Ubone ukuqalisa okuyimfihlo okuningi kuya esidlangalaleni ngama-IPO.
Kodwa-ke, ukulinganisa kwenkampani, lapho ibhizinisi lisazophumela obala, kungaba yisimo esinzima. Njengoba inkampani ingekho ohlwini, umuntu akakwazi ukuthola umqondo wenani lenkampani, njengoba inani lentengo lihambisana nesamba sesheya lokulingana nomphakathi livame ukusetshenziswa njengethuluzi lokuhlola inani langempela lenkampani.
Kunezindlela ezimbalwa zokulinganisa ezisiza abatshalizimali ukuthi bahlole inani lamabhizinisi kangcono. Uma inkampani ibe nayo iminyaka eminingi yokusebenza, kuzoba nezinkomba ezinembile kakhulu.
Umbono wama-incubator, ukuqonda kwabo ukukhathazeka kwabatshalizimali, kanye nekhono labo lokuhlela inkambo yesikhathi esizayo yenkampani konke kuyizinto ezibalulekile.
Imithelela Yokuthenga Amasheya Anenani Eliphezulu
Izikhathi eziningi, izinkampani ziyazethemba ngenkathi ziya emphakathini ngenxa yezizathu ezimbalwa (okuzoxoxwa ngazo engxenyeni yakamuva yalesi sihloko).
Abatshalizimali abashisekayo bayengelwa ekuthengeni ama-IPO abiza kakhulu, futhi ngenxa yalokho bazibeka esimweni sokubhekana nobunzima bomnotho. stock market futhi uthole ukulahlekelwa okukhulu ngokwezimali esikhathini esizayo.
Imakethe ineyayo indlela yokudonsa amasheya abiza kakhulu ukuthi zaziyini izindleko zazo zangempela (ukungakhethi izitoko ezingashintshile futhi ngaleyo ndlela kubekwe amanani ezitoko ngenani elihlobene kakhulu nenani langempela lenkampani).
Kungani Amanani Amasheya Enyuka Kakhulu?
Ama-Demand Spikes: Ivolumu yokuhweba, emele ukuthi zingaki izitoko ezathengiswa ngesikhathi esithile, inani lomsebenzi wemakethe. Indawo enesidingo esikhulu ingase ibangele ukweqiwa kwesitoko.
Izinguquko Emiholo Yebhizinisi: Uma umnotho unezinxushunxushu, ukusetshenziswa kwemali komphakathi kuyehla, okungaholela ekwehleni kwenzuzo yezinkampani. Uma lokhu kwenzeka, kodwa intengo yesitoko yenkampani ayilungiseleli ileveli entsha yenzuzo, amasheya ayo angase athathwe njengenani elingaphezulu.
Ukushintshashintsha kwe-Cyclical: Izintengo zesitoko zingashintsha kuye ngokuthi izitoko zezimboni zenza kangcono yini kwezinye izindawo kunabanye.
Izindlela Eziyisishiyagalombili Zokuhlonza Isitoko Esinenani Eliphezulu
Njengengxenye yophenyo olubalulekile, kunezilinganiso eziyisishiyagalombili ezivame ukusetshenziswa ngabathengisi nabasekeli bezezimali:
→ Isilinganiso semali engenayo (P/E)
→Isilinganiso semali engenayo nentuthuko (Isiteki)
→Inani lenani lesibopho (D/E)
→Buyisela inani (ROE)
→Imali engenayo
→Isilinganiso samanje
→ Isilinganiso sezindleko zencwadi (P/B)
→ Isilinganiso semali engenayo (P/E)
I-Cost-to-Income Ratio (P/E)
Isilinganiso senhlangano sezindleko-kuya-kwimali engenayo (P/E) indlela yokulinganisa inani lesitoko sayo. Empeleni, kunengqondo inani ongaba nalo ozolisebenzisa ukuze wenze i-Re1 ibe yinzuzo. Isilinganiso esiphezulu se-P/E singasho ukuthi amasheya enziwe ihaba.
Ngenxa yalokho, kungase kube usizo ukuhlaziya izilinganiso ze-P/E zezinhlangano eziqhudelanayo ukuze ubone ukuthi izitoko onethemba lokuzishintsha ziyihaba yini.
Isilinganiso se-P/E sinqunywa ngokuhlukanisa inani lemakethe ngesheya ngalinye nge-income per share (EPS). I-EPS inqunywa ngokuhlukanisa inzuzo yenhlangano ephelele ngenani leminikelo eyinikezile.
Iholo Levalu kuya ku-Development Ratio (Isiteki)
Isilinganiso samasheya sithatha i-gander esilinganisweni se-P/E uma kuqhathaniswa nokuthuthukiswa kwezinga ku-EPS yaminyaka yonke. Esimeni lapho inhlangano inenzuzo encane kanye nenani eliphezulu leSiteki, kungase kusho ukuthi isitokwe sayo senziwe ihaba.
I-Obligation Value Ratio (D/E)
Isilinganiso se-D/E silinganisela isibopho senhlangano ngokumelene nezinsiza zayo. Isilinganiso esiphansi singasho ukuthi inhlangano ithola ingxenye enkulu yoxhaso lwayo kubatshalizimali bayo - noma kunjalo, lokho akuqinisekisi ukuthi isitokwe sayo sinehaba.
Ukubeka lokhu, isilinganiso senhlangano se-D/E kufanele sihlale silinganiswa ngokumelene nokujwayelekile kwezimbangi zayo. Lokho kungenxa yokuthi isilinganiso 'senhlanhla noma ishwa' sincike ebhizinisini. Isilinganiso se-D/E sinqunywa ngokuhlukanisa izikweletu ngevelu yomtshali-zimali.
Buyela ku-Equity (ROE)
I-ROE ilinganisela inzuzo yenhlangano ngokumelene nevelu yayo. Kunqunywa ngokuhlukanisa inzuzo iyonke ngevelu likazakwethu. I-ROE ephansi ingaba uphawu olungase lube khona lwamasheya ayihaba.
Lokho kungenxa yokuthi kuzokhombisa ukuthi inhlangano ayidali ithani lomholo uma kuqhathaniswa nokuqagela kwabatshalizimali.
Inzuzo Yenzuzo
Isivuno semali engenayo ngokuyisisekelo into ephambene nesilinganiso se-P/E. Kunqunywa ngokuhlukanisa i-EPS kusetshenziswa izindleko ngesheya ngalinye, esikhundleni sezindleko ngesheya ngalinye ngemali engenayo.
Abathengisi abambalwa bakholelwa ukuthi isitokwe senziwa ihaba uma kwenzeka izindleko ezivamile zezimali zinikezwa uhulumeni wase-US kuyilapho ukuthola ukheshi (okwaziwa ngokuthi i-depository yield) inkulu kunenzuzo yenzuzo.
Isilinganiselo samanje
Isilinganiso samanje senhlangano sibala amandla ayo okunakekela izibopho. Kunqunywa ngokuyisisekelo ukwahlukanisa izinsiza ngezikweletu.
Isilinganiso esiqhubekayo esingaphezu kuka-1 ngokuvamile sisho izikweletu zingakhava ngokugculisayo yizinsiza ezifinyelelekayo. Uma isibalo esiqhubekayo siphezulu, ayanda amathuba okuthi inani lamasheya lizoqhubeka likhuphuka.
Isilinganiso Sencwadi Yezindleko (P/B)
Ukuhlolwa kwenani langempela lesitoko ngokufanayo kungokwesilinganiso se-P/B senhlangano. Lesi silinganiso sisetshenziselwa ukuhlola izindleko eziqhubekayo zomkhakha webhizinisi ngokumelene nenani lencwadi yenhlangano (absolute resources izikweletu ezimfushane, ezihlukaniswa ngokunikezwayo okunikeziwe).
Ukuze uqinisekise, hlukanisa izindleko zemakethe zesheya elilodwa ngenani lebhuku ngesheya ngalinye. Isitoko singase senziwe ihaba uma isilinganiso se-P/B singaphezu kuka-1.
Nasi Isibonelo Esinomongo Wokufingqa
Yini Engalungile Nge-IPO Yomhlaba KaMama:
Muva nje, i-IPO ye-Mama Earth yenze izindaba eziningi futhi izazi eziningi zezimali zicela abatshalizimali ukuthi baqaphele njengoba isitoko sinenani eliningi. Lokhu kungenxa yabo izitatimende zezezimali azikuthetheleli ukulinganisa lapho befake khona amanani ama-IPO.
Ukulinganisa okucelwayo kuyiphinda izikhathi ezingu-17 imali engenayo ye-FY23 (imali engenayo ye-H1-FY23 yama-Rs. 722 cr.) kanye nezikhathi ezingu-26 zemali engenayo ye-FY22 ebiza ama-Rs. 943 cr. Inesilinganiso se-P/E esingu-3400x (kusekelwe ku-FY22 PAT ye-14.44 cr kanye ne-H1-FY23 PAT ebiza u-Rs 3.67 cr 2) kanye no-1700x.
I-Mamaearth izodinga ukwandisa inzuzo yayo okungenani izikhathi ezingu-50 kulesi silinganiso se-P/E ukuze iqinisekise ukulinganisa kwayo kwamanje. Ngenxa yalokhu kukhuphuka kweMali Engenayo Eningi, ibhamuza lizoqhuma futhi abatshalizimali bazolahlekelwa kakhulu.
shiya impendulo