市銷率：P/S (Price-to-Sales Ratio)
市銷率 = ((股價 × 總股數)／營收) x 100% = (總市值／營收) x 100%
市銷率特別適合用來評估那些尚未盈利的公司，尤其是新興產業或處於成長初期的公司。這些公司可能尚未達到盈利的狀態，因此市盈率（P/E）無法計算或無意義，而市銷率則可以提供一個初步的估值標準。
市銷率僅反映公司的營收，而未考慮盈利能力、成本結構和現金流狀況。因此，市銷率偏低並不一定代表公司被低估，可能只是因為公司面臨巨大的經營風險或盈利前景不明朗。此外，市銷率在不同的行業中的適用性差異很大，因為不同行業的平均市銷率會有所不同。
投資者應該將市銷率與公司未來的成長預期相結合。如果一家公司的市銷率較高，但其未來營收增長潛力很大，則這可能是合理的。但如果市銷率高且增長潛力有限，則需要謹慎對待。
另外，在網上找到分享費雪使用市銷率去選股的資料，記錄如下
- 公司最近5年平均銷售收入年均增長率≧25%
- 公司未來長期銷售收入年均增長率大約在15%~20%之間
- 最近5年公司平均稅後利潤率超過5%
- 公司負債率低於35%
- 市銷率為0.75或更低的時候（即PS大於0小於0.75）
- 避開市銷率超過1.5的股票，任何市銷率大於3的公司決不要碰
- 任何超級公司的市銷率漲到3至6之間時，要堅決地賣出持股
Earl Consolation Jr. Davison, Genesee, MI Consolation & Everinghams of Onaway, MI.
Good article. I will be facing many of these issues as well..
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