<h3>关键洞察</h3>
<ul>
<li>使用两阶段自由现金流折现法，大日本印刷的公允价值估计为 3,680 日元</li>
<li>根据当前股价 2,607 日元，大日本印刷估计被低估 29%</li>
<li>分析师对 7912 的目标股价为 2,673 日元，低于我们公允价值估计的 27%</li>
</ul>
<p>大日本印刷株式会社（TSE:7912）11 月的股价是否反映了其真实价值？今天，我们将通过估算公司的未来现金流并将其折现到现值来估计股票的内在价值。我们将应用折现现金流（DCF）模型来实现这一点。在你认为自己无法理解之前，请继续阅读！实际上，这比你想象的要简单得多。</p>
<p>我们通常认为，一家公司的价值是其未来将产生的所有现金流的现值。然而，DCF 只是众多估值指标中的一种，并非没有缺陷。任何对内在价值感兴趣的人都应该阅读一下 Simply Wall St 的分析模型。</p>
<p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
<h2>逐步计算</h2>
<p>我们使用的是一种称为两阶段模型的方法，这意味着我们有两个不同的现金流增长率阶段。通常，第一个阶段是较高的增长，第二个阶段是较低的增长。在第一个阶段，我们需要估算未来十年内公司的现金流。在可能的情况下，我们使用分析师的估计，但当这些不可用时，我们会从上一个估计或报告值中推断出之前的自由现金流（FCF）。我们假设自由现金流减少的公司将减缓其缩减速度，而自由现金流增长的公司在此期间将看到其增长速度放缓。我们这样做是为了反映出，早期的增长往往比后期的增长放缓得更快。</p>
<p>通常我们假设今天的一美元比未来的一美元更有价值，因此这些未来现金流的总和会折现到今天的价值：</p>
<h4>10 年自由现金流（FCF）估计</h4>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>杠杆自由现金流（¥，百万）</strong></td>
<td>JP¥114.5b</td>
<td>JP¥91.7b</td>
<td>JP¥78.6b</td>
<td>JP¥88.0b</td>
<td>JP¥82.0b</td>
<td>JP¥78.3b</td>
<td>JP¥75.9b</td>
<td>JP¥74.5b</td>
<td>JP¥73.6b</td>
<td>JP¥73.1b</td>
</tr>
<tr>
<td><strong>增长率估计来源</strong></td>
<td>分析师 x3</td>
<td>分析师 x4</td>
<td>分析师 x3</td>
<td>分析师 x1</td>
<td>估计 @ -6.77%</td>
<td>估计 @ -4.56%</td>
<td>估计 @ -3.01%</td>
<td>估计 @ -1.93%</td>
<td>估计 @ -1.17%</td>
<td>估计 @ -0.64%</td>
</tr>
<tr>
<td><strong>现值（¥，百万）折现 @ 5.2%</strong></td>
<td>JP¥108.9k</td>
<td>JP¥82.9k</td>
<td>JP¥67.6k</td>
<td>JP¥72.0k</td>
<td>JP¥63.8k</td>
<td>JP¥57.9k</td>
<td>JP¥53.4k</td>
<td>JP¥49.8k</td>
<td>JP¥46.8k</td>
<td>JP¥44.2k</td>
</tr>
</tbody>
</table>
<p><em>(&#34;Est&#34; = FCF 增长率由 Simply Wall St 估计)</em></p>
<p><strong>10 年现金流现值（PVCF）</strong> = JP¥647b</p>
<p>在计算初始 10 年期间未来现金流的现值后，我们需要计算终值，这包括第一阶段之后的所有未来现金流。使用戈登增长公式计算终值，未来年增长率等于 10 年期国债收益率的 5 年平均值 0.6%。我们以 5.2% 的股本成本将终端现金流折现到今天的价值。</p>
<p><strong>终值（TV）</strong> = FCF2035 × (1 + g) ÷ (r – g) = JP¥73b× (1 + 0.6%) ÷ (5.2%– 0.6%) = JP¥1.6t</p>
<p><strong>终值现值（PVTV）</strong> = TV / (1 + r) 10= JP¥1.6t÷ ( 1 + 5.2%) 10= JP¥976b</p>
<p>总价值或股权价值是未来现金流现值的总和，在这种情况下为 JP¥1.6t。在最后一步中，我们将股权价值除以流通在外的股份数量。相对于当前股价 2.6k 日元，该公司似乎略微被低估，折扣为 29%。任何计算中的假设对估值有很大影响，因此最好将其视为粗略估计，而非精确到最后一分。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/874054-dcf-1-dark-2/1762466306590?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/874054-dcf-1-dark-2/1762466306590"/></p>
<p>TSE:7912 折现现金流 2025 年 11 月 6 日</p>
<h2>重要假设</h2>
<p>现在，折现现金流中最重要的输入是折现率，当然还有实际现金流。如果你不同意这些结果，可以自己尝试计算并调整假设。DCF 也没有考虑行业的周期性或公司的未来资本需求，因此并不能全面反映公司的潜在表现。考虑到我们将大日本印刷视为潜在股东，使用股本成本作为折现率，而不是资本成本（或加权平均资本成本，WACC），后者考虑了债务。在此计算中，我们使用了 5.2%，这是基于 0.868 的杠杆贝塔。贝塔是衡量股票相对于整体市场波动性的指标。我们从全球可比公司的行业平均贝塔中获得我们的贝塔，并在 0.8 到 2.0 之间施加限制，这是一个适合稳定企业的合理范围。</p>
<p>查看我们对大日本印刷的最新分析</p>
<h3>大日本印刷的 SWOT 分析</h3>
<p><strong>优势</strong></p>
<ul>
<li>债务不被视为风险。</li>
</ul>
<ul>
<li>股息由收益和现金流覆盖。</li>
</ul>
<p>7912 的股息信息。</p>
<p><strong>劣势</strong></p>
<ul>
<li>过去一年收益下降。</li>
</ul>
<ul>
<li>与商业服务市场前 25% 的股息支付者相比，股息较低。</li>
</ul>
<p><strong>机会</strong></p>
<ul>
<li>基于市盈率和估计公允价值的良好价值。</li>
</ul>
<p><strong>威胁</strong></p>
<ul>
<li>预计未来 3 年年收益将下降。</li>
</ul>
<p>分析师对 7912 还有什么其他预测？</p>
<h2>展望：</h2>
<p>尽管重要，但 DCF 计算理想情况下不应是你对一家公司进行分析时唯一关注的内容。使用 DCF 模型无法获得万无一失的估值。最好是应用不同的情景和假设，看看它们如何影响公司的估值。如果一家公司以不同的速度增长，或者其股本成本或无风险利率发生剧烈变化，结果可能会大相径庭。为什么内在价值高于当前股价？对于大日本印刷，我们整理了三个你应该考虑的重要因素：</p>
<ol>
<li><strong>风险</strong>：在考虑投资该公司之前，你应该了解我们发现的 <strong>大日本印刷的一个警示信号</strong>。</li>
<li><strong>未来收益</strong>：7912 的增长率与其同行和更广泛市场相比如何？通过与我们的免费分析师增长预期图表互动，深入了解未来几年的分析师共识数字。</li>
<li><strong>其他稳健企业</strong>：低负债、高股本回报和良好的过往表现是强大企业的基础。为什么不探索我们互动的稳健企业股票列表，看看是否还有其他你可能未考虑的公司！</li>
</ol>
<p>PS. Simply Wall St 应用程序每天对东京证券交易所的每只股票进行折现现金流估值。如果你想找到其他股票的计算结果，只需在这里搜索。</p>

大日本印刷(ADR)

<p>大日本印刷 (ADR)（东京证券交易所代码：7912）预计被低估 29%，其公允价值为 3,680 日元，而当前股价为 2,607 日元。分析师设定的目标价为 2,673 日元，低于公允价值估计的 27%。该估值基于折现现金流（DCF）模型，该模型考虑了未来现金流及其现值。分析表明，该股票的交易价格存在折扣，但强调 DCF 模型有其局限性，应视为粗略估计</p>

<h3>Key Insights</h3>
<div class="lb-trans"><h3>关键洞察</h3>
</div><ul>
<li>Using the 2 Stage Free Cash Flow to Equity, Dai Nippon Printing fair value estimate is JP¥3,680</li>
<li>Dai Nippon Printing is estimated to be 29% undervalued based on current share price of JP¥2,607</li>
<li>Analyst price target for 7912 is JP¥2,673 which is 27% below our fair value estimate</li>
</ul>
<div class="lb-trans"><ul>
<li>使用两阶段自由现金流折现法，大日本印刷的公允价值估计为 3,680 日元</li>
<li>根据当前股价 2,607 日元，大日本印刷估计被低估 29%</li>
<li>分析师对 7912 的目标股价为 2,673 日元，低于我们公允价值估计的 27%</li>
</ul>
</div><p>Does the November share price for Dai Nippon Printing Co., Ltd. (TSE:7912) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by estimating the company's future cash flows and discounting them to their present value. The Discounted Cash Flow (DCF) model is the tool we will apply to do this. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.</p>
<div class="lb-trans"><p>大日本印刷株式会社（TSE:7912）11 月的股价是否反映了其真实价值？今天，我们将通过估算公司的未来现金流并将其折现到现值来估计股票的内在价值。我们将应用折现现金流（DCF）模型来实现这一点。在你认为自己无法理解之前，请继续阅读！实际上，这比你想象的要简单得多。</p>
</div><p>We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.</p>
<div class="lb-trans"><p>我们通常认为，一家公司的价值是其未来将产生的所有现金流的现值。然而，DCF 只是众多估值指标中的一种，并非没有缺陷。任何对内在价值感兴趣的人都应该阅读一下 Simply Wall St 的分析模型。</p>
</div><p>This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.</p>
<div class="lb-trans"><p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
</div><h2>Step By Step Through The Calculation</h2>
<div class="lb-trans"><h2>逐步计算</h2>
</div><p>We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.</p>
<div class="lb-trans"><p>我们使用的是一种称为两阶段模型的方法，这意味着我们有两个不同的现金流增长率阶段。通常，第一个阶段是较高的增长，第二个阶段是较低的增长。在第一个阶段，我们需要估算未来十年内公司的现金流。在可能的情况下，我们使用分析师的估计，但当这些不可用时，我们会从上一个估计或报告值中推断出之前的自由现金流（FCF）。我们假设自由现金流减少的公司将减缓其缩减速度，而自由现金流增长的公司在此期间将看到其增长速度放缓。我们这样做是为了反映出，早期的增长往往比后期的增长放缓得更快。</p>
</div><p>Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value:</p>
<div class="lb-trans"><p>通常我们假设今天的一美元比未来的一美元更有价值，因此这些未来现金流的总和会折现到今天的价值：</p>
</div><h4>10-year free cash flow (FCF) estimate</h4>
<div class="lb-trans"><h4>10 年自由现金流（FCF）估计</h4>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>Levered FCF (¥, Millions)</strong></td>
<td>JP¥114.5b</td>
<td>JP¥91.7b</td>
<td>JP¥78.6b</td>
<td>JP¥88.0b</td>
<td>JP¥82.0b</td>
<td>JP¥78.3b</td>
<td>JP¥75.9b</td>
<td>JP¥74.5b</td>
<td>JP¥73.6b</td>
<td>JP¥73.1b</td>
</tr>
<tr>
<td><strong>Growth Rate Estimate Source</strong></td>
<td>Analyst x3</td>
<td>Analyst x4</td>
<td>Analyst x3</td>
<td>Analyst x1</td>
<td>Est @ -6.77%</td>
<td>Est @ -4.56%</td>
<td>Est @ -3.01%</td>
<td>Est @ -1.93%</td>
<td>Est @ -1.17%</td>
<td>Est @ -0.64%</td>
</tr>
<tr>
<td><strong>Present Value (¥, Millions) Discounted @ 5.2%</strong></td>
<td>JP¥108.9k</td>
<td>JP¥82.9k</td>
<td>JP¥67.6k</td>
<td>JP¥72.0k</td>
<td>JP¥63.8k</td>
<td>JP¥57.9k</td>
<td>JP¥53.4k</td>
<td>JP¥49.8k</td>
<td>JP¥46.8k</td>
<td>JP¥44.2k</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>杠杆自由现金流（¥，百万）</strong></td>
<td>JP¥114.5b</td>
<td>JP¥91.7b</td>
<td>JP¥78.6b</td>
<td>JP¥88.0b</td>
<td>JP¥82.0b</td>
<td>JP¥78.3b</td>
<td>JP¥75.9b</td>
<td>JP¥74.5b</td>
<td>JP¥73.6b</td>
<td>JP¥73.1b</td>
</tr>
<tr>
<td><strong>增长率估计来源</strong></td>
<td>分析师 x3</td>
<td>分析师 x4</td>
<td>分析师 x3</td>
<td>分析师 x1</td>
<td>估计 @ -6.77%</td>
<td>估计 @ -4.56%</td>
<td>估计 @ -3.01%</td>
<td>估计 @ -1.93%</td>
<td>估计 @ -1.17%</td>
<td>估计 @ -0.64%</td>
</tr>
<tr>
<td><strong>现值（¥，百万）折现 @ 5.2%</strong></td>
<td>JP¥108.9k</td>
<td>JP¥82.9k</td>
<td>JP¥67.6k</td>
<td>JP¥72.0k</td>
<td>JP¥63.8k</td>
<td>JP¥57.9k</td>
<td>JP¥53.4k</td>
<td>JP¥49.8k</td>
<td>JP¥46.8k</td>
<td>JP¥44.2k</td>
</tr>
</tbody>
</table>
</div><p><em>(&#34;Est&#34; = FCF growth rate estimated by Simply Wall St)</em></p>
<div class="lb-trans"><p><em>(&#34;Est&#34; = FCF 增长率由 Simply Wall St 估计)</em></p>
</div><p><strong>Present Value of 10-year Cash Flow (PVCF)</strong> = JP¥647b</p>
<div class="lb-trans"><p><strong>10 年现金流现值（PVCF）</strong> = JP¥647b</p>
</div><p>After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 0.6%. We discount the terminal cash flows to today's value at a cost of equity of 5.2%.</p>
<div class="lb-trans"><p>在计算初始 10 年期间未来现金流的现值后，我们需要计算终值，这包括第一阶段之后的所有未来现金流。使用戈登增长公式计算终值，未来年增长率等于 10 年期国债收益率的 5 年平均值 0.6%。我们以 5.2% 的股本成本将终端现金流折现到今天的价值。</p>
</div><p><strong>Terminal Value (TV)</strong> = FCF2035 × (1 + g) ÷ (r – g) = JP¥73b× (1 + 0.6%) ÷ (5.2%– 0.6%) = JP¥1.6t</p>
<div class="lb-trans"><p><strong>终值（TV）</strong> = FCF2035 × (1 + g) ÷ (r – g) = JP¥73b× (1 + 0.6%) ÷ (5.2%– 0.6%) = JP¥1.6t</p>
</div><p><strong>Present Value of Terminal Value (PVTV)</strong> = TV / (1 + r) 10= JP¥1.6t÷ ( 1 + 5.2%) 10= JP¥976b</p>
<div class="lb-trans"><p><strong>终值现值（PVTV）</strong> = TV / (1 + r) 10= JP¥1.6t÷ ( 1 + 5.2%) 10= JP¥976b</p>
</div><p>The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is JP¥1.6t. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of JP¥2.6k, the company appears a touch undervalued at a 29% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.</p>
<div class="lb-trans"><p>总价值或股权价值是未来现金流现值的总和，在这种情况下为 JP¥1.6t。在最后一步中，我们将股权价值除以流通在外的股份数量。相对于当前股价 2.6k 日元，该公司似乎略微被低估，折扣为 29%。任何计算中的假设对估值有很大影响，因此最好将其视为粗略估计，而非精确到最后一分。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/874054-dcf-1-dark-2/1762466306590" alt="" original-src="https://images.simplywall.st/asset/chart/874054-dcf-1-dark-2/1762466306590"/></p>
<p>TSE:7912 Discounted Cash Flow November 6th 2025</p>
<div class="lb-trans"><p>TSE:7912 折现现金流 2025 年 11 月 6 日</p>
</div><h2>Important Assumptions</h2>
<div class="lb-trans"><h2>重要假设</h2>
</div><p>Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Dai Nippon Printing as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 5.2%, which is based on a levered beta of 0.868. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.</p>
<div class="lb-trans"><p>现在，折现现金流中最重要的输入是折现率，当然还有实际现金流。如果你不同意这些结果，可以自己尝试计算并调整假设。DCF 也没有考虑行业的周期性或公司的未来资本需求，因此并不能全面反映公司的潜在表现。考虑到我们将大日本印刷视为潜在股东，使用股本成本作为折现率，而不是资本成本（或加权平均资本成本，WACC），后者考虑了债务。在此计算中，我们使用了 5.2%，这是基于 0.868 的杠杆贝塔。贝塔是衡量股票相对于整体市场波动性的指标。我们从全球可比公司的行业平均贝塔中获得我们的贝塔，并在 0.8 到 2.0 之间施加限制，这是一个适合稳定企业的合理范围。</p>
</div><p>See our latest analysis for Dai Nippon Printing</p>
<div class="lb-trans"><p>查看我们对大日本印刷的最新分析</p>
</div><h3>SWOT Analysis for Dai Nippon Printing</h3>
<div class="lb-trans"><h3>大日本印刷的 SWOT 分析</h3>
</div><p><strong>Strength</strong></p>
<div class="lb-trans"><p><strong>优势</strong></p>
</div><ul>
<li>Debt is not viewed as a risk.</li>
</ul>
<div class="lb-trans"><ul>
<li>债务不被视为风险。</li>
</ul>
</div><ul>
<li>Dividends are covered by earnings and cash flows.</li>
</ul>
<div class="lb-trans"><ul>
<li>股息由收益和现金流覆盖。</li>
</ul>
</div><p>Dividend information for 7912.</p>
<div class="lb-trans"><p>7912 的股息信息。</p>
</div><p><strong>Weakness</strong></p>
<div class="lb-trans"><p><strong>劣势</strong></p>
</div><ul>
<li>Earnings declined over the past year.</li>
</ul>
<div class="lb-trans"><ul>
<li>过去一年收益下降。</li>
</ul>
</div><ul>
<li>Dividend is low compared to the top 25% of dividend payers in the Commercial Services market.</li>
</ul>
<div class="lb-trans"><ul>
<li>与商业服务市场前 25% 的股息支付者相比，股息较低。</li>
</ul>
</div><p><strong>Opportunity</strong></p>
<div class="lb-trans"><p><strong>机会</strong></p>
</div><ul>
<li>Good value based on P/E ratio and estimated fair value.</li>
</ul>
<div class="lb-trans"><ul>
<li>基于市盈率和估计公允价值的良好价值。</li>
</ul>
</div><p><strong>Threat</strong></p>
<div class="lb-trans"><p><strong>威胁</strong></p>
</div><ul>
<li>Annual earnings are forecast to decline for the next 3 years.</li>
</ul>
<div class="lb-trans"><ul>
<li>预计未来 3 年年收益将下降。</li>
</ul>
</div><p>What else are analysts forecasting for 7912?</p>
<div class="lb-trans"><p>分析师对 7912 还有什么其他预测？</p>
</div><h2>Looking Ahead:</h2>
<div class="lb-trans"><h2>展望：</h2>
</div><p>Whilst important, the DCF calculation ideally won't be the sole piece of analysis you scrutinize for a company. It's not possible to obtain a foolproof valuation with a DCF model. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Why is the intrinsic value higher than the current share price? For Dai Nippon Printing, we've put together three pertinent factors you should consider:</p>
<div class="lb-trans"><p>尽管重要，但 DCF 计算理想情况下不应是你对一家公司进行分析时唯一关注的内容。使用 DCF 模型无法获得万无一失的估值。最好是应用不同的情景和假设，看看它们如何影响公司的估值。如果一家公司以不同的速度增长，或者其股本成本或无风险利率发生剧烈变化，结果可能会大相径庭。为什么内在价值高于当前股价？对于大日本印刷，我们整理了三个你应该考虑的重要因素：</p>
</div><ol>
<li><strong>Risks</strong>: You should be aware of the <strong>1 warning sign for Dai Nippon Printing</strong> we've uncovered before considering an investment in the company.</li>
<li><strong>Future Earnings</strong>: How does 7912's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.</li>
<li><strong>Other Solid Businesses</strong>: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!</li>
</ol>
<div class="lb-trans"><ol>
<li><strong>风险</strong>：在考虑投资该公司之前，你应该了解我们发现的 <strong>大日本印刷的一个警示信号</strong>。</li>
<li><strong>未来收益</strong>：7912 的增长率与其同行和更广泛市场相比如何？通过与我们的免费分析师增长预期图表互动，深入了解未来几年的分析师共识数字。</li>
<li><strong>其他稳健企业</strong>：低负债、高股本回报和良好的过往表现是强大企业的基础。为什么不探索我们互动的稳健企业股票列表，看看是否还有其他你可能未考虑的公司！</li>
</ol>
</div><p>PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the TSE every day. If you want to find the calculation for other stocks just search here.</p>
<div class="lb-trans"><p>PS. Simply Wall St 应用程序每天对东京证券交易所的每只股票进行折现现金流估值。如果你想找到其他股票的计算结果，只需在这里搜索。</p>
</div>

大日本印刷 (ADR) (TSE:7912) 是否以 29% 的折扣进行交易？