Select Medical Holdings' (NYSE:SEM) Investors Will Be Pleased With Their Favorable 79% Return Over the Last Five Years
Select Medical Holdings' (NYSE:SEM) Investors Will Be Pleased With Their Favorable 79% Return Over the Last Five Years
The main point of investing for the long term is to make money. But more than that, you probably want to see it rise more than the market average. Unfortunately for shareholders, while the Select Medical Holdings Corporation (NYSE:SEM) share price is up 70% in the last five years, that's less than the market return. Zooming in, the stock is actually down 7.9% in the last year.
長期投資的要點是賺錢。但不僅如此，你可能希望看到它的漲幅超過市場平均水平。對於股東來說，不幸的是，儘管精選醫療控股公司（紐約證券交易所代碼：SEM）的股價在過去五年中上漲了70％，但仍低於市場回報率。放大，該股去年實際上下跌了7.9％。
Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business.
現在也值得一看公司的基本面，因爲這將有助於我們確定長期股東回報是否與基礎業務的表現相匹配。
View our latest analysis for Select Medical Holdings
查看我們對精選醫療控股的最新分析
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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).
在他的文章中 格雷厄姆和多茲維爾的超級投資者 禾倫·巴菲特描述了股價如何並不總是合理地反映企業的價值。研究市場情緒如何隨着時間的推移而變化的一種方法是研究公司股價與其每股收益（EPS）之間的相互作用。
Over half a decade, Select Medical Holdings managed to grow its earnings per share at 1.2% a year. This EPS growth is lower than the 11% average annual increase in the share price. This suggests that market participants hold the company in higher regard, these days. And that's hardly shocking given the track record of growth.
在過去的五年中，Select Medical Holdings設法將其每股收益增長到每年1.2％。每股收益的增長低於股價年均增長11％。這表明，如今，市場參與者對公司的重視程度更高。考慮到增長的記錄，這並不令人震驚。
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 Select Medical Holdings has improved its bottom line lately, but is it going to grow revenue? This free report showing analyst revenue forecasts should help you figure out if the EPS growth can be sustained.
我們知道Select Medical Holdings最近提高了利潤，但它會增加收入嗎？這份顯示分析師收入預測的免費報告應幫助您弄清楚每股收益的增長是否可以持續。
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. 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. In the case of Select Medical Holdings, it has a TSR of 79% 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!
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。股東總回報率包含任何分拆或貼現資本籌集的價值，以及任何股息，前提是股息是再投資的。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。就精選醫療控股公司而言，其在過去5年的股東總回報率爲79％。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
Investors in Select Medical Holdings had a tough year, with a total loss of 6.1% (including dividends), against a market gain of about 20%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 12% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. 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. Case in point: We've spotted 2 warning signs for Select Medical Holdings you should be aware of, and 1 of them is a bit concerning.
Select Medical Holdings的投資者經歷了艱難的一年，總虧損爲6.1％（包括股息），而市場漲幅約爲20％。即使是優質股票的股價有時也會下跌，但我們希望在過於感興趣之前看到企業基本指標的改善。好的一面是，長期股東賺了錢，在過去的五年中，每年增長12％。如果基本面數據繼續顯示長期可持續增長，那麼當前的拋售可能是一個值得考慮的機會。我發現將長期股價視爲業務績效的代表非常有趣。但是，要真正獲得見解，我們還需要考慮其他信息。一個很好的例子：我們發現了你應該注意的精選醫療控股的兩個警告信號，其中一個有點令人擔憂。
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。