Earnings Growth of 1.4% Over 3 Years Hasn't Been Enough to Translate Into Positive Returns for FinVolution Group (NYSE:FINV) Shareholders
Earnings Growth of 1.4% Over 3 Years Hasn't Been Enough to Translate Into Positive Returns for FinVolution Group (NYSE:FINV) Shareholders
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But in any portfolio, there are likely to be some stocks that fall short of that benchmark. We regret to report that long term FinVolution Group (NYSE:FINV) shareholders have had that experience, with the share price dropping 38% in three years, versus a market return of about 21%. On top of that, the share price is down 6.0% in the last week. Importantly, this could be a market reaction to the recently released financial results. You can check out the latest numbers in our company report.
为了证明选择个股的努力是合理的,值得努力超过市场指数基金的回报。但是在任何投资组合中,都可能有一些股票未达到该基准。我们遗憾地报告,FinVolution集团(纽约证券交易所代码:FINV)的长期股东有过这样的经历,股价在三年内下跌了38%,而市场回报率约为21%。最重要的是,上周股价下跌了6.0%。重要的是,这可能是市场对最近公布的财务业绩的反应。您可以在我们的公司报告中查看最新的数字。
Given the past week has been tough on shareholders, let's investigate the fundamentals and see what we can learn.
鉴于过去一周对股东来说很艰难,让我们调查一下基本面,看看我们能学到什么。
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 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.
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合理地反映企业的价值。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, FinVolution Group actually saw its earnings per share (EPS) improve by 4.1% 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,FinVolution集团的每股收益(EPS)实际上每年增长4.1%。这真是个难题,表明可能会有一些东西暂时提振股价。否则,该公司过去曾被过度炒作,因此其增长令人失望。
It looks to us like the market was probably too optimistic around growth three years ago. But it's possible a look at other metrics will be enlightening.
在我们看来,三年前市场对增长可能过于乐观。但是,看看其他指标可能会有所启发。
Given the healthiness of the dividend payments, we doubt that they've concerned the market. We like that FinVolution Group has actually grown its revenue over the last three years. But it's not clear to us why the share price is down. It might be worth diving deeper into the fundamentals, lest an opportunity goes begging.
鉴于股息支付的健康状况,我们怀疑股息是否令市场担忧。我们和FinVolution集团一样,在过去三年中,其收入实际上有所增长。但是我们不清楚为什么股价下跌。可能值得深入研究基本面,以免机会流失。
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
下图描述了收入和收入随时间推移而发生的变化(点击图片即可显示确切的数值)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240522/0-58b75772d978d9860b64d563eba43c69-0-f48a1355b93da5d36d7be0f5d8479217.png/big)
You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.
您可以在这张免费的交互式图片中看到其资产负债表如何随着时间的推移而增强(或减弱)。
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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of FinVolution Group, it has a TSR of -28% for the last 3 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
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。因此,对于支付丰厚股息的公司来说,股东总回报率通常远高于股价回报率。就FinVolution集团而言,在过去三年中,其股东回报率为-28%。这超过了我们之前提到的其股价回报率。而且,猜测股息支付在很大程度上解释了这种分歧是没有好处的!
A Different Perspective
不同的视角
FinVolution Group shareholders have received returns of 27% over twelve months (even including dividends), which isn't far from the general market return. Most would be happy with a gain, and it helps that the year's return is actually better than the average return over five years, which was 3%. Even if the share price growth slows down from here, there's a good chance that this is business worth watching in the long term. 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 be aware of the 1 warning sign we've spotted with FinVolution Group .
FinVolution集团的股东在十二个月内获得了27%的回报(甚至包括股息),这与总体市场回报率相差不远。大多数人会对收益感到满意,而今年的回报率实际上好于五年的平均回报率(3%),这很有帮助。即使股价增长从现在开始放缓,从长远来看,这很可能是值得关注的业务。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,你应该注意我们在FinVolution集团发现的1个警告信号。
If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.
如果你像我一样,那么你一定不想错过这份内部人士正在买入的被低估的小盘股的免费清单。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文引用的市场回报反映了目前在美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。