Fujian Sanmu Group's (SZSE:000632) Shareholders Have More To Worry About Than Only Soft Earnings
Fujian Sanmu Group's (SZSE:000632) Shareholders Have More To Worry About Than Only Soft Earnings
The subdued market reaction suggests that Fujian Sanmu Group Co., Ltd.'s (SZSE:000632) recent earnings didn't contain any surprises. We think that investors are worried about some weaknesses underlying the earnings.
低迷的市场反应表明福建三木集团股份有限公司(SZSE:000632)近期财报并不包含任何意外。我们认为,投资者担心的是盈利背后的一些弱点。
Check out our latest analysis for Fujian Sanmu Group
查看我们对福建三木集团的最新分析
The Impact Of Unusual Items On Profit
异常项目对利润的影响
For anyone who wants to understand Fujian Sanmu Group's profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit gained from CN¥39m worth of 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. Fujian Sanmu Group had a rather significant contribution from unusual items relative to its profit to December 2021. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.
对于那些想要了解福建三木集团法定利润以外的数据的人来说,重要的是要注意到,在过去的12个月里,从价值3900万元的非常项目中获得了法定利润。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。福建三木集团在截至2021年12月的利润中,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。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Fujian Sanmu Group.
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福建三木集团的资产负债表分析。
Our Take On Fujian Sanmu Group's Profit Performance
我们对福建三木集团盈利业绩的看法
As previously mentioned, Fujian Sanmu 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 Fujian Sanmu 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. In further bad news, its earnings per share decreased in the last year. 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. Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. When we did our research, we found 4 warning signs for Fujian Sanmu Group (1 doesn't sit too well with us!) that we believe deserve your full attention.
如前所述,福建三木集团不寻常项目带来的巨大提振不会无限期存在,因此其法定收益很可能不能很好地反映其潜在盈利能力。出于这个原因,我们认为福建三木集团的法定利润可能是对其潜在盈利能力的不良指引,可能会给投资者带来对该公司过于乐观的印象。更坏的消息是,该公司去年的每股收益有所下降。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。请记住,在分析一只股票时,值得注意其中的风险。在调研时,我们发现了福建三木集团的4个警示标志(1个不太适合我们!)我们认为这值得你的全力关注。
This note has only looked at a single factor that sheds light on the nature of Fujian Sanmu Group's 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. 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.
这份报告只关注了一个因素,它揭示了福建三木集团的利润性质。但还有很多其他方式可以让你了解一家公司的看法。一些人认为,高股本回报率是高质量企业的良好标志。虽然这可能需要为您做一些研究,但您可能会发现免费拥有高股本回报率的公司的集合,或者是内部人士购买的有用的股票清单。
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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.
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这篇由《华尔街日报》撰写的文章本质上是笼统的。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。简单地说,华尔街在提到的任何股票中都没有头寸。