<p>Zeon（东京证券交易所代码：4205）的股票在过去三个月上涨了 20%。然而，我们决定关注公司的基本面，这并没有明显表明公司的财务健康状况。在本文中，我们决定重点关注 Zeon 的股东权益回报率（ROE）。</p>
<p>股东权益回报率（ROE）是评估公司如何有效地利用股东投资产生回报的有用工具。换句话说，它揭示了公司将股东投资转化为利润的成功程度。</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布局。</p>
<h2>ROE 是如何计算的？</h2>
<p><strong>股东权益回报率可以通过以下公式计算：</strong></p>
<p>股东权益回报率 = 净利润（来自持续经营）÷ 股东权益</p>
<p>因此，根据上述公式，Zeon 的 ROE 为：</p>
<p>7.2% = JP¥26b ÷ JP¥356b（基于截至 2025 年 6 月的过去十二个月）。</p>
<p>“回报” 是过去十二个月的利润。可以这样理解，对于每 1 日元的股东资本，公司赚取了 0.07 日元的利润。</p>
<p>查看我们对 Zeon 的最新分析</p>
<h2>ROE 与盈利增长之间的关系是什么？</h2>
<p>我们已经确定 ROE 作为公司未来盈利的有效利润生成指标。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。假设其他条件不变，ROE 和利润保留越高，公司的增长率就越高，相较于那些不一定具备这些特征的公司。</p>
<h2>Zeon 的盈利增长与 7.2% ROE 的并排比较</h2>
<p>乍一看，Zeon 的 ROE 似乎并不太乐观。然而，考虑到公司的 ROE 与行业平均 ROE 6.8% 相似，我们可以稍作思考。然而，Zeon 在过去五年中净收入增长平稳，这并不算太好。请记住，公司的 ROE 本身并不特别出色。因此，这为公司所见的平稳盈利增长提供了一些背景。</p>
<p>接下来，在与行业净收入增长进行比较时，我们发现行业在过去几年中盈利增长了 7.5%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/874993-past-earnings-growth-1-dark-2/1756077069387?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/874993-past-earnings-growth-1-dark-2/1756077069387"/></p>
<p>东京证券交易所：4205 过去的盈利增长 2025 年 8 月 24 日</p>
<p>对公司的估值在很大程度上与其盈利增长相关。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，他们将能够了解股票是否正朝着清澈的水域前进，或者是否有泥泞的水域在等待。一项良好的预期盈利增长指标是市盈率（P/E），它决定了市场愿意为一只股票支付的价格，基于其盈利前景。因此，您可能想检查 Zeon 是以高市盈率还是低市盈率交易，相对于其行业。</p>
<h2>Zeon 是否有效利用其留存收益？</h2>
<p>尽管在过去三年中，Zeon 的中位派息率为 41%（意味着公司保留了 59% 的利润），但其盈利增长几乎持平。因此，可能还有其他原因来解释这一缺乏。例如，业务可能处于下滑状态。</p>
<p>此外，Zeon 已经支付了至少十年的股息，这表明管理层可能认为股东更喜欢股息而非盈利增长。</p>
<h2>总结</h2>
<p>总体而言，我们对 Zeon 的看法褒贬不一。虽然公司确实有较高的再投资率，但低 ROE 意味着所有的再投资对投资者没有带来任何好处，而且对盈利增长产生了负面影响。尽管如此，我们研究了最新的分析师预测，发现尽管公司过去的盈利有所缩减，分析师预计其未来盈利将会增长。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 <strong>免费</strong> 的分析师预测报告。</p>

4205

<p>泽恩公司（TSE:4205）在过去三个月的股价上涨了 20%，但其基本面引发了对财务健康的担忧。该公司的股本回报率（ROE）为 7.2%，略高于行业平均水平 6.8%，然而在过去五年中净收入增长平稳。尽管其派息比率为 41%，但缺乏盈利增长表明潜在的业务下滑。分析师预测未来盈利增长，尽管过去表现不佳，这表明对公司前景的看法存在分歧</p>

<p>Zeon's (TSE:4205) stock is up by a considerable 20% over the past three months. However, we decided to pay attention to the company's fundamentals which don't appear to give a clear sign about the company's financial health. In this article, we decided to focus on Zeon's ROE.</p>
<div class="lb-trans"><p>Zeon（东京证券交易所代码：4205）的股票在过去三个月上涨了 20%。然而，我们决定关注公司的基本面，这并没有明显表明公司的财务健康状况。在本文中，我们决定重点关注 Zeon 的股东权益回报率（ROE）。</p>
</div><p>ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Put another way, it reveals the company's success at turning shareholder investments into profits.</p>
<div class="lb-trans"><p>股东权益回报率（ROE）是评估公司如何有效地利用股东投资产生回报的有用工具。换句话说，它揭示了公司将股东投资转化为利润的成功程度。</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布局。</p>
</div><h2>How Is ROE Calculated?</h2>
<div class="lb-trans"><h2>ROE 是如何计算的？</h2>
</div><p><strong>Return on equity can be calculated by using the formula:</strong></p>
<div class="lb-trans"><p><strong>股东权益回报率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>股东权益回报率 = 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 Zeon is:</p>
<div class="lb-trans"><p>因此，根据上述公式，Zeon 的 ROE 为：</p>
</div><p>7.2% = JP¥26b ÷ JP¥356b (Based on the trailing twelve months to June 2025).</p>
<div class="lb-trans"><p>7.2% = JP¥26b ÷ JP¥356b（基于截至 2025 年 6 月的过去十二个月）。</p>
</div><p>The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each ¥1 of shareholders' capital it has, the company made ¥0.07 in profit.</p>
<div class="lb-trans"><p>“回报” 是过去十二个月的利润。可以这样理解，对于每 1 日元的股东资本，公司赚取了 0.07 日元的利润。</p>
</div><p>View our latest analysis for Zeon</p>
<div class="lb-trans"><p>查看我们对 Zeon 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>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. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.</p>
<div class="lb-trans"><p>我们已经确定 ROE 作为公司未来盈利的有效利润生成指标。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。假设其他条件不变，ROE 和利润保留越高，公司的增长率就越高，相较于那些不一定具备这些特征的公司。</p>
</div><h2>A Side By Side comparison of Zeon's Earnings Growth And 7.2% ROE</h2>
<div class="lb-trans"><h2>Zeon 的盈利增长与 7.2% ROE 的并排比较</h2>
</div><p>At first glance, Zeon's ROE doesn't look very promising. However, given that the company's ROE is similar to the average industry ROE of 6.8%, we may spare it some thought. However, Zeon has seen a flattish net income growth over the past five years, which is not saying much. Remember, the company's ROE is not particularly great to begin with. Hence, this provides some context to the flat earnings growth seen by the company.</p>
<div class="lb-trans"><p>乍一看，Zeon 的 ROE 似乎并不太乐观。然而，考虑到公司的 ROE 与行业平均 ROE 6.8% 相似，我们可以稍作思考。然而，Zeon 在过去五年中净收入增长平稳，这并不算太好。请记住，公司的 ROE 本身并不特别出色。因此，这为公司所见的平稳盈利增长提供了一些背景。</p>
</div><p>Next, on comparing with the industry net income growth, we found that the industry grew its earnings by 7.5% over the last few years.</p>
<div class="lb-trans"><p>接下来，在与行业净收入增长进行比较时，我们发现行业在过去几年中盈利增长了 7.5%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/874993-past-earnings-growth-1-dark-2/1756077069387" alt="" original-src="https://images.simplywall.st/asset/chart/874993-past-earnings-growth-1-dark-2/1756077069387"/></p>
<p>TSE:4205 Past Earnings Growth August 24th 2025</p>
<div class="lb-trans"><p>东京证券交易所：4205 过去的盈利增长 2025 年 8 月 24 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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Zeon is trading on a high P/E or a low P/E, relative to its industry.</p>
<div class="lb-trans"><p>对公司的估值在很大程度上与其盈利增长相关。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，他们将能够了解股票是否正朝着清澈的水域前进，或者是否有泥泞的水域在等待。一项良好的预期盈利增长指标是市盈率（P/E），它决定了市场愿意为一只股票支付的价格，基于其盈利前景。因此，您可能想检查 Zeon 是以高市盈率还是低市盈率交易，相对于其行业。</p>
</div><h2>Is Zeon Using Its Retained Earnings Effectively?</h2>
<div class="lb-trans"><h2>Zeon 是否有效利用其留存收益？</h2>
</div><p>Despite having a moderate three-year median payout ratio of 41% (meaning the company retains59% of profits) in the last three-year period, Zeon's earnings growth was more or les flat. Therefore, there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.</p>
<div class="lb-trans"><p>尽管在过去三年中，Zeon 的中位派息率为 41%（意味着公司保留了 59% 的利润），但其盈利增长几乎持平。因此，可能还有其他原因来解释这一缺乏。例如，业务可能处于下滑状态。</p>
</div><p>Moreover, Zeon has been paying dividends for at least ten years or more suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.</p>
<div class="lb-trans"><p>此外，Zeon 已经支付了至少十年的股息，这表明管理层可能认为股东更喜欢股息而非盈利增长。</p>
</div><h2>Summary</h2>
<div class="lb-trans"><h2>总结</h2>
</div><p>Overall, we have mixed feelings about Zeon. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. With that said, we studied the latest analyst forecasts and found that while the company has shrunk its earnings in the past, analysts expect its earnings to grow 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>总体而言，我们对 Zeon 的看法褒贬不一。虽然公司确实有较高的再投资率，但低 ROE 意味着所有的再投资对投资者没有带来任何好处，而且对盈利增长产生了负面影响。尽管如此，我们研究了最新的分析师预测，发现尽管公司过去的盈利有所缩减，分析师预计其未来盈利将会增长。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 <strong>免费</strong> 的分析师预测报告。</p>
</div>

混合的基本面因素是否会对 Zeon Corporation（TSE:4205）当前的股价动能产生负面影响？