the company's profits, while the net income level gives us a better view of the company's absolute size. You can see a chart of VSE's EPS by clicking here.

要了解公司收益增长的价值,必须考虑削弱股东的利益。实际上,通过发行新股,VSE在过去十二个月中将已发行股票数量增加了43%。因此,每股现在获得的利润比例较小。每股收益等每股指标可以帮助我们了解实际股东从公司的利润中受益的程度,而净收入水平则使我们能够更好地了解公司的绝对规模。您可以点击此处查看VSE的每股收益图表。

A Look At The Impact Of VSE's Dilution On Its Earnings Per Share (EPS)

看看VSE的稀释对其每股收益(EPS)的影响

VSE was losing money three years ago. On the bright side, in the last twelve months it grew profit by 65%. But EPS was less impressive, up only 43% in that time. Therefore, one can observe that the dilution is having a fairly profound effect on shareholder returns.

三年前,VSE亏损了。好的一面是,在过去的十二个月中,它的利润增长了65%。但是每股收益不那么令人印象深刻,当时仅增长了43%。因此,可以观察到,稀释对股东回报产生了相当深远的影响。

In the long term, earnings per share growth should beget share price growth. So VSE shareholders will want to see that EPS figure continue to increase. However, if its profit increases while its earnings per share stay flat (or even fall) then shareholders might not see much benefit. For the ordinary retail shareholder, EPS is a great measure to check your hypothetical "share" of the company's profit.

从长远来看,收益 每股 增长应该带来股价的增长。因此,VSE股东希望看到每股收益继续增加。但是,如果其利润增加而每股收益保持不变(甚至下降),那么股东可能看不到太多好处。对于普通零售股东来说,每股收益是检查您假设的公司利润 “份额” 的好方法。

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.

这可能会让你想知道分析师对未来盈利能力的预测。幸运的是,您可以单击此处查看根据他们的估计描绘未来盈利能力的交互式图表。

Our Take On VSE's Profit Performance

我们对VSE利润表现的看法

VSE shareholders should keep in mind how many new shares it is issuing, because, dilution clearly has the power to severely impact shareholder returns. For this reason, we think that VSE's statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. The good news is that, its earnings per share increased by 43% in the last year. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. So while earnings quality is important, it's equally important to consider the risks facing VSE at this point in time. When we did our research, we found 2 warning signs for VSE (1 shouldn't be ignored!) that we believe deserve your full attention.

VSE的股东应该记住它正在发行多少新股,因为稀释显然会严重影响股东的回报。出于这个原因,我们认为VSE的法定利润可能不利于其潜在盈利能力,并可能给投资者留下过于积极的公司印象。好消息是,其每股收益在去年增长了43%。当然,我们只是在分析其收益时才浮出水面;人们还可以考虑利润率、预测增长和投资回报率等因素。因此,尽管收益质量很重要,但考虑VSE目前面临的风险同样重要。当我们进行研究时,我们发现了 2 个 VSE 的警告信号(1 个不容忽视!)我们认为值得你全神贯注。

This note has only looked at a single factor that sheds light on the nature of VSE's 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.

本报告仅研究了揭示VSE利润性质的单一因素。但是,如果你能够将注意力集中在细节上,总会有更多的事情需要发现。例如,许多人认为高股本回报率是有利的商业经济的标志,而另一些人则喜欢 “关注资金”,寻找内部人士正在买入的股票。虽然可能需要你进行一些研究,但你可能会发现这份免费收集的拥有高股本回报率的公司,或者这份拥有大量内幕持股的股票清单很有用。

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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.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

译文内容由第三方软件翻译。


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