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SG Micro Corp's (SZSE:300661) Business Is Trailing The Market But Its Shares Aren't
SG Micro Corp's (SZSE:300661) Business Is Trailing The Market But Its Shares Aren't
SG Micro Corp's (SZSE:300661) price-to-earnings (or "P/E") ratio of 79.6x might make it look like a strong sell right now compared to the market in China, where around half of the companies have P/E ratios below 30x and even P/E's below 18x are quite common. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so lofty.
Recent times have been advantageous for SG Micro as its earnings have been rising faster than most other companies. The P/E is probably high because investors think this strong earnings performance will continue. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
See our latest analysis for SG Micro
SZSE:300661 Price Based on Past Earnings May 22nd 2022 Want the full picture on analyst estimates for the company? Then our free report on SG Micro will help you uncover what's on the horizon.Does Growth Match The High P/E?
SG Micro's P/E ratio would be typical for a company that's expected to deliver very strong growth, and importantly, perform much better than the market.
If we review the last year of earnings growth, the company posted a terrific increase of 163%. Pleasingly, EPS has also lifted 750% in aggregate from three years ago, thanks to the last 12 months of growth. Therefore, it's fair to say the earnings growth recently has been superb for the company.
Shifting to the future, estimates from the analysts covering the company suggest earnings should grow by 28% per year over the next three years. With the market predicted to deliver 26% growth per year, the company is positioned for a comparable earnings result.
In light of this, it's curious that SG Micro's P/E sits above the majority of other companies. It seems most investors are ignoring the fairly average growth expectations and are willing to pay up for exposure to the stock. Although, additional gains will be difficult to achieve as this level of earnings growth is likely to weigh down the share price eventually.
The Key Takeaway
Using the price-to-earnings 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 SG Micro currently trades on a higher than expected P/E since its forecast growth is only in line with the wider market. When we see an average earnings outlook with market-like growth, we suspect the share price is at risk of declining, sending the high P/E lower. Unless these conditions improve, it's challenging to accept these prices as being reasonable.
A lot of potential risks can sit within a company's balance sheet. You can assess many of the main risks through our free balance sheet analysis for SG Micro with six simple checks.
Of course, you might find a fantastic investment by looking at a few good candidates. So take a peek at this free list of companies with a strong growth track record, trading on a P/E below 20x.
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.
SG Micro Corp's (SZSE:300661) price-to-earnings (or "P/E") ratio of 79.6x might make it look like a strong sell right now compared to the market in China, where around half of the companies have P/E ratios below 30x and even P/E's below 18x are quite common. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so lofty.
SG Micro Corp的(SZSE:300661)79.6倍的市盈率可能會讓它看起來像是一個強勁的賣盤,而在中國,大約一半的公司的市盈率低於30倍,甚至低於18倍的市盈率也很常見。然而,僅僅從表面上看待市盈率是不明智的,因為可能會有一個解釋,為什麼它如此之高。
Recent times have been advantageous for SG Micro as its earnings have been rising faster than most other companies. The P/E is probably high because investors think this strong earnings performance will continue. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
最近的時期對新科微電子來説是有利的,因為它的收益增長速度一直快於大多數其他公司。市盈率之所以高,可能是因為投資者認為這種強勁的盈利表現將持續下去。你真的希望如此,否則你會無緣無故地付出相當大的代價。
See our latest analysis for SG Micro
查看我們對新科微電子的最新分析
Does Growth Match The High P/E?
增長是否與高市盈率相匹配?
SG Micro's P/E ratio would be typical for a company that's expected to deliver very strong growth, and importantly, perform much better than the market.
對於一家預計將實現非常強勁增長的公司來説,SG Micro的市盈率將是典型的,而且重要的是,它的表現遠遠好於市場。
If we review the last year of earnings growth, the company posted a terrific increase of 163%. Pleasingly, EPS has also lifted 750% in aggregate from three years ago, thanks to the last 12 months of growth. Therefore, it's fair to say the earnings growth recently has been superb for the company.
如果我們回顧去年的收益增長,該公司公佈了163%的驚人增長。令人欣喜的是,由於過去12個月的增長,每股收益也比三年前上漲了750%。因此,公平地説,最近的收益增長對公司來説是一流的。
Shifting to the future, estimates from the analysts covering the company suggest earnings should grow by 28% per year over the next three years. With the market predicted to deliver 26% growth per year, the company is positioned for a comparable earnings result.
展望未來,跟蹤該公司的分析師預計,未來三年,該公司的收益將以每年28%的速度增長。由於市場預計每年將實現26%的增長,該公司將迎來可比的收益結果。
In light of this, it's curious that SG Micro's P/E sits above the majority of other companies. It seems most investors are ignoring the fairly average growth expectations and are willing to pay up for exposure to the stock. Although, additional gains will be difficult to achieve as this level of earnings growth is likely to weigh down the share price eventually.
有鑑於此,令人好奇的是,SG Micro的市盈率高於大多數其他公司。似乎大多數投資者忽視了相當平均的增長預期,願意為股票敞口支付高價。儘管如此,進一步的收益將很難實現,因為這種水平的收益增長最終可能會拖累股價。
The Key Takeaway
關鍵的外賣
Using the price-to-earnings 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.
僅僅用市盈率來決定你是否應該出售你的股票是不明智的,但它可以成為公司未來前景的實用指南。
We've established that SG Micro currently trades on a higher than expected P/E since its forecast growth is only in line with the wider market. When we see an average earnings outlook with market-like growth, we suspect the share price is at risk of declining, sending the high P/E lower. Unless these conditions improve, it's challenging to accept these prices as being reasonable.
我們已經確定,SG Micro目前的市盈率高於預期,因為其預期增長僅與更廣泛的市場一致。當我們看到平均收益前景和市場一樣的增長時,我們懷疑股價有下跌的風險,導致高市盈率下降。除非這些條件得到改善,否則很難接受這些價格是合理的。
A lot of potential risks can sit within a company's balance sheet. You can assess many of the main risks through our free balance sheet analysis for SG Micro with six simple checks.
一家公司的資產負債表中可能隱藏着許多潛在風險。您可以通過我們的免費SG Micro的資產負債表分析,包括六個簡單的檢查。
Of course, you might find a fantastic investment by looking at a few good candidates. So take a peek at this free list of companies with a strong growth track record, trading on a P/E below 20x.
當然了,通過觀察幾個優秀的候選人,你可能會發現這是一項非常棒的投資。所以讓我們來看看這個免費業績表現強勁、市盈率低於20倍的公司名單。
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。
本文由Simply Wall St.撰寫,具有概括性。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。Simply Wall St.對上述任何一隻股票都沒有持倉。
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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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