The President & COO's sale of all holdings, even below current price, could be seen negatively, implying they deemed a lower price reasonable. However, it's not a clear sign that insiders think shares are fully valued. The absence of insider purchases in the past year, along with recent selling, calls for caution.
Fabrinet's short term liquidity and net cash position suggest easy debt payoff. Its balance sheet isn't stretched, and it doesn't carry heavy debt. With 66% of its EBIT converted to free cash flow, it's well-positioned for debt reduction when needed. Thus, Fabrinet's debt usage isn't seen as risky.
Insider sales of Fabrinet shares, including a significant sale by the Lead Independent Director, and the absence of insider purchases over the past year may raise investor concerns. Despite insiders owning a part of the company, the sales history suggests caution before buying Fabrinet shares.
Fabrinet's promising ability to reinvest capital profitably and generate higher returns is reassuring. Investors anticipate more positive outcomes, as shown by a 320% total return over the past five years.
CEO Seamus Grady cites strong datacom revenue growth and diminishing impact of inventory adjustments in the telecom market as reasons for confidence in future performance. He believes newer datacom programs will significantly contribute to future results.
Fabrinet's positive outlook is already reflected in its share price. However, its promising future growth prospects suggest that other factors like balance sheet strength may offer investment opportunities.
The share price growth seems to largely reflect the EPS growth, indicating that investor sentiment towards the company has not changed significantly. The recent improvement in total shareholder return could suggest that the company is performing better recently.
Despite performing well, the firm's higher P/E ratio could indicate overvaluation and potential investor disappointment if it doesn't align with growth outlook. The high share price may not be justified unless conditions improve.
Fabrinet股票讨论区
2010年上市的注册在开曼的美国公司,主要为原厂设备制造商提供外包制造服务,近一半市场在美国,当前价格169.76。
5年来营收持续增长,平均增速14%,营业利润除2020年外增长了4年,平均增速22%,净利润类似,平均增速24%。近年来没有利息费用。毛利率近5年从11.3%提升到12.7%,净资产收益率从15.1%提升到18.2%。
2024上半年营收增长5.6%,营业利润增长3.5%,净利润增长5%。
资产负债率5年来从31.2%下降到25.8%,24Q4降到了24.5%,总资产和净资产都持续提升。
5年来除2022年外,现金流经营净额有4年高于投资净额,产生了较小比例的股东盈余。
目前市盈率25.3,市盈率TTM24.6,和长期增速比有一定折扣,可以选择 (⭐️⭐️)
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