0328.HK 爱高
| PE | EPS growth (%) | ROE (%) | Earning growth (%) | Current ratio (X) | Debt/equity (%) | NCAV (M) | Market Cap. |
| 6.64 | 15.6 | 19.88 | 18.25 | 1.95 | 22.52 | 876 | 1886 |
Criteria 1:
| Year | Earning | Dividend | Equity | R.O.E | |
| 2006 forcast | 163 * 2 | | | | |
| 2005 | 283 | 17.9% | | 1426 | 19.8% |
| 2004 | 240 | 61% | | 1284 | 18.7% |
| 2003 | 149 | 8.7% | | 1101 | 13.5% |
| 2002 | 137 | 38% | | 1008 | 13.5% |
| 2001 | 99 | | | 915 | 10.8% |
| 2000 | 83 | | | 840 | 9% |
| 1999 | 88 | | | 771 | |
| 1998 | 88 | | | 699 | |
| 1997 | 42 | | | 633 | |
Current Actual PE = Market Cap – NCAV = (1886 – 875) / 283 = 3.5
Intrinsic Value Estimation:
(1). NCAV + 5 YEAR AVG PE-2006
= 2731 – 1802 – 54 + 12 * 137 * 2
= 875 + 3288 = 4163 m
(2) NCAV + 5 YEAR AVG PE-2005
= 875 + 283 * 12 = 4271 m
Divided payout: Very good record
Corporate governance: as David webb invested in this stock, it should be fine
Business prospect: TBD
Company buyback – good signal
TBD
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