Courage Investment Group Limited's (HKG:1145) robust earnings report didn't manage to move the market for its stock. Our analysis suggests that shareholders have noticed something concerning in the numbers.
See our latest analysis for Courage Investment Group
SEHK:1145 Earnings and Revenue History October 5th 2022
How Do Unusual Items Influence Profit?
For anyone who wants to understand Courage Investment Group's profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit gained from US$5.7m worth of unusual items. 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. And that's as you'd expect, given these boosts are described as 'unusual'. We can see that Courage Investment Group's positive unusual items were quite significant relative to its profit in the year to June 2022. All else being equal, this would likely have the effect of making the statutory profit a poor guide to underlying earnings power.
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Courage Investment Group.
Our Take On Courage Investment Group's Profit Performance
As previously mentioned, Courage Investment Group's large boost from unusual items won't be there indefinitely, so its statutory earnings are probably a poor guide to its underlying profitability. For this reason, we think that Courage Investment Group's statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. The good news is that it earned a profit in the last twelve months, despite its previous loss. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. So while earnings quality is important, it's equally important to consider the risks facing Courage Investment Group at this point in time. For example, Courage Investment Group has 2 warning signs (and 1 which can't be ignored) we think you should know about.
This note has only looked at a single factor that sheds light on the nature of Courage Investment Group's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. 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.
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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.
勇气投资集团有限公司(HKG:1145)强劲的盈利报告未能推动其股票的市场走势。我们的分析表明,股东们注意到了数字中的一些令人担忧的地方。
查看我们对Courage Investment Group的最新分析
联交所:1145盈利及收入历史2022年10月5日
不寻常的项目如何影响利润?
对于任何想要了解勇气投资集团利润的人来说,重要的是要注意到,在过去12个月里,从价值570万美元的不寻常项目中获得了法定利润。虽然我们喜欢看到利润增加,但当不寻常的项目做出了很大贡献时,我们往往会更加谨慎。当我们分析了数千家上市公司的数据时,我们发现,在给定的一年中,不寻常的项目往往会带来提振不第二年又重复了一遍。考虑到这些提振被描述为“不寻常的”,这正如你所预期的那样。我们可以看到,在截至2022年6月的一年中,勇气投资集团的积极异常项目与其利润相比相当重要。在其他条件不变的情况下,这可能会使法定利润成为衡量潜在盈利能力的糟糕指标。
注:我们总是建议投资者检查资产负债表的实力。点击此处进入我们对勇气投资集团的资产负债表分析。
我们对勇气投资集团盈利表现的看法
正如前面提到的,勇气投资集团从不寻常项目中获得的巨大提振不会无限期地存在,因此该集团的法定收益可能不能很好地反映其潜在盈利能力。出于这个原因,我们认为,勇气投资集团的法定利润可能不是其潜在盈利能力的不良指引,可能会给投资者带来对该公司过于乐观的印象。好消息是,尽管之前出现了亏损,但该公司在过去12个月里实现了盈利。归根结底,如果你想正确地了解这家公司,除了以上几个因素之外,考虑其他因素也是至关重要的。因此,尽管盈利质量很重要,但考虑到勇气投资集团目前面临的风险也同样重要。例如,勇气投资集团有2个警告标志(还有一个不容忽视)我们认为你应该知道这一点。
这份报告只关注了一个因素,它揭示了勇气投资集团的利润性质。但如果你有能力将注意力集中在细枝末节上,总会有更多的东西需要发现。例如,许多人认为高股本回报率是有利的商业经济指标,而另一些人则喜欢“跟着钱走”,寻找内部人士正在买入的股票。虽然这可能需要为您做一些研究,但您可能会发现免费拥有高股本回报率的公司的集合,或者是内部人士购买的有用的股票清单。
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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。