{"id":31168,"date":"2023-12-07T10:23:54","date_gmt":"2023-12-07T10:23:54","guid":{"rendered":"https:\/\/masterskills.org\/blog\/chi-so-p-e-price-to-earning-ratio-la-gi-dac-diem-cua-chi-so-p-e.html"},"modified":"2023-12-23T07:25:17","modified_gmt":"2023-12-23T00:25:17","slug":"chi-so-p-e-price-to-earning-ratio-la-gi-dac-diem-cua-chi-so-p-e","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/chi-so-p-e-price-to-earning-ratio-la-gi-dac-diem-cua-chi-so-p-e.html","title":{"rendered":"Ch\u1ec9 s\u1ed1 P\/E (Price to Earning Ratio) l\u00e0 g\u00ec? \u0110\u1eb7c \u0111i\u1ec3m c\u1ee7a ch\u1ec9 s\u1ed1 P\/E"},"content":{"rendered":"
\n
\n
<\/div>\n
\n

H\u00ecnh minh h\u1ecda (Ngu\u1ed3n: investopaper)<\/p>\n<\/div>\n<\/div>\n

Ch\u1ec9 s\u1ed1 P\/E<\/font><\/h2>\n

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

Ch\u1ec9 s\u1ed1 P\/E <\/b>trong ti\u1ebfng Anh g\u1ecdi l\u00e0: Price to Earning Ratio<\/b>.<\/p>\n

Ch\u1ec9 s\u1ed1 P\/E l\u00e0 ch\u1ec9 s\u1ed1 ph\u1ea3n \u00e1nh m\u1ed1i quan h\u1ec7 gi\u1eefa th\u1ecb gi\u00e1 (gi\u00e1 th\u1ecb tr\u01b0\u1eddng c\u1ed5 phi\u1ebfu hi\u1ec7n h\u00e0nh) c\u1ed5 phi\u1ebfu v\u1edbi l\u1ee3i nhu\u1eadn sau thu\u1ebf trong m\u1ed9t n\u0103m c\u1ee7a c\u00f4ng ty.<\/p>\n

L\u1ea5y v\u00ed d\u1ee5 t\u1eeb b\u00e1o c\u00e1o t\u00e0i ch\u00ednh c\u1ee7a Ng\u00e2n h\u00e0ng \u00c1 Ch\u00e2u (ACB). L\u1ee3i nhu\u1eadn sau thu\u1ebf n\u0103m 1999 c\u1ee7a ACB l\u00e0 51.564 tri\u1ec7u \u0111\u1ed3ng, chia cho t\u1ed5ng s\u1ed1 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c: 151,025 \u0111\u1ed3ng.<\/p>\n

Gi\u00e1 th\u1ecfa thu\u1eadn mua b\u00e1n c\u1ed5 phi\u1ebfu ACB (tr\u00ean th\u1ecb tr\u01b0\u1eddng kh\u00f4ng ch\u00ednh th\u1ee9c) m\u1edbi \u0111\u00e2y l\u00e0 1,7 tri\u1ec7u \u0111\u1ed3ng, v\u1eady P\/E c\u1ee7a ACB b\u1eb1ng 1.700.000 : 151,025 = 11,25 l\u1ea7n.<\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m c\u1ee7a ch\u1ec9 s\u1ed1 P\/E<\/font><\/h3>\n

Ch\u1ec9 s\u1ed1 n\u00e0y \u0111\u01b0\u1ee3c d\u00f9ng kh\u00e1 ph\u1ed5 bi\u1ebfn nh\u01b0 m\u1ed9t c\u00f4ng c\u1ee5 \u0111\u1ec3 nh\u00e0 \u0111\u1ea7u t\u01b0 xem x\u00e9t m\u00ecnh qua ch\u1ee9ng kho\u00e1n r\u1ebb hay \u0111\u1eaft. P\/E c\u00e0ng cao ngh\u0129a l\u00e0 ch\u1ee9ng kho\u00e1n mua c\u00e0ng cao v\u00e0 ng\u01b0\u1ee3c l\u1ea1i. M\u1eb7t kh\u00e1c, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 mua v\u1edbi P\/E gi\u00e1 cao \u0111\u1ec3 hi v\u1ecdng trong t\u01b0\u01a1ng lai l\u1ee3i nhu\u1eadn c\u00f4ng ty cao th\u00ec P\/E l\u00fac \u0111\u00f3 l\u1ea1i th\u1ea5p nh\u01b0 v\u00ed d\u1ee5 d\u01b0\u1edbi \u0111\u00e2y:<\/p>\n

L\u1ee3i nhu\u1eadn n\u0103m 1999 c\u1ee7a m\u1ed9t c\u00f4ng ty b\u00e1nh k\u1eb9o l\u00e0 12,7 t\u1ec9, P\/E l\u00e0 3,4; l\u1ee3i nhu\u1eadn 2000 l\u00e0 14,5 t\u1ec9, P\/E l\u00e0 2,9.<\/p>\n

Nh\u00e0 \u0111\u1ea7u t\u01b0 mua c\u1ed5 phi\u1ebfu v\u1edbi P\/E l\u00e0 3,4 l\u1ea7n so v\u1edbi l\u1ee3i nhu\u1eadn l\u00e0 12,7 t\u1ec9 c\u1ee7a n\u0103m 1999. N\u1ebfu n\u0103m 2000 l\u1ee3i nhu\u1eadn l\u00e0 14,5 t\u1ec9 th\u00ec nh\u00e0 \u0111\u1ea7u t\u01b0 mua v\u1edbi P\/E ch\u1ec9 c\u00f2n 2,9 l\u1ea7n do l\u1ee3i nhu\u1eadn c\u1ee7a c\u00f4ng ty \u0111\u00e3 t\u0103ng l\u00ean v\u00e0 n\u1ebfu n\u0103m 2001 l\u1ee3i nhu\u1eadn t\u0103ng n\u1eefa th\u00ec l\u00fac n\u00e0y P\/E s\u1ebd gi\u1ea3m n\u1eefa.<\/p>\n

Khi \u0111\u00f3 nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00e0y mu\u1ed1n b\u00e1n ra cho nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00e1c v\u00e0 khi nh\u00ecn v\u00e0o th\u00ec th\u1ea5y t\u1ea1i sao nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc mua P\/E 3,4 l\u1ea7n th\u00ec m\u00ecnh c\u0169ng mua 3,4 l\u1ea7n \u0111\u01b0\u1ee3c ch\u1ee9.\u00a0<\/p>\n

Th\u1ebf l\u00e0 ho\u00e0n t\u1ea5t th\u01b0\u01a1ng v\u1ee5. Nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc b\u00e1n \u0111\u01b0\u1ee3c P\/E l\u00e0 3,4 l\u1ea7n (ho\u1eb7c cao h\u01a1n n\u1ebfu ng\u01b0\u1eddi mua m\u1edbi ch\u1ea5p nh\u1eadn) so l\u1ee3i nhu\u1eadn n\u0103m 2000 th\u00ec c\u00f3 ngh\u0129a l\u00e0 h\u1ecd b\u00e1n cao h\u01a1n so v\u1edbi gi\u00e1 m\u00e0 h\u1ecd mua v\u00e0o n\u0103m 1999.<\/p>\n

V\u1ea5n \u0111\u1ec1 l\u00e0 P\/E bao nhi\u00eau l\u1ea7n th\u00ec h\u00ecnh th\u00e0nh cu\u1ed9c ch\u01a1i n\u00e0y, \u1edf \u0111\u00e2y c\u00f3 hai tr\u01b0\u1eddng h\u1ee3p x\u1ea3y ra:<\/p>\n

– N\u1ebfu nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ea5p nh\u1eadn P\/E cao th\u00ec r\u1ee7i ro c\u00f3 th\u1ec3 cao do mua gi\u00e1 cao so v\u1edbi l\u1ee3i nhu\u1eadn c\u00f4ng ty \u0111\u1ea1t \u0111\u01b0\u1ee3c.<\/p>\n

– M\u1eb7t kh\u00e1c mua P\/E cao c\u0169ng c\u00f3 th\u1ec3 r\u1ee7i ro th\u1ea5p, v\u00ec l\u00fac \u0111\u00f3 c\u00f4ng ty mua v\u00e0o c\u00f3 th\u1ec3 l\u00e0 c\u00f4ng ty c\u00f3 gi\u00e1 nh\u01b0 c\u00f4ng ty Coca Cola hay H\u00e0ng kh\u00f4ng Vi\u1ec7t Nam ch\u1eb3ng h\u1ea1n, c\u00e1c c\u00f4ng ty n\u00e0y ph\u00e1t tri\u1ec3n r\u1ea5t \u1ed5n \u0111\u1ecbnh.<\/p>\n

T\u1eeb \u0111\u00f3 m\u1edbi h\u00ecnh th\u00e0nh m\u1ed9t bi\u00ean \u0111\u1ed9 ch\u1ec9 s\u1ed1 P\/E cho t\u1eebng lo\u1ea1i c\u00f4ng ty, t\u1eebng l\u0129nh v\u1ef1c v\u00e0 t\u1eebng m\u00f4i tr\u01b0\u1eddng c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Theo xu h\u01b0\u1edbng tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n c\u00e1c n\u01b0\u1edbc tr\u00ean th\u1ebf gi\u1edbi th\u00ec l\u0129nh v\u1ef1c sau \u0111\u00e2y th\u01b0\u1eddng ch\u1ea5p nh\u1eadn c\u00e1c ch\u1ec9 s\u1ed1 P\/E cao (kh\u00f4ng k\u1ec3 c\u00e1c t\u1eadp \u0111o\u00e0n h\u00f9ng m\u1ea1nh):\u00a0<\/p>\n

Ng\u00e2n h\u00e0ng, t\u00e0i ch\u00ednh ch\u1ee9ng kho\u00e1n, c\u00f4ng ngh\u1ec7 tin h\u1ecdc, vi\u1ec5n th\u00f4ng, c\u00f4ng ngh\u1ec7 sinh h\u1ecdc, c\u00e1c ng\u00e0nh s\u1ea3n xu\u1ea5t c\u00f4ng nghi\u1ec7p k\u0129 thu\u1eadt cao.<\/p>\n

Hi\u1ec7n nay, c\u00e1c chuy\u00ean vi\u00ean t\u00e0i ch\u00ednh Vi\u1ec7t Nam nh\u1eadn \u0111\u1ecbnh P\/E t\u1ea1i th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam t\u1eeb 8 – 15 l\u1ea7n, \u0111i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u0129nh v\u1ef1c t\u00e0i ch\u00ednh ng\u00e2n h\u00e0ng ho\u1eb7c c\u00e1c c\u00f4ng ty c\u00f3 uy t\u00edn th\u00ec P\/E t\u1ea1i th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam t\u1eeb 10 – 15 l\u1ea7n v\u00e0 nh\u1eefng l\u0129nh v\u1ef1c kh\u00e1c c\u00f3 th\u1ec3 d\u01b0\u1edbi 10.<\/p>\n

Tuy nhi\u00ean, b\u1ea1n h\u00e3y c\u1ee9 ngh\u0129 xem, n\u1ebfu c\u00f4ng ty kh\u00f4ng c\u00f3 l\u1ee3i nhu\u1eadn \u0111i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 l\u1ee3i nhu\u1eadn \u00e2m, th\u00ec th\u1ecb gi\u00e1 c\u1ed5 phi\u1ebfu chia cho l\u1ee3i nhu\u1eadn trong m\u1ed9t n\u0103m l\u00e0 con s\u1ed1 \u00e2m th\u00ec l\u00e0m sao m\u00e0 c\u00f3 ch\u1ec9 s\u1ed1 P\/E \u0111\u01b0\u1ee3c.<\/p>\n

Do \u0111\u00f3, P\/E ch\u1ec9 l\u00e0 m\u1ed9t s\u1ed1 t\u01b0\u01a1ng \u0111\u1ed1i, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng c\u1ea7n ph\u1ea3i \u0111\u00e1nh gi\u00e1 th\u00eam c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh kh\u00e1c c\u00f3 li\u00ean quan mang t\u00ednh k\u0129 thu\u1eadt nhi\u1ec1u h\u01a1n.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: C\u1ea9m nang \u0111\u1ea7u t\u01b0 tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n, NXB T\u1eeb \u0111i\u1ec3n B\u00e1ch Khoa)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ch\u1ec9 s\u1ed1 P\/E (ti\u1ebfng Anh: Price to Earning Ratio) l\u00e0 ch\u1ec9 s\u1ed1 ph\u1ea3n \u00e1nh m\u1ed1i quan h\u1ec7 gi\u1eefa th\u1ecb gi\u00e1 c\u1ed5 phi\u1ebfu v\u1edbi l\u1ee3i nhu\u1eadn sau thu\u1ebf trong m\u1ed9t n\u0103m c\u1ee7a c\u00f4ng ty.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31168"}],"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=31168"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31168\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}