Earnings Growth of 0.7% Over 3 Years Hasn't Been Enough to Translate Into Positive Returns for Kaiser Aluminum (NASDAQ:KALU) Shareholders
Earnings Growth of 0.7% Over 3 Years Hasn't Been Enough to Translate Into Positive Returns for Kaiser Aluminum (NASDAQ:KALU) Shareholders
For many investors, the main point of stock picking is to generate higher returns than the overall market. But in any portfolio, there are likely to be some stocks that fall short of that benchmark. We regret to report that long term Kaiser Aluminum Corporation (NASDAQ:KALU) shareholders have had that experience, with the share price dropping 39% in three years, versus a market return of about 15%. And over the last year the share price fell 24%, so we doubt many shareholders are delighted. On top of that, the share price is down 9.2% in the last week.
對於許多投資者來說,選股的要點是產生比整個市場更高的回報。但是在任何投資組合中,都可能有一些股票未達到該基準。我們遺憾地報告,凱撒鋁業公司(納斯達克股票代碼:KALU)的長期股東有過這樣的經歷,股價在三年內下跌了39%,而市場回報率約爲15%。在過去的一年中,股價下跌了24%,因此我們懷疑許多股東是否感到高興。最重要的是,上週股價下跌了9.2%。
After losing 9.2% this past week, it's worth investigating the company's fundamentals to see what we can infer from past performance.
在上週下跌9.2%之後,值得調查該公司的基本面,以了解我們可以從過去的表現中推斷出什麼。
See our latest analysis for Kaiser Aluminum
查看我們對凱撒鋁業的最新分析
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
不可否認,市場有時是有效的,但價格並不總是能反映潛在的業務表現。評估公司情緒變化的一種有缺陷但合理的方法是將每股收益(EPS)與股價進行比較。
Kaiser Aluminum became profitable within the last five years. We would usually expect to see the share price rise as a result. So it's worth looking at other metrics to try to understand the share price move.
凱撒鋁業在過去五年中實現了盈利。我們通常預計股價會因此上漲。因此,值得研究其他指標來了解股價走勢。
We note that the dividend seems healthy enough, so that probably doesn't explain the share price drop. We like that Kaiser Aluminum has actually grown its revenue over the last three years. If the company can keep growing revenue, there may be an opportunity for investors. You might have to dig deeper to understand the recent share price weakness.
我們注意到,股息似乎足夠健康,因此這可能無法解釋股價下跌的原因。我們喜歡凱撒鋁業在過去三年中的收入實際上有所增長。如果公司能夠保持收入增長,那麼投資者可能會有機會。你可能需要更深入地挖掘才能了解最近的股價疲軟。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
公司的收入和收益(隨着時間的推移)如下圖所示(點擊查看確切數字)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240108/0-138e1d8079fd3cab4fce76b4eb2f9efe-0-16a0d82a24a9c3545d323a1865003477.png/big)
We know that Kaiser Aluminum has improved its bottom line lately, but what does the future have in store? So it makes a lot of sense to check out what analysts think Kaiser Aluminum will earn in the future (free profit forecasts).
我們知道凱撒鋁業最近提高了利潤,但是未來會怎樣?因此,看看分析師認爲凱撒鋁業未來的收入(自由利潤預測)很有意義。
What About Dividends?
分紅呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. In the case of Kaiser Aluminum, it has a TSR of -32% for the last 3 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
在考慮投資回報時,重要的是要考慮兩者之間的區別 股東總回報 (TSR) 和 股價回報。基於股息再投資的假設,股東總回報率納入了任何分拆或貼現資本籌集的價值以及任何股息。可以公平地說,股東總回報率爲支付股息的股票提供了更完整的畫面。就凱撒鋁業而言,在過去三年中,其股東回報率爲-32%。這超過了我們之前提到的其股價回報率。這在很大程度上是其股息支付的結果!
A Different Perspective
不同的視角
Investors in Kaiser Aluminum had a tough year, with a total loss of 20% (including dividends), against a market gain of about 22%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 4% over the last half decade. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. 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. Like risks, for instance. Every company has them, and we've spotted 3 warning signs for Kaiser Aluminum (of which 2 don't sit too well with us!) you should know about.
凱撒鋁業的投資者經歷了艱難的一年,總虧損了20%(包括股息),而市場漲幅約爲22%。但是,請記住,即使是最好的股票有時也會在十二個月內表現不如市場。不幸的是,去年的表現可能預示着尚未解決的挑戰,因爲它比過去五年中4%的年化虧損還要糟糕。我們意識到羅斯柴爾德男爵曾說過,投資者應該 “在街頭流血時買入”,但我們警告說,投資者應首先確保他們購買的是高質量的企業。儘管市場狀況可能對股價產生的不同影響值得考慮,但還有其他因素更爲重要。比如風險。每家公司都有,我們發現了 Kaiser Aluminum 的 3 個警告標誌(其中 2 個對我們來說不太合適!)你應該知道。
Of course Kaiser Aluminum may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
當然,凱撒鋁業可能不是最好的買入股票。因此,您可能希望看到這批免費的成長股。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
請注意,本文引用的市場回報反映了目前在美國交易所交易的股票的市場加權平均回報。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。