| 单词 | 市盈率 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 释义 | 市盈率—PE ratioSee also:盈n—surplusn 盈pl—surplusespl
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港华燃气维尔京的资产及负债公平值乃根据贴现现金流量分析及参考 业内其他管道燃气公司的市盈率厘定。 towngaschina.com | The fair value of the assets and liabilities of Towngas BVI were determined based on [...] discounted cash flow analysis and with [...] reference to the price toearnings ratio of otherpiped gas [...]companies in the industry. towngaschina.com |
诚如上文表1所示，同业可资比较公司的市盈率介乎约2.0倍至84.0倍，市盈率中位数为约22.2倍。 cre8ir.com | As shown in Table 1 above, the PERs of the Industry Comparables range from approximately 2.0 times to 84.0 times,with median PER of approximately 22.2 times. cre8ir.com |
用作厘定其余金融工具公平价值之其他方法，包括现金流量贴现分析及市盈率模式等。 wingtaiproperties.com | other techniques, such as discounted cash flow analysis and price/earning multiple model, are used to determine fair value for the remaining financial instruments. wingtaiproperties.com |
附注：此乃代价180,000,000港元除以预期二零一一年除税後净利润人民币16,500,000元之隐含市盈率（按 汇率1.1305 港元兑人民币1元计算）。 equitynet.com.hk | Note: Being the implied price-earnings ratio of the [...] Consideration of HK$180 million over the expected 2011 NPAT of RMB16.5 million based [...] on theexchange rate ofHK$1.1305 = RMB1. equitynet.com.hk |
市盈率乃协议各订约方按公平原则磋 商，并经参考(i)北京控股及个别网络卓越拥有人（分别按北京控股占 [...] 51%、 曹玮占 14.7%、田野占 14.7%、钟原占 7.35%、王东斌占 7.35%及刘西玲占 4.9%之比例）个别提供之保证溢利；(ii)网络卓越集团之未来增长潜力；及 [...](iii)市场环境状况厘定。 bdhk.com.hk | The price earnings multiple was determined [...] after arm's length negotiations between all parties to the Agreement and by reference [...]to (i) the Guaranteed Profit provided severally by BEHL and the Individual CV Owners (in the proportion of 51% by BEHL, 14.7% by Cao Wei, 14.7% by Tian Ye, 7.35% by Zhong Yuan, 7.35% by Wang Dongbin and 4.9% by Liu Xiling); (ii) the future growth potential of the Cyber Vantage Group; and (iii) the market environment. bdhk.com.hk |
但是，没有什么能够阻止投资者，过滤器市盈率和 PV PA标准原教旨主义的基础上采取的一些行动，并从这些公司将所有的技术和工具，在图形分析/技术分析。 zh-cn.iniciantenabolsa.com | However, nothing prevents the investor, making a filter [...] of some actions based on criteria [...] fundamentalists withPE ratiosandPVPA,and from [...]these companies apply all the techniques [...]and tools present in the Graphical Analysis / Technical Analysis. en.iniciantenabolsa.com |
按市盈率范围乘以联营公司於其截至二零一一年三月三十一日止年度管理账目所示的纯 利约544,000,000港元计算。 cre8ir.com | Calculatedbased onthe rangeof thePER multiplied [...] by the unaudited net profits of the Associate of approximately HK$544 [...]million as shown in its management accounts for the year ended 31 March 2011. cre8ir.com |
根据所采纳之市盈率及企业机构大股东作出之溢利保证，由於私人公司缺乏市场 流通性，因此采用11.60%的折让率後得出公平值约为47,500,000港元，此乃根据视为 公平合理之预期净收率厘定，因为其依据是商业估值回顾（一九九九年十二月）第152– 155页所刊载Bruce Johnson进行之研究中介绍之客观标准。 cre8ir.com | According to the PEM adopted, and the profit guarantee made by the major shareholders of the Business Enterprise, the fair value is therefore approximately HKD47.5 million after applying a discount of 11.60 percent for lack of marketability as a private company on the basis of the expected net income margin, which is considered fair and reasonable as it is based on objective measures revealed by a research conducted by Bruce Johnson published in the Business Valuation Review (December 1999) pp.152–155. cre8ir.com |
风险经调整 WACC=13.01%+2.5%+2.01%=17.52%， 代 入 方 程 [...] 式 (1)获 得 天 基 采 纳 的 风 险 经 调整市 盈 率10.75。 cre8ir.com | Risk adjusted WACC=13.01%+2.5%+2.01%=17.52%, substituting into equation (1) to obtain the [...] risk adjusted priceearnings multipleof 10.75 [...]adopted byGA. cre8ir.com |
就此而言，吾等已 就估算GM Holdings於紧随建议首次公开招股後的市值，参考该等已於联交 [...] 所上市并主要从事博彩业务（即联营公司所经营的同一业务）且该业务所得收 益超过50%的公司（「同业可资比较公司」）的市盈率。cre8ir.com | In this regard, we have made reference to the PER for those companies listed on the Stock Exchange which are principally engaged in gaming business (being the same business activities undertaken by the Associate) with over 50% of the revenue generated from such business [...] (the ‘‘Industry Comparables’’) for [...] estimating the market capitalisation of GM Holdings [...]immediately after completion of the Proposed IPO. cre8ir.com |
鉴於各同业可资比较公司的市盈率差距 较大，为以更谨慎的方式估算 GM Holdings市值，吾等已采用同业可资比较公司的最低市盈率及市盈率中位数，以推算GM Holdings的市值。 cre8ir.com | Given the diverse spread of the PERs of the [...] Industry Comparables, for [...] estimatingthe marketcapitalisationof GM Holdings in a more prudent manner, we have used the low endvalue of the PER and the median PER of the Industry Comparables for deriving the market capitalisation of GM Holdings. cre8ir.com |
根据上文厘定之参数（由市场数据得出并经调整处理可资比较公司与企业机构之间 的差异），吾等已运用风险经调整加权平均资本成本17.52%及隐含增长率7.52%取得并 采纳经调整市盈率10.75。 cre8ir.com | According to the parameters determined above, which are derived from market data and adjusted to address difference between the Comparables and the Business Enterprise, we [...] obtained and adopted an [...] adjusted PEM of 10.75 using the risk adjusted WACC of 17.52 percent and the IGR of 7.52 percent. cre8ir.com |
董事会认为，天基评估在达致实际 市盈率约 9.503倍时已处理企业风险差异及私人公司 [...] 缺乏市场流通性等因素。 cre8ir.com | The Board takes the view that when GA Valuation arrived at the [...] effective price earningsmultiple of approximately [...]9.503, GA Valuation has already [...]handled the factors of difference in business risk and lack of marketability of private company. cre8ir.com |
根据该等交易分析之衍生倍数（最常使用者为：市盈率、市价收益率及市账率）之後将应用於目标业务实体之基本财务变量，从而取得 [...] 其指标价值。 cre8ir.com | The derived multiples (most commonly [...] used are: price to earnings, priceto revenues [...]and price to book multiple) based on [...]analyses of those transactions are then to be applied to the fundamental financial variables of the subject business entity and to arrive at an indicated value of it. cre8ir.com |
根据这一模式，投资者对增长预期的微小变化对估值会产生重大影响；准确的说，长期 EPS 增长预期的仅五个百分点的变化，意味着 15.1 倍市盈率的增加或减少（视情况而定）。 china.blackstone.com | According to this model, small changes in investor growth expectations have big implications for valuation; precisely, a change in long-term [...] EPS growth [...] expectations of only five percentage points implies an increase or decrease, as the case may be, in theP/E ratioof 15.1x. blackstone.com |
若可供出售财务资产并无当前或最近价格，则可供 出售财务资产之公平值乃以估价模式 (包括现金流 量折现模式或市盈率模式) 厘定。 wingtaiproperties.com | If information on current or recent prices of available-for-sale financial assets is not available, the fair values of available-for-sale financial [...] assets are determined using valuation techniques (including discounted cash [...] flow model orprice/earnings multiple model). wingtaiproperties.com |
目 标 集 团 之 公 平 值 [...] 47,500,000港元乃透过使用估值报告中所采用之目标集团之经调整市盈率倍数约10.75倍後 达致，并经计及目标集团为私人公司，缺乏市场流通性，因此采用11.60%的折让率。 cre8ir.com | The fair value of the Target Group of HK$47,500,000 was [...] arrived at by using [...] the adjusted priceearnings multiple ofapproximately [...]10.75 for the Target Group as adopted in thevaluation report taking into consideration [...]of a discount rate of 11.60% for lack of marketability as the Target Group are private companies. cre8ir.com |
虽 然美国（比重偏高，市盈率为10 .9）和欧洲（比重偏低， 市盈率为8.8）的估值差距显着，但这反映美国市场具防守特性。 abnamroprivatebanking.com | The valuation gapbetween the US (Overweight, with a price–earnings ratio of 10.9) and Europe (Underweight, with a price–earnings ratioof 8.8) is significant, [...] but reflects [...]the defensive nature of the US market. abnamroprivatebanking.com |
经审查从事类似业务之 中国其他上市公司之经调整市盈率（高於9）及雅威与中国公司之过往财务资料後，吾等 认为溢利保证之厘定及使用市盈率9乃属公平合理。 cre8ir.com | Having reviewed the adjusted price-earnings ratios [...] of other listed companies in the PRC engaging in similar business which is higher than 9 and the historical financial information of Grace Power and the PRC Company, we are of the view the determination of the Profit Guarantee and using a price earningsratio of 9 is fair and [...]reasonable. cre8ir.com |
旭硝子最近宣布调低营运溢利预测，但按13.6倍的市盈率计算，其估值依然吸引，相比同业有31%的折让。 principal.com.hk | Asahi recently lowered operating profit forecasts but valuation remains attractive trading 13.6x P/E, a 31% discount relative to its peers. principal.com.hk |
增长较慢的行业，如硬件和 IT 服务，获得市盈率较低。 china.blackstone.com | Sectors that grow less quickly, such as Hardware and IT Services, achieve lower multiples. blackstone.com |
如上表所示，可资比较公司之市盈率介乎 约16.09倍至约42.21倍，平均 市盈率约为26.14倍。 cre8ir.com | As shown in the above table, the P/E of the [...] comparables ranges from approximately [...] 16.09 times to approximately 42.21 times and the average P/E is approximately 26.14 times. cre8ir.com |
但是到最后，平均而言，这些估值与普通的旧的基本原理仍然是紧密相关的；这些公司之所以能达到这样的市盈率，是因为投资者相信，它们可以提供长期的持续的高盈利增长。 china.blackstone.com | But at the end of the day, on average, those valuations are tied to plain old fundamentals; these [...] companies trade where they do because investors believe they can deliver high [...] and sustained earnings growth over the [...]long-term. blackstone.com |
为进一步评估该等收购事项之代价，吾等亦已将估值师挑选之上述与天锻及 天发设备专注相同或相似行业之相关可资比较公司之市盈率（「市盈率」）及市账率 （「市账率」）与该等收购事项代价之市盈率及市账率（以该等收购事项之代价所反 映）比较。 cre8ir.com | To further evaluate the consideration for the Acquisitions, we have also compared the price to earnings multiple (‘‘P/E’’) and the price to book value multiple (‘‘P/B’’) of the respective comparables identified by the Valuer focusing on the same or similar industries as Tianduan and Tianfa Equipment as discussed above against the P/E and P/B of the Acquisitions represented by the consideration of the Acquisitions. cre8ir.com |
根据可资比较公司的平均市盈率（「市盈率」） 及加权平均资本成本（下称「加权平均 资本成本」），我们乃根据戈登增长模型求解方程式市盈率=（ 1+隐含增长率）7（加权 平均资本成本 – 隐含增长率）得出隐含增长率（「隐含增长率」）为7.52%。 cre8ir.com | Based on the average priceearnings multiple (‘‘PEM’’) and the weighted average cost of capital (hereinafter referred to as ‘‘WACC’’) for theComparables,we obtained an implied growth rate (‘‘IGR’’) of 7.52 [...] percent by resolving the equation [...]PEM = (1 + IGR) 7 (WACC – IGR) derived on the basis of Gordon growth model. cre8ir.com |
(ii) 可供出售金融资产之公平价值 [...] 倘可供出售金融资产并无当前或最近价格资料，则可供出售金融资产之公平价值乃以估值方法（包括现金 流量贴现模式或市盈率模式）厘定。 wingtaiproperties.com | If information on current or recent prices of available-for-sale financial assets is not available, the fair values of available-for-sale financial [...] assets are determined using valuation techniques (including discounted cash [...] flow model or price/earnings multiple model). wingtaiproperties.com |
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