This week we saw the Tyman plc (LON:TYMN) share price climb by 15%. But that cannot eclipse the less-than-impressive returns over the last three years. Truth be told the share price declined 48% in three years and that return, Dear Reader, falls short of what you could have got from passive investing with an index fund.
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
During the three years that the share price fell, Tyman’s earnings per share (EPS) dropped by 8.8% each