Tasly Pharmaceutical Group (SHSE:600535) Shareholders Have Endured a 17% Loss From Investing in the Stock Five Years Ago
Tasly Pharmaceutical Group (SHSE:600535) Shareholders Have Endured a 17% Loss From Investing in the Stock Five Years Ago
The main aim of stock picking is to find the market-beating stocks. But in any portfolio, there will be mixed results between individual stocks. So we wouldn't blame long term Tasly Pharmaceutical Group Co., Ltd (SHSE:600535) shareholders for doubting their decision to hold, with the stock down 27% over a half decade. Furthermore, it's down 24% in about a quarter. That's not much fun for holders.
股票投資的主要目標是找到市場中超越表現的股票。但是在任何投資組合中,單個股票的表現都會有所不同。因此,在過去的五年中,天士力製藥股份有限公司(SHSE:600535)的股份已經下跌了27%,我們不會怪長揸者對他們的持股決定產生懷疑。此外,它在約一個季度中下跌了24%,持有者並不開心。
It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that.
值得評估公司的經濟狀況是否與這些不盡如人意的股東回報同時發展並步調一致,或者兩者之間是否存在差異。因此,讓我們來看看。
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 flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
雖然一些人仍然在教授高效市場假說,但已經證明市場是過度反應的動態系統,投資者不總是理性的。一種有缺陷但合理的評估公司情緒變化的方法是比較每股收益 (EPS) 與股價。
During the five years over which the share price declined, Tasly Pharmaceutical Group's earnings per share (EPS) dropped by 7.2% each year. This change in EPS is reasonably close to the 6% average annual decrease in the share price. This suggests that market participants have not changed their view of the company all that much. Rather, the share price has approximately tracked EPS growth.
在股票價格下降的五年期間,天士力每股收益降低了7.2%每年。 這種EPS變化與股票價格平均每年下降6%相當接近。 這表明市場參與者沒有太多改變對該公司的看法。 股價大致跟蹤EPS增長。
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/7781/20240705/0-bd234c980789e1bed368d0f4e67661d0-0-2d735b0a4a58323cb744c3efd4613d80.png/big)
We know that Tasly Pharmaceutical Group has improved its bottom line lately, but is it going to grow revenue? Check if analysts think Tasly Pharmaceutical Group will grow revenue in the future.
我們知道天士力製藥集團近期已經改善了底線,但它會增長營業收入嗎?請檢查分析師是否認爲天士力製藥集團將來會增長營業收入。
What About Dividends?
那麼分紅怎麼樣呢?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. We note that for Tasly Pharmaceutical Group the TSR over the last 5 years was -17%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
除了衡量股票價格回報外,投資者還應考慮總股東回報(TSR)。TSR是一種回報計算方式,考慮到現金分紅的價值(假設任何所得股息已經被再投資)以及任何優惠資本增發和股權分置計算出的價值。可以說TSR爲支付股息的股票提供了更完整的圖片。我們注意到,在過去的5年中,天士力製藥集團的TSR爲-17%,要比上述股票價格回報好。公司支付的股息爲股東帶來了分紅派息。總股東回報。
A Different Perspective
不同的觀點
While it's certainly disappointing to see that Tasly Pharmaceutical Group shares lost 7.1% throughout the year, that wasn't as bad as the market loss of 17%. Given the total loss of 3% per year over five years, it seems returns have deteriorated in the last twelve months. Whilst Baron Rothschild does tell the investor "buy when there's blood in the streets, even if the blood is your own", buyers would need to examine the data carefully to be comfortable that the business itself is sound. It's always interesting to track share price performance over the longer term. But to understand Tasly Pharmaceutical Group better, we need to consider many other factors. Case in point: We've spotted 1 warning sign for Tasly Pharmaceutical Group you should be aware of.
雖然一整年內天士力藥業集團股票下跌了7.1%,但市場跌幅僅爲17%,這當然令人失望。在過去的五年中,平均每年虧損3%,看起來回報率在過去12個月裏逐漸下降。儘管巴倫·羅斯柴爾德告訴投資者“當街上有血時要買入,即使血是自己的”,但買家需要仔細檢查數據,以確保業務本身健康。長期追蹤股價表現總是很有趣的,但要更好地了解天士力藥業集團,我們需要考慮許多其他因素。問題在於:我們已經發現天士力藥業集團的一個警告信號,您應該意識到。
We will like Tasly Pharmaceutical Group better if we see some big insider buys. While we wait, check out this free list of undervalued stocks (mostly small caps) with considerable, recent, insider buying.
如果我們看到一些內部人員的大量買入股票,我們會更喜歡天士力製藥集團。與此同時,請查看這個自由的被低估股票列表(主要是小盤股),其中有相當多的近期內部購買。
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
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,也可以發送電子郵件至editorial-team@simplywallst.com