<p><strong>荧德控股有限公司</strong> (HKG:8535) 的股东们在过去一个月中获得了 54% 的股价上涨，耐心得到了回报。过去一个月的表现是过去一年 278% 大幅增长的延续。</p>
<p>尽管股价大幅反弹，但仍然没有多少人认为荧德控股的市销率（&#34;P/S&#34;）为 0.7 倍值得一提，因为香港建筑行业的中位数市销率大约为 0.3 倍。不过，简单忽视市销率并不明智，因为投资者可能会忽略一个独特的机会或犯下一个代价高昂的错误。</p>
<p>我们发现 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
<p>查看我们对荧德控股的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/551032019-ps-multiple-vs-industry-1-dark-2/1759357277734?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/551032019-ps-multiple-vs-industry-1-dark-2/1759357277734"/></p>
<p>SEHK:8535 市销率与行业比较 2025 年 10 月 1 日</p>
<h3>荧德控股的表现如何</h3>
<p>举个例子，荧德控股的收入在过去一年中有所下降，这并不理想。一个可能性是，市销率适中是因为投资者认为公司在不久的将来可能仍能与更广泛的行业保持一致。如果你喜欢这家公司，你至少会希望情况是这样的，以便在公司尚未受到青睐时能够买入一些股票。</p>
<p>我们没有分析师的预测，但你可以通过查看我们对荧德控股的 <strong>免费</strong> 报告，了解近期趋势如何为公司未来铺路，报告中包含了公司的收益、收入和现金流。</p>
<h2>荧德控股是否有收入增长的预测？</h2>
<p>荧德控股的市销率对于一家预计仅能实现适度增长的公司来说是典型的，重要的是，它的表现与行业保持一致。</p>
<p>回顾过去一年，公司收入下降了 12%，令人沮丧。过去三年的表现也不佳，公司总收入下降了 32%。因此，可以公平地说，最近的收入增长对公司来说是不可取的。</p>
<p>与公司相比，行业其他部分预计在未来一年将增长 17%，这确实让公司的近期中期收入下降显得更加突出。</p>
<p>考虑到这一点，我们发现荧德控股的市销率超过了同行业的竞争对手，这让人担忧。似乎大多数投资者忽视了近期糟糕的增长率，并希望公司业务前景能够好转。如果市销率降至与近期负增长率更为一致的水平，现有股东很可能会面临未来的失望。</p>
<h2>最后的结论</h2>
<p>其股价大幅上涨，现在荧德控股的市销率回到了行业中位数的范围内。一般来说，我们倾向于将市销率的使用限制在评估市场对公司整体健康状况的看法上。</p>
<p>我们对荧德控股的观察显示，其中期收入的下降并没有像我们预期的那样对市销率产生太大影响，因为行业预计将增长。尽管市销率与行业相匹配，但我们对当前的市销率感到不安，因为这种糟糕的收入表现不太可能长期支持更积极的市场情绪。除非近期的中期条件显著改善，否则投资者将很难接受当前的股价为合理价值。</p>
<p>不要忘记可能还有其他风险。例如，我们已经识别出 <strong>荧德控股的 4 个警告信号</strong>（其中 2 个是重要的），你应该注意。</p>
<p><strong>如果你对过去盈利增长稳健的公司感兴趣</strong>，你可能希望查看这份 <strong>免费</strong> 的其他强劲盈利增长和低市盈率公司的集合。</p>

荧德控股

<p>Vistar Holdings Limited (HKG:8535) 在过去一个月的股价上涨了 54%，过去一年则增加了 278%。尽管如此，该公司的市销率（P/S）为 0.7 倍，高于行业中位数的 0.3 倍，这引发了人们的担忧，因为该公司过去一年收入下降了 12%，三年内下降了 32%。投资者可能对公司的反弹过于乐观，因为预计行业明年将增长 17%。建议保持谨慎，因为当前的市销率可能无法反映公司的糟糕增长表现</p>

<p><strong>Vistar Holdings Limited</strong> (HKG:8535) shareholders have had their patience rewarded with a 54% share price jump in the last month. The last month tops off a massive increase of 278% in the last year.</p>
<div class="lb-trans"><p><strong>荧德控股有限公司</strong> (HKG:8535) 的股东们在过去一个月中获得了 54% 的股价上涨，耐心得到了回报。过去一个月的表现是过去一年 278% 大幅增长的延续。</p>
</div><p>In spite of the firm bounce in price, there still wouldn't be many who think Vistar Holdings' price-to-sales (or &#34;P/S&#34;) ratio of 0.7x is worth a mention when the median P/S in Hong Kong's Construction industry is similar at about 0.3x. Although, it's not wise to simply ignore the P/S without explanation as investors may be disregarding a distinct opportunity or a costly mistake.</p>
<div class="lb-trans"><p>尽管股价大幅反弹，但仍然没有多少人认为荧德控股的市销率（&#34;P/S&#34;）为 0.7 倍值得一提，因为香港建筑行业的中位数市销率大约为 0.3 倍。不过，简单忽视市销率并不明智，因为投资者可能会忽略一个独特的机会或犯下一个代价高昂的错误。</p>
</div><p>We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</p>
<div class="lb-trans"><p>我们发现 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
</div><p>Check out our latest analysis for Vistar Holdings</p>
<div class="lb-trans"><p>查看我们对荧德控股的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/551032019-ps-multiple-vs-industry-1-dark-2/1759357277734" alt="" original-src="https://images.simplywall.st/asset/chart/551032019-ps-multiple-vs-industry-1-dark-2/1759357277734"/></p>
<p>SEHK:8535 Price to Sales Ratio vs Industry October 1st 2025</p>
<div class="lb-trans"><p>SEHK:8535 市销率与行业比较 2025 年 10 月 1 日</p>
</div><h3>How Vistar Holdings Has Been Performing</h3>
<div class="lb-trans"><h3>荧德控股的表现如何</h3>
</div><p>As an illustration, revenue has deteriorated at Vistar Holdings over the last year, which is not ideal at all. One possibility is that the P/S is moderate because investors think the company might still do enough to be in line with the broader industry in the near future. If you like the company, you'd at least be hoping this is the case so that you could potentially pick up some stock while it's not quite in favour.</p>
<div class="lb-trans"><p>举个例子，荧德控股的收入在过去一年中有所下降，这并不理想。一个可能性是，市销率适中是因为投资者认为公司在不久的将来可能仍能与更广泛的行业保持一致。如果你喜欢这家公司，你至少会希望情况是这样的，以便在公司尚未受到青睐时能够买入一些股票。</p>
</div><p>We don't have analyst forecasts, but you can see how recent trends are setting up the company for the future by checking out our <strong>free</strong> report on Vistar Holdings' earnings, revenue and cash flow.</p>
<div class="lb-trans"><p>我们没有分析师的预测，但你可以通过查看我们对荧德控股的 <strong>免费</strong> 报告，了解近期趋势如何为公司未来铺路，报告中包含了公司的收益、收入和现金流。</p>
</div><h2>Is There Some Revenue Growth Forecasted For Vistar Holdings?</h2>
<div class="lb-trans"><h2>荧德控股是否有收入增长的预测？</h2>
</div><p>Vistar Holdings' P/S ratio would be typical for a company that's only expected to deliver moderate growth, and importantly, perform in line with the industry.</p>
<div class="lb-trans"><p>荧德控股的市销率对于一家预计仅能实现适度增长的公司来说是典型的，重要的是，它的表现与行业保持一致。</p>
</div><p>Retrospectively, the last year delivered a frustrating 12% decrease to the company's top line. The last three years don't look nice either as the company has shrunk revenue by 32% in aggregate. Therefore, it's fair to say the revenue growth recently has been undesirable for the company.</p>
<div class="lb-trans"><p>回顾过去一年，公司收入下降了 12%，令人沮丧。过去三年的表现也不佳，公司总收入下降了 32%。因此，可以公平地说，最近的收入增长对公司来说是不可取的。</p>
</div><p>In contrast to the company, the rest of the industry is expected to grow by 17% over the next year, which really puts the company's recent medium-term revenue decline into perspective.</p>
<div class="lb-trans"><p>与公司相比，行业其他部分预计在未来一年将增长 17%，这确实让公司的近期中期收入下降显得更加突出。</p>
</div><p>With this in mind, we find it worrying that Vistar Holdings' P/S exceeds that of its industry peers. It seems most investors are ignoring the recent poor growth rate and are hoping for a turnaround in the company's business prospects. There's a good chance existing shareholders are setting themselves up for future disappointment if the P/S falls to levels more in line with the recent negative growth rates.</p>
<div class="lb-trans"><p>考虑到这一点，我们发现荧德控股的市销率超过了同行业的竞争对手，这让人担忧。似乎大多数投资者忽视了近期糟糕的增长率，并希望公司业务前景能够好转。如果市销率降至与近期负增长率更为一致的水平，现有股东很可能会面临未来的失望。</p>
</div><h2>The Final Word</h2>
<div class="lb-trans"><h2>最后的结论</h2>
</div><p>Its shares have lifted substantially and now Vistar Holdings' P/S is back within range of the industry median. Generally, our preference is to limit the use of the price-to-sales ratio to establishing what the market thinks about the overall health of a company.</p>
<div class="lb-trans"><p>其股价大幅上涨，现在荧德控股的市销率回到了行业中位数的范围内。一般来说，我们倾向于将市销率的使用限制在评估市场对公司整体健康状况的看法上。</p>
</div><p>Our look at Vistar Holdings revealed its shrinking revenues over the medium-term haven't impacted the P/S as much as we anticipated, given the industry is set to grow. Even though it matches the industry, we're uncomfortable with the current P/S ratio, as this dismal revenue performance is unlikely to support a more positive sentiment for long. Unless the recent medium-term conditions improve markedly, investors will have a hard time accepting the share price as fair value.</p>
<div class="lb-trans"><p>我们对荧德控股的观察显示，其中期收入的下降并没有像我们预期的那样对市销率产生太大影响，因为行业预计将增长。尽管市销率与行业相匹配，但我们对当前的市销率感到不安，因为这种糟糕的收入表现不太可能长期支持更积极的市场情绪。除非近期的中期条件显著改善，否则投资者将很难接受当前的股价为合理价值。</p>
</div><p>Don't forget that there may be other risks. For instance, we've identified <strong>4 warning signs for Vistar Holdings</strong> (2 are significant) you should be aware of.</p>
<div class="lb-trans"><p>不要忘记可能还有其他风险。例如，我们已经识别出 <strong>荧德控股的 4 个警告信号</strong>（其中 2 个是重要的），你应该注意。</p>
</div><p><strong>If companies with solid past earnings growth is up your alley</strong>, you may wish to see this <strong>free</strong> collection of other companies with strong earnings growth and low P/E ratios.</p>
<div class="lb-trans"><p><strong>如果你对过去盈利增长稳健的公司感兴趣</strong>，你可能希望查看这份 <strong>免费</strong> 的其他强劲盈利增长和低市盈率公司的集合。</p>
</div>

荧德控股有限公司（HKG:8535）股价上涨 54% 似乎不太合理