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Jolly...of course...hence I think sp may have run out of steam...time will tell though. Wish I had known all this back then!!!!! Would have defo invested! So back then it was about 10....now about 15...will monitor to see how far it can go as I have seen some companies today with ev/ebit of 20s and still going???!! What do u think is ceiling for ev/ebit??
yes..was cheaper then... ...but now EV is heftier £48m..so highly rated, no?
At the time of results the sp was about 200 Meaning ev would have been about 25-30 Sl..ev is mcap plus debt minus cash Ebit it ebit!
well net cash (net of all non trade creditor type liabilities...so net of pension deficit, bank debt etc)
is that how you you work out a quick EV? MCAP - cash?
MCAP minus cash...c£54m-£5.6m?
Yes I'm using 3m for pbit ...what value are using for ev? I get either 25m to 30m including liabilities as they have no debt. 25/8 = 8.3. 30/3 = 10.
run rate EBIT is c£3m (2* interims)...or have you made some Jolly interesting adjustments? ...if £3m, this is highly rated at c15, no?
Ev/ebit of about 8.3 I make...ev was about 25m at time of results. For ebit double ebit of 3. Excellent investment here on all accounts.
This is superb news. Wondered what all the trading activity was about. I tip my hat to the ANP team once again. Now in three huge markets, China, USA and Brazil and doing it properly using local contacts. This has made my morning.
wow!!!! http://www.investegate.co.uk/anpario-plc--anp-/rns/u-s--office/201312060700078540U/
just under 3% of the company changed hands in one trade today at 271.5. RNS due?
Well...for me probably best company on aim. No debt, recurring revenue, cash and dividends increasing...don't think a target is needed...defo long term investment.
hmm.. what is going on here? My short term target was 250p and we have just smashed through that. Volume not huge but higher than normal. Could just be shortage of stock pushing this higher or something more interesting?, can't see anything else, not complaining though! Decent co with exposure to China might be the reason.
JUST KEEPS ON GOING!!!!!
Just keeps going lad!
"The most important figure is not operating income. It is return on unleveraged equity. That may not make sense to you now, but by the end of the lesson it will. It is possible (though unlikely) for a business that generates 3% operating margins to be more profitable for owners than a business that has 20% operating margins"
net profit / average shareholder equity = 2104/12880 = 16.3% a note on operating income mentioned earlier: "The most common reason for high operating margins relative to competitors is a low-cost operating model, which means that a company can deliver merchandise or services to customers at much cheaper prices than competitors and still make money. The classic example is Wal-Mart, which is able to get everything from toothpaste to socks into its store at far lower prices due to the efficiency of its warehouse distribution system"
From final results: Profit margin= gross profit/revenue 7660/23509 = 32.6% Operating profit margin = operating income/sales...1593/23509 = 6.7%
just checked return on assets for GSK - 9.75% so very good to get similar level as GSK
Asset turnover - The asset turnover ratio calculates the total revenue for every pound of assets a company owns. for ANP - asset turnover = sales/average assets: 23509/22305 = 1.05 Meaning for every £1 in assets that ANP owned, it generated sales of £1.05p Return on assets- tells an investor how much profit a company generated for each £1 in assets = net profit/average assets = 2104/22303 = 9.4%
Working capital for anp...current assets - current liabilities = £7.9M...excellent for small cap. Working cap per pound of sales is: 7.9M / 23.5m from yearly total sales = .336 = 33.6%. This is good as anything above.25% is good imho.
Quite possibly the perfect company as an small mcap from a financials point of view: current ratio (current assets/current liabilities) = 2.4 = over twice as many assets than liabilities quick ratio (current assets - inventories)/(liabilities) = 2. the quick ratio test is a reflection of the liquidity of a business - the higher the better (up to a point) and even in this test of liquidity ANP has twice as many assets than liabilities. will do more analysis later!
JUST. KEEPS. GOING!!!!!
Interesting!