First Community Bankshares' (NASDAQ:FCBC) Earnings Growth Rate Lags the 10% CAGR Delivered to Shareholders
First Community Bankshares' (NASDAQ:FCBC) Earnings Growth Rate Lags the 10% CAGR Delivered to Shareholders
The main point of investing for the long term is to make money. Furthermore, you'd generally like to see the share price rise faster than the market. Unfortunately for shareholders, while the First Community Bankshares, Inc. (NASDAQ:FCBC) share price is up 36% 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 12%.
长期投资的主要目的是赚钱。此外,您通常希望看到股价上涨速度超过市场。不幸的是,对于股东来说,尽管第一社区银行股份(纳斯达克:FCBC)的股价在过去五年中上涨了36%,但这低于市场回报。在过去的十二个月中,股价上涨了非常可观的12%。
Since the long term performance has been good but there's been a recent pullback of 8.0%, let's check if the fundamentals match the share price.
由于长期表现良好,但最近回调了8.0%,我们来检查一下基本面是否与股价相符。
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 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:'船只将航行世界,但平面地球协会将繁荣发展。市场上价格与价值之间的差异将继续存在...' 一种不完美但简单的方式来考虑市场对一家公司的看法如何变化,就是比较每股收益(每股收益)与股票价格变动的变化。
During five years of share price growth, First Community Bankshares achieved compound earnings per share (EPS) growth of 2.5% per year. This EPS growth is slower than the share price growth of 6% per year, over the same period. So it's fair to assume the market has a higher opinion of the business than it did five years ago. And that's hardly shocking given the track record of growth.
在五年的股价增长中,第一社区银行股份的每股收益(EPS)复合增长率为每年2.5%。在相同的时间段内,每股收益的增长速度慢于每年6%的股价增长。因此,可以合理地假设市场对该业务的看法高于五年前。考虑到其增长的记录,这一点并不令人感到惊讶。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
您可以在下面看到EPS如何随时间变化(点击图片可以发现具体数值)。

It's probably worth noting that the CEO is paid less than the median at similar sized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. It might be well worthwhile taking a look at our free report on First Community Bankshares' earnings, revenue and cash flow.
值得注意的是,CEO的薪酬低于类似规模公司的中位数。始终关注CEO的薪酬是很重要的,但更重要的问题是公司能否在未来几年中增长收益。也许值得看看我们关于第一社区银行股份的免费的收益、营业收入和现金流报告。
What About Dividends?
关于分红派息的问题
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, First Community Bankshares' TSR for the last 5 years was 64%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.
除了衡量股价回报,投资者还应考虑总股东回报(TSR)。TSR考虑了任何分拆或折扣融资的价值,以及任何分红,假设这些分红被再投资。可以公平地说,TSR为支付分红的股票提供了更完整的图景。实际上,第一社区银行股份过去5年的TSR为64%,超过了之前提到的股价回报。因此,公司支付的分红提升了总股东回报。
A Different Perspective
不同的视角
First Community Bankshares shareholders gained a total return of 16% during the year. But that was short of the market average. On the bright side, that's still a gain, and it's actually better than the average return of 10% over half a decade It is possible that returns will improve along with the business fundamentals. 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. Take risks, for example - First Community Bankshares has 1 warning sign we think you should be aware of.
第一社区银行股份的股东在过去一年中获得了16%的总回报。但这仍低于市场平均水平。好消息是,这仍然是一个增长,实际上比过去五年平均10%的回报要好。有可能随着业务基本面的改善,回报会有所提高。虽然考虑市场状况对股价的不同影响很重要,但还有其他因素更加重要。举个例子,风险——第一社区银行股份有1个警示信号,我们认为你应该注意。
But note: First Community Bankshares 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:第一社区银行股份可能不是最佳的买入股票。所以请查看这份包含过去盈利增长(以及未来增长预测)的有趣公司免费名单。
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,本文中引用的市场回报反映了当前在美国交易所上市股票的市场加权平均回报。
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这篇来自Simply Wall St的文章是一般性的。我们根据历史数据和分析师预测提供评论,采用无偏见的方法,我们的文章并不旨在提供财务建议。它不构成对任何股票的买入或卖出建议,也未考虑到您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意,我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均没有持仓。