Investing in CSX (NASDAQ:CSX) Five Years Ago Would Have Delivered You a 66% Gain
Investing in CSX (NASDAQ:CSX) Five Years Ago Would Have Delivered You a 66% Gain
The main point of investing for the long term is to make money. But more than that, you probably want to see it rise more than the market average. Unfortunately for shareholders, while the CSX Corporation (NASDAQ:CSX) share price is up 55% in the last five years, that's less than the market return. Over the last twelve months the stock price has risen a very respectable 9.5%.
长期投资的要点是赚钱。但不仅如此,你可能希望看到它的涨幅超过市场平均水平。对于股东来说,不幸的是,尽管CSX公司(纳斯达克股票代码:CSX)的股价在过去五年中上涨了55%,但仍低于市场回报率。在过去的十二个月中,股价上涨了9.5%,非常可观。
So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress.
因此,让我们调查一下,看看公司的长期表现是否与基础业务的进展一致。
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 imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
引用巴菲特的话说:“船只将在世界各地航行,但Flat Earth Society将蓬勃发展。市场上的价格和价值之间将继续存在巨大差异...”考虑市场对公司的看法发生了怎样的变化的一种不完美但简单的方法是将每股收益(EPS)的变化与股价走势进行比较。
Over half a decade, CSX managed to grow its earnings per share at 6.0% a year. This EPS growth is lower than the 9% average annual increase in the share price. 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,CSX设法将其每股收益增长到每年6.0%。每股收益的增长低于股价9%的平均年增长率。因此,可以公平地假设市场对该业务的看法比五年前更高。考虑到五年的收益增长记录,这并不一定令人惊讶。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
你可以在下面看到 EPS 是如何随着时间的推移而变化的(点击图片发现确切的值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240820/0-2173a79af7e5ad8c18636ad4c66cfeab-0-10949128fade6b324154cfb546f9915d.png/big)
Dive deeper into CSX's key metrics by checking this interactive graph of CSX's earnings, revenue and cash flow.
查看这张CSX收益、收入和现金流的交互式图表,深入了解CSX的关键指标。
What About Dividends?
分红呢?
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of CSX, it has a TSR of 66% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
在考虑投资回报时,重要的是要考虑股东总回报(TSR)和股价回报率之间的差异。基于股息再投资的假设,股东总回报率纳入了任何分拆或贴现资本筹集的价值以及任何股息。可以说,股东总回报率更全面地描述了股票产生的回报。就CSX而言,在过去的5年中,其股东回报率为66%。这超过了我们之前提到的其股价回报率。而且,猜测股息支付在很大程度上解释了这种分歧是没有好处的!
A Different Perspective
不同的视角
CSX shareholders gained a total return of 11% during the year. Unfortunately this falls short of the market return. The silver lining is that the gain was actually better than the average annual return of 11% per year over five year. It is possible that returns will improve along with the business fundamentals. It's always interesting to track share price performance over the longer term. But to understand CSX better, we need to consider many other factors. For instance, we've identified 1 warning sign for CSX that you should be aware of.
CSX股东在该年度的总回报率为11%。不幸的是,这没有达到市场回报率。一线希望是,收益实际上好于五年内每年11%的平均年回报率。回报率可能会随着业务基本面的改善而改善。长期跟踪股价表现总是很有意思的。但是,为了更好地理解 CSX,我们需要考虑许多其他因素。例如,我们已经确定了 CSX 的 1 个警告标志,你应该注意。
But note: CSX 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:CSX可能不是最值得购买的股票。因此,来看看这份过去盈利增长(以及进一步增长预测)的有趣公司的免费清单。
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,本文引用的市场回报反映了目前在美国交易所交易的股票的市场加权平均回报。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。