行业比较数据跟踪：上周北上资金净流入122亿元，电气设备、电子等行业流入较多

上周北上资金净流入122亿元，电气设备、电子等行业流入较多——行业比较数据跟踪20210505请仔细阅读在本报告尾部的重要法律声明证券研究报告|金融工程报告曹春晓SAC NO：S1120520070003杨国平SAC NO：S11205200700022021年05月05日 2（一）行业基本面与估值（二）行业资金流动（三）行业综合打分风险提示目录 截至2021年4月30日，全部A股PE（TTM）为19.65倍，位于2009年以来59.54%分位数；PB_LF 1.81倍，位于2009年以来37.40%分位数。截至2021年4月30日，主板/创业板/科创板PE（TTM）分别为15.23倍、74.37倍、68.16倍，位于2009年以来47.87%、67.95%、18.94%分位数；PB_LF分别为1.43倍、5.39倍、5.94倍，位于2009年以来21.39%、68.77%、18.94%分位数。3三大板块估值分位数回落明显1.1 各板块估值分位数回落明显资料来源：Wind，华西证券研究所全部A股19.6538.2511.5118.3159.54%全部A股(非金融石油石化)31.5976.9916.8029.5655.21%主板15.2337.709.7515.5147.87%创业板74.37204.6628.1063.8167.95%创业板(剔除温氏股份)69.11218.1128.1065.2956.15%科创板68.16172.0748.1984.1418.94%全部A股1.813.861.341.9437.40%全部A股(非金融石油石化)2.775.561.752.7651.81%主板1.433.811.191.6621.39%创业板5.3913.952.204.4868.77%创业板(剔除温氏股份)5.4713.952.204.4970.02%科创板5.9412.944.976.9018.94%主要板块对比2021/4/30最大值最小值中位数当前估值所处历史的百分位PE_TTM估值箱型图估值PE(TTM)估值PB_LF 截至2021年4月30日，主要指数中，上证50、沪深300、深证100、创业板指PE（TTM）分别为11.87倍、13.97倍、29.65倍和58.61倍，分别位于历史72.55%、65.85%、84.56%和68.43%分位数，PB_LF分别为1.39倍、1.62倍、4.39倍和7.88倍，位于历史55.14%、51.54%、96.94%和90.25%分位数。1.2 中证500估值位于历史相对较低水平中证500指数估值处于历史相对较低水平资料来源：Wind，华西证券研究所上证综指13.9234.508.9014.2546.57%上证5011.8727.596.9410.2572.55%上证18011.8430.037.1211.1859.18%沪深30013.9731.918.0112.6865.85%中证50024.4892.7516.0031.4710.38%中证100034.28144.8218.9448.0415.68%深证10029.6564.5712.8821.7084.56%深证成指28.4763.4712.1723.4066.15%创业板指58.61137.8627.0452.2968.43%创业板5057.59141.8427.2654.9257.11%万得全A19.6438.2411.5118.3059.48%上证综指1.463.851.211.6127.96%上证501.393.731.021.3555.14%上证1801.323.821.091.4134.63%沪深3001.623.901.171.6151.54%中证5002.055.891.512.5219.18%中证10002.548.141.712.9232.73%深证1004.395.561.812.8696.94%深证成指3.425.751.702.9479.06%创业板指7.8815.012.514.9090.25%创业板509.3316.233.246.0188.79%万得全A1.933.961.402.0041.60%估值PE(TTM)估值PB_LF主要指数对比2021/4/30最大值最小值中位数当前估值所处历史的百分位估值箱型图 资料来源：Wind，华西证券研究所创业板指/沪深300相对PE位于历史52.45%分位数截至2021年4月30日，创业板指相对于沪深300指数相对PE（TTM）4.20倍，位于历史52.45%分位数，相对PB_LF为4.85倍，位于历史91.49%分位数。资料来源：Wind，华西证券研究所创业板指/沪深300相对PB位于历史91.49%分位数1.3 创业板指/沪深300相对PE小幅回升5 6资料来源：Wind，华西证券研究所申万一级行业估值与历史分位数1.4 食品饮料、休闲服务等行业估值水平位于历史高位2021/4/30最大值最小值中位数当前估值所处历史的百分位2021/4/30最大值最小值中位数农林牧渔20.43119.6414.9543.076.61%3.357.372.333.67采掘14.4388.0110.3917.8317.43%1.145.840.901.70化工30.2076.5513.0127.7160.25%2.635.301.532.54钢铁16.36153.735.3423.4631.31%1.182.790.721.28有色金属40.91140.3112.9946.2039.96%2.937.181.693.13电子44.73118.1022.7450.1935.99%4.206.941.653.55家用电器21.8632.3110.5517.1279.41%3.584.851.773.10食品饮料50.5262.9616.5530.7497.97%9.3912.663.005.44纺织服装32.3063.1415.4129.3259.28%1.876.231.502.35轻工制造29.17113.2914.2335.7331.15%2.626.391.452.39医药生物45.1474.3723.4938.6584.45%5.018.352.564.30公用事业18.3874.3813.7823.2914.02%1.434.541.262.10交通运输22.0043.299.9519.7662.49%1.533.971.091.73房地产8.2750.877.8815.801.01%1.044.701.041.98商业贸易26.8471.3813.1227.2648.37%1.415.511.272.34休闲服务120.69209.6924.9247.0194.76%8.349.802.073.82综合47.82120.5520.7145.0854.51%2.397.751.122.94建筑材料14.7550.699.9823.8519.83%2.144.391.502.25建筑装饰8.8350.117.8814.951.34%0.833.930.781.68电气设备45.2699.9920.3240.1576.64%4.037.421.463.21国防军工57.05245.8224.1362.3439.96%2.858.381.853.24计算机55.34159.7029.4852.3756.68%3.6915.762.364.24传媒30.72141.8419.4946.278.82%2.6211.481.703.77通信36.1995.069.2340.7923.97%2.026.601.322.67银行7.5119.264.506.8571.17%0.713.480.641.01非银金融14.6366.4910.8018.4010.49%1.605.491.431.99汽车29.6050.289.8018.3086.39%2.134.451.352.30机械设备27.95136.0712.8130.3037.72%2.656.211.602.7378.89%78.96%95.70%23.09%申万一级行业对比PE（TTM）PB_LF当前估值所处历史的百分位39.23%58.68%78.22%9.68%40.83%0.04%7.48%99.10%28.72%40.30%0.57%72.45%47.47%27.92%18.98%10.15%5.21%5.58%42.33%32.99%11.01%56.24%43.37%41.10% 7申万一级行业盈利增速与ROE水平资料来源：Wind，华西证券研究所1.5 21Q1采掘、化工、机械设备等归母净利润增速达到历史高位 8申万一级行业市值集中度、强势股占比与MA多头排列打分资料来源：Wind，华西证券研究所1.6 医药生物、采掘、有色金属等行业MA多头排列得分较高农林牧渔190362001203712851.24%29.79%18.09%-2.77%0.27采掘216163231815427564.62%51.52%65.15%12.61%0.93化工52223133385129747.13%40.86%42.39%13.28%0.73钢铁9802272789121930.13%66.67%77.78%26.08%0.87有色金属241221812022315135.15%49.62%46.62%20.25%0.93电子683392164720314948.65%40.82%27.85%1.47%0.67家用电器188812661626022973.61%64.29%44.29%3.54%0.40食品饮料739786386884759474.58%53.45%41.38%14.71%0.87纺织服装64706838224026.73%55.79%30.53%-0.70%0.47轻工制造131288997036738.37%42.07%38.62%7.39%0.93医药生物883762386145316544.95%77.69%36.56%10.15%1.00公用事业265991412110011246.47%29.79%34.57%1.26%0.67交通运输282132332188518141.06%52.50%37.50%0.07%0.33房地产200211551788114045.90%42.19%18.75%-6.46%0.00商业贸易79858263326531.48%50.52%27.84%-13.00%0.07休闲服务8853233837422678.64%72.97%59.46%28.48%0.87综合25406519365039.45%28.21%25.64%4.39%0.80建筑材料11927163884912147.10%31.51%30.14%5.51%0.93建筑装饰14600103120378553.27%32.39%24.65%-3.88%0.13电气设备425671833185213759.82%39.66%29.74%21.83%0.87国防军工145291691121113034.45%13.95%12.79%-8.62%0.07计算机29784112221118340.27%23.77%7.55%-14.48%0.00传媒17304101133297735.32%43.27%18.13%-10.81%0.07通信99968979967144.26%21.62%8.11%-20.01%0.00银行109587288471184187334.67%15.79%34.21%8.72%0.67非银金融674077754496251748.05%20.69%10.34%-9.74%0.13汽车301101502132310653.03%46.23%32.16%6.46%0.40机械设备3582884252305946.69%40.85%27.00%5.02%0.40