가치 평가
P/E, P/S, P/B, EV/EBITDA 비율 — 주식이 비싼가요, 싼가요?
지표
5년 추세
QGEN
5년 평균
동종업계 중앙값
결론
P/E
23.15년 평균 ≈45.5
≈45.5
·
·
P/S
4.75년 평균 ≈5.1
≈5.1
·
·
P/B
2.65년 평균 ≈2.9
≈2.9
·
·
EV / EBITDA
15.65년 평균 ≈21.0
≈21.0
·
·
Price / FCF (주가 / FCF)
21.55년 평균 ≈23.7
≈23.7
·
·
Price / Cash Flow (주가 / 현금 흐름)
14.95년 평균 ≈17.2
≈17.2
·
·
EV / Revenue (EV / 매출)
4.95년 평균 ≈5.3
≈5.3
·
·
EV / FCF
22.75년 평균 ≈24.7
≈24.7
·
·
Price / Tangible Book (주가 / 유형 장부 가치)
14.15년 평균 ≈14.9
≈14.9
·
·
동종 기업 중앙값은 지표별로 표준화된 기준으로 계산되며, 이 주식에 표시된 TTM/MRQ 기준과 항상 일치하지 않을 수 있습니다.
수익성
총, 영업 및 순이익률; ROE, ROA, ROIC
지표
5년 추세
QGEN
5년 평균
동종업계 중앙값
결론
Gross Margin (매출 총이익률)
62.2%5년 평균 ≈60.6%
≈60.6%
·
·
Operating Margin (영업이익률)
22.3%5년 평균 ≈20.2%
≈20.2%
·
·
EBITDA Margin (EBITDA 마진)
31.6%5년 평균 ≈30.0%
≈30.0%
·
·
Pretax Margin (세전 마진)
23.5%5년 평균 ≈20.6%
≈20.6%
·
·
Net Profit Margin (순이익률)
20.3%5년 평균 ≈16.9%
≈16.9%
·
·
ROA
7.1%5년 평균 ≈5.9%
≈5.9%
·
·
ROE
11.6%5년 평균 ≈10.7%
≈10.7%
·
·
ROIC
7.4%5년 평균 ≈6.7%
≈6.7%
·
·
재무 건전성
부채, 유동성, 지급능력 — 대차대조표 건전성
지표
5년 추세
QGEN
5년 평균
동종업계 중앙값
결론
Debt / Equity (부채 / 자기자본 비율)
0.45년 평균 ≈0.5
≈0.5
·
·
Current Ratio (유동비율)
3.95년 평균 ≈2.7
≈2.7
·
·
Quick Ratio (당좌 비율)
2.95년 평균 ≈2.0
≈2.0
·
·
Long-Term Debt / Equity (장기 부채 / 자기 자본)
0.45년 평균 ≈0.4
≈0.4
·
·
성장
매출, EPS 및 순이익 성장률: YoY, 3년 CAGR, 5년 CAGR
이 비율 그룹에 대한 데이터가 아직 없습니다.
이 비율 그룹을 계산하기에 기본 데이터가 아직 충분하지 않습니다.
주당 지표
EPS, 주당 순자산, 주당 현금 흐름, 주당 배당금
지표
5년 추세
QGEN
5년 평균
동종업계 중앙값
결론
EPS (Diluted) (EPS (희석))
$1.945년 평균 ≈$1.57
≈$1.57
·
·
Revenue / Share (주당 매출)
$9.555년 평균 ≈$9.18
≈$9.18
·
·
Cash Flow / Share (주당 현금 흐름)
$2.995년 평균 ≈$2.77
≈$2.77
·
·
Cash / Share (주당 현금)
$3.855년 평균 ≈$3.22
≈$3.22
·
·
자본 효율성
자산 회전율, 재고 회전율, 매출채권 회전율
지표
5년 추세
QGEN
5년 평균
동종업계 중앙값
결론
Asset Turnover (자산 회전율)
0.35년 평균 ≈0.3
≈0.3
·
·
Inventory Turnover (재고 회전율)
2.75년 평균 ≈2.5
≈2.5
·
·
Receivables Turnover (매출 채권 회전율)
5.65년 평균 ≈5.8
≈5.8
·
·
Revenue / Employee (연간 매출액 ÷ 직원 수(yfinance 보고 인원수). 파생 — 저장된 SEC-XBRL 개념이 아님.)
≈$380.0K
·
·
·
가치 · ≈ 5년 평균 · 산업 중앙값 · 중앙값 대비 평가
배당금
배당 수익률, 지급 비율, 배당 이력, 5년 CAGR
13
배당 수익률0.55%
지급 비율12.8%
연간 지급액≈$0.35연별 납부
배당락일
금액
통화
수익률
7월 7, 2026
$0.35
USD
≈0.90%
7월 2, 2025
$0.25
USD
≈0.51%
1월 30, 2024
$1.36
USD
≈3.1%
1월 25, 2017
$1.15
USD
≈4.0%
12월 27, 2002
$0.03
USD
≈0.58%
12월 26, 2002
$0.00
USD
≈0.04%
실적 기록
EPS 실제 vs 예상, 서프라이즈 %, 달성률, 다음 실적 발표일
14
평균 서프라이즈0.66%
다음 실적11월 02, 2026
기간
보고서
EPS Actual
EPS 예상
서프라이즈
2026년 6월 30일
8월 3, 2026
$0.62
$0.61
1.6%
2026년 3월 31일
$0.54
$0.55
-2.1%
2025년 12월 31일
$0.62
$0.64
-3.0%
2025년 9월 30일
$0.64
$0.63
2.1%
2025년 6월 30일
$0.63
$0.65
-2.4%
2025년 3월 31일
$0.58
$0.54
7.8%
전체 기본 지표
연도별 모든 지표 — 손익계산서, 대차대조표, 현금흐름
15
손익계산서17
지표
추세
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Revenue
$2.09B
$1.98B
$1.97B
$2.14B
$2.25B
$1.87B
$1.53B
$1.50B
$1.42B
$1.34B
$1.28B
$1.34B
Cost of Revenue
$791M
$1.01B
$732M
$757M
$801M
$638M
$521M
$501M
$495M
$493M
$454M
$480M
Gross Profit
$1.30B
$967M
$1.23B
$1.38B
$1.45B
$1.23B
$1.01B
$1.00B
$923M
$845M
$827M
$865M
SG&A Expense
$126M
$113M
$119M
$130M
$128M
$112M
$112M
$105M
$102M
·
·
·
Operating Expenses
$834M
$870M
$824M
$853M
$821M
$846M
$1.03B
$734M
$769M
$746M
$647M
$704M
Operating Income
$466M
$98M
$410M
$531M
$630M
$386M
$-26M
$267M
$153M
$99M
$179M
$162M
Interest Expense
·
·
$53M
$58M
$54M
$71M
$74M
$67M
$50M
$39M
$37M
$39M
Interest Income
$64M
$68M
$79M
$33M
$10M
$10M
$22M
$21M
$11M
$7M
$5M
$4M
Other Non-op
$-7M
$-739.0K
$-6M
$7M
$41M
$114M
$432.0K
$6M
$-4.0K
$-10M
$-11M
$-7M
Pretax Income
$490M
$121M
$430M
$513M
$626M
$439M
$-78M
$226M
$114M
$57M
$136M
$119M
Income Tax
$65M
$38M
$89M
$89M
$113M
$80M
$-36M
$35M
$74M
$-23M
$6M
$2M
Net Income
$425M
$84M
$341M
$423M
$513M
$359M
$-41M
$190M
$40M
$80M
$130M
$116M
EPS (Basic)
$1.96
$0.38
$1.50
$1.86
$2.25
$1.57
$-0.18
$0.84
$0.18
$0.34
$0.56
$0.50
EPS (Diluted)
$1.94
$0.37
$1.48
$1.84
$2.21
$1.53
$-0.18
$0.82
$0.17
$0.34
$0.55
$0.48
Shares (Basic)
217,219,000
222,619,000
228,146,000
227,577,000
227,983,000
228,427,000
226,777,000
226,640,000
228,074,000
234,800,000
233,483,000
232,644,000
Shares (Diluted)
218,880,000
224,717,000
230,619,000
230,136,000
232,034,000
234,214,000
226,777,000
233,456,000
233,009,000
238,993,000
238,647,000
242,806,000
EBITDA
$660M
$301M
$615M
$740M
$845M
$591M
$205M
$473M
$370M
$312M
$367M
$362M
대차대조표29
지표
추세
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Cash & Equivalents
$839M
$664M
$668M
$731M
$881M
$598M
$624M
$1.16B
$658M
$439M
$290M
$393M
Short-term Investments
$260M
$489M
$390M
$688M
$185M
$117M
$130M
$235M
$359M
$93M
$131M
$184M
Receivables
$403M
$349M
$382M
$324M
$362M
$381M
$385M
$352M
$329M
$278M
$274M
$265M
Inventory
$302M
$279M
$398M
$358M
$328M
$291M
$171M
$163M
$156M
$137M
$137M
$132M
Prepaid Expense
$192M
$178M
$310M
$294M
$355M
$237M
$105M
$109M
$99M
$67M
$70M
$114M
Current Assets
$2.00B
$1.96B
$2.15B
$2.39B
$2.11B
$1.62B
$1.57B
$2.16B
$1.65B
$1.04B
$961M
$1.15B
PP&E (Net)
$924M
$754M
$765M
$662M
$638M
$559M
$455M
$512M
$494M
$437M
$443M
$428M
PP&E (Gross)
$1.39B
$1.27B
$1.28B
$1.17B
$1.27B
$1.19B
$1.15B
$1.12B
$1.06B
$888M
$853M
$821M
Accum. Depreciation
$465M
$516M
$517M
$503M
$632M
$630M
$699M
$603M
$565M
$451M
$410M
$393M
Goodwill
$2.70B
$2.43B
$2.48B
$2.35B
$2.35B
$2.36B
$2.14B
$2.11B
$2.01B
$1.93B
$1.88B
$1.89B
Intangibles
$386M
$304M
$527M
$545M
$627M
$726M
$632M
$475M
$499M
$557M
$636M
$727M
Other Non-current Assets
$275M
$247M
$197M
$203M
$231M
$162M
$188M
$160M
$120M
$283M
$261M
$258M
Total Assets
$6.28B
$5.69B
$6.12B
$6.29B
$6.15B
$5.87B
$5.24B
$5.75B
$5.04B
$4.31B
$4.18B
$4.45B
Accounts Payable
$73M
$83M
$84M
$99M
$101M
$118M
$85M
$69M
$59M
$51M
$52M
$46M
Accrued Liabilities
$57M
$52M
$70M
$62M
$54M
$51M
$39M
$263M
$242M
$230M
$192M
$224M
Current Liabilities
$512M
$1.04B
$1.08B
$975M
$1.52B
$572M
$951M
$972M
$325M
$308M
$268M
$432M
Capital Leases
$129M
$97M
$79M
$71M
$77M
·
·
$22.0K
$57.0K
$2M
$2M
$4M
Deferred Tax
·
·
·
·
$38M
$39M
$23M
$63M
$77M
$41M
$70M
$117M
Other Non-current Liabilities
$337M
$241M
$207M
$218M
$247M
$187M
$106M
·
·
$6M
$0
$207M
Long-term Debt
$1.65B
$1.39B
$1.51B
$1.86B
$1.94B
$1.92B
$1.71B
$2.17B
$1.76B
$1.07B
$1.05B
$1.17B
Total Debt
$1.65B
$1.39B
$1.51B
$1.86B
$1.94B
$1.92B
$1.71B
$2.17B
$1.76B
$1.07B
$1.06B
$1.17B
Common Stock
$3M
$3M
$3M
$3M
$3M
$3M
$3M
$3M
$3M
$3M
$3M
$3M
Paid-in Capital
$1.44B
$1.67B
$1.92B
$1.87B
$1.82B
$1.83B
$1.78B
$1.74B
$1.63B
$1.79B
$1.77B
$1.82B
Retained Earnings
$2.75B
$2.45B
$2.46B
$2.16B
$1.79B
$1.32B
$1.18B
$1.38B
$1.25B
$1.26B
$1.21B
$1.13B
Treasury Stock
$32M
$75M
$133M
$160M
$190M
$118M
$112M
$179M
$119M
$120M
$152M
$167M
AOCI
$-377M
$-475M
$-434M
$-404M
$-327M
$-244M
$-310M
$-311M
$-221M
$-334M
$-259M
$-135M
Stockholders' Equity
$3.78B
$3.57B
$3.81B
$3.47B
$3.10B
$2.80B
$2.54B
$2.63B
$2.54B
$2.61B
$2.57B
$2.66B
Liabilities + Equity
$6.28B
$5.69B
$6.12B
$6.29B
$6.15B
$5.87B
$5.24B
$5.75B
$5.04B
$4.31B
$4.18B
$4.45B
Shares Outstanding
217,685,000
223,904,000
230,829,000
230,829,000
230,829,000
230,829,000
230,829,000
·
·
·
·
·
현금 흐름20
지표
추세
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
D&A
$194M
$203M
$205M
$208M
$215M
$205M
$231M
$206M
$216M
$213M
$191M
$201M
Stock-based Comp
$50M
$44M
$47M
$50M
$38M
$41M
$66M
$40M
$34M
$28M
$24M
$41M
Deferred Tax
$-20M
$-23M
$11M
$-10M
$-5M
$-7M
$-55M
$-23M
$60M
$-64M
$-32M
$-40M
Amort. of Intangibles
$70M
$85M
$94M
$94M
$104M
$103M
$123M
$119M
$134M
$138M
$132M
$133M
Restructuring
·
·
·
·
·
·
·
·
·
$79M
·
·
Other Non-cash
$5M
$366M
$-145M
$44M
$-122M
$-141M
$130M
$-54M
$-65M
$86M
$9M
$-30M
Operating Cash Flow
$654M
$674M
$459M
$715M
$639M
$458M
$331M
$359M
$287M
$342M
$317M
$288M
CapEx
$201M
$167M
$150M
$129M
$190M
$133M
$118M
$110M
$90M
$75M
$98M
$87M
Investing Cash Flow
$-305M
$-249M
$-88M
$-727M
$-202M
$-443M
$-222M
$-211M
$-464M
$-179M
$-146M
$-408M
Debt Issued
$742M
$494M
$0
$371M
$0
$498M
$0
$0
$330M
$0
$0
$717M
Net Debt Issued
$208M
$-107M
$-400M
$-109M
$-41M
$201M
$-506M
$0
$330M
$-7M
$-252M
$330M
Stock Issued
·
·
$163.0K
$121.0K
$8M
$8M
$2M
$4M
$6M
$6M
$10M
$12M
Stock Repurchased
$280M
$292M
$0
$0
$100M
$64M
$74M
$105M
$61M
$0
$21M
$127M
Net Stock Activity
$-280M
$-292M
$163.0K
$121.0K
$-92M
$-56M
$-72M
$-100M
$-55M
$6M
$-11M
$-115M
Dividends Paid
$54M
$0
$0
·
·
·
·
·
·
·
·
·
Financing Cash Flow
$-179M
$-423M
$-434M
$-126M
$-150M
$-50M
$-639M
$360M
$387M
$-11M
$-259M
$193M
Net Change in Cash
$175M
$-5M
$-63M
$-150M
$283M
$-31M
$-530M
$501M
$219M
$149M
$-103M
$62M
Taxes Paid
$17M
$16M
$82M
$120M
$102M
$43M
$41M
$29M
$40M
$23M
$34M
$13M
Free Cash Flow
$453M
$506M
$310M
$586M
$449M
$325M
$213M
$250M
$197M
$267M
$220M
$201M
Levered FCF
·
·
$267M
$538M
$404M
$267M
$173M
$193M
$179M
$212M
$184M
$162M
수익성8
지표
추세
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Gross Margin
62.2%
48.9%
62.8%
64.6%
64.4%
65.9%
65.9%
66.6%
65.1%
63.1%
64.5%
64.3%
Operating Margin
22.3%
4.9%
20.9%
24.8%
28.0%
20.7%
-1.7%
17.8%
10.8%
7.4%
13.7%
12.0%
Net Margin
20.3%
4.2%
17.4%
19.8%
22.8%
19.2%
-2.7%
12.7%
2.9%
6.0%
9.9%
8.7%
Pretax Margin
23.5%
6.1%
21.9%
23.9%
27.8%
23.5%
-5.1%
15.0%
8.1%
4.2%
10.3%
8.8%
EBITDA Margin
31.6%
15.2%
31.3%
34.5%
37.5%
31.6%
13.5%
31.5%
26.1%
23.3%
28.7%
26.9%
ROA
7.1%
1.4%
5.5%
6.8%
8.5%
6.4%
-0.75%
3.5%
0.86%
1.9%
2.9%
2.7%
ROE
11.6%
2.3%
9.4%
12.9%
17.4%
13.5%
-1.6%
7.4%
1.6%
3.1%
4.9%
4.3%
ROIC
7.4%
1.4%
6.1%
8.2%
10.2%
6.7%
-0.33%
4.7%
1.3%
3.8%
4.7%
4.2%
유동성 및 지급능력5
지표
추세
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Current Ratio
3.9
3.6
2.0
2.5
1.4
2.7
1.7
2.2
5.1
3.4
3.6
2.7
Quick Ratio
2.9
2.8
1.3
1.8
0.9
1.8
1.2
1.8
4.1
2.6
2.6
2.0
Debt / Equity
0.4
0.4
0.4
0.5
0.6
0.7
0.7
0.8
0.7
0.4
0.4
0.4
LT Debt / Equity
0.4
0.4
0.2
0.4
0.4
0.7
0.6
0.6
0.7
0.4
0.4
0.4
Interest Coverage
·
·
7.7
9.1
11.6
5.4
-0.4
4.0
3.1
2.5
4.7
4.1
효율성3
지표
추세
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Asset Turnover
0.3
0.3
0.3
0.3
0.4
0.3
0.3
0.3
0.3
0.3
0.3
0.3
Inventory Turnover
2.7
3.0
1.9
2.2
2.6
2.8
3.1
3.1
3.4
3.6
3.4
3.7
Receivables Turnover
5.6
5.4
5.6
6.2
6.1
4.9
4.1
4.4
4.7
4.8
4.8
5.1
주당6
지표
추세
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Book Value / Share
$17.36
$15.93
$16.50
$15.02
·
·
·
·
·
·
·
·
Revenue / Share
$9.55
$8.80
$8.52
$9.31
$9.70
$7.99
$6.73
$6.43
$6.08
$5.60
$5.40
$5.57
Cash Flow / Share
$2.99
$3.00
$1.99
$3.11
$2.75
$1.95
$1.46
$1.54
$1.23
$1.43
$1.34
$1.19
Cash / Share
$3.85
$2.96
$2.89
$3.17
·
·
·
·
·
·
·
·
Dividend / Share
$0.25
·
·
·
·
·
·
·
·
·
·
·
EPS (TTM)
$1.94
$0.37
$1.48
$1.84
$2.21
$1.53
$-0.18
$0.82
$0.17
$0.34
$0.55
$0.48
가치 평가 (TTM)17
지표
추세
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Revenue TTM
$2.09B
$1.98B
$1.97B
$2.14B
$2.25B
$1.87B
$1.53B
$1.50B
$1.42B
$1.34B
$1.28B
$1.34B
Net Income TTM
$425M
$84M
$341M
$423M
$513M
$359M
$-41M
$190M
$40M
$80M
$130M
$116M
Market Cap
$9.79B
$9.97B
$10.35B
$11.88B
·
·
·
·
·
·
·
·
Enterprise Value
$10.34B
$10.21B
$10.80B
$12.32B
·
·
·
·
·
·
·
·
P/E
23.2
120.4
30.3
28.0
26.0
35.6
-193.8
43.4
187.8
88.4
53.9
52.4
P/S
4.7
5.0
5.3
5.5
·
·
·
·
·
·
·
·
P/B
2.6
2.8
2.7
3.4
·
·
·
·
·
·
·
·
P / Tangible Book
14.2
11.9
12.8
20.9
·
·
·
·
·
·
·
·
P / Cash Flow
15.0
14.8
22.5
16.6
·
·
·
·
·
·
·
·
P / FCF
21.6
19.7
33.4
20.3
·
·
·
·
·
·
·
·
EV / EBITDA
15.7
33.9
17.5
16.7
·
·
·
·
·
·
·
·
EV / FCF
22.8
20.2
34.9
21.0
·
·
·
·
·
·
·
·
EV / Revenue
4.9
5.2
5.5
5.8
·
·
·
·
·
·
·
·
Dividend Yield
0.55%
0.00%
0.00%
·
·
·
·
·
·
·
·
·
Earnings Yield
4.3%
0.83%
3.3%
3.6%
3.9%
2.8%
-0.52%
2.3%
0.53%
1.1%
1.8%
1.9%
Payout Ratio
12.8%
·
·
·
·
·
·
·
·
·
·
·
Annual Payout
$54M
$0
$0
·
·
·
·
·
·
·
·
·
주당1
지표
추세
Q4 2009
Q4 2008
Q4 2007
Q4 2006
Q4 2005
Q4 2004
Q4 2003
Q4 2002
Q4 2001
EPS (TTM)
$0.64
$0.44
·
·
·
·
·
·
·
가치 평가 (TTM)4
지표
추세
Q4 2009
Q4 2008
Q4 2007
Q4 2006
Q4 2005
Q4 2004
Q4 2003
Q4 2002
Q4 2001
Revenue TTM
$1.01B
$893M
·
·
·
·
·
·
·
Net Income TTM
$138M
$89M
·
·
·
·
·
·
·
P/E
37.4
42.8
·
·
·
·
·
·
·
Earnings Yield
2.7%
2.3%
·
·
·
·
·
·
·
최신 기간은 왼쪽에 · null 값은 ·로 표시
재무제표
손익계산서, 대차대조표, 현금흐름 — 연간, 지난 5년
16
지표
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
매출
$2.09B
$1.98B
$1.97B
$2.14B
$2.25B
매출 총이익률 %
62.2%
48.9%
62.8%
64.6%
64.4%
영업이익률 %
22.3%
4.9%
20.9%
24.8%
28.0%
순이익
$425M
$84M
$341M
$423M
$513M
희석 EPS
$1.94
$0.37
$1.48
$1.84
$2.21
지표
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
부채 / 자기자본 비율
0.4
0.4
0.4
0.5
0.6
유동비율
3.9
3.6
2.0
2.5
1.4
당좌 비율
2.9
2.8
1.3
1.8
0.9
지표
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
잉여현금흐름
$453M
$506M
$310M
$586M
$449M
기관 투자자 (13F)
360개의 제출자
· $5.3B 전체
· 기준일 2026년 9월 30일
17
분기별 SEC 양식 13F에서 이 주식을 보유하고 있다고 보고하는 기관. 롱 포지션만 해당하며, 단일 제출자는 별도의 옵션 레그에 대해 두 번 나타날 수 있습니다. 대규모 상쇄 풋/콜 포지션은 일반적으로 방향성에 대한 확신보다는 시장 조성 또는 헤지된 재고를 반영합니다.
보유자360
보유 가치$5.3B
신규 포지션75
청산 포지션71
기관 활동 — Q2 2026 대 이전 분기
신규 포지션
청산 포지션
증가함
감소
순주식 변동
75
71
143
102
·
Q1 2026 대비 비교. SEC 양식 13F 제출은 분기 말로부터 45일 이내에 마감되며, 지연 제출자를 위한 짧은 유예 기간이 추가됩니다. 해당 기간 내에 있는 분기는 가장 최근에 완전히 보고된 쌍을 선호하여 건너뜁니다. 이전 분기 대비 변동 미표시: 신뢰할 수 있는 비교를 위해 이 두 분기 간 제출자 범위가 너무 많이 다릅니다.
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF 보유 현황
23 ETF 보유
20
가중치는 직접적인 주식 보유(N-PORT)만 반영합니다. 레버리지 또는 파생 상품 기반 펀드는 표시되지 않은 추가 스왑 노출을 보유할 수 있습니다.