每股收益由什么决定

每股收益（EPS）是衡量公司盈利能力的重要指标，它代表了公司普通股每股的盈利水平。每股收益的高低直接反映了公司的经营状况和未来发展前景。那么，每股收益是由什么决定的呢？

首先，公司的盈利能力是决定每股收益的关键因素。公司的盈利能力是指公司通过经营活动获取利润的能力。如果公司的盈利能力较强，那么其每股收益通常也会相应较高。

其次，公司的总股本也是影响每股收益的重要因素之一。总股本是指公司发行在外的股票总数，总股本越大，公司的每股收益相对越低。这是因为总股本越大，分摊到每股的收益就会越少。

此外，公司的财务杠杆也是影响每股收益的因素之一。财务杠杆是指公司通过债务融资来增加资本结构的灵活性。适度的财务杠杆可以提高公司的盈利能力，进而提高每股收益。但过高的财务杠杆会增加公司的财务风险，对每股收益产生负面影响。

英文对照：

What Determines Earnings Per Share?

Earnings per share (EPS) is an important metric used to measure a company's profitability, representing the level of earnings generated by each outstanding share of common stock. The level of EPS directly reflects the company's operating performance and future prospects. So, what determines earnings per share?

Firstly, a company's profitability is the key factor determining EPS. Profitability refers to the ability of the company to generate profits through its business activities. If a company has strong profitability, its EPS is typically higher.

Secondly, a company's total outstanding shares also play an important role in determining EPS. Total outstanding shares refer to the total number of shares issued and outstanding, representing the overall size of the company's capitalization. The larger the total outstanding shares, the lower the EPS, as there are more shares to divide the earnings among.

Additionally, a company's financial leverage can also impact EPS. Financial leverage refers to the use of debt financing to increase the flexibility of the capital structure. Moderate financial leverage can improve a company's profitability, thereby increasing EPS. However, excessive financial leverage can increase a company's financial risks and have a negative impact on EPS.