Financial - Capital Markets · NYSE
現在価格
$953.84
適正株価
下記の計算機で算出
The Goldman Sachs Group, Inc. 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。
The Goldman Sachs Group, Inc., a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The company's Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services. This segment also offers underwriting services, such as equity underwriting for common and preferred stock and convertible and exchangeable securities; and debt underwriting for various types of debt instruments, including investment-grade and high-yield debt, bank and bridge loans, and emerging-and growth-market debt, as well as originates structured securities. Its Global Markets segment is involved in client execution activities for cash and derivative instruments; credit and interest rate products; and provision of equity intermediation and equity financing, clearing, settlement, and custody services, as well as mortgages, currencies, commodities, and equities related products. The company's Asset Management segment manages assets across various classes, including equity, fixed income, hedge funds, credit funds, private equity, real estate, currencies, and commodities; and provides customized investment advisory solutions, as well as invests in corporate, real estate, and infrastructure entities. Its Consumer & Wealth Management segment offers wealth advisory and banking services, including financial planning, investment management, deposit taking, and lending; private banking; and unsecured loans, as well as accepts saving and time deposits. The company was founded in 1869 and is headquartered in New York, New York.
ROIC (TTM)
0.9%
ROE (TTM)
14.6%
FCF Yield
-14.90%
直近12ヶ月のデータでは、GS の1株当たりFCFは N/A、投下資本利益率（ROIC）は 0.9% 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 -14.90% で、GS 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。
GS 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。
GS が割安かどうかは、DCFによる適正株価と現在の株価 $953.84 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。
The Goldman Sachs Group, Inc. 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) Financial - Capital Markets 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) GS 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。The Goldman Sachs Group, Inc. に当てはめると、Financial - Capital Markets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。GS のROICは 0.9%、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。GS 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。
