Chongqing Yukaifa (SZSE:000514) Investors Are up 11% in the Past Week, but Earnings Have Declined Over the Last Three Years
Chongqing Yukaifa (SZSE:000514) Investors Are up 11% in the Past Week, but Earnings Have Declined Over the Last Three Years
By buying an index fund, you can roughly match the market return with ease. But many of us dare to dream of bigger returns, and build a portfolio ourselves. For example, Chongqing Yukaifa Co., Ltd (SZSE:000514) shareholders have seen the share price rise 29% over three years, well in excess of the market decline (26%, not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 5.0% in the last year , including dividends .
通過購買指數基金,您可以輕鬆地大致匹配市場回報。但是我們中的許多人敢於夢想獲得更大的回報,並自己建立投資組合。例如,重慶裕開發股份有限公司(深交所股票代碼:000514)的股東在三年內股價上漲了29%,遠遠超過了市場的跌幅(26%,不包括股息)。但是,最近的回報並不那麼令人印象深刻,該股去年的回報率僅爲5.0%,包括股息。
On the back of a solid 7-day performance, let's check what role the company's fundamentals have played in driving long term shareholder returns.
在連續7天表現穩健的背景下,讓我們來看看公司的基本面在推動長期股東回報方面發揮了什麼作用。
Check out our latest analysis for Chongqing Yukaifa
查看我們對重慶遊開發的最新分析
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 格雷厄姆和多茲維爾的超級投資者 禾倫·巴菲特描述了股價如何並不總是合理地反映企業的價值。通過比較每股收益(EPS)和一段時間內的股價變化,我們可以了解投資者對公司的態度是如何隨着時間的推移而變化的。
During the three years of share price growth, Chongqing Yukaifa actually saw its earnings per share (EPS) drop 13% per year.
在股價增長的三年中,重慶裕開發的每股收益(EPS)實際上每年下降13%。
This means it's unlikely the market is judging the company based on earnings growth. Given this situation, it makes sense to look at other metrics too.
這意味着市場不太可能根據收益增長來評判該公司。鑑於這種情況,考慮其他指標也是有意義的。
The modest 0.5% dividend yield is unlikely to be propping up the share price. It could be that the revenue growth of 14% per year is viewed as evidence that Chongqing Yukaifa is growing. If the company is being managed for the long term good, today's shareholders might be right to hold on.
0.5%的適度股息收益率不太可能支撐股價。每年14%的收入增長可能被視爲重慶御開發增長的證據。如果公司的管理是爲了長期利益,那麼今天的股東堅持下去可能是正確的。
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
下圖描述了收入和收入隨時間推移而發生的變化(點擊圖片即可顯示確切的數值)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240127/0-8fc94f2f2a9649a2819a7012ee9b7bdb-0-35ee29125183ea8a8a20969b3844837b.png/big)
You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.
您可以在這張免費的交互式圖片中看到其資產負債表如何隨着時間的推移而增強(或減弱)。
What About Dividends?
分紅呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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 Chongqing Yukaifa, it has a TSR of 32% for the last 3 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!
重要的是要考慮任何給定股票的股東總回報率和股價回報率。儘管股價回報率僅反映股價的變化,但股東總回報率包括股息的價值(假設已進行再投資)以及任何折扣融資或分拆的收益。可以公平地說,股東總回報率爲支付股息的股票提供了更完整的畫面。以重慶裕開發爲例,其過去三年的股東回報率爲32%。這超過了我們之前提到的其股價回報率。而且,猜測股息支付在很大程度上解釋了這種分歧是沒有好處的!
A Different Perspective
不同的視角
It's nice to see that Chongqing Yukaifa shareholders have received a total shareholder return of 5.0% over the last year. And that does include the dividend. That gain is better than the annual TSR over five years, which is 4%. Therefore it seems like sentiment around the company has been positive lately. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. Before deciding if you like the current share price, check how Chongqing Yukaifa scores on these 3 valuation metrics.
很高興看到重慶裕開發股東去年獲得了 5.0% 的總股東回報率。這確實包括股息。這一增幅好於五年內的年度股東總回報率,即4%。因此,最近公司周圍的情緒似乎一直很樂觀。鑑於股價勢頭仍然強勁,可能值得仔細研究該股,以免錯過機會。在決定是否喜歡當前股價之前,請查看重慶裕開發在這三個估值指標上的得分。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).
如果你想與管理層一起購買股票,那麼你可能會喜歡這份免費的公司名單。(提示:業內人士一直在購買它們)。
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。
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對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。