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AIA Group Limited (HKG:1299) Not Flying Under The Radar
AIA Group Limited (HKG:1299) Not Flying Under The Radar
With a price-to-earnings (or "P/E") ratio of 32.9x AIA Group Limited (HKG:1299) may be sending very bearish signals at the moment, given that almost half of all companies in Hong Kong have P/E ratios under 8x and even P/E's lower than 4x are not unusual. However, the P/E might be quite high for a reason and it requires further investigation to determine if it's justified.
While the market has experienced earnings growth lately, AIA Group's earnings have gone into reverse gear, which is not great. One possibility is that the P/E is high because investors think this poor earnings performance will turn the corner. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
Check out our latest analysis for AIA Group
SEHK:1299 Price Based on Past Earnings August 26th 2022 Keen to find out how analysts think AIA Group's future stacks up against the industry? In that case, our free report is a great place to start.Is There Enough Growth For AIA Group?
The only time you'd be truly comfortable seeing a P/E as steep as AIA Group's is when the company's growth is on track to outshine the market decidedly.
Taking a look back first, the company's earnings per share growth last year wasn't something to get excited about as it posted a disappointing decline of 46%. This means it has also seen a slide in earnings over the longer-term as EPS is down 10.0% in total over the last three years. Therefore, it's fair to say the earnings growth recently has been undesirable for the company.
Turning to the outlook, the next three years should generate growth of 36% per year as estimated by the analysts watching the company. With the market only predicted to deliver 15% per annum, the company is positioned for a stronger earnings result.
In light of this, it's understandable that AIA Group's P/E sits above the majority of other companies. It seems most investors are expecting this strong future growth and are willing to pay more for the stock.
The Key Takeaway
Typically, we'd caution against reading too much into price-to-earnings ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
As we suspected, our examination of AIA Group's analyst forecasts revealed that its superior earnings outlook is contributing to its high P/E. At this stage investors feel the potential for a deterioration in earnings isn't great enough to justify a lower P/E ratio. Unless these conditions change, they will continue to provide strong support to the share price.
The company's balance sheet is another key area for risk analysis. Our free balance sheet analysis for AIA Group with six simple checks will allow you to discover any risks that could be an issue.
If you're unsure about the strength of AIA Group's business, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.
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.
市盈率(P/E)为32.9倍友邦保险香港上市公司(HKG:1299)目前可能发出非常悲观的信号,因为几乎一半的香港公司的市盈率低于8倍,即使市盈率低于4倍也并不罕见。然而,市盈率可能相当高是有原因的,需要进一步调查才能确定它是否合理。
虽然市场最近经历了盈利增长,但友邦保险的盈利却出现了逆转,这并不是很好。一种可能性是,市盈率很高,因为投资者认为这种糟糕的盈利表现将会好转。你真的希望如此,否则你会无缘无故地付出相当大的代价。
看看我们对友邦保险的最新分析
联交所:1299基于过去收益的价格2022年8月26日渴望了解分析师认为友邦保险的未来与行业相比如何?那样的话,我们的免费报告是一个很好的起点。友邦保险有足够的增长吗?
看到友邦保险这样高的市盈率,你唯一会真正感到放心的时候,就是该公司的增长势头明显好于大盘的时候。
首先回顾一下,该公司去年的每股收益增长并不令人兴奋,因为它公布了令人失望的46%的降幅。这意味着它的长期收益也出现了下滑,因为每股收益在过去三年里总共下降了10.0%。因此,公平地说,最近的收益增长对公司来说是不可取的。
谈到前景,观察该公司的分析师估计,未来三年的年增长率应为36%。由于市场预计每年只有15%的增长,该公司将迎来更强劲的收益结果。
有鉴于此,友邦保险的市盈率高于其他大多数公司也是可以理解的。似乎大多数投资者都在期待这种强劲的未来增长,并愿意为该股支付更高的价格。
关键的外卖
通常,在做出投资决策时,我们会告诫不要过度解读市盈率,尽管它可以充分揭示其他市场参与者对该公司的看法。
正如我们怀疑的那样,我们对友邦保险分析师预测的审查显示,其出色的盈利前景是导致其高市盈率的原因之一。在现阶段,投资者认为盈利恶化的可能性还不够大,不足以证明较低的市盈率是合理的。除非这些条件改变,否则将继续为股价提供强有力的支撑。
该公司的资产负债表是风险分析的另一个关键领域。我们的免费对友邦保险的资产负债表分析和六个简单的检查将让你发现任何可能成为问题的风险。
如果你.不确定友邦保险的生意有多强,为什么不探索我们的互动列表,为其他一些你可能没有达到预期的公司提供坚实的商业基本面。
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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