China South Publishing & Media Group's (SHSE:601098) Three-year Total Shareholder Returns Outpace the Underlying Earnings Growth
China South Publishing & Media Group's (SHSE:601098) Three-year Total Shareholder Returns Outpace the Underlying Earnings Growth
By buying an index fund, you can roughly match the market return with ease. But many of us dare to dream of bigger returns, and build a portfolio ourselves. For example, the China South Publishing & Media Group Co., Ltd (SHSE:601098) share price is up 19% in the last three years, clearly besting the market decline of around 20% (not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 11% in the last year , including dividends .
通过购买指数基金,您可以轻松地大致匹配市场回报。但是我们中的许多人敢于梦想获得更大的回报,并自己建立投资组合。例如,中南出版传媒集团有限公司(SHSE: 601098)的股价在过去三年中上涨了19%,明显超过了市场约20%(不包括股息)的跌幅。但是,最近的回报并不那么令人印象深刻,该股去年的回报率仅为11%,包括股息。
In light of the stock dropping 3.0% in the past week, we want to investigate the longer term story, and see if fundamentals have been the driver of the company's positive three-year return.
鉴于该股在过去一周下跌了3.0%,我们想调查长期情况,看看基本面是否是该公司三年期正回报率的驱动力。
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' 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.
引用巴菲特的话说:“船只将在世界各地航行,但Flat Earth Society将蓬勃发展。市场上的价格和价值之间将继续存在巨大差异...”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 three years of share price growth, China South Publishing & Media Group achieved compound earnings per share growth of 8.6% per year. The average annual share price increase of 6% is actually lower than the EPS growth. So it seems investors have become more cautious about the company, over time.
在三年的股价增长中,中南出版传媒集团实现了每年8.6%的复合每股收益增长。6%的年平均股价涨幅实际上低于每股收益的增长。因此,随着时间的推移,投资者似乎对该公司变得更加谨慎了。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下图描述了 EPS 随着时间的推移是如何变化的(点击图片可以看到确切的值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240328/0-45cfd1a7a8a53e13b759f41350f814ad-0-a076286cb91b147774817f78b48a4a19.png/big)
We know that China South Publishing & Media Group has improved its bottom line lately, but is it going to grow revenue? If you're interested, you could check this free report showing consensus revenue forecasts.
我们知道中南出版传媒集团最近提高了利润,但它会增加收入吗?如果你感兴趣,可以查看这份显示共识收入预测的免费报告。
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for China South Publishing & Media Group the TSR over the last 3 years was 44%, which is better than the share price return mentioned above. 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。可以说,股东总回报率更全面地描述了股票产生的回报。我们注意到,中南出版传媒集团过去3年的股东总回报率为44%,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
It's nice to see that China South Publishing & Media Group shareholders have received a total shareholder return of 11% over the last year. That's including the dividend. That gain is better than the annual TSR over five years, which is 4%. Therefore it seems like sentiment around the company has been positive lately. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. Before forming an opinion on China South Publishing & Media Group you might want to consider the cold hard cash it pays as a dividend. This free chart tracks its dividend over time.
很高兴看到中南出版传媒集团的股东去年获得了11%的总股东回报率。这包括股息。这一增幅好于五年内的年度股东总回报率,即4%。因此,最近公司周围的情绪似乎一直很乐观。持乐观态度的人可能会将最近股东总回报率的改善视为业务本身随着时间的推移而变得更好。在对中南出版传媒集团形成意见之前,你可能需要考虑将其支付的冷硬现金作为股息。这张免费图表追踪了其一段时间内的股息。
But note: China South Publishing & Media Group 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:中南出版传媒集团可能不是最佳的买入股票。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。
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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。