返回排名列表

Gen Digital Inc. (GEN)

被低估
TechnologySoftware - InfrastructureUnited States

基本面

81

价格

$22.02

市值

$13.81B

第一部分 · 这家公司值多少

概览

Gen Digital sells consumer-facing cybersecurity and identity-protection software under well-known brands — Norton, Avast, LifeLock, AVG, Avira and CCleaner — plus, since 2025, financial-wellness and lending products through its MoneyLion acquisition. Its core products protect a device or an identity: antivirus, VPN, dark-web monitoring and identity-theft insurance, sold mainly as subscriptions that renew automatically each year.

盈利方式

Most revenue is the Cyber Safety Platform: subscription fees for security, privacy and identity-protection software, billed annually or monthly and renewed automatically unless a customer cancels. Trust-Based Solutions, built mainly around the 2025 MoneyLion acquisition, adds lending, credit and financial-wellness products aimed at the same subscriber base. Because software costs little to serve an additional customer, high subscriber retention converts almost directly into profit.

分部营收

Cyber Safety Platform66.8%

Subscription antivirus, VPN, identity-theft protection and related security software sold under the Norton, Avast, LifeLock, AVG and Avira brands.

Trust-Based Solutions33.2%

Lending, credit and financial-wellness products, built mainly through the 2025 acquisition of MoneyLion and sold to the same consumer base.

护城河

品牌 · 狭窄

Norton and Avast are among the most recognised names in consumer security, built over decades, and that recognition plus auto-renewing subscriptions gives Gen a retention edge that a newer competitor has to fight for. But operating systems increasingly bundle native security features for free, and switching to a competing or free tool costs a consumer little, so the advantage is narrow.

需求驱动因素

中度周期性

Demand is driven less by economic cycles than by the growing volume of online fraud, identity theft and AI-enabled scams, which keeps consumers renewing protection subscriptions. Growth still slows when discretionary consumer spending tightens, since a security subscription is one of the easier line items for a household to cancel, but auto-renewal defaults make revenue comparatively sticky.

主要风险

  • Native operating-system security — Major operating system vendors increasingly bundle security features for free, eroding the case for a paid third-party subscription among price-sensitive consumers.
  • Cybersecurity and AI-threat evolution — The company must continuously counter cybersecurity threats and AI-enabled attacks; a service disruption or failure to keep pace with new threats would damage the trust the business depends on.
  • Subscriber renewal dependence — Revenue and results depend heavily on retaining existing subscribers and expanding what they buy; a rise in cancellations or weaker renewal rates directly reduces recurring revenue.
  • Integration of the fintech expansion — Extending into lending and financial-wellness products through the MoneyLion acquisition takes the company into new regulatory and credit-risk territory outside its historical security business.

客户集中度

Gen Digital sells to tens of millions of individual consumer subscribers, with over 40 million direct customers cited in its filings, and has no material reliance on any single customer.

看多理由

Buyers argue that Gen's trusted, decades-old brands and large subscriber base give it a retention advantage in security, and that pairing that base with MoneyLion's financial-wellness products opens a second growth avenue beyond a maturing core antivirus market.

看空理由

Sellers worry that free, built-in security from operating systems keeps eroding the case for a paid subscription, and that expanding into consumer lending through MoneyLion adds credit and regulatory risks the company has little history managing.

Written by the editors, published on 2026年8月18日

Direct competitors

Who this company fights with for the same customers

Generated on 2026年9月18日 with claude-haiku-4-5 — shared with all users

McAfee Corp.Not tracked

McAfee sells the same consumer antivirus, VPN and identity-protection subscriptions as Norton and Avast, to the same households and through the same PC-maker pre-install deals.

Bitdefender S.R.L.Not tracked

Bitdefender competes for the same retail and online buyers of multi-device security suites, and is named by Gen Digital among its principal competitors in Security.

Aura (Aura Company)Not tracked

Aura sells an all-in-one identity theft, credit monitoring and online privacy subscription aimed directly at the US consumer that LifeLock serves.

Trend Micro Incorporated (トレンドマイクロ株式会社)4704.T

Trend Micro's consumer line, Trend Micro Maximum Security, competes with Norton for home device protection, especially in Japan and the rest of Asia-Pacific.

ESET, spol. s r.o.Not tracked

ESET sells consumer antivirus and privacy subscriptions through the same retail and reseller channels, with a particularly strong position in European households.

Kaspersky Lab (Лаборатория Касперского)Not tracked

Kaspersky offers directly comparable consumer security and VPN plans and competes with Norton and Avast across Europe, Latin America and emerging markets, though it no longer sells in the United States.

资产负债表与流动性

营收

$5.08B

最近12个月(截至2026/7/3)

净利润

$1.05B

最近12个月(截至2026/7/3)

自由现金流

$1.52B

股东权益合计

$2.61B

负债合计

$12.98B

流动比率

0.47

利息覆盖率

-

债务/EBITDA

3.13

每股收益

营收与净利润

自由现金流

收入构成

历史财务表

利润率变化

债务变化

债务负担有多重

增长一览表

增长 — 营业收入

公允价值估算

一般情形被低估

公允价值

$35.61

当前价格

$22.02

安全边际

+38.2%

公允价值区间

$23.15 - $48.07

所用估值方法之间的离散区间,并非经过统计校准的置信区间。

估算方法

分析师目标价:$32.56
现金流折现法(DCF):$60.58
市盈率法(P/E):$15.05
格雷厄姆成长公式:$46.59
盈利能力价值(EPV):$23.58
合理市净率(P/B):$21.60
股息折现模型(戈登模型):$6.97
P/FFO(运营资金):$39.19
周期中段收益:$29.61
市销率法(P/S):$42.99
分析师共识:买入 (9B / 7H / 0S)
最近财报超预期:+1.60%

估值指标

市盈率(P/E)

12.88

ROE

37.3%

市净率(P/B)

4.96

P/FCF

8.51

毛利率

78.0%

ROIC

12.9%

盈利能力雷达图

价值创造(经济护城河)

ROIC

12.9%

WACC

7.4%

ROIC − WACC

+5.5 pp

ROIC 超过资本成本:公司正在为股东创造价值。

基本面分析标准

通过(19)

  • EPS shows upward trend
  • EPS CAGR 7.06%
  • ROIC 12.9%
  • Gross Margin 78.0%
  • P/FCF 8.51
  • Operating Margin 41.7%
  • Positive Free Cash Flow
  • CapEx intensity
  • Debt/EBITDA
  • Return on Tangible Assets
  • DCF valuation (Undervalued)
  • ROE 41.9%
  • Revenue Growth 5Y 14.4%
  • Analyst Consensus 56% Buy
  • PEG Ratio 1.20
  • Earnings Quality (OCF/NI) 1.49
  • Share Dilution -0.7%
  • Net Margin Trend 20.7% vs 14.1%
  • Piotroski F-Score 7/9

未通过(7)

  • Price CAGR 0.94%
  • P/B Ratio 4.96
  • Debt/Equity ratio
  • Current Ratio
  • Low reliance on intangibles
  • Price below Graham Number
  • Earnings Surprise avg 1.2%

不可用(2)

  • Dividend Payout NaN%
  • Interest Coverage

Piotroski F-评分

7/9

财务状况强健

score
criteria

盈利质量

1.49

高质量:盈利有现金流支撑

股权稀释

-0.7%

正在回购股份,对股东友好

机构持股

公司治理

管理团队

姓名职位年龄
Mr. Vincent PiletteCEO, President & Chairman53
Ms. Natalie Marie DerseChief Financial Officer47
Mr. Bryan Seuk Ko J.D.COO, Chief Legal Officer & Corporate Secretary54
Mr. Benjamin Lu C.F.A.Head of Investor relations48
Spring HarrisHead of Global Corporate Communications & PR-
Ms. Kara JordanChief Human Resources Officer-
Mr. Travis WitteveenHead of Products & Portfolios55

审计风险

8

董事会风险

8

薪酬风险

10

股东权利风险

2

第二部分 · 价格与买入时机

这一部分不判断公司是否值得拥有:它帮助你在基本面说服你之后,选择何时买入。包含:技术分析、潜力、历史回撤、Gamma 敞口。

文件

  • 年度报告(10-K)

    对公司业务、财务业绩和风险的年度概述。

    提交日期:2026-05-21

    查看文件
  • 季度报告(10-Q)

    最近三个月财务表现的最新情况。

    提交日期:2026-08-07

    查看文件
  • 临时报告(8-K)

    关于重大事件(如管理层变动或重要公告)的通知。

    提交日期:2026-09-28

    查看文件

via SEC EDGAR

损益历史

via SEC EDGAR

Latest News

Recent headlines for GEN, sourced from Markets Gazette.

No recent news for GEN.