<p>Clover Health Investments (CLOV) 目前尚未盈利，但公司在过去五年中成功将每年的亏损减少了 25.5%。预计收入将以每年 14.9% 的速度增长，超过美国整体市场 10.4% 的增长率。同时，预计盈利将以令人印象深刻的每年 77.48% 的速度激增，预计在三年内实现盈利。尽管最近几个月股价经历了波动，投资者正在权衡快速增长与改善利润率的组合，因为公司正逐步接近盈利。</p>
<p>查看我们对 Clover Health Investments 的完整分析。</p>
<p>现在，让我们看看这些结果与 CLOV 的主流叙述相比如何。这是数字与故事的结合。</p>
<p>查看社区对 Clover Health Investments 的看法。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b181a9f8-182e-48cc-b994-e8c063d4c75b/chart/earnings-and-revenue-history?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/b181a9f8-182e-48cc-b994-e8c063d4c75b/chart/earnings-and-revenue-history"/></p>
<p>截至 2025 年 11 月的 NasdaqGS:CLOV 盈利与收入历史</p>
<h2>正向利润率的路径：盈利触手可及</h2>
<ul>
<li>分析师预计 Clover Health 的利润率将从今天的 -2.6% 提升至三年内的 0.4%，这标志着在经历多年的亏损后，向盈利转变。</li>
<li>根据分析师的共识观点，这一利润率扩张部分是由于：
<ul>
<li>公司持续的成本控制措施，降低了销售和管理费用占收入的比例，支持可扩展增长。</li>
<li>新成员群体的贡献增强和改善的运营杠杆。随着收入的增长，这两者都将提升底线。</li>
</ul>
</li>
<li>共识叙述指出，2026 年 PPO 计划升级为 4 星支付年将提升 CMS 报销，直接支持净利润率扩张和再投资能力。</li>
</ul>
<p>看看市场是否认同。阅读完整的共识叙述，了解这一转折点背后的数字。</p>
<p><strong>📊 阅读完整的 Clover Health Investments 共识叙述。</strong></p>
<h2>估值在显微镜下：市销率折扣</h2>
<ul>
<li>Clover Health 的市销率为 0.9 倍，显著低于其同行平均值 2.2 倍和美国医疗保健行业的 1.3 倍。这使得公司在行业同行中被视为价值选择。</li>
<li>正如分析师的共识观点所强调的：
<ul>
<li>这一估值折扣反映了市场对 Clover Health 能否实现可持续盈利的持续怀疑，即使其核心增长指标超过市场。</li>
<li>共识分析师的目标股价为 3.37，约比当前股价 2.97 高出 14%。这表明市场尚未完全考虑到未来三年利润和收入扩张的前景。</li>
</ul>
</li>
</ul>
<h2>风险：波动性和对 Medicare 的依赖</h2>
<ul>
<li>空头认为，Clover Health 股价在过去三个月的持续波动，加上对 Medicare Advantage PPO 计划的高度依赖，使公司面临监管和报销风险。</li>
<li>分析师的共识观点进一步阐述：
<ul>
<li>政府报销率或 4 星奖金结构的不利变化可能会大幅减少收入和净利润率，威胁短期盈利。</li>
<li>持续的净亏损和来自大型保险公司的激烈竞争加剧了对公司在扩张过程中是否能实现和维持正收益的质疑，尽管其成本控制和技术优势。</li>
</ul>
</li>
</ul>
<h2>下一步</h2>
<p>要了解这些结果如何与长期增长、风险和估值相关，请查看 Simply Wall St 上 Clover Health Investments 的完整社区叙述。将公司添加到您的关注列表或投资组合中，以便在故事发展时收到提醒。</p>
<p>对这些数字有不同看法？在几分钟内构建您自己的观点并塑造叙述：按您的方式进行。</p>
<p>进行 Clover Health Investments 研究的一个很好的起点是我们的分析，突出了 3 个关键奖励和 1 个可能影响您投资决策的重要警示信号。</p>
<h2>查看其他信息</h2>
<p>Clover Health 持续的净亏损、利润率不确定性和对监管驱动增长的依赖引发了对公司能否提供持续财务实力的担忧。</p>
<p>如果您更倾向于投资于财务基础更稳健的公司，请使用我们的稳健资产负债表和基本面股票筛选器（1974 个结果），专注于在变化的市场条件下表现出更强资产负债表和韧性的公司。</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> 它不构成买卖任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是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均没有持仓。</em></p>

三叶草健康

<p>Clover Health (CLOV) 目前尚未盈利，但在过去五年中每年减少了 25.5% 的亏损。预计收入将以每年 14.9% 的速度增长，盈利预计将每年激增 77.48%，预计在三年内实现盈利。该公司的市销率为 0.9 倍，低于同行，显示出价值机会。然而，风险包括股价波动和对医疗保险的依赖，这可能会影响收入和利润率。分析师的目标价为 3.37 美元，暗示从当前水平有潜在的上涨空间</p>

<p>Clover Health Investments (CLOV) is currently unprofitable, but the company has managed to cut its losses by 25.5% per year over the past five years. Revenue is forecast to grow at 14.9% per year, outpacing the broader US market’s 10.4% growth rate. Meanwhile, earnings are expected to surge at an impressive 77.48% per year, with profitability anticipated within three years. While the share price has experienced volatility in recent months, investors are weighing the mix of swift growth and improving margins as the company moves closer to profitability.</p>
<div class="lb-trans"><p>Clover Health Investments (CLOV) 目前尚未盈利，但公司在过去五年中成功将每年的亏损减少了 25.5%。预计收入将以每年 14.9% 的速度增长，超过美国整体市场 10.4% 的增长率。同时，预计盈利将以令人印象深刻的每年 77.48% 的速度激增，预计在三年内实现盈利。尽管最近几个月股价经历了波动，投资者正在权衡快速增长与改善利润率的组合，因为公司正逐步接近盈利。</p>
</div><p>See our full analysis for Clover Health Investments.</p>
<div class="lb-trans"><p>查看我们对 Clover Health Investments 的完整分析。</p>
</div><p>Now, let’s see how these results measure up against the dominant narratives for CLOV. This is where the numbers meet the story.</p>
<div class="lb-trans"><p>现在，让我们看看这些结果与 CLOV 的主流叙述相比如何。这是数字与故事的结合。</p>
</div><p>See what the community is saying about Clover Health Investments</p>
<div class="lb-trans"><p>查看社区对 Clover Health Investments 的看法。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b181a9f8-182e-48cc-b994-e8c063d4c75b/chart/earnings-and-revenue-history" alt="" original-src="https://images.simplywall.st/company/b181a9f8-182e-48cc-b994-e8c063d4c75b/chart/earnings-and-revenue-history"/></p>
<p>NasdaqGS:CLOV Earnings &amp; Revenue History as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 NasdaqGS:CLOV 盈利与收入历史</p>
</div><h2>Path to Positive Margins: Profitability Within Reach</h2>
<div class="lb-trans"><h2>正向利润率的路径：盈利触手可及</h2>
</div><ul>
<li>Analysts expect Clover Health’s profit margins to improve from -2.6% today to 0.4% within three years, signaling a move into profitability after years of losses.</li>
<li>According to the analysts' consensus view, this margin expansion is driven in part by:
<ul>
<li>The company’s ongoing cost control measures, which are reducing SG&amp;A as a percentage of revenue and supporting scalable growth.</li>
<li>Strengthening contributions from new member cohorts and improved operating leverage. Both are set to boost the bottom line as revenue grows.</li>
</ul>
</li>
<li>Consensus narrative notes that the upgrade to a 4-star payment year for PPO plans in 2026 will boost CMS reimbursements, directly supporting net margin expansion and reinvestment capacity.</li>
</ul>
<div class="lb-trans"><ul>
<li>分析师预计 Clover Health 的利润率将从今天的 -2.6% 提升至三年内的 0.4%，这标志着在经历多年的亏损后，向盈利转变。</li>
<li>根据分析师的共识观点，这一利润率扩张部分是由于：
<ul>
<li>公司持续的成本控制措施，降低了销售和管理费用占收入的比例，支持可扩展增长。</li>
<li>新成员群体的贡献增强和改善的运营杠杆。随着收入的增长，这两者都将提升底线。</li>
</ul>
</li>
<li>共识叙述指出，2026 年 PPO 计划升级为 4 星支付年将提升 CMS 报销，直接支持净利润率扩张和再投资能力。</li>
</ul>
</div><p>See if the market agrees. Read the full consensus narrative for the numbers behind this turning point.</p>
<div class="lb-trans"><p>看看市场是否认同。阅读完整的共识叙述，了解这一转折点背后的数字。</p>
</div><p><strong>📊 Read the full Clover Health Investments Consensus Narrative.</strong></p>
<div class="lb-trans"><p><strong>📊 阅读完整的 Clover Health Investments 共识叙述。</strong></p>
</div><h2>Valuation Under the Microscope: Price-to-Sales Discount</h2>
<div class="lb-trans"><h2>估值在显微镜下：市销率折扣</h2>
</div><ul>
<li>Clover Health’s Price-to-Sales Ratio of 0.9x is notably lower than its peer average of 2.2x and the broader US healthcare sector’s 1.3x. This positions the company as a value pick among industry peers.</li>
<li>As the analysts' consensus view highlights:
<ul>
<li>This valuation discount reflects ongoing skepticism about Clover Health’s ability to reach sustainable profitability, even as its core growth metrics outpace the market.</li>
<li>The consensus analyst price target sits at 3.37, approximately 14% above the current share price of 2.97. This suggests that the market has yet to fully price in the prospects for margin and revenue expansion over the next three years.</li>
</ul>
</li>
</ul>
<div class="lb-trans"><ul>
<li>Clover Health 的市销率为 0.9 倍，显著低于其同行平均值 2.2 倍和美国医疗保健行业的 1.3 倍。这使得公司在行业同行中被视为价值选择。</li>
<li>正如分析师的共识观点所强调的：
<ul>
<li>这一估值折扣反映了市场对 Clover Health 能否实现可持续盈利的持续怀疑，即使其核心增长指标超过市场。</li>
<li>共识分析师的目标股价为 3.37，约比当前股价 2.97 高出 14%。这表明市场尚未完全考虑到未来三年利润和收入扩张的前景。</li>
</ul>
</li>
</ul>
</div><h2>Risks: Volatility and Reliance on Medicare</h2>
<div class="lb-trans"><h2>风险：波动性和对 Medicare 的依赖</h2>
</div><ul>
<li>Bears argue that continued volatility in Clover Health’s share price over the past three months, combined with heavy reliance on Medicare Advantage PPO plans, exposes the company to regulatory and reimbursement risk.</li>
<li>Points from the analysts' consensus view elaborate that:
<ul>
<li>Adverse changes in government reimbursement rates or the 4-star bonus structure could sharply reduce revenue and net margins, threatening near-term profitability.</li>
<li>Ongoing net losses and significant competition from larger insurers reinforce questions about whether cost controls and technology advantages will be sufficient to achieve and sustain positive earnings as the company scales.</li>
</ul>
</li>
</ul>
<div class="lb-trans"><ul>
<li>空头认为，Clover Health 股价在过去三个月的持续波动，加上对 Medicare Advantage PPO 计划的高度依赖，使公司面临监管和报销风险。</li>
<li>分析师的共识观点进一步阐述：
<ul>
<li>政府报销率或 4 星奖金结构的不利变化可能会大幅减少收入和净利润率，威胁短期盈利。</li>
<li>持续的净亏损和来自大型保险公司的激烈竞争加剧了对公司在扩张过程中是否能实现和维持正收益的质疑，尽管其成本控制和技术优势。</li>
</ul>
</li>
</ul>
</div><h2>Next Steps</h2>
<div class="lb-trans"><h2>下一步</h2>
</div><p>To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Clover Health Investments on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.</p>
<div class="lb-trans"><p>要了解这些结果如何与长期增长、风险和估值相关，请查看 Simply Wall St 上 Clover Health Investments 的完整社区叙述。将公司添加到您的关注列表或投资组合中，以便在故事发展时收到提醒。</p>
</div><p>Have a different take on the numbers? Craft your own view in just a few minutes and shape the narrative: Do it your way</p>
<div class="lb-trans"><p>对这些数字有不同看法？在几分钟内构建您自己的观点并塑造叙述：按您的方式进行。</p>
</div><p>A great starting point for your Clover Health Investments research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.</p>
<div class="lb-trans"><p>进行 Clover Health Investments 研究的一个很好的起点是我们的分析，突出了 3 个关键奖励和 1 个可能影响您投资决策的重要警示信号。</p>
</div><h2>See What Else Is Out There</h2>
<div class="lb-trans"><h2>查看其他信息</h2>
</div><p>Clover Health’s persistent net losses, margin uncertainty, and reliance on regulatory-driven growth raise concerns about the company’s ability to deliver consistent financial strength.</p>
<div class="lb-trans"><p>Clover Health 持续的净亏损、利润率不确定性和对监管驱动增长的依赖引发了对公司能否提供持续财务实力的担忧。</p>
</div><p>If you prefer investments with more robust financial footing, use our solid balance sheet and fundamentals stocks screener (1974 results) to focus on companies demonstrating stronger balance sheets and resilience through changing market conditions.</p>
<div class="lb-trans"><p>如果您更倾向于投资于财务基础更稳健的公司，请使用我们的稳健资产负债表和基本面股票筛选器（1974 个结果），专注于在变化的市场条件下表现出更强资产负债表和韧性的公司。</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> 它不构成买卖任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是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均没有持仓。</em></p>
</div>

随着盈利预测的增强，三叶草健康（CLOV）的市销率折扣正在挑战怀疑者