Hims具有长期潜力，但近期财务状况疲弱；将其列入观察名单而非立即买入。
逐段跳播
但是，有一只我感兴趣想买入的股票，它就在我的观察名单上，那就是 Hims。Hims 的股票，明白吗？这是我可能想要建仓的一只股票，现在股价就在 30 美元多一点，对吧？而且我已经把它列入了我的买入观察名单，对吧？
But, there's is a stock that I've been interested in buying, and it's right on my watch list, and it is Hims. Hims stock, okay? This is one I've been interested in potentially starting a position, and it's 30, you know, just over $30 right now, right? And I got it on my stocks to buy watch list, right?
嗯，Hims 这里我们有点问题，明白吗？他们刚刚发布了最新的业绩。现在，营收看起来不错，增长了 38%。很棒。但这份报告有很多问题，明白吗？现在，其中一些问题与重组、GLP、摆脱复合药物有关。
比如，有各种各样的原因，但重点是，这是一份非常糟糕的报告，对吧？
Well, we have a little issue here with Hims, okay? They just came out with their latest results. Now, revenue looks good, 38% growth. Awesome. There's a lot of issues with this report, okay? Now, some of these issues have to do with restructuring, uh GLPs, moving away from compounds. Like, there's there's a whole host of reasons, but the moral of the story is here, this was a very ugly report, right?
除了营收这个亮眼数字（38%）之外，营收成本上升了 112%，导致毛利只增长了 16 个百分点，所以它的增长速度显然远低于营收的增长速度，对吧？因此，毛利率从 76% 下降到了 64%。
Other than the great number was revenue, 38%, but cost of revenue rose 112%, which the gross profit then was only up 16 percentage points, so it grew at, you know, way less of a fast number than obviously revenue grew at, right? So, gross margin went down to 64% from 76%.
营销实际上是公司的一个亮点。它只增长了 20%，而营收增长了 38%。问题更多在这里。运营和支持增长了 44%。请记住，毛利只增长了 16%，而运营和支持增长了 44%，这甚至比营收的增长速度还要快。
技术和发展增长了 45%，所以相对于毛利来说增长了一大截，而且比营收增长得多得多。
Marketing was actually a bright spot for the company. That was only up 20 20% while revenue was up 38%. The issue is more here. Operations and support grew 44%. Keep in mind, gross profit was only up 16%, and operations and support was up 44%, which is still a faster number than even revenue was up. Technology and development up 45%, so that's up a mile and a half versus gross profit, and much more than revenue.
我们还有 G&A，一般行政费用同比增长了 146%。所以，总运营费用增长了 48%。这是一个糟糕的数字，尤其是当你考虑到毛利只增长了 16% 时。你不能在毛利增长 16% 的情况下让运营费用增长 48%。
而你的营收，我们说的是 1000 个基点的差距，相对于营收是 10 倍的百分点。营收增长 38%，而总运营费用增长 48%。这很糟糕。
Uh we also had G&A, general administrative was up 146% year over year. So, total operating expenses up 48%. That's an ugly number, especially when you account for gross profit only being up 16%. You can't have your operating expenses grow 48% when your when your gross profit's up 16%. And your revenue, you know, we're talking about 1,000 basis points of difference there, 10-fold percentage points versus revenue. Revenue 38% versus total operating expenses 48%. It's ugly.
所以，他们从运营收入数千万美元的情况，变成了本季度运营亏损近 1 亿美元。糟糕。然后他们每股亏损 37 美分，而之前是每股盈利 19 美分，对吧？显然，你知道，他们对此有借口，比如重组和我们之前提到的所有其他事情，但重点是，这足以给 F+ 评级。
对 Hims 来说，这是一份非常糟糕的利润表，对吧？
So, they went from a situation where they, you know, had income from operations of tens of millions of dollars to they had almost a $100 million loss from operations in the quarter. Ugly. And then they lost 37 cents a share versus 19 cents a gain, right? And obviously, you know, they had their excuses for this around restructuring and all the other things we went through, but the moral of the story is it was enough F plus grade. It was very ugly income statement for Hims, right?
所以，我对 Hims 的看法是，是的，它是一家令人兴奋的公司。它有巨大的长期潜力，对吧？他们看起来最适合做远程医疗，对吧？但我有兴趣最终可能在这里建仓，对吧？但我遇到的问题和整个公司的估值大约在 70 亿美元左右。
他们资产负债表上也有很多现金。我上次查的时候，我记得现金超过 6 亿美元，对吧？所以，我最终可能会开始买入，但我有一个问题，明白吗？
And so, my thing with Hims is yes, it's an exciting company. It has a big long-term potential, right? They look the most prime for telehealth in general, right? But I'm interested in potentially starting a position eventually here, right? But the issue I have and the whole the whole company sells for right around $7 billion. They have a lot of cash on the balance sheet as well. Last time I checked, I think it was over $600 million of cash, right? So, I might eventually start buying this, but I have an issue, okay?
所以，如果我放眼望去，我想我可以买 Hims，或者我可以直接买更多的 Netflix 股票。我可以买 Hims，或者我可以买另一只非常容易赚钱的股票，美国运通。
And so, if I look out there, I'm like I could buy Hims or I could just buy more Netflix stock. I could buy Hims or I could another very easy money stock, American Express.
我不能自信地说，未来 5 年 Hims 的上行潜力比 Celsius 更大。
I cannot confidently say that Hims has more upside potential over the next 5 years than Celsius.
Hims 可能，但我不能说我对 Hims 的信心比对 Celsius 的信心更足。而且我非常了解能量饮料行业，因为我曾经投资过 Monster，当时它还叫 Hansen's Natural Beverage。
Hims might, but I I can't say I'm more confident in Hims than I'm confident Celsius. And I know the energy drink industry very well from my days of being invested in Monster back when it was Hansen's Natural Beverage.
而且，你知道，显然 Hims 所在的行业相对较新，对吧？就他们的商业模式而言。所以目前，我会把 Hims 保留在我的可能买入观察名单上。我最终可能会在这里建仓，但这很难，伙计。
And, you know, obviously the industry Hims is in is very relatively new, right? When it comes to the way they do business. So for now I'm keeping Hims on my possible buys watch list. I might eventually start a position here, but it's tough, man.
这个频道对 $HIMS 的历次判断
Financial Education 在这只股票上共 2 条判断，这里只列相邻的几条。