<p>在任何股票上你可能损失的最多（假设你不使用杠杆）是你资金的 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>帝国烟草 (ADR)</strong>（LON:IMB），其股价在五年内上涨了 102%。在过去一周，股价回落了 2.2%。</p>
<p>考虑到这一点，值得看看公司的基本面是否是长期表现的驱动因素，或者是否存在一些差异。</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>用本杰明·格雷厄姆的话说：在短期内，市场是一个投票机，但在长期内，它是一个称重机。考虑市场对一家公司的看法如何变化的一个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>在五年的股价增长期间，帝国烟草实现了每股收益（EPS）年复合增长率为 11%。在同一时期内，股价增长率为每年 15%，因此可以合理地假设市场对该公司的看法比五年前更高。这并不令人惊讶，因为其增长的业绩记录。</p>
<p>你可以在下面的图像中看到 EPS 随时间的变化（点击图表查看确切值）。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/397508-earnings-per-share-growth-1-dark-2/1765696325651?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/397508-earnings-per-share-growth-1-dark-2/1765696325651"/></p>
<p>LSE:IMB 每股收益增长 2025 年 12 月 14 日</p>
<p>查看我们关于帝国烟草收益、收入和现金流的 <strong>免费</strong> 报告可能非常值得。</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_之间的差异。股价回报仅反映股价的变化，而 TSR 则包括股息的价值（假设它们被再投资）以及任何折扣资本筹集或分拆的收益。可以说，TSR 为支付股息的股票提供了更完整的图景。实际上，帝国烟草过去五年的 TSR 为 192%，超过了前面提到的股价回报。这主要是由于其股息支付！</p>
<h2>不同的视角</h2>
<p>我们很高兴地报告，帝国烟草的股东在一年内获得了 29% 的总股东回报。这包括股息。这比过去五年的年化回报 24% 要好，暗示公司最近表现更佳。在最佳情况下，这可能暗示一些真正的业务动能，意味着现在可能是深入研究的好时机。虽然考虑市场条件对股价的不同影响是非常重要的，但还有其他因素更为重要。例如，投资风险的无处不在的阴影。<strong>我们已经识别出帝国烟草的两个警告信号</strong>，理解这些信号应该是你投资过程的一部分。</p>
<p>但请注意：<strong>帝国烟草可能不是最佳的购买股票</strong>。所以请查看这份 <strong>免费</strong> 的有趣公司列表，这些公司过去有收益增长（并且未来有进一步增长的预测）。</p>
<p><em>请注意，本文中引用的市场回报反映了目前在英国交易所交易的股票的市场加权平均回报。</em></p>
<p>国防和灾难的移动基础设施</p>
<p>下一波机器人技术不是类人型的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，随处可用。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

帝国烟草(ADR)

帝国烟草

<p>帝国烟草 (ADR)（伦敦证券交易所代码：IMB）在过去五年中实现了 192% 的总股东回报，这得益于股息和股价增长。该公司的每股收益年均增长 11%，而股价年均增长 15%，显示出市场的积极认知。最近一年的回报为 29%，表明业务势头良好。投资者应考虑市场状况和风险，同时探索其他具有增长潜力的公司</p>

<p>The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But when you pick a company that is really flourishing, you can <em>make</em> more than 100%. One great example is <strong>Imperial Brands PLC</strong> (LON:IMB) which saw its share price drive 102% higher over five years. In the last week shares have slid back 2.2%.</p>
<div class="lb-trans"><p>在任何股票上你可能损失的最多（假设你不使用杠杆）是你资金的 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>帝国烟草 (ADR)</strong>（LON:IMB），其股价在五年内上涨了 102%。在过去一周，股价回落了 2.2%。</p>
</div><p>With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.</p>
<div class="lb-trans"><p>考虑到这一点，值得看看公司的基本面是否是长期表现的驱动因素，或者是否存在一些差异。</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>To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. 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>用本杰明·格雷厄姆的话说：在短期内，市场是一个投票机，但在长期内，它是一个称重机。考虑市场对一家公司的看法如何变化的一个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 five years of share price growth, Imperial Brands achieved compound earnings per share (EPS) growth of 11% per year. This EPS growth is slower than the share price growth of 15% per year, over the same period. So it's fair to assume the market has a higher opinion of the business than it did five years ago. And that's hardly shocking given the track record of growth.</p>
<div class="lb-trans"><p>在五年的股价增长期间，帝国烟草实现了每股收益（EPS）年复合增长率为 11%。在同一时期内，股价增长率为每年 15%，因此可以合理地假设市场对该公司的看法比五年前更高。这并不令人惊讶，因为其增长的业绩记录。</p>
</div><p>You can see how EPS has changed over time in the image below (click on the chart to see the exact values).</p>
<div class="lb-trans"><p>你可以在下面的图像中看到 EPS 随时间的变化（点击图表查看确切值）。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/397508-earnings-per-share-growth-1-dark-2/1765696325651" alt="" original-src="https://images.simplywall.st/asset/chart/397508-earnings-per-share-growth-1-dark-2/1765696325651"/></p>
<p>LSE:IMB Earnings Per Share Growth December 14th 2025</p>
<div class="lb-trans"><p>LSE:IMB 每股收益增长 2025 年 12 月 14 日</p>
</div><p>It might be well worthwhile taking a look at our <strong>free</strong> report on Imperial Brands' earnings, revenue and cash flow.</p>
<div class="lb-trans"><p>查看我们关于帝国烟草收益、收入和现金流的 <strong>免费</strong> 报告可能非常值得。</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>. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Imperial Brands' TSR for the last 5 years was 192%, which exceeds the share price return mentioned earlier. 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_之间的差异。股价回报仅反映股价的变化，而 TSR 则包括股息的价值（假设它们被再投资）以及任何折扣资本筹集或分拆的收益。可以说，TSR 为支付股息的股票提供了更完整的图景。实际上，帝国烟草过去五年的 TSR 为 192%，超过了前面提到的股价回报。这主要是由于其股息支付！</p>
</div><h2>A Different Perspective</h2>
<div class="lb-trans"><h2>不同的视角</h2>
</div><p>We're pleased to report that Imperial Brands shareholders have received a total shareholder return of 29% over one year. That's including the dividend. That's better than the annualised return of 24% over half a decade, implying that the company is doing better recently. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. <strong>We've identified 2 warning signs</strong> with Imperial Brands , and understanding them should be part of your investment process.</p>
<div class="lb-trans"><p>我们很高兴地报告，帝国烟草的股东在一年内获得了 29% 的总股东回报。这包括股息。这比过去五年的年化回报 24% 要好，暗示公司最近表现更佳。在最佳情况下，这可能暗示一些真正的业务动能，意味着现在可能是深入研究的好时机。虽然考虑市场条件对股价的不同影响是非常重要的，但还有其他因素更为重要。例如，投资风险的无处不在的阴影。<strong>我们已经识别出帝国烟草的两个警告信号</strong>，理解这些信号应该是你投资过程的一部分。</p>
</div><p>But note: <strong>Imperial Brands may not be the best stock to buy</strong>. So take a peek at this <strong>free</strong> list of interesting companies with past earnings growth (and further growth forecast).</p>
<div class="lb-trans"><p>但请注意：<strong>帝国烟草可能不是最佳的购买股票</strong>。所以请查看这份 <strong>免费</strong> 的有趣公司列表，这些公司过去有收益增长（并且未来有进一步增长的预测）。</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 British 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英国交易所交易的股票的市场加权平均回报。</em></p>
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<div class="lb-trans"><p>国防和灾难的移动基础设施</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波机器人技术不是类人型的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，随处可用。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>由 CiTech 赞助</p>
</div>

五年前投资帝国烟草 (LON:IMB) 的投资者收益增长了 192%