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Warrior388
2021-06-02
Very detail in analysis.
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Warrior388
2021-05-29
Goof
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Warrior388
2021-05-20
Great
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Warrior388
2021-05-20
Good article.
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Warrior388
2021-05-19
Nice
China's JD.com posts 39% rise in quarterly revenue
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article.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197683225","repostId":"2136955765","repostType":4,"isVote":1,"tweetType":1,"viewCount":225,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197810643,"gmtCreate":1621438842082,"gmtModify":1634189126640,"author":{"id":"3579087512632846","authorId":"3579087512632846","authorIdStr":"3579087512632846","name":"Warrior388","avatar":"https://static.tigerbbs.com/51833ad468f8a1ea4c6681fe3c76c453","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579087512632846"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197810643","repostId":"2136116599","repostType":4,"repost":{"id":"2136116599","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1621421801,"share":"https://www.laohu8.com/m/news/2136116599?lang=&edition=full","pubTime":"2021-05-19 18:56","market":"us","language":"en","title":"China's JD.com posts 39% rise in quarterly revenue","url":"https://stock-news.laohu8.com/highlight/detail?id=2136116599","media":"Tiger Newspress","summary":"Chinese e-commerce platform JD.com Inc reported a 39% rise in quarterly revenue on Wednesday, aided ","content":"<p>Chinese e-commerce platform JD.com Inc reported a 39% rise in quarterly revenue on Wednesday, aided by an expanded product line-up that helped lure in more users.</p><p>Net revenue at JD.com, China's largest e-commerce company by revenue, rose to 203.2 billion yuan ($31.57 billion) in the quarter ended March 31 from 146.2 billion yuan a year earlier. Analysts on average had expected revenue of 191.83 billion yuan, according to IBES data from Refinitiv.</p><p><img src=\"https://static.tigerbbs.com/fab4616b9116f62104b847dce7bfaa81\" tg-width=\"889\" tg-height=\"734\" referrerpolicy=\"no-referrer\"></p><p>The shares of JD.com jumped more than 1% from a drop in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/87d85727ae695bdaa5e19dd608c93902\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p><b>First Quarter 2021 Highlights</b></p><ul><li><b>Net revenues</b> for the first quarter of 2021 were RMB203.2 billion(US$131.0 billion), an increase of 39.0% from the first quarter of 2020. Net service revenues for the first quarter of 2021 were RMB27.9 billion(US$4.3 billion), an increase of 73.1% from the first quarter of 2020.</li><li><b>Income from operations</b> for the first quarter of 2021 was RMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year.<b>Non-GAAP2income from operations</b> for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared toRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7%<b>3</b>for the first quarter of 2020.</li><li><b>Net income</b> <b>attributable to ordinary shareholders</b> for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year.<b>Non-GAAP net income</b> <b>attributable to ordinary shareholders</b> for the first quarter of 2021 was RMB4.0 billion(US$0.6 billion), compared to RMB3.0 billionfor the same period last year.</li><li><b>Diluted net income per ADS</b> for the first quarter of 2021 was RMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020.<b>Non-GAAP diluted net income per ADS</b> for the first quarter of 2021 was RMB2.47(US$0.38), compared toRMB1.98for the same period last year.</li><li><b>Annual active customer accounts4</b> increased by 29.0% to 499.8 million in the twelve months ended March 31, 2021from 387.4 million in the twelve months endedMarch 31, 2020.</li></ul><p>“As we mark JD.com’s 18th anniversary, we are pleased to deliver another strong quarter of growth to kick off 2021,” saidRichard Liu, Chairman and Chief Executive Officer ofJD.com. “Since our establishment, JD’s focus on customers has set us apart and today we are proud that 500 million active users rely on JD’s broad selection of quality products and best-in-class customer services to support every aspect of their lives. JD is also increasingly the partner of choice for millions of businesses who benefit from our advanced supply-chain infrastructure to reduce costs and boost operating efficiency.”</p><p>“As our strong growth momentum from last year continued into the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from service revenues.” saidSandy Xu, Chief Financial Officer ofJD.com. “JD Retail’s operating margin further expanded during the quarter, as we continue to drive stronger operating leverage through technology and innovation.”</p><p><b><i>Business Highlights</i></b></p><p><b>Environment, Social and Governance</b></p><ul><li>JD.comreleased its first ESG report onApril 19thhighlighting the company’s long-term approach to ESG initiatives and corporate social responsibility. The report details JD.com’s vision of leveraging the digital supply chain to boost the real economy, improve efficiency and enhance environmentally friendly initiatives including green supply chain, green data centers and poverty alleviation.</li><li>As part of its commitment to poverty alleviation,JD.comhelped impoverished counties to market more than 3 million local commodities online.JD.comwill focus on rural digitalization to promote the sustainable development of rural areas in the future. With over 80% ofJD.comfront-line employees originally from rural areas,JD.comprovides sustainable employment opportunities and social insurance and housing fund for hundreds of thousands of employees throughout ruralChina.</li></ul><p><b>JD Retail</b></p><ul><li>JD.comandLouis Vuittonlaunched an innovative cooperation in April. The ground-breaking cooperation model connectsLouis Vuittondirectly with JD.com’s high-quality customers, providing them with access to the brand while further enhancing the luxury shopping experience onJD.com.</li><li>In the first quarter,JD.comhas started new partnerships with a wide spectrum of luxury brands.John Lobb, the luxury shoes and boots brand under Hermès Group, recently launched flagship stores onJD.com. Some brands went further to partner withJD.comin supply chain services. Italian brand Marni not only launched a flagship store onJD.com, but also adopted a customized one-stop solution offered byJD.com, covering marketing, technology, and supply chain management. With this service, customers can purchase directly from Marni’s inventory with the products delivered by JD Logistics.</li><li>In response to local authorities’ appeals to limit travel during this year’s Spring Festival, JD Retail collaborated with JD Logistics to provide non-stop delivery during Spring Festival for the ninth consecutive year and launched a series of initiatives for the JD New Year Shopping Festival. JD City-wide Shopping collaborated with JD Daojia (JDDJ) to coordinate inventory, logistics and employee resources in order to provide uninterrupted services during the Spring Festival holiday. Through cooperation with well-known chain retailers,JD.comprovided residents in more than 1,400 counties, districts and cities across the country with one-hour delivery service for products across all categories.JD.comalso upgraded the hassle-free shopping experience on its third-party platform, offering delivery time and price guarantees, free pickup for returns, as well as flash refunds.</li><li>During the first quarter, JD Home entered into strategic cooperation with Honor, Xiaomi, OPPO,OnePlus, realme, and other cellphone brands to collaborate on innovative omni-channel marketing initiatives, including in retail chain stores. JD Home has already achieved National Key Account (NKA) status with many major cellphone brands, supporting their omni-channel retail channels and the offline shopping experience. JD Home provides brands with additional channels to connect with customers and accelerate growth through omni-channel sales, user services, and event marketing.</li><li>JD.com’s recent announcement that it will increase its stake inDada Group(Dada) marks a tighter collaboration under the omni-channel strategy. Dada will have the full support ofJD.comand strategically undertake JD’s local on-demand retail and delivery businesses. Through this alignment,JD.comand Dada will be able to provide JD.com’s nearly 500 million annual active customers with superior customer services and enriched coverage in on-demand retail and delivery, and will accelerate the digital transformation of real economy enterprises.</li></ul><p><b>JD Health</b></p><ul><li>In February, JD Health announced the launch of theRare Diseases Care Project, under which it establishedJD Pharmacy Rare Diseases Care Centerand a dedicated fund for patients with rare diseases. In collaboration with partners from all relevant fields, the Project leverages JD Health’s supply chain capabilities and comprehensive healthcare offerings to create a one-stop solution for rare disease patients inChinaproviding financial assistance as well as ongoing support for diagnosis, treatment and access to medication.</li></ul><p><b>JD Logistics</b></p><ul><li>OnApril 17, JD Logistics andTencentSmart Retail jointly announced the launch ofJD-Tencent Cloud Warehouse. Integrated with JD Logistics cloud warehouse technologies, logistics platform and supply chain capabilities, as well asTencentSmart Retail's smart retailing analysis technology,JD-Tencent Cloud Warehouseprovides integrated solutions including business leads, branding and marketing as well as logistics services to merchants and warehousing companies, supporting areas including private traffic operations, traffic promotions, supply chains and logistics. Following its launch in 2017 to serve third-party warehouses and merchants,JD Cloud Warehousecan now leverage this partnership to serve new business models including social and live-streaming e-commerce, further opening JD Logistics’s integrated supply chain capabilities for diverse commercial use cases.</li><li>As ofMarch 31, 2021, JD Logistics operated over 1,000 warehouses, which covered an aggregate gross floor area of over 21 million square meters, including warehouse space of cloud warehouses managed under the JD Logistics Open Warehouse Platform.</li></ul><p><b>Other Highlights</b></p><ul><li>In May,Jingdong Digits Technology Holding Co., Ltd.(“JD Digits”) was officially renamed asJingdong Technology Holding Co., Ltd.(“JD Technology”). During the quarter endedMarch 31, 2021,JD.com, through a subsidiary, transferred JD Cloud & AI business and certain assets to JD Technology, in exchange for issuance of ordinary shares of JD Technology. Through this transaction, JD.com’s equity interest in JD Technology increased to approximately 42%. The company deconsolidated the operating results of JD Cloud & AI business upon the completion date of the transaction, which wasMarch 31, 2021.JD.comwill continue to focus on its core competences and synergistic businesses to better serve customers, and JD Technology will be better positioned to deliver a suite of cutting-edge technology services to its business partners.</li></ul><p><b>Operational Metrics Update</b></p><ul><li>As ofMarch 31, 2021,JD.comhad over 310,000 employees excluding part-time and interns.</li></ul><p><b>First Quarter 2021 Financial Results</b></p><p><b><i>Net Revenues.</i></b> For the first quarter of 2021,JD.comreported net revenues ofRMB203.2 billion(US$31.0 billion), representing a 39.0% increase from the same period in 2020. Net product revenues increased by 34.7%, while net service revenues increased by 73.1% for the first quarter of 2021, as compared to the same period of 2020.</p><p><b><i>Cost of Revenues</i></b><b>.</b>Cost of revenues increased by 40.7% toRMB174.1 billion(US$26.6 billion) for the first quarter of 2021 fromRMB123.7 billionfor the first quarter of 2020.</p><p><b><i>Fulfillment Expenses</i></b><b>.</b>Fulfillment expenses, which primarily include procurement, warehousing, delivery, customer service and payment processing expenses, increased by 32.7% toRMB13.8 billion(US$2.1 billion) for the first quarter of 2021 fromRMB10.4 billionfor the first quarter of 2020.</p><p><b><i>Marketing Expenses</i></b><b>.</b>Marketing expenses increased by 56.6% toRMB7.0 billion(US$1.1 billion) for the first quarter of 2021 fromRMB4.5 billionfor the first quarter of 2020.</p><p><b><i>Research and Development Expenses</i></b><b>.</b>Research and development expenses increased by 15.1% toRMB4.5 billion(US$0.7 billion) for the first quarter of 2021 fromRMB3.9 billionfor the first quarter of 2020.</p><p><b><i>General and Administrative Expenses</i></b><b>.</b> General and administrative expenses increased by 56.8% toRMB2.2 billion(US$0.3 billion) for the first quarter of 2021 fromRMB1.4 billionfor the first quarter of 2020. The increase was primarily due to the increase in share-based compensation expenses in relation to JD Health’s and JD Logistics’s share incentive plans.</p><p><b><i>Income from Operations and Non-GAAP Income from Operations.</i></b>Income from operations for the first quarter of 2021 wasRMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year. Non-GAAP income from operations for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared to non-GAAP income from operations ofRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7% for the first quarter of 2020.</p><p><b><i>Non-GAAP EBITDA</i></b>for the first quarter of 2021 wasRMB4.9 billion(US$0.8 billion), compared toRMB4.5 billionfor the first quarter of 2020.</p><p><b><i>Share of Results of Equity Investees.</i></b> In the first quarter of 2021, share of results of equity investees was an income ofRMB0.7 billion(US$0.1 billion), which was mainly contributed by JD Technology. In the first quarter of 2020, share of results of equity investees was a loss ofRMB1.1 billion, which was mainly resulted fromJiangsu Five Star, Dada and Yixin.</p><p><b><i>Net Income</i></b> <b><i>Attributable to Ordinary Shareholdersand Non-GAAP Net IncomeAttributable to Ordinary Shareholders.</i></b>Net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year. Non-GAAP net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB4.0 billion(US$0.6 billion), compared toRMB3.0 billionfor the same period last year.</p><p><b><i>Diluted EPS and Non-GAAP Diluted EPS.</i></b>Diluted net income per ADS for the first quarter of 2021 wasRMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020. Non-GAAP diluted net income per ADS for the first quarter of 2021 wasRMB2.47(US$0.38), compared toRMB1.98for the first quarter of 2020.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's JD.com posts 39% rise in quarterly revenue</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's JD.com posts 39% rise in quarterly revenue\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-05-19 18:56</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Chinese e-commerce platform JD.com Inc reported a 39% rise in quarterly revenue on Wednesday, aided by an expanded product line-up that helped lure in more users.</p><p>Net revenue at JD.com, China's largest e-commerce company by revenue, rose to 203.2 billion yuan ($31.57 billion) in the quarter ended March 31 from 146.2 billion yuan a year earlier. Analysts on average had expected revenue of 191.83 billion yuan, according to IBES data from Refinitiv.</p><p><img src=\"https://static.tigerbbs.com/fab4616b9116f62104b847dce7bfaa81\" tg-width=\"889\" tg-height=\"734\" referrerpolicy=\"no-referrer\"></p><p>The shares of JD.com jumped more than 1% from a drop in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/87d85727ae695bdaa5e19dd608c93902\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p><b>First Quarter 2021 Highlights</b></p><ul><li><b>Net revenues</b> for the first quarter of 2021 were RMB203.2 billion(US$131.0 billion), an increase of 39.0% from the first quarter of 2020. Net service revenues for the first quarter of 2021 were RMB27.9 billion(US$4.3 billion), an increase of 73.1% from the first quarter of 2020.</li><li><b>Income from operations</b> for the first quarter of 2021 was RMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year.<b>Non-GAAP2income from operations</b> for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared toRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7%<b>3</b>for the first quarter of 2020.</li><li><b>Net income</b> <b>attributable to ordinary shareholders</b> for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year.<b>Non-GAAP net income</b> <b>attributable to ordinary shareholders</b> for the first quarter of 2021 was RMB4.0 billion(US$0.6 billion), compared to RMB3.0 billionfor the same period last year.</li><li><b>Diluted net income per ADS</b> for the first quarter of 2021 was RMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020.<b>Non-GAAP diluted net income per ADS</b> for the first quarter of 2021 was RMB2.47(US$0.38), compared toRMB1.98for the same period last year.</li><li><b>Annual active customer accounts4</b> increased by 29.0% to 499.8 million in the twelve months ended March 31, 2021from 387.4 million in the twelve months endedMarch 31, 2020.</li></ul><p>“As we mark JD.com’s 18th anniversary, we are pleased to deliver another strong quarter of growth to kick off 2021,” saidRichard Liu, Chairman and Chief Executive Officer ofJD.com. “Since our establishment, JD’s focus on customers has set us apart and today we are proud that 500 million active users rely on JD’s broad selection of quality products and best-in-class customer services to support every aspect of their lives. JD is also increasingly the partner of choice for millions of businesses who benefit from our advanced supply-chain infrastructure to reduce costs and boost operating efficiency.”</p><p>“As our strong growth momentum from last year continued into the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from service revenues.” saidSandy Xu, Chief Financial Officer ofJD.com. “JD Retail’s operating margin further expanded during the quarter, as we continue to drive stronger operating leverage through technology and innovation.”</p><p><b><i>Business Highlights</i></b></p><p><b>Environment, Social and Governance</b></p><ul><li>JD.comreleased its first ESG report onApril 19thhighlighting the company’s long-term approach to ESG initiatives and corporate social responsibility. The report details JD.com’s vision of leveraging the digital supply chain to boost the real economy, improve efficiency and enhance environmentally friendly initiatives including green supply chain, green data centers and poverty alleviation.</li><li>As part of its commitment to poverty alleviation,JD.comhelped impoverished counties to market more than 3 million local commodities online.JD.comwill focus on rural digitalization to promote the sustainable development of rural areas in the future. With over 80% ofJD.comfront-line employees originally from rural areas,JD.comprovides sustainable employment opportunities and social insurance and housing fund for hundreds of thousands of employees throughout ruralChina.</li></ul><p><b>JD Retail</b></p><ul><li>JD.comandLouis Vuittonlaunched an innovative cooperation in April. The ground-breaking cooperation model connectsLouis Vuittondirectly with JD.com’s high-quality customers, providing them with access to the brand while further enhancing the luxury shopping experience onJD.com.</li><li>In the first quarter,JD.comhas started new partnerships with a wide spectrum of luxury brands.John Lobb, the luxury shoes and boots brand under Hermès Group, recently launched flagship stores onJD.com. Some brands went further to partner withJD.comin supply chain services. Italian brand Marni not only launched a flagship store onJD.com, but also adopted a customized one-stop solution offered byJD.com, covering marketing, technology, and supply chain management. With this service, customers can purchase directly from Marni’s inventory with the products delivered by JD Logistics.</li><li>In response to local authorities’ appeals to limit travel during this year’s Spring Festival, JD Retail collaborated with JD Logistics to provide non-stop delivery during Spring Festival for the ninth consecutive year and launched a series of initiatives for the JD New Year Shopping Festival. JD City-wide Shopping collaborated with JD Daojia (JDDJ) to coordinate inventory, logistics and employee resources in order to provide uninterrupted services during the Spring Festival holiday. Through cooperation with well-known chain retailers,JD.comprovided residents in more than 1,400 counties, districts and cities across the country with one-hour delivery service for products across all categories.JD.comalso upgraded the hassle-free shopping experience on its third-party platform, offering delivery time and price guarantees, free pickup for returns, as well as flash refunds.</li><li>During the first quarter, JD Home entered into strategic cooperation with Honor, Xiaomi, OPPO,OnePlus, realme, and other cellphone brands to collaborate on innovative omni-channel marketing initiatives, including in retail chain stores. JD Home has already achieved National Key Account (NKA) status with many major cellphone brands, supporting their omni-channel retail channels and the offline shopping experience. JD Home provides brands with additional channels to connect with customers and accelerate growth through omni-channel sales, user services, and event marketing.</li><li>JD.com’s recent announcement that it will increase its stake inDada Group(Dada) marks a tighter collaboration under the omni-channel strategy. Dada will have the full support ofJD.comand strategically undertake JD’s local on-demand retail and delivery businesses. Through this alignment,JD.comand Dada will be able to provide JD.com’s nearly 500 million annual active customers with superior customer services and enriched coverage in on-demand retail and delivery, and will accelerate the digital transformation of real economy enterprises.</li></ul><p><b>JD Health</b></p><ul><li>In February, JD Health announced the launch of theRare Diseases Care Project, under which it establishedJD Pharmacy Rare Diseases Care Centerand a dedicated fund for patients with rare diseases. In collaboration with partners from all relevant fields, the Project leverages JD Health’s supply chain capabilities and comprehensive healthcare offerings to create a one-stop solution for rare disease patients inChinaproviding financial assistance as well as ongoing support for diagnosis, treatment and access to medication.</li></ul><p><b>JD Logistics</b></p><ul><li>OnApril 17, JD Logistics andTencentSmart Retail jointly announced the launch ofJD-Tencent Cloud Warehouse. Integrated with JD Logistics cloud warehouse technologies, logistics platform and supply chain capabilities, as well asTencentSmart Retail's smart retailing analysis technology,JD-Tencent Cloud Warehouseprovides integrated solutions including business leads, branding and marketing as well as logistics services to merchants and warehousing companies, supporting areas including private traffic operations, traffic promotions, supply chains and logistics. Following its launch in 2017 to serve third-party warehouses and merchants,JD Cloud Warehousecan now leverage this partnership to serve new business models including social and live-streaming e-commerce, further opening JD Logistics’s integrated supply chain capabilities for diverse commercial use cases.</li><li>As ofMarch 31, 2021, JD Logistics operated over 1,000 warehouses, which covered an aggregate gross floor area of over 21 million square meters, including warehouse space of cloud warehouses managed under the JD Logistics Open Warehouse Platform.</li></ul><p><b>Other Highlights</b></p><ul><li>In May,Jingdong Digits Technology Holding Co., Ltd.(“JD Digits”) was officially renamed asJingdong Technology Holding Co., Ltd.(“JD Technology”). During the quarter endedMarch 31, 2021,JD.com, through a subsidiary, transferred JD Cloud & AI business and certain assets to JD Technology, in exchange for issuance of ordinary shares of JD Technology. Through this transaction, JD.com’s equity interest in JD Technology increased to approximately 42%. The company deconsolidated the operating results of JD Cloud & AI business upon the completion date of the transaction, which wasMarch 31, 2021.JD.comwill continue to focus on its core competences and synergistic businesses to better serve customers, and JD Technology will be better positioned to deliver a suite of cutting-edge technology services to its business partners.</li></ul><p><b>Operational Metrics Update</b></p><ul><li>As ofMarch 31, 2021,JD.comhad over 310,000 employees excluding part-time and interns.</li></ul><p><b>First Quarter 2021 Financial Results</b></p><p><b><i>Net Revenues.</i></b> For the first quarter of 2021,JD.comreported net revenues ofRMB203.2 billion(US$31.0 billion), representing a 39.0% increase from the same period in 2020. Net product revenues increased by 34.7%, while net service revenues increased by 73.1% for the first quarter of 2021, as compared to the same period of 2020.</p><p><b><i>Cost of Revenues</i></b><b>.</b>Cost of revenues increased by 40.7% toRMB174.1 billion(US$26.6 billion) for the first quarter of 2021 fromRMB123.7 billionfor the first quarter of 2020.</p><p><b><i>Fulfillment Expenses</i></b><b>.</b>Fulfillment expenses, which primarily include procurement, warehousing, delivery, customer service and payment processing expenses, increased by 32.7% toRMB13.8 billion(US$2.1 billion) for the first quarter of 2021 fromRMB10.4 billionfor the first quarter of 2020.</p><p><b><i>Marketing Expenses</i></b><b>.</b>Marketing expenses increased by 56.6% toRMB7.0 billion(US$1.1 billion) for the first quarter of 2021 fromRMB4.5 billionfor the first quarter of 2020.</p><p><b><i>Research and Development Expenses</i></b><b>.</b>Research and development expenses increased by 15.1% toRMB4.5 billion(US$0.7 billion) for the first quarter of 2021 fromRMB3.9 billionfor the first quarter of 2020.</p><p><b><i>General and Administrative Expenses</i></b><b>.</b> General and administrative expenses increased by 56.8% toRMB2.2 billion(US$0.3 billion) for the first quarter of 2021 fromRMB1.4 billionfor the first quarter of 2020. The increase was primarily due to the increase in share-based compensation expenses in relation to JD Health’s and JD Logistics’s share incentive plans.</p><p><b><i>Income from Operations and Non-GAAP Income from Operations.</i></b>Income from operations for the first quarter of 2021 wasRMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year. Non-GAAP income from operations for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared to non-GAAP income from operations ofRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7% for the first quarter of 2020.</p><p><b><i>Non-GAAP EBITDA</i></b>for the first quarter of 2021 wasRMB4.9 billion(US$0.8 billion), compared toRMB4.5 billionfor the first quarter of 2020.</p><p><b><i>Share of Results of Equity Investees.</i></b> In the first quarter of 2021, share of results of equity investees was an income ofRMB0.7 billion(US$0.1 billion), which was mainly contributed by JD Technology. In the first quarter of 2020, share of results of equity investees was a loss ofRMB1.1 billion, which was mainly resulted fromJiangsu Five Star, Dada and Yixin.</p><p><b><i>Net Income</i></b> <b><i>Attributable to Ordinary Shareholdersand Non-GAAP Net IncomeAttributable to Ordinary Shareholders.</i></b>Net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year. Non-GAAP net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB4.0 billion(US$0.6 billion), compared toRMB3.0 billionfor the same period last year.</p><p><b><i>Diluted EPS and Non-GAAP Diluted EPS.</i></b>Diluted net income per ADS for the first quarter of 2021 wasRMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020. Non-GAAP diluted net income per ADS for the first quarter of 2021 wasRMB2.47(US$0.38), compared toRMB1.98for the first quarter of 2020.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JD":"京东","09618":"京东集团-SW"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136116599","content_text":"Chinese e-commerce platform JD.com Inc reported a 39% rise in quarterly revenue on Wednesday, aided by an expanded product line-up that helped lure in more users.Net revenue at JD.com, China's largest e-commerce company by revenue, rose to 203.2 billion yuan ($31.57 billion) in the quarter ended March 31 from 146.2 billion yuan a year earlier. Analysts on average had expected revenue of 191.83 billion yuan, according to IBES data from Refinitiv.The shares of JD.com jumped more than 1% from a drop in premarket trading.First Quarter 2021 HighlightsNet revenues for the first quarter of 2021 were RMB203.2 billion(US$131.0 billion), an increase of 39.0% from the first quarter of 2020. Net service revenues for the first quarter of 2021 were RMB27.9 billion(US$4.3 billion), an increase of 73.1% from the first quarter of 2020.Income from operations for the first quarter of 2021 was RMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year.Non-GAAP2income from operations for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared toRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7%3for the first quarter of 2020.Net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year.Non-GAAP net income attributable to ordinary shareholders for the first quarter of 2021 was RMB4.0 billion(US$0.6 billion), compared to RMB3.0 billionfor the same period last year.Diluted net income per ADS for the first quarter of 2021 was RMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020.Non-GAAP diluted net income per ADS for the first quarter of 2021 was RMB2.47(US$0.38), compared toRMB1.98for the same period last year.Annual active customer accounts4 increased by 29.0% to 499.8 million in the twelve months ended March 31, 2021from 387.4 million in the twelve months endedMarch 31, 2020.“As we mark JD.com’s 18th anniversary, we are pleased to deliver another strong quarter of growth to kick off 2021,” saidRichard Liu, Chairman and Chief Executive Officer ofJD.com. “Since our establishment, JD’s focus on customers has set us apart and today we are proud that 500 million active users rely on JD’s broad selection of quality products and best-in-class customer services to support every aspect of their lives. JD is also increasingly the partner of choice for millions of businesses who benefit from our advanced supply-chain infrastructure to reduce costs and boost operating efficiency.”“As our strong growth momentum from last year continued into the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from service revenues.” saidSandy Xu, Chief Financial Officer ofJD.com. “JD Retail’s operating margin further expanded during the quarter, as we continue to drive stronger operating leverage through technology and innovation.”Business HighlightsEnvironment, Social and GovernanceJD.comreleased its first ESG report onApril 19thhighlighting the company’s long-term approach to ESG initiatives and corporate social responsibility. The report details JD.com’s vision of leveraging the digital supply chain to boost the real economy, improve efficiency and enhance environmentally friendly initiatives including green supply chain, green data centers and poverty alleviation.As part of its commitment to poverty alleviation,JD.comhelped impoverished counties to market more than 3 million local commodities online.JD.comwill focus on rural digitalization to promote the sustainable development of rural areas in the future. With over 80% ofJD.comfront-line employees originally from rural areas,JD.comprovides sustainable employment opportunities and social insurance and housing fund for hundreds of thousands of employees throughout ruralChina.JD RetailJD.comandLouis Vuittonlaunched an innovative cooperation in April. The ground-breaking cooperation model connectsLouis Vuittondirectly with JD.com’s high-quality customers, providing them with access to the brand while further enhancing the luxury shopping experience onJD.com.In the first quarter,JD.comhas started new partnerships with a wide spectrum of luxury brands.John Lobb, the luxury shoes and boots brand under Hermès Group, recently launched flagship stores onJD.com. Some brands went further to partner withJD.comin supply chain services. Italian brand Marni not only launched a flagship store onJD.com, but also adopted a customized one-stop solution offered byJD.com, covering marketing, technology, and supply chain management. With this service, customers can purchase directly from Marni’s inventory with the products delivered by JD Logistics.In response to local authorities’ appeals to limit travel during this year’s Spring Festival, JD Retail collaborated with JD Logistics to provide non-stop delivery during Spring Festival for the ninth consecutive year and launched a series of initiatives for the JD New Year Shopping Festival. JD City-wide Shopping collaborated with JD Daojia (JDDJ) to coordinate inventory, logistics and employee resources in order to provide uninterrupted services during the Spring Festival holiday. Through cooperation with well-known chain retailers,JD.comprovided residents in more than 1,400 counties, districts and cities across the country with one-hour delivery service for products across all categories.JD.comalso upgraded the hassle-free shopping experience on its third-party platform, offering delivery time and price guarantees, free pickup for returns, as well as flash refunds.During the first quarter, JD Home entered into strategic cooperation with Honor, Xiaomi, OPPO,OnePlus, realme, and other cellphone brands to collaborate on innovative omni-channel marketing initiatives, including in retail chain stores. JD Home has already achieved National Key Account (NKA) status with many major cellphone brands, supporting their omni-channel retail channels and the offline shopping experience. JD Home provides brands with additional channels to connect with customers and accelerate growth through omni-channel sales, user services, and event marketing.JD.com’s recent announcement that it will increase its stake inDada Group(Dada) marks a tighter collaboration under the omni-channel strategy. Dada will have the full support ofJD.comand strategically undertake JD’s local on-demand retail and delivery businesses. Through this alignment,JD.comand Dada will be able to provide JD.com’s nearly 500 million annual active customers with superior customer services and enriched coverage in on-demand retail and delivery, and will accelerate the digital transformation of real economy enterprises.JD HealthIn February, JD Health announced the launch of theRare Diseases Care Project, under which it establishedJD Pharmacy Rare Diseases Care Centerand a dedicated fund for patients with rare diseases. In collaboration with partners from all relevant fields, the Project leverages JD Health’s supply chain capabilities and comprehensive healthcare offerings to create a one-stop solution for rare disease patients inChinaproviding financial assistance as well as ongoing support for diagnosis, treatment and access to medication.JD LogisticsOnApril 17, JD Logistics andTencentSmart Retail jointly announced the launch ofJD-Tencent Cloud Warehouse. Integrated with JD Logistics cloud warehouse technologies, logistics platform and supply chain capabilities, as well asTencentSmart Retail's smart retailing analysis technology,JD-Tencent Cloud Warehouseprovides integrated solutions including business leads, branding and marketing as well as logistics services to merchants and warehousing companies, supporting areas including private traffic operations, traffic promotions, supply chains and logistics. Following its launch in 2017 to serve third-party warehouses and merchants,JD Cloud Warehousecan now leverage this partnership to serve new business models including social and live-streaming e-commerce, further opening JD Logistics’s integrated supply chain capabilities for diverse commercial use cases.As ofMarch 31, 2021, JD Logistics operated over 1,000 warehouses, which covered an aggregate gross floor area of over 21 million square meters, including warehouse space of cloud warehouses managed under the JD Logistics Open Warehouse Platform.Other HighlightsIn May,Jingdong Digits Technology Holding Co., Ltd.(“JD Digits”) was officially renamed asJingdong Technology Holding Co., Ltd.(“JD Technology”). During the quarter endedMarch 31, 2021,JD.com, through a subsidiary, transferred JD Cloud & AI business and certain assets to JD Technology, in exchange for issuance of ordinary shares of JD Technology. Through this transaction, JD.com’s equity interest in JD Technology increased to approximately 42%. The company deconsolidated the operating results of JD Cloud & AI business upon the completion date of the transaction, which wasMarch 31, 2021.JD.comwill continue to focus on its core competences and synergistic businesses to better serve customers, and JD Technology will be better positioned to deliver a suite of cutting-edge technology services to its business partners.Operational Metrics UpdateAs ofMarch 31, 2021,JD.comhad over 310,000 employees excluding part-time and interns.First Quarter 2021 Financial ResultsNet Revenues. For the first quarter of 2021,JD.comreported net revenues ofRMB203.2 billion(US$31.0 billion), representing a 39.0% increase from the same period in 2020. Net product revenues increased by 34.7%, while net service revenues increased by 73.1% for the first quarter of 2021, as compared to the same period of 2020.Cost of Revenues.Cost of revenues increased by 40.7% toRMB174.1 billion(US$26.6 billion) for the first quarter of 2021 fromRMB123.7 billionfor the first quarter of 2020.Fulfillment Expenses.Fulfillment expenses, which primarily include procurement, warehousing, delivery, customer service and payment processing expenses, increased by 32.7% toRMB13.8 billion(US$2.1 billion) for the first quarter of 2021 fromRMB10.4 billionfor the first quarter of 2020.Marketing Expenses.Marketing expenses increased by 56.6% toRMB7.0 billion(US$1.1 billion) for the first quarter of 2021 fromRMB4.5 billionfor the first quarter of 2020.Research and Development Expenses.Research and development expenses increased by 15.1% toRMB4.5 billion(US$0.7 billion) for the first quarter of 2021 fromRMB3.9 billionfor the first quarter of 2020.General and Administrative Expenses. General and administrative expenses increased by 56.8% toRMB2.2 billion(US$0.3 billion) for the first quarter of 2021 fromRMB1.4 billionfor the first quarter of 2020. The increase was primarily due to the increase in share-based compensation expenses in relation to JD Health’s and JD Logistics’s share incentive plans.Income from Operations and Non-GAAP Income from Operations.Income from operations for the first quarter of 2021 wasRMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year. Non-GAAP income from operations for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared to non-GAAP income from operations ofRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7% for the first quarter of 2020.Non-GAAP EBITDAfor the first quarter of 2021 wasRMB4.9 billion(US$0.8 billion), compared toRMB4.5 billionfor the first quarter of 2020.Share of Results of Equity Investees. In the first quarter of 2021, share of results of equity investees was an income ofRMB0.7 billion(US$0.1 billion), which was mainly contributed by JD Technology. In the first quarter of 2020, share of results of equity investees was a loss ofRMB1.1 billion, which was mainly resulted fromJiangsu Five Star, Dada and Yixin.Net Income Attributable to Ordinary Shareholdersand Non-GAAP Net IncomeAttributable to Ordinary Shareholders.Net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year. Non-GAAP net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB4.0 billion(US$0.6 billion), compared toRMB3.0 billionfor the same period last year.Diluted EPS and Non-GAAP Diluted EPS.Diluted net income per ADS for the first quarter of 2021 wasRMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020. Non-GAAP diluted net income per ADS for the first quarter of 2021 wasRMB2.47(US$0.38), compared toRMB1.98for the first quarter of 2020.","news_type":1},"isVote":1,"tweetType":1,"viewCount":277,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":113004242,"gmtCreate":1622579115286,"gmtModify":1634100361500,"author":{"id":"3579087512632846","authorId":"3579087512632846","authorIdStr":"3579087512632846","name":"Warrior388","avatar":"https://static.tigerbbs.com/51833ad468f8a1ea4c6681fe3c76c453","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579087512632846"},"themes":[],"htmlText":"Very detail in analysis.","listText":"Very detail in analysis.","text":"Very detail in analysis.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/113004242","repostId":"1105615218","repostType":2,"isVote":1,"tweetType":1,"viewCount":17,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134271057,"gmtCreate":1622245853779,"gmtModify":1634182561021,"author":{"id":"3579087512632846","authorId":"3579087512632846","authorIdStr":"3579087512632846","name":"Warrior388","avatar":"https://static.tigerbbs.com/51833ad468f8a1ea4c6681fe3c76c453","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579087512632846"},"themes":[],"htmlText":"Goof","listText":"Goof","text":"Goof","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/134271057","repostId":"2138493381","repostType":2,"isVote":1,"tweetType":1,"viewCount":84,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197666472,"gmtCreate":1621464762896,"gmtModify":1634189043340,"author":{"id":"3579087512632846","authorId":"3579087512632846","authorIdStr":"3579087512632846","name":"Warrior388","avatar":"https://static.tigerbbs.com/51833ad468f8a1ea4c6681fe3c76c453","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579087512632846"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197666472","repostId":"1129126046","repostType":2,"isVote":1,"tweetType":1,"viewCount":107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197683225,"gmtCreate":1621463887467,"gmtModify":1634189054385,"author":{"id":"3579087512632846","authorId":"3579087512632846","authorIdStr":"3579087512632846","name":"Warrior388","avatar":"https://static.tigerbbs.com/51833ad468f8a1ea4c6681fe3c76c453","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579087512632846"},"themes":[],"htmlText":"Good article.","listText":"Good article.","text":"Good article.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197683225","repostId":"2136955765","repostType":4,"repost":{"id":"2136955765","pubTimestamp":1621320795,"share":"https://www.laohu8.com/m/news/2136955765?lang=&edition=full","pubTime":"2021-05-18 14:53","market":"us","language":"en","title":"These growth companies may be primed for massive stock buybacks","url":"https://stock-news.laohu8.com/highlight/detail?id=2136955765","media":"MarketWatch","summary":"Free cash flow can highlight growth stocks that may be supported by share repurchases.\nApple is expe","content":"<p>Free cash flow can highlight growth stocks that may be supported by share repurchases.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ddd58c3c87423e3952362b6c9d60c20b\" tg-width=\"1260\" tg-height=\"839\"><span>Apple is expected by analysts to generate sufficient free cash flow in calendar 2021 to cover higher dividends or significant share buybacks. (AFP via Getty Images)</span></p>\n<p>Economists' projections for an incredible U.S. rebound in 2021 are coming true. In the stock market, this year may go down as \"the year of the buyback.\"</p>\n<p>In April, U.S. companies announced $208 billion in new buyback programs, the second-highest monthly amount .</p>\n<p>Net buybacks -- those large enough to lower the share count by mitigating the dilution caused when company boards of directors hand new shares to executives -- are important to investors because they increase earnings per share. Higher earnings per share, or EPS, typically support higher stock prices.</p>\n<p>Why are companies getting set to buy back so much stock? Because they curtailed capital deployment in 2020 to protect themselves from the disruption of the coronavirus pandemic.</p>\n<p>Now, during a rapid economy recovery, the U.S. money supply has increased dramatically, as the Federal Reserve has grown its balance sheet through bond purchases. Very low interest rates have also helped set the stage for buybacks.</p>\n<p>The largest U.S. banks were required by the Federal Reserve to stop buying back shares last June because of the pandemic. The group's capital ratios have increased and the Fed has announced that banks will be allowed to resume buybacks after June 30, when the regulator's annual stress tests have been completed.</p>\n<p><b>Best-positioned companies</b></p>\n<p>One way to measure a company's ability to deploy capital is to look at its free cash flow yield. This can be done on a trailing basis, but 2020 was a year of disruption, to say the least. So the following data is based on free cash flow projections for 2021 among analysts polled by FactSet.</p>\n<p>A company's free cash flow is its remaining cash flow after planned capital expenditures. It is money that can be used to repurchase shares, increase dividends or for other corporate purposes, including acquisitions or expansion.</p>\n<p>If we divide a company's estimated free cash flow per share by the current share price, we have an estimate of free cash flow yield. If we subtract the current dividend yield from the FCF yield, we have estimated \"headroom\" for capital deployment -- including buybacks and dividend increases.</p>\n<p>Free cash flow estimates aren't available for financial companies or for real estate investment trusts (REITs).</p>\n<p>Now that we know what to look for when trying to identify companies that are well-positioned to repurchase shares, it might also be interesting to narrow the field to \"growth\" companies -- those with typically more rapid sales and earnings growth.</p>\n<p>To review a group of growth stocks, we began this stock screen with the Vanguard Russell 1000 Growth Index ETF <a href=\"https://laohu8.com/S/VONG\">$(VONG)$</a>, which tracks the Russell 1000 Growth Index . (The <a href=\"https://laohu8.com/S/EEME\">iShares</a> Russell 1000 Growth ETF <a href=\"https://laohu8.com/S/IWF\">$(IWF)$</a> tracks the same index.) You can read how FTSE Russell describes the makeup of its indexes here .</p>\n<p>The Russell 1000 Growth Index is weighted by market capitalization. So the largest position of VONG is Apple Inc. <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, which makes up 10.5% of the portfolio. Using Apple as an example, analysts polled by FactSet estimate the company's free cash flow per share for calendar 2021 will be $5.61. (We're using the calendar year to keep the data uniform. Some companies, including Apple, have fiscal years that don't match the calendar.)</p>\n<p>If we divide Apple's projected calendar 2021 FCF by the closing share price of $127.45 on May 14, we have an estimated FCF yield of 4.40%. If we subtract the current dividend yield of 0.69% from the FCF yield, we have estimated \"headroom\" of 3.71%. Relative to the dividend yield, it appears Apple will have plenty of extra cash to deploy.</p>\n<p>Going back to the Russell 1000 Growth Index and excluding the financials and REITs, we're left with 437 companies and FactSet has calendar 2021 FCF estimates for 350 of them.</p>\n<p><b>Most 'headroom'</b></p>\n<p>Here are the 20 companies with the most free cash flow \"headroom,\" based on consensus estimates for calendar 2021.</p>\n<p>Note: Scroll the table to see all the data.</p>\n<table>\n <thead>\n <tr>\n <th>COMPANY</th>\n <th>TICKER</th>\n <th>ESTIMATED FREE CASH FLOW PER SHARE</th>\n <th>CLOSING PRICE - MAY 14</th>\n <th>ESTIMATED FCF YIELD</th>\n <th>DIVIDEND YIELD</th>\n <th>HEADROOM</th>\n <th>MARKET CAP. ($MIL)</th>\n </tr>\n </thead>\n <tbody>\n <tr>\n <td>Nexstar Media Group Inc. Class A</td>\n <td>NXST</td>\n <td>$26.71</td>\n <td>$150.90</td>\n <td>17.70%</td>\n <td>1.86%</td>\n <td>15.84%</td>\n <td>$6,450</td>\n </tr>\n <tr>\n <td>Moderna Inc.</td>\n <td>MRNA</td>\n <td>$23.35</td>\n <td>$161.38</td>\n <td>14.47%</td>\n <td>0.00%</td>\n <td>14.47%</td>\n <td>$64,799</td>\n </tr>\n <tr>\n <td>CommScope Holding Co. Inc.</td>\n <td>COMM</td>\n <td>$2.20</td>\n <td>$18.16</td>\n <td>12.11%</td>\n <td>0.00%</td>\n <td>12.11%</td>\n <td>$3,706</td>\n </tr>\n <tr>\n <td>Dell Technologies Inc. Class C</td>\n <td>DELL</td>\n <td>$11.66</td>\n <td>$98.43</td>\n <td>11.85%</td>\n <td>0.00%</td>\n <td>11.85%</td>\n <td>$27,322</td>\n </tr>\n <tr>\n <td>NRG Energy Inc.</td>\n <td>NRG</td>\n <td>$5.27</td>\n <td>$34.33</td>\n <td>15.35%</td>\n <td>3.79%</td>\n <td>11.57%</td>\n <td>$8,402</td>\n </tr>\n <tr>\n <td>McKesson Corp.</td>\n <td>MCK</td>\n <td>$23.95</td>\n <td>$195.00</td>\n <td>12.28%</td>\n <td>0.86%</td>\n <td>11.42%</td>\n <td>$30,846</td>\n </tr>\n <tr>\n <td>Liberty Media Corp. Series A Liberty SiriusXM</td>\n <td>LSXMA</td>\n <td>$4.63</td>\n <td>$41.72</td>\n <td>11.10%</td>\n <td>0.00%</td>\n <td>11.10%</td>\n <td>$4,103</td>\n </tr>\n <tr>\n <td>Liberty Media Corp. Series C Liberty SiriusXM</td>\n <td>LSXMK</td>\n <td>$4.63</td>\n <td>$41.78</td>\n <td>11.08%</td>\n <td>0.00%</td>\n <td>11.08%</td>\n <td>$9,502</td>\n </tr>\n <tr>\n <td>H&R Block Inc.</td>\n <td>HRB</td>\n <td>$3.51</td>\n <td>$24.55</td>\n <td>14.28%</td>\n <td>4.24%</td>\n <td>10.05%</td>\n <td>$4,454</td>\n </tr>\n <tr>\n <td>Berry Global Group Inc.</td>\n <td>BERY</td>\n <td>$6.93</td>\n <td>$69.19</td>\n <td>10.01%</td>\n <td>0.00%</td>\n <td>10.01%</td>\n <td>$9,334</td>\n </tr>\n <tr>\n <td>Cheniere Energy Inc.</td>\n <td>LNG</td>\n <td>$8.05</td>\n <td>$83.83</td>\n <td>9.60%</td>\n <td>0.00%</td>\n <td>9.60%</td>\n <td>$21,254</td>\n </tr>\n <tr>\n <td>Altice USA Inc. Class A</td>\n <td>ATUS</td>\n <td>$3.60</td>\n <td>$37.83</td>\n <td>9.51%</td>\n <td>0.00%</td>\n <td>9.51%</td>\n <td>$10,366</td>\n </tr>\n <tr>\n <td>Cardinal Health Inc.</td>\n <td>CAH</td>\n <td>$7.15</td>\n <td>$56.34</td>\n <td>12.70%</td>\n <td>3.45%</td>\n <td>9.25%</td>\n <td>$16,347</td>\n </tr>\n <tr>\n <td>CACI International Inc. Class A</td>\n <td>CACI</td>\n <td>$22.96</td>\n <td>$259.97</td>\n <td>8.83%</td>\n <td>0.00%</td>\n <td>8.83%</td>\n <td>$6,122</td>\n </tr>\n <tr>\n <td>Jabil Inc.</td>\n <td>JBL</td>\n <td>$4.86</td>\n <td>$53.94</td>\n <td>9.00%</td>\n <td>0.59%</td>\n <td>8.41%</td>\n <td>$8,026</td>\n </tr>\n <tr>\n <td>Biogen Inc.</td>\n <td>BIIB</td>\n <td>$23.40</td>\n <td>$280.21</td>\n <td>8.35%</td>\n <td>0.00%</td>\n <td>8.35%</td>\n <td>$42,187</td>\n </tr>\n <tr>\n <td>Centene Corp.</td>\n <td>CNC</td>\n <td>$5.34</td>\n <td>$69.20</td>\n <td>7.72%</td>\n <td>0.00%</td>\n <td>7.72%</td>\n <td>$40,325</td>\n </tr>\n <tr>\n <td>DaVita Inc.</td>\n <td>DVA</td>\n <td>$9.60</td>\n <td>$125.41</td>\n <td>7.65%</td>\n <td>0.00%</td>\n <td>7.65%</td>\n <td>$13,319</td>\n </tr>\n <tr>\n <td>Neurocrine Biosciences Inc.</td>\n <td>NBIX</td>\n <td>$7.20</td>\n <td>$94.60</td>\n <td>7.61%</td>\n <td>0.00%</td>\n <td>7.61%</td>\n <td>$8,944</td>\n </tr>\n <tr>\n <td>Bristol-Myers Squibb Co.</td>\n <td>BMY</td>\n <td>$6.85</td>\n <td>$64.88</td>\n <td>10.56%</td>\n <td>3.02%</td>\n <td>7.54%</td>\n <td>$144,937</td>\n </tr>\n <tr>\n <td>Laboratory Corp. of America Holdings</td>\n <td>LH</td>\n <td>$20.31</td>\n <td>$274.50</td>\n <td>7.40%</td>\n <td>0.00%</td>\n <td>7.40%</td>\n <td>$26,819</td>\n </tr>\n </tbody>\n</table>\n<p>(FactSet)</p>\n<p>There are actually 21 rows of data on the table, because it includes both <a href=\"https://laohu8.com/S/LSXMR\">Liberty Media Corp</a>.'s Series A <a href=\"https://laohu8.com/S/LSXMA\">$(LSXMA)$</a> and Series C shares for <a href=\"https://laohu8.com/S/LFG.AU\">Liberty</a> Sirius XM.</p>\n<ul>\n <li>The company with the highest expected FCF yield of 17.70% for calendar 2021 is Nexstar Media Group Inc.,which also has the highest projected headroom of 15.84%.</li>\n <li>Next is Moderna Inc.,which has had extraordinary success with its quick development and deployment of a COVID-19 vaccine. Its estimated FCF yield for 2021 is 14.47%, and that’s also its estimated headroom because it pays no dividend on common shares. To be sure, a growth-stage company providing such a critically important product that had to raise money by issuing shares less than a year ago cannot be expected to repurchase shares this year. This shows the limitation of any stock screen and the need to do your own research whenever you consider an investment.</li>\n <li>Next on the list is CommScope Holding Co. Inc.,with an estimated FCF yield of 12.11% for 2021. With no dividend, that’s also the expected headroom figure.</li>\n <li>Dell Technologies Inc. ranks fourth, with a FCF yield and expected headroom of 11.85%. This is another stock with no dividend currently.</li>\n <li>Fifth is NRG Energy, with an estimated FCF yield of 15.35%, a dividend yield of 3.79% and expected headroom of 11.57%.</li>\n</ul>\n<p><b>Largest companies</b></p>\n<p>If you scroll the above list to the right, you can see that 10 of the companies have market capitalizations of less than $10 billion. So here's a list of the largest 20 companies in the full list of 350. You can see that two very-well-known names have have little projected FCF headroom -- and there's a good reason for that.</p>\n<table>\n <thead>\n <tr>\n <th>COMPANY</th>\n <th>TICKER</th>\n <th>ESTIMATED FREE CASH FLOW PER SHARE</th>\n <th>CLOSING PRICE - MAY 14</th>\n <th>ESTIMATED FCF YIELD</th>\n <th>DIVIDEND YIELD</th>\n <th>HEADROOM</th>\n <th>MARKET CAP. ($MIL)</th>\n </tr>\n </thead>\n <tbody>\n <tr>\n <td>Apple Inc.</td>\n <td>AAPL</td>\n <td>$5.61</td>\n <td>$127.45</td>\n <td>4.40%</td>\n <td>0.69%</td>\n <td>3.71%</td>\n <td>$2,126,838</td>\n </tr>\n <tr>\n <td>Microsoft Corp.</td>\n <td>MSFT</td>\n <td>$7.74</td>\n <td>$248.15</td>\n <td>3.12%</td>\n <td>0.90%</td>\n <td>2.22%</td>\n <td>$1,868,960</td>\n </tr>\n <tr>\n <td>Amazon.com Inc.</td>\n <td>AMZN</td>\n <td>$71.13</td>\n <td>$3,222.90</td>\n <td>2.21%</td>\n <td>0.00%</td>\n <td>2.21%</td>\n <td>$1,625,385</td>\n </tr>\n <tr>\n <td>Facebook Inc. Class A</td>\n <td>FB</td>\n <td>$11.70</td>\n <td>$315.94</td>\n <td>3.70%</td>\n <td>0.00%</td>\n <td>3.70%</td>\n <td>$757,007</td>\n </tr>\n <tr>\n <td>Alphabet Inc. Class C</td>\n <td>GOOG</td>\n <td>$90.66</td>\n <td>$2,316.16</td>\n <td>3.91%</td>\n <td>0.00%</td>\n <td>3.91%</td>\n <td>$749,463</td>\n </tr>\n <tr>\n <td>Alphabet Inc. Class A</td>\n <td>GOOGL</td>\n <td>$90.66</td>\n <td>$2,278.38</td>\n <td>3.98%</td>\n <td>0.00%</td>\n <td>3.98%</td>\n <td>$685,216</td>\n </tr>\n <tr>\n <td>Tesla Inc.</td>\n <td>TSLA</td>\n <td>$1.46</td>\n <td>$589.74</td>\n <td>0.25%</td>\n <td>0.00%</td>\n <td>0.25%</td>\n <td>$568,114</td>\n </tr>\n <tr>\n <td>Johnson & Johnson</td>\n <td>JNJ</td>\n <td>$4.57</td>\n <td>$170.22</td>\n <td>2.68%</td>\n <td>2.49%</td>\n <td>0.19%</td>\n <td>$448,257</td>\n </tr>\n <tr>\n <td>UnitedHealth Group Inc.</td>\n <td>UNH</td>\n <td>$18.82</td>\n <td>$409.80</td>\n <td>4.59%</td>\n <td>1.22%</td>\n <td>3.37%</td>\n <td>$386,729</td>\n </tr>\n <tr>\n <td>Visa Inc. Class A</td>\n <td>V</td>\n <td>$6.37</td>\n <td>$226.94</td>\n <td>2.81%</td>\n <td>0.56%</td>\n <td>2.24%</td>\n <td>$383,938</td>\n </tr>\n <tr>\n <td>Mastercard Inc. Class A</td>\n <td>MA</td>\n <td>$7.51</td>\n <td>$363.91</td>\n <td>2.06%</td>\n <td>0.48%</td>\n <td>1.58%</td>\n <td>$357,689</td>\n </tr>\n <tr>\n <td>Nvidia Corp.</td>\n <td>NVDA</td>\n <td>$12.97</td>\n <td>$569.72</td>\n <td>2.28%</td>\n <td>0.11%</td>\n <td>2.16%</td>\n <td>$354,584</td>\n </tr>\n <tr>\n <td>Home Depot Inc.</td>\n <td>HD</td>\n <td>$14.46</td>\n <td>$323.63</td>\n <td>4.47%</td>\n <td>2.04%</td>\n <td>2.43%</td>\n <td>$347,975</td>\n </tr>\n <tr>\n <td>Procter & Gamble Co.</td>\n <td>PG</td>\n <td>$5.60</td>\n <td>$138.01</td>\n <td>4.06%</td>\n <td>2.52%</td>\n <td>1.54%</td>\n <td>$337,881</td>\n </tr>\n <tr>\n <td>PayPal Holdings Inc.</td>\n <td>PYPL</td>\n <td>$5.70</td>\n <td>$246.29</td>\n <td>2.31%</td>\n <td>0.00%</td>\n <td>2.31%</td>\n <td>$289,324</td>\n </tr>\n <tr>\n <td>Coca-Cola Co.</td>\n <td>KO</td>\n <td>$2.03</td>\n <td>$54.73</td>\n <td>3.71%</td>\n <td>3.07%</td>\n <td>0.64%</td>\n <td>$235,978</td>\n </tr>\n <tr>\n <td>Adobe Inc.</td>\n <td>ADBE</td>\n <td>$13.43</td>\n <td>$486.56</td>\n <td>2.76%</td>\n <td>0.00%</td>\n <td>2.76%</td>\n <td>$232,576</td>\n </tr>\n <tr>\n <td>Oracle Corp.</td>\n <td>ORCL</td>\n <td>$4.25</td>\n <td>$78.89</td>\n <td>5.39%</td>\n <td>1.62%</td>\n <td>3.77%</td>\n <td>$227,482</td>\n </tr>\n <tr>\n <td>Netflix Inc.</td>\n <td>NFLX</td>\n <td>$0.64</td>\n <td>$493.37</td>\n <td>0.13%</td>\n <td>0.00%</td>\n <td>0.13%</td>\n <td>$218,762</td>\n </tr>\n <tr>\n <td>Abbott Laboratories</td>\n <td>ABT</td>\n <td>$5.79</td>\n <td>$118.31</td>\n <td>4.89%</td>\n <td>1.52%</td>\n <td>3.37%</td>\n <td>$210,216</td>\n </tr>\n <tr>\n <td>AbbVie Inc.</td>\n <td>ABBV</td>\n <td>$10.54</td>\n <td>$116.43</td>\n <td>9.05%</td>\n <td>4.47%</td>\n <td>4.59%</td>\n <td>$205,641</td>\n </tr>\n </tbody>\n</table>\n<p>(FactSet)</p>\n<p>Once again, the list of 20 companies actually has 21 rows of data, because two share classes of Google holding company Alphabet Inc. <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL) are included. The company doesn't pay a dividend on either share class. The estimated yield and headroom are 3.91% for the Class C shares and 3.98% for the Class A shares.</p>\n<ul>\n <li>Following Apple, which is discussed above, the second-largest company on the list is Microsoft Corp.,with an estimated FCF yield of 3.12% and a dividend yield of 0.90%, leaving estimated headroom of 2.22%. That’s significantly lower than Apple’s estimated headroom of 3.71%.</li>\n <li>The company on the list with the lowest estimated FCF yield for 2021 is Netflix Inc.,which for years has plowed its cash flow into content creation. The company has turned a corner, with positive cash flow, and isset to resume buying back shares after a 10-year break.</li>\n <li>Second-lowest for estimated FCF headroom on the list is Tesla Inc.,which is also in a rapid-growth phase, with several factories under construction.</li>\n <li>Among the 20 largest companies listed, AbbVie Inc. has the highest estimated FCF headroom of 4.59%. Its estimated FCF yield for 2021 is 9.05% and its dividend yield is 4.47% — the highest for any company listed in this article.</li>\n</ul>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>These growth companies may be primed for massive stock buybacks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese growth companies may be primed for massive stock buybacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-18 14:53 GMT+8 <a href=https://www.marketwatch.com/story/these-growth-companies-may-be-primed-for-massive-stock-buybacks-11621265543?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Free cash flow can highlight growth stocks that may be supported by share repurchases.\nApple is expected by analysts to generate sufficient free cash flow in calendar 2021 to cover higher dividends or...</p>\n\n<a href=\"https://www.marketwatch.com/story/these-growth-companies-may-be-primed-for-massive-stock-buybacks-11621265543?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","NFLX":"奈飞","QNETCN":"纳斯达克中美互联网老虎指数","MSFT":"微软",".DJI":"道琼斯","AAPL":"苹果","MRNA":"Moderna, Inc."},"source_url":"https://www.marketwatch.com/story/these-growth-companies-may-be-primed-for-massive-stock-buybacks-11621265543?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136955765","content_text":"Free cash flow can highlight growth stocks that may be supported by share repurchases.\nApple is expected by analysts to generate sufficient free cash flow in calendar 2021 to cover higher dividends or significant share buybacks. (AFP via Getty Images)\nEconomists' projections for an incredible U.S. rebound in 2021 are coming true. In the stock market, this year may go down as \"the year of the buyback.\"\nIn April, U.S. companies announced $208 billion in new buyback programs, the second-highest monthly amount .\nNet buybacks -- those large enough to lower the share count by mitigating the dilution caused when company boards of directors hand new shares to executives -- are important to investors because they increase earnings per share. Higher earnings per share, or EPS, typically support higher stock prices.\nWhy are companies getting set to buy back so much stock? Because they curtailed capital deployment in 2020 to protect themselves from the disruption of the coronavirus pandemic.\nNow, during a rapid economy recovery, the U.S. money supply has increased dramatically, as the Federal Reserve has grown its balance sheet through bond purchases. Very low interest rates have also helped set the stage for buybacks.\nThe largest U.S. banks were required by the Federal Reserve to stop buying back shares last June because of the pandemic. The group's capital ratios have increased and the Fed has announced that banks will be allowed to resume buybacks after June 30, when the regulator's annual stress tests have been completed.\nBest-positioned companies\nOne way to measure a company's ability to deploy capital is to look at its free cash flow yield. This can be done on a trailing basis, but 2020 was a year of disruption, to say the least. So the following data is based on free cash flow projections for 2021 among analysts polled by FactSet.\nA company's free cash flow is its remaining cash flow after planned capital expenditures. It is money that can be used to repurchase shares, increase dividends or for other corporate purposes, including acquisitions or expansion.\nIf we divide a company's estimated free cash flow per share by the current share price, we have an estimate of free cash flow yield. If we subtract the current dividend yield from the FCF yield, we have estimated \"headroom\" for capital deployment -- including buybacks and dividend increases.\nFree cash flow estimates aren't available for financial companies or for real estate investment trusts (REITs).\nNow that we know what to look for when trying to identify companies that are well-positioned to repurchase shares, it might also be interesting to narrow the field to \"growth\" companies -- those with typically more rapid sales and earnings growth.\nTo review a group of growth stocks, we began this stock screen with the Vanguard Russell 1000 Growth Index ETF $(VONG)$, which tracks the Russell 1000 Growth Index . (The iShares Russell 1000 Growth ETF $(IWF)$ tracks the same index.) You can read how FTSE Russell describes the makeup of its indexes here .\nThe Russell 1000 Growth Index is weighted by market capitalization. So the largest position of VONG is Apple Inc. $(AAPL)$, which makes up 10.5% of the portfolio. Using Apple as an example, analysts polled by FactSet estimate the company's free cash flow per share for calendar 2021 will be $5.61. (We're using the calendar year to keep the data uniform. Some companies, including Apple, have fiscal years that don't match the calendar.)\nIf we divide Apple's projected calendar 2021 FCF by the closing share price of $127.45 on May 14, we have an estimated FCF yield of 4.40%. If we subtract the current dividend yield of 0.69% from the FCF yield, we have estimated \"headroom\" of 3.71%. Relative to the dividend yield, it appears Apple will have plenty of extra cash to deploy.\nGoing back to the Russell 1000 Growth Index and excluding the financials and REITs, we're left with 437 companies and FactSet has calendar 2021 FCF estimates for 350 of them.\nMost 'headroom'\nHere are the 20 companies with the most free cash flow \"headroom,\" based on consensus estimates for calendar 2021.\nNote: Scroll the table to see all the data.\n\n\n\nCOMPANY\nTICKER\nESTIMATED FREE CASH FLOW PER SHARE\nCLOSING PRICE - MAY 14\nESTIMATED FCF YIELD\nDIVIDEND YIELD\nHEADROOM\nMARKET CAP. ($MIL)\n\n\n\n\nNexstar Media Group Inc. Class A\nNXST\n$26.71\n$150.90\n17.70%\n1.86%\n15.84%\n$6,450\n\n\nModerna Inc.\nMRNA\n$23.35\n$161.38\n14.47%\n0.00%\n14.47%\n$64,799\n\n\nCommScope Holding Co. Inc.\nCOMM\n$2.20\n$18.16\n12.11%\n0.00%\n12.11%\n$3,706\n\n\nDell Technologies Inc. Class C\nDELL\n$11.66\n$98.43\n11.85%\n0.00%\n11.85%\n$27,322\n\n\nNRG Energy Inc.\nNRG\n$5.27\n$34.33\n15.35%\n3.79%\n11.57%\n$8,402\n\n\nMcKesson Corp.\nMCK\n$23.95\n$195.00\n12.28%\n0.86%\n11.42%\n$30,846\n\n\nLiberty Media Corp. Series A Liberty SiriusXM\nLSXMA\n$4.63\n$41.72\n11.10%\n0.00%\n11.10%\n$4,103\n\n\nLiberty Media Corp. Series C Liberty SiriusXM\nLSXMK\n$4.63\n$41.78\n11.08%\n0.00%\n11.08%\n$9,502\n\n\nH&R Block Inc.\nHRB\n$3.51\n$24.55\n14.28%\n4.24%\n10.05%\n$4,454\n\n\nBerry Global Group Inc.\nBERY\n$6.93\n$69.19\n10.01%\n0.00%\n10.01%\n$9,334\n\n\nCheniere Energy Inc.\nLNG\n$8.05\n$83.83\n9.60%\n0.00%\n9.60%\n$21,254\n\n\nAltice USA Inc. Class A\nATUS\n$3.60\n$37.83\n9.51%\n0.00%\n9.51%\n$10,366\n\n\nCardinal Health Inc.\nCAH\n$7.15\n$56.34\n12.70%\n3.45%\n9.25%\n$16,347\n\n\nCACI International Inc. Class A\nCACI\n$22.96\n$259.97\n8.83%\n0.00%\n8.83%\n$6,122\n\n\nJabil Inc.\nJBL\n$4.86\n$53.94\n9.00%\n0.59%\n8.41%\n$8,026\n\n\nBiogen Inc.\nBIIB\n$23.40\n$280.21\n8.35%\n0.00%\n8.35%\n$42,187\n\n\nCentene Corp.\nCNC\n$5.34\n$69.20\n7.72%\n0.00%\n7.72%\n$40,325\n\n\nDaVita Inc.\nDVA\n$9.60\n$125.41\n7.65%\n0.00%\n7.65%\n$13,319\n\n\nNeurocrine Biosciences Inc.\nNBIX\n$7.20\n$94.60\n7.61%\n0.00%\n7.61%\n$8,944\n\n\nBristol-Myers Squibb Co.\nBMY\n$6.85\n$64.88\n10.56%\n3.02%\n7.54%\n$144,937\n\n\nLaboratory Corp. of America Holdings\nLH\n$20.31\n$274.50\n7.40%\n0.00%\n7.40%\n$26,819\n\n\n\n(FactSet)\nThere are actually 21 rows of data on the table, because it includes both Liberty Media Corp.'s Series A $(LSXMA)$ and Series C shares for Liberty Sirius XM.\n\nThe company with the highest expected FCF yield of 17.70% for calendar 2021 is Nexstar Media Group Inc.,which also has the highest projected headroom of 15.84%.\nNext is Moderna Inc.,which has had extraordinary success with its quick development and deployment of a COVID-19 vaccine. Its estimated FCF yield for 2021 is 14.47%, and that’s also its estimated headroom because it pays no dividend on common shares. To be sure, a growth-stage company providing such a critically important product that had to raise money by issuing shares less than a year ago cannot be expected to repurchase shares this year. This shows the limitation of any stock screen and the need to do your own research whenever you consider an investment.\nNext on the list is CommScope Holding Co. Inc.,with an estimated FCF yield of 12.11% for 2021. With no dividend, that’s also the expected headroom figure.\nDell Technologies Inc. ranks fourth, with a FCF yield and expected headroom of 11.85%. This is another stock with no dividend currently.\nFifth is NRG Energy, with an estimated FCF yield of 15.35%, a dividend yield of 3.79% and expected headroom of 11.57%.\n\nLargest companies\nIf you scroll the above list to the right, you can see that 10 of the companies have market capitalizations of less than $10 billion. So here's a list of the largest 20 companies in the full list of 350. You can see that two very-well-known names have have little projected FCF headroom -- and there's a good reason for that.\n\n\n\nCOMPANY\nTICKER\nESTIMATED FREE CASH FLOW PER SHARE\nCLOSING PRICE - MAY 14\nESTIMATED FCF YIELD\nDIVIDEND YIELD\nHEADROOM\nMARKET CAP. ($MIL)\n\n\n\n\nApple Inc.\nAAPL\n$5.61\n$127.45\n4.40%\n0.69%\n3.71%\n$2,126,838\n\n\nMicrosoft Corp.\nMSFT\n$7.74\n$248.15\n3.12%\n0.90%\n2.22%\n$1,868,960\n\n\nAmazon.com Inc.\nAMZN\n$71.13\n$3,222.90\n2.21%\n0.00%\n2.21%\n$1,625,385\n\n\nFacebook Inc. Class A\nFB\n$11.70\n$315.94\n3.70%\n0.00%\n3.70%\n$757,007\n\n\nAlphabet Inc. Class C\nGOOG\n$90.66\n$2,316.16\n3.91%\n0.00%\n3.91%\n$749,463\n\n\nAlphabet Inc. Class A\nGOOGL\n$90.66\n$2,278.38\n3.98%\n0.00%\n3.98%\n$685,216\n\n\nTesla Inc.\nTSLA\n$1.46\n$589.74\n0.25%\n0.00%\n0.25%\n$568,114\n\n\nJohnson & Johnson\nJNJ\n$4.57\n$170.22\n2.68%\n2.49%\n0.19%\n$448,257\n\n\nUnitedHealth Group Inc.\nUNH\n$18.82\n$409.80\n4.59%\n1.22%\n3.37%\n$386,729\n\n\nVisa Inc. Class A\nV\n$6.37\n$226.94\n2.81%\n0.56%\n2.24%\n$383,938\n\n\nMastercard Inc. Class A\nMA\n$7.51\n$363.91\n2.06%\n0.48%\n1.58%\n$357,689\n\n\nNvidia Corp.\nNVDA\n$12.97\n$569.72\n2.28%\n0.11%\n2.16%\n$354,584\n\n\nHome Depot Inc.\nHD\n$14.46\n$323.63\n4.47%\n2.04%\n2.43%\n$347,975\n\n\nProcter & Gamble Co.\nPG\n$5.60\n$138.01\n4.06%\n2.52%\n1.54%\n$337,881\n\n\nPayPal Holdings Inc.\nPYPL\n$5.70\n$246.29\n2.31%\n0.00%\n2.31%\n$289,324\n\n\nCoca-Cola Co.\nKO\n$2.03\n$54.73\n3.71%\n3.07%\n0.64%\n$235,978\n\n\nAdobe Inc.\nADBE\n$13.43\n$486.56\n2.76%\n0.00%\n2.76%\n$232,576\n\n\nOracle Corp.\nORCL\n$4.25\n$78.89\n5.39%\n1.62%\n3.77%\n$227,482\n\n\nNetflix Inc.\nNFLX\n$0.64\n$493.37\n0.13%\n0.00%\n0.13%\n$218,762\n\n\nAbbott Laboratories\nABT\n$5.79\n$118.31\n4.89%\n1.52%\n3.37%\n$210,216\n\n\nAbbVie Inc.\nABBV\n$10.54\n$116.43\n9.05%\n4.47%\n4.59%\n$205,641\n\n\n\n(FactSet)\nOnce again, the list of 20 companies actually has 21 rows of data, because two share classes of Google holding company Alphabet Inc. $(GOOGL)$(GOOGL) are included. The company doesn't pay a dividend on either share class. The estimated yield and headroom are 3.91% for the Class C shares and 3.98% for the Class A shares.\n\nFollowing Apple, which is discussed above, the second-largest company on the list is Microsoft Corp.,with an estimated FCF yield of 3.12% and a dividend yield of 0.90%, leaving estimated headroom of 2.22%. That’s significantly lower than Apple’s estimated headroom of 3.71%.\nThe company on the list with the lowest estimated FCF yield for 2021 is Netflix Inc.,which for years has plowed its cash flow into content creation. The company has turned a corner, with positive cash flow, and isset to resume buying back shares after a 10-year break.\nSecond-lowest for estimated FCF headroom on the list is Tesla Inc.,which is also in a rapid-growth phase, with several factories under construction.\nAmong the 20 largest companies listed, AbbVie Inc. has the highest estimated FCF headroom of 4.59%. Its estimated FCF yield for 2021 is 9.05% and its dividend yield is 4.47% — the highest for any company listed in this article.","news_type":1},"isVote":1,"tweetType":1,"viewCount":225,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197810643,"gmtCreate":1621438842082,"gmtModify":1634189126640,"author":{"id":"3579087512632846","authorId":"3579087512632846","authorIdStr":"3579087512632846","name":"Warrior388","avatar":"https://static.tigerbbs.com/51833ad468f8a1ea4c6681fe3c76c453","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579087512632846"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197810643","repostId":"2136116599","repostType":4,"isVote":1,"tweetType":1,"viewCount":277,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
