AXIS Capital Holdings (NYSE:AXS) Shareholders Have Earned a 16% CAGR Over the Last Three Years
AXIS Capital Holdings (NYSE:AXS) Shareholders Have Earned a 16% CAGR Over the Last Three Years
By buying an index fund, investors can approximate the average market return. But if you pick the right individual stocks, you could make more than that. For example, the AXIS Capital Holdings Limited (NYSE:AXS) share price is up 41% in the last three years, clearly besting the market return of around 18% (not including dividends).
通過購買指數基金，投資者可以追近平均市場回報。但是，如果您選擇正確的個股，您可以賺取更多利潤。例如，AXIS Capital Holdings Limited（紐交所：AXS）的股價在過去三年中上漲了41%，明顯超過了市場回報約18%（不包括股息）。
Let's take a look at the underlying fundamentals over the longer term, and see if they've been consistent with shareholders returns.
讓我們長期看一下潛在的基本面，看看它們是否與股東回報一致。
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just 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).
儘管市場是一個強大的價格機制，但股票價格反映的不僅是潛在業務績效，還反映了投資者的情緒。 了解市場情緒隨時間的變化的一種方法是查看公司的股價與每股收益（EPS）之間的互動。
During three years of share price growth, AXIS Capital Holdings achieved compound earnings per share growth of 55% per year. This EPS growth is higher than the 12% average annual increase in the share price. So one could reasonably conclude that the market has cooled on the stock. This cautious sentiment is reflected in its (fairly low) P/E ratio of 10.61.
在股價增長了三年後，AXIS Capital Holdings實現了55%的複合每股收益增長。這種每股收益增長高於股價平均年增長率12%。因此，一個可以合理地得出的結論是市場對該股票的態度已經冷靜下來。這種謹慎的情緒體現在它（相當低的）市盈率爲10.61上。
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）。
It's good to see that there was some significant insider buying in the last three months. That's a positive. That said, we think earnings and revenue growth trends are even more important factors to consider. Dive deeper into the earnings by checking this interactive graph of AXIS Capital Holdings' earnings, revenue and cash flow.
看到最近三個月內有一些重要的內部買入是好的。這是一個積極因素。儘管如此，我們認爲盈利和營收的增長趨勢更加重要。通過查看AXIS Capital Holdings的盈利、營收和現金流量的交互圖來深入挖掘盈利狀況。
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, AXIS Capital Holdings' TSR for the last 3 years was 54%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
對於任何給定的股票，考慮總股東回報以及股價回報非常重要。而股價回報只反映了股價的變化，TSR還包括股息的價值（假設它們已被再投資）和任何折扣資本籌集或分拆的好處。因此，對於支付慷慨的股息公司而言，TSR通常比股價回報高得多。事實上，AXIS Capital Holdings在過去3年中的TSR爲54%，超過了前面提到的股價回報。這在很大程度上是其股息支付的結果！
A Different Perspective
不同的觀點
It's nice to see that AXIS Capital Holdings shareholders have received a total shareholder return of 37% over the last year. That's including the dividend. That's better than the annualised return of 7% over half a decade, implying that the company is doing better recently. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. 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. Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with AXIS Capital Holdings , and understanding them should be part of your investment process.
很高興看到AXIS Capital Holdings股東在過去的一年中獲得了37%的總股東回報。這已經包括股息了。這比過去半個世紀的年化回報率7%更好，這意味着公司近期表現更好。考慮到股價的動力仍然強勁，很有必要仔細觀察該股票，以免錯失機會。我認爲長期以股價爲業務表現的代理是非常有趣的。但是，爲了真正獲得洞察力，我們還需要考慮其他信息。例如，投資風險的永恒威脅。我們已經識別了AXIS Capital Holdings的1個警告跡象，並且了解它們應該成爲您的投資過程的一部分。
AXIS Capital Holdings is not the only stock that insiders are buying. For those who like to find lesser know companies this free list of growing companies with recent insider purchasing, could be just the ticket.
AXIS Capital Holdings並不是唯一一家內部人員正在購買的股票。對於那些喜歡尋找較少人知道的公司的投資者，這個免費列表的快速增長公司中最近有內部購買的公司，可能就是您要找的。
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？關注內容？請直接與我們聯繫。或者，發送電子郵件至editorial-team@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。