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There May Be Some Bright Spots In Landstar System's (NASDAQ:LSTR) Earnings

There May Be Some Bright Spots In Landstar System's (NASDAQ:LSTR) Earnings

Landstar System(納斯達克股票代碼:LSTR)的收益可能有一些亮點
Simply Wall St ·  05/11 08:54

Soft earnings didn't appear to concern Landstar System, Inc.'s (NASDAQ:LSTR) shareholders over the last week. We did some digging, and we believe the earnings are stronger than they seem.

疲軟的收益似乎與Landstar System, Inc.無關。”s(納斯達克股票代碼:LSTR)的股東上週的走勢。我們進行了一些挖掘,我們認爲收益比看起來要強勁。

earnings-and-revenue-history
NasdaqGS:LSTR Earnings and Revenue History May 11th 2024
NASDAQGS: LSTR 收益和收入歷史記錄 2024 年 5 月 11 日

Zooming In On Landstar System's Earnings

放大Landstar System的收益

One key financial ratio used to measure how well a company converts its profit to free cash flow (FCF) is the accrual ratio. To get the accrual ratio we first subtract FCF from profit for a period, and then divide that number by the average operating assets for the period. The ratio shows us how much a company's profit exceeds its FCF.

用於衡量公司將其利潤轉化爲自由現金流(FCF)的效果的一個關鍵財務比率是應計比率。爲了獲得應計比率,我們首先從一段時間內的利潤中減去FCF,然後將該數字除以該期間的平均運營資產。該比率向我們顯示了公司的利潤超過其FCF的程度。

Therefore, it's actually considered a good thing when a company has a negative accrual ratio, but a bad thing if its accrual ratio is positive. While it's not a problem to have a positive accrual ratio, indicating a certain level of non-cash profits, a high accrual ratio is arguably a bad thing, because it indicates paper profits are not matched by cash flow. That's because some academic studies have suggested that high accruals ratios tend to lead to lower profit or less profit growth.

因此,當公司的應計比率爲負時,這實際上被認爲是一件好事,但是如果應計比率爲正,則被認爲是一件壞事。儘管應計比率爲正(表明非現金利潤達到一定水平)不是問題,但高應計比率可以說是一件壞事,因爲它表明紙質利潤與現金流不匹配。那是因爲一些學術研究表明,高應計比率往往會導致利潤下降或利潤增長放緩。

Landstar System has an accrual ratio of -0.15 for the year to March 2024. 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$320m, well over the US$233.3m it reported in profit. Landstar System's free cash flow actually declined over the last year, which is disappointing, like non-biodegradable balloons.

截至2024年3月的一年中,Landstar System的應計比率爲-0.15。因此,其法定收入大大低於其自由現金流。事實上,在過去的十二個月中,它報告的自由現金流爲3.2億美元,遠遠超過其報告的利潤2.333億美元。去年,Landstar System的自由現金流實際上有所下降,這令人失望,就像不可生物降解的氣球一樣。

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 Landstar System's Profit Performance

我們對Landstar System利潤表現的看法

As we discussed above, Landstar System has perfectly satisfactory free cash flow relative to profit. Because of this, we think Landstar System's earnings potential is at least as good as it seems, and maybe even better! And on top of that, its earnings per share have grown at 8.2% per year over the last three years. 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. So while earnings quality is important, it's equally important to consider the risks facing Landstar System at this point in time. In terms of investment risks, we've identified 1 warning sign with Landstar System, and understanding this should be part of your investment process.

正如我們上面討論的那樣,Landstar System的自由現金流相對於利潤來說非常令人滿意。正因爲如此,我們認爲Landstar System的盈利潛力至少和看起來一樣好,甚至可能更好!最重要的是,在過去三年中,其每股收益以每年8.2%的速度增長。本文的目標是評估我們在多大程度上可以依靠法定收益來反映公司的潛力,但還有很多需要考慮的地方。因此,儘管收益質量很重要,但考慮Landstar System目前面臨的風險同樣重要。在投資風險方面,我們已經確定了Landstar System的1個警告信號,了解這應該是您投資過程的一部分。

Today we've zoomed in on a single data point to better understand the nature of Landstar System's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

今天,我們放大了單個數據點,以更好地了解Landstar System利潤的性質。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。有些人認爲高股本回報率是優質業務的好兆頭。因此,你可能希望看到這份免費收藏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。

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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根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。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,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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