The Total Return for JINHUI LIQUORLtd (SHSE:603919) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
The Total Return for JINHUI LIQUORLtd (SHSE:603919) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
JINHUI LIQUOR Co.,Ltd. (SHSE:603919) shareholders might be concerned after seeing the share price drop 20% in the last quarter. But that scarcely detracts from the really solid long term returns generated by the company over five years. We think most investors would be happy with the 144% return, over that period. Generally speaking the long term returns will give you a better idea of business quality than short periods can. Only time will tell if there is still too much optimism currently reflected in the share price. Unfortunately not all shareholders will have held it for five years, so spare a thought for those caught in the 39% decline over the last three years: that's a long time to wait for profits.
金輝酒業有限公司, Ltd.(上海證券交易所代碼:603919)股東在看到上個季度股價下跌20%後可能會感到擔憂。但這絲毫不影響該公司在五年內創造的真正穩健的長期回報。我們認爲,在此期間,大多數投資者會對144%的回報感到滿意。一般而言,與短期回報相比,長期回報將使您更好地了解業務質量。只有時間才能證明目前股價中是否還反映出過多的樂觀情緒。不幸的是,並非所有股東都會持有五年,因此請考慮那些在過去三年中跌幅爲39%的股東:等待獲利的時間很長。
Although JINHUI LIQUORLtd has shed CN¥370m from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.
儘管金輝酒業有限公司本週的市值下跌了3.7億元人民幣,但讓我們來看看其長期基本面趨勢,看看它們是否推動了回報。
Check out our latest analysis for JINHUI LIQUORLtd
查看我們對金輝酒業有限公司的最新分析
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. 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).
儘管一些人繼續教導高效市場假說,但事實證明,市場是反應過度的動態系統,投資者並不總是理性的。研究市場情緒如何隨着時間的推移而變化的一種方法是研究公司股價與其每股收益(EPS)之間的相互作用。
During five years of share price growth, JINHUI LIQUORLtd achieved compound earnings per share (EPS) growth of 6.3% per year. This EPS growth is lower than the 20% 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,金輝酒業實現了每年6.3%的複合每股收益(EPS)增長。每股收益的增長低於股價年均增長20%。因此,可以公平地假設市場對該業務的看法比五年前更高。考慮到五年的收益增長記錄,這並不一定令人驚訝。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下圖顯示了 EPS 在一段時間內的跟蹤情況(如果你點擊圖片,你可以看到更多細節)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240127/0-7b79bbf1149536345d96044cbb043f80-0-564e998ee2c3926e1b20b4a858d25ae1.png/big)
We know that JINHUI LIQUORLtd has improved its bottom line lately, but is it going to grow revenue? Check if analysts think JINHUI LIQUORLtd will grow revenue in the future.
我們知道金輝酒業有限公司最近提高了利潤,但它會增加收入嗎?檢查分析師是否認爲金輝酒業有限公司將來會增加收入。
What About Dividends?
分紅呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for JINHUI LIQUORLtd the TSR over the last 5 years was 158%, 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!
在考慮投資回報時,重要的是要考慮兩者之間的區別 股東總回報 (TSR) 和 股價回報。基於股息再投資的假設,股東總回報率納入了任何分拆或貼現資本籌集的價值以及任何股息。可以說,股東總回報率更全面地描述了股票產生的回報。我們注意到,金輝酒業有限公司在過去5年的股東總回報率爲158%,好於上述股價回報率。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
Although it hurts that JINHUI LIQUORLtd returned a loss of 15% in the last twelve months, the broader market was actually worse, returning a loss of 17%. Of course, the long term returns are far more important and the good news is that over five years, the stock has returned 21% for each year. In the best case scenario the last year is just a temporary blip on the journey to a brighter future. 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 - JINHUI LIQUORLtd has 1 warning sign we think you should be aware of.
儘管金輝酒業有限公司在過去十二個月中回報了15%的虧損令人痛心,但整個市場實際上更糟,回報了17%的虧損。當然,長期回報要重要得多,好消息是,在過去的五年中,該股每年的回報率爲21%。在最好的情況下,去年只是通往更光明未來之旅中的一個暫時階段。儘管市場狀況可能對股價產生的不同影響值得考慮,但還有其他因素更爲重要。例如,冒險吧——金輝酒業有限公司有 1 個我們認爲你應該注意的警告標誌。
If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.
如果你像我一樣,那麼你不會想錯過這份業內人士正在收購的成長型公司的免費名單。
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。