Here we will take a look at several key ratios and valuation metrics for shares of HIVE Blockchain Technologies Ltd. (TSXV:HIVE), starting with the Book to Market (BTM) ratio. Value investors seek stocks with high BTMs for their portfolios. The ratio is a comparison of the firm’s net asset value per share to it’s current price. This is helpful in determining how the market values the company compared to it’s actual worth. The Book to Market value of HIVE Blockchain Technologies Ltd. currently stands at 0.765037.
Volatility & Price
Stock volatility is a percentage that indicates whether a stock is a desirable purchase. Investors look at the Volatility 12m to determine if a company has a low volatility percentage or not over the course of a year. The Volatility 12m of HIVE Blockchain Technologies Ltd. (TSXV:HIVE) is 87.168500. This is calculated by taking weekly log normal returns and standard deviation of the share price over one year annualized. The lower the number, a company is thought to have low volatility. The Volatility 3m is a similar percentage determined by the daily log normal returns and standard deviation of the share price over 3 months. The Volatility 3m of HIVE Blockchain Technologies Ltd. (TSXV:HIVE) is 114.925100. The Volatility 6m is the same, except measured over the course of six months. The Volatility 6m is 117.937100.
We can now take a quick look at some historical stock price index data. HIVE Blockchain Technologies Ltd. (TSXV:HIVE) presently has a 10 month price index of 0.37600. The price index is calculated by dividing the current share price by the share price ten months ago. A ratio over one indicates an increase in share price over the period. A ratio lower than one shows that the price has decreased over that time period. Looking at some alternate time periods, the 12 month price index is 0.38525, the 24 month is 6.63842, and the 36 month is 26.11111. Narrowing in a bit closer, the 5 month price index is 0.81034, the 3 month is 1.77358, and the 1 month is currently 1.14634.
F Score, ERP5 and Magic Formula
The Piotroski F-Score is a scoring system between 1-9 that determines a firm’s financial strength. The score helps determine if a company’s stock is valuable or not. The Piotroski F-Score of HIVE Blockchain Technologies Ltd. (TSXV:HIVE) is 2. A score of nine indicates a high value stock, while a score of one indicates a low value stock. The score is calculated by the return on assets (ROA), Cash flow return on assets (CFROA), change in return of assets, and quality of earnings. It is also calculated by a change in gearing or leverage, liquidity, and change in shares in issue. The score is also determined by change in gross margin and change in asset turnover.
The ERP5 Rank is an investment tool that analysts use to discover undervalued companies. The ERP5 looks at the Price to Book ratio, Earnings Yield, ROIC and 5 year average ROIC. The ERP5 of HIVE Blockchain Technologies Ltd. (TSXV:HIVE) is 13927. The lower the ERP5 rank, the more undervalued a company is thought to be. The MF Rank (aka the Magic Formula) is a formula that pinpoints a valuable company trading at a good price. The formula is calculated by looking at companies that have a high earnings yield as well as a high return on invested capital. The MF Rank of HIVE Blockchain Technologies Ltd. (TSXV:HIVE) is 14708. A company with a low rank is considered a good company to invest in. The Magic Formula was introduced in a book written by Joel Greenblatt, entitled, “The Little Book that Beats the Market”.
The Leverage Ratio of HIVE Blockchain Technologies Ltd. (TSXV:HIVE) is 0.021444. Leverage ratio is the total debt of a company divided by total assets of the current and past year divided by two. Companies take on debt to finance their day to day operations. The leverage ratio can measure how much of a company’s capital comes from debt. With this ratio, investors can better estimate how well a company will be able to pay their long and short term financial obligations.
The Q.i. Value of HIVE Blockchain Technologies Ltd. (TSXV:HIVE) is 75.00000. The Q.i. Value is a helpful tool in determining if a company is undervalued or not. The Q.i. Value is calculated using the following ratios: EBITDA Yield, Earnings Yield, FCF Yield, and Liquidity. The lower the Q.i. value, the more undervalued the company is thought to be. The Value Composite One (VC1) is a method that investors use to determine a company’s value. The VC1 of HIVE Blockchain Technologies Ltd. (TSXV:HIVE) is 73. A company with a value of 0 is thought to be an undervalued company, while a company with a value of 100 is considered an overvalued company. The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings. Similarly, the Value Composite Two (VC2) is calculated with the same ratios, but adds the Shareholder Yield. The Value Composite Two of HIVE Blockchain Technologies Ltd. (TSXV:HIVE) is 75.
C-Score
HIVE Blockchain Technologies Ltd. (TSXV:HIVE) currently has a Montier C-score of 0.00000. This indicator was developed by James Montier in an attempt to identify firms that were cooking the books in order to appear better on paper. The score ranges from zero to six where a 0 would indicate no evidence of book cooking, and a 6 would indicate a high likelihood. A C-score of -1 would indicate that there is not enough information available to calculate the score. Montier used six inputs in the calculation. These inputs included a growing difference between net income and cash flow from operations, increasing receivable days, growing day’s sales of inventory, increasing other current assets, decrease in depreciation relative to gross property plant and equipment, and high total asset growth.
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Checking in on some valuation rankings, MACA Limited (ASX:MLD) has a Value Composite score of 6. Developed by James O’Shaughnessy, the VC score uses five valuation ratios. These ratios are price to earnings, price to cash flow, EBITDA to EV, price to book value, and price to sales. The VC is displayed as a number between 1 and 100. In general, a company with a score closer to 0 would be seen as undervalued, and a score closer to 100 would indicate an overvalued company. Adding a sixth ratio, shareholder yield, we can view the Value Composite 2 score which is currently sitting at 3.
MACA Limited (ASX:MLD) presently has a current ratio of 2.22. The current ratio, also known as the working capital ratio, is a liquidity ratio that displays the proportion of current assets of a business relative to the current liabilities. The ratio is simply calculated by dividing current liabilities by current assets. The ratio may be used to provide an idea of the ability of a certain company to pay back its liabilities with assets. Typically, the higher the current ratio the better, as the company may be more capable of paying back its obligations.
Return on Assets
There are many different tools to determine whether a company is profitable or not. One of the most popular ratios is the “Return on Assets” (aka ROA). This score indicates how profitable a company is relative to its total assets. The Return on Assets for MACA Limited (ASX:MLD) is 0.045213. This number is calculated by dividing net income after tax by the company’s total assets. A company that manages their assets well will have a higher return, while a company that manages their assets poorly will have a lower return.
MACA Limited (ASX:MLD)’s Leverage Ratio was recently noted as 0.168571. This ratio is calculated by dividing total debt by total assets plus total assets previous year, divided by two. The leverage of a company is relative to the amount of debt on the balance sheet. This ratio is often viewed as one measure of the financial health of a firm.
ERP5 Rank
The ERP5 Rank is an investment tool that analysts use to discover undervalued companies. The ERP5 looks at the Price to Book ratio, Earnings Yield, ROIC and 5 year average ROIC. The ERP5 of MACA Limited (ASX:MLD) is 2498. The lower the ERP5 rank, the more undervalued a company is thought to be.
FCF Yield 5yr Avg
The FCF Yield 5yr Average is calculated by taking the five year average free cash flow of a company, and dividing it by the current enterprise value. Enterprise Value is calculated by taking the market capitalization plus debt, minority interest and preferred shares, minus total cash and cash equivalents. The average FCF of a company is determined by looking at the cash generated by operations of the company. The Free Cash Flow Yield 5 Year Average of MACA Limited (ASX:MLD) is 0.117621.
Ever wonder how investors predict positive share price momentum? The Cross SMA 50/200, also known as the “Golden Cross” is the fifty day moving average divided by the two hundred day moving average. The SMA 50/200 for MACA Limited (ASX:MLD) is currently 0.88483. If the Golden Cross is greater than 1, then the 50 day moving average is above the 200 day moving average – indicating a positive share price momentum. If the Golden Cross is less than 1, then the 50 day moving average is below the 200 day moving average, indicating that the price might drop.
Magic Formula
The MF Rank (aka the Magic Formula) is a formula that pinpoints a valuable company trading at a good price. The formula is calculated by looking at companies that have a high earnings yield as well as a high return on invested capital. The MF Rank of MACA Limited (ASX:MLD) is 6175. A company with a low rank is considered a good company to invest in. The Magic Formula was introduced in a book written by Joel Greenblatt, entitled, “The Little Book that Beats the Market”.
Stock volatility is a percentage that indicates whether a stock is a desirable purchase. Investors look at the Volatility 12m to determine if a company has a low volatility percentage or not over the course of a year. The Volatility 12m of MACA Limited (ASX:MLD) is 42.613300. This is calculated by taking weekly log normal returns and standard deviation of the share price over one year annualized. The lower the number, a company is thought to have low volatility. The Volatility 3m is a similar percentage determined by the daily log normal returns and standard deviation of the share price over 3 months. The Volatility 3m of MACA Limited (ASX:MLD) is 34.883100. The Volatility 6m is the same, except measured over the course of six months. The Volatility 6m is 61.389300.
Yield
After a recent scan, we can see that MACA Limited (ASX:MLD) has a Shareholder Yield of 0.057020 and a Shareholder Yield (Mebane Faber) of -0.06526. The first value is calculated by adding the dividend yield to the percentage of repurchased shares. The second value adds in the net debt repaid yield to the calculation. Shareholder yield has the ability to show how much money the firm is giving back to shareholders via a few different avenues. Companies may issue new shares and buy back their own shares. This may occur at the same time. Investors may also use shareholder yield to gauge a baseline rate of return.
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