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Price-Earnings Ratio

The price of a security per share at a given time divided by its annual earnings per share. Often, the earnings used are trailing 12 month earnings, but some analysts use other forms. The P/E ratio is a way to help determine a security's stock valuation, that is, the fair value of a stock in a perfect market. It is also a measure of expected, but not realized, growth. Companies expected to announce higher earnings usually have a higher P/E ratio, while companies expected to announce lower earnings usually have a lower P/E ratio. See also: PEG


1. In stock-index futures, the number multiplied by the futures price to determine the value of the contract. For example, the $500 multiple of the Standard & Poor's Midcap Index is multiplied by the futures price to determine the value of one contract. Thus, a futures price of $230 would yield a contract value of $115,000 ($500 × $230).


A stock's multiple is its price-to-earnings ratio (P/E). It's figured by dividing the market price of the stock by the company's earnings.

The earnings could be the actual earnings for the past four quarters, called a trailing P/E. Or they might be the actual figures for the past two quarters plus an analyst's projection for the next two, called a forward P/E.

Investors use the multiple as a way to assess whether the price they are paying for the stock is justified by its earnings potential. The higher the multiple they are willing to accept, the higher their expectations for the stock.

However, some investors reject stocks with higher multiples, since it may be impossible for the stock to meet the market's expectations.

References in periodicals archive ?
Farydak s approval is particularly important because it has been shown to slow the progression of multiple myeloma.
Multiple myeloma is characterized by a proliferation of plasma cells that produce M proteins and an overproduction of myeloma protein and immunoglobulin.
5) The darkened circle at the top of the skull indicates significant bone damage caused by multiple myeloma.
The Multiple Myleoma EpiCast Report provides an overview of the risk factors, comorbidities, and global trends for multiple myeloma in the eight major markets (8MM) (US, France, Germany, Italy, Spain, UK, Japan, and urban China).
OncoPep's lead program is a multi-peptide therapeutic vaccine for use in treating smoldering multiple myeloma.
More time is required to develop and refine this technology which could potentially eliminate multiple myeloma from the body.
As a result of the study, to be released today in the New England Journal of Medicine, the federal Food and Drug Administration approved the wide use of Aredia with sufferers of multiple myeloma, a rare cancer form that the American Cancer Society estimated killed 10,300 people last year.
Innovative Pre-competitive Consortium is Focused on Translating Scientific Findings from Landmark Multiple Myeloma Study into Therapeutic Advances for Patients
com/research/6phb2m/global_multiple) has announced the addition of the "Global Multiple Myeloma Drugs Market 2015-2019" report to their offering.
Genetic and Epigenetic Mechanisms in Multiple Myeloma
Food and Drug Administration (FDA) for the treatment of multiple myeloma.

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