现在，我们来看麦当劳的股票，过去一年下跌超过10%，过去五年仅上涨17%，此前我们在过去一年看到了回调。因此，回报肯定不具有吸引力，当然，这也是它处于52周低点的原因。但以这些价格交易的有趣之处在于，麦当劳的起始收益率现在是近10年来最高的，除了2020年市场崩盘之外。
Now, we come to McDonald's stock, who in the last year is down by over 10%, and in the last 5 years only up by 17% after we've seen the pullback in the last year. So, returns have certainly not been attractive, and of course, that's the reason that it's at a 52-week low. But what's interesting about trading at these prices is the starting yield for McDonald's is now the highest that it's been really in close to the last 10 years with the exception of the 2020 market crash.
所以，如果我们跳到股息分解表，让我们稍微缩小范围，我们可以看到，当我们看麦当劳时，与刚刚看过的百事可乐不同，资本配置情况要可持续得多。收益率约为2.7%，历史上股息增长约7%，这总体上是相当有吸引力的，而且幸运的是，他们并没有将所有资本都用于支付股息，而百事可乐的情况就是这样。