【精品】同洲电子财务分析.doc

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1、第三讲比较市盈率（计算市盈率）3月11日股价每股收益市盈率营运利润率同洲电子14.140.2850.54.33烽火通信28.550.5948.394.87闽福发A10.370.08129.6316.10宁通信B4.310.0761.581.06ST太光12.47-0.07-17£2电子城12.26-0.36-20.95三维通信27.950.5649.9111.34南京熊猫8.78-0.071.73新海宜16.990.3844.7121.53中兴通讯44.401.11402.81•ST波导4.92-0.2

2、1-9.19股价每股收益市盈率营运利润率万科A9.500.5517.2717.77保利地产19.771.0618.6522.71招商局B17.001.1914.2936.11泛海建设12.270.1868.1725.16上实发展13.010.2356.5714.45金地集团13.600.5624.2915.70浙江广厦7.740.5015.4814.41广宇集团9.050.3327.4216.27世茂股份14.570.1597.1328.56金融街10.820.6516.6524.50中粮地产9.500

3、.09105.5619.14怎么判断市盈率高低？首先，公司没有成长，应该是多少?要求收益率。高市盈率要求高成长性。如何判断市盈率的成长率?可以从财务指标上判断成长性吗？看两个公司：佛山照明(000541)和嘉宝实业(600622)佛山照明净资产增长率总资产增长率营业收入增长率营业利润增长率税后利润增长率0.23740.30410.0540.57280.53870.55160.4659-0.04940.18910.17850.05210.0948-0・0567-0.49560.05020.03-0.028

4、60.11770.4862-0.22340.040.02250.12890.09350.10860.05780.03310.19510.11620.07490-0.01140.0006-0.006200.61390.55030.36610.11320.08840.03090.0470.16240.16650.17680.11860.02780.06630.11260.10510.03330.04520.19480.0870.02670.03270.0163-0.005-0.1184-0.04620.03

5、80.0370.0129-0.20870.08550.27540.27620.21671.41130.8064-0.1278-0.16590.1488-0.4515-0.47450.132260.1142866670.1035466670.1378666670.099713333最后一行为算术平均值。嘉宝实业0.18740.3257-0.2819-0.99990.24080.44590.34730.64780.00010.14540.32430.20130.3704-0.0004-0.22990.345

6、60.0821-0.3444-1.41280.28660.4675-0.0524-0.45970.9745-0.1232-0.1524-0.1062-0.0694-0.0787-0.9276-0.1676-0.13840.03860.8712-22.0814-0.272-0.3099-0.16470.00240.65570.10610.17910.3473-0.8916-1.09170.14850.165-0.0022-0.87931.82630.17940.01510.4542-33.61820.05

7、550.14970.21450.1291-0.01310.4730.16170.21210.3263-1.53150.52851.26950.56590.5023-13.99311.01810.06820.24780.0508-0.34540.04770.2174533330.1299333330.102966667-3.461053333-1.278413333比较两个公司的成长性（％）净资产总资产营业收入营业利润税收利润佛山13.2211.4310.3513.7910.00嘉宝21.7512.991

8、0.30-346.11-127.84杜邦公司数据year2000200120022003200420052006debtratio66%64%74%74%68%73%70%ROA8.7416.976.140.394.0510.710.48ROE25.9247.3623.441.4612.6739.7535.33Currentratio1.261.831.91.421.921.671.62P/E21.910.0747.3327.5320.63