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Esade Alumni

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FACTORES QUE AFECTAN AL PER<br />

• Beneficio Futuro (ROE)<br />

• El crecimiento de los beneficios ( g )<br />

• La Tasa de Reparto de dividendos (PAYOUT)<br />

• El riesgo y los tipos de interes ( Ke )<br />

Factores<br />

PER<br />

Si Beneficio Futuro<br />

Si Tipos de Interés<br />

Si Crecimiento<br />

Si payout<br />

Depende si<br />

ROE > Ke<br />

<strong>Esade</strong> <strong>Alumni</strong> 22

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