Investors More Bullish on New East New Materials (SHSE:603110) This Week as Stock Rises 7.6%, Despite Earnings Trending Downwards Over Past Five Years
Investors More Bullish on New East New Materials (SHSE:603110) This Week as Stock Rises 7.6%, Despite Earnings Trending Downwards Over Past Five Years
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But when you pick a company that is really flourishing, you can make more than 100%. For example, the New East New Materials Co., Ltd (SHSE:603110) share price has soared 298% in the last half decade. Most would be very happy with that. It's also good to see the share price up 27% over the last quarter.
在買入公司股票(假設沒有槓桿作用)之後,最糟糕的結果是你損失了所有投入的錢。但是,當你選擇一家真正蓬勃發展的公司時,你可以 使 超過 100%。例如,新東方新材料有限公司(SHSE:603110)的股價在過去五年中飆升了298%。大多數人會對此感到非常滿意。很高興看到股價在上個季度上漲了27%。
After a strong gain in the past week, it's worth seeing if longer term returns have been driven by improving fundamentals.
在過去一週強勁上漲之後,值得一看的是長期回報是否是由基本面改善推動的。
See our latest analysis for New East New Materials
查看我們對新東方新材料的最新分析
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. 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.
在他的文章中 格雷厄姆和多茲維爾的超級投資者 沃倫·巴菲特描述了股價如何並不總是合理地反映企業的價值。通過比較每股收益(EPS)和一段時間內的股價變化,我們可以了解投資者對公司的態度是如何隨着時間的推移而變化的。
New East New Materials' earnings per share are down 14% per year, despite strong share price performance over five years.
儘管五年來股價表現強勁,但新東新材料的每股收益每年下降14%。
Essentially, it doesn't seem likely that investors are focused on EPS. Because earnings per share don't seem to match up with the share price, we'll take a look at other metrics instead.
從本質上講,投資者似乎不太可能將注意力集中在每股收益上。由於每股收益似乎與股價不符,因此我們將改用其他指標。
The modest 0.5% dividend yield is unlikely to be propping up the share price. We are not particularly impressed by the annual compound revenue growth of 0.8% over five years. So why is the share price up? It's not immediately obvious to us, but a closer look at the company's progress over time might yield answers.
0.5%的適度股息收益率不太可能支撐股價。五年內0.8%的年複合收入增長並沒有給我們留下特別深刻的印象。那麼爲什麼股價上漲呢?這對我們來說並不明顯,但仔細觀察公司隨着時間的推移可能會得出答案。
The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).
下圖顯示了收入和收入隨時間推移的跟蹤情況(如果您點擊圖片,可以看到更多細節)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231204/0-b6abca2a2807a10da2cf488b6085a760-0-0c7f91b1a13651d2d6a00810110bba50.png/big)
You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.
您可以在這張免費的交互式圖片中看到其資產負債表如何隨着時間的推移而增強(或減弱)。
What About Dividends?
分紅呢?
As well as measuring the share price return, investors should also consider the 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, New East New Materials' TSR for the last 5 years was 323%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
除了衡量股價回報外,投資者還應考慮股東總回報(TSR)。股東總回報率是一種回報計算方法,它考慮了現金分紅的價值(假設收到的任何股息已被再投資)以及任何貼現資本籌集和分拆的計算價值。可以公平地說,股東總回報率爲支付股息的股票提供了更完整的畫面。碰巧的是,新東方新材料在過去5年的股東總回報率爲323%,超過了前面提到的股價回報率。這在很大程度上是其股息支付的結果!
A Different Perspective
不同的視角
While the broader market lost about 6.7% in the twelve months, New East New Materials shareholders did even worse, losing 11% (even including dividends). However, it could simply be that the share price has been impacted by broader market jitters. It might be worth keeping an eye on the fundamentals, in case there's a good opportunity. Longer term investors wouldn't be so upset, since they would have made 33%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. 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. Take risks, for example - New East New Materials has 3 warning signs (and 2 which don't sit too well with us) we think you should know about.
儘管大盤在過去十二個月中下跌了約6.7%,但新東新材料股東的表現更差,下跌了11%(甚至包括股息)。但是,可能僅僅是股價受到了更廣泛的市場緊張情緒的影響。如果有很好的機會,可能值得關注基本面。長期投資者不會那麼沮喪,因爲他們本可以在五年內每年獲得33%的收入。如果基本面數據繼續顯示長期可持續增長,那麼當前的拋售可能是一個值得考慮的機會。儘管值得考慮市場狀況可能對股價產生的不同影響,但還有其他因素更爲重要。舉個風險爲例,我們認爲你應該知道新東方新材料有3個警告標誌(還有2個對我們來說不太合適)。
But note: New East New Materials may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
但請注意:新東方新材料可能不是最值得買入的股票。因此,來看看這份包含過去盈利增長(以及進一步增長預測)的有趣公司的免費名單吧。
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.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。