Timken's (NYSE:TKR) Investors Will Be Pleased With Their Strong 100% Return Over the Last Five Years
Timken's (NYSE:TKR) Investors Will Be Pleased With Their Strong 100% Return Over the Last Five Years
These days it's easy to simply buy an index fund, and your returns should (roughly) match the market. But the truth is, you can make significant gains if you buy good quality businesses at the right price. For example, the The Timken Company (NYSE:TKR) share price is up 83% in the last five years, slightly above the market return. It's also good to see that the stock is up 6.2% in a year.
如今,簡單地購買指數基金很容易,而且您的回報應該(大致地)與市場相匹配。但事實是,如果你以合適的價格購買高質量的企業,你可以獲得可觀的收益。例如,鐵姆肯公司(紐約證券交易所代碼:TKR)的股價在過去五年中上漲了83%,略高於市場回報率。同樣令人高興的是,該股在一年內上漲了6.2%。
With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.
考慮到這一點,值得一看公司的基本面是否是長期業績的驅動力,或者是否存在一些差異。
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 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.
引用巴菲特的話說:「船隻將在世界各地航行,但Flat Earth Society將蓬勃發展。市場上的價格和價值之間將繼續存在巨大差異...」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。
Over half a decade, Timken managed to grow its earnings per share at 3.6% a year. This EPS growth is lower than the 13% average annual increase in the share price. This suggests that market participants hold the company in higher regard, these days. That's not necessarily surprising considering the five-year track record of earnings growth.
在過去的五年中,鐵姆肯公司設法將每股收益增長到每年3.6%。每股收益的增長低於股價年均增長13%。這表明,如今,市場參與者對公司的重視程度更高。考慮到五年的收益增長記錄,這並不一定令人驚訝。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下圖描述了 EPS 隨着時間的推移是如何變化的(點擊圖片可以看到確切的值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240905/0-086cb2b030ccb26293f83fc81fcd2acd-0-64e3d7324deda5fc368063051a9aebc6.png/big)
This free interactive report on Timken's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
如果你想進一步調查鐵姆肯公司的收益、收入和現金流,這份關於鐵姆肯公司收益、收入和現金流的免費互動報告是一個很好的起點。
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. 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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Timken, it has a TSR of 100% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
在考慮投資回報時,重要的是要考慮股東總回報(TSR)和股價回報率之間的差異。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。可以說,股東總回報率更全面地描述了股票產生的回報。就鐵姆肯公司而言,在過去的5年中,其股東總回報率爲100%。這超過了我們之前提到的其股價回報率。而且,猜測股息支付在很大程度上解釋了這種分歧是沒有好處的!
A Different Perspective
不同的視角
Timken shareholders are up 8.0% for the year (even including dividends). But that return falls short of the market. It's probably a good sign that the company has an even better long term track record, having provided shareholders with an annual TSR of 15% over five years. Maybe the share price is just taking a breather while the business executes on its growth strategy. It's always interesting to track share price performance over the longer term. But to understand Timken better, we need to consider many other factors. For instance, we've identified 2 warning signs for Timken that you should be aware of.
鐵姆肯公司股東今年上漲了8.0%(甚至包括股息)。但是這種回報不及市場。這可能是一個好兆頭,表明該公司的長期業績記錄甚至更好,在五年內爲股東提供了15%的年度股東總回報率。也許在企業執行增長戰略的同時,股價只是在稍作休息。長期跟蹤股價表現總是很有意思的。但是,爲了更好地了解鐵姆肯公司,我們需要考慮許多其他因素。例如,我們已經爲鐵姆肯公司確定了兩個你應該注意的警告信號。
But note: Timken 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).
但請注意:鐵姆肯公司可能不是最值得購買的股票。因此,來看看這份過去盈利增長(以及進一步增長預測)的有趣公司的免費清單。
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.
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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。