【中文版】

市净率是股票投资中一个重要的指标，它指的是每股股票的市场价格与其每股净资产的比率。市净率的计算公式为：市净率=股票每股市价/每股净资产。

市净率在投资分析中具有重要的作用。一方面，市净率可以作为评估股票估值的指标之一，帮助投资者判断股票是否被低估或高估。一般来说，市净率较低的股票可能被低估，而市净率较高的股票可能被高估。另一方面，市净率还可以用来衡量股票的盈利能力，因为每股净资产反映了公司净资产与股票数量的比值，而公司的盈利能力与净资产密切相关。

在投资决策中，投资者可以通过观察不同行业的市净率来评估不同行业的投资价值。同时，投资者还可以通过比较不同公司的市净率来选择具有较高投资价值的股票。

但是需要注意的是，市净率并不是万能的指标，它具有一定的局限性。例如，市净率受到市场供求关系的影响较大，市场投机氛围过重会导致市净率偏离其真实价值。此外，不同行业的市净率也存在较大差异，需要结合其他指标进行综合分析。

【英文版】

The price-to-book ratio, commonly known as the P/B ratio or just "book value", is an important indicator in stock investing. It refers to the ratio of a company's market price per share to its book value per share. The calculation formula for the P/B ratio is: P/B ratio = Market price per share / Book value per share.

The P/B ratio plays an important role in investment analysis. On the one hand, the P/B ratio can be used as one of the indicators to evaluate the valuation of stocks, helping investors determine whether a stock is underestimated or overestimated. Generally speaking, stocks with lower P/B ratios may be underestimated, while stocks with higher P/B ratios may be overestimated. On the other hand, the P/B ratio can also be used to measure a company's profitability because book value per share reflects the ratio of a company's net assets to its share count, and a company's profitability is closely related to its net assets.

In investment decision-making, investors can use the P/B ratio to evaluate the investment value of different industries by observing the P/B ratios of different industries. At the same time, investors can choose stocks with higher investment value by comparing the P/B ratios of different companies.

However, it should be noted that the P/B ratio is not a panacea. It has certain limitations. For example, the P/B ratio is greatly affected by market supply and demand. Market speculation can lead to the P/B ratio deviating from its true value. In addition, there are also significant differences in the P/B ratios of different industries, which require comprehensive analysis with other indicators.