<p><strong>熒德控股有限公司</strong> (HKG:8535) 的股東們在過去一個月中獲得了 54% 的股價上漲，耐心得到了回報。過去一個月的表現是過去一年 278% 大幅增長的延續。</p>
<p>儘管股價大幅反彈，但仍然沒有多少人認為熒德控股的市銷率（&#34;P/S&#34;）為 0.7 倍值得一提，因為香港建築行業的中位數市銷率大約為 0.3 倍。不過，簡單忽視市銷率並不明智，因為投資者可能會忽略一個獨特的機會或犯下一個代價高昂的錯誤。</p>
<p>我們發現 21 只美國股票預計明年將支付超過 6% 的股息收益率。查看完整列表，免費獲取。</p>
<p>查看我們對熒德控股的最新分析</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 市銷率與行業比較 2025 年 10 月 1 日</p>
<h3>熒德控股的表現如何</h3>
<p>舉個例子，熒德控股的收入在過去一年中有所下降，這並不理想。一個可能性是，市銷率適中是因為投資者認為公司在不久的將來可能仍能與更廣泛的行業保持一致。如果你喜歡這家公司，你至少會希望情況是這樣的，以便在公司尚未受到青睞時能夠買入一些股票。</p>
<p>我們沒有分析師的預測，但你可以通過查看我們對熒德控股的 <strong>免費</strong> 報告，瞭解近期趨勢如何為公司未來鋪路，報告中包含了公司的收益、收入和現金流。</p>
<h2>熒德控股是否有收入增長的預測？</h2>
<p>熒德控股的市銷率對於一家預計僅能實現適度增長的公司來説是典型的，重要的是，它的表現與行業保持一致。</p>
<p>回顧過去一年，公司收入下降了 12%，令人沮喪。過去三年的表現也不佳，公司總收入下降了 32%。因此，可以公平地説，最近的收入增長對公司來説是不可取的。</p>
<p>與公司相比，行業其他部分預計在未來一年將增長 17%，這確實讓公司的近期中期收入下降顯得更加突出。</p>
<p>考慮到這一點，我們發現熒德控股的市銷率超過了同行業的競爭對手，這讓人擔憂。似乎大多數投資者忽視了近期糟糕的增長率，並希望公司業務前景能夠好轉。如果市銷率降至與近期負增長率更為一致的水平，現有股東很可能會面臨未來的失望。</p>
<h2>最後的結論</h2>
<p>其股價大幅上漲，現在熒德控股的市銷率回到了行業中位數的範圍內。一般來説，我們傾向於將市銷率的使用限制在評估市場對公司整體健康狀況的看法上。</p>
<p>我們對熒德控股的觀察顯示，其中期收入的下降並沒有像我們預期的那樣對市銷率產生太大影響，因為行業預計將增長。儘管市銷率與行業相匹配，但我們對當前的市銷率感到不安，因為這種糟糕的收入表現不太可能長期支持更積極的市場情緒。除非近期的中期條件顯著改善，否則投資者將很難接受當前的股價為合理價值。</p>
<p>不要忘記可能還有其他風險。例如，我們已經識別出 <strong>熒德控股的 4 個警告信號</strong>（其中 2 個是重要的），你應該注意。</p>
<p><strong>如果你對過去盈利增長穩健的公司感興趣</strong>，你可能希望查看這份 <strong>免費</strong> 的其他強勁盈利增長和低市盈率公司的集合。</p>

熒德控股

<p>Vistar Holdings Limited (HKG:8535) 在過去一個月的股價上漲了 54%，過去一年則增加了 278%。儘管如此，該公司的市銷率（P/S）為 0.7 倍，高於行業中位數的 0.3 倍，這引發了人們的擔憂，因為該公司過去一年收入下降了 12%，三年內下降了 32%。投資者可能對公司的反彈過於樂觀，因為預計行業明年將增長 17%。建議保持謹慎，因為當前的市銷率可能無法反映公司的糟糕增長表現</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>熒德控股有限公司</strong> (HKG:8535) 的股東們在過去一個月中獲得了 54% 的股價上漲，耐心得到了回報。過去一個月的表現是過去一年 278% 大幅增長的延續。</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>儘管股價大幅反彈，但仍然沒有多少人認為熒德控股的市銷率（&#34;P/S&#34;）為 0.7 倍值得一提，因為香港建築行業的中位數市銷率大約為 0.3 倍。不過，簡單忽視市銷率並不明智，因為投資者可能會忽略一個獨特的機會或犯下一個代價高昂的錯誤。</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>我們發現 21 只美國股票預計明年將支付超過 6% 的股息收益率。查看完整列表，免費獲取。</p>
</div><p>Check out our latest analysis for Vistar Holdings</p>
<div class="lb-trans"><p>查看我們對熒德控股的最新分析</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 市銷率與行業比較 2025 年 10 月 1 日</p>
</div><h3>How Vistar Holdings Has Been Performing</h3>
<div class="lb-trans"><h3>熒德控股的表現如何</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>舉個例子，熒德控股的收入在過去一年中有所下降，這並不理想。一個可能性是，市銷率適中是因為投資者認為公司在不久的將來可能仍能與更廣泛的行業保持一致。如果你喜歡這家公司，你至少會希望情況是這樣的，以便在公司尚未受到青睞時能夠買入一些股票。</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>我們沒有分析師的預測，但你可以通過查看我們對熒德控股的 <strong>免費</strong> 報告，瞭解近期趨勢如何為公司未來鋪路，報告中包含了公司的收益、收入和現金流。</p>
</div><h2>Is There Some Revenue Growth Forecasted For Vistar Holdings?</h2>
<div class="lb-trans"><h2>熒德控股是否有收入增長的預測？</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>熒德控股的市銷率對於一家預計僅能實現適度增長的公司來説是典型的，重要的是，它的表現與行業保持一致。</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>回顧過去一年，公司收入下降了 12%，令人沮喪。過去三年的表現也不佳，公司總收入下降了 32%。因此，可以公平地説，最近的收入增長對公司來説是不可取的。</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>與公司相比，行業其他部分預計在未來一年將增長 17%，這確實讓公司的近期中期收入下降顯得更加突出。</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>考慮到這一點，我們發現熒德控股的市銷率超過了同行業的競爭對手，這讓人擔憂。似乎大多數投資者忽視了近期糟糕的增長率，並希望公司業務前景能夠好轉。如果市銷率降至與近期負增長率更為一致的水平，現有股東很可能會面臨未來的失望。</p>
</div><h2>The Final Word</h2>
<div class="lb-trans"><h2>最後的結論</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>其股價大幅上漲，現在熒德控股的市銷率回到了行業中位數的範圍內。一般來説，我們傾向於將市銷率的使用限制在評估市場對公司整體健康狀況的看法上。</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>我們對熒德控股的觀察顯示，其中期收入的下降並沒有像我們預期的那樣對市銷率產生太大影響，因為行業預計將增長。儘管市銷率與行業相匹配，但我們對當前的市銷率感到不安，因為這種糟糕的收入表現不太可能長期支持更積極的市場情緒。除非近期的中期條件顯著改善，否則投資者將很難接受當前的股價為合理價值。</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>不要忘記可能還有其他風險。例如，我們已經識別出 <strong>熒德控股的 4 個警告信號</strong>（其中 2 個是重要的），你應該注意。</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>如果你對過去盈利增長穩健的公司感興趣</strong>，你可能希望查看這份 <strong>免費</strong> 的其他強勁盈利增長和低市盈率公司的集合。</p>
</div>

熒德控股有限公司（HKG:8535）股價上漲 54% 似乎不太合理