INNOVATE (NYSE:VATE) Shareholders Are up 99% This Past Week, but Still in the Red Over the Last Three Years
INNOVATE (NYSE:VATE) Shareholders Are up 99% This Past Week, but Still in the Red Over the Last Three Years
INNOVATE Corp. (NYSE:VATE) has rebounded strongly over the last week, with the share price soaring 99%. But that doesn't change the fact that the returns over the last three years have been stomach churning. Indeed, the share price is down a whopping 75% in the last three years. Arguably, the recent bounce is to be expected after such a bad drop. Of course the real question is whether the business can sustain a turnaround.
INNOVATE公司(紐交所:VATE)在過去一週強勁反彈,股價飆升99%。但這並不能改變過去三年的收益讓人感到不安的事實。實際上,股價在過去三年中下跌了驚人的75%。可以說,經歷如此嚴重的下跌後,近期的反彈是可以預見的。當然,真正的問題是業務能否維持扭轉局面。
While the last three years has been tough for INNOVATE shareholders, this past week has shown signs of promise. So let's look at the longer term fundamentals and see if they've been the driver of the negative returns.
雖然過去三年對INNOVATE的股東來說一直很艱難,但過去一週卻顯現出一些希望的跡象。我們來看一下長期的基本面,看看這些是否是負收益的驅動因素。
Because INNOVATE made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. Shareholders of unprofitable companies usually desire strong revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size.
由於INNOVATE在過去十二個月中出現了虧損,我們認爲市場可能更關注營業收入和營業收入增長,至少現在是這樣。虧損公司的股東通常希望有強勁的營業收入增長。這是因爲快速的營業收入增長可以很容易地推斷出可觀的利潤。
Over three years, INNOVATE grew revenue at 1.9% per year. That's not a very high growth rate considering it doesn't make profits. Nonetheless, it's fair to say the rapidly declining share price (down 20%, compound, over three years) suggests the market is very disappointed with this level of growth. While we're definitely wary of the stock, after that kind of performance, it could be an over-reaction. Of course, revenue growth is nice but generally speaking the lower the profits, the riskier the business - and this business isn't making steady profits.
在三年內,INNOVATE的營業收入年增長率爲1.9%。考慮到它未能盈利,這並不是一個很高的增長率。儘管如此,可以公平地說,快速下降的股價(在三年內下跌20%,複合)表明市場對這種增長水平非常失望。儘管我們對該股票持謹慎態度,但在經歷那樣的表現後,這可能是過度反應。當然,營業收入增長是好的,但一般而言,利潤越少,業務的風險越大——而這個業務並沒有穩定盈利。
You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).
您可以在下面看到盈利和營業收入隨時間的變化(通過點擊圖片發現確切值)。
We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. This free interactive report on INNOVATE's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
我們認爲,內部人士在過去一年中進行了大量購入是積極的。不過,未來的盈利對當前股東是否賺錢更爲重要。如果你想進一步調查這隻股票,這份關於INNOVATE的盈利、營業收入和現金流的免費互動報告是個良好的起點。
A Different Perspective
不同的視角
Investors in INNOVATE had a tough year, with a total loss of 7.6%, against a market gain of about 26%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Unfortunately, longer term shareholders are suffering worse, given the loss of 11% doled out over the last five years. We'd need to see some sustained improvements in the key metrics before we could muster much enthusiasm. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For example, we've discovered 4 warning signs for INNOVATE (3 shouldn't be ignored!) that you should be aware of before investing here.
INNOVATE的投資者在過去一年中經歷了艱難的時光,總損失爲7.6%,而市場的收益約爲26%。即使是好的股票的股價有時也會下跌,但在我們對一項業務產生太多興趣之前,我們希望看到基本指標的改善。不幸的是,長期股東的損失更爲嚴重,在過去五年中損失了11%。我們需要看到關鍵指標的持續改善,才能激起更多的熱情。雖然考慮市場條件對股價的不同影響是非常值得的,但還有其他因素更爲重要。例如,我們發現INNOVATE有4個警告信號(3個不能忽視!),在這裏投資之前你應該了解這些。
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.
還有很多其他公司內部人士正在買入股票。你可能不想錯過這份內部人士正在購買的被低估的小盤公司的免費名單。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
請注意,本文中引用的市場回報反映了當前在美國交易所上市股票的市場加權平均回報。
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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.
對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall ST在提到的任何股票中均沒有持倉。
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