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Chengdu Gas Group's (SHSE:603053) Profits Appear To Have Quality Issues

Chengdu Gas Group's (SHSE:603053) Profits Appear To Have Quality Issues

成都燃料幣集團(SHSE:603053)的利潤似乎存在質量問題
Simply Wall St ·  11/05 17:57

The recent earnings posted by Chengdu Gas Group Corporation Ltd. (SHSE:603053) were solid, but the stock didn't move as much as we expected. We think this is due to investors looking beyond the statutory profits and being concerned with what they see.

成都燃氣集團有限公司(SHSE:603053)最近發佈的收益表現穩健,但股票的波動沒有達到我們的預期。我們認爲這是投資者超越法定利潤並關注的原因。

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SHSE:603053 Earnings and Revenue History November 5th 2024
SHSE:603053盈利和營收歷史2024年11月5日

How Do Unusual Items Influence Profit?

非常規項目如何影響利潤?

Importantly, our data indicates that Chengdu Gas Group's profit received a boost of CN¥46m in unusual items, over the last year. While it's always nice to have higher profit, a large contribution from unusual items sometimes dampens our enthusiasm. 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. Assuming those unusual items don't show up again in the current year, we'd thus expect profit to be weaker next year (in the absence of business growth, that is).

重要的是,我們的數據顯示,成都燃氣集團的利潤在過去一年中非常規項目的幫助下增加了4600萬元人民幣。雖然利潤增加總是令人愉快的,但非常規項目的大幅貢獻有時會減弱我們的熱情。當我們對數千家上市公司的數據進行分析時,我們發現一個年度利潤中非常規項目的增加通常不會在下一年重複。畢竟,這正是會計術語所暗示的。假設這些非常規項目在當年不再出現,那麼我們預計明年的利潤將會較弱(在沒有業務增長的情況下)。

Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Chengdu Gas Group.

注意:我們始終建議投資者查看資產負債表實力。單擊此處查看我們對成都燃氣集團資產負債表分析。

Our Take On Chengdu Gas Group's Profit Performance

我們對成都燃氣集團的利潤表現看法

Arguably, Chengdu Gas Group's statutory earnings have been distorted by unusual items boosting profit. Therefore, it seems possible to us that Chengdu Gas Group's true underlying earnings power is actually less than its statutory profit. The good news is that its earnings per share increased slightly 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. So while earnings quality is important, it's equally important to consider the risks facing Chengdu Gas Group at this point in time. In terms of investment risks, we've identified 1 warning sign with Chengdu Gas Group, and understanding it should be part of your investment process.

可以說,成都燃氣集團的法定收益已經被飛凡項目所扭曲,提高了利潤。因此,我們認爲成都燃氣集團真正的基礎收益能力實際上可能低於其法定利潤。好消息是,其每股收益在過去一年略有增加。當然,在分析其收益方面,我們僅僅是觸及了表面;人們還可以考慮利潤率、預測增長和投資回報率等其他因素。因此,收益質量很重要,同樣重要的是考慮目前成都燃氣集團面臨的風險。在投資風險方面,我們已經確定了一個與成都燃氣集團相關的警示信號,並了解這一點應該成爲您投資過程的一部分。

Today we've zoomed in on a single data point to better understand the nature of Chengdu Gas Group's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. 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,我們把焦點放在一個單一的數據點上,以更好地了解成都燃氣集團利潤的性質。但如果你有能力把注意力集中在細枝末節上,總會有更多發現。有些人認爲高股本回報率是質量好的企業的一個好跡象。因此,您可能希望查看這些擁有高股本回報率的公司的免費收集,或者這些擁有高內部持股的股票清單。

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.

對這篇文章有反饋嗎?對內容感到擔憂嗎?請直接與我們聯繫。或者,發送電子郵件至editorial-team @ simplywallst.com。
Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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