<p>泰尔茂（TSE:4543）刚刚更新了其全年的财务展望，反映了关于汇率、定价行动带来的收益以及与收购和业务组合审查相关的成本的新假设。该公司还宣布了即将提高的股息。</p>
<p>查看我们对泰尔茂的最新分析。</p>
<p>在年初经历了一波乐观情绪后，泰尔茂的股价已大幅回落，今年迄今下跌了 20.18%，市场正在围绕最新的指导和盈利目标进行重新评估。不过，长期持有者在过去三年中获得了 25% 的总股东回报。这表明，近期的动能有所减弱，但公司的基本面和在先进治疗领域的新领导层仍可能在执行改善的情况下提供未来的上行空间。</p>
<p>如果泰尔茂最近的战略举措让你感到好奇，你可能会发现探索更多医疗创新者是值得的。查看完整列表，免费获取。</p>
<p>随着公司目前的交易价格低于分析师的目标价，并实施新的领导策略，考虑到其盈利能力的改善，泰尔茂是否被低估，还是投资者已经将公司的未来增长价格化？</p>
<h2>最受欢迎的叙述：27% 被低估</h2>
<p>根据泰尔茂的叙述公允价值设定为¥3,293，其最后收盘价与此之间的差距表明存在重大低估。是什么财务假设驱动了如此乐观的案例？最受欢迎的观点依赖于运营动能和预计的利润率扩张。</p>
<blockquote>
<p><em>定价举措，特别是在心血管和神经血管领域，比预期更有效，价格上涨已嵌入合同中，并且通过合同续签预计会有进一步的价格改善，尽管预计会受到关税的阻力，但这支持了更高的毛利和营业利润率。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>好奇定价能力、利润率扩张和大胆的未来预测如何塑造如此显著的估值差距？这一乐观情景背后的真实数字绝非普通。探索叙述，看看哪些增长杠杆和现金流假设可能重写预期。</p>
<p><strong>结果：公允价值为¥3,293（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，持续的关税压力和中国竞争加剧仍可能压缩利润率，并在这些挑战未得到妥善管理的情况下减缓泰尔茂的动能。</p>
<p>了解泰尔茂叙述的关键风险。</p>
<h2>自建泰尔茂叙述</h2>
<p>如果你有不同的看法或想自己深入数字，构建你自己的泰尔茂观点只需不到三分钟。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>准备好更多聪明的投资举措了吗？</h2>
<p>通过采取行动保持领先。这些股票想法太好而不容忽视。在其他人注意到之前，看看你可以添加到投资组合中的内容。</p>
<ul>
<li>利用人工智能的快速发展，投资这 26 只正在塑造未来行业的 AI 便士股票。</li>
<li>通过查看这些 16 只收益率超过 3% 的股息股票，确保稳定的收入，这些收益率可能会提升你的回报超出市场平均水平。</li>
<li>利用这些 908 只基于现金流的被低估股票，交易价格低于其内在价值，提供聪明购买的机会。</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，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们的目标是为你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 (ADR)（东京证券交易所代码：4543）更新了其全年财务展望，反映了关于汇率、定价措施和与收购相关成本的新假设。该公司宣布将提高即将到来的股息。尽管年初至今股价下跌了 20.18%，但长期持有者在三年内获得了 25% 的回报。分析师们对泰尔茂是否被低估展开讨论，认为其公允价值为¥3,293，主要受到运营势头和利润率扩张的推动。然而，关税压力和中国市场的竞争带来了风险。Simply Wall St 提供了详细分析，但不提供财务建议</p>

<p>Terumo (TSE:4543) just updated its full-year financial outlook, reflecting new assumptions around exchange rates, gains from pricing actions, and costs related to acquisitions and business portfolio reviews. The company also announced a higher upcoming dividend.</p>
<div class="lb-trans"><p>泰尔茂（TSE:4543）刚刚更新了其全年的财务展望，反映了关于汇率、定价行动带来的收益以及与收购和业务组合审查相关的成本的新假设。该公司还宣布了即将提高的股息。</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>After riding a wave of optimism earlier in the year, Terumo’s share price has pulled back sharply with a 20.18% year-to-date decline, as the market recalibrates around the latest guidance and moving targets for profitability. Still, longer-term holders have seen 25% total shareholder returns over the past three years. This suggests that momentum has faded lately, but the company’s fundamentals and new leadership in advanced therapeutics may still offer future upside if execution improves.</p>
<div class="lb-trans"><p>在年初经历了一波乐观情绪后，泰尔茂的股价已大幅回落，今年迄今下跌了 20.18%，市场正在围绕最新的指导和盈利目标进行重新评估。不过，长期持有者在过去三年中获得了 25% 的总股东回报。这表明，近期的动能有所减弱，但公司的基本面和在先进治疗领域的新领导层仍可能在执行改善的情况下提供未来的上行空间。</p>
</div><p>If Terumo’s recent strategic moves got you curious, you might find it rewarding to explore more healthcare innovators. See the full list for free with our See the full list for free..</p>
<div class="lb-trans"><p>如果泰尔茂最近的战略举措让你感到好奇，你可能会发现探索更多医疗创新者是值得的。查看完整列表，免费获取。</p>
</div><p>With the company now trading at a discount to analyst price targets and implementing new leadership strategies, is Terumo undervalued in light of its improved profitability, or have investors already priced in the company’s future growth?</p>
<div class="lb-trans"><p>随着公司目前的交易价格低于分析师的目标价，并实施新的领导策略，考虑到其盈利能力的改善，泰尔茂是否被低估，还是投资者已经将公司的未来增长价格化？</p>
</div><h2>Most Popular Narrative: 27% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：27% 被低估</h2>
</div><p>With Terumo’s narrative fair value set at ¥3,293, the gap against its last close price signals a major undervaluation. What financial assumptions drive such a bullish case? The most popular perspective hinges on both operational momentum and projected margin expansion.</p>
<div class="lb-trans"><p>根据泰尔茂的叙述公允价值设定为¥3,293，其最后收盘价与此之间的差距表明存在重大低估。是什么财务假设驱动了如此乐观的案例？最受欢迎的观点依赖于运营动能和预计的利润率扩张。</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, 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，比预期更有效，价格上涨已嵌入合同中，并且通过合同续签预计会有进一步的价格改善，尽管预计会受到关税的阻力，但这支持了更高的毛利和营业利润率。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Curious how pricing power, margin expansion, and bold future projections shape such a striking valuation gap? The real numbers behind this optimistic scenario are anything but ordinary. Explore the narrative to see which growth levers and cash flow assumptions could rewrite expectations.</p>
<div class="lb-trans"><p>好奇定价能力、利润率扩张和大胆的未来预测如何塑造如此显著的估值差距？这一乐观情景背后的真实数字绝非普通。探索叙述，看看哪些增长杠杆和现金流假设可能重写预期。</p>
</div><p><strong>Result: Fair Value of ¥3,293 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为¥3,293（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 pressures and increased competition in China could still squeeze margins and slow Terumo’s momentum if these challenges are not carefully managed.</p>
<div class="lb-trans"><p>然而，持续的关税压力和中国竞争加剧仍可能压缩利润率，并在这些挑战未得到妥善管理的情况下减缓泰尔茂的动能。</p>
</div><p>Find out about the key risks to this Terumo narrative.</p>
<div class="lb-trans"><p>了解泰尔茂叙述的关键风险。</p>
</div><h2>Build Your Own Terumo Narrative</h2>
<div class="lb-trans"><h2>自建泰尔茂叙述</h2>
</div><p>If you see things differently or want to dig into the numbers yourself, crafting your own take on Terumo takes less than three minutes. Do it your way</p>
<div class="lb-trans"><p>如果你有不同的看法或想自己深入数字，构建你自己的泰尔茂观点只需不到三分钟。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>Ready for More Smart Investing Moves?</h2>
<div class="lb-trans"><h2>准备好更多聪明的投资举措了吗？</h2>
</div><p>Stay ahead by taking action. These stock ideas are too good to overlook. See what you could be adding to your portfolio before everyone else catches on.</p>
<div class="lb-trans"><p>通过采取行动保持领先。这些股票想法太好而不容忽视。在其他人注意到之前，看看你可以添加到投资组合中的内容。</p>
</div><ul>
<li>Tap into the rapid evolution of artificial intelligence with these 26 AI penny stocks shaping tomorrow’s industries.</li>
<li>Secure consistent income by checking out these 16 dividend stocks with yields &gt; 3% with yields that could boost your returns beyond the market average.</li>
<li>Capitalize on hidden opportunities with these 908 undervalued stocks based on cash flows trading below their intrinsic value, offering a chance to buy smart.</li>
</ul>
<div class="lb-trans"><ul>
<li>利用人工智能的快速发展，投资这 26 只正在塑造未来行业的 AI 便士股票。</li>
<li>通过查看这些 16 只收益率超过 3% 的股息股票，确保稳定的收入，这些收益率可能会提升你的回报超出市场平均水平。</li>
<li>利用这些 908 只基于现金流的被低估股票，交易价格低于其内在价值，提供聪明购买的机会。</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，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们的目标是为你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）：更新的业绩指引和股息上调引发了新的估值讨论