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China Power International Development (HKG:2380) Shareholders Are Still up 175% Over 3 Years Despite Pulling Back 13% in the Past Week
China Power International Development (HKG:2380) Shareholders Are Still up 175% Over 3 Years Despite Pulling Back 13% in the Past Week
While China Power International Development Limited (HKG:2380) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 19% in the last quarter. But in three years the returns have been great. The share price marched upwards over that time, and is now 128% higher than it was. After a run like that some may not be surprised to see prices moderate. Only time will tell if there is still too much optimism currently reflected in the share price.
In light of the stock dropping 13% in the past week, we want to investigate the longer term story, and see if fundamentals have been the driver of the company's positive three-year return.
Check out our latest analysis for China Power International Development
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' 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.
Over the last three years, China Power International Development failed to grow earnings per share, which fell 59% (annualized).
This means it's unlikely the market is judging the company based on earnings growth. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.
The modest 1.4% dividend yield is unlikely to be propping up the share price. It may well be that China Power International Development revenue growth rate of 13% over three years has convinced shareholders to believe in a brighter future. In that case, the company may be sacrificing current earnings per share to drive growth, and maybe shareholder's faith in better days ahead will be rewarded.
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
SEHK:2380 Earnings and Revenue Growth September 19th 2022China Power International Development is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. So we recommend checking out this free report showing consensus forecasts
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 is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, China Power International Development's TSR for the last 3 years was 175%, 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
We're pleased to report that China Power International Development shareholders have received a total shareholder return of 29% over one year. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 17% per year), it would seem that the stock's performance has improved in recent times. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. 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. Take risks, for example - China Power International Development has 2 warning signs (and 1 which makes us a bit uncomfortable) we think you should know about.
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.
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.
而当中国电力国际发展有限公司(HKG:2380)股东可能普遍满意,该股最近表现不是特别好,股价在上个季度下跌了19%。但在三年的时间里,回报一直很高。在那段时间里,该公司股价一路上扬,现在比过去高出128%。在经历了这样的涨势后,一些人可能不会对价格放缓感到惊讶。目前反映在股价中的乐观情绪是否仍然过多,只有时间才能证明。
鉴于该公司股价在过去一周下跌了13%,我们希望调查更长期的情况,看看基本面因素是否是该公司三年来正回报的驱动因素。
查看我们对中国电力国际发展的最新分析
用巴菲特的话说,“船只将在世界各地航行,但平坦的地球协会将蓬勃发展。市场上的价格和价值之间将继续存在巨大的差异……”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。
在过去的三年里,中国电力国际发展未能实现每股收益的增长,按年率计算下降了59%。
这意味着市场不太可能根据盈利增长来评判该公司。由于每股收益的变化似乎与股价的变化没有相关性,因此值得看看其他指标。
1.4%的适度股息收益率不太可能支撑股价。中国电力国际发展三年来13%的营收增长率很可能让股东们相信了更光明的未来。在这种情况下,该公司可能会牺牲当前的每股收益来推动增长,或许股东对未来更好日子的信心将得到回报。
您可以在下图中看到收益和收入随时间的变化(单击图表查看确切的值)。
联交所:2022年9月19日盈利及收入增长2380中国电力国际发展为投资者所熟知,许多聪明的分析师曾试图预测未来的利润水平。因此,我们建议您查看以下内容免费显示共识预测的报告
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是一种回报计算,计入了现金股息的价值(假设收到的任何股息都进行了再投资),以及任何贴现融资和剥离的计算价值。可以说,TSR更全面地描绘了一只股票产生的回报。碰巧的是,中国电力国际发展最近三年的TSR为175%,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
我们很高兴地报告,中国电力国际发展的股东在一年内获得了29%的总股东回报。当然,这包括股息。由于一年期的TSR好于五年期的TSR(后者的年收益率为17%),看起来该股的表现最近有所改善。持乐观观点的人可能会认为,最近TSR的改善表明,业务本身正在随着时间的推移而变得更好。虽然值得考虑市场状况对股价可能产生的不同影响,但还有其他更重要的因素。以风险为例--中国电力国际发展有限公司2个警告标志(这让我们有点不舒服)我们认为你应该知道这一点。
如果你更愿意看看另一家公司--一家财务状况可能更好的公司--那么不要错过这一点免费已证明自己能够实现盈利增长的公司名单。
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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