While Shareholders of Spectrum Brands Holdings (NYSE:SPB) Are in the Black Over 5 Years, Those Who Bought a Week Ago Aren't so Fortunate
While Shareholders of Spectrum Brands Holdings (NYSE:SPB) Are in the Black Over 5 Years, Those Who Bought a Week Ago Aren't so Fortunate
If you buy and hold a stock for many years, you'd hope to be making a profit. Furthermore, you'd generally like to see the share price rise faster than the market. But Spectrum Brands Holdings, Inc. (NYSE:SPB) has fallen short of that second goal, with a share price rise of 48% over five years, which is below the market return. On a brighter note, more newer shareholders are probably rather content with the 26% share price gain over twelve months.
如果你买入并持有股票多年，你希望获利。此外，您通常希望看到股价的上涨速度快于市场。但是Spectrum Brands Holdings, Inc.（纽约证券交易所代码：SPB）尚未实现第二个目标，股价在五年内上涨了48％，低于市场回报率。好消息是，更多的新股东可能对十二个月内26％的股价涨幅感到满意。
While the stock has fallen 6.8% this week, it's worth focusing on the longer term and seeing if the stocks historical returns have been driven by the underlying fundamentals.
尽管该股本周下跌了6.8％，但值得关注长期情况，看看股票的历史回报是否是由基础基本面推动的。
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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).
在他的文章中 格雷厄姆和多兹维尔的超级投资者 沃伦·巴菲特描述了股价如何并不总是合理地反映企业的价值。研究市场情绪如何随着时间的推移而变化的一种方法是研究公司股价与其每股收益（EPS）之间的相互作用。
Spectrum Brands Holdings has made a profit in the past. However, it made a loss in the last twelve months, suggesting profit may be an unreliable metric at this stage. So we might find other metrics can better explain the share price movements.
Spectrum Brands Holdings过去曾盈利。但是，它在过去十二个月中出现了亏损，这表明现阶段的利润可能是一个不可靠的指标。因此，我们可能会发现其他指标可以更好地解释股价走势。
It is not great to see that revenue has dropped by 4.5% per year over five years. It certainly surprises us that the share price is up, but perhaps a closer examination of the data will yield answers.
看到收入在五年内每年下降4.5％，这并不令人满意。股价上涨无疑使我们感到惊讶，但也许仔细研究数据会得出答案。
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
下图描述了收入和收入随时间推移而发生的变化（点击图片即可显示确切的数值）。
It's good to see that there was some significant insider buying in the last three months. That's a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. So we recommend checking out this free report showing consensus forecasts
很高兴看到在过去三个月中出现了一些大规模的内幕买盘。这是积极的。另一方面，我们认为收入和收益趋势是衡量业务的更有意义的指标。因此，我们建议您查看这份显示共识预测的免费报告
What About Dividends?
分红呢？
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Spectrum Brands Holdings the TSR over the last 5 years was 67%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
重要的是要考虑任何给定股票的股东总回报率和股价回报率。尽管股价回报率仅反映股价的变化，但股东总回报率包括股息的价值（假设已进行再投资）以及任何折扣融资或分拆的收益。可以说，股东总回报率更全面地描述了股票产生的回报。我们注意到，Spectrum Brands Holdings在过去5年的股东总回报率为67％，好于上述股价回报率。因此，该公司支付的股息提高了 总 股东回报。
A Different Perspective
不同的视角
We're pleased to report that Spectrum Brands Holdings shareholders have received a total shareholder return of 28% over one year. Of course, that includes the dividend. That gain is better than the annual TSR over five years, which is 11%. Therefore it seems like sentiment around the company has been positive lately. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. 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 Spectrum Brands Holdings is showing 1 warning sign in our investment analysis , you should know about...
我们很高兴地向大家报告，Spectrum Brands Holdings的股东在一年内获得了28％的总股东回报率。当然，这包括股息。这一增幅好于五年内的年度股东总回报率，即11％。因此，最近公司周围的情绪似乎一直很乐观。鉴于股价势头仍然强劲，可能值得仔细研究该股，以免错过机会。我发现将长期股价视为业务绩效的代表非常有趣。但是，要真正获得见解，我们还需要考虑其他信息。即便如此，请注意，Spectrum Brands Holdings在我们的投资分析中显示了1个警告信号，你应该知道...
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).
如果你想与管理层一起购买股票，那么你可能会喜欢这份免费的公司名单。（提示：业内人士一直在购买它们）。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
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。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论，我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议，也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意，我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之，华尔街没有持有任何上述股票的头寸。