Investors in Northrop Grumman (NYSE:NOC) Have Seen Decent Returns of 43% Over the Past Three Years
Investors in Northrop Grumman (NYSE:NOC) Have Seen Decent Returns of 43% Over the Past Three Years
By buying an index fund, you can roughly match the market return with ease. But many of us dare to dream of bigger returns, and build a portfolio ourselves. For example, Northrop Grumman Corporation (NYSE:NOC) shareholders have seen the share price rise 36% over three years, well in excess of the market return (8.9%, not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 19% in the last year, including dividends.
通过购买指数基金,您可以轻松地与市场回报基本匹配。但是,我们中的许多人敢于梦想更高的回报,并自己建立投资组合。例如,诺斯罗普格鲁曼公司(NYSE:NOC)的股东已经看到股价在三年内上涨了36%,远远超过市场回报率(8.9%,不包括股息)。然而,最近的回报并没有像那样令人印象深刻,股票在过去的一年中仅上涨了19%,包括股息。
So let's assess the underlying fundamentals over the last 3 years and see if they've moved in lock-step with shareholder returns.
因此,让我们评估过去3年的潜在基本面,看看它们是否与股东回报同步变化。
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just 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.
虽然市场是一个强大的定价机制,但股价反映了投资者情绪,不仅仅是基本业绩。一种有缺陷但合理的评估公司周围情绪如何变化的方法是将每股收益(EPS)与股价进行比较。
Over the last three years, Northrop Grumman failed to grow earnings per share, which fell 17% (annualized).
在过去的三年中,诺斯罗普格鲁曼未能增长每股收益,每年下降了17%(年化)。
Thus, it seems unlikely that the market is focussed on EPS growth at the moment. Given this situation, it makes sense to look at other metrics too.
营业收入下降3.5%的状况与某些政治家一样令人失望。唯一清楚的是,五洲交通的股价与其历史基本数据之间存在很低的相关性。可能需要进一步的研究!
The modest 1.6% dividend yield is unlikely to be propping up the share price. It could be that the revenue growth of 3.9% per year is viewed as evidence that Northrop Grumman is growing. If the company is being managed for the long term good, today's shareholders might be right to hold on.
微不足道的1.6%股息收益率不太可能支撑股价。可能是每年3.9%的营业收入增长被视为诺斯罗普格鲁曼正在增长的证据。如果公司是为长期利益而管理的,今天的股东保持持有可能是正确的。
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/7781/20240813/0-7d8fc78722f846422073097055d8b17c-0-c51086bdf49696fde34a66699a023b1a.png/big)
Northrop Grumman is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. So we recommend checking out this free report showing consensus forecasts
诺斯罗普格鲁曼为投资者所熟知,许多聪明的分析师试图预测未来的收益水平。因此,我们建议查看此免费报告,显示共识预测。
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. 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. We note that for Northrop Grumman the TSR over the last 3 years was 43%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
在考虑投资回报时,重要的是考虑总股东回报(TSR)和股价回报之间的差异。股价回报仅反映股价的变化,而TSR包括股息的价值(假设它们被再投资)以及任何折扣资本筹集或分拆带来的利益。可以说,TSR为支付股息的股票提供了更完整的图片。我们注意到,对于诺斯罗普格鲁曼,过去3年的TSR为43%,比上述股价回报更好。公司支付的股息已经提高了总股东回报。
A Different Perspective
不同的观点
Northrop Grumman shareholders have received returns of 19% over twelve months (even including dividends), which isn't far from the general market return. That gain looks pretty satisfying, and it is even better than the five-year TSR of 8% per year. It is possible that management foresight will bring growth well into the future, even if the share price slows down. It's always interesting to track share price performance over the longer term. But to understand Northrop Grumman better, we need to consider many other factors. Case in point: We've spotted 2 warning signs for Northrop Grumman you should be aware of.
诺斯罗普格鲁曼股东在过去的12个月中获得了19%的回报(包括股息),与一般市场回报差不多。这个收益看起来相当令人满意,甚至比5年的TSR每年8%还要好。即使股价放缓,管理层的远见也可能带来未来的增长。追踪股价表现的长期趋势总是很有趣的。但要更好地了解诺斯罗普格鲁曼,我们需要考虑许多其他因素。例如,我们发现有2个警告信号需要注意。
For those who like to find winning investments this free list of undervalued companies with recent insider purchasing, could be just the ticket.
对于那些喜欢寻找获胜投资的人来说,最近有内部购买的低估公司免费列表可能是一个很好的选择。
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。
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