ServiceNow存在利润率担忧，因为订阅成本增长相对于收入较高；投资者在利润率复苏得到证实之前更偏好Salesforce。
逐段跳播
我认为ServiceNow就像Salesforce。我更喜欢Salesforce一点。因为，你知道，我们看到的他们利润率的一些转变与ServiceNow相比。但我不认为ServiceNow不好。
I think Service Now is a like Salesforce. I like Salesforce a little bit better. Uh, because it, you know, some of the transitions we've seen in their margins compared to Service Now. But I don't think Service Now is bad.
所以，ServiceNow，让我们把它们扔到这里。我给它们的公允价值是，虽然让我看看我给它们的增长率。我给它们的平均增长率是21%。这是合理的，但我只有为什么我只有我有个14的市盈率与增长比率。
那很低。让我看看为什么。那一定是一个利润率的故事。
So, Service Now, let's go throw them in here. I've got them at a fair value, although let me see what growth rate I have for them. I've got um average growth rate of 21%. That's reasonable, but I only have Why do I only have um I had a 14 peg. That's low. Let me see why. That's got to be a margin story.
那么，利润率是怎么回事？所以，24%的增长。哦，是的。就是这样。那是利润率问题。那是我对ServiceNow的问题。收入增长24%，而订阅成本上涨64%。我认为这是因为代币成本，如果我没记错的话。所以，那是我对它们的问题之一。
So, what's going on with the margins? So, 24% growth. Oh, yeah. That's what it is. It was the margin problem. That was my problem with Service Now. 24% growth on revenues while subscription costs are up 64%. I think that's because of the token costs if I remember correctly. So, that was one of the issues I had with them.
资产负债表我说过。不是很好，也不是很糟糕。所以，有点像黄旗。他们仍然在这里进行现金股票回购。看，这就是变化。他们说随着超大规模厂商成本下降，利润率应该会好转。然后我写道，注意他们不是说我们能够收取更多费用。
所以这就是我们与课程成员分析的内容，当我们偏好Salesforce时，这就是理由，对吧？所以我总是喜欢说，你知道，我不是想贬低任何人的股票，只是试图建议对我来说，那仍然是我希望看到更好地发挥作用的东西。
Balance sheet I called. Not great, not terrible. So, kind of a yellow flag. They're still doing cash uh stock buybacks here. See, this is the the change. They're saying margin should get better as hyperscaler costs go down. And then I wrote, notice they're not saying that we're able to charge more. So that's what what we analyzed uh with course members when we had a preference for uh Salesforce that was the rationale for that right so I always like saying you know I'm not trying to bag on anybody's stock just trying to suggest for me that was still something I wanted to see play out a little better
他说在等什么
这个频道对 $NOW 的历次判断
Meet Kevin 在这只股票上共 3 条判断，这里只列相邻的几条。