{"id":31601,"date":"2023-12-07T10:51:58","date_gmt":"2023-12-07T10:51:58","guid":{"rendered":"https:\/\/masterskills.org\/blog\/phuong-phap-dinh-gia-co-phieu-theo-he-so-gia-tren-thu-nhap-la-gi.html"},"modified":"2023-12-23T09:38:35","modified_gmt":"2023-12-23T02:38:35","slug":"phuong-phap-dinh-gia-co-phieu-theo-he-so-gia-tren-thu-nhap-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/phuong-phap-dinh-gia-co-phieu-theo-he-so-gia-tren-thu-nhap-la-gi.html","title":{"rendered":"Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu theo h\u1ec7 s\u1ed1 gi\u00e1 tr\u00ean thu nh\u1eadp l\u00e0 g\u00ec?"},"content":{"rendered":"
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\"\u0111\u1ecbnh<\/div>\n
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H\u00ecnh minh h\u1ecda (Ngu\u1ed3n: josephmattera)<\/p>\n<\/div>\n<\/div>\n

Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu theo h\u1ec7 s\u1ed1 gi\u00e1 tr\u00ean thu nh\u1eadp<\/font><\/h2>\n

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

Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu theo h\u1ec7 s\u1ed1 gi\u00e1 tr\u00ean thu nh\u1eadp<\/b> l\u00e0 ph\u01b0\u01a1ng ph\u00e1p ph\u00e2n t\u00edch c\u01a1 b\u1ea3n thu\u1ed9c nh\u00f3m ph\u01b0\u01a1ng ph\u00e1p d\u1ef1a v\u00e0o c\u00e1c h\u1ec7 s\u1ed1. \u0110\u00e2y l\u00e0 ph\u01b0\u01a1ng ph\u00e1p \u0111\u01a1n gi\u1ea3n \u0111\u1ec3 \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu v\u00ec kh\u00f4ng c\u1ea7n nhi\u1ec1u th\u1eddi gian ph\u00e2n t\u00edch s\u1ed1 li\u1ec7u.<\/p>\n

(Theo: Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu d\u1ef1a tr\u00ean h\u1ec7 s\u1ed1 P\/E, \u1ee6y ban Ch\u1ee9ng kho\u00e1n Nh\u00e0 n\u01b0\u1edbc)<\/i><\/p>\n

H\u1ec7 s\u1ed1 gi\u00e1 tr\u00ean thu nh\u1eadp<\/b> \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00e1ch chia gi\u00e1 c\u1ed5 phi\u1ebfu cho thu nh\u1eadp (k\u00ed hi\u1ec7u l\u00e0 P\/E). \u0110\u1ed1i v\u1edbi m\u1ed9t th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ph\u00e1t tri\u1ec3n th\u00ec\u00a0h\u1ec7 s\u1ed1 P\/E\u00a0r\u1ea5t c\u00f3 \u00edch cho vi\u1ec7c \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu.\u00a0<\/p>\n

H\u1ec7 s\u1ed1 n\u00e0y cho nh\u00e0 \u0111\u1ea7u t\u01b0 bi\u1ebft h\u1ecd ph\u1ea3i tr\u1ea3 gi\u00e1 bao nhi\u00eau cho m\u1ed7i \u0111\u1ed3ng thu nh\u1eadp c\u1ee7a m\u1ed9t c\u1ed5 phi\u1ebfu v\u00e0 b\u1eb1ng c\u00e1ch ngh\u1ecbch \u0111\u1ea3o c\u1ee7a t\u1ec9 s\u1ed1 P\/E, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 x\u00e1c \u0111\u1ecbnh \u0111\u01b0\u1ee3c t\u1ec9 su\u1ea5t t\u01b0\u01a1ng \u0111\u1ed1i tr\u00ean kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd. Gi\u00e1 c\u1ed5 phi\u1ebfu s\u1ebd b\u1eb1ng h\u1ec7 s\u1ed1 P\/E h\u1ee3p l\u00ed nh\u00e2n v\u1edbi thu nh\u1eadp c\u1ee7a c\u1ed5 phi\u1ebfu.\u00a0<\/p>\n

C\u00e1c c\u00e1ch \u00e1p d\u1ee5ng c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p<\/font><\/h3>\n

Theo ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ecbnh gi\u00e1 n\u00e0y, v\u1ec1 m\u1eb7t l\u00ed thuy\u1ebft ch\u00fang ta c\u00f3 th\u1ec3 \u00e1p d\u1ee5ng m\u1ed9t trong c\u00e1c c\u00e1ch sau \u0111\u00e2y:<\/p>\n

– L\u1ea5y ch\u1ec9 s\u1ed1 P\/E b\u00ecnh qu\u00e2n to\u00e0n ng\u00e0nh m\u00e0 c\u00f4ng ty \u0111\u00f3 tham gia ho\u1eb7c l\u1ef1a ch\u1ecdn m\u1ed9t c\u00f4ng ty c\u00f3 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c giao d\u1ecbch r\u1ed9ng r\u00e3i c\u00f3 c\u00f9ng t\u1ec9 l\u1ec7 l\u1ee3i nhu\u1eadn, \u0111\u1ed9 r\u1ee7i ro v\u00e0 m\u1ee9c t\u0103ng tr\u01b0\u1edfng t\u01b0\u01a1ng t\u1ef1 nh\u01b0 c\u1ed5 phi\u1ebfu m\u00e0 nh\u00e0 \u0111\u1ea7u c\u1ea7n \u0111\u1ecbnh gi\u00e1.\u00a0<\/p>\n

Khi \u0111\u00f3, gi\u00e1 c\u1ee7a c\u1ed5 phi\u1ebfu b\u1eb1ng thu nh\u1eadp c\u1ee7a c\u00f4ng ty c\u1ea7n \u0111\u1ecbnh gi\u00e1 nh\u00e2n v\u1edbi h\u1ec7 s\u1ed1 P\/E b\u00ecnh qu\u00e2n c\u1ee7a ng\u00e0nh ho\u1eb7c h\u1ec7 s\u1ed1 P\/E c\u1ee7a c\u00f4ng ty \u0111\u01b0\u1ee3c l\u1ef1a ch\u1ecdn.<\/p>\n

– X\u00e1c \u0111\u1ecbnh h\u1ec7 s\u1ed1 P\/E n\u1ed9i t\u1ea1i c\u1ee7a ch\u00ednh c\u00f4ng ty \u0111\u00f3.<\/p>\n

Gi\u00e1 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh b\u1eb1ng c\u00e1ch nh\u00e2n h\u1ec7 s\u1ed1 P\/E th\u00f4ng th\u01b0\u1eddng v\u1edbi thu nh\u1eadp c\u1ee7a c\u00f4ng ty (earning per share EPS). \u0110\u1ed1i v\u1edbi c\u00f4ng ty c\u00f3 t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng \u0111\u1ec1u \u0111\u1eb7n, h\u1ec7 s\u1ed1 P\/E h\u1ee3p l\u00ed \u0111\u01b0\u1ee3c t\u00ednh to\u00e1n d\u1ef1a tr\u00ean c\u00f4ng th\u1ee9c t\u01b0\u01a1ng t\u1ef1 nh\u01b0 c\u00f4ng th\u1ee9c t\u00ednh gi\u00e1 c\u1ed5 phi\u1ebfu n\u00eau tr\u00ean:<\/p>\n

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Tuy v\u1eady, th\u1ef1c t\u1ebf khi ti\u1ebfn h\u00e0nh \u0111\u00e1nh gi\u00e1 c\u1ed5 phi\u1ebfu th\u00ec vi\u1ec7c l\u1ef1a ch\u1ecdn h\u1ec7 s\u1ed1 P\/E c\u1ee5 th\u1ec3 kh\u00f4ng \u0111\u01a1n gi\u1ea3n nh\u01b0 hai ph\u01b0\u01a1ng ph\u00e1p tr\u00ean m\u00e0 c\u00f2n ph\u1ea3i c\u0103n c\u1ee9 v\u00e0o xu h\u01b0\u1edbng ph\u00e1t tri\u1ec3n c\u1ee7a to\u00e0n ng\u00e0nh v\u00e0 c\u1ee7a t\u1eebng c\u00f4ng ty c\u1ee5 th\u1ec3. Do v\u1eady, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 k\u1ebft h\u1ee3p c\u1ea3 hai c\u00e1ch tr\u00ean \u0111\u00e2y \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh gi\u00e1 tr\u1ecb c\u1ed5 phi\u1ebfu c\u00f4ng ty.<\/p>\n

\u0110i\u1ec3m h\u1ea1n ch\u1ebf c\u1ee7a vi\u1ec7c s\u1eed d\u1ee5ng h\u1ec7 s\u1ed1 P\/E l\u00e0 n\u00f3 \u0111\u01b0\u1ee3c t\u00ednh d\u1ef1a v\u00e0o l\u1ee3i nhu\u1eadn c\u1ee7a n\u0103m tr\u01b0\u1edbc, do \u0111\u00f3 \u0111\u1ec3 kh\u1eafc ph\u1ee5c ng\u01b0\u1eddi ta s\u1eed d\u1ee5ng h\u1ec7 s\u1ed1 P\/E t\u01b0\u01a1ng lai. Tuy nhi\u00ean, vi\u1ec7c d\u1ef1 \u0111o\u00e1n l\u1ee3i nhu\u1eadn c\u1ee7a n\u0103m t\u1edbi s\u1ebd kh\u00f4ng ho\u00e0n to\u00e0n ch\u00ednh x\u00e1c, v\u00ec v\u1eady, h\u1ec7 s\u1ed1 n\u00e0y ch\u1ec9 \u0111\u01b0\u1ee3c d\u00f9ng \u0111\u1ec3 \u0111o m\u1ee9c gi\u00e1 t\u01b0\u01a1ng \u0111\u1ed1i c\u1ee7a c\u1ed5 phi\u1ebfu.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: Gi\u00e1o tr\u00ecnh Th\u1ecb tr\u01b0\u1eddng Ch\u1ee9ng kho\u00e1n, , NXB T\u00e0i ch\u00ednh)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu theo h\u1ec7 s\u1ed1 gi\u00e1 tr\u00ean thu nh\u1eadp l\u00e0 m\u1ed9t trong nh\u1eefng ph\u01b0\u01a1ng ph\u00e1p ch\u00ednh trong \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu.\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\/31601"}],"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=31601"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31601\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}