The One-year Returns for Steelcase's (NYSE:SCS) Shareholders Have Been Notable, yet Its Earnings Growth Was Even Better
The One-year Returns for Steelcase's (NYSE:SCS) Shareholders Have Been Notable, yet Its Earnings Growth Was Even Better
Passive investing in index funds can generate returns that roughly match the overall market. But one can do better than that by picking better than average stocks (as part of a diversified portfolio). For example, the Steelcase Inc. (NYSE:SCS) share price is up 76% in the last 1 year, clearly besting the market return of around 22% (not including dividends). So that should have shareholders smiling. Zooming out, the stock is actually down 1.2% in the last three years.
被動地投資於指數基金可以產生大致匹配整個市場的回報率。但是,通過挑選優於平均水平的股票(作爲分散組合的一部分),我們可以做得更好。例如,Steelcase Inc.(紐交所:SCS)股價在最近1年上漲了76%,明顯優於約22%的市場回報率(不包括分紅派息)。所以這應該讓股東們微笑。放大視野,股票在過去的三年中實際上下跌了1.2%。
The past week has proven to be lucrative for Steelcase investors, so let's see if fundamentals drove the company's one-year performance.
過去的一週對鋼鐵情有獨鍾的投資者們來說是賺錢的,因此讓我們看看基本面是否推動了公司一年的表現。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.
市場有時毫無疑問是有效的,但股票價格並不總是反映基本業務表現。一種有缺陷但合理的方法是比較每股收益(EPS)和股票價格,以評估圍繞公司的情緒如何變化。
During the last year Steelcase grew its earnings per share (EPS) by 84%. We note that the earnings per share growth isn't far from the share price growth (of 76%). This makes us think the market hasn't really changed its sentiment around the company, in the last year. It makes intuitive sense that the share price and EPS would grow at similar rates.
在過去的一年中,Steelcase將其每股收益(EPS)提高了84%。我們注意到每股收益的增長與股價的增長(76%)並沒有相差太遠。這使我們認爲市場在過去一年中並沒有真正改變對該公司的情緒。股價和每股收益以類似的速度增長是很有道理的。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下圖顯示了EPS隨時間變化的情況(點擊圖像以顯示確切值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240716/0-88a7ba74dd967fe3362fba75bd38b85d-0-3bce138cc7a42498d0c279b097d2a0e6.png/big)
It is of course excellent to see how Steelcase has grown profits over the years, but the future is more important for shareholders. Take a more thorough look at Steelcase's financial health with this free report on its balance sheet.
當然,了解Steelcase多年來利潤增長是非常棒的,但未來對股東更爲重要。通過此免費報告查看Steelcase的資產負債表,對Steelcase的財務狀況進行更全面的了解。
What About Dividends?
那麼分紅怎麼樣呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. We note that for Steelcase the TSR over the last 1 year was 82%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
在考慮投資回報率時,重要的是要考慮總股東回報率(TSR)和股價回報率之間的差異。 TSR包括任何分拆或折價增資的價值,以及任何股息,基於股息再投資的假設。可以公正地說,TSR爲支付股息的股票提供了更完整的圖片。我們注意到,對於Steelcase來說,過去1年的TSR爲82%,這比上述股價回報率要好。這主要是其分紅派息的結果!
A Different Perspective
不同的觀點
We're pleased to report that Steelcase shareholders have received a total shareholder return of 82% over one year. Of course, that includes the dividend. There's no doubt those recent returns are much better than the TSR loss of 0.3% per year over five years. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. 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 Steelcase that you should be aware of before investing here.
我們很高興地報告,Steelcase股東在一年內獲得了82%的總股東回報率。當然,這包括股息。毫無疑問,這些最近的回報遠遠優於過去五年每年0.3%的TSR損失。長期的損失讓我們保持謹慎,但短期TSR的增益當然暗示着更加光明的未來。我覺得長期的股價是業務績效的代理非常有趣。但是,爲了獲得真正的洞見,我們還需要考慮其他信息。例如,我們發現了有關Steelcase的1個警告信號,在此投資之前,您應該意識到。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: many of them are unnoticed AND have attractive valuation).
如果您喜歡與管理層一起購買股票,那麼您可能會喜歡這個公司的免費列表。 (提示:其中許多公司不爲人注意且具有吸引力的估值。)
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?對內容感到擔憂?請直接與我們聯繫。或者,發送電子郵件至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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋?對內容感到擔憂?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。