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Earnings Not Telling The Story For Termbray Industries International (Holdings) Limited (HKG:93) After Shares Rise 31%
Earnings Not Telling The Story For Termbray Industries International (Holdings) Limited (HKG:93) After Shares Rise 31%
Termbray Industries International (Holdings) Limited (HKG:93) shares have continued their recent momentum with a 31% gain in the last month alone. Looking further back, the 21% rise over the last twelve months isn't too bad notwithstanding the strength over the last 30 days.
Since its price has surged higher, Termbray Industries International (Holdings) may be sending very bearish signals at the moment with a price-to-earnings (or "P/E") ratio of 39.4x, since almost half of all companies in Hong Kong have P/E ratios under 8x and even P/E's lower than 4x are not unusual. 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.
As an illustration, earnings have deteriorated at Termbray Industries International (Holdings) over the last year, which is not ideal at all. One possibility is that the P/E is high because investors think the company will still do enough to outperform the broader market in the near future. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
View our latest analysis for Termbray Industries International (Holdings)
SEHK:93 Price Based on Past Earnings October 5th 2022 Want the full picture on earnings, revenue and cash flow for the company? Then our free report on Termbray Industries International (Holdings) will help you shine a light on its historical performance.What Are Growth Metrics Telling Us About The High P/E?
Termbray Industries International (Holdings)'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.
Taking a look back first, the company's earnings per share growth last year wasn't something to get excited about as it posted a disappointing decline of 56%. At least EPS has managed not to go completely backwards from three years ago in aggregate, thanks to the earlier period of growth. Therefore, it's fair to say that earnings growth has been inconsistent recently for the company.
Comparing that to the market, which is predicted to deliver 20% growth in the next 12 months, the company's momentum is weaker based on recent medium-term annualised earnings results.
In light of this, it's alarming that Termbray Industries International (Holdings)'s P/E sits above the majority of other companies. It seems most investors are ignoring the fairly limited recent growth rates and are hoping for a turnaround in the company's business prospects. There's a good chance existing shareholders are setting themselves up for future disappointment if the P/E falls to levels more in line with recent growth rates.
The Final Word
Termbray Industries International (Holdings)'s P/E is flying high just like its stock has during the last month. 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.
We've established that Termbray Industries International (Holdings) currently trades on a much higher than expected P/E since its recent three-year growth is lower than the wider market forecast. When we see weak earnings with slower than market growth, we suspect the share price is at risk of declining, sending the high P/E lower. If recent medium-term earnings trends continue, it will place shareholders' investments at significant risk and potential investors in danger of paying an excessive premium.
There are also other vital risk factors to consider before investing and we've discovered 2 warning signs for Termbray Industries International (Holdings) that you should be aware of.
You might be able to find a better investment than Termbray Industries International (Holdings). 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.
特倫佈雷工業國際(集團)有限公司(HKG:93)僅在過去一個月,股價就延續了近期的勢頭,上漲了31%。再往前看,過去12個月21%的漲幅並不算太糟糕,儘管過去30天的漲勢很強勁。
由於股價飆升,特姆佈雷工業國際(控股)目前可能發出了非常看跌的信號,市盈率(P/E)為39.4倍,因為香港幾乎一半的公司的市盈率低於8倍,即使市盈率低於4倍也是司空見慣的。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。
舉例來説,Termbray Industries International(Holdings)的收益在過去一年裏一直在惡化,這根本不是理想的情況。一種可能性是,市盈率很高,因為投資者認為該公司在不久的將來仍將採取足夠的措施來跑贏大盤。你真的希望如此,否則你會無緣無故地付出相當大的代價。
查看我們對Termbray Industries International(Holdings)的最新分析
聯交所:93基於過去收益的價格2022年10月5日想了解該公司的收益、收入和現金流的全貌嗎?那麼我們的免費Termbray Industries International(Holdings)的報告將幫助您瞭解其歷史業績。增長指標告訴我們關於高市盈率的哪些信息?
Termbray Industries International(Holdings)的市盈率對於一家預計將實現非常強勁增長的公司來説是典型的,而且重要的是,它的表現遠遠好於市場。
首先回顧一下,該公司去年的每股收益增長並不是什麼令人興奮的事情,因為它公佈了令人失望的下降56%。至少,由於早期的增長,每股收益總體上沒有從三年前完全倒退。因此,公平地説,該公司最近的收益增長一直不一致。
與預計未來12個月將實現20%增長的市場相比,根據最近的中期年化收益結果,該公司的增長勢頭較弱。
有鑑於此,Termbray Industries International(Holdings)的市盈率高於大多數其他公司,這是令人擔憂的。似乎大多數投資者都忽視了最近相當有限的增長率,而是希望公司的業務前景出現好轉。如果市盈率下降到與最近的增長率更接近的水平,現有股東很可能會讓自己未來失望。
最後的結論
Termbray Industries International(Holdings)的市盈率飆升,就像其股票在過去一個月裏的表現一樣。我們可以説,市盈率的力量主要不是作為一種估值工具,而是衡量當前投資者的情緒和未來預期。
我們已經確定,Termbray Industries International(Holdings)目前的市盈率遠高於預期,因為其最近三年的增長低於更廣泛的市場預測。當我們看到盈利疲軟、增長慢於市場增長時,我們懷疑股價有下跌的風險,導致高市盈率下降。如果近期的中期盈利趨勢持續下去,將使股東的投資面臨重大風險,潛在投資者面臨支付過高溢價的危險。
在投資之前,還有其他重要的風險因素需要考慮,我們發現2 Termbray Industries International(Holdings)的警告標誌這一點你應該知道。
你也許能找到比Termbray Industries International(Holdings)更好的投資。如果您想要選擇可能的候選人,請查看以下內容免費令人感興趣的市盈率低於20倍的公司名單(但已證明它們可以增加收益)。
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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