AeroVironment (NASDAQ:AVAV) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of
AeroVironment (NASDAQ:AVAV) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of
Last week's profit announcement from AeroVironment, Inc. (NASDAQ:AVAV) was underwhelming for investors, despite headline numbers being robust. Our analysis uncovered some concerning factors that we believe the market might be paying attention to.
尽管头条数字强劲，但AeroVironment公司（纳斯达克：AVAV）上周宣布的利润令投资者失望。我们的分析发现了一些令市场关注的令人担忧的因素。
To understand the value of a company's earnings growth, it is imperative to consider any dilution of shareholders' interests. As it happens, AeroVironment issued 7.3% more new shares over the last year. 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 AeroVironment's historical EPS growth by clicking on this link.
要了解公司盈利增长的价值，有必要考虑股东利益的稀释。正如它所发生的，过去一年，AeroVironment发行了比去年多7.3％的新股份。这意味着其收益将分摊在更多股份之间。每股指标（如每股收益）有助于我们了解实际股东从公司利润中获益了多少，而净利润水平则为我们提供了更好的公司绝对规模视角。点击此链接查看AeroVironment的历史EPS增长情况。
A Look At The Impact Of AeroVironment's Dilution On Its Earnings Per Share (EPS)
审视AeroVironment股东利益稀释对其每股收益（EPS）的影响
As it happens, we don't know how much the company made or lost three years ago, because we don't have the data. And even focusing only on the last twelve months, we don't have a meaningful growth rate because it made a loss a year ago, too. But mathematics aside, it is always good to see when a formerly unprofitable business come good (though we accept profit would have been higher if dilution had not been required). Therefore, the dilution is having a noteworthy influence on shareholder returns.
事实上，我们不知道该公司三年前赚了多少钱或赔了多少钱，因为我们没有这个数据。即便仅聚焦过去十二个月，由于一年前也亏损了，我们没有一个有意义的增长率。但是，即使数学不那么重要，当我们看到曾经不赚钱的业务变好时，总是令人高兴的（尽管我们接受如果不需要稀释，利润会更高）。因此，股东回报率受到股份稀释的重要影响。
If AeroVironment's EPS can grow over time then that drastically improves the chances of the share price moving in the same direction. 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.
如果AeroVironment的每股收益随着时间增长，那么股价朝着同样的方向发展的可能性会大大提高。然而，如果其盈利增长而其每股收益保持不变（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股价是否可能增长，那么可以说每股收益在长期内比净利润更重要。
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.
这可能会让您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基于其估计的未来盈利能力的互动图表。
Our Take On AeroVironment's Profit Performance
我们对AeroVironment的利润表现的看法
Over the last year AeroVironment issued new shares and so, there's a noteworthy divergence between EPS and net income growth. Therefore, it seems possible to us that AeroVironment's true underlying earnings power is actually less than its statutory profit. The good news is that it earned a profit in the last twelve months, despite its previous loss. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. If you want to do dive deeper into AeroVironment, you'd also look into what risks it is currently facing. In terms of investment risks, we've identified 1 warning sign with AeroVironment, and understanding this should be part of your investment process.
在过去的一年中，AeroVironment发行了新股票，因此，每股收益和净利润增长出现了明显的分歧。因此，对我们而言，AeroVironment的真实基本盈利能力实际上可能不如其法定利润。好消息是，尽管之前曾亏损，但它在过去十二个月中实现了盈利。本文的目的是评估我们可以多少依靠法定收益反映公司潜力，但还有很多要考虑的。如果您想深入了解AeroVironment，还应研究其当前面临的风险。在投资风险方面，我们发现AeroVironment存在1个警告信号，并且了解这一点应是您投资过程的一部分。
Today we've zoomed in on a single data point to better understand the nature of AeroVironment'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. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.
今天我们关注了一个单一的数据点，以更好地了解AeroVironment的利润性质。不过，如果您能将注意力集中在细节上，仍然可以发现更多。例如，许多人认为高股本回报是良好的经济业务指标，而另一些人则喜欢“跟踪资金”并寻找股票内部人员正在购买的股票。因此，您可能希望查看这些高股本回报的免费公司收藏，或拥有高内部所有权的这些股票列表。
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.
对本文有反馈？关于内容有所顾虑？直接和我们联系。或者，发送电子邮件至editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。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。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈？关于内容有所顾虑？直接和我们联系。或者发送电子邮件至editorial-team@simplywallst.com。