希密哥证券公司，泰股网上交易

QUOTE
The current priced for buying and selling a share offered by a market maker.

Return on Assets (ROA)
The rate of investment return a company earns on its assets. ROA is determined by dividing net income from the past 12 months by total assets. The result is shown as a percentage. Unlike ROE, ROA ignores a company's liabilities.

Return on Equity (ROE)
The rate of investment return a company earns on shareholders' equity. An indicator of profitability, ROE is determined by diving net income from the past 12 months by shareholders' equity. This statistic shows how effectively a company is using its investors' money. Contrast with ROA.

Revenues
Revenues include all net sales of the company plus any other revenues associated with the main operations of the business (or those labeled as operating revenues). It does not include not include dividends, interest income or non-operating income.

REVERSE YEILD GAP
The difference between the return on shares and the return on fixed interest investments. Shares used to yield more than gilts because they were considered riskier investments. Inflation has reversed that assumption - fixed-interest investments now yield more than equities.

Rolling Settlement
means that shares have to be paid for within a certain number of days following each transaction. This will replace the traditional Stock Exchange ACCOUNT system.

SETTLEMENT DAY
is the date when Stock Exchange transactions must be paid for or settled.

Share Outstanding
Share of common stock that are currently owned by investor.

Shorts
Market term for gilts (government securities) that have less than five years to go before repayment.

Stockbroker
Someone who buys and sells shares and other Stock Exchange securities on behalf of clients.

Suspension
Trading in a share can be halted by the Stock Exchange - a company might ask for a temporary suspension of dealings - if a takeover bid is under discussion for instance. Sometimes a suspension means bad news is on the way.

TENDER
A way of auctioning shares or gilt-edged securities to the highest bidders. A guide is announced - then investors have to make up their own minds how much to offer for the amount of stock they want.

Total Assets
Total current assets plus total non-current assets. Non-current assets include property, plant and equipment, and other non-current receivables and investments.

Total Liabilities
Total current liabilities plus long-term debt and deferred income taxes.

Total Return
The price change plus dividend return for a stock over the last 12 months or three years (whichever is indicated).

Touch
Competing market makers quote slightly different prices for a share. The TOUCH is the difference between the best bid price and the lowest offer price.

Trailing P/E Ratio
The ratio of a stock's latest closing price divided by earnings per share based on the last reported 12 months of earnings. Companies with negative earnings receive an "NE". See Net EPS.

UNDATED SECURITIES
have no repayment date. War Loan is one example.

Volume
The total number of shares traded of a stock during a specific time period. (In this case, it is the latest trading day). Unusually high volume days typically correspond with the announcement of company news, either positive or negative. In the absence of news, high volume can indicate institutional (or professional) buying and selling. See average volume.

WORKING CPAITAL
is the cash needed to finance the everyday running of a business such as the payment of salaries and the purchase of raw materials. Most companies that go bust do so because a shortage of working capital leads to a CASH FLOW CRISIS.

YIELD
is the annual rate you get on an investment through payment of dividends or interest.

ZERO-COUPON BONDS
do not pay interest. They are issued at a deep discount to the redemption price so that the investor receives the return in the form of capital gain rather than income.

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HEDGE
An investment that gives protection - against inflation, for instance, or currency risks

INDEX-LINDED
means the return from an investment will reflect the official trend in price inflation

Insider Dealing
If directors, stockbrokers, others close to the company or members of the public deal in its shares on the basis of confidential information they are guilty of a criminal offence.

Interest Coverage
This ratio measures a firm's ability to pay interest on its debt. It is calculated by dividing net earnings before interest and taxes by the interest expense on bonds and other contractual long-term debt. A low coverage ratio can indicate a company is over-leveraged. A high ratio indicates a margin of safety from default.

Inventory
The monetary value of a company's raw materials, work in process, supplies used in operations and finished goods. A company with excess inventory on its balance sheet could indicate a slow-down in sales and a lack of pricing power.

Issue Price
Price at which shares are first offered to investors when a company floats on the stockmarket.

JOBBERS
were part of the old Stock Exchange system-stockbrokers bought and sold shares through them. Now prices are made by MARKET MAKERS.

Junk Bond
These are the lowest quality bonds. Since they are riskier, they yield more. Other, more flattering names for them are "high yield" or "non-investment-grade" bonds. See credit risk.

KRUGERRANDS
are South African coins containing 1 oz of gold, a popular way for small investors to speculate in the gold price.

Liquidity Ratio
This ratio is a measure of how much dollar volume is required to move a stock's price up or down by one percentage point. A high ratio indicates a stock that requires relatively heavy trading to move its price. A low liquidity ratio indicates a stock that moves on relatively light volume. The ratio is calculated by adding the daily percentage changes of a stock's closing price for each trading day of the month. Then the total dollar volume for the month is divided by this total percentage change figure.

LONG
If an investor is LONG of a share it means he has bought a lot of it.

Longs
Market term for government stocks (gilts) that have over 15 years to go until they are due to be repaid.

Long-Term Debt
Liabilities that are expected to paid after 12 months from the date of the last balance sheet. A company's long-term debt could be in the form of bank debt, mortgage bonds, debenture bonds or other obligations.

Market Value
The total market value of a company or stock. Also called market capitalization, it is calculated by multiplying the number of shares outstanding by the latest closing price of the stock. Generally speaking, small cap stocks have market values below $1 billion, while large-caps have values in excess of $5 billion. Mid-cap fall in-between.

MEDIUMS
Market for gilts (government securities) that have between five and 15 years to go before repayment.

Middle Market Price
Halfway between the buying and selling prices of a share. Most newspapers use the MIDDLE PRICE in their daily stockmarket lists for convenience.

NET
means after deductions. A NET return on an investment describes its value after tax ahs been deducted.

Net Earnings
Also known as the bottom line, this is the profit a company realizes after all costs, expenses and taxes have been paid. It is calculated by subtracting business, depreciation, interest and tax costs from revenues. Also called net income or net profit.

Net EPS
Net Earnings-Per-Share (EPS) is the portion of a companies net earnings allocated to each share of stock. It is calculated by dividing net earnings by common shares outstanding adjusted for the assumed conversion of all potentially dilative securities. Securities having a dilative effect may include convertible debentures, warrants, options and convertible preferred stock.

Net Margin
A company's profitability after all costs, expenses and taxes have been paid. The net margin is calculated by dividing net earnings by revenues and then multiplying by 100. The result is expressed as a percentage. It is used to measure operating efficiency at a company.

Nominal Value
means the face or par value of shares or other investments as opposed to the MARKET VALUE -what you can buy or sell at now.

OFFER PRICE
Price at which you buy a share.

Operating Margin
A company's profitability before non-cash charges. The operating margin is calculated by dividing EBITDA (earnings before interest expensed, taxes, depreciation and amortization) by revenues and then multiplying by 100. It is a measure of operating efficiency at a company.

Oversubscribed
is when a new issue attracts more applications that there are shares available.

Payout Ratio
The percent of earnings-per-share (EPS) that was paid out as a dividend. It is calculated by dividing the quarterly dividend by the quarterly EPS and multiplying by 100.

PEG
The PEG ratio (Price-to-earnings-growth) is calculated by dividing a stock's forward P/E by its projected three-to-five-year annual EPS growth rate. It is used to find companies that are trading at a discount to their projected growth. A PEG ratio of less than one is considered a sign that a stock is a good value. Generally speaking, the higher the PEG, the pricier the stock.

PREFERENCE SHARES
rank before ordinary shares for dividend payments, and in the even of a company being wound up preference shares must be repaid before equity holders get anything. Preference shares offer a fixed return - the dividends on ordinary shares go up and down depending on profits.

Premium
Upward difference between issue price of a share or other investment and its market value.

Pre-Tax Margin
The profitability of a company before taxes are paid. The pre-tax margin is calculated by dividing pre-tax earnings by revenues and then multiplying by 100. The result is expressed as a percentage.

Price/Book
The ratio of a stock's latest closing price divided by its book value per share. Book value is the total assets of a company minus total liabilities. It is also called shareholders' equity. To get the book-value-per-share figure, shareholders' equity is divided by total shares outstanding.

Price/Cash Flow
The ratio of a stock's latest closing price divided by cash flow per share for the past 12 months.

Price/Sales
The ratio of a stock's latest closing price divided by revenue per share. (Sales are the same thing as revenues.) Revenue per share is determined by dividing revenue for the past 12 months by the number of shares outstanding. This ratio is particularly useful for companies that have little or no earnings.

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ALLOTMENT LETTER
If you apply for a privatisation or new issue this tells you how many shares you have been given

ASSETS
is what a company owns – land, machinery, stocks, cash and investments. Deduct liabilities like loans and creditors and you get NET ASSET VALUE – what the company might be worth if it were wound up.

AT BEST
is an instruction to your stockbroker to buy or sell shares for the best price available.

ATO & ATC
Due to the first-in first-serve queuing system in the ATO and ATC orders may be not executed all or be executed some due to the first-in first-serve queuing system.** If the ATO and ATC order is not matched all or partial matched, the unfilled orders will be automatically cancelled. Meanwhile, if these orders were the limit price type, the remaining orders will remain and be matched after the market opens.

AUTOMATIC ORDER MATCHING (AOM)
A computerized screen-based trading method as provided by the ASSET system which allows brokers to electronically send buy or sell orders from their offices to the SET trading computer. The ASSET system implements an order queuing process and arranges the orders according to price-and-time priority. Orders are first grouped according to price with the best price taking precedence. Then, within each price group, orders are arranged according to the earliest time. Simultaneously, the ASSET system begins to automatically match the first buy and sell orders in the queue while at the same time confirming each executed transaction via the brokers' terminals.

Automated System for the Stock Exchange of Thailand (ASSET System) A fully computerized trading system which offers two trading alternatives: Automatic Order Matching (AOM) and Put Through (PT). The ASSET system divides its operations to serve different characteristics of trading in 5 different boards: Main Board, Odd Lot Board, Big Lot Board, Foreign Board, and Special Board

BETA
Beta measures the volatility of a stock's returns relative to the S&P 500. It is based on a 36-month historical regression of the return on the stock compared to the return on the S&P 500. For example, a beta of 1.5 indicates that a stock tends to move 50% more than the S&P 500 in the same direction. So if the S&P rises 10%, the stock will rise 15%; but if the S&P falls 10%, the stock will fall 15%. Generally speaking, the higher the beta, the more risky the investment.

BID PRICE
The price at which you sell shares.

BLUE CHIP
A big, well-known company whose shares are considered low risk.

Cash Flow
Net earnings before depreciation, amortization and non-cash charges. Sometimes called cash earnings, cash flow is calculated by adding depreciation to net earnings and subtracting preferred dividends. It is useful for determining how solvent a company is.

Common Equity
This is the amount of shareholders' equity attributable to common stock. Common stock equity generally consists of the following items: common stock at par value, capital surplus and retained earnings.

CONVERTIBLE LOAN STOCKS
pay fixed interest buy can be converted into shares at a given price at set times.

Coupon
The stated interest rate on a bond when it's issued. A $1,000 bond with a coupon of 6% will pay you $60 a year

Credit risk
The danger that a bond issuer's ability to repay what it owes will deteriorate. Usually, that prompts bonds rating firms to downgrade the company or municipality that issued your bond. An that, in turn, immediately sends the yield of the bond higher - since investors will demand more in order to justify the higher risk - and drive the price of the bond lower. Barring World War III or worse, Treasurys do not carry this risk since Uncle Sam is viewed as the world's most creditworthy borrower.

CUM
If a share is quoted CUM dividend or CUM rights issue it means that it still bears the entitlement and this is reflected in the prices.

Current Assets
Assets that can be converted to cash within 12 months. These include cash, marketable securities, accounts receivable and inventory.

Current Liabilities
Obligations that must be paid within 12 months. These include accounts payable, short-term debt and interest on long-term debt.

Current Share Price
Most recent market price of the shares. Our quote feed is on a 20-minute delay.

Current yield
You might think the current yield would be the same as the coupon rate on a bond. But, unless you're buying a new issue of bond trading at par, it's not. Unlike the coupon rate, which doesn't change, the current yield of a bond fluctuates with a bond's price on the secondary market. To get the current yield, divide the coupon by the bond's current market price. For example, a bond with a Baht 1,000 face value and a coupon of 6% purchased at Baht 900 has a current yield of 6.7% (60 / 900). When the current yield of a bond rises, its market price declines. Conversely, when the current yield declines, the price of the bond rises.

Debentures
A common kind of corporate bond, often issued by a firm during restructuring. Debentures are backed only by the credit quality or essentially the good name of the issuer. Since there is no collateral, these bonds may carry a higher risk, and therefore a higher rate of return, when compared to an asset-backed bond. However, debentures of solid companies may be very highly rated.

DEPRECIATION
The financial equivalent of wear and tear. Businesses deduct a certain amount from profits to reflect the decline in value of plant and machinery.

Derivative
Any kind of investment whose value is derived from or linked to an underlying stock, bond, currency or mortgage. This could include futures, options, or more esoteric fixed-income investments with acronyms like TIGRs or CMOs that you should best stay away from

DISCRETIONARY ACCOUNT
Your stockbroker or financial adviser can make investment decisions without necessarily consulting you

Dividends
This is the cash payment, per share, made by the company to its shareholders every quarter. It is usually the part of profits that was not reinvested in the company. Dividends are taxed as income, not capital gains.

EBITDA
Earnings before interest, taxes, depreciation and amortization. Also known as operation cash flow. EBITDA is calculated by subtracting cost of sales and operating expenses from revenues. It is a useful measure of cash flow for companies that have low earnings because of large restructuring, capital build-out or acquisition costs.

EQUITIES
Another term for ordinary shares.

Estimated EPS Growth
The mean estimate of earnings-per-share growth (for the indicated period) as derived from all polled estimates from Wall Street analysis. This information is provided by Zacks Investment Research.

EX
A share price maybe quoted as EX dividend or EX rights. It means the buyer will not have entitlement to the recent dividend payment or rights issue

FLAT YEILD
The income return on a fixed-interest investment at current price.

Flotation
When a company's shares are brought to the stockmarket and quoted for the first time.

Forward P/E
This is calculated using the latest closing price of the stock divided by the latest earnings-per-share estimate as provided by Zacks Investment Research. In the first three quarters of a company's fiscal year we use the EPS estimate for the current fiscal year. Starting in the fourth quarter we use the next fiscal year estimate. The EPS estimate is the mean estimate of EPS's growth, as derived from all polled estimates from Wall Street analysts.

Free Cash Flow
Cash not required for operations or for reinvestment. Free cash flow is calculated by subtracting capital expenditures from cash flow. Capital expenditures include the purchase of new plant, property and equipment. Free cash flow can be used to pay dividends, buy back stock or pay off debt. The more the better.

GEARING
Company borrowing as a proportion of shareholders' funds. A HIGHLY GEARED company is a riskier investment but when times are good earnings grow faster.

Gross
describes the value before deductions. An investment may be described as yielding 10% gross - that means before deduction of income tax.

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