More Unpleasant Surprises Could Be In Store For Zhidao International (Holdings) Limited's (HKG:1220) Shares After Tumbling 26%
More Unpleasant Surprises Could Be In Store For Zhidao International (Holdings) Limited's (HKG:1220) Shares After Tumbling 26%
Unfortunately for some shareholders, the Zhidao International (Holdings) Limited (HKG:1220) share price has dived 26% in the last thirty days, prolonging recent pain. The recent drop completes a disastrous twelve months for shareholders, who are sitting on a 57% loss during that time.
不幸的是,对于一些股东来说, 智道国际(控股)有限公司 (HKG: 1220) 股价在过去三十天中下跌了26%,延续了最近的痛苦。对于股东来说,最近的下跌结束了灾难性的十二个月,在此期间,他们的亏损为57%。
Even after such a large drop in price, you could still be forgiven for feeling indifferent about Zhidao International (Holdings)'s P/S ratio of 0.1x, since the median price-to-sales (or "P/S") ratio for the Construction industry in Hong Kong is also close to 0.3x. However, investors might be overlooking a clear opportunity or potential setback if there is no rational basis for the P/S.
即使在价格大幅下跌之后,你对智道国际(控股)0.1倍的市盈率漠不关心仍然是可以原谅的,因为香港建筑业的市盈率(或 “市盈率”)中位数也接近0.3倍。但是,如果市盈率没有合理的基础,投资者可能会忽视明显的机会或潜在的挫折。
View our latest analysis for Zhidao International (Holdings)
查看我们对智道国际(控股)的最新分析
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How Has Zhidao International (Holdings) Performed Recently?
智道国际(控股)最近的表现如何?
Recent times have been quite advantageous for Zhidao International (Holdings) as its revenue has been rising very briskly. Perhaps the market is expecting future revenue performance to taper off, which has kept the P/S from rising. Those who are bullish on Zhidao International (Holdings) will be hoping that this isn't the case, so that they can pick up the stock at a lower valuation.
最近对智道国际(控股)来说非常有利,因为其收入增长非常迅速。也许市场预计未来的收入表现将逐渐减弱,这使市盈率无法上升。那些看好智道国际(控股)的人会希望情况并非如此,这样他们就可以以较低的估值买入该股。
Is There Some Revenue Growth Forecasted For Zhidao International (Holdings)?
智道国际(控股)有收入增长的预测吗?
Zhidao International (Holdings)'s P/S ratio would be typical for a company that's only expected to deliver moderate growth, and importantly, perform in line with the industry.
智道国际(控股)的市盈率对于一家预计仅实现温和增长且重要的是表现与行业一致的公司来说是典型的。
Taking a look back first, we see that the company grew revenue by an impressive 38% last year. Revenue has also lifted 9.6% 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.
首先回顾一下,我们发现该公司去年的收入增长了38%,令人印象深刻。总收入也比三年前增长了9.6%,这主要归功于过去12个月的增长。因此,我们可以首先确认该公司在这段时间内确实在增加收入方面做得很好。
Comparing that to the industry, which is predicted to deliver 15% growth in the next 12 months, the company's momentum is weaker, based on recent medium-term annualised revenue results.
根据最近的中期年化收入业绩,该行业预计将在未来12个月内实现15%的增长,相比之下,该公司的势头较弱。
In light of this, it's curious that Zhidao International (Holdings)'s P/S sits in line with the majority of other companies. It seems most investors are ignoring the fairly limited recent growth rates and are willing to pay up for exposure to the stock. Maintaining these prices will be difficult to achieve as a continuation of recent revenue trends is likely to weigh down the shares eventually.
有鉴于此,奇怪的是,智道国际(控股)的市盈率与其他大多数公司持平。看来大多数投资者都忽视了近期相当有限的增长率,他们愿意为股票敞口付出代价。维持这些价格将很难实现,因为最近的收入趋势的持续最终可能会压低股价。
What Does Zhidao International (Holdings)'s P/S Mean For Investors?
智道国际(控股)的市盈率对投资者意味着什么?
Following Zhidao International (Holdings)'s share price tumble, its P/S is just clinging on to the industry median P/S. Using the price-to-sales ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.
在智道国际(控股)股价暴跌之后,其市盈率仅维持行业中位数。仅使用市售比来确定是否应该出售股票是不明智的,但它可以作为公司未来前景的实用指南。
We've established that Zhidao International (Holdings)'s average P/S is a bit surprising since its recent three-year growth is lower than the wider industry forecast. When we see weak revenue with slower than industry growth, we suspect the share price is at risk of declining, bringing the P/S back in line with expectations. Unless the recent medium-term conditions improve, it's hard to accept the current share price as fair value.
我们已经确定,智道国际(控股)的平均市盈率有点令人惊讶,因为其最近的三年增长低于整个行业的预测。当我们看到收入疲软,增长低于行业增长时,我们怀疑股价有下跌的风险,从而使市盈率恢复到预期水平。除非最近的中期条件有所改善,否则很难接受当前的股价作为公允价值。
It is also worth noting that we have found 3 warning signs for Zhidao International (Holdings) (2 can't be ignored!) that you need to take into consideration.
还值得注意的是,我们已经发现 智道国际(控股)有3个警告标志 (2 不容忽视!)这是你需要考虑的。
If companies with solid past earnings growth is up your alley, you may wish to see this free collection of other companies with strong earnings growth and low P/E ratios.
如果过去盈利增长稳健的公司是你的选择,你可能希望看到这个 免费的 汇集了其他盈利增长强劲且市盈率低的公司。
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Simply Wall St的这篇文章本质上是笼统的。 我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。 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,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。简而言之,华尔街在上述任何股票中都没有头寸。