Goodbaby International Holdings Limited (HKG:1086) Stocks Shoot Up 30% But Its P/E Still Looks Reasonable
Goodbaby International Holdings Limited (HKG:1086) Stocks Shoot Up 30% But Its P/E Still Looks Reasonable
Goodbaby International Holdings Limited (HKG:1086) shareholders are no doubt pleased to see that the share price has bounced 30% in the last month, although it is still struggling to make up recently lost ground. But not all shareholders will be feeling jubilant, since the share price is still down a very disappointing 34% in the last twelve months.
好孩子國際控股有限公司 （HKG：1086）股東毫無疑問很高興看到股價在上月反彈了 30%，儘管最近仍在努力彌補最近失地。但是，並非所有股東都會感到歡騰，因為在過去的十二個月中，股價仍然下跌了非常令人失望的 34％。
After such a large jump in price, Goodbaby International Holdings' price-to-earnings (or "P/E") ratio of 14x might make it look like a strong sell right now compared to the market in Hong Kong, where around half of the companies have P/E ratios below 9x and even P/E's below 5x 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.
在價格如此大幅上漲之後，好孩子國際控股的價格對盈利（或稱「P/E」）的 14 倍或許使其看起來像一個強勁的賣出，與香港市場相比，大約一半的公司的市盈率低於 9 倍，甚至 P/E 低於 5 倍，甚至市盈率低於 5 倍。儘管如此，我們需要更深入地研究以確定是否有高度升高的 P/E 的合理基礎。
While the market has experienced earnings growth lately, Goodbaby International Holdings' earnings have gone into reverse gear, which is not great. It might be that many expect the dour earnings performance to recover substantially, which has kept the P/E from collapsing. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
儘管市場最近經歷了盈利增長，但好孩子國際控股的盈利已經進入逆轉速度，這並不是很好。可能是許多人預計努力的收益表現將大幅恢復，這使得 P/E 不會崩潰。你真的希望如此, 否則你付出了相當高昂的代價沒有特別的原因.
Check out our latest analysis for Goodbaby International Holdings
查看我們對好孩子國際控股有限公司的最新分析
What Are Growth Metrics Telling Us About The High P/E?
什麼是增長指標告訴我們關於高 P/E?
There's an inherent assumption that a company should far outperform the market for P/E ratios like Goodbaby International Holdings' to be considered reasonable.
有一個固有的假設認為，公司應該遠遠超過市場的市盈率，如好孩子國際控股 '被認為是合理的。
If we review the last year of earnings, dishearteningly the company's profits fell to the tune of 52%. This means it has also seen a slide in earnings over the longer-term as EPS is down 24% in total over the last three years. Accordingly, shareholders would have felt downbeat about the medium-term rates of earnings growth.
如果我們回顧盈利的最後一年，令人沮喪的是，該公司的利潤下降到 52％ 的調整。這意味著它也看到了長期的收益下滑，因為過去三年每股收益總下降了 24％。因此，股東會對中期盈利增長率感到沮喪。
Looking ahead now, EPS is anticipated to climb by 142% during the coming year according to the two analysts following the company. That's shaping up to be materially higher than the 18% growth forecast for the broader market.
展望未來，據該公司追隨該公司的兩位分析師的說法，未來一年的每股盈餘預計將攀升 142%。對於更廣泛的市場，這正在形成要大幅高於 18％ 的增長預測。
With this information, we can see why Goodbaby International Holdings is trading at such a high P/E compared to the market. Apparently shareholders aren't keen to offload something that is potentially eyeing a more prosperous future.
有了這些信息，我們可以看到好孩子國際控股與市場相比，為什麼好孩子國際控股的交易價格如此高。顯然，股東並不熱衷於卸載可能會盯著更繁榮未來的東西。
The Final Word
最後一句話
Goodbaby International Holdings' P/E is flying high just like its stock has during the last month. We'd say the price-to-earnings ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.
好孩子國際控股的 P/E 正像上個月股票一樣高漲。我們認為，價格與收益比的權力主要不是作為估值工具，而是衡量當前投資者情緒和未來預期。
As we suspected, our examination of Goodbaby International Holdings' analyst forecasts revealed that its superior earnings outlook is contributing to its high P/E. At this stage investors feel the potential for a deterioration in earnings isn't great enough to justify a lower P/E ratio. It's hard to see the share price falling strongly in the near future under these circumstances.
正如我們懷疑的那樣，我們對好孩子國際控股的分析師預測進行研究顯示，其卓越的盈利前景正在造成其高盈利前景，在這個階段，投資者認為盈利惡化的可能性不足以證明較低的盈利比率是合理的。在這種情況下，很難看到股價在不久的將來大幅下跌。
It is also worth noting that we have found 1 warning sign for Goodbaby International Holdings that you need to take into consideration.
還值得注意的是，我們找到了 1 個好孩子國際控股的警告標誌，您需要考慮這些信號。
If P/E ratios interest you, you may wish to see this free collection of other companies that have grown earnings strongly and trade on P/E's below 20x.
如果 P/E 比率利息你，你不妨看看這個 自由 收入強勁增長並在市盈率低於 20 倍交易的其他公司的集合。
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？關注內容？ 取得聯繫 直接與我們聯繫。 或者，通過電子郵件發送電子郵件給編輯團隊。
這篇文章由簡單牆聖是一般性質. 我們僅使用公正的方法，根據歷史數據和分析師預測提供評論，我們的文章並不打算作為財務建議。 它並不構成購買或出售任何股票的建議，也不會考慮您的目標或您的財務狀況。我們的目標是為您帶來由基本數據驅動的長期集中分析。請注意，我們的分析可能不會考慮最新的價格敏感公司公告或定性材料。簡易華街在提及的任何股票中都沒有倉位。
譯文內容由第三人軟體翻譯。