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The 47% return delivered to Fufeng Group's (HKG:546) shareholders actually lagged YoY earnings growth
付峰集团(HKG:546)股东47%的回报率实际上落后于收益的同比增长

Simply Wall St ·  {{timeTz}}

Passive investing in index funds can generate returns that roughly match the overall market. But you can significantly boost your returns by picking above-average stocks. To wit, the Fufeng Group Limited (HKG:546) share price is 40% higher than it was a year ago, much better than the market decline of around 24% (not including dividends) in the same period. That's a solid performance by our standards! However, the longer term returns haven't been so impressive, with the stock up just 2.1% in the last three years.

被动投资指数基金可以产生与整体市场大致相当的回报。但你可以通过选择高于平均水平的股票来显著提高回报。也就是说,福丰集团有限公司(HKG:546)股价较一年前上涨40%,远好于同期约24%的市场跌幅(不包括股息)。以我们的标准来看,这是一场坚实的表演!然而,较长期的回报并不是那么令人印象深刻,该股在过去三年中仅上涨了2.1%。

On the back of a solid 7-day performance, let's check what role the company's fundamentals have played in driving long term shareholder returns.

在连续7天表现稳健的基础上,让我们来看看该公司的基本面在推动长期股东回报方面发挥了什么作用。

See our latest analysis for Fufeng Group

查看我们对福丰集团的最新分析

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.

本杰明·格雷厄姆(Benjamin Graham)的原话是:短期内,市场是一台投票机,但从长远来看,它是一台称重机。通过比较每股收益(EPS)和股价随时间的变化,我们可以感受到投资者对一家公司的态度随着时间的推移发生了怎样的变化。

During the last year Fufeng Group grew its earnings per share (EPS) by 103%. It's fair to say that the share price gain of 40% did not keep pace with the EPS growth. So it seems like the market has cooled on Fufeng Group, despite the growth. Interesting. This cautious sentiment is reflected in its (fairly low) P/E ratio of 6.61.

去年,阜丰集团的每股收益增长了103%。公平地说,40%的股价涨幅没有跟上每股收益的增长。因此,市场似乎对阜丰集团的态度有所降温,尽管该集团的业绩有所增长。有意思的。这种谨慎的情绪反映在(相当低的)市盈率6.61。

The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).

该公司的每股收益(在一段时间内)如下图所示(点击查看具体数字)。

SEHK:546 Earnings Per Share Growth May 2nd 2022
联交所:2022年5月2日每股收益增长546

It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here..

可能值得注意的是,我们在上个季度看到了大量的内幕收购,我们认为这是一个积极的因素。另一方面,我们认为收入和收益趋势是衡量业务的更有意义的指标。在买卖股票之前,我们总是建议仔细检查一下历史增长趋势,可在此处找到。

What About Dividends?

那股息呢?

It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Fufeng Group's TSR for the last 1 year was 47%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!

重要的是要考虑任何给定股票的总股东回报以及股价回报。虽然股价回报只反映股价的变动,但TSR包括股息的价值(假设股息再投资),以及任何折价集资或分拆所带来的利益。可以说,TSR更全面地描绘了一只股票产生的回报。恰好,阜丰集团最近1年的TSR为47%,超过了前面提到的股价回报。这在很大程度上是其股息支付的结果!

A Different Perspective

不同的视角

It's nice to see that Fufeng Group shareholders have received a total shareholder return of 47% over the last year. That's including the dividend. Notably the five-year annualised TSR loss of 0.8% per year compares very unfavourably with the recent share price performance. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. 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. Even so, be aware that Fufeng Group is showing 2 warning signs in our investment analysis , you should know about...

令人欣慰的是,福丰集团的股东在过去一年中获得了47%的总股东回报。这还包括股息。值得注意的是,与最近的股价表现相比,TSR每年0.8%的五年年化亏损非常糟糕。长期的亏损让我们保持谨慎,但短期的TSR收益肯定暗示着更光明的未来。虽然值得考虑市场状况对股价可能产生的不同影响,但还有其他更重要的因素。尽管如此,请注意,福丰集团在我们的投资分析中显示了2个警告信号,你应该知道...

If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).

如果你喜欢和管理层一起买股票,那么你可能会喜欢这本书免费公司名单。(提示:内部人士一直在买入这些股票)。

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on HK exchanges.

请注意,本文引用的市场回报反映了目前在香港交易所交易的股票的市场加权平均回报。

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.

对这篇文章有什么反馈吗?担心内容吗?保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
这篇由《华尔街日报》撰写的文章本质上是笼统的。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。简单地说,华尔街在提到的任何股票中都没有头寸。

本页的译文内容由软件翻译。富途将竭力但却不能保证翻译内容之准确和可靠,亦不会承担因任何不准确或遗漏而引起的任何损失或损害。

风险提示:以上内容仅作为作者或者嘉宾的观点,不代表富途的任何立场,不构成与富途相关的任何投资建议。在作出任何投资决定前,投资者应根据自身情况考虑投资产品相关的风险因素,并于需要时咨询专业投资顾问意见。富途竭力但不能证实上述内容的真实性、准确性和原创性,对此富途不做任何保证和承诺。

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