m*****i
发帖数: 4342 | 1 I should charge 100 weibi for this:)
Total Equity: 1,914 Million dollars, almost not debt with about 1 billion
cash.
247 million goodwill and other intangibles.
So tangibles equity should be: 1,667 Million with only 250 million equipment.
Market value 2,500 million implies enterprise value 833 million dollar.
For last quarter, earning + depreciation - capital spending 70 million 280
million annualized.
So implied Enterprises/Cash flow = 3.
So this is relative safe unless
1) Another recession
2) Fake Accounting
3) They are stupid and use the cash to buy another company.
Use the method you can see why I bought KEM last week and VSH today. |
p****r
发帖数: 4348 | 2 thanks
equipment.
【在 m*****i 的大作中提到】
: I should charge 100 weibi for this:)
: Total Equity: 1,914 Million dollars, almost not debt with about 1 billion
: cash.
: 247 million goodwill and other intangibles.
: So tangibles equity should be: 1,667 Million with only 250 million equipment.
: Market value 2,500 million implies enterprise value 833 million dollar.
: For last quarter, earning + depreciation - capital spending 70 million 280
: million annualized.
: So implied Enterprises/Cash flow = 3.
: So this is relative safe unless
|
a*****e
发帖数: 16445 | |
e****q
发帖数: 1668 | |
p**p
发帖数: 742 | |
h***a
发帖数: 290 | |
r****n
发帖数: 639 | 7 Thanks a lot! 我给你发包子吧！
【在 m*****i 的大作中提到】
: I should charge 100 weibi for this:)
: Total Equity: 1,914 Million dollars, almost not debt with about 1 billion
: cash.
: 247 million goodwill and other intangibles.
: So tangibles equity should be: 1,667 Million with only 250 million equipment.
: Market value 2,500 million implies enterprise value 833 million dollar.
: For last quarter, earning + depreciation - capital spending 70 million 280
: million annualized.
: So implied Enterprises/Cash flow = 3.
: So this is relative safe unless
|
s*******e
发帖数: 68 | 8 Thanks for your analysis, I agree with all except one thing ,maybe I don't
understand..
"Market value 2,500 million implies enterprise value 833 million dollars"
The market value of outstanding shares = 170 millions shares * 14.8 =2500
millions. Then how do you arrive at 833 million dollars?
equipment.
【在 m*****i 的大作中提到】
: I should charge 100 weibi for this:)
: Total Equity: 1,914 Million dollars, almost not debt with about 1 billion
: cash.
: 247 million goodwill and other intangibles.
: So tangibles equity should be: 1,667 Million with only 250 million equipment.
: Market value 2,500 million implies enterprise value 833 million dollar.
: For last quarter, earning + depreciation - capital spending 70 million 280
: million annualized.
: So implied Enterprises/Cash flow = 3.
: So this is relative safe unless
|
m*****i
发帖数: 4342 | 9 tangibles equity is 1,667 Million
So 2,500 million - 1,667 Million = Enterprises Value 833 Million.
Do you still have the KEM? It's up 4 days on the road.
【在 s*******e 的大作中提到】
: Thanks for your analysis, I agree with all except one thing ,maybe I don't
: understand..
: "Market value 2,500 million implies enterprise value 833 million dollars"
: The market value of outstanding shares = 170 millions shares * 14.8 =2500
: millions. Then how do you arrive at 833 million dollars?
:
: equipment.
|
S********t
发帖数: 1600 | |
|
|
u********e
发帖数: 4950 | |
s*******e
发帖数: 68 | 12 Now I see how you did your calculation!
I'm still hold KEM tight, almost 20% gain, and plan to hold a little longer
if the trend continues.
You and Yougong are one of the guys I respect in this board.
【在 m*****i 的大作中提到】
: tangibles equity is 1,667 Million
: So 2,500 million - 1,667 Million = Enterprises Value 833 Million.
: Do you still have the KEM? It's up 4 days on the road.
|
a****g
发帖数: 8131 | 13 cool
equipment.
【在 m*****i 的大作中提到】
: I should charge 100 weibi for this:)
: Total Equity: 1,914 Million dollars, almost not debt with about 1 billion
: cash.
: 247 million goodwill and other intangibles.
: So tangibles equity should be: 1,667 Million with only 250 million equipment.
: Market value 2,500 million implies enterprise value 833 million dollar.
: For last quarter, earning + depreciation - capital spending 70 million 280
: million annualized.
: So implied Enterprises/Cash flow = 3.
: So this is relative safe unless
|
j*****h
发帖数: 3292 | 14 大牛， 我也是喜欢用cash income 来计算
但AVX 是属于high cyclical 的,如果目前是peak,
那算出来的可能是严重biased |
E*******r
发帖数: 370 | 15 赞！
股版难得一见的value investing帖子！ |
l******n
发帖数: 9344 | 16 good FA, but from the chart, it is overbought and the correction is coming .
.. I do not think it is a good entry point.
equipment.
【在 m*****i 的大作中提到】
: I should charge 100 weibi for this:)
: Total Equity: 1,914 Million dollars, almost not debt with about 1 billion
: cash.
: 247 million goodwill and other intangibles.
: So tangibles equity should be: 1,667 Million with only 250 million equipment.
: Market value 2,500 million implies enterprise value 833 million dollar.
: For last quarter, earning + depreciation - capital spending 70 million 280
: million annualized.
: So implied Enterprises/Cash flow = 3.
: So this is relative safe unless
|
j*****h
发帖数: 3292 | 17 你是用的自定义的EV?
再假定你的tangible equity 实际是指net tangible asset.
那你的2500M- 1667M 实际是指市场对net book value 的溢价？
那还不如直接用P/B 指标 = 2500/1667， 怎么会成了enterprise value?
http://www.investopedia.com/terms/e/enterprisevalue.asp
Enterprise value is calculated as market cap plus debt, minority interest
and preferred shares, minus total cash and cash equivalents
【在 m*****i 的大作中提到】
: tangibles equity is 1,667 Million
: So 2,500 million - 1,667 Million = Enterprises Value 833 Million.
: Do you still have the KEM? It's up 4 days on the road.
|
j*****h
发帖数: 3292 | 18 那就是混合型估价方法？
也就是说目前市场价2500M，资产表上净值就有1667M， 那溢价部份833M (2500M-1667M)
根据最近peak QT的现金赢利annualize*4 =280M
那就是说AVX 企业要花约3年时间 (833/280)， 把市场溢价部份赚出来
equipment.
【在 m*****i 的大作中提到】
: I should charge 100 weibi for this:)
: Total Equity: 1,914 Million dollars, almost not debt with about 1 billion
: cash.
: 247 million goodwill and other intangibles.
: So tangibles equity should be: 1,667 Million with only 250 million equipment.
: Market value 2,500 million implies enterprise value 833 million dollar.
: For last quarter, earning + depreciation - capital spending 70 million 280
: million annualized.
: So implied Enterprises/Cash flow = 3.
: So this is relative safe unless
|
M*****a
发帖数: 7122 | 19 Do you compare this number with other companies inthe industry? Or 3 is
already a great number itself? I'm not too familiar with enterprise/cash
ratio |
m*****i
发帖数: 4342 | 20 Very true. I use this measure quite a bit.
Just like you buy a business, you need to find out how long it will take to
get your money back.
1667M)
【在 j*****h 的大作中提到】
: 那就是混合型估价方法？
: 也就是说目前市场价2500M，资产表上净值就有1667M， 那溢价部份833M (2500M-1667M)
: 根据最近peak QT的现金赢利annualize*4 =280M
: 那就是说AVX 企业要花约3年时间 (833/280)， 把市场溢价部份赚出来
:
: equipment.
|
|
|
m*****i
发帖数: 4342 | 21 This is true. How do you know we are at the cyclical peak?
Maybe at the beginning of this cyclical cycle.
【在 j*****h 的大作中提到】
: 大牛， 我也是喜欢用cash income 来计算
: 但AVX 是属于high cyclical 的,如果目前是peak,
: 那算出来的可能是严重biased
|
e****q
发帖数: 1668 | 22 "For last quarter, earning + depreciation - capital spending 70
million 280
million annualized."
I didn't get this 280 number. Can you explain from which statement
you calculate this?
billion
equipment.
dollar.
million 280
【在 m*****i 的大作中提到】
: I should charge 100 weibi for this:)
: Total Equity: 1,914 Million dollars, almost not debt with about 1 billion
: cash.
: 247 million goodwill and other intangibles.
: So tangibles equity should be: 1,667 Million with only 250 million equipment.
: Market value 2,500 million implies enterprise value 833 million dollar.
: For last quarter, earning + depreciation - capital spending 70 million 280
: million annualized.
: So implied Enterprises/Cash flow = 3.
: So this is relative safe unless
|
c***y
发帖数: 286 | 23 cash flow
【在 e****q 的大作中提到】
: "For last quarter, earning + depreciation - capital spending 70
: million 280
: million annualized."
: I didn't get this 280 number. Can you explain from which statement
: you calculate this?
:
: billion
: equipment.
: dollar.
: million 280
|
c***y
发帖数: 286 | 24 What do you think about AYR? Would it mimic your trade on these two stocks?
【在 m*****i 的大作中提到】
: This is true. How do you know we are at the cyclical peak?
: Maybe at the beginning of this cyclical cycle.
|
