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China Merchants Port Holdings' (HKG:144) Earnings Are Weaker Than They Seem
China Merchants Port Holdings' (HKG:144) Earnings Are Weaker Than They Seem
China Merchants Port Holdings Company Limited (HKG:144) just reported some strong earnings, and the market rewarded them with a positive share price move. However, our analysis suggests that shareholders may be missing some factors that indicate the earnings result was not as good as it looked.
View our latest analysis for China Merchants Port Holdings
SEHK:144 Earnings and Revenue History May 4th 2022The Impact Of Unusual Items On Profit
To properly understand China Merchants Port Holdings' profit results, we need to consider the HK$1.4b gain attributed to unusual items. We can't deny that higher profits generally leave us optimistic, but we'd prefer it if the profit were to be sustainable. We ran the numbers on most publicly listed companies worldwide, and it's very common for unusual items to be once-off in nature. And that's as you'd expect, given these boosts are described as 'unusual'. We can see that China Merchants Port Holdings' positive unusual items were quite significant relative to its profit in the year to December 2021. All else being equal, this would likely have the effect of making the statutory profit a poor guide to underlying earnings power.
That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.
Our Take On China Merchants Port Holdings' Profit Performance
As we discussed above, we think the significant positive unusual item makes China Merchants Port Holdings' earnings a poor guide to its underlying profitability. As a result, we think it may well be the case that China Merchants Port Holdings' underlying earnings power is lower than its statutory profit. But at least holders can take some solace from the 50% EPS growth in the last year. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. If you want to do dive deeper into China Merchants Port Holdings, you'd also look into what risks it is currently facing. For example - China Merchants Port Holdings has 2 warning signs we think you should be aware of.
This note has only looked at a single factor that sheds light on the nature of China Merchants Port Holdings' profit. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.
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.
China Merchants Port Holdings Company Limited (HKG:144) just reported some strong earnings, and the market rewarded them with a positive share price move. However, our analysis suggests that shareholders may be missing some factors that indicate the earnings result was not as good as it looked.
招商证券港口控股有限公司(HKG:144)刚刚公布了一些强劲的收益,市场对他们的回报是股价的积极变动。然而,我们的分析表明,股东可能遗漏了一些表明盈利结果并不像看起来那么好的因素。
View our latest analysis for China Merchants Port Holdings
查看我们对招商证券港口控股的最新分析
The Impact Of Unusual Items On Profit
异常项目对利润的影响
To properly understand China Merchants Port Holdings' profit results, we need to consider the HK$1.4b gain attributed to unusual items. We can't deny that higher profits generally leave us optimistic, but we'd prefer it if the profit were to be sustainable. We ran the numbers on most publicly listed companies worldwide, and it's very common for unusual items to be once-off in nature. And that's as you'd expect, given these boosts are described as 'unusual'. We can see that China Merchants Port Holdings' positive unusual items were quite significant relative to its profit in the year to December 2021. All else being equal, this would likely have the effect of making the statutory profit a poor guide to underlying earnings power.
要正确理解招商证券港口控股的盈利业绩,我们需要考虑归因于异常项目的14亿港元收益。我们不能否认,更高的利润通常会让我们保持乐观,但如果利润是可持续的,我们更愿意这样做。我们对全球大多数上市公司进行了统计,不寻常的项目在性质上是一次性的,这是非常常见的。考虑到这些提振被描述为“不寻常的”,这正如你所预期的那样。我们可以看到,招商证券港口控股的积极异常项目相对于其截至2021年12月的年度利润来说相当显著。在其他条件不变的情况下,这可能会使法定利润成为衡量潜在盈利能力的糟糕指标。
That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.
这可能会让你想知道,分析师对未来盈利能力的预测是什么。幸运的是,您可以单击此处查看基于他们估计的未来盈利能力的互动图表。
Our Take On China Merchants Port Holdings' Profit Performance
我们对招商证券港口控股公司盈利业绩的看法
As we discussed above, we think the significant positive unusual item makes China Merchants Port Holdings' earnings a poor guide to its underlying profitability. As a result, we think it may well be the case that China Merchants Port Holdings' underlying earnings power is lower than its statutory profit. But at least holders can take some solace from the 50% EPS growth in the last year. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. If you want to do dive deeper into China Merchants Port Holdings, you'd also look into what risks it is currently facing. For example - China Merchants Port Holdings has 2 warning signs we think you should be aware of.
正如我们上面讨论的,我们认为这一重大的积极的不寻常项目使招商证券港口控股的收益不能很好地反映其潜在的盈利能力。因此,我们认为很可能是招商证券港口控股的基础盈利能力低于其法定利润。但至少持有者可以从去年50%的每股收益增长中得到一些安慰。本文的目的是评估我们可以在多大程度上依赖法定收益来反映公司的潜力,但还有很多东西需要考虑。如果你真的想更深入地研究招商证券港口控股公司,你还应该调查它目前面临的风险。例如-招商证券港口控股有两个警示信号,我们认为你应该知道。
This note has only looked at a single factor that sheds light on the nature of China Merchants Port Holdings' profit. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.
这份报告只关注了一个因素,它揭示了招商证券港口控股公司的利润性质。但如果你有能力将注意力集中在细枝末节上,总会有更多的东西需要发现。一些人认为,高股本回报率是高质量企业的良好标志。所以你可能想看看这个免费拥有高股本回报率的公司的集合,或内部人士正在购买的这份股票清单。
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。
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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