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Xiamen Annie Co., Ltd. (SZSE:002235) Shares May Have Slumped 25% But Getting In Cheap Is Still Unlikely
Xiamen Annie Co., Ltd. (SZSE:002235) Shares May Have Slumped 25% But Getting In Cheap Is Still Unlikely
Unfortunately for some shareholders, the Xiamen Annie Co., Ltd. (SZSE:002235) share price has dived 25% in the last thirty days, prolonging recent pain. Instead of being rewarded, shareholders who have already held through the last twelve months are now sitting on a 38% share price drop.
Even after such a large drop in price, given around half the companies in China's Forestry industry have price-to-sales ratios (or "P/S") below 1.6x, you may still consider Xiamen Annie as a stock to avoid entirely with its 8.2x P/S ratio. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the highly elevated P/S.
What Does Xiamen Annie's P/S Mean For Shareholders?
As an illustration, revenue has deteriorated at Xiamen Annie over the last year, which is not ideal at all. It might be that many expect the company to still outplay most other companies over the coming period, which has kept the P/S from collapsing. However, if this isn't the case, investors might get caught out paying too much for the stock.
Although there are no analyst estimates available for Xiamen Annie, take a look at this free data-rich visualisation to see how the company stacks up on earnings, revenue and cash flow.What Are Revenue Growth Metrics Telling Us About The High P/S?
Xiamen Annie's P/S ratio would be typical for a company that's expected to deliver very strong growth, and importantly, perform much better than the industry.
Retrospectively, the last year delivered a frustrating 30% decrease to the company's top line. As a result, revenue from three years ago have also fallen 24% overall. So unfortunately, we have to acknowledge that the company has not done a great job of growing revenue over that time.
In contrast to the company, the rest of the industry is expected to grow by 14% over the next year, which really puts the company's recent medium-term revenue decline into perspective.
With this information, we find it concerning that Xiamen Annie is trading at a P/S higher than the industry. 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 Key Takeaway
Even after such a strong price drop, Xiamen Annie's P/S still exceeds the industry median significantly. We'd say the price-to-sales ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.
Our examination of Xiamen Annie revealed its shrinking revenue over the medium-term isn't resulting in a P/S as low as we expected, given the industry is set to grow. When we see revenue heading backwards and underperforming the industry forecasts, we feel the possibility of the share price declining is very real, bringing the P/S back into the realm of reasonability. Unless the recent medium-term conditions improve markedly, investors will have a hard time accepting the share price as fair value.
Plus, you should also learn about this 1 warning sign we've spotted with Xiamen Annie.
Of course, profitable companies with a history of great earnings growth are generally safer bets. So you may wish to see this free collection of other companies that have reasonable P/E ratios and have grown earnings strongly.
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.
对于一些股东来说,不幸的是,厦门安妮有限公司(SZSE:002235)的股价在过去三十天内下跌了25%,延续了近期的痛苦。在过去十二个月中已经持股的股东没有获得回报,反而坐视股价下跌了38%。
即使在价格大幅下跌之后,鉴于中国林业行业中约有一半的公司的市销比(或 “市销率”)低于1.6倍,您仍然可以将厦门安妮视为完全避开的股票,其市销率为8.2倍。但是,我们需要更深入地挖掘,以确定市销售率大幅上升是否有合理的依据。
厦门安妮的市销率对股东意味着什么?
举例来说,厦门安妮的收入在过去一年中有所下降,这根本不理想。许多人可能预计,在未来一段时间内,该公司的表现仍将超过大多数其他公司,这阻止了市销售率的暴跌。但是,如果不是这样,投资者可能会陷入为股票支付过多费用的困境。
尽管没有分析师对Xiamen Annie的估计,但看看这个免费的数据丰富的可视化工具,看看该公司在收益、收入和现金流方面的积累情况。收入增长指标告诉我们高市销率有哪些?
厦门安妮的市销率对于一家预计将实现非常强劲的增长,而且重要的是,其表现要好于行业的公司来说是典型的。
回顾过去,去年的公司收入下降了30%,令人沮丧。结果,三年前的总体收入也下降了24%。因此,不幸的是,我们必须承认,在这段时间内,该公司在增加收入方面做得不好。
与该公司形成鲜明对比的是,该行业的其他部门预计将在明年增长14%,这确实可以看出该公司最近的中期收入下降。
有了这些信息,我们发现厦门安妮的市销售率高于该行业。显然,该公司的许多投资者比最近所表示的要看涨得多,他们不愿意以任何价格抛售股票。如果市销率降至更符合近期负增长率的水平,现有股东很有可能为未来的失望做好准备。
关键要点
即使价格下跌如此强劲,厦门安妮的市销率仍大大超过行业中位数。我们可以说,市销比率的力量主要不是作为一种估值工具,而是用来衡量当前的投资者情绪和未来预期。
我们对厦门安妮的调查显示,鉴于该行业即将增长,其中期收入萎缩并未导致市销售率低于我们的预期。当我们看到收入倒退且表现低于行业预测时,我们认为股价下跌的可能性是真实存在的,这使市销率回到了合理的境地。除非最近的中期状况明显改善,否则投资者将很难接受股价作为公允价值。
另外,你还应该了解我们在 Xiamen Annie 身上发现的这个 1 个警告标志。
当然,具有良好收益增长历史的盈利公司通常是更安全的选择。因此,您可能希望看到这些免费收集的市盈率合理且收益增长强劲的其他公司。
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。
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