Wednesday, March 06, 2013
CMI Limited (CMI) has rejoined the A1 club. Competitor ARB Corp (ARP) is also rated A1 by Skaffold. Whilst ARB’s business model is focused on the manufacture and distribution of 4x4 accessories for recreational 4WD vehicles, CMI’s expands beyond 4WD accessories to include specialist cabling and electrical products for a range of industry sectors that includes light commercial and heavy transport vehicles. Unfortunately both companies are trading at prices higher than Skaffold’s intrinsic value estimate.
Thursday, February 07, 2013
Skaffold’s Score for NeuroDiscovery (NDL), a company engaged in the development of compounds for the treatment of pain and listed investment company Ozgrowth (OZG), have changed following the release of their half-year results.
Tuesday, September 11, 2012
The biggest news this week is Harvey Norman’s decline from A3 to A4.
The company reported earnings that were 6 cents lower that the 2011 results. Return on equity also fell and debt increased to $779m, equating to a Net Debt / Equity ratio of 26%. In 2011 HVN’s Reported Net Profit After Taxes was $252.255m. This year reported NPAT fell to $172.411m.
HVN’s intrinsic value has been on a downward trend since 2006. Can management reignite HVN?