trailing P/E

问题如下：

An analyst gathers the following information about two companies:

Which of the following statements is most accurate?

选项：

A.

Delta has the higher trailing P/E multiple and lower current estimated P/E multiple.

B.

Alpha has the higher trailing P/E multiple and lower current estimated P/E multiple.

C.

Alpha has the higher trailing P/E multiple and higher current estimated P/E multiple.

解释：

B is correct.

P/E = Current price/EPS, and Estimated P/E = Current price/Estimated EPS.

Alpha P/E = $57.32/$3.82 = 15.01

Alpha estimated P/E = $57.32/4.75 = 12.07

Delta P/E = $18.93/$1.35 = 14.02

Delta estimated P/E = $18.93/$1.40 = 13.52

考点：Price Multiple Approach

这道题问的是根据表格数据来计算乘数，并根据计算结果进行比较（比较的是数值）看选项哪个说的是正确的。

A：说反了。delta trailing P/E=14.02< alpha trailing PE =15.01

C：说反了。alpha estimated PE =12.07<delta estimated P/E=13.52

estimated PE就是forward PE或leading PE。