KTK Group (SHSE:603680) Sheds CN¥400m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Five Years
KTK Group (SHSE:603680) Sheds CN¥400m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Five Years
Ideally, your overall portfolio should beat the market average. But even the best stock picker will only win with some selections. At this point some shareholders may be questioning their investment in KTK Group Co., Ltd. (SHSE:603680), since the last five years saw the share price fall 35%. And it's not just long term holders hurting, because the stock is down 26% in the last year. The falls have accelerated recently, with the share price down 16% in the last three months. But this could be related to the weak market, which is down 11% in the same period.
理想情况下,您的整体投资组合应该超过市场平均水平。但是即使最好的股票选择者也只能在某些选择中获胜。这时,一些股东可能会对KTk集团股份有限公司(SHSE:603680)的投资产生疑问,因为过去五年股价下跌了35%。不仅是长期持有人,连最近一年该股票也下跌了26%。最近的跌幅加剧,过去三个月股价下跌了16%。但这可能与疲软的市场有关,该市场在同一时期下跌了11%。
After losing 6.8% 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6.8%之后,值得调查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。
During the five years over which the share price declined, KTK Group's earnings per share (EPS) dropped by 8.2% each year. This change in EPS is remarkably close to the 8% average annual decrease in the share price. This suggests that market participants have not changed their view of the company all that much. Rather, the share price change has reflected changes in earnings per share.
在股价下跌的五年中,KTk集团每股收益(EPS)每年下降了8.2%。EPS的这种变化与股价年平均下降8%的变化非常接近。这表明市场参与者并没有太大改变他们对公司的看法。相反,股价的变化反映了EPS的变化。
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/7781/20240806/0-6142c0fda413bb166083359b07310642-0-7178a197c6111a2ff8d32c2b1f832eaf.png/big)
Dive deeper into KTK Group's key metrics by checking this interactive graph of KTK Group's earnings, revenue and cash flow.
通过查看KTk Group的收益,营业收入和现金流的互动图表,可以深入了解KTk Group的关键指标。
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. 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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, KTK Group's TSR for the last 5 years was -31%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
重要的是考虑任何股票的股东总回报率以及股价回报率。TSR是一种回报计算,它考虑到现金股利的价值(假定收到的任何股息都被再投资)以及折扣后的资本募集和分拆的计算值。可以说,TSR提供了股票所产生的回报的更全面的图片。恰好,KTk集团过去5年的TSR为-31%,超过了之前提到的股价回报率。这在很大程度上是其分红的结果!
A Different Perspective
不同的观点
We regret to report that KTK Group shareholders are down 25% for the year (even including dividends). Unfortunately, that's worse than the broader market decline of 19%. 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. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 5% per year over five years. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. 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. Take risks, for example - KTK Group has 3 warning signs (and 1 which is potentially serious) we think you should know about.
我们很遗憾地报告,即使包括股息在内,KTk集团的股东今年亏损了25%。不幸的是,这比整个市场下跌的19%更糟糕。话虽如此,在下跌市场中一些股票被过度抛售是不可避免的。关键是关注基本面发展。遗憾的是,去年的表现为股东们面临的五年总损失率达到了5%。一般来说,长期股价走弱可能是一个不好的迹象,尽管矛盾的投资者可能希望研究这只股票,以期望扭转局面。我发现长期的股价走势是业务表现的一个代理。但是,要真正获得深入的见解,我们还需要考虑其他信息。例如风险 - KTk集团有3个警告信号(其中1个可能非常严重),我们认为您应该了解。
But note: KTK Group 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:KTk Group可能不是最好的股票买入选择。因此,请查看此免费的有过去收益增长(及进一步增长预测)的有趣公司列表。
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。