Old Chang Kee 会不会变成第二个BreadTalk？

一直觉得Old Chang Kee和BreadTalk的Business Model很像，都是可以在短时间内复制连锁开遍地的。 虽然Old Chang Kee没有BreadTalk规模大，但是它的Profit Margin却相当于BreadTalk的两倍。但不确定它是不是局限于当地文化，首推咖喱饺，旗下的小吃店也以当地特色为主。不像BreadTalk打着面包中的高大上旗号走红亚洲。而且油炸食品总觉得不益健康。但是Old Chang Kee却有它的忠实粉丝。晚上经常看到所剩食物寥寥无几。股票走势一直很健康，属于稳扎稳打型。由于BreadTalk最近琦火箭往上窜，已经不敢碰了。此时买进Old Chang Kee会是一个好选择么？看那些Financial ratio感觉好像价格已经很高了，不适合进吧。请牛人指点迷津！

从Shareinvestor复制的OldChangKeep资料共大家参考。

Historical FinancialsProfit & Loss (SGD '000)Hide Profit & Loss chartCreated with Highstock 1.3.9SGD '000Margin (%)Profit & LossRevenueExceptional ItemsProfit Before TaxProfit Attributable To ShareholdersNet Profit(Earnings) Margin [%Cash Flow (SGD '000)Hide Cash Flow chartCreated with Highstock 1.3.9Cash Generated (SGD '000)Cash & Cash Equivalent (SGD '000)Cash FlowNet Cash Generated From / (Used In) Operating ActivitiesNet Cash Generated From / (Used In) Investing ActivitiesNet Cash Generated From / (Used In) Financing ActivitiesCash And Cash Equivalents At EndFull Year Dec 2008Full Year Dec 2009Full Year Dec 2010Full Year Mar 2012Full Year Mar 2013-10k-5k0k5k10k15k0k5k10k15k20k25kFull Year Mar 2012Net Cash Generated From / (Used In) Investing Activities: -4,221　Per Share Data (Adjusted)[+]Earnings Per Share (EPS)- Adjusted [S$]
(Earnings/Latest Number Of Shares) 0.048340.042650.041200.040050.039430.02762Period-on-Period % Growth- Adjusted　+13.33%+3.52%+2.89%+1.57%+42.75%n.a.[+]Net Asset Value (NAV) Per Share- Adjusted [S$]
((Shareholders' Equity - Other Share Capital)/Latest Number Of Shares) 0.33400.29340.27710.24370.21560.1866Period-on-Period % Growth- Adjusted　+13.81%+5.87%+13.72%+13.02%+15.52%n.a.[+] Net Tangible Asset (NTA) Per Share- Adjusted [S$]
((Shareholders' Equity - Other Share Capital - Intangible Assets)/Latest Number Of Shares) 0.30630.26310.24440.21120.18330.1539Period-on-Period % Growth- Adjusted　+16.43%+7.65%+15.71%+15.23%+19.07%n.a.Valuation Ratios (Adjusted)[+]Price Earnings Ratio (PER)- Adjusted
(Price/Adjusted EPS) 30.6234.7035.9236.9637.5453.59Period-on-Period % Growth- Adjusted　-11.76%-3.40%-2.81%-1.54%-29.95%n.a.[+]Price/NAV- Adjusted
(Price/Adjusted NAV) 4.43175.04385.34016.07296.86377.9293Period-on-Period % Growth- Adjusted　-12.14%-5.55%-12.07%-11.52%-13.44%n.a.[+] Price/NTA- Adjusted
(Price/Adjusted NTA) 4.83135.62516.05577.00728.07469.6148Period-on-Period % Growth- Adjusted　-14.11%-7.11%-13.58%-13.22%-16.02%n.a.[+]Price/Revenue- Adjusted
(Price x Latest Number Of Shares/Revenue) 0.7760.9311.1381.3751.6891.962Period-on-Period % Growth- Adjusted　-16.62%-18.20%-17.22%-18.62%-13.89%n.a.[+]Price/Operating Cash Flow- Adjusted
(Price x Latest Number Of Shares/Operating Cash Flow) 5.7437.8418.48910.4979.76812.716Period-on-Period % Growth- Adjusted　-26.76%-7.64%-19.12%+7.46%-23.19%n.a.[+] Price/Free Cash Flow- Adjusted
(Price x Latest Number Of Shares/Free Cash Flow) n.m.n.m.n.a.n.a.n.a.n.a.Period-on-Period % Growth- Adjusted　n.a.n.a.n.a.n.a.n.a.n.a.[+]Dividend Yield- Adjusted [%]
(Gross Dividend Per Share/Price) 1.2170.8780.6740.6760.5620.564Period-on-Period % Growth- Adjusted　+38.68%+30.19%-0.23%+20.25%-0.41%n.a.[+]Dividend Yieldincl Special Dividend - Adjusted [%]
(Total Dividend Per Share/Price) 1.2170.8781.0110.6760.5620.564Period-on-Period % Growthincl Special Dividend - Adjusted　+38.68%-13.21%+49.65%+20.25%-0.41%n.a.Per Share Data (Historical)[+]Earnings Per Share (EPS)- Historical [S$]
(Based on weighted average number of shares over the period) 0.048300.042700.041200.040100.047400.03310Period-on-Period % Growth- Historical　+13.11%+3.64%+2.74%-15.40%+43.20%n.a.[+]Net Asset Value (NAV) Per Share- Historical [S$]
(Based on number of shares at end of period) 0.33400.29400.27800.24400.25900.2230Period-on-Period % Growth- Historical　+13.61%+5.76%+13.93%-5.79%+16.14%n.a.[+] Net Tangible Asset (NTA) Per Share- Historical [S$]
(Based on number of shares at end of period) 0.30610.26340.24500.21120.22040.1843Period-on-Period % Growth- Historical　+16.25%+7.50%+15.98%-4.17%+19.57%n.a.Valuation Ratios (Historical)