EPS, NAV for Year-end 2012

With the release of full-year financial performance of some listed companies, the table below shows earnings per share (EPS), net asset value (NAV) per share and latest share prices of these stocks as at 8 March 2013.

EPS (Cents) NAV Price

8.3.13

OCBC 79.1 $7.95 $10.30
UOB 172.0 $16.89 $19.79
DBS Bank 139.0 $12.96 $15.49
Keppel Corp 124.8 $5.14 $11.85
Semb Marine 25.8 $1.16 $4.54
SembCorp Ind 42.1 $2.52 $5.22
Keppel Land 55.5 $3.99 $4.04
UOL 105.0 $7.98 $6.69
City Dev 73.2 $8.03 $11.20
CapitaLand 21.9 $3.55 $3.62

Note:
EPS of OCBC is on core earnings and exclude divestment gains.
EPS of DBS exclude one-time item.

The table below shows Price Earnings ratio (PE) and Price to Book ratio (P/B). Both ratios gave some indications as to whether share price of one counter was traded higher compared to others in relation to latest reported full-year earnings and latest reported book value of each company.

PE P/B
OCBC 13.0 1.29
UOB 11.5 1.17
DBS Bank 11.1 1.19
Keppel Corp 9.5 2.30
Semb Marine 17.6 3.91
SembCorp Ind 12.4 2.07
Keppel Land 7.2 1.01
UOL 6.3 0.83
City Dev 15.3 1.39
CapitaLand 16.5 1.02

What can we say about the ratios shown above?
OCBC had the highest PE and P/B ratios.
SembCorp Marine had the highest PE and P/B ratios.
UOL had the lowest PE and P/B ratios followed by Keppel Land.

Copyright © 2013, limkimtong for Living Investment

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

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2 Responses to EPS, NAV for Year-end 2012

  1. Kent Ng says:

    Hi Kim Tong,

    I was trying to calculate the fair value of the 3 local banks, after watching episode 49 of Moneyweek.
    And know that there are 2 ways to do that, by;
    1. (Earning per share) x (Average PE ratio of the same trade/business)
    2. (Book Value per share) x (Average Book Value ratio of the same trade/business)

    Are you able to share the Book Value per share and the Book Value Ratio for the 3 banks too?
    I was unable to find them from either Bloomberg and Reuters.

    Also, I would appreciate to know why your coded PE of OCBC is higher than those from Bloomberg and Reuters (with average of 9.3x)?

    Thank you.

    Best Rgds ……. Kent

  2. limkimtong says:

    OCBC earnings per share shown in the blog EXCLUDES one-time huge divestment gains. PE calculated is based on core earnings of OCBC (hence lower full year actual earnings).
    Book value per share = Net Asset Value per share in the blog.

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