<ul>
<li>想知道 Hims &amp; Hers Health 在大幅上涨后是否仍然是一个明智的投资，或者说轻松赚钱的机会是否已经过去？你并不孤单，本文将详细分析当前价格实际上反映了什么。</li>
<li>尽管最近一周回调约 5.1%，过去一个月回调 4.6%，但该股票年初至今仍上涨 47.7%，三年内更是大幅上涨 450.4%。这表明市场已经大幅调整了其预期。</li>
<li>这种信心的激增得益于公司在远程医疗订阅、名人合作以及在体重管理和脱发等领域的高调产品发布方面的关注，所有这些都旨在建立一个粘性强的直接面向消费者的品牌。同时，媒体对数字健康监管的关注增加，以及来自大型平台的竞争，提醒投资者快速增长伴随着真正的执行风险。</li>
<li>根据我们的框架，Hims &amp; Hers Health 在低估检查中目前仅得 2 分（满分 6 分），因此市场远未将其视为一个绝对的便宜货。然而，使用倍数、现金流模型或增长调整指标时，情况看起来截然不同。我们将逐一分析这些内容，最后以一种更直观的方式思考估值，超越单纯的数字。</li>
</ul>
<p>Hims &amp; Hers Health 在我们的估值检查中仅得 2/6 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：Hims &amp; Hers Health 折现现金流（DCF）分析</h3>
<p>折现现金流（DCF）模型通过预测公司未来能够产生的现金流并将这些现金流折现回今天，来估算公司的价值。在这种情况下，2 阶段自由现金流到股权模型以 Hims &amp; Hers Health 最近 12 个月的自由现金流约为 1.894 亿美元为起点，然后叠加分析师的预测和长期增长假设。</p>
<p>分析师目前预计自由现金流到 2029 年将上升至约 4.067 亿美元，Simply Wall St 将未来几年外推至 2035 年，随着早期增长率逐渐放缓，进入更成熟的阶段。所有数字均以美元计，并且仍远低于十亿美元的标志，因此这里的故事是关于中型现金流的复合增长，而不是巨型市值的规模。</p>
<p>将这些预测汇总，模型得出的内在价值约为每股 58.00 美元，意味着该股票的交易价格比其估计的公允价值低 35.8%，因此在这个框架下被视为显著低估。</p>
<p><strong>结果：低估</strong></p>
<p>我们的折现现金流（DCF）分析表明 Hims &amp; Hers Health 被低估了 35.8%。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 907 只其他被低估的股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/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/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/dcf"/></p>
<p>截至 2025 年 12 月的 HIMS 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 Hims &amp; Hers Health 的公允价值的更多细节。</p>
<h3>方法 2：Hims &amp; Hers Health 市盈率</h3>
<p>对于已经盈利的公司，市盈率（P/E）是评估价值的有用方式，因为它将投资者支付的价格直接与公司当前产生的利润联系起来。一般来说，较快的增长和较低的风险感知可以支持更高的市盈率，而较慢的增长或更高的不确定性通常需要更温和的倍数。</p>
<p>Hims &amp; Hers Health 当前的市盈率约为 63.31 倍，远高于大健康行业平均的约 23.72 倍和其同行组的平均约 31.62 倍。乍一看，这种溢价似乎有些过高。然而，Simply Wall St 的专有公允比率框架根据公司的盈利增长前景、盈利能力、行业、市值和风险因素，估算出更合适的市盈率约为 42.01 倍。</p>
<p>这种公允比率方法比简单的同行或行业比较更具针对性，因为它明确考虑了 Hims &amp; Hers 预计的增长速度以及这种增长可能的风险。将当前的 63.31 倍与 42.01 倍的公允比率进行比较，表明该股票的定价反映了比基本面所支持的更多的乐观情绪。</p>
<p><strong>结果：高估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/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/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NYSE:HIMS 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 1448 家内部人士正在大举押注于爆炸性增长的公司。</p>
<h3>升级你的决策：选择你的 Hims &amp; Hers Health 故事</h3>
<p>之前我们提到有一种更好的方式来理解估值，因此让我们向你介绍 Narratives，这是一种将你对 Hims &amp; Hers Health 故事的看法与未来收入、利润率和公允价值估算等一组数字连接起来的简单方法，然后看看这与当前股价的对比。</p>
<p>在 Simply Wall St 的社区页面上，Narratives 让数百万投资者将他们的研究转化为结构化的预测。这意味着你可以快速看到一个特定的故事情节，例如 Hims &amp; Hers 成为领先的个性化健康平台，公允价值接近每股 114 美元，与更谨慎的观点相比，后者认为其公允价值接近每股 44 美元，基于较慢的增长和更紧的利润率。</p>
<p>每个 Narrative 将一个明确的论点与财务模型和公允价值链接在一起。它会随着新的收益、新闻和监管动态的到来而动态更新。这使得通过直接比较 Hims &amp; Hers Health 不断变化的公允价值与今天的市场价格，更容易决定它是否看起来适合买入、持有或卖出。</p>
<p>你认为 Hims &amp; Hers Health 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/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/quote-price?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1510" height="1044" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/quote-price"/></p>
<p>NYSE:HIMS 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> 它不构成买卖任何股票的推荐，也不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>
<p>国防与灾难的移动基础设施</p>
<p>下一波机器人技术不是类人型的。它是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达服务，覆盖任何地方。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>代表 CiTech 赞助</p>

HIMS

<p>Hims & Hers Health 在三年内上涨了 450.4%，得益于远程医疗的扩展和高调的产品发布。尽管近期有所回调，该股票年初至今上涨了 47.7%。该公司的低估值检查得分为 2/6。现金流折现分析表明该股票被低估了 35.8%，而市盈率分析则显示其被高估。文章探讨了不同的估值方法，并强调了投资者面临的风险和机会</p>

<ul>
<li>Wondering if Hims &amp; Hers Health is still a smart buy after its big run, or if the easy money has already been made? You are not alone, and this article is going to unpack exactly what the current price is really baking in.</li>
<li>Even after a recent pullback of around 5.1% over the last week and 4.6% over the past month, the stock is still up 47.7% year to date and a massive 450.4% over three years. This tells you the market has already rewritten its expectations in a big way.</li>
<li>That surge in confidence has been fueled by growing attention on the company’s push into telehealth subscriptions, celebrity partnerships, and high profile category launches in areas like weight management and hair loss, all aimed at building a sticky, direct to consumer brand. At the same time, increased media focus on digital health regulation and competition from larger platforms has reminded investors that rapid growth comes with real execution risk.</li>
<li>On our framework, Hims &amp; Hers Health currently scores just 2 out of 6 on undervaluation checks, so the market is far from calling it a screaming bargain. However, the picture looks very different depending on whether you use multiples, cash flow models, or growth adjusted metrics. We will walk through those, then finish with a more intuitive way to think about valuation that goes beyond the numbers alone.</li>
</ul>
<div class="lb-trans"><ul>
<li>想知道 Hims &amp; Hers Health 在大幅上涨后是否仍然是一个明智的投资，或者说轻松赚钱的机会是否已经过去？你并不孤单，本文将详细分析当前价格实际上反映了什么。</li>
<li>尽管最近一周回调约 5.1%，过去一个月回调 4.6%，但该股票年初至今仍上涨 47.7%，三年内更是大幅上涨 450.4%。这表明市场已经大幅调整了其预期。</li>
<li>这种信心的激增得益于公司在远程医疗订阅、名人合作以及在体重管理和脱发等领域的高调产品发布方面的关注，所有这些都旨在建立一个粘性强的直接面向消费者的品牌。同时，媒体对数字健康监管的关注增加，以及来自大型平台的竞争，提醒投资者快速增长伴随着真正的执行风险。</li>
<li>根据我们的框架，Hims &amp; Hers Health 在低估检查中目前仅得 2 分（满分 6 分），因此市场远未将其视为一个绝对的便宜货。然而，使用倍数、现金流模型或增长调整指标时，情况看起来截然不同。我们将逐一分析这些内容，最后以一种更直观的方式思考估值，超越单纯的数字。</li>
</ul>
</div><p>Hims &amp; Hers Health scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.</p>
<div class="lb-trans"><p>Hims &amp; Hers Health 在我们的估值检查中仅得 2/6 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: Hims &amp; Hers Health Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法 1：Hims &amp; Hers Health 折现现金流（DCF）分析</h3>
</div><p>A Discounted Cash Flow, or DCF, model estimates what a company is worth by projecting the cash it can generate in the future and discounting those dollars back to today. In this case, the 2 Stage Free Cash Flow to Equity model starts with Hims &amp; Hers Health’s last twelve month free cash flow of about $189.4 million and then layers on analyst forecasts and longer term growth assumptions.</p>
<div class="lb-trans"><p>折现现金流（DCF）模型通过预测公司未来能够产生的现金流并将这些现金流折现回今天，来估算公司的价值。在这种情况下，2 阶段自由现金流到股权模型以 Hims &amp; Hers Health 最近 12 个月的自由现金流约为 1.894 亿美元为起点，然后叠加分析师的预测和长期增长假设。</p>
</div><p>Analysts currently project free cash flow rising to roughly $406.7 million by 2029, with Simply Wall St extrapolating the following years out to 2035 as growth gradually slows from higher early rates into more mature territory. All figures are in $ and remain well below the billion mark, so the story here is about compounding medium sized cash flows rather than mega cap scale.</p>
<div class="lb-trans"><p>分析师目前预计自由现金流到 2029 年将上升至约 4.067 亿美元，Simply Wall St 将未来几年外推至 2035 年，随着早期增长率逐渐放缓，进入更成熟的阶段。所有数字均以美元计，并且仍远低于十亿美元的标志，因此这里的故事是关于中型现金流的复合增长，而不是巨型市值的规模。</p>
</div><p>Rolling those projections together, the model arrives at an intrinsic value of about $58.00 per share, implying the stock is trading at a 35.8% discount to its estimated fair value and therefore screens as meaningfully undervalued on this framework.</p>
<div class="lb-trans"><p>将这些预测汇总，模型得出的内在价值约为每股 58.00 美元，意味着该股票的交易价格比其估计的公允价值低 35.8%，因此在这个框架下被视为显著低估。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：低估</strong></p>
</div><p>Our Discounted Cash Flow (DCF) analysis suggests Hims &amp; Hers Health is undervalued by 35.8%. Track this in your watchlist or portfolio, or discover 907 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 Hims &amp; Hers Health 被低估了 35.8%。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 907 只其他被低估的股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/dcf" alt="" original-src="https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/dcf"/></p>
<p>HIMS Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 HIMS 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 Hims &amp; Hers Health.</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 Hims &amp; Hers Health 的公允价值的更多细节。</p>
</div><h3>Approach 2: Hims &amp; Hers Health Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：Hims &amp; Hers Health 市盈率</h3>
</div><p>For companies that are already profitable, the price to earnings, or P E, ratio is a useful way to judge value because it links what investors pay directly to the profits the business is generating today. In general, faster growth and lower perceived risk justify a higher P E, while slower growth or higher uncertainty usually call for a more modest multiple.</p>
<div class="lb-trans"><p>对于已经盈利的公司，市盈率（P/E）是评估价值的有用方式，因为它将投资者支付的价格直接与公司当前产生的利润联系起来。一般来说，较快的增长和较低的风险感知可以支持更高的市盈率，而较慢的增长或更高的不确定性通常需要更温和的倍数。</p>
</div><p>Hims &amp; Hers Health currently trades on a P E of about 63.31x, which is well above both the broader Healthcare industry average of roughly 23.72x and its peer group average of around 31.62x. At first glance, that kind of premium might look stretched. However, Simply Wall St’s proprietary Fair Ratio framework estimates a more appropriate P E of about 42.01x, based on the company’s earnings growth outlook, profitability profile, industry, market cap and risk factors.</p>
<div class="lb-trans"><p>Hims &amp; Hers Health 当前的市盈率约为 63.31 倍，远高于大健康行业平均的约 23.72 倍和其同行组的平均约 31.62 倍。乍一看，这种溢价似乎有些过高。然而，Simply Wall St 的专有公允比率框架根据公司的盈利增长前景、盈利能力、行业、市值和风险因素，估算出更合适的市盈率约为 42.01 倍。</p>
</div><p>This Fair Ratio approach is more tailored than simple peer or industry comparisons because it explicitly bakes in how quickly Hims &amp; Hers is expected to grow and how risky that growth might be. Comparing the current 63.31x to the 42.01x Fair Ratio suggests the shares are pricing in more optimism than the fundamentals alone support.</p>
<div class="lb-trans"><p>这种公允比率方法比简单的同行或行业比较更具针对性，因为它明确考虑了 Hims &amp; Hers 预计的增长速度以及这种增长可能的风险。将当前的 63.31 倍与 42.01 倍的公允比率进行比较，表明该股票的定价反映了比基本面所支持的更多的乐观情绪。</p>
</div><p><strong>Result: OVERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：高估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:HIMS PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NYSE:HIMS 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1448 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 1448 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 Hims &amp; Hers Health Narrative</h3>
<div class="lb-trans"><h3>升级你的决策：选择你的 Hims &amp; Hers Health 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 way to connect your view of Hims &amp; Hers Health’s story with a set of numbers like future revenue, margins and a fair value estimate, then see how that stacks up against the current share price.</p>
<div class="lb-trans"><p>之前我们提到有一种更好的方式来理解估值，因此让我们向你介绍 Narratives，这是一种将你对 Hims &amp; Hers Health 故事的看法与未来收入、利润率和公允价值估算等一组数字连接起来的简单方法，然后看看这与当前股价的对比。</p>
</div><p>On Simply Wall St’s Community page, Narratives let millions of investors turn their research into a structured forecast. This means you can quickly see how a particular storyline, for example Hims &amp; Hers becoming the leading personalised health platform with a fair value near $114 per share, compares with a more cautious view that sees it as fairly valued closer to $44 per share based on slower growth and tighter margins.</p>
<div class="lb-trans"><p>在 Simply Wall St 的社区页面上，Narratives 让数百万投资者将他们的研究转化为结构化的预测。这意味着你可以快速看到一个特定的故事情节，例如 Hims &amp; Hers 成为领先的个性化健康平台，公允价值接近每股 114 美元，与更谨慎的观点相比，后者认为其公允价值接近每股 44 美元，基于较慢的增长和更紧的利润率。</p>
</div><p>Each Narrative links a clear thesis to a financial model and a fair value. It updates dynamically as new earnings, news and regulatory developments come in. This makes it easier to decide whether Hims &amp; Hers Health looks like a buy, hold or sell for you by directly comparing its evolving Fair Value to today’s market Price.</p>
<div class="lb-trans"><p>每个 Narrative 将一个明确的论点与财务模型和公允价值链接在一起。它会随着新的收益、新闻和监管动态的到来而动态更新。这使得通过直接比较 Hims &amp; Hers Health 不断变化的公允价值与今天的市场价格，更容易决定它是否看起来适合买入、持有或卖出。</p>
</div><p>Do you think there's more to the story for Hims &amp; Hers Health? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>你认为 Hims &amp; Hers Health 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/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/quote-price" alt="" original-src="https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/quote-price"/></p>
<p>NYSE:HIMS 1-Year Stock Price Chart</p>
<div class="lb-trans"><p>NYSE:HIMS 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> 它不构成买卖任何股票的推荐，也不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><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>国防与灾难的移动基础设施</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波机器人技术不是类人型的。它是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达服务，覆盖任何地方。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>代表 CiTech 赞助</p>
</div>

Hims & Hers Health 在经历了 450% 的股价飙升以及远程医疗业务扩展后，是否仍然具有投资吸引力？