The recent earnings posted by Hong Kong Economic Times Holdings Limited (HKG:423) were solid, but the stock didn't move as much as we expected. We think this is due to investors looking beyond the statutory profits and being concerned with what they see.
View our latest analysis for Hong Kong Economic Times Holdings
SEHK:423 Earnings and Revenue History November 28th 2022
How Do Unusual Items Influence Profit?
To properly understand Hong Kong Economic Times Holdings' profit results, we need to consider the HK$33m gain attributed to unusual items. We can't deny that higher profits generally leave us optimistic, but we'd prefer it if the profit were to be sustainable. 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, after all, that's exactly what the accounting terminology implies. Hong Kong Economic Times Holdings had a rather significant contribution from unusual items relative to its profit to September 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 Hong Kong Economic Times Holdings.
Our Take On Hong Kong Economic Times Holdings' Profit Performance
As previously mentioned, Hong Kong Economic Times Holdings' large boost from unusual items won't be there indefinitely, so its statutory earnings are probably a poor guide to its underlying profitability. As a result, we think it may well be the case that Hong Kong Economic Times Holdings' underlying earnings power is lower than its statutory profit. Nonetheless, it's still worth noting that its earnings per share have grown at 12% over the last three years. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. 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. To that end, you should learn about the 4 warning signs we've spotted with Hong Kong Economic Times Holdings (including 2 which are potentially serious).
Today we've zoomed in on a single data point to better understand the nature of Hong Kong Economic Times Holdings' profit. But there is always more to discover if you are capable of focussing your mind on minutiae. 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.
最近发布的收益为香港经济时报集团有限公司(HKG:423)表现稳健,但股价走势没有我们预期的那么大。我们认为,这是由于投资者将目光投向了法定利润之外,而关注的是他们所看到的。
查看我们对香港经济时报控股的最新分析
联交所:423盈利及收入历史2022年11月28日
不寻常的项目如何影响利润?
要正确理解香港经济时报控股有限公司的盈利业绩,我们需要考虑一下被归因于不寻常项目的3300万港元收益。我们不能否认,更高的利润通常会让我们保持乐观,但如果利润是可持续的,我们更愿意这样做。我们对全球大多数上市公司进行了统计,不寻常的项目在性质上是一次性的,这是非常常见的。毕竟,这正是会计术语所暗示的。香港经济时报控股有限公司(Hong Kong Economic Times Holdings)在截至2022年9月的利润中,来自异常项目的贡献相当大。因此,我们可以推测,这些不寻常的项目使其法定利润比其他情况下要强劲得多。
注:我们总是建议投资者检查资产负债表的实力。点击此处查看我们对香港经济时报控股公司的资产负债表分析。
我们对香港经济时报控股公司盈利表现的看法
正如前面提到的,香港经济时报控股有限公司从不寻常项目中获得的巨大提振不会无限期地存在,因此其法定收益可能不能很好地反映其潜在盈利能力。因此,我们认为很可能是香港经济时报控股的潜在盈利能力低于其法定利润。尽管如此,值得注意的是,它的每股收益在过去三年里以12%的速度增长。当然,当谈到分析其收益时,我们只是触及了皮毛;人们还可以考虑利润率、预测增长和投资回报等因素。有鉴于此,如果你想对公司做更多的分析,了解其中的风险是至关重要的。为此,您应该了解4个警示标志我们已经发现了香港经济时报控股公司(包括两家潜在的严重公司)。
今天,我们放大了一个数据点,以更好地了解香港经济时报控股公司的利润性质。但如果你有能力将注意力集中在细枝末节上,总会有更多的东西需要发现。一些人认为,高股本回报率是高质量企业的良好标志。所以你可能想看看这个免费拥有高股本回报率的公司的集合,或内部人士正在购买的这份股票清单。
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本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。