市盈率

用市盈率分析股市泡沫，最关键的是明确市盈率的合理水平是多少，即确定合理市盈率。

Judging the bubble of stock market by PER , it is crucial to determine a reasonable PER .

最后将上述一系列结果用于分析1995～2000年4月深圳股票市场的合理市盈率状况。

Finally , it analyses the rational PER of Shenzhen stock market from 1995 to 2000 with the above series of results .

目前，上证综指（ShanghaiComposite）的市盈率为25.7倍，高于一年前的区区9.7倍。

The Shanghai Composite now trades at 25.7 times current earnings , up from just 9.7 times a year ago .

与之形成对比的是，谷歌（Google）的市盈率仅16倍。

Google ( GOOG ) , by contrast , is trading at 16 times earnings .

不过，根据英国经济研究机构capitaleconomics的研究，在过去的14次衰退中，股市的最低市盈率平均为11倍。

Still , in the past 14 recessions , the average trough valuation has been 11 times , according to capital economics .

研究所涉及的亚洲企业的平均市盈率（p/e）去年也出现下降，降幅为19.9%。

The average price / earnings ratios of the Asian companies in the study also declined last year , by 19.9 per cent .

这其中也许已经把政治风险包括在内（美国高科技领袖谷歌（Google）增长率更低，市盈率却为18倍）。

Political risk may be priced in ( US tech leader Google trades on an 18 times multiple for slower growth ) .

因此，该蓝筹股指数的历史市盈率（p/e）仅为12.9，而中型股指数为18.9，小型股指数为40.7。

Consequently the historic price / earnings ratio of the blue-chip index is just 12.9 , compared with 18.9 for the mid-cap index and 40.7 for the small caps .

泡沫经济指标测度有金融相关率、马歇尔K值系数、市盈率比率和Q值等。

The estimating indexes of bubbling economy include financial interrelations ratio , Marshall 's " K ", P / E ratio , Tobin 's Q , etc.

依据雅虎2014年预期息税折旧摊销前收益计算的市盈率目前为25.5倍，与科技公司估值相当，差不多是谷歌（Google）的两倍。

These now sport a tech-like multiple of 25.5 times 2014 earnings before interest , taxes , depreciation and amortization , about double that of Google .

你应该渴望变得像可口可乐（Coca-Cola）那样，拥有20倍的市盈率。

  You should aspire to be like Coca-Cola and have a 20 times p / e.

目前股权估值模型很多，有现金流贴现法、EVA方法、市盈率模型以及市净率模型等等。

There are many valuation models such as CDF , EVA model , P / E model and P / B model etc.

如果Facebook的估值最终达到1040亿美元，则其交易价值将是2011年营业收入的28倍，而市盈率达到104倍。

If Facebook ends up valued at $ 104 billion , it would trade at 28 times its 2011 revenue and 104 times earnings .

据德意志银行（deutschebank）计算，目前新兴市场的追溯市盈率（trailingpe）为16.6倍，而发达市场为17.3倍。

According to Deutsche Bank , emerging markets currently trade on a trailing price / earnings ratio of 16.6 , versus 17.3 for developed markets .

这些证券本质上是具备股票优势的债务，其基础是IPO以2007年那种膨胀的市盈率超出预期收益30倍进行。

Essentially debt with equity upside , they were predicated on initial public offerings at bloated 2007-style multiples , upwards of 30 times projected earnings .

msci的数据显示，印度的市盈率为22.9倍，而中国是48.8倍。

MSCI shows India Trading at a multiple of 22.9 and China at 48.8 .

在确定了影响因素的指标后，通过逐步回归分析法建立起中小企业板上市公司的IPO市盈率多因素回归模型。

Determine the impact of factors of indicators , through the analysis of factors affecting to IPO price-earnings ratio of listed companies to build multiple regression model .

可比的企业很少，但新加坡上市的midasholdings具有更小、更多元化的业务，其市盈率为11.5倍。

Comparable companies are few , but Singapore-listed Midas holdings offers a smaller , more diversified proxy and trades at 11.5 times .

目前，谷歌的市盈率为18倍，这表示，在近期，Facebook要拥有谷歌五倍左右的增长潜力。

Google currently trades at 18 times earnings , which implies that Facebook should have roughly five times the growth potential than Google will have in the near future .

市盈率低于均值的IBM公司和惠普都充满信心地预测，（受益于云计算等新计划），公司的年利润增长率一直到2014年都将维持在11%。

IBM and HP which both struggle with below-average P / E ratios are confidently projecting profits to grow 11 % a year through 2014 , thanks to new initiatives like cloud computing .

但投资者本可以在2008年（价格飙升以前），以相当于目前市盈率一半水平的价格购买Ace或Robinson的股票。

But investors could have bought either Ace or Robinson at half their current p / e in 2008 – before prices took off .

结论表明我国的IPO定价主要决定于发行市盈率，且市场波动性，整体经济运行对IPO定价影响有一定时滞性。

The conclusion shows that the IPO pricing in China mainly lies on issuing market payoff rate , and market fluctuation and overall economic operation make IPO pricing lagged .

历峰集团、蒂芙尼（Tiffany）和斯沃琪（Swatch）等珠宝及腕表企业的预期市盈率更为合理，在14倍左右。

Jewellery and watch groups such as Richemont , Tiffany and Swatch are more reasonably rated on around 14 .

深圳股市2016年预期市盈率为30倍，两倍于美国纳斯达克指数（Nasdaq），尽管它提供较高的盈利增速。

Shenzhen trades at 30 times 2016 earnings estimates , half again as much as the US Nasdaq , although it offers more earnings growth .

这些衡量标准包括经过周期调整的市盈率（考虑10年期间的利润）和托宾Q比率（Tobin'sQ，比较股价与资产重置价值）。

These are the cyclically adjusted p / e ratio , which looks at profits over a ten-year period , and Tobin 's Q , which compares share prices to the replacement value of assets .

去年，桑坦德以9倍市盈率的隐含估价收购了巴西雷亚尔银行（bancoreal），而霍伊兰表示，在巴西当地市场实际市盈率为13倍。

Last year , it bought Banco real of Brazil at an implied valuation of nine times earnings in the local Brazilian market , says hoyland , it was 13 times earnings .

其他涵盖中国海外上市股票的指数例如摩根士丹利资本国际指数（msci），预期市盈率约为12倍。

Other indices of foreign-listed China shares , such as the MSCI , show prices closer to 12 times forward earnings .

O-F模型与合理市盈率研究&中国股市泡沫的实证分析

A Study of the O-F Model and Rational P / E

其中与股票相关的因素，包括已发行股份，股份总额，募集资金，发行市盈率P/E，上市地区，行业，对IPO的预期收益对回报有重大影响。

Among the stock related factors , issued shares , total shares , raised fund , issuance P / E , listing place , industry , expected return have significant influence on IPO return .

波音公司（boeingco.）目前的股价在40美元左右，是近5年来的最低水平；市盈率为8倍，股息率高于4%。

Boeing ( BA ) is at its lowest share price ( about $ 40 ) in nearly five years . Its P / E is 8 , its yield is more than 4 % .