Investing in Henan Pinggao ElectricLtd (SHSE:600312) Five Years Ago Would Have Delivered You a 73% Gain
Investing in Henan Pinggao ElectricLtd (SHSE:600312) Five Years Ago Would Have Delivered You a 73% Gain
When we invest, we're generally looking for stocks that outperform the market average. Buying under-rated businesses is one path to excess returns. For example, long term Henan Pinggao Electric Co.,Ltd. (SHSE:600312) shareholders have enjoyed a 69% share price rise over the last half decade, well in excess of the market return of around 43% (not including dividends).
當我們投資時,我們通常會尋找表現優於市場平均水準的股票。收購評級偏低的企業是獲得超額回報的一條途徑。例如,長期河南平高電氣有限公司(上交所:600312)在過去五年中,股東的股價上漲了69%,遠遠超過了約43%的市場回報率(不包括股息)。
Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business.
現在也有必要看看該公司的基本面,因為這將有助於我們確定長期股東回報是否與基礎業務的表現相匹配。
See our latest analysis for Henan Pinggao ElectricLtd
查看我們對河南平高電氣有限公司的最新分析
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.
不可否認,市場有時是有效的,但價格並不總是反映潛在的商業表現。評估圍繞一家公司的情緒變化的一個有缺陷但合理的方法是將每股收益(EPS)與股價進行比較。
Over half a decade, Henan Pinggao ElectricLtd managed to grow its earnings per share at 23% a year. This EPS growth is higher than the 11% average annual increase in the share price. So it seems the market isn't so enthusiastic about the stock these days.
在過去的五年裡,河南平高電氣股份有限公司的每股收益以每年23%的速度增長。這一EPS增幅高於11%的股價年均增幅。因此,這些天市場對該股的熱情似乎不那麼高。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下圖中看到EPS是如何隨著時間的推移而變化的(單擊圖表可查看精確值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231013/0-ce1ab861156d1f1f7106e385e8a75565-0-d24ed4ed17576233dbb030d019e3d06a.png/big)
We know that Henan Pinggao ElectricLtd 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,河南平高電氣有限公司最近提高了利潤,但它會增加收入嗎?你可以看看這個免費顯示分析師收入預測的報告。
What About Dividends?
那股息呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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 Henan Pinggao ElectricLtd the TSR over the last 5 years was 73%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!
在考察投資回報時,重要的是要考慮到股東總回報(TSR)和股價回報。雖然股價回報只反映股價的變動,但TSR包括股息的價值(假設股息再投資),以及任何折價集資或分拆所帶來的利益。公平地說,TSR為支付股息的股票提供了更完整的圖景。我們注意到,河南平高電氣股份有限公司過去5年的總回報率為73%,好於上述股價回報率。而且,猜測股息支付在很大程度上解釋了這種差異是沒有好處的!
A Different Perspective
不同的視角
It's good to see that Henan Pinggao ElectricLtd has rewarded shareholders with a total shareholder return of 58% in the last twelve months. Of course, that includes the dividend. That's better than the annualised return of 12% 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. Before forming an opinion on Henan Pinggao ElectricLtd you might want to consider these 3 valuation metrics.
很高興看到,在過去的12個月裡,河南平高電氣股份有限公司以58%的總股東回報回報了股東。當然,這包括股息。這比過去五年12%的年化回報率要好,這意味著該公司最近的表現更好。持樂觀觀點的人可能會認為,最近TSR的改善表明,業務本身正在隨著時間的推移而變得更好。在對河南平高電氣股份有限公司形成看法之前,你可能需要考慮以下三個估值指標。
Of course Henan Pinggao ElectricLtd may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
當然了河南平高電氣股份有限公司可能不是買入的最佳股票那就是。所以你可能想看看這個免費成長型股票的集合。
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,本文引用的市場回報反映了目前在中國交易所交易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.
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫.或者,也可以給編輯組發電子郵件,地址是暗示Wallst.com。
本文由Simply Wall St.撰寫,具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.