VALUE INVESTING, BENJAMIN GRAHAM, WARREN BUFFETT, GRAHAM's FORMULA

Benjamin Graham Warren Buffett Value investing

"I really like my life. I've arranged my life so that I can do what I want."
Warren BUFFETT

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Selecting value stocks with BENJAMIN GRAHAM

Learning Value Investing with BENJAMIN GRAHAM

Areva -

- Mid&Small 190 - Heavy Electrical Equipment

AREVA SA is a France-based company that offers technological solutions for nuclear power generation and electricity transmission and distribution.

	FORUMS VISIT Areva FORUM !
	MARGIN OF SAFETY of Areva : 74.13 % The Margin of Safety of Areva is OK (>50%). How is the Margin of Safety calculated ?
	QUALITY : Conservative Investors : Enterprising Investors : What are the Stars ?

Price over 1 year :

PRICE, INTRINSIC VALUE & MARGIN OF SAFETY based on GRAHAM's FORMULA
What is the Graham's Formula ?


Areva 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 = 22.43 x (8.5 + 2 x 11.82) =	720.90 EUR
MARGIN OF SAFETY = (720.90 - 413.99 ) / 413.99 =	74.13 % (OK)

How is Long Term Growth estimated for Areva ?

Historical analysis for Areva - See detail

QUALITATIVE FILTERS FOR Areva What are the Stars ?			DEFENSIVE	ENTERPRISING
COMPANY SIZE (MKT CAP. Mls $)	Small Cap.	828 mls.$	NO The company's Market cap. is under 5000 millions dollars	-
FINANCIAL CONDITION	Current Ratio	0.76	The current ratio is under 2	The current ratio is under 1.5
	LT Debt/Net Curr. Assets	-1.06	The LTdebt/current assets ratio is negative	The LTdebt/current assets ratio is negative
EARNINGS STABILITY	Losses / 10 - 5 Years	1 / 0	Some losses in the past ten years	No losses in the past five years
DIVIDENDS	Years of Dividends	15	15 years of dividend in the past 15 years	Current dividends paid
EARNINGS GROWTH	Growth 10-5 Years	48% / 104%%	Total Earnings growth above 33% for the past 10 years	Last year earnings above earnings 5 years ago
VALUATION	P.E. x P/Book	1.67	P.E. x P/Book is under 22.5	P/Book is under 1.20
	P.E.	18.5	NO PE is above 15	-
	P/Book	0.09	OK P/Book is under 1.5	OK P/Book is under 1.2