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MISC: You might not have MISCed it!
by CFA Malaysia

Performance in the Last Five Years

Just how well did MISC performed in the subsequent five years after year 2001? It certainly has not disappointed the shareholders by achieving the performance highlighted below:

  • PER valuation has improved, despite a dip in year 2005.
  • Sales continued to grow rapidly at CAGR of 18%.
  • Net Profit/EPS continued to grow at above market average.
  • Operating cash flow remained robust, growing by an average of 17%.
  • ROE remained high at an average of 21%.

Conclusion

Using MISC as a case study, we have highlighted some financial measurements that can be used to analyze the investability of a particular company, Although there is no guarantee that extrapolation of future results based on the past performance will work under all circumstances, we are of the opinion that it does provide useful information as to the future of a company. In the case of MISC, the numbers should have pointed investors in the right direction such that seasoned investors who followed the financial results of MISC would not have ‘MISCed’ the golden opportunity!

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Disclaimer: This article is based on historical data and performance and is not a recommendation for investment.