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Shareholders in Zhejiang Supor (SZSE:002032) Are in the Red If They Invested Three Years Ago

Shareholders in Zhejiang Supor (SZSE:002032) Are in the Red If They Invested Three Years Ago

如果三年前投资,浙江苏泊尔(SZSE: 002032)的股东就会陷入亏损
Simply Wall St ·  2023/11/03 20:05

In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But if you try your hand at stock picking, your risk returning less than the market. Unfortunately, that's been the case for longer term Zhejiang Supor Co., Ltd. (SZSE:002032) shareholders, since the share price is down 32% in the last three years, falling well short of the market decline of around 13%.

为了证明选择个股的努力是合理的,值得努力击败市场指数基金的回报。但是,如果你尝试选股,你的风险回报将小于市场。不幸的是,浙江苏泊尔股份有限公司(SZSE:002032)的长期股东就是这种情况,因为股价在过去三年中下跌了32%,远低于13%左右的市场跌幅。

With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.

考虑到这一点,值得一看公司的基本面是否是长期业绩的驱动力,或者是否存在一些差异。

View our latest analysis for Zhejiang Supor

查看我们对浙江苏泊尔的最新分析

There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.

不可否认,市场有时是有效的,但价格并不总是能反映潜在的业务表现。考虑市场对公司的看法发生了怎样的变化的一种不完美但简单的方法是将每股收益(EPS)的变化与股价走势进行比较。

During the unfortunate three years of share price decline, Zhejiang Supor actually saw its earnings per share (EPS) improve by 7.5% per year. This is quite a puzzle, and suggests there might be something temporarily buoying the share price. Or else the company was over-hyped in the past, and so its growth has disappointed.

在不幸的三年股价下跌中,浙江苏泊尔的每股收益(EPS)实际上每年增长7.5%。这真是个难题,表明股价可能会暂时上涨。否则,该公司过去曾被过度炒作,因此其增长令人失望。

It's worth taking a look at other metrics, because the EPS growth doesn't seem to match with the falling share price.

值得一看其他指标,因为每股收益的增长似乎与股价的下跌不符。

We note that the dividend seems healthy enough, so that probably doesn't explain the share price drop. Revenue has been pretty flat over three years, so that isn't an obvious reason shareholders would sell. So it might be worth looking at how revenue growth over time, in greater detail.

我们注意到,股息似乎足够健康,因此这可能并不能解释股价下跌的原因。三年来,收入一直相当持平,因此这并不是股东抛售的明显原因。因此,可能值得更详细地研究一段时间内的收入增长情况。

The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).

下图描述了收入和收入随时间推移而发生的变化(点击图片即可显示确切的数值)。

earnings-and-revenue-growth
SZSE:002032 Earnings and Revenue Growth November 4th 2023
深圳证券交易所:002032 收益和收入增长 2023年11月4日

Zhejiang Supor is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. So it makes a lot of sense to check out what analysts think Zhejiang Supor will earn in the future (free analyst consensus estimates)

浙江苏泊尔为投资者所熟知,许多聪明的分析师都试图预测未来的利润水平。因此,看看分析师认为浙江苏泊尔未来将获得多少收益很有意义(免费分析师共识估计)

What About Dividends?

分红呢?

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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Zhejiang Supor's TSR for the last 3 years was -22%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!

在考虑投资回报时,重要的是要考虑两者之间的区别 股东总回报 (TSR) 和 股价回报。基于股息再投资的假设,股东总回报率包括任何分拆或贴现资本筹集的价值以及任何股息。可以说,股东总回报率可以更全面地描述股票产生的回报。碰巧的是,浙江苏泊尔过去3年的股东总回报率为-22%,超过了前面提到的股价回报率。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

We're pleased to report that Zhejiang Supor shareholders have received a total shareholder return of 26% over one year. Of course, that includes the dividend. That gain is better than the annual TSR over five years, which is 4%. Therefore it seems like sentiment around the company has been positive lately. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. 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. For instance, we've identified 1 warning sign for Zhejiang Supor that you should be aware of.

我们很高兴地向大家报告,浙江苏泊尔股东在一年内获得了26%的股东总回报率。当然,这包括分红。该增幅优于五年内的年度股东总回报率,后者为4%。因此,最近该公司的情绪似乎一直乐观。在最好的情况下,这可能暗示着一些真正的商业势头,这意味着现在可能是深入研究的好时机。尽管值得考虑市场状况可能对股价产生的不同影响,但还有其他因素更为重要。例如,我们已经为浙江苏泊尔确定了1个警告标志,你应该注意。

But note: Zhejiang Supor 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).

但请注意:浙江苏泊尔可能不是最值得买入的股票。因此,来看看这份包含过去盈利增长(以及进一步增长预测)的有趣公司的免费名单吧。

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.

请注意,本文引用的市场回报反映了目前在中国交易所交易的股票的市场加权平均回报。

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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.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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