成長股15條清單

By Philip A. Fisher

  1. 公司的產品或服務是否有足夠的市場潛力，以保證企業的銷售額至少在未來幾年內大幅增加?
    Does the company have the products or services with sufficient market potential to make possible a sizeable increase in sales for at least several years? 
  2. 即使當前的產品已經非常有吸引力，並且已經最大程度貢獻收入增長，管理層是否決定繼續開發新產品或流程，從而進一步推動潛在銷售增長？
    Does the management have a determination to continue to develop products or processes that will still further increase total sales potential when the growth potentials of currently attractive product lines have largely been exploited? 
  3. 公司的研發投入相對於他的經濟規模來說有多高效？
    How effective are the company’s research and development efforts in relation to its size? 
  4. 公司的銷售組織水平是否高於平均？
    Does the company have an above-average sales organization? 
  5. 公司是否具有可觀的利潤率？
    Does the company have a worthwhile profit margin? 
  6. 公司何以維持或提高利潤率？
    What is the company doing to maintain or improve profit margins? 
  7. 公司是否有傑出的勞資關係？
    Does the company have outstanding labor and personnel relations? 
  8. 公司的執行管理是否優秀？
    Does the company have outstanding executive relations? 
  9. 公司管理是否有足夠的深度？
    Does the company have depth to its management? 
  10. 公司的成本分析和會計控制怎樣？
    How good are the companies’ cost analysis and accounting controls?
  11. 公司的有哪些與眾不同的特點以保持他的競爭優勢？
    Are there other aspects of the business somewhat peculiar to the industry involved which will give the investor important clues as to how outstanding the company may be in relation to its competition? 
  12. 公司對短期或長期的盈利展望如何？
    Does the company have a short-range or long-range outlook regarding profits? 
  13. 在可預見的未來，公司的成長是否需要更多的股權融資？
    In the foreseeable future, will the growth of the company require sufficient equity financing so that the larger number of shares than outstanding will largely cancel the existing stockholders’ benefit from this anticipated growth? 
  14. 管理層是否在企業順境時暢所欲言，而在面對困境時保持緘默？
    Does the management talk freely to investors about its affairs when things are going well but clam up when troubles and disappointments occur? 
  15. 公司誠信管理如何？
    Does the company have a management of unquestionable integrity?