China Resources Double-Crane PharmaceuticalLtd's (SHSE:600062) 13% CAGR Outpaced the Company's Earnings Growth Over the Same Five-year Period
China Resources Double-Crane PharmaceuticalLtd's (SHSE:600062) 13% CAGR Outpaced the Company's Earnings Growth Over the Same Five-year Period
Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the market average. And while active stock picking involves risks (and requires diversification) it can also provide excess returns. For example, long term China Resources Double-Crane Pharmaceutical Co.,Ltd. (SHSE:600062) shareholders have enjoyed a 63% share price rise over the last half decade, well in excess of the market return of around 18% (not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 0.6% in the last year , including dividends .
一般而言,積極選股的目的是尋找回報優於市場平均水平的公司。而且,儘管主動選股涉及風險(並且需要分散投資),但它也可以提供超額回報。例如,長期的華潤雙鶴藥業有限公司, Ltd.(上海證券交易所股票代碼:600062)的股東在過去五年中股價上漲了63%,遠遠超過了約18%的市場回報率(不包括股息)。但是,最近的回報並不那麼令人印象深刻,該股去年的回報率僅爲0.6%,包括股息。
On the back of a solid 7-day performance, let's check what role the company's fundamentals have played in driving long term shareholder returns.
在連續7天表現穩健的背景下,讓我們來看看公司的基本面在推動長期股東回報方面發揮了什麼作用。
View our latest analysis for China Resources Double-Crane PharmaceuticalLtd
查看我們對華潤雙鶴藥業有限公司的最新分析
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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).
不可否認,市場有時是有效的,但價格並不總是能反映潛在的業務表現。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, China Resources Double-Crane PharmaceuticalLtd achieved compound earnings per share (EPS) growth of 5.7% per year. This EPS growth is lower than the 10% average annual increase in the share price. This suggests that market participants hold the company in higher regard, these days. That's not necessarily surprising considering the five-year track record of earnings growth.
在五年的股價增長中,華潤雙鶴製藥有限公司實現了每年5.7%的複合每股收益(EPS)增長。每股收益的增長低於股價平均年增長10%。這表明,如今,市場參與者對公司的重視程度更高。考慮到五年的收益增長記錄,這並不一定令人驚訝。
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
該公司的每股收益(隨着時間的推移)如下圖所示(點擊查看確切數字)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240131/0-300051125cfa153aa9d3003ccca8b8d5-0-c44fb4ba145491874cc13741369c76a6.png/big)
We know that China Resources Double-Crane PharmaceuticalLtd has improved its bottom line lately, but is it going to grow revenue? You could check out this free report showing analyst revenue forecasts.
我們知道華潤雙鶴製藥有限公司最近提高了利潤,但它會增加收入嗎?您可以查看這份顯示分析師收入預測的免費報告。
What About Dividends?
分紅呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. We note that for China Resources Double-Crane PharmaceuticalLtd the TSR over the last 5 years was 84%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
重要的是要考慮任何給定股票的股東總回報率和股價回報率。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。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。我們注意到,華潤雙鶴製藥有限公司在過去5年的股東總回報率爲84%,好於上述股價回報率。因此,該公司支付的股息提高了 總 股東回報。
A Different Perspective
不同的視角
We're pleased to report that China Resources Double-Crane PharmaceuticalLtd shareholders have received a total shareholder return of 0.6% over one year. And that does include the dividend. However, the TSR over five years, coming in at 13% per year, is even more impressive. The pessimistic view would be that be that the stock has its best days behind it, but on the other hand the price might simply be moderating while the business itself continues to execute. 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. For instance, we've identified 1 warning sign for China Resources Double-Crane PharmaceuticalLtd that you should be aware of.
我們很高興地向大家報告,華潤雙鶴製藥有限公司的股東在一年內獲得了0.6%的股東總回報率。這確實包括股息。但是,五年內的股東總回報率爲每年13%,更加令人印象深刻。悲觀的觀點是,該股已經過了最好的時期,但另一方面,在業務本身繼續執行的同時,價格可能只是在放緩。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。例如,我們已經確定了華潤雙鶴製藥有限公司的一個警告信號,你應該注意這一點。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
當然,通過尋找其他地方,你可能會找到一筆不錯的投資。因此,請看一下我們預計收益將增加的這份免費公司名單。
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。