<p>对于许多人来说，投资股市的主要目的是实现惊人的回报。多年来，我们确实见证了一些令人惊叹的收益。比如，<strong>Embraer S.A.</strong>（BVMF:EMBJ3）的股价在五年内飙升了 932%。这只是一些长期投资者所获得的巨大收益的一个例子。对于股东来说，过去三个月的 12% 涨幅也令人欣慰。任何持有该股票的人都可能乐于谈论这段丰厚的收益之旅。</p>
<p>现在值得看看公司的基本面，因为这将帮助我们判断长期股东回报是否与基础业务的表现相匹配。</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>
<p>引用巴菲特的话，‘船只将环游世界，但平地社会将蓬勃发展。市场上价格与价值之间将继续存在巨大差异……’ 一种检查市场情绪如何随时间变化的方法是观察公司股价与每股收益（EPS）之间的互动。</p>
<p>在五年的股价增长期间，Embraer 从亏损转为盈利。这种转变可以成为一个拐点，证明强劲的股价上涨是合理的，正如我们在这里所看到的。</p>
<p>下图显示了 EPS 随时间的变化（如果您点击图像，可以看到更详细的信息）。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/683719-earnings-per-share-growth-1-dark-2/1766485198109?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/683719-earnings-per-share-growth-1-dark-2/1766485198109"/></p>
<p>BOVESPA:EMBJ3 每股收益增长 2025 年 12 月 23 日</p>
<p>当然，看到 Embraer 多年来的利润增长是非常好的，但未来对股东来说更为重要。通过这份 <strong>免费</strong> 的资产负债表报告，更全面地了解 Embraer 的财务健康状况。</p>
<h2>股息情况如何？</h2>
<p>考虑任何给定股票的总股东回报以及股价回报是很重要的。总股东回报（TSR）是一种回报计算，考虑了现金股息的价值（假设收到的任何股息都被再投资）以及任何折扣融资和分拆的计算价值。因此，对于支付丰厚股息的公司，TSR 通常远高于股价回报。实际上，Embraer 过去五年的 TSR 为 942%，超过了前面提到的股价回报。显然，股息支付在这种差异中起到了重要作用！</p>
<h2>不同的视角</h2>
<p>看到 Embraer 在过去十二个月中为股东带来了 63% 的总股东回报是件好事。当然，这包括了股息。由于一年期的 TSR 优于五年期的 TSR（后者为每年 60%），这似乎表明该股票的表现最近有所改善。在最佳情况下，这可能暗示着一些真正的商业势头，这意味着现在可能是深入研究的好时机。我发现从长期来看观察股价作为商业表现的代理指标非常有趣。但要真正获得洞察，我们还需要考虑其他信息。例如，我们已经识别出 <strong>Embraer 的 2 个警告信号</strong>，您应该注意。</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</strong> 的近期内部人士购买的被低估公司名单可能正是您所需要的。</p>
<p><em>请注意，本文中引用的市场回报反映了当前在巴西交易所交易的股票的市场加权平均回报。</em></p>
<p>用于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。它是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达服务，覆盖任何地方。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

<p>Embraer S.A. (BVMF:EMBJ3) 在过去五年中实现了令人瞩目的 942% 总股东回报率（TSR），这得益于 932% 的股价上涨和可观的分红支付。公司从亏损转向盈利的转变是这一增长的关键因素。此外，Embraer 在过去十二个月中实现了 63% 的 TSR，表明其业绩有所改善。投资者被鼓励审视公司的基本面和财务健康状况，以获取更多见解</p>

<p>For many, the main point of investing in the stock market is to achieve spectacular returns. And we've seen some truly amazing gains over the years. To wit, the <strong>Embraer S.A.</strong> (BVMF:EMBJ3) share price has soared 932% over five years. And this is just one example of the epic gains achieved by some long term investors. Also pleasing for shareholders was the 12% gain in the last three months. Anyone who held for that rewarding ride would probably be keen to talk about it.</p>
<div class="lb-trans"><p>对于许多人来说，投资股市的主要目的是实现惊人的回报。多年来，我们确实见证了一些令人惊叹的收益。比如，<strong>Embraer S.A.</strong>（BVMF:EMBJ3）的股价在五年内飙升了 932%。这只是一些长期投资者所获得的巨大收益的一个例子。对于股东来说，过去三个月的 12% 涨幅也令人欣慰。任何持有该股票的人都可能乐于谈论这段丰厚的收益之旅。</p>
</div><p>Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business.</p>
<div class="lb-trans"><p>现在值得看看公司的基本面，因为这将帮助我们判断长期股东回报是否与基础业务的表现相匹配。</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><p>To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).</p>
<div class="lb-trans"><p>引用巴菲特的话，‘船只将环游世界，但平地社会将蓬勃发展。市场上价格与价值之间将继续存在巨大差异……’ 一种检查市场情绪如何随时间变化的方法是观察公司股价与每股收益（EPS）之间的互动。</p>
</div><p>During the five years of share price growth, Embraer moved from a loss to profitability. That kind of transition can be an inflection point that justifies a strong share price gain, just as we have seen here.</p>
<div class="lb-trans"><p>在五年的股价增长期间，Embraer 从亏损转为盈利。这种转变可以成为一个拐点，证明强劲的股价上涨是合理的，正如我们在这里所看到的。</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（如果您点击图像，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/683719-earnings-per-share-growth-1-dark-2/1766485198109" alt="" original-src="https://images.simplywall.st/asset/chart/683719-earnings-per-share-growth-1-dark-2/1766485198109"/></p>
<p>BOVESPA:EMBJ3 Earnings Per Share Growth December 23rd 2025</p>
<div class="lb-trans"><p>BOVESPA:EMBJ3 每股收益增长 2025 年 12 月 23 日</p>
</div><p>It is of course excellent to see how Embraer has grown profits over the years, but the future is more important for shareholders. Take a more thorough look at Embraer's financial health with this <strong>free</strong> report on its balance sheet.</p>
<div class="lb-trans"><p>当然，看到 Embraer 多年来的利润增长是非常好的，但未来对股东来说更为重要。通过这份 <strong>免费</strong> 的资产负债表报告，更全面地了解 Embraer 的财务健康状况。</p>
</div><h2>What About Dividends?</h2>
<div class="lb-trans"><h2>股息情况如何？</h2>
</div><p>It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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, Embraer's TSR for the last 5 years was 942%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!</p>
<div class="lb-trans"><p>考虑任何给定股票的总股东回报以及股价回报是很重要的。总股东回报（TSR）是一种回报计算，考虑了现金股息的价值（假设收到的任何股息都被再投资）以及任何折扣融资和分拆的计算价值。因此，对于支付丰厚股息的公司，TSR 通常远高于股价回报。实际上，Embraer 过去五年的 TSR 为 942%，超过了前面提到的股价回报。显然，股息支付在这种差异中起到了重要作用！</p>
</div><h2>A Different Perspective</h2>
<div class="lb-trans"><h2>不同的视角</h2>
</div><p>It's good to see that Embraer has rewarded shareholders with a total shareholder return of 63% in the last twelve months. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 60% per year), it would seem that the stock's performance has improved in recent times. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. For instance, we've identified <strong>2 warning signs for Embraer</strong> that you should be aware of.</p>
<div class="lb-trans"><p>看到 Embraer 在过去十二个月中为股东带来了 63% 的总股东回报是件好事。当然，这包括了股息。由于一年期的 TSR 优于五年期的 TSR（后者为每年 60%），这似乎表明该股票的表现最近有所改善。在最佳情况下，这可能暗示着一些真正的商业势头，这意味着现在可能是深入研究的好时机。我发现从长期来看观察股价作为商业表现的代理指标非常有趣。但要真正获得洞察，我们还需要考虑其他信息。例如，我们已经识别出 <strong>Embraer 的 2 个警告信号</strong>，您应该注意。</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</strong> 的近期内部人士购买的被低估公司名单可能正是您所需要的。</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 Brazilian 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巴西交易所交易的股票的市场加权平均回报。</em></p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>用于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。它是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达服务，覆盖任何地方。</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>

Embraer（BVMF:EMBJ3）的投资者会对过去五年令人艳羡的 942% 回报感到满意