SolarWinds' (NYSE:SWI Five-year Decrease in Earnings Delivers Investors With a 18% Loss
SolarWinds' (NYSE:SWI Five-year Decrease in Earnings Delivers Investors With a 18% Loss
The main aim of stock picking is to find the market-beating stocks. But in any portfolio, there will be mixed results between individual stocks. So we wouldn't blame long term SolarWinds Corporation (NYSE:SWI) shareholders for doubting their decision to hold, with the stock down 63% over a half decade.
選股的主要目的是尋找市場領先的股票。但是在任何投資組合中,個股之間的結果都會好壞參半。因此,我們不會責怪SolarWinds公司(紐約證券交易所代碼:SWI)的長期股東懷疑他們的持股決定,該股在五年內下跌了63%。
Since SolarWinds has shed US$71m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.
由於SolarWinds在過去7天內已從其價值中減少了7100萬美元,因此讓我們看看長期下跌是否是由該業務的經濟推動的。
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just 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.
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。考慮市場對公司的看法發生了怎樣的變化的一種不完美但簡單的方法是將每股收益(EPS)的變化與股價走勢進行比較。
During five years of share price growth, SolarWinds moved from a loss to profitability. Most would consider that to be a good thing, so it's counter-intuitive to see the share price declining. Other metrics may better explain the share price move.
在五年的股價增長中,SolarWinds從虧損轉爲盈利。大多數人會認爲這是一件好事,因此股價下跌是違反直覺的。其他指標可以更好地解釋股價走勢。
The revenue fall of 2.5% per year for five years is neither good nor terrible. But if the market expected durable top line growth, then that could explain the share price weakness.
五年來每年下降2.5%的收入既不好也不糟糕。但是,如果市場預期收入將持續增長,那麼這可以解釋股價疲軟的原因。
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
您可以在下圖中看到收入和收入隨時間推移而發生的變化(點擊圖表查看確切值)。
![1724688632464](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240827/42888838-0-ff6e7254649e38d1ff2d5a84efd57186.webp/bigjpg)
We know that SolarWinds 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 SolarWinds will earn in the future (free profit forecasts).
我們知道SolarWinds最近提高了利潤,但是未來會發生什麼?因此,看看分析師認爲SolarWinds將來的收入(自由利潤預測)是很有意義的。
What About The Total Shareholder Return (TSR)?
那麼股東總回報(TSR)呢?
We'd be remiss not to mention the difference between SolarWinds' total shareholder return (TSR) and its share price return. Arguably the TSR is a more complete return calculation because it accounts for the value of dividends (as if they were reinvested), along with the hypothetical value of any discounted capital that have been offered to shareholders. SolarWinds hasn't been paying dividends, but its TSR of -18% exceeds its share price return of -63%, implying it has either spun-off a business, or raised capital at a discount; thereby providing additional value to shareholders.
如果不提SolarWinds的股東總回報率(TSR)與其股價回報率之間的差異,那就太失職了。可以說,股東總回報率是一種更完整的回報計算方法,因爲它考慮了股息的價值(就好像是再投資一樣),以及向股東提供的任何貼現資本的假設價值。SolarWinds尚未派發股息,但其股東回報率爲-18%,超過了-63%的股價回報率,這意味着它要麼分拆了企業,要麼以折扣價籌集了資金;從而爲股東提供了額外價值。
A Different Perspective
不同的視角
SolarWinds' TSR for the year was broadly in line with the market average, at 28%. The silver lining is that the share price is up in the short term, which flies in the face of the annualised loss of 3% over the last five years. We're pretty skeptical of turnaround stories, but it's good to see the recent share price recovery. It's always interesting to track share price performance over the longer term. But to understand SolarWinds better, we need to consider many other factors. For example, we've discovered 3 warning signs for SolarWinds (1 is a bit concerning!) that you should be aware of before investing here.
SolarWinds今年的股東總回報率與市場平均水平基本持平,爲28%。一線希望是,股價在短期內上漲,這與過去五年3%的年化虧損背道而馳。我們對轉機故事持懷疑態度,但很高興看到最近的股價回升。長期跟蹤股價表現總是很有意思的。但是,爲了更好地了解SolarWinds,我們需要考慮許多其他因素。例如,我們發現了 SolarWinds 的 3 個警告信號(1 個有點令人擔憂!)在這裏投資之前,您應該注意這一點。
Of course SolarWinds may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
當然,SolarWinds可能不是最值得購買的股票。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.
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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。