TSR, Unpacked: Cash Returns, Growth, and Multiple Re-Rating Explained

  • Author:
    Geoff Robinson
  • Level: 
    Intermediate to advanced
  • Study time:
    30 minutes
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Course overview
This playlist demystifies Total Shareholder Return (TSR) so you can separate real business execution from shifting market expectations. We break TSR into its drivers—cash returns (dividends/buybacks), fundamental growth, and multiple re-rating—then show how each maps to strategy, capital allocation, and investor communication.

You’ll learn why the “expectations treadmill” can make improving companies look average, how re-rating distorts scorecards, and how to build a clean TSR bridge that links price moves to fundamentals. Use these tools to brief management, run board reviews, and craft research that credits what’s controlled—and discounts what isn’t.

What's included?

  • 2 videos
  • Turn market noise into insight: decompose TSR to credit execution, not just re-rating.
  • Insights from a #1 ranked data-driven analyst

Who should watch this playlist? 

Equity analysts, IR teams, portfolio managers, CFOs/strategy leads, and MBA students who need to explain stock moves with discipline. If you’ve ever confused multiple expansion for execution—or struggled to attribute TSR properly—this series gives you a practical decomposition and language that aligns boards, investors, and operators.

Why TheInvestmentAnalyst.com?

We are the only training house that is able to bring top-ranked analyst experience into your classroom. We buck the trend. Most training businesses recruit junior ex-bankers to become their trainer. Our instructors cut their teeth teaching and then gain senior experience with investment banks.

We believe, you could not be in better hands.

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Geoff Robinson
FCA FMVA MFM

Thought leader, instructor, writer, financial influencer, Former UBS Managing Director and 8x #1 ranked analysts EMEA Institutional Investor Survey
ABOUT Geoff
Geoff has had a varied career. He was a Managing Director within UBS Equity Research, leading their Global Fundamental Analytics franchise. During this time, he was #1, ranked 10x in the EMEA Institutional Investor Survey. Before UBS, he was a material equity investor and LBO co-investor in two market exited training consultancies. Geoff has a passion for learning and is well-known for his ability to break down complex subject matter and distil it to an audience in a digestible and engaging manner. He brings this passion to TheInvestmentAnalyst.com. 
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