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东大门
2023-01-25
$量子之歌(QSG)$
这垃圾公司还能上市成功,不出半年跌成够,没一点价值的公司
东大门
2022-03-15
$尚德机构(STG)$
还不跌停
东大门
2021-04-12
$红黄蓝(RYB)$
这种公司就得远离,问题不断!
东大门
2021-04-12
垃圾公司,远离这样的公司
东大门
2021-04-12
$红黄蓝(RYB)$
垃圾公司
东大门
2021-03-05
$跟谁学(GSX)$
营收增长下降严重,持续开始亏损,目前还没有获客的好方式,前景不明朗!
东大门
2021-02-04
$红黄蓝(RYB)$
https://ishare.ifeng.com/c/s/v0046xQQE95xpHXg3bJIas2LkseJBa8YxKBIJmSIkrjlJE4__?from=ucms_web这种公司就得清理出去
东大门
2021-02-04
$红黄蓝(RYB)$
基本做事,垃圾公司
东大门
2020-10-13
聚合到高途一个下面,能说明两点1.跟谁学和高途课堂学员重合度太高,市场已经从增量变成趋于饱和,获取的学员有n多家机构都在跟进,以前的增量市场可能重合的学员会很少,预示高增长结束了,结束的同时竞争对比变大了,营销成本必然增加!2.预示着内外部的压力下不得不合并集中优势来做,内部的整合必然导致内耗,外部的压力会导致内部生变
跟谁学主动求变:集中K12业务,做大做强”高途课堂”
东大门
2020-09-02
$跟谁学(GSX)$
盘前的跌就是市场对从事教育行业人员的一个教训,特别是跟谁学内部员工,觉得公司增长挺好的,应该财报前赶紧买些,赚点钱,实际不了解估值不了解市场,跟风会害了自己,自己赚的钱投到股市又还给了公司!
东大门
2020-09-02
$跟谁学(GSX)$
说下Q2财报疫情下的财报主要数据!第一正价课招生332%增长,去年没有疫情q2招生250%,19q2比20q2的增长率提升33%!20年q1招生307%,19没疫情q1招生200%,招生增长率提升50%,说明二季度的在疫情完全影响下正价课招生量下降了,也就之后招生量增长率不会创新高了,走入增长率下降的趋势,后期估值的高低主要看净利润了!第二净利润率4%,从一季度将近14%,降了快10个点,说明营销成本增加了,毛利率应该没有下降,预示着连续盈利的记录将被打破,后期会出现亏损!结论:今晚大概率会跌!
东大门
2020-09-01
$跟谁学(GSX)$
对于跟谁学现在挺难受,要平衡三方面的关系,招生量增长与学员承接能力,再者盈利能力倡导不烧钱的最小单位模式,那个出问题了就会严重影响自己在赛道的位置和市场对股价的反应!第一极力在扩充人员承接这么高的招生量,新进的师资和辅导老师,包括销售都不是一朝一夕就能打造成熟,教育是慢工细活,盲目的400%的增长,教育行业真可能会出问题!第二在吃完前期做tob业务的流量红利后,激烈的获客竞争必然导致成本的增加,前期人员大力的扩张来承接学员也必然导致效率降低进而成本增加,就会导致为了平衡盈利性财报会约束了招生的扩张!预测二季度,跟谁学会保净利润率,预估不会超10%,净收入继续高增长,正价课招生量低于一季度307%的增长!估值1300亿人民币绝对高估!
东大门
2020-08-07
$跟谁学(GSX)$
这是要把虚胖的中概股赶尽杀绝啊
东大门
2020-08-07
$跟谁学(GSX)$
美国做空机构按耐不住了
东大门
2020-08-05
$跟谁学(GSX)$
$二季度业绩决定一切,是腰斩一半,还是稳住估值,从学而思网校一季度16亿的业绩看,跟谁学很难做到年收入100亿,利润也就10亿,市值1770亿,市盈率177,是高是低自己看,现在正是收割教育公司个人投资散户的时候,自己在跟谁学赚的钱又还给公司!!!只看到增长,没看到估值的虚高!
东大门
2020-05-19
业务是跟上c端这一波在线起来了,得了市值,失了人心!不断的做空可能真把业务给折腾下去!
东大门
2020-05-06
$跟谁学(GSX)$
一群人都是等着财报发布大涨,高位卖呢,这怎么会涨呢!主要还是估值已经很高,加上浑水做空的市场不确定性和一群等着高位卖的人!
东大门
2020-05-06
这篇文章不错,转发给大家看
@夏夏夏:跟谁学Q1:高增长和做空之外,关注下高估值
东大门
2020-05-06
$跟谁学(GSX)$
$跟谁学(GSX)$第一先说营收的增长,疫情学员有充足的时间消耗课时,导致更多的四季度的递延收入确认为第一季度收入!而第一季度的递延收入并没有增长,二季度和三季度的营收没有保障!第二利润的增长,第四季度销售费用率从47%增长到58%,毛利率变化不大,净利润率的环比增长主要是增值税减免和政府补贴带来的!第三递延收入还降低些,从付费人次的增长率上来看,在疫情情况下307%太少了,上个季度即第四季度快300%总得来说,股价的上涨和下跌,看的是第一季度的付费人次和递延的收入,有苗头趋势销售费用的增长和毛利率的降低会拖累未来的净利润率!
东大门
2020-05-05
这篇文章不错,转发给大家看
@小虎周报:好未来:亏损是线下转线上之殇,递延收入含金量待考
去老虎APP查看更多动态
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href=\"https://laohu8.com/S/RYB\">$红黄蓝(RYB)$</a>基本做事,垃圾公司","text":"$红黄蓝(RYB)$基本做事,垃圾公司","images":[{"img":"https://static.tigerbbs.com/d740fbd98adfeff214064c2eaffa6ea7","width":"1080","height":"1929"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/317238933","isVote":1,"tweetType":1,"viewCount":1942,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":309379695,"gmtCreate":1602586526617,"gmtModify":1703827052827,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"聚合到高途一个下面,能说明两点1.跟谁学和高途课堂学员重合度太高,市场已经从增量变成趋于饱和,获取的学员有n多家机构都在跟进,以前的增量市场可能重合的学员会很少,预示高增长结束了,结束的同时竞争对比变大了,营销成本必然增加!2.预示着内外部的压力下不得不合并集中优势来做,内部的整合必然导致内耗,外部的压力会导致内部生变","listText":"聚合到高途一个下面,能说明两点1.跟谁学和高途课堂学员重合度太高,市场已经从增量变成趋于饱和,获取的学员有n多家机构都在跟进,以前的增量市场可能重合的学员会很少,预示高增长结束了,结束的同时竞争对比变大了,营销成本必然增加!2.预示着内外部的压力下不得不合并集中优势来做,内部的整合必然导致内耗,外部的压力会导致内部生变","text":"聚合到高途一个下面,能说明两点1.跟谁学和高途课堂学员重合度太高,市场已经从增量变成趋于饱和,获取的学员有n多家机构都在跟进,以前的增量市场可能重合的学员会很少,预示高增长结束了,结束的同时竞争对比变大了,营销成本必然增加!2.预示着内外部的压力下不得不合并集中优势来做,内部的整合必然导致内耗,外部的压力会导致内部生变","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/309379695","repostId":"2074871943","repostType":2,"repost":{"id":"2074871943","pubTimestamp":1602314449,"share":"https://www.laohu8.com/m/news/2074871943?lang=&edition=full","pubTime":"2020-10-10 15:20","market":"us","language":"zh","title":"跟谁学主动求变:集中K12业务,做大做强”高途课堂”","url":"https://stock-news.laohu8.com/highlight/detail?id=2074871943","media":"中国新闻网","summary":"近日,在线教育上市公司跟谁学在其旗下“跟谁学APP”中发布《致跟谁学中小学学员的一封信》,在信中表示,“为了给大家提供更加优质专业的教育服务,决定将跟谁学品牌下的中小学在线课程和服务,统一至高途课堂品","content":"<div>\n<p>近日,在线教育上市公司跟谁学在其旗下“跟谁学APP”中发布《致跟谁学中小学学员的一封信》,在信中表示,“为了给大家提供更加优质专业的教育服务,决定将跟谁学品牌下的中小学在线课程和服务,统一至高途课堂品牌”。这意味着在K12在线教育领域采取双品牌三年之久的跟谁学,决定调整战略方向、集中资源,全力打造唯一的K12品牌。今年9月初,跟谁学发布Q2(2020年4-6月)业绩,财报显示其收入同比增长367%...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2020101015324579719008&s=b\">Web Link</a>\n\n</div>\n","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" 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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2020101015324579719008&s=b><strong>中国新闻网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>近日,在线教育上市公司跟谁学在其旗下“跟谁学APP”中发布《致跟谁学中小学学员的一封信》,在信中表示,“为了给大家提供更加优质专业的教育服务,决定将跟谁学品牌下的中小学在线课程和服务,统一至高途课堂品牌”。这意味着在K12在线教育领域采取双品牌三年之久的跟谁学,决定调整战略方向、集中资源,全力打造唯一的K12品牌。今年9月初,跟谁学发布Q2(2020年4-6月)业绩,财报显示其收入同比增长367%...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2020101015324579719008&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c0c4c03a5eea688b1e8fa7410c021db6","relate_stocks":{},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2020101015324579719008&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2074871943","content_text":"近日,在线教育上市公司跟谁学在其旗下“跟谁学APP”中发布《致跟谁学中小学学员的一封信》,在信中表示,“为了给大家提供更加优质专业的教育服务,决定将跟谁学品牌下的中小学在线课程和服务,统一至高途课堂品牌”。这意味着在K12在线教育领域采取双品牌三年之久的跟谁学,决定调整战略方向、集中资源,全力打造唯一的K12品牌。今年9月初,跟谁学发布Q2(2020年4-6月)业绩,财报显示其收入同比增长367%,达16.5亿元,连续7季度收入规模同比翻4.5倍以上,高速增长仍在继续。而且,跟谁学是目前在线直播大班课领域中唯一规模化盈利的企业,也是在线教育行业唯一连续9季度实现盈利的企业。不过,与此同时,在线教育的行业竞争也在加剧。K12领域中,学而思网校、猿辅导、作业帮、网易有道、新东方在线、VIPKID等头部玩家纷纷加强师资建设和营销投入,以获取更多新用户和营收;字节跳动、阿里和腾讯等互联网巨头也以各自的方式参与到竞争中来。营销轰炸可以从各大品牌的综艺赞助、电视广告、微信公众号和信息流广告、公交地铁广告、户外广告中被清晰感知,据媒体估计,仅学而思、猿辅导、作业帮、跟谁学四家在暑期的营销费用就达到了60亿元。中国科学院大数据挖掘与知识管理重点实验室在《中国K12在线教育市场调研及用户消费行为报告》中指出,未来5年,受消费需求的推动、政策扶持、技术和资本的推动等多因素影响,K12在线教育行业马太效应将进一步加剧。业内人士认为,在激烈竞争的背景下,打造和拥有一个业内绝对领先的品牌,胜过拥有多个一般品牌。跟谁学将K12业务集中到旗下两个K12品牌中规模和师资力量更强的高途课堂中去,有其合理性。根据跟谁学最新发布的2020年Q2财报,在跟谁学的各项业务中,K12业务占比84%,是其主营业务。而在K12业务中,高途课堂的营收又占据了其中大头。跟谁学此前曾在5月1日回应做空的声明中表示,在2019年的公司K12业务中,高途课堂收入占比高达69.34%,占绝对份额。跟谁学方面表示,将以新“高途课堂”品牌全面融合打通分散于两处的师资资源、服务标准、产品资源、技术资源和数据体系,将围绕“大班教学、小班服务、个性化体验”,提供升级后的在线直播大班课产品和服务,使得高途课堂将成为一个面向未来客户需求,服务更好、竞争力更强的K12品牌,以持续引领行业发展。作为K12在线教育头部企业,跟谁学在K12领域实力强劲。此前,跟谁学发布2020年高考学员成绩榜。在来自全国各地的跟谁学及旗下K12辅导机构高途课堂的学员中,共有四位高分考生高考成绩超过700分,有26人进入了省前100名,有78人进入了省前1000名,超过800位学员高考分数相比模拟考试进步超过30分。据媒体报道,这一成绩领先于在线教育领域内所有其它竞争对手。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":971424442,"gmtCreate":1599035630086,"gmtModify":1704221147094,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>说下Q2财报疫情下的财报主要数据!第一正价课招生332%增长,去年没有疫情q2招生250%,19q2比20q2的增长率提升33%!20年q1招生307%,19没疫情q1招生200%,招生增长率提升50%,说明二季度的在疫情完全影响下正价课招生量下降了,也就之后招生量增长率不会创新高了,走入增长率下降的趋势,后期估值的高低主要看净利润了!第二净利润率4%,从一季度将近14%,降了快10个点,说明营销成本增加了,毛利率应该没有下降,预示着连续盈利的记录将被打破,后期会出现亏损!结论:今晚大概率会跌!","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>说下Q2财报疫情下的财报主要数据!第一正价课招生332%增长,去年没有疫情q2招生250%,19q2比20q2的增长率提升33%!20年q1招生307%,19没疫情q1招生200%,招生增长率提升50%,说明二季度的在疫情完全影响下正价课招生量下降了,也就之后招生量增长率不会创新高了,走入增长率下降的趋势,后期估值的高低主要看净利润了!第二净利润率4%,从一季度将近14%,降了快10个点,说明营销成本增加了,毛利率应该没有下降,预示着连续盈利的记录将被打破,后期会出现亏损!结论:今晚大概率会跌!","text":"$跟谁学(GSX)$说下Q2财报疫情下的财报主要数据!第一正价课招生332%增长,去年没有疫情q2招生250%,19q2比20q2的增长率提升33%!20年q1招生307%,19没疫情q1招生200%,招生增长率提升50%,说明二季度的在疫情完全影响下正价课招生量下降了,也就之后招生量增长率不会创新高了,走入增长率下降的趋势,后期估值的高低主要看净利润了!第二净利润率4%,从一季度将近14%,降了快10个点,说明营销成本增加了,毛利率应该没有下降,预示着连续盈利的记录将被打破,后期会出现亏损!结论:今晚大概率会跌!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/971411396","isVote":1,"tweetType":1,"viewCount":3963,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":971230204,"gmtCreate":1598962768908,"gmtModify":1704220816587,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>一群人都是等着财报发布大涨,高位卖呢,这怎么会涨呢!主要还是估值已经很高,加上浑水做空的市场不确定性和一群等着高位卖的人!","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>一群人都是等着财报发布大涨,高位卖呢,这怎么会涨呢!主要还是估值已经很高,加上浑水做空的市场不确定性和一群等着高位卖的人!","text":"$跟谁学(GSX)$一群人都是等着财报发布大涨,高位卖呢,这怎么会涨呢!主要还是估值已经很高,加上浑水做空的市场不确定性和一群等着高位卖的人!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/927111382","isVote":1,"tweetType":1,"viewCount":2247,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3522965446641708","authorId":"3522965446641708","name":"winter_lee","avatar":"https://static.tigerbbs.com/46202d4a1b95a6e7c451600d206acbb9","crmLevel":6,"crmLevelSwitch":0},"content":"什么?浑水做空了?不是香橼和灰熊吗","text":"什么?浑水做空了?不是香橼和灰熊吗","html":"什么?浑水做空了?不是香橼和灰熊吗"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":927197463,"gmtCreate":1588771716352,"gmtModify":1704178368892,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"这篇文章不错,转发给大家看","listText":"这篇文章不错,转发给大家看","text":"这篇文章不错,转发给大家看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/927197463","repostId":"927190272","repostType":1,"repost":{"id":927190272,"gmtCreate":1588769431281,"gmtModify":1704178358626,"author":{"id":"163879441421586","authorId":"163879441421586","name":"夏夏夏","avatar":"https://static.tigerbbs.com/58ae2606862e6fc6213bbfb1de0eef2c","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"title":"跟谁学Q1:高增长和做空之外,关注下高估值","htmlText":"经历灰熊(Grizzly)和香橼两番做空,<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a> 今天发布2020年第一季度财报。业务数据一如往季高增长,营收12.98亿元同比增382%,净利润1.48亿元同比增336.6%,盘前股价涨超6%。同时当前股价对应动态PE约为174倍PS约为24倍,且不去追究跟谁学和做空机构的纠缠,高估值数据也需思量。 同比数据亮眼高增长,环比下行 一季度公司核心数据,营收12.98亿元净利润1.48亿元,双双击败华尔街预期。 如果一定要“鸡蛋里挑骨头”,你则会说跟谁学2020Q1终于营收增速低于400%,这可是连续保持了4个季度的数据。 整个来说,华尔街预计的2020年公司营收增长约200%,不过从公司给出的二季度指引来看,完成机构这个小目标应无悬念。 净利润端我们看到同比大增336.6%,但也应该关注到环比的下降,如同营收端的表现。此外,运营利润率由上季度的17.9%降为本季度的7.1%。包括毛利率也在一季度企稳至78.2%,结束了连续8个季度的上行趋势;或许侧面表明虽然一季度受疫情影响拉动在线教育需求,但整体市场变现并非完全顺风。 同时去看跟谁学的销售费用,从去年同期的9950万元猛增至7.57亿元,增幅超7倍。尽管老生常谈的销售费用率超出营收增长,不过带来一个问题是,或许有费用增长而营收无法跟上的尴尬。整体运营利润率来到7.1%,不得不说作为唯一一家盈利的在线教育公司,一枝独秀依然。市场永远关注头部和高增长,这是跟谁学吸引押注的关键。 高估值或透支股价成长空间 以盘前40美元的价格,跟谁学是一家市值约100亿美元、动态市盈率超170倍、远期市盈率接近100倍的公司。2019年公司收入增长约400%,主要是受K-12课程付费课程注册人数的增长推动,华尔街预计2020年收入将","listText":"经历灰熊(Grizzly)和香橼两番做空,<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a> 今天发布2020年第一季度财报。业务数据一如往季高增长,营收12.98亿元同比增382%,净利润1.48亿元同比增336.6%,盘前股价涨超6%。同时当前股价对应动态PE约为174倍PS约为24倍,且不去追究跟谁学和做空机构的纠缠,高估值数据也需思量。 同比数据亮眼高增长,环比下行 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净利润端我们看到同比大增336.6%,但也应该关注到环比的下降,如同营收端的表现。此外,运营利润率由上季度的17.9%降为本季度的7.1%。包括毛利率也在一季度企稳至78.2%,结束了连续8个季度的上行趋势;或许侧面表明虽然一季度受疫情影响拉动在线教育需求,但整体市场变现并非完全顺风。 同时去看跟谁学的销售费用,从去年同期的9950万元猛增至7.57亿元,增幅超7倍。尽管老生常谈的销售费用率超出营收增长,不过带来一个问题是,或许有费用增长而营收无法跟上的尴尬。整体运营利润率来到7.1%,不得不说作为唯一一家盈利的在线教育公司,一枝独秀依然。市场永远关注头部和高增长,这是跟谁学吸引押注的关键。 高估值或透支股价成长空间 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href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>$跟谁学(GSX)$第一先说营收的增长,疫情学员有充足的时间消耗课时,导致更多的四季度的递延收入确认为第一季度收入!而第一季度的递延收入并没有增长,二季度和三季度的营收没有保障!第二利润的增长,第四季度销售费用率从47%增长到58%,毛利率变化不大,净利润率的环比增长主要是增值税减免和政府补贴带来的!第三递延收入还降低些,从付费人次的增长率上来看,在疫情情况下307%太少了,上个季度即第四季度快300%总得来说,股价的上涨和下跌,看的是第一季度的付费人次和递延的收入,有苗头趋势销售费用的增长和毛利率的降低会拖累未来的净利润率!","text":"$跟谁学(GSX)$$跟谁学(GSX)$第一先说营收的增长,疫情学员有充足的时间消耗课时,导致更多的四季度的递延收入确认为第一季度收入!而第一季度的递延收入并没有增长,二季度和三季度的营收没有保障!第二利润的增长,第四季度销售费用率从47%增长到58%,毛利率变化不大,净利润率的环比增长主要是增值税减免和政府补贴带来的!第三递延收入还降低些,从付费人次的增长率上来看,在疫情情况下307%太少了,上个季度即第四季度快300%总得来说,股价的上涨和下跌,看的是第一季度的付费人次和递延的收入,有苗头趋势销售费用的增长和毛利率的降低会拖累未来的净利润率!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/927355496","isVote":1,"tweetType":1,"viewCount":4223,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3549980393503187","authorId":"3549980393503187","name":"我就喜欢","avatar":"https://static.tigerbbs.com/e295176ca301becfb72e7a80771ab6d7","crmLevel":1,"crmLevelSwitch":0},"content":"还有一部分做慈善了啊,不是所有的商家都只会发国难财!","text":"还有一部分做慈善了啊,不是所有的商家都只会发国难财!","html":"还有一部分做慈善了啊,不是所有的商家都只会发国难财!"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":924785367,"gmtCreate":1588610769159,"gmtModify":1704367931188,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"这篇文章不错,转发给大家看","listText":"这篇文章不错,转发给大家看","text":"这篇文章不错,转发给大家看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/924785367","repostId":"924408664","repostType":1,"repost":{"id":924408664,"gmtCreate":1588552382344,"gmtModify":1710140072056,"author":{"id":"36979109942400","authorId":"36979109942400","name":"小虎周报","avatar":"https://static.laohu8.com/f7b172cf773c77a3f0df67695c126b51","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"title":"好未来:亏损是线下转线上之殇,递延收入含金量待考","htmlText":"好未来<a target=\"_blank\" href=\"https://laohu8.com/S/TAL\">$(TAL)$</a>于4月28日,发布了截至2020年2月29日的2020财年第四季度和全财年的未经审计的业绩。 2020财年四季度营业收入8.58亿美元,同比+18.05%,比Bloomberg一致预期8.61亿美元+0.39%;Non-GAAP运营亏损为860万美元,去年同期为盈利1.37亿美元;GAAP每股亏损为0.15美元/ADS,一致预期为0.037美元/ADS。 投资要点 受疫情爆发的影响,线下课程受停摆影响,“培优”业务不及预期。线下小班业务Q4同比+6%(美元计)或9%(人民币计),占总营收的比例从去年的76%下降到68%。线下小班入学数增长从上季度的同比+61%下降至+37%。 线上业务增长加快,利润率低,但有望提前实现盈利。因为停止了线下运营,学而思网校等线上课程增长较快,同比增长比去年的+86%有所下降,但也有+72%。线上课程入学数增长同比+96%。学而思网校的营收占比从去年的17%增长至24%。 教师成本增大,市场开支增加,可能对未来利润率持续产生负面影响。Q4收入成本同比+32.6%,主要由于教师薪酬、租金成本和学习材料的增长。销售及市场推广费用同比+78.6%,主要是开展更多的营销推广活动来吸引客户、提升品牌,同时向销售和市场营销人员提供了更多支持。运营利润率首次跌至-4.81%,持续的线上教育竞争可能会长期损害利润率,未来市场投放效率成为运营关键。 自爆造假的“轻课”业务影响收入约2.6%,影响利润率16%。本次财报将2019年此前3个季度的数据进行了修正,减去了“轻课”部分的虚增数据。2019年前3季度总计虚增收入8610万美元,占全年总营收比例约2.6%。同时产生的运营利润差额约为2640万美元,差异达16%。不过虚增部分的业务并","listText":"好未来<a target=\"_blank\" href=\"https://laohu8.com/S/TAL\">$(TAL)$</a>于4月28日,发布了截至2020年2月29日的2020财年第四季度和全财年的未经审计的业绩。 2020财年四季度营业收入8.58亿美元,同比+18.05%,比Bloomberg一致预期8.61亿美元+0.39%;Non-GAAP运营亏损为860万美元,去年同期为盈利1.37亿美元;GAAP每股亏损为0.15美元/ADS,一致预期为0.037美元/ADS。 投资要点 受疫情爆发的影响,线下课程受停摆影响,“培优”业务不及预期。线下小班业务Q4同比+6%(美元计)或9%(人民币计),占总营收的比例从去年的76%下降到68%。线下小班入学数增长从上季度的同比+61%下降至+37%。 线上业务增长加快,利润率低,但有望提前实现盈利。因为停止了线下运营,学而思网校等线上课程增长较快,同比增长比去年的+86%有所下降,但也有+72%。线上课程入学数增长同比+96%。学而思网校的营收占比从去年的17%增长至24%。 教师成本增大,市场开支增加,可能对未来利润率持续产生负面影响。Q4收入成本同比+32.6%,主要由于教师薪酬、租金成本和学习材料的增长。销售及市场推广费用同比+78.6%,主要是开展更多的营销推广活动来吸引客户、提升品牌,同时向销售和市场营销人员提供了更多支持。运营利润率首次跌至-4.81%,持续的线上教育竞争可能会长期损害利润率,未来市场投放效率成为运营关键。 自爆造假的“轻课”业务影响收入约2.6%,影响利润率16%。本次财报将2019年此前3个季度的数据进行了修正,减去了“轻课”部分的虚增数据。2019年前3季度总计虚增收入8610万美元,占全年总营收比例约2.6%。同时产生的运营利润差额约为2640万美元,差异达16%。不过虚增部分的业务并","text":"好未来$(TAL)$于4月28日,发布了截至2020年2月29日的2020财年第四季度和全财年的未经审计的业绩。 2020财年四季度营业收入8.58亿美元,同比+18.05%,比Bloomberg一致预期8.61亿美元+0.39%;Non-GAAP运营亏损为860万美元,去年同期为盈利1.37亿美元;GAAP每股亏损为0.15美元/ADS,一致预期为0.037美元/ADS。 投资要点 受疫情爆发的影响,线下课程受停摆影响,“培优”业务不及预期。线下小班业务Q4同比+6%(美元计)或9%(人民币计),占总营收的比例从去年的76%下降到68%。线下小班入学数增长从上季度的同比+61%下降至+37%。 线上业务增长加快,利润率低,但有望提前实现盈利。因为停止了线下运营,学而思网校等线上课程增长较快,同比增长比去年的+86%有所下降,但也有+72%。线上课程入学数增长同比+96%。学而思网校的营收占比从去年的17%增长至24%。 教师成本增大,市场开支增加,可能对未来利润率持续产生负面影响。Q4收入成本同比+32.6%,主要由于教师薪酬、租金成本和学习材料的增长。销售及市场推广费用同比+78.6%,主要是开展更多的营销推广活动来吸引客户、提升品牌,同时向销售和市场营销人员提供了更多支持。运营利润率首次跌至-4.81%,持续的线上教育竞争可能会长期损害利润率,未来市场投放效率成为运营关键。 自爆造假的“轻课”业务影响收入约2.6%,影响利润率16%。本次财报将2019年此前3个季度的数据进行了修正,减去了“轻课”部分的虚增数据。2019年前3季度总计虚增收入8610万美元,占全年总营收比例约2.6%。同时产生的运营利润差额约为2640万美元,差异达16%。不过虚增部分的业务并","images":[{"img":"https://static.tigerbbs.com/9201d1f27754c2f8bc3e209db666a0a4"},{"img":"https://static.tigerbbs.com/393e342bbbe521932a5711b80138e4d5"},{"img":"https://static.tigerbbs.com/ab309d1ed144fe83f8fc71a062f54c42"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/924408664","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":14,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":787,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0},"content":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题,可以获得更多曝光哦~如果您想创作优质文章,请查看老虎社区创作指引","text":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题,可以获得更多曝光哦~如果您想创作优质文章,请查看老虎社区创作指引","html":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题,可以获得更多曝光哦~如果您想创作优质文章,请查看老虎社区创作指引"}],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":971424442,"gmtCreate":1599035630086,"gmtModify":1704221147094,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>盘前的跌就是市场对从事教育行业人员的一个教训,特别是跟谁学内部员工,觉得公司增长挺好的,应该财报前赶紧买些,赚点钱,实际不了解估值不了解市场,跟风会害了自己,自己赚的钱投到股市又还给了公司!","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>盘前的跌就是市场对从事教育行业人员的一个教训,特别是跟谁学内部员工,觉得公司增长挺好的,应该财报前赶紧买些,赚点钱,实际不了解估值不了解市场,跟风会害了自己,自己赚的钱投到股市又还给了公司!","text":"$跟谁学(GSX)$盘前的跌就是市场对从事教育行业人员的一个教训,特别是跟谁学内部员工,觉得公司增长挺好的,应该财报前赶紧买些,赚点钱,实际不了解估值不了解市场,跟风会害了自己,自己赚的钱投到股市又还给了公司!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/971424442","isVote":1,"tweetType":1,"viewCount":3008,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3532489262548843","authorId":"3532489262548843","name":"雨夜静听","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"content":"内部员工确实很想买,关窗期没法买只能眼看着股价波动","text":"内部员工确实很想买,关窗期没法买只能眼看着股价波动","html":"内部员工确实很想买,关窗期没法买只能眼看着股价波动"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":971411396,"gmtCreate":1599026716415,"gmtModify":1704221097104,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>说下Q2财报疫情下的财报主要数据!第一正价课招生332%增长,去年没有疫情q2招生250%,19q2比20q2的增长率提升33%!20年q1招生307%,19没疫情q1招生200%,招生增长率提升50%,说明二季度的在疫情完全影响下正价课招生量下降了,也就之后招生量增长率不会创新高了,走入增长率下降的趋势,后期估值的高低主要看净利润了!第二净利润率4%,从一季度将近14%,降了快10个点,说明营销成本增加了,毛利率应该没有下降,预示着连续盈利的记录将被打破,后期会出现亏损!结论:今晚大概率会跌!","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>说下Q2财报疫情下的财报主要数据!第一正价课招生332%增长,去年没有疫情q2招生250%,19q2比20q2的增长率提升33%!20年q1招生307%,19没疫情q1招生200%,招生增长率提升50%,说明二季度的在疫情完全影响下正价课招生量下降了,也就之后招生量增长率不会创新高了,走入增长率下降的趋势,后期估值的高低主要看净利润了!第二净利润率4%,从一季度将近14%,降了快10个点,说明营销成本增加了,毛利率应该没有下降,预示着连续盈利的记录将被打破,后期会出现亏损!结论:今晚大概率会跌!","text":"$跟谁学(GSX)$说下Q2财报疫情下的财报主要数据!第一正价课招生332%增长,去年没有疫情q2招生250%,19q2比20q2的增长率提升33%!20年q1招生307%,19没疫情q1招生200%,招生增长率提升50%,说明二季度的在疫情完全影响下正价课招生量下降了,也就之后招生量增长率不会创新高了,走入增长率下降的趋势,后期估值的高低主要看净利润了!第二净利润率4%,从一季度将近14%,降了快10个点,说明营销成本增加了,毛利率应该没有下降,预示着连续盈利的记录将被打破,后期会出现亏损!结论:今晚大概率会跌!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/971411396","isVote":1,"tweetType":1,"viewCount":3963,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":971230204,"gmtCreate":1598962768908,"gmtModify":1704220816587,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>这是要把虚胖的中概股赶尽杀绝啊","listText":"<a 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target=\"_blank\" href=\"https://laohu8.com/S/TAL\">$(TAL)$</a>于4月28日,发布了截至2020年2月29日的2020财年第四季度和全财年的未经审计的业绩。 2020财年四季度营业收入8.58亿美元,同比+18.05%,比Bloomberg一致预期8.61亿美元+0.39%;Non-GAAP运营亏损为860万美元,去年同期为盈利1.37亿美元;GAAP每股亏损为0.15美元/ADS,一致预期为0.037美元/ADS。 投资要点 受疫情爆发的影响,线下课程受停摆影响,“培优”业务不及预期。线下小班业务Q4同比+6%(美元计)或9%(人民币计),占总营收的比例从去年的76%下降到68%。线下小班入学数增长从上季度的同比+61%下降至+37%。 线上业务增长加快,利润率低,但有望提前实现盈利。因为停止了线下运营,学而思网校等线上课程增长较快,同比增长比去年的+86%有所下降,但也有+72%。线上课程入学数增长同比+96%。学而思网校的营收占比从去年的17%增长至24%。 教师成本增大,市场开支增加,可能对未来利润率持续产生负面影响。Q4收入成本同比+32.6%,主要由于教师薪酬、租金成本和学习材料的增长。销售及市场推广费用同比+78.6%,主要是开展更多的营销推广活动来吸引客户、提升品牌,同时向销售和市场营销人员提供了更多支持。运营利润率首次跌至-4.81%,持续的线上教育竞争可能会长期损害利润率,未来市场投放效率成为运营关键。 自爆造假的“轻课”业务影响收入约2.6%,影响利润率16%。本次财报将2019年此前3个季度的数据进行了修正,减去了“轻课”部分的虚增数据。2019年前3季度总计虚增收入8610万美元,占全年总营收比例约2.6%。同时产生的运营利润差额约为2640万美元,差异达16%。不过虚增部分的业务并","listText":"好未来<a target=\"_blank\" href=\"https://laohu8.com/S/TAL\">$(TAL)$</a>于4月28日,发布了截至2020年2月29日的2020财年第四季度和全财年的未经审计的业绩。 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href=\"https://laohu8.com/S/STG\">$尚德机构(STG)$</a>还不跌停","text":"$尚德机构(STG)$还不跌停","images":[{"img":"https://static.tigerbbs.com/632b847c59880c5839b8a9e31edd9514","width":"1080","height":"2340"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/634951772","isVote":1,"tweetType":1,"viewCount":1498,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":342542818,"gmtCreate":1618234872934,"gmtModify":1618234872934,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"垃圾公司,远离这样的公司","listText":"垃圾公司,远离这样的公司","text":"垃圾公司,远离这样的公司","images":[{"img":"https://static.tigerbbs.com/23849aedf6a96d7ddc9fc4b572999de3","width":"1070","height":"763"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/342542818","isVote":1,"tweetType":1,"viewCount":1154,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":309379695,"gmtCreate":1602586526617,"gmtModify":1703827052827,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"聚合到高途一个下面,能说明两点1.跟谁学和高途课堂学员重合度太高,市场已经从增量变成趋于饱和,获取的学员有n多家机构都在跟进,以前的增量市场可能重合的学员会很少,预示高增长结束了,结束的同时竞争对比变大了,营销成本必然增加!2.预示着内外部的压力下不得不合并集中优势来做,内部的整合必然导致内耗,外部的压力会导致内部生变","listText":"聚合到高途一个下面,能说明两点1.跟谁学和高途课堂学员重合度太高,市场已经从增量变成趋于饱和,获取的学员有n多家机构都在跟进,以前的增量市场可能重合的学员会很少,预示高增长结束了,结束的同时竞争对比变大了,营销成本必然增加!2.预示着内外部的压力下不得不合并集中优势来做,内部的整合必然导致内耗,外部的压力会导致内部生变","text":"聚合到高途一个下面,能说明两点1.跟谁学和高途课堂学员重合度太高,市场已经从增量变成趋于饱和,获取的学员有n多家机构都在跟进,以前的增量市场可能重合的学员会很少,预示高增长结束了,结束的同时竞争对比变大了,营销成本必然增加!2.预示着内外部的压力下不得不合并集中优势来做,内部的整合必然导致内耗,外部的压力会导致内部生变","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/309379695","repostId":"2074871943","repostType":2,"isVote":1,"tweetType":1,"viewCount":1545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":944808720,"gmtCreate":1596813320560,"gmtModify":1704213769340,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>美国做空机构按耐不住了","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>美国做空机构按耐不住了","text":"$跟谁学(GSX)$美国做空机构按耐不住了","images":[{"img":"https://static.tigerbbs.com/68f6725a13faed2455de234a3d73a987","width":"1080","height":"1378"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/944808720","isVote":1,"tweetType":1,"viewCount":1226,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":959824443,"gmtCreate":1589861876782,"gmtModify":1704190894302,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"业务是跟上c端这一波在线起来了,得了市值,失了人心!不断的做空可能真把业务给折腾下去!","listText":"业务是跟上c端这一波在线起来了,得了市值,失了人心!不断的做空可能真把业务给折腾下去!","text":"业务是跟上c端这一波在线起来了,得了市值,失了人心!不断的做空可能真把业务给折腾下去!","images":[{"img":"https://static.tigerbbs.com/c1e8e45c1c9ea1a0bdfb15230fc4869e","width":"1080","height":"2340"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/959824443","isVote":1,"tweetType":1,"viewCount":936,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":927197463,"gmtCreate":1588771716352,"gmtModify":1704178368892,"author":{"id":"3465785335865419","authorId":"3465785335865419","name":"东大门","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"这篇文章不错,转发给大家看","listText":"这篇文章不错,转发给大家看","text":"这篇文章不错,转发给大家看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/927197463","repostId":"927190272","repostType":1,"repost":{"id":927190272,"gmtCreate":1588769431281,"gmtModify":1704178358626,"author":{"id":"163879441421586","authorId":"163879441421586","name":"夏夏夏","avatar":"https://static.tigerbbs.com/58ae2606862e6fc6213bbfb1de0eef2c","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"title":"跟谁学Q1:高增长和做空之外,关注下高估值","htmlText":"经历灰熊(Grizzly)和香橼两番做空,<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a> 今天发布2020年第一季度财报。业务数据一如往季高增长,营收12.98亿元同比增382%,净利润1.48亿元同比增336.6%,盘前股价涨超6%。同时当前股价对应动态PE约为174倍PS约为24倍,且不去追究跟谁学和做空机构的纠缠,高估值数据也需思量。 同比数据亮眼高增长,环比下行 一季度公司核心数据,营收12.98亿元净利润1.48亿元,双双击败华尔街预期。 如果一定要“鸡蛋里挑骨头”,你则会说跟谁学2020Q1终于营收增速低于400%,这可是连续保持了4个季度的数据。 整个来说,华尔街预计的2020年公司营收增长约200%,不过从公司给出的二季度指引来看,完成机构这个小目标应无悬念。 净利润端我们看到同比大增336.6%,但也应该关注到环比的下降,如同营收端的表现。此外,运营利润率由上季度的17.9%降为本季度的7.1%。包括毛利率也在一季度企稳至78.2%,结束了连续8个季度的上行趋势;或许侧面表明虽然一季度受疫情影响拉动在线教育需求,但整体市场变现并非完全顺风。 同时去看跟谁学的销售费用,从去年同期的9950万元猛增至7.57亿元,增幅超7倍。尽管老生常谈的销售费用率超出营收增长,不过带来一个问题是,或许有费用增长而营收无法跟上的尴尬。整体运营利润率来到7.1%,不得不说作为唯一一家盈利的在线教育公司,一枝独秀依然。市场永远关注头部和高增长,这是跟谁学吸引押注的关键。 高估值或透支股价成长空间 以盘前40美元的价格,跟谁学是一家市值约100亿美元、动态市盈率超170倍、远期市盈率接近100倍的公司。2019年公司收入增长约400%,主要是受K-12课程付费课程注册人数的增长推动,华尔街预计2020年收入将","listText":"经历灰熊(Grizzly)和香橼两番做空,<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a> 今天发布2020年第一季度财报。业务数据一如往季高增长,营收12.98亿元同比增382%,净利润1.48亿元同比增336.6%,盘前股价涨超6%。同时当前股价对应动态PE约为174倍PS约为24倍,且不去追究跟谁学和做空机构的纠缠,高估值数据也需思量。 同比数据亮眼高增长,环比下行 一季度公司核心数据,营收12.98亿元净利润1.48亿元,双双击败华尔街预期。 如果一定要“鸡蛋里挑骨头”,你则会说跟谁学2020Q1终于营收增速低于400%,这可是连续保持了4个季度的数据。 整个来说,华尔街预计的2020年公司营收增长约200%,不过从公司给出的二季度指引来看,完成机构这个小目标应无悬念。 净利润端我们看到同比大增336.6%,但也应该关注到环比的下降,如同营收端的表现。此外,运营利润率由上季度的17.9%降为本季度的7.1%。包括毛利率也在一季度企稳至78.2%,结束了连续8个季度的上行趋势;或许侧面表明虽然一季度受疫情影响拉动在线教育需求,但整体市场变现并非完全顺风。 同时去看跟谁学的销售费用,从去年同期的9950万元猛增至7.57亿元,增幅超7倍。尽管老生常谈的销售费用率超出营收增长,不过带来一个问题是,或许有费用增长而营收无法跟上的尴尬。整体运营利润率来到7.1%,不得不说作为唯一一家盈利的在线教育公司,一枝独秀依然。市场永远关注头部和高增长,这是跟谁学吸引押注的关键。 高估值或透支股价成长空间 以盘前40美元的价格,跟谁学是一家市值约100亿美元、动态市盈率超170倍、远期市盈率接近100倍的公司。2019年公司收入增长约400%,主要是受K-12课程付费课程注册人数的增长推动,华尔街预计2020年收入将","text":"经历灰熊(Grizzly)和香橼两番做空,$跟谁学(GSX)$ 今天发布2020年第一季度财报。业务数据一如往季高增长,营收12.98亿元同比增382%,净利润1.48亿元同比增336.6%,盘前股价涨超6%。同时当前股价对应动态PE约为174倍PS约为24倍,且不去追究跟谁学和做空机构的纠缠,高估值数据也需思量。 同比数据亮眼高增长,环比下行 一季度公司核心数据,营收12.98亿元净利润1.48亿元,双双击败华尔街预期。 如果一定要“鸡蛋里挑骨头”,你则会说跟谁学2020Q1终于营收增速低于400%,这可是连续保持了4个季度的数据。 整个来说,华尔街预计的2020年公司营收增长约200%,不过从公司给出的二季度指引来看,完成机构这个小目标应无悬念。 净利润端我们看到同比大增336.6%,但也应该关注到环比的下降,如同营收端的表现。此外,运营利润率由上季度的17.9%降为本季度的7.1%。包括毛利率也在一季度企稳至78.2%,结束了连续8个季度的上行趋势;或许侧面表明虽然一季度受疫情影响拉动在线教育需求,但整体市场变现并非完全顺风。 同时去看跟谁学的销售费用,从去年同期的9950万元猛增至7.57亿元,增幅超7倍。尽管老生常谈的销售费用率超出营收增长,不过带来一个问题是,或许有费用增长而营收无法跟上的尴尬。整体运营利润率来到7.1%,不得不说作为唯一一家盈利的在线教育公司,一枝独秀依然。市场永远关注头部和高增长,这是跟谁学吸引押注的关键。 高估值或透支股价成长空间 以盘前40美元的价格,跟谁学是一家市值约100亿美元、动态市盈率超170倍、远期市盈率接近100倍的公司。2019年公司收入增长约400%,主要是受K-12课程付费课程注册人数的增长推动,华尔街预计2020年收入将","images":[{"img":"https://static.tigerbbs.com/332bf9db1412ca02eb259138525914c1"},{"img":"https://static.tigerbbs.com/777accf64410f1661cd24c15aaf131f7"},{"img":"https://static.tigerbbs.com/f921bee96dc96103116b7d900b7bbff1"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/927190272","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":6,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":574,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}