The Total Return for Zhejiang Changsheng Sliding Bearings (SZSE:300718) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
The Total Return for Zhejiang Changsheng Sliding Bearings (SZSE:300718) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the market average. Buying under-rated businesses is one path to excess returns. To wit, the Zhejiang Changsheng Sliding Bearings share price has climbed 65% in five years, easily topping the market return of 26% (ignoring dividends).
一般而言,积极选股的目的是寻找回报优于市场平均水平的公司。收购被低估的企业是获得超额回报的一种途径。换句话说,浙江长盛滑动轴承的股价在五年内上涨了65%,轻松超过了26%的市场回报率(不计股息)。
While this past week has detracted from the company's five-year return, let's look at the recent trends of the underlying business and see if the gains have been in alignment.
尽管过去一周减损了该公司的五年回报率,但让我们来看看基础业务的最新趋势,看看涨幅是否一致。
Check out our latest analysis for Zhejiang Changsheng Sliding Bearings
查看我们对浙江长盛滑动轴承的最新分析
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
不可否认,市场有时是有效的,但价格并不总是能反映潜在的业务表现。通过比较每股收益(EPS)和一段时间内的股价变化,我们可以了解投资者对公司的态度是如何随着时间的推移而变化的。
During five years of share price growth, Zhejiang Changsheng Sliding Bearings achieved compound earnings per share (EPS) growth of 2.2% per year. This EPS growth is slower than the share price growth of 11% per year, over the same period. This suggests that market participants hold the company in higher regard, these days. And that's hardly shocking given the track record of growth.
在五年的股价增长中,浙江长盛滑动轴承实现了每年2.2%的复合每股收益(EPS)增长。每股收益的增长低于同期每年11%的股价增长。这表明,如今,市场参与者对公司的重视程度更高。考虑到增长的记录,这并不令人震惊。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下图中看到 EPS 随时间推移的变化(点击图表查看确切值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240118/0-f94a76bc42ff96982894e742b289a0ce-0-ce912839170940a35c2864f47f6fbc7e.png/big)
Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.
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?
分红呢?
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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for Zhejiang Changsheng Sliding Bearings the TSR over the last 5 years was 85%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
除了衡量股价回报率外,投资者还应考虑股东总回报率(TSR)。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。我们注意到,浙江长盛滑动轴承在过去5年的股东总回报率为85%,好于上述股价回报率。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
While the broader market lost about 15% in the twelve months, Zhejiang Changsheng Sliding Bearings shareholders did even worse, losing 23% (even including dividends). 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. Longer term investors wouldn't be so upset, since they would have made 13%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. 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 2 warning signs for Zhejiang Changsheng Sliding Bearings that you should be aware of before investing here.
尽管整个市场在十二个月中下跌了约15%,但浙江长盛滑动轴承股东的表现甚至更糟,损失了23%(甚至包括股息)。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。长期投资者不会那么沮丧,因为他们将在五年内每年赚取13%的收入。如果基本面数据继续显示长期可持续增长,那么当前的抛售可能是一个值得考虑的机会。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,我们发现了浙江长盛滑动轴承的两个警告信号,在投资这里之前,您应该注意这两个警示标志。
Of course Zhejiang Changsheng Sliding Bearings may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
当然,浙江长盛滑动轴承可能不是最好的买入股票。因此,您可能希望看到这批免费的成长股。
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。