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GES generates good cash flow (operating cash flow is higher than profits), boasts operating margins over the trailing months of 17.42%, an impressive return on equity over the trailing twelve months of 32.56%, a solid balance sheet and it's nice and cheap, with a PEG of just 0.38.
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Operating cash flow increased 1% to $3.05 billion for the trailing twelve months, compared with $3.03 billion for the trailing twelve months ended March 31 , 2011
Operating cash flow increased 9% to $3.03 billion for the trailing twelve months, compared with $2.78 billion for the trailing twelve months ended March 31 , 2010
Among the parameters of the screen: ROI must be at least 20% above industry average (for trailing 12 months); ROI over past five years must be at least 20% above industry average; trailing 12 months ROI outperformance of industry average must be more than 20% higher than five-year average outperformance; and trailing 12 months ROI must be more than 20% above five-year average ROI.
Applying the 6.4x EBITDA multiple to the trailing twelve months ending December 31 , 2003results in a valuation of $1.204 billion.
Derrough, however, used the EBITDAR based on projected earnings for the trailing twelve months ending December 31, 2003 ($196 million).
One measures the number of times over the trailing 12 months that the fund has increased its performance ranking relative to other funds; the second measures how often it has done so over the trailing 60 months.
By June 2001, Moody's expects the default rate for the trailing 12 months to peak at 7.5percentt.
The appropriate multiple is determined by comparing the enterprise value of comparable publicly traded companies to their trailing twelve months EBITDA.
And it's cheaper, on a trailing 12 months basis.
For the trailing twelve months, it's about a $9 billion business.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com