Recent 7.4% Pullback Isn't Enough to Hurt Long-term Shaanxi Aerospace Power Hi-Tech (SHSE:600343) Shareholders, They're Still up 28% Over 5 Years
Recent 7.4% Pullback Isn't Enough to Hurt Long-term Shaanxi Aerospace Power Hi-Tech (SHSE:600343) Shareholders, They're Still up 28% Over 5 Years
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, the Shaanxi Aerospace Power Hi-Tech Co., Ltd. (SHSE:600343) share price is up 28% in the last 5 years, clearly besting the market return of around 22% (ignoring dividends). On the other hand, the more recent gains haven't been so impressive, with shareholders gaining just 11%.
股票选择者通常寻找能够跑赢整体市场的股票。购买被低估的企业是获得超额回报的一种途径。例如,航天动力(SHSE:600343)的股价在过去5年中上涨了28%,明显优于市场回报约22%(不计分红)。另一方面,最近的涨幅并不那么令人印象深刻,股东仅获得了11%。
In light of the stock dropping 7.4% in the past week, we want to investigate the longer term story, and see if fundamentals have been the driver of the company's positive five-year return.
考虑到该公司股票在过去一周下跌了7.4%,我们想调查一下更长期的故事,并确定基本面是否是公司五年正收益的驱动力。
Shaanxi Aerospace Power Hi-Tech isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. Shareholders of unprofitable companies usually desire strong revenue growth. Some companies are willing to postpone profitability to grow revenue faster, but in that case one would hope for good top-line growth to make up for the lack of earnings.
航天动力目前尚未盈利,因此大多数分析师会关注营业收入增长,以了解基础业务增长速度。通常,亏损公司的股东希望看到强劲的营业收入增长。有些公司愿意推迟盈利以加快营收增长,但在这种情况下,人们希望有良好的营收增长来弥补盈利的不足。
In the last 5 years Shaanxi Aerospace Power Hi-Tech saw its revenue shrink by 22% per year. Despite the lack of revenue growth, the stock has returned a respectable 5%, compound, over that time. To us that suggests that there probably isn't a lot of correlation between the past revenue performance and the share price, but a closer look at analyst forecasts and the bottom line may well explain a lot.
在过去5年里,航天动力的营业收入每年减少22%。尽管营收没有增长,但股票在那段时间内以可观的5%复利率回报。对我们来说,这表明过去的营收表现与股价可能没有太多相关性,但仔细观察分析师预测和最终利润可能会很好地解释很多事情。
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
您可以在下方图片中看到盈利和营业收入随时间的变化(单击图表查看准确数值)。
Take a more thorough look at Shaanxi Aerospace Power Hi-Tech's financial health with this free report on its balance sheet.
通过这份免费报告,更全面地了解航天动力的财务状况。
A Different Perspective
另一种看法
We're pleased to report that Shaanxi Aerospace Power Hi-Tech shareholders have received a total shareholder return of 11% over one year. Since the one-year TSR is better than the five-year TSR (the latter coming in at 5% per year), it would seem that the stock's performance has improved in recent times. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. 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. Case in point: We've spotted 2 warning signs for Shaanxi Aerospace Power Hi-Tech you should be aware of.
我们很高兴地报告说,航天动力的股东在一年内获得了总股东回报率为11%。由于一年的TSR优于五年的TSR(后者为每年5%),似乎股票的表现最近有所提高。在最好的情况下,这可能暗示着一些真正的业务势头,这意味着现在可能是深入了解的好时机。我发现长期来看股价作为业务表现的一种替代很有趣。但要真正获得洞察力,我们也需要考虑其他信息。例如:我们发现了航天动力存在 2 个警示信号,您应该知道。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: many of them are unnoticed AND have attractive valuation).
如果您喜欢与管理层一起购买股票,那么您可能会喜欢这个公司的免费列表。 (提示:其中许多公司不为人注意且具有吸引力的估值。)
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,本文中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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Simply Wall St的这篇文章是一般性质的。我们仅基于历史数据和分析师预测提供评论,使用公正的方法,我们的文章并非意在提供财务建议。这并不构成买入或卖出任何股票的建议,并且不考虑您的目标或财务状况。我们旨在为您带来基于基础数据驱动的长期聚焦分析。请注意,我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St对提及的任何股票都没有持仓。