The One-year Returns for Steelcase's (NYSE:SCS) Shareholders Have Been Notable, yet Its Earnings Growth Was Even Better
The One-year Returns for Steelcase's (NYSE:SCS) Shareholders Have Been Notable, yet Its Earnings Growth Was Even Better
Passive investing in index funds can generate returns that roughly match the overall market. But one can do better than that by picking better than average stocks (as part of a diversified portfolio). For example, the Steelcase Inc. (NYSE:SCS) share price is up 76% in the last 1 year, clearly besting the market return of around 22% (not including dividends). So that should have shareholders smiling. Zooming out, the stock is actually down 1.2% in the last three years.
被动地投资于指数基金可以产生大致匹配整个市场的回报率。但是,通过挑选优于平均水平的股票(作为分散组合的一部分),我们可以做得更好。例如,Steelcase Inc.(纽交所:SCS)股价在最近1年上涨了76%,明显优于约22%的市场回报率(不包括分红派息)。所以这应该让股东们微笑。放大视野,股票在过去的三年中实际上下跌了1.2%。
The past week has proven to be lucrative for Steelcase investors, so let's see if fundamentals drove the company's one-year performance.
过去的一周对钢铁情有独钟的投资者们来说是赚钱的,因此让我们看看基本面是否推动了公司一年的表现。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.
市场有时毫无疑问是有效的,但股票价格并不总是反映基本业务表现。一种有缺陷但合理的方法是比较每股收益(EPS)和股票价格,以评估围绕公司的情绪如何变化。
During the last year Steelcase grew its earnings per share (EPS) by 84%. We note that the earnings per share growth isn't far from the share price growth (of 76%). This makes us think the market hasn't really changed its sentiment around the company, in the last year. It makes intuitive sense that the share price and EPS would grow at similar rates.
在过去的一年中,Steelcase将其每股收益(EPS)提高了84%。我们注意到每股收益的增长与股价的增长(76%)并没有相差太远。这使我们认为市场在过去一年中并没有真正改变对该公司的情绪。股价和每股收益以类似的速度增长是很有道理的。
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)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240716/0-88a7ba74dd967fe3362fba75bd38b85d-0-3bce138cc7a42498d0c279b097d2a0e6.png/big)
It is of course excellent to see how Steelcase has grown profits over the years, but the future is more important for shareholders. Take a more thorough look at Steelcase's financial health with this free report on its balance sheet.
当然,了解Steelcase多年来利润增长是非常棒的,但未来对股东更为重要。通过此免费报告查看Steelcase的资产负债表,对Steelcase的财务状况进行更全面的了解。
What About Dividends?
那么分红怎么样呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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 Steelcase the TSR over the last 1 year was 82%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
在考虑投资回报率时,重要的是要考虑总股东回报率(TSR)和股价回报率之间的差异。 TSR包括任何分拆或折价增资的价值,以及任何股息,基于股息再投资的假设。可以公正地说,TSR为支付股息的股票提供了更完整的图片。我们注意到,对于Steelcase来说,过去1年的TSR为82%,这比上述股价回报率要好。这主要是其分红派息的结果!
A Different Perspective
不同的观点
We're pleased to report that Steelcase shareholders have received a total shareholder return of 82% over one year. Of course, that includes the dividend. There's no doubt those recent returns are much better than the TSR loss of 0.3% per year over five years. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. 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. For example, we've discovered 1 warning sign for Steelcase that you should be aware of before investing here.
我们很高兴地报告,Steelcase股东在一年内获得了82%的总股东回报率。当然,这包括股息。毫无疑问,这些最近的回报远远优于过去五年每年0.3%的TSR损失。长期的损失让我们保持谨慎,但短期TSR的增益当然暗示着更加光明的未来。我觉得长期的股价是业务绩效的代理非常有趣。但是,为了获得真正的洞见,我们还需要考虑其他信息。例如,我们发现了有关Steelcase的1个警告信号,在此投资之前,您应该意识到。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: many of them are unnoticed AND have attractive valuation).
如果您喜欢与管理层一起购买股票,那么您可能会喜欢这个公司的免费列表。 (提示:其中许多公司不为人注意且具有吸引力的估值。)
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?对内容感到担忧?请直接与我们联系。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?对内容感到担忧?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。