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Xiamen C&D's (SHSE:600153) Investors Will Be Pleased With Their Respectable 43% Return Over the Last Three Years

Xiamen C&D's (SHSE:600153) Investors Will Be Pleased With Their Respectable 43% Return Over the Last Three Years

廈門建發(SHSE:600153)的投資者在過去三年中將對其43%的可觀回報感到滿意
Simply Wall St ·  2024/12/12 12:51

By buying an index fund, you can roughly match the market return with ease. But if you choose individual stocks with prowess, you can make superior returns. Just take a look at Xiamen C&D Inc. (SHSE:600153), which is up 18%, over three years, soundly beating the market decline of 17% (not including dividends). On the other hand, the returns haven't been quite so good recently, with shareholders up just 11%, including dividends.

通過購買指數基金,您可以輕鬆匹配市場回報。但如果您選擇個別股票並具備能力,您可以獲得更高的回報。只需看看建發股份(SHSE:600153),在過去三年中上漲了18%,遠高於市場下跌17%的表現(不包括分紅派息)。另一方面,最近的回報並不是很好,股東的回報僅爲11%,包括分紅派息。

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.

鑑於此,值得看看該公司的基本面是否一直是長期業績的驅動因素,或者是否存在一些不一致之處。

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. 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.

儘管市場是一個強大的定價機制,股價反映了投資者情緒,而不僅僅是基礎業務表現。 通過比較每股收益(EPS)和股價的變化,我們可以感受到投資者對公司的態度是如何隨時間演變的。

During the three years of share price growth, Xiamen C&D actually saw its earnings per share (EPS) drop 19% per year.

在這三年的股價增長中,建發股份的每股收益(EPS)實際上每年下降了19%。

So we doubt that the market is looking to EPS for its main judge of the company's value. Therefore, we think it's worth considering other metrics as well.

因此,我們懷疑市場是否將每股收益作爲判斷公司價值的主要標準。因此,我們認爲值得考慮其他指標。

Interestingly, the dividend has increased over time; so that may have given the share price a boost. Sometimes yield-chasing investors will flock to a company if they think the dividend can grow over time.

有趣的是,分紅派息隨着時間的推移而增加;這可能推動了股價的上漲。有時,追求收益的投資者會聚集到一家公司,假如他們認爲分紅派息會逐漸增長。

You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).

您可以在下面的圖像中查看收益和營業收入隨時間的變化(點擊圖表查看確切值)。

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SHSE:600153 Earnings and Revenue Growth December 12th 2024
SHSE:600153 每股收益和營業收入增長 2024年12月12日

This free interactive report on Xiamen C&D's balance sheet strength is a great place to start, if you want to investigate the stock further.

這份關於建發股份資產負債表實力的免費互動報告是一個很好的起點,如果你想進一步調查這隻股票。

What About Dividends?

關於分紅派息的問題

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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Xiamen C&D, it has a TSR of 43% 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!

考慮任何特定股票的總股東回報以及股價回報非常重要。總股東回報包括了任何分拆或折扣融資的價值,以及任何分紅派息,基於分紅派息被再投資的假設。可以公平地說,總股東回報爲支付分紅派息的股票提供了更全面的視圖。在建發股份的案例中,過去三年其總股東回報爲43%。這超出了我們之前提到的股價回報。並且,猜測分紅派息很大程度上解釋了二者間的差異也沒有獎勵!

A Different Perspective

不同的視角

Xiamen C&D provided a TSR of 11% over the last twelve months. Unfortunately this falls short of the market return. On the bright side, that's still a gain, and it's actually better than the average return of 10% over half a decade This suggests the company might be improving over time. 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. To that end, you should be aware of the 3 warning signs we've spotted with Xiamen C&D .

建發股份在過去十二個月的總回報率爲11%。不幸的是,這低於市場收益。好的一面是,這仍然是一個收益,其實超過了過去五年10%的平均回報。這表明該公司可能在不斷改善。雖然考慮市場條件對股價的不同影響非常重要,但還有其他因素更加重要。因此,您應該注意我們發現的建發股份的三個警告信號。

If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.

如果你像我一樣,那麼你一定不想錯過這份內部人士正在購買的被低估的小型股免費名單。

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,本文中引用的市場回報反映了目前在中國交易所交易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?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall St的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均沒有持倉。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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