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Earnings Not Telling The Story For Design Capital Limited (HKG:1545) After Shares Rise 27%
Earnings Not Telling The Story For Design Capital Limited (HKG:1545) After Shares Rise 27%
Design Capital Limited (HKG:1545) shareholders would be excited to see that the share price has had a great month, posting a 27% gain and recovering from prior weakness. Unfortunately, the gains of the last month did little to right the losses of the last year with the stock still down 21% over that time.
Even after such a large jump in price, you could still be forgiven for feeling indifferent about Design Capital's P/E ratio of 9.6x, since the median price-to-earnings (or "P/E") ratio in Hong Kong is also close to 9x. Although, it's not wise to simply ignore the P/E without explanation as investors may be disregarding a distinct opportunity or a costly mistake.
As an illustration, earnings have deteriorated at Design Capital over the last year, which is not ideal at all. It might be that many expect the company to put the disappointing earnings performance behind them over the coming period, which has kept the P/E from falling. If not, then existing shareholders may be a little nervous about the viability of the share price.
Check out our latest analysis for Design Capital
SEHK:1545 Price Based on Past Earnings May 26th 2022 Want the full picture on earnings, revenue and cash flow for the company? Then our free report on Design Capital will help you shine a light on its historical performance.What Are Growth Metrics Telling Us About The P/E?
The only time you'd be comfortable seeing a P/E like Design Capital's is when the company's growth is tracking the market closely.
Retrospectively, the last year delivered a frustrating 35% decrease to the company's bottom line. As a result, earnings from three years ago have also fallen 36% overall. Accordingly, shareholders would have felt downbeat about the medium-term rates of earnings growth.
In contrast to the company, the rest of the market is expected to grow by 17% over the next year, which really puts the company's recent medium-term earnings decline into perspective.
In light of this, it's somewhat alarming that Design Capital's P/E sits in line with the majority of other companies. Apparently many investors in the company are way less bearish than recent times would indicate and aren't willing to let go of their stock right now. 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 the recent negative growth rates.
The Bottom Line On Design Capital's P/E
Design Capital appears to be back in favour with a solid price jump getting its P/E back in line with most other companies. It's argued the price-to-earnings ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
Our examination of Design Capital revealed its shrinking earnings over the medium-term aren't impacting its P/E as much as we would have predicted, given the market is set to grow. When we see earnings heading backwards and underperforming the market forecasts, we suspect the share price is at risk of declining, sending the moderate P/E lower. Unless the recent medium-term conditions improve, it's challenging to accept these prices as being reasonable.
Don't forget that there may be other risks. For instance, we've identified 4 warning signs for Design Capital that you should be aware of.
It's important to make sure you look for a great company, not just the first idea you come across. So take a peek at this free list of interesting companies with strong recent earnings growth (and a P/E ratio 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.
Design Capital Limited (HKG:1545) shareholders would be excited to see that the share price has had a great month, posting a 27% gain and recovering from prior weakness. Unfortunately, the gains of the last month did little to right the losses of the last year with the stock still down 21% over that time.
设计资本有限公司(HKG:1545)股东将会兴奋地看到,股价在一个月内表现出色,上涨了27%,从之前的疲软中恢复过来。不幸的是,上个月的收益几乎没有弥补去年的损失,在此期间,该股仍下跌了21%。
Even after such a large jump in price, you could still be forgiven for feeling indifferent about Design Capital's P/E ratio of 9.6x, since the median price-to-earnings (or "P/E") ratio in Hong Kong is also close to 9x. Although, it's not wise to simply ignore the P/E without explanation as investors may be disregarding a distinct opportunity or a costly mistake.
即使在股价如此大幅上涨之后,你对Design Capital 9.6倍的市盈率仍无动于衷也是情有可原的,因为香港的市盈率中值也接近9倍。尽管如此,在没有解释的情况下简单地忽视市盈率是不明智的,因为投资者可能会忽视一个独特的机会或代价高昂的错误。
As an illustration, earnings have deteriorated at Design Capital over the last year, which is not ideal at all. It might be that many expect the company to put the disappointing earnings performance behind them over the coming period, which has kept the P/E from falling. If not, then existing shareholders may be a little nervous about the viability of the share price.
举例来说,Design Capital的收益在过去一年里一直在恶化,这根本不是理想的情况。许多人可能预计,该公司在未来一段时间内将把令人失望的收益表现抛在脑后,这让市盈率不会下降。如果不是,那么现有股东可能会对股价的生存能力感到有点紧张。
Check out our latest analysis for Design Capital
查看我们对设计资本的最新分析
What Are Growth Metrics Telling Us About The P/E?
增长指标告诉我们关于市盈率的哪些信息?
The only time you'd be comfortable seeing a P/E like Design Capital's is when the company's growth is tracking the market closely.
看到Design Capital这样的市盈率,你唯一会感到舒服的时候,就是该公司的增长与市场密切相关的时候。
Retrospectively, the last year delivered a frustrating 35% decrease to the company's bottom line. As a result, earnings from three years ago have also fallen 36% overall. Accordingly, shareholders would have felt downbeat about the medium-term rates of earnings growth.
回顾过去一年,该公司的利润令人沮丧地下降了35%。因此,三年前的整体收益也下降了36%。因此,股东们会对中期盈利增长率感到悲观。
In contrast to the company, the rest of the market is expected to grow by 17% over the next year, which really puts the company's recent medium-term earnings decline into perspective.
与该公司形成鲜明对比的是,市场其他部分预计明年将增长17%,这确实让人对该公司最近中期收益的下降有了正确的认识。
In light of this, it's somewhat alarming that Design Capital's P/E sits in line with the majority of other companies. Apparently many investors in the company are way less bearish than recent times would indicate and aren't willing to let go of their stock right now. 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 the recent negative growth rates.
有鉴于此,Design Capital的市盈率与大多数其他公司持平,这有点令人担忧。显然,该公司的许多投资者并不像最近的情况所显示的那样悲观,他们现在不愿抛售自己的股票。如果市盈率下降到与最近负增长更一致的水平,现有股东很可能会让自己未来感到失望。
The Bottom Line On Design Capital's P/E
设计资本市盈率的底线
Design Capital appears to be back in favour with a solid price jump getting its P/E back in line with most other companies. It's argued the price-to-earnings ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
Design Capital似乎再次受到青睐,股价稳步上涨,使其市盈率恢复到与大多数其他公司的水平。有人认为,市盈率是衡量某些行业价值的次要指标,但它可以成为一个强大的商业信心指标。
Our examination of Design Capital revealed its shrinking earnings over the medium-term aren't impacting its P/E as much as we would have predicted, given the market is set to grow. When we see earnings heading backwards and underperforming the market forecasts, we suspect the share price is at risk of declining, sending the moderate P/E lower. Unless the recent medium-term conditions improve, it's challenging to accept these prices as being reasonable.
我们对Design Capital的调查显示,考虑到市场将会增长,其中期收益缩水对市盈率的影响并不像我们预期的那样大。当我们看到盈利出现倒退,表现逊于市场预期时,我们怀疑股价有下跌的风险,导致温和的市盈率走低。除非最近的中期状况有所改善,否则很难接受这些价格是合理的。
Don't forget that there may be other risks. For instance, we've identified 4 warning signs for Design Capital that you should be aware of.
别忘了,可能还有其他风险。例如,我们已经确定设计资本的4个警示标志这一点你应该知道。
It's important to make sure you look for a great company, not just the first idea you come across. So take a peek at this free list of interesting companies with strong recent earnings growth (and a P/E ratio below 20x).
重要的是确保你寻找的是一家伟大的公司,而不仅仅是你遇到的第一个想法。所以让我们来看看这个免费近期盈利增长强劲(市盈率低于20倍)的有趣公司名单。
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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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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