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The Five-year Underlying Earnings Growth at Shanxi Guoxin Energy (SHSE:600617) Is Promising, but the Shareholders Are Still in the Red Over That Time

The Five-year Underlying Earnings Growth at Shanxi Guoxin Energy (SHSE:600617) Is Promising, but the Shareholders Are Still in the Red Over That Time

山西國信能源(SHSE: 600617)的五年基礎收益增長令人鼓舞,但在此期間,股東仍處於虧損狀態
Simply Wall St ·  02/01 22:53

For many, the main point of investing is to generate higher returns than the overall market. But the main game is to find enough winners to more than offset the losers So we wouldn't blame long term Shanxi Guoxin Energy Corporation Limited (SHSE:600617) shareholders for doubting their decision to hold, with the stock down 26% over a half decade. Shareholders have had an even rougher run lately, with the share price down 17% in the last 90 days. But this could be related to the weak market, which is down 15% in the same period.

對於許多人來說,投資的要點是產生比整個市場更高的回報。但是主要的遊戲是找到足夠的贏家來抵消輸家。因此,我們不會責怪山西國信能源股份有限公司(SHSE: 600617)的長期股東對他們的持股決定表示懷疑,該股在五年內下跌了26%。股東們最近的表現更加艱難,股價在過去90天中下跌了17%。但這可能與疲軟的市場有關,同期市場下跌了15%。

If the past week is anything to go by, investor sentiment for Shanxi Guoxin Energy isn't positive, so let's see if there's a mismatch between fundamentals and the share price.

如果說過去一週有意義的話,投資者對山西國信能源的情緒並不樂觀,所以讓我們看看基本面和股價之間是否存在不匹配的情況。

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...' 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).

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...”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。

Shanxi Guoxin Energy 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 may better explain the share price move.

山西國信能源在過去五年內實現盈利。這通常會被視爲利好,因此我們驚訝地看到股價下跌。其他指標可以更好地解釋股價走勢。

In contrast to the share price, revenue has actually increased by 9.7% a year in the five year 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.

與股價形成鮮明對比的是,在五年期間,收入實際上每年增長9.7%。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 graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).

下圖描述了收入和收入隨時間推移而發生的變化(點擊圖片即可顯示確切的數值)。

earnings-and-revenue-growth
SHSE:600617 Earnings and Revenue Growth February 2nd 2024
SHSE: 600617 2024 年 2 月 2 日收益和收入增長

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. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here..

我們很高興地向大家報告,首席執行官的薪酬比資本狀況相似的公司的大多數首席執行官更適中。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。在買入或賣出股票之前,我們始終建議仔細研究歷史增長趨勢,請點擊此處。

A Different Perspective

不同的視角

While it's never nice to take a loss, Shanxi Guoxin Energy shareholders can take comfort that their trailing twelve month loss of 19% wasn't as bad as the market loss of around 25%. Given the total loss of 5% 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. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Shanxi Guoxin Energy (at least 1 which can't be ignored) , and understanding them should be part of your investment process.

儘管虧損從來都不是一件好事,但山西國信能源的股東們可以放心,他們過去十二個月的19%的虧損沒有25%左右的市場虧損那麼嚴重。鑑於五年內每年的總損失爲5%,在過去的十二個月中,回報似乎有所惡化。儘管羅斯柴爾德男爵確實告訴投資者 “街上有血時買入,即使血液是你自己的”,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。例如,投資風險的幽靈無處不在。我們已經確定了山西國信能源的兩個警告信號(至少有一個不容忽視),了解它們應該是您投資過程的一部分。

We will like Shanxi Guoxin Energy 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,我們會更喜歡山西國信能源。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。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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