1個回答
Vicky助教
2020-09-15 10:07
該回答已被題主采納
同學你好，
這里是根據(jù)P/E的公式反求P
P0=P0/E1×E1，
根據(jù)公式，Justified forward P/E is P0/E1 = 1-b/(r – g), b已知，等于50%，我們需要知道g
根據(jù)公式，g = (1 – Payout ratio) × ROE = (1 –0.5) ×10% = 5%,
Justified forward P/E = P0/E1 = 0.5/ (0.15- 0.05) = 5x,
So Intrinsic value = 5 × $2= $10.
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