For
investors interested in buying shares at a discount to asset
value or near to asset value, these tables are of particular
interest. It is important to note that the measure is a
harsh one - all intangible assets, such as brand names,
copyrights and trademarks, are treated as having a nil value.
On occasions they can be very valuable indeed.
The PER, 5-year historic EPS growth rate, prospective EPS
growth rate and prospective dividend yield are shown in
the following columns. The price-to-sales ratio is then
shown as this is often of particular interest with asset
situations. The last column has been allocated to net gearing
as excessive borrowings are often the reason for a company’s
share price standing at a discount to realisable value.
REFS is
a mine of invaluable information for the private investor.
