GTRONIC – Fundamental Analysis (29 Oct 2014)

GTRONIC Analysis:-

Excel –

My View:-

– Fair Value
  – 3Y DCF
    – Good Scenario: 5.57 (Fair value uncertainty: LOW)
    – Base Scenario: 4.92 (Fair value uncertainty: MEDIUM)
    – Bad Scenario: 4.34 (Fair value uncertainty: HIGH)
    – Ugly Scenario: 3.83 (Fair value uncertainty: VERY HIGH)
  – Absolute EY%:
    – Trailing:
      – FY13 (EPS: 0.19) – Fair value 3.91 (Fair Value Uncertainty: VERY HIGH)
      – R4Q (EPS: 0.222) – Fair value 4.56 (Fair Value Uncertainty: MEDIUM)
    – Forward:
      – FY14 (EPS: 0.236) – Fair value 4.87 (Fair Value Uncertainty: MEDIUM)
      – FY15 (EPS: 0.283) – Fair value 5.82 (Fair Value Uncertainty: LOW)
    – EPS applied to reach the current stock price (4.24): 0.206
– Shariah status – Globe could be trade at a premium given the ample domestic liquidity and strong participation by domestic institutions.
– GTRONIC has been consistently delivering steady earnings growth by keeping pace with market demands. This was shown in its latest quarterly results announcement. With a growing cash pile, the company mostly will continue its attractive dividend payouts. I believe that there is still slight room for the stock to appreciate further with expectation on another solid year ahead in FY15.
– The FY15E dividend yield of 6% also looks attractive.

Latest Financial – Q3 2014 Financial Report (28 Oct 2014)

At the time of writing, I did not own shares of GTRONIC.


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