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Why NetDragon Websoft Holdings' (HKG:777) Shaky Earnings Are Just The Beginning Of Its Problems

Why NetDragon Websoft Holdings' (HKG:777) Shaky Earnings Are Just The Beginning Of Its Problems

为什么网龙网软控股公司(HKG: 777)不稳定的收益仅仅是问题的开始
Simply Wall St ·  04/03 19:28

Last week's earnings announcement from NetDragon Websoft Holdings Limited (HKG:777) was disappointing to investors, with a sluggish profit figure. We did some analysis, and found that there are some reasons to be cautious about the headline numbers.

网龙网络控股有限公司(HKG: 777)上周公布的财报令投资者失望,盈利数字低迷。我们做了一些分析,发现有一些理由对标题数字持谨慎态度。

earnings-and-revenue-history
SEHK:777 Earnings and Revenue History April 3rd 2024
SEHK: 777 2024 年 4 月 3 日的收益和收入记录

How Do Unusual Items Influence Profit?

不寻常的物品如何影响利润?

Importantly, our data indicates that NetDragon Websoft Holdings' profit received a boost of CN¥75m in unusual items, over the last year. We can't deny that higher profits generally leave us optimistic, but we'd prefer it if the profit were to be sustainable. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. Which is hardly surprising, given the name. Assuming those unusual items don't show up again in the current year, we'd thus expect profit to be weaker next year (in the absence of business growth, that is).

重要的是,我们的数据表明,网龙网软控股的利润比去年增加了7500万元人民币的不寻常项目。我们不能否认更高的利润通常会让我们感到乐观,但如果利润是可持续的,我们更愿意这样做。当我们分析全球绝大多数上市公司时,我们发现重大不寻常的事项往往不会重演。考虑到这个名字,这并不奇怪。假设这些不寻常的项目在本年度不会再次出现,因此我们预计明年的利润将疲软(也就是说,在业务没有增长的情况下)。

That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.

这可能会让你想知道分析师对未来盈利能力的预测。幸运的是,您可以单击此处查看根据他们的估计描绘未来盈利能力的交互式图表。

Our Take On NetDragon Websoft Holdings' Profit Performance

我们对网龙网软控股盈利表现的看法

Arguably, NetDragon Websoft Holdings' statutory earnings have been distorted by unusual items boosting profit. Therefore, it seems possible to us that NetDragon Websoft Holdings' true underlying earnings power is actually less than its statutory profit. In further bad news, its earnings per share decreased in the last year. 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. If you'd like to know more about NetDragon Websoft Holdings as a business, it's important to be aware of any risks it's facing. For example, we've discovered 1 warning sign that you should run your eye over to get a better picture of NetDragon Websoft Holdings.

可以说,网龙网软控股的法定收益被提高利润的不寻常项目所扭曲。因此,在我们看来,网龙网软控股的真正基础盈利能力实际上可能低于其法定利润。另一个坏消息是,其每股收益在去年有所下降。归根结底,如果你想正确地了解公司,必须考虑的不仅仅是上述因素。如果您想进一步了解网龙网软控股作为一家企业,请务必了解其面临的任何风险。例如,我们发现了一个警告信号,为了更好地了解网龙网软控股公司,你应该仔细观察一下。

This note has only looked at a single factor that sheds light on the nature of NetDragon Websoft Holdings' 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. 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.

这份报告只考虑了揭示网龙网软控股利润性质的单一因素。但是,如果你能够将注意力集中在细节上,总会有更多的事情需要发现。例如,许多人认为高股本回报率是有利的商业经济的标志,而另一些人则喜欢 “关注资金”,寻找内部人士正在买入的股票。因此,你可能希望看到这份免费收藏的拥有高股本回报率的公司,或者这份内部人士正在购买的股票清单。

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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.

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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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