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Investors five-year losses continue as Vtech Holdings (HKG:303) dips a further 9.2% this week, earnings continue to decline
Investors five-year losses continue as Vtech Holdings (HKG:303) dips a further 9.2% this week, earnings continue to decline
Ideally, your overall portfolio should beat the market average. But in any portfolio, there will be mixed results between individual stocks. So we wouldn't blame long term Vtech Holdings Limited (HKG:303) shareholders for doubting their decision to hold, with the stock down 53% over a half decade. And the share price decline continued over the last week, dropping some 9.2%.
With the stock having lost 9.2% in the past week, it's worth taking a look at business performance and seeing if there's any red flags.
See our latest analysis for Vtech Holdings
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 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.
Looking back five years, both Vtech Holdings' share price and EPS declined; the latter at a rate of 0.8% per year. Readers should note that the share price has fallen faster than the EPS, at a rate of 14% per year, over the period. This implies that the market was previously too optimistic about the stock. The less favorable sentiment is reflected in its current P/E ratio of 10.40.
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
SEHK:303 Earnings Per Share Growth July 15th 2022Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.
What About Dividends?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. As it happens, Vtech Holdings' TSR for the last 5 years was -27%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!
A Different Perspective
The total return of 19% received by Vtech Holdings shareholders over the last year isn't far from the market return of -21%. Unfortunately, last year's performance is a deterioration of an already poor long term track record, given the loss of 5% per year over the last five years. It will probably take a substantial improvement in the fundamental performance for the company to reverse this trend. 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. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Vtech Holdings , and understanding them should be part of your investment process.
But note: Vtech Holdings may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on HK 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.
理想情况下,你的整体投资组合应该超过市场平均水平。但在任何投资组合中,个股之间的结果都会喜忧参半。所以我们不会责怪长期伟易达集团有限公司(HKG:303)股东对他们持有股票的决定表示怀疑,该股在五年内下跌了53%。过去一周,股价继续下跌,跌幅约为9.2%。
鉴于该公司股价在过去一周下跌了9.2%,我们有必要看看它的业务表现,看看是否有任何危险信号。
查看我们对Vtech Holdings的最新分析
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。评估围绕一家公司的情绪变化的一个有缺陷但合理的方法是将每股收益(EPS)与股价进行比较。
回顾五年前,Vtech Holdings的股价和每股收益都出现了下降;后者以每年0.8%的速度下降。读者应该注意到,在此期间,苹果股价以每年14%的速度下跌,比每股收益下跌得更快。这暗示市场此前对该股过于乐观。这种不那么有利的情绪反映在其目前10.40的市盈率上。
您可以在下图中看到EPS是如何随着时间的推移而变化的(单击图表可查看精确值)。
联交所:2022年7月15日每股收益增长303在买卖股票之前,我们总是建议仔细研究一下历史增长趋势,可以在这里找到。
那股息呢?
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。TSR包括任何剥离或贴现融资的价值,以及任何股息,基于股息再投资的假设。公平地说,TSR为支付股息的股票提供了更完整的图景。碰巧的是,Vtech Holdings过去5年的TSR为-27%,超过了前面提到的股价回报。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!
不同的视角
Vtech Holdings股东过去一年的总回报率为19%,与-21%的市场回报率相距不远。不幸的是,考虑到过去五年每年5%的亏损,去年的业绩是对本已糟糕的长期记录的恶化。该公司可能需要基本面业绩的大幅改善才能扭转这一趋势。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。例如,考虑一下无处不在的投资风险幽灵。我们已经确定了两个警告信号与Vtech Holdings合作,了解他们应该是你投资过程的一部分。
但请注意:伟易达控股可能不是最值得购买的股票。所以让我们来看看这个免费过去有盈利增长(以及进一步增长预测)的有趣公司名单。
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。
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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