China Merchants Shekou Industrial Zone Holdings (SZSE:001979) Stock Falls 8.5% in Past Week as Five-year Earnings and Shareholder Returns Continue Downward Trend
China Merchants Shekou Industrial Zone Holdings (SZSE:001979) Stock Falls 8.5% in Past Week as Five-year Earnings and Shareholder Returns Continue Downward Trend
For many, the main point of investing is to generate higher returns than the overall market. But in any portfolio, there will be mixed results between individual stocks. At this point some shareholders may be questioning their investment in China Merchants Shekou Industrial Zone Holdings Co., Ltd. (SZSE:001979), since the last five years saw the share price fall 56%. And it's not just long term holders hurting, because the stock is down 29% in the last year. Even worse, it's down 9.0% in about a month, which isn't fun at all. But this could be related to poor market conditions -- stocks are down 4.5% in the same time.
對於很多人來說,投資的主要目的是比整個市場獲得更高的回報。但在任何組合中,個別股票之間的結果是不同的。目前,一些股東可能會質疑他們對招商蛇口的投資,因爲過去五年內的股價下跌了56%。並且不僅是長期股東,因爲該股去年下跌了29%。更糟糕的是,一個月前下跌了9%,這一點也不有樂趣。但這可能與市場條件不佳有關 - 在同一時間,股市下跌了4.5%。
Given the past week has been tough on shareholders, let's investigate the fundamentals and see what we can learn.
考慮到過去一週對股東來說是艱難的,讓我們調查一下基本面並看看我們能學到什麼。
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,“船隻會在世界各地航行,但扁平地球協會將空前盛行。市場上的價格和價值將繼續存在巨大差異… ”檢查市場情緒如何隨時間變化的一種方法是查看公司的股價與每股收益(EPS)之間的互動。
Looking back five years, both China Merchants Shekou Industrial Zone Holdings' share price and EPS declined; the latter at a rate of 14% per year. This change in EPS is remarkably close to the 15% average annual decrease in the share price. This implies that the market has had a fairly steady view of the stock. Rather, the share price has approximately tracked EPS growth.
回顧五年,招商蛇口的股價和每股收益都下降了;後者的降幅爲每年14%。這種EPS的變化與股價每年降低15%的平均值非常接近。這意味着市場對該股持有相當穩定的觀點。股價幾乎跟蹤EPS的增長。
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/7781/20240625/0-17d30f20c9ed69a5227e675e05fa9b57-0-df59bf5d6f762941544cc1b292e11691.png/big)
We know that China Merchants Shekou Industrial Zone Holdings has improved its bottom line lately, but is it going to grow revenue? You could check out this free report showing analyst revenue forecasts.
我們知道,招商蛇口最近改善了其底線,但它是否會增長營業收入?您可以查看此免費報告,顯示分析師的營收預測。
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. 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 China Merchants Shekou Industrial Zone Holdings, it has a TSR of -47% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.
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TSR將股息再投資的假設價值合併了任何剝離或折價融資,以及任何股息。因此,對於支付豐厚股息的公司,TSR通常要比股票回報率高得多。就招商蛇口而言,它在過去的5年中的TSR爲-47%。這超過了我們之前提到的股價回報。公司支付的股息因此提高了其總股東回報。
A Different Perspective
不同的觀點
We regret to report that China Merchants Shekou Industrial Zone Holdings shareholders are down 29% for the year (even including dividends). Unfortunately, that's worse than the broader market decline of 14%. Having said that, it's inevitable that some stocks will be oversold in a falling market. The key is to keep your eyes on the fundamental developments. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 8% per year over five years. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. 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. Take risks, for example - China Merchants Shekou Industrial Zone Holdings has 3 warning signs (and 1 which is significant) we think you should know about.
我們很遺憾地報告說,招商蛇口的股東今年下跌了29%(包括股息)。不幸的是,這比整個市場下跌14%還要糟糕。話雖如此,在下跌的市場中,一些股票被超賣是不可避免的。關鍵是關注基本面的發展。不幸的是,去年的表現爲五年來每年面對8%的總損失劃上了句號。我們意識到,巴隆·羅斯柴爾德曾說過投資者應當“在街上有血時買進”,但我們提醒投資者首先確保自己在買入高質量的企業。雖然考慮市場條件對股價可能產生的不同影響是完全值得的,但還有其他更重要的因素。例如:風險 - 我們認爲,招商蛇口存在3個警告信號(其中1個相當重要)是您應該知道的。
If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.
如果您像我一樣,就不會希望錯過這份免費的內部人士正在購買的低估小市值股票列表。
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。
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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,發送電子郵件至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
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。