Isilumkiso sibonakalisa iSitishi Sinokuthi Sithengise Kwiindawo Eziyingozi
Ukuba ixabiso lempahla yenkampani lifumana amaxesha angama-50, umzekelo, kunokwenzeka ukuba ixhomekeke kwiinkampani ezithengisa amaxesha angama-10.
Nangona abanye abatyalo-mali bakholelwa ukuba i-market market isebenza kakuhle kwaye umtyalo-mali oqhelekileyo akayi kuba nolwazi ngokukhawuleza ngokwaneleyo ukufumanisa amasheya angaphezu kwemilinganiselo ngenxa yokuba ihlelwe ngamaxabiso esitokisi ngokukhawuleza, abahlalutyi abayisiseko bakholelwa ukuba uya kuhlala ufumana izitokisiso ezingaphezulu okanye ezingabalulekanga kwimarike ngenxa ye-investor ukungafani.
Ngoko, unokukwazi njani ukuba isitokisi siphezulu? Kukho iintlobo ezahlukahlukeneyo zemiqondiso ebalulekileyo enokuthi ibonise ukuba kukhangeleke ngakumbi. Kuyinzuzo ukuqala ngokuphonononga ingxelo yonyaka yenkampani, ukufaka incwadi ye-10-K , isitatimenti se ngeniso , isalathisi kunye nezinye izinto ezichaziweyo ukuze uzive ngokusebenza kwenkampani usebenzisa ulwazi olufumanekayo.
Nangona abatshali-mali abaninzi bathembela kwizinga le-P / E, ukuba ukhangele ukumba ubunzulu, kukho ezinye iindlela zokuvavanya ukuba i-stock is overvalued.
Khangela i-PEG okanye i-PEG okanye i-Dividend-Adjusted PEG Ratio
Ezi zimbini zibalo zinokuba luncedo kwiimeko ezininzi kodwa zinokuba neyodwa inqabileyo ekhupha ngezikhathi ezithile. Okokuqala, jonga kwi-intlarensi yokukhula emva kwentela kwisabelo ngasinye kwisabelo, ihlaziywe ngokupheleleyo, kwiminyaka embalwa ezayo. Emva koko, jonga umlinganiselo wexabiso-kuya-umvuzo kwisitokisi.
Ukusebenzisa la manani amabini, unokubala into eyaziwa njenge- PEG , usebenzisa le fomula:
I-PEG Ratio = I-P / E Ireyithi yokukhula kwe-Ratio / inkampani
Ukuba isitokethi sihlawula isahlulelo, unokufuna ukusebenzisa umlinganiselo wemilinganiselo ye-PEG ehlawulelweyo-mali :
Isilinganiselo se-PEG ratio = I-P / E isilinganiso / (ukukhula kokufumana umvuzo)
Umngcipheko ophezulu ophezulu abantu abafuna ukuwuqwalasela umlinganiselo we-2. Kule meko, ixabiso eliphantsi le nani libhetele, nantoni na kwi-1 okanye ngaphantsi iqwalaselwe into enhle. Kwakhona, kukho ukungafani, njengomtyalo-mali kunye namava amaninzi kumashishini angabona ukutshintshwa kweshishini elijikelezayo kwaye anqume ukuba iziphumo zokufumana imali zizinzileyo. Nangona imeko ingaba lukhulu kunokuba ibonakale ekuqalekeni, kumtyalo-mali omtsha, lo mgaqo-jikelele ungakhusela ukulahlekelwa ezininzi.
Hlola i-Dividend Relative Yiza Ipesenti
Unokufumanisa ukuba isivuno esiphezulu se-stock share value is in a lower 20 percent of its long history history. Ngaphandle kokuba ishishini okanye icandelo okanye ishishini lidlulileyo kwixesha elithile lohlobo lwezoqoqosho okanye amandla oqoqosho asebenza emsebenzini, iinkqubo zenkampani ziza kubonisa isilinganisi esithile sokuzinza ngokuhamba kwexesha, kunye neengcamango ezifanelekileyo eziziphumo phantsi kweemeko ezithile.
Okokuthi, imarike yemasheya ingaba yinkanuko kodwa amava amaninzi asebenzayo kwamashishini amaninzi, ngamaxesha amaninzi, abonisa ukuzinza okuninzi, ubuncinane njengoko kulinganiswa kwiimjikelezo zoqoqosho ngokupheleleyo kunokuba kuboniswe kwintengo yesitokisi.
Oku kungasetyenziselwa inzuzo yomtyalo-mali. Thatha inkampani efana neChevron. Ukujonga emva kwimbali, nangaliphi ixesha isivuno sesahlulo se -Chevron sisezantsi kweepesenti ezingama-2,00, abatyali-mali kufuneka baqaphele njengoko i-firm is overloaded. Ngokufanayo, nanini na ixesha eliya kwi-3.50 yeepesenti ukuya kwi-4.00 yeepesenti ezahlukeneyo, kwafuneka ukuba enye ingqwalasela ingabalulekanga. Isivuno sesahlulo, ngamanye amagama, sasebenza njengomqondiso. Kwakuyindlela yokuba abatyali-mali abancinci baqikelele ixabiso elihambelana neenzuzo zoshishino, ukukhupha ubuninzi beengxaki ezinokuvela xa bejongene nedatha yezemali phantsi kwe-GAAP.
Ukulandelela nokukhangela isivuno semali senkcitho kwixesha elide, imephu ngaphandle kwesahluko semali kuveliswe kwixesha eliqela, uze uhlule isatifiketi ibe ngu-5 ukulingana okulinganayo. Naliphi na ixesha isivuno sesahlulo siwela phantsi kwe-quintile engezantsi, qaphela. Nje ngezinye iindlela, le nto ayigqibekanga. Iinkampani eziphumelelayo zikhawuleza zibalekele ingxaki kwaye ziphumelele; amashishini amabi ajika ajikeleze.
Ngokomyinge, nangona kunjalo, xa kulandelwa ngumtyalo-mali okhuselekileyo njengenxalenye yephothifoliyo ekhawulezileyo yemigangatho ephakamileyo, i-chip blue, i-stock-paying pays, le ndlela ingavelisa iziphumo ezilungileyo. Ingakwazi ukunyanzelisa abatyalo-mali ukuba baziphathe ngendlela yokucwangcisa indlela yokwenza rhoqo, utyalo-mali ngokukhawuleza kwimali yenkcazo, nokuba i-market okanye phezulu, ingaba.
Hlola Ubungqina Boshishino Lwezithuthi
Ezinye iintlobo zeenkampani ezifana nabakhi bezindlu, abenzi bemoto, kunye neentsimbi zetsimbi baneempawu ezizodwa. Ezi shishini zivame ukufumana ukuhla kwamanzi amaninzi ngexesha lokunciphisa kwezoqoqosho, kunye neentlobo ezinkulu kwinzuzo ngexesha lokwandiswa koqoqosho. Xa kwenzeka oko, abanye abatyali-mali bathelelwa ngulokho kubonakala ngathi kukhula ngokukhawuleza, i-ratios ephantsi, kwaye kwezinye iimeko, izabelo ezinkulu.
Ezi meko, ezibizwa ngokuba yimilinganiselo yexabiso , zingaba yingozi. Ziyabonakala ekupheleni komsila wokunyuka kwezoqoqosho kunye noomgibe abangenamava. Abatyalomali abaqeshwe ngokukhawuleza baya kuqonda ukuba ngokwenene, ukulinganiswa kwe-P / E kwale mafemu kuninzi, kuphakamileyo kunokuba kubonakale.
Hlola iMali yokuThumela
Imali yokufumana isivuno semali xa kuthelekiswa nesivuno sesibhambathiso seNondyebo inganika enye inkcazelo ekuhlolweni kwesitokisi esiphezulu. Nanini na xa isivuno sesondlo seNondyebo sidlulisa umvuno we-earnings ngo-3 ukuya kwe-1, ugijime kwiinduli. Bala le nto usebenzisa le fomyula elandelayo:
(Isivuno sesondlo seminyaka engama-30 / u-2) / Igalelo elipheleleyo elihlanjululwayo ngesabelo ngasinye
Ngokomzekelo, ukuba inkampani ifumana i-1.00 nganye isabelo kwi-EPS ehlanjululwayo, kunye ne-30 ye-Nondyebo yeBondari yeBondari yi-5.00 yeepesenti, uvavanyo luya kubonisa i-stock exaluated stock if you paid $ 40.00 okanye ngaphezulu ngesabelo ngasinye. Oku thumela iiflegi ebomvu ukuba iingcamango zakho zokubuya zingaba nethemba elingaphezulu.
Intlawulo yemboleko yezibophelelo ze-Nondyebo ezivunyenwe zizivuno ezi-3 ukuya kwe-1 zenzeke ngokuphindaphindiweyo ngamaxesha ambalwa kwimihla emashumi emashumi kodwa kungabi nantoni into enhle. Ukuba kwenzeka kwiimpahla ezaneleyo, imarike yesitokisi ngokubanzi iya kuba yindoda ephezulu kakhulu kuMveliso weSizwe oPhezulu, okanye i-GNP, eyona nto isilumkiso esisilumkiso sokuthi ukulinganiswa kuye kwaxhaswa kwizinto ezikhoyo.
Ungalibali ukulungelelanisa imijikelezo yezoqoqosho, nangona kunjalo. Ngokomzekelo, ngethuba le-2001 emva komhla we-11 kuSeptemba, amaninzi amashishini amaninzi ayenomsebenzi omkhulu wokubhalwa kwexesha elilodwa oye wabangela ukufumana uxinzelelo olunzulu kunye nemilinganiselo ephezulu yeP / E. Amashishini azinzileyo kwiminyaka elandelayo kuba akukho monakalo ongapheliyo owenziweyo kwimisebenzi yazo engundoqo kwiimeko ezininzi.
Iimali ezigqithisiweyo kwiiNgxowa-mali zakho
Kubalulekile ukuba abatyali-mali baqonde ukuhlukana phakathi kokungavumi ukuthenga isitokethi esiphezulu kwaye wenqatshelwe ukuthengisa isitorethi osibambe sona esiye sifikela kwangaphambili. Kukho izizathu ezininzi zokuba utyalomali-mali onokuthi angathengisi isitokisi esiphezulu esise-portfolio yakhe, ezininzi ezibandakanya izigqibo zokuhweba malunga neendleko zerhafu kunye nemigaqo yerhafu. Oko kwathiwa, yinto enye yokubamba into ebenokuthi iphumelele kuma-25 ekhulwini ngaphezu kokubaluleka kokulinganisela kwangaphakathi kwexabiso, kwaye enye ingakumbi ukuba ubambe isitokethi ngeempawu ezixhomekeke ekubeni zingenangqiqo kuyo yonke imarike.
Enye ingozi kunye nabatyalomali abatsha ngumkhuba wokuthengisa rhoqo. Xa unesisitya ebhizinisini elikhulu, mhlawumbi libiza ukubuyela okuphezulu kwi-equity , ukubuya okuphezulu kwii-asethi , kunye / okanye ukubuyela okuphezulu kwi-capital eqeshwe, inzuzo ye-intrinsic inokuthi ikhule ngaphezu kwexesha. Ngokuqhelekileyo kuyiphutha ukuba inxalenye yesikhwama senkampani ngenxa yokuba mhlawumbi ifumene ixabiso lentengo ngexesha. Khangela ukubuya kwamashishini amabini, iCoca-Cola kunye nePepsiCo, nangona ixabiso lentengo liye lagqithiswa ngamaxesha, umtyalomali uza kuzaliswa emva kokuthengisa intengo yakhe.
I-Balance ayinikezeli irhafu, utyalo-mali, iinkonzo zemali kunye neengcebiso. Ulwazi lwenziwa ngaphandle kokuqwalasela iinjongo zotyalo-mali, ukunyamezela ngengozi okanye imeko zezimali kwanoma yimuphi umtyalo-mali othile kwaye angenakufaneleka kubo bonke abatyalo-mali. Ukusebenza kwangaphambili akubonakali kweziphumo ezizayo. Utyalo-mali luquka ubungozi kubandakanya ukulahlekelwa kwinqununu.