市盈率与市净率（Price earnings ratio and net profit ratio）.doc

市盈率与市净率（Price earnings ratio and net profit ratio） Many of the price level of stock valuation methods, some are complicated, some very fancy a little cool, but I love this one simple truth, love is not gorgeous boastful; for the stock is so, the valuation of the value of the investment is one of the central issues, price earnings ratio valuation method is the most primitive and the most simple although there are many limitations, but does not prevent it as a practical method of valuation, it should be said that the line with my motto: simple and practical is good. When it comes to the limitation of earnings that is very much, such as assets and liabilities, cash, accounts receivable, all these trends are not considered, but we dont have repeatedly said in the hope that an indicator of all problems, a certain index can explain one aspect, like a person may not for each field in the same; for this to have a correct understanding of the price earnings ratio is an important indicator, but never hope to correct reaction of stock price, better asset quality not the company is good or bad reaction. Of course, the ideal method of stock price earnings ratio is not valued, but in your own valuation method has not formed before the very useful. The price earnings ratio or earnings, is an important index to reflect the investment returns and risk one, the cumulative number of years reflect the enterprise according to the current level of profitability need considerable profit to the current stock price. For investors earnings multiples as small as possible, the general description of higher investment value; multiple general means of virtual high price, high investment risk; price earnings multiples usually seen in 10-30 times is a reasonable interval, different industry prospect and trend of development of enterprise depends on; if the calculated in static earnings ratio greatly, beyond the scope of the general can be determined to overestimate or underestimate, but not too co