Napco Security Technologies' (NASDAQ:NSSC) 29% CAGR Outpaced the Company's Earnings Growth Over the Same Five-year Period
Napco Security Technologies' (NASDAQ:NSSC) 29% CAGR Outpaced the Company's Earnings Growth Over the Same Five-year Period
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But on the bright side, you can make far more than 100% on a really good stock. One great example is Napco Security Technologies, Inc. (NASDAQ:NSSC) which saw its share price drive 253% higher over five years. It's also good to see the share price up 37% over the last quarter.
在購買公司股票後，最壞的結果（不考慮槓桿）是您將失去所有投入的資金。但好的一面是，您可以在好的股票上獲得超過100%的回報，一個很好的例子是納斯達克（NASDAQ）：Napco Security Technologies股票在五年內上漲了253%。並且股票價格在過去的季度上漲了37%。
Since it's been a strong week for Napco Security Technologies shareholders, let's have a look at trend of the longer term fundamentals.
由於Napco Security Technologies的股東在本週表現強勁，讓我們來看看長期基本面的趨勢。
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。
During five years of share price growth, Napco Security Technologies achieved compound earnings per share (EPS) growth of 33% per year. This EPS growth is reasonably close to the 29% average annual increase in the share price. Therefore one could conclude that sentiment towards the shares hasn't morphed very much. Indeed, it would appear the share price is reacting to the EPS.
在五年的股票價格增長期間，Napco Security Technologies的每股收益（EPS）複合增長率爲33%每年。這一EPS增長率與股票價格的平均年增長率29%非常接近。因此，人們可以得出結論，股票的情緒變化不大。實際上，股票價格似乎是對EPS的反應。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下面的圖片中查看每股收益如何隨時間變化（單擊圖表以查看確切的價值）。
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here..
我們很高興報告說，該公司的CEO薪酬比同等資本化公司中的大多數CEO要低得多。但是，儘管CEO薪酬值得檢查，但真正重要的問題是該公司是否能夠在未來增長收益。在買入或賣出股票之前，我們始終建議進行歷史增長趨勢的仔細研究，可以在這裏獲得歷史數據。
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). 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Napco Security Technologies' TSR for the last 5 years was 257%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
除了衡量股票價格回報之外，投資者還應考慮總股東回報（TSR）。TSR是一種回報計算方法，考慮到現金分紅的價值（假設收到的任何分紅都是再投資，並考慮到任何折價的股本募集和剝離的計算價值）。可以說，TSR可以爲支付股息的股票提供更全面的圖片。事實上，Napco Security Technologies在過去5年的TSR爲257%，超過了之前提到的股票價格回報。這主要是其分紅支付的結果！
A Different Perspective
不同的觀點
It's good to see that Napco Security Technologies has rewarded shareholders with a total shareholder return of 48% in the last twelve months. And that does include the dividend. That's better than the annualised return of 29% over half a decade, implying that the company is doing better recently. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. 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 Napco Security Technologies that you should be aware of before investing here.
好在Napco Security Technologies在過去12個月中以總股東收益率48%回報了股東，其中包括股息。這比半個世紀以來的年化回報率29%要好，這意味着該公司近期表現更好。鑑於股票價格的勢頭仍然強勁，您可能需要更仔細地觀察這隻股票，以免錯過機會。雖然值得考慮市場條件對股票價格的不同影響，但還有其他更重要的因素。例如，我們發現了1個警告信號，需要您在投資這裏之前注意。
Of course Napco Security Technologies may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
當然，Napco Security Technologies可能並不是最好的股票選擇。因此，您可能希望查看這個成長股的免費收藏。
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。