Those Who Invested in Shandong Publishing&MediaLtd (SHSE:601019) Three Years Ago Are up 147%
Those Who Invested in Shandong Publishing&MediaLtd (SHSE:601019) Three Years Ago Are up 147%
It might seem bad, but the worst that can happen when you buy a stock (without leverage) is that its share price goes to zero. But if you buy shares in a really great company, you can more than double your money. For instance the Shandong Publishing&Media Co.,Ltd (SHSE:601019) share price is 114% higher than it was three years ago. Most would be happy with that. We note the stock price is up 1.8% in the last seven days.
當你購買一隻股票(無負債)時,最糟糕的情況可能是股價歸零。但如果你購買了一家真正優秀的公司的股票,你的資產可能會增加一倍以上。例如,山東出版傳媒股份有限公司(SHSE:601019)的股票價格比三年前上漲了114%。大多數人都會對此感到高興。我們注意到,該股票價格在過去七天中上漲了1.8%。
So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress.
那麼,讓我們調查一下並查看公司的長期表現是否符合基本業務的進展。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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).
市場有時無疑是高效的,但價格並不總是反映基礎業務表現。 一種檢查市場情緒如何隨時間改變的方法是查看公司的股價與每股收益(EPS)之間的互動。
Shandong Publishing&MediaLtd was able to grow its EPS at 19% per year over three years, sending the share price higher. In comparison, the 29% per year gain in the share price outpaces the EPS growth. This indicates that the market is feeling more optimistic on the stock, after the last few years of progress. It's not unusual to see the market 're-rate' a stock, after a few years of growth.
山東出版傳媒股份有限公司成功地實現了EPS每年增長19%的目標,從而推高股價。相比之下,每年股價上漲29%超過了EPS增長。這表明股市在經過過去幾年的進展之後對該股持更樂觀的態度。在看到股票成長數年後,股市想要重估股票是很常見的。
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/7781/20240803/0-481cd710342c1218c4d25e7241318648-0-6ed3a6a6a49fed014a59435dae989c3f.png/big)
We know that Shandong Publishing&MediaLtd has improved its bottom line lately, but is it going to grow revenue? If you're interested, you could check this free report showing consensus revenue forecasts.
我們知道山東出版傳媒股份有限公司的底線有所改善,但其營業收入是否會增長?如果您感興趣,可以查看這份顯示共識營收預測的免費報告。
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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Shandong Publishing&MediaLtd, it has a TSR of 147% for the last 3 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
除了衡量股價回報,投資者還應考慮總股東回報(TSR)。TSR是一個回報計算,計算了現金股息的價值(假設任何股息都會再投資)以及任何折價的資本籌資和分拆的計算價值。所以對於那些支付豐厚股息的公司,TSR通常比股價回報高得多。對於山東出版傳媒股份有限公司而言,過去3年的TSR爲147%。這超過了我們之前提到的股價回報。這在很大程度上是由於其分紅支付所致!
A Different Perspective
不同的觀點
It's nice to see that Shandong Publishing&MediaLtd shareholders have received a total shareholder return of 29% over the last year. And that does include the dividend. That's better than the annualised return of 16% 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. 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 - Shandong Publishing&MediaLtd has 2 warning signs (and 1 which can't be ignored) we think you should know about.
令人高興的是,山東出版傳媒股份有限公司的股東在過去一年中獲得了29%的總股東回報,其中包括股息。這比過去五年16%的年化回報要好,這意味着公司近期表現更好。在最好的情況下,這可能暗示了一些真正的業務動力,這也意味着現在可能是深入挖掘的好時機。雖然考慮市場條件可能對股價產生不同影響是值得的,但還有其他更重要的因素。例如,風險——我們認爲山東出版傳媒股份有限公司有2個警示信號(1個不能忽視),需要您了解。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
當然,您可能在其他地方找到一家出色的企業進行投資。因此,請查看我們預計將實現盈利增長的公司的免費列表。
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。