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Strong Week for Legend Holdings (HKG:3396) Shareholders Doesn't Alleviate Pain of Five-year Loss

Strong Week for Legend Holdings (HKG:3396) Shareholders Doesn't Alleviate Pain of Five-year Loss

联想控股(香港交易所代码:3396)股东在强劲的一周后,五年损失的痛苦并未减轻
Simply Wall St ·  2024/12/28 07:08

Legend Holdings Corporation (HKG:3396) shareholders should be happy to see the share price up 26% in the last quarter. But over the last half decade, the stock has not performed well. You would have done a lot better buying an index fund, since the stock has dropped 52% in that half decade.

联想控股有限公司(HKG:3396)的股东应该对股价在上个季度上涨26%感到高兴。但是在过去的五年中,这只股票的表现不佳。在这五年中,购买指数基金会更有利可图,因为该股票下跌了52%。

Although the past week has been more reassuring for shareholders, they're still in the red over the last five years, so let's see if the underlying business has been responsible for the decline.

尽管过去一周对股东来说更让人放心,但在过去五年内,他们的表现依然不佳,所以让我们看看基本业务是否导致了这种下滑。

In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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).

在他的文章《Graham与Doddsville的超级投资者》中,沃伦·巴菲特描述了股价并不总是理性地反映业务的价值。检查市场情绪随时间变化的一种方法是观察公司的股价与每股收益(EPS)之间的互动。

Legend Holdings has made a profit in the past. However, it made a loss in the last twelve months, suggesting profit may be an unreliable metric at this stage. Other metrics might give us a better handle on how its value is changing over time.

联想控股过去曾盈利。然而,它在过去的十二个月里亏损,这表明盈利可能在这个阶段并不是一个可靠的指标。其他指标可能能更好地帮助我们了解其价值随时间的变化。

In contrast to the share price, revenue has actually increased by 4.1% a year in the five year period. A more detailed examination of the revenue and earnings may or may not explain why the share price languishes; there could be an opportunity.

与股价相比,营业收入在五年期间实际上每年增长了4.1%。对营业收入和收益的更详细分析可能会解释为什么股价疲软;可能存在机会。

You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).

您可以在下面看到盈利和营业收入随时间的变化(通过点击图片发现确切值)。

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SEHK:3396 Earnings and Revenue Growth December 27th 2024
香港证券交易所:3396 盈利与收入增长 2024年12月27日

Take a more thorough look at Legend Holdings' financial health with this free report on its balance sheet.

通过这份免费的财务报告,更深入了解传奇控股的财务健康状况。

What About The Total Shareholder Return (TSR)?

那么,股东总回报(TSR)呢?

We've already covered Legend Holdings' share price action, but we should also mention its total shareholder return (TSR). 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. Legend Holdings' TSR of was a loss of 44% for the 5 years. That wasn't as bad as its share price return, because it has paid dividends.

我们已经讨论了传奇控股的股价情况,但也应该提到它的总股东回报(TSR)。TSR是一种回报计算,考虑了现金分红的价值(假设收到的任何分红都被再投资)和任何折价融资及分拆的计算值。传奇控股的TSR在5年内亏损了44%。这并没有比它的股价回报差,因为它支付了分红。

A Different Perspective

不同的视角

Legend Holdings shareholders gained a total return of 15% during the year. But that was short of the market average. But at least that's still a gain! Over five years the TSR has been a reduction of 8% per year, over five years. It could well be that the business is stabilizing. 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. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for Legend Holdings you should know about.

联想控股的股东在这一年中获得了15%的总回报。但这低于市场平均水平。不过至少这还是一个收益!在过去五年中,总回报率每年减少8%。这可能表明业务正在趋于稳定。虽然考虑市场条件对股价的不同影响是非常重要的,但还有其他因素更加关键。比如风险。每家公司都有风险,而我们发现了联想控股的一个警告信号,你应该了解。

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).

如果你喜欢与管理层一起买入股票,那么你可能会喜欢这个免费的公司名单。(提示:很多公司鲜为人知,而且估值吸引。)

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,本文中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。

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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