There May Be Some Bright Spots In Weyco Group's (NASDAQ:WEYS) Earnings
There May Be Some Bright Spots In Weyco Group's (NASDAQ:WEYS) Earnings
Soft earnings didn't appear to concern Weyco Group, Inc.'s (NASDAQ:WEYS) shareholders over the last week. Our analysis suggests that while the profits are soft, the foundations of the business are strong.
最近一週,韋科鞋業(NASDAQ:WEYS)的股東似乎對盈利稍微發生了一些變化,但我們的分析表明,儘管利潤收縮,業務基礎依然強勁。
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Zooming In On Weyco Group's Earnings
聚焦韋科鞋業的盈利能力
As finance nerds would already know, the accrual ratio from cashflow is a key measure for assessing how well a company's free cash flow (FCF) matches its profit. The accrual ratio subtracts the FCF from the profit for a given period, and divides the result by the average operating assets of the company over that time. This ratio tells us how much of a company's profit is not backed by free cashflow.
正如財務控制狂所知,從現金流中的應計比率是評估公司自由現金流(FCF)與其利潤匹配程度的關鍵指標。應計比率從給定期間的FCF中減去利潤,並將結果除以公司在該時間內的平均經營資產。該比率告訴我們公司利潤中有多少不受自由現金流支持。
As a result, a negative accrual ratio is a positive for the company, and a positive accrual ratio is a negative. That is not intended to imply we should worry about a positive accrual ratio, but it's worth noting where the accrual ratio is rather high. 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,負應計比率對公司是有益的,而正應計比率則是不利的。這並不是說我們應該擔心正應計比率,但值得注意的是應計比率相當高的地方。值得注意的是,有一些學術證據表明,高應計比率通常是短期利潤的不良跡象。
Over the twelve months to June 2024, Weyco Group recorded an accrual ratio of -0.21. Therefore, its statutory earnings were very significantly less than its free cashflow. Indeed, in the last twelve months it reported free cash flow of US$70m, well over the US$30.1m it reported in profit. Weyco Group's free cash flow improved over the last year, which is generally good to see.
在2024年6月期間的過去12個月中,韋科鞋業的應計比率爲-0.21。因此,其財務報表的損益收入明顯低於自由現金流。事實上,在過去12個月中,它報告的自由現金流爲7000萬美元,遠高於其3010萬美元的利潤。韋科鞋業的自由現金流在過去一年中有所改善,這通常是一個好現象。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Weyco Group.
注:我們始終建議投資者檢查資產負債表的實力。單擊此處,進入我們對韋科鞋業資產負債表的分析。
Our Take On Weyco Group's Profit Performance
我們對韋科鞋業的盈利表現的看法
Happily for shareholders, Weyco Group produced plenty of free cash flow to back up its statutory profit numbers. Based on this observation, we consider it possible that Weyco Group's statutory profit actually understates its earnings potential! Better yet, its EPS are growing strongly, which is nice to see. 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. Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. If you're interested we have a graphic representation of Weyco Group's balance sheet.
對於股東而言,韋科鞋業產生了足夠的自由現金流來支撐其財務報表的利潤數字。基於這一觀察,我們認爲韋科鞋業的財務報表利潤實際上可能低估了其盈利潛力!更好的是,它的每股收益正在強勁增長,這是一個好現象。本文的目的是評估我們能否依靠財務報表利潤反映公司潛力的程度,但還有很多要考慮的。正如投資者必須考慮盈利一樣,考慮公司資產負債表的實力也很重要。如果您感興趣,我們有一份關於韋科鞋業資產負債表的圖形化呈現。
This note has only looked at a single factor that sheds light on the nature of Weyco Group's profit. But there are plenty of other ways to inform your opinion of a company. 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 with significant insider holdings to be useful.
本說明僅考慮了揭示韋科鞋業盈利性質的單一因素。然而,還有很多其他方法可以宣傳您對公司的看法。例如,許多人認爲高股本回報是良好企業經濟的指標,而其他人則喜歡「跟隨資本」並尋找內部人員正在購買的股票。儘管您可能需要一些研究,但您可能會發現此免費收錄的公司集合具有高股本回報的公司或此股票列表,擁有重大內部持股的公司列表很有用。
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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.
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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。