How can I use value investing to analyze a company s annual report?

Business Cycle Accounts receivable turnover days + inventory turnover days.

how to pass; Annual report to compare the value of the company's investments.

Trend analysis methodThrough trend analysis, you can see whether the company has good growth potential from a longer cycle. Growth is the soul of the company, and it is a very important indicator to measure the operating conditions and development prospects of listed companies. Select key indicators such as operating income, net profit, and total assets for more than three consecutive years, so that you can judge whether a company is showing a trend of development.

If it can maintain a growth rate of 30% every year, it is undoubtedly a very valuable investment. After analyzing the company's position in the industry and the company's own development trend, the ratio analysis method can analyze and evaluate the company's business activities. It is more commonly used to analyze the profitability through the return on assets, the growth of the company through the reinvestment rate, and the operating ability of the company through the inventory turnover rate and asset turnover rate.

The financial statement is the company's report card, through the comparative analysis of the data in the report card, trend analysis, ratio analysis, screening out companies with strong profitability and good growth targets for investment, we can no longer become leeks in the market.

Through the fundamental analysis of the company, it is possible to find out whether the company is a company with investment value. The basic analysis method analyzes the macroeconomic situation, industry conditions, and business conditions that determine the intrinsic value and impact of the company, evaluates the investment value and reasonable value of the company, compares it with the market price, and forms a recommendation for buying and selling accordingly.

Fundamental analysis includes the following three aspects:

1) Macroeconomic analysis. Study the impact of economic policies (monetary policy, fiscal policy, tax policy, industrial policy, etc.) and economic indicators (GDP, unemployment rate, inflation rate, interest rate, exchange rate, etc.) on the market.

2) Industry analysis. Analyze the impact of industrial prospects and regional economic development on listed companies.

3) Company Analysis. Specifically analyze the industry status, market prospects, and financial status of listed companies.

Every industry company has four development periods, the formation period, the growth period, the stability period, and the recession period. Industries that are in a period of decline and recession are called sunset industries; An industry that is in a period of formation and growth is called a sunrise industry. When starting from the bottom, investors had better choose the sunrise industry, and do not enter the sunset industry, that is, companies that do not have investment value.

The analysis of the industry in which the listed company is located is very important for long-term investment. The current situation and future development trend of the industry have a huge impact on the listed companies in the industry. When an industry is in the period of overall growth, there is a lot of room for future development, and all listed companies in the industry have better performance and greater room for development.

For example, the telecommunications industry, computer software industry and high-tech industry in Shenzhen and Shanghai show that the overall company performance is higher than that of other industries.

There are a large number of sample articles in the "Investment Value Analysis Report of Listed Companies".

Company analysis first looks at whether the company's products or services are unique, whether they have a monopoly, and whether they have the right to raise prices independently.

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Mainly look at the following data: return on equity, profit margin, cash flow, provident fund, undistributed profits and liabilities, etc.