MARKET HEADLINE: SHORT SELLING BY OCTOBER

*on buyback* First Philippine Holdings Corporation
#21
(01-30-2012, 08:36 PM)higgs boson Wrote: bakit tanong kayo ng tanong, walang makasagot nyan

pasensya na boss higgs boson, newbie pa kasi kami... nagbabakasakali lang po na may mga chartist na nakatotok sa stock na ito...

gagaling din kami na chartist balang araw! Big GrinBig GrinBig Grin
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#22
What do you guys think?

[Image: fphv.jpg]

[Image: fphresistance.jpg]

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#23
Flag ceremonyExclamation Baka bukas?Big Grin baba pa volume ngayon e. pero lets see sa closing
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#24
FIRST PHILIPPINE HOLDINGS CORPORATION – FPH

CURRENT PRICE = PhP 76.15 (as of 083112)


P/E RATIO TEST:

2009 Earnings-per-share = PhP 12.8160
2010 Earnings-per-share = PhP 41.0430
2011 Earnings-per-share = PhP 3.0990
2012 1H Earnings-per-share = PhP 19.6770

Average earnings-per-share (based on the past 3 years and 2 quarters) = PhP 24.0780
Average price earnings ratio (based on the past 3 years and 2 quarters) = 3.16

Benjamin Graham recommends current price no more than 15 times average earnings over the past three years.
This issue passed Graham’s price-earnings ratio test.


PRICE-TO-BOOK RATIO TEST:

Total Equity = PhP 94,404,000,000
Outstanding Shares = 548,826,277
Book-Value per Share = PhP 172.01
Price-to-Book ratio (PB) = 0.44

Graham recommends that current price should not be more than 1.5 times the book value last reported.
This issue passed Graham’s price-to-book ratio test.


NET-WORKING-CAPITAL OR “RARE BARGAIN” TEST:

Current Asset = PhP 55,938,000,000
Total Liabilities = PhP 78,833,000,000
Net Working Capital = PhP (22,895,000,000)
Current Asset to Total Liabilities ratio = 0.71

* By “net-working-capital”, Graham means current assets (such as cash, marketable securities, and inventories) minus total liabilities (including preferred stock and long-term debt).

Total liabilities is greater than current asset.
Graham recommends issues with positive net-working-capital.
This issue failed Graham’s net-working-capital or “RARE BARGAIN” test.

However, equity is greater than total liabilities.
Total liabilities to equity ratio = 0.84
This company is relatively less leveraged.


GRAHAM’S “BLENDED MULTIPLIER” TEST:

P/E = 3.16
P/B = 0.44
P/E*P/B = 1.40

Graham suggests that the product of P/E and P/B should not exceed 22.5.
This issue passed Graham’s “blended multiplier” test.


LIMITATION OF THE ANALYSIS:

1. EPS calculation does not isolate “other income” and “extra-ordinary income”.
2. Analysis does not cover earnings stability, dividend records, earnings growth and futures earnings (or forward P/E ratio).
3. For future plans and prospects, read below reference.


REFERENCE:

http://www.pse.com.ph/resource/corpt/201...un2012.pdf
http://www.pse.com.ph/resource/corpt/201...ec2011.pdf

If You're So Smart, Why Aren't You Rich? - BATMAN The Animated Series: Season 1, Episode 41
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#25
hello FPH! Big Grin

COL's FV is 117.80...malayo-layo pa pero sana magtuloy-tuloy ka na... bananabananabanana
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#26
cheer lang kita FPH!!! banana

salamat sa konting barya! Big Grin
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#27
salamat muli sa kaunting barya! bananabananabanana

sa muling pagkikita! Big Grin
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#28
Pasali na dito! bought @ 70!Big Grin

Waiting to add when it hits the ground!

bananabananabananabananabanana
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
- Warren Buffett
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#29
Brod Neil! Kumustaka gayyem? Been a while. I hope you are doing well. Have a nice weekend kabsat!
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"Be QUICK, but DO NOT hurry!"

Current port: ALI, DNL, FMETF, GLO, MER, TEL, URC
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#30
still holding and bought even more today Smile

long-term hold like Trans-Asia... way below book value.
Trading stocks is never a sure thing. Please do your own homework before pressing the button.

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