Hexcel (NYSE:HXL) Shareholders YoY Returns Are Lagging the Company's 14% Three-year Earnings Growth
Hexcel (NYSE:HXL) Shareholders YoY Returns Are Lagging the Company's 14% Three-year Earnings Growth
Hexcel Corporation (NYSE:HXL) shareholders might be concerned after seeing the share price drop 10% in the last month. But over three years, the returns would have left most investors smiling After all, the share price is up a market-beating 41% in that time.
上個月股價下跌10%後,Hexcel公司(紐約證券交易所代碼:HXL)的股東可能會感到擔憂。但是在三年內,回報本來會讓大多數投資者微笑畢竟,當時股價上漲了41%,超過了市場。
While this past week has detracted from the company's three-year return, let's look at the recent trends of the underlying business and see if the gains have been in alignment.
儘管過去一週減損了該公司的三年回報率,但讓我們來看看基礎業務的最新趨勢,看看漲幅是否一致。
View our latest analysis for Hexcel
查看我們對 Hexcel 的最新分析
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just 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.
雖然市場是一種強大的定價機制,但股價反映了投資者的情緒,而不僅僅是潛在的業務表現。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。
During three years of share price growth, Hexcel achieved compound earnings per share growth of 49% per year. This EPS growth is higher than the 12% average annual increase in the share price. Therefore, it seems the market has moderated its expectations for growth, somewhat. Of course, with a P/E ratio of 52.53, the market remains optimistic.
在三年的股價增長中,Hexcel實現了每年49%的複合每股收益增長。每股收益的增長高於股價平均年增長12%。因此,市場似乎在某種程度上放緩了對增長的預期。當然,市盈率爲52.53,市場仍然樂觀。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下圖顯示了 EPS 在一段時間內的跟蹤情況(如果你點擊圖片,你可以看到更多細節)。
We know that Hexcel has improved its bottom line over the last three years, but what does the future have in store? This free interactive report on Hexcel's balance sheet strength is a great place to start, if you want to investigate the stock further.
我們知道Hexcel在過去三年中提高了利潤,但是未來會發生什麼?如果你想進一步調查該股,這份關於Hexcel資產負債表實力的免費互動報告是一個很好的起點。
What About Dividends?
分紅呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Hexcel's TSR for the last 3 years was 43%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
重要的是要考慮任何給定股票的股東總回報率和股價回報率。儘管股價回報率僅反映股價的變化,但股東總回報率包括股息的價值(假設已進行再投資)以及任何折扣融資或分拆的收益。因此,對於支付豐厚股息的公司來說,股東總回報率通常遠高於股價回報率。碰巧的是,Hexcel在過去3年的股東總回報率爲43%,超過了前面提到的股價回報率。這在很大程度上是其股息支付的結果!
A Different Perspective
不同的視角
While the broader market gained around 20% in the last year, Hexcel shareholders lost 5.8% (even including dividends). 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 0.6% 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. Before spending more time on Hexcel it might be wise to click here to see if insiders have been buying or selling shares.
儘管去年整個市場上漲了約20%,但Hexcel的股東卻下跌了5.8%(甚至包括股息)。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0.6%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。在花更多時間在Hexcel上之前,明智的做法可能是點擊此處查看內部人士是否在買入或賣出股票。
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.
如果你想看看另一家公司——一家財務狀況可能優異的公司——那麼千萬不要錯過這份已經證明自己可以增加收益的公司的免費名單。
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。