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《大行报告》法巴料蚂蚁集团最新估值达1.95万亿港元 相当明年市盈率53倍
阿思达克 10-08 09:58
法巴发表报告(由晨星撰写)表示,更新对正计划於香港及上海作双重上市的蚂蚁集团估值预测为2.45万亿港元(或3,160亿美元),按现金流方式估算,相当於2021年及2022年预测市盈率各53倍及45倍,市盈率较高,因相信公司目前处於变现期的初始阶段,对比《彭博通讯社》於9月21日曾引述消息指蚂蚁集团估值为2,500亿美元(约1.95万亿港元)。

该行相信蚂蚁集团藉其业务具有宽广的「护城河」,并且可以预期资本回报率(ROIC)将在未来20年内广泛超越其加权平均资金成本(WACC)。该行料公司可藉网络效应,使客户的销售受益於网络规模扩大,而蚂蚁金服以支付宝移动支付服务而闻名,按收入计算它已为中国最大的数字金融服务提供商,截至今年6月,支付宝拥有超过7.11亿的月活跃用户和8,000万商户的支付宝网络。

法巴指,蚂蚁集团所构建的金融科技平台服务业务板块中三大支柱的收入,已占蚂蚁集团去年总收入的56%,该行预计此三大支柱,有助推动公司未来十年收入复合年均增长达21%,以及经营利润复合年均增长率达达到26%。

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