Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SliderOnTheBlack who wrote (51439)	9/19/1999 11:42:00 PM
From: IndioBlues	Read Replies (2) of 95453

FGI's valuation metrics Slider, why are your price to book and price to sales metrics any more indicative of value than plain old price to earnings? FGI's pe is 6.91, UFAB is 16.09, and GIFI is 11.68. By that metric, FGI is undervalued to its peers. MDR (long here, with FGI) is a multi-division conglomerate so I don't know that we can directly compare it unless we break out marine division numbers. Your analysis of FGI's backlog is good. It is declining and that is cause for concern. So is Aggie's point that you can only upgrade old iron so far and so many times. I guess I'm banking, maybe naively, on JL's proven ability to get the big jobs that are there to be gotten. I mean, compared to FGI, how many $200+ mil. semis have come out of UFAB and GIFI? With added capacity now in Canada and France, I'd like to think JL can leverage that reputation worldwide.

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