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所属报告:
计算机行业美股软件及IT服务25年大复盘:穿越周期看计算机公司业绩及估值的锚-20220131(40页).pdf
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各互联网云业务OPM变化情况(%)
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行业数据
2025-11-07
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国内云厂商经调EBITA与OPM变化(%)
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行业数据
2025-11-07
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安踏体育分品牌OPM(%)
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行业数据
2025-09-29
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国内云厂商经调EBITA与OPM变化(%)
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行业数据
2025-09-19
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海外云厂OPM季度变化(%)
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行业数据
2025-09-19
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云服务业务盈利逐步改善,2024全年云服务OPM达6%
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行业数据
2025-05-22
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2023Q1~2024Q4TechnicalApparel经调整后OPM(%)元,%)
fCDml6XmnJ8gfCBUZWNobmljYWwgQXBwYXJlbCDnu4/osIPmlbTlkI4gT1BNIHwKfCAtLS0gfCAtLS0gfAp8IDIwMjNRMSB8IDI1JSB8CnwgMjAyM1EyIHwgMTUlIHwKfCAyMDIzUTMgfCAyMCUgfAp8IDIwMjNRNCB8IDI1JSB8CnwgMjAyNFExIHwgMjAlIHwKfCAyMDI0UTIgfCAxNSUgfAp8IDIwMjRRMyB8IDIwJSB8CnwgMjAyNFE0IHwgMjUlIHwKCui1hOaWmeadpea6kO+8muWFrOWPuOWFrOWRiu+8jOWbveebm+ivgeWIuOeglOeptuaJgA==
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行业数据
2025-04-24
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2023Q1~2024Q4Ball&Racquet经调整后OPM(%)元,%)
fCDml6XmnJ8gfCBCYWxsICYgUmFjcXVldCBTcG9ydHMg57uP6LCD5pW05ZCOT1BN77yIJe+8iSB8CnwtLS0tLS18LS0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tfAp8IDIwMjNRMSB8IDE1JSB8CnwgMjAyM1EyIHwgNSUgfAp8IDIwMjNRMyB8IDAlIHwKfCAyMDIzUTQgfCAtMTAlIHwKfCAyMDI0UTEgfCA1JSB8CnwgMjAyNFEyIHwgMCUgfAp8IDIwMjRRMyB8IDEwJSB8CnwgMjAyNFE0IHwgLTUlIHwKCui1hOaWmeadpea6kO+8muWFrOWPuOWFrOWRiu+8jOWbveebm+ivgeWIuOeglOeptuaJgA==
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行业数据
2025-04-24
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Crowdstrike三费与毛利、OPM变化(百万美元)
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行业数据
2025-04-16
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CRM自然年收入与经调OPM变化(百万美元,%)
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行业数据
2025-04-16
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索尼各业务OPM对比(2024Q1-Q3)
fCDkuJrliqEgICAgICAgfCBPUE0gICB8CnwtLS0tLS0tLS0tLS18LS0tLS0tLXwKfCBFVCZTICAgICAgIHwgMTEuMCUgfAp8IEZpbmFuY2UgICAgfCAyNC44JSB8CnwgRyZOUyAgICAgICB8IDEwLjUlIHwKfCBQaWN0dXJlcyAgIHwgNC4zJSAgfAp8IEkmU1MgICAgICAgfCAxNC41JSB8CnwgQWxsIG90aGVyICB8IC0xMS42JXwKfCBNdXNpYyAgICAgIHwgMTkuOCUgfAoK6LWE5paZ5p2l5rqQ77ya5YWs5Y+45YWs5ZGK44CB5Y2O5rOw56CU56m2
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行业数据
2025-02-20
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LG电子各业务OPM对比(2024Q1-Q3)
fCDkuJrliqEgfCBPUE0gfAp8IC0tLSB8IC0tLSB8CnwgSCZBIHwgOC40JSB8CnwgSEUgfCAyLjYlIHwKfCBWUyB8IDEuNyUgfAp8IEJTIHwgLTEuNiUgfAp8IElubm90ZWsgfCAzLjIlIHwKfCBPdGhlcnMgfCAxNy41JSB8CgrotYTmlpnmnaXmupDvvJrlhazlj7jlhazlkYrjgIHljY7ms7DnoJTnqbY=
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行业数据
2025-02-20
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行业数据
2026-07-30
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2026-07-30
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行业数据
2026-07-30
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IT 服务的 OPM 低于 Software,长期看在 10%左右。IT 服务公司尽管毛利率显著低于 Software,但到了 OPM 这一层其并不低于 Software 很多。长期看,IT 服务的OPM 比较稳定,但在 2020 年由于新冠疫情的确出现了一定程度的下滑。
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计算机行业美股软件及IT服务25年大复盘:穿越周期看计算机公司业绩及估值的锚-20220131(40页).pdf
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