<h2>考虑购买开市客股票吗？你需要知道这些</h2>
<p>正在考虑是买入、卖出还是仅仅持有开市客股票？你并不孤单。即使是经验丰富的投资者也在重新审视这家零售巨头，因为该股票在最近的波动中表现出色，并且长期收益令人瞩目。毕竟，这是一家拥有忠实会员基础和强大商业模式的公司，过去一年回报接近 9%，而在过去五年中价值几乎翻了三倍。</p>
<p>但最近发生了什么？该股票在过去一周下跌了约 1%，反映出市场对消费者支出和通货膨胀的担忧。然而，在过去一个月中，开市客的股价上涨了超过 2%，而截至 2024 年，目前股价上涨超过 5%，表现优于许多零售同行。关于强劲的会员续费和稳定的收入增长的最新消息，继续突显出投资者对开市客的认可，而偶尔的下跌似乎反映的是短期市场的紧张情绪，而非基本面的弱点。最近收盘价为$958.54，分析师仍然认为目标价远高于当前水平，乐观情绪依然存在。</p>
<p>那么当前价格与开市客的真实价值相比如何？通过一些流行的估值指标来看，该公司的价值评分为 0 分（满分 6 分），这表明根据这些传统检查，它似乎并不被低估。不过，别急着停止阅读。接下来，我们将深入探讨分析师用来评估开市客的不同方法，以及为什么最佳方法可能并不是你所预期的。</p>
<p>开市客在过去一年中实现了 9.6% 的回报。看看这与消费者零售行业的其他公司相比如何。</p>
<h3>方法一：开市客的现金流</h3>
<p>折现现金流（DCF）模型是一种常见的估值工具，通过将预期的未来现金流折现回今天的美元来估算企业的价值。对于开市客，分析师使用 “二阶段自由现金流到股权” 方法来预测该公司在未来十年的表现。</p>
<p>目前，开市客最近 12 个月的自由现金流（FCF）为 75 亿美元。展望未来，预计这一数字将稳步攀升。到 2029 年，自由现金流预计将达到约 113 亿美元，并在 2035 年前持续增长。这一稳定的增长得益于持续的收入来源和运营纪律。</p>
<p>当这些未来现金流全部加总并折现到现值时，开市客股票的内在价值估计为每股$676.35。与当前股价$958.54 相比，这一计算表明开市客的交易价格存在溢价。DCF 模型暗示该股票在当前水平上被高估了 41.7%。</p>
<p><strong>结果：被高估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/dcf?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/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/dcf"/></p>
<p>截至 2025 年 8 月的 COST 折现现金流</p>
<p>我们的 DCF 分析表明开市客可能被高估了 41.7%。根据 DCF 分析寻找被低估的股票，或创建自己的筛选器以寻找更好的价值机会。</p>
<h3>方法二：开市客的价格与收益</h3>
<p>市盈率（PE）通常是评估盈利公司价值的首选指标，因为它告诉你投资者今天愿意为每一美元的收益支付多少。对于像开市客这样盈利能力强的公司尤其有用，并且可以反映市场对该股票未来潜力的看法，相对于其同行。</p>
<p>然而，什么被认为是合理的市盈率取决于几个重要因素。预计增长较快的公司或被视为风险较小的公司往往会以更高的市盈率交易。相比之下，增长较慢的成熟公司可能会被赋予较低的价值。在解读这个数字时，背景非常重要。</p>
<p>开市客当前的市盈率为 54.2 倍，显著高于消费者零售行业平均的 21.6 倍和同行平均的 22.7 倍。根据 Simply Wall St 的专有公平比率，考虑到增长、稳定性、利润和其他风险指标，开市客的公平市盈率为 39.2 倍。虽然这表明该公司应当获得溢价，但当前的倍数仍远高于其基本面所认为的合理水平。</p>
<p>将实际市盈率与公平比率进行比较表明，开市客的股票在这种方法下被高估。</p>
<p><strong>结果：被高估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/pe-multiple-vs-industry?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/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 8 月的 NasdaqGS:COST 市盈率</p>
<p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现内部人士正在大举押注于爆炸性增长的公司。</p>
<h3>提升你的决策能力：选择你的开市客叙述</h3>
<p>叙述提供了一种更智能、更个性化的投资决策方式，通过将你对公司的故事（如预期增长、利润率和风险）与真实的前瞻性财务预测相结合，以得出合理的价值。叙述不仅依赖于标准比率，而是让你设定假设，并说明这些信念如何转化为股票的价值，使你的推理对自己和其他投资者都清晰可见。在 Simply Wall St 平台上，数百万人使用叙述快速测试他们的观点，随着新消息或收益的到来更新他们的展望，并实时查看他们的合理价值与当前股价的比较，以便及时做出投资决策。</p>
<p>例如，一些投资者使用乐观的增长和利润假设，估计好市多的公允价值为每股 1,225 美元，而其他对未来前景持更谨慎态度的投资者则得出仅为 489 美元的公允价值。通过选择或构建最符合自己观点的叙述，您可以根据自己所知和所信进行投资，同时保持分析的最新性，并与市场发展的新信息保持一致。</p>
<p>对于好市多，我们将为您提供两个主要的好市多叙述的预览：<strong>🐂 好市多看涨案例</strong></p>
<ul>
<li>公允价值：1,072.67 美元</li>
<li>当前交易价格低于该叙述公允价值 10.6%</li>
<li>预测收入增长：7.1%</li>
</ul>
<ul>
<li>强调仓库扩张、加长加油站营业时间和持续的国际增长是收入和会员增加的关键驱动因素。</li>
<li>表示对电子商务的投资和提高员工工资预计将支持更高的利润率并增强长期收益。</li>
<li>指出分析师共识价格目标表明好市多的定价合理；预期的未来增长可能证明当前水平是合理的。</li>
</ul>
<p><strong>🐻 好市多看跌案例</strong></p>
<ul>
<li>公允价值：489.26 美元</li>
<li>当前交易价格高于该叙述公允价值 96%</li>
<li>预测收入增长：4.2%</li>
</ul>
<ul>
<li>提醒当前估值较高，除非好市多加快电子商务发展、在新兴市场扩张并提高会员费。</li>
<li>认为自有品牌 Kirkland 和特别股息支持盈利能力，但对新仓库开业的持续回报提出质疑。</li>
<li>建议如果市场调整至较慢的增长，市盈率可能会下降，这可能使股票相对于基本面显得被高估。</li>
</ul>
<p>您认为好市多的故事还有更多内容吗？创建您自己的叙述，让社区知道！</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/community-fair-value?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/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/community-fair-value"/></p>
<p>纳斯达克：COST 社区公允价值截至 2025 年 8 月</p>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成购买或出售任何股票的推荐，也未考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

开市客

<p>开市客的股票正受到关注，因为投资者在强劲的会员续费后权衡其价值。尽管最近下跌了 1%，但该股票在 2024 年已上涨超过 5%，表现优于同行。分析师认为开市客的估值过高，目前股价为 958.54 美元，而基于折现现金流分析的估计内在价值为 676.35 美元，显示出 41.7% 的溢价。54.2 倍的市盈率也表明与行业平均水平相比存在高估。投资者在做出决策之前，建议考虑不同的估值方法</p>

<h2>Thinking About Costco Wholesale Stock? Here's What You Need to Know</h2>
<div class="lb-trans"><h2>考虑购买开市客股票吗？你需要知道这些</h2>
</div><p>Trying to decide whether to buy, sell, or simply hold onto Costco Wholesale stock? You are not alone. Even seasoned investors are giving this retail giant a fresh look, given how the stock has navigated both recent choppiness and impressive long-term gains. After all, this is a company whose loyal member base and strong business model have delivered some eye-catching returns, including nearly 9% in the past year and close to tripling in value over the last five years.</p>
<div class="lb-trans"><p>正在考虑是买入、卖出还是仅仅持有开市客股票？你并不孤单。即使是经验丰富的投资者也在重新审视这家零售巨头，因为该股票在最近的波动中表现出色，并且长期收益令人瞩目。毕竟，这是一家拥有忠实会员基础和强大商业模式的公司，过去一年回报接近 9%，而在过去五年中价值几乎翻了三倍。</p>
</div><p>But what’s been happening recently? The stock dipped about 1% over the last week, reflecting some of the broader market’s concerns around consumer spending and inflation. Still, over the past month, Costco shares rose more than 2%, and for 2024 so far, they are up over 5%, outperforming many retail peers. Recent news about strong membership renewals and steady revenue growth continues to highlight what investors appreciate about Costco, while occasional dips seem to reflect short-term market jitters rather than fundamental weaknesses. With its most recent close at $958.54, and analysts still seeing a price target well above current levels, optimism remains.</p>
<div class="lb-trans"><p>但最近发生了什么？该股票在过去一周下跌了约 1%，反映出市场对消费者支出和通货膨胀的担忧。然而，在过去一个月中，开市客的股价上涨了超过 2%，而截至 2024 年，目前股价上涨超过 5%，表现优于许多零售同行。关于强劲的会员续费和稳定的收入增长的最新消息，继续突显出投资者对开市客的认可，而偶尔的下跌似乎反映的是短期市场的紧张情绪，而非基本面的弱点。最近收盘价为$958.54，分析师仍然认为目标价远高于当前水平，乐观情绪依然存在。</p>
</div><p>So how does the current price compare to what Costco is really worth? Running it through some popular valuation metrics, the company actually earns a value score of 0 out of 6, which suggests it does not appear undervalued by these conventional checks. Don’t stop reading just yet though. Next, we’ll dig into the different methods analysts use to value Costco and why the best approach might not be what you expect.</p>
<div class="lb-trans"><p>那么当前价格与开市客的真实价值相比如何？通过一些流行的估值指标来看，该公司的价值评分为 0 分（满分 6 分），这表明根据这些传统检查，它似乎并不被低估。不过，别急着停止阅读。接下来，我们将深入探讨分析师用来评估开市客的不同方法，以及为什么最佳方法可能并不是你所预期的。</p>
</div><p>Costco Wholesale delivered 9.6% returns over the last year. See how this stacks up to the rest of the Consumer Retailing industry.</p>
<div class="lb-trans"><p>开市客在过去一年中实现了 9.6% 的回报。看看这与消费者零售行业的其他公司相比如何。</p>
</div><h3>Approach 1: Costco Wholesale Cash Flows</h3>
<div class="lb-trans"><h3>方法一：开市客的现金流</h3>
</div><p>The Discounted Cash Flow (DCF) model is a common valuation tool that estimates the worth of a business by taking its expected future cash flows and discounting them back to today’s dollars. For Costco Wholesale, analysts use a “2 Stage Free Cash Flow to Equity” method to forecast how the company might perform over the next decade.</p>
<div class="lb-trans"><p>折现现金流（DCF）模型是一种常见的估值工具，通过将预期的未来现金流折现回今天的美元来估算企业的价值。对于开市客，分析师使用 “二阶段自由现金流到股权” 方法来预测该公司在未来十年的表现。</p>
</div><p>Right now, Costco’s latest twelve months of Free Cash Flow (FCF) came in at $7.5 billion. Looking ahead, projections see this number steadily climbing. By 2029, FCF is expected to reach about $11.3 billion, with continued growth through 2035. This steady rise is supported by consistent revenue streams and operational discipline.</p>
<div class="lb-trans"><p>目前，开市客最近 12 个月的自由现金流（FCF）为 75 亿美元。展望未来，预计这一数字将稳步攀升。到 2029 年，自由现金流预计将达到约 113 亿美元，并在 2035 年前持续增长。这一稳定的增长得益于持续的收入来源和运营纪律。</p>
</div><p>When these future cash flows are all added up and discounted to present value, the estimated intrinsic value of Costco’s stock comes to $676.35 per share. When compared with the current share price of $958.54, this calculation suggests that Costco is trading at a premium. The DCF model implies the stock is 41.7% overvalued at current levels.</p>
<div class="lb-trans"><p>当这些未来现金流全部加总并折现到现值时，开市客股票的内在价值估计为每股$676.35。与当前股价$958.54 相比，这一计算表明开市客的交易价格存在溢价。DCF 模型暗示该股票在当前水平上被高估了 41.7%。</p>
</div><p><strong>Result: OVERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被高估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/dcf" alt="" original-src="https://images.simplywall.st/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/dcf"/></p>
<p>COST Discounted Cash Flow as at Aug 2025</p>
<div class="lb-trans"><p>截至 2025 年 8 月的 COST 折现现金流</p>
</div><p>Our DCF analysis suggests Costco Wholesale may be overvalued by 41.7%. Find undervalued stocks based on DCF analysis or create your own screener to find better value opportunities.</p>
<div class="lb-trans"><p>我们的 DCF 分析表明开市客可能被高估了 41.7%。根据 DCF 分析寻找被低估的股票，或创建自己的筛选器以寻找更好的价值机会。</p>
</div><h3>Approach 2: Costco Wholesale Price vs Earnings</h3>
<div class="lb-trans"><h3>方法二：开市客的价格与收益</h3>
</div><p>The price-to-earnings (PE) ratio is often the go-to metric for valuing profitable companies because it tells you how much investors are willing to pay today for each dollar of earnings. It is especially useful when a company has a strong track record of profitability, like Costco, and can signal how the market views the stock’s future potential relative to its peers.</p>
<div class="lb-trans"><p>市盈率（PE）通常是评估盈利公司价值的首选指标，因为它告诉你投资者今天愿意为每一美元的收益支付多少。对于像开市客这样盈利能力强的公司尤其有用，并且可以反映市场对该股票未来潜力的看法，相对于其同行。</p>
</div><p>What is considered a fair PE ratio, however, depends on a few important factors. Companies expected to grow faster, or those seen as less risky, tend to trade at higher PE ratios. By contrast, more mature companies with slower growth might warrant lower values. Context is important when interpreting this number.</p>
<div class="lb-trans"><p>然而，什么被认为是合理的市盈率取决于几个重要因素。预计增长较快的公司或被视为风险较小的公司往往会以更高的市盈率交易。相比之下，增长较慢的成熟公司可能会被赋予较低的价值。在解读这个数字时，背景非常重要。</p>
</div><p>Costco’s current PE ratio is 54.2x, significantly higher than the Consumer Retailing industry average of just 21.6x and the peer average of 22.7x. Based on Simply Wall St’s proprietary Fair Ratio, which factors in growth, stability, profits, and other risk measures, Costco scores a fair PE ratio of 39.2x. While this indicates the company deserves a premium, the current multiple is still well above what would be considered fair given its fundamentals.</p>
<div class="lb-trans"><p>开市客当前的市盈率为 54.2 倍，显著高于消费者零售行业平均的 21.6 倍和同行平均的 22.7 倍。根据 Simply Wall St 的专有公平比率，考虑到增长、稳定性、利润和其他风险指标，开市客的公平市盈率为 39.2 倍。虽然这表明该公司应当获得溢价，但当前的倍数仍远高于其基本面所认为的合理水平。</p>
</div><p>Comparing the actual PE ratio with the Fair Ratio suggests Costco shares are overvalued using this approach.</p>
<div class="lb-trans"><p>将实际市盈率与公平比率进行比较表明，开市客的股票在这种方法下被高估。</p>
</div><p><strong>Result: OVERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被高估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/pe-multiple-vs-industry"/></p>
<p>NasdaqGS:COST PE Ratio as at Aug 2025</p>
<div class="lb-trans"><p>截至 2025 年 8 月的 NasdaqGS:COST 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover companies where insiders are betting big on explosive growth.</p>
<div class="lb-trans"><p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现内部人士正在大举押注于爆炸性增长的公司。</p>
</div><h3>Upgrade Your Decision Making: Choose your Costco Wholesale Narrative</h3>
<div class="lb-trans"><h3>提升你的决策能力：选择你的开市客叙述</h3>
</div><p>Narratives offer a smarter, more personalized way to make investment decisions by connecting the story you believe about a company, such as expected growth, margins, and risks, with real, forward-looking financial forecasts to arrive at a fair value. Instead of relying just on standard ratios, Narratives let you set your assumptions and illustrate how those beliefs translate into a stock’s worth, making your reasoning clear both to yourself and other investors. On the Simply Wall St platform, millions use Narratives to quickly test their perspective, update their outlook as new news or earnings come in, and see in real time how their fair value compares to the current share price for timely investment decisions.</p>
<div class="lb-trans"><p>叙述提供了一种更智能、更个性化的投资决策方式，通过将你对公司的故事（如预期增长、利润率和风险）与真实的前瞻性财务预测相结合，以得出合理的价值。叙述不仅依赖于标准比率，而是让你设定假设，并说明这些信念如何转化为股票的价值，使你的推理对自己和其他投资者都清晰可见。在 Simply Wall St 平台上，数百万人使用叙述快速测试他们的观点，随着新消息或收益的到来更新他们的展望，并实时查看他们的合理价值与当前股价的比较，以便及时做出投资决策。</p>
</div><p>For example, some investors, using optimistic growth and margin assumptions, estimate Costco’s fair value at $1,225 per share, while others, more cautious about future prospects, arrive at a much lower fair value of just $489. By choosing or building a Narrative that best fits your own outlook, you can invest according to what you know and believe, while keeping your analysis up to date and aligned with fresh information as the market evolves.</p>
<div class="lb-trans"><p>例如，一些投资者使用乐观的增长和利润假设，估计好市多的公允价值为每股 1,225 美元，而其他对未来前景持更谨慎态度的投资者则得出仅为 489 美元的公允价值。通过选择或构建最符合自己观点的叙述，您可以根据自己所知和所信进行投资，同时保持分析的最新性，并与市场发展的新信息保持一致。</p>
</div><p>For Costco Wholesale, we'll make it really easy for you with previews of two leading Costco Wholesale Narratives: <strong>🐂 Costco Wholesale Bull Case</strong></p>
<div class="lb-trans"><p>对于好市多，我们将为您提供两个主要的好市多叙述的预览：<strong>🐂 好市多看涨案例</strong></p>
</div><ul>
<li>Fair value: $1,072.67</li>
<li>Currently trading 10.6% below this narrative fair value</li>
<li>Forecast revenue growth: 7.1%</li>
</ul>
<div class="lb-trans"><ul>
<li>公允价值：1,072.67 美元</li>
<li>当前交易价格低于该叙述公允价值 10.6%</li>
<li>预测收入增长：7.1%</li>
</ul>
</div><ul>
<li>Highlights warehouse expansion, longer gas station hours, and ongoing international growth as key drivers for revenue and membership increases.</li>
<li>States that investment in e-commerce and higher employee wages is expected to support higher margins and strengthen long-term earnings.</li>
<li>Notes that analyst consensus price targets indicate Costco is fairly priced; anticipated future growth could justify current levels.</li>
</ul>
<div class="lb-trans"><ul>
<li>强调仓库扩张、加长加油站营业时间和持续的国际增长是收入和会员增加的关键驱动因素。</li>
<li>表示对电子商务的投资和提高员工工资预计将支持更高的利润率并增强长期收益。</li>
<li>指出分析师共识价格目标表明好市多的定价合理；预期的未来增长可能证明当前水平是合理的。</li>
</ul>
</div><p><strong>🐻 Costco Wholesale Bear Case</strong></p>
<div class="lb-trans"><p><strong>🐻 好市多看跌案例</strong></p>
</div><ul>
<li>Fair value: $489.26</li>
<li>Currently trading 96% above this narrative fair value</li>
<li>Forecast revenue growth: 4.2%</li>
</ul>
<div class="lb-trans"><ul>
<li>公允价值：489.26 美元</li>
<li>当前交易价格高于该叙述公允价值 96%</li>
<li>预测收入增长：4.2%</li>
</ul>
</div><ul>
<li>Cautions that current valuation is high unless Costco accelerates e-commerce, expands in emerging markets, and raises membership fees.</li>
<li>Views the in-house Kirkland brand and special dividends as supporting profitability, but raises questions about the ongoing returns from new warehouse openings.</li>
<li>Suggests the price-to-earnings multiple could decrease if the market adjusts to slower growth, which may make the stock appear overvalued relative to fundamentals.</li>
</ul>
<div class="lb-trans"><ul>
<li>提醒当前估值较高，除非好市多加快电子商务发展、在新兴市场扩张并提高会员费。</li>
<li>认为自有品牌 Kirkland 和特别股息支持盈利能力，但对新仓库开业的持续回报提出质疑。</li>
<li>建议如果市场调整至较慢的增长，市盈率可能会下降，这可能使股票相对于基本面显得被高估。</li>
</ul>
</div><p>Do you think there's more to the story for Costco Wholesale? Create your own Narrative to let the Community know!</p>
<div class="lb-trans"><p>您认为好市多的故事还有更多内容吗？创建您自己的叙述，让社区知道！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/community-fair-value" alt="" original-src="https://images.simplywall.st/company/ede69fea-1fbf-45f9-a1a7-cb2a2e60f847/chart/community-fair-value"/></p>
<p>NasdaqGS:COST Community Fair Values as at Aug 2025</p>
<div class="lb-trans"><p>纳斯达克：COST 社区公允价值截至 2025 年 8 月</p>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成购买或出售任何股票的推荐，也未考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

在 2025 年会员续约强劲之后，开市客的股票是否仍然值得投资？