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2021-09-12

Hi

@至简量化:A股每日量化--市场是最好的老师

2021-09-03

Hi

@whitemeow:$AMC Entertainment(AMC)$ should I wait till tomorrow then buy to average down?

2021-08-30

Hi

@爱上趋势股:收复失地，收益濒临新高！（8/23）

2021-08-13

Hi

抱歉，原内容已删除

2021-08-13

Hi uwu

Global ETF Assets Hit $9 Trillion<blockquote>全球ETF资产达9万亿美元</blockquote>

2021-08-13

Hi

抱歉，原内容已删除

2021-08-04

Nice

NIO: Growth Is Set To Accelerate<blockquote>蔚来：增长将加速</blockquote>

2021-08-04

Hgb

抱歉，原内容已删除

2021-08-04

Poggu

7 Dividend Growth Stocks For August 2021<blockquote>2021年8月7只股息增长股票</blockquote>

去老虎APP查看更多动态

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1M与boll通道（红色为当日数据，蓝色为通道上边界）4.北上资金情况今日北上资金净流入36亿以上，态度没有变化，非常积极。每日北上资金流入情况5.行业热度分析今日市场还是呈现轮动特征，昨日强势的煤炭、电力、钢铁等领跌；而此前调整的芯片、光伏、食品等展开反攻。从行业热度看，最热的还是有色金属和电气","text":"1.整体情况今天市场开盘就在金融大蓝筹的带动下冲破3700点，随后杀了个回马枪，恐慌情绪还没来得及发酵，市场又再次拉升，最终收盘在3700点以上，其他各大指数也全部翻红。今天是教师节，有人说市场是最好的老师，那我想投诉这位老师的教学方式过于粗暴，喜欢来回抽人耳光。到收盘上证指数涨0.27%，深证成指涨0.50%，创业板指涨0.31%。上证50涨1.50%、沪深300涨0.88%、中证500跌0.13%，科创50涨1.76%，各大指数全线上涨，个股却跌多涨少。其中，涨停69家，跌停只有3家，市场分化严重。两市成交额1.5万亿以上,继续维持高位。2.涨跌数据分析本日沪深300成分股一年来价格创新高7个，创新低1个，新高新低差6；中证500成分股一年来价格新高29个，新低2个，新高新低差27；创业板一年创新高2个，创新低1个，新高新低差1。三个指数与新高新低数步调基本一致，没有明显的背离。指数与新高新低线本日沪深300成分股上涨170个，下跌125个；中证500成分股上涨172个，下跌312个；创业板上涨50个，下跌50个。三个指数与新高新低数步调基本一致，没有明显的背离。指数与腾落线3.流动性分析Shibor 1M较昨日上升0.1个BP，shibor 1M重新向布林带中线靠拢，同时shibor 1M 5日EMA均线上升，根据我们择时量化模型，流动性有收紧趋势，注意控制仓位。今天卖掉了根据这个指标买入的创业板50ETF。2021年Shibor 1M与沪深300走势2021年Shibor 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晃晃悠悠的，现在濒临新高了： 蓝色为同时期上证指数走势 然后就是<a href=\"https://laohu8.com/S/U\">$Unity Software Inc.(U)$</a> 走出了预期的反弹，目前就看能不能新高了，如果成的话，趋势就又打开了。 就这样，远离那些风险较大的中概股，不左侧交易，主做趋势股，没什么大问题。","listText":"趋势精选组合又牛叉了，指数跌的时候，少跌；指数反弹的时候大涨。 晃晃悠悠的，现在濒临新高了： 蓝色为同时期上证指数走势 然后就是<a href=\"https://laohu8.com/S/U\">$Unity Software Inc.(U)$</a> 走出了预期的反弹，目前就看能不能新高了，如果成的话，趋势就又打开了。 就这样，远离那些风险较大的中概股，不左侧交易，主做趋势股，没什么大问题。","text":"趋势精选组合又牛叉了，指数跌的时候，少跌；指数反弹的时候大涨。 晃晃悠悠的，现在濒临新高了： 蓝色为同时期上证指数走势 然后就是$Unity Software Inc.(U)$ 走出了预期的反弹，目前就看能不能新高了，如果成的话，趋势就又打开了。 就这样，远离那些风险较大的中概股，不左侧交易，主做趋势股，没什么大问题。","images":[{"img":"https://static.tigerbbs.com/a574fc9f7e6884cdd2b086ed80f02475","width":"-1","height":"-1"},{"img":"https://static.tigerbbs.com/81841c31aabc0cb98a16a3d0599ffdbd","width":"-1","height":"-1"},{"img":"https://static.tigerbbs.com/73b3389312f6ca8c664aae2f99e06f47","width":"-1","height":"-1"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/835884368","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":1,"comments":[],"imageCount":3,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1093,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894237136,"gmtCreate":1628828119025,"gmtModify":1631888738631,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090707232019850","authorIdStr":"4090707232019850"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894237136","repostId":"1127554137","repostType":4,"isVote":1,"tweetType":1,"viewCount":1110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894234212,"gmtCreate":1628828085236,"gmtModify":1631888738645,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090707232019850","authorIdStr":"4090707232019850"},"themes":[],"htmlText":"Hi uwu","listText":"Hi uwu","text":"Hi uwu","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/894234212","repostId":"1159917110","repostType":4,"repost":{"id":"1159917110","kind":"news","pubTimestamp":1628825559,"share":"https://www.laohu8.com/m/news/1159917110?lang=zh_CN&edition=full","pubTime":"2021-08-13 11:32","market":"other","language":"en","title":"Global ETF Assets Hit $9 Trillion<blockquote>全球ETF资产达9万亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159917110","media":"The Wall Street Journal","summary":"Investors poured $705 billion into exchange-traded funds through the first seven months of the year, pushing 2021’s world-wide tally to a record $9.1 trillion, according to data from Morningstar Inc.Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020. Most of the cash has gone into cheap, index-tracking funds, with large-cap and short-term bond ETFs, as well as products offering inflation protection, attracting significant inve","content":"<p><i>Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020.</i></p><p><blockquote><i>今年迄今为止的净流量几乎超过了2020年全年全球投资者转入ETF的7,365亿美元。</i></blockquote></p><p> Investors poured $705 billion into exchange-traded funds through the first seven months of the year, pushing 2021’s world-wide tally to a record $9.1 trillion, according to data from Morningstar Inc.</p><p><blockquote>晨星公司的数据显示，今年前7个月，投资者向交易所交易基金投入了7050亿美元，使2021年全球基金总额达到创纪录的9.1万亿美元。</blockquote></p><p> Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020. Most of the cash has gone into cheap, index-tracking funds, with large-cap and short-term bond ETFs, as well as products offering inflation protection, attracting significant investor interest, according to the data.</p><p><blockquote>今年迄今为止的净流量几乎超过了2020年全年全球投资者转入ETF的7,365亿美元。数据显示，大部分现金都流入了廉价的指数跟踪基金，包括大盘股和短期债券ETF，以及提供通胀保护的产品，吸引了投资者的浓厚兴趣。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/410f9d2305d06d2c68e0d7c714f34841\" tg-width=\"483\" tg-height=\"656\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> U.S. ETFs accounted for a record $519 billion of the total, sending assets in U.S. funds to about $6.6 trillion. ETFs now hold more money than index-tracking mutual funds, which had about $8.8 trillion in assets as of June, though mutual funds overall still command more money, with about $40.7 trillion in assets.</p><p><blockquote>美国ETF占总额的5190亿美元，创历史新高，使美国基金的资产达到约6.6万亿美元。ETF现在持有的资金超过了指数跟踪共同基金，截至6月份，共同基金的资产约为8.8万亿美元，尽管共同基金总体上仍然控制着更多的资金，资产约为40.7万亿美元。</blockquote></p><p> ETFs are baskets of securities that are as easy to trade as a stock. They lack the investment minimums found in many mutual funds, are generally more tax efficient and carry lower fees. The success of ETFs was far from guaranteed after the first one launched in 1993. But enthusiasm for low-cost investments has led to an explosion in ETF assets over the past 10 years.</p><p><blockquote>ETF是一篮子证券，像股票一样易于交易。它们缺乏许多共同基金中的最低投资标准，通常税收效率更高，费用也更低。自1993年推出第一只ETF以来，ETF的成功远未得到保证。但对低成本投资的热情导致了过去10年ETF资产的爆炸式增长。</blockquote></p><p> “ETFs are probably the greatest success story in financial services over the last two decades,” said Anaelle Ubaldino, head of ETF research and investment advisory at data firm TrackInsight, which also tracked ETFs crossing the $9 trillion mark last month.</p><p><blockquote>数据公司TrackInsight的ETF研究和投资咨询主管Anaelle Ubaldino表示：“ETF可能是过去二十年来金融服务业最成功的故事。”该公司上个月也追踪了ETF突破9万亿美元大关的情况。</blockquote></p><p> Vanguard Group has been the biggest draw this year, with its ETFs pulling in nearly $224 billion through the first seven months of 2021. That is 45% more than all the money attracted so far in 2021 by&nbsp;<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>,&nbsp;the world’s No. 1 ETF manager by assets.</p><p><blockquote>先锋集团是今年最大的吸引力，其ETF在2021年前7个月吸引了近2240亿美元。这比2021年迄今为止吸引的所有资金多45%<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>，全球资产排名第一的ETF管理人。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d38df5be26f49e34b5860d86719b885d\" tg-width=\"483\" tg-height=\"769\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Two broad, inexpensive stock-market funds run by Vanguard garnered the most interest from investors. Vanguard’s 500 Index Fund and Total Stock Market Index Fund pulled in $32.3 billion and $23.4 billion so far this year. Of the top 10 funds by inflows in 2021, Vanguard managed six, while BlackRock’s iShares ETF unit oversaw the other four.</p><p><blockquote>先锋集团运营的两只广泛且廉价的股市基金最吸引了投资者的兴趣。今年迄今为止，Vanguard的500指数基金和Total Stock Market指数基金分别筹集了323亿美元和234亿美元。在2021年流入量排名前10的基金中，Vanguard管理着6只，而贝莱德的iShares ETF部门则监管着另外4只。</blockquote></p><p> Since asset managers got regulatory&nbsp;approval in 2019 to run stock-picking ETFs that also shield their daily holdings, Fidelity Investments,&nbsp;<a href=\"https://laohu8.com/S/TROW\">T. Rowe Price</a>,&nbsp;Putnam Investments and others&nbsp;have launched actively managed funds. These are similar to some of their mutual-fund strategies, yet more accessible and usually cheaper for individual investors. Others such as Guinness Atkinson Funds and Dimensional Fund Advisors have opted to convert some mutual funds into ETFs.</p><p><blockquote>自2019年资产管理公司获得监管机构批准运营选股ETF以来，富达投资(Fidelity Investments)，<a href=\"https://laohu8.com/S/TROW\">T·罗·普莱斯</a>、Putnam Investments等纷纷推出主动管理型基金。这些策略类似于他们的一些共同基金策略，但对于个人投资者来说更容易获得，而且通常更便宜。Guinness Atkinson Funds和Dimensional Fund Advisors等其他公司则选择将一些共同基金转换为ETF。</blockquote></p><p> JPMorgan Chase &amp; Co. has launched some actively managed ETFs, including its Equity Premium Income fund last year, which has pulled in $2.4 billion from investors so far in 2021. The banking giant said Wednesday that it plans to convert four active mutual funds managing some $10 billion in assets into ETFs in 2022 pending approval from their boards.</p><p><blockquote>摩根大通推出了一些主动管理型ETF，包括去年的股票溢价收入基金，该基金在2021年迄今已从投资者那里筹集了24亿美元。这家银行业巨头周三表示，计划在2022年将管理约100亿美元资产的四只主动型共同基金转换为ETF，等待董事会批准。</blockquote></p><p> Active ETFs still represent a small but growing segment of the overall ETF market. Nonindexed ETFs, including those that actively pick stocks, carried $358 billion in assets as of July, about 4% of the overall ETF market, according to Morningstar’s data. That was up from $193 billion a year ago.</p><p><blockquote>主动型ETF在整个ETF市场中仍占一小部分但不断增长的部分。根据晨星公司的数据，截至7月份，非指数ETF（包括那些积极选股的ETF）持有3580亿美元的资产，约占整个ETF市场的4%。这高于一年前的1930亿美元。</blockquote></p><p> ETFs come with some risks, however. Narrow, thematic funds can&nbsp;concentrate billions of dollars in assets in a small roster of companies, making them potentially susceptible to a liquidity crunch in volatile markets, some analysts say. ETFs that track indexes, meanwhile, have the potential to fall out of step with benchmarks, which is known as tracking error.</p><p><blockquote>然而，ETF也存在一些风险。一些分析师表示，狭隘的主题基金可以将数十亿美元的资产集中在少数公司中，使它们在动荡的市场中可能容易受到流动性紧缩的影响。与此同时，跟踪指数的ETF有可能与基准不同步，这就是所谓的跟踪误差。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7685b345aab8aeb01f2056972dc2bccf\" tg-width=\"392\" tg-height=\"758\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> With stocks hitting records, some expect more growth ahead. In the U.S. alone, Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors, predicts inflows for all of 2021 could reach nearly $800 billion—more than what has flowed into U.S. mutual funds in the past nine years combined.</p><p><blockquote>随着股市创下历史新高，一些人预计未来将出现更多增长。道富环球投资顾问公司SPDR美洲研究主管马特·巴托里尼(Matt Bartolini)预测，仅在美国，2021年全年的资金流入就可能达到近8000亿美元，超过过去九年流入美国共同基金的资金总和。</blockquote></p><p> “With such dazzling flow totals in a short period of time, it begs the question of how high flows could get in 2021,” said Mr. Bartolini. “Particularly if ETFs can make it into the four commas club.”</p><p><blockquote>巴托里尼先生表示：“短时间内的总流量如此令人眼花缭乱，这就引出了一个问题：2021年的流量会达到多高。”“特别是如果ETF能够进入四逗号俱乐部的话。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Global ETF Assets Hit $9 Trillion<blockquote>全球ETF资产达9万亿美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGlobal ETF Assets Hit $9 Trillion<blockquote>全球ETF资产达9万亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-08-13 11:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020.</i></p><p><blockquote><i>今年迄今为止的净流量几乎超过了2020年全年全球投资者转入ETF的7,365亿美元。</i></blockquote></p><p> Investors poured $705 billion into exchange-traded funds through the first seven months of the year, pushing 2021’s world-wide tally to a record $9.1 trillion, according to data from Morningstar Inc.</p><p><blockquote>晨星公司的数据显示，今年前7个月，投资者向交易所交易基金投入了7050亿美元，使2021年全球基金总额达到创纪录的9.1万亿美元。</blockquote></p><p> Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020. Most of the cash has gone into cheap, index-tracking funds, with large-cap and short-term bond ETFs, as well as products offering inflation protection, attracting significant investor interest, according to the data.</p><p><blockquote>今年迄今为止的净流量几乎超过了2020年全年全球投资者转入ETF的7,365亿美元。数据显示，大部分现金都流入了廉价的指数跟踪基金，包括大盘股和短期债券ETF，以及提供通胀保护的产品，吸引了投资者的浓厚兴趣。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/410f9d2305d06d2c68e0d7c714f34841\" tg-width=\"483\" tg-height=\"656\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> U.S. ETFs accounted for a record $519 billion of the total, sending assets in U.S. funds to about $6.6 trillion. ETFs now hold more money than index-tracking mutual funds, which had about $8.8 trillion in assets as of June, though mutual funds overall still command more money, with about $40.7 trillion in assets.</p><p><blockquote>美国ETF占总额的5190亿美元，创历史新高，使美国基金的资产达到约6.6万亿美元。ETF现在持有的资金超过了指数跟踪共同基金，截至6月份，共同基金的资产约为8.8万亿美元，尽管共同基金总体上仍然控制着更多的资金，资产约为40.7万亿美元。</blockquote></p><p> ETFs are baskets of securities that are as easy to trade as a stock. They lack the investment minimums found in many mutual funds, are generally more tax efficient and carry lower fees. The success of ETFs was far from guaranteed after the first one launched in 1993. But enthusiasm for low-cost investments has led to an explosion in ETF assets over the past 10 years.</p><p><blockquote>ETF是一篮子证券，像股票一样易于交易。它们缺乏许多共同基金中的最低投资标准，通常税收效率更高，费用也更低。自1993年推出第一只ETF以来，ETF的成功远未得到保证。但对低成本投资的热情导致了过去10年ETF资产的爆炸式增长。</blockquote></p><p> “ETFs are probably the greatest success story in financial services over the last two decades,” said Anaelle Ubaldino, head of ETF research and investment advisory at data firm TrackInsight, which also tracked ETFs crossing the $9 trillion mark last month.</p><p><blockquote>数据公司TrackInsight的ETF研究和投资咨询主管Anaelle Ubaldino表示：“ETF可能是过去二十年来金融服务业最成功的故事。”该公司上个月也追踪了ETF突破9万亿美元大关的情况。</blockquote></p><p> Vanguard Group has been the biggest draw this year, with its ETFs pulling in nearly $224 billion through the first seven months of 2021. That is 45% more than all the money attracted so far in 2021 by&nbsp;<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>,&nbsp;the world’s No. 1 ETF manager by assets.</p><p><blockquote>先锋集团是今年最大的吸引力，其ETF在2021年前7个月吸引了近2240亿美元。这比2021年迄今为止吸引的所有资金多45%<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>，全球资产排名第一的ETF管理人。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d38df5be26f49e34b5860d86719b885d\" tg-width=\"483\" tg-height=\"769\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Two broad, inexpensive stock-market funds run by Vanguard garnered the most interest from investors. Vanguard’s 500 Index Fund and Total Stock Market Index Fund pulled in $32.3 billion and $23.4 billion so far this year. Of the top 10 funds by inflows in 2021, Vanguard managed six, while BlackRock’s iShares ETF unit oversaw the other four.</p><p><blockquote>先锋集团运营的两只广泛且廉价的股市基金最吸引了投资者的兴趣。今年迄今为止，Vanguard的500指数基金和Total Stock Market指数基金分别筹集了323亿美元和234亿美元。在2021年流入量排名前10的基金中，Vanguard管理着6只，而贝莱德的iShares ETF部门则监管着另外4只。</blockquote></p><p> Since asset managers got regulatory&nbsp;approval in 2019 to run stock-picking ETFs that also shield their daily holdings, Fidelity Investments,&nbsp;<a href=\"https://laohu8.com/S/TROW\">T. Rowe Price</a>,&nbsp;Putnam Investments and others&nbsp;have launched actively managed funds. These are similar to some of their mutual-fund strategies, yet more accessible and usually cheaper for individual investors. Others such as Guinness Atkinson Funds and Dimensional Fund Advisors have opted to convert some mutual funds into ETFs.</p><p><blockquote>自2019年资产管理公司获得监管机构批准运营选股ETF以来，富达投资(Fidelity Investments)，<a href=\"https://laohu8.com/S/TROW\">T·罗·普莱斯</a>、Putnam Investments等纷纷推出主动管理型基金。这些策略类似于他们的一些共同基金策略，但对于个人投资者来说更容易获得，而且通常更便宜。Guinness Atkinson Funds和Dimensional Fund Advisors等其他公司则选择将一些共同基金转换为ETF。</blockquote></p><p> JPMorgan Chase &amp; Co. has launched some actively managed ETFs, including its Equity Premium Income fund last year, which has pulled in $2.4 billion from investors so far in 2021. The banking giant said Wednesday that it plans to convert four active mutual funds managing some $10 billion in assets into ETFs in 2022 pending approval from their boards.</p><p><blockquote>摩根大通推出了一些主动管理型ETF，包括去年的股票溢价收入基金，该基金在2021年迄今已从投资者那里筹集了24亿美元。这家银行业巨头周三表示，计划在2022年将管理约100亿美元资产的四只主动型共同基金转换为ETF，等待董事会批准。</blockquote></p><p> Active ETFs still represent a small but growing segment of the overall ETF market. Nonindexed ETFs, including those that actively pick stocks, carried $358 billion in assets as of July, about 4% of the overall ETF market, according to Morningstar’s data. That was up from $193 billion a year ago.</p><p><blockquote>主动型ETF在整个ETF市场中仍占一小部分但不断增长的部分。根据晨星公司的数据，截至7月份，非指数ETF（包括那些积极选股的ETF）持有3580亿美元的资产，约占整个ETF市场的4%。这高于一年前的1930亿美元。</blockquote></p><p> ETFs come with some risks, however. Narrow, thematic funds can&nbsp;concentrate billions of dollars in assets in a small roster of companies, making them potentially susceptible to a liquidity crunch in volatile markets, some analysts say. ETFs that track indexes, meanwhile, have the potential to fall out of step with benchmarks, which is known as tracking error.</p><p><blockquote>然而，ETF也存在一些风险。一些分析师表示，狭隘的主题基金可以将数十亿美元的资产集中在少数公司中，使它们在动荡的市场中可能容易受到流动性紧缩的影响。与此同时，跟踪指数的ETF有可能与基准不同步，这就是所谓的跟踪误差。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7685b345aab8aeb01f2056972dc2bccf\" tg-width=\"392\" tg-height=\"758\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> With stocks hitting records, some expect more growth ahead. In the U.S. alone, Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors, predicts inflows for all of 2021 could reach nearly $800 billion—more than what has flowed into U.S. mutual funds in the past nine years combined.</p><p><blockquote>随着股市创下历史新高，一些人预计未来将出现更多增长。道富环球投资顾问公司SPDR美洲研究主管马特·巴托里尼(Matt Bartolini)预测，仅在美国，2021年全年的资金流入就可能达到近8000亿美元，超过过去九年流入美国共同基金的资金总和。</blockquote></p><p> “With such dazzling flow totals in a short period of time, it begs the question of how high flows could get in 2021,” said Mr. Bartolini. “Particularly if ETFs can make it into the four commas club.”</p><p><blockquote>巴托里尼先生表示：“短时间内的总流量如此令人眼花缭乱，这就引出了一个问题：2021年的流量会达到多高。”“特别是如果ETF能够进入四逗号俱乐部的话。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/global-etf-assets-hit-9-trillion-11628769548?mod=markets_lead_pos6\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FIGB":"Fidelity Investment Grade Bond ETF","BLK":"贝莱德","TROW":"普信集团"},"source_url":"https://www.wsj.com/articles/global-etf-assets-hit-9-trillion-11628769548?mod=markets_lead_pos6","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159917110","content_text":"Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020.\nInvestors poured $705 billion into exchange-traded funds through the first seven months of the year, pushing 2021’s world-wide tally to a record $9.1 trillion, according to data from Morningstar Inc.\nNet flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020. Most of the cash has gone into cheap, index-tracking funds, with large-cap and short-term bond ETFs, as well as products offering inflation protection, attracting significant investor interest, according to the data.\n\nU.S. ETFs accounted for a record $519 billion of the total, sending assets in U.S. funds to about $6.6 trillion. ETFs now hold more money than index-tracking mutual funds, which had about $8.8 trillion in assets as of June, though mutual funds overall still command more money, with about $40.7 trillion in assets.\nETFs are baskets of securities that are as easy to trade as a stock. They lack the investment minimums found in many mutual funds, are generally more tax efficient and carry lower fees. The success of ETFs was far from guaranteed after the first one launched in 1993. But enthusiasm for low-cost investments has led to an explosion in ETF assets over the past 10 years.\n“ETFs are probably the greatest success story in financial services over the last two decades,” said Anaelle Ubaldino, head of ETF research and investment advisory at data firm TrackInsight, which also tracked ETFs crossing the $9 trillion mark last month.\nVanguard Group has been the biggest draw this year, with its ETFs pulling in nearly $224 billion through the first seven months of 2021. That is 45% more than all the money attracted so far in 2021 by BlackRock, the world’s No. 1 ETF manager by assets.\n\nTwo broad, inexpensive stock-market funds run by Vanguard garnered the most interest from investors. Vanguard’s 500 Index Fund and Total Stock Market Index Fund pulled in $32.3 billion and $23.4 billion so far this year. Of the top 10 funds by inflows in 2021, Vanguard managed six, while BlackRock’s iShares ETF unit oversaw the other four.\nSince asset managers got regulatory approval in 2019 to run stock-picking ETFs that also shield their daily holdings, Fidelity Investments, T. Rowe Price, Putnam Investments and others have launched actively managed funds. These are similar to some of their mutual-fund strategies, yet more accessible and usually cheaper for individual investors. Others such as Guinness Atkinson Funds and Dimensional Fund Advisors have opted to convert some mutual funds into ETFs.\nJPMorgan Chase & Co. has launched some actively managed ETFs, including its Equity Premium Income fund last year, which has pulled in $2.4 billion from investors so far in 2021. The banking giant said Wednesday that it plans to convert four active mutual funds managing some $10 billion in assets into ETFs in 2022 pending approval from their boards.\nActive ETFs still represent a small but growing segment of the overall ETF market. Nonindexed ETFs, including those that actively pick stocks, carried $358 billion in assets as of July, about 4% of the overall ETF market, according to Morningstar’s data. That was up from $193 billion a year ago.\nETFs come with some risks, however. Narrow, thematic funds can concentrate billions of dollars in assets in a small roster of companies, making them potentially susceptible to a liquidity crunch in volatile markets, some analysts say. ETFs that track indexes, meanwhile, have the potential to fall out of step with benchmarks, which is known as tracking error.\n\nWith stocks hitting records, some expect more growth ahead. In the U.S. alone, Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors, predicts inflows for all of 2021 could reach nearly $800 billion—more than what has flowed into U.S. mutual funds in the past nine years combined.\n“With such dazzling flow totals in a short period of time, it begs the question of how high flows could get in 2021,” said Mr. Bartolini. “Particularly if ETFs can make it into the four commas club.”","news_type":1,"symbols_score_info":{"TROW":0.9,"FIGB":0.9,"BLK":0.9}},"isVote":1,"tweetType":1,"viewCount":1323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894235227,"gmtCreate":1628827986869,"gmtModify":1631888738647,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090707232019850","authorIdStr":"4090707232019850"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894235227","repostId":"1191538365","repostType":4,"isVote":1,"tweetType":1,"viewCount":1264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807498543,"gmtCreate":1628047866782,"gmtModify":1631888738639,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090707232019850","authorIdStr":"4090707232019850"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/807498543","repostId":"1123278856","repostType":4,"repost":{"id":"1123278856","kind":"news","pubTimestamp":1628046173,"share":"https://www.laohu8.com/m/news/1123278856?lang=zh_CN&edition=full","pubTime":"2021-08-04 11:02","market":"us","language":"en","title":"NIO: Growth Is Set To Accelerate<blockquote>蔚来：增长将加速</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1123278856","media":"seekingalpha","summary":"Summary\n\nNIO’s delivery growth in July accelerated over the previous month.\nBecause of this strong s","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>NIO’s delivery growth in July accelerated over the previous month.</li>  <li>Because of this strong start to Q3, I am updating my FY 2021 delivery estimate.</li>  <li>As the semiconductor supply shortage eases, NIO’s delivery growth should further accelerate.</li>  <li>Based on valuation and estimated sales growth, NIO is a buy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/241262452bbefb6f4187cbdc8ada9bef\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>SimonSkafar/iStock via Getty Images</span></p><p><blockquote><ul><li>蔚来7月交付量环比增速加快。</li><li>由于第三季度开局强劲，我正在更新2021财年的交付预估。</li><li>随着半导体供应短缺的缓解，蔚来的交付增长应该会进一步加快。</li><li>根据估值和预计销售增长，蔚来值得买入。</li></ul><p class=\"t-img-caption\"><span>SimonSkafar/iStock来自Getty Images</span></p></blockquote></p><p> NIO (NIO) saw impressive delivery growth in July which indicates stronger than expected growth for the second half of the year… which should also see a normalization in production as the chip supply shortage eases. NIO is not cheap, but impressive delivery and sales growth justify a high sales multiplier factor.</p><p><blockquote>蔚来（蔚来）7月份的交付量增长令人印象深刻，这表明下半年的增长强于预期……随着芯片供应短缺的缓解，生产也应该会正常化。蔚来并不便宜，但令人印象深刻的交付和销售增长证明了高销售乘数因素的合理性。</blockquote></p><p> <b>NIO's delivery growth may accelerate toward the end of the year</b></p><p><blockquote><b>临近年底蔚来交付量增速或将加速</b></blockquote></p><p> For the month of July, NIO reported124.5% Y/Y delivery growth. The Chinese EV maker delivered 7,931 vehicles last month, the majority of which were NIO's five-seater smart electric SUV, the ES6. NIO delivered 3,669 ES6s (46% of total deliveries), 2,560 EC6s vehicles (32% of deliveries), which is NIO's five-seater electric coupe sport utility vehicle, and 1,702 ES8s (21% of deliveries), which is NIO's six or seven-seater smart electric SUV. NIO's ES6 is the best-selling EV SUV in the Chinese maker's product line-up and it has the highest delivery volume. If we break down the growth rate by model, then the ES6 saw 41% Y/Y delivery growth and the ES8 saw 84% Y/Y growth. In July 2020, NIO delivered just 3,533 ES8s and ES6s and deliveries of the EC6 coupe SUV commenced only in September 2020. NIO's 124.5% Y/Y growth rate reported for July, although impressive on its own, may underestimate NIO's total delivery growth for the second half of the year as production returns to normal and EC6 sales start to make a larger impact.</p><p><blockquote>蔚来报告7月份交付量同比增长124.5%。这家中国电动汽车制造商上个月交付了7,931辆汽车，其中大部分是蔚来的五座智能电动SUV ES6。蔚来交付了3,669辆ES6（占总交付量的46%）、2,560辆EC6s（占交付量的32%），这是蔚来的五座电动轿跑车运动型多功能车，以及1,702辆ES8（占交付量的21%），这是蔚来的六座或七座智能电动SUV。蔚来的ES6是这家中国制造商产品线中最畅销的电动SUV，也是交付量最高的。如果我们按车型细分增长率，那么ES6的交付量同比增长41%，ES8的交付量同比增长84%。2020年7月，蔚来仅交付了3,533辆ES8和ES6，EC6轿跑车SUV直到2020年9月才开始交付。蔚来公布的7月份124.5%的同比增长率虽然本身令人印象深刻，但随着生产恢复正常和EC6销售开始产生更大影响，可能会低估蔚来下半年的总交付量增长。</blockquote></p><p> NIO's ES6 and the EC6 deliveries saw a small delivery dip in July, which may be attributable to the chip supply shortage rather than slowing demand. However, the drop in deliveries for these two models was countered by an increase in ES8 deliveries. The net effect was that NIO delivered 152 fewer vehicles in July than it delivered in June. I expect ES6 and EC6 models to resume growth throughout Q3'21 and NIO, like other car brands, should benefit from an improving flow of semiconductors in the second half of the year.</p><p><blockquote>蔚来ES6和EC6 7月份交付量小幅下降，这可能归因于芯片供应短缺，而不是需求放缓。然而，这两款车型交付量的下降被ES8交付量的增加所抵消。净影响是蔚来7月份的汽车交付量比6月份减少了152辆。我预计ES6和EC6车型将在21年第三季度恢复增长，蔚来与其他汽车品牌一样，应该会受益于下半年半导体流量的改善。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4aac41720554953fda9f50597692affe\" tg-width=\"918\" tg-height=\"559\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> Despite supply problems with semiconductors, NIO's growth accelerated in July. NIO's July delivery growth rate of 124.5% exceeded delivery growth in June, a month that saw 116.1% growth over last year. In July 2020, NIO's Y/Y delivery growth rate was 322.1% because the delivery volume was much lower in FY 2019, making for a very favorable Y/Y comparison.</p><p><blockquote><table><tbody><tr></tr></tbody></table>尽管半导体存在供应问题，但蔚来的增长在7月份加速。蔚来7月份的交付增长率为124.5%，超过了6月份的交付增长率，6月份的交付增长率比去年增长了116.1%。2020年7月，蔚来的同比交付增长率为322.1%，因为2019财年的交付量要低得多，这使得同比比较非常有利。</blockquote></p><p> NIO's EV rivals, XPeng (XPEV) and Li Auto (LI), did better. XPeng delivered 8,040 vehicles in July 2021, showing&nbsp;228% Y/Y growth. Delivery growth was driven by XPeng's P7s, the Company's sports smart sedan, of which the Chinese EV maker sold 6,054 models. XPeng also sold 1,986 G3s, its compact SUV, which competes against NIO's range of sport utility vehicles. Li Auto also delivered record results with 8,589 Li ONEs delivered in July 2021. The delivery numbers showed&nbsp;251.3% Y/Y growth. The Li ONE is Li Auto's six-seater electric SUV and it competes for buyers against NIO's ES8. It was the first time for Li Auto to cross the milestone of 8,000 monthly deliveries.</p><p><blockquote>蔚来的电动汽车竞争对手小鹏汽车（XPEV）和理想汽车（LI）表现更好。小鹏汽车2021年7月交付汽车8,040辆，同比增长228%。交付量增长是由小鹏汽车的运动型智能轿车P7s推动的，这家中国电动汽车制造商售出了6,054辆。小鹏汽车还售出了1,986辆G3，这是一款紧凑型SUV，可与蔚来的运动型多用途车系列竞争。理想汽车也取得了创纪录的成绩，2021年7月交付了8,589辆Li One。交付数量同比增长251.3%。Li ONE是理想汽车的六座电动SUV，它与蔚来的ES8争夺买家。这是理想汽车首次突破每月交付量8,000辆的里程碑。</blockquote></p><p> Based on the delivery reports, XPeng and Li Auto have stronger delivery growth rates and each EV maker sold more vehicles than NIO in July. NIO lagged its rivals in July deliveries, but its SUV-centric line-up products nevertheless impressive growth. Because of an expected return to normal production in the second half of the year, I expect NIO's growth to continue to accelerate in the remaining five months of the year. Ford said last week that it sees an&nbsp;improving semiconductor supply situation&nbsp;although chips will continue to be in short supply at least until the end of the year. I expect similar comments from NIO next week when earnings are due at which point management may give a new production/delivery guidance.</p><p><blockquote>根据交付报告，小鹏汽车和理想汽车的交付增长率更强劲，每家电动汽车制造商7月份的汽车销量都超过了蔚来。蔚来7月份的交付量落后于竞争对手，但其以SUV为中心的产品线仍取得了令人印象深刻的增长。由于预计下半年生产将恢复正常，我预计蔚来的增长将在今年剩余的五个月内继续加速。福特上周表示，尽管芯片至少在今年年底前仍将持续短缺，但它认为半导体供应形势正在改善。我预计蔚来下周财报发布时也会发表类似评论，届时管理层可能会给出新的生产/交付指导。</blockquote></p><p></p><p> NIO&nbsp;lowered its Q1'21 production forecast&nbsp;because of the semiconductor shortage to 19,500 models, which indicated 1,000 fewer vehicles to be delivered than called for in its earlier guidance of 20,000-20,500 vehicles. NIO ultimately ended up delivering 20,060 in Q1'21. NIO's Q2 saw deliveries of 21,896, so the Chinese EV maker did better in deliveries than its guidance suggested. Because of this, I expect that production can ramp up significantly in Q3 and Q4 as the chip supply shortage becomes less of a production choke point for NIO. I estimate that NIO will edge closer to the 100,000-delivery milestone this year with growth being driven predominantly by the EC6 and ES8. For Q3'21, I expect NIO to average more than 8,000 monthly deliveries, with the average of monthly deliveries growing to a little bit above 10,000 in Q4'21. Compared to my previous guidance, the FY 2021 delivery estimate reflects an additional 1,840 vehicles to be sold in the second half of 2021. So far, NIO delivered 49,887 models in 2021 (including July deliveries) which is equivalent to 50.4% of my full year delivery estimate.</p><p><blockquote>由于半导体短缺，蔚来将21年第一季度的产量预测下调至19,500辆，这表明交付量比之前指导的20,000-20,500辆少1,000辆。蔚来最终在21年第一季度交付了20,060辆。蔚来第二季度的交付量为21,896辆，因此这家中国电动汽车制造商的交付量好于其指导建议。因此，我预计随着芯片供应短缺不再成为蔚来的生产瓶颈，第三季度和第四季度的产量可能会大幅增加。我估计蔚来今年的交付量将接近10万辆的里程碑，增长主要由EC6和ES8推动。对于21年第三季度，我预计蔚来的平均月交付量将超过8,000辆，21年第四季度的平均月交付量将增长至略高于10,000辆。与我之前的指导相比，2021财年的交付预期反映了2021年下半年将额外销售1,840辆汽车。到目前为止，蔚来在2021年交付了49,887辆车型（包括7月交付量），相当于我全年交付量预期的50.4%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fb9b5de9002f17836d0c5fa3b3034f0\" tg-width=\"905\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>(Source: Author Projections)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者预测）</span></p></blockquote></p><p> <b>NIO's sales are expected to grow rapidly</b></p><p><blockquote><b>蔚来销量有望快速增长</b></blockquote></p><p> NIO is expected to have sales of $8.9B next year, twice as much as XPeng… which has the same P-S ratio than NIO. Li Auto has the cheapest sales growth as FY 2022 revenues are valued with a 5.2 sales multiplier factor. Looking at estimated 5-year revenue growth, Li Auto is expected to grow sales the fastest, in part because of its smaller size. However, NIO will still have very impressive revenue growth of 310% until 2025 (based on next year's sales). Because of NIO's&nbsp;BaaS&nbsp;revenue opportunity (which is better than XPeng's battery lease model), I would choose NIO over the other two Chinese EV makers... despite the lower total sales growth rate.</p><p><blockquote>蔚来明年的销售额预计将达到$8.9 B，是小鹏汽车的两倍……小鹏汽车的市盈率与蔚来相同。理想汽车的销售增长最便宜，因为2022财年收入的销售乘数为5.2。从预计的5年收入增长来看，理想汽车预计销售额增长最快，部分原因是其规模较小。然而，蔚来在2025年之前仍将有310%的非常可观的收入增长（基于明年的销售额）。由于蔚来的BaaS收入机会（比小鹏的电池租赁模式更好），我会选择蔚来而不是其他两家中国电动汽车制造商……尽管总销售额增长率较低。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58c5132b85c6e35c18744ec71c7b2e85\" tg-width=\"905\" tg-height=\"532\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>Risks with NIO</b></p><p><blockquote><b>蔚来的风险</b></blockquote></p><p> The chip supply shortage will be the factor that decides how quickly NIO can return to full production and how quickly deliveries will grow. The EV maker will likely give an update next week when it opens its books for the second quarter. The status update will likely include a modified production guidance for the rest of the year which should be positive if management expects the semiconductor situation to improve, which is what I would expect. What would change my opinion on NIO, and perhaps NIO's valuation, is a slowdown in delivery growth rates which I don't consider in my full year delivery estimate. Slower delivery and revenue growth are the two biggest risks for NIO and the stock.</p><p><blockquote>芯片供应短缺将是决定蔚来恢复全面生产的速度以及交付量增长速度的因素。这家电动汽车制造商可能会在下周公布第二季度账目时提供最新信息。状态更新可能会包括修改后的今年剩余时间的生产指导，如果管理层预计半导体形势会有所改善，这应该是积极的，这也是我所期望的。改变我对蔚来的看法，或许还有蔚来估值的是交付增长率的放缓，我在全年交付预测中没有考虑到这一点。交付放缓和收入增长是蔚来和该股面临的两个最大风险。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> I expect NIO to return to a monthly production of at least 10,000 vehicles by Q4'21 as the chip supply situation eases in the next five months… that at least was the takeaway from Ford's Q2'21 earnings and NIO should similarly experience a better flow of semiconductors. This would clear a major production choke point, giving NIO room to ramp up production in 2021 and accelerate its growth.</p><p><blockquote>我预计，随着芯片供应情况在未来五个月内缓解，蔚来将在21年第4季度恢复到每月至少10,000辆汽车的产量……这至少是福特21年第2季度收益的结论，蔚来也应该同样经历更好的增长半导体的流动。这将消除一个主要的生产瓶颈，为蔚来在2021年提高产量并加速增长提供空间。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Growth Is Set To Accelerate<blockquote>蔚来：增长将加速</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Growth Is Set To Accelerate<blockquote>蔚来：增长将加速</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-04 11:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>NIO’s delivery growth in July accelerated over the previous month.</li>  <li>Because of this strong start to Q3, I am updating my FY 2021 delivery estimate.</li>  <li>As the semiconductor supply shortage eases, NIO’s delivery growth should further accelerate.</li>  <li>Based on valuation and estimated sales growth, NIO is a buy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/241262452bbefb6f4187cbdc8ada9bef\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>SimonSkafar/iStock via Getty Images</span></p><p><blockquote><ul><li>蔚来7月交付量环比增速加快。</li><li>由于第三季度开局强劲，我正在更新2021财年的交付预估。</li><li>随着半导体供应短缺的缓解，蔚来的交付增长应该会进一步加快。</li><li>根据估值和预计销售增长，蔚来值得买入。</li></ul><p class=\"t-img-caption\"><span>SimonSkafar/iStock来自Getty Images</span></p></blockquote></p><p> NIO (NIO) saw impressive delivery growth in July which indicates stronger than expected growth for the second half of the year… which should also see a normalization in production as the chip supply shortage eases. NIO is not cheap, but impressive delivery and sales growth justify a high sales multiplier factor.</p><p><blockquote>蔚来（蔚来）7月份的交付量增长令人印象深刻，这表明下半年的增长强于预期……随着芯片供应短缺的缓解，生产也应该会正常化。蔚来并不便宜，但令人印象深刻的交付和销售增长证明了高销售乘数因素的合理性。</blockquote></p><p> <b>NIO's delivery growth may accelerate toward the end of the year</b></p><p><blockquote><b>临近年底蔚来交付量增速或将加速</b></blockquote></p><p> For the month of July, NIO reported124.5% Y/Y delivery growth. The Chinese EV maker delivered 7,931 vehicles last month, the majority of which were NIO's five-seater smart electric SUV, the ES6. NIO delivered 3,669 ES6s (46% of total deliveries), 2,560 EC6s vehicles (32% of deliveries), which is NIO's five-seater electric coupe sport utility vehicle, and 1,702 ES8s (21% of deliveries), which is NIO's six or seven-seater smart electric SUV. NIO's ES6 is the best-selling EV SUV in the Chinese maker's product line-up and it has the highest delivery volume. If we break down the growth rate by model, then the ES6 saw 41% Y/Y delivery growth and the ES8 saw 84% Y/Y growth. In July 2020, NIO delivered just 3,533 ES8s and ES6s and deliveries of the EC6 coupe SUV commenced only in September 2020. NIO's 124.5% Y/Y growth rate reported for July, although impressive on its own, may underestimate NIO's total delivery growth for the second half of the year as production returns to normal and EC6 sales start to make a larger impact.</p><p><blockquote>蔚来报告7月份交付量同比增长124.5%。这家中国电动汽车制造商上个月交付了7,931辆汽车，其中大部分是蔚来的五座智能电动SUV ES6。蔚来交付了3,669辆ES6（占总交付量的46%）、2,560辆EC6s（占交付量的32%），这是蔚来的五座电动轿跑车运动型多功能车，以及1,702辆ES8（占交付量的21%），这是蔚来的六座或七座智能电动SUV。蔚来的ES6是这家中国制造商产品线中最畅销的电动SUV，也是交付量最高的。如果我们按车型细分增长率，那么ES6的交付量同比增长41%，ES8的交付量同比增长84%。2020年7月，蔚来仅交付了3,533辆ES8和ES6，EC6轿跑车SUV直到2020年9月才开始交付。蔚来公布的7月份124.5%的同比增长率虽然本身令人印象深刻，但随着生产恢复正常和EC6销售开始产生更大影响，可能会低估蔚来下半年的总交付量增长。</blockquote></p><p> NIO's ES6 and the EC6 deliveries saw a small delivery dip in July, which may be attributable to the chip supply shortage rather than slowing demand. However, the drop in deliveries for these two models was countered by an increase in ES8 deliveries. The net effect was that NIO delivered 152 fewer vehicles in July than it delivered in June. I expect ES6 and EC6 models to resume growth throughout Q3'21 and NIO, like other car brands, should benefit from an improving flow of semiconductors in the second half of the year.</p><p><blockquote>蔚来ES6和EC6 7月份交付量小幅下降，这可能归因于芯片供应短缺，而不是需求放缓。然而，这两款车型交付量的下降被ES8交付量的增加所抵消。净影响是蔚来7月份的汽车交付量比6月份减少了152辆。我预计ES6和EC6车型将在21年第三季度恢复增长，蔚来与其他汽车品牌一样，应该会受益于下半年半导体流量的改善。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4aac41720554953fda9f50597692affe\" tg-width=\"918\" tg-height=\"559\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> Despite supply problems with semiconductors, NIO's growth accelerated in July. NIO's July delivery growth rate of 124.5% exceeded delivery growth in June, a month that saw 116.1% growth over last year. In July 2020, NIO's Y/Y delivery growth rate was 322.1% because the delivery volume was much lower in FY 2019, making for a very favorable Y/Y comparison.</p><p><blockquote><table><tbody><tr></tr></tbody></table>尽管半导体存在供应问题，但蔚来的增长在7月份加速。蔚来7月份的交付增长率为124.5%，超过了6月份的交付增长率，6月份的交付增长率比去年增长了116.1%。2020年7月，蔚来的同比交付增长率为322.1%，因为2019财年的交付量要低得多，这使得同比比较非常有利。</blockquote></p><p> NIO's EV rivals, XPeng (XPEV) and Li Auto (LI), did better. XPeng delivered 8,040 vehicles in July 2021, showing&nbsp;228% Y/Y growth. Delivery growth was driven by XPeng's P7s, the Company's sports smart sedan, of which the Chinese EV maker sold 6,054 models. XPeng also sold 1,986 G3s, its compact SUV, which competes against NIO's range of sport utility vehicles. Li Auto also delivered record results with 8,589 Li ONEs delivered in July 2021. The delivery numbers showed&nbsp;251.3% Y/Y growth. The Li ONE is Li Auto's six-seater electric SUV and it competes for buyers against NIO's ES8. It was the first time for Li Auto to cross the milestone of 8,000 monthly deliveries.</p><p><blockquote>蔚来的电动汽车竞争对手小鹏汽车（XPEV）和理想汽车（LI）表现更好。小鹏汽车2021年7月交付汽车8,040辆，同比增长228%。交付量增长是由小鹏汽车的运动型智能轿车P7s推动的，这家中国电动汽车制造商售出了6,054辆。小鹏汽车还售出了1,986辆G3，这是一款紧凑型SUV，可与蔚来的运动型多用途车系列竞争。理想汽车也取得了创纪录的成绩，2021年7月交付了8,589辆Li One。交付数量同比增长251.3%。Li ONE是理想汽车的六座电动SUV，它与蔚来的ES8争夺买家。这是理想汽车首次突破每月交付量8,000辆的里程碑。</blockquote></p><p> Based on the delivery reports, XPeng and Li Auto have stronger delivery growth rates and each EV maker sold more vehicles than NIO in July. NIO lagged its rivals in July deliveries, but its SUV-centric line-up products nevertheless impressive growth. Because of an expected return to normal production in the second half of the year, I expect NIO's growth to continue to accelerate in the remaining five months of the year. Ford said last week that it sees an&nbsp;improving semiconductor supply situation&nbsp;although chips will continue to be in short supply at least until the end of the year. I expect similar comments from NIO next week when earnings are due at which point management may give a new production/delivery guidance.</p><p><blockquote>根据交付报告，小鹏汽车和理想汽车的交付增长率更强劲，每家电动汽车制造商7月份的汽车销量都超过了蔚来。蔚来7月份的交付量落后于竞争对手，但其以SUV为中心的产品线仍取得了令人印象深刻的增长。由于预计下半年生产将恢复正常，我预计蔚来的增长将在今年剩余的五个月内继续加速。福特上周表示，尽管芯片至少在今年年底前仍将持续短缺，但它认为半导体供应形势正在改善。我预计蔚来下周财报发布时也会发表类似评论，届时管理层可能会给出新的生产/交付指导。</blockquote></p><p></p><p> NIO&nbsp;lowered its Q1'21 production forecast&nbsp;because of the semiconductor shortage to 19,500 models, which indicated 1,000 fewer vehicles to be delivered than called for in its earlier guidance of 20,000-20,500 vehicles. NIO ultimately ended up delivering 20,060 in Q1'21. NIO's Q2 saw deliveries of 21,896, so the Chinese EV maker did better in deliveries than its guidance suggested. Because of this, I expect that production can ramp up significantly in Q3 and Q4 as the chip supply shortage becomes less of a production choke point for NIO. I estimate that NIO will edge closer to the 100,000-delivery milestone this year with growth being driven predominantly by the EC6 and ES8. For Q3'21, I expect NIO to average more than 8,000 monthly deliveries, with the average of monthly deliveries growing to a little bit above 10,000 in Q4'21. Compared to my previous guidance, the FY 2021 delivery estimate reflects an additional 1,840 vehicles to be sold in the second half of 2021. So far, NIO delivered 49,887 models in 2021 (including July deliveries) which is equivalent to 50.4% of my full year delivery estimate.</p><p><blockquote>由于半导体短缺，蔚来将21年第一季度的产量预测下调至19,500辆，这表明交付量比之前指导的20,000-20,500辆少1,000辆。蔚来最终在21年第一季度交付了20,060辆。蔚来第二季度的交付量为21,896辆，因此这家中国电动汽车制造商的交付量好于其指导建议。因此，我预计随着芯片供应短缺不再成为蔚来的生产瓶颈，第三季度和第四季度的产量可能会大幅增加。我估计蔚来今年的交付量将接近10万辆的里程碑，增长主要由EC6和ES8推动。对于21年第三季度，我预计蔚来的平均月交付量将超过8,000辆，21年第四季度的平均月交付量将增长至略高于10,000辆。与我之前的指导相比，2021财年的交付预期反映了2021年下半年将额外销售1,840辆汽车。到目前为止，蔚来在2021年交付了49,887辆车型（包括7月交付量），相当于我全年交付量预期的50.4%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fb9b5de9002f17836d0c5fa3b3034f0\" tg-width=\"905\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>(Source: Author Projections)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者预测）</span></p></blockquote></p><p> <b>NIO's sales are expected to grow rapidly</b></p><p><blockquote><b>蔚来销量有望快速增长</b></blockquote></p><p> NIO is expected to have sales of $8.9B next year, twice as much as XPeng… which has the same P-S ratio than NIO. Li Auto has the cheapest sales growth as FY 2022 revenues are valued with a 5.2 sales multiplier factor. Looking at estimated 5-year revenue growth, Li Auto is expected to grow sales the fastest, in part because of its smaller size. However, NIO will still have very impressive revenue growth of 310% until 2025 (based on next year's sales). Because of NIO's&nbsp;BaaS&nbsp;revenue opportunity (which is better than XPeng's battery lease model), I would choose NIO over the other two Chinese EV makers... despite the lower total sales growth rate.</p><p><blockquote>蔚来明年的销售额预计将达到$8.9 B，是小鹏汽车的两倍……小鹏汽车的市盈率与蔚来相同。理想汽车的销售增长最便宜，因为2022财年收入的销售乘数为5.2。从预计的5年收入增长来看，理想汽车预计销售额增长最快，部分原因是其规模较小。然而，蔚来在2025年之前仍将有310%的非常可观的收入增长（基于明年的销售额）。由于蔚来的BaaS收入机会（比小鹏的电池租赁模式更好），我会选择蔚来而不是其他两家中国电动汽车制造商……尽管总销售额增长率较低。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58c5132b85c6e35c18744ec71c7b2e85\" tg-width=\"905\" tg-height=\"532\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>Risks with NIO</b></p><p><blockquote><b>蔚来的风险</b></blockquote></p><p> The chip supply shortage will be the factor that decides how quickly NIO can return to full production and how quickly deliveries will grow. The EV maker will likely give an update next week when it opens its books for the second quarter. The status update will likely include a modified production guidance for the rest of the year which should be positive if management expects the semiconductor situation to improve, which is what I would expect. What would change my opinion on NIO, and perhaps NIO's valuation, is a slowdown in delivery growth rates which I don't consider in my full year delivery estimate. Slower delivery and revenue growth are the two biggest risks for NIO and the stock.</p><p><blockquote>芯片供应短缺将是决定蔚来恢复全面生产的速度以及交付量增长速度的因素。这家电动汽车制造商可能会在下周公布第二季度账目时提供最新信息。状态更新可能会包括修改后的今年剩余时间的生产指导，如果管理层预计半导体形势会有所改善，这应该是积极的，这也是我所期望的。改变我对蔚来的看法，或许还有蔚来估值的是交付增长率的放缓，我在全年交付预测中没有考虑到这一点。交付放缓和收入增长是蔚来和该股面临的两个最大风险。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> I expect NIO to return to a monthly production of at least 10,000 vehicles by Q4'21 as the chip supply situation eases in the next five months… that at least was the takeaway from Ford's Q2'21 earnings and NIO should similarly experience a better flow of semiconductors. This would clear a major production choke point, giving NIO room to ramp up production in 2021 and accelerate its growth.</p><p><blockquote>我预计，随着芯片供应情况在未来五个月内缓解，蔚来将在21年第4季度恢复到每月至少10,000辆汽车的产量……这至少是福特21年第2季度收益的结论，蔚来也应该同样经历更好的增长半导体的流动。这将消除一个主要的生产瓶颈，为蔚来在2021年提高产量并加速增长提供空间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4444428-nio-growth-is-set-to-accelerate\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4444428-nio-growth-is-set-to-accelerate","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123278856","content_text":"Summary\n\nNIO’s delivery growth in July accelerated over the previous month.\nBecause of this strong start to Q3, I am updating my FY 2021 delivery estimate.\nAs the semiconductor supply shortage eases, NIO’s delivery growth should further accelerate.\nBased on valuation and estimated sales growth, NIO is a buy.\n\nSimonSkafar/iStock via Getty Images\nNIO (NIO) saw impressive delivery growth in July which indicates stronger than expected growth for the second half of the year… which should also see a normalization in production as the chip supply shortage eases. NIO is not cheap, but impressive delivery and sales growth justify a high sales multiplier factor.\nNIO's delivery growth may accelerate toward the end of the year\nFor the month of July, NIO reported124.5% Y/Y delivery growth. The Chinese EV maker delivered 7,931 vehicles last month, the majority of which were NIO's five-seater smart electric SUV, the ES6. NIO delivered 3,669 ES6s (46% of total deliveries), 2,560 EC6s vehicles (32% of deliveries), which is NIO's five-seater electric coupe sport utility vehicle, and 1,702 ES8s (21% of deliveries), which is NIO's six or seven-seater smart electric SUV. NIO's ES6 is the best-selling EV SUV in the Chinese maker's product line-up and it has the highest delivery volume. If we break down the growth rate by model, then the ES6 saw 41% Y/Y delivery growth and the ES8 saw 84% Y/Y growth. In July 2020, NIO delivered just 3,533 ES8s and ES6s and deliveries of the EC6 coupe SUV commenced only in September 2020. NIO's 124.5% Y/Y growth rate reported for July, although impressive on its own, may underestimate NIO's total delivery growth for the second half of the year as production returns to normal and EC6 sales start to make a larger impact.\nNIO's ES6 and the EC6 deliveries saw a small delivery dip in July, which may be attributable to the chip supply shortage rather than slowing demand. However, the drop in deliveries for these two models was countered by an increase in ES8 deliveries. The net effect was that NIO delivered 152 fewer vehicles in July than it delivered in June. I expect ES6 and EC6 models to resume growth throughout Q3'21 and NIO, like other car brands, should benefit from an improving flow of semiconductors in the second half of the year.\n(Source: Author)\n\n\n\n\n\nDespite supply problems with semiconductors, NIO's growth accelerated in July. NIO's July delivery growth rate of 124.5% exceeded delivery growth in June, a month that saw 116.1% growth over last year. In July 2020, NIO's Y/Y delivery growth rate was 322.1% because the delivery volume was much lower in FY 2019, making for a very favorable Y/Y comparison.\nNIO's EV rivals, XPeng (XPEV) and Li Auto (LI), did better. XPeng delivered 8,040 vehicles in July 2021, showing 228% Y/Y growth. Delivery growth was driven by XPeng's P7s, the Company's sports smart sedan, of which the Chinese EV maker sold 6,054 models. XPeng also sold 1,986 G3s, its compact SUV, which competes against NIO's range of sport utility vehicles. Li Auto also delivered record results with 8,589 Li ONEs delivered in July 2021. The delivery numbers showed 251.3% Y/Y growth. The Li ONE is Li Auto's six-seater electric SUV and it competes for buyers against NIO's ES8. It was the first time for Li Auto to cross the milestone of 8,000 monthly deliveries.\nBased on the delivery reports, XPeng and Li Auto have stronger delivery growth rates and each EV maker sold more vehicles than NIO in July. NIO lagged its rivals in July deliveries, but its SUV-centric line-up products nevertheless impressive growth. Because of an expected return to normal production in the second half of the year, I expect NIO's growth to continue to accelerate in the remaining five months of the year. Ford said last week that it sees an improving semiconductor supply situation although chips will continue to be in short supply at least until the end of the year. I expect similar comments from NIO next week when earnings are due at which point management may give a new production/delivery guidance.\nNIO lowered its Q1'21 production forecast because of the semiconductor shortage to 19,500 models, which indicated 1,000 fewer vehicles to be delivered than called for in its earlier guidance of 20,000-20,500 vehicles. NIO ultimately ended up delivering 20,060 in Q1'21. NIO's Q2 saw deliveries of 21,896, so the Chinese EV maker did better in deliveries than its guidance suggested. Because of this, I expect that production can ramp up significantly in Q3 and Q4 as the chip supply shortage becomes less of a production choke point for NIO. I estimate that NIO will edge closer to the 100,000-delivery milestone this year with growth being driven predominantly by the EC6 and ES8. For Q3'21, I expect NIO to average more than 8,000 monthly deliveries, with the average of monthly deliveries growing to a little bit above 10,000 in Q4'21. Compared to my previous guidance, the FY 2021 delivery estimate reflects an additional 1,840 vehicles to be sold in the second half of 2021. So far, NIO delivered 49,887 models in 2021 (including July deliveries) which is equivalent to 50.4% of my full year delivery estimate.\n(Source: Author Projections)\nNIO's sales are expected to grow rapidly\nNIO is expected to have sales of $8.9B next year, twice as much as XPeng… which has the same P-S ratio than NIO. Li Auto has the cheapest sales growth as FY 2022 revenues are valued with a 5.2 sales multiplier factor. Looking at estimated 5-year revenue growth, Li Auto is expected to grow sales the fastest, in part because of its smaller size. However, NIO will still have very impressive revenue growth of 310% until 2025 (based on next year's sales). Because of NIO's BaaS revenue opportunity (which is better than XPeng's battery lease model), I would choose NIO over the other two Chinese EV makers... despite the lower total sales growth rate.\n(Source: Author)\nRisks with NIO\nThe chip supply shortage will be the factor that decides how quickly NIO can return to full production and how quickly deliveries will grow. The EV maker will likely give an update next week when it opens its books for the second quarter. The status update will likely include a modified production guidance for the rest of the year which should be positive if management expects the semiconductor situation to improve, which is what I would expect. What would change my opinion on NIO, and perhaps NIO's valuation, is a slowdown in delivery growth rates which I don't consider in my full year delivery estimate. Slower delivery and revenue growth are the two biggest risks for NIO and the stock.\nFinal thoughts\nI expect NIO to return to a monthly production of at least 10,000 vehicles by Q4'21 as the chip supply situation eases in the next five months… that at least was the takeaway from Ford's Q2'21 earnings and NIO should similarly experience a better flow of semiconductors. This would clear a major production choke point, giving NIO room to ramp up production in 2021 and accelerate its growth.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1436,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807407595,"gmtCreate":1628047536817,"gmtModify":1631888738633,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090707232019850","authorIdStr":"4090707232019850"},"themes":[],"htmlText":"Hgb","listText":"Hgb","text":"Hgb","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807407595","repostId":"1199734577","repostType":4,"isVote":1,"tweetType":1,"viewCount":2486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807404384,"gmtCreate":1628047461148,"gmtModify":1631888738637,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090707232019850","authorIdStr":"4090707232019850"},"themes":[],"htmlText":"Poggu","listText":"Poggu","text":"Poggu","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807404384","repostId":"1122614377","repostType":4,"repost":{"id":"1122614377","kind":"news","pubTimestamp":1628047303,"share":"https://www.laohu8.com/m/news/1122614377?lang=zh_CN&edition=full","pubTime":"2021-08-04 11:21","market":"us","language":"en","title":"7 Dividend Growth Stocks For August 2021<blockquote>2021年8月7只股息增长股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122614377","media":"TheStreet","summary":"These companies are delivering exceptional earnings and dividend growth, and their stocks are tradin","content":"<p>These companies are delivering exceptional earnings and dividend growth, and their stocks are trading at reasonable valuations.</p><p><blockquote>这些公司实现了卓越的盈利和股息增长，并且其股票的估值合理。</blockquote></p><p> Last month I started a new series that will rank selections ofDividend Radarstocks and present the seven top-ranked stocks for consideration. Dividend Radar tracks stocks trading on U.S. exchanges with dividend increase streaks of at least five years.</p><p><blockquote>上个月，我开始了一个新系列，将对股息雷达股票的选择进行排名，并提出排名靠前的七只股票供考虑。股息雷达跟踪在美国交易所交易的股息至少五年连续增加的股票。</blockquote></p><p> Each month, I’ll consider different screens to narrow down the more than 750 Dividend Radar stocks. Screens will focus on various aspects of dividend growth investing, such as dividend yield, dividend growth rate, and stock valuation.</p><p><blockquote>每个月，我都会考虑不同的屏幕来缩小750多只股息雷达股票的范围。屏幕将重点关注股息增长投资的各个方面，例如股息收益率、股息增长率和股票估值。</blockquote></p><p> This month, I screened for stocks of companies that have delivered exceptional earnings growth over the last ten years. Additionally, I screened for stocks trading at reasonable valuations and required a 5-year yield on cost (YoC) of at least 3%.</p><p><blockquote>本月，我筛选了过去十年中盈利增长异常的公司股票。此外，我筛选了估值合理的股票，并要求5年期成本收益率(YoC)至少为3%。</blockquote></p><p> <b>Screening and Ranking</b></p><p><blockquote><b>筛选和排名</b></blockquote></p><p> Earnings and earnings growth are the foundation of dividends and dividend growth. Companies could use debt to pay dividends, such as when earnings temporarily are insufficient to cover dividend payouts. Eventually, though, that debt will have to be repaid from earnings, which, presumably and hopefully, would be sufficient to pay off debt and pay the dividend.</p><p><blockquote>盈利和盈利增长是股息和股息增长的基础。公司可以利用债务来支付股息，例如当收益暂时不足以支付股息支付时。不过，最终，这笔债务将不得不从收益中偿还，这大概也有希望足以偿还债务和支付股息。</blockquote></p><p> Portfolio Insight&nbsp;provides earnings and earnings growth data that we can monitor to get a sense of a company’s ability to continue paying and increasing dividends. For this month’s article, I considered Non-GAAP EPS compound annual growth rates [CAGRs] for different time frames. Here’s the specific screening formula:</p><p><blockquote>Portfolio Insight提供盈利和盈利增长数据，我们可以监控这些数据，以了解公司继续支付和增加股息的能力。在本月的文章中，我考虑了不同时间范围内的非GAAP每股收益复合年增长率[CAGR]。下面是具体的筛选公式：</blockquote></p><p> <b>NG EPS 1Y ≥ 10% and NG EPS 3Y ≥ 10% and NG EPS 5Y ≥ 10% and NG EPS 10Y ≥ 10%</b></p><p><blockquote><b>NG EPS 1Y≥10%且NG EPS 3Y≥10%且NG EPS 5Y≥10%且NG EPS 10Y≥10%</b></blockquote></p><p> Additionally, I screened for stocks trading at reasonable valuations. What I mean by “reasonable” is based on my quality/valuation matrix, which gives preferential treatment to higher quality stocks. Essentially, I’m willing to pay a small premium for the highest quality stocks and I demand a larger discount for lower-quality stocks:</p><p><blockquote>此外，我还筛选了估值合理的股票。我所说的“合理”是基于我的质量/估值矩阵，该矩阵优先考虑更高质量的股票。本质上，我愿意为最高质量的股票支付少量溢价，并要求为较低质量的股票提供更大的折扣：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/70d7af9e75bd202d2d9cabb79d04964c\" tg-width=\"1068\" tg-height=\"417\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> I calculate&nbsp;<b>Buy Below</b>&nbsp;prices relative to my fair value [FV] estimates based on this quality/valuation matrix.</p><p><blockquote>我计算<b>在下面购买</b>相对于我基于此质量/估值矩阵的公允价值[FV]估计的价格。</blockquote></p><p> Finally, I screened for stocks with a&nbsp;5-year yield on cost[YoC] above 3%. This metric combines the forward yield and 5-year dividend growth rate [DGR] to determine what your dividend would be relative to today’s stock price after five years of investment, assuming the DGR is maintained.</p><p><blockquote>最后，我筛选了5年期成本收益率[YoC]高于3%的股票。该指标结合了远期收益率和5年股息增长率[DGR]，以确定投资五年后您的股息相对于当前股价的水平（假设DGR保持不变）。</blockquote></p><p> Here is a summary of this month’s screens in general terms:</p><p><blockquote>以下是本月屏幕的概括总结：</blockquote></p><p> <ol>  <li>Exceptional earnings for at least ten years</li>  <li>Reasonable current valuation</li>  <li>Reasonable future dividend income</li> </ol> The latest&nbsp;Dividend Radar(dated July 30, 2021) contains 762 stocks.</p><p><blockquote><ol><li>至少十年的非凡收益</li><li>合理的当前估值</li><li>合理的未来股息收入</li></ol>最新的股息雷达（日期为2021年7月30日）包含762只股票。</blockquote></p><p> Applying the first (fairly stringent) screen reduces the list to only 87 candidates. (Of these, only 20 pass the second screen and only 11 also survive the third screen).</p><p><blockquote>应用第一次（相当严格的）筛选将列表减少到只有87个候选人。（其中，只有20人通过了第二次筛选，只有11人通过了第三次筛选）。</blockquote></p><p> I ranked the candidates by sorting their quality scores (determined via&nbsp;DVK Quality Snapshots) in descending order and used the following metrics, in turn, to break ties:</p><p><blockquote>我通过按降序对候选人的质量分数（通过DVK质量快照确定）进行排序，并依次使用以下指标来打破平局：</blockquote></p><p> <ul>  <li>Simply Safe Dividends' Dividend Safety Scores</li>  <li><i>S&amp;P Credit Ratings</i></li>  <li>Dividend Yield</li> </ul> The tables below show the top seven stocks in rank-order.</p><p><blockquote><ul><li>Simply Safe股息的股息安全评分</li><li><i>标准普尔信用评级</i></li><li>股息率</li></ul>下表按排名顺序显示了排名前七的股票。</blockquote></p><p> <b>7 Top-Ranked Dividend Growth Stocks for August</b></p><p><blockquote><b>8月份股息增长排名靠前的7只股票</b></blockquote></p><p> Here are top-ranked dividend growth stocks that pass this month’s screens:</p><p><blockquote>以下是本月通过筛选的股息增长排名靠前的股票：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e74ac455b7df108e6e1de77ba837a01c\" tg-width=\"865\" tg-height=\"156\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> I own the six highlighted stocks in my&nbsp;DivGro portfolio.</p><p><blockquote>我拥有DivGro投资组合中突出显示的六只股票。</blockquote></p><p> Below, I provide a table with key metrics of interest to dividend growth investors, including the dividend increase streak (<b>Years</b>), the dividend&nbsp;<b>Yield</b>&nbsp;for a recent share&nbsp;<b>Price</b>, and the 5-year dividend growth rate (<b>5-Yr DGR</b>). The&nbsp;<i>Chowder Number</i>(<b>CDN</b>) and 5-year YoC (<b>5-Yr YoC</b>) are measures of a stock’s future total return and dividend income prospects, while the 5-year trailing total returns (<b>5-Yr TTR</b>) is a measure of the stock’s performance over the past five years.</p><p><blockquote>下面，我提供了一个表格，其中包含股息增长投资者感兴趣的关键指标，包括股息增长趋势（<b>年</b>），股息<b>产量</b>对于最近的分享<b>价格</b>，以及5年股息增长率(<b>5年DGR</b>).The<i>杂烩数</i>(<b>CDN</b>）和5年YoC（<b>5年YoC</b>）是衡量股票未来总回报和股息收入前景的指标，而5年追踪总回报（<b>5年TTR</b>）是衡量股票过去五年表现的指标。</blockquote></p><p> I also provide thefive quality indicatorsused in determining each stock's quality score (<b>Qual</b>), as well as my FV estimate (<b>Fair Value</b>) to help identify stocks that trade at favorable valuations. The discount/premium column (<b>–Disc/+Prem</b>) shows the discount or premium of a recent share price to my FV estimates. The last column shows my&nbsp;<b>Buy Below</b>&nbsp;price.</p><p><blockquote>我还提供了用于确定每只股票质量分数的五个质量指标（<b>哪个</b>），以及我的FV估计（<b>公允价值</b>）来帮助识别以有利估值交易的股票。折扣/溢价栏（<b>-盘/+Prem</b>）显示最近股价相对于我的FV估计的折扣或溢价。最后一列显示了我的<b>在下面购买</b>价格。</blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8f324d83432096c060b5f6c3d8160bb2\" tg-width=\"1240\" tg-height=\"357\" width=\"100%\" height=\"auto\"><span>Key metrics and fair value estimates of August’s Top 7 Dividend Growth Stocks (includes data sourced from Dividend Radar).</span></p><p><blockquote><p class=\"t-img-caption\"><span>8月份股息增长前7名股票的关键指标和公允价值估计（包括来自股息雷达的数据）。</span></p></blockquote></p><p> I use a survey approach to derive my FV estimates. I collect FV estimates and price targets from several sources, including Morningstar and Finbox. I also&nbsp;estimate fair valueusing each stock’s five-year average dividend yield. With several estimates and targets available, I ignore the outliers (the lowest and highest values) and use the average of the median and mean of the remaining values as my FV estimate.</p><p><blockquote>我使用调查方法来得出我的FV估计值。我从多个来源收集FV预估和价格目标，包括晨星和Finbox。我还使用每只股票的五年平均股息收益率来估计公允价值。有了几个可用的估计值和目标，我忽略离群值（最低值和最高值），并使用剩余值的中值和平均值的平均值作为我的FV估计值。</blockquote></p><p> Next, let's look at each stock in turn. All data and graphs are courtesy of&nbsp;Portfolio-Insight.com.</p><p><blockquote>接下来，我们依次看一下每只股票。所有数据和图表均由Portfolio-Insight.com提供。</blockquote></p><p> <b>The Home Depot, Inc (HD)</b></p><p><blockquote><b>家得宝公司(HD)</b></blockquote></p><p> Founded in 1978 and based in Atlanta, Georgia, HD is a home improvement retailer that sells an assortment of building materials, home improvement products, and lawn and garden products. HD provides installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers.</p><p><blockquote>HD成立于1978年，总部位于佐治亚州亚特兰大，是一家家居装修零售商，销售各种建筑材料、家居装修产品以及草坪和花园产品。HD为自己动手、为我动手和专业客户提供安装、家庭维护和专业服务计划。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6842eea771a305e92d0bb6d957bd57d2\" tg-width=\"1207\" tg-height=\"395\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c5f3ed296edb6ead77589b6d4b07cbe5\" tg-width=\"1240\" tg-height=\"547\" width=\"100%\" height=\"auto\"><span>HD non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>HD非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>Lockheed Martin Corporation (LMT)</b></p><p><blockquote><b>洛克希德马丁公司(LMT)</b></blockquote></p><p> Founded in 1909 and headquartered in Bethesda, Maryland, LMT is a global security and aerospace company engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems. LMT operates through four segments, Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.</p><p><blockquote>LMT成立于1909年，总部位于马里兰州贝塞斯达，是一家全球安全和航空航天公司，从事先进技术系统的研究、设计、开发、制造、集成和维护。LMT通过四个部门运营：航空、导弹和火控、旋转和任务系统以及空间系统。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/359b23f2763ac619280d013761595377\" tg-width=\"1211\" tg-height=\"400\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/47748a713424d38d792d7a3f143cd43e\" tg-width=\"1240\" tg-height=\"544\" width=\"100%\" height=\"auto\"><span>LMT non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>LMT非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>BlackRock, Inc. (BLK)</b></p><p><blockquote><b>贝莱德公司(BLK)</b></blockquote></p><p> BLK is an investment management company that provides a range of investment and risk management services to institutional and retail clients across the world. The company’s offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BLK was founded in 1988 and is based in New York City.</p><p><blockquote>BLK是一家投资管理公司，为全球机构和零售客户提供一系列投资和风险管理服务。该公司的产品包括投资于股票、固定收益、另类投资和货币市场工具的单一和多资产类别投资组合。BLK成立于1988年，总部位于纽约市。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3c563eda1121ff8577ac7143aa5dce6b\" tg-width=\"1211\" tg-height=\"397\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/35801c7a805cdb486138d656804ecff2\" tg-width=\"1240\" tg-height=\"547\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>Lowe's Companies, Inc. (LOW)</b></p><p><blockquote><b>劳氏公司(LOW)</b></blockquote></p><p> LOW is a home improvement retailer. The company offers a complete line of products for maintenance, repair, remodeling, and home decorating. It also offers installation services through independent contractors, as well as extended protection plans and repair services. LOW was founded in 1946 and is based in Mooresville, North Carolina.</p><p><blockquote>LOW是一家家装零售商。该公司为维护、修理、改造和家居装饰提供完整的产品系列。它还通过独立承包商提供安装服务，以及扩展保护计划和维修服务。LOW成立于1946年，总部位于北卡罗来纳州穆尔斯维尔。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/fac3795d1f098c20a7134b2ba6385f26\" tg-width=\"1214\" tg-height=\"401\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf243f7d5e513612959d20eac51de310\" tg-width=\"1240\" tg-height=\"552\" width=\"100%\" height=\"auto\"><span>LOW non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>非GAAP每股收益和支付股息(TTM)较低，股价重叠</span></p></blockquote></p><p> <b>Northrop Grumman Corporation (NOC)</b></p><p><blockquote><b>诺斯罗普·格鲁曼公司(NOC)</b></blockquote></p><p> Founded in 1939 and based in Falls Church, Virginia, NOC is a leading global security company with both government and commercial customers. NOC provides systems, products, and solutions in unmanned systems; cyber security; command, control, communications and computers intelligence; surveillance and reconnaissance; and logistics and modernization.</p><p><blockquote>NOC成立于1939年，总部位于弗吉尼亚州福尔斯彻奇，是一家全球领先的安全公司，拥有政府和商业客户。NOC提供无人系统中的系统、产品和解决方案；网络安全；指挥、控制、通信和计算机情报；监视和侦察；以及物流和现代化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8d3c9d83f1ce89ce88fbc4db0563e90c\" tg-width=\"1210\" tg-height=\"399\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ed575536c4cdb7b3eefe171a50640922\" tg-width=\"1240\" tg-height=\"546\" width=\"100%\" height=\"auto\"><span>NOC non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>NOC非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>The Allstate Corporation (ALL)</b></p><p><blockquote><b>好事达公司(ALL)</b></blockquote></p><p> Founded in 1931 and headquartered in Northbrook, Illinois, ALL is a holding company engaged in property-liability insurance and life insurance in the United States and Canada. The company sells insurance products covering automobiles, homes, and other properties under the Allstate, Esurance, and Encompass brand names. It also sells life insurance and voluntary accident and health insurance products.</p><p><blockquote>ALL成立于1931年，总部位于伊利诺伊州诺斯布鲁克，是一家在美国和加拿大从事财产责任保险和人寿保险的控股公司。该公司以Allstate、Esurance和Encompass品牌销售涵盖汽车、房屋和其他财产的保险产品。它还销售人寿保险以及自愿意外和健康保险产品。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/2d9e2dcf663b98cc621720a0351a3cf9\" tg-width=\"1212\" tg-height=\"398\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c8d93c9b392e2af4424e59a71fe1333c\" tg-width=\"1240\" tg-height=\"551\" width=\"100%\" height=\"auto\"><span>ALL non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>所有非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>L3Harris Technologies, Inc. (LHX)</b></p><p><blockquote><b>L3哈里斯技术公司(LHX)</b></blockquote></p><p> LHX, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company operates in four segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. LHX was founded in 1895 and is headquartered in Melbourne, Florida.</p><p><blockquote>LHX是一家航空航天和国防技术公司，为全球政府和商业客户提供关键任务解决方案。该公司分为四个部门：综合任务系统、太空和机载系统、通信系统和航空系统。LHX成立于1895年，总部位于佛罗里达州墨尔本。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5231f6010e48ff033da34b6f76ed3e2b\" tg-width=\"1212\" tg-height=\"400\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/182d5456cf84b655db04ad703cc681d4\" tg-width=\"1240\" tg-height=\"552\" width=\"100%\" height=\"auto\"><span>LHX non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>LHX非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>Concluding Remarks</b></p><p><blockquote><b>结束语</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/fbb1e63ebd49ef16583c3992662d1c4f\" tg-width=\"1240\" tg-height=\"359\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> In this article, I ranked reasonably valued dividend growth stocks in Dividend Radar that have maintained Non-GAAP EPS growth rates of at least 10% for the past ten years. I also required a 5-year YoC of at least 3%.</p><p><blockquote>在本文中，我对股息雷达中估值合理的股息增长股票进行了排名，这些股票在过去十年中保持了至少10%的非GAAP每股收益增长率。我还要求5年期YoC至少为3%。</blockquote></p><p> I own six of this month’s stocks. With the exception of my ALL position, my positions are all full-sized positions as determined by my dynamic and flexible&nbsp;portfolio target weighting&nbsp;strategy. ALL is underweight and I would need to add about 75 shares to make if a full-sized position. Given ALL’s 18% discount, it appears to be a good time to do so!</p><p><blockquote>我持有本月的六只股票。除了我的ALL头寸外，我的头寸都是由我的动态灵活的投资组合目标权重策略决定的全尺寸头寸。全部都是跑输大盘，我需要增加大约75股才能建立全仓头寸。鉴于所有的18%折扣，这似乎是一个很好的时机！</blockquote></p><p> I don’t own LHX and it looks like an interesting candidate to consider, though I prefer to open new positions when they offer 5-Year YoC’s of at least 4%. Nevertheless, LHX have impressive growth prospects and a low payout ratio, so I’m going to spend some time researching the stock.</p><p><blockquote>我不拥有LHX，它看起来是一个值得考虑的有趣候选人，尽管我更喜欢在他们提供至少4%的5年期YoC时开设新头寸。尽管如此，LHX具有令人印象深刻的增长前景和较低的派息率，因此我将花一些时间研究该股票。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>7 Dividend Growth Stocks For August 2021<blockquote>2021年8月7只股息增长股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n7 Dividend Growth Stocks For August 2021<blockquote>2021年8月7只股息增长股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-08-04 11:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>These companies are delivering exceptional earnings and dividend growth, and their stocks are trading at reasonable valuations.</p><p><blockquote>这些公司实现了卓越的盈利和股息增长，并且其股票的估值合理。</blockquote></p><p> Last month I started a new series that will rank selections ofDividend Radarstocks and present the seven top-ranked stocks for consideration. Dividend Radar tracks stocks trading on U.S. exchanges with dividend increase streaks of at least five years.</p><p><blockquote>上个月，我开始了一个新系列，将对股息雷达股票的选择进行排名，并提出排名靠前的七只股票供考虑。股息雷达跟踪在美国交易所交易的股息至少五年连续增加的股票。</blockquote></p><p> Each month, I’ll consider different screens to narrow down the more than 750 Dividend Radar stocks. Screens will focus on various aspects of dividend growth investing, such as dividend yield, dividend growth rate, and stock valuation.</p><p><blockquote>每个月，我都会考虑不同的屏幕来缩小750多只股息雷达股票的范围。屏幕将重点关注股息增长投资的各个方面，例如股息收益率、股息增长率和股票估值。</blockquote></p><p> This month, I screened for stocks of companies that have delivered exceptional earnings growth over the last ten years. Additionally, I screened for stocks trading at reasonable valuations and required a 5-year yield on cost (YoC) of at least 3%.</p><p><blockquote>本月，我筛选了过去十年中盈利增长异常的公司股票。此外，我筛选了估值合理的股票，并要求5年期成本收益率(YoC)至少为3%。</blockquote></p><p> <b>Screening and Ranking</b></p><p><blockquote><b>筛选和排名</b></blockquote></p><p> Earnings and earnings growth are the foundation of dividends and dividend growth. Companies could use debt to pay dividends, such as when earnings temporarily are insufficient to cover dividend payouts. Eventually, though, that debt will have to be repaid from earnings, which, presumably and hopefully, would be sufficient to pay off debt and pay the dividend.</p><p><blockquote>盈利和盈利增长是股息和股息增长的基础。公司可以利用债务来支付股息，例如当收益暂时不足以支付股息支付时。不过，最终，这笔债务将不得不从收益中偿还，这大概也有希望足以偿还债务和支付股息。</blockquote></p><p> Portfolio Insight&nbsp;provides earnings and earnings growth data that we can monitor to get a sense of a company’s ability to continue paying and increasing dividends. For this month’s article, I considered Non-GAAP EPS compound annual growth rates [CAGRs] for different time frames. Here’s the specific screening formula:</p><p><blockquote>Portfolio Insight提供盈利和盈利增长数据，我们可以监控这些数据，以了解公司继续支付和增加股息的能力。在本月的文章中，我考虑了不同时间范围内的非GAAP每股收益复合年增长率[CAGR]。下面是具体的筛选公式：</blockquote></p><p> <b>NG EPS 1Y ≥ 10% and NG EPS 3Y ≥ 10% and NG EPS 5Y ≥ 10% and NG EPS 10Y ≥ 10%</b></p><p><blockquote><b>NG EPS 1Y≥10%且NG EPS 3Y≥10%且NG EPS 5Y≥10%且NG EPS 10Y≥10%</b></blockquote></p><p> Additionally, I screened for stocks trading at reasonable valuations. What I mean by “reasonable” is based on my quality/valuation matrix, which gives preferential treatment to higher quality stocks. Essentially, I’m willing to pay a small premium for the highest quality stocks and I demand a larger discount for lower-quality stocks:</p><p><blockquote>此外，我还筛选了估值合理的股票。我所说的“合理”是基于我的质量/估值矩阵，该矩阵优先考虑更高质量的股票。本质上，我愿意为最高质量的股票支付少量溢价，并要求为较低质量的股票提供更大的折扣：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/70d7af9e75bd202d2d9cabb79d04964c\" tg-width=\"1068\" tg-height=\"417\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> I calculate&nbsp;<b>Buy Below</b>&nbsp;prices relative to my fair value [FV] estimates based on this quality/valuation matrix.</p><p><blockquote>我计算<b>在下面购买</b>相对于我基于此质量/估值矩阵的公允价值[FV]估计的价格。</blockquote></p><p> Finally, I screened for stocks with a&nbsp;5-year yield on cost[YoC] above 3%. This metric combines the forward yield and 5-year dividend growth rate [DGR] to determine what your dividend would be relative to today’s stock price after five years of investment, assuming the DGR is maintained.</p><p><blockquote>最后，我筛选了5年期成本收益率[YoC]高于3%的股票。该指标结合了远期收益率和5年股息增长率[DGR]，以确定投资五年后您的股息相对于当前股价的水平（假设DGR保持不变）。</blockquote></p><p> Here is a summary of this month’s screens in general terms:</p><p><blockquote>以下是本月屏幕的概括总结：</blockquote></p><p> <ol>  <li>Exceptional earnings for at least ten years</li>  <li>Reasonable current valuation</li>  <li>Reasonable future dividend income</li> </ol> The latest&nbsp;Dividend Radar(dated July 30, 2021) contains 762 stocks.</p><p><blockquote><ol><li>至少十年的非凡收益</li><li>合理的当前估值</li><li>合理的未来股息收入</li></ol>最新的股息雷达（日期为2021年7月30日）包含762只股票。</blockquote></p><p> Applying the first (fairly stringent) screen reduces the list to only 87 candidates. (Of these, only 20 pass the second screen and only 11 also survive the third screen).</p><p><blockquote>应用第一次（相当严格的）筛选将列表减少到只有87个候选人。（其中，只有20人通过了第二次筛选，只有11人通过了第三次筛选）。</blockquote></p><p> I ranked the candidates by sorting their quality scores (determined via&nbsp;DVK Quality Snapshots) in descending order and used the following metrics, in turn, to break ties:</p><p><blockquote>我通过按降序对候选人的质量分数（通过DVK质量快照确定）进行排序，并依次使用以下指标来打破平局：</blockquote></p><p> <ul>  <li>Simply Safe Dividends' Dividend Safety Scores</li>  <li><i>S&amp;P Credit Ratings</i></li>  <li>Dividend Yield</li> </ul> The tables below show the top seven stocks in rank-order.</p><p><blockquote><ul><li>Simply Safe股息的股息安全评分</li><li><i>标准普尔信用评级</i></li><li>股息率</li></ul>下表按排名顺序显示了排名前七的股票。</blockquote></p><p> <b>7 Top-Ranked Dividend Growth Stocks for August</b></p><p><blockquote><b>8月份股息增长排名靠前的7只股票</b></blockquote></p><p> Here are top-ranked dividend growth stocks that pass this month’s screens:</p><p><blockquote>以下是本月通过筛选的股息增长排名靠前的股票：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e74ac455b7df108e6e1de77ba837a01c\" tg-width=\"865\" tg-height=\"156\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> I own the six highlighted stocks in my&nbsp;DivGro portfolio.</p><p><blockquote>我拥有DivGro投资组合中突出显示的六只股票。</blockquote></p><p> Below, I provide a table with key metrics of interest to dividend growth investors, including the dividend increase streak (<b>Years</b>), the dividend&nbsp;<b>Yield</b>&nbsp;for a recent share&nbsp;<b>Price</b>, and the 5-year dividend growth rate (<b>5-Yr DGR</b>). The&nbsp;<i>Chowder Number</i>(<b>CDN</b>) and 5-year YoC (<b>5-Yr YoC</b>) are measures of a stock’s future total return and dividend income prospects, while the 5-year trailing total returns (<b>5-Yr TTR</b>) is a measure of the stock’s performance over the past five years.</p><p><blockquote>下面，我提供了一个表格，其中包含股息增长投资者感兴趣的关键指标，包括股息增长趋势（<b>年</b>），股息<b>产量</b>对于最近的分享<b>价格</b>，以及5年股息增长率(<b>5年DGR</b>).The<i>杂烩数</i>(<b>CDN</b>）和5年YoC（<b>5年YoC</b>）是衡量股票未来总回报和股息收入前景的指标，而5年追踪总回报（<b>5年TTR</b>）是衡量股票过去五年表现的指标。</blockquote></p><p> I also provide thefive quality indicatorsused in determining each stock's quality score (<b>Qual</b>), as well as my FV estimate (<b>Fair Value</b>) to help identify stocks that trade at favorable valuations. The discount/premium column (<b>–Disc/+Prem</b>) shows the discount or premium of a recent share price to my FV estimates. The last column shows my&nbsp;<b>Buy Below</b>&nbsp;price.</p><p><blockquote>我还提供了用于确定每只股票质量分数的五个质量指标（<b>哪个</b>），以及我的FV估计（<b>公允价值</b>）来帮助识别以有利估值交易的股票。折扣/溢价栏（<b>-盘/+Prem</b>）显示最近股价相对于我的FV估计的折扣或溢价。最后一列显示了我的<b>在下面购买</b>价格。</blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8f324d83432096c060b5f6c3d8160bb2\" tg-width=\"1240\" tg-height=\"357\" width=\"100%\" height=\"auto\"><span>Key metrics and fair value estimates of August’s Top 7 Dividend Growth Stocks (includes data sourced from Dividend Radar).</span></p><p><blockquote><p class=\"t-img-caption\"><span>8月份股息增长前7名股票的关键指标和公允价值估计（包括来自股息雷达的数据）。</span></p></blockquote></p><p> I use a survey approach to derive my FV estimates. I collect FV estimates and price targets from several sources, including Morningstar and Finbox. I also&nbsp;estimate fair valueusing each stock’s five-year average dividend yield. With several estimates and targets available, I ignore the outliers (the lowest and highest values) and use the average of the median and mean of the remaining values as my FV estimate.</p><p><blockquote>我使用调查方法来得出我的FV估计值。我从多个来源收集FV预估和价格目标，包括晨星和Finbox。我还使用每只股票的五年平均股息收益率来估计公允价值。有了几个可用的估计值和目标，我忽略离群值（最低值和最高值），并使用剩余值的中值和平均值的平均值作为我的FV估计值。</blockquote></p><p> Next, let's look at each stock in turn. All data and graphs are courtesy of&nbsp;Portfolio-Insight.com.</p><p><blockquote>接下来，我们依次看一下每只股票。所有数据和图表均由Portfolio-Insight.com提供。</blockquote></p><p> <b>The Home Depot, Inc (HD)</b></p><p><blockquote><b>家得宝公司(HD)</b></blockquote></p><p> Founded in 1978 and based in Atlanta, Georgia, HD is a home improvement retailer that sells an assortment of building materials, home improvement products, and lawn and garden products. HD provides installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers.</p><p><blockquote>HD成立于1978年，总部位于佐治亚州亚特兰大，是一家家居装修零售商，销售各种建筑材料、家居装修产品以及草坪和花园产品。HD为自己动手、为我动手和专业客户提供安装、家庭维护和专业服务计划。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6842eea771a305e92d0bb6d957bd57d2\" tg-width=\"1207\" tg-height=\"395\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c5f3ed296edb6ead77589b6d4b07cbe5\" tg-width=\"1240\" tg-height=\"547\" width=\"100%\" height=\"auto\"><span>HD non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>HD非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>Lockheed Martin Corporation (LMT)</b></p><p><blockquote><b>洛克希德马丁公司(LMT)</b></blockquote></p><p> Founded in 1909 and headquartered in Bethesda, Maryland, LMT is a global security and aerospace company engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems. LMT operates through four segments, Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.</p><p><blockquote>LMT成立于1909年，总部位于马里兰州贝塞斯达，是一家全球安全和航空航天公司，从事先进技术系统的研究、设计、开发、制造、集成和维护。LMT通过四个部门运营：航空、导弹和火控、旋转和任务系统以及空间系统。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/359b23f2763ac619280d013761595377\" tg-width=\"1211\" tg-height=\"400\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/47748a713424d38d792d7a3f143cd43e\" tg-width=\"1240\" tg-height=\"544\" width=\"100%\" height=\"auto\"><span>LMT non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>LMT非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>BlackRock, Inc. (BLK)</b></p><p><blockquote><b>贝莱德公司(BLK)</b></blockquote></p><p> BLK is an investment management company that provides a range of investment and risk management services to institutional and retail clients across the world. The company’s offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BLK was founded in 1988 and is based in New York City.</p><p><blockquote>BLK是一家投资管理公司，为全球机构和零售客户提供一系列投资和风险管理服务。该公司的产品包括投资于股票、固定收益、另类投资和货币市场工具的单一和多资产类别投资组合。BLK成立于1988年，总部位于纽约市。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3c563eda1121ff8577ac7143aa5dce6b\" tg-width=\"1211\" tg-height=\"397\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/35801c7a805cdb486138d656804ecff2\" tg-width=\"1240\" tg-height=\"547\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>Lowe's Companies, Inc. (LOW)</b></p><p><blockquote><b>劳氏公司(LOW)</b></blockquote></p><p> LOW is a home improvement retailer. The company offers a complete line of products for maintenance, repair, remodeling, and home decorating. It also offers installation services through independent contractors, as well as extended protection plans and repair services. LOW was founded in 1946 and is based in Mooresville, North Carolina.</p><p><blockquote>LOW是一家家装零售商。该公司为维护、修理、改造和家居装饰提供完整的产品系列。它还通过独立承包商提供安装服务，以及扩展保护计划和维修服务。LOW成立于1946年，总部位于北卡罗来纳州穆尔斯维尔。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/fac3795d1f098c20a7134b2ba6385f26\" tg-width=\"1214\" tg-height=\"401\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf243f7d5e513612959d20eac51de310\" tg-width=\"1240\" tg-height=\"552\" width=\"100%\" height=\"auto\"><span>LOW non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>非GAAP每股收益和支付股息(TTM)较低，股价重叠</span></p></blockquote></p><p> <b>Northrop Grumman Corporation (NOC)</b></p><p><blockquote><b>诺斯罗普·格鲁曼公司(NOC)</b></blockquote></p><p> Founded in 1939 and based in Falls Church, Virginia, NOC is a leading global security company with both government and commercial customers. NOC provides systems, products, and solutions in unmanned systems; cyber security; command, control, communications and computers intelligence; surveillance and reconnaissance; and logistics and modernization.</p><p><blockquote>NOC成立于1939年，总部位于弗吉尼亚州福尔斯彻奇，是一家全球领先的安全公司，拥有政府和商业客户。NOC提供无人系统中的系统、产品和解决方案；网络安全；指挥、控制、通信和计算机情报；监视和侦察；以及物流和现代化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8d3c9d83f1ce89ce88fbc4db0563e90c\" tg-width=\"1210\" tg-height=\"399\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ed575536c4cdb7b3eefe171a50640922\" tg-width=\"1240\" tg-height=\"546\" width=\"100%\" height=\"auto\"><span>NOC non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>NOC非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>The Allstate Corporation (ALL)</b></p><p><blockquote><b>好事达公司(ALL)</b></blockquote></p><p> Founded in 1931 and headquartered in Northbrook, Illinois, ALL is a holding company engaged in property-liability insurance and life insurance in the United States and Canada. The company sells insurance products covering automobiles, homes, and other properties under the Allstate, Esurance, and Encompass brand names. It also sells life insurance and voluntary accident and health insurance products.</p><p><blockquote>ALL成立于1931年，总部位于伊利诺伊州诺斯布鲁克，是一家在美国和加拿大从事财产责任保险和人寿保险的控股公司。该公司以Allstate、Esurance和Encompass品牌销售涵盖汽车、房屋和其他财产的保险产品。它还销售人寿保险以及自愿意外和健康保险产品。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/2d9e2dcf663b98cc621720a0351a3cf9\" tg-width=\"1212\" tg-height=\"398\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c8d93c9b392e2af4424e59a71fe1333c\" tg-width=\"1240\" tg-height=\"551\" width=\"100%\" height=\"auto\"><span>ALL non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>所有非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>L3Harris Technologies, Inc. (LHX)</b></p><p><blockquote><b>L3哈里斯技术公司(LHX)</b></blockquote></p><p> LHX, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company operates in four segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. LHX was founded in 1895 and is headquartered in Melbourne, Florida.</p><p><blockquote>LHX是一家航空航天和国防技术公司，为全球政府和商业客户提供关键任务解决方案。该公司分为四个部门：综合任务系统、太空和机载系统、通信系统和航空系统。LHX成立于1895年，总部位于佛罗里达州墨尔本。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5231f6010e48ff033da34b6f76ed3e2b\" tg-width=\"1212\" tg-height=\"400\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/182d5456cf84b655db04ad703cc681d4\" tg-width=\"1240\" tg-height=\"552\" width=\"100%\" height=\"auto\"><span>LHX non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>LHX非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>Concluding Remarks</b></p><p><blockquote><b>结束语</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/fbb1e63ebd49ef16583c3992662d1c4f\" tg-width=\"1240\" tg-height=\"359\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> In this article, I ranked reasonably valued dividend growth stocks in Dividend Radar that have maintained Non-GAAP EPS growth rates of at least 10% for the past ten years. I also required a 5-year YoC of at least 3%.</p><p><blockquote>在本文中，我对股息雷达中估值合理的股息增长股票进行了排名，这些股票在过去十年中保持了至少10%的非GAAP每股收益增长率。我还要求5年期YoC至少为3%。</blockquote></p><p> I own six of this month’s stocks. With the exception of my ALL position, my positions are all full-sized positions as determined by my dynamic and flexible&nbsp;portfolio target weighting&nbsp;strategy. ALL is underweight and I would need to add about 75 shares to make if a full-sized position. Given ALL’s 18% discount, it appears to be a good time to do so!</p><p><blockquote>我持有本月的六只股票。除了我的ALL头寸外，我的头寸都是由我的动态灵活的投资组合目标权重策略决定的全尺寸头寸。全部都是跑输大盘，我需要增加大约75股才能建立全仓头寸。鉴于所有的18%折扣，这似乎是一个很好的时机！</blockquote></p><p> I don’t own LHX and it looks like an interesting candidate to consider, though I prefer to open new positions when they offer 5-Year YoC’s of at least 4%. Nevertheless, LHX have impressive growth prospects and a low payout ratio, so I’m going to spend some time researching the stock.</p><p><blockquote>我不拥有LHX，它看起来是一个值得考虑的有趣候选人，尽管我更喜欢在他们提供至少4%的5年期YoC时开设新头寸。尽管如此，LHX具有令人印象深刻的增长前景和较低的派息率，因此我将花一些时间研究该股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/dividendstrategists/dividend-ideas/7-dividend-growth-stocks-for-august-2021\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NOC":"诺斯罗普格鲁曼","BLK":"贝莱德","LHX":"L3Harris Technologies Inc","LOW":"劳氏","ALL":"好事达","LMT":"洛克希德马丁","HD":"家得宝"},"source_url":"https://www.thestreet.com/dividendstrategists/dividend-ideas/7-dividend-growth-stocks-for-august-2021","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122614377","content_text":"These companies are delivering exceptional earnings and dividend growth, and their stocks are trading at reasonable valuations.\nLast month I started a new series that will rank selections ofDividend Radarstocks and present the seven top-ranked stocks for consideration. Dividend Radar tracks stocks trading on U.S. exchanges with dividend increase streaks of at least five years.\nEach month, I’ll consider different screens to narrow down the more than 750 Dividend Radar stocks. Screens will focus on various aspects of dividend growth investing, such as dividend yield, dividend growth rate, and stock valuation.\nThis month, I screened for stocks of companies that have delivered exceptional earnings growth over the last ten years. Additionally, I screened for stocks trading at reasonable valuations and required a 5-year yield on cost (YoC) of at least 3%.\nScreening and Ranking\nEarnings and earnings growth are the foundation of dividends and dividend growth. Companies could use debt to pay dividends, such as when earnings temporarily are insufficient to cover dividend payouts. Eventually, though, that debt will have to be repaid from earnings, which, presumably and hopefully, would be sufficient to pay off debt and pay the dividend.\nPortfolio Insight provides earnings and earnings growth data that we can monitor to get a sense of a company’s ability to continue paying and increasing dividends. For this month’s article, I considered Non-GAAP EPS compound annual growth rates [CAGRs] for different time frames. Here’s the specific screening formula:\nNG EPS 1Y ≥ 10% and NG EPS 3Y ≥ 10% and NG EPS 5Y ≥ 10% and NG EPS 10Y ≥ 10%\nAdditionally, I screened for stocks trading at reasonable valuations. What I mean by “reasonable” is based on my quality/valuation matrix, which gives preferential treatment to higher quality stocks. Essentially, I’m willing to pay a small premium for the highest quality stocks and I demand a larger discount for lower-quality stocks:\n\nI calculate Buy Below prices relative to my fair value [FV] estimates based on this quality/valuation matrix.\nFinally, I screened for stocks with a 5-year yield on cost[YoC] above 3%. This metric combines the forward yield and 5-year dividend growth rate [DGR] to determine what your dividend would be relative to today’s stock price after five years of investment, assuming the DGR is maintained.\nHere is a summary of this month’s screens in general terms:\n\nExceptional earnings for at least ten years\nReasonable current valuation\nReasonable future dividend income\n\nThe latest Dividend Radar(dated July 30, 2021) contains 762 stocks.\nApplying the first (fairly stringent) screen reduces the list to only 87 candidates. (Of these, only 20 pass the second screen and only 11 also survive the third screen).\nI ranked the candidates by sorting their quality scores (determined via DVK Quality Snapshots) in descending order and used the following metrics, in turn, to break ties:\n\nSimply Safe Dividends' Dividend Safety Scores\nS&P Credit Ratings\nDividend Yield\n\nThe tables below show the top seven stocks in rank-order.\n7 Top-Ranked Dividend Growth Stocks for August\nHere are top-ranked dividend growth stocks that pass this month’s screens:\n\nI own the six highlighted stocks in my DivGro portfolio.\nBelow, I provide a table with key metrics of interest to dividend growth investors, including the dividend increase streak (Years), the dividend Yield for a recent share Price, and the 5-year dividend growth rate (5-Yr DGR). The Chowder Number(CDN) and 5-year YoC (5-Yr YoC) are measures of a stock’s future total return and dividend income prospects, while the 5-year trailing total returns (5-Yr TTR) is a measure of the stock’s performance over the past five years.\nI also provide thefive quality indicatorsused in determining each stock's quality score (Qual), as well as my FV estimate (Fair Value) to help identify stocks that trade at favorable valuations. The discount/premium column (–Disc/+Prem) shows the discount or premium of a recent share price to my FV estimates. The last column shows my Buy Below price.\nKey metrics and fair value estimates of August’s Top 7 Dividend Growth Stocks (includes data sourced from Dividend Radar).\nI use a survey approach to derive my FV estimates. I collect FV estimates and price targets from several sources, including Morningstar and Finbox. I also estimate fair valueusing each stock’s five-year average dividend yield. With several estimates and targets available, I ignore the outliers (the lowest and highest values) and use the average of the median and mean of the remaining values as my FV estimate.\nNext, let's look at each stock in turn. All data and graphs are courtesy of Portfolio-Insight.com.\nThe Home Depot, Inc (HD)\nFounded in 1978 and based in Atlanta, Georgia, HD is a home improvement retailer that sells an assortment of building materials, home improvement products, and lawn and garden products. HD provides installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers.\n\nHD non-GAAP EPS and dividends paid (TTM), with stock price overlay\nLockheed Martin Corporation (LMT)\nFounded in 1909 and headquartered in Bethesda, Maryland, LMT is a global security and aerospace company engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems. LMT operates through four segments, Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.\n\nLMT non-GAAP EPS and dividends paid (TTM), with stock price overlay\nBlackRock, Inc. (BLK)\nBLK is an investment management company that provides a range of investment and risk management services to institutional and retail clients across the world. The company’s offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BLK was founded in 1988 and is based in New York City.\n\nLowe's Companies, Inc. (LOW)\nLOW is a home improvement retailer. The company offers a complete line of products for maintenance, repair, remodeling, and home decorating. It also offers installation services through independent contractors, as well as extended protection plans and repair services. LOW was founded in 1946 and is based in Mooresville, North Carolina.\n\nLOW non-GAAP EPS and dividends paid (TTM), with stock price overlay\nNorthrop Grumman Corporation (NOC)\nFounded in 1939 and based in Falls Church, Virginia, NOC is a leading global security company with both government and commercial customers. NOC provides systems, products, and solutions in unmanned systems; cyber security; command, control, communications and computers intelligence; surveillance and reconnaissance; and logistics and modernization.\n\nNOC non-GAAP EPS and dividends paid (TTM), with stock price overlay\nThe Allstate Corporation (ALL)\nFounded in 1931 and headquartered in Northbrook, Illinois, ALL is a holding company engaged in property-liability insurance and life insurance in the United States and Canada. The company sells insurance products covering automobiles, homes, and other properties under the Allstate, Esurance, and Encompass brand names. It also sells life insurance and voluntary accident and health insurance products.\n\nALL non-GAAP EPS and dividends paid (TTM), with stock price overlay\nL3Harris Technologies, Inc. (LHX)\nLHX, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company operates in four segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. LHX was founded in 1895 and is headquartered in Melbourne, Florida.\n\nLHX non-GAAP EPS and dividends paid (TTM), with stock price overlay\nConcluding Remarks\n\nIn this article, I ranked reasonably valued dividend growth stocks in Dividend Radar that have maintained Non-GAAP EPS growth rates of at least 10% for the past ten years. I also required a 5-year YoC of at least 3%.\nI own six of this month’s stocks. With the exception of my ALL position, my positions are all full-sized positions as determined by my dynamic and flexible portfolio target weighting strategy. ALL is underweight and I would need to add about 75 shares to make if a full-sized position. Given ALL’s 18% discount, it appears to be a good time to do so!\nI don’t own LHX and it looks like an interesting candidate to consider, though I prefer to open new positions when they offer 5-Year YoC’s of at least 4%. Nevertheless, LHX have impressive growth prospects and a low payout ratio, so I’m going to spend some time researching the stock.","news_type":1,"symbols_score_info":{"NOC":0.9,"ALL":0.9,"BLK":0.9,"HD":0.9,"LMT":0.9,"LHX":0.9,"LOW":0.9}},"isVote":1,"tweetType":1,"viewCount":681,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":807407595,"gmtCreate":1628047536817,"gmtModify":1631888738633,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090707232019850","idStr":"4090707232019850"},"themes":[],"htmlText":"Hgb","listText":"Hgb","text":"Hgb","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807407595","repostId":"1199734577","repostType":4,"isVote":1,"tweetType":1,"viewCount":2486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894237136,"gmtCreate":1628828119025,"gmtModify":1631888738631,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090707232019850","idStr":"4090707232019850"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894237136","repostId":"1127554137","repostType":4,"isVote":1,"tweetType":1,"viewCount":1110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894234212,"gmtCreate":1628828085236,"gmtModify":1631888738645,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090707232019850","idStr":"4090707232019850"},"themes":[],"htmlText":"Hi uwu","listText":"Hi uwu","text":"Hi uwu","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/894234212","repostId":"1159917110","repostType":4,"repost":{"id":"1159917110","kind":"news","pubTimestamp":1628825559,"share":"https://www.laohu8.com/m/news/1159917110?lang=zh_CN&edition=full","pubTime":"2021-08-13 11:32","market":"other","language":"en","title":"Global ETF Assets Hit $9 Trillion<blockquote>全球ETF资产达9万亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159917110","media":"The Wall Street Journal","summary":"Investors poured $705 billion into exchange-traded funds through the first seven months of the year, pushing 2021’s world-wide tally to a record $9.1 trillion, according to data from Morningstar Inc.Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020. Most of the cash has gone into cheap, index-tracking funds, with large-cap and short-term bond ETFs, as well as products offering inflation protection, attracting significant inve","content":"<p><i>Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020.</i></p><p><blockquote><i>今年迄今为止的净流量几乎超过了2020年全年全球投资者转入ETF的7,365亿美元。</i></blockquote></p><p> Investors poured $705 billion into exchange-traded funds through the first seven months of the year, pushing 2021’s world-wide tally to a record $9.1 trillion, according to data from Morningstar Inc.</p><p><blockquote>晨星公司的数据显示，今年前7个月，投资者向交易所交易基金投入了7050亿美元，使2021年全球基金总额达到创纪录的9.1万亿美元。</blockquote></p><p> Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020. Most of the cash has gone into cheap, index-tracking funds, with large-cap and short-term bond ETFs, as well as products offering inflation protection, attracting significant investor interest, according to the data.</p><p><blockquote>今年迄今为止的净流量几乎超过了2020年全年全球投资者转入ETF的7,365亿美元。数据显示，大部分现金都流入了廉价的指数跟踪基金，包括大盘股和短期债券ETF，以及提供通胀保护的产品，吸引了投资者的浓厚兴趣。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/410f9d2305d06d2c68e0d7c714f34841\" tg-width=\"483\" tg-height=\"656\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> U.S. ETFs accounted for a record $519 billion of the total, sending assets in U.S. funds to about $6.6 trillion. ETFs now hold more money than index-tracking mutual funds, which had about $8.8 trillion in assets as of June, though mutual funds overall still command more money, with about $40.7 trillion in assets.</p><p><blockquote>美国ETF占总额的5190亿美元，创历史新高，使美国基金的资产达到约6.6万亿美元。ETF现在持有的资金超过了指数跟踪共同基金，截至6月份，共同基金的资产约为8.8万亿美元，尽管共同基金总体上仍然控制着更多的资金，资产约为40.7万亿美元。</blockquote></p><p> ETFs are baskets of securities that are as easy to trade as a stock. They lack the investment minimums found in many mutual funds, are generally more tax efficient and carry lower fees. The success of ETFs was far from guaranteed after the first one launched in 1993. But enthusiasm for low-cost investments has led to an explosion in ETF assets over the past 10 years.</p><p><blockquote>ETF是一篮子证券，像股票一样易于交易。它们缺乏许多共同基金中的最低投资标准，通常税收效率更高，费用也更低。自1993年推出第一只ETF以来，ETF的成功远未得到保证。但对低成本投资的热情导致了过去10年ETF资产的爆炸式增长。</blockquote></p><p> “ETFs are probably the greatest success story in financial services over the last two decades,” said Anaelle Ubaldino, head of ETF research and investment advisory at data firm TrackInsight, which also tracked ETFs crossing the $9 trillion mark last month.</p><p><blockquote>数据公司TrackInsight的ETF研究和投资咨询主管Anaelle Ubaldino表示：“ETF可能是过去二十年来金融服务业最成功的故事。”该公司上个月也追踪了ETF突破9万亿美元大关的情况。</blockquote></p><p> Vanguard Group has been the biggest draw this year, with its ETFs pulling in nearly $224 billion through the first seven months of 2021. That is 45% more than all the money attracted so far in 2021 by&nbsp;<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>,&nbsp;the world’s No. 1 ETF manager by assets.</p><p><blockquote>先锋集团是今年最大的吸引力，其ETF在2021年前7个月吸引了近2240亿美元。这比2021年迄今为止吸引的所有资金多45%<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>，全球资产排名第一的ETF管理人。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d38df5be26f49e34b5860d86719b885d\" tg-width=\"483\" tg-height=\"769\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Two broad, inexpensive stock-market funds run by Vanguard garnered the most interest from investors. Vanguard’s 500 Index Fund and Total Stock Market Index Fund pulled in $32.3 billion and $23.4 billion so far this year. Of the top 10 funds by inflows in 2021, Vanguard managed six, while BlackRock’s iShares ETF unit oversaw the other four.</p><p><blockquote>先锋集团运营的两只广泛且廉价的股市基金最吸引了投资者的兴趣。今年迄今为止，Vanguard的500指数基金和Total Stock Market指数基金分别筹集了323亿美元和234亿美元。在2021年流入量排名前10的基金中，Vanguard管理着6只，而贝莱德的iShares ETF部门则监管着另外4只。</blockquote></p><p> Since asset managers got regulatory&nbsp;approval in 2019 to run stock-picking ETFs that also shield their daily holdings, Fidelity Investments,&nbsp;<a href=\"https://laohu8.com/S/TROW\">T. Rowe Price</a>,&nbsp;Putnam Investments and others&nbsp;have launched actively managed funds. These are similar to some of their mutual-fund strategies, yet more accessible and usually cheaper for individual investors. Others such as Guinness Atkinson Funds and Dimensional Fund Advisors have opted to convert some mutual funds into ETFs.</p><p><blockquote>自2019年资产管理公司获得监管机构批准运营选股ETF以来，富达投资(Fidelity Investments)，<a href=\"https://laohu8.com/S/TROW\">T·罗·普莱斯</a>、Putnam Investments等纷纷推出主动管理型基金。这些策略类似于他们的一些共同基金策略，但对于个人投资者来说更容易获得，而且通常更便宜。Guinness Atkinson Funds和Dimensional Fund Advisors等其他公司则选择将一些共同基金转换为ETF。</blockquote></p><p> JPMorgan Chase &amp; Co. has launched some actively managed ETFs, including its Equity Premium Income fund last year, which has pulled in $2.4 billion from investors so far in 2021. The banking giant said Wednesday that it plans to convert four active mutual funds managing some $10 billion in assets into ETFs in 2022 pending approval from their boards.</p><p><blockquote>摩根大通推出了一些主动管理型ETF，包括去年的股票溢价收入基金，该基金在2021年迄今已从投资者那里筹集了24亿美元。这家银行业巨头周三表示，计划在2022年将管理约100亿美元资产的四只主动型共同基金转换为ETF，等待董事会批准。</blockquote></p><p> Active ETFs still represent a small but growing segment of the overall ETF market. Nonindexed ETFs, including those that actively pick stocks, carried $358 billion in assets as of July, about 4% of the overall ETF market, according to Morningstar’s data. That was up from $193 billion a year ago.</p><p><blockquote>主动型ETF在整个ETF市场中仍占一小部分但不断增长的部分。根据晨星公司的数据，截至7月份，非指数ETF（包括那些积极选股的ETF）持有3580亿美元的资产，约占整个ETF市场的4%。这高于一年前的1930亿美元。</blockquote></p><p> ETFs come with some risks, however. Narrow, thematic funds can&nbsp;concentrate billions of dollars in assets in a small roster of companies, making them potentially susceptible to a liquidity crunch in volatile markets, some analysts say. ETFs that track indexes, meanwhile, have the potential to fall out of step with benchmarks, which is known as tracking error.</p><p><blockquote>然而，ETF也存在一些风险。一些分析师表示，狭隘的主题基金可以将数十亿美元的资产集中在少数公司中，使它们在动荡的市场中可能容易受到流动性紧缩的影响。与此同时，跟踪指数的ETF有可能与基准不同步，这就是所谓的跟踪误差。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7685b345aab8aeb01f2056972dc2bccf\" tg-width=\"392\" tg-height=\"758\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> With stocks hitting records, some expect more growth ahead. In the U.S. alone, Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors, predicts inflows for all of 2021 could reach nearly $800 billion—more than what has flowed into U.S. mutual funds in the past nine years combined.</p><p><blockquote>随着股市创下历史新高，一些人预计未来将出现更多增长。道富环球投资顾问公司SPDR美洲研究主管马特·巴托里尼(Matt Bartolini)预测，仅在美国，2021年全年的资金流入就可能达到近8000亿美元，超过过去九年流入美国共同基金的资金总和。</blockquote></p><p> “With such dazzling flow totals in a short period of time, it begs the question of how high flows could get in 2021,” said Mr. Bartolini. “Particularly if ETFs can make it into the four commas club.”</p><p><blockquote>巴托里尼先生表示：“短时间内的总流量如此令人眼花缭乱，这就引出了一个问题：2021年的流量会达到多高。”“特别是如果ETF能够进入四逗号俱乐部的话。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Global ETF Assets Hit $9 Trillion<blockquote>全球ETF资产达9万亿美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGlobal ETF Assets Hit $9 Trillion<blockquote>全球ETF资产达9万亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-08-13 11:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020.</i></p><p><blockquote><i>今年迄今为止的净流量几乎超过了2020年全年全球投资者转入ETF的7,365亿美元。</i></blockquote></p><p> Investors poured $705 billion into exchange-traded funds through the first seven months of the year, pushing 2021’s world-wide tally to a record $9.1 trillion, according to data from Morningstar Inc.</p><p><blockquote>晨星公司的数据显示，今年前7个月，投资者向交易所交易基金投入了7050亿美元，使2021年全球基金总额达到创纪录的9.1万亿美元。</blockquote></p><p> Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020. Most of the cash has gone into cheap, index-tracking funds, with large-cap and short-term bond ETFs, as well as products offering inflation protection, attracting significant investor interest, according to the data.</p><p><blockquote>今年迄今为止的净流量几乎超过了2020年全年全球投资者转入ETF的7,365亿美元。数据显示，大部分现金都流入了廉价的指数跟踪基金，包括大盘股和短期债券ETF，以及提供通胀保护的产品，吸引了投资者的浓厚兴趣。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/410f9d2305d06d2c68e0d7c714f34841\" tg-width=\"483\" tg-height=\"656\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> U.S. ETFs accounted for a record $519 billion of the total, sending assets in U.S. funds to about $6.6 trillion. ETFs now hold more money than index-tracking mutual funds, which had about $8.8 trillion in assets as of June, though mutual funds overall still command more money, with about $40.7 trillion in assets.</p><p><blockquote>美国ETF占总额的5190亿美元，创历史新高，使美国基金的资产达到约6.6万亿美元。ETF现在持有的资金超过了指数跟踪共同基金，截至6月份，共同基金的资产约为8.8万亿美元，尽管共同基金总体上仍然控制着更多的资金，资产约为40.7万亿美元。</blockquote></p><p> ETFs are baskets of securities that are as easy to trade as a stock. They lack the investment minimums found in many mutual funds, are generally more tax efficient and carry lower fees. The success of ETFs was far from guaranteed after the first one launched in 1993. But enthusiasm for low-cost investments has led to an explosion in ETF assets over the past 10 years.</p><p><blockquote>ETF是一篮子证券，像股票一样易于交易。它们缺乏许多共同基金中的最低投资标准，通常税收效率更高，费用也更低。自1993年推出第一只ETF以来，ETF的成功远未得到保证。但对低成本投资的热情导致了过去10年ETF资产的爆炸式增长。</blockquote></p><p> “ETFs are probably the greatest success story in financial services over the last two decades,” said Anaelle Ubaldino, head of ETF research and investment advisory at data firm TrackInsight, which also tracked ETFs crossing the $9 trillion mark last month.</p><p><blockquote>数据公司TrackInsight的ETF研究和投资咨询主管Anaelle Ubaldino表示：“ETF可能是过去二十年来金融服务业最成功的故事。”该公司上个月也追踪了ETF突破9万亿美元大关的情况。</blockquote></p><p> Vanguard Group has been the biggest draw this year, with its ETFs pulling in nearly $224 billion through the first seven months of 2021. That is 45% more than all the money attracted so far in 2021 by&nbsp;<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>,&nbsp;the world’s No. 1 ETF manager by assets.</p><p><blockquote>先锋集团是今年最大的吸引力，其ETF在2021年前7个月吸引了近2240亿美元。这比2021年迄今为止吸引的所有资金多45%<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>，全球资产排名第一的ETF管理人。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d38df5be26f49e34b5860d86719b885d\" tg-width=\"483\" tg-height=\"769\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Two broad, inexpensive stock-market funds run by Vanguard garnered the most interest from investors. Vanguard’s 500 Index Fund and Total Stock Market Index Fund pulled in $32.3 billion and $23.4 billion so far this year. Of the top 10 funds by inflows in 2021, Vanguard managed six, while BlackRock’s iShares ETF unit oversaw the other four.</p><p><blockquote>先锋集团运营的两只广泛且廉价的股市基金最吸引了投资者的兴趣。今年迄今为止，Vanguard的500指数基金和Total Stock Market指数基金分别筹集了323亿美元和234亿美元。在2021年流入量排名前10的基金中，Vanguard管理着6只，而贝莱德的iShares ETF部门则监管着另外4只。</blockquote></p><p> Since asset managers got regulatory&nbsp;approval in 2019 to run stock-picking ETFs that also shield their daily holdings, Fidelity Investments,&nbsp;<a href=\"https://laohu8.com/S/TROW\">T. Rowe Price</a>,&nbsp;Putnam Investments and others&nbsp;have launched actively managed funds. These are similar to some of their mutual-fund strategies, yet more accessible and usually cheaper for individual investors. Others such as Guinness Atkinson Funds and Dimensional Fund Advisors have opted to convert some mutual funds into ETFs.</p><p><blockquote>自2019年资产管理公司获得监管机构批准运营选股ETF以来，富达投资(Fidelity Investments)，<a href=\"https://laohu8.com/S/TROW\">T·罗·普莱斯</a>、Putnam Investments等纷纷推出主动管理型基金。这些策略类似于他们的一些共同基金策略，但对于个人投资者来说更容易获得，而且通常更便宜。Guinness Atkinson Funds和Dimensional Fund Advisors等其他公司则选择将一些共同基金转换为ETF。</blockquote></p><p> JPMorgan Chase &amp; Co. has launched some actively managed ETFs, including its Equity Premium Income fund last year, which has pulled in $2.4 billion from investors so far in 2021. The banking giant said Wednesday that it plans to convert four active mutual funds managing some $10 billion in assets into ETFs in 2022 pending approval from their boards.</p><p><blockquote>摩根大通推出了一些主动管理型ETF，包括去年的股票溢价收入基金，该基金在2021年迄今已从投资者那里筹集了24亿美元。这家银行业巨头周三表示，计划在2022年将管理约100亿美元资产的四只主动型共同基金转换为ETF，等待董事会批准。</blockquote></p><p> Active ETFs still represent a small but growing segment of the overall ETF market. Nonindexed ETFs, including those that actively pick stocks, carried $358 billion in assets as of July, about 4% of the overall ETF market, according to Morningstar’s data. That was up from $193 billion a year ago.</p><p><blockquote>主动型ETF在整个ETF市场中仍占一小部分但不断增长的部分。根据晨星公司的数据，截至7月份，非指数ETF（包括那些积极选股的ETF）持有3580亿美元的资产，约占整个ETF市场的4%。这高于一年前的1930亿美元。</blockquote></p><p> ETFs come with some risks, however. Narrow, thematic funds can&nbsp;concentrate billions of dollars in assets in a small roster of companies, making them potentially susceptible to a liquidity crunch in volatile markets, some analysts say. ETFs that track indexes, meanwhile, have the potential to fall out of step with benchmarks, which is known as tracking error.</p><p><blockquote>然而，ETF也存在一些风险。一些分析师表示，狭隘的主题基金可以将数十亿美元的资产集中在少数公司中，使它们在动荡的市场中可能容易受到流动性紧缩的影响。与此同时，跟踪指数的ETF有可能与基准不同步，这就是所谓的跟踪误差。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7685b345aab8aeb01f2056972dc2bccf\" tg-width=\"392\" tg-height=\"758\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> With stocks hitting records, some expect more growth ahead. In the U.S. alone, Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors, predicts inflows for all of 2021 could reach nearly $800 billion—more than what has flowed into U.S. mutual funds in the past nine years combined.</p><p><blockquote>随着股市创下历史新高，一些人预计未来将出现更多增长。道富环球投资顾问公司SPDR美洲研究主管马特·巴托里尼(Matt Bartolini)预测，仅在美国，2021年全年的资金流入就可能达到近8000亿美元，超过过去九年流入美国共同基金的资金总和。</blockquote></p><p> “With such dazzling flow totals in a short period of time, it begs the question of how high flows could get in 2021,” said Mr. Bartolini. “Particularly if ETFs can make it into the four commas club.”</p><p><blockquote>巴托里尼先生表示：“短时间内的总流量如此令人眼花缭乱，这就引出了一个问题：2021年的流量会达到多高。”“特别是如果ETF能够进入四逗号俱乐部的话。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/global-etf-assets-hit-9-trillion-11628769548?mod=markets_lead_pos6\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FIGB":"Fidelity Investment Grade Bond ETF","BLK":"贝莱德","TROW":"普信集团"},"source_url":"https://www.wsj.com/articles/global-etf-assets-hit-9-trillion-11628769548?mod=markets_lead_pos6","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159917110","content_text":"Net flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020.\nInvestors poured $705 billion into exchange-traded funds through the first seven months of the year, pushing 2021’s world-wide tally to a record $9.1 trillion, according to data from Morningstar Inc.\nNet flows so far this year have nearly eclipsed the $736.5 billion investors had moved into ETFs globally in all of 2020. Most of the cash has gone into cheap, index-tracking funds, with large-cap and short-term bond ETFs, as well as products offering inflation protection, attracting significant investor interest, according to the data.\n\nU.S. ETFs accounted for a record $519 billion of the total, sending assets in U.S. funds to about $6.6 trillion. ETFs now hold more money than index-tracking mutual funds, which had about $8.8 trillion in assets as of June, though mutual funds overall still command more money, with about $40.7 trillion in assets.\nETFs are baskets of securities that are as easy to trade as a stock. They lack the investment minimums found in many mutual funds, are generally more tax efficient and carry lower fees. The success of ETFs was far from guaranteed after the first one launched in 1993. But enthusiasm for low-cost investments has led to an explosion in ETF assets over the past 10 years.\n“ETFs are probably the greatest success story in financial services over the last two decades,” said Anaelle Ubaldino, head of ETF research and investment advisory at data firm TrackInsight, which also tracked ETFs crossing the $9 trillion mark last month.\nVanguard Group has been the biggest draw this year, with its ETFs pulling in nearly $224 billion through the first seven months of 2021. That is 45% more than all the money attracted so far in 2021 by BlackRock, the world’s No. 1 ETF manager by assets.\n\nTwo broad, inexpensive stock-market funds run by Vanguard garnered the most interest from investors. Vanguard’s 500 Index Fund and Total Stock Market Index Fund pulled in $32.3 billion and $23.4 billion so far this year. Of the top 10 funds by inflows in 2021, Vanguard managed six, while BlackRock’s iShares ETF unit oversaw the other four.\nSince asset managers got regulatory approval in 2019 to run stock-picking ETFs that also shield their daily holdings, Fidelity Investments, T. Rowe Price, Putnam Investments and others have launched actively managed funds. These are similar to some of their mutual-fund strategies, yet more accessible and usually cheaper for individual investors. Others such as Guinness Atkinson Funds and Dimensional Fund Advisors have opted to convert some mutual funds into ETFs.\nJPMorgan Chase & Co. has launched some actively managed ETFs, including its Equity Premium Income fund last year, which has pulled in $2.4 billion from investors so far in 2021. The banking giant said Wednesday that it plans to convert four active mutual funds managing some $10 billion in assets into ETFs in 2022 pending approval from their boards.\nActive ETFs still represent a small but growing segment of the overall ETF market. Nonindexed ETFs, including those that actively pick stocks, carried $358 billion in assets as of July, about 4% of the overall ETF market, according to Morningstar’s data. That was up from $193 billion a year ago.\nETFs come with some risks, however. Narrow, thematic funds can concentrate billions of dollars in assets in a small roster of companies, making them potentially susceptible to a liquidity crunch in volatile markets, some analysts say. ETFs that track indexes, meanwhile, have the potential to fall out of step with benchmarks, which is known as tracking error.\n\nWith stocks hitting records, some expect more growth ahead. In the U.S. alone, Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors, predicts inflows for all of 2021 could reach nearly $800 billion—more than what has flowed into U.S. mutual funds in the past nine years combined.\n“With such dazzling flow totals in a short period of time, it begs the question of how high flows could get in 2021,” said Mr. Bartolini. “Particularly if ETFs can make it into the four commas club.”","news_type":1,"symbols_score_info":{"TROW":0.9,"FIGB":0.9,"BLK":0.9}},"isVote":1,"tweetType":1,"viewCount":1323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888342450,"gmtCreate":1631445920470,"gmtModify":1631888738655,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090707232019850","idStr":"4090707232019850"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/888342450","repostId":"881007335","repostType":1,"repost":{"id":881007335,"gmtCreate":1631279459027,"gmtModify":1747206643217,"author":{"id":"3557224745692662","authorId":"3557224745692662","name":"至简量化","avatar":"https://static.tigerbbs.com/f0c1a2d371c05daf7eafaa99003bcaa4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557224745692662","idStr":"3557224745692662"},"themes":[],"title":"A股每日量化--市场是最好的老师","htmlText":"1.整体情况今天市场开盘就在金融大蓝筹的带动下冲破3700点，随后杀了个回马枪，恐慌情绪还没来得及发酵，市场又再次拉升，最终收盘在3700点以上，其他各大指数也全部翻红。今天是教师节，有人说市场是最好的老师，那我想投诉这位老师的教学方式过于粗暴，喜欢来回抽人耳光。到收盘上证指数涨0.27%，深证成指涨0.50%，创业板指涨0.31%。上证50涨1.50%、沪深300涨0.88%、中证500跌0.13%，科创50涨1.76%，各大指数全线上涨，个股却跌多涨少。其中，涨停69家，跌停只有3家，市场分化严重。两市成交额1.5万亿以上,继续维持高位。2.涨跌数据分析本日沪深300成分股一年来价格创新高7个，创新低1个，新高新低差6；中证500成分股一年来价格新高29个，新低2个，新高新低差27；创业板一年创新高2个，创新低1个，新高新低差1。三个指数与新高新低数步调基本一致，没有明显的背离。指数与新高新低线本日沪深300成分股上涨170个，下跌125个；中证500成分股上涨172个，下跌312个；创业板上涨50个，下跌50个。三个指数与新高新低数步调基本一致，没有明显的背离。指数与腾落线3.流动性分析Shibor 1M较昨日上升0.1个BP，shibor 1M重新向布林带中线靠拢，同时shibor 1M 5日EMA均线上升，根据我们择时量化模型，流动性有收紧趋势，注意控制仓位。今天卖掉了根据这个指标买入的创业板50ETF。2021年Shibor 1M与沪深300走势2021年Shibor 1M与boll通道（红色为当日数据，蓝色为通道上边界）4.北上资金情况今日北上资金净流入36亿以上，态度没有变化，非常积极。每日北上资金流入情况5.行业热度分析今日市场还是呈现轮动特征，昨日强势的煤炭、电力、钢铁等领跌；而此前调整的芯片、光伏、食品等展开反攻。从行业热度看，最热的还是有色金属和电气","listText":"1.整体情况今天市场开盘就在金融大蓝筹的带动下冲破3700点，随后杀了个回马枪，恐慌情绪还没来得及发酵，市场又再次拉升，最终收盘在3700点以上，其他各大指数也全部翻红。今天是教师节，有人说市场是最好的老师，那我想投诉这位老师的教学方式过于粗暴，喜欢来回抽人耳光。到收盘上证指数涨0.27%，深证成指涨0.50%，创业板指涨0.31%。上证50涨1.50%、沪深300涨0.88%、中证500跌0.13%，科创50涨1.76%，各大指数全线上涨，个股却跌多涨少。其中，涨停69家，跌停只有3家，市场分化严重。两市成交额1.5万亿以上,继续维持高位。2.涨跌数据分析本日沪深300成分股一年来价格创新高7个，创新低1个，新高新低差6；中证500成分股一年来价格新高29个，新低2个，新高新低差27；创业板一年创新高2个，创新低1个，新高新低差1。三个指数与新高新低数步调基本一致，没有明显的背离。指数与新高新低线本日沪深300成分股上涨170个，下跌125个；中证500成分股上涨172个，下跌312个；创业板上涨50个，下跌50个。三个指数与新高新低数步调基本一致，没有明显的背离。指数与腾落线3.流动性分析Shibor 1M较昨日上升0.1个BP，shibor 1M重新向布林带中线靠拢，同时shibor 1M 5日EMA均线上升，根据我们择时量化模型，流动性有收紧趋势，注意控制仓位。今天卖掉了根据这个指标买入的创业板50ETF。2021年Shibor 1M与沪深300走势2021年Shibor 1M与boll通道（红色为当日数据，蓝色为通道上边界）4.北上资金情况今日北上资金净流入36亿以上，态度没有变化，非常积极。每日北上资金流入情况5.行业热度分析今日市场还是呈现轮动特征，昨日强势的煤炭、电力、钢铁等领跌；而此前调整的芯片、光伏、食品等展开反攻。从行业热度看，最热的还是有色金属和电气","text":"1.整体情况今天市场开盘就在金融大蓝筹的带动下冲破3700点，随后杀了个回马枪，恐慌情绪还没来得及发酵，市场又再次拉升，最终收盘在3700点以上，其他各大指数也全部翻红。今天是教师节，有人说市场是最好的老师，那我想投诉这位老师的教学方式过于粗暴，喜欢来回抽人耳光。到收盘上证指数涨0.27%，深证成指涨0.50%，创业板指涨0.31%。上证50涨1.50%、沪深300涨0.88%、中证500跌0.13%，科创50涨1.76%，各大指数全线上涨，个股却跌多涨少。其中，涨停69家，跌停只有3家，市场分化严重。两市成交额1.5万亿以上,继续维持高位。2.涨跌数据分析本日沪深300成分股一年来价格创新高7个，创新低1个，新高新低差6；中证500成分股一年来价格新高29个，新低2个，新高新低差27；创业板一年创新高2个，创新低1个，新高新低差1。三个指数与新高新低数步调基本一致，没有明显的背离。指数与新高新低线本日沪深300成分股上涨170个，下跌125个；中证500成分股上涨172个，下跌312个；创业板上涨50个，下跌50个。三个指数与新高新低数步调基本一致，没有明显的背离。指数与腾落线3.流动性分析Shibor 1M较昨日上升0.1个BP，shibor 1M重新向布林带中线靠拢，同时shibor 1M 5日EMA均线上升，根据我们择时量化模型，流动性有收紧趋势，注意控制仓位。今天卖掉了根据这个指标买入的创业板50ETF。2021年Shibor 1M与沪深300走势2021年Shibor 1M与boll通道（红色为当日数据，蓝色为通道上边界）4.北上资金情况今日北上资金净流入36亿以上，态度没有变化，非常积极。每日北上资金流入情况5.行业热度分析今日市场还是呈现轮动特征，昨日强势的煤炭、电力、钢铁等领跌；而此前调整的芯片、光伏、食品等展开反攻。从行业热度看，最热的还是有色金属和电气","images":[{"img":"https://static.tigerbbs.com/e8cd02f62c0863958bc49675b474b801","width":"553","height":"230"},{"img":"https://static.tigerbbs.com/1da8e6b6ef73a4851d9730f9d6d85d20","width":"553","height":"322"},{"img":"https://static.tigerbbs.com/f9800d314451600484f5d3f8ce9fc97b","width":"688","height":"575"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/881007335","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":8,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807404384,"gmtCreate":1628047461148,"gmtModify":1631888738637,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090707232019850","idStr":"4090707232019850"},"themes":[],"htmlText":"Poggu","listText":"Poggu","text":"Poggu","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807404384","repostId":"1122614377","repostType":4,"repost":{"id":"1122614377","kind":"news","pubTimestamp":1628047303,"share":"https://www.laohu8.com/m/news/1122614377?lang=zh_CN&edition=full","pubTime":"2021-08-04 11:21","market":"us","language":"en","title":"7 Dividend Growth Stocks For August 2021<blockquote>2021年8月7只股息增长股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122614377","media":"TheStreet","summary":"These companies are delivering exceptional earnings and dividend growth, and their stocks are tradin","content":"<p>These companies are delivering exceptional earnings and dividend growth, and their stocks are trading at reasonable valuations.</p><p><blockquote>这些公司实现了卓越的盈利和股息增长，并且其股票的估值合理。</blockquote></p><p> Last month I started a new series that will rank selections ofDividend Radarstocks and present the seven top-ranked stocks for consideration. Dividend Radar tracks stocks trading on U.S. exchanges with dividend increase streaks of at least five years.</p><p><blockquote>上个月，我开始了一个新系列，将对股息雷达股票的选择进行排名，并提出排名靠前的七只股票供考虑。股息雷达跟踪在美国交易所交易的股息至少五年连续增加的股票。</blockquote></p><p> Each month, I’ll consider different screens to narrow down the more than 750 Dividend Radar stocks. Screens will focus on various aspects of dividend growth investing, such as dividend yield, dividend growth rate, and stock valuation.</p><p><blockquote>每个月，我都会考虑不同的屏幕来缩小750多只股息雷达股票的范围。屏幕将重点关注股息增长投资的各个方面，例如股息收益率、股息增长率和股票估值。</blockquote></p><p> This month, I screened for stocks of companies that have delivered exceptional earnings growth over the last ten years. Additionally, I screened for stocks trading at reasonable valuations and required a 5-year yield on cost (YoC) of at least 3%.</p><p><blockquote>本月，我筛选了过去十年中盈利增长异常的公司股票。此外，我筛选了估值合理的股票，并要求5年期成本收益率(YoC)至少为3%。</blockquote></p><p> <b>Screening and Ranking</b></p><p><blockquote><b>筛选和排名</b></blockquote></p><p> Earnings and earnings growth are the foundation of dividends and dividend growth. Companies could use debt to pay dividends, such as when earnings temporarily are insufficient to cover dividend payouts. Eventually, though, that debt will have to be repaid from earnings, which, presumably and hopefully, would be sufficient to pay off debt and pay the dividend.</p><p><blockquote>盈利和盈利增长是股息和股息增长的基础。公司可以利用债务来支付股息，例如当收益暂时不足以支付股息支付时。不过，最终，这笔债务将不得不从收益中偿还，这大概也有希望足以偿还债务和支付股息。</blockquote></p><p> Portfolio Insight&nbsp;provides earnings and earnings growth data that we can monitor to get a sense of a company’s ability to continue paying and increasing dividends. For this month’s article, I considered Non-GAAP EPS compound annual growth rates [CAGRs] for different time frames. Here’s the specific screening formula:</p><p><blockquote>Portfolio Insight提供盈利和盈利增长数据，我们可以监控这些数据，以了解公司继续支付和增加股息的能力。在本月的文章中，我考虑了不同时间范围内的非GAAP每股收益复合年增长率[CAGR]。下面是具体的筛选公式：</blockquote></p><p> <b>NG EPS 1Y ≥ 10% and NG EPS 3Y ≥ 10% and NG EPS 5Y ≥ 10% and NG EPS 10Y ≥ 10%</b></p><p><blockquote><b>NG EPS 1Y≥10%且NG EPS 3Y≥10%且NG EPS 5Y≥10%且NG EPS 10Y≥10%</b></blockquote></p><p> Additionally, I screened for stocks trading at reasonable valuations. What I mean by “reasonable” is based on my quality/valuation matrix, which gives preferential treatment to higher quality stocks. Essentially, I’m willing to pay a small premium for the highest quality stocks and I demand a larger discount for lower-quality stocks:</p><p><blockquote>此外，我还筛选了估值合理的股票。我所说的“合理”是基于我的质量/估值矩阵，该矩阵优先考虑更高质量的股票。本质上，我愿意为最高质量的股票支付少量溢价，并要求为较低质量的股票提供更大的折扣：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/70d7af9e75bd202d2d9cabb79d04964c\" tg-width=\"1068\" tg-height=\"417\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> I calculate&nbsp;<b>Buy Below</b>&nbsp;prices relative to my fair value [FV] estimates based on this quality/valuation matrix.</p><p><blockquote>我计算<b>在下面购买</b>相对于我基于此质量/估值矩阵的公允价值[FV]估计的价格。</blockquote></p><p> Finally, I screened for stocks with a&nbsp;5-year yield on cost[YoC] above 3%. This metric combines the forward yield and 5-year dividend growth rate [DGR] to determine what your dividend would be relative to today’s stock price after five years of investment, assuming the DGR is maintained.</p><p><blockquote>最后，我筛选了5年期成本收益率[YoC]高于3%的股票。该指标结合了远期收益率和5年股息增长率[DGR]，以确定投资五年后您的股息相对于当前股价的水平（假设DGR保持不变）。</blockquote></p><p> Here is a summary of this month’s screens in general terms:</p><p><blockquote>以下是本月屏幕的概括总结：</blockquote></p><p> <ol>  <li>Exceptional earnings for at least ten years</li>  <li>Reasonable current valuation</li>  <li>Reasonable future dividend income</li> </ol> The latest&nbsp;Dividend Radar(dated July 30, 2021) contains 762 stocks.</p><p><blockquote><ol><li>至少十年的非凡收益</li><li>合理的当前估值</li><li>合理的未来股息收入</li></ol>最新的股息雷达（日期为2021年7月30日）包含762只股票。</blockquote></p><p> Applying the first (fairly stringent) screen reduces the list to only 87 candidates. (Of these, only 20 pass the second screen and only 11 also survive the third screen).</p><p><blockquote>应用第一次（相当严格的）筛选将列表减少到只有87个候选人。（其中，只有20人通过了第二次筛选，只有11人通过了第三次筛选）。</blockquote></p><p> I ranked the candidates by sorting their quality scores (determined via&nbsp;DVK Quality Snapshots) in descending order and used the following metrics, in turn, to break ties:</p><p><blockquote>我通过按降序对候选人的质量分数（通过DVK质量快照确定）进行排序，并依次使用以下指标来打破平局：</blockquote></p><p> <ul>  <li>Simply Safe Dividends' Dividend Safety Scores</li>  <li><i>S&amp;P Credit Ratings</i></li>  <li>Dividend Yield</li> </ul> The tables below show the top seven stocks in rank-order.</p><p><blockquote><ul><li>Simply Safe股息的股息安全评分</li><li><i>标准普尔信用评级</i></li><li>股息率</li></ul>下表按排名顺序显示了排名前七的股票。</blockquote></p><p> <b>7 Top-Ranked Dividend Growth Stocks for August</b></p><p><blockquote><b>8月份股息增长排名靠前的7只股票</b></blockquote></p><p> Here are top-ranked dividend growth stocks that pass this month’s screens:</p><p><blockquote>以下是本月通过筛选的股息增长排名靠前的股票：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e74ac455b7df108e6e1de77ba837a01c\" tg-width=\"865\" tg-height=\"156\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> I own the six highlighted stocks in my&nbsp;DivGro portfolio.</p><p><blockquote>我拥有DivGro投资组合中突出显示的六只股票。</blockquote></p><p> Below, I provide a table with key metrics of interest to dividend growth investors, including the dividend increase streak (<b>Years</b>), the dividend&nbsp;<b>Yield</b>&nbsp;for a recent share&nbsp;<b>Price</b>, and the 5-year dividend growth rate (<b>5-Yr DGR</b>). The&nbsp;<i>Chowder Number</i>(<b>CDN</b>) and 5-year YoC (<b>5-Yr YoC</b>) are measures of a stock’s future total return and dividend income prospects, while the 5-year trailing total returns (<b>5-Yr TTR</b>) is a measure of the stock’s performance over the past five years.</p><p><blockquote>下面，我提供了一个表格，其中包含股息增长投资者感兴趣的关键指标，包括股息增长趋势（<b>年</b>），股息<b>产量</b>对于最近的分享<b>价格</b>，以及5年股息增长率(<b>5年DGR</b>).The<i>杂烩数</i>(<b>CDN</b>）和5年YoC（<b>5年YoC</b>）是衡量股票未来总回报和股息收入前景的指标，而5年追踪总回报（<b>5年TTR</b>）是衡量股票过去五年表现的指标。</blockquote></p><p> I also provide thefive quality indicatorsused in determining each stock's quality score (<b>Qual</b>), as well as my FV estimate (<b>Fair Value</b>) to help identify stocks that trade at favorable valuations. The discount/premium column (<b>–Disc/+Prem</b>) shows the discount or premium of a recent share price to my FV estimates. The last column shows my&nbsp;<b>Buy Below</b>&nbsp;price.</p><p><blockquote>我还提供了用于确定每只股票质量分数的五个质量指标（<b>哪个</b>），以及我的FV估计（<b>公允价值</b>）来帮助识别以有利估值交易的股票。折扣/溢价栏（<b>-盘/+Prem</b>）显示最近股价相对于我的FV估计的折扣或溢价。最后一列显示了我的<b>在下面购买</b>价格。</blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8f324d83432096c060b5f6c3d8160bb2\" tg-width=\"1240\" tg-height=\"357\" width=\"100%\" height=\"auto\"><span>Key metrics and fair value estimates of August’s Top 7 Dividend Growth Stocks (includes data sourced from Dividend Radar).</span></p><p><blockquote><p class=\"t-img-caption\"><span>8月份股息增长前7名股票的关键指标和公允价值估计（包括来自股息雷达的数据）。</span></p></blockquote></p><p> I use a survey approach to derive my FV estimates. I collect FV estimates and price targets from several sources, including Morningstar and Finbox. I also&nbsp;estimate fair valueusing each stock’s five-year average dividend yield. With several estimates and targets available, I ignore the outliers (the lowest and highest values) and use the average of the median and mean of the remaining values as my FV estimate.</p><p><blockquote>我使用调查方法来得出我的FV估计值。我从多个来源收集FV预估和价格目标，包括晨星和Finbox。我还使用每只股票的五年平均股息收益率来估计公允价值。有了几个可用的估计值和目标，我忽略离群值（最低值和最高值），并使用剩余值的中值和平均值的平均值作为我的FV估计值。</blockquote></p><p> Next, let's look at each stock in turn. All data and graphs are courtesy of&nbsp;Portfolio-Insight.com.</p><p><blockquote>接下来，我们依次看一下每只股票。所有数据和图表均由Portfolio-Insight.com提供。</blockquote></p><p> <b>The Home Depot, Inc (HD)</b></p><p><blockquote><b>家得宝公司(HD)</b></blockquote></p><p> Founded in 1978 and based in Atlanta, Georgia, HD is a home improvement retailer that sells an assortment of building materials, home improvement products, and lawn and garden products. HD provides installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers.</p><p><blockquote>HD成立于1978年，总部位于佐治亚州亚特兰大，是一家家居装修零售商，销售各种建筑材料、家居装修产品以及草坪和花园产品。HD为自己动手、为我动手和专业客户提供安装、家庭维护和专业服务计划。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6842eea771a305e92d0bb6d957bd57d2\" tg-width=\"1207\" tg-height=\"395\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c5f3ed296edb6ead77589b6d4b07cbe5\" tg-width=\"1240\" tg-height=\"547\" width=\"100%\" height=\"auto\"><span>HD non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>HD非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>Lockheed Martin Corporation (LMT)</b></p><p><blockquote><b>洛克希德马丁公司(LMT)</b></blockquote></p><p> Founded in 1909 and headquartered in Bethesda, Maryland, LMT is a global security and aerospace company engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems. LMT operates through four segments, Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.</p><p><blockquote>LMT成立于1909年，总部位于马里兰州贝塞斯达，是一家全球安全和航空航天公司，从事先进技术系统的研究、设计、开发、制造、集成和维护。LMT通过四个部门运营：航空、导弹和火控、旋转和任务系统以及空间系统。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/359b23f2763ac619280d013761595377\" tg-width=\"1211\" tg-height=\"400\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/47748a713424d38d792d7a3f143cd43e\" tg-width=\"1240\" tg-height=\"544\" width=\"100%\" height=\"auto\"><span>LMT non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>LMT非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>BlackRock, Inc. (BLK)</b></p><p><blockquote><b>贝莱德公司(BLK)</b></blockquote></p><p> BLK is an investment management company that provides a range of investment and risk management services to institutional and retail clients across the world. The company’s offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BLK was founded in 1988 and is based in New York City.</p><p><blockquote>BLK是一家投资管理公司，为全球机构和零售客户提供一系列投资和风险管理服务。该公司的产品包括投资于股票、固定收益、另类投资和货币市场工具的单一和多资产类别投资组合。BLK成立于1988年，总部位于纽约市。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3c563eda1121ff8577ac7143aa5dce6b\" tg-width=\"1211\" tg-height=\"397\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/35801c7a805cdb486138d656804ecff2\" tg-width=\"1240\" tg-height=\"547\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>Lowe's Companies, Inc. (LOW)</b></p><p><blockquote><b>劳氏公司(LOW)</b></blockquote></p><p> LOW is a home improvement retailer. The company offers a complete line of products for maintenance, repair, remodeling, and home decorating. It also offers installation services through independent contractors, as well as extended protection plans and repair services. LOW was founded in 1946 and is based in Mooresville, North Carolina.</p><p><blockquote>LOW是一家家装零售商。该公司为维护、修理、改造和家居装饰提供完整的产品系列。它还通过独立承包商提供安装服务，以及扩展保护计划和维修服务。LOW成立于1946年，总部位于北卡罗来纳州穆尔斯维尔。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/fac3795d1f098c20a7134b2ba6385f26\" tg-width=\"1214\" tg-height=\"401\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf243f7d5e513612959d20eac51de310\" tg-width=\"1240\" tg-height=\"552\" width=\"100%\" height=\"auto\"><span>LOW non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>非GAAP每股收益和支付股息(TTM)较低，股价重叠</span></p></blockquote></p><p> <b>Northrop Grumman Corporation (NOC)</b></p><p><blockquote><b>诺斯罗普·格鲁曼公司(NOC)</b></blockquote></p><p> Founded in 1939 and based in Falls Church, Virginia, NOC is a leading global security company with both government and commercial customers. NOC provides systems, products, and solutions in unmanned systems; cyber security; command, control, communications and computers intelligence; surveillance and reconnaissance; and logistics and modernization.</p><p><blockquote>NOC成立于1939年，总部位于弗吉尼亚州福尔斯彻奇，是一家全球领先的安全公司，拥有政府和商业客户。NOC提供无人系统中的系统、产品和解决方案；网络安全；指挥、控制、通信和计算机情报；监视和侦察；以及物流和现代化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8d3c9d83f1ce89ce88fbc4db0563e90c\" tg-width=\"1210\" tg-height=\"399\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ed575536c4cdb7b3eefe171a50640922\" tg-width=\"1240\" tg-height=\"546\" width=\"100%\" height=\"auto\"><span>NOC non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>NOC非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>The Allstate Corporation (ALL)</b></p><p><blockquote><b>好事达公司(ALL)</b></blockquote></p><p> Founded in 1931 and headquartered in Northbrook, Illinois, ALL is a holding company engaged in property-liability insurance and life insurance in the United States and Canada. The company sells insurance products covering automobiles, homes, and other properties under the Allstate, Esurance, and Encompass brand names. It also sells life insurance and voluntary accident and health insurance products.</p><p><blockquote>ALL成立于1931年，总部位于伊利诺伊州诺斯布鲁克，是一家在美国和加拿大从事财产责任保险和人寿保险的控股公司。该公司以Allstate、Esurance和Encompass品牌销售涵盖汽车、房屋和其他财产的保险产品。它还销售人寿保险以及自愿意外和健康保险产品。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/2d9e2dcf663b98cc621720a0351a3cf9\" tg-width=\"1212\" tg-height=\"398\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c8d93c9b392e2af4424e59a71fe1333c\" tg-width=\"1240\" tg-height=\"551\" width=\"100%\" height=\"auto\"><span>ALL non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>所有非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>L3Harris Technologies, Inc. (LHX)</b></p><p><blockquote><b>L3哈里斯技术公司(LHX)</b></blockquote></p><p> LHX, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company operates in four segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. LHX was founded in 1895 and is headquartered in Melbourne, Florida.</p><p><blockquote>LHX是一家航空航天和国防技术公司，为全球政府和商业客户提供关键任务解决方案。该公司分为四个部门：综合任务系统、太空和机载系统、通信系统和航空系统。LHX成立于1895年，总部位于佛罗里达州墨尔本。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5231f6010e48ff033da34b6f76ed3e2b\" tg-width=\"1212\" tg-height=\"400\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/182d5456cf84b655db04ad703cc681d4\" tg-width=\"1240\" tg-height=\"552\" width=\"100%\" height=\"auto\"><span>LHX non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>LHX非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>Concluding Remarks</b></p><p><blockquote><b>结束语</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/fbb1e63ebd49ef16583c3992662d1c4f\" tg-width=\"1240\" tg-height=\"359\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> In this article, I ranked reasonably valued dividend growth stocks in Dividend Radar that have maintained Non-GAAP EPS growth rates of at least 10% for the past ten years. I also required a 5-year YoC of at least 3%.</p><p><blockquote>在本文中，我对股息雷达中估值合理的股息增长股票进行了排名，这些股票在过去十年中保持了至少10%的非GAAP每股收益增长率。我还要求5年期YoC至少为3%。</blockquote></p><p> I own six of this month’s stocks. With the exception of my ALL position, my positions are all full-sized positions as determined by my dynamic and flexible&nbsp;portfolio target weighting&nbsp;strategy. ALL is underweight and I would need to add about 75 shares to make if a full-sized position. Given ALL’s 18% discount, it appears to be a good time to do so!</p><p><blockquote>我持有本月的六只股票。除了我的ALL头寸外，我的头寸都是由我的动态灵活的投资组合目标权重策略决定的全尺寸头寸。全部都是跑输大盘，我需要增加大约75股才能建立全仓头寸。鉴于所有的18%折扣，这似乎是一个很好的时机！</blockquote></p><p> I don’t own LHX and it looks like an interesting candidate to consider, though I prefer to open new positions when they offer 5-Year YoC’s of at least 4%. Nevertheless, LHX have impressive growth prospects and a low payout ratio, so I’m going to spend some time researching the stock.</p><p><blockquote>我不拥有LHX，它看起来是一个值得考虑的有趣候选人，尽管我更喜欢在他们提供至少4%的5年期YoC时开设新头寸。尽管如此，LHX具有令人印象深刻的增长前景和较低的派息率，因此我将花一些时间研究该股票。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>7 Dividend Growth Stocks For August 2021<blockquote>2021年8月7只股息增长股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n7 Dividend Growth Stocks For August 2021<blockquote>2021年8月7只股息增长股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-08-04 11:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>These companies are delivering exceptional earnings and dividend growth, and their stocks are trading at reasonable valuations.</p><p><blockquote>这些公司实现了卓越的盈利和股息增长，并且其股票的估值合理。</blockquote></p><p> Last month I started a new series that will rank selections ofDividend Radarstocks and present the seven top-ranked stocks for consideration. Dividend Radar tracks stocks trading on U.S. exchanges with dividend increase streaks of at least five years.</p><p><blockquote>上个月，我开始了一个新系列，将对股息雷达股票的选择进行排名，并提出排名靠前的七只股票供考虑。股息雷达跟踪在美国交易所交易的股息至少五年连续增加的股票。</blockquote></p><p> Each month, I’ll consider different screens to narrow down the more than 750 Dividend Radar stocks. Screens will focus on various aspects of dividend growth investing, such as dividend yield, dividend growth rate, and stock valuation.</p><p><blockquote>每个月，我都会考虑不同的屏幕来缩小750多只股息雷达股票的范围。屏幕将重点关注股息增长投资的各个方面，例如股息收益率、股息增长率和股票估值。</blockquote></p><p> This month, I screened for stocks of companies that have delivered exceptional earnings growth over the last ten years. Additionally, I screened for stocks trading at reasonable valuations and required a 5-year yield on cost (YoC) of at least 3%.</p><p><blockquote>本月，我筛选了过去十年中盈利增长异常的公司股票。此外，我筛选了估值合理的股票，并要求5年期成本收益率(YoC)至少为3%。</blockquote></p><p> <b>Screening and Ranking</b></p><p><blockquote><b>筛选和排名</b></blockquote></p><p> Earnings and earnings growth are the foundation of dividends and dividend growth. Companies could use debt to pay dividends, such as when earnings temporarily are insufficient to cover dividend payouts. Eventually, though, that debt will have to be repaid from earnings, which, presumably and hopefully, would be sufficient to pay off debt and pay the dividend.</p><p><blockquote>盈利和盈利增长是股息和股息增长的基础。公司可以利用债务来支付股息，例如当收益暂时不足以支付股息支付时。不过，最终，这笔债务将不得不从收益中偿还，这大概也有希望足以偿还债务和支付股息。</blockquote></p><p> Portfolio Insight&nbsp;provides earnings and earnings growth data that we can monitor to get a sense of a company’s ability to continue paying and increasing dividends. For this month’s article, I considered Non-GAAP EPS compound annual growth rates [CAGRs] for different time frames. Here’s the specific screening formula:</p><p><blockquote>Portfolio Insight提供盈利和盈利增长数据，我们可以监控这些数据，以了解公司继续支付和增加股息的能力。在本月的文章中，我考虑了不同时间范围内的非GAAP每股收益复合年增长率[CAGR]。下面是具体的筛选公式：</blockquote></p><p> <b>NG EPS 1Y ≥ 10% and NG EPS 3Y ≥ 10% and NG EPS 5Y ≥ 10% and NG EPS 10Y ≥ 10%</b></p><p><blockquote><b>NG EPS 1Y≥10%且NG EPS 3Y≥10%且NG EPS 5Y≥10%且NG EPS 10Y≥10%</b></blockquote></p><p> Additionally, I screened for stocks trading at reasonable valuations. What I mean by “reasonable” is based on my quality/valuation matrix, which gives preferential treatment to higher quality stocks. Essentially, I’m willing to pay a small premium for the highest quality stocks and I demand a larger discount for lower-quality stocks:</p><p><blockquote>此外，我还筛选了估值合理的股票。我所说的“合理”是基于我的质量/估值矩阵，该矩阵优先考虑更高质量的股票。本质上，我愿意为最高质量的股票支付少量溢价，并要求为较低质量的股票提供更大的折扣：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/70d7af9e75bd202d2d9cabb79d04964c\" tg-width=\"1068\" tg-height=\"417\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> I calculate&nbsp;<b>Buy Below</b>&nbsp;prices relative to my fair value [FV] estimates based on this quality/valuation matrix.</p><p><blockquote>我计算<b>在下面购买</b>相对于我基于此质量/估值矩阵的公允价值[FV]估计的价格。</blockquote></p><p> Finally, I screened for stocks with a&nbsp;5-year yield on cost[YoC] above 3%. This metric combines the forward yield and 5-year dividend growth rate [DGR] to determine what your dividend would be relative to today’s stock price after five years of investment, assuming the DGR is maintained.</p><p><blockquote>最后，我筛选了5年期成本收益率[YoC]高于3%的股票。该指标结合了远期收益率和5年股息增长率[DGR]，以确定投资五年后您的股息相对于当前股价的水平（假设DGR保持不变）。</blockquote></p><p> Here is a summary of this month’s screens in general terms:</p><p><blockquote>以下是本月屏幕的概括总结：</blockquote></p><p> <ol>  <li>Exceptional earnings for at least ten years</li>  <li>Reasonable current valuation</li>  <li>Reasonable future dividend income</li> </ol> The latest&nbsp;Dividend Radar(dated July 30, 2021) contains 762 stocks.</p><p><blockquote><ol><li>至少十年的非凡收益</li><li>合理的当前估值</li><li>合理的未来股息收入</li></ol>最新的股息雷达（日期为2021年7月30日）包含762只股票。</blockquote></p><p> Applying the first (fairly stringent) screen reduces the list to only 87 candidates. (Of these, only 20 pass the second screen and only 11 also survive the third screen).</p><p><blockquote>应用第一次（相当严格的）筛选将列表减少到只有87个候选人。（其中，只有20人通过了第二次筛选，只有11人通过了第三次筛选）。</blockquote></p><p> I ranked the candidates by sorting their quality scores (determined via&nbsp;DVK Quality Snapshots) in descending order and used the following metrics, in turn, to break ties:</p><p><blockquote>我通过按降序对候选人的质量分数（通过DVK质量快照确定）进行排序，并依次使用以下指标来打破平局：</blockquote></p><p> <ul>  <li>Simply Safe Dividends' Dividend Safety Scores</li>  <li><i>S&amp;P Credit Ratings</i></li>  <li>Dividend Yield</li> </ul> The tables below show the top seven stocks in rank-order.</p><p><blockquote><ul><li>Simply Safe股息的股息安全评分</li><li><i>标准普尔信用评级</i></li><li>股息率</li></ul>下表按排名顺序显示了排名前七的股票。</blockquote></p><p> <b>7 Top-Ranked Dividend Growth Stocks for August</b></p><p><blockquote><b>8月份股息增长排名靠前的7只股票</b></blockquote></p><p> Here are top-ranked dividend growth stocks that pass this month’s screens:</p><p><blockquote>以下是本月通过筛选的股息增长排名靠前的股票：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e74ac455b7df108e6e1de77ba837a01c\" tg-width=\"865\" tg-height=\"156\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> I own the six highlighted stocks in my&nbsp;DivGro portfolio.</p><p><blockquote>我拥有DivGro投资组合中突出显示的六只股票。</blockquote></p><p> Below, I provide a table with key metrics of interest to dividend growth investors, including the dividend increase streak (<b>Years</b>), the dividend&nbsp;<b>Yield</b>&nbsp;for a recent share&nbsp;<b>Price</b>, and the 5-year dividend growth rate (<b>5-Yr DGR</b>). The&nbsp;<i>Chowder Number</i>(<b>CDN</b>) and 5-year YoC (<b>5-Yr YoC</b>) are measures of a stock’s future total return and dividend income prospects, while the 5-year trailing total returns (<b>5-Yr TTR</b>) is a measure of the stock’s performance over the past five years.</p><p><blockquote>下面，我提供了一个表格，其中包含股息增长投资者感兴趣的关键指标，包括股息增长趋势（<b>年</b>），股息<b>产量</b>对于最近的分享<b>价格</b>，以及5年股息增长率(<b>5年DGR</b>).The<i>杂烩数</i>(<b>CDN</b>）和5年YoC（<b>5年YoC</b>）是衡量股票未来总回报和股息收入前景的指标，而5年追踪总回报（<b>5年TTR</b>）是衡量股票过去五年表现的指标。</blockquote></p><p> I also provide thefive quality indicatorsused in determining each stock's quality score (<b>Qual</b>), as well as my FV estimate (<b>Fair Value</b>) to help identify stocks that trade at favorable valuations. The discount/premium column (<b>–Disc/+Prem</b>) shows the discount or premium of a recent share price to my FV estimates. The last column shows my&nbsp;<b>Buy Below</b>&nbsp;price.</p><p><blockquote>我还提供了用于确定每只股票质量分数的五个质量指标（<b>哪个</b>），以及我的FV估计（<b>公允价值</b>）来帮助识别以有利估值交易的股票。折扣/溢价栏（<b>-盘/+Prem</b>）显示最近股价相对于我的FV估计的折扣或溢价。最后一列显示了我的<b>在下面购买</b>价格。</blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8f324d83432096c060b5f6c3d8160bb2\" tg-width=\"1240\" tg-height=\"357\" width=\"100%\" height=\"auto\"><span>Key metrics and fair value estimates of August’s Top 7 Dividend Growth Stocks (includes data sourced from Dividend Radar).</span></p><p><blockquote><p class=\"t-img-caption\"><span>8月份股息增长前7名股票的关键指标和公允价值估计（包括来自股息雷达的数据）。</span></p></blockquote></p><p> I use a survey approach to derive my FV estimates. I collect FV estimates and price targets from several sources, including Morningstar and Finbox. I also&nbsp;estimate fair valueusing each stock’s five-year average dividend yield. With several estimates and targets available, I ignore the outliers (the lowest and highest values) and use the average of the median and mean of the remaining values as my FV estimate.</p><p><blockquote>我使用调查方法来得出我的FV估计值。我从多个来源收集FV预估和价格目标，包括晨星和Finbox。我还使用每只股票的五年平均股息收益率来估计公允价值。有了几个可用的估计值和目标，我忽略离群值（最低值和最高值），并使用剩余值的中值和平均值的平均值作为我的FV估计值。</blockquote></p><p> Next, let's look at each stock in turn. All data and graphs are courtesy of&nbsp;Portfolio-Insight.com.</p><p><blockquote>接下来，我们依次看一下每只股票。所有数据和图表均由Portfolio-Insight.com提供。</blockquote></p><p> <b>The Home Depot, Inc (HD)</b></p><p><blockquote><b>家得宝公司(HD)</b></blockquote></p><p> Founded in 1978 and based in Atlanta, Georgia, HD is a home improvement retailer that sells an assortment of building materials, home improvement products, and lawn and garden products. HD provides installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers.</p><p><blockquote>HD成立于1978年，总部位于佐治亚州亚特兰大，是一家家居装修零售商，销售各种建筑材料、家居装修产品以及草坪和花园产品。HD为自己动手、为我动手和专业客户提供安装、家庭维护和专业服务计划。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6842eea771a305e92d0bb6d957bd57d2\" tg-width=\"1207\" tg-height=\"395\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c5f3ed296edb6ead77589b6d4b07cbe5\" tg-width=\"1240\" tg-height=\"547\" width=\"100%\" height=\"auto\"><span>HD non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>HD非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>Lockheed Martin Corporation (LMT)</b></p><p><blockquote><b>洛克希德马丁公司(LMT)</b></blockquote></p><p> Founded in 1909 and headquartered in Bethesda, Maryland, LMT is a global security and aerospace company engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems. LMT operates through four segments, Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.</p><p><blockquote>LMT成立于1909年，总部位于马里兰州贝塞斯达，是一家全球安全和航空航天公司，从事先进技术系统的研究、设计、开发、制造、集成和维护。LMT通过四个部门运营：航空、导弹和火控、旋转和任务系统以及空间系统。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/359b23f2763ac619280d013761595377\" tg-width=\"1211\" tg-height=\"400\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/47748a713424d38d792d7a3f143cd43e\" tg-width=\"1240\" tg-height=\"544\" width=\"100%\" height=\"auto\"><span>LMT non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>LMT非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>BlackRock, Inc. (BLK)</b></p><p><blockquote><b>贝莱德公司(BLK)</b></blockquote></p><p> BLK is an investment management company that provides a range of investment and risk management services to institutional and retail clients across the world. The company’s offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BLK was founded in 1988 and is based in New York City.</p><p><blockquote>BLK是一家投资管理公司，为全球机构和零售客户提供一系列投资和风险管理服务。该公司的产品包括投资于股票、固定收益、另类投资和货币市场工具的单一和多资产类别投资组合。BLK成立于1988年，总部位于纽约市。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3c563eda1121ff8577ac7143aa5dce6b\" tg-width=\"1211\" tg-height=\"397\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/35801c7a805cdb486138d656804ecff2\" tg-width=\"1240\" tg-height=\"547\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>Lowe's Companies, Inc. (LOW)</b></p><p><blockquote><b>劳氏公司(LOW)</b></blockquote></p><p> LOW is a home improvement retailer. The company offers a complete line of products for maintenance, repair, remodeling, and home decorating. It also offers installation services through independent contractors, as well as extended protection plans and repair services. LOW was founded in 1946 and is based in Mooresville, North Carolina.</p><p><blockquote>LOW是一家家装零售商。该公司为维护、修理、改造和家居装饰提供完整的产品系列。它还通过独立承包商提供安装服务，以及扩展保护计划和维修服务。LOW成立于1946年，总部位于北卡罗来纳州穆尔斯维尔。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/fac3795d1f098c20a7134b2ba6385f26\" tg-width=\"1214\" tg-height=\"401\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf243f7d5e513612959d20eac51de310\" tg-width=\"1240\" tg-height=\"552\" width=\"100%\" height=\"auto\"><span>LOW non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>非GAAP每股收益和支付股息(TTM)较低，股价重叠</span></p></blockquote></p><p> <b>Northrop Grumman Corporation (NOC)</b></p><p><blockquote><b>诺斯罗普·格鲁曼公司(NOC)</b></blockquote></p><p> Founded in 1939 and based in Falls Church, Virginia, NOC is a leading global security company with both government and commercial customers. NOC provides systems, products, and solutions in unmanned systems; cyber security; command, control, communications and computers intelligence; surveillance and reconnaissance; and logistics and modernization.</p><p><blockquote>NOC成立于1939年，总部位于弗吉尼亚州福尔斯彻奇，是一家全球领先的安全公司，拥有政府和商业客户。NOC提供无人系统中的系统、产品和解决方案；网络安全；指挥、控制、通信和计算机情报；监视和侦察；以及物流和现代化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8d3c9d83f1ce89ce88fbc4db0563e90c\" tg-width=\"1210\" tg-height=\"399\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ed575536c4cdb7b3eefe171a50640922\" tg-width=\"1240\" tg-height=\"546\" width=\"100%\" height=\"auto\"><span>NOC non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>NOC非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>The Allstate Corporation (ALL)</b></p><p><blockquote><b>好事达公司(ALL)</b></blockquote></p><p> Founded in 1931 and headquartered in Northbrook, Illinois, ALL is a holding company engaged in property-liability insurance and life insurance in the United States and Canada. The company sells insurance products covering automobiles, homes, and other properties under the Allstate, Esurance, and Encompass brand names. It also sells life insurance and voluntary accident and health insurance products.</p><p><blockquote>ALL成立于1931年，总部位于伊利诺伊州诺斯布鲁克，是一家在美国和加拿大从事财产责任保险和人寿保险的控股公司。该公司以Allstate、Esurance和Encompass品牌销售涵盖汽车、房屋和其他财产的保险产品。它还销售人寿保险以及自愿意外和健康保险产品。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/2d9e2dcf663b98cc621720a0351a3cf9\" tg-width=\"1212\" tg-height=\"398\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c8d93c9b392e2af4424e59a71fe1333c\" tg-width=\"1240\" tg-height=\"551\" width=\"100%\" height=\"auto\"><span>ALL non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>所有非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>L3Harris Technologies, Inc. (LHX)</b></p><p><blockquote><b>L3哈里斯技术公司(LHX)</b></blockquote></p><p> LHX, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company operates in four segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. LHX was founded in 1895 and is headquartered in Melbourne, Florida.</p><p><blockquote>LHX是一家航空航天和国防技术公司，为全球政府和商业客户提供关键任务解决方案。该公司分为四个部门：综合任务系统、太空和机载系统、通信系统和航空系统。LHX成立于1895年，总部位于佛罗里达州墨尔本。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5231f6010e48ff033da34b6f76ed3e2b\" tg-width=\"1212\" tg-height=\"400\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/182d5456cf84b655db04ad703cc681d4\" tg-width=\"1240\" tg-height=\"552\" width=\"100%\" height=\"auto\"><span>LHX non-GAAP EPS and dividends paid (TTM), with stock price overlay</span></p><p><blockquote><p class=\"t-img-caption\"><span>LHX非GAAP每股收益和已付股息(TTM)，带股价叠加</span></p></blockquote></p><p> <b>Concluding Remarks</b></p><p><blockquote><b>结束语</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/fbb1e63ebd49ef16583c3992662d1c4f\" tg-width=\"1240\" tg-height=\"359\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> In this article, I ranked reasonably valued dividend growth stocks in Dividend Radar that have maintained Non-GAAP EPS growth rates of at least 10% for the past ten years. I also required a 5-year YoC of at least 3%.</p><p><blockquote>在本文中，我对股息雷达中估值合理的股息增长股票进行了排名，这些股票在过去十年中保持了至少10%的非GAAP每股收益增长率。我还要求5年期YoC至少为3%。</blockquote></p><p> I own six of this month’s stocks. With the exception of my ALL position, my positions are all full-sized positions as determined by my dynamic and flexible&nbsp;portfolio target weighting&nbsp;strategy. ALL is underweight and I would need to add about 75 shares to make if a full-sized position. Given ALL’s 18% discount, it appears to be a good time to do so!</p><p><blockquote>我持有本月的六只股票。除了我的ALL头寸外，我的头寸都是由我的动态灵活的投资组合目标权重策略决定的全尺寸头寸。全部都是跑输大盘，我需要增加大约75股才能建立全仓头寸。鉴于所有的18%折扣，这似乎是一个很好的时机！</blockquote></p><p> I don’t own LHX and it looks like an interesting candidate to consider, though I prefer to open new positions when they offer 5-Year YoC’s of at least 4%. Nevertheless, LHX have impressive growth prospects and a low payout ratio, so I’m going to spend some time researching the stock.</p><p><blockquote>我不拥有LHX，它看起来是一个值得考虑的有趣候选人，尽管我更喜欢在他们提供至少4%的5年期YoC时开设新头寸。尽管如此，LHX具有令人印象深刻的增长前景和较低的派息率，因此我将花一些时间研究该股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/dividendstrategists/dividend-ideas/7-dividend-growth-stocks-for-august-2021\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NOC":"诺斯罗普格鲁曼","BLK":"贝莱德","LHX":"L3Harris Technologies Inc","LOW":"劳氏","ALL":"好事达","LMT":"洛克希德马丁","HD":"家得宝"},"source_url":"https://www.thestreet.com/dividendstrategists/dividend-ideas/7-dividend-growth-stocks-for-august-2021","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122614377","content_text":"These companies are delivering exceptional earnings and dividend growth, and their stocks are trading at reasonable valuations.\nLast month I started a new series that will rank selections ofDividend Radarstocks and present the seven top-ranked stocks for consideration. Dividend Radar tracks stocks trading on U.S. exchanges with dividend increase streaks of at least five years.\nEach month, I’ll consider different screens to narrow down the more than 750 Dividend Radar stocks. Screens will focus on various aspects of dividend growth investing, such as dividend yield, dividend growth rate, and stock valuation.\nThis month, I screened for stocks of companies that have delivered exceptional earnings growth over the last ten years. Additionally, I screened for stocks trading at reasonable valuations and required a 5-year yield on cost (YoC) of at least 3%.\nScreening and Ranking\nEarnings and earnings growth are the foundation of dividends and dividend growth. Companies could use debt to pay dividends, such as when earnings temporarily are insufficient to cover dividend payouts. Eventually, though, that debt will have to be repaid from earnings, which, presumably and hopefully, would be sufficient to pay off debt and pay the dividend.\nPortfolio Insight provides earnings and earnings growth data that we can monitor to get a sense of a company’s ability to continue paying and increasing dividends. For this month’s article, I considered Non-GAAP EPS compound annual growth rates [CAGRs] for different time frames. Here’s the specific screening formula:\nNG EPS 1Y ≥ 10% and NG EPS 3Y ≥ 10% and NG EPS 5Y ≥ 10% and NG EPS 10Y ≥ 10%\nAdditionally, I screened for stocks trading at reasonable valuations. What I mean by “reasonable” is based on my quality/valuation matrix, which gives preferential treatment to higher quality stocks. Essentially, I’m willing to pay a small premium for the highest quality stocks and I demand a larger discount for lower-quality stocks:\n\nI calculate Buy Below prices relative to my fair value [FV] estimates based on this quality/valuation matrix.\nFinally, I screened for stocks with a 5-year yield on cost[YoC] above 3%. This metric combines the forward yield and 5-year dividend growth rate [DGR] to determine what your dividend would be relative to today’s stock price after five years of investment, assuming the DGR is maintained.\nHere is a summary of this month’s screens in general terms:\n\nExceptional earnings for at least ten years\nReasonable current valuation\nReasonable future dividend income\n\nThe latest Dividend Radar(dated July 30, 2021) contains 762 stocks.\nApplying the first (fairly stringent) screen reduces the list to only 87 candidates. (Of these, only 20 pass the second screen and only 11 also survive the third screen).\nI ranked the candidates by sorting their quality scores (determined via DVK Quality Snapshots) in descending order and used the following metrics, in turn, to break ties:\n\nSimply Safe Dividends' Dividend Safety Scores\nS&P Credit Ratings\nDividend Yield\n\nThe tables below show the top seven stocks in rank-order.\n7 Top-Ranked Dividend Growth Stocks for August\nHere are top-ranked dividend growth stocks that pass this month’s screens:\n\nI own the six highlighted stocks in my DivGro portfolio.\nBelow, I provide a table with key metrics of interest to dividend growth investors, including the dividend increase streak (Years), the dividend Yield for a recent share Price, and the 5-year dividend growth rate (5-Yr DGR). The Chowder Number(CDN) and 5-year YoC (5-Yr YoC) are measures of a stock’s future total return and dividend income prospects, while the 5-year trailing total returns (5-Yr TTR) is a measure of the stock’s performance over the past five years.\nI also provide thefive quality indicatorsused in determining each stock's quality score (Qual), as well as my FV estimate (Fair Value) to help identify stocks that trade at favorable valuations. The discount/premium column (–Disc/+Prem) shows the discount or premium of a recent share price to my FV estimates. The last column shows my Buy Below price.\nKey metrics and fair value estimates of August’s Top 7 Dividend Growth Stocks (includes data sourced from Dividend Radar).\nI use a survey approach to derive my FV estimates. I collect FV estimates and price targets from several sources, including Morningstar and Finbox. I also estimate fair valueusing each stock’s five-year average dividend yield. With several estimates and targets available, I ignore the outliers (the lowest and highest values) and use the average of the median and mean of the remaining values as my FV estimate.\nNext, let's look at each stock in turn. All data and graphs are courtesy of Portfolio-Insight.com.\nThe Home Depot, Inc (HD)\nFounded in 1978 and based in Atlanta, Georgia, HD is a home improvement retailer that sells an assortment of building materials, home improvement products, and lawn and garden products. HD provides installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers.\n\nHD non-GAAP EPS and dividends paid (TTM), with stock price overlay\nLockheed Martin Corporation (LMT)\nFounded in 1909 and headquartered in Bethesda, Maryland, LMT is a global security and aerospace company engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems. LMT operates through four segments, Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.\n\nLMT non-GAAP EPS and dividends paid (TTM), with stock price overlay\nBlackRock, Inc. (BLK)\nBLK is an investment management company that provides a range of investment and risk management services to institutional and retail clients across the world. The company’s offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BLK was founded in 1988 and is based in New York City.\n\nLowe's Companies, Inc. (LOW)\nLOW is a home improvement retailer. The company offers a complete line of products for maintenance, repair, remodeling, and home decorating. It also offers installation services through independent contractors, as well as extended protection plans and repair services. LOW was founded in 1946 and is based in Mooresville, North Carolina.\n\nLOW non-GAAP EPS and dividends paid (TTM), with stock price overlay\nNorthrop Grumman Corporation (NOC)\nFounded in 1939 and based in Falls Church, Virginia, NOC is a leading global security company with both government and commercial customers. NOC provides systems, products, and solutions in unmanned systems; cyber security; command, control, communications and computers intelligence; surveillance and reconnaissance; and logistics and modernization.\n\nNOC non-GAAP EPS and dividends paid (TTM), with stock price overlay\nThe Allstate Corporation (ALL)\nFounded in 1931 and headquartered in Northbrook, Illinois, ALL is a holding company engaged in property-liability insurance and life insurance in the United States and Canada. The company sells insurance products covering automobiles, homes, and other properties under the Allstate, Esurance, and Encompass brand names. It also sells life insurance and voluntary accident and health insurance products.\n\nALL non-GAAP EPS and dividends paid (TTM), with stock price overlay\nL3Harris Technologies, Inc. (LHX)\nLHX, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company operates in four segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. LHX was founded in 1895 and is headquartered in Melbourne, Florida.\n\nLHX non-GAAP EPS and dividends paid (TTM), with stock price overlay\nConcluding Remarks\n\nIn this article, I ranked reasonably valued dividend growth stocks in Dividend Radar that have maintained Non-GAAP EPS growth rates of at least 10% for the past ten years. I also required a 5-year YoC of at least 3%.\nI own six of this month’s stocks. With the exception of my ALL position, my positions are all full-sized positions as determined by my dynamic and flexible portfolio target weighting strategy. ALL is underweight and I would need to add about 75 shares to make if a full-sized position. Given ALL’s 18% discount, it appears to be a good time to do so!\nI don’t own LHX and it looks like an interesting candidate to consider, though I prefer to open new positions when they offer 5-Year YoC’s of at least 4%. Nevertheless, LHX have impressive growth prospects and a low payout ratio, so I’m going to spend some time researching the stock.","news_type":1,"symbols_score_info":{"NOC":0.9,"ALL":0.9,"BLK":0.9,"HD":0.9,"LMT":0.9,"LHX":0.9,"LOW":0.9}},"isVote":1,"tweetType":1,"viewCount":681,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807498543,"gmtCreate":1628047866782,"gmtModify":1631888738639,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090707232019850","idStr":"4090707232019850"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/807498543","repostId":"1123278856","repostType":4,"repost":{"id":"1123278856","kind":"news","pubTimestamp":1628046173,"share":"https://www.laohu8.com/m/news/1123278856?lang=zh_CN&edition=full","pubTime":"2021-08-04 11:02","market":"us","language":"en","title":"NIO: Growth Is Set To Accelerate<blockquote>蔚来：增长将加速</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1123278856","media":"seekingalpha","summary":"Summary\n\nNIO’s delivery growth in July accelerated over the previous month.\nBecause of this strong s","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>NIO’s delivery growth in July accelerated over the previous month.</li>  <li>Because of this strong start to Q3, I am updating my FY 2021 delivery estimate.</li>  <li>As the semiconductor supply shortage eases, NIO’s delivery growth should further accelerate.</li>  <li>Based on valuation and estimated sales growth, NIO is a buy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/241262452bbefb6f4187cbdc8ada9bef\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>SimonSkafar/iStock via Getty Images</span></p><p><blockquote><ul><li>蔚来7月交付量环比增速加快。</li><li>由于第三季度开局强劲，我正在更新2021财年的交付预估。</li><li>随着半导体供应短缺的缓解，蔚来的交付增长应该会进一步加快。</li><li>根据估值和预计销售增长，蔚来值得买入。</li></ul><p class=\"t-img-caption\"><span>SimonSkafar/iStock来自Getty Images</span></p></blockquote></p><p> NIO (NIO) saw impressive delivery growth in July which indicates stronger than expected growth for the second half of the year… which should also see a normalization in production as the chip supply shortage eases. NIO is not cheap, but impressive delivery and sales growth justify a high sales multiplier factor.</p><p><blockquote>蔚来（蔚来）7月份的交付量增长令人印象深刻，这表明下半年的增长强于预期……随着芯片供应短缺的缓解，生产也应该会正常化。蔚来并不便宜，但令人印象深刻的交付和销售增长证明了高销售乘数因素的合理性。</blockquote></p><p> <b>NIO's delivery growth may accelerate toward the end of the year</b></p><p><blockquote><b>临近年底蔚来交付量增速或将加速</b></blockquote></p><p> For the month of July, NIO reported124.5% Y/Y delivery growth. The Chinese EV maker delivered 7,931 vehicles last month, the majority of which were NIO's five-seater smart electric SUV, the ES6. NIO delivered 3,669 ES6s (46% of total deliveries), 2,560 EC6s vehicles (32% of deliveries), which is NIO's five-seater electric coupe sport utility vehicle, and 1,702 ES8s (21% of deliveries), which is NIO's six or seven-seater smart electric SUV. NIO's ES6 is the best-selling EV SUV in the Chinese maker's product line-up and it has the highest delivery volume. If we break down the growth rate by model, then the ES6 saw 41% Y/Y delivery growth and the ES8 saw 84% Y/Y growth. In July 2020, NIO delivered just 3,533 ES8s and ES6s and deliveries of the EC6 coupe SUV commenced only in September 2020. NIO's 124.5% Y/Y growth rate reported for July, although impressive on its own, may underestimate NIO's total delivery growth for the second half of the year as production returns to normal and EC6 sales start to make a larger impact.</p><p><blockquote>蔚来报告7月份交付量同比增长124.5%。这家中国电动汽车制造商上个月交付了7,931辆汽车，其中大部分是蔚来的五座智能电动SUV ES6。蔚来交付了3,669辆ES6（占总交付量的46%）、2,560辆EC6s（占交付量的32%），这是蔚来的五座电动轿跑车运动型多功能车，以及1,702辆ES8（占交付量的21%），这是蔚来的六座或七座智能电动SUV。蔚来的ES6是这家中国制造商产品线中最畅销的电动SUV，也是交付量最高的。如果我们按车型细分增长率，那么ES6的交付量同比增长41%，ES8的交付量同比增长84%。2020年7月，蔚来仅交付了3,533辆ES8和ES6，EC6轿跑车SUV直到2020年9月才开始交付。蔚来公布的7月份124.5%的同比增长率虽然本身令人印象深刻，但随着生产恢复正常和EC6销售开始产生更大影响，可能会低估蔚来下半年的总交付量增长。</blockquote></p><p> NIO's ES6 and the EC6 deliveries saw a small delivery dip in July, which may be attributable to the chip supply shortage rather than slowing demand. However, the drop in deliveries for these two models was countered by an increase in ES8 deliveries. The net effect was that NIO delivered 152 fewer vehicles in July than it delivered in June. I expect ES6 and EC6 models to resume growth throughout Q3'21 and NIO, like other car brands, should benefit from an improving flow of semiconductors in the second half of the year.</p><p><blockquote>蔚来ES6和EC6 7月份交付量小幅下降，这可能归因于芯片供应短缺，而不是需求放缓。然而，这两款车型交付量的下降被ES8交付量的增加所抵消。净影响是蔚来7月份的汽车交付量比6月份减少了152辆。我预计ES6和EC6车型将在21年第三季度恢复增长，蔚来与其他汽车品牌一样，应该会受益于下半年半导体流量的改善。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4aac41720554953fda9f50597692affe\" tg-width=\"918\" tg-height=\"559\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> Despite supply problems with semiconductors, NIO's growth accelerated in July. NIO's July delivery growth rate of 124.5% exceeded delivery growth in June, a month that saw 116.1% growth over last year. In July 2020, NIO's Y/Y delivery growth rate was 322.1% because the delivery volume was much lower in FY 2019, making for a very favorable Y/Y comparison.</p><p><blockquote><table><tbody><tr></tr></tbody></table>尽管半导体存在供应问题，但蔚来的增长在7月份加速。蔚来7月份的交付增长率为124.5%，超过了6月份的交付增长率，6月份的交付增长率比去年增长了116.1%。2020年7月，蔚来的同比交付增长率为322.1%，因为2019财年的交付量要低得多，这使得同比比较非常有利。</blockquote></p><p> NIO's EV rivals, XPeng (XPEV) and Li Auto (LI), did better. XPeng delivered 8,040 vehicles in July 2021, showing&nbsp;228% Y/Y growth. Delivery growth was driven by XPeng's P7s, the Company's sports smart sedan, of which the Chinese EV maker sold 6,054 models. XPeng also sold 1,986 G3s, its compact SUV, which competes against NIO's range of sport utility vehicles. Li Auto also delivered record results with 8,589 Li ONEs delivered in July 2021. The delivery numbers showed&nbsp;251.3% Y/Y growth. The Li ONE is Li Auto's six-seater electric SUV and it competes for buyers against NIO's ES8. It was the first time for Li Auto to cross the milestone of 8,000 monthly deliveries.</p><p><blockquote>蔚来的电动汽车竞争对手小鹏汽车（XPEV）和理想汽车（LI）表现更好。小鹏汽车2021年7月交付汽车8,040辆，同比增长228%。交付量增长是由小鹏汽车的运动型智能轿车P7s推动的，这家中国电动汽车制造商售出了6,054辆。小鹏汽车还售出了1,986辆G3，这是一款紧凑型SUV，可与蔚来的运动型多用途车系列竞争。理想汽车也取得了创纪录的成绩，2021年7月交付了8,589辆Li One。交付数量同比增长251.3%。Li ONE是理想汽车的六座电动SUV，它与蔚来的ES8争夺买家。这是理想汽车首次突破每月交付量8,000辆的里程碑。</blockquote></p><p> Based on the delivery reports, XPeng and Li Auto have stronger delivery growth rates and each EV maker sold more vehicles than NIO in July. NIO lagged its rivals in July deliveries, but its SUV-centric line-up products nevertheless impressive growth. Because of an expected return to normal production in the second half of the year, I expect NIO's growth to continue to accelerate in the remaining five months of the year. Ford said last week that it sees an&nbsp;improving semiconductor supply situation&nbsp;although chips will continue to be in short supply at least until the end of the year. I expect similar comments from NIO next week when earnings are due at which point management may give a new production/delivery guidance.</p><p><blockquote>根据交付报告，小鹏汽车和理想汽车的交付增长率更强劲，每家电动汽车制造商7月份的汽车销量都超过了蔚来。蔚来7月份的交付量落后于竞争对手，但其以SUV为中心的产品线仍取得了令人印象深刻的增长。由于预计下半年生产将恢复正常，我预计蔚来的增长将在今年剩余的五个月内继续加速。福特上周表示，尽管芯片至少在今年年底前仍将持续短缺，但它认为半导体供应形势正在改善。我预计蔚来下周财报发布时也会发表类似评论，届时管理层可能会给出新的生产/交付指导。</blockquote></p><p></p><p> NIO&nbsp;lowered its Q1'21 production forecast&nbsp;because of the semiconductor shortage to 19,500 models, which indicated 1,000 fewer vehicles to be delivered than called for in its earlier guidance of 20,000-20,500 vehicles. NIO ultimately ended up delivering 20,060 in Q1'21. NIO's Q2 saw deliveries of 21,896, so the Chinese EV maker did better in deliveries than its guidance suggested. Because of this, I expect that production can ramp up significantly in Q3 and Q4 as the chip supply shortage becomes less of a production choke point for NIO. I estimate that NIO will edge closer to the 100,000-delivery milestone this year with growth being driven predominantly by the EC6 and ES8. For Q3'21, I expect NIO to average more than 8,000 monthly deliveries, with the average of monthly deliveries growing to a little bit above 10,000 in Q4'21. Compared to my previous guidance, the FY 2021 delivery estimate reflects an additional 1,840 vehicles to be sold in the second half of 2021. So far, NIO delivered 49,887 models in 2021 (including July deliveries) which is equivalent to 50.4% of my full year delivery estimate.</p><p><blockquote>由于半导体短缺，蔚来将21年第一季度的产量预测下调至19,500辆，这表明交付量比之前指导的20,000-20,500辆少1,000辆。蔚来最终在21年第一季度交付了20,060辆。蔚来第二季度的交付量为21,896辆，因此这家中国电动汽车制造商的交付量好于其指导建议。因此，我预计随着芯片供应短缺不再成为蔚来的生产瓶颈，第三季度和第四季度的产量可能会大幅增加。我估计蔚来今年的交付量将接近10万辆的里程碑，增长主要由EC6和ES8推动。对于21年第三季度，我预计蔚来的平均月交付量将超过8,000辆，21年第四季度的平均月交付量将增长至略高于10,000辆。与我之前的指导相比，2021财年的交付预期反映了2021年下半年将额外销售1,840辆汽车。到目前为止，蔚来在2021年交付了49,887辆车型（包括7月交付量），相当于我全年交付量预期的50.4%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fb9b5de9002f17836d0c5fa3b3034f0\" tg-width=\"905\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>(Source: Author Projections)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者预测）</span></p></blockquote></p><p> <b>NIO's sales are expected to grow rapidly</b></p><p><blockquote><b>蔚来销量有望快速增长</b></blockquote></p><p> NIO is expected to have sales of $8.9B next year, twice as much as XPeng… which has the same P-S ratio than NIO. Li Auto has the cheapest sales growth as FY 2022 revenues are valued with a 5.2 sales multiplier factor. Looking at estimated 5-year revenue growth, Li Auto is expected to grow sales the fastest, in part because of its smaller size. However, NIO will still have very impressive revenue growth of 310% until 2025 (based on next year's sales). Because of NIO's&nbsp;BaaS&nbsp;revenue opportunity (which is better than XPeng's battery lease model), I would choose NIO over the other two Chinese EV makers... despite the lower total sales growth rate.</p><p><blockquote>蔚来明年的销售额预计将达到$8.9 B，是小鹏汽车的两倍……小鹏汽车的市盈率与蔚来相同。理想汽车的销售增长最便宜，因为2022财年收入的销售乘数为5.2。从预计的5年收入增长来看，理想汽车预计销售额增长最快，部分原因是其规模较小。然而，蔚来在2025年之前仍将有310%的非常可观的收入增长（基于明年的销售额）。由于蔚来的BaaS收入机会（比小鹏的电池租赁模式更好），我会选择蔚来而不是其他两家中国电动汽车制造商……尽管总销售额增长率较低。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58c5132b85c6e35c18744ec71c7b2e85\" tg-width=\"905\" tg-height=\"532\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>Risks with NIO</b></p><p><blockquote><b>蔚来的风险</b></blockquote></p><p> The chip supply shortage will be the factor that decides how quickly NIO can return to full production and how quickly deliveries will grow. The EV maker will likely give an update next week when it opens its books for the second quarter. The status update will likely include a modified production guidance for the rest of the year which should be positive if management expects the semiconductor situation to improve, which is what I would expect. What would change my opinion on NIO, and perhaps NIO's valuation, is a slowdown in delivery growth rates which I don't consider in my full year delivery estimate. Slower delivery and revenue growth are the two biggest risks for NIO and the stock.</p><p><blockquote>芯片供应短缺将是决定蔚来恢复全面生产的速度以及交付量增长速度的因素。这家电动汽车制造商可能会在下周公布第二季度账目时提供最新信息。状态更新可能会包括修改后的今年剩余时间的生产指导，如果管理层预计半导体形势会有所改善，这应该是积极的，这也是我所期望的。改变我对蔚来的看法，或许还有蔚来估值的是交付增长率的放缓，我在全年交付预测中没有考虑到这一点。交付放缓和收入增长是蔚来和该股面临的两个最大风险。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> I expect NIO to return to a monthly production of at least 10,000 vehicles by Q4'21 as the chip supply situation eases in the next five months… that at least was the takeaway from Ford's Q2'21 earnings and NIO should similarly experience a better flow of semiconductors. This would clear a major production choke point, giving NIO room to ramp up production in 2021 and accelerate its growth.</p><p><blockquote>我预计，随着芯片供应情况在未来五个月内缓解，蔚来将在21年第4季度恢复到每月至少10,000辆汽车的产量……这至少是福特21年第2季度收益的结论，蔚来也应该同样经历更好的增长半导体的流动。这将消除一个主要的生产瓶颈，为蔚来在2021年提高产量并加速增长提供空间。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Growth Is Set To Accelerate<blockquote>蔚来：增长将加速</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Growth Is Set To Accelerate<blockquote>蔚来：增长将加速</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-04 11:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>NIO’s delivery growth in July accelerated over the previous month.</li>  <li>Because of this strong start to Q3, I am updating my FY 2021 delivery estimate.</li>  <li>As the semiconductor supply shortage eases, NIO’s delivery growth should further accelerate.</li>  <li>Based on valuation and estimated sales growth, NIO is a buy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/241262452bbefb6f4187cbdc8ada9bef\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>SimonSkafar/iStock via Getty Images</span></p><p><blockquote><ul><li>蔚来7月交付量环比增速加快。</li><li>由于第三季度开局强劲，我正在更新2021财年的交付预估。</li><li>随着半导体供应短缺的缓解，蔚来的交付增长应该会进一步加快。</li><li>根据估值和预计销售增长，蔚来值得买入。</li></ul><p class=\"t-img-caption\"><span>SimonSkafar/iStock来自Getty Images</span></p></blockquote></p><p> NIO (NIO) saw impressive delivery growth in July which indicates stronger than expected growth for the second half of the year… which should also see a normalization in production as the chip supply shortage eases. NIO is not cheap, but impressive delivery and sales growth justify a high sales multiplier factor.</p><p><blockquote>蔚来（蔚来）7月份的交付量增长令人印象深刻，这表明下半年的增长强于预期……随着芯片供应短缺的缓解，生产也应该会正常化。蔚来并不便宜，但令人印象深刻的交付和销售增长证明了高销售乘数因素的合理性。</blockquote></p><p> <b>NIO's delivery growth may accelerate toward the end of the year</b></p><p><blockquote><b>临近年底蔚来交付量增速或将加速</b></blockquote></p><p> For the month of July, NIO reported124.5% Y/Y delivery growth. The Chinese EV maker delivered 7,931 vehicles last month, the majority of which were NIO's five-seater smart electric SUV, the ES6. NIO delivered 3,669 ES6s (46% of total deliveries), 2,560 EC6s vehicles (32% of deliveries), which is NIO's five-seater electric coupe sport utility vehicle, and 1,702 ES8s (21% of deliveries), which is NIO's six or seven-seater smart electric SUV. NIO's ES6 is the best-selling EV SUV in the Chinese maker's product line-up and it has the highest delivery volume. If we break down the growth rate by model, then the ES6 saw 41% Y/Y delivery growth and the ES8 saw 84% Y/Y growth. In July 2020, NIO delivered just 3,533 ES8s and ES6s and deliveries of the EC6 coupe SUV commenced only in September 2020. NIO's 124.5% Y/Y growth rate reported for July, although impressive on its own, may underestimate NIO's total delivery growth for the second half of the year as production returns to normal and EC6 sales start to make a larger impact.</p><p><blockquote>蔚来报告7月份交付量同比增长124.5%。这家中国电动汽车制造商上个月交付了7,931辆汽车，其中大部分是蔚来的五座智能电动SUV ES6。蔚来交付了3,669辆ES6（占总交付量的46%）、2,560辆EC6s（占交付量的32%），这是蔚来的五座电动轿跑车运动型多功能车，以及1,702辆ES8（占交付量的21%），这是蔚来的六座或七座智能电动SUV。蔚来的ES6是这家中国制造商产品线中最畅销的电动SUV，也是交付量最高的。如果我们按车型细分增长率，那么ES6的交付量同比增长41%，ES8的交付量同比增长84%。2020年7月，蔚来仅交付了3,533辆ES8和ES6，EC6轿跑车SUV直到2020年9月才开始交付。蔚来公布的7月份124.5%的同比增长率虽然本身令人印象深刻，但随着生产恢复正常和EC6销售开始产生更大影响，可能会低估蔚来下半年的总交付量增长。</blockquote></p><p> NIO's ES6 and the EC6 deliveries saw a small delivery dip in July, which may be attributable to the chip supply shortage rather than slowing demand. However, the drop in deliveries for these two models was countered by an increase in ES8 deliveries. The net effect was that NIO delivered 152 fewer vehicles in July than it delivered in June. I expect ES6 and EC6 models to resume growth throughout Q3'21 and NIO, like other car brands, should benefit from an improving flow of semiconductors in the second half of the year.</p><p><blockquote>蔚来ES6和EC6 7月份交付量小幅下降，这可能归因于芯片供应短缺，而不是需求放缓。然而，这两款车型交付量的下降被ES8交付量的增加所抵消。净影响是蔚来7月份的汽车交付量比6月份减少了152辆。我预计ES6和EC6车型将在21年第三季度恢复增长，蔚来与其他汽车品牌一样，应该会受益于下半年半导体流量的改善。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4aac41720554953fda9f50597692affe\" tg-width=\"918\" tg-height=\"559\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> Despite supply problems with semiconductors, NIO's growth accelerated in July. NIO's July delivery growth rate of 124.5% exceeded delivery growth in June, a month that saw 116.1% growth over last year. In July 2020, NIO's Y/Y delivery growth rate was 322.1% because the delivery volume was much lower in FY 2019, making for a very favorable Y/Y comparison.</p><p><blockquote><table><tbody><tr></tr></tbody></table>尽管半导体存在供应问题，但蔚来的增长在7月份加速。蔚来7月份的交付增长率为124.5%，超过了6月份的交付增长率，6月份的交付增长率比去年增长了116.1%。2020年7月，蔚来的同比交付增长率为322.1%，因为2019财年的交付量要低得多，这使得同比比较非常有利。</blockquote></p><p> NIO's EV rivals, XPeng (XPEV) and Li Auto (LI), did better. XPeng delivered 8,040 vehicles in July 2021, showing&nbsp;228% Y/Y growth. Delivery growth was driven by XPeng's P7s, the Company's sports smart sedan, of which the Chinese EV maker sold 6,054 models. XPeng also sold 1,986 G3s, its compact SUV, which competes against NIO's range of sport utility vehicles. Li Auto also delivered record results with 8,589 Li ONEs delivered in July 2021. The delivery numbers showed&nbsp;251.3% Y/Y growth. The Li ONE is Li Auto's six-seater electric SUV and it competes for buyers against NIO's ES8. It was the first time for Li Auto to cross the milestone of 8,000 monthly deliveries.</p><p><blockquote>蔚来的电动汽车竞争对手小鹏汽车（XPEV）和理想汽车（LI）表现更好。小鹏汽车2021年7月交付汽车8,040辆，同比增长228%。交付量增长是由小鹏汽车的运动型智能轿车P7s推动的，这家中国电动汽车制造商售出了6,054辆。小鹏汽车还售出了1,986辆G3，这是一款紧凑型SUV，可与蔚来的运动型多用途车系列竞争。理想汽车也取得了创纪录的成绩，2021年7月交付了8,589辆Li One。交付数量同比增长251.3%。Li ONE是理想汽车的六座电动SUV，它与蔚来的ES8争夺买家。这是理想汽车首次突破每月交付量8,000辆的里程碑。</blockquote></p><p> Based on the delivery reports, XPeng and Li Auto have stronger delivery growth rates and each EV maker sold more vehicles than NIO in July. NIO lagged its rivals in July deliveries, but its SUV-centric line-up products nevertheless impressive growth. Because of an expected return to normal production in the second half of the year, I expect NIO's growth to continue to accelerate in the remaining five months of the year. Ford said last week that it sees an&nbsp;improving semiconductor supply situation&nbsp;although chips will continue to be in short supply at least until the end of the year. I expect similar comments from NIO next week when earnings are due at which point management may give a new production/delivery guidance.</p><p><blockquote>根据交付报告，小鹏汽车和理想汽车的交付增长率更强劲，每家电动汽车制造商7月份的汽车销量都超过了蔚来。蔚来7月份的交付量落后于竞争对手，但其以SUV为中心的产品线仍取得了令人印象深刻的增长。由于预计下半年生产将恢复正常，我预计蔚来的增长将在今年剩余的五个月内继续加速。福特上周表示，尽管芯片至少在今年年底前仍将持续短缺，但它认为半导体供应形势正在改善。我预计蔚来下周财报发布时也会发表类似评论，届时管理层可能会给出新的生产/交付指导。</blockquote></p><p></p><p> NIO&nbsp;lowered its Q1'21 production forecast&nbsp;because of the semiconductor shortage to 19,500 models, which indicated 1,000 fewer vehicles to be delivered than called for in its earlier guidance of 20,000-20,500 vehicles. NIO ultimately ended up delivering 20,060 in Q1'21. NIO's Q2 saw deliveries of 21,896, so the Chinese EV maker did better in deliveries than its guidance suggested. Because of this, I expect that production can ramp up significantly in Q3 and Q4 as the chip supply shortage becomes less of a production choke point for NIO. I estimate that NIO will edge closer to the 100,000-delivery milestone this year with growth being driven predominantly by the EC6 and ES8. For Q3'21, I expect NIO to average more than 8,000 monthly deliveries, with the average of monthly deliveries growing to a little bit above 10,000 in Q4'21. Compared to my previous guidance, the FY 2021 delivery estimate reflects an additional 1,840 vehicles to be sold in the second half of 2021. So far, NIO delivered 49,887 models in 2021 (including July deliveries) which is equivalent to 50.4% of my full year delivery estimate.</p><p><blockquote>由于半导体短缺，蔚来将21年第一季度的产量预测下调至19,500辆，这表明交付量比之前指导的20,000-20,500辆少1,000辆。蔚来最终在21年第一季度交付了20,060辆。蔚来第二季度的交付量为21,896辆，因此这家中国电动汽车制造商的交付量好于其指导建议。因此，我预计随着芯片供应短缺不再成为蔚来的生产瓶颈，第三季度和第四季度的产量可能会大幅增加。我估计蔚来今年的交付量将接近10万辆的里程碑，增长主要由EC6和ES8推动。对于21年第三季度，我预计蔚来的平均月交付量将超过8,000辆，21年第四季度的平均月交付量将增长至略高于10,000辆。与我之前的指导相比，2021财年的交付预期反映了2021年下半年将额外销售1,840辆汽车。到目前为止，蔚来在2021年交付了49,887辆车型（包括7月交付量），相当于我全年交付量预期的50.4%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fb9b5de9002f17836d0c5fa3b3034f0\" tg-width=\"905\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>(Source: Author Projections)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者预测）</span></p></blockquote></p><p> <b>NIO's sales are expected to grow rapidly</b></p><p><blockquote><b>蔚来销量有望快速增长</b></blockquote></p><p> NIO is expected to have sales of $8.9B next year, twice as much as XPeng… which has the same P-S ratio than NIO. Li Auto has the cheapest sales growth as FY 2022 revenues are valued with a 5.2 sales multiplier factor. Looking at estimated 5-year revenue growth, Li Auto is expected to grow sales the fastest, in part because of its smaller size. However, NIO will still have very impressive revenue growth of 310% until 2025 (based on next year's sales). Because of NIO's&nbsp;BaaS&nbsp;revenue opportunity (which is better than XPeng's battery lease model), I would choose NIO over the other two Chinese EV makers... despite the lower total sales growth rate.</p><p><blockquote>蔚来明年的销售额预计将达到$8.9 B，是小鹏汽车的两倍……小鹏汽车的市盈率与蔚来相同。理想汽车的销售增长最便宜，因为2022财年收入的销售乘数为5.2。从预计的5年收入增长来看，理想汽车预计销售额增长最快，部分原因是其规模较小。然而，蔚来在2025年之前仍将有310%的非常可观的收入增长（基于明年的销售额）。由于蔚来的BaaS收入机会（比小鹏的电池租赁模式更好），我会选择蔚来而不是其他两家中国电动汽车制造商……尽管总销售额增长率较低。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58c5132b85c6e35c18744ec71c7b2e85\" tg-width=\"905\" tg-height=\"532\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>Risks with NIO</b></p><p><blockquote><b>蔚来的风险</b></blockquote></p><p> The chip supply shortage will be the factor that decides how quickly NIO can return to full production and how quickly deliveries will grow. The EV maker will likely give an update next week when it opens its books for the second quarter. The status update will likely include a modified production guidance for the rest of the year which should be positive if management expects the semiconductor situation to improve, which is what I would expect. What would change my opinion on NIO, and perhaps NIO's valuation, is a slowdown in delivery growth rates which I don't consider in my full year delivery estimate. Slower delivery and revenue growth are the two biggest risks for NIO and the stock.</p><p><blockquote>芯片供应短缺将是决定蔚来恢复全面生产的速度以及交付量增长速度的因素。这家电动汽车制造商可能会在下周公布第二季度账目时提供最新信息。状态更新可能会包括修改后的今年剩余时间的生产指导，如果管理层预计半导体形势会有所改善，这应该是积极的，这也是我所期望的。改变我对蔚来的看法，或许还有蔚来估值的是交付增长率的放缓，我在全年交付预测中没有考虑到这一点。交付放缓和收入增长是蔚来和该股面临的两个最大风险。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> I expect NIO to return to a monthly production of at least 10,000 vehicles by Q4'21 as the chip supply situation eases in the next five months… that at least was the takeaway from Ford's Q2'21 earnings and NIO should similarly experience a better flow of semiconductors. This would clear a major production choke point, giving NIO room to ramp up production in 2021 and accelerate its growth.</p><p><blockquote>我预计，随着芯片供应情况在未来五个月内缓解，蔚来将在21年第4季度恢复到每月至少10,000辆汽车的产量……这至少是福特21年第2季度收益的结论，蔚来也应该同样经历更好的增长半导体的流动。这将消除一个主要的生产瓶颈，为蔚来在2021年提高产量并加速增长提供空间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4444428-nio-growth-is-set-to-accelerate\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4444428-nio-growth-is-set-to-accelerate","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123278856","content_text":"Summary\n\nNIO’s delivery growth in July accelerated over the previous month.\nBecause of this strong start to Q3, I am updating my FY 2021 delivery estimate.\nAs the semiconductor supply shortage eases, NIO’s delivery growth should further accelerate.\nBased on valuation and estimated sales growth, NIO is a buy.\n\nSimonSkafar/iStock via Getty Images\nNIO (NIO) saw impressive delivery growth in July which indicates stronger than expected growth for the second half of the year… which should also see a normalization in production as the chip supply shortage eases. NIO is not cheap, but impressive delivery and sales growth justify a high sales multiplier factor.\nNIO's delivery growth may accelerate toward the end of the year\nFor the month of July, NIO reported124.5% Y/Y delivery growth. The Chinese EV maker delivered 7,931 vehicles last month, the majority of which were NIO's five-seater smart electric SUV, the ES6. NIO delivered 3,669 ES6s (46% of total deliveries), 2,560 EC6s vehicles (32% of deliveries), which is NIO's five-seater electric coupe sport utility vehicle, and 1,702 ES8s (21% of deliveries), which is NIO's six or seven-seater smart electric SUV. NIO's ES6 is the best-selling EV SUV in the Chinese maker's product line-up and it has the highest delivery volume. If we break down the growth rate by model, then the ES6 saw 41% Y/Y delivery growth and the ES8 saw 84% Y/Y growth. In July 2020, NIO delivered just 3,533 ES8s and ES6s and deliveries of the EC6 coupe SUV commenced only in September 2020. NIO's 124.5% Y/Y growth rate reported for July, although impressive on its own, may underestimate NIO's total delivery growth for the second half of the year as production returns to normal and EC6 sales start to make a larger impact.\nNIO's ES6 and the EC6 deliveries saw a small delivery dip in July, which may be attributable to the chip supply shortage rather than slowing demand. However, the drop in deliveries for these two models was countered by an increase in ES8 deliveries. The net effect was that NIO delivered 152 fewer vehicles in July than it delivered in June. I expect ES6 and EC6 models to resume growth throughout Q3'21 and NIO, like other car brands, should benefit from an improving flow of semiconductors in the second half of the year.\n(Source: Author)\n\n\n\n\n\nDespite supply problems with semiconductors, NIO's growth accelerated in July. NIO's July delivery growth rate of 124.5% exceeded delivery growth in June, a month that saw 116.1% growth over last year. In July 2020, NIO's Y/Y delivery growth rate was 322.1% because the delivery volume was much lower in FY 2019, making for a very favorable Y/Y comparison.\nNIO's EV rivals, XPeng (XPEV) and Li Auto (LI), did better. XPeng delivered 8,040 vehicles in July 2021, showing 228% Y/Y growth. Delivery growth was driven by XPeng's P7s, the Company's sports smart sedan, of which the Chinese EV maker sold 6,054 models. XPeng also sold 1,986 G3s, its compact SUV, which competes against NIO's range of sport utility vehicles. Li Auto also delivered record results with 8,589 Li ONEs delivered in July 2021. The delivery numbers showed 251.3% Y/Y growth. The Li ONE is Li Auto's six-seater electric SUV and it competes for buyers against NIO's ES8. It was the first time for Li Auto to cross the milestone of 8,000 monthly deliveries.\nBased on the delivery reports, XPeng and Li Auto have stronger delivery growth rates and each EV maker sold more vehicles than NIO in July. NIO lagged its rivals in July deliveries, but its SUV-centric line-up products nevertheless impressive growth. Because of an expected return to normal production in the second half of the year, I expect NIO's growth to continue to accelerate in the remaining five months of the year. Ford said last week that it sees an improving semiconductor supply situation although chips will continue to be in short supply at least until the end of the year. I expect similar comments from NIO next week when earnings are due at which point management may give a new production/delivery guidance.\nNIO lowered its Q1'21 production forecast because of the semiconductor shortage to 19,500 models, which indicated 1,000 fewer vehicles to be delivered than called for in its earlier guidance of 20,000-20,500 vehicles. NIO ultimately ended up delivering 20,060 in Q1'21. NIO's Q2 saw deliveries of 21,896, so the Chinese EV maker did better in deliveries than its guidance suggested. Because of this, I expect that production can ramp up significantly in Q3 and Q4 as the chip supply shortage becomes less of a production choke point for NIO. I estimate that NIO will edge closer to the 100,000-delivery milestone this year with growth being driven predominantly by the EC6 and ES8. For Q3'21, I expect NIO to average more than 8,000 monthly deliveries, with the average of monthly deliveries growing to a little bit above 10,000 in Q4'21. Compared to my previous guidance, the FY 2021 delivery estimate reflects an additional 1,840 vehicles to be sold in the second half of 2021. So far, NIO delivered 49,887 models in 2021 (including July deliveries) which is equivalent to 50.4% of my full year delivery estimate.\n(Source: Author Projections)\nNIO's sales are expected to grow rapidly\nNIO is expected to have sales of $8.9B next year, twice as much as XPeng… which has the same P-S ratio than NIO. Li Auto has the cheapest sales growth as FY 2022 revenues are valued with a 5.2 sales multiplier factor. Looking at estimated 5-year revenue growth, Li Auto is expected to grow sales the fastest, in part because of its smaller size. However, NIO will still have very impressive revenue growth of 310% until 2025 (based on next year's sales). Because of NIO's BaaS revenue opportunity (which is better than XPeng's battery lease model), I would choose NIO over the other two Chinese EV makers... despite the lower total sales growth rate.\n(Source: Author)\nRisks with NIO\nThe chip supply shortage will be the factor that decides how quickly NIO can return to full production and how quickly deliveries will grow. The EV maker will likely give an update next week when it opens its books for the second quarter. The status update will likely include a modified production guidance for the rest of the year which should be positive if management expects the semiconductor situation to improve, which is what I would expect. What would change my opinion on NIO, and perhaps NIO's valuation, is a slowdown in delivery growth rates which I don't consider in my full year delivery estimate. Slower delivery and revenue growth are the two biggest risks for NIO and the stock.\nFinal thoughts\nI expect NIO to return to a monthly production of at least 10,000 vehicles by Q4'21 as the chip supply situation eases in the next five months… that at least was the takeaway from Ford's Q2'21 earnings and NIO should similarly experience a better flow of semiconductors. This would clear a major production choke point, giving NIO room to ramp up production in 2021 and accelerate its growth.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1436,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815062854,"gmtCreate":1630630855178,"gmtModify":1631888738641,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090707232019850","idStr":"4090707232019850"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815062854","repostId":"807139027","repostType":1,"repost":{"id":807139027,"gmtCreate":1628004498869,"gmtModify":1631888552483,"author":{"id":"3582640102592298","authorId":"3582640102592298","name":"whitemeow","avatar":"https://static.tigerbbs.com/24c2bce3dabfd8946961b8a162319f8f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582640102592298","idStr":"3582640102592298"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>&nbsp;should I wait till tomorrow then buy to average down?&nbsp;","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>&nbsp;should I wait till tomorrow then buy to average down?&nbsp;","text":"$AMC Entertainment(AMC)$ should I wait till tomorrow then buy to average down?","images":[{"img":"https://static.tigerbbs.com/86203ca3f856e636b17e8549a24eff05","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/807139027","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894235227,"gmtCreate":1628827986869,"gmtModify":1631888738647,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090707232019850","idStr":"4090707232019850"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894235227","repostId":"1191538365","repostType":4,"isVote":1,"tweetType":1,"viewCount":1264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811381594,"gmtCreate":1630289614618,"gmtModify":1704957874297,"author":{"id":"4090707232019850","authorId":"4090707232019850","name":"xnegate","avatar":"https://static.tigerbbs.com/7549d1578f4d67f05cd97a41e6bfb844","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090707232019850","idStr":"4090707232019850"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/811381594","repostId":"835884368","repostType":1,"repost":{"id":835884368,"gmtCreate":1629703866852,"gmtModify":1629703866852,"author":{"id":"3502860692623653","authorId":"3502860692623653","name":"爱上趋势股","avatar":"https://static.tigerbbs.com/17f4521614b0cae62aff9fa7fa80fa77","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3502860692623653","idStr":"3502860692623653"},"themes":[],"title":"收复失地，收益濒临新高！（8/23）","htmlText":"趋势精选组合又牛叉了，指数跌的时候，少跌；指数反弹的时候大涨。 晃晃悠悠的，现在濒临新高了： 蓝色为同时期上证指数走势 然后就是<a href=\"https://laohu8.com/S/U\">$Unity Software Inc.(U)$</a> 走出了预期的反弹，目前就看能不能新高了，如果成的话，趋势就又打开了。 就这样，远离那些风险较大的中概股，不左侧交易，主做趋势股，没什么大问题。","listText":"趋势精选组合又牛叉了，指数跌的时候，少跌；指数反弹的时候大涨。 晃晃悠悠的，现在濒临新高了： 蓝色为同时期上证指数走势 然后就是<a href=\"https://laohu8.com/S/U\">$Unity Software Inc.(U)$</a> 走出了预期的反弹，目前就看能不能新高了，如果成的话，趋势就又打开了。 就这样，远离那些风险较大的中概股，不左侧交易，主做趋势股，没什么大问题。","text":"趋势精选组合又牛叉了，指数跌的时候，少跌；指数反弹的时候大涨。 晃晃悠悠的，现在濒临新高了： 蓝色为同时期上证指数走势 然后就是$Unity Software Inc.(U)$ 走出了预期的反弹，目前就看能不能新高了，如果成的话，趋势就又打开了。 就这样，远离那些风险较大的中概股，不左侧交易，主做趋势股，没什么大问题。","images":[{"img":"https://static.tigerbbs.com/a574fc9f7e6884cdd2b086ed80f02475","width":"-1","height":"-1"},{"img":"https://static.tigerbbs.com/81841c31aabc0cb98a16a3d0599ffdbd","width":"-1","height":"-1"},{"img":"https://static.tigerbbs.com/73b3389312f6ca8c664aae2f99e06f47","width":"-1","height":"-1"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/835884368","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":1,"comments":[],"imageCount":3,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1093,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}