NICE Ltd (NICE)
被低估基本面
81
价格
$114.43
市值
$6.64B
第一部分 · 这家公司值多少
概览
NICE, an Israeli company listed in the US, sells cloud software to two very different kinds of customer. Contact centers use its platform to route calls and chats, guide agents in real time and increasingly hand routine conversations to AI. Banks and other regulated financial firms use a separate line of software to spot money laundering and fraud in their transaction flows. Both businesses sell to the same kind of buyer: large enterprises that cannot easily rip out software once it runs a core process.
盈利方式
Most revenue now comes from cloud subscriptions billed recurrently rather than one-time software licenses; cloud revenue grew 13% in 2025 while the on-premise portion shrinks as customers migrate. Contracts with large enterprises and financial institutions run multiple years, giving revenue visibility, but the company must keep investing in AI features to defend pricing as customers compare it against newer, AI-native rivals rather than legacy on-premise vendors.
分部营收
Cloud contact-center software (CXone) that routes and analyzes customer interactions and increasingly automates them with AI agents.
Software sold to banks and financial institutions to detect money laundering, fraud and market abuse (the Actimize product line).
护城河
转换成本 · 狭窄Both product lines get woven into processes that are expensive to disrupt: a bank's anti-money-laundering rules or a call center's routing logic, once configured, is costly to migrate and carries compliance risk if it goes wrong. That said, competition from cloud-native customer-experience and AI startups is intensifying, and the moat has not stopped recent margin pressure and share-price declines.
需求驱动因素
中度周期性Contact-center software spending follows corporate IT budgets and can be trimmed in a downturn, but much of it replaces headcount rather than adding cost, which cushions demand. Financial-crime and compliance software is closer to defensive: banks buy it because regulators require it, not because business is good, so that half of revenue is less exposed to the economic cycle than the customer-experience half.
主要风险
- Intensifying AI competition in customer experience — New AI-native entrants and larger platform vendors are competing directly for the customer-experience budget NICE has historically held, pressuring both growth and profitability as the company invests to keep pace.
- Cloud transition and margin pressure — Shifting revenue from on-premise licenses to cloud subscriptions changes the timing and shape of margins during the transition, and the company has flagged profitability pressure while it invests in AI capabilities.
- AI-related privacy and operational risk — Embedding AI and generative-AI models into products used by banks and call centers raises privacy, security and operational risks that the company itself flags as it expands these features.
- Operations based in Israel — A meaningful part of NICE's research and operations sits in Israel, exposing the company to regional political and security instability that could disrupt staff, facilities or customer confidence.
客户集中度
NICE does not disclose revenue concentration among individual customers; its exposure runs instead through geography, with North America the dominant market for both product lines.
看多理由
Buyers argue that NICE's compliance software is protected by regulatory necessity that AI hype cannot easily disrupt, that its double-digit cloud growth shows the customer-experience business is still winning share, and that a sell-off driven by AI competition fears has made the stock cheap relative to a durable, recurring-revenue base.
看空理由
Sellers fear that AI-native rivals will erode NICE's position in customer-experience software faster than the compliance business can compensate, that the cloud transition keeps squeezing margins for longer than expected, and that a company built on North American enterprise contracts is more exposed to a single region's IT spending than diversification would suggest.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
Generated on 2026年9月19日 with claude-haiku-4-5 — shared with all users
Cisco's Webex Contact Center serves the same enterprise contact-centre buyers, and its large installed base of on-premise contact centres is exactly the estate CXone tries to migrate to its own cloud.
Genesys Cloud CX is the other platform large enterprises shortlist against NICE CXone for omnichannel cloud contact centres, covering the same voice, chat and routing workloads for the same big customer-service operations.
Five9 sells a cloud contact-centre suite with the same mix of omnichannel routing, AI agents and workforce management, competing with CXone for mid-market and enterprise seats in North America.
Verint competes head-on in workforce engagement management and customer-experience analytics — recording, quality management, forecasting and scheduling — the historical core of NICE's business.
Talkdesk is a cloud-native CCaaS vendor that bids for the same contact-centre replacement deals as CXone, with its own bundled workforce and AI modules.
Avaya defends a large base of enterprise and public-sector contact centres, and its cloud and hybrid offers compete with CXone for those same renewal and migration budgets.
资产负债表与流动性
营收
$3.07B
最近12个月（截至2026/6/30）
净利润
$425M
最近12个月（截至2026/6/30）
自由现金流
$615M
股东权益合计
$150M
负债合计
$88M
流动比率
1.33
利息覆盖率
-
债务/EBITDA
0.11
每股收益
营收与净利润
自由现金流
收入构成
历史财务表
利润率变化
债务变化
债务负担有多重
增长一览表
增长 — 营业收入
公允价值估算
公允价值
$211.59
当前价格
$114.43
安全边际
+45.9%
公允价值区间
$137.53 - $285.65
所用估值方法之间的离散区间，并非经过统计校准的置信区间。
估算方法
估值指标
市盈率（P/E）
17.16
ROE
11.3%
市净率（P/B）
44.23
P/FCF
10.79
毛利率
65.1%
ROIC
140.7%
盈利能力雷达图
价值创造（经济护城河）
ROIC异常值ROIC
140.7%
WACC
8.0%
ROIC − WACC
+132.7 pp
ROIC 超过资本成本：公司正在为股东创造价值。
基本面分析标准
通过（16）
- Price CAGR 5.53%
- ROIC 140.7%
- Gross Margin 65.1%
- P/FCF 10.79
- Debt/Equity ratio
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Debt/EBITDA
- DCF valuation (Undervalued)
- ROE 11.2%
- Revenue Growth 5Y 12.3%
- Analyst Consensus 67% Buy
- PEG Ratio 0.62
- Earnings Quality (OCF/NI) 1.10
- Net Margin Trend 20.8% vs 16.2%
未通过（3）
- P/B Ratio 44.23
- Earnings Surprise avg -0.0%
- Piotroski F-Score 2/9
不可用（8）
- EPS data insufficient
- Dividend Payout NaN%
- Operating Margin NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- Share Dilution (missing shares data)
Piotroski F-评分
存在严重财务隐患
盈利质量
高质量：盈利有现金流支撑
股权稀释
正在回购股份，对股东友好
机构持股
公司治理
管理团队
| 姓名 | 职位 | 年龄 |
|---|---|---|
| Mr. Scott E. Russell | Chief Executive Officer | 52 |
| Ms. Beth Gaspich | Chief Financial Officer | 59 |
| Mr. Dan Belanger | President of NICE Americas | - |
| Mr. Darren Rushworth | President of CE International | 57 |
| Mr. Craig B. Costigan | Chief Executive Officer of NICE Actimize | 64 |
| Mr. Arun Chandra | Chief Operating Officer | 64 |
| Mr. Jeff Comstock | President of CX Product & Technology | - |
| Mr. Ryan Gilligan | Vice President of Investor Relations | - |
| Mr. Alon Levy | VP, General Counsel & Corporate Secretary | 51 |
| Ms. Shiri Neder | Executive Vice President of Human Resources | 49 |
第二部分 · 价格与买入时机
这一部分不判断公司是否值得拥有：它帮助你在基本面说服你之后，选择何时买入。包含：技术分析、潜力、历史回撤、Gamma 敞口。
Latest News
Recent headlines for NICE, sourced from Markets Gazette.
- 5/6/2026POSITIVEWhat's Going On With NICE Stock Wednesday?
NICE Ltd. reported first-quarter 2026 results that surpassed analyst expectations, with earnings per share (EPS) reaching $2.64 against a consensus of $2.40. Total sales for the quarter amounted to $768.6 million, also exceeding the $750 million forecast. A key driver of this performance was the robust 14.6% year-over-year growth in cloud revenue, fueled by sustained momentum in artificial intelligence (AI) solutions. This strong showing indicates NICE's effective execution and its ability to capitalize on the growing demand for AI-driven cloud services, potentially signaling continued upward trajectory for the stock.
- 3/15/2026NEGATIVENICE Stock Fell Over 20% Last Quarter. One Investor Exited a $3 Million Position
NICE Ltd., a provider of AI-driven cloud software for customer engagement and automation, experienced a significant decline in its stock value, falling over 20% in the last quarter. This downturn prompted at least one major investor to exit a substantial $3 million position. The company's focus on AI for enterprise solutions has not translated into positive market sentiment recently, suggesting potential headwinds or a reassessment of its growth prospects by the market.
- 3/15/2026POSITIVEThis Investor Is Betting $16 Million on a Software Stock Down 17% This Past Year. Here's What to Know
An investor has placed a significant $16 million bet on NICE Ltd., an AI-powered cloud platform provider specializing in enterprise solutions for customer experience, analytics, and compliance. Despite the stock's 17% decline over the past year, this substantial investment signals strong conviction in the company's future prospects. NICE's focus on AI and cloud technologies positions it well within key growth sectors, potentially driving a recovery and future appreciation for shareholders. The investment may indicate an undervaluation by the market or confidence in upcoming catalysts.
via Markets Gazette