| Discrete year performance (%) | Share price (total return) | NAV (total return) |
| 30/9/2023 to 30/9/2024 | 19.0 | 16.4 |
| 30/9/2022 to 30/9/2023 | 3.5 | 10.0 |
| 30/9/2021 to 30/9/2022 | -11.4 | -9.9 |
| 30/9/2020 to 30/9/2021 | 11.0 | 18.6 |
| 30/9/2019 to 30/9/2020 | 9.1 | 6.5 |
All performance, cumulative growth and annual growth data is sourced from Morningstar.
Source: at 31/10/24. © 2024 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not predict future returns.
Glossary
Compound Annual Growth Rate (CAGR)
Measures an investment’s annual growth rate over time, including the effect of compounding (where any income is reinvested to generate additional returns). CAGR is typically used to measure and compare the past performance of investments or to project their expected future returns.
CPI
The Consumer Price Index measures the average change in prices paid by consumers over time for a basket of goods and services.
Cost of capital
Cost of capital is a calculation of the minimum return a company would need to justify a capital budgeting project, such as building a new factory.
Discount/premium (investment trusts)
The amount by which the price per share of an investment company is either lower (at a discount) or higher (at a premium) than the net asset value per share (cum income), expressed as a percentage of the net asset value per share.
Dividend
A variable discretionary payment made by a company to its shareholders.
Earnings per share (EPS)
EPS is the bottom-line measure of a company’s profitability, defined as net income (profit after tax) divided by the number of outstanding shares.
Free cash flow (FCF)
Cash that a company generates after allowing for day-to-day running expenses and capital expenditure. It can then use the cash to make purchases, pay dividends or reduce debt.
Net asset value (NAV) total return (investment trusts)
The theoretical total return on shareholders’ funds per share reflecting the change in Net Asset Value (NAV) assuming that dividends paid to shareholders were reinvested at NAV at the time the shares were quoted ex-dividend. A way of measuring investment management performance of investment trusts which is not affected by movements in discounts/premiums.
Share buybacks
Where a company buys back their own shares from the market, thereby reducing the number of shares in circulation, with a consequent increase in the value of each remaining share. It increases the stake that existing shareholders have in the company, including the amount due from any future dividend payments. It typically signals the company’s optimism about the future and a possible undervaluation of the company’s equity.
