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3.9% Earnings Growth Over 5 Years Has Not Materialized Into Gains for Anhui Quanchai Engine (SHSE:600218) Shareholders Over That Period

3.9% Earnings Growth Over 5 Years Has Not Materialized Into Gains for Anhui Quanchai Engine (SHSE:600218) Shareholders Over That Period

5年內3.9%的收益增長尚未轉化爲安徽全柴發動機(SHSE: 600218)股東在此期間的收益
Simply Wall St ·  03/29 07:14

Ideally, your overall portfolio should beat the market average. But even the best stock picker will only win with some selections. At this point some shareholders may be questioning their investment in Anhui Quanchai Engine Co., Ltd. (SHSE:600218), since the last five years saw the share price fall 32%. The falls have accelerated recently, with the share price down 17% in the last three months.

理想情況下,您的整體投資組合應超過市場平均水平。但是,即使是最好的選股者也只能通過以下方式獲勝 一些 選擇。此時,一些股東可能會質疑他們對安徽全柴發動機有限公司(SHSE: 600218)的投資,因爲在過去五年中,股價下跌了32%。最近跌勢加速,股價在過去三個月中下跌了17%。

If the past week is anything to go by, investor sentiment for Anhui Quanchai Engine isn't positive, so let's see if there's a mismatch between fundamentals and the share price.

如果說過去一週有意義的話,投資者對安徽全柴發動機的情緒並不樂觀,所以讓我們看看基本面和股價之間是否存在不匹配的情況。

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 flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.

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。評估公司情緒變化的一種有缺陷但合理的方法是將每股收益(EPS)與股價進行比較。

While the share price declined over five years, Anhui Quanchai Engine actually managed to increase EPS by an average of 21% per year. So it doesn't seem like EPS is a great guide to understanding how the market is valuing the stock. Alternatively, growth expectations may have been unreasonable in the past.

儘管股價在五年內下跌,但安徽全柴發動機實際上設法做到了 增加 每股收益平均每年增長21%。因此,每股收益似乎不是了解市場如何估值股票的好指南。或者,過去的增長預期可能不合理。

Due to the lack of correlation between the EPS growth and the falling share price, it's worth taking a look at other metrics to try to understand the share price movement.

由於每股收益增長與股價下跌之間缺乏相關性,值得一看其他指標,以了解股價走勢。

The modest 1.0% dividend yield is unlikely to be guiding the market view of the stock. Revenue is actually up 8.9% over the time period. A more detailed examination of the revenue and earnings may or may not explain why the share price languishes; there could be an opportunity.

1.0%的適度股息收益率不太可能指導該股的市場觀點。在此期間,收入實際上增長了8.9%。對收入和收益進行更詳細的審查可能會也可能無法解釋股價下跌的原因;可能有機會。

The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).

公司的收入和收益(隨着時間的推移)如下圖所示(點擊查看確切數字)。

earnings-and-revenue-growth
SHSE:600218 Earnings and Revenue Growth March 28th 2024
SHSE: 600218 收益和收入增長 2024 年 3 月 28 日

This free interactive report on Anhui Quanchai Engine's balance sheet strength is a great place to start, if you want to investigate the stock further.

如果你想進一步調查安徽全柴發動機資產負債表實力,這份關於安徽全柴發動機資產負債表實力的免費互動報告是一個很好的起點。

What About Dividends?

分紅呢?

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. We note that for Anhui Quanchai Engine the TSR over the last 5 years was -30%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!

重要的是要考慮任何給定股票的股東總回報率和股價回報率。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。可以公平地說,股東總回報率爲支付股息的股票提供了更完整的畫面。我們注意到,安徽全柴發動機在過去5年的股東總回報率爲-30%,好於上述股價回報率。這在很大程度上是其股息支付的結果!

A Different Perspective

不同的視角

While it's never nice to take a loss, Anhui Quanchai Engine shareholders can take comfort that , including dividends,their trailing twelve month loss of 11% wasn't as bad as the market loss of around 15%. Given the total loss of 5% per year over five years, it seems returns have deteriorated in the last twelve months. While some investors do well specializing in buying companies that are struggling (but nonetheless undervalued), don't forget that Buffett said that 'turnarounds seldom turn'. 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. For instance, we've identified 2 warning signs for Anhui Quanchai Engine that you should be aware of.

儘管虧損從來都不是一件好事,但安徽全柴發動機的股東可以放心,包括股息在內,他們過去十二個月的11%虧損沒有市場損失15%左右那麼嚴重。鑑於五年內每年的總損失爲5%,在過去的十二個月中,回報似乎有所惡化。儘管一些投資者在專門收購陷入困境(但仍被低估)的公司方面表現良好,但不要忘記巴菲特說過 “轉機很少會轉機”。儘管市場狀況可能對股價產生的不同影響值得考慮,但還有其他因素更爲重要。例如,我們已經確定了安徽全柴發動機的兩個警告標誌,你應該注意這兩個警示標誌。

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

如果你像我一樣,那麼你不會想錯過這份業內人士正在收購的成長型公司的免費名單。

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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