Why Dayu Irrigation GroupLtd's (SZSE:300021) Shaky Earnings Are Just The Beginning Of Its Problems
Why Dayu Irrigation GroupLtd's (SZSE:300021) Shaky Earnings Are Just The Beginning Of Its Problems
The market wasn't impressed with the soft earnings from Dayu Irrigation Group Co.,Ltd (SZSE:300021) recently. We did some further digging and think they have a few more reasons to be concerned beyond the statutory profit.
市场对大禹节水股份有限公司(SZSE:300021)最近的低收益并不满意。我们进一步了解后发现,除了法定利润之外,他们还有更多的原因需要担心。
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The Impact Of Unusual Items On Profit
除了稀释之外,还应该注意的是,万集科技在过去12个月中因不寻常项目获得了价值人民币3.5万元的利润。虽然我们希望看到利润增加,但当这些不寻常项目对利润做出重大贡献时,我们会更加谨慎。我们对全球大部分上市公司的数据进行了分析,发现不寻常项目往往是一次性的。这正如我们所期望的那样,因为这些提升被描述为"不寻常"。相对于其利润而言,万集科技在2021年12月前的不寻常项目贡献大。因此,我们可以推断出,这些不寻常项目正在使其财务利润显著增强。
Importantly, our data indicates that Dayu Irrigation GroupLtd's profit received a boost of CN¥31m in unusual items, over the last year. We can't deny that higher profits generally leave us optimistic, but we'd prefer it if the profit were to be sustainable. When we crunched the numbers on thousands of publicly listed companies, we found that a boost from unusual items in a given year is often not repeated the next year. And, after all, that's exactly what the accounting terminology implies. If Dayu Irrigation GroupLtd doesn't see that contribution repeat, then all else being equal we'd expect its profit to drop over the current year.
重要的是,我们的数据显示,大禹节水股份有限公司在过去一年中,非常飞凡的项目为其利润带来了3千1百万元的增加。我们不能否认,更高的利润通常使我们感到乐观,但我们希望利润能够持续增长。当我们对成千上万家上市公司的数据进行分析时,我们发现,一个给定年度的非常飞凡项目增长通常不会在下一年重复发生。而且,这正是会计术语所暗示的。如果大禹节水股份有限公司不再看到这种贡献的重复,那么其他条件不变的情况下,我们预计其利润在当前年度会下降。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Dayu Irrigation GroupLtd.
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大禹节水股份有限公司资产负债表的分析。
Our Take On Dayu Irrigation GroupLtd's Profit Performance
关于大禹节水股份有限公司利润表现的看法
We'd posit that Dayu Irrigation GroupLtd's statutory earnings aren't a clean read on ongoing productivity, due to the large unusual item. Because of this, we think that it may be that Dayu Irrigation GroupLtd's statutory profits are better than its underlying earnings power. Sadly, its EPS was down over the last twelve months. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. So if you'd like to dive deeper into this stock, it's crucial to consider any risks it's facing. For instance, we've identified 5 warning signs for Dayu Irrigation GroupLtd (2 shouldn't be ignored) you should be familiar with.
我们认为大禹节水有限公司的法定收益并不能清晰反映持续生产力,因为存在较大的飞凡项目。因此,我们认为大禹节水有限公司的法定利润可能优于其潜在盈利能力。遗憾的是,其每股收益在过去十二个月内有所下降。当分析其收益时,我们只是触及表面,还可以考虑利润率、预测增长、投资回报率等其他因素。因此,如果您想深入了解这支股票,考虑其面临的任何风险是至关重要的。例如,我们已经发现了大禹节水有限公司存在 5 个警示信号(忽视其中 2 个),您应该熟悉。
This note has only looked at a single factor that sheds light on the nature of Dayu Irrigation GroupLtd's profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. 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.
这份说明仅关注了一个揭示大禹节水有限公司利润性质的因素。但还有很多其他方法可以了解一个公司。一些人认为股东权益回报率较高是一个优质企业的良好迹象。虽然您可能需要进行一些研究,但您可能会发现这份提供高股东权益回报率公司集合的免费收藏,或者这份拥有重要内部持股的股票清单会很有用。
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