PAR

(Projected Annual Return) PAR is the sum of the forecast price appreciation (annualized) and the projected dividend yield. Price appreciation is, quite simply, the annualized change between the current price and a projected price. (<em>We ALWAYS use five years as the time horizon.</em>) The future price is projected based on current sales, a sales growth forecast, projected net margins and average P/E ratios.

(Projected Annual Return) PAR is the sum of the forecast price appreciation (annualized) and the projected dividend yield. Price appreciation is, quite simply, the annualized change between the current price and a projected price. (_We ALWAYS use five years as the time horizon._) The future price is projected based on current sales, a sales growth forecast, projected net margins and average P/E ratios.