Applied Materials' (NASDAQ:AMAT) Five-year Total Shareholder Returns Outpace the Underlying Earnings Growth
Applied Materials' (NASDAQ:AMAT) Five-year Total Shareholder Returns Outpace the Underlying Earnings Growth
It hasn't been the best quarter for Applied Materials, Inc. (NASDAQ:AMAT) shareholders, since the share price has fallen 24% in that time. But in stark contrast, the returns over the last half decade have impressed. We think most investors would be happy with the 243% return, over that period. Generally speaking the long term returns will give you a better idea of business quality than short periods can. Of course, that doesn't necessarily mean it's cheap now.
对于应用材料公司(纳斯达克股票代码:AMAT)股东来说,这并不是最好的季度,因为当时股价已经下跌了24%。但与之形成鲜明对比的是,过去五年的回报给人留下了深刻的印象。我们认为,在此期间,大多数投资者会对243%的回报感到满意。一般而言,与短期回报相比,长期回报将使您更好地了解业务质量。当然,这并不一定意味着它现在很便宜。
While the stock has fallen 11% this week, it's worth focusing on the longer term and seeing if the stocks historical returns have been driven by the underlying fundamentals.
尽管该股本周下跌了11%,但值得关注长期来看,看看股票的历史回报是否是由基础基本面推动的。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.
不可否认,市场有时是有效的,但价格并不总是能反映潜在的业务表现。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。
During five years of share price growth, Applied Materials achieved compound earnings per share (EPS) growth of 25% per year. So the EPS growth rate is rather close to the annualized share price gain of 28% 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.
在五年的股价增长中,应用材料公司实现了每年25%的复合每股收益(EPS)增长。因此,每股收益的增长率相当接近每年28%的年化股价涨幅。因此,人们可以得出结论,对股票的情绪并没有太大变化。事实上,看来股价正在对每股收益做出反应。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下图描述了 EPS 随着时间的推移是如何变化的(点击图片可以看到确切的值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240909/0-685d692b54006aaad461ad106ea2cc27-0-abfca90407b68776f63c1503bae47546.png/big)
We know that Applied Materials has improved its bottom line lately, but is it going to grow revenue? You could check out this free report showing analyst revenue forecasts.
我们知道应用材料公司最近提高了利润,但它会增加收入吗?您可以查看这份显示分析师收入预测的免费报告。
What About Dividends?
分红呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Applied Materials' TSR for the last 5 years was 260%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.
重要的是要考虑任何给定股票的股东总回报率和股价回报率。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。因此,对于支付丰厚股息的公司来说,股东总回报率通常远高于股价回报率。碰巧的是,应用材料公司过去5年的股东总回报率为260%,超过了前面提到的股价回报率。因此,公司支付的股息提高了股东的总回报率。
A Different Perspective
不同的视角
Applied Materials' TSR for the year was broadly in line with the market average, at 20%. It has to be noted that the recent return falls short of the 29% shareholders have gained each year, over half a decade. Although the share price growth has slowed, the longer term story points to a business well worth watching. 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 example, we've discovered 1 warning sign for Applied Materials that you should be aware of before investing here.
应用材料公司今年的股东总回报率与市场平均水平基本持平,为20%。必须指出的是,最近的回报率低于五年来股东每年获得的29%。尽管股价增长放缓,但从长远来看,该业务值得关注。尽管市场状况可能对股价产生的不同影响值得考虑,但还有其他因素更为重要。例如,我们发现了应用材料公司的1个警告信号,在投资这里之前,您应该注意这一点。
Of course Applied Materials may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
当然,应用材料可能不是最好的买入股票。因此,您可能希望看到这批免费的成长股。
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。