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The Three-year Underlying Earnings Growth at LBX Pharmacy Chain (SHSE:603883) Is Promising, but the Shareholders Are Still in the Red Over That Time

The Three-year Underlying Earnings Growth at LBX Pharmacy Chain (SHSE:603883) Is Promising, but the Shareholders Are Still in the Red Over That Time

LBX Pharmacy Chain公司(SHSE: 603883)的三年基礎收益增長令人鼓舞,但在此期間,股東仍處於虧損狀態
Simply Wall St ·  05/21 11:52

While it may not be enough for some shareholders, we think it is good to see the LBX Pharmacy Chain Joint Stock Company (SHSE:603883) share price up 11% in a single quarter. It's not great that the stock is down over the last three years. But that's not so bad when you consider its market is down 16%.

儘管這對某些股東來說可能還不夠,但我們認爲看到LBX連鎖藥房股份公司(SHSE: 603883)的股價在單季度內上漲11%是件好事。該股在過去三年中下跌並不是一件好事。但是,考慮到其市場下跌了16%,這還不錯。

After losing 4.3% this past week, it's worth investigating the company's fundamentals to see what we can infer from past performance.

在上週下跌4.3%之後,值得調查該公司的基本面,以了解我們可以從過去的表現中推斷出什麼。

To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.

用本傑明·格雷厄姆的話來說:從短期來看,市場是一臺投票機器,但從長遠來看,它是一臺稱重機。考慮市場對公司的看法發生了怎樣的變化的一種不完美但簡單的方法是將每股收益(EPS)的變化與股價走勢進行比較。

During the unfortunate three years of share price decline, LBX Pharmacy Chain actually saw its earnings per share (EPS) improve by 10% per year. This is quite a puzzle, and suggests there might be something temporarily buoying the share price. Or else the company was over-hyped in the past, and so its growth has disappointed.

在不幸的三年股價下跌中,LBX Pharmacy Chain的每股收益(EPS)實際上每年增長10%。這真是個難題,表明可能會有一些東西暫時提振股價。否則,該公司過去曾被過度炒作,因此其增長令人失望。

Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.

由於每股收益的變化似乎與股價的變化無關,因此值得一看其他指標。

With a rather small yield of just 1.5% we doubt that the stock's share price is based on its dividend. Revenue is actually up 18% over the three years, so the share price drop doesn't seem to hinge on revenue, either. This analysis is just perfunctory, but it might be worth researching LBX Pharmacy Chain more closely, as sometimes stocks fall unfairly. This could present an opportunity.

由於收益率相當低,僅爲1.5%,我們懷疑該股的股價是否基於其股息。在過去的三年中,收入實際上增長了18%,因此股價下跌似乎也不取決於收入。這種分析只是敷衍了事,但可能值得對LBX Pharmacy Chain進行更仔細的研究,因爲有時股票會不公平地下跌。這可能帶來機會。

The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).

下圖顯示了收入和收入隨時間推移的跟蹤情況(如果您點擊圖片,可以看到更多細節)。

earnings-and-revenue-growth
SHSE:603883 Earnings and Revenue Growth May 21st 2024
SHSE: 603883 收益和收入增長 2024 年 5 月 21 日

LBX Pharmacy Chain is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. So it makes a lot of sense to check out what analysts think LBX Pharmacy Chain will earn in the future (free analyst consensus estimates)

LBX Pharmacy Chain爲投資者所熟知,許多聰明的分析師都試圖預測未來的利潤水平。因此,看看分析師認爲LBX Pharmacy Chain未來將獲得多少收入很有意義(免費的分析師共識估計)

What About Dividends?

分紅呢?

As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, LBX Pharmacy Chain's TSR for the last 3 years was -14%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.

除了衡量股價回報率外,投資者還應考慮股東總回報率(TSR)。基於股息再投資的假設,股東總回報率納入了任何分拆或貼現資本籌集的價值以及任何股息。因此,對於支付豐厚股息的公司來說,股東總回報率通常遠高於股價回報率。碰巧的是,LBX Pharmacy Chain在過去3年的股東總回報率爲-14%,超過了前面提到的股價回報率。因此,該公司支付的股息提高了 股東回報。

A Different Perspective

不同的視角

It's good to see that LBX Pharmacy Chain has rewarded shareholders with a total shareholder return of 3.6% in the last twelve months. Of course, that includes the dividend. That gain is better than the annual TSR over five years, which is 1.6%. Therefore it seems like sentiment around the company has been positive lately. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. It's always interesting to track share price performance over the longer term. But to understand LBX Pharmacy Chain better, we need to consider many other factors. For example, we've discovered 1 warning sign for LBX Pharmacy Chain that you should be aware of before investing here.

很高興看到LBX Pharmacy Chain在過去十二個月中向股東提供了3.6%的總股東回報率。當然,這包括股息。這一增幅好於五年內的年度股東總回報率,即1.6%。因此,最近公司周圍的情緒似乎一直很樂觀。持樂觀態度的人可能會將最近股東總回報率的改善視爲業務本身隨着時間的推移而變得更好。長期跟蹤股價表現總是很有意思的。但是,要更好地了解LBX藥房連鎖店,我們需要考慮許多其他因素。例如,我們發現了LBX Pharmacy Chain的1個警告信號,在這裏投資之前,您應該注意這一點。

We will like LBX Pharmacy Chain better if we see some big insider buys. While we wait, check out this free list of undervalued stocks (mostly small caps) with considerable, recent, insider buying.

如果我們看到一些大規模的內幕收購,我們會更喜歡LBX藥房連鎖店。在我們等待的同時,請查看這份被低估的股票(主要是小盤股)的免費清單,這些股票最近有大量的內幕買盤。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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