<p>关于 Donnelley Financial Solutions (DFIN) 的最新评论指出，客户留存率恶化和 ActiveDisclosure 订阅增长放缓。这使得其向软件收入占比过半的转型受到当前和潜在股东的更严格审视。</p>
<p>请查看我们对 Donnelley Financial Solutions 的最新分析。</p>
<p>该股票也感受到了这种压力，年初至今的股价回报率约为负 25%，而 1 年总股东回报率接近负 25%，尽管 5 年总股东回报率仍然保持在舒适的正值。</p>
<p>如果这种波动让你在比较选项，现在可能是扫描市场寻找其他高内部持股的快速增长股票的好时机，这些股票可能提供更强的增长叙述。</p>
<p>目前股票交易价格大幅低于分析师目标价，但对其软件转型的情绪却在恶化，Donnelley Financial Solutions 是被低估的反弹机会，还是市场正确地反映了未来增长的疲软？</p>
<h2>最受欢迎的叙述：28.8% 被低估</h2>
<p>由于叙述的公允价值远高于 DFIN 的最后收盘价，这个故事的关键在于其软件转型是否真正改变未来的盈利能力。</p>
<blockquote>
<p><em>全球监管复杂性持续增加，例如最近的定制股东报告法规以及不断演变的 ESG 和财务披露要求，推动了合规软件（例如 Arc Suite 和 ActiveDisclosure）的持续采用，预计将提升经常性收入并扩大利润率，因为合规从印刷转向基于软件的解决方案。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>好奇温和的收入增长如何仍能支持更高的估值？这个叙述依赖于激进的盈利扩张和随着时间推移的更高利润率。想看看这一判断背后的确切路线图吗？深入了解完整的分析，检验这些假设是否与你自己的观点相符。</p>
<p><strong>结果：公允价值为 64.33 美元（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，持续的印刷下降和软件采用速度低于预期可能会削弱利润扩张，使得盈利更容易受到周期性交易疲软的影响。</p>
<p>了解 Donnelley Financial Solutions 叙述的关键风险。</p>
<h2>估值的另一种角度</h2>
<p>倍数讲述了一个不同的故事。DFIN 的市盈率为 37.4 倍，远高于美国资本市场平均水平的 25 倍、同行平均水平的 18.1 倍，甚至高于其自身的公允比率 25 倍。这里的乐观情绪是否过于高涨？</p>
<p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/0703b776-168f-42c1-8915-88aec93fdf97/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/0703b776-168f-42c1-8915-88aec93fdf97/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NYSE:DFIN 市盈率</p>
<h2>构建你自己的 Donnelley Financial Solutions 叙述</h2>
<p>如果你对数字有不同的看法，或者想自己进行假设压力测试，你可以在几分钟内构建一个新的叙述。按照你的方式进行。</p>
<p>进行 Donnelley Financial Solutions 研究的一个很好的起点是我们的分析，强调 3 个关键收益和 2 个重要警示信号，这些可能会影响你的投资决策。</p>
<h2>寻找更多投资想法？</h2>
<p>在你继续之前，通过锁定符合你风格的新机会来建立更强的观察名单，以免错失潜在收益。</p>
<ul>
<li>通过扫描这些 902 只被低估的股票，捕捉被市场忽视的潜在价值，尽管它们的基本面稳健。</li>
<li>利用这些 30 只重塑医疗和自动化的医疗 AI 股票，顺应结构性顺风，改变护理的交付和分析方式。</li>
<li>通过锁定这些 15 只收益率超过 3% 的股息股票，提升你的收入关注，这些股票由成熟企业支持，提供有吸引力的收益。</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，也未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 对提到的任何股票没有持仓。</em></p>

DFIN

<p>Donnelley Financial Solutions (DFIN) 面临客户留存和订阅增长放缓的挑战，这影响了其软件收入的转型。该股今年迄今已下跌 25%，引发了对其估值的质疑。分析师认为其被低估 28.8%，公允价值为 64.33 美元，但对软件采用和印刷业务下滑的担忧依然存在。DFIN 的市盈率高于行业平均水平，暗示可能存在高估的风险。投资者被建议考虑其他成长型股票，并评估 DFIN 的风险与回报</p>

<p>Fresh commentary on Donnelley Financial Solutions (DFIN) is flagging worsening customer retention and slowing ActiveDisclosure subscription growth. This is putting its push toward a majority software revenue mix under sharper scrutiny for current and prospective shareholders.</p>
<div class="lb-trans"><p>关于 Donnelley Financial Solutions (DFIN) 的最新评论指出，客户留存率恶化和 ActiveDisclosure 订阅增长放缓。这使得其向软件收入占比过半的转型受到当前和潜在股东的更严格审视。</p>
</div><p>See our latest analysis for Donnelley Financial Solutions.</p>
<div class="lb-trans"><p>请查看我们对 Donnelley Financial Solutions 的最新分析。</p>
</div><p>The stock has been feeling that pressure too, with a sharp year to date share price return of around minus 25 percent and a 1 year total shareholder return near minus 25 percent, even though the 5 year total shareholder return is still comfortably positive.</p>
<div class="lb-trans"><p>该股票也感受到了这种压力，年初至今的股价回报率约为负 25%，而 1 年总股东回报率接近负 25%，尽管 5 年总股东回报率仍然保持在舒适的正值。</p>
</div><p>If this kind of volatility has you comparing options, it could be a good time to scan the market for other fast growing stocks with high insider ownership that might offer a stronger growth narrative.</p>
<div class="lb-trans"><p>如果这种波动让你在比较选项，现在可能是扫描市场寻找其他高内部持股的快速增长股票的好时机，这些股票可能提供更强的增长叙述。</p>
</div><p>With shares now trading at a steep discount to analyst targets, yet sentiment souring on its software transition, is Donnelley Financial Solutions an undervalued rebound play or is the market correctly pricing in weaker growth ahead?</p>
<div class="lb-trans"><p>目前股票交易价格大幅低于分析师目标价，但对其软件转型的情绪却在恶化，Donnelley Financial Solutions 是被低估的反弹机会，还是市场正确地反映了未来增长的疲软？</p>
</div><h2>Most Popular Narrative: 28.8% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：28.8% 被低估</h2>
</div><p>With the narrative fair value sitting well above DFIN's last close, the story hinges on whether its software pivot truly transforms future earnings power.</p>
<div class="lb-trans"><p>由于叙述的公允价值远高于 DFIN 的最后收盘价，这个故事的关键在于其软件转型是否真正改变未来的盈利能力。</p>
</div><blockquote>
<p><em>The ongoing global increase in regulatory complexity like the recent Tailored Shareholder Reports regulation and persistent, evolving ESG and financial disclosure demands is driving continued adoption of compliance software (e.g., Arc Suite and ActiveDisclosure), expected to boost recurring revenue and expand margins as compliance shifts from print to software based solutions.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>全球监管复杂性持续增加，例如最近的定制股东报告法规以及不断演变的 ESG 和财务披露要求，推动了合规软件（例如 Arc Suite 和 ActiveDisclosure）的持续采用，预计将提升经常性收入并扩大利润率，因为合规从印刷转向基于软件的解决方案。</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 modest revenue growth can still support a much higher valuation? The narrative leans on aggressive earnings expansion and richer margins over time. Want to see the exact roadmap behind that call? Dive into the full breakdown and test whether those assumptions stack up against your own view.</p>
<div class="lb-trans"><p>好奇温和的收入增长如何仍能支持更高的估值？这个叙述依赖于激进的盈利扩张和随着时间推移的更高利润率。想看看这一判断背后的确切路线图吗？深入了解完整的分析，检验这些假设是否与你自己的观点相符。</p>
</div><p><strong>Result: Fair Value of $64.33 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 64.33 美元（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, persistent print declines and slower than expected software adoption could undermine margin expansion and leave earnings more vulnerable to cyclical transaction weakness.</p>
<div class="lb-trans"><p>然而，持续的印刷下降和软件采用速度低于预期可能会削弱利润扩张，使得盈利更容易受到周期性交易疲软的影响。</p>
</div><p>Find out about the key risks to this Donnelley Financial Solutions narrative.</p>
<div class="lb-trans"><p>了解 Donnelley Financial Solutions 叙述的关键风险。</p>
</div><h2>Another Angle on Valuation</h2>
<div class="lb-trans"><h2>估值的另一种角度</h2>
</div><p>Multiples tell a different story. DFIN trades on a price to earnings ratio of 37.4 times, well above the US Capital Markets average of 25 times, the peer average of 18.1 times, and even its own fair ratio of 25 times. Is optimism here running too hot?</p>
<div class="lb-trans"><p>倍数讲述了一个不同的故事。DFIN 的市盈率为 37.4 倍，远高于美国资本市场平均水平的 25 倍、同行平均水平的 18.1 倍，甚至高于其自身的公允比率 25 倍。这里的乐观情绪是否过于高涨？</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/0703b776-168f-42c1-8915-88aec93fdf97/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/0703b776-168f-42c1-8915-88aec93fdf97/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:DFIN PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NYSE:DFIN 市盈率</p>
</div><h2>Build Your Own Donnelley Financial Solutions Narrative</h2>
<div class="lb-trans"><h2>构建你自己的 Donnelley Financial Solutions 叙述</h2>
</div><p>If you see the numbers differently or want to stress test the assumptions yourself, you can build a fresh narrative in just minutes. Do it your way.</p>
<div class="lb-trans"><p>如果你对数字有不同的看法，或者想自己进行假设压力测试，你可以在几分钟内构建一个新的叙述。按照你的方式进行。</p>
</div><p>A great starting point for your Donnelley Financial Solutions research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>进行 Donnelley Financial Solutions 研究的一个很好的起点是我们的分析，强调 3 个关键收益和 2 个重要警示信号，这些可能会影响你的投资决策。</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>Before you move on, lock in a stronger watchlist by targeting fresh opportunities that match your style, so you are not leaving potential returns on the table.</p>
<div class="lb-trans"><p>在你继续之前，通过锁定符合你风格的新机会来建立更强的观察名单，以免错失潜在收益。</p>
</div><ul>
<li>Capture mispriced potential by scanning these 902 undervalued stocks based on cash flows that the market may be overlooking despite solid fundamentals.</li>
<li>Ride structural tailwinds in medicine and automation with these 30 healthcare AI stocks reshaping how care is delivered and analyzed.</li>
<li>Boost your income focus by targeting these 15 dividend stocks with yields &gt; 3% offering attractive yields backed by established businesses.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过扫描这些 902 只被低估的股票，捕捉被市场忽视的潜在价值，尽管它们的基本面稳健。</li>
<li>利用这些 30 只重塑医疗和自动化的医疗 AI 股票，顺应结构性顺风，改变护理的交付和分析方式。</li>
<li>通过锁定这些 15 只收益率超过 3% 的股息股票，提升你的收入关注，这些股票由成熟企业支持，提供有吸引力的收益。</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，也未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 对提到的任何股票没有持仓。</em></p>
</div>

随着软件转型和保留问题的加剧，重新评估 Donnelley Financial Solutions (DFIN) 的估值