93.11.

30

(P/E)
(P/B)
(P/S)

1
=>PSR

()
()
(DOL)
DOL=
()

(IC)
(TFT)
2

(>>)

(
6

(93)

(
)(
)

()P/E
P/BP/S

()

()

(P/B)

(P/E)
1.
2.=EPS Price/EPS
3.
(rg)
4.
(1)EPS
(2)P/E()
(3)EPS
(4)

5. P0=

DPS1=EPS0 Payout Ratio (1+g)

5.

P/S P/S

P/S P/S

()=

P/B

ROE P/B ROE P/B

ROE P/B ROE P/B

5.

10

(P/S)

1.1
2.=
3. P/S=
4.P/S
P/S

1.
2. =
3. P/B=
4.ROEPBV
ROE

11

(
)

12

13

14

(89~93)P/EP/BP/S

90.90151.22
15

16

P/EP/SP/B
P/E

17

18


93116E
143E41E-10E()

P/BP/S931122
P/BP/S1.451.2

()
=* =26.84*0.8=21.5
()
=*=32.8*0.8=26.24
19

20

30
1.17160
2. 10
3.
933Q4Q941Q
4.94
5.
N/BLCDMonitorLCD-TV
LCD-TV(304-)
()
()()
(~)
6.LG21

LCD-Monitor

89

730

642

-88

71

71

---

90

1030

1538

508

120

160

40

91

1950

3366

1416

150

308

158

92

4500

5009

509

355

440

85

93

6772

6782

10

900

800

-100

94()

()

15 15 15

---

89 1 580 90 9 195

20
3
--- ---- ---
-66%

91 5 265

8
6
14
90.10
36% -38%

90 9 195

91 11 165

11.35

91 11 165 93 5 250

94 3 150
()

18
10

28
52% -40%
91.10

22
15.6

LCD TV

N/B=5700 g=23%LCD Monitor10000 g:=42%

LCD-TV=1600 g=100%

23

*934Q941Q

24

P/E P/BP/S
()
()()
() ()

()

()

P/EP/B
P/S

25

26

27

28