Category: Money tips Release Date: 2007-02-27
Accounting data includes a listed company's earnings and profitability, earnings per share, gross profit and net income, net capital gains rate, and main business revenue and profits, which are to be more aware of.
A common evaluation index
The most common evaluation index through the price-earnings ratio, net assets, profitability, earnings per share of these three indicators to measure
. As the current market as a whole (excluding loss-making shares), the average price-earnings ratio of 14 times, so blue-chip's price-earnings ratio should be maintained at about 12 times or less than 12 times; its return on equity of at least a year to maintain at between 6% -10% ; but how much is earnings per share of blue-chip, which requires a concrete analysis of the situation on the individual stocks. Because the capital structure of each stock sizes, the net assets of high and low are also different.
2, earnings per share compared to see the history of the company's profitability
Total net profit and earnings per share. Total net profit of listed companies to reflect the relative level of profitability. Earnings per share of historical comparison can be seen, the company net profit growth and expansion of the relationship between the equity, if the earnings per share have not been with the expansion of equity dilution, it shows the company's extension-type growth is reasonable for investors can bring stable and lasting return on the contrary, the limited capacity of company's growth, if it is as a result of refinancing equity expansion makes the decline in earnings per share, it would indicate that the company has not raised funds generated by the tender benefits or benefits arising from not as good as the original stock of assets to create profits.
3, research to see the company's profit margins in gold content
Operating Profit to reflect the stability of corporate profits, such as the main source of profit for most businesses to rely on, then its profits are more stable; If the net profit of main business in the proportion of very small, then corporate earnings situation is not stable. To observe the performance of listed companies growth is the real increase in income from main business, or from the occasional income, such as: investment income, subsidy income, operating income, debt restructuring proceeds, due to accounting policy changes or adjustments to correct accounting errors of the profit. Also note that some listed companies to regulate the use of related-party transactions profits or even sell their assets directly, more rarely, some listed companies through the financial skills to manage, to the performance of water injection, investors should be careful when reading the report identified.
Other business profits and other operating profits is often a one-time, but it can not be sustained. Such as: Fosun Group in 2003 0.69 per share, yuan, net profit of 263.61 million yuan, but most of them from China Merchants Bank as a strategic investor to subscribe for placing part of the listing of investment income, the results of a sharp decline in this year's performance.
4, how to observe the continued growth potential of a listed company?
Main business revenue and profits year on year growth rate of main business, we can see whether there is growth of listed companies: play the stock market is speculation the future, as long as the listed companies to have growth potential, even if the higher price-earnings ratio, it is often the object as a bubbling because the price-earnings ratio will be lowered as the company's growth. Investors want to know whether there is growth of listed companies, listed companies should be concerned about the level of profitability and profitability is increased gradually, the main business whether there is potential for development, whether the product is competitive, is in a monopoly position, or in the intense Competition among the main business of the market share is steadily increasing year by year, or narrowing, can be from the main business revenue and profits year on year growth rate of main business indicators for conclusion.
Edited in the gold-line
