<p>大多数读者可能已经知道，Fairfax Financial Holdings（多伦多证券交易所代码：FFH）的股票在过去三个月中显著上涨了 12%。鉴于该公司的出色表现，我们决定更仔细地研究其财务指标，因为公司的长期财务健康通常决定市场结果。具体来说，我们决定在本文中研究 Fairfax Financial Holdings 的股本回报率（ROE）。</p>
<p>股本回报率（ROE）是衡量公司如何有效地增长其价值和管理投资者资金的指标。换句话说，它是一个盈利能力比率，衡量公司股东提供的资本的回报率。</p>
<p>人工智能即将改变医疗保健。这 20 只股票正在从早期诊断到药物发现等各个方面进行工作。最棒的是——它们的市值都在 100 亿美元以下——现在仍然有机会提前投资。</p>
<h2>ROE 是如何计算的？</h2>
<p><strong>ROE 的公式</strong> 是：</p>
<p>股本回报率 = 净利润（来自持续经营）÷ 股东权益</p>
<p>因此，根据上述公式，Fairfax Financial Holdings 的 ROE 为：</p>
<p>16% = 44 亿美元 ÷ 280 亿美元（基于截至 2025 年 3 月的过去十二个月）。</p>
<p>“回报” 是指过去十二个月的税后收益。这意味着，对于每加元 1 的股东投资，公司产生了 0.16 加元的利润。</p>
<p>查看我们对 Fairfax Financial Holdings 的最新分析</p>
<h2>ROE 与收益增长有什么关系？</h2>
<p>我们已经确定，ROE 作为公司未来收益的有效盈利生成指标。根据公司选择再投资或 “保留” 的利润比例，我们能够评估公司未来产生利润的能力。一般来说，其他条件相同，具有高股本回报率和利润保留的公司，其增长率高于不具备这些特征的公司。</p>
<h2>Fairfax Financial Holdings 的收益增长与 16% ROE 的并列比较</h2>
<p>首先，Fairfax Financial Holdings 的 ROE 看起来是可以接受的。特别是与行业平均水平 13% 相比，该公司的 ROE 显得相当出色。可能正因如此，Fairfax Financial Holdings 在过去五年中实现了 30% 的净收入增长。然而，这种增长也可能有其他原因，例如高收益保留或高效的管理。</p>
<p>作为下一步，我们将 Fairfax Financial Holdings 的净收入增长与行业进行了比较，令人欣慰的是，我们发现该公司的增长高于行业平均增长 11%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/698550-past-earnings-growth-1-dark/1746283988732?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/698550-past-earnings-growth-1-dark/1746283988732"/></p>
<p>TSX:FFH 过去的收益增长 2025 年 5 月 3 日</p>
<p>对公司的估值在很大程度上与其收益增长相关。投资者应尝试确定预期的收益增长或下降，无论是哪种情况，是否已被定价。这有助于他们判断股票的未来是光明还是黯淡。与其他公司相比，Fairfax Financial Holdings 的估值是否合理？这三项估值指标可能会帮助您做出决定。</p>
<h2>Fairfax Financial Holdings 是否有效地再投资其利润？</h2>
<p>Fairfax Financial Holdings 的三年中位数派息比率较低，为 8.1%，这意味着它保留了更高比例（92%）的利润。这表明管理层正在将大部分利润再投资于业务，这从公司所取得的增长中得到了证明。</p>
<p>此外，Fairfax Financial Holdings 已经连续至少十年支付股息。这表明公司致力于与股东分享利润。我们最新的分析数据显示，预计未来三年公司的派息比率将上升至 14%。因此，预计派息比率的上升解释了公司 ROE 预计将在同一时期下降至 10% 的原因。</p>
<h2>结论</h2>
<p>总的来说，我们对 Fairfax Financial Holdings 的表现感到相当满意。特别是看到公司在其业务上进行大量投资，并且伴随着高回报率，这导致其收益大幅增长，这一点非常好。尽管如此，根据最新的行业分析师预测，公司的收益预计将在未来缩减。要了解更多关于公司未来收益增长预测的信息，请查看这份关于公司分析师预测的 <strong>免费</strong> 报告。</p>
<p>如果您想交易 Fairfax Financial Holdings，请在专业人士信赖的最低成本平台 Interactive Brokers 开设账户。</p>
<p>IBKR 在 200 多个国家和地区拥有客户，并可访问 160 个市场，允许您通过一个集成账户交易股票、期权、期货、外汇、债券和基金。</p>
<p>享受无隐藏费用，无账户最低要求，外汇转换率低至 0.03%，远低于大多数经纪商提供的费用。</p>
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FRFHF

<p>Fairfax Financial Holdings（多伦多证券交易所代码：FFH）在过去三个月中股价上涨了 12%，这归因于其强劲的财务表现。该公司的股本回报率（ROE）为 16%，超过行业平均水平的 13%，并促成了过去五年 30% 的净收入增长。Fairfax 的派息比率较低，仅为 8.1%，因此保留了 92% 的利润用于再投资。然而，未来的收益预计将下降，预计派息比率将上升至 14%，ROE 将降至 10%。总体而言，该公司表现稳健，但面临未来的挑战</p>

<p>Most readers would already be aware that Fairfax Financial Holdings' (TSE:FFH) stock increased significantly by 12% over the past three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. Specifically, we decided to study Fairfax Financial Holdings' ROE in this article.</p>
<div class="lb-trans"><p>大多数读者可能已经知道，Fairfax Financial Holdings（多伦多证券交易所代码：FFH）的股票在过去三个月中显著上涨了 12%。鉴于该公司的出色表现，我们决定更仔细地研究其财务指标，因为公司的长期财务健康通常决定市场结果。具体来说，我们决定在本文中研究 Fairfax Financial Holdings 的股本回报率（ROE）。</p>
</div><p>Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.</p>
<div class="lb-trans"><p>股本回报率（ROE）是衡量公司如何有效地增长其价值和管理投资者资金的指标。换句话说，它是一个盈利能力比率，衡量公司股东提供的资本的回报率。</p>
</div><p>AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early.</p>
<div class="lb-trans"><p>人工智能即将改变医疗保健。这 20 只股票正在从早期诊断到药物发现等各个方面进行工作。最棒的是——它们的市值都在 100 亿美元以下——现在仍然有机会提前投资。</p>
</div><h2>How Is ROE Calculated?</h2>
<div class="lb-trans"><h2>ROE 是如何计算的？</h2>
</div><p>The <strong>formula for ROE</strong> is:</p>
<div class="lb-trans"><p><strong>ROE 的公式</strong> 是：</p>
</div><p>Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity</p>
<div class="lb-trans"><p>股本回报率 = 净利润（来自持续经营）÷ 股东权益</p>
</div><p>So, based on the above formula, the ROE for Fairfax Financial Holdings is:</p>
<div class="lb-trans"><p>因此，根据上述公式，Fairfax Financial Holdings 的 ROE 为：</p>
</div><p>16% = US$4.4b ÷ US$28b (Based on the trailing twelve months to March 2025).</p>
<div class="lb-trans"><p>16% = 44 亿美元 ÷ 280 亿美元（基于截至 2025 年 3 月的过去十二个月）。</p>
</div><p>The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CA$1 of its shareholder's investments, the company generates a profit of CA$0.16.</p>
<div class="lb-trans"><p>“回报” 是指过去十二个月的税后收益。这意味着，对于每加元 1 的股东投资，公司产生了 0.16 加元的利润。</p>
</div><p>See our latest analysis for Fairfax Financial Holdings</p>
<div class="lb-trans"><p>查看我们对 Fairfax Financial Holdings 的最新分析</p>
</div><h2>What Has ROE Got To Do With Earnings Growth?</h2>
<div class="lb-trans"><h2>ROE 与收益增长有什么关系？</h2>
</div><p>We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Based on how much of its profits the company chooses to reinvest or &#34;retain&#34;, we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.</p>
<div class="lb-trans"><p>我们已经确定，ROE 作为公司未来收益的有效盈利生成指标。根据公司选择再投资或 “保留” 的利润比例，我们能够评估公司未来产生利润的能力。一般来说，其他条件相同，具有高股本回报率和利润保留的公司，其增长率高于不具备这些特征的公司。</p>
</div><h2>A Side By Side comparison of Fairfax Financial Holdings' Earnings Growth And 16% ROE</h2>
<div class="lb-trans"><h2>Fairfax Financial Holdings 的收益增长与 16% ROE 的并列比较</h2>
</div><p>To start with, Fairfax Financial Holdings' ROE looks acceptable. Especially when compared to the industry average of 13% the company's ROE looks pretty impressive. Probably as a result of this, Fairfax Financial Holdings was able to see an impressive net income growth of 30% over the last five years. However, there could also be other causes behind this growth. Such as - high earnings retention or an efficient management in place.</p>
<div class="lb-trans"><p>首先，Fairfax Financial Holdings 的 ROE 看起来是可以接受的。特别是与行业平均水平 13% 相比，该公司的 ROE 显得相当出色。可能正因如此，Fairfax Financial Holdings 在过去五年中实现了 30% 的净收入增长。然而，这种增长也可能有其他原因，例如高收益保留或高效的管理。</p>
</div><p>As a next step, we compared Fairfax Financial Holdings' net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 11%.</p>
<div class="lb-trans"><p>作为下一步，我们将 Fairfax Financial Holdings 的净收入增长与行业进行了比较，令人欣慰的是，我们发现该公司的增长高于行业平均增长 11%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/698550-past-earnings-growth-1-dark/1746283988732" alt="" original-src="https://images.simplywall.st/asset/chart/698550-past-earnings-growth-1-dark/1746283988732"/></p>
<p>TSX:FFH Past Earnings Growth May 3rd 2025</p>
<div class="lb-trans"><p>TSX:FFH 过去的收益增长 2025 年 5 月 3 日</p>
</div><p>The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is Fairfax Financial Holdings fairly valued compared to other companies? These 3 valuation measures might help you decide.</p>
<div class="lb-trans"><p>对公司的估值在很大程度上与其收益增长相关。投资者应尝试确定预期的收益增长或下降，无论是哪种情况，是否已被定价。这有助于他们判断股票的未来是光明还是黯淡。与其他公司相比，Fairfax Financial Holdings 的估值是否合理？这三项估值指标可能会帮助您做出决定。</p>
</div><h2>Is Fairfax Financial Holdings Efficiently Re-investing Its Profits?</h2>
<div class="lb-trans"><h2>Fairfax Financial Holdings 是否有效地再投资其利润？</h2>
</div><p>Fairfax Financial Holdings' ' three-year median payout ratio is on the lower side at 8.1% implying that it is retaining a higher percentage (92%) of its profits. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.</p>
<div class="lb-trans"><p>Fairfax Financial Holdings 的三年中位数派息比率较低，为 8.1%，这意味着它保留了更高比例（92%）的利润。这表明管理层正在将大部分利润再投资于业务，这从公司所取得的增长中得到了证明。</p>
</div><p>Besides, Fairfax Financial Holdings has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 14% over the next three years. Therefore, the expected rise in the payout ratio explains why the company's ROE is expected to decline to 10% over the same period.</p>
<div class="lb-trans"><p>此外，Fairfax Financial Holdings 已经连续至少十年支付股息。这表明公司致力于与股东分享利润。我们最新的分析数据显示，预计未来三年公司的派息比率将上升至 14%。因此，预计派息比率的上升解释了公司 ROE 预计将在同一时期下降至 10% 的原因。</p>
</div><h2>Conclusion</h2>
<div class="lb-trans"><h2>结论</h2>
</div><p>In total, we are pretty happy with Fairfax Financial Holdings' performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. That being so, according to the latest industry analyst forecasts, the company's earnings are expected to shrink in the future. To know more about the company's future earnings growth forecasts take a look at this <strong>free</strong> report on analyst forecasts for the company to find out more.</p>
<div class="lb-trans"><p>总的来说，我们对 Fairfax Financial Holdings 的表现感到相当满意。特别是看到公司在其业务上进行大量投资，并且伴随着高回报率，这导致其收益大幅增长，这一点非常好。尽管如此，根据最新的行业分析师预测，公司的收益预计将在未来缩减。要了解更多关于公司未来收益增长预测的信息，请查看这份关于公司分析师预测的 <strong>免费</strong> 报告。</p>
</div><p>If you're looking to trade Fairfax Financial Holdings, open an account with the lowest-cost platform trusted by professionals, Interactive Brokers.</p>
<div class="lb-trans"><p>如果您想交易 Fairfax Financial Holdings，请在专业人士信赖的最低成本平台 Interactive Brokers 开设账户。</p>
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<div class="lb-trans"><p>IBKR 在 200 多个国家和地区拥有客户，并可访问 160 个市场，允许您通过一个集成账户交易股票、期权、期货、外汇、债券和基金。</p>
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Fairfax Financial Holdings Limited（TSE:FFH）的股票正在上涨：是否是强劲的财务状况在引导市场？