Singapore Post (SGX:S08) Sheds S$90m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Five Years
Singapore Post (SGX:S08) Sheds S$90m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Five Years
While not a mind-blowing move, it is good to see that the Singapore Post Limited (SGX:S08) share price has gained 20% in the last three months. But if you look at the last five years the returns have not been good. In fact, the share price is down 46%, which falls well short of the return you could get by buying an index fund.
雖然這不是一個令人驚歎的舉動,但很高興看到新加坡郵政有限公司(SGX:S08)股價在過去三個月中上漲了20%。但如果看過去五年的表現,收益並不理想。實際上,股價下跌了46%,遠遠低於購買指數基金可以獲得的回報。
Since Singapore Post has shed S$90m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.
新加坡郵政在過去7天內損失了新幣9000萬,讓我們看看是否比較長期的下降是由公司的經濟狀況驅動的。
There is no denying that markets are sometimes efficient, but prices do not always reflect 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.
市場有時候是有效的,但價格並不總是反映公司的基本業務表現。通過比較每股收益和股價變化,我們可以了解投資者對公司的看法如何隨着時間變化而變化。
During the five years over which the share price declined, Singapore Post's earnings per share (EPS) dropped by 13% each year. Notably, the share price has fallen at 11% per year, fairly close to the change in the EPS. That suggests that the market sentiment around the company hasn't changed much over that time. Rather, the share price has approximately tracked EPS growth.
在股價下跌的五年期間,新加坡郵政的每股收益(EPS)每年下降13%。值得注意的是,股價每年下跌11%,與EPS的變化非常接近。這表明市場對該公司的情緒在這段時間內並沒有太大變化。相反,股價大致跟蹤了EPS的增長。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下面的圖片中查看每股收益如何隨時間變化(單擊圖表以查看確切的價值)。
We know that Singapore Post has improved its bottom line lately, but is it going to grow revenue? This free report showing analyst revenue forecasts should help you figure out if the EPS growth can be sustained.
我們知道新加坡交易所最近改善了底線,但它是否將增長營業收入?這份顯示分析師營業收入預測的免費報告應該幫助您確定EPS增長是否能夠持續。
What About Dividends?
關於分紅派息的問題
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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for Singapore Post the TSR over the last 5 years was -40%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
考慮任何股票的總股東回報以及股價回報都很重要。而股價回報僅反映股價變化,TSR則包括分紅價值(假設已經再投資)以及任何折扣資本籌集或拆分的福利。可以說TSR爲支付股息的股票提供了更完整的圖片。我們注意到新加坡交易所過去5年的TSR爲-40%,比上面提到的股價回報更好。公司支付的股息因此提升了股東總回報。
A Different Perspective
另一種看法
Singapore Post shareholders gained a total return of 10% during the year. But that was short of the market average. But at least that's still a gain! Over five years the TSR has been a reduction of 7% per year, over five years. It could well be that the business is stabilizing. It's always interesting to track share price performance over the longer term. But to understand Singapore Post better, we need to consider many other factors. Case in point: We've spotted 1 warning sign for Singapore Post you should be aware of.
新加坡交易所股東在該年度獲得了10%的總回報。但這低於市場平均水平。但至少這仍然是一筆收益!在過去五年裏,TSR每年減少了7%。企業很可能正在穩定。長期跟蹤股價表現總是很有趣。但要更好地了解新加坡交易所,我們需要考慮許多其他因素。例如:我們發現了一項新加坡交易所的1個警示信號,您應該注意。
We will like Singapore Post 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額內部交易,我們會更喜歡新加坡郵政。在等待的時候,可以查看這份免費的未被充分價值認可的股票名單(主要是小盤股),這些股票最近有較大規模的內部交易。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Singaporean exchanges.
請注意,本文中引用的市場回報反映了當前在新加坡交易所上市股票的市場加權平均回報。
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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.
對這篇文章有反饋嗎?對內容感到擔憂嗎?請直接與我們聯繫。或者,發送電子郵件至editorial-team @ simplywallst.com。
Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。
譯文內容由第三人軟體翻譯。