<ul>
<li>想知道 Advanced Drainage Systems 是否被低估，還是其價格合理？你並不孤單，許多投資者正在權衡是否還有上漲空間，或者現在是否是重新考慮的時候。</li>
<li>過去一週，股價上漲了 7.1%，年初至今上漲了 34.3%，在過去五年中回報率達到了令人印象深刻的 119.1%。這些變動反映了市場樂觀情緒的變化和長期潛力。</li>
<li>最近的頭條新聞突出了公司在可持續水管理方面的持續擴張，以及美國基礎設施投資的增長。這些發展增強了對 Advanced Drainage Systems 的信心，並引發了對其股票的新一波興趣。</li>
<li>儘管興趣激增，但公司的價值評分為 0 分（滿分 6 分），這表明根據我們的估值檢查，該公司目前並未被低估。然而，正如你將看到的，估值並不總是那麼簡單。接下來，我們將分解傳統方法，並在本文最後揭示一種更聰明的價值觀。</li>
</ul>
<p>Advanced Drainage Systems 在我們的估值檢查中僅得 0/6 分。查看我們在完整估值分析中發現的其他警示信號。</p>
<h3>方法 1：Advanced Drainage Systems 折現現金流（DCF）分析</h3>
<p>折現現金流（DCF）模型通過預測未來現金流並將其折現回現值來估算企業今天的價值。這種方法提供了一個估計，説明投資者現在可能合理支付的公司價格，基於其未來的盈利能力。</p>
<p>對於 Advanced Drainage Systems，最近報告的自由現金流為 5.36 億美元。在接下來的十年中，現金流預計將保持強勁，分析師為前五年提供了年度估計，後續年份則由 Simply Wall St 推算。到 2027 年，自由現金流預計為 5.172 億美元，到 2035 年預計達到 5.817 億美元。</p>
<p>DCF 模型計算出的內在價值為每股 108.76 美元。將其與當前市場價格進行比較，顯示出隱含折扣為 -41.1%，這意味着該股票的交易價格遠高於其預計的公允價值。根據這種方法，Advanced Drainage Systems 的股票在今天的價格下顯得明顯被高估。</p>
<p><strong>結果：被高估</strong></p>
<p>我們的折現現金流（DCF）分析表明，Advanced Drainage Systems 可能被高估了 41.1%。發現 928 只被低估的股票，或創建自己的篩選器以尋找更好的價值機會。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1706" height="760" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/dcf"/></p>
<p>截至 2025 年 11 月的 WMS 折現現金流</p>
<p>前往我們公司報告的估值部分，瞭解我們如何得出 Advanced Drainage Systems 的公允價值的更多細節。</p>
<h3>方法 2：Advanced Drainage Systems 價格與收益</h3>
<p>對於盈利的公司，市盈率（PE）是一個廣泛使用的估值指標，因為它直接將公司的當前價格與其盈利能力聯繫起來。這使得市盈率特別適合評估像 Advanced Drainage Systems 這樣的成熟企業，因為它們持續產生利潤。</p>
<p>解釋什麼構成 “公允” 市盈率取決於預期增長率和風險等因素。一般來説，盈利增長較高或被認為風險較低的公司可以為其市盈率溢價或更高的市盈率倍數辯護，相比於同一行業中增長較慢或風險較高的公司。</p>
<p>從數字來看，Advanced Drainage Systems 的市盈率為 26 倍，顯著高於建築行業的平均水平 19 倍及其同行的平均水平 18 倍。從表面上看，這表明該股票的定價高於其直接競爭對手和更廣泛行業的水平。</p>
<p>然而，Simply Wall St 引入了 “公允比率”，它反映了基於公司自身的增長前景、盈利能力、風險特徵、市值和行業背景的更細緻的市盈率。與基本的同行或行業比較不同，公允比率提供了一個量身定製的基準，回答了這個特定企業是否真正值得溢價或折扣的問題。</p>
<p>在這種情況下，Advanced Drainage Systems 的公允比率為 26 倍，幾乎與其當前的市盈率倍數完全匹配。這種一致性表明，市場在考慮其前景、財務實力和風險時，合理地對該公司進行了定價。</p>
<p><strong>結果：大致合理</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/pe-multiple-vs-industry?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/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 11 月的 NYSE:WMS 市盈率</p>
<p>市盈率講述了一個故事，但如果真正的機會在其他地方呢？發現 1440 家內部人士正在大舉押注於爆炸性增長的公司。</p>
<h3>提升你的決策能力：選擇你的 Advanced Drainage Systems 故事</h3>
<p>我們之前提到過，有一種更好的方式來理解估值，所以讓我們向你介紹敍述。敍述是一個簡單而強大的工具，幫助你構建數字背後的清晰故事：你陳述自己對公司未來的看法，例如其公允價值、預計收入、盈利和利潤率，基於你對其前景和風險的解讀。通過將公司的故事與財務預測聯繫起來，然後與公允價值相聯繫，敍述使投資者能夠超越靜態數字，做出動態、基於信念的決策。</p>
<p>在 Simply Wall St 社區頁面上提供的敍述使投資變得簡單且具有協作性，已有數百萬用户在使用。它們會隨着新消息或收益的發佈而自動更新，幫助你一目瞭然地看到你的故事是否仍然符合最新事實，以及當前價格是否提供機會。例如，一些 Advanced Drainage Systems 的投資者可能通過預測利潤擴張和公允價值為 172 美元來構建一個看漲的敍述，而更謹慎的同行則在週期性需求中看到風險，將其公允價值設定在接近 130 美元。敍述使你能夠選擇與你的信念相匹配的故事（和價值），並在價格與論點出現分歧時果斷行動。</p>
<p>你認為關於 Advanced Drainage Systems 的故事還有更多內容嗎？快來我們的社區看看其他人怎麼説！</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/community-fair-value?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="582" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/community-fair-value"/></p>
<p>截至 2025 年 11 月的紐約證券交易所：WMS 社區公允價值</p>
<p><em>這篇文章由 Simply Wall St 撰寫，內容具有一般性。<strong>我們基於歷史數據和分析師預測提供評論，僅使用無偏見的方法，我們的文章並不構成財務建議。</strong> 它不構成買入或賣出任何股票的推薦，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>

<p>先進排水系統的股票大幅上漲，但估值檢查表明其可能被高估。現金流折現分析顯示高估幅度為 41.1%，而其市盈率與增長前景相符，表明市場估值合理。儘管在可持續水管理和美國基礎設施投資方面有所增長，但該公司的價值評分為 0/6，表明可能存在高估的風險</p>

<ul>
<li>Wondering if Advanced Drainage Systems could be undervalued or is living up to its price tag? You are not alone, as many investors are weighing whether there is room to run or if now is the time to reconsider.</li>
<li>The shares have climbed 7.1% in the past week, are up 34.3% year-to-date, and have returned an impressive 119.1% over the last five years. These movements reflect shifting market optimism and long-term potential.</li>
<li>Recent headlines have highlighted the company's continued expansion in sustainable water management, along with growing infrastructure investments in the U.S. These developments have fueled both confidence in Advanced Drainage Systems and a fresh wave of interest in its stock.</li>
<li>Despite surging interest, the company's value score sits at 0 out of 6, signaling that by our valuation checks, the company is not currently undervalued. However, as you’ll see, valuation is not always so straightforward. Up next, we will break down the traditional approaches and reveal a smarter way to look at value at the end of this article.</li>
</ul>
<div class="lb-trans"><ul>
<li>想知道 Advanced Drainage Systems 是否被低估，還是其價格合理？你並不孤單，許多投資者正在權衡是否還有上漲空間，或者現在是否是重新考慮的時候。</li>
<li>過去一週，股價上漲了 7.1%，年初至今上漲了 34.3%，在過去五年中回報率達到了令人印象深刻的 119.1%。這些變動反映了市場樂觀情緒的變化和長期潛力。</li>
<li>最近的頭條新聞突出了公司在可持續水管理方面的持續擴張，以及美國基礎設施投資的增長。這些發展增強了對 Advanced Drainage Systems 的信心，並引發了對其股票的新一波興趣。</li>
<li>儘管興趣激增，但公司的價值評分為 0 分（滿分 6 分），這表明根據我們的估值檢查，該公司目前並未被低估。然而，正如你將看到的，估值並不總是那麼簡單。接下來，我們將分解傳統方法，並在本文最後揭示一種更聰明的價值觀。</li>
</ul>
</div><p>Advanced Drainage Systems scores just 0/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.</p>
<div class="lb-trans"><p>Advanced Drainage Systems 在我們的估值檢查中僅得 0/6 分。查看我們在完整估值分析中發現的其他警示信號。</p>
</div><h3>Approach 1: Advanced Drainage Systems Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法 1：Advanced Drainage Systems 折現現金流（DCF）分析</h3>
</div><p>A Discounted Cash Flow (DCF) model estimates what a business is worth today by projecting its future cash flows and then discounting them back to their present value. This approach provides an estimate of what investors might reasonably pay for the company now, based on its future earning power.</p>
<div class="lb-trans"><p>折現現金流（DCF）模型通過預測未來現金流並將其折現回現值來估算企業今天的價值。這種方法提供了一個估計，説明投資者現在可能合理支付的公司價格，基於其未來的盈利能力。</p>
</div><p>For Advanced Drainage Systems, the most recent reported Free Cash Flow is $536 million. Over the next ten years, cash flows are forecast to remain strong, with analysts providing annual estimates for the first five years and further years extrapolated by Simply Wall St. By 2027, Free Cash Flow is projected to be $517.2 million and by 2035 it is expected to reach $581.7 million.</p>
<div class="lb-trans"><p>對於 Advanced Drainage Systems，最近報告的自由現金流為 5.36 億美元。在接下來的十年中，現金流預計將保持強勁，分析師為前五年提供了年度估計，後續年份則由 Simply Wall St 推算。到 2027 年，自由現金流預計為 5.172 億美元，到 2035 年預計達到 5.817 億美元。</p>
</div><p>The DCF model calculates an intrinsic value of $108.76 per share. Comparing this to the current market price reveals an implied discount of -41.1%, meaning the stock is trading well above its projected fair value. According to this approach, Advanced Drainage Systems shares appear significantly overvalued at today's prices.</p>
<div class="lb-trans"><p>DCF 模型計算出的內在價值為每股 108.76 美元。將其與當前市場價格進行比較，顯示出隱含折扣為 -41.1%，這意味着該股票的交易價格遠高於其預計的公允價值。根據這種方法，Advanced Drainage Systems 的股票在今天的價格下顯得明顯被高估。</p>
</div><p><strong>Result: OVERVALUED</strong></p>
<div class="lb-trans"><p><strong>結果：被高估</strong></p>
</div><p>Our Discounted Cash Flow (DCF) analysis suggests Advanced Drainage Systems may be overvalued by 41.1%. Discover 928 undervalued stocks or create your own screener to find better value opportunities.</p>
<div class="lb-trans"><p>我們的折現現金流（DCF）分析表明，Advanced Drainage Systems 可能被高估了 41.1%。發現 928 只被低估的股票，或創建自己的篩選器以尋找更好的價值機會。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/dcf" alt="" original-src="https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/dcf"/></p>
<p>WMS Discounted Cash Flow as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 WMS 折現現金流</p>
</div><p>Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Advanced Drainage Systems.</p>
<div class="lb-trans"><p>前往我們公司報告的估值部分，瞭解我們如何得出 Advanced Drainage Systems 的公允價值的更多細節。</p>
</div><h3>Approach 2: Advanced Drainage Systems Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：Advanced Drainage Systems 價格與收益</h3>
</div><p>For profitable companies, Price-to-Earnings (PE) is a widely used metric to gauge valuation since it directly relates a company's current price to its earnings power. This makes the PE ratio especially suitable for assessing established businesses like Advanced Drainage Systems, which consistently generate profits.</p>
<div class="lb-trans"><p>對於盈利的公司，市盈率（PE）是一個廣泛使用的估值指標，因為它直接將公司的當前價格與其盈利能力聯繫起來。這使得市盈率特別適合評估像 Advanced Drainage Systems 這樣的成熟企業，因為它們持續產生利潤。</p>
</div><p>Interpreting what constitutes a &#34;fair&#34; PE ratio depends on factors such as expected growth rates and risk. Generally, companies boasting higher earnings growth or lower perceived risks can justify a premium, or higher PE multiple, compared to slower-growing or riskier firms in the same sector.</p>
<div class="lb-trans"><p>解釋什麼構成 “公允” 市盈率取決於預期增長率和風險等因素。一般來説，盈利增長較高或被認為風險較低的公司可以為其市盈率溢價或更高的市盈率倍數辯護，相比於同一行業中增長較慢或風險較高的公司。</p>
</div><p>Looking at the numbers, Advanced Drainage Systems trades at a PE of 26x, which is notably above the Building industry average of 19x and its peer average of 18x. On the surface, this suggests the stock is priced at a premium to both its direct competitors and the broader sector.</p>
<div class="lb-trans"><p>從數字來看，Advanced Drainage Systems 的市盈率為 26 倍，顯著高於建築行業的平均水平 19 倍及其同行的平均水平 18 倍。從表面上看，這表明該股票的定價高於其直接競爭對手和更廣泛行業的水平。</p>
</div><p>However, Simply Wall St introduces the “Fair Ratio,” which reflects a more nuanced PE based on the company’s own growth outlook, profitability, risk profile, market capitalization, and industry context. Unlike basic peer or sector comparisons, the Fair Ratio presents a tailored benchmark that answers whether a premium or discount is actually warranted for this specific business.</p>
<div class="lb-trans"><p>然而，Simply Wall St 引入了 “公允比率”，它反映了基於公司自身的增長前景、盈利能力、風險特徵、市值和行業背景的更細緻的市盈率。與基本的同行或行業比較不同，公允比率提供了一個量身定製的基準，回答了這個特定企業是否真正值得溢價或折扣的問題。</p>
</div><p>In this case, Advanced Drainage Systems’ Fair Ratio is 26x, which almost exactly matches its current PE multiple. This alignment indicates the market is valuing the company fairly, considering its prospects, financial strength, and risks.</p>
<div class="lb-trans"><p>在這種情況下，Advanced Drainage Systems 的公允比率為 26 倍，幾乎與其當前的市盈率倍數完全匹配。這種一致性表明，市場在考慮其前景、財務實力和風險時，合理地對該公司進行了定價。</p>
</div><p><strong>Result: ABOUT RIGHT</strong></p>
<div class="lb-trans"><p><strong>結果：大致合理</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:WMS PE Ratio as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 NYSE:WMS 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1440 companies where insiders are betting big on explosive growth.</p>
<div class="lb-trans"><p>市盈率講述了一個故事，但如果真正的機會在其他地方呢？發現 1440 家內部人士正在大舉押注於爆炸性增長的公司。</p>
</div><h3>Upgrade Your Decision Making: Choose your Advanced Drainage Systems Narrative</h3>
<div class="lb-trans"><h3>提升你的決策能力：選擇你的 Advanced Drainage Systems 故事</h3>
</div><p>Earlier we mentioned that there's an even better way to understand valuation, so let's introduce you to Narratives. Narratives are a simple yet powerful tool that helps you craft a clear story behind the numbers: you state your own view of a company’s future, such as its fair value, projected revenue, earnings, and profit margins, based on how you interpret its outlook and risks. By linking a company's story to a financial forecast and then to a fair value, Narratives let investors move beyond static numbers and make dynamic, conviction-based decisions.</p>
<div class="lb-trans"><p>我們之前提到過，有一種更好的方式來理解估值，所以讓我們向你介紹敍述。敍述是一個簡單而強大的工具，幫助你構建數字背後的清晰故事：你陳述自己對公司未來的看法，例如其公允價值、預計收入、盈利和利潤率，基於你對其前景和風險的解讀。通過將公司的故事與財務預測聯繫起來，然後與公允價值相聯繫，敍述使投資者能夠超越靜態數字，做出動態、基於信念的決策。</p>
</div><p>Available in the Simply Wall St Community page, Narratives make investing easy and collaborative, with millions already using them. They update automatically as new news or earnings are released, helping you see at a glance if your story still fits the latest facts and whether the current price offers opportunity. For example, some Advanced Drainage Systems investors might build a bullish Narrative by projecting margin expansion and a fair value of $172, while more cautious peers see risks in cyclical demand and set their fair value closer to $130. Narratives empower you to choose the story (and value) that matches your belief and act decisively when price and thesis diverge.</p>
<div class="lb-trans"><p>在 Simply Wall St 社區頁面上提供的敍述使投資變得簡單且具有協作性，已有數百萬用户在使用。它們會隨着新消息或收益的發佈而自動更新，幫助你一目瞭然地看到你的故事是否仍然符合最新事實，以及當前價格是否提供機會。例如，一些 Advanced Drainage Systems 的投資者可能通過預測利潤擴張和公允價值為 172 美元來構建一個看漲的敍述，而更謹慎的同行則在週期性需求中看到風險，將其公允價值設定在接近 130 美元。敍述使你能夠選擇與你的信念相匹配的故事（和價值），並在價格與論點出現分歧時果斷行動。</p>
</div><p>Do you think there's more to the story for Advanced Drainage Systems? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>你認為關於 Advanced Drainage Systems 的故事還有更多內容嗎？快來我們的社區看看其他人怎麼説！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/community-fair-value" alt="" original-src="https://images.simplywall.st/company/2f70e886-330c-46b0-ae42-c2d1156e225a/chart/community-fair-value"/></p>
<p>NYSE:WMS Community Fair Values as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的紐約證券交易所：WMS 社區公允價值</p>
</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>這篇文章由 Simply Wall St 撰寫，內容具有一般性。<strong>我們基於歷史數據和分析師預測提供評論，僅使用無偏見的方法，我們的文章並不構成財務建議。</strong> 它不構成買入或賣出任何股票的推薦，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>
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在持續增長以及美國基礎設施投資擴大的背景下，Advanced Drainage Systems 的定價是否合理？