<ul>
<li>不知道 monday.com 在下滑后是否开始显得便宜，还是市场在传达对该业务更深层次的担忧。</li>
<li>该股在过去一周下跌了 7.6%，过去一个月下跌了 6.5%，年初至今下跌了 35.0%，尽管在过去三年中仍上涨了 29.5%，但在过去一年中已延续了 40.4% 的跌幅。</li>
<li>这种波动性主要是由于对高增长软件公司的情绪变化，随着利率预期的变化，投资者在该行业中轮动，风险偏好波动。同时，monday.com 继续推出新的平台功能和集成，旨在加深客户的采用并捍卫其竞争地位。</li>
<li>根据我们的调查，monday.com 的估值得分为 3/6，表明在某些指标上看起来被低估，但并非全面。在接下来的部分中，我们将详细分析这些不同的估值视角，最后以更广泛的方式思考市场可能真正定价的内容。</li>
</ul>
<p>了解为什么 monday.com 在过去一年中 -40.4% 的回报落后于其同行。</p>
<h3>方法 1：monday.com 折现现金流 (DCF) 分析</h3>
<p>折现现金流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的美元价值，来估算公司的价值。对于 monday.com，2 阶段自由现金流到股权模型以过去 12 个月的自由现金流约 3.31 亿美元为起点，然后应用分析师对未来几年的预测，最后推算长期增长。</p>
<p>分析师预计未来十年自由现金流将上升至数亿美金中期，Simply Wall St 的预测指向到 2035 年约 11 亿美元的自由现金流。当所有这些未来现金流折现回今天时，模型得出的内在价值大约为每股 189.62 美元。</p>
<p>与当前股价相比，这意味着有 20.8% 的折扣。这表明市场对未来的展望比现金流预测所假设的更为谨慎。</p>
<p><strong>结果：被低估</strong></p>
<p>我们的折现现金流 (DCF) 分析表明，monday.com 被低估了 20.8%。将其添加到您的观察列表或投资组合中，或发现基于现金流的 915 只更多被低估的股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b018843d-ade7-4ca0-a323-86ec8739f1c3/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/b018843d-ade7-4ca0-a323-86ec8739f1c3/chart/dcf"/></p>
<p>截至 2025 年 12 月的 MNDY 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 monday.com 的公允价值的更多细节。</p>
<h3>方法 2：monday.com 价格与收益</h3>
<p>对于像 monday.com 这样的盈利公司，市盈率是衡量投资者愿意为每一美元当前利润支付多少的有用方式。更高的增长和较低的风险通常会导致更高的市盈率，而较慢的增长或更大的不确定性通常会要求较低、更保守的倍数。</p>
<p>monday.com 目前的市盈率为 119.0 倍，远高于更广泛的软件行业平均水平约 32.7 倍，也高于其高增长同行组的约 39.0 倍。仅凭这些简单的比较，该股看起来就很昂贵。更深入地说，Simply Wall St 计算出一个专有的公允比率为 43.1 倍，这反映了在考虑到 monday.com 的盈利增长前景、利润率、行业动态、市值和特定风险特征后，合理的市盈率可能是什么。</p>
<p>这个公允比率框架比简单的同行或行业比较更具针对性，因为它明确考虑了公司预计的增长速度以及这些现金流的风险。与 43.1 倍的公允比率相比，目前的 119.0 倍市盈率表明市场正在为基本面所支持的价值支付相当大的溢价。</p>
<p><strong>结果：被高估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b018843d-ade7-4ca0-a323-86ec8739f1c3/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/b018843d-ade7-4ca0-a323-86ec8739f1c3/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NasdaqGS:MNDY 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 1461 家内部人士正在大举押注于爆炸性增长的公司。</p>
<h3>升级您的决策：选择您的 monday.com 故事</h3>
<p>我们之前提到过，有一种更好的方式来理解估值，因此让我们向您介绍叙述，这是一个简单的框架，让您通过将对 monday.com 未来收入、收益和利润率的假设与财务预测和最终的公允价值估计联系起来，来围绕您的数字构建一个清晰的故事。</p>
<p>在 Simply Wall St 的社区页面上，数百万投资者使用叙述作为一个简单、易于访问的工具，阐明他们认为将推动公司发展的因素，将这个故事转化为预测财务数据，然后将结果公允价值与当前价格进行比较，以帮助判断它看起来是买入、持有还是卖出。</p>
<p>由于叙述会随着新信息的到来而动态更新，例如新的收益结果或重大产品公告，因此您的公允价值观点可以实时演变，而不是停留在静态模型中。</p>
<p>例如，对于 monday.com，一位投资者可能会构建一个看涨的叙述，专注于强劲的人工智能采用和市场扩展，以支持接近每股 450 美元的公允价值。更谨慎的投资者可能会强调竞争和执行风险，并围绕接近 205 美元的公允价值构建他们的叙述。并排看到这些观点可以更容易地决定您认为市场目前低估了哪个故事。</p>
<p>您认为 monday.com 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/b018843d-ade7-4ca0-a323-86ec8739f1c3/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/b018843d-ade7-4ca0-a323-86ec8739f1c3/chart/quote-price"/></p>
<p>NasdaqGS:MNDY 1 年股票价格走势图</p>
<p>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。</p>
<p>国防和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，在任何地方在 30 分钟内提供 5G、ISR 和雷达。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

MNDY

<p>monday.com 的股票年初至今已下跌 35%，引发了对其投资吸引力的质疑。现金流折现（DCF）分析表明，该股票被低估了 20.8%，而市盈率分析则显示与行业同行相比，它被高估了。文章介绍了一种评估公司未来前景和公允价值的叙事框架</p>

<ul>
<li>Wondering if monday.com is starting to look like a bargain after its slide, or if the market is signaling deeper concerns about the business.</li>
<li>The stock is down 7.6% over the last week, 6.5% over the past month, and a steep 35.0% year to date, extending a 40.4% drop over the last year despite still being up 29.5% over three years.</li>
<li>Much of this volatility has been driven by shifting sentiment toward high growth software names as interest rate expectations change, with investors rotating in and out of the sector as risk appetite swings. At the same time, monday.com continues to roll out new platform capabilities and integrations that aim to deepen customer adoption and defend its competitive position.</li>
<li>On our checks, monday.com scores a 3/6 valuation score, suggesting it looks undervalued on some metrics but not across the board. In the next sections we will unpack those different valuation lenses, before finishing with a broader way to think about what the market might really be pricing in.</li>
</ul>
<div class="lb-trans"><ul>
<li>不知道 monday.com 在下滑后是否开始显得便宜，还是市场在传达对该业务更深层次的担忧。</li>
<li>该股在过去一周下跌了 7.6%，过去一个月下跌了 6.5%，年初至今下跌了 35.0%，尽管在过去三年中仍上涨了 29.5%，但在过去一年中已延续了 40.4% 的跌幅。</li>
<li>这种波动性主要是由于对高增长软件公司的情绪变化，随着利率预期的变化，投资者在该行业中轮动，风险偏好波动。同时，monday.com 继续推出新的平台功能和集成，旨在加深客户的采用并捍卫其竞争地位。</li>
<li>根据我们的调查，monday.com 的估值得分为 3/6，表明在某些指标上看起来被低估，但并非全面。在接下来的部分中，我们将详细分析这些不同的估值视角，最后以更广泛的方式思考市场可能真正定价的内容。</li>
</ul>
</div><p>Find out why monday.com's -40.4% return over the last year is lagging behind its peers.</p>
<div class="lb-trans"><p>了解为什么 monday.com 在过去一年中 -40.4% 的回报落后于其同行。</p>
</div><h3>Approach 1: monday.com Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法 1：monday.com 折现现金流 (DCF) 分析</h3>
</div><p>A Discounted Cash Flow model estimates what a company is worth by projecting the cash it can generate in the future and then discounting those cash flows back to today in dollar terms. For monday.com, the 2 Stage Free Cash Flow to Equity model starts with last twelve month free cash flow of about $331.0 million, and then applies analyst forecasts for the next few years before extrapolating longer term growth.</p>
<div class="lb-trans"><p>折现现金流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的美元价值，来估算公司的价值。对于 monday.com，2 阶段自由现金流到股权模型以过去 12 个月的自由现金流约 3.31 亿美元为起点，然后应用分析师对未来几年的预测，最后推算长期增长。</p>
</div><p>Analysts see free cash flow rising into the mid hundreds of millions of dollars over the next decade, with Simply Wall St projections pointing to around $1.1 billion of free cash flow by 2035. When all those future cash flows are discounted back to today, the model arrives at an intrinsic value of roughly $189.62 per share.</p>
<div class="lb-trans"><p>分析师预计未来十年自由现金流将上升至数亿美金中期，Simply Wall St 的预测指向到 2035 年约 11 亿美元的自由现金流。当所有这些未来现金流折现回今天时，模型得出的内在价值大约为每股 189.62 美元。</p>
</div><p>Compared to the current share price, this implies a 20.8% discount. This indicates the market is pricing in a more cautious outlook than the cash flow projections assume.</p>
<div class="lb-trans"><p>与当前股价相比，这意味着有 20.8% 的折扣。这表明市场对未来的展望比现金流预测所假设的更为谨慎。</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 monday.com is undervalued by 20.8%. Track this in your watchlist or portfolio, or discover 915 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，monday.com 被低估了 20.8%。将其添加到您的观察列表或投资组合中，或发现基于现金流的 915 只更多被低估的股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b018843d-ade7-4ca0-a323-86ec8739f1c3/chart/dcf" alt="" original-src="https://images.simplywall.st/company/b018843d-ade7-4ca0-a323-86ec8739f1c3/chart/dcf"/></p>
<p>MNDY Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 MNDY 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 monday.com.</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 monday.com 的公允价值的更多细节。</p>
</div><h3>Approach 2: monday.com Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：monday.com 价格与收益</h3>
</div><p>For a profitable company like monday.com, the price to earnings ratio is a useful way to gauge how much investors are willing to pay for each dollar of current profits. Higher growth and lower perceived risk usually justify a higher PE, while slower growth or greater uncertainty typically call for a lower, more conservative multiple.</p>
<div class="lb-trans"><p>对于像 monday.com 这样的盈利公司，市盈率是衡量投资者愿意为每一美元当前利润支付多少的有用方式。更高的增长和较低的风险通常会导致更高的市盈率，而较慢的增长或更大的不确定性通常会要求较低、更保守的倍数。</p>
</div><p>monday.com currently trades on a rich 119.0x PE, well above the broader Software industry average of about 32.7x and also ahead of its high growth peer group at around 39.0x. On those simple comparisons alone, the stock screens as expensive. To go a level deeper, Simply Wall St calculates a proprietary Fair Ratio of 43.1x, which reflects what a reasonable PE might be once you factor in monday.com's earnings growth outlook, profit margins, industry dynamics, market cap and specific risk profile.</p>
<div class="lb-trans"><p>monday.com 目前的市盈率为 119.0 倍，远高于更广泛的软件行业平均水平约 32.7 倍，也高于其高增长同行组的约 39.0 倍。仅凭这些简单的比较，该股看起来就很昂贵。更深入地说，Simply Wall St 计算出一个专有的公允比率为 43.1 倍，这反映了在考虑到 monday.com 的盈利增长前景、利润率、行业动态、市值和特定风险特征后，合理的市盈率可能是什么。</p>
</div><p>This Fair Ratio framework is more tailored than blunt peer or industry comparisons, because it explicitly bakes in how fast the company is expected to grow and how risky those cash flows are. Set against that 43.1x Fair Ratio, the current 119.0x PE suggests the market is paying a substantial premium to what fundamentals alone would support.</p>
<div class="lb-trans"><p>这个公允比率框架比简单的同行或行业比较更具针对性，因为它明确考虑了公司预计的增长速度以及这些现金流的风险。与 43.1 倍的公允比率相比，目前的 119.0 倍市盈率表明市场正在为基本面所支持的价值支付相当大的溢价。</p>
</div><p><strong>Result: OVERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被高估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b018843d-ade7-4ca0-a323-86ec8739f1c3/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/b018843d-ade7-4ca0-a323-86ec8739f1c3/chart/pe-multiple-vs-industry"/></p>
<p>NasdaqGS:MNDY PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NasdaqGS:MNDY 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1461 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 1461 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 monday.com Narrative</h3>
<div class="lb-trans"><h3>升级您的决策：选择您的 monday.com 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 that lets you wrap a clear story around your numbers by linking your assumptions for monday.com's future revenue, earnings and margins to a financial forecast and, ultimately, a fair value estimate.</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，因此让我们向您介绍叙述，这是一个简单的框架，让您通过将对 monday.com 未来收入、收益和利润率的假设与财务预测和最终的公允价值估计联系起来，来围绕您的数字构建一个清晰的故事。</p>
</div><p>On Simply Wall St's Community page, millions of investors use Narratives as an easy, accessible tool to set out what they believe will drive a company over time, translate that story into projected financials, and then compare the resulting Fair Value to the current Price to help inform whether it looks like a buy, hold or sell.</p>
<div class="lb-trans"><p>在 Simply Wall St 的社区页面上，数百万投资者使用叙述作为一个简单、易于访问的工具，阐明他们认为将推动公司发展的因素，将这个故事转化为预测财务数据，然后将结果公允价值与当前价格进行比较，以帮助判断它看起来是买入、持有还是卖出。</p>
</div><p>Because Narratives update dynamically as fresh information arrives, such as new earnings results or major product announcements, your fair value view can evolve in real time rather than staying frozen in a static model.</p>
<div class="lb-trans"><p>由于叙述会随着新信息的到来而动态更新，例如新的收益结果或重大产品公告，因此您的公允价值观点可以实时演变，而不是停留在静态模型中。</p>
</div><p>For monday.com, for example, one investor might build a bullish Narrative that focuses on strong AI adoption and upmarket expansion to support a fair value closer to $450 per share. A more cautious investor could emphasize competition and execution risks and anchor their Narrative around a fair value nearer $205. Seeing those perspectives side by side can make it easier to decide which story you believe the market is currently underappreciating.</p>
<div class="lb-trans"><p>例如，对于 monday.com，一位投资者可能会构建一个看涨的叙述，专注于强劲的人工智能采用和市场扩展，以支持接近每股 450 美元的公允价值。更谨慎的投资者可能会强调竞争和执行风险，并围绕接近 205 美元的公允价值构建他们的叙述。并排看到这些观点可以更容易地决定您认为市场目前低估了哪个故事。</p>
</div><p>Do you think there's more to the story for monday.com? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>您认为 monday.com 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/b018843d-ade7-4ca0-a323-86ec8739f1c3/chart/quote-price" alt="" original-src="https://images.simplywall.st/company/b018843d-ade7-4ca0-a323-86ec8739f1c3/chart/quote-price"/></p>
<p>NasdaqGS:MNDY 1-Year Stock Price Chart</p>
<div class="lb-trans"><p>NasdaqGS:MNDY 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>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。</p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>国防和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，在任何地方在 30 分钟内提供 5G、ISR 和雷达。</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>由 CiTech 赞助</p>
</div>

在 2025 年股价下滑 35% 之后，Monday.com 是否开始显得具有吸引力？