<ul>
<li>想知道 Hims &amp; Hers Health 在大幅上漲後是否仍然是一個明智的投資，或者説輕鬆賺錢的機會是否已經過去？你並不孤單，本文將詳細分析當前價格實際上反映了什麼。</li>
<li>儘管最近一週回調約 5.1%，過去一個月回調 4.6%，但該股票年初至今仍上漲 47.7%，三年內更是大幅上漲 450.4%。這表明市場已經大幅調整了其預期。</li>
<li>這種信心的激增得益於公司在遠程醫療訂閲、名人合作以及在體重管理和脱髮等領域的高調產品發佈方面的關注，所有這些都旨在建立一個粘性強的直接面向消費者的品牌。同時，媒體對數字健康監管的關注增加，以及來自大型平台的競爭，提醒投資者快速增長伴隨着真正的執行風險。</li>
<li>根據我們的框架，Hims &amp; Hers Health 在低估檢查中目前僅得 2 分（滿分 6 分），因此市場遠未將其視為一個絕對的便宜貨。然而，使用倍數、現金流模型或增長調整指標時，情況看起來截然不同。我們將逐一分析這些內容，最後以一種更直觀的方式思考估值，超越單純的數字。</li>
</ul>
<p>Hims &amp; Hers Health 在我們的估值檢查中僅得 2/6 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：Hims &amp; Hers Health 折現現金流（DCF）分析</h3>
<p>折現現金流（DCF）模型通過預測公司未來能夠產生的現金流並將這些現金流折現回今天，來估算公司的價值。在這種情況下，2 階段自由現金流到股權模型以 Hims &amp; Hers Health 最近 12 個月的自由現金流約為 1.894 億美元為起點，然後疊加分析師的預測和長期增長假設。</p>
<p>分析師目前預計自由現金流到 2029 年將上升至約 4.067 億美元，Simply Wall St 將未來幾年外推至 2035 年，隨着早期增長率逐漸放緩，進入更成熟的階段。所有數字均以美元計，並且仍遠低於十億美元的標誌，因此這裏的故事是關於中型現金流的複合增長，而不是巨型市值的規模。</p>
<p>將這些預測匯總，模型得出的內在價值約為每股 58.00 美元，意味着該股票的交易價格比其估計的公允價值低 35.8%，因此在這個框架下被視為顯著低估。</p>
<p><strong>結果：低估</strong></p>
<p>我們的折現現金流（DCF）分析表明 Hims &amp; Hers Health 被低估了 35.8%。將其添加到你的觀察列表或投資組合中，或發現基於現金流的 907 只其他被低估的股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/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/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/dcf"/></p>
<p>截至 2025 年 12 月的 HIMS 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 Hims &amp; Hers Health 的公允價值的更多細節。</p>
<h3>方法 2：Hims &amp; Hers Health 市盈率</h3>
<p>對於已經盈利的公司，市盈率（P/E）是評估價值的有用方式，因為它將投資者支付的價格直接與公司當前產生的利潤聯繫起來。一般來説，較快的增長和較低的風險感知可以支持更高的市盈率，而較慢的增長或更高的不確定性通常需要更温和的倍數。</p>
<p>Hims &amp; Hers Health 當前的市盈率約為 63.31 倍，遠高於大健康行業平均的約 23.72 倍和其同行組的平均約 31.62 倍。乍一看，這種溢價似乎有些過高。然而，Simply Wall St 的專有公允比率框架根據公司的盈利增長前景、盈利能力、行業、市值和風險因素，估算出更合適的市盈率約為 42.01 倍。</p>
<p>這種公允比率方法比簡單的同行或行業比較更具針對性，因為它明確考慮了 Hims &amp; Hers 預計的增長速度以及這種增長可能的風險。將當前的 63.31 倍與 42.01 倍的公允比率進行比較，表明該股票的定價反映了比基本面所支持的更多的樂觀情緒。</p>
<p><strong>結果：高估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/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/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NYSE:HIMS 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 1448 家內部人士正在大舉押注於爆炸性增長的公司。</p>
<h3>升級你的決策：選擇你的 Hims &amp; Hers Health 故事</h3>
<p>之前我們提到有一種更好的方式來理解估值，因此讓我們向你介紹 Narratives，這是一種將你對 Hims &amp; Hers Health 故事的看法與未來收入、利潤率和公允價值估算等一組數字連接起來的簡單方法，然後看看這與當前股價的對比。</p>
<p>在 Simply Wall St 的社區頁面上，Narratives 讓數百萬投資者將他們的研究轉化為結構化的預測。這意味着你可以快速看到一個特定的故事情節，例如 Hims &amp; Hers 成為領先的個性化健康平台，公允價值接近每股 114 美元，與更謹慎的觀點相比，後者認為其公允價值接近每股 44 美元，基於較慢的增長和更緊的利潤率。</p>
<p>每個 Narrative 將一個明確的論點與財務模型和公允價值鏈接在一起。它會隨着新的收益、新聞和監管動態的到來而動態更新。這使得通過直接比較 Hims &amp; Hers Health 不斷變化的公允價值與今天的市場價格，更容易決定它是否看起來適合買入、持有或賣出。</p>
<p>你認為 Hims &amp; Hers Health 的故事還有更多內容嗎？前往我們的社區，看看其他人怎麼説！</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/quote-price?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1510" height="1044" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/quote-price"/></p>
<p>NYSE:HIMS 1 年股票價格走勢圖</p>
<p><em>這篇來自 Simply Wall St 的文章具有一般性。<strong>我們僅基於歷史數據和分析師預測提供評論，採用無偏見的方法，我們的文章並不旨在提供財務建議。</strong> 它不構成買賣任何股票的推薦，也不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均沒有持倉。</em></p>
<p>國防與災難的移動基礎設施</p>
<p>下一波機器人技術不是類人型的。它是完全自主的塔樓，在 30 分鐘內提供 5G、ISR 和雷達服務，覆蓋任何地方。</p>
<p>在下一輪合同之前獲取投資者簡報</p>
<p>代表 CiTech 贊助</p>

HIMS

<p>Hims & Hers Health 在三年內上漲了 450.4%，得益於遠程醫療的擴展和高調的產品發佈。儘管近期有所回調，該股票年初至今上漲了 47.7%。該公司的低估值檢查得分為 2/6。現金流折現分析表明該股票被低估了 35.8%，而市盈率分析則顯示其被高估。文章探討了不同的估值方法，並強調了投資者面臨的風險和機會</p>

<ul>
<li>Wondering if Hims &amp; Hers Health is still a smart buy after its big run, or if the easy money has already been made? You are not alone, and this article is going to unpack exactly what the current price is really baking in.</li>
<li>Even after a recent pullback of around 5.1% over the last week and 4.6% over the past month, the stock is still up 47.7% year to date and a massive 450.4% over three years. This tells you the market has already rewritten its expectations in a big way.</li>
<li>That surge in confidence has been fueled by growing attention on the company’s push into telehealth subscriptions, celebrity partnerships, and high profile category launches in areas like weight management and hair loss, all aimed at building a sticky, direct to consumer brand. At the same time, increased media focus on digital health regulation and competition from larger platforms has reminded investors that rapid growth comes with real execution risk.</li>
<li>On our framework, Hims &amp; Hers Health currently scores just 2 out of 6 on undervaluation checks, so the market is far from calling it a screaming bargain. However, the picture looks very different depending on whether you use multiples, cash flow models, or growth adjusted metrics. We will walk through those, then finish with a more intuitive way to think about valuation that goes beyond the numbers alone.</li>
</ul>
<div class="lb-trans"><ul>
<li>想知道 Hims &amp; Hers Health 在大幅上漲後是否仍然是一個明智的投資，或者説輕鬆賺錢的機會是否已經過去？你並不孤單，本文將詳細分析當前價格實際上反映了什麼。</li>
<li>儘管最近一週回調約 5.1%，過去一個月回調 4.6%，但該股票年初至今仍上漲 47.7%，三年內更是大幅上漲 450.4%。這表明市場已經大幅調整了其預期。</li>
<li>這種信心的激增得益於公司在遠程醫療訂閲、名人合作以及在體重管理和脱髮等領域的高調產品發佈方面的關注，所有這些都旨在建立一個粘性強的直接面向消費者的品牌。同時，媒體對數字健康監管的關注增加，以及來自大型平台的競爭，提醒投資者快速增長伴隨着真正的執行風險。</li>
<li>根據我們的框架，Hims &amp; Hers Health 在低估檢查中目前僅得 2 分（滿分 6 分），因此市場遠未將其視為一個絕對的便宜貨。然而，使用倍數、現金流模型或增長調整指標時，情況看起來截然不同。我們將逐一分析這些內容，最後以一種更直觀的方式思考估值，超越單純的數字。</li>
</ul>
</div><p>Hims &amp; Hers Health scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.</p>
<div class="lb-trans"><p>Hims &amp; Hers Health 在我們的估值檢查中僅得 2/6 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: Hims &amp; Hers Health Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法 1：Hims &amp; Hers Health 折現現金流（DCF）分析</h3>
</div><p>A Discounted Cash Flow, or DCF, model estimates what a company is worth by projecting the cash it can generate in the future and discounting those dollars back to today. In this case, the 2 Stage Free Cash Flow to Equity model starts with Hims &amp; Hers Health’s last twelve month free cash flow of about $189.4 million and then layers on analyst forecasts and longer term growth assumptions.</p>
<div class="lb-trans"><p>折現現金流（DCF）模型通過預測公司未來能夠產生的現金流並將這些現金流折現回今天，來估算公司的價值。在這種情況下，2 階段自由現金流到股權模型以 Hims &amp; Hers Health 最近 12 個月的自由現金流約為 1.894 億美元為起點，然後疊加分析師的預測和長期增長假設。</p>
</div><p>Analysts currently project free cash flow rising to roughly $406.7 million by 2029, with Simply Wall St extrapolating the following years out to 2035 as growth gradually slows from higher early rates into more mature territory. All figures are in $ and remain well below the billion mark, so the story here is about compounding medium sized cash flows rather than mega cap scale.</p>
<div class="lb-trans"><p>分析師目前預計自由現金流到 2029 年將上升至約 4.067 億美元，Simply Wall St 將未來幾年外推至 2035 年，隨着早期增長率逐漸放緩，進入更成熟的階段。所有數字均以美元計，並且仍遠低於十億美元的標誌，因此這裏的故事是關於中型現金流的複合增長，而不是巨型市值的規模。</p>
</div><p>Rolling those projections together, the model arrives at an intrinsic value of about $58.00 per share, implying the stock is trading at a 35.8% discount to its estimated fair value and therefore screens as meaningfully undervalued on this framework.</p>
<div class="lb-trans"><p>將這些預測匯總，模型得出的內在價值約為每股 58.00 美元，意味着該股票的交易價格比其估計的公允價值低 35.8%，因此在這個框架下被視為顯著低估。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>結果：低估</strong></p>
</div><p>Our Discounted Cash Flow (DCF) analysis suggests Hims &amp; Hers Health is undervalued by 35.8%. Track this in your watchlist or portfolio, or discover 907 more undervalued stocks based on cash flows.</p>
<div class="lb-trans"><p>我們的折現現金流（DCF）分析表明 Hims &amp; Hers Health 被低估了 35.8%。將其添加到你的觀察列表或投資組合中，或發現基於現金流的 907 只其他被低估的股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/dcf" alt="" original-src="https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/dcf"/></p>
<p>HIMS Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 HIMS 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 Hims &amp; Hers Health.</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 Hims &amp; Hers Health 的公允價值的更多細節。</p>
</div><h3>Approach 2: Hims &amp; Hers Health Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：Hims &amp; Hers Health 市盈率</h3>
</div><p>For companies that are already profitable, the price to earnings, or P E, ratio is a useful way to judge value because it links what investors pay directly to the profits the business is generating today. In general, faster growth and lower perceived risk justify a higher P E, while slower growth or higher uncertainty usually call for a more modest multiple.</p>
<div class="lb-trans"><p>對於已經盈利的公司，市盈率（P/E）是評估價值的有用方式，因為它將投資者支付的價格直接與公司當前產生的利潤聯繫起來。一般來説，較快的增長和較低的風險感知可以支持更高的市盈率，而較慢的增長或更高的不確定性通常需要更温和的倍數。</p>
</div><p>Hims &amp; Hers Health currently trades on a P E of about 63.31x, which is well above both the broader Healthcare industry average of roughly 23.72x and its peer group average of around 31.62x. At first glance, that kind of premium might look stretched. However, Simply Wall St’s proprietary Fair Ratio framework estimates a more appropriate P E of about 42.01x, based on the company’s earnings growth outlook, profitability profile, industry, market cap and risk factors.</p>
<div class="lb-trans"><p>Hims &amp; Hers Health 當前的市盈率約為 63.31 倍，遠高於大健康行業平均的約 23.72 倍和其同行組的平均約 31.62 倍。乍一看，這種溢價似乎有些過高。然而，Simply Wall St 的專有公允比率框架根據公司的盈利增長前景、盈利能力、行業、市值和風險因素，估算出更合適的市盈率約為 42.01 倍。</p>
</div><p>This Fair Ratio approach is more tailored than simple peer or industry comparisons because it explicitly bakes in how quickly Hims &amp; Hers is expected to grow and how risky that growth might be. Comparing the current 63.31x to the 42.01x Fair Ratio suggests the shares are pricing in more optimism than the fundamentals alone support.</p>
<div class="lb-trans"><p>這種公允比率方法比簡單的同行或行業比較更具針對性，因為它明確考慮了 Hims &amp; Hers 預計的增長速度以及這種增長可能的風險。將當前的 63.31 倍與 42.01 倍的公允比率進行比較，表明該股票的定價反映了比基本面所支持的更多的樂觀情緒。</p>
</div><p><strong>Result: OVERVALUED</strong></p>
<div class="lb-trans"><p><strong>結果：高估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:HIMS PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NYSE:HIMS 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1448 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 1448 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 Hims &amp; Hers Health Narrative</h3>
<div class="lb-trans"><h3>升級你的決策：選擇你的 Hims &amp; Hers Health 故事</h3>
</div><p>Earlier we mentioned that there is an even better way to understand valuation, so let us introduce you to Narratives, a simple way to connect your view of Hims &amp; Hers Health’s story with a set of numbers like future revenue, margins and a fair value estimate, then see how that stacks up against the current share price.</p>
<div class="lb-trans"><p>之前我們提到有一種更好的方式來理解估值，因此讓我們向你介紹 Narratives，這是一種將你對 Hims &amp; Hers Health 故事的看法與未來收入、利潤率和公允價值估算等一組數字連接起來的簡單方法，然後看看這與當前股價的對比。</p>
</div><p>On Simply Wall St’s Community page, Narratives let millions of investors turn their research into a structured forecast. This means you can quickly see how a particular storyline, for example Hims &amp; Hers becoming the leading personalised health platform with a fair value near $114 per share, compares with a more cautious view that sees it as fairly valued closer to $44 per share based on slower growth and tighter margins.</p>
<div class="lb-trans"><p>在 Simply Wall St 的社區頁面上，Narratives 讓數百萬投資者將他們的研究轉化為結構化的預測。這意味着你可以快速看到一個特定的故事情節，例如 Hims &amp; Hers 成為領先的個性化健康平台，公允價值接近每股 114 美元，與更謹慎的觀點相比，後者認為其公允價值接近每股 44 美元，基於較慢的增長和更緊的利潤率。</p>
</div><p>Each Narrative links a clear thesis to a financial model and a fair value. It updates dynamically as new earnings, news and regulatory developments come in. This makes it easier to decide whether Hims &amp; Hers Health looks like a buy, hold or sell for you by directly comparing its evolving Fair Value to today’s market Price.</p>
<div class="lb-trans"><p>每個 Narrative 將一個明確的論點與財務模型和公允價值鏈接在一起。它會隨着新的收益、新聞和監管動態的到來而動態更新。這使得通過直接比較 Hims &amp; Hers Health 不斷變化的公允價值與今天的市場價格，更容易決定它是否看起來適合買入、持有或賣出。</p>
</div><p>Do you think there's more to the story for Hims &amp; Hers Health? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>你認為 Hims &amp; Hers Health 的故事還有更多內容嗎？前往我們的社區，看看其他人怎麼説！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/quote-price" alt="" original-src="https://images.simplywall.st/company/3563c40b-80d6-4398-bdb7-5a819df2e0aa/chart/quote-price"/></p>
<p>NYSE:HIMS 1-Year Stock Price Chart</p>
<div class="lb-trans"><p>NYSE:HIMS 1 年股票價格走勢圖</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>這篇來自 Simply Wall St 的文章具有一般性。<strong>我們僅基於歷史數據和分析師預測提供評論，採用無偏見的方法，我們的文章並不旨在提供財務建議。</strong> 它不構成買賣任何股票的推薦，也不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均沒有持倉。</em></p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>國防與災難的移動基礎設施</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波機器人技術不是類人型的。它是完全自主的塔樓，在 30 分鐘內提供 5G、ISR 和雷達服務，覆蓋任何地方。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一輪合同之前獲取投資者簡報</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>代表 CiTech 贊助</p>
</div>

Hims & Hers Health 在經歷了 450% 的股價飆升以及遠程醫療業務擴展後，是否仍然具有投資吸引力？