<p>杜邦公司（DuPont de Nemours, DD）在 11 月将电子业务剥离为 Qnity Electronics，这一举措重新聚焦了股票，投资者现在正在权衡一个更精简、更专业的杜邦可能带来的成果。</p>
<p>查看我们对杜邦公司的最新分析。</p>
<p>自从 Qnity 剥离以来，杜邦的股价回报波动较大，年初至今的急剧回撤与多年来稳健的总股东回报形成鲜明对比。这表明长期的动能尚未完全破裂。</p>
<p>如果这次投资组合重组让你更广泛地思考未来增长和韧性可能出现的地方，探索内部持股比例高的快速增长股票可能值得一试。</p>
<p>尽管杜邦的交易价格略低于分析师目标，但投资者面临一个关键问题：剥离后的低迷是暂时的错误定价，还是市场已经在考虑下一轮增长？</p>
<h2>最受欢迎的叙述：14.1% 被低估</h2>
<p>杜邦公司最近的收盘价为 40.61 美元，而叙述的公允价值为 47.25 美元，当前定价被视为折扣，依赖于在更窄、更高利润的投资组合中的执行。</p>
<p><em>杜邦在电子领域的加速增长，特别是来自人工智能驱动的应用、先进包装和高性能计算，使公司能够在节点迁移和更广泛的电子市场复苏中捕捉超额收入增长，预计这一趋势将持续到 2025 年及以后。医疗和水务领域的持续强劲表现和战略投资，受全球对清洁水解决方案和医疗产品需求激增的推动，利用有利的人口、可持续性和基础设施趋势，推动高于同行的有机收入增长和利润稳定。</em></p>
<p>阅读完整叙述。</p>
<p>好奇为什么适度的收入假设仍然导致化工公司而非软件巨头的更高盈利特征和溢价未来倍数？该叙述在更精确的组合转变、更高的利润率和对杜邦未来盈利能力的大胆预期上倾斜，但保持了确切的轨迹在幕后。想看看哪些具体的盈利和利润路径被用来证明更高的公允价值，以及这意味着什么样的重新评级吗？</p>
<p><strong>结果：公允价值为 47.25 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，持续存在的 PFAS 责任和对中国的高度依赖意味着法律或地缘政治冲击可能迅速破坏投资者所寄望的利润和重新评级故事。</p>
<p>了解杜邦公司叙述的关键风险。</p>
<h2>估值的另一种角度</h2>
<p>在盈利方面，杜邦的估值仅略显紧张，交易倍数为 23.4 倍，而公允倍数为 22.6 倍，几乎与美国化工行业的平均水平 23.4 倍相同。这几乎没有安全边际，那么这种上涨叙述是否值得这薄弱的估值缓冲？</p>
<p>查看数字对这一价格的看法——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/ea8857c5-4e20-4cf1-81c4-295f243bfa21/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/ea8857c5-4e20-4cf1-81c4-295f243bfa21/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NYSE:DD 市盈率</p>
<h2>构建您自己的杜邦公司叙述</h2>
<p>如果您对这个故事有不同的看法，或者只是想自己深入研究数字，您可以在几分钟内创建一个量身定制的叙述：按您的方式进行。</p>
<p>您对杜邦公司的研究的一个很好的起点是我们的分析，强调了可能影响您投资决策的 3 个关键回报和 3 个重要警示信号。</p>
<h2>寻找更多投资想法？</h2>
<p>在您继续之前，通过在 Simply Wall St 上扫描与您所寻求的优势相匹配的集中股票想法，锁定您下一个潜在赢家。</p>
<ul>
<li>通过瞄准这些 3595 只财务稳健的低价股，捕捉早期阶段的上涨潜力，这些公司已经用稳健的资产负债表和改善的基本面支持了它们的承诺。</li>
<li>通过关注这 26 只人工智能低价股，将您的投资组合置于生产力繁荣的核心，预计随着全球人工智能采用的加速而受益。</li>
<li>通过过滤这些 900 只基于现金流的被低估股票，加速您寻找错误定价机会的步伐，市场预期仍落后于它们的现金流前景的强劲表现。</li>
</ul>
<p><em>这篇文章由 Simply Wall St 撰写，性质一般。<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> 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。我们旨在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>

杜邦

<p>杜邦最近将其电子部门剥离为 Qnity Electronics，导致股票重新聚焦。尽管股价回报波动不定，但杜邦被视为被低估，目前交易价格低于分析师目标。该公司在人工智能驱动的应用和医疗保健领域具备增长潜力，但面临 PFAS 责任和对中国市场的风险。公允价值估计为 47.25 美元，目前的定价被视为折扣。投资者正在考虑剥离后的低迷是暂时的还是未来增长的指示</p>

<p>The recent spin off of DuPont de Nemours (DD) Electronics into Qnity Electronics in November has refocused the stock, with investors now weighing what a leaner and more specialized DuPont might deliver next.</p>
<div class="lb-trans"><p>杜邦公司（DuPont de Nemours, DD）在 11 月将电子业务剥离为 Qnity Electronics，这一举措重新聚焦了股票，投资者现在正在权衡一个更精简、更专业的杜邦可能带来的成果。</p>
</div><p>See our latest analysis for DuPont de Nemours.</p>
<div class="lb-trans"><p>查看我们对杜邦公司的最新分析。</p>
</div><p>Since the Qnity spin off, DuPont’s share price return has been choppy, with a steep year to date pullback contrasting with a solid multi year total shareholder return. This suggests that longer term momentum has not fully broken.</p>
<div class="lb-trans"><p>自从 Qnity 剥离以来，杜邦的股价回报波动较大，年初至今的急剧回撤与多年来稳健的总股东回报形成鲜明对比。这表明长期的动能尚未完全破裂。</p>
</div><p>If this portfolio reshuffle has you thinking more broadly about where growth and resilience might show up next, it could be worth exploring fast growing stocks with high insider ownership.</p>
<div class="lb-trans"><p>如果这次投资组合重组让你更广泛地思考未来增长和韧性可能出现的地方，探索内部持股比例高的快速增长股票可能值得一试。</p>
</div><p>With DuPont now trading slightly below analyst targets despite years of strong total returns, investors face a key question: Is the post spin off lull a temporary mispricing, or is the market already baking in the next leg of growth?</p>
<div class="lb-trans"><p>尽管杜邦的交易价格略低于分析师目标，但投资者面临一个关键问题：剥离后的低迷是暂时的错误定价，还是市场已经在考虑下一轮增长？</p>
</div><h2>Most Popular Narrative: 14.1% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：14.1% 被低估</h2>
</div><p>With DuPont de Nemours last closing at $40.61 against a narrative fair value of $47.25, the prevailing view frames the current pricing as a discount that hinges on execution in a narrower, higher margin portfolio.</p>
<div class="lb-trans"><p>杜邦公司最近的收盘价为 40.61 美元，而叙述的公允价值为 47.25 美元，当前定价被视为折扣，依赖于在更窄、更高利润的投资组合中的执行。</p>
</div><p><em>DuPont's accelerated growth in Electronics, particularly from AI-driven applications, advanced packaging, and high-performance computing, positions the company to capture outsized revenue expansion as node migrations and broader electronics market recovery unfold through 2025 and beyond. Persistent strength and strategic investment in Healthcare &amp; Water, driven by surging global demand for clean water solutions and healthcare products, leverages favorable demographic, sustainability, and infrastructure trends to drive above-peer organic revenue growth and margin stability.</em></p>
<div class="lb-trans"><p><em>杜邦在电子领域的加速增长，特别是来自人工智能驱动的应用、先进包装和高性能计算，使公司能够在节点迁移和更广泛的电子市场复苏中捕捉超额收入增长，预计这一趋势将持续到 2025 年及以后。医疗和水务领域的持续强劲表现和战略投资，受全球对清洁水解决方案和医疗产品需求激增的推动，利用有利的人口、可持续性和基础设施趋势，推动高于同行的有机收入增长和利润稳定。</em></p>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Curious how modest top line assumptions still lead to a richer earnings profile and a premium future multiple for a chemicals name, not a software giant? The narrative leans heavily on a sharper mix shift, fatter margins, and a bold view on where DuPont’s earnings power could land a few years from now, but keeps the exact trajectory under the hood. Want to see which specific earnings and margin path is being used to justify that higher fair value and what kind of rerating it implies?</p>
<div class="lb-trans"><p>好奇为什么适度的收入假设仍然导致化工公司而非软件巨头的更高盈利特征和溢价未来倍数？该叙述在更精确的组合转变、更高的利润率和对杜邦未来盈利能力的大胆预期上倾斜，但保持了确切的轨迹在幕后。想看看哪些具体的盈利和利润路径被用来证明更高的公允价值，以及这意味着什么样的重新评级吗？</p>
</div><p><strong>Result: Fair Value of $47.25 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 47.25 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, lingering PFAS liabilities and heavy exposure to China mean legal or geopolitical shocks could quickly derail the margin and rerating story that investors are banking on.</p>
<div class="lb-trans"><p>然而，持续存在的 PFAS 责任和对中国的高度依赖意味着法律或地缘政治冲击可能迅速破坏投资者所寄望的利润和重新评级故事。</p>
</div><p>Find out about the key risks to this DuPont de Nemours narrative.</p>
<div class="lb-trans"><p>了解杜邦公司叙述的关键风险。</p>
</div><h2>Another Angle on Valuation</h2>
<div class="lb-trans"><h2>估值的另一种角度</h2>
</div><p>On earnings, DuPont looks only slightly stretched, trading at 23.4 times versus a fair ratio of 22.6 times and almost identical to the US Chemicals average of 23.4 times. That leaves little safety margin, so is the upside narrative worth this thin valuation cushion?</p>
<div class="lb-trans"><p>在盈利方面，杜邦的估值仅略显紧张，交易倍数为 23.4 倍，而公允倍数为 22.6 倍，几乎与美国化工行业的平均水平 23.4 倍相同。这几乎没有安全边际，那么这种上涨叙述是否值得这薄弱的估值缓冲？</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这一价格的看法——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/ea8857c5-4e20-4cf1-81c4-295f243bfa21/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/ea8857c5-4e20-4cf1-81c4-295f243bfa21/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:DD PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NYSE:DD 市盈率</p>
</div><h2>Build Your Own DuPont de Nemours Narrative</h2>
<div class="lb-trans"><h2>构建您自己的杜邦公司叙述</h2>
</div><p>If you see the story differently, or simply want to dig into the numbers yourself, you can create a tailored narrative in just a few minutes: Do it your way.</p>
<div class="lb-trans"><p>如果您对这个故事有不同的看法，或者只是想自己深入研究数字，您可以在几分钟内创建一个量身定制的叙述：按您的方式进行。</p>
</div><p>A great starting point for your DuPont de Nemours research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>您对杜邦公司的研究的一个很好的起点是我们的分析，强调了可能影响您投资决策的 3 个关键回报和 3 个重要警示信号。</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 your next potential winners by scanning focused stock ideas on Simply Wall St that match the kind of edge you are seeking.</p>
<div class="lb-trans"><p>在您继续之前，通过在 Simply Wall St 上扫描与您所寻求的优势相匹配的集中股票想法，锁定您下一个潜在赢家。</p>
</div><ul>
<li>Capture early stage upside by targeting quality names among these 3595 penny stocks with strong financials that already back their promise with solid balance sheets and improving fundamentals.</li>
<li>Position your portfolio at the heart of the productivity boom by zeroing in on these 26 AI penny stocks poised to benefit as AI adoption accelerates worldwide.</li>
<li>Accelerate your hunt for mispriced opportunities by filtering for these 900 undervalued stocks based on cash flows where market expectations still lag behind the strength of their cash flow outlooks.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过瞄准这些 3595 只财务稳健的低价股，捕捉早期阶段的上涨潜力，这些公司已经用稳健的资产负债表和改善的基本面支持了它们的承诺。</li>
<li>通过关注这 26 只人工智能低价股，将您的投资组合置于生产力繁荣的核心，预计随着全球人工智能采用的加速而受益。</li>
<li>通过过滤这些 900 只基于现金流的被低估股票，加速您寻找错误定价机会的步伐，市场预期仍落后于它们的现金流前景的强劲表现。</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>这篇文章由 Simply Wall St 撰写，性质一般。<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> 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。我们旨在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>
</div>

在 Qnity Electronics 分拆之后，重新评估杜邦（DD）：新的估值传达了什么信号？