中文：

PE倍数是指股票市场中股票价格与每股收益之间的比例。它通常用于评估股票的价值和投资风险。

PE倍数的计算方法是：股票价格除以每股收益。例如，如果一只股票的价格为20元，每股收益为1元，则该股票的PE倍数为20倍。

PE倍数可以作为评估股票投资价值和风险的重要指标。一般来说，如果PE倍数较低，说明股票的价格相对较低，投资价值可能较大；如果PE倍数较高，说明股票的价格相对较高，投资风险可能较大。

在股票市场中，PE倍数通常受到市场供求关系、行业趋势、公司业绩等多种因素的影响。因此，投资者需要结合市场情况、公司基本面、行业趋势等多方面因素来综合评估股票的投资价值和风险。

需要注意的是，PE倍数只是一种评估股票价值的方法之一，不能完全代表股票的投资价值和风险。投资者还需要结合其他指标和方法来全面评估股票的投资价值和风险。

英文：

PE multiple refers to the ratio between stock price and earnings per share in the stock market. It is commonly used to evaluate stock value and investment risk.

The calculation method of PE multiple is: stock price divided by earnings per share. For example, if the price of a stock is 20 yuan and the earnings per share is 1 yuan, the PE multiple of the stock is 20 times.

PE multiple can be used as an important indicator to evaluate stock investment value and risk. Generally speaking, if the PE multiple is low, it means that the stock price is relatively low, and the investment value may be greater; if the PE multiple is high, it means that the stock price is relatively high, and the investment risk may be greater.

In the stock market, PE multiple is usually affected by market supply and demand, industry trends, company performance and other factors. Therefore, investors need to combine market conditions, company fundamentals, industry trends and other factors to comprehensively evaluate the investment value and risk of stocks.

It should be noted that PE multiple is only one way to evaluate stock value, and cannot fully represent the investment value and risk of stocks. Investors also need to combine other indicators and methods to comprehensively evaluate the investment value and risk of stocks.