LYFT在5.5倍自由现金流水平上被低估，且具备整合自动驾驶需求的良好条件，提供长期上行空间。
逐段跳播
这四只股票是 Adobe、MGM Resorts、Dick Sporting Goods 和 Lyft。
Those four stocks are Adobe, MGM Resorts, Dick Sporting Goods, and Lyft.
最后，我最喜欢且最被忽视的股票之一，其市盈率仅为 2.5 倍。不要以滚动基础来看这个数字，因为其中包含一些一次性项目。更好的指标是约 9 倍的远期市盈率，或约 5.5 倍的远期自由现金流。
因此估值确实很好，而且看看过去 3 年约 15% 的复合年增长率。
And finally, finally, one of my favorite most overlooked stocks in the market is price to earnings multiple. Don't look at this one on a trailing basis just 2.5. There is some one-time items in there. better metric is a forward price earnings multiple of about nine or for forward price free cash flow of about five and a half. So really good valuation and look at this compound annual growth rate about 15% over the past 3 years.
市场担心的一点是，当更多自动驾驶汽车进入市场时，Lyft 可能会被冷落。我们今天看到任何证据了吗？我们看到 Whimo 或特斯拉在抢占市场份额吗？
And one of the things the market is worried about is that Lyft is going to be left out in the cold when more autonomous vehicles hit the market. Do we see any evidence of that today? Do we see Whimo taking market share or Tesla?
我们看到更多的总预订量。这将是衡量通过生态系统流动的美元数量的指标。另一件事是行程数量或乘客数量。这两项也在稳步增长。
We see more gross bookings. That's going to be an indicator of the number of dollars that's going through the ecosystem. And the other thing is the number of rides or the number of riders. Both of those things are increasing steadily as well.
因此，在滚动 12 个月的基础上，Lyft 已完成约 10 亿次行程。
So on a trailing 12-month basis, about a billion rides that Lyft has completed.
他们还在国际上进行了一些扩张，并且他们利用资产负债表上的现金来做到这一点。再次，这是另一家随着时间的推移慢慢回购一些股票的公司。让我们看看稀释后的流通股。如果我们按季度来看，自 2024 年底以来，这些数字已经开始略有下降。
They've also expanded a little bit internationally, and they're doing that with the cash that's on the balance sheet. Again, here's another one of these companies that slowly over time has been buying back a little bit of stock. Let's look at the diluted shares outstanding. And if we look at that on a quarterly basis, since the end of 2024, these numbers have started to go down a little bit.
因此，你不仅拥有核心业务的增长，还拥有流通股数量的减少。所以，这意味着长期每股收益将继续增加。我喜欢 Lyft 在市场中的定位的一点是，他们将能够成为需求聚合商之一。这将与 Uber 的地位非常相似，但规模不同，比 Uber 小，但他们可能能够与像 Whimo 这样的公司更好地合作，Whimo 是当今自动驾驶汽车市场的领导者。
So, not only do you have growth in the core business, you also have a decline in the number of shares outstanding. So, that should mean that long-term earnings per share is going to continue to increase. Now, the thing that I like about Lyft's position in the market is that they're going to be able to be one of those aggregators of demand. This is going to be a very similar position to Uber, but just a different scale, smaller player than Uber, but they're maybe going to be able to play a little bit nicer with a company like like Whimo, who is a leader in the market with autonomous vehicles today.
他们仍然与 Lyft 保持合作关系。看起来与 Uber 的合作关系正在破裂。因此，Lyft 将能够将这些车辆推向市场，为这些车辆提供需求。
They still have their partnership with Lyft. Things like it looks like things are breaking down with Uber. So, Lyft is going to be able to bring those vehicles to market, provide demand for those vehicles,
我认为 Lyft 投资者面临的最坏情况是他们干脆被收购。也许是 Whimo 收购他们，也许是 Zuks 和 Amazon 试图扩大该业务。有很多潜在的买家。
and I think the worst case scenario for investors in Lyft is they just simply get acquired. Maybe it's Whimo that acquires them. Maybe it's Zuks and Amazon as they try to scale that business. Lots of different potential buyers.
当你看到一家仅以 5.5 倍自由现金流交易的公司时，我认为随着自动驾驶汽车市场在未来 5 到 10 年扩大规模，这种价值股将被我们视为绝佳的买入机会。
When you're looking at a company that's only trading for five and a half times its free cash flow, I think this is the kind of value stock that we're going to look back on being a great buying opportunity as the autonomous vehicle market scales over the next 5 to 10 years.
这个频道对 $LYFT 的历次判断
Asymmetric Investing by Travis Hoium 在这只股票上共 2 条判断，这里只列相邻的几条。