Federal Agricultural Mortgage's (NYSE:AGM) earnings growth rate lags the 14% CAGR delivered to shareholders
Federal Agricultural Mortgage's (NYSE:AGM) earnings growth rate lags the 14% CAGR delivered to shareholders
It hasn't been the best quarter forFederal Agricultural Mortgage Corporation(NYSE:AGM) shareholders, since the share price has fallen 19% in that time. On the bright side the share price is up over the last half decade. However we are not very impressed because the share price is only up 65%, less than the market return of 79%.
这不是今年以来最好的一个季度联邦农业抵押贷款公司(纽约证券交易所股票代码：AGM)的股东，因为在此期间股价下跌了19%。从好的方面来看，该公司股价在过去五年里有所上涨。然而，我们并不是很印象深刻，因为股价只上涨了65%，低于79%的市场回报率。
Since the long term performance has been good but there's been a recent pullback of 5.5%, let's check if the fundamentals match the share price.
由于长期表现良好，但最近出现了5.5%的回调，让我们看看基本面是否与股价匹配。
Check out our latest analysis for Federal Agricultural Mortgage
查看我们对联邦农业抵押贷款的最新分析
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.
不可否认，市场有时是有效的，但价格并不总是反映潜在的商业表现。一种不完美但简单的方法来考虑市场对一家公司的看法是如何改变的，那就是将每股收益(EPS)的变化与股价走势进行比较。
Over half a decade, Federal Agricultural Mortgage managed to grow its earnings per share at 10% a year. That makes the EPS growth particularly close to the yearly share price growth of 10%. Therefore one could conclude that sentiment towards the shares hasn't morphed very much. Rather, the share price has approximately tracked EPS growth.
在过去的五年里，联邦农业抵押贷款公司的每股收益以每年10%的速度增长。这使得每股收益的增长特别接近股价10%的年增长率。因此，人们可以得出这样的结论：投资者对这些股票的情绪没有太大变化。相反，该公司股价已大致追随每股收益的增长。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).NYSE:AGM Earnings Per Share Growth May 13th 2022
您可以在下图中看到每股收益随时间的变化(单击图表查看精确值)。纽约证券交易所：AGM每股收益增长2022年5月13日
It's good to see that there was some significant insider buying in the last three months. That's a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here..What About Dividends?
很高兴看到，在过去的三个月里，出现了一些重大的内幕收购。这是一个积极的消息。另一方面，我们认为收入和收益趋势是衡量业务的更有意义的指标。在买卖股票之前，我们总是建议仔细检查一下历史增长趋势，可在此处找到。那股息呢？
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. We note that for Federal Agricultural Mortgage the TSR over the last 5 years was 96%, 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!A Different Perspective
除了衡量股价回报外，投资者还应考虑总股东回报(TSR)。TSR包括任何剥离或贴现融资的价值，以及任何股息，基于股息再投资的假设。因此，对于支付丰厚股息的公司来说，TSR往往比股价回报高得多。我们注意到，联邦农业抵押贷款过去5年的TSR为96%，好于上文提到的股价回报。而且，猜测股息支付在很大程度上解释了这种差异是没有好处的！不同的视角
We're pleased to report that Federal Agricultural Mortgage shareholders have received a total shareholder return of 2.0% over one year. And that does include the dividend. Having said that, the five-year TSR of 14% a year, is even better. Potential buyers might understandably feel they've missed the opportunity, but it's always possible business is still firing on all cylinders. 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. Even so, be aware that Federal Agricultural Mortgage is showing1 warning sign in our investment analysis, you should know about...
我们很高兴地报告，联邦农业抵押贷款公司的股东在一年内获得了2.0%的总股东回报。这确实包括了股息。话虽如此，每年14%的五年期TSR更好。潜在买家可能会觉得不及预期期待着这个机会，这是可以理解的，但业务仍有可能仍然全速运转。我发现，把股价作为衡量企业业绩的长期指标是非常有趣的。但为了真正获得洞察力，我们还需要考虑其他信息。即便如此，请注意，联邦农业抵押贷款正在显示在我们的投资分析中出现1个警告信号，你应该知道关于……
Federal Agricultural Mortgage is not the only stock insiders are buying. So take a peek at thisfreelist of growing companies with insider buying.
联邦农业抵押贷款并不是业内人士唯一买入的股票。所以让我们来看看这个免费内幕收购的成长型公司名单。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.
请注意，本文引用的市场回报反映了目前在美国交易所交易的股票的市场加权平均回报。
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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.
本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
译文内容由第三方软件翻译。