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Here's Why We Think Loews (NYSE:L) Might Deserve Your Attention Today

Here's Why We Think Loews (NYSE:L) Might Deserve Your Attention Today

这就是我们认为洛伊斯(纽约证券交易所代码:L)今天可能值得你关注的原因
Simply Wall St ·  05/30 09:09

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. But the reality is that when a company loses money each year, for long enough, its investors will usually take their share of those losses. Loss-making companies are always racing against time to reach financial sustainability, so investors in these companies may be taking on more risk than they should.

投资者通常以发现 “下一件大事” 的想法为指导,即使这意味着在没有任何收入的情况下购买 “故事股票”,更不用说获利了。但现实是,当一家公司每年亏损时,在足够长的时间内,其投资者通常会从亏损中分担自己的份额。亏损的公司总是与时间赛跑以实现财务可持续性,因此这些公司的投资者承担的风险可能超出了应有的范围。

Despite being in the age of tech-stock blue-sky investing, many investors still adopt a more traditional strategy; buying shares in profitable companies like Loews (NYSE:L). Even if this company is fairly valued by the market, investors would agree that generating consistent profits will continue to provide Loews with the means to add long-term value to shareholders.

尽管处于科技股蓝天投资时代,但许多投资者仍然采用更传统的策略:购买Loews(纽约证券交易所代码:L)等盈利公司的股票。即使市场对这家公司进行了合理的估值,投资者也会同意,创造稳定的利润将继续为洛伊斯提供为股东增加长期价值的手段。

How Quickly Is Loews Increasing Earnings Per Share?

Loews 增加每股收益的速度有多快?

If you believe that markets are even vaguely efficient, then over the long term you'd expect a company's share price to follow its earnings per share (EPS) outcomes. That means EPS growth is considered a real positive by most successful long-term investors. Over the last three years, Loews has grown EPS by 17% per year. That's a pretty good rate, if the company can sustain it.

如果你认为市场的效率甚至含糊不清,那么从长远来看,你预计公司的股价将遵循其每股收益(EPS)的结果。这意味着大多数成功的长期投资者认为每股收益增长确实是积极的。在过去的三年中,Loews的每股收益每年增长17%。如果公司能维持下去,这是一个相当不错的利率。

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. It's noted that Loews' revenue from operations was lower than its revenue in the last twelve months, so that could distort our analysis of its margins. Loews shareholders can take confidence from the fact that EBIT margins are up from 10% to 15%, and revenue is growing. Ticking those two boxes is a good sign of growth, in our book.

收入增长是可持续增长的重要指标,再加上较高的息税前收益(EBIT)利润率,这是公司保持市场竞争优势的好方法。值得注意的是,Loews的收入 来自运营 低于过去十二个月的收入,因此这可能会扭曲我们对其利润率的分析。Loews股东可以从息税前利润率从10%上升到15%,收入也在增长这一事实中获得信心。在我们的书中,勾选这两个方框是增长的好兆头。

In the chart below, you can see how the company has grown earnings and revenue, over time. For finer detail, click on the image.

在下图中,您可以看到公司如何随着时间的推移实现收益和收入的增长。要了解更多细节,请点击图片。

earnings-and-revenue-history
NYSE:L Earnings and Revenue History May 30th 2024
纽约证券交易所:L 收益和收入历史记录 2024 年 5 月 30 日

While profitability drives the upside, prudent investors always check the balance sheet, too.

虽然盈利能力推动了上行空间,但谨慎的投资者也总是会查看资产负债表。

Are Loews Insiders Aligned With All Shareholders?

Loews 内部人士是否与所有股东保持一致?

Since Loews has a market capitalisation of US$16b, we wouldn't expect insiders to hold a large percentage of shares. But we are reassured by the fact they have invested in the company. Indeed, they have a considerable amount of wealth invested in it, currently valued at US$2.8b. Coming in at 17% of the business, that holding gives insiders a lot of influence, and plenty of reason to generate value for shareholders. So there is opportunity here to invest in a company whose management have tangible incentives to deliver.

由于洛斯的市值为160亿美元,我们预计内部人士不会持有很大比例的股票。但是他们投资了该公司,这让我们感到放心。事实上,他们有大量财富投资于此,目前价值28亿美元。该控股占业务的17%,为内部人士提供了很大的影响力,也为股东创造价值提供了充足的理由。因此,这里有机会投资一家管理层有切实激励实现目标的公司。

It means a lot to see insiders invested in the business, but shareholders may be wondering if remuneration policies are in their best interest. Our quick analysis into CEO remuneration would seem to indicate they are. Our analysis has discovered that the median total compensation for the CEOs of companies like Loews, with market caps over US$8.0b, is about US$14m.

看到内部人士投资该业务意义重大,但股东们可能想知道薪酬政策是否符合他们的最大利益。我们对首席执行官薪酬的快速分析似乎表明确实如此。我们的分析发现,Loews等公司首席执行官的总薪酬中位数约为1400万美元,其市值超过80亿美元。

Loews' CEO took home a total compensation package worth US$6.9m in the year leading up to December 2023. That comes in below the average for similar sized companies and seems pretty reasonable. CEO compensation is hardly the most important aspect of a company to consider, but when it's reasonable, that gives a little more confidence that leadership are looking out for shareholder interests. It can also be a sign of a culture of integrity, in a broader sense.

在截至2023年12月的一年中,洛斯的首席执行官获得了价值690万美元的总薪酬待遇。这低于类似规模公司的平均水平,而且似乎相当合理。首席执行官薪酬并不是公司最需要考虑的方面,但如果合理,这可以增强领导层关注股东利益的信心。从更广泛的意义上讲,它也可以是诚信文化的标志。

Is Loews Worth Keeping An Eye On?

Loews 值得关注吗?

One important encouraging feature of Loews is that it is growing profits. The growth of EPS may be the eye-catching headline for Loews, but there's more to bring joy for shareholders. Boasting both modest CEO pay and considerable insider ownership, you'd argue this one is worthy of the watchlist, at least. Even so, be aware that Loews is showing 1 warning sign in our investment analysis , you should know about...

Loews的一个重要令人鼓舞的特点是利润不断增长。每股收益的增长可能是Loews引人注目的头条,但还有更多可以为股东带来欢乐的内容。你可能会认为这位首席执行官薪酬不高,内部所有权相当可观,至少值得列入关注名单。即便如此,请注意,Loews在我们的投资分析中显示了1个警告信号,您应该知道...

Although Loews certainly looks good, it may appeal to more investors if insiders were buying up shares. If you like to see companies with more skin in the game, then check out this handpicked selection of companies that not only boast of strong growth but have strong insider backing.

尽管洛斯看起来确实不错,但如果内部人士买入股票,它可能会吸引更多的投资者。如果你想看到拥有更多风险的公司,那么看看这些精心挑选的公司,这些公司不仅拥有强劲的增长,而且有强大的内部支持。

Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.

请注意,本文中讨论的内幕交易是指相关司法管辖区内应报告的交易。

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.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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