就試以投資3間賣相同餐飲但不同大小的餐廳角度,首先第一件事是看餐廳的大小和租金,有兩個數字類似,第一個是各自要覆蓋的面積,第二個是每年的資本和折舊支出,如果面積大,折舊維護,和新的裝修費用自然高,最怕你買入餐廳後發現每年的維修裝修資本支出食了一大舊帳面利潤。
第二件是看顧客對價格的敏感,這要看銷售對比資本支出,如果顧客對價格敏感,自然要多資本投資去留客人,如果客人麻木,你給他食什麼他也沒有什麼要求,價格也是你說了算;
第三件是看夥計是否博命,這要看銷售對工資,每支付一元給員工,就要他為公司賺得多些錢;
第四是看銷售增長,有增長代表有拼勁;
第五件是看未來對手,各自在三地的市場佔有率的比較,越高的對手越有排追;
第六是看價格,這個時候,一定要平靚正,否則 情願不買。
有了標準範圍,現在才看數字
第一件事是看餐廳的大小和租金:
![](data:image/png;base64,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)
原來澳門不單人口小,面積也很小,中囯面積是它的8萬3千倍,人口就只大2211倍,比喻就像餐廳大,但顧客的坐位又沒有那麼密。澳門電訊說5年內投資15億5G,每年就是3億,按這條數計算面積大的中移動就會好大獲,但941說2020年只投資1千億,只是澳門的333倍,原因可能就是他和其它兩支電訊商共同持有的中囯鐵塔一同開發,也可能只是2020年,未來更多說不定,但這條數都已經等於它的全年利潤,6823沒有說投資的exact數,只說會是現在銷售的8-9%,我就用8.5%計算是28億,按面積計也算和1883差不多,可能他隨便說小了一點,你就是感到5G未來會很花現金。
1883未來投資5G每年是3億,要比較過去的數是否合理和對派息和銷售增長的影響,於是要再看第二件看顧客用這些搵食工具煮出來的東西的價格敏感:
有了標準範圍,現在才看數字
第一件事是看餐廳的大小和租金:
原來澳門不單人口小,面積也很小,中囯面積是它的8萬3千倍,人口就只大2211倍,比喻就像餐廳大,但顧客的坐位又沒有那麼密。澳門電訊說5年內投資15億5G,每年就是3億,按這條數計算面積大的中移動就會好大獲,但941說2020年只投資1千億,只是澳門的333倍,原因可能就是他和其它兩支電訊商共同持有的中囯鐵塔一同開發,也可能只是2020年,未來更多說不定,但這條數都已經等於它的全年利潤,6823沒有說投資的exact數,只說會是現在銷售的8-9%,我就用8.5%計算是28億,按面積計也算和1883差不多,可能他隨便說小了一點,你就是感到5G未來會很花現金。
1883未來投資5G每年是3億,要比較過去的數是否合理和對派息和銷售增長的影響,於是要再看第二件看顧客用這些搵食工具煮出來的東西的價格敏感:
原來1883的資本投資和折舊一直相對銷售都是非常低,不用如何建設和維護,客人也一樣光顧,還因為實際投資付出的現金比較損益帳報的折舊支出更低(净資本支出),每年的自由現金流比較報表的盈利高出一舊,能有現金留下才能再投資增加未來銷售和利潤,按數字6823也可以,可能是新的科技工具永遠比較從前的便宜,買新的比較維修更化算,但就不知什麼原因,941資本支出一直高於折舊,令自由現金流長期低於報告盈利。
第三件的比效率,看銷售對工資:
兩支有國營關係的員工效率數字上果然低于6823,自從2004年收購CSL後,6823的員工人數就由19400人減至17500人,工人支出由26.65億跌至24億元,再看看這班員工軍心是否仍然良好,盈利增長是因為科技還是什麼?於是看
第4件的看銷售增長,有增長代表員工有拼勁;
三個公司的賣設備都是不賺錢,於是筆者把它剔除,只看真正能賺前的核心銷售,原來6823一路沒有增長,它的利潤增長5年來都是依靠降成本,5年平均工人工資都是13萬7,沒有加過,這些人就是公司未來增長率?是壓制還是效率?中移動被折舊騰折得很,盈利沒有升過,還要擔心未來大筆資本支出,再看看未來市場競爭環境和對手的第5件事的市場占有率:
這次新冠肺炎也考驗了電訊行業不受影響,非常穩定,只要擔心新進入競爭者對現有者份額的挑戰,在流動市場中移動最高,但祖國的月費則非常低,是為人民服務(我是正面評價,因爲要讓人民脫貧),澳門人民已經脫貧,所以4G的7G用量月費還要兩百幾是3地最高的(網上資料),而商業的市場占有率1883更高達97%,太離譜吧,澳門沒有王維基的殺價超人競爭,在網上搜電訊公司月費比較,發現香港和國內一大堆,澳門就沒有,難道無對手的嗎?
第六就是市值價格/賺錢利潤/派息:
0941 11098.7億/1068億/598億
6823 872.7億/ 52億/52億/
1883 94億/10億/7.3億
分析後的印象是,以降成本去維持盈利增長的6823的未來派息能否像過去般增長要抱有很大的懷疑,這類類似REIT的商業托管的特質是派息是從債項而來,沒有什麼保留利潤,但有些人就喜歡商業托管4字,因為管理層不能改派息比例,但羊毛終歸要出自羊身上,始終要看盈利,並非說6823是假的,只是沒有銷售增長情況下,股價居然是最高的,可能他們"知道"未來銷售會上升,或者知道成本會一直降,工人數會繼續下跌,人工一直不加,你總不想買入一門生意時它已經降成本得很厲害而未來空間很細,而且價錢又最貴的。
941則天生店面大和坐位疏落,每年需要維修的現金高,但它是唯一沒有債和有幾千億現金的電訊公司,都是以前積下來的,難怪幾年前股價高到百幾元,那些年的壟斷日子和現在真的不何同日而語,國家的做法好不好完全要看你站在那裡,對無良資本家肯定不好,但對住到無雷公仍然有得低價用的偏遠農村窮百姓則肯定拍手,如果我錢多,這個價位都會買它為國家和人民服務。
5G帶來的影響,看這些電訊股的股價,還是以過去的估值,沒有什麼憧憬,大家都在想,5G令公司商業見面減少了的交通或引致替代支出的市場,都會轉給科技公司的軟件或電商食掉,沒有人想過電訊商會在"交流的流量"市場中分到不錯的收入,它們的估值甚至比較電力公司更不如。
如果你想做電訊生意,又會從那方面著手分析?
受教了。。多谢!
回覆刪除Multi兄,不客氣,共勉之。
刪除澳門電訊行業一向是壟斷的,長期俾CTM ,價錢相對算貴,服務質量又不算好,但都沒有辦法
回覆刪除Oscar兄,這次調研的小結果也令我意外,想不到CTM如此壟斷這麼多年。
刪除學習了。分析精彩。謝謝分享!
回覆刪除Ch Liu兄,不客氣,多謝支持。
刪除巴黎兄, 請問對於1883 澳門商業流量增長是否可理解為有限, 始終澳門商業主要賭場為主, 因疫情下澳門商業也受到極大放緩, 流量大大減少, 即使能回覆, 也不能回到從前的水平. 那是否有很大機會減派息?
回覆刪除新冠病毒打擊了傳統商業模式,繼而傷害了經濟,這會減少了某些收入,令一方面也會令傳統模式走去新科技而增加流量,這點又會增加其收入。
刪除電訊未來有如電力,但它收費卻並非如電力每一度一度用量計算而是要達另一個堤階後才上升,所以越多應用軟硬件,電訊公司才能越得益。
個人覺得5G會令物聯網變得可能,從而出現很多大食流量的應用,這是思考方向。
謝謝解答!
刪除那只要1883有護城河便可以穩定地收流量費用.
1883的地位應該還會有一段時間,而5G和商業應用方面則要持續留意變化才準確知道。
刪除巴黎sir, 請問可否指教如果計算1883合理價? 謝謝
回覆刪除這裡有一個Ben Graham 的估值計算器,可以把相關數字輸入作為參考之用:
刪除https://captaincalculator.com/financial/finance/graham-formula/
感謝
刪除不客氣,互勉之。
刪除唔識計, EPS 27.4, GROWTH RATE 3.84%. 443元????
刪除是仙位
刪除很奇怪1883股價總是很弱,有盈利有派息,估值又不高...
回覆刪除估值不高是整個港股都有此情況。
刪除而1883剛剛除淨達5%+,看來好像比較弱。
此留言已被作者移除。
回覆刪除在四月三十日我是這樣告訴你的:之前清了倉,給自己一點時間思考,然後漸漸地再入市,今次選擇跌得最慘的sectors, 例如airline(美國和巴西),cruise, restaurants, banks (歐洲), energy (美國和巴西)和 casino,又滿倉了。
回覆刪除股神巴菲特在股東大會宣布把所有的airline stocks sold out,我的心情好像給火燒一樣和給出賣的感覺,這次大膽和大量買airline stocks 就是因為借助股神的光環。airline 的比例是最大的在我組合之中,之後就沒有心情在你的blog post new comments因為我一個多月沒有看组合,直至昨天Dow index above 26000點,才看一下,真的嚇一跳,big surprise.今天早上八點,Dow indexe 27158 points, 報告巴黎兄大功告成,欣賞自己的堅持沒受他人影響和堅持物極必反的投資策略,以及白貓也好,黑貓也好,捉到老鼠就是好貓。今次成果豐富,報告完畢,謝謝巴黎兄!自古驕兵多致敗,從來輕敵少成功。這一句話永遠在告訴我自己。
Jimmy兄,恭喜恭喜。
刪除股神24元時候清掉Dal和所有航空公司股,可算是最錯的決定了,但每個人也有做錯的時候,我們專重他,唯當彼此決定不同時,也應專重自己下過的腦力,共勉之!!
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请问巴兄, 6823在你的EXCEL里资本开支2019年是5121, 但其年报说的是2642 . 采用哪个数比较反映真实情况? 你的是从哪几项加的?
回覆刪除VC兄,我是看現金流量表來的。
刪除保守點還是以現金流量表來,6823的無形資產開支有50%了. 澳門電訊說5年投資5G 20億澳門紙,今年6億, 不知這個是不是新增, 如果按過去公司每年資本開支5億, 這新增支出要增長一倍. 不知是不是這樣, 所以股價一直承壓.
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