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Investors in Enpro (NYSE:NPO) Have Seen Impressive Returns of 207% Over the Past Five Years

Investors in Enpro (NYSE:NPO) Have Seen Impressive Returns of 207% Over the Past Five Years

Enpro(紐交所:NPO)的投資者在過去五年中獲得了令人印象深刻的207%回報。
Simply Wall St ·  2024/12/07 21:14

The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But on the bright side, you can make far more than 100% on a really good stock. Long term Enpro Inc. (NYSE:NPO) shareholders would be well aware of this, since the stock is up 189% in five years. Also pleasing for shareholders was the 33% gain in the last three months. But this move may well have been assisted by the reasonably buoyant market (up 14% in 90 days).

購買一家公司的股票後,最糟糕的結果(假設沒有槓桿)就是失去你投入的所有資金。但好的一面是,如果是一隻真正好的股票,你可以賺得遠超過100%。長揸enpro公司的股東(紐交所:NPO)對此會非常清楚,因爲該股票在五年內上漲了189%。對於股東來說,過去三個月上漲了33%也讓人欣喜。然而,這一走勢可能受到了市場相對活躍的影響(在90天內上漲了14%)。

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。

While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. 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.

雖然一些人仍然相信有效市場假說,但已經證明市場是過度反應的動態系統,投資者並不總是理性的。一個不完美但簡單的方法來考慮公司市場看法的變化是比較每股收益(EPS)的變化和股價的波動。

During the five years of share price growth, Enpro moved from a loss to profitability. Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains. Since the company was unprofitable five years ago, but not three years ago, it's worth taking a look at the returns in the last three years, too. Indeed, the Enpro share price has gained 80% in three years. During the same period, EPS grew by 2.3% each year. Notably, the EPS growth has been slower than the annualised share price gain of 22% over three years. So one can reasonably conclude the market is more enthusiastic about the stock than it was three years ago.

在過去五年的股價增長中,enpro公司從虧損轉向盈利。有時,盈利的開始是一個主要的轉折點,可能會預示未來快速的收益增長,進而使股價獲得非常強勁的漲幅。由於該公司五年前處於虧損狀態,而三年前則不再虧損,因此值得關注過去三年的回報。實際上,enpro的股價在三年內上漲了80%。在同一時期,每股收益以每年2.3%的速度增長。值得注意的是,每股收益的增長速度慢於三年內22%的年化股價增長幅度。因此,可以合理地得出結論,市場對這隻股票的熱情超出了三年前。

The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).

下圖顯示了EPS隨時間的變化情況(如果您單擊該圖像,則可以查看更多詳細信息)。

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NYSE:NPO Earnings Per Share Growth December 7th 2024
紐交所:NPO 每股收益增長 2024年12月7日

We know that Enpro has improved its bottom line lately, but is it going to grow revenue? This free report showing analyst revenue forecasts should help you figure out if the EPS growth can be sustained.

我們知道enpro最近改善了盈利情況,但它的營業收入會增長嗎?這份免費的報告展示了分析師的營業收入預測,應該能幫助你判斷每股收益的增長是否能持續。

What About Dividends?

關於分紅派息的問題

It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. We note that for Enpro the TSR over the last 5 years was 207%, 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!

考慮總股東回報和股價回報對於任何給定的股票都很重要。股價回報僅僅反映了股價的變化,而總股東回報則包括了分紅的價值(假設進行再投資)以及任何折價融資或分拆的好處。因此,對於支付豐厚分紅的公司來說,總股東回報通常高於股價回報。我們注意到,enpro在過去五年的總股東回報爲207%,這比上述的股價回報要好。而且,衆所周知,分紅支付在很大程度上解釋了這種差異!

A Different Perspective

另一種看法

It's good to see that Enpro has rewarded shareholders with a total shareholder return of 44% in the last twelve months. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 25% 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. Before spending more time on Enpro it might be wise to click here to see if insiders have been buying or selling shares.

看到enpro在過去十二個月中給予股東44%的總股東回報真是好事。當然,這其中包括了分紅。由於一年的總股東回報高於五年的總股東回報(後者爲每年25%),這似乎表明該股票近期的表現有所改善。考慮到股價動量依然強勁,可能值得進一步關注這隻股票,以免錯過機會。在花更多時間關注enpro之前,查看一下內部人士是否有買入或賣出股票的情況也許是明智的選擇。

But note: Enpro 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:enpro可能不是最好的買入股票。因此請查看這個包含過去盈利增長(以及進一步增長預測)的有趣公司的免費列表。

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。

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.

對這篇文章有反饋嗎?對內容感到擔憂嗎?請直接與我們聯繫。或者,發送電子郵件至editorial-team @ simplywallst.com。
Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。

譯文內容由第三人軟體翻譯。


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