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Shandong Kaisheng New Materials Co.,Ltd.'s (SZSE:301069) Business Is Yet to Catch Up With Its Share Price
Shandong Kaisheng New Materials Co.,Ltd.'s (SZSE:301069) Business Is Yet to Catch Up With Its Share Price
When close to half the companies in China have price-to-earnings ratios (or "P/E's") below 31x, you may consider Shandong Kaisheng New Materials Co.,Ltd. (SZSE:301069) as a stock to avoid entirely with its 77.9x P/E ratio. 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.
Earnings have risen firmly for Shandong Kaisheng New MaterialsLtd recently, which is pleasing to see. It might be that many expect the respectable earnings performance to beat most other companies over the coming period, which has increased investors' willingness to pay up for the stock. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
Check out our latest analysis for Shandong Kaisheng New MaterialsLtd
SZSE:301069 Price Based on Past Earnings June 3rd 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 Shandong Kaisheng New MaterialsLtd's earnings, revenue and cash flow.Does Growth Match The High P/E?
Shandong Kaisheng New MaterialsLtd'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 an exceptional 16% gain to the company's bottom line. Still, incredibly EPS has fallen 70% in total from three years ago, which is quite disappointing. Accordingly, shareholders would have felt downbeat about the medium-term rates of earnings growth.
Weighing that medium-term earnings trajectory against the broader market's one-year forecast for expansion of 38% shows it's an unpleasant look.
With this information, we find it concerning that Shandong Kaisheng New MaterialsLtd is trading at a P/E higher than the market. It seems most investors are ignoring the recent poor growth rate and are hoping for a turnaround in the company's business prospects. There's a very 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 Final Word
While the price-to-earnings ratio shouldn't be the defining factor in whether you buy a stock or not, it's quite a capable barometer of earnings expectations.
Our examination of Shandong Kaisheng New MaterialsLtd revealed its shrinking earnings over the medium-term aren't impacting its high P/E anywhere near as much as we would have predicted, given the market is set to grow. Right now we are increasingly uncomfortable with the high P/E as this earnings performance is highly unlikely to support such positive sentiment for long. If recent medium-term earnings trends continue, it will place shareholders' investments at significant risk and potential investors in danger of paying an excessive premium.
And what about other risks? Every company has them, and we've spotted 2 warning signs for Shandong Kaisheng New MaterialsLtd (of which 1 shouldn't be ignored!) you should know about.
If these risks are making you reconsider your opinion on Shandong Kaisheng New MaterialsLtd, explore our interactive list of high quality stocks to get an idea of what else is out there.
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.
When close to half the companies in China have price-to-earnings ratios (or "P/E's") below 31x, you may consider Shandong Kaisheng New Materials Co.,Ltd. (SZSE:301069) as a stock to avoid entirely with its 77.9x P/E ratio. 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.
当近一半的中国公司的市盈率(或市盈率)低于31倍时,你可以考虑山东凯盛新材料有限公司。(SZSE:301069)以其77.9倍的市盈率完全避免作为一只股票。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。
Earnings have risen firmly for Shandong Kaisheng New MaterialsLtd recently, which is pleasing to see. It might be that many expect the respectable earnings performance to beat most other companies over the coming period, which has increased investors' willingness to pay up for the stock. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
山东凯盛新材料有限公司最近盈利稳步增长,这是令人欣慰的。许多人可能预计,在未来一段时间里,令人尊敬的盈利表现将超过大多数其他公司,这提高了投资者购买该股的意愿。你真的希望如此,否则你会无缘无故地付出相当大的代价。
Check out our latest analysis for Shandong Kaisheng New MaterialsLtd
查看我们对山东凯盛新材料有限公司的最新分析
Does Growth Match The High P/E?
增长是否与高市盈率相匹配?
Shandong Kaisheng New MaterialsLtd'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.
山东凯盛新材料股份有限公司的市盈率对于一家预计将实现非常强劲增长的公司来说是典型的,而且重要的是,它的表现远远好于市场。
Retrospectively, the last year delivered an exceptional 16% gain to the company's bottom line. Still, incredibly EPS has fallen 70% in total from three years ago, which is quite disappointing. Accordingly, shareholders would have felt downbeat about the medium-term rates of earnings growth.
回顾过去一年,公司的利润实现了16%的不同寻常的增长。尽管如此,令人难以置信的是,每股收益比三年前总共下降了70%,这相当令人失望。因此,股东们会对中期盈利增长率感到悲观。
Weighing that medium-term earnings trajectory against the broader market's one-year forecast for expansion of 38% shows it's an unpleasant look.
将这一中期收益轨迹与大盘一年增长38%的预期进行比较,可以看出这是一个令人不快的前景。
With this information, we find it concerning that Shandong Kaisheng New MaterialsLtd is trading at a P/E higher than the market. It seems most investors are ignoring the recent poor growth rate and are hoping for a turnaround in the company's business prospects. There's a very 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.
有了这些信息,我们发现山东凯盛新材料股份有限公司的市盈率高于市场。似乎大多数投资者都忽视了最近糟糕的增长率,并希望该公司的业务前景有所好转。如果市盈率下降到与最近负增长更一致的水平,现有股东很有可能会让自己未来感到失望。
The Final Word
最后的结论
While the price-to-earnings ratio shouldn't be the defining factor in whether you buy a stock or not, it's quite a capable barometer of earnings expectations.
虽然市盈率不应该是你是否买入一只股票的决定性因素,但它是一个很好的盈利预期晴雨表。
Our examination of Shandong Kaisheng New MaterialsLtd revealed its shrinking earnings over the medium-term aren't impacting its high P/E anywhere near as much as we would have predicted, given the market is set to grow. Right now we are increasingly uncomfortable with the high P/E as this earnings performance is highly unlikely to support such positive sentiment for long. If recent medium-term earnings trends continue, it will place shareholders' investments at significant risk and potential investors in danger of paying an excessive premium.
我们对山东凯盛新材料有限公司的调查显示,考虑到市场的增长,该公司中期收益的缩水对其高市盈率的影响并不像我们预期的那样大。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持这种积极情绪。如果近期的中期盈利趋势持续下去,将使股东的投资面临重大风险,潜在投资者面临支付过高溢价的危险。
And what about other risks? Every company has them, and we've spotted 2 warning signs for Shandong Kaisheng New MaterialsLtd (of which 1 shouldn't be ignored!) you should know about.
还有其他风险呢?每家公司都有它们,我们已经发现山东凯盛新材料有限公司的2个警示标志(其中1个不应该被忽视!)你应该知道。
If these risks are making you reconsider your opinion on Shandong Kaisheng New MaterialsLtd, explore our interactive list of high quality stocks to get an idea of what else is out there.
如果这些风险让你重新考虑对山东凯盛新材料有限公司的看法,探索我们的高质量股票互动列表,以了解还有什么。
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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