首页 | 学习中心 | 注册 登录
返回列表 发帖
sabina

Rank: 2

UID
223199 
帖子
174 
主题
140 
注册时间
2011-7-11 
最后登录
2016-4-19 
1# 跳转到 » 倒序看帖
打印
tT
发表于 2011-7-11 19:44 | 只看该作者

P/E and P/BV

someone, price, better, please
Is low P/BV better better then high price to book value?
Is a firm with low P/E better then the one with high price to earnings?

I have a vague idea of these, will someone please clarify
thanks guys
收藏 分享

RobertA

UID
223328 
帖子
372 
主题
108 
注册时间
2011-7-11 
最后登录
2013-8-13 
2#
发表于 2011-7-11 19:44 | 只看该作者
All else equal, low multiples are better, as they could imply that the stock is undervalued. Different industry have different multiples though, and low P/E and P/BV ratios may be low for a reason.

For example, if a company has low P/E compared to the industry, and this is corrected, the price will rise until the P/E is comparable. If a competitor has a high P/E instead, and that corrects to match the industry, then the price will fall.

The reasoning is the same for both P/E and P/BV

TOP

johnnyBuz

Rank: 2

UID
223269 
帖子
210 
主题
94 
注册时间
2011-7-11 
最后登录
2013-9-26 
3#
发表于 2011-7-11 19:44 | 只看该作者
In regards to P/E and B/V, which stocks have historically outperformed? Low P/E and High B/V stocks?

TOP

rgonzalez

UID
223326 
帖子
348 
主题
123 
注册时间
2011-7-11 
最后登录
2013-9-23 
4#
发表于 2011-7-11 19:44 | 只看该作者
Based on "studies" in the CFAI curriculum, both P/E and P/BV are correlated with the long-term growth of stocks. So if a lower-than-expected P/E or P/BV is estimated, then the stock should be undervalued (and vice versa)....

TOP

Daniel1985

Rank: 2

UID
223300 
帖子
263 
主题
113 
注册时间
2011-7-11 
最后登录
2016-4-16 
5#
发表于 2011-7-11 19:44 | 只看该作者
High P/BV means that the equity owner has little rights to the assets after creditors. BV is the asset values that equity holders can monetize on. If P/E is high, return is low....EPS/P = return. That is my take on it.

TOP

ramzes

Rank: 2

UID
223295 
帖子
246 
主题
96 
注册时间
2011-7-11 
最后登录
2013-8-21 
6#
发表于 2011-7-11 19:44 | 只看该作者
sbmarti2 Wrote:
-------------------------------------------------------
> According to the books, studies on all of the
> multipliers show that lower ones are more likely
> to lead to higher long term growth.


True, but people may say that the low PE, PB stocks risk is not accurately stated. while they may be the exception to the semi-strong form, peeps say the risk isnt accurate.

EMH

TOP

burnsy562000

Rank: 2

UID
223319 
帖子
202 
主题
100 
注册时间
2011-7-11 
最后登录
2016-4-15 
7#
发表于 2011-7-11 19:44 | 只看该作者
I thought high P/BV and low P/E outperform the other ones if they are operationally efficient i.e., net profit margin >0. But i was not sure about it, and we dont have a consensus on this forum either, different answers.

well... thanks guys for you inputs.

TOP

agulani

Rank: 2

UID
223253 
帖子
263 
主题
121 
注册时间
2011-7-11 
最后登录
2016-4-19 
8#
发表于 2011-7-11 19:44 | 只看该作者
A high P/BV is sort of like a high P/E: the *price* is still high. So lower is generally better ceteris paribus....

TOP

返回列表