[万科集团股票投资分析]万科股票投资

时间:2020-11-18 08:48:16 作者:股票中国

万科股票投资分析报告45页

WORD文档,欢迎下载交流。经典资料,WORD文档,欢迎下载交流。WORD文档,欢迎下载交流。经典资料,WORD文档,欢迎下载交流。以上三家公司中,万科A的净利润最高,净利润增长率最大,资产负债比率最小。──────┴─────┴─────┴─────┴─────┘由上可以看出,以上三家公司中,万科A的净利润最高,净利润增长率最大,资产负债比率最小。2)资产与负债万科A资产与负债万科A┌─────────┬─────┬─────┬─────┬─────┐|财务指标(单位)|||||├─────────┼─────┼─────┼─────┼─────┤|资产总额(万元)|12950250。9|11923657。9|10009446。7|4991984。04|||2|7|9|||负债总额(万元)|8713835。95|8041803。02|6617494。49|3246633。68||流动负债(万元)|6286522。65|6455372。19|4877398。36|2201627。06||长期负债(万元)|-|-|-|-||货币资金(万元)|2761461。61|1997828。59|1704650。46|1074369。52||应收帐款(万元)|50152。32|92277。48|86488。30|36460。97||其他应收款(万元)|419054。46|349609。69|276405。69|67100。57||坏帐准备(万元)|-|-|-|-||股东权益(万元)|3494275。39|3189192。53|2927864。76|1492854。77||资产负债率(%)|67。2870|67。4440|66。1124|65。0369||股东权益比率(%)|26。9822|26。7467|29。2510|29。9050||流动比率(%)|1。9691|1。7575|1。9566|2。1921||速动比率(%)|0。5892|0。4268|0。5937|0。6402|┌─────────┬─────┬─────┬─────┬─────┐|财务指标(单位)|||||├─────────┼─────┼─────┼─────┼─────┤|资产总额(万元)|12950250。9|11923657。9|10009446。7|4991984。04|||2|7|9|||负债总额(万元)|8713835。95|8041803。02|6617494。49|3246633。68||流动负债(万元)|6286522。65|6455372。19|4877398。36|2201627。06||长期负债(万元)|-|-|-|-||货币资金(万元)|2761461。61|1997828。59|1704650。46|1074369。52||应收帐款(万元)|50152。32|92277。48|86488。30|36460。97||其他应收款(万元)|419054。46|349609。69|276405。69|67100。57||坏帐准备(万元)|-|-|-|-||股东权益(万元)|3494275。39|3189192。53|2927864。76|1492854。77||资产负债率(%)|67。2870|67。4440|66。1124|65。0369||股东权益比率(%)|26。9822|26。7467|29。2510|29。9050||流动比率(%)|1。9691|1。7575|1。9566|2。1921||速动比率(%)|0。5892|0。4268|0。5937|0。6402|经典资料,

万科股票投资分析报告45页

(1)财政政策:积极的财政政策,重视市场配置资源的作用。《经济蓝皮书》指出,2009年我国采取了积极的财政政策,而且得到了较好的执行,2009年第二季度政策效果开始显现,积极财政政策对抵制经济下滑发挥了重要支撑作用,推动了经济若干方面的发展。从宏观经济态势和需求来看,要坚持积极财政政策,以稳定和巩固来之不易的大好局面。2010年积极的财政政策既要坚持又要在2009年的基础上提升和与2009年相比,2010年中国宏观经济发展环境将得到明显改善,欧洲、美国、日本等主要经济体相继复苏,中国出口贸易逐步增加。国内宏观经济政策具有连续性,经济增长动力仍然充足,经济有望实现稳定较快增长。2010年中国经济内部环境将继续得到好转。从供给方面看:一是资金供给潜力巨大,国内储蓄率一直维持在40%以上;二是劳动力资源极为丰富,劳动力人口总量处于上升阶段,素质不断提高,人口红利仍然存在;三是科技进步加快,高新技术快速发展和广泛应用,

万科股票投资分析报告45页

4200内容提示:DOC|浏览次数:2017-|文档星级:精品汇编资料万科股票投资分析报告目目录一.基本面分析······················································11。宏观经济分析·················································1((1)财政政策···················································1((2)货币政策···················································1((3)汇率政策···················································22。行业分析·····················································2((1)利好·······················································2((2)利空·······················································3((3)结论·······················································33。公司财务分析··················································4((1)公司财务横向分析····································4((2)公司财务纵向分析····································11二。技术面分析······················································二。技术面分析······················································131。K线理论分析·················································13((1))K·线与成交量···············································14((2))K·线与筹码图···············································14((3))K·线与均线系统·············································142。切线理论分析················································14((1)趋势线·····················································14)趋势线·····················································14((2)通道线·····················································16)通道线·····················································16((3)甘氏线·····················································17)甘氏线·····················································17((4)线性回归线·················································19)线性回归线·················································19((5)黄金分割线和百分比线·······································20)黄金分割线和百分比线·······································203。形态理论分析·················································22((1)反转形态·················································22((2)持续形态·················································244。技术指标分析··············································27((1·)MACD、

万科股票投资分析报告45页

根据国内外经济走势和价格变化,把握好适度宽松货币政策的重点、力度和节奏,妥善处理发挥支持经济发展与防范化解金融风险的关系,进一步增强调控的有效性,维护金融体系的稳定。第二,货币信贷发展要适度把控。灵活运用货币政策工具,合理安排公开市场工具组合、期限结构和操作力度,保持银行体系流动性及货币市场利率水平的合理适度。对当前存在的流通量过大问题,要通过相关手段,促进货币流通量向适度转化。第三,金融改革要适时推进。金融改革是我国中长期的改革重点之一,要抓住当前的有利时机,推进金融改革和结构调整,进一步改革投融资体制,启动民间投资,金融支持转变经济发展方式,促进我国经济的持续稳定发展。(3)汇率政策:我国实行以市场供求为基础的、单一的、有管理的浮动汇深化,要结合国家发展任务进行必要的调整。主要应着眼于以下五个方面:第一,着眼于选择近期发展和远期发展相结合的公共投资项目,以支持我国长期发展。第二,着眼于支持国家气候变化应对政策的实施,

万科股票投资分析报告45页

一年国家只发2000亿的贷款目前针对房价上涨过快等房地产业不健康的发展状况,国务院也出台了一系列相关措施:加大差别化信贷政策执行力度,收紧二套房贷政策。根据这一原则,明年银行将会针对不同类型的房地产开发和购房需求予以不同的金融对待。此外,对于国务院常务会议提出的“加强房地产信贷风险管理”的提法,专家预计明年银行会对房地产企业开发贷款进行从严管理。银根紧缩限制了房产商借钱的数量,一年国家只发2000亿的贷款经典资料,WORD文档,欢迎下载交流。经典资料,WORD文档,欢迎下载交流。8(3)结论综上所述,国家近年出台了一系列的相关措施促进放房地产业的发展,但同时,针对如房价增长过快等一些不健康的发展问题也出台了相关措施进行抑制。即国家宏观经济政策对房地产业既有利好又有利空,但总的来说利好大于利空,在以后几年的发展中,房地产业对我国的经济增长仍将发挥不可替代和极其关键的作用,前景良好。综上所述,

万科股票投资分析报告45页

DMA、TRIX指标········································27((2)DMI、BOLL、WIDTH指标······································29经典资料,WORD文档,欢迎下载交流。经典资料,WORD文档,欢迎下载交流。4一、基本面分析1.宏观经济分析与2009年相比,2010年中国宏观经济发展环境将得到明显改善,欧洲、美国、日本等主要经济体相继复苏,中国出口贸易逐步增加。国内宏观经济政策具有连续性,经济增长动力仍然充足,经济有望实现稳定较快增长。2010年中国经济内部环境将继续得到好转。从供给方面看:一是资金供给潜力巨大,国内储蓄率一直维持在40%以上;二是劳动力资源极为丰富,劳动力人口总量处于上升阶段,素质不断提高,人口红利仍然存在;三是科技进步加快,高新技术快速发展和广泛应用,成为经济快速增长的重要动力;四是产业结构优化升级,

投资价值分析价值投资标的分析万科A

不按市场规律办事,是无法做到这一点的。总起来讲,作为地产行业的头部企业,万科不仅实力强,而且是能力最全面、发展很均衡的公司,没有明显的短板。下面咱们用自由现金流折现法算一下万科的内在价值。根据前面提到的计算方法,自由现金流量=经营活动产生的现金流量净额-构建固定资产、无形资产和其它长期资产支付的现金咱们先算出万科的自由现金流。万科之前十年的平均自由现金流为215亿,虽然万科的业务比较稳定,为了保险起见,我把万科未来的自由现金流保守设定为十年平均的自由现金流,也就是215亿元。下面咱们看一下万科的营收增长率和净利润增长率。考虑到万科虽然仍在以较高的速度增长,但企业体量已经不小,所以保守预计未来10年内的增长率为5%,10年后的增长率为0,取折现率数值为6%。那么,万科的估值计算如下:第一步,计算未来10年的自由现金流:第一年自由现金流215亿,第二年自由现金流=215亿*5%=225亿,以此类推。

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