The Total Return for Pentair (NYSE:PNR) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
The Total Return for Pentair (NYSE:PNR) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But on a lighter note, a good company can see its share price rise well over 100%. For example, the Pentair plc (NYSE:PNR) share price has soared 121% in the last half decade. Most would be very happy with that. On the other hand, the stock price has retraced 3.4% in the last week. But note that the broader market is down 0.6% since last week, and this may have impacted Pentair's share price.
在任何股票上的最大虧損(假設您不使用槓桿)是您的全部投資。但是好的公司股價可以上漲超過100%。例如，過去五年中濱特爾股票價格猛漲121%。大多數人會對此感到非常高興。另一方面，股價在上週回撤了3.4%。請注意，自上週以來，整個市場下跌了0.6%，這可能影響了濱特爾的股價。
Although Pentair has shed US$473m from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.
儘管濱特爾本週市值減少了4.73億美元，但讓我們看看其長期基本趨勢是否推動了回報。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.
無可否認，市場有時是有效的，但價格並不總是反映基礎業務的績效。一種有缺陷但合理的評估公司周圍情緒如何變化的方法是將每股收益（EPS）與股價進行比較。
During five years of share price growth, Pentair achieved compound earnings per share (EPS) growth of 16% per year. This EPS growth is reasonably close to the 17% average annual increase in the share price. That suggests that the market sentiment around the company hasn't changed much over that time. In fact, the share price seems to largely reflect the EPS growth.
在股價增長的五年期間，濱特爾實現了每股收益(EPS)複合增長16%。這種EPS增長與股價平均年增長率17%相當接近。這表明市場對公司的情緒在那段時間內並沒有發生太大變化。實際上，股價似乎主要反映了EPS的增長。
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
該公司的每股收益（隨時間的推移）如下圖所示（單擊可查看確切數字）。
NYSE:PNR Earnings Per Share Growth June 4th 2024
紐交所:PNR每股收益增長2024年6月4日
We know that Pentair has improved its bottom line lately, but is it going to grow revenue? If you're interested, you could check this free report showing consensus revenue forecasts.
我們知道濱特爾最近提高了淨利潤，但是它將增長營業收入嗎？如果您感興趣，可以查看這份免費報告，其中顯示了共識收入預測。
What About Dividends?
那麼分紅怎麼樣呢？
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. We note that for Pentair the TSR over the last 5 years was 139%, 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!
在考慮投資回報率時，重要的是要考慮總股東回報(TSR)和股價回報之間的差異。TSR是一種計算回報的方法，考慮到現金股利的價值(假設任何股息都已再投資)以及任何折扣融資和分拆的計算價值。因此，對於那些支付慷慨的股利的公司，TSR通常比股價回報高得多。我們注意到，對於濱特爾，過去5年的TSR爲139%，這比上面提到的股價回報好。當然，股息付款很大程度上解釋了這種差異！
A Different Perspective
不同的觀點
We're pleased to report that Pentair shareholders have received a total shareholder return of 40% over one year. 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. 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. For example, we've discovered 1 warning sign for Pentair that you should be aware of before investing here.
我們很高興地報告，濱特爾股東在一年內獲得了40%的總股東回報，包括股息。這個增益好於五年的平均TSR(19%)。因此，最近公司股東情緒積極看待。持樂觀態度的人可能會認爲，TSR的最近改善表明企業本身正在逐漸進步。雖然考慮到市場條件可能對股價產生不同的影響是非常值得的，但還有其他更重要的因素。例如，在在此之前，我們發現了1個警告濱特爾投資前應該注意的風險。
Of course Pentair may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
當然，濱特爾可能不是最佳的股票選擇。因此，您可以查看這些成長股票的免費收集。
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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