市盈率在股票投资分析中的适用性研究

Research on the applicability of P/E in the stock investment analysis

在股票投资分析中,市盈率可以用来判断和比较股票的投资价值,又可以用来判断和比较股票的安全边际。一般而言,相比于高市盈率股票,市盈率较低的股票具有较高的投资价值和安全边际。同时,市盈率是一个可以动态变化的分析指标,它与股票的盈利能力密切相关,每股收益的增减会导致市盈率的变化。投资者不能简单地根据市盈率的高低进行股票投资,还必须深入分析股票的基本面情况,避免误入低市盈率股票投资的"便宜货陷阱"。

In stock investment analysis, P/E can be used to determine and compare the stock＇s investment value, but also can be used to determine and compare the margin of safety. In general, compared to the higher P/E stocks, lower P/E stocks have higher investment value and margin of safety. Meanwhile, P/E is a dynamic analysis indicator. It is closely related to the stock＇s profitability, and the change in earnings per share will lead to change it. Investors can not invest stocks simply based on the level of P/E, but also on in-depth analysis of the stock＇s fundamentals, avoiding failing into the ＂bargains trap＂ of investing the lower P/E stocks.