<p><strong>Bitfarms Ltd.</strong> (TSE:BITF) 的股票在過去一個月表現糟糕，損失了 25%，而之前的表現相對較好。不過，糟糕的一個月並沒有完全毀掉過去一年，股票仍然上漲了 56%，即使在牛市中也算不錯。</p>
<p>儘管其價格大幅下跌，但 Bitfarms 的市銷率（&#34;P/S&#34;）為 5.8 倍，與加拿大更廣泛的軟件行業相比，可能仍然顯得像是一個賣出信號，因為大約一半的公司市銷率低於 3.9 倍，甚至低於 1.5 倍的情況也相當普遍。不過，僅僅根據市銷率來判斷並不明智，因為可能有解釋其如此之高的原因。</p>
<p>特朗普承諾要&#34;釋放&#34;美國的石油和天然氣，這 15 只美國股票的發展將受益。</p>
<p>查看我們對 Bitfarms 的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/546692373-ps-multiple-vs-industry-1-dark-2/1766926219862?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/asset/chart/546692373-ps-multiple-vs-industry-1-dark-2/1766926219862"/></p>
<p>TSX:BITF 市銷率與行業對比 2025 年 12 月 28 日</p>
<h3>Bitfarms 的市銷率對股東意味着什麼？</h3>
<p>最近的時光對 Bitfarms 來説是有利的，因為其收入增長速度超過了大多數其他公司。市場似乎預期這種形式將持續到未來，因此市銷率較高。如果不是，那麼現有股東可能會對股價的可行性感到有些緊張。</p>
<p>如果您想了解分析師對未來的預測，您應該查看我們關於 Bitfarms 的 <strong>免費</strong> 報告。</p>
<h2>收入增長指標告訴我們關於高市銷率的什麼？</h2>
<p>為了證明其市銷率的合理性，Bitfarms 需要實現超過行業的顯著增長。</p>
<p>回顧過去一年，公司收入實現了 95% 的驚人增長。最近三年期間，收入也實現了 58% 的整體增長，這得益於其短期表現。因此，我們可以首先確認公司在這段時間內在收入增長方面做得非常出色。</p>
<p>展望未來，七位分析師預計收入將在未來一年內下降 3.4%。當行業其他部分預計增長 34% 時，這並不好。</p>
<p>考慮到這一點，我們發現 Bitfarms 的市銷率與其行業同行密切匹配令人感興趣。似乎大多數投資者希望公司的商業前景會有所好轉，但分析師羣體對此並不太有信心。如果市銷率降到與負增長前景更為一致的水平，這些股東很有可能會面臨未來的失望。</p>
<h2>關鍵要點</h2>
<p>儘管最近股價的表現不能與之相提並論，Bitfarms 的市銷率仍然保持在較高水平。僅僅使用市銷率來判斷是否應該出售股票並不明智，但它可以作為公司未來前景的實用指南。</p>
<p>我們對 Bitfarms 分析師預測的審查顯示，其收入前景的縮減並沒有像我們預期的那樣大幅拉低其高市銷率。在這種情況下，我們懷疑股價有跟隨下跌的風險，從而使高市銷率迴歸到合理範圍。這使得股東的投資面臨重大風險，潛在投資者也可能面臨支付過高溢價的危險。</p>
<p>在您採取下一步之前，您應該瞭解我們發現的 <strong>Bitfarms 的 3 個警告信號</strong>（其中 1 個令人擔憂！）。</p>
<p>如果您對 Bitfarms 的業務實力 <strong>不確定</strong>，為什麼不探索我們互動的股票列表，尋找一些您可能錯過的基本面良好的其他公司呢？</p>
<p>國防和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，在 30 分鐘內提供 5G、ISR 和雷達，隨處可用。</p>
<p>在下一輪合同之前獲取投資者簡報</p>
<p>由 CiTech 贊助</p>

BITF

<p>Bitfarms Ltd.（多倫多證券交易所代碼：BITF）的股價最近下跌了 25%，儘管過去一年上漲了 56%。其市銷率為 5.8 倍，相較於許多市銷率較低的加拿大軟件行業而言偏高。儘管收入增長強勁，但分析師預測明年將下降 3.4%，而行業則預計增長 34%。如果市銷率與負增長預期相符，投資者可能會面臨失望，這對股東投資構成風險</p>

<p><strong>Bitfarms Ltd.</strong> (TSE:BITF) shares have had a horrible month, losing 25% after a relatively good period beforehand. Still, a bad month hasn't completely ruined the past year with the stock gaining 56%, which is great even in a bull market.</p>
<div class="lb-trans"><p><strong>Bitfarms Ltd.</strong> (TSE:BITF) 的股票在過去一個月表現糟糕，損失了 25%，而之前的表現相對較好。不過，糟糕的一個月並沒有完全毀掉過去一年，股票仍然上漲了 56%，即使在牛市中也算不錯。</p>
</div><p>Although its price has dipped substantially, Bitfarms' price-to-sales (or &#34;P/S&#34;) ratio of 5.8x might still make it look like a sell right now compared to the wider Software industry in Canada, where around half of the companies have P/S ratios below 3.9x and even P/S below 1.5x are quite common. Although, it's not wise to just take the P/S at face value as there may be an explanation why it's as high as it is.</p>
<div class="lb-trans"><p>儘管其價格大幅下跌，但 Bitfarms 的市銷率（&#34;P/S&#34;）為 5.8 倍，與加拿大更廣泛的軟件行業相比，可能仍然顯得像是一個賣出信號，因為大約一半的公司市銷率低於 3.9 倍，甚至低於 1.5 倍的情況也相當普遍。不過，僅僅根據市銷率來判斷並不明智，因為可能有解釋其如此之高的原因。</p>
</div><p>Trump has pledged to &#34;unleash&#34; American oil and gas and these 15 US stocks have developments that are poised to benefit.</p>
<div class="lb-trans"><p>特朗普承諾要&#34;釋放&#34;美國的石油和天然氣，這 15 只美國股票的發展將受益。</p>
</div><p>See our latest analysis for Bitfarms</p>
<div class="lb-trans"><p>查看我們對 Bitfarms 的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/546692373-ps-multiple-vs-industry-1-dark-2/1766926219862" alt="" original-src="https://images.simplywall.st/asset/chart/546692373-ps-multiple-vs-industry-1-dark-2/1766926219862"/></p>
<p>TSX:BITF Price to Sales Ratio vs Industry December 28th 2025</p>
<div class="lb-trans"><p>TSX:BITF 市銷率與行業對比 2025 年 12 月 28 日</p>
</div><h3>What Does Bitfarms' P/S Mean For Shareholders?</h3>
<div class="lb-trans"><h3>Bitfarms 的市銷率對股東意味着什麼？</h3>
</div><p>Recent times have been advantageous for Bitfarms as its revenues have been rising faster than most other companies. It seems the market expects this form will continue into the future, hence the elevated P/S ratio. If not, then existing shareholders might be a little nervous about the viability of the share price.</p>
<div class="lb-trans"><p>最近的時光對 Bitfarms 來説是有利的，因為其收入增長速度超過了大多數其他公司。市場似乎預期這種形式將持續到未來，因此市銷率較高。如果不是，那麼現有股東可能會對股價的可行性感到有些緊張。</p>
</div><p>If you'd like to see what analysts are forecasting going forward, you should check out our <strong>free</strong> report on Bitfarms.</p>
<div class="lb-trans"><p>如果您想了解分析師對未來的預測，您應該查看我們關於 Bitfarms 的 <strong>免費</strong> 報告。</p>
</div><h2>What Are Revenue Growth Metrics Telling Us About The High P/S?</h2>
<div class="lb-trans"><h2>收入增長指標告訴我們關於高市銷率的什麼？</h2>
</div><p>In order to justify its P/S ratio, Bitfarms would need to produce impressive growth in excess of the industry.</p>
<div class="lb-trans"><p>為了證明其市銷率的合理性，Bitfarms 需要實現超過行業的顯著增長。</p>
</div><p>Retrospectively, the last year delivered an exceptional 95% gain to the company's top line. The latest three year period has also seen an excellent 58% overall rise in revenue, aided by its short-term performance. So we can start by confirming that the company has done a great job of growing revenue over that time.</p>
<div class="lb-trans"><p>回顧過去一年，公司收入實現了 95% 的驚人增長。最近三年期間，收入也實現了 58% 的整體增長，這得益於其短期表現。因此，我們可以首先確認公司在這段時間內在收入增長方面做得非常出色。</p>
</div><p>Looking ahead now, revenue is anticipated to slump, contracting by 3.4% during the coming year according to the seven analysts following the company. That's not great when the rest of the industry is expected to grow by 34%.</p>
<div class="lb-trans"><p>展望未來，七位分析師預計收入將在未來一年內下降 3.4%。當行業其他部分預計增長 34% 時，這並不好。</p>
</div><p>With this in mind, we find it intriguing that Bitfarms' P/S is closely matching its industry peers. It seems most investors are hoping for a turnaround in the company's business prospects, but the analyst cohort is not so confident this will happen. There's a very good chance these shareholders are setting themselves up for future disappointment if the P/S falls to levels more in line with the negative growth outlook.</p>
<div class="lb-trans"><p>考慮到這一點，我們發現 Bitfarms 的市銷率與其行業同行密切匹配令人感興趣。似乎大多數投資者希望公司的商業前景會有所好轉，但分析師羣體對此並不太有信心。如果市銷率降到與負增長前景更為一致的水平，這些股東很有可能會面臨未來的失望。</p>
</div><h2>The Key Takeaway</h2>
<div class="lb-trans"><h2>關鍵要點</h2>
</div><p>There's still some elevation in Bitfarms' P/S, even if the same can't be said for its share price recently. Using the price-to-sales ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.</p>
<div class="lb-trans"><p>儘管最近股價的表現不能與之相提並論，Bitfarms 的市銷率仍然保持在較高水平。僅僅使用市銷率來判斷是否應該出售股票並不明智，但它可以作為公司未來前景的實用指南。</p>
</div><p>Our examination of Bitfarms' analyst forecasts revealed that its shrinking revenue outlook isn't drawing down its high P/S anywhere near as much as we would have predicted. In cases like this where we see revenue decline on the horizon, we suspect the share price is at risk of following suit, bringing back the high P/S into the realms of suitability. This places shareholders' investments at significant risk and potential investors in danger of paying an excessive premium.</p>
<div class="lb-trans"><p>我們對 Bitfarms 分析師預測的審查顯示，其收入前景的縮減並沒有像我們預期的那樣大幅拉低其高市銷率。在這種情況下，我們懷疑股價有跟隨下跌的風險，從而使高市銷率迴歸到合理範圍。這使得股東的投資面臨重大風險，潛在投資者也可能面臨支付過高溢價的危險。</p>
</div><p>Before you take the next step, you should know about the <strong>3 warning signs for Bitfarms</strong> (1 is concerning!) that we have uncovered.</p>
<div class="lb-trans"><p>在您採取下一步之前，您應該瞭解我們發現的 <strong>Bitfarms 的 3 個警告信號</strong>（其中 1 個令人擔憂！）。</p>
</div><p>If you're <strong>unsure about the strength of Bitfarms' business</strong>, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.</p>
<div class="lb-trans"><p>如果您對 Bitfarms 的業務實力 <strong>不確定</strong>，為什麼不探索我們互動的股票列表，尋找一些您可能錯過的基本面良好的其他公司呢？</p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>國防和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，在 30 分鐘內提供 5G、ISR 和雷達，隨處可用。</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>由 CiTech 贊助</p>
</div>

Bitfarms Ltd.（TSE:BITF）股價下跌 25%，仍然讓一些股東對其市銷率感到不安