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Positive earnings growth hasn't been enough to get Tianjin Capital Environmental Protection Group (SHSE:600874) shareholders a favorable return over the last five years
Positive earnings growth hasn't been enough to get Tianjin Capital Environmental Protection Group (SHSE:600874) shareholders a favorable return over the last five years
While it may not be enough for some shareholders, we think it is good to see the Tianjin Capital Environmental Protection Group Company Limited (SHSE:600874) share price up 11% in a single quarter. But that doesn't change the fact that the returns over the last half decade have been disappointing. The share price has failed to impress anyone , down a sizable 56% during that time. So we're hesitant to put much weight behind the short term increase. Of course, this could be the start of a turnaround.
On a more encouraging note the company has added CN¥628m to its market cap in just the last 7 days, so let's see if we can determine what's driven the five-year loss for shareholders.
Check out our latest analysis for Tianjin Capital Environmental Protection Group
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. 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.
While the share price declined over five years, Tianjin Capital Environmental Protection Group actually managed to increase EPS by an average of 9.1% per year. Given the share price reaction, one might suspect that EPS is not a good guide to the business performance during the period (perhaps due to a one-off loss or gain). Alternatively, growth expectations may have been unreasonable in the past.
Due to the lack of correlation between the EPS growth and the falling share price, it's worth taking a look at other metrics to try to understand the share price movement.
We don't think that the 2.0% is big factor in the share price, since it's quite small, as dividends go. In contrast to the share price, revenue has actually increased by 18% 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 image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).
SHSE:600874 Earnings and Revenue Growth July 22nd 2022If you are thinking of buying or selling Tianjin Capital Environmental Protection Group stock, you should check out this FREE detailed report on its balance sheet.
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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for Tianjin Capital Environmental Protection Group the TSR over the last 5 years was -53%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
A Different Perspective
We're pleased to report that Tianjin Capital Environmental Protection Group shareholders have received a total shareholder return of 25% over one year. Of course, that includes the dividend. That certainly beats the loss of about 9% per year over the last half decade. This makes us a little wary, but the business might have turned around its fortunes. 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. Even so, be aware that Tianjin Capital Environmental Protection Group is showing 2 warning signs in our investment analysis , and 1 of those doesn't sit too well with us...
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
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.
雖然這對一些股東來説可能還不夠,但我們認為看到天津首創環保集團有限公司(上海證券交易所:600874)股價在一個季度內上漲了11%。但這並不能改變過去五年回報一直令人失望的事實。該公司股價未能給任何人留下深刻印象,在此期間大幅下跌了56%。因此,我們對是否支持短期漲勢猶豫不決。當然,這可能是一個轉機的開始。
更鼓舞人心的是,僅在過去的7天裏,該公司的市值就增加了6.28億元人民幣,所以讓我們看看我們是否能確定是什麼導致了股東五年來的虧損。
查看我們對天津首都環保集團的最新分析
雖然市場是一種強大的定價機制,但股價反映的是投資者情緒,而不僅僅是潛在的企業表現。評估圍繞一家公司的情緒變化的一個有缺陷但合理的方法是將每股收益(EPS)與股價進行比較。
當股價在五年內下跌時,天津首都環保集團實際上成功地增加平均每年以9.1%的速度增長。考慮到股價的反應,人們可能會懷疑,每股收益不是這段時間內業務表現的良好指南(可能是因為一次性的虧損或收益)。或者,增長預期在過去可能是不合理的。
由於每股收益增長和股價下跌之間缺乏相關性,因此有必要看看其他指標,試圖瞭解股價走勢。
我們不認為2.0%是股價的大因素,因為隨着股息的增加,這一比例相當小。與股價形成對比的是,在這五年期間,營收實際上以每年18%的速度增長。對營收和收益進行更詳細的審查,可能會解釋股價低迷的原因,也可能解釋不了;可能會有機會。
下圖顯示了收益和收入隨時間的變化情況(如果您點擊該圖,您可以看到更多詳細信息)。
上海證交所:2022年7月22日收益和收入增長600874如果你正在考慮買賣天津首都環保集團的股票,你應該看看這個免費關於其資產負債表的詳細報告。
那股息呢?
在考察投資回報時,重要的是要考慮到股東總回報(TSR)和股價回報。TSR包括任何剝離或貼現融資的價值,以及任何股息,基於股息再投資的假設。因此,對於支付豐厚股息的公司來説,TSR往往比股價回報高得多。我們注意到,天津首都環保集團過去5年的TSR為-53%,好於上述股價回報率。這在很大程度上是其股息支付的結果!
不同的視角
我們很高興地報告,天津首都環保集團股東在一年內獲得了25%的總股東回報。當然,這包括股息。這當然超過了過去五年每年約9%的損失。這讓我們有點警惕,但這家企業可能已經扭轉了命運。雖然值得考慮市場狀況對股價可能產生的不同影響,但還有其他更重要的因素。即便如此,請注意,天津首都環保集團正在展示我們的投資分析中的2個警告信號,其中一條不太適合我們……
當然了,如果你把目光投向別處,你可能會發現這是一筆很棒的投資。所以讓我們來看看這個免費我們預計收益將會增長的公司名單。
請注意,本文引用的市場回報反映了目前在CN交易所交易的股票的市場加權平均回報。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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