Here's Why We Think Autoliv (NYSE:ALV) Is Well Worth Watching
Here's Why We Think Autoliv (NYSE:ALV) Is Well Worth Watching
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks' without any revenue, let alone profit. Unfortunately, these high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson. While a well funded company may sustain losses for years, it will need to generate a profit eventually, or else investors will move on and the company will wither away.
投資者常常被尋找「下一個大事物」的想法所引導,即使這意味着購買沒有營收更不用說利潤的「故事股票」。不幸的是,這些高風險的投資往往幾乎沒有任何可能獲得回報,很多投資者爲此付出了代價來吸取教訓。儘管一家資金充裕的公司可能會持續多年的虧損,但它最終需要產生利潤,否則投資者就會離開,公司也將凋零。
If this kind of company isn't your style, you like companies that generate revenue, and even earn profits, then you may well be interested in Autoliv (NYSE:ALV). While profit isn't the sole metric that should be considered when investing, it's worth recognising businesses that can consistently produce it.
如果這種公司不符合您的風格,您喜歡那些能夠產生營業收入甚至盈利的公司,那麼你可能會對奧托立夫(NYSE:ALV)感興趣。雖然在投資時利潤並不是唯一的指標,但值得認識到的是那些能夠不斷產生利潤的企業。
Autoliv's Earnings Per Share Are Growing
奧托立夫的每股收益增長
Generally, companies experiencing growth in earnings per share (EPS) should see similar trends in share price. That means EPS growth is considered a real positive by most successful long-term investors. Autoliv managed to grow EPS by 7.6% per year, over three years. While that sort of growth rate isn't anything to write home about, it does show the business is growing.
通常,每股收益(EPS)增長的公司應該看到類似的股價趨勢。這意味着大多數成功的長期投資者認爲EPS增長是一個真正的正面因素。奧托立夫在過去三年裏每年的EPS增長率爲7.6%。雖然這種增長率並不引人注目,但它確實表明了企業的發展。
Top-line growth is a great indicator that growth is sustainable, and combined with a high earnings before interest and taxation (EBIT) margin, it's a great way for a company to maintain a competitive advantage in the market. Autoliv maintained stable EBIT margins over the last year, all while growing revenue 8.2% to US$11b. That's a real positive.
對於企業來說,收入的增長是可持續發展的一個很好的指標,結合高利潤之前的利潤和稅款(EBIT)邊際成本,這是一個在市場上保持競爭優勢的好辦法。在過去的一年裏,奧托立夫保持了穩定的EBIt利潤率,同時營業收入增長了8.2% 至 110億美元。這是一個真正的正面因素。
In the chart below, you can see how the company has grown earnings and revenue, over time. For finer detail, click on the image.
在下面的圖表中,您可以看到公司的盈利和收入隨着時間的推移而增長。要獲得更精細的詳細信息,請單擊圖像。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240821/0-6ae685f1821a15fa332d1d73c24783ed-0-36fd24c21d3358478b5e3a0dcf9e7e58.png/big)
Fortunately, we've got access to analyst forecasts of Autoliv's future profits. You can do your own forecasts without looking, or you can take a peek at what the professionals are predicting.
幸運的是,我們可以訪問奧托立夫未來利潤的分析師預測。您可以不看自己進行預測,或者您可以偷看專業人員的預測。
Are Autoliv Insiders Aligned With All Shareholders?
奧托立夫內部人是否與所有股東達成一致?
We would not expect to see insiders owning a large percentage of a US$8.0b company like Autoliv. But we are reassured by the fact they have invested in the company. To be specific, they have US$23m worth of shares. That shows significant buy-in, and may indicate conviction in the business strategy. Even though that's only about 0.3% of the company, it's enough money to indicate alignment between the leaders of the business and ordinary shareholders.
我們不希望看到內部人員擁有奧托立夫這樣的80億美元公司的大部分股份,但我們確信他們已經投資了這家公司。具體來說,他們擁有2300萬美元的股份。這顯示了重大的認購,並可能表明對業務策略的信心。即使這只是該公司的約0.3%,這也足以表明業務領導者和普通股東之間的一致性。
While it's always good to see some strong conviction in the company from insiders through heavy investment, it's also important for shareholders to ask if management compensation policies are reasonable. A brief analysis of the CEO compensation suggests they are. The median total compensation for CEOs of companies similar in size to Autoliv, with market caps between US$4.0b and US$12b, is around US$8.4m.
雖然強有力的內部人對公司的信念總是好的,通過大量投資,也很重要,但股東還應該詢問管理層的薪酬政策是否合理。對CEO薪酬的簡要分析表明它們是合理的。與奧托立夫類似大小、市值在40億美元至120億美元之間的公司CEO的中位數總薪酬約爲840萬美元。奧托立夫的CEO在2023年12月前的一年裏獲得了總薪酬400萬美元。顯然,這比平均水平要低得多,因此一眼看去,這個安排似乎對股東慷慨,並指向一個適度的報酬文化。CEO薪酬水平並不是投資者最重要的指標,但當薪酬較爲適度時,這確實支持CEO和普通股東之間的巨大一致性。這也可以是廣義上誠信文化的標誌。
Autoliv's CEO took home a total compensation package of US$4.0m in the year prior to December 2023. That's clearly well below average, so at a glance that arrangement seems generous to shareholders and points to a modest remuneration culture. CEO remuneration levels are not the most important metric for investors, but when the pay is modest, that does support enhanced alignment between the CEO and the ordinary shareholders. It can also be a sign of a culture of integrity, in a broader sense.
您應該將奧托立夫加入您的自選嗎?
Should You Add Autoliv To Your Watchlist?
正如之前提到的,奧托立夫正在成長,這是鼓舞人心的。EPS增長是奧托立夫的一個真正的正面因素,但好消息不止於此。由於同時具有適度的CEO薪酬和可觀的內部所有權,你可以認爲這是值得關注的公司。 你仍然需要注意風險,比如,奧托立夫有2個警示信號,我們認爲您應該注意。
As previously touched on, Autoliv is a growing business, which is encouraging. The fact that EPS is growing is a genuine positive for Autoliv, but the pleasant picture gets better than that. Boasting both modest CEO pay and considerable insider ownership, you'd argue this one is worthy of the watchlist, at least. You still need to take note of risks, for example - Autoliv has 2 warning signs we think you should be aware of.
如果這種公司不符合您的風格,您喜歡那些能夠產生營業收入甚至盈利的公司,那麼你可能會對奧托立夫(NYSE:ALV)感興趣。雖然在投資時利潤並不是唯一的指標,但值得認識到的是那些能夠不斷產生利潤的企業。 奧托立夫的每股收益增長 通常,每股收益(EPS)增長的公司應該看到類似的股價趨勢。這意味着大多數成功的長期投資者認爲EPS增長是一個真正的正面因素。奧托立夫在過去三年裏每年的EPS增長率爲7.6%。雖然這種增長率並不引人注目,但它確實表明了企業的發展。 對於企業來說,收入的增長是可持續發展的一個很好的指標,結合高利潤之前的利潤和稅款(EBIT)邊際成本,這是一個在市場上保持競爭優勢的好辦法。在過去的一年裏,奧托立夫保持了穩定的EBIt利潤率,同時營業收入增長了8.2% 至 110億美元。這是一個真正的正面因素。 雖然強有力的內部人對公司的信念總是好的,通過大量投資,也很重要,但股東還應該詢問管理層的薪酬政策是否合理。對CEO薪酬的簡要分析表明它們是合理的。與奧托立夫類似大小、市值在40億美元至120億美元之間的公司CEO的中位數總薪酬約爲840萬美元。奧托立夫的CEO在2023年12月前的一年裏獲得了總薪酬400萬美元。顯然,這比平均水平要低得多,因此一眼看去,這個安排似乎對股東慷慨,並指向一個適度的報酬文化。CEO薪酬水平並不是投資者最重要的指標,但當薪酬較爲適度時,這確實支持CEO和普通股東之間的巨大一致性。這也可以是廣義上誠信文化的標誌。
There's always the possibility of doing well buying stocks that are not growing earnings and do not have insiders buying shares. But for those who consider these important metrics, we encourage you to check out companies that do have those features. You can access a tailored list of companies which have demonstrated growth backed by significant insider holdings.
總是有可能買入未增長收益並且內部人員不買入股票的股票表現良好。但是對於那些認爲這些重要指數的人,我們鼓勵您查看具有這些功能的公司。您可以訪問定製列表,其中列出了已經展示出增長並得到內幕人員認可的公司。
Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.
請注意,本文討論的內部交易是指在相關司法管轄區中報告的交易。
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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。