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市盈率连接股票市场定价和会计收益两项指标,从时点上看,只受股票价格和每股收益这两项因素影响,但实际影响因素复杂。股票价格是否高估或低估的评价标准是看其反映的企业的内在价值。企业股权内在价值包括企业现有业务和增长机会组合预期在未来能够持续产生的现金流期限结构的现值。
Price-earnings ratio to connect the stock market pricing and accounting earnings two indicators, from the point of view, only by the stock price and earnings per share of these two factors, but the actual impact of complex factors. Whether the stock price is overvalued or underestimated is based on the intrinsic value of the firm it reflects. The intrinsic value of the firm’s equity includes the present value of the cash flow maturity structure that the company’s existing business and growth opportunity portfolio are expected to sustain in the future.