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Subdued Growth No Barrier To Space Group Holdings Limited's (HKG:2448) Price
Subdued Growth No Barrier To Space Group Holdings Limited's (HKG:2448) Price
With a price-to-earnings (or "P/E") ratio of 67.5x Space Group Holdings Limited (HKG:2448) may be sending very bearish signals at the moment, given that almost half of all companies in Hong Kong have P/E ratios under 9x 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.
As an illustration, earnings have deteriorated at Space Group Holdings over the last year, which is not ideal at all. It might be that many expect the company to still outplay most other companies over the coming period, which has kept the P/E from collapsing. If not, then existing shareholders may be quite nervous about the viability of the share price.
Check out our latest analysis for Space Group Holdings
SEHK:2448 Price Based on Past Earnings September 6th 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 Space Group Holdings' earnings, revenue and cash flow.What Are Growth Metrics Telling Us About The High P/E?
The only time you'd be truly comfortable seeing a P/E as steep as Space Group Holdings' is when the company's growth is on track to outshine the market decidedly.
Retrospectively, the last year delivered a frustrating 19% decrease to the company's bottom line. As a result, earnings from three years ago have also fallen 39% 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 22% over the next year, which really puts the company's recent medium-term earnings decline into perspective.
In light of this, it's alarming that Space Group Holdings' P/E sits above the majority of other companies. Apparently many investors in the company are way more bullish than recent times would indicate and aren't willing to let go of their stock at any price. 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 Key Takeaway
We'd say the price-to-earnings ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.
Our examination of Space Group Holdings 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.
It's always necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Space Group Holdings, and understanding them should be part of your investment process.
If P/E ratios interest you, you may wish to see this free collection of other companies that have grown earnings strongly and trade on P/E's 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.
市盈率(P/E)为67.5倍空间集团控股有限公司香港上市公司(HKG:2448)目前可能发出了非常悲观的信号,因为几乎一半的香港公司的市盈率低于9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。
举个例子,太空集团控股公司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的表现仍将好于大多数其他公司,这使得市盈率没有崩溃。如果不是,那么现有股东可能会对股价的生存能力感到相当紧张。
查看我们对Space Group Holdings的最新分析
联交所:2448基于过去收益的价格2022年9月6日我们没有分析师的预测,但您可以通过查看我们的免费报告空间集团控股公司的收益、收入和现金流。增长指标告诉我们关于高市盈率的哪些信息?
唯一能让你真正放心地看到像Space Group Holdings这样高的市盈率的时候,就是该公司的增长势头明显好于大盘的时候。
回顾过去一年,该公司的利润令人沮丧地下降了19%。因此,三年前的整体收益也下降了39%。因此,股东们会对中期盈利增长率感到悲观。
与该公司形成鲜明对比的是,预计其他市场在未来一年将增长22%,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。
有鉴于此,太空集团控股公司的市盈率高于其他大多数公司,这令人担忧。显然,该公司的许多投资者比最近的情况所显示的要乐观得多,不愿以任何价格抛售他们的股票。如果市盈率下降到与最近负增长更一致的水平,现有股东很有可能会让自己未来感到失望。
关键的外卖
我们会说,市盈率的力量主要不是作为一种估值工具,而是衡量当前投资者的情绪和未来预期。
我们对Space Group Holdings的调查显示,考虑到市场将会增长,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么大。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。
总是有必要考虑到投资风险的幽灵无处不在。我们已经确认了空间集团控股公司的2个警告标志,理解它们应该是你投资过程的一部分。
如果你对市盈率感兴趣,你可能想看看这个免费其他盈利增长强劲、市盈率低于20倍的公司。
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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