国泰君安-贵州茅台估值模型
2014E2015E2016E2017E
64,472.4391,232.75128,596.41180,631.30
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
2,138.332,926.864,026.395,600.92
0.000.000.000.00
1.14 1.19 1.22 1.22
724.751,007.621,401.121,948.15
137.20190.77265.27368.83 587.55816.851,135.851,579.32
864.471,202.041,671.392,323.97
24.1533.5746.6864.91
840.321,168.471,624.712,259.06
71.3899.22137.97191.84
0.000.000.000.00
0.000.000.000.00
25,818.0935,889.5449,905.8769,392.42
15.4421.4629.8441.49 25,802.6535,868.0849,876.0369,350.92
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00 93,913.80132,113.42185,398.58259,614.59
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
43.4943.5043.5043.50
0.000.000.000.00
43.4943.5043.5043.50
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
5.87 5.87 5.87 5.87
0.000.000.000.00
5.87 5.87 5.87 5.87
5,027.145,147.525,212.205,218.51
7.908.098.198.20 5,019.245,139.435,204.015,210.31
12.2011.209.768.05
72.3268.4164.8162.07
0.000.000.000.00
72.3268.4164.8162.07
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
692.41760.33829.77899.32
0.000.000.000.00
692.41760.33829.77899.32
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
-239.12-279.24-320.35-361.33
39.6339.6439.6439.64
0.000.000.000.00
14.4514.3414.1314.31 5,660.505,803.505,891.145,921.74
0.000.000.000.00 99,574.30137,916.92191,289.71265,536.32
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
603.44839.061,166.681,622.20
0.000.000.000.00
18,883.5926,233.1436,479.9850,728.39
50.8450.8550.8550.85
0.000.000.000.00
623.17621.99621.70622.06
0.000.000.000.00
373.98374.10374.08374.07
2.69
3.72 5.187.20
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
30.5829.9529.8530.13 20,568.2828,152.8138,728.3253,434.90
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00 20,568.2828,152.8138,728.3253,434.90
943.80943.80943.80943.80 1,374.961,374.961,374.961,374.96
10,896.9815,045.0320,620.3928,500.55
0.000.000.000.00 43,972.3561,632.9586,490.11121,272.83 26,951.5637,521.2252,213.0072,643.59 3,171.884,148.045,575.377,880.15 6,119.088,516.0211,854.9116,497.21
0.000.000.000.00 61,632.9586,490.11121,272.83169,539.07
61,632.9586,490.11121,272.83169,539.07 8,516.0211,854.9116,497.2122,952.27
0.000.000.000.00
0.000.000.000.00
0.000.000.000.00
74,848.70103,853.90144,211.99200,358.38 4,157.325,910.218,349.4111,743.05
79,006.02109,764.11152,561.40212,101.43
0.000.000.000.00 99,574.30137,916.92191,289.71265,536.32
0.000.000.000.00