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%.
选股的主要目的是寻找跑赢大盘的股票。但即使是最好的选股者也只有在一些选择。在这一点上，一些股东可能会质疑他们在无锡农村商业银行股份有限公司(上交所：600908)，自过去五年以来，股价下跌了11%。
Given the past week has been tough on shareholders, let's investigate the fundamentals and see what we can learn.
鉴于过去一周对股东的态度一直很严峻，让我们调查一下基本面，看看我们能学到什么。
Check out our latest analysis for Wuxi Rural Commercial BankLtd
查看我们对无锡农村商业银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.
本杰明·格雷厄姆(Benjamin Graham)的原话是：短期内，市场是一台投票机，但从长远来看，它是一台称重机。评估围绕一家公司的情绪变化的一个有缺陷但合理的方法是将每股收益(EPS)与股价进行比较。
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.
虽然股价在五年内下跌，但无锡农村商业银行有限公司实际上成功地增加平均每年每股收益增长11%。考虑到股价的反应，人们可能会怀疑，每股收益不是这段时间内业务表现的良好指南(可能是因为一次性的亏损或收益)。或者，增长预期在过去可能是不合理的。
It's strange to see such muted share price performance despite sustained growth. Perhaps a clue lies in other metrics.
在持续增长的情况下，股价表现如此低迷，这是一件奇怪的事情。或许线索存在于其他指标中。
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.
在这段时间里，收入实际上增长了10%。对营收和收益进行更详细的审查，可能会解释股价低迷的原因，也可能解释不了；可能会有机会。
The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).
下图显示了收益和收入随时间的变化情况(如果您点击该图，您可以看到更多详细信息)。
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).
我们知道无锡农村商业银行最近提高了利润，但未来会是什么样子呢？因此，看看分析师认为无锡农村商业银行未来的盈利情况(免费盈利预测)是很有意义的。
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!
除了衡量股价回报外，投资者还应考虑总股东回报(TSR)。TSR包括任何剥离或贴现融资的价值，以及任何股息，基于股息再投资的假设。公平地说，TSR为支付股息的股票提供了更完整的图景。以无锡农村商业银行股份有限公司为例，其过去5年的总资产收益率为1.6%。这超过了我们之前提到的它的股价回报。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！
A Different Perspective
不同的视角
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 .
尽管无锡农村商业银行在过去12个月里亏损了4.2%，令人痛心，但大盘实际上更糟糕，亏损6.4%。当然，长期回报要重要得多，好消息是，在过去的五年里，该股的年回报率为0.3%。在最好的情况下，去年只是通向更光明未来的旅途中的一个暂时的转折点。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。为此，您应该意识到2个警告标志我们已经看到无锡农村商业银行有限公司。
If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.
如果你像我一样，你会的不想怀念这一切吗？免费内部人士正在收购的成长型公司名单。
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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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。