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How to tell when a stock is undervalued?
How to tell when a stock is undervalued?
From free introductory classes to advanced trading strategies, we aim to help you increase your knowledge and trade smarter. Let's make investing easier and not alone.
-Moomoo News Team
Overview
In this article, we will go through some questions like:
What is Price-To-Book (P/B) ratio?
Why use the P/B ratio?
How to use the P/B ratio?
Limitations of using P/B Ratio
How to check out the P/B ratio of a stock?
What is Price-To-Book (P/B) ratio?
The formula of the P/B ratio is:
To determine a company's book value, you'll need to look at its balance sheet.
Also known as shareholder's equity or stockholder's equity, this amount is equal to the company's assets minus its liabilities.
In other words, if a company liquidated all of its assets and paid off all its debt, the value remaining would be the company's book value.
Key takeaway: The P/B ratio measures the market's valuation of a company relative to its book value.
Why use the P/B ratio?
A lower price-to-book ratio could indicate that a stock is undervalued. When you're comparing two stocks with similar growth and profitability, P/B can be useful for determining which is the best value at a given moment.
Using P/B ratio
On the surface, it's an effective metric that can compare a stock's market cap to what it owns versus what it owes.
Traditionally, any value under 1.0 is considered a good P/B value, indicating a potentially undervalued stock.
Depending on the industry, many companies' asset costs are priced not according to market value but value carried at the time of acquisition.
It's helpful to identify some general parameters or a range for P/B value, and then consider various other factors and valuation measures that more accurately interpret the P/B value and forecast a company's potential for growth.
Key takeaway: The market value of equity is typically higher than the book value of a company, P/B ratios under 1 are typically considered solid investments.
Limitations of using P/B Ratio
When accounting standards applied by firms vary, P/B ratios may not be comparable, especially for companies from different countries. Additionally, P/B ratios can be less useful for service and information technology companies with little tangible assets on their balance sheets.
How to check out the P/B ratio of a stock
Take $Bank of America Corporation(BAC.US)$ for an example:
Go to the Quotation page and click the "Analysis" tab.
Then you will be able to see the current P/B ratio as well as its historical trend(going upward).
Source: The Motley Fool, Investopedia
Editor: Tommy
From free introductory classes to advanced trading strategies, we aim to help you increase your knowledge and trade smarter. Let's make investing easier and not alone.
-Moomoo News Team
从免费入门课程到高级交易策略,我们的目标是帮助您增长知识和更聪明地交易。让我们让投资变得更容易,而不是孤军奋战。
--Moomoo新闻团队
Overview
概述
In this article, we will go through some questions like:
在本文中,我们将讨论一些问题,例如:
What is Price-To-Book (P/B) ratio?
Why use the P/B ratio?
How to use the P/B ratio?
Limitations of using P/B Ratio
How to check out the P/B ratio of a stock?
什么是市净率(P/B)?
为什么要用市盈率?
如何使用市盈率?
使用市盈率的局限性
如何计算股票的市盈率?
What is Price-To-Book (P/B) ratio?
什么是市净率(P/B)?
The formula of the P/B ratio is:
市盈率的计算公式为:
To determine a company's book value, you'll need to look at its balance sheet.
要确定一家公司的账面价值,你需要看它的资产负债表。
Also known as shareholder's equity or stockholder's equity, this amount is equal to the company's assets minus its liabilities.
也称为股东权益或股东权益,这个数额等于公司的资产减去负债。
In other words, if a company liquidated all of its assets and paid off all its debt, the value remaining would be the company's book value.
换句话说,如果一家公司清算了所有资产,还清了所有债务,剩下的价值就是公司的账面价值。
Key takeaway: The P/B ratio measures the market's valuation of a company relative to its book value.
主要结论:市盈率衡量的是市场对一家公司的估值相对于其账面价值。
Why use the P/B ratio?
为什么要用市盈率?
A lower price-to-book ratio could indicate that a stock is undervalued. When you're comparing two stocks with similar growth and profitability, P/B can be useful for determining which is the best value at a given moment.
较低的市净率可能表明一只股票被低估了。当你比较两只成长性和盈利能力相近的股票时,市盈率可能有助于确定在给定时刻哪只股票的价值最高。
Using P/B ratio
使用P/B比率
On the surface, it's an effective metric that can compare a stock's market cap to what it owns versus what it owes.
从表面上看,这是一个有效的衡量标准,可以将一只股票的市值与其拥有的和所欠的进行比较。
Traditionally, any value under 1.0 is considered a good P/B value, indicating a potentially undervalued stock.
传统上,任何低于1.0的值都被认为是良好的市盈率,表明股票可能被低估。
Depending on the industry, many companies' asset costs are priced not according to market value but value carried at the time of acquisition.
根据行业的不同,许多公司的资产成本不是根据市场价值而是根据收购时的价值来定价的。
It's helpful to identify some general parameters or a range for P/B value, and then consider various other factors and valuation measures that more accurately interpret the P/B value and forecast a company's potential for growth.
确定市盈率的一些一般参数或范围,然后考虑其他各种因素和估值方法,以便更准确地解释市盈率,预测公司的增长潜力,这是很有帮助的。
Key takeaway: The market value of equity is typically higher than the book value of a company, P/B ratios under 1 are typically considered solid investments.
要点:股票的市值通常高于公司的账面价值,市盈率低于1通常被认为是可靠的投资。
Limitations of using P/B Ratio
使用市盈率的局限性
When accounting standards applied by firms vary, P/B ratios may not be comparable, especially for companies from different countries. Additionally, P/B ratios can be less useful for service and information technology companies with little tangible assets on their balance sheets.
当公司采用不同的会计准则时,市盈率可能不具有可比性,特别是对于来自不同国家的公司而言。此外,P/B比率可能对服务和信息技术公司用处较小资产负债表上几乎没有有形资产。
How to check out the P/B ratio of a stock
如何检查股票的市盈率
Take $Bank of America Corporation(BAC.US)$ for an example:
拿走$美国银行(BAC.US)$例如:
Go to the Quotation page and click the "Analysis" tab.
转到报价页面并单击“分析”标签。
Then you will be able to see the current P/B ratio as well as its historical trend(going upward).
然后你就可以看到当前的市盈率以及它的历史趋势(上升)。
Source: The Motley Fool, Investopedia
来源:The Motley Fool,Investopedia
Editor: Tommy
编辑:汤米
moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
风险及免责提示
moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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