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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 34251 38826 34209 30141 26764 26539 33726 29389 26273 25070 20847
Earnings 4724 8664 7516 5641 3117 1291 10535 7314 6068 6945 5157
Current Assets 17604 21194 24058 22882 18925 17633 21150 17819 13475 15867 13684
Intangible Assets 4869 3873 3719 3705 4330 5127 5941 4934 0 0 0
Total Assets net intangibles 41986 44441 44424 43438 39894 39268 42004 38915 31471 28880 23735
Total Assets 46855 48314 48143 47143 44224 44395 47945 43849 31471 28880 23735
Current Liabilities 9057 9234 8006 6879 6595 6570 8650 7099 5804 6020 4863
Long Term Debt 2060 2106 703 936 929 1050 707 955 702 448 728
Other LT Liabilities 346 89 0 0 0 0 0 130 201 2041 275
Minority Interest 0 0 0 0 0 0 0 0 0 0 0
Total Liabilities 11838 12132 9564 9297 8756 8565 10623 11314 8094 9585 6863
Equity 35017 36182 38579 37846 35468 35830 37322 32535 23377 19295 16872
Shares 5758 5919 6253 6487 6575 6690 6721 6669 6631 6512 6566
Dividends 2325 1958 1022 524 533 538 470 366 217 180 148
Operating Cash Flow 2790 14823 13119 11515 9129 8789 12827 12134 9191 10008 8743
Investing Cash Flow -289 -6362 -5032 -7090 -5765 -330 -10035 -6249 -6506 -6859 -5268
Financing Cash Flow -1468 -9544 -7651 -3858 -3930 -3465 -3511 -4228 -4749 -3212 -773
Tangible Book 30148 32309 34860 34141 31138 30703 31381 27601 23377 19295 16872
Total Capital (book) 37077 38288 39282 38782 36397 36880 38029 33490 24079 19743 17600
Market Cap (Equity) 0 119860 152948 146736 202510 99748 201630 190733 259338 183117 109193
Total Capital(Mkt Val Equity, Debt at Bk) 2060 121966 153651 147672 203439 100798 202337 191688 260040 183565 109921
 
Debt to Tangible Assets 5% 5% 2% 2% 2% 3% 2% 2% 2% 2% 3%
EPS (Current Shares) 0.82 1.5 1.31 0.98 0.54 0.22 1.83 1.27 1.05 1.21 0.9
EPS (Then Current Shares) 0.82 1.46 1.2 0.87 0.47 0.19 1.57 1.1 0.92 1.07 0.79
Tangible Book per Share 5.24 5.46 5.57 5.26 4.74 4.59 4.67 4.14 3.53 2.96 2.57
Book Value per Share 6.08 6.11 6.17 5.83 5.39 5.36 5.55 4.88 3.53 2.96 2.57
DPS (Then Current Shares) 0.4 0.33 0.16 0.08 0.08 0.08 0.07 0.05 0.03 0.03 0.02
Return on Sales 13.8% 22.3% 22.0% 18.7% 11.6% 4.9% 31.2% 24.9% 23.1% 27.7% 24.7%
Return on Assets 10.1% 17.9% 15.6% 12.0% 7.0% 2.9% 22.0% 16.7% 19.3% 24.0% 21.7%
Return on Equity 13.5% 23.9% 19.5% 14.9% 8.8% 3.6% 28.2% 22.5% 26.0% 36.0% 30.6%
Return on Total Capital (at Book) 12.7% 22.6% 19.1% 14.5% 8.6% 3.5% 27.7% 21.8% 25.2% 35.2% 29.3%
Return on Total Capital (at Mkt) 229.3% 7.1% 4.9% 3.8% 1.5% 1.3% 5.2% 3.8% 2.3% 3.8% 4.7%
Return on Tangible Book 16% 28% 23% 19% 11% 5% 39% 31% 30% 41% 35%
Return on Equity (Current) 13% 25% 21% 17% 10% 4% 33% 26% 30% 41% 35%
Debt to Capital 6% 6% 2% 2% 3% 3% 2% 3% 3% 2% 4%
Sales Growth -12% 13% 13% 13% 1% -21% 15% 12% 5% 20% 29%
Earnings Growth -45% 15% 33% 81% 141% -88% 44% 21% -13% 35% 45%
Margin Growth -38% 2% 17% 61% 139% -84% 26% 8% -17% 12% 12%
Debt to Capital (at Mkt) 100% 2% 0% 1% 0% 1% 0% 0% 0% 0% 1%

 AverageStDevCurrent-Avg# of StDev
EPS (Current Shares) 1.06 0.45 -0.24 -0.53
Tangible Book per Share 4.43 1.02 0.81 0.79
Book Value per Share 4.95 1.31 1.13 0.86
DPS (Then Current Shares) 0.12 0.13 0.28 2.19
Return on Sales 20% 8% -0.07 -0.87
Return on Assets 15% 7% -0.05 -0.79
Return on Equity 21% 10% -0.07 -0.74
Return on Total Capital (at Book) 20% 9% -0.07 -0.77
Return on Tangible Book 25% 12% -0.09 -0.8
Return on Equity (Current) 23% 11% -0.1 -0.89
Debt to Capital 3% 1% 0.03 1.83

Date 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Share (Unit) Price 0.0 20.25 24.46 22.62 30.8 14.91 30.0 28.6 39.11 28.12 16.63
Dividend Yield 0.0% 1.63% 0.67% 0.36% 0.26% 0.54% 0.23% 0.19% 0.08% 0.1% 0.14%
Current P/E 0.0 13.83 20.35 26.01 64.97 77.26 19.14 26.08 42.74 26.37 21.17
Earnings Yield 0.0% 7.2% 4.9% 3.8% 1.5% 1.3% 5.2% 3.8% 2.3% 3.8% 4.7%
Price to Tangible Book 0.0 3.71 4.39 4.3 6.5 3.25 6.43 6.91 11.09 9.49 6.47
Price to Sales 0.0 3.09 4.47 4.87 7.57 3.76 5.98 6.49 9.87 7.3 5.24
P/(E10) 15.73
EY (E10) 6.36%
P/(E5) 0.0 22.25 25.06 23.37 31.36 13.36 23.96        
Yield 0.0% 4.5% 4.0% 4.3% 3.2% 7.5% 4.2%

 
 
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