Hiap Seng Industries Limited's (SGX:1L2) Shares Bounce 50% But Its Business Still Trails The Industry
Hiap Seng Industries Limited's (SGX:1L2) Shares Bounce 50% But Its Business Still Trails The Industry
Hiap Seng Industries Limited (SGX:1L2) shareholders are no doubt pleased to see that the share price has bounced 50% in the last month, although it is still struggling to make up recently lost ground. While recent buyers may be laughing, long-term holders might not be as pleased since the recent gain only brings the stock back to where it started a year ago.
Hiap Seng Industries Limited (SGX:1L2)的股东们无疑会很高兴，因为股票价格在过去一个月内反弹了50%，尽管它仍在努力弥补最近失去的地位。当最近的买家可能会开怀大笑时，长期的持有者可能不会很高兴，因为最近的涨幅仅将股票带回到一年前的价格水平。
In spite of the firm bounce in price, it would still be understandable if you think Hiap Seng Industries is a stock with good investment prospects with a price-to-sales ratios (or "P/S") of 0.4x, considering almost half the companies in Singapore's Energy Services industry have P/S ratios above 1x. However, the P/S might be low for a reason and it requires further investigation to determine if it's justified.
尽管价格有所反弹，如果您认为Hiap Seng Industries的市销率(P/S)为0.4倍的话，那么您认为Hiap Seng Industries是具有良好投资前景的股票，因为在新加坡能源服务行业中，几乎一半的公司的市销率在1倍以上。然而，低市销率可能有其原因，并需要进一步调查以确定其是否合理。
SGX:1L2 Price to Sales Ratio vs Industry June 4th 2024
SGX:1L2市销率与行业板块于2024年6月4日的对比
How Hiap Seng Industries Has Been Performing
Hiap Seng Industries的表现如何
With revenue growth that's exceedingly strong of late, Hiap Seng Industries has been doing very well. It might be that many expect the strong revenue performance to degrade substantially, which has repressed the P/S ratio. 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.
由于最近表现出色的营收增长，Hiap Seng Industries的表现非常出色。这可能是因为许多人期望强劲的营收表现会大幅下滑，这抑制了市销率。如果您喜欢该公司，您会希望情况并非如此，这样您就有可能在其不受青睐时购买一些股票。
We don't have analyst forecasts, but you can see how recent trends are setting up the company for the future by checking out our free report on Hiap Seng Industries' earnings, revenue and cash flow.
虽然我们没有分析师的预测，但您可以查看我们的免费报告，了解Hiap Seng Industries的收益、营业收入和现金流等最新趋势，以了解未来的发展方向。
Do Revenue Forecasts Match The Low P/S Ratio?
营业收入预测是否与低市销率相匹配?
In order to justify its P/S ratio, Hiap Seng Industries would need to produce sluggish growth that's trailing the industry.
为了证明自己的市销率是合理的，Hiap Seng Industries需要创造跑输行业板块的低增长。
Taking a look back first, we see that the company grew revenue by an impressive 34% last year. Despite this strong recent growth, it's still struggling to catch up as its three-year revenue frustratingly shrank by 15% overall. So unfortunately, we have to acknowledge that the company has not done a great job of growing revenues over that time.
首先回顾一下，我们可以看到去年该公司的营业收入增长了34%，这是一个令人印象深刻的数字。尽管最近有了强劲的增长，但它仍在努力追赶，因为其三年的营业收入总体上令人沮丧地下降了15%。因此，不幸的是，我们必须承认该公司在过去的时间里没有很好地增长营业收入。
Weighing that medium-term revenue trajectory against the broader industry's one-year forecast for expansion of 14% shows it's an unpleasant look.
将中期营收轨迹与行业为期一年的14%扩张预测进行对比后发现，整体情况并不乐观。
With this information, we are not surprised that Hiap Seng Industries is trading at a P/S lower than the industry. 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. Even just maintaining these prices could be difficult to achieve as recent revenue trends are already weighing down the shares.
根据这些信息，我们不会对Hiap Seng Industries以低于行业市销率交易感到惊讶。然而，我们认为萎缩的营业收入不太可能导致长期稳定的市销率，这可能会让股东们在未来感到失望。即使是维持这些价格也可能很难实现，因为最近的营收趋势已经压制了股票。
The Key Takeaway
重要提示
The latest share price surge wasn't enough to lift Hiap Seng Industries' P/S close to the industry median. 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.
最新的股价飙升还不足以将Hiap Seng Industries的市销率接近行业中位数。仅凭市销率来判断是否应该卖出股票是不明智的，但它可能是公司未来前景的一个实用指南。
As we suspected, our examination of Hiap Seng Industries revealed its shrinking revenue over the medium-term is contributing to its low P/S, given the industry is set to grow. At this stage investors feel the potential for an improvement in revenue isn't great enough to justify a higher P/S ratio. If recent medium-term revenue trends continue, it's hard to see the share price moving strongly in either direction in the near future under these circumstances.
正如我们所怀疑的那样，我们对Hiap Seng Industries的调查显示中期营收萎缩正在推动其市销率下降，因为该行业预计将会增长。在此阶段，投资者认为营收改善的潜力不足以证明更高的市销率是合理的。如果最近的中期营收趋势继续保持下去，在这种情况下，难以看到股价在不久的将来明显上涨或下跌。
Having said that, be aware Hiap Seng Industries is showing 2 warning signs in our investment analysis, you should know about.
不过需要注意的是，我们的投资分析显示Hiap Seng Industries出现了2个警示信号，需要了解。
If you're unsure about the strength of Hiap Seng Industries' business, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.
如果您对Hiap Seng Industries的业务实力不确定，为什么不探索一下我们的股票交互列表，了解其他您可能错过的公司的股票业务基本面呢？
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