PEG比率是市盈率與每股盈利增長率比值，且值越小越好。在計算PEG值時，如果股息值很大，那麼每股盈利增長率需要加上股息值。
示例
英特爾公司股票在1992年~1995年期間，平均每股的年收益為40%。該公司1996年第一季度市盈率僅僅為10。那麼PEG比率為：10/40=0.25
這是一組特殊的數據！因為英特爾公司股價到2000年中期上漲了1000%。
我們如何計算長期增長率？
我們從過往業績開始，然後再研究分析師的預測：
• 調查過去3~5年中股票的銷售情況和每股收益：最近幾年的增長率如何？
• 從一個可信賴的分析師處獲得收益增長預測，或者利用公衆預測：股票銷售和收益是否和過去一致？
市盈率
市盈率：當前市價/過去一年每股收益
沒有必要自己計算。浏覽一張報紙的財經報道，你會在市場行情專欄很容易的找到市盈率值以及股息收益。同時，你也可以從大多數的經紀人網站上找到該數據。
PEG Ratio
The PEG ratio is a powerful formula which compares earnings growth and the Price Earnings Ratio:
Divide the current Price Earnings Ratio by the expected long-term growth rate (in earnings per share)*
• More than 1.0 is poor;
• Less than 1.0 is good;
• Less than 0.5 is excellent.
If dividends are significant, add the Dividend Yield to the growth rate (when calculating the PEG ratio).
Example
Intel Corporation had grown earnings per share by an average of 40% p.a. over the period 1992 to 1995. Compare this to their Price/Earnings ratio in the first quarter of 1996, a PE of only 10 times earnings.
10 divided by 40 = a PEG Ratio of 0.25
This is an exceptional reading! And by mid-2000 Intel's price had appreciated close to 1000%.
How do we calculate the long-term growth rate?
We start with past performance and then study analysts forecasts:
• Examine sales and earnings per share growth over the past 3 to 5 years:
What growth rates have been achieved in recent years?
• Obtain earnings forecasts from a reliable analyst or use consensus forecasts:
Are sales and earnings forecasts consistent with past performance?
Further details can be found at Value Investing.
Price Earnings Ratio
To calculate the Price Earnings Ratio:
Divide current market price by the last 4 quarters earnings per share.
There is no need to calculate this yourself, look in the financial section of your newspaper and you should the current find Price Earnings Ratio (PE or PER) and Dividend Yield quoted along with market prices. The information is also available from most online brokers.
文章翻譯由兄弟財經提供
本文來源：http://www.incrediblecharts.com/investing/peg_ratio.php