计算股票回报对于投资者评估投资业绩和比较不同股票至关重要。了解如何计算简单回报、年化回报和包括股息在内的总回报有助于您做出明智的投资决策并跟踪投资组合绩效。

什么是股票回报？

股票回报衡量投资股票的利润或损失，以百分比表示。它考虑了价格上涨和收到的股息。正回报表示盈利；负回报表示亏损。

简单的回报公式

股票收益计算的基本公式：

Return = (Ending Price - Beginning Price + Dividends) ÷ Beginning Price
Return % = Return × 100%

示例1：仅价格上涨的股票

Purchase price: $50
Selling price: $65
Dividends: $0

Return = ($65 - $50 + $0) ÷ $50 = $15 ÷ $50 = 0.30
Return % = 30%

示例2：价格下跌的股票

Purchase price: $100
Current price: $85
Dividends received: $5

Return = ($85 - $100 + $5) ÷ $100 = -$10 ÷ $100 = -0.10
Return % = -10%

示例 3：有股息收入的股票

Purchase price: $80
Selling price: $88
Dividends received: $4

Return = ($88 - $80 + $4) ÷ $80 = $12 ÷ $80 = 0.15
Return % = 15%

年化回报率

对于持有时间长于或短于一年的投资，计算年化回报率：

Annualized Return = (1 + Total Return)^(1 ÷ Years) - 1

示例：投资持有 3 年

Beginning value: $1,000
Ending value: $1,400
Period: 3 years

Total Return = ($1,400 - $1,000) ÷ $1,000 = 0.40 (40%)
Annualized = (1 + 0.40)^(1/3) - 1 = 1.40^0.333 - 1 = 0.119 or 11.9%

股票回报示例表

购买 当前的 股息 总回报 返回 ％
$50 $60 $2 $12 24%
$100 $95 $3 -$2 -2%
$25 $40 $1 $16 64%
$200 $210 $10 $20 10%
$75 $65 $0 -$10 -13.3%

多次股息的总回报

当一只股票在您持有期间多次支付股息时，将所有股息相加：

Total Return = (Ending Price - Beginning Price + Sum of All Dividends) ÷ Beginning Price

示例：股票持有 2 年并按季度派息

Purchase price: $80
Selling price: $92
Quarterly dividends: $0.50 × 8 quarters = $4

Total Return = ($92 - $80 + $4) ÷ $80 = $16 ÷ $80 = 0.20
Return % = 20%

股息收益率

将股息部分与总回报分开：

Dividend Yield = Annual Dividends ÷ Current Stock Price × 100%
Price Appreciation = (Ending Price - Beginning Price) ÷ Beginning Price × 100%
Total Return = Dividend Yield + Price Appreciation

例子：

Stock price: $100
Annual dividend: $3
Ending price after 1 year: $110

Dividend Yield = $3 ÷ $100 = 3%
Price Appreciation = ($110 - $100) ÷ $100 = 10%
Total Return = 3% + 10% = 13%

投资绩效比较

库存 购买 销售 股息 返回 返回 ％
一个 $100 $125 $5 $30 30%
乙 $50 $72 $2 $24 48%
C $200 $240 $10 $50 25%

尽管股票 A 的绝对利润最高，但股票 B 的回报率最高。

不同时间段的年化回报

6 months:    Annualized = (1 + Return)^(12/6) - 1 = (1 + Return)^2 - 1
2 years:     Annualized = (1 + Return)^(1/2) - 1
5 years:     Annualized = (1 + Return)^(1/5) - 1

示例：6 个月回报

6-month return: 8%
Annualized = (1.08)^2 - 1 = 1.1664 - 1 = 0.1664 or 16.64%

时机对回报的影响

示例：平均成本法

Month 1: Buy $100 at $50/share → 2 shares
Month 2: Buy $100 at $40/share → 2.5 shares
Month 3: Buy $100 at $45/share → 2.22 shares

Total cost: $300
Total shares: 6.72 shares
Average cost per share: $44.64

If current price is $50:
Total value: $336
Return: ($336 - $300) ÷ $300 = 12%

税收调整后的回报

请记住，投资回报通常需要纳税：

After-Tax Return = Return × (1 - Tax Rate)

例子：

Investment return: 20%
Tax rate: 20%
After-tax return: 20% × (1 - 0.20) = 16%

现实世界的考虑因素

计算实际股票收益时：

1、费用及佣金核算 2.考虑资本利得税 3. 包括所有股息和分配 4. 股票分割调整 5. 考虑再投资股息以进行长期比较

与基准比较

始终将您的股票回报与相关基准进行比较：

S&P 500 average annual return: ~10%
If your stock returned 8%, it underperformed
If your stock returned 15%, it outperformed

使用我们的股票回报计算器即时计算您的投资组合的回报。