Edan Instruments (SZSE:300206) Sheds CN¥516m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Three Years
Edan Instruments (SZSE:300206) Sheds CN¥516m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Three Years
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But if you try your hand at stock picking, your risk returning less than the market. We regret to report that long term Edan Instruments, Inc. (SZSE:300206) shareholders have had that experience, with the share price dropping 49% in three years, versus a market decline of about 16%. And more recent buyers are having a tough time too, with a drop of 27% in the last year. Furthermore, it's down 15% in about a quarter. That's not much fun for holders.
爲了證明選擇個股的努力是合理的,值得努力超過市場指數基金的回報。但是,如果你嘗試選股,你的風險回報低於市場。我們遺憾地報告,愛丹儀器公司(深圳證券交易所股票代碼:300206)的長期股東有過這樣的經歷,股價在三年內下跌了49%,而市場跌幅約爲16%。最近的買家也遇到了艱難時期,去年下降了27%。此外,它在大約一個季度內下降了15%。對於持有者來說,這並不好玩。
With the stock having lost 8.9% in the past week, it's worth taking a look at business performance and seeing if there's any red flags.
由於該股在過去一週下跌了8.9%,值得一看業務表現,看看是否有任何危險信號。
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。
Edan Instruments saw its EPS decline at a compound rate of 25% per year, over the last three years. In comparison the 20% compound annual share price decline isn't as bad as the EPS drop-off. So, despite the prior disappointment, shareholders must have some confidence the situation will improve, longer term.
在過去三年中,Edan Instruments的每股收益複合下降幅度爲每年25%。相比之下,20%的複合年股價下跌幅度沒有每股收益的下降那麼嚴重。因此,儘管此前曾令人失望,但股東必須有一定的信心,從長遠來看,情況會有所改善。
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/7781/20240309/0-c6add33b533e98a2004135fca095c344-0-900149af7e5fc39cafe2359a1f0e9be3.png/big)
Dive deeper into Edan Instruments' key metrics by checking this interactive graph of Edan Instruments's earnings, revenue and cash flow.
查看這張埃丹儀器收益、收入和現金流的交互式圖表,深入了解愛丹儀器的關鍵指標。
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. In the case of Edan Instruments, it has a TSR of -45% for the last 3 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
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。就愛丹儀器而言,在過去三年中,其股東回報率爲-45%。這超過了我們之前提到的其股價回報率。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 the broader market lost about 15% in the twelve months, Edan Instruments shareholders did even worse, losing 26% (even including dividends). However, it could simply be that the share price has been impacted by broader market jitters. It might be worth keeping an eye on the fundamentals, in case there's a good opportunity. On the bright side, long term shareholders have made money, with a gain of 8% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. It's always interesting to track share price performance over the longer term. But to understand Edan Instruments better, we need to consider many other factors. To that end, you should be aware of the 1 warning sign we've spotted with Edan Instruments .
儘管整個市場在十二個月中下跌了約15%,但Edan Instruments的股東表現更糟,損失了26%(甚至包括股息)。但是,可能只是股價受到了更廣泛的市場緊張情緒的影響。如果有很好的機會,可能值得關注基本面。好的一面是,長期股東賺了錢,在過去的五年中,每年增長8%。如果基本面數據繼續顯示長期可持續增長,那麼當前的拋售可能是一個值得考慮的機會。長期跟蹤股價表現總是很有意思的。但是,爲了更好地了解愛登儀器,我們需要考慮許多其他因素。爲此,你應該注意我們在 Edan Instruments 上發現的 1 個警告信號。
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。