P/E ratio: (Price / EPS)
When comparing two equally competitive companies, one with lower P/E ratio is a better value stock
When one company is more competitive and valued more in the market due to its future prospects, higher P/E ratio could be good when looked along with other indicators and their Trends.
By Warren Buffet Rule, to get back my money in no later than 15 years. P/E ratio > 15 can be considered risky if Leverage Ratio is >1.5 and P/B Ratio >3
Leverage Ratio: (Debt / Equity)
Lower Leverage Ratio will be less riskier as company has less debt.
Leverage Ratio under one means under-leveraged, 1-1.5 is good , more than 1.5 is a concern more that 2 is risky
Return on Equity: ( Net Income / Book Value)
Increasing trend in Return on Equity means management is efficient in providing NetIncome at higher rate than the decrease in Book Value ( e.g. depreciation / asset writeoffs etc). Hence to be always looked along with Book Value.
EPS: (Net Income - Dividend on Preferred Stocks)/Outstanding Shares
Increasing Trend is good
- Ideal healthy company will have increase in NetIncome, Dividend Payout Ratio remains same/ increases, Outstanding Shares remain same or increase.
- If Outstanding Shares decrease (due to buyback) then If company didn't pay/reduced its dividend ( Check whether Dividend Payout Ratio decreased?) , Management may be seeking more control why ? Selloff / Growth see the trend in NetIncome , Revenue , Hardship/Competitiveness of company in the Industry, Industry Trend in general and challenges in the industry.
- If company recently had additional Shares Offering, EPS may take a dip.
- Look at previous EPS, ROE, P/E ratio, Current Leverage Ratio to assess potential.
- Look at Products and Competitiveness in the Industry
P/B ratio( LastPrice/ LastQuarterBookValue Per Share):
- How much is the company valued for its overall reputation. Look at Products and Competitiveness in the Industry.
- If P/B ratio is decreasing means company loosing confidence in the market.
- If the P/B Ratio has increased, Check for Spike, if there is a Spike there is strong confidence for growth in reputation and revenue in the market, if its gradual same confidence continues.
EBIT Comparison Year By Year: Increased EBIT is good.
Taxes Year By Year:
Tax Increase [ Check if there were Penalties, or it was only for good reasons, additional assets / Income]
Interest Payment Year By Year:
If this increases check if Leverage is increasing, if ROE is also increasing at higher rate then debt performance is good.
If this decreases, check if leverage is decreasing, if healthy P/E criteria applies , management may be decreasing the debt and stock may gear for growth.
Net Income Year By Year
Increase in NetIncome is good
Book Value Year By Year
Increase in Book Value is good.