{"id":26277,"date":"2023-12-07T02:30:02","date_gmt":"2023-12-07T02:30:02","guid":{"rendered":"https:\/\/masterskills.org\/blog\/phuong-phap-ti-so-binh-quan-the-public-company-comparables-method-la-gi.html"},"modified":"2023-12-07T02:30:02","modified_gmt":"2023-12-07T02:30:02","slug":"phuong-phap-ti-so-binh-quan-the-public-company-comparables-method-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/phuong-phap-ti-so-binh-quan-the-public-company-comparables-method-la-gi.html","title":{"rendered":"Ph\u01b0\u01a1ng ph\u00e1p t\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n (The Public Company Comparables Method) l\u00e0 g\u00ec?"},"content":{"rendered":"
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\"dgdn\"<\/div>\n
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H\u00ecnh minh h\u1ecda (Ngu\u1ed3n: proov)<\/p>\n<\/div>\n<\/div>\n

Ph\u01b0\u01a1ng ph\u00e1p t\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

Ph\u01b0\u01a1ng ph\u00e1p t\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n<\/b> trong ti\u1ebfng Anh t\u1ea1m d\u1ecbch l\u00e0: The\u00a0Public Company Comparables\u00a0Method.<\/b><\/p>\n

Ph\u01b0\u01a1ng ph\u00e1p t\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n<\/b>\u00a0l\u00e0 ph\u01b0\u01a1ng ph\u00e1p \u01b0\u1edbc t\u00ednh gi\u00e1 tr\u1ecb doanh nghi\u1ec7p c\u1ea7n th\u1ea9m \u0111\u1ecbnh gi\u00e1 th\u00f4ng qua t\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng trung b\u00ecnh c\u1ee7a c\u00e1c doanh nghi\u1ec7p so s\u00e1nh.<\/p>\n

\u0110i\u1ec1u ki\u1ec7n doanh nghi\u1ec7p so s\u00e1nh<\/font><\/h3>\n

Doanh nghi\u1ec7p so s\u00e1nh l\u00e0 doanh nghi\u1ec7p th\u1ecfa m\u00e3n c\u00e1c \u0111i\u1ec1u ki\u1ec7n sau:<\/p>\n

– T\u01b0\u01a1ng t\u1ef1 v\u1edbi doanh nghi\u1ec7p c\u1ea7n th\u1ea9m \u0111\u1ecbnh gi\u00e1 v\u1ec1 c\u00e1c y\u1ebfu t\u1ed1: ng\u00e0nh ngh\u1ec1 kinh doanh ch\u00ednh; kh\u00e1ch h\u00e0ng v\u00e0 th\u1ecb tr\u01b0\u1eddng ti\u00eau th\u1ee5; c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh.<\/p>\n

– C\u00f3 c\u1ed5 ph\u1ea7n \u0111\u01b0\u1ee3c giao d\u1ecbch th\u00e0nh c\u00f4ng tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u1ea1i th\u1eddi \u0111i\u1ec3m th\u1ea9m \u0111\u1ecbnh gi\u00e1 ho\u1eb7c g\u1ea7n th\u1eddi \u0111i\u1ec3m th\u1ea9m \u0111\u1ecbnh gi\u00e1 nh\u01b0ng kh\u00f4ng qu\u00e1 01 n\u0103m t\u00ednh \u0111\u1ebfn th\u1eddi \u0111i\u1ec3m th\u1ea9m \u0111\u1ecbnh gi\u00e1.<\/p>\n

C\u00e1c t\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng trong ph\u01b0\u01a1ng ph\u00e1p t\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n bao g\u1ed3m: t\u1ec9 s\u1ed1 gi\u00e1 tr\u00ean thu nh\u1eadp b\u00ecnh qu\u00e2n (P\/E ),\u00a0t\u1ec9 s\u1ed1 gi\u00e1 tr\u00ean doanh thu b\u00ecnh qu\u00e2n (P\/S),\u00a0t\u1ec9 s\u1ed1 gi\u00e1 tr\u00ean gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch b\u00ecnh qu\u00e2n (P\/B),\u00a0t\u1ec9 s\u1ed1 gi\u00e1 tr\u1ecb doanh nghi\u1ec7p tr\u00ean l\u1ee3i nhu\u1eadn tr\u01b0\u1edbc thu\u1ebf, l\u00e3i vay v\u00e0 kh\u1ea5u hao b\u00ecnh qu\u00e2n (EV\/EBITDA)<\/p>\n

Tr\u01b0\u1eddng h\u1ee3p \u00e1p d\u1ee5ng v\u00e0 nguy\u00ean t\u1eafc th\u1ef1c hi\u1ec7n ph\u01b0\u01a1ng ph\u00e1p t\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n<\/font><\/h3>\n

– Tr\u01b0\u1eddng h\u1ee3p \u00e1p d\u1ee5ng<\/b><\/p>\n

C\u00f3 \u00edt nh\u1ea5t 03 doanh nghi\u1ec7p so s\u00e1nh. \u01afu ti\u00ean c\u00e1c doanh nghi\u1ec7p so s\u00e1nh l\u00e0 c\u00e1c doanh nghi\u1ec7p \u0111\u00e3 ni\u00eam y\u1ebft tr\u00ean s\u00e0n ch\u1ee9ng kho\u00e1n ho\u1eb7c \u0111\u0103ng k\u00ed giao d\u1ecbch tr\u00ean UPCoM.<\/p>\n

– Nguy\u00ean t\u1eafc th\u1ef1c hi\u1ec7n<\/b><\/p>\n

+ C\u00e1ch th\u1ee9c x\u00e1c \u0111\u1ecbnh c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh, t\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng ph\u1ea3i nh\u1ea5t qu\u00e1n \u0111\u1ed1i v\u1edbi t\u1ea5t c\u1ea3 c\u00e1c doanh nghi\u1ec7p so s\u00e1nh v\u00e0 doanh nghi\u1ec7p c\u1ea7n th\u1ea9m \u0111\u1ecbnh gi\u00e1.<\/p>\n

+ C\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh, t\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u00e1c doanh nghi\u1ec7p so s\u00e1nh \u0111\u01b0\u1ee3c thu th\u1eadp t\u1eeb c\u00e1c ngu\u1ed3n kh\u00e1c nhau ph\u1ea3i \u0111\u01b0\u1ee3c r\u00e0 so\u00e1t, \u0111i\u1ec1u ch\u1ec9nh \u0111\u1ec3 b\u1ea3o \u0111\u1ea3m t\u00ednh nh\u1ea5t qu\u00e1n v\u1ec1 c\u00e1ch th\u1ee9c x\u00e1c \u0111\u1ecbnh tr\u01b0\u1edbc khi \u0111\u01b0a v\u00e0o s\u1eed d\u1ee5ng trong th\u1ea9m \u0111\u1ecbnh gi\u00e1.<\/p>\n

C\u00e1c b\u01b0\u1edbc x\u00e1c \u0111\u1ecbnh gi\u00e1 tr\u1ecb doanh nghi\u1ec7p<\/font><\/h3>\n

– B\u01b0\u1edbc 1: \u0110\u00e1nh gi\u00e1, l\u1ef1a ch\u1ecdn c\u00e1c doanh nghi\u1ec7p so s\u00e1nh.<\/p>\n

– B\u01b0\u1edbc 2: X\u00e1c \u0111\u1ecbnh t\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 \u01b0\u1edbc t\u00ednh gi\u00e1 tr\u1ecb doanh nghi\u1ec7p c\u1ea7n th\u1ea9m \u0111\u1ecbnh gi\u00e1.<\/p>\n

– B\u01b0\u1edbc 3: \u01af\u1edbc t\u00ednh gi\u00e1 tr\u1ecb doanh nghi\u1ec7p c\u1ea7n th\u1ea9m \u0111\u1ecbnh gi\u00e1.<\/p>\n

Gi\u00e1 tr\u1ecb doanh nghi\u1ec7p c\u1ea7n th\u1ea9m \u0111\u1ecbnh gi\u00e1 theo ph\u01b0\u01a1ng ph\u00e1p t\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh b\u1eb1ng trung b\u00ecnh c\u1ed9ng c\u00e1c k\u1ebft qu\u1ea3 gi\u00e1 tr\u1ecb doanh nghi\u1ec7p c\u1ea7n th\u1ea9m \u0111\u1ecbnh gi\u00e1 \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh theo t\u1eebng t\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng b\u00ecnh qu\u00e2n ho\u1eb7c x\u00e1c \u0111\u1ecbnh b\u1eb1ng vi\u1ec7c t\u00ednh b\u00ecnh qu\u00e2n c\u00f3 tr\u1ecdng s\u1ed1 c\u1ee7a c\u00e1c k\u1ebft qu\u1ea3.\u00a0<\/p>\n

Vi\u1ec7c x\u00e1c \u0111\u1ecbnh tr\u1ecdng s\u1ed1 cho t\u1eebng k\u1ebft qu\u1ea3 gi\u00e1 tr\u1ecb c\u00f3 th\u1ec3 d\u1ef1a tr\u00ean \u0111\u00e1nh gi\u00e1 m\u1ee9c \u0111\u1ed9 t\u01b0\u01a1ng \u0111\u1ed3ng gi\u1eefa c\u00e1c doanh nghi\u1ec7p so s\u00e1nh \u0111\u1ed1i v\u1edbi t\u1eebng lo\u1ea1i t\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 t\u00ednh to\u00e1n k\u1ebft qu\u1ea3 gi\u00e1 tr\u1ecb \u0111\u00f3 theo nguy\u00ean t\u1eafc:<\/p>\n

T\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng n\u00e0o c\u00f3 m\u1ee9c \u0111\u1ed9 t\u01b0\u01a1ng \u0111\u1ed3ng c\u00e0ng cao gi\u1eefa c\u00e1c doanh nghi\u1ec7p so s\u00e1nh th\u00ec k\u1ebft qu\u1ea3 gi\u00e1 tr\u1ecb s\u1eed d\u1ee5ng t\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng \u0111\u00f3 c\u00f3 tr\u1ecdng s\u1ed1 c\u00e0ng l\u1edbn.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: Th\u00f4ng t\u01b0 122\/\/TT-BTC Ti\u00eau chu\u1ea9n th\u1ea9m \u0111\u1ecbnh gi\u00e1 Vi\u1ec7t Nam s\u1ed1 12)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ph\u01b0\u01a1ng ph\u00e1p t\u1ec9 s\u1ed1 b\u00ecnh qu\u00e2n (ti\u1ebfng Anh: The Public Company Comparables Method) l\u00e0 m\u1ed9t ph\u01b0\u01a1ng ph\u00e1p trong c\u00e1ch ti\u1ebfp c\u1eadn t\u1eeb th\u1ecb tr\u01b0\u1eddng \u0111\u1ec3 th\u1ea9m \u0111\u1ecbnh gi\u00e1 doanh nghi\u1ec7p.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[414],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/26277"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=26277"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/26277\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=26277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=26277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=26277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}