Everbright Securities (SHSE:601788) Shareholders Have Earned a 12% CAGR Over the Last Five Years
Everbright Securities (SHSE:601788) Shareholders Have Earned a 12% CAGR Over the Last Five Years
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. It hasn't been the best quarter for Everbright Securities Company Limited (SHSE:601788) shareholders, since the share price has fallen 13% in that time. Looking further back, the stock has generated good profits over five years. After all, the share price is up a market-beating 67% in that time.
这不是今年以来最好的一个季度光大证券股份有限公司(上海证券交易所：601788)股东，因为在此期间股价下跌了13%.再往前看，该股在过去五年里创造了良好的利润。毕竟，在这段时间里，该公司股价上涨了67%，涨幅超过了市场。
With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.
考虑到这一点，值得关注的是，该公司的潜在基本面是长期业绩的驱动力，还是存在一些差异。
Check out our latest analysis for Everbright Securities
查看我们对光大证券的最新分析
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
用巴菲特的话说，“船只将在世界各地航行，但平坦的地球协会将蓬勃发展。市场上的价格和价值之间将继续存在巨大的差异……”一种不完美但简单的方法来考虑市场对一家公司的看法是如何改变的，那就是将每股收益(EPS)的变化与股价走势进行比较。
During five years of share price growth, Everbright Securities achieved compound earnings per share (EPS) growth of 5.0% per year. This EPS growth is lower than the 11% average annual increase in the share price. This suggests that market participants hold the company in higher regard, these days. That's not necessarily surprising considering the five-year track record of earnings growth.
在股价增长的五年中，光大证券实现了每股收益(EPS)每年5.0%的复合增长。这一每股收益增幅低于该公司股价11%的年均增幅。这表明，这些天来，市场参与者对该公司的评价更高。考虑到五年来盈利增长的记录，这并不一定令人惊讶。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
您可以在下面看到EPS是如何随着时间的推移而变化的(通过单击图像来了解确切的值)。
It is of course excellent to see how Everbright Securities has grown profits over the years, but the future is more important for shareholders. If you are thinking of buying or selling Everbright Securities stock, you should check out this FREE detailed report on its balance sheet.
看到光大证券多年来的盈利增长当然很棒，但对股东来说，未来更重要。如果你正在考虑买卖光大证券的股票，你应该看看这个。免费关于其资产负债表的详细报告。
What About Dividends?
那股息呢？
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Everbright Securities' TSR for the last 5 years was 76%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.
重要的是要考虑任何给定股票的总股东回报以及股价回报。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。因此，对于支付丰厚股息的公司来说，TSR往往比股价回报高得多。碰巧的是，光大证券最近5年的总回报率为76%，超过了前面提到的股价回报率。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
We're pleased to report that Everbright Securities shareholders have received a total shareholder return of 22% over one year. Of course, that includes the dividend. That's better than the annualised return of 12% over half a decade, implying that the company is doing better recently. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Case in point: We've spotted 1 warning sign for Everbright Securities you should be aware of.
我们很高兴地报告，光大证券股东在一年内获得了22%的总股东回报。当然，这包括股息。这比过去五年12%的年化回报率要好，这意味着该公司最近的表现更好。在最好的情况下，这可能暗示着一些真正的商业势头，意味着现在可能是深入研究的好时机。虽然值得考虑市场状况对股价可能产生的不同影响，但还有其他更重要的因素。一个恰当的例子：我们发现了光大证券1个警示标志你应该意识到。
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.
如果你更愿意看看另一家公司--一家财务状况可能更好的公司--那么不要错过这一点免费已证明自己能够实现盈利增长的公司名单。
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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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。