<p><strong>Bitfarms Ltd.</strong> (TSE:BITF) 的股票在过去一个月表现糟糕，损失了 25%，而之前的表现相对较好。不过，糟糕的一个月并没有完全毁掉过去一年，股票仍然上涨了 56%，即使在牛市中也算不错。</p>
<p>尽管其价格大幅下跌，但 Bitfarms 的市销率（&#34;P/S&#34;）为 5.8 倍，与加拿大更广泛的软件行业相比，可能仍然显得像是一个卖出信号，因为大约一半的公司市销率低于 3.9 倍，甚至低于 1.5 倍的情况也相当普遍。不过，仅仅根据市销率来判断并不明智，因为可能有解释其如此之高的原因。</p>
<p>特朗普承诺要&#34;释放&#34;美国的石油和天然气，这 15 只美国股票的发展将受益。</p>
<p>查看我们对 Bitfarms 的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/546692373-ps-multiple-vs-industry-1-dark-2/1766926219862?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/asset/chart/546692373-ps-multiple-vs-industry-1-dark-2/1766926219862"/></p>
<p>TSX:BITF 市销率与行业对比 2025 年 12 月 28 日</p>
<h3>Bitfarms 的市销率对股东意味着什么？</h3>
<p>最近的时光对 Bitfarms 来说是有利的，因为其收入增长速度超过了大多数其他公司。市场似乎预期这种形式将持续到未来，因此市销率较高。如果不是，那么现有股东可能会对股价的可行性感到有些紧张。</p>
<p>如果您想了解分析师对未来的预测，您应该查看我们关于 Bitfarms 的 <strong>免费</strong> 报告。</p>
<h2>收入增长指标告诉我们关于高市销率的什么？</h2>
<p>为了证明其市销率的合理性，Bitfarms 需要实现超过行业的显著增长。</p>
<p>回顾过去一年，公司收入实现了 95% 的惊人增长。最近三年期间，收入也实现了 58% 的整体增长，这得益于其短期表现。因此，我们可以首先确认公司在这段时间内在收入增长方面做得非常出色。</p>
<p>展望未来，七位分析师预计收入将在未来一年内下降 3.4%。当行业其他部分预计增长 34% 时，这并不好。</p>
<p>考虑到这一点，我们发现 Bitfarms 的市销率与其行业同行密切匹配令人感兴趣。似乎大多数投资者希望公司的商业前景会有所好转，但分析师群体对此并不太有信心。如果市销率降到与负增长前景更为一致的水平，这些股东很有可能会面临未来的失望。</p>
<h2>关键要点</h2>
<p>尽管最近股价的表现不能与之相提并论，Bitfarms 的市销率仍然保持在较高水平。仅仅使用市销率来判断是否应该出售股票并不明智，但它可以作为公司未来前景的实用指南。</p>
<p>我们对 Bitfarms 分析师预测的审查显示，其收入前景的缩减并没有像我们预期的那样大幅拉低其高市销率。在这种情况下，我们怀疑股价有跟随下跌的风险，从而使高市销率回归到合理范围。这使得股东的投资面临重大风险，潜在投资者也可能面临支付过高溢价的危险。</p>
<p>在您采取下一步之前，您应该了解我们发现的 <strong>Bitfarms 的 3 个警告信号</strong>（其中 1 个令人担忧！）。</p>
<p>如果您对 Bitfarms 的业务实力 <strong>不确定</strong>，为什么不探索我们互动的股票列表，寻找一些您可能错过的基本面良好的其他公司呢？</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 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>由 CiTech 赞助</p>

BITF

<p>Bitfarms Ltd.（多伦多证券交易所代码：BITF）的股价最近下跌了 25%，尽管过去一年上涨了 56%。其市销率为 5.8 倍，相较于许多市销率较低的加拿大软件行业而言偏高。尽管收入增长强劲，但分析师预测明年将下降 3.4%，而行业则预计增长 34%。如果市销率与负增长预期相符，投资者可能会面临失望，这对股东投资构成风险</p>

<p><strong>Bitfarms Ltd.</strong> (TSE:BITF) shares have had a horrible month, losing 25% after a relatively good period beforehand. Still, a bad month hasn't completely ruined the past year with the stock gaining 56%, which is great even in a bull market.</p>
<div class="lb-trans"><p><strong>Bitfarms Ltd.</strong> (TSE:BITF) 的股票在过去一个月表现糟糕，损失了 25%，而之前的表现相对较好。不过，糟糕的一个月并没有完全毁掉过去一年，股票仍然上涨了 56%，即使在牛市中也算不错。</p>
</div><p>Although its price has dipped substantially, Bitfarms' price-to-sales (or &#34;P/S&#34;) ratio of 5.8x might still make it look like a sell right now compared to the wider Software industry in Canada, where around half of the companies have P/S ratios below 3.9x and even P/S below 1.5x are quite common. Although, it's not wise to just take the P/S at face value as there may be an explanation why it's as high as it is.</p>
<div class="lb-trans"><p>尽管其价格大幅下跌，但 Bitfarms 的市销率（&#34;P/S&#34;）为 5.8 倍，与加拿大更广泛的软件行业相比，可能仍然显得像是一个卖出信号，因为大约一半的公司市销率低于 3.9 倍，甚至低于 1.5 倍的情况也相当普遍。不过，仅仅根据市销率来判断并不明智，因为可能有解释其如此之高的原因。</p>
</div><p>Trump has pledged to &#34;unleash&#34; American oil and gas and these 15 US stocks have developments that are poised to benefit.</p>
<div class="lb-trans"><p>特朗普承诺要&#34;释放&#34;美国的石油和天然气，这 15 只美国股票的发展将受益。</p>
</div><p>See our latest analysis for Bitfarms</p>
<div class="lb-trans"><p>查看我们对 Bitfarms 的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/546692373-ps-multiple-vs-industry-1-dark-2/1766926219862" alt="" original-src="https://images.simplywall.st/asset/chart/546692373-ps-multiple-vs-industry-1-dark-2/1766926219862"/></p>
<p>TSX:BITF Price to Sales Ratio vs Industry December 28th 2025</p>
<div class="lb-trans"><p>TSX:BITF 市销率与行业对比 2025 年 12 月 28 日</p>
</div><h3>What Does Bitfarms' P/S Mean For Shareholders?</h3>
<div class="lb-trans"><h3>Bitfarms 的市销率对股东意味着什么？</h3>
</div><p>Recent times have been advantageous for Bitfarms as its revenues have been rising faster than most other companies. It seems the market expects this form will continue into the future, hence the elevated P/S ratio. If not, then existing shareholders might be a little nervous about the viability of the share price.</p>
<div class="lb-trans"><p>最近的时光对 Bitfarms 来说是有利的，因为其收入增长速度超过了大多数其他公司。市场似乎预期这种形式将持续到未来，因此市销率较高。如果不是，那么现有股东可能会对股价的可行性感到有些紧张。</p>
</div><p>If you'd like to see what analysts are forecasting going forward, you should check out our <strong>free</strong> report on Bitfarms.</p>
<div class="lb-trans"><p>如果您想了解分析师对未来的预测，您应该查看我们关于 Bitfarms 的 <strong>免费</strong> 报告。</p>
</div><h2>What Are Revenue Growth Metrics Telling Us About The High P/S?</h2>
<div class="lb-trans"><h2>收入增长指标告诉我们关于高市销率的什么？</h2>
</div><p>In order to justify its P/S ratio, Bitfarms would need to produce impressive growth in excess of the industry.</p>
<div class="lb-trans"><p>为了证明其市销率的合理性，Bitfarms 需要实现超过行业的显著增长。</p>
</div><p>Retrospectively, the last year delivered an exceptional 95% gain to the company's top line. The latest three year period has also seen an excellent 58% overall rise in revenue, aided by its short-term performance. So we can start by confirming that the company has done a great job of growing revenue over that time.</p>
<div class="lb-trans"><p>回顾过去一年，公司收入实现了 95% 的惊人增长。最近三年期间，收入也实现了 58% 的整体增长，这得益于其短期表现。因此，我们可以首先确认公司在这段时间内在收入增长方面做得非常出色。</p>
</div><p>Looking ahead now, revenue is anticipated to slump, contracting by 3.4% during the coming year according to the seven analysts following the company. That's not great when the rest of the industry is expected to grow by 34%.</p>
<div class="lb-trans"><p>展望未来，七位分析师预计收入将在未来一年内下降 3.4%。当行业其他部分预计增长 34% 时，这并不好。</p>
</div><p>With this in mind, we find it intriguing that Bitfarms' P/S is closely matching its industry peers. It seems most investors are hoping for a turnaround in the company's business prospects, but the analyst cohort is not so confident this will happen. There's a very good chance these shareholders are setting themselves up for future disappointment if the P/S falls to levels more in line with the negative growth outlook.</p>
<div class="lb-trans"><p>考虑到这一点，我们发现 Bitfarms 的市销率与其行业同行密切匹配令人感兴趣。似乎大多数投资者希望公司的商业前景会有所好转，但分析师群体对此并不太有信心。如果市销率降到与负增长前景更为一致的水平，这些股东很有可能会面临未来的失望。</p>
</div><h2>The Key Takeaway</h2>
<div class="lb-trans"><h2>关键要点</h2>
</div><p>There's still some elevation in Bitfarms' P/S, even if the same can't be said for its share price recently. Using the price-to-sales ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.</p>
<div class="lb-trans"><p>尽管最近股价的表现不能与之相提并论，Bitfarms 的市销率仍然保持在较高水平。仅仅使用市销率来判断是否应该出售股票并不明智，但它可以作为公司未来前景的实用指南。</p>
</div><p>Our examination of Bitfarms' analyst forecasts revealed that its shrinking revenue outlook isn't drawing down its high P/S anywhere near as much as we would have predicted. In cases like this where we see revenue decline on the horizon, we suspect the share price is at risk of following suit, bringing back the high P/S into the realms of suitability. This places shareholders' investments at significant risk and potential investors in danger of paying an excessive premium.</p>
<div class="lb-trans"><p>我们对 Bitfarms 分析师预测的审查显示，其收入前景的缩减并没有像我们预期的那样大幅拉低其高市销率。在这种情况下，我们怀疑股价有跟随下跌的风险，从而使高市销率回归到合理范围。这使得股东的投资面临重大风险，潜在投资者也可能面临支付过高溢价的危险。</p>
</div><p>Before you take the next step, you should know about the <strong>3 warning signs for Bitfarms</strong> (1 is concerning!) that we have uncovered.</p>
<div class="lb-trans"><p>在您采取下一步之前，您应该了解我们发现的 <strong>Bitfarms 的 3 个警告信号</strong>（其中 1 个令人担忧！）。</p>
</div><p>If you're <strong>unsure about the strength of Bitfarms' business</strong>, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.</p>
<div class="lb-trans"><p>如果您对 Bitfarms 的业务实力 <strong>不确定</strong>，为什么不探索我们互动的股票列表，寻找一些您可能错过的基本面良好的其他公司呢？</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 30 分钟内提供 5G、ISR 和雷达，随处可用。</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>

Bitfarms Ltd.（TSE:BITF）股价下跌 25%，仍然让一些股东对其市销率感到不安