Cedar Development Co.,Ltd. (SZSE:002485) Held Back By Insufficient Growth Even After Shares Climb 26%
Cedar Development Co.,Ltd. (SZSE:002485) Held Back By Insufficient Growth Even After Shares Climb 26%
Despite an already strong run, Cedar Development Co.,Ltd. (SZSE:002485) shares have been powering on, with a gain of 26% in the last thirty days. Looking back a bit further, it's encouraging to see the stock is up 28% in the last year.
儘管已經表現強勁, 雪松開發公司,有限公司 (SZSE: 002485)股價一直在上漲,在過去的三十天裏上漲了26%。再往前看,該股在去年上漲了28%,這令人鼓舞。
In spite of the firm bounce in price, Cedar DevelopmentLtd may still be sending buy signals at present with its price-to-sales (or "P/S") ratio of 1.2x, considering almost half of all companies in the Luxury industry in China have P/S ratios greater than 1.9x and even P/S higher than 4x aren't out of the ordinary. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the reduced P/S.
儘管公司價格出現反彈,但Cedar Development Ltd目前可能仍在發出買入信號,其市盈率(或 “市盈率”)爲1.2倍,因爲中國奢侈品行業近一半的公司市盈率超過1.9倍,甚至高於4倍的市盈率也並不罕見。儘管如此,我們需要更深入地挖掘以確定降低P/S是否有合理的基礎。
View our latest analysis for Cedar DevelopmentLtd
查看我們對雪松開發有限公司的最新分析
![ps-multiple-vs-industry](https://usnewsfile.moomoo.com/pic/0-19aceba1123884918cfb2a76db9444ef-0-36d7462584a13f794d372a9a47d4a392.png/big)
How Cedar DevelopmentLtd Has Been Performing
雪松開發有限公司的表現如何
For example, consider that Cedar DevelopmentLtd's financial performance has been poor lately as its revenue has been in decline. It might be that many expect the disappointing revenue performance to continue or accelerate, which has repressed the P/S. 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.
例如,假設Cedar DevelopmentLtd最近的財務表現不佳,因爲其收入一直在下降。可能是許多人預計令人失望的收入表現將持續或加速,這抑制了市盈率。如果你喜歡這家公司,你會希望情況並非如此,這樣你就有可能在股票失寵的時候買入一些股票。
Is There Any Revenue Growth Forecasted For Cedar DevelopmentLtd?
預計Cedar DevelopmentLtd的收入會增長嗎?
Cedar DevelopmentLtd's P/S ratio would be typical for a company that's only expected to deliver limited growth, and importantly, perform worse than the industry.
Cedar Development Ltd的市盈率對於一家預計增長有限、重要的是表現不如行業的公司來說是典型的。
Retrospectively, the last year delivered a frustrating 12% decrease to the company's top line. This means it has also seen a slide in revenue over the longer-term as revenue is down 45% in total over the last three years. So unfortunately, we have to acknowledge that the company has not done a great job of growing revenue over that time.
回想起來,去年公司的收入下降了12%,令人沮喪。這意味着從長遠來看,它的收入也有所下滑,因爲在過去三年中,總收入下降了45%。因此,不幸的是,我們必須承認,在那段時間裏,該公司在增加收入方面做得不好。
Weighing that medium-term revenue trajectory against the broader industry's one-year forecast for expansion of 17% shows it's an unpleasant look.
將中期收入軌跡與整個行業一年內對17%的擴張預測進行權衡,可以看出這種情況令人不快。
With this in mind, we understand why Cedar DevelopmentLtd's P/S is lower than most of its industry peers. 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. There's potential for the P/S to fall to even lower levels if the company doesn't improve its top-line growth.
考慮到這一點,我們理解了爲甚麼Cedar Development Ltd的市盈率低於大多數行業同行。但是,我們認爲,從長遠來看,收入萎縮不太可能導致市盈率穩定,這可能會使股東未來感到失望。如果該公司不改善收入增長,市盈率有可能降至更低的水平。
What Does Cedar DevelopmentLtd's P/S Mean For Investors?
Cedar Development Ltd的P/S對投資者意味着甚麼?
Despite Cedar DevelopmentLtd's share price climbing recently, its P/S still lags most other companies. Typically, we'd caution against reading too much into price-to-sales ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
儘管Cedar Development Ltd的股價最近攀升,但其市盈率仍然落後於大多數其他公司。通常,在做出投資決策時,我們會告誡不要過多地考慮價格與銷售比率,儘管這可以充分揭示其他市場參與者對公司的看法。
Our examination of Cedar DevelopmentLtd confirms that the company's shrinking revenue over the past medium-term is a key factor in its low price-to-sales ratio, given the industry is projected to grow. Right now shareholders are accepting the low P/S as they concede future revenue probably won't provide any pleasant surprises either. Given the current circumstances, it seems unlikely that the share price will experience any significant movement in either direction in the near future if recent medium-term revenue trends persist.
我們對Cedar DevelopmentLtd的審查證實,鑑於該行業預計將增長,該公司在過去中期收入的萎縮是其低市銷比的關鍵因素。目前,股東們正在接受低市盈率,因爲他們承認未來的收入可能也不會帶來任何驚喜。鑑於目前的情況,如果最近的中期收入趨勢持續下去,股價似乎不太可能在不久的將來出現任何重大波動。
Plus, you should also learn about this 1 warning sign we've spotted with Cedar DevelopmentLtd.
另外,你還應該瞭解這個 我們在雪松開發有限公司發現了 1 個警告信號。
If strong companies turning a profit tickle your fancy, then you'll want to check out this free list of interesting companies that trade on a low P/E (but have proven they can grow earnings).
如果你喜歡盈利的實力雄厚的公司,那麼你會想看看這個 免費的 以低市盈率交易(但已證明可以增加收益)的有趣公司名單。
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Simply Wall St 的這篇文章本質上是一般性的。 我們僅使用不偏不倚的方法根據歷史數據和分析師預測提供評論,我們的文章並非旨在提供財務建議。 它不構成買入或賣出任何股票的建議,也沒有考慮您的目標或財務狀況。我們的目標是爲您提供由基本面數據驅動的長期重點分析。請注意,我們的分析可能未將最新的價格敏感型公司公告或定性材料考慮在內。簡而言之,華爾街對上述任何股票都沒有頭寸。