BuyandHold and Mvanle,Your valuations methods are not much...

BuyandHold and Mvanle,

Your valuations methods are not much different from the common EPS*(PE_Ratio) approach.

By definition

ROE (Return on Equity) x EQPS (Equity per share)
= Return per Share
= EPS (Earnings per Share)

so your Valuation = (ROE/RRR)*EQPS = EPS x (1/RRR)

The only difference is that you used the factor (1/RRR), which is fixed to 13.3 or 10, instead of the factor of PE_Ratio, which is a variable for different stocks/sectors.

More importantly, all these valuations depend on what EPS or ROE vulues you use. The true value should be determined by future EPS or ROE rather than those in the past. As GTP's EPS in FY2008 and FY2009 would likely be negative, thus its share value would only be minimal (if not negative according to those formulae).