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277% Earnings Growth Over 1 Year Has Not Materialized Into Gains for Molson Coors Beverage (NYSE:TAP) Shareholders Over That Period

277% Earnings Growth Over 1 Year Has Not Materialized Into Gains for Molson Coors Beverage (NYSE:TAP) Shareholders Over That Period

277%的盈利增長在這一年並沒有爲莫庫酒業(紐交所:TAP)的股東帶來收益。
Simply Wall St ·  01/14 11:46

The simplest way to benefit from a rising market is to buy an index fund. Active investors aim to buy stocks that vastly outperform the market - but in the process, they risk under-performance. Unfortunately the Molson Coors Beverage Company (NYSE:TAP) share price slid 15% over twelve months. That's disappointing when you consider the market returned 23%. The silver lining (for longer term investors) is that the stock is still 4.1% higher than it was three years ago. Unfortunately the share price momentum is still quite negative, with prices down 12% in thirty days.

從上升的市場中獲益的最簡單方法是購買指數基金。積極的投資者旨在購買遠遠超出市場表現的股票,但在此過程中,他們面臨業績不佳的風險。不幸的是,莫庫酒業(紐交所:TAP)的股價在十二個月內下滑了15%。考慮到市場回報了23%,這令人失望。對於長期投資者來說,值得欣慰的是,該股票的價格仍比三年前高出4.1%。不幸的是,股價的動量依然相當消極,三十天內價格下跌了12%。

Given the past week has been tough on shareholders, let's investigate the fundamentals and see what we can learn.

鑑於過去一週對股東來說很艱難,讓我們調查一下基本面,看看我們能學到什麼。

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

雖然市場是一種強大的定價機制,但股價反映的是投資者情緒,而不僅僅是基礎業務表現。查看公司股價與每股收益(EPS)之間的互動,可以檢視市場情緒是如何隨時間而變化的。

Even though the Molson Coors Beverage share price is down over the year, its EPS actually improved. It could be that the share price was previously over-hyped.

儘管莫庫酒業的股價在一年內下跌,但其每股收益實際上有所改善。這可能是因爲股價之前被過度炒作。

It's fair to say that the share price does not seem to be reflecting the EPS growth. But we might find some different metrics explain the share price movements better.

可以公平地說,股價似乎沒有反映每股收益的增長。但我們可能會發現一些不同的指標更好地解釋股價的波動。

Revenue was fairly steady year on year, which isn't usually such a bad thing. But the share price might be lower because the market expected a meaningful improvement, and got none.

營業收入年比年相對穩定,這通常並不是壞事。但股價可能會由於市場預期有顯著改善而沒有實現,導致股價下跌。

You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).

您可以在下面的圖像中查看收益和營業收入隨時間的變化(點擊圖表查看確切值)。

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NYSE:TAP Earnings and Revenue Growth January 14th 2025
紐交所:TAP 每股收益和營業收入增長 2025年1月14日

Molson Coors Beverage is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth. If you are thinking of buying or selling Molson Coors Beverage stock, you should check out this free report showing analyst consensus estimates for future profits.

莫庫酒業是一隻知名股票,有不少分析師的關注,表明未來增長具備一定的可見性。如果你考慮買入或賣出莫庫酒業的股票,應該查閱這份免費報告,其中展示了分析師對未來盈利的共識預期。

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. 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 Molson Coors Beverage, it has a TSR of -12% for the last 1 year. 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!

在考慮任何給定股票時,重要的是要考慮總股東回報以及股價回報。TSR包含任何分拆或折扣資本募集的價值,以及任何分紅,基於假設這些分紅被再投資。因此,對於支付豐厚分紅的公司,TSR通常遠高於股價回報。以莫庫酒業爲例,其過去1年的TSR爲-12%。這超過了我們之前提到的股價回報。而且,毫無疑問,分紅支付在很大程度上解釋了這種差異!

A Different Perspective

不同的視角

While the broader market gained around 23% in the last year, Molson Coors Beverage shareholders lost 12% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Longer term investors wouldn't be so upset, since they would have made 1.3%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. 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 1 warning sign for Molson Coors Beverage you should know about.

儘管整體市場在過去一年中上漲了約23%,但莫庫酒業的股東卻損失了12%(即使包括分紅派息)。即便是優質股票的股價有時也會下跌,但我們希望在關注之前看到企業的基本面指標有所改善。長線投資者可能不會太沮喪,因爲他們在五年內每年會賺取1.3%。如果基本數據持續表明長期可持續增長,目前的拋售可能是一個值得考慮的機會。雖然考慮市場狀況對股價的不同影響是非常重要的,但還有其他更重要的因素。例如,考慮風險。每家公司都有風險,我們發現了一個關於莫庫酒業的警示信號,你應該知道。

If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: many of them are unnoticed AND have attractive valuation).

如果你喜歡與管理層一起買入股票,那麼你可能會喜歡這個免費的公司名單。(提示:很多公司鮮爲人知,而且估值吸引。)

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,本文中引用的市場回報反映了當前在美國交易所上市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?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。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在提到的任何股票中均沒有持倉。

譯文內容由第三人軟體翻譯。


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