Automated Systems Holdings Limited's (HKG:771) robust recent earnings didn't do much to move the stock. 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 Automated Systems Holdings
SEHK:771 Earnings and Revenue History September 30th 2022
How Do Unusual Items Influence Profit?
To properly understand Automated Systems Holdings' profit results, we need to consider the HK$90m gain attributed to unusual items. While we like to see profit increases, we tend to be a little more cautious when unusual items have made a big contribution. We ran the numbers on most publicly listed companies worldwide, and it's very common for unusual items to be once-off in nature. Which is hardly surprising, given the name. Automated Systems Holdings 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 Automated Systems Holdings.
Our Take On Automated Systems Holdings' Profit Performance
As we discussed above, we think the significant positive unusual item makes Automated Systems Holdings' earnings a poor guide to its underlying profitability. For this reason, we think that Automated Systems 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. 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. If you'd like to know more about Automated Systems Holdings as a business, it's important to be aware of any risks it's facing. To that end, you should learn about the 4 warning signs we've spotted with Automated Systems Holdings (including 1 which can't be ignored).
Today we've zoomed in on a single data point to better understand the nature of Automated Systems Holdings' 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. 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.
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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.
自動化系統控股有限公司(HKG:771)近期強勁的收益對股價影響不大。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。
查看我們對Automated Systems Holdings的最新分析
聯交所:771盈利及收入歷史2022年9月30日
不尋常的項目如何影響利潤?
要正確理解Automated Systems Holdings的盈利業績,我們需要考慮歸因於不尋常項目的9000萬港元收益。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。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。考慮到這個名字,這並不令人驚訝。與截至2022年6月的利潤相比,自動化系統控股公司從不尋常項目中獲得了相當大的貢獻。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Automated Systems Holdings的資產負債表分析。
我們對Automated Systems Holdings的利潤表現的看法
正如我們上面討論的,我們認為這一重要的積極的不尋常項目使Automated Systems Holdings的收益成為衡量其潛在盈利能力的糟糕指南。出於這個原因,我們認為Automated Systems Holdings的法定利潤可能不是衡量其潛在盈利能力的不良指標,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。如果你想更多地瞭解Automated Systems Holdings作為一項業務,瞭解它面臨的任何風險是很重要的。為此,您應該瞭解4個警示標誌我們已經發現了Automated Systems Holdings(包括1家不容忽視的公司)。
今天,我們放大了一個數據點,以更好地瞭解Automated Systems Holdings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。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。
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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。