Those Who Invested in Capital One Financial (NYSE:COF) Five Years Ago Are up 61%
Those Who Invested in Capital One Financial (NYSE:COF) Five Years Ago Are up 61%
When you buy and hold a stock for the long term, you definitely want it to provide a positive return. But more than that, you probably want to see it rise more than the market average. But Capital One Financial Corporation (NYSE:COF) has fallen short of that second goal, with a share price rise of 47% over five years, which is below the market return. Some buyers are laughing, though, with an increase of 25% in the last year.
当你长期持有股票时，肯定希望股票可以带来正面收益。不仅如此，你可能还希望股票的涨幅超过市场平均水平。但是Capital One Financial Corporation (纽交所：COF)没有实现第二个目标，其股价在5年内上涨47%，低于市场回报率。尽管如此，去年仍有25%的增长。
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，让我们评估过去5年的基本面，看看它们是否和股东的回报率相符。
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' 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.
引用巴菲特的话说，“船只会在世界各地航行，但是持平地球学会会蓬勃发展。在市场上，价格和价值之间将继续存在巨大的差距……”评估公司周围情绪变化的一种有缺陷但合理的方法是将每股收益（EPS）与股价进行比较。
Over half a decade, Capital One Financial managed to grow its earnings per share at 1.0% a year. This EPS growth is slower than the share price growth of 8% per year, over the same period. So it's fair to assume the market has a higher opinion of the business than it did five years ago. That's not necessarily surprising considering the five-year track record of earnings growth.
在过去的五年中，Capital One Financial 公司的每股收益增长率为1.0%。然而，同期股价增长率为8%。因此，可以认为市场对该公司的业务前景持有更高意见，这并不令人意外，考虑到该公司的收益增长记录。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下图显示了EPS随时间变化的情况（点击图像以显示确切值）。
Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.
在购买或出售股票之前，我们始终建议仔细研究历史增长趋势，此处提供。
What About Dividends?
那么分红怎么样呢？
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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Capital One Financial's TSR for the last 5 years was 61%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.
考虑到任何特定股票的总股东回报率和股价回报率都很重要。股价回报率只反映了股价的变化，而TSR(总股东回报率)则包括了股息的价值(假设它们被再投资)以及任何折价资本筹集或剥离的好处。可以说TSR可以更全面地反映支付股息的股票的实际回报。事实上，Capital One Financial在过去5年的TSR为61%，超过了前面提到的股价回报。该公司支付的股息也提振了总股东回报率总股东回报。
A Different Perspective
不同的观点
It's nice to see that Capital One Financial shareholders have received a total shareholder return of 28% over the last year. And that does include the dividend. That's better than the annualised return of 10% over half a decade, implying that the company is doing better recently. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. 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. Even so, be aware that Capital One Financial is showing 2 warning signs in our investment analysis , you should know about...
值得注意的是，Capital One Financial股东在过去一年中获得了28%的总股东回报率，包括股息在内。这比过去五年的年化回报率优秀，表明该公司近期表现更好。积极的投资者可以把TSR的最近改善视为企业本身随着时间的推移变得更好的指标。我非常有兴趣地从长期股价的角度来看待企业绩效。但为了真正获得洞察力，我们还需要考虑其他信息。即便如此，请注意Capital One Financial在我们的投资分析中显示了2个警告信号，请予以知晓...
We will like Capital One Financial better if we see some big insider buys. While we wait, check out this free list of undervalued stocks (mostly small caps) with considerable, recent, insider buying.
如果我们看到一些重要内部买入动作，我们将更喜欢Capital One Financial。在此期间，可以查看这份免费的低估股票列表(大多是小市值股票)，其中包括近期的内部买入情况。
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，本文所引述的市场回报反映了目前在美国交易所上市的股票的市场加权平均回报。
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.
对本文有反馈？关于内容有所顾虑？直接和我们联系。或者，发送电子邮件至editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意，我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈？关于内容有所顾虑？直接和我们联系。或者发送电子邮件至editorial-team@simplywallst.com。