Intrinsic value of Ameriprise Financial - AMP

Previous Close

$138.66

  Intrinsic Value

$25.66

stock screener

  Rating & Target

str. sell

-81%

Previous close

$138.66

 
Intrinsic value

$25.66

 
Up/down potential

-81%

 
Rating

str. sell

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

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 2017), $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 20.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.80
  3.02
  3.22
  3.40
  3.56
  3.70
  3.83
  3.95
  4.05
  4.15
  4.23
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.82
  4.84
  4.86
  4.87
  4.88
  4.90
Revenue, $m
  12,364
  12,737
  13,147
  13,594
  14,077
  14,598
  15,157
  15,756
  16,394
  17,074
  17,797
  18,564
  19,377
  20,237
  21,147
  22,109
  23,124
  24,195
  25,325
  26,516
  27,771
  29,093
  30,484
  31,949
  33,491
  35,112
  36,818
  38,612
  40,498
  42,481
Variable operating expenses, $m
  9,762
  10,051
  10,368
  10,713
  11,087
  11,490
  11,923
  12,386
  12,880
  13,406
  13,769
  14,363
  14,992
  15,658
  16,362
  17,106
  17,891
  18,720
  19,594
  20,516
  21,487
  22,509
  23,586
  24,719
  25,912
  27,166
  28,486
  29,874
  31,333
  32,868
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
  9,762
  10,051
  10,368
  10,713
  11,087
  11,490
  11,923
  12,386
  12,880
  13,406
  13,769
  14,363
  14,992
  15,658
  16,362
  17,106
  17,891
  18,720
  19,594
  20,516
  21,487
  22,509
  23,586
  24,719
  25,912
  27,166
  28,486
  29,874
  31,333
  32,868
Operating income, $m
  2,602
  2,686
  2,779
  2,880
  2,990
  3,107
  3,234
  3,369
  3,514
  3,668
  4,027
  4,201
  4,385
  4,580
  4,786
  5,003
  5,233
  5,475
  5,731
  6,001
  6,285
  6,584
  6,899
  7,230
  7,579
  7,946
  8,332
  8,738
  9,165
  9,613
EBITDA, $m
  17,754
  18,290
  18,879
  19,520
  20,215
  20,963
  21,766
  22,625
  23,542
  24,518
  25,556
  26,658
  27,825
  29,060
  30,367
  31,748
  33,206
  34,744
  36,367
  38,077
  39,879
  41,777
  43,776
  45,879
  48,092
  50,421
  52,870
  55,446
  58,155
  61,002
Interest expense (income), $m
  163
  2,055
  2,014
  2,029
  2,046
  2,065
  2,085
  2,107
  2,130
  2,155
  2,181
  2,210
  2,240
  2,272
  2,306
  2,341
  2,379
  2,419
  2,462
  2,506
  2,553
  2,603
  2,655
  2,710
  2,768
  2,829
  2,893
  2,961
  3,032
  3,107
  3,185
Earnings before tax, $m
  547
  673
  750
  834
  925
  1,023
  1,127
  1,240
  1,359
  1,486
  1,818
  1,961
  2,113
  2,274
  2,444
  2,624
  2,814
  3,014
  3,225
  3,447
  3,682
  3,928
  4,188
  4,462
  4,750
  5,052
  5,371
  5,706
  6,058
  6,428
Tax expense, $m
  148
  182
  203
  225
  250
  276
  304
  335
  367
  401
  491
  530
  571
  614
  660
  708
  760
  814
  871
  931
  994
  1,061
  1,131
  1,205
  1,282
  1,364
  1,450
  1,541
  1,636
  1,736
Net income, $m
  399
  491
  548
  609
  675
  746
  823
  905
  992
  1,085
  1,327
  1,432
  1,543
  1,660
  1,784
  1,915
  2,054
  2,200
  2,354
  2,516
  2,688
  2,868
  3,057
  3,257
  3,467
  3,688
  3,921
  4,165
  4,422
  4,692

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  10,594
  10,914
  11,266
  11,648
  12,063
  12,509
  12,988
  13,501
  14,048
  14,631
  15,250
  15,907
  16,604
  17,341
  18,121
  18,945
  19,815
  20,733
  21,701
  22,722
  23,797
  24,930
  26,122
  27,377
  28,698
  30,088
  31,549
  33,086
  34,703
  36,402
Adjusted assets (=assets-cash), $m
  10,594
  10,914
  11,266
  11,648
  12,063
  12,509
  12,988
  13,501
  14,048
  14,631
  15,250
  15,907
  16,604
  17,341
  18,121
  18,945
  19,815
  20,733
  21,701
  22,722
  23,797
  24,930
  26,122
  27,377
  28,698
  30,088
  31,549
  33,086
  34,703
  36,402
Revenue / Adjusted assets
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
  1.167
Average production assets, $m
  149,564
  154,081
  159,040
  164,441
  170,289
  176,592
  183,357
  190,595
  198,320
  206,545
  215,288
  224,566
  234,399
  244,809
  255,817
  267,449
  279,731
  292,691
  306,359
  320,767
  335,947
  351,936
  368,770
  386,490
  405,136
  424,753
  445,387
  467,086
  489,903
  513,890
Working capital, $m
  -145,435
  -149,827
  -154,648
  -159,901
  -165,588
  -171,716
  -178,294
  -185,333
  -192,844
  -200,843
  -209,344
  -218,366
  -227,928
  -238,049
  -248,754
  -260,065
  -272,008
  -284,610
  -297,901
  -311,910
  -326,672
  -342,219
  -358,588
  -375,819
  -393,950
  -413,025
  -433,090
  -454,190
  -476,377
  -499,702
Total debt, $m
  37,288
  37,576
  37,892
  38,236
  38,609
  39,011
  39,442
  39,904
  40,396
  40,921
  41,478
  42,070
  42,696
  43,360
  44,062
  44,803
  45,586
  46,413
  47,284
  48,203
  49,170
  50,190
  51,263
  52,393
  53,581
  54,832
  56,147
  57,531
  58,985
  60,515
Total liabilities, $m
  9,535
  9,823
  10,139
  10,483
  10,856
  11,258
  11,689
  12,151
  12,643
  13,168
  13,725
  14,317
  14,943
  15,607
  16,309
  17,050
  17,833
  18,660
  19,531
  20,450
  21,417
  22,437
  23,510
  24,640
  25,828
  27,079
  28,394
  29,778
  31,232
  32,762
Total equity, $m
  1,059
  1,091
  1,127
  1,165
  1,206
  1,251
  1,299
  1,350
  1,405
  1,463
  1,525
  1,591
  1,660
  1,734
  1,812
  1,894
  1,981
  2,073
  2,170
  2,272
  2,380
  2,493
  2,612
  2,738
  2,870
  3,009
  3,155
  3,309
  3,470
  3,640
Total liabilities and equity, $m
  10,594
  10,914
  11,266
  11,648
  12,062
  12,509
  12,988
  13,501
  14,048
  14,631
  15,250
  15,908
  16,603
  17,341
  18,121
  18,944
  19,814
  20,733
  21,701
  22,722
  23,797
  24,930
  26,122
  27,378
  28,698
  30,088
  31,549
  33,087
  34,702
  36,402
Debt-to-equity ratio
  35.200
  34.430
  33.640
  32.830
  32.010
  31.190
  30.370
  29.560
  28.760
  27.970
  27.200
  26.450
  25.710
  25.000
  24.320
  23.650
  23.010
  22.390
  21.790
  21.210
  20.660
  20.130
  19.620
  19.140
  18.670
  18.220
  17.800
  17.390
  17.000
  16.620
Adjusted equity ratio
  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
  399
  491
  548
  609
  675
  746
  823
  905
  992
  1,085
  1,327
  1,432
  1,543
  1,660
  1,784
  1,915
  2,054
  2,200
  2,354
  2,516
  2,688
  2,868
  3,057
  3,257
  3,467
  3,688
  3,921
  4,165
  4,422
  4,692
Depreciation, amort., depletion, $m
  15,152
  15,604
  16,100
  16,640
  17,225
  17,855
  18,532
  19,255
  20,028
  20,851
  21,529
  22,457
  23,440
  24,481
  25,582
  26,745
  27,973
  29,269
  30,636
  32,077
  33,595
  35,194
  36,877
  38,649
  40,514
  42,475
  44,539
  46,709
  48,990
  51,389
Funds from operations, $m
  15,552
  16,095
  16,647
  17,249
  17,900
  18,602
  19,355
  20,160
  21,020
  21,936
  22,856
  23,888
  24,983
  26,141
  27,366
  28,660
  30,027
  31,469
  32,990
  34,593
  36,282
  38,061
  39,934
  41,906
  43,981
  46,164
  48,459
  50,874
  53,413
  56,082
Change in working capital, $m
  -3,961
  -4,392
  -4,821
  -5,252
  -5,687
  -6,128
  -6,578
  -7,039
  -7,511
  -7,999
  -8,501
  -9,022
  -9,561
  -10,122
  -10,704
  -11,311
  -11,943
  -12,602
  -13,291
  -14,010
  -14,761
  -15,547
  -16,370
  -17,230
  -18,131
  -19,075
  -20,064
  -21,100
  -22,187
  -23,325
Cash from operations, $m
  19,513
  20,487
  21,469
  22,501
  23,587
  24,730
  25,933
  27,199
  28,532
  29,934
  31,357
  32,910
  34,544
  36,263
  38,070
  39,971
  41,970
  44,071
  46,281
  48,603
  51,044
  53,609
  56,304
  59,136
  62,112
  65,239
  68,524
  71,974
  75,599
  79,407
Maintenance CAPEX, $m
  -14,549
  -14,956
  -15,408
  -15,904
  -16,444
  -17,029
  -17,659
  -18,336
  -19,059
  -19,832
  -20,655
  -21,529
  -22,457
  -23,440
  -24,481
  -25,582
  -26,745
  -27,973
  -29,269
  -30,636
  -32,077
  -33,595
  -35,194
  -36,877
  -38,649
  -40,514
  -42,475
  -44,539
  -46,709
  -48,990
New CAPEX, $m
  -4,075
  -4,517
  -4,958
  -5,401
  -5,848
  -6,302
  -6,765
  -7,238
  -7,725
  -8,226
  -8,743
  -9,278
  -9,833
  -10,409
  -11,008
  -11,632
  -12,282
  -12,960
  -13,668
  -14,408
  -15,180
  -15,989
  -16,834
  -17,719
  -18,646
  -19,617
  -20,634
  -21,700
  -22,817
  -23,987
Cash from investing activities, $m
  -18,624
  -19,473
  -20,366
  -21,305
  -22,292
  -23,331
  -24,424
  -25,574
  -26,784
  -28,058
  -29,398
  -30,807
  -32,290
  -33,849
  -35,489
  -37,214
  -39,027
  -40,933
  -42,937
  -45,044
  -47,257
  -49,584
  -52,028
  -54,596
  -57,295
  -60,131
  -63,109
  -66,239
  -69,526
  -72,977
Free cash flow, $m
  889
  1,014
  1,102
  1,196
  1,294
  1,399
  1,509
  1,625
  1,747
  1,877
  1,960
  2,103
  2,254
  2,414
  2,581
  2,757
  2,943
  3,138
  3,343
  3,559
  3,786
  4,025
  4,276
  4,540
  4,817
  5,108
  5,414
  5,736
  6,074
  6,429
Issuance/(repayment) of debt, $m
  -768
  288
  316
  344
  373
  402
  431
  461
  492
  524
  557
  591
  627
  664
  702
  742
  783
  826
  871
  919
  968
  1,019
  1,073
  1,130
  1,189
  1,251
  1,315
  1,383
  1,455
  1,529
Issuance/(repurchase) of shares, $m
  660
  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 from financing (excl. dividends), $m  
  -108
  288
  316
  344
  373
  402
  431
  461
  492
  524
  557
  591
  627
  664
  702
  742
  783
  826
  871
  919
  968
  1,019
  1,073
  1,130
  1,189
  1,251
  1,315
  1,383
  1,455
  1,529
Total cash flow (excl. dividends), $m
  781
  1,302
  1,419
  1,540
  1,667
  1,800
  1,940
  2,086
  2,240
  2,401
  2,517
  2,695
  2,881
  3,077
  3,283
  3,499
  3,726
  3,964
  4,215
  4,478
  4,754
  5,044
  5,349
  5,669
  6,006
  6,359
  6,730
  7,119
  7,529
  7,958
Retained Cash Flow (-), $m
  -1,059
  -32
  -35
  -38
  -41
  -45
  -48
  -51
  -55
  -58
  -62
  -66
  -70
  -74
  -78
  -82
  -87
  -92
  -97
  -102
  -108
  -113
  -119
  -126
  -132
  -139
  -146
  -154
  -162
  -170
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
  120
  124
  127
  131
  136
  141
  146
  152
  158
  164
  171
  178
  186
  194
  202
  211
  221
  231
  242
  253
  265
  278
  291
  305
  319
  335
  351
  368
  386
  405
Cash available for distribution, $m
  -279
  1,270
  1,383
  1,502
  1,626
  1,756
  1,892
  2,035
  2,185
  2,343
  2,455
  2,629
  2,812
  3,003
  3,205
  3,417
  3,639
  3,873
  4,118
  4,376
  4,647
  4,931
  5,230
  5,544
  5,874
  6,220
  6,584
  6,966
  7,367
  7,788
Discount rate, %
  12.30
  12.92
  13.56
  14.24
  14.95
  15.70
  16.48
  17.31
  18.17
  19.08
  20.04
  21.04
  22.09
  23.19
  24.35
  25.57
  26.85
  28.19
  29.60
  31.08
  32.64
  34.27
  35.98
  37.78
  39.67
  41.65
  43.73
  45.92
  48.22
  50.63
PV of cash for distribution, $m
  -248
  996
  945
  882
  810
  732
  650
  568
  486
  409
  329
  266
  210
  162
  122
  89
  64
  44
  30
  20
  12
  8
  4
  3
  1
  1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

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 16.3
Price to Sales 1.8
Price to Book 3.4
Price to Tangible Book
Price to Cash Flow 10.9
Price to Free Cash Flow 11.4
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 $12027 million for the last fiscal year's total revenue generated by Ameriprise Financial. The default revenue input number comes from 2017 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 2.8% 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 12.3%, 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%.

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 5.4% 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 1%.

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 1209.7%.

Life of production assets of 10 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 -1176.3%. 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 - $0 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 148 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 $20.5 billion.

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COMPANY NEWS

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▶ Ameriprise: 2Q Earnings Snapshot   [Jul-24-18 04:29PM  Associated Press]
▶ Final Trade: AMP, EEM & more   [May-30-18 05:30PM  CNBC Videos]
▶ Ameriprise shareholders revolt over pay for top executives   [Apr-30-18 09:01AM  American City Business Journals]
▶ Ameriprise Financial Earns Top Marks for Customer Service   [Apr-24-18 01:00PM  Business Wire]
▶ Ameriprise beats earnings expectations, raises dividend   [Apr-23-18 05:07PM  MarketWatch]
▶ Ameriprise: 1Q Earnings Snapshot   [04:39PM  Associated Press]
▶ AMP CEO Resigns Amid Banking Scandal   [Apr-19-18 11:26PM  Bloomberg Video]
▶ April Top Cheap Dividend Paying Stocks   [Apr-16-18 04:05PM  Simply Wall St.]
▶ Australian banks face some near-term headwinds: Analyst   [Apr-15-18 06:54PM  CNBC Videos]
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▶ Raymond James, Ameriprise Embrace Broker Protocol   [Jan-25-18 06:25PM  Barrons.com]
▶ Whats behind Carlyles Higher Valuation   [07:31AM  Market Realist]
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