The calculation method for determining the stock price of the company to be listed

At present, in practice, the pricing is based on the price-earnings ratio method.

Share Price Net profit per share * P/E ratio for the year prior to listing.

Recently, the price-to-earnings ratio of GEM issuance is around 40 times.

The issuance** of listed companies is the result of institutional roadshows to listed companies. Hepalink's assets prior to listing totaled $1 per share. The listing issue price reached 148 yuan, setting a record in China, which is the result of the bidding and subscription of **, ** companies, investment banks and other institutions led by Bosera.

If it is confirmed according to the market rules per share** of the company to be listed, it is a more complex calculation method, and a simpler method is the price-earnings ratio comparison method

1. Find no less than three listed companies of the same type, and use them as comparison parameter samples to calculate the average price-earnings ratio, growth rate, yield, average share capital and net assets;

2. Calculation method of the price-earnings ratio of the company to be listed: sample average price-earnings ratio * earnings per share of the company to be listed = basic stock price.

3. Calculation method of growth rate, rate of return and net assets: the growth rate, rate of return, and net assets of the company to be listed are compared with the sample, such as 20% higher than the average growth rate of the sample, and the calculation method is: the stock price of the company to be listed = [basic stock price * (net assets) 20%] + basic stock price * (growth rate) 20%] = the stock price of the company to be listed.

4. Calculation method of average share capital: the share capital is divided into four steps: low (total share capital of less than 100 million), medium (total share capital of 1-500 million), high (total share capital of 5-3 billion) and ultra-high (total share capital of more than 3 billion), and the stock price difference of each step is about 50%.

The stock price of the company to be listed calculated according to the above method is generally easy to be accepted by investors. In addition, the impact of industry differences and uniqueness differences on stock prices, popular industries (different popular industries in different periods) and listed companies with uniqueness can be determined to be higher.

The **** of non-listed companies is a kind of ** discussed and issued by the board of directors itself, which is generally only issued for internal employees - generally the company is valued and divided into **, which is not recognized by the outside world, that is, this division has not been reviewed and notarized, and is only for internal circulation.

1. The total share capital of non-listed companies

The total share capital is determined in the articles of association, if the registered capital is 10 million yuan and 1 yuan per share, the total share capital is 10 million shares; If the shareholder increases the capital by 10 million after that, the total share capital will be 20 million.

Second, on the issue of stock price. Since it cannot be listed and traded, there is little involvement in the issue of shares. However, for the purpose of equity trading, its stock price is also measured. The main ones are:

1. Determined by net assets, that is, the total share capital of the company is the value per share, if the total share capital of the company is 20 million, and the company has 30 million net assets if it is properly operated, the value per share is yuan; If the operation is not properly operated and there is only 10 million net assets, the value per share is yuan.

However, this method only determines the fair value, taking into account various factors such as the proportion of investment control, enterprise development, and industrial direction, and it is necessary to conduct appropriate negotiation on the basis of net assets. This gives rise to the second way.

2. The negotiation method is determined, that is, on a certain basis, such as the value of each share on the basis of net assets, both parties consider their own factors and factors to carry out appropriate bargaining, and the bargaining price is usually higher than the value per share determined by net assets.

Third, how to determine the **** of non-listed companies

At present, there are many kinds of pricing methods, comparable pricing, price-earnings ratio pricing, price-to-sales ratio pricing, etc., how to distribute dividends with different pricing in different industries? At the end of the year, some companies will distribute the profits of the year, which is the first day of dividends.

Of course, the company can be divided or not divided into 1 yuan, depending on whether the company gives ** options or shares, options have to spend money to buy, and the company does not need to rise to 2 yuan to send shares, and want to buy and sell. It depends on whether there is a transfer mechanism within your company, if there is, you can transfer it, or you can transfer it privately with others.

However, it is generally not open to buy and sell, the 10,000 price difference is a capital gain, not a dividend, and the participation in the dividend is the ** share you hold rather than the amount, some companies stipulate that they must be transferred before leaving the company, and some can not be transferred, depending on the company's rules. If you buy and sell ** in 2 yuan, you will earn 10,000,; If it is yuan, you will lose 5000, but since the company gives you **, it is best not to buy and sell.

When some non-listed companies in China implement employee stock ownership and manager acquisition plans, the determination of equity is generally based on the net asset value per share as the main or even the only basis, and the equity of some enterprises is simply determined as the par value of ordinary **.

Unlike listed companies, when non-listed companies formulate employee stock ownership and management acquisition plans, their equity purchase is determined without a corresponding market** as the pricing basis, so it is relatively much more difficult to determine.

Assets are valued, allocated to share capital, and share prices are calculated.

Derived from an inquiry. An important part of pre-IPO work.

It is calculated randomly by the company.

The following three aspects are determined.

1. Accumulate orders.

This is the U.S. ** market.

Often-adopted ways.

The general practice is that the underwriter first agrees a pricing range with the issuer. Then through marketing to collect a variety of ** demand, and to find out.

After understanding the required quantities, the listed underwriters and issuers determine the final offering**.

2.Fixed**.

This is the way it is commonly done in the UK, Japan, Hong Kong and other ** markets. Basically, the underwriter and the issuer agree on a fixed ** before the public offering. Then a public offering is made based on this **.

3.A combination of cumulative orders and fixed **.

This method is mainly suitable for international fundraising. Public offering in the main place of issuance.

At present, the determination of China's **** mainly belongs to the fixed ** method. That is, before the issuance, the lead underwriter and the issuer determine the issuance of new shares in accordance with the price-earnings ratio method**.

Extended information: ** (stock) is part of the ownership of the joint-stock company, and it is also a certificate of ownership issued by the joint-stock company to each owner as a shareholding certificate for the purpose of raising funds and a valuable ** to obtain dividends and bonuses. ** is the capital market.

A long-term credit instrument that can be transferred, bought and sold, with which shareholders can share in the company's profits, but also bear the risk of the company's operational errors. Each share** represents a basic unit owned by shareholders of the business.

Ownership. Each listed company will issue a **.

Each copy of the same category** represents equal ownership of the company. The size of the company's ownership share owned by each owner depends on the number of shares held by the owner in the total share capital of the company.

specific gravity. ** It is a component of the capital of a joint-stock company, which can be transferred, bought and sold, and is the main long-term credit instrument in the capital market, but the company cannot be required to return its capital contribution.

**It is a certificate that the owners (i.e. shareholders) of the joint-stock enterprise (listed and unlisted) own the company's assets and interests. Listed shares are called tradable shares and can be found on the exchange.

i.e. the secondary market.

Freedom to buy and sell. Unlisted shares are not traded on the exchange, so they cannot be freely traded, and are called unlisted tradable shares.

This ownership is a combined right, such as participation in a general meeting of shareholders.

Voting criteria, participation in major decisions of the company, receipt of dividends or sharing of dividends, etc., but also share the risks caused by the company's operational errors.

** is a valuable **, is a share certificate issued by a joint-stock company to investors when raising capital, representing the ownership of its holders (i.e. shareholders) to the joint-stock company. The imitation ticket is the abbreviation of the share certificate, which is a valuable item issued by the joint-stock company to shareholders as a shareholding certificate in order to raise funds and obtain dividends and bonuses. Each share** represents a shareholder's ownership of a basic unit of the business.

**It is a component of the capital of a joint-stock company, which can be transferred, bought and sold or pledged for a value, and is the main long-term credit instrument in the capital market.

1. Market value refers to the total value of the issued shares of a listed company calculated according to the market, which is calculated by multiplying the market per share by the total number of shares issued. The sum of the market value of all listed companies in the whole market is the total market capitalization.

2. The face value and market value of ** are often inconsistent. It can be higher or lower than the face value, but the first issue is generally not lower than the face value.

3. It mainly depends on the expected dividends, the level of bank interest rates, and the supply and demand relationship of the market. The market is a volatile market and fast, and the market is also constantly fluctuating.

4. The market transactions mainly include: the opening price, the closing price, the most, and the lowest price.

1. The stock price of listed companies is divided into market and theory.

**Theory** = Dividend Yield Market Interest Rate.

2. ** itself has no value, but it can be sold as a commodity, and there is a certain **. It is also called the market, which refers to the market that is bought and sold. It is divided into theory and market.

The theory is not equal to the market, and there is even a considerable gap between the two. However, the theory of the market provides an important basis for the trend of the market, and it is also a basic factor for the formation of the market.

Your teacher is a layman. It is not possible to calculate the share price based on the annual report. Follow-up:

The stock price cannot be calculated, this is determined by the market.

The formula is: the company's latest market price The company's latest annual earnings per share price-earnings ratio is an important indicator to analyze the high and low market price, and it is a way to measure the value of investment.

The P/E ratio is an indicator of risk. It reflects the yield of a certain ** in a certain period of time, and has become a comprehensive indicator of many factors affecting the stock price in the market. The price-earnings ratio integrates the cost and return of investment, which can comprehensively reflect the overall picture of development, so it has important value in analysis.

The P/E ratio can not only reflect the return on investment, but also show the value of the investment. A sharp rise in the P/E ratio can make ** profitable, making the bulls active.

The P/E ratio also serves as a reference for determining the initial issue of a new issue. If the premium issuance method is issued, it is necessary to consider determining the premium range according to the average investment potential of the market, and the average price-earnings ratio of various similar prices can be used as a reference standard. Now Shanghai and other ** premium issuance is taking this way.

Addendum: The P/E ratio is the ratio of a listed company's share price to its earnings per share (annual). That is: P/E ratio = stock price earnings per share (annual). Obviously, this is a measure of the ratio of the value of a listed company. Then, stock price = P/E ratio * earnings per share (annual).

Answer pro, your question I am answering the input, please wait a moment ......1. First of all, analyze the P/E ratio, compare the current P/E ratio with the industry average, higher than the industry average may be overvalued, and lower than the industry average may be undervalued. In addition, it is better to analyze the dynamic P/E ratio, which is calculated based on the net profit of the latest period, so it can just reflect the current stock price.

2. Analyze the company's price-to-book ratio, the general price-to-book ratio is more reasonable at 3-10, and this method is suitable for some large-scale enterprises.

3. Analyze the PEG of the **, the lower the PEG value, the greater the possibility of the stock price being undervalued. In general, a PEG greater than 1 in traditional industries may be overestimated; Less than 1 may be underestimated; The PEG of an emerging industry may be greater than 2 to be considered overvalued.

The general way to calculate a reasonable share price is to multiply the net asset value per share by the price-to-earnings ratio.

Among them, the average price-earnings ratio is 15.

To be exact, earnings per share multiplied by the price-to-earnings ratio.

Question, thank you ha [smile].

First of all, it should be clear that the issue price is the first time that shareholders subscribe for the new issuance, and the issue price is not determined by any company or institution, but the result of a market inquiry or bidding.

In fact, the issue price is generated on the basis of inquiry, and there are many factors considered when inquiry, mainly the company's growth, profitability, net assets, the prospects of the industry in which the company is located and other factors; Strong profitability, good growth, the higher the corresponding issue price-earnings ratio, earnings per share multiplied by the price-earnings ratio, some inquiry agencies participate together, bidding for the corresponding issue price, which is the first time that shareholders subscribe for new shares.

Hope it helps.

You're wrong, if the issue price determined on December 34 is followed, the static P/E ratio should be 40 times.

To calculate the issue price after the 25th, the price-earnings ratio should be determined first, and the issue price is the whole year.

Earnings per share multiplied by the price-to-earnings ratio.