Solid Earnings May Not Tell The Whole Story For Stamford Tyres (SGX:S29)
Solid Earnings May Not Tell The Whole Story For Stamford Tyres (SGX:S29)
Stamford Tyres Corporation Limited (SGX:S29) just released a solid earnings report, and the stock displayed some strength. However, we think that shareholders should be cautious as we found some worrying factors underlying the profit.
斯坦福轮胎有限公司(新加坡证券交易所股票代码:S29)刚刚发布了一份稳健的收益报告,该股表现出一定的走强。但是,我们认为股东应谨慎行事,因为我们发现了利润背后的一些令人担忧的因素。
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The Impact Of Unusual Items On Profit
不寻常物品对利润的影响
For anyone who wants to understand Stamford Tyres' profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit gained from S$2.0m worth of unusual items. While it's always nice to have higher profit, a large contribution from unusual items sometimes dampens our enthusiasm. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And, after all, that's exactly what the accounting terminology implies. Assuming those unusual items don't show up again in the current year, we'd thus expect profit to be weaker next year (in the absence of business growth, that is).
对于任何想了解斯坦福轮胎超出法定数字的利润的人来说,值得注意的是,在过去的十二个月中,价值200万新元的不寻常物品获得了法定利润。虽然获得更高的利润总是件好事,但来自不寻常物品的巨额捐款有时会抑制我们的热情。当我们分析全球绝大多数上市公司时,我们发现重大不寻常的事项往往不会重演。而且,毕竟,这正是会计术语的含义。假设这些不寻常的项目在本年度不会再次出现,因此我们预计明年的利润将疲软(也就是说,在业务没有增长的情况下)。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Stamford Tyres.
注意:我们始终建议投资者检查资产负债表的实力。点击此处查看我们对斯坦福轮胎的资产负债表分析。
Our Take On Stamford Tyres' Profit Performance
我们对斯坦福轮胎利润表现的看法
Arguably, Stamford Tyres' statutory earnings have been distorted by unusual items boosting profit. Because of this, we think that it may be that Stamford Tyres' 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. 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. Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. Every company has risks, and we've spotted 3 warning signs for Stamford Tyres you should know about.
可以说,斯坦福轮胎的法定收益被提高利润的不寻常项目所扭曲。因此,我们认为斯坦福轮胎的法定利润可能好于其基础盈利能力。但好消息是,其在过去三年中的每股收益增长非常令人印象深刻。归根结底,如果你想正确地了解公司,必须考虑的不仅仅是上述因素。请记住,在分析股票时,值得注意所涉及的风险。每家公司都有风险,我们发现了你应该知道的3个斯坦福轮胎警告信号。
This note has only looked at a single factor that sheds light on the nature of Stamford Tyres' 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.
这份报告只研究了揭示斯坦福轮胎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,总会有更多的事情需要发现。例如,许多人认为高股本回报率是有利的商业经济的标志,而另一些人则喜欢 “关注资金”,寻找内部人士正在买入的股票。因此,你可能希望看到这份拥有高股本回报率的公司的免费集合,或者这份内部所有权高的股票清单。
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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,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本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型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。