The Intelligent Investor - The Definitive Book On Value Investing

TABLE 13-1 A Comparison of Four Listed Companies

ELTRA

Emerson Electric

Emery Air Freight

Emhart Corp.

A. Capitalization

Price of common, Dec. 31, 1970

27

66

57

3 ⁄^4

32

3 ⁄^4

Number of shares of common

7,714,000

24,884,000

a

3,807,000

4,932,000

Market value of common

$208,300,000

$1,640,000,000

$220,000,000

$160,000,000

Bonds and preferred stock

8,000,000

42,000,000

9,200,000

Total capitalization

216,300,000

1,682,000,000

220,000,000

169,200,000

B. Income Items

Sales, 1970

$454,000,000

$657,000,000

$108,000,000

$227,000,000

Net income, 1970

20,773,000

54,600,000

5,679,000

13,551,000

Earned per share, 1970

$2.70

$2.30

$1.49

$2.75

b

Earned per share, ave., 1968–1970

2.78

2.10

1.28

2.81

Earned per share, ave., 1963–1965

1.54

1.06

.54

2.46

Earned per share, ave., 1958–1960

.54

.57

.17

1.21

Current dividend

1.20

1.16

1.00

1.20

C. Balance-sheet Items, 1970

Current assets

$205,000,000

$307,000,000

$20,400,000

$121,000,000

Current liabilities

71,000,000

72,000,000

11,800,000

34,800,000

Net assets for common stock

207,000,000

257,000,000

15,200,000

133,000,000

Book value per share

$27.05

$10.34

$3.96

$27.02

aAssuming conversion of preferred stock.bAfter special charge of 13 cents per share.cYear ended Sept. 1970.