Đánh giá cổ phiếu dựa trên chỉ số nào?

Hai chỉ số quan trọng khi đánh giá một cổ phiếu trên thị trường đó là chỉ số ROE và P/E.

1. Chỉ số ROE

ROE ( Return On Equity ) là tỷ số lợi nhuận ròng trên vốn chủ sở hữu. Giúp đánh giá doanh nghiệp đang kinh doanh lãi hay lỗ. Tỷ lệ ROE càng cao càng chứng tỏ công ty kinh doanh và sử dụng vốn của các nhà đầu tư một cách hiệu quả. Cho nên hệ số ROE càng cao thì càng hấp dẫn các nhà đầu tư.

tính ROE

So sánh với các kênh đầu tư, theo thống kê trong 21 năm qua mức lợi nhuận trung bình hằng năm ( ROE ) của các hình thức đầu tư là:

  • Bất động sản: 12%/năm
  • Cổ phiếu: 16%/năm
  • Trái Phiếu: 9,4%/năm

=>> Mức lợi nhuận trung bình là khoảng 10% =>> Nên chọn các cổ phiếu có chỉ số ROE tối thiểu là 10%

Nếu ROE = 10% cộng thêm lượng cổ tức bằng tiền mặt khoảng 5-10% =>>> mức sinh lời có thể đạt là 15-20%

2. Chỉ số P/E

PE (Price to Earning) là chỉ số đánh giá mối quan hệ giữa giá thị trường của cổ phiếu (Price) và thu nhập trên một cổ phiếu (EPS). Ý nghĩa của chỉ số này thể hiện mức giá mà bạn sẵn sàng bỏ ra cho một đồng lợi nhuận thu được từ cổ phiếu.

chỉ số P/E
  • Giả sử giá thị trường của cổ phiếu VNM là 82.200 đồng,
  • Thu nhập trên mỗi cổ phiếu (EPS) trong năm của công ty này là 5039.57 đồng.
Cách tính P/E

Sẽ có 2 trường hợp cần chú ý khi nhìn vào chỉ số PE

  • TH1: Nếu doanh nghiệp tăng trưởng đột biến có mức lợi nhuận lớn hơn 20%/năm thì không cần xem xét chỉ số PE do doanh nghiệp sẽ được định giá lại do sự tăng trưởng mạnh mẽ.

Như trường hợp mã cổ phiếu L14. Lợi nhuận sau thuế năm 2020 là 34.87 tỷ và năm 2021 là 214.68 tỷ. Tăng gần 700%/năm và PE là 43 nhưng vẫn sẽ có rất nhiều nhà đầu tư quan tâm.

Licogi
  • TH2: Nếu doanh nghiệp kinh doanh ổn định có mức lợi nhuận tăng trưởng đều ở mức 10-20%/năm nên chọn các doanh nghiệp có chỉ số PE < 25.

Tại sao lại lấy nhỏ hơn 25 ?

  1. – PE = 25 là chỉ số trung bình của các thị trường chứng khoán Châu Á và thị trường Mỹ.
  2. – PE của VNINDEX khoảng 16-17 nhưng nếu lấy mức PE này khả năng chúng ta sẽ bỏ qua rất nhiều cơ hội.

Mở tài khoản chứng khoán trong 5 phút

Mở tài khoản chứng khoán online

Đăng ký mở tài khoản chứng khoán với chúng tôi để được đào tạo và hỗ trợ đầu tư từ kiến thức căn bản đến những tip đầu tư hiệu quả. Chúng tôi cập nhập những tin tức thông tin mới nhất hằng ngày giúp khác hàng. Đặc biệt hướng dẫn sử dụng công cụ khuyến nghị FIT giúp mọi nhà đầu tư đều có thể kiếm được lợi nhuận trên thị trường chứng khoán.

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