Is Now The Time To Put Copart (NASDAQ:CPRT) On Your Watchlist?
Is Now The Time To Put Copart (NASDAQ:CPRT) On Your Watchlist?
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks' without any revenue, let alone profit. Unfortunately, these high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson. Loss making companies can act like a sponge for capital - so investors should be cautious that they're not throwing good money after bad.
投資者通常受"發現下一個大事件"的理念指導,即便這意味着購買沒有營業收入、更不用說利潤的"故事股票"。不幸的是,這些高風險投資往往幾乎沒有回報的可能,許多投資者爲此付出了代價來吸取教訓。虧損的公司就像資本的海綿——因此,投資者應該謹慎,避免將好錢投在壞投資上。
In contrast to all that, many investors prefer to focus on companies like Copart (NASDAQ:CPRT), which has not only revenues, but also profits. Now this is not to say that the company presents the best investment opportunity around, but profitability is a key component to success in business.
與所有板塊相比,許多投資者更願意關注像科帕特(納斯達克:CPRT)這樣的公司,它不僅有營業收入,還有利潤。不過,這並不是說該公司提供了最佳的投資機會,但盈利能力是業務成功的關鍵因素。
How Fast Is Copart Growing?
科帕特的增長速度有多快?
If you believe that markets are even vaguely efficient, then over the long term you'd expect a company's share price to follow its earnings per share (EPS) outcomes. So it makes sense that experienced investors pay close attention to company EPS when undertaking investment research. We can see that in the last three years Copart grew its EPS by 11% per year. That's a pretty good rate, if the company can sustain it.
如果你相信市場即使只是模糊地有效,那麼從長遠來看,你會期望一家公司股票的每股價格會跟隨其每股收益(EPS)變化。因此,經驗豐富的投資者在進行投資研究時,會密切關注公司的EPS。我們可以看到在過去三年中,科帕特每年的EPS增長了11%。如果公司能夠持續這個增長率,那是相當不錯的。
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. While Copart did well to grow revenue over the last year, EBIT margins were dampened at the same time. If EBIT margins are able to stay balanced and this revenue growth continues, then we should see brighter days ahead.
檢查一家公司增長的一個方法是查看其營業收入和息稅前利潤(EBIT)利潤率的變化。雖然科帕特在過去一年中營業收入增長表現良好,但EBIT利潤率同時受到抑制。如果EBIT利潤率能夠保持平衡,並且這種營業收入增長持續下去,那麼我們應該會看到光明的未來。
The chart below shows how the company's bottom and top lines have progressed over time. For finer detail, click on the image.
下面的圖表顯示了公司下線和上線的進展情況。要查看更詳細的信息,請單擊圖像。
Fortunately, we've got access to analyst forecasts of Copart's future profits. You can do your own forecasts without looking, or you can take a peek at what the professionals are predicting.
很幸運,我們可以訪問分析師對科帕特未來盈利的預測。你可以自己進行預測,或者看看專業人士的預測。
Are Copart Insiders Aligned With All Shareholders?
科帕特內部人士是否與所有股東的利益一致?
Since Copart has a market capitalisation of US$56b, 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. Indeed, they have a considerable amount of wealth invested in it, currently valued at US$4.6b. Investors will appreciate management having this amount of skin in the game as it shows their commitment to the company's future.
由於科帕特的市值爲560億美元,我們不期望內部人士持有大量股份。但令人欣慰的是,他們在公司進行了投資。實際上,他們在公司投入了可觀的財富,當前估值爲46億美元。投資者會欣賞管理層在這方面的投入,因爲這顯示了他們對公司未來的承諾。
It's good to see that insiders are invested in the company, but are remuneration levels reasonable? Well, based on the CEO pay, you'd argue that they are indeed. Our analysis has discovered that the median total compensation for the CEOs of companies like Copart, with market caps over US$8.0b, is about US$13m.
很高興看到內部人士在公司中投資,但薪酬水平是否合理?根據CEO的薪酬,你可以說它們確實合理。我們的分析發現,對於市值超過80億美元的公司,像科帕特這樣的CEO的中位數總薪酬約爲1300萬美元。
Copart's CEO took home a total compensation package of US$2.1m in the year prior to July 2024. That looks like a modest pay packet, and may hint at a certain respect for the interests of shareholders. CEO remuneration levels are not the most important metric for investors, but when the pay is modest, that does support enhanced alignment between the CEO and the ordinary shareholders. It can also be a sign of good governance, more generally.
科帕特的CEO在2024年7月之前的年份中獲得的總薪酬包爲210萬美元。這看起來是一個適度的薪水,可能暗示對股東利益的某種尊重。CEO的薪酬水平並不是投資者最重要的指標,但當薪酬適中時,這確實支持了CEO與普通股東之間的良好一致性。這也通常可以是良好治理的一個標誌。
Should You Add Copart To Your Watchlist?
你應該把科帕特加入自選嗎?
One important encouraging feature of Copart is that it is growing profits. The growth of EPS may be the eye-catching headline for Copart, but there's more to bring joy for shareholders. With a meaningful level of insider ownership, and reasonable CEO pay, a reasonable mind might conclude that this is one stock worth watching. However, before you get too excited we've discovered 1 warning sign for Copart that you should be aware of.
科帕特的一個重要鼓舞人心的特點是它的利潤在增長。每股收益的增長可能是科帕特引人注目的頭條,但還有更多的喜悅帶給股東。憑藉有意義的內部持股水平和合理的CEO薪酬,合理的人可能會得出結論,認爲這是值得關注的股票。然而,在你過於興奮之前,我們發現了科帕特應該注意的一個警告信號。
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.
雖然選擇沒有增長收益且缺乏內部人士買入的股票可能會產生結果,但對於重視這些關鍵指標的投資者來說,這裏有一份精心挑選的美國公司名單,具有良好的增長潛力和內部人士信心。
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管轄區內可報告的交易。
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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.
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。
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