Chemical Industries (Far East)'s (SGX:C05) Profits May Not Reveal Underlying Issues
Chemical Industries (Far East)'s (SGX:C05) Profits May Not Reveal Underlying Issues
Following the solid earnings report from Chemical Industries (Far East) Limited (SGX:C05), the market responded by bidding up the stock price. While the profit numbers were good, our analysis has found some concerning factors that shareholders should be aware of.
遠東集團(SGX:C05)公佈了實質盈利,市場回應是增加了股票價格。 儘管盈利數字表現良好,但我們的分析發現一些令股東擔憂的因素。
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How Do Unusual Items Influence Profit?
非常規項目如何影響利潤?
For anyone who wants to understand Chemical Industries (Far East)'s profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit gained from S$10.0m worth of unusual items. While we like to see profit increases, we tend to be a little more cautious when unusual items have made a big contribution. When we crunched the numbers on thousands of publicly listed companies, we found that a boost from unusual items in a given year is often not repeated the next year. And, after all, that's exactly what the accounting terminology implies. Chemical Industries (Far East) had a rather significant contribution from unusual items relative to its profit to March 2024. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.
對於任何希望了解遠東集團(Chemical Industries (Far East))盈利超出法定數字的人士,有一點很重要,那就是在過去的12個月中,法定盈利來自於價值1000萬元新元的飛凡項目。儘管我們希望看到盈利增長,但當非常規項目做出重大貢獻時,我們往往會持更謹慎態度。當我們對數以千計的上市公司進行數字分析時,我們發現,一年中的非常規項目提振在下一年通常不會重複出現。畢竟,這正是會計術語的含義。相對於截至2024年3月的利潤,遠東集團(Chemical Industries (Far East))非常規項目的貢獻相當大。因此,我們可以推斷出,非常規項目使其法定盈利顯著強於其他情況。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Chemical Industries (Far East).
注意:我們始終建議投資者檢查資產負債表的強度。點擊此處,即可進入我們對遠東集團(Chemical Industries (Far East))資產負債表分析。
Our Take On Chemical Industries (Far East)'s Profit Performance
我們對遠東集團(Chemical Industries (Far East))的盈利表現看法
As we discussed above, we think the significant positive unusual item makes Chemical Industries (Far East)'s earnings a poor guide to its underlying profitability. For this reason, we think that Chemical Industries (Far East)'s statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. The good news is that, its earnings per share increased by 45% in the last year. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. If you'd like to know more about Chemical Industries (Far East) as a business, it's important to be aware of any risks it's facing. Every company has risks, and we've spotted 5 warning signs for Chemical Industries (Far East) (of which 2 are significant!) you should know about.
正如我們之前所討論的,我們認爲重要的正常項目對於遠東集團化工(Far East)的收益來說是一個很差的指導,不能很好地反映其基本盈利能力。因此,我們認爲遠東集團化工的發佈盈利可能不是衡量其背後盈利潛力的好指標,可能會給投資者過於樂觀的印象。好消息是,其每股收益在去年增長了45%。當然,分析其盈利的研究遠遠沒有結束,一個也可以考慮毛利率、預測增長和投資回報率等其他因素。如果您想更多地了解遠東集團化工的業務,那麼了解其所面臨的任何風險是非常重要的。每個公司都存在風險,我們已經發現了5個警告信號,遠東集團化工(其中2個非常重要!)請務必知曉。
Today we've zoomed in on a single data point to better understand the nature of Chemical Industries (Far East)'s profit. But there are plenty of other ways to inform your opinion of a company. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.
今天,我們重點關注了一個數據點,以更好地了解遠東集團(Chemical Industries (Far East))的盈利情況。但是,還有許多其他方法可以了解公司的情況。例如,許多人認爲高股東權益回報率是企業經濟情況良好的指標,而其他人則願意“追蹤資金”,尋找內部人員正在購買的股票。因此,您可能希望查看此處免費提供的公司收益高的收藏集,或者此處高內部所有權的股票清單。
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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。