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Technology Stocks : Orbital science (ORB)
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To: Angelo J Cici who wrote (1202)3/13/1998 3:59:00 PM
From: Wolfgang Leopold Beirl  Read Replies (1) of 2394
 
Yahoo's P/E ratio is very misleading IMHO.
I would think that one has to subtract the book value
from the share price before calculating a reasonable P/E ratio.
In case of ORBI this would give You approx.
43 - 10.8 / 0.69 = 46.66

BUT, it makes much more sense to consider FORWARD
P/E ratios instead of trailing earnings.
Then You would end up with
a ratio of 35 (estimate for this year) or
15 (!) based on the estimate for next year, which just shows the
growth expected for ORBI.
I used numbers from the Yahoo site.

However, I do not trust P/E ratios too much, since the next
earnings surprise might change the whole picture ...

Best regards,
Wolfgang
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