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ResMed (NYSE:RMD) Shareholders Have Earned a 14% CAGR Over the Last Five Years

ResMed (NYSE:RMD) Shareholders Have Earned a 14% CAGR Over the Last Five Years

瑞思邁(紐交所:RMD)股東在過去五年中獲得了14%的年複合增長率。
Simply Wall St ·  09/22 20:55

If you buy and hold a stock for many years, you'd hope to be making a profit. Better yet, you'd like to see the share price move up more than the market average. But ResMed Inc. (NYSE:RMD) has fallen short of that second goal, with a share price rise of 83% over five years, which is below the market return. On a brighter note, more newer shareholders are probably rather content with the 79% share price gain over twelve months.

如果你買入並持有股票多年,希望能夠獲得盈利。更好的是,希望股價上漲超過市場平均水平。但瑞思邁(紐交所:RMD)未能達到這第二個目標,股價在五年內上漲了83%,低於市場回報。但值得慶幸的是,新一批股東可能對過去12個月股價上漲了79%感到滿意。

With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.

鑑於此,值得看看該公司的基本面是否一直是長期業績的驅動因素,或者是否存在一些不一致之處。

There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.

不可否認的是,市場有時是高效的,但價格並不總是反映潛在的商業表現。一個不完美但簡單的方法來考慮公司市場感知如何改變是比較每股收益(EPS)變化和股價變動。

Over half a decade, ResMed managed to grow its earnings per share at 20% a year. This EPS growth is higher than the 13% average annual increase in the share price. So one could conclude that the broader market has become more cautious towards the stock.

在過去五年中,瑞思邁每股收益增長了20%。這一增長率高於股價的13%年均增幅。因此可以得出結論,整體市場對該股更加謹慎。

The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).

該公司的每股收益(隨時間的推移)如下圖所示(單擊可查看確切數字)。

big
NYSE:RMD Earnings Per Share Growth September 22nd 2024
紐交所:瑞思邁每股收益增長2024年9月22日

We know that ResMed has improved its bottom line lately, but is it going to grow revenue? You could check out this free report showing analyst revenue forecasts.

我們知道瑞思邁最近在改善其淨利潤,但它的營業收入將會增長嗎?您可以查看該免費的報告,其中包含分析師營收預測。

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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of ResMed, it has a TSR of 91% 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!

對於任何給定的股票,考慮總股東回報率和股價回報率都非常重要。TSR是一個回報計算方法,它考慮了現金分紅的價值(假設任何收到的股息都被再投資)以及任何折現融資和分拆的計算值。因此,對於付出豐厚股息的公司而言,TSR往往要高於股價回報率。以瑞思邁爲例,過去5年的TSR達到了91%。這超過了我們之前提到的股價回報率。毫無疑問,分紅派息在很大程度上解釋了這種差異!

A Different Perspective

不同的觀點

We're pleased to report that ResMed shareholders have received a total shareholder return of 81% over one year. And that does include the dividend. That's better than the annualised return of 14% over half a decade, implying that the company is doing better recently. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. 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. Even so, be aware that ResMed is showing 1 warning sign in our investment analysis , you should know about...

我們很高興地報道,瑞思邁股東在過去一年內獲得了81%的總股東回報率。這也包括了股息。與此相比,過去半個世紀的年化回報率爲14%,這意味着公司近期表現較好。樂觀的角度可以認爲,近期TSR的改善表明企業本身隨着時間的推移正在變得更好。從長期來看,我認爲股價可以作爲業績的一個代理。但要真正獲得洞察,我們還需要考慮其他信息。即使如此,請注意,我們的投資分析中瑞思邁顯示了1個警告信號,您應該了解一下...

If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.

如果您願意查看另一家公司(具有潛在的更好財務狀況),請不要錯過這個免費的公司列表,證明它們可以增長收益。

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.

對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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。

譯文內容由第三人軟體翻譯。


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