Hi Corporate
Here is my take (E&OE).
I hope it is useful.
Your calculation is in the ball park. Depends on source and timing of data.
Last years published result was exceptional, top and especially bottom line.
From the detailed tab on BHP at DB site.
My assumption is these are updated daily.
Total Issue: 3,211,496,105
Market Capitalisation: $110,957,190,428 (@3455)
Earnings/Share: 399.57 cents
Price/Earnings Ratio: 8.65
NTA per share 990 cents
From BHP annual report:
http://www.bhpbilliton.com/home/inve...nteractive.pdf
June 2110 Capitalisation $160 billion approx and June 2011 $233.9 billion.
PE Calculation is often based on average capitalisation for the year (160+233.9 / 2)
Reuters tab on DB site shows PE as 8.93.
BHP has been doing share buy backs and cancellations ( I think) and this impacts shares on issue.
So the PE is certainly less than 10 based on all of the above and your own analysis.
For the ASX competition run by Jenny I wanted either BHP or RIO in Dec 2010.
I chose RIO from my analysis at the time as the best performer recently.
RIO is down 27% approx in the competion.
If you look at 2 year super charts on DB comparing BHP, RIO and ASX200 you will see in the two years RIO peaked at + 45% (approx) in Feb/Apr in 2011, BHP peaked at plus 29% in April, ASX200 peaked at + 5% in May 2010 and April 2011.
RIO is for the two years now + 2%, BHP - 10% and ASX is -17%.
With current environment while BHP may look a buy the market seems unconvinced over recent months ...
However if you look at the candles over two years BHP is now at a two year plus low...
Is this the moment? <>