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%。
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。
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。
We started by screening for stocks that had a lower price-to-earnings valuation than the S&P 500, which trades at a 17.9 multiple of estimated 2015 earnings. But we didn't stop there.
我们首先筛选了那些市盈率估值低于标普500指数的股票（目前，标普500指数的市盈率为2015年预期收益的17.9倍），但是我们并未止步于此。
We started by screening for stocks that had a lower price-to-earnings valuation than the S&P 500, which trades at a 17.9 multiple of estimated 2015 earnings. But we didn't stop there.
我们首先筛选了那些市盈率估值低于标普500指数的股票（目前，标普500指数的市盈率为2015年预期收益的17.9倍），但是我们并未止步于此。
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