TABLE OF CONTENTS
A Glimmer of Reason...............................................................4
EARNINGS Factors.................................................................10
Composite Forward Earnings Momentum (1Mth + 3Mth) ...11
Forward Earnings Momentum (1Mth Change) .....................12
Forward Earnings Momentum (3Mth Change) .....................13
Forward Earnings Mom (3Mth Chg) / Co-Efficient Of Var ...14
5 years Historical Earnings Growth......................................15
Forecast Earnings Growth FY1 to FY2 .................................16
Net Revisions to FY2 [Up-Down]/[Up+Down].......................17
Net Revisions to FY1 [Up-Down]/[Up+Down].......................18
PRICE Factors ........................................................................19
12 Mth Price Momentum ........................................................20
1 Mth Price Momentum ..........................................................22
3 Mth Price Momentum ..........................................................23
6 Mth Price Momentum ..........................................................24
RSI 10 day ...............................................................................25
Price Accel 6M ........................................................................26
Percent off 52 Week High ......................................................27
Composite Co-Efficient of Variation (Avg of FY1 and FY2) 29
Number of Consensus Estimates (FY1) ...............................30
Historical Return on Equity ...................................................31
Change in ROE Between Current and 12 Mths Prior...........32
Asset Turnover .......................................................................33
Sales Growth ..........................................................................34
Payout Ratio ...........................................................................35
Interest Cover .........................................................................36
12M Change in Asset Turnover.............................................37
Gearing....................................................................................38
12M Change In EBIT Margin ..................................................39
Altman Z score........................................................................40
Piotroski F score ....................................................................41
SENTIMENT Factors...............................................................42
Consensus Recom .................................................................43
1 Mth Change in Consensus Recom.....................................44
3 Mth Change in Consensus Recom.....................................45
Target Price 6 Month Momentum..........................................46
Sentiment Composite.............................................................47
VALUE Factors .......................................................................48
Historical P/Book Value Ratio ...............................................49
Historical P/Cash Earnings Ratio..........................................50
Historical Earnings Yield .......................................................51
1 year forward forecast PE ....................................................52
1 year forward forecast PE Relative to History....................53
1 year forward forecast PE Relative to Sector .....................54
Historical P/Sales Ratio .........................................................55
Cash Flow Yield Mean of FY1 and FY2.................................56
Historical Dividend Yield .......................................................57
EBITDA to Enterprise Value ..................................................58
Free Cash Flow to Enterprise Value .....................................59
BLENDED Factors ..................................................................60
Composite Value Momentum Quality Price Model ..............61
Q-Score Composite ................................................................62
Value to Risk...........................................................................63
Value to Growth......................................................................64
Composite Value ....................................................................65
Composite Momentum...........................................................66
Composite Price with 1M Reversion.....................................68
Composite Recom..................................................................69
Composite Value Momentum Model.....................................70
RISK Factors...........................................................................71
Success (Barra) ......................................................................72
Size (Barra) .............................................................................73
Volatility (Barra)......................................................................74
Value (Barra) ...........................................................................75
Liquidity ..................................................................................76
BETA........................................................................................77
Factor definitions ...................................................................78
Viewing the results.................................................................87
Universe & factor construction .............................................91
MSCI Asia Pac ex Jp Top 250 Stock Universe .....................92