<p>什麼構成價值股並沒有硬性規定。更多的是關於感覺。嗯，其實不僅僅是這樣。你可以對一家公司有任何感覺，説它是被低估的價值股。但如果一家企業的基本面不匹配，那麼你不是在投資，而是在賭博。你不如去飛鏢靶子上扔飛鏢。</p>
<p>然而，有更好的方法。尋找相對於市場而言在價格、自由現金流（FCF）和盈利增長潛力方面折價的股票。它們將表明，儘管市場正在降低它們的價值，但公司仍有能力強勢迴歸。</p>
<p>我所做的是尋找那些交易價格低於 <strong>標普 500 指數</strong> 市盈率 29 倍的股票。但它們也應該具有低的自由現金流倍數。這意味着支付完賬單後，公司仍有資金可投資回業務。我還希望它們具有高盈利增長潛力。這應該指向具有良好擴張機會的公司。</p>
<p>請注意，你可能最終會看一些醜陋的股價走勢圖。這些被低估的價值股看起來可能像是與邁克·泰森在他巔峯時期打了一兩輪。但不要被嚇倒。捂住鼻子，深入挖掘下面這三隻大幅折價的股票。</p>
<h2>Target（TGT）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?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://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>來源：Robert Gregory Griffeth / Shutterstock.com</p>
<p>折扣零售商 <strong>Target</strong>（紐約證券交易所：<strong>TGT</strong>）是美國第六大零售商。不處於領先地位意味着位於其上方的公司施加了相當大的競爭壓力。在從十年前的失誤中反彈後，這家大眾市場零售商重新投資於其業務，打造了一個高效的運營，與消費者產生共鳴。特別是在疫情期間凸顯出來的數字化舉措，Target 證明了它能夠與 <strong>沃爾瑪</strong>（紐約證券交易所：<strong>WMT</strong>）和 <strong>亞馬遜</strong>（納斯達克證券交易所：<strong>AMZN</strong>）一較高下。</p>
<p>然而，它最大的缺點是需要不斷推動成本效率，無論是在其門店、履行還是供應鏈方面。由於在規模、價格或產品差異化方面並不突出，Target 必須不斷改善其成本結構。幸運的是，這家零售商是一個賺錢的機器。</p>
<p>Target 去年產生了 38 億美元的自由現金流，並在過去 12 個月內將自由現金流增長到 46 億美元。TGT 股票以自由現金流的 14 倍交易，盈利的倍數為 16 倍。該股票在 2024 年持平，但隨着華爾街預計該零售商每年增長 18% 的盈利，該零售商有望實現增長並享受多重擴張。Target 股票是一隻被低估的價值股，應該在你的購買清單上。</p>
<h2>Nextracker（NXT）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?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://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>來源：Shutterstock</p>
<p>從電子製造專家 <strong>Flex</strong>（納斯達克證券交易所：<strong>FLEX</strong>）於 2023 年分拆出來，<strong>Nextracker</strong>（納斯達克證券交易所：<strong>NXT</strong>）在與泰森的比賽中表現還不錯。自分拆以來，股價上漲了 65%，但今年僅上漲了 9.3%。由於仍然以一些便宜的估值交易，考慮購買這隻被低估的價值股是值得的。</p>
<p>Nextracker 是全球最大的基於在美國和全球發貨的千兆瓦（GW）智能跟蹤系統製造商。太陽能電池板在跟隨太陽在天空中的路徑時比固定板產生 25% 至 35% 更多的能量。Nextracker 為公用事業規模提供這些太陽能跟蹤器。</p>
<p>與住宅太陽能系統不同，公用事業規模項目不會受到高利率的同樣影響，儘管它們並非免疫。然而，這就是為什麼財政第四季度收入比去年增長了 42%，利潤從每股 2 美分激增至每股 1.51 美元。</p>
<p>儘管表現強勁，Nextracker 股票仍然被低估。它的市盈率為 15 倍，自由現金流倍數為 16 倍。然而，分析師預計未來五年太陽能跟蹤器股票的盈利將以驚人的 40% 的年均增長率擴張，這是一隻今天值得購買的被低估的價值股。</p>
<h2>Brinker International（EAT）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?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://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>來源：James R. Martin/ShutterStock.com</p>
<p>表面上，<strong>Brinker International</strong>（紐約證券交易所：<strong>EAT</strong>）似乎不符合被低估的價值股模式。股價今年以來上漲了 51%，過去一年上漲了 71%。這些是增長股的數字，而且增長得非常快，因為 Brinker 是一家擁有 Chili's 和 Maggiano's Little Italy 的餐廳連鎖店。</p>
<p>然而，它仍然為投資者提供了顯著的價值。這是一個表現超過估值的公司的例子，這對投資者是個好兆頭。現在購買讓您享受即將到來的多重擴張。</p>
<p>Brinker International 受益於人們對墨西哥食物的熱愛。其 Chili's 連鎖店是這家餐飲企業的搖錢樹，因為其德克薩斯墨西哥風味不僅俘獲了食客的胃口，還俘獲了他們的錢包。品牌的財政第三季度銷售額增長了 3.8%，達到 9.88 億美元，佔總收入的 89%。</p>
<p>這是通過 Brinker 提供菜單創新和價值的組合實現的。這導致這家餐飲運營商的銷售和客流量增長超過了行業。</p>
<p>雖然以 19 倍盈利交易，但它的股價僅為銷售額的一小部分，低於其長期盈利增長率 20% 以下。它的自由現金流價格比為 19，但作為一個快速增長的連鎖店，Brinker International 仍然為投資者提供了巨大的價值，是一隻被低估的價值股。</p>
<p><em>在本文發佈日期，Rich Duprey 沒有持有（直接或間接）本文提到的證券中的任何頭寸。本文中表達的觀點屬於作者本人，遵守 InvestorPlace.com 的發佈準則。</em></p>
<p><em>在發佈日期，負責編輯在本文提及的證券中沒有（直接或間接）持有任何頭寸。</em></p>
<p>Rich Duprey 已經寫了 20 年關於股票和投資的文章。他的文章曾出現在 Nasdaq.com、The Motley Fool 和 Yahoo! Finance 上，並且被美國和國際出版物引用，包括 MarketWatch、Financial Times、Forbes、Fast Company、USA Today、Milwaukee Journal Sentinel、Cheddar News、The Boston Globe、L’Express 等眾多新聞媒體。</p>
<p>成長股，低估股</p>

塔吉特

<p>2024 年 7 月值得考慮的三隻被低估的價值股包括塔吉特（TGT）、NEXTracker（NXT）和 Brinker International（EAT）。塔吉特是一家折扣零售商，具有強勁的現金流和盈利增長潛力。NEXTracker 是一家領先的太陽能跟蹤系統製造商，具有高增長潛力。Brinker International 是一家被低估的值得考慮的價值股</p>

<p>There are no hard and fast rules for what constitutes a value stock. It’s more about the <em>feelz</em>. Well, it is a little bit more than that. You can feel however you want about a company to say it is an undervalued value stock. But if the fundamentals of a business don’t match up, then you’re not investing. You’re gambling. You may as well throw darts at a dartboard.</p>
<div class="lb-trans"><p>什麼構成價值股並沒有硬性規定。更多的是關於感覺。嗯，其實不僅僅是這樣。你可以對一家公司有任何感覺，説它是被低估的價值股。但如果一家企業的基本面不匹配，那麼你不是在投資，而是在賭博。你不如去飛鏢靶子上扔飛鏢。</p>
</div><p>There is a better way, though. Look for stocks that are discounted relative to the market in terms of price, free cash flow (FCF) and earnings growth potential. They will indicate that, although the market is downgrading their value, the company still has the wherewithal to come back strong.</p>
<div class="lb-trans"><p>然而，有更好的方法。尋找相對於市場而言在價格、自由現金流（FCF）和盈利增長潛力方面折價的股票。它們將表明，儘管市場正在降低它們的價值，但公司仍有能力強勢迴歸。</p>
</div><p>What I’ve done is look for stocks that are trading at below that of the <strong>S&amp;P 500’s</strong> price-to-earnings ratio of 29. But they should also have low FCF multiples. That means after paying their bills, the companies still have money available to invest back into the business. I also want them to have high earnings growth potential. This should point to companies with good expansion opportunities.</p>
<div class="lb-trans"><p>我所做的是尋找那些交易價格低於 <strong>標普 500 指數</strong> 市盈率 29 倍的股票。但它們也應該具有低的自由現金流倍數。這意味着支付完賬單後，公司仍有資金可投資回業務。我還希望它們具有高盈利增長潛力。這應該指向具有良好擴張機會的公司。</p>
</div><p>Mind you, you may likely end up looking at some ugly stock price charts. These undervalued value stocks could look like they’ve gone a round or two with Mike Tyson in his prime. But don’t be scared off. Hold your nose and dive into the three deeply discounted stocks below.</p>
<div class="lb-trans"><p>請注意，你可能最終會看一些醜陋的股價走勢圖。這些被低估的價值股看起來可能像是與邁克·泰森在他巔峯時期打了一兩輪。但不要被嚇倒。捂住鼻子，深入挖掘下面這三隻大幅折價的股票。</p>
</div><h2>Target (TGT)</h2>
<div class="lb-trans"><h2>Target（TGT）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: Robert Gregory Griffeth / Shutterstock.com</p>
<div class="lb-trans"><p>來源：Robert Gregory Griffeth / Shutterstock.com</p>
</div><p>Discount retailer <strong>Target</strong> (NYSE:<strong>TGT</strong>) is the country’s sixth-largest retailer. Not being atop the heap means those above it apply considerable competitive pressure. After rebounding from missteps a decade ago, the mass merchandiser reinvested in its business to create an efficient operation that resonated with consumers. Especially its digital initiatives that came to the fore during the pandemic, Target proved it can go toe-to-toe with <strong>Walmart</strong> (NYSE:<strong>WMT</strong>) and <strong>Amazon</strong> (NASDAQ:<strong>AMZN</strong>).</p>
<div class="lb-trans"><p>折扣零售商 <strong>Target</strong>（紐約證券交易所：<strong>TGT</strong>）是美國第六大零售商。不處於領先地位意味着位於其上方的公司施加了相當大的競爭壓力。在從十年前的失誤中反彈後，這家大眾市場零售商重新投資於其業務，打造了一個高效的運營，與消費者產生共鳴。特別是在疫情期間凸顯出來的數字化舉措，Target 證明了它能夠與 <strong>沃爾瑪</strong>（紐約證券交易所：<strong>WMT</strong>）和 <strong>亞馬遜</strong>（納斯達克證券交易所：<strong>AMZN</strong>）一較高下。</p>
</div><p>Its biggest drawback, though, is needing to constantly drive cost efficiencies, whether it is in its stores, fulfillment or supply chain. Because it doesn’t stand out in terms of scale, price or product differentiation, Target must continuously improve its cost structure. Fortunately, the retailer is a cash-generating machine.</p>
<div class="lb-trans"><p>然而，它最大的缺點是需要不斷推動成本效率，無論是在其門店、履行還是供應鏈方面。由於在規模、價格或產品差異化方面並不突出，Target 必須不斷改善其成本結構。幸運的是，這家零售商是一個賺錢的機器。</p>
</div><p>Target produced $3.8 billion in FCF last year and has grown FCF to $4.6 billion over the trailing 12-month period. TGT stock trades at 14 times FCF and goes for 16 times earnings. The stock is flat in 2024, but with Wall Street expecting the retailer to grow earnings at 18% annually, the retailer is poised to grow and enjoy a multiple expansion. Target stock is an undervalued value stock that should be on your buy list.</p>
<div class="lb-trans"><p>Target 去年產生了 38 億美元的自由現金流，並在過去 12 個月內將自由現金流增長到 46 億美元。TGT 股票以自由現金流的 14 倍交易，盈利的倍數為 16 倍。該股票在 2024 年持平，但隨着華爾街預計該零售商每年增長 18% 的盈利，該零售商有望實現增長並享受多重擴張。Target 股票是一隻被低估的價值股，應該在你的購買清單上。</p>
</div><h2>Nextracker (NXT)</h2>
<div class="lb-trans"><h2>Nextracker（NXT）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: Shutterstock</p>
<div class="lb-trans"><p>來源：Shutterstock</p>
</div><p>Spun off from electronics manufacturing specialist <strong>Flex</strong> (NASDAQ:<strong>FLEX</strong>) in 2023, <strong>Nextracker</strong> (NASDAQ:<strong>NXT</strong>) hasn’t fared too badly in its bout with Tyson. The stock is up 65% since the separation but is only 9.3% higher this year. As it still trades for some cheap valuations, it is worth considering buying this undervalued value stock.</p>
<div class="lb-trans"><p>從電子製造專家 <strong>Flex</strong>（納斯達克證券交易所：<strong>FLEX</strong>）於 2023 年分拆出來，<strong>Nextracker</strong>（納斯達克證券交易所：<strong>NXT</strong>）在與泰森的比賽中表現還不錯。自分拆以來，股價上漲了 65%，但今年僅上漲了 9.3%。由於仍然以一些便宜的估值交易，考慮購買這隻被低估的價值股是值得的。</p>
</div><p>Nextracker is the world’s largest manufacturer of intelligent tracking systems based on gigawatts (GW) shipped in the U.S. and globally. Solar panels produce 25% to 35% more energy when they follow the sun’s path across the sky than stationary panels. Nextracker provides these solar trackers at utility-scale.</p>
<div class="lb-trans"><p>Nextracker 是全球最大的基於在美國和全球發貨的千兆瓦（GW）智能跟蹤系統製造商。太陽能電池板在跟隨太陽在天空中的路徑時比固定板產生 25% 至 35% 更多的能量。Nextracker 為公用事業規模提供這些太陽能跟蹤器。</p>
</div><p>Unlike residential solar systems, utility-scale projects aren’t affected the same by high interest rates, though they are not immune. Yet that is why fiscal fourth-quarter revenue surged 42% from last year and profits exploded from 2 cents per share to $1.51 per share.</p>
<div class="lb-trans"><p>與住宅太陽能系統不同，公用事業規模項目不會受到高利率的同樣影響，儘管它們並非免疫。然而，這就是為什麼財政第四季度收入比去年增長了 42%，利潤從每股 2 美分激增至每股 1.51 美元。</p>
</div><p>Despite the powerful performance, Nextracker stock remains undervalued. It trades at 15 times earnings and 16x FCF. Yet with analysts anticipating the solar tracker stock expanding earnings at a breathtaking 40% annually for the next five years, this is an undervalued value stock to buy today.</p>
<div class="lb-trans"><p>儘管表現強勁，Nextracker 股票仍然被低估。它的市盈率為 15 倍，自由現金流倍數為 16 倍。然而，分析師預計未來五年太陽能跟蹤器股票的盈利將以驚人的 40% 的年均增長率擴張，這是一隻今天值得購買的被低估的價值股。</p>
</div><h2>Brinker International (EAT)</h2>
<div class="lb-trans"><h2>Brinker International（EAT）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: James R. Martin/ShutterStock.com</p>
<div class="lb-trans"><p>來源：James R. Martin/ShutterStock.com</p>
</div><p>On the surface, <strong>Brinker International</strong> (NYSE:<strong>EAT</strong>) doesn’t seem to fit the undervalued value stock mold. Shares are up 51% year-to-date and are 71% higher over the past year. Those are growth stock numbers and wildly so, since Brinker is a restaurant chain that owns Chili’s and Maggiano’s Little Italy.</p>
<div class="lb-trans"><p>表面上，<strong>Brinker International</strong>（紐約證券交易所：<strong>EAT</strong>）似乎不符合被低估的價值股模式。股價今年以來上漲了 51%，過去一年上漲了 71%。這些是增長股的數字，而且增長得非常快，因為 Brinker 是一家擁有 Chili's 和 Maggiano's Little Italy 的餐廳連鎖店。</p>
</div><p>And yet it does offer investors significant value still. It is an example of a company whose performance has outpaced its valuation, and that bodes well for investors. Buying now lets you enjoy the multiple expansion to come.</p>
<div class="lb-trans"><p>然而，它仍然為投資者提供了顯著的價值。這是一個表現超過估值的公司的例子，這對投資者是個好兆頭。現在購買讓您享受即將到來的多重擴張。</p>
</div><p>Brinker International is benefiting from the love affair with Mexican food. Its Chili’s chain is the moneymaker for the restaurateur, as its Tex-Mex flavors are capturing diners wallets as well as their stomachs. Fiscal third-quarter sales for the brand rose 3.8% to $988 million, representing 89% of total revenue.</p>
<div class="lb-trans"><p>Brinker International 受益於人們對墨西哥食物的熱愛。其 Chili's 連鎖店是這家餐飲企業的搖錢樹，因為其德克薩斯墨西哥風味不僅俘獲了食客的胃口，還俘獲了他們的錢包。品牌的財政第三季度銷售額增長了 3.8%，達到 9.88 億美元，佔總收入的 89%。</p>
</div><p>That was achieved by Brinker offering a combination of menu innovation and value. It resulted in the restaurant operator growing sales and traffic ahead of the industry.</p>
<div class="lb-trans"><p>這是通過 Brinker 提供菜單創新和價值的組合實現的。這導致這家餐飲運營商的銷售和客流量增長超過了行業。</p>
</div><p>While trading at 19x earnings, it also goes for a small fraction of its sales and for less than its long-term earnings growth rate of 20%. It does trade at a slightly elevated price-to-free cash flow of 19, but as a fast-growing chain, Brinker International still offers investors great value and is an undervalued vale stock.</p>
<div class="lb-trans"><p>雖然以 19 倍盈利交易，但它的股價僅為銷售額的一小部分，低於其長期盈利增長率 20% 以下。它的自由現金流價格比為 19，但作為一個快速增長的連鎖店，Brinker International 仍然為投資者提供了巨大的價值，是一隻被低估的價值股。</p>
</div><p><em>On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.</em></p>
<div class="lb-trans"><p><em>在本文發佈日期，Rich Duprey 沒有持有（直接或間接）本文提到的證券中的任何頭寸。本文中表達的觀點屬於作者本人，遵守 InvestorPlace.com 的發佈準則。</em></p>
</div><p><em>On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.</em></p>
<div class="lb-trans"><p><em>在發佈日期，負責編輯在本文提及的證券中沒有（直接或間接）持有任何頭寸。</em></p>
</div><p>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L’Express, and numerous other news outlets.</p>
<div class="lb-trans"><p>Rich Duprey 已經寫了 20 年關於股票和投資的文章。他的文章曾出現在 Nasdaq.com、The Motley Fool 和 Yahoo! Finance 上，並且被美國和國際出版物引用，包括 MarketWatch、Financial Times、Forbes、Fast Company、USA Today、Milwaukee Journal Sentinel、Cheddar News、The Boston Globe、L’Express 等眾多新聞媒體。</p>
</div><p>Growth Stocks, Undervalued Stocks</p>
<div class="lb-trans"><p>成長股，低估股</p>
</div>

2024 年 7 月最值得購買的三隻被低估的價值股