品牌如何影响股价

How Brand ImpactsShare Price 67% of companies in the S&P 500 may beinaccurately valued due to the misunderstandingof one key business asset. to the business world. The investment community of analystsand journalists today sees the influence of brand on valuation,with brand being the second most important consideration toinvestment analysts and journalists when evaluating a company’sprospects.76% agree that brand has a meaningful impact onvaluation. However, brand understanding amongst this audience islow, with the majority lacking a deep understanding. Complementing a quarter of a century of proprietary brandvaluation data with new research, Interbrand demonstrates that67% of companies in the S&P 500 may be inaccurately valued. Understanding theDisconnect This new finding began with a simple observation: businessbrand growth and earnings potential aren’t always reflected in acompany’s public share price. Individual brands’ price-to-earnings(P/E) ratios are not consistently performing against peers – or areexperiencing high volatility, signaling stock may be improperlyvalued. When we first recognized that share price was lagging behindgrowth for many companies, our team of brand economics expertshypothesized that this apparent disconnect could be because thebrand itself was not effectively communicated to the investmentcommunity. A disconnect exists between the companies' performance andthe investment community’s analysis of their brands. However,we haven’t just identified the problem. Through analysis of over500 companies’ P/E ratio over a five-year average and primaryresearch within the investment community, we’ve identified apowerful driver that can potentially shift the balance, changinginvestor understanding, and thereby bringing earned value back toa company’s share price. Best of all,it’s an asset that companiesalready have the power to leverage or strengthen: their brand. To investigate and interrogate this hypothesis, Interbrandpartnered with B2B market research leader NewtonX andintegrated communications agency Brodeur Partners to determineif brand could have a strong connection to share price. The resultof our partnership efforts is the basis of this report that connectsbrand, investor communications and advanced AI-based research. Clarifying a winning brand strategy to investors can shift thebalance on expectation of future brand performance, boostingshare price. Perceived brand value can be improved—andInterbrand and our team of powerful partners can help make theleap. Interbrand, the world’s leading brand consultancy, progressedbusiness valuation by bringing a tangible number to the seeminglyintangible asset of brand value, defined by the combination offinancial performance, the role of brand in driving choice andbrand strength, which measures the ability of the brand in creatingdemand and reducing risk. What was once an unknown is now arecognized strength, and we are again bringing our new findings After determining this was an area that would benefit fromfurther analysis, the team sought to determine the depth ofthe disconnect between brand strength and share price. Wedeveloped a dataset consisting of U.S. publicly traded S&P 500companies and the Interbrand Best Global Brands 2023 cohortof the world’s most valuable brands that weren’t already includedin the S&P. We then analyzed the P/E ratio of each companyover the past five years (2018 – 2023), specifically looking at theabsolute level of P/E ratio and the variance of the ratio itself. 1. Consistent Overperformer Visualizing theRelationship A company that has a higher average P/E ratio than its sectorcompetitors and is less volatile than its sector average. 2. Consistent Underperformer A company that has a lower average P/E ratio than its sectorcompetitors and is less volatile than its sector. 3. Inconsistent Overperformer A company that has a higher average P/E ratio than its sectorcompetitors and is more volatile than its sector. Our resulting findings are that67% of all companies in thedataset are not overperformers—hence implying that either theirstock is undervalued, or the share price is more volatile than itsunderlying performance. Through this analysis, we were able toplace company outcomes in four distinct categories: 4. Inconsistent Underperformer A company that has a lower average P/E ratio than its sectorcompetitors and is more volatile than its sector. Companies in eachcategory overall Brand and Valuationin Context The following quadrant charts comparing P/E average to varianceserved as important tools as we sought to understand thecomparative relationship of the brands within our dataset in relationto others in their sector. We divided brands into 51 sectors, basedon the Best Global Brands methodology and Yahoo Finance sectordefinitions. To demonstrate the four ways a company could be categorizedbased on its P/E ratio and volatility relative to other companies in itssector, we assessed companies in the