Southern Copper (NYSE:SCCO) Shareholders Have Earned a 36% CAGR Over the Last Five Years
Southern Copper (NYSE:SCCO) Shareholders Have Earned a 36% CAGR Over the Last Five Years
Over half a decade, Southern Copper managed to grow its earnings per share at 14% a year. This EPS growth is slower than the share price growth of 30% per year, over the same period. So it's fair to assume the market has a higher opinion of the business than it did five years ago. And that's hardly shocking given the track record of growth. When you buy a stock there is always a possibility that it could drop 100%. 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 Southern Copper Corporation (NYSE:SCCO) stock is up an impressive 268% over the last five years. It's also up 15% in about a month.
當您購買股票時，總會有可能下跌100%。但從好的一面來看，如果您以正確的價格購買了高品質公司的股票，您可以獲得超過100%的收益。例如，紐交所上的南方銅業(美國:SCCO)股票在過去五年中漲幅驚人的268%。大約一個月來也上漲了15%。
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。
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...' 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).
引用巴菲特的話，「船隻會在世界各地航行，但扁平地球協會將空前盛行。市場上的價格和價值將繼續存在巨大差異… 」檢查市場情緒如何隨時間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。
Over half a decade, Southern Copper managed to grow its earnings per share at 14% a year. This EPS growth is slower than the share price growth of 30% per year, over the same period. So it's fair to assume the market has a higher opinion of the business than it did five years ago. And that's hardly shocking given the track record of growth.
在半個多世紀的時間裏，南方銅業設法以每年14%的速度增長每股收益。這種每股收益的增長速度比同一時期每年30%的股價增長速度要慢。因此，合理地假設市場對該公司的看法比五年前更高。考慮到增長記錄，這並不令人驚訝。
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 probably worth noting that the CEO is paid less than the median at similar sized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. Dive deeper into the earnings by checking this interactive graph of Southern Copper's earnings, revenue and cash flow.
值得注意的是，CEO的薪酬低於類似規模公司的中位數。但是，雖然CEO的薪酬值得檢查，但真正重要的問題是公司未來是否能夠增長收入。通過查看南方銅業的收入、營業收入和現金流的交互式圖表，可以深入了解收益情況。
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 incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Southern Copper, it has a TSR of 360% 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.
除了衡量股價回報，投資者還應考慮總股東回報率（TSR）。TSR包括任何分拆或折價增資的價值，以及任何分紅，基於分紅再投資的假設。因此，對於支付慷慨分紅的公司，TSR往往比股價回報高得多。以南方銅業爲例，過去5年其TSR達到360%。這超過了先前提到的股價回報。公司支付的股息因此提升了總股東回報。
A Different Perspective
不同的觀點
It's nice to see that Southern Copper shareholders have received a total shareholder return of 67% over the last year. And that does include the dividend. That gain is better than the annual TSR over five years, which is 36%. Therefore it seems like sentiment around the company has been positive lately. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. 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. To that end, you should be aware of the 2 warning signs we've spotted with Southern Copper .
很高興看到南方銅業股東在過去一年中獲得了總股東回報率爲67%。這包括股息。這一增益優於過去五年的年度TSR，爲36%。因此，近期公司周圍的情緒似乎是積極的。持有樂觀態度的人可能會認爲TSR的最近提高表明公司本身正在與時俱進。雖然考慮市場條件對股價可能產生的不同影響很重要，但更重要的是其他因素。因此，您應該注意我們在南方銅業發現的2個警示信號。
We will like Southern Copper 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.
如果我們看到一些大額內部買入，我們會更喜歡南方銅業的股票。在等待時，請查看這份免費的低估股票名單（主要是小市值股票），其中包括近期有實質性內部買入的股票。
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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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。
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