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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (13074)9/18/2001 6:23:54 PM
From: Brendan W  Read Replies (2) | Respond to of 78661
 
re: BEAV
I have only spent a little time on this one. How is BEAV going to ride it out if there is a 20-30% overcapacity in the aircraft industry? Do they have "take or pay" contracts? Or are you assuming the demand shortfall is a blip?

standardandpoors.com



To: Paul Senior who wrote (13074)9/19/2001 12:57:11 AM
From: Night Trader  Respond to of 78661
 
Paul,

As far as I could tell, from looking at the company reports, BEAV has a significantly negative tangible book value from goodwill ($700 million in acquisitions). It wasn't called goodwill but "intangible assets" but I assume it amounts to the same thing. On the other hand depreciation of that goodwill depresses earnings considerably so cash earnings are much higher.


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