Exponent's (NASDAQ:EXPO) Investors Will Be Pleased With Their Decent 68% Return Over the Last Five Years
Exponent's (NASDAQ:EXPO) Investors Will Be Pleased With Their Decent 68% Return Over the Last Five Years
When you buy and hold a stock for the long term, you definitely want it to provide a positive return. Better yet, you'd like to see the share price move up more than the market average. Unfortunately for shareholders, while the Exponent, Inc. (NASDAQ:EXPO) share price is up 60% in the last five years, that's less than the market return. Meanwhile, the last twelve months saw the share price rise 2.8%.
當你買入並長揸一隻股票時，你一定希望它能提供積極的回報。更好的是，你希望看到股價上漲超過市場平均水平。不幸的是，對於股東們而言，雖然Exponent, Inc.（NASDAQ：EXPO）的股價在過去五年中上漲了60％，但這低於市場回報。同時，過去12個月中，股價上漲了2.8%。
With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.
鑑於此，值得看看該公司的基本面是否一直是長期業績的驅動因素，或者是否存在一些不一致之處。
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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.
在他的文章《格雷厄姆和多德斯維爾超級投資者》中，禾倫·巴菲特描述了股票價格並不總是反映公司價值的合理方式。考慮市場對公司的看法如何發生變化的一個不完美但簡單的方法是將每股收益(EPS)的變化與股價的變動進行比較。股票價格並不總是反映公司價值的合理方式禾倫·巴菲特描述了股票價格並不總是理性反映企業價值的情況。通過比較每股收益（EPS）和股價隨時間的變化，我們可以了解投資者對公司的態度如何隨着時間而變化。
Over half a decade, Exponent managed to grow its earnings per share at 7.2% a year. This EPS growth is lower than the 10% average annual increase in the share price. This suggests that market participants hold the company in higher regard, these days. And that's hardly shocking given the track record of growth. This favorable sentiment is reflected in its (fairly optimistic) P/E ratio of 47.21.
在過去的五年中，Exponent有能力以每股收益增長7.2%的速度增長。這個EPS增長率低於股價的10%年均增長率。這表明市場參與者認爲這家公司的價值更高。這並不令人驚訝，考慮到Exponent的增長記錄。這種積極的情緒反映在公司的（相當樂觀的）P / E比率爲47.21上。
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）。
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. It might be well worthwhile taking a look at our free report on Exponent's earnings, revenue and cash flow.
我們很高興地報告，該公司的首席執行官的報酬比同規模公司的大多數首席執行官要低。了解CEO的工資很重要，但更重要的問題是公司是否會在未來增加盈利。看一下我們的Exponent收益，營業收入和現金流量的免費報告可能非常有價值。
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. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Exponent's TSR for the last 5 years was 68%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.
考慮股票的總體股東回報率和股價回報率非常重要。而股價回報率僅反映了股價的變化，TSR包括股息價值（假設它們被再投資）和任何折扣資本籌集或分拆帶來的利益。因此，對於支付可觀股息的公司而言，TSR往往比股價回報率高得多。恰好，Exponent在過去5年的TSR爲68％，超過了前面提到的股價回報率。公司支付的股息因此提高了回報率。總股東回報。
A Different Perspective
不同的觀點
Exponent provided a TSR of 4.1% over the last twelve months. But that was short of the market average. On the bright side, the longer term returns (running at about 11% a year, over half a decade) look better. It may well be that this is a business worth popping on the watching, given the continuing positive reception, over time, from the market. It's always interesting to track share price performance over the longer term. But to understand Exponent better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with Exponent , and understanding them should be part of your investment process.
Exponent在過去的12個月中提供了4.1％的TSR。但這低於市場平均水平。好的一面是，長期回報（在過去的五年中年平均大約爲11％）看起來更好。考慮到市場持續的積極反響，這可能是一個值得關注的業務。長期跟蹤股價表現總是很有趣的。但爲了更好地了解Exponent，我們需要考慮許多其他因素。例如，考慮到投資風險的永恒幽靈，我們已經發現了1個關於Exponent的警示標誌，了解它們應該成爲你的投資過程的一部分。
If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.
如果您像我一樣，就不會希望錯過這份免費的內部人士正在購買的低估小市值股票列表。
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。