<p>關於 Donnelley Financial Solutions (DFIN) 的最新評論指出，客户留存率惡化和 ActiveDisclosure 訂閲增長放緩。這使得其向軟件收入佔比過半的轉型受到當前和潛在股東的更嚴格審視。</p>
<p>請查看我們對 Donnelley Financial Solutions 的最新分析。</p>
<p>該股票也感受到了這種壓力，年初至今的股價回報率約為負 25%，而 1 年總股東回報率接近負 25%，儘管 5 年總股東回報率仍然保持在舒適的正值。</p>
<p>如果這種波動讓你在比較選項，現在可能是掃描市場尋找其他高內部持股的快速增長股票的好時機，這些股票可能提供更強的增長敍述。</p>
<p>目前股票交易價格大幅低於分析師目標價，但對其軟件轉型的情緒卻在惡化，Donnelley Financial Solutions 是被低估的反彈機會，還是市場正確地反映了未來增長的疲軟？</p>
<h2>最受歡迎的敍述：28.8% 被低估</h2>
<p>由於敍述的公允價值遠高於 DFIN 的最後收盤價，這個故事的關鍵在於其軟件轉型是否真正改變未來的盈利能力。</p>
<blockquote>
<p><em>全球監管複雜性持續增加，例如最近的定製股東報告法規以及不斷演變的 ESG 和財務披露要求，推動了合規軟件（例如 Arc Suite 和 ActiveDisclosure）的持續採用，預計將提升經常性收入並擴大利潤率，因為合規從印刷轉向基於軟件的解決方案。</em></p>
</blockquote>
<p>閲讀完整敍述。</p>
<p>好奇温和的收入增長如何仍能支持更高的估值？這個敍述依賴於激進的盈利擴張和隨着時間推移的更高利潤率。想看看這一判斷背後的確切路線圖嗎？深入瞭解完整的分析，檢驗這些假設是否與你自己的觀點相符。</p>
<p><strong>結果：公允價值為 64.33 美元（被低估）</strong></p>
<p>完整閲讀敍述，瞭解預測背後的原因。</p>
<p>然而，持續的印刷下降和軟件採用速度低於預期可能會削弱利潤擴張，使得盈利更容易受到週期性交易疲軟的影響。</p>
<p>瞭解 Donnelley Financial Solutions 敍述的關鍵風險。</p>
<h2>估值的另一種角度</h2>
<p>倍數講述了一個不同的故事。DFIN 的市盈率為 37.4 倍，遠高於美國資本市場平均水平的 25 倍、同行平均水平的 18.1 倍，甚至高於其自身的公允比率 25 倍。這裏的樂觀情緒是否過於高漲？</p>
<p>查看數字對這個價格的看法——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/0703b776-168f-42c1-8915-88aec93fdf97/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/0703b776-168f-42c1-8915-88aec93fdf97/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NYSE:DFIN 市盈率</p>
<h2>構建你自己的 Donnelley Financial Solutions 敍述</h2>
<p>如果你對數字有不同的看法，或者想自己進行假設壓力測試，你可以在幾分鐘內構建一個新的敍述。按照你的方式進行。</p>
<p>進行 Donnelley Financial Solutions 研究的一個很好的起點是我們的分析，強調 3 個關鍵收益和 2 個重要警示信號，這些可能會影響你的投資決策。</p>
<h2>尋找更多投資想法？</h2>
<p>在你繼續之前，通過鎖定符合你風格的新機會來建立更強的觀察名單，以免錯失潛在收益。</p>
<ul>
<li>通過掃描這些 902 只被低估的股票，捕捉被市場忽視的潛在價值，儘管它們的基本面穩健。</li>
<li>利用這些 30 只重塑醫療和自動化的醫療 AI 股票，順應結構性順風，改變護理的交付和分析方式。</li>
<li>通過鎖定這些 15 只收益率超過 3% 的股息股票，提升你的收入關注，這些股票由成熟企業支持，提供有吸引力的收益。</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，我們的文章並不旨在提供財務建議。</strong> 這並不構成買入或賣出任何股票的推薦，也未考慮你的目標或財務狀況。我們的目標是為你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 對提到的任何股票沒有持倉。</em></p>

DFIN

<p>Donnelley Financial Solutions (DFIN) 面臨客户留存和訂閲增長放緩的挑戰，這影響了其軟件收入的轉型。該股今年迄今已下跌 25%，引發了對其估值的質疑。分析師認為其被低估 28.8%，公允價值為 64.33 美元，但對軟件採用和印刷業務下滑的擔憂依然存在。DFIN 的市盈率高於行業平均水平，暗示可能存在高估的風險。投資者被建議考慮其他成長型股票，並評估 DFIN 的風險與回報</p>

<p>Fresh commentary on Donnelley Financial Solutions (DFIN) is flagging worsening customer retention and slowing ActiveDisclosure subscription growth. This is putting its push toward a majority software revenue mix under sharper scrutiny for current and prospective shareholders.</p>
<div class="lb-trans"><p>關於 Donnelley Financial Solutions (DFIN) 的最新評論指出，客户留存率惡化和 ActiveDisclosure 訂閲增長放緩。這使得其向軟件收入佔比過半的轉型受到當前和潛在股東的更嚴格審視。</p>
</div><p>See our latest analysis for Donnelley Financial Solutions.</p>
<div class="lb-trans"><p>請查看我們對 Donnelley Financial Solutions 的最新分析。</p>
</div><p>The stock has been feeling that pressure too, with a sharp year to date share price return of around minus 25 percent and a 1 year total shareholder return near minus 25 percent, even though the 5 year total shareholder return is still comfortably positive.</p>
<div class="lb-trans"><p>該股票也感受到了這種壓力，年初至今的股價回報率約為負 25%，而 1 年總股東回報率接近負 25%，儘管 5 年總股東回報率仍然保持在舒適的正值。</p>
</div><p>If this kind of volatility has you comparing options, it could be a good time to scan the market for other fast growing stocks with high insider ownership that might offer a stronger growth narrative.</p>
<div class="lb-trans"><p>如果這種波動讓你在比較選項，現在可能是掃描市場尋找其他高內部持股的快速增長股票的好時機，這些股票可能提供更強的增長敍述。</p>
</div><p>With shares now trading at a steep discount to analyst targets, yet sentiment souring on its software transition, is Donnelley Financial Solutions an undervalued rebound play or is the market correctly pricing in weaker growth ahead?</p>
<div class="lb-trans"><p>目前股票交易價格大幅低於分析師目標價，但對其軟件轉型的情緒卻在惡化，Donnelley Financial Solutions 是被低估的反彈機會，還是市場正確地反映了未來增長的疲軟？</p>
</div><h2>Most Popular Narrative: 28.8% Undervalued</h2>
<div class="lb-trans"><h2>最受歡迎的敍述：28.8% 被低估</h2>
</div><p>With the narrative fair value sitting well above DFIN's last close, the story hinges on whether its software pivot truly transforms future earnings power.</p>
<div class="lb-trans"><p>由於敍述的公允價值遠高於 DFIN 的最後收盤價，這個故事的關鍵在於其軟件轉型是否真正改變未來的盈利能力。</p>
</div><blockquote>
<p><em>The ongoing global increase in regulatory complexity like the recent Tailored Shareholder Reports regulation and persistent, evolving ESG and financial disclosure demands is driving continued adoption of compliance software (e.g., Arc Suite and ActiveDisclosure), expected to boost recurring revenue and expand margins as compliance shifts from print to software based solutions.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>全球監管複雜性持續增加，例如最近的定製股東報告法規以及不斷演變的 ESG 和財務披露要求，推動了合規軟件（例如 Arc Suite 和 ActiveDisclosure）的持續採用，預計將提升經常性收入並擴大利潤率，因為合規從印刷轉向基於軟件的解決方案。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>閲讀完整敍述。</p>
</div><p>Curious how modest revenue growth can still support a much higher valuation? The narrative leans on aggressive earnings expansion and richer margins over time. Want to see the exact roadmap behind that call? Dive into the full breakdown and test whether those assumptions stack up against your own view.</p>
<div class="lb-trans"><p>好奇温和的收入增長如何仍能支持更高的估值？這個敍述依賴於激進的盈利擴張和隨着時間推移的更高利潤率。想看看這一判斷背後的確切路線圖嗎？深入瞭解完整的分析，檢驗這些假設是否與你自己的觀點相符。</p>
</div><p><strong>Result: Fair Value of $64.33 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>結果：公允價值為 64.33 美元（被低估）</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, persistent print declines and slower than expected software adoption could undermine margin expansion and leave earnings more vulnerable to cyclical transaction weakness.</p>
<div class="lb-trans"><p>然而，持續的印刷下降和軟件採用速度低於預期可能會削弱利潤擴張，使得盈利更容易受到週期性交易疲軟的影響。</p>
</div><p>Find out about the key risks to this Donnelley Financial Solutions narrative.</p>
<div class="lb-trans"><p>瞭解 Donnelley Financial Solutions 敍述的關鍵風險。</p>
</div><h2>Another Angle on Valuation</h2>
<div class="lb-trans"><h2>估值的另一種角度</h2>
</div><p>Multiples tell a different story. DFIN trades on a price to earnings ratio of 37.4 times, well above the US Capital Markets average of 25 times, the peer average of 18.1 times, and even its own fair ratio of 25 times. Is optimism here running too hot?</p>
<div class="lb-trans"><p>倍數講述了一個不同的故事。DFIN 的市盈率為 37.4 倍，遠高於美國資本市場平均水平的 25 倍、同行平均水平的 18.1 倍，甚至高於其自身的公允比率 25 倍。這裏的樂觀情緒是否過於高漲？</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看數字對這個價格的看法——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/0703b776-168f-42c1-8915-88aec93fdf97/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/0703b776-168f-42c1-8915-88aec93fdf97/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:DFIN PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NYSE:DFIN 市盈率</p>
</div><h2>Build Your Own Donnelley Financial Solutions Narrative</h2>
<div class="lb-trans"><h2>構建你自己的 Donnelley Financial Solutions 敍述</h2>
</div><p>If you see the numbers differently or want to stress test the assumptions yourself, you can build a fresh narrative in just minutes. Do it your way.</p>
<div class="lb-trans"><p>如果你對數字有不同的看法，或者想自己進行假設壓力測試，你可以在幾分鐘內構建一個新的敍述。按照你的方式進行。</p>
</div><p>A great starting point for your Donnelley Financial Solutions research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>進行 Donnelley Financial Solutions 研究的一個很好的起點是我們的分析，強調 3 個關鍵收益和 2 個重要警示信號，這些可能會影響你的投資決策。</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>Before you move on, lock in a stronger watchlist by targeting fresh opportunities that match your style, so you are not leaving potential returns on the table.</p>
<div class="lb-trans"><p>在你繼續之前，通過鎖定符合你風格的新機會來建立更強的觀察名單，以免錯失潛在收益。</p>
</div><ul>
<li>Capture mispriced potential by scanning these 902 undervalued stocks based on cash flows that the market may be overlooking despite solid fundamentals.</li>
<li>Ride structural tailwinds in medicine and automation with these 30 healthcare AI stocks reshaping how care is delivered and analyzed.</li>
<li>Boost your income focus by targeting these 15 dividend stocks with yields &gt; 3% offering attractive yields backed by established businesses.</li>
</ul>
<div class="lb-trans"><ul>
<li>通過掃描這些 902 只被低估的股票，捕捉被市場忽視的潛在價值，儘管它們的基本面穩健。</li>
<li>利用這些 30 只重塑醫療和自動化的醫療 AI 股票，順應結構性順風，改變護理的交付和分析方式。</li>
<li>通過鎖定這些 15 只收益率超過 3% 的股息股票，提升你的收入關注，這些股票由成熟企業支持，提供有吸引力的收益。</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，我們的文章並不旨在提供財務建議。</strong> 這並不構成買入或賣出任何股票的推薦，也未考慮你的目標或財務狀況。我們的目標是為你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 對提到的任何股票沒有持倉。</em></p>
</div>

隨着軟件轉型和保留問題的加劇，重新評估 Donnelley Financial Solutions (DFIN) 的估值