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丁洁Amy · 2021年06月01日

关于leading P/E的公式

  1. CFA II
  2. Equity

* 问题详情，请 查看题干

NO.PZ201710200100000301

问题如下：

1. Based on the Gordon growth model, the justified leading P/E for ABC stock is closest to:

选项：

A.

17.1.

B.

17.7.

C.

20.0.

解释：

A is correct.

The justified leading P/E is calculated as

P0/E1=(1−b)/(r−g)

where b is the retention ratio, 1 – b is the dividend payout ratio, r is the discount rate, and g is the long-term growth rate.

ABC’s dividend payout rate, 1 – b, is given as 0.60. For Company ABC, the justified leading P/E is

P0/E1=(1−b)(r−g)=0.60/(0.07−0.035)≈17.1

老师好，


我上完李老师的reading27的基础课没有听到关于leading P/E和trailing P/E的公式是什么，请问基础课有讲吗？


如果没有，请问老师有什么记忆方法吗？谢谢

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已采纳答案

追风少年_ 品职助教 · 2021年06月03日

嗨，爱思考的PZer你好：


李老师应该是讲过的，这里老师再总结一下，

leading PE 是P/E1=D0(1+g)/E1/(r-g)=(1-b)/(r-g)

trailing PE是P/E0=D0(1+g)/E0/(r-g)=(1-b)(1+g)/(r-g)

只要记住上面是没有(1+g)下面有(1+g)就行啦

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努力的时光都是限量版，加油！

追风少年_ 品职助教 · 2023年02月26日

嗨，爱思考的PZer你好：


同学，因为这个是很久之前的问题了，具体东西要看考纲的，考纲可能发生变动了，按照老师视频为准

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加油吧，让我们一起遇见更好的自己！

小火儿 · 2023年02月26日

这个内容没有在最新的课程视频中看到呀，有讲leading 和trailing p/e ，但是没有这个公式

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2024-06-10 15:28 1 · 回答

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