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Why Investors Shouldn't Be Surprised By K. Wah International Holdings Limited's (HKG:173) Low P/E
Why Investors Shouldn't Be Surprised By K. Wah International Holdings Limited's (HKG:173) Low P/E
With a price-to-earnings (or "P/E") ratio of 2.1x K. Wah International Holdings Limited (HKG:173) may be sending very bullish signals at the moment, given that almost half of all companies in Hong Kong have P/E ratios greater than 9x and even P/E's higher than 19x are not unusual. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the highly reduced P/E.
With its earnings growth in positive territory compared to the declining earnings of most other companies, K. Wah International Holdings has been doing quite well of late. It might be that many expect the strong earnings performance to degrade substantially, possibly more than the market, which has repressed the P/E. If not, then existing shareholders have reason to be quite optimistic about the future direction of the share price.
See our latest analysis for K. Wah International Holdings
SEHK:173 Price Based on Past Earnings September 30th 2022 If you'd like to see what analysts are forecasting going forward, you should check out our free report on K. Wah International Holdings.How Is K. Wah International Holdings' Growth Trending?
There's an inherent assumption that a company should far underperform the market for P/E ratios like K. Wah International Holdings' to be considered reasonable.
Taking a look back first, we see that the company grew earnings per share by an impressive 146% last year. Despite this strong recent growth, it's still struggling to catch up as its three-year EPS frustratingly shrank by 26% overall. Accordingly, shareholders would have felt downbeat about the medium-term rates of earnings growth.
Looking ahead now, EPS is anticipated to slump, contracting by 58% during the coming year according to the lone analyst following the company. That's not great when the rest of the market is expected to grow by 20%.
With this information, we are not surprised that K. Wah International Holdings is trading at a P/E lower than the market. Nonetheless, there's no guarantee the P/E has reached a floor yet with earnings going in reverse. Even just maintaining these prices could be difficult to achieve as the weak outlook is weighing down the shares.
What We Can Learn From K. Wah International Holdings' P/E?
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 K. Wah International Holdings' analyst forecasts revealed that its outlook for shrinking earnings is contributing to its low P/E. Right now shareholders are accepting the low P/E as they concede future earnings probably won't provide any pleasant surprises. It's hard to see the share price rising strongly in the near future under these circumstances.
Having said that, be aware K. Wah International Holdings is showing 2 warning signs in our investment analysis, and 1 of those is a bit unpleasant.
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2.1倍嘉华国际控股有限公司香港上市公司(HKG:173)目前可能发出了非常看涨的信号,因为几乎一半的香港公司的市盈率超过9倍,即使市盈率高于19倍也并不罕见。尽管如此,我们还需要更深入地挖掘,以确定市盈率大幅下降是否有合理的基础。
与大多数其他公司盈利下降的情况相比,嘉华国际的盈利增长处于正值区间,该公司最近的表现相当不错。许多人可能预计强劲的盈利表现将大幅下降,可能比抑制市盈率的市场更严重。如果不是这样,那么现有股东有理由对股价未来的走势相当乐观。
查看我们对嘉华国际控股的最新分析
联交所:173基于过去盈利的价格2022年9月30日如果你想知道分析师对未来的预测,你应该查看我们的免费嘉华国际控股有限公司的报告。嘉华国际控股的增长趋势如何?
有一种固有的假设,即一家公司的市盈率应该远远逊于市场,才能被认为是合理的。
首先回顾一下,我们看到该公司去年每股收益增长了146%,令人印象深刻。尽管最近增长强劲,但它仍在努力追赶,因为其三年期每股收益总体上令人沮丧地缩水了26%。因此,股东们会对中期盈利增长率感到悲观。
据跟踪该公司的唯一分析师称,展望未来,每股收益预计将大幅下滑,来年将收缩58%。在其他市场预计将增长20%的情况下,这并不是很好。
有了这些信息,我们对嘉华国际控股的市盈率低于市场并不感到惊讶。尽管如此,不能保证市盈率已经触底,盈利出现了逆转。即使只是维持这些价格也可能很难实现,因为疲软的前景正在拖累股价。
我们可以从嘉华国际控股的市盈率中学到什么?
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,我们对嘉华国际控股的分析师预测进行了审查,结果显示,该公司盈利缩水的前景是导致其低市盈率的原因之一。目前,股东们正在接受低市盈率,因为他们承认,未来的收益可能不会带来任何令人愉快的惊喜。在这种情况下,很难看到股价在不久的将来强劲上涨。
话虽如此,但请注意嘉华国际控股有限公司出现两个警示信号在我们的投资分析中,其中1个有点令人不快。
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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