{"id":30025,"date":"2022-03-20T11:45:29","date_gmt":"2022-03-20T03:45:29","guid":{"rendered":"https:\/\/\/?p=30025"},"modified":"2022-06-30T11:08:42","modified_gmt":"2022-06-30T03:08:42","slug":"what-is-earnings-yield","status":"publish","type":"post","link":"https:\/\/\/what-is-earnings-yield\/","title":{"rendered":"\u76c8\u9918\u6b96\u5229\u7387\u662f\u4ec0\u9ebc\uff1f\u5982\u4f55\u5224\u65b7\u80a1\u50f9\u4fbf\u5b9c\u6216\u6602\u8cb4\uff1f"},"content":{"rendered":"<!-- \/367108978\/Rich01_PC_up_728x90 -->\n\t<div class='div-gpt-ad-css' id='div-gpt-ad-1564472272479-0' style='width: 728px; height: 90px;'>\n\t  <script>\n\t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1564472272479-0'); });\n\t  <\/script>\n\t<\/div><p><img decoding=\"async\" class=\"alignnone wp-image-38063 size-full\" src=/index.html"https:\/\/\/wp-content\/uploads\/20220630110827_88.jpg\" alt=\"\u76c8\u9918\u6b96\u5229\u7387\" width=\"1557\" height=\"815\" srcset=\"https:\/\/\/wp-content\/uploads\/20220630110827_88.jpg 1557w, https:\/\/\/wp-content\/uploads\/20220630110827_88-1536x804.jpg 1536w\" sizes=\"(max-width: 1557px) 100vw, 1557px\" \/><\/p>\n<p>\u6536\u76ca\u7387(Earnings Yield)\u53c8\u7a31\u70ba\u76c8\u9918\u6b96\u5229\u7387\u3001\u5916\u90e8\u80a1\u6771\u5831\u916c\u7387\u3001\u76ca\u672c\u6bd4(<a href=/index.html"https:\/\/\/pe-ratio-basic\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">\u672c\u76ca\u6bd4<\/a>\u7684\u5012\u6578)\uff0c<br \/>\n\u5e38\u7528\u4f86\u5224\u65b7\u80a1\u50f9\u662f\u4fbf\u5b9c\u6216\u6602\u8cb4\u7684\u6307\u6a19\uff0c\u4e5f\u8b93\u6295\u8cc7\u4eba\u80fd\u9810\u671f\u672a\u4f86\u6bcf\u5e74\u53ef\u4ee5\u8cfa\u591a\u5c11\u767e\u5206\u6bd4\u7684\u5831\u916c\u3002<\/p>\n<p>\u9019\u7bc7\u6587\u7ae0\u5e02\u5834\u5148\u751f\u4ecb\u7d39\u6536\u76ca\u7387\u662f\u4ec0\u9ebc\u3001\u5982\u4f55\u8a08\u7b97\u3001\u5982\u4f55\u7528\u4f86\u5224\u65b7\u80a1\u50f9\u4fbf\u5b9c\u6216\u6602\u8cb4\u3002<\/p>\n<p><!--more--><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_64 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">\u672c\u6587\u5e02\u5834\u5148\u751f\u6703\u544a\u8a34\u4f60\uff1a<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-66120cdfd2a62\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-66120cdfd2a62\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=/index.html"https:\/\/\/what-is-earnings-yield\/#%E7%9B%88%E9%A4%98%E6%AE%96%E5%88%A9%E7%8E%87%E6%98%AF%E4%BB%80%E9%BA%BC%E6%84%8F%E6%80%9D%EF%BC%9F\" title=\"\u76c8\u9918\u6b96\u5229\u7387\u662f\u4ec0\u9ebc\u610f\u601d\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u76c8\u9918\u6b96\u5229\u7387\u662f\u4ec0\u9ebc\u610f\u601d\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=/index.html"https:\/\/\/what-is-earnings-yield\/#%E7%9B%88%E9%A4%98%E6%AE%96%E5%88%A9%E7%8E%87%E5%A6%82%E4%BD%95%E8%A8%88%E7%AE%97%EF%BC%9F\" title=\"\u76c8\u9918\u6b96\u5229\u7387\u5982\u4f55\u8a08\u7b97\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u76c8\u9918\u6b96\u5229\u7387\u5982\u4f55\u8a08\u7b97\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=/index.html"https:\/\/\/what-is-earnings-yield\/#%E7%9B%88%E9%A4%98%E6%AE%96%E5%88%A9%E7%8E%87%E8%88%87%E6%9C%AC%E7%9B%8A%E6%AF%94%E6%9C%89%E4%BB%80%E9%BA%BC%E5%B7%AE%E7%95%B0%EF%BC%9F\" title=\"\u76c8\u9918\u6b96\u5229\u7387\u8207\u672c\u76ca\u6bd4\u6709\u4ec0\u9ebc\u5dee\u7570\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u76c8\u9918\u6b96\u5229\u7387\u8207\u672c\u76ca\u6bd4\u6709\u4ec0\u9ebc\u5dee\u7570\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=/index.html"https:\/\/\/what-is-earnings-yield\/#%E7%9B%88%E9%A4%98%E6%AE%96%E5%88%A9%E7%8E%87%E5%8E%BB%E5%93%AA%E8%A3%A1%E6%9F%A5%EF%BC%9F\" title=\"\u76c8\u9918\u6b96\u5229\u7387\u53bb\u54ea\u88e1\u67e5\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u76c8\u9918\u6b96\u5229\u7387\u53bb\u54ea\u88e1\u67e5\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=/index.html"https:\/\/\/what-is-earnings-yield\/#%E5%BF%AB%E9%80%9F%E9%87%8D%E9%BB%9E%E6%95%B4%E7%90%86%EF%BC%9A%E7%9B%88%E9%A4%98%E6%AE%96%E5%88%A9%E7%8E%87%E6%98%AF%E4%BB%80%E9%BA%BC%EF%BC%9F\" title=\"\u5feb\u901f\u91cd\u9ede\u6574\u7406\uff1a\u76c8\u9918\u6b96\u5229\u7387\u662f\u4ec0\u9ebc\uff1f\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u5feb\u901f\u91cd\u9ede\u6574\u7406\uff1a\u76c8\u9918\u6b96\u5229\u7387\u662f\u4ec0\u9ebc\uff1f<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%E7%9B%88%E9%A4%98%E6%AE%96%E5%88%A9%E7%8E%87%E6%98%AF%E4%BB%80%E9%BA%BC%E6%84%8F%E6%80%9D%EF%BC%9F\"><\/span>\u76c8\u9918\u6b96\u5229\u7387\u662f\u4ec0\u9ebc\u610f\u601d\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>\u76c8\u9918\u6b96\u5229\u7387<\/strong>(\u82f1\u6587\uff1aEarnings yield)\u7684\u4e2d\u6587\u89e3\u91cb\u6709\u5f88\u591a\uff0c\u53ef\u4ee5\u7a31\u70ba \u6536\u76ca\u7387\u3001\u76c8\u9918\u6536\u76ca\u7387\u3001\u5916\u90e8\u80a1\u6771\u5831\u916c\u7387\u3001\u76ca\u672c\u6bd4<\/p>\n<p>\u76c8\u9918\u6b96\u5229\u7387\u986f\u793a\u4e00\u9593\u516c\u53f8\u6bcf\u80a1\u76c8\u9918\u8207\u80a1\u50f9\u7684\u6bd4\u503c\uff0c\u610f\u601d\u662f\u5047\u5b9a\u672a\u4f86\u6bcf\u5e74\u5275\u9020\u7684\u76c8\u9918\u8207\u904e\u53bb\u76f8\u540c\u4e4b\u4e0b\uff0c\u6839\u64da\u73fe\u5728\u80a1\u50f9\u8cb7\u5165\u7684\u5831\u916c\u7387\uff0c<br \/>\n\u53ef\u4ee5\u7528\u4f86\u5224\u65b7\u80a1\u50f9\u76f8\u5c0d\u65bc\u516c\u53f8\u7372\u5229\u662f\u4fbf\u5b9c\u6216\u6602\u8cb4\u7684\u6307\u6a19\u3002<\/p>\n<p>\u76c8\u9918\u6b96\u5229\u7387\u9019\u662f\u4e00\u7a2e\u4f30\u503c\u65b9\u6cd5\uff0c\u4e00\u822c\u6703\u4f7f\u7528\u9019\u500b\u6578\u64da\u5224\u65b7\u54ea\u4e9b\u8cc7\u7522\u7684\u5b9a\u50f9\u904e\u9ad8\u6216\u904e\u4f4e\uff0c<br \/>\n\u5728\u50f9\u503c\u6295\u8cc7\u7684\u5206\u6790\u4e0a\uff0c\u900f\u904e\u76c8\u9918\u6b96\u5229\u7387\u8cb7\u5165\u80a1\u50f9\u8f03\u4fbf\u5b9c\u7684\u597d\u516c\u53f8\uff0c\u5224\u65b7\u80a1\u7968\u662f\u5426\u6709<a href=/index.html"https:\/\/\/margin-of-safety-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">\u5b89\u5168\u908a\u969b<\/a>\u53ef\u4ee5\u8cb7\u9032\u3002<\/p>\n<p>\u76c8\u9918\u6b96\u5229\u7387\u529f\u80fd\u5176\u5be6\u548c\u672c\u76ca\u6bd4\u5b8c\u5168\u4e00\u6a23\uff0c\u53ea\u662f\u8a08\u7b97\u7684\u5206\u5b50\u5206\u6bcd\u985b\u5012\u904e\u4f86\uff0c<br \/>\n\u76c8\u9918\u6b96\u5229\u7387\u5448\u73fe\u7684\u5831\u916c\u7387\u6578\u5b57\u4e5f\u6bd4\u672c\u76ca\u6bd4\u7684\u500d\u6578\u66f4\u52a0\u76f4\u89c0\u3001\u66f4\u6709\u53ef\u6bd4\u6027\uff0c<br \/>\n\u7528\u6cd5\u548c\u6ce8\u610f\u4e8b\u9805\u4e5f\u548c\u672c\u76ca\u6bd4\u5dee\u4e0d\u591a\uff0c\u56e0\u6b64\u60f3\u4e86\u89e3\u76c8\u9918\u6b96\u5229\u7387\uff0c\u53ef\u4ee5\u5148\u770b\u61c2<a href=/index.html"https:\/\/\/pe-ratio-basic\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u672c\u76ca\u6bd4<\/a>\u3002<\/p>\n<p>\u4ee5\u524d\u5e02\u5834\u5148\u751f\u6709\u4e00\u7bc7\u6587\u7ae0\u8a73\u7d30\u4ecb\u7d39\u672c\u76ca\u6bd4\uff0c<br \/>\n\u5982\u679c\u9084\u4e0d\u719f\u6089\uff0c\u53ef\u5148\u95b1\u8b80\uff1a<a href=/index.html"https:\/\/\/pe-ratio-basic\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u672c\u76ca\u6bd4\u662f\u4ec0\u9ebc<\/a><\/p>\n<blockquote><p>\u5e02\u5834\u5148\u751f\u63d0\u793a\uff1a\u95dc\u65bcEarnings yield<\/p>\n<p>\u4e00\u822c\u6211\u5011\u8ac7\u5230\u6b96\u5229\u7387\uff0c\u4e2d\u6587\u6307\u7684\u662f\u80a1\u5229\u6b96\u5229\u7387\uff0c\u6307\u7684\u662f\u80a1\u5229\u7684\u5831\u916c\u7387\uff0c<br \/>\n\u76c8\u9918\u6b96\u5229\u7387\u96d6\u7136\u540d\u7a31\u4e5f\u6709\u6b96\u5229\u7387\u4e09\u500b\u5b57\uff0c\u4f46\u6307\u7684\u662f\u516c\u53f8\u7684\u76c8\u9918\u53bb\u9664\u4ee5\u80a1\u50f9\u7684\u5831\u916c\u7387\uff0c<\/p>\n<p>\u7531\u65bc\u76c8\u9918\u6b96\u5229\u7387\u9019\u500b\u6307\u6a19\u5728\u4e2d\u6587\u5e02\u5834\u6bd4\u8f03\u5c11\u4eba\u4f7f\u7528\u3001\u5404\u5927\u7db2\u7ad9\u4e5f\u5f88\u5c11\u63d0\u4f9b\u6b64\u6578\u64da\uff0c\u4e2d\u6587\u7a31\u547c\u4e0a\u4e5f\u5f88\u6df7\u6dc6\uff08\u7121\u8ad6\u662f \u76ca\u672c\u6bd4\u3001\u76c8\u9918\u6b96\u5229\u7387\u3001\u6536\u76ca\u7387\uff0c\u90fd\u6709\u5176\u4ed6\u8fd1\u4f3c\u5bb9\u6613\u6df7\u6dc6\u7684\u4e2d\u6587\u540d\u8a5e\uff09\uff0c<br \/>\n\u53ef\u4ee5\u8a18\u5f97\u5b83\u7684\u82f1\u6587\u662f Earnings yield \uff0c\u4ee5\u53ca\u5b83\u5c31\u662f\u672c\u76ca\u6bd4\u7684\u5012\u6578\u5c31\u597d\u3002<\/p><\/blockquote>\n<p><strong>\u5982\u4f55\u5224\u65b7\u80a1\u50f9\u4fbf\u5b9c\u6216\u6602\u8cb4\uff1a<\/strong><\/p>\n<ul>\n<li><span style=\"font-size: 16px;\"><strong>\u76c8\u9918\u6b96\u5229\u7387\u9ad8\uff1a<\/strong>\u80a1\u50f9\u88ab\u4f4e\u4f30\uff0c\u8cb7\u5165\u80a1\u7968\u9810\u671f\u672a\u4f86\u5831\u916c\u7387\u53ef\u80fd\u8f03\u9ad8\uff0c\u53ef\u80fd<strong>\u6709\u8f03\u5927\u5b89\u5168\u908a\u969b<\/strong>\u3002<\/span><\/li>\n<li><span style=\"font-size: 16px;\"><strong>\u76c8\u9918\u6b96\u5229\u7387\u4f4e\uff1a<\/strong>\u80a1\u50f9\u88ab\u9ad8\u4f30\u3001\u50f9\u683c\u6602\u8cb4\uff0c\u9810\u671f\u672a\u4f86\u5831\u916c\u7387\u53ef\u80fd\u8f03\u4f4e\uff0c\u53ef\u80fd<strong>\u6c92\u6709\u5b89\u5168\u908a\u969b<\/strong>\u3002<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"%E7%9B%88%E9%A4%98%E6%AE%96%E5%88%A9%E7%8E%87%E5%A6%82%E4%BD%95%E8%A8%88%E7%AE%97%EF%BC%9F\"><\/span>\u76c8\u9918\u6b96\u5229\u7387\u5982\u4f55\u8a08\u7b97\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<blockquote><p><strong>\u76c8\u9918\u6b96\u5229\u7387<\/strong><strong>\u8a08\u7b97\u516c\u5f0f\uff1a\u6bcf\u80a1\u76c8\u9918EPS \u00f7 \u80a1\u50f9(\u76ee\u524d\u8cb7\u9032\u50f9\u683c)<\/strong><\/p>\n<p>\u5176\u4e2dEPS\u8a08\u7b97\u5e38\u7528\u7684\u5305\u62ec\uff1a<br \/>\n1. \u8fd1\u56db\u5b63EPS\u5408\u8a08<br \/>\n2. \u53bb\u5e74EPS<br \/>\n3. \u8fd15\u5e74EPS\u5e73\u5747<br \/>\n\u9078\u64c7\u54ea\u4e00\u7a2eEPS\u4f86\u8a08\u7b97\u5176\u5be6\u4e26\u6c92\u6709\u7d55\u5c0d\u6a19\u6e96\uff0c\u95dc\u9375\u5728\u65bc\u8a72EPS\u662f\u5426\u80fd\u6709\u6548\u5730\u7528\u4f86\u9810\u4f30\u672a\u4f86EPS\u3002<\/p><\/blockquote>\n<p>\u76c8\u9918\u6b96\u5229\u7387\u986f\u793a\u6295\u8cc7\u4eba\u6295\u8cc7\u4e00\u9593\u516c\u53f8\u80a1\u7968\uff0c\u6bcf1\u5143\u53ef\u4ee5\u7522\u751f\u591a\u5c11\u7684<a href=/index.html"https:\/\/\/what-is-eps\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u6bcf\u80a1\u76c8\u9918EPS<\/a>\uff0c<br \/>\n\u5b83\u901a\u5e38\u88ab\u6295\u8cc7\u4eba\u7528\u4f86\u8a55\u4f30\u6295\u8cc7\u5831\u916c\u7387\uff0c\u7528\u4f86\u6bd4\u8f03\u4e0d\u540c\u6a19\u7684\u6f5b\u5728\u5831\u916c\u3002<\/p>\n<p>\u8209\u4f8b\u4f86\u8aaa\uff0c\u5e95\u4e0b\u6709\u5169\u500b\u6295\u8cc7\u6a19\u7684\uff0c\u4f60\u6703\u9078\u54ea\u500b\uff1f<\/p>\n<ul>\n<li><span style=\"font-size: 16px;\">A\u516c\u53f8\u80a1\u50f9\u70ba\u6bcf\u80a140\u5143\uff0c\u8a72\u516c\u53f8\u5728\u8fd1\u56db\u5b63\u7684\u6bcf\u80a1\u76c8\u9918(EPS)\u5408\u8a08\u70ba\u6bcf\u80a14\u5143\u3002<\/span><\/li>\n<li><span style=\"font-size: 16px;\">B\u516c\u53f8\u80a1\u50f9\u70ba\u6bcf\u80a140\u5143\uff0c\u8a72\u516c\u53f8\u5728\u8fd1\u56db\u5b63\u7684\u6bcf\u80a1\u76c8\u9918(EPS)\u5408\u8a08\u70ba\u6bcf\u80a15\u5143\u3002<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 16px;\">\u8a08\u7b97\uff1a<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 16px;\">A\u516c\u53f8\u6536\u76ca\u7387\uff1aEPS 4 \u5143 \u00f7 \u80a1\u50f940 = 10%<\/span><\/li>\n<li><span style=\"font-size: 16px;\">B\u516c\u53f8\u6536\u76ca\u7387\uff1aEPS 5 \u5143 \u00f7 \u80a1\u50f940 = 12.5%<\/span><\/li>\n<\/ul>\n<p><strong>\u76c8\u9918\u6b96\u5229\u7387\u8f03\u9ad8\uff0c\u4ee3\u8868\u80a1\u50f9\u88ab\u4f4e\u4f30\uff1b\u76c8\u9918\u6b96\u5229\u7387\u8f03\u4f4e\uff0c\u4ee3\u8868\u80a1\u50f9\u88ab\u9ad8\u4f30\u3002<\/strong><\/p>\n<p>\u56e0\u6b64\u4e0a\u9762\u7684\u4f8b\u5b50\u4f86\u770b\uff0c<br \/>\nB\u516c\u53f8\u7684\u76c8\u9918\u6b96\u5229\u7387\u8f03\u9ad8\u3001\u57fa\u672c\u4e0a\u6295\u8cc7B\u516c\u53f8\u9810\u671f\u9577\u671f\u6709\u8f03\u9ad8\u7684\u5831\u916c\u3002<\/p>\n<blockquote><p><strong>\u5e02\u5834\u5148\u751f\u63d0\u793a\uff1a\u4f30\u503c\u6642\u8981\u540c\u6642\u8003\u616e\u6210\u9577\u7387<\/strong><\/p>\n<p>\u76c8\u9918\u6b96\u5229\u7387\u8a08\u7b97\u6642\u4f7f\u7528\u7684\u6bcf\u80a1\u76c8\u9918EPS\uff0c\u901a\u5e38\u662f\u53bb\u5e74\u6216\u8fd14\u5b63\u7684EPS\uff0c<br \/>\n\u800c\u8a08\u7b97\u51fa\u4f86\u7684\u76c8\u9918\u6b96\u5229\u7387\uff0c\u662f\u5047\u8a2d\u672a\u4f86EPS\u6703\u548c\u904e\u53bb\u7684EPS\u76f8\u540c\uff0c\u6240\u5f97\u51fa\u7684\u5831\u916c\u7387\u3002<\/p>\n<p>\u4f46\u771f\u5be6\u4e16\u754c\u4e2d\uff0c\u672a\u4f86\u76c8\u9918\u53ef\u80fd\u6210\u9577\u3001\u53ef\u80fd\u8870\u9000\uff0c\u5c0d\u672a\u4f86\u6210\u9577\u6027\u7684\u9810\u671f\u4e5f\u6703\u5f71\u97ff\u7576\u4e0b\u80a1\u50f9\u9ad8\u4f4e\uff0c<\/p>\n<p>\u901a\u5e38\u5177\u6709\u9ad8\u6210\u9577\u6f5b\u529b\u7684\u80a1\u7968\u4f30\u503c\u6703\u8f03\u9ad8\u3001\u76c8\u9918\u6b96\u5229\u7387\u53ef\u80fd\u4e5f\u8f03\u4f4e\uff0c\u76c8\u9918\u6b96\u5229\u7387\u770b\u4f3c\u4f4e\u5831\u916c\uff0c\u4f46\u5be6\u969b\u4e0a\u4e5f\u8a31\u4e26\u4e0d\u6602\u8cb4\u3002<br \/>\n\u53cd\u4e4b\uff0c\u8870\u9000\u7684\u516c\u53f8\u5373\u4f7f\u6709\u9ad8\u7684\u76c8\u9918\u6b96\u5229\u7387\uff0c\u4f46\u8003\u616e\u5230\u672a\u4f86\u76c8\u9918\u8870\u9000\uff0c\u76c8\u9918\u6b96\u5229\u7387\u770b\u4f3c\u9ad8\u5831\u916c\uff0c\u4f46\u5be6\u969b\u4e0a\u4e5f\u8a31\u4e26\u4e0d\u4fbf\u5b9c\u3002<\/p>\n<p>\u8a55\u4f30\u6642\u61c9\u8a72\u8981\u642d\u914d\u57fa\u672c\u9762\u53bb\u89c0\u5bdf\u516c\u53f8\u7684\u6210\u9577\u6f5b\u529b\uff0c\u624d\u80fd\u5224\u5225\u662f\u4e0d\u662f\u80a1\u50f9\u7684\u771f\u5be6\u9ad8\u4f4e\u7a0b\u5ea6\u3002<\/p>\n<p>\u53ea\u6709\u76c8\u9918\u76f8\u5c0d\u7a69\u5b9a\u3001\u672a\u4f86\u5bb9\u6613\u9810\u671f\u7684\u516c\u53f8\uff0c\u9032\u884c\u4f30\u503c\u624d\u6709\u610f\u7fa9\u3002<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"%E7%9B%88%E9%A4%98%E6%AE%96%E5%88%A9%E7%8E%87%E8%88%87%E6%9C%AC%E7%9B%8A%E6%AF%94%E6%9C%89%E4%BB%80%E9%BA%BC%E5%B7%AE%E7%95%B0%EF%BC%9F\"><\/span>\u76c8\u9918\u6b96\u5229\u7387\u8207\u672c\u76ca\u6bd4\u6709\u4ec0\u9ebc\u5dee\u7570\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u76c8\u9918\u6b96\u5229\u7387\u662f\u6bcf\u5e74\u6216\u6bcf\u5b63\u7684\u6bcf\u80a1\u76c8\u9918\u8207\u80a1\u50f9\u7684\u6bd4\u503c\uff0c<br \/>\n\u56e0\u6b64\u4e5f\u53ef\u4ee5\u7a31\u70ba<strong>\u76ca\u672c\u6bd4<\/strong>\uff0c\u5b83\u662f<a href=/index.html"https:\/\/\/pe-ratio-basic\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">\u672c\u76ca\u6bd4<\/a>\u7684\u5012\u6578(\u53cd\u6bd4)\uff0c\u5f9e\u516c\u5f0f\u4e0a\u4f86\u770b\u5169\u8005\u7684\u5dee\u7570\uff1a<\/p>\n<ul>\n<li><span style=\"font-size: 16px;\"><strong>\u672c\u76ca\u6bd4\u516c\u5f0f(P\/E)<\/strong>\uff1a\u80a1\u50f9 \u00f7 \u6bcf\u80a1\u76c8\u9918(EPS)<\/span><\/li>\n<li><span style=\"font-size: 16px;\"><strong>\u76c8\u9918\u6b96\u5229\u7387\u516c\u5f0f(E\/P)<\/strong>\uff1a\u6bcf\u80a1\u76c8\u9918(EPS) \u00f7 \u80a1\u50f9<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 16px;\">\u7c21\u55ae\u4f86\u8aaa\uff0c\u5047\u8a2d\u672a\u4f86\u6bcf\u80a1\u76c8\u9918\u6703\u548c\u904e\u53bb\u4e00\u6a23\u7684\u60c5\u6cc1\u4e0b\uff1a<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 16px;\"><strong>\u672c\u76ca\u6bd4\uff1a<\/strong>\u544a\u8a34\u6295\u8cc7\u4eba\u8cb7\u9032\u80a1\u7968\u5f8c\uff0c\u591a\u4e45\u53ef\u4ee5\u56de\u672c<\/span><\/li>\n<li><span style=\"font-size: 16px;\"><strong>\u76c8\u9918\u6b96\u5229\u7387\uff1a<\/strong>\u544a\u8a34\u6295\u8cc7\u4eba\u6bcf\u6301\u6709\u4e00\u80a1\uff0c\u53ef\u4ee5\u8cfa\u591a\u5c11\u9322<\/span><\/li>\n<\/ul>\n<p>\u76c8\u9918\u6b96\u5229\u7387\u3001<a href=/index.html"https:\/\/\/pe-ratio-basic\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">\u672c\u76ca\u6bd4<\/a>\u90fd\u662f\u8ca1\u52d9\u6bd4\u7387\uff0c\u8861\u91cf\u4e00\u9593\u516c\u53f8\u6bcf\u80a1\u76c8\u9918\u8207\u8a72\u516c\u53f8\u6bcf\u80a1\u80a1\u7968\u50f9\u683c\u7684\u95dc\u4fc2\uff0c<br \/>\n\u7576\u4f60\u5df2\u7d93\u8a55\u4f30\u5b8c\u4e00\u9593\u516c\u53f8\u7684\u9ad4\u8cea\u8207\u6210\u9577\u6027\uff0c<br \/>\n\u9700\u8981\u5224\u65b7\u50f9\u683c\u662f\u5426\u8cb4\u6216\u4fbf\u5b9c\uff0c\u5927\u90e8\u5206\u4eba\u5e38\u4f7f\u7528\u7684\u662f\u672c\u76ca\u6bd4\uff0c<br \/>\n\u4e00\u822c\u4f86\u8aaa\uff0c<strong>\u672c\u76ca\u6bd4\u6578\u5b57\u8d8a\u5c0f\u4ee3\u8868\u80a1\u50f9\u8d8a\u4fbf\u5b9c\uff0c\u4f60\u7684\u6295\u8cc7\u53ef\u4ee5\u8d8a\u5feb\u56de\u672c<\/strong>\u3002<\/p>\n<p><strong>\u4f46\u7528\u672c\u76ca\u6bd4\u6709\u500b\u554f\u984c\u662f\uff1a\u4e0d\u76f4\u89ba\u3002<\/strong><\/p>\n<p>\u4f8b\u5982\u4f60\u5f88\u96e3\u5206\u8fa8\uff0c40\u500d\u672c\u76ca\u6bd4\u548c50\u500d\u672c\u76ca\u6bd4\u5230\u5e95\u5dee\u591a\u5c11\uff1f\u8ddf\u5176\u4ed6\u5546\u54c1\u6bd4\u5230\u5e95\u597d\u6216\u4e0d\u597d\u3002<\/p>\n<p>\u5982\u679c\u662f\u672c\u76ca\u6bd4\u5012\u6578\uff0c2.5%\u76c8\u9918\u6b96\u5229\u7387\u548c2%\u76c8\u9918\u6b96\u5229\u7387\uff0c\u5c31\u76f8\u5c0d\u5bb9\u6613\u5224\u65b7\u5f97\u591a\uff0c\u4e5f\u66f4\u5bb9\u6613\u8ddf\u5176\u4ed6\u5404\u7a2e\u6295\u8cc7\u7522\u54c1\u505a\u6bd4\u8f03\u3002<\/p>\n<p>\u7576\u7136\uff0c\u591a\u51fa\u7684\u9ad8\u5831\u916c\u7387\u4ee3\u8868\u8457<span style=\"font-size: 16px;\"><a href=/index.html"https:\/\/\/margin-of-safety-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"internal\">\u5b89\u5168\u908a\u969b<\/a>\uff0c\u800c\u4f4e\u4f30\u7684\u80a1\u50f9\u4e5f<\/span>\u5fc5\u7136\u6709\u5b83\u5f62\u6210\u7684\u56e0\u7d20\uff0c<br \/>\n\u61c9\u8a72\u8981\u9032\u4e00\u6b65\u8003\u91cf\u80a1\u50f9\u4e0b\u8dcc\u7684\u539f\u56e0\uff0c\u770b\u662f\u77ed\u671f\u5f71\u97ff\u76c8\u9918\uff0c\u6216\u8005\u662f\u9577\u671f\u5f71\u97ff\u76c8\u9918\uff0c\u624d\u80fd\u5c0d\u80a1\u50f9\u9ad8\u4f4e\u4f5c\u51fa\u5224\u65b7\u3002<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E7%9B%88%E9%A4%98%E6%AE%96%E5%88%A9%E7%8E%87%E5%8E%BB%E5%93%AA%E8%A3%A1%E6%9F%A5%EF%BC%9F\"><\/span>\u76c8\u9918\u6b96\u5229\u7387\u53bb\u54ea\u88e1\u67e5\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u63d0\u4f9b\u76c8\u9918\u6b96\u5229\u7387\u67e5\u8a62\u7684\u7db2\u7ad9\u5176\u5be6\u5f88\u5c11\uff0c\u56e0\u70ba\u9019\u6578\u503c\u4e00\u822c\u88ab\u8a8d\u70ba\u548c\u672c\u76ca\u6bd4\u662f\u540c\u6a23\u4e00\u4ef6\u4e8b\uff0c\u800c\u672c\u76ca\u6bd4\u66f4\u5ee3\u6cdb\u88ab\u4f7f\u7528\uff0c<br \/>\n\u56e0\u6b64\u5728\u4efb\u4f55\u80fd\u67e5\u8a62\u5230\u672c\u76ca\u6bd4PE ratio\u7684\u7db2\u7ad9(\u5e7e\u4e4e\u6bcf\u500b\u7db2\u7ad9\u90fd\u80fd\u67e5\u5230\u672c\u76ca\u6bd4)\uff0c\u5c07\u672c\u76ca\u6bd4\u5012\u6578\u8a08\u7b97\uff0c\u5c31\u662f\u76c8\u9918\u6b96\u5229\u7387\u3002<\/p>\n<p>\u76c8\u9918\u6b96\u5229\u7387\u5c31\u662f\u672c\u76ca\u6bd4\u7684\u5012\u6578\uff0c\u8a08\u7b97\u516c\u5f0f\u5982\u4e0b\uff1a<\/p>\n<blockquote><p><span style=\"font-size: 16px;\"><strong>\u76c8\u9918\u6b96\u5229\u7387% = 1 \u00f7 \u672c\u76ca\u6bd4<\/strong><\/span><\/p><\/blockquote>\n<p>\u5982\u679c\u67e5\u4e0d\u5230\u76c8\u9918\u6b96\u5229\u7387\uff0c\u90a3\u9ebc\u9664\u4e86\u8a08\u7b97EPS\u8207\u80a1\u50f9\u76f8\u9664\uff0c\u4e5f\u53ef\u4ee5\u76f4\u63a5\u75281\u9664\u4ee5\u672c\u76ca\u6bd4\uff0c\u90fd\u80fd\u7b97\u51fa\u76c8\u9918\u6b96\u5229\u7387\u3002<\/p>\n<p><strong>\u53f0\u80a1\u76c8\u9918\u6b96\u5229\u7387(\u76c8\u9918<\/strong><strong>\u6536\u76ca\u7387)<\/strong><strong>\u67e5\u8a62\uff1a<\/strong><\/p>\n<p>\u9245\u4ea8\u7db2(<a href=/index.html"https:\/\/www.cnyes.com\/twstock\/finratio2.aspx?code=2330\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\">cnyes.com)<\/a>\u7db2\u7ad9\uff1a\u5e95\u4e0b\u4ee5\u53f0\u7a4d\u96fb\u70ba\u4f8b\u3002<\/p>\n<p>\u2460\u67e5\u8a62\u60f3\u8981\u7684\u500b\u80a1\uff0c\u53ef\u4ee5\u770b\u5230\u500b\u80a1\u8cc7\u6599<br \/>\n\u2461\u9ede\u9078\u8ca1\u52d9\u9762&#8211;&gt;\u8ca1\u52d9\u6bd4\u7387&#8211;&gt;\u5e74\u5ea6\u8ca1\u52d9\u6bd4\u7387<br \/>\n\u2462\u5728\u5e02\u5834\u50f9\u503c\u6b04\u4f4d\uff0c\u5373\u53ef\u627e\u5230\u76c8\u9918\u6536\u76ca\u7387<\/p>\n<p>\u4e0d\u904e\u9019\u88e1\u5448\u73fe\u5730\u7684\u76c8\u9918\u6536\u76ca\u7387\uff0c\u4e26\u975e\u672c\u76ca\u6bd4\u5012\u6578\uff0c\u7531\u65bc\u8a72\u7db2\u7ad9\u4e26\u6c92\u6709\u63d0\u4f9b\u660e\u78ba\u7684\u8a08\u7b97\u516c\u5f0f\uff0c\u56e0\u6b64\u7cbe\u78ba\u5ea6\u6709\u5f85\u91d0\u6e05\u3002<\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-38060 size-full\" src=/index.html"https:\/\/\/wp-content\/uploads\/20220630110528_42.jpg\" alt=\"\u5982\u4f55\u67e5\u8a62\u53f0\u80a1\u76c8\u9918\u6b96\u5229\u7387\" width=\"1557\" height=\"815\" srcset=\"https:\/\/\/wp-content\/uploads\/20220630110528_42.jpg 1557w, https:\/\/\/wp-content\/uploads\/20220630110528_42-1536x804.jpg 1536w\" sizes=\"(max-width: 1557px) 100vw, 1557px\" \/><\/p>\n<p><strong>\u7f8e\u80a1\u76c8\u9918\u6b96\u5229\u7387(\u76c8\u9918<\/strong><strong>\u6536\u76ca\u7387)<\/strong><strong>\u67e5\u8a62\uff1a<\/strong><\/p>\n<p>\u6668\u661f(<a href=/index.html"https:\/\/www.morningstar.com\/stocks\/xnas\/aapl\/valuation\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\">MorningStar)<\/a>\u7db2\u7ad9\uff1a\u5e95\u4e0b\u4ee5Apple(\u80a1\u7968\u4ee3\u865f\uff1aAAPL)\u70ba\u4f8b\u3002<\/p>\n<p>\u2460\u67e5\u8a62\u60f3\u8981\u7684\u500b\u80a1\uff0c\u9ede\u9078Valuation<br \/>\n\u2461\u627e\u5230Earnings Yield %\u6b04\u4f4d<br \/>\n\u2462\u5373\u53ef\u770b\u5230\u500b\u80a1\u7684\u76c8\u9918\u6b96\u5229\u7387Earnings Yield\u3002<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-38059\" src=/index.html"https:\/\/\/wp-content\/uploads\/20220630103112_1.jpg\" alt=\"\u5982\u4f55\u67e5\u8a62\u7f8e\u80a1\u76c8\u9918\u6b96\u5229\u7387\" width=\"1557\" height=\"815\" srcset=\"https:\/\/\/wp-content\/uploads\/20220630103112_1.jpg 1557w, https:\/\/\/wp-content\/uploads\/20220630103112_1-1536x804.jpg 1536w\" sizes=\"(max-width: 1557px) 100vw, 1557px\" \/><\/p>\n<blockquote><p><strong>\u5e02\u5834\u5148\u751f\u63d0\u793a\uff1a\u845b\u6797\u5e03\u96f7\u7684 Earnings Yield<\/strong><\/p>\n<p>\u6709\u53e6\u4e00\u500bEarnings Yield\u8a08\u7b97\u516c\u5f0f\uff0c\u662f\u7531\u845b\u6797\u5e03\u96f7\u63d0\u51fa\uff0c<\/p>\n<p>Earnings Yield = <a href=/index.html"https:\/\/\/ev-ebitda-defination\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u7a05\u524d\u606f\u524d\u76c8\u9918EBIT<\/a> <span style=\"font-size: 16px;\"> \u00f7 <a href=/index.html"https:\/\/\/ev-ebitda-defination\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u4f01\u696d\u50f9\u503cEnterprise Value<\/a><\/span><\/p>\n<p><span style=\"font-size: 16px;\">\u4f01\u696d\u50f9\u503c = \u4f01\u696d\u5e02\u503c + \u7279\u5225\u80a1\u80a1\u6b0a + \u9577\u671f\u50b5\u52d9 + \u77ed\u671f\u50b5\u52d9 + \u5c11\u6578\u80a1\u6b0a &#8211; \u73fe\u91d1<\/span><\/p>\n<p>\u4f01\u696d\u50f9\u503c\u767d\u8a71\u7684\u8aaa\uff0c\u5c31\u662f\u628a\u6574\u9593\u516c\u53f8\u8cb7\u4e0b\u4f86\u4e26\u4e14\u6e05\u511f\u8ca0\u50b5\u6240\u9700\u7684\u91d1\u984d(\u516c\u53f8\u5e33\u4e0a\u73fe\u91d1\u53ef\u7528\u4f86\u9084\u50b5)\uff0c<br \/>\n\u4f8b\u5982\u516c\u53f8\u5e02\u503c100\u5104\uff0c\u8cb7\u4e0b\u516c\u53f8\u5f8c\u518d\u628a\u8ca0\u50b530\u5104\u9084\u6e05\uff0c\u6263\u9664\u5e33\u4e0a\u539f\u670910\u5104\u73fe\u91d1\u53ef\u4ee5\u62ff\u4f86\u7528\uff0c\u5be6\u969b\u9700\u8981\u82b1120\u5104\u5143\u3002<\/p>\n<p>\u845b\u6797\u5e03\u96f7Joel Greenblatt\u63d0\u51fa\u7684\u8a08\u7b97\u65b9\u6cd5\uff0c\u6574\u9ad4\u6982\u5ff5\u5176\u5be6\u548c\u76c8\u9918\u6b96\u5229\u7387\u4e00\u6a23\uff0c\u4f46\u8a08\u7b97\u4e0a\u505a\u4e86\u53bb\u69d3\u687f\uff0c<br \/>\n\u8b93\u9ad8\u69d3\u687f\u7d93\u71df\u7684\u4f01\u696d\u53ca\u4f4e\u69d3\u687f\u4f01\u696d\u66f4\u6709\u53ef\u6bd4\u6027 (\u4f4e\u69d3\u687f\u7684\u4f01\u696d\u5831\u916c\u66f4\u4f73)\u3002<\/p>\n<p>\u6211\u89ba\u5f97\u96d6\u7136\u8907\u96dc\uff0c\u4f46\u4e5f\u662f\u5f88\u6709\u610f\u601d\u7684\u4f5c\u6cd5\uff0c\u53ef\u4ee5\u6e1b\u5c11\u4e00\u4e9b\u8aa4\u5224\u3002<\/p>\n<p>\u53ef\u4ee5\u5728Gurufocus\u7db2\u7ad9\u4e0a\u67e5\u5230\u9019\u500b\u7279\u6b8a\u7684<a href=/index.html"https:\/\/www.gurufocus.com\/stock\/MSFT\/financials\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\">Earnings Yield<\/a>\u3002<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"%E5%BF%AB%E9%80%9F%E9%87%8D%E9%BB%9E%E6%95%B4%E7%90%86%EF%BC%9A%E7%9B%88%E9%A4%98%E6%AE%96%E5%88%A9%E7%8E%87%E6%98%AF%E4%BB%80%E9%BA%BC%EF%BC%9F\"><\/span>\u5feb\u901f\u91cd\u9ede\u6574\u7406\uff1a\u76c8\u9918\u6b96\u5229\u7387\u662f\u4ec0\u9ebc\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><span style=\"font-size: 16px;\">\u76c8\u9918\u6b96\u5229\u7387\u662f\u80a1\u6771\u7528\u591a\u5c11\u9322\u8cb7\u5165\u9019\u9593\u516c\u53f8\u7684\u5831\u916c\u7387\uff0c\u6240\u4ee5\u4e5f\u7a31\u70ba\u5916\u90e8\u80a1\u6771\u5831\u916c\u7387\uff0c\u5b83\u662f\u672c\u76ca\u6bd4\u7684\u5012\u6578\u3002<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u672c\u76ca\u6bd4\u544a\u8a34\u6295\u8cc7\u4eba\u8cb7\u9032\u80a1\u7968\u5f8c\uff0c\u591a\u4e45\u53ef\u4ee5\u56de\u672c\uff1b\u76c8\u9918\u6b96\u5229\u7387\u544a\u8a34\u6295\u8cc7\u4eba\u6bcf\u6301\u6709\u4e00\u80a1\uff0c\u53ef\u4ee5\u8cfa\u591a\u5c11\u9322\u3002\u56e0\u6b64\u76c8\u9918\u6b96\u5229\u7387\u4e3b\u8981\u662f\u7528\u4f86\u6bd4\u5c0dx\u5169\u500b\u76f8\u4f3c\u7684\u540c\u8cc7\u6a19\u7684\uff0c\u54ea\u500b\u6295\u8cc7\u6a19\u7684\u8f03\u5212\u7b97\u3002<\/span><\/li>\n<li><span style=\"font-size: 16px;\">\u76c8\u9918\u6b96\u5229\u7387\u8f03\u9ad8\uff0c\u4ee3\u8868\u80a1\u50f9\u88ab\u4f4e\u4f30\uff1b\u76c8\u9918\u6b96\u5229\u7387\u8f03\u4f4e\uff0c\u4ee3\u8868\u80a1\u50f9\u88ab\u9ad8\u4f30\u3002\u4f46\u662f\u5728\u7528\u76c8\u9918\u6b96\u5229\u7387\u5224\u65b7\u80a1\u50f9\u4fbf\u5b9c\u6216\u6602\u8cb4\u6642\uff0c\u9084\u5fc5\u9808\u8003\u91cf\u516c\u53f8\u7684\u6210\u9577\u6f5b\u529b\u624d\u6e96\u78ba\u3002<\/span><\/li>\n<\/ol>\n<p>\u5982\u679c\u60f3\u8981\u66f4\u6df1\u5165\u4e86\u89e3\u672c\u76ca\u6bd4\uff0c\u53ef\u95b1\u8b80\u4ee5\u4e0b\u5e02\u5834\u5148\u751f\u7684\u6587\u7ae0\uff1a<\/p>\n<p>1. <a href=/index.html"https:\/\/\/pe-ratio-basic\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u672c\u76ca\u6bd4\u662f\u4ec0\u9ebc<\/a><\/p>\n<p>2. <a href=/index.html"https:\/\/\/ratio-peg\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u4ec0\u9ebc\u662f\u672c\u76ca\u6210\u9577\u6bd4PEG Ratio\uff1f<\/a><\/p>\n<p>3. <a href=/index.html"https:\/\/\/10-pe-ratio-recover\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u70ba\u4ec0\u9ebc10\u500d\u672c\u76ca\u6bd4\u4e0d\u4ee3\u886810\u5e74\u56de\u672c\uff1f<\/a><\/p>\n<p>4. <a href=/index.html"https:\/\/\/market-index-pe-ratio\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u4ec0\u9ebc\u662f\u5927\u76e4\u672c\u76ca\u6bd4\uff1f<\/a><\/p>\n<p>5. <a href=/index.html"https:\/\/\/what-is-shiller-pe-0\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u8a8d\u8b58\u5e2d\u52d2\u672c\u76ca\u6bd4 Shiller&#8217;s PE\/PE 10<\/a><\/p>\n\n\u7de8\u8f2f\uff1aJoy \u4e3b\u7de8\uff1a\u5e02\u5834\u5148\u751f\n<p>\u66f4\u591a\u6295\u8cc7\u5ef6\u4f38\u95b1\u8b80\uff1a<\/p>\n<p>1. <a href=/index.html"https:\/\/\/etf0050\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u4e00\u5206\u9418\u770b\u61c2\u4ec0\u9ebc\u662fETF<\/a><\/p>\n<p>2. <a href=/index.html"https:\/\/\/blog-page\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u5982\u4f55\u958b\u59cb\u5b78\u6295\u8cc7? \u5206\u4eab\u8d85\u904e100\u7bc7\u7406\u8ca1\u5165\u9580\u6587\u7ae0<\/a><\/p>\n<p>3. <a href=/index.html"https:\/\/\/blog-page_30\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u6211\u7684\u6295\u8cc7\u66f8\u55ae &#8211; \u8d85\u904e40\u672c\u6295\u8cc7\u597d\u66f8\u63a8\u85a6<\/a><\/p>\n<p>4. <a href=/index.html"https:\/\/\/what-is-eps\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener noreferrer\">\u4e00\u5206\u9418\u770b\u61c2\u4ec0\u9ebc\u662fEPS<\/a><\/p>\n<p><strong><span style=\"font-size: 20px;\">\u52a0\u5165\u5e02\u5834\u5148\u751fFB\u793e\u5718\uff0c\u5145\u5be6\u66f4\u591a\u7406\u8ca1\u597d\u77e5\u8b58<\/span><\/strong><\/p>\r\n<p>50\u6b72\u4e4b\u524d\u60f3\u9000\u4f11\u4e00\u5b9a\u8981\u61c2\u7406\u8ca1\uff0c<br \/>\u89e3\u6c7a\u6295\u8cc7\u7684\u7169\u60f1\uff01<\/p>\r\n<p><a href=/index.html"https:\/\/bit.ly\/2NTBOAv\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\"><img decoding=\"async\" class=\"alignnone size-full wp-image-7106\" src=/index.html"https:\/\/\/wp-content\/uploads\/20190824195036_69.gif\" alt=\"\" width=\"687\" height=\"243\" \/><\/a><\/p>\r\n<p>\u6700\u8fd1\u5e02\u5834\u5148\u751f\u958b\u4e86\u4e00\u5802\u7684\u300c<strong>\u7528\u7f8e\u80a1ETF\u5275\u9020\u7a69\u5b9a\u73fe\u91d1\u6d41<\/strong>\u300d\u6559\u5b78\u8ab2\u7a0b\uff0c<br \/>\u9019\u5802\u8ab2\u7a0b\u6703\u5f9e\u57fa\u790e\u5165\u9580\u3001\u8cc7\u6599\u67e5\u8a62\u5230\u5be6\u969b\u64cd\u4f5c\uff0c<br \/>\u6559\u4f60\u5b78\u6703\u5efa\u7acb\u4e00\u500b\u7a69\u5b9a\u7684\u5168\u7403ETF\u6295\u8cc7\u7d44\u5408\uff0c\u76ee\u524d\u7d2f\u7a4d\u5df2\u7d93\u6709\u5c07\u8fd11100\u4f4d\u540c\u5b78\u4e0a\u8ab2\u3002<\/p>\r\n<p>\u7dda\u4e0a\u8ab2\u7a0b\u300b<a href=/index.html"http:\/\/bit.ly\/2FV3hPc\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"external\">\u7f8e\u80a1ETF\u5275\u9020\u7a69\u5b9a\u73fe\u91d1\u6d41\u7dda\u4e0a\u8ab2\u7a0b\u9023\u7d50<\/a><\/p>\n<p><br \/><strong><span style=\"color: #ff0000;\">\u5982\u679c\u89ba\u5f97\u9019\u7bc7\u6587\u7ae0\u6709\u5e6b\u52a9\uff0c<\/span><\/strong><br \/><strong><span style=\"color: #ff0000;\">\u5e6b\u6211\u6309\u500b\u8b9a\uff0c\u5206\u4eab\u7d66\u66f4\u591a\u4eba\u770b\u5230\uff0c\u8b1d\u8b1d\uff01<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6536\u76ca\u7387(Earnings Yield)\u53c8\u7a31\u70ba\u76c8\u9918\u6b96\u5229\u7387\u3001\u5916\u90e8\u80a1\u6771\u5831\u916c\u7387\u3001\u76ca\u672c\u6bd4(\u672c\u76ca\u6bd4\u7684\u5012\u6578)\uff0c \u5e38\u7528\u4f86\u5224\u65b7\u80a1 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[160],"tags":[1810],"table_tags":[],"modified_by":"eden","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[{"id":3921,"url":"https:\/\/\/what-is-dividend-yield\/","url_meta":{"origin":30025,"position":0},"title":"\u6b96\u5229\u7387\u662f\u4ec0\u9ebc\u610f\u601d\uff1f\u80a1\u7968\u6b96\u5229\u7387\u8d8a\u9ad8\u8d8a\u597d\u55ce\uff1f","author":"Mr.Market\u5e02\u5834\u5148\u751f","date":"2021-06-28","format":false,"excerpt":"\u6b96\u5229\u7387\u662f\u4ec0\u9ebc\uff1f \u6b96\u5229\u7387\u662f\u5c07\u6bcf\u80a1\u80a1\u606f\uff08\u73fe\u91d1\u80a1\u5229\uff09\u9664\u4ee5\u6bcf\u80a1\u80a1\u50f9\uff0c\u73fe\u91d1\u6b96\u5229\u7387\u4e5f\u5c31\u662f\u6307\u7684\u5c31\u662f\u628a\u4e00\u7b46\u9322\u9577\u671f\u6295\u5165\u2026","rel":"","context":"\u5728\u300c\u80a1\u7968\u6295\u8cc7\u300d\u4e2d","block_context":{"text":"\u80a1\u7968\u6295\u8cc7","link":"https:\/\/\/category\/learn-invest\/stock-invest\/"},"img":{"alt_text":"\u6b96\u5229\u7387\u662f\u4ec0\u9ebc-\u8d8a\u9ad8\u8d8a\u597d\u55ce","src":"https:\/\/i0.wp.com\/\/wp-content\/uploads\/20220817151633_71.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/\/wp-content\/uploads\/20220817151633_71.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/\/wp-content\/uploads\/20220817151633_71.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/\/wp-content\/uploads\/20220817151633_71.jpg?resize=700%2C400&ssl=1 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