One fix is to take an average of many years of trailing earnings.

一个补救方法是利用过去多年收益的平均值。

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The IPO index is priced at 19.5 times trailing earnings, compared with 21.4 times for the S&P.

IPO指数的往绩市盈率为19.5倍，而标准普尔指数为21.4倍。

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The MSCI emerging markets index, however, is currently on a trailing earnings multiple of 11.15 times against an average of 14.53 times over the past four years.

但就摩根士丹利资本国际新兴市场指数（MSCI Emerging Market index）而言，其历史市盈率目前为11.15倍，而过去4年的平均市盈率则为14.53倍。

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Professor Shiller, in his books, he's got current multiple of trailing ten-year earnings.

席勒教授在他的书里，讲到他已经获得了比过去十年多几倍的现金收入。

耶鲁公开课 - 金融市场课程节选

The company is trading cheaply at 1.2 times tangible book and 7 times trailing earnings.

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In love with this success story, Wall Street values Danaher at 24 times trailing earnings.

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For all its rise, his own stock is trading at only 16 times trailing earnings.

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