<p>欧姆龙（TSE:6645）最近的表现喜忧参半，过去一个月股价下滑，但在过去三个月中仍有所上涨。这引发了新的估值问题。</p>
<p>请查看我们对欧姆龙的最新分析。</p>
<p>在约¥4,111 的价格下，最近一周的股价反弹与年初至今的股价回报疲软以及多年来股东总回报显著下降形成对比。这表明尽管有一些乐观的迹象，但动能仍然不稳定。</p>
<p>如果欧姆龙让你重新考虑你的科技投资，可能是时候探索其他高增长的科技和人工智能股票，这些股票可能更符合你的回报和风险偏好。</p>
<p>尽管收益仍在增长，但多年来股东回报深度负面，投资者面临一个关键的估值难题：最近的反弹是否意味着被低估的转机，还是市场已经在消化下一轮增长？</p>
<h2>28.2 倍的市盈率：是否合理？</h2>
<p>欧姆龙的市盈率为 28.2 倍，最近收盘价为¥4,111，这表明其估值偏高，而非便宜。</p>
<p>市盈率将当前股价与公司的每股收益进行比较，直接反映了投资者愿意为每单位利润支付的价格。</p>
<p>对于欧姆龙而言，这一溢价表明市场在为预期的收益增长支付更高的价格，尽管其多年来的股东回报表现不佳，且最近才恢复盈利。然而，相对模型显示出一种被拉伸的状态，目前 28.2 倍的市盈率远高于估计的合理市盈率水平 22.8 倍。如果乐观情绪减退，这一区间可能会成为重力点。</p>
<p>与更广泛的 JP 电子行业相比，后者的平均市盈率为 14.6 倍，欧姆龙的估值显得明显更高，甚至相较于其更接近的同行（市盈率为 26.6 倍）仍然偏高。这突显了未来收益强度已经在股价中被充分定价。</p>
<p>探索欧姆龙的 SWS 合理比率</p>
<p><strong>结果：市盈率为 28.2 倍（被高估）</strong></p>
<p>然而，持续疲软的多年来股东回报和对行业同行的高溢价可能会迅速消退，如果收益增长停滞或利润率压缩。</p>
<p>了解欧姆龙叙述中的关键风险。</p>
<h2>另一种观点：DCF 指向更大的下行空间</h2>
<p>虽然收益倍数将欧姆龙视为昂贵，但我们的 DCF 模型进一步表明，股价远高于估计的合理价值¥2,591.61。如果现金流更接近真实而非情绪，今天的反弹是否只是伪装的价值陷阱？</p>
<p>了解 SWS DCF 模型如何得出其合理价值。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/5768feb1-44a2-4f3c-879f-2798df221f0d/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/5768feb1-44a2-4f3c-879f-2798df221f0d/chart/dcf"/></p>
<p>截至 2025 年 12 月的 6645 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（例如查看欧姆龙）。我们展示了完整的计算过程。你可以在你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 908 只基于现金流的被低估股票。如果你保存了筛选器，我们甚至会在新公司匹配时提醒你——这样你就不会错过潜在机会。</p>
<h2>构建你自己的欧姆龙叙述</h2>
<p>如果你对这个故事有不同的看法，或者更愿意依赖自己的分析，你可以在几分钟内构建一个完整的叙述：按你的方式进行。</p>
<p>你进行欧姆龙研究的一个很好的起点是我们的分析，强调了 2 个关键收益和 2 个可能影响你投资决策的重要警示信号。</p>
<h2>准备好更多高信念的想法了吗？</h2>
<p>在欧姆龙进入你的最终选择之前，利用有针对性的筛选器将更多高潜力机会放在你的雷达上，以便更好地把握下一步。</p>
<ul>
<li>通过扫描这些 908 只基于现金流的被低估股票，尽早捕捉潜在的错误定价，这些股票的强现金流可能尚未在股价中得到充分认可。</li>
<li>通过审查这些 15 只收益率超过 3% 的股息股票，锁定收入机会，这些股票旨在将可靠的分红与可持续的资产负债表相结合。</li>
<li>通过跟踪这些 81 只加密货币和区块链股票，抢占新兴数字金融趋势的先机，这些股票有望在区块链采用加速时受益。</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，我们的文章并不构成财务建议。</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。我们旨在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>

欧姆龙(ADR)

<p>OMRON 的股票最近反弹，引发了估值问题。OMRON 的交易价格为¥4,111，市盈率为 28.2 倍，相较于行业平均水平被认为是高估的。尽管近期盈利表现良好，但多年来的股东回报依然疲软。现金流折现模型显示，股票交易价格高于公允价值，暗示潜在的下行风险。建议投资者探索其他科技股，并在盈利增长停滞时考虑风险。Simply Wall St 提供分析，但不提供财务建议</p>

<p>OMRON (TSE:6645) has had a mixed run lately, with shares slipping over the past month but still edging higher in the past 3 months. This raises a fresh valuation question.</p>
<div class="lb-trans"><p>欧姆龙（TSE:6645）最近的表现喜忧参半，过去一个月股价下滑，但在过去三个月中仍有所上涨。这引发了新的估值问题。</p>
</div><p>See our latest analysis for OMRON.</p>
<div class="lb-trans"><p>请查看我们对欧姆龙的最新分析。</p>
</div><p>At around ¥4,111, the recent one-week share price rebound contrasts with a weak year-to-date share price return and a significant multi-year total shareholder return decline. This suggests that momentum remains tentative, despite some pockets of optimism.</p>
<div class="lb-trans"><p>在约¥4,111 的价格下，最近一周的股价反弹与年初至今的股价回报疲软以及多年来股东总回报显著下降形成对比。这表明尽管有一些乐观的迹象，但动能仍然不稳定。</p>
</div><p>If OMRON has you rethinking your tech exposure, it could be a good moment to explore other high growth tech and AI stocks that might better match your return and risk preferences.</p>
<div class="lb-trans"><p>如果欧姆龙让你重新考虑你的科技投资，可能是时候探索其他高增长的科技和人工智能股票，这些股票可能更符合你的回报和风险偏好。</p>
</div><p>With earnings still growing but multi year shareholder returns deeply negative, investors face a key valuation puzzle: is the recent rebound signalling a mispriced turnaround, or is the market already baking in the next leg of growth?</p>
<div class="lb-trans"><p>尽管收益仍在增长，但多年来股东回报深度负面，投资者面临一个关键的估值难题：最近的反弹是否意味着被低估的转机，还是市场已经在消化下一轮增长？</p>
</div><h2>Price to Earnings of 28.2x: Is it justified?</h2>
<div class="lb-trans"><h2>28.2 倍的市盈率：是否合理？</h2>
</div><p>OMRON trades on a price to earnings ratio of 28.2 times at a last close of ¥4,111, pointing to a premium valuation rather than a bargain tag.</p>
<div class="lb-trans"><p>欧姆龙的市盈率为 28.2 倍，最近收盘价为¥4,111，这表明其估值偏高，而非便宜。</p>
</div><p>The price to earnings multiple compares the current share price with the company’s earnings per share, making it a direct snapshot of how much investors are willing to pay for each unit of profit today.</p>
<div class="lb-trans"><p>市盈率将当前股价与公司的每股收益进行比较，直接反映了投资者愿意为每单位利润支付的价格。</p>
</div><p>For OMRON, that premium suggests the market is paying up for expected earnings growth, despite a difficult multiyear shareholder return profile and only recently restored profitability. Yet relative models flag a stretched setup, with the current 28.2 times earnings sitting well above an estimated fair price to earnings level of 22.8 times. That band could act as a gravity point if optimism fades.</p>
<div class="lb-trans"><p>对于欧姆龙而言，这一溢价表明市场在为预期的收益增长支付更高的价格，尽管其多年来的股东回报表现不佳，且最近才恢复盈利。然而，相对模型显示出一种被拉伸的状态，目前 28.2 倍的市盈率远高于估计的合理市盈率水平 22.8 倍。如果乐观情绪减退，这一区间可能会成为重力点。</p>
</div><p>Against the wider JP Electronic industry, where the average price to earnings multiple sits at 14.6 times, OMRON’s valuation looks markedly richer, and still elevated even versus its closer peer set at 26.6 times. This underscores how much future earnings strength is already priced into the shares.</p>
<div class="lb-trans"><p>与更广泛的 JP 电子行业相比，后者的平均市盈率为 14.6 倍，欧姆龙的估值显得明显更高，甚至相较于其更接近的同行（市盈率为 26.6 倍）仍然偏高。这突显了未来收益强度已经在股价中被充分定价。</p>
</div><p>Explore the SWS fair ratio for OMRON</p>
<div class="lb-trans"><p>探索欧姆龙的 SWS 合理比率</p>
</div><p><strong>Result: Price-to-Earnings of 28.2x (OVERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：市盈率为 28.2 倍（被高估）</strong></p>
</div><p>However, lingering weak multi year shareholder returns and a still rich premium to sector peers could quickly unwind if earnings growth stalls or margins compress.</p>
<div class="lb-trans"><p>然而，持续疲软的多年来股东回报和对行业同行的高溢价可能会迅速消退，如果收益增长停滞或利润率压缩。</p>
</div><p>Find out about the key risks to this OMRON narrative.</p>
<div class="lb-trans"><p>了解欧姆龙叙述中的关键风险。</p>
</div><h2>Another View: DCF Points to Steeper Downside</h2>
<div class="lb-trans"><h2>另一种观点：DCF 指向更大的下行空间</h2>
</div><p>While the earnings multiple paints OMRON as expensive, our DCF model goes further and suggests the shares are trading well above an estimated fair value of ¥2,591.61. If cash flows are closer to the truth than sentiment, is today’s rebound just a value trap in disguise?</p>
<div class="lb-trans"><p>虽然收益倍数将欧姆龙视为昂贵，但我们的 DCF 模型进一步表明，股价远高于估计的合理价值¥2,591.61。如果现金流更接近真实而非情绪，今天的反弹是否只是伪装的价值陷阱？</p>
</div><p>Look into how the SWS DCF model arrives at its fair value.</p>
<div class="lb-trans"><p>了解 SWS DCF 模型如何得出其合理价值。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/5768feb1-44a2-4f3c-879f-2798df221f0d/chart/dcf" alt="" original-src="https://images.simplywall.st/company/5768feb1-44a2-4f3c-879f-2798df221f0d/chart/dcf"/></p>
<p>6645 Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 6645 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 OMRON 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 908 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（例如查看欧姆龙）。我们展示了完整的计算过程。你可以在你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 908 只基于现金流的被低估股票。如果你保存了筛选器，我们甚至会在新公司匹配时提醒你——这样你就不会错过潜在机会。</p>
</div><h2>Build Your Own OMRON Narrative</h2>
<div class="lb-trans"><h2>构建你自己的欧姆龙叙述</h2>
</div><p>If you see the story differently or would rather rely on your own analysis, you can build a full narrative in just minutes: Do it your way.</p>
<div class="lb-trans"><p>如果你对这个故事有不同的看法，或者更愿意依赖自己的分析，你可以在几分钟内构建一个完整的叙述：按你的方式进行。</p>
</div><p>A great starting point for your OMRON 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>你进行欧姆龙研究的一个很好的起点是我们的分析，强调了 2 个关键收益和 2 个可能影响你投资决策的重要警示信号。</p>
</div><h2>Ready for more high conviction ideas?</h2>
<div class="lb-trans"><h2>准备好更多高信念的想法了吗？</h2>
</div><p>Before OMRON makes your final cut, put a few more high potential opportunities on your radar with targeted screens that could sharpen your next move.</p>
<div class="lb-trans"><p>在欧姆龙进入你的最终选择之前，利用有针对性的筛选器将更多高潜力机会放在你的雷达上，以便更好地把握下一步。</p>
</div><ul>
<li>Capture potential mispricings early by scanning these 908 undervalued stocks based on cash flows where strong cash flows might not yet be fully recognised in the share price.</li>
<li>Lock in income opportunities by reviewing these 15 dividend stocks with yields &gt; 3% that aim to combine reliable payouts with sustainable balance sheets.</li>
<li>Get ahead of emerging digital finance trends by tracking these 81 cryptocurrency and blockchain stocks positioned to benefit as blockchain adoption accelerates.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过扫描这些 908 只基于现金流的被低估股票，尽早捕捉潜在的错误定价，这些股票的强现金流可能尚未在股价中得到充分认可。</li>
<li>通过审查这些 15 只收益率超过 3% 的股息股票，锁定收入机会，这些股票旨在将可靠的分红与可持续的资产负债表相结合。</li>
<li>通过跟踪这些 81 只加密货币和区块链股票，抢占新兴数字金融趋势的先机，这些股票有望在区块链采用加速时受益。</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，我们的文章并不构成财务建议。</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。我们旨在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>

欧姆龙 (TSE:6645)：在近期股价反弹后重新评估其估值