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Security National Financial Corp. Message Board

  • stocnup stocnup Apr 11, 2013 3:12 PM Flag

    I mentioned INOC to gmtruck earler today; now trading at a new 52 week high $4.02 up 0.59 (+17.2%)!

    INOC released Q4 a couple of weeks ago and earned 27 cents for the year... way undervalued, but is getting some attention now. Hey, watch CPSS next week Q1 is out on Wed!

    Sentiment: Strong Buy

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    • Just looked at INOC. They are doing well, but with $.11 untaxed for the Dec qtr 2012, and $.27 for the the year, I'd say the stock is more than fully valued already. I didn't read the 10K to see if there's seasonality, but even assuming there isn't and you annualize the Dec qtr, you get $.44 untaxed, and if taxed at a normal rate, around $.29. Therefore at $4, the stock is selling at a 14 PE assuming fully taxed going forward.

      With CPSS, they looked like they made a huge amount for 2012 of $69M, but actually they only made $9M as there was a $60M tax benefit in the Dec qtr. With 25.5M shares fully diluted, that comes to about $.35 for 2012 untaxed ! if taxed at a normal rate, that would be about $.23 for 2012 So at $10,50, the stock is selling for an astounding 45 PE assuming fully taxed for 2012 !

      SNFCA is selling at a 4.5 PE fully taxed going forward, and a 5 PE based on 2012 EPS of $1.57. How can you compare INOC or CPSS to SNFCA. They are infinitely more expensive.

      My advice would be in general, not to give micro-small cap stocks more than a 15 PE fully taxed going forward no matter what. Of course there are exceptions, but they are few in my opinion. IFMI, CMT, RFIL. UVE, and GV are a few selling at well less than a 10 PE fully taxed and fully diluted going forward, have good balance sheets, and all have nice growth. UVE, IFMI and RFIL pay a nice dividend in addition.

4.5501+0.0001(0.00%)9:55 AMEDT