Despite the Downward Trend in Earnings at TVZone Media (SHSE:603721) the Stock Spikes 20%, Bringing Five-year Gains to 60%
Despite the Downward Trend in Earnings at TVZone Media (SHSE:603721) the Stock Spikes 20%, Bringing Five-year Gains to 60%
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, the TVZone Media Co., Ltd. (SHSE:603721) share price is up 56% in the last 5 years, clearly besting the market return of around 31% (ignoring dividends). On the other hand, the more recent gains haven't been so impressive, with shareholders gaining just 40% , including dividends .
选股者通常在寻找表现优于大盘的股票。尽管主动选股涉及风险(需要多元化),但它也可以提供超额回报。例如,TvZone媒体有限公司(SHSE:603721)的股价在过去5年中上涨了56%,显然超过了约31%的市场回报率(不包括股息)。另一方面,最近的涨幅并不那么令人印象深刻,包括股息在内的股东仅获得40%的收益。
The past week has proven to be lucrative for TVZone Media investors, so let's see if fundamentals drove the company's five-year performance.
事实证明,过去一周对TVZone Media投资者来说是有利可图的,所以让我们看看基本面是否推动了该公司的五年业绩。
View our latest analysis for TVZone Media
查看我们对 TVZone Media 的最新分析
We don't think that TVZone Media's modest trailing twelve month profit has the market's full attention at the moment. We think revenue is probably a better guide. As a general rule, we think this kind of company is more comparable to loss-making stocks, since the actual profit is so low. It would be hard to believe in a more profitable future without growing revenues.
我们认为,TVZone Media过去十二个月的微薄利润目前并未引起市场的充分关注。我们认为收入可能是更好的指南。一般而言,我们认为这种公司更能与亏损股票相提并论,因为实际利润太低了。如果收入不增长,很难相信未来会有更有利可图。
In the last 5 years TVZone Media saw its revenue shrink by 7.1% per year. Despite the lack of revenue growth, the stock has returned a respectable 9%, compound, over that time. To us that suggests that there probably isn't a lot of correlation between the past revenue performance and the share price, but a closer look at analyst forecasts and the bottom line may well explain a lot.
在过去的5年中,TvZone Media的收入每年下降7.1%。尽管收入缺乏增长,但在此期间,该股的复合回报率仍高达可观的9%。对我们来说,这表明过去的收入表现与股价之间可能没有太大的相关性,但是仔细观察分析师的预测和底线很可能会解释很多。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
公司的收入和收益(随着时间的推移)如下图所示(点击查看确切数字)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231031/0-582afc2f601213ac7a78415d6073fa40-0-9562da18dbfb72ca188c85bc6412c92a.png/big)
Balance sheet strength is crucial. It might be well worthwhile taking a look at our free report on how its financial position has changed over time.
资产负债表的强度至关重要。可能值得一看我们关于其财务状况如何随着时间的推移而变化的免费报告。
What About Dividends?
分红呢?
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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for TVZone Media the TSR over the last 5 years was 60%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!
重要的是要考虑任何给定股票的股东总回报率以及股价回报。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。可以公平地说,股东总回报率为支付股息的股票提供了更完整的画面。我们注意到,对于TvZone Media来说,过去5年的股东总回报率为60%,好于上述股价回报率。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 good to see that TVZone Media has rewarded shareholders with a total shareholder return of 40% in the last twelve months. That's including the dividend. That gain is better than the annual TSR over five years, which is 10%. Therefore it seems like sentiment around the company has been positive lately. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. 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. Consider for instance, the ever-present spectre of investment risk. We've identified 5 warning signs with TVZone Media (at least 3 which are concerning) , and understanding them should be part of your investment process.
很高兴看到TVZone Media在过去十二个月中向股东提供了40%的股东总回报率。这包括股息。该收益优于五年内的年度股东总回报率,即10%。因此,最近公司周围的情绪似乎一直乐观。鉴于股价势头仍然强劲,可能值得仔细研究该股,以免错过机会。尽管值得考虑市场状况可能对股价产生的不同影响,但还有其他因素更为重要。例如,以永远存在的投资风险幽灵为例。我们已经在TvZone Media发现了5个警告信号(至少有3个令人担忧),了解它们应该成为您投资过程的一部分。
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购买股票,那么你可能会喜欢这份免费的公司名单。(提示:业内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 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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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,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本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型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。