<ul>
<li>如果你在想 Pinterest 当前约 $25.99 的股价是否在悄然建立一个价值机会，还是仅仅是另一个价值陷阱，你来对地方了。</li>
<li>尽管过去一周回报率为 -2.8%，过去一个月为 -2.4%，年初至今下跌了 -15.0%，但该股票在过去三年中仍上涨了 4.8%，尽管其股价比五年前的水平低了约 -63.1%。</li>
<li>最近，投资者对数字广告支出和该平台将其高度视觉化用户群体货币化能力的情绪变化反应更为敏感，而不是单一的头条新闻。这意味着股价波动与对长期增长和盈利能力的预期变化一样，与短期新闻流动有关。</li>
<li>根据我们的数据，Pinterest 在估值检查中得分为 6/6，这表明它在多个指标上被低估。接下来，我们将详细分析这些估值方法，并概述一种更精细的方式来思考市场真正定价的内容。</li>
</ul>
<p>了解为什么 Pinterest 在过去一年中 -15.2% 的回报率落后于同行。</p>
<h3>方法 1：Pinterest 折现现金流（DCF）分析</h3>
<p>折现现金流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的美元价值来估算企业的价值。对于 Pinterest，最近十二个月的自由现金流约为 11.3 亿美元。这为这些预测提供了一个起点。</p>
<p>这里使用的两阶段自由现金流到股权模型结合了分析师对未来几年的预测与 Simply Wall St 的长期外推。在这个框架下，预计到 2035 年，Pinterest 的年自由现金流将达到约 23.4 亿美元，基于模型的假设。</p>
<p>当这些未来现金流被折现回现值时，该模型得出的内在价值估计约为每股 51.32 美元。与当前股价约 25.99 美元相比，约 49.4% 的隐含折扣表明市场价格与这些现金流假设所暗示的价值之间存在差距。</p>
<p><strong>结果：被低估（基于模型）</strong></p>
<p>我们的折现现金流（DCF）分析表明，Pinterest 被低估了 49.4%。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 908 只更多被低估的股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/8d26a1da-13d1-454c-98d3-7c81a73e8149/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/8d26a1da-13d1-454c-98d3-7c81a73e8149/chart/dcf"/></p>
<p>截至 2025 年 12 月的 PINS 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 Pinterest 的公允价值的更多细节。</p>
<h3>方法 2：Pinterest 市盈率</h3>
<p>对于像 Pinterest 这样的盈利公司，市盈率（PE）是投资者愿意为每一美元当前收益支付的价格的有用简写。它将股价直接与底线联系起来，使得比较不同规模和资本结构的企业变得更容易。</p>
<p>什么算是正常的市盈率取决于预期收益增长的速度和这些收益的风险性。更高的增长和更可预测的利润通常会合理化更高的倍数，而较慢或更波动的收益则应以较低的倍数交易。</p>
<p>Pinterest 当前的市盈率约为 8.8 倍，远低于互动媒体和服务行业平均约 17.4 倍，以及更富裕的同行平均接近 66.3 倍。Simply Wall St 的专有公允比率约为 14.5 倍，反映了其特定的收益增长、利润率、行业定位、市值和风险特征的组合。这个公允比率比简单的同行或行业比较更具信息性，因为它调整了这些公司层面的因素，而不是假设一刀切。与 14.5 倍的公允比率相比，Pinterest 的 8.8 倍倍数表明市场仍在低估其盈利能力。</p>
<p><strong>结果：被低估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/8d26a1da-13d1-454c-98d3-7c81a73e8149/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/8d26a1da-13d1-454c-98d3-7c81a73e8149/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NYSE:PINS 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 1445 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 Pinterest 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框架，让你将对 Pinterest 故事的看法与收入、收益和利润率的具体预测联系起来。然后，你可以将这些预测与一个明确的公允价值联系起来，以便与当前股价进行比较，从而决定是买入、持有还是卖出。所有这些都会随着新的收益或新闻的到来而动态更新。例如，更乐观的 Pinterest 故事可能假设更快的货币化、更高的利润率和每股公允价值约 42.63 美元。相反，更谨慎的故事可能倾向于较慢的增长、更薄的利润率和接近 37.28 美元的公允价值。这显示了对同一公司的两种合理观点如何导致不同但完全量化的投资决策。</p>
<p>你认为 Pinterest 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/8d26a1da-13d1-454c-98d3-7c81a73e8149/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/8d26a1da-13d1-454c-98d3-7c81a73e8149/chart/quote-price"/></p>
<p>NYSE:PINS 1 年股票价格走势图</p>
<p><em>这篇文章由 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> 它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 在提到的任何股票中没有持仓。</em></p>
<p>移动基础设施用于国防和灾难</p>
<p>下一波机器人技术不是人形机器人，而是能够在 30 分钟内在任何地方提供 5G、ISR 和雷达的完全自主塔。</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>

PINS

<p>Pinterest 股票目前价格为 25.99 美元，基于折现现金流分析被认为被低估，其内在价值估计为每股 51.32 美元，显示出 49.4% 的折扣。此外，其市盈率为 8.8 倍，低于行业平均水平，进一步表明被低估。投资者正在对数字广告支出情绪的变化和该平台的盈利潜力做出反应。股票的长期增长和盈利预期是影响其估值的关键因素</p>

<ul>
<li>If you are wondering whether Pinterest at around $25.99 is quietly setting up a value opportunity or just another value trap, you are in the right place.</li>
<li>Despite a choppy ride with returns of -2.8% over the last week, -2.4% over the last month, and a -15.0% drop year to date, the stock is still up 4.8% over three years, even though it sits about -63.1% below its five year level.</li>
<li>Recently, investors have been reacting more to shifting sentiment around digital ad spending and the platform's ability to monetize its highly visual user base, rather than any single headline. That means price moves have as much to do with changing expectations about long term growth and profitability as they do with short term news flow.</li>
<li>On our numbers, Pinterest scores a strong 6/6 valuation checks, which suggests it screens as undervalued across multiple metrics. Next, we will break down what those valuation approaches say and outline a more refined way to think about what the market is really pricing in.</li>
</ul>
<div class="lb-trans"><ul>
<li>如果你在想 Pinterest 当前约 $25.99 的股价是否在悄然建立一个价值机会，还是仅仅是另一个价值陷阱，你来对地方了。</li>
<li>尽管过去一周回报率为 -2.8%，过去一个月为 -2.4%，年初至今下跌了 -15.0%，但该股票在过去三年中仍上涨了 4.8%，尽管其股价比五年前的水平低了约 -63.1%。</li>
<li>最近，投资者对数字广告支出和该平台将其高度视觉化用户群体货币化能力的情绪变化反应更为敏感，而不是单一的头条新闻。这意味着股价波动与对长期增长和盈利能力的预期变化一样，与短期新闻流动有关。</li>
<li>根据我们的数据，Pinterest 在估值检查中得分为 6/6，这表明它在多个指标上被低估。接下来，我们将详细分析这些估值方法，并概述一种更精细的方式来思考市场真正定价的内容。</li>
</ul>
</div><p>Find out why Pinterest's -15.2% return over the last year is lagging behind its peers.</p>
<div class="lb-trans"><p>了解为什么 Pinterest 在过去一年中 -15.2% 的回报率落后于同行。</p>
</div><h3>Approach 1: Pinterest Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法 1：Pinterest 折现现金流（DCF）分析</h3>
</div><p>A Discounted Cash Flow model estimates what a business is worth by projecting the cash it can generate in the future and discounting those cash flows back to today in dollar terms. For Pinterest, the latest twelve months Free Cash Flow is about $1.13 billion. This provides a starting point for those projections.</p>
<div class="lb-trans"><p>折现现金流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的美元价值来估算企业的价值。对于 Pinterest，最近十二个月的自由现金流约为 11.3 亿美元。这为这些预测提供了一个起点。</p>
</div><p>The 2 Stage Free Cash Flow to Equity model used here combines analyst forecasts for the next few years with longer term extrapolations by Simply Wall St. Under this framework, Pinterest’s annual Free Cash Flow is projected to reach roughly $2.34 billion by 2035, based on the model’s assumptions.</p>
<div class="lb-trans"><p>这里使用的两阶段自由现金流到股权模型结合了分析师对未来几年的预测与 Simply Wall St 的长期外推。在这个框架下，预计到 2035 年，Pinterest 的年自由现金流将达到约 23.4 亿美元，基于模型的假设。</p>
</div><p>When those future cash flows are discounted back, the model arrives at an intrinsic value estimate of about $51.32 per share. Versus the current share price near $25.99, the implied discount of roughly 49.4% indicates a gap between the market price and the value suggested by these cash flow assumptions.</p>
<div class="lb-trans"><p>当这些未来现金流被折现回现值时，该模型得出的内在价值估计约为每股 51.32 美元。与当前股价约 25.99 美元相比，约 49.4% 的隐含折扣表明市场价格与这些现金流假设所暗示的价值之间存在差距。</p>
</div><p><strong>Result: UNDERVALUED (model-based)</strong></p>
<div class="lb-trans"><p><strong>结果：被低估（基于模型）</strong></p>
</div><p>Our Discounted Cash Flow (DCF) analysis suggests Pinterest is undervalued by 49.4%. Track this in your watchlist or portfolio, or discover 908 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，Pinterest 被低估了 49.4%。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 908 只更多被低估的股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/8d26a1da-13d1-454c-98d3-7c81a73e8149/chart/dcf" alt="" original-src="https://images.simplywall.st/company/8d26a1da-13d1-454c-98d3-7c81a73e8149/chart/dcf"/></p>
<p>PINS Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 PINS 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 Pinterest.</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 Pinterest 的公允价值的更多细节。</p>
</div><h3>Approach 2: Pinterest Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：Pinterest 市盈率</h3>
</div><p>For profitable companies like Pinterest, the price to earnings, or PE, ratio is a useful shorthand for how much investors are willing to pay today for each dollar of current earnings. It links the share price directly to the bottom line and makes it easier to compare businesses with different sizes and capital structures.</p>
<div class="lb-trans"><p>对于像 Pinterest 这样的盈利公司，市盈率（PE）是投资者愿意为每一美元当前收益支付的价格的有用简写。它将股价直接与底线联系起来，使得比较不同规模和资本结构的企业变得更容易。</p>
</div><p>What counts as a normal PE depends on how fast earnings are expected to grow and how risky those earnings are. Higher growth and more predictable profits usually justify a higher multiple, while slower or more volatile earnings should trade on a lower one.</p>
<div class="lb-trans"><p>什么算是正常的市盈率取决于预期收益增长的速度和这些收益的风险性。更高的增长和更可预测的利润通常会合理化更高的倍数，而较慢或更波动的收益则应以较低的倍数交易。</p>
</div><p>Pinterest currently trades on about 8.8x earnings, well below both the Interactive Media and Services industry average of roughly 17.4x and a much richer peer group average near 66.3x. Simply Wall St’s proprietary Fair Ratio for Pinterest is around 14.5x, which reflects its specific mix of earnings growth, margins, industry positioning, market cap and risk profile. This Fair Ratio is more informative than a simple peer or industry comparison because it adjusts for those company level factors rather than assuming one size fits all. Set against that 14.5x Fair Ratio, Pinterest’s 8.8x multiple suggests the market is still underpricing its earnings power.</p>
<div class="lb-trans"><p>Pinterest 当前的市盈率约为 8.8 倍，远低于互动媒体和服务行业平均约 17.4 倍，以及更富裕的同行平均接近 66.3 倍。Simply Wall St 的专有公允比率约为 14.5 倍，反映了其特定的收益增长、利润率、行业定位、市值和风险特征的组合。这个公允比率比简单的同行或行业比较更具信息性，因为它调整了这些公司层面的因素，而不是假设一刀切。与 14.5 倍的公允比率相比，Pinterest 的 8.8 倍倍数表明市场仍在低估其盈利能力。</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/8d26a1da-13d1-454c-98d3-7c81a73e8149/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/8d26a1da-13d1-454c-98d3-7c81a73e8149/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:PINS PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NYSE:PINS 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1445 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 1445 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 Pinterest Narrative</h3>
<div class="lb-trans"><h3>提升你的决策能力：选择你的 Pinterest 故事</h3>
</div><p>Earlier we mentioned that there is an even better way to understand valuation, so let's introduce you to Narratives, a simple framework on Simply Wall St's Community page that lets you connect your view of Pinterest's story to concrete forecasts for revenue, earnings and margins. You can then link these forecasts to an explicit Fair Value you can compare with the current share price to decide whether to buy, hold or sell. This all updates dynamically as new earnings or news arrives. For example, a more optimistic Pinterest Narrative might assume faster monetization, higher margins and a Fair Value around $42.63 per share. In contrast, a more cautious Narrative could lean toward slower growth, thinner margins and a Fair Value closer to $37.28. This shows how two reasonable perspectives on the same company can lead to different yet fully quantified investment decisions.</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框架，让你将对 Pinterest 故事的看法与收入、收益和利润率的具体预测联系起来。然后，你可以将这些预测与一个明确的公允价值联系起来，以便与当前股价进行比较，从而决定是买入、持有还是卖出。所有这些都会随着新的收益或新闻的到来而动态更新。例如，更乐观的 Pinterest 故事可能假设更快的货币化、更高的利润率和每股公允价值约 42.63 美元。相反，更谨慎的故事可能倾向于较慢的增长、更薄的利润率和接近 37.28 美元的公允价值。这显示了对同一公司的两种合理观点如何导致不同但完全量化的投资决策。</p>
</div><p>Do you think there's more to the story for Pinterest? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>你认为 Pinterest 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/8d26a1da-13d1-454c-98d3-7c81a73e8149/chart/quote-price" alt="" original-src="https://images.simplywall.st/company/8d26a1da-13d1-454c-98d3-7c81a73e8149/chart/quote-price"/></p>
<p>NYSE:PINS 1-Year Stock Price Chart</p>
<div class="lb-trans"><p>NYSE:PINS 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>这篇文章由 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> 它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 在提到的任何股票中没有持仓。</em></p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>移动基础设施用于国防和灾难</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人形机器人，而是能够在 30 分钟内在任何地方提供 5G、ISR 和雷达的完全自主塔。</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>

Pinterest 股票在 2025 年最近下跌 15% 后是否成为一个长期投资机会？