The 18% Return Delivered to Zhongmin Energy's (SHSE:600163) Shareholders Actually Lagged YoY Earnings Growth
The 18% Return Delivered to Zhongmin Energy's (SHSE:600163) Shareholders Actually Lagged YoY Earnings Growth
These days it's easy to simply buy an index fund, and your returns should (roughly) match the market. But the truth is, you can make significant gains if you buy good quality businesses at the right price. For example, the Zhongmin Energy Co., Ltd. (SHSE:600163) share price is 16% higher than it was five years ago, which is more than the market average. In comparison, the share price is down 7.4% in a year.
現在很容易購買指數基金,你的回報應該(大體上)能與市場匹配。但事實上,如果以正確價格購買優質企業,則可以獲得顯着收益。例如,中閩能源股份有限公司(SHSE: 600163)的股價比五年前高出16%,這比市場平均水平高。相比之下,股價在一年中下跌了7.4%。
Since the stock has added CN¥723m to its market cap in the past week alone, let's see if underlying performance has been driving long-term returns.
由於該股票在過去一週內增加了CN¥72300萬的市值,請看一下其潛在業績是否爲長期回報做出了貢獻。
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' 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.
引用巴菲特的話說,“船隻會在世界各地航行,但是持平地球學會會蓬勃發展。在市場上,價格和價值之間將繼續存在巨大的差距……”評估公司周圍情緒變化的一種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, Zhongmin Energy managed to grow its earnings per share at 25% a year. This EPS growth is higher than the 3% average annual increase in the share price. So one could conclude that the broader market has become more cautious towards the stock.
中閩能源在過去五年中,每股收益增長率達25%。這種增長率高於股價每年平均增長率3%。因此,大家可以得出結論認爲,市場對該股已變得更爲謹慎。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下面的圖片中查看每股收益如何隨時間變化(單擊圖表以查看確切的價值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240522/0-b632a3e9f6af8bc1c98de171784294a3-0-fb9faaaa80c740b4c0246c8e2b085cf3.png/big)
This free interactive report on Zhongmin Energy's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
如果您想進一步調查該股票,中閩能源的收益,營業收入和現金流的這份免費互動報告是一個好的開始。
What About Dividends?
那麼分紅怎麼樣呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Zhongmin Energy's TSR for the last 5 years was 18%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
考慮到任何給定股票的股東總回報率以及股票價格回報率都很重要。 TSR包括股息再投資的前提下,任何剝離或折價融資的價值以及任何分紅。因此,對於支付豐厚股息的公司,TSR通常比股票價格回報率高得多。恰巧,中閩能源過去5年的TSR爲18%,超過了先前提到的股票價格回報率。這在很大程度上是由於其分紅支付所致!
A Different Perspective
不同的觀點
While it's never nice to take a loss, Zhongmin Energy shareholders can take comfort that , including dividends,their trailing twelve month loss of 5.7% wasn't as bad as the market loss of around 8.2%. Of course, the long term returns are far more important and the good news is that over five years, the stock has returned 3% for each year. It could be that the business is just facing some short term problems, but shareholders should keep a close eye on the fundamentals. It's always interesting to track share price performance over the longer term. But to understand Zhongmin Energy better, we need to consider many other factors. For instance, we've identified 1 warning sign for Zhongmin Energy that you should be aware of.
雖然虧損是一件不好的事情,但中閩能源的股東可以想到即使考慮到分紅派息,其近12個月的虧損5.7%也沒有達到市場8.2%的虧損。當然,長期回報更爲重要,好消息是,在過去的五年中,該股每年回報3%。可能是公司正面臨一些暫時的業務問題,但股東們應該密切關注公司的基本面。在較長的時間跨度內跟蹤股價表現總是很有趣的。但要更好地了解中閩能源,我們需要考慮許多其他因素。例如,我們已經發現了1個警告信號,股東們應該注意。
If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.
如果您像我一樣,就不會希望錯過這份免費的內部人士正在購買的低估小市值股票列表。
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上市的股票的市場加權平均回報。
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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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。