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SG Micro Corp's (SZSE:300661) Business Is Trailing The Market But Its Shares Aren't
SG Micro Corp's (SZSE:300661) Business Is Trailing The Market But Its Shares Aren't
SG Micro Corp's (SZSE:300661) price-to-earnings (or "P/E") ratio of 79.6x 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 30x and even P/E's below 18x are quite common. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so lofty.
Recent times have been advantageous for SG Micro as its earnings have been rising faster than most other companies. The P/E is probably high because investors think this strong earnings performance will continue. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
See our latest analysis for SG Micro
SZSE:300661 Price Based on Past Earnings May 22nd 2022 Want the full picture on analyst estimates for the company? Then our free report on SG Micro will help you uncover what's on the horizon.Does Growth Match The High P/E?
SG Micro'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.
If we review the last year of earnings growth, the company posted a terrific increase of 163%. Pleasingly, EPS has also lifted 750% in aggregate from three years ago, thanks to the last 12 months of growth. Therefore, it's fair to say the earnings growth recently has been superb for the company.
Shifting to the future, estimates from the analysts covering the company suggest earnings should grow by 28% per year over the next three years. With the market predicted to deliver 26% growth per year, the company is positioned for a comparable earnings result.
In light of this, it's curious that SG Micro's P/E sits above the majority of other companies. It seems most investors are ignoring the fairly average growth expectations and are willing to pay up for exposure to the stock. Although, additional gains will be difficult to achieve as this level of earnings growth is likely to weigh down the share price eventually.
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.
We've established that SG Micro currently trades on a higher than expected P/E since its forecast growth is only in line with the wider market. When we see an average earnings outlook with market-like growth, we suspect the share price is at risk of declining, sending the high P/E lower. Unless these conditions improve, it's challenging to accept these prices as being reasonable.
A lot of potential risks can sit within a company's balance sheet. You can assess many of the main risks through our free balance sheet analysis for SG Micro with six simple checks.
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.
SG Micro Corp's (SZSE:300661) price-to-earnings (or "P/E") ratio of 79.6x 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 30x and even P/E's below 18x are quite common. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so lofty.
SG Micro Corp的(SZSE:300661)79.6倍的市盈率可能会让它看起来像是一个强劲的卖盘,而在中国,大约一半的公司的市盈率低于30倍,甚至低于18倍的市盈率也很常见。然而,仅仅从表面上看待市盈率是不明智的,因为可能会有一个解释,为什么它如此之高。
Recent times have been advantageous for SG Micro as its earnings have been rising faster than most other companies. The P/E is probably high because investors think this strong earnings performance will continue. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
最近的时期对新科微电子来说是有利的,因为它的收益增长速度一直快于大多数其他公司。市盈率之所以高,可能是因为投资者认为这种强劲的盈利表现将持续下去。你真的希望如此,否则你会无缘无故地付出相当大的代价。
See our latest analysis for SG Micro
查看我们对新科微电子的最新分析
Does Growth Match The High P/E?
增长是否与高市盈率相匹配?
SG Micro'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.
对于一家预计将实现非常强劲增长的公司来说,SG Micro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。
If we review the last year of earnings growth, the company posted a terrific increase of 163%. Pleasingly, EPS has also lifted 750% in aggregate from three years ago, thanks to the last 12 months of growth. Therefore, it's fair to say the earnings growth recently has been superb for the company.
如果我们回顾去年的收益增长,该公司公布了163%的惊人增长。令人欣喜的是,由于过去12个月的增长,每股收益也比三年前上涨了750%。因此,公平地说,最近的收益增长对公司来说是一流的。
Shifting to the future, estimates from the analysts covering the company suggest earnings should grow by 28% per year over the next three years. With the market predicted to deliver 26% growth per year, the company is positioned for a comparable earnings result.
展望未来,跟踪该公司的分析师预计,未来三年,该公司的收益将以每年28%的速度增长。由于市场预计每年将实现26%的增长,该公司将迎来可比的收益结果。
In light of this, it's curious that SG Micro's P/E sits above the majority of other companies. It seems most investors are ignoring the fairly average growth expectations and are willing to pay up for exposure to the stock. Although, additional gains will be difficult to achieve as this level of earnings growth is likely to weigh down the share price eventually.
有鉴于此,令人好奇的是,SG Micro的市盈率高于大多数其他公司。似乎大多数投资者忽视了相当平均的增长预期,愿意为股票敞口支付高价。尽管如此,进一步的收益将很难实现,因为这种水平的收益增长最终可能会拖累股价。
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。
We've established that SG Micro currently trades on a higher than expected P/E since its forecast growth is only in line with the wider market. When we see an average earnings outlook with market-like growth, we suspect the share price is at risk of declining, sending the high P/E lower. Unless these conditions improve, it's challenging to accept these prices as being reasonable.
我们已经确定,SG Micro目前的市盈率高于预期,因为其预期增长仅与更广泛的市场一致。当我们看到平均收益前景和市场一样的增长时,我们怀疑股价有下跌的风险,导致高市盈率下降。除非这些条件得到改善,否则很难接受这些价格是合理的。
A lot of potential risks can sit within a company's balance sheet. You can assess many of the main risks through our free balance sheet analysis for SG Micro with six simple checks.
一家公司的资产负债表中可能隐藏着许多潜在风险。您可以通过我们的免费SG Micro的资产负债表分析,包括六个简单的检查。
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。
本文由Simply Wall St.撰写,具有概括性。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。Simply Wall St.对上述任何一只股票都没有持仓。
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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。
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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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