Artisan Partners Asset Management (NYSE:APAM) Jumps 4.4% This Week, Though Earnings Growth Is Still Tracking Behind Five-year Shareholder Returns
Artisan Partners Asset Management (NYSE:APAM) Jumps 4.4% This Week, Though Earnings Growth Is Still Tracking Behind Five-year Shareholder Returns
The main point of investing for the long term is to make money. Better yet, you'd like to see the share price move up more than the market average. But Artisan Partners Asset Management Inc. (NYSE:APAM) has fallen short of that second goal, with a share price rise of 47% over five years, which is below the market return. But if you include dividends then the return is market-beating. Zooming in, the stock is up just 1.3% in the last year.
長期投資的主要目的是賺錢,更好的是,你希望看到股價比市場平均水平上漲。但是,Artisan Partners Asset Management股票(NYSE:APAM)並沒有實現第二個目標,股價在五年內上漲了47%,低於市場回報。但如果包括分紅,則收益超過市場。放大看,該股在過去一年中僅上漲了1.3%。
Since the stock has added US$127m to its market cap in the past week alone, let's see if underlying performance has been driving long-term returns.
由於該股僅在過去一週內增加了12700萬美元的市值,讓我們看看潛在表現是否推動着長期回報。
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
引用巴菲特的話順便說一下,“船隻將環遊世界,但支持地球平面學會的人將大有可爲。 在市場上,價格和價值之間將繼續存在巨大的差異...”通過比較EPS和股價變化,我們可以了解到投資者對公司的態度隨時間的變化程度。
Over half a decade, Artisan Partners Asset Management managed to grow its earnings per share at 3.2% a year. This EPS growth is slower than the share price growth of 8% per year, over the same period. 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,Artisan Partners Asset Management設法每年將每股收益增長3.2%。然而,在同一時期,股價每年增長了8%,增長速度較慢。這表明市場參與者最近更重視該公司,這並不意外,考慮到增長記錄。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下面的圖片中查看每股收益如何隨時間變化(單擊圖表以查看確切的價值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240719/0-4e4b8bd71c0f67931eb40451f5ce29ca-0-68be3c6b50e7bc2472882cd25c31e47e.png/big)
We know that Artisan Partners Asset Management 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Artisan Partners Asset Management最近已改善其底線,但它是否將繼續增長營業收入?這份免費報告展示了分析師預測的收入,應該可以幫助你確定每股收益是否可持續。
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 is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for Artisan Partners Asset Management the TSR over the last 5 years was 126%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!
在考慮投資回報時,重要的是要考慮總股東回報(TSR)和股價回報之間的差異。 TSR是一種回報計算,它考慮了現金分紅的價值(假設任何收到的股息都重新投資)以及任何折扣的資本籌集和剝離的計算值。可以說,TSR爲支付股息的股票提供了更完整的圖景。我們注意到,在過去的5年中,Artisan Partners Asset Management TSR爲126%,這比上述股價回報要好。毫無疑問,股息支付在很大程度上解釋了這種差異!
A Different Perspective
不同的觀點
Artisan Partners Asset Management shareholders are up 8.9% for the year (even including dividends). But that return falls short of the market. If we look back over five years, the returns are even better, coming in at 18% per year for five years. Maybe the share price is just taking a breather while the business executes on its growth strategy. 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 Artisan Partners Asset Management you should be aware of.
Artisan Partners Asset Management股東今年的回報率爲8.9%(包括分紅)。但是,該回報率未達到市場的水平。如果我們回顧過去五年,回報率甚至更好,爲每年18%。也許股價只是在等待業務執行其增長策略。將股價作爲業務表現的一個代理來考慮長期表現是非常有趣的。但是,要真正獲得洞察力,我們還需要考慮其他信息。例子:我們已經發現了Artisan Partners Asset Management的2個警告信號,你應該注意。
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?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。