The Five-year Shareholder Returns and Company Earnings Persist Lower as Guangdong Marubi Biotechnology (SHSE:603983) Stock Falls a Further 6.2% in Past Week
The Five-year Shareholder Returns and Company Earnings Persist Lower as Guangdong Marubi Biotechnology (SHSE:603983) Stock Falls a Further 6.2% in Past Week
Looking back five years, both Guangdong Marubi Biotechnology's share price and EPS declined; the latter at a rate of 9.7% per year. Notably, the share price has fallen at 12% per year, fairly close to the change in the EPS. This implies that the market has had a fairly steady view of the stock. Rather, the share price has approximately tracked EPS growth. In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But even the best stock picker will only win with some selections. At this point some shareholders may be questioning their investment in Guangdong Marubi Biotechnology Co., Ltd. (SHSE:603983), since the last five years saw the share price fall 46%. Shareholders have had an even rougher run lately, with the share price down 16% in the last 90 days. Of course, this share price action may well have been influenced by the 7.4% decline in the broader market, throughout the period.
为了证明选股的努力值得，努力打败市场指数基金的回报率。但即使最好的股票选择者只能在某些选择中胜利。此时，一些股东可能会对丸美股份有所怀疑，因为过去五年股价下跌了46%。近90天，股东的日子更艰难了，股价下跌了16%。当然，在期间内的整个市场指数下降了7.4%，这种股价行动很可能受到了影响。
After losing 6.2% this past week, it's worth investigating the company's fundamentals to see what we can infer from past performance.
在过去的一周中下跌了6.2％后，值得研究公司的基本面，以了解我们可以从过去的表现中推断出什么。
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。
Looking back five years, both Guangdong Marubi Biotechnology's share price and EPS declined; the latter at a rate of 9.7% per year. Notably, the share price has fallen at 12% per year, fairly close to the change in the EPS. This implies that the market has had a fairly steady view of the stock. Rather, the share price has approximately tracked EPS growth.
回顾过去五年，丸美股份的股价和每股收益均下降，后者年均下降9.7%。值得注意的是，股价每年下降12%，与每股收益的变化相当接近。这意味着市场对该股的看法相当稳定。相反，股价大约跟踪每股收益增长。
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
该公司的每股收益（随时间的推移）如下图所示（单击可查看确切数字）。
We know that Guangdong Marubi Biotechnology has improved its bottom line lately, but is it going to grow revenue? Check if analysts think Guangdong Marubi Biotechnology will grow revenue in the future.
我们知道丸美股份最近改善了其底线，但它是否将增加营业收入呢？请查看分析师是否认为丸美股份未来将增加营业收入。
What About Dividends?
那么分红怎么样呢？
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Guangdong Marubi Biotechnology's TSR for the last 5 years was -43%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
在考虑投资回报率时，考虑总股东回报率（TSR）和股价回报率之间的差异非常重要。TSR是一种返回计算，考虑了现金股利的价值（假设任何收到的股利均已再投资）和任何折扣融资和分拆的计算价值。因此，对于支付慷慨股利的公司，TSR往往比股价回报率高得多。事实上，丸美股份过去5年的TSR为-43%，超过了前面提到的股价回报率。这主要是由于其股息支付！
A Different Perspective
不同的观点
The total return of 19% received by Guangdong Marubi Biotechnology shareholders over the last year isn't far from the market return of -19%. So last year was actually even worse than the last five years, which cost shareholders 7% per year. It will probably take a substantial improvement in the fundamental performance for the company to reverse this trend. It's always interesting to track share price performance over the longer term. But to understand Guangdong Marubi Biotechnology better, we need to consider many other factors. To that end, you should be aware of the 2 warning signs we've spotted with Guangdong Marubi Biotechnology .
丸美股份股东过去一年获得的总回报19%与市场回报率-19%相差不大。因此，去年实际上比过去五年更糟糕，股东每年亏损7%。要扭转这种趋势，该公司的基本业绩可能需要大幅改善。跟踪股价长期表现总是很有趣的。但是，为了更好地了解丸美股份公司，我们需要考虑许多其他因素。为此，您应了解我们已发现的2个丸美股份警告信号。
If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.
如果您像我一样，就不会希望错过这份免费的内部人士正在购买的低估小市值股票列表。
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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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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