Stock analysis ratios & manhamba

Stock ratios: nhamba dzakanyanya kukosha dzekuongorora kwakakosha

Iwo mareshiyo mukutengesa anokupa zvakakosha zviratidzo zvei mumatanda vane zvavanogona uye vasina. Ivo vanoshandiswa kupfuura zvese mu fundamental analysis. Nenzira iyi, unotarisa kukosha kwemukati kwemakambani uye edza kuona kuti vari kuita purofiti yakagadzikana uye vane fungidziro yakanaka.

Wobva wafananidza kugova reshiyo nemusika wemasheya. Ndeipi kukosha kwevanoisa mari uye kwakanaka here kana kuti kwakarurama kana kuchienzaniswa nekwaniso chaiyo? Pakati pezvimwe zvinhu, unogona kuenzanisa purofiti, kukosha kwebhuku uye mutengo nemutengo wazvino. Nenzira iyi, iwe unosvika pakukwanisa kusakosha kana kuwandisa. Kunyanya kukosha uye kukura vatengesi vanoshandisa rudzi urwu rwekuongorora masheya ivo pachavo.

Mareshiyo akanyanya kukosha emasheya aunofanirwa kuziva ndeaya:

• Kambani purofiti uye mihoro pachikamu chimwe nechimwe
• Book value per share
• Turnover per share
• Kuyerera kwecash
• Kubudirira
• Mutengo-mubairo (reshiyo yeP/E)
• Mutengo-ku-bhuku reshiyo (P/B reshiyo)
• Mutengo-ku-kutengesa-chiyero
• Mutengo-kune-cash-flow ratio
• Mutengo-mubairo-kukura chiyero
• Enterprise Kukosha
• Dividend/dividend goho
• Ipai
• Beta factor

Iko kukosha kwemukati: purofiti yekambani, kukosha kwebhuku, kutendeuka uye kuyerera kwemari pachikamu

Iko kukosha kwemukati kwemakambani, sekutaura, data rezvemari rinobva mukuita kwehupfumi mukati megore rimwe. For traders, chinonyanya kutariswa pane purofiti. Izvi zvinoburitswa kota uye zvinopfupikiswa pakupera kwegore. Izvi zvinobva zvaguma nemuhoro wakakosha pachikamu chimwe nechimwe, ayo anoshandiswa kuverenga mamwe manhamba akakosha. Nekudaro, purofiti yekambani haisi iyo yega parameter inoenderana nekukosha kwemukati kwekambani. Saka iwe unofanirwa zvakare kutarisisa kune kwakachena kutendeuka uye kuyerera kwemari mukuongororwa kwako kwekugovana. Iyo yekupedzisira inotsanangura iyo mvura inoyerera mari, kureva iyo inopinda uye inobuda kunze kweiyo fictitious values.

Izvo zvisiri mvura zvinowanzoiswa zvakasimba muzvinhu zvinobatika uye real estate. Chokwadika, izvi zvinewo ukoshi husingafaniri kurerutswa. Iko kukosha kwebhuku kunorekodha zvese izvi zvakasiyana kunze kwemari yakakweretwa. Inokupa chiratidzo chekuti zvingani zvinhu izvo kambani ichine ruoko rwayo.

Purofiti/muhoro pamugove wega wega

Kuti uverenge mihoro yekambani pachikamu chimwe nechimwe, tora zviri pamutemo zvekupera kwegore kubva ku Chiyero papepa uye ugomugovanisa neuwandu hwemigove. Nenzira iyi iwe unotyora iyo yepamutemo purofiti yegore kune yega mugove uye ziva chaizvo kuti yakawanda sei bepa iri rakakosha. Gare gare, unogona kuenzanisa purofiti yemukati nemutengo wayo uye nekudaro wopedzisa kugona kwayo kusati yaonekwa.

Turnover/Seles per share

Turnover ndiyo mari yakachena yekambani. Sezvo mari yekushandisa isingabatanidzwe pano, chiyero ichi chakakwira zvakanyanya pane purofiti. Kutarisa kukosha uku kunonyanya kufadza kumakambani achiri madiki uye anoda kwazvo kuisa mari.

Nekuda kwekushandiswa kwakanyanya kwekutenga kutsva uye kuvandudzwa kwemazano matsva, purofiti pachayo inowanzove yakaderera. Mutengo-mubairo wechiyero unogona kuratidza kuwedzeredza kukuru pano. Turnover, kune rumwe rutivi, inoratidza kubudirira iyo kambani iri kutengesa mumusika. Zvinogoneka kuti zvigadzirwa kana masevhisi ane mukurumbira zvakanyanya uye ane tarisiro yeramangwana iyo isati yaratidzwa mupurofiti pachayo.

Cash flow/cash flow per share

Izwi rekuti cash flow kana cash flow rinongoturikirwa richinzi cash flow. Munhu anoda kushandisa reshiyo iyi kuona kuti boka racho rakadii. Mari inogona kuitwa mvura uye kushandiswa nekukasira kana kuita zvakachengetwa, zvinhu zvinobatika uye zvivakwa zvekutanga zvinofanirwa kubviswa kwenguva yakareba?

Kusiyana nepurofiti, kuyerera kwemari zviri nani kunoratidza chokwadi. Haikwanise kusanganisira mari dzemanyepo dzakadai sezvipo kana kudzikira. Saka iwe uri kutarisa kune chaiyo yekuwana simba rekambani. Izvi zvinogona kuve zvakanaka uye zvinoshandiswa pakudyara kana kuita kushomeka.

Kukosha kwebhuku/ukoshi hwebhuku pachikamu chimwe nechimwe

Iko kukosha kwebhuku kunosanganisira zvese izvo equity capital inoburitsa. Izvi zvinoreva kuti zvinosanganisira kwete chete purofiti, asi zvese zvinobatika midziyo uye real estate yekambani. Unogona kuona zvinhu zvakakwana kubva pane izvi uye wozvishandisa kufungidzira kuti ndezvipi zvakakosha zviri muboka. Kunyanya panyaya yemakambani ekukura, izvi zvakaoma kuziva mupurofiti.

Iko kukosha kwebhuku kwakaputswa kune mugove ndeye advantageous, kwete zvishoma zvekuongororwa kwemisika yeboom. Mutengo wekugova wakanyanya kukwirisa kunyangwe purofiti yakaderera ingangoita stock bubble kana kukura kwemasheya? Munguva yedotcom bubble, yaiwanzojeka kubva kune yakaderera book values ​​uye nhete yekudyara uko mamwe makambani aienda.

Zvisinei, vazhinji vanoisa mari panguva iyoyo vakakwezvwa nekukwira kwemitengo mumusika zvekuti vakatadza kuona mari chaiyo ndokuwira mumusungo weequity bubble. Kukosheswa kwakazara neakakosha manhamba uye data saka ndiko kuve-zvese uye kupera-zvese kwekuongorora kwakakwana.

Ko kukosha kwebhizinesi kunofanirwa kuongororwa sei?

Mune zvehupfumi, munhu anofarira kushanda neiyo bhizinesi kukosha kuti anyatso ongorora hutano uye ramangwana mikana yemakambani. Musiyano wakakosha unoitwa pakati pebhizinesi kukosha / kukosha kwakasimba kunosanganisira ese masosi emari uye yakagadziridzwa kukosha kweiyo chiyero kusasanganisa chikwereti chemari.

Izvo zvakakosheswa nekambani kumusika pahwaro hwechiyero chemukati chinotorwa kubva kumidziyo inodiwa pakushanda uye midziyo isingadikanwi pakushanda. Zvinhu izvi pamwe chete zvinounza kukosha kwekambani kana yenhengo.

Kazhinji, kukosha kwebhizinesi kunoverengerwa nekuwedzera equity uye chikwereti chemari, kubva ipapo izvo zvisiri zvekushandisa zvinobviswa. Iyi yakakosha nhamba inozopedzisira yashandiswa kuenzanisa maitiro ekushanda uye mhedzisiro pamisika yemasheya kuitira kuti uone zvinokwanisika pasi- uye overvaluation.

Kuenzanisa nekukosheswa kwemusika wemasheya: P / E ratio, P / B reshiyo

Chekutanga pane zvese, iwo emukati maitiro emakambani anokupa iwe ruzivo rwakakosha nezve mari pachayo. Mukutengeserana kwekugoverana, zvisinei, iwe unoda zvakare kuona kana ruzivo urwu ruchienderana nekukosheswa kwekugovana pane stock exchange. Kazhinji, nekuda kwezvikonzero zvakasiyana, pane mutsauko wakajeka pakati pemitengo. Misiyano yakadai inopa vanoisa mari vakangwara mikana yakanakisa yekupinda mune akasiyana maitiro - kunyangwe vasati vazivikanwa nevamwe vagovani.

Mutengo-kuwana chiyero

Kune vagoveri vezvikoshi uye vanoongorora zvakakosha, chiyero chemutengo-mubairo (P/E ratio) ndicho chikamu chakakosha zvikuru. Nekuburikidza nereshiyo iyi, muchidimbu, unoenzanisa kukosha kwemukati muchimiro chepurofiti yegore negore nekukosheswa kwemugove pamusika. Kuti uite izvi, iwe unofanirwa kutanga watsemura purofiti yekambani kune mugove nekuigovanisa nehuwandu hwemasheya asara.

Zvadaro, patsanura mutengo wemugove wazvino nemari inowanikwa pachikamu chimwe nechimwe. Saka iyo formula yekuverenga ndeye:

P/E = mutengo wemugove / mihoro pachikamu.

Iwe zvino unofanirwa kududzira chiyero chinobuda nemazvo. Kazhinji, unogona kutaura kuti diki P/E reshiyo yakatenderedza 15 mapoinzi uye pazasi inoratidza kusakosha. Zvakadaro, mune mamwe masekete mari inotambirwa inogona kunge yakakwira nekuti purofiti pachayo inogona kunge isati yasimba zvakanyanya muchikamu ichi.

Saizvozvo, iwe unofanirwa kugara uchitarisa iyo P / E reshiyo mumamiriro ezvinhu nemamwe makambani. Pakazara, unogona kushandisa chiyero cheP/E kuona, pakati pezvimwe zvinhu, kukosha kwemasheya, kureva masheya ayo kukosha kwemusika wemasheya kuri pasi pezvavanogona uye simba rekuwana. Mukuwedzera, iwe unogona kuziva pakutanga kana paine kuwedzeredza kwepamusoro neiyo ngozi ye stock bubble. Muchiitiko ichi, iwe unofanirwa kurega kuisa mari mustock corporation.

Mutengo-ku-bhuku reshiyo

Kana iri purofiti, iwe unotanga watarisa chete mari yeruzhinji kambani yakamisikidzwa yakatarisana nemari. Izvi hazviratidzi kuti imarii yakapinda muinventory uye real estate, semuenzaniso. Nekuda kwekudyara, ruzivo kubva kuP/E reshiyo inogona kukunyengera iwe uye kukosha kwemari kwekambani kuri nani pane zvingafungidzirwa nemunhu pekutanga.

Naizvozvo, vatengesi vakangwara vanogara vachibvunza nezve mutengo-kune-bhuku reshiyo (P/B chiyero) kana uchikoshesa migove. Vanotarisa kukosha kwebhuku uye vanogovanisa mutengo nereshiyo iyi. Nenzira iyi unofananidzira mutengo wezvino wezvibatiso pamusika kune iyo yakazara equity.

P/B = Govera mutengo / kukosha kwebhuku

Kuenzana kana kukosha kwebhuku kunowanzokwira kupfuura purofiti. Izvi zvinosanganisira, pakati pezvimwe zvinhu, zvese zvinobatika midziyo uye real estate. Naizvozvo, chiyero cheP/B che mambure zvakare chakaderera pane cheyero yeP/E. Izvi zvinoita kuti kukoshesa uye kuongorora kuve nyore kune imwe nhanho. Iwe unongotarisa kuti chiyero chiri pamusoro kana pasi pe1.

Kana mutengo-ku-bhuku reshiyo (P/B) iri pazasi pe1, izvi zvinoratidza kusakosheswa. Kana iri pamusoro, iwe unogona kufunga nezve overvaluation. Chiyero cheP/B chinonyanya kushanda kumakambani ari mumusika weboom ane kukosha kwawo kusingafukidzwe nepurofiti iripo. Makambani mazhinji ari muzvikamu izvi saka haana kana chero eventure uye real estate, asi ingori bhizimusi zano. Iko kukosha kwebhuku kunoda kuderera uye chiyero cheP / B chakakwira zvakanyanya.

Kana mamwe manhamba akakosha akadai seyeyero yeP/E neKCV achiratidza mhedzisiro yakafanana, vanoisa mari vanofanirwa kurega kutenga uye pamwe kubuda trade nenguva yakanaka.

Mutengo-turnover ratio

Ukoshi husingawanzo shandiswa, hunogona, zvisinei, kupa rubatsiro mumaonero akazara kana uchifunga nezvekutenga kana kupokana, ndiyo chiyero chemutengo-kutendeuka. Muchiitiko ichi, iwe unozvidza mari yekambani. Unotarisa mari chete, kureva kutendeuka kwegore rapfuura.

Izvi zvinokuratidza kuti zvigadzirwa kana masevhisi ekambani ari kutengeswa sei. Ichi chinogona kuva chiratidzo chakanakisa chekukura kunobvira. Zvichida kambani iri muchikamu chekutanga, yakagadzira chipo chakakurumbira, asi panguva imwechete inoda kuisa mari kuitira kuti ienderere mberi. Mari iyi inongodzikisira purofiti uye mutengo wekugovana ungaratidzika kunge wakakosheswa zvisina tsarukano.

The turnover uye mutengo / turnover ratio (P/S reshiyo) nokudaro inounza kumwe kujekeswa uye inogadzira nzwisiso iri nani mukusimukira chaiko kwekambani. Iwe unogona zvakare kutarisa iwo manhamba kubva kumakore apfuura kuti uone kana shanduko iri kukura, kuti yakakurumbira sei mugove kune vanoisa mari uye ndezvipi zvekudyara kwavepo nguva pfupi yadarika.

Zvakafanana nehukoshi hwebhuku, mubairo wakakwira zvakanyanya pane purofiti. Saka, reshiyo dzechikamu dzakadzikira zvakaenzanirana pane yereshiyo yeP/E uye inogona kududzirwa zvakajeka. Kazhinji, munhu anogona kutaura kuti P / E reshiyo pazasi 1 inoratidza yakachipa mugove. Panofanira kunge paine zvakawanda zvinogoneka pano. Kukosha kwekutenderera 1 kusvika 1.5 iri muclassical zvinoreva, nepo chero chinhu chiri pamusoro icho chinotorwa sechidhura.

Kushaya simba kweKUV ichokwadi kuti inofuratira zvachose mihoro. Izvi zvinogona kunge zvisiri dambudziko mumakore ekutanga, ekudyara-akapfuma ekambani. Mukufamba kwenguva, zvakadaro, kambani yeruzhinji inofanirwa kuratidza kuita purofiti. Chiratidzo chakanaka chekuti chokwadi chiripo kukura chinopihwa nekuongororwa kwegore negore kwenhamba dzemhindu.

Mutengo-kuyerera kwemari

Kuyerera kwemari kunogona kurondedzerwa sesimba rekuwana remakambani. Izwi reChiRungu rinogona kuturikirwa richinzi cash flow, izvo zvinoburitsa pachena kuti reshiyo iyi inozoguma nei. Izvo zvakanyanya kana zvishoma pamusoro pekupinda uye kubuda kwemari yemvura - kureva huwandu hwemari inogona kushandiswa zvakananga.

Zvikumbiro zvemanyepo, kudzikira uye zvinhu zvinobatika hazvina kubatanidzwa. Nenzira iyi, pamusoro pezvose, purofiti inogadziridzwa kune huwandu husina kukosha chaiko mubhizinesi remazuva ese.

Kuti uone kubuda kwemari, munhu anotanga kutora mari yese yeimwe nguva (kazhinji gore rebhizinesi). Mazhinji emhando idzi mari dzekutengesa, mari yekudyara senge mubereko, rubatsiro uye disinvestments. Kubva pane izvi unobva wabvisa mari dzakachena dzinodiwa kufambisa bhizinesi - semuenzaniso mutengo wezvinhu, mihoro, mari yemubereko uye mutero.

Pamberi pemitero, unosvika pamari yakawandisa. Kubvisa mutero uye mari yakavanzika pamwe nekugadzirisa nematura, iwe unowana yakagadziridzwa mambure manhamba. Pamusoro pezvo, mainvestimenti anogona kuderedzwa uye disinvestments inowedzerwa kuti isvike pakuyerera kwemahara kwemari.

Kuti usvike pamutengo / mari inoyerera, mari inoyerera inoparadzaniswa nenhamba yezvikamu mukutenderera. Mari iyi inongoshandiswa kupatsanura mutengo wazvino wekambani. Saka maverengero akaita seizvi:

Iyo KCV inoshandiswa pamusoro pezvese nekuti kune kwakawanda uye kwakawanda kusununguka mukuona purofiti, semuenzaniso kuburikidza nehuwandu hwekunyepedzera. Iyo KCV inopa mufananidzo uri nani weiyo chaiyo midziyo irikutenderera. Uyezve, inogona kazhinji kushandiswa kunyangwe purofiti pachayo isina kunaka.

Sezvo nechiyero cheP / E, iyo yakaderera mutengo kune kuyerera kwemari, iyo inodhura iyo stock. Zvakanakisa kushandisa mutengo kuyerera kwemari sekuwedzera kune mutengo-mubairo reshiyo uye nekudaro tarisa pazvibatiso zvakazara. The advantages uye kusadavantages yeKCV ichienzaniswa nereshiyo yeP/E ndeiyi:

Advantages Mutengo-kune-mari kuyerera VS. P/E ratio

• Inogonawo kushandiswa munyaya yekurasikirwa
• Balance sheet manipulation ishoma yedambudziko pane neiyo P/E reshiyo.
• Panyaya yeakasiyana nzira dze accounting, iyo KCV inopa zvirinani kuenzaniswa.

Disadvantages Mutengo-kune-mari kuyerera VS. P/E ratio

• KCV kana mari inoyerera inochinja kupfuura P/E reshiyo nekuda kwekutenderera kwekudyara
• Nekuda kwekudyara / kudzikira, iyo KCV yakakanganiswa kumakambani ari kukura zvakanyanya uye ari kuderera.
• Pane nzira dzakasiyana dzekuverenga kuyerera kwemari (yakazara, mambure, yemahara mari inoyerera)
• Mafambiro emari emangwana anenge asingakwanisi kufanotaura

Ndoita sei nereshiyo?

Nyanzvi dzinoshandisa zviyero zvataurwa pamusoro apa kunyanya kuona kuwandisa uye kusakosha kwezvikamu. Izvi zvinowanzoitwa nechiyero cheP/E. Zvisinei, sezvo mihoro inogona kushandiswa nyore nyore nehutungamiri hwekambani uye, kune rumwe rutivi, kumwe kudyara hakubatanidzwi mukuverenga sebudiriro yakanaka, vatengesi vakawanda vane ruzivo vanoshandisa zvimwe zviyero. Izvi zvinokupa mufananidzo wakadzama webudiriro chaiyo yekambani.

Nechiyero cheP/E uye KCV, semuenzaniso, unogona kutanga wasvika pane zvakati wandei. Iwe unofanirwa kududzira izvi mumamiriro eiyo indasitiri. Zvikamu zvekukura senge e-commerce, e-mobility, hydrogen nezvimwe zvakadaro kazhinji zvichine mari yakawandisa. Nekuda kweizvozvo, muyero wemutengo-mubairo kunyanya wakakwira zvakanyanya. Pakutanga kuona, munhu angafunga kuwedzeredza.

Zvose chiyero cheP/E neKCV chinoratidza kuwedzeredza pamitengo yakakwira zvakajeka pamusoro pe30. Tesla's P/E ratio yave iri pamusoro pe100 points kwemakore mazhinji. Zvisinei, kukosha uku kunoiswa mumaonero kana ichienzaniswa nemutengo / mari inoyerera - iyo KCV inosvika pedyo nehafu yechiyero cheTesla P / E.

Zvisinei, kana isu zvino tichiwedzera PEG ratio, kureva mutengo-mubairo-kukura chiyero, tinowana mhedzisiro isingakosheswi yeTesla. Chikonzero cheizvi ndechekuti kukura kweramangwana kunotariswa pahwaro hwekufanotaura. Ndichadzoka panyaya iyi gare gare.

Pakukosheswa kwazvino pasina fungidziro yeramangwana, humwe huwandu hwakawanda hunouya mukupokana. Kunyanya, iwe unobatsirwa kubva kune kukosha kwebhuku uye kutengesa kuti uongorore zvirinani mitengo yekugovana maererano nekukosha kwemukati.

Mukati megadziriro yekuongorora kwakakosha, iyo KBV neiyo KUV inoratidza, pahwaro hwenhamba dziri pamusoro kana pazasi 1, ingave mugove wacho wakakosheswa kana kusakosheswa maererano nekuenzana nemari. Izvi zvinotora basa rinokosha kunyanya kumakambani maduku - pano mari inoshandiswa inowanzokwira uye nokudaro kukanganisa chirevo pamusoro pezvinogona kuitika mupurofiti uye kubuda kwemari.

Advantageous yeKukosha uye Kukura Investment

Chekutanga uye chakakosha, munhu anoshandisa mareshiyo kuti aongorore migove yemitengo yakakwira zvakanyanya kana yakaderera. Kutarisira izvi: Mamiriro ese ari maviri anopa mukana wekudyara zvine pundutso. Sezvo mutemo, zvisinei, vatengesi vachamhanyira kukoshesa mashizha, ayo anoratidzirwa nekusakosha kwakasimba. Neimwe nzira, kukura kwemasheya ane yakanyanya kukoshesa kukosha kwemusika kunogona kunge kuri kuvimbisa vakwikwidzi vekudyara kwenguva refu.

Chii chinonzi Value Investment?

Kukosha kwekudyara ndeimwe yeanonyanya kufarirwa nzira pakati pevatengesi vanovimba nekuongorora kwakakosha kuburikidza nenhamba dzakakosha. Yakave yakakurumbira kupfuura zvese nebhuku raBenjamin Graham "The Intelligent Investor" uye muteveri wake Warren Buffett, akaita hupfumi kuburikidza nekambani yake yekudyara Berkshire Hathaway.
Nheyo yekutanga yekudyara kukosha ndeyekutsvaga yakaderera kwazvo stock kukosha kwekambani ine mukana wepamusoro. Saka pane izvi unotarisa pachiyero cheP/E neKCV. Izvi zvinopa mazano ekutanga ekuti kungave kusakosha here.

Iye zvino zvinofanirwa kujekeswa kuti izvi hazvisi nekuda kwekushaikwa kwekudyara. Saka zvakakosha kubvunza mamwe mareshiyo, chiyero cheP/B nereshiyo yeP/E. Asi kana iyo kambani iine mukana wakawanda, nei izvi zvisingaratidzirwe mumhando yemitengo yekugovana?

Uyu ndiwo mubvunzo uyo vanoisa mari muchikamu chekukosha vanofanira kutanga vapindura. Zvikonzero zvinogoneka zvekusakoshesa zvinogona kuva:

• Nhau dzisina kunaka nezvekambani
• Zvenguva pfupi zvinonyadzisa uye nhau dzisina kunaka dzinoenda navo
• Matambudziko epasi rose (inflation, hondo, denda) uye kutya kunokonzeresa pakati pevanoisa mari
• Vanoisa mari havasati vawana mukana wekudyara ivo pachavo kana vachiri kuzeza
• Zvichipa zvikonzero zvataurwa pamusoro apa, kukosha kwekudyara kunofanirwa kuve kwakakosha mune chero mamiriro ezvinhu. Kunyangwe mitengo yemakambani ane pundutso akaita seAmazon, Apple & Co inogona kuparara mudambudziko panguva ino. Asi kana nhamba dzakakosha dzichiratidza a
• yakagadzikana bhizinesi modhi, iyo kukosha kwayo pamwe haina kururamiswa. Panguva ino iwe unofanirwa kuisa mari yako pane yakagoverwa share.

Mamiriro acho ezvinhu akasiyana panyaya yezvinoitika zvisingadiwi zvakangobva kuoneka. Zvinogoneka kuti kambani inokwikwidza ichangobva kuburitsa chigadzirwa cheshanduko icho mutungamiri wemusika wekare haazokwanisa kufambirana nacho munguva refu. Vanoisa mari vanoisa mutengo webudiriro iyi mukuyerwa kwavo kwekugovana mune ramangwana.

Saka kunyangwe purofiti yegore rapfuura yaive yakakwira uye chiyero cheP/E chinoratidza kusakosheswa nekuda kwekudonha kwemitengo, izvi zvinogona kunge zvakaruramiswa zvachose. Mutengo saka unogona kuwira kure mukati mepennystock range, ndosaka investimendi apa ingave isiri nzvimbo. Muenzaniso wekusimudzira kwakadaro inyaya yeNokia neApple.

Chii chinonzi Growth Investment?

Kukura mari inzira yakasiyana zvachose. Vagadziri vemari vanofungidzira kuti kambani neindasitiri yese vachiri vadiki. Naizvozvo, mari yacho yakakwira uye purofiti yakaderera. Kusvika pari zvino, zvigadzirwa zvinogona kunge zvisati zvabudirira kuzvisimbisa pamusika. Nekudaro, iyo pfungwa yatove yakanaka uye inovimbisa zvekuti vazhinji vanogovanisa vanoda kuisa mari inofungidzirwa kuti yakakura mukambani.

Ingave yakaruramiswa kana kwete - mutengo wekugovana pakutanga unokwira. Kukura vatengesi vanoda kutora advantage yekukura uku uye zvichida purofiti kubva kwairi munguva refu. Panguva yedotcom bubble, munhu aifanira kubheja pamakambani akaita seAmazon, Google neApple kuti akwanise kutora ad.vantage yeyakanyanya kukoshesa mugove mushure memakore angangoita makumi maviri. Zvikashandiswa nokuchenjera, matura akadaro anogona naizvozvo kuva hwaro hwakanaka hwokuunganidza pfuma mukukwegura.

Kune rimwe divi, masheya akawandisa (P/E uye KCV anopfuura makumi matatu uye anopfuura; KBV neKUV pamusoro pe30) ane tsika yekuwedzera kuita mabhubhu. Pano, mari inoiswa mukambani nevashambadziri haina kuvharwa nekugona chaiko. Saka musika unoramba uchikwira kusvika vanhu vaona kuti haugone kuenderera seizvi.

Kana vatengesi vangoona kuti kambani haizokwanisa kuzadzisa zvinotarisirwa nemusika wemasheya, musika unodonha uye mitengo yekugovana inodonha.

Kunyangwe mumamiriro ezvinhu aya, hongu, zvinokwanisika kuita purofiti yakangwara. Kune rumwe rutivi, kudzoka kunogona kutorwa kumusoro. Asi kana iwe waisa mari nekukurumidza, zviri nani kubuda nekukurumidza pane kunonoka - maererano nemotto: mari kana pfuti dzichirira, tengesa kana violin iri kutamba.

Short kutengesa zvakare inonakidza sarudzo. Muchiitiko ichi, iwe unokwereta mugove pamutengo wakakwirira uye woitengesa pakarepo. Gare gare unoitenga zvakare nemutengo wakaderera uye unopa kune anoenderana mupi pamwe chete nemari yechikwereti. Saka waita purofiti nemusiyano nekuda kwekudonha kwemitengo.

Kutengesa kupfupi, nenzira, kuri nyore kuburikidza ne CFD trade yako broker. Iwe unongoenda kune inoenderana webhusaiti, nyoresa nezita rako uye e-mail kero uye unogona trade zvinopesana kuburikidza nemakontrakiti chaiwo. Unogona tsvaga kurudyi broker nyore nesu kuenzanisa chishandiso.

Matambudziko nekuongorora mugove uchishandisa mutengo reshiyo

Dambudziko guru rekududzira reshiyo yemitengo maererano nemari inowanikwa, kukosha kwebhuku, kutengesa uye kubuda kwemari nderekuti vanongokupa tarisiro yenguva yakapfuura. Nekudaro, kukosha kwekugovana pamusika wemasheya nguva dzose kunoenderana nezviri kuitika uye zvinotarisirwa mune ramangwana. Izvi zvinogadzira misiyano inogona kupembedzwa kana kusaruramiswa.

Nyanzvi dzechokwadi munguva pfupi yapfuura dzakaona kuti kutarisa munguva yakapfuura hakuna kukwana kune mamwe maindasitiri. Naizvozvo munhu anofanirwawo kutarisa zvakafanotaurwa nezveramangwana, pakati pezvimwe zvinhu, uye zvinosanganisira izvi muongororo.

Zvinogoneka mhinduro: Kukura, kufanotaura, kuderedzwa kuyerera kwemari uye giya

Kuti uderedze matambudziko ekutarisisa-kumashure kuongorora kwakakosha, chinhu chimwe chete chinobatsira: iwe unofanirwa kutarisa mune ramangwana. Kune zvechokwadi mamwe maturusi ari mu investor's toolbox anogona kushandiswa kune ichi chinangwa. Kunyanya, kufanotaura uye kuenzanisa kwekukura kunogona kubatsira kukupa mufananidzo wakajeka wemusika.

Mutengo-mubairo-kukura chiyero

Chishandiso chinoshanda kwazvo mune iyi chiyero chePEG (mutengo/mubairo kune reshiyo yekukura). Inoverengerwa nekupatsanura KVG nekukura kunotarisirwa kubva muzana. Saka formula ndeiyi:

PEG Ratio = P/E reshiyo / inotarisirwa muzana yemari yekukura.

Nekuda kweizvozvo unogara uchiwana kukosha pamusoro kana pazasi 1. Pamusoro pe1 unokwanisa kufungidzira kuwedzeredza, pazasi 1 kusakosha. Semuenzaniso, mugove unogona kuva nechikamu cheP/E chegumi nemashanu uye fungidziro yezvikamu makumi matatu kubva muzana. Iyo PEG yaizobva yave 15, saka munhu anogona kutarisira kuti mutengo wekugovana uchapeta kaviri mugore rinotevera.

Zvisinei, dambudziko nePEG nderekuti zvifanotaura hazvizozadziswi 1 kusvika 1. Nyanzvi dzinongozvitora kubva pakuvandudzwa kwemakore apfuura uye mamiriro ehupfumi mune chimwe chikamu. Kana paine kudzikira kwakamwe kamwe kana dambudziko, maitiro anogona kungoerekana ashanduka kuita zvakapesana. Uyezve, mwero wemhindu yemusika haucherechedzwe, izvo zvinokanganisawo kuvandudzwa kwemasheya.

Forward P/E ratio

Vazhinji vanoisa mari vanoramba vachishandisa iyo yekumberi P / E reshiyo sechikamu chekuongorora kwavo. Iyo inowanzonziwo Forward PE Ratio. Kusiyana neyakajairwa PE chiyero, haina kubva pane purofiti yegore kubva yakapfuura, asi pane tarisiro yepurofiti. Kunyanya mukuenzanisa nemwedzi yapfuura, zviri nyore kuwana mhedziso pamusoro pekuwedzeredza kana kusakoshesa.

Forward PE ratio = yazvino mutengo wemugove / fungidziro mihoro pachikamu

Zvakanakisa kutarisa kumberi PE reshiyo pamwe nemhedzisiro kubva mumakore mashoma apfuura. Kana iri pamusoro pazvo, tarisiro yemuhoro iri kudonha. Sezviyero zveP/E, zvinotarisirwa nekambani kubva kumusika wemasheya zvinosiyana zvichienderana neindasitiri. Overvaluation uye undervaluation saka zvinogara zvichitemerwa mumamiriro emusika.

Nekudaro, iwe unofanirwa kugara uchiziva kuti iyo yekufungidzira purofiti ndeye theoretical kukosha. Kunyangwe kana vaongorori vazhinji vachifunga kukura, izvi hazvifanirwe kuitika pakupedzisira. Zvakare, iwo masangano ekukoshesa anotungamirwa neaya epamutemo mashizha, ayo, zvisinei, anogona kushandiswa nekambani manejimendi.

Imwe disadvantage yekumberi PE ndiyo ipfupi yekufungidzira nguva. Yakadaro PE reshiyo inogona chete kuve yakakosha kana uchitarisa makore akati wandei mune ramangwana. Nekudaro, avo vane rombo rakanaka uye zvakare vanotarisa zvakadzama mune mamwe mareshiyo vanowanzo batsirwa nekudyara zvishoma munguva pfupi.

Kuderedzwa kwemari kuyerera

Kuyerera kwemari yakaderedzwa (DCF) inogona kuturikirwa sekuyerera kwemari yakaderedzwa. Pano, kukosha kwebhizinesi kunotemwa nenzira yekuverenga kwakaoma uye kuongorora. Kusiyana nechiyero che PE chemberi, iyi modhi inoshandisa kuyerera kwemari sehwaro, asiwo kufanotaura kubva mune ramangwana. Saka, fungidziro dzedzidziso chete dzinoshandiswa.

Aya ndiwo, mushure mezvose, akavakirwa pamapepa emari kana purofiti nekurasikirwa maakaundi emakore mashoma apfuura. Zvisinei, kuyerera kwemari hakusi kungowedzerwa chete, asi kunoderedzwa maererano negore ravakasimuka. Izvi zvinoreva chimwe chinhu kunze kwekuti kufarira uye inflation zvinowedzerwa.

Zvinhu izvi zvinoita kuti mari irasikirwe nekufamba kwenguva. Naizvozvo, semuridzi wemari, haufanirwe kungosiya midziyo muakaundi yebhangi pasina chikonzero, asi kuti uzviise mune zvimwe zvikamu zvekudzivirira inflation.

Chikwereti kune equity ratio yekambani

Zvinogonawo kuva zvinonakidza kutarisa chikwereti kune equity ratio (D / E ratio). Pano iwe, semuridzi wemari, tarisa zvikwereti kana mari yakakweretwa maererano neiyo equity.

Ngatitorei chinhu chimwe chete: Chikwereti hachisi chinhu chakaipa kumakambani. Kusiyana neizvi, chikwereti chemari chinopa kukurudzira kukuru kwekuvandudza nekudyara. Uyezve, nekuda kwemitengo yakaderera yemubereko yakavepo kwemakore, munhu anofarira akawanda advantages pamusoro pekushandisa equity capital.

Zvakadaro, pane chokwadi kune imwe njodzi pakukwereta mari. Inogona kudzoserwa munguva pfupi. Panyaya iyi, munhu anofanirwa kugara aine mari inoenderana iripo.

Kana iwe uchida kuverenga chiyero cheD / E, unotora zvikwereti zvenguva pfupi uye zvenguva refu pamwe chete, zvigovane nekuenzanisa uye uverenge chikamu nekuwedzera ne100:

D/E chiyero = zvazvino uye zvisiri-zvazvino zvikwereti / equity * 100.

Ukoshi uhwu hunokuudza kuti ndeipi chikamu cheequity chakaiswa muchikwereti. Kana nhamba yacho iri 10 muzana, iyi inenge iri mwero wechikwereti.

Kazhinji, zvinogona kutaurwa kuti chikwereti chinotakura pamusoro pe100 muzana chinogara chichibatanidzwa nehuwandu hwengozi - makambani ane humwe hutano, kune rumwe rutivi, anomhanya nzira yakachengeteka.

Kune vatengesi, zvisinei, chiyero chepamusoro chechikwereti chinogona kuonekwa semutyairi wekudzoka munguva pfupi. Vagovani vanoziva kuti vazhinji vanokweretesa vanoda kukweretesa midziyo yavo kuboka iri. Izvi zvinotungamira kune imwe mari yakawanda uye pamwe nekukura purofiti. Kune rumwe rutivi, kana pane chikamu chepamusoro chekuenzana, kuvandudzwa kwemutengo wemugove kunoderedzwa, asi kune rumwe rutivi chikamu chegove chinowanzogadzikana.

Chechipiri tsime remari: dividends uye dividend goho

Kunze kwegoho, dividend ishanduko inoenderana nemasheya. Nekubhadhara uku, iwe unopa makambani chikamu mune yako purofiti. MuUSA, madividendi anowanzo kubhadharwa kota yoga yoga, nepo kuGermany uchiwana mubhadharo uyu kamwe chete pagore.

Chikonzero cheizvi ndechekuita kuti chikamu chiwedzere kukwezva kune vanoisa mari. Kunyanya panyaya yemachipisi eblue, kureva makambani ane capitalization yemusika wakanyanya uye shoma kukanganisa, kuwedzera kwegoho pagore kune zvishoma. Iyo dividend inobva yapa muripo unoenderana.

Kune kunyange vazhinji vanoisa mari vanongofarira migove ine goho repamusoro. Ivo vanobva vatarisa pamusoro pezvese kugova madzimambo, kureva makambani anobhadhara kuwedzera purofiti migove kwemakumi emakore akawanda pasina kukanganisa.

Kuti uzive nezve mugove unoenderana neakakosha manhamba, tarisa kugovewa kwegoho. Izvi zvinowanzopihwa muchidimbu cheprofile pa brokerakadai seToro, IG.com uye Capital.com.

The dividend goho rinoratidza reshiyo pakati pekupedzisira dividend nemutengo wazvino sechikamu. Saka inoverengerwa uchishandisa iyo inotevera formula:

Dividend yakabhadharwa pachikamu / mutengo wazvino wekugovera * 100.

Chinonyanya kukosha ndechekuti izvi zvinokuudza kuti kudzoka pamugove wega wega wakakwira zvakadii uye zvinokupa fungidziro yekuti mari yacho inogona kuratidza kuti ine pundutso. Kana mutengo weshare wakadzikira uye ukakwidza dividend, ndipo pauchawana goho remugove.

Nhamba yepamusoro inogara iri nani maererano negoho remugove. Sarudzo dzakanaka kwazvo dzekutenga masheya chaiwo, pamusoro pezvose, makambani anowana kukosha kweanosvika gumi neshanu muzana kana kupfuura. Kunyange izvi zviri zvishoma. Mienzaniso yemasheya ane goho repamusoro kubva muna 15 inosanganisira Hapag-Lloyd (2022 muzana), publity (9.3 muzana), Digital Realty PDF G (12.93 muzana) uye Macy's (18.18 muzana).