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The Strong Earnings Posted By ACADIA Pharmaceuticals (NASDAQ:ACAD) Are A Good Indication Of The Strength Of The Business

The Strong Earnings Posted By ACADIA Pharmaceuticals (NASDAQ:ACAD) Are A Good Indication Of The Strength Of The Business

阿卡迪亞(納斯達克:ACAD)發佈的強勁收益顯示了業務的實力。
Simply Wall St ·  11/14 19:08

When companies post strong earnings, the stock generally performs well, just like ACADIA Pharmaceuticals Inc.'s (NASDAQ:ACAD) stock has recently. We did some digging and found some further encouraging factors that investors will like.

當公司發佈強勁的收益時,股票通常表現良好,就像阿卡迪亞製藥公司(納斯達克:ACAD)的股票最近一樣。我們做了一些調查,發現了一些投資者會喜歡的進一步令人鼓舞的因素。

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NasdaqGS:ACAD Earnings and Revenue History November 14th 2024
納斯達克GS:ACAD 收益和營業收入歷史 2024年11月14日

Examining Cashflow Against ACADIA Pharmaceuticals' Earnings

檢查現金流與阿卡迪亞製藥公司的收益

Many investors haven't heard of the accrual ratio from cashflow, but it is actually a useful measure of how well a company's profit is backed up by free cash flow (FCF) during a given period. The accrual ratio subtracts the FCF from the profit for a given period, and divides the result by the average operating assets of the company over that time. You could think of the accrual ratio from cashflow as the 'non-FCF profit ratio'.

許多投資者沒有聽說過來自現金流的計提比率,但實際上它是衡量公司利潤在給定期間內如何得到自由現金流(FCF)支持的有用指標。該計提比率從給定期間的FCF中減去利潤,然後將結果除以該時期公司的平均運營資產。您可將來自現金流的計提比率視爲「非FCF利潤比率」。

Therefore, it's actually considered a good thing when a company has a negative accrual ratio, but a bad thing if its accrual ratio is positive. That is not intended to imply we should worry about a positive accrual ratio, but it's worth noting where the accrual ratio is rather high. Notably, there is some academic evidence that suggests that a high accrual ratio is a bad sign for near-term profits, generally speaking.

因此,一家公司有負應計比率實際上是一件好事,但是如果它的應計比率爲正,那是一件壞事。這並不意味着我們應該擔心應計比率爲正,但值得注意的是,如果應計比率相當高,有一些學術證據表明,這是一個不利於近期利潤的壞跡象。

ACADIA Pharmaceuticals has an accrual ratio of -5.28 for the year to September 2024. That indicates that its free cash flow quite significantly exceeded its statutory profit. To wit, it produced free cash flow of US$203m during the period, dwarfing its reported profit of US$128.5m. Notably, ACADIA Pharmaceuticals had negative free cash flow last year, so the US$203m it produced this year was a welcome improvement.

阿卡迪亞製藥公司在截至2024年9月的年度的應計比例爲-5.28。這表明其自由現金流大大超過了法定利潤。具體來說,它在該期間產生了20300萬美元的自由現金流,遠超其報告的12850萬美元的利潤。值得注意的是,阿卡迪亞製藥公司去年自由現金流爲負,因此它今年產生的20300萬美元是一個令人歡迎的改善。

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 ACADIA Pharmaceuticals' Profit Performance

我們對阿卡迪亞製藥的利潤表現進行了分析。雖然其利潤受到非常規項目的提振,這意味着利潤可能不會持續,但其應計比率仍表明其具有可靠的現金轉化能力,這是很有前途的。基於這些因素,我們認爲阿卡迪亞製藥的利潤是其真實盈利能力的合理指南。雖然考慮公司的法定利潤如何代表其真實盈利能力非常重要,但也值得看看分析師對未來的預測。因此,可以查看我們呈現的分析師預測圖表。

Happily for shareholders, ACADIA Pharmaceuticals produced plenty of free cash flow to back up its statutory profit numbers. Based on this observation, we consider it possible that ACADIA Pharmaceuticals' statutory profit actually understates its earnings potential! And one can definitely find a positive in the fact that it made a profit this year, despite losing money last year. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. Obviously, we love to consider the historical data to inform our opinion of a company. But it can be really valuable to consider what other analysts are forecasting. So feel free to check out our free graph representing analyst forecasts.

Happily for shareholders, ACADIA Pharmaceuticals produced plenty of free cash flow to back up its statutory profit numbers. Based on this observation, we consider it possible that ACADIA Pharmaceuticals' statutory profit actually understates its earnings potential! And one can definitely find a positive in the fact that it made a profit this year, despite losing money last year. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. Obviously, we love to consider the historical data to inform our opinion of a company. But it can be really valuable to consider what other analysts are forecasting. So feel free to check out our free graph representing analyst forecasts.

Today we've zoomed in on a single data point to better understand the nature of ACADIA Pharmaceuticals' profit. But there are plenty of other ways to inform your opinion of a company. 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.

Today we've zoomed in on a single data point to better understand the nature of ACADIA Pharmaceuticals' profit. But there are plenty of other ways to inform your opinion of a company. 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.

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.

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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。

譯文內容由第三人軟體翻譯。


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