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smart-fin-chart/js/tools/dcf-crosscheck.html
2026-10-22 15:43:17 +08:00

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<section class="df-crosscheck" aria-label="目标收益交叉验证">
<div class="df-column-heading"><span>02</span><div><h3>目标收益交叉验证</h3><p>以当前价格买入,需要怎样的盈利增长</p></div><b>IRR</b></div>
<div class="df-cross-shared df-muted" data-cross-shared>共用当前公司的股价、股本、基期及 DCF 参考价</div>
<details class="df-cross-inputs" open><summary>利润与收益假设 <span class="df-muted">独立于 DCF 现金流增速</span></summary><div class="df-cross-grid">
<div>
<label>基期归母净利润来源
<select data-field="crossProfitMode"><option value="manual">手动填写归母净利润</option><option value="estimate">共用 FCFE + 现金转化率估算</option></select>
</label>
<div class="df-cross-bridge" data-cross-bridge hidden>
<div class="df-muted">已关联基础参数:<span data-cross-fcf>—</span> 亿元 FCFE</div>
<label>基期现金转化率(FCFE ÷ 归母净利润,%)<input data-field="crossConversion" type="number" min="0" step="any" placeholder="填写基期转化率假设"></label>
<div class="df-cross-derived"><span>基期归母净利润(估算)</span><b data-cross-derived>—</b></div>
<div class="df-muted">基期转化率为用户假设;100% 表示假设基期 FCFE 等于归母利润。</div>
</div>
<label class="df-cross-profit" data-cross-manual>基期归母净利润(亿元)<input data-field="crossProfit" type="number" min="0" step="any" placeholder="填写归母净利润"></label>
<div class="df-muted df-cross-source-note" data-cross-source-note></div>
<label class="df-cross-growth">预计归母净利润年增长率(%)<input data-field="crossProfitGrowth" type="number" min="-99.99" max="1000" step="any" placeholder="独立填写利润增速假设"></label>
</div>
<div>
<div class="df-fields">
<label>目标年化收益率(%)<input data-field="crossTarget" type="number" min="-99.99" max="1000" step="any"></label>
<label>持有年限<input data-field="crossYears" type="number" min="1" max="30" step="1"></label>
</div>
<div class="df-cross-pe">
<label>悲观退出 PE(倍)<input data-field="crossPeLow" type="number" min="0" step="any"></label>
<label>基准退出 PE(倍)<input data-field="crossPe" type="number" min="0" step="any"></label>
<label>乐观退出 PE(倍)<input data-field="crossPeHigh" type="number" min="0" step="any"></label>
</div>
<div class="df-muted df-cross-pe-note">退出 PE 为情景假设,不是未来市场定价承诺。目标收益率不会改写 DCF 折现率。</div>
</div>
</div>
<details class="df-cross-advanced" data-cross-advanced>
<summary>分红与股本变化 <span class="df-muted" data-cross-advanced-caption></span></summary>
<div class="df-fields">
<label>首年每股现金股息(元)<input data-field="crossDividend" type="number" min="0" step="any"></label>
<label>每股股息年增长率(%)<input data-field="crossDividendGrowth" type="number" min="-99.99" max="1000" step="any"></label>
<label>股本年变化率(%)<input data-field="crossDilution" type="number" min="-99.99" max="1000" step="any"></label>
</div>
<div class="df-muted df-cross-pe-note">每年末收到股息,末年同时收到股息与退出款;股息路径独立于利润,不计再投资与税费。DCF 按固定股本计算,本区股本变化仅用于收益验证。</div>
</details>
</details>
<div class="df-error" data-cross-error role="alert" hidden></div>
<div class="df-cross-results" data-cross-results aria-live="polite" hidden>
<section class="df-cross-joint" aria-label="共同参考买入上限">
<div class="df-cross-joint-grid">
<div><span>DCF 参考价</span><b data-cross-joint-dcf></b></div>
<div><span>目标收益参考价(含边际)</span><b data-cross-joint-return></b><small class="df-muted" data-cross-return-base></small></div>
<div><span>共同参考买入上限</span><b data-cross-joint-price></b></div>
</div>
<div class="df-muted" data-cross-joint-note></div>
</section>
<section class="df-scenarios" aria-label="现价买入的三种退出情景"><div class="df-section-head"><h3>三种退出情景</h3><span class="df-muted">现价买入 · 预计年化 IRR</span></div><div class="df-scenario-grid" data-cross-cards></div></section>
<section class="df-cross-sensitivity" aria-label="退出 PE 情景验证">
<div class="df-section-head"><h3>退出 PE 情景验证</h3><span class="df-muted">表中为预计年化 IRR</span></div>
<div class="df-table-wrap"><table aria-label="退出 PE 敏感性"><thead><tr><th>买入情景</th><th data-cross-head-low></th><th data-cross-head-base></th><th data-cross-head-high></th></tr></thead><tbody data-cross-scenario-rows></tbody></table></div>
</section>
<details class="df-cross-prices"><summary>展开双价格验证与条件拆解</summary>
<div class="df-section-head"><h3>两种买入价格,分别验证</h3><span class="df-muted" data-cross-caption></span></div>
<div class="df-table-wrap"><table aria-label="双买入价格交叉验证"><thead><tr><th>买入情景</th><th>买入价(元)</th><th>所需利润年增速</th><th>预计年化 IRR</th><th>目标回报条件</th></tr></thead><tbody data-cross-price-rows></tbody></table></div>
<div class="df-muted df-cross-table-note" data-cross-growth-note></div>
<div class="df-cross-checks">
<div><span class="df-muted">现金流估值条件 · 按现价</span><strong data-cross-dcf-condition></strong><p class="df-muted" data-cross-dcf-gap></p></div>
<div><span class="df-muted">盈利与安全边际门槛 · 基准 PE · 按现价</span><strong data-cross-growth-condition></strong><p class="df-muted" data-cross-growth-gap></p></div>
</div>
<div class="df-cross-verdict" data-cross-verdict></div>
</details>
</div>
</section>