Intrinsic value of Ameriprise Financial - AMP

Previous Close

$154.12

  Intrinsic Value

$205.84

stock screener

  Rating & Target

buy

+34%

Previous close

$154.12

 
Intrinsic value

$205.84

 
Up/down potential

+34%

 
Rating

buy

Our model is not good at valuating stocks of financial companies, such as AMP.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of AMP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 23.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -3.81
  4.10
  4.19
  4.27
  4.34
  4.41
  4.47
  4.52
  4.57
  4.61
  4.65
  4.69
  4.72
  4.75
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
Revenue, $m
  11,735
  12,216
  12,728
  13,272
  13,848
  14,459
  15,105
  15,788
  16,509
  17,271
  18,074
  18,921
  19,814
  20,754
  21,744
  22,787
  23,884
  25,038
  26,252
  27,530
  28,873
  30,285
  31,769
  33,329
  34,969
  36,693
  38,504
  40,406
  42,406
  44,506
  46,712
Variable operating expenses, $m
 
  9,683
  10,084
  10,510
  10,962
  11,440
  11,946
  12,482
  13,047
  13,644
  14,273
  14,826
  15,526
  16,263
  17,039
  17,855
  18,715
  19,620
  20,571
  21,572
  22,624
  23,731
  24,894
  26,117
  27,402
  28,752
  30,171
  31,662
  33,229
  34,874
  36,603
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  9,902
  9,683
  10,084
  10,510
  10,962
  11,440
  11,946
  12,482
  13,047
  13,644
  14,273
  14,826
  15,526
  16,263
  17,039
  17,855
  18,715
  19,620
  20,571
  21,572
  22,624
  23,731
  24,894
  26,117
  27,402
  28,752
  30,171
  31,662
  33,229
  34,874
  36,603
Operating income, $m
  1,833
  2,533
  2,644
  2,762
  2,886
  3,019
  3,158
  3,306
  3,462
  3,627
  3,801
  4,095
  4,288
  4,491
  4,706
  4,931
  5,169
  5,418
  5,681
  5,958
  6,248
  6,554
  6,875
  7,213
  7,568
  7,941
  8,332
  8,744
  9,177
  9,631
  10,109
EBITDA, $m
  2,081
  2,717
  2,831
  2,952
  3,080
  3,216
  3,359
  3,511
  3,672
  3,841
  4,020
  4,208
  4,407
  4,616
  4,836
  5,068
  5,312
  5,569
  5,839
  6,123
  6,421
  6,736
  7,066
  7,413
  7,777
  8,161
  8,563
  8,987
  9,431
  9,898
  10,389
Interest expense (income), $m
  163
  455
  395
  585
  786
  1,000
  1,226
  1,466
  1,719
  1,986
  2,268
  2,566
  2,880
  3,211
  3,559
  3,926
  4,312
  4,719
  5,147
  5,597
  6,070
  6,568
  7,091
  7,641
  8,219
  8,827
  9,466
  10,137
  10,842
  11,583
  12,361
Earnings before tax, $m
  1,592
  2,079
  2,249
  2,177
  2,100
  2,019
  1,932
  1,841
  1,744
  1,641
  1,533
  1,529
  1,408
  1,281
  1,146
  1,005
  856
  699
  534
  361
  178
  -14
  -216
  -429
  -652
  -887
  -1,133
  -1,393
  -1,665
  -1,952
  -2,252
Tax expense, $m
  278
  561
  607
  588
  567
  545
  522
  497
  471
  443
  414
  413
  380
  346
  310
  271
  231
  189
  144
  97
  48
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  1,314
  1,517
  1,642
  1,589
  1,533
  1,474
  1,410
  1,344
  1,273
  1,198
  1,119
  1,116
  1,028
  935
  837
  734
  625
  511
  390
  263
  130
  -14
  -216
  -429
  -652
  -887
  -1,133
  -1,393
  -1,665
  -1,952
  -2,252

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  2,486
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  139,821
  143,719
  149,741
  156,137
  162,919
  170,103
  177,704
  185,739
  194,227
  203,186
  212,636
  222,601
  233,102
  244,165
  255,814
  268,079
  280,986
  294,566
  308,853
  323,878
  339,678
  356,290
  373,754
  392,110
  411,403
  431,678
  452,983
  475,369
  498,888
  523,598
  549,556
Adjusted assets (=assets-cash), $m
  137,335
  143,719
  149,741
  156,137
  162,919
  170,103
  177,704
  185,739
  194,227
  203,186
  212,636
  222,601
  233,102
  244,165
  255,814
  268,079
  280,986
  294,566
  308,853
  323,878
  339,678
  356,290
  373,754
  392,110
  411,403
  431,678
  452,983
  475,369
  498,888
  523,598
  549,556
Revenue / Adjusted assets
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
  0.085
Average production assets, $m
  358
  366
  382
  398
  415
  434
  453
  474
  495
  518
  542
  568
  594
  623
  652
  684
  717
  751
  788
  826
  866
  909
  953
  1,000
  1,049
  1,101
  1,155
  1,212
  1,272
  1,335
  1,401
Working capital, $m
  0
  6,108
  6,364
  6,636
  6,924
  7,229
  7,552
  7,894
  8,255
  8,635
  9,037
  9,461
  9,907
  10,377
  10,872
  11,393
  11,942
  12,519
  13,126
  13,765
  14,436
  15,142
  15,885
  16,665
  17,485
  18,346
  19,252
  20,203
  21,203
  22,253
  23,356
Total debt, $m
  15,472
  11,290
  16,710
  22,466
  28,570
  35,036
  41,877
  49,108
  56,747
  64,810
  73,316
  82,284
  91,735
  101,691
  112,176
  123,214
  134,830
  147,053
  159,910
  173,433
  187,653
  202,604
  218,322
  234,842
  252,206
  270,453
  289,628
  309,775
  330,943
  353,181
  376,543
Total liabilities, $m
  133,529
  129,347
  134,767
  140,523
  146,627
  153,093
  159,934
  167,165
  174,804
  182,867
  191,373
  200,341
  209,792
  219,748
  230,233
  241,271
  252,887
  265,110
  277,967
  291,490
  305,710
  320,661
  336,379
  352,899
  370,263
  388,510
  407,685
  427,832
  449,000
  471,238
  494,600
Total equity, $m
  6,292
  14,372
  14,974
  15,614
  16,292
  17,010
  17,770
  18,574
  19,423
  20,319
  21,264
  22,260
  23,310
  24,416
  25,581
  26,808
  28,099
  29,457
  30,885
  32,388
  33,968
  35,629
  37,375
  39,211
  41,140
  43,168
  45,298
  47,537
  49,889
  52,360
  54,956
Total liabilities and equity, $m
  139,821
  143,719
  149,741
  156,137
  162,919
  170,103
  177,704
  185,739
  194,227
  203,186
  212,637
  222,601
  233,102
  244,164
  255,814
  268,079
  280,986
  294,567
  308,852
  323,878
  339,678
  356,290
  373,754
  392,110
  411,403
  431,678
  452,983
  475,369
  498,889
  523,598
  549,556
Debt-to-equity ratio
  2.459
  0.790
  1.120
  1.440
  1.750
  2.060
  2.360
  2.640
  2.920
  3.190
  3.450
  3.700
  3.940
  4.160
  4.390
  4.600
  4.800
  4.990
  5.180
  5.350
  5.520
  5.690
  5.840
  5.990
  6.130
  6.270
  6.390
  6.520
  6.630
  6.750
  6.850
Adjusted equity ratio
  0.046
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,314
  1,517
  1,642
  1,589
  1,533
  1,474
  1,410
  1,344
  1,273
  1,198
  1,119
  1,116
  1,028
  935
  837
  734
  625
  511
  390
  263
  130
  -14
  -216
  -429
  -652
  -887
  -1,133
  -1,393
  -1,665
  -1,952
  -2,252
Depreciation, amort., depletion, $m
  248
  184
  187
  190
  193
  197
  201
  205
  209
  214
  219
  114
  119
  125
  130
  137
  143
  150
  158
  165
  173
  182
  191
  200
  210
  220
  231
  242
  254
  267
  280
Funds from operations, $m
  2,282
  1,701
  1,828
  1,779
  1,727
  1,671
  1,612
  1,549
  1,482
  1,412
  1,338
  1,229
  1,147
  1,059
  967
  870
  768
  661
  548
  429
  303
  168
  -25
  -229
  -442
  -666
  -902
  -1,150
  -1,411
  -1,685
  -1,972
Change in working capital, $m
  311
  241
  256
  272
  288
  305
  323
  341
  361
  381
  402
  423
  446
  470
  495
  521
  549
  577
  607
  639
  672
  706
  742
  780
  820
  862
  905
  951
  1,000
  1,050
  1,103
Cash from operations, $m
  1,971
  1,461
  1,573
  1,507
  1,438
  1,365
  1,288
  1,207
  1,122
  1,031
  936
  806
  700
  589
  472
  349
  220
  84
  -60
  -210
  -368
  -538
  -768
  -1,009
  -1,262
  -1,528
  -1,808
  -2,102
  -2,410
  -2,735
  -3,075
Maintenance CAPEX, $m
  0
  -72
  -73
  -76
  -80
  -83
  -87
  -91
  -95
  -99
  -104
  -108
  -114
  -119
  -125
  -130
  -137
  -143
  -150
  -158
  -165
  -173
  -182
  -191
  -200
  -210
  -220
  -231
  -242
  -254
  -267
New CAPEX, $m
  -92
  -9
  -15
  -16
  -17
  -18
  -19
  -20
  -22
  -23
  -24
  -25
  -27
  -28
  -30
  -31
  -33
  -35
  -36
  -38
  -40
  -42
  -45
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
Cash from investing activities, $m
  -804
  -81
  -88
  -92
  -97
  -101
  -106
  -111
  -117
  -122
  -128
  -133
  -141
  -147
  -155
  -161
  -170
  -178
  -186
  -196
  -205
  -215
  -227
  -238
  -249
  -262
  -274
  -288
  -302
  -317
  -333
Free cash flow, $m
  1,167
  1,380
  1,484
  1,415
  1,341
  1,264
  1,182
  1,096
  1,005
  909
  808
  672
  560
  442
  318
  187
  50
  -94
  -246
  -406
  -574
  -754
  -994
  -1,246
  -1,511
  -1,790
  -2,082
  -2,390
  -2,713
  -3,052
  -3,409
Issuance/(repayment) of debt, $m
  816
  -1,696
  5,420
  5,756
  6,104
  6,466
  6,841
  7,232
  7,639
  8,063
  8,506
  8,968
  9,451
  9,956
  10,485
  11,038
  11,616
  12,223
  12,858
  13,523
  14,220
  14,951
  15,717
  16,521
  17,363
  18,247
  19,174
  20,147
  21,168
  22,238
  23,362
Issuance/(repurchase) of shares, $m
  -1,698
  6,562
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  22
  171
  328
  493
  666
  848
  1,039
  1,239
  1,450
  1,675
  1,962
  2,264
  2,581
  2,914
  3,264
  3,631
  4,017
  4,423
  4,848
Cash from financing (excl. dividends), $m  
  -652
  4,866
  5,420
  5,756
  6,104
  6,466
  6,841
  7,232
  7,639
  8,063
  8,506
  8,968
  9,473
  10,127
  10,813
  11,531
  12,282
  13,071
  13,897
  14,762
  15,670
  16,626
  17,679
  18,785
  19,944
  21,161
  22,438
  23,778
  25,185
  26,661
  28,210
Total cash flow (excl. dividends), $m
  440
  6,247
  6,904
  7,171
  7,446
  7,730
  8,023
  8,328
  8,644
  8,972
  9,314
  9,640
  10,034
  10,570
  11,131
  11,718
  12,332
  12,976
  13,650
  14,356
  15,096
  15,872
  16,686
  17,539
  18,433
  19,372
  20,356
  21,389
  22,472
  23,609
  24,802
Retained Cash Flow (-), $m
  925
  -8,080
  -602
  -640
  -678
  -718
  -760
  -804
  -849
  -896
  -945
  -996
  -1,050
  -1,106
  -1,165
  -1,226
  -1,291
  -1,358
  -1,429
  -1,503
  -1,580
  -1,675
  -1,962
  -2,264
  -2,581
  -2,914
  -3,264
  -3,631
  -4,017
  -4,423
  -4,848
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -1,833
  6,301
  6,531
  6,767
  7,011
  7,263
  7,524
  7,795
  8,076
  8,369
  8,644
  8,983
  9,464
  9,966
  10,491
  11,042
  11,618
  12,221
  12,854
  13,516
  14,197
  14,723
  15,275
  15,852
  16,458
  17,092
  17,757
  18,455
  19,186
  19,954
Discount rate, %
 
  9.50
  9.98
  10.47
  11.00
  11.55
  12.12
  12.73
  13.37
  14.04
  14.74
  15.47
  16.25
  17.06
  17.91
  18.81
  19.75
  20.74
  21.77
  22.86
  24.01
  25.21
  26.47
  27.79
  29.18
  30.64
  32.17
  33.78
  35.47
  37.24
  39.10
PV of cash for distribution, $m
 
  -1,674
  5,210
  4,844
  4,458
  4,060
  3,655
  3,252
  2,857
  2,477
  2,116
  1,776
  1,475
  1,221
  992
  791
  617
  472
  352
  257
  183
  126
  84
  54
  34
  21
  12
  7
  4
  2
  1
Current shareholders' claim on cash, %
  100
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.7
  77.4
  77.0
  76.5
  75.9
  75.2
  74.3
  73.5
  72.5
  71.4
  70.2
  69.0
  67.7
  66.3
  64.9
  63.5
  62.0
  60.4

Ameriprise Financial, Inc. is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services. The retail products and services that use the Ameriprise Financial brand include those that it provides through its advisors (financial planning, investment advisory accounts and retail brokerage services) and products and services that the Company markets directly to consumers or through affinity groups (personal auto and home insurance). The Company uses its RiverSource brand for its annuity and protection products issued by the RiverSource Life companies, including its life and disability income insurance products.

FINANCIAL RATIOS  of  Ameriprise Financial (AMP)

Valuation Ratios
P/E Ratio 18.2
Price to Sales 2
Price to Book 3.8
Price to Tangible Book
Price to Cash Flow 12.1
Price to Free Cash Flow 12.7
Growth Rates
Sales Growth Rate -3.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -30.8%
Cap. Spend. - 3 Yr. Gr. Rate -2.6%
Financial Strength
Quick Ratio 0
Current Ratio NaN
LT Debt to Equity 83.2%
Total Debt to Equity 245.9%
Interest Coverage 11
Management Effectiveness
Return On Assets 1%
Ret/ On Assets - 3 Yr. Avg. 1.1%
Return On Total Capital 5.5%
Ret/ On T. Cap. - 3 Yr. Avg. 6%
Return On Equity 19.5%
Return On Equity - 3 Yr. Avg. 19.9%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 44.5%
Gross Margin - 3 Yr. Avg. 48.3%
EBITDA Margin 17.1%
EBITDA Margin - 3 Yr. Avg. 20.8%
Operating Margin 15.6%
Oper. Margin - 3 Yr. Avg. 19.9%
Pre-Tax Margin 13.6%
Pre-Tax Margin - 3 Yr. Avg. 17.3%
Net Profit Margin 11.2%
Net Profit Margin - 3 Yr. Avg. 12.4%
Effective Tax Rate 17.5%
Eff/ Tax Rate - 3 Yr. Avg. 20%
Payout Ratio 36.5%

AMP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AMP stock intrinsic value calculation we used $11735 million for the last fiscal year's total revenue generated by Ameriprise Financial. The default revenue input number comes from 2016 income statement of Ameriprise Financial. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AMP stock valuation model: a) initial revenue growth rate of 4.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 9.5%, whose default value for AMP is calculated based on our internal credit rating of Ameriprise Financial, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ameriprise Financial.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AMP stock the variable cost ratio is equal to 79.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for AMP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Ameriprise Financial.

Corporate tax rate of 27% is the nominal tax rate for Ameriprise Financial. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AMP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AMP are equal to 3%.

Life of production assets of 3.7 years is the average useful life of capital assets used in Ameriprise Financial operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AMP is equal to 50%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $6292 million for Ameriprise Financial - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 149.948 million for Ameriprise Financial is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ameriprise Financial at the current share price and the inputted number of shares is $23.1 billion.

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COMPANY NEWS

▶ How Wall Street Analysts View Asset Managers   [Sep-21-17 09:06AM  Market Realist]
▶ Boston investor acquires Houston firm with stake in DFW real estate   [Sep-20-17 04:30PM  American City Business Journals]
▶ Ameriprise Financial Named a "2017 Best Place to Work"   [Aug-18-17 09:45AM  Business Wire]
▶ Investing in Asset Managers   [Aug-09-17 12:59PM  Forbes]
▶ Insights into Blackstones Dividend Distribution   [Jul-28-17 10:36AM  Market Realist]
▶ Ameriprise Loses 12b-1 Fees But Boosts Productivity   [Jul-27-17 02:19PM  Barrons.com]
▶ Ameriprise beats 2Q profit forecasts   [Jul-25-17 09:21PM  Associated Press]
▶ Behind Analysts Positive Ratings   [Jul-10-17 10:37AM  Market Realist]
▶ This is what siblings argue about when it comes to money   [Jun-21-17 12:14PM  MarketWatch]
▶ Financial sector up over 5%   [Jun-20-17 09:32AM  CNBC Videos]
▶ Janus-Henderson Merger: The Wait Is Over   [Jun-13-17 04:56PM  Market Realist]
▶ Does the Nasdaq rally have legs?   [Apr-25-17 07:17PM  CNBC Videos]
▶ Ameriprise beats 1Q profit forecasts   [Apr-24-17 05:06PM  Associated Press]
▶ Local investment firm acquired by its competitor Ameriprise Financial   [04:01PM  American City Business Journals]
▶ Top 7 Financial Stocks to Own for 2017   [Apr-21-17 12:45PM  TheStreet.com]
▶ Here's how you should spend your tax refund   [Apr-14-17 11:37AM  Fox Business Videos]
▶ Put Your Money Where Your Faith Is   [11:08AM  The Wall Street Journal]
Financial statements of AMP
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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