Contents

Acknowledgements

Foreword: Werner De Bondt

Preface

Introduction

PART I: The P/E Calculation

Chapter 1. History of the P/E

Chapter 2. Earnings

Chapter 3. The Price-Earnings Ratio (P/E)

Chapter 4. Practical Calculation of EPS and the P/E from Company Accounts

PART II: The Value Premium and the P/E

Chapter 5. Value Investing

Chapter 6. Efficient Markets and the CAPM

Chapter 7. Accepting Reality: The Fama and French 3-Factor Model

Chapter 8. Value Investors Fight Back

PART III: Improving the P/E

Chapter 9. Developing the P/E

Chapter 10. The PEG Ratio

Chapter 11. The Long-Term P/E

Chapter 12. Decomposing the P/E

Chapter 13. A Cautionary Tale: The Naked P/E

Chapter 14. Have We Rescued the P/E?

PART IV: Beyond the P/E

Chapter 15. Ben Graham: The P/E and the Margin of Safety

Chapter 16. Joel Greenblatt: The P/E and Return on Capital

Chapter 17. Joseph Piotroski: The P/E and the Fscore

Conclusion

Glossary

References

Index