<ul>
<li>如果你一直在想 Concentrix 是一个被低估的便宜货还是一个价值陷阱，你并不孤单。本文将用简单的英语分析这些数字。</li>
<li>最近该股反弹，上周上涨了 3.2%，过去一个月上涨了 10.4%，尽管年初至今仍下跌了 12.5%，过去一年下跌了 11.3%。从更长的时间来看，三年内下跌了 67.8%，五年内下跌了 59.0%。</li>
<li>这种剧烈的表现受到客户体验外包和技术驱动服务情绪变化的影响，投资者重新思考 Concentrix 的客户关系和利润率的持久性。同时，数字化转型和人工智能能力的战略举措引起了人们对市场是否对其长期现金生成过于悲观的新关注。</li>
<li>在我们的框架下，Concentrix 当前的估值检查得分为 6/6，表明该股票在我们使用的每个指标上都被视为低估。接下来，我们将详细说明这些方法是如何运作的，最后以更全面的方式思考其估值对长期投资者的真正含义。</li>
</ul>
<p>了解为什么 Concentrix 在过去一年中 -11.3% 的回报落后于同行。</p>
<h3>方法 1：Concentrix 折现现金流（DCF）分析</h3>
<p>折现现金流（DCF）模型通过预测企业未来能够产生的现金流，并将这些现金流折现回今天，来估算企业的价值。</p>
<p>对于 Concentrix，最新的十二个月自由现金流约为 5.07 亿美元。分析师预计这一数字将稳步增长，Simply Wall St 将其预测延伸至前几年之后。在此基础上，预计到 2030 年，年自由现金流将达到约 10 亿美元。这在 2026 年中期的 8.0 亿美元范围到 2035 年超过 12 亿美元的跃升中得以体现。</p>
<p>使用 2 阶段自由现金流到股本模型将所有这些折现现金流相加，得出的内在价值约为每股 173 美元。与当前市场价格相比，这意味着该股票的交易价格大约有 78.0% 的折扣。这表明投资者对现金生成的预期远低于模型的假设。</p>
<p><strong>结果：被低估</strong></p>
<p>我们的折现现金流（DCF）分析表明 Concentrix 被低估了 78.0%。将其添加到你的观察列表或投资组合中，或发现基于现金流的 895 只更多被低估的股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d563a995-cb14-4087-9970-6f70a27dc974/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/d563a995-cb14-4087-9970-6f70a27dc974/chart/dcf"/></p>
<p>截至 2025 年 12 月的 CNXC 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 Concentrix 的公允价值的更多细节。</p>
<h3>方法 2：Concentrix 市盈率</h3>
<p>对于像 Concentrix 这样的盈利公司，市盈率（PE）通常是评估估值的明确方式，因为它比较了投资者今天支付的价格与企业已经产生的收益。一般来说，较快的增长和较低的风险使得较高的市盈率合理，而较慢或不确定的增长则应以较低的倍数交易。</p>
<p>Concentrix 当前的市盈率约为 7.9 倍，低于专业服务行业平均水平的约 24.9 倍和更广泛的同行组平均水平的约 29.7 倍。Simply Wall St 还计算出一个公允比率为 20.6 倍，这是其对市盈率的专有估算，考虑了 Concentrix 的收益增长特征、利润率、行业、市值和特定风险。</p>
<p>这个公允比率比简单的同行或行业比较更具信息性，因为它试图调整 Concentrix 的增长速度、盈利能力和收益风险，而不是假设所有公司都应获得相同的倍数。由于该股的市盈率为 7.9 倍，而公允比率为 20.6 倍，因此市盈率的视角表明 Concentrix 的估值可能低于这一指标所暗示的水平。</p>
<p><strong>结果：被低估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d563a995-cb14-4087-9970-6f70a27dc974/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="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d563a995-cb14-4087-9970-6f70a27dc974/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NasdaqGS:CNXC 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 1450 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 Concentrix 故事</h3>
<p>我们之前提到过，有一种更好的方式来理解估值，因此让我们向你介绍 Narratives，这是 Simply Wall St 社区页面上的一个简单工具，帮助你将对 Concentrix 故事的个人看法与具体的预测和公允价值联系起来。然后你可以将该公允价值与今天的股价进行比较，以考虑该股票在当前水平上是否看起来有吸引力或不吸引力。</p>
<p>Narrative 是你自己的投资故事，你阐明你认为 Concentrix 的收入、收益和利润率将如何演变。你将这些假设与催化剂或风险（如人工智能整合、Webhelp 协同效应、客户集中或债务）联系起来，然后将其转化为一个公允价值估算，当新的收益、指引或新闻进入市场时，该估算会动态更新。</p>
<p>例如，一位投资者可能会构建一个看涨的 Narrative，依赖于加速的人工智能货币化、上升的利润率和接近当前高分析师目标的公允价值，约为每股 80 美元。另一位可能会采取更谨慎的观点，强调缓慢的收入增长、整合挑战和压缩倍数，接近低目标的 61 美元。Narratives 使这些不同的观点及其影响易于一目了然地进行比较。</p>
<p>你认为 Concentrix 的故事还有更多内容吗？前往我们的社区，看看其他人怎么说！</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d563a995-cb14-4087-9970-6f70a27dc974/chart/quote-price?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/d563a995-cb14-4087-9970-6f70a27dc974/chart/quote-price"/></p>
<p>NasdaqGS:CNXC 1 年股票价格走势图</p>
<p><em>这篇来自 Simply Wall St 的文章具有一般性。<strong>我们仅基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不旨在提供财务建议。</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均没有持仓。</em></p>

CNXC

<p>Concentrix 的股票在三年内下跌了 67.8%，引发了对其估值的质疑。近期在数字化转型和人工智能方面的战略举措引起了关注。折现现金流分析表明，该股票被低估了 78%，预计内在价值为每股 173 美元。市盈率也显示出低估，当前交易市盈率为 7.9 倍，而合理市盈率为 20.6 倍。投资者被鼓励考虑 Concentrix 的长期潜力和市场情绪</p>

<ul>
<li>If you have been wondering whether Concentrix is a beaten down bargain or a value trap, you are not alone. This article will walk through the numbers in plain English.</li>
<li>The stock has bounced recently, up 3.2% over the last week and 10.4% over the past month, even though it is still down 12.5% year to date and 11.3% over the last year. Over a longer horizon, it has seen a much steeper 67.8% slide over three years and 59.0% over five.</li>
<li>That kind of whiplash performance has been shaped by shifting sentiment around customer experience outsourcing and tech enabled services, with investors rethinking how durable Concentrix's client relationships and margins really are. At the same time, strategic moves in digital transformation and AI capabilities have drawn fresh attention to whether the market has become too pessimistic about its long term cash generation.</li>
<li>On our framework Concentrix currently scores a 6/6 valuation check, suggesting the shares screen as undervalued across every metric we use. Next we will unpack exactly how those methods work, before finishing with a more holistic way of thinking about what its valuation really implies for long term investors.</li>
</ul>
<div class="lb-trans"><ul>
<li>如果你一直在想 Concentrix 是一个被低估的便宜货还是一个价值陷阱，你并不孤单。本文将用简单的英语分析这些数字。</li>
<li>最近该股反弹，上周上涨了 3.2%，过去一个月上涨了 10.4%，尽管年初至今仍下跌了 12.5%，过去一年下跌了 11.3%。从更长的时间来看，三年内下跌了 67.8%，五年内下跌了 59.0%。</li>
<li>这种剧烈的表现受到客户体验外包和技术驱动服务情绪变化的影响，投资者重新思考 Concentrix 的客户关系和利润率的持久性。同时，数字化转型和人工智能能力的战略举措引起了人们对市场是否对其长期现金生成过于悲观的新关注。</li>
<li>在我们的框架下，Concentrix 当前的估值检查得分为 6/6，表明该股票在我们使用的每个指标上都被视为低估。接下来，我们将详细说明这些方法是如何运作的，最后以更全面的方式思考其估值对长期投资者的真正含义。</li>
</ul>
</div><p>Find out why Concentrix's -11.3% return over the last year is lagging behind its peers.</p>
<div class="lb-trans"><p>了解为什么 Concentrix 在过去一年中 -11.3% 的回报落后于同行。</p>
</div><h3>Approach 1: Concentrix Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法 1：Concentrix 折现现金流（DCF）分析</h3>
</div><p>A Discounted Cash Flow, or DCF, model estimates what a business is worth by projecting the cash it can generate in the future and then discounting those cash flows back to today.</p>
<div class="lb-trans"><p>折现现金流（DCF）模型通过预测企业未来能够产生的现金流，并将这些现金流折现回今天，来估算企业的价值。</p>
</div><p>For Concentrix, the latest twelve month Free Cash Flow is about $507.0 Million. Analysts expect this to grow steadily, with Simply Wall St extending their forecasts beyond the first few years. On this basis, annual Free Cash Flow is projected to reach roughly $1.0 Billion by 2030. This is shown in the step up from the mid $800 Million range around 2026 to over $1.2 Billion by 2035.</p>
<div class="lb-trans"><p>对于 Concentrix，最新的十二个月自由现金流约为 5.07 亿美元。分析师预计这一数字将稳步增长，Simply Wall St 将其预测延伸至前几年之后。在此基础上，预计到 2030 年，年自由现金流将达到约 10 亿美元。这在 2026 年中期的 8.0 亿美元范围到 2035 年超过 12 亿美元的跃升中得以体现。</p>
</div><p>Adding up all those discounted cash flows using a 2 Stage Free Cash Flow to Equity model gives an estimated intrinsic value of about $173 per share. Compared with the current market price, this implies the stock is trading at roughly a 78.0% discount. This suggests investors are pricing in far weaker cash generation than the model assumes.</p>
<div class="lb-trans"><p>使用 2 阶段自由现金流到股本模型将所有这些折现现金流相加，得出的内在价值约为每股 173 美元。与当前市场价格相比，这意味着该股票的交易价格大约有 78.0% 的折扣。这表明投资者对现金生成的预期远低于模型的假设。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被低估</strong></p>
</div><p>Our Discounted Cash Flow (DCF) analysis suggests Concentrix is undervalued by 78.0%. Track this in your watchlist or portfolio, or discover 895 more undervalued stocks based on cash flows.</p>
<div class="lb-trans"><p>我们的折现现金流（DCF）分析表明 Concentrix 被低估了 78.0%。将其添加到你的观察列表或投资组合中，或发现基于现金流的 895 只更多被低估的股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d563a995-cb14-4087-9970-6f70a27dc974/chart/dcf" alt="" original-src="https://images.simplywall.st/company/d563a995-cb14-4087-9970-6f70a27dc974/chart/dcf"/></p>
<p>CNXC Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 CNXC 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 Concentrix.</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 Concentrix 的公允价值的更多细节。</p>
</div><h3>Approach 2: Concentrix Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：Concentrix 市盈率</h3>
</div><p>For profitable companies like Concentrix, the Price to Earnings, or PE, ratio is often a clear way to gauge valuation because it compares what investors pay today with the earnings the business is already generating. In general, faster growth and lower perceived risk justify a higher PE, while slower or uncertain growth should trade on a lower multiple.</p>
<div class="lb-trans"><p>对于像 Concentrix 这样的盈利公司，市盈率（PE）通常是评估估值的明确方式，因为它比较了投资者今天支付的价格与企业已经产生的收益。一般来说，较快的增长和较低的风险使得较高的市盈率合理，而较慢或不确定的增长则应以较低的倍数交易。</p>
</div><p>Concentrix currently trades on a PE of about 7.9x, which is below both the Professional Services industry average of roughly 24.9x and the wider peer group average of around 29.7x. Simply Wall St also calculates a Fair Ratio of 20.6x, its proprietary estimate of the PE that could be reasonable given Concentrix's earnings growth profile, margins, industry, market cap and specific risks.</p>
<div class="lb-trans"><p>Concentrix 当前的市盈率约为 7.9 倍，低于专业服务行业平均水平的约 24.9 倍和更广泛的同行组平均水平的约 29.7 倍。Simply Wall St 还计算出一个公允比率为 20.6 倍，这是其对市盈率的专有估算，考虑了 Concentrix 的收益增长特征、利润率、行业、市值和特定风险。</p>
</div><p>This Fair Ratio can be more informative than a simple peer or industry comparison because it attempts to adjust for how quickly Concentrix is growing, how profitable it is and how risky its earnings may be, rather than assuming all companies deserve the same multiple. With the shares trading on 7.9x compared with a Fair Ratio of 20.6x, the PE lens suggests that Concentrix may be trading at a lower valuation than this measure implies.</p>
<div class="lb-trans"><p>这个公允比率比简单的同行或行业比较更具信息性，因为它试图调整 Concentrix 的增长速度、盈利能力和收益风险，而不是假设所有公司都应获得相同的倍数。由于该股的市盈率为 7.9 倍，而公允比率为 20.6 倍，因此市盈率的视角表明 Concentrix 的估值可能低于这一指标所暗示的水平。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被低估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d563a995-cb14-4087-9970-6f70a27dc974/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/d563a995-cb14-4087-9970-6f70a27dc974/chart/pe-multiple-vs-industry"/></p>
<p>NasdaqGS:CNXC PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NasdaqGS:CNXC 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1450 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 1450 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 Concentrix Narrative</h3>
<div class="lb-trans"><h3>提升你的决策能力：选择你的 Concentrix 故事</h3>
</div><p>Earlier we mentioned that there is an even better way to understand valuation, so let us introduce you to Narratives, a simple tool on Simply Wall St’s Community page that helps you connect your personal view of Concentrix’s story with a concrete forecast and Fair Value. You can then compare that Fair Value with today’s share price to consider whether the stock looks attractive or unattractive at its current level.</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，因此让我们向你介绍 Narratives，这是 Simply Wall St 社区页面上的一个简单工具，帮助你将对 Concentrix 故事的个人看法与具体的预测和公允价值联系起来。然后你可以将该公允价值与今天的股价进行比较，以考虑该股票在当前水平上是否看起来有吸引力或不吸引力。</p>
</div><p>A Narrative is your own investing storyline, where you spell out how you think Concentrix’s revenue, earnings and margins will evolve. You link those assumptions to catalysts or risks like AI integration, Webhelp synergies, client concentration or debt, and then translate that into a fair value estimate that updates dynamically when new earnings, guidance or news hits the market.</p>
<div class="lb-trans"><p>Narrative 是你自己的投资故事，你阐明你认为 Concentrix 的收入、收益和利润率将如何演变。你将这些假设与催化剂或风险（如人工智能整合、Webhelp 协同效应、客户集中或债务）联系起来，然后将其转化为一个公允价值估算，当新的收益、指引或新闻进入市场时，该估算会动态更新。</p>
</div><p>For example, one investor might build a bullish Narrative that leans on accelerating AI monetisation, rising margins and a Fair Value near the current high analyst target of about $80 per share. Another could take a more cautious view that emphasises slow top line growth, integration challenges and compressed multiples, landing closer to the low target near $61. Narratives make these differing perspectives and their implications easy to compare at a glance.</p>
<div class="lb-trans"><p>例如，一位投资者可能会构建一个看涨的 Narrative，依赖于加速的人工智能货币化、上升的利润率和接近当前高分析师目标的公允价值，约为每股 80 美元。另一位可能会采取更谨慎的观点，强调缓慢的收入增长、整合挑战和压缩倍数，接近低目标的 61 美元。Narratives 使这些不同的观点及其影响易于一目了然地进行比较。</p>
</div><p>Do you think there's more to the story for Concentrix? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>你认为 Concentrix 的故事还有更多内容吗？前往我们的社区，看看其他人怎么说！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d563a995-cb14-4087-9970-6f70a27dc974/chart/quote-price" alt="" original-src="https://images.simplywall.st/company/d563a995-cb14-4087-9970-6f70a27dc974/chart/quote-price"/></p>
<p>NasdaqGS:CNXC 1-Year Stock Price Chart</p>
<div class="lb-trans"><p>NasdaqGS:CNXC 1 年股票价格走势图</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>
<div class="lb-trans"><p><em>这篇来自 Simply Wall St 的文章具有一般性。<strong>我们仅基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不旨在提供财务建议。</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均没有持仓。</em></p>
</div>

在 Concentrix 三年股价下跌 67.8% 之后，现在是否是一个投资机会？