Home > Asiatravel > Impending reversal in the making?

Impending reversal in the making?

Asiatravel has been whack down from the high of 84 cents to now 39 cents due to Thailand riot, Universal studio low visitor flow and Euro. It is now 30+% cheaper than competitor and 37 cents seems to be the support for this counter. However, there is a very strong downtrending line that I expect will resist the movement. Better to wait for it to break before entry.

With the given market movement, I think there’s a few more days to do some fundamental analysis.

Some ratios:

It’s number looks ok except for the sudden increase in liabilities and Cash Flow from financing. It might be due to the share repurchase program. For the liabilities it might be due to this.

It is currently selling at 3.3 times NAV and 14 times PE, which is not exactly that cheap for value investor but taking into account this might be due to the characteristic of the industry. Not the kind that make Buffet excited. But its selling at 30+% discount as compared to its competitor might still make me drool.

Reported on 10 Feb 2010

The economic indicators have improved pointing towards a recovery from the global recession, resulting in the moderation of decline in average hotel room rates in 1QFY2010 as compared to the rates in the last two quarters of FY2009.    However, the average room rates are still about 15% below those of 1Q FY2009.
With the drop in hotel room rates slowing down in the quarter, the Group expects the strengthening in the rates to continue into the next few quarters.    The likely better rates will provide a positive impact to the Group’s revenue in the second half of FY 2010.

.

2005 2006 2007 2008 2009 comments

.

current asset 5679 6484 6551 8181 10371 up. good

.

long term asset 5477 5867 7188 7762 8441 up. good

.

total asset 11156 12351 13739 15943 18812 up. good

.

current liability 3359 3491 2896 2819 5939 down. good

.

long term liability 47 167 244 427 324 up and irregular. bad

.

total liability 3406 3658 3140 3246 6263 up. bad

.

total equity 7750 8693 10599 12697 12381 up. good

.

.

sales 43305 56764 70156 77174 70912 up. good

.

net income -6284 3639 5142 6118 5698 up. good

.

.

eps (cents) -0.03 0.02 0.02 0.03 0.03 up. good

.

eps diluted -0.03 0.02 0.02 0.02 0.03 up. good

.

current ratio 1.69 1.86 2.26 2.90 1.75 up. good

.

debt equity ratio 0.44 0.42 0.30 0.26 0.51 down. good

.

npm -0.15 0.06 0.07 0.08 0.08 up. good

.

debt/earnings -0.54 1.01 0.61 0.53 1.10 down. good

.

.

CF o 1055 2741 6695 5682 4688 up but irregular
Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: