Those Who Invested in Tractor Supply (NASDAQ:TSCO) Five Years Ago Are up 184%
Those Who Invested in Tractor Supply (NASDAQ:TSCO) Five Years Ago Are up 184%
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But when you pick a company that is really flourishing, you can make more than 100%. One great example is Tractor Supply Company (NASDAQ:TSCO) which saw its share price drive 164% higher over five years. We note the stock price is up 2.0% in the last seven days.
在购买公司股票之后,最糟糕的结果(假设没有杠杆)就是你投入的所有资金都亏损了。但当你选择的公司真的蓬勃发展时,你可以获利超过100%。一个很好的例子就是拖拉机供应公司(纳斯达克:TSCO),在过去五年里,其股价上涨了164%。我们注意到股价在过去七天上涨了2.0%。
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。
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 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).
引用巴菲特的话,“船只会在世界各地航行,但扁平地球协会将空前盛行。市场上的价格和价值将继续存在巨大差异… ”检查市场情绪如何随时间变化的一种方法是查看公司的股价与每股收益(EPS)之间的互动。
During five years of share price growth, Tractor Supply achieved compound earnings per share (EPS) growth of 18% per year. So the EPS growth rate is rather close to the annualized share price gain of 21% per year. Therefore one could conclude that sentiment towards the shares hasn't morphed very much. Indeed, it would appear the share price is reacting to the EPS.
在股价增长的五年期间,拖拉机供应公司实现了每股收益(EPS)复合增长率为18%。因此,EPS增长率与年化股价增长率21%相当接近。因此可以得出结论,市场对这些股票的看法并没有改变太多。实际上,股价似乎是对EPS做出反应。
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
该公司的每股收益(随时间的推移)如下图所示(单击可查看确切数字)。
![1724672637238](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240826/42875339-0-e9f4f9ee3e93aad17639b8fc226ae263.webp/bigjpg)
This free interactive report on Tractor Supply's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
这份免费互动报告涵盖了拖拉机供应公司的收入、营业收入和现金流,是进一步调查股票的绝佳起点。
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 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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Tractor Supply's TSR for the last 5 years was 184%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!
重要考虑股东总回报,以及任何给定股票的股价回报。TSR是一个回报计算,考虑现金分红价值(假设任何收到的股息都进行再投资)以及任何折扣资金筹集和剥离的计算价值。可以说,TSR可以更全面地展现股票带来的回报情况。正巧,拖拉机供应公司过去5年的TSR为184%,超过了先前提到的股价回报。毋庸置疑,分红付款在很大程度上解释了这种差异!
A Different Perspective
不同的观点
Tractor Supply shareholders are up 25% for the year (even including dividends). But that was short of the market average. The silver lining is that the gain was actually better than the average annual return of 23% per year over five year. This suggests the company might be improving over time. 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. For example, we've discovered 1 warning sign for Tractor Supply that you should be aware of before investing here.
拖拉机供应公司股东今年的涨幅为25%(包括分红)。但这还不到市场平均水平。值得庆幸的是,这一涨幅实际上比过去五年每年23%的平均回报更好。这表明公司可能随着时间的推移在改善。我发现长期关注股价作为业绩代理很有趣。但要真正获得洞察力,我们还需要考虑其他信息。例如,我们发现了一项拖拉机供应公司的1个警示信号,你在投资之前应该注意。
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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