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Stock Valuation at Ragan Inc

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10/20/2011
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Stock Valuation at Raglan, Inc.





1 76.68

2 28.54

3 a 12.16%

b 16.89%

c Yes, because the growth rate and EPS of Ragan is substantially higher than the

industry average at this point in the company's history.

4

5

6

Stock Valuation at Raglan, Inc.



Entity EPS DPS Stock Price ROE R

Ragan Inc. $ 4.54 $ 1.26 $ 76.68 25.00% 20.00%

Arctic Cooling Inc. $ 0.79 0.20 14.18 10.00% 10.00%

National Heating & Cooling $ 1.38 0.62 11.87 13.00% 13.00%

Expert HVAC Corp.* $ 1.06 0.38 13.21 14.00% 12.00%

Industry Average* $ 1.94 0.62 28.99 15.50% 13.75%

Industry AVG w/o Ragan* 1.08 0.40 13.09 12.33% 11.67%

*Corrected, See below



Expert Corp Original (0.48)

AVG uncorrected w/o Ragan 0.56



Industry AVG Growth Rate 7.75 1.18 1.26 1.49

Ragan Growth Rate 18.06 1.76

Ragan Retention Ratio 72.25 2.07

Industry AVG Retention Ratio 62.85 2.45

Industry P/E Ratio 12.15 2.89

Ragan P/E Ratio 16.89 3.41


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