<p><strong>米蘭站控股有限公司</strong>（HKG:1150）的股價在過去 30 天內大幅下跌了 26%，回吐了近期的許多漲幅。好消息是，在過去一年中，該股表現如同璀璨的鑽石，漲幅達 120%。</p>
<p>儘管其股價大幅下跌，但在香港的專業零售行業中，幾乎一半的公司市銷率（或稱&#34;P/S&#34;）低於 0.5 倍，您仍然可以考慮米蘭站控股作為一隻不值得研究的股票，其市銷率為 2.7 倍。儘管如此，我們需要更深入地挖掘，以確定這種高市銷率是否有合理的基礎。</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>查看我們對米蘭站控股的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/131461060-ps-multiple-vs-industry-1-dark-2/1759709238682?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/131461060-ps-multiple-vs-industry-1-dark-2/1759709238682"/></p>
<p>SEHK:1150 市銷率與行業比較 2025 年 10 月 6 日</p>
<h3>米蘭站控股的表現如何</h3>
<p>例如，米蘭站控股近期收入的下降值得深思。許多人可能仍然期望該公司在未來一段時間內超越大多數其他公司，這使得市銷率沒有崩潰。如果不是這樣，那麼現有股東可能會對股價的可持續性感到相當緊張。</p>
<p>想要了解公司在收益、收入和現金流方面的全面情況嗎？那麼我們對米蘭站控股的 <strong>免費</strong> 報告將幫助您揭示其歷史表現。</p>
<h2>米蘭站控股的收入增長趨勢如何？</h2>
<p>您唯一會真正感到舒適的情況是，當米蘭站控股的市銷率如此高時，公司的增長軌跡明顯超越行業。</p>
<p>回顧過去一年，公司收入下降了 27%，令人沮喪。過去三年也不太好，公司總收入縮水了 61%。因此，股東們對中期收入增長率感到失望。</p>
<p>與公司相比，行業其他部分預計明年將增長 41%，這確實讓公司的近期中期收入下降顯得更加突出。</p>
<p>根據這些信息，我們發現米蘭站控股的市銷率高於行業水平，這令人擔憂。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。只有最勇敢的人才會認為這些價格是可持續的，因為近期收入趨勢的持續可能會對股價產生重大壓力。</p>
<h2>我們可以從米蘭站控股的市銷率中學到什麼？</h2>
<p>股價的大幅下跌對米蘭站控股的高市銷率幾乎沒有影響。僅僅使用市銷率來判斷您是否應該賣出股票並不明智，但它可以作為公司未來前景的實用指南。</p>
<p>我們已經確定米蘭站控股目前的市銷率遠高於預期，因為其近期收入在中期內一直在下降。當我們看到收入下滑並且表現不及行業預期時，我們認為股價下跌的可能性非常真實，這將使市銷率迴歸合理範圍。除非近期中期的情況有所改善，否則預計公司股東將面臨困難時期並不為過。</p>
<p>在您採取下一步之前，您應該瞭解我們發現的 <strong>米蘭站控股的 3 個警示信號</strong>（其中 2 個不應被忽視！）。</p>
<p>如果您對米蘭站控股的業務實力 <strong>不確定</strong>，為什麼不探索我們互動的股票列表，尋找一些您可能錯過的基本面良好的其他公司呢？</p>

米蘭站

<p>米蘭站控股有限公司 (HKG:1150) 的股價在過去一個月下跌了 26%，儘管過去一年上漲了 120%。該公司的市銷率 (P/S) 為 2.7 倍，遠高於行業平均水平 0.5 倍，這引發了人們的擔憂，因為過去一年收入下降了 27%，三年內下降了 61%。投資者似乎對潛在的反彈持樂觀態度，但與行業預期的 41% 增長相比，該公司的增長乏力給股東帶來了風險</p>

<p>The <strong>Milan Station Holdings Limited</strong> (HKG:1150) share price has softened a substantial 26% over the previous 30 days, handing back much of the gains the stock has made lately. The good news is that in the last year, the stock has shone bright like a diamond, gaining 120%.</p>
<div class="lb-trans"><p><strong>米蘭站控股有限公司</strong>（HKG:1150）的股價在過去 30 天內大幅下跌了 26%，回吐了近期的許多漲幅。好消息是，在過去一年中，該股表現如同璀璨的鑽石，漲幅達 120%。</p>
</div><p>Although its price has dipped substantially, when almost half of the companies in Hong Kong's Specialty Retail industry have price-to-sales ratios (or &#34;P/S&#34;) below 0.5x, you may still consider Milan Station Holdings as a stock not worth researching with its 2.7x P/S ratio. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the highly elevated P/S.</p>
<div class="lb-trans"><p>儘管其股價大幅下跌，但在香港的專業零售行業中，幾乎一半的公司市銷率（或稱&#34;P/S&#34;）低於 0.5 倍，您仍然可以考慮米蘭站控股作為一隻不值得研究的股票，其市銷率為 2.7 倍。儘管如此，我們需要更深入地挖掘，以確定這種高市銷率是否有合理的基礎。</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>See our latest analysis for Milan Station Holdings</p>
<div class="lb-trans"><p>查看我們對米蘭站控股的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/131461060-ps-multiple-vs-industry-1-dark-2/1759709238682" alt="" original-src="https://images.simplywall.st/asset/chart/131461060-ps-multiple-vs-industry-1-dark-2/1759709238682"/></p>
<p>SEHK:1150 Price to Sales Ratio vs Industry October 6th 2025</p>
<div class="lb-trans"><p>SEHK:1150 市銷率與行業比較 2025 年 10 月 6 日</p>
</div><h3>How Milan Station Holdings Has Been Performing</h3>
<div class="lb-trans"><h3>米蘭站控股的表現如何</h3>
</div><p>For instance, Milan Station Holdings' receding revenue in recent times would have to be some food for thought. It might be that many expect the company to still outplay most other companies over the coming period, which has kept the P/S from collapsing. If not, then existing shareholders may be quite nervous about the viability of the share price.</p>
<div class="lb-trans"><p>例如，米蘭站控股近期收入的下降值得深思。許多人可能仍然期望該公司在未來一段時間內超越大多數其他公司，這使得市銷率沒有崩潰。如果不是這樣，那麼現有股東可能會對股價的可持續性感到相當緊張。</p>
</div><p>Want the full picture on earnings, revenue and cash flow for the company? Then our <strong>free</strong> report on Milan Station Holdings will help you shine a light on its historical performance.</p>
<div class="lb-trans"><p>想要了解公司在收益、收入和現金流方面的全面情況嗎？那麼我們對米蘭站控股的 <strong>免費</strong> 報告將幫助您揭示其歷史表現。</p>
</div><h2>How Is Milan Station Holdings' Revenue Growth Trending?</h2>
<div class="lb-trans"><h2>米蘭站控股的收入增長趨勢如何？</h2>
</div><p>The only time you'd be truly comfortable seeing a P/S as steep as Milan Station Holdings' is when the company's growth is on track to outshine the industry decidedly.</p>
<div class="lb-trans"><p>您唯一會真正感到舒適的情況是，當米蘭站控股的市銷率如此高時，公司的增長軌跡明顯超越行業。</p>
</div><p>Retrospectively, the last year delivered a frustrating 27% decrease to the company's top line. The last three years don't look nice either as the company has shrunk revenue by 61% in aggregate. Accordingly, shareholders would have felt downbeat about the medium-term rates of revenue growth.</p>
<div class="lb-trans"><p>回顧過去一年，公司收入下降了 27%，令人沮喪。過去三年也不太好，公司總收入縮水了 61%。因此，股東們對中期收入增長率感到失望。</p>
</div><p>In contrast to the company, the rest of the industry is expected to grow by 41% 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，行業其他部分預計明年將增長 41%，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 information, we find it concerning that Milan Station Holdings is trading at a P/S higher than the industry. It seems most investors are ignoring the recent poor growth rate and are hoping for a turnaround in the company's business prospects. Only the boldest would assume these prices are sustainable as a continuation of recent revenue trends is likely to weigh heavily on the share price eventually.</p>
<div class="lb-trans"><p>根據這些信息，我們發現米蘭站控股的市銷率高於行業水平，這令人擔憂。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。只有最勇敢的人才會認為這些價格是可持續的，因為近期收入趨勢的持續可能會對股價產生重大壓力。</p>
</div><h2>What We Can Learn From Milan Station Holdings' P/S?</h2>
<div class="lb-trans"><h2>我們可以從米蘭站控股的市銷率中學到什麼？</h2>
</div><p>A significant share price dive has done very little to deflate Milan Station Holdings' very lofty P/S. Using the price-to-sales ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.</p>
<div class="lb-trans"><p>股價的大幅下跌對米蘭站控股的高市銷率幾乎沒有影響。僅僅使用市銷率來判斷您是否應該賣出股票並不明智，但它可以作為公司未來前景的實用指南。</p>
</div><p>We've established that Milan Station Holdings currently trades on a much higher than expected P/S since its recent revenues have been in decline over the medium-term. When we see revenue heading backwards and underperforming the industry forecasts, we feel the possibility of the share price declining is very real, bringing the P/S back into the realm of reasonability. Unless the the circumstances surrounding the recent medium-term improve, it wouldn't be wrong to expect a a difficult period ahead for the company's shareholders.</p>
<div class="lb-trans"><p>我們已經確定米蘭站控股目前的市銷率遠高於預期，因為其近期收入在中期內一直在下降。當我們看到收入下滑並且表現不及行業預期時，我們認為股價下跌的可能性非常真實，這將使市銷率迴歸合理範圍。除非近期中期的情況有所改善，否則預計公司股東將面臨困難時期並不為過。</p>
</div><p>Before you take the next step, you should know about the <strong>3 warning signs for Milan Station Holdings</strong> (2 shouldn't be ignored!) that we have uncovered.</p>
<div class="lb-trans"><p>在您採取下一步之前，您應該瞭解我們發現的 <strong>米蘭站控股的 3 個警示信號</strong>（其中 2 個不應被忽視！）。</p>
</div><p>If you're <strong>unsure about the strength of Milan Station Holdings' business</strong>, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.</p>
<div class="lb-trans"><p>如果您對米蘭站控股的業務實力 <strong>不確定</strong>，為什麼不探索我們互動的股票列表，尋找一些您可能錯過的基本面良好的其他公司呢？</p>
</div>

米蘭站控股有限公司（HKG:1150）因股價下跌 26% 而面臨投資者歡迎度下降的威脅