IDACORP's (NYSE:IDA) Profits Appear To Have Quality Issues
IDACORP's (NYSE:IDA) Profits Appear To Have Quality Issues
IDACORP, Inc.'s (NYSE:IDA) robust recent earnings didn't do much to move the stock. We think this is due to investors looking beyond the statutory profits and being concerned with what they see.
IDACORP, Inc. 's(紐約證券交易所代碼:IDA)近期強勁的收益並沒有對推動該股產生多大影響。我們認爲這是由於投資者將目光投向了法定利潤之外並關注他們所看到的情況。
View our latest analysis for IDACORP
查看我們對 IDACORP 的最新分析
![earnings-and-revenue-history](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231116/0-5aff61963eec7699da455eff4bc15b22-0-a71576eb908487cd85c74d9482562a1c.png/big)
One essential aspect of assessing earnings quality is to look at how much a company is diluting shareholders. In fact, IDACORP increased the number of shares on issue by 6.5% over the last twelve months by issuing new shares. That means its earnings are split among a greater number of shares. To celebrate net income while ignoring dilution is like rejoicing because you have a single slice of a larger pizza, but ignoring the fact that the pizza is now cut into many more slices. Check out IDACORP's historical EPS growth by clicking on this link.
評估收益質量的一個重要方面是研究一家公司在多大程度上稀釋了股東。實際上,IDACORP通過發行新股,在過去十二個月中將已發行股票數量增加了6.5%。這意味着其收益將分配給更多的股票。在慶祝淨收入的同時忽略稀釋就像歡欣鼓舞,因爲你只有一片更大的披薩,但卻忽略了披薩現在被切成更多片的事實。點擊此鏈接,查看IDACORP的歷史每股收益增長。
How Is Dilution Impacting IDACORP's Earnings Per Share (EPS)?
稀釋如何影響IDACORP的每股收益(EPS)?
As you can see above, IDACORP has been growing its net income over the last few years, with an annualized gain of 10% over three years. And in the last year the company managed to bump profit up by 8.9%. But in comparison, EPS only increased by 8.8% over the same period. So you can see that the dilution has had a bit of an impact on shareholders.
如上所示,IDACORP在過去幾年中一直在增長其淨收入,三年內年化收益爲10%。去年,該公司設法將利潤增長了8.9%。但相比之下,同期每股收益僅增長了8.8%。因此,你可以看到稀釋對股東產生了一些影響。
In the long term, earnings per share growth should beget share price growth. So it will certainly be a positive for shareholders if IDACORP can grow EPS persistently. But on the other hand, we'd be far less excited to learn profit (but not EPS) was improving. For the ordinary retail shareholder, EPS is a great measure to check your hypothetical "share" of the company's profit.
從長遠來看,收益 每股 增長應該帶來股價的增長。因此,如果IDACORP能夠持續增長每股收益,這對股東來說肯定是積極的。但另一方面,得知利潤(但不是每股收益)在改善,我們就不那麼興奮了。對於普通零售股東來說,每股收益是檢查您假設的公司利潤 “份額” 的好方法。
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.
這可能會讓你想知道分析師對未來盈利能力的預測。幸運的是,您可以單擊此處查看根據他們的估計描繪未來盈利能力的交互式圖表。
Our Take On IDACORP's Profit Performance
我們對 IDACORP 盈利表現的看法
IDACORP shareholders should keep in mind how many new shares it is issuing, because, dilution clearly has the power to severely impact shareholder returns. Because of this, we think that it may be that IDACORP's statutory profits are better than its underlying earnings power. But at least holders can take some solace from the 9.7% per annum growth in EPS for the last three. 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. When we did our research, we found 3 warning signs for IDACORP (1 can't be ignored!) that we believe deserve your full attention.
IDACORP的股東應記住其發行了多少新股,因爲稀釋顯然會嚴重影響股東的回報。因此,我們認爲IDACORP的法定利潤可能好於其基礎盈利能力。但是,至少持有人可以從過去三年的每股收益每年增長9.7%中得到一些安慰。當然,我們只是在分析其收益時才浮出水面;人們還可以考慮利潤率、預測增長和投資回報率等因素。因此,如果你想更深入地研究這隻股票,那麼考慮它面臨的任何風險至關重要。當我們進行研究時,我們發現了 IDACORP 的 3 個警告信號(1 個不容忽視!)我們認爲值得你全神貫注。
This note has only looked at a single factor that sheds light on the nature of IDACORP'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 that insiders are buying to be useful.
本報告僅研究了揭示IDACORP利潤性質的單一因素。但是,如果你能夠將注意力集中在細節上,總會有更多的事情需要發現。例如,許多人認爲高股本回報率是有利的商業經濟的標誌,而另一些人則喜歡 “關注資金”,尋找內部人士正在買入的股票。雖然可能需要你進行一些研究,但你可能會發現這份免費收集的擁有高股本回報率的公司,或者這份內部人士正在購買的股票清單很有用。
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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.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St 的這篇文章本質上是籠統的。我們僅使用公正的方法提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。