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The Timken Company Message Board

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  • donttakemyword donttakemyword Sep 28, 1998 7:23 PM Flag

    time to buy?

    Your right - book value is easy to quantify in
    terms of calculating a specific number. Your
    calculation yields book value per share. Thanks for noting my
    inaccuracy.

    What is more difficult is relating that number to
    "value". In an extreme case, a company could be sitting on
    highly valuable real estate acquired years ago. The
    "book value" of the property could be quite small;
    where as the true value would be much greater. And
    calculating return on equity does not really reflect the true
    return on equity. Conversely, a company could be have an
    impaired or obsolete asset, the impairment of which is not
    reflected in book value.

    Determining these factors
    is very difficult for the average investor.

 
TKR
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