Companies are valued based on future output at least as much as what they produce in the here and now. For few is this as true as it is for KuangChi Science (motto: “Future is Now”) which commands a near-$2bn market capitalisation. Last year, the company made earnings before interest, tax, depreciation and amortisation of just $14m. Where the science ends and fiction begins is not clear; a lot is priced into KuangChi’s shares.
在決定企業(yè)估值的因素中，未來預(yù)期產(chǎn)出這個因素所占權(quán)重至少和當下產(chǎn)出持平。幾乎沒有哪家企業(yè)比市值達到近20億美元的光啟科學（Kuang-Chi，企業(yè)格言是“未來即現(xiàn)在”）更適用這句話了。去年該公司的息稅折舊及攤銷前利潤(EBITDA)僅為1400萬美元。尚不清楚在光啟描繪的世界中，哪些是科學，哪些是幻想；有很多東西都被計入到了光啟的股價之中。
您已閱讀22%（601字），剩余78%（2171字）包含更多重要信息，訂閱以繼續(xù)探索完整內(nèi)容，并享受更多專屬服務(wù)。