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The Five-year Underlying Earnings Growth at CNO Financial Group (NYSE:CNO) Is Promising, but the Shareholders Are Still in the Red Over That Time
The Five-year Underlying Earnings Growth at CNO Financial Group (NYSE:CNO) Is Promising, but the Shareholders Are Still in the Red Over That Time
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But in any portfolio, there will be mixed results between individual stocks. At this point some shareholders may be questioning their investment in CNO Financial Group, Inc. (NYSE:CNO), since the last five years saw the share price fall 23%. We also note that the stock has performed poorly over the last year, with the share price down 23%.
Since CNO Financial Group has shed US$121m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.
View our latest analysis for CNO Financial Group
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 flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
CNO Financial Group became profitable within the last five years. That would generally be considered a positive, so we are surprised to see the share price is down. Other metrics might give us a better handle on how its value is changing over time.
The revenue decline of 2.0% isn't too bad. But if the market expected durable top line growth, then that could explain the share price weakness.
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
NYSE:CNO Earnings and Revenue Growth September 25th 2022It is of course excellent to see how CNO Financial Group has grown profits over the years, but the future is more important for shareholders. You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.
What About Dividends?
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for CNO Financial Group the TSR over the last 5 years was -13%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
A Different Perspective
The total return of 21% received by CNO Financial Group shareholders over the last year isn't far from the market return of -22%. Unfortunately, last year's performance is a deterioration of an already poor long term track record, given the loss of 3% per year over the last five years. It will probably take a substantial improvement in the fundamental performance for the company to reverse this trend. 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. Even so, be aware that CNO Financial Group is showing 2 warning signs in our investment analysis , you should know about...
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.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.
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.
为了证明挑选个股的努力是合理的,值得努力超越市场指数基金的回报。但在任何投资组合中,个股之间的结果都会喜忧参半。在这一点上,一些股东可能会质疑他们在CNO金融集团,Inc.(纽约证券交易所股票代码:CNO),自过去五年以来,股价下跌了23%。我们还注意到,该股在过去一年表现不佳,股价下跌了23%。
由于CNO金融集团在过去7天里市值缩水1.21亿美元,让我们看看较长期的下跌是否受到了企业经济的推动。
查看我们对CNO金融集团的最新分析
虽然有效市场假说继续被一些人传授,但事实证明,市场是过度反应的动态系统,投资者并不总是理性的。评估围绕一家公司的情绪变化的一个有缺陷但合理的方法是将每股收益(EPS)与股价进行比较。
中海油金融集团在过去五年内实现了盈利。这通常会被认为是积极的,所以我们惊讶地看到股价下跌。其他指标可能会让我们更好地了解其价值是如何随着时间的推移而变化的。
营收下滑2.0%还不算太糟。但如果市场预期营收会持续增长,那么这可以解释股价疲软的原因。
该公司的收入和收益(随着时间的推移)如下图所示(点击查看具体数字)。
纽约证券交易所:CNO收益和收入增长2022年9月25日看到CNO金融集团多年来是如何实现利润增长的,当然很棒,但对股东来说,未来更重要。你可以看到它的资产负债表是如何随着时间的推移而加强(或削弱)的免费交互式图形。
那股息呢?
重要的是要考虑任何给定股票的总股东回报以及股价回报。TSR包括任何剥离或贴现融资的价值,以及任何股息,基于股息再投资的假设。可以说,TSR更全面地描绘了一只股票产生的回报。我们注意到,中海油金融集团过去5年的TSR为-13%,好于上述股价回报。该公司支付的股息因此提振了总计股东回报。
不同的视角
中海油金融集团股东过去一年的总回报率为21%,与-22%的市场回报率相距不远。不幸的是,考虑到过去五年每年3%的亏损,去年的业绩是对本已糟糕的长期记录的恶化。该公司可能需要基本面业绩的大幅改善才能扭转这一趋势。虽然值得考虑市场状况对股价可能产生的不同影响,但还有其他更重要的因素。即便如此,请注意,CNO金融集团正在展示我们的投资分析中的2个警告信号,你应该知道关于……
如果你更愿意看看另一家公司--一家财务状况可能更好的公司--那么不要错过这一点免费已证明自己能够实现盈利增长的公司名单。
请注意,本文引用的市场回报反映了目前在美国交易所交易的股票的市场加权平均回报。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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