m**x
发帖数: 8454 | 1 以下是IBM统计数据： 8%不到的ROA居然 有 近 50%的ROE。 这是说明IBM借了好多债吗
？ 但是 earnings per share才 $14.66， 股价却有$180多， 所以是10%不到，和50%
相去甚远。 说明IBM股价过高了？ 那IBM是不是个好投资？
Key stats and ratios
Q1 (Mar '14) 2013
Net profit margin 10.60% 16.52%
Operating margin 13.25% 19.57%
EBITD margin - 24.57%
Return on average assets 7.68% 13.43%
Return on average equity 48.54% 79.15%
Employees 431,212 -
CDP Score - 86 B
https://www.google.com/finance?q=NYSE%3AIBM&ei=FRGWU7j1NNCy6wGaioCwCg | r****m
发帖数: 1204 | 2 1. 这是说明IBM借了好多债吗? I think you can say that, but 借了好多债 alone
doesn't tell you much it's good or bad.
2. 说明IBM股价过高了? If you know IBM's long term cost of equity (COE) and
growth rate (g), then you can come to a better judgement, at this time you
can't simply look at ROE and PE and jump to the conclusion.
Recall, PE = (ROE - g) / [ROE*(COE-g)] | m**x
发帖数: 8454 | 3 Thanks for your comment. However, your PE is referring to EPS or Price/
Earning ratio?
【在 r****m 的大作中提到】
: 1. 这是说明IBM借了好多债吗? I think you can say that, but 借了好多债 alone
: doesn't tell you much it's good or bad.
: 2. 说明IBM股价过高了? If you know IBM's long term cost of equity (COE) and
: growth rate (g), then you can come to a better judgement, at this time you
: can't simply look at ROE and PE and jump to the conclusion.
: Recall, PE = (ROE - g) / [ROE*(COE-g)]
| r****m
发帖数: 1204 | 4 My PE is P/E.
I thought you were trying to say E/P should be roughly ROE, what I wanted to
show you is that there are two more key variables in the equation, and it's
those unknown variables making stock picking difficult. |
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