REFS is
a mine of invaluable information for the private investor.
Selecting shares without its help is like trying to
clap with one hand tied behind your back.
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Normalised
PER (Price-earning ratio)
The normalised
PER expresses the current share price as a multiple of the historic
normalised EPS for the last financial year, and as a multiple
of the forecast EPS for the following two periods. The PERs
are calculated using the latest price shown in the top right-hand
corner of the entry.
The calculation
is as follows:
Year 5:
LATEST
SHARE PRICE
PER = -----------------------------------------
NORMALISED
EPS (LAST REPORTED)
Year 6:
LATEST
SHARE PRICE
PER = -------------------------------------------------------
CONSENSUS
FORECAST EPS (RESULTS NEXT DUE)
Year 7:
LATEST
SHARE PRICE
PER = ---------------------------------------------------------
CONSENSUS
FORECAST EPS (RESULTS AFTER NEXT)
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