Loss-making Gladstone Commercial (NASDAQ:GOOD) Has Seen Earnings and Shareholder Returns Follow the Same Downward Trajectory Over Past -17%
Loss-making Gladstone Commercial (NASDAQ:GOOD) Has Seen Earnings and Shareholder Returns Follow the Same Downward Trajectory Over Past -17%
Many investors define successful investing as beating the market average over the long term. But in any portfolio, there are likely to be some stocks that fall short of that benchmark. We regret to report that long term Gladstone Commercial Corporation (NASDAQ:GOOD) shareholders have had that experience, with the share price dropping 36% in three years, versus a market return of about 14%.
很多投资者认为在长期内超越市场平均水平才算是成功的投资。 但在任何投资组合中,可能会有一些股票未能达到该基准。很遗憾,长期持有Gladstone商业公司股票(纳斯达克:GOOD)的股东经历了这种经历,因为股价在三年内下跌了36%,而市场回报率约为14%。
While the last three years has been tough for Gladstone Commercial shareholders, this past week has shown signs of promise. So let's look at the longer term fundamentals and see if they've been the driver of the negative returns.
虽然过去的三年对Gladstone商业公司的股东来说很艰难,但过去的一周显示出了一些希望的迹象。 因此,让我们看看更长期的基本面,并查看它们是否是负回报的驱动因素。
Because Gladstone Commercial made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. Some companies are willing to postpone profitability to grow revenue faster, but in that case one would hope for good top-line growth to make up for the lack of earnings.
因为Gladstone商业公司在过去的12个月中出现亏损,因此我们认为当前市场可能更加关注营收和营收增长。一般来说,没有盈利的公司预计每年都会增长营收,并且增长速度较快。 一些公司愿意推迟实现盈利的时间以加快营收增长,但在这种情况下,人们希望出现良好的营收增长以弥补缺乏盈利。在过去的三年中,Gladstone商业公司每年以3.3%的速度增长营收。考虑到它没有盈利,这不是非常高的增长率。股票在那段时间内下跌了11%。如果营收增长加速,我们可能会看到股价反弹。但对股东而言,真正的收益将是如果公司能够开始产生利润。
Over three years, Gladstone Commercial grew revenue at 3.3% per year. That's not a very high growth rate considering it doesn't make profits. The stock dropped 11% during that time. If revenue growth accelerates, we might see the share price bounce. But the real upside for shareholders will be if the company can start generating profits.
在过去的三年中,Gladstone商业公司每年以3.3%的速度增长营收。考虑到它没有盈利,这不是非常高的增长率。股票在那段时间内下跌了11%。如果营收增长加速,我们可能会看到股价反弹。但对股东而言,真正的收益将是如果公司能够开始产生利润。
You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).
您可以看到以下收益和营收的变化情况(通过单击图像了解精确值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240812/0-dea78dfe5c6b9856a46eb6caee94d85b-0-b23bfbc7efb78e5a4cd1018fe7c763e6.png/big)
Take a more thorough look at Gladstone Commercial's financial health with this free report on its balance sheet.
通过这份有关Gladstone商业公司资产负债表的免费报告,更全面地了解其财务状况。
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. 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. As it happens, Gladstone Commercial's TSR for the last 3 years was -17%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!
考虑到任何给定股票的股东总回报率以及股价回报率是非常重要的。 TSR包括基于股息再投资的任何分拆或折价募资的价值,以及任何股息。公平地说,TSR为支付股息的股票提供了更完整的图片。事实上,Gladstone商业公司过去3年的TSR为-17%,超过了先前提到的股价回报。毫不奇怪,股息支付在很大程度上解释了这种分离!
A Different Perspective
不同的观点
Gladstone Commercial shareholders gained a total return of 16% during the year. But that return falls short of the market. But at least that's still a gain! Over five years the TSR has been a reduction of 0.3% per year, over five years. It could well be that the business is stabilizing. 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 Gladstone Commercial you should be aware of.
Gladstone商业公司的股东在今年获得了总回报率16%。但该回报率低于市场。但至少还是有收益的!五年内TSR每年下降0.3%,五年内。企业的稳定也可能是原因。我发现长期股价是衡量业绩的一种代理方式非常有趣。但是要真正获得洞察力,我们需要考虑其他信息。实例:我们已经发现了Gladstone商业公司的两个警告,您应该注意。
Of course Gladstone Commercial may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
当然,Gladstone商业公司可能不是最好的股票。所以,您可能希望查看这些成长股的免费收藏。
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.
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@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。