GLEN ARNOLD INVESTMENTS
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MS International -  A valuation using return on net tangible assets

12/1/2021

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MS International (LSE:MSI) has a very strong balance sheet and decent profits history.  But what about the relationship between the two?  Given the large amount of net assets devoted to the operating business, does it generate a good rate of return on the money invested?
With a Warren Buffett-style investment I expect to hold “forever”.  In the long run a share will not generate a good rate of return for the shareholder if the rate of return on assets used within the business is poor. 
We are looking for double-figure percentage return at the very least. Preferably high teens or twenties.
Over a long period the rate of return on assets determines the rate of return on shares held.
 
£’000s  Year end April 2020     2019  2018   2017  2016
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    Prof. Glen Arnold

    I'm a full-time investor running my portfolio from peaceful Leicestershire countryside. I also happen to be UK´s best selling investment book author and a Financial Times Best selling author.

    Originally, I wrote all my ideas out in full on this website. Now that ADVFN publish them they are entitled to display the full version for six months – you can see them here. Thus can I only post the first few paragraphs here for anything younger than six months.

    I write 2 to 3 newsletters per week - investing is about making the right decisions, not many decisions.

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  • About
  • Newsletter
  • Books
    • My Books
    • Other Books
  • Blog
  • Portfolio
    • Buffett-style
    • Modified price earnings ratio
    • Net Current Asset Value
  • Resources
    • glossary of investment terms >
      • A - B
      • C
      • D - E
      • F - G
      • H - I - J - K
      • L - M - N
      • O - P
      • Q - R
      • S
      • T - U - V - W - Y - Z
    • TOP 10 TIPS FOR INVESTORS