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非必需消费品行业 — 财报质量筛查

共248只非必需消费品股票经过18项财报排雷检查筛查

评级分布

B: 13
C: 22
F: 200
A8 — 优秀 — 几乎无异常
B13 — 良好 — 总体健康
C22 — 一般 — 存在部分异常
D5 — 较差 — 存在显著隐忧
F200 — 不及格 — 存在重大风险

非必需消费品行业的财报质量特征

非必需消费品公司——零售商、汽车制造商、房屋建筑商、餐饮企业和服装品牌——面临由库存管理、租赁会计、加盟模式扭曲和明显的季节性收入模式驱动的盈余质量风险。库存减记是一个长期问题：零售商可能延迟确认过时库存以避免利润率冲击，然后进行实际上已积累多个季度的大额"一次性"计提。ASC 842租赁会计准则将大量使用权资产和租赁负债放上资产负债表，从根本上改变了传统的杠杆和资产质量指标。重加盟模式企业呈现特有的扭曲：加盟商报告高利润率的特许权使用费收入，而资本密集度在加盟商层面，使特许方看起来轻资产且盈利能力强，无论整个系统的健康状况如何。零售业的季节性收入模式意味着没有适当标准化的季度间比较可能产生误导。我们的筛查发现56只非必需消费品股中有45只获得F评级——在主要行业中F评级率最高——反映了周期性下行、库存风险和会计复杂性在该领域的叠加效应。

非必需消费品行业常见异常信号

  • ⚠库存增长连续多个季度超过销售成本增长，暗示未售库存积压
  • ⚠使用权租赁资产和负债扭曲了债务权益比，掩盖了真实的财务杠杆
  • ⚠特许权使用费收入增长而加盟商同店销售下降——加盟模式掩盖的系统性疲弱信号
  • ⚠频繁出现每年都会发生的"非经常性"重组和减值费用，被用于管理报告利润

全部248只非必需消费品股票

A优秀 — 几乎无异常(8 只)

A
BKNGBooking Holdings Inc. Common St
A
CARGCarGurus, Inc.
A
DECKDeckers Outdoor Corporation
A
ETDEthan Allen Interiors Inc.
A
FLXSFlexsteel Industries, Inc.
A
MCRIMonarch Casino & Resort, Inc.
A
STRTSTRATTEC SECURITY CORPORATION
A
WSMWilliams-Sonoma, Inc.

B良好 — 总体健康(13 只)

B
ABNBAirbnb, Inc.
B
BKEBuckle, Inc. (The)
B
ESCAEscalade, Incorporated
B
HVTHaverty Furniture Companies, In
B
LULUlululemon athletica inc.
B
LZBLa-Z-Boy Incorporated
B
MBUUMalibu Boats, Inc.
B
MCFTMasterCraft Boat Holdings, Inc.
B
MEDMEDIFAST INC
B
SGHCSuper Group (SGHC) Limited
B
SIGSignet Jewelers Limited
B
VCVisteon Corporation
B
ZUMZZumiez Inc.

C一般 — 存在部分异常(22 只)

C
AMZNAmazon.com, Inc.
C
ANFAbercrombie & Fitch Company
C
BSETBassett Furniture Industries, I
C
CALYCallaway Golf Company
C
FIGSFIGS, Inc.
C
GIIIG-III Apparel Group, LTD.
C
HBBHamilton Beach Brands Holding C
C
HYLNHyliion Holdings Corp.
C
KRTKarat Packaging Inc.
C
LOVEThe Lovesac Company
C
MOVMovado Group Inc.
C
NKENike, Inc.
C
RLRalph Lauren Corporation
C
ROSTRoss Stores, Inc.
C
RSIRush Street Interactive, Inc.
C
RVLVRevolve Group, Inc.
C
SKYChampion Homes, Inc.
C
THRMGentherm Inc
C
TSLATesla, Inc.
C
URBNUrban Outfitters, Inc.
C
WEYSWeyco Group, Inc.
C
XPELXPEL, Inc.

D较差 — 存在显著隐忧(5 只)

D
CVCOCavco Industries, Inc.
D
DASHDoorDash, Inc.
D
JAKKJAKKS Pacific, Inc.
D
LQDTLiquidity Services, Inc.
D
MLRMiller Industries, Inc.

F不及格 — 存在重大风险(200 只)

F
AAPAdvance Auto Parts Inc.
F
ABGAsbury Automotive Group Inc
F
ACELAccel Entertainment, Inc.
F
ACVAACV Auctions Inc.
F
ADNTAdient plc
F
AEOAmerican Eagle Outfitters, Inc.
F
AINAlbany International Corporatio
F
ALHAlliance Laundry Holdings Inc.
F
AMBPArdagh Metal Packaging S.A.
F
AMCRAmcor plc
F
AMWDAmerican Woodmark Corporation
F
AOUTAmerican Outdoor Brands, Inc.
F
APTVAptiv PLC
F
ARHSArhaus, Inc.
F
ARKOARKO Corp.
F
ASOAcademy Sports and Outdoors, In
F
ATMUAtmus Filtration Technologies I
F
AVYAvery Dennison Corporation
F
AZOAutoZone, Inc.
F
BALLBall Corporation
F
BALYBally's Corporation
F
BARKBARK, Inc.
F
BBWBuild-A-Bear Workshop, Inc.
F
BBYBest Buy Co., Inc.
F
BHBiglari Holdings Inc.
F
BJRIBJ's Restaurants, Inc.
F
BLMNBloomin' Brands, Inc.
F
BNEDBarnes & Noble Education, Inc
F
BOOTBoot Barn Holdings, Inc.
F
BRCBBlack Rock Coffee Bar, Inc.
F
BRSLBrightstar Lottery PLC Trading
F
BZHBeazer Homes USA, Inc.
F
CAKEThe Cheesecake Factory Incorpor
F
CALCaleres, Inc.
F
CASYCaseys General Stores, Inc.
F
CBRLCracker Barrel Old Country Stor
F
CCLCarnival Corporation
F
CLARClarus Corporation
F
CMGChipotle Mexican Grill, Inc.
F
CNNECannae Holdings, Inc.
F
COOKTraeger, Inc.
F
CPRICapri Holdings Limited
F
CPSCooper-Standard Holdings Inc.
F
CRICarter's, Inc.
F
CRMTAmerica's Car-Mart, Inc.
F
CSVCarriage Services, Inc.
F
CTRNCiti Trends, Inc.
F
CURVTorrid Holdings Inc.
F
CVNACarvana Co.
F
CWHCamping World Holdings, Inc.
F
DANDana Incorporated
F
DBIDesigner Brands Inc.
F
DCHDauch Corporation
F
DFHDream Finders Homes, Inc.
F
DHID.R. Horton, Inc.
F
DINDine Brands Global, Inc. Common
F
DORMDorman Products, Inc.
F
DPZDomino's Pizza Inc
F
DRIDarden Restaurants, Inc.
F
DRVNDriven Brands Holdings Inc.
F
EATBrinker International, Inc.
F
EBAYeBay Inc.
F
ELAEnvela Corporation
F
EVGOEVgo Inc.
F
EXPEExpedia Group, Inc.
F
EYENational Vision Holdings, Inc.
F
FFord Motor Company
F
FFAIFaraday Future Intelligent Elec
F
FLWS1-800-FLOWERS.COM, Inc.
F
FNKOFunko, Inc.
F
FOXFFox Factory Holding Corp.
F
FTDRfrontdoor, inc.
F
FUNSix Flags Entertainment Corpora
F
FWRGFirst Watch Restaurant Group, I
F
GAMBGambling.com Group Limited
F
GBTGGlobal Business Travel Group, I
F
GCOGenesco Inc.
F
GDENGolden Entertainment, Inc.
F
GEFGreif Inc.
F
GMGeneral Motors Company
F
GOLFAcushnet Holdings Corp.
F
GPCGenuine Parts Company
F
GPIGroup 1 Automotive, Inc.
F
GRBKGreen Brick Partners, Inc.
F
GTThe Goodyear Tire & Rubber Comp
F
GTXGarrett Motion Inc.
F
HASHasbro, Inc.
F
HDHome Depot, Inc. (The)
F
HGVHilton Grand Vacations Inc.
F
HLLYHolley Inc.
F
HLTHilton Worldwide Holdings Inc.
F
HNIHNI Corporation
F
HOVHovnanian Enterprises, Inc.
F
HZOMarineMax, Inc. (FL)
F
IBPInstalled Building Products, In
F
INSEInspired Entertainment, Inc.
F
IPInternational Paper Company
F
JACKJack In The Box Inc.
F
JILLJ. Jill, Inc.
F
JOUTJohnson Outdoors Inc.
F
KBHKB Home
F
KFSKingsway Financial Services, In
F
KRUSKura Sushi USA, Inc.
F
KSSKohl's Corporation
F
KTBKontoor Brands, Inc.
F
LAKELakeland Industries, Inc.
F
LCIILCI Industries
F
LELands' End, Inc.
F
LEGLeggett & Platt, Incorporated
F
LEGHLegacy Housing Corporation
F
LENLennar Corporation
F
LGIHLGI Homes, Inc.
F
LINDLindblad Expeditions Holdings I
F
LOCOEl Pollo Loco Holdings, Inc.
F
LOWLowe's Companies, Inc.
F
LTHLife Time Group Holdings, Inc.
F
LVSLas Vegas Sands Corp.
F
LVWRLiveWire Group, Inc.
F
MARMarriott International
F
MBCMasterBrand, Inc.
F
MCDMcDonald's Corporation
F
MCWMister Car Wash, Inc.
F
MELIMercadoLibre, Inc.
F
MGMMGM Resorts International
F
MHOM/I Homes, Inc.
F
MLKNMillerKnoll, Inc.
F
MNROMonro, Inc.
F
MODModine Manufacturing Company
F
MPAAMotorcar Parts of America, Inc.
F
MPXMarine Products Corporation
F
MSGEMadison Square Garden Entertain
F
MTHMeritage Homes Corporation
F
MVSTMicrovast Holdings, Inc.
F
MYEMyers Industries, Inc.
F
NATHNathan's Famous, Inc.
F
NCLHNorwegian Cruise Line Holdings
F
NVRNVR, Inc.
F
OIO-I Glass, Inc.
F
OLPXOlaplex Holdings, Inc.
F
ONEWOneWater Marine Inc.
F
OPLNOPENLANE, Inc.
F
ORLYO'Reilly Automotive, Inc.
F
OSWOneSpaWorld Holdings Limited
F
OXMOxford Industries, Inc.
F
PACKRanpak Holdings Corp
F
PATKPatrick Industries, Inc.
F
PHINPHINIA Inc.
F
PHMPulteGroup, Inc.
F
PIIPolaris Inc.
F
PKGPackaging Corporation of Americ
F
PLOWDouglas Dynamics, Inc.
F
PRKSUnited Parks & Resorts Inc.
F
PRSUPursuit Attractions and Hospita
F
PTLOPortillo's Inc.
F
PTONPeloton Interactive, Inc.
F
PZZAPapa John's International, Inc.
F
RCKYRocky Brands, Inc.
F
RCLRoyal Caribbean Cruises Ltd.
F
REALThe RealReal, Inc.
F
RICKRCI Hospitality Holdings, Inc.
F
RIVNRivian Automotive, Inc.
F
ROLRollins, Inc.
F
RRRRed Rock Resorts, Inc.
F
RUSHARush Enterprises, Inc.
F
RUSHBRush Enterprises, Inc.
F
SAHSonic Automotive, Inc.
F
SBHSally Beauty Holdings, Inc. (Na
F
SBUXStarbucks Corporation
F
SCVLShoe Carnival, Inc.
F
SFIXStitch Fix, Inc.
F
SGSweetgreen, Inc.
F
SGCSuperior Group of Companies, In
F
SHAKShake Shack, Inc.
F
SHOOSteven Madden, Ltd.
F
SLDPSolid Power, Inc.
F
SMPStandard Motor Products, Inc.
F
SNBRSleep Number Corporation
F
SVVSavers Value Village, Inc.
F
SWSmurfit WestRock plc
F
TDUPThredUp Inc.
F
TILEInterface, Inc.
F
TJXTJX Companies, Inc. (The)
F
TMHCTaylor Morrison Home Corporatio
F
TPHTri Pointe Homes, Inc.
F
TPRTapestry, Inc.
F
TRIPTripAdvisor, Inc.
F
TRSTriMas Corporation
F
TSCOTractor Supply Company
F
ULTAUlta Beauty, Inc.
F
VACMarriott Vacations Worldwide Co
F
VIRCVirco Manufacturing Corporation
F
VSCOVictorias Secret & Co.
F
WGOWinnebago Industries, Inc.
F
WINAWinmark Corporation
F
WOOFPetco Health and Wellness Compa
F
WWWWolverine World Wide, Inc.
F
WYNNWynn Resorts, Limited
F
XPOFXponential Fitness, Inc.
F
YUMYum! Brands, Inc.
F
ZGNErmenegildo Zegna N.V.

了解我们的方法论

每只股票经过18项基于唐朝投资框架的系统化检查，包括Beneish M-Score和Altman Z-Score量化模型。

查看完整方法论 →

按评级浏览

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推荐报告

BABNBAirbnb, Inc.CAMZNAmazon.com, Inc.ABKNGBooking Holdings Inc. Common St

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