当前价格
$293.78
内在价值
使用下方计算器估算
CME Group Inc., together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income products. The company also provides clearing house services, including clearing, settling, and guaranteeing futures and options contracts, and cleared swaps products traded through its exchanges; and trade processing and risk mitigation services. In addition, the company offers a range of market data services, including real-time and historical data services. It serves professional traders, financial institutions, institutional and individual investors, corporations, manufacturers, producers, governments, and central banks. The company was formerly known as Chicago Mercantile Exchange Holdings Inc. and changed its name to CME Group Inc. in July 2007. CME Group Inc. was founded in 1898 and is headquartered in Chicago, Illinois.
ROIC (TTM)
1.6%
ROE (TTM)
14.5%
FCF Yield
3.98%
基于过去 12 个月的数据，CME 每股自由现金流为 N/A，投入资本回报率（ROIC）为 1.6%，这些是使用 DCF 方法进行股票估值的关键输入。P/FCF 比率为 N/A，FCF 收益率为 3.98%，是评估 CME 相对估值的重要参考指标。
CME 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。
CME 是否被低估取决于 DCF 内在价值与当前市价 $293.78 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 CME Group Inc. 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 - Data & Stock Exchanges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 CME 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 CME Group Inc.，这意味着预测Financial - Data & Stock Exchanges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。CME 的 ROIC 为 1.6%，表明公司可能面临产生超过资本成本回报的挑战。
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 CME，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%。
