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Robust Earnings May Not Tell The Whole Story For SMIT Holdings (HKG:2239)
Robust Earnings May Not Tell The Whole Story For SMIT Holdings (HKG:2239)
The recent earnings posted by SMIT Holdings Limited (HKG:2239) were solid, but the stock didn't move as much as we expected. We think this is due to investors looking beyond the statutory profits and being concerned with what they see.
Check out our latest analysis for SMIT Holdings
SEHK:2239 Earnings and Revenue History April 29th 2022The Impact Of Unusual Items On Profit
Importantly, our data indicates that SMIT Holdings' profit received a boost of US$13m in unusual items, over the last year. While we like to see profit increases, we tend to be a little more cautious when unusual items have made a big contribution. 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. We can see that SMIT Holdings' positive unusual items were quite significant relative to its profit in the year to December 2021. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of SMIT Holdings.
Our Take On SMIT Holdings' Profit Performance
As previously mentioned, SMIT Holdings' large boost from unusual items won't be there indefinitely, so its statutory earnings are probably a poor guide to its underlying profitability. For this reason, we think that SMIT Holdings' statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. On the bright side, the company showed enough improvement to book a profit this year, after losing money last year. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. If you'd like to know more about SMIT Holdings as a business, it's important to be aware of any risks it's facing. For example, we've found that SMIT Holdings has 4 warning signs (1 is potentially serious!) that deserve your attention before going any further with your analysis.
Today we've zoomed in on a single data point to better understand the nature of SMIT 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.
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.
The recent earnings posted by SMIT Holdings Limited (HKG:2239) were solid, but the stock didn't move as much as we expected. We think this is due to investors looking beyond the statutory profits and being concerned with what they see.
最近發佈的收益為施密特控股有限公司(HKG:2239)表現穩健,但股價走勢沒有我們預期的那麼大。我們認為,這是由於投資者將目光投向了法定利潤之外,而關注的是他們所看到的。
Check out our latest analysis for SMIT Holdings
查看我們對SMIT控股的最新分析
The Impact Of Unusual Items On Profit
異常項目對利潤的影響
Importantly, our data indicates that SMIT Holdings' profit received a boost of US$13m in unusual items, over the last year. While we like to see profit increases, we tend to be a little more cautious when unusual items have made a big contribution. 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. We can see that SMIT Holdings' positive unusual items were quite significant relative to its profit in the year to December 2021. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.
重要的是,我們的數據表明,在過去一年中,SMIT控股的利潤在不尋常的項目上增加了1300萬美元。雖然我們喜歡看到利潤增加,但當不尋常的項目做出了很大貢獻時,我們往往會更加謹慎。當我們分析全球絕大多數上市公司時,我們發現重大的不尋常項目往往不會重複。考慮到這個名字,這並不令人驚訝。我們可以看到,在截至2021年12月的一年中,SMIT控股的積極異常項目相對於其利潤來説相當重要。因此,我們可以推測,這些不尋常的項目使其法定利潤比其他情況下要強勁得多。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of SMIT Holdings.
注:我們總是建議投資者檢查資產負債表的實力。點擊此處查看我們對SMIT控股的資產負債表分析。
Our Take On SMIT Holdings' Profit Performance
我們對SMIT控股公司利潤表現的看法
As previously mentioned, SMIT Holdings' large boost from unusual items won't be there indefinitely, so its statutory earnings are probably a poor guide to its underlying profitability. For this reason, we think that SMIT Holdings' statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. On the bright side, the company showed enough improvement to book a profit this year, after losing money last year. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. If you'd like to know more about SMIT Holdings as a business, it's important to be aware of any risks it's facing. For example, we've found that SMIT Holdings has 4 warning signs (1 is potentially serious!) that deserve your attention before going any further with your analysis.
正如前面提到的,Smit Holdings從不尋常項目中獲得的巨大提振不會無限期地存在,因此它的法定收益可能不能很好地反映其潛在的盈利能力。出於這個原因,我們認為SMIT Holdings的法定利潤可能是其潛在盈利能力的不良指引,可能會給投資者帶來對該公司過於樂觀的印象。好的一面是,該公司在去年虧損後,表現出了足夠的改善,今年實現了盈利。當然,當談到分析其收益時,我們只是觸及了皮毛;人們還可以考慮利潤率、預測增長和投資回報等因素。如果你想更多地瞭解SMIT控股作為一項業務,重要的是要意識到它面臨的任何風險。例如,我們發現SMIT Holdings有4個警告信號(1個可能嚴重!)在進一步分析之前,這一點值得你注意。
Today we've zoomed in on a single data point to better understand the nature of SMIT 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.
今天,我們放大了一個數據點,以更好地瞭解SMIT控股公司利潤的性質。但如果你有能力將注意力集中在細枝末節上,總會有更多的東西需要發現。例如,許多人認為高股本回報率是有利的商業經濟指標,而另一些人則喜歡“跟着錢走”,尋找內部人士正在買入的股票。所以你可能想看看這個免費擁有高股本回報率的公司的集合,或內部人士正在購買的這份股票清單。
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.
對這篇文章有什麼反饋嗎?擔心內容嗎?保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
這篇由《華爾街日報》撰寫的文章本質上是籠統的。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。簡單地説,華爾街在提到的任何股票中都沒有頭寸。
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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., 是關聯公司。
風險及免責聲明
moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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