<ul>
<li>如果你在想 ZIM Integrated Shipping Services 是否仍然是一个便宜的选择，或者轻松获利的机会是否已经过去，本文将深入探讨数字真正反映的价值。</li>
<li>最近这只股票的表现非常活跃，过去一周上涨了 2.6%，过去一个月上涨了 14.9%，过去一年上涨了 36.3%，尽管年初至今仍下跌了 17.5%。</li>
<li>这些波动部分是由于全球货运价格和集装箱需求的预期变化，投资者试图评估高企的价格和重新规划的航运路线可能持续多久。ZIM 还因其在关键贸易路线上的战略定位以及持续管理产能和成本的努力而登上头条，这些因素可能迅速改变市场对其未来现金流的定价。</li>
<li>目前，ZIM 在我们的估值检查中得分为 4 分（满分 6 分）。这表明在大多数指标上，它被认为是低估的，但并非所有指标都如此。接下来我们将详细分析这些不同的估值方法，并在文章末尾介绍一种更具洞察力的价值思考方式。</li>
</ul>
<p>ZIM Integrated Shipping Services 在过去一年中实现了 36.3% 的回报。看看这与航运行业的其他公司相比如何。</p>
<h3>方法 1：ZIM Integrated Shipping Services 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，然后将这些现金流折现回今天的美元价值，来估算公司的价值。</p>
<p>对于 ZIM Integrated Shipping Services，最新的十二个月自由现金流约为 28.9 亿美元，这一水平预计不会无限期维持。使用两阶段自由现金流到股本模型，分析师预测 2026 年的自由现金流为 7.31 亿美元，2027 年为 6.26 亿美元，Simply Wall St 预计此后将出现更为正常的现金流。到 2035 年，预计自由现金流将降至约 5.49 亿美元，反映出当前异常强劲的条件逐渐减弱。</p>
<p>当所有这些未来的现金流折现回现值时，该模型得出的内在价值约为每股 34.54 美元。与当前市场价格相比，这意味着该股票大约低估了 44.3%。这表明市场仍在定价一个比现金流预测所能证明的更悲观的长期前景。</p>
<p><strong>结果：低估</strong></p>
<p>我们的折现现金流（DCF）分析表明 ZIM Integrated Shipping Services 被低估了 44.3%。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 910 只更多低估股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d82d440d-28e4-4dd3-8b77-37cc7521980f/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/d82d440d-28e4-4dd3-8b77-37cc7521980f/chart/dcf"/></p>
<p>截至 2025 年 12 月的 ZIM 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 ZIM Integrated Shipping Services 的公允价值的更多细节。</p>
<h3>方法 2：ZIM Integrated Shipping Services 市盈率与收益</h3>
<p>对于像 ZIM Integrated Shipping Services 这样的盈利公司，市盈率是一个有用的衡量标准，因为它直接将投资者今天支付的价格与公司当前产生的利润联系起来。一般来说，具有更强增长前景和较低感知风险的公司可以合理化更高的市盈率倍数，而那些收益更具周期性或不确定性的公司通常以较低的倍数交易。</p>
<p>ZIM 当前的市盈率约为 2.3 倍，远低于航运行业平均水平约 9.9 倍和更广泛的同行平均水平约 13.0 倍。从表面上看，这种折扣表明市场对当前收益的持续性持非常怀疑态度，或者对公司特定风险进行了大幅折扣。</p>
<p>Simply Wall St 的公允比率约为 0.8 倍，提供了更为量身定制的视角。这个专有指标估算了考虑到 ZIM 的收益增长前景、风险特征、利润率、市场资本和行业特征后，合理的市盈率应该是多少。由于它融合了这些公司特定的驱动因素，因此比简单的同行比较或可能具有非常不同增长和风险特征的行业平均值更具信息性。公允比率 0.8 倍远低于当前的 2.3 倍，因此在这个框架下，该股票被认为是略显昂贵的。</p>
<p><strong>结果：高估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d82d440d-28e4-4dd3-8b77-37cc7521980f/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/d82d440d-28e4-4dd3-8b77-37cc7521980f/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NYSE:ZIM 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 1462 家内部人士正在大举押注爆炸性增长的公司。</p>
<h3>提升你的决策能力：选择你的 ZIM Integrated Shipping Services 叙述</h3>
<p>我们之前提到过，还有一种更好的理解估值的方法，因此让我们向你介绍叙述，这是一种简单的方法，通过讲述关于 ZIM Integrated Shipping Services 未来收入、收益和利润率的故事，将你对其的看法与数字联系起来，然后将这个故事与财务预测和公允价值估算联系起来，以便与今天的股价进行比较。Simply Wall St 上的叙述可在社区页面上找到，并被数百万投资者使用，使这个过程变得可访问，通过将对航运需求、货运价格、利润率和风险的假设转化为一个动态估值，当新的信息如收益、新闻或分析师预测变化时，自动更新。对于 ZIM，一位投资者可能会围绕跨太平洋运输量的减少、约 1% 的较薄利润率和接近 13 美元的公允价值构建一个谨慎的叙述，而另一位投资者可能会关注船队升级、航线多样化和更强的长期盈利能力，以证明更高的公允价值。比较每个叙述的公允价值与当前价格有助于投资者决定 ZIM 是否看起来值得买入、持有或出售。</p>
<p>你认为 ZIM Integrated Shipping Services 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/d82d440d-28e4-4dd3-8b77-37cc7521980f/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/d82d440d-28e4-4dd3-8b77-37cc7521980f/chart/quote-price"/></p>
<p>纽约证券交易所：ZIM 1 年股票价格图表</p>
<p><em>这篇文章来自 Simply Wall St，内容为一般性信息。<strong>我们基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章不构成财务建议。</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没有持仓。</em></p>
<p>用于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 和雷达的全自动塔。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

以星航运

<p>以星航运在过去一年中上涨了 36.3%，这与货运预期的变化有关。尽管年初至今下跌了 17.5%，但根据折现现金流分析，它被认为低估了 44.3%。然而，其市盈率表明它可能略微高估。投资者正在评估其在全球货运价格和集装箱需求背景下的战略定位和产能管理</p>

<ul>
<li>If you are wondering whether ZIM Integrated Shipping Services is still a bargain or if the easy money has already been made, this article will walk through what the numbers are really saying about its value.</li>
<li>The stock has been anything but quiet lately, with shares up 2.6% over the last week, 14.9% over the past month, and 36.3% over the last year, even though it remains down 17.5% year to date.</li>
<li>These moves have been driven in part by shifting expectations around global freight rates and container demand, as investors try to gauge how long elevated pricing and rerouted shipping lanes might last. ZIM has also been in the headlines for its strategic positioning on key trade routes and ongoing efforts to manage capacity and costs, which can quickly change how the market prices its future cash flows.</li>
<li>Right now, ZIM scores a 4 out of 6 on our valuation checks. This suggests it screens as undervalued on most, but not all, metrics. We will unpack those different valuation approaches next and then introduce an even more insightful way to think about value at the end of the article.</li>
</ul>
<div class="lb-trans"><ul>
<li>如果你在想 ZIM Integrated Shipping Services 是否仍然是一个便宜的选择，或者轻松获利的机会是否已经过去，本文将深入探讨数字真正反映的价值。</li>
<li>最近这只股票的表现非常活跃，过去一周上涨了 2.6%，过去一个月上涨了 14.9%，过去一年上涨了 36.3%，尽管年初至今仍下跌了 17.5%。</li>
<li>这些波动部分是由于全球货运价格和集装箱需求的预期变化，投资者试图评估高企的价格和重新规划的航运路线可能持续多久。ZIM 还因其在关键贸易路线上的战略定位以及持续管理产能和成本的努力而登上头条，这些因素可能迅速改变市场对其未来现金流的定价。</li>
<li>目前，ZIM 在我们的估值检查中得分为 4 分（满分 6 分）。这表明在大多数指标上，它被认为是低估的，但并非所有指标都如此。接下来我们将详细分析这些不同的估值方法，并在文章末尾介绍一种更具洞察力的价值思考方式。</li>
</ul>
</div><p>ZIM Integrated Shipping Services delivered 36.3% returns over the last year. See how this stacks up to the rest of the Shipping industry.</p>
<div class="lb-trans"><p>ZIM Integrated Shipping Services 在过去一年中实现了 36.3% 的回报。看看这与航运行业的其他公司相比如何。</p>
</div><h3>Approach 1: ZIM Integrated Shipping Services Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法 1：ZIM Integrated Shipping Services 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, then discounting those cash flows back to today in dollar terms.</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，然后将这些现金流折现回今天的美元价值，来估算公司的价值。</p>
</div><p>For ZIM Integrated Shipping Services, the latest twelve month Free Cash Flow is about $2.89 billion, a level that is not expected to be sustained indefinitely. Using a 2 Stage Free Cash Flow to Equity model, analysts forecast FCF of $731 million in 2026 and $626 million in 2027, with Simply Wall St extrapolating more normalized cash flows thereafter. By 2035, projected FCF moderates to roughly $549 million, reflecting a gradual step down from the current unusually strong conditions.</p>
<div class="lb-trans"><p>对于 ZIM Integrated Shipping Services，最新的十二个月自由现金流约为 28.9 亿美元，这一水平预计不会无限期维持。使用两阶段自由现金流到股本模型，分析师预测 2026 年的自由现金流为 7.31 亿美元，2027 年为 6.26 亿美元，Simply Wall St 预计此后将出现更为正常的现金流。到 2035 年，预计自由现金流将降至约 5.49 亿美元，反映出当前异常强劲的条件逐渐减弱。</p>
</div><p>When all these future dollar cash flows are discounted back, the model arrives at an intrinsic value of about $34.54 per share. Compared with the current market price, this implies the stock is roughly 44.3% undervalued. This indicates the market is still pricing in a more pessimistic long term outlook than the cash flow projections would justify.</p>
<div class="lb-trans"><p>当所有这些未来的现金流折现回现值时，该模型得出的内在价值约为每股 34.54 美元。与当前市场价格相比，这意味着该股票大约低估了 44.3%。这表明市场仍在定价一个比现金流预测所能证明的更悲观的长期前景。</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 ZIM Integrated Shipping Services is undervalued by 44.3%. Track this in your watchlist or portfolio, or discover 910 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 ZIM Integrated Shipping Services 被低估了 44.3%。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 910 只更多低估股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d82d440d-28e4-4dd3-8b77-37cc7521980f/chart/dcf" alt="" original-src="https://images.simplywall.st/company/d82d440d-28e4-4dd3-8b77-37cc7521980f/chart/dcf"/></p>
<p>ZIM Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 ZIM 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 ZIM Integrated Shipping Services.</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 ZIM Integrated Shipping Services 的公允价值的更多细节。</p>
</div><h3>Approach 2: ZIM Integrated Shipping Services Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：ZIM Integrated Shipping Services 市盈率与收益</h3>
</div><p>For a profitable company like ZIM Integrated Shipping Services, the price to earnings ratio is a useful yardstick because it directly links what investors pay today to the profits the business is generating right now. In general, companies with stronger growth prospects and lower perceived risk can justify a higher PE multiple, while those with more cyclical or uncertain earnings usually trade on lower multiples.</p>
<div class="lb-trans"><p>对于像 ZIM Integrated Shipping Services 这样的盈利公司，市盈率是一个有用的衡量标准，因为它直接将投资者今天支付的价格与公司当前产生的利润联系起来。一般来说，具有更强增长前景和较低感知风险的公司可以合理化更高的市盈率倍数，而那些收益更具周期性或不确定性的公司通常以较低的倍数交易。</p>
</div><p>ZIM currently trades on a PE of about 2.3x, which is far below both the Shipping industry average of roughly 9.9x and the wider peer group average of around 13.0x. On the surface, that kind of discount suggests the market is either very skeptical about the durability of current earnings or heavily discounting company specific risks.</p>
<div class="lb-trans"><p>ZIM 当前的市盈率约为 2.3 倍，远低于航运行业平均水平约 9.9 倍和更广泛的同行平均水平约 13.0 倍。从表面上看，这种折扣表明市场对当前收益的持续性持非常怀疑态度，或者对公司特定风险进行了大幅折扣。</p>
</div><p>Simply Wall St’s Fair Ratio, at about 0.8x, offers a more tailored view. This proprietary metric estimates what a reasonable PE should be for ZIM given its earnings growth outlook, risk profile, profit margins, market cap and the characteristics of its industry. Because it blends these company specific drivers, it is more informative than a simple comparison with peers or an industry average that may have very different growth and risk profiles. With the Fair Ratio of 0.8x sitting well below the current 2.3x, the stock screens as slightly expensive on this framework.</p>
<div class="lb-trans"><p>Simply Wall St 的公允比率约为 0.8 倍，提供了更为量身定制的视角。这个专有指标估算了考虑到 ZIM 的收益增长前景、风险特征、利润率、市场资本和行业特征后，合理的市盈率应该是多少。由于它融合了这些公司特定的驱动因素，因此比简单的同行比较或可能具有非常不同增长和风险特征的行业平均值更具信息性。公允比率 0.8 倍远低于当前的 2.3 倍，因此在这个框架下，该股票被认为是略显昂贵的。</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/d82d440d-28e4-4dd3-8b77-37cc7521980f/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/d82d440d-28e4-4dd3-8b77-37cc7521980f/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:ZIM PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NYSE:ZIM 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1462 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 1462 家内部人士正在大举押注爆炸性增长的公司。</p>
</div><h3>Upgrade Your Decision Making: Choose your ZIM Integrated Shipping Services Narrative</h3>
<div class="lb-trans"><h3>提升你的决策能力：选择你的 ZIM Integrated Shipping Services 叙述</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 ZIM Integrated Shipping Services with the numbers by telling a story about its future revenue, earnings and margins, then linking that story to a financial forecast and a Fair Value estimate you can compare with today’s share price. Narratives on Simply Wall St, available on the Community page and used by millions of investors, make this process accessible by turning assumptions about shipping demand, freight rates, margins and risk into a living valuation that automatically updates when new information like earnings, news or changes in analyst forecasts comes in. For ZIM, one investor might build a cautious Narrative around shrinking Transpacific volumes, thinner profit margins of about 1 percent and a Fair Value near 13 dollars, while another might focus on fleet upgrades, route diversification and stronger long term profitability to justify a higher Fair Value. Comparing each Narrative’s Fair Value to the current price helps both investors decide whether ZIM looks like a buy, hold or sell.</p>
<div class="lb-trans"><p>我们之前提到过，还有一种更好的理解估值的方法，因此让我们向你介绍叙述，这是一种简单的方法，通过讲述关于 ZIM Integrated Shipping Services 未来收入、收益和利润率的故事，将你对其的看法与数字联系起来，然后将这个故事与财务预测和公允价值估算联系起来，以便与今天的股价进行比较。Simply Wall St 上的叙述可在社区页面上找到，并被数百万投资者使用，使这个过程变得可访问，通过将对航运需求、货运价格、利润率和风险的假设转化为一个动态估值，当新的信息如收益、新闻或分析师预测变化时，自动更新。对于 ZIM，一位投资者可能会围绕跨太平洋运输量的减少、约 1% 的较薄利润率和接近 13 美元的公允价值构建一个谨慎的叙述，而另一位投资者可能会关注船队升级、航线多样化和更强的长期盈利能力，以证明更高的公允价值。比较每个叙述的公允价值与当前价格有助于投资者决定 ZIM 是否看起来值得买入、持有或出售。</p>
</div><p>Do you think there's more to the story for ZIM Integrated Shipping Services? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>你认为 ZIM Integrated Shipping Services 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/d82d440d-28e4-4dd3-8b77-37cc7521980f/chart/quote-price" alt="" original-src="https://images.simplywall.st/company/d82d440d-28e4-4dd3-8b77-37cc7521980f/chart/quote-price"/></p>
<p>NYSE:ZIM 1-Year Stock Price Chart</p>
<div class="lb-trans"><p>纽约证券交易所：ZIM 1 年股票价格图表</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>这篇文章来自 Simply Wall St，内容为一般性信息。<strong>我们基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章不构成财务建议。</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没有持仓。</em></p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>用于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 和雷达的全自动塔。</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>由 CiTech 赞助</p>
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在货运前景变化的背景下，以星航运股价已上涨 36.3%，现在考虑投资是否为时已晚？