Ningbo Tuopu GroupLtd's (SHSE:601689) Five-year Earnings Growth Trails the Enviable Shareholder Returns
Ningbo Tuopu GroupLtd's (SHSE:601689) Five-year Earnings Growth Trails the Enviable Shareholder Returns
We think all investors should try to buy and hold high quality multi-year winners. And we've seen some truly amazing gains over the years. To wit, the Ningbo Tuopu Group Co.,Ltd. (SHSE:601689) share price has soared 500% over five years. And this is just one example of the epic gains achieved by some long term investors. In the last week the share price is up 6.0%. It really delights us to see such great share price performance for investors.
我们认为所有投资者都应该尝试购买和持有高质量的多年赢家。而多年来，我们看到了一些真正惊人的增长。以宁波拓普集团股份有限公司(上交所：601689)的股价在过去5年增长了500%为例。这只是一些长期投资者获得的史诗级收益的例子之一。在过去一周，股价上涨了6.0%。看到这样表现优异的股价对投资者而言是非常令人高兴的。
Since it's been a strong week for Ningbo Tuopu GroupLtd shareholders, let's have a look at trend of the longer term fundamentals.
由于拓普集团股份有限公司股东这一周表现强劲，让我们来看看更长期基本面的趋势。
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 way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).
用本杰明·格雷厄姆的话来说：“短期市场是一台投票机，但长期市场是一台称重机”。检查市场情绪如何随时间推移变化的一种方式是查看公司股价和每股收益（EPS）之间的相互作用。
During five years of share price growth, Ningbo Tuopu GroupLtd achieved compound earnings per share (EPS) growth of 26% per year. This EPS growth is lower than the 43% average annual increase in the share price. This suggests that market participants hold the company in higher regard, these days. And that's hardly shocking given the track record of growth.
在股价增长的五年中，拓普集团股份有限公司实现了每股收益(EPS)复合增长率为26%。这种EPS增长低于股价每年平均增长43%。这表明市场参与者现在更高地评价了该公司。鉴于其增长记录几乎没有什么惊人之处，这并不令人惊讶。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下图显示了EPS随时间变化的情况（点击图像以显示确切值）。
It is of course excellent to see how Ningbo Tuopu GroupLtd has grown profits over the years, but the future is more important for shareholders. Take a more thorough look at Ningbo Tuopu GroupLtd's financial health with this free report on its balance sheet.
当然，看到拓普集团股份有限公司多年来的利润增长是非常出色的，但是未来对股东而言更为重要。使用该公司资产负债表的免费报告来更加全面地了解拓普集团股份有限公司的财务状况。
What About Dividends?
那么分红怎么样呢？
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Ningbo Tuopu GroupLtd's TSR for the last 5 years was 513%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!
除了衡量股价回报外，投资者还应考虑总股东回报(TSR)。TSR包括任何剥离或折价融资的价值，以及基于股息再投资的任何分红。从某种意义上说，TSR可以更全面地反映股票的回报情况。碰巧，在过去5年中拓普集团股份有限公司的TSR达到了513%，超过了前面提到的股价回报。而且毫无疑问，分红支付在很大程度上解释了这种差异！
A Different Perspective
不同的观点
While the broader market lost about 17% in the twelve months, Ningbo Tuopu GroupLtd shareholders did even worse, losing 19% (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. On the bright side, long term shareholders have made money, with a gain of 44% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. 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 risks, for instance. Every company has them, and we've spotted 2 warning signs for Ningbo Tuopu GroupLtd you should know about.
虽然更广泛的市场在过去12个月中下跌了约17%，拓普集团股份有限公司的股东表现得更差，失去了19%（包括股息）。话虽如此，一些股票在下跌市场中被超卖是不可避免的。关键在于保持对基本面发展的关注。好消息是，长期股东赚了钱，在过去的五年中年均收益率增长了44%。如果基本数据继续表明长期可持续增长，当前的抛售可能是值得考虑的机会。虽然考虑市场状况可能对股价产生的不同影响是值得的，但还有其他更重要的因素。要考虑风险。每个公司都有风险，我们发现了2个关于拓普集团股份有限公司的警告信号，您应该知道。
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。
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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.
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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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