Shareholders in Huafon Chemical (SZSE:002064) Are in the Red If They Invested Three Years Ago
Shareholders in Huafon Chemical (SZSE:002064) Are in the Red If They Invested Three Years Ago
Huafon Chemical Co., Ltd. (SZSE:002064) shareholders should be happy to see the share price up 16% in the last month. But that cannot eclipse the less-than-impressive returns over the last three years. After all, the share price is down 47% in the last three years, significantly under-performing the market.
华丰化工有限公司(深圳证券交易所:002064)股东应该很高兴看到上个月股价上涨了16%。但这并不能掩盖过去三年来不那么令人印象深刻的回报。毕竟,股价在过去三年中下跌了47%,表现大大低于市场。
So let's have a look and see if the longer term performance of the company has been in line with the underlying business' progress.
因此,让我们来看看公司的长期表现是否与基础业务的进展一致。
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
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。评估公司情绪变化的一种有缺陷但合理的方法是将每股收益(EPS)与股价进行比较。
During the unfortunate three years of share price decline, Huafon Chemical actually saw its earnings per share (EPS) improve by 7.1% per year. This is quite a puzzle, and suggests there might be something temporarily buoying the share price. Or else the company was over-hyped in the past, and so its growth has disappointed.
在不幸的三年股价下跌中,华丰化学的每股收益(EPS)实际上每年增长7.1%。这真是个难题,表明股价可能会暂时上涨。否则,该公司过去曾被过度炒作,因此其增长令人失望。
Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.
由于每股收益的变化似乎与股价的变化无关,因此值得一看其他指标。
We note that, in three years, revenue has actually grown at a 15% annual rate, so that doesn't seem to be a reason to sell shares. It's probably worth investigating Huafon Chemical further; while we may be missing something on this analysis, there might also be an opportunity.
我们注意到,在三年内,收入实际上以15%的年增长率增长,因此这似乎不是出售股票的理由。可能值得进一步研究华丰化学;虽然我们在分析中可能遗漏了一些东西,但也可能有机会。
You can see how earnings and revenue have 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收入和收入随时间推移而发生的变化(点击图表查看确切值)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240306/0-1787eb9c8d8e78a287359d4afa152cca-0-e7db78ba3d0484d9b15036c620d7b668.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?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Huafon Chemical, it has a TSR of -43% for the last 3 years. That exceeds its share price return that we previously mentioned. 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。股东总回报率是一种回报计算方法,它考虑了现金分红的价值(假设收到的任何股息都经过再投资)以及任何贴现资本筹集和分拆的计算价值。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。以华丰化学为例,在过去三年中,其股东回报率为-43%。这超过了我们之前提到的其股价回报率。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的视角
Although it hurts that Huafon Chemical returned a loss of 7.7% in the last twelve months, the broader market was actually worse, returning a loss of 16%. Of course, the long term returns are far more important and the good news is that over five years, the stock has returned 6% for each year. It could be that the business is just facing some short term problems, but shareholders should keep a close eye on the fundamentals. 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. To that end, you should learn about the 3 warning signs we've spotted with Huafon Chemical (including 1 which is a bit unpleasant) .
尽管华丰化学在过去十二个月中回报了7.7%的亏损令人痛心,但整个市场实际上更糟,亏损了16%。当然,长期回报要重要得多,好消息是,在过去的五年中,该股每年的回报率为6%。可能是该企业正面临一些短期问题,但股东应密切关注基本面。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。为此,你应该了解我们在华丰化学身上发现的3个警告信号(包括一个有点不愉快的警示信号)。
Of course Huafon Chemical may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
当然,华丰化工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。