Banks - Diversified · NYSE
現在価格
$49.65
適正株価
下記の計算機で算出
Bank of America Corporation のフルDCF分析。ファンダメンタルズ自動入力、仮定値の調整、感応度ヒートマップ付き。
Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.
ROIC (TTM)
4.6%
ROE (TTM)
10.5%
FCF Yield
16.05%
直近12ヶ月のデータでは、BAC の1株当たりFCFは N/A、投下資本利益率（ROIC）は 4.6% で、これらはDCF法による株式評価の重要な入力値です。P/FCFは N/A、FCF利回りは 16.05% で、BAC の相対的なバリュエーションを評価する際の参考指標となります。
BAC の適正株価は、将来の成長率、割引率（WACC）、ターミナルバリューの仮定に依存します。DCF法は将来のFCFを現在価値に割引きますが、WACCの僅かな変動で20%以上ぶれる可能性があるため、感応度分析が不可欠です。
BAC が割安かどうかは、DCFによる適正株価と現在の株価 $49.65 の比較で判断します。安全マージンがプラス（適正株価 > 市場価格）なら割安の可能性がありますが、確度は成長率と割引率の仮定の信頼性に依存します。
Bank of America Corporation のDCF評価手順：(1) 直近12ヶ月の1株当たりFCFをベースに、(2) Banks - Diversified 業種のトレンドと企業ファンダメンタルズをもとに今後5〜10年のFCF成長率を予想、(3) BAC のリスクを反映した割引率（WACC）を設定、(4) 予測期間後のターミナルバリューを加算します。
DCF（割引キャッシュフロー法）は、企業の将来のキャッシュ創出能力に基づいて現在価値を算出する手法です。Bank of America Corporation に当てはめると、Banks - Diversifiedが今後5〜10年で生み出すFCFを予測し、それを現在価値に割引きます。BAC のROICは 4.6%、資本コストを上回るリターンの確保に課題があることを示唆します。
WACC（加重平均資本コスト）はDCFモデルの割引率——投資家が要求する最低リターンを反映します。BAC については、資本構成と株式リスクプレミアムがWACCを決定します。WACCが1%上昇すると、適正株価は通常10〜15%下落します。
