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There's No Escaping Wai Chi Holdings Company Limited's (HKG:1305) Muted Earnings Despite A 27% Share Price Rise
There's No Escaping Wai Chi Holdings Company Limited's (HKG:1305) Muted Earnings Despite A 27% Share Price Rise
Wai Chi Holdings Company Limited (HKG:1305) shareholders would be excited to see that the share price has had a great month, posting a 27% gain and recovering from prior weakness. The last month tops off a massive increase of 139% in the last year.
Although its price has surged higher, Wai Chi Holdings may still be sending bullish signals at the moment with its price-to-earnings (or "P/E") ratio of 5.7x, since almost half of all companies in Hong Kong have P/E ratios greater than 9x and even P/E's higher than 19x are not unusual. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's limited.
Wai Chi Holdings certainly has been doing a great job lately as it's been growing earnings at a really rapid pace. It might be that many expect the strong earnings performance to degrade substantially, which has repressed the P/E. If you like the company, you'd be hoping this isn't the case so that you could potentially pick up some stock while it's out of favour.
See our latest analysis for Wai Chi Holdings
SEHK:1305 Price Based on Past Earnings April 29th 2022 Although there are no analyst estimates available for Wai Chi Holdings, take a look at this free data-rich visualisation to see how the company stacks up on earnings, revenue and cash flow.What Are Growth Metrics Telling Us About The Low P/E?
There's an inherent assumption that a company should underperform the market for P/E ratios like Wai Chi Holdings' to be considered reasonable.
Taking a look back first, we see that the company grew earnings per share by an impressive 66% last year. The latest three year period has also seen a 14% overall rise in EPS, aided extensively by its short-term performance. Therefore, it's fair to say the earnings growth recently has been respectable for the company.
This is in contrast to the rest of the market, which is expected to grow by 17% over the next year, materially higher than the company's recent medium-term annualised growth rates.
In light of this, it's understandable that Wai Chi Holdings' P/E sits below the majority of other companies. It seems most investors are expecting to see the recent limited growth rates continue into the future and are only willing to pay a reduced amount for the stock.
The Final Word
The latest share price surge wasn't enough to lift Wai Chi Holdings' P/E close to the market median. Generally, our preference is to limit the use of the price-to-earnings ratio to establishing what the market thinks about the overall health of a company.
We've established that Wai Chi Holdings maintains its low P/E on the weakness of its recent three-year growth being lower than the wider market forecast, as expected. At this stage investors feel the potential for an improvement in earnings isn't great enough to justify a higher P/E ratio. If recent medium-term earnings trends continue, it's hard to see the share price rising strongly in the near future under these circumstances.
It's always necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Wai Chi Holdings, and understanding should be part of your investment process.
Of course, you might find a fantastic investment by looking at a few good candidates. So take a peek at this free list of companies with a strong growth track record, trading on a P/E below 20x.
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.
Wai Chi Holdings Company Limited (HKG:1305) shareholders would be excited to see that the share price has had a great month, posting a 27% gain and recovering from prior weakness. The last month tops off a massive increase of 139% in the last year.
伟志集团有限公司(HKG:1305)股东将兴奋地看到股价在一个月内表现出色,上涨了27%,并从之前的疲软中恢复过来。上个月达到了去年139%的大幅增长。
Although its price has surged higher, Wai Chi Holdings may still be sending bullish signals at the moment with its price-to-earnings (or "P/E") ratio of 5.7x, since almost half of all companies in Hong Kong have P/E ratios greater than 9x and even P/E's higher than 19x are not unusual. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's limited.
尽管伟记控股股价飙升,但其5.7倍的市盈率(本益比)目前可能仍在发出看涨信号,因为香港几乎一半的公司的市盈率高于9倍,即使市盈率高于19倍也并非罕见。尽管如此,仅仅以面值来看待市盈率是不明智的,因为可能会有一个解释为什么它是有限的。
Wai Chi Holdings certainly has been doing a great job lately as it's been growing earnings at a really rapid pace. It might be that many expect the strong earnings performance to degrade substantially, which has repressed the P/E. If you like the company, you'd be hoping this isn't the case so that you could potentially pick up some stock while it's out of favour.
伟基控股最近确实做得很好,因为它一直在以非常快的速度增长收益。许多人可能预计强劲的盈利表现将大幅下滑,这抑制了市盈率。如果你喜欢这家公司,你可能会希望情况并非如此,这样你就可以在不受青睐的时候买入一些股票。
See our latest analysis for Wai Chi Holdings
查看我们对伟记控股的最新分析
What Are Growth Metrics Telling Us About The Low P/E?
增长指标告诉我们关于低市盈率的哪些信息?
There's an inherent assumption that a company should underperform the market for P/E ratios like Wai Chi Holdings' to be considered reasonable.
有一个固有的假设,即一家公司的市盈率应该低于市场,而伟记控股这样的市盈率才被认为是合理的。
Taking a look back first, we see that the company grew earnings per share by an impressive 66% last year. The latest three year period has also seen a 14% overall rise in EPS, aided extensively by its short-term performance. Therefore, it's fair to say the earnings growth recently has been respectable for the company.
首先回顾一下,我们看到该公司去年的每股收益增长了令人印象深刻的66%。在最近三年期间,每股收益也出现了14%的整体增长,这在很大程度上得益于其短期表现。因此,公平地说,最近的收益增长对公司来说是可敬的。
This is in contrast to the rest of the market, which is expected to grow by 17% 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17%,大大高于该公司最近的中期年化增长率。
In light of this, it's understandable that Wai Chi Holdings' P/E sits below the majority of other companies. It seems most investors are expecting to see the recent limited growth rates continue into the future and are only willing to pay a reduced amount for the stock.
有鉴于此,伟记控股的市盈率低于其他大多数公司也是可以理解的。似乎大多数投资者都预计,最近有限的增长率将持续到未来,他们只愿意为该股支付较低的价格。
The Final Word
最后的结论
The latest share price surge wasn't enough to lift Wai Chi Holdings' P/E close to the market median. Generally, our preference is to limit the use of the price-to-earnings ratio to establishing what the market thinks about the overall health of a company.
最新的股价飙升不足以将伟基控股的市盈率推高至接近市场中值的水平。一般来说,我们倾向于限制市盈率的使用,以确定市场对公司整体健康状况的看法。
We've established that Wai Chi Holdings maintains its low P/E on the weakness of its recent three-year growth being lower than the wider market forecast, as expected. At this stage investors feel the potential for an improvement in earnings isn't great enough to justify a higher P/E ratio. If recent medium-term earnings trends continue, it's hard to see the share price rising strongly in the near future under these circumstances.
我们已经确定,伟记控股维持其低市盈率的原因是,正如预期的那样,其最近三年的增长低于更广泛的市场预测。在这个阶段,投资者认为盈利改善的潜力还不够大,不足以证明提高市盈率是合理的。如果近期的中期盈利趋势继续下去,在这种情况下,很难看到股价在不久的将来强劲上涨。
It's always necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Wai Chi Holdings, and understanding should be part of your investment process.
总是有必要考虑到投资风险的幽灵无处不在。我们已经确定了伟记控股的一个警告信号,理解应该是你投资过程的一部分。
Of course, you might find a fantastic investment by looking at a few good candidates. So take a peek at this free list of companies with a strong growth track record, trading on a P/E below 20x.
当然了,通过观察几个优秀的候选人,你可能会发现这是一项非常棒的投资。所以让我们来看看这个免费业绩表现强劲、市盈率低于20倍的公司名单。
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。
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