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Investors in Shenwan Hongyuan Group (SZSE:000166) have unfortunately lost 20% over the last five years
Investors in Shenwan Hongyuan Group (SZSE:000166) have unfortunately lost 20% over the last five years
The main aim of stock picking is to find the market-beating stocks. But even the best stock picker will only win with some selections. At this point some shareholders may be questioning their investment in Shenwan Hongyuan Group Co., Ltd. (SZSE:000166), since the last five years saw the share price fall 25%.
It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that.
Check out our latest analysis for Shenwan Hongyuan Group
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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.
While the share price declined over five years, Shenwan Hongyuan Group actually managed to increase EPS by an average of 3.4% 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.
By glancing at these numbers, we'd posit that the the market had expectations of much higher growth, five years ago. Looking to other metrics might better explain the share price change.
In contrast to the share price, revenue has actually increased by 22% a year in the five year 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.
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
SZSE:000166 Earnings and Revenue Growth June 28th 2022This free interactive report on Shenwan Hongyuan Group's balance sheet strength is a great place to start, if you want to investigate the stock further.
What About Dividends?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. In the case of Shenwan Hongyuan Group, it has a TSR of -20% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
A Different Perspective
The total return of 7.1% received by Shenwan Hongyuan Group shareholders over the last year isn't far from the market return of -7.4%. So last year was actually even worse than the last five years, which cost shareholders 4% per year. Weak performance over the long term usually destroys market confidence in a stock, but bargain hunters may want to take a closer look for signs of a turnaround. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Like risks, for instance. Every company has them, and we've spotted 2 warning signs for Shenwan Hongyuan Group (of which 1 shouldn't be ignored!) you should know about.
Of course Shenwan Hongyuan Group may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CN exchanges.
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.
The main aim of stock picking is to find the market-beating stocks. But even the best stock picker will only win with some selections. At this point some shareholders may be questioning their investment in Shenwan Hongyuan Group Co., Ltd. (SZSE:000166), since the last five years saw the share price fall 25%.
选股的主要目的是寻找跑赢大盘的股票。但即使是最好的选股者也只有在一些选择。在这一点上,一些股东可能会质疑他们在申万宏源集团有限公司。(SZSE:000166),自过去五年股价下跌25%.
It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that.
值得评估的是,该公司的经济状况是否一直与这些平淡无奇的股东回报同步,或者两者之间是否存在一些差距。所以我们就这么做吧。
Check out our latest analysis for Shenwan Hongyuan Group
查看我们对申万宏源集团的最新分析
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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.
在他的文章中格雷厄姆和多德斯维尔的超级投资者沃伦·巴菲特描述了股价并不总是理性地反映一家企业的价值。一种不完美但简单的方法来考虑市场对一家公司的看法是如何改变的,那就是将每股收益(EPS)的变化与股价走势进行比较。
While the share price declined over five years, Shenwan Hongyuan Group actually managed to increase EPS by an average of 3.4% 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.
当股价在五年内下跌时,申万宏源集团实际上成功地增加每股收益平均每年增长3.4%。因此,每股收益似乎并不能很好地指导人们理解市场对股票的估值。或者,增长预期在过去可能是不合理的。
By glancing at these numbers, we'd posit that the the market had expectations of much higher growth, five years ago. Looking to other metrics might better explain the share price change.
通过浏览这些数字,我们可以假设,五年前,市场曾预期会有更高的增长。看看其他指标可能更好地解释了股价的变化。
In contrast to the share price, revenue has actually increased by 22% a year in the five year 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.
与股价形成对比的是,在这五年期间,营收实际上以每年22%的速度增长。对营收和收益进行更详细的审查,可能会解释股价低迷的原因,也可能解释不了;可能会有机会。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
该公司的收入和收益(随着时间的推移)如下图所示(点击查看具体数字)。
This free interactive report on Shenwan Hongyuan Group's balance sheet strength is a great place to start, if you want to investigate the stock further.
这免费如果你想进一步调查该股,关于申万宏源集团资产负债表实力的互动报告是一个很好的起点。
What About Dividends?
那股息呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. In the case of Shenwan Hongyuan Group, it has a TSR of -20% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
在考察投资回报时,重要的是要考虑到股东总回报(TSR)和股价回报。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。公平地说,TSR为支付股息的股票提供了更完整的图景。以申万宏源集团为例,其最近5年的总资产收益率为-20%。这超过了我们之前提到的它的股价回报。而且,猜测股息支付在很大程度上解释了这种差异是没有好处的!
A Different Perspective
不同的视角
The total return of 7.1% received by Shenwan Hongyuan Group shareholders over the last year isn't far from the market return of -7.4%. So last year was actually even worse than the last five years, which cost shareholders 4% per year. Weak performance over the long term usually destroys market confidence in a stock, but bargain hunters may want to take a closer look for signs of a turnaround. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Like risks, for instance. Every company has them, and we've spotted 2 warning signs for Shenwan Hongyuan Group (of which 1 shouldn't be ignored!) you should know about.
申万宏源集团股东过去一年的总回报率为7.1%,与-7.4%的市场回报率相差不远。因此,去年实际上比过去五年还要糟糕,过去五年股东每年损失4%。长期表现疲软通常会摧毁市场对一只股票的信心,但逢低买入者可能希望更仔细地寻找好转的迹象。我发现,把股价作为衡量企业业绩的长期指标是非常有趣的。但为了真正获得洞察力,我们还需要考虑其他信息。比如风险。每家公司都有它们,我们已经发现申万宏源集团的2个警示标志(其中1个不应该被忽视!)你应该知道。
Of course Shenwan Hongyuan Group may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
当然了申万宏源集团可能不是最值得买入的股票。所以你可能想看看这个免费成长型股票的集合。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CN exchanges.
请注意,本文引用的市场回报反映了目前在CN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。
本文由Simply Wall St.撰写,具有概括性。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。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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