But bank's shares trade below their book value, suggesting that investors are skeptical.

但是，银行股票以低于账面价值的价格交易，这一点反应了投资者的怀疑。

Many of America's biggest companies, including McDonald's, report a negative book value, a gauge of a firm's net assets.

包括麦当劳在内的很多美国最大公司上报的账面价值都是负值，账面价值是对一家公司净资产的估量。

Meta, which currently trades at just nine times earnings and two times book value, might have piqued even Graham's interest.

Meta目前的市盈率仅为9倍，价格是账面价值的2倍，格雷厄姆甚至都可能对这样的数据产生兴趣。

The equivalent figures for the Russell 1000, a broad index of stocks, were 24 times earnings and four times book value.

而它们在罗素1000指数（一种广泛应用的股指）中的数据分别为利润的24倍，和账面价值的4倍。

But plenty of well-known companies, whose competitive edge rests on brands or patents, have much higher ratios or even negative book values.

但是很多竞争优势依赖于品牌或专利的知名公司比率更高，甚至账面价值是负值。

Indian companies are expensive, trading at double the level of both their accounting (" book" ) value and their Chinese competitors.

印度公司股票价格昂贵，交易价格是其账面价值和中国竞争对手的两倍。

Neither bank can be called highly valued: the stockmarket prices Deutsche at a paltry 24% of net book value and Commerzbank at 31%.

德意志银行股票市场价格不足帐面净值的24%，德国商业银行是31%。

Many more have a book value that is small relative to their market value: their shares look dear on a price-to-book basis.

从股价与账面价值基础上来看，他们的股票很贵。

Neither group would have qualified as a deal for Graham: he liked firms priced at below 15 times earnings and 1.5 times book value.

对于格雷厄姆而言，这两组数据都谈不上划算：他喜欢市盈率低于15倍、股价低于1.5倍账面价值的公司。

The merger valued Credit Suisse at around SFr3bn, a 60% discount on its stockmarket valuation and a fraction of its SFr42bn tangible book value.

此次合并对瑞士信贷的估值约为 30 亿瑞士法郎，比其股票市场估值低 60%， 仅占其 420 亿瑞士法郎有形账面价值的一小部分。

And on his right are investors and the board who are like, our stock trades at one times tangible book value, which is very low.

在他的右边是投资者和董事会，他们说，我们的股票交易价格是有形账面价值的一倍，这是非常低的。

It will report an estimated $35 billion of negative goodwill, the difference between what it paid and the highest book value of Credit Suisse's equity.

它将报告估计 350 亿美元的负商誉，这是其支付的金额与瑞信股权最高账面价值之间的差额。

At the beginning of the year, the share prices of Alphabet, Amazon, Apple, Meta and Netflix were on average 38 times earnings and 12 times book value.

年初，Alphabet、亚马逊、苹果、Meta和Netflix的股价平均为利润的38倍和账面价值的12倍。

New stock market guidelines will go so far as to ask companies worth less than the book value of their equity to disclose their initiatives for improvement.

新的股票市场指导方针甚至要求市值低于其账面价值的公司披露其改进计划。

Firms from Alphabet to Zoom tend to have relatively few physical assets that are captured by book value and many intangible ones-such as software and human capital-that are typically not included.

从Alphabet到Zoom等公司按账面价值计入的有形资产相对较少，而许多无形资产--如软件和人力资本--通常不包括在内。

The Swiss bank was Credit Suisse's only profitable division during the first quarter of 2023. Last year, Schweiz's equity had a book value of CHF 13 billion, $14 billion.

这家瑞士银行是瑞士信贷在 2023 年第一季度唯一盈利的部门。去年，瑞士银行股权的账面价值为 130 亿瑞士法郎（140 亿美元）。