运用现金流折现模型评估中国工商银行投资价值  

Using Discounted Cash Flow Model to Evaluate the Investment Value of Industrial and Commercial Bank of China

作　　者：牟东泽 苏利平[1] MU Dong-ze;SU Li-ping(Inner Mongolia University of Science&Technology,Baotou 014000,China)

机构地区：[1]内蒙古科技大学,包头014000

出　　处：《价值工程》2020年第15期35-38,共4页Value Engineering

摘　　要：作为我国四大国有股份制商业银行之首,中国工商银行以其稳健的盈利性、可期的成长性受到了越来越多投资者的关注。然而在我国股票市场上,中国工商银行的价值一直面临被低估的现象,投资者在投资过程中亟需对其投资价值进行客观评估。本文以中国工商银行为例,通过分析商业银行投资价值适用性、进行评估模型构建、对现金流进行测算从而得出结论,中国工商银行股价存在一定程度低估。As the first of the four state-owned joint-stock commercial banks in China,Industrial and Commercial Bank of China has attracted more and more investors'attention for its steady profitability and predictable growth.However,in the stock market of our country,the value of Industrial and Commercial Bank of China has been faced with the phenomenon of being undervalued.Investors need to evaluate the investment value objectively in the process of investment.This paper takes Industrial and Commercial Bank of China as an example.Through analyzing the applicability of investment value of commercial banks,constructing evaluation model and calculating cash flow,it concludes that the stock price of Industrial and Commercial Bank of China is undervalued to some extent.

关 键 词：现金流折现模型 中国工商银行 投资价值 

分 类 号：F426[经济管理—产业经济]