Dell Technologies (NYSE: DELL) haisi yakajairwa tekinoroji stock, sezvinoratidzwa nenyaya yekuti stock ichiri kutengeserana zvakanaka pamusoro pe pre-denda mazinga.Dell anogona kunge asiri kukura pamwero wakafanana neayo etekinoroji, asi kambani iri kuita mibairo yakasimba yeGAAP uye iri kudzosera migove yayo yakachipa.Kukura zvishoma nezvishoma kungangove kwakanakisa mhedzisiro vanogona kutarisira kuenderera mberi, asi zvingave zvakakwana kururamisa yakakura kuwanda kwekuwedzera, pamwe chete nembiri-madhijitari anodzoka anogona kukwana kuita zvirinani-kupfuura-musika kudzoka.Sezvo kambani inobudisa mushumo wayo wemari musi weMuvhuro, Nov.
Dell iri 30% pazasi yayo-yese-nguva yakakwira yakatarwa kutanga kwegore rino, asi zvakadaro 80% pamusoro pe pre-denda mazinga.
Kuwanda kwekuita kwakasimba uku kwakakonzerwa nekufambira mberi kukuru kwakaitwa mukuderedza mutoro wechikwereti.Nguva yekupedzisira pandakatarisa DELL stock yaive muna Chikunguru pandakaikurudzira sekutenga nekuda kweiyo yakaderera mutengo-kusvika-muhoro.Iyo stock yakabva yadonha 11%, ichiita kukosha kwekutaura kuwedzere kukwezva.
Muchikamu chekupedzisira, mari yaDell yakawedzera 9% uye isiri-GAAP mari yekushandisa yakakwira 4%.Zvisinei, kukura kwose hakutauri nyaya yacho yose.The Customer Solutions Group (PC chikamu) yakatumira yakasimba 9% yekukura kwemari, asi pamusangano wekufona, Dell akacherekedza kuti nharaunda yakakura yakadzikira zvakanyanya kubva pakutaura kwekupedzisira muna Chivabvu, asi vakacherechedzawo kuti vakakwanisa kumisa Demand isina kusimba- zvinokanganisa maavhareji epamusoro ekutengesa mitengo uye kuvandudzwa kweketani mukubata kwezvinhu.Iyo Kambani haigone kubatsirikana kubva kune zvakadaro offset.
Dell akawana chikamu chemusika wePC mumakumi matatu nemana ekupedzisira makumi matatu nemasere uye parizvino anotungamira bhizinesi PC musika.
Zvikuru, Infrastructure Solutions Group yakakura nekukurumidza nekuda kwemahombekombe epamusoro muchikamu chebhizinesi ichi.
Kunyangwe Dell's CAGR ye6% chete kubva 2019, kambani yakakwanisa kudzikisa chikwereti chakazara nemadhora mazana matatu nemakumi matatu nemazana mana emadhora, zvichiunza kuwedzera kusvika ku1.7x chikwereti-ku-EBITDA.
manejimendi aita kuti kudzoserwa kwemari kune vagovani kuve chinhu chekutanga mukugova kwayo kukuru uye iri kubhadhara zvikamu zvekota uye kutengazve zvikamu.Iyo kambani yakatengazve madhora mazana matanhatu emamiriyoni emamiriyoni emadhora mukati mekota uye inotarisira kudzosera kusvika makumi matanhatu muzana emahara ekuyerera kwemari (zvichienderana neanosvika zana muzana emari yakashandurwa kuita mari yemahara) kudzokera kune vanogovana.
Tichitarisa kumberi, Dell anotarisira kuti mari yakazara inodonha 8% gore-pamusoro-gore, zvichiratidza kuenderera mberi kushoma uye kusakwanisa kumisa izvi nekuwedzera kwemutengo.Dell anotarisira kuti mihoro yega yega igadzikane gore-pamusoro-gore nekuda kwekukanganisa kwekutengwazve kwemugove uye mupiro wakakura kubva kune yambotaurwa yepamusoro-margin ISG bhizinesi unit.
Tichipihwa nhevedzano yekuodza mwoyo mihoro yetekinoroji, hazvishamise kuti vanoongorora vakadzikisa mihoro-yega-yega fungidziro yekota ichangoburwa, kunyangwe fungidziro yekubvumirana ichiri kuratidza mihoro isiri yeGAAP yekurudziro.
Vangangove vanogovanisa vanofanirwa kunzwisisa kuti Dell haasi kuzounza iyo 20% kusvika 30% mazinga ekukura akajairika kune tekinoroji stocks.Nekudaro, kusiyana neakajairwa tekinoroji masitoko, Dell anowana pasi peGAAP uye anotengesa pamadhijiti imwe chete mihoro yakawanda.
Management inotarisira mihoro-yega-yega kukura kwe6% pamusoro penguva refu zvichibva pakukura kwemari yepagore ye3% kusvika 4%.Migove iri kutengeserana pa6.3 nguva inowana, asi chinangwa chemanejimendi ndechekungodzosera kusvika makumi matanhatu muzana emuhoro kune vanogovana kuburikidza nezvikamu uye kugovana kutenga.Izvi zvinoreva kuti kudzoka kwemugovani kunosvika 9.5% uye fungidziro yekukura kwemari ye3% kusvika 4% inofanirwa kukwana kuunza madhiji maviri ekudzoka.Asi zviri kufungidzira kuti hakuna kuwanda kwakawanda, uye ndinofungidzira kuti masheya anofanirwa kudzokororwa nekufamba kwenguva sezvo kambani iri kuramba ichitenga migove nekumhanya kwakadai.Pamusoro pezvo, nekudzikisira muyero wechikwereti / EBITDA chiyero che1.5x, manejimendi anogona kuve nekushanduka-shanduka kushandisa mari isina kugoverwa kune zvimwe zvinangwa. Nepo manejimendi achiratidzika kunge akanyanya kutarisisa pakushandisa mari yakawandisa yeM&A, ndiri kutarisira kuti kune hukasha kutengwazve uye kuti M&A iitike chete mushure mekunge stock yawedzera kukosha. Nepo manejimendi achiratidzika kunge akanyanya kutarisisa pakushandisa mari yakawandisa yeM&A, ndiri kutarisira kuti kune hukasha kutengwazve uye kuti M&A iitike chete mushure mekunge stock yawedzera kukosha. Nepo manejimendi achiratidzika kunge akanyanya kutarisisa pakushandisa yakawandisa M&A mari, ini ndiri kutarisira kune hukasha share buybacks uye M&A inozongoitika mushure mekudzokororwa kwemasheya. Kunyange manejimendi achiratidzika kunge akanyanya kutarisisa pakushandisa mari yakawandisa yeM&A, ini ndinotarisira kutenga zvine hukasha uye M&A chete mushure mekunge masheya akwira kumusoro.Ndinoona zvisingaite kuti kambani inotenga kudzoka inenge 6% yezvikamu zvayo pagore iri kutengesa nepurofiti ye6.3 nguva yainowana, uye maonero aya anowedzera zvakanyanya kana kambani ikatenga zvakare yakawanda se14% yezvikamu zvayo zvakasara pagore. .Ini ndaigona kuona masheya achidzoreredza pa10-12x pfuma, zvichireva kupfuura 60% kumusoro kwekugona kubva kune akawanda kuwedzera chete.Iyi yekuwedzera yaizoiisa padivi nemamwe makambani akasimbiswa tekinoroji akadai seCisco (CSCO) uye Oracle (ORCL).
Ndedzipi njodzi huru?Kutanga, kukura kungangodonha kunze kwe3% kusvika 4%.Makambani ari kukura zvishoma-shoma ave achitya kuti kukura kunozopedzisira kwapera uye kushanduka. Imwe njodzi ndeye kana manejimendi akasiya pepa remari kuti ripe M&A zvishuvo. Imwe njodzi ndeye kana manejimendi akasiya pepa remari kuti ripe M&A zvishuvo. Imwe njodzi ndeyekuti manejimendi achashandisa bharanzi kutsigira zvishuwo zveM&A. Imwe njodzi ndeyekuti manejimendi achashandisa bheji rayo kutsigira zvishuwo zveM&A. Ini ndinoona nzira inoenda kune yakawandisa re-reti seyakarerekera pane yakaderera uye ine hukasha chirongwa chekutengazve chikamu, asi chikwereti-chinosimudzira M&A chirongwa chaizoshanda chakapesana uye chinogona kukonzera kuti stock irambe ichitengesa kune yakaderedzwa akawanda. Ini ndinoona nzira inoenda kune yakawandisa re-reti seyakarerekera pane yakaderera uye ine hukasha chirongwa chekutengazve chikamu, asi chikwereti-chinosimudzira M&A chirongwa chaizoshanda chakapesana uye chinogona kukonzera kuti stock irambe ichitengesa kune yakaderedzwa akawanda. Ini ndinoona nzira inoenda kune yakawandisa rating ongororo seinotsamira pane yakaderera leverage uye ane hukasha share share buyback chirongwa, asi chikwereti chinotungamirwa neM&A chirongwa chaizoshanda kune chakapesana uye pamwe kumanikidza masheya kuti aenderere mberi nekutengesa pamutengo wakapetwa. Ini ndinofunga nzira yekuwongorora mareti akawanda inotsamira padanho rakaderera uye ine hukasha dhizaini yekutenga chirongwa, asi chikwereti-chakavakirwa M&A chirongwa chingave nemhedzisiro uye chinogona kuchengetedza kutengeserana kwemasheya pamutengo wakaderera.Zvakakoshawo kutaura kuti njodzi ye "kutora" yakambovapo.Kunyanya, pane njodzi yekuti mutengo wemugove uchadonha uye mukuru weDell achaedza kutenga migove nemutengo wakaderera, vanoodza mwoyo vagovani vakatenga nemutengo wakakwira.
Ndichiri kutenda kuti migove yeDELL inofanirwa kutengwa pamberi pekuparara kwetekinoroji, kunyangwe njodzi dziri pamusoro dzichidzichengeta.
Kukura kwemasheya kwakadonha.Paunoitenga, migwagwa yakazara neropa uye hapana anoda kuitenga.Ini ndakapa Best of Breed Growth Stocks vanyoreri neTech Crash 2022 runyorwa, uye heino runyorwa rwangu rwekutenga panguva yekuparara kwetekinoroji.
Julian Lin muongorori mukuru wezvemari.Julian Lin anomhanya Zvakanakisisa Zvekubereka Kukura Kwemasheya, sevhisi yekutsvagisa inofumura zvitendero zvepamusoro zvevachakunda mune ramangwana.
kuburitsa: Ini / isu tine purofiti refu chinzvimbo muDELL stock kuburikidza nemuridzi wemasheya, sarudzo kana zvimwe zvinobva.Nyaya iyi yakanyorwa neni uye inotaura maonero angu.Ini handina kuwana muripo (kunze kweKutsvaga Alpha).Ini handina hukama hwebhizinesi nechero yemakambani akanyorwa muchinyorwa chino.
Nguva yekutumira: Nov-18-2022