Earnings Grew Faster Than the 0.3% CAGR Delivered to Wuxi Rural Commercial BankLtd (SHSE:600908) Shareholders Over the Last Five Years
Earnings Grew Faster Than the 0.3% CAGR Delivered to Wuxi Rural Commercial BankLtd (SHSE:600908) Shareholders 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 Wuxi Rural Commercial Bank Co.,Ltd (SHSE:600908), since the last five years saw the share price fall 11%.
選股的主要目的是尋找跑贏大盤的股票。但即使是最好的選股者也只有在一些選擇。在這一點上，一些股東可能會質疑他們在無錫農村商業銀行股份有限公司(上交所：600908)，自過去五年以來，股價下跌了11%。
Given the past week has been tough on shareholders, let's investigate the fundamentals and see what we can learn.
鑑於過去一週對股東的態度一直很嚴峻，讓我們調查一下基本面，看看我們能學到什麼。
Check out our latest analysis for Wuxi Rural Commercial BankLtd
查看我們對無錫農村商業銀行有限公司的最新分析
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. 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.
本傑明·格雷厄姆(Benjamin Graham)的原話是：短期內，市場是一臺投票機，但從長遠來看，它是一臺稱重機。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。
While the share price declined over five years, Wuxi Rural Commercial BankLtd actually managed to increase EPS by an average of 11% 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.
雖然股價在五年內下跌，但無錫農村商業銀行有限公司實際上成功地增加平均每年每股收益增長11%。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。
It's strange to see such muted share price performance despite sustained growth. Perhaps a clue lies in other metrics.
在持續增長的情況下，股價表現如此低迷，這是一件奇怪的事情。或許線索存在於其他指標中。
Revenue is actually up 10% over the time 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.
在這段時間裡，收入實際上增長了10%。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。
The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).
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資訊)。
We know that Wuxi Rural Commercial BankLtd has improved its bottom line lately, but what does the future have in store? So it makes a lot of sense to check out what analysts think Wuxi Rural Commercial BankLtd will earn in the future (free profit forecasts).
我們知道無錫農村商業銀行最近提高了利潤，但未來會是什麼樣子呢？因此，看看分析師認為無錫農村商業銀行未來的盈利情況(免費盈利預測)是很有意義的。
What About Dividends?
那股息呢？
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. In the case of Wuxi Rural Commercial BankLtd, it has a TSR of 1.6% 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!
除了衡量股價回報外，投資者還應考慮總股東回報(TSR)。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。公平地說，TSR為支付股息的股票提供了更完整的圖景。以無錫農村商業銀行股份有限公司為例，其過去5年的總資產收益率為1.6%。這超過了我們之前提到的它的股價回報。而且，猜測股息支付在很大程度上解釋了這種差異是沒有好處的！
A Different Perspective
不同的視角
Although it hurts that Wuxi Rural Commercial BankLtd returned a loss of 4.2% in the last twelve months, the broader market was actually worse, returning a loss of 6.4%. Of course, the long term returns are far more important and the good news is that over five years, the stock has returned 0.3% for each year. In the best case scenario the last year is just a temporary blip on the journey to a brighter future. 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. To that end, you should be aware of the 2 warning signs we've spotted with Wuxi Rural Commercial BankLtd .
儘管無錫農村商業銀行在過去12個月裡虧損了4.2%，令人痛心，但大盤實際上更糟糕，虧損6.4%。當然，長期回報要重要得多，好消息是，在過去的五年裡，該股的年回報率為0.3%。在最好的情況下，去年只是通向更光明未來的旅途中的一個暫時的轉捩點。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。為此，您應該意識到2個警告標誌我們已經看到無錫農村商業銀行有限公司。
If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.
如果你像我一樣，你會的不想懷念這一切嗎？免費內部人士正在收購的成長型公司名單。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
請注意，本文引用的市場回報反映了目前在中國交易所交易的股票的市場加權平均回報。
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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。