Dzidza Pamusoro Pechipo Kuti Uwane Mubayiro

Vamwe vanoona varidzi, kunyanya mavhisi, vanowanzogadzirisa nhamba dzinotungamira nhepfenyuro muzhenje yeziso: mutengo wemugove, Dow Jones uye nhamba dzeS & P uye IPOs yepamusoro-techs.

Asi kana pane nhamba imwe chete iyo vanhu vanoda kutarisa pane imwe yakawanda kune imwe, ndiyo Mutengo kuRatio Ratio (P / E). Asi izvi zvinorevei, zvakadaro? Wall Street inoda muromo wayo nenzira yaimbova Mutungamiri Bill Clinton yaida vafudzi vake.

Uye zvechokwadi: Pakati peWall Street cognoscenti, P / E ndeimwe yezviyero varairi vatachipoteredza vane simba guru. Asi haisi pachepa bhodhi. (Zvimwe zvisingaiti, dzimwe nhamba dzose hadzingabatsiri.)

Muchidimbu, hezvino P / E inoshanda sei:

1. I P / E inotarisa ukama huri pakati pematengo emari uye mari yekambani. IP / E ndiyo inonyanya kufarira metric yekuongorora, kunyange iri kure neye chete iwe waunofanira kufunga.
2. Iwe unoverenga P / E nekutora mutengo wekugovana uye uchigovera neEPS yekambani . Izvo "zvakabhadhara pagoga," kuti ishandise pane imwe nguva. (Endai mberi: Bvisai mhino dzenyu pane iyo hedge fund guy uye mudanidzire, "NIK yangu chinhu chinokwira zana muzana ... se" zvino ndava kuziva. ")
3. Nzira iyi: P / E = Purasi yePasi / EPS

Somuenzaniso, kambani ine mugove we $ 40 uye EPS ye8 ingadai ine P / E ye5 ($ 40/8 = 5).

Chii chinonzi P / E chinokuudza? IP / E inokupa pfungwa yekuti mumusika uchabhadharai mari yekambani.

Iyo yakakwirira yeP / E iyo inonyanya kukoka pamusika. Vamwe vatengesi vanoverenga yakakwirira P / E sechinhu chakakonzerwa nematokari. Izvozvo zvingava zvakadaro. Asi zvinogona kuratidzawo kuti misika inotarisira zvakanyanya mune ramangwana iri uye yakasimudzira mutengo.

Chenjerera, kunyange zvakadaro: Kazhinji zvakaoma kutaura mutsauko pakati pezvaunotarisira uye "kusagadzikana kwekusarura."

Pasi P / E inogona kuratidza "kuvhota kusina chivimbo" nemusika ... kana zvinogona kureva kuti uyu ndiye akarara kuti mutengesi wanyangarika. Vachizivikanwa sekukosha kwematokari, varimi vakawanda vakaita kuti ruzivo rwavo ruve nerwonzi idzi "madhaimani ari munhare" vasati vasara pamusika vakawana kukosha kwavo kwechokwadi.

Chii chiri "chakarurama" P / E? Mhinduro yacho inobva mukuda kwako kubhadhara mari. Kunyanya iwe unoda kubhadhara - izvo zvinoreva iwe unotenda kuti kambani ine maonero akanaka kwenguva yakareba pamusoro pehuwandu hwayo huripo - iyo yakakwirira "yakarurama" P / E ndeyeiyo imwe yezviyo pakusarudza kwako. Mumwe wekuda mari angasaona kukosha kwakadaro uye funga kuti "zvakanaka" P / E hazvina kunaka.

Achinetseka? Usatya. Asi ona kuti izvi zvinoshanda sei? Kunyange nyanzvi dzinowanzotsanangurira pamusoro pekugadzira zvigadzirwa zvakabva P / E. Pakupedzisira - uye isu hatigoni kuisa pfungwa iyi zvakakwana - KUNYIKA YOSE YAKASINA. Kukwereta kubva ku baseball, hapana munhu aizovhiringidza New York Yankees neHouston Astros, uye kuenzanisa ikoko kunoshanduka kubva mumwaka kusvika panguva. (Apple (AAPL) iyo yaive mutsva muSteve Jobs 'zuva, iri kambani yekuchengetedza muna 2016 kurwisa slumping iPhone sales.)

Saka kumakambani ose, iwe unotsvaga P / E, uitevere zvakanyatsonaka.

Dzidza zvaunokwanisa pamusoro peboka ravo rekutungamirira, nzvimbo yaro mune imwe nzvimbo (semuenzaniso, simba, inyanzvi yepamusoro-soro, mishonga) nemafungiro evanoongorora nyanzvi. Dzorera P / E yako stash yeruzivo mune mari inogona kuiswa mari.

Zvimwe zvikamu munyaya dzakatevedzana zvinosanganisira:

1. Makomborero ega Share - EPS
2. Mutengo kuNhanho Kubhadhara - P / E
3. Kukurudzirwa Kuwana Kukura - PEG
4. Mutengo Wokutengesa - P / S
5. Mutengo Wokuverenga - P / B
6. Mutengo Wokubhadharisa Ratio
7. Kugovana Kunobereka
8. Book Value
9. Kudzoka paEquity

Dzokera kumusoro mukuru