Investors in UOL Group (SGX:U14) Have Unfortunately Lost 20% Over the Last Five Years
Investors in UOL Group (SGX:U14) Have Unfortunately Lost 20% Over the Last Five Years
Ideally, your overall portfolio should beat the market average. But every investor is virtually certain to have both over-performing and under-performing stocks. So we wouldn't blame long term UOL Group Limited (SGX:U14) shareholders for doubting their decision to hold, with the stock down 29% over a half decade.
理想情况下,你的整个投资组合都应该超过市场平均水平。然而,每个投资者几乎肯定会拥有表现超前和表现落后的股票。因此,我们不会责怪长期持有华业集团有限公司(SGX:U14)股票的股东对他们的持股决定表示怀疑,因为股票在过去的五年中下跌了29%。
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.
现在让我们看看这家公司的基本面,看看长期股东回报是否与基础业务的表现相匹配。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.
市场有时候是有效的,但价格并不总是反映公司的基本业务表现。通过比较每股收益和股价变化,我们可以了解投资者对公司的看法如何随着时间变化而变化。
During the unfortunate half decade during which the share price slipped, UOL Group actually saw its earnings per share (EPS) improve by 11% per year. Given the share price reaction, one might suspect that EPS is not a good guide to the business performance during the period (perhaps due to a one-off loss or gain). Alternatively, growth expectations may have been unreasonable in the past.
在不幸的半个十年内,股价下跌期间,华业集团的每股收益(EPS)实际上每年提高了11%。考虑到股价反应,人们可能会怀疑EPS并不是该期间业绩的良好指南(可能由于一次性损益)。或者,过去的增长预期可能是不合理的。
Because of the sharp contrast between the EPS growth rate and the share price growth, we're inclined to look to other metrics to understand the changing market sentiment around the stock.
由于EPS增长率与股价增长率之间的明显对比,我们倾向于寻找其他指标以了解股票周围变化的市场情绪。
In contrast to the share price, revenue has actually increased by 7.4% a year in the five year period. So it seems one might have to take closer look at the fundamentals to understand why the share price languishes. After all, there may be an opportunity.
与股价相比,营业收入实际上在五年期间每年增长了7.4%。因此,似乎需要更仔细地审视基本面,以了解股价为什么低迷。毕竟,这可能是一个机会。
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
你可以在下面的图片中看到收入和营业收入随时间的变化情况(单击图表可查看精确值)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240616/0-bfed7e8920b802397f7eb030de912d19-0-5a743eca906e33e7399979e0166bd7a2.png/big)
It is of course excellent to see how UOL Group has grown profits over the years, but the future is more important for shareholders. It might be well worthwhile taking a look at our free report on how its financial position has changed over time.
UOL集团多年来增长利润的表现当然非常出色,但未来对股东更为重要。值得一提的是,我们最好关注一下我们的免费报告,了解其财务状况是如何随时间变化的。
What About Dividends?
那么分红怎么样呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, UOL Group's TSR for the last 5 years was -20%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
对于任何给定的股票,考虑总股东回报以及股价回报同样重要。 TSR包括价值任何股息再投资的分红或降价的资本募集,假设股息被再投资。可以说,TSR为支付股息的股票提供了更完整的图片。恰好UOL集团过去5年的TSR为-20%,超过了前面提到的股价回报。这在很大程度上是其分红所致!
A Different Perspective
不同的观点
While the broader market gained around 2.1% in the last year, UOL Group shareholders lost 20% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 4% per year over five years. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Even so, be aware that UOL Group is showing 2 warning signs in our investment analysis , and 1 of those makes us a bit uncomfortable...
虽然广义市场在过去一年中增长了约2.1%,但UOL集团的股东(包括股息)损失了20%。即使好股票的股价有时也会下跌,但我们希望在对基本业绩指标进行改善之前,能够看到业务的根本指标。遗憾的是,去年的表现结束了糟糕的脱轨,股东在过去五年中面临每年4%的总亏损。通常长期股价下跌可能是一个不好的迹象,尽管持相反投资观点的投资者可能希望研究该股票,寄希望于扭转形势。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: many of them are unnoticed AND have attractive valuation).
如果您喜欢与管理层一起购买股票,那么您可能会喜欢这个公司的免费列表。 (提示:其中许多公司不为人注意且具有吸引力的估值。)
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Singaporean exchanges.
请注意,本文中引用的市场回报反映了当前在新加坡交易所上市股票的市场加权平均回报。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对本文有反馈?关于内容有所顾虑?直接和我们联系。或者,发送电子邮件至editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈?关于内容有所顾虑?直接和我们联系。或者发送电子邮件至editorial-team@simplywallst.com。