Investing in AAR (NYSE:AIR) Three Years Ago Would Have Delivered You a 69% Gain
Investing in AAR (NYSE:AIR) Three Years Ago Would Have Delivered You a 69% Gain
By buying an index fund, investors can approximate the average market return. But if you choose individual stocks with prowess, you can make superior returns. For example, the AAR Corp. (NYSE:AIR) share price is up 69% in the last three years, clearly besting the market return of around 14% (not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 5.2% in the last year.
通過購買指數基金,投資者可以接近平均市場回報。但是,如果您選擇個別股票並具有實力,您可以獲得更高的回報。例如,AAR Corp.(紐交所:AIR)的股價在過去三年中上漲了69%,明顯超過了約14%的市場回報(不包括股息)。然而,最近的回報並不像那樣令人印象深刻,該股僅在過去一年中回報了5.2%。
So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress.
那麼,讓我們調查一下並查看公司的長期表現是否符合基本業務的進展。
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。
During the three years of share price growth, AAR actually saw its earnings per share (EPS) drop 3.4% per year.
在股價增長的三年裏,AAR實際上看到其每股收益(EPS)每年下降3.4%。
Based on these numbers, we think that the decline in earnings per share may not be a good representation of how the business has changed over the years. Therefore, it makes sense to look into other metrics.
根據這些數字,我們認爲每股收益下降可能不是業務多年來發生變化的良好代表。因此,有必要查看其他指標。
It could be that the revenue growth of 12% per year is viewed as evidence that AAR is growing. If the company is being managed for the long term good, today's shareholders might be right to hold on.
營業收入每年增長12%可能被視爲AAR正在增長的證據。如果公司正在爲長期利益而管理,今天的股東可能會明智地選擇持有。
The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).
下圖顯示了收益和營收隨時間變化的情況(如果你點擊圖像,可以看到更多細節):
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.
資產負債表強度至關重要。查看我們關於其財務狀況如何隨時間變化的免費報告可能很值得一看。
A Different Perspective
不同的觀點
AAR shareholders gained a total return of 5.2% during the year. Unfortunately this falls short of the market return. On the bright side, the longer term returns (running at about 7% a year, over half a decade) look better. It's quite possible the business continues to execute with prowess, even as the share price gains are slowing. It's always interesting to track share price performance over the longer term. But to understand AAR better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with AAR (at least 1 which is concerning) , and understanding them should be part of your investment process.
AAR股東在本年度獲得了總回報率達5.2%。不幸的是,這低於市場回報。好消息是,長期回報(每年約爲7%,持續半個世紀以上)看起來更好。公司仍可能繼續出色運營,即使股價漲幅在放緩。跟蹤股價在較長時期內的表現總是很有趣。但要更好地理解AAR,我們需要考慮許多其他因素。例如,要考慮投資風險的長期存在。我們已經發現了AAR的2個警示標誌(至少1個令人擔憂),了解它們應該是您投資過程的一部分。
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,您可能在其他地方找到一家出色的企業進行投資。因此,請查看我們預計將實現盈利增長的公司的免費列表。
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。
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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。