| Description |
An analyst has prepared a table of the average trailing twelve-month
price-to-earning (P/E), price-to-cash flow (P/CF), and price-to-sales (P/S) for the
Tanaka Corporation for the years 2014 to 2017.</br>
<table style="width:90%;text-align:center">
<tr>
<th>Year</th>
<th>P/E</th>
<th>P/CF</th>
<th>P/S</th>
</tr>
<tr>
<td>2014</td> <td>4.9</td> <td>5.4</td> <td>1.2</td>
</tr><tr>
<td>2015</td> <td>6.1</td> <td>8.6</td> <td>1.5</td>
</tr><tr>
<td>2016</td> <td>8.3</td> <td>7.3</td> <td>1.9</td>
</tr>
<tr>
<td>2017</td> <td>9.2</td> <td>7.9</td> <td>2.3</td>
</tr>
</table></br>
As of the date of the valuation in 2018, the trailing twelve-month P/E , P/CF, and
P/S are, respectively, 9.2, 8.0, and 2.5. Based on the information provided, the
analyst may reasonably conclude that Tanaka shares are most likely: |