每年的春天,是上市公司陆续公布年报的时候。如果你试着忘记股价波动的惊涛骇浪,而仅仅将目光聚焦于实体经济本身。那么A股市场的发展史就变成了一部大国崛起的纪录片。
以下是A股市值排名前200位公司公布的近十年年报归母净利润增速,有些已经公布了2020年年报,有些虽然年报未至但公布了业绩快报,而有些公司默不作声,我们需要再等待一段日子,待到4月末,这张表终究将被填满。
当前市值排名前200的公司中,已经公布2020年报或业绩快报、预告数据的有111家,其中净利润正增长的89家,负增长的22家,净利润增速算术平均值为44.2%,中位数为19.8%。2019年,同样这200家公司,净利润增速算术平均值为64.1%,中位数为18%。2018年,同样这200家公司,净利润增速算术平均值为20.3%,中位数为12.1%。2017年,同样这200家公司,净利润增速算术平均值为104.7%,中位数为25.6%。2016年,同样这200家公司,净利润增速算术平均值为31.3%,中位数为13.9%。2010年到2015年,任何一个财年度,这200家公司的净利润增速中位数都超过了10%。上市公司长期持续稳定的成长,与我国实体经济的稳增长密不可分。长期看,股市是一台称重机。长期看,股价涨幅是公司业绩成长带来的副产品。每当市场颠簸,心神不宁时,少看股价,多看看公司财报,也许更容易接近投资这件事的真相。2021-3-26性价比指标解释:代码,标的名称,价格,市值,本月涨跌幅,本年涨跌幅,去年涨跌幅,PE滚动市盈率TTM,PB市净率,ROE净资产收益率。ROE=PB/PE。通常ROE越高,代表行业或公司盈利能力较强。长期ROE较高,代表行业或公司长期盈利能力较强。但过去并不能代表未来。性价比=实业收益率/无风险收益率。性价比百分位,计算方式为,该指数或公司当前性价比在过去十年所有性价比指数中的百分位。性价比百分位越高,则代表指数基金或公司当前估值相对于无风险收益率水平的性价比在历史上处于较高水平。性价比百分位越低,则代表指数基金或公司当前估值相对于无风险收益率水平的性价比在历史上处于较低水平。性价比计算的频度为月频。在性价比百分位较高时买入或持有都是理性的,卖出是不理性的。在性价比百分位较低时卖出或持有都是理性的,买入是不理性的。性价比百分位高并不代表股价会立刻上涨,性价比百分位低并不代表会马上下跌,许多性价比百分位0%的公司继续大涨持续很久。许多性价比百分位100%的公司继续不涨甚至下跌。盈利能力和无风险收益率是不断变化的,静态市盈率受单一年度影响是很大的,所以用静态PE计算出来的百分位指标具有滞后性,另外,许多公司上市时间还不够长,数据样本较少也容易造成百分位相对失真。性价比百分位,仅仅是投资决策的参考之一。概率思维,相信而不迷信,合理分散,组合配置。
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