The Total Return for Shanghai Liangxin ElectricalLTD (SZSE:002706) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
The Total Return for Shanghai Liangxin ElectricalLTD (SZSE:002706) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
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 imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose your money. But when you pick a company that is really flourishing, you can make more than 100%. For example, the Shanghai Liangxin Electrical Co.,LTD. (SZSE:002706) share price has soared 168% in the last half decade. Most would be very happy with that. On the other hand, the stock price has retraced 3.7% in the last week.
當你購買一家公司的股票時，值得記住的是它可能會倒閉，你可能會損失你的錢。但當你選擇一家真正蓬勃發展的公司時，你可以製作超過100%。例如，上海良鑫電器有限公司。(SZSE：002706)股價在過去五年裡飆升了168%。大多數人會對此感到非常高興。另一方面，股價在過去一週回調了3.7%。
While this past week has detracted from the company's five-year return, let's look at the recent trends of the underlying business and see if the gains have been in alignment.
雖然過去一週該公司的五年回報率有所下降，但讓我們來看看基本業務的近期趨勢，看看收益是否一致。
View our latest analysis for Shanghai Liangxin ElectricalLTD
查看我們對上海良信電氣LTD的最新分析
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 imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
在他的文章中格雷厄姆和多德斯維爾的超級投資者沃倫·巴菲特描述了股價並不總是理性地反映一家企業的價值。一種不完美但簡單的方法來考慮市場對一家公司的看法是如何改變的，那就是將每股收益(EPS)的變化與股價走勢進行比較。
During five years of share price growth, Shanghai Liangxin ElectricalLTD achieved compound earnings per share (EPS) growth of 14% per year. This EPS growth is lower than the 22% average annual increase in the share price. So it's fair to assume the market has a higher opinion of the business than it did five years ago. That's not necessarily surprising considering the five-year track record of earnings growth.
在五年的股價增長中，上海良信電器有限公司實現了每股收益(EPS)年均14%的復合增長。這一每股收益增幅低於該公司股價22%的年均增幅。因此，可以公平地認為，市場對這項業務的看法比五年前更高。考慮到五年來盈利增長的記錄，這並不一定令人驚訝。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下圖中看到EPS是如何隨著時間的推移而變化的(單擊圖表可查看精確值)。
Dive deeper into Shanghai Liangxin ElectricalLTD's key metrics by checking this interactive graph of Shanghai Liangxin ElectricalLTD's earnings, revenue and cash flow.
通過查看上海良信電器有限公司收益、收入和現金流的互動圖表，更深入地瞭解上海良信電器有限公司的關鍵指標。
What About The Total Shareholder Return (TSR)?
那麼總股東回報(TSR)呢？
We've already covered Shanghai Liangxin ElectricalLTD's share price action, but we should also mention its total shareholder return (TSR). Arguably the TSR is a more complete return calculation because it accounts for the value of dividends (as if they were reinvested), along with the hypothetical value of any discounted capital that have been offered to shareholders. Shanghai Liangxin ElectricalLTD's TSR of 197% for the 5 years exceeded its share price return, because it has paid dividends.
我們已經報道了上海良信電氣股份有限公司的股價走勢，但我們還應該提到它的總股東回報(TSR)。可以說，TSR是一種更完整的回報計算方法，因為它計入了股息的價值(就像它們被再投資一樣)，以及向股東提供的任何貼現資本的假設價值。上海良信電器有限公司過去5年的TSR為197%，超過了其股價回報，因為它支付了股息。
A Different Perspective
不同的視角
While the broader market gained around 0.02% in the last year, Shanghai Liangxin ElectricalLTD shareholders lost 17%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 24% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. 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. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for Shanghai Liangxin ElectricalLTD you should know about.
儘管大盤去年上漲了約0.02%，但上海良信電子股份有限公司的股東卻下跌了17%。即使是好股票的股價有時也會下跌，但我們希望在對企業產生太大興趣之前，看到企業的基本指標有所改善。從好的方面來看，長期股東已經賺到了錢，過去五年的年回報率為24%。如果基本面數據繼續顯示長期可持續增長，當前的拋售可能是一個值得考慮的機會。我發現，把股價作為衡量企業業績的長期指標是非常有趣的。但為了真正獲得洞察力，我們還需要考慮其他資訊。例如，考慮一下風險。每家公司都有它們，我們已經發現1上海良信電氣LTD警示標誌你應該知道。
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.
如果你更願意看看另一家公司--一家財務狀況可能更好的公司--那麼不要錯過這一點免費已證明自己能夠實現盈利增長的公司名單。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
請注意，本文引用的市場回報反映了目前在中國交易所交易的股票的市場加權平均回報。
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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.
對這篇文章有什麼反饋嗎？擔心內容嗎？ 保持聯繫直接與我們聯繫.或者，也可以給編輯組發電子郵件，地址是暗示Wallst.com。
本文由Simply Wall St.撰寫，具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.