Teradyne's (NASDAQ:TER) Five-year Earnings Growth Trails the 21% YoY Shareholder Returns
Teradyne's (NASDAQ:TER) Five-year Earnings Growth Trails the 21% YoY Shareholder Returns
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But on the bright side, if you buy shares in a high quality company at the right price, you can gain well over 100%. For instance, the price of Teradyne, Inc. (NASDAQ:TER) stock is up an impressive 154% over the last five years. It's even up 8.8% in the last week. But this could be related to the buoyant market which is up about 4.1% in a week.
在购买公司股票(假设没有杠杆)后,最糟糕的结果是您把全部投资损失了。但好的一面是,如果您以正确的价格购买优质公司的股票,您可以获得超过100%的收益。例如,Teradyne,Inc.(纳斯达克:TER)股票价格在过去五年中上涨了惊人的154%。它在上周甚至上涨了8.8%。但这可能与市场上扬有关,该市场上涨了约4.1%。
After a strong gain in the past week, it's worth seeing if longer term returns have been driven by improving fundamentals.
在过去的一周之内,获得的强劲收益是否表明了长期回报受到基本面的推动值得关注。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
市场有时候是有效的,但价格并不总是反映公司的基本业务表现。通过比较每股收益和股价变化,我们可以了解投资者对公司的看法如何随着时间变化而变化。
During five years of share price growth, Teradyne achieved compound earnings per share (EPS) growth of 2.8% per year. This EPS growth is slower than the share price growth of 20% per year, over the same period. This suggests that market participants hold the company in higher regard, these days. That's not necessarily surprising considering the five-year track record of earnings growth.
在五年的股价增长期间,Teradyne的复合每股收益(EPS)增长率每年为2.8%。与此同时,股价增长率为每年20%。这表明,现今市场参与者更加重视公司,这并不奇怪,考虑到过去五年的盈利增长纪录。
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)。
![big](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240819/0-77cbabab8b72739e044067a95270df85-0-66ec7b45d83ac78276b1837bb1ede7d5.png/big)
It might be well worthwhile taking a look at our free report on Teradyne's earnings, revenue and cash flow.
查看我们免费的Teradyne收益、营业收入和现金流量报告,这可能非常值得。
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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for Teradyne the TSR over the last 5 years was 159%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
对于任何一支股票,考虑总股东回报率以及股价回报率都很重要。股票回报率只反映股价变化,而TSR包括股息价值(假设再投资)和任何资本降价或分拆的优惠。因此,对于支付慷慨的股息的公司,TSR通常比股价回报率高得多。我们注意到,对于Teradyne来说,过去5年的TSR为159%,这比上述股价回报率要好。公司支付的股息因此提高了总股东回报率。
A Different Perspective
不同的观点
It's nice to see that Teradyne shareholders have received a total shareholder return of 30% over the last year. Of course, that includes the dividend. That's better than the annualised return of 21% 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. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For instance, we've identified 1 warning sign for Teradyne that you should be aware of.
很高兴看到Teradyne股东在过去一年中收到了30%的总股东回报率,当然,包括股息在内。这比过去半个十年的年化回报率21%更好,表明公司近来表现更好了。乐观的观点可以认为,TSR的最近改善表明业务本身正在随着时间的推移变得更好。尽管考虑到市场条件可能对股价产生不同的影响,但还有其他更重要的因素。例如,我们确定了一个警告信号,提醒您注意Teradyne。
But note: Teradyne may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
但请注意:Teradyne可能不是最好的股票买入选择。因此,可以查看此免费列表,其中包含过去盈利增长(以及未来增长预测)的有趣公司。
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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