问题如下：
Kent, a researcher in a securities firm, is covering companies in the real estate field. HomeWithLove is the leading company in this field and it just released its last year’s financial report, which shows that the company has a reported basic EPS of $56, and a diluted EPS of $52. By checking the notes in the company’s financial report, Kent found that the company has a nonrecurring gain of $2 per share and a nonrecurring restructuring cost of $3 per share arising from last year’s acquisition.
By using the top-down approach, Kent estimated that HomeWithLove will have a basic EPS of 76 for the following year. The company’s current stock price is $72. Kent wants to compare the relative value in the real estate field by using the trailing P/E ratio.
According to the information above, what is the company’s trailing P/E?
选项：
A. 0.95
B. 1.44
C. 1.36
解释：
C is correct.
考点：考察diluted EPS中对non-recurring items的调整。
解析：本题给了Basic EPS和diluted EPS，在求P/E ratio时，diluted EPS是更为合适的EPS。同时由于Diluted EPS中，存在Nonrecurring gains and Nonrecurring costs，要减去不会再发生的利润，加回不会再发生的费用。这样经过调整后的EPS能反映公司的经营常态。在本题diluted EPS $52的基础上减去$2的收入，加回3的费用，得到调整后的EPS为53。则trailing P/E=72/53=1.36.
老师，看到这里一级的top-down approach是什么方法来着，忘记了