Doctorglasses ChainLtd's (SZSE:300622) Five-year Earnings Growth Trails the 9.2% YoY Shareholder Returns
Doctorglasses ChainLtd's (SZSE:300622) Five-year Earnings Growth Trails the 9.2% YoY Shareholder Returns
Stock pickers are generally looking for stocks that will outperform the broader market. Buying under-rated businesses is one path to excess returns. For example, long term Doctorglasses Chain Co.,Ltd. (SZSE:300622) shareholders have enjoyed a 38% share price rise over the last half decade, well in excess of the market return of around 0.5% (not including dividends).
股票选择者通常希望选出的股票会跑赢整个市场。购买被低估的企业是获得超额回报的一种方式。例如,长期持有博士眼镜股份有限公司(SZSE:300622)的股东在过去的半个十年中,股价上涨了38%,远远超过市场回报率0.5%(不包括股息)。
Since the stock has added CN¥383m to its market cap in the past week alone, let's see if underlying performance has been driving long-term returns.
由于该股票过去一周市值增加了人民币3,8300万,让我们看看潜在的业绩是否推动了长期回报。
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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).
在他的《格雷厄姆和道德斯维尔的超级投资者》一文中,沃伦·巴菲特描述了股价并不总是合理反映企业价值的方法。检验市场情绪如何随时间变化的一种方法是观察公司股价和每股收益(EPS)之间的互动关系。
Over half a decade, Doctorglasses ChainLtd managed to grow its earnings per share at 13% a year. The EPS growth is more impressive than the yearly share price gain of 7% over the same period. So one could conclude that the broader market has become more cautious towards the stock.
在半个十年的时间里,博士眼镜股份有限公司实现了每股收益年均增长13%。EPS增长比同期的每年7%股价增长更为惊人。因此,人们可以得出这样的结论,市场整体对该公司的股票已变得更为谨慎。
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)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240730/0-dbd82d015054c06e7982d8d37abbd392-0-6aaed05b617375b42d3424859eee4d5b.png/big)
This free interactive report on Doctorglasses ChainLtd's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
如果您想进一步调查该股票,博士眼镜股份有限公司的盈利、营业收入和现金流的这份免费交互式报告是一个很好的起点。
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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Doctorglasses ChainLtd, it has a TSR of 55% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
除了衡量股价回报外,投资者还应该考虑总股东回报率(TSR)。TSR包括任何分拆或折价增发的价值以及任何股息,假定股息再投资。因此,对于那些支付慷慨股息的公司,TSR通常比股价回报率高得多。就博士眼镜股份有限公司而言,它在过去5年中的TSR为55%。它超过了我们之前提到的股价回报率。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的观点
While the broader market lost about 19% in the twelve months, Doctorglasses ChainLtd shareholders did even worse, losing 28% (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. On the bright side, long term shareholders have made money, with a gain of 9% per year over half a decade. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. 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 instance, we've identified 2 warning signs for Doctorglasses ChainLtd that you should be aware of.
当整个市场在12个月内损失约19%时,博士眼镜股份有限公司的股东表现得更糟,他们损失了28%(包括股息)。然而,这可能仅仅是由于更广泛的市场担忧而影响了股价。如果有机会,重点关注基本面是值得的。从积极的一面来看,长期股东已经赚钱,获得了每年9%的收益率,持续了半个十年。这可能是最近抛售的机会,因此检查基本数据以寻找长期增长趋势的迹象可能是值得的。我觉得用股价长期表现作为业务表现的代理是非常有趣的。但是,为了真正获得洞察力,我们还需要考虑其他信息。例如,我们已经发现了博士眼镜股份有限公司的2个警示信号,您应该注意。
But note: Doctorglasses ChainLtd may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
但请注意:博士眼镜股份有限公司可能不是最好的股票。因此,请查看具有过去盈利增长的有趣公司(以及更进一步的增长预测)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。
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.
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@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
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。