A widely used tool in fundamental analysis is the price-earnings ratio or PE ratio.
本益比是基础分析中最常用的比例，计算方式是股价除每股盈利。
The average price-earnings ratio then was 22.7-indicating that investors expected rapid future growth.
当时的市盈率为22.7，表明投资者预期未来增长会很快。
In addition, the bull market has lasted since 2009 and price-earnings ratios exceed long-run averages.
除此之外，牛市自2009年以来就一直在延续，市盈率超过了长期平均值。
With the notable exception of China, price-earnings ratios in East Asia remain below those in developed markets.
如果把中国这个引人注目的例外排除，东亚的价格收入比率始终都低于发达的国家。
It is based on what you have learned about price-earnings ratios and the present value of growth opportunities.
它是基于你已经学习的关于市盈率和增长机会的现值的。
Equity valuations, as measured by the price-earnings ratio, tend to be highest when inflation is low and stable.
当通胀低而平稳时，股票价值，按收益率计算的话，通常最高。
In practical terms, this means they stand at an average 20% discount to the market's prospective price-earnings ratio.
具体点说，这里指的是就市场预期的市盈率而言它们平均要低上20个百分点。
The question is important because of the measure that investors rely on to assess market valuations: the price-earnings ratio.
这个问题很重要是因为投资者所依赖评价市场价值的方法：价格同利润比。
The industry's giants trade on a discounted price-earnings multiple, reflecting fears that the days of blockbuster drugs are over.
医药产业巨头将市场盈利率加倍，然后打折出售，这表明他们担心药物风靡的时代已经完结。
You may think that serenely stable share price suggests Goldman is a safe haven; its low price-earnings ratio tells a different story.
你也许以为，平稳的股价表明高盛是安全的避风港。但是从它的低市盈率可以看出不同的端倪。
The CHART of the DAY displays the price-earnings ratio for MSCI Inc. 's World Index, a gauge of developed markets, for the past 14 years.
今日图表选取的是一张比较能反映全球成熟市场的MSCI全球指数14年来的市盈率曲线。
European equities, which have on average underperformed American ones, look more attractive: the price-earnings ratio in the euro zone is 11.
欧洲的股票，平均表现逊于美国市场，但看起来更加有活力：欧元区股票市盈率为11。
The classic measure of whether the stock market is overvalued is the price-earnings ratio, which divides stock prices by annual corporate earnings.
对于股市是否高估，最经典的一个测量指标就是市盈率(price - earningsratio)，即用股票价格除以公司的年收益。
The index declined 0.2 percent in the last trading session before the Christmas holiday after its price-earnings multiple rose to a six-month high.
圣诞假期前，标准普尔500指数在最后一个交易日下跌0.2%，该指数市盈率升至六个月来新高。
Here is the price-earnings ratio for the U.S. stock market from 1881 to the present — this is also on that spreadsheet that you have on the website.
这是美国股票市场的市盈率，从1881年至今，这份数据也在网站上的电子数据表上。
Even after their tumble, the aggregate price-earnings ratio is in line with developed markets, rather than at the discount that has been the historical norm.
即便经过暴跌，其总体市盈率也只不过接近发达国家，而不是在其历史水平上进一步低估。
The company’s valuation is likely to be well under 15 times earnings for a company with strong growth potential (China Life has a price-earnings ratio of 24).
作为一家有很好的增长潜力的公司，友邦此次的市盈率可能还不到15倍（中国人寿的市盈率为24倍）。
Measures of stockmarket valuation, such as price-earnings ratios, never recovered to the peak levels of 2000, even when share prices were rising during 2003-07.
股市的估值标准，如市盈率，一直未能恢复到2000年的最高水平，即使股价曾在2003-2007年间持续上涨。
In a mature stock market of foreign countries, the price-earnings ratio approach and price-sales ratio approach are used to assess the value of stocks in common.
市盈率估值法和市销率估值法是国外成熟的证券市场上常用的股票投资价值的评估方法，但他们作为单一指标具有一定的局限性。
The best measure of investor confidence is the price-earnings ratio - the price that investors are willing to pay for each dollar of a company's reported earnings.
投资者信心最好的指标是市盈率——投资者为某公司每一账面盈利所愿支付的价。
Measuring the price-earnings ratio of share is important for determining the expected holding-period return which can be used as a basis for valuing any portfolio.
测算市盈率对于确定证券组合预期的持有期收益率非常重要，这正是估价任何证券组合的基础。
On the best long-term measure, the cyclically adjusted price-earnings ratio, Wall Street looks overvalued on a multiple of 21.9, some 33% above the historic average.
用最好的衡量长期收益的工具——周期性调整市盈率——衡量，华尔街金融市场的溢价为21.9倍，高于历史均值大约33%。
A recent analysis shows that, when American price-earnings ratios are low, returns on equities over the next decade average 8%; when they are high, returns average 3%.
最近一份分析显示，当美国市盈率处于低位时，未来10年股票的平均收益率超过8%；当市盈率高时，收益率平均为3%。
They should, of course, have got out in 2000, when the global price-earnings ratio was 35; shares look relatively much more attractive now, since the ratio is down to ten.
他们当然应该在2000年离场，当时全球市盈率是35倍；如今的股价看起来反而更有吸引力了，因为市盈率已经降到了10倍。
He points out that American equities are significantly overvalued on the best long-term measure, the cyclically adjusted price-earnings ratio which smooths profits over ten years.
他指出最优的长期预测工具，周期调整市盈率由于将过去十年间的利润进行了平滑，现在已显著高估了美国股票的价格。
And valuations are not yet at fire-sale levels; the cyclically adjusted price-earnings ratio of the American market is 14.5, compared with previous bear-market lows in single digits.
对其的估价也还未到甩卖的地步。与之前个位数的熊市相比，现在美国市场周期性调整的市盈率是14.5。
And valuations are not yet at fire-sale levels; the cyclically adjusted price-earnings ratio of the American market is 14.5, compared with previous bear-market lows in single digits.
对其的估价也还未到甩卖的地步。与之前个位数的熊市相比，现在美国市场周期性调整的市盈率是14.5。
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