请教CFA Notes-4 2013版本P305 Equity Valuation Example: Fundamental P/E ratio

是 否 +2 论坛币

k人 参与回答

经管之家送您一份

应届毕业生专属福利!

求职就业群

赵安豆老师微信：zhaoandou666

经管之家联合CDA

送您一个全额奖学金名额~ !

立即领取

感谢您参与论坛问题回答

经管之家送您两个论坛币！

+2 论坛币

疑问：例题Exampe:Fundamental P/E ratio Comparison

Holt Industries makes decoratie items... (A comparison between Holt and Industry average.)

Second item in Answers:
Higer growth in sales suggests that Holt will be able to increase dividends at a faster rate, which supports Holt having a higher P/E ratio than the industry.

为什么高销售额就一定会增长dividends at a faster rate? 其实有两点疑问：
1. Dividends 的Increase 与否在于Earnings 不在与sales, Margin低 Earnings照样不达标
2. 就算Earnings 达标了 比同行业的高，也不一定会转嫁到Dividends上, 还要看保留率

感觉例题有点主观臆断，待求高手解释。

扫码加我 拉你入群

请注明：姓名-公司-职位

以便审核进群资格，未注明则拒绝

分享0 收藏0 回帖

关键词：Fundamental Fundamenta Valuation example Mental comparison industry increase Answers average