Comfort Systems USA, Inc. (NYSE:FIX) shareholders have had their patience rewarded with a 25% share price jump in the last month. The last month tops off a massive increase of 101% in the last year.
After such a large jump in price, Comfort Systems USA's price-to-earnings (or "P/E") ratio of 31.3x might make it look like a strong sell right now compared to the market in the United States, where around half of the companies have P/E ratios below 16x and even P/E's below 9x are quite common. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so lofty.
Comfort Systems USA certainly has been doing a good job lately as its earnings growth has been positive while most other companies have been seeing their earnings go backwards. It seems that many are expecting the company to continue defying the broader market adversity, which has increased investors' willingness to pay up for the stock. If not, then existing shareholders might be a little nervous about the viability of the share price.
If you'd like to see what analysts are forecasting going forward, you should check out our free report on Comfort Systems USA.
How Is Comfort Systems USA's Growth Trending?
Comfort Systems USA's P/E ratio would be typical for a company that's expected to deliver very strong growth, and importantly, perform much better than the market.
If we review the last year of earnings growth, the company posted a terrific increase of 27%. The latest three year period has also seen an excellent 109% overall rise in EPS, aided by its short-term performance. So we can start by confirming that the company has done a great job of growing earnings over that time.
Turning to the outlook, the next year should generate growth of 17% as estimated by the four analysts watching the company. That's shaping up to be materially higher than the 13% growth forecast for the broader market.
In light of this, it's understandable that Comfort Systems USA's P/E sits above the majority of other companies. It seems most investors are expecting this strong future growth and are willing to pay more for the stock.
What We Can Learn From Comfort Systems USA's P/E?
Shares in Comfort Systems USA have built up some good momentum lately, which has really inflated its P/E. 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.
As we suspected, our examination of Comfort Systems USA's analyst forecasts revealed that its superior earnings outlook is contributing to its high P/E. Right now shareholders are comfortable with the P/E as they are quite confident future earnings aren't under threat. It's hard to see the share price falling strongly in the near future under these circumstances.
A lot of potential risks can sit within a company's balance sheet. Take a look at our free balance sheet analysis for Comfort Systems USA with six simple checks on some of these key factors.
You might be able to find a better investment than Comfort Systems USA. If you want a selection of possible candidates, check out this free list of interesting companies that trade on a low P/E (but have proven they can grow earnings).
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このように価格が大幅に上昇した後、Comfort Systems USAの株価収益率(または「P/E」)の31.3倍は、約半数の企業の株価収益率が16倍未満で、株価収益率が9倍未満であることが一般的である米国市場と比較して、今のところ売りが好調に見えるかもしれません。しかし、株価収益率を額面通りに受け取るのは賢明ではありません。なぜそれがそれほど高いのか説明があるかもしれないからです。
Comfort Systems USAは、他のほとんどの企業の収益が後退している一方で、収益の伸びがプラスになっているため、最近は確かに好調です。多くの人が、投資家の株式への支払い意欲が高まっている、より広範な市場の逆境に会社が引き続き立ち向かうことを期待しているようです。そうでなければ、既存の株主は株価の存続可能性に少し不安を感じるかもしれません。
アナリストの今後の予測を知りたい場合は、Comfort Systems USAに関する無料レポートをご覧ください。
コンフォート・システムズUSAの成長傾向はどうですか?
Comfort Systems USAの株価収益率は、非常に力強い成長を遂げ、重要なことに、市場よりもはるかに優れた業績が見込まれる企業にとって典型的なものです。
Comfort Systems USAの株式は最近好調な勢いを増しており、それが株価収益率を大幅に押し上げています。通常、投資判断を下す際には、株価収益率を読みすぎないように注意しますが、他の市場参加者が会社についてどう思っているかについては多くのことが明らかになります。
予想通り、Comfort Systems USAのアナリスト予測を調べたところ、その優れた収益見通しが高い株価収益率の一因となっていることがわかりました。現在、株主は将来の収益が脅威にさらされていないと確信しているため、株価収益に満足しています。このような状況では、近い将来、株価が大幅に下落することは考えにくいです。
企業の貸借対照表には、多くの潜在的なリスクが潜んでいます。Comfort Systems USAの無料貸借対照表分析を見てください。これらの主な要因のいくつかについて6つの簡単なチェックがあります。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。