Optimistic Investors Push Changchun Zhiyuan New Energy Equipment Co., Ltd (SZSE:300985) Shares Up 42% But Growth Is Lacking
Optimistic Investors Push Changchun Zhiyuan New Energy Equipment Co., Ltd (SZSE:300985) Shares Up 42% But Growth Is Lacking
Changchun Zhiyuan New Energy Equipment Co., Ltd (SZSE:300985) shares have continued their recent momentum with a 42% gain in the last month alone. The last 30 days bring the annual gain to a very sharp 70%.
長春智源新能源設備有限公司(SZSE:300985)僅在上個月,股價就延續了近期的勢頭,上漲了42%。在過去的30天裡,年度漲幅達到了非常大的70%。
Since its price has surged higher, given close to half the companies operating in China's Machinery industry have price-to-sales ratios (or "P/S") below 3.1x, you may consider Changchun Zhiyuan New Energy Equipment as a stock to potentially avoid with its 4.4x P/S ratio. However, the P/S might be high for a reason and it requires further investigation to determine if it's justified.
由於長春智源新能源設備的價格已大幅上漲,鑑於中國所在機械行業近一半的公司本益比(P/S)低於3.1倍,你可能會考慮將長春智源新能源設備作為一隻股票,其本益比為4.4倍,可能會被規避。然而,P/S可能是有原因的,需要進一步調查才能確定是否合理。
See our latest analysis for Changchun Zhiyuan New Energy Equipment
請看我們對長春智源新能源設備的最新分析
![ps-multiple-vs-industry](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231026/0-216b6c520c353a01c3d82956de0eb652-0-9b45c41532f87da5fd0100384e59288d.png/big)
How Changchun Zhiyuan New Energy Equipment Has Been Performing
長春智源新能源裝備表現如何
Changchun Zhiyuan New Energy Equipment certainly has been doing a great job lately as it's been growing its revenue at a really rapid pace. Perhaps the market is expecting future revenue performance to outperform the wider market, which has seemingly got people interested in the stock. However, if this isn't the case, investors might get caught out paying too much for the stock.
長春智源新能源設備最近確實做得很好,因為它的收入一直在以非常快的速度增長。或許市場預計未來的收入表現將好於大盤,這似乎讓人們對該股感興趣。然而,如果情況並非如此,投資者可能會被髮現為該股支付過高的價格。
How Is Changchun Zhiyuan New Energy Equipment's Revenue Growth Trending?
長春智源新能源設備營收增長趨勢如何?
The only time you'd be truly comfortable seeing a P/S as high as Changchun Zhiyuan New Energy Equipment's is when the company's growth is on track to outshine the industry.
只有當長春智源新能源設備的本益比如此之高時,你才會真正放心地看到該公司的本益比達到行業領先水準。
If we review the last year of revenue growth, we see the company's revenues grew exponentially. However, this wasn't enough as the latest three year period has seen the company endure a nasty 11% drop in revenue in aggregate. Therefore, it's fair to say the revenue growth recently has been undesirable for the company.
如果我們回顧過去一年的收入增長,我們會看到該公司的收入呈指數級增長。然而,這還不夠,因為在最近三年的時間裡,該公司的總收入大幅下降了11%。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 32% 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32%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 Changchun Zhiyuan New Energy Equipment'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. 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.
有鑒於此,我們感到擔憂的是,長春智源新能源裝備的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。如果本益比/S指數跌至與近期負增長更為一致的水準,現有股東很有可能正在為未來的失望做準備。
What Does Changchun Zhiyuan New Energy Equipment's P/S Mean For Investors?
長春智源新能源裝備的P/S對投資者意味著什麼?
The large bounce in Changchun Zhiyuan New Energy Equipment's shares has lifted the company's P/S handsomely. We'd say the price-to-sales ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.
長春智源新能源設備股價的大幅反彈,大幅提振了該公司的本益比。我們會說,市銷率的力量主要不是作為一種估值工具,而是衡量當前投資者的情緒和未來預期。
We've established that Changchun Zhiyuan New Energy Equipment currently trades on a much higher than expected P/S since its recent revenues have been in decline over the medium-term. 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. 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.
我們已經確定,長春智源新能源設備目前的本益比遠高於預期,因為該公司最近的收入在中期內一直在下降。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。如果近期的中期營收趨勢持續下去,將使股東的投資面臨重大風險,潛在投資者面臨支付過高溢價的危險。
And what about other risks? Every company has them, and we've spotted 2 warning signs for Changchun Zhiyuan New Energy Equipment 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2長春智源新能源設備警示標誌你應該知道。
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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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.