Eastman Kodak's (NYSE:KODK) One-year Total Shareholder Returns Outpace the Underlying Earnings Growth
Eastman Kodak's (NYSE:KODK) One-year Total Shareholder Returns Outpace the Underlying Earnings Growth
These days it's easy to simply buy an index fund, and your returns should (roughly) match the market. But one can do better than that by picking better than average stocks (as part of a diversified portfolio). To wit, the Eastman Kodak Company (NYSE:KODK) share price is 67% higher than it was a year ago, much better than the market return of around 24% (not including dividends) in the same period. If it can keep that out-performance up over the long term, investors will do very well! It is also impressive that the stock is up 38% over three years, adding to the sense that it is a real winner.
These days it's easy to simply buy an index fund, and your returns should (roughly) match the market. But one can do better than that by picking better than average stocks (as part of a diversified portfolio). To wit, the Eastman Kodak Company (NYSE:KODK) share price is 67% higher than it was a year ago, much better than the market return of around 24% (not including dividends) in the same period. If it can keep that out-performance up over the long term, investors will do very well! It is also impressive that the stock is up 38% over three years, adding to the sense that it is a real winner.
In light of the stock dropping 8.6% in the past week, we want to investigate the longer term story, and see if fundamentals have been the driver of the company's positive one-year return.
考虑到股票在过去一周下跌了8.6%,我们想调查更长期的情况,并看看基本面是否驱动了公司积极的一年回报。
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 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.
在他的文章《Graham和Doddsville的超级投资者》中,沃伦·巴菲特描述了股价并不总是理性反映一家企业的价值。一种不完美但简单的方法来考虑市场对一家公司的看法如何变化是将每股收益(EPS)的变化与股价变动进行比较。
Eastman Kodak was able to grow EPS by 2.5% in the last twelve months. This EPS growth is significantly lower than the 67% increase in the share price. This indicates that the market is now more optimistic about the stock.
Eastman Kodak was able to grow EPS by 2.5% in the last twelve months. This EPS growth is significantly lower than the 67% increase in the share price. This indicates that the market is now more optimistic about the stock.
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下面的图像中查看每股收益随时间的变化(单击图表查看确切值)。
It's good to see that there was some significant insider buying in the last three months. That's a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. Dive deeper into the earnings by checking this interactive graph of Eastman Kodak's earnings, revenue and cash flow.
很高兴看到在过去的三个月里有一些显著的内部买入。这是个积极的信号。另一方面,我们认为营业收入和盈利趋势是更有意义的业务指标。通过查看这个柯达的盈利、营业收入和现金流的互动图表来深入了解盈利情况。
A Different Perspective
不同的视角
We're pleased to report that Eastman Kodak shareholders have received a total shareholder return of 67% over one year. Since the one-year TSR is better than the five-year TSR (the latter coming in at 10% per year), it would seem that the stock's performance has improved in recent times. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. It's always interesting to track share price performance over the longer term. But to understand Eastman Kodak better, we need to consider many other factors. For example, we've discovered 1 warning sign for Eastman Kodak that you should be aware of before investing here.
我们很高兴地报告,柯达的股东在一年内获得的总股东回报为67%。由于一年期的TSR优于五年期的TSR(后者为每年10%),这似乎表明该股票的表现最近有所改善。持乐观态度的人可能会认为,最近TSR的改善表明业务本身随着时间的推移在变得更好。跟踪股票价格长期表现总是很有趣。但是为了更好地理解柯达,我们需要考虑许多其他因素。例如,我们发现柯达有1个警告信号,投资前你应该对此有所了解。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: most of them are flying under the radar).
如果你喜欢与管理层一起买入股票,那么你可能会喜欢这份免费的公司名单。(提示:它们中的大多数都在雷达下飞行)。
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。