三模型对比快照
仅用于标记，不自动拉取数据
内在价值/股
$188.36
安全边际
46.9%
企业价值 (EV)
$96.2B
股东权益价值
$94.2B
第一阶段 PV
$10.4B
5 年
第二阶段 PV
$14.5B
5 年
衰退期 PV
$28.8B
9 年
PV(终端价值)
$42.6B
44% of EV
净负债
$2.0B
EV → 股权
| WACC \ TGR | 1.5% | 2% | 2.5% | 3%当前 | 3.5% | 4% |
|---|---|---|---|---|---|---|
| 9% | $205 | $214 | $221 | $233 | $244 | $260 |
| 9.5% | $186 | $193 | $199 | $209 | $217 | $230 |
| 10%当前 | $170 | $176 | $181 | $188 | $195 | $206 |
| 10.5% | $156 | $161 | $165 | $171 | $177 | $185 |
| 11% | $143 | $148 | $151 | $156 | $161 | $167 |
| 年份 | 阶段 | 增速 | 营收 | FCF Margin | FCF | PV(FCF) |
|---|---|---|---|---|---|---|
| Y1 | 高增长 | 20.0% | $12.0B | 15.0% | $1.8B | $1.6B |
| Y2 | 高增长 | 20.0% | $14.4B | 15.4% | $2.2B | $1.8B |
| Y3 | 高增长 | 20.0% | $17.3B | 15.8% | $2.7B | $2.0B |
| Y4 | 高增长 | 20.0% | $20.7B | 16.2% | $3.4B | $2.3B |
| Y5 | 高增长 | 20.0% | $24.9B | 16.6% | $4.1B | $2.6B |
| Y6 | 中增长 | 12.0% | $27.9B | 16.9% | $4.7B | $2.7B |
| Y7 | 中增长 | 12.0% | $31.2B | 17.3% | $5.4B | $2.8B |
| Y8 | 中增长 | 12.0% | $35.0B | 17.7% | $6.2B | $2.9B |
| Y9 | 中增长 | 12.0% | $39.2B | 18.1% | $7.1B | $3.0B |
| Y10 | 中增长 | 12.0% | $43.9B | 18.5% | $8.1B | $3.1B |
| Y11 | 衰退 | 11.0% | $48.7B | 18.9% | $9.2B | $3.2B |
| Y12 | 衰退 | 10.0% | $53.5B | 19.3% | $10.3B | $3.3B |
| Y13 | 衰退 | 9.0% | $58.4B | 19.7% | $11.5B | $3.3B |
| Y14 | 衰退 | 8.0% | $63.0B | 20.1% | $12.6B | $3.3B |
| Y15 | 衰退 | 7.0% | $67.4B | 20.4% | $13.8B | $3.3B |
| Y16 | 衰退 | 6.0% | $71.5B | 20.8% | $14.9B | $3.2B |
| Y17 | 衰退 | 5.0% | $75.1B | 21.2% | $15.9B | $3.2B |
| Y18 | 衰退 | 4.0% | $78.1B | 21.6% | $16.9B | $3.0B |
| Y19 | 衰退 | 3.0% | $80.4B | 22.0% | $17.7B | $2.9B |
| 显式预测 PV 合计 | $53.6B | |||||