<p>大多數讀者可能已經知道，Fairfax Financial Holdings（多倫多證券交易所代碼：FFH）的股票在過去三個月中顯著上漲了 12%。鑑於該公司的出色表現，我們決定更仔細地研究其財務指標，因為公司的長期財務健康通常決定市場結果。具體來説，我們決定在本文中研究 Fairfax Financial Holdings 的股本回報率（ROE）。</p>
<p>股本回報率（ROE）是衡量公司如何有效地增長其價值和管理投資者資金的指標。換句話説，它是一個盈利能力比率，衡量公司股東提供的資本的回報率。</p>
<p>人工智能即將改變醫療保健。這 20 只股票正在從早期診斷到藥物發現等各個方面進行工作。最棒的是——它們的市值都在 100 億美元以下——現在仍然有機會提前投資。</p>
<h2>ROE 是如何計算的？</h2>
<p><strong>ROE 的公式</strong> 是：</p>
<p>股本回報率 = 淨利潤（來自持續經營）÷ 股東權益</p>
<p>因此，根據上述公式，Fairfax Financial Holdings 的 ROE 為：</p>
<p>16% = 44 億美元 ÷ 280 億美元（基於截至 2025 年 3 月的過去十二個月）。</p>
<p>“回報” 是指過去十二個月的税後收益。這意味着，對於每加元 1 的股東投資，公司產生了 0.16 加元的利潤。</p>
<p>查看我們對 Fairfax Financial Holdings 的最新分析</p>
<h2>ROE 與收益增長有什麼關係？</h2>
<p>我們已經確定，ROE 作為公司未來收益的有效盈利生成指標。根據公司選擇再投資或 “保留” 的利潤比例，我們能夠評估公司未來產生利潤的能力。一般來説，其他條件相同，具有高股本回報率和利潤保留的公司，其增長率高於不具備這些特徵的公司。</p>
<h2>Fairfax Financial Holdings 的收益增長與 16% ROE 的並列比較</h2>
<p>首先，Fairfax Financial Holdings 的 ROE 看起來是可以接受的。特別是與行業平均水平 13% 相比，該公司的 ROE 顯得相當出色。可能正因如此，Fairfax Financial Holdings 在過去五年中實現了 30% 的淨收入增長。然而，這種增長也可能有其他原因，例如高收益保留或高效的管理。</p>
<p>作為下一步，我們將 Fairfax Financial Holdings 的淨收入增長與行業進行了比較，令人欣慰的是，我們發現該公司的增長高於行業平均增長 11%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/698550-past-earnings-growth-1-dark/1746283988732?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/698550-past-earnings-growth-1-dark/1746283988732"/></p>
<p>TSX:FFH 過去的收益增長 2025 年 5 月 3 日</p>
<p>對公司的估值在很大程度上與其收益增長相關。投資者應嘗試確定預期的收益增長或下降，無論是哪種情況，是否已被定價。這有助於他們判斷股票的未來是光明還是黯淡。與其他公司相比，Fairfax Financial Holdings 的估值是否合理？這三項估值指標可能會幫助您做出決定。</p>
<h2>Fairfax Financial Holdings 是否有效地再投資其利潤？</h2>
<p>Fairfax Financial Holdings 的三年中位數派息比率較低，為 8.1%，這意味着它保留了更高比例（92%）的利潤。這表明管理層正在將大部分利潤再投資於業務，這從公司所取得的增長中得到了證明。</p>
<p>此外，Fairfax Financial Holdings 已經連續至少十年支付股息。這表明公司致力於與股東分享利潤。我們最新的分析數據顯示，預計未來三年公司的派息比率將上升至 14%。因此，預計派息比率的上升解釋了公司 ROE 預計將在同一時期下降至 10% 的原因。</p>
<h2>結論</h2>
<p>總的來説，我們對 Fairfax Financial Holdings 的表現感到相當滿意。特別是看到公司在其業務上進行大量投資，並且伴隨着高回報率，這導致其收益大幅增長，這一點非常好。儘管如此，根據最新的行業分析師預測，公司的收益預計將在未來縮減。要了解更多關於公司未來收益增長預測的信息，請查看這份關於公司分析師預測的 <strong>免費</strong> 報告。</p>
<p>如果您想交易 Fairfax Financial Holdings，請在專業人士信賴的最低成本平台 Interactive Brokers 開設賬户。</p>
<p>IBKR 在 200 多個國家和地區擁有客户，並可訪問 160 個市場，允許您通過一個集成賬户交易股票、期權、期貨、外匯、債券和基金。</p>
<p>享受無隱藏費用，無賬户最低要求，外匯轉換率低至 0.03%，遠低於大多數經紀商提供的費用。</p>
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FRFHF

<p>Fairfax Financial Holdings（多倫多證券交易所代碼：FFH）在過去三個月中股價上漲了 12%，這歸因於其強勁的財務表現。該公司的股本回報率（ROE）為 16%，超過行業平均水平的 13%，並促成了過去五年 30% 的淨收入增長。Fairfax 的派息比率較低，僅為 8.1%，因此保留了 92% 的利潤用於再投資。然而，未來的收益預計將下降，預計派息比率將上升至 14%，ROE 將降至 10%。總體而言，該公司表現穩健，但面臨未來的挑戰</p>

<p>Most readers would already be aware that Fairfax Financial Holdings' (TSE:FFH) stock increased significantly by 12% over the past three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. Specifically, we decided to study Fairfax Financial Holdings' ROE in this article.</p>
<div class="lb-trans"><p>大多數讀者可能已經知道，Fairfax Financial Holdings（多倫多證券交易所代碼：FFH）的股票在過去三個月中顯著上漲了 12%。鑑於該公司的出色表現，我們決定更仔細地研究其財務指標，因為公司的長期財務健康通常決定市場結果。具體來説，我們決定在本文中研究 Fairfax Financial Holdings 的股本回報率（ROE）。</p>
</div><p>Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.</p>
<div class="lb-trans"><p>股本回報率（ROE）是衡量公司如何有效地增長其價值和管理投資者資金的指標。換句話説，它是一個盈利能力比率，衡量公司股東提供的資本的回報率。</p>
</div><p>AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early.</p>
<div class="lb-trans"><p>人工智能即將改變醫療保健。這 20 只股票正在從早期診斷到藥物發現等各個方面進行工作。最棒的是——它們的市值都在 100 億美元以下——現在仍然有機會提前投資。</p>
</div><h2>How Is ROE Calculated?</h2>
<div class="lb-trans"><h2>ROE 是如何計算的？</h2>
</div><p>The <strong>formula for ROE</strong> is:</p>
<div class="lb-trans"><p><strong>ROE 的公式</strong> 是：</p>
</div><p>Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity</p>
<div class="lb-trans"><p>股本回報率 = 淨利潤（來自持續經營）÷ 股東權益</p>
</div><p>So, based on the above formula, the ROE for Fairfax Financial Holdings is:</p>
<div class="lb-trans"><p>因此，根據上述公式，Fairfax Financial Holdings 的 ROE 為：</p>
</div><p>16% = US$4.4b ÷ US$28b (Based on the trailing twelve months to March 2025).</p>
<div class="lb-trans"><p>16% = 44 億美元 ÷ 280 億美元（基於截至 2025 年 3 月的過去十二個月）。</p>
</div><p>The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CA$1 of its shareholder's investments, the company generates a profit of CA$0.16.</p>
<div class="lb-trans"><p>“回報” 是指過去十二個月的税後收益。這意味着，對於每加元 1 的股東投資，公司產生了 0.16 加元的利潤。</p>
</div><p>See our latest analysis for Fairfax Financial Holdings</p>
<div class="lb-trans"><p>查看我們對 Fairfax Financial Holdings 的最新分析</p>
</div><h2>What Has ROE Got To Do With Earnings Growth?</h2>
<div class="lb-trans"><h2>ROE 與收益增長有什麼關係？</h2>
</div><p>We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Based on how much of its profits the company chooses to reinvest or &#34;retain&#34;, we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.</p>
<div class="lb-trans"><p>我們已經確定，ROE 作為公司未來收益的有效盈利生成指標。根據公司選擇再投資或 “保留” 的利潤比例，我們能夠評估公司未來產生利潤的能力。一般來説，其他條件相同，具有高股本回報率和利潤保留的公司，其增長率高於不具備這些特徵的公司。</p>
</div><h2>A Side By Side comparison of Fairfax Financial Holdings' Earnings Growth And 16% ROE</h2>
<div class="lb-trans"><h2>Fairfax Financial Holdings 的收益增長與 16% ROE 的並列比較</h2>
</div><p>To start with, Fairfax Financial Holdings' ROE looks acceptable. Especially when compared to the industry average of 13% the company's ROE looks pretty impressive. Probably as a result of this, Fairfax Financial Holdings was able to see an impressive net income growth of 30% over the last five years. However, there could also be other causes behind this growth. Such as - high earnings retention or an efficient management in place.</p>
<div class="lb-trans"><p>首先，Fairfax Financial Holdings 的 ROE 看起來是可以接受的。特別是與行業平均水平 13% 相比，該公司的 ROE 顯得相當出色。可能正因如此，Fairfax Financial Holdings 在過去五年中實現了 30% 的淨收入增長。然而，這種增長也可能有其他原因，例如高收益保留或高效的管理。</p>
</div><p>As a next step, we compared Fairfax Financial Holdings' net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 11%.</p>
<div class="lb-trans"><p>作為下一步，我們將 Fairfax Financial Holdings 的淨收入增長與行業進行了比較，令人欣慰的是，我們發現該公司的增長高於行業平均增長 11%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/698550-past-earnings-growth-1-dark/1746283988732" alt="" original-src="https://images.simplywall.st/asset/chart/698550-past-earnings-growth-1-dark/1746283988732"/></p>
<p>TSX:FFH Past Earnings Growth May 3rd 2025</p>
<div class="lb-trans"><p>TSX:FFH 過去的收益增長 2025 年 5 月 3 日</p>
</div><p>The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is Fairfax Financial Holdings fairly valued compared to other companies? These 3 valuation measures might help you decide.</p>
<div class="lb-trans"><p>對公司的估值在很大程度上與其收益增長相關。投資者應嘗試確定預期的收益增長或下降，無論是哪種情況，是否已被定價。這有助於他們判斷股票的未來是光明還是黯淡。與其他公司相比，Fairfax Financial Holdings 的估值是否合理？這三項估值指標可能會幫助您做出決定。</p>
</div><h2>Is Fairfax Financial Holdings Efficiently Re-investing Its Profits?</h2>
<div class="lb-trans"><h2>Fairfax Financial Holdings 是否有效地再投資其利潤？</h2>
</div><p>Fairfax Financial Holdings' ' three-year median payout ratio is on the lower side at 8.1% implying that it is retaining a higher percentage (92%) of its profits. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.</p>
<div class="lb-trans"><p>Fairfax Financial Holdings 的三年中位數派息比率較低，為 8.1%，這意味着它保留了更高比例（92%）的利潤。這表明管理層正在將大部分利潤再投資於業務，這從公司所取得的增長中得到了證明。</p>
</div><p>Besides, Fairfax Financial Holdings has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 14% over the next three years. Therefore, the expected rise in the payout ratio explains why the company's ROE is expected to decline to 10% over the same period.</p>
<div class="lb-trans"><p>此外，Fairfax Financial Holdings 已經連續至少十年支付股息。這表明公司致力於與股東分享利潤。我們最新的分析數據顯示，預計未來三年公司的派息比率將上升至 14%。因此，預計派息比率的上升解釋了公司 ROE 預計將在同一時期下降至 10% 的原因。</p>
</div><h2>Conclusion</h2>
<div class="lb-trans"><h2>結論</h2>
</div><p>In total, we are pretty happy with Fairfax Financial Holdings' performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. That being so, according to the latest industry analyst forecasts, the company's earnings are expected to shrink in the future. To know more about the company's future earnings growth forecasts take a look at this <strong>free</strong> report on analyst forecasts for the company to find out more.</p>
<div class="lb-trans"><p>總的來説，我們對 Fairfax Financial Holdings 的表現感到相當滿意。特別是看到公司在其業務上進行大量投資，並且伴隨着高回報率，這導致其收益大幅增長，這一點非常好。儘管如此，根據最新的行業分析師預測，公司的收益預計將在未來縮減。要了解更多關於公司未來收益增長預測的信息，請查看這份關於公司分析師預測的 <strong>免費</strong> 報告。</p>
</div><p>If you're looking to trade Fairfax Financial Holdings, open an account with the lowest-cost platform trusted by professionals, Interactive Brokers.</p>
<div class="lb-trans"><p>如果您想交易 Fairfax Financial Holdings，請在專業人士信賴的最低成本平台 Interactive Brokers 開設賬户。</p>
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Fairfax Financial Holdings Limited（TSE:FFH）的股票正在上漲：是否是強勁的財務狀況在引導市場？