Arista Networks, Inc.'s (NYSE:ANET) Price Is Out Of Tune With Earnings
Arista Networks, Inc.'s (NYSE:ANET) Price Is Out Of Tune With Earnings
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 16x, you may consider Arista Networks, Inc. (NYSE:ANET) as a stock to avoid entirely with its 37.8x P/E ratio. However, the P/E might be quite high for a reason and it requires further investigation to determine if it's justified.
当将近一半的美国公司的市盈率(或 “市盈率”)低于16倍时,你可以将Arista Networks, Inc.(纽约证券交易所代码:ANET)视为股票,以其37.8倍的市盈率完全避免。但是,市盈率可能相当高是有原因的,需要进一步调查以确定其是否合理。
Recent times have been pleasing for Arista Networks as its earnings have risen in spite of the market's earnings going into reverse. 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. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
最近令Arista Networks感到高兴,因为尽管市场的收益出现逆转,但其收益却有所增加。看来许多人预计该公司将继续克服更广泛的市场逆境,这增加了投资者购买股票的意愿。你真的希望如此,否则你会无缘无故地付出相当大的代价。
See our latest analysis for Arista Networks
查看我们对 Arista Networks 的最新分析
![](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240107/0-57d65098bf37b13db13185f2d2622ac5-0-dd22fbe1806885e423e6e41d61ac37c9.png/big)
NYSE:ANET Price to Earnings Ratio vs Industry January 7th 2024
纽约证券交易所:ANET对比行业的市盈率 2024年1月7日
Want the full picture on analyst estimates for the company? Then our free report on Arista Networks will help you uncover what's on the horizon.
想全面了解分析师对公司的估计吗?然后,我们关于Arista Networks的免费报告将帮助您发现即将发生的事情。
What Are Growth Metrics Telling Us About The High P/E?
关于高市盈率,增长指标告诉我们什么?
There's an inherent assumption that a company should far outperform the market for P/E ratios like Arista Networks' to be considered reasonable.
人们固有的假设是,如果像Arista Networks这样的市盈率被认为是合理的,公司的表现应该远远超过市场。
Taking a look back first, we see that the company grew earnings per share by an impressive 63% last year. Pleasingly, EPS has also lifted 161% in aggregate from three years ago, thanks to the last 12 months of growth. So we can start by confirming that the company has done a great job of growing earnings over that time.
首先回顾一下,我们发现该公司去年的每股收益增长了令人印象深刻的63%。令人高兴的是,由于过去12个月的增长,每股收益也比三年前增长了161%。因此,我们可以首先确认该公司在这段时间内在增加收益方面做得很好。
Shifting to the future, estimates from the analysts covering the company suggest earnings should grow by 9.3% each year over the next three years. Meanwhile, the rest of the market is forecast to expand by 13% per annum, which is noticeably more attractive.
展望未来,报道该公司的分析师的估计表明,未来三年收益每年将增长9.3%。同时,预计其他市场每年将增长13%,这明显更具吸引力。
In light of this, it's alarming that Arista Networks' P/E sits above the majority of other companies. Apparently many investors in the company are way more bullish than analysts indicate and aren't willing to let go of their stock at any price. Only the boldest would assume these prices are sustainable as this level of earnings growth is likely to weigh heavily on the share price eventually.
有鉴于此,令人震惊的是,Arista Networks的市盈率高于其他大多数公司。显然,该公司的许多投资者比分析师所表示的要看涨得多,他们不愿意以任何价格抛售股票。只有最大胆的人才会假设这些价格是可持续的,因为这种收益增长水平最终可能会严重压制股价。
The Key Takeaway
关键要点
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.
通常,在做出投资决策时,我们会谨慎行事,不要过多地阅读市盈率,尽管这可以充分揭示其他市场参与者对公司的看法。
We've established that Arista Networks currently trades on a much higher than expected P/E since its forecast growth is lower than the wider market. When we see a weak earnings outlook with slower than market growth, we suspect the share price is at risk of declining, sending the high P/E lower. Unless these conditions improve markedly, it's very challenging to accept these prices as being reasonable.
我们已经确定,Arista Networks目前的市盈率远高于预期,因为其预测的增长低于整个市场。当我们看到疲软的盈利前景且低于市场增长速度时,我们怀疑股价有下跌的风险,导致高市盈率走低。除非这些条件显著改善,否则将这些价格视为合理是非常困难的。
We don't want to rain on the parade too much, but we did also find 1 warning sign for Arista Networks that you need to be mindful of.
我们不想在游行队伍中下太多雨,但我们也确实为Arista Networks找到了一个需要注意的警告标志。
If these risks are making you reconsider your opinion on Arista Networks, explore our interactive list of high quality stocks to get an idea of what else is out there.
如果这些风险让你重新考虑你对Arista Networks的看法,请浏览我们的高质量股票互动清单,了解还有什么。
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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提供基于历史数据和分析师预测的评论,我们的文章并非旨在提供财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。