Matrix Composites update on new blog

Matrix Composites Update on new blog site.

Just another reminder that my blog has changed to If you want to keep receiving articles, you need to re-subscribe to that blog.



Reminder that this site has moved to

Just a reminder that if you want to keep up to date with my recent blogs, you will need to subscribe to my new site Unfortunately when I migrated site from this one, there was an issue with the WordPress export tool, and it didnt bring my subscribers over. According to WordPress support, the only way to fix this now is for you to re-subscribe to my new site. Pretty poor really, but what can you do?

To subscribe to the new site, open the link, scroll down until you see the “Sign me up” button. It doesn’t take long, you only need to enter your email address.

Site has moved to

For all those who subscribe or visit this blog, if you haven’t already received notification, future blogs will be posted to

Transfield Services – An analysis

Transfield Services (ASX:TSE) is an Australian listed company providing services such as operations, maintenance, and asset and project management services to the  Resources and Industrial, Infrastructure Services and Property and Facilities Management sectors. It was listed in May 2001.

In this report, I’m going to have an in-depth look at Transfield’s financials and its current valuation. I’ve also attached an Excel model for the company, so you can see the financials for yourself.

Read more of this post

Austock portfolio versus my model portfolio update 2 Sep 2011

My model portfolio continues to outperform the Austock portfolio. It’s now almost eight weeks since I started tracking these two portfolios, and I’m almost proud to say that my model portfolio is still leading the Austock portfolio, as you can see from the table below.

Read more of this post

Cheap stocks

Now that most companies with a June year-end have finalised their 2011 fiscal year results, I’ve updated the valuations for many companies and share my views on a few of them here, including some that I think are cheap.

Read more of this post

Calculating Intrinsic Value – Market multiples

In an earlier post, I discussed the PE ratio and how investors calculate it and use it as an indicator of value. The first part of this post will look at how the PE ratio is used as a multiple to calculate value. There are other market multiple ratios that are used including EV/EBIT, EV/EBITDA, EV/Sales, and those are just a few. With both PE ratio and other market multiple ratios, its important to remember that they are “relative” ratios, so they are generally used to compare a company ratio to similar market multiple ratios of companies in the same sector, different sectors and the overall market ratio. The issue is that the market as a whole may be expensive, so these ratios can be misleading. Read more of this post