福特股票：市场情绪与基本面背离的两种回报的故事

投资股票市场很少有一条成功之路，即使是经验丰富的投资者也会遭遇损失。福特汽车公司（纽约证券交易所股票代码：F）的股东在过去的三年里面临着充满挑战的时期，该公司的股价暴跌了 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.

福特汽车公司（纽约证券交易所股票代码：F）股东经历了艰难的三年，股价暴跌 62%。最近这种疼痛仍在持续，仅在过去 90 天内就下降了 12%。经过如此急剧的下跌，许多投资者可能会摸不着头脑，对公司的未来感到好奇。

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

以下是影响福特股票表现的一些关键因素的详细分析。

Ford's fundamentals: A closer look

福特的基本面：仔细观察

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.

虽然股价大幅下跌，但福特的每股收益 (EPS) 在同一三年内以年增长率 7.3% 增长。盈利增长与股价下跌之间的脱节可能是由于外部因素或过去潜在的高估影响了当前的市场看法。

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.

对于长期投资者来说，另一个重要指标是收入增长，福特这些年的收入有所增长。此外，该公司继续支付股息，这可能会增强其对注重收入的投资者的吸引力。最后，内部人士在过去一年中也购买了股票，这可能表明他们对公司的未来充满信心。

TSR vs. share price return: Which matters more?

股东总回报率与股价回报：哪个更重要？

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.

在评估投资回报时，区分股价回报和股东总回报（TSR）至关重要。股东总回报率包括再投资股息和其他股东利益，可以更全面地了解总回报。对于福特来说，过去三年的股东总回报率为-53%，略好于股价跌幅，但仍不令人鼓舞。

Putting it into perspective

正确看待它

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.

过去一年，以标准普尔 500 指数为代表的大盘上涨约 23%，而福特股东即使考虑股息，仍面临 9.9% 的损失。然而，五年期的长期投资者仍获得 6% 的年化回报率，表明该股在市场波动中具有一定的韧性。

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.

随着该公司收入持续增长，且内部人士对其潜力表现出信心，当前的低迷可能为一些投资者提供买入机会。然而，在做出投资决定之前，始终建议仔细评估公司的基本业绩和更广泛的市场趋势。

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.

福特的故事提醒人们，市场情绪和基本面并不总是一致，但了解这种差异背后的原因是做出明智投资选择的关键。