<h3>關鍵洞察</h3>
<ul>
<li>SCSK 的估計公允價值為 3828 日元，基於兩階段自由現金流折現法</li>
<li>SCSK 的股價為 4351 日元，表明其交易水平與公允價值估計相似</li>
<li>我們的公允價值估計比 SCSK 分析師的價格目標（4543 日元）低 16%</li>
</ul>
<p>今天我們將簡單介紹一種估值方法，用於評估 SCSK Corporation (TSE:9719) 作為投資機會的吸引力，通過預測公司的未來現金流並將其折現回今天的價值。我們的分析將採用折現現金流（DCF）模型。不要被術語嚇到，背後的數學其實相當簡單。</p>
<p>我們要提醒的是，估值公司有很多方法，像 DCF 一樣，每種技術在某些情況下都有其優缺點。如果你對這種估值方法還有一些疑問，可以查看 Simply Wall St 的分析模型。</p>
<p>人工智能即將改變醫療保健。這 20 只股票正在從早期診斷到藥物發現等各個方面進行工作。最棒的是——它們的市值都在 100 億美元以下——現在仍然有機會提前佈局。</p>
<h2>計算</h2>
<p>我們將使用兩階段 DCF 模型，顧名思義，它考慮了兩個階段的增長。第一階段通常是一個較高的增長期，隨後趨於穩定，進入第二個 “穩定增長” 階段。首先，我們需要估計未來十年的現金流。在可能的情況下，我們使用分析師的估計，但當這些不可用時，我們會從上一個估計或報告值中推算出之前的自由現金流（FCF）。我們假設自由現金流減少的公司將減緩其縮減速度，而自由現金流增長的公司在此期間將看到其增長率放緩。我們這樣做是為了反映出早期的增長往往比後期放緩得更快。</p>
<p>通常我們假設今天的一美元比未來的一美元更有價值，因此這些未來現金流的總和將折現到今天的價值：</p>
<h4>10 年自由現金流（FCF）估計</h4>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>槓桿自由現金流（¥，百萬）</strong></td>
<td>642 億日元</td>
<td>717 億日元</td>
<td>780 億日元</td>
<td>771 億日元</td>
<td>839 億日元</td>
<td>867 億日元</td>
<td>889 億日元</td>
<td>905 億日元</td>
<td>918 億日元</td>
<td>929 億日元</td>
</tr>
<tr>
<td><strong>增長率估計來源</strong></td>
<td>分析師 x4</td>
<td>分析師 x4</td>
<td>分析師 x4</td>
<td>分析師 x1</td>
<td>分析師 x1</td>
<td>估計 @3.36%</td>
<td>估計 @2.49%</td>
<td>估計 @1.87%</td>
<td>估計 @1.45%</td>
<td>估計 @1.15%</td>
</tr>
<tr>
<td><strong>現值（¥，百萬）折現 @7.5%</strong></td>
<td>597 億日元</td>
<td>620 億日元</td>
<td>628 億日元</td>
<td>577 億日元</td>
<td>584 億日元</td>
<td>562 億日元</td>
<td>536 億日元</td>
<td>508 億日元</td>
<td>479 億日元</td>
<td>451 億日元</td>
</tr>
</tbody>
</table>
<p><em>(&#34;Est&#34; = FCF 增長率由 Simply Wall St 估計)</em></p>
<p><strong>10 年現金流現值（PVCF）</strong> = 5540 億日元</p>
<p>第二階段也稱為終值，這是業務在第一階段後的現金流。使用戈登增長公式計算終值，未來年增長率等於 10 年期政府債券收益率的 5 年平均值 0.4%。我們以 7.5% 的股本成本將終端現金流折現到今天的價值。</p>
<p><strong>終值（TV）</strong> = FCF2035 × (1 + g) ÷ (r – g) = 930 億日元× (1 + 0.4%) ÷ (7.5%– 0.4%) = 1.3 萬億日元</p>
<p><strong>終值現值（PVTV）</strong> = TV / (1 + r) 10= 1.3 萬億日元÷ ( 1 + 7.5%) 10= 6420 億日元</p>
<p>總價值是未來十年的現金流總和加上折現的終值，得出總股本價值，在這種情況下為 1.2 萬億日元。在最後一步中，我們將股本價值除以流通股數。相對於當前股價 4400 日元，該公司在撰寫時似乎接近公允價值。任何計算中的假設對估值有很大影響，因此最好將其視為粗略估計，而不是精確到最後一分錢。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/881041-dcf-1-dark-2/1753846130099?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/881041-dcf-1-dark-2/1753846130099"/></p>
<p>TSE:9719 折現現金流 2025 年 7 月 30 日</p>
<h2>重要假設</h2>
<p>我們要指出，折現現金流中最重要的輸入是折現率和實際現金流。你不必同意這些輸入，我建議你自己重新計算並進行調整。DCF 也沒有考慮行業的週期性或公司的未來資本需求，因此無法全面反映公司的潛在表現。鑑於我們將 SCSK 視為潛在股東，折現率使用股本成本，而不是資本成本（或加權平均資本成本，WACC），後者考慮了債務。在此計算中，我們使用了 7.5%，這是基於 1.338 的槓桿貝塔。貝塔是衡量股票相對於整個市場波動性的指標。我們從全球可比公司的行業平均貝塔中獲得我們的貝塔，並設定在 0.8 到 2.0 之間，這是一個適合穩定企業的合理範圍。</p>
<p>查看我們對 SCSK 的最新分析</p>
<h3>SCSK 的 SWOT 分析</h3>
<p><strong>優勢</strong></p>
<ul>
<li>過去一年的盈利增長超過了其 5 年平均水平。</li>
</ul>
<ul>
<li>債務由盈利和現金流良好覆蓋。</li>
</ul>
<ul>
<li>股息由盈利和現金流覆蓋。</li>
</ul>
<p>9719 的股息信息。</p>
<p><strong>劣勢</strong></p>
<ul>
<li>過去一年的盈利增長低於 IT 行業。</li>
</ul>
<ul>
<li>與 IT 市場前 25% 的股息支付者相比，股息較低。</li>
</ul>
<p><strong>機會</strong></p>
<ul>
<li>年度盈利預計將比日本市場增長更快。</li>
</ul>
<ul>
<li>基於市盈率的估值相對公允市盈率而言具有良好價值。</li>
</ul>
<p><strong>威脅</strong></p>
<ul>
<li>收入預計每年增長低於 20%。</li>
</ul>
<p>分析師對 9719 還有什麼其他預測？</p>
<h2>展望未來：</h2>
<p>估值只是構建投資論點的一個方面，它只是你需要評估公司的眾多因素之一。使用折現現金流（DCF）模型無法獲得萬無一失的估值。最好是應用不同的情景和假設，看看它們如何影響公司的估值。例如，如果終值增長率稍作調整，整體結果可能會發生顯著變化。對於 SCSK，還有三個進一步的事項你應該探索：</p>
<ol>
<li><strong>風險</strong>：例如，我們已經識別出 <strong>SCSK 的一個警示信號</strong>，你應該注意。</li>
<li><strong>未來收益</strong>：9719 的增長率與其同行和更廣泛市場相比如何？通過與我們的免費分析師增長預期圖表互動，深入挖掘未來幾年的分析師共識數字。</li>
<li><strong>其他高質量替代品</strong>：你喜歡全能型股票嗎？探索我們互動式的高質量股票列表，瞭解你可能錯過的其他投資機會！</li>
</ol>
<p>PS. Simply Wall St 每天都會更新每隻日本股票的 DCF 計算，因此如果你想找到其他股票的內在價值，只需在這裏搜索。</p>

9719

<p>SCSK Corporation（東京證券交易所代碼：9719）的估計公允價值為 3,828 日元，目前股價為 4,351 日元，表明其交易接近公允價值。該估計比分析師的目標價 4,543 日元低 16%。該估值是使用兩階段折現現金流（DCF）模型進行的，該模型考慮了未來現金流並將其折現為現值。計算出的總股權價值為 1.2 萬億日元，表明該公司目前大致處於公允價值</p>

<h3>Key Insights</h3>
<div class="lb-trans"><h3>關鍵洞察</h3>
</div><ul>
<li>SCSK's estimated fair value is JP¥3,828 based on 2 Stage Free Cash Flow to Equity</li>
<li>SCSK's JP¥4,351 share price indicates it is trading at similar levels as its fair value estimate</li>
<li>Our fair value estimate is 16% lower than SCSK's analyst price target of JP¥4,543</li>
</ul>
<div class="lb-trans"><ul>
<li>SCSK 的估計公允價值為 3828 日元，基於兩階段自由現金流折現法</li>
<li>SCSK 的股價為 4351 日元，表明其交易水平與公允價值估計相似</li>
<li>我們的公允價值估計比 SCSK 分析師的價格目標（4543 日元）低 16%</li>
</ul>
</div><p>Today we'll do a simple run through of a valuation method used to estimate the attractiveness of SCSK Corporation (TSE:9719) as an investment opportunity by taking the forecast future cash flows of the company and discounting them back to today's value. Our analysis will employ the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward.</p>
<div class="lb-trans"><p>今天我們將簡單介紹一種估值方法，用於評估 SCSK Corporation (TSE:9719) 作為投資機會的吸引力，通過預測公司的未來現金流並將其折現回今天的價值。我們的分析將採用折現現金流（DCF）模型。不要被術語嚇到，背後的數學其實相當簡單。</p>
</div><p>We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model.</p>
<div class="lb-trans"><p>我們要提醒的是，估值公司有很多方法，像 DCF 一樣，每種技術在某些情況下都有其優缺點。如果你對這種估值方法還有一些疑問，可以查看 Simply Wall St 的分析模型。</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>人工智能即將改變醫療保健。這 20 只股票正在從早期診斷到藥物發現等各個方面進行工作。最棒的是——它們的市值都在 100 億美元以下——現在仍然有機會提前佈局。</p>
</div><h2>The Calculation</h2>
<div class="lb-trans"><h2>計算</h2>
</div><p>We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.</p>
<div class="lb-trans"><p>我們將使用兩階段 DCF 模型，顧名思義，它考慮了兩個階段的增長。第一階段通常是一個較高的增長期，隨後趨於穩定，進入第二個 “穩定增長” 階段。首先，我們需要估計未來十年的現金流。在可能的情況下，我們使用分析師的估計，但當這些不可用時，我們會從上一個估計或報告值中推算出之前的自由現金流（FCF）。我們假設自由現金流減少的公司將減緩其縮減速度，而自由現金流增長的公司在此期間將看到其增長率放緩。我們這樣做是為了反映出早期的增長往往比後期放緩得更快。</p>
</div><p>Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value:</p>
<div class="lb-trans"><p>通常我們假設今天的一美元比未來的一美元更有價值，因此這些未來現金流的總和將折現到今天的價值：</p>
</div><h4>10-year free cash flow (FCF) estimate</h4>
<div class="lb-trans"><h4>10 年自由現金流（FCF）估計</h4>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>Levered FCF (¥, Millions)</strong></td>
<td>JP¥64.2b</td>
<td>JP¥71.7b</td>
<td>JP¥78.0b</td>
<td>JP¥77.1b</td>
<td>JP¥83.9b</td>
<td>JP¥86.7b</td>
<td>JP¥88.9b</td>
<td>JP¥90.5b</td>
<td>JP¥91.8b</td>
<td>JP¥92.9b</td>
</tr>
<tr>
<td><strong>Growth Rate Estimate Source</strong></td>
<td>Analyst x4</td>
<td>Analyst x4</td>
<td>Analyst x4</td>
<td>Analyst x1</td>
<td>Analyst x1</td>
<td>Est @ 3.36%</td>
<td>Est @ 2.49%</td>
<td>Est @ 1.87%</td>
<td>Est @ 1.45%</td>
<td>Est @ 1.15%</td>
</tr>
<tr>
<td><strong>Present Value (¥, Millions) Discounted @ 7.5%</strong></td>
<td>JP¥59.7k</td>
<td>JP¥62.0k</td>
<td>JP¥62.8k</td>
<td>JP¥57.7k</td>
<td>JP¥58.4k</td>
<td>JP¥56.2k</td>
<td>JP¥53.6k</td>
<td>JP¥50.8k</td>
<td>JP¥47.9k</td>
<td>JP¥45.1k</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>槓桿自由現金流（¥，百萬）</strong></td>
<td>642 億日元</td>
<td>717 億日元</td>
<td>780 億日元</td>
<td>771 億日元</td>
<td>839 億日元</td>
<td>867 億日元</td>
<td>889 億日元</td>
<td>905 億日元</td>
<td>918 億日元</td>
<td>929 億日元</td>
</tr>
<tr>
<td><strong>增長率估計來源</strong></td>
<td>分析師 x4</td>
<td>分析師 x4</td>
<td>分析師 x4</td>
<td>分析師 x1</td>
<td>分析師 x1</td>
<td>估計 @3.36%</td>
<td>估計 @2.49%</td>
<td>估計 @1.87%</td>
<td>估計 @1.45%</td>
<td>估計 @1.15%</td>
</tr>
<tr>
<td><strong>現值（¥，百萬）折現 @7.5%</strong></td>
<td>597 億日元</td>
<td>620 億日元</td>
<td>628 億日元</td>
<td>577 億日元</td>
<td>584 億日元</td>
<td>562 億日元</td>
<td>536 億日元</td>
<td>508 億日元</td>
<td>479 億日元</td>
<td>451 億日元</td>
</tr>
</tbody>
</table>
</div><p><em>(&#34;Est&#34; = FCF growth rate estimated by Simply Wall St)</em></p>
<div class="lb-trans"><p><em>(&#34;Est&#34; = FCF 增長率由 Simply Wall St 估計)</em></p>
</div><p><strong>Present Value of 10-year Cash Flow (PVCF)</strong> = JP¥554b</p>
<div class="lb-trans"><p><strong>10 年現金流現值（PVCF）</strong> = 5540 億日元</p>
</div><p>The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 0.4%. We discount the terminal cash flows to today's value at a cost of equity of 7.5%.</p>
<div class="lb-trans"><p>第二階段也稱為終值，這是業務在第一階段後的現金流。使用戈登增長公式計算終值，未來年增長率等於 10 年期政府債券收益率的 5 年平均值 0.4%。我們以 7.5% 的股本成本將終端現金流折現到今天的價值。</p>
</div><p><strong>Terminal Value (TV)</strong> = FCF2035 × (1 + g) ÷ (r – g) = JP¥93b× (1 + 0.4%) ÷ (7.5%– 0.4%) = JP¥1.3t</p>
<div class="lb-trans"><p><strong>終值（TV）</strong> = FCF2035 × (1 + g) ÷ (r – g) = 930 億日元× (1 + 0.4%) ÷ (7.5%– 0.4%) = 1.3 萬億日元</p>
</div><p><strong>Present Value of Terminal Value (PVTV)</strong> = TV / (1 + r) 10= JP¥1.3t÷ ( 1 + 7.5%) 10= JP¥642b</p>
<div class="lb-trans"><p><strong>終值現值（PVTV）</strong> = TV / (1 + r) 10= 1.3 萬億日元÷ ( 1 + 7.5%) 10= 6420 億日元</p>
</div><p>The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is JP¥1.2t. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of JP¥4.4k, the company appears around fair value at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.</p>
<div class="lb-trans"><p>總價值是未來十年的現金流總和加上折現的終值，得出總股本價值，在這種情況下為 1.2 萬億日元。在最後一步中，我們將股本價值除以流通股數。相對於當前股價 4400 日元，該公司在撰寫時似乎接近公允價值。任何計算中的假設對估值有很大影響，因此最好將其視為粗略估計，而不是精確到最後一分錢。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/881041-dcf-1-dark-2/1753846130099" alt="" original-src="https://images.simplywall.st/asset/chart/881041-dcf-1-dark-2/1753846130099"/></p>
<p>TSE:9719 Discounted Cash Flow July 30th 2025</p>
<div class="lb-trans"><p>TSE:9719 折現現金流 2025 年 7 月 30 日</p>
</div><h2>Important Assumptions</h2>
<div class="lb-trans"><h2>重要假設</h2>
</div><p>We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at SCSK as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.5%, which is based on a levered beta of 1.338. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.</p>
<div class="lb-trans"><p>我們要指出，折現現金流中最重要的輸入是折現率和實際現金流。你不必同意這些輸入，我建議你自己重新計算並進行調整。DCF 也沒有考慮行業的週期性或公司的未來資本需求，因此無法全面反映公司的潛在表現。鑑於我們將 SCSK 視為潛在股東，折現率使用股本成本，而不是資本成本（或加權平均資本成本，WACC），後者考慮了債務。在此計算中，我們使用了 7.5%，這是基於 1.338 的槓桿貝塔。貝塔是衡量股票相對於整個市場波動性的指標。我們從全球可比公司的行業平均貝塔中獲得我們的貝塔，並設定在 0.8 到 2.0 之間，這是一個適合穩定企業的合理範圍。</p>
</div><p>Check out our latest analysis for SCSK</p>
<div class="lb-trans"><p>查看我們對 SCSK 的最新分析</p>
</div><h3>SWOT Analysis for SCSK</h3>
<div class="lb-trans"><h3>SCSK 的 SWOT 分析</h3>
</div><p><strong>Strength</strong></p>
<div class="lb-trans"><p><strong>優勢</strong></p>
</div><ul>
<li>Earnings growth over the past year exceeded its 5-year average.</li>
</ul>
<div class="lb-trans"><ul>
<li>過去一年的盈利增長超過了其 5 年平均水平。</li>
</ul>
</div><ul>
<li>Debt is well covered by earnings and cashflows.</li>
</ul>
<div class="lb-trans"><ul>
<li>債務由盈利和現金流良好覆蓋。</li>
</ul>
</div><ul>
<li>Dividends are covered by earnings and cash flows.</li>
</ul>
<div class="lb-trans"><ul>
<li>股息由盈利和現金流覆蓋。</li>
</ul>
</div><p>Dividend information for 9719.</p>
<div class="lb-trans"><p>9719 的股息信息。</p>
</div><p><strong>Weakness</strong></p>
<div class="lb-trans"><p><strong>劣勢</strong></p>
</div><ul>
<li>Earnings growth over the past year underperformed the IT industry.</li>
</ul>
<div class="lb-trans"><ul>
<li>過去一年的盈利增長低於 IT 行業。</li>
</ul>
</div><ul>
<li>Dividend is low compared to the top 25% of dividend payers in the IT market.</li>
</ul>
<div class="lb-trans"><ul>
<li>與 IT 市場前 25% 的股息支付者相比，股息較低。</li>
</ul>
</div><p><strong>Opportunity</strong></p>
<div class="lb-trans"><p><strong>機會</strong></p>
</div><ul>
<li>Annual earnings are forecast to grow faster than the Japanese market.</li>
</ul>
<div class="lb-trans"><ul>
<li>年度盈利預計將比日本市場增長更快。</li>
</ul>
</div><ul>
<li>Good value based on P/E ratio compared to estimated Fair P/E ratio.</li>
</ul>
<div class="lb-trans"><ul>
<li>基於市盈率的估值相對公允市盈率而言具有良好價值。</li>
</ul>
</div><p><strong>Threat</strong></p>
<div class="lb-trans"><p><strong>威脅</strong></p>
</div><ul>
<li>Revenue is forecast to grow slower than 20% per year.</li>
</ul>
<div class="lb-trans"><ul>
<li>收入預計每年增長低於 20%。</li>
</ul>
</div><p>What else are analysts forecasting for 9719?</p>
<div class="lb-trans"><p>分析師對 9719 還有什麼其他預測？</p>
</div><h2>Looking Ahead:</h2>
<div class="lb-trans"><h2>展望未來：</h2>
</div><p>Valuation is only one side of the coin in terms of building your investment thesis, and it is only one of many factors that you need to assess for a company. It's not possible to obtain a foolproof valuation with a DCF model. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For SCSK, there are three further items you should explore:</p>
<div class="lb-trans"><p>估值只是構建投資論點的一個方面，它只是你需要評估公司的眾多因素之一。使用折現現金流（DCF）模型無法獲得萬無一失的估值。最好是應用不同的情景和假設，看看它們如何影響公司的估值。例如，如果終值增長率稍作調整，整體結果可能會發生顯著變化。對於 SCSK，還有三個進一步的事項你應該探索：</p>
</div><ol>
<li><strong>Risks</strong>: For instance, we've identified <strong>1 warning sign for SCSK</strong> that you should be aware of.</li>
<li><strong>Future Earnings</strong>: How does 9719's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.</li>
<li><strong>Other High Quality Alternatives</strong>: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!</li>
</ol>
<div class="lb-trans"><ol>
<li><strong>風險</strong>：例如，我們已經識別出 <strong>SCSK 的一個警示信號</strong>，你應該注意。</li>
<li><strong>未來收益</strong>：9719 的增長率與其同行和更廣泛市場相比如何？通過與我們的免費分析師增長預期圖表互動，深入挖掘未來幾年的分析師共識數字。</li>
<li><strong>其他高質量替代品</strong>：你喜歡全能型股票嗎？探索我們互動式的高質量股票列表，瞭解你可能錯過的其他投資機會！</li>
</ol>
</div><p>PS. Simply Wall St updates its DCF calculation for every Japanese stock every day, so if you want to find the intrinsic value of any other stock just search here.</p>
<div class="lb-trans"><p>PS. Simply Wall St 每天都會更新每隻日本股票的 DCF 計算，因此如果你想找到其他股票的內在價值，只需在這裏搜索。</p>
</div>

估算 SCSK 公司（TSE:9719）的合理價值