Investors in Encompass Health (NYSE:EHC) Have Seen Favorable Returns of 97% Over the Past Five Years
Investors in Encompass Health (NYSE:EHC) Have Seen Favorable Returns of 97% Over the Past Five Years
When you buy and hold a stock for the long term, you definitely want it to provide a positive return. Better yet, you'd like to see the share price move up more than the market average. But Encompass Health Corporation (NYSE:EHC) has fallen short of that second goal, with a share price rise of 45% over five years, which is below the market return. But if you include dividends then the return is market-beating. On a brighter note, more newer shareholders are probably rather content with the 41% share price gain over twelve months.
当你长期购买和持有股票时，你肯定希望它能提供正回报。更好的是，你希望看到股价的上涨幅度超过市场平均水平。但是Encomass Health Corporation（纽约证券交易所代码：EHC）尚未实现第二个目标，股价在五年内上涨了45％，低于市场回报率。但是，如果将股息包括在内，则回报率将超过市场。好消息是，更多的新股东可能对十二个月内41％的股价涨幅感到满意。
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.
考虑到这一点，值得一看公司的基本面是否是长期业绩的驱动力，或者是否存在一些差异。
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.
尽管一些人继续教导高效市场假说，但事实证明，市场是反应过度的动态系统，投资者并不总是理性的。考虑市场对公司的看法发生了怎样的变化的一种不完美但简单的方法是将每股收益（EPS）的变化与股价走势进行比较。
During five years of share price growth, Encompass Health achieved compound earnings per share (EPS) growth of 4.0% per year. This EPS growth is lower than the 8% average annual increase in the share price. This suggests that market participants hold the company in higher regard, these days. That's not necessarily surprising considering the five-year track record of earnings growth.
在五年的股价增长中，Encompass Health实现了每年4.0％的复合每股收益（EPS）增长。每股收益的增长低于股价年均增长8％。这表明，如今，市场参与者对公司的重视程度更高。考虑到五年的收益增长记录，这并不一定令人惊讶。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
你可以在下面看到 EPS 是如何随着时间的推移而变化的（点击图片发现确切的值）。
It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. This free interactive report on Encompass Health's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
可能值得注意的是，我们在上个季度看到了大量的内幕买盘，我们认为这是积极的。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。如果你想进一步调查该股，这份关于Encomass Health收益、收入和现金流的免费互动报告是一个很好的起点。
What About Dividends?
分红呢？
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Encompass Health's TSR for the last 5 years was 97%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
除了衡量股价回报率外，投资者还应考虑股东总回报率（TSR）。股东总回报率是一种回报计算方法，它考虑了现金分红的价值（假设收到的任何股息都经过再投资）以及任何贴现资本筹集和分拆的计算价值。因此，对于支付丰厚股息的公司来说，股东总回报率通常远高于股价回报率。碰巧的是，Encomass Health在过去5年的股东总回报率为97％，超过了前面提到的股价回报率。这在很大程度上是其股息支付的结果！
A Different Perspective
不同的视角
We're pleased to report that Encompass Health shareholders have received a total shareholder return of 43% over one year. And that does include the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 14% per year), it would seem that the stock's performance has improved in recent times. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. 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. Case in point: We've spotted 1 warning sign for Encompass Health you should be aware of.
我们很高兴地向大家报告，Encomass Health的股东在一年内获得了43％的股东总回报率。这确实包括股息。由于一年期股东总回报率好于五年期股东总回报率（后者为每年14％），因此该股的表现似乎在最近有所改善。在最好的情况下，这可能暗示着一些真正的业务势头，这意味着现在可能是深入研究的好时机。尽管市场状况可能对股价产生的不同影响值得考虑，但还有其他因素更为重要。一个很好的例子：我们发现了一个你应该注意的 Encompass Health 警告信号。
Encompass Health is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Encomass Health并不是内部人士唯一买入的股票。对于那些喜欢寻找获利投资的人来说，这份最近有内幕收购的成长型公司的免费清单可能就是入场券。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American 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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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论，我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议，也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意，我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之，华尔街没有持有任何上述股票的头寸。
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