Lots of Young People Wish Their Parents Had Set Better Financial Examples for Them. Here's How to Do Right by Your Kids

Lots of Young People Wish Their Parents Had Set Better Financial Examples for Them. Here's How to Do It Right by Your Kids 很多年轻人都希望父母能为他们树立更好的理财榜样。以下是如何正确对待孩子的方法

Parents spend many years reviewing their children's report cards. A recent study essentially turned the tables on that, with young adults reviewing their parents' performances, particularly in regard to financial matters. The findings weren't good: Generation Z (people between ages 12 and 27) is the least financially confident generation, and a third of them say their parents didn't set a good example for them.

There's a reason for the parents' poor performance and a reason why young people should feel more confident about their financial futures.

父母们多年来一直在审查孩子的成绩单。最近的一项研究彻底颠覆了这一现状，年轻人开始审视父母的表现，尤其是在财务方面。研究结果令人担忧：Z世代（12岁至27岁）是财务信心最低的一代，其中三分之一的人表示他们的父母没有为他们树立好榜样。

父母表现不佳是有原因的，年轻人也应该对自己的财务未来更有信心。

Why many parents set poor examples 为什么许多父母树立了不好的榜样

Before you blame your parents for not helping you get savvier, financially, put yourselves in their shoes. You might be lamenting that your school never taught you much about money, but your parents likely got even less financial schooling.

According to a 2023 Edward Jones survey, 80% of respondents said they never learned money skills in school. So, like most folks their age, your parents were just doing the best they could.

在责怪父母没能帮你变得更精明理财之前，不妨设身处地为他们着想。你或许会抱怨学校没教你多少理财知识，但你的父母接受的理财教育可能更少。

根据爱德华·琼斯2023年的一项调查，80%的受访者表示他们从未在学校学习过理财技能。所以，就像大多数同龄人一样，你的父母只是尽力而为而已。

Many ended up deep in debt or facing other financial troubles, often without realizing how dangerous it is to overuse a credit card and how debt at high-interest rates can balloon over time.

许多人最终深陷债务或面临其他财务困境，往往没有意识到过度使用信用卡的危险性以及高利率债务如何随着时间的推移而膨胀。

How parents today can set good examples 当今父母如何树立良好榜样

Here's what your parents might have done had they known more about financial matters, and what you might do with your own kids now or whenever you have them:

如果您的父母对财务问题了解更多，他们可能会采取以下措施；如果您现在或将来有孩子，您可能会采取以下措施：

• Talk about money frequently -- your financial goals, your financial challenges, how you're overcoming those challenges, your smartest and dumbest financial moves, etc.

• Show them your household budget and help them learn how much things cost.

• Have them watch you shop in stores, online, wherever; talk about how you're choosing to spend your money; and point out when you decide to postpone or cancel a planned purchase.

• Show them how to have fun without spending a lot of money, such as by hiking, playing board games, reading, playing sports with friends, and so on.

• At the right time, start discussing the power of long-term investing in stocks. Now is always the right time.  Show them how they might become millionaires or billionaires one day if they save and invest wisely.

• If you're an investor (and most of us should be since Social Security / CPF will not be enough to provide a comfortable retirement), let them see you investing. Talk about the investments you choose and why you choose them. Perhaps talk about companies of interest together. Eventually, help them start investing, too.

Basically, you want them to grow up fully aware of financial matters and of how to manage money sensibly.

• 经常谈论金钱——你的财务目标、财务挑战、你是如何克服这些挑战的、你最聪明和最愚蠢的理财举措等等。

• 向他们展示你的家庭预算，并帮助他们了解物价。

• 让他们观察你在商店、网上或任何地方购物；谈谈你是如何选择花钱的；并指出你何时决定推迟或取消计划中的购物。

• 向他们展示如何在不花太多钱的情况下获得乐趣，例如徒步旅行、玩棋盘游戏、阅读、与朋友一起运动等等。

• 在合适的时机，开始讨论长期投资股票的力量。现在永远是合适的时机。向他们展示，如果他们明智地储蓄和投资，他们将来可能会成为百万富翁或亿万富翁。

• 如果你是一名投资者（我们大多数人都应该是，因为社会保障/公积金不足以提供舒适的退休生活），让他们看到你在投资。谈谈你选择的投资项目以及你选择它们的原因。 或许可以一起讨论感兴趣的公司。最终，帮助他们开始投资。

总而言之，你希望他们长大后能够充分了解财务问题，并懂得如何理性地理财。

Why young people have a lot to be confident about

为什么年轻人有很多事情需要自信

Finally, no matter how much they've learned or not learned from their parents, young people don't necessarily have to despair over their financial futures, because those futures can be quite bright. Why? Simply because young people have a lot of something that's vital to wealth building, something that most of us have much less of -- and that's time.

最后，无论年轻人从父母那里学到了多少，或者没学到多少，他们不必对自己的财务未来感到绝望，因为未来可能一片光明。为什么？原因很简单，因为年轻人拥有许多对积累财富至关重要的东西，而这些东西是我们大多数人所缺乏的——那就是时间。

Check out the table below, which shows how money can grow over time. It assumes 8% average-annual growth, though no one knows exactly how quickly the market will grow over any particular period. In the past, it has averaged close to 10% over many decades.

Growing at 8% for ; $7,200 invested annually ($600 per month) ; $12,000 invested annually ($1,000 per month)

5 years ; $45,619 ; $76,032

10 years; $112,648; $187,746

15 years; $211,134; $351,892

20 years; $355,845; $593,076

25 years; $568,472; $947,452

30 years; $880,890; $1,468,150

35 years; $1,339,935; $2,233,226

40 years; $2,014,423; $3,357,372

50 years; $4,461,637; $7,436,061

Young people should see that once they're earning money, if they can regularly invest meaningful amounts, they can amass significant sums, which can help them reach all kinds of goals, such as a reliable car, fully-paid home, supporting a family, enjoying a comfortable retirement, and so on.

You -- and young people you know -- would do well to take some time to learn more about investing. And then teach others. For by teaching others, you learn more for yourself. 

下表显示了资金如何随时间增长。它假设年均增长率为 8%，但没有人确切知道市场在特定时期的增长速度。过去几十年，年均增长率接近 10%。

增长率为 8%；每年投资 7,200 美元（每月 600 美元）；每年投资 12,000 美元（每月 1,000 美元）

5 年; 45,619 美元；76,032 美元

10 年；112,648 美元；187,746 美元

15 年；211,134 美元；351,892 美元

20 年；355,845 美元；593,076 美元

25 年；568,472 美元 947,452 美元

30 年；880,890 美元；1,468,150 美元

35 年；1,339,935 美元；2,233,226 美元

40 年；2,014,423 美元；3,357,372 美元

50 年；4,461,637 美元；7,436,061 美元

年轻人应该明白，一旦他们开始赚钱，如果他们能够定期进行有意义的投资，就能积累大量资金，这可以帮助他们实现各种目标，例如拥有一辆可靠的汽车、一套全额付款的房子、养家糊口、享受舒适的退休生活等等。

你——以及你认识的年轻人——最好花些时间学习更多关于投资的知识。然后教给别人。因为通过教别人，你自己也会学到更多。

Investing Stock Market Basics(For Beginners 股票市场投资基础知识(适合初学者）

Key Points

• The stock market is a dynamic space that acts like a swap meet, auction house, and mall all rolled into one.

• Recognize the importance of long-term investing over trading for higher chances of positive returns.

• Learn the advantages of a diversified portfolio in reducing risk and stabilizing investment outcomes.

要点

• 股票市场是一个充满活力的空间，集跳蚤市场、拍卖行和购物中心于一体。

• 认识到长期投资比交易更重要，因为交易可以获得更高的正收益。

• 了解多元化投资组合在降低风险和稳定投资结果方面的优势。

While investing might seem daunting at first, it becomes much easier once you understand the stock market basics. There are three core concepts that all beginning investors need to grasp:

Three core concepts for beginning investors

1. How the stock market works

2. The difference between long-term investing and stock trading

3. The importance of a diversified portfolio

This guide will unravel each of these basic stock market concepts, giving you a solid investing foundation to build upon in the future.

虽然投资乍一看可能令人望而生畏，但一旦您了解了股市的基础知识，就会变得容易得多。所有新手投资者都需要掌握三个核心概念：

新手投资者的三个核心概念

1. 股市运作方式

2. 长期投资与股票交易的区别

3. 多元化投资组合的重要性

本指南将逐一讲解这些基本的股市概念，为您未来的投资奠定坚实的基础。

How the stock market works

The stock market is like a swap meet, auction house, and shopping mall all rolled into one.

As a swap meet or flea market

The stock market has many vendors, including individual and institutional investors (e.g., hedge funds, pension plans, and investment banks) who buy and sell various items, such as public companies listed on stock exchanges.

Notable stock market exchanges include the New York Stock Exchange (NYSE), Nasdaq Exchange, and over-the-counter (OTC) markets. Each has different listing requirements for companies that want to use its services to raise capital from investors.

As an auction house

Another aspect of the stock market is its auction-like pricing system. Unlike a retail store with a set price for each item, stock prices change constantly as buyers and sellers attempt to reach a market price for a company's stock.

Many internal and external factors affect stock prices. For example, a company's earnings and growth prospects (internal factors) and anything from an upcoming election to how investors feel about the economy's direction (external factors) can affect its share price.

股票市场如何运作

股票市场就像一个集跳蚤市场、拍卖行和购物中心于一体的综合体。

作为跳蚤市场或跳蚤市场

股票市场有许多供应商，包括个人投资者和机构投资者（例如对冲基金、养老金计划和投资银行），他们买卖各种商品，例如在证券交易所上市的上市公司。

著名的股票交易所包括纽约证券交易所 (NYSE)、纳斯达克交易所和场外交易市场 (OTC)。对于希望利用其服务从投资者那里筹集资金的公司，每个交易所都有不同的上市要求。

作为拍卖行

股票市场的另一个特点是其类似拍卖的定价体系。与零售商店对每件商品都有固定价格不同，股票价格随着买卖双方试图达成公司股票的市场价格而不断变化。

许多内部和外部因素都会影响股票价格。 例如，一家公司的盈利和增长前景（内部因素）以及从即将到来的选举到投资者对经济走向的看法（外部因素）等任何因素都会影响其股价。

As a shopping mall

Finally, the stock market has a shopping mall feel because it's a one-stop shop. It houses all publicly listed companies, enabling investors to buy and sell any publicly traded stock they want.

Stock market exchanges act as both primary and secondary markets for a company's stock. They allow companies to directly sell shares via initial public offerings (IPOs) to raise cash and expand their businesses.如同购物中心

最后，股票市场之所以给人一种购物中心的感觉，是因为它是一个一站式商店。它汇集了所有上市公司，让投资者可以买卖任何他们想买的公开交易股票。

股票交易所既是公司股票的一级市场，也是二级市场。它们允许公司通过首次公开募股 (IPO = Initial Public Offerings 首次公开募股 ) 直接出售股票，以筹集资金并扩展业务。

Companies can complete multiple secondary offerings of their stock when they need to raise additional funding, provided investors are willing to buy. Meanwhile, exchanges provide investors with liquidity since they can sell shares among each other.

当公司需要筹集额外资金时，只要投资者愿意购买，就可以进行多次股票增发。同时，交易所也为投资者提供了流动性，因为他们可以相互买卖股票。

What are bull and bear markets, corrections, and crashes?

While the stock market generally moves higher over time, it doesn't do so in a straight line. Investors have coined the following terms for big swings in stock prices:

Stock market correction

A 10% to 20% decline in a major market index, like the S&P 500, is called a stock market correction.

Bear market

A drop of more than 20% is a bear market.

Bull market

A bull market is a stock market index that has gained more than 20% from a recent bear market. Bull markets are often multiyear events driven by a period of economic expansion.

Stock market crash

A stock market crash is a sharp plunge in the major stock market indexes over a short period.

Stock market volatility

When stock market prices fluctuate very sharply, this is known as stock market volatility.

Generally, stock prices increase gradually as companies expand their operations and earnings as the economy grows, making their underlying businesses more valuable. For example, the average stock market return as measured by the S&P 500 index -- a collection of the 500 largest U.S. listed publicly traded stocks -- has historically increased more than 10% each year.

But there are also down periods. The worst market crash on record was the 1929 stock market crash, which occurred at the onset of the Great Depression. Concern about investing during an economic recession can trigger stock market sell-offs, although that's not the only factor that can cause a big market slump.

什么是牛市、熊市、回调和崩盘？

虽然股市通常会随着时间的推移而走高，但它并非直线上涨。投资者为股价的大幅波动创造了以下术语：

股市回调

主要市场指数（如标准普尔 500 指数）下跌 10% 到 20% 被称为股市回调。

熊市

跌幅超过 20% 被称为熊市。

牛市

牛市是指股市指数从近期熊市中上涨超过 20%。牛市通常是由经济扩张期驱动的多年事件。

股市崩盘

股市崩盘是指主要股市指数在短时间内急剧下跌。

股市波动

当股市价格波动非常剧烈时，这被称为股市波动。

 一般来说，随着经济增长，公司业务和盈利的扩大，股价会逐渐上涨，使其基础业务更有价值。例如，以标准普尔 500 指数（美国 500 只最大上市公司股票的集合）衡量的股市平均回报率历来每年增长超过 10%。

但股市也有低迷期。有记录以来最严重的股市崩盘是 1929 年大萧条初期发生的股市崩盘。经济衰退期间对投资的担忧可能引发股市抛售，尽管这并不是导致股市大幅下跌的唯一因素。

While stock market corrections can be challenging for beginning investors, they tend to be short-lived. Half of the stock market corrections of the past 50 years lasted three months or less.

Long-term investing vs. stock trading

We'd all love to get rich quickly. However, the stock market isn't a lottery or a casino. While some stocks deliver significant gains in short periods, they're outliers, not the norm. So, beginners should avoid stock trading or actively buying and selling stocks -- especially day trading -- and focus on long-term buy-and-hold investing.

Buy and hold

Ideally, an investor should buy a company's stock and hold it for three to five years, if not much longer.

Long-term investing is a better approach than stock trading for many reasons, including:

Higher probability of positive returns

While the stock market has had down years, it has gone up in 70 of the past 96 years, or about 73% of the time. So, even if you start investing right at the end of a long bull market run and endure a stomach-churning crash, simply holding for a few years will likely still yield a positive result.

虽然股市调整对新手投资者来说可能充满挑战，但这种调整往往是短暂的。过去50年中，一半的股市调整持续时间不超过三个月。

长期投资 (versus) vs.(对比） 股票交易

我们都渴望快速致富。然而，股市不是彩票或赌场。虽然有些股票在短期内能带来可观的收益，但它们只是个例，而非常态。因此，新手应避免股票交易或主动买卖股票——尤其是日内交易——而应专注于长期买入并持有的投资。

买入并持有

理想情况下，投资者应该买入一家公司的股票并持有三到五年，甚至更长时间。

长期投资比股票交易更好，原因有很多，包括：

获得正收益的概率更高

虽然股市经历过下跌的年份，但在过去的96年中，有70年（约占73%）上涨。 因此，即使你在长期牛市结束时开始投资并经历了令人心碎的崩盘，只要持有几年仍可能产生积极的结果。

Contrast that with trading, which could see an investor risk the permanent loss of their capital if they buy at the top and then give up and sell at the bottom, locking in losses.

Not missing out on even bigger gains

One of the biggest mistakes many beginning investors make is selling too early, which can cause them to miss out on much greater returns over the long term. For example, while it might be tempting to cash in after a 10% or even 100% gain, great companies tend to continue producing winning returns.

Benefiting from compound interest

While stocks can correct and crash without warning, they generally move higher. As noted earlier, the S&P 500 has historically produced a more than 10% total annualized return. Despite all the volatility, that general upward trend adds up over time. For example, investing $550 a month in an S&P 500 index fund has historically grown into a $1 million nest egg in about 30 years.

Saving on taxes

Stock sales are taxable unless they're made in a tax-deferred retirement account like an individual retirement account (IRA). For stocks held long-term (more than a year), the capital gains tax rate is either 0%, 10%, or 20% depending on your income and tax bracket.

However, short-term capital gains taxes are much higher because they correspond to an investor's ordinary income tax bracket, which ranges between 10% and 37%. Taxes can eat a significant portion of an investor's gains if they're trading in and out of stocks, especially those in higher tax brackets.

While buying and holding over the long term generally yields the best returns, it's also essential to know when to sell stocks. Situations where selling is a smart move include when the reason you bought the stock no longer applies, the company is being acquired, you are rebalancing your portfolio, you need the cash to make a big purchase, or you see a better investment opportunity.

相比之下，交易则不然，如果投资者在高点买入，然后在低点抛售，锁定损失，则可能面临永久性损失的风险。

不错过更大的收益

许多初级投资者常犯的最大错误之一就是过早抛售，这可能导致他们错失长期更高的回报。例如，虽然在获得 10% 甚至 100% 的收益后套现可能很诱人，但优秀的公司往往会持续创造丰厚的回报。

受益于复利

虽然股票可能会毫无征兆地回调和崩盘，但它们通常会走高。如前所述，标准普尔 500 指数的历史年化总回报率超过 10%。尽管波动很大，但这种总体上升趋势会随着时间的推移而累积。例如，每月向标准普尔 500 指数基金投资 550 美元，大约 30 年后，就能积累 100 万美元的财富。

 节省税款

除非股票是通过延税退休账户（例如个人退休账户 (IRA)）出售，否则出售股票需纳税。对于长期持有（超过一年）的股票，资本利得税率为 0%、10% 或 20%，具体取决于您的收入和税级。

然而，短期资本利得税要高得多，因为它们对应于投资者的普通所得税级，该税级在 10% 到 37% 之间。如果投资者买卖股票，税收会吞噬其相当一部分收益，尤其是那些税级较高的投资者。

虽然长期买入并持有通常能获得最佳回报，但了解何时卖出股票也至关重要。在以下情况下，卖出股票是明智之举：您买入股票的原因不再适用、公司被收购、您正在重新平衡投资组合、您需要现金进行大额购买，或者您看到了更好的投资机会。

Diversifying your portfolio

Another important investing essential is understanding the benefits of having a diversified portfolio. That means owning a diverse group of stocks across different stock market sectors.

Portfolio diversification reduces an investor's risk of permanent loss and their portfolio's overall volatility. In exchange, the returns from a diversified portfolio tend to be lower than what an investor might earn if they picked a single winning stock.

There are many ways to build a diversified stock portfolio, depending on whether you want to be an active or passive investor. An active investor will research stocks to find a collection of at least 10 companies across various industries that they believe will be winning investments over the long term.

Conversely, passive investors let others do that work for them. As a result, they can quickly diversify by purchasing shares of a mutual fund, index fund, or exchange-traded fund (ETF) that holds a diverse group of stocks. As mentioned, an S&P 500 index fund has 500 stocks, giving investors broad exposure across the largest U.S. stocks.

Why diversification matters:

Owning a diversified portfolio of stocks will help cushion the blow during a correction or bear market so that an investor doesn't experience an irreversible loss of capital.

However, active investors must also be careful not to over-diversify since holding too many stocks reduces returns without as much of an incremental benefit from a reduction in losses or volatility. Once a portfolio contains more than 100 stocks, it can become hard to manage and would likely just produce returns that match those of an index fund.

分散投资组合

另一个重要的投资要点是了解分散投资组合的好处。这意味着持有涵盖不同股票市场板块的多元化股票。

分散投资组合可以降低投资者遭受永久性损失的风险及其投资组合的整体波动性。作为交换，分散投资组合的回报往往低于投资者选择单只盈利股票的收益。

构建分散股票投资组合的方法有很多，具体取决于您想成为主动投资者还是被动投资者。主动投资者会研究股票，从各个行业中寻找至少10家他们认为长期来看会盈利的公司。

相反，被动投资者会让其他人为他们做这项工作。因此，他们可以通过购买持有多元化股票的共同基金、指数基金或交易所交易基金 (ETF) 的份额来快速实现分散投资。如前所述，标准普尔 500 指数基金包含 500 只股票，让投资者能够广泛投资于美国最大的股票市场。 

多元化投资为何重要：

拥有多元化的股票投资组合将有助于缓冲市场回调或熊市带来的冲击，避免投资者遭受不可逆转的资本损失。

然而，主动型投资者也必须注意不要过度多元化，因为持有过多的股票会降低收益，而亏损或波动性减少带来的增量收益却不如预期。一旦投资组合包含超过 100 只股票，管理起来就会变得困难，而且很可能只能产生与指数基金相当的收益。

The stock market can be a wealth-creating machine

Investing in stocks might appear complicated, but it's not once you grasp the basics. The seemingly chaotic blend of a flea market and auction house, where prices are moving all over the place, is a free market system that allows companies to raise equity capital from investors who are then free to buy and sell those shares openly.

Prices tend to fluctuate -- wildly at times -- which is why investors should take a long-term approach and own a diversified portfolio of stocks. Those who embrace these basic steps often enjoy an enriching experience as they benefit from the stock market's ability to produce high returns that compound over time.

股市可以成为创造财富的机器

投资股票看似复杂，但一旦掌握了基本知识，便会豁然开朗。股市看似混乱，如同跳蚤市场和拍卖行的结合体，价格四处波动，但实际上却是一个自由市场体系，它允许公司从投资者那里筹集股本，投资者随后可以自由地公开买卖这些股票。

股价往往会波动——有时波动幅度很大——因此，投资者应该采取长期策略，并持有多元化的股票投资组合。遵循这些基本步骤的人通常会获得丰富的经验，因为他们受益于股市能够产生高额、且随着时间推移而复合的回报。

3 Most Important Financial Statements

3份最重要的财务报表

Key Points

🗝️ •Income, Balance Sheet, and Cash Flow statements aid investors in assessing company performance and health.

🗝️ •Income Statement Analysis: Reveals revenue sources, expenses, and net income trends critical for evaluating profitability.

🗝️ •Balance Sheet Overview: Provides insights into assets, liabilities, and equity, aiding in assessing financial stability.

要点

🗝️ •损益表、资产负债表和现金流量表有助于投资者评估公司业绩和健康状况。

🗝️ •损益表分析：揭示评估盈利能力的关键收入来源、支出和净收入趋势。

🗝️ •资产负债表概览：提供对资产、负债和股东权益的洞察，有助于评估财务稳定性。

All publicly traded companies are required to release financial statements quarterly so investors can get a sense of how the business is doing. There are three main financial statements investors should be aware of: the income statement, the balance sheet, and the cash flow statement. In this article, we'll look at what each one is and the key information investors should pay attention to.

所有上市公司都必须每季度发布财务报表，以便投资者了解公司经营状况。投资者应该了解三种主要财务报表：损益表、资产负债表和现金流量表。本文将探讨每种报表的含义以及投资者应关注的关键信息。

What are company financial statements?

Financial statements are documents designed to give investors a snapshot of how a business is performing over a particular period. Financial statements answer some important questions investors should ask before buying a stock, such as:

Financial statements answer these questions:

•How does the business make its money?

•Have the business's revenue and earnings grown or shrunk?

•How much does the business own?

•How much does the business owe?

•Is there more money coming in or going out?

With those questions in mind, here's a quick guide to the three main types of financial statements and what investors should pay close attention to.

Income statement

A company's income statement tells you how much money a company brought in and how much of a profit (hopefully) it earned from that revenue.

The “top-line” number: The first major number on the income statement is a company's net sales or revenues, also known as the top-line number. In many cases a company's income statement will break down different sources of income. For example, Apple's (AAPL 2.22%) income statement breaks its revenue into product sales and service revenue.

Net income (earnings): From there, the company's cost of sales is subtracted to produce its gross income. Its operating costs (like research and development) are subtracted to calculate its operating income. Then income tax expenses are subtracted, and the result is the company's net income, also known as its "earnings." Net income is often expressed both as one large number and by share (the latter being earnings per share, or EPS).

Depending on the company, there might be other information on the income statement, such as sales broken down by region or product category.

The general takeaway

An income statement starts with the company's sales and shows step by step how it turns them into profit.

It's also worth mentioning that there are typically several columns of numbers on an income statement to show how the current period compares to the same period last year. You'll typically see the latest quarter compared with the same quarter a year before, and the company's year to date (or full year) compared to the same period from the prior year. Comparing the company's current income to the previous year’s provides a good sense of how the business is growing.

什么是公司财务报表？

财务报表旨在让投资者了解企业在特定时期的经营状况。财务报表解答了投资者在购买股票前应该提出的一些重要问题，例如：

财务报表回答了以下问题：

•企业如何盈利？

•企业的收入和盈利是增长还是缩减？

•企业拥有多少资产？

•企业负债多少？

•资金流入增加还是流出增加？

考虑到这些问题，以下是三种主要财务报表类型的快速指南，以及投资者应密切关注的内容。

损益表

公司的损益表会告诉您公司的收入以及（希望）从该收入中获得的利润。

“营业收入”数字：损益表中的第一个主要数字是公司的净销售额或净收入，也称为营业收入。 很多情况下，公司的损益表会细分不同的收入来源。例如，苹果公司（AAPL，股价 2.22%）的损益表将其收入细分为产品销售额和服务收入。

净利润（收益）：从中减去公司的销售成本，得出其总收入。再减去运营成本（例如研发费用），计算出其运营利润。然后，减去所得税费用，得出的结果就是公司的净利润，也称为“收益”。净利润通常以一个较大的数字表示，也可以按份额（后者为每股收益，简称 EPS earnings per share 每股收益）表示。

根据公司的不同，损益表上可能还会包含其他信息，例如按地区或产品类别细分的销售额。

总结

损益表从公司的销售额入手，逐步展示公司如何将其转化为利润。

还值得一提的是，损益表中通常会包含几列数字，以显示本期与去年同期的比较情况。 您通常会看到最新季度与去年同期的比较，以及公司年初至今（或全年）与去年同期的比较。将公司当前收入与去年收入进行比较，可以很好地了解业务的增长情况。

Balance sheet

A balance sheet gives you a snapshot of a company's financial condition at a given time (typically the end of a quarter). And as with the income statement, the data is typically presented as a comparison between the current period and the same time a year prior.

There are three sections on a balance sheet:

• Assets: What the company owns. This is further broken down into current and noncurrent assets. Current assets include liquid assets and assets that can be expected to become liquid within a year. Examples include cash, short-term Treasuries, accounts receivable, and inventory. Noncurrent assets include long-term investments, real estate, and equipment used in manufacturing, just to name a few.

• Liabilities: What the company owes. These are also divided into current and noncurrent. Current liabilities include payments a company will have to make within a year, such as accounts payable and short-term debt. Noncurrent liabilities include things like long-term debts.

• Shareholder's equity: Think of shareholder's equity as what the company would have if it shut down, sold all of its assets, and paid all of its debts. Shareholder’s equity is the difference between assets and liabilities and is the company's net worth.

资产负债表

资产负债表可以让你快速了解公司在特定时间点（通常是季度末）的财务状况。与损益表一样，资产负债表的数据通常以本期与去年同期的比较形式呈现。

资产负债表包含三个部分：

• 资产：公司拥有的资产。这进一步细分为流动资产和非流动资产。流动资产包括流动资产和预计在一年内变为流动资产的资产。例如现金、短期国债、应收账款和存货。非流动资产包括长期投资、房地产和制造设备等。

• 负债：公司所欠的款项。负债也分为流动负债和非流动负债。流动负债包括公司一年内必须支付的款项，例如应付账款和短期债务。非流动负债包括长期债务等。

 • 股东权益：股东权益是指公司倒闭、出售所有资产并偿还所有债务后所获得的资产。股东权益是资产与负债之间的差额，即公司的净值。

Cash flow statement

A company's cash flow statement shows the money flowing into and out of the business. This is broken down into a few categories:

•Operating activities: This includes the net income from the company's business, stock-based compensation, receivables collected, accounts payable that were paid, and other business-related items.

•Investing activities: If a business buys or sells stocks or bonds, this activity is included in this part of the cash flow statement. The same is true if the business buys or sells real estate or equipment.

•Financing activities: If a company issues new common stock, it is included in this part of the cash flow statement. Dividend payments are a common outflow in this section, as are stock buybacks. And if a company repays debt, that will appear as a line item here.

All of these categories added together produce the company's total cash flow. A positive number indicates that the company's cash increased during the period, while a negative number shows that the cash decreased. Just under the cash flow number will be a total of the cash and cash equivalents the company currently has.

现金流量表

公司的现金流量表显示了流入和流出业务的资金。它分为以下几类：

• 经营活动：包括公司业务的净利润、股票薪酬、收到的应收账款、已支付的应付账款以及其他与业务相关的项目。

• 投资活动：如果企业买卖股票或债券，则此活动包含在现金流量表的这一部分。如果企业买卖房地产或设备，则也是如此。

• 融资活动：如果公司发行新的普通股，则包含在现金流量表的这一部分。股息支付和股票回购是这一部分的常见支出。如果公司偿还债务，则会在此处显示为一个项目。

所有这些类别加在一起就是公司的总现金流量。正数表示公司在此期间的现金增加，负数表示现金减少。 现金流量数字的正下方是公司当前拥有的现金和现金等价物的总额。

Where to find company financial statements

You can get a company's financial statements straight from the source—the company itself. Simply go to the company's investor relations (IR) page and look for its most recent quarterly earnings report, which is usually under a "news," "press releases," or "financials" tab at the top of the page. Many companies keep their latest results as a focal point on their main IR page. For example, on Apple's investor relations page, the first item listed is a press release with the company's latest results. Directly on the press release is a link to the consolidated financial statements, which contains the three main documents discussed above.

There are certainly other ways to find a company's financial statements. For example, you can go directly to the SEC's website ( U.S. Securities and Exchange Commission) and look up the company's latest quarterly report. Additionally, your brokerage might offer a view of the financial statements as part of its stock quotes, which is an easy way to find them.

在哪里可以找到公司财务报表

您可以直接从来源——公司本身——获取公司的财务报表。只需访问公司的投资者关系 (IR; investor relations) 页面，查找其最新的季度收益报告即可。该报告通常位于页面顶部的“新闻”、“新闻稿”或“财务”选项卡下。许多公司会将最新业绩作为其主要 IR 页面的重点内容。例如，在苹果公司的投资者关系页面上，列出的第一项就是一份包含公司最新业绩的新闻稿。新闻稿上直接提供了合并财务报表的链接，其中包含上述三个主要文件。

当然还有其他方法可以查找公司的财务报表。例如，您可以直接访问美国证券交易委员会 (SEC) ( U.S. Securities and Exchange Commission) 的网站，查找公司最新的季度报告。此外，您的经纪公司可能会在其股票报价中提供财务报表视图，这是一种便捷的查找方式。

Who Owns Samsung? Overview and Shareholders, read here . 

谁是三星的所有者？概述和股东，请阅读此处。