一個投資人持有ABC公司的股票,投資必要報酬率為15%。預(yù)期ABC公司未來3年股利將高速增長,增長率為20%。在此以后轉(zhuǎn)為正常的增長,增長率為12%。公司最近支付的股利是2元。要求計算該公司股票的內(nèi)在價值。

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于2020-11-22 22:44 發(fā)布 ??12081次瀏覽
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樸老師
職稱: 會計師
2020-11-23 07:40
同學(xué)你好
股票的價值=0.5×(P/F,15%,1)+0.7×(P/F,15%,2)+1×(P/F,15%,3)+1×(1+8%)/(15%-8%)×(P/F,15%,3)=0.5×0.8696+0.7×0.7561+1×0.6575+1×(1+8%)/(15%-8%)×0.6575=11.77(元)
相關(guān)問題討論
同學(xué),你好
股票價值=2*(1?20%)*(P/F,15%,1)? 2*(1?20%)2*(P/F,15%,2)? 2*(1?20%)3*(P/F,15%,3)? 2*(1?20%)3*(1?12%)/(15%-12%) *(P/F,15%,3)
2022-03-27 19:46:52
同學(xué)你好
股票的價值=0.5×(P/F,15%,1)%2B0.7×(P/F,15%,2)%2B1×(P/F,15%,3)%2B1×(1%2B8%)/(15%-8%)×(P/F,15%,3)=0.5×0.8696%2B0.7×0.7561%2B1×0.6575%2B1×(1%2B8%)/(15%-8%)×0.6575=11.77(元)
2020-11-23 07:40:37
1~3年的股利收入現(xiàn)值=2.4×(P/F,15%,1)+2.88×(P/F,15%,2)+3.456×(P/F,15%,3)=6.537(元)
4~∞年的股利收入現(xiàn)值=D4/(K-g)×(P/F,15%,3)=84.833
股票價值=6.537+84.833=91.37(元)
2022-03-18 16:40:48
您好,根據(jù)您的題目,3.5/10%=35
2022-01-03 15:38:01
計算 B 公司股票的價值=2*(1%2B10%)/(1%2B15%)^-1%2B2*(1%2B10%)^2/(1%2B15%)^-2%2B2*(1%2B10%)^3/(1%2B15%)^-3%2B2*(1%2B10%)^3*(1%2B3%)/(15%-3%)/(1%2B15%)^-3=44.53
2022-05-27 10:33:13
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