Riverstone Holdings (SGX:AP4) Stock Performs Better Than Its Underlying Earnings Growth Over Last Five Years
Riverstone Holdings (SGX:AP4) Stock Performs Better Than Its Underlying Earnings Growth Over Last Five Years
When we invest, we're generally looking for stocks that outperform the market average. And the truth is, you can make significant gains if you buy good quality businesses at the right price. To wit, the Riverstone Holdings share price has climbed 99% in five years, easily topping the market decline of 21% (ignoring dividends). On the other hand, the more recent gains haven't been so impressive, with shareholders gaining just 85%, including dividends.
當我們進行投資時，通常正在尋找跑贏市場平均水平的股票。實際上，如果你在正確的價格下購買高質量的企業，可以獲得顯著的收益。例如，Riverstone Holdings的股價在五年內上漲了99％，遠高於市場下跌21％（不包括股息）。 但是，最近的漲幅並不那麼令人印象深刻，股東包括股息在內僅獲得了85％的收益。
On the back of a solid 7-day performance, let's check what role the company's fundamentals have played in driving long term shareholder returns.
在穩定的七天表現之後，讓我們看看公司的基本面對長期股東回報的影響。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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).
市場有時無疑是高效的，但價格並不總是反映基礎業務表現。 一種檢查市場情緒如何隨時間改變的方法是查看公司的股價與每股收益（EPS）之間的互動。
During the five years of share price growth, Riverstone Holdings moved from a loss to profitability. That would generally be considered a positive, so we'd hope to see the share price to rise.
在五年的股價上漲期間，Riverstone Holdings公司從虧損轉虧爲盈。這通常被認爲是一種積極因素，因此我們希望看到股價上漲。
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）。
It's probably worth noting that the CEO is paid less than the median at similar sized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. This free interactive report on Riverstone Holdings' earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
值得注意的是，這位首席執行官的薪酬低於類似規模公司的中位數。但是，雖然首席執行官的報酬始終值得檢查，但真正重要的問題是公司能否實現未來的盈利增長。如果您想進一步調查該股票，可以從以下免費互動報告中了解Riverstone Holdings的盈利，營業收入和現金流。
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 incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for Riverstone Holdings the TSR over the last 5 years was 229%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
在考慮投資回報時，重要的是考慮總股東回報（TSR）和股票回報之間的差異。 TSR包括任何剝離或折讓的資本籌集（基於股息被重新投資的假設），以及任何股息。因此，對於支付慷慨的股息公司而言，TSR通常比股票回報高得多。就中國神威藥業集團而言，其TSR在過去5年中達到了75％。這超過了我們之前提到的股票回報。該公司支付的股息已經提高了總股東回報。總股東回報和股票回報TSR包括任何分拆或折價的資本籌集價值，以及基於股息再投資的任何股息。因此，對於支付慷慨的股息的公司，TSR通常比股價回報高得多。我們注意到，Riverstone Holdings在過去的5年中TSR爲229％，這比上述股價回報更好。這主要是由於該公司支付股息所致！
A Different Perspective
不同的觀點
We're pleased to report that Riverstone Holdings shareholders have received a total shareholder return of 85% over one year. That's including the dividend. That's better than the annualised return of 27% over half a decade, implying that the company is doing better recently. 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. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for Riverstone Holdings you should know about.
我們很高興地報告，Riverstone Holdings的股東在一年內獲得了總體股東回報率爲85％，包括股息在內。這比半個十年的年化回報率27％要好，這意味着公司最近表現更好。在最理想的情況下，這可能暗示着一些真正的業務勢頭，這意味着現在可能是深入挖掘的好時機。雖然考慮市場狀況可能對股價產生不同的影響，但其他因素更重要。例如，考慮風險。每個公司都有，我們已經發現並提醒您Riverstone Holdings的1個風險警示。
Of course Riverstone Holdings may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
當然，Riverstone Holdings可能不是最好的投資股票。因此，您可能希望查看這些明星成長股的免費收藏。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Singaporean exchanges.
請注意，本文中引用的市場回報反映了當前在新加坡交易所上市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。