The Past Three Years for Chacha Food Company (SZSE:002557) Investors Has Not Been Profitable
The Past Three Years for Chacha Food Company (SZSE:002557) Investors Has Not Been Profitable
These days it's easy to simply buy an index fund, and your returns should (roughly) match the market. In contrast individual stocks will provide a wide range of possible returns, and may fall short. Unfortunately, that's been the case for longer term Chacha Food Company, Limited (SZSE:002557) shareholders, since the share price is down 37% in the last three years, less than the market decline of around 27%. And more recent buyers are having a tough time too, with a drop of 32% in the last year. Furthermore, it's down 23% in about a quarter. That's not much fun for holders.
現在很容易買入指數基金,你的回報應該(大致)與市場相匹配,但個別股票提供了各種可能的回報範圍,並且可能表現不佳。不幸的是,長揸洽洽食品有限公司(SZSE:002557)的股東在過去三年中股價下跌37%,低於市場下跌約27%。更近期的買家也很吃虧,去年下跌32%,一個季度內下跌23%。對於股東來說這並不好玩。
So let's have a look and see if the longer term performance of the company has been in line with the underlying business' progress.
那麼我們來看看這家公司的長期表現是否符合其業務進展情況。
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《格雷厄姆和多德斯維爾超級投資者》中,禾倫·巴菲特描述了股票價格並不總是反映公司價值的合理方式。考慮市場對公司的看法如何發生變化的一個不完美但簡單的方法是將每股收益(EPS)的變化與股價的變動進行比較。股票價格並不總是反映公司價值的合理方式禾倫·巴菲特描述了股票價格並不總是理性反映企業價值的情況。通過比較每股收益(EPS)和股價隨時間的變化,我們可以了解投資者對公司的態度如何隨着時間而變化。
During the unfortunate three years of share price decline, Chacha Food Company actually saw its earnings per share (EPS) improve by 0.6% per year. Given the share price reaction, one might suspect that EPS is not a good guide to the business performance during the period (perhaps due to a one-off loss or gain). Or else the company was over-hyped in the past, and so its growth has disappointed.
在不幸的三年股票價格下跌期間,洽洽食品公司實際上每年的每股收益(EPS)提高了0.6%。考慮到股票價格的反應,人們可能會懷疑EPS不是該期間業務表現的良好指標(可能是由於一次性損失或收益),或者公司過去過於炒作,因此增長令人失望。
It looks to us like the market was probably too optimistic around growth three years ago. But it's possible a look at other metrics will be enlightening.
我們認爲市場在三年前可能過於看好增長預期,但通過看其他指標可能會更有啓迪。
Revenue is actually up 9.8% over the three years, so the share price drop doesn't seem to hinge on revenue, either. It's probably worth investigating Chacha Food Company further; while we may be missing something on this analysis, there might also be an opportunity.
營業收入實際上在過去三年中增長了9.8%,因此股價下跌似乎並不取決於營業收入。進一步研究洽洽食品公司可能值得,雖然在此分析中我們可能遺漏了一些東西,但也可能存在機會。
You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).
您可以看到以下收益和營收的變化情況(通過單擊圖像了解精確值)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240629/0-dc02ea7862863111dce15c1af4888963-0-5c3ba033d7293249675a172ea00bb3da.png/big)
Chacha Food Company is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. So we recommend checking out this free report showing consensus forecasts
洽洽食品公司爲投資者所熟知,許多聰明的分析師試圖預測未來的利潤水平。因此,我們建議查看這份顯示共識預測的免費報告 。
What About Dividends?
那麼分紅怎麼樣呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Chacha Food Company, 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!
在考慮投資回報時,重要的是考慮總股東回報(TSR)和股票回報之間的差異。 TSR包括任何剝離或折讓的資本籌集(基於股息被重新投資的假設),以及任何股息。因此,對於支付慷慨的股息公司而言,TSR通常比股票回報高得多。就中國神威藥業集團而言,其TSR在過去5年中達到了75%。這超過了我們之前提到的股票回報。該公司支付的股息已經提高了總股東回報。總股東回報和股票回報TSR包括任何剝離或折價融資的價值,以及任何股息,基於股息再投資的假設。對於支付股息的股票而言,TSR給出了更完整的圖景。對於洽洽食品公司,過去3年的TSR爲-32%。這超過了我們之前提到的股價回報。毫無疑問,股息支付在很大程度上解釋了這種分歧!
A Different Perspective
不同的觀點
While the broader market lost about 16% in the twelve months, Chacha Food Company shareholders did even worse, losing 30% (even including dividends). However, it could simply be that the share price has been impacted by broader market jitters. It might be worth keeping an eye on the fundamentals, in case there's a good opportunity. On the bright side, long term shareholders have made money, with a gain of 3% per year over half a decade. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. Keeping this in mind, a solid next step might be to take a look at Chacha Food Company's dividend track record. This free interactive graph is a great place to start.
雖然廣泛市場在12個月內下跌約16%,洽洽食品公司的股東表現更差,損失了30%(包括股息)。然而,股價可能僅僅受到了更廣泛的市場焦慮的影響。如果有一個好機會,值得關注基本面。好消息是,長揸期間,股東獲得了盈利,每年增長了3%的紅利。最近的拋售可能是一個機會,因此值得檢查基本數據以了解長期增長趨勢的跡象。一定要記住,下一步可靠的方法可能是查看洽洽食品公司的股息歷史記錄。這個免費的交互式圖表是一個很好的開始。
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.
如果您願意查看另一家公司(具有潛在的更好財務狀況),請不要錯過這個免費的公司列表,證明它們可以增長收益。
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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,也可以發送電子郵件至editorial-team@simplywallst.com