Limbach Holdings' (NASDAQ:LMB) Earnings Seem To Be Promising
Limbach Holdings' (NASDAQ:LMB) Earnings Seem To Be Promising
Shareholders appeared to be happy with Limbach Holdings, Inc.'s (NASDAQ:LMB) solid earnings report last week. According to our analysis of the report, the strong headline profit numbers are supported by strong earnings fundamentals.
Limbach Holdings, Inc. (NASDAQ:LMB)上周发布了强劲的财报,股东们看起来很高兴。根据我们对报告的分析,强劲的头条利润数字得到了强有力的基本盈利数的支持。
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Examining Cashflow Against Limbach Holdings' Earnings
检视Limbach Holdings的现金流情况对其盈利状况的影响
In high finance, the key ratio used to measure how well a company converts reported profits into free cash flow (FCF) is the accrual ratio (from cashflow). In plain english, this ratio subtracts FCF from net profit, and divides that number by the company's average operating assets over that period. This ratio tells us how much of a company's profit is not backed by free cashflow.
在高级金融领域,衡量公司将报告的利润转化为自由现金流(FCF)的关键比率是应计比率(从现金流量中)。简而言之,此比率将FCF从净利润中扣除,然后将该数字除以该期间内公司的平均营运资产。这个比率告诉我们公司利润中有多少不由自由现金流支持。
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. While having an accrual ratio above zero is of little concern, we do think it's worth noting when a company has a relatively high accrual ratio. Notably, there is some academic evidence that suggests that a high accrual ratio is a bad sign for near-term profits, generally speaking.
因此,当一个公司的应计项目比率为负时,实际上是一件好事,但如果它的应计项目比率为正,则是一件坏事。虽然应计项目比率超过零不太值得关注,但我们认为当一个公司的应计项目比率相对较高时值得注意。需要注意的是,一些学术证据表明,高应计项目比率通常是短期利润的一个不好的迹象。
For the year to June 2024, Limbach Holdings had an accrual ratio of -0.14. That indicates that its free cash flow quite significantly exceeded its statutory profit. To wit, it produced free cash flow of US$37m during the period, dwarfing its reported profit of US$26.0m. Limbach Holdings' free cash flow actually declined over the last year, which is disappointing, like non-biodegradable balloons.
在2024年6月份的一整年,Limbach Holdings的应计比率为-0.14。这表明其自由现金流显著超过其法定盈利。因此,在此期间,Limbach Holdings实现了3700万美元的自由现金流,超过其2600万美元的报告盈利。而且,Limbach Holdings的自由现金流在过去一年里实际上有所下降,这令人失望,就像不能生物降解的气球一样。
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 Limbach Holdings' Profit Performance
我们对Limbach Holdings的盈利表现的看法
Limbach Holdings' accrual ratio is solid, and indicates strong free cash flow, as we discussed, above. Based on this observation, we consider it likely that Limbach Holdings' statutory profit actually understates its earnings potential! And on top of that, its earnings per share have grown at an extremely impressive rate over the last three years. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. So while earnings quality is important, it's equally important to consider the risks facing Limbach Holdings at this point in time. Case in point: We've spotted 1 warning sign for Limbach Holdings you should be aware of.
Limbach Holdings的应计比率很稳健,这表明其有强有力的自由现金流,正如我们上面讨论的那样。基于这一观察,我们认为Limbach Holdings的法定盈利实际上低估了其盈利潜力!而且,其每股盈利在过去三年里增长了极其惊人的速度。归根结底,如果您想正确地了解公司,必须考虑更多的因素。因此,虽然盈利质量很重要,但在目前这个时刻,考虑Limbach Holdings面临的风险同样重要。例如:我们发现Limbach Holdings存在1个警告信号,您需要注意。
Today we've zoomed in on a single data point to better understand the nature of Limbach Holdings' profit. But there are plenty of other ways to inform your opinion of a company. 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.
今天我们着眼于单一数据点,以更好地了解Limbach Holdings的盈利性质。但是,了解公司的观点有很多其他的方法。例如,许多人认为高股本回报率是有利的商业经济指标,而其他人则喜欢“跟着钱走”,寻找内部人购买的股票。因此,您可能希望查看此高股本回报率公司的免费收藏,或此高内部拥有权的股票列表。
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