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Tongling Nonferrous Metals GroupLtd's (SZSE:000630) Investors Will Be Pleased With Their Respectable 88% Return Over the Last Five Years

Tongling Nonferrous Metals GroupLtd's (SZSE:000630) Investors Will Be Pleased With Their Respectable 88% Return Over the Last Five Years

銅陵有色金屬集團有限公司(SZSE: 000630)的投資者將對過去五年88%的可觀回報感到滿意
Simply Wall St ·  05/21 21:10

Stock pickers are generally looking for stocks that will outperform the broader market. Buying under-rated businesses is one path to excess returns. To wit, the Tongling Nonferrous Metals GroupLtd share price has climbed 73% in five years, easily topping the market return of 15% (ignoring dividends). On the other hand, the more recent gains haven't been so impressive, with shareholders gaining just 46%, including dividends.

選股者通常在尋找表現優於大盤的股票。收購被低估的企業是獲得超額回報的一種途徑。換句話說,銅陵有色金屬集團有限公司的股價在五年內上漲了73%,輕鬆超過了15%的市場回報率(不計股息)。另一方面,最近的漲幅並不那麼令人印象深刻,股東僅增長了46%,包括股息。

Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business.

現在也值得一看公司的基本面,因爲這將有助於我們確定長期股東回報是否與基礎業務的表現相匹配。

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。

Over half a decade, Tongling Nonferrous Metals GroupLtd managed to grow its earnings per share at 23% a year. The EPS growth is more impressive than the yearly share price gain of 12% over the same period. Therefore, it seems the market has become relatively pessimistic about the company.

在過去的五年中,銅陵有色金屬集團有限公司設法將每股收益增長到每年23%。每股收益的增長比同期12%的年度股價增長更令人印象深刻。因此,市場似乎對該公司變得相對悲觀。

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
SZSE:000630 Earnings Per Share Growth May 22nd 2024
SZSE: 000630 每股收益增長 2024 年 5 月 22 日

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,首席執行官的薪水比資本相似公司的大多數首席執行官都要適中。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,可在此處查閱。

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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Tongling Nonferrous Metals GroupLtd, it has a TSR of 88% for the last 5 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!

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。因此,對於支付豐厚股息的公司來說,股東總回報率通常遠高於股價回報率。就銅陵有色金屬集團有限公司而言,其過去5年的股東回報率爲88%。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

It's nice to see that Tongling Nonferrous Metals GroupLtd shareholders have received a total shareholder return of 46% over the last year. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 13% per year), it would seem that the stock's performance has improved in recent times. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. It's always interesting to track share price performance over the longer term. But to understand Tongling Nonferrous Metals GroupLtd better, we need to consider many other factors. Consider risks, for instance. Every company has them, and we've spotted 3 warning signs for Tongling Nonferrous Metals GroupLtd you should know about.

很高興看到銅陵有色金屬集團有限公司的股東去年獲得了 46% 的總股東回報率。當然,這包括股息。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13%),因此該股的表現似乎在最近有所改善。鑑於股價勢頭仍然強勁,可能值得仔細研究該股,以免錯過機會。長期跟蹤股價表現總是很有意思的。但是,要更好地了解銅陵有色金屬集團有限公司,我們需要考慮許多其他因素。例如,考慮風險。每家公司都有它們,我們發現了你應該知道的銅陵有色金屬集團有限公司的3個警告標誌。

But note: Tongling Nonferrous Metals GroupLtd may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).

但請注意:銅陵有色金屬集團有限公司可能不是最好的買入股票。因此,來看看這份過去盈利增長(以及進一步增長預測)的有趣公司的免費清單。

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.

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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。

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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