{"id":26114,"date":"2021-10-28T11:24:21","date_gmt":"2021-10-28T03:24:21","guid":{"rendered":"https:\/\/\/?p=26114"},"modified":"2022-06-01T11:05:13","modified_gmt":"2022-06-01T03:05:13","slug":"roic-return-on-invested-capital","status":"publish","type":"post","link":"https:\/\/\/roic-return-on-invested-capital\/","title":{"rendered":"ROIC\u6295\u5165\u8cc7\u672c\u5831\u916c\u662f\u4ec0\u9ebc\uff1f\u516c\u5f0f\u5982\u4f55\u8a08\u7b97\uff1f"},"content":{"rendered":"<!-- \/367108978\/Rich01_PC_up_728x90 -->\n\t<div class='div-gpt-ad-css' id='div-gpt-ad-1564472272479-0' style='width: 728px; height: 90px;'>\n\t  <script>\n\t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1564472272479-0'); });\n\t  <\/script>\n\t<\/div><p><img decoding=\"async\" class=\"alignnone wp-image-37250 size-full\" src=/index.html"https:\/\/\/wp-content\/uploads\/20220601110452_95.jpg\" alt=\"ROIC\u6295\u5165\u8cc7\u672c\u5831\u916c\u662f\u4ec0\u9ebc\" width=\"1557\" height=\"815\" srcset=\"https:\/\/\/wp-content\/uploads\/20220601110452_95.jpg 1557w, https:\/\/\/wp-content\/uploads\/20220601110452_95-1536x804.jpg 1536w\" sizes=\"(max-width: 1557px) 100vw, 1557px\" \/><\/p>\n<p>\u4f01\u696d\u70ba\u4e86\u5275\u9020\u73fe\u91d1\u6d41\u91cf\u6703\u6295\u5165\u8cc7\u672c\uff0c<br \/>\n\u800c\u6295\u5165\u8cc7\u672c\u5f8c\u6240\u7372\u5f97\u7684\u5831\u916c\uff0c\u5c31\u662f <strong>\u6295\u5165\u8cc7\u672c\u5831\u916c\u7387(ROIC)<\/strong>\u3002<\/p>\n<p>\u672c\u7bc7\u5e02\u5834\u5148\u751f\u5c07\u4ecb\u7d39ROIC\u662f\u4ec0\u9ebc\u3001\u516c\u5f0f\u662f\u4ec0\u9ebc\u3001\u70ba\u4ec0\u9ebc\u8981\u7528ROIC\u3001\u53caROIC\u8207WACC\u4e4b\u9593\u7684\u95dc\u4fc2\u3002<\/p>\n<p><!--more--><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_64 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">\u672c\u6587\u5e02\u5834\u5148\u751f\u6703\u544a\u8a34\u4f60\uff1a<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6611fcb6aca6e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6611fcb6aca6e\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=/index.html"https:\/\/\/roic-return-on-invested-capital\/#ROIC%E6%8A%95%E5%85%A5%E8%B3%87%E6%9C%AC%E5%A0%B1%E9%85%AC%E6%98%AF%E4%BB%80%E9%BA%BC%EF%BC%9F\" title=\"ROIC\u6295\u5165\u8cc7\u672c\u5831\u916c\u662f\u4ec0\u9ebc\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">ROIC\u6295\u5165\u8cc7\u672c\u5831\u916c\u662f\u4ec0\u9ebc\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=/index.html"https:\/\/\/roic-return-on-invested-capital\/#%E7%82%BA%E4%BB%80%E9%BA%BC%E8%A6%81%E8%A8%88%E7%AE%97ROIC%EF%BC%9F\" title=\"\u70ba\u4ec0\u9ebc\u8981\u8a08\u7b97ROIC\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u70ba\u4ec0\u9ebc\u8981\u8a08\u7b97ROIC\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=/index.html"https:\/\/\/roic-return-on-invested-capital\/#ROIC%E7%9A%84%E5%84%AA%E9%BB%9E%E5%8F%8A%E9%99%90%E5%88%B6\" title=\"ROIC\u7684\u512a\u9ede\u53ca\u9650\u5236\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">ROIC\u7684\u512a\u9ede\u53ca\u9650\u5236<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=/index.html"https:\/\/\/roic-return-on-invested-capital\/#%E5%A6%82%E4%BD%95%E6%9F%A5%E8%A9%A2%E5%85%AC%E5%8F%B8%E7%9A%84ROIC%EF%BC%9F\" title=\"\u5982\u4f55\u67e5\u8a62\u516c\u53f8\u7684ROIC\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u5982\u4f55\u67e5\u8a62\u516c\u53f8\u7684ROIC\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=/index.html"https:\/\/\/roic-return-on-invested-capital\/#ROIC%E6%8A%95%E5%85%A5%E8%B3%87%E6%9C%AC%E5%A0%B1%E9%85%AC%E5%BF%AB%E9%80%9F%E9%87%8D%E9%BB%9E%E6%95%B4%E7%90%86\" title=\"ROIC\u6295\u5165\u8cc7\u672c\u5831\u916c\u5feb\u901f\u91cd\u9ede\u6574\u7406\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">ROIC\u6295\u5165\u8cc7\u672c\u5831\u916c\u5feb\u901f\u91cd\u9ede\u6574\u7406<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"ROIC%E6%8A%95%E5%85%A5%E8%B3%87%E6%9C%AC%E5%A0%B1%E9%85%AC%E6%98%AF%E4%BB%80%E9%BA%BC%EF%BC%9F\"><\/span>ROIC\u6295\u5165\u8cc7\u672c\u5831\u916c\u662f\u4ec0\u9ebc\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>ROIC\u7684\u82f1\u6587\u662fReturn on invested capital\uff0c<br \/>\n\u4e2d\u6587\u53c8\u7a31<strong>\u6295\u5165\u8cc7\u672c\u5831\u916c\u7387\u3001\u6295\u5165\u8cc7\u672c\u56de\u5831\u7387<\/strong>\uff0c\u610f\u601d\u662f\u516c\u53f8\u6295\u5165\u8cc7\u672c\u5f8c\u6240\u7372\u5f97\u7684\u5831\u916c\u3002<\/p>\n<h3>ROIC\u8a08\u7b97\u516c\u5f0f\uff1a<\/h3>\n<p>ROIC\u6709\u5f88\u591a\u7a2e\u4e0d\u540c\u7684\u7b97\u6cd5\uff0c\u6bd4\u8f03\u5e38\u898b\u7684\u8a08\u7b97\u516c\u5f0f\u5982\u4e0b\uff1a<\/p>\n<blockquote><p><strong>ROIC = EBIT \u00d7 (1 \u2013 \u7a05\u7387) \u00f7\u6295\u5165\u8cc7\u672c<\/strong><\/p>\n<p><strong>\u7a05\u524d\u606f\u524d\u5229\u6f64(EBIT) = \u71df\u696d\u6536\u5165 \u2013 \u71df\u696d\u6210\u672c \u2013 \u71df\u696d\u8cbb\u7528 + \u71df\u696d\u5916\u6536\u5165\u652f\u51fa (\u6216\u662f\u7a05\u524d\u6de8\u5229 + \u5229\u606f\u8cbb\u7528)<br \/>\n<\/strong><\/p><\/blockquote>\n<p>\u5176\u4e2d\uff0c<br \/>\nEBIT \u00d7 (1 \u2013 \u7a05\u7387)\u4e5f\u6709\u500b\u5c08\u6709\u540d\u8a5e\uff0c\u7a31\u70ba\u7a05\u5f8c\u6de8\u71df\u696d\u5229\u6f64(NOPAT)<br \/>\nNOPAT = EBIT \u00d7 (1 \u2013 \u7a05\u7387)<strong><br \/>\n<\/strong><\/p>\n<p>\u4e5f\u6709\u4eba\u7528\u71df\u696d\u5229\u76ca(Operating income)\u4f86\u4ee3\u66ffEBIT\uff0c\u907f\u514d\u628a\u71df\u696d\u5916\u6536\u652f\u8a08\u7b97\u9032\u4f86\u3002<br \/>\n\u71df\u696d\u5229\u76ca\u00a0 = \u71df\u696d\u6536\u5165 \u2013 \u71df\u696d\u6210\u672c \u2013 \u71df\u696d\u8cbb\u7528\uff0c<\/p>\n<p>\u5206\u6bcd\u7684<strong>\u6295\u5165\u8cc7\u672c( invested capital)<\/strong>\u4e5f\u6709\u591a\u7a2e\u4e0d\u540c\u7684\u7b97\u6cd5\uff0c\u6bd4\u8f03\u5e38\u898b\u7684\u5982\u4e0b\uff1a<\/p>\n<p><strong>\u6295\u5165\u8cc7\u672c = \u6d41\u52d5\u8cc7\u7522 &#8211; \u6d41\u52d5\u8ca0\u50b5 + \u4e0d\u52d5\u7522\u8207\u5ee0\u623f\u8a2d\u5099\u6de8\u984d + \u7121\u5f62\u8cc7\u7522\u53ca\u5546\u8b7d<\/strong><\/p>\n<p>\u6295\u5165\u8cc7\u672c\u4e5f\u6709\u5f88\u591a\u4e0d\u540c\u7684\u7b97\u6cd5\uff0c\u4f46\u5927\u81f4\u4e0a\u7684\u610f\u601d\u5c31\u662f\u516c\u53f8\u628a\u77ed\u671f\u53ef\u80fd\u9700\u7528\u5230(\u4f8b\u5982\uff1a\u62ff\u53bb\u9084\u77ed\u671f\u8ca0\u50b5\u3001\u61c9\u4ed8\u5e33\u6b3e)\u7684\u8cc7\u7522\u6263\u6389\uff0c<br \/>\n\u5269\u4e0b\u7684\u5c31\u662f\u9577\u671f\u80fd\u52d5\u7528\u7684\u8cc7\u7522\uff0c\u4e5f\u5c31\u662f\u4e00\u5bb6\u516c\u53f8\u4fdd\u6301\u71df\u904b\u6240\u9700\u6295\u5165\u7684\u8cc7\u672c\uff0c<br \/>\n\u6295\u5165\u8cc7\u672c\u4ecb\u65bc\u7e3d\u8cc7\u7522\u8207\u7e3d\u80a1\u6771\u6b0a\u76ca\u4e4b\u9593\uff0c\u6982\u5ff5\u4e0a\u8fd1\u4f3c\u65bc\u80a1\u6771\u6b0a\u76ca\u52a0\u4e0a\u9577\u671f\u8ca0\u50b5\u4e26\u6263\u9664\u591a\u9918\u73fe\u91d1\uff0c\u9019\u5169\u7a2e\u90fd\u5c6c\u65bc\u4f01\u696d\u7528\u65bc\u9577\u671f\u898f\u5283\u7684\u8cc7\u672c\u3002<\/p>\n<p>\u5f9e\u8cc7\u7522\u8ca0\u50b5\u8868\u7684\u67b6\u69cb\u4f86\u53ef\u80fd\u770b\u6703\u6bd4\u8f03\u6e05\u695a\uff1a<\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-37248 size-full\" src=/index.html"https:\/\/\/wp-content\/uploads\/20220601110253_55.jpg\" alt=\"ROIC\u6295\u5165\u8cc7\u672c\u89e3\u91cb\" width=\"1557\" height=\"815\" srcset=\"https:\/\/\/wp-content\/uploads\/20220601110253_55.jpg 1557w, https:\/\/\/wp-content\/uploads\/20220601110253_55-1536x804.jpg 1536w\" sizes=\"(max-width: 1557px) 100vw, 1557px\" \/><\/p>\n<p><strong>ROIC\u8d8a\u5927\uff0c\u4ee3\u8868\u516c\u53f8\u6295\u5165\u7684\u8cc7\u672c\u5275\u9020\u8d8a\u591a\u696d\u4e3b\u76c8\u9918<\/strong><\/p>\n<p>\u6240\u4ee5\uff0cROIC\u4e5f\u662f\u6295\u8cc7\u4eba\u8a55\u4f30\u516c\u53f8\u662f\u5426\u6709\u6548\u5229\u7528\u8cc7\u672c\u8cfa\u53d6\u8d85\u984d\u5831\u916c\u7684\u5176\u4e2d\u4e00\u9805\u6307\u6a19\u3002<\/p>\n<blockquote><p>\u5e02\u5834\u5148\u751f\u88dc\u5145\uff1a<br \/>\n\u6c92\u6709\u54ea\u4e00\u7a2eROIC\u7684\u7b97\u6cd5\u6bd4\u8f03\u597d\uff0c\u56e0\u70ba\u4e00\u5207\u90fd\u53ea\u662f\u5728\u4f30\u8a08\uff0c<br \/>\n\u4f46\u5169\u500b\u7b97\u6cd5\u7684\u4fdd\u5b88\u7a0b\u5ea6\u662f\u4e0d\u592a\u4e00\u6a23\u7684\uff0c\u4e0a\u9762\u7b2c\u4e8c\u7a2e\u7b97\u6cd5\u76f8\u5c0d\u7b2c\u4e00\u7a2e\u7b97\u6cd5\u66f4\u4fdd\u5b88\u4e00\u4e9b\uff0c<br \/>\n\u8981\u7528\u54ea\u4e00\u7a2e\u7b97\u6cd5\uff0c\u53d6\u6c7a\u65bc\u6bcf\u500b\u4eba\u60f3\u591a\u4fdd\u5b88\u7684\u4f30\u8a08\u3002<\/p>\n<p>\u4f7f\u7528\u6642\u8a18\u5f97\u6a19\u6e96\u4e00\u81f4\u5c31\u53ef\u4ee5\u3002<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"%E7%82%BA%E4%BB%80%E9%BA%BC%E8%A6%81%E8%A8%88%E7%AE%97ROIC%EF%BC%9F\"><\/span>\u70ba\u4ec0\u9ebc\u8981\u8a08\u7b97ROIC\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>1. \u7528ROIC\u548c\u516c\u53f8\u8cc7\u91d1\u6a5f\u6703\u6210\u672c\u505a\u6bd4\u8f03\u8a55\u4f30\u7372\u5229\u80fd\u529b<\/strong><\/p>\n<p>ROIC\u901a\u5e38\u6703\u62ff\u4f86\u8ddf\u516c\u53f8\u7684<a href=/index.html"https:\/\/\/what-is-wacc-rate\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u52a0\u6b0a\u5e73\u5747\u8cc7\u672c\u6210\u672c(WACC)<\/a>\u505a\u6bd4\u8f03\uff0c\u53bb\u8a55\u4f30\u516c\u53f8\u6295\u5165\u7684\u8cc7\u672c\u662f\u5426\u6709\u5275\u9020\u8d85\u984d\u5831\u916c\u3002<\/p>\n<p>\u539f\u56e0\u662fWACC\u4ee3\u8868\u516c\u53f8\u5411\u9280\u884c\u6216\u662f\u80a1\u6771\u501f\u4f86\u7684\u9322\uff0cWACC\u7b97\u51fa\u4f86\u7684\u91d1\u984d\u53ef\u60f3\u6210\u662f\u5229\u606f\u8cbb\u7528\u6216\u6a5f\u6703\u6210\u672c\u7684\u6982\u5ff5\uff0c<\/p>\n<p>\u5c0dWACC\u4e0d\u719f\u6089\uff0c\u53ef\u5148\u95b1\u8b80\uff1a<a href=/index.html"https:\/\/\/what-is-wacc-rate\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">WACC\u662f\u4ec0\u9ebc\uff1f<\/a><\/p>\n<p>\u7c21\u55ae\u4f86\u8aaa\uff0c\u5982\u679cROIC\u5927\u65bcWACC\uff0c\u5c31\u4ee3\u8868\u516c\u53f8\u6295\u5165\u8cc7\u672c\u5f8c\u6240\u7372\u5f97\u7684\u5831\u916c\u5927\u65bc\u516c\u53f8\u56e0\u501f\u9322\u53bb\u6295\u5165\u6240\u7522\u751f\u7684\u6210\u672c<br \/>\n(\u4f8b\u5982\uff1a\u8ddf\u9280\u884c\u501f\u9322\u53bb\u958b\u9910\u5ef3\uff0c\u6bcf\u500b\u6708\u9910\u5ef3\u6240\u8cfa\u7684\u9322\u5927\u65bc\u8981\u9084\u9280\u884c\u7684\u5229\u606f\u8cbb\u7528)\uff0c<br \/>\n\u4e5f\u5c31\u662f\u516c\u53f8\u6709\u5229\u7528\u6295\u5165\u7684\u8cc7\u672c\u5275\u9020\u8d85\u984d\u5831\u916c\u3002<\/p>\n<p>\u8209\u4f8b\u4f86\u8aaa\uff0c\u5047\u8a2d\u4e00\u9593\u516c\u53f8\u8ddf\u9280\u884c\u501f100\u5143(\u5148\u5047\u8a2d\u80a1\u6771\u6c92\u51fa\u9322)\uff0c\u5229\u606f\u662f5%\uff0cWACC=5%\uff0c\u6bcf\u5e74\u5c31\u8981\u9084\u9280\u884c5\u5143\uff0c<br \/>\n\u90a3ROIC\u81f3\u5c11\u8981\u8d85\u904e5%\uff0c\u9019\u6a23\u624d\u53ef\u80fd\u6703\u6709\u8d85\u984d\u5831\u916c\uff0c\u4e0d\u7136\u6bcf\u5e74\u8cfa5\u5143\u99ac\u4e0a\u53c8\u8981\u9084\u9280\u884c5\u5143\uff0c\u7b49\u65bc\u5b8c\u5168\u6c92\u6709\u8cfa\u9322\u3002<\/p>\n<p>\u6240\u4ee5\uff0c\u6211\u5011\u53ef\u4ee5\u5c07ROIC\u8207WACC\u4e4b\u9593\u7684\u95dc\u4fc2\u505a\u4e00\u500b\u6bd4\u8f03\uff1a<\/p>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%; text-align: center;\" colspan=\"2\">ROIC\u8207WACC\u6bd4\u8f03<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 16.7031%; text-align: center;\">ROIC &gt; WACC<\/td>\n<td style=\"width: 83.2969%;\">\u516c\u53f8\u6295\u5165\u8cc7\u672c\u7684\u5831\u916c&gt;\u6295\u5165\u7684\u8cc7\u672c\u6210\u672c\uff0c \u6709\u5275\u9020\u8d85\u984d\u5831\u916c<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 16.7031%; text-align: center;\">ROIC = WACC<\/td>\n<td style=\"width: 83.2969%;\">\u516c\u53f8\u6295\u5165\u8cc7\u672c\u7684\u5831\u916c = \u6295\u5165\u7684\u8cc7\u672c\u6210\u672c\uff0c\u6c92\u6709\u5275\u9020\u8d85\u984d\u5831\u916c<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 16.7031%; text-align: center;\">ROIC &lt; WACC<\/td>\n<td style=\"width: 83.2969%;\">\u516c\u53f8\u6295\u5165\u8cc7\u672c\u7684\u5831\u916c &lt; \u6295\u5165\u7684\u8cc7\u672c\u6210\u672c\uff0c\u4e0d\u4f46\u6c92\u6709\u5275\u9020\u8d85\u984d\u5831\u916c\uff0c\u9084\u7834\u58de\u516c\u53f8\u672c\u8eab\u7684\u50f9\u503c(\u7834\u58de\u516c\u53f8\u672c\u8eab\u7684\u50f9\u503c\u9019\u4e00\u9ede\u8ddf\u8a08\u7b97\u73fe\u503c\u6709\u95dc\uff0c\u6bd4\u8f03\u8907\u96dc\u4e00\u4e9b\uff0c\u5148\u77e5\u9053\u6982\u5ff5\u5373\u53ef)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 100%; text-align: right;\" colspan=\"2\">\u8cc7\u6599\u6574\u7406\uff1aMr.Market \u5e02\u5834\u5148\u751f<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<blockquote><p>\u5e02\u5834\u5148\u751f\u88dc\u5145\uff1a<br \/>\n\u7121\u8ad6\u662fWACC\u6216ROIC\uff0c\u90fd\u662f\u9810\u4f30\u7684\u8a08\u7b97\u4ee5\u53ca\u53c3\u8003\uff0c<br \/>\n\u800c\u4e14\u5169\u8005\u90fd\u6709\u5f88\u591a\u7a2e\u7b97\u6cd5\uff0c\u6240\u4ee5\u4e0d\u80fd\u53ea\u770bROIC\u8207WACC\u7684\u6bd4\u8f03\u5c31\u6c7a\u5b9a\u4e00\u9593\u516c\u53f8\u662f\u5426\u6709\u5275\u9020\u8d85\u984d\u5831\u916c\uff0c<br \/>\n\u60f3\u66f4\u4e86\u89e3\u4e00\u9593\u516c\u53f8\uff0c\u9084\u9700\u8981\u505a\u66f4\u6df1\u5165\u7684\u7814\u7a76\u3002<\/p>\n<p>\u53e6\u5916\u7b97\u51fa\u4f86\u7684\u6578\u5b57\u90fd\u53ea\u662f\u4f30\u8a08\u7684\u6982\u5ff5\uff0c\u5fc5\u5b9a\u5b58\u5728\u8aa4\u5dee\uff0c\u6240\u4ee5\u6bd4\u8f03\u6642\u61c9\u8a72\u53ea\u95dc\u6ce8\u662f\u5426\u6709\u986f\u8457\u7684\u5dee\u7570\u3002<\/p><\/blockquote>\n<p><strong>2. \u7528ROIC\u4f86\u9810\u4f30\u516c\u53f8\u672a\u4f86\u76c8\u9918\u6210\u9577\u7387<\/strong><\/p>\n<p>\u8a55\u4f30<a href=/index.html"https:\/\/\/what-is-eps\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">EPS<\/a>\u6210\u9577\u7387\u6709\u5f88\u591a\u7a2e\u65b9\u5f0f\uff0c\u5176\u4e2d\u4e00\u500b\u7b97\u6cd5\u5c31\u6703\u7528\u5230ROIC\u3002<\/p>\n<p>\u4e00\u9593\u516c\u53f8\u7684\u6709\u6a5f\u6210\u9577\uff0c\u5c31\u662f\u904b\u7528\u516c\u53f8\u8cfa\u5230\u7684\u9322\uff0c\u6263\u9664\u767c\u653e\u80a1\u5229\u5f8c\uff0c\u5269\u9918\u90e8\u5206\u518d\u6295\u8cc7\u5275\u9020\u5831\u916c\uff0c<br \/>\n\u5176\u4e2d\uff0c\u518d\u6295\u8cc7\u5275\u9020\u5831\u916c\u7684\u5831\u916c\u7387\uff0c\u5c31\u53ef\u4ee5\u7528ROIC\u4f86\u505a\u8a55\u4f30\u3002<\/p>\n<blockquote><p><strong>\u516c\u53f8\u9810\u671fEPS\u6210\u9577\u7387 = \u518d\u6295\u8cc7\u6bd4\u7387(Reinvestment rate)\u00a0\u00d7 ROIC<\/strong><\/p>\n<p>\u5176\u4e2d\uff0c\u518d\u6295\u8cc7\u6bd4\u7387\u5c31\u662f\u6709\u591a\u5c11\u76c8\u9918\u662f\u6c92\u767c\u653e\u80a1\u5229\u7684\u90e8\u5206\u3002<\/p>\n<p>\u518d\u6295\u8cc7\u6bd4\u7387(Reinvestment rate)=1 &#8211; <a href=/index.html"https:\/\/\/what-payout-ratio\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u80a1\u5229\u767c\u653e\u7387(\u5c31\u662f\u914d\u606f\u7387)<\/a><\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"ROIC%E7%9A%84%E5%84%AA%E9%BB%9E%E5%8F%8A%E9%99%90%E5%88%B6\"><\/span>ROIC\u7684\u512a\u9ede\u53ca\u9650\u5236<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3>ROIC\u53ef\u8996\u70baROA\u8207ROE\u7684\u9032\u5316\u7248<\/h3>\n<p>\u6709\u4e9b\u4eba\u6703\u628aROIC\u89e3\u8b80\u6210<a href=/index.html"https:\/\/\/what-is-roa\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u8cc7\u7522\u5831\u916c\u7387(ROA)<\/a>\u53ca<a href=/index.html"https:\/\/\/what-is-roe\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387(ROE)<\/a>\u7684\u512a\u5316\u7248\uff1a<\/p>\n<ul>\n<li><strong>\u6295\u5165\u8cc7\u672c\u5831\u916c\u7387(ROIC) = <\/strong><strong>EBIT \u00d7 (1 \u2013 \u7a05\u7387)\u00f7\u6295\u5165\u8cc7\u672c<\/strong><\/li>\n<li><strong>\u8cc7\u7522\u5831\u916c\u7387(ROA)=<\/strong>\u00a0\u7a05\u5f8c\u6de8\u5229 \u00f7 \u5e73\u5747\u7e3d\u8cc7\u7522 \u00d7 100%<\/li>\n<li><strong>\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387(ROE) =<\/strong>\u00a0\u7a05\u5f8c\u6de8\u5229 \u00f7 \u80a1\u6771\u6b0a\u76ca \u00d7 100%<\/li>\n<\/ul>\n<p>\u4ee5ROA\u4f86\u770b\uff0cROA\u662f\u4ee5\u7e3d\u8cc7\u7522\u70ba\u5206\u6bcd\u53bb\u770b\u516c\u53f8\u80fd\u7522\u751f\u7684\u5831\u916c\uff0c<br \/>\n\u9019\u6703\u6709\u500b\u554f\u984c\u662f\uff0c\u5982\u679c\u662f\u77ed\u671f\u8ca0\u50b5\u9f90\u5927\u7684\u4f01\u696d (\u4f8b\u5982\u56e0\u70ba\u71df\u904b\u5468\u8f49\u9700\u6c42\uff0c\u7522\u751f\u9f90\u5927\u7684\u61c9\u4ed8\u5e33\u6b3e\u3001\u77ed\u671f\u8ca0\u50b5\u7b49\u7b49)\uff0c<br \/>\n\u9019\u6703\u5c0e\u81f4ROA\u5728\u8a55\u4f30\u7d50\u679c\u7522\u751f\u8aa4\u5dee\u3002<\/p>\n<p>ROIC\u7684\u5206\u6bcd\u5247\u662f\u5c07\u6d41\u52d5\u8ca0\u50b5\u6263\u9664\uff0c<br \/>\n\u53ea\u4fdd\u7559\u9577\u671f\u71df\u904b\u7684\u8cc7\u672c\u6295\u5165(\u80a1\u6771\u6b0a\u76ca+\u9577\u671f\u8ca0\u50b5)\uff0c\u4e0d\u8003\u616e\u77ed\u671f\u8ca0\u50b5(\u4f8b\u5982\u61c9\u6536\u5e33\u6b3e\u3001\u77ed\u671f\u8ca0\u50b5)\uff0c<br \/>\n\u4e14ROIC\u7684\u5206\u5b50\u6392\u9664\u6389\u696d\u5916\u6536\u652f\u7684\u5f71\u97ff\uff0c<\/p>\n<p><strong>\u6240\u4ee5\u6574\u9ad4\u4f86\u8aaaROIC\u6703\u6bd4ROA\u66f4\u56b4\u8b39\u4e00\u4e9b\u3002<\/strong><\/p>\n<p>\u4ee5ROE\u4f86\u770b\uff0c\u56e0\u70baROE\u7684\u5206\u6bcd\u662f\u80a1\u6771\u6b0a\u76ca\uff0c\u6c92\u7b97\u5230\u8ca0\u50b5\uff0c<br \/>\n\u5982\u679c\u4f01\u696d\u9760\u589e\u52a0\u50b5\u52d9\u69d3\u687f\u4f86\u64f4\u5927\u7372\u5229\uff0c\u9019\u7a2e\u8209\u50b5\u884c\u70ba\u4e26\u4e0d\u6703\u5c0d\u80a1\u6771\u6b0a\u76ca\u9020\u6210\u5f71\u97ff\uff0c\u6240\u4ee5ROE\u5c31\u6703\u8b8a\u9ad8\uff0c<\/p>\n<p>\u4f46ROIC\u7684\u5206\u6bcd\u662f\u6295\u5165\u8cc7\u672c\uff0c\u5728\u8a08\u7b97\u6642\u6703\u8003\u616e\u9577\u671f\u8ca0\u50b5\uff0c<br \/>\n\u5c31\u53ef\u4ee5\u907f\u514d\u4f01\u696d\u9ad8\u5ea6\u69d3\u687f\u800c\u885d\u9ad8\u6578\u5b57\u7684\u7d50\u679c\u3002<\/p>\n<p>\u53e6\u5916\uff0c\u76f8\u6bd4ROA\u53caROE\u7684\u5206\u5b50\u662f\u7a05\u5f8c\u6de8\u5229\uff0cROIC\u7684\u5206\u5b50\u662f\u7a05\u5f8c\u71df\u696d\u6536\u5165\u6216\u7a05\u5f8c\u71df\u696d\u5229\u6f64(EBIT\u4e5f\u5c31\u662f\u9084\u6c92\u6263\u9664\u5229\u606f\u53ca\u7a05\u7684\u8cbb\u7528)\uff0c<br \/>\n\u80fd\u907f\u514d\u4f01\u696d\u56e0\u70ba\u501f\u9322(\u8ddf\u9280\u884c\u501f\u6216\u662f\u8ddf\u80a1\u6771\u501f)\u7522\u751f\u5229\u606f\u8cbb\u7528\u800c\u5f71\u97ff\u5230\u8a08\u7b97\u7684\u7d50\u679c\uff0c\u66f4\u80fd\u770b\u51fa\u4f01\u696d\u672c\u8eab\u7684\u71df\u696d\u7372\u5229\u80fd\u529b\u3002<\/p>\n<blockquote><p><strong>\u5e02\u5834\u5148\u751f\u5c0f\u7d50\uff1a\u6574\u9ad4\u4f86\u770b\uff0cROIC\u6703\u6bd4ROE\u3001ROA\uff0c\u8003\u616e\u7684\u66f4\u52a0\u5168\u9762\u3002<\/strong><\/p><\/blockquote>\n<h3>ROIC\u4e0d\u9069\u7528\u666f\u6c23\u5faa\u74b0\u7279\u6027\u7684\u516c\u53f8<\/h3>\n<p>\u822a\u904b\u3001\b\u71df\u5efa\u3001\u539f\u7269\u6599\u6027\u8cea\u516c\u53f8\u7684ROIC\u53ef\u80fd\u6703\u6709\u5927\u5e45\u7684\u6ce2\u52d5\uff0c<br \/>\n\u50cf\u662f\u6ce2\u97f3\u516c\u53f8(\u80a1\u7968\u4ee3\u865f\uff1aBA)\u7684ROIC\u57282019\u5e74\u53ca2020\u5e74\u5c31\u662f\u8ca0\u7684\uff0c\u56e0\u70ba\u9019\u5169\u5e74\u7684\u71df\u696d\u6536\u5165\u90fd\u662f\u8ca0\u6578\uff1a<\/p>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%; text-align: center;\" colspan=\"5\">\u6ce2\u97f3\u516c\u53f8\u8fd15\u5e74\u7684ROIC<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 20%; text-align: center;\">2016\u5e74<\/td>\n<td style=\"width: 20%; text-align: center;\">2017\u5e74<\/td>\n<td style=\"width: 20%; text-align: center;\">2018\u5e74<\/td>\n<td style=\"width: 20%; text-align: center;\">2019\u5e74<\/td>\n<td style=\"width: 20%; text-align: center;\">2020\u5e74<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 20%; text-align: center;\" headers=\"pr-pro-Y5 pr-profit i27\" align=\"right\">38.13<\/td>\n<td style=\"width: 20%; text-align: center;\">76.30<\/td>\n<td style=\"width: 20%; text-align: center;\" headers=\"pr-pro-Y7 pr-profit i27\" align=\"right\">84.82<\/td>\n<td style=\"width: 20%; text-align: center;\">\u00a0&#8211;<\/td>\n<td style=\"width: 20%; text-align: center;\">\u00a0&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 100%; text-align: right;\" colspan=\"5\">\u8cc7\u6599\u4f86\u6e90\uff1aMorining star\u00a0 \u00a0\u8cc7\u6599\u6574\u7406\uff1aMr.Market \u5e02\u5834\u5148\u751f<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u9019\u6642\u5c31\u53ef\u4ee5\u518d\u7d30\u770b\u8ca1\u52d9\u5831\u8868\u53bb\u63a2\u7a76\u539f\u56e0\uff0c<br \/>\n\u6240\u4ee5\uff0c\u6709\u666f\u6c23\u5faa\u74b0\u7279\u6027\u7684\u516c\u53f8\u77ed\u671f\u7684ROIC\u6578\u64da\u53ef\u80fd\u5dee\u7570\u6703\u6bd4\u8f03\u5927\uff0c<br \/>\n\u9084\u662f\u9700\u770b\u9577\u671f\u6578\u64da\u624d\u6bd4\u8f03\u4e0d\u5bb9\u6613\u6709\u8aa4\u5224\u7684\u72c0\u6cc1\u3002<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E5%A6%82%E4%BD%95%E6%9F%A5%E8%A9%A2%E5%85%AC%E5%8F%B8%E7%9A%84ROIC%EF%BC%9F\"><\/span>\u5982\u4f55\u67e5\u8a62\u516c\u53f8\u7684ROIC\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>ROIC\u5728\u7f8e\u80a1\u6bd4\u8f03\u5e38\u898b\uff0c\u8981\u67e5\u8a62\u53ef\u81f3<a href=/index.html"https:\/\/www.gurufocus.com\/term\/ROIC\/aapl\/ROIC-Percentage\/Apple\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\">\uff27urufocus(\u4ee5Apple\u70ba\u4f8b\uff0c\u67e5\u8a62ROIC %\u6b04\u4f4d)<\/a>\u3002<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ROIC%E6%8A%95%E5%85%A5%E8%B3%87%E6%9C%AC%E5%A0%B1%E9%85%AC%E5%BF%AB%E9%80%9F%E9%87%8D%E9%BB%9E%E6%95%B4%E7%90%86\"><\/span>ROIC\u6295\u5165\u8cc7\u672c\u5831\u916c\u5feb\u901f\u91cd\u9ede\u6574\u7406<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>ROIC\u6295\u5165\u8cc7\u672c\u5831\u916c\u662f\u8861\u91cf\u516c\u53f8\u6295\u5165\u8cc7\u672c\u5f8c\u662f\u5426\u5275\u9020\u5831\u916c\u7684\u6307\u6a19<\/li>\n<li>ROIC\u901a\u5e38\u6703\u8207WACC\u505a\u6bd4\u8f03\uff0c\u5982\u679cROIC\u5927\u65bcWACC\u4ee3\u8868\u516c\u53f8\u6295\u5165\u8cc7\u672c\u5f8c\u6709\u5275\u9020\u8d85\u984d\u5831\u916c<\/li>\n<li>ROIC\u6709\u9ede\u50cf\u662fROA\u8207ROE\u7684\u9032\u5316\u7248\uff0c\u4f46\u9084\u662f\u4e0d\u53ef\u53ea\u770bROIC\u5c31\u6c7a\u5b9a\u516c\u53f8\u7684\u597d\u58de\u3002<\/li>\n<\/ol>\n<p>\u66f4\u591a\u8ca1\u52d9\u6307\u6a19\u5206\u6790\uff1a<\/p>\n<p>1. <a href=/index.html"https:\/\/\/what-is-roe\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">ROE\u662f\u4ec0\u9ebc\uff1f<\/a><\/p>\n<p>2. <a href=/index.html"https:\/\/\/what-is-roa\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">ROA\u662f\u4ec0\u9ebc\uff1f<\/a><\/p>\n<p>3. <a href=/index.html"https:\/\/\/what-is-eps\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">EPS\u662f\u4ec0\u9ebc\uff1f<\/a><\/p>\n<p>4. <a href=/index.html"https:\/\/\/how-learn-financial-report\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u8ca1\u5831\u5206\u6790\u57fa\u790e\u5165\u9580<\/a><\/p>\n<p>5. <a href=/index.html"https:\/\/\/read-financial-statements\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u4e09\u5927\u5831\u8868\u600e\u9ebc\u770b\uff1f<\/a><\/p>\n\n<p>\u5ef6\u4f38\u95b1\u8b80\uff1a<\/p>\n<p>1. <a href=/index.html"https:\/\/\/pe-ratio-basic\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u4e00\u5206\u9418\u770b\u61c2\u751a\u9ebc\u662f\u672c\u76ca\u6bd4\uff1f<\/a><\/p>\n<p>2. <a href=/index.html"https:\/\/\/etf0050\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u4e00\u5206\u9418\u770b\u61c2\u751a\u9ebc\u662fETF\uff1f<\/a><\/p>\n<p>3. <a href=/index.html"https:\/\/\/jisun-account-588\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u80a1\u7968\u958b\u6236\u300b\u6700\u65b0\u8b80\u8005\u512a\u60e0\u5206\u4eab<\/a><\/p>\n<p>4. <a href=/index.html"https:\/\/\/fund-cnyes-mrmarket\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u57fa\u91d1\u958b\u6236\u300b\u624b\u7e8c\u8cbb0\u5143\u512a\u60e0\u5206\u4eab<\/a><\/p>\n<p>5. <a href=/index.html"https:\/\/\/blog-page\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u5206\u4eab\u8d85\u904e100\u7bc7\u6295\u8cc7\u7406\u8ca1\u5165\u9580\u6587\u7ae0<\/a><\/p>\n<p>6. <a href=/index.html"https:\/\/\/blog-page_30\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u5206\u4eab\u6211\u7684\u6295\u8cc7\u66f8\u55ae<\/a><\/p>\n<h3>\u52a0\u5165\u5e02\u5834\u5148\u751fFB\u793e\u5718\uff0c\u5145\u5be6\u66f4\u591a\u7406\u8ca1\u597d\u77e5\u8b58<\/h3>\r\n<p>50\u6b72\u4e4b\u524d\u60f3\u9000\u4f11\u4e00\u5b9a\u8981\u61c2\u7406\u8ca1\uff0c<br \/>\u89e3\u6c7a\u6295\u8cc7\u7684\u7169\u60f1\uff01<\/p>\r\n<p><a href=/index.html"https:\/\/www.facebook.com\/groups\/rich01\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\"><img decoding=\"async\" class=\"alignnone size-full wp-image-7104\" src=/index.html"https:\/\/\/wp-content\/uploads\/20190824194719_22.gif\" alt=\"\" width=\"687\" height=\"243\" \/><\/a><\/p>\n<p><br \/><strong><span style=\"color: #ff0000;\">\u5982\u679c\u89ba\u5f97\u9019\u7bc7\u6587\u7ae0\u6709\u5e6b\u52a9\uff0c<\/span><\/strong><br \/><strong><span style=\"color: #ff0000;\">\u5e6b\u6211\u6309\u500b\u8b9a\uff0c\u5206\u4eab\u7d66\u66f4\u591a\u4eba\u770b\u5230\uff0c\u8b1d\u8b1d\uff01<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4f01\u696d\u70ba\u4e86\u5275\u9020\u73fe\u91d1\u6d41\u91cf\u6703\u6295\u5165\u8cc7\u672c\uff0c \u800c\u6295\u5165\u8cc7\u672c\u5f8c\u6240\u7372\u5f97\u7684\u5831\u916c\uff0c\u5c31\u662f \u6295\u5165\u8cc7\u672c\u5831\u916c\u7387(ROIC)\u3002 \u672c\u7bc7\u5e02\u5834\u5148\u751f\u5c07 [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[160],"tags":[39],"table_tags":[],"modified_by":"eden","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[{"id":32939,"url":"https:\/\/\/what-is-roce\/","url_meta":{"origin":26114,"position":0},"title":"ROCE\u8cc7\u672c\u904b\u7528\u5831\u916c\u7387\u662f\u4ec0\u9ebc\uff1f\u516c\u5f0f\u600e\u9ebc\u8a08\u7b97\uff1f","author":"Mr.Market\u5e02\u5834\u5148\u751f","date":"2022-06-22","format":false,"excerpt":"\u8861\u91cf\u4e00\u5bb6\u516c\u53f8\u7684\u5831\u916c\u7387\uff0c\u5e38\u4f7f\u7528\u7684\u70ba\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387ROE\u3001\u8cc7\u7522\u5831\u916c\u7387ROA\u3001\u6295\u5165\u8cc7\u672c\u5831\u916c\u7387ROIC\uff0c \u53e6\u2026","rel":"","context":"\u5728\u300c\u57fa\u672c\u5206\u6790\u300d\u4e2d","block_context":{"text":"\u57fa\u672c\u5206\u6790","link":"https:\/\/\/category\/invest-master\/basic-analysis\/"},"img":{"alt_text":"ROCE\u8cc7\u672c\u904b\u7528\u5831\u916c\u7387","src":"https:\/\/i0.wp.com\/\/wp-content\/uploads\/20220531110832_84.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/\/wp-content\/uploads\/20220531110832_84.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/\/wp-content\/uploads\/20220531110832_84.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/\/wp-content\/uploads\/20220531110832_84.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/\/wp-content\/uploads\/20220531110832_84.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/\/wp-content\/uploads\/20220531110832_84.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":8597,"url":"https:\/\/\/what-free-cash-flow\/","url_meta":{"origin":26114,"position":1},"title":"\u81ea\u7531\u73fe\u91d1\u6d41\u91cf\u662f\u4ec0\u9ebc\uff1f\u81ea\u7531\u73fe\u91d1\u6d41\u91cf\u516c\u5f0f\uff1f\u5982\u4f55\u7528\u4f86\u5206\u6790\u8a55\u4f30\u4f01\u696d\u98a8\u96aa\uff1f","author":"Mr.Market\u5e02\u5834\u5148\u751f","date":"2020-03-30","format":false,"excerpt":"\u4eca\u5929\u5e02\u5834\u5148\u751f\u8981\u548c\u5927\u5bb6\u4ecb\u7d39\u4ec0\u9ebc\u662f\u300c\u81ea\u7531\u73fe\u91d1\u6d41\u91cf\u300d\uff0c \u81ea\u7531\u73fe\u91d1\u6d41\u91cf 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4x"},"classes":[]},{"id":24257,"url":"https:\/\/\/what-is-ebitda-0\/","url_meta":{"origin":26114,"position":2},"title":"EBITDA\u7a05\u524d\u606f\u524d\u6298\u820a\u6524\u92b7\u524d\u7372\u5229 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