Jabil (NYSE:JBL) Sheds 5.3% This Week, as Yearly Returns Fall More in Line With Earnings Growth
Jabil (NYSE:JBL) Sheds 5.3% This Week, as Yearly Returns Fall More in Line With Earnings Growth
It hasn't been the best quarter for Jabil Inc. (NYSE:JBL) shareholders, since the share price has fallen 14% in that time. But in stark contrast, the returns over the last half decade have impressed. Indeed, the share price is up an impressive 258% in that time. To some, the recent pullback wouldn't be surprising after such a fast rise. Of course, that doesn't necessarily mean it's cheap now.
對Jabil Inc.（紐交所：JBL）股東來說，這並不是最好的一季度，因爲股價在此期間下跌了14％。但相比之下，過去五年的回報令人印象深刻。事實上，股價在此期間上漲了258％。對於一些人來說，最近的回落並不令人驚訝，因爲上漲得太快。當然，這並不意味着現在便宜。
In light of the stock dropping 5.3% in the past week, we want to investigate the longer term story, and see if fundamentals have been the driver of the company's positive five-year return.
鑑於該股上週下跌了5.3％，我們想調查更長期的情況，看看基本面是否是公司五年回報的驅動力。
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
引用巴菲特的話說，“船隻會在世界各地航行，但是持平地球學會會蓬勃發展。在市場上，價格和價值之間將繼續存在巨大的差距……”評估公司周圍情緒變化的一種有缺陷但合理的方法是將每股收益（EPS）與股價進行比較。
Over half a decade, Jabil managed to grow its earnings per share at 60% a year. This EPS growth is higher than the 29% average annual increase in the share price. So one could conclude that the broader market has become more cautious towards the stock. The reasonably low P/E ratio of 9.72 also suggests market apprehension.
在過去的五年中，Jabil成功將每股收益增長60％。這種每股收益的增長高於股價29％的年均增長率。因此，人們可以得出結論，整個市場對該股變得更加謹慎。合理的市盈率9.72也表明市場的擔憂。
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）。
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. This free interactive report on Jabil's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
我們很高興報告說，與同等規模的公司的大多數CEO相比，Jabil的CEO報酬更加適中。關注CEO的報酬總是很值得的，但更重要的問題是公司能否在未來增加收益。如果您想進一步調查股票，Jabil的收益，營業收入和現金流的免費互動報告是一個很好的開始。
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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for Jabil the TSR over the last 5 years was 269%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!
對於任何給定的股票，考慮總股東回報率以及股價回報率非常重要。 TSR是一個回報計算，它考慮了現金股利的價值（假設任何收到的股息都被再投資）以及任何折扣資本籌集和分拆的計算價值。可以說，TSR爲支付股息的股票提供了更完整的圖片。我們注意到，在過去的五年中，Jabil的TSR達到了269％，這比上述股價回報更好。沒有什麼獎勵可以猜測股息支付主要解釋了這種差異！
A Different Perspective
不同的觀點
Jabil shareholders are up 10% for the year (even including dividends). But that was short of the market average. 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 30% over five years. Maybe the share price is just taking a breather while the business executes on its growth strategy. It's always interesting to track share price performance over the longer term. But to understand Jabil better, we need to consider many other factors. Take risks, for example - Jabil has 3 warning signs (and 1 which doesn't sit too well with us) we think you should know about.
Jabil的股東今年收益率爲10％（包括股息）。但是，這低於市場平均水平。公司擁有更好的長期業績記錄可能是個好跡象，其爲股東在過去五年中提供了30％的年度TSR。也許股價只是在營執行其增長戰略期間休息一下。跟蹤較長期的股價表現總是很有趣的。但要更好地了解Jabil，我們需要考慮許多其他因素。例如承擔風險 - 我們認爲，Jabil存在3個警示信號（以及1個我們不太滿意的信號）需要您了解。
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。