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投资学习笔记之 Earnings Yield 收益率  

2010-05-21 21:51:02|  分类: 读书 学习 |  标签: |举报 |字号 订阅

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Earnings Yield

What Does It Mean?
What Does Earnings Yield Mean?
The earnings per share for the most recent 12-month period divided by the current market price per share. The earnings yield (which is the inverse of the P/E ratio) shows the percentage of each dollar invested in the stock that was earned by the company.' mstchunk="true">The earnings per share for the most recent 12-month period divided by the current market price per share. The earnings yield (which is the inverse of the P/E ratio) shows the percentage of each dollar invested in the stock that was earned by the company.

The earnings yield is used by many investment managers to determine optimal asset allocations.

 

名词解释

1.earnings yield   收益率,所得收益
2.invest in stock   投资于股票

  收益率,是市盈率P/E的倒数。计算方法是,用最近十二个月期间的每股收益,除以当前股价

它的意思是,投资该公司股票每一元钱收益的比例。

如此从纯粹投资角度看,当然是越高越好了。而P/E是越低越好?据说也不一定,好像是有个范围,也不清楚。
  收益率是许多投资经理用来确定最佳的资产分配的一个参数。

Investopedia explains Earnings Yield
Money managers often compare the earnings yield of a broad market index (such as the S&P 500) to prevailing interest rates, such as the current 10-year Treasury yield. If the earnings yield is less than the rate of the 10-year Treasury yield, stocks as a whole may be considered overvalued. If the earnings yield is higher, stocks may considered undervalued relative to bonds.

Economic theory suggests that investors in equities should demand an extra risk premium of several percentage points above prevailing risk-free rates (such as T-bills) in their earnings yield to compensate them for the higher risk of owning stocks over bonds and other asset classes.
  Investopedia 解释“收益率”。  

基金经理往往在比较大宽广的范围比较市场指数的投资收益率(比如:标准普尔500指数) 和常用的利率进行比较,例如当前10年期国债收益率。如果股票的收益率小于10年期国债收益率,总体来说,股票被认为是高估了。反之,则认为股票被低估。

经济理论认为,在股市的投资者应该要求额外比通常的无风险利率(如T-bills)的风险溢价高几个百分点。用以弥补他们的高收益,高风险。

以上原文来自网络,姣姣只是翻译学习而已,不负责版权。

翻译得头都大了。。。投资学习笔记之 Earnings Yield 收益率 - 蛟蛟 - 花香满衣 -- 蛟蛟的空间

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