NO.PZ201612170200000303
问题如下：
3. Based on Exhibit 2, the price-to-book multiple for Centralino is closest to:
选项：
A.2.0.
B.2.2.
C.2.5.
解释：
B is correct. Price to book is calculated as the current market price per share divided by book value per share. Book value per share is common shareholders’ equity divided by the number of common shares outstanding. Common shareholders’ equity is calculated as total shareholders’ equity minus the value of preferred stock
Thus:
Common shareholders’ equity = €1,027 – €80 = €947 million
Book value per share = €947 million/41.94 million = €22.58
Price-to-book ratio (P/B) for Centralino = €50/€22.58 = 2.2
老师题干不是已经说了826的common stock吗？为什么还需要用total equity减去prefred stock？
