The recent earnings posted by Hong Kong Economic Times Holdings Limited (HKG:423) were solid, but the stock didn't move as much as we expected. We think this is due to investors looking beyond the statutory profits and being concerned with what they see.
View our latest analysis for Hong Kong Economic Times Holdings
SEHK:423 Earnings and Revenue History November 28th 2022
How Do Unusual Items Influence Profit?
To properly understand Hong Kong Economic Times Holdings' profit results, we need to consider the HK$33m gain attributed to unusual items. We can't deny that higher profits generally leave us optimistic, but we'd prefer it if the profit were to be sustainable. We ran the numbers on most publicly listed companies worldwide, and it's very common for unusual items to be once-off in nature. And, after all, that's exactly what the accounting terminology implies. Hong Kong Economic Times Holdings had a rather significant contribution from unusual items relative to its profit to September 2022. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Hong Kong Economic Times Holdings.
Our Take On Hong Kong Economic Times Holdings' Profit Performance
As previously mentioned, Hong Kong Economic Times Holdings' large boost from unusual items won't be there indefinitely, so its statutory earnings are probably a poor guide to its underlying profitability. As a result, we think it may well be the case that Hong Kong Economic Times Holdings' underlying earnings power is lower than its statutory profit. Nonetheless, it's still worth noting that its earnings per share have grown at 12% over the last three years. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. To that end, you should learn about the 4 warning signs we've spotted with Hong Kong Economic Times Holdings (including 2 which are potentially serious).
Today we've zoomed in on a single data point to better understand the nature of Hong Kong Economic Times Holdings' profit. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.
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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.
最近發佈的收益為香港經濟時報集團有限公司(HKG:423)表現穩健,但股價走勢沒有我們預期的那麼大。我們認為,這是由於投資者將目光投向了法定利潤之外,而關注的是他們所看到的。
查看我們對香港經濟時報控股的最新分析
聯交所:423盈利及收入歷史2022年11月28日
不尋常的項目如何影響利潤?
要正確理解香港經濟時報控股有限公司的盈利業績,我們需要考慮一下被歸因於不尋常項目的3300萬港元收益。我們不能否認,更高的利潤通常會讓我們保持樂觀,但如果利潤是可持續的,我們更願意這樣做。我們對全球大多數上市公司進行了統計,不尋常的項目在性質上是一次性的,這是非常常見的。畢竟,這正是會計術語所暗示的。香港經濟時報控股有限公司(Hong Kong Economic Times Holdings)在截至2022年9月的利潤中,來自異常項目的貢獻相當大。因此,我們可以推測,這些不尋常的項目使其法定利潤比其他情況下要強勁得多。
注:我們總是建議投資者檢查資產負債表的實力。點擊此處查看我們對香港經濟時報控股公司的資產負債表分析。
我們對香港經濟時報控股公司盈利表現的看法
正如前面提到的,香港經濟時報控股有限公司從不尋常項目中獲得的巨大提振不會無限期地存在,因此其法定收益可能不能很好地反映其潛在盈利能力。因此,我們認為很可能是香港經濟時報控股的潛在盈利能力低於其法定利潤。儘管如此,值得注意的是,它的每股收益在過去三年裏以12%的速度增長。當然,當談到分析其收益時,我們只是觸及了皮毛;人們還可以考慮利潤率、預測增長和投資回報等因素。有鑑於此,如果你想對公司做更多的分析,瞭解其中的風險是至關重要的。為此,您應該瞭解4個警示標誌我們已經發現了香港經濟時報控股公司(包括兩家潛在的嚴重公司)。
今天,我們放大了一個數據點,以更好地瞭解香港經濟時報控股公司的利潤性質。但如果你有能力將注意力集中在細枝末節上,總會有更多的東西需要發現。一些人認為,高股本回報率是高質量企業的良好標誌。所以你可能想看看這個免費擁有高股本回報率的公司的集合,或內部人士正在購買的這份股票清單。
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本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。