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

To: Broken_Clock who wrote (23165)	1/19/2006 5:56:15 PM
From: Madharry	Read Replies (1) \| Respond to of 78634

I wish the company share price had a little more getup and go .Technically it looks pretty moribund to me. Is it tremendously undervalued in your view?

To: Broken_Clock who wrote (23165)	1/20/2006 2:17:40 AM
From: bruwin	Read Replies (3) \| Respond to of 78634

You say ALJ only has $33mil. of debt left and "...now that debt is almost gone ..." ? Are you referring to "Long Term Debt" (LTD) as detailed on its Balance Sheet ? The way I see it, its latest Quarterly Balance Sheet shows LTD at $128.4mil. It was only slightly higher, 5 Quarters ago, at $142.9mil. That gives a current LTD/Shareholders Interest of (128.4/249.7)x100 = 51.4%, which, in my opinion, is very high. Maybe ALJ's comments refer, only, to "interest bearing" debt, which is not clear from the financial statements I looked at. However, whatever the nature of that debt, according to its last Annual Result, it’s also costing ALJ a post-tax number equivalent to 56% of its Bottom Line (based on a 40% tax rate). I see, from its chart, that its price has come down about 23% in the last 4 months. I got these figures at Yahoo, which agreed with the numbers at another site I usually refer to. I wonder if it was only "impatience" that caused ALJ holders to sell ? (I presume you’re referring to Alon USA Energy, Inc. as listed on the NYSE)