Jiangxi Ganyue ExpresswayLTD's (SHSE:600269) Three-year Total Shareholder Returns Outpace the Underlying Earnings Growth
Jiangxi Ganyue ExpresswayLTD's (SHSE:600269) Three-year Total Shareholder Returns Outpace the Underlying Earnings Growth
By buying an index fund, you can roughly match the market return with ease. But if you pick the right individual stocks, you could make more than that. For example, the Jiangxi Ganyue Expressway CO.,LTD. (SHSE:600269) share price is up 52% in the last three years, clearly besting the market decline of around 30% (not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 39% in the last year, including dividends.
通过购买指数基金,您可以轻松地大致匹配市场回报。但是,如果您选择正确的个体股票,则可能获得比这更多的利润。例如,江西赣粤高速公路股份有限公司(SHSE:600269)股价在过去三年中上涨了52%,明显优于市场下跌约30%(不包括股息)。然而,最近的回报没有那么令人印象深刻,该股票包括股息在内的去年只有39%。
Although Jiangxi Ganyue ExpresswayLTD has shed CN¥490m from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.
虽然江西赣粤高速公路股份有限公司本周市值下跌了49000万人民币,但让我们看看其长期的基本趋势并查看它们是否推动了回报。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.
不可否认的是,市场有时是高效的,但价格并不总是反映潜在的商业表现。一个不完美但简单的方法来考虑公司市场感知如何改变是比较每股收益(EPS)变化和股价变动。
Jiangxi Ganyue ExpresswayLTD was able to grow its EPS at 4.8% per year over three years, sending the share price higher. This EPS growth is lower than the 15% average annual increase in the share price. This suggests that, as the business progressed over the last few years, it gained the confidence of market participants. That's not necessarily surprising considering the three-year track record of earnings growth.
江西赣粤高速公路股份有限公司过去三年每年将其每股收益增长4.8%,从而提高了股价。这种每股收益增长低于股价平均年增长率的15%。这表明,随着业务在过去几年中的发展,它获得了市场参与者的信心。这并不令人惊讶,考虑到收益增长的三年记录。
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)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240717/0-1a4f803cf2904be8bb2719fca3acdd33-0-de4313e69707721a742fa912eb54fa68.png/big)
It might be well worthwhile taking a look at our free report on Jiangxi Ganyue ExpresswayLTD's earnings, revenue and cash flow.
查看我们关于江西赣粤高速公路股份有限公司收益,营业收入和现金流的免费报告非常值得。
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. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Jiangxi Ganyue ExpresswayLTD, it has a TSR of 62% for the last 3 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.
对于任何给定的股票,考虑总体股东回报和股票回报都非常重要。而股票回报仅反映股价的变化,TSR则包括股息的价值(假设它们被重新投资)以及任何优惠的资本筹集或剥离的好处。可以说,TSR提供了更全面的股票收益图像。在江西赣粤高速公路股份有限公司的情况下,它在过去3年中的TSR为62%。这超过了我们之前提到的股票回报。公司支付的股息因此提高了总股东回报。
A Different Perspective
不同的观点
We're pleased to report that Jiangxi Ganyue ExpresswayLTD shareholders have received a total shareholder return of 39% over one year. That's including the dividend. That gain is better than the annual TSR over five years, which is 6%. Therefore it seems like sentiment around the company has been positive lately. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. 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. For example, we've discovered 2 warning signs for Jiangxi Ganyue ExpresswayLTD (1 is a bit unpleasant!) that you should be aware of before investing here.
我们很高兴地报告,江西赣粤高速公路股份有限公司的股东在过去一年中获得了39%的总股东回报。包括股息在内。这种收益比五年期的年度TSR(6%)更高。因此,似乎最近对公司的情绪都是积极的。持有乐观态度的人可能会把TSR的最近改善视为企业本身随着时间的推移变得越来越好的指标。我发现长期股票价格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,我们发现江西赣粤高速公路股份有限公司有2个警告迹象(其中1个有点不快),在投资这里之前您应该了解它们。
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.
如果您愿意查看另一家公司(具有潜在的更好财务状况),请不要错过这个免费的公司列表,证明它们可以增长收益。
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.
对本文有反馈?对内容感到担忧?请直接与我们联系。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?对内容感到担忧?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。