The Past Five Years for Wynn Macau (HKG:1128) Investors Has Not Been Profitable
The Past Five Years for Wynn Macau (HKG:1128) Investors Has Not Been Profitable
Generally speaking long term investing is the way to go. But that doesn't mean long term investors can avoid big losses. Zooming in on an example, the Wynn Macau, Limited (HKG:1128) share price dropped 67% in the last half decade. That's not a lot of fun for true believers. And some of the more recent buyers are probably worried, too, with the stock falling 25% in the last year. Furthermore, it's down 35% in about a quarter. That's not much fun for holders.
一般而言,长期投资是必经之路。但这并不意味着长期投资者可以避免巨额损失。举个例子,永利澳门有限公司(HKG: 1128)的股价在过去五年中下跌了67%。对于真正的信徒来说,这并不是什么好玩的。一些最近的买家可能也感到担忧,该股去年下跌了25%。此外,它在大约一个季度内下降了35%。对于持有者来说,这并不好玩。
Now let's have a look at the company's fundamentals, and see if the long term shareholder return has matched the performance of the underlying business.
现在让我们来看看公司的基本面,看看长期股东回报是否与基础业务的表现相匹配。
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
用本杰明·格雷厄姆的话来说:从短期来看,市场是一台投票机器,但从长远来看,它是一台称重机。通过比较每股收益(EPS)和一段时间内的股价变化,我们可以了解投资者对公司的态度是如何随着时间的推移而变化的。
During five years of share price growth, Wynn Macau moved from a loss to profitability. That would generally be considered a positive, so we are surprised to see the share price is down. Other metrics may better explain the share price move.
在五年的股价增长中,永利澳门从亏损转为盈利。这通常会被视为利好,因此我们惊讶地看到股价下跌。其他指标可以更好地解释股价走势。
The modest 1.4% dividend yield is unlikely to be guiding the market view of the stock. It could be that the revenue decline of 30% per year is viewed as evidence that Wynn Macau is shrinking. This has probably encouraged some shareholders to sell down the stock.
1.4%的适度股息收益率不太可能指导该股的市场观点。每年收入下降30%可能被视为永利澳门正在萎缩的证据。这可能鼓励了一些股东抛售该股。
You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).
您可以在下面看到收入和收入如何随着时间的推移而变化(点击图片了解确切的值)。
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Wynn Macau is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth. Given we have quite a good number of analyst forecasts, it might be well worth checking out this free chart depicting consensus estimates.
永利澳门是一只知名股票,分析师报道丰富,这表明未来增长有一定的可见性。鉴于我们有相当多的分析师预测,这张描绘共识估计的免费图表可能值得一看。
A Different Perspective
不同的视角
Investors in Wynn Macau had a tough year, with a total loss of 24% (including dividends), against a market gain of about 5.3%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 11% over the last half decade. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. It's always interesting to track share price performance over the longer term. But to understand Wynn Macau better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Wynn Macau , and understanding them should be part of your investment process.
永利澳门的投资者经历了艰难的一年,总亏损24%(包括股息),而市场涨幅约为5.3%。但是,请记住,即使是最好的股票有时也会在十二个月内表现不如市场。不幸的是,去年的表现可能预示着尚未解决的挑战,因为它比过去五年中11%的年化亏损还要糟糕。我们意识到罗斯柴尔德男爵曾说过,投资者应该 “在街头流血时买入”,但我们警告说,投资者应首先确保他们购买的是高质量的企业。长期跟踪股价表现总是很有意思的。但是,为了更好地了解永利澳门,我们需要考虑许多其他因素。例如,投资风险的幽灵无处不在。我们已经确定了永利澳门的两个警告信号,了解它们应该是您投资过程的一部分。
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.
如果你想看看另一家公司——一家财务状况可能优异的公司——那么千万不要错过这份已经证明自己可以增加收益的公司的免费名单。
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目前在香港交易所交易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.
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。