Pengana International Equities Limited (ASX:PIA) GF Value Rank : 4 (As of May. 19, 2024)

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What is Pengana International Equities Limited GF Value Rank?

Pengana International Equities Limited has the GF Value Rank of 4.

The GF Value Rank is determined by the price-to-GF-Value (P/GF Value) ratio, a proprietary metric calculated based on historical multiples along with an adjustment factor based on a company's past returns and growth and future estimates of the business' performance.

GuruFocus found that for valuation, we cannot simply give stocks a better GF Value rank simply because they have a lower P/GF Value ratio. Backtesting shows that over the long term, the two worst-performing groups are the most expensive group (with the highest P/GF Value ratio) and the least expensive group (with the lowest P/GF Value ratio).

We can understand why the most expensive group underperforms. We were initially puzzled by the underperformance of the least expensive group, but we realized there is a reason why some stocks are super cheap. If they look too undervalued, it is often because the businesses behind them are poor quality. The market realized this and gave them low valuations. In a way, the market is efficient.

After multiple backtesting analyses, we granted the stocks in third-cheapest percentile the highest GF Value rank, as they have performed the best over a full market cycle. Stock performance is actually not as sensitive to valuation as it is to growth and profitability. On average, the companies in the 20%-50% valuation groups have similar performances. Therefore, we should avoid the most expensive and the least expensive stocks. We can be more tolerant of valuation.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Pengana International Equities Limited's GF Value Rank

For the Asset Management subindustry, Pengana International Equities Limited's GF Value Rank, along with its competitors' market caps and GF Value Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Pengana International Equities Limited's GF Value Rank Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Pengana International Equities Limited's GF Value Rank distribution charts can be found below:

* The bar in red indicates where Pengana International Equities Limited's GF Value Rank falls into.

Pengana International Equities Limited GF Value Rank Related Terms

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Pengana International Equities Limited (ASX:PIA) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

1 Farrer Place, Suite 1, Level 27, Grosvenor Phillip Tower, Sydney, NSW, AUS, 2000

Website

https://www.pengana.com

Pengana International Equities Limited, formerly Hunter Hall Global Value Ltd is an investment holding company investing in medium and long-term concentrated portfolio, predominantly in international and ASX listed securities. The company operates in one business segment, being an investment in securities. Its objective is to provide investors with superior returns over the medium to long term by investing in high-quality stocks that are perceived to be undervalued.

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