Sunday, December 18, 2011

SCC 3Q 2011

i had been going over my 3rd quarter 2011 worksheet this weekend. id like to share some figures taken/computed from the 3Q 2011 financial statement of semirara mining corporation (scc):

assets: 33.8 billion pesos
liabilities: 19.9 billion pesos
equity: 13.9 billion pesos
cash and cash equivalent: 6.3 billion pesos
retained earnings (unappropriated): 6.24 billion pesos (assuming appropriated retained earnings remains @700 million pesos)

revenue 3Q 2011: 21.45 billion pesos
revenue 3Q 2010: 16.9 billion pesos
% change: 26.98%

net income 3Q 2011: 5.196 billion pesos
net income 3Q 2010: 3.212 billion pesos
% change: 61.74%

last closing price (16 december 2011): 215 pesos
earnings per share (annualized): 19.45 pesos
price-earnings ratio: 11x
book value per share: 39.20 pesos
price/book value: 5.48
return on equity: 49.6%
return on assets: 20.5%
net income margin: 24.22%

current ratio: 1.70
debt-to-equity: 1.42

source of basic data: Quarterly Report for the period ended 30 September 2011


1. a 10 peso cash dividend was given in may 2011.
2. if a cash dividend were to be given today, unappropriated retained earnings can cover a maximum of 17.52 pesos per share.
3. there is enough cash to cover the cash dividend.
4. or ... a maximum of 1,752% stock dividend may be given instead (in 2004, scc gave a 900% stock dividend to shareholders).
5. a 10 shares-to-1 share stock split would make scc at the same price level as other mining shares like px, at, nikl (long shot possibility).