$新东方在线(017_老虎社区_美港股上老虎

2021-08-30

$新东方在线(01797)$且不说你一年亏16个亿拉垮的财报，分析下新东方在线未来的走势。从营收结构来看，新东方在线目前主要营收构成k12业务占比50%以上，大学生业务占比40%，剩下机构业务和学前业务占比可忽略不计。双减影响下k12被砍，50%以上的营收没了，大学业务目前5个多亿营收，同比还减少了14%，从资本市场估值来看，一没有规模二没有增长三还在亏损，顶多也就撑得起20亿人民币的市值，何况目前账上的现金不充足的情况下对新东方在线来说是致命的打击。在线之前主要靠东方优播开设实体的模式进行扩张，这种重运营模式下所以毛利只有20%多，之后这些实体的成本将会进一步拖垮新东方在线的现金储备，成人这种首单营销货客的模式对现金流的依赖又极其高，为求生存之后营收近一步缩减是必然的趋势。

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

精彩评论

几乎不看
2021-09-09
几乎不看
现在只有K9被砍。
而且准备发展第二曲线，MBA，现金流有18亿（财报上鞋的）。
不知道现在楼主又怎么看？
- 道一先生:
  高中业务一样被限制的厉害，只是没有说像k9限制的那么死，mba做不起来，不是什么新鲜事了，要能做早都做了，现金流抛除预收费也没多少，关键是支撑不了未来的增长业务
揭人不揭短
2021-08-30
揭人不揭短
总市值 42.33亿流通市值 42.33亿总股本 10.01亿流通股本 10.01亿 52周最高 38.200 52周最低 3.710 市盈率 -4.44 市净率 2.62 股息 0 股息收益率 0.00% ROA -24.29% ROE -71.19% 每股收益 -0.95这财务数据再砍掉一半，那得糟糕成什么样子了？
哎呀呀小伙子
2021-08-30
哎呀呀小伙子
K-12教育部门主要提供为普通高等学校招生全国统一考试而设的备考课程。该公司推出创新的东方优播课程，该课程为低线城市学生提供的地区性直播互动辅导服务。学前教育部门主要通过公司的应用程序和甜甜圈在线英语课堂提供儿童在线教育。这一部分完全是砍掉了啊。
罗杰斯之王
2021-08-30
罗杰斯之王
现金流到了红线的位置，这种情况危机就会一触即发，新东方想熬过寒冬不会那么容易，无论如何转型，都是如履薄冰。
宝宝金水_
2021-08-30
宝宝金水_
现金储备不足可能是拖垮新东方的最后一根稻草吧？不过这话为时尚早。
大小摩根
2021-08-31
大小摩根
看了眼新东方的股票，我只能说目前有点“打扰了”，肯定是不敢碰的

发表看法

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\n不知道现在楼主又怎么看？","likeSize":0,"commentSize":1,"subComments":[{"id":5813521,"commentId":"5813521","gmtCreate":1631238364930,"gmtModify":1631239270933,"authorId":3482057133953848,"author":{"id":3482057133953848,"idStr":"3482057133953848","authorId":3482057133953848,"name":"道一先生","avatar":"https://static.tigerbbs.com/610afd376fd683a1ca6e46c46ae96db3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":811132860,"objectIdStr":"811132860","type":1,"supId":5808142,"supIdStr":"5808142","prevId":0,"prevIdStr":"0","content":"高中业务一样被限制的厉害，只是没有说像k9限制的那么死，mba做不起来，不是什么新鲜事了，要能做早都做了，现金流抛除预收费也没多少，关键是支撑不了未来的增长业务","text":"高中业务一样被限制的厉害，只是没有说像k9限制的那么死，mba做不起来，不是什么新鲜事了，要能做早都做了，现金流抛除预收费也没多少，关键是支撑不了未来的增长业务","html":"高中业务一样被限制的厉害，只是没有说像k9限制的那么死，mba做不起来，不是什么新鲜事了，要能做早都做了，现金流抛除预收费也没多少，关键是支撑不了未来的增长业务"}],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":5691584,"commentId":"5691584","gmtCreate":1630304661096,"gmtModify":1630304661096,"authorId":9000000000000220,"author":{"id":9000000000000220,"idStr":"9000000000000220","authorId":9000000000000220,"name":"揭人不揭短","avatar":"https://static.tigerbbs.com/8a6d90cbff3ceab2e34f58c7b8e0271f","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":811132860,"objectIdStr":"811132860","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"总市值\n42.33亿\n流通市值\n42.33亿\n总股本\n10.01亿\n流通股本\n10.01亿\n52周最高\n38.200\n52周最低\n3.710\n市盈率\n-4.44\n市净率\n2.62\n股息\n0\n股息收益率\n0.00%\nROA\n-24.29%\nROE\n-71.19%\n每股收益\n-0.95这财务数据再砍掉一半，那得糟糕成什么样子了？","text":"总市值\n42.33亿\n流通市值\n42.33亿\n总股本\n10.01亿\n流通股本\n10.01亿\n52周最高\n38.200\n52周最低\n3.710\n市盈率\n-4.44\n市净率\n2.62\n股息\n0\n股息收益率\n0.00%\nROA\n-24.29%\nROE\n-71.19%\n每股收益\n-0.95这财务数据再砍掉一半，那得糟糕成什么样子了？","html":"总市值\n42.33亿\n流通市值\n42.33亿\n总股本\n10.01亿\n流通股本\n10.01亿\n52周最高\n38.200\n52周最低\n3.710\n市盈率\n-4.44\n市净率\n2.62\n股息\n0\n股息收益率\n0.00%\nROA\n-24.29%\nROE\n-71.19%\n每股收益\n-0.95这财务数据再砍掉一半，那得糟糕成什么样子了？","likeSize":1,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":5691578,"commentId":"5691578","gmtCreate":1630304611969,"gmtModify":1630304611969,"authorId":9000000000000158,"author":{"id":9000000000000158,"idStr":"9000000000000158","authorId":9000000000000158,"name":"哎呀呀小伙子","avatar":"https://static.tigerbbs.com/df6a0fed4b2624034014be633476534a","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":811132860,"objectIdStr":"811132860","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"K-12教育部门主要提供为普通高等学校招生全国统一考试而设的备考课程。该公司推出创新的东方优播课程，该课程为低线城市学生提供的地区性直播互动辅导服务。学前教育部门主要通过公司的应用程序和甜甜圈在线英语课堂提供儿童在线教育。这一部分完全是砍掉了啊。","text":"K-12教育部门主要提供为普通高等学校招生全国统一考试而设的备考课程。该公司推出创新的东方优播课程，该课程为低线城市学生提供的地区性直播互动辅导服务。学前教育部门主要通过公司的应用程序和甜甜圈在线英语课堂提供儿童在线教育。这一部分完全是砍掉了啊。","html":"K-12教育部门主要提供为普通高等学校招生全国统一考试而设的备考课程。该公司推出创新的东方优播课程，该课程为低线城市学生提供的地区性直播互动辅导服务。学前教育部门主要通过公司的应用程序和甜甜圈在线英语课堂提供儿童在线教育。这一部分完全是砍掉了啊。","likeSize":1,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":5692125,"commentId":"5692125","gmtCreate":1630309397520,"gmtModify":1630309397520,"authorId":9000000000000218,"author":{"id":9000000000000218,"idStr":"9000000000000218","authorId":9000000000000218,"name":"罗杰斯之王","avatar":"https://static.tigerbbs.com/2a3c9f1e4d056b8f2c66c22a8930b166","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":811132860,"objectIdStr":"811132860","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"现金流到了红线的位置，这种情况危机就会一触即发，新东方想熬过寒冬不会那么容易，无论如何转型，都是如履薄冰。","text":"现金流到了红线的位置，这种情况危机就会一触即发，新东方想熬过寒冬不会那么容易，无论如何转型，都是如履薄冰。","html":"现金流到了红线的位置，这种情况危机就会一触即发，新东方想熬过寒冬不会那么容易，无论如何转型，都是如履薄冰。","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":5691599,"commentId":"5691599","gmtCreate":1630304786378,"gmtModify":1630304786378,"authorId":9000000000000159,"author":{"id":9000000000000159,"idStr":"9000000000000159","authorId":9000000000000159,"name":"宝宝金水_","avatar":"https://static.tigerbbs.com/3277b62086966882a8b4e45d9f8b88bb","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":811132860,"objectIdStr":"811132860","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"现金储备不足可能是拖垮新东方的最后一根稻草吧？不过这话为时尚早。","text":"现金储备不足可能是拖垮新东方的最后一根稻草吧？不过这话为时尚早。","html":"现金储备不足可能是拖垮新东方的最后一根稻草吧？不过这话为时尚早。","likeSize":1,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":5701937,"commentId":"5701937","gmtCreate":1630379013658,"gmtModify":1630379013658,"authorId":9000000000000230,"author":{"id":9000000000000230,"idStr":"9000000000000230","authorId":9000000000000230,"name":"大小摩根","avatar":"https://static.tigerbbs.com/dd450d2367e62285a8c20a8d2b5fcdbf","vip":8,"crmLevel":1,"crmLevelSwitch":0,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