WisdomTree's (NYSE:WT) Five-year Total Shareholder Returns Outpace the Underlying Earnings Growth
WisdomTree's (NYSE:WT) Five-year Total Shareholder Returns Outpace the Underlying Earnings Growth
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. 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 example, the WisdomTree, Inc. (NYSE:WT) share price has soared 112% in the last half decade. Most would be very happy with that. In contrast, the stock has fallen 9.1% in the last 30 days. We note that the broader market is down 1.1% in the last month, and this may have impacted WisdomTree's share price.
在不使用槓桿的情況下,購買某公司股票的最糟糕結果是損失你投入的所有資金。但好的一面是,如果你以合適的價格購買高質量公司的股票,你的收益可能超過100%。例如,WisdomTree, Inc. (紐交所:WT)的股價在過去五年內飆升了112%。大多數人對此會非常滿意。相比之下,該股票在過去30天內下跌了9.1%。我們注意到,整體市場在過去一個月下跌了1.1%,這可能對WisdomTree的股價產生了影響。
Although WisdomTree has shed US$147m from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.
儘管WisdomTree本週的市值減少了14700萬美元,但讓我們看看其長期基本面趨勢,看看這些趨勢是否促進了回報。
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 flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
儘管高效市場假說仍然被一些人教授,但已經證明市場是過度反應的動態系統,投資者並不總是理性。評估公司周圍的情緒如何變化的一種缺陷但合理的方法是比較每股收益(EPS)與股價。
Over half a decade, WisdomTree managed to grow its earnings per share at 77% a year. This EPS growth is higher than the 16% average annual increase in the share price. So one could conclude that the broader market has become more cautious towards the stock.
在過去的五年內,WisdomTree每年實現77%的每股收益增長。這一每股收益增長高於股價每年16%的平均增幅。因此,可以得出結論,整體市場對該股票變得更加謹慎。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
您可以在下面看到EPS如何隨時間變化(點擊圖片可以發現具體數值)。
It's probably worth noting we've seen significant insider buying in the last quarter, which we consider 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 WisdomTree's earnings, revenue and cash flow.
值得注意的是,過去一個季度我們看到大量內部人員買入,這被我們視爲一個積極的信號。不過,我們認爲盈利和營業收入的增長趨勢是更重要的考慮因素。通過查看WisdomTree的盈利、營業收入和現金流的交互圖,深入了解盈利情況。
What About Dividends?
關於分紅派息的問題
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. As it happens, WisdomTree's TSR for the last 5 years was 136%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!
考慮到任何特定股票的總股東回報以及股價回報是很重要的。總股東回報包含任何拆分或折扣融資的價值,以及任何分紅,基於假設分紅再投資的前提下。可以公平地說,總股東回報爲支付分紅的股票提供了更完整的視圖。實際上,WisdomTree在過去五年的總股東回報爲136%,超過了之前提到的股價回報。而且,分紅支付顯然解釋了這一差異!
A Different Perspective
不同的視角
It's good to see that WisdomTree has rewarded shareholders with a total shareholder return of 59% in the last twelve months. And that does include the dividend. That gain is better than the annual TSR over five years, which is 19%. Therefore it seems like sentiment around the company has been positive lately. 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. To that end, you should be aware of the 3 warning signs we've spotted with WisdomTree .
很高興看到WisdomTree在過去十二個月內爲股東帶來了59%的總股東回報。這其中包括分紅。這個增長率超過了五年間的年均總股東回報19%。因此,看起來公司近期的市場情緒一直較爲積極。考慮到股價動能仍然強勁,可能值得對這隻股票進行更深入的研究,以免錯失機會。雖然考慮市場條件對股價的不同影響非常重要,但還有其他更重要的因素。因此,您應該意識到我們發現的WisdomTree的三個警告信號。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: most of them are flying under the radar).
如果你喜歡與管理層一起買入股票,那麼你可能會喜歡這份免費的公司名單。(提示:它們中的大多數都在雷達下飛行)。
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,本文中引用的市場回報反映了當前在美國交易所上市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?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall ST在提到的任何股票中均沒有持倉。
譯文內容由第三人軟體翻譯。
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