The 13% Return This Week Takes Changgao Electric Group's (SZSE:002452) Shareholders Five-year Gains to 103%
The 13% Return This Week Takes Changgao Electric Group's (SZSE:002452) Shareholders Five-year Gains to 103%
Stock pickers are generally looking for stocks that will outperform the broader market. And the truth is, you can make significant gains if you buy good quality businesses at the right price. To wit, the Changgao Electric Group share price has climbed 94% in five years, easily topping the market return of 4.4% (ignoring dividends). On the other hand, the more recent gains haven't been so impressive, with shareholders gaining just 13%, including dividends.
股票挑選者通常尋找能跑贏整個市場的股票。而事實是,如果你能在正確的價格買入高質量的企業,你將會獲得顯著的收益。實際上,長高電新的股價在過去5年中上漲了94%,遠超過市場回報率4.4%(不計分紅派息) 。另一方面,最近的收益並不是很理想,包括分紅派息在內,股東只獲得了13%的收益。
The past week has proven to be lucrative for Changgao Electric Group investors, so let's see if fundamentals drove the company's five-year performance.
過去一週對於長高電新的投資者來說證明了收益豐厚,讓我們來看看基本面是否推動了公司的5年表現。
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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.
在他的文章《格雷厄姆和多德斯維爾超級投資者》中,禾倫·巴菲特描述了股票價格並不總是反映公司價值的合理方式。考慮市場對公司的看法如何發生變化的一個不完美但簡單的方法是將每股收益(EPS)的變化與股價的變動進行比較。股票價格並不總是反映公司價值的合理方式禾倫·巴菲特描述了股票價格並不總是理性反映企業價值的情況。通過比較每股收益(EPS)和股價隨時間的變化,我們可以了解投資者對公司的態度如何隨着時間而變化。
During the last half decade, Changgao Electric Group became profitable. That would generally be considered a positive, so we'd hope to see the share price to rise.
在過去的半個世紀裏,長高電新開始獲利,這通常被認爲是一個積極信號,因此我們希望看到股價上漲。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
下面可以看到每股收益隨時間的變化情況(通過點擊圖像來查看確切數值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240618/0-bb4d3fc302ec8be08b5e1ff46f6b8acc-0-54eace1bfbd567816416d5485f06d562.png/big)
It's probably worth noting that the CEO is paid less than the median at similar sized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. It might be well worthwhile taking a look at our free report on Changgao Electric Group's earnings, revenue and cash flow.
值得注意的是,該公司的CEO的薪酬低於同類規模公司的中位數。但是,雖然CEO的報酬值得檢查,但真正重要的問題是公司是否能夠持續增長利潤。查看我們關於長高電新的收益、營業收入和現金流的免費報告可能非常有價值。
What About Dividends?
那麼分紅怎麼樣呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Changgao Electric Group's TSR for the last 5 years was 103%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
在考慮投資回報時,重要的是考慮總股東回報(TSR)和股票回報之間的差異。 TSR包括任何剝離或折讓的資本籌集(基於股息被重新投資的假設),以及任何股息。因此,對於支付慷慨的股息公司而言,TSR通常比股票回報高得多。就中國神威藥業集團而言,其TSR在過去5年中達到了75%。這超過了我們之前提到的股票回報。該公司支付的股息已經提高了總股東回報。總股東回報和股票回報股價回報僅反映了股價的變化,而TSR包括了紅利值(假設它們已經再投資)和任何折扣的資本籌集或分拆的好處。所以,對於支付豐厚紅利的公司來說,TSR通常比股價回報高得多。恰巧,長高電新在過去5年的TSR爲103%,超過了之前提到的股價回報。這主要是由於其分紅派息!
A Different Perspective
不同的觀點
We're pleased to report that Changgao Electric Group shareholders have received a total shareholder return of 13% over one year. That's including the dividend. However, that falls short of the 15% TSR per annum it has made for shareholders, each year, over five years. 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. Take risks, for example - Changgao Electric Group has 1 warning sign we think you should be aware of.
我們很高興地報告,長高電新的股東在一年內獲得了總股東回報率爲13%。包括分紅派息在內。然而,與每年爲股東實現的15%的TSR相比,在過去五年中表現不佳。我發現長期股價作爲業務表現的代理非常有趣。但爲了真正獲得洞察力,我們還需要考慮其他信息。例如,承擔風險-長高電新存在1個警示標誌,我們認爲你需要知道。
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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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