The Past Five Years for AVIC Industry-Finance Holdings (SHSE:600705) Investors Has Not Been Profitable
The Past Five Years for AVIC Industry-Finance Holdings (SHSE:600705) Investors Has Not Been Profitable
The main aim of stock picking is to find the market-beating stocks. But the main game is to find enough winners to more than offset the losers So we wouldn't blame long term AVIC Industry-Finance Holdings Co., Ltd. (SHSE:600705) shareholders for doubting their decision to hold, with the stock down 49% over a half decade. And we doubt long term believers are the only worried holders, since the stock price has declined 21% over the last twelve months.
选股的主要目的是寻找市场领先的股票。但是主要的游戏是找到足够的赢家来抵消输家。因此,我们不会责怪中航工业金融控股有限公司(SHSE: 600705)的长期股东对他们的持股决定表示怀疑,该股在五年内下跌了49%。而且我们怀疑长期信徒是唯一担心的持有者,因为股价在过去十二个月中下跌了21%。
Now let's have a look at the company's fundamentals, and see if the long term shareholder return has matched the performance of the underlying business.
现在让我们来看看公司的基本面,看看长期股东回报是否与基础业务的表现相匹配。
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. 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.
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。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。
Looking back five years, both AVIC Industry-Finance Holdings' share price and EPS declined; the latter at a rate of 38% per year. The share price decline of 13% per year isn't as bad as the EPS decline. So investors might expect EPS to bounce back -- or they may have previously foreseen the EPS decline. The high P/E ratio of 90.02 suggests that shareholders believe earnings will grow in the years ahead.
回顾五年,中航工业金融控股的股价和每股收益均有所下降;后者每年下降38%。股价每年下跌13%,没有每股收益的下降那么严重。因此,投资者可能预计每股收益将反弹——或者他们此前可能已经预见到每股收益将下降。90.02的高市盈率表明股东认为未来几年收益将增长。
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/7781/20240423/0-b76ba5ad44fbdc2f3bff859cd7d4487d-0-88c585c0b0d0ef0aac45f9809488431d.png/big)
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. 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。一直值得关注首席执行官的薪酬,但更重要的问题是公司多年来是否会增加收益。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?
分红呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. In the case of AVIC Industry-Finance Holdings, it has a TSR of -42% for the last 5 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。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。就中航工业金融控股公司而言,其过去5年的股东总回报率为-42%。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
We regret to report that AVIC Industry-Finance Holdings shareholders are down 20% for the year (even including dividends). Unfortunately, that's worse than the broader market decline of 15%. 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. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. It's always interesting to track share price performance over the longer term. But to understand AVIC Industry-Finance Holdings better, we need to consider many other factors. Even so, be aware that AVIC Industry-Finance Holdings is showing 2 warning signs in our investment analysis , you should know about...
我们遗憾地报告,中航工业金融控股股东今年下跌了20%(甚至包括股息)。不幸的是,这比整个市场15%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。我们意识到罗斯柴尔德男爵曾说过,投资者应该 “在街头流血时买入”,但我们警告说,投资者应首先确保他们购买的是高质量的企业。长期跟踪股价表现总是很有意思的。但是,要更好地了解中航工业工业金融控股公司,我们需要考虑许多其他因素。即便如此,请注意,中航工业产融控股在我们的投资分析中显示出两个警告信号,您应该知道...
But note: AVIC Industry-Finance Holdings 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:中航工业金融控股公司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。
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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。