My High Dividend Stocks Blog http://myhighdividendstocks.posterous.com Most recent posts at My High Dividend Stocks Blog posterous.com Sun, 30 Oct 2011 16:10:38 -0700 Sprinting to bankrupcy unless Sprint (S) can profit? http://myhighdividendstocks.posterous.com/sprinting-to-bankrupcy-unless-sprint-s-can-pr http://myhighdividendstocks.posterous.com/sprinting-to-bankrupcy-unless-sprint-s-can-pr

A friend of mine recently tweeted that he thought that Sprint Nextel (S) should be bought because he believes it hit the bottom three days ago at $2.39 per share.  I haven’t paid much attention to Sprint because it hasn’t paid a dividend since the end of 2007.  Sprint does not know how to earn profits; it only knows how to lose less than in previous years.  Their only hope is their pricing of plans and customer service because AT&T and Verizon both offer 4G & 4G LTE network services, and they both offer iPhone 4 and iPhone 4S smartphones on their networks.

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Sprint Nextel (S)

Share price: $2.72

Shares: 2.996 billion

Market capitalization: $8.14 billion

Bonds: $18.5 billion

It amazes me that Sprint went from $1.35 in November 2008 to $6.45 May 2011.  There is a lot of speculating going on in this stock because the fundamentals are just plain horrible.

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DIVIDEND RECORD

Sprint has not paid a dividend since the end of 2007.  It paid an annual dividend of $0.50 from 2001 to 2004, then it cut its dividend to $0.30 in 2005, and in 2006 – 2007 it cut the dividend to $0.10 annually.  Sprint offers no current income to its remaining shareholders.

EARNING POWER

                EPS                         Net inc.                Shares                  Adj EPS

----------------------------------------------------------------------------

2006       $0.45                     $1,327 M              2,972 M                $0.44

2007       ($10.27)                ($29,580 M)        2,898 M                ($9.89)

2008       ($0.98)                  ($2,796 M)          2,863 M                ($0.94)

2009       ($0.84)                  ($2,436 M)          2,886 M                ($0.81)

2010       ($1.16)                  ($3,465 M)          2,988 M                ($1.16)

2011E    ($0.93)*               ($2,786 M)          2,996 M                ($0.93)

*mean loss according to Wall Street estimates I looked up on Morningstar.com

Sprint would have to lose $0.40 per share in 4Q2011 to meet the mean Wall Street estimates.  I don’t think that will happen since the iPhone 4 users start adding to Sprint’s revenues in 4Q2011.  I think Wall Street analysts have set the bar so low than even Sprint can beat their estimates.

Results from the first three quarters of 2011:

1Q          ($0.15)                  ($439 M)              2,992 M                ($0.15)

2Q          ($0.28)                  ($847 M)              2,994 M                ($0.28)

3Q          ($0.10)                  ($301 M)              2,996 M                ($0.10)

----------------------------------------------------------------------------

Total      ($0.53)                  ($1,587 M)          2,996 M                ($0.53)

Six year average adjusted earnings per share is ($2.22).  I wouldn’t buy Sprint until it becomes profitable for several years.

BALANCE SHEET

Sprint’s balance sheet is frightening.  Assets are falling more than liabilities, so equity keeps disappearing.  It will be interesting to see

Image009

Book value per share: $4.35 as of 3Q2011

Price to book value: 0.625 (this is good, but book value keeps shrinking)

Current ratio: 1.12 (over 2.0 is good)

Quick ratio: 0.49 (over 1.0 is good)

CONCLUSION

Sprint offers no dividend, no profits, and shrinking shareholder equity.  These three facts do not add up to safety of principal and a satisfactory return.  The purchase of Sprint at $2.72 per share is speculative.  AT&T (T) and Verizon (VZ) offer high dividends, profits, and increasing shareholder equity.

Almost everyone who has bought Sprint stock in the past 12 years has lost large amounts of money.  This company has forgotten how to make money.  It will take a few profitable years and some hefty dividends to attract me to their stock.  Sprint offers no safety of principal with its horrible yearly losses and the bad economic backdrop.  What is their unique selling proposition?  As best I can tell it is the download speed of their 4G network.  They claim it is up to 10x faster than their 3G service.  AT&T and Verizon both make the same claims.  Perhaps they have the largest 4G network, but that doesn’t come across in their advertisements.  It will take huge infrastructure costs to build out their 4G network.  The large yellow circles mask the smallness of their 4G network.  I’m not impressed after visiting the Verizon and AT&T websites to examine their 4G offerings.  Sprint is sprinting to bankruptcy.

Image012

For example, there are many areas in Denver that you would only get good 4G service while outside on the street.  Most people are inside their work locations most of the day.

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DISCLOSURE  I don’t own Sprint Nextel (S)

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http://files.posterous.com/user_profile_pics/697493/v_for_vendetta_guy_fawkes_mask11.jpg http://posterous.com/users/4wuf4tt8LZzb Jason Brizic myhighdividendstocks Jason Brizic
Thu, 20 Oct 2011 21:41:24 -0700 Buyback Blowback at Kodak. http://myhighdividendstocks.posterous.com/buyback-blowback-at-kodak http://myhighdividendstocks.posterous.com/buyback-blowback-at-kodak
I haven't finished my analysis of Safe Bulkers' (SB) third quarter financials.  So here is a good article that I read on the demise of Kodak.  Mr. Englund thinks that it would have been wiser for past Kodak executives not to have bought back shares (I agree) and not to pay dividends (I don't agree).  There is no evidence that Kodak would have innovated and adapted just because they would have had more capital.  The owners of the company (the shareholders) should be rewarded with 50% to 80% of the profits of the company.  The other 50% to 20% should be retained for innovation to gain market share.

I have a HD Kodak Zi-8 pocket camcorder which includes an external microphone jack.  I will use this to produce videos for this website.  Their external microphone jack was unique to Kodak, but they didn't advertise this product effectively.

There are a lot of companies buying back shares with the money they could use to improve their marketing and advertising.  Their buybacks will turn out to be a waste of money when the double-dip recession hits in full force.  Let Kodak be a lesson for them.

* * * * * * * * * *

Buyback Blowback at Kodak

by Eric Englund

Recently by Eric Englund: The New York Times Company Is Still Insolvent

 

   

The employment of more and better tools is feasible only to the extent that the capital required is available. Saving – that is, a surplus of production over consumption – is the indispensable condition of every further step toward technological improvement. Mere technological knowledge is of no use if the capital needed is lacking. ~ Ludwig von Mises

Eastman Kodak Company (EKC) has become another poster child pertaining to the foolishness of stock buybacks. With EKC’s roots going back to 1880, this company has been a world leader in photographic film and camera sales for well over a century. Keys to Kodak’s past success include research, development, innovation, and a keen focus on customer satisfaction. Success, however, can breed failure. EKC’s tremendous profitability, during the twentieth century, didn’t prepare it for the digital revolution. Over the years, EKC bought back billions-of-dollars worth of its common stock. Kodak’s top management, to be sure, would love to have this money back as EKC’s executive team has not yet developed a business model allowing it to profitably transition from an "analog" to a digital company. I fear time and cash are running out for this iconic company and bankruptcy is looming on the horizon.

A Brief History Of Eastman Kodak Company

George Eastman was a high school dropout who built an incredibly successful multi-national corporation. The company he founded, and which flourished under his leadership, is Eastman Kodak Company. George Eastman became interested in photography in 1878; and his vision, of bringing photography to the masses, came into focus over time. A few months before his 26th birthday, in April of 1880, Eastman founded a business to mass-produce photographic dry plates. Within five years, Eastman introduced the first transparent photographic film and this became a highly profitable product for the company. In 1888, the Kodak camera was introduced using the slogan "You press the button – we do the rest." George Eastman stated his objective was "…to make the camera as convenient as the pencil." In doing so, amateur photography became a growth industry with Kodak leading the way. Through continuous research and development, by 1900, Kodak introduced the Brownie camera; which sold for $1 and used film that sold for 15 cents per roll. This camera was highly popular and it launched Kodak, into the twentieth century, as the industry leader in both photographic film and cameras.

George Eastman’s Business Principles and Policies

Not only was George Eastman a visionary inventor and entrepreneur, he was a hard-working and astute businessman capable of successfully building a global business enterprise. Along these lines, Eastman Kodak Companyprovides the following information about its esteemed founder:

Eastman built his business on four basic principles:

  • Mass production at low cost
  • International distribution
  • Extensive advertising
  • A focus on the customer

He saw all four as being closely related. Mass production could not be justified without wide distribution. Distribution, in turn, needed the support of strong advertising. From the beginning, he imbued the company with the conviction that fulfilling customer needs and desires is the only road to corporate success.

To his basic principles of business, he added these policies:

  • Foster growth and development through continued research
  • Treat employees in a fair, self-respecting way
  • Reinvest profits to build and extend the business

George Eastman died in 1932. His principles and policies provided a foundation upon which to build continued success.

When examining Eastman’s policy of reinvesting profits to build and extend the business, it is self-evident he desired to build Kodak’s financial strength through retaining profits. A strong balance sheet allows a company to fund research and development in order to develop new products and services to fulfill customer needs and desires. Sound financial management goes hand-in-glove with retaining market leadership.

Eastman’s policy of financial conservatism was not adhered to by executives who succeeded him; and it shows.

Kodak Is On The Brink Of Bankruptcy

Initially, it may be difficult to grasp that Kodak is on the verge of bankruptcy. Well, during fiscal-year 2010, Kodak suffered a net loss of $687 million and saw its net worth drop to negative $1.075 billion – yes, Kodak has a negative net worth. EKC’s management understands it is in serious financial trouble and stated the following in the 2010 Annual Report:

Our business may not generate cash flow in an amount sufficient to enable us to pay the principal of, or interest on, our indebtedness, or to fund our other liquidity needs, including working capital, capital expenditures, product development efforts, strategic acquisitions, investments and alliances, and other general corporate requirements. Our ability to generate cash is subject to general economic, financial, competitive, litigation, regulatory and other factors that are beyond our control. We cannot assure you that:

  • our businesses will generate sufficient cash flow from operations;
  • our plans to generate cash proceeds through the sale of non-core assets will be successful;
  • we will be able to repatriate or move cash to locations where and when it is needed;
  • we will realize cost savings, revenue growth and operating improvements resulting from the execution of our long-term strategic plan; or
  • future sources of funding will be available to us in amounts sufficient to enable us to fund our liquidity needs.

These are not words spoken by an upbeat executive management team looking toward a bright future in the digital age. Management has acknowledged EKC is in deep trouble; yet they won’t tell you it is financial mismanagement that has taken this company to a state of insolvency.

How Kodak Got Into This Financial Mess

A fundamental reason Kodak has fallen into financial distress is that, over the past decades, management had not adhered to George Eastman’s policy of reinvesting profits to build and extend Kodak’s business. Stock buybacks, in fact, are the polar opposite of this reinvestment policy. Share repurchases inherently deplete cash, working capital, and equity. Such capital depletion has deprived EKC’s management of the funds needed to support the implementation of a business model allowing Kodak to transition to a profitable digital imaging company.

Over the five-year period of 2000 to 2004, Kodak generated net earnings of $3.062 billion; and EKC turned a profit in each of these five years. Moreover, at fiscal year-end (FYE) 2004, Kodak’s retained earnings position stood at $7.922 billion; which is a pretty stout number. At fiscal year-end 12/31/04, EKC’s financial condition was sound.

Kodak, by 2005, had become the leading seller of digital cameras in the United States. In fact, for Kodak, digital camera sales amounted to $5.7 billion in 2005; which was fully 50% of the company’s sales volume that year. In spite of Kodak’s No. 1 ranking, in U.S. digital camera sales, this company suffered an operating loss of $1.073 billion in 2005. It is clear this is the year in which Kodak hit the tipping point where its margin-rich, film-based photography business had been displaced by digital imaging; a commoditized business with thin margins. With digital cameras yielding slim profit margins, it is no wonder Kodak’s CEO – Antonio M. Perez – called them a "crappy business".

For Kodak, indeed, digital imaging has been a crappy business; as EKC has not turned an operating profit since 2003 (2004 was a profitable year due to significant earnings from discontinued operations). Over the past six years, Kodak has lost $2.525 billion. Retained earnings, by fiscal year-end 2010, had declined to $4.969 billion.

If Kodak had a positive retained earnings position of $4.969 billion, at fiscal year-end 2010, then how did it have a net worth of negative $1.075 billion? Over the decades, after all, Kodak had been a very profitable company and had built up a substantial retained earnings position. A quick perusal of Kodak’s FYE 2010 balance sheet provides an answer to this question. With $5.994 billion of treasury stock (a contra-equity balance sheet entry) leaping off of the balance sheet, it is unmistakable that stock buybacks have played a significant role in depleting Kodak’s cash, working capital, and equity over the years. When a corporation’s treasury stock position exceeds its retained earnings by over $1 billion, it shouldn’t be a surprise to see a company with a negative net worth.

Kodak’s dividend payouts, most certainly, haven’t served to preserve the company’s capital base either. From 2000 through 2008, Kodak paid out $2.757 billion in dividends; while no dividends were paid in 2009 and 2010. During the five-year span of 2004 through 2008, in which Kodak suffered an operating loss each year, this company paid out $714 million in dividends. EKC’s executives, undoubtedly, would love to have this money back almost as much as they wish the company had never engaged in stock buybacks.

Conclusion

The future is uncertain; hence it is impossible to foresee what twists and turns a business may encounter while attempting to remain on a path of customer satisfaction and profitability. Technology evolves rapidly while consumer tastes are ever changing. As Kodak has discovered, it must still develop a viable business model in order for the company to survive in the new era of digital imaging.

Kodak’s management has also discovered that reinventing their company has become a time consuming and expensive undertaking; and they are rapidly running out of money. For the very reason that the future is uncertain, Kodak should never have engaged in the financially-draining practice of stock buybacks. If Antonio M. Perez could wave a magic wand and receive back the $6 billion Kodak squandered in share repurchases, you’d witness a CEO waving his arms wildly. Kodak, accordingly, would suddenly regain the needed capital to continue the search for its own unique path to profitability in this uncertain world. Alas, it isn’t so.

Kodak’s stock, today, is selling for $1.27 per share. It once sold for $95 per share; so much for the assertion that share repurchases enhance shareholder value. I’ve never understood how people can believe weakening a company’s balance sheet, via stock buybacks, improves the value of a company.

Following all of George Eastman’s principles and policies would have prevented Kodak’s unfolding financial disaster.

October 19, 2011

Eric Englund [send him mail], who has an MBA from Boise State University, lives in the state of Oregon. He is the publisher of The Hyperinflation Survival Guide by Dr. Gerald Swanson. He is also a member of The National Society, Sons of the American Revolution. You are invited to visit his website.

Copyright © 2011 Eric Englund

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Tue, 16 Aug 2011 13:24:42 -0700 Don't be aggressive buying (AGRO). Patience, please. http://myhighdividendstocks.posterous.com/dont-be-aggressive-buying-agro-patience-pleas http://myhighdividendstocks.posterous.com/dont-be-aggressive-buying-agro-patience-pleas

I’m looking for bull markets within the secular bear market.  Precious metals and food commodities come to mind.  There are no high dividend food stocks, but there are some food commodity ETFs and some food production companies.  One of those companies is Adecoagro (AGRO).  The bottom line is AGRO should not be purchased until they can prove they can earn profits.  This company has good potential, so don’t stop reading yet.  They produce crops that people will buy in boom times or bust.  I think the bust will continue plus massive doses of price inflation.

Adecoagro S.A. is an agricultural company in South America, with operations in Argentina, Brazil and Uruguay. It is engaged in a range of businesses, including farming crops and other agricultural products, cattle and dairy operations, sugar, ethanol and energy production and land transformation. As of September 30, 2010, it owned a total of 287,884 hectares, consisted of 21 farms in Argentina, 15 farms in Brazil and two farms in Uruguay. As of September 30, 2010, it owned and operated several agro-industrial production facilities, including three rice processing facilities in Argentina, a dairy operation with approximately 4,500 milking cows in Argentina, two coffee processing plants in Brazil, seven grain and rice conditioning and storage plants in Argentina and two sugar and ethanol mills in Brazil with a sugarcane crushing capacity of 5.2 million tons. It is engaged in three businesses: farming business; sugar, ethanol and energy business, and land transformation business.

The socialist government of Argentina might pass a law restricting foreign ownership of agricultural lands.  This doesn’t help AGRO attract foreign capital to buy new properties and businesses in Argentina.  The CEO explained in the recent conference call that they are going to expand in Brazil and Uruguay where the governments are less hostile.

To hear the recent earnings conference call click on the 1Q11 Webcast button on this site http://ir.adecoagro.com/adecoagro/web/default_en.asp?idioma=1&conta=44

Adecoagro (AGRO)

Market price: $10.12

Shares: 108.87 million

Market capitalization: $1.101 billion

Image002

Dividend record: None.  The company has never paid a dividend.

Earning power: Since 2007 AGRO has an average adjusted earning power of ($0.07) per share.  The company has lost money the last three out of four years.  I only like profitable companies.  It will be interesting to see if AGRO can start producing profits in the next two years.

(Earnings adjusted for changes in capitalization.  Adjusted EPS based on 108.87 million shares)

            EPS                   Net inc.             Adj. EPS            Shares

2006

2007     $0.20                $29.170 M         $0.27                144.105 M

2008     ($0.09)             ($19.334 M)       ($0.18)             204.279 M

2009     ($0.01)             ($0.26 M)          ($0.002)            228.05 M

2010     ($0.36)             ($43.904 M)       ($0.40)             121.667 M

Four year average adjusted earnings per share ($0.07)

Consider buying below $6.51 (less than the 2010 shareholder equity without the recent secondary equity offering)

Consider selling above $9.00 (the current book value per share including the money from the recent secondary offering)

Balance sheet: Up from its purchases of farmland

Image004

Book value per share: $9.00 (TTM and most of it from the recent secondary equity offering)

Price to book value ratio: 1.12 (good)

Current ratio: 2.89 (over 2.0 is good)

Quick ratio: 2.17 (over 1.0 is good)

Disclosure: I don’t own Adecoagro (AGRO) and I won’t until it is profitable without equity offerings.  This one is going on my watch list at $5.00 per share

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Wed, 03 Aug 2011 13:43:47 -0700 A First Look at VeriSign (VRSN) http://myhighdividendstocks.posterous.com/a-first-look-at-verisign-vrsn http://myhighdividendstocks.posterous.com/a-first-look-at-verisign-vrsn

A friend asked me to take a look at VeriSign (VRSN).  This stock has paid some recent special dividends that were quite high yielders.  For those of you who are not familiar with VeriSign here is what the company does to earn money:

VeriSign, Inc. is a provider of Internet infrastructure services. It provides domain name registry services and infrastructure assurance services. Its business consists of Naming Services segment, which consists of Registry Services and Network Intelligence and Availability (NIA) Services. Registry Services operates the authoritative directory of all .com, .net, .cc, .tv, and .name domain names and the back-end systems for all .jobs and .edu domain names. NIA Services provides infrastructure assurance to organizations and is consisted of VeriSign iDefense Security Intelligence Services, Managed Domain Name System Services and Distributed Denial of Service mitigation. On August 9, 2010, it sold its Authentication Services business, which included Business Authentication Services, User Authentication Services and its investment in VeriSign Japan K.K. In November 2010, it ceased the operations of its Content Portal Services business.

VeriSign (VRSN)

Market price: $29.99

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Link to the chart: http://stockcharts.com/h-sc/ui?s=VRSN&p=W&b=5&g=0&id=p95244304300

Shares: 166.40 million

Market capitalization: $4.99 billion

Dividend record: Some hefty special dividends in the past 18 months; no quarterly dividend

Dividends:          $3.00 (8.79% yield) December 16th, 2010

                        $2.75 (7.93% yield) May 5th, 2011

                        $3.00 (8.78% yield) December 20th, 2011

Earning power: $1.12 per share five year average adjusted EPS @ 166.40 million shares

(Earnings adjusted for changes in capitalization)

            EPS                   Net inc.             Adj. EPS

2006     $1.53                $383 M              $2.30

2007     ($0.63)             ($149 M)           ($0.90)

2008     ($1.87)             ($374 M)           ($2.25)

2009     $1.28                $246 M              $1.48

2010     $4.64                $831 M              $4.99

Five year average adjusted EPS was $1.12 per share

Consider buying VRSN below $13.44 per share (12 times average earnings)

Consider selling VRSN above $22.40 per share (20 time average earnings)

VRSN is trading at 26.77 times average earnings.  That pricing is speculative.

Balance sheet: That is a hideous balance sheet that shows no pattern of growing equity!

Image004

Book value per share: $3.13

Price to book value ratio: 9.58 (BAD)

Current ratio: 2.34 (GOOD) Current assets exceeds current liabilities by more than double.

Quick ratio: 2.16 (GOOD) Current cash exceeds current liabilities by more than double.

Disclosure: I don’t own VeriSign (VRSN).  I wouldn’t consider buying it above $13.44 per share.

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http://files.posterous.com/user_profile_pics/697493/v_for_vendetta_guy_fawkes_mask11.jpg http://posterous.com/users/4wuf4tt8LZzb Jason Brizic myhighdividendstocks Jason Brizic
Wed, 13 Jul 2011 22:49:22 -0700 How in the world can Cramer recommend Netflix @ $298.73/share? http://myhighdividendstocks.posterous.com/how-in-the-world-can-cramer-recommend-netflix http://myhighdividendstocks.posterous.com/how-in-the-world-can-cramer-recommend-netflix

I watched portions of Jim Cramer’s Mad Money show tonight.  He was positive on Netflix (NFLX).  I wondered to myself how much Netflix earned per share and if it paid a dividend.

Sadly, Netflix does not pay a dividend.  It has never paid a dividend.

Earning power:  NFLX has earned an average of $1.80 per share over the past five years.

            EPS       Net inc.             Adj. EPS

2006     $0.71    $49 M                $0.93

2007     $0.97    $67 M                $1.27

2008     $1.32    $83 M                $1.57

2009     $1.98    $116 M              $2.19

2010     $2.96    $161 M              $3.04

Five year average earnings equals $1.80 per share

Consider buying at or below $21.60 per share (12x average earnings)

Consider selling at or above $36.00 per share (20x average earnings)

The market price of Netflix is $298.73 is trading at 165.96 times average earnings.  This is delusional speculation.  Netflix would not be a value stock unless it was earning $24.98 per share.  ($298.73/12 = $24.98)

Balance sheet: Netflix has a weak balance sheet.  Shareholder equity peaked in 2007.

Image001

Book value per share: $5.09

Price to book value: 58.69 (Oh my gosh!!)

Current ratio: 1.47 (over 2.0 is good)

Quick ratio: 0.70 (over 1.0 is good)

Conclusion: Netflix is speculatively priced.  Don’t buy it.

Disclosure: I don’t own Netflix (NFLX).

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http://files.posterous.com/user_profile_pics/697493/v_for_vendetta_guy_fawkes_mask11.jpg http://posterous.com/users/4wuf4tt8LZzb Jason Brizic myhighdividendstocks Jason Brizic
Tue, 07 Jun 2011 20:50:26 -0700 Should you buy Ford as Jim Cramer recommends? http://myhighdividendstocks.posterous.com/should-you-buy-ford-as-jim-cramer-recommends http://myhighdividendstocks.posterous.com/should-you-buy-ford-as-jim-cramer-recommends
Ford_balance_sheet_2006-2010

Jim Cramer was promoting Ford (F) on his Mad Money show tonight.  The Ford CEO has flowery things to say.  His company doesn't know how to make money.  Here is a quick valuation of Ford for those curious investors that are considering the non-dividend paying Ford.
 
Ford (F)
Market price: $13.95
Shares: 4.178 billion (diluted in 2010)
 
Dividend record
Dividend: none since 2006
Dividend yield: n/a
 
Earning power
5 yr average earnings: ($1.00)
10 yr average earnings: ($0.51)
Earnings are adjusted for changes in capitalization; Ford has been issuing shares for the last five years
          EPS      Net inc.         Adj. EPS
2006   ($6.72)   ($12,629 M)   ($3.02)
2007   ($1.38)   ($2,723 M)     ($0.65)
2008   ($6.50)   ($14,766 M)   ($3.53)
2009   $0.86     $2,717 M       $0.65
2010   $1.66     $6,561 M       $1.57
 
Ford has no proven earning power even when going back 10 years.
 
Balance sheet: declining assets, declining liabilities, and a slightly negative shareholder equity
Book value per share: ($0.16)
Price to book value per share: n/a because it is a negative number
Current ratio: 2.17 (over 2.0 is good)
Quick ratio: 2.07 (over 1.0 is good)
 
Conclusion: Ford pays no dividend and it is speculatively priced.  Don't buy Ford.  There are many better high dividend stocks like Safe Bulkers (SB).
 
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http://files.posterous.com/user_profile_pics/697493/v_for_vendetta_guy_fawkes_mask11.jpg http://posterous.com/users/4wuf4tt8LZzb Jason Brizic myhighdividendstocks Jason Brizic