"Success in investing doesn't correlate with I.Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing." - BusinessWeek Interview June 25 1999 Warren BUFFETT	Donate with Paypal
- U.S.A. - Canada - U.K. - France - Germany - Japan - Hong-Kong	United Tech - - DOW JONES 30 - Aerospace & Defense United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries. It has six segments: Otis, Carrier, UTC Fire & Security (UTC F&S), Pratt & Whitney, Hamilton Sundstrand and Sikorsky. MARGIN OF SAFETY of United Tech : 95.47 % The Margin of Safety of United Tech is OK (>50%). How is the Margin of Safety calculated ? QUALITY : Conservative Investors : Enterprising Investors : What are the Stars ? FORUMS VISIT United Tech FORUM ! Alerts : STOP at : 41.88 USD on : 3/18/2009 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 ? United Tech price is : (as of 5/21/2009) USD Current Earnings per Share (2009 est.) are : USD Estimated Long Term Growth (% per Year) is : % INTRINSIC VALUE = 4.10 x (8.5 + 2 x 7.85) = 99.22 USD MARGIN OF SAFETY = (99.22 - 50.76 ) / 50.76 = 95.47 % (OK) How is Long Term Growth estimated for United Tech ? Historical analysis for United Tech - See detail QUALITATIVE FILTERS FOR United Tech What are the Stars ? DEFENSIVE ENTERPRISING COMPANY SIZE (MKT CAP. Mls $) Very Large 48,082 mls.$ OK The company's Market cap. is above 5000 millions dollars - FINANCIAL CONDITION Current Ratio 1.24 The current ratio is under 2 The current ratio is under 1.5 LT Debt/Net Curr. Assets 2.00 The LTdebt/current assets ratio is above 1 The LTdebt/current assets ratio is above 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 15 15 years of dividend in the past 15 years Current dividends paid EARNINGS GROWTH Growth 10-5 Years 221% / 75%% Total Earnings growth above 33% for the past 10 years Last year earnings above earnings 5 years ago VALUATION P.E. x P/Book 37.46 P.E. x P/Book is above 22.5 P/Book is above 1.20 P.E. 12.4 OK PE is under 15 - P/Book 3.02 NO P/Book is above 1.5 NO P/Book is above 1.2 United Tech - Competitors for Aerospace & Defense   STOCK QUALITY Conservative Investors MARGIN OF SAFETY Long Term Growth Price / Earnings   BAE Systems - U.K. FTSE 100 Aerospace & Defense MARGIN OF SAFETY : 432.38 % Long Term Growth : 18.52 % Price / Earnings : 8.6 x 364.75 / 42.64 = EADS - France CAC 40 Aerospace & Defense MARGIN OF SAFETY : 308.01 % Long Term Growth : 12.91 % Price / Earnings : 8.4 x 11.02 / 1.31 = Raytheon - U.S.A. SP 500 Aerospace & Defense MARGIN OF SAFETY : 248.69 % Long Term Growth : 11.95 % Price / Earnings : 9.3 x 43.68 / 4.70 = Rolls-Royce Gp - U.K. FTSE 100 Aerospace & Defense MARGIN OF SAFETY : 239.22 % Long Term Growth : 12.32 % Price / Earnings : 9.8 x 330.25 / 33.80 = Lockheed Martin - U.S.A. SP 500 Aerospace & Defense MARGIN OF SAFETY : 234.80 % Long Term Growth : 14.13 % Price / Earnings : 11.0 x 81.48 / 7.42 = Precision Cast - U.S.A. SP 500 Aerospace & Defense MARGIN OF SAFETY : 232.01 % Long Term Growth : 13.56 % Price / Earnings : 10.7 x 80.45 / 7.50 = Zodiac Aerospace - France Mid&Small 190 Aerospace & Defense MARGIN OF SAFETY : 226.28 % Long Term Growth : 7.10 % Price / Earnings : 7.0 x 21.28 / 3.06 = L-3 Communi Hldg - U.S.A. SP 500 Aerospace & Defense MARGIN OF SAFETY : 220.38 % Long Term Growth : 11.41 % Price / Earnings : 9.8 x 71.37 / 7.30 = Embraer - Brazil Bovespa Aerospace & Defense MARGIN OF SAFETY : 196.18 % Long Term Growth : 4.25 % Price / Earnings : 5.7 x 9.13 / 1.59 = General Dynamics - U.S.A. SP 500 Aerospace & Defense MARGIN OF SAFETY : 192.75 % Long Term Growth : 9.01 % Price / Earnings : 9.1 x 55.7 / 6.15 = Goodrich - U.S.A. SP 500 Aerospace & Defense MARGIN OF SAFETY : 183.31 % Long Term Growth : 9.38 % Price / Earnings : 9.6 x 44.75 / 4.65 = Rockwell Collins - U.S.A. SP 500 Aerospace & Defense MARGIN OF SAFETY : 178.35 % Long Term Growth : 10.17 % Price / Earnings : 10.4 x 39.78 / 3.84 = Honeywell Intl - U.S.A. DOW JONES 30 Aerospace & Defense MARGIN OF SAFETY : 159.73 % Long Term Growth : 10.25 % Price / Earnings : 11.2 x 31.82 / 2.85 = Boeing - U.S.A. DOW JONES 30 Aerospace & Defense MARGIN OF SAFETY : 125.05 % Long Term Growth : 6.46 % Price / Earnings : 9.5 x 43.29 / 4.55 = ITT - U.S.A. SP 500 Aerospace & Defense MARGIN OF SAFETY : 109.41 % Long Term Growth : 7.83 % Price / Earnings : 11.5 x 39.57 / 3.43 = Northrop Grumman - U.S.A. SP 500 Aerospace & Defense MARGIN OF SAFETY : 106.69 % Long Term Growth : 5.90 % Price / Earnings : 9.8 x 48.14 / 4.90 = United Tech - U.S.A. DOW JONES 30 Aerospace & Defense MARGIN OF SAFETY : 95.47 % Long Term Growth : 7.85 % Price / Earnings : 12.4 x 50.76 / 4.10 = CAE Inc - Canada SP/TSX Comp. Aerospace & Defense MARGIN OF SAFETY : 25.71 % Long Term Growth : 2.73 % Price / Earnings : 11.1 x 7.11 / 0.64 = St Engrg - Singapore Strait-Times Aerospace & Defense MARGIN OF SAFETY : 6.73 % Long Term Growth : 4.31 % Price / Earnings : 15.9 x 2.39 / 0.15 = Bombardier - Canada TSE60 Aerospace & Defense MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 9.3 x 3.81 / 0.41 = Latecoere - France Mid&Small 190 Aerospace & Defense MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : -2.6 x 4.57 / -1.75 = Allen Vang - Canada SP/TSX Comp. Aerospace & Defense MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 0.9 x 0.14 / 0.15 =