Comfort Systems USA, Inc.'s (NYSE:FIX) price-to-earnings (or "P/E") ratio of 30.8x might make it look like a strong sell right now compared to the market in the United States, where around half of the companies have P/E ratios below 16x and even P/E's below 9x are quite common. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the highly elevated P/E.
Recent times have been pleasing for Comfort Systems USA as its earnings have risen in spite of the market's earnings going into reverse. The P/E is probably high because investors think the company will continue to navigate the broader market headwinds better than most. If not, then existing shareholders might be a little nervous about the viability of the share price.
NYSE:FIX Price to Earnings Ratio vs Industry June 16th 2024
If you'd like to see what analysts are forecasting going forward, you should check out our free report on Comfort Systems USA.
Does Growth Match The High P/E?
Comfort Systems USA's P/E ratio would be typical for a company that's expected to deliver very strong growth, and importantly, perform much better than the market.
If we review the last year of earnings growth, the company posted a terrific increase of 68%. The latest three year period has also seen an excellent 133% overall rise in EPS, aided by its short-term performance. Accordingly, shareholders would have probably welcomed those medium-term rates of earnings growth.
Shifting to the future, estimates from the four analysts covering the company suggest earnings should grow by 13% per annum over the next three years. That's shaping up to be materially higher than the 9.9% per annum growth forecast for the broader market.
In light of this, it's understandable that Comfort Systems USA's P/E sits above the majority of other companies. Apparently shareholders aren't keen to offload something that is potentially eyeing a more prosperous future.
The Final Word
While the price-to-earnings ratio shouldn't be the defining factor in whether you buy a stock or not, it's quite a capable barometer of earnings expectations.
We've established that Comfort Systems USA maintains its high P/E on the strength of its forecast growth being higher than the wider market, as expected. Right now shareholders are comfortable with the P/E as they are quite confident future earnings aren't under threat. It's hard to see the share price falling strongly in the near future under these circumstances.
We don't want to rain on the parade too much, but we did also find 1 warning sign for Comfort Systems USA that you need to be mindful of.
Of course, you might also be able to find a better stock than Comfort Systems USA. So you may wish to see this free collection of other companies that have reasonable P/E ratios and have grown earnings strongly.
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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.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
Comfort Systems USA, Inc. (NYSE:FIX) 的市盈率爲 30.8 倍,與美國市場相比,這可能使其現在看起來像是一次強勁賣出,在美國,大約一半的公司的市盈率低於 16 倍,甚至低於 9 倍的市盈率也很常見。儘管如此,我們需要更深入地挖掘,以確定市盈率大幅上漲是否有合理的基礎。
最近令美國Comfort Systems感到高興,因爲儘管市場的收益出現逆轉,但其收益卻有所增加。市盈率可能很高,因爲投資者認爲該公司將繼續比大多數人更好地應對更廣泛的市場阻力。如果不是,那麼現有股東可能會對股價的可行性有些緊張。
紐約證券交易所:FIX 對比行業的市盈率 2024 年 6 月 16 日
如果你想了解分析師對未來的預測,你應該查看我們關於美國Comfort Systems的免費報告。
增長與高市盈率相匹配嗎?
Comfort Systems USA的市盈率對於一家預計將實現非常強勁的增長,而且重要的是,其表現要好於市場的公司來說是典型的。
如果我們回顧一下去年的收益增長,該公司公佈了68%的驚人增長。在短期表現的推動下,最近三年期間,每股收益總體增長了133%。因此,股東們可能會對這些中期收益增長率表示歡迎。
展望未來,報道該公司的四位分析師的估計表明,未來三年收益將每年增長13%。這將大大高於整個市場9.9%的年增長預期。
有鑑於此,美國Comfort Systems的市盈率高於其他大多數公司是可以理解的。顯然,股東們並不熱衷於轉移可能着眼於更繁榮未來的東西。
最後一句話
雖然市盈率不應該是決定你是否買入股票的決定性因素,但它是衡量收益預期的有力晴雨表。
我們已經確定,Comfort Systems USA維持了較高的市盈率,原因是其預測的增長將高於整個市場,正如預期的那樣。目前,股東對市盈率感到滿意,因爲他們非常有信心未來的收益不會受到威脅。在這種情況下,很難看到股價在不久的將來會強勁下跌。
我們不想在遊行隊伍中下太多雨,但我們也找到了一個你需要注意的 Comfort Systems USA 警告標誌。
當然,你也可以找到比美國舒適系統更好的股票。因此,你不妨免費查看其他市盈率合理且收益強勁增長的公司。
對這篇文章有反饋嗎?對內容感到擔憂嗎?請直接聯繫我們。或者,也可以發送電子郵件至編輯團隊 (at) simplywallst.com。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。
對這篇文章有反饋嗎?擔心內容嗎?直接聯繫我們。或者,發送電子郵件至 editorial-team@simplywallst.com