The CAP began operating in 1962, with the then European Community intervening to buy farm output when the market price fell below an agreed target level.
Google's enterprise multiple, the ratio of market cap plus debt to operating earnings (Ebitda, that is), is 33, compared with an industry average of 18 (where Yahoo is).
The enterprise value multiple (market cap plus debt, divided by operating income) is a cheap 4.9.
With a trailing multiple of enterprise value (market cap plus debt minus cash) to operating income of 14, giant Comcast is cheaper than its smaller, slower-growing peers.
To attract commercial contractors, some of whom resent tripping over weekend amateurs in the orange stores, Nardelli is keeping some recently acquired construction supply firms (like White Cap Construction) as stand-alones operating under their own brand names.
One of the policy positions in the leaked policy paper in Valor is supposedly a move to limit to the growth of federal operating expenses and pass a bill that would also cap the annual growth of spending on salaries of civil servants, namely politicians in the capital, which historically tend to give themselves double digit raises.
In 2010, according to the research firm ISI Group, big-cap tech as a group had its highest operating margins ever, around 20%.
This stock has been a downer all year, so anyone who likes to buy large cap liquid stocks that are out of favor but operating in a business with strong fundamentals, then maybe AsiaInfo is the value play to buy.
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For the soon-to-merge German utilities Viag and Veba, both of which trade at an enterprise value (market cap plus debt) of less than six times operating income, government threats to shut down nuclear plants are enough to scare away investors--both financial and strategic--no matter how cheap the stocks.
The appropriate level of cap will vary depending on the sector the organisation is operating in.
Its enterprise value (market cap plus debt minus cash) is 7.5 times operating income (Ebitda, that is).
With a cap, however, he could more easily build a playoff team without incurring operating losses.
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Our conclusion is that large cap banks are not currently priced for sustained earnings growth, and that those banks that can create operating leverage and deploy capital are in a position to achieve low double digit EPS growth even with modest top line growth.
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