Yanchang Petroleum International Limited's (HKG:346) healthy profit numbers didn't contain any surprises for investors. 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 Yanchang Petroleum International
SEHK:346 Earnings and Revenue History September 22nd 2022
The Impact Of Unusual Items On Profit
Importantly, our data indicates that Yanchang Petroleum International's profit received a boost of HK$333m in unusual items, over the last year. While it's always nice to have higher profit, a large contribution from unusual items sometimes dampens our enthusiasm. We ran the numbers on most publicly listed companies worldwide, and it's very common for unusual items to be once-off in nature. And that's as you'd expect, given these boosts are described as 'unusual'. Yanchang Petroleum International had a rather significant contribution from unusual items relative to its profit to June 2022. 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 Yanchang Petroleum International.
Our Take On Yanchang Petroleum International's Profit Performance
As previously mentioned, Yanchang Petroleum International's 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 Yanchang Petroleum International's 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. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. For example, we've discovered 1 warning sign that you should run your eye over to get a better picture of Yanchang Petroleum International.
Today we've zoomed in on a single data point to better understand the nature of Yanchang Petroleum International's profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying to be useful.
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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.
延昌石油國際有限公司(HKG:346)健康的利潤數字不會給投資者帶來任何驚喜。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。
查看我們對延昌石油國際的最新分析
聯交所:346盈利及收入歷史2022年9月22日
異常項目對利潤的影響
重要的是,我們的數據顯示,在過去一年裏,延昌石油國際的利潤在異常項目上增加了3.33億港元。雖然有更高的利潤總是好事,但不尋常的東西帶來的巨大貢獻有時會挫傷我們的熱情。我們對全球大多數上市公司進行了統計,不尋常的項目在性質上是一次性的,這是非常常見的。考慮到這些提振被描述為“不尋常的”,這正如你所預期的那樣。截至2022年6月,延昌石油國際的非常項目相對於其利潤做出了相當大的貢獻。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。
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延昌石油國際的資產負債表分析。
我們對延昌石油國際盈利表現的看法
正如前面提到的,延昌石油國際從不尋常項目中獲得的巨大提振不會無限期地存在,因此該公司的法定收益可能不能很好地反映其潛在盈利能力。因此,我們認為,延昌石油國際的法定利潤可能是對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。本文的目的是評估我們可以在多大程度上依賴法定收益來反映公司的潛力,但還有很多東西需要考慮。有鑑於此,如果你想對公司做更多的分析,瞭解其中的風險是至關重要的。例如,我們發現1個警告標誌你應該掃視一下,才能更好地瞭解延昌石油國際。
今天,我們放大了一個數據點,以更好地瞭解延昌石油國際的利潤性質。但還有很多其他方式可以讓你瞭解一家公司的看法。一些人認為,高股本回報率是高質量企業的良好標誌。雖然這可能需要為您做一些研究,但您可能會發現免費擁有高股本回報率的公司的集合,或者是內部人士購買的有用的股票清單。
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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。