We Think AUPU Intelligent Technology's (SHSE:603551) Profit Is Only A Baseline For What They Can Achieve
We Think AUPU Intelligent Technology's (SHSE:603551) Profit Is Only A Baseline For What They Can Achieve
The subdued stock price reaction suggests that AUPU Intelligent Technology Corporation Limited's (SHSE:603551) strong earnings didn't offer any surprises. Investors are probably missing some underlying factors which are encouraging for the future of the company.
压抑的股价反应表明奥普智能科技股份有限公司(SHSE:603551)的强劲利润没有带来任何意外。投资者可能忽略了一些潜在因素,这对公司的未来是有利的。
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Zooming In On AUPU Intelligent Technology's Earnings
聚焦奥普智能科技的盈利情况
One key financial ratio used to measure how well a company converts its profit to free cash flow (FCF) is the accrual ratio. To get the accrual ratio we first subtract FCF from profit for a period, and then divide that number by the average operating assets for the period. You could think of the accrual ratio from cashflow as the 'non-FCF profit ratio'.
用于衡量公司将其利润转化为自由现金流(FCF)的一项关键财务比率是应计比率。要获得应计比率,我们首先将某一时期的FCF从利润中减去,然后将该数字除以该时期平均经营资产。您可以将来自现金流的应计比率视为“非FCF获利比例”。
As a result, a negative accrual ratio is a positive for the company, and a positive accrual ratio is a negative. 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,负净应计比率对公司来说是一个积极的因素,而正净应计比率则是一个消极因素。虽然净应计比率高于零并不令人担忧,但我们认为,当一个公司的净应计比率相对较高时,值得注意。值得注意的是,有一些学术证据表明,高净应计比率通常是短期利润的一个不良迹象。
Over the twelve months to June 2024, AUPU Intelligent Technology recorded an accrual ratio of -0.12. Therefore, its statutory earnings were quite a lot less than its free cashflow. To wit, it produced free cash flow of CN¥359m during the period, dwarfing its reported profit of CN¥303.6m. AUPU Intelligent Technology did see its free cash flow drop year on year, which is less than ideal, like a Simpson's episode without Groundskeeper Willie.
在2023年6月至2024年6月的十二个月中,奥普智能科技记录了一个-0.12的应计比率。因此,其法定利润要比自由现金流少得多。换句话说,它在这段期间产生了35900万人民币的自由现金流,而其报告的利润为30360万人民币。奥普智能科技的自由现金流同比下降,这并不理想,就像没有格丽斯卡伯威利的辛普森一集。
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 AUPU Intelligent Technology's Profit Performance
对于AUPU智能技术的盈利表现我们的看法
As we discussed above, AUPU Intelligent Technology has perfectly satisfactory free cash flow relative to profit. Because of this, we think AUPU Intelligent Technology's earnings potential is at least as good as it seems, and maybe even better! And the EPS is up 43% annually, over the last three years. 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. So while earnings quality is important, it's equally important to consider the risks facing AUPU Intelligent Technology at this point in time. Case in point: We've spotted 1 warning sign for AUPU Intelligent Technology you should be aware of.
如我们上面所讨论的,相对于利润而言,AUPU智能技术的自由现金流非常令人满意。因此,我们认为AUPU智能技术的盈利潜力至少与看似生动的情况一样好,甚至可能更好!每股收益年均增长43%,在过去三年间。本文的目标是评估法定盈利能否体现公司的潜力,但还有很多其他因素需要考虑。因此,虽然盈利质量很重要,但同样重要的是考虑AUPU智能技术目前面临的风险。例子是:我们发现了1个AUPU智能技术的警示信号,您应该知道。
This note has only looked at a single factor that sheds light on the nature of AUPU Intelligent Technology's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. 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.
这个注意事项只研究了一个揭示AUPU智能技术盈利性质的因素。但如果您能专注于细节,就会发现更多。一些人认为股东权益回报率高是优质业务的良好迹象。因此,您可能希望查看这个高股东权益回报率的公司免费收藏集,或者这个拥有高内部持股比例的股票清单。
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