But in 2013 FRM was trading at around 15 cents a share, whilst the NTA per share was 40 cents according to Morningstar. In 2013 you were paying 38 cents for every $1 of company assets. Now though the book value is par, so its $1 for $1 of assets.
Although to be fair FRM's debt to equity ratio in 2013 was 72%, whilst its only 13% as of now. But as per my post, that debt to equity ratio may rise if FRM cannot generate increased cash from operations. & should that debt to equity ratio get higher, its more likely FRM will trade a discount to book value.
FRM Price at posting:
89.0¢ Sentiment: Sell Disclosure: Not Held
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