ChengDu Hi-Tech Development's (SZSE:000628) Three-year Total Shareholder Returns Outpace the Underlying Earnings Growth
ChengDu Hi-Tech Development's (SZSE:000628) Three-year Total Shareholder Returns Outpace the Underlying Earnings Growth
Some ChengDu Hi-Tech Development Co., Ltd. (SZSE:000628) shareholders are probably rather concerned to see the share price fall 31% over the last three months. But that doesn't displace its brilliant performance over three years. In fact, the share price has taken off in that time, up 365%. So you might argue that the recent reduction in the share price is unremarkable in light of the longer term performance. The only way to form a view of whether the current price is justified is to consider the merits of the business itself.
可能有一些鄭州高新發展股份有限公司(SZSE:000628)的股東對過去三個月股價下跌31%感到擔憂。但這並沒有抹去它在過去三年裏的出色表現。事實上,在這段時間裏,股價飆升了365%。因此,從更長期的表現來看,最近股價下跌並不引人注目。唯一判斷當前價格是否合理的方式是考慮業務本身的優勢。
Although ChengDu Hi-Tech Development has shed CN¥423m from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.
儘管鄭州高新發展本週市值減少了4.23億元人民幣,讓我們來看看它更長期的基本趨勢,看看它們是否推動了回報。
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. 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.
在他的文章《格雷厄姆-多德斯維爾的超級投資人》中,禾倫·巴菲特描述了股票價格並不總是理性地反映公司價值的情況。一種有缺陷但合理的評估公司情緒如何變化的方法是將每股收益(EPS)與股票價格進行比較。
ChengDu Hi-Tech Development was able to grow its EPS at 11% per year over three years, sending the share price higher. This EPS growth is lower than the 67% average annual increase in the share price. This indicates that the market is feeling more optimistic on the stock, after the last few years of progress. It is quite common to see investors become enamoured with a business, after a few years of solid progress.
鄭州高新發展能夠以每年11%的速度增長每股收益,推動股價上升。這種每股收益增長低於股價的平均年增長率67%。這表明,在過去幾年的進展之後,市場對這隻股票更加樂觀。在幾年的穩定進展之後,投資者變得熱衷於一家企業是很常見的。
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
該公司的每股收益(隨時間的推移)如下圖所示(單擊可查看確切數字)。
![1724283931196](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240822/42692104-0-f73a751848a36501791ff380e9c2b1fe.webp/bigjpg)
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. Dive deeper into the earnings by checking this interactive graph of ChengDu Hi-Tech Development's earnings, revenue and cash flow.
我們很高興地報告,該公司的CEO的報酬比大多數同等資本化公司的CEO要適度一些。但是,儘管值得檢查CEO的報酬,真正重要的問題是公司能否在未來增長收入。通過查看成都高新發展的收益、營業收入和現金流的交互式圖表,深入了解收益情況。
A Different Perspective
不同的觀點
It's good to see that ChengDu Hi-Tech Development has rewarded shareholders with a total shareholder return of 153% in the last twelve months. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 32% 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. It's always interesting to track share price performance over the longer term. But to understand ChengDu Hi-Tech Development better, we need to consider many other factors. For instance, we've identified 3 warning signs for ChengDu Hi-Tech Development (2 are significant) that you should be aware of.
很高興看到成都高新發展在過去12個月中以總股東回報率的153%回報股東。當然,這其中包括股息。由於一年的TSR比五年的TSR要好(後者爲每年32%),似乎該股的表現在近期有所改善。鑑於股價勢頭依然強勁,或許值得更仔細地觀察這隻股票,以免錯失機會。長期追蹤股價表現總是很有趣。但要更好地了解成都高新發展,我們需要考慮許多其他因素。例如,我們已經發現了3個警示信號(其中有2個重要)需要注意。
For those who like to find winning investments this free list of undervalued companies with recent insider purchasing, could be just the ticket.
對於那些喜歡尋找獲勝投資的人來說,最近有內部購買的低估公司免費列表可能是一個很好的選擇。
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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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。