Wimpey (George) - The UKs Leading Housebuilder

If you were thinking that the price increases in the last couple of days has closed the valuation gap between WMPY and the rest of the sector - think again. WMPY is still cheap cheap cheap. Here is the data:

2006 PE
Barratt - 8.8x
Bellway - 8.2x
Bovis - 10.2x
Persimmon - 9.7x
Redrow - 8.9x
Taylor Woodrow - 7.9x
Wilson Bowden - 8.5x
Average ex-Wimpey - 8.9x
Wimpey - 7.1x
Conclusion: WMPY trading at a 20% discount to the sector

2006 dividend yield
Barratt - 3.1%
Bellway - 3.0%
Bovis - 3.9%
Persimmon - 2.7%
Redrow - 2.7%
Taylor Woodrow - 3.7%
Wilson Bowden - 3.1%
Average ex-Wimpey - 3.2%
Wimpey - 4.0%
Conclusion: WMPY yielding 25% more than the sector

Price to book (latest reported)
Barratt - 1.77x
Bellway - 1.61x
Bovis - 1.66x
Persimmon - 2.73x
Redrow - 1.87x
Taylor Woodrow - 1.54x
Wilson Bowden - 1.42x
Average ex-Wimpey - 1.80x
Wimpey - 1.38x
Conclusion: WMPY trading at a 23% discount to the sector

The price rise has been no more than a sector re-rating. Most welcome, sure. But I am still looking for WMPY to narrow its discount to the sector.