| 单词 | 每股账面净值 |
| 释义 | 每股账面净值 BVPS 英文Book value Per Share的缩写。账面净值(book value)等同於股东权益(shareholders'euqity)，即总资产减去总负债。每股账面净值等於账面净值除以已发行股数。 股价除以每股账面净值即得出股价净值比(price/book ratio)，这是投资者衡量公司资产价值的关键指标。股价净值比若低於1，则代表市场对公司资产的定价低於其重置成本(replacement cost)。若股价净值比远低於1，公司通常会成为收购目标，因为觊觎此公司资产的同业竞争者会考虑收购这家公司的股权以取得资产，而不是自己进行厂房和设备的投资。股价净值比对资本密集型的制造业公司特别有意义。 服务业因固定资产较少，股价净值比通常比较高。 每股账面净值的计算公式：（资产-负债）/已发行的股数 股价净值比的计算公式：股价/每股账面净值。 例子：老洛普公司的总资产和总负债分别为14.07亿英镑和12.60亿英镑，两者的差额为1.47亿英镑，这是老洛普公司的账面净值，也称股东权益。 账面净值=14.07亿英镑-12.60亿英镑=1.47亿英镑 每股账面净值=1.47亿英镑/3.5亿股(已发行股数)=0.42英镑 股价=1.5英镑 股价净值比=1.50/0.42=3.57 参见Assets(资产)。 Synonym: Book value Per Share Book value equals total assets minus total liabilities. Book value per share (BVPS) equals book value divided by the number of shares outstanding. It is the same as shareholders' equity. BVPS is used in the calculation of the price/book ratio (share price divided by BVPS). Price/book is the ultimate measure of how much investors think a company's assets are worth and it equals the share price divided by the BVPS. A price/book ratio should be higher than one; otherwise the market is pricing the assets below their replacement value. Companies with price/book ratios well below one automatically become takeover targets as sector rivals will consider launching a bid for their stock rather than investing in new plant and equipment. Price/book is especially relevant for capital-intensive manufacturing firms. Service industry companies with few fixed assets typically trade at high price/book ratios. |
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