Source Data - ROGER MONTGOMERY
13
Source Data Where to find the data you need on Comsec, E *TRADE and Westpac’s online trading platforms Prepared by Roger Montgomery rogermontgomery.com blog.rogermontgomery.com The information provided by Roger Montgomery is general information only. The information does not take into account your investment objectives, financial situation or particular needs. You should consider your own investment objectives, fi- nancial situation and particular needs before acting upon any information provided in this document and consider seeking advice from a financial advisor if necessary. Investing involves the risk of capital loss. Not all investments are appropriate for all people.
Transcript of Source Data - ROGER MONTGOMERY
Source Data
Where to find the data you need on Comsec, E*TRADE and Westpac’s online trading platforms
Prepared by Roger Montgomeryrogermontgomery.com
blog.rogermontgomery.com
The information provided by Roger Montgomery is general information only. The information does not take into account your investment objectives, financial situation or particular needs. You should consider your own investment objectives, fi-nancial situation and particular needs before acting upon any information provided in this document and consider seeking advice from a financial advisor if necessary. Investing involves the risk of capital loss. Not all investments are appropriate for all people.
1. Type in company Code, click Get Quote2. Click on Research
1
2
Forecast Earnings Per Share and Dividends Per Share
Equity
Shares On Issue
Net Profit
Earnings &Dividends
Enter Code: 6Quote Find Code Help
Australian Business & Finance News Headlines
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09/08/2010https://invest.etrade.com.au/QuotesAndResearch/Markets/Default.aspx
user25
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Click on the Quotes and Research Section
Enter Code: FWD 6Quote Find Code Help
Australian Business & Finance News Headlines
Australian Market Update - Intra-day
Australian Market Report - Afternoon
Australian Watch Weekly and Australian Farm View Monthly
More Headlines
09/08/2010 03:11PM AEST Australian Election Campaign Failing Refugees - Rights Group
09/08/2010 02:11PM AEST UPDATE: National Australia Bank Revives AXA Asia Pacific Bid
09/08/2010 01:16PM AEST UPDATE: Bendigo & Adelaide Bank FY Net Profit Surges To A$242.6M
More Headlines
09/08/2010 12:39 PM11:04 AM09:16 AM
More Headlines
09/08/2010 01:32PM AEST Australia Shares Midday: Up 0.3% Despite Offshore Weakness
06/08/2010 04:57PM AEST Australia Shares End Flat In Quiet Trading Ahead of US Payrolls Data
06/08/2010 01:22PM AEST Australia Shares Midday: Down 0.4%; US Jobs Data Awaited
More Headlines
06/08/2010 11:11AM AEST Australia's Kingmaker Greens Mull Tough Climate, Tax Action
05/08/2010 04:04PM AEST Australia's Opposition Needs Economics 101
05/08/2010 04:02PM AEST Australia's Opposition Needs Economics 101
28/07/2010 05:05PM AEST RBA Likely Sidelined In Aug, Rest Of This Year
Login Details
You are logged in as:
Ashley Raymond Little
Please note
We are experiencing some
problems with AAP markets
feeds on the Markets page and
we are working towards getting
them fixed over the next few
months. Until then, you should
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Markets: Australian Markets Print Help
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5:1705929:106 - Account:
1183945
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5:1705929:106 - Account:
1183945
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1183945
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user25
Callout
Enter your company asx code. In this case FWD for Fleetwood
user25
Callout
Then Press The Go Button
3 4
Enter Code: FWD 6Balance Sheet Find Code Help
Set Alert Add to Watchlist
Last Price Today's Change Open Day High Day Low 52-Week Range
10.040 0.050 (0.501%) 9.900 10.040 9.900 10.130 6.420
Live Quote | Market Depth | Charts | Interactive Charts | News | Company Profile | Recommendations
Research By:
Capital Structure ($ 000s)
Total Debt 9,000 Interest: 1,875
Long Term Debt 9,000 (6% of capital)
Preferred Stock 0
Shareholders Equity 141,749 (94% of capital)
Current Position ($ 000)
2007 2008 2009
Cash Assets 10,288 8,226 6,018
Receivables 48,474 49,669 36,536
Inventory 35,004 42,134 35,559
Others 11 10 9
Total Current Assets 93,777 100,039 78,122
Accounts Payable 44,040 47,024 36,145
Debt Due 0 0 0
Others 6,761 12,585 7,876
Total Current Liabilities 50,801 59,609 44,021
Per Share Statistics
2000/06 2001/06 2002/06 2003/06 2004/06 2005/06 2006/06 2007/06 2008/06 2009/06
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August 09, 2010 3:18 PM AEST
Shares: Balance Sheet
Fleetwood Corporation Limited (FWD) (Trading Status: OPEN)
As at 9/08/2010 3:18:53 PM
Real-Time
7/07/2010 2:06:26 PM
Full Execution of Order
5:1705929:106 - Account:
1183945
7/07/2010 2:06:26 PM
Partial Execution of Order
5:1705929:106 - Account:
1183945
7/07/2010 2:06:26 PM
Partial Execution of Order
5:1705929:106 - Account:
1183945
Full View
Profile Balance Sheet Company Overview Dividends Major Shareholders Printable Report
Messages
Page 1 of 3E*TRADE Australia | Online Share Trading
09/08/2010https://invest.etrade.com.au/QuotesAndResearch/Shares/Profile.aspx?symbol=FWD&tab...
user25
Callout
Go to This drop down button and find the Balance Sheet Section
user25
Callout
A Company with Little or No Debt
user25
Callout
Be careful some companies have alot a debt maturing this year and this will not be in the long term debt area
user25
Text Box
Scroll to Next Page for lots of Goodies
3 4
Sales ($) 2.63 3.30 4.29 4.80 5.45 5.65 5.33 6.22 6.81 6.82
Cash Flow
(cents)
19.0 7.5 65.6 44.9 41.0 43.1 39.6 80.9 118.9 103.8
Earnings
(cents)
13.2 12.8 20.5 28.5 43.9 39.1 43.7 53.4 67.8 68.5
Dividends
(cents)
11.5 12.0 13.0 14.0 18.0 60.0 60.5 43.0 65.0 66.0
Franking
(%)
100 100 100 100 100 100 100 100 100
Capital
Spending
(cents)
-35.2 -15.8 -37.2 -53.4 -48.8 -71.8 -32.9 -42.8 -0.6 -30.7
Book Value
($)
1.18 1.23 1.32 1.80 2.12 2.27 2.29 2.39 2.56 2.69
Shares
Outstanding
(m)
32.5 35.7 36.8 44.5 45.5 46.3 48.3 50.0 51.2 52.6
Avg P/E
Ratio
11.8 10.6 8.7 10.7 13.7 20.5 15.5 14.8 14.1
Relative P/E
(%)
88.3 79.4 63.0 80.7 96.6 140.0 113.1 100.8 92.0 84.6
Total
Return (%)
-12.1 9.7 113.3 70.8 92.6 -15.0 16.1 42.7 14.0 -28.8
Relative
Return to
Market (%)
-28.9 0.9 117.8 71.8 70.2 -39.7 -8.2 12.4 26.2
Relative
Return to
Sector (%)
-- -- -- -- -- -- -- -- --
Historical Financials
2000/06 2001/06 2002/06 2003/06 2004/06 2005/06 2006/06 2007/06 2008/06 2009/06
Revenues ($
million)
74.7 114.6 158.4 188.7 251.2 261.8 252.4 309.6 343.5 354.6
Operating
Margin (%)
16.0 13.8 12.1 13.2 15.5 13.2 15.3 15.7 17.9
Depreciation
($ million)
-4.4 -4.7 -4.4 -4.7 -5.8 -5.9 -7.0 -7.4 -9.9 -
Amortisation
($ million)
-1 -2 -2 -1 -2 -2 -1 -1 -1
Nt Profit
Bef.
Abnormals
($ million)
3.8 4.4 7.6 11.2 20.2 18.1 20.7 26.6 34.2
Net Profit ($
million)
3.8 4.4 7.6 11.2 20.2 25.1 20.7 26.6 34.2
Page 2 of 3E*TRADE Australia | Online Share Trading
09/08/2010https://invest.etrade.com.au/QuotesAndResearch/Shares/Profile.aspx?symbol=FWD&tab...
user25
Callout
This is a flaw with etrade as you cant see all the figures. The 2009 figures aren't shown. To fix this go to the very bottom of the page and click the bar as far right as it will go. But be warned you probably wont be able to see the description buttons so you have to really know where you are
user25
Callout
This is the equity per share that roger always speaks about. No Need to get total equity then divide by number of shares on issue. It is already calculated for you
user25
Callout
The 2009 figure is hear. take my word for it it is $2.69
3 4
Income Tax
Rate (%)
29.6 35.1 32.4 32.4 31.1 30.4 29.5 30.4 30.3
Net Profit
Margin (%)
5.0 3.9 4.8 5.9 8.1 6.9 8.2 8.6 10.0
Employees
(thousands)
0.0 0.6 0.6 0.8 1.0 1.0 0.9 1.0 1.1
Long Term
Debt ($
million)
29.7 38.0 33.1 29.0 27.3 22.0 0.0 28.0 24.0
S/holders
Equity ($
million)
38.5 43.8 48.4 80.3 96.4 105.2 110.7 119.6 130.9 141.7
Return on
capital (%)
7 8 11 12 18 15 20 19 23
Return on
equity (%)
9.8 10.1 15.6 14.0 21.0 17.2 18.7 22.2 26.1
Payout
Ratio (%)
87 94 63 49 41 153 138 81 96
More Research: 6Balance Sheet
PLEASE READ THE IMPORTANT DISCLOSURES BELOW
The E*TRADE Australia service is provided by ETRADE Australia Securities Ltd (trading as “E*TRADE Australia”) (ACN 078 174 973, AFSL No. 238277),
a Participant of the ASX Group.
You should consider your own investment objectives, financial situation and particular needs before acting upon any information provided on this website. E*TRADE
Australia does not provide investment advice to online retail clients.
© 2003 E*TRADE Financial Corporation and E*TRADE Australia. All rights reserved.
E*TRADE and the Asterisk Logo are registered trademarks of E*TRADE Financial Corporation or its subsidiaries and are used with permission.
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Page 3 of 3E*TRADE Australia | Online Share Trading
09/08/2010https://invest.etrade.com.au/QuotesAndResearch/Shares/Profile.aspx?symbol=FWD&tab...
user25
Callout
This is the bar I refer to above. Move it as far to the right as you can
Enter Code: FWD 6Profile Find Code Help
Set Alert Add to Watchlist
Last Price Today's Change Open Day High Day Low 52-Week Range
10.030 0.040 (0.400%) 9.900 10.040 9.900 10.130 6.420
Live Quote | Market Depth | Charts | Interactive Charts | News | Company Profile | Recommendations
Research By:
Company Profile
Fleetwood Corporation Ltd (FWD) operates in the mobile accommodation
market, focussing on three sectors: retirement, recreation and resource
development. The company has two key divisions: recreational vehicles
and manufactured accommodation.
Balance Sheet
Capital Structure ($ 000s)
Total Debt 9,000 Interest: 1,875
Long Term Debt 9,000 (6% of capital)
Preferred Stock 0
Shareholders Equity 141,749 (94% of capital)
Key Measures
Value 3
Average
Risk 3
Average
Growth 3
Average
Income 2
Above Average
Value Company Market Sector
Earnings 1.38 1.04 1.38
P/E Ratio 15.19 14.26 7.28
P/B Ratio 3.71 1.37 1.36
P/E Growth 5.95 1.61 5.95
Previous
Close
52
Week
High
52
Week
Low
9.99 10.13 6.42
P/E Ratio
15.19
Sector
Automobiles & Components
Market Cap ($ Million)
539
Total Shareholder Return
(avg annual rate)
1 Yr 3 Yr 5 Yr 10 Yr
38.1% 9.9% 19.1% 31.0%
Earnings and Dividends
Forecast (cents per share)
Curr 2010 2011
EPS 68.5 65.8 72.0
DPS 66.0 66.0 70.9
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August 09, 2010 3:27 PM AEST
Shares: Profile
Fleetwood Corporation Limited (FWD) (Trading Status: OPEN)
As at 9/08/2010 3:27:09 PM
Real-Time
7/07/2010 2:06:26 PM
Full Execution of Order
5:1705929:106 - Account:
1183945
7/07/2010 2:06:26 PM
Partial Execution of Order
5:1705929:106 - Account:
1183945
7/07/2010 2:06:26 PM
Partial Execution of Order
5:1705929:106 - Account:
1183945
Full View
Profile Balance Sheet Company Overview Dividends Major Shareholders Printable Report
Messages
Page 1 of 2E*TRADE Australia | Online Share Trading
09/08/2010https://invest.etrade.com.au/QuotesAndResearch/Shares/Profile.aspx?symbol=FWD&tab...
user25
Callout
Again Move to this drop down button and find profile
user25
Callout
Then Press Go
user25
Rectangle
user25
Callout
These are the consensus analyst forecast. I understand the come straight from morningstar but I can't confirm this. For those that are interested they are identical to commsec
user25
Callout
To find ROE take 65.8 and divide by 269 being the book value. Note the eps is in cents and the bookvalue is in dollars so you have to make a slight adjustment. In this case the roe is 24.35%
user25
Callout
Payout ratio is dps divided by eps. In this case. close enough to 100%
P/S Ratio 1.46 1.71 0.97
Income Company Market Sector
Dividend 4.6% 4.6% 4.6%
Franking 100.0%
Tax adj 3.6% 3.3% 3.6%
Stability 98.1% 91.7% 98.1%
Risk Company Market Sector
Beta 1.25 1.07 1.42
Current ratio 1.77 1.64 2.38
Quick ratio 0.97 1.09 0.97
Debt/Equity 6.4% 31.8% 10.5%
EarningsStability 55.7% 54.2% 42.1%
Income coverage 27.58 3.99 -1.00
Growth Rates 10 yr 5 yr 1 yr 2 yr Fcast
Sales 11.2% 4.6% 0.2%
Cashflow 20.8% 20.4% -12.6%
Earnings 20.0% 9.3% 1.0% 2.6%
Dividends 21.4% 29.7% 1.5% 3.6%
Book Value 9.6% 4.9% 5.4%
Index Participation
Index Name Weight
All Ordinaries 0.04%
S&P/ASX 200 0.04%
S&P/ASX 200
Automobiles &
Components (Industry
Group)
100.51%
S&P/ASX 200
INDUSTRIAL
0.06%
S&P/ASX 300 0.04%
S&P/ASX 300
Automobiles &
Components (Industry
Group)
100.51%
S&P/ASX SMALL
INDUSTRIALS
0.75%
S&P/ASX SMALL
ORDINARIES
0.46%
More Research: 6Profile
PLEASE READ THE IMPORTANT DISCLOSURES BELOW
The E*TRADE Australia service is provided by ETRADE Australia Securities Ltd (trading as “E*TRADE Australia”) (ACN 078 174 973, AFSL No. 238277),
a Participant of the ASX Group.
You should consider your own investment objectives, financial situation and particular needs before acting upon any information provided on this website. E*TRADE
Australia does not provide investment advice to online retail clients.
© 2003 E*TRADE Financial Corporation and E*TRADE Australia. All rights reserved.
E*TRADE and the Asterisk Logo are registered trademarks of E*TRADE Financial Corporation or its subsidiaries and are used with permission.
Terms and Conditions | Financial Services Guide | Privacy Statement | About Us | Contact Us
Site Map | Open an Account
Page 2 of 2E*TRADE Australia | Online Share Trading
09/08/2010https://invest.etrade.com.au/QuotesAndResearch/Shares/Profile.aspx?symbol=FWD&tab...
user25
Text Box
You now have all the info to do Roger's valuation. You can even impress your friends by telling them what the business is worth in 2011 by calculating the bookvalue in 2010 and using the 2011 forecasts. In this case the payout ratio is 100% so the book value does not increase but it will be the difference between EPS and DPS plus the previous years book value
user25
Text Box
Soon after the company profit season is finished the 2012 forecasts will appear without having to do anything.
user25
Text Box
Note that the bookvalue and forecasts eps can be found on the comsec site as well. The BV under research and financials and the eps under research and forecasts. I have an account with both comsec and etrade but i use etrade to extract the data as they have forecast dps and I havn't been able to find these on the comsec site yet
1. Click on Quotes & Research2. Select Quotes3. Type the company Code in the Search box. Click Display4. Click Financials
12 3
4
Equity
Shares On Issue
Net Profit
Earnings &Dividends
