Investors Three-year Losses Continue as Toly BreadLtd (SHSE:603866) Dips a Further 3.5% This Week, Earnings Continue to Decline
Investors Three-year Losses Continue as Toly BreadLtd (SHSE:603866) Dips a Further 3.5% This Week, Earnings Continue to Decline
If you are building a properly diversified stock portfolio, the chances are some of your picks will perform badly. But the long term shareholders of Toly Bread Co.,Ltd. (SHSE:603866) have had an unfortunate run in the last three years. Unfortunately, they have held through a 72% decline in the share price in that time. And the ride hasn't got any smoother in recent times over the last year, with the price 41% lower in that time. The falls have accelerated recently, with the share price down 12% in the last three months. Of course, this share price action may well have been influenced by the 5.8% decline in the broader market, throughout the period.
如果你正在建立一个适当分散的股票投资组合,那么你的某些选择很可能会表现不佳。但是 Toly Bread Co. 的长期股东, Ltd.(上海证券交易所代码:603866)在过去三年中表现不佳。不幸的是,他们在这段时间内股价下跌了72%。而且在过去的一年里,这种行程并没有变得更加顺利,同期价格下降了41%。最近跌势加速,股价在过去三个月中下跌了12%。当然,这种股价走势很可能受到了整个时期大盘下跌5.8%的影响。
With the stock having lost 3.5% in the past week, it's worth taking a look at business performance and seeing if there's any red flags.
由于该股在过去一周下跌了3.5%,值得一看业务表现,看看是否有任何危险信号。
See our latest analysis for Toly BreadLtd
查看我们对 Toly BreadLtd 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. 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.
在他的文章中 格雷厄姆和多兹维尔的超级投资者 沃伦·巴菲特描述了股价如何并不总是能合理地反映企业的价值。考虑市场对公司的看法如何变化的一种不完美但简单的方法是将每股收益(EPS)的变化与股价变动进行比较。
During the three years that the share price fell, Toly BreadLtd's earnings per share (EPS) dropped by 12% each year. This reduction in EPS is slower than the 34% annual reduction in the share price. So it's likely that the EPS decline has disappointed the market, leaving investors hesitant to buy.
在股价下跌的三年中,Toly BreadLtd的每股收益(EPS)每年下降12%。每股收益的下降低于股价每年34%的降幅。因此,每股收益的下降很可能令市场失望,使投资者对买入犹豫不决。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
你可以在下面看到 EPS 是如何随着时间的推移而发生的变化(点击图片发现确切的数值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240106/0-4ba0f482130b4c462934263854d8ad42-0-660902f76a7fe09a51b6f0094eacc2a2.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. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here..
我们很高兴地向大家报告,首席执行官的薪水比资本相似公司的大多数首席执行官都要适中。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。在买入或卖出股票之前,我们始终建议仔细研究历史增长趋势,可在此处查阅。
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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Toly BreadLtd's TSR for the last 3 years was -69%, 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股东总回报率和股价回报率。尽管股价回报率仅反映股价的变化,但股东总回报率包括股息的价值(假设已进行再投资)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。碰巧的是,Toly BreadLtd在过去三年的股东总回报率为-69%,超过了前面提到的股价回报率。因此,该公司支付的股息提高了 总 股东回报。
A Different Perspective
不同的视角
We regret to report that Toly BreadLtd shareholders are down 40% for the year (even including dividends). Unfortunately, that's worse than the broader market decline of 10.0%. Having said that, it's inevitable that some stocks will be oversold in a falling market. The key is to keep your eyes on the fundamental developments. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 7% over the last half decade. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. 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. For example, we've discovered 1 warning sign for Toly BreadLtd that you should be aware of before investing here.
我们遗憾地报告,Toly BreadLtd的股东今年下跌了40%(甚至包括股息)。不幸的是,这比整个市场10.0%的跌幅还要严重。话虽如此,在下跌的市场中,一些股票不可避免地会被超卖。关键是要密切关注基本发展。不幸的是,去年的表现可能预示着尚未解决的挑战,因为它比过去五年中7%的年化亏损还要糟糕。总的来说,长期股价疲软可能是一个坏兆头,尽管逆势投资者可能希望研究该股以期出现转机。尽管市场状况可能对股价产生的不同影响值得考虑,但还有其他因素更为重要。例如,我们发现了Toly BreadLtd的1个警告信号,在这里投资之前,你应该注意这个信号。
But note: Toly BreadLtd may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
但请注意:Toly BreadLtd可能不是最值得购买的股票。因此,来看看这份过去盈利增长(以及进一步增长预测)的有趣公司的免费清单。
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率。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
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提供基于历史数据和分析师预测的评论,我们的文章并非旨在提供财务建议。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,我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。