Shandong Linglong TyreLtd's (SHSE:601966) Investors Will Be Pleased With Their Respectable 67% Return Over the Last Five Years
Shandong Linglong TyreLtd's (SHSE:601966) Investors Will Be Pleased With Their Respectable 67% Return Over the Last Five Years
When we invest, we're generally looking for stocks that outperform the market average. And in our experience, buying the right stocks can give your wealth a significant boost. For example, long term Shandong Linglong Tyre Co.,Ltd. (SHSE:601966) shareholders have enjoyed a 57% share price rise over the last half decade, well in excess of the market return of around 42% (not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 10.0% in the last year , including dividends .
当我们投资时，我们通常会寻找表现优于市场平均水平的股票。根据我们的经验，购买合适的股票可以显著增加你的财富。例如，长期山东玲珑轮胎有限公司(上交所：601966)股东在过去五年中股价上涨了57%，远远超过了约42%的市场回报率(不包括股息)。然而，最近的回报没有那么令人印象深刻，包括股息在内，该股去年的回报率仅为10.0%。
So let's assess the underlying fundamentals over the last 5 years and see if they've moved in lock-step with shareholder returns.
因此，让我们评估一下过去5年的基本基本面，看看它们是否与股东回报同步。
Check out our latest analysis for Shandong Linglong TyreLtd
查看我们对山东玲珑轮胎有限公司的最新分析
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德斯维尔的超级投资者沃伦·巴菲特描述了股价并不总是理性地反映一家企业的价值。考察市场情绪如何随时间变化的一种方法是观察一家公司的股价和每股收益(EPS)之间的相互作用。
During five years of share price growth, Shandong Linglong TyreLtd actually saw its EPS drop 12% per year.
在股价上涨的五年中，山东玲珑轮胎有限公司的每股收益实际上每年下降12%。
Essentially, it doesn't seem likely that investors are focused on EPS. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.
从本质上讲，投资者似乎不太可能把重点放在每股收益上。由于每股收益的变化似乎与股价的变化没有相关性，因此值得看看其他指标。
We doubt the modest 0.3% dividend yield is attracting many buyers to the stock. In contrast revenue growth of 3.3% per year is probably viewed as evidence that Shandong Linglong TyreLtd is growing, a real positive. It's quite possible that management are prioritizing revenue growth over EPS growth at the moment.
我们怀疑，0.3%的适度股息收益率是否吸引了许多买家买入该股。相比之下，每年3.3%的收入增长可能被视为山东玲珑轮胎有限公司正在增长的证据，这是一个真正的积极因素。目前，管理层很有可能将收入增长置于每股收益增长之上。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
该公司的收入和收益(随着时间的推移)如下图所示(点击查看具体数字)。
It's probably worth noting that the CEO is paid less than the median at similar sized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. So we recommend checking out this free report showing consensus forecasts
可能值得注意的是，首席执行官的薪酬低于类似规模公司的中位数。关注首席执行官的薪酬总是值得的，但更重要的问题是，该公司是否会在未来几年实现盈利增长。因此，我们建议您查看以下内容免费显示共识预测的报告
What About Dividends?
那股息呢？
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. We note that for Shandong Linglong TyreLtd the TSR over the last 5 years was 67%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
重要的是要考虑任何给定股票的总股东回报以及股价回报。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。我们注意到，山东玲珑轮胎有限公司过去5年的总回报率为67%，好于上述股价回报率。这在很大程度上是其股息支付的结果！
A Different Perspective
不同的视角
We're pleased to report that Shandong Linglong TyreLtd shareholders have received a total shareholder return of 10.0% over one year. Of course, that includes the dividend. However, that falls short of the 11% TSR per annum it has made for shareholders, each year, over five years. 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 Shandong Linglong TyreLtd is showing 1 warning sign in our investment analysis , you should know about...
我们很高兴地报告，山东玲珑轮胎有限公司的股东在一年的时间里获得了10.0%的总股东回报。当然，这包括股息。然而，这低于该公司在过去五年中每年为股东创造的11%的TSR。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。即便如此，请注意山东玲珑轮胎有限公司正在展示在我们的投资分析中出现1个警告信号，你应该知道关于……
But note: Shandong Linglong TyreLtd may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
但请注意：山东玲珑轮胎有限公司可能不是买入的最佳股票。所以让我们来看看这个免费过去有盈利增长(以及进一步增长预测)的有趣公司名单。
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。