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tT
发表于 2011-7-11 19:15 | 只看该作者

P/BV Calculation (Equity section)

reading, equation
Equity reading 44 page 518:

How do we get to the equation

P/B=(ROE-g)/(r-g) ?

Thanks very much
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FinancialAnaly

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2#
发表于 2011-7-11 19:15 | 只看该作者
Wow nvm it's footnoted.

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Pegasus2008

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3#
发表于 2011-7-11 19:15 | 只看该作者
yeah, srsly, just memorize so that on the exam you can plug and chug.

also, you should probly know this one:

P/B = 1 + (RoE - r)/(r-g)

mainly because it helps you remember this one:

P = B + B(RoE-r)/(r-g)

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jacksparrow

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4#
发表于 2011-7-11 19:15 | 只看该作者
P = D1/(r-g)=E1*(1-RR)/(r-g)=BV*ROE(1-RR)/(r-g)=BV*(ROE-g)/(r-g) since g = RR*ROE.

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