The Price Is Right For Glaukos Corporation (NYSE:GKOS)
The Price Is Right For Glaukos Corporation (NYSE:GKOS)
When close to half the companies in the Medical Equipment industry in the United States have price-to-sales ratios (or "P/S") below 3.1x, you may consider Glaukos Corporation (NYSE:GKOS) as a stock to avoid entirely with its 15.4x P/S ratio. Although, it's not wise to just take the P/S at face value as there may be an explanation why it's so lofty.
How Has Glaukos Performed Recently?
Recent revenue growth for Glaukos has been in line with the industry. Perhaps the market is expecting future revenue performance to improve, justifying the currently elevated P/S. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
Keen to find out how analysts think Glaukos' future stacks up against the industry? In that case, our free report is a great place to start.What Are Revenue Growth Metrics Telling Us About The High P/S?
Glaukos' P/S ratio would be typical for a company that's expected to deliver very strong growth, and importantly, perform much better than the industry.
Retrospectively, the last year delivered a decent 11% gain to the company's revenues. Pleasingly, revenue has also lifted 40% in aggregate from three years ago, partly thanks to the last 12 months of growth. Therefore, it's fair to say the revenue growth recently has been superb for the company.
Shifting to the future, estimates from the analysts covering the company suggest revenue should grow by 21% each year over the next three years. With the industry only predicted to deliver 10% each year, the company is positioned for a stronger revenue result.
With this information, we can see why Glaukos is trading at such a high P/S compared to the industry. Apparently shareholders aren't keen to offload something that is potentially eyeing a more prosperous future.
What Does Glaukos' P/S Mean For Investors?
Typically, we'd caution against reading too much into price-to-sales ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
Our look into Glaukos shows that its P/S ratio remains high on the merit of its strong future revenues. It appears that shareholders are confident in the company's future revenues, which is propping up the P/S. Unless these conditions change, they will continue to provide strong support to the share price.
It's always necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Glaukos, and understanding them should be part of your investment process.
If you're unsure about the strength of Glaukos' business, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.
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.
當美國醫療設備行業將近一半的公司的市銷率(或 “市銷率”)低於3.1倍時,您可以將格勞科斯公司(紐約證券交易所代碼:GKOS)視爲完全避開的股票,其市銷率爲15.4倍。但是,僅按面值計算市銷率是不明智的,因爲可以解釋其爲何如此之高。
格勞科斯最近的表現如何?
Glaukos最近的收入增長與行業持平。也許市場預期未來的收入表現會有所改善,這爲當前市銷售率的上升提供了理由。你真的希望如此,否則你將無緣無故地付出相當大的代價。
想了解分析師如何看待Glaukos的未來與該行業的對立嗎?在這種情況下,我們的免費報告是一個很好的起點。收入增長指標告訴我們高市銷率有哪些?
Glaukos的市銷率對於一家預計將實現非常強勁的增長,而且重要的是,其表現要好於行業的公司來說是典型的。
回顧過去,去年的公司收入實現了11%的可觀增長。令人高興的是,總收入也比三年前增長了40%,這在一定程度上要歸功於過去12個月的增長。因此,可以公平地說,該公司最近的收入增長非常好。
展望未來,報道該公司的分析師的估計表明,未來三年收入每年將增長21%。由於該行業預計每年僅實現10%的收入,該公司有望實現更強勁的收入業績。
有了這些信息,我們可以明白爲何Glaukos的市銷率與行業相比如此之高。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。
格勞科斯的市銷率對投資者意味着什麼?
通常,在做出投資決策時,我們會謹慎行事,不要過多地閱讀市售比率,儘管這可以充分揭示其他市場參與者對公司的看法。
我們對Glaukos的調查表明,由於其未來收入強勁,其市銷率仍然很高。看來股東對公司未來的收入充滿信心,這支撐了市銷率。除非這些條件發生變化,否則他們將繼續爲股價提供強有力的支撐。
始終有必要考慮永遠存在的投資風險幽靈。我們已經確定了Glaukos的3個警告信號,了解它們應該是您投資過程的一部分。
如果您不確定Glaukos的業務實力,爲什麼不瀏覽我們的互動式股票清單,這些股票具有穩健的業務基本面,其中列出了您可能錯過的其他一些公司。
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
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。
譯文內容由第三人軟體翻譯。
風險及免責聲明
- 分享到weixin
- 分享到qq
- 分享到facebook
- 分享到twitter
- 分享到微博
- 粘贴板
使用瀏覽器的分享功能,分享給你的好友吧