Investors in Analog Devices (NASDAQ:ADI) Have Seen Splendid Returns of 125% Over the Past Five Years
Investors in Analog Devices (NASDAQ:ADI) Have Seen Splendid Returns of 125% Over the Past Five Years
The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But on the bright side, you can make far more than 100% on a really good stock. Long term Analog Devices, Inc. (NASDAQ:ADI) shareholders would be well aware of this, since the stock is up 105% in five years. It's also good to see the share price up 21% over the last quarter. The company reported its financial results recently; you can catch up on the latest numbers by reading our company report.
任何股票的最大虧損（假設您不使用槓桿）是您的全部資金的100%。但是好消息是，如果一支股票表現非常好，那麼您可以賺取遠遠超過100%的收益。長揸納斯達克亞德諾公司（NASDAQ: ADI）的股東應該非常清楚這一點，因爲股票在五年內上漲了105%。同時，我們也很高興看到，在過去的一個季度中，這隻股票的股價上漲了21%。公司最近公佈了其財務業績，您可以通過閱讀我們的公司報告了解最新的數據。
Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business.
現在值得更詳細地了解該公司的基本面，因爲這將幫助我們判斷長期股東回報是否與基礎業務的表現相匹配。
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 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).
雖然有效市場假說仍然被一些人教授，但被證明市場是過度反應的動態系統，投資者並不總是理性的。檢查市場情緒如何隨時間變化的一種方法是看一個公司的股價與其每股收益（EPS）之間的交互作用。
During five years of share price growth, Analog Devices achieved compound earnings per share (EPS) growth of 0.8% per year. This EPS growth is lower than the 15% average annual increase in the share price. So it's fair to assume the market has a higher opinion of the business than it did five years ago. That's not necessarily surprising considering the five-year track record of earnings growth. This optimism is visible in its fairly high P/E ratio of 53.60.
在五年的股價上漲期間，亞德諾的複合每股收益（EPS）增長率爲每年0.8%。這種EPS增長低於股價每年平均增長率15%。因此，可以合理地假設市場對亞德諾的評價高於五年前。考慮到過去五年的盈利增長記錄，這並不令人意外。這種樂觀情緒反映在它相當高的市盈率53.60中。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下圖顯示了EPS隨時間變化的情況（點擊圖像以顯示確切值）。
This free interactive report on Analog Devices' earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
如果您想進一步調查該股票，可以免費互動地查看亞德諾的收益、營收和現金流情況。
What About Dividends?
那麼分紅怎麼樣呢？
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Analog Devices' TSR for the last 5 years was 125%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.
除了衡量股價回報外，投資者還應考慮總股東回報率（TSR）。股價回報只反映股價變化，而TSR包括股息的價值（假設它們被再投資）和任何打折的融資或分拆的好處。因此，對於支付豐厚股息的公司，TSR通常比股價回報高得多。恰巧亞德諾在過去五年的TSR爲125%，超過了前面提到的股價回報。公司支付的股息也加強了TSR。總股東回報。
A Different Perspective
不同的觀點
Analog Devices shareholders have received returns of 25% over twelve months (even including dividends), which isn't far from the general market return. That gain looks pretty satisfying, and it is even better than the five-year TSR of 18% per year. Even if the share price growth slows down from here, there's a good chance that this is business worth watching in the long term. It's always interesting to track share price performance over the longer term. But to understand Analog Devices better, we need to consider many other factors. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for Analog Devices you should know about.
亞德諾的股東在過去12個月內獲得25%的回報（包括股息），這與整個市場的回報差不多。這種收益看起來相當令人滿意，甚至比五年期TSR的18%每年還要好。即使股價增長從現在開始放緩，這也是一家值得長期關注的公司。跟蹤股價表現始終是一件有趣的事情。但要更好地理解亞德諾，我們需要考慮許多其他因素。例如，考慮風險。每個公司都有風險，而我們也發現了一種關於亞德諾的警告信號，您應該知道。
For those who like to find winning investments this free list of undervalued companies with recent insider purchasing, could be just the ticket.
對於那些喜歡尋找獲勝投資的人來說，最近有內部購買的低估公司免費列表可能是一個很好的選擇。
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
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譯文內容由第三人軟體翻譯。