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图602020财年以来ROIC整体持续上行,体现资本配置效率
图602020财年以来ROIC整体持续上行,体现资本配置效率
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图片大小:96KB
图片尺寸:1708*811
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所属报告:
VISA VISA-美股公司首次覆盖:数字支付全球领导者多维布局打开万亿市场-250424(50页).pdf
打包全文图表
相关数据
18A-25A上市银行营收同比增速与国债利率、ROIC的相关性(剔除上市后第一年业绩)
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行业数据
2026-07-10
原图定位
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ROIC/国债利率仍处于历史高位
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行业数据
2026-07-01
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2025年公平均ROIC达12.9%
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行业数据
2026-05-15
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ROIC 和 ROCE: 2016年至2025年间,ROIC和ROCE均显示出资源效率的增强趋势
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行业数据
2026-03-11
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2020~2024主要软饮料企业ROIC(%)
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行业数据
2026-03-11
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2005~2024年怪物饮料ROIC(%)
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行业数据
2026-03-11
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各厂商ROIC情况
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行业数据
2026-03-09
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2021年-2025年第三季度美容护理板块平均ROIC情况(单位:%)
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行业数据
2026-03-06
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2017-2025Q3百胜中国ROIC
fCDlubTku70gICAgICAgfCBST0lDICAgfAp8LS0tLS0tLS0tLS0tfC0tLS0tLS0tfAp8IDIwMTcgICAgICAgfCAxNC42JSAgfAp8IDIwMTggICAgICAgfCAyNS4zJSAgfAp8IDIwMTkgICAgICAgfCAyNC4zJSAgfAp8IDIwMjAgICAgICAgfCAxNy4yJSAgfAp8IDIwMjEgICAgICAgfCAxNS4yJSAgfAp8IDIwMjIgICAgICAgfCA2LjglICAgfAp8IDIwMjMgICAgICAgfCAxMy4wJSAgfAp8IDIwMjQgICAgICAgfCAxNC45JSAgfAp8IDIwMjVRMSAtIDMgfCAxOC41JSAgfAoK6LWE5paZ5p2l5rqQ77ya55m+6IOc5Lit5Zu95oub6IKh5Lmm77yMaWZpbmTvvIzopb/pg6jor4HliLjnoJTlj5HkuK3lv4M=
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行业数据
2026-02-02
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新和成与国内化工细分领域龙头企业ROIC水平
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行业数据
2026-01-07
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新和成毛利率、净利率、ROE(加权)和ROIC水平
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行业数据
2026-01-07
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上市银行对公贷款及分行业不良率,2021年以来企业ROIC基本能够覆盖融资成本
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行业数据
2025-12-08
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公司投入资本回报ROIC情况
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其它
2025-09-08
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图表16.南方航空净ROE和ROIC情况
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行业数据
2025-08-25
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最新数据
全球全年龄段奶粉市场规模(亿美元)
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行业数据
2026-07-30
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全球酸奶及发酵乳制品市场规模(亿美元)
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行业数据
2026-07-30
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2026-07-30
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全球益生菌膳食补充剂市场规模及增速
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行业数据
2026-07-30
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行业数据
2026-07-30
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4.5 ROIC 整体持续上行,彰显资本配置效率 自 2020 财年以来,VISA 的投资资本回报率(ROIC)持续保持高位并呈现稳中有升趋势。截至 2024 财年,VISA ROIC 已达 40.5%,较 2023 财年的 37.5%进一步上升。ROIC的持续提升主要受益于四方面因素:其一,全球交易量稳步增长带来显著规模效应,使单位成本下降,运营杠杆效应增强;其二,公司持续投入于支付技术与平台数字化转型,网络效应提升客户黏性与网络附加值;其三,通过战略性并购(如收购 Tink、Pismo 等),VISA 不断延伸业务边界,拓展中长期利润来源;其四,公司延续高强度的股票回购策略,通过现金持续回购普通股,有效压降投入资本分母端增速,在保持利润增长的同时拉动 ROIC 上行。我们预期 FY25-FY27 公司的 ROIC 分别为47.4%/50.0%/51.6%。
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VISA VISA-美股公司首次覆盖:数字支付全球领导者多维布局打开万亿市场-250424(50页).pdf
表9VISA三类股结构
表8VISA前十大股东(截至到2024财年末)
表7VISA自2005年以来的重要诉讼案件
表5比较TaptoPay与TaptoEverything
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