Common indicators of financial analysis
1, liquidity ratio
Liquidity is the ability of an enterprise to generate cash, which depends on the number of current assets that can be converted into cash in the near future.
(1) current ratio
Formula: current ratio = total current assets/total current liabilities
Standard value set by the enterprise: 2
Significance: Reflect the ability of enterprises to repay short-term debts. The more current assets, the less short-term debt, the greater the current ratio, and the stronger the short-term solvency of enterprises.
The analysis shows that the short-term risk of corporate debt is greater when it is lower than normal. Generally speaking, business cycle, the amount of accounts receivable in current assets and inventory turnover rate are the main factors affecting the current ratio.
(2) Quick ratio
Formula: quick ratio = (total current assets-inventory)/total current liabilities.
Conservative quick ratio =0.8 (monetary fund+short-term investment+notes receivable+net accounts receivable)/current liabilities.
Standard value set by the enterprise: 1.
Significance: It can better reflect the ability of enterprises to repay short-term debts than the current ratio. Because the current assets also include the inventory that is slowly realized and may have depreciated, the current assets are deducted from the inventory and then compared with the current liabilities to measure the short-term solvency of the enterprise.
The analysis shows that the quick ratio below 1 is usually considered as low short-term solvency. An important factor affecting the credibility of quick ratio is the liquidity of accounts receivable. Accounts receivable on the books may not be realized and may not be reliable.
General tips for liquidity analysis:
(1) Factors to increase liquidity: available bank loan indicators; Long-term assets to be realized; Reputation of solvency.
(2) Factors that weaken liquidity: unrecorded contingent liabilities; Contingent liabilities arising from guarantee liability.
2. Asset management ratio
(1) Inventory turnover rate
Formula: inventory turnover rate = product sales cost/[(opening inventory+ending inventory) /2]
Standard value set by the enterprise: 3
Significance: Inventory turnover rate is the main index of inventory turnover rate. Increasing inventory turnover rate and shortening business cycle can improve the liquidity of enterprises.
The analysis shows that the inventory turnover rate reflects the inventory management level. The higher the inventory turnover rate, the lower the inventory occupancy level, the stronger the liquidity, and the faster the inventory can be converted into cash or accounts receivable. It not only affects the short-term solvency of enterprises, but also is an important content of the whole enterprise management.
(2) Inventory turnover days
Formula: inventory turnover days =360/ inventory turnover rate =[360* (beginning inventory+ending inventory) /2]/ product sales cost.
Standard value set by the enterprise: 120.
Significance: the number of days for an enterprise to purchase inventory, put into production and sell. Increasing inventory turnover rate and shortening business cycle can improve the liquidity of enterprises.
The analysis shows that the inventory turnover rate reflects the inventory management level. The faster the inventory turnover rate, the lower the inventory occupancy level and the stronger the liquidity, and the faster the inventory can be converted into cash or accounts receivable. It not only affects the short-term solvency of enterprises, but also is an important content of the whole enterprise management.
(3) Accounts receivable turnover rate
Definition: The average number of times accounts receivable are converted into cash during the specified analysis period.
Formula: accounts receivable turnover rate = sales revenue/[(accounts receivable at the beginning+accounts receivable at the end) /2]
Standard value set by the enterprise: 3
Significance: The higher the turnover rate of accounts receivable, the faster the recovery. On the contrary, it shows that the liquidity in accounts receivable is too sluggish, which affects the normal capital turnover and solvency.
According to the analysis, the turnover rate of accounts receivable should be considered in combination with the operation mode of enterprises. Using this indicator can not reflect the actual situation in the following situations: first, enterprises that operate seasonally; Second, the installment settlement method is widely used; Third, a large number of sales settled in cash; Fourth, a large number of sales at the end of the year or a sharp decline in sales at the end of the year.
(4) Average collection period
Definition: indicates the time required for an enterprise to obtain the right of accounts receivable, recover the money and convert it into cash.
Formula: average collection period = 360/ accounts receivable turnover rate.
= (accounts receivable at the beginning+accounts receivable at the end) /2]/ product sales revenue
Standard value set by the enterprise: 100.
Significance: The higher the turnover rate of accounts receivable, the faster the recovery. On the contrary, it shows that the liquidity in accounts receivable is too sluggish, which affects the normal capital turnover and solvency.
According to the analysis, the turnover rate of accounts receivable should be considered in combination with the operation mode of enterprises. Using this indicator can not reflect the actual situation in the following situations: first, enterprises that operate seasonally; Second, the installment settlement method is widely used; Third, a large number of sales settled in cash; Fourth, a large number of sales at the end of the year or a sharp decline in sales at the end of the year.
(5) Business cycle
Formula: business cycle = inventory turnover days+average collection cycle.
= {[(opening inventory+ending inventory) /2]* 360}/ product sales cost+{[(opening accounts receivable+ending accounts receivable) /2]* 360}/ product sales revenue
Standard value set by the enterprise: 200.
Significance: The business cycle is the time from acquiring inventory to selling inventory and recovering cash. Under normal circumstances, the short business cycle indicates that the capital turnover speed is fast; The long business cycle indicates that the capital turnover rate is slow.
Analysis hint: Business cycle should generally be analyzed together with inventory turnover rate and accounts receivable turnover rate. The length of business cycle not only reflects the asset management level of enterprises, but also affects the solvency and profitability of enterprises.
(6) Turnover rate of current assets
Formula: turnover rate of current assets = sales revenue/[(current assets at the beginning+current assets at the end) /2]
Standard value set by the enterprise: 1.
Significance: The turnover rate of current assets reflects the turnover rate of current assets. The faster the turnover rate, the more economical the current assets, which is equivalent to expanding the investment of assets and enhancing the profitability of enterprises. To slow down the turnover rate, it is necessary to supplement the current assets to participate in the turnover, which will waste assets and reduce the profitability of enterprises.
The analysis suggests that the turnover rate of current assets should be analyzed together with inventory and accounts receivable, and used together with indicators reflecting profitability, which can comprehensively evaluate the profitability of enterprises.
(7) Total assets turnover rate
Formula: total assets turnover rate = sales revenue/[(total assets at the beginning+total assets at the end) /2]
Standard value set by the enterprise: 0.8
Significance: This indicator reflects the turnover rate of total assets. The faster the turnover, the stronger the sales ability. Enterprises can adopt the method of small profits but quick turnover to speed up asset turnover and increase absolute profits.
It is considered that the total assets turnover rate index is used to measure the ability of enterprises to make profits by using assets. It is often used together with indicators reflecting profitability to comprehensively evaluate the profitability of enterprises.
3. Debt ratio
Debt ratio is the ratio reflecting the relationship between liabilities and assets and net assets. It reflects the ability of enterprises to pay long-term debts due.
(1) Asset-liability ratio
Formula: Asset-liability ratio = (total liabilities/total assets) * 100%
Standard value set by the enterprise: 0.7
Importance: Reflect the ratio of the capital provided by creditors to the total capital. This indicator is also called leverage ratio.
The analysis shows that the greater the debt ratio, the greater the financial risks faced by enterprises and the stronger their ability to obtain profits. If enterprises are short of funds and rely on liabilities to maintain, resulting in a particularly high asset-liability ratio, debt risk should be paid special attention to. The asset-liability ratio is 60%-70%, which is reasonable and steady; When it reaches more than 85%, it should be regarded as an early warning signal and enterprises should pay enough attention to it.
(2) Proportion of property rights
Formula: Property right ratio = (total liabilities/shareholders' equity) * 100%
Standard value set by the enterprise: 1.2.
Significance: Reflect the relative proportion of capital provided by creditors and shareholders. Reflect whether the capital structure of the enterprise is reasonable and stable. It also shows that the capital invested by creditors is protected by shareholders' rights and interests.
Analysis hint: Generally speaking, high equity ratio is a high-risk and high-return financial structure, while low equity ratio is a low-risk and low-return financial structure. From the perspective of shareholders, in the period of inflation, enterprises can transfer losses and risks to creditors through lending; In the period of economic prosperity, debt management can get extra profits; In the period of economic contraction, borrowing less can reduce the interest burden and financial risks.
(3) tangible net debt ratio
Formula: debt ratio of tangible assets = [total liabilities/(shareholders' equity-intangible assets) ]* 100%
Standard value set by the enterprise: 1.5.
Significance: The expansion of property right ratio index reflects the degree to which the capital invested by creditors is protected by shareholders' rights and interests when enterprises are liquidated more cautiously and conservatively. Regardless of the value of intangible assets such as goodwill, trademarks, patents and non-patented technologies, they shall not be used to pay off debts. For the sake of prudence, they are all considered non-repayable.
Analysis and suggestion: From the perspective of long-term solvency, the low ratio indicates that the enterprise has good solvency and the debt scale is normal.
(4) Multiples of earning interest
Formula: Earned interest multiple = EBIT/interest expense.
= (total profit+financial expenses)/(interest expenses in financial expenses+capitalized interest)
Generally, an approximate formula can also be used:
Earned interest multiple = (total profit+financial expenses)/financial expenses
The standard value set by the enterprise: 2.5.
Significance: The ratio of operating income to interest expenditure of an enterprise is used to measure the ability of an enterprise to repay loan interest, also called interest guarantee multiple. As long as the multiple of earning interest is large enough, the enterprise has enough ability to pay interest.
The analysis shows that enterprises should have enough income before interest and tax to ensure that they can afford capitalized interest. The higher this index is, the smaller the debt interest pressure of enterprises will be.
4. Profit rate
Profitability is the ability of an enterprise to earn profits. Investors and debtors are very concerned about this project. When analyzing profitability, factors such as abnormal items such as securities trading, business items that have been or will be stopped, special items such as major accidents or legal changes, and cumulative effects caused by changes in accounting policies and financial systems should be excluded.
(1) net sales rate
Formula: net sales interest rate = net profit/sales revenue * 100%.
Standard value set by the enterprise: 0. 1.
Significance: This indicator reflects the net profit per yuan of sales revenue. Income level representing sales revenue.
According to the analysis, while increasing sales revenue, enterprises must obtain more net profit accordingly, so as to keep the net sales interest rate unchanged or improve. The net profit rate of sales can be decomposed into sales gross profit rate, sales tax rate, sales cost rate and expense rate during sales.
(2) Gross profit margin of sales
Formula: gross sales margin = [(sales revenue-sales cost)/sales revenue ]* 100%.
Standard value set by the enterprise: 0. 15.
Meaning: It means how much money can be used for expenses of each period after deducting the sales cost from each yuan of sales income, thus forming a profit.
According to the analysis, the gross profit rate of sales is the initial basis of the net profit rate of sales. Without a large enough gross sales margin, it is impossible to form a profit. Enterprises can analyze the gross profit margin of sales on schedule, so as to judge the occurrence and proportion of sales revenue and sales cost.
(3) Net interest rate on assets (return on total assets)
Formula: net interest rate of assets = net profit/[(total assets at the beginning+total assets at the end) /2]* 100%.
Standard value set by the enterprise: depending on the actual situation.
Significance: Compare the net profit of an enterprise in a certain period with its assets, and show the comprehensive utilization effect of its assets. The higher the index, the higher the efficiency of asset utilization, indicating that enterprises have achieved good results in increasing revenue and reducing expenditure, and vice versa.
The analysis shows that the net interest rate of assets is a comprehensive index. The net profit is closely related to the number of assets, asset structure and management level of an enterprise. The reasons that affect the net interest rate of assets are: product price, unit product cost, product output and sales volume, and capital occupation. We can combine DuPont financial analysis system to analyze the problems existing in the operation.
(4) Return on net assets (return on equity)
Formula: ROE = net profit/[(total owner's equity at the beginning+total owner's equity at the end) /2]* 100%.
Standard value set by the enterprise: 0.08
Significance: ROE reflects the return on investment of company owners' equity, also known as ROE or ROE, which is very comprehensive. Is the most important financial ratio.
Analysis hint: DuPont analysis system can decompose this index into related factors, and further analyze all aspects that affect owners' equity reward. Such as asset turnover rate, sales profit rate, equity multiplier and so on. In addition, when using this indicator, we should also analyze "accounts receivable", "other receivables" and "prepaid expenses".
5. Cash flow analysis
The main functions of cash flow statement are: first, to provide the actual situation of enterprise cash flow; Second, it helps to evaluate the quality of current income, third, it helps to evaluate the financial flexibility of enterprises, and fourth, it helps to evaluate the liquidity of enterprises; Fifth, it is used to predict the future cash flow of enterprises.
Liquidity analysis
Liquidity analysis is the ability to quickly convert assets into cash.
(1) Cash maturity debt ratio
Formula: Cash-to-debt ratio = net cash flow from operating activities/debt due in the current period.
Debt due in current period = long-term debt due within one year+notes payable.
Standard value set by the enterprise: 1.5.
Significance: Comparing the net cash flow generated from operating activities with the debts due in the current period can reflect the enterprise's ability to repay the debts due.
According to the analysis, besides borrowing new debts to pay off old debts, the cash inflow from business activities should generally be used to pay off debts.
(2) Cash current debt ratio
Formula: ratio of cash current liabilities = annual net cash flow generated from operating activities/current liabilities at the end of the period.
Standard value set by the enterprise: 0.5
Significance: It reflects the degree of cash generated from operating activities to protect current liabilities.
According to the analysis, besides borrowing new debts to pay off old debts, the cash inflow from business activities should generally be used to pay off debts.
(3) Total cash-to-debt ratio
Formula: Cash flow debt ratio = net cash flow from operating activities/total liabilities at the end of the period.
Standard value set by the enterprise: 0.25.
Significance: The cash inflow from business activities can be used to pay off debts except for borrowing new debts to pay off old debts.
Analysis hint: the calculation results should be compared with the past, and compared with peers to determine the level. The higher the ratio, the stronger the ability of enterprises to bear debts. This ratio also reflects the maximum interest-paying ability of enterprises.
Ability to obtain cash
(1) Cash sales ratio
Formula: sales cash ratio = net cash flow from operating activities/sales.
Standard value set by the enterprise: 0.2
Significance: Reflect the net inflow of cash per yuan of sales, and the larger the value, the better.
Analysis hint: the calculation results should be compared with the past and the industry to determine the level. The higher the ratio, the better the income quality of the enterprise and the better the capital utilization effect.
(2) Operating cash flow per share
Formula: Operating cash flow per share = net cash flow from operating activities/number of common shares.
The number of ordinary shares shall be filled in by the enterprise according to the actual number of shares.
Standard value set by the enterprise: depending on the actual situation.
Significance: Reflect the net cash obtained from operation per share, and the larger the value, the better.
Analysis suggests that this index reflects the maximum ability of enterprises to distribute cash dividends. Beyond this limit, you must borrow money to pay dividends.
(3) Cash recovery rate of all assets
Formula: cash recovery rate of all assets = net cash flow from operating activities/total assets at the end of the period.
Standard value set by the enterprise: 0.06
Significance: Explain the ability of enterprise assets to generate cash. The greater the value, the better.
Analysis Tip: If the above indicators are counted backwards, we can analyze the length of time required for all assets to be recovered with cash from operating activities. Therefore, this index reflects the significance of enterprise asset recovery. The shorter the payback period, the stronger the ability of assets to obtain cash.
Financial elasticity analysis
(1) Cash meets investment ratio
Formula: cash investment ratio = cumulative net cash flow from operating activities in recent five years/sum of capital expenditure, inventory increase and cash dividend in the same period.
Standard value set by the enterprise: 0.8
Data retrieval method: the cumulative net cash flow generated by business activities in the last five years should refer to the sum of the net cash flow generated by business activities in the previous five years; The sum of capital expenditure, inventory increase and cash dividend in the same period is also taken from the relevant columns of the cash flow statement, all taking the average of the past five years;
Capital expenditure comes from cash items paid for the purchase and construction of fixed assets, intangible assets and other long-term assets;
When inventory increases, data is extracted from the cash flow statement. Take the opposite number of the column of inventory decrease, that is, the increase of inventory; Cash dividend refers to the cash items paid by distributing profits or dividends in the main table of cash flow statement. If the new enterprise accounting system is implemented, this item is cash paid for dividend distribution, profit or interest payment, then the retrieval method is: the cash item paid for dividend distribution, profit or interest payment in the main table MINUS the financial expenses in the attached table.
Significance: Explain the ability of cash generated by enterprise operation to meet capital expenditure, inventory increase and cash dividend distribution. The greater the value, the better. The greater the proportion, the higher the self-sufficiency rate of funds.
Analysis prompt: reaching 1 means that the enterprise can use the cash obtained from operation to meet the funds needed for enterprise expansion; If it is less than 1, it means that part of the enterprise's funds must be supplemented by external financing.
(2) Cash dividend guarantee multiple
Formula: cash dividend guarantee multiple = operating cash flow per share/cash dividend per share.
= Net cash flow from operating activities/cash dividends
Standard value set by the enterprise: 2
Significance: The greater the ratio, the stronger the cash dividend ability, and the greater the value, the better.
Analysis Tip: The analysis results can be compared with those of peers and enterprises in the past.
(3) Operation index
Formula: Operating indicator = net cash flow generated from operating activities/cash generated from operating activities.
In which: operating cash = net income from operating activities+non-cash expenses.
= net profit-investment income-non-operating income+non-operating expenses+depreciation in current period+amortization of intangible assets+amortization of deferred expenses+amortization of deferred assets.
Standard value set by the enterprise: 0.9
Significance: Analyze the proportional relationship between accounting income and net cash flow, and evaluate the income quality.
Analysis tips: close to 1, indicating that the cash that the enterprise can obtain is equivalent to the cash that it should obtain, and the income quality is high; If it is less than 1, the income quality of the enterprise is not good enough.
How to judge whether there is a problem with the electric meter? There are two kinds of electric meters: one is electronic pulse, and the other is mechanical turntable.
For the electronic type, whether there is a problem with the watch can be seen by counting the number of pulses; Judge that there is something wrong with the watch by counting the available revolutions on the mechanical turntable. Details are as follows:
There is only one 100 watt light bulb connected to the back end of the meter, which should consume 0.0 1 kwh for 6 minutes. According to the instructions of the instrument, it is converted into the corresponding pulse number or revolution number to see if it is consistent. Very inconsistent. Naturally, there is something wrong with the watch.
In addition, you can also buy a socket with similar function of electric meter, and compare whether the measured values of the two are consistent after using electricity through the socket.
How to judge the advantages and disadvantages of a retail listed company from financial statements? I have some information about value analysis and will send it to you if necessary. . .
How to judge whether financial statements are false is not difficult to distinguish. The key is to see where the report is. If the tax is reported, see if there are hidden income and profits; Report the bank loan to see if there are any false assets; Report to the superior whether there are inflated profits, etc. The key is to look at some account balances that are often used to adjust profits, such as other receivables, other payables, advance receipts, prepayments, etc. There are also some basic documents of sales and procurement, as well as continuity and comparability. In a word, distinguishing false statements depends on experience and consciousness, and also depends on the level of fraud.
Please adopt it if it helps! thank you
How to judge whether the statements of listed companies are consolidated statements? There are minority shareholders' rights and interests in the owner's rights and interests in the consolidated statement, but not in the non-consolidated statement.
How to judge whether there is something wrong with the ribs? I feel dizzy. If it is broken, it can still stand. . .
Fracture is very painful, at least you can bear the general pain, but just to be on the safe side, take an X-ray.
How to judge whether there is a problem with cervical spondylosis The main symptoms of cervical spondylosis are pain in the head, neck, shoulders, back and arms, stiff neck and limited movement. According to the following two methods, we can preliminarily judge whether there is something wrong with our cervical spine: 1. Check the mobility of cervical spine: slowly turn your head in all directions to see if there is any pain in your neck. 2. Check the place where the cervical vertebra has problems: slightly lower your head, start from the most prominent seventh cervical vertebra, and gently press the cervical vertebra and the left and right sides. If there is tenderness, or if you feel a locked and sandy lump, it may be a problem with the cervical spine. Vertigo when the head and neck rotate is the characteristic of this disease, also known as cervical vertigo. This is because the rotation of the skull is mainly carried out between the neck 1-2, and the vertebral artery is most easily compressed when turning around. 1. Cervical artery torsion test: the patient's head leans back slightly and the patient's head rotates left and right. If the patient has dizziness, it is positive. 2. X-ray, CT and MRI examination of cervical spine showed cervical uncinate process joint hyperplasia, intervertebral foramen stenosis, vertebral body segmental instability and cervical disc herniation. Vertebral arteriography can show the stenosis or distortion of vertebral artery. Click free consultation to communicate with online experts. Editor: sj wants to consult customers directly, free of charge, 24 hours a day. Authoritative experts will answer your questions related to physical examination and give you professional and personalized guidance according to your situation. Online fast booking, accompanied by VIP one-on-one, reduces the waiting time in line, which is convenient and fast.
How to judge whether there is anything wrong with the heart! ? You may just have a poor life schedule, resulting in insufficient blood supply, or too much stress. But your symptoms are not clear enough. I found the following information for your reference. Early manifestations of heart disease
◆ Shortness of breath occurs when breathing is slightly active or quiet, but it is not accompanied by cough and expectoration. This situation is likely to be a manifestation of left ventricular dysfunction.
If your face is pale, purple and indifferent, it is a dying face in the late stage of heart disease. If the face is dark red, it is a feature of rheumatic heart disease and mitral stenosis. If it is pale, it may be a sign of mitral insufficiency.
◆ If the nose is hard, it means that there is too much heart fat accumulation. If the tip of the nose is swollen, it means that the heart fat may also be swollen, or the heart disease is expanding. Besides, a red nose usually indicates a heart disease.
◆ The skin of patients with chronic heart failure and pulmonary heart disease can be dark brown or deep purple, which is related to long-term hypoxia and decreased adrenal cortex function. The skin mucosa and limbs are blue-purple, indicating that the heart lacks oxygen and the reduced blood protein in the blood increases.
◆ Patients with ear and heart have tinnitus of different degrees in the early stage. This is because the microvascular dynamics of the inner ear is abnormal. When the disease does not cause systemic reaction, the inner ear will receive a warning signal. If there are continuous wrinkles in your earlobe, it is probably caused by coronary atherosclerosis.
◆ If the head and neck protrude from the clavicle to the earlobe, if the little finger is thick, it is probably right heart insufficiency.
◆ The weather on the shoulder is obviously good, but there are bursts of soreness on the left shoulder and the inside of the left arm, which may be coronary heart disease.
◆ The fingers or toes of hands and feet are obviously thick, and the nail surface is raised like a drumstick, which is common in patients with chronic pulmonary heart disease or congenital cyanotic heart disease.
◆ Edema of lower limbs in middle-aged and elderly people is often a manifestation of venous blood return obstruction caused by cardiac insufficiency. In addition, if you often have palpitations and asthma, you can only relieve it by squatting, which is a unique manifestation of purple clamp heart disease.
How to judge whether there is a problem with the battery? Common problems with mobile phone batteries are:
The battery is exhausted and the standby time is shortened. The battery is over-discharged, resulting in the phone not being turned on and the battery not being recharged. In addition, there are also power outages during the use of mobile phones, such as automatic shutdown and automatic restart.
Solution:
1, form a good battery habit. The battery has a charging and discharging cycle, which directly affects the battery life, so the habit of playing while charging and talking while charging must be corrected. It is best to use direct charging for mobile phone charging, and it is best to turn off the charging process. If the battery cannot be turned on and charged due to excessive discharge, the battery may be left for a long time. 2. In order to activate the battery again, it usually takes two or three complete charge and discharge cycles to completely "activate" the internal substances of the battery and achieve the best results. When the battery is exhausted and the standby time is shortened, the memory effect of the battery can also be eliminated by fully charging and discharging.
3. You can use physical methods, such as wrapping the battery in an insulating bag or toilet paper, putting it in the refrigerator, taking it out three days later, and charging it for a while. If there is power failure or poor battery contact during use, you can wipe the metal contact point of the battery or adjust the metal contact piece of the mobile phone with a sprinkler or clean cloth to check whether the battery contact and the mobile phone contact are inclined.
How to judge whether a company's stock is undervalued in the stock market, in fact, it is difficult for individuals to find "undervalued" stocks. Because there are countless "analysts" who are constantly fooling you for various purposes. In other words, you should not only have enough basic knowledge and the ability to infer the future trend of the industry, but also have enough discriminating ability to filter spam.
On the other hand, even if you do find "undervalued" stocks, you may not get good returns. "undervalued" needs to wait for the recognition of the market and the recognition of funds. This kind of waiting is likely to make you depressed and eventually leave because you can't stand loneliness.
In the case of unequal funds and information, I suggest that the landlord should keep up with market hotspots and pay attention to price changes as the basis for operational decision-making. Pay special attention to those stocks that don't know why they want to go up, or whose prices go up a step silently every few days.
Although it is not easy to find undervalued stocks, it is relatively easy to find overvalued stocks. When "professionals" tell everyone that the performance of a certain stock has increased by a certain time; At present, the stock price is estimated to be XX, and PE is only XX ... At that time, this stock must be overvalued. In this case, it is almost the wisest thing to "permanently" delete this stock from the system.