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Aowei Holding Limited's (HKG:1370) Price Is Out Of Tune With Earnings
Aowei Holding Limited's (HKG:1370) Price Is Out Of Tune With Earnings
When close to half the companies in Hong Kong have price-to-earnings ratios (or "P/E's") below 8x, you may consider Aowei Holding Limited (HKG:1370) as a stock to potentially avoid with its 12.7x P/E ratio. However, the P/E might be high for a reason and it requires further investigation to determine if it's justified.
For example, consider that Aowei Holding's financial performance has been poor lately as it's earnings have been in decline. 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. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
View our latest analysis for Aowei Holding
SEHK:1370 Price Based on Past Earnings December 22nd 2022 Although there are no analyst estimates available for Aowei Holding, take a look at this free data-rich visualisation to see how the company stacks up on earnings, revenue and cash flow.What Are Growth Metrics Telling Us About The High P/E?
Aowei Holding's P/E ratio would be typical for a company that's expected to deliver solid growth, and importantly, perform better than the market.
Taking a look back first, the company's earnings per share growth last year wasn't something to get excited about as it posted a disappointing decline of 36%. Still, the latest three year period has seen an excellent 57% overall rise in EPS, in spite of its unsatisfying short-term performance. Although it's been a bumpy ride, it's still fair to say the earnings growth recently has been more than adequate for the company.
Comparing that to the market, which is predicted to deliver 17% growth in the next 12 months, the company's momentum is pretty similar based on recent medium-term annualised earnings results.
In light of this, it's curious that Aowei Holding's P/E sits above the majority of other companies. Apparently many investors in the company are more bullish than recent times would indicate and aren't willing to let go of their stock right now. Although, additional gains will be difficult to achieve as a continuation of recent earnings trends would weigh down the share price eventually.
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.
We've established that Aowei Holding currently trades on a higher than expected P/E since its recent three-year growth is only in line with the wider market forecast. Right now we are uncomfortable with the high P/E as this earnings performance isn't likely to support such positive sentiment for long. If recent medium-term earnings trends continue, it will place shareholders' investments at risk and potential investors in danger of paying an unnecessary premium.
It is also worth noting that we have found 2 warning signs for Aowei Holding (1 is concerning!) that you need to take into consideration.
If you're unsure about the strength of Aowei Holding's business, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.
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.
当接近一半的香港公司的市盈率(或“市盈率”)低于8倍时,你可以考虑奥维控股有限公司(HKG:1370)作为一只股票,其市盈率为12.7倍,可能会避免。然而,市盈率高可能是有原因的,需要进一步调查才能确定它是否合理。
例如,考虑到奥维控股最近的财务表现一直很差,因为它的收益一直在下降。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。你真的希望如此,否则你会无缘无故地付出相当大的代价。
查看我们对奥维控股的最新分析
联交所:1370基于过去收益的价格2022年12月22日虽然没有分析师对奥维控股的估计,但看看这个免费丰富的数据可视化,看看公司的收益、收入和现金流是如何堆积的。增长指标告诉我们关于高市盈率的哪些信息?
对于一家有望实现稳健增长,而且重要的是表现好于大盘的公司来说,奥维控股的市盈率将是典型的。
先回过头来看,该公司去年的每股收益增长并不值得兴奋,因为它公布了令人失望的36%的降幅。尽管短期表现不尽如人意,但在最近三年的时间里,每股收益的整体涨幅达到了57%。尽管这是一段坎坷的旅程,但公平地说,最近的收益增长对公司来说已经绰绰有余。
与预计未来12个月将实现17%增长的市场相比,根据最近的中期年化收益结果,该公司的增长势头非常相似。
有鉴于此,奥维控股的市盈率高于其他大多数公司,这很奇怪。显然,该公司的许多投资者比最近的情况所显示的更加乐观,他们现在不愿抛售自己的股票。尽管如此,进一步的收益将很难实现,因为最近收益趋势的持续最终会拖累股价。
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。
我们已经确定,奥维控股目前的市盈率高于预期,因为其最近三年的增长只是与更广泛的市场预测一致。目前,我们对高市盈率感到不安,因为这种盈利表现不太可能长期支撑这种积极情绪。如果近期的中期盈利趋势持续下去,将使股东的投资面临风险,潜在投资者面临支付不必要溢价的危险。
同样值得注意的是,我们发现奥维控股的2个警告标志(1是关于!)这是你需要考虑的。
如果你.不确定奥维控股的业务实力,为什么不探索我们的互动列表,为其他一些你可能没有达到预期的公司提供坚实的商业基本面。
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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