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XD Inc.'s (HKG:2400) Share Price Could Signal Some Risk
XD Inc.'s (HKG:2400) Share Price Could Signal Some Risk
When close to half the companies in the Entertainment industry in Hong Kong have price-to-sales ratios (or "P/S") below 1.8x, you may consider XD Inc. (HKG:2400) as a stock to potentially avoid with its 3.3x P/S ratio. However, the P/S might be high for a reason and it requires further investigation to determine if it's justified.
View our latest analysis for XD
How Has XD Performed Recently?
With revenue growth that's superior to most other companies of late, XD has been doing relatively well. It seems that many are expecting the strong revenue performance to persist, which has raised the P/S. If not, then existing shareholders might be a little nervous about the viability of the share price.
Want the full picture on analyst estimates for the company? Then our free report on XD will help you uncover what's on the horizon.Do Revenue Forecasts Match The High P/S Ratio?
The only time you'd be truly comfortable seeing a P/S as high as XD's is when the company's growth is on track to outshine the industry.
Taking a look back first, we see that the company grew revenue by an impressive 27% last year. Revenue has also lifted 21% in aggregate from three years ago, mostly thanks to the last 12 months of growth. So we can start by confirming that the company has actually done a good job of growing revenue over that time.
Shifting to the future, estimates from the eleven analysts covering the company suggest revenue should grow by 21% per year over the next three years. That's shaping up to be similar to the 21% per year growth forecast for the broader industry.
With this information, we find it interesting that XD is trading at a high P/S compared to the industry. Apparently many investors in the company are more bullish than analysts indicate and aren't willing to let go of their stock right now. Although, additional gains will be difficult to achieve as this level of revenue growth is likely to weigh down the share price eventually.
The Final Word
We'd say the price-to-sales ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.
Analysts are forecasting XD's revenues to only grow on par with the rest of the industry, which has lead to the high P/S ratio being unexpected. The fact that the revenue figures aren't setting the world alight has us doubtful that the company's elevated P/S can be sustainable for the long term. A positive change is needed in order to justify the current price-to-sales ratio.
And what about other risks? Every company has them, and we've spotted 1 warning sign for XD you should know about.
If you're unsure about the strength of XD's business, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.
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.
When close to half the companies in the Entertainment industry in Hong Kong have price-to-sales ratios (or "P/S") below 1.8x, you may consider XD Inc. (HKG:2400) as a stock to potentially avoid with its 3.3x P/S ratio. However, the P/S might be high for a reason and it requires further investigation to determine if it's justified.
當近一半的香港娛樂業公司的市銷比(或 “市盈率”)低於1.8倍時,你可以考慮 XD Inc. (HKG: 2400)的市盈率爲3.3倍,是一隻可能避開的股票。但是,P/S 之高可能是有原因的,需要進一步調查以確定其是否合理。
View our latest analysis for XD
查看我們對 XD 的最新分析
How Has XD Performed Recently?
XD 最近的表現如何?
With revenue growth that's superior to most other companies of late, XD has been doing relatively well. It seems that many are expecting the strong revenue performance to persist, which has raised the P/S. If not, then existing shareholders might be a little nervous about the viability of the share price.
最近的收入增長優於大多數其他公司,XD 的表現相對較好。看來許多人預計強勁的收入表現將持續下去,這提高了市盈率。否則,現有股東可能會對股價的可行性有點緊張。
Do Revenue Forecasts Match The High P/S Ratio?
收入預測與高市盈率相匹配嗎?
The only time you'd be truly comfortable seeing a P/S as high as XD's is when the company's growth is on track to outshine the industry.
看到像XD這樣高的市盈率只有在公司的增長有望超越行業的時候,你才會真正感到滿意。
Taking a look back first, we see that the company grew revenue by an impressive 27% last year. Revenue has also lifted 21% in aggregate from three years ago, mostly thanks to the last 12 months of growth. So we can start by confirming that the company has actually done a good job of growing revenue over that time.
首先回顧一下,我們發現該公司去年的收入增長了令人印象深刻的27%。總收入也比三年前增長了21%,這主要歸功於過去12個月的增長。因此,我們可以先確認該公司在那段時間內在增加收入方面確實做得很好。
Shifting to the future, estimates from the eleven analysts covering the company suggest revenue should grow by 21% per year over the next three years. That's shaping up to be similar to the 21% per year growth forecast for the broader industry.
展望未來,報道該公司的11位分析師的估計表明,未來三年收入將每年增長21%。這與整個行業每年 21% 的增長預測相似。
With this information, we find it interesting that XD is trading at a high P/S compared to the industry. Apparently many investors in the company are more bullish than analysts indicate and aren't willing to let go of their stock right now. Although, additional gains will be difficult to achieve as this level of revenue growth is likely to weigh down the share price eventually.
有了這些信息,我們發現有趣的是,與行業相比,XD的市盈率很高。顯然,該公司的許多投資者比分析師所表示的更爲看漲,並且目前不願意放棄股票。但是,由於這種收入增長水平最終可能會壓低股價,因此很難實現額外的收益。
The Final Word
最後一句話
We'd say the price-to-sales ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.
我們可以說,市銷比率的力量主要不在於作爲估值工具,而是衡量當前的投資者情緒和未來預期。
Analysts are forecasting XD's revenues to only grow on par with the rest of the industry, which has lead to the high P/S ratio being unexpected. The fact that the revenue figures aren't setting the world alight has us doubtful that the company's elevated P/S can be sustainable for the long term. A positive change is needed in order to justify the current price-to-sales ratio.
分析師預測,XD的收入增長僅與行業其他部門持平,這導致高市盈率出人意料。收入數字並沒有點燃世界,這一事實使我們懷疑該公司的市盈率上漲能否長期持續下去。爲了證明當前的價格與銷售比率是合理的,需要做出積極的改變。
And what about other risks? Every company has them, and we've spotted 1 warning sign for XD you should know about.
那其他風險呢?每家公司都有它們,我們已經發現了 XD 的 1 個警告信號 你應該知道。
If you're unsure about the strength of XD's business, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.
如果你是 不確定 XD 的業務實力,爲甚麼不瀏覽我們的互動股票清單,爲你可能錯過的其他一些公司提供堅實的商業基本面。
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.
對這篇文章有反饋嗎?對內容感到擔憂? 取得聯繫 直接和我們聯繫。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St 的這篇文章本質上是一般性的。 我們僅使用不偏不倚的方法根據歷史數據和分析師預測提供評論,我們的文章並非旨在提供財務建議。 它不構成買入或賣出任何股票的建議,也沒有考慮您的目標或財務狀況。我們的目標是爲您提供由基本面數據驅動的長期重點分析。請注意,我們的分析可能未將最新的價格敏感型公司公告或定性材料考慮在內。簡而言之,華爾街對上述任何股票都沒有頭寸。
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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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