<p>在过去三个月中，Otsuka（TSE:4768）的股价下跌了 6.3%，这使得人们很容易忽视它。然而，从长远来看，股价通常受到公司财务状况的驱动，而在这种情况下，Otsuka 的财务状况看起来相当不错。在本文中，我们决定关注 Otsuka 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>特朗普承诺要 “释放” 美国的石油和天然气，这 15 只美国股票的发展将受益。</p>
<h2>如何计算股本回报率？</h2>
<p><strong>ROE 可以通过以下公式计算：</strong></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，Otsuka 的 ROE 为：</p>
<p>16% = JP¥57b ÷ JP¥361b（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 1 日元的股东投资，公司产生了 0.16 日元的利润。</p>
<p>查看我们对 Otsuka 的最新分析</p>
<h2>ROE 与盈利增长之间的关系是什么？</h2>
<p>到目前为止，我们了解到 ROE 衡量的是公司产生利润的效率。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。假设其他条件相同，具有更高股本回报率和更高利润保留的公司通常与没有相同特征的公司相比，具有更高的增长率。</p>
<h2>Otsuka 的盈利增长与 16% ROE</h2>
<p>首先，Otsuka 似乎拥有一个相当不错的 ROE。此外，该公司的 ROE 与行业平均水平 14% 相似。这可能在一定程度上解释了 Otsuka 在过去五年中 5.6% 的适度增长，尽管还有其他因素。</p>
<p>作为下一步，我们将 Otsuka 的净收入增长与行业进行了比较，令人失望的是，该公司的增长低于同期行业平均增长 14%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/5871294-past-earnings-growth-1-dark-2/1752454353947?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-past-earnings-growth-1-dark-2/1752454353947"/></p>
<p>TSE:4768 过去的盈利增长 2025 年 7 月 14 日</p>
<p>盈利增长是股票估值的一个重要因素。投资者应尝试确定预期的盈利增长或下降，无论是哪种情况，是否已被定价。通过这样做，他们将能够了解该股票是否进入了清澈的水域，还是面临泥泞的水域。4768 的估值是否合理？关于公司内在价值的信息图包含了您需要了解的所有内容。</p>
<h2>Otsuka 是否有效利用其利润？</h2>
<p>虽然 Otsuka 的三年中位数派息比率为 55%（这意味着它保留了 45% 的利润），但该公司在过去仍然实现了相当可观的盈利增长，这意味着其高派息比率并没有妨碍其增长能力。</p>
<p>此外，Otsuka 已经支付了至少十年以上的股息。这表明公司致力于与股东分享利润。</p>
<h2>总结</h2>
<p>总体而言，我们认为 Otsuka 确实有一些积极因素值得考虑。正如我们之前看到的，其盈利增长相当可观，这可能是由于公司以相当高的回报率再投资其收益。然而，考虑到高 ROE，我们认为公司再投资的利润比例较小。这可能阻碍了公司充分发展的潜力。最新的行业分析师预测显示，该公司预计将维持当前的增长率。要了解更多关于公司未来盈利增长预测的信息，请查看这份关于公司分析师预测的 <strong>免费</strong> 报告。</p>

大冢制药(ADR)

4768

<p>大冢制药 (ADR) 的股票在过去三个月中下跌了 6.3%，尽管基本面表现尚可。该公司的股本回报率（ROE）为 16%，高于行业平均水平 14%，表明其盈利能力有效。然而，大冢在过去五年的盈利增长为 5.6%，低于行业平均的 14%。公司派息比率为 55%，保留了 45% 的利润，显示出对分红的承诺。分析师预计大冢将维持当前的增长率，但其再投资策略可能会限制进一步的增长潜力</p>

<p>With its stock down 6.3% over the past three months, it is easy to disregard Otsuka (TSE:4768). However, stock prices are usually driven by a company’s financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on Otsuka's ROE.</p>
<div class="lb-trans"><p>在过去三个月中，Otsuka（TSE:4768）的股价下跌了 6.3%，这使得人们很容易忽视它。然而，从长远来看，股价通常受到公司财务状况的驱动，而在这种情况下，Otsuka 的财务状况看起来相当不错。在本文中，我们决定关注 Otsuka 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>Trump has pledged to &#34;unleash&#34; American oil and gas and these 15 US stocks have developments that are poised to benefit.</p>
<div class="lb-trans"><p>特朗普承诺要 “释放” 美国的石油和天然气，这 15 只美国股票的发展将受益。</p>
</div><h2>How To Calculate Return On Equity?</h2>
<div class="lb-trans"><h2>如何计算股本回报率？</h2>
</div><p><strong>ROE can be calculated by using the formula:</strong></p>
<div class="lb-trans"><p><strong>ROE 可以通过以下公式计算：</strong></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 Otsuka is:</p>
<div class="lb-trans"><p>因此，根据上述公式，Otsuka 的 ROE 为：</p>
</div><p>16% = JP¥57b ÷ JP¥361b (Based on the trailing twelve months to March 2025).</p>
<div class="lb-trans"><p>16% = JP¥57b ÷ JP¥361b（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 ¥1 of its shareholder's investments, the company generates a profit of ¥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 1 日元的股东投资，公司产生了 0.16 日元的利润。</p>
</div><p>See our latest analysis for Otsuka</p>
<div class="lb-trans"><p>查看我们对 Otsuka 的最新分析</p>
</div><h2>What Is The Relationship Between ROE And Earnings Growth?</h2>
<div class="lb-trans"><h2>ROE 与盈利增长之间的关系是什么？</h2>
</div><p>Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.</p>
<div class="lb-trans"><p>到目前为止，我们了解到 ROE 衡量的是公司产生利润的效率。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。假设其他条件相同，具有更高股本回报率和更高利润保留的公司通常与没有相同特征的公司相比，具有更高的增长率。</p>
</div><h2>Otsuka's Earnings Growth And 16% ROE</h2>
<div class="lb-trans"><h2>Otsuka 的盈利增长与 16% ROE</h2>
</div><p>To begin with, Otsuka seems to have a respectable ROE. Further, the company's ROE is similar to the industry average of 14%. This probably goes some way in explaining Otsuka's moderate 5.6% growth over the past five years amongst other factors.</p>
<div class="lb-trans"><p>首先，Otsuka 似乎拥有一个相当不错的 ROE。此外，该公司的 ROE 与行业平均水平 14% 相似。这可能在一定程度上解释了 Otsuka 在过去五年中 5.6% 的适度增长，尽管还有其他因素。</p>
</div><p>As a next step, we compared Otsuka's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 14% in the same period.</p>
<div class="lb-trans"><p>作为下一步，我们将 Otsuka 的净收入增长与行业进行了比较，令人失望的是，该公司的增长低于同期行业平均增长 14%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/5871294-past-earnings-growth-1-dark-2/1752454353947" alt="" original-src="https://images.simplywall.st/asset/chart/5871294-past-earnings-growth-1-dark-2/1752454353947"/></p>
<p>TSE:4768 Past Earnings Growth July 14th 2025</p>
<div class="lb-trans"><p>TSE:4768 过去的盈利增长 2025 年 7 月 14 日</p>
</div><p>Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is 4768 fairly valued? This infographic on the company's intrinsic value has everything you need to know.</p>
<div class="lb-trans"><p>盈利增长是股票估值的一个重要因素。投资者应尝试确定预期的盈利增长或下降，无论是哪种情况，是否已被定价。通过这样做，他们将能够了解该股票是否进入了清澈的水域，还是面临泥泞的水域。4768 的估值是否合理？关于公司内在价值的信息图包含了您需要了解的所有内容。</p>
</div><h2>Is Otsuka Making Efficient Use Of Its Profits?</h2>
<div class="lb-trans"><h2>Otsuka 是否有效利用其利润？</h2>
</div><p>While Otsuka has a three-year median payout ratio of 55% (which means it retains 45% of profits), the company has still seen a fair bit of earnings growth in the past, meaning that its high payout ratio hasn't hampered its ability to grow.</p>
<div class="lb-trans"><p>虽然 Otsuka 的三年中位数派息比率为 55%（这意味着它保留了 45% 的利润），但该公司在过去仍然实现了相当可观的盈利增长，这意味着其高派息比率并没有妨碍其增长能力。</p>
</div><p>Besides, Otsuka has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders.</p>
<div class="lb-trans"><p>此外，Otsuka 已经支付了至少十年以上的股息。这表明公司致力于与股东分享利润。</p>
</div><h2>Summary</h2>
<div class="lb-trans"><h2>总结</h2>
</div><p>Overall, we feel that Otsuka certainly does have some positive factors to consider. Its earnings have grown respectably as we saw earlier, which was likely due to the company reinvesting its earnings at a pretty high rate of return. However, given the high ROE, we do think that the company is reinvesting a small portion of its profits. This could likely be preventing the company from growing to its full extent. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. 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>总体而言，我们认为 Otsuka 确实有一些积极因素值得考虑。正如我们之前看到的，其盈利增长相当可观，这可能是由于公司以相当高的回报率再投资其收益。然而，考虑到高 ROE，我们认为公司再投资的利润比例较小。这可能阻碍了公司充分发展的潜力。最新的行业分析师预测显示，该公司预计将维持当前的增长率。要了解更多关于公司未来盈利增长预测的信息，请查看这份关于公司分析师预测的 <strong>免费</strong> 报告。</p>
</div>

大冢公司（TSE:4768）的股票价格一直在下滑，但其基本面看起来相当不错：市场会在未来调整其股价吗？