<p>Asteria（东京证券交易所代码：3853）的股票在过去三个月上涨了 139%。考虑到股票价格通常与公司的长期财务表现相一致，我们决定更仔细地研究其财务指标，以查看它们是否在最近的价格变动中发挥了作用。在本文中，我们决定重点关注 Asteria 的股本回报率（ROE）。</p>
<p>股本回报率（ROE）是评估公司管理层如何有效利用公司资本的关键指标。简单来说，它衡量的是公司相对于股东权益的盈利能力。</p>
<p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
<h2>ROE 是如何计算的？</h2>
<p><strong>ROE 的公式是：</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，Asteria 的 ROE 为：</p>
<p>15% = JP¥968 百万 ÷ JP¥6.3 十亿（基于截至 2025 年 6 月的过去十二个月）。</p>
<p>“回报” 指的是公司在过去一年中的收益。这意味着，对于每 1 日元的股东投资，公司产生 0.15 日元的利润。</p>
<p>查看我们对 Asteria 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。根据公司再投资或 “保留” 这些利润的多少，以及其有效性，我们能够评估公司的盈利增长潜力。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>Asteria 的盈利增长与 15% ROE 的并列比较</h2>
<p>首先，Asteria 似乎拥有一个可观的 ROE。此外，该公司的 ROE 与行业平均水平 14% 相似。正如你可能预期的那样，Asteria 报告的 22% 的净收入下降有些令人惊讶。我们认为可能还有其他因素在起作用，阻碍了公司的增长。例如，公司将大量收益作为股息支付，或者面临竞争压力。</p>
<p>话虽如此，我们将 Asteria 的表现与行业进行了比较，当我们发现公司缩减了盈利，而行业在同一 5 年期间以 14% 的速度增长时，我们感到担忧。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1163897-past-earnings-growth-1-dark-2/1757912036432?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/1163897-past-earnings-growth-1-dark-2/1757912036432"/></p>
<p>东京证券交易所：3853 过去的盈利增长 2025 年 9 月 15 日</p>
<p>盈利增长是评估股票价值时需要考虑的重要指标。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，是否已被计入价格。这将帮助他们判断股票的未来是看好还是不妙。如果你想了解 Asteria 的估值，请查看其市盈率与行业的比较。</p>
<h2>Asteria 是否有效利用其利润？</h2>
<p>当我们将 Asteria 过去三年中 1.4% 的低中位数派息率（其保留 99% 的利润）拼凑在一起时，我们对缺乏增长感到困惑。当公司保留大部分收益时，通常不应该出现这种情况。因此，可能还有其他因素在起作用，可能会阻碍增长。例如，业务面临了一些逆风。</p>
<p>此外，Asteria 在至少十年的时间里一直在支付股息，这表明保持股息支付对管理层来说比业务增长更为重要，即使这可能会以牺牲业务增长为代价。</p>
<h2>总结</h2>
<p>总体来看，Asteria 似乎在其业务中有一些积极的方面。然而，低盈利增长令人担忧，尤其是考虑到公司有高回报率并且正在再投资大量利润。从表面上看，可能还有一些其他因素，未必在业务控制之内，阻碍了增长。虽然我们不会完全否定该公司，但我们会尝试评估该业务的风险，以便对公司做出更明智的决策。要了解我们为 Asteria 识别的两个风险，请访问我们的风险仪表板，免费查看。</p>

3853

<p>Asteria Corporation（东京证券交易所代码：3853）的股票在三个月内上涨了 139%，这促使对其财务状况进行分析，特别是其 15% 的股本回报率（ROE）。尽管 ROE 表现良好，Asteria 却报告净收入下降 22%，与行业 14% 的盈利增长形成对比。该公司保留了 99% 的利润，但在增长方面面临挑战，这可能与高额的股息支付和竞争压力有关。虽然 Asteria 展现出积极的一面，但对低盈利增长和影响业绩的外部因素的担忧依然存在</p>

<p>Asteria's (TSE:3853) stock is up by a considerable 139% over the past three months. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. In this article, we decided to focus on Asteria's ROE.</p>
<div class="lb-trans"><p>Asteria（东京证券交易所代码：3853）的股票在过去三个月上涨了 139%。考虑到股票价格通常与公司的长期财务表现相一致，我们决定更仔细地研究其财务指标，以查看它们是否在最近的价格变动中发挥了作用。在本文中，我们决定重点关注 Asteria 的股本回报率（ROE）。</p>
</div><p>Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.</p>
<div class="lb-trans"><p>股本回报率（ROE）是评估公司管理层如何有效利用公司资本的关键指标。简单来说，它衡量的是公司相对于股东权益的盈利能力。</p>
</div><p>This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.</p>
<div class="lb-trans"><p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</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 的公式是：</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 Asteria is:</p>
<div class="lb-trans"><p>因此，根据上述公式，Asteria 的 ROE 为：</p>
</div><p>15% = JP¥968m ÷ JP¥6.3b (Based on the trailing twelve months to June 2025).</p>
<div class="lb-trans"><p>15% = JP¥968 百万 ÷ JP¥6.3 十亿（基于截至 2025 年 6 月的过去十二个月）。</p>
</div><p>The 'return' refers to a company's earnings over the last year. So, this means that for every ¥1 of its shareholder's investments, the company generates a profit of ¥0.15.</p>
<div class="lb-trans"><p>“回报” 指的是公司在过去一年中的收益。这意味着，对于每 1 日元的股东投资，公司产生 0.15 日元的利润。</p>
</div><p>Check out our latest analysis for Asteria</p>
<div class="lb-trans"><p>查看我们对 Asteria 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. Depending on how much of these profits the company reinvests or &#34;retains&#34;, and how effectively it does so, we are then able to assess a company’s earnings growth potential. 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>到目前为止，我们了解到 ROE 衡量的是公司产生利润的效率。根据公司再投资或 “保留” 这些利润的多少，以及其有效性，我们能够评估公司的盈利增长潜力。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 Asteria's Earnings Growth And 15% ROE</h2>
<div class="lb-trans"><h2>Asteria 的盈利增长与 15% ROE 的并列比较</h2>
</div><p>To begin with, Asteria seems to have a respectable ROE. Further, the company's ROE is similar to the industry average of 14%. As you might expect, the 22% net income decline reported by Asteria is a bit of a surprise. We reckon that there could be some other factors at play here that are preventing the company's growth. Such as, the company pays out a huge portion of its earnings as dividends, or is faced with competitive pressures.</p>
<div class="lb-trans"><p>首先，Asteria 似乎拥有一个可观的 ROE。此外，该公司的 ROE 与行业平均水平 14% 相似。正如你可能预期的那样，Asteria 报告的 22% 的净收入下降有些令人惊讶。我们认为可能还有其他因素在起作用，阻碍了公司的增长。例如，公司将大量收益作为股息支付，或者面临竞争压力。</p>
</div><p>That being said, we compared Asteria's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 14% in the same 5-year period.</p>
<div class="lb-trans"><p>话虽如此，我们将 Asteria 的表现与行业进行了比较，当我们发现公司缩减了盈利，而行业在同一 5 年期间以 14% 的速度增长时，我们感到担忧。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1163897-past-earnings-growth-1-dark-2/1757912036432" alt="" original-src="https://images.simplywall.st/asset/chart/1163897-past-earnings-growth-1-dark-2/1757912036432"/></p>
<p>TSE:3853 Past Earnings Growth September 15th 2025</p>
<div class="lb-trans"><p>东京证券交易所：3853 过去的盈利增长 2025 年 9 月 15 日</p>
</div><p>Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Asteria's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.</p>
<div class="lb-trans"><p>盈利增长是评估股票价值时需要考虑的重要指标。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，是否已被计入价格。这将帮助他们判断股票的未来是看好还是不妙。如果你想了解 Asteria 的估值，请查看其市盈率与行业的比较。</p>
</div><h2>Is Asteria Making Efficient Use Of Its Profits?</h2>
<div class="lb-trans"><h2>Asteria 是否有效利用其利润？</h2>
</div><p>When we piece together Asteria's low three-year median payout ratio of 1.4% (where it is retaining 99% of its profits), calculated for the last three-year period, we are puzzled by the lack of growth. This typically shouldn't be the case when a company is retaining most of its earnings. So there might be other factors at play here which could potentially be hampering growth. For instance, the business has faced some headwinds.</p>
<div class="lb-trans"><p>当我们将 Asteria 过去三年中 1.4% 的低中位数派息率（其保留 99% 的利润）拼凑在一起时，我们对缺乏增长感到困惑。当公司保留大部分收益时，通常不应该出现这种情况。因此，可能还有其他因素在起作用，可能会阻碍增长。例如，业务面临了一些逆风。</p>
</div><p>In addition, Asteria has been paying dividends over a period of at least ten years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth.</p>
<div class="lb-trans"><p>此外，Asteria 在至少十年的时间里一直在支付股息，这表明保持股息支付对管理层来说比业务增长更为重要，即使这可能会以牺牲业务增长为代价。</p>
</div><h2>Summary</h2>
<div class="lb-trans"><h2>总结</h2>
</div><p>In total, it does look like Asteria has some positive aspects to its business. Yet, the low earnings growth is a bit concerning, especially given that the company has a high rate of return and is reinvesting ma huge portion of its profits. By the looks of it, there could be some other factors, not necessarily in control of the business, that's preventing growth. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. To know the 2 risks we have identified for Asteria visit our risks dashboard for free.</p>
<div class="lb-trans"><p>总体来看，Asteria 似乎在其业务中有一些积极的方面。然而，低盈利增长令人担忧，尤其是考虑到公司有高回报率并且正在再投资大量利润。从表面上看，可能还有一些其他因素，未必在业务控制之内，阻碍了增长。虽然我们不会完全否定该公司，但我们会尝试评估该业务的风险，以便对公司做出更明智的决策。要了解我们为 Asteria 识别的两个风险，请访问我们的风险仪表板，免费查看。</p>
</div>

Asteria Corporation（TSE:3853）的财务状况是否在近期推动其股价上涨中起到了作用？