The Total Return for Jianmin Pharmaceutical GroupLtd (SHSE:600976) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
The Total Return for Jianmin Pharmaceutical GroupLtd (SHSE:600976) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But on the bright side, you can make far more than 100% on a really good stock. Long term Jianmin Pharmaceutical Group Co.,Ltd. (SHSE:600976) shareholders would be well aware of this, since the stock is up 243% in five years. But it's down 8.6% in the last week.
在购买公司股份(假设没有杠杆)后,最糟糕的结果就是你失去了你投入的所有钱。但好的一面是,你可以在一只真正好的股票上赚取远远超过100%的利润。长期来看,艾卫公司(简称健民集团,股票代码SHSE:600976)的股东都非常清楚这一点,因为这支股票的涨幅在过去五年里达到了243%。但在上周下跌了8.6%。
While the stock has fallen 8.6% this week, it's worth focusing on the longer term and seeing if the stocks historical returns have been driven by the underlying fundamentals.
虽然本周股价下跌了8.6%,但值得关注的是,着眼于长期,看看股票的历史回报是否受到潜在基本面因素的影响。
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:“船只将周游世界,而‘地平派’仍会兴旺。市场上的价格和价值仍会存在广泛的差距……”考虑一家公司在市场上的认知如何变化的一个不完美但简单的方法是比较每股收益(EPS)的变化和股价的波动。
Over half a decade, Jianmin Pharmaceutical GroupLtd managed to grow its earnings per share at 46% a year. This EPS growth is higher than the 28% average annual increase in the share price. Therefore, it seems the market has become relatively pessimistic about the company.
在五年的时间内,健民集团成功将每股收益增长46%。EPS增长率高于每股股价的平均年增长率28%。因此,市场似乎变得相对悲观。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下面的图片中查看每股收益如何随时间变化(单击图表以查看确切的价值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240620/0-0990586f5551059cb0cbf2b7b0d73c05-0-77553b735b0dc40c38e2643f92991583.png/big)
We know that Jianmin Pharmaceutical GroupLtd has improved its bottom line over the last three years, but what does the future have in store? You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.
我们知道,健民集团在过去三年里改善了其盈利能力,但未来会发生什么呢?请在这个免费的互动图形中查看其资产负债表如何随着时间变化而变得更加强大(或弱化)。
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 is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Jianmin Pharmaceutical GroupLtd, it has a TSR of 270% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
对于任何给定的股票,考虑总股东回报和股价回报都是很重要的。TSR是一种回报计算,考虑到现金股息的价值(假设任何股息都是再投资的)以及任何资本增发和分拆的折价价值。可以说,TSR为支付股息的股票提供了更完整的画面。以健民集团为例,过去5年的TSR为270%。这超过了以前提到的股价回报。这主要是由于其股息付款所造成的!
A Different Perspective
不同的观点
While the broader market lost about 14% in the twelve months, Jianmin Pharmaceutical GroupLtd shareholders did even worse, losing 20% (even including dividends). However, it could simply be that the share price has been impacted by broader market jitters. It might be worth keeping an eye on the fundamentals, in case there's a good opportunity. Longer term investors wouldn't be so upset, since they would have made 30%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. 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. Take risks, for example - Jianmin Pharmaceutical GroupLtd has 2 warning signs (and 1 which doesn't sit too well with us) we think you should know about.
虽然更广泛的市场在过去十二个月中大约下跌了14%,但健民集团的股东甚至做得更糟糕,亏损了20%(即使包括红利)。然而,这可能仅仅是股价受到更广泛的市场恐慌的影响。值得关注的是其基本面,以寻找投资机会。长期投资者不会感到那么沮丧,因为他们在五年中每年都赚了30%。如果基本数据继续表明存在长期可持续性增长,那么当前的抛售可能是值得考虑的机会。我发现长期股价作为业务表现的代理非常有趣。但是为了真正获得洞察力,我们还需要考虑其他信息。例如风险-健民集团有2个警告信号(其中一个与我们不太合适),我们认为您应该了解。
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 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上市的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。