Vanke and Poly, which one is better?

It seems that many people are discussing this issue recently: Vanke and Poly, who is more worthy of holding?

We compared various data from 2010 to 2011, including operating net cash flow, gross profit margin, gross profit margin-net profit margin (cost ratio), inventory turnover days, and income tax , and made a comparison between the two. .

Conclusion first:

1. Overall, Vanke is better than Poly (a little bit);

2. There is no meaning of black Poly. The point I want to express is: I hope that Poly will reach a market value of one trillion as soon as possible, so that Vanke is not too bad;

3. Regarding the point of view that Poly has a good father mentioned by everyone, I see it this way: father is the reason for excellence, not the result of excellence. And here only the results are compared.


1. Net operating cash flow

From this data, we can see whether the real money or fake money made by Fangkai Company. After all, the money that can be put in the pocket is the money.

Whether from 2010 to the present or in the past three years, Vanke’s operating net cash flow has far exceeded that of Poly. However, in 2021, Poly’s net cash flow will exceed that of Vanke, which may be the reason why Poly has been stronger than Vanke recently.

Depends how long it takes you to look at these two companies. Overall, Vanke wins.


2. Gross profit margin

This data can comprehensively see the brand power and various costs of the real estate company.

From 2010 to the present, Vanke has dominated, and in the past three years (especially the last one or two years), Poly has dominated. Among them, Poly’s dominant years are 2013-2015 and 2020-2021, which are all periods of industry shock.

According to the data, we can speculate that Vanke’s selling price will be more affected by the fluctuation of the industry cycle. There may be several reasons. 1. Vanke’s acquisition of land is subject to large fluctuations in the real estate market; 2. In the face of industry downturn, Vanke’s price reduction strategy is more decisive than Poly; 3. Vanke’s garbage. But in turn, when the industry goes up, it may be another story.

On the whole, each has its own advantages and disadvantages, and the overall poly is dominant at the moment.


3. Gross profit margin – net profit margin, operating cost rate

This data can be seen in the black iron era, the strength of the two companies’ management of dividends.

Vanke wins.


4. Inventory turnover days

Real estate development, from acquiring land to selling a house, is profitable. This data can see the speed of entry and exit.

On the whole, Vanke’s turnover days are much faster, and it has shown a significant downward trend in the past three years, which is in line with Vanke’s judgment on the era of black iron. On the other hand, it also means that the expansion rate of Vanke’s real estate business is not as fast as that of Poly.

The benevolent sees the benevolence and the wise sees the wisdom. This data has its own advantages and disadvantages.


5. Income tax

Income tax is also an indicator of how much money you make.

Vanke wins.



Finally, let me say the conclusion:

1. Overall, Vanke is better than Poly (a little bit);

2. Hope that Poly will reach a market value of one trillion as soon as possible.

Note: 1. The above comparison does not separate non-development businesses; 2. The impact of minority shareholders on the equity of the parent company is not considered.

@ @Today’s topic

$Vanke A(SZ000002)$

$Poly Development(SH600048)$

$Longfor Group(00960)$

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