Unpleasant Surprises Could Be In Store For Suzhou QingYue Optoelectronics Technology Co., Ltd.'s (SHSE:688496) Shares
Unpleasant Surprises Could Be In Store For Suzhou QingYue Optoelectronics Technology Co., Ltd.'s (SHSE:688496) Shares
With a median price-to-sales (or "P/S") ratio of close to 8.2x in the Semiconductor industry in China, you could be forgiven for feeling indifferent about Suzhou QingYue Optoelectronics Technology Co., Ltd.'s (SHSE:688496) P/S ratio of 7.7x. Although, it's not wise to simply ignore the P/S without explanation as investors may be disregarding a distinct opportunity or a costly mistake.
中國半導體行業的市銷率中值接近8.2倍,你對此漠不關心也是情有可原的秀克州青月光電科技有限公司S(上交所:688496)P/S比率為7.7倍。儘管如此,在沒有解釋的情況下簡單地忽視本益比S是不明智的,因為投資者可能會忽視一個獨特的機會或代價高昂的錯誤。
Check out our latest analysis for Suzhou QingYue Optoelectronics Technology
查看我們對秀克州清越光電科技的最新分析
![ps-multiple-vs-industry](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231031/0-e4153b589b025f00f63473d1bbb0c14d-0-770c05145e756f299c75c554f153b52a.png/big)
How Has Suzhou QingYue Optoelectronics Technology Performed Recently?
秀克州清越光電科技近期表現如何?
For instance, Suzhou QingYue Optoelectronics Technology's receding revenue in recent times would have to be some food for thought. Perhaps investors believe the recent revenue performance is enough to keep in line with the industry, which is keeping the P/S from dropping off. If you like the company, you'd at least be hoping this is the case so that you could potentially pick up some stock while it's not quite in favour.
例如,秀克州清越光電科技公司近期營收下滑的情況就值得深思了。或許投資者認為,最近的營收表現足以與行業保持一致,這讓本益比/S指數不會下跌。如果你喜歡這家公司,你至少會希望情況是這樣的,這樣你就可以在它不太受歡迎的時候買入一些股票。
What Are Revenue Growth Metrics Telling Us About The P/S?
收入增長指標告訴我們有關本益比的哪些資訊?
The only time you'd be comfortable seeing a P/S like Suzhou QingYue Optoelectronics Technology's is when the company's growth is tracking the industry closely.
只有當秀克州清越光電科技的發展密切跟蹤行業發展時,你才會感到放心地看到秀克州青月光電科技這樣的P/S。
In reviewing the last year of financials, we were disheartened to see the company's revenues fell to the tune of 18%. However, a few very strong years before that means that it was still able to grow revenue by an impressive 66% in total over the last three years. Accordingly, while they would have preferred to keep the run going, shareholders would definitely welcome the medium-term rates of revenue growth.
回顧過去一年的財務狀況,我們沮喪地看到該公司的收入下降到了18%。然而,在此之前的幾年非常強勁,這意味著它在過去三年的總收入仍能增長66%,令人印象深刻。因此,儘管股東們更願意繼續運營,但他們肯定會歡迎中期的收入增長率。
Comparing the recent medium-term revenue trends against the industry's one-year growth forecast of 40% shows it's noticeably less attractive.
將最近的中期營收趨勢與該行業一年40%的增長預期進行比較,可以發現它的吸引力明顯下降。
With this information, we find it interesting that Suzhou QingYue Optoelectronics Technology is trading at a fairly similar P/S compared to the industry. It seems most investors are ignoring the fairly limited recent growth rates and are willing to pay up for exposure to the stock. They may be setting themselves up for future disappointment if the P/S falls to levels more in line with recent growth rates.
有了這些資訊,我們發現有趣的是,秀克州青月光電科技的本益比與S的行業相當。似乎大多數投資者都忽視了最近相當有限的增長率,並願意為股票敞口支付高價。如果本益比/S指數跌至與近期增速更接近的水準,他們可能會在未來感到失望。
The Key Takeaway
關鍵的外賣
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.
僅僅用市銷率來決定你是否應該出售你的股票是不明智的,但它可以成為公司未來前景的實用指南。
Our examination of Suzhou QingYue Optoelectronics Technology revealed its poor three-year revenue trends aren't resulting in a lower P/S as per our expectations, given they look worse than current industry outlook. 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. If recent medium-term revenue trends continue, the probability of a share price decline will become quite substantial, placing shareholders at risk.
我們對秀克州清越光電科技的調查顯示,其糟糕的三年營收趨勢並沒有像我們預期的那樣導致本益比下降,因為它們看起來比當前的行業前景更糟糕。當我們看到營收疲軟且增長慢於行業增長時,我們懷疑該公司股價有下跌的風險,使本益比/S重新符合預期。如果近期的中期營收趨勢持續下去,股價下跌的可能性將變得相當大,將股東置於風險之中。
It's always necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Suzhou QingYue Optoelectronics Technology, and understanding these should be part of your investment process.
總是有必要考慮到投資風險的幽靈無處不在。我們已經確認了秀克州清越光電科技的2個警示標誌,並瞭解這些應該是你投資過程的一部分。
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.
當然了,利潤豐厚、盈利增長迅速的公司通常是更安全的押注那就是。所以你可能想看看這個免費其他本益比合理、盈利增長強勁的公司的集合。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫.或者,也可以給編輯組發電子郵件,地址是暗示Wallst.com。
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.