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Radian Group's (NYSE:RDN) Earnings Growth Rate Lags the 13% CAGR Delivered to Shareholders

Radian Group's (NYSE:RDN) Earnings Growth Rate Lags the 13% CAGR Delivered to Shareholders

Radian Group(紐交所:RDN)的收益增長率落後於股東實現的13%的複合年增長率。
Simply Wall St ·  01/12 14:03

Radian Group Inc. (NYSE:RDN) shareholders might be concerned after seeing the share price drop 12% in the last quarter. In contrast the stock has done reasonably well over three years. It beat the market return of 25% in that time, gaining 30%.

Radian Group Inc. (紐交所:RDN)的股東在看到股價在上個季度下降12%後可能會感到擔憂。相反,這隻股票在過去三年表現相當不錯。在這段時間內,它的回報率超過了市場的25%,上漲了30%。

In light of the stock dropping 5.1% in the past week, we want to investigate the longer term story, and see if fundamentals have been the driver of the company's positive three-year return.

鑑於該股票在過去一週下跌了5.1%,我們希望調查更長期的情況,看看基本面是否驅動了公司積極的三年回報。

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. 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.

儘管有效市場假說仍然被一些人教授,但已經證明市場是一種反應過度的動態系統,投資者並不總是理性。通過比較每股收益(EPS)和股價變化,我們可以感受到投資者對公司的態度在一段時間內是如何變化的。

Radian Group was able to grow its EPS at 12% per year over three years, sending the share price higher. This EPS growth is higher than the 9% 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 7.61.

Radian Group在三年內每年能夠將每股收益增長12%,推動股價上漲。這一每股收益的增長高於股票的年均增長9%。因此,可以合理地得出結論,市場對這隻股票的熱情有所減退。這種謹慎的情緒反映在其(相對較低的)市盈率爲7.61。

The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).

公司的每股收益(隨時間)如下圖所示(點擊查看確切數字)。

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NYSE:RDN Earnings Per Share Growth January 12th 2025
紐交所:RDN 每股收益增長 2025年1月12日

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,我們總是建議仔細審查歷史增長趨勢,詳情請見這裏。

What About Dividends?

關於分紅派息的問題

When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Radian Group the TSR over the last 3 years was 44%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!

在考慮投資回報時, 重要的是要了解總股東回報(TSR)和股價回報之間的差異。 股價回報僅反映股價的變化,而總股東回報包括分紅的價值(假設已經再投資)以及任何折價資本融資或分拆的好處。 可以說,總股東回報提供了股票產生的回報的更全面的視角。 我們注意到,Radian Group在過去三年的總股東回報爲44%,這優於上述股價回報。 這主要得益於其分紅支付!

A Different Perspective

不同的視角

Radian Group shareholders are up 9.3% for the year (even including dividends). Unfortunately this falls short of the market return. The silver lining is that the gain was actually better than the average annual return of 7% per year over five year. It is possible that returns will improve along with the business fundamentals. It's always interesting to track share price performance over the longer term. But to understand Radian Group better, we need to consider many other factors. To that end, you should learn about the 3 warning signs we've spotted with Radian Group (including 1 which makes us a bit uncomfortable) .

Radian Group的股東今年上漲了9.3%(包括分紅在內)。 不幸的是,這低於市場回報。 令我們感到欣慰的是,這一增長實際上好於過去五年每年7%的平均年回報。 隨着業務基本面的改善,回報有可能會提升。 追蹤股價表現的長期趨勢總是很有趣。 但要更好地理解Radian Group,我們需要考慮許多其他因素。 爲此,您應該了解我們發現的Radian Group的三個警示信號(其中一個讓我們有些不安)。

If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: many of them are unnoticed AND have attractive valuation).

如果你喜歡與管理層一起買入股票,那麼你可能會喜歡這個免費的公司名單。(提示:很多公司鮮爲人知,而且估值吸引。)

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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