AVIC Heavy Machinery (SHSE:600765) Shareholders Have Earned a 59% CAGR Over the Last Three Years
AVIC Heavy Machinery (SHSE:600765) Shareholders Have Earned a 59% CAGR Over the Last Three Years
For us, stock picking is in large part the hunt for the truly magnificent stocks. Mistakes are inevitable, but a single top stock pick can cover any losses, and so much more. One bright shining star stock has been AVIC Heavy Machinery Co., Ltd. (SHSE:600765), which is 300% higher than three years ago. In contrast, the stock has fallen 8.3% in the last 30 days. We note that the broader market is down 1.1% in the last month, and this may have impacted AVIC Heavy Machinery's share price.
对我们来说，选股在很大程度上就是寻找真正优秀的股票。错误是不可避免的，但是一个头号选股可以弥补任何损失，甚至更多。一只闪亮的明星股票是 中航重型机械有限公司 （SHSE: 600765），比三年前增长了300％。相比之下，该股在过去30天内下跌了8.3％。我们注意到，上个月整个市场下跌了1.1％，这可能影响了中航重型机械的股价。
So let's assess the underlying fundamentals over the last 3 years and see if they've moved in lock-step with shareholder returns.
因此，让我们评估过去3年的基本面，看看它们是否与股东回报步调一致。
Check out our latest analysis for AVIC Heavy Machinery
查看我们对中航重型机械的最新分析
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.
用本杰明·格雷厄姆的话来说：从短期来看，市场是一台投票机器，但从长远来看，它是一台称重机。通过比较每股收益（EPS）和一段时间内的股价变化，我们可以了解投资者对公司的态度是如何随着时间的推移而变化的。
During three years of share price growth, AVIC Heavy Machinery achieved compound earnings per share growth of 40% per year. In comparison, the 59% per year gain in the share price outpaces the EPS growth. This suggests that, as the business progressed over the last few years, it gained the confidence of market participants. It is quite common to see investors become enamoured with a business, after a few years of solid progress.
在三年的股价增长中，中航重机实现了每年40％的复合每股收益增长。相比之下，股价每年59％的涨幅超过了每股收益的增长。这表明，随着业务在过去几年中的发展，它获得了市场参与者的信心。在经历了几年的稳步发展之后，投资者对企业着迷是很常见的。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下图中看到 EPS 随时间推移的变化（点击图表查看确切值）。
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized 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. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here..
我们很高兴地向大家报告，首席执行官的薪水比资本相似公司的大多数首席执行官都要适中。一直值得关注首席执行官的薪酬，但更重要的问题是公司多年来是否会增加收益。在买入或卖出股票之前，我们始终建议仔细研究历史增长趋势，可在此处查阅。
What About Dividends?
分红呢？
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of AVIC Heavy Machinery, it has a TSR of 305% for the last 3 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.
除了衡量股价回报外，投资者还应考虑股东总回报（TSR）。股东总回报率是一种回报计算方法，它考虑了现金分红的价值（假设收到的任何股息都是再投资）以及任何折扣资本筹集和分拆的计算值。可以说，TSR更全面地描述了股票产生的回报。就中航重型机械而言，其过去3年的股东总回报率为305％。这超过了我们之前提到的股价回报率。因此，该公司支付的股息提高了 总 股东回报。
A Different Perspective
不同的视角
While the broader market lost about 1.4% in the twelve months, AVIC Heavy Machinery shareholders did even worse, losing 8.1% (even including dividends). Having said that, it's inevitable that some stocks will be oversold in a falling market. The key is to keep your eyes on the fundamental developments. Longer term investors wouldn't be so upset, since they would have made 32%, each year, over five years. 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. 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 1 warning sign we've spotted with AVIC Heavy Machinery .
尽管整个市场在十二个月内下跌了约1.4％，但中航重机股东的表现甚至更糟，损失了8.1％（甚至包括股息）。话虽如此，在下跌的市场中，一些股票不可避免地会被超卖。关键是要密切关注基本面的事态发展。长期投资者不会那么沮丧，因为他们将在五年内每年赚到32％。最近的抛售可能是一个机会，因此可能值得查看基本面数据，寻找长期增长趋势的迹象。尽管值得考虑市场状况可能对股价产生的不同影响，但还有其他更为重要的因素。为此，你应该意识到 1 个警告标志 我们发现了中航重型机械。
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
对于那些喜欢寻找的人 获胜的投资 这个 免费的 最近进行内幕收购的成长型公司名单可能只是门票。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CN exchanges.
请注意，本文引用的市场回报反映了目前在CN交易所交易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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Simply Wall St 的这篇文章本质上是笼统的。 我们仅使用公正的方法根据历史数据和分析师的预测提供评论，我们的文章无意作为财务建议。 它不构成买入或卖出任何股票的建议，也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。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。简而言之，华尔街在上述任何股票中都没有头寸。
译文内容由第三方软件翻译。