<p>两家备受关注的金融科技公司，<strong>PayPal</strong>(PYPL -0.71%) 和 <strong>西联汇款</strong>(WU -1.85%)，最近很可能吸引了价值投资者的注意。相对于基本业务基本面，这两家公司的估值看起来很有吸引力。更重要的是，这两家公司都在大量回购股票，表明管理层认为股价被低估。</p>
<p>随着 PayPal 和西联汇款刚刚发布财报，现在是比较这两只价值股，看看哪一只更值得买的好时机。</p>
<h2>PayPal：稳定增长和大量现金</h2>
<p>由于在线结账领域竞争加剧的担忧，PayPal 股价在过去三年中下跌了惊人的 75%。然而，有趣的是，公司的营收持续稳定增长。例如，2022 年和 2023 年的总收入分别同比增长了 7% 和 8%。此外，2024 年第一季度和第二季度的营收分别增长了 9% 和 8%。</p>
<p>但这些增长率明显比 2021 年的 17% 增长要低。尽管如此，PayPal 股价的 76% 下跌可能已经足够弥补了这种放缓。如今，尽管营收稳定以高个位数增长，最近一个季度每股收益增长了 17%，但 PayPal 的市盈率仅为 16。考虑到其保守的估值以及不断增长的业务，PayPal 股票看起来相当具有吸引力。</p>
<p>PayPal 股票特别吸引人的一个方面是其现金充裕。截至 Q2 末，现金、现金等价物和投资总额达到 183 亿美元，远远超过 122 亿美元的总债务。</p>
<p>现金储备、稳定增长和盈利业务的结合意味着 PayPal 可以回购大量股票。事实上，仅在 Q2，它就花费了 15 亿美元回购股票。</p>
<h2>西联汇款：一个极具性价比的价值投资</h2>
<p>汇款专家西联汇款同样在回购股票。尽管迄今为止花费的 1.76 亿美元可能看起来很少，但需要一些背景信息。首先，这是在其支付的 1.59 亿美元股息之上。其次，相对于西联汇款仅有的 40 亿美元市值（与 PayPal 的 680 亿美元市值相比），这一金额相对较大。</p>
<p>在业务增长方面，西联汇款看起来并不理想。第二季度营收同比下降了 9%。但公司的盈利似乎已经稳定下来。2023 年每股收益为 1.68 美元，管理层预计 2024 年全年每股收益将在 1.62 美元至 1.72 美元之间。</p>
<p>对于对西联汇款感兴趣的投资者来说，股价低得足以弥补其相对于 PayPal 的业务增长劣势。股票交易仅为盈利的 7 倍。</p>
<h2>哪只股票更值得买？</h2>
<p>考虑到 PayPal 的市盈率比西联汇款高出 130%，这两只股票中更便宜的股票可能看起来更值得购买。西联汇款的极低市盈率不仅使股票看起来具有吸引力，而且每当公司支付季度股息时，西联汇款股东的风险都会减少一些。西联汇款的股息率为 7.3%，其股息支付可圈可点。当然，公司有可能暂停或减少股息。因此，投资者将不得不密切关注是否会发生这种情况。如果发生，股东可能被迫调整他们的投资论点。</p>
<p>总的来说，西联汇款股票极具性价比的估值和强劲的股息结合在一起，使其成为这两只价值股中更值得购买的股票。</p>

西联汇款

PYPL

<p>PayPal 和西联汇款，都是被低估的价值股，吸引了投资者的关注。PayPal 具有稳定增长和强劲的现金头寸，而西联汇款则提供低市盈率和丰厚的股息。以市盈率溢价 130%，西联汇款似乎是更好的选择</p>

<p>Two beat-up fintech companies, <strong>PayPal</strong>(PYPL -0.71%) and <strong>Western Union</strong>(WU -1.85%), have likely attracted attention from value investors lately. Both stocks' valuations look appealing relative to underlying business fundamentals. Even more, both companies are buying back stock in droves, suggesting management thinks shares are undervalued.</p>
<div class="lb-trans"><p>两家备受关注的金融科技公司，<strong>PayPal</strong>(PYPL -0.71%) 和 <strong>西联汇款</strong>(WU -1.85%)，最近很可能吸引了价值投资者的注意。相对于基本业务基本面，这两家公司的估值看起来很有吸引力。更重要的是，这两家公司都在大量回购股票，表明管理层认为股价被低估。</p>
</div><p>With both PayPal and Western Union having just reported earnings, it's a good time to compare these value stocks to see which one is a better buy.</p>
<div class="lb-trans"><p>随着 PayPal 和西联汇款刚刚发布财报，现在是比较这两只价值股，看看哪一只更值得买的好时机。</p>
</div><h2>PayPal: Steady growth and a ton cash</h2>
<div class="lb-trans"><h2>PayPal：稳定增长和大量现金</h2>
</div><p>Riddled by worries about increasing competition in the online checkout space, PayPal stock has fallen an incredible 75% over the past three years. Interestingly, however, the company's top line has continued to grow steadily. Total revenue in 2022 and 2023, for instance, increased 7% and 8% year over year, respectively. Further, revenue in the first and second quarters of 2024 rose 9% and 8%, respectively.</p>
<div class="lb-trans"><p>由于在线结账领域竞争加剧的担忧，PayPal 股价在过去三年中下跌了惊人的 75%。然而，有趣的是，公司的营收持续稳定增长。例如，2022 年和 2023 年的总收入分别同比增长了 7% 和 8%。此外，2024 年第一季度和第二季度的营收分别增长了 9% 和 8%。</p>
</div><p>But these growth rates are notably down quite a bit from 17% growth in 2021. With this said, a 76% decline in PayPal's stock price has arguably more than made up for this slowdown. Today, PayPal has a price-to-earnings ratio of just 16, despite growing its revenue at steady high single-digit rates and increasing its earnings per share 17% in its most recent quarter. Considering its conservative valuation alongside its growing business, shares of PayPal look quite attractive.</p>
<div class="lb-trans"><p>但这些增长率明显比 2021 年的 17% 增长要低。尽管如此，PayPal 股价的 76% 下跌可能已经足够弥补了这种放缓。如今，尽管营收稳定以高个位数增长，最近一个季度每股收益增长了 17%，但 PayPal 的市盈率仅为 16。考虑到其保守的估值以及不断增长的业务，PayPal 股票看起来相当具有吸引力。</p>
</div><p>One particularly compelling aspect of PayPal stock is that it is rich with cash. Total cash, cash equivalents, and investments totaled $18.3 billion at the end of Q2. This sum towered over total debt of $12.2 billion.</p>
<div class="lb-trans"><p>PayPal 股票特别吸引人的一个方面是其现金充裕。截至 Q2 末，现金、现金等价物和投资总额达到 183 亿美元，远远超过 122 亿美元的总债务。</p>
</div><p>A combination of a war chest of cash, steady growth, and a profitable business mean PayPal can repurchase lots of shares. Indeed, it spent $1.5 billion buying back stock in Q2 alone.</p>
<div class="lb-trans"><p>现金储备、稳定增长和盈利业务的结合意味着 PayPal 可以回购大量股票。事实上，仅在 Q2，它就花费了 15 亿美元回购股票。</p>
</div><h2>Western Union: A dirt cheap value play</h2>
<div class="lb-trans"><h2>西联汇款：一个极具性价比的价值投资</h2>
</div><p>Money transfer specialist Western Union is similarly buying back its stock. Though the $176 million it has spent on buybacks year to date may seem small, some context is in order. First, this is on top of the $159 million it has paid in dividends. Second, this sum is large relative to Western Union's market capitalization of only $4 billion (compare this to PayPal's market capitalization of $68 billion).</p>
<div class="lb-trans"><p>汇款专家西联汇款同样在回购股票。尽管迄今为止花费的 1.76 亿美元可能看起来很少，但需要一些背景信息。首先，这是在其支付的 1.59 亿美元股息之上。其次，相对于西联汇款仅有的 40 亿美元市值（与 PayPal 的 680 亿美元市值相比），这一金额相对较大。</p>
</div><p>When it comes to business growth, Western Union doesn't look so good. Second-quarter revenue decreased 9% year over year. But the company's earnings seem to have stabilized. 2023 earnings per share were $1.68 and management expects full-year 2024 earnings to be between $1.62 and $1.72.</p>
<div class="lb-trans"><p>在业务增长方面，西联汇款看起来并不理想。第二季度营收同比下降了 9%。但公司的盈利似乎已经稳定下来。2023 年每股收益为 1.68 美元，管理层预计 2024 年全年每股收益将在 1.62 美元至 1.72 美元之间。</p>
</div><p>Fortunately for investors interested in Western Union, the stock is trading low enough to make up for its inferior business growth relative to PayPal. Shares trade at just 7 times earnings.</p>
<div class="lb-trans"><p>对于对西联汇款感兴趣的投资者来说，股价低得足以弥补其相对于 PayPal 的业务增长劣势。股票交易仅为盈利的 7 倍。</p>
</div><h2>Which stock is the better buy?</h2>
<div class="lb-trans"><h2>哪只股票更值得买？</h2>
</div><p>With PayPal's price-to-earnings at a 130% premium to Western Union, the cheaper of the two stocks arguably looks a better buy. Not only does Western Union's incredibly low price-to-earnings ratio make the stock look attractive but some risk is taken off the table for Western Union shareholders every time the company pays out its quarterly dividend. With a dividend yield of 7.3%, Western Union's dividend payments are nothing to sneeze at. Of course, there's always the risk that the company will pause or reduce its dividend. So investors will have to watch closely to see if this happens. If it does, shareholders might be forced to tweak their investment thesis.</p>
<div class="lb-trans"><p>考虑到 PayPal 的市盈率比西联汇款高出 130%，这两只股票中更便宜的股票可能看起来更值得购买。西联汇款的极低市盈率不仅使股票看起来具有吸引力，而且每当公司支付季度股息时，西联汇款股东的风险都会减少一些。西联汇款的股息率为 7.3%，其股息支付可圈可点。当然，公司有可能暂停或减少股息。因此，投资者将不得不密切关注是否会发生这种情况。如果发生，股东可能被迫调整他们的投资论点。</p>
</div><p>Overall, Western Union stock's extremely cheap valuation and its robust dividend combine to make it the better buy of these two value stocks.</p>
<div class="lb-trans"><p>总的来说，西联汇款股票极具性价比的估值和强劲的股息结合在一起，使其成为这两只价值股中更值得购买的股票。</p>
</div>

PayPal vs. Western Union: Which Value Stock Is a Better Buy?

- PayPal 股票价格下跌 75%，但营收稳步增长。2022 年和 2023 年总收入分别同比增长 7% 和 8%。- PayPal 股价下跌 76%，市盈率仅为 16，现金充裕。- PayPal 在 Q2 季度仅花费 15 亿美元回购股票，具吸引力。  
- Western Union 股价便宜，市值仅 40 亿美元，但业务增长不佳。- 2023 年每股收益为 1.68 美元，2024 年预期为 1.62 至 1.72 美元。- 股价仅为盈利的 7 倍，且股息率高达 7.3%，具吸引力。

PayPal 与西联汇款：哪只价值股更值得购买？