Cincinnati Financial Corporation's (NASDAQ:CINF) Share Price Could Signal Some Risk
Cincinnati Financial Corporation's (NASDAQ:CINF) Share Price Could Signal Some Risk
Cincinnati Financial Corporation's (NASDAQ:CINF) price-to-sales (or "P/S") ratio of 1.7x may not look like an appealing investment opportunity when you consider close to half the companies in the Insurance industry in the United States have P/S ratios below 1x. However, the P/S might be high for a reason and it requires further investigation to determine if it's justified.
考虑到美国保险业将近一半的公司的市盈率低于1倍,辛辛那提金融公司(纳斯达克股票代码:CINF)的1.7倍市售率(或 “市盈率”)可能看起来不是一个有吸引力的投资机会。但是,市盈率之高可能是有原因的,需要进一步调查以确定其是否合理。
See our latest analysis for Cincinnati Financial
查看我们对辛辛那提金融的最新分析
![](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20231228/0-234231c0fc65040dae4154381677dad1-0-c44c928e0b2ec8b129e20007987e381e.png/big)
NasdaqGS:CINF Price to Sales Ratio vs Industry December 28th 2023
NASDAQGS: CINF 与行业的市销比率 2023 年 12 月 28 日
How Cincinnati Financial Has Been Performing
辛辛那提金融的表现如何
Recent times have been advantageous for Cincinnati Financial as its revenues have been rising faster than most other companies. It seems the market expects this form will continue into the future, hence the elevated P/S ratio. If not, then existing shareholders might be a little nervous about the viability of the share price.
最近对辛辛那提金融来说是有利的,因为其收入的增长速度快于大多数其他公司。看来市场预计这种形式将持续到未来,因此市盈率会升高。如果不是,那么现有股东可能会对股价的可行性有些紧张。
If you'd like to see what analysts are forecasting going forward, you should check out our free report on Cincinnati Financial.
如果你想了解分析师对未来的预测,你应该查看我们关于辛辛那提金融的免费报告。
What Are Revenue Growth Metrics Telling Us About The High P/S?
收入增长指标告诉我们高市盈率有哪些?
Cincinnati Financial's P/S ratio would be typical for a company that's expected to deliver solid growth, and importantly, perform better than the industry.
辛辛那提金融的市盈率对于一家有望实现稳健增长且重要的是表现优于该行业的公司来说是典型的市盈率。
Taking a look back first, we see that the company grew revenue by an impressive 44% last year. The strong recent performance means it was also able to grow revenue by 40% in total over the last three years. Accordingly, shareholders would have definitely welcomed those medium-term rates of revenue growth.
首先回顾一下,我们发现该公司去年的收入增长了令人印象深刻的44%。最近的强劲表现意味着它在过去三年中总收入增长了40%。因此,股东们肯定会对这些中期收入增长率表示欢迎。
Turning to the outlook, the next year should bring diminished returns, with revenue decreasing 3.1% as estimated by the eight analysts watching the company. Meanwhile, the broader industry is forecast to expand by 6.3%, which paints a poor picture.
谈到前景,明年的回报应该会减少,根据关注该公司的八位分析师的估计,收入将下降3.1%。同时,整个行业预计将增长6.3%,这描绘了一幅糟糕的景象。
In light of this, it's alarming that Cincinnati Financial's P/S sits above the majority of other companies. It seems most investors are hoping for a turnaround in the company's business prospects, but the analyst cohort is not so confident this will happen. Only the boldest would assume these prices are sustainable as these declining revenues are likely to weigh heavily on the share price eventually.
有鉴于此,令人震惊的是,辛辛那提金融的市盈率高于其他大多数公司。看来大多数投资者都希望公司的业务前景出现转机,但分析师对这种情况会发生的信心不大。只有最大胆的人才会假设这些价格是可持续的,因为这些收入的下降最终可能会严重压制股价。
What Does Cincinnati Financial's P/S Mean For Investors?
辛辛那提金融的市盈率对投资者意味着什么?
While the price-to-sales ratio shouldn't be the defining factor in whether you buy a stock or not, it's quite a capable barometer of revenue expectations.
尽管市销比不应该成为决定你是否买入股票的决定性因素,但它是衡量收入预期的有力晴雨表。
We've established that Cincinnati Financial currently trades on a much higher than expected P/S for a company whose revenues are forecast to decline. Right now we aren't comfortable with the high P/S as the predicted future revenue decline likely to impact the positive sentiment that's propping up the P/S. At these price levels, investors should remain cautious, particularly if things don't improve.
我们已经确定,对于一家预计收入将下降的公司,辛辛那提金融目前的交易市盈率远高于预期。目前,我们对高市盈率不满意,因为预期的未来收入下降可能会影响支撑市盈率的积极情绪。在这些价格水平上,投资者应保持谨慎,尤其是在情况没有改善的情况下。
We don't want to rain on the parade too much, but we did also find 1 warning sign for Cincinnati Financial that you need to be mindful of.
我们不想在游行队伍中下太多雨,但我们也为辛辛那提金融找到了一个你需要注意的警告信号。
Of course, profitable companies with a history of great earnings growth are generally safer bets. So you may wish to see this free collection of other companies that have reasonable P/E ratios and have grown earnings strongly.
当然,具有良好收益增长历史的盈利公司通常是更安全的选择。因此,您可能希望看到这些免费收集的市盈率合理且收益增长强劲的其他公司。
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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提供基于历史数据和分析师预测的评论,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,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。