<p>以 24.8 倍的市盈率（&#34;P/E&#34;）來看，<strong>大冢製藥 (ADR)</strong>（TSE:4768）目前可能發出了非常看跌的信號，因為日本幾乎一半的公司市盈率低於 13 倍，甚至低於 9 倍的市盈率也並不罕見。不過，僅僅將市盈率表面化是不明智的，因為可能有解釋説明其如此高的原因。</p>
<p>由於近期盈利增長優於大多數其他公司，大冢製藥的表現相對較好。似乎許多人預計強勁的盈利表現將持續，這提高了市盈率。如果不是這樣，現有股東可能會對股價的可持續性感到有些緊張。</p>
<p>查看我們對大冢製藥的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/5871294-pe-multiple-vs-industry-1-dark/1740372260901?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/5871294-pe-multiple-vs-industry-1-dark/1740372260901"/></p>
<p>TSE:4768 市盈率與行業比較 2025 年 2 月 24 日</p>
<p>想知道分析師如何看待大冢製藥的未來與行業的對比嗎？那麼，我們的 <strong>免費</strong> 報告是一個很好的起點。</p>
<h2>增長指標告訴我們關於高市盈率的什麼？</h2>
<p>為了證明其市盈率的合理性，大冢製藥需要實現遠超市場的卓越增長。</p>
<p>回顧過去一年，公司底線實現了 13% 的不錯增長。最近三年期間，EPS 也整體上升了 34%，在一定程度上得益於其短期表現。因此，我們可以確認公司在這段時間內在盈利增長方面做得很好。</p>
<p>展望未來，覆蓋該公司的十二位分析師的估計顯示，未來三年每年的盈利預計將增長 7.0%。而市場預計每年將實現 9.2% 的增長，公司面臨的盈利結果可能較弱。</p>
<p>根據這些信息，我們發現大冢製藥的市盈率高於市場，這讓人感到擔憂。似乎大多數投資者希望公司的商業前景能有所好轉，但分析師羣體對此並不太有信心。如果市盈率降至與增長前景更為一致的水平，這些股東很可能會面臨未來的失望。</p>
<h2>最後的總結</h2>
<p>僅僅使用市盈率來判斷是否應該賣出你的股票並不明智，但它可以作為公司未來前景的實用指南。</p>
<p>我們對大冢製藥的分析師預測的審查顯示，其較差的盈利前景並沒有像我們預期的那樣對其高市盈率產生太大影響。現在，我們對高市盈率越來越感到不安，因為預測的未來盈利不太可能長期支持如此積極的情緒。除非這些條件顯著改善，否則很難接受這些價格是合理的。</p>
<p>還值得注意的是，我們發現 <strong>大冢製藥有 2 個警告信號</strong>（其中 1 個讓我們感到不安！），你需要考慮這些因素。</p>
<p>如果這些 <strong>風險讓你重新考慮對大冢製藥的看法</strong>，請查看我們高質量股票的互動列表，以瞭解還有什麼其他選擇。</p>

4768

大塚制藥(ADR)

<p>大冢製藥 (ADR)（東京證券交易所代碼：4768）面臨投資者的擔憂，因為其市盈率高達 24.8 倍，顯著高於市場平均水平。儘管去年盈利增長了 13%，且三年內每股收益增長了 34%，但分析師預測未來三年僅有 7% 的增長，低於市場的 9.2%。這引發了對其股價可持續性的質疑，因為高市盈率可能無法通過未來的盈利來證明。投資者應保持謹慎，因為當前的樂觀情緒可能會導致失望，如果盈利未能達到預期</p>

<p>With a price-to-earnings (or &#34;P/E&#34;) ratio of 24.8x <strong>Otsuka Corporation</strong> (TSE:4768) may be sending very bearish signals at the moment, given that almost half of all companies in Japan have P/E ratios under 13x and even P/E's lower than 9x are not unusual. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so lofty.</p>
<div class="lb-trans"><p>以 24.8 倍的市盈率（&#34;P/E&#34;）來看，<strong>大冢製藥 (ADR)</strong>（TSE:4768）目前可能發出了非常看跌的信號，因為日本幾乎一半的公司市盈率低於 13 倍，甚至低於 9 倍的市盈率也並不罕見。不過，僅僅將市盈率表面化是不明智的，因為可能有解釋説明其如此高的原因。</p>
</div><p>With earnings growth that's superior to most other companies of late, Otsuka has been doing relatively well. It seems that many are expecting the strong earnings performance to persist, which has raised the P/E. If not, then existing shareholders might be a little nervous about the viability of the share price.</p>
<div class="lb-trans"><p>由於近期盈利增長優於大多數其他公司，大冢製藥的表現相對較好。似乎許多人預計強勁的盈利表現將持續，這提高了市盈率。如果不是這樣，現有股東可能會對股價的可持續性感到有些緊張。</p>
</div><p>See our latest analysis for Otsuka</p>
<div class="lb-trans"><p>查看我們對大冢製藥的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/5871294-pe-multiple-vs-industry-1-dark/1740372260901" alt="" original-src="https://images.simplywall.st/asset/chart/5871294-pe-multiple-vs-industry-1-dark/1740372260901"/></p>
<p>TSE:4768 Price to Earnings Ratio vs Industry February 24th 2025</p>
<div class="lb-trans"><p>TSE:4768 市盈率與行業比較 2025 年 2 月 24 日</p>
</div><p>Keen to find out how analysts think Otsuka's future stacks up against the industry? In that case, our <strong>free</strong> report is a great place to start.</p>
<div class="lb-trans"><p>想知道分析師如何看待大冢製藥的未來與行業的對比嗎？那麼，我們的 <strong>免費</strong> 報告是一個很好的起點。</p>
</div><h2>What Are Growth Metrics Telling Us About The High P/E?</h2>
<div class="lb-trans"><h2>增長指標告訴我們關於高市盈率的什麼？</h2>
</div><p>In order to justify its P/E ratio, Otsuka would need to produce outstanding growth well in excess of the market.</p>
<div class="lb-trans"><p>為了證明其市盈率的合理性，大冢製藥需要實現遠超市場的卓越增長。</p>
</div><p>Retrospectively, the last year delivered a decent 13% gain to the company's bottom line. The latest three year period has also seen an excellent 34% overall rise in EPS, aided somewhat by its short-term performance. So we can start by confirming that the company has done a great job of growing earnings over that time.</p>
<div class="lb-trans"><p>回顧過去一年，公司底線實現了 13% 的不錯增長。最近三年期間，EPS 也整體上升了 34%，在一定程度上得益於其短期表現。因此，我們可以確認公司在這段時間內在盈利增長方面做得很好。</p>
</div><p>Shifting to the future, estimates from the twelve analysts covering the company suggest earnings should grow by 7.0% each year over the next three years. With the market predicted to deliver 9.2% growth per year, the company is positioned for a weaker earnings result.</p>
<div class="lb-trans"><p>展望未來，覆蓋該公司的十二位分析師的估計顯示，未來三年每年的盈利預計將增長 7.0%。而市場預計每年將實現 9.2% 的增長，公司面臨的盈利結果可能較弱。</p>
</div><p>With this information, we find it concerning that Otsuka is trading at a P/E higher than the market. It seems most investors are hoping for a turnaround in the company's business prospects, but the analyst cohort is not so confident this will happen. There's a good chance these shareholders are setting themselves up for future disappointment if the P/E falls to levels more in line with the growth outlook.</p>
<div class="lb-trans"><p>根據這些信息，我們發現大冢製藥的市盈率高於市場，這讓人感到擔憂。似乎大多數投資者希望公司的商業前景能有所好轉，但分析師羣體對此並不太有信心。如果市盈率降至與增長前景更為一致的水平，這些股東很可能會面臨未來的失望。</p>
</div><h2>The Final Word</h2>
<div class="lb-trans"><h2>最後的總結</h2>
</div><p>Using the price-to-earnings ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.</p>
<div class="lb-trans"><p>僅僅使用市盈率來判斷是否應該賣出你的股票並不明智，但它可以作為公司未來前景的實用指南。</p>
</div><p>Our examination of Otsuka's analyst forecasts revealed that its inferior earnings outlook isn't impacting its high P/E anywhere near as much as we would have predicted. Right now we are increasingly uncomfortable with the high P/E as the predicted future earnings aren't likely to support such positive sentiment for long. Unless these conditions improve markedly, it's very challenging to accept these prices as being reasonable.</p>
<div class="lb-trans"><p>我們對大冢製藥的分析師預測的審查顯示，其較差的盈利前景並沒有像我們預期的那樣對其高市盈率產生太大影響。現在，我們對高市盈率越來越感到不安，因為預測的未來盈利不太可能長期支持如此積極的情緒。除非這些條件顯著改善，否則很難接受這些價格是合理的。</p>
</div><p>It is also worth noting that we have found <strong>2 warning signs for Otsuka</strong> (1 doesn't sit too well with us!) that you need to take into consideration.</p>
<div class="lb-trans"><p>還值得注意的是，我們發現 <strong>大冢製藥有 2 個警告信號</strong>（其中 1 個讓我們感到不安！），你需要考慮這些因素。</p>
</div><p>If these <strong>risks are making you reconsider your opinion on Otsuka</strong>, explore our interactive list of high quality stocks to get an idea of what else is out there.</p>
<div class="lb-trans"><p>如果這些 <strong>風險讓你重新考慮對大冢製藥的看法</strong>，請查看我們高質量股票的互動列表，以瞭解還有什麼其他選擇。</p>
</div>

大冢公司（TSE:4768）因定價過高而面臨投資者歡迎度的威脅