Shenzhen Das Intellitech (SZSE:002421) Sheds CN¥360m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Five Years
Shenzhen Das Intellitech (SZSE:002421) Sheds CN¥360m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Five Years
Ideally, your overall portfolio should beat the market average. But even the best stock picker will only win with some selections. At this point some shareholders may be questioning their investment in Shenzhen Das Intellitech Co., Ltd. (SZSE:002421), since the last five years saw the share price fall 20%.
理想情況下,您的整體投資組合應超過市場平均水平。但是,即使是最好的選股者也只能通過以下方式獲勝 一些 選擇。目前,一些股東可能會質疑他們對深圳達斯智能股份有限公司(SZSE:002421)的投資,因爲在過去五年中,股價下跌了20%。
After losing 5.2% this past week, it's worth investigating the company's fundamentals to see what we can infer from past performance.
在上週下跌5.2%之後,值得調查該公司的基本面,以了解我們可以從過去的表現中推斷出什麼。
View our latest analysis for Shenzhen Das Intellitech
查看我們對深圳達斯智能科技的最新分析
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' 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.
引用巴菲特的話說:“船隻將在世界各地航行,但Flat Earth Society將蓬勃發展。市場上的價格和價值之間將繼續存在巨大差異...”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。
Shenzhen Das Intellitech became profitable within the last five years. That would generally be considered a positive, so we are surprised to see the share price is down. Other metrics might give us a better handle on how its value is changing over time.
深圳達斯智能科技在過去五年中實現了盈利。這通常會被視爲利好,因此我們驚訝地看到股價下跌。其他指標可能會讓我們更好地了解其價值如何隨着時間的推移而變化。
We don't think that the 1.9% is big factor in the share price, since it's quite small, as dividends go. Revenue is actually up 10% over the time 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.
我們認爲1.9%不是影響股價的重要因素,因爲隨着股息的增加,它相當小。在此期間,收入實際上增長了10%。對收入和收益進行更詳細的審查可能會也可能無法解釋股價下跌的原因;可能有機會。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
公司的收入和收益(隨着時間的推移)如下圖所示(點擊查看確切數字)。
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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Shenzhen Das Intellitech's TSR for the last 5 years was -17%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!
除了衡量股價回報率外,投資者還應考慮股東總回報率(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都經過再投資)以及任何貼現資本籌集和分拆的計算價值。因此,對於支付豐厚股息的公司來說,股東總回報率通常遠高於股價回報率。碰巧的是,深圳達斯智能過去5年的股東總回報率爲-17%,超過了前面提到的股價回報率。而且,猜測股息支付在很大程度上解釋了這種分歧是沒有好處的!
A Different Perspective
不同的視角
While it's never nice to take a loss, Shenzhen Das Intellitech shareholders can take comfort that , including dividends,their trailing twelve month loss of 14% wasn't as bad as the market loss of around 17%. Given the total loss of 3% per year over five years, it seems returns have deteriorated in the last twelve months. Whilst Baron Rothschild does tell the investor "buy when there's blood in the streets, even if the blood is your own", buyers would need to examine the data carefully to be comfortable that the business itself is sound. 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. To that end, you should learn about the 5 warning signs we've spotted with Shenzhen Das Intellitech (including 2 which make us uncomfortable) .
儘管虧損從來都不是一件好事,但深圳達斯智能的股東可以放心,包括股息在內,他們過去十二個月的虧損14%沒有市場損失17%左右那麼嚴重。鑑於五年內每年的總損失爲3%,在過去的十二個月中,回報率似乎有所下降。儘管羅斯柴爾德男爵確實告訴投資者 “街上有血時買入,即使血是你自己的”,但買家需要仔細檢查數據,以確定業務本身是健全的。我發現將長期股價視爲業務績效的代表非常有趣。但是,要真正獲得見解,我們還需要考慮其他信息。爲此,你應該了解我們在深圳大智智能發現的5個警告信號(包括兩個讓我們感到不舒服的警告)。
We will like Shenzhen Das Intellitech better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.
如果我們看到一些重大的內幕收購,我們會更喜歡深圳達斯智能科技。在我們等待的同時,請查看這份免費清單,列出了最近有大量內幕收購的成長型公司。
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。
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.
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。