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Jiangsu Tongguang Electronic Wire & Cable Co., Ltd.'s (SZSE:300265) Popularity With Investors Is Under Threat From Overpricing
Jiangsu Tongguang Electronic Wire & Cable Co., Ltd.'s (SZSE:300265) Popularity With Investors Is Under Threat From Overpricing
Jiangsu Tongguang Electronic Wire & Cable Co., Ltd.'s (SZSE:300265) price-to-earnings (or "P/E") ratio of 56.9x might make it look like a strong sell right now compared to the market in China, where around half of the companies have P/E ratios below 27x and even P/E's below 16x are quite common. However, the P/E might be quite high for a reason and it requires further investigation to determine if it's justified.
As an illustration, earnings have deteriorated at Jiangsu Tongguang Electronic Wire & Cable over the last year, which is not ideal at all. It might be that many expect the company to still outplay most other companies over the coming period, which has kept the P/E from collapsing. If not, then existing shareholders may be quite nervous about the viability of the share price.
See our latest analysis for Jiangsu Tongguang Electronic Wire & Cable
SZSE:300265 Price Based on Past Earnings April 29th 2022 We don't have analyst forecasts, but you can see how recent trends are setting up the company for the future by checking out our free report on Jiangsu Tongguang Electronic Wire & Cable's earnings, revenue and cash flow.Does Growth Match The High P/E?
Jiangsu Tongguang Electronic Wire & Cable's P/E ratio would be typical for a company that's expected to deliver very strong growth, and importantly, perform much better than the market.
Retrospectively, the last year delivered a frustrating 24% decrease to the company's bottom line. Regardless, EPS has managed to lift by a handy 12% in aggregate from three years ago, thanks to the earlier period of growth. Although it's been a bumpy ride, it's still fair to say the earnings growth recently has been mostly respectable for the company.
This is in contrast to the rest of the market, which is expected to grow by 35% over the next year, materially higher than the company's recent medium-term annualised growth rates.
In light of this, it's alarming that Jiangsu Tongguang Electronic Wire & Cable's P/E sits above the majority of other companies. Apparently many investors in the company are way more bullish than recent times would indicate and aren't willing to let go of their stock at any price. There's a good chance existing shareholders are setting themselves up for future disappointment if the P/E falls to levels more in line with recent growth rates.
The Key Takeaway
Using the price-to-earnings ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.
Our examination of Jiangsu Tongguang Electronic Wire & Cable revealed its three-year earnings trends aren't impacting its high P/E anywhere near as much as we would have predicted, given they look worse than current market expectations. Right now we are increasingly uncomfortable with the high P/E as this earnings performance isn't likely to support such positive sentiment for long. Unless the recent medium-term conditions improve markedly, it's very challenging to accept these prices as being reasonable.
Before you take the next step, you should know about the 3 warning signs for Jiangsu Tongguang Electronic Wire & Cable (1 is a bit unpleasant!) that we have uncovered.
If you're unsure about the strength of Jiangsu Tongguang Electronic Wire & Cable's business, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.
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.
Jiangsu Tongguang Electronic Wire & Cable Co., Ltd.'s (SZSE:300265) price-to-earnings (or "P/E") ratio of 56.9x might make it look like a strong sell right now compared to the market in China, where around half of the companies have P/E ratios below 27x and even P/E's below 16x are quite common. However, the P/E might be quite high for a reason and it requires further investigation to determine if it's justified.
江苏通广电子电线电缆有限公司(SZSE:300265)56.9倍的市盈率可能会让它看起来像是一个强劲的卖盘,相比中国市场,大约一半的公司的市盈率低于27倍,甚至低于16倍的市盈率也很常见。然而,市盈率可能相当高是有原因的,需要进一步调查才能确定它是否合理。
As an illustration, earnings have deteriorated at Jiangsu Tongguang Electronic Wire & Cable over the last year, which is not ideal at all. It might be that many expect the company to still outplay most other companies over the coming period, which has kept the P/E from collapsing. If not, then existing shareholders may be quite nervous about the viability of the share price.
举个例子,江苏通广电子电线电缆公司的盈利在过去一年里一直在恶化,这一点都不理想。许多人可能预计,该公司在未来一段时间内的表现仍将好于大多数其他公司,这使得市盈率没有崩溃。如果不是,那么现有股东可能会对股价的生存能力感到相当紧张。
See our latest analysis for Jiangsu Tongguang Electronic Wire & Cable
请看我们对江苏通广电子电线电缆的最新分析
Does Growth Match The High P/E?
增长是否与高市盈率相匹配?
Jiangsu Tongguang Electronic Wire & Cable's P/E ratio would be typical for a company that's expected to deliver very strong growth, and importantly, perform much better than the market.
对于一家有望实现非常强劲增长的公司来说,江苏铜光电子线缆的市盈率将是典型的,而且重要的是,它的表现远远好于市场。
Retrospectively, the last year delivered a frustrating 24% decrease to the company's bottom line. Regardless, EPS has managed to lift by a handy 12% in aggregate from three years ago, thanks to the earlier period of growth. Although it's been a bumpy ride, it's still fair to say the earnings growth recently has been mostly respectable for the company.
回顾过去一年,该公司的利润令人沮丧地下降了24%。无论如何,得益于早期的增长,每股收益比三年前总共提高了12%。尽管这是一段坎坷的旅程,但公平地说,最近该公司的收益增长基本上是值得尊敬的。
This is in contrast to the rest of the market, which is expected to grow by 35% over the next year, materially higher than the company's recent medium-term annualised growth rates.
这与其他市场形成对比,后者预计明年将增长35%,大大高于该公司最近的中期年化增长率。
In light of this, it's alarming that Jiangsu Tongguang Electronic Wire & Cable's P/E sits above the majority of other companies. Apparently many investors in the company are way more bullish than recent times would indicate and aren't willing to let go of their stock at any price. There's a good chance existing shareholders are setting themselves up for future disappointment if the P/E falls to levels more in line with recent growth rates.
有鉴于此,令人担忧的是,江苏通广电子电线电缆公司的市盈率超过了大多数其他公司。显然,该公司的许多投资者比最近的情况所显示的要乐观得多,不愿以任何价格抛售他们的股票。如果市盈率下降到与最近的增长率更一致的水平,现有股东很可能会让自己未来感到失望。
The Key Takeaway
关键的外卖
Using the price-to-earnings ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.
仅仅用市盈率来决定你是否应该出售你的股票是不明智的,但它可以成为公司未来前景的实用指南。
Our examination of Jiangsu Tongguang Electronic Wire & Cable revealed its three-year earnings trends aren't impacting its high P/E anywhere near as much as we would have predicted, given they look worse than current market expectations. Right now we are increasingly uncomfortable with the high P/E as this earnings performance isn't likely to support such positive sentiment for long. Unless the recent medium-term conditions improve markedly, it's very challenging to accept these prices as being reasonable.
我们对江苏通广电子线缆的调查显示,该公司三年的盈利趋势对其高市盈率的影响并不像我们预期的那么大,因为它们看起来比目前的市场预期更糟糕。目前,我们对高市盈率越来越感到不安,因为这种盈利表现不太可能长期支撑这种积极情绪。除非最近的中期状况明显改善,否则要接受这些价格是合理的是非常具有挑战性的。
Before you take the next step, you should know about the 3 warning signs for Jiangsu Tongguang Electronic Wire & Cable (1 is a bit unpleasant!) that we have uncovered.
在你采取下一步行动之前,你应该知道江苏通广电子电线电缆的3个警示标志(1个有点不舒服!)我们已经发现了。
If you're unsure about the strength of Jiangsu Tongguang Electronic Wire & Cable's business, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.
如果你.江苏通广电子线缆业务实力不明,为什么不探索我们的互动名单与坚实的业务基本面为其他一些公司,你可能有不及预期的期望。
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.
对这篇文章有什么反馈吗?担心内容吗?保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
这篇由《华尔街日报》撰写的文章本质上是笼统的。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。简单地说,华尔街在提到的任何股票中都没有头寸。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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