Some Confidence Is Lacking In Daoming Optics&Chemical Co.,Ltd's (SZSE:002632) P/S
Some Confidence Is Lacking In Daoming Optics&Chemical Co.,Ltd's (SZSE:002632) P/S
When you see that almost half of the companies in the Chemicals industry in China have price-to-sales ratios (or "P/S") below 2.2x, Daoming Optics&Chemical Co.,Ltd (SZSE:002632) looks to be giving off some sell signals with its 3.1x P/S ratio. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the elevated P/S.
當你看到中國化工行業幾乎一半的公司市銷率(P/S)低於2.2倍時,道明光化股份有限公司深圳證券交易所(SZSE:002632)的本益比為3.1倍,看似正在釋放一些賣出信號。儘管如此,我們還需要更深入地挖掘,以確定P/S升高是否有合理的基礎。
See our latest analysis for Daoming Optics&ChemicalLtd
查看我們對道明光學化學有限公司的最新分析
![ps-multiple-vs-industry](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231024/0-14090c1b79a14f00c396d3f38829810f-0-47eb1781fe8ac984a7364d025671aa12.png/big)
What Does Daoming Optics&ChemicalLtd's Recent Performance Look Like?
道明光學化工股份有限公司最近的表現如何?
Revenue has risen at a steady rate over the last year for Daoming Optics&ChemicalLtd, which is generally not a bad outcome. It might be that many expect the reasonable revenue performance to beat most other companies over the coming period, which has increased investors' willingness to pay up for the stock. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
道明光學化工股份有限公司去年的收入穩步增長,總體來說這是一個不錯的結果。許多人可能預計,在未來一段時間內,合理的收入表現將超過大多數其他公司,這增加了投資者支付高價購買該股的意願。你真的希望如此,否則你會無緣無故地付出相當大的代價。
Is There Enough Revenue Growth Forecasted For Daoming Optics&ChemicalLtd?
道明光化股份有限公司的收入增長預期是否足夠?
Daoming Optics&ChemicalLtd's P/S ratio would be typical for a company that's expected to deliver solid growth, and importantly, perform better than the industry.
道明光化股份有限公司的本益比/S比率對於一家有望實現穩健增長的公司來說是典型的,而且重要的是,它的表現好於行業。
Retrospectively, the last year delivered a decent 5.1% gain to the company's revenues. Ultimately though, it couldn't turn around the poor performance of the prior period, with revenue shrinking 1.8% in total over the last three years. Therefore, it's fair to say the revenue growth recently has been undesirable for the company.
回顧過去一年,該公司的收入實現了5.1%的可觀增長。但歸根結底,它無法扭轉上一季度的糟糕表現,過去三年的總收入縮水了1.8%。因此,公平地說,最近的收入增長對公司來說是不可取的。
Weighing that medium-term revenue trajectory against the broader industry's one-year forecast for expansion of 30% shows it's an unpleasant look.
將這一中期收入軌跡與整個行業一年內增長30%的預測進行比較,可以看出這是一個令人不快的前景。
With this in mind, we find it worrying that Daoming Optics&ChemicalLtd's P/S exceeds that of its industry peers. 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. Only the boldest would assume these prices are sustainable as a continuation of recent revenue trends is likely to weigh heavily on the share price eventually.
考慮到這一點,我們感到擔憂的是,道明光學化學有限公司的P/S超過了行業同行。顯然,該公司的許多投資者比最近的情況所顯示的要樂觀得多,不願以任何價格拋售他們的股票。只有最大膽的人才會認為這些價格是可持續的,因為最近收入趨勢的延續最終可能會對股價造成沉重壓力。
The Bottom Line On Daoming Optics&ChemicalLtd's P/S
道明光化P/S的底線
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.
一般來說,我們傾向於將市銷率的使用限制在確定市場對公司整體健康狀況的看法上。
Our examination of Daoming Optics&ChemicalLtd 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. With a revenue decline on investors' minds, the likelihood of a souring sentiment is quite high which could send the P/S back in line with what we'd expect. Unless the the circumstances surrounding the recent medium-term improve, it wouldn't be wrong to expect a a difficult period ahead for the company's shareholders.
我們對道明光化股份有限公司的調查顯示,考慮到該行業將會增長,該公司中期營收萎縮並未導致本益比S像我們預期的那樣低。由於投資者擔心營收下滑,市場情緒惡化的可能性相當高,這可能會使本益比/S回到我們預期的水準。除非近期的中期形勢有所好轉,否則預計公司股東未來將迎來一段艱難時期,這並不錯。
And what about other risks? Every company has them, and we've spotted 2 warning signs for Daoming Optics&ChemicalLtd (of which 1 is significant!) you should know about.
還有其他風險呢?每家公司都有它們,我們已經發現道明光化股份有限公司的2個警告標誌(其中1個是重要的!)你應該知道。
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).
如果強大的盈利公司激起了你的想像力,那麼你就會想要看看這個。免費本益比較低(但已證明它們可以增加收益)的有趣公司名單。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.