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Showing posts with label AMWAY. Show all posts
Showing posts with label AMWAY. Show all posts

Sunday, March 3, 2013

KLCI Stock - AMWAY / 6351 - 2012 Quarter 4

AMWAY (MALAYSIA) HOLDINGS BERHAD


Company Description
AMWAY (MALAYSIA) HOLDINGS BERHAD is an investment holding company. Through its, the Company is principally engaged in the distribution of consumer products under the Amway trademark. Amway offers a range of brands from nutritional supplements to water treatment, cosmetics to cleaning products. Amway's major brand is the NUTRILITE. NUTRILITE is a global vitamin and mineral brand, which grows, harvests and processes plants on their own certified organic farms. Under ARTISTRY, Amway supplies facial skin care products and color cosmetics. The Company's SATINIQUE products focus on hair care. Amway's other product brands include eSpring and iCook. The eSpring Water Purifier is an in-home system to combine ultraviolet light technology with a multi-stage carbon-block filter to provide drinking water. iCook offers a range of Cookware products. The Company also offers home care products.

Company Info
Listing Date 1996-08-30
Market Capital (Capital Size) 1,850,982,362 (Large)
Par Value RM 1.00
Board Main
Sector Trading/Services
Major Industry Direct Selling
Sub Industry Miscellaneous Products
Website http://www.amway.com

My Analysis
Forecast P/E now (11.26-0.625)/0.6672 = 15.94 (Moderate)
Target Price 11.48+0.625 = 12.10 (PE 17.2, EPS 0.6672, DPS 0.625)
First Support Price 11.0
Second Support Price 10.6
Risk Rating MODERATE

Research House
OSK Target Price 11.45 (2012-08-09)
Kenanga Target Price 11.68 (2013-02-21)
TA Target Price 12.15 (2013-02-21)
RHB Target Price 11.77 (2013-02-22)

Accounting Ratio
Return on Equity 51.84%
Dividend Yield 5.55%
Gross Profit Margin 30.14%
Operating Profit Margin 18.62%
Net Profit Margin 18.62%
Tax Rate 31.52%
Asset Turnover 2.3836
Net Asset Value Per Share 1.39
Net Tangible Asset per share 1.36
Price/Net Tangible Asset Per Share 8.13
Cash Per Share 0.91
Liquidity Current Ratio 2.3326
Liquidity Quick Ratio 1.6944
Liquidity Cash Ratio 1.3965
Gearing Debt to Equity Ratio 0.4677
Gearing Debt to Asset Ratio 0.3187
Working capital per thousand Ringgit sale 17.8%
Days to sell the inventory 45
Days to collect the receivables 15
Days to pay the payables 66

Technical Analysis
SMA 10 11.176 (Uptrend)
SMA 20 11.149 (Uptrend 2 days)
SMA 50 11.258 (Uptrend)
SMA 100 11.416 (Uptrend)
SMA 200 10.65 (Uptrend)
MACD (26d/12d) -0.003908 ( 0.006861 )
Signal (9) -0.024857 ( 0.005237 )
MACD Histogram 0.020949 (Bullish trend 7 days)
Bolinger Upper Band 11.388
Bolinger Lower Band 10.91

My notes based on 2012 quarter 4 report (number in '000):-
- Higher revenue than FY11Q4 mainly attributable to the success of sales and marketing programs

- Higher pbt mainly due to the increase in sales revenue coupled with prudent cost management

- Estimate next 4Q eps after 2012 Q4 result announced = 99708*1.1/164386 = 0.6672, estimate PE on current price 11.26 = 15.94(DPS 0.625)
- Estimate next 4Q eps after 2012 Q3 result announced = 98412*1.1/164386 = 0.6585, estimate highest/lowest PE = 17.16/15.19 (DPS 0.7)
- Estimate next 4Q eps after 2012 Q2 result announced = 97553*1.15/164386 = 0.6825, estimate highest/lowest PE = 17.58/14.62 (DPS 0.7)
- Estimate next 4Q eps after 2012 Q1 result announced = 91247*1.1/164386 = 0.6106, estimate highest/lowest PE = 16.87/14.58 (DPS 0.7)
- Estimate next 4Q eps after 2011 Q4 result announced = 192322*0.46/164386 = 0.5382, estimate highest/lowest PE = 17.35/16.09 (DPS 0.66)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.5072*1.05 = 0.5326, estimate highest/lowest PE = 17.57/15.64 (DPS 0.62)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.4988*0.95 = 0.4739, estimate highest/lowest PE = 18.23/16.33 (DPS 0.62)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.5142*0.97 = 0.4988, estimate highest/lowest PE = 18.4/16.32 (DPS 0.66)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.4761*1.08 = 0.5142, estimate highest/lowest PE = 17.64/14.86 (DPS 0.66)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.3335+(0.1246*1.2) = 0.5497, estimate highest/lowest PE = 15.21/13.46 (DPS 0.64)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.3335+(0.1246*1.2) = 0.5497, estimate highest/lowest PE = 14.04/13.43 (DPS 0.52)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.3261+(0.099*1.1) = 0.4676(Correction to preceding Q estimated), estimate highest/lowest PE = 16.3/14.71 (DPS 0.5)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0996*4 = 0.3984, estimate highest/lowest PE = 17.62/16.99 (DPS 0.48)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.1246*4 = 0.4984, estimate highest/lowest PE = 13.98/13.46 (DPS 0.48)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.099*4 = 0.396, estimate highest/lowest PE = 17.6/16.92 (DPS 0.5)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.118*4 = 0.472, estimate highest/lowest PE = 14.79/13.73 (DPS 0.52)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.1332*4 = 0.5328, estimate highest/lowest PE = 13.06/11.75 (DPS 0.54)

AMWAY latest news (English)

AMWAY latest news (Chinese)

USD/MYR foreign exchange chart


Financial Quarter Summary Open in New Window
a_date year qrt h_price l_price div roe c_roe rev c_rev pbt c_pbt prof c_prof eps c_eps asset c_asset liab c_liab mino equi cfo cfi cff cash fcf net final share c_share m_cap date gros_m oper_m prof_m vat asset_t pe navps ntaps p/ntaps cps l_cur l_qui l_cash g_de g_da avg_w inv_d rec_d pay_d
2013-02-20 2012 4 N/A N/A 0.325 13.62% 51.84% 205429 797523 38250 137066 26195 99708 0.1594 0.6065 334588 248629 106617 106591 - 227971 90905 623 65945 123272 91528 25583 148855 164386 164386 1818109 2012-12-31 30.14% 18.62% 18.62% 31.52% 2.3836 18.2343 1.39 1.36 8.13 0.91 2.3326 1.6944 1.3965 0.4677 0.3187 17.8% 45 15 66
2012-11-14 2012 3 12.0 10.7 0.1 13.85% 38.22% 224159 592094 35637 98816 26632 73513 0.1620 0.4472 329604 241756 111433 111433 - 218171 96497 1945 60204 123209 98442 38238 161447 164386 164386 1962768 2012-09-30 30.85% 15.90% 15.90% 25.27% 2.3497 - 1.33 1.3 9.18 0.98 2.1695 1.6546 1.4488 0.5108 0.3381 16.8% 40 11 70
2012-08-27 2012 2 12.7 10.68 0.1 13.17% 24.38% 188684 367935 34160 63179 25320 46881 0.1540 0.2852 326219 235640 118252 118252 - 207967 75086 1389 41756 123231 76475 34719 157950 164386 164386 1791807 2012-06-30 33.52% 18.10% 18.10% 25.88% 2.3353 - 1.27 1.24 8.79 0.96 1.9927 1.4296 1.3357 0.5686 0.3625 15.4% 48 5 75
2012-05-30 2012 1 11.0 9.6 0.1 11.21% 11.21% 179251 179251 29019 29019 21561 21561 0.1312 0.1312 310237 221162 111118 111118 - 199119 24116 572 4532 123231 24688 20156 143387 164386 164386 1594544 2012-03-31 31.93% 16.19% 16.19% 25.70% 2.3927 - 1.21 1.18 8.22 0.87 1.9903 1.4088 1.2904 0.558 0.3582 14.8% 47 6 75
2012-02-15 2011 4 10.0 9.32 0.09 11.81% 42.67% 182375 735818 33552 120986 24899 89959 0.1515 0.5472 305960 214018 113638 113638 - 192322 93049 2436 108967 136683 95485 13482 123201 164386 164386 1610982 2011-12-31 33.61% 18.40% 18.40% 25.79% 2.4049 17.908 1.17 1.14 8.6 0.75 1.8833 1.2806 1.0842 0.5909 0.3714 13.6% 51 11 78
2011-11-16 2011 3 9.98 8.95 0.39 12.22% 30.86% 211518 553443 34421 87434 25773 65060 0.1568 0.3958 347400 248276 115901 115901 - 231499 86768 1750 40225 136810 88518 48293 185103 164386 164386 1486049 2011-09-30 34.76% 16.27% 16.27% 25.12% 2.123 - 1.41 1.38 6.55 1.13 2.1421 1.7039 1.5971 0.5007 0.3336 17.9% 37 6 79
2011-08-10 2011 2 9.26 8.36 0.09 9.02% 18.63% 169162 341925 25645 53013 19014 39287 0.1157 0.2390 345558 243124 125040 125040 - 220518 55751 471 19591 136810 56222 36631 173441 164386 164386 1479474 2011-06-30 30.14% 15.16% 15.16% 25.86% 2.0764 - 1.34 1.31 6.87 1.06 1.9444 1.4859 1.3871 0.567 0.3618 16.5% 43 6 87
2011-05-11 2011 1 9.84 8.8 0.09 9.62% 9.62% 172763 172763 27368 27368 20273 20273 0.1233 0.1233 331854 230657 115538 115538 - 216316 37111 102 3938 136814 37009 33071 169885 164386 164386 1599475 2011-03-31 32.31% 15.84% 15.84% 25.92% 2.1596 - 1.32 1.29 7.54 1.03 1.9964 1.5631 1.4704 0.5341 0.3482 16.1% 37 5 83
2011-02-16 2010 4 9.73 8.3 0.09 7.70% 32.93% 184104 719409 28015 109149 18308 78272 0.1114 0.4761 321282 219914 110455 110455 - 210827 94170 1292 114476 158394 92878 21598 136796 164386 164386 1364403 2010-12-31 33.03% 15.22% 15.22% 34.65% 2.2392 17.4316 1.28 1.25 6.64 0.83 1.991 1.4718 1.2385 0.5239 0.3438 15.2% 42 13 79
2010-11-15 2010 3 9.0 8.04 0.39 9.05% 25.23% 191500 535305 28801 81134 21506 59964 0.1308 0.3648 393987 282997 137365 137365 - 256622 109420 9006 41096 156961 100414 59318 216279 164386 164386 1354540 2010-09-30 30.51% 15.04% 15.04% 25.33% 1.795 - 1.56 1.53 5.39 1.32 2.0602 1.6529 1.5745 0.5353 0.3487 20.6% 41 6 94
2010-08-05 2010 2 8.24 7.9 0.09 9.14% 16.18% 168316 343805 29973 52333 21721 38458 0.1321 0.2339 373433 267759 123523 123523 - 249910 61578 4608 26302 157898 56970 30668 188566 164386 164386 1315088 2010-06-30 31.14% 17.81% 17.81% 27.53% 1.8493 - 1.52 1.49 5.37 1.15 2.1677 1.6178 1.5266 0.4943 0.3308 20.9% 50 6 86
2010-05-19 2010 1 8.12 7.38 0.09 7.04% 7.04% 175489 175489 22360 22360 16737 16737 0.1018 0.1018 368556 267746 125495 125495 - 243061 33693 47 11507 158361 33646 22139 180500 164386 164386 1224675 2010-03-31 27.87% 12.74% 12.74% 25.15% 1.833 - 1.48 1.45 5.14 1.1 2.1335 1.5504 1.4383 0.5163 0.3405 21.1% 55 8 92
2010-02-24 2009 4 7.5 7.27 0.07 6.98% 30.91% 171898 663902 22333 98874 16380 72543 0.0996 0.4413 335151 234362 97435 97435 - 237716 45539 27144 82036 221998 18395 63641 158357 164386 164386 1209880 2009-12-31 27.97% 12.99% 12.99% 26.66% 1.9809 16.6781 1.45 1.42 5.18 0.96 2.4053 1.7255 1.6253 0.4099 0.2907 20.6% 51 5 73
2009-11-17 2009 3 7.45 7.19 0.27 8.73% 23.93% 174874 492004 28346 76541 20485 56163 0.1246 0.3417 396801 292577 131013 131013 - 265788 68230 37870 38963 221070 30360 8603 212467 164386 164386 1206593 2009-09-30 28.65% 16.21% 16.21% 27.73% 1.673 - 1.62 1.59 4.62 1.29 2.2332 1.6927 1.6217 0.4929 0.3302 24.3% 55 5 96
2009-08-19 2009 2 7.47 7.2 0.07 6.93% 15.20% 153313 317130 22202 48195 16276 35678 0.0990 0.2170 390544 308278 133729 133729 - 256815 54468 20173 23014 220493 34295 11281 231774 164386 164386 1200017 2009-06-30 30.11% 14.48% 14.48% 26.69% 1.7274 - 1.56 1.53 4.77 1.41 2.3052 1.7982 1.7332 0.5207 0.3424 25.9% 52 5 100
2009-05-13 2009 1 7.5 7.0 0.07 8.27% 8.27% 163817 163817 25993 25993 19402 19402 0.1180 0.1180 378633 302165 136047 136047 - 242586 41742 11749 15064 220790 29993 14929 235719 164386 164386 1216456 2009-03-31 29.33% 15.87% 15.87% 25.36% 1.7549 - 1.48 1.45 5.1 1.43 2.221 1.7949 1.7326 0.5608 0.3593 25.0% 46 5 101
2009-02-23 2008 4 7.5 6.8 0.07 9.69% 42.09% 171847 645458 30291 129249 21889 95095 0.1332 0.5785 353716 292411 118991 113577 - 234725 95912 17379 59538 203246 78533 18995 222241 164386 164386 1167140 2008-12-31 28.58% 17.63% 17.63% 27.74% 1.8248 12.2734 1.43 1.4 5.07 1.35 2.5746 2.0921 1.9567 0.5069 0.3364 27.7% 45 6 88
2008-11-10 2008 3 7.3 6.6 0.2146 13.49% 32.40% 185659 473611 41276 98958 30477 73206 0.1854 0.4453 382227 327523 115877 115877 - 266350 105947 7474 27507 201706 98473 70966 272672 164386 164386 1084947 2008-09-30 32.01% 22.23% 22.23% 26.16% 1.6399 - 1.62 1.59 4.15 1.66 2.8265 2.3924 2.3531 0.4351 0.3032 33.8% 43 3 90
2008-07-30 2008 2 6.9 6.1 0.0666 9.63% 18.91% 143155 287952 29376 57682 21762 42729 0.1324 0.2599 349455 304533 102634 102634 - 246821 66152 1372 22274 201706 64780 42506 244212 164386 164386 1134263 2008-06-30 31.31% 20.52% 20.52% 25.92% 1.7314 - 1.5 1.47 4.69 1.49 2.9672 2.4631 2.3794 0.4158 0.2937 33.4% 46 5 80
2008-05-21 2008 1 7.0 6.6 0.0666 9.28% 9.28% 144797 144797 28306 28306 20967 20967 0.1275 0.1275 342216 298072 106209 106209 - 236007 46858 661 5761 201706 46197 40436 242142 164386 164386 1142482 2008-03-31 31.52% 19.55% 19.55% 25.93% 1.7145 - 1.44 1.41 4.93 1.47 2.8065 2.375 2.2799 0.45 0.3104 32.7% 42 6 86
2008-02-25 2007 4 7.3 6.3 0.0666 13.76% 44.79% 153187 584251 36581 120312 27004 87912 0.1643 0.5348 307809 267766 81895 81895 - 225914 76689 19520 61664 167078 96209 34545 201623 164386 164386 1101386 2007-12-31 30.90% 23.88% 23.88% 26.18% 1.8981 12.5283 1.37 1.35 4.96 1.23 3.2696 2.6958 2.462 0.3625 0.2661 31.8% 43 12 66
2007-11-19 2007 3 6.8 6.2 0.23725 13.41% 31.03% 163894 431064 35642 83731 26315 60908 0.1601 0.3705 331612 285936 93688 93688 - 237924 74928 5158 30279 167107 80086 49807 216914 164386 164386 1076728 2007-09-30 32.14% 21.75% 21.75% 26.17% 1.2999 - 1.45 1.42 4.61 1.32 3.052 2.4744 2.3153 0.3938 0.2825 44.6% 67 12 105
2007-08-20 2007 2 6.7 6.5 0.05475 9.01% 17.62% 124852 267170 24504 48089 17689 34593 0.1076 0.2104 306003 258547 85394 85394 - 220609 48421 3261 21672 167107 51682 30010 197117 164386 164386 1126044 2007-06-30 32.22% 19.63% 19.63% 27.81% 0.8731 - 1.34 1.31 5.23 1.2 3.0277 2.4145 2.3083 0.3871 0.2791 64.8% - 12 N/A
2007-05-03 2007 1 N/A N/A 0.05475 8.61% 8.61% 142318 142318 23585 23585 16904 16904 0.1028 0.1028 291922 246029 80003 80003 - 211919 30508 1619 10217 167107 32127 21910 189017 164386 164386 1101386 2007-03-31 29.62% 16.57% 16.57% 28.33% 0.97 - 1.29 1.26 5.32 1.15 3.0752 2.4397 2.3626 0.3775 0.2741 58.6% 92 8 137
2007-02-12 2006 5 N/A N/A 0.05475 N/A N/A 140849 723660 22828 111818 16597 80565 0.1010 0.4901 249305 223268 64521 64521 - 184784 61651 19698 78989 164747 81349 2360 167107 164386 164386 1076728 2006-12-31 28.07% 14.99% 16.21% 27.30% 2.2255 - 1.12 1.09 6.01 1.02 3.4604 2.7544 2.59 0.3492 0.2588 28.6% 41 7 56
2006-11-20 2006 4 N/A N/A 0.054 N/A N/A 144635 582811 24603 88990 17696 63968 0.1076 0.3891 281085 233904 84788 84788 - 196297 56797 17994 64720 164710 74791 10071 174781 164386 164386 1068509 2006-09-30 28.38% 15.87% 17.01% 28.07% 2.0734 16.7038 1.19 1.17 5.56 1.06 2.7587 2.2299 2.0626 0.4319 0.3016 25.6% 38 9 69
2006-08-03 2006 3 N/A N/A 0.198 N/A N/A 138199 438176 20080 64387 14426 46272 0.0878 0.2815 292275 232288 76523 76523 - 215752 35218 4359 29170 164710 39577 10407 175117 164386 164386 1052070 2006-06-30 26.85% 13.59% 14.53% 28.16% 1.4992 - 1.31 1.28 5.0 1.07 3.0355 2.4619 2.2897 0.3547 0.2618 35.5% 50 11 84
2006-04-26 2006 2 N/A N/A 0.054 N/A N/A 131156 299977 20010 44307 14311 31846 0.0871 0.1937 280915 230566 70713 70713 - 210202 905 12324 26438 164710 11419 15019 149691 164386 164386 1035631 2006-03-31 26.57% 14.29% 15.26% 28.48% 1.0679 - 1.28 1.25 5.04 0.91 3.2606 2.5647 2.1183 0.3364 0.2517 53.3% - 38 N/A
2006-01-20 2006 1 N/A N/A 0.072 N/A N/A 168821 168821 24297 24297 17535 17535 0.1067 0.1067 267665 218804 59968 59968 - 207697 16455 11108 8877 164680 5347 14224 150456 164386 164386 1076728 2005-12-31 26.19% 13.33% 14.39% 27.83% 0.6307 - 1.26 1.23 5.33 0.92 3.6487 2.8708 2.5106 0.2887 0.224 94.1% - 47 N/A

Financial Quarter Balance Sheet Open in New Window
year qrt Deferred tax assets (A-0) Intangible assets (A-0) Property, plant and equipment (A-0) Amount due from associated companies (A-1) Cash and cash equivalents (A-1) Current tax assets (A-1) Inventories (A-1) Prepaid lease payments (A-1) Trade receivables (A-1) Deferred tax liabilities (L-0) Amount due to associated companies (L-1) Current tax liabilities (L-1) Derivative financial liabilities (L-1) Trade and other payables (L-1)
2012 4 3972 4782 77205 - 148855 - 68019 - 31755 26 - 8345 - 98246
2012 3 6693 4782 76373 - 161447 - 57384 - 22925 - - 10720 - 100713
2012 2 8178 4782 77619 - 157950 - 66592 - 11098 - - 14468 - 103784
2012 1 4884 4782 79409 - 143387 - 64622 - 13153 - - 8149 - 102969
2011 4 6025 4782 81135 - 123201 - 68495 - 22322 - - 8283 - 105355
2011 3 7978 4782 86364 - 185103 - 50792 - 12381 - - 8315 - 107586
2011 2 9318 4782 88334 - 173441 - 57325 - 12358 - - 7779 - 117261
2011 1 6608 4782 89807 - 169885 - 50063 - 10709 - - 4069 15 111454
2010 4 5586 4782 91000 - 136796 - 57344 - 25774 - - 3089 - 107366
2010 3 11548 4782 94660 - 216279 - 55941 - 10777 - - 8602 528 128235
2010 2 10406 4782 90486 - 188566 - 67929 - 11264 - - 7366 403 115754
2010 1 9720 4782 86308 - 180500 - 73182 - 14064 - - 3742 1769 119984
2009 4 9207 4782 86800 - 158357 - 66238 - 9767 - - 3423 - 94012
2009 3 11794 4782 87648 - 212467 - 70811 - 9299 - - 6870 - 124143
2009 2 8287 4782 69197 - 231774 - 67810 - 8694 - - 4883 - 128846
2009 1 11490 4782 60196 - 235719 - 57973 - 8473 - - 8477 - 127570
2008 4 9037 4782 47486 - 222241 5414 54795 - 9961 5414 - 6458 - 107119
2008 3 11375 4782 38547 - 272672 - 50297 - 4554 - - 9497 - 106380
2008 2 12265 4782 27875 - 244212 - 51738 - 8583 - - 11330 - 91304
2008 1 13795 4782 25567 - 242142 - 45830 - 10100 - - 11512 - 94697
2007 4 11757 4782 23504 - 201623 - 46997 - 19146 - - 9076 - 72819
2007 3 11990 4782 28904 - 216914 - 54111 323 14588 - - 8666 - 85022
2007 2 13208 4782 29466 - 197117 - 52359 323 8748 - - 7081 - 78313
2007 1 11116 4782 29995 - 189017 - 50848 323 5841 - - 4310 - 75693
2006 5 9523 4782 11732 - 167107 - 45551 - 10610 - - 2437 - 62084
2006 4 11070 4782 31329 1579 174881 - 44838 - 12606 - 4360 4699 - 75729
2006 3 11147 4782 44058 1634 175218 - 43899 - 11537 - 2814 2771 - 70938
2006 2 9665 4782 35902 10829 149792 - 49208 - 20737 - 5865 840 - 64008
2006 1 7290 4782 36789 12044 150558 - 46648 - 9554 - 1406 1119 - 57443

Financial Quarter Income Statement Open in New Window
year qrt Revenue Income tax expense Cost of sales Other income Administrative/Operating expenses Finance/interest income Selling and distribution costs
2012 4 205429 12055 143511 1614 13908 - 11374
2012 3 224159 9005 155017 1338 25714 - 9129
2012 2 188684 8840 125444 1097 21078 - 9099
2012 1 179251 7458 122017 1042 21147 - 8110
2011 4 182375 8653 121071 1455 19349 - 9858
2011 3 211518 8648 137986 1327 31779 - 8659
2011 2 169162 6631 118171 928 17134 - 9140
2011 1 172763 7095 116951 1105 21383 - 8166
2010 4 184104 9707 123293 1423 25249 - 8970
2010 3 191500 7295 133068 119 20998 - 8752
2010 2 168316 8252 115899 623 15669 - 7398
2010 1 175489 5623 126574 1304 18099 - 7152
2009 4 171898 5953 123817 759 18427 - 8080
2009 3 174874 7861 124774 1040 16105 - 6689
2009 2 153313 5926 107143 91 17649 - 6410
2009 1 163817 6591 115770 846 16323 - 6577
2008 4 171847 8402 122737 3117 14057 - 7879
2008 3 185659 10799 126221 4497 16547 - 6112
2008 2 143155 7614 98340 1866 12794 - 4511
2008 1 144797 7339 99164 1161 13671 - 4817
2007 4 153187 9577 105846 8776 15197 - 4339
2007 3 163894 9327 111211 2149 14137 - 5053
2007 2 124852 6815 84624 1842 13224 - 4342
2007 1 142318 6681 100158 1004 14461 - 5118
2006 5 140849 6231 101319 1034 12225 1717 5160
2006 4 144635 6907 103583 184 13338 1655 4950
2006 3 138199 5654 101096 169 13381 1299 4772
2006 2 131156 5699 96302 644 10819 1264 4645
2006 1 168821 6762 124607 385 15930 1798 6170
Short form reference
a_date = announcement date, yr = financial year end, qrt = quarter
h_price = stock highest price during the quarter, l_price = stock lowest price during the quarter
div = dividend recommend or declare in the quarter, roe = return on equity
c_roe = cumulative of return on equity during the financial year
rev = revenue in the current quarter, c_rev = cumulative of revenue during the financial year
pbt = profit before tax in the current quarter, c_pbt = cumulative of profit before tax during the financial year
eps = earnings per share in the current quarter, c_eps = cumulative of earnings per share during the financial year
asset = total asset, liab = total liability, mino = minority interest, equi = total equity
cfo = net cash flow from operating activities, cfi = net cash flow from investing activities
cff = net cash flow from financing activities, cash = cash and cash equivalents as at beginning of financial year
final = cash and cash equivalents as at current financial period ended
share = diluted/basic weighted average number of ordinary shares
c_share = cumulative of diluted/basic weighted average number of ordinary shares during the financial year
m_cap = market capital at announcement date of quarterly report, date = current financial period ended date
prof_m = profit margin, vat = income tax rate, pe = price earning per share ratio of recent four quarter
navps = net asset value per share, ntaps = net tangible asset per share, cps = cash per share
l_cur = liquidity current ratio, l_qui = liquidity quick ratio, l_cash = liquidity cash ratio
g_de = gearing debt to equity ratio, g_da = gearing debt to assets ratio
avg_w = average working capital per thousand Ringgit sale
inv_d = average days to sell the inventory, rec_d = Average days to collect the receivables


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Wednesday, November 14, 2012

KLCI Stock - AMWAY / 6351 - 2012 Quarter 3

AMWAY (MALAYSIA) HOLDINGS BERHAD


Company Description
AMWAY (MALAYSIA) HOLDINGS BERHAD is an investment holding company. Through its, the Company is principally engaged in the distribution of consumer products under the Amway trademark. Amway offers a range of brands from nutritional supplements to water treatment, cosmetics to cleaning products. Amway's major brand is the NUTRILITE. NUTRILITE is a global vitamin and mineral brand, which grows, harvests and processes plants on their own certified organic farms. Under ARTISTRY, Amway supplies facial skin care products and color cosmetics. The Company's SATINIQUE products focus on hair care. Amway's other product brands include eSpring and iCook. The eSpring Water Purifier is an in-home system to combine ultraviolet light technology with a multi-stage carbon-block filter to provide drinking water. iCook offers a range of Cookware products. The Company also offers home care products.

Company Info 
Listing Date1996-08-30
Market Capital (Capital Size)1,962,764,601 (Large)
Par ValueRM 1.00
BoardMain
SectorTrading/Services
Major IndustryDirect Selling
Sub IndustryMiscellaneous Products
Websitehttp://www.amway.com

My Analysis 
Forecast P/E now(11.94-0.7)/0.6585 = 17.07 (Moderate)
Target Price11.85+0.7 = 12.55 (PE 18.0, EPS 0.6585, DPS 0.7)
DecisionBUY for dividend keep unless stock price slump
Comment
Revenue increased 18.8% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 6%, eps increased 5.2% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 3.3%, cash generated from operating mre than enough to cover all expenses, gross margin still maintain very high above 30%, liquidity ratio indicate good position to meet current obligation and dividend, gearing ratio not much increase which also limit the expand, all accounting turnover period is good
First Support Price11.9
Second Support Price10.7
Risk RatingMODERATE

Research House
OSK Target Price11.45 (2012-08-09)
Kenanga Target Price11.68 (2012-08-29)
RHB Target Price11.05 (2012-08-29)
TA Target Price12.11 (2012-08-29)

Accounting Ratio 
Return on Equity50.03%
Dividend Yield5.86%
Gross Profit Margin30.85%
Operating Profit Margin15.90%
Net Profit Margin15.90%
Tax Rate25.27%
Asset Turnover2.3497
Net Asset Value Per Share1.33
Net Tangible Asset per share1.3
Price/Net Tangible Asset Per Share9.18
Cash Per Share0.98
Liquidity Current Ratio2.1695
Liquidity Quick Ratio1.6546
Liquidity Cash Ratio1.4488
Gearing Debt to Equity Ratio0.5108
Gearing Debt to Asset Ratio0.3381
Working capital per thousand Ringgit sale16.8%
Days to sell the inventory40
Days to collect the receivables11
Days to pay the payables70

Technical Analysis 
SMA 1012.048 (Downtrend)
SMA 2012.207 (Downtrend 3 days)
SMA 5011.535 (Uptrend)
SMA 10010.752 (Uptrend)
SMA 20010.13 (Uptrend)
MACD (26d/12d)0.10444 ( 0.019934 )
Signal (9)0.194046 ( 0.022402 )
MACD Histogram0.089606 (Bearish trend 11 days)
Bolinger Upper Band13.304
Bolinger Lower Band11.11

My notes based on 2012 quarter 3 report (number in '000):-
- Higher revenue and pbt mainly attributable to the success of sales and marketing programs

- Estimate next 4Q eps after 2012 Q3 result announced = 98412*1.1/164386 = 0.6585, estimate PE on current price 11.94 = 17.07(DPS 0.7)
- Estimate next 4Q eps after 2012 Q2 result announced = 97553*1.15/164386 = 0.6825, estimate highest/lowest PE = 17.58/14.62 (DPS 0.7)
- Estimate next 4Q eps after 2012 Q1 result announced = 91247*1.1/164386 = 0.6106, estimate highest/lowest PE = 16.87/14.58 (DPS 0.7)
- Estimate next 4Q eps after 2011 Q4 result announced = 192322*0.46/164386 = 0.5382, estimate highest/lowest PE = 17.35/16.09 (DPS 0.66)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.5072*1.05 = 0.5326, estimate highest/lowest PE = 17.57/15.64 (DPS 0.62)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.4988*0.95 = 0.4739, estimate highest/lowest PE = 18.23/16.33 (DPS 0.62)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.5142*0.97 = 0.4988, estimate highest/lowest PE = 18.4/16.32 (DPS 0.66)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.4761*1.08 = 0.5142, estimate highest/lowest PE = 17.64/14.86 (DPS 0.66)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.3335+(0.1246*1.2) = 0.5497, estimate highest/lowest PE = 15.21/13.46 (DPS 0.64)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.3335+(0.1246*1.2) = 0.5497, estimate highest/lowest PE = 14.04/13.43 (DPS 0.52)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.3261+(0.099*1.1) = 0.4676(Correction to preceding Q estimated), estimate highest/lowest PE = 16.3/14.71 (DPS 0.5)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0996*4 = 0.3984, estimate highest/lowest PE = 17.62/16.99 (DPS 0.48)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.1246*4 = 0.4984, estimate highest/lowest PE = 13.98/13.46 (DPS 0.48)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.099*4 = 0.396, estimate highest/lowest PE = 17.6/16.92 (DPS 0.5)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.118*4 = 0.472, estimate highest/lowest PE = 14.79/13.73 (DPS 0.52)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.1332*4 = 0.5328, estimate highest/lowest PE = 13.06/11.75 (DPS 0.54)

AMWAY latest news (English)

AMWAY latest news (Chinese)

USD/MYR foreign exchange chart

Financial Quarter Summary
a_dateyearqrth_pricel_pricedivroec_roerevc_revpbtc_pbtprofc_profepsc_epsassetc_assetliabc_liabminoequicfocficffcashfcfnetfinalsharec_sharem_capdategros_moper_mprof_mvatasset_tpenavpsntapsp/ntapscpsl_curl_quil_cashg_deg_daavg_winv_drec_dpay_d
2012-11-1420123N/AN/A0.113.85%38.22%224159592094356379881626632735130.16200.4472329604241756111433111433-21817196497194560204123209984423823816144716438616438619627682012-09-3030.85%15.90%15.90%25.27%2.3497-1.331.39.180.982.16951.65461.44880.51080.338116.8%401170
2012-08-272012212.710.680.113.17%24.38%188684367935341606317925320468810.15400.2852326219235640118252118252-20796775086138941756123231764753471915795016438616438617918072012-06-3033.52%18.10%18.10%25.88%2.3353-1.271.248.790.961.99271.42961.33570.56860.362515.4%48575
2012-05-302012111.09.60.111.21%11.21%179251179251290192901921561215610.13120.1312310237221162111118111118-199119241165724532123231246882015614338716438616438615945442012-03-3131.93%16.19%16.19%25.70%2.3927-1.211.188.220.871.99031.40881.29040.5580.358214.8%47675
2012-02-152011410.09.320.0911.81%42.67%1823757358183355212098624899899590.15150.5472305960214018113638113638-192322930492436108967136683954851348212320116438616438616109822011-12-3133.61%18.40%18.40%25.79%2.404917.9081.171.148.60.751.88331.28061.08420.59090.371413.6%511178
2011-11-16201139.988.950.3912.22%30.86%211518553443344218743425773650600.15680.3958347400248276115901115901-23149986768175040225136810885184829318510316438616438614860492011-09-3034.76%16.27%16.27%25.12%2.123-1.411.386.551.132.14211.70391.59710.50070.333617.9%37679
2011-08-10201129.268.360.099.02%18.63%169162341925256455301319014392870.11570.2390345558243124125040125040-2205185575147119591136810562223663117344116438616438614794742011-06-3030.14%15.16%15.16%25.86%2.0764-1.341.316.871.061.94441.48591.38710.5670.361816.5%43687
2011-05-11201119.848.80.099.62%9.62%172763172763273682736820273202730.12330.1233331854230657115538115538-216316371111023938136814370093307116988516438616438615994752011-03-3132.31%15.84%15.84%25.92%2.1596-1.321.297.541.031.99641.56311.47040.53410.348216.1%37583
2011-02-16201049.738.30.097.70%32.93%1841047194092801510914918308782720.11140.4761321282219914110455110455-210827941701292114476158394928782159813679616438616438613644032010-12-3133.03%15.22%15.22%34.65%2.239217.43161.281.256.640.831.9911.47181.23850.52390.343815.2%421379
2010-11-15201039.08.040.399.05%25.23%191500535305288018113421506599640.13080.3648393987282997137365137365-2566221094209006410961569611004145931821627916438616438613545402010-09-3030.51%15.04%15.04%25.33%1.795-1.561.535.391.322.06021.65291.57450.53530.348720.6%41694
2010-08-05201028.247.90.099.14%16.18%168316343805299735233321721384580.13210.2339373433267759123523123523-24991061578460826302157898569703066818856616438616438613150882010-06-3031.14%17.81%17.81%27.53%1.8493-1.521.495.371.152.16771.61781.52660.49430.330820.9%50686
2010-05-19201018.127.380.097.04%7.04%175489175489223602236016737167370.10180.1018368556267746125495125495-243061336934711507158361336462213918050016438616438612246752010-03-3127.87%12.74%12.74%25.15%1.833-1.481.455.141.12.13351.55041.43830.51630.340521.1%55892
2010-02-24200947.57.270.076.98%30.91%171898663902223339887416380725430.09960.44133351512343629743597435-237716455392714482036221998183956364115835716438616438612098802009-12-3127.97%12.99%12.99%26.66%1.980916.67811.451.425.180.962.40531.72551.62530.40990.290720.6%51573
2009-11-17200937.457.190.278.73%23.93%174874492004283467654120485561630.12460.3417396801292577131013131013-26578868230378703896322107030360860321246716438616438612065932009-09-3028.65%16.21%16.21%27.73%1.673-1.621.594.621.292.23321.69271.62170.49290.330224.3%55596
2009-08-19200927.477.20.076.93%15.20%153313317130222024819516276356780.09900.2170390544308278133729133729-256815544682017323014220493342951128123177416438616438612000172009-06-3030.11%14.48%14.48%26.69%1.7274-1.561.534.771.412.30521.79821.73320.52070.342425.9%525100
2009-05-13200917.57.00.078.27%8.27%163817163817259932599319402194020.11800.1180378633302165136047136047-242586417421174915064220790299931492923571916438616438612164562009-03-3129.33%15.87%15.87%25.36%1.7549-1.481.455.11.432.2211.79491.73260.56080.359325.0%465101
2009-02-23200847.56.80.079.69%42.09%1718476454583029112924921889950950.13320.5785353716292411118991113577-234725959121737959538203246785331899522224116438616438611671402008-12-3128.58%17.63%17.63%27.74%1.824812.27341.431.45.071.352.57462.09211.95670.50690.336427.7%45688
2008-11-10200837.36.60.2913.49%32.40%185659473611412769895830477732060.18540.4453382227327523115877115877-266350105947747427507201706984737096627267216438616438610849472008-09-3032.01%22.23%22.23%26.16%1.6399-1.621.594.151.662.82652.39242.35310.43510.303233.8%43390
2008-07-30200826.96.10.099.63%18.91%143155287952293765768221762427290.13240.2599349455304533102634102634-24682166152137222274201706647804250624421216438616438611342632008-06-3031.31%20.52%20.52%25.92%1.7314-1.51.474.691.492.96722.46312.37940.41580.293733.4%46580
2008-05-21200817.06.60.099.28%9.28%144797144797283062830620967209670.12750.1275342216298072106209106209-236007468586615761201706461974043624214216438616438611424822008-03-3131.52%19.55%19.55%25.93%1.7145-1.441.414.931.472.80652.3752.27990.450.310432.7%42686
2008-02-25200747.36.30.0913.76%44.79%1531875842513658112031227004879120.16430.53483078092677668189581895-225914766891952061664167078962093454520162316438616438611013862007-12-3130.90%23.88%23.88%26.18%1.898112.52831.371.354.961.233.26962.69582.4620.36250.266131.8%431266
2007-11-19200736.86.20.32513.41%31.03%163894431064356428373126315609080.16010.37053316122859369368893688-23792474928515830279167107800864980721691416438616438610767282007-09-3032.14%21.75%21.75%26.17%1.7361-1.451.424.611.323.0522.47442.31530.39380.282533.4%49978
2007-08-20200726.76.50.0759.01%17.62%124852267170245044808917689345930.10760.21043060032585478539485394-22060948421326121672167107516823001019711716438616438611260442007-06-3032.22%19.63%19.63%27.81%1.7974-1.341.315.231.23.02772.41452.30830.38710.279131.5%49673
2007-05-0320071N/AN/A0.0758.61%8.61%142318142318235852358516904169040.10280.10282919222460298000380003-21191930508161910217167107321272191018901716438616438611013862007-03-3129.62%16.57%16.57%28.33%1.9057-1.291.265.321.153.07522.43972.36260.37750.274129.8%46469
2006-11-2020064N/AN/A0.075N/AN/A144635582811246038899017696639680.10760.38912810852339048478884788-196297567971799464720164710747911007117478116438616438610685092006-09-3028.38%15.87%17.01%28.07%2.073416.70381.191.175.561.062.75872.22992.06260.43190.301625.6%38969
2006-08-0320063N/AN/A0.275N/AN/A138199438176200806438714426462720.08780.28152922752322887652376523-21575235218435929170164710395771040717511716438616438610520702006-06-3026.85%13.59%14.53%28.16%1.4992-1.311.285.01.073.03552.46192.28970.35470.261835.5%501184
2006-04-2620062N/AN/A0.075N/AN/A131156299977200104430714311318460.08710.19372809152305667071370713-2102029051232426438164710114191501914969116438616438610356312006-03-3126.57%14.29%15.26%28.48%1.0679-1.281.255.040.913.26062.56472.11830.33640.251753.3%-38N/A
2006-01-2020061N/AN/A0.1N/AN/A168821168821242972429717535175350.10670.10672676652188045996859968-2076971645511108887716468053471422415045616438616438610767282005-12-3126.19%13.33%14.39%27.83%0.6307-1.261.235.330.923.64872.87082.51060.28870.22494.1%-47N/A

Financial Quarter Balance Sheet
yearqrtDeferred tax assets (A-0)Intangible assets (A-0)Property, plant and equipment (A-0)Amount due from associated companies (A-1)Cash and cash equivalents (A-1)Current tax assets (A-1)Inventories (A-1)Prepaid lease payments (A-1)Trade receivables (A-1)Deferred tax liabilities (L-0)Amount due to associated companies (L-1)Current tax liabilities (L-1)Derivative financial liabilities (L-1)Trade and other payables (L-1)
201236693478276373-161447-57384-22925--10720-100713
201228178478277619-157950-66592-11098--14468-103784
201214884478279409-143387-64622-13153--8149-102969
201146025478281135-123201-68495-22322--8283-105355
201137978478286364-185103-50792-12381--8315-107586
201129318478288334-173441-57325-12358--7779-117261
201116608478289807-169885-50063-10709--406915111454
201045586478291000-136796-57344-25774--3089-107366
2010311548478294660-216279-55941-10777--8602528128235
2010210406478290486-188566-67929-11264--7366403115754
201019720478286308-180500-73182-14064--37421769119984
200949207478286800-158357-66238-9767--3423-94012
2009311794478287648-212467-70811-9299--6870-124143
200928287478269197-231774-67810-8694--4883-128846
2009111490478260196-235719-57973-8473--8477-127570
200849037478247486-222241541454795-99615414-6458-107119
2008311375478238547-272672-50297-4554--9497-106380
2008212265478227875-244212-51738-8583--11330-91304
2008113795478225567-242142-45830-10100--11512-94697
2007411757478223504-201623-46997-19146--9076-72819
2007311990478228904-216914-5411132314588--8666-85022
2007213208478229466-197117-523593238748--7081-78313
2007111116478229995-189017-508483235841--4310-75693
20064110704782313291579174881-44838-12606-43604699-75729
20063111474782440581634175218-43899-11537-28142771-70938
20062966547823590210829149792-49208-20737-5865840-64008
20061729047823678912044150558-46648-9554-14061119-57443

Financial Quarter Income Statement
yearqrtRevenueIncome tax expenseCost of salesOther incomeAdministrative/Operating expensesFinance/interest incomeSelling and distribution costs
201232241599005155017133825714-9129
201221886848840125444109721078-9099
201211792517458122017104221147-8110
201141823758653121071145519349-9858
201132115188648137986132731779-8659
20112169162663111817192817134-9140
201111727637095116951110521383-8166
201041841049707123293142325249-8970
20103191500729513306811920998-8752
20102168316825211589962315669-7398
201011754895623126574130418099-7152
20094171898595312381775918427-8080
200931748747861124774104016105-6689
2009215331359261071439117649-6410
20091163817659111577084616323-6577
200841718478402122737311714057-7879
2008318565910799126221449716547-6112
20082143155761498340186612794-4511
20081144797733999164116113671-4817
200741531879577105846877615197-4339
200731638949327111211214914137-5053
20072124852681584624184213224-4342
200711423186681100158100414461-5118
2006414463569071035831841333816554950
2006313819956541010961691338112994772
200621311565699963026441081912644645
2006116882167621246073851593017986170

Short form reference
a_date = announcement date, yr = financial year end, qrt = quarter
h_price = stock highest price during the quarter, l_price = stock lowest price during the quarter
div = dividend recommend or declare in the quarter, roe = return on equity
c_roe = cumulative of return on equity during the financial year
rev = revenue in the current quarter, c_rev = cumulative of revenue during the financial year
pbt = profit before tax in the current quarter, c_pbt = cumulative of profit before tax during the financial year
eps = earnings per share in the current quarter, c_eps = cumulative of earnings per share during the financial year
asset = total asset, liab = total liability, mino = minority interest, equi = total equity
cfo = net cash flow from operating activities, cfi = net cash flow from investing activities
cff = net cash flow from financing activities, cash = cash and cash equivalents as at beginning of financial year
final = cash and cash equivalents as at current financial period ended
share = diluted/basic weighted average number of ordinary shares
c_share = cumulative of diluted/basic weighted average number of ordinary shares during the financial year
m_cap = market capital at announcement date of quarterly report, date = current financial period ended date
prof_m = profit margin, vat = income tax rate, pe = price earning per share ratio of recent four quarter
navps = net asset value per share, ntaps = net tangible asset per share, cps = cash per share
l_cur = liquidity current ratio, l_qui = liquidity quick ratio, l_cash = liquidity cash ratio
g_de = gearing debt to equity ratio, g_da = gearing debt to assets ratio
avg_w = average working capital per thousand Ringgit sale
inv_d = average days to sell the inventory, rec_d = Average days to collect the receivables


CURRENT


●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS


HISTORICAL


●CHANGES IN SHAREHOLDING


ARCHIVES


●CHANGES IN SHAREHOLDING