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Shanxi Coal International Energy GroupLtd's (SHSE:600546) Five-year Total Shareholder Returns Outpace the Underlying Earnings Growth

Shanxi Coal International Energy GroupLtd's (SHSE:600546) Five-year Total Shareholder Returns Outpace the Underlying Earnings Growth

山西证券供股煤国际能源集团有限公司(SHSE:600546)的五年总股东回报超出了其基础收益增长
Simply Wall St ·  2024/11/22 19:51

When you buy a stock there is always a possibility that it could drop 100%. But on the bright side, if you buy shares in a high quality company at the right price, you can gain well over 100%. Long term Shanxi Coal International Energy Group Co.,Ltd (SHSE:600546) shareholders would be well aware of this, since the stock is up 102% in five years. It's also good to see the share price up 10% over the last quarter. But this move may well have been assisted by the reasonably buoyant market (up 29% in 90 days).

当你买入一只股票时,总有可能它会跌到100%。但是好的一面是,如果你在适当的价格买入一家高质量公司的股票,你可以获得超过100%的收益。长期以来,山煤国际能源集团有限公司(SHSE:600546)的股东对此应该很清楚,因为该股票在五年内上涨了102%。同样高兴的是,该股票在过去一个季度上涨了10%。但这一走势可能得益于市场相对活跃(在90天内上涨了29%)。

While this past week has detracted from the company's five-year return, let's look at the recent trends of the underlying business and see if the gains have been in alignment.

虽然过去的一周削弱了公司的五年回报,但让我们看看业务的最近趋势,并查看收益是否已对齐。

To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. 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.

引用本杰明·格雷厄姆的话:在短期内,市场是投票机,但在长期内,市场是称重机。通过比较每股收益(EPS)和股票价格的时间变化,我们可以感受到投资者对公司的态度随时间而变化。

During five years of share price growth, Shanxi Coal International Energy GroupLtd achieved compound earnings per share (EPS) growth of 31% per year. The EPS growth is more impressive than the yearly share price gain of 15% over the same period. Therefore, it seems the market has become relatively pessimistic about the company. This cautious sentiment is reflected in its (fairly low) P/E ratio of 10.52.

在五年的股价增长中,山煤国际能源集团有限公司实现了每股收益(EPS)年增长31%的复合增长率。EPS的增长比同期每年15%的股价涨幅更为显著。因此,市场似乎对该公司变得相对悲观。这种谨慎的情绪反映在其相对低的市盈率10.52中。

The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).

下图显示了EPS随时间的变化情况(如果您单击该图像,则可以查看更多详细信息)。

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SHSE:600546 Earnings Per Share Growth November 23rd 2024
上海证券交易所:600546 每股收益增长 2024年11月23日

This free interactive report on Shanxi Coal International Energy GroupLtd's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

如果你想进一步研究这只股票,可以从这份关于山煤国际的收益、营业收入和现金流的免费互动报告开始。

What About Dividends?

关于分红派息的问题

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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Shanxi Coal International Energy GroupLtd's TSR for the last 5 years was 166%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.

在考虑投资回报时,重要的是考虑总股东回报(TSR)和股票价格回报之间的区别。TSR包含任何剥离或折扣融资的价值,以及任何分红,前提是这些分红被再投资。可以说,TSR提供了一个更全面的股票回报图景。实际上,山煤国际过去5年的TSR为166%,超过了之前提到的股票价格回报。公司支付的分红因此提升了总股东回报。

A Different Perspective

另一种看法

Shanxi Coal International Energy GroupLtd shareholders are down 28% for the year (even including dividends), but the market itself is up 7.6%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 22%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. It's always interesting to track share price performance over the longer term. But to understand Shanxi Coal International Energy GroupLtd better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Shanxi Coal International Energy GroupLtd , and understanding them should be part of your investment process.

山煤国际的股东今年下跌了28%(即使考虑分红),但市场整体上涨了7.6%。但是,请记住,即使是最好的股票在一年内有时也会表现不佳。长期投资者可能不会太失望,因为他们在五年内每年赚取了22%。如果基本数据继续表明长期可持续增长,目前的抛售可能是一个值得考虑的机会。跟踪长期的股票价格表现总是很有趣。但要更好地理解山煤国际,我们需要考虑许多其他因素。比如,投资风险的无处不在。我们已经确定了山煤国际的2个警告信号,理解它们应该是你投资过程的一部分。

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,本文中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.

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