Evercore (NYSE:EVR) Investors Are up 6.8% in the Past Week, but Earnings Have Declined Over the Last Five Years
Evercore (NYSE:EVR) Investors Are up 6.8% in the Past Week, but Earnings Have Declined Over the Last Five Years
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%. For instance, the price of Evercore Inc. (NYSE:EVR) stock is up an impressive 137% over the last five years. Meanwhile the share price is 6.8% higher than it was a week ago.
當你購買一家公司的股票時，值得記住它可能倒閉的可能性，你可能會賠錢。但好的一面是，如果你以合適的價格購買一家高質量公司的股票，你可以獲得超過100％的收益。例如，Evercore Inc.（紐約證券交易所代碼：EVR）的股票價格在過去五年中上漲了令人印象深刻的137％。同時，股價比一週前上漲了6.8％。
Since the stock has added US$520m to its market cap in the past week alone, let's see if underlying performance has been driving long-term returns.
由於該股僅在過去一週的市值就增加了5.2億美元，因此讓我們看看基礎表現是否推動了長期回報。
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
用本傑明·格雷厄姆的話來說：從短期來看，市場是一臺投票機器，但從長遠來看，它是一臺稱重機。考慮市場對公司的看法發生了怎樣的變化的一種不完美但簡單的方法是將每股收益（EPS）的變化與股價走勢進行比較。
During five years of share price growth, Evercore actually saw its EPS drop 4.9% per year.
在五年的股價增長中，Evercore的每股收益實際上每年下降4.9％。
So it's hard to argue that the earnings per share are the best metric to judge the company, as it may not be optimized for profits at this point. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.
因此，很難說每股收益是評判公司的最佳指標，因爲目前每股收益可能還沒有針對利潤進行優化。由於每股收益的變化似乎與股價的變化無關，因此值得一看其他指標。
The modest 1.5% dividend yield is unlikely to be propping up the share price. On the other hand, Evercore's revenue is growing nicely, at a compound rate of 6.2% over the last five years. It's quite possible that management are prioritizing revenue growth over EPS growth at the moment.
1.5％的適度股息收益率不太可能支撐股價。另一方面，Evercore的收入增長良好，在過去五年中複合增長率爲6.2％。目前，管理層很有可能將收入增長置於每股收益增長之上。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
公司的收入和收益（隨着時間的推移）如下圖所示（點擊查看確切數字）。
Balance sheet strength is crucial. It might be well worthwhile taking a look at our free report on how its financial position has changed over time.
資產負債表的強度至關重要。可能值得一看我們關於其財務狀況如何隨着時間的推移而變化的免費報告。
What About Dividends?
分紅呢？
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Evercore's TSR for the last 5 years was 169%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.
在考慮投資回報時，重要的是要考慮兩者之間的區別 股東總回報 (TSR) 和 股價回報。儘管股價回報率僅反映股價的變化，但股東總回報率包括股息的價值（假設已進行再投資）以及任何折扣融資或分拆的收益。因此，對於支付豐厚股息的公司來說，股東總回報率通常遠高於股價回報率。碰巧的是，Evercore在過去5年的股東總回報率爲169％，超過了前面提到的股價回報率。因此，該公司支付的股息提高了 總 股東回報。
A Different Perspective
不同的視角
We're pleased to report that Evercore shareholders have received a total shareholder return of 82% over one year. That's including the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 22% per year), it would seem that the stock's performance has improved in recent times. 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. Consider risks, for instance. Every company has them, and we've spotted 2 warning signs for Evercore you should know about.
我們很高興地向大家報告，Evercore的股東在一年內獲得了82％的總股東回報率。這包括股息。由於一年期股東總回報率好於五年期股東總回報率（後者爲每年22％），因此該股的表現似乎在最近有所改善。鑑於股價勢頭仍然強勁，可能值得仔細研究該股，以免錯過機會。儘管市場狀況可能對股價產生的不同影響值得考慮，但還有其他因素更爲重要。例如，考慮風險。每家公司都有它們，我們發現了兩個你應該知道的Evercore警告信號。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
當然，通過尋找其他地方，你可能會找到一筆不錯的投資。因此，請看一下我們預計收益將增加的這份免費公司名單。
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，本文引用的市場回報反映了目前在美國交易所交易的股票的市場加權平均回報。
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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.
對這篇文章有反饋嗎？對內容感到擔憂？直接聯繫我們。 或者，給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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譯文內容由第三人軟體翻譯。