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Anhui Xinhua Media (SHSE:601801) Stock Performs Better Than Its Underlying Earnings Growth Over Last Three Years

Anhui Xinhua Media (SHSE:601801) Stock Performs Better Than Its Underlying Earnings Growth Over Last Three Years

安徽新華傳媒(SHSE: 601801)股票表現好於過去三年的基礎收益增長
Simply Wall St ·  05/21 08:12

One simple way to benefit from the stock market is to buy an index fund. But if you buy good businesses at attractive prices, your portfolio returns could exceed the average market return. For example, the Anhui Xinhua Media Co., Ltd. (SHSE:601801) share price is up 51% in the last three years, clearly besting the market decline of around 20% (not including dividends).

從股票市場中獲益的一種簡單方法是購買指數基金。但是,如果你以誘人的價格收購優秀的企業,你的投資組合回報率可能會超過平均市場回報。例如,安徽新華傳媒股份有限公司(SHSE: 601801)的股價在過去三年中上漲了51%,明顯超過了市場20%左右的跌幅(不包括股息)。

After a strong gain in the past week, it's worth seeing if longer term returns have been driven by improving fundamentals.

在過去一週強勁上漲之後,值得一看的是長期回報是否是由基本面改善推動的。

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.

雖然市場是一種強大的定價機制,但股價反映了投資者的情緒,而不僅僅是潛在的業務表現。通過比較每股收益(EPS)和一段時間內的股價變化,我們可以了解投資者對公司的態度是如何隨着時間的推移而變化的。

During three years of share price growth, Anhui Xinhua Media achieved compound earnings per share growth of 11% per year. This EPS growth is lower than the 15% average annual increase in the share price. This indicates that the market is feeling more optimistic on the stock, after the last few years of progress. It's not unusual to see the market 're-rate' a stock, after a few years of growth.

在三年的股價增長中,安徽新華傳媒實現了每年11%的複合每股收益增長。每股收益的增長低於股價平均年增長15%。這表明,在過去幾年的進展之後,市場對該股感到更加樂觀。在經歷了幾年的增長之後,市場對股票進行 “重新評級” 的情況並不少見。

The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).

下圖顯示了 EPS 在一段時間內的跟蹤情況(如果你點擊圖片,你可以看到更多細節)。

earnings-per-share-growth
SHSE:601801 Earnings Per Share Growth May 21st 2024
SHSE: 601801 每股收益增長 2024 年 5 月 21 日

We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. This free interactive report on Anhui Xinhua Media's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

我們很高興地向大家報告,首席執行官的薪酬比資本相似公司的大多數首席執行官要適中。但是,儘管首席執行官的薪酬總是值得檢查的,但真正重要的問題是公司未來能否增加收益。如果你想進一步調查該股,這份關於安徽新華傳媒收益、收入和現金流的免費互動報告是一個很好的起點。

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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Anhui Xinhua Media the TSR over the last 3 years was 65%, which is better than the share price return mentioned above. 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。可以說,股東總回報率更全面地描述了股票產生的回報。我們注意到,安徽新華傳媒過去3年的股東總回報率爲65%,好於上述股價回報率。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

While the broader market lost about 8.7% in the twelve months, Anhui Xinhua Media shareholders did even worse, losing 11% (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 7%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. It's always interesting to track share price performance over the longer term. But to understand Anhui Xinhua Media better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Anhui Xinhua Media (at least 1 which can't be ignored) , and understanding them should be part of your investment process.

儘管整個市場在十二個月中下跌了約8.7%,但安徽新華傳媒股東的表現甚至更糟,損失了11%(甚至包括股息)。話雖如此,在下跌的市場中,一些股票不可避免地會被超賣。關鍵是要密切關注基本發展。長期投資者不會那麼沮喪,因爲他們本可以在五年內每年賺7%。如果基本面數據繼續顯示長期可持續增長,那麼當前的拋售可能是一個值得考慮的機會。長期跟蹤股價表現總是很有意思的。但是,要更好地了解安徽新華媒體,我們需要考慮許多其他因素。例如,投資風險的幽靈無處不在。我們已經向安徽新華傳媒確定了兩個警告信號(至少有一個不容忽視),了解它們應該是你投資過程的一部分。

If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.

如果你想看看另一家公司——一家財務狀況可能優異的公司——那麼千萬不要錯過這份已經證明自己可以增加收益的公司的免費名單。

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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