从财务角度看“中国石油”的投资价值

Discussed the Value of “Petrochina” with Financial Method

以长线投资理念著称的巴菲特于 2 0 0 3年 4月斥资购买“中国石油”的行为一时成为证券界的热门话题 ,笔者应用杜邦分析体系对“中国石油”的财务指标进行了评议 ,用市盈率估价模式、EBIT乘数法、股票获利率对其内在价值进行了估价 ,并得出了“中国石油”的市场价值被低估的结论。

Warren Buffet, known as his long term investment principle, bought the stock “Petrochina” in april,2003.This behavior arouses popular interest. This thesis discussed the financial index of “Petrochina” with the Dupont financial system, and assessed the inner value of “Petrochina” with P/E model, EBIT model and DD(dividend discount)model. The conclusion is the stock market undervalued the “Petrochina”.