<p><strong>Codan Limited</strong>（ASX:CDA）的市盈率为 53.4 倍，这在澳大利亚市场上看起来可能是一个强烈的卖出信号，因为大约一半的公司市盈率低于 21 倍，甚至低于 12 倍的市盈率也相当普遍。然而，市盈率可能高是有原因的，需要进一步调查以确定这种高估是否合理。</p>
<p>我们发现 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
<p>Codan 最近的表现确实不错，其盈利增长超过了大多数其他公司。市盈率可能较高是因为投资者认为这种强劲的盈利表现将会持续。你真的希望如此，否则你就为没有特别理由的高价格买单。</p>
<p>查看我们对 Codan 的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/9935040-pe-multiple-vs-industry-1-dark-2/1764620802714?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/9935040-pe-multiple-vs-industry-1-dark-2/1764620802714"/></p>
<p>ASX:CDA 市盈率与行业比较 2025 年 12 月 1 日</p>
<p>如果你想了解分析师对未来的预测，可以查看我们对 Codan 的 <strong>免费</strong> 报告。</p>
<h2>增长是否匹配高市盈率？</h2>
<p>有一个内在的假设，即公司应该远远超越市场，才能使像 Codan 这样的市盈率被认为是合理的。</p>
<p>首先回顾一下，我们看到公司去年每股收益增长了令人印象深刻的 27%。不过，过去三年每股收益几乎没有增长，这并不理想。因此，可以公平地说，该公司的盈利增长最近一直不稳定。</p>
<p>展望未来，根据跟踪该公司的八位分析师的预测，每股收益预计在未来三年将每年增长 22%。而市场预计每年仅增长 18%，因此该公司有望实现更强的盈利结果。</p>
<p>考虑到这一点，Codan 的市盈率高于大多数其他公司是可以理解的。显然，股东不愿意抛售可能面临更繁荣未来的股票。</p>
<h2>关键要点</h2>
<p>我们认为市盈率的作用并不主要作为估值工具，而是用来衡量当前投资者情绪和未来预期。</p>
<p>正如我们所怀疑的，我们对 Codan 分析师预测的审查显示，其优越的盈利前景正在推动其高市盈率。在这种情况下，投资者认为盈利恶化的潜力不足以证明较低的市盈率。在这种情况下，很难看到股价在不久的将来大幅下跌。</p>
<p>公司的资产负债表是风险分析的另一个关键领域。我们对 Codan 的 <strong>免费</strong> 资产负债表分析，包括六个简单检查，将帮助你发现可能存在的风险。</p>
<p>当然，<strong>你也可能找到比 Codan 更好的股票</strong>。因此，你可能希望查看这份 <strong>免费</strong> 的其他公司集合，这些公司具有合理的市盈率并且盈利增长强劲。</p>

<p>Codan Limited 的高市盈率 53.4 倍表明投资者情绪强烈，因其盈利前景优越。尽管过去的盈利增长不稳定，分析师预测未来三年每股收益将年均增长 22%，超出市场预期。投资者对 Codan 的未来持乐观态度，这为其高市盈率提供了合理依据。需要分析公司的资产负债表以评估风险，同时其他市盈率合理且盈利增长强劲的股票也可能值得考虑</p>

<p><strong>Codan Limited's</strong> (ASX:CDA) price-to-earnings (or &#34;P/E&#34;) ratio of 53.4x might make it look like a strong sell right now compared to the market in Australia, where around half of the companies have P/E ratios below 21x and even P/E's below 12x are quite common. However, the P/E might be quite high for a reason and it requires further investigation to determine if it's justified.</p>
<div class="lb-trans"><p><strong>Codan Limited</strong>（ASX:CDA）的市盈率为 53.4 倍，这在澳大利亚市场上看起来可能是一个强烈的卖出信号，因为大约一半的公司市盈率低于 21 倍，甚至低于 12 倍的市盈率也相当普遍。然而，市盈率可能高是有原因的，需要进一步调查以确定这种高估是否合理。</p>
</div><p>We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</p>
<div class="lb-trans"><p>我们发现 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
</div><p>Codan certainly has been doing a good job lately as it's been growing earnings more than most other companies. The P/E is probably high because investors think this strong earnings performance will continue. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.</p>
<div class="lb-trans"><p>Codan 最近的表现确实不错，其盈利增长超过了大多数其他公司。市盈率可能较高是因为投资者认为这种强劲的盈利表现将会持续。你真的希望如此，否则你就为没有特别理由的高价格买单。</p>
</div><p>View our latest analysis for Codan</p>
<div class="lb-trans"><p>查看我们对 Codan 的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/9935040-pe-multiple-vs-industry-1-dark-2/1764620802714" alt="" original-src="https://images.simplywall.st/asset/chart/9935040-pe-multiple-vs-industry-1-dark-2/1764620802714"/></p>
<p>ASX:CDA Price to Earnings Ratio vs Industry December 1st 2025</p>
<div class="lb-trans"><p>ASX:CDA 市盈率与行业比较 2025 年 12 月 1 日</p>
</div><p>If you'd like to see what analysts are forecasting going forward, you should check out our <strong>free</strong> report on Codan.</p>
<div class="lb-trans"><p>如果你想了解分析师对未来的预测，可以查看我们对 Codan 的 <strong>免费</strong> 报告。</p>
</div><h2>Does Growth Match The High P/E?</h2>
<div class="lb-trans"><h2>增长是否匹配高市盈率？</h2>
</div><p>There's an inherent assumption that a company should far outperform the market for P/E ratios like Codan's to be considered reasonable.</p>
<div class="lb-trans"><p>有一个内在的假设，即公司应该远远超越市场，才能使像 Codan 这样的市盈率被认为是合理的。</p>
</div><p>Taking a look back first, we see that the company grew earnings per share by an impressive 27% last year. Still, EPS has barely risen at all from three years ago in total, which is not ideal. Therefore, it's fair to say that earnings growth has been inconsistent recently for the company.</p>
<div class="lb-trans"><p>首先回顾一下，我们看到公司去年每股收益增长了令人印象深刻的 27%。不过，过去三年每股收益几乎没有增长，这并不理想。因此，可以公平地说，该公司的盈利增长最近一直不稳定。</p>
</div><p>Looking ahead now, EPS is anticipated to climb by 22% per year during the coming three years according to the eight analysts following the company. With the market only predicted to deliver 18% per annum, the company is positioned for a stronger earnings result.</p>
<div class="lb-trans"><p>展望未来，根据跟踪该公司的八位分析师的预测，每股收益预计在未来三年将每年增长 22%。而市场预计每年仅增长 18%，因此该公司有望实现更强的盈利结果。</p>
</div><p>In light of this, it's understandable that Codan's P/E sits above the majority of other companies. Apparently shareholders aren't keen to offload something that is potentially eyeing a more prosperous future.</p>
<div class="lb-trans"><p>考虑到这一点，Codan 的市盈率高于大多数其他公司是可以理解的。显然，股东不愿意抛售可能面临更繁荣未来的股票。</p>
</div><h2>The Key Takeaway</h2>
<div class="lb-trans"><h2>关键要点</h2>
</div><p>We'd say the price-to-earnings ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.</p>
<div class="lb-trans"><p>我们认为市盈率的作用并不主要作为估值工具，而是用来衡量当前投资者情绪和未来预期。</p>
</div><p>As we suspected, our examination of Codan's analyst forecasts revealed that its superior earnings outlook is contributing to its high P/E. At this stage investors feel the potential for a deterioration in earnings isn't great enough to justify a lower P/E ratio. It's hard to see the share price falling strongly in the near future under these circumstances.</p>
<div class="lb-trans"><p>正如我们所怀疑的，我们对 Codan 分析师预测的审查显示，其优越的盈利前景正在推动其高市盈率。在这种情况下，投资者认为盈利恶化的潜力不足以证明较低的市盈率。在这种情况下，很难看到股价在不久的将来大幅下跌。</p>
</div><p>The company's balance sheet is another key area for risk analysis. Our <strong>free</strong> balance sheet analysis for Codan with six simple checks will allow you to discover any risks that could be an issue.</p>
<div class="lb-trans"><p>公司的资产负债表是风险分析的另一个关键领域。我们对 Codan 的 <strong>免费</strong> 资产负债表分析，包括六个简单检查，将帮助你发现可能存在的风险。</p>
</div><p>Of course, <strong>you might also be able to find a better stock than Codan</strong>. So you may wish to see this <strong>free</strong> collection of other companies that have reasonable P/E ratios and have grown earnings strongly.</p>
<div class="lb-trans"><p>当然，<strong>你也可能找到比 Codan 更好的股票</strong>。因此，你可能希望查看这份 <strong>免费</strong> 的其他公司集合，这些公司具有合理的市盈率并且盈利增长强劲。</p>
</div>

Codan Limited（ASX:CDA）在投资者中显然很受欢迎