<p>以 24.8 倍的市盈率（&#34;P/E&#34;）来看，<strong>大冢制药 (ADR)</strong>（TSE:4768）目前可能发出了非常看跌的信号，因为日本几乎一半的公司市盈率低于 13 倍，甚至低于 9 倍的市盈率也并不罕见。不过，仅仅将市盈率表面化是不明智的，因为可能有解释说明其如此高的原因。</p>
<p>由于近期盈利增长优于大多数其他公司，大冢制药的表现相对较好。似乎许多人预计强劲的盈利表现将持续，这提高了市盈率。如果不是这样，现有股东可能会对股价的可持续性感到有些紧张。</p>
<p>查看我们对大冢制药的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/5871294-pe-multiple-vs-industry-1-dark/1740372260901?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/5871294-pe-multiple-vs-industry-1-dark/1740372260901"/></p>
<p>TSE:4768 市盈率与行业比较 2025 年 2 月 24 日</p>
<p>想知道分析师如何看待大冢制药的未来与行业的对比吗？那么，我们的 <strong>免费</strong> 报告是一个很好的起点。</p>
<h2>增长指标告诉我们关于高市盈率的什么？</h2>
<p>为了证明其市盈率的合理性，大冢制药需要实现远超市场的卓越增长。</p>
<p>回顾过去一年，公司底线实现了 13% 的不错增长。最近三年期间，EPS 也整体上升了 34%，在一定程度上得益于其短期表现。因此，我们可以确认公司在这段时间内在盈利增长方面做得很好。</p>
<p>展望未来，覆盖该公司的十二位分析师的估计显示，未来三年每年的盈利预计将增长 7.0%。而市场预计每年将实现 9.2% 的增长，公司面临的盈利结果可能较弱。</p>
<p>根据这些信息，我们发现大冢制药的市盈率高于市场，这让人感到担忧。似乎大多数投资者希望公司的商业前景能有所好转，但分析师群体对此并不太有信心。如果市盈率降至与增长前景更为一致的水平，这些股东很可能会面临未来的失望。</p>
<h2>最后的总结</h2>
<p>仅仅使用市盈率来判断是否应该卖出你的股票并不明智，但它可以作为公司未来前景的实用指南。</p>
<p>我们对大冢制药的分析师预测的审查显示，其较差的盈利前景并没有像我们预期的那样对其高市盈率产生太大影响。现在，我们对高市盈率越来越感到不安，因为预测的未来盈利不太可能长期支持如此积极的情绪。除非这些条件显著改善，否则很难接受这些价格是合理的。</p>
<p>还值得注意的是，我们发现 <strong>大冢制药有 2 个警告信号</strong>（其中 1 个让我们感到不安！），你需要考虑这些因素。</p>
<p>如果这些 <strong>风险让你重新考虑对大冢制药的看法</strong>，请查看我们高质量股票的互动列表，以了解还有什么其他选择。</p>

4768

大冢制药(ADR)

<p>大冢制药 (ADR)（东京证券交易所代码：4768）面临投资者的担忧，因为其市盈率高达 24.8 倍，显著高于市场平均水平。尽管去年盈利增长了 13%，且三年内每股收益增长了 34%，但分析师预测未来三年仅有 7% 的增长，低于市场的 9.2%。这引发了对其股价可持续性的质疑，因为高市盈率可能无法通过未来的盈利来证明。投资者应保持谨慎，因为当前的乐观情绪可能会导致失望，如果盈利未能达到预期</p>

<p>With a price-to-earnings (or &#34;P/E&#34;) ratio of 24.8x <strong>Otsuka Corporation</strong> (TSE:4768) may be sending very bearish signals at the moment, given that almost half of all companies in Japan have P/E ratios under 13x and even P/E's lower than 9x are not unusual. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so lofty.</p>
<div class="lb-trans"><p>以 24.8 倍的市盈率（&#34;P/E&#34;）来看，<strong>大冢制药 (ADR)</strong>（TSE:4768）目前可能发出了非常看跌的信号，因为日本几乎一半的公司市盈率低于 13 倍，甚至低于 9 倍的市盈率也并不罕见。不过，仅仅将市盈率表面化是不明智的，因为可能有解释说明其如此高的原因。</p>
</div><p>With earnings growth that's superior to most other companies of late, Otsuka has been doing relatively well. It seems that many are expecting the strong earnings performance to persist, which has raised the P/E. If not, then existing shareholders might be a little nervous about the viability of the share price.</p>
<div class="lb-trans"><p>由于近期盈利增长优于大多数其他公司，大冢制药的表现相对较好。似乎许多人预计强劲的盈利表现将持续，这提高了市盈率。如果不是这样，现有股东可能会对股价的可持续性感到有些紧张。</p>
</div><p>See our latest analysis for Otsuka</p>
<div class="lb-trans"><p>查看我们对大冢制药的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/5871294-pe-multiple-vs-industry-1-dark/1740372260901" alt="" original-src="https://images.simplywall.st/asset/chart/5871294-pe-multiple-vs-industry-1-dark/1740372260901"/></p>
<p>TSE:4768 Price to Earnings Ratio vs Industry February 24th 2025</p>
<div class="lb-trans"><p>TSE:4768 市盈率与行业比较 2025 年 2 月 24 日</p>
</div><p>Keen to find out how analysts think Otsuka's future stacks up against the industry? In that case, our <strong>free</strong> report is a great place to start.</p>
<div class="lb-trans"><p>想知道分析师如何看待大冢制药的未来与行业的对比吗？那么，我们的 <strong>免费</strong> 报告是一个很好的起点。</p>
</div><h2>What Are Growth Metrics Telling Us About The High P/E?</h2>
<div class="lb-trans"><h2>增长指标告诉我们关于高市盈率的什么？</h2>
</div><p>In order to justify its P/E ratio, Otsuka would need to produce outstanding growth well in excess of the market.</p>
<div class="lb-trans"><p>为了证明其市盈率的合理性，大冢制药需要实现远超市场的卓越增长。</p>
</div><p>Retrospectively, the last year delivered a decent 13% gain to the company's bottom line. The latest three year period has also seen an excellent 34% overall rise in EPS, aided somewhat by its short-term performance. So we can start by confirming that the company has done a great job of growing earnings over that time.</p>
<div class="lb-trans"><p>回顾过去一年，公司底线实现了 13% 的不错增长。最近三年期间，EPS 也整体上升了 34%，在一定程度上得益于其短期表现。因此，我们可以确认公司在这段时间内在盈利增长方面做得很好。</p>
</div><p>Shifting to the future, estimates from the twelve analysts covering the company suggest earnings should grow by 7.0% each year over the next three years. With the market predicted to deliver 9.2% growth per year, the company is positioned for a weaker earnings result.</p>
<div class="lb-trans"><p>展望未来，覆盖该公司的十二位分析师的估计显示，未来三年每年的盈利预计将增长 7.0%。而市场预计每年将实现 9.2% 的增长，公司面临的盈利结果可能较弱。</p>
</div><p>With this information, we find it concerning that Otsuka is trading at a P/E higher than the market. It seems most investors are hoping for a turnaround in the company's business prospects, but the analyst cohort is not so confident this will happen. There's a good chance these shareholders are setting themselves up for future disappointment if the P/E falls to levels more in line with the growth outlook.</p>
<div class="lb-trans"><p>根据这些信息，我们发现大冢制药的市盈率高于市场，这让人感到担忧。似乎大多数投资者希望公司的商业前景能有所好转，但分析师群体对此并不太有信心。如果市盈率降至与增长前景更为一致的水平，这些股东很可能会面临未来的失望。</p>
</div><h2>The Final Word</h2>
<div class="lb-trans"><h2>最后的总结</h2>
</div><p>Using the price-to-earnings ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.</p>
<div class="lb-trans"><p>仅仅使用市盈率来判断是否应该卖出你的股票并不明智，但它可以作为公司未来前景的实用指南。</p>
</div><p>Our examination of Otsuka's analyst forecasts revealed that its inferior earnings outlook isn't impacting its high P/E anywhere near as much as we would have predicted. Right now we are increasingly uncomfortable with the high P/E as the predicted future earnings aren't likely to support such positive sentiment for long. Unless these conditions improve markedly, it's very challenging to accept these prices as being reasonable.</p>
<div class="lb-trans"><p>我们对大冢制药的分析师预测的审查显示，其较差的盈利前景并没有像我们预期的那样对其高市盈率产生太大影响。现在，我们对高市盈率越来越感到不安，因为预测的未来盈利不太可能长期支持如此积极的情绪。除非这些条件显著改善，否则很难接受这些价格是合理的。</p>
</div><p>It is also worth noting that we have found <strong>2 warning signs for Otsuka</strong> (1 doesn't sit too well with us!) that you need to take into consideration.</p>
<div class="lb-trans"><p>还值得注意的是，我们发现 <strong>大冢制药有 2 个警告信号</strong>（其中 1 个让我们感到不安！），你需要考虑这些因素。</p>
</div><p>If these <strong>risks are making you reconsider your opinion on Otsuka</strong>, explore our interactive list of high quality stocks to get an idea of what else is out there.</p>
<div class="lb-trans"><p>如果这些 <strong>风险让你重新考虑对大冢制药的看法</strong>，请查看我们高质量股票的互动列表，以了解还有什么其他选择。</p>
</div>

大冢公司（TSE:4768）因定价过高而面临投资者欢迎度的威胁