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First American Financial's (NYSE:FAF) Investors Will Be Pleased With Their 20% Return Over the Last Year

First American Financial's (NYSE:FAF) Investors Will Be Pleased With Their 20% Return Over the Last Year

First American Financial(紐約證券交易所代碼:FAF)的投資者將對去年20%的回報率感到滿意
Simply Wall St ·  2023/10/16 07:02

First American Financial Corporation (NYSE:FAF) shareholders have seen the share price descend 12% over the month. Taking a longer term view we see the stock is up over one year. However, its return of 16% does fall short of the market return of, 21%.

第一美國金融公司(紐約證券交易所股票代碼:FAF)股東們看到股價在一個月內下跌了12%。從更長期的角度來看,我們看到該股上漲了一年多。然而,其16%的回報率確實低於21%的市場回報率。

Let's take a look at the underlying fundamentals over the longer term, and see if they've been consistent with shareholders returns.

讓我們來看看較長期的基本基本面,看看它們是否與股東回報一致。

View our latest analysis for First American Financial

查看我們對First American Financial的最新分析

There is no denying that markets are sometimes efficient, but prices do not always reflect 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).

不可否認,市場有時是有效的,但價格並不總是反映潛在的商業表現。考察市場情緒如何隨時間變化的一種方法是觀察一家公司的股價和每股收益(EPS)之間的相互作用。

During the last year, First American Financial actually saw its earnings per share drop 72%.

去年,First American Financial的每股收益實際上下降了72%。

Given the share price gain, we doubt the market is measuring progress with EPS. Indeed, when EPS is declining but the share price is up, it often means the market is considering other factors.

考慮到股價的上漲,我們懷疑市場是否在衡量每股收益的進展。事實上,當每股收益下降而股價上漲時,這通常意味著市場在考慮其他因素。

We note that the most recent dividend payment is higher than the payment a year ago, so that may have assisted the share price. It could be that the company is reaching maturity and dividend investors are buying for the yield, pushing the price up in the process.

我們注意到,最近的股息支付高於一年前的支付,因此這可能對股價起到了提振作用。可能是該公司即將到期,股息投資者正在為收益率買入,在此過程中推高了價格。

The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).

下圖顯示了收益和收入隨時間的變化情況(如果您點擊該圖,您可以看到更多詳細資訊)。

earnings-and-revenue-growth
NYSE:FAF Earnings and Revenue Growth October 16th 2023
紐約證券交易所:FAF收益和收入增長2023年10月16日

You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.

你可以看到它的資產負債表是如何隨著時間的推移而加強(或削弱)的免費互動式圖形。

What About Dividends?

那股息呢?

As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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 First American Financial the TSR over the last 1 year was 20%, 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!

除了衡量股價回報外,投資者還應考慮總股東回報(TSR)。TSR包括任何剝離或貼現融資的價值,以及任何股息,基於股息再投資的假設。可以說,TSR更全面地描繪了一隻股票產生的回報。我們注意到First American Financial在過去一年的TSR為20%,這比上面提到的股價回報要好。而且,猜測股息支付在很大程度上解釋了這種差異是沒有好處的!

A Different Perspective

不同的視角

First American Financial's TSR for the year was broadly in line with the market average, at 20%. Most would be happy with a gain, and it helps that the year's return is actually better than the average return over five years, which was 6%. 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. 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. Case in point: We've spotted 2 warning signs for First American Financial you should be aware of.

First American Financial今年的TSR與市場平均水準大體一致,為20%。大多數人會對收益感到高興,而且今年的回報率實際上好於過去五年6%的平均回報率,這是有幫助的。即使股價增長從現在開始放緩,從長遠來看,這也很有可能是一項值得關注的業務。我發現,把股價作為衡量企業業績的長期指標是非常有趣的。但為了真正獲得洞察力,我們還需要考慮其他資訊。一個恰當的例子:我們發現了First American Financial的2個警告信號你應該意識到。

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.

如果你更願意看看另一家公司--一家財務狀況可能更好的公司--那麼不要錯過這一點免費已證明自己能夠實現盈利增長的公司名單。

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,本文引用的市場回報反映了目前在美國交易所交易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.

對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫.或者,也可以給編輯組發電子郵件,地址是暗示Wallst.com。
本文由Simply Wall St.撰寫,具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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