Courage Investment Group Limited's (HKG:1145) robust earnings report didn't manage to move the market for its stock. Our analysis suggests that shareholders have noticed something concerning in the numbers.
See our latest analysis for Courage Investment Group
SEHK:1145 Earnings and Revenue History October 5th 2022
How Do Unusual Items Influence Profit?
For anyone who wants to understand Courage Investment Group's profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit gained from US$5.7m worth of 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. When we crunched the numbers on thousands of publicly listed companies, we found that a boost from unusual items in a given year is often not repeated the next year. And that's as you'd expect, given these boosts are described as 'unusual'. We can see that Courage Investment Group's positive unusual items were quite significant relative to its profit in the year to June 2022. All else being equal, this would likely have the effect of making the statutory profit a poor guide to underlying earnings power.
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Courage Investment Group.
Our Take On Courage Investment Group's Profit Performance
As previously mentioned, Courage Investment Group'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 Courage Investment Group's statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. The good news is that it earned a profit in the last twelve months, despite its previous loss. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. So while earnings quality is important, it's equally important to consider the risks facing Courage Investment Group at this point in time. For example, Courage Investment Group has 2 warning signs (and 1 which can't be ignored) we think you should know about.
This note has only looked at a single factor that sheds light on the nature of Courage Investment Group's 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. 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.
勇氣投資集團有限公司(HKG:1145)強勁的盈利報告未能推動其股票的市場走勢。我們的分析表明,股東們注意到了數字中的一些令人擔憂的地方。
查看我們對Courage Investment Group的最新分析
聯交所:1145盈利及收入歷史2022年10月5日
不尋常的項目如何影響利潤?
對於任何想要了解勇氣投資集團利潤的人來説,重要的是要注意到,在過去12個月裏,從價值570萬美元的不尋常項目中獲得了法定利潤。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。當我們分析了數千家上市公司的數據時,我們發現,在給定的一年中,不尋常的項目往往會帶來提振不第二年又重複了一遍。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。我們可以看到,在截至2022年6月的一年中,勇氣投資集團的積極異常項目與其利潤相比相當重要。在其他條件不變的情況下,這可能會使法定利潤成為衡量潛在盈利能力的糟糕指標。
注:我們總是建議投資者檢查資產負債表的實力。點擊此處進入我們對勇氣投資集團的資產負債表分析。
我們對勇氣投資集團盈利表現的看法
正如前面提到的,勇氣投資集團從不尋常項目中獲得的巨大提振不會無限期地存在,因此該集團的法定收益可能不能很好地反映其潛在盈利能力。出於這個原因,我們認為,勇氣投資集團的法定利潤可能不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。好消息是,儘管之前出現了虧損,但該公司在過去12個月裏實現了盈利。歸根結底,如果你想正確地瞭解這家公司,除了以上幾個因素之外,考慮其他因素也是至關重要的。因此,儘管盈利質量很重要,但考慮到勇氣投資集團目前面臨的風險也同樣重要。例如,勇氣投資集團有2個警告標誌(還有一個不容忽視)我們認為你應該知道這一點。
這份報告只關注了一個因素,它揭示了勇氣投資集團的利潤性質。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。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。