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It Might Not Be A Great Idea To Buy Fastenal Company (NASDAQ:FAST) For Its Next Dividend

It Might Not Be A Great Idea To Buy Fastenal Company (NASDAQ:FAST) For Its Next Dividend

可能不是一個好主意去買入快扣公司(納斯達克:FAST)下一次的股息。
Simply Wall St ·  01/26 13:51

It looks like Fastenal Company (NASDAQ:FAST) is about to go ex-dividend in the next four days. The ex-dividend date is usually set to be one business day before the record date which is the cut-off date on which you must be present on the company's books as a shareholder in order to receive the dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. Accordingly, Fastenal investors that purchase the stock on or after the 31st of January will not receive the dividend, which will be paid on the 28th of February.

看起來快扣公司(納斯達克:FAST)將在接下來的四天內除息。除息日期通常設定爲記錄日期的前一個工作日,而記錄日期是您必須在公司名冊上作爲股東的截止日期,以便接收分紅派息。除息日期至關重要,因爲無論何時買入或賣出股票,交易至少需要兩個工作日才能結算。因此,快扣的投資者如果在1月31日或之後購買該股票,將無法收到將在2月28日支付的分紅派息。

The company's upcoming dividend is US$0.43 a share, following on from the last 12 months, when the company distributed a total of US$1.56 per share to shareholders. Last year's total dividend payments show that Fastenal has a trailing yield of 2.1% on the current share price of US$75.53. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. As a result, readers should always check whether Fastenal has been able to grow its dividends, or if the dividend might be cut.

該公司即將支付的分紅派息爲每股0.43美元,這來自於過去12個月,該公司總共向股東分派了每股1.56美元的分紅派息。去年的總分紅派息顯示快扣當前股價75.53美元的年化收益率爲2.1%。分紅派息對於許多股東來說是重要的收入來源,但業務的健康狀況對於維持這些分紅派息至關重要。因此,讀者們應該始終檢查快扣是否能夠增加其分紅派息,或者分紅派息是否可能被削減。

Dividends are typically paid from company earnings. If a company pays more in dividends than it earned in profit, then the dividend could be unsustainable. It paid out 78% of its earnings as dividends last year, which is not unreasonable, but limits reinvestment in the business and leaves the dividend vulnerable to a business downturn. We'd be worried about the risk of a drop in earnings. A useful secondary check can be to evaluate whether Fastenal generated enough free cash flow to afford its dividend. The company paid out 94% of its free cash flow over the last year, which we think is outside the ideal range for most businesses. Companies usually need cash more than they need earnings - expenses don't pay themselves - so it's not great to see it paying out so much of its cash flow.

分紅派息通常來自公司的盈利。如果一家公司支付的分紅派息超過其盈利,那麼分紅派息可能無法持續。去年,它分派了78%的盈利作爲分紅派息,這並不算過分,但限制了對業務的再投資,並使分紅派息面臨業務下滑的風險。我們會擔心盈利下降的風險。一個有用的輔助檢查是評估快扣是否產生了足夠的自由現金流以支持其分紅派息。該公司過去一年支出了94%的自由現金流,我們認爲這超出了大多數企業的理想區間。公司通常更需要現金而不是盈利——開支無法自我支付——因此看到它支付那麼多現金流並不理想。

While Fastenal's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. Cash is king, as they say, and were Fastenal to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign.

雖然快扣的分紅派息由公司的報告利潤覆蓋,但現金顯得更加重要,因此看到公司沒有產生足夠的現金來支付其分紅派息並不是好事。正如人們所說,現金爲王,如果快扣重複支付未能得到現金流良好支持的分紅派息,我們會將其視爲警告信號。

Click here to see the company's payout ratio, plus analyst estimates of its future dividends.

點擊此處查看公司的分紅支付比率,以及分析師對其未來分紅的估計。

big
NasdaqGS:FAST Historic Dividend January 26th 2025
納斯達克GS:快扣歷史分紅2025年1月26日

Have Earnings And Dividends Been Growing?

收益和股息一直在增長嗎?

Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. This is why it's a relief to see Fastenal earnings per share are up 7.8% per annum over the last five years. Earnings have been growing at a steady rate, but we're concerned dividend payments consumed most of the company's cash flow over the past year.

通常,具有強勁增長前景的企業是最佳分紅支付者,因爲當每股收益改善時,提升分紅變得更容易。如果收益下降,公司被迫削減分紅,投資者可能會看到投資價值化爲烏有。這就是爲什麼看到快扣每股收益在過去五年中每年增長7.8%讓人感到寬慰的原因。收益以穩定的速度增長,但我們擔心過去一年分紅支付消耗了大部分公司的現金流。

The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Fastenal has delivered an average of 12% per year annual increase in its dividend, based on the past 10 years of dividend payments. It's encouraging to see the company lifting dividends while earnings are growing, suggesting at least some corporate interest in rewarding shareholders.

大多數投資者評估一家公司分紅前景的主要方式是查看歷史分紅增長率。基於過去10年的分紅支付,快扣的分紅每年平均增長12%。看到公司在收益增長的同時提升分紅令人鼓舞,這表明至少有一些公司關注回報股東。

The Bottom Line

總結

Has Fastenal got what it takes to maintain its dividend payments? Fastenal is paying out a reasonable percentage of its income and an uncomfortably high 94% of its cash flow as dividends. At least earnings per share have been growing steadily. It's not the most attractive proposition from a dividend perspective, and we'd probably give this one a miss for now.

快扣是否具備維持其分紅支付的能力?快扣支付了合理的收入比例,並且以不舒服的高達94%的自由現金流作爲分紅。至少每股收益正在穩步增長。 從分紅的角度來看,這並不是最具吸引力的提議,我們可能會暫時放棄這個。

With that being said, if you're still considering Fastenal as an investment, you'll find it beneficial to know what risks this stock is facing. In terms of investment risks, we've identified 1 warning sign with Fastenal and understanding them should be part of your investment process.

話雖如此,如果你仍然考慮將快扣作爲投資,你會發現了解該股票面臨的風險是有益的。 在投資風險方面,我們已經識別出快扣的1個警告信號,理解它們應該成爲你投資過程的一部分。

A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks.

一個常見的投資錯誤是買入你看到的第一個有趣的股票。在這裏,你可以找到高收益分紅派息股票的完整列表。

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.

對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。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在提到的任何股票中均沒有持倉。

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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