More Unpleasant Surprises Could Be In Store For China Oral Industry Group Holdings Limited's (HKG:8406) Shares After Tumbling 30%
More Unpleasant Surprises Could Be In Store For China Oral Industry Group Holdings Limited's (HKG:8406) Shares After Tumbling 30%
The China Oral Industry Group Holdings Limited (HKG:8406) share price has softened a substantial 30% over the previous 30 days, handing back much of the gains the stock has made lately. For any long-term shareholders, the last month ends a year to forget by locking in a 58% share price decline.
这个 中国口腔产业集团控股有限公司 (HKG: 8406) 股价在过去30天中大幅下跌了30%,收回了该股最近取得的大部分涨幅。对于任何长期股东来说,上个月的股价下跌了58%,从而结束了一年的忘记。
Even after such a large drop in price, you could still be forgiven for thinking China Oral Industry Group Holdings is a stock not worth researching with a price-to-sales ratios (or "P/S") of 1x, considering almost half the companies in Hong Kong's Leisure industry have P/S ratios below 0.4x. However, the P/S might be high for a reason and it requires further investigation to determine if it's justified.
即使在价格大幅下跌之后,考虑到香港休闲行业中将近一半的公司的市盈率低于0.4倍,你仍然可以原谅地认为中国口腔工业集团控股公司是一只市售率(或 “市盈率”)为1倍的不值得研究的股票。但是,市盈率高可能是有原因的,需要进一步调查才能确定是否合理。
See our latest analysis for China Oral Industry Group Holdings
查看我们对中国口腔产业集团控股的最新分析
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How China Oral Industry Group Holdings Has Been Performing
中国口腔产业集团控股公司的表现如何
As an illustration, revenue has deteriorated at China Oral Industry Group Holdings over the last year, which is not ideal at all. It might be that many expect the company to still outplay most other companies over the coming period, which has kept the P/S from collapsing. However, if this isn't the case, investors might get caught out paying too much for the stock.
举例来说,中国口腔工业集团控股公司的收入在过去一年中有所恶化,这并不理想。许多人可能预计,在未来一段时间内,该公司的表现仍将超过大多数其他公司,这使市盈率免于崩溃。但是,如果不是这样,投资者可能会因为为股票支付过多费用而陷入困境。
Is There Enough Revenue Growth Forecasted For China Oral Industry Group Holdings?
预计中国口腔工业集团控股公司的收入增长是否足够?
In order to justify its P/S ratio, China Oral Industry Group Holdings would need to produce impressive growth in excess of the industry.
为了证明其市盈率是合理的,中国口腔工业集团控股公司需要实现超过该行业的惊人增长。
In reviewing the last year of financials, we were disheartened to see the company's revenues fell to the tune of 44%. This means it has also seen a slide in revenue over the longer-term as revenue is down 35% 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.
在回顾去年的财务状况时,我们沮丧地看到该公司的收入降至44%。这意味着从长远来看,它的收入也有所下滑,因为在过去三年中,总收入下降了35%。因此,不幸的是,我们必须承认,在这段时间里,该公司在增加收入方面做得不好。
Comparing that to the industry, which is predicted to deliver 4.3% growth in the next 12 months, the company's downward momentum based on recent medium-term revenue results is a sobering picture.
与该行业相比,该行业预计将在未来12个月内实现4.3%的增长,根据最近的中期收入业绩,该公司的下行势头令人震惊。
With this information, we find it concerning that China Oral Industry Group Holdings is trading at a P/S higher than the industry. Apparently many investors in the company are way more bullish than recent times would indicate and aren't willing to let go of their stock at any price. There's a very good chance existing shareholders are setting themselves up for future disappointment if the P/S falls to levels more in line with the recent negative growth rates.
有了这些信息,我们发现令人担忧的是,中国口腔工业集团控股公司的市盈率高于该行业。显然,该公司的许多投资者比最近所显示的要看涨得多,他们不愿意不惜任何代价放弃股票。如果市盈率降至更符合最近的负增长率的水平,那么现有股东很有可能为未来的失望做好准备。
The Bottom Line On China Oral Industry Group Holdings' P/S
中国口腔工业集团控股公司市盈率的底线
China Oral Industry Group Holdings' P/S remain high even after its stock plunged. Generally, our preference is to limit the use of the price-to-sales ratio to establishing what the market thinks about the overall health of a company.
即使在股价暴跌之后,中国口腔工业集团控股公司的市盈率仍居高不下。通常,我们倾向于将价格与销售比的使用限制在确定市场对公司整体健康状况的看法上。
Our examination of China Oral Industry Group Holdings revealed its shrinking revenue over the medium-term isn't resulting in a P/S as low as we expected, given the industry is set to grow. Right now we aren't comfortable with the high P/S as this revenue performance is highly unlikely to support such positive sentiment for long. If recent medium-term revenue trends continue, it will place shareholders' investments at significant risk and potential investors in danger of paying an excessive premium.
我们对中国口腔产业集团控股公司的调查显示,鉴于该行业将增长,其中期收入萎缩并未导致市盈率像我们预期的那样低。目前,我们对高市盈率并不满意,因为这种收入表现极不可能长期支持这种积极的情绪。如果最近的中期收入趋势继续下去,这将使股东的投资面临重大风险,潜在投资者面临支付过高溢价的危险。
You should always think about risks. Case in point, we've spotted 4 warning signs for China Oral Industry Group Holdings you should be aware of, and 1 of them is a bit unpleasant.
你应该时刻考虑风险。一个很好的例子,我们已经发现了 中国口腔产业集团控股有4个警告信号 你应该知道,其中一个有点不愉快。
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.
当然, 具有良好收益增长历史的盈利公司通常是更安全的选择。所以你可能希望看到这个 免费的 收集其他市盈率合理且收益强劲增长的公司。
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Simply Wall St 的这篇文章本质上是笼统的。 我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。简而言之,华尔街在上述任何股票中都没有头寸。