<p>对于 <strong>Evolution AB (publ)</strong> (STO:EVO) 的股东来说，这个季度并不是最佳表现，因为股价在此期间下跌了 13%。但这并没有削弱公司在过去五年中所产生的非常稳健的长期回报。可以公平地说，大多数人会对这段时间 127% 的收益感到满意。我们认为，关注长期回报比短期回报更为重要。当然，这并不一定意味着现在的股价便宜。不幸的是，并非所有股东都能长期持有，因此请为那些在过去十二个月中遭遇 38% 下跌的股东考虑一下。</p>
<p>现在值得看看公司的基本面，因为这将帮助我们确定长期股东回报是否与基础业务的表现相匹配。</p>
<p>查看我们对 Evolution 的最新分析</p>
<p>在他的文章《格雷厄姆与多德斯维尔的超级投资者》中，沃伦·巴菲特描述了股价并不总是理性反映企业价值的情况。评估公司情绪变化的一个有缺陷但合理的方法是将每股收益（EPS）与股价进行比较。</p>
<p>在过去的五年中，Evolution 每年的每股收益增长率达到了 49%。这一 EPS 增长率比同期每年 18% 的股价增长更为令人印象深刻。因此，市场似乎对该公司的前景变得相对悲观。</p>
<p>您可以在下面看到 EPS 随时间的变化（通过点击图片发现确切的数值）。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/285223104-earnings-per-share-growth-1-dark/1741002276808?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/285223104-earnings-per-share-growth-1-dark/1741002276808"/></p>
<p>OM:EVO 每股收益增长 2025 年 3 月 3 日</p>
<p>值得注意的是，我们在上个季度看到显著的内部人士买入，这被我们视为一个积极信号。尽管如此，我们认为收益和收入增长趋势是更重要的考虑因素。通过查看 Evolution 的收益、收入和现金流的互动图表，深入了解收益情况。</p>
<h2>股息情况如何？</h2>
<p>在考虑投资回报时，重要的是要考虑_总股东回报_（TSR）与_股价回报_之间的差异。TSR 包括任何分拆或折扣融资的价值，以及任何股息，假设股息被再投资。因此，对于支付丰厚股息的公司，TSR 通常远高于股价回报。我们注意到，Evolution 在过去五年的 TSR 为 143%，这比上述的股价回报要好。而且，毫无疑问，股息支付在很大程度上解释了这种差异！</p>
<h2>不同的视角</h2>
<p>尽管整体市场在过去一年中上涨了约 14%，但 Evolution 的股东却损失了 37%（即使包括股息）。然而，请记住，即使是最好的股票在十二个月的时间里有时也会表现不佳。长期投资者不会太沮丧，因为他们在五年中每年获得了 19% 的收益。如果基本数据继续表明长期可持续增长，目前的抛售可能是一个值得考虑的机会。我发现从长期来看观察股价作为业务表现的代理非常有趣。但要真正获得洞察，我们还需要考虑其他信息。例如，考虑风险。每家公司都有风险，我们发现 <strong>Evolution 有一个警示信号</strong>，您应该了解。</p>
<p>还有很多其他公司也有内部人士在买入股票。您可能不想错过这份 <strong>免费的</strong> 被低估的小型公司的名单，这些公司内部人士正在买入。</p>
<p><em>请注意，本文中引用的市场回报反映了目前在瑞典交易所交易的股票的市场加权平均回报。</em></p>

EVVTY

<p>Evolution AB (STO:EVO) 在过去五年中为股东带来了强劲的 143% 总股东回报率（TSR），尽管本季度股价最近下跌了 13%。公司的每股收益（EPS）年均增长达 49%，超过了 18% 的年股价增长。尽管该股票在过去一年表现不佳，但长期投资者却看到了持续的增长。近期内部人士的买入是一个积极的信号，而当前市场的抛售可能为考虑长期增长的投资者提供了买入机会</p>

<p>It hasn't been the best quarter for <strong>Evolution AB (publ)</strong> (STO:EVO) shareholders, since the share price has fallen 13% in that time. But that scarcely detracts from the really solid long term returns generated by the company over five years. It's fair to say most would be happy with 127% the gain in that time. We think it's more important to dwell on the long term returns than the short term returns. Of course, that doesn't necessarily mean it's cheap now. Unfortunately not all shareholders will have held it for the long term, so spare a thought for those caught in the 38% decline over the last twelve months.</p>
<div class="lb-trans"><p>对于 <strong>Evolution AB (publ)</strong> (STO:EVO) 的股东来说，这个季度并不是最佳表现，因为股价在此期间下跌了 13%。但这并没有削弱公司在过去五年中所产生的非常稳健的长期回报。可以公平地说，大多数人会对这段时间 127% 的收益感到满意。我们认为，关注长期回报比短期回报更为重要。当然，这并不一定意味着现在的股价便宜。不幸的是，并非所有股东都能长期持有，因此请为那些在过去十二个月中遭遇 38% 下跌的股东考虑一下。</p>
</div><p>Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business.</p>
<div class="lb-trans"><p>现在值得看看公司的基本面，因为这将帮助我们确定长期股东回报是否与基础业务的表现相匹配。</p>
</div><p>See our latest analysis for Evolution</p>
<div class="lb-trans"><p>查看我们对 Evolution 的最新分析</p>
</div><p>In his essay <em>The Superinvestors of Graham-and-Doddsville</em> Warren Buffett described how share prices do not always rationally reflect the value of a business. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.</p>
<div class="lb-trans"><p>在他的文章《格雷厄姆与多德斯维尔的超级投资者》中，沃伦·巴菲特描述了股价并不总是理性反映企业价值的情况。评估公司情绪变化的一个有缺陷但合理的方法是将每股收益（EPS）与股价进行比较。</p>
</div><p>Over half a decade, Evolution managed to grow its earnings per share at 49% a year. The EPS growth is more impressive than the yearly share price gain of 18% over the same period. Therefore, it seems the market has become relatively pessimistic about the company.</p>
<div class="lb-trans"><p>在过去的五年中，Evolution 每年的每股收益增长率达到了 49%。这一 EPS 增长率比同期每年 18% 的股价增长更为令人印象深刻。因此，市场似乎对该公司的前景变得相对悲观。</p>
</div><p>You can see below how EPS has changed over time (discover the exact values by clicking on the image).</p>
<div class="lb-trans"><p>您可以在下面看到 EPS 随时间的变化（通过点击图片发现确切的数值）。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/285223104-earnings-per-share-growth-1-dark/1741002276808" alt="" original-src="https://images.simplywall.st/asset/chart/285223104-earnings-per-share-growth-1-dark/1741002276808"/></p>
<p>OM:EVO Earnings Per Share Growth March 3rd 2025</p>
<div class="lb-trans"><p>OM:EVO 每股收益增长 2025 年 3 月 3 日</p>
</div><p>It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. That said, we think earnings and revenue growth trends are even more important factors to consider. Dive deeper into the earnings by checking this interactive graph of Evolution's earnings, revenue and cash flow.</p>
<div class="lb-trans"><p>值得注意的是，我们在上个季度看到显著的内部人士买入，这被我们视为一个积极信号。尽管如此，我们认为收益和收入增长趋势是更重要的考虑因素。通过查看 Evolution 的收益、收入和现金流的互动图表，深入了解收益情况。</p>
</div><h2>What About Dividends?</h2>
<div class="lb-trans"><h2>股息情况如何？</h2>
</div><p>When looking at investment returns, it is important to consider the difference between <em>total shareholder return</em> (TSR) and <em>share price return</em>. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for Evolution the TSR over the last 5 years was 143%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!</p>
<div class="lb-trans"><p>在考虑投资回报时，重要的是要考虑_总股东回报_（TSR）与_股价回报_之间的差异。TSR 包括任何分拆或折扣融资的价值，以及任何股息，假设股息被再投资。因此，对于支付丰厚股息的公司，TSR 通常远高于股价回报。我们注意到，Evolution 在过去五年的 TSR 为 143%，这比上述的股价回报要好。而且，毫无疑问，股息支付在很大程度上解释了这种差异！</p>
</div><h2>A Different Perspective</h2>
<div class="lb-trans"><h2>不同的视角</h2>
</div><p>While the broader market gained around 14% in the last year, Evolution shareholders lost 37% (even including dividends). However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 19%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Consider risks, for instance. Every company has them, and we've spotted <strong>1 warning sign for Evolution</strong> you should know about.</p>
<div class="lb-trans"><p>尽管整体市场在过去一年中上涨了约 14%，但 Evolution 的股东却损失了 37%（即使包括股息）。然而，请记住，即使是最好的股票在十二个月的时间里有时也会表现不佳。长期投资者不会太沮丧，因为他们在五年中每年获得了 19% 的收益。如果基本数据继续表明长期可持续增长，目前的抛售可能是一个值得考虑的机会。我发现从长期来看观察股价作为业务表现的代理非常有趣。但要真正获得洞察，我们还需要考虑其他信息。例如，考虑风险。每家公司都有风险，我们发现 <strong>Evolution 有一个警示信号</strong>，您应该了解。</p>
</div><p>There are plenty of other companies that have insiders buying up shares. You probably do <strong>not</strong> want to miss this <strong>free</strong> list of undervalued small cap companies that insiders are buying.</p>
<div class="lb-trans"><p>还有很多其他公司也有内部人士在买入股票。您可能不想错过这份 <strong>免费的</strong> 被低估的小型公司的名单，这些公司内部人士正在买入。</p>
</div><p><em>Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Swedish exchanges.</em></p>
<div class="lb-trans"><p><em>请注意，本文中引用的市场回报反映了目前在瑞典交易所交易的股票的市场加权平均回报。</em></p>
</div>

Evolution (STO:EVO) 的投资者将对过去五年中强劲的 143% 回报感到满意