返回列表 发帖
As you know, what we calculate as intrinsic value by using different metholodigies (DDM, FCFE etc.) is not equal to the security's price most of the time. Those "justified" formulas give you what the ratios would be if the price equaled the intrinsic value. So, if you find that the justified P/E is 10 while the P/E calculated with the market price is 8, you should infer that the stock is overpriced.

TOP

Oh, and dividend yield is D0/P0...

P0 = D1/r-g = D0(1+g)/r-g
P0/D0 = 1+g/r-g

Invert them...

D0/P0 = r-g/1+g

TOP

返回列表