Entegris (NASDAQ:ENTG) Shareholders Have Earned a 22% CAGR Over the Last Five Years
Entegris (NASDAQ:ENTG) Shareholders Have Earned a 22% CAGR Over the Last Five Years
Entegris, Inc. (NASDAQ:ENTG) shareholders might be concerned after seeing the share price drop 15% in the last quarter. But that doesn't change the fact that shareholders have received really good returns over the last five years. Indeed, the share price is up an impressive 161% in that time. So while it's never fun to see a share price fall, it's important to look at a longer time horizon. Ultimately business performance will determine whether the stock price continues the positive long term trend.
纳斯达克公司英特格股票(NASDAQ:ENTG)的股东可能会担心在上一季度里股价下跌了15%。但这并不能改变股东在过去五年里收到的非常好的回报。实际上,在那段时间里,股价上涨了惊人的161%。因此,虽然看到股价下跌从来都不是一件令人愉快的事情,但重要的是要从更长的时间范围来看。最终,业务表现将决定股票价格是否继续保持积极的长期趋势。
So let's assess the underlying fundamentals over the last 5 years and see if they've moved in lock-step with shareholder returns.
因此,让我们评估过去5年的基本面,看看它们是否和股东的回报率相符。
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).
在他的《格雷厄姆和道德斯维尔的超级投资者》一文中,沃伦·巴菲特描述了股价并不总是合理反映企业价值的方法。检验市场情绪如何随时间变化的一种方法是观察公司股价和每股收益(EPS)之间的互动关系。
During five years of share price growth, Entegris actually saw its EPS drop 10% per year.
在股价增长的五年中,英特格的每股收益每年下降了10%。
Essentially, it doesn't seem likely that investors are focused on EPS. Because earnings per share don't seem to match up with the share price, we'll take a look at other metrics instead.
基本上,投资者似乎并未关注每股收益。因为每股收益似乎与股价不匹配,所以我们将查看其他指标。
We doubt the modest 0.4% dividend yield is attracting many buyers to the stock. In contrast revenue growth of 20% per year is probably viewed as evidence that Entegris is growing, a real positive. It's quite possible that management are prioritizing revenue growth over EPS growth at the moment.
我们怀疑仅有0.4%的股息率可能不会吸引很多买家。相比之下,每年20%的营业收入增长可能被视为英特格正在增长的证据,这是一个真正的积极因素。目前,管理层很可能将营业收入增长视为优先于每股收益增长。
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
下面的图表显示了收益和营收随时间的变化情况(通过单击图像揭示确切的值)。
![1724412182492](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240823/42798311-0-4a7b9d708929befafd7b7ebefc7385b4.webp/bigjpg)
Entegris is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. So it makes a lot of sense to check out what analysts think Entegris will earn in the future (free analyst consensus estimates)
英特格斯在投资者中非常知名,许多聪明的分析师已经尝试预测未来的利润水平。因此,检查分析师对英特格斯未来盈利的看法(免费分析师共识估计)非常有意义。
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 is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Entegris' TSR for the last 5 years was 167%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
在考虑投资回报时,重要的是要考虑总股东回报(TSR)和股价回报之间的差异。TSR是一种回报计算,考虑了现金分红的价值(假设任何获得的股息都被再投资)以及任何折价资本增发和剥离的计算价值。因此,对于支付丰厚股息的公司,TSR往往比股价回报高得多。恰好英特格斯过去5年的TSR为167%,超过前面提到的股价回报。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的观点
Entegris provided a TSR of 18% over the last twelve months. But that return falls short of the market. It's probably a good sign that the company has an even better long term track record, having provided shareholders with an annual TSR of 22% over five years. It may well be that this is a business worth popping on the watching, given the continuing positive reception, over time, from the market. 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. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Entegris (at least 1 which is significant) , and understanding them should be part of your investment process.
在过去的12个月中,英特格提供了18%的TSR。但这个回报率不及市场。这可能是一个好迹象,因为该公司长期的业绩表现更好,为股东提供了每年22%的TSR,持续了5年。考虑到市场持续的积极评价,这可能是一个值得关注的业务。我觉得长期来看股价作为业务绩效的代理很有意思,但为了真正获得洞察力,我们还需要考虑其他信息。例如,不断存在的投资风险。我们已经发现了英特格的2个警示信号(至少有一个是重要的),了解它们应该是您的投资过程的一部分。
If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.
如果您像我一样,就不会希望错过这份免费的内部人士正在购买的低估小市值股票列表。
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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