The Past Three Years for Shanxi Taigang Stainless Steel (SZSE:000825) Investors Has Not Been Profitable
The Past Three Years for Shanxi Taigang Stainless Steel (SZSE:000825) Investors Has Not Been Profitable
If you love investing in stocks you're bound to buy some losers. But the last three years have been particularly tough on longer term Shanxi Taigang Stainless Steel Co., Ltd. (SZSE:000825) shareholders. Regrettably, they have had to cope with a 56% drop in the share price over that period. Unfortunately the share price momentum is still quite negative, with prices down 13% in thirty days. We do note, however, that the broader market is down 6.8% in that period, and this may have weighed on the share price.
如果你喜欢投资股票,那么你必定会购买一些失败者。但在过去的三年里,长期持有太钢不锈股票的股东们尤其不好过。遗憾地是,他们必须应对这一时期股价下跌56%的情况。不幸的是,股价的动能仍然非常负面,30天内下跌13%。我们注意到,然而,在这个时期里更广泛的市场下跌了6.8%,这可能对股价产生了压力。
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.
鉴于此,值得看看该公司的基本面是否一直是长期业绩的驱动因素,或者是否存在一些不一致之处。
Shanxi Taigang Stainless Steel wasn't profitable in the last twelve months, it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. That's because it's hard to be confident a company will be sustainable if revenue growth is negligible, and it never makes a profit.
在过去的12个月中,太钢不锈没有盈利, 它的股价与每股收益(EPS)之间不太可能有很强的相关性。我们的下一个最佳选择是营业收入。一般而言,没有盈利的公司预计每年营业收入增长,并且速度很快。这是因为如果收入增长微不足道,而且从不盈利,人们很难有信心公司会持续发展。
In the last three years, Shanxi Taigang Stainless Steel saw its revenue grow by 7.5% per year, compound. Given it's losing money in pursuit of growth, we are not really impressed with that. It's likely this weak growth has contributed to an annualised return of 16% for the last three years. When a stock falls hard like this, some investors like to add the company to a watchlist (in case the business recovers, longer term). After all, growing a business isn't easy, and the process will not always be smooth.
在过去的三年里,太钢不锈看到其营业收入每年复合增长7.5%。考虑到它在追求增长而亏损,我们对此并不是非常印象深刻。它可能现在的疲软增长已经导致了过去三年的年化收益率为16%。当一支股票像这样大幅下跌时,一些投资者喜欢将公司加入到自选股票中(以防业务恢复,长期投资)。毕竟,发展业务并不容易,这一过程不会总是一帆风顺。
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
你可以在下面的图片中看到收入和营业收入随时间的变化情况(单击图表可查看精确值)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240622/0-118307ffc6d4380ce8914a398bc14d55-0-68855c330718dda45435f23e8bcd6b5c.png/big)
It's probably worth noting that the CEO is paid less than the median at similar sized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. So we recommend checking out this free report showing consensus forecasts
值得注意的是,CEO的薪水低于规模相似公司的中位数。关注CEO的薪酬总是值得的,但更重要的问题是公司是否会在多年内增长收益。因此,我们建议查看这份显示共识预测的免费报告。
What About The Total Shareholder Return (TSR)?
那么,股东总回报(TSR)呢?
We've already covered Shanxi Taigang Stainless Steel's share price action, but we should also mention its total shareholder return (TSR). The TSR attempts to capture the value of dividends (as if they were reinvested) as well as any spin-offs or discounted capital raisings offered to shareholders. Its history of dividend payouts mean that Shanxi Taigang Stainless Steel's TSR, which was a 52% drop over the last 3 years, was not as bad as the share price return.
我们已经涉及过太钢不锈的股价走势,但我们还应该提到其总股东回报(TSR)。TSR试图捕捉股息的价值(就像它们被重新投资一样)以及向股东提供的任何分拆或折价发行股票。它分红的历史意味着太钢不锈的TSR高达52%。下跌鞍钢股份的股东今年下跌了37%,但市场本身上涨了4.8%。请记住,即使是最好的股票有时也会在12个月的期间内表现不佳。遗憾的是,去年的表现使得股东在过去5年里每年面临着9%的总亏损。通常,长期的股价走弱可能是一个不好的迹象,尽管反向投资者可能希望研究这支股票,以期望有所转机。查看这个更详细的历史收益、营业额和现金流图表,你可以更好地了解鞍钢股份的增长情况。
A Different Perspective
不同的观点
Although it hurts that Shanxi Taigang Stainless Steel returned a loss of 12% in the last twelve months, the broader market was actually worse, returning a loss of 14%. Given the total loss of 0.6% per year over five years, it seems returns have deteriorated in the last twelve months. Whilst Baron Rothschild does tell the investor "buy when there's blood in the streets, even if the blood is your own", buyers would need to examine the data carefully to be comfortable that the business itself is sound. 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. For instance, we've identified 1 warning sign for Shanxi Taigang Stainless Steel that you should be aware of.
虽然太钢不锈在过去的12个月中损失了12%,但更广泛的市场实际上表现更差,损失了14%。考虑到最近五年的总损失率为0.6%,看起来回报在过去的12个月里已经恶化了。虽然罗斯柴尔德男爵确实告诉投资者"当街头上有鲜血时买进,即使血是你自己的",但买家需要仔细地检查数据以确保业务本身是否健康。尽管考虑市场状况可能对股价产生不同的影响,但还有其他更重要的因素。例如,我们已经确认了太钢不锈的一个警示信号,你应该注意。
For those who like to find winning investments this free list of undervalued companies with recent insider purchasing, could be just the ticket.
对于那些喜欢寻找获胜投资的人来说,最近有内部购买的低估公司免费列表可能是一个很好的选择。
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上市的股票的市场加权平均回报。
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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.
对本文有反馈?关于内容有所顾虑?直接和我们联系。或者,发送电子邮件至editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈?关于内容有所顾虑?直接和我们联系。或者发送电子邮件至editorial-team@simplywallst.com。