CETC Digital TechnologyLtd (SHSE:600850) Shareholders Have Earned a 14% CAGR Over the Last Five Years
CETC Digital TechnologyLtd (SHSE:600850) Shareholders Have Earned a 14% CAGR Over the Last Five Years
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). Stock pickers are generally looking for stocks that will outperform the broader market. And while active stock picking involves risks (and requires diversification) it can also provide excess returns. For example, long term CETC Digital Technology Co.,Ltd. (SHSE:600850) shareholders have enjoyed a 81% share price rise over the last half decade, well in excess of the market return of around 33% (not including dividends). On the other hand, the more recent gains haven't been so impressive, with shareholders gaining just 18% , including dividends .
选股人士一般都在寻找表现好于大盘的股票。虽然主动选股会带来风险(并需要分散投资)，但它也可以提供超额回报。例如，长期中电数码科技有限公司。(上交所：600850)在过去五年中，股东的股价上涨了81%，远远超过了约33%的市场回报率(不包括股息)。另一方面，最近的涨幅没有那么令人印象深刻，包括股息在内，股东只获得了18%的收益。
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 CETC Digital TechnologyLtd
查看我们对CETC Digital Technology Ltd.的最新分析
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).
不可否认，市场有时是有效的，但价格并不总是反映潜在的商业表现。考察市场情绪如何随时间变化的一种方法是观察一家公司的股价和每股收益(EPS)之间的相互作用。
Over half a decade, CETC Digital TechnologyLtd managed to grow its earnings per share at 5.8% a year. This EPS growth is slower than the share price growth of 13% per year, over the same period. 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.
在过去的五年里，中电数码科技有限公司的每股收益以每年5.8%的速度增长。这一每股收益的增长慢于同期股价每年13%的增长。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。
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 CETC Digital TechnologyLtd has improved its bottom line lately, but is it going to grow revenue? You could check out this free report showing analyst revenue forecasts.
我们知道CETC Digital Technology Ltd.最近提高了利润，但它会增加收入吗？你可以看看这个免费显示分析师收入预测的报告。
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of CETC Digital TechnologyLtd, it has a TSR of 94% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
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。可以说，TSR更全面地描绘了一只股票产生的回报。以CETC Digital Technology Ltd为例，它在过去5年的TSR为94%。这超过了我们之前提到的它的股价回报。而且，猜测股息支付在很大程度上解释了这种差异是没有好处的！
A Different Perspective
不同的视角
It's nice to see that CETC Digital TechnologyLtd shareholders have received a total shareholder return of 18% over the last year. Of course, that includes the dividend. That gain is better than the annual TSR over five years, which is 14%. Therefore it seems like sentiment around the company has been positive lately. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. 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. Even so, be aware that CETC Digital TechnologyLtd is showing 2 warning signs in our investment analysis , you should know about...
很高兴看到CETC Digital TechnologyLtd.的股东在过去一年中获得了18%的总股东回报。当然，这包括股息。这一收益好于五年内14%的年度TSR。因此，最近围绕该公司的情绪似乎一直是积极的。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。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。即便如此，请注意，CETC Digital Technology Ltd正在展示我们的投资分析中的2个警告信号，你应该知道关于……
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
对于那些想要找到赢得投资这免费最近有内幕收购的不断增长的公司名单可能就是合适的选择。
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。
