Cedar Development Co.,Ltd. (SZSE:002485) Held Back By Insufficient Growth Even After Shares Climb 26%
Cedar Development Co.,Ltd. (SZSE:002485) Held Back By Insufficient Growth Even After Shares Climb 26%
Despite an already strong run, Cedar Development Co.,Ltd. (SZSE:002485) shares have been powering on, with a gain of 26% in the last thirty days. Looking back a bit further, it's encouraging to see the stock is up 28% in the last year.
尽管已经表现强劲, 雪松开发公司,有限公司 (SZSE: 002485)股价一直在上涨,在过去的三十天里上涨了26%。再往前看,该股在去年上涨了28%,这令人鼓舞。
In spite of the firm bounce in price, Cedar DevelopmentLtd may still be sending buy signals at present with its price-to-sales (or "P/S") ratio of 1.2x, considering almost half of all companies in the Luxury industry in China have P/S ratios greater than 1.9x and even P/S higher than 4x aren't out of the ordinary. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the reduced P/S.
尽管公司价格出现反弹,但Cedar Development Ltd目前可能仍在发出买入信号,其市盈率(或 “市盈率”)为1.2倍,因为中国奢侈品行业近一半的公司市盈率超过1.9倍,甚至高于4倍的市盈率也并不罕见。尽管如此,我们需要更深入地挖掘以确定降低P/S是否有合理的基础。
View our latest analysis for Cedar DevelopmentLtd
查看我们对雪松开发有限公司的最新分析
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How Cedar DevelopmentLtd Has Been Performing
雪松开发有限公司的表现如何
For example, consider that Cedar DevelopmentLtd's financial performance has been poor lately as its revenue has been in decline. It might be that many expect the disappointing revenue performance to continue or accelerate, which has repressed the P/S. If you like the company, you'd be hoping this isn't the case so that you could potentially pick up some stock while it's out of favour.
例如,假设Cedar DevelopmentLtd最近的财务表现不佳,因为其收入一直在下降。可能是许多人预计令人失望的收入表现将持续或加速,这抑制了市盈率。如果你喜欢这家公司,你会希望情况并非如此,这样你就有可能在股票失宠的时候买入一些股票。
Is There Any Revenue Growth Forecasted For Cedar DevelopmentLtd?
预计Cedar DevelopmentLtd的收入会增长吗?
Cedar DevelopmentLtd's P/S ratio would be typical for a company that's only expected to deliver limited growth, and importantly, perform worse than the industry.
Cedar Development Ltd的市盈率对于一家预计增长有限、重要的是表现不如行业的公司来说是典型的。
Retrospectively, the last year delivered a frustrating 12% decrease to the company's top line. This means it has also seen a slide in revenue over the longer-term as revenue is down 45% in total over the last three years. So unfortunately, we have to acknowledge that the company has not done a great job of growing revenue over that time.
回想起来,去年公司的收入下降了12%,令人沮丧。这意味着从长远来看,它的收入也有所下滑,因为在过去三年中,总收入下降了45%。因此,不幸的是,我们必须承认,在那段时间里,该公司在增加收入方面做得不好。
Weighing that medium-term revenue trajectory against the broader industry's one-year forecast for expansion of 17% shows it's an unpleasant look.
将中期收入轨迹与整个行业一年内对17%的扩张预测进行权衡,可以看出这种情况令人不快。
With this in mind, we understand why Cedar DevelopmentLtd's P/S is lower than most of its industry peers. However, we think shrinking revenues are unlikely to lead to a stable P/S over the longer term, which could set up shareholders for future disappointment. There's potential for the P/S to fall to even lower levels if the company doesn't improve its top-line growth.
考虑到这一点,我们理解了为什么Cedar Development Ltd的市盈率低于大多数行业同行。但是,我们认为,从长远来看,收入萎缩不太可能导致市盈率稳定,这可能会使股东未来感到失望。如果该公司不改善收入增长,市盈率有可能降至更低的水平。
What Does Cedar DevelopmentLtd's P/S Mean For Investors?
Cedar Development Ltd的P/S对投资者意味着什么?
Despite Cedar DevelopmentLtd's share price climbing recently, its P/S still lags most other companies. Typically, we'd caution against reading too much into price-to-sales ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
尽管Cedar Development Ltd的股价最近攀升,但其市盈率仍然落后于大多数其他公司。通常,在做出投资决策时,我们会告诫不要过多地考虑价格与销售比率,尽管这可以充分揭示其他市场参与者对公司的看法。
Our examination of Cedar DevelopmentLtd confirms that the company's shrinking revenue over the past medium-term is a key factor in its low price-to-sales ratio, given the industry is projected to grow. Right now shareholders are accepting the low P/S as they concede future revenue probably won't provide any pleasant surprises either. Given the current circumstances, it seems unlikely that the share price will experience any significant movement in either direction in the near future if recent medium-term revenue trends persist.
我们对Cedar DevelopmentLtd的审查证实,鉴于该行业预计将增长,该公司在过去中期收入的萎缩是其低市销比的关键因素。目前,股东们正在接受低市盈率,因为他们承认未来的收入可能也不会带来任何惊喜。鉴于目前的情况,如果最近的中期收入趋势持续下去,股价似乎不太可能在不久的将来出现任何重大波动。
Plus, you should also learn about this 1 warning sign we've spotted with Cedar DevelopmentLtd.
另外,你还应该了解这个 我们在雪松开发有限公司发现了 1 个警告信号。
If strong companies turning a profit tickle your fancy, then you'll want to check out this free list of interesting companies that trade on a low P/E (but have proven they can grow earnings).
如果你喜欢盈利的实力雄厚的公司,那么你会想看看这个 免费的 以低市盈率交易(但已证明可以增加收益)的有趣公司名单。
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Simply Wall St 的这篇文章本质上是一般性的。 我们仅使用不偏不倚的方法根据历史数据和分析师预测提供评论,我们的文章并非旨在提供财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能未将最新的价格敏感型公司公告或定性材料考虑在内。简而言之,华尔街对上述任何股票都没有头寸。