Joseph,
re your comments:
"('94 fiscal year ends July 31, 1994)
EPS '93 (actual) = $0.66
EPS '94 E = $1.19 gives 12 month trailing P/E = 21/1.19 = 17.6;
EPS '95 E = $1.72 gives current FY estimated P/E = 21/1.72 = 12.2."
your numbers are wrong. I have the FY '98 annual report in my lap as
I write this (in thousands):
1994 1995 1996 1997 1998
Net Sales 1,334,436 2,232,625 4,096,007 6,440,171 8,458,777
Net Income 322,981 456,489 913,324 1,048,679 1,350,072
diluted EPS .24 .32 .61 .68 .84
So in 4 years time, Cisco revenues grew 534% (avg annualize 52%), and
EPS grew 250% (avg annualize 26%). As far as your share price of $21,
that is not true either. Split adjusted, Cisco didn't reach $21 until
3rd quarter 1996. In 1994, it traded between $9.25 and $12.875 per
share. At FYE 1994, the stock was trading at around $12.875 per
share, giving the stock a trailing PE of 54.
So, bottom line, please check your figures before posting on these
threads. Alot of people see numbers and think they are true without
checking up on them. People will respect your opinion more if you can
back up your figures. |
