Earnings Growth Outpaced the Favorable 19% CAGR Delivered to Credicorp (NYSE:BAP) Shareholders Over the Last Three Years
Earnings Growth Outpaced the Favorable 19% CAGR Delivered to Credicorp (NYSE:BAP) Shareholders Over the Last Three Years
By buying an index fund, investors can approximate the average market return. But if you choose individual stocks with prowess, you can make superior returns. Just take a look at Credicorp Ltd. (NYSE:BAP), which is up 47%, over three years, soundly beating the market return of 20% (not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 16% 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,如果您选择具有优势的个股,可以获得更高的回报率。只需看看Credicorp Ltd.(纽交所:BAP),其回报率已经达到47%,超过了三年内20%的市场回报率(不包括股息)。然而,更近期的回报并没有那么令人印象深刻,包括股息在内,股票在过去一年仅回报16%。
The past week has proven to be lucrative for Credicorp investors, so let's see if fundamentals drove the company's three-year performance.
过去一周对Credicorp的投资者而言是获利丰厚的,因此让我们看看基本面是否推动了该公司的三年表现。
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。
During three years of share price growth, Credicorp achieved compound earnings per share growth of 84% per year. This EPS growth is higher than the 14% average annual increase in the share price. 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 10.16.
在三年的股价增长期间,Credicorp实现了84%的每股收益复合增长率。这种每股收益(EPS)增长高于股价的14%的年均增长率,因此随着时间的推移,投资者似乎更加谨慎。这种谨慎的情绪反映在其(相当低的)市盈率为10.16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)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240716/0-0ab0f72a0c29b6b0bf20ff285664b4d6-0-4ed09edba9f55c1736c265554d61019d.png/big)
We know that Credicorp has improved its bottom line over the last three years, but what does the future have in store? It might be well worthwhile taking a look at our free report on how its financial position has changed over time.
我们知道Credicorp在过去三年中改善了其底线,但未来会发生什么呢?看一下我们免费的报告,了解其财务状况如何随时间变化。
What About Dividends?
那么分红怎么样呢?
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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Credicorp, it has a TSR of 70% for the last 3 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!
除了测量股价回报率外,投资者还应考虑总股东回报率(TSR)。 TSR包括任何股份分拆或资本募集折扣的价值,以及任何股息,基于股息再投资的假设。可以说TSR为支付股息的股票提供了更完整的图景。对于Credicorp而言,其过去3年的TSR为70%。这超过了我们先前提到的股价回报,而且毫无疑问股息付款在很大程度上解释了这种分歧!
A Different Perspective
不同的观点
Credicorp provided a TSR of 16% over the last twelve months. Unfortunately this falls short of the market return. On the bright side, that's still a gain, and it is certainly better than the yearly loss of about 1.2% endured over half a decade. So this might be a sign the business has turned its fortunes around. It's always interesting to track share price performance over the longer term. But to understand Credicorp better, we need to consider many other factors. Take risks, for example - Credicorp has 1 warning sign we think you should be aware of.
Credicorp在过去12个月中提供了16%的TSR。不幸的是,这还没有达到市场回报。好的一面是,这仍然是收益,且肯定比五年中遭受的约1.2%的年度亏损要好。因此,这可能是公司转运的迹象。长期跟踪股价表现总是很有趣的,但要更好地了解Credicorp,我们需要考虑更多的因素。例如,承担风险-Credicorp有1个警告标志,我们认为您应该注意。
We will like Credicorp 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型内部人员购买,我们就会更喜欢Credicorp。在我们等待的同时,请查看此免费的低估股票列表(主要是小市值股票),其中涉及相当大量的内部购买。
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?对内容感到担忧?请直接与我们联系。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
对本文有反馈?对内容感到担忧?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。