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We Think That There Are Issues Underlying Ko Yo Chemical (Group)'s (HKG:827) Earnings
We Think That There Are Issues Underlying Ko Yo Chemical (Group)'s (HKG:827) Earnings
Ko Yo Chemical (Group) Limited (HKG:827) announced strong profits, but the stock was stagnant. We did some digging, and we found some concerning factors in the details.
Check out our latest analysis for Ko Yo Chemical (Group)
SEHK:827 Earnings and Revenue History September 2nd 2022One essential aspect of assessing earnings quality is to look at how much a company is diluting shareholders. Ko Yo Chemical (Group) expanded the number of shares on issue by 9.8% over the last year. As a result, its net income is now split between a greater number of shares. To talk about net income, without noticing earnings per share, is to be distracted by the big numbers while ignoring the smaller numbers that talk to per share value. Check out Ko Yo Chemical (Group)'s historical EPS growth by clicking on this link.
How Is Dilution Impacting Ko Yo Chemical (Group)'s Earnings Per Share (EPS)?
Ko Yo Chemical (Group) was losing money three years ago. The good news is that profit was up 2,807% in the last twelve months. But EPS was less impressive, up only 2,715% in that time. So you can see that the dilution has had a bit of an impact on shareholders.
Changes in the share price do tend to reflect changes in earnings per share, in the long run. So it will certainly be a positive for shareholders if Ko Yo Chemical (Group) can grow EPS persistently. But on the other hand, we'd be far less excited to learn profit (but not EPS) was improving. For the ordinary retail shareholder, EPS is a great measure to check your hypothetical "share" of the company's profit.
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Ko Yo Chemical (Group).
How Do Unusual Items Influence Profit?
Finally, we should also consider the fact that unusual items boosted Ko Yo Chemical (Group)'s net profit by CN¥91m over the last year. While we like to see profit increases, we tend to be a little more cautious when unusual items have made a big contribution. When we crunched the numbers on thousands of publicly listed companies, we found that a boost from unusual items in a given year is often not repeated the next year. Which is hardly surprising, given the name. If Ko Yo Chemical (Group) doesn't see that contribution repeat, then all else being equal we'd expect its profit to drop over the current year.
Our Take On Ko Yo Chemical (Group)'s Profit Performance
In its last report Ko Yo Chemical (Group) benefitted from unusual items which boosted its profit, which could make the profit seem better than it really is on a sustainable basis. On top of that, the dilution means that its earnings per share performance is worse than its profit performance. For the reasons mentioned above, we think that a perfunctory glance at Ko Yo Chemical (Group)'s statutory profits might make it look better than it really is on an underlying level. So while earnings quality is important, it's equally important to consider the risks facing Ko Yo Chemical (Group) at this point in time. For example, we've discovered 2 warning signs that you should run your eye over to get a better picture of Ko Yo Chemical (Group).
In this article we've looked at a number of factors that can impair the utility of profit numbers, and we've come away cautious. But there are plenty of other ways to inform your opinion of a company. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying to be useful.
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.
光洋化学(集团)有限公司 (HKG: 827) 宣布了强劲的利润,但该股停滞不前。我们进行了一些挖掘,在细节中发现了一些令人担忧的因素。
查看我们对光洋化学(集团)的最新分析
香港交易所:827 2022 年 9 月 2 日的收益和收入记录评估收益质量的一个重要方面是看一家公司在多大程度上稀释了股东。光洋化学(集团)将已发行股票数量比去年增加了9.8%。因此,其净收入现在由更多的股票分配。在不注意每股收益的情况下谈论净收入,就是被大数字分散注意力,而忽略与之相关的较小数字 每股 价值。点击此链接,查看光洋化学(集团)的历史每股收益增长。
摊薄如何影响光洋化学(集团)的每股收益(EPS)?
光洋化学(集团)三年前亏损。好消息是,在过去的十二个月中,利润增长了2,807%。但是每股收益却不那么令人印象深刻,当时仅增长了2715%。因此,你可以看出,稀释对股东产生了一些影响。
从长远来看,股价的变化往往反映了每股收益的变化。因此,如果Ko Yo Chemical(集团)能够持续增长每股收益,那对股东来说肯定是积极的。但另一方面,得知利润(但每股收益不是)有所改善,我们就不那么兴奋了。对于普通零售股东而言,每股收益是检查您在公司利润中的假设 “份额” 的好方法。
注意: 我们始终建议投资者检查资产负债表的实力。点击此处查看我们对光洋化学(集团)的资产负债表分析。
不寻常的物品如何影响利润?
最后,我们还应该考虑这样一个事实,即不寻常的物品使Ko Yo Chemical(集团)的净利润比去年增加了9100万元人民币。虽然我们希望看到利润增加,但当不寻常的物品做出了巨大贡献时,我们往往会更加谨慎。当我们计算数千家上市公司的数字时,我们发现,在给定年份中,不寻常的项目通常会带来提振 不 第二年重复。考虑到这个名字,这并不奇怪。如果Ko Yo Chemical(集团)认为这种贡献不会重演,那么在其他条件相同的情况下,我们预计其利润将比本年度下降。
我们对光洋化学(集团)利润表现的看法
在上一份报告中,Ko Yo Chemical(集团)受益于不寻常的项目,这些物品增加了其利润,这可能使利润看起来好于可持续发展的实际水平。最重要的是,摊薄意味着其每股收益表现低于其利润表现。出于上述原因,我们认为,敷衍地看一眼Ko Yo Chemical(集团)的法定利润可能会使其看起来比实际基础水平要好。因此,尽管收益质量很重要,但考虑Ko Yo Chemical(集团)目前面临的风险同样重要。例如,我们发现了 2 个警告标志 为了更好地了解光洋化学(集团),你应该仔细观察。
在这篇文章中,我们研究了许多可能损害利润数字效用的因素,我们持谨慎态度。但是还有很多其他方法可以告诉你对公司的看法。例如,许多人认为高股本回报率表明商业经济状况良好,而另一些人则喜欢 “关注资金”,寻找内部人士正在买入的股票。虽然可能需要你进行一些研究,但你可能会发现这一点 免费的 一系列拥有高股本回报率的公司,或者这份内部人士为了有用而买入的股票清单。
对这篇文章有反馈吗?对内容感到担忧? 取得联系 直接和我们联系。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St 的这篇文章本质上是一般性的。 我们仅使用不偏不倚的方法根据历史数据和分析师预测提供评论,我们的文章并非旨在提供财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能未将最新的价格敏感型公司公告或定性材料考虑在内。简而言之,华尔街对上述任何股票都没有头寸。
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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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