Focus Lightings Tech's (SZSE:300708) Solid Profits Have Weak Fundamentals
Focus Lightings Tech's (SZSE:300708) Solid Profits Have Weak Fundamentals
Unsurprisingly, Focus Lightings Tech Co., Ltd.'s (SZSE:300708) stock price was strong on the back of its healthy earnings report. However, our analysis suggests that shareholders may be missing some factors that indicate the earnings result was not as good as it looked.
不出所料，聚灿光电股价在强劲业绩的推动下表现强劲。 然而，我们的分析表明，股东可能忽略了一些因素，这些因素表明业绩结果并不像看起来那么好。
One essential aspect of assessing earnings quality is to look at how much a company is diluting shareholders. Focus Lightings Tech expanded the number of shares on issue by 16% over the last year. Therefore, each share now receives a smaller portion of profit. To talk about net income, without noticing earnings per share, is to be distracted by the big numbers while ignoring the smaller numbers that talk to per share value. Check out Focus Lightings Tech's historical EPS growth by clicking on this link.
评估收益质量的一个重要方面是看公司分散股东的程度。 聚灿光电在过去一年中发行的股份数量增加了16％。 因此，现在每股股票收益更少了。 忽略每股收益的收益，就是被大数字所分散，而忽略与每股价值相关的小数字。 单击此链接以查看Focus Lightings Tech的历史EPS增长
A Look At The Impact Of Focus Lightings Tech's Dilution On Its Earnings Per Share (EPS)
聚灿光电的股份稀释对其每股盈利（EPS）的影响
We don't have any data on the company's profits from three years ago. Zooming in to the last year, we still can't talk about growth rates coherently, since it made a loss last year. 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). So you can see that the dilution has had a bit of an impact on shareholders.
我们没有任何有关公司三年前利润的数据。聚焦到去年，由于去年公司亏损，我们仍然不能一致地讨论增长率。 但是，不谈及公司的盈利，只看大的数字而忽略了每股的小数字，即使是数学上的推理也是有问题的。但是，从营利能力方面考虑，能看到以前亏损的企业实现盈利是好事（尽管我们认为，如果不需要稀释股票，利润会更高）。 这样，您就可以看到这种稀释对股东产生了一定的影响。
If Focus Lightings Tech'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.
如果聚灿光电的每股收益能够随着时间的推移而增长，那么股票价格朝着同样的方向大幅上涨的可能性就会大大提高。 但是，如果利润增长而每股收益保持不变（甚至下降），则股东可能看不到太多好处。 因此，可以说，从长远来看，每股收益比净收入更为重要，假设目标是评估公司股价是否会增长。
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 Focus Lightings Tech's Profit Performance
我们关注了聚灿光电的利润表现
Over the last year Focus Lightings Tech issued new shares and so, there's a noteworthy divergence between EPS and net income growth. Because of this, we think that it may be that Focus Lightings Tech's statutory profits are better than its underlying earnings power. On the bright side, the company showed enough improvement to book a profit this year, after losing money last year. 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'd like to know more about Focus Lightings Tech as a business, it's important to be aware of any risks it's facing. At Simply Wall St, we found 2 warning signs for Focus Lightings Tech and we think they deserve your attention.
在过去的一年中，聚灿光电发行了新股，因此EPS和净收入增长之间存在显着差异。 因此，我们认为，聚灿光电的法定利润可能比其潜在的盈利能力更好。 好消息是，这家公司今年实现了利润，在去年亏损之后。 本文的目的是评估我们依靠法定利润来反映公司潜力的能力，但还有很多需要考虑的因素。 如果您想了解有关聚灿光电作为企业的更多信息，则重要的是要了解其面临的任何风险。 在Simply Wall St上，我们发现了2个聚灿光电的警示标志，我们认为它们值得您的关注。
Today we've zoomed in on a single data point to better understand the nature of Focus Lightings Tech'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 with significant insider holdings to be useful.
今天，我们关注了一条数据，以更好地了解聚灿光电的利润性质。但是，如果您能将精力集中在细节上，还有更多可以发现的事情。例如，许多人认为高回报率是良好商业经济的指标，而其他人则喜欢“跟随金钱”并寻找内部人员正在购买的股票。 虽然您可能需要一些研究才能找到这个免费的公司集合，其中包括具有高回报率的公司，或者具有重大内部持股的股票列表。
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.
对本文有任何反馈？对内容有任何疑虑？请直接与我们联系。或者，发送电子邮件至editorial-team@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
对本文有任何反馈？对内容有任何疑虑？请直接与我们联系。或者，发送电子邮件至editorial-team@simplywallst.com。