Despite the Downward Trend in Earnings at TVZone Media (SHSE:603721) the Stock Spikes 20%, Bringing Five-year Gains to 60%
Despite the Downward Trend in Earnings at TVZone Media (SHSE:603721) the Stock Spikes 20%, Bringing Five-year Gains to 60%
Stock pickers are generally looking for stocks that will outperform the broader market. And while active stock picking involves risks (and requires diversification) it can also provide excess returns. For example, the TVZone Media Co., Ltd. (SHSE:603721) share price is up 56% in the last 5 years, clearly besting the market return of around 31% (ignoring dividends). On the other hand, the more recent gains haven't been so impressive, with shareholders gaining just 40% , including dividends .
選股人士一般都在尋找表現好於大盤的股票。雖然主動選股會帶來風險(並需要分散投資),但它也可以提供超額回報。例如,TVZone傳媒有限公司。(上海證券交易所:603721)股價在過去5年中上漲了56%,顯然超過了約31%的市場回報率(不計股息)。另一方面,最近的漲幅沒有那麼令人印象深刻,包括股息在內,股東只獲得了40%的收益。
The past week has proven to be lucrative for TVZone Media investors, so let's see if fundamentals drove the company's five-year performance.
事實證明,過去一週對TVZone Media投資者來說是有利可圖的,所以讓我們看看基本面因素是否推動了該公司五年的業績。
View our latest analysis for TVZone Media
查看我們對TVZone Media的最新分析
We don't think that TVZone Media's modest trailing twelve month profit has the market's full attention at the moment. We think revenue is probably a better guide. As a general rule, we think this kind of company is more comparable to loss-making stocks, since the actual profit is so low. It would be hard to believe in a more profitable future without growing revenues.
我們不認為TVZone Media在過去12個月中的適度盈利得到了市場的充分關注。我們認為收入可能是更好的指引。一般來說,我們認為這類公司更類似於虧損股票,因為實際利潤如此之低。如果沒有不斷增長的收入,很難相信未來會有更有利可圖的未來。
In the last 5 years TVZone Media saw its revenue shrink by 7.1% per year. Despite the lack of revenue growth, the stock has returned a respectable 9%, 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.
在過去的5年裡,TVZone Media的收入每年縮水7.1%。儘管收入沒有增長,但在此期間,該股的復合回報率達到了可觀的9%。對我們來說,這表明過去的營收表現和股價之間可能沒有太大的相關性,但仔細看看分析師的預測和利潤可能會解釋很多事情。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
該公司的收入和收益(隨著時間的推移)如下圖所示(點擊查看具體數位)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231031/0-582afc2f601213ac7a78415d6073fa40-0-9562da18dbfb72ca188c85bc6412c92a.png/big)
Balance sheet strength is crucial. It might be well worthwhile taking a look at our free report on how its financial position has changed over time.
資產負債表的強健至關重要。也許很值得一看我們的免費報告其財務狀況如何隨著時間的推移而發生變化。
What About Dividends?
那股息呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for TVZone Media the TSR over the last 5 years was 60%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!
重要的是要考慮任何給定股票的總股東回報以及股價回報。雖然股價回報只反映股價的變動,但TSR包括股息的價值(假設股息再投資),以及任何折價集資或分拆所帶來的利益。公平地說,TSR為支付股息的股票提供了更完整的圖景。我們注意到,TVZone Media過去5年的TSR為60%,好於上述股價回報。而且,猜測股息支付在很大程度上解釋了這種差異是沒有好處的!
A Different Perspective
不同的視角
It's good to see that TVZone Media has rewarded shareholders with a total shareholder return of 40% in the last twelve months. That's including the dividend. That gain is better than the annual TSR over five years, which is 10%. Therefore it seems like sentiment around the company has been positive lately. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. 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 for instance, the ever-present spectre of investment risk. We've identified 5 warning signs with TVZone Media (at least 3 which are concerning) , and understanding them should be part of your investment process.
很高興看到TVZone Media在過去的12個月裡回報了股東40%的總回報。這還包括股息。這一收益好於五年內的年度TSR,後者為10%。因此,最近圍繞該公司的情緒似乎一直是積極的。鑑於股價勢頭依然強勁,仔細觀察這只股票可能是值得的,以免錯過預期和機會。雖然值得考慮市場狀況對股價可能產生的不同影響,但還有其他更重要的因素。例如,考慮一下無處不在的投資風險幽靈。我們已經確定了5個警告信號與TVZone Media合作(至少有3個相關),瞭解他們應該是你投資過程的一部分。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).
如果你喜歡和管理層一起買股票,那麼你可能會喜歡這本書免費公司名單.(提示:內部人士一直在買入這些股票)。
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.