<p>投资者常常受到寻找 “下一个大事件” 这一理念的引导，即使这意味着购买没有任何收入，更不用说利润的 “故事股票”。不幸的是，这些高风险投资往往几乎没有回报的可能性，许多投资者为此付出了代价以吸取教训。亏损的公司就像资本的海绵——因此投资者应该谨慎，以免在不良投资上继续投入好钱。</p>
<p>如果这种类型的公司不符合你的风格，而你更喜欢那些能够产生收入甚至盈利的公司，那么你可能会对 <strong>Graham Holdings</strong>（纽约证券交易所代码：GHC）感兴趣。现在并不是说这家公司提供了最佳的投资机会，但盈利能力是商业成功的关键组成部分。</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>Graham Holdings 的每股收益增长速度有多快？</h2>
<p>在商业中，利润是成功的关键衡量标准；而股价往往反映每股收益（EPS）的表现。因此，对于许多初出茅庐的投资者来说，改善的每股收益被视为一个好兆头。令人惊叹的是，Graham Holdings 的每股收益在短短一年内从 29.59 美元飙升至 155 美元。尽管这种增长率可能无法重复，但看起来确实是一次突破性的改善。</p>
<p>仔细考虑收入增长和息税前利润（EBIT）利润率可以帮助我们了解近期利润增长的可持续性。好消息是，Graham Holdings 的收入在增长，EBIT 利润率在过去一年中提高了 15.4 个百分点，达到了 22%。这两个指标都是潜在增长的良好指标。</p>
<p>下图显示了公司底线和顶线随时间的变化。点击图表查看具体数字。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/91675-earnings-and-revenue-history-1-dark-2/1759165577560?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/91675-earnings-and-revenue-history-1-dark-2/1759165577560"/></p>
<p>纽约证券交易所：GHC 每股收益和收入历史 2025 年 9 月 29 日</p>
<p>查看我们对 Graham Holdings 的最新分析</p>
<p>虽然盈利能力推动了上行，但谨慎的投资者总是会检查资产负债表。</p>
<h2>Graham Holdings 的内部人士与所有股东的利益一致吗？</h2>
<p>由于 Graham Holdings 的市值为 52 亿美元，我们不期望内部人士持有大量股份。但我们对他们投资于公司的事实感到欣慰。值得注意的是，他们在公司中拥有可观的股份，价值 15 亿美元。这相当于公司 30% 的股份，使内部人士在权力上与其他股东保持一致。因此，这里有机会投资于一家管理层有切实激励去实现目标的公司。</p>
<p>看到内部人士投资于公司是件好事，但薪酬水平是否合理？我们对首席执行官薪酬的快速分析似乎表明是合理的。与 Graham Holdings 规模相似、市场资本在 40 亿至 120 亿美元之间的公司的首席执行官的中位数总薪酬约为 870 万美元。</p>
<p>Graham Holdings 的首席执行官在截至 2024 年 12 月的年度中仅获得了 390 万美元的总薪酬。初步印象似乎表明薪酬政策对股东是有利的。首席执行官的薪酬水平并不是投资者最重要的指标，但当薪酬适中时，这确实支持了首席执行官与普通股东之间的更好一致性。这也可以是良好治理的一个标志。</p>
<h2>Graham Holdings 值得关注吗？</h2>
<p>Graham Holdings 的收益以相当令人印象深刻的方式增长。更令人欣喜的是，内部人士拥有大量股份，而首席执行官的薪酬似乎相当合理。强劲的每股收益改善表明业务运转良好。大增长可以带来大赢家，因此形势告诉我们，Graham Holdings 值得仔细考虑。当然，仅仅因为 Graham Holdings 在增长并不意味着它被低估。如果你对估值感到好奇，可以查看其市盈率与行业的比较。</p>
<p>虽然选择没有增长收益且缺乏内部人士购买的股票可能会产生结果，但对于重视这些关键指标的投资者来说，这里有一份经过精心挑选的美国公司名单，具有良好的增长潜力和内部人士信心。</p>
<p><em>请注意，本文讨论的内部交易是指在相关司法管辖区内可报告的交易。</em></p>

格雷厄姆控股

<p>格雷厄姆控股（NYSE:GHC）展现了令人印象深刻的盈利增长，每股收益（EPS）从 29.59 美元上升至 155 美元。该公司的息税前利润（EBIT）利润率提高了 15.4 个百分点，达到了 22%，市值为 52 亿美元，内部人士持有 30% 的股份，价值 15 亿美元。首席执行官的薪酬为 390 万美元，显示出与股东的利益一致。尽管公司在增长，投资者在投资前应考虑其估值。总体而言，格雷厄姆控股似乎是一家值得关注的潜在增长公司</p>

<p>Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks' without any revenue, let alone profit. Unfortunately, these high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson. Loss making companies can act like a sponge for capital - so investors should be cautious that they're not throwing good money after bad.</p>
<div class="lb-trans"><p>投资者常常受到寻找 “下一个大事件” 这一理念的引导，即使这意味着购买没有任何收入，更不用说利润的 “故事股票”。不幸的是，这些高风险投资往往几乎没有回报的可能性，许多投资者为此付出了代价以吸取教训。亏损的公司就像资本的海绵——因此投资者应该谨慎，以免在不良投资上继续投入好钱。</p>
</div><p>If this kind of company isn't your style, you like companies that generate revenue, and even earn profits, then you may well be interested in <strong>Graham Holdings</strong> (NYSE:GHC). Now this is not to say that the company presents the best investment opportunity around, but profitability is a key component to success in business.</p>
<div class="lb-trans"><p>如果这种类型的公司不符合你的风格，而你更喜欢那些能够产生收入甚至盈利的公司，那么你可能会对 <strong>Graham Holdings</strong>（纽约证券交易所代码：GHC）感兴趣。现在并不是说这家公司提供了最佳的投资机会，但盈利能力是商业成功的关键组成部分。</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 Fast Is Graham Holdings Growing Its Earnings Per Share?</h2>
<div class="lb-trans"><h2>Graham Holdings 的每股收益增长速度有多快？</h2>
</div><p>In business, profits are a key measure of success; and share prices tend to reflect earnings per share (EPS) performance. So for many budding investors, improving EPS is considered a good sign. It is awe-striking that Graham Holdings' EPS went from US$29.59 to US$155 in just one year. Even though that growth rate may not be repeated, that looks like a breakout improvement.</p>
<div class="lb-trans"><p>在商业中，利润是成功的关键衡量标准；而股价往往反映每股收益（EPS）的表现。因此，对于许多初出茅庐的投资者来说，改善的每股收益被视为一个好兆头。令人惊叹的是，Graham Holdings 的每股收益在短短一年内从 29.59 美元飙升至 155 美元。尽管这种增长率可能无法重复，但看起来确实是一次突破性的改善。</p>
</div><p>Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. The good news is that Graham Holdings is growing revenues, and EBIT margins improved by 15.4 percentage points to 22%, over the last year. Both of which are great metrics to check off for potential growth.</p>
<div class="lb-trans"><p>仔细考虑收入增长和息税前利润（EBIT）利润率可以帮助我们了解近期利润增长的可持续性。好消息是，Graham Holdings 的收入在增长，EBIT 利润率在过去一年中提高了 15.4 个百分点，达到了 22%。这两个指标都是潜在增长的良好指标。</p>
</div><p>The chart below shows how the company's bottom and top lines have progressed over time. Click on the chart to see the exact numbers.</p>
<div class="lb-trans"><p>下图显示了公司底线和顶线随时间的变化。点击图表查看具体数字。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/91675-earnings-and-revenue-history-1-dark-2/1759165577560" alt="" original-src="https://images.simplywall.st/asset/chart/91675-earnings-and-revenue-history-1-dark-2/1759165577560"/></p>
<p>NYSE:GHC Earnings and Revenue History September 29th 2025</p>
<div class="lb-trans"><p>纽约证券交易所：GHC 每股收益和收入历史 2025 年 9 月 29 日</p>
</div><p>See our latest analysis for Graham Holdings</p>
<div class="lb-trans"><p>查看我们对 Graham Holdings 的最新分析</p>
</div><p>While profitability drives the upside, prudent investors always check the balance sheet, too.</p>
<div class="lb-trans"><p>虽然盈利能力推动了上行，但谨慎的投资者总是会检查资产负债表。</p>
</div><h2>Are Graham Holdings Insiders Aligned With All Shareholders?</h2>
<div class="lb-trans"><h2>Graham Holdings 的内部人士与所有股东的利益一致吗？</h2>
</div><p>Since Graham Holdings has a market capitalisation of US$5.2b, we wouldn't expect insiders to hold a large percentage of shares. But we are reassured by the fact they have invested in the company. Notably, they have an enviable stake in the company, worth US$1.5b. That equates to 30% of the company, making insiders powerful and aligned with other shareholders. So there is opportunity here to invest in a company whose management have tangible incentives to deliver.</p>
<div class="lb-trans"><p>由于 Graham Holdings 的市值为 52 亿美元，我们不期望内部人士持有大量股份。但我们对他们投资于公司的事实感到欣慰。值得注意的是，他们在公司中拥有可观的股份，价值 15 亿美元。这相当于公司 30% 的股份，使内部人士在权力上与其他股东保持一致。因此，这里有机会投资于一家管理层有切实激励去实现目标的公司。</p>
</div><p>It's good to see that insiders are invested in the company, but are remuneration levels reasonable? Our quick analysis into CEO remuneration would seem to indicate they are. The median total compensation for CEOs of companies similar in size to Graham Holdings, with market caps between US$4.0b and US$12b, is around US$8.7m.</p>
<div class="lb-trans"><p>看到内部人士投资于公司是件好事，但薪酬水平是否合理？我们对首席执行官薪酬的快速分析似乎表明是合理的。与 Graham Holdings 规模相似、市场资本在 40 亿至 120 亿美元之间的公司的首席执行官的中位数总薪酬约为 870 万美元。</p>
</div><p>The CEO of Graham Holdings only received US$3.9m in total compensation for the year ending December 2024. First impressions seem to indicate a compensation policy that is favourable to shareholders. CEO remuneration levels are not the most important metric for investors, but when the pay is modest, that does support enhanced alignment between the CEO and the ordinary shareholders. It can also be a sign of good governance, more generally.</p>
<div class="lb-trans"><p>Graham Holdings 的首席执行官在截至 2024 年 12 月的年度中仅获得了 390 万美元的总薪酬。初步印象似乎表明薪酬政策对股东是有利的。首席执行官的薪酬水平并不是投资者最重要的指标，但当薪酬适中时，这确实支持了首席执行官与普通股东之间的更好一致性。这也可以是良好治理的一个标志。</p>
</div><h2>Is Graham Holdings Worth Keeping An Eye On?</h2>
<div class="lb-trans"><h2>Graham Holdings 值得关注吗？</h2>
</div><p>Graham Holdings' earnings have taken off in quite an impressive fashion. The cherry on top is that insiders own a bucket-load of shares, and the CEO pay seems really quite reasonable. The strong EPS improvement suggests the businesses is humming along. Big growth can make big winners, so the writing on the wall tells us that Graham Holdings is worth considering carefully. Of course, just because Graham Holdings is growing does not mean it is undervalued. If you're wondering about the valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.</p>
<div class="lb-trans"><p>Graham Holdings 的收益以相当令人印象深刻的方式增长。更令人欣喜的是，内部人士拥有大量股份，而首席执行官的薪酬似乎相当合理。强劲的每股收益改善表明业务运转良好。大增长可以带来大赢家，因此形势告诉我们，Graham Holdings 值得仔细考虑。当然，仅仅因为 Graham Holdings 在增长并不意味着它被低估。如果你对估值感到好奇，可以查看其市盈率与行业的比较。</p>
</div><p>While opting for stocks without growing earnings and absent insider buying can yield results, for investors valuing these key metrics, here is a carefully selected list of companies in the US with promising growth potential and insider confidence.</p>
<div class="lb-trans"><p>虽然选择没有增长收益且缺乏内部人士购买的股票可能会产生结果，但对于重视这些关键指标的投资者来说，这里有一份经过精心挑选的美国公司名单，具有良好的增长潜力和内部人士信心。</p>
</div><p><em>Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.</em></p>
<div class="lb-trans"><p><em>请注意，本文讨论的内部交易是指在相关司法管辖区内可报告的交易。</em></p>
</div>

现在是否应该将格雷厄姆控股（NYSE:GHC）列入你的观察名单？