Kodwa ukuba kunenombolo enye abantu abayifuna ukuyijonga ngaphezu kwayo nayiphi na enye, ixabiso kwiRatio yokuFumana (P / E). Kodwa oko kuthetha ukuthini, kunjalo? I-Wall Street ithanda i-jargon ngendlela engaphambili ngayo uMongameli wangaphambili uBill Clinton wayethanda ama-hamburgers.
Kwaye ngokwenene: Phakathi kwe-Wall Street cognoscenti, i-P / E yenye yezo manani-mali ziphonsa ngegunya elikhulu. Kodwa ayinayo ibhodi yamatriki. (Ngaphandle koko, zonke ezinye iinombolo aziyi kubaluleka.)
Ngokucacileyo, nantsi indlela iP / E isebenza ngayo:
- I-P / E ibhekisisa ubuhlobo phakathi kwexabiso lesitoko kunye nemali yokufumana inkampani. I-P / E iyona methrikhi esithandwa kakhulu ekuhlaziyweni kwesitokisi, nangona kukude kukuphela kwento omele uyiqwalasele.
- Ubala i-P / E ngokuthatha intengo yesabelo kunye nokwahlula yi- EPS yenkampani . Yiyo "inzuzo ngesabelo ngasinye," ukukhupha elinye ixesha. (Hamba phambili: Thumba impumlo yakho kweso sikhwama se-hedge kwaye umemeza, "I-NIK yeyona nto inyuke kwipesenti eziyi-100 ... njengokuba" ngoku ndiyazi. ")
- Ifomula: P / E = Ixabiso lentengo / i-EPS
Ngokomzekelo, inkampani enexabiso lentengo ye-$ 40 kunye ne-EPS ye-8 iya kuba ne-P / E ye-5 (i-$ 40/8 = 5).
Yintoni i-P / E ikuxelela yona? I-P / E ikunika ingcamango yento eyimarike eya kuhlawula ngayo imali yenkampani.
Ephakamileyo i-P / E ngokuthe xaxa i-marhwebo iyakudala. Abanye abatyali-mali bafunda i-P / E ephakamileyo njenge-stock overric. Oku kunokwenzeka. Kodwa ingabonisa nokuba i-market ithemba kakhulu kwixesha elizayo kwaye liye lafaka intengo.
Qaphela: nangona kunjalo kunzima ukuchazela umahluko phakathi kwamaxesha aphezulu kunye "nokungaxhamli."
I-P / E ephantsi ingabonisa "ivoti engathembekiyo" kwiimarike ... okanye oko kungathetha ukuba lo ulalayo ukuba i-marhwebo ilinakile. Eyaziwayo njengeempahla zentengo, abatyali-mali abaninzi bathatha inzuzo yabo ekuboniseni le "dayimane ebudeni" ngaphambi kokuba yonke imarike ifumene ixabiso.
Yintoni "eyiyo" P / E? Impendulo ixhomekeke ekubeni uzimisele ukuhlawula imali. Okona uzimisele ukuhlawula - oko kuthetha ukuba ukholelwa ukuba inkampani inethemba elide elide ngaphezu kweyona ndawo ekhoyo ngoku - iphakamileyo "i-P" E ephakamileyo yeso sabelo esithile kwinkqubo yokwenza izigqibo. Omnye umtyalo-mali angaboni ixabiso elifanayo kwaye acinge "ilungelo" lakho leP / E liphosakeleyo.
Udidekile? Musa ukoyika. Kodwa yibona indlela oku kusebenza ngayo? Kwanjalo iingcali zihlala zidibanisa malunga nendlela yokukhetha izitokethi ezisekelwe kwiP / E. Ekugqibeleni - kwaye asikwazi ukuxinzelela oku ngokwaneleyo - INKONZO YONKE IYAFUNEKA. Ukuboleka kwi-baseball, akukho mntu uya kudibanisa iNew York Yankees kunye ne-Houston Astros, kwaye loo mzekeliso iyatshintsha ukusuka kwonyaka ukuya kwixesha. (I-Apple (AAPL) eyayiyi-innovator kwimini kaSteve Jobs, yinkampani yokukhathalela ngo-2016 ekulweni nokuthengiswa kwe-iPhone.)
Ngoko yonke inkampani, uhlola i-P / E, landela ngokucokisekileyo.
Funda oko unokukwazi malunga neqela layo lolawulo, indawo yalo kwicandelo elinikeziweyo (umz., Amandla, ubuchwepheshe obuphezulu, amayeza kunye neengcamango zengcali). Vula i-stash yolwazi lwakho lwe-P / E kwi-cash cash investment.
Amanye amanqaku kulolu chungechunge aquka:
- Iintlawulo ngeSabelo-EPS
- Ixabiso kwiRatio yokuFumana - P / E
- Ukukhula kweProjekthi yokufumana ukukhula - i-PEG
- Ixabiso lokuthengisa - P / S
- Ixabiso lokuBhala - P / B
- Ulwahlulo lokuhlawula
- Uhluthwa
- Ixabiso leNcwadi
- Buyela kwi-Equity
Buyela kwinqaku eliphambili