Principles of Finance · 免费预览
市场价值比率
市场价值比率把企业的会计数据与其股票价格联系起来：每股收益和每股账面价值根据财务报表计算，市盈率和市净率则衡量投资者愿意为盈利和净资产支付的价格。
1. Per-share measures
Per-share measures
2. The price-earnings ratio
The price-earnings ratio
3. Market value versus book value
Market value versus book value
4. Connecting to valuation
Connecting to valuation
5. Computing earnings per share
A firm reports net income of 480,000 dollars and a weighted average of 128,000 shares outstanding. What is earnings per share?
6. Computing book value per share
A firm has total equity of 100,000 dollars, preferred equity of 20,000 dollars, and 8,000 common shares outstanding. What is book value per share?
7. The price-earnings question
A stock trades at 69.41 dollars with earnings per share of 3.75 dollars. What does the resulting price-earnings ratio of about 18.5 tell an investor?
8. Trailing versus forward
Why do analysts compute the price-earnings ratio on both trailing and forward earnings?
9. Market-to-book above one
Why do most successful firms trade at market-to-book ratios above 1?
10. Limits of market-to-book
In which comparison is the market-to-book ratio least informative?
11. The price multiple
What three-letter abbreviation names the ratio of market price per share to earnings per share? Write the abbreviation.
12. The common claim
What two-word term names the class of shareholders whose per-share figures exclude preferred equity? Answer in lowercase.
13. The accounting value per share
What three-word term names common equity divided by shares outstanding? Answer in lowercase.
14. The twelve-month qualifier
What three-letter abbreviation qualifies a price-earnings ratio computed on the last twelve months of actual earnings? Write the abbreviation.