美的电器投资价值分析

发布时间：2018-01-06 11:01

本文关键词：美的电器投资价值分析　出处：《对外经济贸易大学》2017年硕士论文　论文类型：学位论文

【摘要】：美的电器是目前全球最大的集研发、生产、销售、服务于一体的专业化电器企业,1968年创业,1980年正式进入家电业,1981年注册美的品牌,经过几十多年的发展,美的电器已远销世界200多个国家和地区。是我国电器业的龙头企业之一,中国家电行业最具品牌价值的企业之一。美的电器于2013年9月18日在深交所上市,旗下拥有小天鹅(SZ000418)、威灵控股(HK00382)、两家子公司上市。本文首先采用基本面分析法对当前的市场整体经济环境、行业发展环境及走向,公司内部的经营情况等三个方面充分分析美的电器过去及现状,然后通过技术分析,最终揭示美的电器的真实投资价值,从而帮助投资者进行投资决策。我国经济经过快速增长的三十年,不管是在体量上还是在质量上都已经发展到一定程度。现阶段属于调整阶段,经济发展速度有所缓慢,但发展总体平稳,稳中有进。根据李克强总理《政府工作报告》指出2015年“国内生产总值67.7万亿元,比上年增长6.9%,在世界主要经济体中位居前列。全国居民人均可支配收入实际增长7.4%,快于经济增长,消费对经济增长的贡献率达到66.4%。”1随着人民生活水平的提高,对生活质量的意识也在提高,国家政策也关注这些变化,不断满足人们的要求,家电消费政策的继续驱动,对整合家电行业的发展有很好的刺激作用,作为在家电市场占有较大份额的美的电器也将受益。从行业来看,美的电器以其良好的研发设计和创新能力,为公司今后的发展打下了坚实的基础,是值得投资者长期关注和投资的企业。本文对美的电器宏观和微观的全面分析,通过净现金流量现值法和市盈率法对美的电器股票价值进行了评估,评估结果与美的电器市场股票价格较为相近,但仍有差异。由于市场经济瞬息变化,本文认为差异属于正常。希望通过本文的分析,使用者更能清晰美的电器的内在价值及投资价值,为众多使用者提供参考价值。
[Abstract]:Midea is currently the world's largest R & D, production, sales, professional electrical appliance enterprises, service in one of the venture in 1968 1980 officially entered the home appliance industry, the brand is registered in 1981, through development of a few years, beauty appliances have been exported to more than 200 countries and regions in the world. China is one of the electrical appliance industry one of the leading enterprises, China appliance industry the most brand value of the enterprise. Beauty appliances in September 18, 2013 listed on the Shenzhen Stock Exchange, owns the Little Swan (SZ000418), (HK00382), holding two subsidiaries listed in this paper. Firstly, the fundamental analysis of the current market economy environment, the environment and the development trend the industry, the three aspects of the company's internal management of full analysis of the past and the present electrical beauty, and then through technical analysis, and finally reveals the real investment value of Midea, to help investors Investment decision. China's economy after the rapid growth in thirty years, whether in the body or in quality has been developed to a certain extent. This stage belongs to the stage of adjustment, the speed of economic development has been slow, but the overall stable development, steady progress. According to Premier Li Keqiang "government work report pointed out that in 2015 the" > 67 trillion and 700 billion of GDP yuan, a year-on-year increase of 6.9%, ranked in the forefront of the world's major economies. The per capita disposable income grew by 7.4%, faster than economic growth, the contribution of consumption to economic growth rate reached 66.4%. 1 with the improvement of people's living standards, quality of life also raise awareness of national policies, focusing on these change, continue to meet the requirements of the people, continue to drive consumer policy, have very good stimulus to the development of the integration of the home appliance industry, as in the home appliance market accounted for a larger share of The beauty of the appliance will also benefit from the industry point of view, beauty appliances with its excellent R & D and innovation capability, is the solid foundation for the future development of the company, is worth investors long-term attention and investment enterprises. The Midea comprehensive analysis of macro and micro, stock of beauty the value of net cash flow rate through the current value and earnings were evaluated, evaluation results and beauty appliances market stock price is similar, but there are still differences. Due to the changing of market economy, this paper believes that the difference is normal. I hope that through this analysis, the user more intrinsic value and investment value of clear beauty appliances. To provide a reference value for many users.

【学位授予单位】：对外经济贸易大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.6;F406.7

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