Price Earning Ratio

operational and earnings growth. b) PER The higher the PER level the riskier the bet, you bet that you will earn most of your earnings in the future. c) eps > REV > ROE (~ ROA) > wealth creation objective With this criterion we have eliminated 95% of European companies and 85% of American. Principle #3: Capital invested a) Stock market prices are not reliable estimators of intrinsic value In fact the informational content of the stock market price are worthless

totalité en fin de vie (cas d'un zéro coupon). Soit : Vie moyenne du titre / Prix du titre avec Ci = valeur future du cash-flow i PV(Ci) = valeur présente du cash-flow i Ti = temps jusqu'au cash-flow i EBIT (Earning Before Interests and Taxes) : voir résultat d'exploitation EBITDA (Earning Before Interests, Taxes, Depreciation, and Amortization) : voir excédent brut d'exploitation Effet de levier : Explique la différence entre la rentabilité des capitaux propres et la rentabilité économique

evaluation, by putting alternatives and evaluations criteria and getting at the end global scores, partial scores and ratings. * CAMELS Ratings: is also a multicriteria based evaluation, but that already set to: Capital Assets, Management, Earnings, Liquidity and Sensitivity to market risk to rate the commercial banks. On the other hand, we looked at the factors that affect stock markets, and we find a lot of factors discussed, and they are going from terrorism and wars to more obvious ones

importantes acquisitions, néanmoins une analyse par ratios serait plus pertinente. 5. Capacité de Couche-Tard à faire face à ses obligations à court terme Analyse de la Liquidité et de la Solvabilité Ratios | Industrie 2009 | 2010 | 2009 | Ratio de fonds de roulement | 1,40 | 1,16 | 1,07 | Ratio de liquidité relative | 0,64 | 0,38 | 0,35 | Ratio de liquidité immédiate | n/d | 0,25 | 0,21 | Le ratio du fonds de roulement affiche une légère augmentation

the trading period. Section 1: Introducing the stock General Information on the Stock Stock: Kraft Food (KFT) New York Stock Exchange Purchase price: $29.05 52 week hi and low: 23.55 - 31.09 Market capitalization: 44.23B Mean analyst Recommendation: 2.1/5 Annual Dividend and yield: 3.90% One-year target price: $33.53 Short interest ratio: 2.2 % shares held by institutions: 42.20 % % shares held by insiders: 8.02% Beta : 0.59 Company Profile Kraft Food (KFT) is a company that

SPECULATIVE BUBBLE: Asset price bubble represents a major risk for our global linked economies. Few people are responsible but everybody has to face the brutal consequences of the bubble on the real economy. The subprime crisis drew public opinion against the unrestrained financial system that seems favoured. Media level criticism at the bankers who contribute to widen the gap between rich and poor people. Nowadays, in people’s mind, finance is assimilated to speculative behaviours led by an endless

Value” When you ask the question “what is the value of a company?”, the answer is quite often: “the price somebody’s ready to pay for it”. This answer looks reasonable, but is useless when it comes to set up the conditions of an IPO or take an investment or divestment decision. The price paid by anybody is the result of a transaction. In any transaction, there is a buyer and a seller. If the transaction price is, say, $100, it means that both parties agreed to exchange the asset against this amount of

Financial Analysis 6 5.1 Difference Analysis 6 5.1.1 Summary of Difference Analysis 6 5.2 Tesco Investors Ratios 6 5.2.1 Earnings Per Share EPS and Dividends 6 5.2.2 Forecast of Tesco Future earnings 8 5.3 Margin Analysis 8 5.3.1 Profit Margin Ratios 8 5.3.2 Impact of low Margins (Worst case) in Future 9 5.4 Financial Ratio: PERL Accounting Ratios 9 5.4.1 Measuring Performance: 9 5.4.2 Measuring Efficiency: 11 5.4.3 Risk Measurement 13 5.4.4

Financière (V.F.). ................................................................................................ 5 2.6. Valeur de Rendement (V.R.). ......................................................................................... 5 Chapitre 3. RATIOS DU BILAN PATRIMONIAL. ...................................................................... 5 3.1. Liquidité. .......................................................................................................................... 5 3.1.1. Liquidité

Le plus connu et probablement le plus utilisé des multiples du résultat est le PER (Price Earning Ratio).PER = Cours / BPAMais d’autres multiples sont fréquemment utilisés:Le PER relatif,Le PEG (Price Earning to Growth),Le multiple de l’EBITDA,Le multiple de l’EBITLe PER Va = BPA société x PER moyen échantillon Vcp = RN société x PER moyen échantillonavec Va = valeur de marché des actions Le PEG (Price Earnings to Growth) Le PEG est considéré comme étant plus efficace que le PER lorsque les sociétés