冇知识冇文化 · 2020年01月07日
* 问题详情，请 查看题干
问题如下：
2. Based on its justified leading P/E and the Gordon growth model, XYZ stock is:
选项：
A.undervalued.
B.fairly valued
C.overvalued.
解释：
B is correct.
The justified leading P/E is calculated as
where b is the retention ratio, 1 – b is the dividend payout ratio, r is the discount rate, and g is the long-term growth rate.
The justified leading P/E is
XYZ’s actual leading P/E is
Because the justified leading P/E equals the actual leading P/E, the stock is fairly valued.
答案没有显示计算过程
NO.PZ201710200100000302 问题如下 2. Baseon its justifieleang P/E anthe Gorn growth mol, XYZ stois: A.unrvalue B.fairly value C.overvalue B is correct.The justifieleang P/E is calculateasP0/E1=(1−b)(r−g)where b is the retention ratio, 1 – b is the vinpayout ratio, r is the scount rate, ang is the long-term growth rate.The justifieleang P/E isP0/E1=0.8/(0.07−0.03)=20XYZ’s actuleang P/E isP0/E1=10/0.5=20Because the justifieleang P/E equals the actuleang P/E, the stois fairly value P0=0.8 这个数据哪里来的啊
NO.PZ201710200100000302 问题如下 2. Baseon its justifieleang P/E anthe Gorn growth mol, XYZ stois: A.unrvalue B.fairly value C.overvalue B is correct.The justifieleang P/E is calculateasP0/E1=(1−b)(r−g)where b is the retention ratio, 1 – b is the vinpayout ratio, r is the scount rate, ang is the long-term growth rate.The justifieleang P/E isP0/E1=0.8×(0.07−0.03)=20XYZ’s actuleang P/E isP0/E1=100.5=20Because the justifieleang P/E equals the actuleang P/E, the stois fairly value 老师你好【第一个疑问】题干说baseon justifieleang P/E anthe GGM。但justifieleang P/E不就是用GGM推导出来的(1-b)/(r-g)吗，为啥题干把它说的像是两个不同的leang P/E呢？而且解析里面提到actuleang P/E，意思是GGM涉及到的是actuleang P/E而不是justifieleang P/E？【第二个疑问】把数字代入(1-b)/(r-g)，我可以算出正确答案；但我把下面这些数字代进去(1+g)/E1(r-g)，算不出正确答案，我是代入错误的数字，还是哪里理解错了？ = current yeearning 0.45 x vinpayout ratio 80% = 0.36(1+g) = 1.03E1 = 0.5(r-g) = 0.04
NO.PZ201710200100000302问题如下2. Baseon its justifieleang P/E anthe Gorn growth mol, XYZ stois: A.unrvalue B.fairly value C.overvalue B is correct.The justifieleang P/E is calculateasP0/E1=(1−b)(r−g)where b is the retention ratio, 1 – b is the vinpayout ratio, r is the scount rate, ang is the long-term growth rate.The justifieleang P/E isP0/E1=0.8×(0.07−0.03)=20XYZ’s actuleang P/E isP0/E1=100.5=20Because the justifieleang P/E equals the actuleang P/E, the stois fairly value 如果justifieleang PE ＞ actuleang P/E，是unrvalue，请下原因
NO.PZ201710200100000302 XYZ’s actuleang P/E is P0/E1=100.5=20 首先答案错了应该是P0/E1=100/5=20 再者，100和5是哪里取值？
NO.PZ201710200100000302 0.8/（0.7-0.3）=16为什么显示20？ 10/0.5=20 ,他俩怎么就”=“成为fair value？
