<p>常规读者会知道，我们在 Simply Wall St 非常喜欢股息，因此看到 <strong>赛诺菲</strong>（EPA:SAN）将在接下来的四天内开始除息交易令人兴奋。除息日期通常是在公司记录日期的前两个工作日，记录日期是公司确定哪些股东有权获得股息的日期。除息日期很重要，因为任何股票交易必须在记录日期之前结算，以便有资格获得股息。因此，您可以在 5 月 5 日之前购买赛诺菲的股票，以便获得公司将在 5 月 7 日支付的股息。</p>
<p>该公司即将支付的股息为每股 4.12 欧元，继去年 12 个月中公司向股东分配总计每股 4.12 欧元的股息之后。去年的总股息支付显示，赛诺菲在当前股价 78.32 欧元上有 5.3% 的历史收益率。股息是许多股东的重要收入来源，但公司的健康状况对于维持这些股息至关重要。因此，我们需要调查赛诺菲是否能够承担其股息，以及股息是否有可能增长。</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>股息通常来自公司收益。如果一家公司支付的股息超过其利润，那么该股息可能是不可持续的。赛诺菲支付了 102% 的收益，这超过了我们所能接受的范围，除非有减轻的情况。一个有用的次要检查是评估赛诺菲是否产生了足够的自由现金流来承担其股息。去年，股息占公司自由现金流的 70%，这在大多数支付股息的组织中是正常范围内的。</p>
<p>看到股息未能由利润覆盖令人失望，但从股息可持续性的角度来看，现金更为重要，幸运的是赛诺菲确实产生了足够的现金来资助其股息。不过，如果公司反复支付超过其利润的股息，我们会感到担忧。极少数公司能够持续支付超过其利润的股息。</p>
<p>查看我们对赛诺菲的最新分析</p>
<p>点击这里查看公司的派息比率，以及分析师对其未来股息的估计。</p>
<h2>收益和股息是否在增长？</h2>
<p>收益下降的企业在股息方面是棘手的。如果收益下降，公司被迫削减股息，投资者可能会看到他们的投资价值蒸发。赛诺菲的每股收益在过去五年中大约下降了 16%。最终，当每股收益下降时，用于支付股息的 “蛋糕” 大小也会缩小。</p>
<p>许多投资者会通过评估股息支付随时间的变化来评估公司的股息表现。在过去 10 年中，赛诺菲的股息平均每年增长约 3.8%。这很有趣，但尽管收益下降，股息增长的组合通常只能通过支付更大比例的利润来实现。赛诺菲已经支付了 102% 的利润，随着收益的下降，我们认为未来这个股息不太可能快速增长。</p>
<h2>总结</h2>
<p>赛诺菲是一个有吸引力的股息股票，还是更适合放在一边？看到公司的每股收益下滑从来都不是一件好事。更糟的是，赛诺菲支付了大部分收益和超过一半的自由现金流。正现金流是好消息，但这并不是一个好的组合。从股息的角度来看，考虑到目前的形势，我们倾向于避开赛诺菲。</p>
<p>不过，如果您仍然对赛诺菲感兴趣并想了解更多，了解该股票面临的风险将非常有用。在投资风险方面，<strong>我们已经识别出赛诺菲的 2 个警告信号</strong>，理解这些信号应该是您投资过程的一部分。</p>
<p>如果您在寻找强劲的股息支付者，我们建议 <strong>查看我们精选的顶级股息股票。</strong></p>

赛诺菲

赛诺菲集团

<p>赛诺菲（EPA:SAN）即将进行除息交易，每股派息为 4.12 欧元。然而，该公司已支付了 102% 的收益作为股息，这引发了可持续性的担忧。尽管它产生的自由现金流足以覆盖 70% 的股息，但过去五年其每股收益年均下降了 16%。这一趋势表明，未来股息可能不会快速增长，分析师因此建议潜在投资者保持谨慎</p>

<p>Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see <strong>Sanofi</strong> (EPA:SAN) is about to trade ex-dividend in the next four days. The ex-dividend date is two business days before a company's record date in most cases, which is the date on which the company determines which shareholders are entitled to receive a dividend. The ex-dividend date is important because any transaction on a stock needs to have been settled before the record date in order to be eligible for a dividend. Thus, you can purchase Sanofi's shares before the 5th of May in order to receive the dividend, which the company will pay on the 7th of May.</p>
<div class="lb-trans"><p>常规读者会知道，我们在 Simply Wall St 非常喜欢股息，因此看到 <strong>赛诺菲</strong>（EPA:SAN）将在接下来的四天内开始除息交易令人兴奋。除息日期通常是在公司记录日期的前两个工作日，记录日期是公司确定哪些股东有权获得股息的日期。除息日期很重要，因为任何股票交易必须在记录日期之前结算，以便有资格获得股息。因此，您可以在 5 月 5 日之前购买赛诺菲的股票，以便获得公司将在 5 月 7 日支付的股息。</p>
</div><p>The company's upcoming dividend is €4.12 a share, following on from the last 12 months, when the company distributed a total of €4.12 per share to shareholders. Last year's total dividend payments show that Sanofi has a trailing yield of 5.3% on the current share price of €78.32. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. So we need to investigate whether Sanofi can afford its dividend, and if the dividend could grow.</p>
<div class="lb-trans"><p>该公司即将支付的股息为每股 4.12 欧元，继去年 12 个月中公司向股东分配总计每股 4.12 欧元的股息之后。去年的总股息支付显示，赛诺菲在当前股价 78.32 欧元上有 5.3% 的历史收益率。股息是许多股东的重要收入来源，但公司的健康状况对于维持这些股息至关重要。因此，我们需要调查赛诺菲是否能够承担其股息，以及股息是否有可能增长。</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>Dividends are typically paid from company earnings. If a company pays more in dividends than it earned in profit, then the dividend could be unsustainable. Sanofi paid out 102% of its earnings, which is more than we're comfortable with, unless there are mitigating circumstances. A useful secondary check can be to evaluate whether Sanofi generated enough free cash flow to afford its dividend. Dividends consumed 70% of the company's free cash flow last year, which is within a normal range for most dividend-paying organisations.</p>
<div class="lb-trans"><p>股息通常来自公司收益。如果一家公司支付的股息超过其利润，那么该股息可能是不可持续的。赛诺菲支付了 102% 的收益，这超过了我们所能接受的范围，除非有减轻的情况。一个有用的次要检查是评估赛诺菲是否产生了足够的自由现金流来承担其股息。去年，股息占公司自由现金流的 70%，这在大多数支付股息的组织中是正常范围内的。</p>
</div><p>It's disappointing to see that the dividend was not covered by profits, but cash is more important from a dividend sustainability perspective, and Sanofi fortunately did generate enough cash to fund its dividend. Still, if the company repeatedly paid a dividend greater than its profits, we'd be concerned. Extraordinarily few companies are capable of persistently paying a dividend that is greater than their profits.</p>
<div class="lb-trans"><p>看到股息未能由利润覆盖令人失望，但从股息可持续性的角度来看，现金更为重要，幸运的是赛诺菲确实产生了足够的现金来资助其股息。不过，如果公司反复支付超过其利润的股息，我们会感到担忧。极少数公司能够持续支付超过其利润的股息。</p>
</div><p>Check out our latest analysis for Sanofi</p>
<div class="lb-trans"><p>查看我们对赛诺菲的最新分析</p>
</div><p>Click here to see the company's payout ratio, plus analyst estimates of its future dividends.</p>
<div class="lb-trans"><p>点击这里查看公司的派息比率，以及分析师对其未来股息的估计。</p>
</div><h2>Have Earnings And Dividends Been Growing?</h2>
<div class="lb-trans"><h2>收益和股息是否在增长？</h2>
</div><p>Businesses with shrinking earnings are tricky from a dividend perspective. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. Sanofi's earnings per share have fallen at approximately 16% a year over the previous five years. Ultimately, when earnings per share decline, the size of the pie from which dividends can be paid, shrinks.</p>
<div class="lb-trans"><p>收益下降的企业在股息方面是棘手的。如果收益下降，公司被迫削减股息，投资者可能会看到他们的投资价值蒸发。赛诺菲的每股收益在过去五年中大约下降了 16%。最终，当每股收益下降时，用于支付股息的 “蛋糕” 大小也会缩小。</p>
</div><p>Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. In the last 10 years, Sanofi has lifted its dividend by approximately 3.8% a year on average. That's intriguing, but the combination of growing dividends despite declining earnings can typically only be achieved by paying out a larger percentage of profits. Sanofi is already paying out 102% of its profits, and with shrinking earnings we think it's unlikely that this dividend will grow quickly in the future.</p>
<div class="lb-trans"><p>许多投资者会通过评估股息支付随时间的变化来评估公司的股息表现。在过去 10 年中，赛诺菲的股息平均每年增长约 3.8%。这很有趣，但尽管收益下降，股息增长的组合通常只能通过支付更大比例的利润来实现。赛诺菲已经支付了 102% 的利润，随着收益的下降，我们认为未来这个股息不太可能快速增长。</p>
</div><h2>To Sum It Up</h2>
<div class="lb-trans"><h2>总结</h2>
</div><p>Is Sanofi an attractive dividend stock, or better left on the shelf? It's never fun to see a company's earnings per share in retreat. Worse, Sanofi's paying out a majority of its earnings and more than half its free cash flow. Positive cash flows are good news but it's not a good combination. With the way things are shaping up from a dividend perspective, we'd be inclined to steer clear of Sanofi.</p>
<div class="lb-trans"><p>赛诺菲是一个有吸引力的股息股票，还是更适合放在一边？看到公司的每股收益下滑从来都不是一件好事。更糟的是，赛诺菲支付了大部分收益和超过一半的自由现金流。正现金流是好消息，但这并不是一个好的组合。从股息的角度来看，考虑到目前的形势，我们倾向于避开赛诺菲。</p>
</div><p>Although, if you're still interested in Sanofi and want to know more, you'll find it very useful to know what risks this stock faces. In terms of investment risks, <strong>we've identified 2 warning signs</strong> with Sanofi and understanding them should be part of your investment process.</p>
<div class="lb-trans"><p>不过，如果您仍然对赛诺菲感兴趣并想了解更多，了解该股票面临的风险将非常有用。在投资风险方面，<strong>我们已经识别出赛诺菲的 2 个警告信号</strong>，理解这些信号应该是您投资过程的一部分。</p>
</div><p>If you're in the market for strong dividend payers, we recommend <strong>checking our selection of top dividend stocks.</strong></p>
<div class="lb-trans"><p>如果您在寻找强劲的股息支付者，我们建议 <strong>查看我们精选的顶级股息股票。</strong></p>
</div>

为什么购买赛诺菲（EPA:SAN）以获取即将到来的股息可能不合适