业绩差的原因分析和改进
2023年一季度A股归母净利润同比增速较2022年四季度改善,但受价格因素拖累影响,ROE水平延续回落趋势,销售净利率环比下降。上市板方面,主板与创业板盈利录得小幅正增长,科创板业绩下滑明显。大小市值方面,以沪深300为代表的大市值企业归母净利润同比增速企稳回升,以中证1000为代表的小盘股归母净利润增速同比负增长加剧。从产业链来看,上游盈利转弱,中游业绩承压,下游利润修复。行业表现方面,消费业绩占优,成长、金融分化,周期弱势。
1、全A盈利边际改善但非金融企业归母净利润同比维持负增,大盘股业绩优于中小盘股。累计口径下,2023Q1全A/全A(非金融石油石化)营收同比增速为3.82%/3.90%,归母净利润同比1.42%/-6.48%,与2022全年水平相比,2023Q1全A(非金融石油石化)归母净利润同比维持负增。2023年一季度调整后的主板/创业板/科创板归母净利润同比增速分别为-5.75%、1.14%、-46.82%,一季度主板和科创板归母净利润同比增速持续走弱,创业板相对占优。大小市值方面,以沪深300为代表的大市值企业归母净利润同比增速企稳回升,以中证1000为代表的小市值企业盈利负增长加剧。
2、ROE水平再度回落,企业一季度扩大资本开支的信心不足。2022Q4/2023Q1,全A(非金融石油石化)ROE(TTM)为8.15%/7.96%,整体盈利水平再度回落。杜邦三因子拆分来看,2022Q4/2023Q1销售净利率分别为4.63%/4.58%,边际下滑;资产周转率分别为61.4%/60.53%,有所下降;权益乘数为2.75/2.76,边际回升。费用方面,全A(非金融石油石化)销售、管理、财务费用占比均提升。资本开支方面,受民营企业信心不足的影响,一季度全A(非金融石油石化)总资产增速与在建工程增速均回落。
3、上游盈利转弱,中游业绩承压,下游利润修复。1)上游:全球资源品价格自去年四季度以来逐步回落,叠加去年一季度高基数的影响,今年一季度上游板块归母净利润同比增速同比转负,ROE水平触顶回落。2)中游:今年一季度,虽然上游成本压力有所缓和,但受价格因素的拖累以及国内有效需求偏弱的影响,中游板块业绩仍较承压,盈利能力仍待修复。3)下游:随着国内疫情结束后线下消费场景的恢复,一季度服务业消费强劲复苏,居民消费回暖带动下游板块盈利回升,但整体ROE水平还有待提升。
泛消费板块归母净利润同比增长最为显著,TMT与大金融板块业绩底部回升,制造板块中新能源相关行业归母净利润仍维持较高增长,传统周期板块归母净利润显著下行;具体行业方面,2023Q1社会服务、农林牧渔、非银金融、计算机、公用事业利润增速居前,钢铁、建筑材料、电子、基础化工、医药生物行业净利润同比增速显著回落。消费与金融行业盈利能力修复,农林牧渔、社会服务、非银金融、食品饮料等行业ROE(TTM)环比显著提升,TMT板块的传媒、计算机亦有所改善,基础化工、钢铁、建材等传统周期行业ROE水平继续回落。多数行业经营活动现金流占比回落,国防军工、计算机、建筑装饰等行业回落幅度居前。多数行业偿债能力小幅回升,食品饮料、煤炭、美容护理、非银金融、计算机行业速动比率环比回升幅度居前。
备注:本文盈利同比增速、净利润同比增速,均默认为归母净利润同比增速,“利润、业绩、盈利”等类似表述均指归母净利润,除标题或正文注明环比以外,大部分“增速”均指同比增速。
风险提示:统计模型存在缺陷、基于自我认知划分与市场的偏差、历史数据不能代表未来、流动性收紧超预期、经济失速下行、疫情超预期恶化。
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本文源自券商研报精选
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蓟裕伟1787为什么我的业绩上不来? -
洪钧服13015334696 ______ 问题上不来有几个方面的原因: 1、市场的原因: 你的产品是不是市场上畅销的产品,如果不是,你采用过什么方法来提高产品的销量了吗? 2、客户的原因: 客户对你的产品不太重视,不重视的原因在哪里?你有分析过吗? 3、产品的原因: 你所销售的产品,质量、包装、卖点、价格等等方面都有比竞品强吗?如果有,强在哪里?如果没有,弱在哪里?该用什么方法来补救? 4、自身的原因: 你自己是不是真的很努力、很勤奋、很用心、很有技巧、很有方法的去销售过你的产品.如果有,那问题在上面3个原因里面.如果没有,那大多数问题在于自己. 以上是我对你的业绩上不来提到的几点,不知道能否可以帮你解决一部分.这只是我个人的观点而已.希望对你有帮助.谢谢!
蓟裕伟1787如果说,一家企业,或者说,一家公司,他的业绩不好,主要有哪几点原因,具体应该怎么解决? -
洪钧服13015334696 ______ 应该是因企业而异,我觉得最主要的原因应该是人的问题.而且是领导者的问题.没有好的领导者就没有好团队.没有好的团队再好的产品也难以出售.销售真的是一门学问.把团队两个字拆开看你就明白了.好的团队应该是一个有口才的人对着一些有耳朵的人说话.希望你能看明白!祝你成功.
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洪钧服13015334696 ______ 如果你的业绩太差,需要回复领导时,以下是一些回复的技巧: 诚实回答:面对业绩不佳的情况,你需要诚实地回答领导的问题.说明你的业绩不佳的原因,例如可能是因为市场变化,客户需求变化,或者你自身的能力有所欠缺等等.表现出积...
蓟裕伟1787我认为我很努力的完成我所需要达成的绩效但是我的业绩却一直没有提高上去我不知道是什么原因 -
洪钧服13015334696 ______ 这个问题,有两种可能: 1、你设定的绩效还不够好,所以业绩提升不上去 2、你确实努力了,但是方式方法有点不对头,所以事倍功半,效果不佳 你应该仔细分析一下自己的工作状态,然后进行适当的调整,让自己找对发力点.
蓟裕伟1787销售业绩不好是为什么 -
洪钧服13015334696 ______ 可能性很多的:比如大环境的变化,包括政策、市场、文化等 还有就是产品质量和价格也占很大的因素 是不是有替代性产品的出现或者竞品有什么新的战略调整 品牌推广的力度、销售人员的销售能力等
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洪钧服13015334696 ______ 改善业绩的方法: 1、分析调查市场,了解产品销售不佳的更详细原因.比如:是不是竞争对手,一下子多了好几家,让市场份额占的比例缩小,如:是不是对手的产品比我们的更棒,性价比更高 等等~~~ 2、管理好公司的业务团队,提高业务部的业务能力,提升业务的效值. 3、把握好供与销这条黄金链.处理好与经销商之间合作关系. 赢在业绩,首先要赢在市场,赢在市场,首先要赢在客户
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洪钧服13015334696 ______ 从事销售表面看起来是个简单的工作,但做好却不容易,因为它体现的是个人的综合能力.比如:你的热情,你的用心度,你的销售技巧,或者你的仪容等,还有你的投入(时间,勤奋),你的学识,等,所以就有好坏了.你要分析原因,对症而治呀.
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洪钧服13015334696 ______ 每天店铺有赚钱的也有亏本的,导购有赚多的也有赚少的,且有愈演愈烈之势,究竟原因何在?社长总结了导购业绩差常见的8个原因,每一个问题的解决,都能快速提升销售业绩. 1、对顾客采用不适当的称呼 店员在与顾客交谈时,选择正确...
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洪钧服13015334696 ______ 1、年线猜想目前沪市年线的指数位是4378点,该位置是真正的牛熊分界线,机构投资者是非常重视该指数位的,该指数位对沪市指数会有强烈的支撑,指数有望在年线附近产生有一定力度的反弹,如果万一指数跌破年线,这将产生一次最佳机...