开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

ROOT · 2023年05月05日

请老师帮忙解答一下❤️

  1. CFA I
  2. Equity

NO.PZ2022061307000082

问题如下：

Question

An analyst gathered the following information about a company:


Which of the following statements best describes the company’s price-to-earnings ratio (P/E)? Compared to the company’s trailing P/E ratio, the justified forward P/E ratio based on the Gordon growth dividend discount model is:

选项：

A.the same.

B.higher.

C.lower.

解释：

Solution

C is correct.

Trailing P/E ratio = Current stock priceCurrent earnings per share=356 = 5.83

P/E ratio based on the Gordon growth dividend discount model

= D1/E1r/g=(2.4×1.08)/(6×1.08)0.15/0.08 = 5.71

A is incorrect. P/E ratio based on the Gordon growth dividend discount model is greater than trailing P/E ratio.

B is incorrect. It uses earnings for next year to calculate the trailing P/E ratio.

Trailing P/E ratio = Current stock priceCurrent earnings per share=356×1.08 = 5.40

P/E ratio based on the Gordon growth dividend discount model

= D1/E1r/g=(2.4×1.08)/(6×1.08)0.15/0.08 = 5.71

为什么Trailing的不能用（1+g）*（1-b）/r-g来计算？d为2.4/6=0.4,b为1-0.4=0.6,带入公式后我算的是（1+8%）*（1-0. 6) /15%-8%得6. 17, 跟答案撞对了，请问老师思路错在哪里？

添加评论
1 个答案
已采纳答案

王园圆_品职助教 · 2023年05月05日

同学你好，因为trailing P/E 就是指的普通的Price为分子，E0为分母的P/E ratio

而只有justified trailing P/E才是指的分子为Value，分母为E0，也就是你这里的公式（1+g）*（1-b）/r-g来计算的

没有justified 字眼的所有ratio分子都是Price哦

  • 1

    回答

  • 0

    关注

  • 404

    浏览
相关问题

NO.PZ2022061307000082问题如下 Questionanalyst gatherethe following information about a company:Whiof the following statements best scribes the company’s price-to-earnings ratio (P/E)? Compareto the company’s trailing P/E ratio, the justifieforwarP/E ratio baseon the Gorn growth vinscount mol is: A.the same.B.higher.C.lower. SolutionC is correct.Trailing P/E ratio = Current stopriceCurrent earnings per share=356 Current?stock?pri Current?earnings?per?share = 35 6 = 5.83P/E ratio baseon the Gorn growth vinscount mol= (/E1)/(r-g)=[(2.4×1.08)/(6×1.08)]/(0.15-0.08) 1 / E 1 r?g = 2.4×1.08 / 6×1.08 0.15?0.08 = 5.71A is incorrect. P/E ratio baseon the Gorn growth vinscount mol is greater thtrailing P/E ratio.B is incorrect. It uses earnings for next yeto calculate the trailing P/E ratio.Trailing P/E ratio = Current stopriceCurrent earnings per share=356×1.08 Current?stock?pri Current?earnings?per?share = 35 6×1.08 = 5.40P/E ratio baseon the Gorn growth vinscount mol= (/E1)/(r-g)=[(2.4×1.08)/(6×1.08)]/(0.15-0.08) 1 / E 1 r?g = 2.4×1.08 / 6×1.08 0.15?0.08 = 5.71 Trailing p/e =forwarp/e X (1+g), g大于0，1+g大于1， 所以trailing pe always 大于 forwarpe

2024-08-10 17:37 1 · 回答

NO.PZ2022061307000082 问题如下 Questionanalyst gatherethe following information about a company:Whiof the following statements best scribes the company’s price-to-earnings ratio (P/E)? Compareto the company’s trailing P/E ratio, the justifieforwarP/E ratio baseon the Gorn growth vinscount mol is: A.the same. B.higher. C.lower. SolutionC is correct.Trailing P/E ratio = Current stopriceCurrent earnings per share=356 Current?stock?pri Current?earnings?per?share = 35 6 = 5.83P/E ratio baseon the Gorn growth vinscount mol= /E1r/g=(2.4×1.08)/(6×1.08)0.15/0.08 1 / E 1 r?g = 2.4×1.08 / 6×1.08 0.15?0.08 = 5.71A is incorrect. P/E ratio baseon the Gorn growth vinscount mol is greater thtrailing P/E ratio.B is incorrect. It uses earnings for next yeto calculate the trailing P/E ratio.Trailing P/E ratio = Current stopriceCurrent earnings per share=356×1.08 Current?stock?pri Current?earnings?per?share = 35 6×1.08 = 5.40P/E ratio baseon the Gorn growth vinscount mol= /E1r/g=(2.4×1.08)/(6×1.08)0.15/0.08 1 / E 1 r?g = 2.4×1.08 / 6×1.08 0.15?0.08 = 5.71 P/E ratio baseon the Gorn growth vinscount mol= /E1r/g=(2.4×1.08)/(6×1.08)0.15/0.08 = 5.71

2024-08-06 16:32 1 · 回答

NO.PZ2022061307000082 问题如下 Questionanalyst gatherethe following information about a company:Whiof the following statements best scribes the company’s price-to-earnings ratio (P/E)? Compareto the company’s trailing P/E ratio, the justifieforwarP/E ratio baseon the Gorn growth vinscount mol is: A.the same. B.higher. C.lower. SolutionC is correct.Trailing P/E ratio = Current stopriceCurrent earnings per share=356 Current?stock?pri Current?earnings?per?share = 35 6 = 5.83P/E ratio baseon the Gorn growth vinscount mol= /E1r/g=(2.4×1.08)/(6×1.08)0.15/0.08 1 / E 1 r?g = 2.4×1.08 / 6×1.08 0.15?0.08 = 5.71A is incorrect. P/E ratio baseon the Gorn growth vinscount mol is greater thtrailing P/E ratio.B is incorrect. It uses earnings for next yeto calculate the trailing P/E ratio.Trailing P/E ratio = Current stopriceCurrent earnings per share=356×1.08 Current?stock?pri Current?earnings?per?share = 35 6×1.08 = 5.40P/E ratio baseon the Gorn growth vinscount mol= /E1r/g=(2.4×1.08)/(6×1.08)0.15/0.08 1 / E 1 r?g = 2.4×1.08 / 6×1.08 0.15?0.08 = 5.71 the justifieforwarP/E难道不是P0/E1=（1+b）/（Re-g）吗？为什么分子还要乘以（1+g）

2024-04-21 12:08 1 · 回答

NO.PZ2022061307000082问题如下 Questionanalyst gatherethe following information about a company:Whiof the following statements best scribes the company’s price-to-earnings ratio (P/E)? Compareto the company’s trailing P/E ratio, the justifieforwarP/E ratio baseon the Gorn growth vinscount mol is: A.the same.B.higher.C.lower. SolutionC is correct.Trailing P/E ratio = Current stopriceCurrent earnings per share=356 Current?stock?pri Current?earnings?per?share = 35 6 = 5.83P/E ratio baseon the Gorn growth vinscount mol= /E1r/g=(2.4×1.08)/(6×1.08)0.15/0.08 1 / E 1 r?g = 2.4×1.08 / 6×1.08 0.15?0.08 = 5.71A is incorrect. P/E ratio baseon the Gorn growth vinscount mol is greater thtrailing P/E ratio.B is incorrect. It uses earnings for next yeto calculate the trailing P/E ratio.Trailing P/E ratio = Current stopriceCurrent earnings per share=356×1.08 Current?stock?pri Current?earnings?per?share = 35 6×1.08 = 5.40P/E ratio baseon the Gorn growth vinscount mol= /E1r/g=(2.4×1.08)/(6×1.08)0.15/0.08 1 / E 1 r?g = 2.4×1.08 / 6×1.08 0.15?0.08 = 5.71 请问这个trailing P/E是怎么算的？看答案没看懂。

2024-01-12 12:08 2 · 回答