@PROLOGUE ڼ
ƶ ڵ ø ȸ ֵ / ..
/ ( ϼ) : ڿ ϰ ־ ϴ.
( ) : ־ װ ̷ ־
ѱ ¯ Ա ȸ ŵּ
δ ޱDZ 븱 ְ Ǿݾƿ
ɾ ^^
ϼ : ߾ ϴ. ϰ ϴ ̳, ö, ÷Ʈ 3
̻ κп ⼱ ϰ, IMF Ű ߴ
..
ڵ ǰ ¯ ѹ غ! غô!!
: ϱ ٵ ߾..
1999 ä 2 6000£ 7600 ٿ , 1997
ؼ ġ ڻ 3 3000£ 1 4000 پ ᆭ ŵ ġ
߾ Ը ߵ ִ ü° ڱ.
ٽ 쵵 ο a/s ǰ η źź ϴ.^^;
ð ƴϾ, ū ־
ϼ: ٵ 츮 ¥ ִ ݺ . ũ ̾
츰 ѱ ȸٴ ȸ ־ ϰŵ.
ѱ Z 츮 зݾ? ٵ ȸ
GM.,ӷ ũ̽.Ÿ,ȥٵ ǥ̾ ϳ ϰ
츰 ༮ ̱ ϰ Ʒؾ .
Ư ǰ ٽ ־ ʿϴ. ༮
ȸ ߱ ȸ ༮ Ƹī.ȸ 츮
ŵΰ .. ٰ ڸ . غϰ
ŵα ִ ̴.
! ? 츮 ѹα ǥ !!
: ! ٵ
ȸ ϱ ( κ ϱ) δ ƴѰ?
ϼ: (Ȳϸ) ..
: ڴ л ǽ忡 츮 ġ ̹ݿ ǰ,
ϸ ˰ Ǵ ݵ ðſ
츮 ġ ϰ ־ô ƺ, и ȯ
ȭ!!
ϼ : ! ( ϳ. ϰ ضĩ..) T.T
ȳϼ? м ڼ Դϴ.
ñ ߾ Դϴ.
ù° ġ ΰ-Դϴ.
̿ ̿ ܼ PER
üġ ڻ갡ġ PBR ƴ
ϴ ̶ Դϴ.
̶ ؼ ġ Ȯϰ ̴! ϴ.
̷ ̷ Ȱ 繫Ҹ ,
ּ ̴~ ִ .
װ ߿ϰ 濵 ո Ǵ ٸ ٰŰ Դ
.(濵 κ ڼ ٷ մϴ.)
ι° (price) ϱ ΰ? Դϴ.
ڿ ־ ãƼ ġ мϴ δ մϴ. 翬
ΰ żؾ մϴ. Ѱ Ѱ Ͱ ðѾ
. м մϴ. Ʋ ɼ 떄 մϴ. ()
ġ ڴ ݰ ̰
ִ ó ȴٰ ϱ 떄Դϴ.
( ƴ عٶϴ.)
1. ?
ڵ ǰ ѹ ȸ ̻ Ȱ Ǵ ̴.
ó / ϼ 迡 ǰ ù Ͼ.
ϼ Һڰ ǰ /ü ѹ Ͼ.
ι ũ ( ǰ , a/sǰ ǸŻ)
ִ.
κ ϴ ߰ Ϳ ϴ .(2004 ݱ )
ڷ:
ǥ ǰ Ը 60% ϰ
Ϳ 33% ϰ ִ.
ݸ ǰ ǸŻ ܿ 38% Ϳ 60%̻ Ѵ.
ΰ?
ٷ ݰ ŭ ִ°? ش ִ.
ϴ ǰ ü ϼ ϴ ̴.
ݱ / ݴ ̶ 忡 ؿԴ.
/ ǰ ¿ ؼ Ҹ ִ κ- ȸ̱
- ۰ Ѱ谡 ־ ̴.
ݸ ǰ ǸŻ ϼ ٴϴ Һڵ鿡 ϴ 1 Ǹ ǰ
. ǰ ؼ ϰ ;ϴ ε鿡 ݰ
ִٰ ִ. κ a/sü ִ .
ؼ ǰ Ǹؾ߸ ϴ ü鿡Ե μ (
ǰ ɷ) ִ.
-----------------̷ κк ͷ ٸ Ÿ. (2 )
2. ~ Ŭ ִ°Ŵ?- κ Ư¡
1> ǰ - !
ȸ簡 ִ ̴.
ǸŰ øų ߴ ̴.
ǰ ̱ ִ
ȭ ̴.
̶ ִ.
κƮ ̴. ̶ հ ,Ȳġ,,߸
ؾ ϴ κƮ ü ȴٸ ϼǾ ־ 뿡 ôô ű⸸ ϸ
ܼ κƮ ̿ ð ̰ û. ڵ ǰ
. ð غ.
⺸ٴ ȿȭ̱ ں ں
ִ ̴. ǰ ܼ ɺ ̿ ũū ̰ ִ.
ܰ迡 ɵ ִ ü Ȯ
ҿ ǰ ÿ ϰ ִ.
ϼ ü Ȯǰ ִ ֿ ̴.
̷ Ϸ ȭ ǰ ƴ°?
ȭ ͷ ̷ Ȳ мغ. :鸸
ǰ ϰ ִ. 2002 1б ü 34% Ұ
ߴ 60% ϰ ִ. ֱ 3 40%̻ Ͽ, ͼ
ͷ 2~3% 6~7% Ͽ ̻ κ ǰ Ȯ
ִ. :%
ǰ ٽ factor ǥϸ .
1 Ǹŷ----------------------------/ ǸŴ
2 ȭ---------------- ϼ Ȯ
3 ------------------------Ǵ پȭ
4 ٽ ǰ Ȯ--------------------ٽ Ȯ
Ұ Ǿ 밡 Ͼ ̴.
ü ħ Ȯ ȭ .
ϼ /ǰ . ̴ ſ ̴.
NF ȭ 40% ̸ ٽ ǰ Ȯ ؼ ܰ迡
Ͽ. ٽ ȭ
̶ ִ. ݱ ȭ ſ ȭ(20%̸) ܼ ̾
δ ȭ Ȯ븦 ɼ ո ߰ Ͼ ̴.
ᱹ ǰ ͼ Ǿ ͷ 纸 1%
7% ϰ, 强 7Ⱓ(2010) ֱ 3Ⱓ (40%) ݺ 15%,
Ŀ 7% ٰ Ͽ.
ǿܷ ǸŰ ʴ´ٰų ȭ ʾ Ƿ ݺ ణ
Ȳ Ͽ. (Ȯ Ʋ ʱ Dz ߷ ϴ
. м Ȳ Ͽ ġ ̴. )
2> A/s ǰ Ǹ
~ Ȯ cash cow !
A/s ǰǸ δ ҵ 20% ͷ ̸鼭
ֱ 3Ⱓ 10%ķ ϴ پ Ҿ λ ͼ ־.
/ Һڰ ϰ / ǰ ϴ a/s ǰ Ǹź
Ǵܵȴ.
, ظؼ ϱ κ̰, 籸Ÿ ߽Ű, / ϴ ҺڿԴ
(ǰ ϴ) ̻ Ȯ ̴.-Һ
A/s ǰǸ ֿ factor ǥϸ .
1 ---------------- ϼ 3 Ǹŵȴ.
2 ũ ȭ --------- ũⰡ ũ ȭ ϼ ũ.
3 ؿ ----------------ؿܿ ͷ(30%) ͷ(15%) ι
-> ؿǸŰ .
4 ǰ ------------ǰ ȫ ǰ
ʿϴ
/ Ǹ ȣ Ͽ 2000븦 Ѿ.
a/s ǰ Ǹ ͷ ִ ؿ Ȯǰ
ִ. (༺ ߾ ݱ ϰ 3 ܱ ѷ ο a/s
߰ ŵΰ ִ ) ߱,Ϲ, Ȱ ε Ǿڰ
ʰ ϱ ̴.
:% ڷ:
Ŵ ȭϷ ̴.
α ̹ ., ÿ ̸
ֱ δ ־ ִ. Һ Ŵ ȭ ų
̴.
Ѱ Ȯ / ϰ ְ, Ǹ RV
ϰ ִٴ ̴.
̸ a/s ǰ ݺ , ι 纸Ͽ a/s ǰ
ǴѴ.
2000 ݱ 10% 8% 7Ⱓ, Ŀ
5%̻ ǴѴ.
:
3 츮 . ?
1> ڱ 迭 ------------------Ⱓ ġ Ҿ
2> / ̿ ó Ȯ ------- ߰ б
쿡 ؼ ¤ Ѿ ִ.
۷ι ǰ ϴ ȸӿ / ۿ
κ غ ο KEY Ʈ̱ ϴ.
ֱ ӷ ũ̽ Ѹ ̷ ο Ʈ.
ϴ.
ڼ 1 豸 迭 2 ؿ ó ٺȭ 3 濵 ؼ
2( ο ) ϱ ٶ
@ 簡ġ . @
Ȱ ü 떄,
Ǵ ƴϴ.
ؼ ذ ؼ, κ ε
ϴµ Ѵ. ̴ ں ڷ ȴ. κ
ü ؼ, ֿ ѵ ̴.
ݸ鿡 ֿ ִ ѵ ¥ ̶
Ͽ ġ м Ͽ. ( Ϻڱ )
=+-ں(ڻ)
: |
|
|
|
ں |
|
1994 |
15843 |
185 |
544 |
962 |
-233 |
1995 |
19859 |
232 |
571 |
1210 |
-407 |
1996 |
24506 |
201 |
737 |
1189 |
-251 |
1997 |
26040 |
124 |
684 |
1511 |
-703 |
1998 |
25364 |
- 898 |
755 |
2357 |
-2500 |
1999 |
16333 |
217 |
637 |
2534 |
-1670 |
2000 |
19761 |
1131 |
279 |
729 |
681 |
2001 |
29647 |
2433 |
462 |
1347 |
1548 |
2002 |
41346 |
3600 |
438 |
1451 |
2587 |
2003 |
53066 |
5506 |
523 |
1841 |
4188 |
:
2000 2003 3Ⱓ
70%. 82%.
簡ġ 簡ġ ϱ
տ 캻 κ Ư¡ Ѵ.
ǰ: ͷ7%, ⼺ 7Ⱓ 15%, 7% (7,15,7)
A/S ǰ Ǹ : ͷ20%, ⼺ 7Ⱓ 8%, 5% (20,8,5)
: 7Ⱓ 1%, 0.9%
ں : 7Ⱓ 3.5% 3.15%
: 15% (÷̼+ⱹäݸ+ũ̾)
7Ⱓ 迡 ӵ ϰ ְ,
ڸ /ϰ ִ ߱ 2008 øȰ 2010
DZ ̴. ̿ ű ڰ( ٰ )
ִ Ͽ Ͽ.
ù° 簡ġ-------------- 6 7600( )
ι° ο < (7,20,10), A/S(20,10,7)>--118000
ðѾ(9/8): 48000-----------------------------------ù°:40.8%
ι°:145%
ͷ,⼺, ,ں Ȯ
.
κе ȣϴٸ,
ġ Ѽ ż Ӻ ϴ.
ֳθƮ ڼ
о ּż մϴ.
̰ е ƽô ̾
ϴ.
MCA л ֳθƮ ߾ϴ.
9 14 ϴ
mca ø
ϳ
5 л
м ֽϴ.(ββ....*^^*)
.....
ε Ͽ
ڽϴ...
̰ ó ϴ.
ħ ްڽϴ....
θ ǰϼ~
ٹ....
^^;
ڼ...
: 鸸 / | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011~~~ |
ǰ | 3457976 | 3976673 | 4573174 | 5259150 | 6048022 | 6955226 | 7998510 | 106980065.1 | |
A/S ǰ Ǹ | 2303383 | 2487654 | 2686666 | 2901599 | 3133727 | 3384425 | 3655179 | 38379382.39 | |
Ѹ | 5761359 | 6464326 | 7259840 | 8160749 | 9181749 | 10339651 | 11653689 | 145359447.5 | |
ǰ | 242058.3 | 278367.1 | 320122.2 | 368140.5 | 423361.6 | 486865.8 | 559895.7 | 7488604.556 | |
A/S ǰ Ǹ | 460676.6 | 497530.7 | 537333.2 | 580319.8 | 626745.4 | 676885.1 | 731035.9 | 7675876.478 | |
Ѽ | 702734.9 | 775897.8 | 857455.3 | 948460.3 | 1050107 | 1163751 | 1290932 | 15164481.03 | |
| 57613.59 | 64643.26 | 72598.4 | 81607.49 | 91817.49 | 103396.5 | 116536.9 | 1453594.475 | |
201647.6 | 226251.4 | 254094.4 | 285626.2 | 321361.2 | 361887.8 | 407879.1 | 5087580.662 | ||
558701 | 614289.7 | 675959.4 | 744441.6 | 820563.2 | 905259.6 | 999589.3 | 11530494.85 | ||
簡ġ | 485826.9 | 464491.2 | 444454.2 | 425636.9 | 407965 | 391368.7 | 375782.6 | 3769339.219 | |
1 (7,15,7)(20,8,5) | |||||||||
η:15% | |||||||||
簡ġ-------6764865 | |||||||||
Ϲ 2 (7,20,10)(20,10,7) | İ ϴ. غ^^;; | ||||||||
η:15% | |||||||||
簡ġ------ 11800000 | |||||||||
ͷ ٰ: | |||||||||
30% / й ̴. | |||||||||
κ μ ͷ ִ 2000 Ͽ. | |||||||||
(ǰ *ͷ)+(A/S ǰ Ǹ *ͷ) ų ͷ Ͽ | |||||||||
κ Ҽ ٻġ . ۳ ͷ 10.17̰ ͷ 10 | .38̾ | ||||||||
· ϸ 2000 · 80%. | |||||||||
̰ ̰ ٿ 40% Ѵٰ ص ʹ ū ͼ | |||||||||
->-> ȯ ų ġ Ͽ 簡ġ Ͽ ջϿ. | |||||||||
մϴ. ñ www,young.mobis.co.kr Խ Ȥ feelfree333@naver.com ֽʽÿ. | |||||||||
ڼ |
۵ ھƳ±...
оϴ..
̶ 信 ϴµ...
ϱ....ں ̶ κϰ ...
ں 繫ǥ Ű ǰ?
ⱹäͷ µ...
츮 ǿ ״ ᵵ Ǵ?
亯 ֽø ϰڽϴ...
ʹ µ Ƽ ߴµ...
ϳ
ε Ź帳ϴ.
ó װ ͳ..
pricetaker.亯 ʾ ˼մϴ. ڱ غϴ ϴ.
ⱹä ѱ ״ ϴ Ұ ū ϴ.
ѱ ް ִ (иũ,豸,ȸ) ãƿ ħü äͷ ٴ ϴ ʴ ڿ ȴ ǴϿϴ.( Դϴ...)
10 ä 4.5% 簡ġ ÿ ÷̼ ڽ ũ̾ ִ ʿմϴ. 4.5+5+5.5=15% Ͽϴ.
ں κ 帧ǥ Ȱ ǹ,ġ,,Ǽڻ ȭ Ǿ ü Ǿ κ մϴ. ʾƵ DZ Ͽ.(帧ǥ Ȱ ~ κԴϴ.)
... ΰ ϴ Դϴ....
θ ǰϼ~^^
Ǽڻ ϰĿ ̷ٰ ϰ
ϴ.
ڼԴ ǰ ?
Ư ؿ ϰǾ Ǽڻ ǹ ü, ϰĺ Ѵٸ ǹ ϰñ Ǵ / Ư Դϴ. ̶ ǼⰣ ų Ŵݾ ϴ. ų ݾ n ڿ ݱ ܼ պκ ǹ ڱ Ÿ 100 ̷ 100ٴ ġ Ŭ Դϴ.
װ ܼ պٴ Ŭ ̱ ų ־ϴ.( ̷ ǹ ü , Ǽ ڻ Һκ ݱ ǹ κ ϱ ǹ ü ǹ ؿ ߰ þ ǹ κи ڷ ϴ ŷο ֽϴ.ٵ Ϸ ؼ ؼ ̷ ߽ϴ. ȸκ ˼մϴ.T.T)
ȿ ֱ ðġ ݿϷ ؿ(ȸ ǹ ʾ)Ϳ ϴ ʴ Ǵܿ Ƽ ڿ Խϴ....,CAESA ǰ մϴ~
(ϳ ǰϱ ........ ..ø @.@)
żŸ̹ ֽ ż簡.. 簡 ° ڳ^^
־ ϰ мص Ǵܰ ̰ .(Ȥ Ƚ Ǽ ...)
Ұ ŭ ũ ũ ǰ.. , ں ̿Ͻ Key ϳ ų ϽŰ ʹ ϳ.... ڻ Key ° ?
(Ŵ ƴϰ ϰ ;Դϴ. κ ״ϱ)
2000 ڻ 24000£ 2003 3 7000 55% ߽ϴ.
ݸ, 279£ 523 88% ߱, ں 729£ 1841 150% ߽ϴ.
ؿ 19000£ 5 3000 170% ߽ϴ.
Ϳ ū Ǵ ū ڻ ,ں ٴ ,ں̶ Ǵ߽ϴ. Ͼ, κ ݾ ( Ͼ) ǰ ڵǾ ϴ ǹִ ߽ϴ.....( ġ ø ϱ ҵմϴ.)
߿ factor ۿ ϴ.(ã ..)
Ȥ ߿ ٸ ҵ ٰŰ ɼ ִ ˷ּ,,,,,
мϴµ ϰڽϴ....... ǰ մϴ.
ᵵ ߿...ģ ּż ^^