China Nuclear Engineering (SHSE:601611) Shareholders Have Earned a 6.8% CAGR Over the Last Three Years
China Nuclear Engineering (SHSE:601611) Shareholders Have Earned a 6.8% CAGR Over the Last Three Years
One simple way to benefit from the stock market is to buy an index fund. But if you buy good businesses at attractive prices, your portfolio returns could exceed the average market return. Just take a look at China Nuclear Engineering Corporation Limited (SHSE:601611), which is up 20%, over three years, soundly beating the market decline of 30% (not including dividends). On the other hand, the returns haven't been quite so good recently, with shareholders up just 4.6%, including dividends.
從股市中受益的一種簡單方法就是購買指數基金。但如果您以有吸引力的價格購買優質企業的股票,則您的投資組合回報率可能會超過平均市場回報率。請看中國核工業建設股份有限公司(SHSE: 601611)的回報,其股價在三年內上漲了20%以上,遠遠超過市場下跌了30%,未包括分紅派息。但投資回報率最近並不那麼理想,股東們的回報率僅爲4.6%,包括分紅在內。
So let's assess the underlying fundamentals over the last 3 years and see if they've moved in lock-step with shareholder returns.
因此,讓我們評估過去3年的潛在基本面,看看它們是否與股東回報同步變化。
There is no denying that markets are sometimes efficient, but prices do not always reflect 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.
不可否認的是,市場有時是高效的,但價格並不總是反映潛在的商業表現。一個不完美但簡單的方法來考慮公司市場感知如何改變是比較每股收益(EPS)變化和股價變動。
During three years of share price growth, China Nuclear Engineering achieved compound earnings per share growth of 12% per year. The average annual share price increase of 6% is actually lower than the EPS growth. So one could reasonably conclude that the market has cooled on the stock. This cautious sentiment is reflected in its (fairly low) P/E ratio of 11.64.
在股價增長的三年中,中國核工業的每股收益增長複合增長率達到了12%每年。其平均年股價增長率爲6%,實際上低於每股收益增長率。因此,可以合理地得出結論,市場已對該股冷淡。這種謹慎情緒反映在其相對低的市盈率(P/E ratio)爲11.64上。
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
該公司的每股收益(隨時間的推移)如下圖所示(單擊可查看確切數字)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240716/0-4bb990ef08c85a274eeb0b9710982c61-0-3e3ff33a988da9a95bf6f5ff01a6a8e6.png/big)
Dive deeper into China Nuclear Engineering's key metrics by checking this interactive graph of China Nuclear Engineering's earnings, revenue and cash flow.
通過查看中國核工業收益、營業收入和現金流的互動圖表,深入了解中國核工業的關鍵指標。
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, China Nuclear Engineering's TSR for the last 3 years was 22%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
除了衡量股價回報率外,投資者還應考慮總股東回報率(TSR)。TSR是一種回報計算,考慮了現金股利的價值(假設任何股息再投資)以及任何折價資本增發和拆分股票的計算價值。可以說,TSR給出了股票的更全面的回報情況。恰好,中國核工業過去3年的TSR爲22%,超過了前面提到的股價回報。這在很大程度上是其派息的結果!
A Different Perspective
不同的觀點
It's good to see that China Nuclear Engineering has rewarded shareholders with a total shareholder return of 4.6% in the last twelve months. Of course, that includes the dividend. That's better than the annualised return of 3% over half a decade, implying that the company is doing better recently. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. It's always interesting to track share price performance over the longer term. But to understand China Nuclear Engineering better, we need to consider many other factors. Take risks, for example - China Nuclear Engineering has 2 warning signs (and 1 which is significant) we think you should know about.
很高興看到中國核工業在過去12個月中以4.6%的總股東回報率回報了股東。當然,這還包括股息。這比半個十年以來的年化回報率3%要好,暗示該公司最近的運營表現更佳。在最好的情況下,這可能暗示着一些真正的業務動量,這意味着現在可能是深入探究的好時機。長期追蹤股價表現總是有趣的。但是爲了更好地了解中國核工業,我們需要考慮許多其他因素。例如,冒風險 - 我們認爲您應該知道中國核工業有2個警告標誌(其中1個具有重要意義)。
But note: China Nuclear Engineering 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).
但需要注意的是,中國核工業可能不是最佳的股票選擇。因此,請查看此免費列表,其中包含過去的收益增長(以及進一步的增長預測)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。
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?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。