<p>亞朵生活控股（NasdaqGS:ATAT）剛剛發佈了第三季度業績報告，收入和淨利潤均較去年有所增長。該公司還提高了全年展望，並宣佈了第二次現金分紅。</p>
<p>查看我們對亞朵生活控股的最新分析。</p>
<p>在樂觀的財報、分紅公告和加速擴張計劃的推動下，亞朵生活控股吸引了大量市場關注。最新的股價收於 40.43 美元，年初至今的股價回報率接近 50%，過去一年的總股東回報率則達到了令人印象深刻的 57.7%。簡而言之，隨着增長舉措和股東回報吸引投資者的目光，股票的勢頭正在增強。</p>
<p>如果這些舉措讓你在尋找下一個機會，現在是拓寬選擇、發現高內部持股的快速增長股票的好時機。</p>
<p>然而，考慮到今年股價上漲近 50% 且全年增長預測已公開，投資者面臨的關鍵問題是亞朵的股票是否仍然具有真正的價值，還是未來的收益已經反映在價格中。</p>
<h2>最受歡迎的敍述：低估 13.2%</h2>
<p>最廣泛關注的敍述表明，亞朵的公允價值顯著高於其最新的收盤價，引起了對這一差距的關注，並引發了關於推動這種樂觀情緒的增長的討論。</p>
<blockquote>
<p><em>該公司專注於差異化、高質量的生活方式和體驗品牌（如 SAVHE 和亞朵輕奢），以及強大的產品創新，符合消費者對體驗和主題住宿的偏好。這支持了高端定價、更高的每間可用房收入（RevPAR）和品牌忠誠度，直接提升了收入和利潤率。</em></p>
</blockquote>
<p>閲讀完整的敍述。</p>
<p>想要了解塑造這一大膽上行的財務假設嗎？該敍述依賴於快速上升的利潤率和高端定價策略。發現分析師們押注於哪些激進的增長因素，以證明這一價值差距。</p>
<p><strong>結果：公允價值為 46.57 美元（低估）</strong></p>
<p>完整閲讀敍述，瞭解預測背後的原因。</p>
<p>然而，快速的酒店擴張或特許經營商的質量控制可能出現失誤，這可能會削弱增長並使近期的利潤率提升面臨風險。</p>
<p>瞭解亞朵生活控股敍述中的關鍵風險。</p>
<h2>另一種觀點：收益比率暗示了什麼？</h2>
<p>從收益的角度來看，亞朵生活的市盈率為 26.7 倍。這高於美國酒店行業平均的 21.3 倍，但低於同行的平均 32.5 倍。雖然這一溢價表明投資者的樂觀情緒，但如果增長預期未能實現，也突顯了估值風險。如果市場情緒或行業趨勢發生變化，會發生什麼？</p>
<p>查看數字對這一價格的看法——在我們的估值分析中瞭解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/15fd862a-f97f-433e-a8dc-ac1e3439f87d/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/15fd862a-f97f-433e-a8dc-ac1e3439f87d/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NasdaqGS:ATAT 市盈率</p>
<h2>構建您自己的亞朵生活控股敍述</h2>
<p>如果當前分析與您的觀點不符，您可以快速探索亞朵的數據，在幾分鐘內構建自己的觀點。</p>
<p>一個好的起點是我們的分析，強調投資者對亞朵生活控股的 3 個關鍵回報的樂觀情緒。</p>
<h2>尋找更多突出機會？</h2>
<p>擴展您的投資工具包，挖掘您可能未曾考慮的新增長前景。這是您領先於人羣的機會。</p>
<ul>
<li>通過利用這些 928 只被市場忽視但基本面強勁且有上行空間的低估股票，最大化潛在回報。</li>
<li>通過這些 14 只收益率超過 3% 的分紅股票，確保可靠的收入來源，適合希望兼顧增長和穩定的投資者。</li>
<li>通過瞄準這些 25 只推動明天各行業突破的 AI 小盤股，乘上創新的浪潮。</li>
</ul>
<p><em>本文由 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，採用無偏見的方法，我們的文章不構成財務建議。</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。我們旨在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>

亞朵

<p>亞朵生活控股（NasdaqGS:ATAT）公佈了強勁的第三季度業績，收入和淨利潤均有所增加，提升了全年展望，並宣佈了第二次現金分紅。該股票年初至今上漲近 50%，公允價值估計為 46.57 美元，表明其被低估。該公司專注於高品質生活方式品牌，支持高端定價和品牌忠誠度。然而，風險包括擴張和質量控制方面的潛在失誤。亞朵的市盈率為 26.7 倍，高於行業平均水平，表明樂觀情緒，但也存在估值風險</p>

<p>Atour Lifestyle Holdings (NasdaqGS:ATAT) just released its third quarter results, reporting higher revenue and net income compared to last year. The company also raised its full-year outlook and declared a second cash dividend.</p>
<div class="lb-trans"><p>亞朵生活控股（NasdaqGS:ATAT）剛剛發佈了第三季度業績報告，收入和淨利潤均較去年有所增長。該公司還提高了全年展望，並宣佈了第二次現金分紅。</p>
</div><p>See our latest analysis for Atour Lifestyle Holdings.</p>
<div class="lb-trans"><p>查看我們對亞朵生活控股的最新分析。</p>
</div><p>After climbing on the back of upbeat earnings, a dividend announcement, and plans for accelerated expansion, Atour Lifestyle Holdings has attracted plenty of market attention. The latest share price closed at $40.43, delivering a robust year-to-date share price return of nearly 50% and an impressive 57.7% total shareholder return over the past year. In short, the stock’s momentum is building as growth initiatives and shareholder rewards catch investors’ eyes.</p>
<div class="lb-trans"><p>在樂觀的財報、分紅公告和加速擴張計劃的推動下，亞朵生活控股吸引了大量市場關注。最新的股價收於 40.43 美元，年初至今的股價回報率接近 50%，過去一年的總股東回報率則達到了令人印象深刻的 57.7%。簡而言之，隨着增長舉措和股東回報吸引投資者的目光，股票的勢頭正在增強。</p>
</div><p>If these moves have you scanning for the next opportunity, now is a great time to broaden your options and discover fast growing stocks with high insider ownership</p>
<div class="lb-trans"><p>如果這些舉措讓你在尋找下一個機會，現在是拓寬選擇、發現高內部持股的快速增長股票的好時機。</p>
</div><p>Yet with the stock advancing nearly 50% this year and full-year growth forecasts now public, the critical question for investors is whether Atour shares still offer real value or if future gains are already reflected in the price.</p>
<div class="lb-trans"><p>然而，考慮到今年股價上漲近 50% 且全年增長預測已公開，投資者面臨的關鍵問題是亞朵的股票是否仍然具有真正的價值，還是未來的收益已經反映在價格中。</p>
</div><h2>Most Popular Narrative: 13.2% Undervalued</h2>
<div class="lb-trans"><h2>最受歡迎的敍述：低估 13.2%</h2>
</div><p>The most widely followed narrative suggests Atour’s fair value sits notably above its latest closing price, drawing attention to the gap and stirring debate over the growth fueling such optimism.</p>
<div class="lb-trans"><p>最廣泛關注的敍述表明，亞朵的公允價值顯著高於其最新的收盤價，引起了對這一差距的關注，並引發了關於推動這種樂觀情緒的增長的討論。</p>
</div><blockquote>
<p><em>The company’s focus on differentiated, high-quality lifestyle and experiential brands (such as SAVHE and Atour Light), alongside strong product innovation, aligns with shifting consumer preferences toward experiential and themed stays. This supports premium pricing, higher RevPAR, and brand loyalty, directly enhancing top-line revenue and margins.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>該公司專注於差異化、高質量的生活方式和體驗品牌（如 SAVHE 和亞朵輕奢），以及強大的產品創新，符合消費者對體驗和主題住宿的偏好。這支持了高端定價、更高的每間可用房收入（RevPAR）和品牌忠誠度，直接提升了收入和利潤率。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>閲讀完整的敍述。</p>
</div><p>Want a glimpse into the financial assumptions shaping this bold upside? The narrative hinges on fast-rising margins and a premium pricing playbook. Discover exactly which aggressive growth factors analysts are betting on to justify this value gap.</p>
<div class="lb-trans"><p>想要了解塑造這一大膽上行的財務假設嗎？該敍述依賴於快速上升的利潤率和高端定價策略。發現分析師們押注於哪些激進的增長因素，以證明這一價值差距。</p>
</div><p><strong>Result: Fair Value of $46.57 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>結果：公允價值為 46.57 美元（低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整閲讀敍述，瞭解預測背後的原因。</p>
</div><p>However, possible missteps in rapid hotel expansion or quality control across franchisees could undermine growth and put recent margin gains at risk.</p>
<div class="lb-trans"><p>然而，快速的酒店擴張或特許經營商的質量控制可能出現失誤，這可能會削弱增長並使近期的利潤率提升面臨風險。</p>
</div><p>Find out about the key risks to this Atour Lifestyle Holdings narrative.</p>
<div class="lb-trans"><p>瞭解亞朵生活控股敍述中的關鍵風險。</p>
</div><h2>Another View: What Do Earnings Ratios Suggest?</h2>
<div class="lb-trans"><h2>另一種觀點：收益比率暗示了什麼？</h2>
</div><p>Looking at the valuation through an earnings lens, Atour Lifestyle trades at 26.7 times earnings. This is higher than the US hospitality industry average of 21.3 times, but below peer averages at 32.5 times. While this premium suggests investor optimism, it also highlights valuation risk if growth expectations are not met. What will happen if market sentiment or industry trends shift?</p>
<div class="lb-trans"><p>從收益的角度來看，亞朵生活的市盈率為 26.7 倍。這高於美國酒店行業平均的 21.3 倍，但低於同行的平均 32.5 倍。雖然這一溢價表明投資者的樂觀情緒，但如果增長預期未能實現，也突顯了估值風險。如果市場情緒或行業趨勢發生變化，會發生什麼？</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看數字對這一價格的看法——在我們的估值分析中瞭解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/15fd862a-f97f-433e-a8dc-ac1e3439f87d/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/15fd862a-f97f-433e-a8dc-ac1e3439f87d/chart/pe-multiple-vs-industry"/></p>
<p>NasdaqGS:ATAT PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NasdaqGS:ATAT 市盈率</p>
</div><h2>Build Your Own Atour Lifestyle Holdings Narrative</h2>
<div class="lb-trans"><h2>構建您自己的亞朵生活控股敍述</h2>
</div><p>If the current analysis does not align with your perspective, you can quickly explore Atour’s data to build your own view in just a few minutes using Do it your way.</p>
<div class="lb-trans"><p>如果當前分析與您的觀點不符，您可以快速探索亞朵的數據，在幾分鐘內構建自己的觀點。</p>
</div><p>A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding Atour Lifestyle Holdings.</p>
<div class="lb-trans"><p>一個好的起點是我們的分析，強調投資者對亞朵生活控股的 3 個關鍵回報的樂觀情緒。</p>
</div><h2>Looking for More Standout Opportunities?</h2>
<div class="lb-trans"><h2>尋找更多突出機會？</h2>
</div><p>Expand your investing toolkit and tap into fresh growth prospects with stock ideas you might not have considered. This is your chance to stay ahead of the crowd.</p>
<div class="lb-trans"><p>擴展您的投資工具包，挖掘您可能未曾考慮的新增長前景。這是您領先於人羣的機會。</p>
</div><ul>
<li>Maximize potential returns by tapping into these 928 undervalued stocks based on cash flows that the market has overlooked but show strong fundamentals and upside.</li>
<li>Secure reliable income streams with these 14 dividend stocks with yields &gt; 3% offering consistent yields above 3%, ideal if you want both growth and stability.</li>
<li>Ride the wave of innovation by targeting these 25 AI penny stocks powering tomorrow’s breakthroughs across industries through cutting-edge artificial intelligence.</li>
</ul>
<div class="lb-trans"><ul>
<li>通過利用這些 928 只被市場忽視但基本面強勁且有上行空間的低估股票，最大化潛在回報。</li>
<li>通過這些 14 只收益率超過 3% 的分紅股票，確保可靠的收入來源，適合希望兼顧增長和穩定的投資者。</li>
<li>通過瞄準這些 25 只推動明天各行業突破的 AI 小盤股，乘上創新的浪潮。</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>我們基於歷史數據和分析師預測提供評論，採用無偏見的方法，我們的文章不構成財務建議。</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。我們旨在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>

亞朵生活控股（納斯達克股票代碼：ATAT）：在業績強勁、股息增加以及上調業績指引後評估其估值