<p>三一重工國際控股（SEHK:631）發佈了第三季度財報。報告顯示銷售額和淨收入同比增長，突顯了公司持續的業務勢頭和運營進展。</p>
<p>查看我們對三一重工國際控股的最新分析。</p>
<p>在強勁的財報發佈後，三一重工國際控股的 2024 年股價上漲了 66.4%，這表明市場對其前景的信心正在增強。值得注意的是，過去一年公司為股東帶來了 53.8% 的總回報，五年總回報超過 100%。這表明勢頭已經積累了一段時間。</p>
<p>如果如此令人印象深刻的收益讓你想知道還有什麼股票在上漲，現在正是發現高內部持股的快速成長股票的最佳時機。</p>
<p>在如此強勁的業績和上漲的股價下，三一重工國際控股是否仍然以有吸引力的估值交易，還是市場已經考慮了公司的未來增長潛力？</p>
<h2>15.4 倍的市盈率：是否合理？</h2>
<p>三一重工國際控股目前的市盈率（P/E）為 15.4 倍，儘管最近股價上漲，但仍高於同行業平均水平和行業基準。這一高於同行的估值意味着投資者為每一美元的收益支付了溢價，這引發了一個問題：業務基本面是否值得如此定價。</p>
<p>市盈率是一個廣泛使用的指標，用於比較公司的股價與每股收益，提供市場願意為未來盈利支付多少的洞察。在資本品行業，增長率和利潤穩定性差異很大，這一指標被密切關注，以評估投資者的預期。較高的市盈率通常表明對未來強勁收益的信心，但也使買家面臨如果這些預期未能實現而導致的溢價風險。</p>
<p>與香港機械行業的同行相比，其平均市盈率為 12.8 倍，三一重工國際控股顯得相對昂貴。然而，目前的市盈率實際上低於其估計的合理市盈率 16.2 倍。這表明市場可能正在向更高的合理水平移動，因為盈利能力和增長預測依然強勁。</p>
<p>探索三一重工國際控股的 SWS 合理比率</p>
<p><strong>結果：15.4 倍的市盈率（被高估）</strong></p>
<p>然而，收入增長放緩或突發的利潤壓力可能迅速挑戰當前對三一重工國際控股估值和勢頭的樂觀預期。</p>
<p>瞭解三一重工國際控股敍述中的關鍵風險。</p>
<h2>另一種觀點：市場是否忽視了隱藏的價值？</h2>
<p>雖然基於傳統收益倍數股價看起來昂貴，但我們的 SWS DCF 模型表明，三一重工國際控股的交易價格實際上低於其估計的合理價值 52.7%。該模型指向潛在的低估，並提出了一個問題：市場是否忽視了未來的增長？</p>
<p>瞭解 SWS DCF 模型如何得出其合理價值。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/153f43e7-edcd-4fd9-9d31-b01f57e84742/chart/dcf?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/company/153f43e7-edcd-4fd9-9d31-b01f57e84742/chart/dcf"/></p>
<p>截至 2025 年 11 月的 631 折現現金流</p>
<p>Simply Wall St 每天對全球每隻股票進行折現現金流（DCF）分析（例如查看三一重工國際控股）。我們展示了完整的計算過程。您可以在您的觀察列表或投資組合中跟蹤結果，並在變化時收到提醒，或者使用我們的股票篩選器發現 861 只基於現金流的被低估股票。如果您保存篩選器，我們甚至會在新公司匹配時提醒您——這樣您就不會錯過潛在機會。</p>
<h2>構建您自己的三一重工國際控股敍述</h2>
<p>如果您有自己的觀點或想深入挖掘數據，您可以在幾分鐘內為三一重工國際控股塑造自己的故事，按照您的方式進行。</p>
<p>一個好的起點是我們的分析，強調投資者對三一重工國際控股的 2 個關鍵回報的樂觀預期。</p>
<h2>尋找更多投資想法？</h2>
<p>聰明的投資者從不滿足於一個機會。通過使用這些獨特的篩選器，提前發現具有隱藏潛力的股票，保持領先地位：</p>
<ul>
<li>通過查看這 25 只人工智能便士股，抓住明天的突破。這些公司正在人工智能領域掀起波瀾，塑造技術如何驅動現實世界的價值。</li>
<li>通過訪問這些 17 只收益率超過 3% 的股息股票，鎖定強大的收入來源。該列表包含具有吸引力的股息收益率和穩健基本面的公司。</li>
<li>研究這些 861 只基於現金流的被低估股票，利用市場低效的勢頭。該篩選器突出了價格低於其真實價值的股票，以實現價值導向的收益。</li>
</ul>
<p><em>本文由 Simply Wall St 撰寫，內容具有一般性。<strong>我們提供基於歷史數據和分析師預測的評論，僅使用無偏見的方法，我們的文章不應被視為財務建議。</strong> 它不構成購買或出售任何股票的推薦，也未考慮您的目標或財務狀況。我們的目標是為您提供以基本數據驅動的長期分析。請注意，我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中沒有持倉。</em></p>

三一重工

<p>三一重工國際控股（SEHK:631）報告了強勁的第三季度業績，銷售額和淨收入同比增長，導致 2024 年股價上漲 66.4%。儘管市盈率為 15.4 倍，高於行業同行，但一些分析認為根據貼現現金流模型，它可能被低估了 52.7%。投資者被提醒注意可能影響未來增長和估值的潛在風險。該公司在過去一年中為股東帶來了 53.8% 的總回報，顯示出持續的增長勢頭</p>

<p>Sany Heavy Equipment International Holdings (SEHK:631) released its third quarter earnings. The report showed year-over-year growth in both sales and net income, which highlights the company's ongoing business momentum and operational progress.</p>
<div class="lb-trans"><p>三一重工國際控股（SEHK:631）發佈了第三季度財報。報告顯示銷售額和淨收入同比增長，突顯了公司持續的業務勢頭和運營進展。</p>
</div><p>See our latest analysis for Sany Heavy Equipment International Holdings.</p>
<div class="lb-trans"><p>查看我們對三一重工國際控股的最新分析。</p>
</div><p>Fresh off those strong earnings, Sany Heavy Equipment International Holdings has seen its 2024 share price jump 66.4%, signaling growing confidence in its prospects. Notably, the company has delivered a total shareholder return of 53.8% over the past year, with five-year total returns topping 100%. This indicates that momentum has been building for some time.</p>
<div class="lb-trans"><p>在強勁的財報發佈後，三一重工國際控股的 2024 年股價上漲了 66.4%，這表明市場對其前景的信心正在增強。值得注意的是，過去一年公司為股東帶來了 53.8% 的總回報，五年總回報超過 100%。這表明勢頭已經積累了一段時間。</p>
</div><p>If impressive gains like these have you wondering what else is on the move, this is a perfect time to discover fast growing stocks with high insider ownership.</p>
<div class="lb-trans"><p>如果如此令人印象深刻的收益讓你想知道還有什麼股票在上漲，現在正是發現高內部持股的快速成長股票的最佳時機。</p>
</div><p>With such strong results and a rising share price, is Sany Heavy Equipment International Holdings still trading at an attractive valuation, or has the market already factored in the company’s future growth potential?</p>
<div class="lb-trans"><p>在如此強勁的業績和上漲的股價下，三一重工國際控股是否仍然以有吸引力的估值交易，還是市場已經考慮了公司的未來增長潛力？</p>
</div><h2>Price-to-Earnings of 15.4x: Is it justified?</h2>
<div class="lb-trans"><h2>15.4 倍的市盈率：是否合理？</h2>
</div><p>Sany Heavy Equipment International Holdings is currently trading at a price-to-earnings (P/E) ratio of 15.4x, which is above both the peer group average and its industry benchmark, despite recent share price gains. This higher-than-peer valuation means investors are paying a premium relative to similar stocks for each dollar of earnings, raising the question of whether the business fundamentals warrant such pricing.</p>
<div class="lb-trans"><p>三一重工國際控股目前的市盈率（P/E）為 15.4 倍，儘管最近股價上漲，但仍高於同行業平均水平和行業基準。這一高於同行的估值意味着投資者為每一美元的收益支付了溢價，這引發了一個問題：業務基本面是否值得如此定價。</p>
</div><p>The P/E ratio is a widely used measure that compares a company’s share price to its earnings per share, providing insight into how much the market is willing to pay for future profitability. In the capital goods sector, where growth rates and profit stability vary widely, this metric is watched closely to gauge investor expectations. A higher P/E can often signal belief in robust forthcoming earnings, but also exposes buyers to the risk of overpaying if those expectations do not materialize.</p>
<div class="lb-trans"><p>市盈率是一個廣泛使用的指標，用於比較公司的股價與每股收益，提供市場願意為未來盈利支付多少的洞察。在資本品行業，增長率和利潤穩定性差異很大，這一指標被密切關注，以評估投資者的預期。較高的市盈率通常表明對未來強勁收益的信心，但也使買家面臨如果這些預期未能實現而導致的溢價風險。</p>
</div><p>Compared to peers in the Hong Kong Machinery industry, which have an average P/E of 12.8x, Sany Heavy Equipment International Holdings appears comparatively expensive. However, the current P/E is actually below its estimated fair P/E ratio of 16.2x. This indicates the market could be moving towards a higher justified level as profitability and growth forecasts remain strong.</p>
<div class="lb-trans"><p>與香港機械行業的同行相比，其平均市盈率為 12.8 倍，三一重工國際控股顯得相對昂貴。然而，目前的市盈率實際上低於其估計的合理市盈率 16.2 倍。這表明市場可能正在向更高的合理水平移動，因為盈利能力和增長預測依然強勁。</p>
</div><p>Explore the SWS fair ratio for Sany Heavy Equipment International Holdings</p>
<div class="lb-trans"><p>探索三一重工國際控股的 SWS 合理比率</p>
</div><p><strong>Result: Price-to-Earnings of 15.4x (OVERVALUED)</strong></p>
<div class="lb-trans"><p><strong>結果：15.4 倍的市盈率（被高估）</strong></p>
</div><p>However, slower revenue growth or sudden profit pressures could quickly challenge the current optimism around Sany Heavy Equipment International Holdings’ valuation and momentum.</p>
<div class="lb-trans"><p>然而，收入增長放緩或突發的利潤壓力可能迅速挑戰當前對三一重工國際控股估值和勢頭的樂觀預期。</p>
</div><p>Find out about the key risks to this Sany Heavy Equipment International Holdings narrative.</p>
<div class="lb-trans"><p>瞭解三一重工國際控股敍述中的關鍵風險。</p>
</div><h2>Another View: Is the Market Missing Hidden Value?</h2>
<div class="lb-trans"><h2>另一種觀點：市場是否忽視了隱藏的價值？</h2>
</div><p>While the share price looks expensive based on traditional earnings multiples, our SWS DCF model suggests Sany Heavy Equipment International Holdings is actually trading well below its estimated fair value, by 52.7%. This model points to a potential undervaluation and raises the question: has the market overlooked future growth?</p>
<div class="lb-trans"><p>雖然基於傳統收益倍數股價看起來昂貴，但我們的 SWS DCF 模型表明，三一重工國際控股的交易價格實際上低於其估計的合理價值 52.7%。該模型指向潛在的低估，並提出了一個問題：市場是否忽視了未來的增長？</p>
</div><p>Look into how the SWS DCF model arrives at its fair value.</p>
<div class="lb-trans"><p>瞭解 SWS DCF 模型如何得出其合理價值。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/153f43e7-edcd-4fd9-9d31-b01f57e84742/chart/dcf" alt="" original-src="https://images.simplywall.st/company/153f43e7-edcd-4fd9-9d31-b01f57e84742/chart/dcf"/></p>
<p>631 Discounted Cash Flow as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 631 折現現金流</p>
</div><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Sany Heavy Equipment International Holdings for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 861 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p>
<div class="lb-trans"><p>Simply Wall St 每天對全球每隻股票進行折現現金流（DCF）分析（例如查看三一重工國際控股）。我們展示了完整的計算過程。您可以在您的觀察列表或投資組合中跟蹤結果，並在變化時收到提醒，或者使用我們的股票篩選器發現 861 只基於現金流的被低估股票。如果您保存篩選器，我們甚至會在新公司匹配時提醒您——這樣您就不會錯過潛在機會。</p>
</div><h2>Build Your Own Sany Heavy Equipment International Holdings Narrative</h2>
<div class="lb-trans"><h2>構建您自己的三一重工國際控股敍述</h2>
</div><p>If you have your own perspective or want to dig deeper into the numbers, you can shape your own story for Sany Heavy Equipment International Holdings in just a few minutes, and Do it your way.</p>
<div class="lb-trans"><p>如果您有自己的觀點或想深入挖掘數據，您可以在幾分鐘內為三一重工國際控股塑造自己的故事，按照您的方式進行。</p>
</div><p>A good starting point is our analysis highlighting 2 key rewards investors are optimistic about regarding Sany Heavy Equipment International Holdings.</p>
<div class="lb-trans"><p>一個好的起點是我們的分析，強調投資者對三一重工國際控股的 2 個關鍵回報的樂觀預期。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>尋找更多投資想法？</h2>
</div><p>Smart investors never settle for one opportunity. Position yourself ahead of the curve by uncovering stocks with hidden potential using these unique screens:</p>
<div class="lb-trans"><p>聰明的投資者從不滿足於一個機會。通過使用這些獨特的篩選器，提前發現具有隱藏潛力的股票，保持領先地位：</p>
</div><ul>
<li>Tap into tomorrow's breakthroughs by checking out these 25 AI penny stocks. These companies are making waves in the artificial intelligence landscape and shaping how technology drives real-world value.</li>
<li>Lock in powerful income streams when you access these 17 dividend stocks with yields &gt; 3%. This list features companies with attractive dividend yields and robust fundamentals.</li>
<li>Ride the momentum of market inefficiencies as you research these 861 undervalued stocks based on cash flows. This screener highlights stocks priced below their true worth for value-focused gains.</li>
</ul>
<div class="lb-trans"><ul>
<li>通過查看這 25 只人工智能便士股，抓住明天的突破。這些公司正在人工智能領域掀起波瀾，塑造技術如何驅動現實世界的價值。</li>
<li>通過訪問這些 17 只收益率超過 3% 的股息股票，鎖定強大的收入來源。該列表包含具有吸引力的股息收益率和穩健基本面的公司。</li>
<li>研究這些 861 只基於現金流的被低估股票，利用市場低效的勢頭。該篩選器突出了價格低於其真實價值的股票，以實現價值導向的收益。</li>
</ul>
</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>本文由 Simply Wall St 撰寫，內容具有一般性。<strong>我們提供基於歷史數據和分析師預測的評論，僅使用無偏見的方法，我們的文章不應被視為財務建議。</strong> 它不構成購買或出售任何股票的推薦，也未考慮您的目標或財務狀況。我們的目標是為您提供以基本數據驅動的長期分析。請注意，我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中沒有持倉。</em></p>
</div>

三一重工（SEHK:631）：在第三季度強勁的收益增長後評估其估值