金融工程国信证券吴子昱,林晓明 PSR模型系列之一：寻找未来的价值 20130812

Page
[Table_Title]
2013 08 12
[Table_BaseInfo]
VS
2013-08-07
4.48%
2013-08-05
CanSlim
2013-07-09
0.62%
2013-07-03
2013-07-01
PSR
PSRPrice Sales Ratio- Kenneth Fisher

Fisher
PSR
0755-22940607
E- MAIL wuziy@guosen.com.cn
PSR
021-60875168
E- MAIL linxiaom@guosen.com.cn
PSR PS
S0980512020001
PSR
PSR
(Product Life Cycle )
PSR
1.
PS
2.
3.
5%
09 5 PSR 50 140%
20% 300 16%PSR 23%
300 28% 58%
Page
PSR 80
Kenneth Fisher
A
Fisher PSR
09 5 140% 20%
300 16%
1 PSR 300
PSR
300
2.5
1.5
0.5
2009-05-04
2009-06-08
2009-07-09
2009-08-11
2009-09-11
2009-10-22
2009-11-24
2009-12-25
2010-01-28
2010-03-09
2010-04-12
2010-05-14
2010-06-21
2010-07-22
2010-08-24
2010-09-29
2010-11-08
2010-12-09
2011-01-12
2011-02-21
2011-03-24
2011-04-28
2011-06-01
2011-07-05
2011-08-05
2011-09-07
2011-10-18
2011-11-18
2011-12-21
2012-02-01
2012-03-05
2012-04-10
2012-05-15
2012-06-15
2012-07-19
2012-08-21
2012-09-21
2012-10-31
2012-12-03
2013-01-08
2013-02-08
2013-03-20
2013-04-24
2013-05-30
2013-07-05
2013-08-07
WIND
PSR
1.
2.
PS
Page
..................................................................................................................... 5
........................................................................................................... 5
........................................................................................................... 5
........................................................................................................ 6
................................................................................... 6
........................................................................................... 6
PS A ............................................................................................. 7
PS ..................................................................................................... 7
PS ..................................................................................................... 8
................................................................................................................................... 10
PS PE ........................................................................................ 10
5%............................................................11
....................................................................................................................... 11
......................................................................................11
..........................................................................................11
PSR ................................................................................................................................. 11
1.
PS ..............................................11
2.
............................................................ 12
3.
5% ......................................................... 12
................................................................................................................................... 12
PSR ........................................................................................................................ 12
............................................................................................................................... 14
......................................................................................................................... 14
................................................................................................. 14
PRR..................................................... 14
................................................................................................................... 15
............................................................................................................................... 15
................................................................................................................................... 15
...................................................................................................... 15
Page
1 PSR 300 ............................................................................. 5

2 ........................................................................................... 5
3 ............................................................................................... 5
4 2008 A PSTTM.................................................. 7
5 2008 PS .......................................................... 8
6 A PSTTM................................ 9
7 PSR 300 ........................................................................... 12
8 PSR 300 ........................................................... 13
9 5 PSR 300 alpha .............................. 13
1PS ............................................................................... 9
2PS ........................................................................................... 9
3 PS PE ..................................................................... 10
Page
2
50
45
40
35
30
25
20
15
10
10
12
14
16
18
20
0 1 18 5
2 22 1 8
5 2 12
3
80
1+2
1
70
60
50
40
30
20
10
-10
10
15
20
25
Page
1 2
3
1.
2.
3.
4.
5.
1.
2.
3.
4.
5.
PS PE
1.
PS PE
PS
PS A
2.
Page
PS A
PS
08 A PS PS
TTM
4 2008 A PSTTM
800
700
600
500
400
300
200
100
10
PS(TTM)
12
14
16
18
20
WIND
2 PS0 PS>20
1.
PS>0
2.
PS 20
PS=1 PS (0,1)(1,20)
Y X PS
PS(TTM)
PS(TTM)
Page
5 2008 PS
PS
-1
-2
-3
-4
-5
-4
-3
-2
-1
0
1
WIND
PS 20 PS
PS>20
PS 0 PS
0 0
PS(TTM)
PS
PS
PS
PS
PS(TTM)
PS(TTM)PS(TTM)
PS PS
Page
6 A PSTTM
<5
5~10
150
10~15
300
300
250
250
200
200
150
150
100
100
50
50
15~30
400
300
100
50
200
100
0
-2
0
-2
30~50
0
-2
50~100
200
0
-2
100~200
150
200~500
60
40
50
150
30
100
40
100
30
50
20
20
50
10
10
0
-2
0
-2
0
-2
0
-2
WIND
8
1.
50 5 PS
2.
50
PS
3.
PS
PS PS
1PS

<5
5.205
30-50
4.261
5-10
6.030
50-100
4.530
10-15
4.650
100-20 0
3.934
15-30
4.508
200-50 0
3.799
WIND
PS 75% 25% PS
50%
2PS

PS
PS
<5
4.168
30-50
2.888
5-10
3.816
50-100
2.928
10-15
3.040
100-20 0
2.225
15-30
2.917
200-50 0
2.108
WIND
1 10 PS 10~100
Page
10
100 2 PS
PS PS
5 1 2 PS
1.
10
2.
10 ~100
3.
100
PS
PSR PSR
PS PE
PS PE
PS PE PS
PE
3 PS PE
%
PE
PS
12
10
7.5
0.12
1.00
1.20
1.60
2.40
6.00
12.00
0.25
2.08
2.50
3.33
5.00
12.50
25.00
0.5
4.17
5.00
6.67
10.00
25.00
50.00
0.75
6.25
7.50
10.00
15.00
37.50
75.00
8.33
10.00
13.33
20.00
50.00
100.00
1.5
12.50
15.00
20.00
30.00
75.00
150.00
16.67
20.00
26.67
40.00
100.00
200.00
25.00
30.00
40.00
60.00
150.00
300.00
33.33
40.00
53.33
80.00
200.00
400.00
41.67
50.00
66.67
100.00
250.00
500.00
50.00
60.00
80.00
120.00
300.00
600.00
10
83.33
100.00
133.33
200.00
500.00
1000.00
WIND
PS PE 30
1% 2% PS 0.3 0.6 PE
30 PS PS 0.3 0.6
PS 1.5
Page
11
PS=1.5 5% PE 30
5%PS 1.5 PE 30
5%
PS
2%-1%
5% PS
PS
PE 30 PS
5%
PS
(forward PE)
P PS
PS
PE
PE PS PE
PS
PE
PE PSR
PSR
PSR PE
PS PE
1.
PS
PS
PS
Page
2.
12
PE
PS
3.
5%
PE
5% PE 30
PSR
PSR
PS>0
10% 5% 5
911 50
7 PSR 300
PSR
300
2.5
1.5
0.5
2009-05-04
2009-06-08
2009-07-09
2009-08-11
2009-09-11
2009-10-22
2009-11-24
2009-12-25
2010-01-28
2010-03-09
2010-04-12
2010-05-14
2010-06-21
2010-07-22
2010-08-24
2010-09-29
2010-11-08
2010-12-09
2011-01-12
2011-02-21
2011-03-24
2011-04-28
2011-06-01
2011-07-05
2011-08-05
2011-09-07
2011-10-18
2011-11-18
2011-12-21
2012-02-01
2012-03-05
2012-04-10
2012-05-15
2012-06-15
2012-07-19
2012-08-21
2012-09-21
2012-10-31
2012-12-03
2013-01-08
2013-02-08
2013-03-20
2013-04-24
2013-05-30
2013-07-05
2013-08-07
WIND
Page
13
2009 5 PSR 141% 23%

20% 300 16%PSR 58.3%
8 PSR 300
PSR/300
3.5
3
2.5
2
1.5
1
0.5
2009-05-04
2009-06-08
2009-07-09
2009-08-11
2009-09-11
2009-10-22
2009-11-24
2009-12-25
2010-01-28
2010-03-09
2010-04-12
2010-05-14
2010-06-21
2010-07-22
2010-08-24
2010-09-29
2010-11-08
2010-12-09
2011-01-12
2011-02-21
2011-03-24
2011-04-28
2011-06-01
2011-07-05
2011-08-05
2011-09-07
2011-10-18
2011-11-18
2011-12-21
2012-02-01
2012-03-05
2012-04-10
2012-05-15
2012-06-15
2012-07-19
2012-08-21
2012-09-21
2012-10-31
2012-12-03
2013-01-08
2013-02-08
2013-03-20
2013-04-24
2013-05-30
2013-07-05
2013-08-07
WIND
PSR 300 alpha 28%2009 5 PSR

alpha 2011 11~12 2010
9 2012 10 2013 1
9 5 PSR 300 alpha
WIND
PSR 300
5
alpha 7 12 300 2.71%
alpha 5 28 300 -2.91%
Page
14
PSR Fisher
2013 A 300
PSR
PSR
1.
2.
PS
PSR
PE
5%
PRR
Fisher PRR(Price-Research Ratio)

PRR
Page
15
6 20%
6 10%-20%
6 10%
6 10%
6 10%
6 5%-10%
6 5%
6 5%
0755-82130638
021-60875174
0755-82130722
0755-82130833-1867
010-88005317
010-88005321
0755-22940855
0755-82130565
0755-82130706
0755-22940300
0755-82138922
0755-82133920
0755-82133129
021-60875168
0755-82133528
0755-82130833-1379
021-60933142

0755-82130422

0755-82130432
021-60933167

010-66025270
0755-82133396

0755-82139908
0755-82130473
0755-82133263

0755-82133400
010-88005322

010-88005319
0755-82130468

0755-82130470
0755-82130513

0755-82133390

0755-82130678
021-60933160

0755-82150809

0755-82132098

010-88005310
0755-82130833-1368

021-60875163
0755-82130843
010-88005316
0755-82130422
021-60875162
0755-82133343
0755-82130678
0755-82130685
0755-22940109
021-60875160
021-60933151
021-60933164

021-60933162
0755-82130407
010-88005311
021-60875165
021-60933163
021-60933150
0755-82136165
0755-22940643
0755-22940607
010-66026352
021-60875169
13910524551
15821778133
wanglf@guosen.com.cn
shengjp@guosen.com.cn
010-66026342
13701099132
010-88005334
010-88005332
010-66020272
021-60875170
zhengcan@guosen.com.cn
18611847166
021-60875177
ganmo@guosen.com
13817906789
18601241651
xuran1@guosen.com.cn
13817738250
yangliu@guosen.com.cn
021-60933166
18601123617
021-60875173
yanxy@guosen.com.cn
13651693363
18901140709
021-60875164
13636399097
0755-82134356
15999667170
lipei@guosen.com.cn
0755-82133147
13590436977
cuihj@guosen.com.cn
0755-82130655
13923458266
liusu@guosen.com.cn
0755-82133456
15013851021
konghq@guosen.com.cn
0755-82133043
13421837630
13681669123
yuanyi@guosen.com.cn
duanlj@guosen.com.cn
yelf@guosen.com.cn
15910551936
021-60875178
0755-82130509
18675575010
13817758288
zhaohy@guosen.com.cn
shaoyf@guosen.com.cn
zhengyi@guosen.com.cn
13810917275
021-60875171
0755-82133148
13480668226
13795229060
liwying@guosen.com.cn
010-66025249
weining@guosen.com.cn
huangsl@guosen.com.cn
13910793700
13823515980
13761873797
wangxj@guosen.com.cn
021-60875166

0755-82133492
zhaoxxi@guosen.com.cn
15107552991
tangjingwen@guosen.com.cn
021-60873149
18601679992
liangyc@guosen.com.cn

金融工程国信证券吴子昱,林晓明 PSR模型系列之一：寻找未来的价值 20130812

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金融工程国信证券吴子昱,林晓明 PSR模型系列之一：寻找未来的价值 20130812

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Page

PSRPrice Sales Ratio- Kenneth Fisher

(Product Life Cycle )

1 PSR 300 ............................................................................. 5

2009 5 PSR 141% 23%

PSR 300 alpha 28%2009 5 PSR

Fisher PRR(Price-Research Ratio)

You might also like

金融工程 国信证券 吴子昱,林晓明 PSR模型系列之一：寻找未来的价值 20130812

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金融工程 国信证券 吴子昱,林晓明 PSR模型系列之一：寻找未来的价值 20130812

Uploaded by

Copyright:

Available Formats

Page

PSRPrice Sales Ratio- Kenneth Fisher

(Product Life Cycle )

1 PSR 300 ............................................................................. 5

2009 5 PSR 141% 23%

PSR 300 alpha 28%2009 5 PSR

Fisher PRR(Price-Research Ratio)

You might also like

金融工程国信证券吴子昱,林晓明 PSR模型系列之一：寻找未来的价值 20130812

金融工程国信证券吴子昱,林晓明 PSR模型系列之一：寻找未来的价值 20130812