Inner Mongolia MengDian HuaNeng Thermal Power's (SHSE:600863) 26% CAGR Outpaced the Company's Earnings Growth Over the Same Three-year Period
Inner Mongolia MengDian HuaNeng Thermal Power's (SHSE:600863) 26% CAGR Outpaced the Company's Earnings Growth Over the Same Three-year Period
By buying an index fund, you can roughly match the market return with ease. But many of us dare to dream of bigger returns, and build a portfolio ourselves. For example, Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited (SHSE:600863) shareholders have seen the share price rise 78% over three years, well in excess of the market decline (26%, not including dividends). On the other hand, the returns haven't been quite so good recently, with shareholders up just 22% , including dividends .
通過購買指數基金,您可以輕鬆地大致匹配市場回報。但是我們中的許多人敢於夢想獲得更大的回報,並自己建立投資組合。例如,內蒙古蒙電華能熱電股份有限公司(SHSE: 600863)股東的股價在三年內上漲了78%,遠遠超過了市場跌幅(26%,不包括股息)。另一方面,最近的回報並不那麼好,股東僅增長了22%,包括股息。
The past week has proven to be lucrative for Inner Mongolia MengDian HuaNeng Thermal Power investors, so let's see if fundamentals drove the company's three-year performance.
事實證明,過去一週對內蒙古蒙電華能熱電的投資者來說是有利可圖的,所以讓我們看看基本面是否推動了該公司的三年業績。
Check out our latest analysis for Inner Mongolia MengDian HuaNeng Thermal Power
查看我們對內蒙古蒙古蒙電華能熱電的最新分析
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. 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.
用本傑明·格雷厄姆的話來說:從短期來看,市場是一臺投票機器,但從長遠來看,它是一臺稱重機。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。
Inner Mongolia MengDian HuaNeng Thermal Power was able to grow its EPS at 27% per year over three years, sending the share price higher. The average annual share price increase of 21% is actually lower than the EPS growth. Therefore, it seems the market has moderated its expectations for growth, somewhat. We'd venture the lowish P/E ratio of 11.81 also reflects the negative sentiment around the stock.
內蒙古蒙電華能熱電得以在三年內以每年 27% 的速度增長每股收益,推動股價上漲。21%的年平均股價漲幅實際上低於每股收益的增長。因此,市場似乎在某種程度上放緩了對增長的預期。我們認爲,11.81的低市盈率也反映了該股的負面情緒。
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 隨時間推移的變化(點擊圖表查看確切值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240128/0-75261ec987cf92b94cc99420b38805a4-0-379caaa7310248b5eca0659c385180cc.png/big)
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. This free interactive report on Inner Mongolia MengDian HuaNeng Thermal Power's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
我們很高興地向大家報告,首席執行官的薪酬比資本相似公司的大多數首席執行官要低得多。但是,儘管首席執行官的薪酬總是值得檢查的,但真正重要的問題是公司未來能否增加收益。如果你想進一步調查內蒙古蒙電華能熱電的收益、收入和現金流,這份關於內蒙古蒙電華能熱電的收益、收入和現金流的免費互動報告是一個很好的起點。
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 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. As it happens, Inner Mongolia MengDian HuaNeng Thermal Power's TSR for the last 3 years was 101%, 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)。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。碰巧的是,內蒙古蒙電華能熱電過去3年的股東總回報率爲101%,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
It's nice to see that Inner Mongolia MengDian HuaNeng Thermal Power shareholders have received a total shareholder return of 22% over the last year. And that does include the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 16% per year), it would seem that the stock's performance has improved in recent times. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. 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 2 warning signs with Inner Mongolia MengDian HuaNeng Thermal Power , and understanding them should be part of your investment process.
很高興看到內蒙古蒙電華能熱電股東去年獲得了 22% 的股東總回報率。這確實包括股息。由於一年期股東總回報率好於五年期股東總回報率(後者爲每年16%),因此該股的表現似乎在最近有所改善。在最好的情況下,這可能暗示着一些真正的業務勢頭,這意味着現在可能是深入研究的好時機。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,投資風險的幽靈無處不在。我們已經向內蒙古蒙電華能熱電確定了兩個警告信號,了解它們應該是您投資過程的一部分。
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.
如果你想看看另一家公司——一家財務狀況可能優異的公司——那麼千萬不要錯過這份已經證明自己可以增加收益的公司的免費名單。
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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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。