Investors More Bullish on Qingdao Copton Technology (SHSE:603798) This Week as Stock Rallies 17%, Despite Earnings Trending Downwards Over Past Three Years
Investors More Bullish on Qingdao Copton Technology (SHSE:603798) This Week as Stock Rallies 17%, Despite Earnings Trending Downwards Over Past Three Years
By buying an index fund, investors can approximate the average market return. But if you buy good businesses at attractive prices, your portfolio returns could exceed the average market return. For example, Qingdao Copton Technology Company Limited (SHSE:603798) shareholders have seen the share price rise 56% over three years, well in excess of the market decline (20%, not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 32% in the last year , including dividends .
通過購買指數基金,投資者可以估算出平均市場回報率。但是,如果你以誘人的價格收購優秀的企業,你的投資組合回報率可能會超過平均市場回報。例如,青島科普頓科技股份有限公司(SHSE: 603798)股東的股價在三年內上漲了56%,遠遠超過了市場跌幅(20%,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32%,包括股息。
The past week has proven to be lucrative for Qingdao Copton Technology investors, so let's see if fundamentals drove the company's three-year performance.
事實證明,過去一週對青島康普頓科技的投資者來說是有利可圖的,所以讓我們看看基本面是否推動了該公司的三年業績。
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 imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
儘管一些人繼續教導高效市場假說,但事實證明,市場是反應過度的動態系統,投資者並不總是理性的。考慮市場對公司的看法發生了怎樣的變化的一種不完美但簡單的方法是將每股收益(EPS)的變化與股價走勢進行比較。
During the three years of share price growth, Qingdao Copton Technology actually saw its earnings per share (EPS) drop 18% per year.
在股價增長的三年中,青島康普頓科技的每股收益(EPS)實際上每年下降18%。
So we doubt that the market is looking to EPS for its main judge of the company's value. Therefore, we think it's worth considering other metrics as well.
因此,我們懷疑市場是否將每股收益作爲公司價值的主要判斷者。因此,我們認爲也值得考慮其他指標。
The modest 0.5% dividend yield is unlikely to be propping up the share price. The revenue drop of 1.9% is as underwhelming as some politicians. What's clear is that historic earnings and revenue aren't matching up with the share price action, very well. So you might have to dig deeper to get a grasp of the situation
0.5%的適度股息收益率不太可能支撐股價。1.9%的收入下降與一些政客一樣令人難以置信。顯而易見的是,歷史收益和收入與股價走勢不符。因此,你可能需要更深入地挖掘才能了解情況
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/7781/20240404/0-b761f269d8c8d2988cd55d71c673eeb9-0-feeb44d433afd9ac6660b18cb05f353a.png/big)
This free interactive report on Qingdao Copton Technology's balance sheet strength is a great place to start, if you want to investigate the stock further.
如果你想進一步調查青島科普頓科技的資產負債表實力,這份關於青島科普頓科技資產負債表實力的免費互動報告是一個很好的起點。
What About Dividends?
分紅呢?
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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Qingdao Copton Technology, it has a TSR of 62% 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!
在考慮投資回報時,重要的是要考慮兩者之間的區別 股東總回報 (TSR) 和 股價回報。股東總回報率是一種回報計算方法,它考慮了現金分紅的價值(假設收到的任何股息都經過再投資)以及任何貼現資本籌集和分拆的計算價值。因此,對於支付豐厚股息的公司來說,股東總回報率通常遠高於股價回報率。就青島科普頓科技而言,其過去三年的股東回報率爲62%。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 Qingdao Copton Technology shareholders have received a total shareholder return of 32% over the last year. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 4% 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. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. To that end, you should be aware of the 2 warning signs we've spotted with Qingdao Copton Technology .
很高興看到青島科普頓科技股東去年獲得了 32% 的股東總回報率。當然,這包括股息。由於一年期股東總回報率好於五年期股東總回報率(後者爲每年4%),因此該股的表現似乎在最近有所改善。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。我發現將長期股價視爲業務績效的代表非常有趣。但是,要真正獲得見解,我們還需要考慮其他信息。爲此,你應該注意我們在青島康普頓科技公司發現的兩個警告信號。
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
對於那些喜歡尋找中獎投資的人來說,這份最近有內幕收購的成長型公司的免費名單可能只是門票。
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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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。