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Lotus Horizon Holdings Limited's (HKG:6063) 47% Price Boost Is Out Of Tune With Revenues
Lotus Horizon Holdings Limited's (HKG:6063) 47% Price Boost Is Out Of Tune With Revenues
Despite an already strong run, Lotus Horizon Holdings Limited (HKG:6063) shares have been powering on, with a gain of 47% in the last thirty days. Looking back a bit further, it's encouraging to see the stock is up 45% in the last year.
Since its price has surged higher, when almost half of the companies in Hong Kong's Construction industry have price-to-sales ratios (or "P/S") below 0.3x, you may consider Lotus Horizon Holdings as a stock probably not worth researching with its 1.3x P/S ratio. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the elevated P/S.
View our latest analysis for Lotus Horizon Holdings
How Lotus Horizon Holdings Has Been Performing
For example, consider that Lotus Horizon Holdings' financial performance has been poor lately as its revenue has been in decline. One possibility is that the P/S is high because investors think the company will still do enough to outperform the broader industry in the near future. However, if this isn't the case, investors might get caught out paying too much for the stock.
Want the full picture on earnings, revenue and cash flow for the company? Then our free report on Lotus Horizon Holdings will help you shine a light on its historical performance.What Are Revenue Growth Metrics Telling Us About The High P/S?
There's an inherent assumption that a company should outperform the industry for P/S ratios like Lotus Horizon Holdings' to be considered reasonable.
Taking a look back first, the company's revenue growth last year wasn't something to get excited about as it posted a disappointing decline of 8.5%. As a result, revenue from three years ago have also fallen 10% overall. Accordingly, shareholders would have felt downbeat about the medium-term rates of revenue growth.
Comparing that to the industry, which is predicted to deliver 13% growth in the next 12 months, the company's downward momentum based on recent medium-term revenue results is a sobering picture.
In light of this, it's alarming that Lotus Horizon Holdings' P/S 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/S falls to levels more in line with the recent negative growth rates.
The Bottom Line On Lotus Horizon Holdings' P/S
Lotus Horizon Holdings' P/S is on the rise since its shares have risen strongly. Using the price-to-sales ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.
We've established that Lotus Horizon Holdings currently trades on a much higher than expected P/S since its recent revenues have been in decline over the medium-term. Right now we aren't comfortable with the high P/S as this revenue performance is highly unlikely to support such positive sentiment for long. Should recent medium-term revenue trends persist, it would pose a significant risk to existing shareholders' investments and prospective investors will have a hard time accepting the current value of the stock.
Don't forget that there may be other risks. For instance, we've identified 3 warning signs for Lotus Horizon Holdings (2 are a bit unpleasant) you should be aware of.
If companies with solid past earnings growth is up your alley, you may wish to see this free collection of other companies with strong earnings growth and low P/E ratios.
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.
尽管已经表现强劲,但莲花地平线控股有限公司(HKG:6063)的股价一直在上涨,在过去三十天中上涨了47%。再往前看,令人鼓舞的是,该股去年上涨了45%。
由于Lotus Horizon Holdings的价格飙升,当香港建筑业中将近一半的公司的市售率(或 “市盈率”)低于0.3倍时,你可以将Lotus Horizon Holdings视为一只可能不值得研究的股票,其市盈率为1.3倍。尽管如此,我们需要更深入地挖掘才能确定市盈率上升是否有合理的基础。
查看我们对莲花地平线控股的最新分析
莲花地平线控股的表现如何
例如,考虑一下,由于收入下降,Lotus Horizon Holdings最近的财务表现不佳。一种可能性是市盈率很高,因为投资者认为该公司的表现仍然足以在不久的将来跑赢整个行业。但是,如果不是这样,投资者可能会被困为股票支付过多的费用。
想全面了解公司的收益、收入和现金流吗?然后,我们关于Lotus Horizon Holdings的免费报告将帮助您了解其历史表现。关于高市盈率,收入增长指标告诉我们什么?
有一种固有的假设是,如果像Lotus Horizon Holdings这样的市盈率被认为是合理的,一家公司的表现应该超过该行业。
首先回顾一下,该公司去年的收入增长并不令人兴奋,因为它公布了令人失望的8.5%的下降。结果,三年前的收入总体上也下降了10%。因此,股东们会对中期收入增长率感到悲观。
与该行业相比,该行业预计将在未来12个月内实现13%的增长,根据最近的中期收入业绩,该公司的下行势头令人发人深省。
有鉴于此,令人震惊的是,Lotus Horizon Holdings的市盈率高于大多数其他公司。显然,该公司的许多投资者比最近所表明的要看涨得多,他们不愿以任何价格抛售股票。如果市盈率降至与最近的负增长率更加一致的水平,现有股东很有可能为未来的失望做好准备。
Lotus Horizon Holdings P/S的底线
自股价强劲上涨以来,Lotus Horizon Holdings的市盈率一直在上升。仅使用市售比率来确定是否应该出售股票是不明智的,但是它可以作为公司未来前景的实用指南。
我们已经确定,Lotus Horizon Holdings目前的市盈率远高于预期,因为其最近的收入在中期内一直在下降。目前,我们对高市盈率不满意,因为这种收入表现极不可能长期支撑这种乐观情绪。如果最近的中期收入趋势持续下去,将对现有股东的投资构成重大风险,潜在投资者将很难接受股票的当前价值。
别忘了可能还有其他风险。例如,我们已经为Lotus Horizon Holdings确定了3个警告信号(其中2个有点不愉快),你应该注意。
如果过去盈利增长稳健的公司处于困境,那么你可能希望看到这些盈利增长强劲、市盈率低的其他公司的免费集合。
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。
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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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