相對

相對PE估價法
使用5年平均PE乘以EPS 得到較為積極的估價方式
1. 首先查詢公司財年結算月份 (有的公司從6月結算 有的公司12月結算)
2.假設公司是12月結算，取12月的最後一個交易日的收盤價。
3. 此收盤價去除以該年EPS總和，即得到該年的PE
4.連續五年的PE平均值，稱作5年平均PE (取得2020,2021,2022,2023,2024的PE，取平均後就是2024年的5年平均PE)
5. 5年平均PE去乘上該年的EPS後，所得到的數值就是相對PE合理價。

相對PB估價法
與上述的方式相同
只有EPS更換為BVPS

以上兩種估價法
都必須要EPS或者是BVPS逐年穩定上升才適用



Relative P/E Valuation Method
Use the 5-year average P/E multiplied by EPS to produce a more aggressive valuation.

First, find the company’s fiscal year-end month (some companies end in June, others in December).

Assuming the company’s fiscal year ends in December, take the closing price on the last trading day of December.

Divide that closing price by the annual EPS for that fiscal year to get that year’s P/E.

Average the P/Es for five consecutive years to get the 5-year average P/E (take the P/Es for 2020, 2021, 2022, 2023, 2024 and average them — this produces the 5-year average P/E as of 2024).

Multiply the 5-year average P/E by the EPS of the target year — the result is the relative P/E fair value.

Relative P/B Valuation Method
Same procedure as above, but replace EPS with BVPS (book value per share).

Applicability
Both methods are appropriate only when EPS (for the P/E method) or BVPS (for the P/B method) have been steadily increasing year over year.