<p>通过购买指数基金，投资者可以接近市场的平均回报。但如果你选择个别股票并具备一定的能力，你可以获得更高的回报。例如，<strong>FirstService Corporation</strong>（TSE:FSV）的股价在过去三年上涨了 79%，明显超过了约 49% 的市场回报（不包括股息）。另一方面，最近的回报并不是很好，股东的回报仅为 14%，包括股息。</p>
<p>所以让我们调查一下，看看公司的长期表现是否与其基础业务的进展相符。</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>
<p>虽然市场是一个强大的定价机制，但股价反映的是投资者情绪，而不仅仅是基础业务表现。考虑市场对公司看法变化的一种不完美但简单的方法是比较每股收益（EPS）的变化与股价的变动。</p>
<p>在三年的股价增长期间，FirstService 实现了每股收益年复合增长率为 3.1%。这个 EPS 增长低于 21% 的股价年均增长。这表明市场对该股票的乐观情绪在过去几年的进展之后有所增强。投资者在经历几年的稳健进展后，常常会对一家公司产生热情。这种乐观情绪也反映在相对慷慨的市盈率 64.73 上。</p>
<p>你可以在下面看到 EPS 随时间的变化（点击图片可以发现确切的数值）。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/284804601-earnings-per-share-growth-1-dark-2/1758462543829?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/284804601-earnings-per-share-growth-1-dark-2/1758462543829"/></p>
<p>TSX:FSV 每股收益增长 2025 年 9 月 21 日</p>
<p>我们知道 FirstService 最近改善了其底线，但它的收入会增长吗？你可以查看这份 <strong>免费</strong> 报告，了解分析师的收入预测。</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_之间的区别。TSR 包含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。可以公平地说，TSR 为支付股息的股票提供了更完整的图景。在 FirstService 的情况下，过去三年的 TSR 为 82%。这超过了我们之前提到的股价回报。这在很大程度上是由于其股息支付！</p>
<h2>不同的视角</h2>
<p>FirstService 在过去十二个月提供了 14% 的 TSR。不幸的是，这低于市场回报。好的一面是，这仍然是一个收益，实际上比过去五年的平均回报 11% 要好。这表明公司可能在逐渐改善。长期跟踪股价表现总是很有趣。但要更好地理解 FirstService，我们需要考虑许多其他因素。例如，考虑风险。每家公司都有风险，我们发现了 <strong>FirstService 的两个警告信号</strong>，你应该了解。</p>
<p>如果我们看到一些大额内部购买，我们会更喜欢 FirstService。在我们等待的同时，查看这份 <strong>免费</strong> 的被低估股票（大多数是小盘股）名单，这些股票最近有相当大的内部购买。</p>
<p><em>请注意，本文中引用的市场回报反映了目前在加拿大交易所交易的股票的市场加权平均回报。</em></p>

FirstService公司

<p>FirstService 公司（TSE:FSV）在过去三年为股东提供了 22% 的年复合增长率，股价上涨了 79%，超越了市场 49% 的回报。然而，近期回报已放缓至 14%。公司的每股收益年增长率为 3.1%，与股价 21% 的上涨形成对比，显示出市场的乐观情绪。三年的总股东回报率（TSR）为 82%，受股息推动。尽管去年 TSR 为 14%，但仍低于市场平均水平，暗示有改善的潜力</p>

<p>By buying an index fund, investors can approximate the average market return. But if you choose individual stocks with prowess, you can make superior returns. For example, the <strong>FirstService Corporation</strong> (TSE:FSV) share price is up 79% in the last three years, clearly besting the market return of around 49% (not including dividends). On the other hand, the returns haven't been quite so good recently, with shareholders up just 14%, including dividends.</p>
<div class="lb-trans"><p>通过购买指数基金，投资者可以接近市场的平均回报。但如果你选择个别股票并具备一定的能力，你可以获得更高的回报。例如，<strong>FirstService Corporation</strong>（TSE:FSV）的股价在过去三年上涨了 79%，明显超过了约 49% 的市场回报（不包括股息）。另一方面，最近的回报并不是很好，股东的回报仅为 14%，包括股息。</p>
</div><p>So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress.</p>
<div class="lb-trans"><p>所以让我们调查一下，看看公司的长期表现是否与其基础业务的进展相符。</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><p>While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.</p>
<div class="lb-trans"><p>虽然市场是一个强大的定价机制，但股价反映的是投资者情绪，而不仅仅是基础业务表现。考虑市场对公司看法变化的一种不完美但简单的方法是比较每股收益（EPS）的变化与股价的变动。</p>
</div><p>During three years of share price growth, FirstService achieved compound earnings per share growth of 3.1% per year. This EPS growth is lower than the 21% average annual increase in the share price. This indicates that the market is feeling more optimistic on the stock, after the last few years of progress. It is quite common to see investors become enamoured with a business, after a few years of solid progress. This optimism is also reflected in the fairly generous P/E ratio of 64.73.</p>
<div class="lb-trans"><p>在三年的股价增长期间，FirstService 实现了每股收益年复合增长率为 3.1%。这个 EPS 增长低于 21% 的股价年均增长。这表明市场对该股票的乐观情绪在过去几年的进展之后有所增强。投资者在经历几年的稳健进展后，常常会对一家公司产生热情。这种乐观情绪也反映在相对慷慨的市盈率 64.73 上。</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>你可以在下面看到 EPS 随时间的变化（点击图片可以发现确切的数值）。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/284804601-earnings-per-share-growth-1-dark-2/1758462543829" alt="" original-src="https://images.simplywall.st/asset/chart/284804601-earnings-per-share-growth-1-dark-2/1758462543829"/></p>
<p>TSX:FSV Earnings Per Share Growth September 21st 2025</p>
<div class="lb-trans"><p>TSX:FSV 每股收益增长 2025 年 9 月 21 日</p>
</div><p>We know that FirstService has improved its bottom line lately, but is it going to grow revenue? You could check out this <strong>free</strong> report showing analyst revenue forecasts.</p>
<div class="lb-trans"><p>我们知道 FirstService 最近改善了其底线，但它的收入会增长吗？你可以查看这份 <strong>免费</strong> 报告，了解分析师的收入预测。</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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of FirstService, it has a TSR of 82% for the last 3 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!</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_之间的区别。TSR 包含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。可以公平地说，TSR 为支付股息的股票提供了更完整的图景。在 FirstService 的情况下，过去三年的 TSR 为 82%。这超过了我们之前提到的股价回报。这在很大程度上是由于其股息支付！</p>
</div><h2>A Different Perspective</h2>
<div class="lb-trans"><h2>不同的视角</h2>
</div><p>FirstService provided a TSR of 14% over the last twelve months. Unfortunately this falls short of the market return. On the bright side, that's still a gain, and it's actually better than the average return of 11% over half a decade This suggests the company might be improving over time. It's always interesting to track share price performance over the longer term. But to understand FirstService better, we need to consider many other factors. Consider risks, for instance. Every company has them, and we've spotted <strong>2 warning signs for FirstService</strong> you should know about.</p>
<div class="lb-trans"><p>FirstService 在过去十二个月提供了 14% 的 TSR。不幸的是，这低于市场回报。好的一面是，这仍然是一个收益，实际上比过去五年的平均回报 11% 要好。这表明公司可能在逐渐改善。长期跟踪股价表现总是很有趣。但要更好地理解 FirstService，我们需要考虑许多其他因素。例如，考虑风险。每家公司都有风险，我们发现了 <strong>FirstService 的两个警告信号</strong>，你应该了解。</p>
</div><p>We will like FirstService better if we see some big insider buys. While we wait, check out this <strong>free</strong> list of undervalued stocks (mostly small caps) with considerable, recent, insider buying.</p>
<div class="lb-trans"><p>如果我们看到一些大额内部购买，我们会更喜欢 FirstService。在我们等待的同时，查看这份 <strong>免费</strong> 的被低估股票（大多数是小盘股）名单，这些股票最近有相当大的内部购买。</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 Canadian 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加拿大交易所交易的股票的市场加权平均回报。</em></p>
</div>

FirstService (TSE:FSV) 的股东在过去三年中实现了 22% 的年复合增长率