KLA's (NASDAQ:KLAC) Investors Will Be Pleased With Their Incredible 649% Return Over the Last Five Years
KLA's (NASDAQ:KLAC) Investors Will Be Pleased With Their Incredible 649% Return Over the Last Five Years
For many, the main point of investing in the stock market is to achieve spectacular returns. And highest quality companies can see their share prices grow by huge amounts. For example, the KLA Corporation (NASDAQ:KLAC) share price is up a whopping 599% in the last half decade, a handsome return for long term holders. If that doesn't get you thinking about long term investing, we don't know what will. It's also good to see the share price up 16% over the last quarter. We love happy stories like this one. The company should be really proud of that performance!
對於許多人來說，投資股市的主要目的是獲得驚人的回報。最高質量的公司股價可能會大幅增長。例如，KLA公司(NASDAQ:KLAC)的股價在過去的半個十年中飆升了驚人的599％，對於長揸者來說是一個可觀的回報。如果這樣的表現不能讓您考慮長期投資，那麼我們不知道什麼才能。同時，過去一個季度股價上漲了16％，這也是好事一件。我們喜歡這樣的成功故事。該公司應該爲這樣的表現感到自豪！
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。
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. 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.
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·巴菲特描述了股票價格並不總是理性反映企業價值的情況。通過比較每股收益（EPS）和股價隨時間的變化，我們可以了解投資者對公司的態度如何隨着時間而變化。
During five years of share price growth, KLA achieved compound earnings per share (EPS) growth of 18% per year. This EPS growth is lower than the 48% average annual increase in the share price. This suggests that market participants hold the company in higher regard, these days. And that's hardly shocking given the track record of growth.
在五年的股價增長中，KLA實現了18％的每股收益複合增長率（EPS）。這一EPS增長率低於股價的平均年增長率48％。這表明現在市場參與者更高地認可公司，這一點並不令人驚訝，考慮到其增長記錄。
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）。
Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.
在購買或出售股票之前，我們始終建議仔細研究歷史增長趨勢，此處提供。
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 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. In the case of KLA, it has a TSR of 649% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
考慮到任何股票的總股東回報以及股價回報都很重要。TSR將股息再投資的假設價值與任何分拆或折扣資本籌集價值以及任何股息相結合。因此，對於那些支付豐厚股息的公司，TSR往往比股價回報高得多。在KLA的情況下，它在過去5年中的TSR爲649％。這超過了我們之前提到的股價回報。毫無疑問，紅利支付在很大程度上解釋了這種差異！
A Different Perspective
不同的觀點
It's nice to see that KLA shareholders have received a total shareholder return of 72% over the last year. That's including the dividend. That gain is better than the annual TSR over five years, which is 50%. 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. It's always interesting to track share price performance over the longer term. But to understand KLA better, we need to consider many other factors. For instance, we've identified 1 warning sign for KLA that you should be aware of.
很高興看到KLA股東在過去一年中獲得了72％的總股東回報。其中包括紅利。這一增長超過了過去五年的年度TSR（50％）。因此，公司周圍的情緒似乎最近一直是積極的。考慮到股價動能仍然強勁，更值得密切關注該股，以免錯失機會。長期跟蹤股價表現總是很有趣的。但是，要更好地了解KLA，我們需要考慮許多其他因素。例如，我們發現KLA有1個警告信號需要提醒您。
But note: KLA may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
但請注意：KLA可能不是最好的投資股票。因此，請查看這個免費的有過去盈利增長（和進一步增長預測）的有趣公司列表。
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。