tarr

**vin** Wed Mar 16, 2005 11:08 am

tarr
blastinv, what is your look on tarr?

tarr , a fast growing homebuilder for 6x earnings of 2005 and estimate real-estate division worth $15+/share. The share price should be 4*6 +15 =37.

omebuilding 2001 2002 2003 2004 2005
Revenue 26.0 26.2 153.9 275 500
Gross profit 4.1 -2.7 30.0 65 124

Investment
Revenue 93.9 122.5 124.1 134 145
EBITDA 46.3 60.7 59.0 63 70

EPS $0.04 $0.32 $1.80 $2.50 $4.00

The cons are it's d/e is 5. but they are aggressively convert apartment into condo, which can both generate more profit and reduce debt.

**jeep** Wed Mar 16, 2005 11:12 am

Re: tarr
home builder... urrrh. its profit growth may not be sustainable.

vin wrote: blastinv, what is your look on tarr?

tarr , a fast growing homebuilder for 6x earnings of 2005 and estimate real-estate division worth $15+/share. The share price should be 4*6 +15 =37.

omebuilding 2001 2002 2003 2004 2005
Revenue 26.0 26.2 153.9 275 500
Gross profit 4.1 -2.7 30.0 65 124

Investment
Revenue 93.9 122.5 124.1 134 145
EBITDA 46.3 60.7 59.0 63 70

EPS $0.04 $0.32 $1.80 $2.50 $4.00

The cons are it's d/e is 5. but they are aggressively convert apartment into condo, which can both generate more profit and reduce debt.

**blast_investor** Wed Mar 16, 2005 11:54 pm

I am not very fond of home builders.

home building industry is cyclical that depend on low interest rate.
With rising interest rate outlook, I would avoid this sector.