Investors in Hyatt Hotels (NYSE:H) Have Seen Notable Returns of 94% Over the Past Five Years
Investors in Hyatt Hotels (NYSE:H) Have Seen Notable Returns of 94% Over the Past Five Years
Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the market average. And the truth is, you can make significant gains if you buy good quality businesses at the right price. For example, the Hyatt Hotels Corporation (NYSE:H) share price is up 91% in the last 5 years, clearly besting the market return of around 76% (ignoring dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 33% in the last year, including dividends.
一般來說，積極的選股目的是尋找具有卓越市場回報的公司。事實上，如果以正確的價格購買優質企業股票，您可以獲得顯著的利潤。例如，紐交所凱悅酒店股價在過去5年中上漲了91％，顯然超過了市場回報率約76％（不考慮分紅）。然而，近期的回報並沒有那麼令人印象深刻，股票在過去一年中僅回報33％，包括分紅。
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.
現在值得更詳細地了解該公司的基本面，因爲這將幫助我們判斷長期股東回報是否與基礎業務的表現相匹配。
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。
During the last half decade, Hyatt Hotels became profitable. That would generally be considered a positive, so we'd hope to see the share price to rise.
在過去的半個十年中，凱悅酒店已經變得盈利。這通常被認爲是一個積極的因素，因此我們希望看到股價上漲。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
下面可以看到每股收益隨時間的變化情況（通過點擊圖像來查看確切數值）。
We like that insiders have been buying shares in the last twelve months. Even so, future earnings will be far more important to whether current shareholders make money. This free interactive report on Hyatt Hotels' earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
我們喜歡看到內部人士在過去12個月中購買股票。即便如此，未來的盈利將對當前股東是否賺錢至關重要。如果您想進一步調查該股，凱悅酒店的收入、營業收入和現金流的這份免費互動報告是一個很好的開始。
What About Dividends?
那麼分紅怎麼樣呢？
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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 Hyatt Hotels the TSR over the last 5 years was 94%, 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!
對於任何給定的股票，考慮總股東回報以及股票價格回報都很重要。TSR包含分拆和折價融資的價值，以及基於這樣一種假設，即分紅被再投資。可以說TSR爲支付股息的股票提供了更完整的圖片。我們注意到，就凱悅酒店而言，過去5年的TSR爲94％，這比上面提到的股票價格回報更好。毫不奇怪，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
It's nice to see that Hyatt Hotels shareholders have received a total shareholder return of 33% over the last year. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 14% per year), it would seem that the stock's performance has improved in recent times. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Even so, be aware that Hyatt Hotels is showing 4 warning signs in our investment analysis , and 1 of those makes us a bit uncomfortable...
很高興看到凱悅酒店股東在過去一年中獲得了33％的總股東回報。當然，這包括股息。由於一年的TSR優於五年的TSR（後者爲每年14％），因此似乎該股的表現近期有所改善。考慮到股票的勢頭仍然強勁，可能值得更仔細地觀察該股，以免錯過機會。儘管值得考慮市場狀況可能對股票價格產生的不同影響，但有其他更重要的因素。即便如此，請注意，艾衛公司在我們的投資分析中顯示了4個警告信號，其中1個讓我們感到有點不舒服……
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.
還有很多其他的公司，公司的內部人士正在購買股票。你可能不想錯過這個免費的小市值公司的低估列表。
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。
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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.
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
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譯文內容由第三人軟體翻譯。