Smartsheet (NYSE:SMAR) Shareholders Have Endured a 26% Loss From Investing in the Stock Three Years Ago
Smartsheet (NYSE:SMAR) Shareholders Have Endured a 26% Loss From Investing in the Stock Three Years Ago
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But the risk of stock picking is that you will likely buy under-performing companies. Unfortunately, that's been the case for longer term Smartsheet Inc. (NYSE:SMAR) shareholders, since the share price is down 26% in the last three years, falling well short of the market return of around 21%. Furthermore, it's down 10% in about a quarter. That's not much fun for holders.
爲了證明選擇個股的努力是合理的,值得努力超過市場指數基金的回報。但是選股的風險在於,你可能會買入表現不佳的公司。不幸的是,Smartsheet Inc.(紐約證券交易所代碼:SMAR)的長期股東就是這種情況,因爲股價在過去三年中下跌了26%,遠低於約21%的市場回報率。此外,它在大約一個季度內下降了10%。對於持有者來說,這沒什麼好玩的。
With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.
考慮到這一點,值得一看公司的基本面是否是長期業績的驅動力,或者是否存在一些差異。
Smartsheet wasn't profitable in the last twelve months, it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. Shareholders of unprofitable companies usually desire strong revenue growth. As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.
Smartsheet在過去十二個月中沒有盈利,我們不太可能看到其股價與每股收益(EPS)之間存在很強的相關性。可以說,收入是我們的下一個最佳選擇。無利可圖的公司的股東通常希望強勁的收入增長。可以想象,收入的快速增長如果持續下去,通常會帶來利潤的快速增長。
Over three years, Smartsheet grew revenue at 30% per year. That's well above most other pre-profit companies. The share price drop of 8% per year over three years would be considered disappointing by many, so you might argue the company is getting little credit for its impressive revenue growth. It seems likely that actual growth fell short of shareholders' expectations. Before considering a purchase, investors should consider how quickly expenses are growing, relative to revenue.
在過去的三年中,Smartsheet的收入以每年30%的速度增長。這遠高於大多數其他盈利前公司。許多人會認爲三年內股價每年下跌8%,令人失望,因此你可能會爭辯說,該公司令人印象深刻的收入增長几乎沒有得到任何讚譽。實際增長似乎可能低於股東的預期。在考慮收購之前,投資者應考慮支出相對於收入的增長速度。
You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).
您可以在下面看到收入和收入如何隨着時間的推移而變化(點擊圖片了解確切的值)。
We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. So we recommend checking out this free report showing consensus forecasts
我們認爲,去年內部人士進行了大量收購,這是積極的。話雖如此,大多數人認爲收益和收入增長趨勢是更有意義的業務指南。因此,我們建議您查看這份顯示共識預測的免費報告
A Different Perspective
不同的視角
Investors in Smartsheet had a tough year, with a total loss of 11%, against a market gain of about 28%. 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. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 0.2% over the last half decade. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. 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. Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with Smartsheet , and understanding them should be part of your investment process.
Smartsheet的投資者經歷了艱難的一年,總虧損了11%,而市場漲幅約爲28%。即使是優質股票的股價有時也會下跌,但我們希望在過於感興趣之前看到企業基本指標的改善。不幸的是,去年的表現可能預示着尚未解決的挑戰,因爲它比過去五年0.2%的年化虧損還要糟糕。我們意識到羅斯柴爾德男爵曾說過,投資者應該 “在街頭流血時買入”,但我們警告說,投資者應首先確保他們購買的是高質量的企業。我發現將長期股價視爲業務績效的代表非常有趣。但是,要真正獲得見解,我們還需要考慮其他信息。例如,投資風險的幽靈無處不在。我們已經在Smartsheet中發現了一個警告信號,了解它們應該是您投資過程的一部分。
Smartsheet is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Smartsheet並不是內部人士唯一買入的股票。對於那些喜歡尋找獲利投資的人來說,這份最近有內幕收購的成長型公司的免費清單可能就是入場券。
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。
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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.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。