Investors in Westinghouse Air Brake Technologies (NYSE:WAB) Have Seen Splendid Returns of 123% Over the Past Five Years
Investors in Westinghouse Air Brake Technologies (NYSE:WAB) Have Seen Splendid Returns of 123% Over the Past Five Years
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But on the bright side, if you buy shares in a high quality company at the right price, you can gain well over 100%. For instance, the price of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) stock is up an impressive 116% over the last five years. In the last week shares have slid back 1.8%.
在購買公司股票後（不考慮槓桿），最糟糕的結果就是你失去了所有的本金。但是，如果你以正確的價格購買高質量的公司股票，你可以獲得超過100％的回報。例如，美國西屋制動公司（NYSE：WAB）的股票價格在過去五年中上漲了驚人的116％。而在最近一週，股票價格下跌了1.8％。
So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress.
那麼，讓我們調查一下並查看公司的長期表現是否符合基本業務的進展。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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).
市場有時無疑是高效的，但價格並不總是反映基礎業務表現。 一種檢查市場情緒如何隨時間改變的方法是查看公司的股價與每股收益（EPS）之間的互動。
During five years of share price growth, Westinghouse Air Brake Technologies achieved compound earnings per share (EPS) growth of 21% per year. The EPS growth is more impressive than the yearly share price gain of 17% over the same period. Therefore, it seems the market has become relatively pessimistic about the company.
在股價增長的五年期間，美國西屋制動技術實現了每股收益的複合增長率達21％。EPS的增長比同期年股價增長17％更令人印象深刻。因此，市場對該公司的看法似乎已經比較悲觀。
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）。
We know that Westinghouse Air Brake Technologies has improved its bottom line over the last three years, but what does the future have in store? Take a more thorough look at Westinghouse Air Brake Technologies' financial health with this free report on its balance sheet.
我們知道美國西屋制動技術在過去三年中改善了其基本盈利能力，但未來會怎樣呢？請通過這份關於其資產負債表的免費報告更加全面地了解美國西屋制動技術的財務健康狀況。
What About Dividends?
那麼分紅怎麼樣呢？
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Westinghouse Air Brake Technologies, it has a TSR of 123% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.
在衡量股票回報率的同時，投資者還應考慮股東總回報率（TSR）。TSR是一種回報率計算方法，考慮了現金股利的價值（假設重新投資任何股利）以及任何折價股票發行和剝離的計算價值。因此，對於支付豐厚股息的公司，TSR通常比股票回報要高得多。對於美國西屋制動技術而言，過去五年的TSR爲123％，超過了我們之前提到的股票回報率。公司支付的股息因此得到了提高。總股東回報。
A Different Perspective
不同的觀點
It's nice to see that Westinghouse Air Brake Technologies shareholders have received a total shareholder return of 48% over the last year. That's including the dividend. That gain is better than the annual TSR over five years, which is 17%. Therefore it seems like sentiment around the company has been positive lately. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. It's always interesting to track share price performance over the longer term. But to understand Westinghouse Air Brake Technologies better, we need to consider many other factors. For example, we've discovered 1 warning sign for Westinghouse Air Brake Technologies that you should be aware of before investing here.
很高興看到美國西屋制動技術股東在過去一年中獲得了48％的股東總回報。這已經包括了股息。這個增長比五年的平均TSR 17％還要好。因此，最近該公司的情緒似乎很積極。鑑於股票價格的勢頭保持強勁，值得更仔細地研究該股票，以免錯過機會。跟蹤股價在較長時間內的表現總是有趣的。但要更好地了解美國西屋制動技術，我們需要考慮許多其他因素。例如，我們已發現一項關於在此處進行投資之前該公司的一個警示。
But note: Westinghouse Air Brake Technologies may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
但請注意：美國西屋制動技術可能不是最好的股票買入選擇。因此，不妨看一下這個免費的有過去收益增長（以及更進一步增長預測）的有趣公司列表。
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？關於內容有所顧慮？直接和我們聯繫。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？關於內容有所顧慮？直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。