而且公司收益已经比股价上升要大，因而盈利乘数相比上一次所含泡沫要少。
And corporate profits have risen by more than share prices, so earnings multiples are also less frothy than last time.
增长管理的基本要素有：目标增长率、销售净利率、 资产周转率、权益乘数与留存收益比率。
Enterprise growth management contains five key elements : objective growth rate, net interest rate in sale, property rate of turnover, rights multiple and subsist - profit ratio.
故净资产收益率、销售利润率的变化同CPI、M_1的变化相关性也变得较权益乘数、资产负债率差。
So, compared with the rights multiple and the property liabilities rate, the relativity between the change of rate of earning, the sale profit, and the change of the CPI and the M_1 becomes less.
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