Those Who Invested in Allison Transmission Holdings (NYSE:ALSN) Three Years Ago Are up 101%
Those Who Invested in Allison Transmission Holdings (NYSE:ALSN) Three Years Ago Are up 101%
By buying an index fund, investors can approximate the average market return. But if you buy good businesses at attractive prices, your portfolio returns could exceed the average market return. For example, the Allison Transmission Holdings, Inc. (NYSE:ALSN) share price is up 90% in the last three years, clearly besting the market return of around 13% (not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 36% in the last year, including dividends.
通过购买指数基金,投资者可以近似获得市场平均回报。但是,如果您以优惠的价格购买优秀的企业,您的投资组合回报可能会超过市场平均回报。例如,Allison Transmission Holdings, Inc. (纽交所: ALSN) 的股票价格在过去三年中上涨了90%,明显超过了市场回报约13%(不包括红利)。然而,最近的回报并没有那么令人印象深刻,股票在包括红利在内的过去一年中仅回报36%。
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.
现在值得更详细地了解该公司的基本面,因为这将帮助我们判断长期股东回报是否与基础业务的表现相匹配。
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. 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.
为了概述本杰明·格雷厄姆(Benjamin Graham)的话:短期内,市场是一台投票机,但长期来看,它是一台衡重机。思考一家公司的市场感知如何转变的一种不完美但简单的方法是将每股收益(EPS)变化与股价变动进行比较。
Allison Transmission Holdings was able to grow its EPS at 46% per year over three years, sending the share price higher. The average annual share price increase of 24% is actually lower than the EPS growth. So it seems investors have become more cautious about the company, over time. This cautious sentiment is reflected in its (fairly low) P/E ratio of 9.88.
Allison Transmission Holdings能够在过去三年内将每股收益增长46%,使股价上涨。24%的平均年度股价增长实际上低于每股收益的增长。因此,看来投资者随着时间的推移变得更加谨慎。这种谨慎情绪反映在其(相当低的)市盈率为9.88上。
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
该公司的每股收益(随时间的推移)如下图所示(单击可查看确切数字)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240630/0-f6d600c18a41480537700986eab28571-0-4bb3520bb1192dadff3907f2083654ed.png/big)
We know that Allison Transmission Holdings has improved its bottom line over the last three years, but what does the future have in store? This free interactive report on Allison Transmission Holdings' balance sheet strength is a great place to start, if you want to investigate the stock further.
我们知道Allison Transmission Holdings在过去三年中改善了其底线,但未来会带来什么呢?如果您想进一步调查股票,Allison Transmission Holdings的资产负债表强度的这份免费互动报告是一个很好的开始。
What About Dividends?
那么分红怎么样呢?
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Allison Transmission Holdings, it has a TSR of 101% for the last 3 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
考虑到任何给定股票的总股东回报率以及股票价格回报率很重要。虽然股票价格回报率只反映了股票价格的变化,但TSR包括股息的价值(假设它们被再投资)以及任何折扣资本筹集或剥离的收益。可以说,TSR给出了一个更全面的股票回报率图景。在Allison Transmission Holdings的案例中,它在过去3年中的TSR为101%。这超过了我们之前提到的股票价格回报率。这在很大程度上是其分红支付的结果!
A Different Perspective
不同的观点
It's good to see that Allison Transmission Holdings has rewarded shareholders with a total shareholder return of 36% in the last twelve months. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 13% per year), it would seem that the stock's performance has improved in recent times. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. 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 Allison Transmission Holdings you should be aware of.
很高兴看到Allison Transmission Holdings在过去十二个月里回馈股东36%的总股东回报率。当然,这包括红利。由于一年的TSR比五年的TSR(后者每年为13%)更好,因此股票的表现在近期有所改善。在最好的情况下,这可能暗示着一些真正的业务动能,这意味着现在可能是深入研究的好时机。我认为,长期以股票价格作为业务表现的替代指标非常有趣。但是为了真正获得洞察力,我们还需要考虑其他信息。重点是:我们已经发现Allison Transmission Holdings共有2个警告标志,您应该注意。
We will like Allison Transmission Holdings better if we see some big insider buys. While we wait, check out this free list of undervalued stocks (mostly small caps) with considerable, recent, insider buying.
如果我们看到一些大规模内部交易,我们会更喜欢Allison Transmission Holdings。等待的同时,请查看这份免费的低估股票列表(主要是小市值股票),其中包括相当多的内部买入。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文所引述的市场回报反映了目前在美国交易所上市的股票的市场加权平均回报。
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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.
对本文有反馈?关于内容有所顾虑?直接和我们联系。或者,发送电子邮件至editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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