引:寻找整车估值的锚随着新能源汽车爆发以及智驾不断成熟,整车的估值体系发生较大的变化,不同整车以PS、PE 等方式来定价。行业变革期间格局重塑,车企在新的产业周期结束前具备较大销量成长潜力,智能化的AI 底层也让整车具备更大延展空间。不同估值体系是对爆发期、成长期和成熟期的描绘,本文尝试从增速定价的统一视角看整车估值运行的合理区间。从DCF 出发,推导整车PE 的锚从DCF 原理出发,在满足一定...
Source Link引:寻找整车估值的锚随着新能源汽车爆发以及智驾不断成熟,整车的估值体系发生较大的变化,不同整车以PS、PE 等方式来定价。行业变革期间格局重塑,车企在新的产业周期结束前具备较大销量成长潜力,智能化的AI 底层也让整车具备更大延展空间。不同估值体系是对爆发期、成长期和成熟期的描绘,本文尝试从增速定价的统一视角看整车估值运行的合理区间。从DCF 出发,推导整车PE 的锚从DCF 原理出发,在满足一定...
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