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As Haw Par (SGX:H02) Ascends 4.3% This Past Week, Investors May Now Be Noticing the Company's Five-year Earnings Growth

As Haw Par (SGX:H02) Ascends 4.3% This Past Week, Investors May Now Be Noticing the Company's Five-year Earnings Growth

隨着Haw Par (SGX: H02) 上週上漲4.3%,投資者現在可能會注意到該公司的五年收益增長
Simply Wall St ·  2023/07/28 18:16

Ideally, your overall portfolio should beat the market average. But even the best stock picker will only win with some selections. At this point some shareholders may be questioning their investment in Haw Par Corporation Limited (SGX:H02), since the last five years saw the share price fall 29%.

理想情況下,您的整體投資組合應超過市場平均水平。但是,即使是最好的選股者也只能通過以下方式獲勝 一些 選擇。此時,一些股東可能會質疑他們在以下方面的投資 Haw Par 有限公司 (SGX: H02),自過去五年以來,股價下跌了29%。

While the last five years has been tough for Haw Par shareholders, this past week has shown signs of promise. So let's look at the longer term fundamentals and see if they've been the driver of the negative returns.

儘管過去五年對Haw Par的股東來說是艱難的,但上週已經顯示出希望的跡象。因此,讓我們來看看長期基本面,看看它們是否是負回報的驅動力。

View our latest analysis for Haw Par

查看我們對 Haw Par 的最新分析

While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. 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.

儘管一些人繼續教導高效市場假說,但事實證明,市場是反應過度的動態系統,投資者並不總是理性的。評估公司情緒變化的一種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, Haw Par actually managed to increase EPS by an average of 3.8% 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). Or possibly, the market was previously very optimistic, so the stock has disappointed, despite improving EPS.

儘管股價在五年內下跌,但Haw Par實際上設法做到了 增加 每股收益平均每年增長3.8%。考慮到股價的反應,人們可能會懷疑每股收益並不能很好地指導該期間的業務表現(可能是由於一次性虧損或收益)。或者,市場此前可能非常樂觀,因此儘管每股收益有所改善,但該股還是令人失望。

By glancing at these numbers, we'd posit that the the market had expectations of much higher growth, five years ago. Having said that, we might get a better idea of what's going on with the stock by looking at other metrics.

通過瀏覽這些數字,我們可以假設五年前,市場對更高的增長抱有預期。話雖如此,通過查看其他指標,我們可能會更好地了解該股的情況。

It could be that the revenue decline of 12% per year is viewed as evidence that Haw Par is shrinking. This has probably encouraged some shareholders to sell down the stock.

每年12%的收入下降可能被視爲Haw Par正在萎縮的證據。這可能鼓勵了一些股東拋售該股。

The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).

下圖顯示了收入和收入隨時間推移的跟蹤情況(如果您點擊圖片,可以看到更多細節)。

earnings-and-revenue-growth
SGX:H02 Earnings and Revenue Growth July 28th 2023
SGX: H02 收益和收入增長 2023 年 7 月 28 日

Take a more thorough look at Haw Par's financial health with this free report on its balance sheet.

用這個更全面地看看 Haw Par 的財務狀況 免費的 在其資產負債表上報告。

What About Dividends?

分紅呢?

It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Haw Par, it has a TSR of -14% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.

重要的是要考慮任何給定股票的股東總回報率和股價回報率。股價回報率僅反映股價的變化,而股東總回報率包括股息的價值(假設它們是再投資的)以及任何折扣融資或分拆的收益。可以說,TSR可以更全面地描述股票產生的回報。就Haw Par而言,在過去的5年中,它的股東總回報率爲-14%。這超過了我們之前提到的其股價回報率。因此,該公司支付的股息推動了 股東回報。

A Different Perspective

不同的視角

While the broader market gained around 5.0% in the last year, Haw Par shareholders lost 9.7% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 3% over the last half decade. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 2 warning signs for Haw Par you should be aware of, and 1 of them makes us a bit uncomfortable.

儘管去年整個市場上漲了約5.0%,但Haw Par的股東下跌了9.7%(甚至包括股息)。即使是優質股票的股價有時也會下跌,但我們希望在過於感興趣之前看到企業基本指標的改善。不幸的是,去年的表現可能表明挑戰尚未解決,因爲這比過去五年中3%的年化虧損還要糟糕。我們意識到,羅斯柴爾德男爵曾表示,投資者應該 “在街上有血跡時買入”,但我們警告說,投資者應首先確保他們購買的是高質量的企業。我發現從長遠來看,將股價視爲業務表現的代表非常有趣。但是,要真正獲得洞察力,我們還需要考慮其他信息。一個很好的例子:我們發現了 Haw Par 有 2 個警告標誌 你應該知道,其中一個讓我們有點不舒服。

If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.

如果你和我一樣,那麼你會 想錯過這個 免費的 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 Singaporean exchanges.

請注意,本文引用的市場回報反映了目前在新加坡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?擔心內容嗎? 取得聯繫 直接和我們在一起。 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,也沒有考慮您的目標或財務狀況。我們的目標是爲您提供由基本面數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。簡而言之,華爾街在上述任何股票中都沒有頭寸。

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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