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Xiamen C&D's (SHSE:600153) Investors Will Be Pleased With Their Respectable 43% Return Over the Last Three Years

Xiamen C&D's (SHSE:600153) Investors Will Be Pleased With Their Respectable 43% Return Over the Last Three Years

厦门建发(SHSE:600153)的投资者在过去三年中将对其43%的可观回报感到满意
Simply Wall St ·  2024/12/12 12:51

By buying an index fund, you can roughly match the market return with ease. But if you choose individual stocks with prowess, you can make superior returns. Just take a look at Xiamen C&D Inc. (SHSE:600153), which is up 18%, over three years, soundly beating the market decline of 17% (not including dividends). On the other hand, the returns haven't been quite so good recently, with shareholders up just 11%, including dividends.

通过购买指数基金,您可以轻松匹配市场回报。但如果您选择个别股票并具备能力,您可以获得更高的回报。只需看看建发股份(SHSE:600153),在过去三年中上涨了18%,远高于市场下跌17%的表现(不包括分红派息)。另一方面,最近的回报并不是很好,股东的回报仅为11%,包括分红派息。

With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.

鉴于此,值得看看该公司的基本面是否一直是长期业绩的驱动因素,或者是否存在一些不一致之处。

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. 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.

尽管市场是一个强大的定价机制,股价反映了投资者情绪,而不仅仅是基础业务表现。 通过比较每股收益(EPS)和股价的变化,我们可以感受到投资者对公司的态度是如何随时间演变的。

During the three years of share price growth, Xiamen C&D actually saw its earnings per share (EPS) drop 19% per year.

在这三年的股价增长中,建发股份的每股收益(EPS)实际上每年下降了19%。

So we doubt that the market is looking to EPS for its main judge of the company's value. Therefore, we think it's worth considering other metrics as well.

因此,我们怀疑市场是否将每股收益作为判断公司价值的主要标准。因此,我们认为值得考虑其他指标。

Interestingly, the dividend has increased over time; so that may have given the share price a boost. Sometimes yield-chasing investors will flock to a company if they think the dividend can grow over time.

有趣的是,分红派息随着时间的推移而增加;这可能推动了股价的上涨。有时,追求收益的投资者会聚集到一家公司,假如他们认为分红派息会逐渐增长。

You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).

您可以在下面的图像中查看收益和营业收入随时间的变化(点击图表查看确切值)。

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SHSE:600153 Earnings and Revenue Growth December 12th 2024
SHSE:600153 每股收益和营业收入增长 2024年12月12日

This free interactive report on Xiamen C&D's balance sheet strength is a great place to start, if you want to investigate the stock further.

这份关于建发股份资产负债表实力的免费互动报告是一个很好的起点,如果你想进一步调查这只股票。

What About Dividends?

关于分红派息的问题

It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Xiamen C&D, it has a TSR of 43% for the last 3 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!

考虑任何特定股票的总股东回报以及股价回报非常重要。总股东回报包括了任何分拆或折扣融资的价值,以及任何分红派息,基于分红派息被再投资的假设。可以公平地说,总股东回报为支付分红派息的股票提供了更全面的视图。在建发股份的案例中,过去三年其总股东回报为43%。这超出了我们之前提到的股价回报。并且,猜测分红派息很大程度上解释了二者间的差异也没有奖励!

A Different Perspective

不同的视角

Xiamen C&D provided a TSR of 11% over the last twelve months. Unfortunately this falls short of the market return. On the bright side, that's still a gain, and it's actually better than the average return of 10% over half a decade This suggests the company might be improving over time. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. To that end, you should be aware of the 3 warning signs we've spotted with Xiamen C&D .

建发股份在过去十二个月的总回报率为11%。不幸的是,这低于市场收益。好的一面是,这仍然是一个收益,其实超过了过去五年10%的平均回报。这表明该公司可能在不断改善。虽然考虑市场条件对股价的不同影响非常重要,但还有其他因素更加重要。因此,您应该注意我们发现的建发股份的三个警告信号。

If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.

如果你像我一样,那么你一定不想错过这份内部人士正在购买的被低估的小型股免费名单。

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on 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交易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.

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这篇来自Simply Wall St的文章是一般性的。我们根据历史数据和分析师预测提供评论,采用无偏见的方法,我们的文章并不旨在提供财务建议。它不构成对任何股票的买入或卖出建议,也未考虑到您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。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在提到的任何股票中均没有持仓。

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