Inspur Software's (SHSE:600756) Earnings Have Declined Over Five Years, Contributing to Shareholders 51% Loss
Inspur Software's (SHSE:600756) Earnings Have Declined Over Five Years, Contributing to Shareholders 51% Loss
Inspur Software Co., Ltd. (SHSE:600756) shareholders should be happy to see the share price up 14% in the last week. But that can't change the reality that over the longer term (five years), the returns have been really quite dismal. In that time the share price has delivered a rude shock to holders, who find themselves down 52% after a long stretch. So we're hesitant to put much weight behind the short term increase. We'd err towards caution given the long term under-performance.
SHSE:600756的股东应该很高兴看到股价在过去的一周内上涨了14%。但是,在更长期的时间尺度(五年)内,股票回报率实际上相当惨淡。在这段时间里,股价给持有者带来了一个恶劣的惊喜,他们发现自己长期以来一直处于52%的亏损状态。所以我们对短期增长不抱太大希望。考虑到长期低迷表现,我们更倾向于谨慎。
On a more encouraging note the company has added CN¥450m to its market cap in just the last 7 days, so let's see if we can determine what's driven the five-year loss for shareholders.
更令人鼓舞的是,Inspur Software在过去7天内为其市值增加了人民币4.5亿,让我们看看是什么导致了股东的五年亏损。
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. 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.
为了概述本杰明·格雷厄姆(Benjamin Graham)的话:短期内,市场是一台投票机,但长期来看,它是一台衡重机。思考一家公司的市场感知如何转变的一种不完美但简单的方法是将每股收益(EPS)变化与股价变动进行比较。
During five years of share price growth, Inspur Software moved from a loss to profitability. That would generally be considered a positive, so we are surprised to see the share price is down. Other metrics might give us a better handle on how its value is changing over time.
在股价增长五年的时间里,浪潮软件已经从亏损转向盈利。这一般是被认为是一种积极的信号,因此我们很惊讶股价下跌。其他指标可能会更好地帮助我们了解其价值随时间的变化。
We don't think that the 0.3% is big factor in the share price, since it's quite small, as dividends go. In contrast to the share price, revenue has actually increased by 15% 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.
我们不认为0.3%对股价是重大影响,因为相对于股息而言,这是相当小的。相比于股价,在五年期内营业收入实际上每年增长了15%。因此,看起来需要更仔细地审视基本面才能理解股价为什么低迷。毕竟,机会可能在眼前。
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
下面的图表显示了收益和营收随时间的变化情况(通过单击图像揭示确切的值)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240703/0-36fa86ff4d1f6d1c0db6188d073c2706-0-512cd7fb24b8078088f7509b2556bd6b.png/big)
Take a more thorough look at Inspur Software's financial health with this free report on its balance sheet.
通过对其资产负债表的免费报告对Inspur Software的财务状况进行更全面的审查。
A Different Perspective
不同的观点
While the broader market lost about 16% in the twelve months, Inspur Software shareholders did even worse, losing 33% (even including dividends). 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 9% 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. 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. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Inspur Software (at least 1 which is significant) , and understanding them should be part of your investment process.
虽然整个市场在十二个月内损失了约16%,但Inspur Software的股东表现得更差,甚至包括股息在内的亏损达到了33%。话虽如此,跌宕起伏的市场中有些股票不可避免地被过度卖出。关键是要密切关注基本面的发展。不幸的是,去年的表现可能意味着无法解决的挑战,因为它甚至比过去半个十年的年化亏损9%还要糟糕。我们意识到Baron Rothschild曾说过,投资者应该“在大街上流血时购买股票”,但我们警告投资者首先要确信自己购买的是高品质的企业。虽然值得考虑市场条件可能对股价产生的不同影响,但更重要的因素是投资风险的不断浮现。我们已经确定了两个警示信号与Inspur Software有关(至少有一个是显著的),理解它们应该成为您投资过程的一部分。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
当然,您可能在其他地方找到一家出色的企业进行投资。因此,请查看我们预计将实现盈利增长的公司的免费列表。
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。
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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
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