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Hunan Aerospace Huanyu Communication TechnologyLTD's (SHSE:688523) Problems Go Beyond Weak Profit

Hunan Aerospace Huanyu Communication TechnologyLTD's (SHSE:688523) Problems Go Beyond Weak Profit

湖南航天环宇通信技术有限公司(SHSE: 688523)的问题不仅限于利润疲软
Simply Wall St ·  05/06 02:54

Hunan Aerospace Huanyu Communication Technology Co.,LTD.'s (SHSE:688523) recent weak earnings report didn't cause a big stock movement. However, we believe that investors should be aware of some underlying factors which may be of concern.

湖南航天环宇通信技术有限公司,有限公司。's(上海证券交易所代码:688523)最近疲软的收益报告并未导致股市大幅波动。但是,我们认为,投资者应注意一些可能令人担忧的潜在因素。

earnings-and-revenue-history
SHSE:688523 Earnings and Revenue History May 6th 2024
SHSE: 688523 收益和收入历史记录 2024 年 5 月 6 日

Zooming In On Hunan Aerospace Huanyu Communication TechnologyLTD's Earnings

放大湖南航天环宇通信科技有限公司的收益

One key financial ratio used to measure how well a company converts its profit to free cash flow (FCF) is the accrual ratio. To get the accrual ratio we first subtract FCF from profit for a period, and then divide that number by the average operating assets for the period. The ratio shows us how much a company's profit exceeds its FCF.

用于衡量公司将其利润转化为自由现金流(FCF)的效果的一个关键财务比率是应计比率。为了获得应计比率,我们首先从一段时间内的利润中减去FCF,然后将该数字除以该期间的平均运营资产。该比率向我们显示了公司的利润超过其FCF的程度。

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. That's because some academic studies have suggested that high accruals ratios tend to lead to lower profit or less profit growth.

因此,当公司的应计比率为负时,这实际上被认为是一件好事,但是如果应计比率为正,则被认为是一件坏事。这并不意味着我们应该担心应计比率为正,但值得注意的是,应计比率相当高的地方。那是因为一些学术研究表明,高应计比率往往会导致利润下降或利润增长放缓。

Hunan Aerospace Huanyu Communication TechnologyLTD has an accrual ratio of 0.28 for the year to March 2024. Therefore, we know that it's free cashflow was significantly lower than its statutory profit, raising questions about how useful that profit figure really is. In the last twelve months it actually had negative free cash flow, with an outflow of CN¥171m despite its profit of CN¥132.9m, mentioned above. Coming off the back of negative free cash flow last year, we imagine some shareholders might wonder if its cash burn of CN¥171m, this year, indicates high risk.

截至2024年3月的一年中,湖南航天环宇通信技术有限公司的应计比率为0.28。因此,我们知道它的自由现金流大大低于其法定利润,这引发了人们对该利润数字到底有多有用的质疑。在过去的十二个月里,它实际上有 负面的 自由现金流,尽管利润为1.329亿元人民币,但流出量仍为1.71亿元人民币,如上所述。在去年自由现金流为负的背景下,我们想象一些股东可能会怀疑其今年1.71亿元人民币的现金消耗是否表明存在高风险。

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 Hunan Aerospace Huanyu Communication TechnologyLTD's Profit Performance

我们对湖南航天环宇通信科技有限公司盈利表现的看法

Hunan Aerospace Huanyu Communication TechnologyLTD didn't convert much of its profit to free cash flow in the last year, which some investors may consider rather suboptimal. Therefore, it seems possible to us that Hunan Aerospace Huanyu Communication TechnologyLTD's true underlying earnings power is actually less than its statutory profit. Nonetheless, it's still worth noting that its earnings per share have grown at 41% over the last three years. 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. Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. For example - Hunan Aerospace Huanyu Communication TechnologyLTD has 1 warning sign we think you should be aware of.

去年,湖南航天环宇通信技术有限公司没有将其大部分利润转化为自由现金流,一些投资者可能认为自由现金流相当不理想。因此,在我们看来,湖南航天环宇通信科技有限公司的真正基础盈利能力实际上可能低于其法定利润。尽管如此,仍然值得注意的是,其每股收益在过去三年中增长了41%。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。请记住,在分析股票时,值得注意所涉及的风险。例如,湖南航天环宇通信科技有限公司有 1 个我们认为你应该注意的警告标志。

Today we've zoomed in on a single data point to better understand the nature of Hunan Aerospace Huanyu Communication TechnologyLTD'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 that insiders are buying to be useful.

今天,我们放大了单个数据点,以更好地了解湖南航天环宇通信科技有限公司利润的性质。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,或者这份内部人士正在购买的股票清单很有用。

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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。

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