福特股票：市場情緒與基本面背離的兩種回報的故事

投資股票市場很少有一條成功之路，即使是經驗豐富的投資者也會遭遇損失。福特汽車公司（NYSE：F）的股東在過去的三年裡面臨著充滿挑戰的時期，該公司的股價暴跌了 62%。

Ford Motor Company (NYSE: F) shareholders have endured a difficult three years, with the stock's value plummeting by 62%. The pain continued more recently, with a 12% slide in the past 90 days alone. After such a steep decline, many investors might be left scratching their heads and wondering about the company's future.

福特汽車（NYSE：F）股東經歷了艱難的三年，股價暴跌 62%。最近這種疼痛仍在持續，僅在過去 90 天內就下降了 12%。經過如此急劇的下跌，許多投資人可能會摸不著頭腦，對公司的未來感到好奇。

Here's a closer look at some of the key factors that have influenced Ford's stock performance.

以下是影響福特股票表現的一些關鍵因素的詳細分析。

Ford's fundamentals: A closer look

福特的基本面：仔細觀察

While the share price declined significantly, Ford's earnings per share (EPS) grew at an annual rate of 7.3% during the same three-year period. This disconnect between earnings growth and declining stock value could be due to external factors or potential overvaluation in the past influencing the current market perception.

雖然股價大幅下跌，但福特的每股盈餘 (EPS) 在同一三年內以年增率 7.3% 成長。獲利成長與股價下跌之間的脫節可能是由於外部因素或過去潛在的高估影響了當前的市場看法。

Another important metric for long-term investors is revenue growth, and Ford showed an increase in its top line during these years. Additionally, the company continued to pay dividends, which could bolster its appeal to income-focused investors. Finally, insiders were also seen purchasing shares in the past year, which could indicate their confidence in the company's future.

對於長期投資者來說，另一個重要指標是收入成長，福特這些年的收入有所成長。此外，該公司繼續支付股息，這可能會增強其對注重收入的投資者的吸引力。最後，內部人士在過去一年中也購買了股票，這可能表明他們對公司的未來充滿信心。

TSR vs. share price return: Which matters more?

股東總報酬率與股價報酬：哪個比較重要？

When assessing investment returns, it's crucial to differentiate between share price return and total shareholder return (TSR). TSR includes reinvested dividends and other shareholder benefits, providing a more comprehensive view of the total return. For Ford, the TSR over the past three years was -53%, which is slightly better than the share price decline but still not encouraging.

在評估投資回報時，區分股價回報和股東總回報（TSR）至關重要。股東總回報率包括再投資股息和其他股東利益，可以更全面地了解總回報。對福特來說，過去三年的股東總報酬率為-53%，略優於股價跌幅，但仍不令人鼓舞。

Putting it into perspective

正確看待它

Over the past year, while the broader market, as represented by the S&P 500 index, rose by about 23%, Ford shareholders faced a 9.9% loss, even after factoring in dividends. However, long-term investors with a five-year horizon have still seen annualized returns of 6%, indicating some resilience in the stock amidst market volatility.

過去一年，以標準普爾 500 指數為代表的大盤上漲約 23%，而福特股東即使考慮股息，仍面臨 9.9% 的損失。然而，五年期的長期投資者仍獲得 6% 的年化報酬率，顯示該股在市場波動中具有一定的韌性。

As the company continues to grow its revenue and insiders display faith in its potential, the current downturn could present a buying opportunity for some investors. However, it's always advisable to carefully assess the company's fundamental performance and the broader market trends before making an investment decision.

隨著該公司收入持續成長，且內部人士對其潛力表現出信心，當前的低迷可能為一些投資者提供買入機會。然而，在做出投資決定之前，始終建議仔細評估公司的基本績效和更廣泛的市場趨勢。

Ford's story is a reminder that market sentiment and fundamentals don't always align, but understanding the reasons behind such divergences is key to making informed investment choices.

福特的故事提醒人們，市場情緒和基本面並不總是一致，但了解這種差異背後的原因是做出明智投資選擇的關鍵。