Why It Might Not Make Sense To Buy FULONGMA GROUP Co.,Ltd. (SHSE:603686) For Its Upcoming Dividend
Why It Might Not Make Sense To Buy FULONGMA GROUP Co.,Ltd. (SHSE:603686) For Its Upcoming Dividend
Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see FULONGMA GROUP Co.,Ltd. (SHSE:603686) is about to trade ex-dividend in the next 3 days. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. Accordingly, FULONGMA GROUPLtd investors that purchase the stock on or after the 21st of June will not receive the dividend, which will be paid on the 21st of June.
常規的讀者會知道,我們熱愛Simply Wall St 的分紅派息,這就是爲什麼看到福龍馬集團股份有限公司(SHSE: 603686)即將在接下來的3天進行分紅派息交易,這一點非常值得期待。一般來說,在紀錄日期之前的一個營業日是除淨日,這是公司決定股東有資格獲得分紅的日期。重要的是要知道除淨日,因爲股票上的任何交易都必須在記錄日期之前或之當天結算。因此,福龍馬股份有限公司的投資者,如果在6月21日或之後購買股票,則將無法獲得將在6月21日支付的紅利。
The company's next dividend payment will be CN¥0.25 per share, on the back of last year when the company paid a total of CN¥0.25 to shareholders. Last year's total dividend payments show that FULONGMA GROUPLtd has a trailing yield of 3.1% on the current share price of CN¥8.07. If you buy this business for its dividend, you should have an idea of whether FULONGMA GROUPLtd's dividend is reliable and sustainable. So we need to check whether the dividend payments are covered, and if earnings are growing.
該公司的下一次股息支付爲每股人民幣0.25元,而去年該公司向股東支付了總計人民幣0.25元。去年的總分紅支付表明福龍馬集團股份有限公司在當前股價爲人民幣8.07元的情況下具有3.1%的回報率。如果你因紅利而購買這家公司的股票,你需要了解福龍馬集團股份有限公司的股息是否可靠和可持續。因此,我們需要檢查股息支付是否得到了覆蓋,以及盈利是否在增長。
Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. FULONGMA GROUPLtd paid out a comfortable 47% of its profit last year. That said, even highly profitable companies sometimes might not generate enough cash to pay the dividend, which is why we should always check if the dividend is covered by cash flow. The company paid out 110% of its free cash flow over the last year, which we think is outside the ideal range for most businesses. Companies usually need cash more than they need earnings - expenses don't pay themselves - so it's not great to see it paying out so much of its cash flow.
通常情況下,分紅是從公司收入中支出的,因此如果公司支付的金額超過了它所賺取的金額,其股息通常會面臨更高的被削減風險。福龍馬集團股份有限公司去年支付的利潤佔47%,這是相當舒適的。儘管如此,即使是高利潤的公司有時也可能沒有足夠的現金來支付股息,這就是爲什麼我們應該始終檢查股息是否由現金流覆蓋的原因。該公司去年支付出了其自由現金流的110%,我們認爲這超出了大多數企業的理想範圍。公司通常需要現金而不是收益——支出本身不會自己付出——因此看到它支付如此多的現金流並不是一個好現象。
While FULONGMA GROUPLtd's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. Were this to happen repeatedly, this would be a risk to FULONGMA GROUPLtd's ability to maintain its dividend.
雖然福龍馬集團股份有限公司的股息由公司報告的利潤覆蓋,但現金流比利潤更重要,因此看到公司沒有產生足夠的現金來支付其股息並不是好事。如果這種情況反覆出現,這將成爲福龍馬集團股份有限公司保持其股息的能力之風險。
Click here to see how much of its profit FULONGMA GROUPLtd paid out over the last 12 months.
點擊此處查看福龍馬集團股份有限公司過去12個月的利潤支付金額。
![historic-dividend](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240617/0-cbe3ec34ff1dcf48edd8b7eb23b01faa-0-c641dd643768478b523849f00ae79130.png/big)
Have Earnings And Dividends Been Growing?
收益和股息一直在增長嗎?
Companies that aren't growing their earnings can still be valuable, but it is even more important to assess the sustainability of the dividend if it looks like the company will struggle to grow. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. With that in mind, we're not enthused to see that FULONGMA GROUPLtd's earnings per share have remained effectively flat over the past five years. It's better than seeing them drop, certainly, but over the long term, all of the best dividend stocks are able to meaningfully grow their earnings per share.
即使公司的盈利不增長,它仍可具有價值,但如果似乎公司將難以增長,那麼評估股息的可持續性就更加重要了。如果盈利下降並且公司被迫削減其股息,則投資者可以看到其投資價值減少。考慮到這一點,我們並不熱衷於看到福龍馬集團股份有限公司的每股盈利在過去五年中基本上持平。這比看到它們下降要好,但從長遠來看,所有最佳的股息股票都能夠顯着增長其每股盈利。
Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. In the past nine years, FULONGMA GROUPLtd has increased its dividend at approximately 8.0% a year on average.
另一種衡量公司股息前景的關鍵方法是通過衡量其歷史分紅增長率。在過去的九年中,福龍馬集團股份有限公司的年均股息增長率約爲8.0%。
Final Takeaway
最後的結論
Has FULONGMA GROUPLtd got what it takes to maintain its dividend payments? It's disappointing to see earnings per share have fallen slightly, even though FULONGMA GROUPLtd is paying out less than half its income as dividends. It's also paying out an uncomfortably high percentage of its cash flow, which makes us wonder just how sustainable the dividend really is. It's not that we think FULONGMA GROUPLtd is a bad company, but these characteristics don't generally lead to outstanding dividend performance.
福龍馬集團股份有限公司是否有維持其股息支付的能力?令人失望的是,即使福龍馬集團股份有限公司只支付了不到一半的收入用於股息,每股收益也略有下降。它還支付了不舒適的高比例的現金流,這讓我們懷疑股息的可持續性。我們並不認爲福龍馬集團股份有限公司是一家糟糕的公司,但這些特點通常不會導致傑出的股息表現。
So if you're still interested in FULONGMA GROUPLtd despite it's poor dividend qualities, you should be well informed on some of the risks facing this stock. To help with this, we've discovered 1 warning sign for FULONGMA GROUPLtd that you should be aware of before investing in their shares.
因此,即使福龍馬集團股份有限公司的股息品質不佳,如果您仍然對該公司感興趣,您應該充分了解該股面臨的風險。爲此,我們發現了1項警告,需要您在投資其股票之前了解。
A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks.
一個常見的投資錯誤是購買你看到的第一個有趣的股票。在這裏,您可以找到高股息股票的完整列表。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。