<p>泰尔茂（TSE:4543）刚刚获得 FDA 510(k) 批准，推出其 OPUSWAVE 双传感器成像系统，包括 DualView 成像导管。这一发布标志着泰尔茂进入美国心血管成像市场，采用 OFDI 和 IVUS 双重方法。</p>
<p>查看我们对泰尔茂的最新分析。</p>
<p>泰尔茂的新 FDA 批准为其稳步推出产品和临床合作伙伴关系的一年增添了动力。然而，股价的动能依然疲软，过去一年总股东回报为-10.3%，年初至今股价回报为-14.6%。尽管面临这些近期挑战，长期持有者在五年内仍获得了 38.5% 的总股东回报。这表明公司的创新仍然为投资者提供了价值。</p>
<p>如果泰尔茂的突破让你想到更大的机会，这可能是通过我们精心挑选的医疗创新者名单寻找机会的完美时刻：免费查看完整名单。</p>
<p>随着新产品的突破和与分析师目标价格的显著折扣，投资者现在面临一个经典的困境：泰尔茂目前被低估，还是这些催化剂已经反映在股价中？</p>
<h2>最受欢迎的叙述：22.1% 被低估</h2>
<p>叙述共识认为泰尔茂的公允价值显著高于其最后收盘价，突显了当前市场情绪与预期财务实力之间的脱节。以下来自叙述的见解提供了分析师认为可能推动下一轮上涨的窗口。</p>
<blockquote>
<p><em>定价举措，特别是在心血管和神经血管领域，比预期更为有效。价格上涨已嵌入合同中，预计通过合同续签将进一步改善价格。这支持了更高的毛利率和营业利润率，尽管预计关税将带来压力。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>想知道这种看涨前景背后的数字吗？秘密在于分析师对利润率扩张和顶线增长的预期，几乎没有竞争对手能够匹敌。想了解推动当前价格与目标价值之间如此大差距的假设吗？解锁这一潜在关键升级背后的完整推理。</p>
<p><strong>结果：公允价值为¥3,288.57（被低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，持续的关税影响和创新投资放缓可能成为挑战，影响泰尔茂盈利轨迹的乐观前景。</p>
<p>了解这一泰尔茂叙述的关键风险。</p>
<h2>另一种观点：倍数暗示了什么？</h2>
<p>从比较的角度来看，泰尔茂的市盈率为 30.2 倍，显著高于行业平均的 15.5 倍和直接竞争对手的 22.1 倍。这使得该股票在大多数竞争对手中显得昂贵。其公允比率为 31.2 倍，表明市场可能会为其定价溢价。这一溢价是否反映了真正的机会，还是可能在预期变化时使投资者面临下行风险？</p>
<p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b0fc3ba8-0335-475f-b9bf-c0cda7d8cf15/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/b0fc3ba8-0335-475f-b9bf-c0cda7d8cf15/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 10 月的 TSE:4543 市盈率</p>
<h2>构建你自己的泰尔茂叙述</h2>
<p>如果这个观点与你的看法不符，或者你想得出自己的结论，你可以在几分钟内轻松构建个人叙述。按照你的方式进行。</p>
<p>一个好的起点是我们的分析，强调投资者对泰尔茂的四个关键回报的乐观预期。</p>
<h2>寻找更多投资想法？</h2>
<p>聪明的投资者从不满足于仅仅一个机会。通过锁定具有动态基本面和潜在卓越回报的股票，领先于人群。</p>
<ul>
<li>通过这些 28 只量子计算股票捕捉与未来技术相关的高收益机会。</li>
<li>通过这些 17 只收益率超过 3% 的分红股票确保稳定的收入流，这些股票具有可靠的支付者和吸引人的收益率。</li>
<li>发现被低估的珍品，并通过这些 873 只基于现金流的被低估股票提前布局，基于真实的现金流分析和价值信号。</li>
</ul>
<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，采用无偏见的方法，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，也不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>

泰尔茂(ADR)

<p>泰尔茂（TSE:4543）已获得 FDA 批准其 OPUSWAVE 双传感器成像系统，标志着其进入美国心血管成像市场。尽管近期推出了新产品，但公司的股价仍然下跌，过去一年总股东回报率为-10.3%。分析师认为泰尔茂被低估，公允价值为¥3,288.57，得益于有效的定价策略。然而，其市盈率为 30.2 倍，高于行业平均水平，这引发了对潜在下行风险的担忧。投资者被鼓励进一步探索医疗创新领域的机会</p>

<p>Terumo (TSE:4543) just earned FDA 510(k) clearance for its OPUSWAVE Dual Sensor Imaging System, including the DualView imaging catheter. This launch marks Terumo’s entry into US cardiovascular imaging with an OFDI and IVUS dual approach.</p>
<div class="lb-trans"><p>泰尔茂（TSE:4543）刚刚获得 FDA 510(k) 批准，推出其 OPUSWAVE 双传感器成像系统，包括 DualView 成像导管。这一发布标志着泰尔茂进入美国心血管成像市场，采用 OFDI 和 IVUS 双重方法。</p>
</div><p>See our latest analysis for Terumo.</p>
<div class="lb-trans"><p>查看我们对泰尔茂的最新分析。</p>
</div><p>Terumo’s new FDA clearance adds to a year of steady product launches and clinical partnerships. However, momentum in the share price has remained muted, with a 1-year total shareholder return of -10.3% and a year-to-date share price return of -14.6%. Despite these recent headwinds, long-term holders have still benefited from a 38.5% total shareholder return over five years. This suggests the company’s innovation continues to offer value for patient investors.</p>
<div class="lb-trans"><p>泰尔茂的新 FDA 批准为其稳步推出产品和临床合作伙伴关系的一年增添了动力。然而，股价的动能依然疲软，过去一年总股东回报为-10.3%，年初至今股价回报为-14.6%。尽管面临这些近期挑战，长期持有者在五年内仍获得了 38.5% 的总股东回报。这表明公司的创新仍然为投资者提供了价值。</p>
</div><p>If Terumo’s breakthrough has you thinking bigger, this might be the perfect moment to seek out healthcare innovators through our curated list: See the full list for free.</p>
<div class="lb-trans"><p>如果泰尔茂的突破让你想到更大的机会，这可能是通过我们精心挑选的医疗创新者名单寻找机会的完美时刻：免费查看完整名单。</p>
</div><p>With fresh product breakthroughs and a sizable discount to analyst price targets, investors now face a classic dilemma: is Terumo currently undervalued, or are these catalysts all baked into the share price already?</p>
<div class="lb-trans"><p>随着新产品的突破和与分析师目标价格的显著折扣，投资者现在面临一个经典的困境：泰尔茂目前被低估，还是这些催化剂已经反映在股价中？</p>
</div><h2>Most Popular Narrative: 22.1% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：22.1% 被低估</h2>
</div><p>The narrative consensus sees Terumo's fair value significantly above its last close, highlighting the disconnect between current market sentiment and projected financial strength. The following insight from the narrative provides a window into what analysts believe could power the next leg up.</p>
<div class="lb-trans"><p>叙述共识认为泰尔茂的公允价值显著高于其最后收盘价，突显了当前市场情绪与预期财务实力之间的脱节。以下来自叙述的见解提供了分析师认为可能推动下一轮上涨的窗口。</p>
</div><blockquote>
<p><em>Pricing initiatives, particularly in the Cardiovascular and Neurovascular segments, have been more effective than anticipated. Price increases are being embedded into contracts, and further price improvements are expected through contract renewals. This is supporting higher gross and operating margins despite expected headwinds from tariffs.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>定价举措，特别是在心血管和神经血管领域，比预期更为有效。价格上涨已嵌入合同中，预计通过合同续签将进一步改善价格。这支持了更高的毛利率和营业利润率，尽管预计关税将带来压力。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Want to know the numbers behind this bullish outlook? The secret lies in analyst expectations for margin expansion and top-line growth few competitors can match. Curious about the assumptions driving such a large gap between current price and target value? Unlock the full reasoning behind this potentially pivotal upgrade.</p>
<div class="lb-trans"><p>想知道这种看涨前景背后的数字吗？秘密在于分析师对利润率扩张和顶线增长的预期，几乎没有竞争对手能够匹敌。想了解推动当前价格与目标价值之间如此大差距的假设吗？解锁这一潜在关键升级背后的完整推理。</p>
</div><p><strong>Result: Fair Value of ¥3,288.57 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为¥3,288.57（被低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, ongoing tariff impacts and slower innovation investment could become headwinds and challenge the upbeat outlook for Terumo's earnings trajectory.</p>
<div class="lb-trans"><p>然而，持续的关税影响和创新投资放缓可能成为挑战，影响泰尔茂盈利轨迹的乐观前景。</p>
</div><p>Find out about the key risks to this Terumo narrative.</p>
<div class="lb-trans"><p>了解这一泰尔茂叙述的关键风险。</p>
</div><h2>Another View: What Do Multiples Suggest?</h2>
<div class="lb-trans"><h2>另一种观点：倍数暗示了什么？</h2>
</div><p>Looking through a comparative lens, Terumo’s price-to-earnings ratio stands at 30.2x, which is significantly higher than both the industry average of 15.5x and direct peers at 22.1x. This makes the stock look expensive versus most competitors. Its fair ratio of 31.2x suggests the market might justify a premium. Does this premium reflect genuine opportunity, or could it expose investors to downside if expectations shift?</p>
<div class="lb-trans"><p>从比较的角度来看，泰尔茂的市盈率为 30.2 倍，显著高于行业平均的 15.5 倍和直接竞争对手的 22.1 倍。这使得该股票在大多数竞争对手中显得昂贵。其公允比率为 31.2 倍，表明市场可能会为其定价溢价。这一溢价是否反映了真正的机会，还是可能在预期变化时使投资者面临下行风险？</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b0fc3ba8-0335-475f-b9bf-c0cda7d8cf15/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/b0fc3ba8-0335-475f-b9bf-c0cda7d8cf15/chart/pe-multiple-vs-industry"/></p>
<p>TSE:4543 PE Ratio as at Oct 2025</p>
<div class="lb-trans"><p>截至 2025 年 10 月的 TSE:4543 市盈率</p>
</div><h2>Build Your Own Terumo Narrative</h2>
<div class="lb-trans"><h2>构建你自己的泰尔茂叙述</h2>
</div><p>If this perspective does not resonate with you, or you want to draw your own conclusions, you can easily craft a personal narrative in just a few minutes. Do it your way</p>
<div class="lb-trans"><p>如果这个观点与你的看法不符，或者你想得出自己的结论，你可以在几分钟内轻松构建个人叙述。按照你的方式进行。</p>
</div><p>A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Terumo.</p>
<div class="lb-trans"><p>一个好的起点是我们的分析，强调投资者对泰尔茂的四个关键回报的乐观预期。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>Smart investors never settle for just one opportunity. Jump ahead of the crowd by pinpointing stocks with dynamic fundamentals and the potential for outstanding returns.</p>
<div class="lb-trans"><p>聪明的投资者从不满足于仅仅一个机会。通过锁定具有动态基本面和潜在卓越回报的股票，领先于人群。</p>
</div><ul>
<li>Capture growth by targeting high-yielding opportunities linked to future technologies with these 28 quantum computing stocks.</li>
<li>Secure steady income streams by tapping into these 17 dividend stocks with yields &gt; 3%, which features reliable payers with attractive yields above 3%.</li>
<li>Uncover underappreciated gems and get a head start with these 873 undervalued stocks based on cash flows, based on real cash flow analysis and value signals.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过这些 28 只量子计算股票捕捉与未来技术相关的高收益机会。</li>
<li>通过这些 17 只收益率超过 3% 的分红股票确保稳定的收入流，这些股票具有可靠的支付者和吸引人的收益率。</li>
<li>发现被低估的珍品，并通过这些 873 只基于现金流的被低估股票提前布局，基于真实的现金流分析和价值信号。</li>
</ul>
</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，采用无偏见的方法，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，也不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>

泰尔茂（TSE:4543）在获得 FDA 批准后，其在美国心血管成像领域的首次亮相引发了对其估值的关注