Financial - Credit Services · NYSE
当前价格
$292.27
内在价值
使用下方计算器估算
对 American Express Company 运行完整的 DCF 分析，自动填充基本面数据，可调节假设参数，含敏感性热力图。
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services. The company's products and services also comprise merchant acquisition and processing, servicing and settlement, point-of-sale marketing, and information products and services for merchants; and fraud prevention services, as well as the design and operation of customer loyalty programs. It sells its products and services to consumers, small businesses, mid-sized companies, and large corporations through mobile and online applications, third-party vendors and business partners, direct mail, telephone, in-house sales teams, and direct response advertising. American Express Company was founded in 1850 and is headquartered in New York, New York.
ROIC (TTM)
8.3%
ROE (TTM)
33.5%
FCF Yield
7.95%
AXP 的内在价值取决于未来增长率、折现率（WACC）和终值假设。DCF 模型将预期自由现金流折现回现值——WACC 的小幅变化可能导致估算偏移 20% 以上，因此敏感性分析至关重要。
AXP 是否被低估取决于 DCF 内在价值与当前市价 $292.27 的比较。正的安全边际（内在价值高于市价）暗示潜在低估，但置信度取决于增长率和折现率假设的可靠性。
对 American Express Company 进行 DCF 估值的步骤：(1) 以过去 12 个月每股自由现金流为基础，(2) 根据Financial - Credit Services行业趋势和公司基本面预测未来 5-10 年的 FCF 增长，(3) 选择反映 AXP 风险的折现率（WACC），(4) 加上预测期之后的终值。
DCF（折现现金流）根据公司未来的现金产生能力估算其当前价值。对于 American Express Company，这意味着预测Financial - Credit Services在未来 5-10 年能产生多少自由现金流，再折现到今天的价值。AXP 的 ROIC 为 8.3%，显示中等水平的资本回报。
WACC（加权平均资本成本）是 DCF 模型中的折现率——反映投资者要求的最低回报。对于 AXP，资本结构和股权风险溢价决定了 WACC。WACC 每提高 1%，内在价值通常下降 10-15%。
