Investing in Royal Gold (NASDAQ:RGLD) Five Years Ago Would Have Delivered You a 50% Gain
Investing in Royal Gold (NASDAQ:RGLD) Five Years Ago Would Have Delivered You a 50% Gain
The main point of investing for the long term is to make money. Furthermore, you'd generally like to see the share price rise faster than the market. But Royal Gold, Inc. (NASDAQ:RGLD) has fallen short of that second goal, with a share price rise of 41% over five years, which is below the market return. Unfortunately the share price is down 3.3% in the last year.
长期投资的要点是赚钱。此外,您通常希望看到股价的上涨速度快于市场。但是皇家黄金公司(纳斯达克股票代码:RGLD)尚未实现第二个目标,股价在五年内上涨了41%,低于市场回报率。不幸的是,去年股价下跌了3.3%。
Let's take a look at the underlying fundamentals over the longer term, and see if they've been consistent with shareholders returns.
让我们来看看长期的基本面,看看它们是否与股东的回报一致。
View our latest analysis for Royal Gold
查看我们对皇家金牌的最新分析
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. 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).
尽管市场是一种强大的定价机制,但股价反映的是投资者的情绪,而不仅仅是基本的业务表现。研究市场情绪如何随时间推移而变化的一种方法是研究公司的股价与其每股收益(EPS)之间的相互作用。
During the five years of share price growth, Royal Gold moved from a loss to profitability. That would generally be considered a positive, so we'd expect the share price to be up.
在股价增长的五年中,皇家黄金从亏损转为盈利。这通常被视为利好,因此我们预计股价会上涨。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下图描绘了 EPS 随着时间的推移而发生的变化(点击图片显示确切的数值)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240108/0-dcb2acc7d5b7b68d11dd760d272495c8-0-c5c5c50f507c6ad9c5f20e1036bdc09c.png/big)
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized 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. Dive deeper into the earnings by checking this interactive graph of Royal Gold's earnings, revenue and cash flow.
我们很高兴地向大家报告,首席执行官的薪酬比资本相似公司的大多数首席执行官要低得多。始终值得关注首席执行官的薪酬,但更重要的问题是公司多年来是否会增加收益。查看这张Royal Gold收益、收入和现金流的互动图表,深入了解收益。
What About Dividends?
那股息呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Royal Gold's TSR for the last 5 years was 50%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
在考虑投资回报时,重要的是要考虑两者之间的区别 股东总回报率 (TSR) 和 股价回报。股东总回报率是一种回报计算方法,它考虑了现金分红的价值(假设收到的任何股息都经过再投资)以及任何贴现资本筹集和分拆的计算价值。可以说,股东总回报率更全面地描述了股票产生的回报。碰巧的是,皇家金在过去5年的股东总回报率为50%,超过了前面提到的股价回报率。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的视角
While the broader market gained around 22% in the last year, Royal Gold shareholders lost 2.0% (even including dividends). However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 8%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. If you would like to research Royal Gold in more detail then you might want to take a look at whether insiders have been buying or selling shares in the company.
尽管去年整体市场上涨了约22%,但皇家金的股东却下跌了2.0%(甚至包括股息)。但是,请记住,即使是最好的股票有时也会在十二个月内表现不如市场。长期投资者不会那么沮丧,因为他们本可以在五年内每年赚8%。如果基本面数据继续显示长期可持续增长,那么当前的抛售可能是一个值得考虑的机会。如果你想更详细地研究皇家黄金,那么你可能需要看看内部人士是否在买入或卖出该公司的股票。
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.
如果你想看看另一家公司——一家财务状况可能优异的公司——那么千万不要错过这份已经证明自己可以增加收益的公司的免费名单。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文引用的市场回报反映了目前在美国交易所交易的股票的市场加权平均回报率。
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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.
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Simply Wall St 的这篇文章本质上是笼统的。我们仅使用公正的方法提供基于历史数据和分析师预测的评论,我们的文章并非旨在提供财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。