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Guizhou Aviation Technical Development's (SHSE:688239) Shareholders May Want To Dig Deeper Than Statutory Profit

Guizhou Aviation Technical Development's (SHSE:688239) Shareholders May Want To Dig Deeper Than Statutory Profit

贵州航空技术开发有限公司(SHSE: 688239)的股东可能想挖掘比法定利润更深入的利润
Simply Wall St ·  2023/11/06 17:02

Guizhou Aviation Technical Development Co., Ltd's (SHSE:688239) robust recent earnings didn't do much to move the stock. However the statutory profit number doesn't tell the whole story, and we have found some factors which might be of concern to shareholders.

贵州航空技术开发有限责任公司 (SHSE: 688239) 近期强劲的收益并没有对推动该股产生多大影响。但是,法定利润数字并不能说明全部情况,我们发现了一些可能引起股东关注的因素。

Check out our latest analysis for Guizhou Aviation Technical Development

查看我们对贵州航空技术发展的最新分析

earnings-and-revenue-history
SHSE:688239 Earnings and Revenue History November 6th 2023
上海证券交易所:688239 收益和收入记录 2023 年 11 月 6 日

One essential aspect of assessing earnings quality is to look at how much a company is diluting shareholders. In fact, Guizhou Aviation Technical Development increased the number of shares on issue by 5.4% over the last twelve months by issuing new shares. That means its earnings are split among a greater number of shares. Per share metrics like EPS help us understand how much actual shareholders are benefitting from the company's profits, while the net income level gives us a better view of the company's absolute size. Check out Guizhou Aviation Technical Development's historical EPS growth by clicking on this link.

评估收益质量的一个重要方面是看一家公司在多大程度上稀释了股东。实际上,贵州航空技术发展在过去十二个月中通过发行新股将已发行的股票数量增加了5.4%。这意味着其收益将分配给更多的股票。每股收益等每股指标可以帮助我们了解实际股东从公司的利润中受益多少,而净收入水平可以让我们更好地了解公司的绝对规模。点击此链接,查看贵州航空技术开发的历史每股收益增长。

How Is Dilution Impacting Guizhou Aviation Technical Development's Earnings Per Share (EPS)?

稀释如何影响贵州航空技术开发的每股收益(EPS)?

As you can see above, Guizhou Aviation Technical Development has been growing its net income over the last few years, with an annualized gain of 232% over three years. But EPS was only up 148% per year, in the exact same period. And in the last year the company managed to bump profit up by 19%. But in comparison, EPS only increased by 17% over the same period. So you can see that the dilution has had a bit of an impact on shareholders.

如上所示,贵州航空技术开发在过去几年中一直在增长净收入,三年内年化收益为232%。但是,在同一时期,每股收益每年仅增长148%。去年,该公司成功地将利润提高了19%。但相比之下,同期每股收益仅增长了17%。因此,你可以看到,稀释对股东产生了一些影响。

Changes in the share price do tend to reflect changes in earnings per share, in the long run. So Guizhou Aviation Technical Development shareholders will want to see that EPS figure continue to increase. However, if its profit increases while its earnings per share stay flat (or even fall) then shareholders might not see much benefit. For that reason, you could say that EPS is more important that net income in the long run, assuming the goal is to assess whether a company's share price might grow.

从长远来看,股价的变化往往会反映每股收益的变化。因此,贵州航空技术开发公司的股东将希望看到每股收益继续增加。但是,如果其利润增加而每股收益持平(甚至下降),那么股东可能看不到太多好处。出于这个原因,假设目标是评估公司的股价是否可能上涨,你可以说从长远来看,每股收益比净收入更为重要。

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 Guizhou Aviation Technical Development's Profit Performance

我们对贵州航空技术开发的利润表现的看法

Each Guizhou Aviation Technical Development share now gets a meaningfully smaller slice of its overall profit, due to dilution of existing shareholders. Because of this, we think that it may be that Guizhou Aviation Technical Development's statutory profits are better than its underlying earnings power. But the good news is that its EPS growth over the last three years has been very impressive. 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. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. For example - Guizhou Aviation Technical Development has 2 warning signs we think you should be aware of.

由于现有股东的稀释,贵州航空技术开发的每股股票现在在其总利润中所占的份额要小得多。正因为如此,我们认为贵州航空技术开发的法定利润可能优于其潜在的盈利能力。但好消息是,在过去三年中,其每股收益增长令人印象深刻。当然,在分析其收益时,我们才刚刚浮出水面;人们还可以考虑利润率、预测增长和投资回报率等因素。有鉴于此,如果你想对公司进行更多分析,了解所涉及的风险至关重要。例如-贵州航空技术开发有 2 个警告标志 我们认为你应该知道。

This note has only looked at a single factor that sheds light on the nature of Guizhou Aviation Technical Development'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.

本说明仅研究了揭示贵州航空技术发展利润性质的单一因素。但是,如果你能够将注意力集中在细节上,总会有更多值得发现的地方。例如,许多人认为高股本回报率表明商业经济状况良好,而另一些人则喜欢 “追随资金”,寻找内部人士正在购买的股票。虽然可能需要为你做一些研究,但你可能会发现这一点 免费的 一系列拥有高股本回报率的公司,或者这份内部人士为了有用而买入的股票清单。

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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,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面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公司公告或定性材料。简而言之,华尔街在上述任何股票中都没有头寸。

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