Jiangsu Guotai International Group's (SZSE:002091) Earnings Growth Rate Lags the 8.5% CAGR Delivered to Shareholders
Jiangsu Guotai International Group's (SZSE:002091) Earnings Growth Rate Lags the 8.5% CAGR Delivered to Shareholders
When we invest, we're generally looking for stocks that outperform the market average. And in our experience, buying the right stocks can give your wealth a significant boost. For example, long term Jiangsu Guotai International Group Co., Ltd. (SZSE:002091) shareholders have enjoyed a 28% share price rise over the last half decade, well in excess of the market return of around 10.0% (not including dividends).
在我們投資時,通常會尋找跑贏市場平均水平的股票。而在我們的經驗中,購買正確的股票可以顯著提高財富水平。例如,長揸江蘇國泰國際集團股份有限公司(SZSE:002091)的股東們在過去的5年中享受了28%的股價上漲,遠高於市場回報率約10.0%(不包括分紅派息)。
In light of the stock dropping 3.2% in the past week, we want to investigate the longer term story, and see if fundamentals have been the driver of the company's positive five-year return.
考慮到股票在過去一週裏下降了3.2%,我們想調查更長期的情況,看看基本面是否是該公司正面的五年回報的驅動因素。
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
雖然市場是一個強大的定價機制,但股價反映的不僅僅是企業的基本業績,還有投資者的情緒。一個不完美但簡單的方式來考慮公司市場意識的變化是比較每股收益(EPS)的變化和股價的變化。
Over half a decade, Jiangsu Guotai International Group managed to grow its earnings per share at 7.4% a year. This EPS growth is higher than the 5% average annual increase in the share price. So it seems the market isn't so enthusiastic about the stock these days. This cautious sentiment is reflected in its (fairly low) P/E ratio of 7.92.
在過去的五年中,江蘇國泰每股收益年均增長7.4%。這種EPS增長高於股價平均每年增長5%的增幅。因此,市場對這支股票的熱情似乎並不高。這種謹慎情緒反映在其(相對較低的)市盈率達7.92。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下面的圖片中查看每股收益如何隨時間變化(單擊圖表以查看確切的價值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240606/0-50fb8c31b4b268db72e2c49b5d5d7404-0-247cd1638408bfe46629cd7724ae4beb.png/big)
Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.
在購買或出售股票之前,我們始終建議對歷史增長趨勢進行仔細研究,可以在這裏找到相關信息。
What About Dividends?
那麼分紅怎麼樣呢?
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Jiangsu Guotai International Group, it has a TSR of 51% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
考慮到股票的總股東回報率和股價回報率同樣重要。TSR是一個回報計算,它考慮了現金分紅的價值(假設任何分紅收入被再投資了)以及任何折價的資本增發和剝離的計算價值。可以認爲,TSR給出了股票所產生的回報的更全面的圖片。對於江蘇國泰國際集團而言,它過去5年的TSR爲51%。這超過了我們先前提到的其股價回報。這主要是由於其分紅支付所致!
A Different Perspective
不同的觀點
While it's never nice to take a loss, Jiangsu Guotai International Group shareholders can take comfort that , including dividends,their trailing twelve month loss of 5.7% wasn't as bad as the market loss of around 9.6%. Of course, the long term returns are far more important and the good news is that over five years, the stock has returned 9% for each year. In the best case scenario the last year is just a temporary blip on the journey to a brighter future. 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. Case in point: We've spotted 2 warning signs for Jiangsu Guotai International Group you should be aware of, and 1 of them shouldn't be ignored.
儘管承受損失從未是一件好事,但江蘇國泰國際集團的股東可以安慰自己,包括分紅補償在內,其在過去12個月的虧損僅爲5.7%,而市場虧損約爲9.6%。當然,長期回報更爲重要的是好消息是,在過去五年裏,每年該股票回報率爲9%。在最好的情況下,過去一年只是通往更美好未來旅程中的暫時挫折。考慮到市場條件對股價的不同影響是很值得考慮的,但其他因素更爲重要。例如我們發現江蘇國泰國際集團有2個警示信號,您應該注意其中的1個。
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,您可能在其他地方找到一家出色的企業進行投資。因此,請查看我們預計將實現盈利增長的公司的免費列表。
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上市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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。