As Jiangsu Expressway (HKG:177) Lifts 4.0% This Past Week, Investors May Now Be Noticing the Company's Five-year Earnings Growth
As Jiangsu Expressway (HKG:177) Lifts 4.0% This Past Week, Investors May Now Be Noticing the Company's Five-year Earnings Growth
Ideally, your overall portfolio should beat the market average. But the main game is to find enough winners to more than offset the losers So we wouldn't blame long term Jiangsu Expressway Company Limited (HKG:177) shareholders for doubting their decision to hold, with the stock down 32% over a half decade.
理想情况下,您的整体投资组合应超过市场平均水平。但是主要的游戏是找到足够的赢家来抵消输家。所以从长远来看,我们不会把责任推给别人 江苏高速公路股份有限公司 (HKG: 177) 股东对持股决定表示怀疑,该股在过去五年中下跌了32%。
While the last five years has been tough for Jiangsu Expressway shareholders, this past week has shown signs of promise. So let's look at the longer term fundamentals and see if they've been the driver of the negative returns.
尽管过去五年对江苏高速公路的股东来说是艰难的,但过去一周已经显示出希望的迹象。因此,让我们来看看长期基本面,看看它们是否是负回报的驱动力。
Check out our latest analysis for Jiangsu Expressway
查看我们对江苏高速公路的最新分析
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. 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.
虽然市场是一种强大的定价机制,但股价反映了投资者的情绪,而不仅仅是潜在的业务表现。考虑市场对公司的看法发生了怎样的变化的一种不完美但简单的方法是将每股收益(EPS)的变化与股价走势进行比较。
During the unfortunate half decade during which the share price slipped, Jiangsu Expressway actually saw its earnings per share (EPS) improve by 1.4% per year. So it doesn't seem like EPS is a great guide to understanding how the market is valuing the stock. Alternatively, growth expectations may have been unreasonable in the past.
在股价下滑的不幸五年中,江苏高速公路的每股收益(EPS)实际上每年增长1.4%。因此,每股收益似乎并不是了解市场如何估值股票的好指南。或者,过去的增长预期可能不合理。
By glancing at these numbers, we'd posit that the the market had expectations of much higher growth, five years ago. Having said that, we might get a better idea of what's going on with the stock by looking at other metrics.
通过浏览这些数字,我们可以假设五年前,市场对更高的增长抱有预期。话虽如此,通过查看其他指标,我们可能会更好地了解该股的情况。
The steady dividend doesn't really explain why the share price is down. While it's not completely obvious why the share price is down, a closer look at the company's history might help explain it.
稳定的股息并不能真正解释股价下跌的原因。尽管股价下跌的原因尚不完全明显,但仔细研究该公司的历史可能有助于解释这一点。
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
下图描述了收入和收入随时间推移而发生的变化(点击图片即可显示确切的数值)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231030/0-24700ce1a5748896baf2743e0748be99-0-865979db5b36fe28bcbaf387c424f8a2.png/big)
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. So it makes a lot of sense to check out what analysts think Jiangsu Expressway will earn in the future (free profit forecasts).
我们很高兴地向大家报告,首席执行官的薪酬比资本状况相似的公司的大多数首席执行官更适中。但是,尽管首席执行官的薪酬总是值得检查的,但真正重要的问题是公司未来能否增加收益。因此,看看分析师认为江苏高速公路未来的收入(自由利润预测)很有意义。
What About Dividends?
分红呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. We note that for Jiangsu Expressway the TSR over the last 5 years was -7.8%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
在考虑投资回报时,重要的是要考虑两者之间的区别 股东总回报 (TSR) 和 股价回报。股价回报仅反映股价的变化,而股东总回报率包括股息的价值(假设股息已被再投资)以及任何折扣融资或分拆的收益。可以说,股东总回报率可以更全面地描述股票产生的回报。我们注意到,江苏高速公路过去5年的股东总回报率为-7.8%,好于上述股价回报率。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的视角
We're pleased to report that Jiangsu Expressway shareholders have received a total shareholder return of 32% over one year. Of course, that includes the dividend. Notably the five-year annualised TSR loss of 1.5% per year compares very unfavourably with the recent share price performance. We generally put more weight on the long term performance over the short term, but the recent improvement could hint at a (positive) inflection point within the business. 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 Jiangsu Expressway is showing 1 warning sign in our investment analysis , you should know about...
我们很高兴地向大家报告,江苏高速公路股东在一年内获得了32%的股东总回报率。当然,这包括分红。值得注意的是,五年期年化股东总回报率每年亏损1.5%,与最近的股价表现相比非常不利。我们通常更看重短期内的长期业绩,但最近的改善可能暗示业务将出现(积极的)转折点。我发现从长远来看,将股价视为业务表现的代表非常有趣。但是,要真正获得见解,我们还需要考虑其他信息。即便如此,请注意江苏高速公路正在显示 我们的投资分析中有 1 个警告信号 ,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).
如果你想与管理层一起买入股票,那么你可能会喜欢这个 免费的 公司名单。(提示:内部人士一直在购买它们)。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Hong Kong exchanges.
请注意,本文引用的市场回报反映了目前在香港交易所交易的股票的市场加权平均回报。
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Simply Wall St 的这篇文章本质上是笼统的。 我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。简而言之,华尔街在上述任何股票中都没有头寸。