╨Ъ╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨╛╤В╨┤╨░╤З╨╕


╨з╤В╨╛ ╤В╨░╨║╨╛╨╡ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨╛╤В╨┤╨░╤З╨╕?

╨Ъ╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨▓╨╛╨╖╨▓╤А╨░╤В╨░, ╤В╨░╨║╨╢╨╡ ╨╜╨░╨╖╤Л╨▓╨░╨╡╨╝╤Л╨╣ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨╛╨╝ ╤Г╨┤╨╡╤А╨╢╨░╨╜╨╕╤П, ╨┐╤А╨╡╨┤╤Б╤В╨░╨▓╨╗╤П╨╡╤В ╤Б╨╛╨▒╨╛╨╣ ╨╛╤В╨╜╨╛╤И╨╡╨╜╨╕╨╡ ╤Б╤Г╨╝╨╝╤Л, ╨╛╤Б╤В╨░╨▓╤И╨╡╨╣╤Б╤П ╨┐╨╛╤Б╨╗╨╡ ╨▓╤Л╨┐╨╗╨░╤В╤Л ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓, ╨║ ╤З╨╕╤Б╤В╨╛╨╣ ╨┐╤А╨╕╨▒╤Л╨╗╨╕ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕. ╨Ъ╨╛╨╝╨┐╨░╨╜╨╕╤П, ╨║╨╛╤В╨╛╤А╨░╤П ╨▓╤Л╨┐╨╗╨░╤З╨╕╨▓╨░╨╡╤В ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╤Л ╨▓ ╤А╨░╨╖╨╝╨╡╤А╨╡ 20 ╨╝╨╕╨╗╨╗╨╕╨╛╨╜╨╛╨▓ ╨┤╨╛╨╗╨╗╨░╤А╨╛╨▓ ╨б╨и╨Р ╨╕╨╖ 100 ╨╝╨╕╨╗╨╗╨╕╨╛╨╜╨╛╨▓ ╨┤╨╛╨╗╨╗╨░╤А╨╛╨▓ ╤З╨╕╤Б╤В╨╛╨╣ ╨┐╤А╨╕╨▒╤Л╨╗╨╕, ╨╕╨╝╨╡╨╡╤В ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨╛╤В╨║╨░╤В╨░ 0,8.

╨н╤В╨╛╤В ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╤Г╨║╨░╨╖╤Л╨▓╨░╨╡╤В ╤А╨░╨╖╨╝╨╡╤А ╨┐╤А╨╕╨▒╤Л╨╗╨╕, ╤Г╨┤╨╡╤А╨╢╨╕╨▓╨░╨╡╨╝╨╛╨╣ ╨▓ ╨▒╨╕╨╖╨╜╨╡╤Б╨╡, ╨▓╨╝╨╡╤Б╤В╨╛ ╤В╨╛╨│╨╛, ╤З╤В╨╛╨▒╤Л ╨▓╤Л╨┐╨╗╨░╤З╨╕╨▓╨░╤В╤М╤Б╤П ╨╕╨╜╨▓╨╡╤Б╤В╨╛╤А╨░╨╝. ╨Ю╨▒╤Л╤З╨╜╨╛ ╨╛╨╜ ╨┐╤А╨╡╨┤╤Б╤В╨░╨▓╨╗╤П╨╡╤В ╤Б╨╛╨▒╨╛╨╣ ╤З╨░╤Б╤В╤М ╨╜╨╡╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╨╡╨╜╨╜╨╛╨╣ ╨┐╤А╨╕╨▒╤Л╨╗╨╕. ╨Ю╨╜ ╨┐╨╛╨║╨░╨╖╨░╨╜ ╨║╨░╨║ ╤З╨░╤Б╤В╤М ╤Б╨╛╨▒╤Б╤В╨▓╨╡╨╜╨╜╨╛╨│╨╛ ╨║╨░╨┐╨╕╤В╨░╨╗╨░ ╨▓ ╨┐╨░╤Б╤Б╨╕╨▓╨╡ ╨▒╨░╨╗╨░╨╜╤Б╨░ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕. ╨з╨╕╤В╨░╤В╤М ╨┤╨░╨╗╨╡╨╡, ╨║╨╛╤В╨╛╤А╨░╤П ╨╝╨╛╨│╨╗╨░ ╨▒╤Л╤В╤М ╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╨╡╨╜╨░ ╨▓ ╨▓╨╕╨┤╨╡ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓. ╨Э╨░╨┐╤А╨╕╨╝╨╡╤А, ╤Д╨╕╤А╨╝╨░, ╨╕╨╝╨╡╤О╤Й╨░╤П ╨╛╤В╨║╨░╤В, ╤Б╨║╨░╨╢╨╡╨╝, 1,5%, ╤Г╨║╨░╨╖╤Л╨▓╨░╨╡╤В ╨╜╨░ ╤В╨╛, ╤З╤В╨╛ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╤Л ╨▒╤Л╨╗╨╕ ╨▓╤Л╨┐╨╗╨░╤З╨╡╨╜╤Л ╨╖╨╜╨░╤З╨╕╤В╨╡╨╗╤М╨╜╨╛ ╨╝╨╡╨╜╤М╤И╨╡ ╨╕╨╗╨╕ ╤Б╨╛╨▓╤Б╨╡╨╝ ╨╜╨╡ ╨▓╤Л╨┐╨╗╨░╤З╨╡╨╜╤Л, ╨░ ╨▒╨╛╨╗╤М╤И╨░╤П ╤З╨░╤Б╤В╤М ╨┐╤А╨╕╨▒╤Л╨╗╨╕ ╨▒╤Л╨╗╨░ ╤Б╨╛╤Е╤А╨░╨╜╨╡╨╜╨░ ╨┤╨╗╤П ╤А╨░╤Б╤И╨╕╤А╨╡╨╜╨╕╤П ╨▒╨╕╨╖╨╜╨╡╤Б╨░.

╨Э╨╕╨╢╨╡ ╨╝╤Л ╨╛╤В╨╝╨╡╤З╨░╨╡╨╝, ╤З╤В╨╛ ╤Г Amazon ╨╕ Google ╨╛╤В╨║╨░╤В ╤Б╨╛╤Б╤В╨░╨▓╨╗╤П╨╡╤В 100% (╨╛╨╜╨╕ ╤Б╨╛╤Е╤А╨░╨╜╤П╤О╤В 100% ╨┐╤А╨╕╨▒╤Л╨╗╨╕ ╨┤╨╗╤П ╤А╨╡╨╕╨╜╨▓╨╡╤Б╤В╨╕╤А╨╛╨▓╨░╨╜╨╕╤П), ╤В╨╛╨│╨┤╨░ ╨║╨░╨║ ╨╛╤В╨║╨░╤В ╤Г Colgate ╤Б╨╛╤Б╤В╨░╨▓╨╗╤П╨╡╤В 38,22% ╨▓ 2016 ╨│╨╛╨┤╤Г.

Программы для Windows, мобильные приложения, игры - ВСЁ БЕСПЛАТНО, в нашем закрытом телеграмм канале - Подписывайтесь:)

╨Ю╨│╨╗╨░╨▓╨╗╨╡╨╜╨╕╨╡

╨Ъ╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╤Г╨┤╨╡╤А╨╢╨╕╨▓╨░╨╜╨╕╤П-╨╛╤В╨▓╨╛╨┤╨░

╨Я╤А╨╡╨┤╨┐╨╛╨╗╨╛╨╢╨╕╨╝, ╨║╨╛╨╝╨┐╨░╨╜╨╕╤П ┬л╨Р┬╗ ╤Б╨╛╨╛╨▒╤Й╨╕╨╗╨░ ╨╛ ╨┐╤А╨╕╨▒╤Л╨╗╨╕ ╨╜╨░ ╨░╨║╤Ж╨╕╤О ╨▓ ╤А╨░╨╖╨╝╨╡╤А╨╡ 10 ╨┤╨╛╨╗╨╗╨░╤А╨╛╨▓ ╨╕ ╤А╨╡╤И╨╕╨╗╨░ ╨▓╤Л╨┐╨╗╨░╤В╨╕╤В╤М 2 ╨┤╨╛╨╗╨╗╨░╤А╨░ ╨▓ ╨▓╨╕╨┤╨╡ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓. ╨Я╤А╨╕ ╤Г╨║╨░╨╖╨░╨╜╨╜╨╛╨╝ ╨▓╤Л╤И╨╡ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨╡ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨▓╤Л╨┐╨╗╨░╤В╤Л ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓ ╤Б╨╛╤Б╤В╨░╨▓╨╗╤П╨╡╤В: 2 ╨┤╨╛╨╗╨╗╨░╤А╨░ ╨б╨и╨Р / 10 ╨┤╨╛╨╗╨╗╨░╤А╨╛╨▓ ╨б╨и╨Р = 20%

╨н╤В╨╛ ╨╛╨╖╨╜╨░╤З╨░╨╡╤В, ╤З╤В╨╛ ╨║╨╛╨╝╨┐╨░╨╜╨╕╤П ┬л╨Р┬╗ ╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╨╕╨╗╨░ 20% ╤Б╨▓╨╛╨╡╨│╨╛ ╨┤╨╛╤Е╨╛╨┤╨░ ╨▓ ╨▓╨╕╨┤╨╡ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓, ╨░ ╨╛╤Б╤В╨░╨╗╤М╨╜╨╛╨╡ ╤А╨╡╨╕╨╜╨▓╨╡╤Б╤В╨╕╤А╨╛╨▓╨░╨╗╨░ ╨▓ ╨║╨╛╨╝╨┐╨░╨╜╨╕╤О, ╤В. ╨╡. 80% ╨┤╨╡╨╜╨╡╨│ ╨▒╤Л╨╗╨╛ ╨▓╨╗╨╛╨╢╨╡╨╜╨╛ ╨╛╨▒╤А╨░╤В╨╜╨╛ ╨▓ ╨║╨╛╨╝╨┐╨░╨╜╨╕╤О. ╨в╨░╨║╨╕╨╝ ╨╛╨▒╤А╨░╨╖╨╛╨╝,

╨д╨╛╤А╨╝╤Г╨╗╨░ ╨╛╤В╨┤╨░╤З╨╕ = 1 тАУ (2 ╨┤╨╛╨╗╨╗╨░╤А╨░ / 10 ╨┤╨╛╨╗╨╗╨░╤А╨╛╨▓) = 1тАУ 0,20 = 0,80 = 80%

╨н╤В╨░ ╤Д╨╛╤А╨╝╤Г╨╗╨░ ╨┐╨╛╨║╨░╨╖╤Л╨▓╨░╨╡╤В, ╨║╨░╨║╨░╤П ╤З╨░╤Б╤В╤М ╨┐╤А╨╕╨▒╤Л╨╗╨╕ ╤А╨╡╨╕╨╜╨▓╨╡╤Б╤В╨╕╤А╤Г╨╡╤В╤Б╤П ╨▓ ╤А╨░╨╖╨▓╨╕╤В╨╕╨╡ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕, ╨░ ╨╜╨╡ ╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╤П╨╡╤В╤Б╤П ╨▓ ╨║╨░╤З╨╡╤Б╤В╨▓╨╡ ╨┤╨╛╤Е╨╛╨┤╨░ ╨┤╨╗╤П ╨╕╨╜╨▓╨╡╤Б╤В╨╛╤А╨╛╨▓.

  • ╨Ч╨░ ╨▒╨╛╨╗╨╡╨╡ ╨▓╤Л╤Б╨╛╨║╨╛╨╣ ╨╛╤В╨┤╨░╤З╨╡╨╣ ╨╛╨▒╤Л╤З╨╜╨╛ ╤Б╨╗╨╡╨┤╤Г╤О╤В ╨▒╤Л╤Б╤В╤А╨╛╤А╨░╤Б╤В╤Г╤Й╨╕╨╡ ╨╕ ╨┤╨╕╨╜╨░╨╝╨╕╤З╨╜╤Л╨╡ ╨┐╤А╨╡╨┤╨┐╤А╨╕╤П╤В╨╕╤П, ╨║╨╛╤В╨╛╤А╤Л╨╡ ╨▓╨╡╤А╤П╤В ╨▓ ╤Г╤Б╤В╨╛╨╣╤З╨╕╨▓╤Л╨╡ ╤Н╨║╨╛╨╜╨╛╨╝╨╕╤З╨╡╤Б╨║╨╕╨╡ ╤Г╤Б╨╗╨╛╨▓╨╕╤П ╨╕ ╨┐╨╛╤Б╤В╨╛╤П╨╜╨╜╤Л╨╡ ╨┐╨╡╤А╨╕╨╛╨┤╤Л ╨▒╤Л╤Б╤В╤А╨╛╨│╨╛ ╤А╨╛╤Б╤В╨░.
  • ╨Ч╤А╨╡╨╗╤Л╨╡ ╨┐╤А╨╡╨┤╨┐╤А╨╕╤П╤В╨╕╤П ╨╛╨▒╤Л╤З╨╜╨╛ ╨╕╤Б╨┐╨╛╨╗╤М╨╖╤Г╤О╤В ╨▒╨╛╨╗╨╡╨╡ ╨╜╨╕╨╖╨║╨╕╨╣ ╤Г╤А╨╛╨▓╨╡╨╜╤М ╨╛╤В╨┤╨░╤З╨╕, ╤З╤В╨╛ ╤Г╨║╨░╨╖╤Л╨▓╨░╨╡╤В ╨╜╨░ ╨╜╨░╨╗╨╕╤З╨╕╨╡ ╨┤╨╛╤Б╤В╨░╤В╨╛╤З╨╜╤Л╤Е ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╤Е ╨╖╨░╨┐╨░╤Б╨╛╨▓ ╨╕ ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╨╛╤Б╤В╨╕ ╤Г╤Б╤В╨╛╨╣╤З╨╕╨▓╨╛╨│╨╛ ╤А╨╛╤Б╤В╨░ ╨▒╨╕╨╖╨╜╨╡╤Б╨░.

╨Т╨╗╨╕╤П╨╜╨╕╨╡

╨а╨░╨╖╨╝╨╡╤А ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨░ ╨╛╤В╨┤╨░╤З╨╕ ╨┐╤А╨╕╨▓╨╗╨╡╤З╨╡╤В ╤А╨░╨╖╨╗╨╕╤З╨╜╤Л╨╡ ╤В╨╕╨┐╤Л ╨║╨╗╨╕╨╡╨╜╤В╨╛╨▓/╨╕╨╜╨▓╨╡╤Б╤В╨╛╤А╨╛╨▓.

  • ╨Ш╨╜╨▓╨╡╤Б╤В╨╛╤А╤Л, ╨╛╤А╨╕╨╡╨╜╤В╨╕╤А╨╛╨▓╨░╨╜╨╜╤Л╨╡ ╨╜╨░ ╨┤╨╛╤Е╨╛╨┤, ╨╛╨╢╨╕╨┤╨░╤О╤В ╨▒╨╛╨╗╨╡╨╡ ╨╜╨╕╨╖╨║╨╛╨│╨╛ ╨╛╤В╨║╨░╤В╨░, ╨┐╨╛╤Б╨║╨╛╨╗╤М╨║╤Г ╤Н╤В╨╛ ╨┐╤А╨╡╨┤╨┐╨╛╨╗╨░╨│╨░╨╡╤В ╨▓╤Л╤Б╨╛╨║╨╕╨╡ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╜╤Л╨╡ ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╨╛╤Б╤В╨╕ ╨┤╨╗╤П ╨░╨║╤Ж╨╕╨╛╨╜╨╡╤А╨╛╨▓.
  • ╨Ш╨╜╨▓╨╡╤Б╤В╨╛╤А╤Л, ╨╛╤А╨╕╨╡╨╜╤В╨╕╤А╨╛╨▓╨░╨╜╨╜╤Л╨╡ ╨╜╨░ ╤А╨╛╤Б╤В, ╨┐╤А╨╡╨┤╨┐╨╛╤З╨╕╤В╨░╤О╤В ╨▓╤Л╤Б╨╛╨║╨╕╨╣ ╨╛╤В╨║╨░╤В, ╨┐╨╛╨┤╤А╨░╨╖╤Г╨╝╨╡╨▓╨░╤П, ╤З╤В╨╛ ╨▒╨╕╨╖╨╜╨╡╤Б/╤Д╨╕╤А╨╝╨░ ╨╕╨╝╨╡╨╡╤В ╨┐╤А╨╕╨▒╤Л╨╗╤М╨╜╨╛╨╡ ╨▓╨╜╤Г╤В╤А╨╡╨╜╨╜╨╡╨╡ ╨╕╤Б╨┐╨╛╨╗╤М╨╖╨╛╨▓╨░╨╜╨╕╨╡ ╤Б╨▓╨╛╨╡╨╣ ╨┐╤А╨╕╨▒╤Л╨╗╨╕. ╨н╤В╨╛, ╨▓ ╤Б╨▓╨╛╤О ╨╛╤З╨╡╤А╨╡╨┤╤М, ╨┐╤А╨╕╨▓╨╡╨┤╨╡╤В ╨║ ╤А╨╛╤Б╤В╤Г ╤Ж╨╡╨╜ ╨╜╨░ ╨░╨║╤Ж╨╕╨╕.

╨Ъ╨╛╨│╨┤╨░ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨▓╨╛╨╖╨▓╤А╨░╤В╨░ ╨▒╨╗╨╕╨╖╨╛╨║ ╨║ 0%, ╤Б╤Г╤Й╨╡╤Б╤В╨▓╤Г╨╡╤В ╨▒╨╛╨╗╤М╤И╨░╤П ╨▓╨╡╤А╨╛╤П╤В╨╜╨╛╤Б╤В╤М ╤В╨╛╨│╨╛, ╤З╤В╨╛ ╤Д╨╕╤А╨╝╨░ ╨╜╨╡ ╤Б╨╝╨╛╨╢╨╡╤В ╨┐╨╛╨┤╨┤╨╡╤А╨╢╨╕╨▓╨░╤В╤М ╤В╨╡╨║╤Г╤Й╨╕╨╣ ╤Г╤А╨╛╨▓╨╡╨╜╤М ╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╨╡╨╜╨╕╤П ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓, ╨┐╨╛╤Б╨║╨╛╨╗╤М╨║╤Г ╨╛╨╜╨░ ╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╤П╨╡╤В ╨▓╤Б╤О ╨┐╤А╨╕╨▒╤Л╨╗╤М ╨╛╨▒╤А╨░╤В╨╜╨╛ ╨╕╨╜╨▓╨╡╤Б╤В╨╛╤А╨░╨╝. ╨в╨░╨║╨╕╨╝ ╨╛╨▒╤А╨░╨╖╨╛╨╝, ╨╜╨╡╤В ╨┤╨╛╤Б╤В╨░╤В╨╛╤З╨╜╤Л╤Е ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╤Е ╤Б╤А╨╡╨┤╤Б╤В╨▓ ╨┤╨╗╤П ╨┐╨╛╨┤╨┤╨╡╤А╨╢╨║╨╕ ╨┐╨╛╤В╤А╨╡╨▒╨╜╨╛╤Б╤В╨╡╨╣ ╨▒╨╕╨╖╨╜╨╡╤Б╨░ ╨▓ ╨║╨░╨┐╨╕╤В╨░╨╗╨╡.

╨Ю╨┤╨╜╨░ ╨╕╨╖ ╨▓╨░╨╢╨╜╨╡╨╣╤И╨╕╤Е ╨┐╤А╨╛╨▒╨╗╨╡╨╝, ╤Б╨▓╤П╨╖╨░╨╜╨╜╤Л╤Е ╤Б ╨╛╤В╨║╨░╤В╨╛╨╝, ╨╖╨░╨║╨╗╤О╤З╨░╨╡╤В╤Б╤П ╨▓ ╤В╨╛╨╝, ╤З╤В╨╛ ╨┐╤А╨╕╨▒╤Л╨╗╤М ╨╜╨░ ╨░╨║╤Ж╨╕╤О ╨╜╨╡ ╨╛╨▒╤П╨╖╨░╤В╨╡╨╗╤М╨╜╨╛ ╤Б╨╛╨╛╤В╨▓╨╡╤В╤Б╤В╨▓╤Г╨╡╤В ╨┤╨╡╨╜╨╡╨╢╨╜╨╛╨╝╤Г ╨┐╨╛╤В╨╛╨║╤Г ╨╜╨░ ╨░╨║╤Ж╨╕╤О. ╨Ф╨╡╨╜╨╡╨╢╨╜╤Л╨╣ ╨┐╨╛╤В╨╛╨║ ╨╜╨░ ╨░╨║╤Ж╨╕╤О ╨Ф╨╡╨╜╨╡╨╢╨╜╤Л╨╣ ╨┐╨╛╤В╨╛╨║ ╨╜╨░ ╨░╨║╤Ж╨╕╤О ╨┐╨╛╨║╨░╨╖╤Л╨▓╨░╨╡╤В ╤З╨░╤Б╤В╤М ╨┤╨╡╨╜╨╡╨╢╨╜╨╛╨│╨╛ ╨┐╨╛╤В╨╛╨║╨░ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕, ╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╨╡╨╜╨╜╤Г╤О ╨┐╨╛ ╨║╨░╨╢╨┤╨╛╨╣ ╨╕╨╖ ╨╛╨▒╤Л╨║╨╜╨╛╨▓╨╡╨╜╨╜╤Л╤Е ╨░╨║╤Ж╨╕╨╣, ╨┐╤А╨╡╨┤╤Б╤В╨░╨▓╨╗╨╡╨╜╨╜╤Л╤Е ╨▓ ╨╛╤В╤З╨╡╤В╨╡. ╨║╨╛╨╝╨┐╨░╨╜╨╕╤П. ╨Ф╨╡╨╜╨╡╨╢╨╜╤Л╨╣ ╨┐╨╛╤В╨╛╨║ ╨╜╨░ ╨░╨║╤Ж╨╕╤О = (╨╛╨┐╨╡╤А╨░╤Ж╨╕╨╛╨╜╨╜╤Л╨╣ ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╨╣ ╨┐╨╛╤В╨╛╨║ тАУ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╤Л ╨┐╨╛ ╨┐╤А╨╕╨▓╨╕╨╗╨╡╨│╨╕╤А╨╛╨▓╨░╨╜╨╜╤Л╨╝ ╨░╨║╤Ж╨╕╤П╨╝)/╤Б╤А╨╡╨┤╨╜╨╡╨▓╨╖╨▓╨╡╤И╨╡╨╜╨╜╨╛╨╡ ╨║╨╛╨╗╨╕╤З╨╡╤Б╤В╨▓╨╛ ╨░╨║╤Ж╨╕╨╣. ╨г╨╖╨╜╨░╨╣╤В╨╡ ╨▒╨╛╨╗╤М╤И╨╡, ╤В╨░╨║ ╨║╨░╨║ ╤Б╤Г╨╝╨╝╨░ ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╤Е ╤Б╤А╨╡╨┤╤Б╤В╨▓, ╨┤╨╛╤Б╤В╤Г╨┐╨╜╤Л╤Е ╨┤╨╗╤П ╨▓╤Л╨┐╨╗╨░╤В╤Л ╨▓ ╨║╨░╤З╨╡╤Б╤В╨▓╨╡ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓, ╨╜╨╡ ╨▓╤Б╨╡╨│╨┤╨░ ╤Б╨╛╨╛╤В╨▓╨╡╤В╤Б╤В╨▓╤Г╨╡╤В ╨║╨╛╨╗╨╕╤З╨╡╤Б╤В╨▓╤Г ╨┐╤А╨╕╨▒╤Л╨╗╨╕. ╨н╤В╨╛ ╤Г╨║╨░╨╖╤Л╨▓╨░╨╡╤В ╨╜╨░ ╤В╨╛, ╤З╤В╨╛ ╤Б╨╛╨▓╨╡╤В ╨┤╨╕╤А╨╡╨║╤В╨╛╤А╨╛╨▓╨б╨╛╨▓╨╡╤В ╨┤╨╕╤А╨╡╨║╤В╨╛╤А╨╛╨▓╨б╨╛╨▓╨╡╤В ╨┤╨╕╤А╨╡╨║╤В╨╛╤А╨╛╨▓ (╨б╨Ф) ╨╛╤В╨╜╨╛╤Б╨╕╤В╤Б╤П ╨║ ╨║╨╛╤А╨┐╨╛╤А╨░╤В╨╕╨▓╨╜╨╛╨╝╤Г ╨╛╤А╨│╨░╨╜╤Г, ╤Б╨╛╤Б╤В╨╛╤П╤Й╨╡╨╝╤Г ╨╕╨╖ ╨│╤А╤Г╨┐╨┐╤Л ╨╕╨╖╨▒╤А╨░╨╜╨╜╤Л╤Е ╨╗╤О╨┤╨╡╨╣, ╨║╨╛╤В╨╛╤А╤Л╨╡ ╨┐╤А╨╡╨┤╤Б╤В╨░╨▓╨╗╤П╤О╤В ╨╕╨╜╤В╨╡╤А╨╡╤Б╤Л ╨░╨║╤Ж╨╕╨╛╨╜╨╡╤А╨╛╨▓ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕. ╨б╨╛╨▓╨╡╤В ╨╛╨▒╤А╨░╨╖╤Г╨╡╤В ╨▓╨╡╤А╤Е╨╜╨╕╨╣ ╤Г╤А╨╛╨▓╨╡╨╜╤М ╨╕╨╡╤А╨░╤А╤Е╨╕╨╕ ╨╕ ╤Д╨╛╨║╤Г╤Б╨╕╤А╤Г╨╡╤В╤Б╤П ╨╜╨░ ╨╛╨▒╨╡╤Б╨┐╨╡╤З╨╡╨╜╨╕╨╕ ╤Н╤Д╤Д╨╡╨║╤В╨╕╨▓╨╜╨╛╨│╨╛ ╨┤╨╛╤Б╤В╨╕╨╢╨╡╨╜╨╕╤П ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╡╨╣ ╤Б╨▓╨╛╨╕╤Е ╤Ж╨╡╨╗╨╡╨╣. ╨з╨╕╤В╨░╤В╤М ╨┤╨░╨╗╨╡╨╡ ╨╜╨╡ ╨▓╤Б╨╡╨│╨┤╨░ ╨╝╨╛╨│╤Г╤В ╨▒╤Л╤В╤М ╨╜╨░╨╗╨╕╤З╨╜╤Л╨╡ ╨┤╨╡╨╜╤М╨│╨╕ ╨┤╨╗╤П ╨▓╤Л╨┐╨╗╨░╤В╤Л ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓, ╨║╨╛╤В╨╛╤А╤Л╨╡ ╤Г╨║╨░╨╖╨░╨╜╤Л ╨▓ ╤Ж╨╕╤Д╤А╨╡ ╨┐╤А╨╕╨▒╤Л╨╗╨╕ ╨╜╨░ ╨░╨║╤Ж╨╕╤О.

  • ╨б╨╗╨╡╨┤╤Г╨╡╤В ╨╛╤В╨╝╨╡╤В╨╕╤В╤М, ╤З╤В╨╛ ╨▓╤Л╨▒╨╛╤А ╨╝╨╡╤В╨╛╨┤╨╛╨▓ ╤Г╤З╨╡╤В╨░╨Ь╨╡╤В╨╛╨┤╤Л ╤Г╤З╨╡╤В╨░╨Ь╨╡╤В╨╛╨┤╤Л ╤Г╤З╨╡╤В╨░ ╨╛╨┐╤А╨╡╨┤╨╡╨╗╤П╤О╤В ╨╜╨░╨▒╨╛╤А ╨┐╤А╨░╨▓╨╕╨╗ ╨╕ ╨┐╤А╨╛╤Ж╨╡╨┤╤Г╤А, ╨║╨╛╤В╨╛╤А╤Л╤Е ╨╛╤А╨│╨░╨╜╨╕╨╖╨░╤Ж╨╕╤П ╨┤╨╛╨╗╨╢╨╜╨░ ╨┐╤А╨╕╨┤╨╡╤А╨╢╨╕╨▓╨░╤В╤М╤Б╤П ╨┐╤А╨╕ ╤Г╤З╨╡╤В╨╡ ╨┤╨╛╤Е╨╛╨┤╨╛╨▓ ╨╕ ╤А╨░╤Б╤Е╨╛╨┤╨╛╨▓ ╨▒╨╕╨╖╨╜╨╡╤Б╨░. ╨Ъ╨░╤Б╤Б╨╛╨▓╤Л╨╣ ╤Г╤З╨╡╤В ╨╕ ╤Г╤З╨╡╤В ╨┐╨╛ ╨╝╨╡╤В╨╛╨┤╤Г ╨╜╨░╤З╨╕╤Б╨╗╨╡╨╜╨╕╤П ╤П╨▓╨╗╤П╤О╤В╤Б╤П ╨┤╨▓╤Г╨╝╤П ╨▓╨░╨╢╨╜╤Л╨╝╨╕ ╨╝╨╡╤В╨╛╨┤╨░╨╝╨╕ ╤Г╤З╨╡╤В╨░. ╨з╨╕╤В╨░╤В╤М ╨┤╨░╨╗╨╡╨╡ ╤В╨░╨║╨╢╨╡ ╨╝╨╛╨╢╨╡╤В ╨┐╨╛╨▓╨╗╨╕╤П╤В╤М ╨╜╨░ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨▓╤Л╨┐╨╗╨░╤В╤Л ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓ ╨╕, ╤Б╨╗╨╡╨┤╨╛╨▓╨░╤В╨╡╨╗╤М╨╜╨╛, ╨╜╨░ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╤Л ╨▓╨╛╨╖╨▓╤А╨░╤В╨░. ╨Э╨░╨┐╤А╨╕╨╝╨╡╤А, ╨╝╨╡╤В╨╛╨┤╤Л ╨░╨╝╨╛╤А╤В╨╕╨╖╨░╤Ж╨╕╨╕╨Ь╨╡╤В╨╛╨┤╤Л ╨░╨╝╨╛╤А╤В╨╕╨╖╨░╤Ж╨╕╨╕╨Р╨╝╨╛╤А╤В╨╕╨╖╨░╤Ж╨╕╤П тАФ ╤Н╤В╨╛ ╨╝╨╡╤В╨╛╨┤ ╤Б╨╕╤Б╤В╨╡╨╝╨░╤В╨╕╤З╨╡╤Б╨║╨╛╨│╨╛ ╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╨╡╨╜╨╕╤П, ╨╕╤Б╨┐╨╛╨╗╤М╨╖╤Г╨╡╨╝╤Л╨╣ ╨┤╨╗╤П ╤Г╤З╨╡╤В╨░ ╨╖╨░╤В╤А╨░╤В ╨╜╨░ ╨╗╤О╨▒╤Л╨╡ ╤Д╨╕╨╖╨╕╤З╨╡╤Б╨║╨╕╨╡ ╨╕╨╗╨╕ ╨╝╨░╤В╨╡╤А╨╕╨░╨╗╤М╨╜╤Л╨╡ ╨░╨║╤В╨╕╨▓╤Л ╨╜╨░ ╨┐╤А╨╛╤В╤П╨╢╨╡╨╜╨╕╨╕ ╨▓╤Б╨╡╨│╨╛ ╤Б╤А╨╛╨║╨░ ╨╕╤Е ╨┐╨╛╨╗╨╡╨╖╨╜╨╛╨│╨╛ ╨╕╤Б╨┐╨╛╨╗╤М╨╖╨╛╨▓╨░╨╜╨╕╤П. ╨Х╨│╨╛ ╨╖╨╜╨░╤З╨╡╨╜╨╕╨╡ ╨┐╨╛╨║╨░╨╖╤Л╨▓╨░╨╡╤В, ╨║╨░╨║╨░╤П ╤З╨░╤Б╤В╤М ╤Б╤В╨╛╨╕╨╝╨╛╤Б╤В╨╕ ╨░╨║╤В╨╕╨▓╨░ ╨▒╤Л╨╗╨░ ╨╕╤Б╨┐╨╛╨╗╤М╨╖╨╛╨▓╨░╨╜╨░. ╨Р╨╝╨╛╤А╤В╨╕╨╖╨░╤Ж╨╕╤П ╨┐╨╛╨╖╨▓╨╛╨╗╤П╨╡╤В ╨║╨╛╨╝╨┐╨░╨╜╨╕╤П╨╝ ╨┐╨╛╨╗╤Г╤З╨░╤В╤М ╨┤╨╛╤Е╨╛╨┤ ╨╛╤В ╤Б╨▓╨╛╨╕╤Е ╨░╨║╤В╨╕╨▓╨╛╨▓, ╨▓╨╖╨╕╨╝╨░╤П ╤В╨╛╨╗╤М╨║╨╛ ╤З╨░╤Б╤В╤М ╤Б╤В╨╛╨╕╨╝╨╛╤Б╤В╨╕ ╨░╨║╤В╨╕╨▓╨░, ╨╕╤Б╨┐╨╛╨╗╤М╨╖╤Г╨╡╨╝╨╛╨│╨╛ ╨║╨░╨╢╨┤╤Л╨╣ ╨│╨╛╨┤. ╤З╨╕╤В╨░╤В╤М ╨┤╨░╨╗╨╡╨╡ ╤Б╨╗╨╡╨┤╤Г╤О╤В ╤Д╨╕╤А╨╝╨░ ╨╝╨╛╨╢╨╡╤В ╨╕╨╝╨╡╤В╤М ╨╛╨▒╤Й╨╡╨╡ ╨▓╨╗╨╕╤П╨╜╨╕╨╡. ╨Я╤А╤П╨╝╨╛╨╗╨╕╨╜╨╡╨╣╨╜╤Л╨╣ ╨╝╨╡╤В╨╛╨┤ (SLM) ╨Я╤А╤П╨╝╨╛╨╗╨╕╨╜╨╡╨╣╨╜╤Л╨╣ ╨╝╨╡╤В╨╛╨┤ (SLM) ╨Я╤А╤П╨╝╨╛╨╗╨╕╨╜╨╡╨╣╨╜╤Л╨╣ ╨╝╨╡╤В╨╛╨┤ ╨░╨╝╨╛╤А╤В╨╕╨╖╨░╤Ж╨╕╨╕ ╤П╨▓╨╗╤П╨╡╤В╤Б╤П ╨╛╨┤╨╜╨╕╨╝ ╨╕╨╖ ╨╜╨░╨╕╨▒╨╛╨╗╨╡╨╡ ╨┐╨╛╨┐╤Г╨╗╤П╤А╨╜╤Л╤Е ╨╝╨╡╤В╨╛╨┤╨╛╨▓ ╨░╨╝╨╛╤А╤В╨╕╨╖╨░╤Ж╨╕╨╕, ╨┐╤А╨╕ ╨║╨╛╤В╨╛╤А╨╛╨╝ ╨░╨║╤В╨╕╨▓ ╤А╨░╨▓╨╜╨╛╨╝╨╡╤А╨╜╨╛ ╨░╨╝╨╛╤А╤В╨╕╨╖╨╕╤А╤Г╨╡╤В╤Б╤П ╨▓ ╤В╨╡╤З╨╡╨╜╨╕╨╡ ╤Б╤А╨╛╨║╨░ ╨╡╨│╨╛ ╨┐╨╛╨╗╨╡╨╖╨╜╨╛╨│╨╛ ╨╕╤Б╨┐╨╛╨╗╤М╨╖╨╛╨▓╨░╨╜╨╕╤П, ╨░ ╤Б╤В╨╛╨╕╨╝╨╛╤Б╤В╤М ╨░╨║╤В╨╕╨▓╨░ ╤А╨░╨▓╨╜╨╛╨╝╨╡╤А╨╜╨╛ ╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╤П╨╡╤В╤Б╤П ╨▓ ╤В╨╡╤З╨╡╨╜╨╕╨╡ ╤Б╤А╨╛╨║╨░ ╨╡╨│╨╛ ╨┐╨╛╨╗╨╡╨╖╨╜╨╛╨│╨╛ ╨╕ ╤Д╤Г╨╜╨║╤Ж╨╕╨╛╨╜╨░╨╗╤М╨╜╨╛╨│╨╛ ╨╕╤Б╨┐╨╛╨╗╤М╨╖╨╛╨▓╨░╨╜╨╕╤П. . ╨з╨╕╤В╨░╤В╤М ╨┤╨░╨╗╤М╤И╨╡ ╤Д╨╕╨║╤Б╨╕╤А╤Г╨╡╤В ╨▒╨╛╨╗╤М╤И╤Г╤О ╤Б╤Г╨╝╨╝╤Г ╨░╨╝╨╛╤А╤В╨╕╨╖╨░╤Ж╨╕╨╕ ╨┐╨╛ ╤Б╤А╨░╨▓╨╜╨╡╨╜╨╕╤О ╤Б ╨╝╨╡╤В╨╛╨┤╨░╨╝╨╕ ╤Г╨╝╨╡╨╜╤М╤И╨╡╨╜╨╕╤П ╨╛╤Б╤В╨░╤В╨║╨░ (RBM), ╤З╤В╨╛ ╨╛╨║╨░╨╖╤Л╨▓╨░╨╡╤В ╨╛╨▒╤Й╨╡╨╡ ╨▓╨╗╨╕╤П╨╜╨╕╨╡ ╨╜╨░ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╤Л ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓. ╨Э╨╡╨╛╨▒╤Л╤З╨╜╨╛ ╨╜╨╕╨╖╨║╨╕╨╣ ╨╛╤В╨║╨░╤В ╤Б ╤В╨╡╤З╨╡╨╜╨╕╨╡╨╝ ╨▓╤А╨╡╨╝╨╡╨╜╨╕ ╨╝╨╛╨╢╨╡╤В ╨┐╤А╨╡╨┤╨▓╨╡╤Й╨░╤В╤М ╤Б╨╛╨║╤А╨░╤Й╨╡╨╜╨╕╨╡ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓, ╨║╨╛╨│╨┤╨░ ╨║╨╛╨╝╨┐╨░╨╜╨╕╤П ╤Б╤В╨╛╨╗╨║╨╜╨╡╤В╤Б╤П ╤Б ╨┐╨╛╤В╤А╨╡╨▒╨╜╨╛╤Б╤В╤М╤О ╨▓ ╨╜╨░╨╗╨╕╤З╨╜╤Л╤Е ╨┤╨╡╨╜╤М╨│╨░╤Е.

╨Ф╨░╨▓╨░╨╣╤В╨╡ ╤А╨░╤Б╤Б╨╝╨╛╤В╤А╨╕╨╝ ╨┤╤А╤Г╨│╨╛╨╣ ╨┐╤А╨╕╨╝╨╡╤А, ╨▓╨╖╤П╨▓ ╤Б╤А╨░╨▓╨╜╨╡╨╜╨╕╨╡ 2 ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╣ ╤Б ╨┐╨╛╨╝╨╛╤Й╤М╤О ╤Д╨╛╤А╨╝╤Г╨╗╤Л ╨╛╤В╨┤╨░╤З╨╕ ╨┤╨╗╤П ╨╗╤Г╤З╤И╨╡╨│╨╛ ╨┐╨╛╨╜╨╕╨╝╨░╨╜╨╕╤П:

╨Ъ╨╛╨╝╨┐╨░╨╜╨╕╤П ┬л╨Р┬╗╨Ъ╨╛╨╝╨┐╨░╨╜╨╕╤П «╨С»╨Я╤А╨╕╨▒╤Л╨╗╤М ╨╜╨░ ╨░╨║╤Ж╨╕╤О ╨╖╨░ ╨┐╤А╨╡╨┤╤Л╨┤╤Г╤Й╨╕╨╣ ╨│╨╛╨┤ $3,5 $8,5╨Т╤Л╨┐╨╗╨░╤З╨╡╨╜╨╜╤Л╨╡ ╨▓ ╨┐╤А╨╡╨┤╤Л╨┤╤Г╤Й╨╡╨╝ ╨│╨╛╨┤╤Г ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╤Л ╨╜╨░ ╨░╨║╤Ж╨╕╤О$3,0 $1,5╨Я╤А╨╛╨╝╤Л╤И╨╗╨╡╨╜╨╜╨╛╤Б╤В╤М ╨Ъ╨╛╨╝╨╝╤Г╨╜╨░╨╗╤М╨╜╤Л╨╡ ╤Г╤Б╨╗╤Г╨│╨╕╨в╨╡╤Е╨╜╨╛╨╗╨╛╨│╨╕╨╕╨з╨╕╤Б╤В╤Л╨╣ ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╨╣ ╨┐╨╛╤В╨╛╨║ ╨╛╤В ╨╕╨╜╨▓╨╡╤Б╤В╨╕╤Ж╨╕╨╛╨╜╨╜╨╛╨╣ ╨┤╨╡╤П╤В╨╡╨╗╤М╨╜╨╛╤Б╤В╨╕╨Я╨╛╨╖╨╕╤В╨╕╨▓╨╜╤Л╨╣╨Ю╤В╤А╨╕╤Ж╨░╤В╨╡╨╗╤М╨╜╤Л╨╣

╨Ю╤В╨▓╨╡╤З╨░╤В╤М:

╨Ю╤В╨┤╨░╤З╨░ ╨┤╨╗╤П ╤Д╨╕╤А╨╝╤Л ┬л╨Р┬╗ = [Dividend / EPS] = 3,0 ╨┤╨╛╨╗╨╗. ╨б╨и╨Р / 3,5 ╨┤╨╛╨╗╨╗. ╨б╨и╨Р = 85,71%

╨Ю╤В╨║╨░╤В ╨┤╨╗╤П ╤Д╨╕╤А╨╝╤Л ┬л╨Т┬╗ = 1,5 ╨┤╨╛╨╗╨╗. ╨б╨и╨Р / 8,5 ╨┤╨╛╨╗╨╗. ╨б╨и╨Р = 17,65%

╨Ю╤В╨┤╨░╤З╨░ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕ ┬л╨Р┬╗ ╨┐╤А╨╡╨┤╨┐╨╛╨╗╨░╨│╨░╨╡╤В, ╤З╤В╨╛ ╨╛╨╜╨╕ ╨╕╨╖╨╛ ╨▓╤Б╨╡╤Е ╤Б╨╕╨╗ ╨┐╤Л╤В╨░╨╗╨╕╤Б╤М ╨╜╨░╨╣╤В╨╕ ╨║╨░╨║╨╕╨╡-╨╗╨╕╨▒╨╛ ╨▓╤Л╨│╨╛╨┤╨╜╤Л╨╡ ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╨╛╤Б╤В╨╕. ╨г ╤Д╨╕╤А╨╝╤Л ╨╝╨╛╨╢╨╡╤В ╨▒╤Л╤В╤М ╨╜╨╡ ╤В╨░╨║ ╨╝╨╜╨╛╨│╨╛ ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╨╛╤Б╤В╨╡╨╣, ╨╕ ╨┐╨╛╤Н╤В╨╛╨╝╤Г ╨╛╨╜╨░ ╨▒╤Г╨┤╨╡╤В ╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╤П╤В╤М ╤А╨░╨╖╤Г╨╝╨╜╤Г╤О ╤З╨░╤Б╤В╤М ╤Б╨▓╨╛╨╡╨╣ ╨┐╤А╨╕╨▒╤Л╨╗╨╕ ╨▓ ╨▓╨╕╨┤╨╡ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓. ╨н╤В╨╛ ╤В╨░╨║╨╢╨╡ ╨╝╨╛╨╢╨╡╤В ╨▒╤Л╤В╤М ╨▓╤А╨╡╨╝╨╡╨╜╨╜╨╛╨╣ ╤В╨░╨║╤В╨╕╨║╨╛╨╣, ╤З╤В╨╛╨▒╤Л ╤Г╨┤╨╛╨▓╨╗╨╡╤В╨▓╨╛╤А╨╕╤В╤М ╨╝╨╜╨╛╨│╨╕╤Е ╨░╨║╤Ж╨╕╨╛╨╜╨╡╤А╨╛╨▓ ╨╕ ╨┐╨╛╨▓╤Л╤Б╨╕╤В╤М ╤Ж╨╡╨╜╤Л ╨╜╨░ ╨░╨║╤Ж╨╕╨╕ ╨▓ ╨▒╨╗╨╕╨╢╨░╨╣╤И╨╡╨╝ ╨▒╤Г╨┤╤Г╤Й╨╡╨╝.

╨Ю╤В╨╜╨╛╤Б╨╕╤В╨╡╨╗╤М╨╜╨╛ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕ ┬лB┬╗ ╨▒╨╛╨╗╨╡╨╡ ╨╜╨╕╨╖╨║╨╕╨╣ ╨╛╤В╨║╨░╤В ╨╕ ╨╛╤В╤А╨╕╤Ж╨░╤В╨╡╨╗╤М╨╜╤Л╨╡ ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╨╡ ╨┐╨╛╤В╨╛╨║╨╕. ╨Ю╤В╤А╨╕╤Ж╨░╤В╨╡╨╗╤М╨╜╤Л╨╡ ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╨╡ ╨┐╨╛╤В╨╛╨║╨╕. ╨Ю╤В╤А╨╕╤Ж╨░╤В╨╡╨╗╤М╨╜╤Л╨╣ ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╨╣ ╨┐╨╛╤В╨╛╨║ ╨╛╤В╨╜╨╛╤Б╨╕╤В╤Б╤П ╨║ ╤Б╨╕╤В╤Г╨░╤Ж╨╕╨╕, ╨║╨╛╨│╨┤╨░ ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╨╡ ╤А╨░╤Б╤Е╨╛╨┤╤Л ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕ ╨┐╤А╨╡╨▓╤Л╤И╨░╤О╤В ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╨╡ ╨┐╨╛╤Б╤В╤Г╨┐╨╗╨╡╨╜╨╕╤П ╨▓ ╨║╨╛╨╜╨║╤А╨╡╤В╨╜╤Л╨╣ ╤А╨░╤Б╤Б╨╝╨░╤В╤А╨╕╨▓╨░╨╡╨╝╤Л╨╣ ╨┐╨╡╤А╨╕╨╛╨┤. ╨н╤В╨╛ ╨╛╨╖╨╜╨░╤З╨░╨╡╤В, ╤З╤В╨╛ ╨╛╨▒╤Й╨╕╨╣ ╨┐╤А╨╕╤В╨╛╨║ ╨┤╨╡╨╜╨╡╨╢╨╜╤Л╤Е ╤Б╤А╨╡╨┤╤Б╤В╨▓ ╨╛╤В ╤А╨░╨╖╨╗╨╕╤З╨╜╤Л╤Е ╤А╨░╤Б╤Б╨╝╨░╤В╤А╨╕╨▓╨░╨╡╨╝╤Л╤Е ╨▓╨╕╨┤╨╛╨▓ ╨┤╨╡╤П╤В╨╡╨╗╤М╨╜╨╛╤Б╤В╨╕ ╨╝╨╡╨╜╤М╤И╨╡, ╤З╨╡╨╝ ╨╛╨▒╤Й╨╕╨╣ ╨╛╤В╤В╨╛╨║ ╨╖╨░ ╤В╨╛╤В ╨╢╨╡ ╨┐╨╡╤А╨╕╨╛╨┤. ╨Я╨╛╨┤╤А╨╛╨▒╨╜╨╡╨╡ ╨┐╨╛╨┤╤З╨╡╤А╨║╨╜╨╕╤В╨╡ ╤В╨╛╤В ╤Д╨░╨║╤В, ╤З╤В╨╛ ╨╛╨╜╨╕ ╨▓╨╗╨╛╨╢╨╕╨╗╨╕ ╨╖╨╜╨░╤З╨╕╤В╨╡╨╗╤М╨╜╤Л╨╡ ╤Б╤А╨╡╨┤╤Б╤В╨▓╨░ ╨▓ ╤Д╤Г╤В╤Г╤А╨╕╤Б╤В╨╕╤З╨╡╤Б╨║╨╕╨╡ ╨┐╤А╨╛╨╡╨║╤В╤Л ╨╕, ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╨╛, ╤Б╨╛╤Е╤А╨░╨╜╨╕╨╗╨╕ ╨┤╨╛╤Б╤В╨░╤В╨╛╤З╨╜╤Л╨╡ ╨┤╨╛╤Е╨╛╨┤╤Л ╨┤╨╗╤П ╨▒╤Г╨┤╤Г╤Й╨╕╤Е ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╨╛╤Б╤В╨╡╨╣.

Apple тАУ ╨░╨╜╨░╨╗╨╕╨╖ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨░ ╨╛╤В╨┤╨░╤З╨╕

╨Ф╨░╨▓╨░╨╣╤В╨╡ ╤А╨░╤Б╤Б╨╝╨╛╤В╤А╨╕╨╝ ╨┐╤А╨░╨║╤В╨╕╤З╨╡╤Б╨║╨╕╨╣ ╨┐╤А╨╕╨╝╨╡╤А, ╤З╤В╨╛╨▒╤Л ╨╗╤Г╤З╤И╨╡ ╨┐╨╛╨╜╤П╤В╤М Plowback тАФ

Apple-Retention-Plowback-Ratio

╨╕╤Б╤В╨╛╤З╨╜╨╕╨║: ╨╣╤З╨░╤А╤В╤Л

Items20122013201420152016Dividends ($ bn)2.4910.5611.1311.5612.15Net Income ($bn)41.7337.0439.5153.3945.69Dividend Payout Ratio6.0%28.5%28.2%21.7%26.6%Plowback Ratio94.0%71.5%71.8%78.3%73.4%

╨Ф╨╛ 2011 ╨│╨╛╨┤╨░ Apple ╨╜╨╡ ╨▓╤Л╨┐╨╗╨░╤З╨╕╨▓╨░╨╗╨░ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╤Л ╤Б╨▓╨╛╨╕╨╝ ╨╕╨╜╨▓╨╡╤Б╤В╨╛╤А╨░╨╝, ╨░ ╨╡╨╡ ╨╛╤В╨║╨░╤В ╤Б╨╛╤Б╤В╨░╨▓╨╗╤П╨╗ 100%. ╨Я╨╛╤В╨╛╨╝╤Г ╤З╤В╨╛ ╨╛╨╜╨╕ ╤Б╤З╨╕╤В╨░╨╗╨╕, ╤З╤В╨╛ ╨╡╤Б╨╗╨╕ ╨╛╨╜╨╕ ╤А╨╡╨╕╨╜╨▓╨╡╤Б╤В╨╕╤А╤Г╤О╤В ╨┐╤А╨╕╨▒╤Л╨╗╤М, ╤В╨╛ ╤Б╨╝╨╛╨│╤Г╤В ╨┐╨╛╨╗╤Г╤З╨╕╤В╤М ╨▒╨╛╨╗╨╡╨╡ ╨▓╤Л╤Б╨╛╨║╤Г╤О ╨┐╤А╨╕╨▒╤Л╨╗╤М ╨┤╨╗╤П ╨╕╨╜╨▓╨╡╤Б╤В╨╛╤А╨╛╨▓, ╤З╤В╨╛ ╨╛╨╜╨╕ ╨▓ ╨║╨╛╨╜╨╡╤З╨╜╨╛╨╝ ╨╕╤В╨╛╨│╨╡ ╨╕ ╤Б╨┤╨╡╨╗╨░╨╗╨╕. ╨Ю╨┤╨╜╨░╨║╨╛ ╨▓ 2012 ╨│╨╛╨┤╤Г ╨╛╨╜╨╕ ╨╜╨░╤З╨░╨╗╨╕ ╤Б╨╜╨╕╨╢╨░╤В╤М ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨╛╤В╨┤╨░╤З╨╕. Apple ╨┐╨╛╨┤╨┤╨╡╤А╨╢╨╕╨▓╨░╨╡╤В ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╤Г╨┤╨╡╤А╨╢╨░╨╜╨╕╤П. ╨Ъ╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╤Г╨┤╨╡╤А╨╢╨░╨╜╨╕╤П ╨┐╨╛╨║╨░╨╖╤Л╨▓╨░╨╡╤В ╨┐╤А╨╛╤Ж╨╡╨╜╤В ╨┐╤А╨╕╨▒╤Л╨╗╨╕ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕, ╨║╨╛╤В╨╛╤А╨░╤П ╨╜╨╡ ╨▓╤Л╨┐╨╗╨░╤З╨╕╨▓╨░╨╡╤В╤Б╤П ╨▓ ╨▓╨╕╨┤╨╡ ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓, ╨░ ╨╖╨░╤З╨╕╤Б╨╗╤П╨╡╤В╤Б╤П ╨╛╨▒╤А╨░╤В╨╜╨╛ ╨▓ ╨▓╨╕╨┤╨╡ ╨╜╨╡╤А╨░╤Б╨┐╤А╨╡╨┤╨╡╨╗╨╡╨╜╨╜╨╛╨╣ ╨┐╤А╨╕╨▒╤Л╨╗╨╕. ╨н╤В╨╛╤В ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨┐╨╛╨║╨░╨╖╤Л╨▓╨░╨╡╤В, ╨║╨░╨║╨░╤П ╤З╨░╤Б╤В╤М ╨┐╤А╨╕╨▒╤Л╨╗╨╕ ╤Г╨┤╨╡╤А╨╢╨╕╨▓╨░╨╡╤В╤Б╤П ╨▓ ╨║╨░╤З╨╡╤Б╤В╨▓╨╡ ╨┐╤А╨╕╨▒╤Л╨╗╨╕ ╨┤╨╗╤П ╤А╨░╨╖╨▓╨╕╤В╨╕╤П ╤Д╨╕╤А╨╝╤Л. ╨Ч╨░ ╨┐╨╛╤Б╨╗╨╡╨┤╨╜╨╕╨╡ ╤З╨╡╤В╤Л╤А╨╡ ╨│╨╛╨┤╨░ ╨╛╨╜╨░ ╨╜╨░╤Е╨╛╨┤╨╕╨╗╨░╤Б╤М ╨▓ ╨┤╨╕╨░╨┐╨░╨╖╨╛╨╜╨╡ 70-75%.

╨б╤В╨░╨▒╨╕╨╗╤М╨╜╤Л╨╣ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨╛╤В╨║╨░╤В╨░ ╨╝╨╕╤А╨╛╨▓╤Л╤Е ╨▒╨░╨╜╨║╨╛╨▓

╨У╨╗╨╛╨▒╨░╨╗╤М╨╜╤Л╨╡ ╨▒╨░╨╜╨║╨╕ тАФ ╤Н╤В╨╛ ╨║╤А╤Г╨┐╨╜╤Л╨╡ ╨▒╨░╨╜╨║╨╕ ╤Б ╨▒╨╛╨╗╤М╤И╨╛╨╣ ╤А╤Л╨╜╨╛╤З╨╜╨╛╨╣ ╨║╨░╨┐╨╕╤В╨░╨╗╨╕╨╖╨░╤Ж╨╕╨╡╨╣ ╨╕ ╤Б╤В╨░╨▒╨╕╨╗╤М╨╜╤Л╨╝╨╕ ╤В╨╡╨╝╨┐╨░╨╝╨╕ ╤А╨╛╤Б╤В╨░.

S. NoName╨Ъ╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨╛╤В╨┤╨░╤З╨╕ (╨│╨╛╨┤╨╛╨▓╨╛╨╣)1JPMorgan Chase65,70%2Wells Fargo58,80%3Bank of America76,60%4Citigroup84,70%5Royal Bank of Canada52,00%6Banco Santander62,80%7The Toronto-Dominion Bank56,80%8Mitsubishi UFJ Financial68 0,70%9Westpac Banking27,40%10Bank of Nova Scotia49,40%11ING Group49,30%12UBS Group1,20%13BBVA54,00%14Sumitomo Mitsui Financial71,00%

  • ╨Ь╤Л ╨╛╤В╨╝╨╡╤З╨░╨╡╨╝, ╤З╤В╨╛ ╨▒╨╛╨╗╤М╤И╨╕╨╜╤Б╤В╨▓╨╛ ╨╝╨╕╤А╨╛╨▓╤Л╤Е ╨▒╨░╨╜╨║╨╛╨▓ ╨┐╤А╨╕╨┤╨╡╤А╨╢╨╕╨▓╨░╤О╤В╤Б╤П ╨╛╤З╨╡╨╜╤М ╤Б╤В╨░╨▒╨╕╨╗╤М╨╜╨╛╨╣ ╨┐╨╛╨╗╨╕╤В╨╕╨║╨╕ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨░ ╨╛╤В╨║╨░╤В╨░.
  • ╨г JPMorgan ╨╛╤В╨║╨░╤В ╤Б╨╛╤Б╤В╨░╨▓╨╗╤П╨╡╤В 65,70%, ╤В╨╛╨│╨┤╨░ ╨║╨░╨║ ╤Г UBS Group ╨▓╤Б╨╡╨│╨╛ 1,20%.

╨Ш╨╜╤В╨╡╤А╨╜╨╡╤В-╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕ тАУ 100% ╨╛╤В╨║╨░╤В

╨С╨╛╨╗╤М╤И╨╕╨╜╤Б╤В╨▓╨╛ ╤В╨╡╤Е╨╜╨╛╨╗╨╛╨│╨╕╤З╨╡╤Б╨║╨╕╤Е ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╣ ╤П╨▓╨╗╤П╤О╤В╤Б╤П ╨▒╤Л╤Б╤В╤А╨╛╤А╨░╤Б╤В╤Г╤Й╨╕╨╝╨╕ ╤Д╨╕╤А╨╝╨░╨╝╨╕ ╨╕ ╨┐╤А╨╡╨┤╨┐╨╛╤З╨╕╤В╨░╤О╤В ╨╕╨╜╨▓╨╡╤Б╤В╨╕╤А╨╛╨▓╨░╤В╤М ╨┐╨╛╨╗╤Г╤З╨╡╨╜╨╜╤Г╤О ╨┐╤А╨╕╨▒╤Л╨╗╤М ╨▓ ╤Б╨▓╨╛╨╕ ╨┐╤А╨╛╨┤╤Г╨║╤В╤Л. ╨Э╨╕╨╢╨╡ ╨┐╤А╨╡╨┤╤Б╤В╨░╨▓╨╗╨╡╨╜╤Л ╤В╨╡╤Е╨╜╨╛╨╗╨╛╨│╨╕╤З╨╡╤Б╨║╨╕╨╡ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕ ╤Б ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨╛╨╝ Plowback, ╤А╨░╨▓╨╜╤Л╨╝ 100%.

S. NoName╨Ъ╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨╛╤В╨┤╨░╤З╨╕ (╨│╨╛╨┤╨╛╨▓╨╛╨╣)1Alphabet100%2Facebook100%3Baidu100%4JD.com100%5Altaba100%6Snap100%7Weibo100%8Twitter100%9VeriSign100%10Yandex100%11IAC/InterActive100%12Momo100%

╨Я╤А╨╡╨╕╨╝╤Г╤Й╨╡╤Б╤В╨▓╨░

  • ╨Ю╨┤╨╜╨╕╨╝ ╨╕╨╖ ╨╜╨░╨╕╨▒╨╛╨╗╨╡╨╡ ╨╖╨╜╨░╤З╨╕╤В╨╡╨╗╤М╨╜╤Л╤Е ╨┐╤А╨╡╨╕╨╝╤Г╤Й╨╡╤Б╤В╨▓ ╤Н╤В╨╛╨│╨╛ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨░ ╤П╨▓╨╗╤П╨╡╤В╤Б╤П ╤В╨╛, ╤З╤В╨╛ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В Plowback ╨╛╤В╨╜╨╛╤Б╨╕╤В╨╡╨╗╤М╨╜╨╛ ╨╗╨╡╨│╨║╨╛ ╨┐╨╛╨╜╤П╤В╤М ╨╕ ╤А╨░╤Б╤И╨╕╤Д╤А╨╛╨▓╨░╤В╤М.
  • ╨б╤Г╤Й╨╡╤Б╤В╨▓╤Г╨╡╤В ╨╜╨╡╤Б╨║╨╛╨╗╤М╨║╨╛ ╤Б╨┐╨╛╤Б╨╛╨▒╨╛╨▓ ╤А╨░╤Б╤З╨╡╤В╨░ ╤Н╤В╨╛╨│╨╛ ╨╛╤В╨╜╨╛╤И╨╡╨╜╨╕╤П, ╨┐╨╛╤Б╨║╨╛╨╗╤М╨║╤Г ╨╝╨╛╨╢╨╜╨╛ ╨╕╤Б╨┐╨╛╨╗╤М╨╖╨╛╨▓╨░╤В╤М ╨╝╨╜╨╛╨╢╨╡╤Б╤В╨▓╨╛ ╤Д╨╛╤А╨╝╤Г╨╗ Plowback.
  • ╨Ъ╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨╝╨╛╨╢╨╡╤В ╤А╨░╨▒╨╛╤В╨░╤В╤М ╨▓ ╤В╨░╨╜╨┤╨╡╨╝╨╡ ╤Б ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨╛╨╝ ╨▓╤Л╨┐╨╗╨░╤В╤Л ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓, ╤З╤В╨╛╨▒╤Л ╨┐╨╛╨╜╤П╤В╤М ╨▒╤Г╨┤╤Г╤Й╨╕╨╡ ╨╜╨░╨╝╨╡╤А╨╡╨╜╨╕╤П ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕.

╨Э╨╡╨┤╨╛╤Б╤В╨░╤В╨║╨╕

  • ╨а╨╛╤Б╤В ╤Д╨╕╤А╨╝╤Л ╨╜╨╡ ╨╝╨╛╨╢╨╡╤В ╨▒╤Л╤В╤М ╤Г╤Б╤В╨░╨╜╨╛╨▓╨╗╨╡╨╜ ╨╕╤Б╨║╨╗╤О╤З╨╕╤В╨╡╨╗╤М╨╜╨╛ ╤Б ╨┐╨╛╨╝╨╛╤Й╤М╤О ╤Н╤В╨╛╨│╨╛ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨░, ╨╜╨╛ ╤В╨░╨║╨╢╨╡ ╨╕ ╨┐╨╛╨║╨░╨╖╨░╤В╨╡╨╗╨╡╨╣ ╨┤╤А╤Г╨│╨╕╤Е ╤Б╨╡╨║╤В╨╛╤А╨╛╨▓ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕, ╨║╨╛╤В╨╛╤А╤Л╨╡ ╨░╨╜╨░╨╗╨╕╨╖╨╕╤А╤Г╤О╤В╤Б╤П. ╨Э╤Г╨╢╨╜╨╛ ╤В╨░╨║╨╢╨╡ ╨┐╨╛╨╝╨╜╨╕╤В╤М ╨╛ ╤В╨╡╨╝╨┐╨░╤Е ╤А╨╛╤Б╤В╨░ ╨┤╤А╤Г╨│╨╕╤Е ╤Б╨╡╨║╤В╨╛╤А╨╛╨▓, ╨▓╤Е╨╛╨┤╤П╤Й╨╕╤Е ╨▓ ╤Б╨╛╤Б╤В╨░╨▓ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕, ╨╕ ╤Б╨╛╨╛╤В╨▓╨╡╤В╤Б╤В╨▓╨╡╨╜╨╜╨╛ ╨╛╤В╨║╨╗╨░╨┤╤Л╨▓╨░╤В╤М ╨┤╨╡╨╜╤М╨│╨╕.
  • ╨з╨╡╨╝ ╨▓╤Л╤И╨╡ Plowback, ╤В╨╡╨╝ ╤Б╨╛╨╛╤В╨▓╨╡╤В╤Б╤В╨▓╨╡╨╜╨╜╨╛ ╤Г╨▓╨╡╨╗╨╕╤З╨╕╨▓╨░╤О╤В╤Б╤П ╨┐╨╡╤А╤Б╨┐╨╡╨║╤В╨╕╨▓╤Л ╤А╨╛╤Б╤В╨░ ╨▒╨╕╨╖╨╜╨╡╤Б╨░. ╨н╤В╨╛, ╨▓ ╤Б╨▓╨╛╤О ╨╛╤З╨╡╤А╨╡╨┤╤М, ╨╝╨╛╨╢╨╡╤В ╤Б╨╛╨╖╨┤╨░╤В╤М ╨╕╤Б╨║╤Г╤Б╤Б╤В╨▓╨╡╨╜╨╜╤Л╨╣ ╤А╨╛╤Б╤В ╤Ж╨╡╨╜ ╨╜╨░ ╨░╨║╤Ж╨╕╨╕. ╨н╤В╨╛ ╨╝╨╛╨╢╨╡╤В ╨▒╤Л╤В╤М ╨┐╤А╨╛╨▒╨╗╨╡╨╝╨╛╨╣, ╨┐╨╛╤Б╨║╨╛╨╗╤М╨║╤Г ╨░╨║╤Ж╨╕╨╛╨╜╨╡╤А╤Л ╨╝╨╛╨│╤Г╤В ╨╖╨░╤Е╨╛╤В╨╡╤В╤М ╨║╨╛╨╜╤В╤А╨╛╨╗╨╕╤А╨╛╨▓╨░╤В╤М ╨░╨║╤Ж╨╕╨╕ ╨╕ ╤Д╨╕╨╜╨░╨╜╤Б╤Л, ╨║╨╛╤В╨╛╤А╤Л╨╡ ╨╛╨╜╨╕ ╨▓╨╗╨╛╨╢╨╕╨╗╨╕ ╨▓ ╤Д╨╕╤А╨╝╤Г. ╨в╨░╨║╨╕╨╝ ╨╛╨▒╤А╨░╨╖╨╛╨╝, ╨╝╨╛╨╢╨╡╤В ╨▒╤Л╤В╤М ╤Б╨╛╨╖╨┤╨░╨╜╨░ ╤Б╨╕╤В╤Г╨░╤Ж╨╕╤П ╨┐╨░╨╜╨╕╨║╨╕.

╨Ч╨░╨║╨╗╤О╤З╨╡╨╜╨╕╨╡

╨Э╨╡╨╛╨▒╤Е╨╛╨┤╨╕╨╝╨╛ ╨┐╨╛╨╜╨╕╨╝╨░╤В╤М, ╤З╤В╨╛ ╨╛╨╢╨╕╨┤╨░╨╜╨╕╤П ╨╕╨╜╨▓╨╡╤Б╤В╨╛╤А╨╛╨▓ ╨╕ ╤В╤А╨╡╨▒╨╛╨▓╨░╨╜╨╕╤П ╨║ ╨║╨░╨┐╨╕╤В╨░╨╗╤Г ╨▓╨░╤А╤М╨╕╤А╤Г╤О╤В╤Б╤П ╨╛╤В ╨╛╨┤╨╜╨╛╨╣ ╨╛╤В╤А╨░╤Б╨╗╨╕ ╨║ ╨┤╤А╤Г╨│╨╛╨╣. ╨в╨░╨║╨╕╨╝ ╨╛╨▒╤А╨░╨╖╨╛╨╝, ╤Б╤А╨░╨▓╨╜╨╡╨╜╨╕╨╡ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨╛╨▓ ╨╛╤В╨┤╨░╤З╨╕ ╨▒╤Г╨┤╨╡╤В ╨╕╨╝╨╡╤В╤М ╤Б╨╝╤Л╤Б╨╗, ╨║╨╛╨│╨┤╨░ ╤Б╨╛╨╖╨┤╨░╤О╤В╤Б╤П ╨╛╨┤╨╜╨╕ ╨╕ ╤В╨╡ ╨╢╨╡ ╨╛╤В╤А╨░╤Б╨╗╨╕ ╨╕/╨╕╨╗╨╕ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕.

╨Э╨╡ ╤Б╤Г╤Й╨╡╤Б╤В╨▓╤Г╨╡╤В ╤Д╨╕╨║╤Б╨╕╤А╨╛╨▓╨░╨╜╨╜╨╛╨│╨╛ ╨╛╨┐╤А╨╡╨┤╨╡╨╗╨╡╨╜╨╕╤П ┬л╨▓╤Л╤Б╨╛╨║╨╛╨│╨╛┬╗ ╨╕╨╗╨╕ ┬л╨╜╨╕╨╖╨║╨╛╨│╨╛┬╗ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨░, ╨╕ ╨┐╨╡╤А╨╡╨┤ ╨░╨╜╨░╨╗╨╕╨╖╨╛╨╝ ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╤Л╤Е ╨▒╤Г╨┤╤Г╤Й╨╕╤Е ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╨╛╤Б╤В╨╡╨╣ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕ ╨╜╨╡╨╛╨▒╤Е╨╛╨┤╨╕╨╝╨╛ ╤Г╤З╨╕╤В╤Л╨▓╨░╤В╤М ╨┤╤А╤Г╨│╨╕╨╡ ╤Д╨░╨║╤В╨╛╤А╤Л. ╨н╤В╨╛ ╨▓╤Б╨╡╨│╨╛ ╨╗╨╕╤И╤М ╨┐╨╛╨║╨░╨╖╨░╤В╨╡╨╗╤М ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╤Л╤Е ╨╜╨░╨╝╨╡╤А╨╡╨╜╨╕╨╣ ╤Д╨╕╤А╨╝╤Л.

╨Ъ╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨▓╨╛╨╖╨▓╤А╨░╤В╨░ ╨╝╨╛╨╢╨╡╤В ╨╝╨╡╨╜╤П╤В╤М╤Б╤П ╨╛╤В ╨│╨╛╨┤╨░ ╨║ ╨│╨╛╨┤╤Г ╨▓ ╨╖╨░╨▓╨╕╤Б╨╕╨╝╨╛╤Б╤В╨╕ ╨╛╤В ╨╝╨░╨║╤А╨╛╤Н╨║╨╛╨╜╨╛╨╝╨╕╤З╨╡╤Б╨║╨╕╤Е ╤Д╨░╨║╤В╨╛╤А╨╛╨▓, ╨┤╨╛╤Е╨╛╨┤╨╛╨▓ ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╣, ╨▓╨╛╨╗╨░╤В╨╕╨╗╤М╨╜╨╛╤Б╤В╨╕ ╨╕ ╨┐╨╛╨╗╨╕╤В╨╕╨║╨╕ ╨▓╤Л╨┐╨╗╨░╤В╤Л ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓. ╨Я╨╛╨╗╨╕╤В╨╕╨║╨░ ╨▓╤Л╨┐╨╗╨░╤В╤Л ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓ ╨┐╤А╨╛╤Ж╨╡╨╜╤В ╨╛╤В ╤Б╤Г╨╝╨╝╤Л, ╨╜╨░ ╨║╨╛╤В╨╛╤А╤Г╤О ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╤Л ╨┤╨╛╨╗╨╢╨╜╤Л ╨▒╤Л╤В╤М ╨▓╤Л╨┐╨╗╨░╤З╨╡╨╜╤Л ╨░╨║╤Ж╨╕╨╛╨╜╨╡╤А╨░╨╝, ╨╕ ╨║╨░╨║ ╤З╨░╤Б╤В╨╛ ╨║╨╛╨╝╨┐╨░╨╜╨╕╤П ╨▓╤Л╨┐╨╗╨░╤З╨╕╨▓╨░╨╡╤В ╤Б╤Г╨╝╨╝╤Г ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓.╨Я╨╛╨┤╤А╨╛╨▒╨╜╨╡╨╡. ╨С╨╛╨╗╤М╤И╨╕╨╜╤Б╤В╨▓╨╛ ╨░╨▓╤В╨╛╤А╨╕╤В╨╡╤В╨╜╤Л╤Е ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╣ ╨┐╤А╨╕╨┤╨╡╤А╨╢╨╕╨▓╨░╤О╤В╤Б╤П ╨┐╨╛╨╗╨╕╤В╨╕╨║╨╕ ╨▓╤Л╨┐╨╗╨░╤В╤Л ╤Б╤В╨░╨▒╨╕╨╗╤М╨╜╤Л╤Е ╨╕╨╗╨╕ ╤А╨░╤Б╤В╤Г╤Й╨╕╤Е ╨┤╨╕╨▓╨╕╨┤╨╡╨╜╨┤╨╛╨▓.

╨Ъ╨╛╨╝╨┐╨░╨╜╨╕╨╕ ╨╛╨▒╨╛╤А╨╛╨╜╨╜╨╛╨│╨╛ ╤Б╨╡╨║╤В╨╛╤А╨░, ╤В╨░╨║╨╕╨╡ ╨║╨░╨║ ╤Д╨░╤А╨╝╨░╤Ж╨╡╨▓╤В╨╕╨║╨░ ╨╕ ╨┐╨╛╤В╤А╨╡╨▒╨╕╤В╨╡╨╗╤М╤Б╨║╨╕╨╡ ╤В╨╛╨▓╨░╤А╤Л, ╨╛╨▒╤Л╤З╨╜╨╛ ╨╕╨╝╨╡╤О╤В ╤А╨╡╨│╤Г╨╗╤П╤А╨╜╤Л╨╡ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╤Л ╨▓╤Л╨┐╨╗╨░╤В ╨╕ ╨╛╤В╨┤╨░╤З╨╕ ╨┐╨╛ ╤Б╤А╨░╨▓╨╜╨╡╨╜╨╕╤О ╤Б ╤Н╨╜╨╡╤А╨│╨╡╤В╨╕╤З╨╡╤Б╨║╨╕╨╝ ╤Б╨╡╨║╤В╨╛╤А╨╛╨╝, ╨┤╨╛╤Е╨╛╨┤╤Л ╨║╨╛╤В╨╛╤А╨╛╨│╨╛ ╨╕╨╝╨╡╤О╤В ╤В╨╡╨╜╨┤╨╡╨╜╤Ж╨╕╤О ╨▒╤Л╤В╤М ╤Ж╨╕╨║╨╗╨╕╤З╨╜╤Л╨╝╨╕.

╨Т╨╕╨┤╨╡╨╛ ╨╛ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨╡ ╨╛╤В╨┤╨░╤З╨╕

╨н╤В╨░ ╤Б╤В╨░╤В╤М╤П ╨▒╤Л╨╗╨░ ╤А╤Г╨║╨╛╨▓╨╛╨┤╤Б╤В╨▓╨╛╨╝ ╨┐╨╛ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╤Г ╨╛╤В╨▓╨░╨╗╨░. ╨Ч╨┤╨╡╤Б╤М ╨╝╤Л ╨╛╨▒╤Б╤Г╨┤╨╕╨╝ ╤Д╨╛╤А╨╝╤Г╨╗╤Г ╨┤╨╗╤П ╤А╨░╤Б╤З╨╡╤В╨░ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨░ ╨╛╤В╨║╨░╤З╨║╨╕ ╨▓╨╝╨╡╤Б╤В╨╡ ╤Б ╨┐╤А╨░╨║╤В╨╕╤З╨╡╤Б╨║╨╕╨╝╨╕ ╨┐╤А╨╕╨╝╨╡╤А╨░╨╝╨╕, ╨┐╤А╨╡╨╕╨╝╤Г╤Й╨╡╤Б╤В╨▓╨░╨╝╨╕ ╨╕ ╨╜╨╡╨┤╨╛╤Б╤В╨░╤В╨║╨░╨╝╨╕. ╨Э╨╕╨╢╨╡ ╨┐╤А╨╕╨▓╨╡╨┤╨╡╨╜╤Л ╨┤╤А╤Г╨│╨╕╨╡ ╤Б╤В╨░╤В╤М╨╕ ╨┐╨╛ ╤Д╨╕╨╜╨░╨╜╤Б╨╛╨▓╨╛╨╝╤Г ╨░╨╜╨░╨╗╨╕╨╖╤Г, ╨║╨╛╤В╨╛╤А╤Л╨╡ ╨╝╨╛╨│╤Г╤В ╨▓╨░╨╝ ╨┐╨╛╨╜╤А╨░╨▓╨╕╤В╤М╤Б╤П:

  • ╨а╨░╨▒╨╛╤З╨╕╨╣ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨а╨░╨▒╨╛╤З╨╕╨╣ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨а╨░╨▒╨╛╤З╨╕╨╣ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨┐╤А╨╡╨┤╤Б╤В╨░╨▓╨╗╤П╨╡╤В ╤Б╨╛╨▒╨╛╨╣ ╤Д╨╕╨╜╨░╨╜╤Б╨╛╨▓╤Г╤О ╤Г╤Б╤В╨╛╨╣╤З╨╕╨▓╨╛╤Б╤В╤М ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕, ╨╕╨╖╨╝╨╡╤А╤П╤П ╨╡╨╡ ╤Б╨┐╨╛╤Б╨╛╨▒╨╜╨╛╤Б╤В╤М ╨▓╨╛╨╖╨╝╨╡╤Й╨░╤В╤М ╨╛╨┐╨╡╤А╨░╤Ж╨╕╨╛╨╜╨╜╤Л╨╡ ╤А╨░╤Б╤Е╨╛╨┤╤Л, ╨╕╤Б╨┐╨╛╨╗╤М╨╖╤Г╤П ╨│╨╛╨┤╨╛╨▓╨╛╨╣ ╨▓╨░╨╗╨╛╨▓╨╛╨╣ ╨┤╨╛╤Е╨╛╨┤. ╨Ю╨┐╨╡╤А╨░╤Ж╨╕╨╛╨╜╨╜╤Л╨╡ ╤А╨░╤Б╤Е╨╛╨┤╤Л ╨▓╨║╨╗╤О╤З╨░╤О╤В ╨░╨╝╨╛╤А╤В╨╕╨╖╨░╤Ж╨╕╤О ╨╕ ╨╕╤Б╨║╨╗╤О╤З╨░╤О╤В ╨╗╤О╨▒╤Л╨╡ ╤Д╨╕╨╜╨░╨╜╤Б╨╛╨▓╤Л╨╡ ╤А╨░╤Б╤Е╨╛╨┤╤Л, ╤В╨░╨║╨╕╨╡ ╨║╨░╨║ ╨┐╤А╨╛╤Ж╨╡╨╜╤В╤Л ╨┐╨╛ ╨┤╨╛╨╗╨│╨░╨╝.╨Я╨╛╨┤╤А╨╛╨▒╨╜╨╡╨╡
  • ╨б╤А╨░╨▓╨╜╨╕╤В╨╡ тАУ ╤В╤А╨╡╨╣╨╗╨╕╨╜╨│ PE ╨╕ Forward PE RatioCompare тАУ ╤В╤А╨╡╨╣╨╗╨╕╨╜╨│ PE ╨╕ ╤Д╨╛╤А╨▓╨░╤А╨┤. Forward PE RatioTrailing PE ╨╕╤Б╨┐╨╛╨╗╤М╨╖╤Г╨╡╤В ╨┐╤А╨╕╨▒╤Л╨╗╤М ╨╜╨░ ╨░╨║╤Ж╨╕╤О ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕ ╨╖╨░ ╨┐╤А╨╡╨┤╤Л╨┤╤Г╤Й╨╕╨╡ 12 ╨╝╨╡╤Б╤П╤Ж╨╡╨▓ ╨┤╨╗╤П ╤А╨░╤Б╤З╨╡╤В╨░ ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В╨░ ╤Ж╨╡╨╜╨░/╨┐╤А╨╕╨▒╤Л╨╗╤М. ╨Э╨░╨┐╤А╨╛╤В╨╕╨▓, Forward PE ╨╕╤Б╨┐╨╛╨╗╤М╨╖╤Г╨╡╤В ╨┐╤А╨╛╨│╨╜╨╛╨╖╨╕╤А╤Г╨╡╨╝╤Г╤О ╨┐╤А╨╕╨▒╤Л╨╗╤М ╨╜╨░ ╨░╨║╤Ж╨╕╤О ╨║╨╛╨╝╨┐╨░╨╜╨╕╨╕ ╨▓ ╤В╨╡╤З╨╡╨╜╨╕╨╡ ╤Б╨╗╨╡╨┤╤Г╤О╤Й╨╕╤Е 12 ╨╝╨╡╤Б╤П╤Ж╨╡╨▓ ╨┤╨╗╤П ╤А╨░╤Б╤З╨╡╤В╨░ ╤Б╨╛╨╛╤В╨╜╨╛╤И╨╡╨╜╨╕╤П ╤Ж╨╡╨╜╨░/╨┐╤А╨╕╨▒╤Л╨╗╤М.╨Я╨╛╨┤╤А╨╛╨▒╨╜╨╡╨╡
  • ╨а╨░╤Б╤Б╤З╨╕╤В╨░╤В╤М ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨▓╤Л╨╕╨│╤А╤Л╤И╨░/╨┐╤А╨╛╨╕╨│╤А╤Л╤И╨░╨а╨░╤Б╤Б╤З╨╕╤В╨░╤В╤М ╨║╨╛╤Н╤Д╤Д╨╕╤Ж╨╕╨╡╨╜╤В ╨▓╤Л╨╕╨│╤А╤Л╤И╨░/╨┐╤А╨╛╨╕╨│╤А╤Л╤И╨░╨б╨╛╨╛╤В╨╜╨╛╤И╨╡╨╜╨╕╨╡ ╨▓╤Л╨╕╨│╤А╤Л╤И╨░/╨┐╤А╨╛╨╕╨│╤А╤Л╤И╨░ тАФ ╤Н╤В╨╛ ╨┐╤А╨╛╨┐╨╛╤А╤Ж╨╕╤П ╤Г╤Б╨┐╨╡╤Е╨░, ╨║╨╛╤В╨╛╤А╨░╤П ╨╛╨┐╤А╨╡╨┤╨╡╨╗╤П╨╡╤В ╨║╨╛╨╗╨╕╤З╨╡╤Б╤В╨▓╨╛ ╨▓╤Л╨╕╨│╤А╨░╨╜╨╜╤Л╤Е ╤В╨╛╤А╨│╨╛╨▓╤Л╤Е ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╨╛╤Б╤В╨╡╨╣ ╨┐╨╛ ╨╛╤В╨╜╨╛╤И╨╡╨╜╨╕╤О ╨║ ╨║╨╛╨╗╨╕╤З╨╡╤Б╤В╨▓╤Г ╤Г╨┐╤Г╤Й╨╡╨╜╨╜╤Л╤Е ╤В╨╛╤А╨│╨╛╨▓╤Л╤Е ╨▓╨╛╨╖╨╝╨╛╨╢╨╜╨╛╤Б╤В╨╡╨╣. ╨Ю╨┤╨╜╨░╨║╨╛ ╤Н╤В╨╛ ╨╜╨╡ ╨║╨░╤Б╨░╨╡╤В╤Б╤П ╤Б╤Г╨╝╨╝╤Л, ╨▓╤Л╨╕╨│╤А╨░╨╜╨╜╨╛╨╣ ╨╕╨╗╨╕ ╨┐╤А╨╛╨╕╨│╤А╨░╨╜╨╜╨╛╨╣ ╤В╤А╨╡╨╣╨┤╨╡╤А╨╛╨╝.╨Я╨╛╨┤╤А╨╛╨▒╨╜╨╡╨╡
  • ╨Т╨░╨╗╨╛╨▓╨╛╨╣ ╨┤╨╛╤Е╨╛╨┤ тАУ ╨Ч╨╜╨░╤З╨╡╨╜╨╕╨╡╨Т╨░╨╗╨╛╨▓╨╛╨╣ ╨┤╨╛╤Е╨╛╨┤ тАУ ╨Ч╨╜╨░╤З╨╡╨╜╨╕╨╡╨а╨░╨╖╨╜╨╕╤Ж╨░ ╨╝╨╡╨╢╨┤╤Г ╨▓╤Л╤А╤Г╤З╨║╨╛╨╣ ╨╕ ╤Б╨╡╨▒╨╡╤Б╤В╨╛╨╕╨╝╨╛╤Б╤В╤М╤О ╨┐╤А╨╛╨┤╨░╨╜╨╜╤Л╤Е ╤В╨╛╨▓╨░╤А╨╛╨▓ ╨┐╤А╨╡╨┤╤Б╤В╨░╨▓╨╗╤П╨╡╤В ╤Б╨╛╨▒╨╛╨╣ ╨▓╨░╨╗╨╛╨▓╨╛╨╣ ╨┤╨╛╤Е╨╛╨┤, ╨║╨╛╤В╨╛╤А╤Л╨╣ ╨┐╤А╨╡╨┤╤Б╤В╨░╨▓╨╗╤П╨╡╤В ╤Б╨╛╨▒╨╛╨╣ ╨┐╤А╨╕╨▒╤Л╨╗╤М, ╨┐╨╛╨╗╤Г╤З╨╡╨╜╨╜╤Г╤О ╨║╨╛╤А╨┐╨╛╤А╨░╤Ж╨╕╨╡╨╣ ╨╛╤В ╨╡╨╡ ╨╛╨┐╨╡╤А╨░╤Ж╨╕╨╛╨╜╨╜╨╛╨╣ ╨┤╨╡╤П╤В╨╡╨╗╤М╨╜╨╛╤Б╤В╨╕. ╨н╤В╨╛ ╤Б╤Г╨╝╨╝╨░ ╨┤╨╡╨╜╨╡╨│, ╨║╨╛╤В╨╛╤А╤Г╤О ╨╛╤А╨│╨░╨╜╨╕╨╖╨░╤Ж╨╕╤П ╨╖╨░╤А╨░╨▒╨░╤В╤Л╨▓╨░╨╡╤В ╨┤╨╛ ╨╛╨┐╨╗╨░╤В╤Л ╨▓╨╜╨╡╤А╨╡╨░╨╗╨╕╨╖╨░╤Ж╨╕╨╛╨╜╨╜╤Л╤Е ╤А╨░╤Б╤Е╨╛╨┤╨╛╨▓, ╤В╨░╨║╨╕╤Е ╨║╨░╨║ ╨┐╤А╨╛╤Ж╨╡╨╜╤В╤Л, ╨░╤А╨╡╨╜╨┤╨╜╨░╤П ╨┐╨╗╨░╤В╨░ ╨╕ ╤Н╨╗╨╡╨║╤В╤А╨╕╤З╨╡╤Б╤В╨▓╨╛.╨Я╨╛╨┤╤А╨╛╨▒╨╜╨╡╨╡

Программы для Windows, мобильные приложения, игры - ВСЁ БЕСПЛАТНО, в нашем закрытом телеграмм канале - Подписывайтесь:)

Похожие записи

Добавить комментарий