<ul>
<li>想知道 Advanced Drainage Systems 是否被低估，还是其价格合理？你并不孤单，许多投资者正在权衡是否还有上涨空间，或者现在是否是重新考虑的时候。</li>
<li>过去一周，股价上涨了 7.1%，年初至今上涨了 34.3%，在过去五年中回报率达到了令人印象深刻的 119.1%。这些变动反映了市场乐观情绪的变化和长期潜力。</li>
<li>最近的头条新闻突出了公司在可持续水管理方面的持续扩张，以及美国基础设施投资的增长。这些发展增强了对 Advanced Drainage Systems 的信心，并引发了对其股票的新一波兴趣。</li>
<li>尽管兴趣激增，但公司的价值评分为 0 分（满分 6 分），这表明根据我们的估值检查，该公司目前并未被低估。然而，正如你将看到的，估值并不总是那么简单。接下来，我们将分解传统方法，并在本文最后揭示一种更聪明的价值观。</li>
</ul>
<p>Advanced Drainage Systems 在我们的估值检查中仅得 0/6 分。查看我们在完整估值分析中发现的其他警示信号。</p>
<h3>方法 1：Advanced Drainage Systems 折现现金流（DCF）分析</h3>
<p>折现现金流（DCF）模型通过预测未来现金流并将其折现回现值来估算企业今天的价值。这种方法提供了一个估计，说明投资者现在可能合理支付的公司价格，基于其未来的盈利能力。</p>
<p>对于 Advanced Drainage Systems，最近报告的自由现金流为 5.36 亿美元。在接下来的十年中，现金流预计将保持强劲，分析师为前五年提供了年度估计，后续年份则由 Simply Wall St 推算。到 2027 年，自由现金流预计为 5.172 亿美元，到 2035 年预计达到 5.817 亿美元。</p>
<p>DCF 模型计算出的内在价值为每股 108.76 美元。将其与当前市场价格进行比较，显示出隐含折扣为 -41.1%，这意味着该股票的交易价格远高于其预计的公允价值。根据这种方法，Advanced Drainage Systems 的股票在今天的价格下显得明显被高估。</p>
<p><strong>结果：被高估</strong></p>
<p>我们的折现现金流（DCF）分析表明，Advanced Drainage Systems 可能被高估了 41.1%。发现 928 只被低估的股票，或创建自己的筛选器以寻找更好的价值机会。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1706" height="760" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/dcf"/></p>
<p>截至 2025 年 11 月的 WMS 折现现金流</p>
<p>前往我们公司报告的估值部分，了解我们如何得出 Advanced Drainage Systems 的公允价值的更多细节。</p>
<h3>方法 2：Advanced Drainage Systems 价格与收益</h3>
<p>对于盈利的公司，市盈率（PE）是一个广泛使用的估值指标，因为它直接将公司的当前价格与其盈利能力联系起来。这使得市盈率特别适合评估像 Advanced Drainage Systems 这样的成熟企业，因为它们持续产生利润。</p>
<p>解释什么构成 “公允” 市盈率取决于预期增长率和风险等因素。一般来说，盈利增长较高或被认为风险较低的公司可以为其市盈率溢价或更高的市盈率倍数辩护，相比于同一行业中增长较慢或风险较高的公司。</p>
<p>从数字来看，Advanced Drainage Systems 的市盈率为 26 倍，显著高于建筑行业的平均水平 19 倍及其同行的平均水平 18 倍。从表面上看，这表明该股票的定价高于其直接竞争对手和更广泛行业的水平。</p>
<p>然而，Simply Wall St 引入了 “公允比率”，它反映了基于公司自身的增长前景、盈利能力、风险特征、市值和行业背景的更细致的市盈率。与基本的同行或行业比较不同，公允比率提供了一个量身定制的基准，回答了这个特定企业是否真正值得溢价或折扣的问题。</p>
<p>在这种情况下，Advanced Drainage Systems 的公允比率为 26 倍，几乎与其当前的市盈率倍数完全匹配。这种一致性表明，市场在考虑其前景、财务实力和风险时，合理地对该公司进行了定价。</p>
<p><strong>结果：大致合理</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/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="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 11 月的 NYSE:WMS 市盈率</p>
<p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现 1440 家内部人士正在大举押注于爆炸性增长的公司。</p>
<h3>提升你的决策能力：选择你的 Advanced Drainage Systems 故事</h3>
<p>我们之前提到过，有一种更好的方式来理解估值，所以让我们向你介绍叙述。叙述是一个简单而强大的工具，帮助你构建数字背后的清晰故事：你陈述自己对公司未来的看法，例如其公允价值、预计收入、盈利和利润率，基于你对其前景和风险的解读。通过将公司的故事与财务预测联系起来，然后与公允价值相联系，叙述使投资者能够超越静态数字，做出动态、基于信念的决策。</p>
<p>在 Simply Wall St 社区页面上提供的叙述使投资变得简单且具有协作性，已有数百万用户在使用。它们会随着新消息或收益的发布而自动更新，帮助你一目了然地看到你的故事是否仍然符合最新事实，以及当前价格是否提供机会。例如，一些 Advanced Drainage Systems 的投资者可能通过预测利润扩张和公允价值为 172 美元来构建一个看涨的叙述，而更谨慎的同行则在周期性需求中看到风险，将其公允价值设定在接近 130 美元。叙述使你能够选择与你的信念相匹配的故事（和价值），并在价格与论点出现分歧时果断行动。</p>
<p>你认为关于 Advanced Drainage Systems 的故事还有更多内容吗？快来我们的社区看看其他人怎么说！</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/community-fair-value?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="582" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/community-fair-value"/></p>
<p>截至 2025 年 11 月的纽约证券交易所：WMS 社区公允价值</p>
<p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们基于历史数据和分析师预测提供评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，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没有持仓。</em></p>

<p>先进排水系统的股票大幅上涨，但估值检查表明其可能被高估。现金流折现分析显示高估幅度为 41.1%，而其市盈率与增长前景相符，表明市场估值合理。尽管在可持续水管理和美国基础设施投资方面有所增长，但该公司的价值评分为 0/6，表明可能存在高估的风险</p>

<ul>
<li>Wondering if Advanced Drainage Systems could be undervalued or is living up to its price tag? You are not alone, as many investors are weighing whether there is room to run or if now is the time to reconsider.</li>
<li>The shares have climbed 7.1% in the past week, are up 34.3% year-to-date, and have returned an impressive 119.1% over the last five years. These movements reflect shifting market optimism and long-term potential.</li>
<li>Recent headlines have highlighted the company's continued expansion in sustainable water management, along with growing infrastructure investments in the U.S. These developments have fueled both confidence in Advanced Drainage Systems and a fresh wave of interest in its stock.</li>
<li>Despite surging interest, the company's value score sits at 0 out of 6, signaling that by our valuation checks, the company is not currently undervalued. However, as you’ll see, valuation is not always so straightforward. Up next, we will break down the traditional approaches and reveal a smarter way to look at value at the end of this article.</li>
</ul>
<div class="lb-trans"><ul>
<li>想知道 Advanced Drainage Systems 是否被低估，还是其价格合理？你并不孤单，许多投资者正在权衡是否还有上涨空间，或者现在是否是重新考虑的时候。</li>
<li>过去一周，股价上涨了 7.1%，年初至今上涨了 34.3%，在过去五年中回报率达到了令人印象深刻的 119.1%。这些变动反映了市场乐观情绪的变化和长期潜力。</li>
<li>最近的头条新闻突出了公司在可持续水管理方面的持续扩张，以及美国基础设施投资的增长。这些发展增强了对 Advanced Drainage Systems 的信心，并引发了对其股票的新一波兴趣。</li>
<li>尽管兴趣激增，但公司的价值评分为 0 分（满分 6 分），这表明根据我们的估值检查，该公司目前并未被低估。然而，正如你将看到的，估值并不总是那么简单。接下来，我们将分解传统方法，并在本文最后揭示一种更聪明的价值观。</li>
</ul>
</div><p>Advanced Drainage Systems scores just 0/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.</p>
<div class="lb-trans"><p>Advanced Drainage Systems 在我们的估值检查中仅得 0/6 分。查看我们在完整估值分析中发现的其他警示信号。</p>
</div><h3>Approach 1: Advanced Drainage Systems Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法 1：Advanced Drainage Systems 折现现金流（DCF）分析</h3>
</div><p>A Discounted Cash Flow (DCF) model estimates what a business is worth today by projecting its future cash flows and then discounting them back to their present value. This approach provides an estimate of what investors might reasonably pay for the company now, based on its future earning power.</p>
<div class="lb-trans"><p>折现现金流（DCF）模型通过预测未来现金流并将其折现回现值来估算企业今天的价值。这种方法提供了一个估计，说明投资者现在可能合理支付的公司价格，基于其未来的盈利能力。</p>
</div><p>For Advanced Drainage Systems, the most recent reported Free Cash Flow is $536 million. Over the next ten years, cash flows are forecast to remain strong, with analysts providing annual estimates for the first five years and further years extrapolated by Simply Wall St. By 2027, Free Cash Flow is projected to be $517.2 million and by 2035 it is expected to reach $581.7 million.</p>
<div class="lb-trans"><p>对于 Advanced Drainage Systems，最近报告的自由现金流为 5.36 亿美元。在接下来的十年中，现金流预计将保持强劲，分析师为前五年提供了年度估计，后续年份则由 Simply Wall St 推算。到 2027 年，自由现金流预计为 5.172 亿美元，到 2035 年预计达到 5.817 亿美元。</p>
</div><p>The DCF model calculates an intrinsic value of $108.76 per share. Comparing this to the current market price reveals an implied discount of -41.1%, meaning the stock is trading well above its projected fair value. According to this approach, Advanced Drainage Systems shares appear significantly overvalued at today's prices.</p>
<div class="lb-trans"><p>DCF 模型计算出的内在价值为每股 108.76 美元。将其与当前市场价格进行比较，显示出隐含折扣为 -41.1%，这意味着该股票的交易价格远高于其预计的公允价值。根据这种方法，Advanced Drainage Systems 的股票在今天的价格下显得明显被高估。</p>
</div><p><strong>Result: OVERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被高估</strong></p>
</div><p>Our Discounted Cash Flow (DCF) analysis suggests Advanced Drainage Systems may be overvalued by 41.1%. Discover 928 undervalued stocks or create your own screener to find better value opportunities.</p>
<div class="lb-trans"><p>我们的折现现金流（DCF）分析表明，Advanced Drainage Systems 可能被高估了 41.1%。发现 928 只被低估的股票，或创建自己的筛选器以寻找更好的价值机会。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/dcf" alt="" original-src="https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/dcf"/></p>
<p>WMS Discounted Cash Flow as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 WMS 折现现金流</p>
</div><p>Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Advanced Drainage Systems.</p>
<div class="lb-trans"><p>前往我们公司报告的估值部分，了解我们如何得出 Advanced Drainage Systems 的公允价值的更多细节。</p>
</div><h3>Approach 2: Advanced Drainage Systems Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：Advanced Drainage Systems 价格与收益</h3>
</div><p>For profitable companies, Price-to-Earnings (PE) is a widely used metric to gauge valuation since it directly relates a company's current price to its earnings power. This makes the PE ratio especially suitable for assessing established businesses like Advanced Drainage Systems, which consistently generate profits.</p>
<div class="lb-trans"><p>对于盈利的公司，市盈率（PE）是一个广泛使用的估值指标，因为它直接将公司的当前价格与其盈利能力联系起来。这使得市盈率特别适合评估像 Advanced Drainage Systems 这样的成熟企业，因为它们持续产生利润。</p>
</div><p>Interpreting what constitutes a &#34;fair&#34; PE ratio depends on factors such as expected growth rates and risk. Generally, companies boasting higher earnings growth or lower perceived risks can justify a premium, or higher PE multiple, compared to slower-growing or riskier firms in the same sector.</p>
<div class="lb-trans"><p>解释什么构成 “公允” 市盈率取决于预期增长率和风险等因素。一般来说，盈利增长较高或被认为风险较低的公司可以为其市盈率溢价或更高的市盈率倍数辩护，相比于同一行业中增长较慢或风险较高的公司。</p>
</div><p>Looking at the numbers, Advanced Drainage Systems trades at a PE of 26x, which is notably above the Building industry average of 19x and its peer average of 18x. On the surface, this suggests the stock is priced at a premium to both its direct competitors and the broader sector.</p>
<div class="lb-trans"><p>从数字来看，Advanced Drainage Systems 的市盈率为 26 倍，显著高于建筑行业的平均水平 19 倍及其同行的平均水平 18 倍。从表面上看，这表明该股票的定价高于其直接竞争对手和更广泛行业的水平。</p>
</div><p>However, Simply Wall St introduces the “Fair Ratio,” which reflects a more nuanced PE based on the company’s own growth outlook, profitability, risk profile, market capitalization, and industry context. Unlike basic peer or sector comparisons, the Fair Ratio presents a tailored benchmark that answers whether a premium or discount is actually warranted for this specific business.</p>
<div class="lb-trans"><p>然而，Simply Wall St 引入了 “公允比率”，它反映了基于公司自身的增长前景、盈利能力、风险特征、市值和行业背景的更细致的市盈率。与基本的同行或行业比较不同，公允比率提供了一个量身定制的基准，回答了这个特定企业是否真正值得溢价或折扣的问题。</p>
</div><p>In this case, Advanced Drainage Systems’ Fair Ratio is 26x, which almost exactly matches its current PE multiple. This alignment indicates the market is valuing the company fairly, considering its prospects, financial strength, and risks.</p>
<div class="lb-trans"><p>在这种情况下，Advanced Drainage Systems 的公允比率为 26 倍，几乎与其当前的市盈率倍数完全匹配。这种一致性表明，市场在考虑其前景、财务实力和风险时，合理地对该公司进行了定价。</p>
</div><p><strong>Result: ABOUT RIGHT</strong></p>
<div class="lb-trans"><p><strong>结果：大致合理</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:WMS PE Ratio as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 NYSE:WMS 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1440 companies where insiders are betting big on explosive growth.</p>
<div class="lb-trans"><p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现 1440 家内部人士正在大举押注于爆炸性增长的公司。</p>
</div><h3>Upgrade Your Decision Making: Choose your Advanced Drainage Systems Narrative</h3>
<div class="lb-trans"><h3>提升你的决策能力：选择你的 Advanced Drainage Systems 故事</h3>
</div><p>Earlier we mentioned that there's an even better way to understand valuation, so let's introduce you to Narratives. Narratives are a simple yet powerful tool that helps you craft a clear story behind the numbers: you state your own view of a company’s future, such as its fair value, projected revenue, earnings, and profit margins, based on how you interpret its outlook and risks. By linking a company's story to a financial forecast and then to a fair value, Narratives let investors move beyond static numbers and make dynamic, conviction-based decisions.</p>
<div class="lb-trans"><p>我们之前提到过，有一种更好的方式来理解估值，所以让我们向你介绍叙述。叙述是一个简单而强大的工具，帮助你构建数字背后的清晰故事：你陈述自己对公司未来的看法，例如其公允价值、预计收入、盈利和利润率，基于你对其前景和风险的解读。通过将公司的故事与财务预测联系起来，然后与公允价值相联系，叙述使投资者能够超越静态数字，做出动态、基于信念的决策。</p>
</div><p>Available in the Simply Wall St Community page, Narratives make investing easy and collaborative, with millions already using them. They update automatically as new news or earnings are released, helping you see at a glance if your story still fits the latest facts and whether the current price offers opportunity. For example, some Advanced Drainage Systems investors might build a bullish Narrative by projecting margin expansion and a fair value of $172, while more cautious peers see risks in cyclical demand and set their fair value closer to $130. Narratives empower you to choose the story (and value) that matches your belief and act decisively when price and thesis diverge.</p>
<div class="lb-trans"><p>在 Simply Wall St 社区页面上提供的叙述使投资变得简单且具有协作性，已有数百万用户在使用。它们会随着新消息或收益的发布而自动更新，帮助你一目了然地看到你的故事是否仍然符合最新事实，以及当前价格是否提供机会。例如，一些 Advanced Drainage Systems 的投资者可能通过预测利润扩张和公允价值为 172 美元来构建一个看涨的叙述，而更谨慎的同行则在周期性需求中看到风险，将其公允价值设定在接近 130 美元。叙述使你能够选择与你的信念相匹配的故事（和价值），并在价格与论点出现分歧时果断行动。</p>
</div><p>Do you think there's more to the story for Advanced Drainage Systems? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>你认为关于 Advanced Drainage Systems 的故事还有更多内容吗？快来我们的社区看看其他人怎么说！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/community-fair-value" alt="" original-src="https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/community-fair-value"/></p>
<p>NYSE:WMS Community Fair Values as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的纽约证券交易所：WMS 社区公允价值</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>
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在持续增长以及美国基础设施投资扩大的背景下，Advanced Drainage Systems 的定价是否合理？