I have analysed the companies mentioned above.
CH Offshore – Pros:
- Good dividend yield
- Lowest P/E amongst the three
- Highest Gross Profit Margin and Net Profit Margin amongst the three
- Highest Current Ratio
CH Offshore – Cons:
- Extremely high CAPEX
- Thus, no free cashflow for a number of years
This one aspect has put me off and I’ve swept CH Offshore off my radar.
CSE Global – Pros:
- All the ratios and trends are fine expect that the current price ($0.955) is above my calculated intrinsic value ($0.69). Will wait till price comes below intrinsic value. See the thorough analysis as shown right below.
Yangzijiang – Financial statements are given in RMB. Need to convert to SGD to do a proper full analysis. However, a simple analysis of the company is given in the comparison table below.
Comparison of the three companies:
CSE Global thorough analysis:
On a side note, before setting up this blog, my analysis were all in Word doc and it wasn’t presentable. The ratios and trends cannot be seen at one glance. After trying out Excel spreadsheets as done by other bloggers, I must say it’s much nicer to look at and faster to analyse the companies with the use of formulas. If I haven’t started this blog, I think I will still be using the Word doc way and struggling through lots of files and scrolling up and down and spoiling my already deteriorating eyesight…