Select Medical Holdings' (NYSE:SEM) Investors Will Be Pleased With Their Favorable 79% Return Over the Last Five Years
Select Medical Holdings' (NYSE:SEM) Investors Will Be Pleased With Their Favorable 79% Return Over the Last Five Years
The main point of investing for the long term is to make money. But more than that, you probably want to see it rise more than the market average. Unfortunately for shareholders, while the Select Medical Holdings Corporation (NYSE:SEM) share price is up 70% in the last five years, that's less than the market return. Zooming in, the stock is actually down 7.9% in the last year.
长期投资的要点是赚钱。但不仅如此，你可能希望看到它的涨幅超过市场平均水平。对于股东来说，不幸的是，尽管精选医疗控股公司（纽约证券交易所代码：SEM）的股价在过去五年中上涨了70％，但仍低于市场回报率。放大，该股去年实际上下跌了7.9％。
Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business.
现在也值得一看公司的基本面，因为这将有助于我们确定长期股东回报是否与基础业务的表现相匹配。
View our latest analysis for Select Medical Holdings
查看我们对精选医疗控股的最新分析
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 格雷厄姆和多兹维尔的超级投资者 沃伦·巴菲特描述了股价如何并不总是合理地反映企业的价值。研究市场情绪如何随着时间的推移而变化的一种方法是研究公司股价与其每股收益（EPS）之间的相互作用。
Over half a decade, Select Medical Holdings managed to grow its earnings per share at 1.2% a year. This EPS growth is lower than the 11% average annual increase in the share price. This suggests that market participants hold the company in higher regard, these days. And that's hardly shocking given the track record of growth.
在过去的五年中，Select Medical Holdings设法将其每股收益增长到每年1.2％。每股收益的增长低于股价年均增长11％。这表明，如今，市场参与者对公司的重视程度更高。考虑到增长的记录，这并不令人震惊。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下图显示了 EPS 在一段时间内的跟踪情况（如果你点击图片，你可以看到更多细节）。
We know that Select Medical Holdings has improved its bottom line lately, but is it going to grow revenue? This free report showing analyst revenue forecasts should help you figure out if the EPS growth can be sustained.
我们知道Select Medical Holdings最近提高了利润，但它会增加收入吗？这份显示分析师收入预测的免费报告应帮助您弄清楚每股收益的增长是否可以持续。
What About Dividends?
分红呢？
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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Select Medical Holdings, it has a TSR of 79% 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!
重要的是要考虑任何给定股票的股东总回报率和股价回报率。股东总回报率包含任何分拆或贴现资本筹集的价值，以及任何股息，前提是股息是再投资的。因此，对于支付丰厚股息的公司来说，股东总回报率通常远高于股价回报率。就精选医疗控股公司而言，其在过去5年的股东总回报率为79％。这超过了我们之前提到的其股价回报率。而且，猜测股息支付在很大程度上解释了这种分歧是没有好处的！
A Different Perspective
不同的视角
Investors in Select Medical Holdings had a tough year, with a total loss of 6.1% (including dividends), against a market gain of about 20%. 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. On the bright side, long term shareholders have made money, with a gain of 12% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. 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 Select Medical Holdings you should be aware of, and 1 of them is a bit concerning.
Select Medical Holdings的投资者经历了艰难的一年，总亏损为6.1％（包括股息），而市场涨幅约为20％。即使是优质股票的股价有时也会下跌，但我们希望在过于感兴趣之前看到企业基本指标的改善。好的一面是，长期股东赚了钱，在过去的五年中，每年增长12％。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。我发现将长期股价视为业务绩效的代表非常有趣。但是，要真正获得见解，我们还需要考虑其他信息。一个很好的例子：我们发现了你应该注意的精选医疗控股的两个警告信号，其中一个有点令人担忧。
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。
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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根据历史数据和分析师的预测提供评论，我们的文章无意作为财务建议。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，我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之，华尔街没有持有任何上述股票的头寸。