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Assignment is a stock that has been evaluated as low as stock price for corporate value.
However, it is not limited to allocation stock only with low stock price. What is important is whether the stock price is cheaper than profit, assets, growth, finance, dividends, etc.
PER, PBR, and dividend yield are often used when viewing allocation shares. On the other hand, there is a brand that looks cheap because of its performance deterioration and structural problems.
In this article, we will organize the meaning of allocation stocks, representative judgment indicators, benefits andメリットs, and the viewpoints for beginners.
What is allocation?
Assignment is also called value strain.
It is a symbol that is considered to be lower than the company value in the market.
For example, if the performance is stable, there is a profit, and there is a dividend, the stock price may be left low.
Such symbols may increase the stock price by refining from the future market.
However, it is not determined by the absolute amount of stock price. There is a possibility that even 100 yen shares are discounted, and even 10,000 yen shares may be discounted.
Why is it safe?
There are a few reasons why stocks seem to be discounted.
One is that it is not popular. Businesses with low growth expectations and local businesses may not be attracted by investors and may have low stock prices.
The other is a temporary negative material. It may be sold cheaper than the value of the game due to economic anxiety, temporary業績 of performance, and weak mood of the entire market.
It also affects market requirements. If the whole market is weak, it may be sold together to a good company.
A representative indicator to see allocation stock
PER, PBR, and dividend yield are the key indicators used when searching for allocation shares.
These are useful, but do not judge alone. You need to look in conjunction with the industry, growth, finance and cash flow.
| 指標 | View |
|---|---|
| PER | Is the stock price higher or cheaper for profit? |
| PBR | Is the stock price higher or cheaper for net assets? |
| idend | How much dividends are available for stock price |
About PER
PER is the share price revenue rate.
It is an indicator to see whether the stock price is high or low for the profit.
PER = stock price ÷ profit per share (EPS)In general, the lower the PER, the lower the discount, the higher the PER, the higher the growth expectation.
However, it is not always a discount because it is low PER. In some cases, the market may be woven to reduce future profits before business results are worse.
About PBR
PBR is the magnification of net assets.
This is an indicator of how much stock value is evaluated for net assets.
PBR = Stock Price ÷ Net assets per share (BPS)PBR1 double cracking may be expressed as cheaper than dissolution value.
However, it is not always a purchase because it is broken one by one PBR. It may be highly evaluated for reasons such as low asset efficiency, low growth, low profit.
Relationship with dividend yield
High dividends may be noticed as allocation shares.
The high dividend yield is popular among long-term investors because dividends are seen in the stock price.
However, it is not safe because it is high yield. As the stock price decreases greatly, the yield may only be seen high.
When viewing dividends, check the deduction risk, dividend ratio, and cash flow.
Benefits of allocation
The advantage of the allocation is that it is relatively small because it is already low.
In addition, dividends may be expected in mature companies. It is compatible with the investment style that waits to review from the market while receiving dividends.
In addition, when the business performance improvement and the shareholder return are strengthened, review and purchase may be entered. If such a revaluation occurs, the stock price may rise.
Benefits of allocation
There is also aメリット for allocation.
First of all, it may not be up for a long time. If the market is not noticeable, the stock price may not move even if it is seen as discount.
Next, you may have weak growth. Low PER and low PBR can be easily maintained in mature and structurally demanding industries.
The most important thing to note is the value ラップ. This is a case where the stock price falls even more, although it seems to be an interruption, actually having a business performance deterioration or structural problem.
For beginners
It is important that beginners do not judge allocation by numbers.
PER and PBR are useful, but it doesn’t know how it works.
The points you want to check are as follows:
- Is sales and profit stable?
- Is there a cash flow for sales?
- whether financial is not worse
- Can I continue to dividends?
- whether the entire industry has not faded
- Can I explain why stock price is cheap?
In addition, PER and PBR are different in each industry. High-tech companies are more PER-friendly, and banks and trading companies may be seen low.
Even with the same indicator, it makes it easy to make decisions that do not compare the industry.
Long-term investment
Assignment investment is compatible with long-term ownership, dividend reinvestment, and dispersion investment.
It is an investment that waits for a review from the market rather than aiming for a in a short time.
However, if you focus only on allocation, you may be delayed in the growth rate. Value shares, growth shares, and index investments make it easier to disperse risks.
Common misunderstandings
It is dangerous to buy low PER.
PER may appear low because the profit remains still before business performance deterioration. However, if the profit decreases after the next。 year, it may not be substantially discounted.
In addition, because the stock price is cheap, it is not a discount. What’s important is whether it’s cheaper than corporate value.
- Assigned shares are less valued than corporate value
- PER, PBR, and dividend yield indicators
- Low stock prices are not included.
- Be careful about value ラップs
- View not only numbers, but also financial, cash flow
First of all, let's have a consciousness to check for the cheap reason. It is important to identify whether it is really cheap or is a problem.