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- U.S.A. - Canada - U.K. - France - Germany - Japan - Hong-Kong	Alten - - Mid&Small 190 - IT Consulting & Other Services Alten SA is a France-based company that provides advanced technology consulting and engineering services. MARGIN OF SAFETY of Alten : 166.07 % The Margin of Safety of Alten is OK (>50%). How is the Margin of Safety calculated ? QUALITY : Conservative Investors : Enterprising Investors : What are the Stars ? FORUMS VISIT Alten FORUM ! Alerts : no buy or sell alert What are the alerts ? Price over 1 year : PRICE, INTRINSIC VALUE & MARGIN OF SAFETY based on GRAHAM's FORMULA What is the Graham's Formula ? Alten price is : (as of 5/22/2009) EUR Current Earnings per Share (2009 est.) are : EUR Estimated Long Term Growth (% per Year) is : % INTRINSIC VALUE = 1.27 x (8.5 + 2 x 8.76) = 33.05 EUR MARGIN OF SAFETY = (33.05 - 12.42 ) / 12.42 = 166.07 % (OK) How is Long Term Growth estimated for Alten ? Historical analysis for Alten - See detail QUALITATIVE FILTERS FOR Alten What are the Stars ? DEFENSIVE ENTERPRISING COMPANY SIZE (MKT CAP. Mls $) Small Cap. 551 mls.$ NO The company's Market cap. is under 5000 millions dollars - FINANCIAL CONDITION Current Ratio 1.41 The current ratio is under 2 The current ratio is under 1.5 LT Debt/Net Curr. Assets 0.02 The LTdebt/current assets ratio is under 1 The LTdebt/current assets ratio is under 1.1 EARNINGS STABILITY Losses / 10 - 5 Years 0 / 0 No losses in the past ten years No losses in the past five years DIVIDENDS Years of Dividends 0 Less than 15 years of dividend in the past 15 years No dividend for last year EARNINGS GROWTH Growth 10-5 Years 260% / 388% Total Earnings growth above 33% for the past 10 years Last year earnings above earnings 5 years ago VALUATION P.E. x P/Book 12.16 P.E. x P/Book is under 22.5 P/Book is under 1.20 P.E. 9.8 OK PE is under 15 - P/Book 1.24 OK P/Book is under 1.5 NO P/Book is above 1.2 Alten - Competitors for IT Consulting & Other Services   STOCK QUALITY Conservative Investors MARGIN OF SAFETY Long Term Growth Price / Earnings   Satyam Computer - India Nifty50 IT Consulting & Other Services MARGIN OF SAFETY : 999.99 % Long Term Growth : 13.14 % Price / Earnings : 1.6 x 53.55 / 33.50 = CTAC - Nederland Next Economy IT Consulting & Other Services MARGIN OF SAFETY : 405.64 % Long Term Growth : 15.85 % Price / Earnings : 7.9 x 3.1 / 0.39 = Solucom - France Next Economy IT Consulting & Other Services MARGIN OF SAFETY : 274.33 % Long Term Growth : 15.38 % Price / Earnings : 10.5 x 15 / 1.43 = Cap Gemini - France CAC 40 IT Consulting & Other Services MARGIN OF SAFETY : 270.25 % Long Term Growth : 15.27 % Price / Earnings : 10.5 x 26.99 / 2.56 = Econocom - Belgium Next Economy IT Consulting & Other Services MARGIN OF SAFETY : 222.79 % Long Term Growth : 8.55 % Price / Earnings : 7.9 x 5.63 / 0.71 = Sogeclair - France Next Economy IT Consulting & Other Services MARGIN OF SAFETY : 216.85 % Long Term Growth : 9.22 % Price / Earnings : 8.5 x 15.56 / 1.83 = HCL Techno - India Nifty50 IT Consulting & Other Services MARGIN OF SAFETY : 201.67 % Long Term Growth : 9.92 % Price / Earnings : 9.4 x 166.9 / 17.77 = Groupe Steria - France Mid&Small 190 IT Consulting & Other Services MARGIN OF SAFETY : 194.83 % Long Term Growth : 7.72 % Price / Earnings : 8.1 x 14.45 / 1.78 = CGI Group - Canada SP/TSX Comp. IT Consulting & Other Services MARGIN OF SAFETY : 186.46 % Long Term Growth : 10.48 % Price / Earnings : 10.3 x 10.08 / 0.98 = Alten - France Mid&Small 190 IT Consulting & Other Services MARGIN OF SAFETY : 166.15 % Long Term Growth : 8.76 % Price / Earnings : 9.8 x 12.42 / 1.27 = Accenture - U.S.A. (no index) IT Consulting & Other Services MARGIN OF SAFETY : 146.76 % Long Term Growth : 9.77 % Price / Earnings : 11.4 x 29.88 / 2.63 = Infosys Tech - India Nifty50 IT Consulting & Other Services MARGIN OF SAFETY : 134.21 % Long Term Growth : 13.74 % Price / Earnings : 15.4 x 1522.3 / 99.10 = Wipro Ltd - India Nifty50 IT Consulting & Other Services MARGIN OF SAFETY : 132.79 % Long Term Growth : 12.81 % Price / Earnings : 14.7 x 369.35 / 25.20 = Cognizant Tech - U.S.A. Nasdaq 100 IT Consulting & Other Services MARGIN OF SAFETY : 129.13 % Long Term Growth : 14.39 % Price / Earnings : 16.3 x 24.9 / 1.53 = Infosys Tech - U.S.A. Nasdaq 100 IT Consulting & Other Services MARGIN OF SAFETY : 120.09 % Long Term Growth : 13.54 % Price / Earnings : 16.2 x 31.53 / 1.95 = NTT DATA - Tokyo Nikkei 225 IT Consulting & Other Services MARGIN OF SAFETY : 102.95 % Long Term Growth : 11.45 % Price / Earnings : 15.5 x 264700 / 17112.00 = Reditus - Portugal Next Economy IT Consulting & Other Services MARGIN OF SAFETY : 42.57 % Long Term Growth : 12.98 % Price / Earnings : 24.2 x 7.25 / 0.30 = CSK HLDG - Tokyo Nikkei 225 IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 32.9 x 451 / 13.71 = Altran Tech - France Mid&Small 190 IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 8.7 x 2.51 / 0.29 = Atos Origin - France (no index) IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 11.0 x 24.48 / 2.22 = Aubay - France Next Economy IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 4.1 x 2.32 / 0.56 = Busi & Dec - France Next Economy IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 4.3 x 3.06 / 0.71 = Devoteam - France Mid&Small 190 IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 7.7 x 12.45 / 1.61 = GFI Informatique - France Mid&Small 190 IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 9.5 x 2.94 / 0.31 = Qurius NV - Nederland Next Economy IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 4.7 x 0.28 / 0.06 = Sodifrance - France Next Economy IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 9.3 x 4 / 0.43 = Soft Computing - France Next Economy IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 14.0 x 2.8 / 0.20 = CS Comm et Syst - France Mid&Small 190 IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 8.2 x 8.4 / 1.02 = Sopra Group - France Mid&Small 190 IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 7.4 x 26.81 / 3.64 = Tata Consult - India Nifty50 IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 12.0 x 634.05 / 52.72 = Unisys - U.S.A. SP 500 IT Consulting & Other Services MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : -33.0 x 1.32 / -0.04 =