<p>選股的主要目標是找到能夠超越市場的股票。但即使是最優秀的選股者，也只能在某些選擇中獲勝。此時，一些股東可能會質疑他們對 <strong>象印株式會社</strong>（TSE:7965）的投資，因為在過去五年中，股價下跌了 25%。此外，股價在過去一週也下跌了 9.1%。</p>
<p>由於象印在過去 7 天內損失了 110 億日元的市值，讓我們看看長期的下滑是否是由公司經濟狀況驅動的。</p>
<p>請查看我們對象印的最新分析。</p>
<p>用本傑明·格雷厄姆的話來説：短期內市場是一個投票機，但長期來看它是一個稱重機。評估公司情緒變化的一個有缺陷但合理的方法是將每股收益（EPS）與股價進行比較。</p>
<p>在股價下滑的這五年不幸期間，象印的每股收益（EPS）實際上每年提高了 10%。考慮到股價的反應，人們可能會懷疑在此期間 EPS 是否是評估公司表現的良好指標（可能是由於一次性損失或收益）。或者，過去的增長預期可能是不切實際的。</p>
<p>由於 EPS 增長率與股價增長之間的明顯對比，我們傾向於尋找其他指標來理解市場對該股票情緒的變化。</p>
<p>與股價相反，收入在五年期間實際上每年增長了 3.0%。對收入和收益的更詳細檢查可能會解釋股價低迷的原因；這可能是一個機會。</p>
<p>您可以在下面看到收益和收入隨時間的變化（通過點擊圖片發現確切的數值）。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/5503809-earnings-and-revenue-growth-1-dark/1736725587571?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/5503809-earnings-and-revenue-growth-1-dark/1736725587571"/></p>
<p>TSE:7965 收益和收入增長 2025 年 1 月 12 日</p>
<p>我們知道象印最近改善了其底線，但未來會怎樣呢？因此，我們建議查看這份 <strong>免費的</strong> 報告，展示共識預測。</p>
<h2>股息情況如何？</h2>
<p>除了衡量股價回報外，投資者還應考慮總股東回報（TSR）。股價回報僅反映股價的變化，而 TSR 則包括股息的價值（假設它們被再投資）以及任何折扣融資或分拆的收益。因此，對於支付豐厚股息的公司，TSR 通常遠高於股價回報。在象印的情況下，過去 5 年的 TSR 為-17%。這超過了我們之前提到的股價回報。這主要是由於其股息支付所致！</p>
<h2>不同的視角</h2>
<p>象印的股東在過去十二個月內獲得了 9.9% 的回報（即使包括股息），這與整體市場回報相差不遠。從積極的角度來看，這一增長令人滿意，確實超過了在過去五年中經歷的年化 TSR 損失 3%。雖然 “逆轉很少發生”，但象印仍有一些積極的跡象。長期跟蹤股價表現總是很有趣。但要更好地理解象印，我們需要考慮許多其他因素。例如，考慮風險。每家公司都有風險，我們發現了您應該瞭解的 <strong>象印的 3 個警告信號</strong>。</p>
<p>如果您更願意查看另一家公司——一家財務狀況可能更優越的公司——那麼不要錯過這份 <strong>免費的</strong> 公司名單，這些公司已經證明它們能夠增長收益。</p>
<p><em>請注意，本文中引用的市場回報反映了目前在日本交易所交易的股票的市場加權平均回報。</em></p>

7965

<p>象印株式會社（TSE:7965）在過去五年中股價下降了 25%，儘管每股收益（EPS）年均增長 10%。最近，股價下跌了 9.1%，導致五年總股東回報率（TSR）為-17%，主要是由於股息支付。然而，股東在過去一年中獲得了 9.9% 的回報，與市場平均水平相近。分析師建議查看其他指標，以瞭解市場情緒和公司潛在機會</p>

<p>The main aim of stock picking is to find the market-beating stocks. But even the best stock picker will only win with <em>some</em> selections. At this point some shareholders may be questioning their investment in <strong>Zojirushi Corporation</strong> (TSE:7965), since the last five years saw the share price fall 25%. On top of that, the share price is down 9.1% in the last week.</p>
<div class="lb-trans"><p>選股的主要目標是找到能夠超越市場的股票。但即使是最優秀的選股者，也只能在某些選擇中獲勝。此時，一些股東可能會質疑他們對 <strong>象印株式會社</strong>（TSE:7965）的投資，因為在過去五年中，股價下跌了 25%。此外，股價在過去一週也下跌了 9.1%。</p>
</div><p>Since Zojirushi has shed JP¥11b from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.</p>
<div class="lb-trans"><p>由於象印在過去 7 天內損失了 110 億日元的市值，讓我們看看長期的下滑是否是由公司經濟狀況驅動的。</p>
</div><p>See our latest analysis for Zojirushi</p>
<div class="lb-trans"><p>請查看我們對象印的最新分析。</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 flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.</p>
<div class="lb-trans"><p>用本傑明·格雷厄姆的話來説：短期內市場是一個投票機，但長期來看它是一個稱重機。評估公司情緒變化的一個有缺陷但合理的方法是將每股收益（EPS）與股價進行比較。</p>
</div><p>During the unfortunate half decade during which the share price slipped, Zojirushi actually saw its earnings per share (EPS) improve by 10% per year. Given the share price reaction, one might suspect that EPS is not a good guide to the business performance during the period (perhaps due to a one-off loss or gain). Alternatively, growth expectations may have been unreasonable in the past.</p>
<div class="lb-trans"><p>在股價下滑的這五年不幸期間，象印的每股收益（EPS）實際上每年提高了 10%。考慮到股價的反應，人們可能會懷疑在此期間 EPS 是否是評估公司表現的良好指標（可能是由於一次性損失或收益）。或者，過去的增長預期可能是不切實際的。</p>
</div><p>Because of the sharp contrast between the EPS growth rate and the share price growth, we're inclined to look to other metrics to understand the changing market sentiment around the stock.</p>
<div class="lb-trans"><p>由於 EPS 增長率與股價增長之間的明顯對比，我們傾向於尋找其他指標來理解市場對該股票情緒的變化。</p>
</div><p>In contrast to the share price, revenue has actually increased by 3.0% a year in the five year period. A more detailed examination of the revenue and earnings may or may not explain why the share price languishes; there could be an opportunity.</p>
<div class="lb-trans"><p>與股價相反，收入在五年期間實際上每年增長了 3.0%。對收入和收益的更詳細檢查可能會解釋股價低迷的原因；這可能是一個機會。</p>
</div><p>You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).</p>
<div class="lb-trans"><p>您可以在下面看到收益和收入隨時間的變化（通過點擊圖片發現確切的數值）。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/5503809-earnings-and-revenue-growth-1-dark/1736725587571" alt="" original-src="https://images.simplywall.st/asset/chart/5503809-earnings-and-revenue-growth-1-dark/1736725587571"/></p>
<p>TSE:7965 Earnings and Revenue Growth January 12th 2025</p>
<div class="lb-trans"><p>TSE:7965 收益和收入增長 2025 年 1 月 12 日</p>
</div><p>We know that Zojirushi has improved its bottom line lately, but what does the future have in store? So we recommend checking out this <strong>free</strong> report showing consensus forecasts</p>
<div class="lb-trans"><p>我們知道象印最近改善了其底線，但未來會怎樣呢？因此，我們建議查看這份 <strong>免費的</strong> 報告，展示共識預測。</p>
</div><h2>What About Dividends?</h2>
<div class="lb-trans"><h2>股息情況如何？</h2>
</div><p>As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Zojirushi, it has a TSR of -17% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!</p>
<div class="lb-trans"><p>除了衡量股價回報外，投資者還應考慮總股東回報（TSR）。股價回報僅反映股價的變化，而 TSR 則包括股息的價值（假設它們被再投資）以及任何折扣融資或分拆的收益。因此，對於支付豐厚股息的公司，TSR 通常遠高於股價回報。在象印的情況下，過去 5 年的 TSR 為-17%。這超過了我們之前提到的股價回報。這主要是由於其股息支付所致！</p>
</div><h2>A Different Perspective</h2>
<div class="lb-trans"><h2>不同的視角</h2>
</div><p>Zojirushi shareholders have received returns of 9.9% over twelve months (even including dividends), which isn't far from the general market return. To take a positive view, the gain is pleasing, and it sure beats annualized TSR loss of 3%, which was endured over half a decade. While 'turnarounds seldom turn' there are green shoots for Zojirushi. It's always interesting to track share price performance over the longer term. But to understand Zojirushi better, we need to consider many other factors. Consider risks, for instance. Every company has them, and we've spotted <strong>3 warning signs for Zojirushi</strong> you should know about.</p>
<div class="lb-trans"><p>象印的股東在過去十二個月內獲得了 9.9% 的回報（即使包括股息），這與整體市場回報相差不遠。從積極的角度來看，這一增長令人滿意，確實超過了在過去五年中經歷的年化 TSR 損失 3%。雖然 “逆轉很少發生”，但象印仍有一些積極的跡象。長期跟蹤股價表現總是很有趣。但要更好地理解象印，我們需要考慮許多其他因素。例如，考慮風險。每家公司都有風險，我們發現了您應該瞭解的 <strong>象印的 3 個警告信號</strong>。</p>
</div><p>If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this <strong>free</strong> list of companies that have proven they can grow earnings.</p>
<div class="lb-trans"><p>如果您更願意查看另一家公司——一家財務狀況可能更優越的公司——那麼不要錯過這份 <strong>免費的</strong> 公司名單，這些公司已經證明它們能夠增長收益。</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>請注意，本文中引用的市場回報反映了目前在日本交易所交易的股票的市場加權平均回報。</em></p>
</div>

在過去五年中，象印（TSE:7965）的 2.0% 收益增長並未為股東帶來收益