Those Who Invested in Avery Dennison (NYSE:AVY) Five Years Ago Are up 123%
Those Who Invested in Avery Dennison (NYSE:AVY) Five Years Ago Are up 123%
When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose your money. But on the bright side, if you buy shares in a high quality company at the right price, you can gain well over 100%. One great example is Avery Dennison Corporation (NYSE:AVY) which saw its share price drive 106% higher over five years.
當您購買公司股份時，有可能公司會倒閉導致您損失資金，但是好的方面是，如果您在正確的價格下購買優質公司的股份，您可以獲得超過100%的收益。一個很好的例子是艾利丹尼森公司（紐交所：AVY），股價在過去五年間上漲了106%。
Let's take a look at the underlying fundamentals over the longer term, and see if they've been consistent with shareholders returns.
讓我們長期看一下潛在的基本面，看看它們是否與股東回報一致。
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
儘管市場是一個強大的定價機制，股價不僅反映了基本業務表現，還反映了投資者的情緒。通過比較每股收益（EPS）和股價變化，並隨時間推移這樣做，我們可以了解股東對公司的態度如何隨時間變化。
During five years of share price growth, Avery Dennison achieved compound earnings per share (EPS) growth of 25% per year. The EPS growth is more impressive than the yearly share price gain of 16% over the same period. So one could conclude that the broader market has become more cautious towards the stock.
在股價增長的五年裏，艾利丹尼森公司實現了每股收益的複合增長率爲25%。每年的EPS增長比同期的股價上漲16%更爲驚豔。因此，可以得出這樣的結論，也許市場變得更加謹慎，針對該股票。
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. It might be well worthwhile taking a look at our free report on Avery Dennison's earnings, revenue and cash flow.
值得注意的是，該公司CEO的薪酬低於同等規模公司的中位數。但是，雖然總是值得檢查CEO的報酬，但真正重要的問題是公司是否能夠增加收益。在這方面，查看我們關於艾利丹尼森公司的盈利、收入和現金流的免費報告是很值得的。
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Avery Dennison the TSR over the last 5 years was 123%, 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是一個考慮了現金股息價值（假設收到的任何股息都被再投資）和任何折扣資本募集和剝離計算的回報率計算。可以說，TSR提供了更全面的股票回報圖像。我們注意到，艾利丹尼森公司在過去5年間的TSR爲123%，高於上述股價回報。這主要是由於其紅利支付所致！
A Different Perspective
不同的觀點
It's good to see that Avery Dennison has rewarded shareholders with a total shareholder return of 36% in the last twelve months. Of course, that includes the dividend. That gain is better than the annual TSR over five years, which is 17%. Therefore it seems like sentiment around the company has been positive lately. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Take risks, for example - Avery Dennison has 2 warning signs we think you should be aware of.
很好地看到，艾利丹尼森公司在過去十二個月內通過總股東回報爲股東回報了36%。當然，這包括股息。這一增益比5年的年度TSR（17%）更好，因此最近環繞該公司的情緒似乎是積極的。考慮到股價勢頭依然強勁，這可能值得仔細觀察該股，不要錯過機會。我非常感興趣地從長期股價作爲業務績效代理開始。但要真正獲得洞察力，我們還需要考慮其他信息。例如，承擔風險 - 艾利丹尼森公司有2個警告信號，我們認爲您應該知道。
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
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。