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J Arp & Company Research and Trading - Valuation

Chicago Board of Trade


Date 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Total Revenue 28982 28491 27995 27730 24522 25370 29202 27892 25748 46653 45150
Earnings 3148 2056 1780 973 -1103 4339 2314 7690 4480 2405 3636
Current Assets 12870 12422 15211 18462 13459 14801 11656 12653 9236 11874 11103
Intangible Assets 4587 4799 4965 5217 4681 6907 8365 8724 2566 1285 221
Total Assets net intangibles 27190 28451 30667 31822 29940 33412 31061 32053 35970 41657 37649
Total Assets 31777 33292 35632 37039 34621 40319 39426 40777 38536 42942 37870
Current Liabilities 7940 7436 7939 13043 7096 8067 9255 11228 11610 14070 10987
Long Term Debt 6013 6783 5548 4301 5647 5350 6658 6625 4495 5929 5087
Other LT Liabilities 7692 8441 8692 8909 9829 7336 7729 7872 7640 8919 8450
Minority Interest 441 490 1110 497 2423 2424 380 517 407 670 620
Total Liabilities 22355 24329 24255 27258 25558 25867 26127 27902 24582 31672 26917
Equity 9422 8963 11377 9781 9063 14452 13299 12875 13954 11270 10953
Shares 922 919 994 997 993 1001 1042 1053 1140 1152 1158
Dividends 1378 1439 1404 1407 1401 1460 1465 1511 1549 1401 1261
Operating Cash Flow 3736 2542 3231 2589 2439 2344 5070 4840 4132 4027 6388
Investing Cash Flow -1345 -602 1936 -3375 -2592 6313 -1244 -6811 -178 -4022 -2660
Financing Cash Flow -2323 -2851 -5550 31 -2118 -4171 -3537 -2364 -3053 -451 -4018
Tangible Book 4835 4122 6412 4564 4382 7545 4934 4151 11388 9985 10732
Total Capital (book) 15435 15746 16925 14082 14710 19802 19957 19500 18449 17199 16040
Market Cap (Equity) 0 44794 40828 45755 41298 37162 37556 41709 59823 47655 53064
Total Capital(Mkt Val Equity, Debt at Bk) 6013 51577 46376 50056 46945 42512 44214 48334 64318 53584 58151
 
Debt to Tangible Assets 22% 24% 18% 14% 19% 16% 21% 21% 12% 14% 14%
EPS (Current Shares) 3.41 2.23 1.93 1.06 -1.2 4.71 2.51 8.34 4.86 2.61 3.94
EPS (Then Current Shares) 3.41 2.24 1.79 0.98 -1.11 4.33 2.22 7.3 3.93 2.09 3.14
Tangible Book per Share 5.24 4.48 6.45 4.58 4.41 7.53 4.73 3.94 9.99 8.66 9.27
Book Value per Share 10.22 9.75 11.44 9.81 9.12 14.42 12.75 12.23 12.24 9.78 9.46
DPS (Then Current Shares) 1.49 1.56 1.41 1.41 1.41 1.46 1.4 1.43 1.36 1.22 1.09
Return on Sales 10.9% 7.2% 6.4% 3.5% -4.5% 17.1% 7.9% 27.6% 17.4% 5.2% 8.1%
Return on Assets 9.9% 6.2% 5.0% 2.6% -3.2% 10.8% 5.9% 18.9% 11.6% 5.6% 9.6%
Return on Equity 33.4% 22.9% 15.6% 9.9% -12.2% 30.0% 17.4% 59.7% 32.1% 21.3% 33.2%
Return on Total Capital (at Book) 20.4% 13.1% 10.5% 6.9% -7.5% 21.9% 11.6% 39.4% 24.3% 14.0% 22.7%
Return on Total Capital (at Mkt) 52.4% 4.0% 3.8% 1.9% -2.3% 10.2% 5.2% 15.9% 7.0% 4.5% 6.3%
Return on Tangible Book 65% 50% 30% 23% -27% 62% 53% 212% 49% 30% 43%
Return on Equity (Current) 33% 23% 17% 11% -13% 33% 20% 68% 40% 27% 42%
Debt to Capital 39% 43% 33% 31% 38% 27% 33% 34% 24% 34% 32%
Sales Growth 2% 2% 1% 13% -3% -13% 5% 8% -45% 3% 4%
Earnings Growth 53% 16% 83% -188% -125% 88% -70% 72% 86% -34% 10%
Margin Growth 51% 13% 81% -178% -126% 116% -71% 58% 238% -36% 6%
Debt to Capital (at Mkt) 100% 13% 12% 9% 12% 13% 15% 14% 7% 11% 9%

 AverageStDevCurrent-Avg# of StDev
EPS (Current Shares) 3.13 2.44 0.28 0.12
Tangible Book per Share 6.3 2.2 -1.06 -0.48
Book Value per Share 11.02 1.7 -0.8 -0.47
DPS (Then Current Shares) 1.39 0.13 0.1 0.81
Return on Sales 10% 8% 0.01 0.14
Return on Assets 8% 6% 0.02 0.42
Return on Equity 24% 18% 0.09 0.53
Return on Total Capital (at Book) 16% 12% 0.04 0.36
Return on Tangible Book 54% 58% 0.11 0.19
Return on Equity (Current) 27% 20% 0.06 0.28
Debt to Capital 33% 5% 0.06 1.04

Date 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Share (Unit) Price 0.0 48.71 41.06 45.88 41.55 37.09 36.01 39.61 52.46 41.34 45.82
Dividend Yield 0.0% 3.21% 3.44% 3.08% 3.39% 3.93% 3.9% 3.62% 2.59% 2.94% 2.38%
Current P/E 0.0 21.79 22.94 47.02 -37.44 8.56 16.23 5.42 13.35 19.82 14.59
Earnings Yield 0.0% 4.6% 4.4% 2.1% -2.7% 11.7% 6.2% 18.4% 7.5% 5.0% 6.9%
Price to Tangible Book 0.0 10.87 6.37 10.03 9.42 4.93 7.61 10.05 5.25 4.77 4.94
Price to Sales 0.0 1.57 1.46 1.65 1.68 1.46 1.29 1.5 2.32 1.02 1.18
P/(E10) 14.65
EY (E10) 6.83%
P/(E5) 0.0 27.9 22.79 14.88 10.81 8.05 8.09        
Yield 0.0% 3.6% 4.4% 6.7% 9.3% 12.4% 12.4%

 
 
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