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- · 2024年10月30日

老师,请问三个选项分别对应的公式是啥

NO.PZ2022061307000092

问题如下:

Question Equity valuation models that are based on a ratio of share price to some fundamental variable are best described as:

选项:

A.multiplier models. B.present value models. C.asset-based valuation models.

解释:

Solution

A is correct. Multiplier models are based chiefly on share price multiples or enterprise value multiples. Models based on share price multiples estimate the intrinsic value of a common share from a price multiple for some fundamental variable, such as revenues, earnings, cash flows, or book value.

B is incorrect because present value models estimate the intrinsic value of a security as the present value of the future benefits expected to be received from the security (without consideration of the firm’s enterprise value or share price).

C is incorrect because asset-based valuation models estimate the intrinsic value of a common share from the estimated value of the assets of a corporation minus the estimated value of its liabilities and preferred shares (without consideration of the firm’s enterprise value or share price).

如题

1 个答案
已采纳答案

王园圆_品职助教 · 2024年10月30日

同学你好

A是乘数模型,对应的是用譬如 行业P/E*公司Earnings =公司合理估值 这样的公式计算公司价值,但是这个乘数是有好几个的,可以是P/S,P/B,P/CF等,根据乘数分母不同,给出的公司信息也不同

B是未来现金流折现模型,就是DDM,GGM和FCFE估值模型

C是asset-based model,就是公司合理估值 = asset market value - liability market value

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