Tongling Nonferrous Metals GroupLtd's (SZSE:000630) Investors Will Be Pleased With Their Respectable 88% Return Over the Last Five Years
Tongling Nonferrous Metals GroupLtd's (SZSE:000630) Investors Will Be Pleased With Their Respectable 88% Return Over the Last Five Years
Stock pickers are generally looking for stocks that will outperform the broader market. Buying under-rated businesses is one path to excess returns. To wit, the Tongling Nonferrous Metals GroupLtd share price has climbed 73% in five years, easily topping the market return of 15% (ignoring dividends). On the other hand, the more recent gains haven't been so impressive, with shareholders gaining just 46%, including dividends.
选股者通常在寻找表现优于大盘的股票。收购被低估的企业是获得超额回报的一种途径。换句话说,铜陵有色金属集团有限公司的股价在五年内上涨了73%,轻松超过了15%的市场回报率(不计股息)。另一方面,最近的涨幅并不那么令人印象深刻,股东仅增长了46%,包括股息。
Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business.
现在也值得一看公司的基本面,因为这将有助于我们确定长期股东回报是否与基础业务的表现相匹配。
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. 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.
用本杰明·格雷厄姆的话来说:从短期来看,市场是一台投票机器,但从长远来看,它是一台称重机。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。
Over half a decade, Tongling Nonferrous Metals GroupLtd managed to grow its earnings per share at 23% a year. The EPS growth is more impressive than the yearly share price gain of 12% over the same period. Therefore, it seems the market has become relatively pessimistic about the company.
在过去的五年中,铜陵有色金属集团有限公司设法将每股收益增长到每年23%。每股收益的增长比同期12%的年度股价增长更令人印象深刻。因此,市场似乎对该公司变得相对悲观。
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
该公司的每股收益(随着时间的推移)如下图所示(点击查看确切数字)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240522/0-d927ac0e00d45a7089b73b5623ce9120-0-ebcb6c8708d68f38eabec81f5366f9f9.png/big)
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. 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。但是,尽管首席执行官的薪酬总是值得检查的,但真正重要的问题是公司未来能否增加收益。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. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Tongling Nonferrous Metals GroupLtd, it has a TSR of 88% for the last 5 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。基于股息再投资的假设,股东总回报率纳入了任何分拆或贴现资本筹集的价值以及任何股息。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。就铜陵有色金属集团有限公司而言,其过去5年的股东回报率为88%。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
It's nice to see that Tongling Nonferrous Metals GroupLtd shareholders have received a total shareholder return of 46% over the last year. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 13% per year), it would seem that the stock's performance has improved in recent times. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. It's always interesting to track share price performance over the longer term. But to understand Tongling Nonferrous Metals GroupLtd better, we need to consider many other factors. Consider risks, for instance. Every company has them, and we've spotted 3 warning signs for Tongling Nonferrous Metals GroupLtd you should know about.
很高兴看到铜陵有色金属集团有限公司的股东去年获得了 46% 的总股东回报率。当然,这包括股息。由于一年期股东总回报率好于五年期股东总回报率(后者为每年13%),因此该股的表现似乎在最近有所改善。鉴于股价势头仍然强劲,可能值得仔细研究该股,以免错过机会。长期跟踪股价表现总是很有意思的。但是,要更好地了解铜陵有色金属集团有限公司,我们需要考虑许多其他因素。例如,考虑风险。每家公司都有它们,我们发现了你应该知道的铜陵有色金属集团有限公司的3个警告标志。
But note: Tongling Nonferrous Metals GroupLtd 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:铜陵有色金属集团有限公司可能不是最好的买入股票。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。