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Subdued Growth No Barrier To Zhejiang Changhua Auto Parts Co., Ltd.'s (SHSE:605018) Price
Subdued Growth No Barrier To Zhejiang Changhua Auto Parts Co., Ltd.'s (SHSE:605018) Price
When close to half the companies in China have price-to-earnings ratios (or "P/E's") below 30x, you may consider Zhejiang Changhua Auto Parts Co., Ltd. (SHSE:605018) as a stock to potentially avoid with its 40x P/E ratio. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's lofty.
We'd have to say that with no tangible growth over the last year, Zhejiang Changhua Auto Parts' earnings have been unimpressive. It might be that many are expecting an improvement to the uninspiring earnings performance 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.
Check out our latest analysis for Zhejiang Changhua Auto Parts
SHSE:605018 Price Based on Past Earnings April 21st 2022 We don't have analyst forecasts, but you can see how recent trends are setting up the company for the future by checking out our free report on Zhejiang Changhua Auto Parts' earnings, revenue and cash flow.Is There Enough Growth For Zhejiang Changhua Auto Parts?
There's an inherent assumption that a company should outperform the market for P/E ratios like Zhejiang Changhua Auto Parts' to be considered reasonable.
Taking a look back first, we see that there was hardly any earnings per share growth to speak of for the company over the past year. Whilst it's an improvement, it wasn't enough to get the company out of the hole it was in, with earnings down 13% overall from three years ago. So unfortunately, we have to acknowledge that the company has not done a great job of growing earnings over that time.
In contrast to the company, the rest of the market is expected to grow by 34% over the next year, which really puts the company's recent medium-term earnings decline into perspective.
In light of this, it's alarming that Zhejiang Changhua Auto Parts' P/E sits above the majority of other companies. It seems most investors are ignoring the recent poor growth rate and are hoping for a turnaround in the company's business prospects. Only the boldest would assume these prices are sustainable as a continuation of recent earnings trends is likely to weigh heavily on the share price eventually.
What We Can Learn From Zhejiang Changhua Auto Parts' P/E?
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.
Our examination of Zhejiang Changhua Auto Parts revealed its shrinking earnings over the medium-term aren't impacting its high P/E anywhere near as much as we would have predicted, given the market is set to grow. Right now we are increasingly uncomfortable with the high P/E as this earnings performance is highly unlikely to support such positive sentiment for long. Unless the recent medium-term conditions improve markedly, it's very challenging to accept these prices as being reasonable.
It's always necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Zhejiang Changhua Auto Parts (at least 1 which can't be ignored), and understanding these should be part of your investment process.
You might be able to find a better investment than Zhejiang Changhua Auto Parts. If you want a selection of possible candidates, check out this free list of interesting companies that trade on a P/E below 20x (but have proven they can grow earnings).
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.
When close to half the companies in China have price-to-earnings ratios (or "P/E's") below 30x, you may consider Zhejiang Changhua Auto Parts Co., Ltd. (SHSE:605018) as a stock to potentially avoid with its 40x P/E ratio. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's lofty.
当近一半的中国公司的市盈率(或市盈率)低于30倍时,你可以考虑浙江昌化汽车配件有限公司。(上交所:605018)作为一只股票,其40倍的市盈率可能会避免。然而,仅仅从表面上看待市盈率是不明智的,因为可能会有一个解释为什么它是高的。
We'd have to say that with no tangible growth over the last year, Zhejiang Changhua Auto Parts' earnings have been unimpressive. It might be that many are expecting an improvement to the uninspiring earnings performance 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.
我们不得不说,在过去一年没有明显增长的情况下,浙江彰化汽车零部件的收益并不令人印象深刻。这可能是因为许多人预计未来一段时间平淡无奇的盈利表现会有所改善,这使得市盈率不会崩溃。你真的希望如此,否则你会无缘无故地付出相当大的代价。
Check out our latest analysis for Zhejiang Changhua Auto Parts
查看我们对浙江彰化汽车零部件的最新分析
Is There Enough Growth For Zhejiang Changhua Auto Parts?
浙江彰化汽车零部件是否有足够的增长?
There's an inherent assumption that a company should outperform the market for P/E ratios like Zhejiang Changhua Auto Parts' to be considered reasonable.
有一种固有的假设,即一家公司的市盈率应该超过市场,就像浙江彰化汽车零部件公司的市盈率被认为是合理的。
Taking a look back first, we see that there was hardly any earnings per share growth to speak of for the company over the past year. Whilst it's an improvement, it wasn't enough to get the company out of the hole it was in, with earnings down 13% overall from three years ago. So unfortunately, we have to acknowledge that the company has not done a great job of growing earnings over that time.
先回过头来看,过去一年,该公司的每股收益几乎没有任何增长。虽然这是一个改善,但还不足以让公司走出困境,总体收益比三年前下降了13%。因此,不幸的是,我们不得不承认,在这段时间里,该公司在盈利增长方面做得并不出色。
In contrast to the company, the rest of the market is expected to grow by 34% over the next year, which really puts the company's recent medium-term earnings decline into perspective.
与该公司形成鲜明对比的是,市场其他部分预计明年将增长34%,这确实让人对该公司最近中期收益的下降有了正确的认识。
In light of this, it's alarming that Zhejiang Changhua Auto Parts' P/E sits above the majority of other companies. It seems most investors are ignoring the recent poor growth rate and are hoping for a turnaround in the company's business prospects. Only the boldest would assume these prices are sustainable as a continuation of recent earnings trends is likely to weigh heavily on the share price eventually.
有鉴于此,浙江彰化汽车零部件公司的市盈率高于其他大多数公司,这是令人担忧的。似乎大多数投资者都忽视了最近糟糕的增长率,并希望该公司的业务前景有所好转。只有最大胆的人才会认为这些价格是可持续的,因为最近盈利趋势的延续最终可能会对股价造成沉重压力。
What We Can Learn From Zhejiang Changhua Auto Parts' P/E?
浙江彰化汽配市盈率对我们有何启示?
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.
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。
Our examination of Zhejiang Changhua Auto Parts revealed its shrinking earnings over the medium-term aren't impacting its high P/E anywhere near as much as we would have predicted, given the market is set to grow. Right now we are increasingly uncomfortable with the high P/E as this earnings performance is highly unlikely to support such positive sentiment for long. Unless the recent medium-term conditions improve markedly, it's very challenging to accept these prices as being reasonable.
我们对浙江彰化汽车零部件的调查显示,考虑到市场的增长,该公司中期收益的缩水对其高市盈率的影响并不像我们预期的那么大。目前,我们对高市盈率越来越感到不安,因为这种盈利表现不太可能长期支持这种积极情绪。除非最近的中期状况明显改善,否则要接受这些价格是合理的是非常具有挑战性的。
It's always necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Zhejiang Changhua Auto Parts (at least 1 which can't be ignored), and understanding these should be part of your investment process.
总是有必要考虑到投资风险的幽灵无处不在。我们已经为浙江彰化汽车配件公司确定了两个警示标志(至少有一个不容忽视),了解这些标志应该是你投资过程的一部分。
You might be able to find a better investment than Zhejiang Changhua Auto Parts. If you want a selection of possible candidates, check out this free list of interesting companies that trade on a P/E below 20x (but have proven they can grow earnings).
你也许能找到比浙江彰化汽车配件更好的投资。如果您想要选择可能的候选人,请查看以下内容免费令人感兴趣的市盈率低于20倍的公司名单(但已证明它们可以增加收益)。
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。
这篇由《华尔街日报》撰写的文章本质上是笼统的。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。简单地说,华尔街在提到的任何股票中都没有头寸。
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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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