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Emerson Electric's (NYSE:EMR) Earnings Growth Rate Lags the 9.6% CAGR Delivered to Shareholders

Emerson Electric's (NYSE:EMR) Earnings Growth Rate Lags the 9.6% CAGR Delivered to Shareholders

艾默生電氣(紐交所代碼:EMR)的盈利增長率低於股東獲得的9.6%複合年增長率。
Simply Wall St ·  2023/10/20 15:19

When you buy and hold a stock for the long term, you definitely want it to provide a positive return. Better yet, you'd like to see the share price move up more than the market average. But Emerson Electric Co. (NYSE:EMR) has fallen short of that second goal, with a share price rise of 39% over five years, which is below the market return. Looking at the last year alone, the stock is up 16%.

當您長期買入並持有一隻股票時,您肯定希望它能提供正回報。更好的是,您希望看到股價比市場平均水平更高。但是艾默生電氣公司(紐交所:EMR)未能實現第二個目標,五年內股價上漲了39%,低於市場回報率。僅看過去一年,股價上漲了16%。

While this past week has detracted from the company's five-year return, let's look at the recent trends of the underlying business and see if the gains have been in alignment.

雖然過去的一週削弱了公司的五年回報,但讓我們看看業務的最近趨勢,並查看收益是否已對齊。

See our latest analysis for Emerson Electric

請查看我們對艾默生電氣的最新分析

While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

雖然有效市場假說仍然被一些人教授,但被證明市場是過度反應的動態系統,投資者並不總是理性的。檢查市場情緒如何隨時間變化的一種方法是看一個公司的股價與其每股收益(EPS)之間的交互作用。

Over half a decade, Emerson Electric managed to grow its earnings per share at 12% a year. This EPS growth is higher than the 7% average annual increase in the share price. So one could conclude that the broader market has become more cautious towards the stock.

在過去的五年中,艾默生電氣設法以每年12%的速度增長其每股收益。這種EPS增長高於股價每年平均增長7%。因此,可以得出結論說,更廣泛的市場對該股變得更加謹慎。

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隨時間的變化情況(如果您單擊該圖像,則可以查看更多詳細信息)。

earnings-per-share-growth
NYSE:EMR Earnings Per Share Growth October 20th 2023
紐交所:艾默生電氣每股收益增長2023年10月20日

We know that Emerson Electric has improved its bottom line lately, but is it going to grow revenue? If you're interested, you could check this free report showing consensus revenue forecasts.

我們知道艾默生電氣最近改善了底線,但它的營業收入會增長嗎?如果您感興趣,您可以查看這份免費報告,其中顯示了共識營收預測。

What About Dividends?

那麼分紅怎麼樣呢?

As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for Emerson Electric the TSR over the last 5 years was 58%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.

除了衡量股價回報之外,投資者還應考慮總股東回報(TSR)。TSR包括分拆或折價增資的價值,以及基於股息再投資的任何分紅,假設分紅再投資。因此,對於支付豐厚股息的公司,TSR往往比股價回報高得多。我們注意到,過去5年中,艾默生電氣的TSR爲58%,比上述股價回報好。公司支付的股息因此提升了 股東回報。

A Different Perspective

不同的觀點

It's nice to see that Emerson Electric shareholders have received a total shareholder return of 19% over the last year. That's including the dividend. 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. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. For example, we've discovered 1 warning sign for Emerson Electric that you should be aware of before investing here.

艾默生電氣股東在過去一年中獲得了總股東回報率爲19%。 這已經包括了分紅派息。 由於一年的TSR好於五年的TSR(後者爲每年10%),股票表現似乎在最近有所改善。 鑑於股價勢頭依然強勁,值得更仔細地觀察這支股票,以免錯失良機。 我發現長期觀察股價作爲業務表現的一種替代很有趣。 但爲了真正獲得洞察力,我們還需要考慮其他信息。 例如,在這裏投資之前,我們發現了一個艾默生電氣的警告信號,你應該注意到。

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.

當然,您可能在其他地方找到一家出色的企業進行投資。因此,請查看我們預計將實現盈利增長的公司的免費列表。

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,本文所引述的市場回報反映了目前在美國交易所上市的股票的市場加權平均回報。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.

對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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