Concepcion Industrial Corporation (CIC) Stock Analysis
Concepcion Industrial Corporation (CIC), formerly Concepcion Air Conditioning Corporation (CAC), was incorporated on July 17, 1997 and served as a subsidiary of Concepcion Industries Inc. (CII).
CIC is a supplier of air conditioners, air conditioning solutions, and refrigerators, and is exploring a potential expansion into other consumer appliance products and building solutions.
Through a restructuring in 2013, CII’s ownership interest in CIC was transferred to three other entities. On May 8, 2013, CIC acquired CDI from CII. On June 20, 2013, CAC was renamed to its present name.
The Company is part of the Concepcion Group of Companies, which includes interests in air conditioning, refrigeration, durable goods, communications, malls, and real estate properties.
CIC has a range of solutions and after-market service across multiple international and Philippine brands including Carrier, Toshiba, Condura, and Kelvinator. These solutions are designed to serve a wide array of customers and structure types, from individuals and single families living in small residences to thousands of residents, visitors and workers spread across large residential towers and office buildings, entertainment facilities, and commercial and industrial warehouses and factories.
The Company is primarily a holding company which operates principally through its three subsidiaries, Concepcion-Carrier Air Conditioning Company, Concepcion Durables, Inc., and Concepcion Otis Philippines, Inc., which was acquired on March 2014. CIC also has one affiliate, Concepcion Midea Inc.
Sector Details:
- Sector: Industrial
- Subsector: Electrical Components & Equipment
source: PSE Edge
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Value Screen Scorecard
Stocks are scored based on Profitability & Growth, Financial Health, Quality, Dividends and Valuation. Each criterion in the list is scored based on financial data for a total of 100 points. Stocks are ranked from 1 to 5, 1 being the highest.
Read this post to get more information on how the value scorecard works.
Scoring Criteria:
- Rank # 1: Extremely good company
- Rank # 2: Good company
- Rank # 3: Average company
- Rank # 4: Needs further study and research to identify the company's weaknesses
- Rank # 5: Risky company
Value Scorecard (2-3-2017 3Q2016)
Piotroski F-Score
The Piotroski F-Score is a financial metric model that's helpful in spotting turnaround businesses. For more information, you may read about it here.
Scoring Criteria:
- 7 to 9 points: Wonderful business
- 5 to 6 points: Average business
- 1 to 4 points: Weak business
Piotroski F-Score (2-3-2017 3Q2016)
Altman Z-Score
The Altman Z-Score is a bankruptcy prediction model that's helpful in spotting low quality companies. More information about it can be found in this post here.
Scoring Criteria:
- Z > 2.99; “SAFE” Zone (Healthy business)
- Z < 1.81; “DISTRESS” Zone (Troubled business)
- 1.81 > Z > 2.99; “GREY” Zone (Warrants more investigation)
Altman Z-Score (2-3-2017 3Q2016)
Estimated Growth Rates
Estimated growth rates are calculated using exponential chart trend line formula.
Estimated Growth Rates (3Q2016)
Intrinsic Value Calculations
The figures and all other variables used in order to get the intrinsic value are listed in detail below for reference purposes so that cross-checking can be made to verify the values obtained.
Intrinsic Value Calculations (2-3-2017 3Q2016)
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Just like its sister company, RFM, another great company to invest in – once the share price is right.
Keep up the good work!
At Php 42.82/sh, PEGY ratio would be 0.94. At this price, you’re really buying it at a discount. I’ll update this once I get my hands on the 4Q earnings report.