Affiliated Managers Group (NYSE:AMG) Shareholder Returns Have Been Splendid, Earning 117% in 5 Years
Affiliated Managers Group (NYSE:AMG) Shareholder Returns Have Been Splendid, Earning 117% in 5 Years
When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose your money. But when you pick a company that is really flourishing, you can make more than 100%. Long term Affiliated Managers Group, Inc. (NYSE:AMG) shareholders would be well aware of this, since the stock is up 115% in five years. It's also good to see the share price up 14% over the last quarter.
当您购买公司股票时,要记住可能会失败,失去投资。但是当您选择一家真正蓬勃发展的公司时,您可以获得超过100%的回报。长期持有Affiliated Managers Group, Inc.(纽交所: AMG)股票的股东会很清楚,因为该股已在五年内上涨了115%。过去一个季度也看到股价上涨了14%。
Since it's been a strong week for Affiliated Managers Group shareholders, let's have a look at trend of the longer term fundamentals.
由于Affiliated Managers Group股东本周表现强劲,让我们来看看长期基本面的趋势。
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. 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).
用本杰明·格雷厄姆的话来说:“短期市场是一台投票机,但长期市场是一台称重机”。检查市场情绪如何随时间推移变化的一种方式是查看公司股价和每股收益(EPS)之间的相互作用。
During the last half decade, Affiliated Managers Group became profitable. That kind of transition can be an inflection point that justifies a strong share price gain, just as we have seen here. 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. We can see that the Affiliated Managers Group share price is up 14% in the last three years. During the same period, EPS grew by 28% each year. This EPS growth is higher than the 4% average annual increase in the share price over the same three years. Therefore, it seems the market has moderated its expectations for growth, somewhat. This cautious sentiment is reflected in its (fairly low) P/E ratio of 8.32.
在过去的半个十年中,Affiliated Managers Group变得盈利。这种转变可以是一个拐点,能够证明股价的强劲增长,就像我们在这里看到的一样。由于公司在五年前亏损,而三年前不再亏损,值得看看过去三年的回报。我们可以看到Affiliated Managers Group股价在过去三年上涨了14%。在同一期间,每年EPS增长了28%。这种EPS增长高于同一三年内股价平均每年增长4%。因此,市场似乎已经对增长降低了预期。这种谨慎情绪体现在其(相当低的)市盈率8.32中。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
下面可以看到每股收益随时间的变化情况(通过点击图像来查看确切数值)。
Dive deeper into Affiliated Managers Group's key metrics by checking this interactive graph of Affiliated Managers Group's earnings, revenue and cash flow.
通过检查这个互动图表,更深入了解关联管理集团的关键指标,包括关联管理集团的收益、营业收入和现金流。
A Different Perspective
不同的观点
Affiliated Managers Group shareholders have received returns of 35% over twelve months (even including dividends), which isn't far from the general market return. That gain looks pretty satisfying, and it is even better than the five-year TSR of 17% per year. Even if the share price growth slows down from here, there's a good chance that this is business worth watching in the long term. 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 for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Affiliated Managers Group (at least 1 which is a bit unpleasant) , and understanding them should be part of your investment process.
在过去的12个月中,关联管理集团股东获得了35%的回报(包括分红),这与一般市场回报相差不远。这种增长看起来非常令人满意,甚至优于每年17%的五年总股息回报率。即使股价增长从此减缓,这家企业在长期内值得关注的可能性很大。虽然值得考虑市场条件对股价的影响,但还有其他更重要的因素。例如,投资风险这个始终存在的威胁。我们已经确定了关联管理集团的两个警示标志(至少有一个有点令人不快),了解它们应该成为您投资过程的一部分。
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).
如果您喜欢与管理层一起购买股票,那么您可能会喜欢这个公司的免费列表。 (提示:其中许多公司不为人注意且具有吸引力的估值。)
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,本文所引述的市场回报反映了目前在美国交易所上市的股票的市场加权平均回报。
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