Maximus' (NYSE:MMS) Investors Will Be Pleased With Their 23% Return Over the Last Five Years
Maximus' (NYSE:MMS) Investors Will Be Pleased With Their 23% Return Over the Last Five Years
If you buy and hold a stock for many years, you'd hope to be making a profit. But more than that, you probably want to see it rise more than the market average. Unfortunately for shareholders, while the Maximus, Inc. (NYSE:MMS) share price is up 14% in the last five years, that's less than the market return. Zooming in, the stock is up just 2.3% in the last year.
如果你購買並持有一隻股票多年，你希望能獲利。但更重要的是，你可能希望它的漲幅超過市場平均水平。不幸的是，對於股東來說，雖然Maximus公司（紐交所：MMS）的股價在過去五年中上漲了14％，但這仍低於市場回報。具體來看，該股票在過去一年中僅上漲了2.3％。
So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress.
那麼，讓我們調查一下並查看公司的長期表現是否符合基本業務的進展。
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).
在他的文章《格雷厄姆和多德斯維爾超級投資者》中，禾倫·巴菲特描述了股票價格並不總是反映公司價值的合理方式。考慮市場對公司的看法如何發生變化的一個不完美但簡單的方法是將每股收益(EPS)的變化與股價的變動進行比較。股票價格並不總是反映公司價值的合理方式禾倫·巴菲特曾稱，股票價格並不總是合理地反映了企業的價值。檢查市場情緒如何隨時間變化的一種方法是查看公司股價和每股收益（EPS）之間的互動。
Over half a decade, Maximus managed to grow its earnings per share at 2.3% a year. This EPS growth is reasonably close to the 3% 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.
在過去的五年中，Maximus成功以每股收益年增長2.3％的速度增長。這種每股收益增長與股價每年平均增長3％相當接近。這表明公司周圍的市場情緒在這段時間內沒有發生太大變化。事實上，股價似乎在很大程度上反映了每股收益的增長。
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）。
We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. This free interactive report on Maximus' earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
我們認爲內部人士在過去一年中進行了重要的拋售，這是積極的跡象。儘管如此，大多數人認爲盈利和營收增長趨勢是業務更有意義的指導。如果你想進一步調查股票，可以在比利時艾衛公司的官網上找到有關Maximus的盈利、營收和現金流的免費交互式報告。
What About Dividends?
那麼分紅怎麼樣呢？
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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 Maximus the TSR over the last 5 years was 23%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
對於任何給定的股票，重要的是考慮總股東回報以及股票的回報。TSR是一種回報計算方法，考慮了現金股息（假設任何收到的紅利都被再投資）的價值以及任何折價的資本募集和分拆的計算價值。因此，對於支付豐厚紅利的公司，TSR通常比股票回報高得多。我們注意到Maximus在過去5年中的TSR爲23％，這比上述股票回報要好。這主要是其紅利支付的結果！
A Different Perspective
不同的觀點
Maximus provided a TSR of 3.9% over the last twelve months. Unfortunately this falls short of the market return. It's probably a good sign that the company has an even better long term track record, having provided shareholders with an annual TSR of 4% over five years. It's quite possible the business continues to execute with prowess, even as the share price gains are slowing. 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 1 warning sign we've spotted with Maximus .
Maximus在過去12個月內提供了3.9％的TSR，不幸的是這低於市場回報。公司擁有更好的長期業績記錄，爲股東提供了五年4％的年度TSR，這可能是一個好的跡象。儘管股價增長正在放緩，但公司仍然可能繼續執行業務。雖然考慮市場情況對股價可能產生的不同影響是非常有價值的，但還有其他更重要的因素。爲此，你應該注意我們發現的Maximus的1個警告標誌。
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).
如果您喜歡與管理層共同購買股票，那麼您可能會喜歡這個免費的公司列表（提示：大多數公司沒有受到關注）。
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。
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？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。