上市在即阿里巴巴究竟价值几何

2014-09-11 14:42:08来源：可可英语

　　For most of its time in the public view, Alibaba GroupHolding Ltd has been able to capture the investorzeitgeist, shaping its asset portfolio toaccommodate whatever investors think is sexy atthe moment. Business-to-business commerce?Check. Online shopping for consumers? Check.Micro-blogging, social media? There’s Weibo forthat. Online payment service? Got it covered withAlipay. Mobile Internet products and services? Noproblem, UC Web fits the bill. Cloud computing,online entertainment,professional soccer team?Check, check and check.

　　在公众眼中，阿里巴巴集团(Alibaba Group Holding Ltd)总能抓住投资者的眼球，塑造符合当下投资者所推崇的资产组合。B2B商务?有。消费者线上购物?有。微型博客、社交媒体?有微博(Weibo)。在线支付服务?支付宝就是做这个的。移动互联网产品和服务?没问题，有UC浏览器。云计算、在线娱乐、职业足球队?有，有，都有。

　　Alibaba is not so much a company as it is essentially an exchange traded fund for exposureto Chinese technology and commerce.

　　阿里巴巴看上去并不怎么像一家公司，倒像是一只专注于中国科技和电商领域的交易所上市基金。

　　On the cusp of becoming publicly-traded in the United States, a Bloomberg poll of analystsputs the value of the entire firm at $198 billion. If Alibaba’s syndicate of heavyweights – CreditSuisse CS , Deutsche Bank DB 1.29% , Goldman Sachs GS 0.27% , J.P. Morgan JPM 0.02% ,Morgan Stanley MS 0.41% , and Citi C 0.46% – pull it off, the company’s valuation would jointhe ranks of IBM, Toyota TM , Verizon VZ -0.32% , and most fittingly,Facebook FB 0.16% .That kind of valuation brings with it breathtaking multiples: 53.2 times (March) 2014 year endGAAP earnings, 40 times EBITDA, and 23.4 times revenues.

　　在即将成为美国公开上市公司的当口，接受彭博资讯(Bloomberg)调查的分析师对阿里巴巴的整体估值为1980亿美元。如果瑞士信贷(Credit Suisse)、德意志银行(Deutsche Bank)、高盛(GoldmanSachs)、摩根大通(J.P. Morgan)、摩根士丹利(Morgan Stanley)和花旗(Citi)等大牌投行的联合承销获得成功，阿里巴巴的估值将跻身IBM、丰田(Toyota)和Verizon等大公司之列，与Facebook比肩。相应的估值倍数很是惊人：是按美国通用会计准则计算的截至2014年(3月)的年度收益的53.2倍，息税折旧摊销前利润的40倍，以及营收的23.4倍。

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