Despite the Downward Trend in Earnings at People.cn (SHSE:603000) the Stock Ascends 4.4%, Bringing Three-year Gains to 55%
Despite the Downward Trend in Earnings at People.cn (SHSE:603000) the Stock Ascends 4.4%, Bringing Three-year Gains to 55%
While People.cn CO., LTD (SHSE:603000) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 18% in the last quarter. But don't let that distract from the very nice return generated over three years. In the last three years the share price is up, 51%: better than the market.
雖然People.cn股東(SHSE:603000)可能總體上感到高興,但股票最近表現不佳,上個季度股價下跌了18%。但不要讓這分散你對過去三年中所獲得的良好回報的注意力。在過去的三年中,股價上漲了51%:超過市場。
Since the stock has added CN¥940m to its market cap in the past week alone, let's see if underlying performance has been driving long-term returns.
自上週以來,該股票市值已經增加了CN¥94000萬,讓我們看看公司表現是否推動了長期回報。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.
市場有時候是有效的,但價格並不總是反映公司的基本業務表現。通過比較每股收益和股價變化,我們可以了解投資者對公司的看法如何隨着時間變化而變化。
Over the last three years, People.cn failed to grow earnings per share, which fell 5.4% (annualized).
在過去的三年中,People.cn未能增長每股收益,下降了5.4%(年化)。
Thus, it seems unlikely that the market is focussed on EPS growth at the moment. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.
因此,目前市場似乎不關注每股收益的增長。既然每股收益的變化似乎不與股價的變化相關,那麼值得看看其他指標。
The modest 0.8% dividend yield is unlikely to be propping up the share price. You can only imagine how long term shareholders feel about the declining revenue trend (slipping at 2.4% per year). The only thing that's clear is there is low correlation between People.cn's share price and its historic fundamental data. Further research may be required!
微不足道的0.8%股息收益率不可能支撐股價。您可以想象長期股東對收入下降趨勢(每年下降2.4%)的感受。唯一清晰的是,People.cn股票價格與其歷史基本數據之間的相關性較低,可能需要進一步研究!
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
你可以在下面的圖片中看到收入和營業收入隨時間的變化情況(單擊圖表可查看精確值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240723/0-1500d0b6f3bb5d95d2f76d91f8b04fbb-0-1bb3240b53951dacc28c0193512b377d.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 People.cn's earnings, revenue and cash flow.
值得注意的是,CEO的薪酬低於同等規模公司的中位數。但雖然總裁的薪酬值得檢查,但真正重要的問題是公司未來是否能夠增長收益。值得一提的是,了解People.cn的收益、營業收入和現金流的免費報告可能是非常值得的。
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). 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for People.cn the TSR over the last 3 years was 55%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
投資者除了測量股價回報率外,還應考慮到總股東回報率(TSR)。股價回報率僅反映股價變化,TSR包括股息的價值(假設它們已被再投資)以及任何折價籌資或分拆帶來的收益。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,對於People.cn,過去3年的TSR爲55%,優於上面提到的股價回報率。公司支付的股息已經提高了投資者的總回報。
A Different Perspective
不同的觀點
While the broader market lost about 15% in the twelve months, People.cn shareholders did even worse, losing 33% (even including dividends). 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. Longer term investors wouldn't be so upset, since they would have made 5%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. It's always interesting to track share price performance over the longer term. But to understand People.cn better, we need to consider many other factors. Take risks, for example - People.cn has 2 warning signs (and 1 which is a bit concerning) we think you should know about.
儘管更廣泛的市場在十二個月內下跌約15%,但人民網股東的情況更糟,損失了33%(包括分紅在內)。話雖如此,在下跌的市場中有些股票被過度拋售是不可避免的。關鍵是要關注基本面的發展。長期投資者不會那麼沮喪,因爲他們每年可以獲得5%的收益,在五年內增長。最近出售可能是一個機會,因此值得檢查基本數據是否顯示出長期增長趨勢。長期跟蹤股價表現總是很有趣。但要更好地了解人民網,我們需要考慮許多其他因素。例如,冒險-人民網有2個警告信號(其中1個有些令人擔憂),我們認爲您應該知道。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: many of them are unnoticed AND have attractive valuation).
如果您喜歡與管理層一起購買股票,那麼您可能會喜歡這個公司的免費列表。 (提示:其中許多公司不爲人注意且具有吸引力的估值。)
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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。