Despite Lower Earnings Than a Year Ago, China Development Bank Financial Leasing (HKG:1606) Investors Are up 48% Since Then
Despite Lower Earnings Than a Year Ago, China Development Bank Financial Leasing (HKG:1606) Investors Are up 48% Since Then
The China Development Bank Financial Leasing Co., Ltd. (HKG:1606) share price has had a bad week, falling 10%. But looking back over the last year, the returns have actually been rather pleasing! Looking at the full year, the company has easily bested an index fund by gaining 37%.
国家开发银行融资租赁有限公司(HKG: 1606)的股价表现不佳,下跌了10%。但是回顾过去的一年,回报实际上相当令人满意!纵观全年,该公司上涨了37%,轻松击败了指数基金。
While this past week has detracted from the company's one-year return, let's look at the recent trends of the underlying business and see if the gains have been in alignment.
尽管过去一周减少了公司一年的回报率,但让我们来看看基础业务的最新趋势,看看涨幅是否一致。
View our latest analysis for China Development Bank Financial Leasing
查看我们对国家开发银行融资租赁的最新分析
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. 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).
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。研究市场情绪如何随着时间的推移而变化的一种方法是研究公司股价与其每股收益(EPS)之间的相互作用。
During the last year, China Development Bank Financial Leasing actually saw its earnings per share drop 17%.
去年,国家开发银行融资租赁的每股收益实际上下降了17%。
So we don't think that investors are paying too much attention to EPS. 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,我们认为投资者对每股收益的关注并不过多。由于每股收益的变化似乎与股价的变化无关,因此值得一看其他指标。
We haven't seen China Development Bank Financial Leasing increase dividend payments yet, so the yield probably hasn't helped drive the share higher. Rather, we'd posit that the revenue increase of 8.5% might be more meaningful. Revenue growth often does precede earnings growth, so some investors might be willing to forgo profits today because they have their eyes fixed firmly on the future.
我们还没有看到国家开发银行融资租赁增加股息支付,因此收益率可能无助于推动股价上涨。相反,我们认为8.5%的收入增长可能更有意义。收入增长通常先于收益增长,因此一些投资者可能愿意放弃今天的利润,因为他们坚定地关注未来。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
公司的收入和收益(随着时间的推移)如下图所示(点击查看确切数字)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231201/0-f8ce1d7b4bbe5b7bf8c5aae35265850a-0-42b8e47f4bece33aae3012d3545bf465.png/big)
Balance sheet strength is crucial. It might be well worthwhile taking a look at our free report on how its financial position has changed over time.
资产负债表的强度至关重要。可能值得一看我们关于其财务状况如何随着时间的推移而变化的免费报告。
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. 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of China Development Bank Financial Leasing, it has a TSR of 48% for the last 1 year. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
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。股东总回报率是一种回报计算方法,它考虑了现金分红的价值(假设收到的任何股息已被再投资)以及任何贴现资本筹集和分拆的计算价值。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。就国家开发银行融资租赁而言,其过去1年的股东总回报率为48%。这超过了我们之前提到的股价回报率。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的视角
It's good to see that China Development Bank Financial Leasing has rewarded shareholders with a total shareholder return of 48% in the last twelve months. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 7% per year), it would seem that the stock's performance has improved in recent times. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. 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. To that end, you should learn about the 3 warning signs we've spotted with China Development Bank Financial Leasing (including 1 which is concerning) .
很高兴看到国家开发银行融资租赁在过去十二个月中向股东提供了48%的股东总回报率。当然,这包括分红。由于一年期股东总回报率好于五年期股东总回报(后者为每年7%),该股的表现似乎在最近有所改善。鉴于股价势头仍然强劲,可能值得仔细研究该股,以免错过机会。尽管值得考虑市场状况可能对股价产生的不同影响,但还有其他因素更为重要。为此,你应该了解我们在国家开发银行融资租赁中发现的3个警告信号(包括一个令人担忧的信号)。
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.
如果你想看看另一家公司——一家财务状况可能优异的公司——那么千万不要错过这份已经证明自己可以增加收益的公司的免费名单。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Hong Kong exchanges.
请注意,本文引用的市场回报反映了目前在香港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。