财报的一点看法

跟谁学财报, 2020前半年的话, 6个月的时间里整体的营收417,247 KUSD, 换算成人民币差不多2.85亿, 他们网站上的课程差不多一个在3600-6000元附近, 按照5000算平均好了, 差不多57万用户(不考虑复购的情况下).

一年的话, 简单*2就是114万用户. 按照他们现在的估值, PB达到了90, PE也差不多400多, 如果假设稳定运营了, PE能被消化到20, 那么就是说earning还要翻20倍, 如果他们的基础设施(比如运营硬件等完全不用增加费用, 新增用户完全可以使用已有的设备等不需额外运营成本), 那么是不是说一年的用户要达到 114万*20=2000多万? 如果考虑复购等因素, 那也需要有个1000万以上的稳定用户了. 感觉财报的数据没问题的情况下, 这个估值是不是有点过高了?

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

陈先生呀
2020-09-03
陈先生呀
猿辅导估值130亿美金，你看看他的财务数据再来看跟谁学 [捂脸]，会有所发现
- 秋哥回复陈先生呀:
  这个数据哪儿来的
- Norman_111回复陈先生呀:
  哈哈哈看哪个是对比标准了😂😂
- 陈先生呀回复Norman_111:
  哈哈，老哥怎么这样想啊，猿辅导亏损10亿，都估值130亿美金，那跟谁学盈利0.7亿，是不是比猿辅导更牛逼，运营效率
- Norman_111回复陈先生呀:
  猿辅导营销费用应该很大，到处都是电梯广告。跟谁学貌似没见到。那这么看gsx估值真的上天了
- 陈先生呀回复Norman_111:
  猿辅导Q2营收10-12亿(包斑马ai)但亏损10亿
T20211211619
2020-09-03
T20211211619
兄弟，跟谁学用户大部分是白嫖免费课程的，你算均价和实际会天差地别。
- T20211211619回复Norman_111:
  你说的没错
- Norman_111:
  所以世纪用户数只会比我算得还多的，如果根据他们自己财报数据的话
小冬_1637
2020-09-04
小冬_1637
学科报名咋能按人头算呢？
语数英这就3科了
七月份的尾巴你是狮子座
2020-09-17
七月份的尾巴你是狮子座
分析很详细
羿起来
2020-09-04
羿起来
不懂行就看数据也是高手啊
银杏天下
2020-09-04
银杏天下
估值过低！

发表看法

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