ROE成长跨越规律 由于企业存在周期性，因此没有任何一家公司的ROE可以连续每年保持上涨不波动、不发生阶段性下跌，但必然有许多企业在快速成长或行业景气周期中收获ROE上升，从而给投资者带来高额的投资回报。 可以找到A股历史上，发生过ROE上升的公司及其相对应的历史阶段，并从这些公司身上，通过归纳法找到ROE可以成长的“答案”。 企业在不同发展阶段，应使用不同的标准精选，天宇股份、迈克生物、北新建材昨日涨幅15.51%、15.04%、10.00%。 证券名称净资产收益率ROE(%)毛利率分位数(%)期间费用率(%)总资产周转率上日涨幅(%)近1月累计涨幅(%)市值(亿元)天宇股份
30070223.7884.1924.110.6715.517.35132.20迈克生物
30046327.6389.1024.500.6515.04-2.20222.73北新建材
00078621.8863.4612.570.8110.00-0.14622.58维力医疗
60330915.3378.9324.640.799.9816.3941.55桃李面包
60386620.1452.8610.661.088.85-0.33290.33赛意信息
30068720.0364.2521.020.828.5037.59112.22东方雨虹
00227127.7868.3817.530.867.096.851436.16海大集团
00231123.5910.805.632.326.59-14.331122.45久立特材
00231821.3450.6611.770.866.482.44118.82山东赫达
00281028.7270.9113.140.846.4323.50176.87艾迪精密
60363827.4773.5412.260.776.09-0.37337.04昌红科技
30015119.4869.6917.320.945.80-11.99119.19鱼跃医疗
00222326.3587.0523.780.705.73-4.53368.01三鑫医疗
30045318.7958.6914.350.845.31-18.5150.83伟星新材
00237231.2978.4018.391.064.65-0.34322.40中石科技
30068416.2959.2713.940.664.54-3.4856.92晨光文具
60389928.3742.9713.851.714.45-8.46726.80石大胜华
60302627.2432.948.501.634.3224.86445.84信捷电气
60341627.0977.9114.020.614.2432.43108.13香飘飘
60371117.4166.7823.150.924.22-5.4164.80德赛西威
00292015.6541.1214.471.104.171.07617.65普洛药业
00073921.2951.4417.301.054.165.97345.31宝信软件
60084520.8254.4513.660.724.0822.841074.02南卫股份
60388015.3162.4620.371.023.953.3721.57苏博特
60391616.2070.7820.910.663.651.3283.64森霸传感
30070126.3289.7211.700.513.57-7.1937.62普利特
00232415.9632.3410.021.093.544.54121.48罗莱生活
00229316.9778.0425.090.943.31-12.0998.03巨星科技
00244417.1455.5215.300.693.291.95359.04九洲药业
60345615.0866.3918.800.603.287.17401.32欧普照明
60351519.0870.9926.461.083.240.80194.79恒立液压
60110041.6679.319.420.903.2030.181448.69绝味食品
60351718.5264.6611.550.983.06-9.31452.56豪迈科技
00259519.3656.288.310.812.9611.12233.52安井食品
60334521.0744.1713.801.152.82-16.37437.28双汇发展
00089530.3324.435.762.152.80-12.76940.66长亮科技
30034823.0985.5629.610.802.79-9.63111.76扬农化工
60048621.1843.1411.890.912.7924.03430.02洽洽食品
00255722.1660.4014.570.902.74-6.05203.21华贸物流
60312815.0612.226.322.222.61-2.17175.08浙江鼎力
60333819.9662.109.780.592.4611.02307.31国恩股份
00276825.7028.416.041.382.390.6266.19凯莱英
00282116.8681.2122.210.542.3622.611009.76通策医疗
60076333.6383.6213.020.812.36-17.001068.79索菲亚
00257223.6667.3218.480.932.11-16.61181.38宝莱特
30024641.8980.6717.350.962.09-4.8625.74德邦股份
60305615.6213.0810.402.862.08-1.55105.78汉宇集团
30040317.8870.6915.140.511.98-4.1440.46君禾股份
60361716.4241.5611.400.641.932.8321.04晨化股份
30061018.4450.9713.230.891.934.0929.25大元泵业
60375718.5655.6613.450.961.933.4235.44苏泊尔
00203230.4248.2815.441.731.91-12.19444.45麦克奥迪
30034115.5278.1325.080.771.8425.3053.57中顺洁柔
00251121.3575.0225.221.151.82-19.77271.05欣龙控股
00095518.3070.8212.560.931.61-2.7027.14佳电股份
00092217.1855.2216.860.571.564.8342.90铁流股份
60392616.1148.5113.030.771.553.4825.25塔牌集团
00223317.8368.127.330.621.53-3.30118.87山河药辅
30045218.1055.1411.280.661.50-4.6926.78片仔癀
60043624.0381.0815.200.671.41-17.202280.96银都股份
60327716.2176.4522.210.611.39-3.8685.81美亚光电
00269022.8386.5322.390.631.35-3.41338.95宏发股份
60088517.5767.8120.730.801.3211.04490.50安车检测
30057219.7979.1123.530.551.21-19.7757.25利安隆
30059615.5748.4012.960.741.14-10.3176.69伯特利
60359619.5245.578.290.721.1226.77176.83海天味业
60328836.7475.857.850.901.10-1.715016.34周大生
00286722.9775.4513.530.880.95-0.88209.16飞亚达
00002615.7470.0326.291.240.89-11.3454.12皮阿诺
00285316.4762.4614.390.620.88-14.9734.04海螺水泥
60058524.0750.834.000.960.82-2.492076.27伟星股份
00200317.1072.4824.880.770.827.5657.41锋龙股份
00293116.3163.7715.310.650.77-9.6523.49上峰水泥
00067233.3784.409.820.630.760.06140.11坚朗五金
00279123.9472.6722.381.140.708.83707.39集泰股份
00290918.5452.4017.841.010.65-5.3323.26信维通信
30013615.1344.2214.690.660.64-15.95259.60大连电瓷
00260617.2070.8717.030.680.59-2.5530.20景旺电子
60322815.7249.7613.850.670.5121.42266.46诺邦股份
60323825.8962.6511.490.990.51-8.4324.52马应龙
60099315.5972.1124.990.870.46-7.64112.29宁夏建材
60044916.5159.515.520.650.46-2.8552.22龙大肉食
00272633.865.602.242.990.43-9.2992.96金达威
00262632.3287.5719.450.720.42-16.67219.47老凤祥
60061224.216.762.662.760.40-9.65248.95安琪酵母
60029825.6755.4713.520.890.36-8.80399.77弘亚数控
00283326.1062.739.890.850.34-11.0198.24思源电气
00202819.6453.2312.690.810.32-5.18216.75元隆雅图
00287822.5934.9111.701.570.31-9.3935.47祁连山
60072019.9265.759.660.700.29-1.8980.50龙马环卫
60368617.9646.7214.261.090.28-4.7659.11盈趣科技
00292525.2259.7111.350.890.255.03313.29双箭股份
00238117.1153.1610.190.740.25-0.8633.13泰和新材
00225418.5357.159.610.540.243.55143.72电能股份
60087721.4376.3918.510.700.22-12.36110.17金禾实业
00259716.7248.617.730.580.20-11.75166.03工业富联
60113819.697.303.812.070.17-0.822350.28万盛股份
60301040.1068.2213.361.220.16-8.6392.98大北农
00238517.8931.1511.511.120.1215.56347.45上海物贸
60082217.863.443.633.300.12-6.5942.21鲁阳节能
00208819.5168.2916.260.810.093.8882.25青松股份
30013215.3943.6710.900.880.07-21.2479.09恒润股份
60398541.2058.967.971.080.059.4448.52东方电缆
60360638.9956.708.510.980.0424.62161.24康力电梯
00236718.4957.5817.580.770.00-6.6864.61湖南海利
60073121.2055.5712.190.730.00-3.8835.42裕同科技
00283116.1447.2315.610.81-0.04-3.38257.75万年青
00078927.3146.495.460.93-0.09-5.1987.39国检集团
60306019.5981.7325.690.73-0.112.65107.64永新股份
00201416.3135.559.901.01-0.13-10.4839.53天山股份
00087716.2168.409.040.60-0.16-7.55134.76唐人神
00256722.5015.606.481.90-0.17-8.3372.96永高股份
00264120.3943.2712.181.03-0.17-11.6173.38嘉友国际
60387119.6923.182.921.04-0.181.3646.92海顺新材
30050116.0364.2817.910.57-0.24-2.0326.48三全食品
00221625.2648.8915.751.21-0.38-12.66139.53浙江美大
00267741.0887.2316.621.01-0.39-15.8998.85广州酒家
60304321.5673.1321.080.95-0.45-14.43125.79晨光生物
30013815.0520.377.490.93-0.49-11.8375.07微光股份
00280117.2156.509.150.64-0.54-4.7859.41玲珑轮胎
60196617.4947.8713.560.69-0.58-3.69540.75宁波富达
60072416.5565.148.330.60-0.60-2.3647.84再升科技
60360121.6667.8812.370.74-0.6412.4689.78伊力特
60019715.5286.428.580.50-0.65-15.29116.05漫步者
00235115.5962.0015.860.88-0.69-2.48115.58三花智控
00205016.6554.9816.610.79-0.77-5.64786.56凌霄泵业
00288419.8359.786.000.76-0.77-8.9768.56广弘控股
00052916.5431.049.340.98-0.78-5.3829.77蓝思科技
30043317.8849.6613.170.64-0.82-11.721256.80环旭电子
60123116.5210.056.331.81-0.82-12.17318.85濮阳惠成
30048120.5060.8610.790.97-0.888.8269.72国睿科技
60056215.7641.158.060.55-0.93-5.02171.13好太太
60384819.0282.8923.010.64-1.016.7751.21安徽合力
60076116.0124.769.701.50-1.03-2.1378.24东宏股份
60385617.7446.499.270.93-1.0810.0330.86阳光照明
60026115.2463.0722.180.77-1.09-6.4452.71中炬高新
60087219.8075.9220.390.80-1.11-13.30304.71生益科技
60018320.1047.8711.270.86-1.1725.44660.81克来机电
60396015.0158.8212.070.62-1.19-3.1184.65顺络电子
00213816.0468.4814.400.55-1.192.05320.35科锐国际
30066220.7914.876.672.32-1.23-6.5698.69海康威视
00241530.3281.0324.130.86-1.29-1.195642.56嘉化能源
60027318.7663.285.930.64-1.308.56130.81海利尔
60363918.2654.5215.090.88-1.35-9.3554.74巨星农牧
60347719.5461.679.690.58-1.43-8.5852.28恒通股份
60322317.645.652.383.43-1.494.3687.86中电电机
60398816.4556.2215.850.68-1.55-1.0037.40亚普股份
60301316.6222.097.691.43-1.580.4567.21飞科电器
60386824.5177.2118.731.02-1.64-9.40162.00横店东磁
00205621.1242.2411.630.92-1.6611.00241.24硅宝科技
30001922.7857.9216.440.91-1.6719.0880.57禾丰股份
60360919.317.493.902.23-1.69-9.7185.74圣邦股份
30066125.4683.5725.950.78-1.7341.68798.14洪汇新材
00280216.5649.459.640.95-1.75-15.3526.10华鲁恒升
60042619.7447.333.310.75-1.781.81677.11沪电股份
00246323.5754.939.780.81-1.891.65256.45星宇股份
60179924.1650.619.120.79-1.914.01618.84方大特钢
60050730.0838.183.281.17-1.925.61154.15国电南瑞
60040615.6547.6211.040.63-2.0330.071741.38视源股份
00284132.2145.9914.071.40-2.07-8.50724.88双一科技
30069024.4066.0610.200.86-2.10-0.6240.28欧派家居
60383322.9465.5218.160.89-2.100.05828.39陕西煤业
60122524.5749.376.580.77-2.22-1.471025.73湘油泵
60331918.1650.8316.370.72-2.36-17.0735.82中航电测
30011415.1772.0722.680.66-2.4711.0697.89高德红外
00241426.9189.4121.770.57-2.4810.07646.24南极电商
00212722.6563.714.740.73-2.52-5.81246.71新洋丰
00090216.3328.585.900.95-2.5329.51241.60宏昌电子
60300220.0423.115.681.11-2.553.0062.10百傲化学
60336017.1285.3619.210.52-2.60-8.8632.28承德露露
00084821.9083.9116.040.72-2.88-17.33105.27安靠智电
30061718.5286.0619.910.56-2.901.5979.31华峰化学
00206434.7554.895.820.93-3.07-10.59571.31福晶科技
00222215.2089.1826.040.50-3.1112.7474.51新易盛
30050227.5066.216.770.73-3.1361.74237.27英飞特
30058216.0269.0819.220.61-3.3715.17101.11奥士康
00291316.7745.9111.540.74-3.8938.46169.48名臣健康
00291926.5281.8224.510.94-4.03-5.6949.16旗滨集团
60163629.3976.4914.060.78-4.0712.99588.82易德龙
60338020.9547.999.751.04-4.1112.0744.77拓邦股份
00213923.7441.6412.711.00-4.63-5.75198.74法拉电子
60056323.0579.7911.180.61-4.8417.69398.25天华超净
30039034.8067.0410.910.70-4.863.59358.30艾华集团
60398917.4359.8915.890.66-5.176.96132.64中颖电子
30032723.4776.5822.500.87-5.18-10.85195.18锐科激光
30074716.3756.9413.220.76-5.32-6.99302.40富临精工
30043217.8564.3216.090.68-5.3774.49211.05百合花
60382318.0548.319.790.76-5.419.0851.15日月股份
60321821.4053.195.570.62-5.4537.33325.70博创科技
30054818.0949.4912.710.77-5.5123.9576.30深南电路
00291622.0445.8512.400.85-5.587.01567.17江苏索普
60074626.6844.145.701.19-5.6321.54211.50怡球资源
60138820.1523.314.471.24-5.665.1177.06火炬电子
60367822.7262.609.090.75-6.0621.54363.29利尔化学
00225820.2553.9411.940.67-6.1524.81156.43天孚通信
30039423.6888.1817.250.54-6.8840.75132.19世名科技
30052216.9476.1816.710.62-8.7825.1756.19金雷股份
30044325.8682.147.480.58-9.0629.8291.17福斯特
60380624.6354.456.410.94-10.0014.221108.51扬杰科技
30037317.4364.7914.580.68-10.25-8.48271.93富满电子
30067138.3176.6411.160.79-11.54-8.37270.50
数据来自:
ROE成长跨越规律 借鉴于东方证券研报结论，以史为鉴，找到发生过ROE上升的公司并复盘，从行业层面分析： 1) 医药、房地产、化工、食品饮料、计算机、家电和汽车是ROE成长性第一梯队的行业，更容易完成ROE20%+的成长目标。 2) 几乎每个高ROE成长性行业背后，都有宏观货币政策或行业产业政策的推动。 3) 消费和科技行业的ROE成长性来源于稳定的下游需求以及技术和产品应用场景的突破更新迭代。 4) 周期板块ROE也有成长性。只不过演绎得更为极端、极致，且受宏观经济的影响最大。 5) 细分子行业、子版块、子产品越多的大行业，越容易诞生高ROE成长性的公司。 从个股财务层面，同样可以归纳总结这些公司N年前的财务特征： 1) 毛利率最高组，ROE起点和天花板均最高，其毛利率在成长期间反而有最大幅度的提升，一定程度上说明了行业壁垒带来强者恒强的情况。 2) 毛利率最低组，其高周转率、低费用率是获得高ROE“入场券”的基础，而成长性则更多地是来自于毛利率的提升、财务杠杆的提升以及把控费能力提升做到极致，这一分组公司倾向于通过增大资本开支扩充产能（重资产类行业）、补充生产增加存货、给予上下游企业现金流话语权来来打通产品销路、从而最终获得利润率的提升。 3) 毛利率居中组，活用杠杆和提升费用支出效率是关键。重资产以及融资性行业更多的是靠有息负债，轻资产行业则更多的是依靠活用无息（或者低息）流动负债，赚上下游产业链的现金流。提升费用支出效率意味着在既定的产品服务毛利率水平下，通过控费、优化管理效率和研发支出、优化销售费用支出来提升营收。 大家都在看： 推荐线索推荐原因今日北上资金净买入17.99亿, 贵州茅台、阳光电源等公司上榜十大成交活跃股近期点赞数较多【精华问答】小队长，三一重工涨停后持续冲高，应该怎么操作？近期点赞数较多不要着急抄底！大盘调整时间不够近期点赞数较多北上资金连续5日加仓个股一览近期收藏数较多早盘特大单资金净流入流出比例最大的30只股票[21/08/03]近期收藏数较多分享三个新行业，政治局会议诞生的机会！近期收藏数较多高瓴重仓杀入！下个宁德时代！近期收藏数较多宁德时代钠离子电池横空出世，“钠”时代来临？近期收藏数较多
数据来自:
