Fundamental Analysis Workshop Series Session Two – Art of Reading Annual Reports.

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Presentation transcript:

Fundamental Analysis Workshop Series Session Two – Art of Reading Annual Reports

Where to find? Basic Decrypting Applying the Information Q & A Introduction DISCLOSURES & DISCLAIMERS This research material has been prepared by NUS Invest. NUS Invest specifically prohibits the redistribution of this material in whole or in part without the written permission of NUS Invest. The research officer(s) primarily responsible for the content of this research material, in whole or in part, certifies that their views are accurately expressed and they will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this research material.

DISCLOSURES & DISCLAIMERS Nothing in this research material constitutes a representation that any investment strategy or recommendation contained herein is suitable or appropriate to a recipient’s individual circumstances or otherwise constitutes a personal recommendation. It is published solely for information purposes, it does not constitute an advertisement and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. The research material should not be regarded by recipients as a substitute for the exercise of their own judgement. Any opinions expressed in this research material are subject to change without notice. Where to find? Basic Decrypting Applying the Information Q & A Introduction

SYLLABUS Where to find? Basic Decrypting Applying the Information Q & A Introduction SEMESTER 2 WK 2 Introduction to Stock Investing WK 3 Art of Reading Annual Reports WK 4 Picking the Right Stocks(Part I) – Top Down Analysis WK 5 Picking the Right Stocks (Part II) – Bottom Up Analysis WK 6 Picking the Right Stocks (Part III) – Dividend Investing RECESS WEEK WK 7 Portfolio Management for the Retail Investor WK 8 Case Study 1 WK 9 Case Study 2 WK 10 Case Study 2 WK 11 Traders Interview

Common Issues Where to source out the important and relevant information? What do certain terms mean? Where to find? Basic Decrypting Applying the Information Q & A Introduction

Agenda Where to find Annual Reports? Understanding an Annual Report – Income Statement – Balanced Sheet – Cash Flow Statement – Statement of Retained Earnings Applying the information Where to find? Basic Decrypting Applying the Information Q & A Introduction

INTRODUCTION Where to find? Basic Decrypting Applying the Information Q & A Introduction

PROFILE NUS Invest Research Analyst Year 1 BBA 2 years experience Pure Fundamental Analysis Where to find? Basic Decrypting Applying the Information Q & A Introduction

Where can I find Annual Reports? Where to find? TECHNICAL ANALYSIS DOW THEORY Q & A Introduction

Where to find? Basic Decrypting Applying the Information Q & A Introduction Where can I find Annual Reports?

Where to find? Basic Decrypting Applying the Information Q & A Introduction

Decrypting the Annual Report Where to find? Basic Decrypting DOW THEORY Q & A Introduction

Where to find? Basic Decrypting Applying the Information Q & A Introduction Annual Report Released annually Snapshot of the business No two are the exactly same

Where to find? Basic Decrypting Applying the Information Q & A Introduction

Where to find? Basic Decrypting Applying the Information Q & A Introduction

Main Components Chairman’s Statement Business Review Income Statement Balanced Sheet Statement of Cash flow Statement of Retained Earnings Where to find? Basic Decrypting Applying the Information Q & A Introduction

Chairman’s Statement Where to find? Basic Decrypting Applying the Information Q & A Introduction

Business Review Where to find? Basic Decrypting Applying the Information Q & A Introduction

Business Review

Income Statement Where to find? Basic Decrypting Applying the Information Q & A Introduction

Balanced Sheet Where to find? Basic Decrypting Applying the Information Q & A Introduction

Where to find? Basic Decrypting Applying the Information Q & A Introduction

Where to find? Basic Decrypting Applying the Information Q & A Introduction

Statement of Cash Flow Where to find? Basic Decrypting Applying the Information Q & A Introduction

Statement of Retained Earnings Where to find? Basic Decrypting Applying the Information Q & A Introduction

Applying the Information Where to find? Basic Decryption Applying the Information Q & A Introduction

Where to find? Basic Decryption Applying the Information Q & A Introduction Ratios NTA EPS PE ROE Current Ratio Debt/Equity

Where to find? Basic Decryption Applying the Information Q & A Introduction Mentality Be curious, inquisitive Take nothing for granted Don’t be swayed by neither optimism nor pessimism Make your own judgements Stand by them

Liquidating Value Asset Class Coefficient (%) Cash and cash equivalents100 Trade and other receivables80 Inventories66 Financial assets, available for sale15 Property, plant and equipment15

Q & A Where to find? Basic Decrypting Applying the Information Q & A Introduction

Summary Curiosity Patience Hardwork Where to find? Basic Decrypting Applying the Information Q & A Introduction

THANK YOU! Where to find? Basic Decrypting Applying the Information Q & A Introduction