Earnings Growth Outpaced the Decent 72% Return Delivered to Zhejiang Crystal-Optech (SZSE:002273) Shareholders Over the Last Year
Earnings Growth Outpaced the Decent 72% Return Delivered to Zhejiang Crystal-Optech (SZSE:002273) Shareholders Over the Last Year
Passive investing in index funds can generate returns that roughly match the overall market. But you can significantly boost your returns by picking above-average stocks. For example, the Zhejiang Crystal-Optech Co., Ltd (SZSE:002273) share price is up 67% in the last 1 year, clearly besting the market return of around 5.6% (not including dividends). So that should have shareholders smiling. The longer term returns have not been as good, with the stock price only 29% higher than it was three years ago.
被動投資指數基金可以產生大致符合整體市場的回報。但通過選擇表現優於平均水平的股票,你可以顯著提升回報。例如,水晶光電股份有限公司(SZSE:002273)的股價在過去一年上漲了67%,明顯超過了市場約5.6%的回報(不包括分紅派息)。這應該讓股東們感到高興。更長期的回報則不如人意,三年前的股價僅上漲了29%。
Since it's been a strong week for Zhejiang Crystal-Optech shareholders, let's have a look at trend of the longer term fundamentals.
由於水晶光電的股東這一週表現強勁,讓我們看看長期基本面的趨勢。
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。
Zhejiang Crystal-Optech was able to grow EPS by 97% in the last twelve months. This EPS growth is significantly higher than the 67% increase in the share price. So it seems like the market has cooled on Zhejiang Crystal-Optech, despite the growth. Interesting.
水晶光電在過去十二個月中能夠增長每股收益97%。這一每股收益的增長明顯高於67%的股價上漲。因此,儘管增長,市場似乎對水晶光電的熱情已降溫。挺有意思的。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下面的圖片中查看每股收益如何隨時間變化(單擊圖表以查看確切的價值)。
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We know that Zhejiang Crystal-Optech has improved its bottom line lately, but is it going to grow revenue? You could check out this free report showing analyst revenue forecasts.
我們知道水晶光電最近改善了其盈利狀況,但它的營業收入會增長嗎?您可以查看這份免費的報告,了解分析師的營業收入預測。
What About Dividends?
關於分紅派息的問題
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. As it happens, Zhejiang Crystal-Optech's TSR for the last 1 year was 72%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!
除了衡量股價回報外,投資者還應考慮總股東回報(TSR)。TSR是一種回報計算,考慮了現金分紅的價值(假設任何收到的分紅都已被再投資)以及任何折扣融資和分拆的計算價值。因此,對於那些支付可觀分紅的公司,TSR往往遠高於股價回報。實際上,水晶光電過去一年的TSR爲72%,超過了之前提到的股價回報。而且,很明顯,分紅支付在很大程度上解釋了這種差異!
A Different Perspective
另一種看法
We're pleased to report that Zhejiang Crystal-Optech shareholders have received a total shareholder return of 72% over one year. That's including the dividend. That's better than the annualised return of 7% over half a decade, implying that the company is doing better recently. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. It's always interesting to track share price performance over the longer term. But to understand Zhejiang Crystal-Optech better, we need to consider many other factors. Even so, be aware that Zhejiang Crystal-Optech is showing 1 warning sign in our investment analysis , you should know about...
我們很高興地報告,水晶光電的股東在一年內獲得了72%的總股東回報。這包括分紅。這比過去五年年化回報7%要好,暗示該公司最近表現更佳。持樂觀態度的人可能會將TSR的近期改善視爲業務本身隨着時間的推移而變得更好。長期跟蹤股價表現總是很有趣。但是要更好地理解水晶光電,我們需要考慮許多其他因素。儘管如此,請注意,在我們的投資分析中,水晶光電顯示出1個警告信號,您需要了解...
Of course Zhejiang Crystal-Optech may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
當然,水晶光電可能不是最值得買入的股票。因此,您可能希望查看這一免費的成長股票集合。
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,本文中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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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。