Guoco Group (HKG:53) Investors Are Sitting on a Loss of 32% If They Invested Five Years Ago
Guoco Group (HKG:53) Investors Are Sitting on a Loss of 32% If They Invested Five Years Ago
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 Guoco Group Limited (HKG:53), since the last five years saw the share price fall 41%.
为了证明选择个股的努力是值得的,值得努力打败市场基金的回报。但即使是最好的股票选择者也只能通过一些股票赢得胜利。在这一点上,一些股东可能会质疑他们对国浩集团有限公司(HKG:53)的投资,因为过去五年股价下跌了41%。
It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that.
值得评估公司的经济状况是否与这些不尽如人意的股东回报同时发展并步调一致,或者两者之间是否存在差异。因此,让我们来看看。
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. 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).
虽然有效市场假说仍然被一些人教授,但被证明市场是过度反应的动态系统,投资者并不总是理性的。检查市场情绪如何随时间变化的一种方法是看一个公司的股价与其每股收益(EPS)之间的交互作用。
Guoco Group became profitable within the last five years. Most would consider that to be a good thing, so it's counter-intuitive to see the share price declining. Other metrics might give us a better handle on how its value is changing over time.
国浩集团在过去五年内实现了盈利。这对大多数人来说都是一件好事,所以看到股价下跌是违反常理的。其他指标可能会更好地帮助我们掌握其价值随时间的变化。
We note that the dividend has fallen in the last five years, so that may have contributed to the share price decline.
我们注意到在过去五年中分红有所下降,因此这可能对股价下跌有所贡献。
You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).
您可以看到以下收益和营收的变化情况(通过单击图像了解精确值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240813/0-2c3dbfeac95d1bcd771c1f2d56b04d5f-0-3a947c88e772e6c8f16d269767bd5b13.png/big)
Balance sheet strength is crucial. It might be well worthwhile taking a look at our free report on how its financial position has changed over time.
资产负债表强度至关重要。查看我们关于其财务状况如何随时间变化的免费报告可能很值得一看。
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Guoco Group, it has a TSR of -32% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
在考虑投资回报时,考虑总股东回报(TSR)和股价回报之间的差异非常重要。TSR是一个回报计算,它考虑到现金股息的价值(假设任何收到的股息都是再投资的)以及任何折扣股本增发和分拆所计算的价值。可以说,TSR提供了股票所产生回报的更全面的图像。在国浩集团的情况下,过去5年的TSR为-32%。这超过了我们之前提到的股价回报。这主要是由于其分红派息的原因!
A Different Perspective
不同的观点
It's nice to see that Guoco Group shareholders have received a total shareholder return of 17% over the last year. That's including the dividend. That certainly beats the loss of about 6% per year over the last half decade. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. 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. Even so, be aware that Guoco Group is showing 2 warning signs in our investment analysis , you should know about...
很高兴看到国浩集团股东在过去一年中获得了总股东回报率为17%。包括股息在内。这当然要比过去一年的平均亏损6%要好得多。长期亏损让我们感到谨慎,但短期的TSR上涨确实暗示着更加美好的未来。用长期股价作为业务表现的一种代理是非常有趣的。但是,为了真正获得洞察力,我们需要考虑其他信息。尽管如此,请注意,在我们的投资分析中,国浩集团正显示出2个警告信号,您应该知道......
For those who like to find winning investments this free list of undervalued companies with recent insider purchasing, could be just the ticket.
对于那些喜欢寻找获胜投资的人来说,最近有内部购买的低估公司免费列表可能是一个很好的选择。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Hong Kong exchanges.
请注意,本文引用的市场回报反映了当前在香港证券交易所交易的股票的市场加权平均回报。
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