<p>Aurora Innovation（AUR）因在沃斯堡和埃尔帕索之间开通一条主要的商业自动驾驶卡车路线而成为头条新闻。这标志着自动运输领域的加速扩张。</p>
<p>此举与公司将整合下一代 Aurora Driver 硬件的消息同时发布，该硬件旨在降低成本并支持在恶劣天气下的安全操作。</p>
<p>查看我们对 Aurora Innovation 的最新分析。</p>
<p>Aurora Innovation 的势头波动不定，1 天的股价回报上涨 2.1%，但 30 天的股价回报仍下跌 16.3%，年初至今的回报下降 29.2%。尽管产品发布和新的卡车合作伙伴关系提升了长期的乐观情绪，但持续的财务亏损对市场情绪造成了压力。然而，在三年内，总股东回报达到了令人印象深刻的 140%，这提醒人们该公司的大胆押注曾引发过真正的超额表现，尽管风险依然较高。</p>
<p>如果这种技术驱动的进展引起了你的兴趣，可能是时候看看还有谁在取得进展。查看完整列表，免费获取。</p>
<p>然而，随着收益仍深陷负值领域，股价全年表现不佳，现在的关键问题是，Aurora Innovation 的快速运营进展是否意味着市场忽视了潜在价值，还是所有未来增长已经被定价。</p>
<h2>3.6 倍的市净率：是否合理？</h2>
<p>Aurora Innovation 的股票目前以 3.6 倍的市净率交易，低于其直接同行的平均水平 4.4 倍和更广泛的美国软件行业平均水平 3.7 倍。以最后收盘价 4.32 美元计算，这一指标表明投资者对该公司的估值略低于同行基准，暗示当前市场叙事中的折扣。</p>
<p>市净率将公司的市场价值与其账面价值进行比较。对于像 Aurora Innovation 这样的技术创新者来说，这一指标尤其具有说明性，因为它提供了投资者愿意为每一美元净资产支付多少的洞察，即使在公司尚未实现显著盈利或收入规模之前。</p>
<p>尽管 Aurora 的收入有限且持续亏损，但在这一倍数上，其股票价格仍低于同行和行业平均水平。这可能表明市场对 Aurora 的增长路径保持谨慎，或者可能低估了未来商业吸引力的潜力。如果市场情绪发生变化或实际收入进展加速，这一比率有可能缩小与同行的差距。</p>
<p>鉴于分析师未提供合理的比率基准，而我们自己的合理比率也不可用，这一交易水平可能提供了机会，特别是对于那些预期基本面改善的人。</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><strong>结果：市净率为 3.6 倍（被低估）</strong></p>
<p>然而，持续的净亏损和缓慢的收入增长为 Aurora Innovation 带来了不确定性。如果这些趋势持续，可能会限制短期的上行空间。</p>
<p>了解 Aurora Innovation 叙事中的关键风险。</p>
<h2>另一种视角：折现现金流视角</h2>
<p>从不同的角度看 Aurora Innovation，我们的 DCF 模型表明该公司的交易价格约低于其估计的公允价值 31%。这意味着市场在基于未来现金流潜力的基础上低估了该业务。不过，值得考虑的是，这种乐观情绪是否合理，或者风险是否仍然是故事中的主导因素。</p>
<p>深入了解 SWS DCF 模型如何得出其公允价值。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/7052c62e-4a79-4d40-b19e-1ff72c01015d/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/7052c62e-4a79-4d40-b19e-1ff72c01015d/chart/dcf"/></p>
<p>截至 2025 年 11 月的 AUR 折现现金流</p>
<p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看 Aurora Innovation）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 874 只基于现金流的被低估股票。如果您保存筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
<h2>构建您自己的 Aurora Innovation 叙事</h2>
<p>如果您有不同的看法或想自己深入了解细节，构建您自己的观点只需几分钟。按照您的方式进行。</p>
<p>您对 Aurora Innovation 研究的一个很好的起点是我们的分析，突出显示了可能影响您投资决策的两个关键奖励和两个重要警示信号。</p>
<h2>寻找更多投资想法？</h2>
<p>现在是通过发现具有独特增长潜力、稳健基本面或稳定收入的公司来进行更聪明投资的好时机。</p>
<ul>
<li>通过这 25 只在自动化和机器学习方面取得进展的 AI 便士股票，提升您寻找下一个重大突破的机会。</li>
<li>通过浏览这 16 只收益率超过 3% 的分红股票，找到提供丰厚收益的股票，适合希望增强被动收入流的投资者。</li>
<li>在数字金融领域抓住机会，关注这 82 只加密货币和区块链股票，涵盖了在加密货币和区块链领域处于领先地位的公司，预计未来可能实现增长。</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，仅使用无偏见的方法，我们的文章不应被视为财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也不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没有持仓。</em></p>

<p>Aurora Innovation (AUR) 已在沃斯堡和埃尔帕索之间推出了一条自动驾驶卡车运输路线，表明自主运输领域的增长。尽管最近股价上涨了 2.1%，但该股票年初至今下跌了 29.2%。公司的市净率为 3.6 倍，低于行业平均水平，暗示可能被低估。折现现金流分析表明，基于未来现金流，该股票可能被低估 31%。然而，持续的财务亏损和缓慢的收入增长引发了对短期上涨潜力的担忧</p>

<p>Aurora Innovation (AUR) is making headlines as it opens a major commercial self-driving trucking route between Fort Worth and El Paso. This signals accelerated scaling in the autonomous transport space.</p>
<div class="lb-trans"><p>Aurora Innovation（AUR）因在沃斯堡和埃尔帕索之间开通一条主要的商业自动驾驶卡车路线而成为头条新闻。这标志着自动运输领域的加速扩张。</p>
</div><p>This move comes alongside news that the company will integrate its next-generation Aurora Driver hardware, which aims to lower costs and support safe operation in challenging weather.</p>
<div class="lb-trans"><p>此举与公司将整合下一代 Aurora Driver 硬件的消息同时发布，该硬件旨在降低成本并支持在恶劣天气下的安全操作。</p>
</div><p>See our latest analysis for Aurora Innovation.</p>
<div class="lb-trans"><p>查看我们对 Aurora Innovation 的最新分析。</p>
</div><p>Momentum has been choppy for Aurora Innovation, with the 1-day share price return up 2.1% but the 30-day share price return still down 16.3% and the year-to-date figure off by 29.2%. Despite product launches and new trucking partnerships boosting long-term optimism, persistent financial losses have weighed on sentiment. Over three years, though, the total shareholder return is an impressive 140%, which serves as a reminder that the company’s bold bets have sparked periods of real outperformance, even as risks remain elevated.</p>
<div class="lb-trans"><p>Aurora Innovation 的势头波动不定，1 天的股价回报上涨 2.1%，但 30 天的股价回报仍下跌 16.3%，年初至今的回报下降 29.2%。尽管产品发布和新的卡车合作伙伴关系提升了长期的乐观情绪，但持续的财务亏损对市场情绪造成了压力。然而，在三年内，总股东回报达到了令人印象深刻的 140%，这提醒人们该公司的大胆押注曾引发过真正的超额表现，尽管风险依然较高。</p>
</div><p>If this kind of technology-driven progress piques your interest, it might be time to see who else is gaining ground. Check out See the full list for free..</p>
<div class="lb-trans"><p>如果这种技术驱动的进展引起了你的兴趣，可能是时候看看还有谁在取得进展。查看完整列表，免费获取。</p>
</div><p>Yet with earnings still deep in negative territory and a share price that has struggled all year, the decisive question now is whether Aurora Innovation's rapid operational progress means the market is overlooking hidden value, or if all future growth is already priced in.</p>
<div class="lb-trans"><p>然而，随着收益仍深陷负值领域，股价全年表现不佳，现在的关键问题是，Aurora Innovation 的快速运营进展是否意味着市场忽视了潜在价值，还是所有未来增长已经被定价。</p>
</div><h2>Price-to-Book Ratio of 3.6x: Is it justified?</h2>
<div class="lb-trans"><h2>3.6 倍的市净率：是否合理？</h2>
</div><p>Aurora Innovation’s stock is currently trading at a price-to-book ratio of 3.6x, below both its direct peer average of 4.4x and the broader US Software industry average of 3.7x. With a last close share price of $4.32, this measure suggests investors are valuing the business just under its peer group benchmarks, hinting at a discount in the current market narrative.</p>
<div class="lb-trans"><p>Aurora Innovation 的股票目前以 3.6 倍的市净率交易，低于其直接同行的平均水平 4.4 倍和更广泛的美国软件行业平均水平 3.7 倍。以最后收盘价 4.32 美元计算，这一指标表明投资者对该公司的估值略低于同行基准，暗示当前市场叙事中的折扣。</p>
</div><p>The price-to-book ratio compares a company's market value to its book value. For a technology innovator like Aurora Innovation, this metric is particularly telling, as it offers insight into how much investors are willing to pay for every dollar of net assets, even before the company achieves significant profitability or revenue scale.</p>
<div class="lb-trans"><p>市净率将公司的市场价值与其账面价值进行比较。对于像 Aurora Innovation 这样的技术创新者来说，这一指标尤其具有说明性，因为它提供了投资者愿意为每一美元净资产支付多少的洞察，即使在公司尚未实现显著盈利或收入规模之前。</p>
</div><p>Despite Aurora's limited revenues and ongoing losses, the stock is cheaper than both peer and industry averages on this multiple. This could signal that the market remains cautious about Aurora's growth path, or it may be undervaluing the potential for future commercial traction. If market sentiment shifts or tangible revenue progress accelerates, there is room for this ratio to close the gap with peers.</p>
<div class="lb-trans"><p>尽管 Aurora 的收入有限且持续亏损，但在这一倍数上，其股票价格仍低于同行和行业平均水平。这可能表明市场对 Aurora 的增长路径保持谨慎，或者可能低估了未来商业吸引力的潜力。如果市场情绪发生变化或实际收入进展加速，这一比率有可能缩小与同行的差距。</p>
</div><p>Given that analysts do not provide a fair ratio benchmark and our own fair ratio is not available, this trading level could present an opportunity, especially for those anticipating improved fundamentals.</p>
<div class="lb-trans"><p>鉴于分析师未提供合理的比率基准，而我们自己的合理比率也不可用，这一交易水平可能提供了机会，特别是对于那些预期基本面改善的人。</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><strong>Result: Price-to-Book of 3.6x (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：市净率为 3.6 倍（被低估）</strong></p>
</div><p>However, persistent net losses and slow revenue growth raise uncertainty for Aurora Innovation. These trends could potentially limit near-term upside if they continue.</p>
<div class="lb-trans"><p>然而，持续的净亏损和缓慢的收入增长为 Aurora Innovation 带来了不确定性。如果这些趋势持续，可能会限制短期的上行空间。</p>
</div><p>Find out about the key risks to this Aurora Innovation narrative.</p>
<div class="lb-trans"><p>了解 Aurora Innovation 叙事中的关键风险。</p>
</div><h2>Another View: Discounted Cash Flow Perspective</h2>
<div class="lb-trans"><h2>另一种视角：折现现金流视角</h2>
</div><p>Looking at Aurora Innovation with a different lens, our DCF model suggests the company is trading about 31% below its estimated fair value. This implies the market is undervaluing the business based on future cash flow potential. Still, it is worth considering whether that optimism is justified or if risk remains the dominant factor in the story.</p>
<div class="lb-trans"><p>从不同的角度看 Aurora Innovation，我们的 DCF 模型表明该公司的交易价格约低于其估计的公允价值 31%。这意味着市场在基于未来现金流潜力的基础上低估了该业务。不过，值得考虑的是，这种乐观情绪是否合理，或者风险是否仍然是故事中的主导因素。</p>
</div><p>Look into how the SWS DCF model arrives at its fair value.</p>
<div class="lb-trans"><p>深入了解 SWS DCF 模型如何得出其公允价值。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/7052c62e-4a79-4d40-b19e-1ff72c01015d/chart/dcf" alt="" original-src="https://images.simplywall.st/company/7052c62e-4a79-4d40-b19e-1ff72c01015d/chart/dcf"/></p>
<p>AUR Discounted Cash Flow as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 AUR 折现现金流</p>
</div><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Aurora Innovation for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 874 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p>
<div class="lb-trans"><p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看 Aurora Innovation）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 874 只基于现金流的被低估股票。如果您保存筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
</div><h2>Build Your Own Aurora Innovation Narrative</h2>
<div class="lb-trans"><h2>构建您自己的 Aurora Innovation 叙事</h2>
</div><p>If you see things differently or want to dig into the details yourself, it only takes a few minutes to build your own perspective. Do it your way</p>
<div class="lb-trans"><p>如果您有不同的看法或想自己深入了解细节，构建您自己的观点只需几分钟。按照您的方式进行。</p>
</div><p>A great starting point for your Aurora Innovation research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>您对 Aurora Innovation 研究的一个很好的起点是我们的分析，突出显示了可能影响您投资决策的两个关键奖励和两个重要警示信号。</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>Now is a great time to tap into smarter investing by uncovering companies with unique growth potential, solid fundamentals, or steady income for your portfolio.</p>
<div class="lb-trans"><p>现在是通过发现具有独特增长潜力、稳健基本面或稳定收入的公司来进行更聪明投资的好时机。</p>
</div><ul>
<li>Boost your search for the next big breakthrough by targeting tech innovators through these 25 AI penny stocks with advances in automation and machine learning.</li>
<li>Find stocks offering generous yields by browsing these 16 dividend stocks with yields &gt; 3%, perfect for investors who want to strengthen their passive income streams.</li>
<li>Seize opportunities in digital finance with these 82 cryptocurrency and blockchain stocks, featuring leaders in cryptocurrency and blockchain positioned for potential future growth.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过这 25 只在自动化和机器学习方面取得进展的 AI 便士股票，提升您寻找下一个重大突破的机会。</li>
<li>通过浏览这 16 只收益率超过 3% 的分红股票，找到提供丰厚收益的股票，适合希望增强被动收入流的投资者。</li>
<li>在数字金融领域抓住机会，关注这 82 只加密货币和区块链股票，涵盖了在加密货币和区块链领域处于领先地位的公司，预计未来可能实现增长。</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，仅使用无偏见的方法，我们的文章不应被视为财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也不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没有持仓。</em></p>
</div>

Aurora Innovation (AUR)：随着新的沃斯堡至埃尔帕索路线的扩展，评估自动驾驶卡车网络的估值