Yifeng Pharmacy Chain (SHSE:603939) Shareholders Have Earned a 14% CAGR Over the Last Five Years
Yifeng Pharmacy Chain (SHSE:603939) Shareholders Have Earned a 14% CAGR Over the Last Five Years
Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the market average. And the truth is, you can make significant gains if you buy good quality businesses at the right price. For example, long term Yifeng Pharmacy Chain Co., Ltd. (SHSE:603939) shareholders have enjoyed a 87% share price rise over the last half decade, well in excess of the market return of around 30% (not including dividends).
一般而言,积极选股的目的是寻找回报优于市场平均水平的公司。事实是,如果你以合适的价格收购优质的企业,你就能获得可观的收益。例如,益丰药业连锁有限公司(SHSE:603939)的长期股东在过去五年中股价上涨了87%,远远超过了约30%的市场回报率(不包括股息)。
With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.
考虑到这一点,值得一看公司的基本面是否是长期业绩的驱动力,或者是否存在一些差异。
Check out our latest analysis for Yifeng Pharmacy Chain
查看我们对亿丰连锁药房的最新分析
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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.
在他的文章中 格雷厄姆和多兹维尔的超级投资者 沃伦·巴菲特描述了股价如何并不总是合理地反映企业的价值。通过比较每股收益(EPS)和一段时间内的股价变化,我们可以了解投资者对公司的态度是如何随着时间的推移而变化的。
During five years of share price growth, Yifeng Pharmacy Chain achieved compound earnings per share (EPS) growth of 27% per year. The EPS growth is more impressive than the yearly share price gain of 13% over the same period. Therefore, it seems the market has become relatively pessimistic about the company.
在五年的股价增长中,益丰药业连锁实现了每年27%的每股复合收益(EPS)增长。每股收益的增长比同期13%的年度股价涨幅更令人印象深刻。因此,市场似乎对该公司变得相对悲观了。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
你可以在下面看到 EPS 是如何随着时间的推移而变化的(点击图片发现确切的值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231129/0-488b3c753b232b09fd19c807d0b21b35-0-8156211903bbb2c94dfc2b862e7bd9aa.png/big)
We know that Yifeng Pharmacy Chain has improved its bottom line lately, but is it going to grow revenue? Check if analysts think Yifeng Pharmacy Chain will grow revenue in the future.
我们知道益丰药房连锁店最近提高了利润,但它会增加收入吗?查看分析师是否认为益丰药房连锁店将来会增加收入。
What About Dividends?
分红呢?
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. In the case of Yifeng Pharmacy Chain, it has a TSR of 92% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
在考虑投资回报时,重要的是要考虑两者之间的区别 股东总回报 (TSR) 和 股价回报。股价回报仅反映股价的变化,而股东总回报率包括股息的价值(假设股息已被再投资)以及任何折扣融资或分拆的收益。可以公平地说,股东总回报率为支付股息的股票提供了更完整的画面。就益丰药房连锁而言,其过去5年的股东总回报率为92%。这超过了我们之前提到的股价回报率。而且,猜测股息支付在很大程度上解释了这种差异是没有好处的!
A Different Perspective
不同的视角
While the broader market lost about 3.6% in the twelve months, Yifeng Pharmacy Chain shareholders did even worse, losing 20% (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. On the bright side, long term shareholders have made money, with a gain of 14% per year over half a decade. 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 Yifeng Pharmacy Chain better, we need to consider many other factors. Take risks, for example - Yifeng Pharmacy Chain has 1 warning sign we think you should be aware of.
尽管大盘在十二个月内下跌了约3.6%,但益丰药业连锁股东的表现更差,损失了20%(甚至包括股息)。话虽如此,在下跌的市场中,一些股票不可避免地会被超卖。关键是要密切关注基本发展。好的一面是,长期股东已经赚了钱,在过去的五年中,每年增长14%。最近的抛售可能是一个机会,因此可能值得查看基本面数据以寻找长期增长趋势的迹象。从长远来看,追踪股价表现总是很有意思的。但是,要更好地了解益丰药房连锁店,我们需要考虑许多其他因素。举个风险为例——益丰药房连锁店有 1 个警告标志,我们认为你应该注意这些警告。
We will like Yifeng Pharmacy Chain better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.
如果我们看到一些大规模的内幕买入,我们会更喜欢益丰药房连锁店。在我们等待的同时,请查看这份免费名单,列出了最近有大量内幕买入的成长型公司。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
请注意,本文引用的市场回报反映了目前在中国交易所交易的股票的市场加权平均回报。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。