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The Three-year Earnings Decline Is Not Helping COFCO Joycome Foods' (HKG:1610 Share Price, as Stock Falls Another 10% in Past Week

The Three-year Earnings Decline Is Not Helping COFCO Joycome Foods' (HKG:1610 Share Price, as Stock Falls Another 10% in Past Week

三年收益下降對中糧佳康食品(HKG: 1610)的股價沒有幫助,因爲過去一週股價又下跌了10%
Simply Wall St ·  2023/12/13 17:03

You can invest in an index fund if you want to make sure your returns approximately match the overall market. But in any given year a good portion of stocks will fall short of that. Unfortunately for investors in COFCO Joycome Foods Limited (HKG:1610), the share price has slipped 31% in three years, falling short of the marketdecline of 20%. And the share price decline continued over the last week, dropping some 10%.

如果您想確保您的回報與整個市場大致匹配,則可以投資指數基金。但是在任何一年中,很大一部分股票都將無法做到這一點。不幸的是,對於中糧家康食品有限公司(HKG: 1610)的投資者來說,股價在三年內下跌了31%,沒有達到20%的市場跌幅。上週,股價繼續下跌,下跌了約10%。

Since COFCO Joycome Foods has shed HK$916m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.

由於中糧佳康食品在過去7天內已貶值9.16億港元,讓我們看看長期下跌是否是由企業經濟推動的。

See our latest analysis for COFCO Joycome Foods

查看我們對中糧佳康食品的最新分析

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 way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

在他的文章中 格雷厄姆和多茲維爾的超級投資者 沃倫·巴菲特描述了股價如何並不總是合理地反映企業的價值。研究市場情緒如何隨着時間的推移而變化的一種方法是研究公司股價與其每股收益(EPS)之間的相互作用。

COFCO Joycome Foods became profitable within the last five years. We would usually expect to see the share price rise as a result. So given the share price is down it's worth checking some other metrics too.

中糧佳康食品在過去五年內實現了盈利。我們通常預計股價會因此上漲。因此,鑑於股價下跌,也值得查看其他一些指標。

Arguably the revenue decline of 14% per year has people thinking COFCO Joycome Foods is shrinking. And that's not surprising, since it seems unlikely that EPS growth can continue for long in the absence of revenue growth.

可以說,每年14%的收入下降讓人們認爲中糧佳康食品正在萎縮。這並不奇怪,因爲在收入沒有增長的情況下,每股收益的增長似乎不太可能持續很長時間。

The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).

公司的收入和收益(隨着時間的推移)如下圖所示(點擊查看確切數字)。

earnings-and-revenue-growth
SEHK:1610 Earnings and Revenue Growth December 13th 2023
香港交易所:1610 2023年12月13日收益和收入增長

We know that COFCO Joycome Foods 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 COFCO Joycome Foods will earn in the future (free profit forecasts).

我們知道中糧Joycome Foods最近提高了利潤,但是未來會發生什麼?因此,看看分析師認爲中糧Joycome Foods未來將獲得多少收入(免費利潤預測)很有意義。

A Dividend Lost

股息損失

The share price return figures discussed above don't include the value of dividends paid previously, but the total shareholder return (TSR) does. By accounting for the value of dividends paid, the TSR can be seen as a more complete measure of the value a company brings to its shareholders. Over the last 3 years, COFCO Joycome Foods generated a TSR of -22%, which is, of course, better than the share price return. Although the company had to cut dividends, it has paid cash to shareholders in the past.

上面討論的股價回報率數字不包括先前支付的股息的價值,但包括股東總回報率(TSR)。通過考慮已支付的股息的價值,股東總回報率可以被視爲衡量公司爲股東帶來的價值的更完整指標。在過去的3年中,中糧家康食品的股東總回報率爲-22%,這當然要好於股價回報率。儘管該公司不得不削減股息,但它過去曾向股東支付過現金。

A Different Perspective

不同的視角

We regret to report that COFCO Joycome Foods shareholders are down 20% for the year. Unfortunately, that's worse than the broader market decline of 9.3%. However, it could simply be that the share price has been impacted by broader market jitters. It might be worth keeping an eye on the fundamentals, in case there's a good opportunity. Longer term investors wouldn't be so upset, since they would have made 8%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. It's always interesting to track share price performance over the longer term. But to understand COFCO Joycome Foods better, we need to consider many other factors. Case in point: We've spotted 3 warning signs for COFCO Joycome Foods you should be aware of.

我們遺憾地報告,中糧佳康食品的股東今年下跌了20%。不幸的是,這比大盤下跌9.3%還要嚴重。但是,可能僅僅是股價受到了更廣泛的市場緊張情緒的影響。如果有很好的機會,可能值得關注基本面。長期投資者不會那麼沮喪,因爲他們本可以在五年內每年獲得8%的收入。最近的拋售可能是一個機會,因此可能值得查看基本面數據以尋找長期增長趨勢的跡象。從長遠來看,追蹤股價表現總是很有意思的。但是,要更好地了解中糧佳康食品,我們需要考慮許多其他因素。一個很好的例子:我們發現了中糧佳康食品的3個警告標誌,你應該注意。

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,那麼你不會想錯過這份業內人士正在收購的成長型公司的免費名單。

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

請注意,本文引用的市場回報反映了目前在香港交易所交易的股票的市場加權平均回報。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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