“Draft:Economic P-E”的意思、由来-开放百科全书

词条

Draft:Economic P-E

释义

Formula
References
Further reading

{{AFC submission|d|nn|u=TheRealInvestor|ns=118|decliner=Frayae|declinets=20181112224932|ts=20180919163600}} {{AFC submission|d|nn|u=TheRealInvestor|ns=118|decliner=Robert McClenon|declinets=20180918023326|small=yes|ts=20180917102313}} {{AFC comment|1=To establish that the concept is notable, please provide references to the effect that the concept is used in business publications or in textbooks. Robert McClenon (talk) 02:33, 18 September 2018 (UTC)}}

Economic P/E^[1], or economic price-to-earnings ratio, is an advanced valuation multiple originally created by Deutsche Bank's equity research team in 1996. It can be thought of as a comparison of the valuation of a company's assets (measured by economic price-to-book) with the profitability of those assets (CROCI). It is extensively used within DWS for systematic stock selection.^[2]

The metric was developed in order to allow investors to compare companies in different sectors and countries with a high degree of confidence.

Formula

^[3]

Where:

Enterprise Value - the real market price of a company’s assets
Net Capital Invested - the real replacement cost of a company’s assets
CROCI – “Cash Return on Capital Invested”, the real economic rate of return on those assets

References

1. ^{{cite web | url=https://www.ft.com/content/87f4e53e-cac8-11e3-ba95-00144feabdc0 | title=Subscribe to read}}
2. ^{{cite web | url=https://croci.dws.com | title=DWS | Active, Passive, Alternative Solutions}}
3. ^ Costantini, Pascal (2006), Cash Return on Capital Invested: Ten Years of Investment Analysis with the CROCI Economic Profit Model, 1st edition

Formula

References

Further reading