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Bullboard - Stock Discussion Forum Clarke Inc CLKFF


Primary Symbol: T.CKI

Clarke Inc. is a Canada-based investment and real estate company with holdings in a diversified group of businesses and across real estate sectors. The Company is focused on evaluating the acquisition, retention and disposition of its holdings. The Company operates through two segments: investment and hospitality. The investment segment represents the Company's ferry business, investment... see more

TSX:CKI - Post Discussion

Clarke Inc > Price to book
View:
Post by Torontojay on Sep 14, 2021 5:44am

Price to book

Historically Clarke has always traded at around a price to book ratio of 0.85. Today, you can purchase shares at about 0.66 times book value. If it gets back to its historical average we should be at $ 11.46. 

Since 2002, the company has increased its book value per share + cumulative dividend growth of 12.3% per year. Book value per share has increased by 9.3% per year. If the company can continue to grow its book value per share at 9.3% for the next 5 years then I can conclude the following; 

1) I may earn 9.3% on my money excluding dividends and about 12.3% on my money including dividends if the company maintains a price to book value of 0.66. 

2) I will double my money excluding any future dividends if the company can continue to grow its book value by 9.3% per year and trade at a price to book value of 0.85. 

Not a bad deal. In a worse case scenario I will likely earn double digits on my investment. In a best case scenario I should at least double my money in 5 years excluding any future dividends.

Comment by SusanBolland on Nov 16, 2021 4:18pm
Comment by SusanBolland on Jan 04, 2022 8:39am
Comment by Torontojay on Feb 02, 2022 7:23pm
It looks like we are right around its historical price to book ratio. 
Comment by Paddy902 on Feb 16, 2022 10:05pm
I hate to admit I sold a few shares at $12 simply as this was becoming too large a position....but heck with this drop, I'm inclined to buy them right back again. Trican having a nice run. This really not a name for trading, but to accumulate at this level relative to book is a good deal. 
Comment by Torontojay on Mar 23, 2022 5:28pm
If you were to fairly value their real estate position which is worth well over one hundred million, then I would say that there's more appreciation ahead.  We are trading at about 85-90% of book value but much less according to my estimated market value for these assets. Given the rise in real estate and the increase in oil, I would say they could sell off these assets and return at ...more  
Comment by Torontojay on Jun 02, 2022 5:05pm
Currently at a price to book of ~ 0.72 which is historically at around 85% of book value. The company is worth a heck of a lot more than its book value. This is about a 15% discount to where it should be at.  Great little company.   
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