{"version":"1.0","provider_name":"Fortune Insight","provider_url":"https:\/\/prime.fortuneinsight.com\/web","author_name":"\u7a4dGod","author_url":"https:\/\/prime.fortuneinsight.com\/web\/posts\/author\/jakgod","title":"\u8ac7\u8ac7AMZN \u73fe\u91d1\u9031\u8f49\u5929\u671f(CCC)\u53caPFCF+DCF\u4f30\u503c - Fortune Insight","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\"><a href=\"https:\/\/prime.fortuneinsight.com\/web\/posts\/541231\">\u8ac7\u8ac7AMZN \u73fe\u91d1\u9031\u8f49\u5929\u671f(CCC)\u53caPFCF+DCF\u4f30\u503c<\/a><\/blockquote>\n<script type='text\/javascript'>\n<!--\/\/--><![CDATA[\/\/><!--\n\t\t!function(c,d){\"use strict\";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var 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30\u5929\u7684\u6642\u9593\u4f86\u5b8c\u6210\uff1a\u300c\u5f9e\u4f9b\u61c9\u5546\u90a3\u88e1\u8cb7\u5165\u751f\u7522\u7269\u6599 \u2192 \u505a\u7522\u54c1 \u2192 \u8ce3\u8ca8\u7d66\u5ba2\u6236\u4e26\u6536\u5230\u9322 \u2192 \u4ed8\u9322\u7d66\u4f9b\u61c9\u5546\u300d\u3002 CCC\u8d8a\u5c0f\u5247\u4ee3\u8868\u516c\u53f8\u6536\u9322\u7684\u901f\u5ea6\u8d8a\u5feb\uff0c\u7d93\u71df\u6548\u80fd\u8d8a\u9ad8\uff0c\u4f8b\u5982\u901a\u904e\u66f4\u77ed\u7684\u5929\u671f\u5f9e\u5ba2\u6236\u6536\u9322\uff0c\u6709\u66f4\u9577\u7684\u5929\u671f\u5411\u4f9b\u61c9\u5546\u4ed8\u9322\uff0c\u5c31\u80fd\u964d\u4f4e CCC\u3002 \u4ee5\u4e0a\u7684CCC\u5716\u662fAMZN\u5f9e2019\u5e74\u81f3\u4eca\u7684\u6578\u64da\uff0c\u6211\u5011\u53ef\u4ee5\u770b\u5230AMZN\u904e\u53bb\u5341\u5e74\u7684CCC\u90fd\u662f\u8655\u65bc\u8ca0\u6578\uff0c\u5e73\u6642\u4e00\u822c\u516c\u53f8\u90fd\u662f\u6b63\u6578\u7684\uff0c\u4ee5AMZN 2020\u5e74\u7684CCC\u662f\u8ca026\u5929\uff0c\u5373\u662f\u4ee3\u8868AMZN\u53ef\u4ee5\u767d\u767d\u4f54\u7528\u9019\u7b46\u73fe\u91d126\u5929\uff0c\u800c\u4f9b\u61c9\u5546\u7d66AMZN\u4f9b\u8ca8\u5f8c\uff0c\u81f3\u5c1126\u5929\u5f8c\u624d\u80fd\u6536\u5230\u8ca8\u6b3e\uff0c\u5b8c\u5168\u662f\u300c\u5c48\u6a5f\u300d\u7684\u3002 Price to FCF \u4f30\u503c \u5c0d\u65bcAMZN\uff0c\u904b\u7528PFCF\u4f30\u503c\u6703\u8f03\u9069\u5408\u3002\u4ee5\u73fe\u50f9$3,152\uff0c2020\u5e74FCF per share\u70ba$51.9\uff0cPFCF\u70ba60.7\u500d, \u7b97\u8655\u65bc\u5408\u7406\u6c34\u5e73\uff0c\u9ad8\u5cf0\u671f\u57282018\u5e74\u6642\u8655\u65bc80\u500d\u4ee5\u4e0a\uff0c\u500b\u4eba\u8a8d\u70baPFCF\u5982\u56de\u843d\u81f355\u500d\u5de6\u53f3\u5247\u7b97\u70ba\u5438\u5f15\u6c34\u5e73\uff0c\u5373\u80a1\u50f9\u7d04$2,854\u9644\u8fd1\u3002 DCF\u4f30\u503c \u9664\u4e86PFCF\u4f30\u503c\u5916\uff0cDCF\u4f30\u503c\u90fd\u9069\u5408\u7528\u65bcAMZN. \u85cd\u8272\u90e8\u4efd\u662fActual date, \u9ec3\u8272\u90e8\u4efd\u662fAssumption Continuous growth: \u7b2c11\u5e74\u53732031\u5e74\u4e4b\u5f8c\u6bcf\u5e743% growth WACC: \u4fdd\u5b88\u8d77\u898b\uff0c\u7528\u6700\u9ad88%\u8cc7\u91d1\u6210\u672c Growth rate: \u8fd13\u5e74\u7684growth\u5747\u503c\u70ba29%, \u6211\u4fdd\u5b88\u5047\u8a2d\u672a\u4f8610\u5e74\u7dad\u630115% growth FCF\/ SALES ratio: \u8fd13\u5e74\u7684ratio\u5747\u503c\u70ba7.3%, \u9810\u8a08\u8a72\u6bd4\u4f8b\u5728\u672a\u4f86\u4e0d\u6703\u6709\u5927\u8b8a\u52d5\uff0c\u6240\u4ee57% \u6700\u5f8c\u904b\u7b97\u5f8c\u7684\u80a1\u50f9\u70baUSD2,707\uff0c\u56e0\u70ba\u4ee5\u4e0aAssumption\u5c6c\u65bc\u5408\u7406\u504f\u4fdd\u5b88\uff0c\u76f8\u4fe1AMZN\u672a\u4f86\u7684\u589e\u9577\u80fd\u529b\u61c9\u8a72\u80fd\u5920\u505a\u5230\u6bcf\u5e7415%\u4ee5\u4e0a\u7684\u589e\u9577\u7684\uff0c\u5982\u80a1\u50f9\u80fd\u5920\u8dcc\u81f3USD2,707\u9644\u8fd1\u6c34\u5e73\uff0c\u5b89\u5168\u908a\u969b\u76f8\u5c0d\u5c31\u66f4\u5927\u3002\u6211\u5011\u53ef\u4ee5\u767c\u73fePFCF\u53caDCF\u4f30\u503c\u5f97\u51fa\u4f86\u7684\u7d50\u679c\u5176\u5be6\u76f8\u5dee\u90fd\u4e0d\u592a\u5927\uff0c\u5982\u504f\u5411\u4fdd\u5b88\u4f30\u7b97\u7684\u8a71\u3002 [&hellip;]"}