<p>当你购买一只股票时，总是有可能它会下跌 100%。但当你选择一家真正繁荣的公司时，你可以获得超过 100% 的收益。一个很好的例子是 <strong>大冢控股 (ADR)</strong>（TSE:4578），其股价在五年内上涨了 112%。而且看到股价在过去一个季度上涨了 13% 也令人欣慰。但这一走势可能得益于市场的合理活跃（在 90 天内上涨了 7.6%）。</p>
<p>由于对大冢控股的股东来说这是一个强劲的一周，让我们来看看长期基本面的趋势。</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。查看完整列表是免费的。</p>
<p>用本杰明·格雷厄姆的话来说：在短期内，市场是一个投票机，但在长期内，它是一个称重机。通过比较每股收益（EPS）和股价随时间的变化，我们可以感受到投资者对公司的态度是如何随着时间的推移而变化的。</p>
<p>在五年的股价增长中，大冢控股实现了每股收益（EPS）年复合增长率为 26%。这一 EPS 增长高于股价年均增长 16% 的平均水平。因此可以得出结论，市场对该股票的态度变得更加谨慎。合理低的市盈率为 10.98 也表明市场的担忧。</p>
<p>下图显示了 EPS 随时间的变化情况（如果你点击图片，可以看到更详细的信息）。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/51739240-earnings-per-share-growth-1-dark-2/1764891647037?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1642" height="1040" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/51739240-earnings-per-share-growth-1-dark-2/1764891647037"/></p>
<p>TSE:4578 每股收益增长 2025 年 12 月 4 日</p>
<p>我们知道大冢控股在过去三年中改善了其底线，但未来会怎样呢？你可以在这个 <strong>免费的</strong> 互动图形中看到其资产负债表是如何随着时间的推移而增强（或削弱）的。</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）和_股价回报_之间的区别。TSR 是一种回报计算，考虑了现金股息的价值（假设任何收到的股息都被再投资）以及任何折扣融资和分拆的计算价值。因此，对于那些支付丰厚股息的公司，TSR 通常远高于股价回报。实际上，大冢控股过去 5 年的 TSR 为 135%，超过了之前提到的股价回报。因此，公司支付的股息提升了_总_股东回报。</p>
<h2>不同的视角</h2>
<p>大冢控股的股东在这一年中获得了 4.8% 的总回报。但这一回报低于市场。好的一面是，长期回报（约为每年 19%，持续了五年）看起来更好。考虑到市场对其持续的积极反应，这可能是一家值得关注的企业。长期跟踪股价表现总是很有趣。但要更好地理解大冢控股，我们需要考虑许多其他因素。例如，我们发现 <strong>大冢控股有 1 个警告信号</strong>，在投资之前你应该了解。</p>
<p>对于那些喜欢寻找 <strong>获胜投资</strong> 的人来说，这份 <strong>免费的</strong> 近期有内部人士购买的被低估公司的名单，可能正是你所需要的。</p>
<p><em>请注意，本文中引用的市场回报反映了当前在日本交易所交易的股票的市场加权平均回报。</em></p>

大冢制药(ADR)

<p>大冢控股（TSE:4578）在五年内股价上涨了 112%，总股东回报率（TSR）达到了 135%，这得益于分红。尽管年均每股收益（EPS）增长了 26%，市场依然保持谨慎，反映在低市盈率 10.98 上。最近一个季度股价上涨了 13%，受益于市场的活跃。长期回报前景乐观，但投资者应考虑其他因素，包括大冢控股的警示信号</p>

<p>When you buy a stock there is always a possibility that it could drop 100%. But when you pick a company that is really flourishing, you can <em>make</em> more than 100%. One great example is <strong>Otsuka Holdings Co., Ltd.</strong> (TSE:4578) which saw its share price drive 112% higher over five years. It's also good to see the share price up 13% over the last quarter. But this move may well have been assisted by the reasonably buoyant market (up 7.6% in 90 days).</p>
<div class="lb-trans"><p>当你购买一只股票时，总是有可能它会下跌 100%。但当你选择一家真正繁荣的公司时，你可以获得超过 100% 的收益。一个很好的例子是 <strong>大冢控股 (ADR)</strong>（TSE:4578），其股价在五年内上涨了 112%。而且看到股价在过去一个季度上涨了 13% 也令人欣慰。但这一走势可能得益于市场的合理活跃（在 90 天内上涨了 7.6%）。</p>
</div><p>Since it's been a strong week for Otsuka Holdings shareholders, let's have a look at trend of the longer term fundamentals.</p>
<div class="lb-trans"><p>由于对大冢控股的股东来说这是一个强劲的一周，让我们来看看长期基本面的趋势。</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。查看完整列表是免费的。</p>
</div><p>To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.</p>
<div class="lb-trans"><p>用本杰明·格雷厄姆的话来说：在短期内，市场是一个投票机，但在长期内，它是一个称重机。通过比较每股收益（EPS）和股价随时间的变化，我们可以感受到投资者对公司的态度是如何随着时间的推移而变化的。</p>
</div><p>During five years of share price growth, Otsuka Holdings achieved compound earnings per share (EPS) growth of 26% per year. This EPS growth is higher than the 16% average annual increase in the share price. So one could conclude that the broader market has become more cautious towards the stock. The reasonably low P/E ratio of 10.98 also suggests market apprehension.</p>
<div class="lb-trans"><p>在五年的股价增长中，大冢控股实现了每股收益（EPS）年复合增长率为 26%。这一 EPS 增长高于股价年均增长 16% 的平均水平。因此可以得出结论，市场对该股票的态度变得更加谨慎。合理低的市盈率为 10.98 也表明市场的担忧。</p>
</div><p>The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).</p>
<div class="lb-trans"><p>下图显示了 EPS 随时间的变化情况（如果你点击图片，可以看到更详细的信息）。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/51739240-earnings-per-share-growth-1-dark-2/1764891647037" alt="" original-src="https://images.simplywall.st/asset/chart/51739240-earnings-per-share-growth-1-dark-2/1764891647037"/></p>
<p>TSE:4578 Earnings Per Share Growth December 4th 2025</p>
<div class="lb-trans"><p>TSE:4578 每股收益增长 2025 年 12 月 4 日</p>
</div><p>We know that Otsuka Holdings has improved its bottom line over the last three years, but what does the future have in store? You can see how its balance sheet has strengthened (or weakened) over time in this <strong>free</strong> interactive graphic.</p>
<div class="lb-trans"><p>我们知道大冢控股在过去三年中改善了其底线，但未来会怎样呢？你可以在这个 <strong>免费的</strong> 互动图形中看到其资产负债表是如何随着时间的推移而增强（或削弱）的。</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 is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Otsuka Holdings' TSR for the last 5 years was 135%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the <em>total</em> shareholder return.</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）和_股价回报_之间的区别。TSR 是一种回报计算，考虑了现金股息的价值（假设任何收到的股息都被再投资）以及任何折扣融资和分拆的计算价值。因此，对于那些支付丰厚股息的公司，TSR 通常远高于股价回报。实际上，大冢控股过去 5 年的 TSR 为 135%，超过了之前提到的股价回报。因此，公司支付的股息提升了_总_股东回报。</p>
</div><h2>A Different Perspective</h2>
<div class="lb-trans"><h2>不同的视角</h2>
</div><p>Otsuka Holdings shareholders gained a total return of 4.8% during the year. But that return falls short of the market. On the bright side, the longer term returns (running at about 19% a year, over half a decade) look better. It may well be that this is a business worth popping on the watching, given the continuing positive reception, over time, from the market. It's always interesting to track share price performance over the longer term. But to understand Otsuka Holdings better, we need to consider many other factors. For example, we've discovered <strong>1 warning sign for Otsuka Holdings</strong> that you should be aware of before investing here.</p>
<div class="lb-trans"><p>大冢控股的股东在这一年中获得了 4.8% 的总回报。但这一回报低于市场。好的一面是，长期回报（约为每年 19%，持续了五年）看起来更好。考虑到市场对其持续的积极反应，这可能是一家值得关注的企业。长期跟踪股价表现总是很有趣。但要更好地理解大冢控股，我们需要考虑许多其他因素。例如，我们发现 <strong>大冢控股有 1 个警告信号</strong>，在投资之前你应该了解。</p>
</div><p>For those who like to find <strong>winning investments</strong> this <strong>free</strong> list of undervalued companies with recent insider purchasing, could be just the ticket.</p>
<div class="lb-trans"><p>对于那些喜欢寻找 <strong>获胜投资</strong> 的人来说，这份 <strong>免费的</strong> 近期有内部人士购买的被低估公司的名单，可能正是你所需要的。</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 Japanese 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当前在日本交易所交易的股票的市场加权平均回报。</em></p>
</div>

大冢控股（TSE:4578）的五年收益增长不及其卓越的股东回报