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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

我們認爲VSE(納斯達克股票代碼:VSEC)的收益存在問題
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.

儘管宣佈了強勁的收益,但VSEC(納斯達克股票代碼:VSEC)的股票表現疲軟。我們認爲,市場可能會關注一些他們認爲令人擔憂的潛在因素。

earnings-and-revenue-history
NasdaqGS:VSEC Earnings and Revenue History May 21st 2024
NASDAQGS: vSEC 收益和收入歷史記錄 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.

要了解公司收益增長的價值,必須考慮削弱股東的利益。實際上,通過發行新股,VSE在過去十二個月中將已發行股票數量增加了43%。因此,每股現在獲得的利潤比例較小。每股收益等每股指標可以幫助我們了解實際股東從公司的利潤中受益的程度,而淨收入水平則使我們能夠更好地了解公司的絕對規模。您可以點擊此處查看VSE的每股收益圖表。

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

看看VSE的稀釋對其每股收益(EPS)的影響

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虧損了。好的一面是,在過去的十二個月中,它的利潤增長了65%。但是每股收益不那麼令人印象深刻,當時僅增長了43%。因此,可以觀察到,稀釋對股東回報產生了相當深遠的影響。

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.

從長遠來看,收益 每股 增長應該帶來股價的增長。因此,VSE股東希望看到每股收益繼續增加。但是,如果其利潤增加而每股收益保持不變(甚至下降),那麼股東可能看不到太多好處。對於普通零售股東來說,每股收益是檢查您假設的公司利潤 “份額” 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.

這可能會讓你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根據他們的估計描繪未來盈利能力的交互式圖表。

Our Take On VSE's Profit Performance

我們對VSE利潤表現的看法

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的股東應該記住它正在發行多少新股,因爲稀釋顯然會嚴重影響股東的回報。出於這個原因,我們認爲VSE的法定利潤可能不利於其潛在盈利能力,並可能給投資者留下過於積極的公司印象。好消息是,其每股收益在去年增長了43%。當然,我們只是在分析其收益時才浮出水面;人們還可以考慮利潤率、預測增長和投資回報率等因素。因此,儘管收益質量很重要,但考慮VSE目前面臨的風險同樣重要。當我們進行研究時,我們發現了 2 個 VSE 的警告信號(1 個不容忽視!)我們認爲值得你全神貫注。

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.

本報告僅研究了揭示VSE利潤性質的單一因素。但是,如果你能夠將注意力集中在細節上,總會有更多的事情需要發現。例如,許多人認爲高股本回報率是有利的商業經濟的標誌,而另一些人則喜歡 “關注資金”,尋找內部人士正在買入的股票。雖然可能需要你進行一些研究,但你可能會發現這份免費收集的擁有高股本回報率的公司,或者這份擁有大量內幕持股的股票清單很有用。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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