「PBR」は「price book-value ratio」の略語で、「株価純資産倍率」という意味になります。英語では「PBR」より「P/B ratio」が使われています。「PBR」は１株当たりの純資産に対して、株価が何倍まで買われるのかを表す割合です。たとえば、会社の株価が１００００円で、１株当たりの純資産が1000円の場合、その会社のPBRは１０倍になります。
What is the PBR for this stock?
この株の株価純資産倍率はなんですか？
It has a PBR of five.
PBRは５倍です。
Hi Luke,
It will be required to understanding what is ” Authorized Capital ” to understanding ” price book-value ratio “.
・ authorized capital ( UK )
・ authorized share capial ( US )
” authorized capital ” is explained below.
The largest number of shares that a company can offer for sale at a particular time:
・Shareholders approved an increase of 30% in the bank’s authorized share capital.
But,the explanation and its example sentence describe different thing from each other.
What’s the difference between A and B below?
A:The largest number of shares that a company can offer for sale at a particular time
B:Shareholders approved an increase of 30% in the bank’s authorized share capital.
The answer is here.
A: It describe like this: one share,two shares,a hundred shares..( i.e. the number of shares )
B: It describe like this: $ 10,000 in the bank,$ 1,000,000 in the bank..( i.e. amount of money )
So,” authorized capital ” has 2 meanings.
1.) the number of shares for sale ( i.e. if they hope so )
2.) the amount of money in the bank for a unit ( i.e. this is a base of shares )
Why the different meanings are described by the same phrase ” authorized capital “?
When the company is incorporated,the person ( or some people ) relative to the company （i.e. usually,Directores ) is required to pay some amount of money as the registered shareholder of the fully paid share at the biginning.
Then,the amount of money that has been paid for the comany’s share ( i.e. a unit ) will be able to be replaced to shares ( i.e. units ) under the companies ordinance of the nation where the incorporated company according to.
I mean the amount divided into shares.
For example,
$ 1,000,000 could be divided into 1,000,000 shares of $ 1 each.
Then,
・$ 1,000,000 ＝ authorized capital
・1,000,000 shares ＝ authorized capital
Then,
1.) Shares for sale have been sold out
⇓
2.) considering more ” share capital ”
⇓
3.) increasing more Amount of Money for ” authorized capital ”
Then,
Share Prices in the market are different from amount of money paid for ” Authorized Shere Capital “.
Amount for ” authorized capital ” at the biginning should be considered to incorporate the company.