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,對於一些股東來說,智道國際(集團)有限公司(HKG:1220)股價在過去30天裡暴跌26%,延續了最近的痛苦。最近的下跌為股東們災難性的12個月畫上了句號,在此期間,他們坐擁57%的損失。
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.
即使在股價下跌如此之大之後,你對志道國際(控股)S/S 0.1倍的本益比仍然可以理解,因為香港建築業的市售比(P/S)中值也接近0.3倍。然而,如果本益比沒有合理的基礎,投資者可能會忽視一個明顯的機會或潛在的挫折。
View our latest analysis for Zhidao International (Holdings)
查看我們對智道國際(控股)的最新分析
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How Has Zhidao International (Holdings) Performed Recently?
智道國際(控股)最近表現如何?
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.
最近一段時間對智道國際(控股)來說相當有利,因為它的收入一直在快速增長。或許,市場預期未來的營收表現將逐漸減弱,這使得本益比S不再上漲。那些看好智道國際(控股)的人會希望情況並非如此,這樣他們就可以以較低的估值買入該股。
Is There Some Revenue Growth Forecasted For Zhidao International (Holdings)?
志道國際(控股)有沒有收入增長的預測?
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.
志道國際(控股)的S本益比/S本益比對於一家預計只會實現適度增長,而且重要的是表現與行業一致的公司來說是典型的。
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.
首先回顧一下,我們看到該公司去年的收入增長了令人印象深刻的38%。營收較三年前累計增長9.6%,主要得益於過去12個月的增長。因此,我們可以從確認該公司在這段時間內確實在收入增長方面做得很好開始。
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.
與預計在未來12個月內實現15%增長的行業相比,根據最近的中期年化收入結果,該公司的增長勢頭較弱。
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.
有鑒於此,志道國際(控股)的S/S與大多數其他公司的股價走勢一致,這一點很奇怪。似乎大多數投資者忽視了近期相當有限的增長率,並願意為該股的敞口買入。維持這些價格將很難實現,因為近期營收趨勢的持續可能最終會拖累該股。
What Does Zhidao International (Holdings)'s P/S Mean For Investors?
智道國際(控股)S/S對投資者意味著什麼?
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.
在志道國際(控股)S股價暴跌後,其本益比S只是守住了行業本益比的中值。僅用市銷率來決定你是否應該出售股票是不明智的,但它可以成為該公司未來前景的實用指南。
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.
我們已經確定,致道國際(控股)S的平均本益比S有點令人驚訝,因為該公司最近三年的增長低於更廣泛的行業預測。當我們看到營收疲軟且增速低於行業增長時,我們懷疑該公司股價有下跌的風險,使本益比回落到預期水準。除非最近的中期狀況有所改善,否則很難接受當前股價為公允價值。
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.
同樣值得注意的是,我們發現智道國際(控股)的3個警告標誌(2不可忽視!)這是你需要考慮的。
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.
如果過去收益增長穩健的公司符合你的胃口,你可能想看看這個免費其他盈利增長強勁、本益比較低的公司的集合。
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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.