Investors in Shanghai Hanbell Precise Machinery (SZSE:002158) Have Seen Stellar Returns of 285% Over the Past Five Years
Investors in Shanghai Hanbell Precise Machinery (SZSE:002158) Have Seen Stellar Returns of 285% Over the Past Five Years
When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose your money. But on the bright side, if you buy shares in a high quality company at the right price, you can gain well over 100%. For example, the Shanghai Hanbell Precise Machinery Co., Ltd. (SZSE:002158) share price has soared 252% in the last half decade. Most would be very happy with that. The last week saw the share price soften some 3.0%.
当你购买一家公司的股票时，值得记住的是它可能会倒闭，你可能会损失你的钱。但好的一面是，如果你以合适的价格购买一家高质量公司的股票，你可以获得远远超过100%的收益。例如，上海汉贝尔精密机械有限公司。(SZSE：002158)股价在过去五年里飙升了252%。大多数人会对此感到非常高兴。上周，该公司股价下跌了约3.0%。
So let's assess the underlying fundamentals over the last 5 years and see if they've moved in lock-step with shareholder returns.
因此，让我们评估一下过去5年的基本基本面，看看它们是否与股东回报同步。
See our latest analysis for Shanghai Hanbell Precise Machinery
请看我们对上海汉贝尔精密机械的最新分析
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
在他的文章中格雷厄姆和多德斯维尔的超级投资者沃伦·巴菲特描述了股价并不总是理性地反映一家企业的价值。通过比较每股收益(EPS)和股价随时间的变化，我们可以感受到投资者对一家公司的态度随着时间的推移发生了怎样的变化。
Over half a decade, Shanghai Hanbell Precise Machinery managed to grow its earnings per share at 27% a year. So the EPS growth rate is rather close to the annualized share price gain of 29% per year. This indicates that investor sentiment towards the company has not changed a great deal. Rather, the share price has approximately tracked EPS growth.
在过去的五年里，上海汉贝尔精密机械公司的每股收益以每年27%的速度增长。因此，每股收益的增长率相当接近年化股价29%的涨幅。这表明投资者对该公司的情绪没有太大变化。相反，该公司股价已大致追随每股收益的增长。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下图显示了EPS是如何随着时间的推移进行跟踪的(如果您点击该图像，您可以看到更多详细信息)。
We know that Shanghai Hanbell Precise Machinery has improved its bottom line over the last three years, but what does the future have in store? This free interactive report on Shanghai Hanbell Precise Machinery's balance sheet strength is a great place to start, if you want to investigate the stock further.
我们知道，上海汉贝尔精密机械在过去三年里提高了利润，但未来会是什么样子？这免费如果你想进一步调查该股，关于上海汉贝尔精密机械资产负债表实力的互动报告是一个很好的起点。
What About Dividends?
那股息呢？
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Shanghai Hanbell Precise Machinery, it has a TSR of 285% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.
除了衡量股价回报外，投资者还应考虑总股东回报(TSR)。虽然股价回报只反映股价的变动，但TSR包括股息的价值(假设股息再投资)，以及任何折价集资或分拆所带来的利益。公平地说，TSR为支付股息的股票提供了更完整的图景。以上海汉贝尔精密机械为例，它在过去5年的总资产收益率为285%。这超过了我们之前提到的它的股价回报。该公司支付的股息因此提振了总计股东回报。
A Different Perspective
不同的视角
It's nice to see that Shanghai Hanbell Precise Machinery shareholders have received a total shareholder return of 13% over the last year. Of course, that includes the dividend. However, the TSR over five years, coming in at 31% per year, is even more impressive. Potential buyers might understandably feel they've missed the opportunity, but it's always possible business is still firing on all cylinders. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for Shanghai Hanbell Precise Machinery you should know about.
很高兴看到上海汉贝尔精密机械的股东在过去一年中获得了13%的总股东回报。当然，这包括股息。然而，五年来的TSR，以每年31%的速度增长，更令人印象深刻。潜在买家可能会觉得他们错过了预期的机会，这是可以理解的，但业务仍有可能仍然全速运转。我发现，把股价作为衡量企业业绩的长期指标是非常有趣的。但为了真正获得洞察力，我们还需要考虑其他信息。例如，考虑一下风险。每家公司都有它们，我们已经发现上海汉贝尔精密机械的1个警示标志你应该知道。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).
如果你喜欢和管理层一起买股票，那么你可能会喜欢这本书免费公司名单。(提示：内部人士一直在买入这些股票)。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
请注意，本文引用的市场回报反映了目前在中国交易所交易的股票的市场加权平均回报。
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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.
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本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。