The Study On Stock Value Methods

The point of stock pricing is about how to estimating value, the traditional way on pricing mainly has two aspects:one is focusing on the absolute value, the other is focusing on the relative value. While in practical application, absolute pricing model has many suppositions, needs the investor to have enough experience, mainly depends on the subjectivity, and the operation is such a difficulty, therefore it needs many specialized knowledge and is not widely used. However, the absolute value has provided the real intrinsic reference value of stock, the significance is important; we need to think about it in actual investment. While the relative pricing model needs few supposition, mainly depends on objectivity, and the operation is quite simple, so it's widely used. However, it only considered the relative value level and the question is that it did not consider the absolute pricing level of the entire market was high or low, the systematic mistake appears, therefore in application when we use relative price, absolute price is also needs to be considered.This article reviews the stock value estimate theory, follows two main lines---The relative pricing model and the absolute pricing model, analyzes and summarizes the related main theoretical model, based on the philosophical views that everything is unified by relativity and absoluteness, and according to the thought that the property quantity and the property nature both decided the property price, we get the stock value estimate model which both considered the relativity and the absoluteness --a estimate method which unifies PB estimate model and FCFF estimate model, then carries on the real diagnosis examination with the Chinese domestic market actual data, and discovers that the model just fits the fact, from which, we make summary-P=1.2592*P1+0.2644*P2-8.3483, and get some corresponding suggestion to our investment.After all, we still have some problems, we need more status, more calculating to make our model better, and this is the article's further study direction!...