Little Excitement Around Asia-express Logistics Holdings Limited's (HKG:8620) Earnings As Shares Take 36% Pounding
Little Excitement Around Asia-express Logistics Holdings Limited's (HKG:8620) Earnings As Shares Take 36% Pounding
Asia-express Logistics Holdings Limited (HKG:8620) shares have had a horrible month, losing 36% after a relatively good period beforehand. The drop over the last 30 days has capped off a tough year for shareholders, with the share price down 21% in that time.
亞洲快遞物流控股有限公司(HKG:8620)股價經歷了可怕的一個月,在經歷了一段相對較好的時期後,下跌了36%。過去30天的下跌為股東們艱難的一年畫上了句號,股價在此期間下跌了21%。
In spite of the heavy fall in price, Asia-express Logistics Holdings may still be sending very bullish signals at the moment with its price-to-earnings (or "P/E") ratio of -3.9x, since almost half of all companies in Hong Kong have P/E ratios greater than 10x and even P/E's higher than 21x are not unusual. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so limited.
儘管股價大幅下跌,但亞洲快遞物流控股有限公司目前可能仍在發出非常看漲的信號,其本益比(P/E)為-3.9倍,因為香港近半數公司的本益比高於10倍,即使本益比高於21倍也並不罕見。儘管如此,僅僅從面值來看待本益比是不明智的,因為可能會有一個解釋,為什麼它如此有限。
For example, consider that Asia-express Logistics Holdings' financial performance has been poor lately as its earnings have been in decline. It might be that many expect the disappointing earnings performance to continue or accelerate, which has repressed the P/E. However, if this doesn't eventuate then existing shareholders may be feeling optimistic about the future direction of the share price.
例如,考慮到亞洲快遞物流控股公司最近的財務表現一直不佳,因為它的收益一直在下降。許多人可能預計令人失望的盈利表現將繼續或加速,這抑制了本益比。然而,如果這不是最終的結果,那麼現有股東可能對未來股價的走勢感到樂觀。
View our latest analysis for Asia-express Logistics Holdings
查看我們對亞洲的最新分析-快遞物流控股
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Does Growth Match The Low P/E?
增長是否與低本益比相匹配?
There's an inherent assumption that a company should far underperform the market for P/E ratios like Asia-express Logistics Holdings' to be considered reasonable.
有一種固有的假設,即一家公司的本益比應該遠遠遜於市場,這樣的本益比才是合理的。
Retrospectively, the last year delivered a frustrating 10% decrease to the company's bottom line. Unfortunately, that's brought it right back to where it started three years ago with EPS growth being virtually non-existent overall during that time. So it appears to us that the company has had a mixed result in terms of growing earnings over that time.
回顧過去一年,該公司的利潤令人沮喪地下降了10%。不幸的是,這讓它回到了三年前的起點,在那段時間裡,每股收益幾乎沒有增長。因此,在我們看來,在這段時間裡,該公司在收益增長方面的結果好壞參半。
This is in contrast to the rest of the market, which is expected to grow by 25% over the next year, materially higher than the company's recent medium-term annualised growth rates.
這與其他市場形成對比,後者預計明年將增長25%,大大高於該公司最近的中期年化增長率。
With this information, we can see why Asia-express Logistics Holdings is trading at a P/E lower than the market. Apparently many shareholders weren't comfortable holding on to something they believe will continue to trail the bourse.
有了這些資訊,我們就可以理解為什麼亞洲快遞物流控股公司的本益比低於市場。顯然,許多股東對持有一隻他們認為將繼續追隨該交易所走勢的股票感到不安。
What We Can Learn From Asia-express Logistics Holdings' P/E?
我們可以從亞洲快遞物流控股公司的本益比中學到什麼?
Shares in Asia-express Logistics Holdings have plummeted and its P/E is now low enough to touch the ground. Typically, we'd caution against reading too much into price-to-earnings ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
亞洲快遞物流控股公司的股價暴跌,其本益比現在已經低到可以觸地的程度。通常,在做出投資決策時,我們會告誡不要過度解讀本益比,儘管它可以充分揭示其他市場參與者對該公司的看法。
As we suspected, our examination of Asia-express Logistics Holdings revealed its three-year earnings trends are contributing to its low P/E, given they look worse than current market expectations. At this stage investors feel the potential for an improvement in earnings isn't great enough to justify a higher P/E ratio. If recent medium-term earnings trends continue, it's hard to see the share price rising strongly in the near future under these circumstances.
正如我們懷疑的那樣,我們對亞洲快遞物流控股公司的調查顯示,鑑於其本益比低於當前市場預期,該公司三年來的盈利趨勢是導致其本益比較低的原因之一。在這個階段,投資者認為盈利改善的潛力還不夠大,不足以證明提高本益比是合理的。如果近期的中期盈利趨勢繼續下去,在這種情況下,很難看到股價在不久的將來強勁上漲。
Having said that, be aware Asia-express Logistics Holdings is showing 4 warning signs in our investment analysis, and 2 of those are significant.
話雖如此,但請注意亞洲快遞物流控股公司出現4個警告信號在我們的投資分析中,其中兩個是重要的。
It's important to make sure you look for a great company, not just the first idea you come across. So take a peek at this free list of interesting companies with strong recent earnings growth (and a low P/E).
重要的是確保你尋找的是一家偉大的公司,而不僅僅是你遇到的第一個想法。所以讓我們來看看這個免費近期收益增長強勁(本益比較低)的有趣公司名單。
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本文由Simply Wall St.撰寫,具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.