Coca-Cola FEMSA. De (NYSE:KOF) Shareholders Have Earned a 18% CAGR Over the Last Three Years
Coca-Cola FEMSA. De (NYSE:KOF) Shareholders Have Earned a 18% CAGR Over the Last Three Years
By buying an index fund, investors can approximate the average market return. But if you buy good businesses at attractive prices, your portfolio returns could exceed the average market return. Just take a look at Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF), which is up 45%, over three years, soundly beating the market return of 12% (not including dividends). On the other hand, the returns haven't been quite so good recently, with shareholders up just 8.8%, including dividends.
通過購買指數基金,投資者可以估算出平均市場回報率。但是,如果你以誘人的價格收購優秀的企業,你的投資組合回報率可能會超過平均市場回報。看看可口可樂FEMSA,S.a.b. de C.V.(紐約證券交易所代碼:KOF),它在三年內上漲了45%,遠遠超過了12%的市場回報率(不包括股息)。另一方面,最近的回報並不那麼好,股東僅增長了8.8%,包括股息。
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.
考慮到這一點,值得一看公司的基本面是否是長期業績的驅動力,或者是否存在一些差異。
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
儘管一些人繼續教導高效市場假說,但事實證明,市場是反應過度的動態系統,投資者並不總是理性的。考慮市場對公司的看法發生了怎樣的變化的一種不完美但簡單的方法是將每股收益(EPS)的變化與股價走勢進行比較。
During three years of share price growth, Coca-Cola FEMSA. de achieved compound earnings per share growth of 21% per year. This EPS growth is higher than the 13% average annual increase in the share price. Therefore, it seems the market has moderated its expectations for growth, somewhat.
在三年的股價增長中,可口可樂FEMSA. de實現了每年21%的複合每股收益增長。每股收益的增長高於股價年均增長13%。因此,市場似乎在某種程度上放緩了對增長的預期。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下圖中看到 EPS 隨時間推移的變化(點擊圖表查看確切值)。
![big](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240912/0-0dba4df6952c16ad58648af4febfbf55-0-8763157e877a822c2602ea0afc627ddf.png/big)
Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.
在買入或賣出股票之前,我們始終建議仔細研究歷史增長趨勢,可在此處查閱。
What About Dividends?
分紅呢?
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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for Coca-Cola FEMSA. de the TSR over the last 3 years was 63%, 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!
重要的是要考慮任何給定股票的股東總回報率和股價回報率。儘管股價回報率僅反映股價的變化,但股東總回報率包括股息的價值(假設已進行再投資)以及任何折扣融資或分拆的收益。可以公平地說,股東總回報率爲支付股息的股票提供了更完整的畫面。我們注意到,可口可樂FEMSA. de在過去3年的股東總回報率爲63%,好於上述股價回報率。而且,猜測股息支付在很大程度上解釋了這種分歧是沒有好處的!
A Different Perspective
不同的視角
Coca-Cola FEMSA. de shareholders are up 8.8% for the year (even including dividends). But that was short of the market average. If we look back over five years, the returns are even better, coming in at 11% per year for five years. It's quite possible the business continues to execute with prowess, even as the share price gains are slowing. Before forming an opinion on Coca-Cola FEMSA. de you might want to consider the cold hard cash it pays as a dividend. This free chart tracks its dividend over time.
可口可樂FEMSA. de的股東今年增長了8.8%(甚至包括股息)。但這低於市場平均水平。如果我們回顧五年,回報率甚至更高,五年內每年爲11%。儘管股價上漲放緩,但該業務很有可能繼續保持強勁的執行力。在對可口可樂FEMSA. de發表意見之前,你可能需要考慮將其支付的冷硬現金作爲股息。這張免費圖表追蹤了其一段時間內的股息。
We will like Coca-Cola FEMSA. de better if we see some big insider buys. While we wait, check out this free list of undervalued stocks (mostly small caps) with considerable, recent, insider buying.
如果我們看到一些重大的內幕收購,我們會更喜歡可口可樂FEMSA。在我們等待的同時,請查看這份被低估的股票(主要是小盤股)的免費清單,這些股票最近有大量的內幕買盤。
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,本文引用的市場回報反映了目前在美國交易所交易的股票的市場加權平均回報。
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。
譯文內容由第三人軟體翻譯。