The Three-year Returns for Jinduicheng Molybdenum's (SHSE:601958) Shareholders Have Been Decent, yet Its Earnings Growth Was Even Better
The Three-year Returns for Jinduicheng Molybdenum's (SHSE:601958) Shareholders Have Been Decent, yet Its Earnings Growth Was Even Better
By buying an index fund, investors can approximate the average market return. But if you choose individual stocks with prowess, you can make superior returns. For example, Jinduicheng Molybdenum Co., Ltd. (SHSE:601958) shareholders have seen the share price rise 61% over three years, well in excess of the market decline (30%, not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 1.7% in the last year, including dividends.
通過購買指數基金,投資者可以近似獲得平均市場回報。但是,如果您選擇具有實力的個股,您可以獲得更高的回報。例如,金鉬股份有限公司(SHSE:601958)的股東已經看到股價上漲了61%,超過了市場下跌(30%,不包括分紅)。但是,最近的回報並不如此令人印象深刻,該股票在過去一年中僅回報了1.7%,包括分紅。
Since it's been a strong week for Jinduicheng Molybdenum shareholders, let's have a look at trend of the longer term fundamentals.
既然金鉬股份的股東這一週表現強勁,讓我們來看看較長期基本面的趨勢。
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...' 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.
引用巴菲特的話順便說一下,“船隻將環遊世界,但支持地球平面學會的人將大有可爲。 在市場上,價格和價值之間將繼續存在巨大的差異...”通過比較EPS和股價變化,我們可以了解到投資者對公司的態度隨時間的變化程度。
During three years of share price growth, Jinduicheng Molybdenum achieved compound earnings per share growth of 114% per year. The average annual share price increase of 17% is actually lower than the EPS growth. So one could reasonably conclude that the market has cooled on the stock. We'd venture the lowish P/E ratio of 11.63 also reflects the negative sentiment around the stock.
在股價增長的三年內,金鉬股份實現了每年114%的複合每股收益增長。17%的年均股價上漲實際上低於EPS的增長。因此,人們可以合理地得出結論,市場對該股票冷淡了。我們認爲11.63的相對較低的市盈率也反映了對該股票的負面情緒。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下圖顯示了EPS隨時間的變化情況(如果您單擊該圖像,則可以查看更多詳細信息)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240716/0-2202ce1501e2a9d5a15a81ba296caa47-0-fc6e7e071f14197ccf23e04d2a3ce18a.png/big)
It's probably worth noting that the CEO is paid less than the median at similar sized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. This free interactive report on Jinduicheng Molybdenum's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
值得注意的是,該公司的CEO的薪酬低於同等規模公司的中位數。關注CEO的薪酬總是值得的,但更重要的問題是公司是否會在未來增長收益。如果您想進一步調查股票,Jinduicheng Molybdenum的收益,營收和現金流的自由互動報告是一個很好的起點。
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 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 Jinduicheng Molybdenum, it has a TSR of 74% for the last 3 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,重要的是要考慮總體股東回報(TSR)和股價回報之間的差異。 TSR是一種回報計算,考慮了現金股息的價值(假設任何收到的股息都被再投資),以及任何折價的資本增發和股權分割的計算價值。可以說,TSR給出了一份更全面的股票回報圖片。在金鉬股份的情況下,它在過去3年中的TSR爲74%。這超過了我們之前提到的股價回報。而且可以猜到,股息支付在很大程度上解釋了這種差異!
A Different Perspective
不同的觀點
We're pleased to report that Jinduicheng Molybdenum shareholders have received a total shareholder return of 1.7% over one year. That's including the dividend. Having said that, the five-year TSR of 14% a year, is even better. Potential buyers might understandably feel they've missed the opportunity, but it's always possible business is still firing on all cylinders. 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. To that end, you should be aware of the 1 warning sign we've spotted with Jinduicheng Molybdenum .
我們很高興報告金鉬股份的股東在過去一年中獲得了總股東回報率1.7%。其中包括股息。話雖如此,由於五年TSR爲14%,買家可能會認爲他們已經錯過了機會,但業務仍然有可能全速前進。我認爲長期股價作爲業務績效的代理非常有趣。但是要真正獲得見解,我們還需要考慮其他信息。爲此,您應該了解我們在Jinduicheng Molybdenum中發現的1個警告標誌。
But note: Jinduicheng Molybdenum 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:金鉬股份可能不是最佳購買股票。因此,看一眼這個自由列表,其中包含過去收益增長(及進一步收益預測)的有趣公司。
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?對內容感到擔憂?請直接與我們聯繫。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?對內容感到擔憂?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。