Company Name ROE (%) Payout ratio(%) Retention Ratio(%)

Asian Paints Ltd 26.46% 54.49% 45.51%

Axis Bank Ltd 0.40% 0.00% 100.00%
Bajaj Finance Ltd 15.60% 12.60% 87.40%
Bharti Airtel Ltd 2.34% 24.54% 75.46%
Coal India Ltd 12.38% 11.60% 88.40%
HCL Technologies Ltd 4.33% 20.00% 80.00%
HDFC Bank Ltd 16.50% 23.10% 76.90%
Hindustan Unilever Ltd 17.59% 18.73% 81.27%
Hindustan Zinc Ltd 26.81% 54.94% 45.06%
Housing Development Finance Corp 11.20% 47.70% 52.30%
ICICI Bank Ltd 6.60% 50.50% 49.50%
Indian Oil Corp Ltd -15.29% 0.00% 100.00%
IndusInd Bank Ltd 15.30% 14.70% 85.30%
Infosys Ltd 12.18% 32.48% 67.52%
ITC Ltd 31.68% 68.50% 31.50%
Kotak Mahindra Bank Ltd 12.30% 0.00% 100.00%
Larsen & Toubro Ltd 26.66% 35.09% 64.91%
Mahindra & Mahindra Ltd 13.18% 1.66% 98.34%
Maruti Suzuki India Ltd 17.64% 20.00% 80.00%
NTPC Ltd 15.79% 32.90% 67.10%
Oil & Natural Gas Corp Ltd 17.39% 38.85% 61.15%
Power Grid Corp of India Ltd 22.55% 25.28% 74.72%
Reliance Industries Ltd 6.20% 16.01% 83.99%
State Bank of India 1.10% 20.00% 80.00%
Sun Pharmaceutical Industries Ltd 21.31% 20.72% 79.28%
Tata Consultancy Services Ltd 9.14% 41.09% 58.91%
Tata Motors Ltd 31.40% 99.35% 0.65%
UltraTech Cement Ltd 23.09% 21.22% 78.78%
Vedanta Ltd 13.45% 99.54% 0.46%
Wipro Ltd 17.67% 0.00% 100.00%

SUMMARY OUTPUT

Regression Statistics
Multiple R 0.344304
R Square 0.118545
Adjusted R Square 0.053252
Standard Error 150.297
Observations 30

ANOVA
df SS MS
Regression 2 82025.4741673 41012.7370836395
Residual 27 609907.725679 22589.1750251544
Total 29 691933.199846
 Coefficients Standard Error t Stat
Intercept -44.18497 76.3234280933 -0.5789175876463
Growth rate(%) 202.5145 384.120185803 0.52721646327275
Equity Beta 99.04321 52.6385131921 1.88157316024436
Growth rate(%) Equity Beta Price (23 May 2018) EPS FY18 Actual P/E PredictedP/E
12.04% 1.2 1286.85 21.46998 59.93717994 99.04788799
0.40% 2 523.3 1.1 475.7272727 401.410971
13.63% 1.44 2149.3 44.4 48.40765766 269.2770763
1.77% 1.06 361.85 4.07532 88.79057022 108.5661411
10.95% 0.93 279.05 21.51343 12.97096693 114.2758087
3.46% 0.14 904.9 6.745258 134.1535131 20.8753848
12.69% 1.19 1989.9 67.4 29.52373887 143.5574747
14.30% 0.69 1574.3 21.3527 73.72838356 97.28950538
12.08% 1.42 288.45 39.57807 7.288127685 165.1041042
5.86% 1.18 1810 42 43.0952381 128.7334806
3.27% 1.92 290.3 10.5 27.64761905 196.7791184
-15.29% 0.85 160.5 -9.561581 -16.785927 53.22390806
13.05% 1.7 1903.95 60.1 31.6797005 194.8034262
8.22% 0.42 1193.85 21.64857 55.14683158 58.25100485
9.98% 0.66 278.75 58.33351 4.778556984 85.58007434
12.30% 1.13 1262.7 32.5 38.85230769 136.8281131
17.31% 1.74 1320.15 47.15793 27.99423071 207.3854307
12.96% 0.83 830.2 18.99141 43.71450259 108.4540581
14.11% 1.72 8560.65 11.72219 730.2947284 198.9389152
10.60% 0.82 165.15 45.5935 3.622226581 102.678753
10.63% 1.24 185.2 13.64137 13.57634443 144.3446975
16.85% 0.9 210.75 17.79973 11.840068 123.2606389
5.20% 0.98 926.75 18.73998 49.4531036 107.6028742
0.88% 1.87 253.9 2.7 94.03703704 186.9929369
16.89% 0.05 453 14.47868 31.2873797 39.15965529
5.38% 0.38 3508.9 33.70587 104.1035202 48.54060629
0.20% 1.61 307.7 134.9118 2.280749213 159.8735868
18.19% 1.52 3755.55 14.13884 265.6194366 187.3896412
0.06% 1.45 269.95 21.29831 12.67471558 143.738341
17.67% 0.35 264.95 18.86142 14.04719251 70.44532857

F Significance F
1.8155925144663 0.18205371
 P-value Lower 95% Upper 95% Lower 95.0%Upper 95.0%
0.567443480335927 -200.78771 112.417764011519 -200.7877 112.417764
0.602348855464509 -585.63503 990.664005058599 -585.635 990.6640051
0.070716966084939 -8.9620941 207.048521327321 -8.962094 207.0485213
Undervalued or Overvalued % over/undervalued
Undervalued -39.49%
Overvalued 18.51%
Undervalued -82.02%
Undervalued -18.22%
Undervalued -88.65%
Overvalued 542.64%
Undervalued -79.43%
Undervalued -24.22%
Undervalued -95.59%
Undervalued -66.52%
Undervalued -85.95%
Undervalued -131.54%
Undervalued -83.74%
Undervalued -5.33%
Undervalued -94.42%
Undervalued -71.61%
Undervalued -86.50%
Undervalued -59.69%
Overvalued 267.09%
Undervalued -96.47%
Undervalued -90.59%
Undervalued -90.39%
Undervalued -54.04%
Undervalued -49.71%
Undervalued -20.10%
Overvalued 114.47%
Undervalued -98.57%
Overvalued 41.75%
Undervalued -91.18%
Undervalued -80.06%
Negative sign reflects undervalued
Company Name ROE (%) Payout ratio(%) Retention Ratio(%) Growth rate(%)
Asian Paints Ltd 26.46% 54.49% 45.51% 12.04%
Axis Bank Ltd 0.40% 0.00% 100.00% 0.40%
Bajaj Finance Ltd 15.60% 12.60% 87.40% 13.63%
Bharti Airtel Ltd 2.34% 24.54% 75.46% 1.77%
Coal India Ltd 12.38% 11.60% 88.40% 10.95%
HCL Technologies Ltd 4.33% 20.00% 80.00% 3.46%
HDFC Bank Ltd 16.50% 23.10% 76.90% 12.69%
Hindustan Unilever Ltd 17.59% 18.73% 81.27% 14.30%
Hindustan Zinc Ltd 26.81% 54.94% 45.06% 12.08%
Housing Development Finance Corp 11.20% 47.70% 52.30% 5.86%
ICICI Bank Ltd 6.60% 50.50% 49.50% 3.27%
Indian Oil Corp Ltd -15.29% 0.00% 100.00% -15.29%
IndusInd Bank Ltd 15.30% 14.70% 85.30% 13.05%
Infosys Ltd 12.18% 32.48% 67.52% 8.22%
ITC Ltd 31.68% 68.50% 31.50% 9.98%
Kotak Mahindra Bank Ltd 12.30% 0.00% 100.00% 12.30%
Larsen & Toubro Ltd 26.66% 35.09% 64.91% 17.31%
Mahindra & Mahindra Ltd 13.18% 1.66% 98.34% 12.96%
Maruti Suzuki India Ltd 17.64% 20.00% 80.00% 14.11%
NTPC Ltd 15.79% 32.90% 67.10% 10.60%
Oil & Natural Gas Corp Ltd 17.39% 38.85% 61.15% 10.63%
Power Grid Corp of India Ltd 22.55% 25.28% 74.72% 16.85%
Reliance Industries Ltd 6.20% 16.01% 83.99% 5.20%
State Bank of India 1.10% 20.00% 80.00% 0.88%
Sun Pharmaceutical Industries Ltd 21.31% 20.72% 79.28% 16.89%
Tata Consultancy Services Ltd 9.14% 41.09% 58.91% 5.38%
Tata Motors Ltd 31.40% 99.35% 0.65% 0.20%
UltraTech Cement Ltd 23.09% 21.22% 78.78% 18.19%
Vedanta Ltd 13.45% 99.54% 0.46% 0.06%
Wipro Ltd 17.67% 0.00% 100.00% 17.67%
Equity Beta Price (23 May 2018) EPS FY18 Actual P/E
1.2 1286.85 21.469979091 59.93717994
2 523.3 1.1 475.7272727
1.44 2149.3 44.4 48.40765766
1.06 361.85 4.0753201505 88.79057022
0.93 279.05 21.513430843 12.97096693
0.14 904.9 6.7452575718 134.1535131
1.19 1989.9 67.4 29.52373887
0.69 1574.3 21.352699244 73.72838356
1.42 288.45 39.578066201 7.288127685
1.18 1810 42 43.0952381
1.92 290.3 10.5 27.64761905
0.85 160.5 -9.561580959 -16.785927
1.7 1903.95 60.1 31.6797005
0.42 1193.85 21.648569209 55.14683158
0.66 278.75 58.333509666 4.778556984
1.13 1262.7 32.5 38.85230769
1.74 1320.15 47.157930992 27.99423071
0.83 830.2 18.991409048 43.71450259
1.72 8560.65 11.722185122 730.2947284
0.82 165.15 45.593503424 3.622226581
1.24 185.2 13.641374597 13.57634443
0.9 210.75 17.799728855 11.840068
0.98 926.75 18.739976513 49.4531036
1.87 253.9 2.7 94.03703704
0.05 453 14.478681317 31.2873797
0.38 3508.9 33.705872696 104.1035202
1.61 307.7 134.91180803 2.280749213
1.52 3755.55 14.13883731 265.6194366
1.45 269.95 21.298308292 12.67471558
0.35 264.95 18.86142016 14.04719251
Company Name Retention Ratio Payout ratio ROE
Adani Ports and Special Economic Zone 93.1% 6.9% 17.4%
Ambuja Cements Ltd 61.2% 38.8% 6.0%
Asian Paints Ltd 45.5% 54.5% 26.5%
Avenue Supermarts Ltd 66.7% 33.3% 17.8%
Bajaj Auto Ltd 56.0% 44.0% 22.8%
Bharat Petroleum Corp Ltd 50.8% 49.2% 22.7%
Bharti Airtel Ltd 75.5% 24.5% 2.3%
Bharti Infratel Ltd. 100.0% 0.0% 14.9%
Bosch Ltd 66.2% 33.8% 14.6%
Britannia Industries Ltd. 65.0% 35.0% 31.0%
Cipla Ltd/India 88.4% 11.6% 12.4%
Coal India Ltd 7.3% 92.7% 47.4%
Dabur India Ltd 3.5% 96.5% 24.0%
Eicher Motors Ltd 81.5% 18.5% 32.2%
Gail India Ltd 69.0% 31.0% 11.5%
Godrej Consumer Products Ltd 64.8% 35.2% 21.3%
Grasim Industries Ltd 85.2% 14.8% 6.7%
HCL Technologies Ltd 87.3% 12.7% 23.9%
Hero MotoCorp Ltd 48.7% 51.3% 31.4%
Hindalco Industries Ltd 92.6% 7.4% 8.4%
Hindustan Petroleum Corp Ltd 45.1% 54.9% 26.8%
Hindustan Unilever Ltd 18.6% 81.4% 76.6%
Hindustan Zinc Ltd 62.1% 37.9% 24.8%
Indian Oil Corp Ltd 39.8% 60.2% 17.8%
Infosys Ltd 56.2% 43.8% 24.8%
InterGlobe Aviation Ltd 31.5% 68.5% 31.7%
ITC Ltd 27.7% 72.3% 21.8%
JSW Steel Ltd 94.4% 5.6% 19.1%
Larsen & Toubro Ltd 70.8% 29.2% 12.4%
Mahindra & Mahindra Ltd 73.6% 26.4% 16.4%
Maruti Suzuki India Ltd 70.0% 30.0% 19.3%
Motherson Sumi Systems Ltd 78.4% 21.6% 18.0%
Nestle India Ltd 38.6% 61.4% 39.5%
NTPC Ltd 65.3% 34.7% 10.3%
Oil & Natural Gas Corp Ltd 44.5% 55.5% 9.4%
Pidilite Industries Ltd 74.7% 25.3% 22.5%
Piramal Enterprises Ltd 62.9% 37.1% 6.6%
Power Grid Corp of India Ltd 81.7% 18.3% 15.6%
Reliance Industries Ltd 90.4% 9.6% 12.3%
Shree Cement Ltd 87.1% 12.9% 16.3%
Sun Pharmaceutical Industries Ltd 77.3% 22.7% 8.4%
Tata Consultancy Services Ltd 0.7% 99.3% 31.4%
Tata Motors Ltd 99.0% 1.0% 12.4%
Tata Steel Ltd 86.3% 13.7% 13.7%
Tech Mahindra Ltd 66.7% 33.3% 20.3%
Titan Co Ltd 50.0% 50.0% 21.2%
UltraTech Cement Ltd 82.2% 17.8% 9.3%
V-Guard Industries Ltd 0.5% 99.5% 13.4%
Wipro Ltd 100.0% 0.0% 17.7%
Zee Entertainment Enterprises Ltd 80.8% 19.2% 16.2%

SUMMARY OUTPUT

Regression Statistics
Multiple R 0.767644481857
R Square 0.589278050525
Adjusted R Square 0.552769432794
Standard Error 5.914113594429
Observations 50

ANOVA
df SS MS
Regression 4 2258.20929 564.55232246
Residual 45 1573.95328 34.976739608
Total 49 3832.16257

Coefficients Standard Error t Stat

Intercept -3.45606169113 4.5622758 -0.97671905
Growth rate -14.7961131004 28.9009974 -0.511958562
Beta 1.774956517917 2.16579001 0.8195422959
ROE 62.03077232992 13.232987 4.6875865741
Payout ratio -2.46794968199 6.7188109 -0.367319414
Growth rate Ln(growth rate) Beta ROE Payout ratActual P/BV
16.23% -1.82 1.27 17.4% 6.9% 3.9
3.66% -3.31 1.3 6.0% 38.8% 2.2
12.04% -2.12 1.2 26.5% 54.5% 15.2
11.89% -2.13 1.41 17.8% 33.3% 21.1
12.77% -2.06 0.98 22.8% 44.0% 3.6
11.56% -2.16 1.59 22.7% 49.2% 2.4
1.77% -4.04 1.06 2.3% 24.5% 2.1
14.88% -1.90 0.78 14.9% 0.0% 3.1
9.63% -2.34 1.54 14.6% 33.8% 5.7
20.14% -1.60 0.62 31.0% 35.0% 22.9
10.95% -2.21 0.47 12.4% 11.6% 3.6
3.44% -3.37 0.93 47.4% 92.7% 8.5
0.84% -4.78 0.64 24.0% 96.5% 12.8
26.30% -1.34 0.6 32.2% 18.5% 10.6
7.94% -2.53 1.04 11.5% 31.0% 2.1
13.82% -1.98 0.83 21.3% 35.2% 13.5
5.68% -2.87 1.28 6.7% 14.8% 1.2
20.83% -1.57 0.14 23.9% 12.7% 3.5
15.30% -1.88 0.89 31.4% 51.3% 5.2
7.81% -2.55 1.51 8.4% 7.4% 1.0
12.08% -2.11 1.08 26.8% 54.9% 1.7
14.26% -1.95 0.69 76.6% 81.4% 52.2
15.41% -1.87 1.42 24.8% 37.9% 3.1
7.09% -2.65 0.85 17.8% 60.2% 1.4
13.93% -1.97 0.42 24.8% 43.8% 4.3
9.98% -2.30 0.65 31.7% 68.5% 5.3
6.03% -2.81 0.66 21.8% 72.3% 7.0
18.05% -1.71 0.67 19.1% 5.6% 2.7
8.79% -2.43 1.74 12.4% 29.2% 3.2
12.09% -2.11 0.83 16.4% 26.4% 3.1
13.51% -2.00 0.9 19.3% 30.0% 6.5
14.14% -1.96 1.23 18.0% 21.6% 6.5
15.23% -1.88 0.95 39.5% 61.4% 27.0
6.71% -2.70 0.82 10.3% 34.7% 1.2
4.19% -3.17 1.24 9.4% 55.5% 1.0
16.85% -1.78 0.5 22.5% 25.3% 14.7
4.13% -3.19 0.59 6.6% 37.1% 2.5
12.75% -2.06 0.9 15.6% 18.3% 1.7
11.11% -2.20 0.98 12.3% 9.6% 2.4
14.24% -1.95 1.52 16.3% 12.9% 6.6
6.52% -2.73 0.05 8.4% 22.7% 3.7
0.20% -6.19 0.38 31.4% 99.3% 8.1
12.23% -2.10 1.61 12.4% 1.0% 0.8
11.77% -2.14 1.18 13.7% 13.7% 1.1
13.57% -2.00 0.36 20.3% 33.3% 3.4
10.61% -2.24 1.35 21.2% 50.0% 15.7
7.61% -2.58 1.52 9.3% 17.8% 4.3
0.06% -7.38 1.16 13.4% 99.5% 11.9
17.67% -1.73 0.35 17.7% 0.0% 2.5
 13.08% -2.03 0.95 16.2% 19.2% 6.3

F Significance F
16.1407932468062 2.877E-08

P-value Lower 95%Upper 95%Lower 95.0%Upper 95.0%

0.333929972588626
0.611183485777493
0.416796702206034
2.58299637147559E-05
0.715102655778588
-13.64496 4.732833 -13.64496 4.73283347
-73.00571 43.41348 -73.00571 43.4134838
-2.587168 6.137082 -2.587168 6.13708152
35.37817 88.68338 35.37817 88.6833763
-16.00033 11.06443 -16.00033 11.0644301

s
PredictedP/BV BV per share Predicted Price
7.0395028399 101 709.65
1.0650970194 101 107.27
11.958873517 81 970.48
7.5312136629 70 529.78
9.4473522092 649 6,128.73
10.549380254 159 1,681.76
-0.9885097296 174 -171.95
4.958003046 92 454.47
6.0434773898 3,155 19,069.14
13.027382978 272 3,537.93
3.1525773293 174 547.79
24.822647972 38 930.91
10.054606429 32 325.72
13.264890748 2,521 33,444.37
3.5850034298 182 653.64
8.342198438 100 831.67
1.7456605321 507 885.25
8.1940441061 264 2,166.85
14.081963217 589 8,298.42
3.1206935271 223 694.91
11.945938701 148 1,763.75
41.165004926 31 1,287.67
11.241213887 85 955.95
6.5731369331 113 744.92
9.5320246239 297 2,833.40
14.183915675 184 2,611.45
8.5599657987 41 349.89
6.7842769124 113 763.39
5.3116167957 391 2,075.38
5.7620661945 231 1,331.56
7.3720583059 1,382 10,190.59
7.2852226292 45 326.72
18.943268035 355 6,720.60
2.5234983946 126 318.97
2.5994706724 178 463.34
8.3023980174 79 655.35
0.1397105575 1,158 161.82
5.4859036345 109 595.46
4.0272570833 463 1,865.99
6.9522942969 2,378 16,534.74
0.3368468806 157 52.81
14.21226498 430 6,106.91
5.2317466815 243 1,271.30
5.0248263291 426 2,142.23
6.9629352842 178 1,236.14
9.2943767966 59 549.17
3.4171122298 911 3,111.75
4.477350717 158 709.25
5.5105797253 107 588.28
 5.8666593878 80 470.43

pper 95.0%
Company Name Retention Ratio Payout ratio ROE Growth rate
Adani Ports and Special Economic Zone 93.1% 6.9% 17.4% 16.23%
Ambuja Cements Ltd 61.2% 38.8% 6.0% 3.66%
Asian Paints Ltd 45.5% 54.5% 26.5% 12.04%
Avenue Supermarts Ltd 66.7% 33.3% 17.8% 11.89%
Bajaj Auto Ltd 56.0% 44.0% 22.8% 12.77%
Bharat Petroleum Corp Ltd 50.8% 49.2% 22.7% 11.56%
Bharti Airtel Ltd 75.5% 24.5% 2.3% 1.77%
Bharti Infratel Ltd. 100.0% 0.0% 14.9% 14.88%
Bosch Ltd 66.2% 33.8% 14.6% 9.63%
Britannia Industries Ltd. 65.0% 35.0% 31.0% 20.14%
Cipla Ltd/India 88.4% 11.6% 12.4% 10.95%
Coal India Ltd 7.3% 92.7% 47.4% 3.44%
Dabur India Ltd 3.5% 96.5% 24.0% 0.84%
Eicher Motors Ltd 81.5% 18.5% 32.2% 26.30%
Gail India Ltd 69.0% 31.0% 11.5% 7.94%
Godrej Consumer Products Ltd 64.8% 35.2% 21.3% 13.82%
Grasim Industries Ltd 85.2% 14.8% 6.7% 5.68%
HCL Technologies Ltd 87.3% 12.7% 23.9% 20.83%
Hero MotoCorp Ltd 48.7% 51.3% 31.4% 15.30%
Hindalco Industries Ltd 92.6% 7.4% 8.4% 7.81%
Hindustan Petroleum Corp Ltd 45.1% 54.9% 26.8% 12.08%
Hindustan Unilever Ltd 18.6% 81.4% 76.6% 14.26%
Hindustan Zinc Ltd 62.1% 37.9% 24.8% 15.41%
Indian Oil Corp Ltd 39.8% 60.2% 17.8% 7.09%
Infosys Ltd 56.2% 43.8% 24.8% 13.93%
InterGlobe Aviation Ltd 31.5% 68.5% 31.7% 9.98%
ITC Ltd 27.7% 72.3% 21.8% 6.03%
JSW Steel Ltd 94.4% 5.6% 19.1% 18.05%
Larsen & Toubro Ltd 70.8% 29.2% 12.4% 8.79%
Mahindra & Mahindra Ltd 73.6% 26.4% 16.4% 12.09%
Maruti Suzuki India Ltd 70.0% 30.0% 19.3% 13.51%
Motherson Sumi Systems Ltd 78.4% 21.6% 18.0% 14.14%
Nestle India Ltd 38.6% 61.4% 39.5% 15.23%
NTPC Ltd 65.3% 34.7% 10.3% 6.71%
Oil & Natural Gas Corp Ltd 44.5% 55.5% 9.4% 4.19%
Pidilite Industries Ltd 74.7% 25.3% 22.5% 16.85%
Piramal Enterprises Ltd 62.9% 37.1% 6.6% 4.13%
Power Grid Corp of India Ltd 81.7% 18.3% 15.6% 12.75%
Reliance Industries Ltd 90.4% 9.6% 12.3% 11.11%
Shree Cement Ltd 87.1% 12.9% 16.3% 14.24%
Sun Pharmaceutical Industries Ltd 77.3% 22.7% 8.4% 6.52%
Tata Consultancy Services Ltd 0.7% 99.3% 31.4% 0.20%
Tata Motors Ltd 99.0% 1.0% 12.4% 12.23%
Tata Steel Ltd 86.3% 13.7% 13.7% 11.77%
Tech Mahindra Ltd 66.7% 33.3% 20.3% 13.57%
Titan Co Ltd 50.0% 50.0% 21.2% 10.61%
UltraTech Cement Ltd 82.2% 17.8% 9.3% 7.61%
V-Guard Industries Ltd 0.5% 99.5% 13.4% 0.06%
Wipro Ltd 100.0% 0.0% 17.7% 17.67%
Zee Entertainment Enterprises Ltd 80.8% 19.2% 16.2% 13.08%

SUMMARY OUTPUT

Regression Statistics
Multiple R 0.156728374212
R Square 0.024563783283
Adjusted R Square -0.03905162215
Standard Error 36.5340340633
Observations 50

ANOVA
df SS MS F
Regression 3 1546.142333 515.3808 0.386129478
Residual 46 61397.83967 1334.736
Total 49 62943.982

Coefficients Standard Error t Stat P-value

Intercept 12.90811197353 25.99407544 0.496579 0.621850816
Growth rate 34.91135976992 113.8355292 0.306682 0.760469051
Beta 10.24597220111 13.37080991 0.766294 0.447416067
Payout ratio 20.21652109788 23.55638168 0.858218 0.395221709

SUMMARY OUTPUT

Regression Statistics
Multiple R 0.168753393817
R Square 0.028477707925
Adjusted R Square -0.03488244156
Standard Error 36.4606642314
Observations 50

ANOVA
df SS MS F
Regression 3 1792.500335 597.5001 0.449457714
Residual 46 61151.48166 1329.38
Total 49 62943.982
 Coefficients Standard Error t Stat P-value
Intercept 14.82555178945 17.84628688 0.830736 0.410414009
Ln(Growth rate) -3.21734714645 6.082919867 -0.528915 0.599407533
Beta 8.551804509868 12.89616081 0.663128 0.510558177
Payout ratio 8.053576725383 25.2732682 0.31866 0.751426861
Ln(Growth rate) Beta Payout ratio Actual P/E Predicted PE EPS Predicted Price
-1.82 1.27 6.9% 22.50 32.97868379 18 579.53
-3.31 1.3 38.8% 28.70 35.35655482 6 213.20
-2.12 1.2 54.5% 62.70 40.42323866 21 867.89
-2.13 1.41 33.3% 119.90 38.24730993 13 480.01
-2.06 0.98 44.0% 17.50 36.29556086 148 5,366.86
-2.16 1.59 49.2% 9.70 43.17600956 36 1,565.35
-4.04 1.06 24.5% 179.80 29.34679897 4 119.60
-1.90 0.78 0.0% 21.70 26.09557986 14 355.99
-2.34 1.54 33.8% 41.40 38.8881125 459 17,853.72
-1.60 0.62 35.0% 77.30 33.37190616 84 2,809.23
-2.21 0.47 11.6% 36.40 23.88945622 22 513.94
-3.37 0.93 92.7% 24.20 42.38826673 18 754.10
-4.78 0.64 96.5% 53.30 39.26772959 8 305.16
-1.34 0.6 18.5% 37.60 31.96602702 813 25,988.24
-2.53 1.04 31.0% 17.70 32.60106596 21 683.64
-1.98 0.83 35.2% 49.70 33.36298517 21 709.92
-2.87 1.28 14.8% 25.00 30.99611461 34 1,047.88
-1.57 0.14 12.7% 15.00 24.17789212 63 1,525.09
-1.88 0.89 51.3% 17.70 37.74075204 185 6,987.14
-2.55 1.51 7.4% 7.70 32.61278798 19 613.04
-2.11 1.08 54.9% 6.20 39.29741317 40 1,555.32
-1.95 0.69 81.4% 72.60 41.40907728 24 992.18
-1.87 1.42 37.9% 12.91 40.50042248 21 854.61
-2.65 0.85 60.2% 7.40 36.26682293 20 732.53
-1.97 0.42 43.8% 18.30 30.93677154 74 2,280.90
-2.30 0.65 68.5% 25.63 36.90056348 58 2,152.54
-2.81 0.66 72.3% 31.83 36.39976157 9 324.34
-1.71 0.67 5.6% 12.30 27.20308563 22 585.24
-2.43 1.74 29.2% 23.40 39.70578031 49 1,925.84
-2.11 0.83 26.4% 15.08 30.96178746 38 1,174.72
-2.00 0.9 30.0% 35.10 32.90898326 267 8,778.08
-1.96 1.23 21.6% 40.11 34.80849045 8 281.41
-1.88 0.95 61.4% 77.24 40.37438056 140 5,653.25
-2.70 0.82 34.7% 12.15 30.65939208 13 398.12
-3.17 1.24 55.5% 9.64 38.29790559 17 643.21
-1.78 0.5 25.3% 57.39 29.02432314 18 516.63
-3.19 0.59 37.1% -82.07 27.9022573 76 2,123.68
-2.06 0.9 18.3% 12.19 30.28092624 17 513.08
-2.20 0.98 9.6% 20.33 28.77411134 57 1,638.87
-1.95 1.52 12.9% 49.61 36.0531589 389 14,008.66
-2.73 0.05 22.7% 64.32 20.28495074 13 268.03
-6.19 0.38 99.3% 27.44 36.95783869 135 4,986.05
-2.10 1.61 1.0% 19.30 33.87807439 30 1,017.23
-2.14 1.18 13.7% 4.97 31.88799822 58 1,855.84
-2.00 0.36 33.3% 16.82 28.05589734 36 1,012.37
-2.24 1.35 50.0% 70.29 40.55088557 13 508.22
 -2.58 1.52 17.8% 58.62 34.7361603 84 2,927.06
-7.38 1.16 99.5% 62.71 44.93831195 21 957.11
-1.73 0.35 0.0% 15.69 22.66233171 19 427.44
-2.03 0.95 19.2% 33.90 31.09930382 13 403.90

Significance F
0.76

Lower 95%Upper 95% Lower 95.0% Upper 95.0%

-39 65.23147202 -39.4152481 65.23147202
-194 264.0503954 -194.227676 264.0503954
-17 37.16001662 -16.6680722 37.16001662
-27 67.6330581 -27.2000159 67.6330581

Significance F
0.718884653364
 Lower 95% Upper 95%
Lower 95.0% Upper 95.0%
-21.0971605246 50.7 -21.0971605 50.7482641
-15.4616297749 9.03 -15.4616298 9.02693548
-17.4068208198 34.5 -17.4068208 34.5104298
-42.8188736025 58.9 -42.8188736 58.9260271