This weekend, information was obtained from the Internet to update
outstanding stock shares, last 12 months revenues, and earnings
estimates. From this information PSR, PBR and next years PEs were
calculated. The result is shown in the table below. The table is
sorted by ascending PSR.
There are several comments that can be made about the results listed
in the table. The first entry in the table, AFLX, has a very low PSR
and PBR. The earnings projection for both this year and next year
are positive, which cannot be said for most stocks in the table.
Also, next years PE projection is only 4, the only stock out of 40 in
the table to have a PE under 10. Even with the relatively good
outlook for AFLX, the market treats it like it is going to go out of
business in the near future.
Looking at the bottom of the table to obtain results for the group,
the sum of earnings for this year is a negative 4.04 per share while
for next year it is a positive 34.90 per share. This results in an
average group PE of 23 based on next years earnings projection.
The four stocks in the SOX-X index, AMAT, KLAC, TER and NVLS have
next year PE projections of 24, 31, 18 and 16 respectively. In the
last three weeks, since 4/9, AMAT, KLAC, NVLS and TER have lost 19,
7, 26 and 15 percent respectively.
Take a look at MASK, number 9 in the table. It has earnings
projections of 1.08 this year and 1.21 for next year. This is a PE
of 11 and 10 respectively. Contrast that to two of the competitors,
PLAB and DPMI. PLAB has projected earnings of 0.58 this year and
1.09 next year. This is a PE of 41 and 22 respectively. DPMI has
numbers fairly close to PLAB. DPMI has projected earnings of 0.99
this year and 1.78 for next year. This is a PE of 44 and 25
respectively. This disparity between MASK compared to PLAB and DPMI
has existed for a very long time - hard to understand?
Please remember, the data shown in the table is subject to error
during the assembly process. Any suspect numbers should be verified
as appropriate.
04/30/99 LAST NEXT
CLOSE 12 MONS 12 MONS EARNINGS EST YEAR
SYMBOL PRICE PSR PBR CURR YR NEXT YR PE
AFLX 2.56 0.15 0.47 0.03 0.57 4
ASEC 1.13 0.17 0.25 -1.46 -0.29
SFLX 3.44 0.24 0.44 -0.29 0.15 23
WFR 6.00 0.49 0.84 -3.67 -0.64
SMTL 7.56 0.72 1.21 -0.47 0.35 22
WJ 25.38 0.80 1.26 0.90 1.75 15
MICN 9.38 0.84 1.35 -0.47
FSII 6.94 1.00 0.84 -0.88 -0.34
MASK 12.25 1.05 1.30 1.08 1.21 10
TGAL 3.44 1.16 1.04 -1.30 -0.64
SVGI 13.25 1.17 0.78 -0.81 0.50 27
KLIC 22.88 1.53 1.92 -0.48 1.21 19
LTXX 6.44 1.56 4.57 -0.16 0.30 21
SFAM 11.50 1.57 0.65 -0.66 0.24 48
MTSN 6.81 1.73 1.95 -0.19
LRCX 31.50 1.81 2.93 -2.04 0.90 35
ASYT 18.31 1.88 1.96 -1.08 -0.10
COHU 28.50 1.94 2.03 1.17 2.24 13
IMSC 11.50 2.17 1.60 0.64 0.80 14
NANO 7.50 2.25 2.08 0.11 0.65 12
ETEC 30.88 2.28 2.69 0.73 1.42 22
BRKS 21.50 2.42 1.96 0.02 0.77 28
DPMI 43.75 2.59 2.57 0.99 1.78 25
PLAB 23.94 2.62 2.86 0.58 1.09 22
GSNX 12.00 2.73 2.48 -1.06 0.55 22
CYMI 18.25 2.86 4.70 0.11 1.18 15
TER 47.19 2.86 3.91 1.61 2.63 18
CFMT 8.75 2.89 0.92 -1.19 0.31 28
VECO 38.50 2.93 5.41 1.50 2.21 17
CMOS 25.69 3.26 3.63 -0.47 1.22 21
EGLS 13.69 3.32 1.62 -0.78 0.48 29
NVLS 47.25 3.50 4.39 1.54 2.99 16
PHTN 10.00 3.59 4.95 0.03 0.55 18
UTEK 13.88 3.68 1.39 0.16 0.95 15
PRIA 24.81 4.10 4.73 -0.74 0.72 34
HELX 17.66 4.39 6.22 0.34 0.93 19
KLAC 49.63 5.05 3.67 0.68 1.59 31
AMAT 53.63 5.75 6.21 1.05 2.20 24
ATMI 23.00 5.79 3.69 0.53 1.10 21
ASML 39.00 5.93 9.24 0.36 1.37 28
TOTALS 799.27 2.42 2.67 -4.04 34.90 23 |
