<p><strong>Codan Limited</strong>（ASX:CDA）的市盈率為 53.4 倍，這在澳大利亞市場上看起來可能是一個強烈的賣出信號，因為大約一半的公司市盈率低於 21 倍，甚至低於 12 倍的市盈率也相當普遍。然而，市盈率可能高是有原因的，需要進一步調查以確定這種高估是否合理。</p>
<p>我們發現 21 只美國股票預計明年將支付超過 6% 的股息收益率。查看完整列表，免費獲取。</p>
<p>Codan 最近的表現確實不錯，其盈利增長超過了大多數其他公司。市盈率可能較高是因為投資者認為這種強勁的盈利表現將會持續。你真的希望如此，否則你就為沒有特別理由的高價格買單。</p>
<p>查看我們對 Codan 的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/9935040-pe-multiple-vs-industry-1-dark-2/1764620802714?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/9935040-pe-multiple-vs-industry-1-dark-2/1764620802714"/></p>
<p>ASX:CDA 市盈率與行業比較 2025 年 12 月 1 日</p>
<p>如果你想了解分析師對未來的預測，可以查看我們對 Codan 的 <strong>免費</strong> 報告。</p>
<h2>增長是否匹配高市盈率？</h2>
<p>有一個內在的假設，即公司應該遠遠超越市場，才能使像 Codan 這樣的市盈率被認為是合理的。</p>
<p>首先回顧一下，我們看到公司去年每股收益增長了令人印象深刻的 27%。不過，過去三年每股收益幾乎沒有增長，這並不理想。因此，可以公平地説，該公司的盈利增長最近一直不穩定。</p>
<p>展望未來，根據跟蹤該公司的八位分析師的預測，每股收益預計在未來三年將每年增長 22%。而市場預計每年僅增長 18%，因此該公司有望實現更強的盈利結果。</p>
<p>考慮到這一點，Codan 的市盈率高於大多數其他公司是可以理解的。顯然，股東不願意拋售可能面臨更繁榮未來的股票。</p>
<h2>關鍵要點</h2>
<p>我們認為市盈率的作用並不主要作為估值工具，而是用來衡量當前投資者情緒和未來預期。</p>
<p>正如我們所懷疑的，我們對 Codan 分析師預測的審查顯示，其優越的盈利前景正在推動其高市盈率。在這種情況下，投資者認為盈利惡化的潛力不足以證明較低的市盈率。在這種情況下，很難看到股價在不久的將來大幅下跌。</p>
<p>公司的資產負債表是風險分析的另一個關鍵領域。我們對 Codan 的 <strong>免費</strong> 資產負債表分析，包括六個簡單檢查，將幫助你發現可能存在的風險。</p>
<p>當然，<strong>你也可能找到比 Codan 更好的股票</strong>。因此，你可能希望查看這份 <strong>免費</strong> 的其他公司集合，這些公司具有合理的市盈率並且盈利增長強勁。</p>

<p>Codan Limited 的高市盈率 53.4 倍表明投資者情緒強烈，因其盈利前景優越。儘管過去的盈利增長不穩定，分析師預測未來三年每股收益將年均增長 22%，超出市場預期。投資者對 Codan 的未來持樂觀態度，這為其高市盈率提供了合理依據。需要分析公司的資產負債表以評估風險，同時其他市盈率合理且盈利增長強勁的股票也可能值得考慮</p>

<p><strong>Codan Limited's</strong> (ASX:CDA) price-to-earnings (or &#34;P/E&#34;) ratio of 53.4x might make it look like a strong sell right now compared to the market in Australia, where around half of the companies have P/E ratios below 21x and even P/E's below 12x are quite common. However, the P/E might be quite high for a reason and it requires further investigation to determine if it's justified.</p>
<div class="lb-trans"><p><strong>Codan Limited</strong>（ASX:CDA）的市盈率為 53.4 倍，這在澳大利亞市場上看起來可能是一個強烈的賣出信號，因為大約一半的公司市盈率低於 21 倍，甚至低於 12 倍的市盈率也相當普遍。然而，市盈率可能高是有原因的，需要進一步調查以確定這種高估是否合理。</p>
</div><p>We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</p>
<div class="lb-trans"><p>我們發現 21 只美國股票預計明年將支付超過 6% 的股息收益率。查看完整列表，免費獲取。</p>
</div><p>Codan certainly has been doing a good job lately as it's been growing earnings more than most other companies. The P/E is probably high because investors think this strong earnings performance will continue. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.</p>
<div class="lb-trans"><p>Codan 最近的表現確實不錯，其盈利增長超過了大多數其他公司。市盈率可能較高是因為投資者認為這種強勁的盈利表現將會持續。你真的希望如此，否則你就為沒有特別理由的高價格買單。</p>
</div><p>View our latest analysis for Codan</p>
<div class="lb-trans"><p>查看我們對 Codan 的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/9935040-pe-multiple-vs-industry-1-dark-2/1764620802714" alt="" original-src="https://images.simplywall.st/asset/chart/9935040-pe-multiple-vs-industry-1-dark-2/1764620802714"/></p>
<p>ASX:CDA Price to Earnings Ratio vs Industry December 1st 2025</p>
<div class="lb-trans"><p>ASX:CDA 市盈率與行業比較 2025 年 12 月 1 日</p>
</div><p>If you'd like to see what analysts are forecasting going forward, you should check out our <strong>free</strong> report on Codan.</p>
<div class="lb-trans"><p>如果你想了解分析師對未來的預測，可以查看我們對 Codan 的 <strong>免費</strong> 報告。</p>
</div><h2>Does Growth Match The High P/E?</h2>
<div class="lb-trans"><h2>增長是否匹配高市盈率？</h2>
</div><p>There's an inherent assumption that a company should far outperform the market for P/E ratios like Codan's to be considered reasonable.</p>
<div class="lb-trans"><p>有一個內在的假設，即公司應該遠遠超越市場，才能使像 Codan 這樣的市盈率被認為是合理的。</p>
</div><p>Taking a look back first, we see that the company grew earnings per share by an impressive 27% last year. Still, EPS has barely risen at all from three years ago in total, which is not ideal. Therefore, it's fair to say that earnings growth has been inconsistent recently for the company.</p>
<div class="lb-trans"><p>首先回顧一下，我們看到公司去年每股收益增長了令人印象深刻的 27%。不過，過去三年每股收益幾乎沒有增長，這並不理想。因此，可以公平地説，該公司的盈利增長最近一直不穩定。</p>
</div><p>Looking ahead now, EPS is anticipated to climb by 22% per year during the coming three years according to the eight analysts following the company. With the market only predicted to deliver 18% per annum, the company is positioned for a stronger earnings result.</p>
<div class="lb-trans"><p>展望未來，根據跟蹤該公司的八位分析師的預測，每股收益預計在未來三年將每年增長 22%。而市場預計每年僅增長 18%，因此該公司有望實現更強的盈利結果。</p>
</div><p>In light of this, it's understandable that Codan's P/E sits above the majority of other companies. Apparently shareholders aren't keen to offload something that is potentially eyeing a more prosperous future.</p>
<div class="lb-trans"><p>考慮到這一點，Codan 的市盈率高於大多數其他公司是可以理解的。顯然，股東不願意拋售可能面臨更繁榮未來的股票。</p>
</div><h2>The Key Takeaway</h2>
<div class="lb-trans"><h2>關鍵要點</h2>
</div><p>We'd say the price-to-earnings ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.</p>
<div class="lb-trans"><p>我們認為市盈率的作用並不主要作為估值工具，而是用來衡量當前投資者情緒和未來預期。</p>
</div><p>As we suspected, our examination of Codan's analyst forecasts revealed that its superior earnings outlook is contributing to its high P/E. At this stage investors feel the potential for a deterioration in earnings isn't great enough to justify a lower P/E ratio. It's hard to see the share price falling strongly in the near future under these circumstances.</p>
<div class="lb-trans"><p>正如我們所懷疑的，我們對 Codan 分析師預測的審查顯示，其優越的盈利前景正在推動其高市盈率。在這種情況下，投資者認為盈利惡化的潛力不足以證明較低的市盈率。在這種情況下，很難看到股價在不久的將來大幅下跌。</p>
</div><p>The company's balance sheet is another key area for risk analysis. Our <strong>free</strong> balance sheet analysis for Codan with six simple checks will allow you to discover any risks that could be an issue.</p>
<div class="lb-trans"><p>公司的資產負債表是風險分析的另一個關鍵領域。我們對 Codan 的 <strong>免費</strong> 資產負債表分析，包括六個簡單檢查，將幫助你發現可能存在的風險。</p>
</div><p>Of course, <strong>you might also be able to find a better stock than Codan</strong>. So you may wish to see this <strong>free</strong> collection of other companies that have reasonable P/E ratios and have grown earnings strongly.</p>
<div class="lb-trans"><p>當然，<strong>你也可能找到比 Codan 更好的股票</strong>。因此，你可能希望查看這份 <strong>免費</strong> 的其他公司集合，這些公司具有合理的市盈率並且盈利增長強勁。</p>
</div>

Codan Limited（ASX:CDA）在投資者中顯然很受歡迎