Ghi ch\u00fa: T\u00e0i li\u1ec7u tr\u00edch d\u1eabn<\/p>\n\n\n\n
Earning per share l\u00e0 m\u1ed9t trong nh\u1eefng ch\u1ec9 s\u1ed1 quan tr\u1ecdng trong \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n. Nh\u01b0ng earning per share l\u00e0 g\u00ec? b\u1ea3n ch\u1ea5t th\u1eadt c\u1ee7a ch\u00fang th\u00ec kh\u00f4ng ph\u1ea3i nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00e0o c\u0169ng n\u1eafm r\u00f5. V\u1eady n\u00ean, Vietlearn.com s\u1ebd gi\u00fap b\u1ea1n t\u00ecm hi\u1ec3u c\u00e1c th\u00f4ng tin quan tr\u1ecdng v\u1ec1 ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh n\u00e0y, d\u01b0\u1edbi \u0111\u00e2y l\u00e0 n\u1ed9i dung chi ti\u1ebft.<\/p>\n\n\n\n
Earning per share \u0111\u01b0\u1ee3c vi\u1ebft t\u1eaft l\u00e0 EPS. \u0110\u00e2y l\u00e0 t\u1ec9 s\u1ed1 \u0111\u01b0\u1ee3c t\u00ednh theo ph\u1ea7n tr\u0103m c\u1ee7a thu nh\u1eadp t\u1eeb c\u00e1c c\u1ed5 ph\u1ea7n. Kh\u00e1i ni\u1ec7m ch\u1ec9 s\u1ed1 eps l\u00e0 g\u00ec c\u00f2n \u0111\u01b0\u1ee3c hi\u1ec3u m\u1ed9t c\u00e1ch \u0111\u01a1n gi\u1ea3n l\u00e0 s\u1ed1 ti\u1ec1n l\u00e3i m\u00e0 ng\u01b0\u1eddi ch\u01a1i c\u1ed5 phi\u1ebfu nh\u1eadn \u0111\u01b0\u1ee3c t\u1eeb kho\u1ea3n v\u1ed1n c\u1ed5 phi\u1ebfu m\u00e0 h\u1ecd \u0111\u00e3 \u0111\u1ea7u t\u01b0 t\u1eeb ban \u0111\u1ea7u. V\u1eady n\u00ean, EPS \u0111\u01b0\u1ee3c coi l\u00e0 th\u00f4ng s\u1ed1 \u0111\u1ec3 l\u00e0m r\u00f5 n\u0103ng l\u1ef1c l\u1ee3i nhu\u1eadn c\u1ee7a doanh nghi\u1ec7p.<\/p>\n\n\n\n
Earning per share l\u00e0 ph\u1ea7n t\u00e0i ch\u00ednh c\u1ee7a ch\u1ee7 doanh nghi\u1ec7p nh\u1eadn \u0111\u01b0\u1ee3c khi \u0111\u1ea7u t\u01b0 v\u00e0 chia \u0111\u1ec1u cho c\u1ed5 phi\u1ebfu \u0111ang ph\u00e1t h\u00e0nh. V\u00ed d\u1ee5 nh\u01b0 c\u00f4ng ty A c\u00f3 2 tri\u1ec7u c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng ngh\u0129a l\u00e0 s\u1ed1 ti\u1ec1n nh\u1eadn \u0111\u01b0\u1ee3c sau khi tr\u1eeb thu\u1ebf m\u00e0 c\u00f4ng ty s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c l\u00e0 2 tri\u1ec7u, s\u1ed1 ti\u1ec1n l\u00e3i tr\u00ean m\u1ed7i c\u1ed5 phi\u1ebfu l\u00e0 2 USD.<\/p>\n\n\n\n
Ch\u1ec9 s\u1ed1 EPS bao g\u1ed3m 2 lo\u1ea1i \u0111\u00f3 ch\u00ednh l\u00e0 EPS c\u01a1 b\u1ea3n (basic EPS) v\u00e0 EPS pha lo\u00e3ng (Diluted EPS).<\/p>\n\n\n\n
EPS c\u01a1 b\u1ea3n (basic EPS) l\u00e0 g\u00ec?<\/p>\n\n\n\n
EPS c\u01a1 b\u1ea3n l\u00e0 l\u1ee3i nhu\u1eadn tr\u00ean 1 c\u1ed5 phi\u1ebfu.<\/p>\n\n\n\n
EPS c\u01a1 b\u1ea3n ph\u1ed5 bi\u1ebfn h\u01a1n so v\u1edbi EPS pha lo\u00e3ng.<\/p>\n\n\n\n
EPS \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00f4ng th\u1ee9c: EPS = (Thu nh\u1eadp r\u00f2ng- c\u1ed5 t\u1ee9c c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i)\/ s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu b\u00ecnh qu\u00e2n \u0111ang l\u01b0u h\u00e0nh.<\/p>\n\n\n\n
EPS pha lo\u00e3ng (Diluted EPS).<\/p>\n\n\n\n
L\u00e0 kho\u1ea3n l\u1ee3i nhu\u1eadn suy gi\u1ea3m tr\u00ean 1 c\u1ed5 phi\u1ebfu. EPS pha lo\u00e3ng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng trong tr\u01b0\u1eddng h\u1ee3p doanh nghi\u1ec7p ph\u00e1t h\u00e0nh th\u00eam c\u00e1c tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i, c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i, c\u1ed5 phi\u1ebfu ph\u00e1t h\u00e0nh th\u00eam.<\/p>\n\n\n\n
Ch\u1ec9 s\u1ed1 EPS c\u1ee7a doanh nghi\u1ec7p s\u1ebd thay \u0111\u1ed5i, do s\u1ef1 gia t\u0103ng s\u1ed1 l\u01b0\u1ee3ng c\u1ee7a c\u1ed5 phi\u1ebfu th\u01b0\u1eddng m\u00e0 kh\u00f4ng c\u1ea7n c\u00f3 th\u00eam ngu\u1ed3n ti\u1ec1n ch\u1ea3y v\u00e0o; l\u00e0m gi\u1ea3m thu nh\u1eadp c\u1ee7a m\u1ed7i c\u1ed5 phi\u1ebfu.<\/p>\n\n\n\n
EPS pha lo\u00e3ng \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00f4ng th\u1ee9c: (L\u1ee3i nhu\u1eadn r\u00f2ng-c\u1ed5 t\u1ee9c c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i)\/ (l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh + l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu s\u1ebd \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i).<\/p>\n\n\n\n
N\u1ebfu nh\u01b0 nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ec9 quan t\u00e2m t\u1edbi ch\u1ec9 s\u1ed1 EPS c\u01a1 b\u1ea3n m\u00e0 b\u1ecf qua y\u1ebfu t\u1ed1 d\u1ef1 \u0111o\u00e1n EPS trong t\u01b0\u01a1ng lai, c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn m\u1ed9t s\u1ed1 sai l\u1ea7m. Ch\u00ednh v\u00ec th\u1ebf, b\u00e1o c\u00e1o k\u1ebft qu\u1ea3 c\u1ee7a c\u00f4ng ty ph\u1ea3i bao g\u1ed3m EPS c\u01a1 b\u1ea3n v\u00e0 EPS pha lo\u00e3ng.<\/p>\n\n\n\n
C\u00f4ng th\u1ee9c t\u00ednh EPS trong b\u00e1o c\u00e1o t\u00e0i ch\u00ednh<\/p>\n\n\n\n
C\u00e1ch t\u00ednh EPS v\u00f4 c\u00f9ng \u0111\u01a1n gi\u1ea3n \u0111\u00f3 l\u00e0:<\/p>\n\n\n\n
EPS = (Thu nh\u1eadp r\u00f2ng- c\u1ed5 t\u1ee9c c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i) \/ s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu b\u00ecnh qu\u00e2n \u0111ang l\u01b0u h\u00e0nh.<\/p>\n\n\n\n
Trong \u0111\u00f3:<\/p>\n\n\n\n
Thu nh\u1eadp r\u00f2ng (l\u1ee3i nhu\u1eadn r\u00f2ng) ch\u00ednh l\u00e0 t\u1ed5ng thu nh\u1eadp c\u1ee7a m\u1ed9t doanh nghi\u1ec7p. Ch\u00fang \u0111\u01b0\u1ee3c t\u00ednh t\u1eeb t\u1ed5ng thu nh\u1eadp c\u1ee7a doanh nghi\u1ec7p c\u00f3 \u0111i\u1ec1u ch\u1ec9nh, th\u00eam c\u00e1c kho\u1ea3n chi ph\u00ed ho\u1ea1t \u0111\u1ed9ng, thu\u1ebf, kh\u1ea5u hao hay l\u00e3i su\u1ea5t v\u00e0 c\u00e1c kho\u1ea3n chi ph\u00ed kh\u00e1c li\u00ean quan \u0111\u1ebfn ho\u1ea1t \u0111\u1ed9ng kinh doanh.<\/p>\n\n\n\n
C\u00f4ng th\u1ee9c t\u00ednh thu nh\u1eadp r\u00f2ng= doanh thu thu\u1ea7n + l\u1ee3i nhu\u1eadn thu\u1ea7n t\u1eeb ho\u1ea1t \u0111\u1ed9ng t\u00e0i ch\u00ednh + c\u00e1c kho\u1ea3n thu nh\u1eadp b\u1ea5t th\u01b0\u1eddng kh\u00e1c \u2013 gi\u00e1 v\u1ed1n b\u00e1n h\u00e0ng- chi ph\u00ed- thu\u1ebf thu nh\u1eadp doanh nghi\u1ec7p.<\/p>\n\n\n\n
C\u1ed5 t\u1ee9c c\u1ed5 phi\u1ebfu l\u00e0 ph\u1ea7n l\u1ee3i nhu\u1eadn thu \u0111\u01b0\u1ee3c t\u1eeb c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i, \u0111\u01b0\u1ee3c \u1ea5n \u0111\u1ecbnh theo m\u1ed9t t\u1ef7 l\u1ec7 c\u1ed1 \u0111\u1ecbnh c\u00f3 tr\u00ean m\u1ec7nh gi\u00e1.<\/p>\n\n\n\n
\u0110\u1ec3 gi\u00fap b\u1ea1n hi\u1ec3u r\u00f5 h\u01a1n ch\u00fang t\u00f4i s\u1ebd l\u1ea5y v\u00ed d\u1ee5 gi\u00fap b\u1ea1n. Vietlearn.org l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu c\u1ee7a CTCP s\u1eefa Vi\u1ec7t Nam (VNM) v\u00e0 CTCP c\u1ee7a Th\u00e9p H\u00f2a Ph\u00e1t (HPG) nh\u01b0 sau:<\/p>\n\n\n\n
C\u1ed5 phi\u1ebfu L\u1ee3i nhu\u1eadn sau thu\u1ebf C\u1ed5 t\u1ee9c \u01b0u \u0111\u00e3i KLCP b\u00ecnh qu\u00e2n EPS c\u01a1 b\u1ea3n<\/p>\n\n\n\n
VNM 10.295 785 1,741 (10.295 \u2013 785)\/1,741=5463,4<\/p>\n\n\n\n
HPG 8.015 0 2,124 8.015\/2,124=3773,5<\/p>\n\n\n\n
C\u1ed5 phi\u1ebfu VNM l\u1ee3i nhu\u1eadn sau thu\u1ebf 4 qu\u00fd g\u1ea7n nh\u1ea5t s\u1ebd \u0111\u1ea1t 10.295 t\u1ef7 \u0111\u1ed3ng v\u00e0 kh\u1ed1i l\u01b0\u1ee3ng c\u1ee7a c\u1ed5 phi\u1ebfu b\u00ecnh qu\u00e2n \u0111ang l\u01b0u h\u00e0nh s\u1ebd l\u00e0 1,741 t\u1ef7 c\u1ed5 phi\u1ebfu. Trong k\u1ef3, VNM s\u1eed s\u1ebd d\u1ee5ng 785 t\u1ef7 \u0111\u1ed3ng tr\u1ea3 c\u1ed5 t\u1ee9c \u01b0u \u0111\u00e3i.<\/p>\n\n\n\n
V\u00e0 ch\u1ec9 s\u1ed1 EPS c\u01a1 b\u1ea3n c\u1ee7a VNM = (10.295 \u2013 785)\/1,741=5,463.4 (\u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu).<\/p>\n\n\n\n
T\u01b0\u01a1ng t\u1ef1 nh\u01b0 v\u1eady, EPS c\u1ee7a HPG \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng 8.015\/2,124=3773,5 (\u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu).<\/p>\n\n\n\n
Vi\u1ec7c t\u00ednh ch\u1ec9 s\u1ed1 EPS kh\u00e1 \u0111\u01a1n gi\u1ea3n nh\u01b0ng l\u00e0 \u0111i\u1ec1u quan tr\u1ecdng m\u00e0 b\u1ea1n c\u1ea7n ph\u1ea3i n\u1eafm ch\u1eafc \u00fd ngh\u0129a v\u00e0 c\u00e1ch s\u1eed d\u1ee5ng.<\/p>\n\n\n\n
L\u1ee3i \u00edch c\u1ee7a vi\u1ec7c t\u00ednh earning per share formula<\/p>\n\n\n\n
EPS l\u00e0 ch\u1ec9 s\u1ed1 t\u1ed5ng h\u1ee3p, ph\u1ea3n \u00e1nh k\u1ebft qu\u1ea3 kinh doanh c\u1ee7a m\u1ed9t doanh nghi\u1ec7p gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 d\u1ec5 d\u00e0ng hi\u1ec3u v\u00e0 so s\u00e1nh gi\u1eefa c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu kh\u00e1c nhau.<\/p>\n\n\n\n
Ch\u1ec9 s\u1ed1 EPS c\u00f2n \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 t\u00ednh c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh quan tr\u1ecdng kh\u00e1c nh\u01b0 ch\u1ec9 s\u1ed1 P\/E trong tr\u01b0\u1eddng h\u1ee3p c\u00f4ng ty c\u1ed5 ph\u1ea7n kh\u00f4ng c\u00f3 c\u1ed5 ph\u1ea7n \u01b0u \u0111\u00e3i hay ch\u1ec9 s\u1ed1 ROE \u2013 ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh \u0111\u1ec3 \u0111o kh\u1ea3 n\u0103ng sinh l\u1ee3i tr\u00ean s\u1ed1 v\u1ed1n c\u1ed5 ph\u1ea7n c\u1ee7a c\u00f4ng ty c\u1ed5 ph\u1ea7n.<\/p>\n\n\n\n
C\u00f4ng th\u1ee9c t\u00ednh ch\u1ec9 s\u1ed1 ROE s\u1ebd l\u00e0 ROE = EPS\/ V\u1ed1n \u0111i\u1ec1u l\u1ec7 c\u00f4ng ty.<\/p>\n\n\n\n
Earning per share c\u00f2n \u0111\u01b0\u1ee3c d\u00f9ng \u0111\u1ec3 so s\u00e1nh k\u1ebft qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng c\u1ee7a doanh nghi\u1ec7p v\u1edbi nhau.<\/p>\n\n\n\n
B\u00ean c\u1ea1nh \u0111\u00f3, c\u00e1c doanh nghi\u1ec7p c\u00f3 th\u1ec3 l\u1ee3i d\u1ee5ng c\u00e1c k\u1ef9 thu\u1eadt t\u00ednh to\u00e1n \u0111\u1ec3 \u0111\u01b0a ra ch\u1ec9 s\u1ed1 EPS h\u1ea5p d\u1eabn \u0111\u1ea3m b\u1ea3o \u0111\u1ecbnh h\u01b0\u1edbng \u0111\u1ea7u t\u01b0 \u0111\u00fang \u0111\u1eafn. Tuy nhi\u00ean, c\u00e1c doanh nghi\u1ec7p kh\u00f4ng n\u00ean d\u1ef1a v\u00e0o m\u1ed9t th\u01b0\u1edbc \u0111o t\u00e0i ch\u00ednh duy nh\u1ea5t m\u00e0 n\u00ean k\u1ebft h\u1ee3p v\u1edbi c\u00e1c b\u1ea3n ph\u00e2n t\u00edch t\u00e0i ch\u00ednh, ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh kh\u00e1c c\u1ee7a doanh nghi\u1ec7p.<\/p>\n\n\n\n
EPS l\u00e0 ch\u1ec9 s\u1ed1 quan tr\u1ecdng trong ho\u1ea1t \u0111\u1ed9ng \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu v\u00e0 c\u1ea5u th\u00e0nh n\u00ean ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1 P\/E. \u0110\u1ed3ng th\u1eddi \u0111\u00e2y c\u0169ng ch\u00ednh l\u00e0 ti\u00eau ch\u00ed \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 ch\u1ea5t l\u01b0\u1ee3ng t\u0103ng tr\u01b0\u1edfng c\u1ee7a doanh nghi\u1ec7p th\u00f4ng qua c\u00e1c th\u1eddi k\u1ef3<\/p>\n\n\n\n
X\u00e1c \u0111\u1ecbnh ch\u1ec9 s\u1ed1 P\/E trong ho\u1ea1t \u0111\u1ed9ng \u0111\u1ecbnh gi\u00e1<\/p>\n\n\n\n
Nh\u01b0 \u0111\u00e3 n\u00f3i \u1edf tr\u00ean th\u00ec EPS l\u00e0 th\u00e0nh ph\u1ea7n ch\u00ednh t\u1ea1o n\u00ean ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1 P\/E, E trong P\/E \u0111\u01b0\u1ee3c hi\u1ec3u l\u00e0 EPS. B\u1eb1ng c\u00e1ch chia gi\u00e1 m\u1ed9t c\u1ed5 ph\u1ea7n c\u1ee7a c\u00f4ng ty cho EPS, m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 th\u1ea5y \u0111\u01b0\u1ee3c gi\u00e1 tr\u1ecb c\u1ee7a m\u1ed9t c\u1ed5 phi\u1ebfu qua c\u00e1c th\u1eddi k\u1ef3, t\u1eeb \u0111\u00f3 bi\u1ebft \u0111\u01b0\u1ee3c th\u1ecb tr\u01b0\u1eddng s\u1eb5n s\u00e0ng tr\u1ea3 cho c\u1ed5 phi\u1ebfu m\u1ee9c \u0111\u1ecbnh gi\u00e1 l\u00e0 bao nhi\u00eau.<\/p>\n\n\n\n
\u0110\u00e1nh gi\u00e1 ch\u1ea5t l\u01b0\u1ee3ng t\u0103ng tr\u01b0\u1edfng qua c\u00e1c th\u1eddi k\u1ef3<\/p>\n\n\n\n
\u0110\u1ec3 l\u00e0m \u0111\u01b0\u1ee3c \u0111i\u1ec1u n\u00e0y tr\u01b0\u1edbc h\u1ebft b\u1ea1n c\u1ea7n ph\u1ea3i x\u00e1c \u0111\u1ecbnh \u0111\u01b0\u1ee3c t\u1ef7 l\u1ec7 t\u0103ng thu nh\u1eadp tr\u00ean c\u1ed5 phi\u1ebfu EPS Growth Rate % = (EPS1 \u2013 EPS0)\/EPS0<\/p>\n\n\n\n
T\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng thu nh\u1eadp tr\u00ean c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng trong \u0111\u00e1nh gi\u00e1 cao c\u1ee7a doanh nghi\u1ec7p. T\u1ef7 l\u1ec7 n\u00e0y cao th\u00ec doanh nghi\u1ec7p \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 cao v\u00e0 ng\u01b0\u1ee3c l\u1ea1i. T\u00f9y thu\u1ed9c v\u00e0o xu h\u01b0\u1edbng v\u00e0 m\u1ee9c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 l\u00e0 b\u1ec1n v\u1eefng, kh\u00f4ng \u1ed5n \u0111\u1ecbnh hay tu\u1ed9t d\u1ed1c,\u2026C\u00e1c doanh nghi\u1ec7p c\u00f3 m\u1ee9c t\u0103ng tr\u01b0\u1edfng thu nh\u1eadp tr\u00ean c\u1ed5 phi\u1ebfu \u1ed5n \u0111\u1ecbnh \u1edf m\u1ee9c cao lu\u00f4n \u0111\u01b0\u1ee3c c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 quan t\u00e2m.<\/p>\n\n\n\n
\u0110i\u1ec1u ch\u1ec9nh EPS nh\u01b0 th\u1ebf n\u00e0o khi c\u00f3 d\u1ea5u hi\u1ec7u b\u00f3p m\u00e9o?<\/p>\n\n\n\n
Do t\u00ednh ph\u1ed5 bi\u1ebfn c\u1ee7a ch\u1ec9 s\u1ed1 EPS m\u00e0 nhi\u1ec1u doanh nghi\u1ec7p \u0111\u00e3 l\u1ee3i d\u1ee5ng c\u00e1c th\u1ee7 thu\u1eadt t\u00e0i ch\u00ednh \u0111\u1ec3 th\u1ed5i ph\u1ed3ng l\u1ee3i nhu\u1eadn v\u00e0 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn c\u00e1c ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1. \u0110\u1ec3 gi\u00fap ng\u01b0\u1eddi d\u00f9ng d\u1ec5 d\u00e0ng nh\u1eadn bi\u1ebft v\u00e0 \u0111i\u1ec1u ch\u1ec9nh EPS ph\u00f9 h\u1ee3p ch\u00fang t\u00f4i s\u1ebd \u0111\u01b0a ra 2 tr\u01b0\u1eddng h\u1ee3p \u0111i\u1ec3n h\u00ecnh \u0111\u00f3 l\u00e0:<\/p>\n\n\n\n
EPS kh\u00f4ng bao g\u1ed3m c\u00e1c kho\u1ea3n m\u1ee5c b\u1ea5t th\u01b0\u1eddng<\/p>\n\n\n\n
B\u1ea1n th\u1eed t\u01b0\u1edfng t\u01b0\u1ee3ng, m\u1ed9t c\u00f4ng ty \u0111ang s\u1edf h\u1eefu 4% c\u1ed5 ph\u1ea7n t\u1ea1i m\u1ed9t c\u00f4ng ty kh\u00e1c, gi\u00e1 c\u1ed5 phi\u1ebfu t\u0103ng l\u00ean 200% so v\u1edbi th\u1eddi \u0111i\u1ec3m mua v\u00e0o. L\u00e3nh \u0111\u1ea1o c\u00f4ng ty quy\u1ebft \u0111\u1ecbnh b\u00e1n to\u00e0n b\u1ed9 \u0111\u1ec3 \u0111em v\u1ec1 m\u1ed9t kho\u1ea3n thu nh\u1eadp l\u1edbn cho doanh nghi\u1ec7p.<\/p>\n\n\n\n
M\u1eb7c d\u00f9 kho\u1ea3n thu n\u00e0y \u0111\u01b0\u1ee3c coi l\u00e0 b\u1ea5t th\u01b0\u1eddng nh\u01b0ng kh\u00f4ng c\u00f3 g\u00ec \u0111\u1ea3m b\u1ea3o r\u1eb1ng c\u00f4ng ty s\u1ebd c\u00f3 m\u1ed9t kho\u1ea3n thu nh\u1eadp nh\u01b0 v\u1eady trong t\u01b0\u01a1ng lai. V\u1eady n\u00ean c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n ph\u1ea3i th\u1eadn tr\u1ecdng, lo\u1ea1i b\u1ecf c\u00e1c kho\u1ea3n thu nh\u1eadp b\u1ea5t th\u01b0\u1eddng khi t\u00ednh to\u00e0n c\u00e1c ch\u1ec9 s\u1ed1 earning per share. L\u00fac n\u00e0y ch\u1ec9 s\u1ed1 EPS \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00f4ng th\u1ee9c:<\/p>\n\n\n\n
EPS = L\u1ee3i nhu\u1eadn sau thu\u1ebf \u2013 c\u1ed5 t\u1ee9c \u01b0u \u0111\u00e3i (+, -) kho\u1ea3n m\u1ee5c b\u1ea5t th\u01b0\u1eddng\/L\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu b\u00ecnh qu\u00e2n \u0111ang l\u01b0u h\u00e0nh<\/p>\n\n\n\n
EPS bao g\u1ed3m thu nh\u1eadp t\u1eeb ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ed1t l\u00f5i ti\u1ebfp di\u1ec5n<\/p>\n\n\n\n
V\u00ed d\u1ee5 b\u1ea1n \u0111ang s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu c\u1ee7a m\u1ed9t doanh nghi\u1ec7p b\u00e1n l\u1ebb v\u1edbi chu\u1ed7i c\u1eeda h\u00e0ng r\u1ed9ng 1500 \u0111i\u1ec3m v\u1edbi earning per share l\u00e0 5.500 \u0111\u1ed3ng. Th\u1ebf nh\u01b0ng th\u1ecb tr\u01b0\u1eddng b\u00e1n l\u1ebb b\u1eaft \u0111\u1ea7u c\u00f3 nh\u1eefng d\u1ea5u hi\u1ec7u b\u00e3o h\u00f2a v\u00e0 \u1ea3nh h\u01b0\u1edfng t\u1edbi b\u1ee9c tranh th\u01b0\u01a1ng m\u1ea1i \u0111i\u1ec7n t\u1eed.<\/p>\n\n\n\n
\u0110\u1ec3 ti\u1ebft gi\u1ea3m chi ph\u00ed, l\u00e3nh \u0111\u1ea1o c\u00f4ng ty \u0111\u00e3 \u0111\u00f3ng c\u1eeda 300 c\u1eeda h\u00e0ng thua l\u1ed7 v\u00e0 b\u00e1n l\u1ea1i m\u1eb7t b\u1eb1ng cho m\u1ed9t s\u1ed1 \u0111\u1ed1i t\u00e1c. V\u1ec1 m\u1eb7t l\u00fd thuy\u1ebft EPS t\u0103ng t\u1eeb 5.500 l\u00ean 6.800 \u0111\u1ed3ng. Tuy nhi\u00ean c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n ph\u1ea3i l\u01b0u \u00fd 2 \u0111i\u1ec3m \u0111\u00f3 l\u00e0:<\/p>\n\n\n\n
\u0110\u00e2y l\u00e0 kho\u1ea3n thu b\u1ea5t th\u01b0\u1eddng kh\u00f4ng \u0111\u1ebfn t\u1eeb ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ed1t l\u00f5i<\/p>\n\n\n\n
Doanh nghi\u1ec7p ch\u1ec9 ho\u1ea1t \u0111\u1ed9ng v\u1edbi 1.200 c\u1ee7a h\u00e0ng trong c\u00e1c th\u1eddi k\u1ef3.<\/p>\n\n\n\n
Vi\u1ec7c t\u00ednh EPS s\u1ebd \u00e1p d\u1ee5ng theo c\u00f4ng th\u1ee9c sau:<\/p>\n\n\n\n
EPS = L\u1ee3i nhu\u1eadn sau thu\u1ebf \u2013 c\u1ed5 t\u1ee9c \u01b0u \u0111\u00e3i (+, -) kho\u1ea3n m\u1ee5c b\u1ea5t th\u01b0\u1eddng (+, -) ho\u1ea1t \u0111\u1ed9ng kinh doanh kh\u00f4ng c\u00f2n ti\u1ebfp di\u1ec5n\/L\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu b\u00ecnh qu\u00e2n \u0111ang l\u01b0u h\u00e0nh<\/p>\n\n\n\n
Ch\u1ec9 s\u1ed1 EPS \u0111\u01b0\u1ee3c coi l\u00e0 m\u1ed9t bi\u1ebfn s\u1ed1 quan tr\u1ecdng nh\u1ea5t trong vi\u1ec7c t\u00ednh to\u00e1n gi\u00e1 c\u1ed5 phi\u1ebfu. \u0110\u00e2y l\u00e0 b\u1ed9 ph\u1eadn ch\u1ee7 y\u1ebfu c\u1ea5u th\u00e0nh n\u00ean ch\u1ec9 s\u1ed1 P\/E (h\u1ec7 s\u1ed1 gi\u00e1 tr\u00ean thu nh\u1eadp). E trong P\/E ch\u00ednh l\u00e0 EPS. H\u1ec7 s\u1ed1 P\/E gi\u1eef vai tr\u00f2 quan tr\u1ecdng trong vi\u1ec7c ph\u00e2n t\u00edch \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0. Thu nh\u1eadp t\u1eeb c\u1ed5 phi\u1ebfu s\u1ebd c\u00f3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 c\u1ea3 tr\u00ean th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u00f3 P\/E=P\/EPS.<\/p>\n\n\n\n
Trong \u0111\u00f3:<\/p>\n\n\n\n
P (Market Price) gi\u00e1 th\u1ecb tr\u01b0\u1eddng<\/p>\n\n\n\n
EPS (Earning Per Share) thu nh\u1eadp c\u1ee7a m\u1ed7i c\u1ed5 phi\u1ebfu<\/p>\n\n\n\n
Nh\u01b0 v\u1eady, h\u1ec7 s\u1ed1 P\/E cho th\u1ea5y gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i c\u1ee7a c\u1ed5 phi\u1ebfu cao h\u01a1n m\u1ee9c thu nh\u1eadp t\u1eeb c\u1ed5 phi\u1ebfu \u0111\u00f3 bao nhi\u00eau l\u1ea7n.<\/p>\n\n\n\n
M\u1ed9t s\u1ed1 l\u01b0u \u00fd khi t\u00ednh to\u00e1n ch\u1ec9 s\u1ed1 EPS<\/p>\n\n\n\n
Trong qu\u00e1 tr\u00ecnh t\u00ednh to\u00e1n ch\u1ec9 s\u1ed1 EPS, n\u1ebfu s\u1eed d\u1ee5ng l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu l\u01b0u h\u00e0nh b\u00ecnh qu\u00e2n trong th\u1eddi k\u1ef3 \u0111\u1ec3 vi\u1ec7c t\u00ednh to\u00e1n tr\u1edf n\u00ean ch\u00ednh x\u00e1c h\u01a1n v\u00ec l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu s\u1ebd thay \u0111\u1ed5i theo th\u1eddi gian. Tr\u00ean th\u1ef1c t\u1ebf, ng\u01b0\u1eddi ta \u0111\u01a1n gi\u1ea3n h\u00f3a vi\u1ec7c t\u00ednh to\u00e1n EPS b\u1eb1ng vi\u1ec7c s\u1eed d\u1ee5ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh v\u00e0o cu\u1ed1i th\u1eddi k\u1ef3.<\/p>\n\n\n\n
C\u00f3 th\u1ec3 l\u00e0m gi\u1ea3m ch\u1ec9 s\u1ed1 EPS b\u1eb1ng c\u00e1ch t\u00ednh th\u00eam c\u00e1c c\u1ed5 phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i v\u00e0o s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh. N\u1ebfu c\u00f4ng ty ph\u00e1t h\u00e0nh th\u00eam ho\u1eb7c mua l\u1ea1i c\u1ed5 phi\u1ebfu th\u00ec s\u1ebd \u0111\u01b0\u1ee3c t\u00ednh theo c\u00f4ng th\u1ee9c b\u00ecnh qu\u00e2n gia truy\u1ec1n.<\/p>\n\n\n\n
Ch\u1ec9 s\u1ed1 earning per share thay \u0111\u1ed5i ph\u1ee5 thu\u1ed9c v\u00e0o ph\u01b0\u01a1ng ph\u00e1p k\u1ebf to\u00e1n v\u00e0 EPS m\u00e0 c\u00e1c chuy\u00ean gia<\/a> \u0111\u00e1nh gi\u00e1 l\u1ea5y t\u1eeb th\u00f4ng tin c\u00f4ng ty. Ch\u1ec9 s\u1ed1 EPS l\u1ea5y t\u1eeb chuy\u00ean gia<\/a> ho\u1eb7c c\u00f4ng ty th\u00ec ch\u1ec9 l\u00e0 con s\u1ed1 \u01b0\u1edbc t\u00ednh.<\/p>\n\n\n\n Ch\u1ec9 s\u1ed1 EPS \u0111\u01b0\u1ee3c xem x\u00e9t trong m\u1ed9t giai \u0111o\u1ea1n nh\u1ea5t \u0111\u1ecbnh \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 s\u1ef1 \u1ed5n \u0111\u1ecbnh v\u00e0 kh\u1ea3 n\u0103ng t\u0103ng tr\u01b0\u1edfng c\u1ee7a n\u00f3, \u0111\u1ec3 th\u1ea5y \u0111\u01b0\u1ee3c hi\u1ec7u qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng c\u1ee7a c\u00f4ng ty. EPS kh\u00f4ng ph\u1ea3i l\u00fac n\u00e0o c\u0169ng s\u1ebd t\u1ef7 l\u1ec7 v\u1edbi t\u1ed5ng l\u1ee3i nhu\u1eadn sau thu\u1ebf. N\u1ebfu nh\u01b0 c\u00f4ng ty mu\u1ed1n t\u0103ng v\u1ed1n b\u1eb1ng c\u00e1ch ph\u00e1t h\u00e0nh th\u00eam 10% s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu th\u00ec l\u1ee3i nhu\u1eadn s\u1ebd t\u0103ng th\u00eam 10% v\u00e0 ch\u1ec9 s\u1ed1 EPS s\u1ebd gi\u1ea3m k\u00e9o theo gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty s\u1ebd gi\u1ea3m.<\/p>\n\n\n\n V\u1edbi c\u00e1c n\u1ed9i dung th\u00f4ng tin trong b\u00e0i vi\u1ebft tr\u00ean \u0111\u00e2y, hy v\u1ecdng s\u1ebd gi\u00fap b\u1ea1n hi\u1ec3u th\u00eam v\u1ec1 ch\u1ec9 s\u1ed1 earning per share. N\u1ebfu c\u00f3 c\u00e2u h\u1ecfi n\u00e0o c\u1ea7n \u0111\u01b0\u1ee3c gi\u1ea3i \u0111\u00e1p, qu\u00fd b\u1ea1n \u0111\u1ecdc h\u00e3y comment ph\u00eda d\u01b0\u1edbi, ch\u00fang t\u00f4i s\u1ebd gi\u1ea3i \u0111\u00e1p nhanh ch\u00f3ng v\u00e0 mi\u1ec5n ph\u00ed.<\/p>\n\n\n\n <\/p>\n\n\n\n\n\n\n","protected":false},"excerpt":{"rendered":" Ghi ch\u00fa: T\u00e0i li\u1ec7u tr\u00edch d\u1eabn Earning per share l\u00e0 m\u1ed9t trong nh\u1eefng ch\u1ec9 s\u1ed1 quan tr\u1ecdng trong \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n. Nh\u01b0ng earning per share l\u00e0 g\u00ec? b\u1ea3n ch\u1ea5t th\u1eadt c\u1ee7a ch\u00fang th\u00ec kh\u00f4ng ph\u1ea3i nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00e0o c\u0169ng n\u1eafm r\u00f5. V\u1eady n\u00ean, Vietlearn.com s\u1ebd gi\u00fap b\u1ea1n t\u00ecm hi\u1ec3u c\u00e1c th\u00f4ng tin quan […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_disable_autopaging":false},"categories":[1],"tags":[],"class_list":["post-3533","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.vietlearn.org\/kien-thuc\/wp-json\/wp\/v2\/posts\/3533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vietlearn.org\/kien-thuc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vietlearn.org\/kien-thuc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vietlearn.org\/kien-thuc\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vietlearn.org\/kien-thuc\/wp-json\/wp\/v2\/comments?post=3533"}],"version-history":[{"count":0,"href":"https:\/\/www.vietlearn.org\/kien-thuc\/wp-json\/wp\/v2\/posts\/3533\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vietlearn.org\/kien-thuc\/wp-json\/wp\/v2\/media?parent=3533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vietlearn.org\/kien-thuc\/wp-json\/wp\/v2\/categories?post=3533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vietlearn.org\/kien-thuc\/wp-json\/wp\/v2\/tags?post=3533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}