<p>当美国互动媒体和服务行业近一半的公司市销率（或称 &#34;P/S&#34;）超过 1.1 倍时，您可能会考虑 <strong>36Kr Holdings Inc.</strong> (NASDAQ:KRKR) 作为一个具有吸引力的投资，因为其市销率为 0.3 倍。然而，我们需要更深入地挖掘，以确定这种较低的市销率是否有合理的基础。</p>
<p>人工智能即将改变医疗保健。这 20 只股票正在从早期诊断到药物发现的各个方面进行工作。最棒的是——它们的市值都在 100 亿美元以下——现在仍然有机会提前入场。</p>
<p>查看我们对 36Kr Holdings 的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/638901532-ps-multiple-vs-industry-1-dark-2/1766838728646?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/638901532-ps-multiple-vs-industry-1-dark-2/1766838728646"/></p>
<p>NasdaqCM:KRKR 市销率与行业比较 2025 年 12 月 27 日</p>
<h3>36Kr Holdings 最近的表现如何？</h3>
<p>例如，36Kr Holdings 最近收入的下降值得深思。也许市场认为最近的收入表现不足以跟上行业，导致市销率受到影响。看好 36Kr Holdings 的人希望这不是事实，以便他们能够以较低的估值买入该股票。</p>
<p>我们没有分析师的预测，但您可以通过查看我们关于 36Kr Holdings 的 <strong>免费</strong> 报告，了解最近的趋势如何为公司未来铺路，包括收益、收入和现金流。</p>
<h2>36Kr Holdings 是否有收入增长的预测？</h2>
<p>有一个内在的假设，即公司应该低于行业表现，才能使像 36Kr Holdings 这样的市销率被认为是合理的。</p>
<p>回顾过去一年，公司营收下降了 27%，这令人沮丧。这意味着在更长的时间内，收入也出现了下滑，过去三年总收入下降了 33%。因此，股东们对中期收入增长的速度感到失望。</p>
<p>将这一中期收入轨迹与更广泛行业的年度扩张预测 16% 进行比较，显示出这是一个不太乐观的前景。</p>
<p>根据这些信息，我们并不感到惊讶 36Kr Holdings 的市销率低于行业。然而，随着收入的下滑，市销率是否已经触底并没有保证。如果公司不改善其收入增长，市销率可能会进一步下降。</p>
<h2>我们可以从 36Kr Holdings 的市销率中学到什么？</h2>
<p>通常情况下，我们会警告在做出投资决策时不要过于关注市销率，尽管它可以揭示其他市场参与者对公司的看法。</p>
<p>我们对 36Kr Holdings 的审查确认，过去中期公司收入的缩减是其低市销率的关键因素，因为行业预计将增长。目前，股东们接受低市销率，因为他们承认未来的收入可能也不会带来任何令人愉快的惊喜。如果最近的中期收入趋势持续下去，在这种情况下，很难看到股价在短期内有强劲的波动。</p>
<p>话虽如此，请注意 <strong>36Kr Holdings 在我们的投资分析中显示出 1 个警告信号</strong>，您应该了解。</p>
<p>当然，<strong>盈利的公司如果有良好的盈利增长历史，通常是更安全的投资</strong>。因此，您可能希望查看这份 <strong>免费</strong> 的其他公司集合，这些公司有合理的市盈率并且盈利增长强劲。</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型的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，随处可用。</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>

36氪

<p>36Kr Holdings Inc.（纳斯达克代码：KRKR）的市销率为 0.3 倍，低于行业平均水平 1.1 倍，这主要是由于收入下降。该公司的收入去年减少了 27%，三年来减少了 33%，而行业的增长预测为 16%。这种下降导致其估值偏低，如果收入没有改善，市销率可能会进一步下滑。投资者对此持谨慎态度，承认公司面临的收入挑战</p>

<p>When close to half the companies operating in the Interactive Media and Services industry in the United States have price-to-sales ratios (or &#34;P/S&#34;) above 1.1x, you may consider <strong>36Kr Holdings Inc.</strong> (NASDAQ:KRKR) as an attractive investment with its 0.3x P/S ratio. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the reduced P/S.</p>
<div class="lb-trans"><p>当美国互动媒体和服务行业近一半的公司市销率（或称 &#34;P/S&#34;）超过 1.1 倍时，您可能会考虑 <strong>36Kr Holdings Inc.</strong> (NASDAQ:KRKR) 作为一个具有吸引力的投资，因为其市销率为 0.3 倍。然而，我们需要更深入地挖掘，以确定这种较低的市销率是否有合理的基础。</p>
</div><p>AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early.</p>
<div class="lb-trans"><p>人工智能即将改变医疗保健。这 20 只股票正在从早期诊断到药物发现的各个方面进行工作。最棒的是——它们的市值都在 100 亿美元以下——现在仍然有机会提前入场。</p>
</div><p>View our latest analysis for 36Kr Holdings</p>
<div class="lb-trans"><p>查看我们对 36Kr Holdings 的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/638901532-ps-multiple-vs-industry-1-dark-2/1766838728646" alt="" original-src="https://images.simplywall.st/asset/chart/638901532-ps-multiple-vs-industry-1-dark-2/1766838728646"/></p>
<p>NasdaqCM:KRKR Price to Sales Ratio vs Industry December 27th 2025</p>
<div class="lb-trans"><p>NasdaqCM:KRKR 市销率与行业比较 2025 年 12 月 27 日</p>
</div><h3>How Has 36Kr Holdings Performed Recently?</h3>
<div class="lb-trans"><h3>36Kr Holdings 最近的表现如何？</h3>
</div><p>For instance, 36Kr Holdings' receding revenue in recent times would have to be some food for thought. Perhaps the market believes the recent revenue performance isn't good enough to keep up the industry, causing the P/S ratio to suffer. Those who are bullish on 36Kr Holdings will be hoping that this isn't the case so that they can pick up the stock at a lower valuation.</p>
<div class="lb-trans"><p>例如，36Kr Holdings 最近收入的下降值得深思。也许市场认为最近的收入表现不足以跟上行业，导致市销率受到影响。看好 36Kr Holdings 的人希望这不是事实，以便他们能够以较低的估值买入该股票。</p>
</div><p>We don't have analyst forecasts, but you can see how recent trends are setting up the company for the future by checking out our <strong>free</strong> report on 36Kr Holdings' earnings, revenue and cash flow.</p>
<div class="lb-trans"><p>我们没有分析师的预测，但您可以通过查看我们关于 36Kr Holdings 的 <strong>免费</strong> 报告，了解最近的趋势如何为公司未来铺路，包括收益、收入和现金流。</p>
</div><h2>Is There Any Revenue Growth Forecasted For 36Kr Holdings?</h2>
<div class="lb-trans"><h2>36Kr Holdings 是否有收入增长的预测？</h2>
</div><p>There's an inherent assumption that a company should underperform the industry for P/S ratios like 36Kr Holdings' to be considered reasonable.</p>
<div class="lb-trans"><p>有一个内在的假设，即公司应该低于行业表现，才能使像 36Kr Holdings 这样的市销率被认为是合理的。</p>
</div><p>Retrospectively, the last year delivered a frustrating 27% decrease to the company's top line. This means it has also seen a slide in revenue over the longer-term as revenue is down 33% in total over the last three years. Accordingly, shareholders would have felt downbeat about the medium-term rates of revenue growth.</p>
<div class="lb-trans"><p>回顾过去一年，公司营收下降了 27%，这令人沮丧。这意味着在更长的时间内，收入也出现了下滑，过去三年总收入下降了 33%。因此，股东们对中期收入增长的速度感到失望。</p>
</div><p>Weighing that medium-term revenue trajectory against the broader industry's one-year forecast for expansion of 16% shows it's an unpleasant look.</p>
<div class="lb-trans"><p>将这一中期收入轨迹与更广泛行业的年度扩张预测 16% 进行比较，显示出这是一个不太乐观的前景。</p>
</div><p>With this information, we are not surprised that 36Kr Holdings is trading at a P/S lower than the industry. Nonetheless, there's no guarantee the P/S has reached a floor yet with revenue going in reverse. There's potential for the P/S to fall to even lower levels if the company doesn't improve its top-line growth.</p>
<div class="lb-trans"><p>根据这些信息，我们并不感到惊讶 36Kr Holdings 的市销率低于行业。然而，随着收入的下滑，市销率是否已经触底并没有保证。如果公司不改善其收入增长，市销率可能会进一步下降。</p>
</div><h2>What We Can Learn From 36Kr Holdings' P/S?</h2>
<div class="lb-trans"><h2>我们可以从 36Kr Holdings 的市销率中学到什么？</h2>
</div><p>Typically, we'd caution against reading too much into price-to-sales ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.</p>
<div class="lb-trans"><p>通常情况下，我们会警告在做出投资决策时不要过于关注市销率，尽管它可以揭示其他市场参与者对公司的看法。</p>
</div><p>Our examination of 36Kr Holdings confirms that the company's shrinking revenue over the past medium-term is a key factor in its low price-to-sales ratio, given the industry is projected to grow. Right now shareholders are accepting the low P/S as they concede future revenue probably won't provide any pleasant surprises either. If recent medium-term revenue trends continue, it's hard to see the share price moving strongly in either direction in the near future under these circumstances.</p>
<div class="lb-trans"><p>我们对 36Kr Holdings 的审查确认，过去中期公司收入的缩减是其低市销率的关键因素，因为行业预计将增长。目前，股东们接受低市销率，因为他们承认未来的收入可能也不会带来任何令人愉快的惊喜。如果最近的中期收入趋势持续下去，在这种情况下，很难看到股价在短期内有强劲的波动。</p>
</div><p>Having said that, be aware <strong>36Kr Holdings is showing 1 warning sign</strong> in our investment analysis, you should know about.</p>
<div class="lb-trans"><p>话虽如此，请注意 <strong>36Kr Holdings 在我们的投资分析中显示出 1 个警告信号</strong>，您应该了解。</p>
</div><p>Of course, <strong>profitable companies with a history of great earnings growth are generally safer bets</strong>. So you may wish to see this <strong>free</strong> collection of other companies that have reasonable P/E ratios and have grown earnings strongly.</p>
<div class="lb-trans"><p>当然，<strong>盈利的公司如果有良好的盈利增长历史，通常是更安全的投资</strong>。因此，您可能希望查看这份 <strong>免费</strong> 的其他公司集合，这些公司有合理的市盈率并且盈利增长强劲。</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型的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，随处可用。</p>
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<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
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<div class="lb-trans"><p>代表 CiTech 赞助</p>
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36 氪控股有限公司（纳斯达克股票代码：KRKR）的收入对其股价产生不利影响