Escolar Documentos
Profissional Documentos
Cultura Documentos
Q M S Advisors
.
Q.M.S Advisors | Avenue de la Gare, 1 1003 Lausanne | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
Minority
Interest
(USD)
Total Revenue
Cash and Enterprise
Equivalents
Value
(USD)
(USD)
Est. Tot.
Rev. - Tr.
12M
EBITDA
Est. Tot.
Est. Tot.
Est. EBITDA - Est. EBITDA - Est. EBITDA Rev. - 2013 Rev. - 2014 EBITDA - LFY Tr. 12M
2013
2014
EPS - LFY
Price/Earnings ratio
Est. P/E
Ratio - Tr.
12M
Rev. Growth
EBITDA Growth
Est.
Est.
Est. Est.
Est. P/E
Est. P/E
Revenue
Revenue Est. EBITDA
EBITDA
Est. EBITDA
Ratio - 2013 Ratio - 2014 Growth - 1Y Growth - 5Y Growth - 1Y Growth - 5Y Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Moody's LT Credit
Rating
Rating Date
USD
14281184
1923.576
1116
1116
204
220
220
101.41
110.54
110.54
15.38
15.38
14.11
14.11
18.80
Euro Stoxx 50 Pr
EUR
2553062
5424.032
4630
4630
739
775
775
229.96
307.93
307.93
19.02
16.41
14.21
14.21
19.70
NIKKEI 225
JPY
2554354
186.4402
188
188
19
20
20
5.28
5.50
5.50
0.27
0.27
0.25
0.25
0.12
GBP
2682474
11610.68
9614
9614
1447
1650
1650
531.79
820.72
820.72
27.64
17.91
17.91
22.24
CHF
1031660
10946.31
4119
4119
844
836
836
408.77
551.74
551.74
21.20
18.86
15.71
15.71
21.93
CAD
1675907
17151.75
7923
7923
1852
2088
2088
796.17
890.32
890.32
15.37
15.37
13.74
13.74
24.29
AUD
1408237
6730.544
2878
2878
607
705
705
252.53
342.62
342.62
21.54
17.43
15.87
15.87
22.39
HKD
1692248
3310.555
1659
1659
376
407
407
268.25
266.15
266.15
1.38
1.51
1.39
1.39
3.12
MSCI EM
USD
7658673
1544.178
1079
1079
201
220
220
86.99
95.05
95.05
11.75
13.38
10.76
10.76
20.03
3M CO
USD
73160
155
687
73.93
29904
29904
31485
33191
7771
7771
1985
1985
6.32
6.35
6.83
7.45
16.67
16.67
15.50
14.20
0.99
3.87
4.82
3.91
25.99
AA-
18.03.2009
Aa2
01.05.2009
ABBOTT LABORATORIES
USD
53466
406
1577
20
15
58.86
39874
39874
22713
24071
11156
11906
976
976
5.07
5.07
1.97
2.21
6.72
6.72
17.28
15.41
2.63
8.52
17.82
11.64
29.86
A+
26.10.2012
A1
22.09.2010
ABBVIE INC
USD
63425
570
1577
18
#VALUE!
#VALUE!
73.36
18380
#VALUE!
18407
18740
7255
1600
1600
3.47
3.10
3.18
12.98
12.67
5.37
30.36
26.10.2012
Baa1
05.11.2012
ACCENTURE PLC-CL A
USD
51816
167
677
46.62
29778
29857
29240
31130
4467
4542
1120
1120
3.84
3.94
4.28
4.70
18.84
18.84
17.34
15.79
8.87
5.15
12.08
8.55
15.21
A+
22.01.2002
ALLSTATE CORP
USD
23213
169
479
28.71
33315
33315
33587
34249
4.36
4.34
4.69
5.13
11.18
11.18
10.35
9.45
2.02
0.34
A-
29.01.2009
A3
29.01.2009
USD
68616
420
2010
14
79.63
17500
17500
17693
18021
7539
7539
1749
1749
2.21
2.21
2.40
2.57
15.44
15.44
14.25
13.26
5.30
-8.61
15.22
-12.44
43.08
BBB
06.01.2009
Baa1
24.10.2006
AMAZON.COM INC
USD
118040
266
454
11
112.10
61093
61093
75720
92943
2835
2834
958
958
0.05
0.36
3.36
5.69
721.39
721.39
77.30
45.64
27.07
30.56
45.76
25.77
4.64
AA-
26.11.2012
Baa1
26.11.2012
USD
23347
103
486
19
41.48
14945
14945
15787
16082
4874
4529
1132
1132
3.09
3.10
3.16
3.31
15.50
15.50
15.22
14.50
-1.13
2.01
3.42
4.80
30.30
BBB
07.03.2003
Baa2
14.09.2005
AMERICAN EXPRESS CO
USD
73990
275
1105
62
22
114.03
33808
33808
31945
35248
11658
11658
4.40
4.40
4.76
5.34
15.19
15.19
14.04
12.52
4.73
1.01
3.11
-4.80
34.48
BBB+
30.04.2009
A3
24.04.2009
AMGEN INC
USD
73226
417
756
27
24
75.71
17265
17265
18045
18399
6665
6665
1782
1782
6.00
5.96
7.19
8.23
16.43
16.43
13.61
11.90
10.80
3.45
24.07
2.92
38.60
A+
07.09.2007
Baa1
07.11.2011
USD
44742
253
501
13
56.79
14060
14058
14968
16920
6950
6948
2241
2241
2.25
4.12
4.01
5.21
21.35
21.35
21.92
16.87
2.96
6.49
-5.48
4.50
49.42
BBB-
08.09.2006
Baa3
23.03.2012
APACHE CORP
USD
29228
149
392
12
42.64
16947
16947
17692
19159
12283
12283
3016
3016
9.63
9.56
9.33
10.31
7.78
7.78
7.97
7.22
0.81
12.13
-2.14
10.90
72.48
A-
26.01.2001
A3
29.11.2010
APPLE INC
USD
434671
1105
939
121
297.56
157 K
165 K
181 K
204 K
58518
59255
13978
13978
44.15
44.10
44.13
49.77
10.48
10.48
10.48
9.29
44.58
41.47
64.36
65.35
35.98
NR
16.04.2004
WR
31.03.2004
AT&T INC
USD
200883
1113
5581
70
266.19
127434
127434
129048
131526
31140
31140
10679
10679
2.31
2.33
2.52
2.70
15.69
15.69
14.52
13.53
0.56
1.44
2.08
-5.80
24.44
A-
06.12.2010
A3
29.01.2013
USD
20134
200
441
24.23
21361
21361
21475
23496
3760
3760
877
877
3.21
3.21
3.08
4.35
14.19
14.19
14.80
10.46
7.72
19.53
-11.24
6.08
17.60
05.05.2006
A2
25.01.1995
USD
132332
10594
10778
673
19
349
#VALUE!
100078
100130
90792
92022
1.13
0.92
1.01
1.33
13.29
13.29
12.08
9.19
-13.26
-2.06
A-
29.11.2011
Baa2
21.06.2012
USD
32930
258
1163
62
145
#VALUE!
15089
15596
14719
15436
2.34
2.30
2.25
2.58
12.31
12.31
12.58
10.96
-4.52
-0.95
A+
29.11.2011
Aa3
08.03.2012
USD
38629
130
546
41.33
14190
14190
15475
16933
3533
3533
938
938
4.52
4.52
4.69
5.21
15.72
15.72
15.14
13.65
2.14
4.57
-2.30
3.77
24.90
06.12.2012
USD
254778
318
#VALUE!
63
187
134.70
162463
162463
#VALUE!
#VALUE!
29524
29524
#VALUE!
#VALUE!
#VALUE!
#VALUE!
13.07
10.60
34.15
4.33
18.17
AA+
04.02.2010
Aa2
04.02.2010
BOEING CO/THE
USD
65567
492
756
10
14
62.52
81698
81698
84090
91513
8118
8118
1854
1854
5.11
5.11
6.34
7.15
16.91
16.91
13.63
12.09
18.86
7.71
8.53
2.21
9.94
29.07.2009
A2
15.03.2006
BRISTOL-MYERS SQUIBB CO
USD
66509
497
1630
67.57
17621
17621
16602
17869
4771
4771
942
942
1.82
1.88
1.84
2.18
21.54
21.54
21.98
18.60
-17.05
-1.91
-35.94
3.29
27.08
A+
06.09.2006
A2
12.09.2006
USD
32123
213
582
50
11
70.97
23177
23177
22297
22601
13429
13343
6.24
5.61
6.49
6.73
9.81
9.81
8.47
8.18
25.11
5.56
37.13
2.50
57.57
BBB
17.06.2009
Baa1
17.02.2012
CATERPILLAR INC
USD
56983
325
655
10
64.21
65875
65875
63303
68763
11966
11966
2102
2102
8.62
8.63
8.01
9.39
10.05
10.05
10.83
9.24
9.54
11.51
23.62
12.24
18.16
24.06.2003
A2
15.06.1995
CHEVRON CORP
USD
234872
316
1947
12
21
227.17
222580
222580
236505
232833
48426
48426
11331
11331
12.10
12.12
12.36
12.49
9.96
9.96
9.77
9.67
-5.80
-0.13
-5.44
7.12
21.76
AA
01.07.1987
Aa1
27.02.2009
USD
110638
2102
5298
16
49
80.56
46061
47252
48708
51403
12971
13372
3802
3802
1.55
1.62
2.00
2.11
12.79
12.79
10.39
9.83
6.58
4.44
18.36
5.10
28.30
A+
10.02.2006
A1
10.02.2006
CITIGROUP INC
USD
135620
2794
3029
624
36
727.21
90708
90853
78926
81179
41810
41647
4.83
3.97
4.64
5.31
11.23
11.23
9.61
8.40
-11.58
6.82
-21.93
-15.72
45.84
A-
29.11.2011
Baa2
21.06.2012
COCA-COLA CO/THE
USD
180542
1829
4469
33
17
196.98
48017
48017
49006
51308
12761
12761
3233
3233
2.01
2.00
2.14
2.33
20.25
20.25
18.90
17.37
3.17
10.26
5.23
8.68
26.58
AA-
13.09.2012
Aa3
16.08.2007
COLGATE-PALMOLIVE CO
USD
54659
174
468
59.21
17085
17085
17752
18762
4314
4319
1088
1088
5.36
5.33
5.73
6.35
21.88
21.88
20.36
18.39
2.10
3.41
1.22
7.63
25.28
AA-
04.05.2001
Aa3
18.06.2001
COMCAST CORP-CLASS A
USD
108404
1457
2639
40
17
12
153.89
62570
62570
64235
68029
19977
19977
5022
5022
1.92
1.93
2.39
2.74
21.49
21.49
17.34
15.16
12.05
16.15
8.82
11.13
31.93
A-
14.02.2013
A3
13.02.2013
CONOCOPHILLIPS
USD
73711
330
1220
22
92.26
57967
96888
52783
56815
19396
20383
5437
5437
5.37
6.09
5.47
6.08
9.90
9.90
11.01
9.91
-9.70
-13.33
-10.41
-8.76
21.04
07.02.2012
A1
26.04.2012
USD
46133
164
432
#VALUE!
45.52
99137
103128
106075
115242
3667
3874
930
930
3.89
4.32
4.55
5.03
24.46
24.46
23.22
21.01
11.50
8.06
11.02
10.87
3.76
A+
28.11.2012
A1
26.03.2012
USD
68775
353
1231
10
77.22
123133
123133
125268
130061
8981
8981
2064
2064
3.20
3.20
3.97
4.41
17.44
17.44
14.08
12.67
14.97
7.65
13.71
8.81
7.29
BBB+
23.03.2007
Baa2
13.02.2007
USD
23162
98
406
12
27.83
9679
9651
9868
11106
5253
5225
1257
1257
3.30
3.27
3.54
5.00
17.39
17.39
16.06
11.38
-11.73
-3.07
-17.78
-6.57
54.14
BBB+
18.03.2008
Baa1
21.09.2007
USD
38672
481
1203
21
60.48
56786
56786
58995
61770
6645
6425
2158
2158
1.90
1.91
2.37
2.95
16.79
16.79
13.54
10.86
-5.33
0.57
-3.82
1.85
11.31
BBB
11.05.2011
Baa2
02.11.2012
EBAY INC
USD
67133
1333
1294
62.24
14072
14071
16351
18761
4088
4090
1237
1237
1.95
1.94
2.76
3.23
26.67
26.67
18.78
16.03
20.77
13.73
23.39
9.42
29.07
02.03.2010
A2
21.10.2010
USD
45472
523
933
12
53.13
34812
36951
36150
38367
4794
5069
2342
2342
3.33
3.51
3.92
4.38
13.88
13.88
12.41
11.11
3.36
1.58
-4.99
2.35
13.72
17.05.2011
A2
15.07.2011
USD
63652
401
1144
63.51
22603
22603
23011
19909
6478
6477
1702
1702
3.82
3.39
3.89
2.80
16.52
16.52
14.38
20.03
-6.93
2.96
-15.78
2.06
28.66
AA-
19.08.2010
A2
08.11.2010
EMC CORP/MA
USD
49917
1034
2107
48.34
21714
21714
23482
25468
5602
5602
1624
1624
1.26
1.26
1.86
2.06
18.78
18.78
12.74
11.47
8.53
9.67
12.92
15.81
25.80
25.06.2012
WR
01.08.2000
EMERSON ELECTRIC CO
USD
40241
541
724
43.31
24412
24656
25244
26572
5155
5269
1132
1132
3.34
3.42
3.60
4.02
16.22
16.22
15.40
13.81
0.78
0.48
1.16
4.42
21.37
04.02.2002
A2
15.02.2002
EXELON CORP
USD
28909
260
855
20
47.41
23489
23489
25518
25376
6550
6550
1990
1990
2.85
2.55
2.49
2.30
13.23
13.23
13.56
14.66
23.22
8.12
-3.45
-0.89
27.89
BBB
22.07.2009
Baa2
08.11.2012
USD
403509
960
4502
12
10
411.31
420714
426252
435719
444541
65769
67270
18691
18691
7.56
7.89
7.94
8.36
11.41
11.41
11.34
10.77
-2.96
2.37
-5.62
-1.21
15.78
AAA
16.12.1985
WR
16.08.1993
FEDEX CORP
USD
30974
294
317
29.84
42680
43860
44293
46686
5433
5393
1638
1638
6.59
6.17
6.10
7.59
15.79
15.79
15.98
12.84
8.59
3.44
22.36
1.60
12.30
BBB
11.02.2004
Baa1
13.01.2012
FORD MOTOR CO
USD
51143
1307
3946
14
24
41.38
134252
134252
134615
141475
12513
13404
3240
3240
1.40
1.31
1.40
1.68
10.12
10.12
9.45
7.88
-1.48
-1.81
-8.19
-0.09
9.98
BB+
21.10.2011
Baa3
22.05.2012
FREEPORT-MCMORAN COPPER
USD
30841
447
949
34.43
18010
18010
22571
23669
6934
6934
1912
1912
3.27
3.18
4.34
4.53
10.24
10.24
7.51
7.20
-13.75
15.34
-31.77
-2.37
38.50
BBB
29.07.2011
Baa3
13.10.2010
USD
24838
248
354
25.45
31513
31513
31614
31511
3447
1453
983
983
6.52
6.42
6.77
7.19
10.90
10.90
10.34
9.73
-3.56
1.73
-21.98
-0.51
4.61
09.07.1999
A2
07.08.2003
GENERAL ELECTRIC CO
USD
239568
3303
10406
17
16
246.90
144796
144796
149226
154898
25000
25000
5694
5694
1.54
1.52
1.68
1.85
15.14
15.14
13.74
12.44
1.81
-3.99
-0.16
-6.95
17.27
AA+
12.03.2009
Aa3
03.04.2012
USD
69238
762
1519
75.12
9703
9703
10748
12727
4288
4288
1116
1116
1.70
1.70
2.07
2.90
26.74
26.74
21.91
15.68
15.71
19.77
4.80
14.12
44.20
A-
23.03.2011
Baa1
23.03.2011
USD
70200
275
481
511
73
514.93
41664
41664
33559
34811
20446
20446
15.03
15.06
13.75
15.10
9.67
9.67
10.60
9.65
13.24
24.96
27.63
-19.57
49.07
A-
29.11.2011
A3
21.06.2012
GOOGLE INC-CL A
USD
268688
116
330
50
224.67
50175
51379
47959
56130
15722
15684
5178
5178
34.02
33.74
45.83
53.82
24.02
24.02
17.68
15.06
32.37
24.66
15.66
21.04
30.53
AA
19.11.2012
Aa2
16.05.2011
HALLIBURTON CO
USD
37151
592
929
39.51
28503
28503
29695
32786
5787
5787
1302
1302
3.02
3.08
3.02
3.95
12.93
12.93
13.16
10.07
14.80
14.53
-5.07
7.51
20.30
20.08.2007
A2
01.05.2007
A3
*-
04.12.2012
Minority
Interest
(USD)
Total Revenue
Cash and Enterprise
Equivalents
Value
(USD)
(USD)
Est. Tot.
Rev. - Tr.
12M
EBITDA
Est. Tot.
Est. Tot.
Est. EBITDA - Est. EBITDA - Est. EBITDA Rev. - 2013 Rev. - 2014 EBITDA - LFY Tr. 12M
2013
2014
EPS - LFY
Price/Earnings ratio
Est. P/E
Ratio - Tr.
12M
Rev. Growth
EBITDA Growth
Est.
Est.
Est. Est.
Est. P/E
Est. P/E
Revenue
Revenue Est. EBITDA
EBITDA
Est. EBITDA
Ratio - 2013 Ratio - 2014 Growth - 1Y Growth - 5Y Growth - 1Y Growth - 5Y Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Moody's LT Credit
Rating
Rating Date
USD
14281184
1923.576
1116
1116
204
220
220
101.41
110.54
110.54
15.38
15.38
14.11
14.11
18.80
Euro Stoxx 50 Pr
EUR
2553062
5424.032
4630
4630
739
775
775
229.96
307.93
307.93
19.02
16.41
14.21
14.21
19.70
NIKKEI 225
JPY
2554354
186.4402
188
188
19
20
20
5.28
5.50
5.50
0.27
0.27
0.25
0.25
0.12
GBP
2682474
11610.68
9614
9614
1447
1650
1650
531.79
820.72
820.72
27.64
17.91
17.91
22.24
CHF
1031660
10946.31
4119
4119
844
836
836
408.77
551.74
551.74
21.20
18.86
15.71
15.71
21.93
CAD
1675907
17151.75
7923
7923
1852
2088
2088
796.17
890.32
890.32
15.37
15.37
13.74
13.74
24.29
AUD
1408237
6730.544
2878
2878
607
705
705
252.53
342.62
342.62
21.54
17.43
15.87
15.87
22.39
HKD
1692248
3310.555
1659
1659
376
407
407
268.25
266.15
266.15
1.38
1.51
1.39
1.39
3.12
MSCI EM
USD
7658673
1544.178
1079
1079
201
220
220
86.99
95.05
95.05
11.75
13.38
10.76
10.76
20.03
HEWLETT-PACKARD CO
USD
45393
1507
28
11
61.43
120357
118680
113278
112119
14384
14026
3445
3445
0.31
0.21
3.45
3.59
111.43
111.43
6.78
6.51
-5.41
0.09
-12.15
3.69
11.82
BBB+
30.11.2011
Baa1
28.11.2012
HJ HEINZ CO
USD
23103
207
320
27.07
11649
11601
11707
12209
1794
1919
583
583
3.35
3.57
3.56
3.81
20.18
20.18
20.25
18.94
8.80
2.60
-7.85
0.93
16.54
BBB+ *-
14.02.2013
Baa2 *-
14.02.2013
USD
104498
390
1495
11
112.80
74754
74754
76834
80173
9450
9450
2333
2333
3.10
3.07
3.52
4.08
22.76
22.76
19.88
17.11
6.19
1.22
13.27
0.65
12.64
A-
16.11.2011
A3
30.08.2011
USD
59239
206
783
61.71
37665
37665
39436
41597
5082
5082
1628
1628
4.84
4.90
4.95
5.51
15.39
15.39
15.24
13.69
3.11
0.88
43.93
2.19
13.49
03.07.2001
A2
12.10.2001
INTEL CORP
USD
106141
3444
4944
13
23
97.00
53341
53341
53942
56527
22160
22160
4602
4602
2.13
2.13
2.02
2.18
10.06
10.06
10.59
9.82
-1.22
6.39
-5.87
10.34
41.54
A+
17.02.1993
A1
14.09.2011
USD
236532
175
1117
33
11
258.80
104507
104507
106289
109013
25119
25121
5695
5695
15.25
15.30
16.77
18.41
13.85
13.85
12.64
11.51
-2.25
0.39
0.07
6.06
24.04
AA-
30.05.2012
Aa3
23.11.2010
USD
224352
1146
2778
16
21
219.43
67224
67224
71233
74147
20698
20698
5851
5851
5.10
5.12
5.41
5.77
15.67
15.67
14.83
13.92
3.37
2.12
7.18
2.84
30.79
AAA
17.09.1987
Aaa
10.08.1987
USD
186015
1216
3804
696
472
#VALUE!
108184
108184
100232
102736
6.04
5.93
5.49
5.86
8.19
8.19
8.85
8.29
-2.39
-1.15
29.11.2011
A2
21.06.2012
USD
30200
150
321
34.61
47182
47182
45190
44346
5470
5404
1206
1206
10.19
10.33
8.94
9.07
9.05
9.05
10.46
10.31
1.47
2.33
6.75
0.46
11.45
A-
27.04.2007
Baa1
26.01.2006
USD
42180
360
1110
50.59
50521
50521
52401
54341
5183
5182
1424
1424
1.69
1.74
2.09
2.54
21.83
21.83
18.19
14.95
0.62
1.41
6.73
-3.42
10.26
A-
19.09.2012
A3
14.11.2011
MASTERCARD INC-CLASS A
USD
65719
102
123
60.73
7391
7391
8262
9281
4187
4187
1182
1182
22.04
22.05
25.42
30.17
24.19
24.19
20.99
17.69
10.08
12.15
13.87
27.78
56.65
A-
19.08.2011
MCDONALD'S CORP
USD
98766
424
1003
14
110.06
27567
27567
28846
30504
10101
10101
2318
2318
5.37
5.36
5.79
6.34
18.37
18.37
17.00
15.53
2.08
3.96
1.61
8.06
36.64
08.05.2003
A2
17.12.2010
MEDTRONIC INC
USD
46686
275
1037
11
55.64
16 K
16 K
17 K
17 K
5680
5616
1589
1589
3.38
3.60
3.69
3.86
12.81
12.81
12.49
11.94
4.36
3.47
5.69
5.58
34.19
A+
14.02.2012
A2
14.03.2013
USD
133649
932
3027
21
16
140.52
47267
47268
46227
46809
16855
17488
3885
3885
3.65
3.82
3.64
3.80
11.56
11.56
12.13
11.61
-1.62
16.18
-0.94
16.19
37.00
AA
24.11.2010
Aa3
05.11.2009
METLIFE INC
USD
41928
512
1092
27
16
55.35
68150
68150
69990
72091
5.28
5.27
5.25
5.63
7.27
7.27
7.30
6.80
-2.98
15.20
A-
06.08.2010
A3
16.12.2009
MICROSOFT CORP
USD
236587
2197
8381
12
63
182.46
73723
72930
79390
85801
30923
29120
8110
8110
2.73
2.56
2.84
3.14
11.00
11.00
9.93
8.97
5.40
5.66
3.33
9.15
39.93
AAA
22.09.2008
Aaa
11.05.2009
USD
53491
1074
1778
19
68.58
35015
48783
36610
38763
5028
7727
1384
1384
1.39
2.24
1.57
1.76
13.44
13.44
19.22
17.08
-2.22
0.57
1.00
-0.96
15.84
BBB
02.02.2010
Baa2
02.02.2010
MONSANTO CO
USD
55232
235
534
52.57
13504
14016
14938
15913
3760
4021
2189
2189
3.70
4.27
4.56
5.18
24.13
24.13
22.58
19.91
14.23
10.98
20.67
14.20
28.69
A+
21.10.2008
A1
21.02.2012
MORGAN STANLEY
USD
43422
924
1974
451
47
456.50
32036
32333
32227
34216
8020
8293
1.58
1.67
2.09
2.56
13.22
13.22
10.56
8.64
-18.15
-5.67
-44.32
-33.50
25.65
A-
29.11.2011
Baa1
21.06.2012
USD
29976
481
427
29.92
20041
20041
22731
24347
4185
4185
1047
1047
5.91
5.90
5.97
6.85
11.89
11.89
11.76
10.25
36.72
18.90
19.85
13.13
20.88
25.04.2012
A2
14.05.2012
NEWS CORP-CL A
USD
70531
831
2383
15
#VALUE!
10
80.68
33706
34333
35613
38024
6646
6754
1688
1688
1.41
1.57
1.68
1.98
19.26
19.26
18.02
15.30
0.90
2.06
8.36
4.21
19.67
BBB+
30.11.2012
USD
53617
506
916
49.90
24128
25281
25347
27465
3413
3390
994
994
2.39
2.54
2.67
3.05
23.36
23.36
22.21
19.45
15.66
6.51
8.35
7.28
13.59
A+
10.06.2005
A1
29.04.2008
USD
23562
169
314
31.58
11040
11040
11304
12017
4046
4046
918
918
5.37
5.37
5.53
6.32
13.91
13.91
13.52
11.82
-1.18
2.52
-0.88
3.72
36.65
BBB+
18.07.2005
Baa1
06.05.1997
USD
62452
351
806
68.51
24172
24172
25667
27040
13701
13701
3715
3715
7.09
7.09
7.25
7.77
10.93
10.93
10.68
9.98
0.97
4.02
-3.30
6.01
56.68
23.06.2008
A1
19.04.2012
ORACLE CORP
USD
148244
3115
4905
16
31
135.03
37121
37149
37444
39560
16973
17286
5889
5889
2.00
2.16
2.69
2.93
14.61
14.61
11.73
10.76
4.21
11.70
9.33
18.51
46.53
A+
24.04.2012
A1
24.06.2011
PEPSICO INC
USD
121587
361
1544
28
143.47
65492
65492
68122
71288
11801
11801
2304
2304
4.10
4.09
4.39
4.77
19.28
19.28
17.97
16.52
-1.52
10.82
-4.60
6.54
18.02
17.03.2010
Aa3
24.02.2010
PFIZER INC
USD
204719
2617
7276
37
33
209.93
58986
59506
57533
56524
25602
26309
6656
6656
2.19
2.21
2.28
2.37
12.90
12.90
12.52
12.03
-9.61
3.95
-3.90
5.08
44.21
AA
16.10.2009
A1
15.10.2009
USD
150657
408
1654
23
172.14
31377
31377
32493
34410
14827
14827
3708
3708
5.22
5.20
5.77
6.41
17.57
17.57
15.85
14.25
0.90
5.99
2.72
8.64
47.25
05.03.2008
A2
11.09.2008
USD
211430
355
2748
30
240.01
83680
83320
84658
87723
18072
18023
4754
4754
3.85
3.96
4.06
4.37
19.53
19.53
19.05
17.69
1.36
1.14
-3.13
-0.55
21.63
AA-
10.05.2005
Aa3
01.07.2005
QUALCOMM INC
USD
113998
1090
1706
27
85.68
19121
20458
24134
26887
6579
7149
2345
2345
2.79
3.84
4.51
4.91
17.28
17.28
14.72
13.52
27.84
20.60
8.08
15.03
34.94
NR
19.12.2001
RAYTHEON COMPANY
USD
18834
113
328
19.68
24414
24414
23854
23526
3444
3444
750
750
6.20
6.22
5.33
5.56
9.28
9.28
10.82
10.37
-1.52
1.56
5.19
4.99
14.11
A-
04.09.2008
A3
17.10.2011
SCHLUMBERGER LTD
USD
98735
463
1328
12
104.20
42149
42841
46182
51561
11020
11055
2815
2815
4.16
4.19
4.72
5.79
17.67
17.67
15.69
12.80
14.04
14.70
12.52
5.53
25.80
A+
11.12.2002
A1
03.06.2003
USD
49530
55
310
23
72.66
4880
4880
4951
5205
3491
3483
912
912
4.72
4.74
3.51
4.03
33.61
33.61
45.38
39.58
13.32
5.52
15.76
7.34
71.37
A-
10.05.2010
SOUTHERN CO/THE
USD
40025
381
868
22
62.91
16537
16537
17989
18705
6589
6589
1264
1264
2.65
2.66
2.76
2.91
17.31
17.31
16.69
15.84
-6.34
2.36
4.94
6.49
39.84
21.12.2000
Baa1
12.08.2010
STARBUCKS CORP
USD
42688
380
749
40.78
13300
13663
14921
16722
2367
2446
689
689
1.79
1.86
2.16
2.63
30.57
30.57
26.28
21.65
13.67
6.80
14.11
10.50
17.90
A-
24.02.2012
Baa3
13.05.2009
TARGET CORP
USD
43800
179
645
18
60.66
73301
73301
75502
80251
7352
7353
1716
1716
4.76
4.56
5.04
5.60
14.96
14.96
13.53
12.18
4.92
2.75
-1.36
1.19
10.03
A+
20.11.2007
A2
27.11.2007
USD
38402
863
1108
40.12
12825
12825
12173
12983
3986
3988
719
719
1.91
1.79
1.71
2.16
19.40
19.40
20.27
16.11
-6.63
-1.58
-10.10
-2.68
31.10
A+
23.09.2010
A1
25.05.2011
USD
53003
336
932
20
70.03
28729
28729
29745
31086
7106
7106
1633
1633
3.29
3.34
3.68
4.25
16.96
16.96
15.41
13.33
-0.85
-5.96
3.33
-18.04
24.73
BBB
27.03.2009
Baa2
06.03.2006
USD
65373
160
469
73.31
20926
20926
22077
23622
8505
8505
2046
2046
8.24
8.25
9.40
10.74
16.85
16.85
14.79
12.94
7.00
5.16
15.86
12.61
40.64
A-
23.04.2012
Baa1
26.10.2012
USD
80344
107
953
13
85.37
54127
54127
56774
60188
3201
3201
2024
2024
4.53
4.53
5.02
5.71
18.71
18.71
16.89
14.83
1.92
1.83
-59.29
6.62
5.91
A+
21.09.2012
Aa3
16.01.2013
USD
85413
207
919
23
105.21
57708
57716
65093
68802
9208
9197
2389
2389
5.36
5.34
6.11
7.00
17.41
17.41
15.22
13.27
3.50
2.47
1.09
2.29
15.93
02.10.2003
A2
22.04.1993
USD
56750
318
1019
17
11
64.19
110618
110618
123371
135925
10563
10563
2285
2285
5.28
5.28
5.51
5.99
10.51
10.51
10.07
9.27
8.60
9.00
10.17
4.09
9.55
24.09.2012
A3
21.07.2011
US BANCORP
USD
62740
499
1869
52
#VALUE!
22202
22202
20496
21214
2.87
2.87
3.07
3.21
11.72
11.72
10.97
10.49
3.58
1.70
A+
20.08.2012
A1
06.12.2012
USD
141485
588
2859
52
52
242.28
115846
115846
120735
125329
29620
29620
10027
10027
2.24
2.25
2.76
3.15
22.00
22.00
17.91
15.73
4.48
4.82
0.83
-0.97
25.57
A-
06.12.2010
A3
29.10.2008
USD
110416
526
811
104.23
10421
10720
11585
12931
6572
6769
1859
1859
6.20
6.52
7.34
8.52
25.55
25.55
22.70
19.56
13.42
13.86
14.28
37.44
63.14
A+
20.05.2008
USD
250023
610
3340
54
301.77
469162
469162
491790
514013
36302
36302
7881
7881
5.02
5.02
5.37
5.88
14.85
14.85
13.90
12.68
4.97
3.61
4.65
5.13
7.74
AA
09.07.1999
Aa2
06.03.1996
WALGREEN CO
USD
44713
584
944
48.64
71633
70788
72663
76019
4630
4516
1480
1480
2.53
2.41
3.25
3.69
19.71
19.71
14.62
12.88
-0.76
3.97
-8.48
3.89
6.38
BBB
02.08.2012
Baa1
02.08.2012
USD
102061
247
1780
14
118.66
42278
42840
45161
47977
10850
10959
2748
2748
3.08
3.06
3.45
3.89
18.43
18.43
16.36
14.50
3.39
1.83
12.76
5.45
25.58
22.12.2009
A2
23.05.2007
USD
195708
986
5266
185
13
159
#VALUE!
91247
91247
85453
86700
3.39
3.39
3.65
3.89
10.95
10.95
10.19
9.54
4.17
18.42
A+
29.11.2011
A2
21.09.2011
USD
25360
239
681
11
37.93
7486
7517
8222
9359
2368
2382
689
689
1.21
1.12
1.02
1.43
33.09
33.09
36.40
25.90
-5.60
-3.35
-31.97
-4.73
31.69
BBB
05.03.2012
Baa3
15.11.2007
1963
Target
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
%D to Spot
2.16
2.16
1.99
1.80
2.16
1.40
1.40
1.33
1.28
1.40
9.99
9.99
9.69
9.48
9.99
8.74
8.74
8.08
7.57
8.74
14.11
14.11
12.64
11.43
14.11
2.21
2.21
2.37
2.56
2.21
1681.4
7.8%
Euro Stoxx 50 Pr
1.14
1.14
1.08
1.02
1.14
0.73
0.73
0.71
0.69
0.73
5.32
5.32
4.97
4.74
5.32
7.00
7.00
6.62
6.30
7.00
11.05
11.05
9.90
9.06
11.05
4.35
4.35
4.68
4.98
4.35
2895.5
9.4%
NIKKEI 225
1.50
1.50
1.41
1.32
1.50
0.70
0.70
0.66
0.65
0.70
9.47
9.47
8.14
7.61
9.47
9.50
9.50
8.28
7.76
9.50
24.04
24.04
18.83
14.58
24.04
1.65
1.65
1.66
1.94
1.65
11916.4
-4.5%
1.68
1.68
1.56
1.35
1.68
1.01
1.01
0.97
0.99
1.01
7.91
7.91
7.28
5.26
7.91
7.04
7.04
6.59
6.32
7.04
11.82
11.82
10.72
9.82
11.82
3.89
3.89
4.18
4.61
3.89
6809.6
6.4%
2.39
2.39
2.22
2.05
2.39
2.00
2.00
1.90
1.82
2.00
12.30
12.30
11.24
9.87
12.30
13.09
13.09
12.11
11.32
13.09
14.91
14.91
13.35
12.12
14.91
3.31
3.31
3.67
4.16
3.31
8026.2
2.8%
1.68
1.68
1.55
1.45
1.68
1.57
1.57
1.48
1.42
1.57
8.40
8.40
7.54
7.00
8.40
8.22
8.22
7.27
6.88
8.22
13.98
13.98
12.32
11.33
13.98
3.14
3.14
3.29
3.49
3.14
14540.6
14.8%
1.88
1.88
1.78
1.68
1.88
1.80
1.80
1.70
1.61
1.80
11.09
11.09
9.90
9.04
11.09
9.54
9.54
8.40
7.80
9.54
15.14
15.14
13.48
12.37
15.14
4.39
4.39
4.70
5.07
4.39
5152.0
4.1%
1.33
1.33
1.23
1.15
1.33
1.73
1.73
1.60
1.49
1.73
7.12
7.12
6.60
6.21
7.12
8.13
8.13
7.39
6.84
8.13
10.80
10.80
9.91
9.02
10.80
3.57
3.57
3.85
4.37
3.57
24942.6
11.8%
MSCI EM
1.43
1.43
1.30
1.21
1.43
0.95
0.95
0.88
0.84
0.95
6.85
7.03
7.03
6.45
6.05
7.03
10.76
10.76
9.67
8.97
10.76
3.08
3.08
3.59
6.74
3.08
1183.8
15.8%
3M CO
4.21
3.77
3.34
2.98
2.45
2.32
2.20
2.10
9.51
8.95
8.32
7.81
16.76
15.53
14.23
13.17
2.24
2.39
2.57
2.60
110.67
4.4%
ABBOTT LABORATORIES
2.10
2.35
2.16
1.91
1.35
2.36
2.22
1.94
ABBVIE INC
23.19
13.02
8.75
7.10
3.46
3.45
3.39
ACCENTURE PLC-CL A
10.56
8.71
6.90
6.19
1.86
1.77
ALLSTATE CORP
1.15
1.05
0.96
0.87
0.70
0.69
17.68
16.49
15.35
14.00
3.94
AMAZON.COM INC
15.45
12.12
9.86
7.53
1.53
1.46
1.41
AMERICAN EXPRESS CO
3.87
3.64
3.34
AMGEN INC
3.83
3.19
2.09
APACHE CORP
APPLE INC
6.85
6.85
6.30
5.89
14.29
12.83
11.46
9.64
1.96
5.95
12.00
10.94
9.04
12.76
4.69
9.55
8.69
6.37
5.34
6.73
17.26
15.40
12.43
12.09
2.29
1.66
1.85
2.11
2.32
35.12
3.2%
3.21
3.04
9.36
10.37
10.82
10.30
9.49
9.68
10.06
9.96
9.28
8.60
10.73
12.97
12.66
11.68
10.49
3.98
3.98
4.09
4.35
5.15
39.30
-2.3%
1.66
1.57
1.49
14.69
14.60
12.76
11.05
10.67
9.78
9.22
8.62
8.29
19.36
17.38
15.83
14.63
1.74
2.19
2.44
2.81
77.44
4.1%
0.68
0.67
13.14
10.37
9.47
8.88
1.81
2.03
2.13
2.16
49.53
1.9%
3.88
3.81
3.84
15.47
14.25
13.27
12.44
5.01
5.40
5.85
6.29
36.25
6.2%
1.90
1.56
1.27
1.05
318.97
22.8%
1.35
1.51
1.48
1.45
1.48
47.87
-0.4%
3.33
2.34
2.31
2.09
1.94
66.99
0.0%
2.79
2.29
4.26
4.06
3.98
3.96
3.94
11.88
13.12
12.09
13.38
21.66
10.21
10.11
9.17
9.26
1.91
1.70
1.49
3.35
2.99
2.64
2.41
2.33
5.93
5.56
4.96
4.01
4.36
6.79
5.98
5.19
4.59
0.94
0.85
0.76
0.74
1.71
1.65
1.52
1.40
3.01
2.94
2.65
2.47
3.48
3.40
3.10
3.02
3.71
3.01
2.42
1.94
1.53
2.78
2.40
2.13
1.88
1.78
8.43
8.37
7.85
7.55
5.09
4.95
4.42
AT&T INC
2.13
2.27
2.18
2.21
2.54
1.58
1.56
1.53
1.49
1.47
6.14
5.89
5.72
5.50
6.38
6.27
1.16
1.09
1.00
0.92
0.95
0.94
0.86
0.81
8.06
7.17
5.84
6.18
6.35
6.29
0.60
0.58
0.55
0.51
1.52
1.46
1.44
1.38
29.47
11.09
8.81
0.92
0.88
0.83
0.78
2.27
2.23
2.13
2.02
12.31
10.95
5.26
4.47
3.77
3.29
2.73
2.50
2.28
2.19
13.05
12.95
6.25
3.02
19.81
15.93
14.77
13.68
0.86
40.11
26.94
18.00
13.21
1.47
6.92
6.70
6.87
6.95
2.10
10.55
10.29
9.95
9.65
34.79
24.02
17.53
13.01
9.12
135.20
77.29
45.63
26.70
17.28
0.00
0.00
0.00
0.00
8.70
8.69
8.40
8.47
7.95
15.79
15.23
14.51
13.95
13.55
3.91
4.04
4.23
4.40
15.32
14.07
12.54
11.40
1.18
1.30
1.40
1.60
15.07
13.60
11.90
11.39
11.06
1.46
1.90
2.30
2.55
4.57
26.28
21.94
16.89
14.22
14.47
0.41
0.41
0.41
0.42
7.76
7.99
7.23
6.23
0.94
1.02
1.05
1.08
4.00
3.51
10.44
10.49
9.30
8.50
10.00
0.57
2.34
2.46
2.56
2.29
6.03
5.80
5.60
15.54
14.53
13.54
12.65
11.90
4.84
4.95
5.07
5.21
5.35
5.06
4.60
14.23
14.81
10.47
9.24
1.38
1.32
1.33
7.55
21.12
12.08
9.19
8.00
0.32
0.70
10.00
8.76
13.29
12.60
10.98
9.60
1.83
11.02
10.26
15.71
15.14
13.65
12.51
2.03
7.67
9.35
10.41
9.74
8.76
8.19
7.91
11.45
4.56
2.42
97.95
0.1%
105.80
20.2%
100.44
34.7%
600.48
29.7%
36.38
-0.5%
1.36
49.54
8.7%
1.77
2.71
12.67
3.6%
2.18
2.47
2.87
28.53
0.7%
2.38
2.50
2.70
74.14
4.3%
110.00
6.4%
3.25
7.97
7.52
6.92
5.34
0.80
0.78
0.71
0.70
0.66
12.58
10.50
8.63
9.40
7.86
7.70
6.82
6.50
5.02
17.24
13.68
12.13
10.91
10.15
2.04
2.17
2.41
2.56
BRISTOL-MYERS SQUIBB CO
4.23
4.44
4.22
4.09
3.77
3.99
3.71
3.67
3.49
14.55
16.87
14.78
15.69
12.84
16.03
13.40
14.04
12.16
20.68
22.05
18.66
19.02
17.24
3.37
3.45
3.53
3.60
0.79
0.74
0.69
0.65
1.50
1.44
1.42
1.37
8.89
8.49
8.20
7.55
0.36
1.65
2.56
CATERPILLAR INC
3.17
2.60
2.16
1.89
0.86
0.90
0.83
0.76
0.56
7.21
7.08
6.23
5.37
5.58
5.99
5.21
4.60
9.55
10.86
9.27
7.90
2.26
2.35
2.48
CHEVRON CORP
1.74
1.57
1.42
1.30
0.99
0.99
1.01
0.93
0.86
6.32
5.94
5.79
5.22
3.99
4.07
3.98
3.81
9.80
9.78
9.68
9.18
2.91
3.10
3.27
3.49
2.11
1.90
1.76
1.67
2.40
2.27
2.15
2.02
9.93
9.22
8.93
8.30
5.55
5.28
5.12
4.93
11.29
10.40
9.84
9.10
1.25
2.72
2.80
2.97
CITIGROUP INC
0.70
0.67
0.62
0.58
1.90
1.72
1.67
1.60
12.96
9.04
7.94
6.90
10.94
9.62
8.40
7.34
0.09
0.45
1.56
2.52
COCA-COLA CO/THE
5.63
5.28
4.99
4.75
3.75
3.68
3.52
3.34
3.14
16.67
15.49
14.57
13.27
14.67
13.96
13.04
12.13
11.21
20.23
18.90
17.37
16.03
14.66
2.53
2.77
3.01
3.32
3.54
42.27
4.3%
COLGATE-PALMOLIVE CO
9.76
25.21
23.89
16.17
3.19
3.08
2.91
2.75
2.57
18.46
16.97
15.60
14.22
13.40
12.88
11.82
11.06
9.82
21.80
20.38
18.41
16.81
15.27
2.05
2.28
2.44
2.67
3.11
116.07
-0.6%
COMCAST CORP-CLASS A
2.20
2.19
2.12
1.90
1.73
1.69
1.59
1.53
1.46
7.93
7.35
6.75
6.20
7.77
7.36
6.91
6.51
6.21
21.05
17.38
15.20
13.05
11.27
1.53
1.86
2.10
2.41
2.47
46.62
12.2%
CONOCOPHILLIPS
1.38
1.29
1.20
1.03
1.19
1.39
1.30
1.49
5.46
4.98
4.58
4.59
3.96
4.22
3.87
3.95
4.22
10.57
11.03
9.92
9.69
9.54
4.42
4.45
4.59
4.60
4.38
63.15
4.6%
3.51
4.13
3.73
3.13
0.47
0.43
0.40
0.38
0.35
13.66
14.11
12.94
12.40
11.14
10.09
9.55
8.60
27.30
23.24
21.01
19.28
17.33
0.94
7.82
1.19
1.31
1.24
108.00
2.2%
1.88
1.78
1.69
1.60
0.56
0.55
0.53
0.52
0.49
11.69
10.14
9.22
8.40
8.61
7.92
7.48
7.22
6.50
16.40
14.09
12.68
11.34
10.34
1.16
1.54
1.83
2.39
58.39
4.5%
1.05
1.00
0.91
0.88
2.63
2.34
2.08
1.99
4.91
4.55
3.73
3.60
5.61
4.93
4.13
3.76
17.62
16.11
11.41
8.96
1.28
1.32
1.49
1.55
71.32
25.0%
1.72
1.80
1.66
1.53
0.68
0.65
0.63
0.60
0.57
8.00
7.76
6.24
5.65
EBAY INC
3.36
2.85
2.42
2.13
4.77
4.10
3.58
3.14
2.83
17.27
15.65
12.77
11.05
4.45
3.54
2.93
2.95
1.30
1.26
1.19
1.11
1.05
11.21
9.36
8.52
4.02
3.67
3.56
3.32
2.83
2.76
3.19
3.10
2.91
12.72
10.81
EMC CORP/MA
2.22
1.94
1.75
1.47
2.29
2.12
1.96
1.77
1.62
EMERSON ELECTRIC CO
3.71
3.56
3.18
2.78
1.64
1.59
1.51
1.42
EXELON CORP
1.30
1.23
1.20
1.16
1.45
1.20
1.13
1.14
1.13
2.46
2.25
2.07
1.81
1.67
0.87
0.93
0.91
FEDEX CORP
1.81
1.87
1.65
1.44
1.06
0.72
0.70
FORD MOTOR CO
2.62
2.28
1.87
1.43
1.29
0.41
FREEPORT-MCMORAN COPPER
1.71
1.41
1.23
1.13
1.71
1.71
1.96
1.81
1.66
GENERAL ELECTRIC CO
1.94
1.84
1.74
6.78
5.38
1.02
0.93
GOOGLE INC-CL A
3.76
HALLIBURTON CO
2.36
1.19
1.77
3.15
1.75
7.64
4.79
12.88
4.34
3.57
8.80
90.15
4.0%
36.83
-9.3%
3.16
64.67
17.2%
2.53
112.15
28.9%
3.77
3.56
129.16
6.8%
23.83
14.9%
51.87
16.2%
8.12
7.27
6.54
6.18
5.45
16.66
13.57
10.88
9.11
8.22
3.82
4.07
4.21
4.30
36.29
13.0%
13.49
11.57
10.01
8.53
7.60
21.99
18.79
16.04
13.85
12.35
0.00
0.00
0.00
0.00
60.97
17.8%
7.55
8.36
7.91
7.32
6.50
6.37
14.79
12.41
11.10
9.53
9.10
3.48
3.55
3.64
3.72
3.53
52.18
7.2%
14.69
13.46
10.18
9.53
12.67
11.83
12.32
16.84
14.41
20.07
17.72
15.39
3.50
3.50
3.51
3.55
3.50
55.19
-1.6%
8.19
0.00
0.00
0.00
0.00
30.00
26.5%
2.88
2.95
3.16
3.44
62.00
11.3%
-4.1%
10.65
8.67
7.81
7.00
7.39
7.68
6.93
6.40
5.99
13.98
12.77
11.50
10.27
12.32
11.64
10.60
9.77
8.96
8.59
7.94
7.61
16.60
15.48
13.87
12.65
0.99
5.56
5.96
6.03
5.38
6.20
7.56
7.58
7.74
7.48
7.16
11.78
13.58
14.68
14.22
13.32
6.22
4.55
4.09
4.14
4.95
32.40
0.92
0.93
7.61
7.32
6.80
6.17
5.06
4.71
5.06
4.97
4.68
4.55
11.44
11.34
10.77
9.70
8.41
2.41
2.63
2.81
3.05
3.26
95.00
5.5%
0.66
0.62
0.59
6.94
7.51
6.43
5.68
5.60
5.47
4.66
4.05
3.60
15.00
16.03
12.88
10.62
9.19
0.54
0.57
0.64
0.76
0.82
113.92
16.5%
0.38
0.36
0.34
0.33
7.94
6.56
5.57
4.75
4.07
3.76
3.30
2.65
2.41
9.88
9.46
7.89
6.70
6.05
1.67
2.85
2.90
3.19
3.58
15.01
13.1%
1.37
1.31
1.26
1.27
6.70
4.54
3.89
3.90
4.92
3.35
3.16
3.10
2.67
10.28
7.49
7.18
7.50
5.68
3.78
3.84
3.91
3.92
3.84
40.93
26.0%
0.77
0.78
0.79
0.79
0.78
8.35
8.17
7.70
7.79
5.79
6.14
5.99
5.89
5.44
10.08
10.36
9.75
9.18
9.13
2.85
3.02
3.39
3.66
74.71
6.5%
1.66
1.63
1.60
1.54
1.52
11.22
10.56
9.00
8.19
9.27
8.47
7.64
7.11
15.31
13.79
12.49
11.48
2.99
3.35
3.77
4.06
25.80
11.7%
4.22
3.37
7.24
6.44
5.44
4.53
21.51
20.26
12.44
7.52
16.10
15.90
11.61
8.07
22.75
21.93
15.69
11.20
0.00
0.00
0.00
0.00
49.35
8.5%
0.86
0.79
2.14
2.09
2.02
2.00
9.48
8.67
8.05
7.49
11.94
10.62
9.67
9.06
1.27
1.36
1.42
1.48
154.44
5.8%
3.17
2.69
2.22
6.44
5.60
4.78
4.34
16.77
14.15
11.99
11.00
20.40
17.71
15.08
13.04
0.00
0.00
0.00
0.00
866.85
6.8%
2.06
1.76
1.49
1.31
1.25
1.13
1.05
9.02
8.23
6.73
6.08
13.39
13.18
10.08
8.51
1.04
1.11
1.17
1.43
49.15
23.3%
1.90
3.90
3.86
4.21
10.08
12.22
10.17
8.68
7.48
6.56
6.38
5.23
4.56
6.46
9.05
11.73
Target
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
%D to Spot
2.16
2.16
1.99
1.80
2.16
1.40
1.40
1.33
1.28
1.40
9.99
9.99
9.69
9.48
9.99
8.74
8.74
8.08
7.57
8.74
14.11
14.11
12.64
11.43
14.11
2.21
2.21
2.37
2.56
2.21
1681.4
7.8%
Euro Stoxx 50 Pr
1.14
1.14
1.08
1.02
1.14
0.73
0.73
0.71
0.69
0.73
5.32
5.32
4.97
4.74
5.32
7.00
7.00
6.62
6.30
7.00
11.05
11.05
9.90
9.06
11.05
4.35
4.35
4.68
4.98
4.35
2895.5
9.4%
NIKKEI 225
1.50
1.50
1.41
1.32
1.50
0.70
0.70
0.66
0.65
0.70
9.47
9.47
8.14
7.61
9.47
9.50
9.50
8.28
7.76
9.50
24.04
24.04
18.83
14.58
24.04
1.65
1.65
1.66
1.94
1.65
11916.4
-4.5%
1.68
1.68
1.56
1.35
1.68
1.01
1.01
0.97
0.99
1.01
7.91
7.91
7.28
5.26
7.91
7.04
7.04
6.59
6.32
7.04
11.82
11.82
10.72
9.82
11.82
3.89
3.89
4.18
4.61
3.89
6809.6
6.4%
2.39
2.39
2.22
2.05
2.39
2.00
2.00
1.90
1.82
2.00
12.30
12.30
11.24
9.87
12.30
13.09
13.09
12.11
11.32
13.09
14.91
14.91
13.35
12.12
14.91
3.31
3.31
3.67
4.16
3.31
8026.2
2.8%
1.68
1.68
1.55
1.45
1.68
1.57
1.57
1.48
1.42
1.57
8.40
8.40
7.54
7.00
8.40
8.22
8.22
7.27
6.88
8.22
13.98
13.98
12.32
11.33
13.98
3.14
3.14
3.29
3.49
3.14
14540.6
14.8%
1.88
1.88
1.78
1.68
1.88
1.80
1.80
1.70
1.61
1.80
11.09
11.09
9.90
9.04
11.09
9.54
9.54
8.40
7.80
9.54
15.14
15.14
13.48
12.37
15.14
4.39
4.39
4.70
5.07
4.39
5152.0
4.1%
1.33
1.33
1.23
1.15
1.33
1.73
1.73
1.60
1.49
1.73
7.12
7.12
6.60
6.21
7.12
8.13
8.13
7.39
6.84
8.13
10.80
10.80
9.91
9.02
10.80
3.57
3.57
3.85
4.37
3.57
24942.6
11.8%
MSCI EM
1.43
1.43
1.30
1.21
1.43
0.95
0.95
0.88
0.84
0.95
6.85
6.85
6.30
5.89
6.85
7.03
7.03
6.45
6.05
7.03
10.76
10.76
9.67
8.97
10.76
3.08
3.08
3.59
6.74
3.08
1183.8
15.8%
HEWLETT-PACKARD CO
1.38
1.73
1.49
1.20
0.38
0.40
0.41
0.41
5.06
4.83
4.64
4.47
3.78
4.32
4.42
4.45
5.79
6.76
6.50
6.46
2.16
2.20
2.26
2.42
18.50
-20.7%
HJ HEINZ CO
6.80
7.29
6.48
5.76
1.98
1.97
1.89
1.80
1.73
17.37
15.71
14.48
13.51
13.42
13.17
12.36
11.62
11.29
21.59
20.24
18.94
17.54
16.01
2.66
2.86
3.03
3.26
70.67
-1.9%
5.97
6.19
6.29
7.06
1.41
1.36
1.30
1.26
1.20
16.80
14.50
12.25
11.55
11.89
10.87
9.99
9.39
8.77
22.91
19.88
17.12
15.12
13.41
1.55
2.25
2.61
2.87
72.13
3.2%
4.44
3.80
3.20
2.67
1.57
1.50
1.42
1.37
1.26
15.21
12.67
11.54
10.65
9.65
8.90
8.19
7.81
6.93
16.83
15.27
13.72
12.68
11.30
2.01
2.20
2.46
2.65
78.48
3.8%
INTEL CORP
2.18
1.93
1.76
1.74
1.98
1.96
1.88
1.83
1.85
6.07
5.94
5.53
5.39
4.46
4.64
4.26
4.23
4.07
9.65
10.61
9.83
10.38
4.06
4.26
4.38
4.68
23.39
9.0%
9.47
8.85
7.08
5.60
5.95
2.26
2.22
2.17
2.13
2.07
11.69
10.27
9.43
8.78
9.83
9.05
8.63
8.18
7.70
14.01
12.66
11.53
10.52
10.12
1.54
1.62
1.75
1.74
2.31
224.60
5.8%
3.43
3.03
2.71
2.47
2.17
3.33
3.15
3.03
2.92
2.80
13.07
11.46
10.85
10.41
10.27
9.62
9.03
8.50
8.23
15.75
14.83
13.92
13.05
12.16
2.93
3.10
3.28
3.61
4.01
79.20
-1.3%
9.77
8.86
8.30
7.79
2.45
2.90
3.29
3.68
54.86
12.9%
6.64
6.48
6.32
6.13
5.17
11.08
10.47
10.32
9.49
9.50
4.45
5.01
5.42
5.93
96.17
2.7%
9.79
8.95
8.30
7.56
6.91
21.93
18.20
14.96
12.06
10.12
1.62
1.85
2.04
2.56
40.35
6.2%
14.57
12.61
10.95
9.57
8.85
24.26
21.07
17.75
15.02
0.20
0.27
0.28
0.32
577.34
7.8%
11.05
10.50
9.87
9.17
8.51
18.53
17.00
15.53
14.07
12.48
2.91
3.20
3.51
3.83
102.48
4.0%
9.18
9.24
8.94
8.57
8.39
13.38
12.47
11.93
11.19
10.49
2.14
2.29
2.46
2.71
2.99
50.14
8.9%
11.61
12.15
11.63
11.05
10.07
3.80
3.86
3.93
3.99
4.41
48.69
10.1%
8.34
9.76
3.17
0.95
0.87
0.81
0.76
1.89
1.85
1.81
1.73
9.81
8.72
8.16
7.14
12.75
37.92
20.57
12.58
0.65
0.67
0.68
0.69
0.67
7.98
8.00
7.90
7.61
3.06
3.22
3.34
3.32
0.84
0.80
0.78
0.75
0.71
12.79
10.39
8.79
8.59
MASTERCARD INC-CLASS A
9.07
7.69
6.00
5.19
8.89
7.95
7.07
6.25
5.70
23.32
19.24
16.17
14.51
MCDONALD'S CORP
7.04
6.38
5.80
4.93
3.25
3.59
3.42
3.24
3.04
2.77
14.40
13.05
12.07
MEDTRONIC INC
2.68
2.53
2.21
1.96
1.87
2.87
2.83
2.74
2.66
2.58
10.65
10.11
9.82
9.13
2.36
2.26
2.12
1.98
2.84
2.89
2.85
2.79
2.71
9.38
9.54
9.23
7.86
6.93
8.16
8.08
7.43
METLIFE INC
0.72
0.67
0.62
0.55
0.62
0.60
0.58
0.56
7.35
7.30
6.81
6.25
2.03
2.67
3.04
3.37
44.26
15.4%
MICROSOFT CORP
3.37
2.87
2.32
1.89
3.20
2.97
2.75
2.59
2.66
8.40
7.60
6.84
6.41
5.92
5.67
5.16
4.78
4.97
10.49
9.96
9.00
8.22
2.74
3.21
3.42
3.75
32.90
16.5%
1.61
1.59
1.49
1.47
1.52
1.46
1.38
1.30
1.23
114.45
15.38
12.40
11.62
12.24
11.62
10.79
10.18
9.22
21.03
19.21
17.07
15.29
13.20
1.71
1.77
1.95
2.33
30.13
0.1%
MONSANTO CO
4.61
4.12
3.64
3.17
4.03
3.70
3.47
3.27
3.25
20.89
18.85
16.60
14.51
14.03
12.15
10.99
10.00
9.83
27.72
22.59
19.92
17.68
16.35
1.11
1.25
1.35
1.35
112.45
9.1%
MORGAN STANLEY
0.71
0.68
0.64
0.61
1.58
1.34
1.27
1.21
35.61
9.44
7.87
6.76
16.30
10.59
8.66
7.69
0.93
0.95
1.26
1.42
25.07
13.2%
1.49
1.33
1.19
1.05
0.98
1.52
1.32
1.23
1.16
1.15
12.34
9.67
8.42
8.09
8.66
6.99
6.63
5.93
5.38
6.35
11.99
11.77
10.26
9.22
9.98
0.67
0.72
0.75
0.80
85.63
21.9%
NEWS CORP-CL A
2.72
2.62
2.40
2.16
1.86
2.07
1.98
1.86
1.78
1.70
16.93
12.24
12.58
11.01
10.36
11.96
11.11
9.97
9.11
8.42
21.54
18.03
15.31
12.93
11.23
0.56
0.57
0.57
0.57
32.35
6.9%
5.34
4.74
4.38
3.98
4.93
2.21
2.11
1.95
1.82
1.70
23.42
20.10
17.45
14.92
14.26
13.52
12.03
10.86
10.11
24.06
22.27
19.50
16.98
15.00
1.18
1.36
1.54
1.70
61.72
3.7%
2.38
2.27
2.06
1.87
2.13
2.08
1.96
1.85
1.72
8.03
7.90
6.95
6.78
7.82
7.67
7.02
6.55
5.95
14.18
13.56
11.85
10.53
9.11
2.52
2.76
2.93
3.18
77.71
3.7%
1.52
1.39
1.27
1.21
2.64
2.43
2.31
2.39
5.56
5.10
4.73
4.25
4.87
4.28
3.96
4.13
11.18
10.69
9.98
9.47
2.84
3.01
3.45
3.81
101.16
30.5%
ORACLE CORP
3.57
3.26
2.66
2.25
4.00
3.97
3.76
3.56
3.30
11.87
10.46
9.91
9.10
PEPSICO INC
5.71
5.33
5.21
5.10
1.86
1.79
1.71
1.63
1.56
14.40
12.67
11.65
10.54
PFIZER INC
2.62
2.50
2.46
2.32
3.51
3.56
3.62
3.63
3.54
11.18
9.63
9.07
4.78
4.63
4.37
4.16
4.01
14.97
13.30
3.74
10.38
9.00
3.35
2.29
0.71
7.30
7.40
6.76
6.27
13.03
11.70
10.73
9.82
0.76
0.93
0.82
0.93
37.88
20.4%
11.62
10.91
10.33
9.69
8.89
19.40
17.96
16.52
15.13
13.45
2.69
2.85
3.07
3.29
3.57
80.15
1.7%
8.51
7.19
7.59
7.61
7.85
7.85
13.17
12.51
12.03
11.61
10.92
3.08
3.33
3.52
3.67
3.95
30.30
6.4%
12.18
11.59
11.53
10.94
10.25
9.61
9.31
17.54
15.86
14.27
12.92
12.20
3.58
3.98
4.41
4.88
5.32
96.54
5.6%
10.11
20.29
19.06
17.71
16.21
14.70
2.73
2.94
3.17
3.38
3.76
79.29
2.4%
12.76
11.09
1.35
1.51
1.70
2.03
75.85
14.3%
9.32
3.40
3.82
4.21
4.60
56.67
-1.8%
1.48
1.65
1.77
1.89
91.33
23.1%
10.2%
8.46
3.32
3.33
3.24
3.02
2.52
2.50
2.41
2.30
2.20
16.85
15.22
14.83
12.79
12.89
12.45
11.66
10.93
QUALCOMM INC
3.46
3.00
2.63
2.34
6.03
4.72
4.24
4.05
3.96
16.64
13.60
12.83
12.51
11.65
9.38
8.57
7.89
18.24
14.72
13.52
RAYTHEON COMPANY
2.21
2.15
2.08
1.91
0.77
0.79
0.80
0.81
0.75
10.56
9.59
10.00
7.89
5.82
6.29
6.24
5.61
10.41
10.82
10.37
8.44
SCHLUMBERGER LTD
2.79
2.57
2.22
1.88
2.33
2.13
1.91
1.76
12.29
10.22
8.75
8.46
9.32
8.43
7.34
6.48
17.69
15.71
12.82
11.26
8.11
2.53
8.66
8.16
10.29
10.00
9.51
9.01
23.72
22.16
19.46
17.10
20.33
18.83
17.72
16.07
37.73
45.51
39.69
16.59
2.60
2.95
3.18
3.58
3.95
176.06
SOUTHERN CO/THE
2.10
2.03
1.94
1.86
2.29
2.22
2.14
2.06
1.86
8.93
8.98
8.63
8.23
10.23
9.68
9.13
8.66
7.85
17.57
16.69
15.84
15.07
14.04
4.23
4.38
4.52
4.68
4.89
45.46
-1.3%
STARBUCKS CORP
8.01
7.44
6.60
5.41
3.74
3.20
2.86
2.55
2.26
2.00
22.55
18.31
15.90
13.54
15.93
13.45
11.37
9.73
8.89
32.00
26.33
21.69
18.09
15.79
1.22
1.50
1.78
2.16
63.88
12.1%
TARGET CORP
2.71
2.58
2.40
2.21
1.98
0.60
0.58
0.55
0.51
0.49
8.48
5.29
6.80
6.07
8.10
8.16
7.41
7.02
6.62
14.31
13.54
12.19
10.36
9.20
1.93
2.17
2.47
2.93
71.42
4.6%
3.56
3.56
3.47
3.42
3.00
3.15
2.95
2.83
2.60
13.44
12.28
10.78
10.49
11.42
11.19
9.55
9.12
8.16
21.06
20.29
16.13
14.67
15.43
2.05
2.87
3.07
3.21
34.19
-1.6%
1.71
1.53
1.56
1.40
1.84
1.78
1.70
1.63
1.55
12.70
11.47
10.63
9.22
10.12
9.37
8.68
8.12
7.58
17.66
15.42
13.34
11.64
9.99
1.84
2.01
2.16
2.27
3.30
2.99
2.69
2.37
3.11
2.96
2.76
2.61
2.49
10.93
9.79
8.71
8.32
8.59
7.90
7.20
6.61
6.17
16.87
14.82
12.97
11.47
10.33
1.76
2.00
2.23
2.61
10.47
13.22
11.54
10.59
1.49
1.42
1.34
1.26
1.16
12.80
10.79
9.15
9.59
9.61
8.94
8.19
7.62
6.28
18.49
16.93
14.86
13.24
11.20
2.68
2.89
3.11
3.44
3.34
2.94
2.66
2.29
1.47
1.31
1.24
1.19
1.09
13.15
11.91
10.14
9.21
11.30
9.69
8.80
8.30
7.67
17.46
15.26
13.30
11.85
10.77
2.16
2.36
2.56
2.78
100.95
8.3%
1.91
1.63
1.45
1.30
0.52
0.46
0.42
0.36
0.38
9.35
7.69
7.56
6.34
6.02
5.48
5.27
5.33
10.52
10.04
9.25
8.26
6.79
1.36
1.60
1.59
1.53
66.56
20.2%
US BANCORP
1.81
1.65
1.54
1.43
3.10
3.06
2.95
2.81
11.25
10.62
9.86
8.91
11.75
10.98
10.50
10.15
8.85
2.30
2.63
2.94
3.44
3.54
3.64
3.46
3.52
1.22
1.17
1.13
1.10
1.06
4.62
3.91
3.80
3.54
6.38
5.87
5.51
5.27
5.10
20.88
17.91
15.72
14.18
13.49
4.08
4.20
4.30
4.45
3.93
3.73
3.26
2.97
10.65
9.52
8.53
7.59
6.86
23.67
22.22
16.77
16.21
18.06
14.03
12.36
10.76
9.97
27.08
22.77
19.61
17.03
14.91
0.52
0.76
0.84
3.24
2.95
2.71
2.37
0.53
0.51
0.49
0.46
0.44
9.53
9.09
8.23
7.22
8.25
7.97
7.58
7.46
7.30
15.17
13.93
12.70
11.56
10.28
2.16
2.49
2.74
WALGREEN CO
2.56
2.27
2.09
1.98
0.63
0.62
0.59
0.57
0.46
11.49
12.70
11.80
9.08
10.05
8.67
7.88
7.59
5.02
18.38
14.56
12.83
11.84
10.00
1.97
2.27
2.49
2.40
2.23
2.01
2.39
2.26
2.12
1.98
1.88
12.90
11.45
10.31
9.19
10.55
9.65
8.83
8.07
7.70
18.33
16.40
14.53
12.69
11.45
1.06
1.37
1.24
1.14
1.06
2.29
2.29
2.26
2.18
10.40
9.72
9.07
8.12
11.13
10.19
9.54
8.96
8.54
4.88
3.96
4.26
3.30
3.34
3.07
2.70
2.64
14.23
14.35
10.94
11.16
33.33
36.55
26.00
23.46
22.19
1.51
4.35
2.08
2.17
5.56
6.56
8.36
15.02
14.13
11.09
10.88
10.24
2.70
3.83
60.80
7.2%
149.04
7.0%
90.68
6.8%
36.88
9.5%
48.84
-1.3%
0.89
173.91
4.1%
3.29
77.23
3.3%
2.50
2.91
47.71
0.8%
1.22
1.36
1.40
61.36
8.5%
2.37
2.81
3.16
3.62
39.64
6.8%
3.30
3.92
4.74
5.58
38.00
2.1%
4.53
1.86
5.50
26.03.2013
3M Co
3M Co. conducts operations in electronics, telecommunications, industrial,
consumer and office, health care, safety, and other markets. The Company's
businesses share technologies, manufacturing operations, brands, marketing
channels, and other resources. 3M serves customers in countries located around
the world.
Price/Volume
6.0 M
5.0 M
4.0 M
60
12/2012
12/yy
106.88
81.99
155'215.00
106.03
-0.80%
29.32%
93.13%
690.0
73'159.66
6'001.00
0.0
465.0
5'693.00
73'932.67
3.0 M
40
2.0 M
20
1.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
7.0 M
100
80
Valuation Analysis
31.12.2008
25'269.0
1.76x
6'394.0
6.96x
3'460.0
11.13x
120
31.12.2009
31.12.2010
23'123.0
26'662.0
2.61x
2.33x
5'971.0
7'038.0
10.11x
8.84x
3'193.0
4'085.0
17.63x
15.01x
Profitability
LTM-4Q
31.12.2011
29'611.0
1.95x
7'414.0
7.80x
4'283.0
13.71x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
29'904.0
2.16x
7'771.0
8.31x
4'444.0
14.69x
7'771.00
6'483.00
21.68%
21.24%
13.57%
26.94%
20.56%
0.91%
47.5%
26.0%
21.7%
14.9%
2.20
1.39
17.71%
34.15%
7.54
4.33
12/yy
29'611
8.30x
7'414.0
7.80x
4'283.0
13.71x
LTM
12/yy
29'904
8.52x
7'771.0
8.31x
4'444.0
14.62x
FY+1
2.23
0.98
689.13
9.77
22.11%
14.90%
0.985
21
3.857
751'874
785'913
784'801
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
31'485
33'191
7'814
7'955
2.40x
2.25x
9.80x
9.60x
8'259.3
8'881.1
1'985.0
2'108.5
8.95x
8.32x
8.89x
4'754.7
5'161.1
1'159.8
1'234.6
15.53x
14.23x
15.52x
S&P Issuer Ratings
18.03.2009
AASTABLE
23.11.1981
A-1+
40.06
32.41
0.04
0.77
34.1%
25.0%
0.91
3.73
48.52
84.62
38.69
94.45
Sales/Revenue/Turnover
16.00
35'000.0
14.00
30'000.0
12.00
25'000.0
10.00
20'000.0
8.00
15'000.0
6.00
10'000.0
4.00
5'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
3M Co
Holdings By:
All
Holder Name
STATE STREET
BLACKROCK
VANGUARD GROUP INC
VANGUARD GROUP INC
SUN LIFE FINANCIAL I
T ROWE PRICE ASSOCIA
STATE FARM MUTUAL AU
NORTHERN TRUST CORPO
BANK OF AMERICA CORP
WELLS FARGO
BANK OF NEW YORK MEL
WELLINGTON MANAGEMEN
US BANCORP
FIDUCIARY MANAGEMENT
FMR LLC
JP MORGAN
FIRST EAGLE INVESTME
STATE FARM MUTUAL AU
NORGES BANK
UBS
Firm Name
Sanford C. Bernstein & Co
Goldman Sachs
Morgan Stanley
William Blair & Co
Edward Jones
Tigress Financial Partners
Argus Research Corp
S&P Capital IQ
JPMorgan
Deutsche Bank
Jefferies
FBR Capital Markets
Nomura
Barclays
Credit Suisse
Hilliard Lyons
EVA Dimensions
Langenberg & Co
McAdams Wright Ragen Inc
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
Multiple Portfolios
n/a
T ROWE PRICE ASSOCIA
STATE FARM MUTUAL AU
NORTHERN TRUST CORPO
BANK OF AMERICA
n/a
BANK OF NEW YORK MEL
WELLINGTON MANAGEMEN
US BANCORP
FIDUCIARY MANAGEMENT
n/a
n/a
FIRST EAGLE INVESTME
STATE FARM MUTUAL AU
NORGES BANK
n/a
Analyst
STEVEN E WINOKER
JOSEPH RITCHIE
NIGEL COE
JOHN C KREGER
MATT ARNOLD
IVAN FEINSETH
NATHANIEL GABRIEL
RICHARD TORTORIELLO
CHARLES STEPHEN TUSA
DAVID I BEGLEITER
LAURENCE ALEXANDER
AJAY K KEJRIWAL
SHANNON O'CALLAGHAN
SCOTT R DAVIS
JOHN P MCNULTY
STEPHEN A O'NEIL
CRAIG STERLING
BRIAN KEITH LANGENBERG
MICHAEL ROARKE
Source
ULT-AGG
ULT-AGG
13F
MF-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
Sch-D
13F
ULT-AGG
Recommendation
market perform
neutral/neutral
Overwt/In-Line
market perform
buy
buy
hold
buy
underweight
hold
buy
outperform
neutral
equalweight
neutral
long-term buy
buy
hold
focus list
Amt Held
51'923'138
41'038'740
34'373'821
23'813'084
19'002'823
13'771'070
11'131'700
9'940'996
8'915'016
7'874'449
7'575'863
7'380'783
7'363'661
7'094'958
6'497'093
6'488'876
5'714'251
5'420'390
5'326'652
4'327'212
% Out
7.53
5.95
4.98
3.45
2.75
2
1.61
1.44
1.29
1.14
1.1
1.07
1.07
1.03
0.94
0.94
0.83
0.79
0.77
0.63
Weighting
Change
3
3
5
3
5
5
3
5
1
3
5
5
3
3
3
5
5
3
5
M
N
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
N
Latest Chg
81'909
810'598
(974'867)
(184'132)
33'100
(35'455)
2'510'797
(174'878)
(282'861)
87'111
(463'733)
37'123
1'596'070
723'798
60'000
(12'452)
169'424
(229'170)
Target Price
116
115
113
101
#N/A N/A
#N/A N/A
#N/A N/A
110
97
108
115
110
105
104
103
125
#N/A N/A
100
85
File Dt
Inst Type
25.03.2013
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Insurance Company
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012 Hedge Fund Manager
30.09.2012
Insurance Company
31.12.2012
Government
31.01.2013
Unclassified
Date
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
9 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Date
22.03.2013
20.03.2013
17.03.2013
17.03.2013
08.03.2013
06.03.2013
13.02.2013
06.02.2013
28.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
24.01.2013
24.01.2013
15.01.2013
23.10.2012
24.04.2009
26.03.2013
Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells a broad and
diversified line of health care products and services. The Company's products
include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott
markets its products worldwide through affiliates and distributors.
Price/Volume
40
18.0 M
35
16.0 M
30
14.0 M
12.0 M
25
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (19.02.2013)
52-Week Low (19.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
ABT UN EQUITY YTD Change
ABT UN EQUITY YTD % CHANGE
12/2012
12/yy
35.28
28.25
405'908.00
34.04
-3.51%
20.50%
78.95%
1'570.7
53'465.85
20'475.96
0.0
92.3
15'173.98
58'860.10
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
8.0 M
15
6.0 M
10
4.0 M
2.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
10.0 M
20
31.12.2009
31.12.2010
30'764.7
35'166.7
2.94x
2.49x
9'212.3
9'025.1
9.80x
9.71x
5'745.8
4'626.2
14.51x
11.49x
Profitability
LTM-4Q
31.12.2011
38'851.3
2.46x
9'468.3
10.11x
4'728.4
12.07x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
39'873.9
2.73x
11'155.7
9.74x
5'962.9
12.92x
11'155.72
8'372.52
21.00%
15.71%
9.35%
23.31%
14.96%
0.63%
62.1%
29.9%
22.9%
15.0%
2.36
1.72
30.45%
76.63%
5.21
4.24
LTM
12/yy
38'850.8
9.37x
9'467.9
10.11x
4'728.8
11.86x
12/yy
39'874.0
10.95x
11'906.4
9.13x
5'962.5
12.92x
FY+1
4.91
0.68
1'565.64
18.55
19.94%
9.07%
0.683
26
3.846
1'810'552
2'025'673
2'573'562
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
22'713.3
24'070.8
5'415.1
5'637.5
2.31x
2.07x
9.79x
9.44x
6'164.6
6'774.2
975.5
1'040.5
9.55x
8.69x
13.14x
3'053.5
3'466.9
565.8
638.1
17.26x
15.40x
17.19x
16.57x
S&P Issuer Ratings
26.10.2012
A+
STABLE
26.10.2012
A-1+
18.25
15.31
0.45
1.72
76.6%
43.3%
0.63
5.00
70.20
86.37
41.53
114.66
Sales/Revenue/Turnover
7.00
45'000.0
6.00
40'000.0
35'000.0
5.00
30'000.0
4.00
25'000.0
3.00
20'000.0
15'000.0
2.00
10'000.0
1.00
0.00
01.01.2010
5'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Abbott Laboratories
Holdings By:
All
Holder Name
BLACKROCK
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
FMR LLC
BANK OF AMERICA CORP
JP MORGAN
STATE FARM MUTUAL AU
GRANTHAM MAYO VAN OT
TIAA CREF INVESTMENT
WELLINGTON MANAGEMEN
NORGES BANK
GOLDMAN SACHS GROUP
UBS
GEODE CAPITAL MANAGE
STATE FARM MUTUAL AU
FRANKLIN RESOURCES
Firm Name
Edward Jones
Wells Fargo Securities, LLC
BMO Capital Markets
Leerink Swann & Co
Stifel
Morgan Stanley
Jefferies
William Blair & Co
Barclays
Sanford C. Bernstein & Co
JPMorgan
Argus Research Corp
RBC Capital Markets
Raymond James
Goldman Sachs
Hilliard Lyons
Cowen and Company
Atlantic Equities LLP
Deutsche Bank
S&P Capital IQ
First Global Stockbroking
Maxim Group LLC
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
n/a
BANK OF AMERICA
n/a
STATE FARM MUTUAL AU
GRANTHAM MAYO VAN OT
TIAA-CREF INVESTMENT
WELLINGTON MANAGEMEN
NORGES BANK
GOLDMAN SACHS GROUP
n/a
GEODE CAPITAL MANAGE
STATE FARM MUTUAL AU
n/a
Analyst
JEFF WINDAU
LAWRENCE BIEGELSEN
JOANNE K WUENSCH
DANIELLE ANTALFFY
FREDERICK A WISE
DAVID R LEWIS
JEFFREY HOLFORD
BENJAMIN C ANDREW
MATTHEW TAYLOR
DERRICK SUNG
MICHAEL N WEINSTEIN
DAVID H TOUNG
GLENN J NOVARRO
JAYSON BEDFORD
DAVID H ROMAN
STEPHEN A O'NEIL
DOUG SCHENKEL
STEPHAN B GASTEYGER
KRISTEN M STEWART
HERMAN SAFTLAS
KAVITA THOMAS
ANTHONY PETRONE
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
Sch-D
ULT-AGG
Recommendation
buy
outperform
outperform
market perform
buy
Equalwt/In-Line
buy
outperform
equalweight
market perform
neutral
hold
outperform
market perform
neutral/neutral
long-term buy
neutral
neutral
hold
buy
long-term outperform
not rated
Amt Held
86'070'356
75'358'478
70'873'178
66'155'796
43'566'671
30'872'209
26'067'769
25'816'792
17'459'656
16'598'734
15'061'000
14'592'726
14'404'871
13'409'746
12'625'176
11'768'897
11'094'617
10'467'807
10'018'233
8'699'080
% Out
5.48
4.8
4.51
4.21
2.77
1.97
1.66
1.64
1.11
1.06
0.96
0.93
0.92
0.85
0.8
0.75
0.71
0.67
0.64
0.55
Weighting
Change
5
5
5
3
5
3
5
5
3
3
3
3
5
3
3
5
3
3
3
5
5
#N/A N/A
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
Latest Chg
1'796'533
(2'293'700)
2'103'611
2'584'292
1'606'179
(918'489)
1'555'575
(2'094'242)
(2'822'927)
156'217
(338'480)
(1'857'915)
1'276'928
261'139
(104'485)
(914'813)
3'796
(390'744)
Target Price
#N/A N/A
#N/A N/A
36
#N/A N/A
40
#N/A N/A
40
#N/A N/A
35
31
34
#N/A N/A
37
#N/A N/A
36
40
#N/A N/A
33
33
36
#N/A N/A
#N/A N/A
File Dt
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
30.09.2012
31.12.2012
Date
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
9 month
Not Provided
12 month
Not Provided
12 month
24 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Insurance Company
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Unclassified
Investment Advisor
Insurance Company
Investment Advisor
Date
22.03.2013
21.03.2013
20.03.2013
19.03.2013
19.03.2013
18.03.2013
14.03.2013
11.03.2013
21.02.2013
20.02.2013
19.02.2013
13.02.2013
24.01.2013
24.01.2013
23.01.2013
23.01.2013
16.01.2013
14.01.2013
04.01.2013
29.11.2012
26.04.2012
27.01.2009
26.03.2013
AbbVie Inc
AbbVie Inc. researches and develops pharmaceutical products. The Company
produces pharmaceutical drugs for specialty therapeutic areas such as
immunology, chronic kidney disease, Hepatitis C, women's health, oncology, and
neuroscience. AbbVie also offers treatments for diseases including Multiple
Sclerosis, Parkinson's, and Alzheimer's disease.
Price/Volume
45
12.0 M
40
10.0 M
35
30
8.0 M
25
12/2012
01/yy
40.25
32.51
570'439.00
40.21
0.00%
23.69%
97.15%
1'577.3
63'424.60
17'911.00
7'976.00
73'359.60
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
Price/ Cash Flow
1.20
15
4.0 M
10
2.0 M
5
0
d-12
.0 M
j-13
f-13
m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
6.0 M
20
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (17.12.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
ABBV UN EQUITY YTD Change
ABBV UN EQUITY YTD % CHANGE
31.12.2009
31.12.2010
14'214.2
15'637.7
5'799.3
6'214.3
4'636.5
4'177.9
Profitability
31.12.2011
17'444.0
5'565.4
3'433.1
-
31.12.2012
18'380.0
3.47x
7'255.0
8.80x
5'275.0
9.84x
7'255.00
6'105.00
33.22%
31.15%
75.5%
28.7%
2.27
1.71
66.32%
532.59%
-
LTM-4Q
LTM
01/yy
01/yy
-
FY+1
-
1'576.67
12.48
19.10%
15
3.800
1'242'850
1'406'428
1'839'323
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
18'406.6
18'740.4
4'277.5
4'561.0
3.91x
3.80x
7'294.3
7'362.0
1'599.7
1'858.3
10.06x
9.96x
10.03x
4'920.5
5'032.0
1'046.5
1'240.7
12.97x
12.66x
13.00x
13.00x
S&P Issuer Ratings
26.10.2012
A
POS
26.10.2012
A-1
86.37
82.40
532.6%
84.2%
-260.37
Sales/Revenue/Turnover
20'000.0
18'000.0
1.00
16'000.0
14'000.0
0.80
0.60
0.40
12'000.0
10'000.0
8'000.0
6'000.0
4'000.0
0.20
2'000.0
0.0
0.00
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
AbbVie Inc
Holdings By:
All
Holder Name
BLACKROCK
STATE STREET
SUN LIFE FINANCIAL I
NORTHERN TRUST CORPO
T ROWE PRICE ASSOCIA
BANK OF NEW YORK MEL
CAPITAL GROUP COMPAN
EATON VANCE MANAGEME
PRINCIPAL FINANCIAL
FMR LLC
HEALTHCOR MANAGEMENT
BANK OF AMERICA CORP
OPPENHEIMERFUNDS INC
NUVEEN ASSET MANAGEM
WELLINGTON MANAGEMEN
HARDING LOEVNER LP
JOHN HANCOCK INVESTM
JP MORGAN
PIONEER INVESTMENT M
MONTAG & CALDWELL IN
Firm Name
Wells Fargo Securities, LLC
Edward Jones
Jefferies
BMO Capital Markets
Credit Suisse
Morgan Stanley
Goldman Sachs
Hilliard Lyons
JPMorgan
Barclays
Atlantic Equities LLP
EVA Dimensions
Portfolio Name
n/a
n/a
n/a
NORTHERN TRUST CORPO
T ROWE PRICE ASSOCIA
Multiple Portfolios
n/a
Multiple Portfolios
n/a
n/a
HEALTHCOR MANAGEMENT
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
WELLINGTON MANAGEMEN
HARDING LOEVNER LP
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Analyst
MICHAEL K TONG
JUDSON CLARK
JEFFREY HOLFORD
ALEX ARFAEI
CATHERINE J ARNOLD
DAVID R RISINGER
JAMI E RUBIN
STEPHEN A O'NEIL
CHRISTOPHER T SCHOTT
CHARLES ANTHONY BUTLER
RICHARD J PURKISS
ANDREW S ZAMFOTIS
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
MF-AGG
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
13F
MF-AGG
MF-AGG
MF-AGG
13F
13F
MF-AGG
ULT-AGG
MF-AGG
MF-AGG
Recommendation
outperform
hold
buy
outperform
neutral
Equalwt/In-Line
buy/attractive
neutral
neutral
equalweight
neutral
buy
Amt Held
82'921'627
29'371'634
13'766'549
9'133'059
8'324'029
8'280'437
5'416'582
4'639'198
4'202'044
3'846'534
3'100'000
3'082'582
2'395'110
2'009'121
1'748'600
1'637'658
1'631'693
1'620'616
1'614'695
1'606'450
% Out
5.26
1.86
0.87
0.58
0.53
0.52
0.34
0.29
0.27
0.24
0.2
0.2
0.15
0.13
0.11
0.1
0.1
0.1
0.1
0.1
Weighting
Change
5
3
5
5
3
3
5
3
3
3
3
5
M
M
M
M
N
M
M
M
M
M
M
M
Latest Chg
(32'393)
13'757'785
9'133'059
8'324'029
8'260'623
5'416'582
4'639'198
17'457
3'846'534
3'100'000
3'082'582
2'395'110
439'299
1'748'600
1'637'658
1'631'693
1'620'616
1'614'695
(1'247'800)
Target Price
#N/A N/A
#N/A N/A
45
41
37
36
42
#N/A N/A
38
37
37
#N/A N/A
File Dt
Inst Type
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.01.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.01.2013
Investment Advisor
28.02.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.01.2013
Investment Advisor
31.01.2013
Investment Advisor
28.02.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.01.2013 Mutual Fund Manager
31.01.2013
Unclassified
31.01.2013
Investment Advisor
28.02.2013
Investment Advisor
Date
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
9 month
Not Provided
12 month
Not Provided
Date
22.03.2013
01.03.2013
15.02.2013
11.02.2013
07.02.2013
31.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
17.01.2013
15.01.2013
26.03.2013
Accenture PLC
Accenture PLC provides management and technology consulting services and
solutions. The Company delivers a range of specialized capabilities and
solutions to clients across all industries on a worldwide basis. Accenture's
network of businesses provides consulting, technology, outsourcing, and
alliances.
Price/Volume
3.0 M
2.5 M
60
08/2012
11/yy
78.46
54.94
166'912.00
74.4
-5.14%
35.42%
78.53%
644.3
51'815.65
0.03
0.0
478.6
6'642.79
46'621.78
50
2.0 M
40
1.5 M
30
1.0 M
20
.5 M
10
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
3.5 M
80
70
Valuation Analysis
31.08.2008
25'313.8
1.08x
3'525.9
7.76x
1'691.8
15.55x
90
31.08.2009
31.08.2010
23'171.0
23'094.1
0.85x
0.90x
3'391.7
3'399.1
5.79x
6.14x
1'590.0
1'780.7
12.36x
13.71x
Profitability
LTM-4Q
31.08.2011
27'352.9
1.19x
3'985.2
8.16x
2'277.7
15.76x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.08.2012
29'778.0
1.19x
4'466.8
7.95x
2'553.5
16.04x
4'466.78
3'873.24
13.01%
13.11%
16.47%
63.10%
62.70%
1.88%
30.2%
15.2%
13.2%
8.6%
1.55
1.20
0.00%
0.00%
8.75
13.94
LTM
11/yy
28'463.8
4.72x
4'152.1
8.55x
2'385.0
16.32x
11/yy
29'856.9
4.91x
4'541.7
9.05x
2'610.2
17.24x
FY+1
2.00
1.13
641.79
6.66
15.44%
11.88%
1.126
29
4.138
760'784
761'278
827'871
FY+2
FQ+1
FQ+2
08/13 Y
08/14 Y
02/13 Q2 05/13 Q3
29'240.5
31'130.1
7'074.9
7'580.8
1.54x
1.39x
6.72x
6.19x
4'766.3
5'053.9
1'119.6
1'305.6
9.78x
9.22x
9.51x
9.37x
2'974.2
3'202.0
678.1
814.3
17.38x
15.83x
16.96x
16.51x
S&P Issuer Ratings
22.01.2002
A+
STABLE
296.58
271.88
-1.25
0.00
0.0%
0.0%
1.88
38.64
41.84
26.25
15.77
47.04
Sales/Revenue/Turnover
16.00
35'000.0
14.00
30'000.0
12.00
25'000.0
10.00
20'000.0
8.00
15'000.0
6.00
10'000.0
4.00
5'000.0
2.00
0.00
04.09.2009
0.0
04.03.2010
04.09.2010
04.03.2011
04.09.2011
04.03.2012
04.09.2012
04.03.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Accenture PLC
Holdings By:
All
Holder Name
SUN LIFE FINANCIAL I
BLACKROCK
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
FMR LLC
STATE STREET
MORGAN STANLEY
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
THORNBURG INVESTMENT
NORTHERN TRUST CORPO
FIDUCIARY MANAGEMENT
AMERIPRISE FINANCIAL
LANSDOWNE PARTNERS L
CALAMOS ADVISORS LLC
TIAA CREF INVESTMENT
BROWN ADVISORY INC
LONGVIEW PARTNERS (G
Firm Name
JPMorgan
BMO Capital Markets
Janney Montgomery Scott LLC
Barclays
Robert W. Baird & Co
Sanford C. Bernstein & Co
Stifel
Cowen and Company
Susquehanna Financial Group
Edward Jones
Wells Fargo Securities, LLC
Jefferies
Deutsche Bank
Societe Generale
BB&T Capital Markets
Berenberg Bank
S&P Capital IQ
Evercore Partners
BNP Paribas Equity Research
EVA Dimensions
Goldman Sachs
Morgan Stanley
Argus Research Corp
Raymond James
Atlantic Equities LLP
Credit Agricole Securities (USA)
Credit Suisse
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
n/a
n/a
n/a
Multiple Portfolios
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
THORNBURG INVESTMENT
NORTHERN TRUST CORPO
FIDUCIARY MANAGEMENT
AMERIPRISE FINANCIAL
LANSDOWNE PARTNERS L
CALAMOS ADVISORS LLC
TIAA-CREF INVESTMENT
n/a
LONGVIEW PARTNERS (G
Analyst
TIEN-TSIN HUANG
KEITH F BACHMAN
JOSEPH D FORESI
DARRIN D PELLER
DAVID J KONING
RODERICK BOURGEOIS
DAVID M GROSSMAN
MOSHE KATRI
JAMES E FRIEDMAN
JOSH OLSON
EDWARD S CASO JR
JASON KUPFERBERG
BRYAN KEANE
RICHARD NGUYEN
GEORGE A PRICE
DAUD KHAN
DYLAN CATHERS
DAVID M TOGUT
ARVIND RAMNANI
ANDREW S ZAMFOTIS
JULIO C QUINTEROS JR
KATHRYN HUBERTY
JAMES KELLEHER
BRIAN GESUALE
CHRISTOPHER HICKEY
NIMISH JOSHI
GEORGE MIHALOS
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
MF-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
Recommendation
overweight
market perform
buy
equalweight
neutral
outperform
buy
outperform
Positive
hold
outperform
hold
buy
hold
hold
hold
buy
overweight
hold
buy
neutral/neutral
Overwt/In-Line
buy
outperform
overweight
outperform
neutral
Amt Held
41'455'509
30'426'034
29'945'297
28'928'721
27'506'823
24'765'618
19'497'911
18'631'830
16'985'346
16'389'070
15'959'507
11'742'375
10'487'978
7'831'119
7'454'100
7'325'230
6'456'713
6'365'635
6'257'039
6'213'974
% Out
6.43
4.72
4.65
4.49
4.27
3.84
3.03
2.89
2.64
2.54
2.48
1.82
1.63
1.22
1.16
1.14
1
0.99
0.97
0.96
Weighting
Change
5
3
5
3
3
5
5
5
4
3
5
3
5
3
3
3
5
5
3
5
3
5
5
5
5
5
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
Latest Chg
3'035'990
(1'642'075)
579'952
552'254
4'281'683
319'800
(259'970)
(301'242)
(2'143'379)
(569'635)
3'797'405
307'876
516'205
(978'608)
643'228
1'151'240
217'950
(389'821)
268'050
Target Price
77
72
83
74
78
79
80
#N/A N/A
88
#N/A N/A
#N/A N/A
73
87
74
#N/A N/A
69
79
86
71
#N/A N/A
72
77
80
76
76
70
70
File Dt
Inst Type
31.01.2013
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
9 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
Date
26.03.2013
25.03.2013
25.03.2013
25.03.2013
21.03.2013
21.03.2013
20.03.2013
20.03.2013
20.03.2013
19.03.2013
19.03.2013
18.03.2013
11.03.2013
07.03.2013
07.03.2013
06.03.2013
27.02.2013
24.01.2013
17.01.2013
15.01.2013
09.01.2013
20.12.2012
20.12.2012
20.12.2012
20.12.2012
20.12.2012
19.12.2012
26.03.2013
Allstate Corp/The
The Allstate Corporation, through its subsidiaries, provides property-liability
insurance, as well as other types of insurance in the United States and Canada.
The Company primarily sells private passenger automobile and homeowners
insurance through independent and specialized brokers. Allstate also sells life
insurance, annuity, and group pension products through agents.
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (25.03.2013)
52-Week Low (12.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 01.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
ALL UN EQUITY YTD Change
ALL UN EQUITY YTD % CHANGE
Price/Volume
12/2012
12/yy
48.97
31.94
168'876.00
48.62
-0.71%
52.22%
97.12%
477.4
23'213.44
6'307.00
0.0
0.0
806.00
28'714.44
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
3.0 M
50
2.5 M
40
2.0 M
30
1.5 M
20
1.0 M
10
.5 M
0
m-12
31.12.2009
31.12.2010
32'013.0
31'400.0
0.67x
0.71x
854.0
928.0
8.63x
11.23x
Profitability
LTM-4Q
31.12.2011
32'654.0
0.59x
787.0
21.58x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
33'315.0
0.74x
2'306.0
9.21x
11.09%
9.92%
1.83%
11.86%
9.97%
0.26%
6.9%
4.97%
30.65%
-
m-12
j-12
j-12
LTM
12/yy
32'654.0
2.42x
0.0
0.00x
787.0
21.08x
a-12
12/yy
33'315.0
2.81x
0.0
0.00x
2'306.0
9.26x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
1.81
0.94
469.32
5.55
50.44%
21.70%
0.942
29
4.172
750'175
878'612
783'848
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
33'586.6
34'249.0
8'292.4
8'387.7
0.88x
0.85x
2'174.3
2'255.5
598.8
520.5
10.37x
9.47x
10.39x
10.16x
S&P Issuer Ratings
ANEG
30.6%
23.5%
0.26
-
Sales/Revenue/Turnover
10.00
40'000.0
9.00
35'000.0
8.00
30'000.0
7.00
25'000.0
6.00
5.00
20'000.0
4.00
15'000.0
3.00
10'000.0
2.00
5'000.0
1.00
0.00
01.01.2010
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
60
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Allstate Corp/The
Holdings By:
All
Holder Name
BLACKROCK
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
STATE STREET
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
INVESCO LTD
HOTCHKIS & WILEY CAP
ALLIANZ ASSET MANAGE
ARTISAN PARTNERS HOL
NORTHERN TRUST CORPO
NORTHERN TRUST CORPO
LSV ASSET MANAGEMENT
PZENA INVESTMENT MAN
AMERIPRISE FINANCIAL
MACQUARIE GROUP
BANK OF NEW YORK MEL
AMERICAN CENTURY COM
AJO, LP
DISCOVERY CAPITAL MA
Firm Name
Goldman Sachs
Credit Suisse
Keefe, Bruyette & Woods
FBR Capital Markets
William Blair & Co
Edward Jones
Sanford C. Bernstein & Co
Portales Partners
Raymond James
Drexel Hamilton LLC
Barclays
Macquarie
Wells Fargo Securities, LLC
Deutsche Bank
Morgan Stanley
Argus Research Corp
Sandler O'Neill & Partners, LP
RBC Capital Markets
SunTrust Robinson Humphrey
Janney Montgomery Scott LLC
Sterne, Agee & Leach
Evercore Partners
JMP Securities
MKM Partners
EVA Dimensions
S&P Capital IQ
Portfolio Name
n/a
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
INVESCO LTD
HOTCHKIS AND WILEY
n/a
ARTISAN PARTNERS LP
NORTHERN TRUST CORPO
n/a
LSV ASSET MANAGEMENT
PZENA INVESTMENT MAN
AMERIPRISE FINANCIAL
n/a
BANK OF NEW YORK MEL
AMERICAN CENTURY COM
AJO, LP
DISCOVERY CAPITAL MA
Analyst
MICHAEL S NANNIZZI
MICHAEL ZAREMSKI
MEYER SHIELDS
RANDY BINNER
ADAM KLAUBER
JIM SHANAHAN
JOSH STIRLING
NINA GUPTA
C GREGORY PETERS
GLORIA L VOGEL
JAY H GELB
RAYMOND IARDELLA
JOHN A HALL
JOSHUA D SHANKER
GREGORY W LOCRAFT
JOHN M EADE
J PAUL NEWSOME
MARK A DWELLE
MARK D HUGHES
ROBERT GLASSPIEGEL
DANIEL FARRELL
VINAY MISQUITH
MATTHEW J CARLETTI
HARRY FONG
AUSTIN BURKETT
CATHY SEIFERT
Source
ULT-AGG
13F
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
13F
13F
Research
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
Recommendation
Buy/Neutral
outperform
market perform
market perform
outperform
buy
outperform
outperform
strong buy
hold
overweight
neutral
market perform
buy
Equalwt/In-Line
buy
buy
sector perform
neutral
buy
neutral
overweight
market perform
buy
buy
hold
Amt Held
23'639'690
22'671'855
22'292'659
20'105'714
19'984'076
13'274'104
12'957'795
10'485'305
8'487'084
7'389'120
7'163'891
7'163'891
6'584'538
6'486'248
6'104'700
5'864'695
5'668'651
4'714'744
4'545'300
4'353'350
% Out
4.95
4.75
4.67
4.21
4.19
2.78
2.71
2.2
1.78
1.55
1.5
1.5
1.38
1.36
1.28
1.23
1.19
0.99
0.95
0.91
Weighting
Change
5
5
3
3
5
5
5
5
5
3
5
3
3
5
3
5
5
3
3
5
3
5
3
5
5
3
U
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(264'764)
(1'682'359)
382'527
529'373
(33)
(362'127)
(2'368'767)
(959'655)
80'488
(501'604)
(77'162)
(3'897'691)
(672'920)
(115'558)
(550'075)
(41'867)
(326'800)
2'484'100
Target Price
58
54
50
45
#N/A N/A
#N/A N/A
50
#N/A N/A
52
49
54
47
#N/A N/A
51
#N/A N/A
51
51
48
#N/A N/A
34
47
50
#N/A N/A
55
#N/A N/A
43
File Dt
Inst Type
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.01.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
Date
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Date
25.03.2013
25.03.2013
25.03.2013
25.03.2013
22.03.2013
19.03.2013
19.03.2013
06.03.2013
05.03.2013
04.03.2013
14.02.2013
12.02.2013
11.02.2013
08.02.2013
08.02.2013
08.02.2013
08.02.2013
07.02.2013
07.02.2013
07.02.2013
07.02.2013
07.02.2013
07.02.2013
07.02.2013
15.01.2013
29.11.2012
26.03.2013
Price/Volume
40
12.0 M
35
10.0 M
30
8.0 M
25
20
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (01.08.2012)
52-Week Low (15.11.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 15.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
MO UN EQUITY YTD Change
MO UN EQUITY YTD % CHANGE
12/2012
12/yy
36.29
30.01
420'428.00
34.14
-5.92%
13.76%
61.62%
2'009.9
68'616.46
13'878.00
0.0
36.0
2'900.00
79'630.46
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
4.0 M
10
2.0 M
5
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
6.0 M
15
31.12.2009
31.12.2010
16'824.0
16'892.0
3.02x
3.63x
6'234.0
6'540.0
8.16x
9.38x
3'206.0
3'905.0
11.41x
12.96x
Profitability
LTM-4Q
31.12.2011
16'619.0
4.28x
6'543.0
10.86x
3'390.0
14.46x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
17'500.0
4.24x
7'539.0
9.84x
4'180.0
14.23x
7'539.00
7'314.00
41.79%
37.01%
10.98%
115.22%
0.49%
54.6%
43.1%
41.8%
23.9%
0.77
0.37
39.28%
438.07%
75.92
4.50
LTM
12/yy
16'619.0
16.04x
6'543.0
10.86x
3'390.0
14.61x
12/yy
17'500.0
17.62x
7'539.0
9.84x
3'958.0
14.23x
FY+1
4.98
0.56
2'003.17
19.50
17.29%
10.07%
0.561
18
4.222
2'139'005
2'411'810
2'355'401
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
17'693.1
18'021.3
4'025.8
4'614.5
4.52x
4.42x
19.86x
17.29x
7'742.0
8'008.6
1'749.0
2'025.8
10.29x
9.95x
10.33x
10.26x
4'787.6
5'079.7
1'061.7
1'258.3
14.25x
13.27x
14.25x
14.06x
S&P Issuer Ratings
06.01.2009
BBB
STABLE
18.09.2003
A-2
6.66
6.55
1.46
1.84
438.1%
81.2%
0.49
8.11
4.82
81.27
22.09
64.01
Sales/Revenue/Turnover
30.00
80'000.0
70'000.0
25.00
60'000.0
20.00
50'000.0
40'000.0
15.00
30'000.0
10.00
20'000.0
5.00
0.00
01.01.2010
10'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
BANK OF NEW YORK MEL
GOLDMAN SACHS GROUP
FMR LLC
NORTHERN TRUST CORPO
FAYEZ SAROFIM
BARROW HANLEY MEWHIN
JANUS CAPITAL MANAGE
BANK OF AMERICA CORP
ALLIANCE BERNSTEIN
TIAA CREF INVESTMENT
FRANKLIN RESOURCES
FEDERATED INVESTORS
GEODE CAPITAL MANAGE
UBS
WELLINGTON MANAGEMEN
Firm Name
Argus Research Corp
Barclays
Stifel
Wells Fargo Securities, LLC
Jefferies
Davenport & Co
Edward Jones
S&P Capital IQ
Morgan Stanley
Independent Research GmbH
Credit Agricole Securities (USA)
Goldman Sachs
JPMorgan
EVA Dimensions
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
GOLDMAN SACHS GROUP
n/a
NORTHERN TRUST CORPO
FAYEZ SAROFIM
BARROW HANLEY MEWHIN
n/a
BANK OF AMERICA
n/a
TIAA-CREF INVESTMENT
n/a
FEDERATED INVESTORS
GEODE CAPITAL MANAGE
n/a
WELLINGTON MANAGEMEN
Analyst
NATHANIEL GABRIEL
MICHAEL J BRANCA
CHRISTOPHER R GROWE
BONNIE HERZOG
THILO WREDE
ANN H GURKIN
JACK P RUSSO
ESTHER KWON
DAVID J ADELMAN
LARS LUSEBRINK
MICHAEL LAVERY
JUDY E HONG
RAE MAILE
AUSTIN BURKETT
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
13F
ULT-AGG
13F
Recommendation
hold
equalweight
buy
outperform
hold
buy
hold
buy
Equalwt/In-Line
buy
outperform
neutral/neutral
overweight
overweight
Amt Held
189'243'365
102'783'191
92'033'546
84'866'537
59'231'879
37'188'704
32'029'388
30'862'258
26'701'157
22'025'357
21'782'979
18'565'911
18'083'698
17'274'733
16'006'213
14'995'935
14'319'182
13'325'870
11'505'105
11'089'326
% Out
9.42
5.11
4.58
4.22
2.95
1.85
1.59
1.54
1.33
1.1
1.08
0.92
0.9
0.86
0.8
0.75
0.71
0.66
0.57
0.55
Weighting
Change
3
3
5
5
3
5
3
5
3
5
5
3
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
U
Latest Chg
4'621'145
3'041'640
(83'630)
3'633'766
(6'418'885)
(930'685)
(48'776)
(2'738'787)
(2'350)
3'183'643
931'916
(1'483'236)
1'413'846
(191'900)
920'913
(1'381'488)
731'055
(498'624)
Target Price
#N/A N/A
31
36
#N/A N/A
34
37
#N/A N/A
37
34
40
36
36
45
#N/A N/A
File Dt
31.12.2012
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
Date
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
9 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Date
18.03.2013
18.03.2013
15.03.2013
08.03.2013
01.03.2013
27.02.2013
26.02.2013
20.02.2013
19.02.2013
01.02.2013
01.02.2013
31.01.2013
31.01.2013
21.01.2013
26.03.2013
Amazon.com Inc
Amazon.com, Inc. is an online retailer that offers a wide range of products.
The Company's products include books, music, videotapes, computers,
electronics, home and garden, and numerous other products. Amazon offers
personalized shopping services, Web-based credit card payment, and direct
shipping to customers.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (25.01.2013)
52-Week Low (16.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 18.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
AMZN UW EQUITY YTD Change
AMZN UW EQUITY YTD % CHANGE
12/2012
12/yy
284.68
183.66
265'757.00
259.685
-8.78%
41.39%
71.63%
454.6
118'040.09
5'510.00
0.0
0.0
11'448.00
112'102.09
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
6.0 M
250
5.0 M
200
4.0 M
150
3.0 M
100
2.0 M
50
1.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
300
31.12.2009
31.12.2010
24'509.0
34'204.0
2.19x
2.15x
1'507.0
1'974.0
35.69x
37.21x
902.0
1'152.0
63.45x
71.15x
Profitability
LTM-4Q
31.12.2011
48'077.0
1.49x
1'945.0
36.75x
631.0
126.35x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
61'093.0
1.77x
2'835.0
38.08x
(39.0)
5017.40x
2'835.00
676.00
1.11%
0.64%
-0.14%
-0.50%
-0.42%
2.11%
24.8%
4.6%
1.1%
-0.1%
1.12
0.78
16.93%
67.26%
20.59
8.34
LTM
12/yy
48'077.0
6.86x
1'945.0
36.75x
632.0
126.35x
12/yy
61'093.0
6.68x
2'834.0
38.09x
(40.0)
696.86x
FY+1
0.00
1.18
366.92
7.35
28.01%
3.40%
1.180
43
4.256
799'145
822'788
893'988
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
75'719.6
92'943.2
16'180.5
15'981.5
1.48x
1.16x
7.07x
7.11x
4'673.5
6'406.4
957.6
1'068.9
24.02x
17.53x
23.58x
22.38x
1'478.2
2'507.9
263.1
325.1
77.29x
45.63x
78.72x
70.28x
S&P Issuer Ratings
26.11.2012
AASTABLE
13.06.2007
NR
30.82
-10.33
-2.10
1.94
67.3%
40.2%
2.11
10.65
17.78
43.88
95.23
-33.57
Sales/Revenue/Turnover
40.00
70'000.0
35.00
60'000.0
30.00
50'000.0
25.00
40'000.0
20.00
30'000.0
15.00
20'000.0
10.00
10'000.0
5.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Amazon.com Inc
Holdings By:
All
Holder Name
BEZOS JEFFREY P
CAPITAL GROUP COMPAN
T ROWE PRICE ASSOCIA
BLACKROCK
VANGUARD GROUP INC
FMR LLC
STATE STREET
BAILLIE GIFFORD AND
VANGUARD GROUP INC
SANDS CAPITAL MANAGE
JP MORGAN
JENNISON ASSOCIATES
MORGAN STANLEY
INVESCO LTD
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
UBS
WELLINGTON MANAGEMEN
TORONTO DOMINION BAN
TIAA CREF INVESTMENT
Firm Name
Janney Montgomery Scott LLC
ISI Group
Sanford C. Bernstein & Co
William Blair & Co
Cantor Fitzgerald
Cowen and Company
Pacific Crest Securities
Barclays
JMP Securities
Evercore Partners
EVA Dimensions
BMO Capital Markets
JPMorgan
Canaccord Genuity Corp
Stifel
Piper Jaffray
Topeka Capital Markets Inc
Nomura
Daiwa Securities Co. Ltd.
Telsey Advisory Group
Robert W. Baird & Co
Morgan Stanley
Oppenheimer & Co
Argus Research Corp
Deutsche Bank
Goldman Sachs
RBC Capital Markets
Credit Suisse
Jefferies
Needham & Co
Raymond James
Macquarie
B Riley & Company, Inc
Wells Fargo Securities, LLC
Atlantic Equities LLP
Benchmark Company LLC
Credit Agricole Securities (USA)
Wedge Partners
McAdams Wright Ragen Inc
BGC Partners
S&P Capital IQ
Battle Road Research
First Global Stockbroking
Portfolio Name
n/a
n/a
T ROWE PRICE ASSOCIA
n/a
VANGUARD GROUP INC
n/a
n/a
BAILLIE GIFFORD & CO
Multiple Portfolios
SANDS CAPITAL MANAGE
n/a
JENNISON ASSOCIATES
n/a
INVESCO LTD
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
WELLINGTON MANAGEMEN
TORONTO DOMINION BAN
TIAA-CREF INVESTMENT
Analyst
SHAWN C MILNE
GREGORY MELICH
CARLOS KIRJNER
MARK R MILLER
YOUSSEF H SQUALI
JOHN BLACKLEDGE
CHAD BARTLEY
ANTHONY J DICLEMENTE
RONALD V JOSEY III
KEN SENA
CRAIG STERLING
EDWARD S WILLIAMS
DOUGLAS ANMUTH
MICHAEL GRAHAM
JORDAN ROHAN
EUGENE E MUNSTER
VICTOR ANTHONY
BRIAN NOWAK
KAZUYA NISHIMURA
THOMAS FORTE
COLIN SEBASTIAN
SCOTT W DEVITT
JASON S HELFSTEIN
JOSEPH F BONNER
ROSS SANDLER
HEATH P TERRY
MARK S MAHANEY
STEPHEN JU
BRIAN J PITZ
KERRY RICE
AARON M KESSLER
BENJAMIN A SCHACHTER
SCOTT TILGHMAN
MATTHEW NEMER
JAMES CORDWELL
DANIEL L KURNOS
JAMES LEE
BRIAN BLAIR
DAN GEIMAN
COLIN W GILLIS
MICHAEL SOUERS
TEAM COVERAGE
RITESH DOSHI
Source
Form 4
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
MF-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
13F
Recommendation
buy
buy
outperform
outperform
buy
outperform
outperform
equalweight
market perform
overweight
sell
market perform
neutral
hold
buy
overweight
buy
buy
outperform
no rating system
outperform
Overwt/Attractive
outperform
hold
buy
buy/attractive
outperform
outperform
buy
hold
market perform
outperform
buy
outperform
overweight
buy
outperform
no rating system
hold
hold
hold
hold
market perform
Amt Held
86'970'020
43'940'459
20'211'207
18'170'531
15'967'446
15'535'787
13'840'922
11'864'837
10'047'138
7'730'515
6'405'541
6'217'693
5'456'857
5'407'626
5'046'581
4'778'512
4'522'854
4'405'355
4'260'200
3'037'780
% Out
19.13
9.67
4.45
4
3.51
3.42
3.04
2.61
2.21
1.7
1.41
1.37
1.2
1.19
1.11
1.05
1
0.97
0.94
0.67
Weighting
Change
5
5
5
5
5
5
5
3
3
5
1
3
3
3
5
5
5
5
5
#N/A N/A
5
5
5
3
5
5
5
5
5
3
3
5
5
5
5
5
5
#N/A N/A
3
3
3
3
3
M
M
M
M
M
M
M
M
N
M
D
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
Latest Chg
(195'151)
4'330'950
1'315'756
(211'684)
407'611
(672'592)
141'943
18'391
238'226
374'494
(801'059)
(186'717)
(822'311)
(13'747)
75'209
(623'769)
(179'692)
(100)
(14'891)
Target Price
310
320
320
#N/A N/A
300
#N/A N/A
346
260
#N/A N/A
330
#N/A N/A
260
300
300
335
329
360
300
295
370
325
325
325
#N/A N/A
335
330
330
334
330
#N/A N/A
#N/A N/A
305
341
#N/A N/A
325
330
290
#N/A N/A
#N/A N/A
220
250
#N/A N/A
#N/A N/A
File Dt
15.02.2013
31.12.2012
31.12.2012
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
9 month
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
18 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Inst Type
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Date
25.03.2013
24.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
21.03.2013
20.03.2013
19.03.2013
18.03.2013
16.03.2013
15.03.2013
14.03.2013
14.03.2013
12.03.2013
12.03.2013
12.03.2013
06.03.2013
22.02.2013
20.02.2013
15.02.2013
13.02.2013
11.02.2013
31.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
26.11.2012
26.10.2012
26.10.2012
26.10.2012
27.04.2012
27.07.2011
26.03.2013
Price/Volume
2.0 M
1.5 M
30
12/2012
12/yy
48.23
36.98
103'197.00
48.06
-0.35%
29.96%
94.93%
485.8
23'347.09
18'738.00
0.0
0.0
603.00
41'482.09
1.0 M
20
.5 M
10
0
m-12
31.12.2009
31.12.2010
13'489.0
14'427.0
2.48x
2.41x
4'431.0
4'443.0
7.55x
7.83x
1'360.0
1'214.0
11.67x
11.87x
Profitability
LTM-4Q
31.12.2011
15'116.0
2.49x
4'713.0
7.98x
1'946.0
9.93x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
14'945.0
2.60x
4'874.0
7.97x
1'259.0
13.81x
4'874.00
2'956.00
19.78%
12.49%
2.36%
8.42%
5.78%
0.28%
64.7%
30.3%
17.5%
8.4%
0.67
0.36
34.47%
122.98%
8.07
3.76
m-12
j-12
j-12
LTM
12/yy
15'116.0
9.48x
4'709.0
7.99x
1'946.0
12.15x
a-12
12/yy
14'945.0
10.15x
4'529.0
8.58x
1'259.0
13.77x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
3.91
0.61
485.72
4.78
30.60%
13.79%
0.613
23
3.957
434'489
613'961
618'634
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
15'786.8
16'082.1
3'749.4
3'616.2
2.67x
2.68x
11.03x
11.51x
4'772.9
4'937.9
1'131.7
1'163.0
8.69x
8.40x
8.98x
8.92x
1'539.5
1'624.4
374.0
390.0
15.23x
14.51x
15.24x
15.16x
S&P Issuer Ratings
07.03.2003
BBB
STABLE
07.03.2003
A-2
4.93
1.67
4.00
4.14
123.0%
55.2%
0.28
45.37
97.43
75.23
67.56
Sales/Revenue/Turnover
8.00
16'000.0
7.00
14'000.0
6.00
12'000.0
5.00
10'000.0
4.00
8'000.0
3.00
6'000.0
2.00
4'000.0
1.00
2'000.0
0.00
01.01.2010
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
2.5 M
50
40
Valuation Analysis
31.12.2008
14'440.0
2.18x
4'087.0
7.70x
1'383.0
10.30x
60
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
STATE STREET
VANGUARD GROUP INC
FRANKLIN RESOURCES
VANGUARD GROUP INC
FMR LLC
ALLIANZ ASSET MANAGE
T ROWE PRICE ASSOCIA
SUN LIFE FINANCIAL I
NORTHERN TRUST CORPO
LSV ASSET MANAGEMENT
BANK OF NEW YORK MEL
JP MORGAN
EATON VANCE MANAGEME
INVESCO LTD
MORGAN STANLEY
GOLDMAN SACHS GROUP
NORGES BANK
AMERIPRISE FINANCIAL
FEDERATED INVESTORS
Firm Name
Wolfe Trahan & Co
ISI Group
Edward Jones
Sanford C. Bernstein & Co
SunTrust Robinson Humphrey
EVA Dimensions
Wells Fargo Securities, LLC
Argus Research Corp
Deutsche Bank
BMO Capital Markets
Morgan Stanley
RBC Capital Markets
Credit Suisse
Hilliard Lyons
Jefferies
BGC Partners
Barclays
KeyBanc Capital Markets
Macquarie
Goldman Sachs
JPMorgan
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
n/a
T ROWE PRICE ASSOCIA
n/a
NORTHERN TRUST CORPO
LSV ASSET MANAGEMENT
BANK OF NEW YORK MEL
n/a
EATON VANCE MANAGEME
INVESCO LTD
n/a
GOLDMAN SACHS GROUP
NORGES BANK
AMERIPRISE FINANCIAL
FEDERATED INVESTORS
Analyst
STEVEN I FLEISHMAN
GREG GORDON
ANDREW B SMITH
HUGH WYNNE
ALI AGHA
AUSTIN BURKETT
NEIL A KALTON
GARY F HOVIS
JONATHAN ARNOLD
MICHAEL S WORMS
STEPHEN C BYRD
SHELBY G TUCKER
DANIEL EGGERS
DAVID B BURKS
PAUL B FREMONT
KIT KONOLIGE
DANIEL F FORD
PAUL T RIDZON
ANGIE STOROZYNSKI
MICHAEL J LAPIDES
CHRISTOPHER TURNURE
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
Recommendation
outperform
buy
hold
market perform
buy
hold
outperform
buy
hold
market perform
Equalwt/In-Line
sector perform
outperform
buy
buy
buy
overweight
buy
neutral
neutral/neutral
neutral
Amt Held
31'577'197
24'349'034
22'742'830
20'439'374
14'418'937
8'727'914
7'524'538
6'489'913
6'468'185
6'273'613
5'582'279
5'568'150
5'343'289
4'670'909
4'554'875
4'008'757
3'757'975
3'705'639
3'591'404
3'262'840
% Out
6.5
5.01
4.68
4.21
2.97
1.8
1.55
1.34
1.33
1.29
1.15
1.15
1.1
0.96
0.94
0.83
0.77
0.76
0.74
0.67
Weighting
Change
5
5
3
3
5
3
5
5
3
3
3
3
5
5
5
5
5
5
3
3
3
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(50'127)
(76'391)
(307'490)
765'779
(618'396)
(889'770)
654'352
73'373
(820'641)
(442'473)
(2'145'726)
65'686
265'191
(202'475)
(611'067)
555'640
(899'042)
(46'944)
Target Price
52
48
#N/A N/A
46
50
#N/A N/A
#N/A N/A
50
46
46
47
47
50
49
51
49
49
47
45
45
45
File Dt
22.03.2013
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
9 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Date
25.03.2013
21.03.2013
12.03.2013
11.03.2013
08.03.2013
05.03.2013
04.03.2013
25.02.2013
21.02.2013
19.02.2013
19.02.2013
19.02.2013
19.02.2013
19.02.2013
19.02.2013
19.02.2013
19.02.2013
18.02.2013
16.02.2013
11.02.2013
23.01.2013
26.03.2013
American Express Co
American Express Company is a global payment and travel company. The Company's
principal products and services are charge and credit payment card products and
travel-related services offered to consumers and businesses around the world.
Price/Volume
80
6.0 M
70
5.0 M
60
4.0 M
50
40
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (15.11.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 15.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
AXP UN EQUITY YTD Change
AXP UN EQUITY YTD % CHANGE
12/2012
12/yy
67.06
53.02
274'752.00
66.98
-0.12%
26.33%
95.13%
1'104.7
73'989.53
62'287.00
0.0
0.0
22'250.00
114'026.53
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
2.0 M
20
1.0 M
10
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
3.0 M
30
31.12.2009
31.12.2010
26'730.0
30'005.0
3.23x
3.49x
11'431.0
11'511.0
7.56x
9.11x
2'130.0
4'057.0
27.38x
12.59x
Profitability
LTM-4Q
31.12.2011
32'282.0
2.88x
11'306.0
8.23x
4'935.0
11.45x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
33'808.0
3.06x
11'658.0
8.88x
4'482.0
13.06x
11'658.00
20.43%
19.08%
2.92%
23.53%
5.50%
0.22%
34.5%
13.3%
40.67%
329.81%
-
LTM
12/yy
32'282.0
11.96x
11'306.0
8.23x
4'935.0
11.48x
12/yy
33'808.0
12.05x
11'658.0
8.88x
4'482.0
13.06x
FY+1
1.19
1.06
1'101.41
13.16
15.75%
16.92%
1.064
32
3.469
1'079'531
1'210'471
1'245'457
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
31'945.3
35'248.3
8'011.7
8'313.8
4.05x
3.72x
5'168.8
5'506.6
1'254.1
1'333.9
14.07x
12.54x
14.05x
13.67x
S&P Issuer Ratings
30.04.2009
BBB+
STABLE
30.04.2009
A-2
3.43
5.34
329.8%
76.7%
0.22
9.66
-
Sales/Revenue/Turnover
12.00
40'000.0
35'000.0
10.00
30'000.0
8.00
25'000.0
20'000.0
6.00
15'000.0
4.00
10'000.0
2.00
0.00
01.01.2010
5'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
American Express Co
Holdings By:
All
Holder Name
BERKSHIRE HATHAWAY I
CAPITAL GROUP COMPAN
BLACKROCK
STATE STREET
VANGUARD GROUP INC
DAVIS SELECTED ADVIS
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
BARROW HANLEY MEWHIN
FMR LLC
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
JP MORGAN
SUN LIFE FINANCIAL I
FIRST EAGLE INVESTME
GOLDMAN SACHS GROUP
FISHER INVESTMENTS I
FRANKLIN RESOURCES
TIAA CREF INVESTMENT
NORGES BANK
Firm Name
Sanford C. Bernstein & Co
Nomura
William Blair & Co
FBR Capital Markets
Portales Partners
RBC Capital Markets
Edward Jones
JPMorgan
Janney Montgomery Scott LLC
Jefferies
Keefe, Bruyette & Woods
Stifel
Buckingham Research Group
Evercore Partners
Wells Fargo Securities, LLC
Telsey Advisory Group
Drexel Hamilton LLC
Guggenheim Securities LLC
Susquehanna Financial Group
Credit Agricole Securities (USA)
S&P Capital IQ
Argus Research Corp
Credit Suisse
Morgan Stanley
Daiwa Securities Co. Ltd.
Sandler O'Neill & Partners, LP
Barclays
Piper Jaffray
Sterne, Agee & Leach
EVA Dimensions
Goldman Sachs
Meredith Whitney Advisory Group
Portfolio Name
n/a
n/a
n/a
n/a
VANGUARD GROUP INC
DAVIS SELECTED ADVIS
T ROWE PRICE ASSOCIA
Multiple Portfolios
BARROW HANLEY MEWHIN
n/a
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
n/a
FIRST EAGLE INVESTME
GOLDMAN SACHS GROUP
FISHER INVESTMENTS
n/a
TIAA-CREF INVESTMENT
NORGES BANK
Analyst
JOHN E MCDONALD
BILL CARCACHE
ROBERT P NAPOLI
SCOTT VALENTIN
WILLIAM H RYAN
JASON ARNOLD
JIM SHANAHAN
RICHARD SHANE JR
SAMEER GOKHALE
DANIEL FURTADO
SANJAY SAKHRANI
CHRISTOPHER C BRENDLER
DAVID HOCHSTIM
BRADLEY BALL
JOEL HOUCK
MICHAEL P TAIANO
DAVID B HILDER
DAVID W DARST
JAMES E FRIEDMAN
CRAIG J MAURER
SONIA PARECHANIAN
DAVID RITTER
MOSHE A ORENBUCH
BETSY L GRASECK
KAZUKI WATANABE
CHRISTOPHER R DONAT
MARK C DEVRIES
MICHAEL J GRONDAHL
HENRY J COFFEY JR
AUSTIN BURKETT
RYAN M. NASH
MEREDITH A WHITNEY
Source
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
MF-AGG
13F
ULT-AGG
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
Recommendation
market perform
buy
outperform
market perform
underperform
underperform
hold
underweight
neutral
hold
outperform
hold
buy
equalweight
market perform
no rating system
buy
neutral
Positive
buy
strong buy
buy
underperform
Equalwt/Attractive
neutral
hold
overweight
neutral
not rated
hold
neutral/attractive
hold
Amt Held
151'610'700
130'599'060
56'275'995
45'858'708
44'869'932
42'336'064
31'925'151
27'981'563
24'810'206
17'491'143
17'395'732
14'866'352
14'681'773
10'061'053
10'012'262
9'837'471
9'010'348
8'712'468
8'428'533
7'962'831
% Out
13.72
11.82
5.09
4.15
4.06
3.83
2.89
2.53
2.25
1.58
1.57
1.35
1.33
0.91
0.91
0.89
0.82
0.79
0.76
0.72
Weighting
Change
3
5
5
3
1
1
3
1
3
3
5
3
5
3
3
#N/A N/A
5
3
4
5
5
5
1
3
3
3
5
3
#N/A N/A
3
3
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
Latest Chg
(2'488'800)
3'700'164
559'596
466'899
(4'985'213)
(1'263'930)
(331'152)
1'245'221
(516'181)
305'984
952'292
71'133
83'200
585'527
(2'592'399)
(687'878)
1'777'874
887'959
Target Price
65
73
#N/A N/A
62
#N/A N/A
53
#N/A N/A
63
69
58
70
#N/A N/A
73
63
#N/A N/A
70
70
63
72
78
76
75
59
68
64
62
68
61
#N/A N/A
#N/A N/A
65
#N/A N/A
File Dt
Inst Type
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
22.03.2013
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.01.2013
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Government
Date
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
9 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Date
22.03.2013
20.03.2013
18.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
14.03.2013
08.03.2013
25.02.2013
19.02.2013
15.02.2013
15.02.2013
07.02.2013
07.02.2013
18.01.2013
15.01.2013
15.01.2013
13.01.2013
17.10.2012
26.03.2013
Amgen Inc
Amgen Inc. is an independent biotechnology medicines company that discovers,
develops, manufactures and markets medicines for grievous illnesses. The
Company focuses solely on human therapeutics and concentrates on innovating
novel medicines based on advances in cellular and molecular biology.
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (16.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 18.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
AMGN UW EQUITY YTD Change
AMGN UW EQUITY YTD % CHANGE
Price/Volume
12/2012
12/yy
98.03
65.38
417'252.00
97.84
-0.19%
49.65%
97.85%
748.4
73'226.39
26'541.00
0.0
0.0
24'061.00
75'706.39
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
6.0 M
100
5.0 M
80
4.0 M
60
3.0 M
40
2.0 M
20
1.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
120
31.12.2009
31.12.2010
14'642.0
15'053.0
3.65x
3.13x
6'728.0
6'679.0
7.94x
7.05x
4'605.0
4'627.0
11.71x
11.68x
Profitability
LTM-4Q
31.12.2011
15'582.0
3.33x
5'372.0
9.66x
3'683.0
12.87x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
17'265.0
3.92x
6'665.0
10.15x
4'345.0
14.37x
6'665.00
5'577.00
32.30%
29.01%
8.42%
22.81%
12.22%
0.33%
83.1%
38.6%
32.3%
25.2%
3.81
3.24
48.88%
139.25%
6.38
1.12
LTM
12/yy
15'582.0
12.25x
5'372.0
9.66x
3'683.0
13.02x
12/yy
17'265.0
14.29x
6'665.0
10.15x
4'345.0
14.46x
FY+1
1.47
0.71
747.54
14.88
47.70%
13.97%
0.712
33
3.970
1'434'266
1'826'069
1'689'150
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
18'044.7
18'398.7
4'368.8
4'514.1
3.81x
3.54x
7'499.5
8'265.9
1'782.0
1'782.0
10.11x
9.17x
10.47x
5'527.7
6'219.2
1'427.9
1'356.4
13.60x
11.90x
13.61x
S&P Issuer Ratings
07.09.2007
A+
STABLE
31.05.2012
A-1+
6.18
5.54
0.37
3.98
139.2%
58.2%
0.33
3.21
57.39
327.87
89.08
296.17
Sales/Revenue/Turnover
14.00
20'000.0
18'000.0
12.00
16'000.0
10.00
14'000.0
12'000.0
8.00
10'000.0
8'000.0
6.00
6'000.0
4.00
4'000.0
2.00
0.00
01.01.2010
2'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Amgen Inc
Holdings By:
All
Holder Name
CAPITAL GROUP COMPAN
FMR LLC
BLACKROCK
PRIMECAP MANAGEMENT
VANGUARD GROUP INC
STATE STREET
WELLINGTON MANAGEMEN
VANGUARD GROUP INC
INVESCO LTD
FRANKLIN RESOURCES
NORTHERN TRUST CORPO
BANK OF AMERICA CORP
T ROWE PRICE ASSOCIA
AMERIPRISE FINANCIAL
BANK OF NEW YORK MEL
TIAA CREF INVESTMENT
CLEARBRIDGE INVESTME
NORGES BANK
LSV ASSET MANAGEMENT
SUSQUEHANNA INTERNAT
Firm Name
Edward Jones
Leerink Swann & Co
BMO Capital Markets
Morgan Stanley
Brean Murray Carret & Co
Robert W. Baird & Co
Sanford C. Bernstein & Co
William Blair & Co
Hamburger Sparkasse
Stifel
Guggenheim Securities LLC
Cowen and Company
S&P Capital IQ
RBC Capital Markets
Credit Suisse
Piper Jaffray
Argus Research Corp
Jefferies
Lazard Capital Markets
ISI Group
Oppenheimer & Co
Atlantic Equities LLP
Independent Research GmbH
JPMorgan
Barclays
EVA Dimensions
Goldman Sachs
Deutsche Bank
First Global Stockbroking
Cyrrus
Portfolio Name
n/a
n/a
n/a
PRIMECAP MANAGEMENT
VANGUARD GROUP INC
n/a
WELLINGTON MANAGEMEN
Multiple Portfolios
INVESCO LTD
n/a
NORTHERN TRUST CORPO
BANK OF AMERICA
T ROWE PRICE ASSOCIA
AMERIPRISE FINANCIAL
BANK OF NEW YORK MEL
TIAA-CREF INVESTMENT
CLEARBRIDGE INVESTME
NORGES BANK
LSV ASSET MANAGEMENT
SUSQUEHANNA INTERNAT
Analyst
JUDSON CLARK
HOWARD LIANG
JIM BIRCHENOUGH
MARSHALL URIST
GENE MACK
CHRISTOPHER J RAYMOND
GEOFFREY C PORGES
JOHN S SONNIER
MARCO GUENTHER
JOEL D SENDEK
BRET HOLLEY
ERIC SCHMIDT
STEVEN SILVER
MICHAEL J YEE
RAVI MEHROTRA
M IAN SOMAIYA
JOHN M EADE
EUN K YANG
JOSHUA SCHIMMER
MARK J SCHOENEBAUM
BORIS PEAKER
RICHARD J PURKISS
CHRISTOPH SCHOENDUBE
GEOFFREY MEACHAM
CHARLES ANTHONY BUTLER
ANDREW S ZAMFOTIS
TERENCE FLYNN
ROBYN KARNAUSKAS
KAVITA THOMAS
TOMAS MENCIK
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
MF-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
13F
Recommendation
hold
market perform
market perform
Equalwt/In-Line
buy
neutral
market perform
market perform
sell
hold
neutral
outperform
buy
outperform
neutral
overweight
buy
buy
buy
buy
market perform
overweight
buy
neutral
equalweight
buy
neutral/attractive
buy
sector outperform
buy
Amt Held
76'142'906
58'002'657
44'895'140
42'036'924
34'391'769
31'108'145
21'832'328
21'617'591
15'651'522
11'669'900
11'487'213
11'107'530
10'496'023
8'561'832
8'520'399
7'581'069
7'120'455
6'263'455
5'365'370
5'306'546
% Out
10.17
7.75
6
5.62
4.6
4.16
2.92
2.89
2.09
1.56
1.53
1.48
1.4
1.14
1.14
1.01
0.95
0.84
0.72
0.71
Weighting
Change
3
3
3
3
5
3
3
3
1
3
3
5
5
5
3
5
5
5
5
5
3
5
5
3
3
5
3
5
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
U
M
M
Latest Chg
2'810'500
3'329'190
(2'963'375)
648'331
313'883
(1'069'549)
706'375
(4'012'727)
(484'470)
3'592'934
(660'498)
1'929'023
(189'300)
734'423
(145'272)
5'419'529
(677'420)
1'981'232
Target Price
#N/A N/A
#N/A N/A
83
#N/A N/A
98
86
104
#N/A N/A
#N/A N/A
#N/A N/A
95
#N/A N/A
104
95
100
107
96
100
106
92
89
115
103
85
90
#N/A N/A
91
108
#N/A N/A
78
File Dt
31.12.2012
31.12.2012
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
9 month
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Date
22.03.2013
22.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
19.03.2013
19.03.2013
19.03.2013
15.03.2013
12.03.2013
04.03.2013
01.03.2013
25.02.2013
25.02.2013
15.02.2013
07.02.2013
07.02.2013
15.01.2013
13.12.2012
22.10.2012
17.05.2012
05.04.2012
26.03.2013
Price/Volume
12/2012
12/yy
88.79
56.42
252'939.00
88.04
-0.83%
56.04%
95.37%
508.2
44'741.73
13'269.00
0.0
1'253.0
2'471.00
56'792.73
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
31.12.2009
31.12.2010
8'537.0
11'340.0
4.74x
4.22x
3'561.0
6'055.0
11.36x
7.91x
(135.0)
761.0
51.81x
Profitability
2.5 M
2.0 M
1.5 M
1.0 M
.5 M
a-12 m-12
LTM-4Q
31.12.2011
13'656.0
3.77x
7'353.0
7.00x
(2'649.0)
23.06x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
14'060.0
3.50x
6'950.0
7.09x
2'391.0
33.03x
6'950.00
2'986.00
21.24%
25.36%
4.58%
12.35%
8.52%
0.27%
43.9%
49.4%
21.2%
17.0%
1.70
0.99
25.23%
64.32%
10.25
40.73
j-12
j-12
LTM
12/yy
13'966.0
13.85x
7'628.0
6.75x
(2'649.0)
22.65x
a-12
12/yy
14'058.0
13.90x
6'948.0
7.09x
2'391.0
18.04x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
0.41
1.35
498.91
7.52
11.35%
18.60%
1.353
34
4.706
821'744
854'829
807'784
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
14'968.4
16'919.5
3'454.6
3'635.8
3.82x
3.27x
16.50x
15.62x
9'509.7
10'947.9
2'241.0
2'323.0
5.98x
5.19x
5.90x
5.67x
2'019.7
2'706.8
447.9
457.4
21.94x
16.89x
22.33x
21.03x
S&P Issuer Ratings
08.09.2006
BBBPOS
15.09.2009
NR
7.22
-0.30
1.55
1.91
64.3%
37.7%
0.27
0.37
35.69
8.99
146.64
-101.97
Sales/Revenue/Turnover
20.00
16'000.0
18.00
14'000.0
16.00
12'000.0
14.00
10'000.0
12.00
10.00
8'000.0
8.00
6'000.0
6.00
4'000.0
4.00
2'000.0
2.00
0.00
01.01.2010
3.0 M
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
100
90
80
70
60
50
40
30
20
10
0
m-12
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
WELLINGTON MANAGEMEN
FMR LLC
STATE STREET
VANGUARD GROUP INC
CARMIGNAC GESTION
VANGUARD GROUP INC
CLEARBRIDGE INVESTME
JP MORGAN
T ROWE PRICE ASSOCIA
INVESCO LTD
NEUBERGER BERMAN LLC
DEUTSCHE BANK AG
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
JENNISON ASSOCIATES
NORGES BANK
AMERIPRISE FINANCIAL
DIMENSIONAL FUND ADV
CREDIT SUISSE AG
Firm Name
Credit Suisse
Capital One Southcoast, Inc.
Deutsche Bank
Howard Weil Inc
Wells Fargo Securities, LLC
Sanford C. Bernstein & Co
Raymond James
Buckingham Research Group
Canaccord Genuity Corp
Tudor Pickering & Co
Societe Generale
Goldman Sachs
Guggenheim Securities LLC
Global Hunter Securities
RBC Capital Markets
Jefferies
Johnson Rice & Co
Barclays
Simmons & Company International
Stifel
Oppenheimer & Co
EVA Dimensions
Argus Research Corp
Credit Agricole Securities (USA)
Alembic Global Advisors
JPMorgan
Morgan Stanley
Macquarie
S&P Capital IQ
FBR Capital Markets
Portfolio Name
n/a
WELLINGTON MANAGEMEN
n/a
n/a
VANGUARD GROUP INC
Multiple Portfolios
Multiple Portfolios
CLEARBRIDGE INVESTME
n/a
T ROWE PRICE ASSOCIA
INVESCO LTD
NEUBERGER BERMAN GRO
DEUTSCHE BANK AKTIEN
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
JENNISON ASSOCIATES
NORGES BANK
AMERIPRISE FINANCIAL
DIMENSIONAL FUND ADV
CREDIT SUISSE AG
Analyst
ARUN JAYARAM
ELIOT JAVANMARDI
STEPHEN RICHARDSON
PETER KISSEL
DAVID R TAMERON
BOB BRACKETT
ANDREW COLEMAN
ROBERT L CHRISTENSEN JR
JOHN J GERDES
BRIAN LIVELY
JOHN HERRLIN
BRIAN SINGER
ROBERT CORDRAY
JOHN MALONE
SCOTT HANOLD
SUBASH CHANDRA
CHARLES MEADE
THOMAS R DRISCOLL
DAVID W KISTLER
AMIR ARIF
FADEL GHEIT
CRAIG STERLING
PHILIP H WEISS
JEB S ARMSTRONG
JAMES J SULLIVAN
JOSEPH D ALLMAN
J EVAN CALIO
JOSEPH MAGNER
MICHAEL KAY
REHAN RASHID
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
MF-AGG
MF-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
13F
13F
Recommendation
outperform
strong buy
buy
focus list
outperform
outperform
outperform
buy
buy
buy
buy
buy/attractive
buy
buy
outperform
buy
overweight
overweight
overweight
buy
outperform
hold
hold
buy
overweight
neutral
Overwt/Attractive
outperform
buy
market perform
Amt Held
36'093'242
33'766'711
30'419'482
22'756'586
21'854'326
15'580'800
13'760'632
12'911'593
12'651'184
10'138'557
9'446'141
7'053'263
6'990'611
6'982'181
6'592'195
5'423'262
5'375'346
5'277'034
4'717'115
4'151'875
% Out
7.1
6.64
5.99
4.48
4.3
3.07
2.71
2.54
2.49
2
1.86
1.39
1.38
1.37
1.3
1.07
1.06
1.04
0.93
0.82
Weighting
Change
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
3
3
5
5
3
5
5
5
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
Latest Chg
(923'642)
3'651'184
899'681
(136'936)
(96'300)
(122'383)
909'992
2'497'314
1'184'755
(109'435)
2'118'749
(43'187)
226'160
(149'144)
233'565
(764'838)
20'436
508'321
Target Price
109
138
101
112
#N/A N/A
97
100
110
125
117
95
101
105
110
100
96
#N/A N/A
102
126
95
100
#N/A N/A
#N/A N/A
103
108
89
95
97
86
90
File Dt
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
18 month
Not Provided
Not Provided
Not Provided
12 month
9 month
12 month
12 month
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
26.03.2013
25.03.2013
25.03.2013
25.03.2013
22.03.2013
22.03.2013
21.03.2013
21.03.2013
21.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
19.03.2013
19.03.2013
19.03.2013
18.03.2013
15.03.2013
14.03.2013
08.03.2013
27.02.2013
26.02.2013
20.02.2013
19.02.2013
07.02.2013
06.02.2013
06.02.2013
15.11.2012
24.10.2012
26.03.2013
Apache Corp
Apache Corporation is an independent energy company. The Company explores for,
develops, and produces natural gas, crude oil, and natural gas liquids. The
Company has operations in the United States, Canada, Egypt, Australia, offshore
the United Kingdom in the North Sea, and Argentina.
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2012)
52-Week Low (04.03.2013)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 14.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
APA UN EQUITY YTD Change
APA UN EQUITY YTD % CHANGE
Price/Volume
12/2012
12/yy
103.15
72.21
148'880.00
74.56
-27.72%
3.25%
7.82%
392.0
29'227.52
12'346.00
1'227.0
0.0
160.00
42'640.52
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
3.0 M
100
2.5 M
80
2.0 M
60
1.5 M
40
1.0 M
20
.5 M
0
m-12
31.12.2009
31.12.2010
8'573.9
12'183.0
4.40x
4.50x
3'027.6
8'903.0
12.46x
6.16x
(284.4)
3'032.0
20.51x
13.34x
Profitability
LTM-4Q
31.12.2011
16'810.0
2.55x
12'551.0
3.42x
4'584.0
7.66x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
16'947.0
2.61x
12'283.0
3.60x
2'001.0
8.15x
12'283.00
5'174.00
30.53%
28.78%
3.55%
6.65%
5.53%
0.30%
33.7%
72.5%
30.5%
11.8%
0.90
0.59
20.33%
41.01%
5.50
14.39
j-12
j-12
LTM
12/yy
16'810.0
11.67x
12'551.0
3.42x
4'584.0
7.55x
a-12
12/yy
16'947.0
10.83x
12'283.0
3.60x
2'001.0
8.21x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
0.91
1.44
390.02
5.60
-25.63%
-4.82%
1.442
33
4.152
529'699
811'099
716'051
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
17'692.2
19'158.8
4'262.6
4'296.6
2.49x
2.30x
10.61x
10.59x
12'529.8
13'733.3
3'015.6
2'973.1
3.40x
3.10x
3.46x
3.38x
3'730.7
4'352.7
884.9
868.7
7.99x
7.23x
8.11x
8.01x
S&P Issuer Ratings
26.01.2001
ASTABLE
05.05.2000
A-2
14.57
3.26
0.99
1.01
41.0%
28.3%
0.30
0.34
66.57
25.44
34.07
57.95
Sales/Revenue/Turnover
9.00
18'000.0
8.00
16'000.0
7.00
14'000.0
6.00
12'000.0
5.00
10'000.0
4.00
8'000.0
3.00
6'000.0
2.00
4'000.0
1.00
2'000.0
0.00
01.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
120
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Apache Corp
Holdings By:
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
STATE STREET
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
FRANKLIN RESOURCES
FMR LLC
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
HARRIS ASSOCIATES LP
NWQ INVESTMENT MANAG
EAGLE CAPITAL MANAGE
SUN LIFE FINANCIAL I
JP MORGAN
DEUTSCHE BANK AG
WELLINGTON MANAGEMEN
BANK OF AMERICA CORP
NORGES BANK
LAZARD ASSET MANAGEM
Firm Name
Capital One Southcoast, Inc.
Deutsche Bank
Tudor Pickering & Co
Sanford C. Bernstein & Co
Argus Research Corp
RBC Capital Markets
Edward Jones
Howard Weil Inc
Simmons & Company International
Wells Fargo Securities, LLC
Stifel
Oppenheimer & Co
Buckingham Research Group
Guggenheim Securities LLC
Raymond James
Credit Agricole Securities (USA)
Credit Suisse
Global Hunter Securities
Macquarie
Morgan Stanley
Goldman Sachs
Peters & Co Ltd
S&P Capital IQ
Barclays
Societe Generale
Johnson Rice & Co
EVA Dimensions
Alembic Global Advisors
JPMorgan
FBR Capital Markets
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
T ROWE PRICE ASSOCIA
Multiple Portfolios
n/a
n/a
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
HARRIS ASSOC LP
NWQ INVESTMENT MANAG
EAGLE CAPITAL MANAGE
n/a
n/a
DEUTSCHE BANK AKTIEN
WELLINGTON MANAGEMEN
BANK OF AMERICA
NORGES BANK
n/a
Analyst
ELIOT JAVANMARDI
STEPHEN RICHARDSON
MATTHEW PORTILLO
BOB BRACKETT
PHILIP H WEISS
LEO P MARIANI
BRIAN YOUNGBERG
PETER KISSEL
PEARCE W HAMMOND
DAVID R TAMERON
AMIR ARIF
FADEL GHEIT
ROBERT L CHRISTENSEN JR
ROBERT CORDRAY
JOHN FREEMAN
JEB S ARMSTRONG
ARUN JAYARAM
JOHN MALONE
JOSEPH MAGNER
J EVAN CALIO
BRIAN SINGER
KAM S SANDHAR
MICHAEL KAY
THOMAS R DRISCOLL
JOHN HERRLIN
CHARLES MEADE
CRAIG STERLING
JAMES J SULLIVAN
JOSEPH D ALLMAN
REHAN RASHID
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
Recommendation
add
hold
accumulate
outperform
hold
sector perform
hold
sector outperform
overweight
outperform
buy
outperform
buy
buy
outperform
buy
outperform
neutral
neutral
Equalwt/Attractive
neutral/attractive
sector perform
strong buy
overweight
buy
equalweight
buy
neutral
overweight
market perform
Amt Held
29'315'198
23'710'179
17'130'672
16'897'988
12'141'893
10'762'869
9'201'248
8'543'355
6'297'278
5'905'844
5'314'831
4'767'624
4'578'799
3'782'979
3'521'201
3'175'642
3'112'459
2'901'702
2'808'677
2'680'709
% Out
7.48
6.05
4.37
4.31
3.1
2.75
2.35
2.18
1.61
1.51
1.36
1.22
1.17
0.97
0.9
0.81
0.79
0.74
0.72
0.68
Weighting
Change
4
3
4
5
3
3
3
5
5
5
5
5
5
5
5
5
5
3
3
3
3
3
5
5
5
3
5
3
5
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
D
M
M
M
M
M
M
M
M
D
M
M
Latest Chg
220'162
396'043
282'413
6'805'021
169'616
(2'878'610)
129'476
26'941
(3'411'669)
(535'856)
1'168'725
(58'177)
(171'966)
531'384
25'144
72'762
317'481
(194'515)
Target Price
118
90
103
101
#N/A N/A
95
#N/A N/A
96
130
#N/A N/A
90
95
119
93
100
116
100
88
96
81
92
90
116
113
103
#N/A N/A
#N/A N/A
92
90
100
File Dt
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
18 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
9 month
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Government
Unclassified
Date
26.03.2013
25.03.2013
25.03.2013
22.03.2013
20.03.2013
19.03.2013
18.03.2013
15.03.2013
15.03.2013
13.03.2013
12.03.2013
08.03.2013
07.03.2013
28.02.2013
25.02.2013
25.02.2013
19.02.2013
19.02.2013
16.02.2013
15.02.2013
15.02.2013
15.02.2013
15.02.2013
15.02.2013
14.02.2013
14.02.2013
15.01.2013
15.01.2013
14.01.2013
08.01.2013
26.03.2013
Apple Inc
Apple Inc. designs, manufactures, and markets personal computers and related
personal computing and mobile communication devices along with a variety of
related software, services, peripherals, and networking solutions. The Company
sells its products worldwide through its online stores, its retail stores, its
direct sales force, third-party wholesalers, and resellers.
Price/Volume
12.0 M
600
10.0 M
8.0 M
400
09/2012
12/yy
705.07
419.00
1'105'317.00
462.88
-34.35%
10.47%
15.58%
939.1
434'671.16
0.00
0.0
0.0
121'251.00
297'559.17
6.0 M
300
200
4.0 M
100
2.0 M
0
m-12
30.09.2009
30.09.2010
42'905.0
65'225.0
3.03x
3.32x
12'474.0
19'412.0
10.43x
11.17x
8'235.0
14'013.0
20.08x
19.30x
Profitability
LTM-4Q
30.09.2011
108'249.0
2.72x
35'604.0
8.26x
25'922.0
14.61x
30.09.2012
156'508.0
3.23x
58'518.0
8.63x
41'733.0
15.11x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
58'518.00
55'241.00
35.30%
35.63%
24.94%
38.41%
38.41%
0.98%
43.9%
36.0%
33.5%
26.7%
1.50
1.04
0.00%
0.00%
16.05
71.10
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
LTM
FY+1
1.15
0.96
938.73
19.43
-22.62%
-12.67%
0.958
64
4.500
3'031'029
3'609'170
3'984'129
FY+2
FQ+1
FQ+2
12/yy
12/yy
09/13 Y
09/14 Y
03/13 Q2 06/13 Q3
127'841.0 164'687.0 181'210.6 204'263.1
42'751.1
39'983.9
8.29x
10.49x
1.72x
1.41x
6.86x
7.20x
45'482.0
59'255.0
60'120.6
67'410.2
13'977.7
12'754.9
6.16x
5.76x
4.95x
4.42x
4.81x
4.69x
32'982.0
41'747.0
41'526.6
47'056.9
9'599.0
8'992.3
11.54x
11.56x
10.49x
9.30x
10.27x
9.90x
S&P Issuer Ratings
Long-Term Rating Date
16.04.2004
Long-Term Rating
NR
Long-Term Outlook
Short-Term Rating Date
Short-Term Rating
Credit Ratios
EBITDA/Interest Exp.
(EBITDA-Capex)/Interest Exp.
Net Debt/EBITDA
-2.31
Total Debt/EBITDA
0.00
Reference
Total Debt/Equity
0.0%
Total Debt/Capital
0.0%
Asset Turnover
0.98
Net Fixed Asset Turnover
14.17
Accounts receivable turnover-days
22.69
Inventory Days
5.12
Accounts Payable Turnover Day
84.69
Cash Conversion Cycle
-52.97
Sales/Revenue/Turnover
20.00
180'000.0
18.00
160'000.0
16.00
140'000.0
14.00
120'000.0
12.00
100'000.0
10.00
80'000.0
8.00
60'000.0
6.00
40'000.0
4.00
20'000.0
2.00
0.00
02.10.2009
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
14.0 M
700
500
Valuation Analysis
30.09.2008
37'491.0
2.39x
8'823.0
10.14x
6'119.0
18.91x
800
0.0
02.04.2010
02.10.2010
02.04.2011
02.10.2011
02.04.2012
02.10.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Apple Inc
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
FMR LLC
STATE STREET
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
SUSQUEHANNA INTERNAT
JP MORGAN
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
INVESCO LTD
JANUS CAPITAL MANAGE
MORGAN STANLEY
UBS
TIAA CREF INVESTMENT
CAPITAL GROUP COMPAN
NORGES BANK
CITIGROUP INCORPORAT
GOLDMAN SACHS GROUP
GEODE CAPITAL MANAGE
Firm Name
Piper Jaffray
Sanford C. Bernstein & Co
Scotia Capital
Oppenheimer & Co
Evercore Partners
EVA Dimensions
RBC Capital Markets
Edward Jones
Topeka Capital Markets Inc
Credit Suisse
Monness, Crespi, Hardt & Co
ABG Sundal Collier
Canaccord Genuity Corp
Barclays
BMO Capital Markets
Cowen and Company
Exane BNP Paribas
Tigress Financial Partners
Janney Montgomery Scott LLC
Jefferies
Stifel
Sterne, Agee & Leach
Nomura
Wells Fargo Securities, LLC
Credit Agricole Securities (USA)
Mizuho Securities USA Inc
ISI Group
BTIG LLC
Argus Research Corp
Wedge Partners
Robert W. Baird & Co
Raymond James
Societe Generale
Cross Research
William Blair & Co
Berenberg Bank
Pacific Crest Securities
JMP Securities
Needham & Co
S&P Capital IQ
Morgan Stanley
Telsey Advisory Group
JPMorgan
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
T ROWE PRICE ASSOCIA
SUSQUEHANNA INTERNAT
n/a
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
INVESCO LTD
n/a
n/a
n/a
TIAA-CREF INVESTMENT
n/a
NORGES BANK
CITIGROUP INCORPORAT
GOLDMAN SACHS GROUP
GEODE CAPITAL MANAGE
Analyst
EUGENE E MUNSTER
TONI SACCONAGHI
GUS PAPAGEORGIOU
ITTAI KIDRON
ROBERT CIHRA
ANDREW S ZAMFOTIS
AMIT DARYANANI
WILLIAM C KREHER
BRIAN J WHITE
KULBINDER GARCHA
JEFFREY FIDACARO
PER LINDBERG
T MICHAEL WALKLEY
BENJAMIN A REITZES
KEITH F BACHMAN
MATTHEW HOFFMAN
ALEXANDER PETERC
IVAN FEINSETH
WILLIAM CHOI
PETER J MISEK
AARON C RAKERS
SHAW WU
STUART JEFFREY
MAYNARD UM
AVI SILVER
ABHEY R LAMBA
BRIAN MARSHALL
WALTER P PIECYK JR
JAMES KELLEHER
BRIAN BLAIR
WILLIAM V POWER
TAVIS C MCCOURT
ANDY PERKINS
SHANNON S CROSS
ANIL K DORADLA
ADNAAN AHMAD
ANDY HARGREAVES
ALEX GAUNA
CHARLES WOLF
SCOTT H KESSLER
KATHRYN HUBERTY
THOMAS FORTE
MARK A MOSKOWITZ
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
13F
13F
13F
ULT-AGG
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
Recommendation
overweight
outperform
sector perform
outperform
overweight
overweight
outperform
buy
buy
outperform
buy
sell
buy
overweight
outperform
outperform
outperform
strong buy
buy
hold
buy
buy
neutral
outperform
outperform
buy
strong buy
buy
buy
no rating system
neutral
outperform
buy
buy
outperform
sell
sector perform
market perform
buy
strong buy
Overwt/In-Line
no rating system
overweight
Amt Held
49'566'789
42'083'340
41'472'347
36'865'333
26'631'043
23'598'905
16'882'717
15'541'148
13'550'305
12'973'383
12'677'606
10'155'052
8'062'807
7'890'584
7'768'584
7'650'330
7'531'087
6'999'016
6'361'655
6'358'050
% Out
5.28
4.48
4.42
3.93
2.84
2.51
1.8
1.65
1.44
1.38
1.35
1.08
0.86
0.84
0.83
0.81
0.8
0.75
0.68
0.68
Weighting
Change
5
5
3
5
5
5
5
5
5
5
5
1
5
5
5
5
5
5
5
3
5
5
3
5
5
5
5
5
5
#N/A N/A
3
5
5
5
5
1
3
3
5
5
5
#N/A N/A
5
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
Latest Chg
136'948
1'096'729
(4'409'314)
43'752
118'759
804'173
(883'277)
90'528
293'843
(1'805'929)
974'700
932'696
(842'844)
(249'589)
(7'786'595)
677'078
6'601'182
(1'211'280)
(559'069)
Target Price
767
725
528
550
675
#N/A N/A
600
#N/A N/A
888
600
670
400
600
530
580
#N/A N/A
700
#N/A N/A
610
420
650
630
490
#N/A N/A
505
575
600
540
600
#N/A N/A
465
600
560
580
#N/A N/A
360
#N/A N/A
#N/A N/A
710
600
630
550
725
File Dt
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
6 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
9 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
25.03.2013
25.03.2013
25.03.2013
24.03.2013
23.03.2013
22.03.2013
22.03.2013
21.03.2013
20.03.2013
20.03.2013
19.03.2013
19.03.2013
19.03.2013
18.03.2013
18.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
14.03.2013
13.03.2013
13.03.2013
11.03.2013
07.03.2013
06.03.2013
06.03.2013
05.03.2013
05.03.2013
04.03.2013
01.03.2013
26.02.2013
25.02.2013
22.02.2013
13.02.2013
12.02.2013
26.03.2013
AT&T Inc
AT&T Inc. is a communications holding company. The Company, through its
subsidiaries and affiliates, provides local and long-distance phone service,
wireless and data communications, Internet access and messaging, IP-based and
satellite television, security services, telecommunications equipment, and
directory advertising and publishing.
Price/Volume
40
20.0 M
25
12/2012
12/yy
38.58
29.95
1'113'120.00
36.58
-5.18%
22.14%
74.62%
5'491.6
200'883.08
69'844.00
0.0
333.0
4'868.00
266'192.09
15.0 M
15
10.0 M
10
5.0 M
5
0
m-12
31.12.2009
31.12.2010
122'513.0
124'280.0
1.91x
1.92x
40'515.0
39'037.0
5.78x
6.11x
12'138.0
19'864.0
13.54x
12.77x
Profitability
LTM-4Q
31.12.2011
126'723.0
1.82x
30'505.0
7.56x
3'944.0
14.82x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
127'434.0
1.99x
31'140.0
8.14x
7'264.0
14.59x
31'140.00
12'997.00
10.20%
8.19%
2.68%
7.34%
6.02%
0.47%
56.7%
24.4%
10.2%
5.7%
0.71
0.55
25.65%
75.62%
9.85
-
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
LTM
FY+1
4.84
0.75
5'487.56
90.54
21.09%
9.94%
0.751
39
3.308
4'595'189
5'277'244
5'650'454
FY+2
FQ+1
FQ+2
12/yy
12/yy
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
126'723.0 127'434.0 129'047.5 131'526.3
31'740.3
31'933.1
7.53x
8.22x
2.13x
2.11x
8.44x
8.45x
30'505.0
31'140.0
42'474.3
44'145.9
10'679.4
11'251.5
7.56x
8.14x
6.27x
6.03x
6.28x
6.19x
3'944.0
7'264.0
13'804.0
14'526.7
3'556.4
3'901.1
13.87x
14.47x
14.53x
13.54x
14.56x
14.16x
S&P Issuer Ratings
Long-Term Rating Date
06.12.2010
Long-Term Rating
ALong-Term Outlook
STABLE
Short-Term Rating Date
06.12.2010
Short-Term Rating
A-2
Credit Ratios
EBITDA/Interest Exp.
8.40
(EBITDA-Capex)/Interest Exp.
3.15
Net Debt/EBITDA
2.09
Total Debt/EBITDA
2.24
Reference
Total Debt/Equity
75.6%
Total Debt/Capital
43.0%
Asset Turnover
0.47
Net Fixed Asset Turnover
1.18
Accounts receivable turnover-days
37.18
Inventory Days
Accounts Payable Turnover Day
Cash Conversion Cycle
Sales/Revenue/Turnover
7.00
140'000.0
6.00
120'000.0
5.00
100'000.0
4.00
80'000.0
3.00
60'000.0
2.00
40'000.0
1.00
20'000.0
0.00
01.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
25.0 M
30
20
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (21.09.2012)
52-Week Low (10.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 20.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
T UN EQUITY YTD Change
T UN EQUITY YTD % CHANGE
31.12.2008
124'028.0
1.94x
42'946.0
5.62x
12'867.0
12.28x
30.0 M
35
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
AT&T Inc
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
EVERCORE TRUST COMPA
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
NORGES BANK
JP MORGAN
GEODE CAPITAL MANAGE
SUN LIFE FINANCIAL I
DIMENSIONAL FUND ADV
BANK OF AMERICA CORP
STATE FARM MUTUAL AU
BARROW HANLEY MEWHIN
UBS
FRANKLIN RESOURCES
Firm Name
Raymond James
Macquarie
Wells Fargo Securities, LLC
Tigress Financial Partners
Pacific Crest Securities
RBC Capital Markets
Evercore Partners
Piper Jaffray
Cowen and Company
Edward Jones
EVA Dimensions
JPMorgan
HSBC
Nomura
Oppenheimer & Co
Telsey Advisory Group
Independent Research GmbH
Guggenheim Securities LLC
Atlantic Equities LLP
Argus Research Corp
Deutsche Bank
Morgan Stanley
Hilliard Lyons
Jefferies
Robert W. Baird & Co
Stifel
Canaccord Genuity Corp
S&P Capital IQ
New Street Research
William Blair & Co
Scotia Capital
Daiwa Securities Co. Ltd.
Wedge Partners
Gabelli & Co
Goldman Sachs
FBR Capital Markets
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
EVERCORE TRUST COMPA
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
NORGES BANK
n/a
GEODE CAPITAL MANAGE
n/a
DIMENSIONAL FUND ADV
BANK OF AMERICA
STATE FARM MUTUAL AU
BARROW HANLEY MEWHIN
n/a
n/a
Analyst
FRANK G LOUTHAN
KEVIN SMITHEN
JENNIFER M FRITZSCHE
IVAN FEINSETH
MICHAEL BOWEN
JONATHAN ATKIN
JONATHAN SCHILDKRAUT
CHRISTOPHER M LARSEN
COLBY SYNESAEL
DAVID HEGER
ANDREW S ZAMFOTIS
PHILIP CUSICK
RICHARD DINEEN
MICHAEL L MCCORMACK
TIMOTHY K HORAN
JAISON BLAIR
MARKUS FRIEBEL
SHING YIN
CHRISTOPHER WATTS
JOSEPH F BONNER
BRETT FELDMAN
SIMON FLANNERY
DAVID B BURKS
THOMAS O SEITZ
WILLIAM V POWER
CHRISTOPHER C KING
GREGORY MILLER
TODD ROSENBLUTH
JONATHAN CHAPLIN
JAMES D BREEN JR
JEFFREY FAN
NACHI HOSHINO
BRIAN BLAIR
SERGEY DLUZHEVSKIY
JASON ARMSTRONG
DAVID DIXON
Source
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
ULT-AGG
Recommendation
market perform
underperform
outperform
underperform
sector perform
sector perform
equalweight
overweight
neutral
buy
underweight
overweight
overweight
buy
outperform
no rating system
sell
neutral
neutral
hold
hold
Overwt/In-Line
buy
hold
neutral
hold
hold
hold
neutral
market perform
sector underperform
underperform
no rating system
hold
neutral/neutral
outperform
Amt Held
319'268'420
255'585'884
241'131'927
236'591'214
172'536'775
158'231'635
83'364'487
78'531'043
75'934'975
72'522'164
41'221'593
38'091'495
37'606'981
34'575'958
32'596'443
32'340'952
29'793'395
29'566'054
29'045'444
28'788'510
% Out
5.81
4.65
4.39
4.31
3.14
2.88
1.52
1.43
1.38
1.32
0.75
0.69
0.68
0.63
0.59
0.59
0.54
0.54
0.53
0.52
Weighting
Change
3
1
5
1
3
3
3
5
3
5
1
5
5
5
5
#N/A N/A
1
3
3
3
3
5
5
3
3
3
3
3
3
3
1
1
#N/A N/A
3
3
5
M
M
M
N
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
3'167'576
2'728'154
(1'339'232)
264'245
(35'791'594)
(9'242'810)
(425'820)
(5'965'540)
(6'438'791)
509'569
(4'273'947)
(4'202'874)
(1'599'808)
148'516
(366'392)
(473'418)
(363'784)
1'487'151
Target Price
#N/A N/A
35
#N/A N/A
#N/A N/A
#N/A N/A
36
37
40
#N/A N/A
#N/A N/A
#N/A N/A
37
39
38
42
36
32
34
37
#N/A N/A
34
37
38
38
35
#N/A N/A
35
36
33
#N/A N/A
34
32
#N/A N/A
#N/A N/A
36
38
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
28.02.2013
Date
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
9 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Investment Advisor
Unclassified
Investment Advisor
Date
25.03.2013
25.03.2013
25.03.2013
25.03.2013
21.03.2013
14.03.2013
12.03.2013
12.03.2013
01.03.2013
26.02.2013
25.02.2013
22.02.2013
20.02.2013
15.02.2013
11.02.2013
10.02.2013
30.01.2013
30.01.2013
30.01.2013
28.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
24.01.2013
24.01.2013
12.12.2012
26.11.2012
12.11.2012
24.10.2012
15.08.2012
26.03.2013
Price/Volume
60
3.0 M
2.5 M
30
12/2012
12/yy
50.96
37.09
200'023.00
45.57
-10.58%
22.86%
56.24%
441.8
20'134.37
4'916.00
0.0
199.0
1'015.00
24'234.37
2.0 M
1.5 M
20
1.0 M
10
.5 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
3.5 M
40
Valuation Analysis
31.12.2008
11'864.0
0.87x
3'075.0
3.35x
1'635.0
5.88x
4.0 M
50
31.12.2009
31.12.2010
9'664.0
14'414.0
1.33x
1.88x
1'461.0
2'620.0
8.78x
10.33x
421.0
812.0
21.19x
25.19x
Profitability
LTM-4Q
31.12.2011
19'831.0
1.24x
4'236.0
5.78x
1'739.0
11.58x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
21'361.0
1.04x
3'760.0
5.88x
1'311.0
12.73x
3'760.00
2'192.00
10.26%
9.28%
5.09%
7.99%
6.90%
0.83%
18.7%
17.6%
10.3%
6.1%
2.53
1.41
18.42%
28.80%
4.41
4.96
LTM
12/yy
19'717.0
5.94x
4'197.0
5.84x
1'739.0
10.35x
12/yy
21'361.0
4.27x
3'760.0
5.88x
1'311.0
12.73x
FY+1
1.32
1.46
440.23
12.90
7.15%
11.96%
1.460
33
3.455
1'147'101
952'976
917'512
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
21'474.8
23'496.3
5'169.5
5'200.3
1.11x
0.99x
4.66x
4.61x
3'852.1
4'793.2
877.4
906.4
6.29x
5.06x
6.25x
5.95x
1'358.9
1'903.0
275.9
298.2
14.81x
10.47x
14.80x
13.66x
S&P Issuer Ratings
05.05.2006
A
STABLE
05.05.2006
A-1
17.90
4.05
1.04
1.31
28.8%
22.2%
0.83
2.65
83.04
73.84
36.23
120.65
Sales/Revenue/Turnover
40.00
25'000.0
35.00
20'000.0
30.00
25.00
15'000.0
20.00
10'000.0
15.00
10.00
5'000.0
5.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
WELLINGTON MANAGEMEN
FRANKLIN RESOURCES
DODGE & COX
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
HARRIS ASSOCIATES LP
SKAGEN AS
BANK OF NEW YORK MEL
MANNING & NAPIER ADV
PZENA INVESTMENT MAN
GREENHAVEN ASSOCIATE
NORTHERN TRUST CORPO
T ROWE PRICE ASSOCIA
INVESCO LTD
JP MORGAN
BANK OF AMERICA CORP
TIAA CREF INVESTMENT
Firm Name
Howard Weil Inc
Raymond James
Guggenheim Securities LLC
Sanford C. Bernstein & Co
ISI Group
RS Platou Markets
Susquehanna Financial Group
Jefferies
Macquarie
EVA Dimensions
JPMorgan
Goldman Sachs
Wells Fargo Securities, LLC
Cowen Securities LLC
Global Hunter Securities
Tudor Pickering & Co
Sterne, Agee & Leach
Argus Research Corp
Societe Generale
Deutsche Bank
Capital One Southcoast, Inc.
Johnson Rice & Co
Barclays
BMO Capital Markets
Morgan Stanley
RBC Capital Markets
Credit Suisse
FBR Capital Markets
Credit Agricole Securities (USA)
S&P Capital IQ
Portfolio Name
n/a
WELLINGTON MANAGEMEN
n/a
DODGE & COX
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
HARRIS ASSOC LP
Multiple Portfolios
BANK OF NEW YORK MEL
MANNING & NAPIER ADV
PZENA INVESTMENT MAN
GREENHAVEN ASSOCIATE
NORTHERN TRUST CORPO
T ROWE PRICE ASSOCIA
INVESCO LTD
n/a
BANK OF AMERICA
TIAA-CREF INVESTMENT
Analyst
WILLIAM SANCHEZ
J MARSHALL ADKINS
MICHAEL K LAMOTTE
SCOTT GRUBER
JUDSON E BAILEY
TURNER HOLM
CHARLES P MINERVINO
BRAD HANDLER
NIGEL BROWNE
CRAIG STERLING
J DAVID ANDERSON
WAQAR SYED
MATTHEW D CONLAN
JAMES D CRANDELL
BRIAN UHLMER
BYRON POPE
STEPHEN D GENGARO
PHILIP H WEISS
EDWARD C MUZTAFAGO
MICHAEL W URBAN
LUKE M LEMOINE
DANIEL BURKE
JAMES C WEST
ALAN D LAWS
OLE SLORER
KURT HALLEAD
JAMES WICKLUND
ROBERT J MACKENZIE
DAVID S HAVENS
STEWART GLICKMAN
Source
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
MF-AGG
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
Recommendation
sector perform
market perform
neutral
outperform
strong buy
neutral
neutral
hold
neutral
underweight
neutral
neutral/attractive
market perform
hold
neutral
accumulate
neutral
hold
hold
buy
neutral
overweight
overweight
market perform
Equalwt/Attractive
sector perform
neutral
market perform
buy
hold
Amt Held
43'960'093
28'403'334
28'208'849
25'283'308
21'202'445
19'231'851
18'606'548
12'101'066
10'787'021
9'604'582
8'886'668
7'795'466
7'509'120
7'033'639
6'416'357
6'165'135
5'383'131
4'016'339
3'679'173
3'540'405
% Out
9.95
6.43
6.38
5.72
4.8
4.35
4.21
2.74
2.44
2.17
2.01
1.76
1.7
1.59
1.45
1.4
1.22
0.91
0.83
0.8
Weighting
Change
3
3
3
5
5
3
3
3
3
1
3
3
3
3
3
4
3
3
3
5
3
5
5
3
3
3
3
3
5
3
M
M
M
M
M
M
M
M
M
D
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(3'037'575)
910'352
879'757
(508'506)
(685'215)
294'812
241'304
2'788'880
(11'057)
(28'716)
50'760
1'022'557
752'965
11'254
(521'016)
(354'486)
(317'368)
2'608'976
321'811
Target Price
49
#N/A N/A
50
64
52
49
46
48
48
#N/A N/A
53
55
#N/A N/A
50
41
#N/A N/A
#N/A N/A
#N/A N/A
49
59
47
#N/A N/A
54
43
50
48
40
48
54
48
File Dt
Inst Type
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
28.02.2013 Mutual Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
Not Provided
Not Provided
12 month
12 month
12 month
6 month
12 month
12 month
12 month
Not Provided
9 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Date
25.03.2013
25.03.2013
22.03.2013
21.03.2013
21.03.2013
21.03.2013
20.03.2013
18.03.2013
01.03.2013
25.02.2013
19.02.2013
14.02.2013
13.02.2013
11.02.2013
07.02.2013
04.02.2013
27.01.2013
25.01.2013
24.01.2013
24.01.2013
24.01.2013
24.01.2013
24.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
15.01.2013
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (19.03.2013)
52-Week Low (21.05.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 15.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
BAC UN EQUITY YTD Change
BAC UN EQUITY YTD % CHANGE
12/2012
12/yy
12.94
6.72
10'594'457.00
12.23
-5.49%
81.99%
91.32%
10'820.3
132'331.95
673'162.00
18'768.0
0.0
349'370.00
-
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
70.0 M
12
60.0 M
10
50.0 M
40.0 M
30.0 M
20.0 M
10.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
14
31.12.2009
31.12.2010
153'286.0
135'161.0
6'276.0
(2'238.0)
39.63x
10.76x
Profitability
LTM-4Q
31.12.2011
115'373.0
1'446.0
5.73x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
100'078.0
4'188.0
10.27x
3.69%
3.69%
0.19%
1.28%
0.46%
0.05%
5.0%
30.46%
308.52%
-
LTM
12/yy
12/yy
115'373.0 100'130.0
0.00x
0.00x
0.0
0.0
0.00x
0.00x
1'446.0
4'188.0
5.73x
12.62x
FY+1
0.33
1.56
10'814.46
161.31
23.72%
5.52%
1.555
41
3.488
23'785'188
28'368'698
25'527'114
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
90'792.0
92'022.0
23'431.6
22'672.4
11'417.3
14'896.3
2'728.2
3'116.9
12.08x
9.19x
12.12x
11.32x
S&P Issuer Ratings
29.11.2011
ANEG
29.11.2011
A-2
308.5%
74.0%
0.05
7.85
-
Sales/Revenue/Turnover
7.00
180'000.0
6.00
160'000.0
140'000.0
5.00
120'000.0
4.00
100'000.0
3.00
80'000.0
60'000.0
2.00
40'000.0
1.00
0.00
01.01.2010
20'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
JP MORGAN
CITIGROUP INCORPORAT
T ROWE PRICE ASSOCIA
CAPITAL GROUP COMPAN
WELLINGTON MANAGEMEN
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
DODGE & COX
FMR LLC
GOLDMAN SACHS GROUP
FAIRHOLME CAPITAL MA
NORGES BANK
KOREA INVESTMENT COR
UBS
GEODE CAPITAL MANAGE
BARROW HANLEY MEWHIN
Firm Name
HSBC
Sanford C. Bernstein & Co
JMP Securities
ISI Group
Rafferty Capital Markets
Edward Jones
Keefe, Bruyette & Woods
Robert W. Baird & Co
Raymond James
Evercore Partners
FBR Capital Markets
Sterne, Agee & Leach
Wells Fargo Securities, LLC
Portales Partners
Drexel Hamilton LLC
RBC Capital Markets
Scotia Capital
Morgan Stanley
Barclays
Credit Agricole Securities (USA)
Atlantic Equities LLP
Daiwa Securities Co. Ltd.
SunTrust Robinson Humphrey
Guggenheim Securities LLC
JPMorgan
Oppenheimer & Co
Independent Research GmbH
Credit Suisse
Buckingham Research Group
Nomura
S&P Capital IQ
EVA Dimensions
Sandler O'Neill & Partners, LP
Goldman Sachs
Deutsche Bank
Argus Research Corp
Meredith Whitney Advisory Group
Phillip Securities
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
CITIGROUP INCORPORAT
T ROWE PRICE ASSOCIA
n/a
WELLINGTON MANAGEMEN
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
DODGE & COX
n/a
GOLDMAN SACHS GROUP
FAIRHOLME CAPITAL MA
NORGES BANK
KOREA INVESTMENT COR
n/a
GEODE CAPITAL MANAGE
BARROW HANLEY MEWHIN
Analyst
ROBERT MURPHY
JOHN E MCDONALD
DAVID M TRONE
Ed Najarian
RICHARD X BOVE SR
SHANNON L STEMM
CHRISTOPHER M MUTASCIO
DAVID A GEORGE
ANTHONY J POLINI
ANDREW A MARQUARDT
PAUL J MILLER JR
TODD L HAGERMAN
MATTHEW H BURNELL
CHARLES W PEABODY
DAVID B HILDER
JOSEPH K MORFORD
KEVIN R CHOQUETTE
BETSY L GRASECK
JASON M GOLDBERG
MICHAEL L MAYO
RICHARD STAITE
KAZUKI WATANABE
ERIC WASSERSTROM
MARTY L MOSBY III
VIVEK JUNEJA
CHRISTOPHER M KOTOWSKI
STEFAN BONGARDT
MOSHE A ORENBUCH
JAMES F MITCHELL
GLENN P SCHORR
ERIK M OJA
AUSTIN BURKETT
JEFFERY HARTE
RICHARD N RAMSDEN
MATTHEW D O'CONNOR
DAVID RITTER
MEREDITH A WHITNEY
MAGDALENE CHOONG
Source
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
Recommendation
underweight
market perform
market perform
buy
buy
buy
outperform
neutral
strong buy
overweight
market perform
neutral
market perform
underperform
buy
outperform
sector outperform
Equalwt/Attractive
equalweight
sell
overweight
underperform
neutral
buy
overweight
market perform
hold
neutral
buy
neutral
hold
sell
hold
neutral/attractive
hold
hold
hold
neutral
Amt Held
531'533'510
463'816'602
450'655'804
285'934'731
246'786'050
226'042'014
159'341'503
142'985'000
142'958'634
136'274'948
130'735'014
130'433'329
124'553'207
117'521'551
100'506'715
77'988'479
73'713'245
73'522'238
71'322'340
69'716'837
% Out
4.91
4.29
4.16
2.64
2.28
2.09
1.47
1.32
1.32
1.26
1.21
1.21
1.15
1.09
0.93
0.72
0.68
0.68
0.66
0.64
Weighting
Change
1
3
3
5
5
5
5
3
5
5
3
3
3
1
5
5
5
3
3
1
5
1
3
5
5
3
3
3
5
3
3
1
3
3
3
3
3
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
Latest Chg
11'785'591
12'653'244
17'358'258
31'381'187
225'995'599
4'585'610
(6'000'000)
4'737'066
1'299'145
14'374'494
(2'686'520)
66'959'607
(58'896'556)
(1'708'540)
13'656'352
(13'600)
(4'514'627)
(6'444'529)
635'330
Target Price
10
13
#N/A N/A
14
15
#N/A N/A
14
12
14
13
12
12
#N/A N/A
#N/A N/A
14
14
15
12
10
10
15
10
13
15
14
#N/A N/A
13
12
15
11
13
#N/A N/A
13
13
11
#N/A N/A
#N/A N/A
#N/A N/A
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
9 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Government
Unclassified
Investment Advisor
Investment Advisor
Date
26.03.2013
22.03.2013
22.03.2013
21.03.2013
19.03.2013
18.03.2013
18.03.2013
18.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
13.03.2013
01.03.2013
25.02.2013
14.02.2013
08.02.2013
06.02.2013
05.02.2013
30.01.2013
23.01.2013
18.01.2013
17.01.2013
17.01.2013
17.01.2013
17.01.2013
15.01.2013
11.01.2013
07.01.2013
04.01.2013
24.12.2012
17.10.2012
26.01.2011
26.03.2013
Price/Volume
35
6.0 M
30
5.0 M
25
4.0 M
20
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (14.03.2013)
52-Week Low (04.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
BK UN EQUITY YTD Change
BK UN EQUITY YTD % CHANGE
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
2.0 M
10
1.0 M
5
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
3.0 M
15
12/2012
12/yy
29.11
19.31
257'536.00
28.34
-2.65%
46.76%
90.61%
1'162.0
32'929.72
62'098.00
1'068.0
1'011.0
145'340.00
-
31.12.2009
31.12.2010
8'279.0
14'920.0
(1'367.0)
2'518.0
13.07x
Profitability
LTM-4Q
31.12.2011
15'804.0
2'516.0
9.35x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
15'089.0
2'445.0
10.98x
26.53%
22.69%
0.71%
6.97%
2.62%
0.05%
16.8%
17.30%
175.60%
-
LTM
12/yy
15'392.0
0.00x
0.0
0.00x
2'516.0
8.97x
12/yy
15'596.0
0.00x
0.0
0.00x
2'445.0
11.17x
FY+1
1.83
1.29
1'153.85
18.46
17.78%
10.80%
1.294
28
3.214
1'083'033
1'365'475
1'423'845
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
14'719.1
15'436.1
3'589.6
3'674.3
2'508.3
2'809.5
490.9
660.6
12.60x
10.98x
12.45x
11.99x
S&P Issuer Ratings
29.11.2011
A+
NEG
29.11.2011
A-1
175.6%
62.4%
0.05
9.34
-
Sales/Revenue/Turnover
70.00
18'000.0
60.00
16'000.0
14'000.0
50.00
12'000.0
40.00
10'000.0
30.00
8'000.0
6'000.0
20.00
4'000.0
10.00
0.00
01.01.2010
2'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
DAVIS SELECTED ADVIS
SUN LIFE FINANCIAL I
DODGE & COX
BLACKROCK
VANGUARD GROUP INC
STATE STREET
SOUTHEASTERN ASSET M
VANGUARD GROUP INC
FIDUCIARY MANAGEMENT
FIRST EAGLE INVESTME
BERKSHIRE HATHAWAY I
CI INVESTMENTS INC
LONGVIEW PARTNERS (G
NORTHERN TRUST CORPO
INVESCO LTD
ARTISAN PARTNERS HOL
BANK OF NEW YORK MEL
T ROWE PRICE ASSOCIA
THIRD AVENUE MANAGEM
MACQUARIE GROUP
Firm Name
ISI Group
Argus Research Corp
Rafferty Capital Markets
Portales Partners
Edward Jones
Sanford C. Bernstein & Co
S&P Capital IQ
Jefferies
Goldman Sachs
Barclays
Evercore Partners
JPMorgan
Sandler O'Neill & Partners, LP
Macquarie
Morgan Stanley
Credit Suisse
Guggenheim Securities LLC
Buckingham Research Group
Keefe, Bruyette & Woods
Nomura
RBC Capital Markets
Raymond James
Credit Agricole Securities (USA)
EVA Dimensions
Stifel
Portfolio Name
DAVIS SELECTED ADVIS
n/a
DODGE & COX
n/a
VANGUARD GROUP INC
n/a
SOUTHEASTERN ASSET M
Multiple Portfolios
FIDUCIARY MANAGEMENT
FIRST EAGLE INVESTME
n/a
CI INVESTMENTS INC
LONGVIEW PARTNERS (G
NORTHERN TRUST CORPO
INVESCO LTD
ARTISAN PARTNERS LP
BANK OF NEW YORK MEL
T ROWE PRICE ASSOCIA
THIRD AVENUE MANAGEM
n/a
Analyst
BRIAN BEDELL
DAVID RITTER
RICHARD X BOVE SR
CHARLES W PEABODY
JIM SHANAHAN
CHARLES BRADLEY HINTZ
SONIA PARECHANIAN
KENNETH M USDIN
ALEXANDER BLOSTEIN
JASON M GOLDBERG
ANDREW A MARQUARDT
VIVEK JUNEJA
JEFFERY HARTE
JOHN MORAN
BETSY L GRASECK
HOWARD H CHEN
MARTY L MOSBY III
JAMES F MITCHELL
ROBERT A LEE
GLENN P SCHORR
GERARD S CASSIDY
DAVID J LONG
MICHAEL L MAYO
AUSTIN BURKETT
J JEFFREY HOPSON
Source
13F
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
Recommendation
neutral
buy
buy
sector perform
hold
market perform
hold
hold
Sell/Neutral
overweight
equalweight
neutral
hold
neutral
Underwt/Attractive
neutral
neutral
buy
market perform
neutral
sector perform
outperform
underperform
buy
hold
Amt Held
94'886'202
69'389'487
61'860'295
60'716'360
52'196'129
50'748'970
45'007'723
32'294'845
26'669'956
24'408'690
19'633'915
19'385'000
17'217'841
16'126'130
16'104'634
13'151'547
11'518'565
11'184'513
10'290'830
10'245'217
% Out
8.17
5.97
5.32
5.23
4.49
4.37
3.87
2.78
2.3
2.1
1.69
1.67
1.48
1.39
1.39
1.13
0.99
0.96
0.89
0.88
Weighting
Change
3
5
5
3
3
3
3
3
1
5
3
3
3
3
1
3
3
5
3
3
3
5
1
5
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
D
M
M
M
M
Latest Chg
(9'347'696)
478'678
(1'432'950)
(264'164)
2'109'116
2'863'838
(712'232)
(15'821)
231'000
773'015
(103'322)
(708'788)
2'081'341
(3'059'848)
(12'470)
116'950
(119'165)
Target Price
29
35
40
#N/A N/A
#N/A N/A
27
33
29
23
30
26
28
29
29
23
24
28
32
27
26
26
29
27
#N/A N/A
#N/A N/A
File Dt
Inst Type
31.12.2012
Investment Advisor
31.01.2013
Investment Advisor
31.12.2012
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
Date
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
18 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Date
21.03.2013
19.03.2013
15.03.2013
15.03.2013
14.03.2013
08.03.2013
08.03.2013
04.03.2013
03.03.2013
01.03.2013
28.02.2013
25.02.2013
25.02.2013
19.02.2013
13.02.2013
13.02.2013
05.02.2013
04.02.2013
27.01.2013
18.01.2013
17.01.2013
17.01.2013
16.01.2013
15.01.2013
18.10.2012
26.03.2013
Price/Volume
80
2.0 M
50
40
12/2012
12/yy
71.33
48.98
129'766.00
71.09
-0.34%
45.14%
97.63%
543.4
38'629.46
5'930.00
0.0
40.0
3'270.00
41'329.46
1.5 M
30
1.0 M
20
.5 M
10
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
2.5 M
60
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (25.03.2013)
52-Week Low (14.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 11.03.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
BAX UN EQUITY YTD Change
BAX UN EQUITY YTD % CHANGE
31.12.2008
12'348.0
2.81x
3'195.0
10.84x
2'014.0
15.86x
3.0 M
70
31.12.2009
31.12.2010
12'562.0
12'843.0
2.93x
2.44x
3'515.0
2'821.0
10.49x
11.11x
2'205.0
1'420.0
15.44x
12.72x
Profitability
LTM-4Q
31.12.2011
13'893.0
2.18x
3'616.0
8.38x
2'224.0
11.48x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
14'190.0
2.76x
3'533.0
11.07x
2'326.0
14.75x
3'533.00
2'821.00
19.88%
20.36%
11.79%
34.40%
19.73%
0.72%
51.5%
24.9%
19.9%
16.4%
1.95
1.20
29.08%
85.47%
5.86
2.54
LTM
12/yy
13'893.0
9.64x
3'616.0
8.38x
2'224.0
11.70x
12/yy
14'190.0
10.11x
3'533.0
11.07x
2'326.0
14.75x
FY+1
2.21
0.89
542.12
6.22
21.91%
7.33%
0.887
22
4.364
684'233
789'734
732'843
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
15'474.9
16'932.9
3'483.9
3'721.5
2.78x
2.48x
11.99x
12.25x
4'246.5
4'721.1
937.8
1'023.6
9.74x
8.76x
9.73x
9.22x
2'567.8
2'835.6
575.2
625.0
15.14x
13.65x
15.16x
14.78x
S&P Issuer Ratings
06.12.2012
A
STABLE
24.10.2008
A-1
16.28
10.93
0.75
1.68
85.5%
45.9%
0.72
2.44
62.48
144.27
40.44
166.31
Sales/Revenue/Turnover
14.00
16'000.0
12.00
14'000.0
12'000.0
10.00
10'000.0
8.00
8'000.0
6.00
6'000.0
4.00
4'000.0
2.00
2'000.0
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
STATE STREET
BARROW HANLEY MEWHIN
VANGUARD GROUP INC
FMR LLC
STATE FARM MUTUAL AU
BROWN BROTHERS HARRI
T ROWE PRICE ASSOCIA
NORTHERN TRUST CORPO
BANK OF AMERICA CORP
INSTITUTIONAL CAPITA
BANK OF NEW YORK MEL
ABERDEEN
STATE FARM MUTUAL AU
JP MORGAN
TIAA CREF INVESTMENT
UBS
PUTNAM INVESTMENT MA
Firm Name
Morgan Stanley
Edward Jones
Raymond James
CL King & Associates
Cowen and Company
Mizuho Securities USA Inc
Sanford C. Bernstein & Co
BMO Capital Markets
EVA Dimensions
RBC Capital Markets
Barclays
Piper Jaffray
Leerink Swann & Co
Stifel
William Blair & Co
S&P Capital IQ
Credit Agricole Securities (USA)
JPMorgan
Deutsche Bank
Goldman Sachs
Argus Research Corp
Maxim Group LLC
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
BARROW HANLEY MEWHIN
Multiple Portfolios
n/a
STATE FARM MUTUAL AU
BROWN BROTHERS HARRI
T ROWE PRICE ASSOCIA
NORTHERN TRUST CORPO
BANK OF AMERICA
INSTITUTIONAL CAPITA
BANK OF NEW YORK MEL
n/a
STATE FARM MUTUAL AU
n/a
TIAA-CREF INVESTMENT
n/a
PUTNAM INVESTMENT MA
Analyst
DAVID R LEWIS
JEFF WINDAU
LAWRENCE S KEUSCH
ROBERT M GOLDMAN
JOSHUA JENNINGS
MICHAEL S MATSON
DERRICK SUNG
JOANNE K WUENSCH
ANDREW S ZAMFOTIS
GLENN J NOVARRO
MATTHEW TAYLOR
MATT MIKSIC
DANIELLE ANTALFFY
FREDERICK A WISE
BENJAMIN C ANDREW
HERMAN SAFTLAS
JONATHAN PALMER
MICHAEL N WEINSTEIN
KRISTEN M STEWART
DAVID H ROMAN
DAVID H TOUNG
ANTHONY PETRONE
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
Sch-D
ULT-AGG
13F
ULT-AGG
13F
Recommendation
Overwt/In-Line
buy
outperform
neutral
outperform
neutral
outperform
outperform
overweight
outperform
equalweight
overweight
outperform
hold
market perform
buy
outperform
not rated
hold
not rated
hold
not rated
Amt Held
56'167'155
27'389'435
25'271'906
25'153'116
19'834'801
15'892'696
13'214'861
13'167'494
12'154'926
10'341'473
8'497'226
8'388'340
7'956'219
7'344'642
6'799'752
6'718'327
6'235'941
5'981'412
5'371'812
5'353'132
% Out
10.34
5.04
4.65
4.63
3.65
2.92
2.43
2.42
2.24
1.9
1.56
1.54
1.46
1.35
1.25
1.24
1.15
1.1
0.99
0.99
Weighting
Change
5
5
5
3
5
3
5
5
5
5
3
5
5
3
3
5
5
#N/A N/A
3
#N/A N/A
3
#N/A N/A
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
1'767'548
(127'324)
243'698
449'609
(397'384)
5'534'571
197'569
(845'032)
94'036
537'117
(266'282)
(473'290)
5'442'000
1'645
(136'727)
(43'557)
34'341
(734'256)
Target Price
84
#N/A N/A
75
#N/A N/A
#N/A N/A
67
82
75
#N/A N/A
72
70
76
#N/A N/A
#N/A N/A
#N/A N/A
76
77
#N/A N/A
71
#N/A N/A
#N/A N/A
#N/A N/A
File Dt
31.12.2012
31.01.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
30.09.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
Date
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Insurance Company
Unclassified
Investment Advisor
Unclassified
Investment Advisor
Date
25.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
18.03.2013
13.03.2013
07.03.2013
05.03.2013
26.02.2013
22.02.2013
27.01.2013
25.01.2013
25.01.2013
24.01.2013
24.01.2013
24.01.2013
22.01.2013
04.01.2013
04.12.2012
01.03.2012
16.10.2009
26.03.2013
Price/Volume
12/2012
12/yy
104.25
78.28
318'121.00
103.37
-0.84%
32.05%
92.88%
1'126.0
254'778.23
62'736.00
0.0
3'941.0
186'759.00
134'696.24
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
Price/ Cash Flow
1.20
12.0 M
100
10.0 M
80
8.0 M
60
6.0 M
40
4.0 M
20
2.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
120
31.12.2009
31.12.2010
112'493.0
136'185.0
0.35x
0.78x
15'985.0
25'185.0
2.48x
4.23x
8'055.0
12'967.0
Profitability
LTM-4Q
31.12.2011
143'688.0
0.64x
22'008.0
4.15x
10'254.0
-
31.12.2012
162'463.0
0.62x
29'524.0
3.39x
14'824.0
29'524.00
24'378.00
15.01%
13.69%
3.62%
8.41%
6.94%
0.40%
23.5%
18.2%
15.0%
9.1%
1.49
1.43
14.68%
33.43%
4.81
13.33
LTM
12/yy
12/yy
143'688.0 162'463.0
2.56x
2.38x
22'008.0
29'524.0
4.15x
3.39x
10'254.0
14'824.0
0.00x
0.00x
0.87
1'032.76
12.22
25.54%
15.24%
0.874
3
3.000
1'210'057
1'591'718
1'513'609
FY+1
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1
06/13 Q2
AA+
NEG
13.78
9.22
-4.20
2.12
33.4%
24.7%
0.40
1.57
76.04
27.46
99.67
3.83
Sales/Revenue/Turnover
180'000.0
160'000.0
1.00
0.80
140'000.0
120'000.0
100'000.0
0.60
80'000.0
60'000.0
0.40
0.20
40'000.0
20'000.0
0.0
0.00
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
GATES FOUNDATION
GATES FOUNDATION
BLACKROCK
STATE STREET
VANGUARD GROUP INC
VANGUARD GROUP INC
NORTHERN TRUST CORPO
FMR LLC
BANK OF NEW YORK MEL
GEODE CAPITAL MANAGE
EAGLE CAPITAL MANAGE
TIAA CREF INVESTMENT
JP MORGAN
D E SHAW & COMPANY I
FIDUCIARY MANAGEMENT
MORGAN STANLEY
BANK OF AMERICA CORP
NEW YORK STATE COMMO
ALLIANCE BERNSTEIN
DEUTSCHE BANK AG
Firm Name
EVA Dimensions
Barclays
S&P Capital IQ
Portfolio Name
BILL & MELINDA FOUND
n/a
n/a
n/a
VANGUARD GROUP INC
Multiple Portfolios
NORTHERN TRUST CORPO
n/a
BANK OF NEW YORK MEL
GEODE CAPITAL MANAGE
EAGLE CAPITAL MANAGE
TIAA-CREF INVESTMENT
n/a
D E SHAW & CO
FIDUCIARY MANAGEMENT
n/a
BANK OF AMERICA
NEW YORK STATE COMMO
n/a
DEUTSCHE BANK AKTIEN
Analyst
AUSTIN BURKETT
JAY H GELB
CATHY SEIFERT
Source
13F
Research
ULT-AGG
ULT-AGG
13F
MF-AGG
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
Recommendation
underweight
overweight
hold
Amt Held
87'081'373
87'081'373
77'074'322
75'440'675
54'930'572
30'660'470
20'791'931
18'336'741
17'876'029
12'060'161
10'466'779
9'289'649
8'703'898
7'645'865
7'063'428
6'634'655
6'104'157
6'007'207
5'696'660
5'672'149
% Out
7.73
7.73
6.84
6.7
4.88
2.72
1.85
1.63
1.59
1.07
0.93
0.83
0.77
0.68
0.63
0.59
0.54
0.53
0.51
0.5
Weighting
Change
1
5
3
U
M
M
Latest Chg
(6'250'000)
918'626
4'132'565
1'194'300
249'896
2'396'700
(173'106)
(1'241'696)
1'906'404
(896'170)
1'509'930
1'726'351
52'252
(89'373)
199'861
59'600
861'902
3'185'272
Target Price
#N/A N/A
119
101
File Dt
Inst Type
31.12.2012
Endowment
31.12.2012
Endowment
22.03.2013
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.01.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Pension Fund (ERISA)
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
Not Provided
Not Provided
Not Provided
Date
05.03.2013
04.03.2013
16.01.2013
26.03.2013
Boeing Co/The
The Boeing Company, together with its subsidiaries, develops, produces, and
markets commercial jet aircraft, as well as provides related support services to
the commercial airline industry worldwide. The Company also researches,
develops, produces, modifies, and supports information, space, and defense
systems, including military aircraft, helicopters and space and missile systems.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (05.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 01.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
BA UN EQUITY YTD Change
BA UN EQUITY YTD % CHANGE
12/2012
12/yy
86.83
66.84
491'545.00
86.71
-0.14%
29.73%
91.65%
756.2
65'567.11
10'409.00
0.0
100.0
13'558.00
62'518.11
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
8.0 M
7.0 M
6.0 M
5.0 M
4.0 M
3.0 M
2.0 M
1.0 M
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
100
90
80
70
60
50
40
30
20
10
0
m-12
31.12.2009
31.12.2010
68'281.0
64'306.0
0.60x
0.78x
3'786.0
6'692.0
10.86x
7.47x
1'312.0
3'307.0
28.64x
15.54x
Profitability
LTM-4Q
31.12.2011
68'735.0
0.81x
7'480.0
7.46x
4'018.0
15.35x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
81'698.0
0.66x
8'118.0
6.64x
3'900.0
14.75x
8'118.00
6'307.00
7.72%
7.23%
4.62%
83.14%
26.00%
0.97%
16.0%
9.9%
7.7%
4.8%
1.27
0.43
11.71%
177.42%
13.35
1.96
LTM
12/yy
68'735.0
3.20x
7'481.0
7.46x
4'018.0
15.38x
12/yy
81'698.0
2.69x
8'118.0
6.64x
3'900.0
14.75x
FY+1
2.03
1.13
752.79
9.63
18.22%
15.81%
1.129
30
4.400
1'045'044
1'130'596
1'275'064
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
84'090.5
91'512.6
19'197.8
20'629.4
0.74x
0.66x
3.31x
3.09x
8'115.2
9'169.8
1'854.3
2'016.1
7.70x
6.82x
7.75x
4'856.0
4'974.6
1'038.4
1'049.4
13.68x
12.13x
14.01x
13.43x
S&P Issuer Ratings
29.07.2009
A
STABLE
05.02.2002
A-1
15.12
11.95
-0.39
1.28
177.4%
63.6%
0.97
8.61
27.42
186.59
43.93
170.08
Sales/Revenue/Turnover
30.00
90'000.0
80'000.0
25.00
70'000.0
60'000.0
20.00
50'000.0
15.00
40'000.0
30'000.0
10.00
20'000.0
5.00
0.00
01.01.2010
10'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Boeing Co/The
Holdings By:
All
Holder Name
CAPITAL GROUP COMPAN
EVERCORE TRUST COMPA
BLACKROCK
STATE STREET
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
JENNISON ASSOCIATES
WELLINGTON MANAGEMEN
NORTHERN TRUST CORPO
NEUBERGER BERMAN LLC
TIAA CREF INVESTMENT
GOLDMAN SACHS GROUP
BANK OF NEW YORK MEL
FMR LLC
UBS
PRIMECAP MANAGEMENT
HARRIS ASSOCIATES LP
OPPENHEIMERFUNDS INC
ALLIANCE BERNSTEIN
Firm Name
Wells Fargo Securities, LLC
Jefferies
Sanford C. Bernstein & Co
RBC Capital Markets
Imperial Capital LLC
Societe Generale
Edward Jones
CRT Capital Group
Cowen and Company
Drexel Hamilton LLC
Stifel
Buckingham Research Group
Sterne, Agee & Leach
BB&T Capital Markets
Tigress Financial Partners
Deutsche Bank
Credit Suisse
D.A. Davidson & Co
EVA Dimensions
Argus Research Corp
JPMorgan
Barclays
Goldman Sachs
Oppenheimer & Co
S&P Capital IQ
EarlyBirdCapital Inc
Gabelli & Co
McAdams Wright Ragen Inc
Portfolio Name
n/a
EVERCORE TRUST COMPA
n/a
n/a
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
Multiple Portfolios
JENNISON ASSOCIATES
WELLINGTON MANAGEMEN
NORTHERN TRUST CORPO
NEUBERGER BERMAN GRO
TIAA-CREF INVESTMENT
GOLDMAN SACHS GROUP
BANK OF NEW YORK MEL
n/a
n/a
PRIMECAP MANAGEMENT
HARRIS ASSOC LP
OPPENHEIMER FUNDS IN
n/a
Analyst
SAMUEL J PEARLSTEIN
HOWARD A RUBEL
DOUGLAS S HARNED
ROBERT STALLARD
KEN HERBERT
ZAFAR KHAN
CHRISTIAN MAYES
MICHAEL W DERCHIN
CAI VON RUMOHR
RICHARD WHITTINGTON
STEPHEN E LEVENSON
RICHARD SAFRAN
PETER J ARMENT
F CARTER LEAKE
IVAN FEINSETH
MYLES WALTON
ROBERT M SPINGARN
JB GROH
CRAIG STERLING
NATHANIEL GABRIEL
JOSEPH B NADOL III
CARTER COPELAND
NOAH POPONAK
YAIR REINER
RICHARD TORTORIELLO
ALEX P HAMILTON
JAMES FOUNG
SID PARAKH
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
13F
MF-AGG
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
Recommendation
outperform
buy
outperform
outperform
in-line
sell
hold
buy
outperform
buy
buy
buy
buy
hold
neutral
buy
outperform
neutral
overweight
buy
overweight
overweight
buy/attractive
outperform
hold
buy
buy
buy
Amt Held
124'807'600
64'066'646
40'451'778
32'429'809
32'404'483
31'191'388
20'222'234
12'663'099
11'462'113
9'584'290
8'865'899
8'553'023
8'348'581
7'999'274
6'969'980
6'858'944
6'830'861
6'676'786
5'251'259
4'865'519
% Out
16.51
8.47
5.35
4.29
4.29
4.12
2.67
1.67
1.52
1.27
1.17
1.13
1.1
1.06
0.92
0.91
0.9
0.88
0.69
0.64
Weighting
Change
5
5
5
5
3
1
3
5
5
5
5
5
5
3
3
5
5
3
5
5
5
5
5
5
3
5
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
U
N
M
M
M
D
M
M
M
M
M
M
M
M
M
Latest Chg
11'795'815
(5'838'781)
(318'726)
467'253
1'085'734
(146'171)
321'969
6'797'654
30'332
412'409
(337'665)
655'156
99'574
(351'746)
(255'578)
(734'500)
37'916
1'198'120
(122'715)
Target Price
#N/A N/A
87
98
94
82
70
#N/A N/A
87
#N/A N/A
90
100
99
100
#N/A N/A
#N/A N/A
90
88
83
#N/A N/A
88
94
95
88
90
82
88
#N/A N/A
60
File Dt
31.12.2012
31.12.2012
22.03.2013
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
18 month
Not Provided
Not Provided
9 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
24 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
25.03.2013
22.03.2013
22.03.2013
21.03.2013
21.03.2013
19.03.2013
19.03.2013
19.03.2013
19.03.2013
19.03.2013
18.03.2013
18.03.2013
13.03.2013
13.03.2013
13.03.2013
07.03.2013
06.03.2013
26.02.2013
18.02.2013
01.02.2013
31.01.2013
31.01.2013
30.01.2013
30.01.2013
17.01.2013
18.07.2012
17.05.2012
02.06.2009
26.03.2013
Bristol-Myers Squibb Co
Bristol-Myers Squibb Company is a global biopharmaceutical company. The Company
develops, licenses, manufactures, markets, and sells pharmaceutical and
nutritional products. Bristol-Myers Squibb products and experimental therapies
address cancer, heart disease, HIV/AIDS, diabetes, rheumatoid arthritis,
hepatitis, organ transplant rejection, and psychiatric disorders.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (15.11.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 01.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
BMY UN EQUITY YTD Change
BMY UN EQUITY YTD % CHANGE
12/2012
12/yy
40.73
30.64
497'255.00
40.62
-0.27%
32.57%
97.86%
1'637.4
66'509.34
7'394.00
0.0
15.0
6'352.00
67'566.34
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
9.0 M
40
8.0 M
35
7.0 M
30
6.0 M
25
5.0 M
20
4.0 M
15
3.0 M
10
2.0 M
1.0 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
45
31.12.2009
31.12.2010
18'808.0
19'484.0
2.10x
2.07x
5'646.0
6'722.0
7.01x
6.01x
10'612.0
3'102.0
13.65x
12.26x
Profitability
LTM-4Q
31.12.2011
21'244.0
2.50x
7'448.0
7.13x
3'709.0
14.93x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
17'621.0
3.07x
4'771.0
11.36x
1'960.0
17.91x
4'771.00
4'090.00
23.21%
13.28%
5.69%
13.25%
0.51%
73.8%
27.1%
23.2%
11.1%
1.15
0.71
20.60%
54.28%
5.16
3.03
LTM
12/yy
21'244.0
8.72x
7'476.0
7.11x
3'709.0
15.73x
12/yy
17'621.0
12.50x
4'771.0
11.36x
1'960.0
17.34x
FY+1
3.37
0.62
1'634.01
40.32
25.91%
25.97%
0.619
25
3.400
2'354'593
2'165'513
2'151'073
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
16'601.9
17'869.1
3'910.8
4'143.9
4.33x
3.98x
4'218.7
5'048.1
942.0
968.0
16.03x
13.40x
17.51x
3'016.6
3'516.9
716.3
759.5
22.05x
18.66x
22.14x
21.24x
S&P Issuer Ratings
06.09.2006
A+
STABLE
31.05.2012
A-1+
26.21
23.20
0.22
1.55
54.3%
35.2%
0.51
3.58
70.89
120.72
180.08
11.53
Sales/Revenue/Turnover
14.00
25'000.0
12.00
20'000.0
10.00
15'000.0
8.00
6.00
10'000.0
4.00
5'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Bristol-Myers Squibb Co
Holdings By:
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
NORTHERN TRUST CORPO
AMERIPRISE FINANCIAL
BANK OF NEW YORK MEL
INVESCO LTD
MORGAN STANLEY
GOLDMAN SACHS GROUP
LOOMIS SAYLES & COMP
BANK OF AMERICA CORP
JENNISON ASSOCIATES
NORGES BANK
RENAISSANCE TECHNOLO
FEDERATED INVESTORS
T ROWE PRICE ASSOCIA
OPPENHEIMERFUNDS INC
Firm Name
Edward Jones
Wells Fargo Securities, LLC
Goldman Sachs
BMO Capital Markets
Barclays
Cowen and Company
Jefferies
Morgan Stanley
MKM Partners
Sanford C. Bernstein & Co
William Blair & Co
ISI Group
Leerink Swann & Co
Argus Research Corp
Credit Suisse
EVA Dimensions
Hilliard Lyons
JPMorgan
S&P Capital IQ
Atlantic Equities LLP
Credit Agricole Securities (USA)
Cyrrus
MP Advisors Pvt Ltd
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
WELLINGTON MANAGEMEN
NORTHERN TRUST CORPO
AMERIPRISE FINANCIAL
BANK OF NEW YORK MEL
INVESCO LTD
n/a
GOLDMAN SACHS GROUP
LOOMIS SAYLES & CO L
BANK OF AMERICA
JENNISON ASSOCIATES
NORGES BANK
RENAISSANCE TECHNOLO
FEDERATED INVESTORS
T ROWE PRICE ASSOCIA
OPPENHEIMER FUNDS IN
Analyst
JUDSON CLARK
MICHAEL K TONG
JAMI E RUBIN
ALEX ARFAEI
CHARLES ANTHONY BUTLER
STEVEN R SCALA
JEFFREY HOLFORD
DAVID R RISINGER
JON LECROY
TIMOTHY M ANDERSON
JOHN S SONNIER
MARK J SCHOENEBAUM
SEAMUS FERNANDEZ
JOHN M EADE
CATHERINE J ARNOLD
ANDREW S ZAMFOTIS
STEPHEN A O'NEIL
CHRISTOPHER T SCHOTT
HERMAN SAFTLAS
RICHARD J PURKISS
KIM-LINH LINH VUKHAC
TOMAS MENCIK
VISHAL MANCHANDA
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
Recommendation
hold
outperform
buy/attractive
market perform
equalweight
outperform
buy
Equalwt/In-Line
sell
market perform
outperform
hold
market perform
buy
neutral
hold
neutral
neutral
hold
neutral
outperform
sell
underperform
Amt Held
144'783'672
112'479'503
73'252'027
66'590'765
46'209'277
33'583'523
29'992'601
25'314'216
24'565'607
20'114'226
19'219'015
18'223'853
15'355'097
14'090'289
13'555'466
13'547'101
13'262'500
13'012'238
12'602'907
11'241'133
% Out
8.84
6.87
4.47
4.07
2.82
2.05
1.83
1.55
1.5
1.23
1.17
1.11
0.94
0.86
0.83
0.83
0.81
0.79
0.77
0.69
Weighting
Change
3
5
5
3
3
5
5
3
1
3
5
3
3
5
3
3
3
3
3
3
5
1
1
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
D
M
M
M
M
M
M
M
Latest Chg
(974'777)
562'642
1'299'230
1'724'358
(40'039)
8'154'571
283'223
(3'184'929)
(843'092)
(1'247'990)
183'535
3'273'194
(3'765'862)
1'094'169
737'400
1'007'516
57'630
(1'973'260)
Target Price
#N/A N/A
#N/A N/A
44
38
33
#N/A N/A
41
35
26
34
#N/A N/A
36
#N/A N/A
44
38
#N/A N/A
#N/A N/A
38
38
33
38
32
26
File Dt
Inst Type
31.12.2012
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Government
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
9 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Date
22.03.2013
22.03.2013
21.03.2013
19.03.2013
18.03.2013
15.03.2013
14.03.2013
06.03.2013
06.03.2013
05.03.2013
05.03.2013
05.03.2013
27.02.2013
21.02.2013
31.01.2013
26.01.2013
25.01.2013
24.01.2013
24.01.2013
24.01.2013
24.01.2013
05.04.2012
31.01.2012
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (07.01.2013)
52-Week Low (04.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
COF UN EQUITY YTD Change
COF UN EQUITY YTD % CHANGE
12/2012
12/yy
62.92
48.00
213'294.00
55.17
-12.32%
14.94%
44.17%
582.2
32'122.66
49'910.00
0.0
0.0
11'058.00
70'974.66
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
7.0 M
60
6.0 M
50
5.0 M
40
4.0 M
30
3.0 M
20
2.0 M
10
1.0 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
70
31.12.2009
31.12.2010
15'950.0
19'067.0
1.87x
2.94x
9'335.0
11'715.0
3.19x
4.78x
884.0
2'743.0
16.31x
6.37x
Profitability
LTM-4Q
31.12.2011
18'525.0
2.87x
9'793.0
5.43x
3'147.0
6.02x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
23'177.0
3.13x
13'429.0
5.40x
3'517.0
9.28x
13'429.00
22.96%
21.72%
1.36%
9.94%
4.41%
0.09%
57.6%
15.2%
15.95%
123.24%
-
LTM
12/yy
18'525.0
11.33x
9'793.0
5.43x
3'147.0
6.00x
12/yy
23'177.0
10.15x
13'343.0
5.44x
3'517.0
10.33x
FY+1
0.36
1.26
577.16
8.06
-3.12%
-4.68%
1.259
34
4.441
799'109
1'423'534
1'291'198
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
22'296.7
22'600.8
5'583.2
5'563.5
3'812.3
3'908.3
973.4
962.2
8.49x
8.20x
8.61x
8.57x
S&P Issuer Ratings
17.06.2009
BBB
NEG
2.91
3.74
123.2%
55.2%
0.09
7.32
-
Sales/Revenue/Turnover
9.00
25'000.0
8.00
20'000.0
7.00
6.00
15'000.0
5.00
4.00
10'000.0
3.00
5'000.0
2.00
1.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
DODGE & COX
FMR LLC
BLACKROCK
VANGUARD GROUP INC
STATE STREET
BARROW HANLEY MEWHIN
VANGUARD GROUP INC
VIKING GLOBAL INVEST
CAPITAL GROUP COMPAN
T ROWE PRICE ASSOCIA
JP MORGAN
INSTITUTIONAL CAPITA
BANK OF NEW YORK MEL
HARRIS ASSOCIATES LP
NORTHERN TRUST CORPO
WADDELL & REED FINAN
ROBECO INVESTMENT MG
AMERIPRISE FINANCIAL
LORD ABBETT & CO LLC
PUTNAM INVESTMENT MA
Firm Name
Goldman Sachs
Portales Partners
Sanford C. Bernstein & Co
Oppenheimer & Co
Robert W. Baird & Co
William Blair & Co
FBR Capital Markets
RBC Capital Markets
Credit Suisse
JPMorgan
Janney Montgomery Scott LLC
Jefferies
Keefe, Bruyette & Woods
Stifel
Buckingham Research Group
Sterne, Agee & Leach
Evercore Partners
Nomura
Rafferty Capital Markets
Credit Agricole Securities (USA)
Telsey Advisory Group
Drexel Hamilton LLC
Edward Jones
Susquehanna Financial Group
S&P Capital IQ
Guggenheim Securities LLC
Barclays
Wells Fargo Securities, LLC
Morgan Stanley
EVA Dimensions
Argus Research Corp
Meredith Whitney Advisory Group
Portfolio Name
DODGE & COX
n/a
n/a
VANGUARD GROUP INC
n/a
BARROW HANLEY MEWHIN
Multiple Portfolios
VIKING GLOBAL INVEST
n/a
T ROWE PRICE ASSOCIA
n/a
INSTITUTIONAL CAPITA
BANK OF NEW YORK MEL
HARRIS ASSOC LP
NORTHERN TRUST CORPO
WADDELL & REED FINAN
ROBECO INVESTMENT MA
AMERIPRISE FINANCIAL
LORD ABBETT & CO LLC
PUTNAM INVESTMENT MA
Analyst
RYAN M. NASH
WILLIAM H RYAN
KEVIN ST PIERRE
CHRISTOPHER M KOTOWSKI
DAVID A GEORGE
ROBERT P NAPOLI
SCOTT VALENTIN
JASON ARNOLD
MOSHE A ORENBUCH
RICHARD SHANE JR
SAMEER GOKHALE
DANIEL FURTADO
SANJAY SAKHRANI
CHRISTOPHER C BRENDLER
DAVID HOCHSTIM
TODD L HAGERMAN
BRADLEY BALL
BILL CARCACHE
RICHARD X BOVE SR
CRAIG J MAURER
MICHAEL P TAIANO
DAVID B HILDER
JIM SHANAHAN
JAMES E FRIEDMAN
SONIA PARECHANIAN
DAVID W DARST
JASON M GOLDBERG
JOEL HOUCK
BETSY L GRASECK
AUSTIN BURKETT
DAVID RITTER
MEREDITH A WHITNEY
Source
13F
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
Recommendation
buy/attractive
sector perform
outperform
outperform
outperform
market perform
outperform
outperform
neutral
overweight
neutral
buy
outperform
buy
buy
neutral
overweight
neutral
buy
buy
no rating system
buy
buy
Positive
buy
neutral
overweight
outperform
Overwt/Attractive
overweight
hold
hold
Amt Held
48'554'603
35'086'243
32'180'834
24'775'376
23'535'602
20'624'985
15'415'265
13'668'594
11'815'098
11'019'492
9'797'743
9'350'499
8'305'575
8'040'323
7'550'047
6'291'144
6'094'557
6'021'078
5'935'613
5'034'320
% Out
8.34
6.03
5.53
4.26
4.04
3.54
2.65
2.35
2.03
1.89
1.68
1.61
1.43
1.38
1.3
1.08
1.05
1.03
1.02
0.86
Weighting
Change
5
3
5
5
5
3
5
5
3
5
3
5
5
5
5
3
5
3
5
5
#N/A N/A
5
5
4
5
3
5
5
5
5
3
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
Latest Chg
(1'542'400)
(851'720)
710'734
1'054'782
(134'860)
3'609'418
999'398
1'959'330
(3'012'386)
221'848
(424'293)
224'376
(19'998)
42'746
102'063
72'141
(824'229)
224'768
Target Price
65
#N/A N/A
64
68
65
#N/A N/A
63
67
60
58
58
60
65
65
68
60
63
56
62
68
64
70
#N/A N/A
69
68
57
68
#N/A N/A
70
#N/A N/A
#N/A N/A
#N/A N/A
File Dt
Inst Type
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
9 month
12 month
12 month
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Date
22.03.2013
21.03.2013
20.03.2013
19.03.2013
18.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
08.03.2013
07.03.2013
01.03.2013
19.02.2013
08.02.2013
04.02.2013
29.11.2012
18.10.2012
26.03.2013
Caterpillar Inc
Caterpillar Inc. designs, manufactures and markets construction, mining and
forestry machinery. The Company also manufactures engines and other related
parts for its equipment, and offers financing and insurance. Caterpillar
distributes its products through a worldwide organization of dealers.
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (19.04.2012)
52-Week Low (12.07.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.12.2012
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
CAT UN EQUITY YTD Change
CAT UN EQUITY YTD % CHANGE
Price/Volume
12/2012
12/yy
109.76
78.25
325'057.00
86.99
-20.75%
11.17%
26.63%
655.0
56'982.67
10'486.00
0.0
50.0
3'306.00
64'212.67
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
6.0 M
100
5.0 M
80
4.0 M
60
3.0 M
40
2.0 M
20
1.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
120
31.12.2009
31.12.2010
32'396.0
42'588.0
1.28x
1.50x
2'913.0
6'259.0
14.19x
10.20x
895.0
2'700.0
26.14x
21.83x
Profitability
LTM-4Q
31.12.2011
60'138.0
1.10x
9'680.0
6.86x
4'928.0
11.63x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
65'875.0
1.00x
11'966.0
5.51x
5'681.0
10.40x
11'966.00
9'153.00
13.89%
12.52%
6.65%
37.36%
11.44%
0.77%
27.4%
18.2%
13.9%
8.6%
1.43
0.82
44.92%
228.97%
3.57
3.18
LTM
12/yy
60'138.0
4.41x
9'680.0
6.86x
4'928.0
11.71x
12/yy
65'875.0
4.12x
11'966.0
5.51x
5'681.0
10.38x
FY+1
2.32
1.32
653.49
17.35
-18.20%
-2.89%
1.320
28
4.107
1'144'452
1'231'349
1'284'803
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
63'302.9
68'763.3
13'798.9
16'367.6
1.37x
1.13x
6.43x
5.38x
10'709.7
12'312.7
2'101.8
2'764.4
5.99x
5.21x
6.01x
5.61x
5'482.4
6'357.1
991.0
1'442.0
10.86x
9.27x
10.80x
9.96x
S&P Issuer Ratings
24.06.2003
A
STABLE
04.04.1995
A-1
25.62
14.75
0.60
0.88
229.0%
69.5%
0.77
4.27
102.52
115.08
55.86
161.73
Sales/Revenue/Turnover
16.00
70'000.0
14.00
60'000.0
12.00
50'000.0
10.00
40'000.0
8.00
30'000.0
6.00
20'000.0
4.00
10'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Caterpillar Inc
Holdings By:
All
Holder Name
STATE STREET
BLACKROCK
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
STATE FARM MUTUAL AU
STATE FARM MUTUAL AU
GATES FOUNDATION
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
FMR LLC
BANK OF AMERICA CORP
WADDELL & REED FINAN
GOLDMAN SACHS GROUP
NORGES BANK
JP MORGAN
PRIMECAP MANAGEMENT
MORGAN STANLEY
GEODE CAPITAL MANAGE
DEUTSCHE BANK AG
Firm Name
Susquehanna Financial Group
BMO Capital Markets
William Blair & Co
Longbow Research
Jefferies
RBC Capital Markets
Credit Suisse
JPMorgan
Northcoast Research
Credit Agricole Securities (USA)
ISI Group
Tigress Financial Partners
Edward Jones
Piper Jaffray
Raymond James
Wells Fargo Securities, LLC
Barclays
Atlantic Equities LLP
Argus Research Corp
Robert W. Baird & Co
Macquarie
S&P Capital IQ
Goldman Sachs
EVA Dimensions
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
STATE FARM MUTUAL AU
STATE FARM MUTUAL AU
BILL & MELINDA FOUND
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
n/a
BANK OF AMERICA
WADDELL & REED FINAN
GOLDMAN SACHS GROUP
NORGES BANK
n/a
PRIMECAP MANAGEMENT
n/a
GEODE CAPITAL MANAGE
DEUTSCHE BANK AKTIEN
Analyst
TED GRACE
JOEL G TISS
LAWRENCE T DE MARIA
ELI S LUSTGARTEN
STEPHEN VOLKMANN
SETH R WEBER
JAMIE L COOK
ANN DUIGNAN
BRIAN M RAYLE
ASHISH GUPTA
DAVID RASO
IVAN FEINSETH
MATT ARNOLD
ALEXANDER E POTTER
THEONI PILARINOS
ANDREW M CASEY
ANDY KAPLOWITZ
RICHARD RADBOURNE
WILLIAM V SELESKY
MIRCEA DOBRE
SAMEER RATHOD
MICHAEL JAFFE
JERRY REVICH
CRAIG STERLING
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
Sch-D
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
Recommendation
Positive
outperform
outperform
neutral
hold
sector perform
outperform
neutral
neutral
buy
strong buy
underperform
hold
overweight
outperform
market perform
overweight
overweight
buy
outperform
outperform
buy
Buy/Neutral
buy
Amt Held
71'309'382
43'263'971
32'836'678
22'878'150
22'068'318
19'707'800
13'605'624
10'260'857
9'788'015
9'312'413
7'179'234
6'004'419
5'923'800
5'204'841
5'183'052
4'899'901
4'610'728
4'559'582
4'302'834
3'701'077
% Out
10.89
6.6
5.01
3.49
3.37
3.01
2.08
1.57
1.49
1.42
1.1
0.92
0.9
0.79
0.79
0.75
0.7
0.7
0.66
0.57
Weighting
Change
4
5
5
3
3
3
5
3
3
5
5
1
3
5
5
3
5
5
5
5
5
5
5
5
M
M
M
M
M
M
M
M
M
M
M
N
M
M
U
M
M
M
M
M
M
M
M
M
Latest Chg
(1'562'459)
335'528
12'358'821
2'377
(405'144)
(139'073)
(572'787)
556'251
292'300
(390'036)
552'886
(538'358)
(507'100)
(253'929)
(398'594)
(12'500)
Target Price
109
130
115
#N/A N/A
95
104
123
100
#N/A N/A
115
119
#N/A N/A
#N/A N/A
113
105
#N/A N/A
118
115
126
110
112
117
116
#N/A N/A
File Dt
25.03.2013
22.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
30.09.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
9 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Insurance Company
Endowment
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
22.03.2013
22.03.2013
22.03.2013
21.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
18.03.2013
17.03.2013
11.03.2013
08.03.2013
04.03.2013
22.02.2013
20.02.2013
08.02.2013
01.02.2013
31.01.2013
29.01.2013
29.01.2013
28.01.2013
22.01.2013
15.01.2013
26.03.2013
Chevron Corp
Chevron Corporation is an integrated energy company with operations in countries
located around the world. The Company produces and transports crude oil and
natural gas. Chevron also refines, markets, and distributes fuels as well as
is involved in chemical operations, mining operations, power generation and
energy services.
Price/Volume
140
8.0 M
120
7.0 M
100
6.0 M
5.0 M
80
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (25.03.2013)
52-Week Low (04.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 11.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
CVX UN EQUITY YTD Change
CVX UN EQUITY YTD % CHANGE
12/2012
12/yy
121.56
95.74
315'965.00
120.9
-0.54%
26.28%
94.66%
1'942.7
234'872.17
12'192.00
0.0
1'308.0
21'205.00
227'167.17
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
3.0 M
40
2.0 M
20
1.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
4.0 M
60
31.12.2009
31.12.2010
159'293.0
189'607.0
0.99x
0.96x
26'432.0
38'438.0
5.94x
4.71x
10'483.0
19'024.0
13.53x
9.76x
Profitability
LTM-4Q
31.12.2011
236'286.0
0.87x
51'210.0
4.02x
26'895.0
7.92x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
222'580.0
0.91x
48'426.0
4.19x
26'179.0
8.94x
48'426.00
35'013.00
15.73%
20.82%
11.83%
20.30%
18.65%
1.01%
18.6%
21.8%
15.7%
11.8%
1.63
1.23
5.23%
8.93%
10.40
31.20
LTM
FY+1
2.90
1.09
1'942.12
17.84
15.92%
12.67%
1.087
29
4.241
1'623'441
1'682'132
1'736'176
FY+2
FQ+1
FQ+2
12/yy
12/yy
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
236'286.0 222'580.0 236'505.0 232'832.6
37'489.7
36'713.0
3.41x
3.70x
0.99x
1.03x
6.10x
6.26x
51'210.0
48'426.0
55'736.4
57'037.2
11'331.2
11'822.8
4.02x
4.19x
4.07x
3.98x
4.82x
4.48x
26'895.0
26'179.0
23'673.5
24'482.7
5'735.5
5'903.9
8.07x
8.92x
9.78x
9.68x
9.74x
9.77x
S&P Issuer Ratings
Long-Term Rating Date
01.07.1987
Long-Term Rating
AA
Long-Term Outlook
STABLE
Short-Term Rating Date
01.07.1987
Short-Term Rating
A-1+
Credit Ratios
EBITDA/Interest Exp.
200.11
(EBITDA-Capex)/Interest Exp.
72.26
Net Debt/EBITDA
-0.19
Total Debt/EBITDA
0.25
Reference
Total Debt/Equity
8.9%
Total Debt/Capital
8.1%
Asset Turnover
1.01
Net Fixed Asset Turnover
1.69
Accounts receivable turnover-days
35.18
Inventory Days
11.73
Accounts Payable Turnover Day
44.95
Cash Conversion Cycle
1.75
Sales/Revenue/Turnover
8.00
300'000.0
7.00
250'000.0
6.00
200'000.0
5.00
4.00
150'000.0
3.00
100'000.0
2.00
50'000.0
1.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Chevron Corp
Holdings By:
All
Holder Name
BLACKROCK
STATE STREET
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
FMR LLC
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
JP MORGAN
T ROWE PRICE ASSOCIA
FRANKLIN RESOURCES
BANK OF AMERICA CORP
NORGES BANK
STATE FARM MUTUAL AU
GEODE CAPITAL MANAGE
AMERIPRISE FINANCIAL
SUN LIFE FINANCIAL I
INVESCO LTD
TIAA CREF INVESTMENT
Firm Name
Raymond James
Cowen Securities LLC
Howard Weil Inc
Tudor Pickering & Co
Edward Jones
ISI Group
Societe Generale
Argus Research Corp
Independent Research GmbH
Morgan Stanley
Credit Suisse
JPMorgan
Macquarie
Canaccord Genuity Corp
Barclays
Jefferies
Oppenheimer & Co
VTB Capital
Simmons & Company International
S&P Capital IQ
EVA Dimensions
Goldman Sachs
Deutsche Bank
Phoenix Partners Group
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
WELLINGTON MANAGEMEN
n/a
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
n/a
T ROWE PRICE ASSOCIA
n/a
BANK OF AMERICA
NORGES BANK
STATE FARM MUTUAL AU
GEODE CAPITAL MANAGE
AMERIPRISE FINANCIAL
n/a
INVESCO LTD
TIAA-CREF INVESTMENT
Analyst
PAVEL MOLCHANOV
ASIT SEN
BLAKE FERNANDEZ
ROBERT KESSLER
BRIAN YOUNGBERG
DOUGLAS T TERRESON
JOHN HERRLIN
PHILIP H WEISS
SVEN DIERMEIER
J EVAN CALIO
EDWARD WESTLAKE
KATHERINE LUCAS MINYARD
JASON D GAMMEL
GORDON GRAY
PAUL Y CHENG
IAIN REID
FADEL GHEIT
COLIN SMITH
JEFFREY A DIETERT
MICHAEL KAY
CRAIG STERLING
ARJUN N MURTI
PAUL SANKEY
CHRIS KETTENMANN
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
Recommendation
outperform
buy
sector outperform
hold
buy
buy
hold
buy
hold
Overwt/Attractive
outperform
neutral
outperform
buy
overweight
buy
outperform
hold
overweight
strong buy
buy
neutral/attractive
buy
sell
Amt Held
120'184'057
106'697'609
94'551'138
80'759'338
60'948'303
36'837'320
35'044'572
30'460'395
30'377'532
24'102'252
23'715'705
18'756'936
16'772'113
16'404'385
16'281'400
12'946'149
12'743'283
12'095'417
11'831'726
10'424'281
% Out
6.19
5.49
4.87
4.16
3.14
1.9
1.8
1.57
1.56
1.24
1.22
0.97
0.86
0.84
0.84
0.67
0.66
0.62
0.61
0.54
Weighting
Change
5
5
5
3
5
5
3
5
3
5
5
3
5
5
5
5
5
3
5
5
5
3
5
1
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
Latest Chg
1'278'894
2'881'411
2'117'681
(1'546'231)
(297'928)
(7'149'791)
2'418'713
437'694
2'042'905
(1'202'262)
365'313
374'539
2'165'560
(1'271'647)
642'835
(35'876)
(544'810)
(754'835)
Target Price
122
133
140
124
#N/A N/A
130
126
135
127
130
130
121
148
136
133
125
130
120
#N/A N/A
135
#N/A N/A
125
140
83
File Dt
22.03.2013
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
9 month
12 month
12 month
Not Provided
12 month
18 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Government
Insurance Company
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
26.03.2013
25.03.2013
25.03.2013
22.03.2013
20.03.2013
15.03.2013
14.03.2013
14.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
12.03.2013
08.03.2013
01.03.2013
15.02.2013
01.02.2013
16.01.2013
13.12.2012
10.10.2012
24.07.2012
26.03.2013
Price/Volume
25
20
15
Valuation Analysis
10
07/2012
01/yy
21.98
14.97
2'102'008.00
20.75
-5.60%
38.66%
83.89%
5'332.0
110'638.46
16'328.00
0.0
15.0
48'716.00
80'563.46
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
50.0 M
45.0 M
40.0 M
35.0 M
30.0 M
25.0 M
20.0 M
15.0 M
10.0 M
5.0 M
.0 M
f-13 m-13
31.07.2009
31.07.2010
36'117.0
40'040.0
2.82x
2.64x
9'153.0
11'194.0
11.13x
9.46x
6'134.0
7'767.0
17.79x
16.96x
Profitability
LTM-4Q
31.07.2011
43'218.0
1.37x
10'959.0
5.39x
6'490.0
12.57x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.07.2012
46'061.0
1.10x
12'971.0
3.91x
8'041.0
10.12x
12'971.00
10'369.00
22.51%
22.06%
10.04%
17.79%
14.26%
0.51%
61.2%
28.3%
22.7%
17.5%
3.49
3.20
17.79%
31.84%
5.99
11.64
LTM
01/yy
44'844.0
6.16x
12'018.0
6.27x
6'998.0
13.77x
01/yy
47'252.0
5.76x
13'372.0
6.17x
9'317.0
13.06x
FY+1
2.12
0.99
5'322.18
61.50
1.91%
5.60%
0.989
49
4.245
8'847'501
9'486'852
9'196'968
FY+2
FQ+1
FQ+2
07/13 Y
07/14 Y
04/13 Q3 07/13 Q4
48'708.3
51'403.4
12'204.0
12'524.3
2.09x
1.74x
6.31x
6.00x
15'215.0
15'696.1
3'802.0
4'002.0
5.28x
5.12x
5.12x
5.02x
10'665.0
11'156.2
2'630.9
2'720.4
10.40x
9.84x
10.24x
10.07x
S&P Issuer Ratings
10.02.2006
A+
STABLE
31.01.2011
A-1+
21.76
19.87
-2.25
1.22
31.8%
24.1%
0.51
13.28
60.78
31.27
16.63
77.17
Sales/Revenue/Turnover
25.00
50'000.0
45'000.0
40'000.0
20.00
35'000.0
15.00
30'000.0
10.00
25'000.0
20'000.0
15'000.0
10'000.0
5.00
5'000.0
0.00
31.07.2009
0.0
31.01.2010
31.07.2010
31.01.2011
31.07.2011
31.01.2012
31.07.2012
31.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
WELLINGTON MANAGEMEN
VANGUARD GROUP INC
BANK OF NEW YORK MEL
JP MORGAN
INVESCO LTD
FMR LLC
FRANKLIN RESOURCES
NORTHERN TRUST CORPO
GRANTHAM MAYO VAN OT
T ROWE PRICE ASSOCIA
YACKTMAN ASSET MANAG
LAZARD ASSET MANAGEM
FIRST EAGLE INVESTME
NORGES BANK
TIAA CREF INVESTMENT
AMERIPRISE FINANCIAL
DEUTSCHE BANK AG
Firm Name
Jefferies
Raymond James
FBR Capital Markets
Stifel
Topeka Capital Markets Inc
Edward Jones
Pacific Crest Securities
RBC Capital Markets
Nomura
Mizuho Securities USA Inc
S&P Capital IQ
Daiwa Securities Co. Ltd.
William Blair & Co
Berenberg Bank
Janney Montgomery Scott LLC
Argus Research Corp
ISI Group
BMO Capital Markets
Sterne, Agee & Leach
Oppenheimer & Co
Morgan Stanley
JPMorgan
Needham & Co
Robert W. Baird & Co
Wedbush
Independent Research GmbH
Davenport & Co
Wunderlich Securities
Wells Fargo Securities, LLC
JMP Securities
Lazard Capital Markets
Piper Jaffray
MKM Partners
Northland Securities Inc
Barclays
FBN Securities
Evercore Partners
Deutsche Bank
Wedge Partners
EVA Dimensions
Goldman Sachs
Tigress Financial Partners
BGC Partners
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
WELLINGTON MANAGEMEN
Multiple Portfolios
BANK OF NEW YORK MEL
n/a
INVESCO LTD
n/a
n/a
NORTHERN TRUST CORPO
GRANTHAM MAYO VAN OT
T ROWE PRICE ASSOCIA
YACKTMAN ASSET MANAG
n/a
FIRST EAGLE INVESTME
NORGES BANK
TIAA-CREF INVESTMENT
AMERIPRISE FINANCIAL
DEUTSCHE BANK AKTIEN
Analyst
GEORGE C NOTTER
SIMON M LEOPOLD
SCOTT S THOMPSON
SANJIV R WADHWANI
BRIAN J WHITE
WILLIAM C KREHER
BRENT A BRACELIN
MARK SUE
STUART JEFFREY
JOANNA MAKRIS
JAMES G MOORMAN
YOKO YAMADA
JASON NOAH ADER
ADNAAN AHMAD
WILLIAM CHOI
JAMES KELLEHER
BRIAN MARSHALL
TIMOTHY P LONG
ALEX KURTZ
ITTAI KIDRON
EHUD A GELBLUM
ROD HALL
ALEXANDER HENDERSON
JAYSON NOLAND SR
ROHIT CHOPRA
MARKUS FRIEBEL
F DRAKE JOHNSTONE
MATTHEW S ROBISON
JESS L LUBERT
ERIK SUPPIGER
RYAN HUTCHINSON
TROY D JENSEN
MICHAEL GENOVESE
CATHARINE TREBNICK
BENJAMIN A REITZES
SHEBLY SEYRAFI
MARK A MCKECHNIE
BRIAN T MODOFF
CHRISTOPHER J CRESPI
ANDREW S ZAMFOTIS
SIMONA JANKOWSKI
IVAN FEINSETH
COLIN W GILLIS
Source
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
Recommendation
hold
outperform
underperform
buy
buy
hold
outperform
outperform
buy
buy
buy
outperform
outperform
sell
neutral
buy
cautious
outperform
buy
outperform
Overwt/Attractive
underweight
hold
outperform
outperform
hold
buy
buy
outperform
market perform
neutral
overweight
buy
outperform
overweight
outperform
equalweight
buy
no rating system
buy
Buy/Neutral
neutral
buy
Amt Held
276'768'876
232'564'275
225'135'431
183'794'312
144'509'645
112'982'877
98'235'021
96'443'571
86'751'700
82'170'687
77'496'020
70'428'507
69'820'447
52'443'161
47'768'835
46'147'106
43'095'418
42'368'958
40'386'595
37'520'775
% Out
5.19
4.36
4.22
3.45
2.71
2.12
1.84
1.81
1.63
1.54
1.45
1.32
1.31
0.98
0.9
0.87
0.81
0.79
0.76
0.7
Weighting
Change
3
5
1
5
5
3
5
5
5
5
5
5
5
1
3
5
2
5
5
5
5
1
3
5
5
3
5
5
5
3
3
5
5
5
5
5
3
5
#N/A N/A
5
5
3
5
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
N
M
Latest Chg
(27'443'381)
(1'696'027)
(6'694'074)
65'261'717
4'376'292
12'991'203
(10'116'927)
19'583'032
(271'698)
2'085'888
6'196'339
(4'001'080)
(52'225)
(1'195'030)
(540'834)
4'202'738
3'103'045
7'990'890
6'191'620
Target Price
22
25
17
25
26
#N/A N/A
25
24
25
25
26
24
#N/A N/A
14
20
26
#N/A N/A
25
26
24
24
18
#N/A N/A
25
24
24
24
24
#N/A N/A
#N/A N/A
#N/A N/A
25
25
26
24
25
23
24
#N/A N/A
#N/A N/A
25
#N/A N/A
21
File Dt
Inst Type
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
28.02.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
28.02.2013
Unclassified
31.12.2012 Hedge Fund Manager
31.12.2012
Government
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
9 month
Not Provided
12 month
12 month
12 month
12 month
18 month
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Date
26.03.2013
25.03.2013
21.03.2013
21.03.2013
21.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
13.03.2013
08.03.2013
06.03.2013
05.03.2013
05.03.2013
04.03.2013
01.03.2013
01.03.2013
27.02.2013
25.02.2013
25.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
13.02.2013
04.02.2013
18.01.2013
15.01.2013
09.12.2012
03.12.2012
16.08.2012
26.03.2013
Citigroup Inc
Citigroup Inc. is a diversified financial services holding company that provides
a broad range of financial services to consumer and corporate customers around
the world. The Company's services include investment banking, retail brokerage,
corporate banking, and cash management products and services.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (11.03.2013)
52-Week Low (04.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
C UN EQUITY YTD Change
C UN EQUITY YTD % CHANGE
12/2012
12/yy
47.91
24.61
2'794'283.00
44.63
-6.85%
81.35%
85.32%
3'038.8
135'619.80
623'537.00
2'562.0
1'948.0
36'453.00
727'213.80
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
25.0 M
20.0 M
15.0 M
10.0 M
5.0 M
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
50
45
40
35
30
25
20
15
10
5
0
m-12
31.12.2009
31.12.2010
108'006.0
111'697.0
7.34x
7.58x
61'666.0
66'021.0
12.86x
12.82x
(1'606.0)
10'602.0
13.32x
Profitability
LTM-4Q
31.12.2011
102'587.0
6.95x
53'554.0
13.31x
11'067.0
5.65x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
90'708.0
7.84x
41'810.0
17.02x
7'541.0
8.19x
41'810.00
11.31%
8.75%
0.40%
4.13%
0.94%
0.05%
45.8%
8.3%
33.44%
334.36%
-
LTM
12/yy
102'587.0
32.05x
53'829.0
13.25x
11'067.0
5.07x
12/yy
90'853.0
33.09x
41'647.0
17.08x
7'541.0
9.96x
FY+1
0.09
1.77
2'919.71
35.28
19.38%
12.84%
1.765
37
4.270
6'243'292
6'652'080
6'373'754
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
78'926.2
81'178.6
20'199.4
19'622.8
14'032.6
15'906.7
3'496.6
3'339.4
9.62x
8.40x
9.66x
9.30x
S&P Issuer Ratings
29.11.2011
ANEG
29.11.2011
A-2
14.10
14.97
334.4%
76.6%
0.05
-
Sales/Revenue/Turnover
120.00
180'000.0
160'000.0
100.00
140'000.0
120'000.0
80.00
100'000.0
60.00
80'000.0
60'000.0
40.00
40'000.0
20.00
0.00
01.01.2010
20'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Citigroup Inc
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
GOVT OF SINGAPORE IN
CAPITAL GROUP COMPAN
FMR LLC
VANGUARD GROUP INC
JP MORGAN
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
INVESCO LTD
NORTHERN TRUST CORPO
FRANKLIN RESOURCES
AMERIPRISE FINANCIAL
NORGES BANK
ALLIANCE BERNSTEIN
TIAA CREF INVESTMENT
OPPENHEIMERFUNDS INC
UBS
BARROW HANLEY MEWHIN
Firm Name
Goldman Sachs
Sanford C. Bernstein & Co
JMP Securities
Buckingham Research Group
ISI Group
Portales Partners
Deutsche Bank
Keefe, Bruyette & Woods
Rafferty Capital Markets
S&P Capital IQ
Raymond James
Wells Fargo Securities, LLC
Edward Jones
Evercore Partners
Drexel Hamilton LLC
SunTrust Robinson Humphrey
Scotia Capital
Credit Suisse
JPMorgan
Atlantic Equities LLP
Credit Agricole Securities (USA)
Barclays
Guggenheim Securities LLC
RBC Capital Markets
Sterne, Agee & Leach
Oppenheimer & Co
Daiwa Securities Co. Ltd.
Argus Research Corp
Sandler O'Neill & Partners, LP
Morgan Stanley
Nomura
EVA Dimensions
HSBC
Meredith Whitney Advisory Group
Phillip Securities
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
INVESCO LTD
NORTHERN TRUST CORPO
n/a
AMERIPRISE FINANCIAL
NORGES BANK
n/a
TIAA-CREF INVESTMENT
OPPENHEIMER FUNDS IN
n/a
BARROW HANLEY MEWHIN
Analyst
RICHARD N RAMSDEN
JOHN E MCDONALD
DAVID M TRONE
JAMES F MITCHELL
Ed Najarian
CHARLES W PEABODY
MATTHEW D O'CONNOR
FREDERICK CANNON
RICHARD X BOVE SR
ERIK M OJA
ANTHONY J POLINI
MATTHEW H BURNELL
TOM LEWANDOWSKI
ANDREW A MARQUARDT
DAVID B HILDER
ERIC WASSERSTROM
KEVIN R CHOQUETTE
MOSHE A ORENBUCH
VIVEK JUNEJA
RICHARD STAITE
MICHAEL L MAYO
JASON M GOLDBERG
MARTY L MOSBY III
GERARD S CASSIDY
TODD L HAGERMAN
CHRISTOPHER M KOTOWSKI
KAZUKI WATANABE
DAVID RITTER
JEFFERY HARTE
BETSY L GRASECK
GLENN P SCHORR
AUSTIN BURKETT
ROBERT MURPHY
MEREDITH A WHITNEY
MAGDALENE CHOONG
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
Recommendation
buy/attractive
outperform
market perform
buy
buy
underperform
buy
outperform
buy
buy
strong buy
outperform
buy
equalweight
buy
buy
focus stock
outperform
neutral
overweight
buy
overweight
buy
outperform
buy
outperform
underperform
sell
buy
Overwt/Attractive
buy
hold
underweight
hold
hold
Amt Held
166'395'164
125'758'538
120'364'801
112'095'403
96'681'349
92'961'172
77'791'586
59'434'946
48'819'333
38'375'309
37'941'648
36'731'980
34'897'440
26'897'918
25'563'949
23'234'562
21'631'059
20'120'093
20'090'187
19'528'829
% Out
5.48
4.14
3.96
3.69
3.18
3.06
2.56
1.96
1.61
1.26
1.25
1.21
1.15
0.89
0.84
0.76
0.71
0.66
0.66
0.64
Weighting
Change
5
5
3
5
5
1
5
5
5
5
5
5
5
3
5
5
5
5
3
5
5
5
5
5
5
5
1
1
5
5
5
3
1
3
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
D
Latest Chg
165'155
3'130'241
4'195'229
(28'656'170)
10'998'079
9'976'674
10'321'269
6'582'043
538'406
506'791
(1'040'493)
14'651'933
(2'769'898)
(3'634'428)
1'677'535
5'652'735
(335'105)
57'528
Target Price
56
53
#N/A N/A
57
53
#N/A N/A
53
55
52
52
52
#N/A N/A
#N/A N/A
43
51
53
60
50
45
54
60
46
57
48
48
50
38
#N/A N/A
49
51
45
#N/A N/A
36
#N/A N/A
#N/A N/A
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2009
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
28.02.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
Date
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
9 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
18 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Date
24.03.2013
22.03.2013
22.03.2013
21.03.2013
21.03.2013
20.03.2013
19.03.2013
19.03.2013
19.03.2013
19.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
06.03.2013
06.03.2013
06.03.2013
05.03.2013
01.03.2013
20.02.2013
19.02.2013
18.02.2013
12.02.2013
08.02.2013
01.02.2013
18.01.2013
17.01.2013
17.01.2013
15.01.2013
01.11.2012
16.10.2012
19.10.2011
26.03.2013
Coca-Cola Co/The
The Coca-Cola Company manufactures, markets, and distributes soft drink
concentrates and syrups. The Company also distributes and markets juice and
juice-drink products. Coca-Cola distributes its products to retailers and
wholesalers in the United States and internationally.
Price/Volume
45
70.0 M
40
60.0 M
35
50.0 M
30
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (31.07.2012)
52-Week Low (31.12.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 25.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
KO UN EQUITY YTD Change
KO UN EQUITY YTD % CHANGE
12/2012
12/yy
40.66
35.58
1'828'561.00
40.51
-0.37%
13.86%
89.37%
4'456.7
180'541.64
32'610.00
0.0
378.0
16'551.00
196'978.64
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
40.0 M
20
30.0 M
15
20.0 M
10
10.0 M
5
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
25
31.12.2009
31.12.2010
30'990.0
35'119.0
4.34x
4.65x
9'467.0
9'892.0
14.20x
16.49x
6'824.0
11'809.0
18.63x
18.85x
Profitability
LTM-4Q
31.12.2011
46'542.0
3.72x
12'127.0
14.28x
8'584.0
18.22x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
48'017.0
3.72x
12'761.0
13.98x
9'019.0
18.03x
12'761.00
10'779.00
22.45%
24.59%
10.86%
27.87%
14.88%
0.58%
60.3%
26.6%
22.4%
18.8%
1.09
0.77
37.84%
99.45%
9.92
6.00
LTM
12/yy
46'542.0
14.52x
12'123.0
14.28x
8'581.0
18.27x
12/yy
48'017.0
15.38x
12'761.0
13.98x
9'019.0
18.13x
FY+1
2.52
0.70
4'018.71
30.52
15.83%
12.56%
0.703
27
4.111
4'706'156
4'350'879
4'136'143
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
49'006.3
51'307.8
11'028.9
13'335.5
4.04x
3.81x
18.17x
14.96x
14'105.8
15'102.6
3'233.3
4'144.1
13.96x
13.04x
13.89x
13.99x
9'641.0
10'338.8
2'026.7
2'933.7
18.90x
17.37x
18.95x
18.69x
S&P Issuer Ratings
13.09.2012
AASTABLE
13.09.2012
A-1+
32.06
25.08
1.26
2.56
99.5%
49.6%
0.58
3.26
36.89
61.05
39.42
58.52
Sales/Revenue/Turnover
20.00
60'000.0
18.00
50'000.0
16.00
14.00
40'000.0
12.00
30'000.0
10.00
8.00
20'000.0
6.00
4.00
10'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Coca-Cola Co/The
Holdings By:
All
Holder Name
BERKSHIRE HATHAWAY I
BLACKROCK
VANGUARD GROUP INC
STATE STREET
FMR LLC
VANGUARD GROUP INC
NORTHERN TRUST CORPO
CAPITAL GROUP COMPAN
BANK OF NEW YORK MEL
JP MORGAN
GRANTHAM MAYO VAN OT
NORGES BANK
BANK OF AMERICA CORP
GATES FOUNDATION
FAYEZ SAROFIM
SUNTRUST BANKS INC
TIAA CREF INVESTMENT
GEODE CAPITAL MANAGE
UBS
DEUTSCHE BANK AG
Firm Name
Sanford C. Bernstein & Co
Edward Jones
Stifel
Argus Research Corp
Credit Agricole Securities (USA)
Wells Fargo Securities, LLC
Davenport & Co
HSBC
Tigress Financial Partners
Daiwa Securities Co. Ltd.
Morgan Stanley
JPMorgan
Independent Research GmbH
Buckingham Research Group
Gabelli & Co
Barclays
S&P Capital IQ
EVA Dimensions
Goldman Sachs
Deutsche Bank
Hamburger Sparkasse
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
NORTHERN TRUST CORPO
n/a
BANK OF NEW YORK MEL
n/a
GRANTHAM MAYO VAN OT
NORGES BANK
BANK OF AMERICA
BILL & MELINDA FOUND
FAYEZ SAROFIM
n/a
TIAA-CREF INVESTMENT
GEODE CAPITAL MANAGE
n/a
DEUTSCHE BANK AKTIEN
Analyst
ALI DIBADJ
JACK P RUSSO
MARK D SWARTZBERG
JOHN D STASZAK
CAROLINE S LEVY
BONNIE HERZOG
ANN H GURKIN
LAUREN E TORRES
IVAN FEINSETH
TORU SUGIURA
DARA MOHSENIAN
JOHN A FAUCHER
LARS LUSEBRINK
ALICE BEEBE LONGLEY
DAMIAN WITKOWSKI
MICHAEL J BRANCA
ESTHER KWON
AUSTIN BURKETT
JUDY E HONG
WILLIAM G SCHMITZ
TINA HECKING-VELTMAN
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
Recommendation
outperform
buy
hold
hold
outperform
outperform
buy
overweight
neutral
neutral
Equalwt/In-Line
neutral
hold
buy
buy
overweight
strong buy
hold
neutral/neutral
buy
hold
Amt Held
400'000'000
218'615'030
198'616'069
172'446'080
166'523'204
132'950'987
76'608'964
76'528'590
57'228'169
47'803'813
38'761'718
35'967'061
34'645'733
34'002'000
33'439'754
29'923'359
28'196'392
25'555'429
25'510'804
25'003'368
% Out
8.98
4.91
4.46
3.87
3.74
2.98
1.72
1.72
1.28
1.07
0.87
0.81
0.78
0.76
0.75
0.67
0.63
0.57
0.57
0.56
Weighting
Change
5
5
3
3
5
5
5
5
3
3
3
3
3
5
5
5
5
3
3
5
3
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
4'572'631
4'313'355
1'086'635
210'275
8'935'538
(254'538)
8'838'731
(1'563'107)
1'678'534
2'301'577
(2'970'705)
10'638'000
(9'040'358)
(14'210'334)
(950'662)
(2'600'433)
2'260'788
(5'664'077)
Target Price
43
#N/A N/A
#N/A N/A
#N/A N/A
43
#N/A N/A
42
44
#N/A N/A
39
#N/A N/A
43
42
43
#N/A N/A
41
43
#N/A N/A
41
42
#N/A N/A
File Dt
30.12.2012
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
Date
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
9 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Government
Investment Advisor
Endowment
Investment Advisor
Bank
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Date
22.03.2013
21.03.2013
21.03.2013
19.03.2013
19.03.2013
13.03.2013
27.02.2013
25.02.2013
25.02.2013
21.02.2013
13.02.2013
13.02.2013
13.02.2013
13.02.2013
13.02.2013
13.02.2013
12.02.2013
15.01.2013
11.01.2013
17.10.2012
10.05.2012
26.03.2013
Colgate-Palmolive Co
Colgate-Palmolive Company is a consumer products company that markets its
products throughout the world. The Company's products include toothpaste,
toothbrushes, shampoos, deodorants, bar and liquid soaps, dishwashing liquid,
and laundry products, as well as pet nutrition products for cats and dogs.
Price/Volume
140
4.0 M
120
3.5 M
100
3.0 M
2.5 M
80
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (29.03.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
CL UN EQUITY YTD Change
CL UN EQUITY YTD % CHANGE
12/2012
12/yy
116.88
95.53
174'140.00
116.8
-0.07%
22.27%
89.99%
468.0
54'658.86
5'230.00
0.0
201.0
884.00
59'205.86
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
1.5 M
40
1.0 M
20
.5 M
0
m-12
31.12.2009
31.12.2010
15'327.0
15'564.0
2.84x
2.75x
3'966.0
3'865.0
10.97x
11.09x
2'291.0
2'203.0
18.80x
16.61x
Profitability
LTM-4Q
31.12.2011
16'734.0
2.89x
4'262.0
11.36x
2'431.0
18.37x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
17'085.0
3.13x
4'314.0
12.39x
2'472.0
19.49x
4'314.00
3'889.00
22.76%
22.67%
18.93%
108.33%
1.31%
58.1%
25.3%
22.8%
14.5%
1.22
0.68
39.05%
238.92%
10.22
5.31
j-12
j-12
LTM
12/yy
16'734.0
11.06x
4'262.0
11.36x
2'431.0
18.37x
a-12
12/yy
17'085.0
12.49x
4'319.0
12.37x
2'472.0
19.60x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
2.09
0.63
464.92
5.80
23.53%
12.37%
0.627
29
3.276
517'705
607'680
550'765
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
17'751.6
18'762.3
4'298.3
4'429.1
3.35x
3.19x
13.75x
13.35x
4'592.4
5'004.7
1'088.3
1'153.0
12.88x
11.82x
12.74x
12.57x
2'676.2
2'917.4
625.2
664.2
20.38x
18.41x
20.39x
19.96x
S&P Issuer Ratings
04.05.2001
AASTABLE
04.05.2001
A-1+
52.61
45.72
1.01
1.21
238.9%
68.6%
1.31
4.55
35.81
68.87
64.49
40.19
Sales/Revenue/Turnover
20.00
18'000.0
18.00
16'000.0
16.00
14'000.0
14.00
12'000.0
12.00
10'000.0
10.00
8'000.0
8.00
6'000.0
6.00
4'000.0
4.00
2'000.0
2.00
0.00
01.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
2.0 M
60
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Colgate-Palmolive Co
Holdings By:
All
Holder Name
STATE STREET
VANGUARD GROUP INC
FMR LLC
BLACKROCK
VANGUARD GROUP INC
BANK OF NEW YORK MEL
SUN LIFE FINANCIAL I
GRANTHAM MAYO VAN OT
NORTHERN TRUST CORPO
CAPITAL GROUP COMPAN
UBS
JP MORGAN
OPPENHEIMERFUNDS INC
STATE FARM MUTUAL AU
MONTAG & CALDWELL IN
BANK OF AMERICA CORP
T ROWE PRICE ASSOCIA
NORGES BANK
SUNTRUST BANKS INC
MORGAN STANLEY
Firm Name
SunTrust Robinson Humphrey
B Riley & Company, Inc
Sanford C. Bernstein & Co
Stifel
Morgan Stanley
Wells Fargo Securities, LLC
RBC Capital Markets
William Blair & Co
Buckingham Research Group
Canaccord Genuity Corp
Edward Jones
BMO Capital Markets
EVA Dimensions
Tigress Financial Partners
Barclays
Credit Suisse
JPMorgan
Oppenheimer & Co
S&P Capital IQ
Credit Agricole Securities (USA)
Goldman Sachs
Janney Montgomery Scott LLC
Argus Research Corp
Daiwa Securities Co. Ltd.
Atlantic Equities LLP
Deutsche Bank
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
n/a
GRANTHAM MAYO VAN OT
NORTHERN TRUST CORPO
n/a
n/a
n/a
OPPENHEIMER FUNDS IN
STATE FARM MUTUAL AU
MONTAG & CALDWELL IN
BANK OF AMERICA
T ROWE PRICE ASSOCIA
NORGES BANK
n/a
n/a
Analyst
WILLIAM CHAPPELL
LINDA BOLTON WEISER
ALI DIBADJ
MARK S ASTRACHAN
DARA MOHSENIAN
TIMOTHY A CONDER
JASON M GERE
JON R ANDERSEN
ALICE BEEBE LONGLEY
EDDY HARGREAVES
JACK P RUSSO
CONSTANCE M MANEATY
AUSTIN BURKETT
IVAN FEINSETH
LAUREN R LIEBERMAN
MICHAEL STEIB
JOHN A FAUCHER
JOSEPH ALTOBELLO
IAN GORDON
CAROLINE S LEVY
JASON ENGLISH
JOHN SAN MARCO
JOHN D STASZAK
TORU SUGIURA
VICTORIA COLLIN
WILLIAM G SCHMITZ
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
13F
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
Recommendation
neutral
neutral
market perform
hold
Equalwt/In-Line
market perform
sector perform
market perform
buy
sell
hold
market perform
hold
neutral
underweight
outperform
neutral
market perform
hold
outperform
neutral/neutral
buy
buy
outperform
neutral
hold
Amt Held
35'483'331
24'879'457
24'356'253
23'087'076
17'437'792
12'217'559
9'256'826
7'018'424
6'379'505
6'232'525
5'116'414
5'018'292
4'365'670
4'225'500
3'998'025
3'819'518
3'813'050
3'808'948
3'658'362
3'440'368
% Out
7.58
5.32
5.2
4.93
3.73
2.61
1.98
1.5
1.36
1.33
1.09
1.07
0.93
0.9
0.85
0.82
0.81
0.81
0.78
0.74
Weighting
Change
3
3
3
3
3
3
3
3
5
1
3
3
3
3
1
5
3
3
3
5
3
5
5
5
3
3
M
M
M
M
D
M
M
M
M
M
M
M
U
N
M
M
M
M
M
M
M
M
M
M
M
D
Latest Chg
(354'405)
477'557
(1'327'263)
91'991
198'469
498'305
(649'777)
(40'655)
(2'050)
(435'184)
(234'511)
6'190
130'700
346'056
(33'737)
1'818'470
251'195
(28'181)
164'815
Target Price
110
108
115
#N/A N/A
#N/A N/A
#N/A N/A
114
#N/A N/A
131
102
#N/A N/A
109
#N/A N/A
#N/A N/A
103
126
114
#N/A N/A
115
118
116
121
126
115
104
110
File Dt
25.03.2013
31.12.2012
31.12.2012
22.03.2013
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
9 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Unclassified
Investment Advisor
Insurance Company
Investment Advisor
Investment Advisor
Investment Advisor
Government
Bank
Investment Advisor
Date
26.03.2013
26.03.2013
22.03.2013
21.03.2013
15.03.2013
15.03.2013
11.03.2013
08.03.2013
08.03.2013
05.03.2013
27.02.2013
25.02.2013
25.02.2013
25.02.2013
15.02.2013
12.02.2013
11.02.2013
11.02.2013
11.02.2013
11.02.2013
10.02.2013
08.02.2013
05.02.2013
05.02.2013
25.10.2012
27.07.2012
26.03.2013
Comcast Corp
Comcast Corporation is a global media and technology company with two primary
businesses. The Company provides video, high-speed Internet and phone services
to residential and business customers. Comcast also operates news and
entertainment cable networks, a national and a Spanish broadcast network, TV
production operations, TV station groups, film studios, theme parks and resorts.
Price/Volume
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
12.0 M
10.0 M
30
12/2012
12/yy
42.00
28.10
1'457'297.00
41.56
-1.05%
47.90%
97.95%
2'122.3
108'404.07
40'458.00
0.0
17'438.0
12'415.00
153'885.07
25
8.0 M
20
6.0 M
15
4.0 M
10
2.0 M
5
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
14.0 M
40
35
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (13.02.2013)
52-Week Low (21.05.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.12.2012
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
CMCSA UW EQUITY YTD Change
CMCSA UW EQUITY YTD % CHANGE
45
31.12.2009
31.12.2010
35'756.0
37'937.0
2.14x
2.28x
13'714.0
14'596.0
5.58x
5.93x
3'638.0
3'635.0
15.19x
16.77x
Profitability
LTM-4Q
31.12.2011
55'842.0
2.12x
18'357.0
6.44x
4'160.0
15.01x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
62'570.0
2.30x
19'977.0
7.21x
6'203.0
19.46x
19'977.00
12'179.00
19.46%
18.55%
3.84%
12.84%
9.11%
0.39%
68.1%
31.9%
19.5%
9.9%
1.20
1.07
24.52%
81.97%
12.68
-
LTM
12/yy
55'842.0
8.52x
18'357.0
6.44x
4'160.0
15.01x
12/yy
62'570.0
8.83x
19'977.0
7.21x
6'203.0
19.36x
FY+1
1.56
1.07
2'120.37
30.95
39.63%
11.18%
1.073
32
4.563
4'083'910
4'155'336
3'837'537
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
64'234.9
68'029.0
15'441.5
15'990.0
2.62x
2.44x
11.23x
10.78x
20'933.0
22'280.9
5'021.5
5'330.9
7.36x
6.91x
7.33x
7.16x
6'388.8
7'180.1
1'370.2
1'629.2
17.38x
15.20x
17.57x
16.79x
S&P Issuer Ratings
14.02.2013
APOS
25.05.2004
A-2
7.92
5.66
1.40
2.03
82.0%
37.7%
0.39
2.28
28.87
59.15
-
Sales/Revenue/Turnover
8.00
70'000.0
7.00
60'000.0
6.00
50'000.0
5.00
40'000.0
4.00
30'000.0
3.00
20'000.0
2.00
10'000.0
1.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Comcast Corp
Holdings By:
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
FMR LLC
VANGUARD GROUP INC
STATE STREET
DODGE & COX
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
INVESCO LTD
JP MORGAN
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
TIAA CREF INVESTMENT
T ROWE PRICE ASSOCIA
BROWN BROTHERS HARRI
NORGES BANK
AMERIPRISE FINANCIAL
DIMENSIONAL FUND ADV
ALLIANCE BERNSTEIN
GEODE CAPITAL MANAGE
Firm Name
JPMorgan
Goldman Sachs
Edward Jones
Pivotal Research Group LLC
Wells Fargo Securities, LLC
Macquarie
Morgan Stanley
Argus Research Corp
Credit Suisse
Oppenheimer & Co
Atlantic Equities LLP
Evercore Partners
RBC Capital Markets
Brean Murray Carret & Co
Raymond James
Wunderlich Securities
Guggenheim Securities LLC
Telsey Advisory Group
Deutsche Bank
Janney Montgomery Scott LLC
Jefferies
Pacific Crest Securities
Stifel
Scotia Capital
Nomura
S&P Capital IQ
Maxim Group LLC
New Street Research
ISI Group
EVA Dimensions
BTIG LLC
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
n/a
DODGE & COX
Multiple Portfolios
WELLINGTON MANAGEMEN
INVESCO LTD
n/a
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
TIAA-CREF INVESTMENT
T ROWE PRICE ASSOCIA
BROWN BROTHERS HARRI
NORGES BANK
AMERIPRISE FINANCIAL
DIMENSIONAL FUND ADV
n/a
GEODE CAPITAL MANAGE
Analyst
PHILIP CUSICK
JASON ARMSTRONG
DAVID HEGER
JEFFREY WLODARCZAK
MARCI RYVICKER
AMY YONG
BENJAMIN SWINBURNE
JOSEPH F BONNER
MICHAEL SENNO
TIMOTHY K HORAN
CHRISTOPHER WATTS
BRYAN KRAFT
JONATHAN ATKIN
TODD MITCHELL
FRANK G LOUTHAN
MATTHEW HARRIGAN
SHING YIN
JAISON BLAIR
DOUGLAS D MITCHELSON
TONY WIBLE
THOMAS O SEITZ
ANDY HARGREAVES
CHRISTOPHER C KING
JEFFREY FAN
MICHAEL L MCCORMACK
TUNA AMOBI
JOHN TINKER
CHARLES GAYNOR
VIJAY JAYANT
CRAIG STERLING
RICHARD GREENFIELD
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
Recommendation
overweight
buy/attractive
buy
buy
outperform
neutral
Equalwt/In-Line
hold
outperform
outperform
overweight
overweight
outperform
buy
outperform
buy
neutral
no rating system
buy
buy
buy
sector perform
buy
sector outperform
buy
buy
buy
neutral
buy
hold
neutral
Amt Held
170'286'499
152'232'792
122'446'969
108'349'162
98'373'145
72'420'757
66'340'464
63'251'006
52'985'837
39'427'371
33'384'322
30'125'878
26'200'994
24'679'889
23'978'448
22'993'590
22'281'474
19'975'360
18'685'369
17'865'247
% Out
8.02
7.17
5.77
5.11
4.64
3.41
3.13
2.98
2.5
1.86
1.57
1.42
1.23
1.16
1.13
1.08
1.05
0.94
0.88
0.84
Weighting
Change
5
5
5
5
5
3
3
3
5
5
5
5
5
5
5
5
3
#N/A N/A
5
5
5
3
5
5
5
5
5
3
5
3
3
M
M
M
M
M
D
M
M
M
M
M
M
U
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
Latest Chg
(15'203'842)
(136'836)
4'965'013
2'257'020
1'988'377
(11'233'339)
(2'617'597)
(6'273'501)
6'577'191
6'326
(1'342'104)
1'422'866
(1'113'877)
710'946
1'226'195
3'494'798
36'016
1'272'776
(1'760'635)
Target Price
49
47
#N/A N/A
48
#N/A N/A
45
42
#N/A N/A
48
45
48
46
46
48
44
47
40
47
48
48
45
#N/A N/A
45
46
48
46
48
40
47
#N/A N/A
#N/A N/A
File Dt
31.12.2012
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
18 month
12 month
12 month
12 month
12 month
12 month
18 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
25.03.2013
24.03.2013
12.03.2013
06.03.2013
04.03.2013
22.02.2013
19.02.2013
19.02.2013
19.02.2013
19.02.2013
19.02.2013
15.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
13.02.2013
13.02.2013
13.02.2013
13.02.2013
13.02.2013
13.02.2013
13.02.2013
13.02.2013
13.02.2013
13.02.2013
12.02.2013
15.01.2013
26.01.2011
26.03.2013
ConocoPhillips
ConocoPhillips explores for, produces, transports and markets crude oil,
natural gas, natural gas liquids, liquefied natural gas and bitumen on a
worldwide basis.
Price/Volume
70
8.0 M
60
7.0 M
6.0 M
50
5.0 M
40
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (30.01.2013)
52-Week Low (04.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
COP UN EQUITY YTD Change
COP UN EQUITY YTD % CHANGE
12/2012
12/yy
62.04
50.63
329'679.00
60.37
-2.69%
19.24%
83.96%
1'221.0
73'711.34
21'725.00
0.0
440.0
3'618.00
92'258.34
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
3.0 M
20
2.0 M
10
1.0 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
4.0 M
30
31.12.2009
31.12.2010
136'016.0
175'752.0
0.77x
0.63x
17'606.0
22'655.0
5.94x
4.91x
4'414.0
11'358.0
15.52x
11.50x
Profitability
LTM-4Q
31.12.2011
64'196.0
1.72x
21'649.0
5.10x
12'436.0
12.65x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
57'967.0
1.54x
19'396.0
4.60x
8'428.0
10.80x
19'396.00
12'816.00
22.11%
26.61%
6.23%
14.89%
11.17%
0.72%
27.3%
21.0%
14.1%
14.5%
1.38
0.72
18.55%
45.27%
8.22
28.54
LTM
12/yy
102'785.0
4.47x
22'315.0
4.95x
12'436.0
11.40x
12/yy
96'888.0
4.03x
20'383.0
4.38x
8'428.0
9.52x
FY+1
4.37
0.97
1'218.37
24.10
7.33%
5.29%
0.972
24
3.667
1'715'824
1'701'568
1'643'456
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
52'782.8
56'814.7
12'679.3
11'850.5
1.66x
1.56x
7.19x
7.12x
21'866.8
23'825.2
5'437.1
4'743.1
4.22x
3.87x
4.52x
4.43x
6'595.0
7'694.3
1'669.1
1'459.6
11.03x
9.92x
11.04x
10.90x
S&P Issuer Ratings
07.02.2012
A
STABLE
07.02.2012
A-1
14.65
3.95
0.89
1.07
45.3%
31.0%
0.72
1.28
44.53
12.83
65.16
-30.26
Sales/Revenue/Turnover
6.00
250'000.0
5.00
200'000.0
4.00
150'000.0
3.00
100'000.0
2.00
50'000.0
1.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
ConocoPhillips
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
BERKSHIRE HATHAWAY I
BANK OF NEW YORK MEL
BARROW HANLEY MEWHIN
WADDELL & REED FINAN
NORTHERN TRUST CORPO
JP MORGAN
ALLIANZ ASSET MANAGE
FRANKLIN RESOURCES
DIMENSIONAL FUND ADV
AMERIPRISE FINANCIAL
WELLINGTON MANAGEMEN
NORGES BANK
LSV ASSET MANAGEMENT
FIRST EAGLE INVESTME
FEDERATED INVESTORS
Firm Name
Tudor Pickering & Co
ISI Group
Wells Fargo Securities, LLC
RBC Capital Markets
Oppenheimer & Co
Edward Jones
Societe Generale
Argus Research Corp
JPMorgan
Macquarie
Barclays
Credit Suisse
Jefferies
Raymond James
Alembic Global Advisors
EVA Dimensions
Simmons & Company International
Morgan Stanley
S&P Capital IQ
Howard Weil Inc
Goldman Sachs
Deutsche Bank
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
n/a
BANK OF NEW YORK MEL
BARROW HANLEY MEWHIN
WADDELL & REED FINAN
NORTHERN TRUST CORPO
n/a
n/a
n/a
DIMENSIONAL FUND ADV
AMERIPRISE FINANCIAL
WELLINGTON MANAGEMEN
NORGES BANK
LSV ASSET MANAGEMENT
FIRST EAGLE INVESTME
FEDERATED INVESTORS
Analyst
ROBERT KESSLER
DOUGLAS T TERRESON
ROGER D READ
SCOTT HANOLD
FADEL GHEIT
BRIAN YOUNGBERG
JOHN HERRLIN
PHILIP H WEISS
KATHERINE LUCAS MINYARD
JASON D GAMMEL
PAUL Y CHENG
EDWARD WESTLAKE
IAIN REID
PAVEL MOLCHANOV
JAMES J SULLIVAN
CRAIG STERLING
JEFFREY A DIETERT
J EVAN CALIO
MICHAEL KAY
BLAKE FERNANDEZ
ARJUN N MURTI
PAUL SANKEY
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
Recommendation
hold
buy
outperform
outperform
outperform
buy
buy
buy
overweight
neutral
equalweight
neutral
hold
underperform
overweight
overweight
neutral
Underwt/Attractive
buy
restricted
neutral/attractive
hold
Amt Held
71'071'346
54'568'607
50'804'699
48'505'327
33'527'596
24'123'911
22'609'857
21'070'033
19'331'290
17'621'867
16'928'004
12'748'859
12'475'431
10'750'899
10'128'425
9'790'251
9'343'737
9'239'826
8'806'303
8'778'246
% Out
5.82
4.47
4.16
3.97
2.75
1.98
1.85
1.73
1.58
1.44
1.39
1.04
1.02
0.88
0.83
0.8
0.77
0.76
0.72
0.72
Weighting
Change
3
5
5
5
5
5
5
5
5
3
3
3
3
1
5
5
3
1
5
#N/A N/A
3
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
Latest Chg
463'990
39'681
3'348'467
2'660'967
(181'253)
(953'208)
(629'473)
4'791'486
(372'212)
(606'369)
(16'247)
(661'756)
31'163
115'546
(457'974)
104'400
54'000
Target Price
58
64
#N/A N/A
63
70
#N/A N/A
68
64
70
64
62
70
60
#N/A N/A
72
#N/A N/A
#N/A N/A
58
64
#N/A N/A
61
62
File Dt
Inst Type
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.01.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Government
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
Date
Not Provided
12 month
Not Provided
12 month
18 month
Not Provided
12 month
Not Provided
9 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
Date
25.03.2013
20.03.2013
20.03.2013
19.03.2013
08.03.2013
06.03.2013
04.03.2013
04.03.2013
01.03.2013
01.03.2013
01.03.2013
28.02.2013
28.02.2013
28.02.2013
27.02.2013
22.02.2013
15.02.2013
31.01.2013
31.01.2013
07.01.2013
13.12.2012
10.10.2012
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (08.05.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 13.03.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
COST UW EQUITY YTD Change
COST UW EQUITY YTD % CHANGE
08/2012
02/yy
105.96
76.56
164'241.00
105.72
-0.23%
38.08%
98.97%
436.4
46'133.18
1'382.00
157.0
4'854.00
45'523.18
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
3.0 M
100
2.5 M
80
2.0 M
60
1.5 M
40
1.0 M
20
.5 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
120
31.08.2009
31.08.2010
71'422.0
77'946.0
0.30x
0.28x
2'522.0
2'880.0
8.39x
7.60x
1'086.0
1'303.0
20.46x
19.18x
Profitability
LTM-4Q
31.08.2011
88'915.0
0.34x
3'303.0
9.28x
1'462.0
23.33x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.08.2012
99'137.0
0.39x
3'667.0
10.64x
1'709.0
25.16x
3'667.00
2'759.00
2.78%
2.79%
6.92%
17.53%
13.59%
3.64%
12.4%
3.8%
2.9%
1.7%
1.10
0.48
5.09%
11.18%
86.23
12.43
LTM
FY+1
7.89
0.74
432.15
6.38
25.19%
7.33%
0.745
28
4.036
715'834
739'957
696'108
FY+2
FQ+1
FQ+2
02/yy
02/yy
08/13 Y
08/14 Y
05/13 Q3 08/13 Q4
93'396.0 103'128.0 106'074.6 115'242.1
24'295.1
33'139.4
1.38x
1.49x
0.43x
0.39x
1.92x
1.40x
3'392.0
3'874.0
4'090.6
4'518.5
930.4
1'298.1
9.91x
11.35x
11.14x
10.09x
10.78x
10.53x
1'516.0
1'958.0
2'003.7
2'198.1
450.2
638.4
24.48x
23.65x
23.24x
21.01x
22.46x
21.94x
S&P Issuer Ratings
Long-Term Rating Date
28.11.2012
Long-Term Rating
A+
Long-Term Outlook
STABLE
Short-Term Rating Date
28.11.2012
Short-Term Rating
A-1
Credit Ratios
EBITDA/Interest Exp.
34.92
(EBITDA-Capex)/Interest Exp.
20.83
Net Debt/EBITDA
-0.20
Total Debt/EBITDA
1.26
Reference
Total Debt/Equity
11.2%
Total Debt/Capital
9.9%
Asset Turnover
3.64
Net Fixed Asset Turnover
7.96
Accounts receivable turnover-days
4.30
Inventory Days
29.84
Accounts Payable Turnover Day
28.11
Cash Conversion Cycle
3.64
Sales/Revenue/Turnover
16.00
120'000.0
14.00
100'000.0
12.00
80'000.0
10.00
8.00
60'000.0
6.00
40'000.0
4.00
20'000.0
2.00
0.00
04.09.2009
0.0
04.03.2010
04.09.2010
04.03.2011
04.09.2011
04.03.2012
04.09.2012
04.03.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
STATE STREET
DAVIS SELECTED ADVIS
FMR LLC
VANGUARD GROUP INC
JENNISON ASSOCIATES
NORTHERN TRUST CORPO
AMERICAN CENTURY COM
GOLDMAN SACHS GROUP
BANK OF NEW YORK MEL
INVESCO LTD
NORGES BANK
JP MORGAN
T ROWE PRICE ASSOCIA
BERKSHIRE HATHAWAY I
BANK OF AMERICA CORP
MONTAG & CALDWELL IN
WINSLOW CAPITAL MANA
Firm Name
Northcoast Research
ISI Group
William Blair & Co
Guggenheim Securities LLC
Morgan Stanley
Daiwa Securities Co. Ltd.
BMO Capital Markets
Argus Research Corp
Robert W. Baird & Co
Stifel
Cowen and Company
Telsey Advisory Group
EVA Dimensions
Credit Suisse
Edward Jones
JPMorgan
Janney Montgomery Scott LLC
Jefferies
Sanford C. Bernstein & Co
Raymond James
Oppenheimer & Co
Piper Jaffray
Barclays
Susquehanna Financial Group
Tigress Financial Partners
Deutsche Bank
McAdams Wright Ragen Inc
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
DAVIS SELECTED ADVIS
n/a
Multiple Portfolios
JENNISON ASSOCIATES
NORTHERN TRUST CORPO
AMERICAN CENTURY COM
GOLDMAN SACHS GROUP
BANK OF NEW YORK MEL
INVESCO LTD
NORGES BANK
n/a
T ROWE PRICE ASSOCIA
n/a
BANK OF AMERICA
MONTAG & CALDWELL IN
WINSLOW CAPITAL MANA
Analyst
CHARLES E CERANKOSKY
GREGORY MELICH
MARK R MILLER
JOHN HEINBOCKEL
MARK WILTAMUTH
KAHORI TAMADA
KAREN SHORT
CHRISTOPHER GRAJA
PETER S BENEDICT
DAVID A SCHICK
FAYE LANDES
JOSEPH I FELDMAN
AUSTIN BURKETT
MICHAEL B EXSTEIN
BRIAN YARBROUGH
CHRISTOPHER HORVERS
DAVID S STRASSER
DANIEL T BINDER
COLIN MCGRANAHAN
BUDD BUGATCH
BRIAN NAGEL
SEAN NAUGHTON
ROBERT S DRBUL
ROBERT SUMMERS
IVAN FEINSETH
PAUL TRUSSELL
DAN GEIMAN
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
Recommendation
buy
strong buy
outperform
neutral
Overwt/In-Line
neutral
outperform
buy
outperform
buy
neutral
no rating system
hold
outperform
hold
overweight
buy
hold
market perform
market perform
market perform
overweight
equalweight
negative
strong buy
buy
hold
Amt Held
51'504'375
21'671'006
19'469'354
17'509'689
15'318'718
13'559'317
12'240'111
8'972'856
7'834'546
6'028'756
5'846'843
5'649'922
5'135'180
4'427'681
4'378'833
4'345'534
4'333'363
4'196'949
3'799'389
3'546'132
% Out
11.8
4.97
4.46
4.01
3.51
3.11
2.8
2.06
1.8
1.38
1.34
1.29
1.18
1.01
1
1
0.99
0.96
0.87
0.81
Weighting
Change
5
5
5
3
5
3
5
5
5
5
3
#N/A N/A
3
5
3
5
5
3
3
3
3
5
3
2
5
5
3
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
N
M
M
Latest Chg
(1'398'958)
(3'954'786)
612'041
163'901
(2'770'670)
914'367
187'224
(52'440)
716'763
(762'123)
13'503
(571'875)
1'674'312
1'416'393
403'832
1'112'363
(109'758)
(52'878)
Target Price
115
116
#N/A N/A
98
113
108
115
115
117
107
#N/A N/A
110
#N/A N/A
115
#N/A N/A
113
116
92
102
#N/A N/A
105
113
105
65
#N/A N/A
110
102
File Dt
31.12.2012
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
9 month
12 month
12 month
12 month
Not Provided
18 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
25.03.2013
24.03.2013
22.03.2013
20.03.2013
19.03.2013
15.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
04.03.2013
27.02.2013
15.02.2013
11.10.2012
26.03.2013
Price/Volume
6.0 M
5.0 M
4.0 M
30
12/2012
12/yy
56.07
43.09
352'838.00
55.86
-0.37%
29.64%
97.29%
1'231.2
68'774.52
9'828.00
0.0
0.0
1'380.00
77'222.51
3.0 M
20
2.0 M
10
1.0 M
0
m-12
31.12.2009
31.12.2010
98'729.0
95'778.0
0.56x
0.59x
7'827.0
7'606.0
7.02x
7.37x
3'696.0
3'427.0
12.29x
13.96x
Profitability
LTM-4Q
31.12.2011
107'100.0
0.57x
7'898.0
7.79x
3'461.0
15.75x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
123'133.0
0.55x
8'981.0
7.57x
3'877.0
15.11x
8'981.00
7'228.00
5.87%
5.14%
5.94%
10.24%
8.83%
1.89%
18.3%
7.3%
5.9%
3.1%
1.44
0.57
14.91%
26.07%
19.67
9.67
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
LTM
FY+1
1.16
0.78
1'228.62
10.98
24.23%
16.03%
0.781
25
4.760
1'756'631
1'496'818
1'404'915
FY+2
FQ+1
FQ+2
12/yy
12/yy
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
107'100.0 123'133.0 125'267.7 130'060.8
30'356.6
31'233.3
2.13x
2.18x
0.62x
0.59x
2.55x
2.48x
7'898.0
8'981.0
9'760.0
10'336.3
2'063.9
2'354.7
7.79x
7.57x
7.92x
7.48x
7.94x
7.81x
3'461.0
3'877.0
4'735.6
5'031.6
959.5
1'124.9
15.62x
15.11x
14.09x
12.68x
14.11x
13.79x
S&P Issuer Ratings
Long-Term Rating Date
23.03.2007
Long-Term Rating
BBB+
Long-Term Outlook
STABLE
Short-Term Rating Date
29.04.2004
Short-Term Rating
A-2
Credit Ratios
EBITDA/Interest Exp.
15.22
(EBITDA-Capex)/Interest Exp.
11.78
Net Debt/EBITDA
0.94
Total Debt/EBITDA
1.09
Reference
Total Debt/Equity
26.1%
Total Debt/Capital
20.7%
Asset Turnover
1.89
Net Fixed Asset Turnover
14.40
Accounts receivable turnover-days
18.61
Inventory Days
37.84
Accounts Payable Turnover Day
17.05
Cash Conversion Cycle
39.40
Sales/Revenue/Turnover
14.00
140'000.0
12.00
120'000.0
10.00
100'000.0
8.00
80'000.0
6.00
60'000.0
4.00
40'000.0
2.00
20'000.0
0.00
01.01.2010
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
7.0 M
50
40
Valuation Analysis
31.12.2008
87'471.9
0.59x
7'320.4
7.10x
3'212.1
11.78x
60
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
FMR LLC
VANGUARD GROUP INC
STATE STREET
DAVIS SELECTED ADVIS
WELLINGTON MANAGEMEN
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
FRANKLIN RESOURCES
ABERDEEN
NORTHERN TRUST CORPO
SUN LIFE FINANCIAL I
BANK OF NEW YORK MEL
LAZARD ASSET MANAGEM
T ROWE PRICE ASSOCIA
UBS
DIMENSIONAL FUND ADV
WINSLOW CAPITAL MANA
NORGES BANK
INVESCO LTD
Firm Name
Lazard Capital Markets
BMO Capital Markets
Morgan Stanley
ISI Group
Goldman Sachs
Raymond James
Edward Jones
Susquehanna Financial Group
RBC Capital Markets
Argus Research Corp
Macquarie
Cantor Fitzgerald
Guggenheim Securities LLC
Barclays
Credit Suisse
SunTrust Robinson Humphrey
JPMorgan
William Blair & Co
Mizuho Securities USA Inc
JMP Securities
S&P Capital IQ
EVA Dimensions
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
DAVIS SELECTED ADVIS
WELLINGTON MANAGEMEN
n/a
Multiple Portfolios
n/a
n/a
NORTHERN TRUST CORPO
n/a
BANK OF NEW YORK MEL
n/a
T ROWE PRICE ASSOCIA
n/a
DIMENSIONAL FUND ADV
WINSLOW CAPITAL MANA
NORGES BANK
INVESCO LTD
Analyst
THOMAS GALLUCCI
JENNIFER LYNCH
RICKY GOLDWASSER
ROSS MUKEN
MATTHEW J FASSLER
JOHN W RANSOM
JUDSON CLARK
ROBERT SUMMERS
FRANK G MORGAN
CHRISTOPHER GRAJA
DANE LEONE
AJAY JAIN
JOHN HEINBOCKEL
MEREDITH ADLER
EDWARD J KELLY
DAVID G MAGEE
LISA C GILL
MARK R MILLER
ANN HYNES
TIM MCDONOUGH
JOSEPH AGNESE
AUSTIN BURKETT
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
13F
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
Recommendation
buy
outperform
Overwt/In-Line
buy
neutral/neutral
outperform
buy
Positive
outperform
buy
outperform
buy
buy
overweight
outperform
neutral
overweight
outperform
buy
market outperform
strong buy
buy
Amt Held
76'766'294
59'644'640
56'347'293
51'791'427
49'038'267
47'574'729
36'413'422
35'751'125
32'174'188
20'740'777
19'163'549
18'391'850
15'895'335
15'243'101
14'329'925
11'803'008
10'869'017
10'527'099
10'256'556
9'663'679
% Out
6.24
4.84
4.58
4.21
3.98
3.86
2.96
2.9
2.61
1.68
1.56
1.49
1.29
1.24
1.16
0.96
0.88
0.86
0.83
0.78
Weighting
Change
5
5
5
5
3
5
5
4
5
5
5
5
5
5
5
3
5
5
5
4
5
5
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(2'342'171)
2'046'832
(253'210)
(9'508'072)
1'525'580
(14'617'578)
(2'467'377)
(27'300)
(116'523)
1'978'832
(566'014)
(2'244'339)
125'365
(4'742'655)
(32'206)
(156'583)
686'407
(4'367'748)
Target Price
64
59
60
59
57
58
#N/A N/A
60
59
58
56
57
60
57
55
#N/A N/A
59
#N/A N/A
56
58
62
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
28.02.2013
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
9 month
Not Provided
12 month
12 month
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Government
Investment Advisor
Date
25.03.2013
20.03.2013
15.03.2013
14.03.2013
11.03.2013
08.03.2013
06.03.2013
04.03.2013
28.02.2013
07.02.2013
07.02.2013
07.02.2013
07.02.2013
07.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
16.01.2013
26.03.2013
Price/Volume
3.0 M
60
2.5 M
2.0 M
40
12/2012
12/yy
73.13
50.89
97'625.00
57.05
-21.99%
12.10%
27.56%
406.0
23'162.30
11'644.00
0.0
0.0
6'980.00
27'826.30
1.5 M
30
20
1.0 M
10
.5 M
0
m-12
31.12.2009
31.12.2010
8'136.0
10'017.0
4.85x
3.66x
4'391.0
5'936.0
8.99x
6.17x
(2'479.0)
4'550.0
22.41x
13.65x
Profitability
31.12.2011
10'965.0
2.53x
6'389.0
4.35x
4'704.0
24.70x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
9'679.0
2.66x
5'253.0
4.91x
(206.0)
15.77x
5'253.00
2'442.00
25.23%
-3.28%
-0.49%
-1.00%
0.23%
32.4%
54.1%
25.0%
-2.1%
1.49
1.37
26.88%
54.72%
7.36
61.75
m-12
j-12
LTM-4Q
LTM
12/yy
10'783.0
12.04x
6'138.0
4.52x
4'704.0
10.16x
12/yy
9'651.0
11.76x
5'225.0
4.94x
(206.0)
15.91x
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
1.40
1.30
380.01
7.70
-20.35%
10.02%
1.296
32
4.094
566'513
785'380
717'389
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
9'867.5
11'105.8
2'216.2
2'357.4
3.28x
3.10x
14.36x
13.71x
5'642.8
6'733.2
1'257.0
1'352.6
4.93x
4.13x
4.85x
4.61x
1'454.2
2'087.9
269.2
315.5
16.11x
11.41x
16.18x
13.89x
S&P Issuer Ratings
18.03.2008
BBB+
STABLE
29.08.2000
A-2
11.57
-6.55
0.89
2.23
54.7%
35.4%
0.23
0.37
49.76
5.93
81.60
-26.06
Sales/Revenue/Turnover
8.00
16'000.0
7.00
14'000.0
6.00
12'000.0
5.00
10'000.0
4.00
8'000.0
3.00
6'000.0
2.00
4'000.0
1.00
2'000.0
0.00
01.01.2010
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
3.5 M
70
50
Valuation Analysis
31.12.2008
13'615.0
2.56x
8'952.0
3.89x
(2'148.0)
8.59x
80
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
CAPITAL GROUP COMPAN
MITCHELL GEORGE PHYD
VANGUARD GROUP INC
STATE STREET
HARRIS ASSOCIATES LP
VANGUARD GROUP INC
FRANKLIN RESOURCES
FIDUCIARY MANAGEMENT
GOLDMAN SACHS GROUP
JP MORGAN
DAVIS SELECTED ADVIS
WELLINGTON MANAGEMEN
INTERNATIONAL VALUE
LAZARD ASSET MANAGEM
FIRST EAGLE INVESTME
NORTHERN TRUST CORPO
GREENHAVEN ASSOCIATE
BANK OF NEW YORK MEL
TWEEDY BROWNE COMPAN
Firm Name
Capital One Southcoast, Inc.
Deutsche Bank
Sanford C. Bernstein & Co
Susquehanna Financial Group
Jefferies
FBR Capital Markets
Oppenheimer & Co
Simmons & Company International
Argus Research Corp
Macquarie
Buckingham Research Group
Guggenheim Securities LLC
JPMorgan
Raymond James
EVA Dimensions
Morgan Stanley
RBC Capital Markets
Howard Weil Inc
Robert W. Baird & Co
Barclays
Societe Generale
Credit Suisse
Johnson Rice & Co
Peters & Co Ltd
Wells Fargo Securities, LLC
Tudor Pickering & Co
Alembic Global Advisors
Goldman Sachs
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
n/a
HARRIS ASSOC LP
Multiple Portfolios
n/a
FIDUCIARY MANAGEMENT
GOLDMAN SACHS GROUP
n/a
DAVIS SELECTED ADVIS
WELLINGTON MANAGEMEN
INTERNATIONAL VALUE
n/a
FIRST EAGLE INVESTME
NORTHERN TRUST CORPO
GREENHAVEN ASSOCIATE
BANK OF NEW YORK MEL
TWEEDY BROWNE COMPAN
Analyst
ELIOT JAVANMARDI
STEPHEN RICHARDSON
BOB BRACKETT
DUANE GRUBERT
BIJU Z PERINCHERIL
REHAN RASHID
FADEL GHEIT
DAVID W KISTLER
PHILIP H WEISS
JOSEPH MAGNER
ROBERT L CHRISTENSEN JR
ROBERT CORDRAY
JOSEPH D ALLMAN
ANDREW COLEMAN
CRAIG STERLING
J EVAN CALIO
SCOTT HANOLD
PETER KISSEL
HSULIN PENG
THOMAS R DRISCOLL
JOHN HERRLIN
ARUN JAYARAM
CHARLES MEADE
KAM S SANDHAR
DAVID R TAMERON
BRIAN LIVELY
JAMES J SULLIVAN
BRIAN SINGER
Source
ULT-AGG
ULT-AGG
13D
13F
ULT-AGG
13F
MF-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
Recommendation
neutral
hold
market perform
Positive
buy
outperform
outperform
overweight
hold
neutral
buy
buy
overweight
outperform
underweight
Equalwt/Attractive
outperform
sector outperform
outperform
equalweight
buy
outperform
equalweight
sector outperform
market perform
hold
overweight
buy/attractive
Amt Held
27'085'482
26'358'470
23'372'374
16'704'838
16'127'146
15'970'115
10'520'249
8'725'054
8'347'437
8'030'292
7'551'334
7'131'339
6'095'512
5'580'292
5'338'369
5'326'710
5'231'537
4'540'933
4'396'481
3'737'500
% Out
6.67
6.49
5.76
4.11
3.97
3.93
2.59
2.15
2.06
1.98
1.86
1.76
1.5
1.37
1.31
1.31
1.29
1.12
1.08
0.92
Weighting
Change
3
3
3
4
5
5
5
5
3
3
5
5
5
5
1
3
5
5
5
3
5
5
3
5
3
3
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
3'406'170
450'066
(74'208)
5'526'100
6'856'270
25'663
(941'086)
857'851
(2'772'487)
812'580
330'608
(50'957)
1'090'031
187'457
(119'365)
(262'635)
2'210'982
Target Price
84
66
67
74
71
77
67
92
#N/A N/A
61
78
74
62
69
#N/A N/A
60
72
69
68
61
65
75
#N/A N/A
75
#N/A N/A
83
70
69
File Dt
Inst Type
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
07.03.2012
n/a
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
28.02.2013
Unclassified
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
9 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
Date
26.03.2013
25.03.2013
22.03.2013
21.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
11.03.2013
07.03.2013
01.03.2013
28.02.2013
27.02.2013
25.02.2013
25.02.2013
21.02.2013
21.02.2013
21.02.2013
21.02.2013
21.02.2013
20.02.2013
20.02.2013
20.02.2013
20.02.2013
20.02.2013
01.02.2013
08.01.2013
13.12.2012
26.03.2013
Price/Volume
40
4.0 M
25
12/2012
12/yy
36.08
27.45
481'351.00
32.11
-11.00%
16.98%
56.08%
1'204.4
38'672.13
20'987.00
4'000.0
1'137.0
4'318.00
60'478.13
3.0 M
15
2.0 M
10
1.0 M
5
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
5.0 M
30
20
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (25.04.2012)
52-Week Low (16.11.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
DOW UN EQUITY YTD Change
DOW UN EQUITY YTD % CHANGE
31.12.2008
57'361.0
0.41x
4'316.0
5.46x
579.0
25.58x
6.0 M
35
31.12.2009
31.12.2010
44'875.0
53'674.0
1.25x
1.14x
4'176.0
6'078.0
13.38x
10.11x
648.0
2'310.0
43.86x
17.42x
Profitability
LTM-4Q
31.12.2011
59'985.0
0.92x
6'909.0
7.99x
2'742.0
11.32x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
56'786.0
1.07x
6'645.0
9.14x
1'182.0
17.02x
6'645.00
3'947.00
6.95%
2.93%
1.70%
4.79%
4.40%
0.82%
15.0%
11.3%
6.6%
2.1%
2.06
0.82
30.15%
124.35%
11.39
6.01
LTM
12/yy
59'985.0
3.94x
6'909.0
7.99x
2'742.0
11.23x
12/yy
56'786.0
4.23x
6'425.0
9.45x
1'182.0
16.93x
FY+1
3.77
1.42
1'199.15
18.05
-5.55%
0.34%
1.418
25
3.120
1'768'101
1'562'352
1'723'836
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
58'994.5
61'769.9
14'961.0
15'200.8
1.02x
0.96x
4.15x
4.10x
8'302.9
9'223.6
2'158.0
2'168.3
7.27x
6.54x
7.13x
6.85x
2'797.9
3'499.0
771.7
840.9
13.57x
10.88x
13.62x
12.47x
S&P Issuer Ratings
11.05.2011
BBB
STABLE
11.05.2011
A-2
4.91
2.98
2.59
3.27
124.4%
48.8%
0.82
3.26
32.14
60.86
36.43
56.57
Sales/Revenue/Turnover
16.00
70'000.0
14.00
60'000.0
12.00
50'000.0
10.00
40'000.0
8.00
30'000.0
6.00
20'000.0
4.00
10'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
STATE STREET
WELLINGTON MANAGEMEN
FRANKLIN RESOURCES
VANGUARD GROUP INC
DODGE & COX
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
JP MORGAN
GLOBAL THEMATIC PART
UBS
TIAA CREF INVESTMENT
NORGES BANK
GEODE CAPITAL MANAGE
FMR LLC
CREDIT SUISSE AG
WADDELL & REED FINAN
LAZARD ASSET MANAGEM
Firm Name
Susquehanna Financial Group
Wells Fargo Securities, LLC
Monness, Crespi, Hardt & Co
Credit Suisse
Tigress Financial Partners
Jefferies
Macquarie
Edward Jones
Cowen Securities LLC
SunTrust Robinson Humphrey
Alembic Global Advisors
Argus Research Corp
RBC Capital Markets
Deutsche Bank
Morgan Stanley
Hilliard Lyons
JPMorgan
Credit Agricole Securities (USA)
Barclays
EVA Dimensions
Goldman Sachs
Gilford Securities
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
WELLINGTON MANAGEMEN
n/a
Multiple Portfolios
DODGE & COX
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
GLOBAL THEMATIC PART
n/a
TIAA-CREF INVESTMENT
NORGES BANK
GEODE CAPITAL MANAGE
n/a
CREDIT SUISSE AG
WADDELL & REED FINAN
n/a
Analyst
DONALD D CARSON
FRANK J MITSCH
HERBERT A HARDT
JOHN P MCNULTY
IVAN FEINSETH
LAURENCE ALEXANDER
COOLEY MAY
MATT ARNOLD
CHARLES NEIVERT
ANDREW W CASH
HASSAN I AHMED
WILLIAM V SELESKY
CHRIS NOCELLA
DAVID I BEGLEITER
VINCENT ANDREWS
STEPHEN A O'NEIL
JEFFREY J ZEKAUSKAS
MARK W CONNELLY
DUFFY FISCHER
CRAIG STERLING
ROBERT KOORT
PAUL C CHRISTOPHERSON
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
Recommendation
neutral
market perform
neutral
outperform
neutral
hold
outperform
sell
hold
reduce
overweight
hold
sector perform
hold
Equalwt/Attractive
neutral
neutral
underperform
equalweight
sell
buy/attractive
sell
Amt Held
206'669'684
64'551'940
53'273'239
50'117'719
44'215'462
34'641'883
34'001'200
29'819'338
16'678'443
13'758'775
12'934'391
10'019'816
8'237'734
7'946'302
7'892'282
7'881'697
7'876'069
7'307'654
7'277'441
6'944'090
% Out
17.16
5.36
4.42
4.16
3.67
2.88
2.82
2.48
1.38
1.14
1.07
0.83
0.68
0.66
0.66
0.65
0.65
0.61
0.6
0.58
Weighting
Change
3
3
3
5
3
3
5
1
3
2
5
3
3
3
3
3
3
1
3
1
5
1
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
Latest Chg
(2'030'698)
1'487'720
1'409'446
(1'803'882)
2'675'646
22'392
289'327
(281'468)
5'471'693
860'998
(1'694'177)
438'661
1'240'403
(743'820)
1'194'837
1'323'515
4'374'725
(945'071)
Target Price
35
#N/A N/A
#N/A N/A
39
#N/A N/A
34
39
#N/A N/A
#N/A N/A
28
45
#N/A N/A
35
35
#N/A N/A
#N/A N/A
33
33
36
#N/A N/A
41
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
9 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Unclassified
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Date
24.03.2013
21.03.2013
20.03.2013
18.03.2013
13.03.2013
08.03.2013
05.03.2013
01.03.2013
28.02.2013
25.02.2013
19.02.2013
07.02.2013
04.02.2013
01.02.2013
01.02.2013
01.02.2013
01.02.2013
01.02.2013
01.02.2013
01.02.2013
13.01.2013
18.09.2012
26.03.2013
eBay Inc
eBay Inc. operates an online trading community. The Company's service is used
by buyers and sellers for the exchange of products and services such as coins,
collectibles, computers, memorabilia, stamps and toys, as well as concert and
sporting tickets. eBay also offers, through a subsidiary, secure online
payment services.
Price/Volume
70
16.0 M
60
14.0 M
12.0 M
50
10.0 M
40
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (01.02.2013)
52-Week Low (10.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 28.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
EBAY UW EQUITY YTD Change
EBAY UW EQUITY YTD % CHANGE
12/2012
12/yy
57.26
35.32
1'332'741.00
51.78
-9.52%
46.60%
72.88%
1'296.5
67'133.41
4'519.00
0.0
0.0
9'408.00
62'244.41
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
6.0 M
20
4.0 M
10
2.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
8.0 M
30
31.12.2009
31.12.2010
8'727.4
9'156.3
2.93x
3.42x
2'305.9
2'837.5
11.10x
11.03x
2'389.1
1'801.0
15.90x
20.17x
Profitability
LTM-4Q
31.12.2011
11'651.7
3.02x
3'313.0
10.62x
3'229.4
17.23x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
14'072.0
4.34x
4'088.0
14.95x
2'609.0
26.15x
4'088.00
2'888.00
20.52%
21.92%
8.11%
13.46%
0.44%
70.0%
29.1%
20.5%
18.5%
1.96
0.94
12.19%
21.66%
18.72
-
LTM
12/yy
11'651.7
12.60x
3'313.0
10.62x
3'229.4
17.33x
12/yy
14'071.0
15.16x
4'090.0
14.94x
2'610.0
26.29x
FY+1
0.00
1.24
1'172.15
10.89
35.98%
1.49%
1.242
44
4.500
3'578'202
3'002'050
2'969'003
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
16'351.1
18'761.3
3'765.3
3'946.7
3.76x
3.11x
16.34x
15.38x
5'392.5
6'235.5
1'237.2
1'298.8
11.57x
10.01x
11.57x
11.11x
3'637.3
4'253.1
823.4
872.0
18.79x
16.04x
18.82x
18.14x
S&P Issuer Ratings
02.03.2010
A
STABLE
05.11.2010
A-1
64.89
44.94
-1.20
1.10
21.7%
17.8%
0.44
6.29
19.55
25.36
-
Sales/Revenue/Turnover
25.00
16'000.0
14'000.0
20.00
12'000.0
10'000.0
15.00
8'000.0
10.00
6'000.0
4'000.0
5.00
0.00
01.01.2010
2'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
eBay Inc
Holdings By:
All
Holder Name
OMIDYAR PIERRE M
FMR LLC
BLACKROCK
VANGUARD GROUP INC
STATE STREET
T ROWE PRICE ASSOCIA
JANUS CAPITAL MANAGE
VANGUARD GROUP INC
INVESCO LTD
BAILLIE GIFFORD AND
WELLINGTON MANAGEMEN
OPPENHEIMERFUNDS INC
DODGE & COX
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
TIAA CREF INVESTMENT
JP MORGAN
UBS
WINSLOW CAPITAL MANA
CITIGROUP INCORPORAT
Firm Name
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
n/a
T ROWE PRICE ASSOCIA
n/a
Multiple Portfolios
INVESCO LTD
BAILLIE GIFFORD & CO
WELLINGTON MANAGEMEN
OPPENHEIMER FUNDS IN
DODGE & COX
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
TIAA-CREF INVESTMENT
n/a
n/a
WINSLOW CAPITAL MANA
CITIGROUP INCORPORAT
Analyst
Cantor Fitzgerald
YOUSSEF H SQUALI
JMP Securities
RONALD V JOSEY III
Compass Point Research & Trading LLC DOUGLAS GREINER
Topeka Capital Markets Inc
VICTOR ANTHONY
Janney Montgomery Scott LLC
SHAWN C MILNE
Keefe, Bruyette & Woods
SANJAY SAKHRANI
Stifel
JORDAN ROHAN
RBC Capital Markets
MARK S MAHANEY
JPMorgan
DOUGLAS ANMUTH
Robert W. Baird & Co
COLIN SEBASTIAN
Sanford C. Bernstein & Co
CARLOS KIRJNER
Wedbush
GIL B LURIA
Cowen and Company
JOHN BLACKLEDGE
Susquehanna Financial Group
JAMES E FRIEDMAN
Piper Jaffray
EUGENE E MUNSTER
Morgan Stanley
SCOTT W DEVITT
Jefferies
BRIAN J PITZ
Macquarie
BENJAMIN A SCHACHTER
Telsey Advisory Group
THOMAS FORTE
Edward Jones
JOSH OLSON
Barclays
ANTHONY J DICLEMENTE
Argus Research Corp
DAVID RITTER
Nomura
BRIAN NOWAK
Credit Agricole Securities (USA)
JAMES LEE
Canaccord Genuity Corp
MICHAEL GRAHAM
Evercore Partners
KEN SENA
BMO Capital Markets
EDWARD S WILLIAMS
Daiwa Securities Co. Ltd.
KAZUYA NISHIMURA
Raymond James
AARON M KESSLER
Credit Suisse
STEPHEN JU
Needham & Co
KERRY RICE
B Riley & Company, Inc
SCOTT TILGHMAN
BGC Partners
COLIN W GILLIS
Wells Fargo Securities, LLC
MATTHEW NEMER
S&P Capital IQ
SCOTT H KESSLER
Atlantic Equities LLP
JAMES CORDWELL
Benchmark Company LLC
DANIEL L KURNOS
Pacific Crest Securities
CHAD BARTLEY
EVA Dimensions
ANDREW S ZAMFOTIS
Goldman Sachs
HEATH P TERRY
Tigress Financial Partners
IVAN FEINSETH
Deutsche Bank
ROSS SANDLER
Source
Form 4
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
Recommendation
buy
market outperform
neutral
hold
buy
outperform
buy
outperform
overweight
outperform
outperform
outperform
neutral
Positive
overweight
Overwt/Attractive
buy
outperform
no rating system
buy
equalweight
buy
buy
buy
hold
overweight
outperform
outperform
outperform
neutral
buy
buy
buy
market perform
hold
overweight
buy
outperform
overweight
buy/attractive
buy
hold
Amt Held
121'858'408
68'453'183
58'093'760
51'962'883
47'412'395
45'140'231
40'275'490
32'968'767
31'965'970
30'626'146
28'907'848
20'441'029
19'219'016
17'984'285
15'628'609
13'224'417
12'566'376
11'689'306
11'256'041
10'734'813
% Out
9.4
5.28
4.48
4.01
3.66
3.48
3.11
2.54
2.47
2.36
2.23
1.58
1.48
1.39
1.21
1.02
0.97
0.9
0.87
0.83
Weighting
Change
5
4
3
3
5
5
5
5
5
5
5
5
3
4
5
5
5
5
#N/A N/A
5
3
5
5
5
3
5
5
5
5
3
5
5
5
3
3
5
5
5
5
5
5
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
N
M
M
M
M
M
M
M
M
M
M
M
M
M
N
N
Latest Chg
(30'000)
477'861
(32'761)
1'287'075
(847'963)
4'482'329
(5'193'294)
(4'169'104)
(1'802'736)
(10'212'918)
(1'345'350)
(2'197'523)
(984'371)
49'071
492'872
2'942'485
522'751
2'454'742
10'696'161
Target Price
56
67
50
54
65
62
63
57
56
60
66
64
#N/A N/A
66
63
62
62
58
61
#N/A N/A
60
65
58
64
56
64
64
60
61
50
60
64
65
#N/A N/A
60
62
63
62
#N/A N/A
63
#N/A N/A
55
File Dt
21.12.2012
31.12.2012
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
12 month
12 month
12 month
12 month
12 month
9 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Inst Type
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Unclassified
Investment Advisor
Investment Advisor
Date
26.03.2013
26.03.2013
26.03.2013
26.03.2013
25.03.2013
25.03.2013
25.03.2013
24.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
21.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
19.03.2013
19.03.2013
18.03.2013
18.03.2013
18.03.2013
14.03.2013
14.03.2013
28.02.2013
22.02.2013
22.01.2013
17.01.2013
17.01.2013
17.01.2013
17.01.2013
17.01.2013
17.01.2013
17.01.2013
17.01.2013
16.01.2013
15.01.2013
11.01.2013
03.12.2012
20.09.2012
26.03.2013
Price/Volume
12/2012
12/yy
53.98
41.68
523'127.00
48.67
-9.84%
16.77%
60.41%
934.3
45'471.80
11'740.00
237.0
91.0
4'407.00
53'132.80
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
6.0 M
50
5.0 M
40
4.0 M
30
3.0 M
20
2.0 M
10
1.0 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
60
31.12.2009
31.12.2010
26'109.0
31'505.0
1.38x
1.58x
3'086.0
4'419.0
11.67x
11.29x
1'755.0
3'031.0
16.59x
15.21x
Profitability
LTM-4Q
31.12.2011
33'681.0
1.53x
5'046.0
10.23x
3'474.0
12.90x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
34'812.0
1.43x
4'794.0
10.35x
2'788.0
13.51x
4'794.00
3'081.00
8.85%
8.95%
5.68%
30.54%
14.60%
0.75%
26.5%
13.7%
9.1%
8.0%
1.56
0.73
23.60%
119.18%
6.44
3.70
LTM
12/yy
35'779.0
6.27x
5'295.0
9.75x
3'474.0
12.14x
12/yy
36'951.0
6.19x
5'069.0
9.79x
2'788.0
12.83x
FY+1
3.49
1.15
932.67
36.96
-5.27%
9.21%
1.148
26
3.462
1'508'430
1'330'074
1'287'409
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
36'150.0
38'367.2
10'440.3
10'205.5
1.37x
1.24x
4.78x
4.88x
6'714.8
7'249.0
2'342.3
2'184.6
7.91x
7.32x
8.00x
7.77x
3'630.2
4'081.7
1'444.3
1'318.2
12.41x
11.10x
12.39x
11.51x
S&P Issuer Ratings
17.05.2011
A
STABLE
17.05.2011
A-1
9.57
5.99
1.45
2.32
119.2%
53.6%
0.75
2.83
56.83
98.90
64.88
96.29
Sales/Revenue/Turnover
14.00
40'000.0
12.00
35'000.0
30'000.0
10.00
25'000.0
8.00
20'000.0
6.00
15'000.0
4.00
10'000.0
2.00
5'000.0
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
STATE STREET
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
FRANKLIN RESOURCES
JP MORGAN
FMR LLC
DUPONT CAPITAL MANAG
BANK OF AMERICA CORP
GOLDMAN SACHS GROUP
JANUS CAPITAL MANAGE
LAZARD ASSET MANAGEM
WILMINGTON TRUST COM
NORGES BANK
ALLIANZ ASSET MANAGE
STATE FARM MUTUAL AU
BARROW HANLEY MEWHIN
Firm Name
Jefferies
BGC Partners
Monness, Crespi, Hardt & Co
Hamburger Sparkasse
Susquehanna Financial Group
Wells Fargo Securities, LLC
RBC Capital Markets
Edward Jones
Alembic Global Advisors
Piper Jaffray
Barclays
Oppenheimer & Co
Morgan Stanley
Credit Suisse
Argus Research Corp
EVA Dimensions
Goldman Sachs
Deutsche Bank
JPMorgan
Macquarie
SunTrust Robinson Humphrey
S&P Capital IQ
Credit Agricole Securities (USA)
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
n/a
n/a
DUPONT CAPITAL MANAG
BANK OF AMERICA
GOLDMAN SACHS GROUP
n/a
n/a
WILMINGTON TRUST COM
NORGES BANK
n/a
STATE FARM MUTUAL AU
BARROW HANLEY MEWHIN
Analyst
LAURENCE ALEXANDER
MARK R GULLEY
HERBERT A HARDT
MARCO GUENTHER
DONALD D CARSON
FRANK J MITSCH
CHRIS NOCELLA
MATT ARNOLD
HASSAN I AHMED
MIKE J RITZENTHALER
DUFFY FISCHER
EDWARD H YANG
VINCENT ANDREWS
JOHN P MCNULTY
WILLIAM V SELESKY
CRAIG STERLING
ROBERT KOORT
DAVID I BEGLEITER
JEFFREY J ZEKAUSKAS
COOLEY MAY
ANDREW W CASH
LEO LARKIN
MARK W CONNELLY
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
Recommendation
hold
buy
neutral
hold
Positive
market perform
sector perform
buy
neutral
neutral
equalweight
market perform
Equalwt/Attractive
not rated
buy
hold
neutral/attractive
buy
neutral
outperform
reduce
hold
underperform
Amt Held
59'317'304
44'818'529
41'581'756
39'894'000
26'437'219
16'549'700
15'589'054
14'592'180
11'197'757
10'054'489
9'974'422
9'902'768
9'417'027
8'569'404
7'362'469
7'109'145
6'914'198
6'862'040
6'717'535
6'563'988
% Out
6.35
4.8
4.45
4.27
2.83
1.77
1.67
1.56
1.2
1.08
1.07
1.06
1.01
0.92
0.79
0.76
0.74
0.73
0.72
0.7
Weighting
Change
3
5
3
3
4
3
3
5
3
3
3
3
3
#N/A N/A
5
3
3
5
3
5
2
3
1
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
U
D
Latest Chg
722'433
(551'090)
503'318
(335'003)
4'288'437
(6'203'287)
(5'490'577)
1'920'348
1'631'539
(69'262)
(1'419'257)
(903'445)
1'562'855
(94'681)
(22'604)
266'865
Target Price
52
55
#N/A N/A
#N/A N/A
60
#N/A N/A
52
#N/A N/A
43
51
53
#N/A N/A
#N/A N/A
#N/A N/A
63
#N/A N/A
50
55
50
57
37
50
50
File Dt
22.03.2013
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
28.02.2013
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
Date
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
9 month
12 month
12 month
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Government
Investment Advisor
Insurance Company
Investment Advisor
Date
26.03.2013
26.03.2013
20.03.2013
19.03.2013
18.03.2013
07.03.2013
01.03.2013
01.03.2013
25.02.2013
12.02.2013
12.02.2013
10.02.2013
07.02.2013
01.02.2013
30.01.2013
30.01.2013
27.01.2013
23.01.2013
23.01.2013
23.01.2013
22.01.2013
22.01.2013
22.01.2013
26.03.2013
Price/Volume
6.0 M
5.0 M
4.0 M
30
12/2012
12/yy
56.68
39.16
401'088.00
56.11
-0.97%
43.28%
98.98%
1'134.4
63'651.84
5'531.30
0.0
8.7
5'684.30
63'507.54
3.0 M
20
2.0 M
10
1.0 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
7.0 M
50
40
Valuation Analysis
31.12.2008
20'371.9
2.47x
6'650.5
7.57x
(2'071.9)
10.02x
60
31.12.2009
31.12.2010
21'836.0
23'076.0
1.98x
1.76x
7'667.8
8'100.4
5.63x
5.01x
4'328.8
5'069.5
8.08x
7.42x
Profitability
LTM-4Q
31.12.2011
24'286.5
1.98x
7'691.5
6.27x
4'347.7
9.53x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
22'603.4
2.49x
6'477.5
8.69x
4'088.6
12.91x
6'477.50
5'015.30
22.19%
23.93%
12.01%
28.89%
20.69%
0.66%
78.8%
28.7%
22.2%
18.1%
1.55
1.08
16.08%
37.46%
6.52
1.94
LTM
12/yy
24'286.5
7.24x
7'691.5
6.27x
4'347.7
9.53x
12/yy
22'603.3
9.16x
6'477.4
8.69x
4'088.5
14.55x
FY+1
3.49
0.70
995.65
13.67
45.41%
14.81%
0.699
24
3.375
776'613
1'247'530
1'257'107
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
23'010.6
19'909.1
5'666.8
5'868.4
2.67x
2.97x
10.92x
10.50x
6'681.5
5'024.7
1'702.0
1'606.0
9.53x
12.67x
10.33x
4'275.8
2'984.4
1'148.6
1'103.3
14.41x
20.07x
14.41x
15.79x
S&P Issuer Ratings
19.08.2010
AASTABLE
27.01.1987
A-1+
32.58
28.03
-0.02
0.85
37.5%
27.2%
0.66
2.91
56.14
188.61
82.36
162.39
Sales/Revenue/Turnover
14.00
30'000.0
12.00
25'000.0
10.00
20'000.0
8.00
15'000.0
6.00
10'000.0
4.00
5'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
LILLY ENDOWMENT INCO
LILLY ENDOWMENT INCO
BLACKROCK
WELLINGTON MANAGEMEN
PRIMECAP MANAGEMENT
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
FMR LLC
STATE FARM MUTUAL AU
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
STATE FARM MUTUAL AU
INVESCO LTD
GOLDMAN SACHS GROUP
CAPITAL GROUP COMPAN
NORGES BANK
AMERIPRISE FINANCIAL
CI INVESTMENTS INC
RENAISSANCE TECHNOLO
Firm Name
Wells Fargo Securities, LLC
Sanford C. Bernstein & Co
Cowen and Company
Jefferies
Barclays
Edward Jones
ISI Group
Credit Suisse
EVA Dimensions
Leerink Swann & Co
Credit Agricole Securities (USA)
Morgan Stanley
BMO Capital Markets
Goldman Sachs
Hilliard Lyons
JPMorgan
MKM Partners
Argus Research Corp
Atlantic Equities LLP
S&P Capital IQ
Cyrrus
First Global Stockbroking
MP Advisors Pvt Ltd
Portfolio Name
LILLY ENDOWMENT INC
n/a
n/a
WELLINGTON MANAGEMEN
PRIMECAP MANAGEMENT
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
STATE FARM MUTUAL AU
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
STATE FARM MUTUAL AU
INVESCO LTD
GOLDMAN SACHS GROUP
n/a
NORGES BANK
AMERIPRISE FINANCIAL
CI INVESTMENTS INC
RENAISSANCE TECHNOLO
Analyst
MICHAEL K TONG
TIMOTHY M ANDERSON
STEVEN R SCALA
JEFFREY HOLFORD
CHARLES ANTHONY BUTLER
JUDSON CLARK
MARK J SCHOENEBAUM
CATHERINE J ARNOLD
ANDREW S ZAMFOTIS
SEAMUS FERNANDEZ
KIM-LINH LINH VUKHAC
DAVID R RISINGER
ALEX ARFAEI
JAMI E RUBIN
STEPHEN A O'NEIL
CHRISTOPHER T SCHOTT
JON LECROY
JOHN M EADE
RICHARD J PURKISS
HERMAN SAFTLAS
TOMAS MENCIK
KAVITA THOMAS
VISHAL MANCHANDA
Source
13F
Research
ULT-AGG
13F
13F
13F
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
Sch-D
13F
13F
ULT-AGG
13F
13F
13F
13F
Recommendation
market perform
outperform
neutral
underperform
equalweight
sell
hold
outperform
buy
outperform
sell
Underwt/In-Line
market perform
neutral/attractive
neutral
neutral
neutral
buy
overweight
hold
accumulate
moderate outperform
market perform
Amt Held
135'670'804
135'670'804
63'874'976
49'889'615
48'617'689
46'862'388
42'364'981
28'798'911
21'081'001
20'063'900
16'701'887
13'797'820
12'436'833
12'205'068
9'729'663
9'200'252
9'140'536
8'482'489
8'401'723
8'108'905
% Out
11.96
11.96
5.63
4.4
4.29
4.13
3.73
2.54
1.86
1.77
1.47
1.22
1.1
1.08
0.86
0.81
0.81
0.75
0.74
0.71
Weighting
Change
3
5
3
1
3
1
3
5
5
5
1
1
3
3
3
3
3
5
5
3
4
4
3
M
M
M
M
M
D
M
M
U
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
2'321'387
300'400
1'236'901
(775'660)
(3'726'028)
2'021'645
180'726
3'429
2'692'255
2'149'044
(3'999'748)
689'057
326'507
(217'400)
(995'500)
Target Price
#N/A N/A
61
#N/A N/A
43
52
#N/A N/A
55
68
#N/A N/A
#N/A N/A
47
48
52
56
#N/A N/A
55
53
60
60
54
45
#N/A N/A
36
File Dt
Inst Type
31.12.2012
Endowment
31.12.2012
Endowment
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Insurance Company
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
30.09.2012
Insurance Company
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Government
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
Date
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
9 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Date
22.03.2013
21.03.2013
15.03.2013
14.03.2013
12.03.2013
28.02.2013
27.02.2013
26.02.2013
25.02.2013
20.02.2013
11.02.2013
07.02.2013
31.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
29.01.2013
29.01.2013
04.01.2013
05.04.2012
29.02.2012
03.05.2011
26.03.2013
EMC Corp/MA
EMC Corporation provides enterprise storage systems, software, networks, and
services. The Company's products store, retrieve, manage, protect, and share
information from all major computing environments and mainframe platforms. EMC
operates offices around the world.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (28.03.2012)
52-Week Low (01.03.2013)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
EMC UN EQUITY YTD Change
EMC UN EQUITY YTD % CHANGE
12/2012
12/yy
30.00
22.76
1'033'648.00
23.72
-20.93%
4.22%
13.54%
2'104.4
49'917.09
3'420.25
0.0
1'166.6
6'167.12
48'336.86
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
14.0 M
30
12.0 M
25
10.0 M
20
8.0 M
15
6.0 M
10
4.0 M
2.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
35
31.12.2009
31.12.2010
14'025.9
17'015.1
2.34x
2.72x
2'594.9
3'935.2
12.63x
11.75x
1'088.1
1'900.0
26.88x
24.11x
Profitability
LTM-4Q
31.12.2011
20'007.6
2.20x
4'961.4
8.85x
2'461.3
18.89x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
21'713.9
2.38x
5'602.2
9.23x
2'732.6
20.08x
5'602.21
4'074.46
18.76%
17.52%
7.53%
13.12%
11.25%
0.60%
62.8%
25.8%
18.8%
12.6%
1.18
0.93
8.98%
15.30%
6.82
7.30
LTM
12/yy
20'007.6
9.77x
4'961.4
8.85x
2'461.3
18.89x
12/yy
21'713.9
9.98x
5'602.2
9.23x
2'732.6
20.08x
FY+1
0.00
1.18
2'092.18
48.98
-19.89%
-6.25%
1.181
45
4.689
3'536'749
3'881'547
4'268'624
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
23'481.8
25'468.2
5'422.7
5'665.6
1.82x
1.52x
7.97x
7.51x
6'981.2
7'564.3
1'624.4
1'723.7
6.93x
6.40x
6.61x
6.57x
4'130.7
4'600.5
864.3
945.4
12.77x
11.50x
12.74x
12.38x
S&P Issuer Ratings
25.06.2012
A
STABLE
71.00
60.62
-0.49
0.61
15.3%
12.7%
0.60
7.26
53.69
50.10
47.43
56.37
Sales/Revenue/Turnover
16.00
25'000.0
14.00
20'000.0
12.00
10.00
15'000.0
8.00
10'000.0
6.00
4.00
5'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
EMC Corp/MA
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
BANK OF NEW YORK MEL
T ROWE PRICE ASSOCIA
CAPITAL GROUP COMPAN
JENNISON ASSOCIATES
WELLINGTON MANAGEMEN
AMERIPRISE FINANCIAL
NORTHERN TRUST CORPO
JANUS CAPITAL MANAGE
JP MORGAN
FMR LLC
LAZARD ASSET MANAGEM
MANNING & NAPIER ADV
SUN LIFE FINANCIAL I
PRIMECAP MANAGEMENT
AMERICAN CENTURY COM
MORGAN STANLEY
Firm Name
JPMorgan
Credit Suisse
Stifel
William Blair & Co
Monness, Crespi, Hardt & Co
Hilliard Lyons
Piper Jaffray
Argus Research Corp
Wells Fargo Securities, LLC
Tigress Financial Partners
BMO Capital Markets
Morgan Stanley
Brean Murray Carret & Co
Edward Jones
Janney Montgomery Scott LLC
Jefferies
Needham & Co
Robert W. Baird & Co
Raymond James
FBR Capital Markets
Sterne, Agee & Leach
Evercore Partners
Lazard Capital Markets
Longbow Research
Credit Agricole Securities (USA)
Topeka Capital Markets Inc
RBC Capital Markets
Pacific Crest Securities
Mizuho Securities USA Inc
ISI Group
Barclays
FBN Securities
Oppenheimer & Co
Craig-Hallum Capital Group LLC
Daiwa Securities Co. Ltd.
Deutsche Bank
Goldman Sachs
Wunderlich Securities
S&P Capital IQ
EVA Dimensions
Sanford C. Bernstein & Co
Wedge Partners
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
T ROWE PRICE ASSOCIA
n/a
JENNISON ASSOCIATES
WELLINGTON MANAGEMEN
AMERIPRISE FINANCIAL
NORTHERN TRUST CORPO
n/a
n/a
n/a
n/a
MANNING & NAPIER ADV
n/a
PRIMECAP MANAGEMENT
AMERICAN CENTURY COM
n/a
Analyst
MARK A MOSKOWITZ
KULBINDER GARCHA
AARON C RAKERS
JASON NOAH ADER
JEFFREY FIDACARO
STEPHEN TURNER
ANDREW J NOWINSKI
JAMES KELLEHER
MAYNARD UM
IVAN FEINSETH
KEITH F BACHMAN
KATHRYN HUBERTY
ANANDA BARUAH
WILLIAM C KREHER
WILLIAM CHOI
PETER J MISEK
GLENN HANUS
JAYSON NOLAND SR
BRIAN G ALEXANDER
DANIEL H IVES
ALEX KURTZ
ROBERT CIHRA
EDWARD PARKER
JOE WITTINE
LOUIS R MISCIOSCIA
BRIAN J WHITE
AMIT DARYANANI
BRENT A BRACELIN
ABHEY R LAMBA
BRIAN MARSHALL
BENJAMIN A REITZES
SHEBLY SEYRAFI
ITTAI KIDRON
RAJESH GHAI
YOKO YAMADA
CHRISTOPHER WHITMORE
WILLIAM C SHOPE JR
BRIAN S FREED
ANGELO ZINO
ANDREW S ZAMFOTIS
TONI SACCONAGHI
KIRK ADAMS
Source
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
13F
ULT-AGG
Recommendation
neutral
outperform
buy
market perform
buy
long-term buy
overweight
buy
outperform
strong buy
outperform
Equalwt/In-Line
buy
buy
buy
buy
buy
outperform
strong buy
outperform
buy
overweight
buy
buy
outperform
buy
outperform
sector perform
buy
buy
overweight
outperform
outperform
hold
outperform
buy
Buy/Neutral
buy
buy
overweight
market perform
no rating system
Amt Held
145'059'432
93'906'507
88'507'842
59'624'462
50'450'635
49'797'589
46'200'090
39'287'693
38'967'872
37'578'664
37'186'977
28'760'389
27'947'645
26'143'923
25'908'932
23'045'892
22'418'594
22'191'549
21'128'294
20'280'493
% Out
6.89
4.46
4.21
2.83
2.4
2.37
2.2
1.87
1.85
1.79
1.77
1.37
1.33
1.24
1.23
1.1
1.07
1.05
1
0.96
Weighting
Change
3
5
5
3
5
5
5
5
5
5
5
3
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
3
5
5
5
5
5
3
5
5
5
5
5
5
3
#N/A N/A
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
Latest Chg
2'355'534
1'296'856
2'176'076
(2'575'764)
(4'000'000)
(7'345'976)
4'734'114
(3'047'485)
888'760
(3'320'820)
2'953'072
366'237
(1'791'598)
469'133
2'959'281
(34'200)
(532'843)
7'124'280
Target Price
26
30
33
#N/A N/A
30
30
29
36
#N/A N/A
#N/A N/A
28
#N/A N/A
30
#N/A N/A
29
32
30
30
30
31
28
31
28
30
28
30
30
#N/A N/A
32
36
31
29
30
28
27
28
28
32
30
#N/A N/A
28
#N/A N/A
File Dt
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
28.02.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
9 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
18 month
12 month
Not Provided
12 month
12 month
18 month
12 month
Not Provided
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
25.03.2013
22.03.2013
22.03.2013
20.03.2013
20.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
14.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
05.03.2013
05.03.2013
04.02.2013
30.01.2013
29.01.2013
29.01.2013
29.01.2013
17.01.2013
19.09.2012
03.05.2012
26.03.2013
Emerson Electric Co
Emerson Electric Co. designs and manufactures electronic and electrical
equipment, software, systems and services for industrial, commercial and
consumer markets worldwide through its network power, process management,
industrial automation, climate technologies and tools & storage divisions.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (19.02.2013)
52-Week Low (12.07.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
EMR UN EQUITY YTD Change
EMR UN EQUITY YTD % CHANGE
09/2012
12/yy
58.66
43.59
541'444.00
55.73
-4.99%
27.85%
81.22%
722.1
40'241.11
5'293.00
0.0
147.0
2'367.00
43'308.11
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
3.5 M
60
3.0 M
50
2.5 M
40
2.0 M
30
1.5 M
20
1.0 M
10
.5 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
70
30.09.2009
30.09.2010
20'102.0
21'039.0
1.66x
2.06x
3'871.0
4'325.0
8.60x
10.00x
1'724.0
2'164.0
15.84x
18.74x
Profitability
LTM-4Q
30.09.2011
24'222.0
1.40x
5'096.0
6.64x
2'480.0
12.75x
30.09.2012
24'412.0
1.56x
5'155.0
7.38x
1'968.0
14.45x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
5'155.00
4'332.00
17.75%
12.76%
8.69%
19.85%
14.09%
1.04%
40.0%
21.4%
18.0%
8.1%
1.42
1.03
22.22%
51.41%
5.74
6.37
LTM
12/yy
23'996.0
6.88x
4'930.0
7.69x
2'371.0
14.79x
12/yy
24'656.0
6.46x
5'269.0
7.85x
2'051.0
15.49x
FY+1
2.89
1.10
717.71
10.83
12.00%
5.97%
1.098
28
3.786
584'108
782'098
803'239
FY+2
FQ+1
FQ+2
09/13 Y
09/14 Y
03/13 Q2 06/13 Q3
25'243.8
26'571.6
6'050.0
6'674.7
1.69x
1.57x
7.24x
6.52x
5'048.1
5'461.2
1'131.8
1'432.0
8.59x
7.94x
8.44x
8.26x
2'612.9
2'886.2
574.7
769.4
15.48x
13.87x
15.02x
14.57x
S&P Issuer Ratings
04.02.2002
A
STABLE
04.02.2002
A-1
23.01
20.04
0.56
1.04
51.4%
33.6%
1.04
7.13
63.80
57.44
58.81
55.99
Sales/Revenue/Turnover
16.00
30'000.0
14.00
25'000.0
12.00
20'000.0
10.00
8.00
15'000.0
6.00
10'000.0
4.00
5'000.0
2.00
0.00
02.10.2009
0.0
02.04.2010
02.10.2010
02.04.2011
02.10.2011
02.04.2012
02.10.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Emerson Electric Co
Holdings By:
All
Holder Name
VANGUARD GROUP INC
BLACKROCK
STATE STREET
JP MORGAN
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
BARROW HANLEY MEWHIN
T ROWE PRICE ASSOCIA
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
BANK OF AMERICA CORP
INVESCO LTD
STATE FARM MUTUAL AU
WELLS FARGO
FMR LLC
NORGES BANK
UBS
US BANCORP
STATE FARM MUTUAL AU
GEODE CAPITAL MANAGE
Firm Name
RBC Capital Markets
Sanford C. Bernstein & Co
Wells Fargo Securities, LLC
Deutsche Bank
Goldman Sachs
Robert W. Baird & Co
FBR Capital Markets
Longbow Research
Cowen and Company
Edward Jones
Credit Suisse
Janney Montgomery Scott LLC
Nomura
Langenberg & Co
Barclays
Morgan Stanley
William Blair & Co
Oppenheimer & Co
Argus Research Corp
JPMorgan
Atlantic Equities LLP
Macquarie
MKM Partners
EVA Dimensions
Portfolio Name
VANGUARD GROUP INC
n/a
n/a
n/a
Multiple Portfolios
n/a
BARROW HANLEY MEWHIN
T ROWE PRICE ASSOCIA
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
BANK OF AMERICA
INVESCO LTD
STATE FARM MUTUAL AU
n/a
n/a
NORGES BANK
n/a
US BANCORP
STATE FARM MUTUAL AU
GEODE CAPITAL MANAGE
Analyst
JAMIE SULLIVAN
STEVEN E WINOKER
RICHARD M KWAS
JOHN G INCH
JOSEPH RITCHIE
MICHAEL HALLORAN
AJAY K KEJRIWAL
ELI S LUSTGARTEN
GAUTAM KHANNA
CHRISTIAN MAYES
JULIAN MITCHELL
JOHN A BALIOTTI II
SHANNON O'CALLAGHAN
BRIAN KEITH LANGENBERG
SCOTT R DAVIS
NIGEL COE
NICHOLAS P HEYMANN
CHRISTOPHER D GLYNN
NATHANIEL GABRIEL
CHARLES STEPHEN TUSA
RICHARD RADBOURNE
MICHAEL R WOOD
JOSHUA C POKRZYWINSKI
CRAIG STERLING
Source
13F
ULT-AGG
ULT-AGG
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
Sch-D
13F
Recommendation
outperform
outperform
outperform
buy
neutral/neutral
outperform
market perform
neutral
neutral
hold
outperform
neutral
buy
hold
equalweight
Equalwt/In-Line
market perform
market perform
hold
neutral
overweight
neutral
neutral
buy
Amt Held
37'740'401
37'123'952
33'161'610
26'632'642
26'107'723
24'382'787
15'550'431
14'914'755
14'243'037
11'131'417
9'848'611
9'715'091
8'024'040
7'984'948
6'671'473
5'868'203
5'483'804
5'405'831
4'824'006
4'782'125
% Out
5.23
5.14
4.59
3.69
3.62
3.38
2.15
2.07
1.97
1.54
1.36
1.35
1.11
1.11
0.92
0.81
0.76
0.75
0.67
0.66
Weighting
Change
5
5
5
5
3
5
3
3
3
3
5
3
5
3
3
3
3
3
3
3
5
3
3
5
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
Latest Chg
695'149
1'285'398
3'661'951
(6'154'354)
3'161'686
(2'017'167)
1'571'839
(203'081)
(870'006)
(851'325)
324'800
(442)
(156'853)
494'983
56'205
(308'607)
1'978
(458'894)
Target Price
70
68
#N/A N/A
69
62
68
60
#N/A N/A
#N/A N/A
#N/A N/A
60
55
65
60
56
62
59
63
#N/A N/A
51
67
56
56
#N/A N/A
File Dt
31.12.2012
22.03.2013
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
30.09.2012
31.12.2012
Date
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
9 month
12 month
12 month
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Unclassified
Investment Advisor
Government
Unclassified
Investment Advisor
Insurance Company
Investment Advisor
Date
26.03.2013
26.03.2013
26.03.2013
25.03.2013
20.03.2013
19.03.2013
18.03.2013
15.03.2013
06.03.2013
23.02.2013
21.02.2013
21.02.2013
21.02.2013
15.02.2013
15.02.2013
13.02.2013
13.02.2013
13.02.2013
12.02.2013
12.02.2013
12.02.2013
06.02.2013
06.02.2013
06.02.2013
26.03.2013
Exelon Corp
Exelon Corporation is a utility services holding company. The Company, through
its subsidiaries distributes electricity to customers in Illinois and
Pennsylvania. Exelon also distributes gas to customers in the Philadelphia area
as well as operates nuclear power plants in states that include Pennsylvania and
New Jersey.
Price/Volume
6.0 M
30
5.0 M
4.0 M
20
12/2012
12/yy
39.75
28.40
259'899.00
33.79
-14.99%
18.98%
45.02%
855.6
28'909.33
19'603.00
280.0
106.0
1'486.00
47'412.33
3.0 M
15
10
2.0 M
1.0 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
7.0 M
35
25
Valuation Analysis
31.12.2008
18'859.0
2.57x
7'607.0
6.38x
2'737.0
13.24x
40
31.12.2009
31.12.2010
17'318.0
18'644.0
2.48x
2.08x
7'351.0
7'669.0
5.84x
5.07x
2'707.0
2'563.0
11.86x
10.26x
Profitability
LTM-4Q
31.12.2011
19'063.0
2.16x
6'784.0
6.08x
2'495.0
10.43x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
23'489.0
1.87x
6'550.0
6.71x
1'160.0
10.44x
6'550.00
2'471.00
10.52%
7.65%
1.74%
6.48%
5.12%
0.35%
56.8%
27.9%
10.5%
4.9%
1.30
0.75
24.95%
91.47%
6.87
10.82
LTM
12/yy
19'064.0
8.65x
6'783.0
6.08x
2'495.0
10.43x
12/yy
23'489.0
8.30x
6'550.0
6.71x
1'160.0
11.66x
FY+1
6.21
0.63
854.22
15.20
-8.17%
15.56%
0.633
26
3.308
1'403'120
1'525'943
1'462'401
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
25'517.9
25'375.7
5'206.7
6'611.8
1.83x
1.87x
8.97x
7.17x
6'258.9
6'129.9
1'990.0
1'728.0
7.58x
7.74x
6.56x
6.61x
2'134.7
1'992.0
612.5
485.0
13.58x
14.68x
13.57x
13.66x
S&P Issuer Ratings
22.07.2009
BBB
STABLE
22.07.2009
A-2
7.06
0.59
2.75
2.99
91.5%
47.3%
0.35
53.28
33.84
72.66
14.46
Sales/Revenue/Turnover
9.00
25'000.0
8.00
20'000.0
7.00
6.00
15'000.0
5.00
4.00
10'000.0
3.00
5'000.0
2.00
1.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Exelon Corp
Holdings By:
All
Holder Name
STATE STREET
CAPITAL GROUP COMPAN
FRANKLIN RESOURCES
BLACKROCK
VANGUARD GROUP INC
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
JP MORGAN
NORTHERN TRUST CORPO
HOTCHKIS & WILEY CAP
BANK OF NEW YORK MEL
DEUTSCHE BANK AG
INVESCO LTD
GEODE CAPITAL MANAGE
PERKINS INVESTMENT M
TIAA CREF INVESTMENT
NORGES BANK
MORGAN STANLEY
LEGAL & GENERAL
Firm Name
Macquarie
Wolfe Trahan & Co
Sanford C. Bernstein & Co
Credit Suisse
Edward Jones
Wells Fargo Securities, LLC
SunTrust Robinson Humphrey
Drexel Hamilton LLC
Argus Research Corp
RBC Capital Markets
JPMorgan
Jefferies
Wunderlich Securities
BGC Partners
ISI Group
Barclays
EVA Dimensions
BMO Capital Markets
Atlantic Equities LLP
Morgan Stanley
KeyBanc Capital Markets
Tudor Pickering & Co
Deutsche Bank
Goldman Sachs
Portfolio Name
n/a
n/a
n/a
n/a
VANGUARD GROUP INC
Multiple Portfolios
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
n/a
NORTHERN TRUST CORPO
HOTCHKIS AND WILEY
BANK OF NEW YORK MEL
DEUTSCHE BANK AKTIEN
INVESCO LTD
GEODE CAPITAL MANAGE
PERKINS INVESTMENT M
TIAA-CREF INVESTMENT
NORGES BANK
n/a
n/a
Analyst
ANGIE STOROZYNSKI
STEVEN I FLEISHMAN
HUGH WYNNE
DANIEL EGGERS
ANDREW PUSATERI
NEIL A KALTON
ALI AGHA
ANDREW L SMITH
GARY F HOVIS
SHELBY G TUCKER
CHRISTOPHER TURNURE
PAUL B FREMONT
JAMES L DOBSON
KIT KONOLIGE
GREG GORDON
DANIEL F FORD
AUSTIN BURKETT
MICHAEL S WORMS
NATHAN JUDGE
STEPHEN C BYRD
PAUL T RIDZON
NEEL MITRA
JONATHAN ARNOLD
MICHAEL J LAPIDES
Source
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
13F
MF-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
Recommendation
neutral
peerperform
market perform
neutral
hold
market perform
neutral
hold
hold
outperform
neutral
hold
buy
hold
buy
equalweight
sell
market perform
neutral
Overwt/In-Line
hold
hold
buy
neutral/neutral
Amt Held
52'956'323
49'357'020
46'728'304
45'657'522
38'984'565
25'386'394
24'169'976
16'065'029
11'754'070
11'209'327
11'040'768
10'361'792
6'583'265
6'057'741
5'620'271
4'138'375
4'086'412
4'026'187
3'921'720
3'870'799
% Out
6.19
5.77
5.46
5.34
4.56
2.97
2.83
1.88
1.37
1.31
1.29
1.21
0.77
0.71
0.66
0.48
0.48
0.47
0.46
0.45
Weighting
Change
3
3
3
3
3
3
3
3
3
5
3
3
5
3
5
3
1
3
3
5
3
3
5
3
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
D
M
M
M
M
M
U
M
Latest Chg
7'028
4'099'300
7'543'219
1'025'175
278'125
2'696'115
9'857'193
172'294
122'542
599'917
896'323
(2'041'265)
(513'854)
(550'549)
79'324
2'608'943
875'462
115'284
Target Price
33
33
32
33
#N/A N/A
#N/A N/A
#N/A N/A
31
#N/A N/A
34
34
32
37
#N/A N/A
35
32
#N/A N/A
32
29
39
#N/A N/A
32
34
32
File Dt
25.03.2013
31.12.2012
31.12.2012
22.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
9 month
12 month
18 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Unclassified
Date
25.03.2013
25.03.2013
11.03.2013
07.03.2013
06.03.2013
04.03.2013
01.03.2013
20.02.2013
13.02.2013
08.02.2013
08.02.2013
08.02.2013
08.02.2013
08.02.2013
08.02.2013
08.02.2013
08.02.2013
07.02.2013
07.02.2013
01.02.2013
22.01.2013
09.01.2013
26.11.2012
21.11.2012
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (19.10.2012)
52-Week Low (05.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
XOM UN EQUITY YTD Change
XOM UN EQUITY YTD % CHANGE
12/2012
12/yy
93.60
77.13
959'852.00
90.06
-3.78%
16.76%
72.19%
4'480.5
403'509.28
11'581.00
0.0
5'797.0
9'582.00
411'305.28
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
25.0 M
20.0 M
15.0 M
10.0 M
5.0 M
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
100
90
80
70
60
50
40
30
20
10
0
m-12
31.12.2009
31.12.2010
275'564.0
341'578.0
1.18x
1.10x
38'156.0
54'882.0
8.54x
6.87x
19'280.0
30'460.0
17.01x
11.76x
Profitability
LTM-4Q
31.12.2011
433'526.0
0.95x
69'687.0
5.91x
41'060.0
10.07x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
420'714.0
0.94x
65'769.0
6.04x
44'880.0
11.45x
65'769.00
49'881.00
11.86%
18.71%
13.50%
28.03%
26.52%
1.28%
15.6%
15.8%
12.1%
10.7%
1.01
0.69
3.47%
6.98%
11.58
24.02
LTM
FY+1
2.42
0.99
4'469.54
35.38
6.23%
4.73%
0.993
29
3.759
3'148'456
3'915'583
3'932'984
FY+2
FQ+1
FQ+2
12/yy
12/yy
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
433'526.0 426'252.0 435'718.8 444'541.0 114'045.8 110'504.8
3.70x
3.82x
0.96x
0.95x
3.64x
3.77x
69'687.0
67'270.0
81'318.3
82'738.0
18'690.6
16'479.2
5.91x
5.91x
5.06x
4.97x
5.69x
5.43x
41'060.0
44'880.0
35'040.6
36'480.1
8'847.9
8'531.6
10.07x
10.97x
11.34x
10.77x
11.30x
11.12x
S&P Issuer Ratings
Long-Term Rating Date
16.12.1985
Long-Term Rating
AAA
Long-Term Outlook
STABLE
Short-Term Rating Date
16.12.1985
Short-Term Rating
A-1+
Credit Ratios
EBITDA/Interest Exp.
78.95
(EBITDA-Capex)/Interest Exp.
37.81
Net Debt/EBITDA
0.03
Total Debt/EBITDA
0.17
Reference
Total Debt/Equity
7.0%
Total Debt/Capital
6.3%
Asset Turnover
1.28
Net Fixed Asset Turnover
1.93
Accounts receivable turnover-days
31.61
Inventory Days
15.24
Accounts Payable Turnover Day
34.96
Cash Conversion Cycle
12.30
Sales/Revenue/Turnover
12.00
500'000.0
450'000.0
10.00
400'000.0
350'000.0
8.00
300'000.0
6.00
250'000.0
200'000.0
4.00
150'000.0
100'000.0
2.00
0.00
01.01.2010
50'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
WELLINGTON MANAGEMEN
FMR LLC
JP MORGAN
BANK OF AMERICA CORP
STATE FARM MUTUAL AU
T ROWE PRICE ASSOCIA
NORGES BANK
GEODE CAPITAL MANAGE
GOLDMAN SACHS GROUP
TIAA CREF INVESTMENT
STATE FARM MUTUAL AU
UBS
FAYEZ SAROFIM
LEGAL & GENERAL
Firm Name
Raymond James
Cowen Securities LLC
Tudor Pickering & Co
ISI Group
Argus Research Corp
Oppenheimer & Co
Societe Generale
Morgan Stanley
Credit Suisse
Howard Weil Inc
JPMorgan
Macquarie
Independent Research GmbH
Canaccord Genuity Corp
Barclays
Edward Jones
Jefferies
VTB Capital
Simmons & Company International
S&P Capital IQ
EVA Dimensions
Goldman Sachs
Deutsche Bank
Phoenix Partners Group
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
WELLINGTON MANAGEMEN
n/a
n/a
BANK OF AMERICA
STATE FARM MUTUAL AU
T ROWE PRICE ASSOCIA
NORGES BANK
GEODE CAPITAL MANAGE
GOLDMAN SACHS GROUP
TIAA-CREF INVESTMENT
STATE FARM MUTUAL AU
n/a
FAYEZ SAROFIM
n/a
Analyst
PAVEL MOLCHANOV
ASIT SEN
ROBERT KESSLER
DOUGLAS T TERRESON
PHILIP H WEISS
FADEL GHEIT
JOHN HERRLIN
J EVAN CALIO
EDWARD WESTLAKE
BLAKE FERNANDEZ
KATHERINE LUCAS MINYARD
JASON D GAMMEL
SVEN DIERMEIER
GORDON GRAY
PAUL Y CHENG
BRIAN YOUNGBERG
IAIN REID
COLIN SMITH
JEFFREY A DIETERT
MICHAEL KAY
CRAIG STERLING
ARJUN N MURTI
PAUL SANKEY
CHRIS KETTENMANN
Source
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
Sch-D
ULT-AGG
13F
ULT-AGG
Recommendation
outperform
buy
hold
buy
hold
outperform
buy
Equalwt/Attractive
neutral
sector perform
neutral
neutral
hold
hold
equalweight
hold
hold
hold
overweight
strong buy
buy
neutral/attractive
hold
hold
Amt Held
249'252'886
214'431'789
191'510'091
136'107'252
73'336'300
68'501'396
61'732'474
56'507'048
48'959'055
43'177'050
37'062'400
36'485'931
36'257'449
30'181'103
24'684'328
23'519'845
21'414'352
20'976'359
20'676'316
20'348'094
% Out
5.56
4.79
4.27
3.04
1.64
1.53
1.38
1.26
1.09
0.96
0.83
0.81
0.81
0.67
0.55
0.52
0.48
0.47
0.46
0.45
Weighting
Change
5
5
3
5
3
5
5
3
3
3
3
3
3
3
3
3
3
3
5
5
5
3
3
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
N
Latest Chg
3'172'441
3'009'359
1'561'338
1'694'013
28'110
(2'806'001)
3'762'110
(790'504)
(645'464)
265'582
70'734
(3'238'014)
348'093
33'132
(16'829)
(1'258'002)
(778'742)
(225'351)
Target Price
96
100
84
95
#N/A N/A
100
103
90
90
97
96
99
93
95
93
#N/A N/A
85
90
#N/A N/A
104
#N/A N/A
97
96
77
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
30.09.2012
31.01.2013
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
12 month
Not Provided
18 month
12 month
12 month
Not Provided
12 month
9 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Insurance Company
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Unclassified
Investment Advisor
Unclassified
Date
26.03.2013
26.03.2013
25.03.2013
20.03.2013
08.03.2013
08.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
06.03.2013
06.03.2013
01.03.2013
15.02.2013
01.02.2013
15.01.2013
13.12.2012
10.10.2012
24.07.2012
26.03.2013
FedEx Corp
FedEx Corp. delivers packages and freight to multiple countries and
territories through an integrated global network. The Company provides
worldwide express delivery, ground small-parcel delivery, less-than-truckload
freight delivery, supply chain management services, customs brokerage services,
and trade facilitation and electronic commerce solutions.
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (11.03.2013)
52-Week Low (05.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 19.03.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
FDX UN EQUITY YTD Change
FDX UN EQUITY YTD % CHANGE
Price/Volume
05/2012
02/yy
109.66
83.80
294'170.00
97.75
-10.86%
16.65%
51.12%
316.9
30'973.94
1'667.00
0.0
0.0
2'843.00
29'843.94
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
3.0 M
100
2.5 M
80
2.0 M
60
1.5 M
40
1.0 M
20
.5 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
120
31.05.2009
31.05.2010
35'497.0
34'734.0
0.50x
0.75x
3'926.0
3'974.0
4.48x
6.59x
98.0
1'184.0
19.66x
21.97x
Profitability
LTM-4Q
31.05.2011
39'304.0
0.74x
4'440.0
6.54x
1'452.0
19.11x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.05.2012
42'680.0
0.63x
5'433.0
4.98x
2'032.0
13.53x
5'433.00
3'320.00
7.78%
7.36%
5.97%
11.06%
10.14%
1.45%
20.4%
12.3%
7.0%
4.8%
1.69
1.40
5.57%
11.32%
9.15
76.15
LTM
02/yy
42'224.0
2.56x
5'288.0
5.32x
2'040.0
14.22x
02/yy
43'860.0
2.62x
5'393.0
5.99x
1'808.0
17.09x
FY+1
0.57
1.02
296.18
5.66
6.02%
6.71%
1.017
32
4.250
1'294'195
558'823
510'328
FY+2
FQ+1
FQ+2
05/13 Y
05/14 Y
05/13 Q4 08/13 Q1
44'293.0
46'686.3
11'496.8
11'127.3
0.67x
0.62x
2.57x
2.66x
5'454.1
6'409.7
1'638.2
1'461.3
5.47x
4.66x
4.77x
4.61x
1'920.1
2'411.6
615.1
518.7
16.03x
12.88x
13.58x
12.97x
S&P Issuer Ratings
11.02.2004
BBB
STABLE
11.02.2004
A-2
39.66
10.41
-0.21
0.42
11.3%
10.2%
1.45
2.49
39.88
4.79
18.05
26.68
Sales/Revenue/Turnover
14.00
45'000.0
12.00
40'000.0
35'000.0
10.00
30'000.0
8.00
25'000.0
6.00
20'000.0
15'000.0
4.00
10'000.0
2.00
0.00
05.06.2009
5'000.0
0.0
05.12.2009
05.06.2010
05.12.2010
05.06.2011
05.12.2011
05.06.2012
05.12.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
FedEx Corp
Holdings By:
All
Holder Name
PRIMECAP MANAGEMENT
SMITH FREDERICK WALL
DODGE & COX
SOUTHEASTERN ASSET M
BLACKROCK
WELLINGTON MANAGEMEN
VANGUARD GROUP INC
HARRIS ASSOCIATES LP
STATE STREET
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
BANK OF NEW YORK MEL
GREENHAVEN ASSOCIATE
FRANKLIN RESOURCES
NORTHERN TRUST CORPO
CAPITAL GROUP COMPAN
FMR LLC
GATES FOUNDATION
NEUBERGER BERMAN LLC
TIAA CREF INVESTMENT
Firm Name
Sanford C. Bernstein & Co
Macquarie
Atlantic Equities LLP
Deutsche Bank
Argus Research Corp
Credit Suisse
JPMorgan
Jefferies
Robert W. Baird & Co
Sterne, Agee & Leach
Oppenheimer & Co
BB&T Capital Markets
Cowen Securities LLC
Barclays
EVA Dimensions
Wolfe Trahan & Co
Morgan Stanley
RBC Capital Markets
Edward Jones
William Blair & Co
Raymond James
Stifel
Avondale Partners LLC
Wells Fargo Securities, LLC
S&P Capital IQ
Nomura
Thompson, Davis & Company
Goldman Sachs
Jyske Bank
Portfolio Name
PRIMECAP MANAGEMENT
n/a
DODGE & COX
SOUTHEASTERN ASSET M
n/a
WELLINGTON MANAGEMEN
VANGUARD GROUP INC
HARRIS ASSOC LP
n/a
Multiple Portfolios
T ROWE PRICE ASSOCIA
BANK OF NEW YORK MEL
GREENHAVEN ASSOCIATE
n/a
NORTHERN TRUST CORPO
n/a
n/a
BILL & MELINDA FOUND
NEUBERGER BERMAN GRO
TIAA-CREF INVESTMENT
Analyst
DAVID VERNON
KELLY A DOUGHERTY
RORRIE MARS
JUSTIN B YAGERMAN
NATHANIEL GABRIEL
CHRISTOPHER J CERASO
THOMAS R WADEWITZ
H PETER NESVOLD
BENJAMIN J HARTFORD
JEFFREY A KAUFFMAN
SCOTT A SCHNEEBERGER
KEVIN W STERLING
HELANE R BECKER
BRANDON OGLENSKI
CRAIG STERLING
SCOTT H GROUP
WILLIAM J GREENE
JOHN L BARNES III
LOGAN PURK
NATHAN J BROCHMANN
ARTHUR W HATFIELD
DAVID G ROSS
DONALD BROUGHTON
ANTHONY P GALLO
JAMES CORRIDORE
MARK MCVICAR
DAVID P CAMPBELL
TOM KIM
ROBERT JAKOBSEN
Source
13F
Form 4
13F
13F
ULT-AGG
13F
13F
13F
ULT-AGG
MF-AGG
13F
13F
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
13F
13F
Recommendation
market perform
outperform
neutral
buy
buy
neutral
overweight
hold
outperform
buy
outperform
hold
buy
overweight
hold
outperform
Overwt/Attractive
sector perform
buy
outperform
outperform
buy
market perform
market perform
strong buy
neutral
buy
buy/attractive
sell
Amt Held
20'106'485
19'700'471
17'927'289
16'295'086
14'104'631
13'186'892
13'087'419
13'014'034
11'854'914
8'233'428
7'700'507
5'762'364
4'514'239
4'246'738
3'911'036
3'648'632
3'128'686
3'024'999
2'888'618
2'720'292
% Out
6.35
6.22
5.66
5.14
4.45
4.16
4.13
4.11
3.74
2.6
2.43
1.82
1.42
1.34
1.23
1.15
0.99
0.95
0.91
0.86
Weighting
Change
3
5
3
5
5
3
5
3
5
5
5
3
5
5
3
5
5
3
5
5
5
5
3
3
5
3
5
5
1
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
M
M
M
M
M
M
M
M
M
D
Latest Chg
(52'150)
(108'555)
(279'800)
(423'995)
(194'498)
(61'196)
309'727
243'959
403'454
(1'806'730)
(90'583)
(82'687)
(158'990)
5'891
47'258
2'737'837
(294'348)
163'544
Target Price
100
119
108
127
115
97
121
100
112
115
124
#N/A N/A
117
120
#N/A N/A
125
119
100
#N/A N/A
#N/A N/A
114
117
105
#N/A N/A
129
105
123
115
103
File Dt
31.12.2012
26.12.2012
31.12.2012
31.12.2012
22.03.2013
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
12 month
Not Provided
Not Provided
9 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Inst Type
Investment Advisor
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Endowment
Investment Advisor
Investment Advisor
Date
22.03.2013
22.03.2013
22.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
19.03.2013
05.03.2013
11.02.2013
29.01.2013
26.03.2013
Ford Motor Co
Ford Motor Company designs, manufactures, and services cars and trucks. The
Company also provides vehicle-related financing, leasing, and insurance through
its subsidiary.
Price/Volume
16
35.0 M
14
30.0 M
12
25.0 M
10
12/2012
12/yy
14.30
8.82
1'306'586.00
13.279
-7.14%
50.56%
81.57%
3'851.4
51'143.45
14'300.00
0.0
364.0
24'425.00
41'382.45
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
15.0 M
6
4
10.0 M
5.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
20.0 M
Valuation Analysis
31.12.2009
31.12.2010
116'283.0
128'954.0
0.36x
0.48x
6'438.0
15'383.0
6.54x
4.03x
2'717.0
6'561.0
111.11x
8.65x
Profitability
LTM-4Q
31.12.2011
136'264.0
0.23x
13'629.0
2.34x
20'213.0
7.13x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
134'252.0
0.31x
12'513.0
3.30x
5'665.0
9.25x
12'513.00
6'291.00
4.69%
5.75%
3.05%
36.58%
5.27%
0.72%
13.8%
10.0%
5.3%
4.2%
1.98
1.17
54.61%
658.79%
28.03
17.45
LTM
FY+1
1.51
1.27
3'822.95
53.20
8.73%
3.28%
1.268
26
3.846
4'550'498
5'797'617
8'489'232
FY+2
FQ+1
FQ+2
12/yy
12/yy
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
136'264.0 134'252.0 134'614.7 141'475.3
33'758.5
33'742.4
1.15x
1.01x
0.30x
0.27x
1.24x
1.28x
13'629.0
13'404.0
11'013.8
12'542.0
3'239.5
2'948.3
2.29x
3.08x
3.76x
3.30x
3.51x
3.41x
20'213.0
5'665.0
5'608.4
6'696.3
1'627.0
1'428.0
6.64x
9.89x
9.46x
7.89x
9.42x
8.78x
S&P Issuer Ratings
Long-Term Rating Date
21.10.2011
Long-Term Rating
BB+
Long-Term Outlook
POS
Short-Term Rating Date
10.06.2008
Short-Term Rating
NR
Credit Ratios
EBITDA/Interest Exp.
17.45
(EBITDA-Capex)/Interest Exp.
9.80
Net Debt/EBITDA
-0.76
Total Debt/EBITDA
1.07
Reference
Total Debt/Equity
658.8%
Total Debt/Capital
86.6%
Asset Turnover
0.72
Net Fixed Asset Turnover
5.71
Accounts receivable turnover-days
13.06
Inventory Days
20.98
Accounts Payable Turnover Day
56.43
Cash Conversion Cycle
-22.39
Sales/Revenue/Turnover
7.00
200'000.0
180'000.0
6.00
160'000.0
5.00
140'000.0
120'000.0
4.00
100'000.0
80'000.0
3.00
60'000.0
2.00
40'000.0
1.00
0.00
01.01.2010
20'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Ford Motor Co
Holdings By:
All
Holder Name
EVERCORE TRUST COMPA
BLACKROCK
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
STATE STREET
VANGUARD GROUP INC
NORTHERN TRUST CORPO
CAPITAL GROUP COMPAN
BANK OF NEW YORK MEL
OPPENHEIMERFUNDS INC
FMR LLC
ALLIANCE BERNSTEIN
TIAA CREF INVESTMENT
NORGES BANK
GEODE CAPITAL MANAGE
AMERIPRISE FINANCIAL
JP MORGAN
T ROWE PRICE ASSOCIA
LORD ABBETT & CO LLC
LEGAL & GENERAL
Firm Name
Sterne, Agee & Leach
Wolfe Trahan & Co
Jefferies
Credit Agricole Securities (USA)
Tigress Financial Partners
RBC Capital Markets
Edward Jones
Guggenheim Securities LLC
Daiwa Securities Co. Ltd.
Argus Research Corp
Stifel
Morgan Stanley
Credit Suisse
JPMorgan
Buckingham Research Group
Craig-Hallum Capital Group LLC
Barclays
S&P Capital IQ
Deutsche Bank
EVA Dimensions
Goldman Sachs
KeyBanc Capital Markets
CRT Capital Group
Portfolio Name
EVERCORE TRUST COMPA
n/a
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
n/a
Multiple Portfolios
NORTHERN TRUST CORPO
n/a
BANK OF NEW YORK MEL
OPPENHEIMER FUNDS IN
n/a
n/a
TIAA-CREF INVESTMENT
NORGES BANK
GEODE CAPITAL MANAGE
AMERIPRISE FINANCIAL
n/a
T ROWE PRICE ASSOCIA
LORD ABBETT & CO LLC
n/a
Analyst
MICHAEL P WARD
TIMOTHY J DENOYER
H PETER NESVOLD
EMMANUEL ROSNER
IVAN FEINSETH
JOSEPH SPAK
CHRISTIAN MAYES
MATTHEW STOVER
TAKUO KATAYAMA
WILLIAM V SELESKY
JAMES J ALBERTINE
ADAM JONAS
CHRISTOPHER J CERASO
RYAN BRINKMAN
JOSEPH C AMATURO
STEVEN L. DYER
BRIAN A JOHNSON
EFRAIM LEVY
ROD LACHE
CRAIG STERLING
PATRICK ARCHAMBAULT
BRETT D HOSELTON
KIRK LUDTKE
Source
13F
ULT-AGG
13F
13F
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
Recommendation
buy
peerperform
buy
underperform
buy
outperform
hold
neutral
neutral
buy
hold
Overwt/In-Line
neutral
overweight
underperform
hold
equalweight
buy
hold
buy
buy/attractive
hold
Fairly Valued
Amt Held
253'467'529
192'681'999
159'154'214
145'150'035
142'539'769
98'078'962
47'409'620
47'153'420
40'757'668
40'728'175
32'627'640
32'391'079
31'915'843
29'655'538
25'299'010
24'618'432
23'006'496
21'760'957
18'891'909
18'169'677
% Out
6.58
5
4.13
3.77
3.7
2.55
1.23
1.22
1.06
1.06
0.85
0.84
0.83
0.77
0.66
0.64
0.6
0.57
0.49
0.47
Weighting
Change
5
3
5
1
5
5
3
3
3
5
3
5
3
5
1
3
3
5
3
5
5
3
3
M
M
M
M
N
M
M
M
D
M
M
M
M
M
M
D
M
M
D
M
M
M
M
Latest Chg
(8'395'514)
5'539'888
30'923'869
3'887'846
698'720
(1'400)
(113'746)
2'745'659
12'406'374
16'194'051
5'499'929
2'675'285
(2'128'139)
3'804'420
3'574'044
2'872'280
(438'567)
752'101
Target Price
17
#N/A N/A
16
14
#N/A N/A
15
#N/A N/A
12
13
19
#N/A N/A
17
14
15
11
14
15
13
15
#N/A N/A
17
#N/A N/A
17
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
9 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
6 month
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Unclassified
Date
25.03.2013
24.03.2013
18.03.2013
08.03.2013
08.03.2013
28.02.2013
23.02.2013
19.02.2013
06.02.2013
05.02.2013
04.02.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
30.01.2013
29.01.2013
23.01.2013
15.01.2013
10.01.2013
04.12.2012
31.10.2012
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (14.09.2012)
52-Week Low (06.12.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 15.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
FCX UN EQUITY YTD Change
FCX UN EQUITY YTD % CHANGE
12/2012
12/yy
43.65
30.55
446'894.00
32.48
-25.59%
6.32%
15.57%
949.5
30'840.75
3'527.00
0.0
3'768.0
3'705.00
34'430.75
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
18.0 M
40
16.0 M
35
14.0 M
30
12.0 M
25
10.0 M
20
8.0 M
15
6.0 M
10
4.0 M
2.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
45
31.12.2009
31.12.2010
15'040.0
18'982.0
2.84x
3.15x
7'736.0
10'196.0
5.52x
5.87x
2'749.0
4'336.0
13.27x
12.98x
Profitability
LTM-4Q
31.12.2011
20'880.0
1.75x
10'162.0
3.59x
4'560.0
7.62x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
18'010.0
2.00x
6'934.0
5.20x
3'041.0
10.46x
6'934.00
5'755.00
31.95%
30.48%
9.01%
18.33%
17.54%
0.53%
35.8%
38.5%
32.0%
16.9%
3.08
1.39
9.95%
20.10%
19.80
2.74
LTM
12/yy
20'880.0
8.33x
10'162.0
3.59x
4'560.0
7.49x
12/yy
18'010.0
8.33x
6'934.0
5.20x
3'041.0
10.75x
FY+1
3.85
1.54
940.97
38.41
-13.50%
-4.18%
1.543
21
4.143
1'949'579
2'275'280
2'319'928
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
22'570.6
23'669.3
4'780.7
5'515.6
1.87x
1.74x
7.24x
6.31x
10'300.6
10'918.5
1'912.1
2'439.3
3.35x
3.16x
3.35x
3.05x
4'184.4
4'440.8
752.4
982.6
7.49x
7.18x
7.36x
6.85x
S&P Issuer Ratings
29.07.2011
BBB
NEG
25.97
12.88
-0.03
0.51
20.1%
14.2%
0.53
0.91
18.48
133.68
68.26
83.90
Sales/Revenue/Turnover
14.00
25'000.0
12.00
20'000.0
10.00
15'000.0
8.00
6.00
10'000.0
4.00
5'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
STATE STREET
VANGUARD GROUP INC
VANGUARD GROUP INC
NORTHERN CROSS LLC
JP MORGAN
HARBOR CAPITAL ADVIS
ALLIANZ ASSET MANAGE
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
DEUTSCHE BANK AG
GOLDMAN SACHS GROUP
SUSQUEHANNA INTERNAT
BARCLAYS PLC
BANK OF AMERICA CORP
PAULSON & CO
MORGAN STANLEY
FMR LLC
CAPITAL GROUP COMPAN
CITIGROUP INCORPORAT
Firm Name
Morgan Stanley
Goldman Sachs
Macquarie
Argus Research Corp
RBC Capital Markets
BMO Capital Markets
Canaccord Genuity Corp
BB&T Capital Markets
CRT Capital Group
Nomura
Cowen Securities LLC
EVA Dimensions
S&P Capital IQ
Credit Agricole Securities (USA)
Jefferies
Deutsche Bank
Tigress Financial Partners
Hamburger Sparkasse
Stifel
Credit Suisse
JPMorgan
Barclays
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
Multiple Portfolios
NORTHERN CROSS LLC
n/a
Multiple Portfolios
n/a
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
DEUTSCHE BANK AKTIEN
GOLDMAN SACHS GROUP
SUSQUEHANNA INTERNAT
n/a
BANK OF AMERICA
PAULSON & CO
n/a
n/a
n/a
CITIGROUP INCORPORAT
Analyst
PARETOSH MISRA
SAL THARANI
ALDO J MAZZAFERRO JR
WILLIAM V SELESKY
FRASER PHILLIPS
TONY ROBSON
GARY LAMPARD
GARRETT S. NELSON
KUNI M CHEN
CURTIS WOODWORTH
ANTHONY B RIZZUTO JR
CRAIG STERLING
LEO LARKIN
DAVID A LIPSCHITZ
PETER D WARD
JORGE M BERISTAIN
IVAN FEINSETH
INGO SCHMIDT
PAUL A MASSOUD
RICHARD GARCHITORENA
MICHAEL F GAMBARDELLA
DAVID GAGLIANO
Source
ULT-AGG
ULT-AGG
13F
MF-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
ULT-AGG
ULT-AGG
13F
Recommendation
Overwt/In-Line
Buy/Neutral
neutral
buy
sector perform
market perform
suspended coverage
buy
Fairly Valued
neutral
buy
overweight
sell
outperform
restricted
buy
strong buy
hold
buy
restricted
restricted
suspended coverage
Amt Held
84'022'739
43'076'321
42'234'673
26'926'242
22'073'413
20'975'066
20'100'711
17'824'702
14'829'852
14'011'243
12'266'280
11'507'752
9'882'071
9'694'489
9'435'612
9'000'000
7'602'014
7'199'028
6'766'762
6'416'339
% Out
8.85
4.54
4.45
2.84
2.32
2.21
2.12
1.88
1.56
1.48
1.29
1.21
1.04
1.02
0.99
0.95
0.8
0.76
0.71
0.68
Weighting
Change
5
5
3
5
3
3
#N/A N/A
5
3
3
5
5
1
5
#N/A N/A
5
5
3
5
#N/A N/A
#N/A N/A
#N/A N/A
M
U
M
M
M
M
M
M
M
M
M
D
M
M
M
U
N
N
M
M
M
M
Latest Chg
(519'936)
1'110'799
83'144
(8'455'600)
(1'288'861)
2'729'701
675'169
(669'802)
(2'321'040)
6'268'014
5'822'300
1'897'118
9'000'000
(164'820)
(6'016'914)
(759'228)
464'383
Target Price
50
42
41
52
37
30
#N/A N/A
44
40
36
45
#N/A N/A
29
41
#N/A N/A
40
#N/A N/A
#N/A N/A
47
#N/A N/A
#N/A N/A
#N/A N/A
File Dt
Inst Type
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.01.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
12 month
6 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Date
25.03.2013
15.03.2013
07.03.2013
06.03.2013
04.03.2013
25.02.2013
19.02.2013
28.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
22.01.2013
22.01.2013
04.01.2013
20.12.2012
11.12.2012
10.12.2012
06.12.2012
05.12.2012
05.12.2012
05.12.2012
26.03.2013
Price/Volume
80
3.5 M
70
3.0 M
60
2.5 M
50
12/2012
12/yy
74.49
61.09
248'487.00
70.16
-5.81%
14.85%
62.99%
354.0
24'838.01
3'912.00
0.0
0.0
3'296.00
25'454.01
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
1.5 M
30
20
1.0 M
10
.5 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
2.0 M
40
Valuation Analysis
31.12.2009
31.12.2010
31'981.0
32'466.0
0.87x
0.83x
4'237.0
4'514.0
6.58x
5.99x
2'394.0
2'624.0
11.00x
10.40x
Profitability
LTM-4Q
31.12.2011
32'677.0
0.76x
4'418.0
5.65x
2'526.0
9.11x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
31'513.0
0.80x
3'447.0
7.29x
(332.0)
10.62x
3'447.00
2'827.00
8.97%
1.72%
-0.96%
-2.70%
-2.64%
0.91%
16.2%
4.6%
2.6%
-1.1%
1.35
0.65
11.40%
34.35%
7.28
3.47
LTM
12/yy
32'677.0
3.24x
4'418.0
5.65x
2'526.0
9.10x
12/yy
31'513.0
3.23x
1'453.0
17.28x
(332.0)
10.79x
FY+1
3.58
0.97
334.46
5.26
-2.17%
1.28%
0.970
22
4.091
443'435
616'428
641'340
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
31'614.1
31'511.2
7'611.9
7'869.3
0.78x
0.76x
3.32x
3.13x
4'142.3
4'246.3
983.4
1'020.3
6.14x
5.99x
6.12x
6.03x
2'368.0
2'448.7
560.5
578.8
10.36x
9.75x
10.36x
10.27x
S&P Issuer Ratings
09.07.1999
A
STABLE
09.07.1999
A-1
20.52
17.84
0.42
2.69
34.3%
25.6%
0.91
9.43
50.27
105.45
36.80
118.91
Sales/Revenue/Turnover
12.00
35'000.0
10.00
30'000.0
25'000.0
8.00
20'000.0
6.00
15'000.0
4.00
10'000.0
2.00
5'000.0
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
LONGVIEW ASSET MANAG
EVERCORE TRUST COMPA
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
HARRIS ASSOCIATES LP
WELLINGTON MANAGEMEN
CROWN FUND
BANK OF AMERICA CORP
HENRY CROWN AND CO
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
BERKSHIRE HATHAWAY I
AMERICAN CENTURY COM
SANDERS CAPITAL LLC
UBS
INVESCO LTD
ABRAMS BISON INVESTM
Firm Name
Stifel
Jefferies
Sanford C. Bernstein & Co
Buckingham Research Group
Edward Jones
Cowen and Company
Wells Fargo Securities, LLC
Goldman Sachs
EVA Dimensions
Sterne, Agee & Leach
CRT Capital Group
RBC Capital Markets
Drexel Hamilton LLC
Barclays
Argus Research Corp
Credit Suisse
JPMorgan
Oppenheimer & Co
Deutsche Bank
Gabelli & Co
Portfolio Name
n/a
LONGVIEW ASSET MANAG
EVERCORE TRUST COMPA
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
HARRIS ASSOC LP
WELLINGTON MANAGEMEN
n/a
BANK OF AMERICA
n/a
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
AMERICAN CENTURY COM
SANDERS CAPITAL LLC
n/a
INVESCO LTD
ABRAMS BISON INVESTM
Analyst
WILLIAM R LOOMIS
HOWARD A RUBEL
DOUGLAS S HARNED
RICHARD SAFRAN
CHRISTIAN MAYES
CAI VON RUMOHR
SAMUEL J PEARLSTEIN
NOAH POPONAK
CRAIG STERLING
PETER J ARMENT
BRIAN W RUTTENBUR
ROBERT STALLARD
RICHARD WHITTINGTON
CARTER COPELAND
NATHANIEL GABRIEL
ROBERT M SPINGARN
JOSEPH B NADOL III
YAIR REINER
MYLES WALTON
BRIAN BETTS
Source
ULT-AGG
13F
13F
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
Form 4
13F
Form 4
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
13F
Recommendation
hold
buy
market perform
neutral
buy
outperform
outperform
Sell/Neutral
buy
buy
sell
outperform
sell
overweight
buy
outperform
overweight
market perform
buy
hold
Amt Held
35'739'700
33'397'060
31'095'174
16'879'134
16'336'474
15'579'724
11'083'796
8'641'180
7'921'899
7'753'112
5'512'734
5'424'092
4'337'260
4'084'141
3'877'122
3'680'628
3'537'634
3'484'589
3'071'247
2'870'000
% Out
10.1
9.43
8.78
4.77
4.61
4.4
3.13
2.44
2.24
2.19
1.56
1.53
1.23
1.15
1.1
1.04
1
0.98
0.87
0.81
Weighting
Change
3
5
3
3
5
5
5
1
5
5
1
5
1
5
5
5
5
3
5
3
M
M
M
M
M
M
M
M
U
M
M
M
M
M
M
M
M
M
M
D
Latest Chg
1'940'000
(254)
31'095'174
299'279
527'606
(202'750)
344'373
(357'633)
(7'048)
337'626
616'732
335'900
(250'871)
(96'268)
40'000
Target Price
#N/A N/A
82
73
70
#N/A N/A
#N/A N/A
#N/A N/A
61
#N/A N/A
82
54
77
55
87
79
83
73
#N/A N/A
80
#N/A N/A
File Dt
Inst Type
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
06.03.2013
Unclassified
31.12.2012
Investment Advisor
06.03.2013
Holding Company
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.01.2013
Unclassified
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
Date
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
9 month
Not Provided
12 month
Not Provided
Date
25.03.2013
22.03.2013
22.03.2013
22.03.2013
19.03.2013
11.03.2013
07.03.2013
06.03.2013
06.03.2013
28.02.2013
28.02.2013
20.02.2013
11.02.2013
06.02.2013
29.01.2013
23.01.2013
23.01.2013
23.01.2013
25.10.2012
06.03.2009
26.03.2013
General Electric Co
General Electric Company is a globally diversified technology and financial
services company. The Company's products and services include aircraft engines,
power generation, water processing, and household appliances to medical imaging,
business and consumer financing and industrial products.
Price/Volume
25
40.0 M
35.0 M
20
30.0 M
25.0 M
15
20.0 M
Valuation Analysis
10
12/2012
12/yy
23.90
18.03
3'303'089.00
23.1
-3.35%
28.12%
88.76%
10'370.9
239'568.38
17'469.00
0.0
5'444.0
15'583.00
246'898.38
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
10.0 M
5.0 M
0
m-12
31.12.2009
31.12.2010
154'272.0
148'442.0
1.12x
1.28x
20'435.0
23'747.0
8.45x
8.01x
11'025.0
11'644.0
12.50x
16.04x
Profitability
LTM-4Q
31.12.2011
142'224.0
1.37x
25'040.0
7.76x
14'151.0
12.88x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
144'796.0
1.56x
25'000.0
9.03x
13'641.0
13.63x
25'000.00
15'654.00
10.81%
12.02%
1.94%
11.39%
3.11%
0.21%
38.6%
17.3%
10.8%
9.4%
1.12
1.02
49.24%
274.31%
6.90
6.09
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
LTM
FY+1
3.03
1.12
10'364.99
79.23
19.12%
10.95%
1.121
22
4.273
7'784'130
9'154'661
9'172'195
FY+2
FQ+1
FQ+2
12/yy
12/yy
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
142'224.0 144'796.0 149'226.4 154'897.7
33'653.6
35'510.3
5.40x
6.34x
3.38x
3.16x
14.38x
13.61x
25'040.0
25'000.0
29'181.9
32'329.7
5'693.5
6'577.8
7.76x
9.03x
8.47x
7.64x
9.16x
14'151.0
13'641.0
17'028.7
18'524.7
3'597.1
4'136.2
13.27x
13.81x
13.79x
12.49x
13.75x
13.64x
S&P Issuer Ratings
Long-Term Rating Date
12.03.2009
Long-Term Rating
AA+
Long-Term Outlook
STABLE
Short-Term Rating Date
23.11.1981
Short-Term Rating
A-1+
Credit Ratios
EBITDA/Interest Exp.
18.10
(EBITDA-Capex)/Interest Exp.
7.15
Net Debt/EBITDA
0.08
Total Debt/EBITDA
0.70
Reference
Total Debt/Equity
274.3%
Total Debt/Capital
72.4%
Asset Turnover
0.21
Net Fixed Asset Turnover
2.14
Accounts receivable turnover-days
53.05
Inventory Days
60.06
Accounts Payable Turnover Day
64.90
Cash Conversion Cycle
48.22
Sales/Revenue/Turnover
9.00
200'000.0
8.00
180'000.0
7.00
160'000.0
140'000.0
6.00
120'000.0
5.00
4.00
100'000.0
80'000.0
3.00
60'000.0
2.00
40'000.0
1.00
20'000.0
0.00
01.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
15.0 M
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
General Electric Co
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
FMR LLC
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
T ROWE PRICE ASSOCIA
DODGE & COX
GENERAL ELECTRIC COM
INVESCO LTD
WELLINGTON MANAGEMEN
FRANKLIN RESOURCES
NORGES BANK
BANK OF AMERICA CORP
GEODE CAPITAL MANAGE
GOLDMAN SACHS GROUP
TIAA CREF INVESTMENT
UBS
Firm Name
Deutsche Bank
Sanford C. Bernstein & Co
Morgan Stanley
Nomura
Tigress Financial Partners
Edward Jones
Independent Research GmbH
William Blair & Co
S&P Capital IQ
Credit Suisse
Barclays
JPMorgan
Langenberg & Co
Hamburger Sparkasse
Argus Research Corp
Oppenheimer & Co
Hilliard Lyons
EVA Dimensions
Gabelli & Co
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
n/a
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
T ROWE PRICE ASSOCIA
DODGE & COX
GENERAL ELECTRIC COM
INVESCO LTD
WELLINGTON MANAGEMEN
n/a
NORGES BANK
BANK OF AMERICA
GEODE CAPITAL MANAGE
GOLDMAN SACHS GROUP
TIAA-CREF INVESTMENT
n/a
Analyst
JOHN G INCH
STEVEN E WINOKER
NIGEL COE
SHANNON O'CALLAGHAN
IVAN FEINSETH
CHRISTIAN MAYES
MARKUS FRIEBEL
NICHOLAS P HEYMANN
RICHARD TORTORIELLO
JULIAN MITCHELL
SCOTT R DAVIS
CHARLES STEPHEN TUSA
BRIAN KEITH LANGENBERG
MARCO GUENTHER
NATHANIEL GABRIEL
CHRISTOPHER D GLYNN
STEPHEN A O'NEIL
CRAIG STERLING
ZAHID SIDDIQUE
Source
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
Recommendation
buy
market perform
Equalwt/In-Line
neutral
neutral
hold
buy
market perform
buy
outperform
overweight
overweight
buy
hold
buy
outperform
long-term buy
hold
buy
Amt Held
558'433'817
467'730'619
411'626'009
288'666'437
278'628'320
230'580'855
160'078'193
155'333'167
112'531'041
97'580'627
93'776'061
89'891'975
88'633'819
84'939'335
84'870'136
70'379'614
69'397'689
67'797'703
58'199'736
53'341'030
% Out
5.38
4.51
3.97
2.78
2.69
2.22
1.54
1.5
1.09
0.94
0.9
0.87
0.85
0.82
0.82
0.68
0.67
0.65
0.56
0.51
Weighting
Change
5
3
3
3
3
3
5
3
5
5
5
5
5
3
5
5
5
3
5
M
M
M
D
N
M
U
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
12'306'785
10'800'337
3'757'785
(10'336'401)
(5'371'018)
26'355
(8'124'396)
(4'537'565)
(7'016'523)
(583'868)
(9'489'501)
(10'550'455)
(4'879'785)
7'264'656
7'653'656
(6'989'488)
(6'895'934)
1'474'442
(337'927)
Target Price
28
25
23
24
#N/A N/A
#N/A N/A
27
24
26
25
25
24
30
#N/A N/A
25
25
27
#N/A N/A
#N/A N/A
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
Date
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
9 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Corporation
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Date
25.03.2013
22.03.2013
20.03.2013
11.03.2013
06.03.2013
23.02.2013
14.02.2013
13.02.2013
13.02.2013
12.02.2013
12.02.2013
05.02.2013
04.02.2013
29.01.2013
23.01.2013
22.01.2013
18.01.2013
15.01.2013
26.09.2011
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (12.03.2013)
52-Week Low (11.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 15.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
GILD UW EQUITY YTD Change
GILD UW EQUITY YTD % CHANGE
12/2012
12/yy
46.37
22.67
761'759.00
45.48
-1.91%
100.64%
94.16%
1'522.4
69'238.41
8'224.05
0.0
241.1
2'582.09
75'121.50
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
16.0 M
14.0 M
12.0 M
10.0 M
8.0 M
6.0 M
4.0 M
2.0 M
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
50
45
40
35
30
25
20
15
10
5
0
m-12
31.12.2009
31.12.2010
7'011.4
7'949.4
5.18x
3.38x
3'857.3
4'227.7
9.42x
6.35x
2'635.8
2'901.3
14.87x
10.50x
Profitability
LTM-4Q
31.12.2011
8'385.4
3.41x
4'092.1
6.99x
2'803.6
11.18x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
9'702.5
6.36x
4'288.4
14.38x
2'591.6
21.60x
4'288.38
4'010.18
41.33%
37.23%
13.45%
32.30%
17.56%
0.50%
74.5%
44.2%
41.3%
26.7%
1.44
0.85
38.72%
88.34%
5.24
1.58
LTM
12/yy
8'385.4
14.21x
4'094.7
6.98x
2'803.6
11.34x
12/yy
9'702.5
21.53x
4'288.4
14.38x
2'591.6
21.60x
FY+1
0.00
0.87
1'509.35
58.09
92.63%
23.84%
0.866
31
4.677
2'743'750
2'509'634
2'522'554
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
10'748.3
12'727.1
2'570.1
2'646.0
6.42x
5.44x
4'741.4
6'491.6
1'115.5
1'129.0
15.90x
11.61x
16.57x
3'226.3
4'427.6
782.8
791.0
21.93x
15.69x
22.45x
19.79x
S&P Issuer Ratings
23.03.2011
ASTABLE
11.88
10.78
1.32
1.92
88.3%
46.3%
0.50
10.35
69.83
232.14
164.03
137.94
Sales/Revenue/Turnover
25.00
12'000.0
10'000.0
20.00
8'000.0
15.00
6'000.0
10.00
4'000.0
5.00
0.00
01.01.2010
2'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
FMR LLC
BLACKROCK
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
STATE STREET
WELLINGTON MANAGEMEN
NORTHERN TRUST CORPO
INVESCO LTD
BANK OF NEW YORK MEL
UBS
VANGUARD GROUP INC
MARSICO CAPITAL MANA
JP MORGAN
JENNISON ASSOCIATES
AMERIPRISE FINANCIAL
TIAA CREF INVESTMENT
JANUS CAPITAL MANAGE
GOLDMAN SACHS GROUP
FRANKLIN RESOURCES
Firm Name
BMO Capital Markets
RBC Capital Markets
Leerink Swann & Co
Stifel
Oppenheimer & Co
Wells Fargo Securities, LLC
Maxim Group LLC
Piper Jaffray
ISI Group
Guggenheim Securities LLC
S&P Capital IQ
Jefferies
JPMorgan
Sanford C. Bernstein & Co
Robert W. Baird & Co
Morgan Stanley
Lazard Capital Markets
Credit Suisse
Cowen and Company
Summer Street Research Partners
William Blair & Co
Argus Research Corp
Needham & Co
Atlantic Equities LLP
Barclays
EVA Dimensions
Goldman Sachs
Deutsche Bank
First Global Stockbroking
BWS Financial
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
n/a
WELLINGTON MANAGEMEN
NORTHERN TRUST CORPO
INVESCO LTD
BANK OF NEW YORK MEL
n/a
Multiple Portfolios
MARSICO CAPITAL MANA
n/a
JENNISON ASSOCIATES
AMERIPRISE FINANCIAL
TIAA-CREF INVESTMENT
n/a
GOLDMAN SACHS GROUP
n/a
Analyst
JIM BIRCHENOUGH
MICHAEL J YEE
HOWARD LIANG
JOEL D SENDEK
DAVID FERREIRO
BRIAN C ABRAHAMS
JASON KOLBERT
M IAN SOMAIYA
MARK J SCHOENEBAUM
BRET HOLLEY
STEVEN SILVER
THOMAS WEI
GEOFFREY MEACHAM
GEOFFREY C PORGES
BRIAN P SKORNEY
MARSHALL URIST
JOSHUA SCHIMMER
RAVI MEHROTRA
PHILIP NADEAU
CAROL A WERTHER
JOHN S SONNIER
JOHN M EADE
ALAN CARR
RICHARD J PURKISS
CHARLES ANTHONY BUTLER
ANDREW S ZAMFOTIS
TERENCE FLYNN
ROBYN KARNAUSKAS
KAVITA THOMAS
HAMED KHORSAND
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
ULT-AGG
Recommendation
outperform
outperform
outperform
buy
outperform
outperform
buy
overweight
buy
buy
buy
hold
overweight
outperform
outperform
Overwt/In-Line
buy
outperform
outperform
neutral
outperform
hold
buy
neutral
overweight
overweight
neutral/attractive
buy
market perform
buy
Amt Held
298'675'044
111'854'914
88'315'026
67'203'144
62'827'858
59'796'618
45'508'106
29'696'606
25'991'274
21'926'206
21'623'634
21'256'556
20'915'172
20'711'890
19'501'542
18'205'634
16'314'578
15'814'906
14'721'904
12'683'224
% Out
19.62
7.35
5.8
4.41
4.13
3.93
2.99
1.95
1.71
1.44
1.42
1.4
1.37
1.36
1.28
1.2
1.07
1.04
0.97
0.83
Weighting
Change
5
5
5
5
5
5
5
5
5
5
5
3
5
5
5
5
5
5
5
3
5
3
5
3
5
5
3
5
3
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
R
D
M
D
M
M
M
M
Latest Chg
16'340'092
15'313'566
1'612'488
2'762'936
1'604'673
(6'740'462)
9'207'940
(2'060'540)
(2'486'034)
(6'080'712)
6'930'110
5'867'630
9'988'298
3'621'978
(761'396)
(1'905'270)
(2'927'484)
(892'748)
Target Price
53
50
#N/A N/A
49
50
#N/A N/A
48
50
50
50
50
40
50
48
45
46
58
55
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
45
41
42
#N/A N/A
43
48
#N/A N/A
24
File Dt
31.12.2012
31.12.2012
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
9 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
26.03.2013
26.03.2013
26.03.2013
26.03.2013
26.03.2013
25.03.2013
25.03.2013
22.03.2013
22.03.2013
22.03.2013
14.03.2013
13.03.2013
11.03.2013
07.03.2013
06.03.2013
06.03.2013
26.02.2013
20.02.2013
20.02.2013
19.02.2013
06.02.2013
05.02.2013
05.02.2013
05.02.2013
04.02.2013
01.02.2013
30.01.2013
09.02.2012
21.04.2011
26.03.2013
Price/Volume
180
160
140
120
100
80
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (19.02.2013)
52-Week Low (26.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 15.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
GS UN EQUITY YTD Change
GS UN EQUITY YTD % CHANGE
12/2012
12/yy
158.68
90.43
275'433.00
146
-7.99%
61.45%
81.58%
465.5
70'199.98
510'691.00
6'200.0
508.0
72'669.00
514'929.98
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
40
20
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
60
5.0 M
4.5 M
4.0 M
3.5 M
3.0 M
2.5 M
2.0 M
1.5 M
1.0 M
.5 M
.0 M
f-13 m-13
31.12.2009
31.12.2010
51'673.0
45'967.0
10.25x
12.69x
28'272.0
22'067.0
18.74x
26.44x
13'385.0
8'354.0
7.37x
11.05x
Profitability
LTM-4Q
31.12.2011
36'793.0
14.05x
16'020.0
32.28x
4'442.0
13.58x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
41'664.0
12.15x
20'446.0
24.75x
7'475.0
8.49x
20'446.00
32.80%
26.90%
0.80%
10.66%
1.27%
0.04%
49.1%
17.9%
54.41%
734.64%
-
LTM
12/yy
36'793.0
60.32x
16'020.0
32.28x
4'442.0
13.91x
12/yy
41'664.0
50.23x
20'446.0
24.75x
7'475.0
8.47x
FY+1
1.21
1.24
428.80
6.46
15.91%
14.84%
1.243
32
3.469
697'949
797'984
823'136
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
33'559.2
34'810.9
9'185.0
8'371.3
6'791.4
7'130.6
1'859.8
1'525.4
10.62x
9.67x
10.58x
10.40x
S&P Issuer Ratings
29.11.2011
ANEG
29.11.2011
A-2
21.42
24.98
734.6%
87.0%
0.04
4.93
-
Sales/Revenue/Turnover
30.00
100'000.0
90'000.0
25.00
80'000.0
70'000.0
20.00
60'000.0
15.00
50'000.0
40'000.0
10.00
30'000.0
20'000.0
5.00
0.00
01.01.2010
10'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
GOLDMAN SACHS SHRHLD
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
STATE STREET
CITIGROUP INCORPORAT
SUN LIFE FINANCIAL I
DODGE & COX
VANGUARD GROUP INC
JP MORGAN
JENNISON ASSOCIATES
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
INVESCO LTD
ROYAL BANK OF CANADA
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
GEODE CAPITAL MANAGE
FMR LLC
TIAA CREF INVESTMENT
Firm Name
Mediobanca SpA
JMP Securities
Buckingham Research Group
ISI Group
Rafferty Capital Markets
Susquehanna Financial Group
FBR Capital Markets
Wells Fargo Securities, LLC
Portales Partners
Barclays
JPMorgan
Sanford C. Bernstein & Co
RBC Capital Markets
EVA Dimensions
Nomura
S&P Capital IQ
Macquarie
Atlantic Equities LLP
Credit Suisse
Credit Agricole Securities (USA)
Daiwa Securities Co. Ltd.
SunTrust Robinson Humphrey
Deutsche Bank
Argus Research Corp
Oppenheimer & Co
Morgan Stanley
Sandler O'Neill & Partners, LP
Evercore Partners
HSBC
Meredith Whitney Advisory Group
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
n/a
CITIGROUP INCORPORAT
n/a
DODGE & COX
Multiple Portfolios
n/a
JENNISON ASSOCIATES
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
INVESCO LTD
n/a
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
GEODE CAPITAL MANAGE
n/a
TIAA-CREF INVESTMENT
Analyst
CHRISTOPHER J WHEELER
DAVID M TRONE
JAMES F MITCHELL
Ed Najarian
RICHARD X BOVE SR
DOUGLAS C SIPKIN
STEVE STELMACH
MATTHEW H BURNELL
CHARLES W PEABODY
ROGER A FREEMAN
KIAN ABOUHOSSEIN
CHARLES BRADLEY HINTZ
FIONA SWAFFIELD
AUSTIN BURKETT
GLENN P SCHORR
KENNETH M LEON
EDWARD DITMIRE
RICHARD STAITE
HOWARD H CHEN
MICHAEL L MAYO
KAZUKI WATANABE
ERIC WASSERSTROM
MATTHEW D O'CONNOR
DAVID RITTER
CHRISTOPHER M KOTOWSKI
BETSY L GRASECK
JEFFERY HARTE
CHRISTOPHER J ALLEN
ROBERT MURPHY
MEREDITH A WHITNEY
Source
ULT-AGG
13D
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
Recommendation
neutral
market perform
neutral
neutral
buy
Positive
outperform
market perform
sector perform
equalweight
underweight
outperform
sector perform
overweight
buy
hold
suspended coverage
neutral
outperform
buy
outperform
neutral
hold
hold
market perform
Equalwt/Attractive
hold
equalweight
underweight
hold
Amt Held
27'890'245
27'836'304
22'829'405
19'438'370
19'155'697
15'002'800
14'823'199
12'016'625
11'963'306
8'066'345
7'613'007
6'216'113
5'351'745
4'769'976
4'036'825
3'772'587
3'018'933
2'952'618
2'935'340
2'793'923
% Out
5.99
5.98
4.9
4.18
4.12
3.22
3.18
2.58
2.57
1.73
1.64
1.34
1.15
1.02
0.87
0.81
0.65
0.63
0.63
0.6
Weighting
Change
3
3
3
3
5
4
5
3
3
3
1
5
3
5
5
3
#N/A N/A
3
5
5
5
3
3
3
3
3
3
3
1
3
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
M
M
U
M
D
M
M
M
D
M
M
M
Latest Chg
2'753'217
(3'084'164)
253'774
361'587
(295'596)
166'690
(325'300)
(1'173'380)
(1'781'598)
(116'688)
38'165
396'208
285'653
(886'020)
(2'393'690)
(312'610)
657'450
(200'482)
Target Price
146
#N/A N/A
150
145
184
165
165
#N/A N/A
#N/A N/A
155
134
170
135
#N/A N/A
155
165
#N/A N/A
146
160
176
163
156
144
#N/A N/A
#N/A N/A
130
147
145
117
#N/A N/A
File Dt
31.12.2012
01.02.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
9 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Inst Type
Investment Advisor
Other
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Bank
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
25.03.2013
22.03.2013
21.03.2013
21.03.2013
19.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
11.03.2013
08.03.2013
05.03.2013
05.03.2013
20.02.2013
20.02.2013
15.02.2013
14.02.2013
12.02.2013
12.02.2013
08.02.2013
06.02.2013
25.01.2013
24.01.2013
23.01.2013
17.01.2013
17.01.2013
16.01.2013
11.12.2012
16.10.2012
26.03.2013
Google Inc
Google Inc. is a global technology company that provides a web based search
engine through its website. The Company offers a wide range of search options,
including web, image, groups, directory, and news searches.
Price/Volume
900
4.0 M
800
3.5 M
700
3.0 M
600
2.5 M
500
12/2012
12/yy
844.00
556.55
115'590.00
811.4
-3.86%
45.79%
88.05%
267.5
268'688.22
5'537.00
0.0
0.0
49'557.00
224'668.22
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
1.5 M
300
200
1.0 M
100
.5 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
2.0 M
400
Valuation Analysis
31.12.2009
31.12.2010
23'650.6
29'321.0
7.29x
5.42x
9'836.5
11'777.0
17.53x
13.48x
6'520.4
8'505.0
30.38x
22.58x
Profitability
LTM-4Q
31.12.2011
37'905.0
4.45x
13'593.0
12.41x
9'737.0
21.70x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
50'175.0
3.77x
15'722.0
12.05x
10'737.0
20.79x
15'722.00
12'760.00
25.43%
26.68%
12.91%
16.54%
15.48%
0.62%
58.9%
30.5%
24.8%
21.4%
4.22
3.90
5.90%
7.72%
7.72
85.42
LTM
12/yy
37'905.0
15.26x
13'593.0
12.41x
9'737.0
21.72x
12/yy
51'379.0
13.87x
15'684.0
12.08x
10'737.0
20.97x
FY+1
0.00
0.98
266.48
4.39
24.96%
14.38%
0.979
45
4.222
417'677
594'329
622'068
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
47'959.4
56'129.7
11'262.5
11'591.7
4.44x
3.51x
19.60x
18.70x
22'088.2
25'902.6
5'178.4
5'293.7
10.17x
8.68x
10.14x
9.76x
15'493.8
18'396.8
3'573.1
3'650.7
17.71x
15.08x
17.74x
17.07x
S&P Issuer Ratings
19.11.2012
AA
STABLE
15.07.2010
A-1+
187.17
148.20
-2.81
0.35
7.7%
7.2%
0.62
4.79
47.41
4.28
21.55
30.52
Sales/Revenue/Turnover
25.00
60'000.0
50'000.0
20.00
40'000.0
15.00
30'000.0
10.00
20'000.0
5.00
0.00
01.01.2010
10'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Google Inc
Holdings By:
All
Holder Name
FMR LLC
BLACKROCK
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
STATE STREET
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
JP MORGAN
BANK OF NEW YORK MEL
INVESCO LTD
NORTHERN TRUST CORPO
PRIMECAP MANAGEMENT
JENNISON ASSOCIATES
DAVIS SELECTED ADVIS
GOLDMAN SACHS GROUP
SANDS CAPITAL MANAGE
UBS
TIAA CREF INVESTMENT
WELLINGTON MANAGEMEN
NORGES BANK
Firm Name
Jefferies
Wedbush
Wedge Partners
Sanford C. Bernstein & Co
Cantor Fitzgerald
Cowen and Company
Barclays
Edward Jones
Credit Agricole Securities (USA)
Tigress Financial Partners
JMP Securities
Robert W. Baird & Co
Stifel
Daiwa Securities Co. Ltd.
Pivotal Research Group LLC
Sterne, Agee & Leach
Canaccord Genuity Corp
Wells Fargo Securities, LLC
Morgan Stanley
BMO Capital Markets
Pacific Crest Securities
Oppenheimer & Co
Nomura
RBC Capital Markets
Atlantic Equities LLP
William Blair & Co
Piper Jaffray
Argus Research Corp
EVA Dimensions
Deutsche Bank
S&P Capital IQ
Telsey Advisory Group
JPMorgan
Hilliard Lyons
Raymond James
Hamburger Sparkasse
Independent Research GmbH
Goldman Sachs
Credit Suisse
Needham & Co
Macquarie
B Riley & Company, Inc
BGC Partners
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
n/a
T ROWE PRICE ASSOCIA
Multiple Portfolios
n/a
BANK OF NEW YORK MEL
INVESCO LTD
NORTHERN TRUST CORPO
PRIMECAP MANAGEMENT
JENNISON ASSOCIATES
DAVIS SELECTED ADVIS
GOLDMAN SACHS GROUP
SANDS CAPITAL MANAGE
n/a
TIAA-CREF INVESTMENT
WELLINGTON MANAGEMEN
NORGES BANK
Analyst
BRIAN J PITZ
JAMES G DIX
MARTIN PYYKKONEN
CARLOS KIRJNER
YOUSSEF H SQUALI
JOHN BLACKLEDGE
ANTHONY J DICLEMENTE
JOSH OLSON
JAMES LEE
IVAN FEINSETH
RONALD V JOSEY III
COLIN SEBASTIAN
JORDAN ROHAN
KAZUYA NISHIMURA
BRIAN WIESER
SHAW WU
MICHAEL GRAHAM
JASON MAYNARD
SCOTT W DEVITT
DANIEL SALMON
EVAN S WILSON
JASON S HELFSTEIN
BRIAN NOWAK
MARK S MAHANEY
HAMILTON FABER
RALPH SCHACKART
EUGENE E MUNSTER
JOSEPH F BONNER
ANDREW S ZAMFOTIS
ROSS SANDLER
SCOTT H KESSLER
THOMAS FORTE
DOUGLAS ANMUTH
STEPHEN TURNER
AARON M KESSLER
MARCO GUENTHER
MARKUS FRIEBEL
HEATHER BELLINI
STEPHEN JU
KERRY RICE
BENJAMIN A SCHACHTER
SAMEET SINHA
COLIN W GILLIS
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
MF-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
Recommendation
buy
neutral
no rating system
outperform
buy
outperform
overweight
buy
buy
strong buy
market outperform
outperform
hold
outperform
hold
neutral
buy
market perform
Overwt/Attractive
market perform
outperform
market perform
buy
outperform
overweight
outperform
overweight
buy
hold
buy
hold
no rating system
overweight
neutral
outperform
hold
hold
neutral/neutral
outperform
buy
outperform
buy
hold
Amt Held
18'215'530
14'812'725
11'833'058
11'006'397
10'616'454
9'457'496
7'472'695
6'419'685
4'586'974
4'016'989
3'824'800
3'207'437
2'756'412
2'715'974
2'501'395
2'490'314
2'380'317
2'222'539
2'173'908
2'116'195
% Out
6.81
5.54
4.42
4.11
3.97
3.54
2.79
2.4
1.71
1.5
1.43
1.2
1.03
1.02
0.94
0.93
0.89
0.83
0.81
0.79
Weighting
Change
5
3
#N/A N/A
5
5
5
5
5
5
5
4
5
3
5
3
3
5
3
5
3
5
3
5
5
5
5
5
5
3
5
3
#N/A N/A
5
3
5
3
3
3
5
5
5
5
3
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
D
M
M
M
M
M
M
M
M
M
Latest Chg
(5'443)
308'479
347'460
1'637'525
(387'952)
151'141
623'378
27'119
(227'260)
(23'714)
(39'630)
597'897
(130'698)
(90'008)
6'165
(21'961)
(122'117)
320'943
333'660
Target Price
1'000
770
#N/A N/A
1'000
900
#N/A N/A
850
#N/A N/A
1'000
#N/A N/A
955
830
#N/A N/A
925
820
#N/A N/A
830
#N/A N/A
932
790
980
765
860
950
1'000
#N/A N/A
938
875
#N/A N/A
935
825
870
860
#N/A N/A
825
#N/A N/A
800
700
847
850
795
846
760
File Dt
31.12.2012
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
9 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Government
Date
26.03.2013
26.03.2013
25.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
21.03.2013
20.03.2013
20.03.2013
19.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
14.03.2013
12.03.2013
11.03.2013
11.03.2013
11.03.2013
11.03.2013
10.03.2013
07.03.2013
05.03.2013
01.03.2013
28.02.2013
22.02.2013
21.02.2013
20.02.2013
10.02.2013
07.02.2013
06.02.2013
05.02.2013
29.01.2013
24.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
26.03.2013
Halliburton Co
Halliburton Company provides energy services and engineering and construction
services, as well as manufactures products for the energy industry. The Company
offers services and products and integrated solutions to customers in the
exploration, development, and production of oil and natural gas.
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (14.02.2013)
52-Week Low (26.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 01.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
HAL UN EQUITY YTD Change
HAL UN EQUITY YTD % CHANGE
Price/Volume
12/2012
12/yy
43.95
26.29
591'789.00
39.87
-9.28%
51.65%
75.65%
931.8
37'151.39
4'820.00
0.0
25.0
2'484.00
39'512.39
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
12.0 M
10.0 M
8.0 M
6.0 M
4.0 M
2.0 M
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
50
45
40
35
30
25
20
15
10
5
0
m-12
31.12.2009
31.12.2010
14'675.0
17'973.0
1.93x
2.17x
2'920.0
4'118.0
9.71x
9.46x
1'145.0
1'835.0
22.29x
19.92x
Profitability
LTM-4Q
31.12.2011
24'829.0
1.36x
6'096.0
5.54x
2'839.0
10.21x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
28'503.0
1.21x
5'787.0
5.98x
2'635.0
11.49x
5'787.00
4'159.00
14.59%
13.41%
10.32%
18.20%
14.73%
1.12%
15.6%
20.3%
14.6%
9.2%
2.75
1.74
17.58%
30.57%
5.24
8.39
LTM
12/yy
24'829.0
6.44x
6'096.0
5.54x
2'839.0
10.27x
12/yy
28'503.0
4.58x
5'787.0
5.98x
2'635.0
11.26x
FY+1
0.90
1.61
874.10
19.98
19.87%
15.29%
1.608
35
4.543
3'388'599
2'413'753
2'325'967
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
29'695.5
32'786.0
6'883.6
7'248.9
1.33x
1.16x
5.79x
5.51x
6'195.5
7'566.7
1'301.6
1'479.8
6.38x
5.23x
6.36x
6.00x
2'820.0
3'641.6
538.8
652.1
13.18x
10.08x
13.18x
12.19x
S&P Issuer Ratings
20.08.2007
A
STABLE
20.08.2007
A-1
19.42
7.45
0.40
0.83
30.6%
23.4%
1.12
3.04
69.80
43.63
28.58
84.89
Sales/Revenue/Turnover
25.00
30'000.0
25'000.0
20.00
20'000.0
15.00
15'000.0
10.00
10'000.0
5.00
0.00
01.01.2010
5'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Halliburton Co
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
FMR LLC
VANGUARD GROUP INC
FRANKLIN RESOURCES
PUTNAM INVESTMENT MA
CAPITAL GROUP COMPAN
INVESCO LTD
WELLINGTON MANAGEMEN
CARMIGNAC GESTION
GOLDMAN SACHS GROUP
NORTHERN TRUST CORPO
VALUEACT HOLDINGS LP
BANK OF NEW YORK MEL
JP MORGAN
VAN ECK ASSOCIATES C
INSTITUTIONAL CAPITA
NORGES BANK
DEUTSCHE BANK AG
Firm Name
RBC Capital Markets
Howard Weil Inc
Raymond James
Guggenheim Securities LLC
Sanford C. Bernstein & Co
ISI Group
RS Platou Markets
Susquehanna Financial Group
FBR Capital Markets
Edward Jones
Jefferies
Capital One Southcoast, Inc.
Global Hunter Securities
EVA Dimensions
Stephens Inc
Macquarie
Wells Fargo Securities, LLC
Barclays
JPMorgan
Goldman Sachs
Sterne, Agee & Leach
Cowen Securities LLC
Societe Generale
Deutsche Bank
Argus Research Corp
Credit Suisse
Johnson Rice & Co
Fearnley Fonds
MLV & Co
BMO Capital Markets
Morgan Stanley
Credit Agricole Securities (USA)
S&P Capital IQ
Tudor Pickering & Co
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
n/a
PUTNAM INVESTMENT MA
n/a
INVESCO LTD
WELLINGTON MANAGEMEN
Multiple Portfolios
GOLDMAN SACHS GROUP
NORTHERN TRUST CORPO
VALUEACT HOLDINGS LP
BANK OF NEW YORK MEL
n/a
n/a
INSTITUTIONAL CAPITA
NORGES BANK
DEUTSCHE BANK AKTIEN
Analyst
KURT HALLEAD
WILLIAM SANCHEZ
J MARSHALL ADKINS
MICHAEL K LAMOTTE
SCOTT GRUBER
JUDSON E BAILEY
TURNER HOLM
CHARLES P MINERVINO
ROBERT J MACKENZIE
BRIAN YOUNGBERG
BRAD HANDLER
LUKE M LEMOINE
BRIAN UHLMER
CRAIG STERLING
MICHAEL MARINO
NIGEL BROWNE
MATTHEW D CONLAN
JAMES C WEST
J DAVID ANDERSON
WAQAR SYED
STEPHEN D GENGARO
JAMES D CRANDELL
EDWARD C MUZTAFAGO
MICHAEL W URBAN
PHILIP H WEISS
JAMES WICKLUND
DAVID C SMITH
TRULS OLSEN
WILLIAM C CONROY
ALAN D LAWS
OLE SLORER
DAVID S HAVENS
STEWART GLICKMAN
JEFF TILLERY
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
ULT-AGG
13F
ULT-AGG
13F
13F
MF-AGG
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
Recommendation
outperform
sector perform
market perform
buy
outperform
strong buy
buy
Positive
outperform
hold
buy
add
buy
hold
overweight
outperform
outperform
overweight
overweight
buy/attractive
buy
buy
hold
buy
buy
outperform
overweight
not rated
buy
outperform
Equalwt/Attractive
buy
hold
buy
Amt Held
54'894'649
41'597'051
39'189'393
29'011'110
26'750'301
24'307'522
21'448'534
19'317'328
18'537'096
17'809'477
15'733'400
13'805'580
12'843'234
12'821'400
11'983'201
11'510'894
11'200'505
10'747'140
8'078'564
7'819'416
% Out
5.89
4.46
4.21
3.11
2.87
2.61
2.3
2.07
1.99
1.91
1.69
1.48
1.38
1.38
1.29
1.24
1.2
1.15
0.87
0.84
Weighting
Change
5
3
3
5
5
5
5
4
5
3
5
4
5
3
5
5
5
5
5
5
5
5
3
5
5
5
5
#N/A N/A
5
5
3
5
3
5
M
M
M
M
M
M
U
M
M
M
M
M
M
U
M
M
M
M
U
M
M
M
M
M
M
M
M
M
U
M
M
M
D
M
Latest Chg
1'032'280
481'246
436'469
7'705'513
11'744'656
818'715
3'137'478
(710'735)
(450'000)
(2'064'747)
25'570
(184'500)
(134'801)
(1'255'755)
743'817
10'747'140
1'656'642
1'393'565
Target Price
45
47
#N/A N/A
48
52
50
48
48
55
#N/A N/A
47
48
45
#N/A N/A
56
49
#N/A N/A
63
52
60
45
50
44
54
48
44
#N/A N/A
#N/A N/A
52
52
39
45
40
#N/A N/A
File Dt
Inst Type
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Unclassified
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Government
31.12.2012
Investment Advisor
Date
12 month
Not Provided
Not Provided
12 month
12 month
12 month
6 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
9 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Date
25.03.2013
25.03.2013
25.03.2013
22.03.2013
21.03.2013
21.03.2013
21.03.2013
20.03.2013
19.03.2013
18.03.2013
18.03.2013
12.03.2013
07.03.2013
05.03.2013
04.03.2013
01.03.2013
21.02.2013
21.02.2013
19.02.2013
14.02.2013
11.02.2013
11.02.2013
30.01.2013
28.01.2013
28.01.2013
28.01.2013
28.01.2013
28.01.2013
28.01.2013
25.01.2013
25.01.2013
25.01.2013
20.09.2012
05.04.2011
26.03.2013
Hewlett-Packard Co
Hewlett-Packard Company provides imaging and printing systems, computing
systems, and information technology services for business and home. The
Company's products include laser and inkjet printers, scanners, copiers and
faxes, personal computers, workstations, storage solutions, and other computing
and printing systems. Hewlett-Packard sells its products worldwide.
Price/Volume
30
25
20
15
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (01.05.2012)
52-Week Low (20.11.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 28.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
HPQ UN EQUITY YTD Change
HPQ UN EQUITY YTD % CHANGE
10/2012
01/yy
25.40
11.35
1'507'120.00
23.35
-8.07%
105.73%
83.63%
1'944.0
45'392.86
28'436.00
0.0
397.0
11'301.00
61'425.86
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
5
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
10
20.0 M
18.0 M
16.0 M
14.0 M
12.0 M
10.0 M
8.0 M
6.0 M
4.0 M
2.0 M
.0 M
f-13 m-13
31.10.2009
31.10.2010
114'552.0
126'033.0
1.00x
0.83x
15'798.0
17'736.0
7.26x
5.88x
7'660.0
8'761.0
12.33x
10.30x
Profitability
LTM-4Q
31.10.2011
127'245.0
0.60x
16'373.0
4.64x
7'074.0
7.25x
31.10.2012
120'357.0
0.37x
14'384.0
3.11x
(12'650.0)
44.68x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
14'384.00
9'289.00
7.72%
-9.91%
-11.05%
-41.53%
1.02%
23.2%
11.8%
7.6%
-10.5%
1.09
0.66
26.14%
126.74%
6.49
13.35
LTM
FY+1
2.20
1.21
1'907.81
64.69
0.64%
64.89%
1.211
36
2.778
5'739'564
4'863'469
5'058'588
FY+2
FQ+1
FQ+2
01/yy
01/yy
10/13 Y
10/14 Y
04/13 Q2 07/13 Q3
124'979.0 118'680.0 113'277.7 112'118.8
28'217.1
27'946.4
2.68x
1.86x
0.51x
0.48x
2.14x
2.12x
14'944.0
14'026.0
14'184.1
13'881.9
3'445.2
3'476.7
5.26x
3.44x
4.32x
4.42x
4.35x
4.38x
5'937.0 (12'886.0)
6'698.4
6'948.7
1'585.3
1'642.3
7.93x
78.62x
6.76x
6.50x
6.73x
6.62x
S&P Issuer Ratings
Long-Term Rating Date
30.11.2011
Long-Term Rating
BBB+
Long-Term Outlook
STABLE
Short-Term Rating Date
30.11.2011
Short-Term Rating
A-2
Credit Ratios
EBITDA/Interest Exp.
16.42
(EBITDA-Capex)/Interest Exp.
12.19
Net Debt/EBITDA
1.11
Total Debt/EBITDA
2.01
Reference
Total Debt/Equity
126.7%
Total Debt/Capital
55.5%
Asset Turnover
1.02
Net Fixed Asset Turnover
9.97
Accounts receivable turnover-days
56.38
Inventory Days
27.41
Accounts Payable Turnover Day
48.76
Cash Conversion Cycle
33.38
Sales/Revenue/Turnover
10.00
140'000.0
9.00
120'000.0
8.00
7.00
100'000.0
6.00
80'000.0
5.00
60'000.0
4.00
3.00
40'000.0
2.00
20'000.0
1.00
0.00
06.11.2009
0.0
06.05.2010
06.11.2010
06.05.2011
06.11.2011
06.05.2012
06.11.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Hewlett-Packard Co
Holdings By:
All
Holder Name
DODGE & COX
STATE STREET
BLACKROCK
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
GRANTHAM MAYO VAN OT
FRANKLIN RESOURCES
STATE FARM MUTUAL AU
PZENA INVESTMENT MAN
HOTCHKIS & WILEY CAP
RELATIONAL INVESTORS
RELATIONAL INVESTORS
ALLIANCE BERNSTEIN
FMR LLC
JP MORGAN
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
STATE FARM MUTUAL AU
INVESCO LTD
Firm Name
RBC Capital Markets
Edward Jones
Jyske Bank
Topeka Capital Markets Inc
Monness, Crespi, Hardt & Co
Morgan Stanley
Jefferies
Wells Fargo Securities, LLC
Cross Research
BMO Capital Markets
ISI Group
Daiwa Securities Co. Ltd.
Pacific Crest Securities
Mizuho Securities USA Inc
Deutsche Bank
Goldman Sachs
Argus Research Corp
Brean Murray Carret & Co
Credit Suisse
JPMorgan
Needham & Co
Robert W. Baird & Co
Raymond James
Sterne, Agee & Leach
Evercore Partners
Credit Agricole Securities (USA)
Barclays
FBN Securities
Wedge Partners
Stifel
EVA Dimensions
S&P Capital IQ
Sanford C. Bernstein & Co
DZ Bank AG
Hamburger Sparkasse
Portfolio Name
DODGE & COX
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
GRANTHAM MAYO VAN OT
n/a
STATE FARM MUTUAL AU
PZENA INVESTMENT MAN
HOTCHKIS AND WILEY
RELATIONAL INVESTORS
n/a
n/a
n/a
n/a
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
STATE FARM MUTUAL AU
INVESCO LTD
Analyst
AMIT DARYANANI
WILLIAM C KREHER
ROBERT JAKOBSEN
BRIAN J WHITE
JEFFREY FIDACARO
KATHRYN HUBERTY
PETER J MISEK
MAYNARD UM
SHANNON S CROSS
KEITH F BACHMAN
BRIAN MARSHALL
YOKO YAMADA
BRENT A BRACELIN
ABHEY R LAMBA
CHRISTOPHER WHITMORE
WILLIAM C SHOPE JR
JAMES KELLEHER
ANANDA BARUAH
KULBINDER GARCHA
MARK A MOSKOWITZ
RICHARD J KUGELE
JAYSON NOLAND SR
BRIAN G ALEXANDER
SHAW WU
ROBERT CIHRA
AVI SILVER
BENJAMIN A REITZES
SHEBLY SEYRAFI
JUN ZHANG
AARON C RAKERS
ANDREW S ZAMFOTIS
ANGELO ZINO
TONI SACCONAGHI
MICHAEL BISSINGER
MARCO GUENTHER
Source
13F
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
13F
13F
13F
Research
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
Sch-D
13F
Recommendation
sector perform
sell
strong buy
sell
neutral
Overwt/In-Line
underperform
market perform
hold
market perform
neutral
neutral
sector perform
underperform
sell
neutral/neutral
hold
hold
neutral
neutral
underperform
neutral
market perform
neutral
underweight
underperform
equalweight
sector perform
no rating system
hold
overweight
hold
outperform
buy
hold
Amt Held
156'597'738
106'309'773
92'930'917
85'110'416
63'618'500
53'291'373
53'006'612
50'688'948
42'070'800
41'107'891
38'023'270
34'534'517
34'534'517
34'335'793
31'517'640
28'480'999
28'171'328
25'976'745
22'521'188
22'072'964
% Out
8.06
5.47
4.78
4.38
3.27
2.74
2.73
2.61
2.16
2.11
1.96
1.78
1.78
1.77
1.62
1.47
1.45
1.34
1.16
1.14
Weighting
Change
3
1
5
1
3
5
1
3
3
3
3
3
3
1
1
3
3
3
3
3
1
3
3
3
1
1
3
3
#N/A N/A
3
5
3
5
5
3
M
M
M
M
M
U
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
R
M
M
M
Latest Chg
14'599'703
1'571'478
(7'619'732)
1'968'856
9'604'300
5'439'086
10'688'313
6'234'572
6'878'389
(2'472'350)
(23'243'182)
(759'633)
6'603'686
(376'536)
5'525
3'599'592
Target Price
23
#N/A N/A
29
12
#N/A N/A
27
14
#N/A N/A
19
20
#N/A N/A
21
#N/A N/A
14
12
16
#N/A N/A
#N/A N/A
20
22
#N/A N/A
20
#N/A N/A
#N/A N/A
15
17
19
20
#N/A N/A
#N/A N/A
#N/A N/A
16
39
#N/A N/A
#N/A N/A
File Dt
Inst Type
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
28.02.2013
Investment Advisor
31.12.2012
Insurance Company
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
30.09.2012
Insurance Company
31.12.2012
Investment Advisor
Date
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
9 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Date
25.03.2013
22.03.2013
21.03.2013
21.03.2013
20.03.2013
17.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
12.03.2013
08.03.2013
06.03.2013
26.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
21.02.2013
22.01.2013
15.01.2013
04.10.2012
19.09.2012
16.08.2012
08.02.2011
26.03.2013
HJ Heinz Co
H.J. Heinz Company manufactures and markets processed food products throughout
the world. The Company's principal products include ketchup, condiments and
sauces, frozen food, soups, beans and pasta meals, infant nutrition and other
processed food products.
Price/Volume
80
9.0 M
70
8.0 M
60
7.0 M
6.0 M
50
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (22.02.2013)
52-Week Low (23.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 27.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
HNZ UN EQUITY YTD Change
HNZ UN EQUITY YTD % CHANGE
04/2012
01/yy
72.70
51.91
206'992.00
72.05
-0.89%
38.80%
96.58%
320.7
23'102.91
5'026.69
0.1
166.0
1'330.44
27'065.31
30.04.2008
10'070.8
1.91x
1'857.9
10.38x
844.9
17.88x
4.0 M
30
3.0 M
20
2.0 M
10
1.0 M
0
m-12
30.04.2009
30.04.2010
10'011.3
10'495.0
1.55x
1.78x
1'783.8
1'862.1
8.67x
10.06x
923.1
864.9
11.68x
16.23x
Profitability
LTM-4Q
30.04.2011
10'706.6
1.92x
1'946.9
10.55x
989.5
16.74x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
30.04.2012
11'649.1
1.79x
1'794.0
11.64x
923.2
15.87x
1'793.96
1'451.17
12.46%
10.16%
8.31%
33.75%
15.45%
0.97%
34.3%
16.5%
13.5%
7.9%
1.47
0.81
41.95%
182.22%
12.96
5.04
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
LTM
01/yy
11'410.3
7.37x
1'880.4
11.21x
971.7
16.15x
01/yy
11'601.4
7.64x
1'918.9
12.21x
992.4
17.01x
FY+1
2.81
0.59
317.78
5.67
40.18%
25.81%
0.590
18
3.222
753'804
1'251'482
830'300
FY+2
FQ+1
FQ+2
04/13 Y
04/14 Y
04/13 Q4 07/13 Q1
11'707.3
12'209.4
3'096.4
2'907.2
2.29x
2.17x
8.62x
9.27x
2'055.6
2'189.8
582.6
528.5
13.17x
12.36x
12.26x
12.33x
1'144.9
1'221.2
271.4
287.0
20.24x
18.94x
19.95x
19.16x
S&P Issuer Ratings
14.02.2013
BBB+ *14.02.2013
A-2 *6.09
4.67
2.02
2.60
182.2%
63.2%
0.97
4.80
28.39
72.97
62.68
26.56
Sales/Revenue/Turnover
18.00
14'000.0
16.00
12'000.0
14.00
10'000.0
12.00
10.00
8'000.0
8.00
6'000.0
6.00
4'000.0
4.00
2'000.0
2.00
0.00
01.05.2009
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
5.0 M
40
0.0
01.11.2009
01.05.2010
01.11.2010
01.05.2011
01.11.2011
01.05.2012
01.11.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
HJ Heinz Co
Holdings By:
All
Holder Name
BLACKROCK
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
STATE STREET
BANK OF NEW YORK MEL
VANGUARD GROUP INC
NORTHERN TRUST CORPO
FEDERATED INVESTORS
CLEARBRIDGE INVESTME
SARASIN & PARTNERS L
UBS
LEGG MASON INC
MORGAN STANLEY
SCHAFER CULLEN CAPIT
MANAGED ACCOUNT ADVI
NORGES BANK
M&G INVESTMENT MANAG
BANK OF AMERICA CORP
INVESCO LTD
AMERIPRISE FINANCIAL
Firm Name
Edward Jones
Stifel
Sanford C. Bernstein & Co
RBC Capital Markets
Credit Agricole Securities (USA)
Jefferies
Morgan Stanley
Barclays
Janney Montgomery Scott LLC
Davenport & Co
S&P Capital IQ
Gabelli & Co
Deutsche Bank
Goldman Sachs
Credit Suisse
JPMorgan
EVA Dimensions
Argus Research Corp
McAdams Wright Ragen Inc
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
BANK OF NEW YORK MEL
Multiple Portfolios
NORTHERN TRUST CORPO
FEDERATED INVESTORS
CLEARBRIDGE INVESTME
SARASIN PARTNERS LLP
n/a
Multiple Portfolios
n/a
SCHAFER CULLEN CAPIT
MANAGED ACCOUNT ADVI
NORGES BANK
M&G INVESTMENT MANAG
BANK OF AMERICA
INVESCO LTD
AMERIPRISE FINANCIAL
Analyst
JACK P RUSSO
CHRISTOPHER R GROWE
ALEXIA HOWARD
EDWARD AARON
DIANE GEISSLER
THILO WREDE
MATTHEW GRAINGER
ANDREW LAZAR
JONATHAN P FEENEY
ANN H GURKIN
THOMAS GRAVES
SARAH DONNELLY
ERIC R KATZMAN
JASON ENGLISH
ROBERT MOSKOW
KENNETH GOLDMAN
AUSTIN BURKETT
JOHN D STASZAK
DAN GEIMAN
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
13F
13F
13F
13F
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
Recommendation
hold
hold
market perform
sector perform
outperform
hold
Equalwt/In-Line
equalweight
neutral
neutral
hold
hold
hold
neutral/neutral
restricted
restricted
hold
buy
focus list
Amt Held
23'659'766
15'000'600
14'670'623
13'232'476
12'267'339
8'946'000
5'783'978
5'233'995
4'696'787
3'528'176
2'888'698
2'844'350
2'838'035
2'710'922
2'632'387
2'587'791
2'573'206
2'567'050
2'511'594
2'504'553
% Out
7.38
4.68
4.58
4.13
3.83
2.79
1.8
1.63
1.46
1.1
0.9
0.89
0.89
0.85
0.82
0.81
0.8
0.8
0.78
0.78
Weighting
Change
3
3
3
3
5
3
3
3
3
3
3
3
3
3
#N/A N/A
#N/A N/A
3
5
5
M
M
M
M
M
M
M
M
M
D
M
M
D
U
M
M
M
M
N
Latest Chg
778'722
863'097
280'946
242'588
110'195
113'198
26'863
(82'649)
(196'145)
(375)
(35'605)
(66'205)
199'032
231'732
(109'300)
(116'751)
15'464
169'787
Target Price
#N/A N/A
#N/A N/A
73
73
62
73
73
73
73
#N/A N/A
72
#N/A N/A
73
61
#N/A N/A
#N/A N/A
#N/A N/A
64
44
File Dt
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
24 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
18.03.2013
15.03.2013
14.03.2013
11.03.2013
11.03.2013
01.03.2013
22.02.2013
22.02.2013
21.02.2013
15.02.2013
15.02.2013
15.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
15.01.2013
30.05.2012
15.06.2009
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (08.03.2013)
52-Week Low (21.05.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 13.11.2012
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
HD UN EQUITY YTD Change
HD UN EQUITY YTD % CHANGE
01/2013
02/yy
71.45
46.37
389'860.00
69.89
-2.18%
50.72%
92.11%
1'495.2
104'498.09
10'796.00
0.0
0.0
2'494.00
112'800.09
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
8.0 M
70
7.0 M
60
6.0 M
50
5.0 M
40
4.0 M
30
3.0 M
20
2.0 M
10
1.0 M
0
m-12
31.01.2010
31.01.2011
66'176.0
67'997.0
0.84x
1.01x
6'609.0
7'557.0
8.45x
9.10x
2'661.0
3'338.0
16.87x
18.08x
Profitability
LTM-4Q
31.01.2012
70'395.0
1.10x
8'343.0
9.32x
3'883.0
18.17x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.01.2013
74'754.0
1.46x
9'450.0
11.53x
4'535.0
21.71x
9'450.00
7'766.00
10.39%
9.66%
11.11%
25.42%
17.23%
1.83%
34.6%
12.6%
10.4%
6.1%
1.34
0.34
26.28%
60.73%
56.63
4.65
m-12
j-12
j-12
LTM
01/yy
70'395.0
3.88x
8'343.0
9.32x
3'883.0
18.24x
a-12
02/yy
74'754.0
5.12x
9'450.0
11.53x
4'535.0
21.92x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
1.66
0.96
1'476.28
13.43
42.37%
13.62%
0.960
31
3.839
1'425'910
1'712'209
1'601'574
FY+2
FQ+1
FQ+2
01/14 Y
01/15 Y
04/13 Q1 07/13 Q2
76'834.3
80'172.8
18'547.6
21'674.9
1.49x
1.43x
6.07x
5.21x
10'381.2
11'291.9
2'333.4
3'317.8
10.87x
9.99x
10.85x
10.59x
5'092.5
5'632.6
1'119.4
1'732.2
19.88x
17.12x
19.84x
19.48x
S&P Issuer Ratings
16.11.2011
ASTABLE
05.07.2007
A-2
14.95
12.88
0.88
1.14
60.7%
37.8%
1.83
3.08
6.55
79.78
38.50
47.82
Sales/Revenue/Turnover
18.00
90'000.0
16.00
80'000.0
14.00
70'000.0
12.00
60'000.0
10.00
50'000.0
8.00
40'000.0
6.00
30'000.0
4.00
20'000.0
2.00
10'000.0
0.00
05.02.2010
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
80
0.0
05.08.2010
05.02.2011
05.08.2011
05.02.2012
05.08.2012
05.02.2013
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
STATE STREET
VANGUARD GROUP INC
FMR LLC
VANGUARD GROUP INC
JP MORGAN
NORTHERN TRUST CORPO
T ROWE PRICE ASSOCIA
BANK OF NEW YORK MEL
NORGES BANK
LANGONE KENNETH G
TIAA CREF INVESTMENT
JANUS CAPITAL MANAGE
AMERIPRISE FINANCIAL
BANK OF AMERICA CORP
CLEARBRIDGE INVESTME
GEODE CAPITAL MANAGE
FISHER INVESTMENTS I
DEUTSCHE BANK AG
Firm Name
Stifel
ISI Group
Raymond James
Canaccord Genuity Corp
Longbow Research
Barclays
Robert W. Baird & Co
Sanford C. Bernstein & Co
Goldman Sachs
Oppenheimer & Co
Nomura
Crowell, Weedon & Co
Daiwa Securities Co. Ltd.
Deutsche Bank
Argus Research Corp
Credit Suisse
JPMorgan
Landesbank Baden-Wuerttemberg
Gabelli & Co
Telsey Advisory Group
BMO Capital Markets
Morgan Stanley
RBC Capital Markets
Edward Jones
Janney Montgomery Scott LLC
Jefferies
S&P Capital IQ
Piper Jaffray
EVA Dimensions
First Global Stockbroking
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
NORTHERN TRUST CORPO
T ROWE PRICE ASSOCIA
BANK OF NEW YORK MEL
NORGES BANK
n/a
TIAA-CREF INVESTMENT
n/a
AMERIPRISE FINANCIAL
BANK OF AMERICA
CLEARBRIDGE INVESTME
GEODE CAPITAL MANAGE
FISHER INVESTMENTS
DEUTSCHE BANK AKTIEN
Analyst
DAVID A SCHICK
GREGORY MELICH
BUDD BUGATCH
LAURA A CHAMPINE
DAVID S MACGREGOR
ALAN M RIFKIN
PETER S BENEDICT
COLIN MCGRANAHAN
MATTHEW J FASSLER
BRIAN NAGEL
ARAM RUBINSON
JAMES D RAGAN
KAHORI TAMADA
MICHAEL BAKER
CHRISTOPHER GRAJA
GARY BALTER
CHRISTOPHER HORVERS
PER-OLA HELLGREN
ZAHID SIDDIQUE
JOSEPH I FELDMAN
WAYNE HOOD
DAVID GOBER
R SCOT CICCARELLI
ROBIN DIEDRICH
DAVID S STRASSER
DANIEL T BINDER
MICHAEL SOUERS
PETER J KEITH
CRAIG STERLING
RITESH DOSHI
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
13F
Form 4
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
Recommendation
hold
strong buy
market perform
hold
buy
overweight
outperform
market perform
neutral/neutral
outperform
neutral
buy
neutral
hold
buy
outperform
overweight
sell
hold
no rating system
market perform
Equalwt/In-Line
outperform
hold
neutral
hold
sell
overweight
overweight
market perform
Amt Held
259'169'876
85'768'123
69'817'390
69'173'068
44'561'903
43'129'635
32'669'622
24'129'181
19'734'437
19'504'921
17'480'869
16'521'656
12'513'691
12'038'677
11'864'087
10'600'560
10'430'336
9'930'641
8'283'318
7'878'954
% Out
17.33
5.74
4.67
4.63
2.98
2.88
2.18
1.61
1.32
1.3
1.17
1.1
0.84
0.81
0.79
0.71
0.7
0.66
0.55
0.53
Weighting
Change
3
5
3
3
5
5
5
3
3
5
3
5
3
3
5
5
5
1
3
#N/A N/A
3
3
5
3
3
3
1
5
5
3
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(1'236'968)
5'080'031
814'069
6'942'036
462'447
(328'777)
5'640'924
(1'794'257)
513'100
1'928'136
347'500
(3'244'632)
(225'788)
(942'663)
(1'023'756)
105'170
4'391'342
Target Price
#N/A N/A
79
#N/A N/A
61
78
78
78
71
75
76
70
76
70
70
75
78
74
65
#N/A N/A
75
72
#N/A N/A
75
#N/A N/A
60
64
55
83
#N/A N/A
#N/A N/A
File Dt
31.12.2012
22.03.2013
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
24.05.2007
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
18 month
12 month
18 month
Not Provided
12 month
Not Provided
Not Provided
9 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Government
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
24.03.2013
21.03.2013
21.03.2013
20.03.2013
20.03.2013
13.03.2013
12.03.2013
10.03.2013
01.03.2013
01.03.2013
28.02.2013
28.02.2013
27.02.2013
27.02.2013
27.02.2013
27.02.2013
27.02.2013
27.02.2013
27.02.2013
26.02.2013
26.02.2013
26.02.2013
26.02.2013
26.02.2013
26.02.2013
26.02.2013
26.02.2013
15.01.2013
18.08.2011
26.03.2013
Price/Volume
3.0 M
2.5 M
50
2.0 M
40
12/2012
12/yy
75.75
52.21
205'512.00
75.58
-0.22%
44.76%
96.22%
783.8
59'238.69
7'496.00
0.0
240.0
5'265.00
61'709.69
1.5 M
30
20
1.0 M
10
.5 M
0
m-12
31.12.2009
31.12.2010
30'908.0
32'350.0
1.36x
1.40x
3'410.0
3'998.0
12.34x
11.33x
1'548.0
2'022.0
16.40x
17.49x
Profitability
LTM-4Q
31.12.2011
36'529.0
1.25x
3'531.0
12.91x
2'067.0
14.34x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
37'665.0
1.38x
5'082.0
10.26x
2'926.0
13.11x
5'082.00
4'156.00
11.03%
10.29%
7.17%
24.61%
16.32%
0.92%
24.9%
13.5%
11.0%
7.8%
1.35
0.97
17.91%
57.77%
5.14
6.66
m-12
j-12
j-12
LTM
12/yy
36'529.0
5.06x
3'531.0
12.91x
2'067.0
12.91x
a-12
12/yy
37'665.0
5.30x
5'082.0
10.26x
2'926.0
12.95x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
2.02
1.20
782.50
8.67
25.51%
19.78%
1.203
28
4.571
809'552
846'561
810'026
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
39'435.6
41'596.9
9'446.5
9'809.4
1.52x
1.40x
6.58x
6.28x
6'934.2
7'536.8
1'628.1
1'722.9
8.90x
8.19x
8.90x
8.61x
3'941.4
4'392.8
900.2
968.1
15.27x
13.72x
15.28x
14.76x
S&P Issuer Ratings
03.07.2001
A
STABLE
03.07.2001
A-1
13.77
11.38
0.44
1.48
57.8%
36.2%
0.92
7.68
71.21
54.98
61.35
64.84
Sales/Revenue/Turnover
20.00
40'000.0
18.00
35'000.0
16.00
30'000.0
14.00
25'000.0
12.00
10.00
20'000.0
8.00
15'000.0
6.00
10'000.0
4.00
5'000.0
2.00
0.00
01.01.2010
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
3.5 M
70
60
Valuation Analysis
31.12.2008
36'556.0
0.83x
4'432.0
6.87x
2'792.0
7.08x
80
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
STATE STREET
BLACKROCK
SUN LIFE FINANCIAL I
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
EVERCORE TRUST COMPA
CAPITAL GROUP COMPAN
JP MORGAN
BARROW HANLEY MEWHIN
FMR LLC
PRIMECAP MANAGEMENT
BANK OF AMERICA CORP
INSTITUTIONAL CAPITA
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
AMERIPRISE FINANCIAL
TIAA CREF INVESTMENT
MORGAN STANLEY
Firm Name
Deutsche Bank
Jefferies
Sanford C. Bernstein & Co
RBC Capital Markets
Goldman Sachs
Sterne, Agee & Leach
Drexel Hamilton LLC
FBR Capital Markets
EVA Dimensions
JPMorgan
Morgan Stanley
William Blair & Co
Stifel
Oppenheimer & Co
Nomura
Cowen and Company
Atlantic Equities LLP
Barclays
Credit Suisse
Langenberg & Co
Edward Jones
Argus Research Corp
Buckingham Research Group
S&P Capital IQ
Gabelli & Co
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
T ROWE PRICE ASSOCIA
Multiple Portfolios
EVERCORE TRUST COMPA
n/a
n/a
BARROW HANLEY MEWHIN
n/a
PRIMECAP MANAGEMENT
BANK OF AMERICA
INSTITUTIONAL CAPITA
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
AMERIPRISE FINANCIAL
TIAA-CREF INVESTMENT
n/a
Analyst
JOHN G INCH
HOWARD A RUBEL
STEVEN E WINOKER
ROBERT STALLARD
JOSEPH RITCHIE
PETER J ARMENT
RICHARD WHITTINGTON
AJAY K KEJRIWAL
CRAIG STERLING
CHARLES STEPHEN TUSA
NIGEL COE
NICHOLAS P HEYMANN
JEFFREY D OSBORNE
CHRISTOPHER D GLYNN
SHANNON O'CALLAGHAN
GAUTAM KHANNA
RICHARD RADBOURNE
SCOTT R DAVIS
JULIAN MITCHELL
BRIAN KEITH LANGENBERG
CHRISTIAN MAYES
NATHANIEL GABRIEL
EDWARD WHEELER
RICHARD TORTORIELLO
JAMES FOUNG
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
MF-AGG
13F
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
Recommendation
buy
buy
outperform
outperform
Buy/Neutral
buy
buy
market perform
buy
overweight
Overwt/In-Line
market perform
buy
outperform
buy
outperform
overweight
overweight
neutral
hold
buy
buy
neutral
buy
buy
Amt Held
73'569'905
42'906'181
37'193'251
34'273'936
25'734'785
21'954'337
20'764'864
19'712'106
18'120'000
17'872'573
17'579'495
17'017'142
13'293'381
12'245'224
11'806'211
11'467'291
10'085'986
10'002'151
8'754'028
8'377'799
% Out
9.39
5.47
4.75
4.37
3.28
2.8
2.65
2.51
2.31
2.28
2.24
2.17
1.7
1.56
1.51
1.46
1.29
1.28
1.12
1.07
Weighting
Change
5
5
5
5
5
5
5
3
5
5
5
3
5
5
5
5
5
5
3
3
5
5
3
5
5
M
M
M
M
N
M
M
M
U
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(1'051'311)
811'926
2'228'106
1'259'529
2'301'749
1'482'734
(980'000)
(2'079'671)
(124'743)
298'914
(506'600)
2'371'782
(371'685)
1'119
(37'148)
1'285'650
(1'644'686)
(113'762)
Target Price
88
82
86
80
88
81
80
76
#N/A N/A
73
78
75
80
87
77
#N/A N/A
77
76
67
66
#N/A N/A
77
74
75
#N/A N/A
File Dt
25.03.2013
22.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
9 month
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
25.03.2013
22.03.2013
22.03.2013
21.03.2013
20.03.2013
19.03.2013
19.03.2013
18.03.2013
11.03.2013
08.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
06.03.2013
06.03.2013
23.02.2013
19.02.2013
25.01.2013
25.01.2013
23.10.2012
26.03.2013
Intel Corp
Intel Corporation designs, manufactures, and sells computer components and
related products. The Company's major products include microprocessors,
chipsets, embedded processors and microcontrollers, flash memory products,
graphics products, network and communications products, systems management
software, conferencing products, and digital imaging products.
Price/Volume
30.0 M
25.0 M
20.0 M
15
12/2012
12/yy
29.27
19.23
3'444'290.00
21.46
-26.68%
11.60%
19.12%
4'946.0
106'141.16
13'448.00
0.0
0.0
22'586.00
97'003.16
15.0 M
10
10.0 M
5.0 M
0
m-12
31.12.2009
31.12.2010
35'127.0
43'623.0
2.84x
2.16x
10'994.0
20'226.0
9.08x
4.65x
4'369.0
11'464.0
16.80x
10.37x
Profitability
LTM-4Q
31.12.2011
53'999.0
2.10x
23'541.0
4.81x
12'942.0
9.59x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
53'341.0
1.70x
22'160.0
4.10x
11'005.0
9.50x
22'160.00
14'638.00
27.44%
27.88%
14.16%
22.66%
18.78%
0.69%
62.1%
41.5%
27.4%
20.6%
2.43
1.71
15.94%
26.26%
14.26
4.57
j-12
j-12
LTM
12/yy
53'999.0
7.72x
23'541.0
4.81x
12'942.0
9.78x
a-12
12/yy
53'341.0
8.56x
22'160.0
4.10x
11'005.0
9.50x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
4.05
1.01
4'769.01
216.01
-21.03%
5.13%
1.014
53
3.491
7'926'692
9'448'922
9'479'995
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
53'942.2
56'526.9
12'663.6
12'920.5
1.90x
1.81x
8.11x
7.98x
20'993.2
22'865.8
4'601.8
4'574.9
4.64x
4.26x
4.69x
4.54x
10'397.5
11'205.2
2'241.9
2'265.2
10.61x
9.83x
10.40x
10.04x
S&P Issuer Ratings
17.02.1993
A+
STABLE
17.02.1993
A-1+
67.15
33.74
-0.41
0.61
26.3%
20.8%
0.69
2.07
25.53
79.60
52.25
52.88
Sales/Revenue/Turnover
12.00
60'000.0
10.00
50'000.0
8.00
40'000.0
6.00
30'000.0
4.00
20'000.0
2.00
10'000.0
0.00
01.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
35.0 M
25
20
Valuation Analysis
31.12.2008
37'586.0
1.81x
14'280.0
4.76x
5'292.0
12.66x
30
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Intel Corp
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
MOORE GORDON EARLE
VANGUARD GROUP INC
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
INVESCO LTD
WELLINGTON MANAGEMEN
HARRIS ASSOCIATES LP
ALLIANZ ASSET MANAGE
CAPITAL GROUP COMPAN
BANK OF AMERICA CORP
FRANKLIN RESOURCES
NORGES BANK
STATE FARM MUTUAL AU
DEUTSCHE BANK AG
LOOMIS SAYLES & COMP
GOLDMAN SACHS GROUP
STATE FARM MUTUAL AU
Firm Name
Sanford C. Bernstein & Co
BMO Capital Markets
Wells Fargo Securities, LLC
Piper Jaffray
Drexel Hamilton LLC
Sterne, Agee & Leach
Evercore Partners
MKM Partners
Argus Research Corp
JPMorgan
B Riley & Company, Inc
Miller Tabak + Co., LLC
Susquehanna Financial Group
FBR Capital Markets
Longbow Research
Stifel
Barclays
Robert W. Baird & Co
Williams Financial Group
Cowen and Company
Maxim Group LLC
Pacific Crest Securities
Canaccord Genuity Corp
Edward Jones
ISI Group
JMP Securities
RBC Capital Markets
Needham & Co
Lazard Capital Markets
Raymond James
Nomura
Jefferies
Hamburger Sparkasse
Morgan Stanley
Crowell, Weedon & Co
Daiwa Securities Co. Ltd.
Deutsche Bank
Roth Capital Partners
Credit Suisse
Macquarie
Independent Research GmbH
Oppenheimer & Co
S&P Capital IQ
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
INVESCO LTD
WELLINGTON MANAGEMEN
HARRIS ASSOC LP
n/a
n/a
BANK OF AMERICA
n/a
NORGES BANK
STATE FARM MUTUAL AU
DEUTSCHE BANK AKTIEN
LOOMIS SAYLES & CO L
GOLDMAN SACHS GROUP
STATE FARM MUTUAL AU
Analyst
STACY A RASGON
AMBRISH SRIVASTAVA
DAVID M WONG
AUGUSTE P RICHARD
RICHARD WHITTINGTON
VIJAY R RAKESH
PATRICK WANG
DANIEL A BERENBAUM
JAMES KELLEHER
CHRISTOPHER DANELY
CRAIG ELLIS
BRENDAN FURLONG
CHRISTOPHER CASO
CHRISTOPHER ROLLAND
JOANNE FEENEY
KEVIN E CASSIDY
BLAYNE CURTIS
TRISTAN GERRA
CODY G ACREE
TIMOTHY M ARCURI
ASHOK KUMAR
MICHAEL MCCONNELL
ROBERT BURLESON
WILLIAM C KREHER
SUMIT DHANDA
ALEX GAUNA
DOUG FREEDMAN
N QUINN BOLTON
DANIEL L AMIR
HANS C MOSESMANN
ROMIT SHAH
MARK J LIPACIS
MARCO GUENTHER
JOSEPH MOORE
JAMES D RAGAN
YOKO YAMADA
ROSS C SEYMORE
KRISHNA SHANKAR
JOHN W PITZER
SHAWN WEBSTER
MARKUS FRIEBEL
RICHARD SCHAFER
ANGELO ZINO
Source
ULT-AGG
13F
ULT-AGG
Form 4
MF-AGG
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
Sch-D
Recommendation
underperform
market perform
outperform
neutral
hold
neutral
equalweight
buy
buy
neutral
neutral
hold
neutral
market perform
neutral
buy
equalweight
outperform
hold
neutral
buy
sector perform
hold
hold
buy
market outperform
sector perform
hold
buy
underperform
reduce
hold
buy
Underwt/In-Line
buy
neutral
buy
neutral
outperform
outperform
buy
market perform
hold
Amt Held
275'299'132
224'362'465
212'932'389
172'992'357
139'771'578
107'648'009
76'183'909
73'349'858
71'696'575
64'099'640
62'419'311
56'437'200
42'262'952
40'574'173
40'236'837
39'078'900
38'661'945
36'009'427
35'339'649
34'886'904
% Out
5.57
4.54
4.31
3.5
2.83
2.18
1.54
1.48
1.45
1.3
1.26
1.14
0.85
0.82
0.81
0.79
0.78
0.73
0.71
0.71
Weighting
Change
1
3
5
3
3
3
3
5
5
3
3
3
3
3
3
5
3
5
3
3
5
3
3
3
5
4
3
3
5
1
2
3
5
1
5
3
5
3
5
5
5
3
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(4'738'268)
4'358'835
5'220'014
(1'255'200)
7'796'302
231'840
(7'774'199)
2'772'732
3'284'665
1'725'102
(1'073'550)
2'352'168
14'347'374
3'652'891
(11'739'300)
9'367'763
4'046'035
(2'267'980)
9'192
Target Price
18
21
#N/A N/A
21
22
18
22
24
25
19
24
23
21
23
#N/A N/A
28
20
26
#N/A N/A
#N/A N/A
29
#N/A N/A
20
#N/A N/A
25
26
24
#N/A N/A
26
#N/A N/A
19
24
#N/A N/A
20
26
21
26
20
28
26
27
#N/A N/A
#N/A N/A
File Dt
22.03.2013
31.12.2012
25.03.2013
02.03.2005
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
28.02.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
30.09.2012
Date
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
9 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
18 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Insurance Company
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Date
26.03.2013
25.03.2013
25.03.2013
25.03.2013
25.03.2013
24.03.2013
24.03.2013
22.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
20.03.2013
20.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
11.03.2013
11.03.2013
06.03.2013
06.03.2013
05.03.2013
04.03.2013
27.02.2013
26.02.2013
26.02.2013
26.02.2013
25.02.2013
25.02.2013
22.02.2013
12.02.2013
31.01.2013
29.01.2013
22.01.2013
18.01.2013
18.01.2013
18.01.2013
18.01.2013
18.01.2013
18.01.2013
18.01.2013
26.03.2013
Price/Volume
250
8.0 M
200
6.0 M
5.0 M
4.0 M
100
12/2012
12/yy
215.90
181.87
174'681.00
212.23
-1.70%
16.69%
84.84%
1'114.5
236'532.41
33'269.00
0.0
124.0
11'129.00
258'796.40
3.0 M
2.0 M
50
1.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
7.0 M
150
Valuation Analysis
31.12.2008
103'630.0
1.29x
21'388.0
6.25x
12'334.0
9.42x
9.0 M
31.12.2009
31.12.2010
95'759.0
99'870.0
1.91x
1.98x
22'009.0
22'981.0
8.32x
8.59x
13'425.0
14'833.0
13.08x
12.74x
Profitability
LTM-4Q
31.12.2011
106'916.0
2.18x
25'101.0
9.30x
15'855.0
13.68x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
104'507.0
2.26x
25'119.0
9.41x
16'604.0
12.56x
25'119.00
20'443.00
19.56%
20.96%
14.09%
85.15%
32.66%
0.89%
48.1%
24.0%
19.6%
15.9%
1.13
0.91
27.91%
176.40%
3.68
22.21
LTM
FY+1
1.55
0.90
1'113.11
13.42
3.91%
11.26%
0.904
33
3.879
952'469
1'061'460
1'006'498
FY+2
FQ+1
FQ+2
12/yy
12/yy
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
106'915.0 104'507.0 106'288.6 109'013.2
24'671.1
26'180.6
8.38x
9.55x
2.43x
2.34x
10.50x
9.89x
25'100.0
25'121.0
28'609.1
30'016.2
5'694.7
6'994.5
9.30x
9.41x
9.05x
8.63x
8.94x
8.81x
15'856.0
16'604.0
18'371.7
19'292.9
3'435.9
4'384.7
13.63x
12.52x
12.66x
11.53x
12.63x
12.36x
S&P Issuer Ratings
Long-Term Rating Date
30.05.2012
Long-Term Rating
AALong-Term Outlook
STABLE
Short-Term Rating Date
30.05.2012
Short-Term Rating
A-1+
Credit Ratios
EBITDA/Interest Exp.
52.66
(EBITDA-Capex)/Interest Exp.
44.10
Net Debt/EBITDA
0.88
Total Debt/EBITDA
1.32
Reference
Total Debt/Equity
176.4%
Total Debt/Capital
63.7%
Asset Turnover
0.89
Net Fixed Asset Turnover
7.50
Accounts receivable turnover-days
99.44
Inventory Days
16.48
Accounts Payable Turnover Day
55.92
Cash Conversion Cycle
60.00
Sales/Revenue/Turnover
14.00
120'000.0
12.00
100'000.0
10.00
80'000.0
8.00
60'000.0
6.00
40'000.0
4.00
20'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BERKSHIRE HATHAWAY I
STATE STREET
BLACKROCK
VANGUARD GROUP INC
VANGUARD GROUP INC
STATE FARM MUTUAL AU
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
WELLINGTON MANAGEMEN
FMR LLC
STATE FARM MUTUAL AU
BANK OF AMERICA CORP
JP MORGAN
NORGES BANK
TIAA CREF INVESTMENT
NEUBERGER BERMAN LLC
GEODE CAPITAL MANAGE
CAPITAL GROUP COMPAN
GOLDMAN SACHS GROUP
FRANKLIN RESOURCES
Firm Name
Argus Research Corp
Topeka Capital Markets Inc
Janney Montgomery Scott LLC
Stifel
Sanford C. Bernstein & Co
Wells Fargo Securities, LLC
BMO Capital Markets
Societe Generale
Daiwa Securities Co. Ltd.
Morgan Stanley
RBC Capital Markets
Credit Suisse
Edward Jones
JPMorgan
Jefferies
Sterne, Agee & Leach
Evercore Partners
Cowen and Company
Credit Agricole Securities (USA)
ISI Group
Barclays
Tigress Financial Partners
Hamburger Sparkasse
Independent Research GmbH
Macquarie
S&P Capital IQ
EVA Dimensions
Deutsche Bank
Goldman Sachs
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
Multiple Portfolios
STATE FARM MUTUAL AU
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
WELLINGTON MANAGEMEN
n/a
STATE FARM MUTUAL AU
BANK OF AMERICA
n/a
NORGES BANK
TIAA-CREF INVESTMENT
NEUBERGER BERMAN GRO
GEODE CAPITAL MANAGE
n/a
GOLDMAN SACHS GROUP
n/a
Analyst
JAMES KELLEHER
BRIAN J WHITE
JOSEPH D FORESI
DAVID M GROSSMAN
TONI SACCONAGHI
MAYNARD UM
KEITH F BACHMAN
RICHARD NGUYEN
KAZUYA NISHIMURA
KATHRYN HUBERTY
AMIT DARYANANI
KULBINDER GARCHA
JOSH OLSON
MARK A MOSKOWITZ
PETER J MISEK
SHAW WU
ROBERT CIHRA
MOSHE KATRI
EDWARD MAGUIRE
BRIAN MARSHALL
BENJAMIN A REITZES
IVAN FEINSETH
MARCO GUENTHER
MARKUS FRIEBEL
BRAD A ZELNICK
JIM YIN
ANDREW S ZAMFOTIS
CHRISTOPHER WHITMORE
WILLIAM C SHOPE JR
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
MF-AGG
13F
13F
13F
13F
ULT-AGG
Sch-D
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
ULT-AGG
Recommendation
buy
buy
neutral
buy
market perform
market perform
market perform
hold
outperform
Equalwt/In-Line
sector perform
neutral
buy
neutral
hold
buy
overweight
outperform
outperform
cautious
overweight
neutral
hold
hold
neutral
buy
overweight
buy
Buy/Neutral
Amt Held
68'115'484
62'434'847
54'978'479
51'157'308
33'497'048
16'651'892
16'291'957
15'370'081
11'350'421
9'957'628
9'701'364
9'228'652
9'207'955
9'100'412
8'364'296
7'050'925
7'037'283
7'023'173
5'610'385
5'598'716
% Out
6.11
5.6
4.93
4.59
3.01
1.49
1.46
1.38
1.02
0.89
0.87
0.83
0.83
0.82
0.75
0.63
0.63
0.63
0.5
0.5
Weighting
Change
5
5
3
5
3
3
3
3
5
3
3
3
5
3
3
5
5
5
5
2
5
3
3
3
3
5
5
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
Latest Chg
597'588
502'319
(41'582)
686'349
(210'207)
681'009
407'981
(4'922'594)
(16'134)
70'243
(523'631)
429'602
(98'584)
(315'214)
(762'456)
(733'364)
(184'705)
(112'134)
Target Price
235
251
209
241
225
#N/A N/A
233
201
230
#N/A N/A
215
200
#N/A N/A
198
225
230
235
#N/A N/A
225
#N/A N/A
240
#N/A N/A
#N/A N/A
215
215
227
#N/A N/A
240
233
File Dt
31.12.2012
25.03.2013
22.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
30.09.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
28.02.2013
Date
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
9 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Investment Advisor
Unclassified
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
25.03.2013
25.03.2013
22.03.2013
22.03.2013
21.03.2013
15.03.2013
14.03.2013
07.03.2013
06.03.2013
01.03.2013
01.03.2013
01.03.2013
01.03.2013
01.03.2013
01.03.2013
01.03.2013
01.03.2013
01.03.2013
01.03.2013
28.02.2013
28.02.2013
20.02.2013
29.01.2013
25.01.2013
23.01.2013
23.01.2013
15.01.2013
29.09.2012
19.07.2012
26.03.2013
Price/Volume
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
12.0 M
10.0 M
60
12/2012
12/yy
80.39
61.71
1'145'911.00
80.26
-0.16%
30.06%
98.57%
2'795.3
224'352.31
16'165.00
0.0
0.0
21'089.00
219'428.32
50
8.0 M
40
6.0 M
30
4.0 M
20
2.0 M
10
0
m-12
31.12.2009
31.12.2010
61'897.0
61'587.0
2.79x
2.57x
19'550.0
19'466.0
8.82x
8.14x
12'266.0
13'334.0
13.91x
12.99x
Profitability
LTM-4Q
31.12.2011
65'030.0
2.55x
19'311.0
8.60x
9'672.0
13.12x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
67'224.0
2.80x
20'698.0
9.09x
10'853.0
13.62x
20'698.00
17'032.00
25.34%
20.49%
9.24%
17.81%
13.83%
0.57%
67.8%
30.8%
25.3%
16.1%
1.90
1.34
13.32%
24.94%
6.14
3.14
j-12
j-12
LTM
01/yy
65'030.0
10.10x
19'311.0
8.60x
9'672.0
13.12x
a-12
12/yy
67'224.0
10.84x
20'698.0
9.09x
10'853.0
13.57x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
2.99
0.66
2'793.74
102.97
27.58%
15.41%
0.656
27
3.963
2'093'762
2'656'677
2'565'268
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
71'233.2
74'146.8
17'455.2
17'825.6
2.99x
2.76x
12.74x
12.34x
22'830.0
24'341.3
5'851.3
5'858.5
9.62x
9.03x
9.66x
9.55x
15'312.6
16'204.1
4'014.9
3'967.7
14.83x
13.92x
14.79x
14.57x
S&P Issuer Ratings
17.09.1987
AAA
STABLE
14.07.1987
A-1+
31.99
27.46
-0.24
0.78
24.9%
20.0%
0.57
4.36
59.26
115.80
91.97
83.09
Sales/Revenue/Turnover
16.00
80'000.0
14.00
70'000.0
12.00
60'000.0
10.00
50'000.0
8.00
40'000.0
6.00
30'000.0
4.00
20'000.0
2.00
10'000.0
0.00
08.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
14.0 M
80
70
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (01.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 19.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
JNJ UN EQUITY YTD Change
JNJ UN EQUITY YTD % CHANGE
90
0.0
08.07.2010
08.01.2011
08.07.2011
08.01.2012
08.07.2012
08.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
STATE STREET
BLACKROCK
VANGUARD GROUP INC
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
FMR LLC
NORTHERN TRUST CORPO
CAPITAL GROUP COMPAN
STATE FARM MUTUAL AU
SUN LIFE FINANCIAL I
T ROWE PRICE ASSOCIA
JP MORGAN
FRANKLIN RESOURCES
GRANTHAM MAYO VAN OT
STATE FARM MUTUAL AU
NORGES BANK
ABERDEEN
BANK OF AMERICA CORP
GEODE CAPITAL MANAGE
Firm Name
Sanford C. Bernstein & Co
Edward Jones
Cowen and Company
Leerink Swann & Co
Morgan Stanley
Jefferies
S&P Capital IQ
Wells Fargo Securities, LLC
Independent Research GmbH
Credit Suisse
Barclays
CL King & Associates
Argus Research Corp
Piper Jaffray
RBC Capital Markets
JPMorgan
Raymond James
Hilliard Lyons
Stifel
Atlantic Equities LLP
EVA Dimensions
Deutsche Bank
Goldman Sachs
First Global Stockbroking
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
Multiple Portfolios
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
n/a
NORTHERN TRUST CORPO
n/a
STATE FARM MUTUAL AU
n/a
T ROWE PRICE ASSOCIA
n/a
n/a
GRANTHAM MAYO VAN OT
STATE FARM MUTUAL AU
NORGES BANK
n/a
BANK OF AMERICA
GEODE CAPITAL MANAGE
Analyst
DERRICK SUNG
JUDSON CLARK
JOSHUA JENNINGS
DANIELLE ANTALFFY
DAVID R LEWIS
JEFFREY HOLFORD
HERMAN SAFTLAS
LAWRENCE BIEGELSEN
CHRISTOPH SCHOENDUBE
CATHERINE J ARNOLD
CHARLES ANTHONY BUTLER
ROBERT M GOLDMAN
DAVID H TOUNG
MATT MIKSIC
GLENN J NOVARRO
MICHAEL N WEINSTEIN
JAYSON BEDFORD
STEPHEN A O'NEIL
FREDERICK A WISE
RICHARD J PURKISS
ANDREW S ZAMFOTIS
KRISTEN M STEWART
JAMI E RUBIN
KAVITA THOMAS
Source
ULT-AGG
ULT-AGG
13F
MF-AGG
13F
13F
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
Sch-D
13F
ULT-AGG
13F
13F
Recommendation
outperform
buy
outperform
outperform
Equalwt/In-Line
hold
buy
outperform
sell
underperform
overweight
neutral
buy
neutral
sector perform
overweight
outperform
long-term buy
hold
overweight
overweight
buy
sell/attractive
short-term market perform
Amt Held
151'998'735
151'664'669
122'904'565
76'423'746
52'447'830
51'998'288
43'710'806
40'796'847
38'245'458
37'878'592
33'453'266
28'243'897
26'049'918
25'806'693
23'162'101
22'519'722
22'053'497
21'436'273
20'926'506
18'311'384
% Out
5.44
5.43
4.4
2.73
1.88
1.86
1.56
1.46
1.37
1.36
1.2
1.01
0.93
0.92
0.83
0.81
0.79
0.77
0.75
0.66
Weighting
Change
5
5
5
5
3
3
5
5
1
1
5
3
5
3
3
5
5
5
3
5
5
5
1
3
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
U
D
M
Latest Chg
4'437'395
(1'424'457)
3'889'851
1'200'224
2'397'569
10'359'056
322'072
3'447'100
6'060'512
(1'320'794)
2'890'087
(36'200)
(1'886'750)
11'010
1'865'427
(18'900)
(541'513)
(1'617'668)
Target Price
78
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
79
88
#N/A N/A
67
73
85
#N/A N/A
80
78
71
77
78
90
#N/A N/A
77
#N/A N/A
82
72
#N/A N/A
File Dt
25.03.2013
22.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
28.02.2013
31.12.2012
30.09.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
9 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Insurance Company
Government
Unclassified
Investment Advisor
Investment Advisor
Date
25.03.2013
22.03.2013
22.03.2013
21.03.2013
14.03.2013
14.03.2013
14.03.2013
08.03.2013
06.03.2013
07.02.2013
04.02.2013
28.01.2013
24.01.2013
24.01.2013
23.01.2013
23.01.2013
23.01.2013
22.01.2013
22.01.2013
22.01.2013
15.01.2013
04.01.2013
09.10.2012
23.04.2012
26.03.2013
Price/Volume
30.0 M
25.0 M
20.0 M
30
12/2012
12/yy
51.00
30.83
1'216'482.00
48.6
-4.71%
57.64%
87.70%
3'827.5
186'014.89
695'583.00
9'058.0
0.0
471'833.00
-
15.0 M
20
10.0 M
10
5.0 M
0
m-12
31.12.2009
31.12.2010
115'632.0
115'475.0
11'728.0
17'370.0
14.94x
8.52x
Profitability
LTM-4Q
31.12.2011
110'838.0
18'976.0
6.79x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
108'184.0
21'284.0
7.28x
33.19%
29.80%
0.92%
10.71%
2.42%
0.05%
21.9%
29.48%
356.69%
-
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
LTM
FY+1
2.47
1.30
3'803.28
45.26
8.35%
11.27%
1.302
42
4.381
5'270'174
5'493'650
5'184'295
FY+2
FQ+1
FQ+2
12/yy
12/yy
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
110'838.0 108'184.0 100'232.3 102'735.9
25'771.9
25'234.4
0.00x
0.00x
0.0
0.0
0.00x
0.00x
18'976.0
21'284.0
21'475.7
22'180.2
5'492.8
5'487.8
7.15x
7.41x
8.86x
8.30x
8.87x
8.81x
S&P Issuer Ratings
Long-Term Rating Date
29.11.2011
Long-Term Rating
A
Long-Term Outlook
NEG
Short-Term Rating Date
19.12.2008
Short-Term Rating
A-1
Credit Ratios
EBITDA/Interest Exp.
(EBITDA-Capex)/Interest Exp.
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
356.7%
Total Debt/Capital
77.3%
Asset Turnover
0.05
Net Fixed Asset Turnover
7.58
Accounts receivable turnover-days
Inventory Days
Accounts Payable Turnover Day
Cash Conversion Cycle
Sales/Revenue/Turnover
35.00
140'000.0
30.00
120'000.0
25.00
100'000.0
20.00
80'000.0
15.00
60'000.0
10.00
40'000.0
5.00
20'000.0
0.00
01.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
35.0 M
50
40
Valuation Analysis
31.12.2008
101'491.0
5'605.0
30.32x
60
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
FMR LLC
T ROWE PRICE ASSOCIA
CAPITAL GROUP COMPAN
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
SUN LIFE FINANCIAL I
FRANKLIN RESOURCES
INVESCO LTD
AMERIPRISE FINANCIAL
BANK OF AMERICA CORP
BARROW HANLEY MEWHIN
GOLDMAN SACHS GROUP
UBS
NORGES BANK
MORGAN STANLEY
Firm Name
Mediobanca SpA
Sanford C. Bernstein & Co
JMP Securities
ISI Group
Rafferty Capital Markets
Edward Jones
Robert W. Baird & Co
Raymond James
SunTrust Robinson Humphrey
FBR Capital Markets
Sterne, Agee & Leach
Evercore Partners
Wells Fargo Securities, LLC
Portales Partners
Drexel Hamilton LLC
Scotia Capital
Goldman Sachs
Sandler O'Neill & Partners, LP
S&P Capital IQ
Guggenheim Securities LLC
RBC Capital Markets
HSBC
Barclays
Morgan Stanley
Macquarie
Oppenheimer & Co
Atlantic Equities LLP
Credit Agricole Securities (USA)
Credit Suisse
Buckingham Research Group
Nomura
Keefe, Bruyette & Woods
Daiwa Securities Co. Ltd.
Deutsche Bank
Argus Research Corp
Independent Research GmbH
EVA Dimensions
Meredith Whitney Advisory Group
Oriel Securities Ltd
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
WELLINGTON MANAGEMEN
n/a
T ROWE PRICE ASSOCIA
n/a
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
n/a
INVESCO LTD
AMERIPRISE FINANCIAL
BANK OF AMERICA
BARROW HANLEY MEWHIN
GOLDMAN SACHS GROUP
n/a
NORGES BANK
n/a
Analyst
CHRISTOPHER J WHEELER
JOHN E MCDONALD
DAVID M TRONE
Ed Najarian
RICHARD X BOVE SR
SHANNON L STEMM
DAVID A GEORGE
ANTHONY J POLINI
ERIC WASSERSTROM
PAUL J MILLER JR
TODD L HAGERMAN
ANDREW A MARQUARDT
MATTHEW H BURNELL
CHARLES W PEABODY
DAVID B HILDER
KEVIN R CHOQUETTE
RICHARD N RAMSDEN
JEFFERY HARTE
ERIK M OJA
MARTY L MOSBY III
GERARD S CASSIDY
ROBERT MURPHY
JASON M GOLDBERG
BETSY L GRASECK
THOMAS ALONSO
CHRISTOPHER M KOTOWSKI
RICHARD STAITE
MICHAEL L MAYO
MOSHE A ORENBUCH
JAMES F MITCHELL
GLENN P SCHORR
CHRISTOPHER M MUTASCIO
KAZUKI WATANABE
MATTHEW D O'CONNOR
DAVID RITTER
STEFAN BONGARDT
AUSTIN BURKETT
MEREDITH A WHITNEY
VIVEK RAJA
Source
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
13F
ULT-AGG
Recommendation
outperform
outperform
market perform
buy
buy
buy
outperform
outperform
buy
market perform
buy
equalweight
outperform
underperform
buy
sector outperform
buy/attractive
buy
buy
buy
outperform
neutral
overweight
Overwt/Attractive
outperform
outperform
overweight
underperform
outperform
buy
buy
outperform
neutral
buy
hold
buy
underweight
hold
not rated
Amt Held
238'966'530
169'760'876
165'152'668
104'272'213
104'126'743
94'239'399
73'182'828
70'456'808
58'295'410
53'874'791
51'117'348
48'681'008
48'071'251
39'671'589
38'706'660
30'298'369
30'224'093
29'498'925
29'412'458
25'869'156
% Out
6.24
4.44
4.31
2.72
2.72
2.46
1.91
1.84
1.52
1.41
1.34
1.27
1.26
1.04
1.01
0.79
0.79
0.77
0.77
0.68
Weighting
Change
5
5
3
5
5
5
5
5
5
3
5
3
5
1
5
5
5
5
5
5
5
3
5
5
5
5
5
1
5
5
5
5
3
5
3
5
1
3
#N/A N/A
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
M
Latest Chg
11'970'472
4'475'752
3'978'051
(3'886'885)
(1'910'070)
243'420
(6'969'630)
145'935
2'494'327
(463'400)
1'451'400
61'260
3'556'897
5'009'599
998'725
685'077
(626'412)
(2'185'085)
2'154'863
Target Price
60
56
#N/A N/A
55
61
#N/A N/A
57
50
55
46
52
48
#N/A N/A
#N/A N/A
55
62
56
56
55
61
52
54
56
58
54
64
54
50
54
61
52
54
50
53
#N/A N/A
54
#N/A N/A
43
#N/A N/A
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
28.02.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Government
Investment Advisor
Date
25.03.2013
22.03.2013
22.03.2013
21.03.2013
19.03.2013
18.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
13.03.2013
11.03.2013
08.03.2013
07.03.2013
05.03.2013
05.03.2013
01.03.2013
27.02.2013
27.02.2013
27.02.2013
27.02.2013
27.02.2013
26.02.2013
26.02.2013
26.02.2013
25.02.2013
08.02.2013
25.01.2013
25.01.2013
17.01.2013
15.01.2013
12.10.2012
11.05.2012
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (24.01.2013)
52-Week Low (05.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
LMT UN EQUITY YTD Change
LMT UN EQUITY YTD % CHANGE
12/2012
12/yy
96.31
80.14
149'718.00
93.62
-2.79%
16.82%
75.26%
322.6
30'200.25
6'308.00
0.0
0.0
1'898.00
34'610.25
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
1.8 M
1.6 M
1.4 M
1.2 M
1.0 M
.8 M
.6 M
.4 M
.2 M
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
100
90
80
70
60
50
40
30
20
10
0
m-12
31.12.2009
31.12.2010
43'995.0
45'671.0
0.70x
0.58x
5'269.0
5'321.0
5.87x
4.97x
3'024.0
2'878.0
9.01x
8.38x
Profitability
LTM-4Q
31.12.2011
46'499.0
0.62x
5'124.0
5.63x
2'655.0
8.19x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
47'182.0
0.72x
5'470.0
6.22x
2'745.0
9.06x
5'470.00
4'482.00
9.50%
8.63%
7.17%
527.88%
43.50%
1.23%
11.2%
11.5%
9.4%
5.8%
1.14
0.70
16.32%
16174.36%
7.47
15.46
LTM
12/yy
46'499.0
2.40x
5'279.0
5.46x
2'655.0
8.51x
12/yy
47'182.0
2.73x
5'404.0
6.30x
2'745.0
8.93x
FY+1
4.43
0.74
322.13
8.52
8.38%
2.76%
0.744
22
3.273
376'524
500'373
518'478
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
45'189.7
44'345.8
10'313.7
11'325.5
0.73x
0.74x
3.34x
3.03x
5'341.0
5'476.1
1'205.9
1'313.7
6.48x
6.32x
6.48x
6.32x
2'907.1
2'875.1
662.1
724.1
10.47x
10.32x
10.47x
10.39x
S&P Issuer Ratings
27.04.2007
ANEG
18.04.2002
A-2
14.28
11.82
0.82
1.17
16174.4%
99.4%
1.23
10.16
48.98
23.68
18.62
54.03
Sales/Revenue/Turnover
25.00
50'000.0
45'000.0
40'000.0
20.00
35'000.0
15.00
30'000.0
10.00
25'000.0
20'000.0
15'000.0
10'000.0
5.00
5'000.0
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
STATE STREET
CAPITAL GROUP COMPAN
SUN LIFE FINANCIAL I
BLACKROCK
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
VANGUARD GROUP INC
BANK OF NEW YORK MEL
FIRST EAGLE INVESTME
VERITAS ASSET MANAGE
AMERIPRISE FINANCIAL
NORTHERN TRUST CORPO
ALLIANZ ASSET MANAGE
T ROWE PRICE ASSOCIA
HOTCHKIS & WILEY CAP
JP MORGAN
LSV ASSET MANAGEMENT
BANK OF AMERICA CORP
GEODE CAPITAL MANAGE
MANAGED ACCOUNT ADVI
Firm Name
Stifel
Jefferies
Sanford C. Bernstein & Co
Buckingham Research Group
CRT Capital Group
Goldman Sachs
Cowen and Company
RBC Capital Markets
Drexel Hamilton LLC
Argus Research Corp
Wells Fargo Securities, LLC
Barclays
Deutsche Bank
FBR Capital Markets
Sterne, Agee & Leach
Oppenheimer & Co
Credit Suisse
JPMorgan
EVA Dimensions
Portfolio Name
n/a
n/a
n/a
n/a
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
Multiple Portfolios
BANK OF NEW YORK MEL
FIRST EAGLE INVESTME
VERITAS ASSET MANAGE
AMERIPRISE FINANCIAL
NORTHERN TRUST CORPO
n/a
T ROWE PRICE ASSOCIA
HOTCHKIS AND WILEY
n/a
LSV ASSET MANAGEMENT
BANK OF AMERICA
GEODE CAPITAL MANAGE
MANAGED ACCOUNT ADVI
Analyst
WILLIAM R LOOMIS
HOWARD A RUBEL
DOUGLAS S HARNED
RICHARD SAFRAN
BRIAN W RUTTENBUR
NOAH POPONAK
CAI VON RUMOHR
ROBERT STALLARD
RICHARD WHITTINGTON
NATHANIEL GABRIEL
SAMUEL J PEARLSTEIN
CARTER COPELAND
MYLES WALTON
PATRICK J MCCARTHY
PETER J ARMENT
YAIR REINER
ROBERT M SPINGARN
JOSEPH B NADOL III
CRAIG STERLING
Source
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
MF-AGG
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
Recommendation
hold
hold
outperform
neutral
Fairly Valued
neutral/neutral
neutral
outperform
sell
hold
market perform
equalweight
hold
outperform
neutral
market perform
neutral
neutral
buy
Amt Held
61'087'746
55'460'876
17'648'870
15'361'627
12'642'273
9'628'776
7'713'148
5'287'488
4'526'170
3'861'202
3'690'801
3'618'686
3'521'947
2'870'824
2'672'779
2'406'231
1'976'379
1'869'657
1'786'665
1'768'094
% Out
18.94
17.19
5.47
4.76
3.92
2.98
2.39
1.64
1.4
1.2
1.14
1.12
1.09
0.89
0.83
0.75
0.61
0.58
0.55
0.55
Weighting
Change
3
3
5
3
3
3
3
5
1
3
3
3
3
5
3
3
3
3
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(1'206'487)
258'017
(28'981)
(47'400)
285'293
49'258
(186'163)
392'943
(49'000)
(359'666)
(11'066)
(245'594)
(259'285)
(582'028)
(99'543)
(119'761)
(24'981)
(168'115)
(161'060)
Target Price
#N/A N/A
95
111
91
#N/A N/A
93
#N/A N/A
100
75
#N/A N/A
#N/A N/A
95
96
110
#N/A N/A
#N/A N/A
93
92
#N/A N/A
File Dt
Inst Type
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
Not Provided
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
9 month
Not Provided
Date
25.03.2013
22.03.2013
22.03.2013
22.03.2013
11.03.2013
06.03.2013
25.02.2013
20.02.2013
15.02.2013
07.02.2013
06.02.2013
06.02.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
24.01.2013
24.01.2013
15.01.2013
26.03.2013
Price/Volume
45
12.0 M
40
10.0 M
35
30
8.0 M
25
01/2013
02/yy
39.98
24.77
359'589.00
38
-4.95%
53.41%
87.77%
1'110.0
42'180.00
9'077.00
0.0
0.0
666.00
50'591.00
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
15
4.0 M
10
2.0 M
5
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
6.0 M
20
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (13.02.2013)
52-Week Low (02.08.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 01.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
LOW UN EQUITY YTD Change
LOW UN EQUITY YTD % CHANGE
31.01.2010
31.01.2011
47'220.0
48'815.0
0.75x
0.81x
4'845.0
5'244.0
7.35x
7.56x
1'783.0
2'010.0
17.89x
17.53x
Profitability
LTM-4Q
31.01.2012
50'208.0
0.80x
4'856.0
8.25x
1'839.0
16.09x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.01.2013
50'521.0
1.01x
5'183.0
9.88x
1'959.0
22.82x
5'183.00
3'560.00
7.05%
6.21%
5.91%
12.83%
9.51%
1.53%
34.3%
10.3%
7.0%
3.9%
1.27
0.09
27.79%
65.50%
3.92
LTM
02/yy
50'209.0
2.89x
4'856.0
8.25x
1'838.0
16.39x
02/yy
50'521.0
3.49x
5'182.0
9.88x
1'958.0
22.16x
FY+1
1.63
0.87
1'107.02
39.99
24.32%
7.45%
0.868
27
3.741
1'448'651
1'968'584
1'942'084
FY+2
FQ+1
FQ+2
01/14 Y
01/15 Y
04/13 Q1 07/13 Q2
52'400.6
54'341.5
13'505.3
14'941.3
0.98x
0.98x
3.67x
3.39x
5'661.7
6'107.1
1'423.7
1'852.1
8.95x
8.30x
8.90x
8.72x
2'216.0
2'483.5
562.5
826.2
18.20x
14.96x
18.23x
17.55x
S&P Issuer Ratings
19.09.2012
ANEG
15.11.2011
A-2
12.25
9.39
1.62
1.75
65.5%
39.6%
1.53
2.33
92.96
49.03
-
Sales/Revenue/Turnover
14.00
60'000.0
12.00
50'000.0
10.00
40'000.0
8.00
30'000.0
6.00
20'000.0
4.00
10'000.0
2.00
0.00
29.01.2010
0.0
29.07.2010
29.01.2011
29.07.2011
29.01.2012
29.07.2012
29.01.2013
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
26.03.2013
All
Holder Name
WELLINGTON MANAGEMEN
BLACKROCK
VANGUARD GROUP INC
STATE STREET
FMR LLC
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
CAPITAL GROUP COMPAN
JP MORGAN
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
GOLDMAN SACHS GROUP
AMERIPRISE FINANCIAL
INVESCO LTD
MARSICO CAPITAL MANA
GREENHAVEN ASSOCIATE
GENERAL ELECTRIC COM
MANULIFE ASSET MANAG
NORGES BANK
AMERICAN CENTURY COM
Firm Name
Stifel
Nomura
ISI Group
Raymond James
Robert W. Baird & Co
Sanford C. Bernstein & Co
Goldman Sachs
Longbow Research
Deutsche Bank
Argus Research Corp
Edward Jones
JPMorgan
Telsey Advisory Group
EVA Dimensions
BMO Capital Markets
Morgan Stanley
RBC Capital Markets
Credit Suisse
Janney Montgomery Scott LLC
Jefferies
Canaccord Genuity Corp
Oppenheimer & Co
S&P Capital IQ
Piper Jaffray
Barclays
Gabelli & Co
Portfolio Name
WELLINGTON MANAGEMEN
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
T ROWE PRICE ASSOCIA
n/a
n/a
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
GOLDMAN SACHS GROUP
AMERIPRISE FINANCIAL
INVESCO LTD
MARSICO CAPITAL MANA
GREENHAVEN ASSOCIATE
GENERAL ELECTRIC COM
MANULIFE ASSET MANAG
NORGES BANK
AMERICAN CENTURY COM
Analyst
DAVID A SCHICK
ARAM RUBINSON
GREGORY MELICH
BUDD BUGATCH
PETER S BENEDICT
COLIN MCGRANAHAN
MATTHEW J FASSLER
DAVID S MACGREGOR
MICHAEL BAKER
CHRISTOPHER GRAJA
ROBIN DIEDRICH
CHRISTOPHER HORVERS
JOSEPH I FELDMAN
CRAIG STERLING
WAYNE HOOD
DAVID GOBER
R SCOT CICCARELLI
GARY BALTER
DAVID S STRASSER
DANIEL T BINDER
LAURA A CHAMPINE
BRIAN NAGEL
MICHAEL SOUERS
PETER J KEITH
ALAN M RIFKIN
PATRICK TODD
Source
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
13F
13F
Recommendation
hold
buy
neutral
market perform
outperform
market perform
Buy/Neutral
buy
buy
buy
buy
neutral
no rating system
underweight
market perform
Overwt/In-Line
outperform
outperform
neutral
hold
sell
outperform
sell
neutral
equalweight
buy
Amt Held
82'361'574
73'307'137
60'066'366
49'718'698
41'521'954
41'364'669
31'778'608
31'005'900
20'993'613
17'043'334
15'343'793
14'947'601
14'209'504
13'914'264
13'130'326
12'040'454
9'865'393
9'494'338
9'197'191
8'971'699
% Out
7.42
6.6
5.41
4.48
3.74
3.73
2.86
2.79
1.89
1.54
1.38
1.35
1.28
1.25
1.18
1.08
0.89
0.86
0.83
0.81
Weighting
Change
3
5
3
3
5
3
5
5
5
5
5
3
#N/A N/A
1
3
5
5
5
3
3
1
5
1
3
3
5
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(3'257'304)
1'209'692
(769'281)
(1'185'350)
13'167'175
(11'575)
(4'476'723)
(2'008'862)
(426'607)
(868'843)
6'577'382
1'833'651
12'469'043
(476'910)
(1'254'239)
(1'576'716)
(2'680'099)
336'408
Target Price
#N/A N/A
44
40
#N/A N/A
45
43
42
45
41
44
#N/A N/A
40
43
#N/A N/A
37
43
43
44
33
35
27
46
32
41
35
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
9 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Corporation
Investment Advisor
Government
Investment Advisor
Date
26.03.2013
25.03.2013
24.03.2013
21.03.2013
13.03.2013
12.03.2013
10.03.2013
08.03.2013
26.02.2013
26.02.2013
26.02.2013
26.02.2013
26.02.2013
26.02.2013
25.02.2013
25.02.2013
25.02.2013
25.02.2013
25.02.2013
25.02.2013
25.02.2013
25.02.2013
25.02.2013
25.02.2013
25.02.2013
07.03.2012
26.03.2013
Mastercard Inc
MasterCard, Inc. is a global payment solutions company that provides a variety
of services in support of the credit, debit and related payment programs of
financial institutions. The Company offers transaction processing services for
credit and debit cards, electronic cash, automated teller machines, and
travelers checks.
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (01.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 07.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
MA UN EQUITY YTD Change
MA UN EQUITY YTD % CHANGE
Price/Volume
12/2012
12/yy
537.19
390.00
102'477.00
535.55
-0.31%
37.32%
89.87%
118.0
65'719.11
0.00
0.0
12.0
5'003.00
60'728.11
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
.6 M
500
.5 M
400
.4 M
300
.3 M
200
.2 M
100
.1 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
600
31.12.2009
31.12.2010
5'098.7
5'539.0
6.26x
4.52x
2'408.2
2'905.0
13.25x
8.62x
1'462.5
1'846.0
21.55x
15.92x
Profitability
LTM-4Q
31.12.2011
6'714.0
6.38x
3'677.0
11.65x
1'906.0
19.92x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
7'391.0
7.52x
4'187.0
13.27x
2'759.0
22.29x
4'187.00
3'957.00
53.54%
53.20%
23.83%
43.16%
43.29%
0.64%
56.6%
53.5%
37.3%
1.91
1.21
0.00%
0.00%
8.53
-
12/yy
6'714.0
21.02x
3'677.0
11.50x
1'906.0
19.91x
LTM
12/yy
7'391.0
27.46x
4'187.0
13.27x
2'759.0
22.28x
FY+1
0.20
1.00
105.66
1.52
23.24%
9.07%
0.995
42
4.381
172'261
175'345
205'003
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
8'261.5
9'280.9
1'935.0
2'024.9
7.29x
6.24x
31.56x
29.88x
4'823.1
5'555.6
1'181.7
1'203.5
12.61x
10.95x
12.62x
12.19x
3'123.6
3'625.4
765.0
782.0
21.07x
17.75x
21.07x
20.20x
S&P Issuer Ratings
19.08.2011
APOS
13.10.2009
A-2
209.35
204.55
-1.19
0.00
0.0%
0.0%
0.64
16.05
42.91
-
Sales/Revenue/Turnover
35.00
8'000.0
30.00
7'000.0
6'000.0
25.00
5'000.0
20.00
4'000.0
15.00
3'000.0
10.00
2'000.0
5.00
1'000.0
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Mastercard Inc
Holdings By:
All
Holder Name
MASTERCARD FOUNDATIO
BLACKROCK
FMR LLC
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
STATE STREET
JENNISON ASSOCIATES
BANK OF NEW YORK MEL
VANGUARD GROUP INC
HARRIS ASSOCIATES LP
JP MORGAN
MORGAN STANLEY
NORTHERN TRUST CORPO
MACQUARIE GROUP
UBS
CAPITAL GROUP COMPAN
JANUS CAPITAL MANAGE
SUN LIFE FINANCIAL I
AMERIPRISE FINANCIAL
AMERICAN CENTURY COM
Firm Name
RBC Capital Markets
Tigress Financial Partners
Janney Montgomery Scott LLC
Jefferies
Pacific Crest Securities
Sanford C. Bernstein & Co
Wells Fargo Securities, LLC
BNP Paribas Equity Research
Evercore Partners
Nomura
Credit Agricole Securities (USA)
Edward Jones
Barclays
Keefe, Bruyette & Woods
Robert W. Baird & Co
Wedbush
Guggenheim Securities LLC
Argus Research Corp
Sterne, Agee & Leach
Stifel
S&P Capital IQ
Portales Partners
Daiwa Securities Co. Ltd.
Telsey Advisory Group
William Blair & Co
FBR Capital Markets
Macquarie
Cowen and Company
Credit Suisse
SunTrust Robinson Humphrey
JPMorgan
Raymond James
Buckingham Research Group
Oppenheimer & Co
Susquehanna Financial Group
EVA Dimensions
Deutsche Bank
Goldman Sachs
Meredith Whitney Advisory Group
Portfolio Name
n/a
n/a
n/a
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
n/a
JENNISON ASSOCIATES
BANK OF NEW YORK MEL
Multiple Portfolios
HARRIS ASSOC LP
n/a
n/a
NORTHERN TRUST CORPO
n/a
n/a
n/a
n/a
n/a
AMERIPRISE FINANCIAL
AMERICAN CENTURY COM
Analyst
DANIEL R PERLIN
IVAN FEINSETH
THOMAS C MCCROHAN
JASON KUPFERBERG
JAMES FAUCETTE
RODERICK BOURGEOIS
TIMOTHY W WILLI
ARVIND RAMNANI
DAVID M TOGUT
BILL CARCACHE
CRAIG J MAURER
JOSH OLSON
DARRIN D PELLER
SANJAY SAKHRANI
DAVID J KONING
GIL B LURIA
DAVID W DARST
DAVID RITTER
GREGORY SMITH
CHRISTOPHER C BRENDLER
SONIA PARECHANIAN
WILLIAM H RYAN
KAZUKI WATANABE
MICHAEL P TAIANO
ROBERT P NAPOLI
SCOTT VALENTIN
KEVIN MCVEIGH
MOSHE KATRI
MOSHE A ORENBUCH
ANDREW W JEFFREY
TIEN-TSIN HUANG
WAYNE JOHNSON
DAVID HOCHSTIM
GLENN GREENE
JAMES E FRIEDMAN
ANDREW S ZAMFOTIS
BRYAN KEANE
JULIO C QUINTEROS JR
MEREDITH A WHITNEY
Source
Form 4
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
MF-AGG
13F
ULT-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
Recommendation
outperform
strong buy
neutral
buy
outperform
market perform
market perform
hold
overweight
buy
buy
hold
overweight
outperform
neutral
neutral
buy
hold
buy
buy
hold
underperform
outperform
no rating system
outperform
outperform
outperform
outperform
outperform
buy
overweight
outperform
buy
outperform
neutral
overweight
buy
Buy/Neutral
outperform
Amt Held
12'153'057
7'459'378
7'087'843
6'685'766
4'855'179
4'103'481
3'780'665
3'078'923
3'049'117
2'752'857
2'124'748
1'579'412
1'508'956
1'469'788
1'459'888
1'319'372
1'305'613
1'296'437
1'291'394
1'287'490
% Out
10.3
6.32
6.01
5.67
4.12
3.48
3.2
2.61
2.58
2.33
1.8
1.34
1.28
1.25
1.24
1.12
1.11
1.1
1.09
1.09
Weighting
Change
5
5
3
5
5
3
3
3
5
5
5
3
5
5
3
3
5
3
5
5
3
1
5
#N/A N/A
5
5
5
5
5
5
5
5
5
5
3
5
5
5
5
M
R
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
Latest Chg
(16'639)
493'062
(296'141)
78'495
17'448
425'776
(26'962)
(20'073)
188'165
401'017
(5'795)
(58'439)
(20'474)
(178'745)
(17'192)
(34'558)
76'521
Target Price
608
#N/A N/A
425
552
600
496
#N/A N/A
560
613
611
625
#N/A N/A
575
623
575
460
625
#N/A N/A
600
630
560
#N/A N/A
590
560
#N/A N/A
575
600
#N/A N/A
600
620
612
550
630
575
548
#N/A N/A
590
575
485
File Dt
18.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
Date
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
9 month
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
Inst Type
Other
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
25.03.2013
22.03.2013
22.03.2013
21.03.2013
21.03.2013
21.03.2013
18.03.2013
18.03.2013
18.03.2013
15.03.2013
13.03.2013
13.03.2013
12.03.2013
12.03.2013
08.03.2013
07.03.2013
06.03.2013
28.02.2013
27.02.2013
27.02.2013
25.02.2013
15.02.2013
10.02.2013
01.02.2013
01.02.2013
01.02.2013
01.02.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
28.01.2013
22.01.2013
09.01.2013
20.09.2012
26.03.2013
McDonald's Corp
McDonald's Corporation franchises and operates fast-food restaurants in the
global restaurant industry. The Company's restaurants serve a variety of
value-priced menu products in countries around the world.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (15.03.2013)
52-Week Low (16.11.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
MCD UN EQUITY YTD Change
MCD UN EQUITY YTD % CHANGE
12/2012
12/yy
99.70
83.32
423'547.00
98.491
-1.21%
18.21%
91.09%
1'002.8
98'765.96
13'632.50
0.0
0.0
2'336.10
110'062.36
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
6.0 M
100
5.0 M
80
4.0 M
60
3.0 M
40
2.0 M
20
1.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
120
31.12.2009
31.12.2010
22'744.7
24'074.6
3.34x
3.74x
7'996.1
8'778.4
9.51x
10.25x
4'551.0
4'946.3
15.69x
16.69x
Profitability
LTM-4Q
31.12.2011
27'006.0
4.17x
9'940.8
11.33x
5'503.1
19.04x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
27'567.0
3.62x
10'101.1
9.87x
5'464.8
16.43x
10'101.10
8'612.60
31.24%
29.31%
15.98%
36.82%
20.83%
0.81%
56.3%
36.6%
31.2%
19.8%
1.45
1.09
38.52%
89.14%
20.34
130.80
LTM
12/yy
27'006.0
14.77x
9'940.8
11.33x
5'503.1
19.00x
12/yy
27'567.0
15.00x
10'101.1
9.87x
5'464.8
16.46x
FY+1
2.91
0.65
1'001.97
14.18
4.93%
12.55%
0.652
33
4.061
1'095'779
1'327'471
1'368'653
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
28'846.4
30'504.3
6'600.9
7'269.9
3.85x
3.66x
16.70x
15.19x
10'481.1
11'150.6
2'318.0
2'637.8
10.50x
9.87x
10.51x
10.34x
5'757.4
6'161.3
1'273.0
1'439.7
17.00x
15.53x
17.03x
16.71x
S&P Issuer Ratings
08.05.2003
A
STABLE
29.10.2001
A-1
18.96
13.24
1.12
1.35
89.1%
47.1%
0.81
1.16
17.99
2.80
24.67
-10.34
Sales/Revenue/Turnover
16.00
30'000.0
14.00
25'000.0
12.00
20'000.0
10.00
8.00
15'000.0
6.00
10'000.0
4.00
5'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
McDonald's Corp
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
FMR LLC
NORTHERN TRUST CORPO
BANK OF AMERICA CORP
BANK OF NEW YORK MEL
DEUTSCHE BANK AG
SUN LIFE FINANCIAL I
GATES FOUNDATION
NORGES BANK
UBS
GRANTHAM MAYO VAN OT
JP MORGAN
GEODE CAPITAL MANAGE
AMERIPRISE FINANCIAL
TIAA CREF INVESTMENT
FRANKLIN RESOURCES
FAYEZ SAROFIM
Firm Name
BMO Capital Markets
Robert W. Baird & Co
Deutsche Bank
JPMorgan
Sanford C. Bernstein & Co
Telsey Advisory Group
Morgan Stanley
Goldman Sachs
Credit Suisse
Jefferies
Raymond James
Independent Research GmbH
Buckingham Research Group
Sterne, Agee & Leach
Davenport & Co
Oppenheimer & Co
Cowen and Company
S&P Capital IQ
Lazard Capital Markets
Susquehanna Financial Group
Piper Jaffray
Credit Agricole Securities (USA)
Barclays
Edward Jones
Atlantic Equities LLP
Argus Research Corp
RBC Capital Markets
Janney Montgomery Scott LLC
Wells Fargo Securities, LLC
EVA Dimensions
Tigress Financial Partners
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
NORTHERN TRUST CORPO
BANK OF AMERICA
BANK OF NEW YORK MEL
DEUTSCHE BANK AKTIEN
n/a
BILL & MELINDA FOUND
NORGES BANK
n/a
GRANTHAM MAYO VAN OT
n/a
GEODE CAPITAL MANAGE
AMERIPRISE FINANCIAL
TIAA-CREF INVESTMENT
n/a
FAYEZ SAROFIM
Analyst
PHILLIP JUHAN
DAVID E TARANTINO
JASON WEST
JOHN W IVANKOE
SARA H SENATORE
PETER SALEH
JOHN S GLASS
MICHAEL KELTER
KEITH SIEGNER
ANDREW M BARISH
BRYAN C ELLIOTT
LARS LUSEBRINK
MITCHELL J SPEISER
LYNNE COLLIER
JEFFREY F OMOHUNDRO
BRIAN J BITTNER
PAUL L WESTRA
JIM YIN
MATTHEW J DIFRISCO
RACHAEL ROTHMAN
NICOLE MILLER REGAN
DIANE GEISSLER
JEFFREY A BERNSTEIN
JACK P RUSSO
ALISTAIR M SCOBIE
JOHN D STASZAK
LARRY A MILLER
MARK D KALINOWSKI
JEFFREY D FARMER
CRAIG STERLING
IVAN FEINSETH
Source
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
Recommendation
market perform
outperform
buy
overweight
market perform
no rating system
Equalwt/In-Line
neutral/neutral
outperform
hold
market perform
hold
neutral
buy
buy
market perform
neutral
buy
neutral
Positive
overweight
buy
overweight
buy
neutral
hold
outperform
buy
outperform
overweight
neutral
Amt Held
61'233'093
51'026'166
50'720'540
34'347'335
31'079'641
17'197'097
14'958'279
14'613'570
12'208'476
10'340'885
9'872'500
8'198'069
7'761'026
7'512'944
6'941'711
6'625'606
6'183'404
5'985'481
5'711'740
5'601'988
% Out
6.11
5.09
5.06
3.43
3.1
1.71
1.49
1.46
1.22
1.03
0.98
0.82
0.77
0.75
0.69
0.66
0.62
0.6
0.57
0.56
Weighting
Change
3
5
5
5
3
#N/A N/A
3
3
5
3
3
3
3
5
5
3
3
5
3
4
5
5
5
5
3
3
5
5
5
5
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
Latest Chg
2'699'048
888'229
1'481'178
(12'999'249)
(25'435)
1'452'933
2'902'349
1'387'592
4'004'304
608'347
(82'448)
484'550
(1'359'123)
(664'990)
(2'133'057)
(450'841)
46'649
(1'850'264)
Target Price
98
102
108
101
100
103
#N/A N/A
104
104
83
#N/A N/A
109
97
101
109
#N/A N/A
#N/A N/A
102
#N/A N/A
109
103
110
99
#N/A N/A
93
#N/A N/A
98
104
#N/A N/A
#N/A N/A
#N/A N/A
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
12 month
9 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Endowment
Government
Unclassified
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
19.03.2013
15.03.2013
11.03.2013
11.03.2013
11.03.2013
10.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
25.02.2013
13.02.2013
28.01.2013
23.01.2013
23.01.2013
23.01.2013
16.01.2013
06.11.2012
26.03.2013
Medtronic Inc
Medtronic, Inc. develops therapeutic and diagnostic medical products. The
Company's principal products include those for bradycardia pacing,
tachyarrhythmia management, atrial fibrillation management, heart failure
management, heart valve replacement, malignant and non-malignant pain, and
movement disorders. Medtronic's products are sold worldwide.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (12.02.2013)
52-Week Low (04.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 01.03.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
MDT UN EQUITY YTD Change
MDT UN EQUITY YTD % CHANGE
04/2012
01/yy
47.40
35.68
275'407.00
46.05
-2.85%
29.06%
85.75%
1'013.8
46'685.77
10'633.00
0.0
0.0
2'592.00
55'639.76
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
4.5 M
4.0 M
3.5 M
3.0 M
2.5 M
2.0 M
1.5 M
1.0 M
.5 M
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
50
45
40
35
30
25
20
15
10
5
0
m-12
30.04.2009
30.04.2010
14'599.0
15'817.0
2.62x
3.40x
5'273.0
5'902.0
7.25x
9.10x
2'070.0
3'099.0
10.88x
13.91x
Profitability
LTM-4Q
30.04.2011
15'508.0
3.36x
5'374.0
9.69x
3'096.0
13.34x
30.04.2012
16'184.0
2.91x
5'680.0
8.30x
3'617.0
11.15x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
5'680.00
4'847.00
29.95%
25.61%
10.44%
19.93%
13.27%
0.49%
76.0%
34.2%
29.4%
22.3%
1.62
1.09
32.14%
62.13%
4.56
2.18
LTM
01/yy
16'054.0
11.96x
5'662.0
8.61x
3'403.0
12.31x
01/yy
16'427.0
12.30x
5'616.0
9.97x
3'489.0
12.89x
FY+1
2.22
0.86
1'010.54
10.74
18.03%
12.26%
0.865
27
3.963
932'001
1'236'574
1'216'684
FY+2
FQ+1
FQ+2
04/13 Y
04/14 Y
04/13 Q4 07/13 Q1
16'522.4
17'042.7
4'393.9
4'131.9
3.22x
3.10x
12.75x
13.47x
6'024.0
6'224.8
1'589.2
1'472.0
9.24x
8.94x
9.22x
9.10x
3'785.9
3'885.5
1'050.6
922.4
12.47x
11.93x
12.07x
11.92x
S&P Issuer Ratings
14.02.2012
A+
STABLE
13.12.2001
A-1+
16.09
14.72
1.59
2.03
62.1%
38.3%
0.49
6.59
79.74
167.08
46.95
197.72
Sales/Revenue/Turnover
14.00
18'000.0
12.00
16'000.0
14'000.0
10.00
12'000.0
8.00
10'000.0
6.00
8'000.0
6'000.0
4.00
4'000.0
2.00
0.00
24.04.2009
2'000.0
0.0
24.10.2009
24.04.2010
24.10.2010
24.04.2011
24.10.2011
24.04.2012
24.10.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Medtronic Inc
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
STATE STREET
FRANKLIN RESOURCES
PRIMECAP MANAGEMENT
VANGUARD GROUP INC
SUN LIFE FINANCIAL I
BARROW HANLEY MEWHIN
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
INVESCO LTD
CAPITAL GROUP COMPAN
UBS
HARRIS ASSOCIATES LP
DODGE & COX
ALLIANZ ASSET MANAGE
DEUTSCHE BANK AG
BANK OF AMERICA CORP
NORGES BANK
Firm Name
JPMorgan
Edward Jones
Leerink Swann & Co
Oppenheimer & Co
Morgan Stanley
Mizuho Securities USA Inc
Jefferies
BMO Capital Markets
Wells Fargo Securities, LLC
Lazard Capital Markets
Barclays
Credit Suisse
Sanford C. Bernstein & Co
Argus Research Corp
RBC Capital Markets
Stifel
Cowen and Company
Northland Securities Inc
William Blair & Co
Wunderlich Securities
Piper Jaffray
EVA Dimensions
Deutsche Bank
Goldman Sachs
McAdams Wright Ragen Inc
Maxim Group LLC
Portfolio Name
n/a
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
n/a
n/a
PRIMECAP MANAGEMENT
Multiple Portfolios
n/a
BARROW HANLEY MEWHIN
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
INVESCO LTD
n/a
n/a
HARRIS ASSOC LP
DODGE & COX
n/a
DEUTSCHE BANK AKTIEN
BANK OF AMERICA
NORGES BANK
Analyst
MICHAEL N WEINSTEIN
JEFF WINDAU
DANIELLE ANTALFFY
STEVEN LICHTMAN
DAVID R LEWIS
MICHAEL S MATSON
RAJ S DENHOY
JOANNE K WUENSCH
LAWRENCE BIEGELSEN
SEAN D LAVIN
MATTHEW TAYLOR
BRUCE NUDELL
DERRICK SUNG
DAVID H TOUNG
GLENN J NOVARRO
FREDERICK A WISE
JOSHUA JENNINGS
BRUCE D JACKSON
BENJAMIN C ANDREW
GREGORY SIMPSON
BROOKS E WEST
ANDREW S ZAMFOTIS
KRISTEN M STEWART
DAVID H ROMAN
MICHAEL ROARKE
ANTHONY PETRONE
Source
ULT-AGG
13F
13F
ULT-AGG
ULT-AGG
13F
MF-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
Recommendation
neutral
hold
market perform
outperform
Equalwt/In-Line
buy
hold
outperform
outperform
neutral
equalweight
outperform
outperform
buy
sector perform
hold
outperform
market perform
market perform
hold
overweight
buy
hold
neutral/neutral
focus list
not rated
Amt Held
57'163'644
52'776'871
51'680'037
44'930'367
41'305'515
36'713'969
36'021'480
30'701'730
29'373'065
21'660'422
13'960'085
11'870'145
11'516'230
10'897'173
10'725'157
10'365'919
9'956'951
9'067'910
8'524'166
8'305'220
% Out
5.64
5.21
5.1
4.43
4.07
3.62
3.55
3.03
2.9
2.14
1.38
1.17
1.14
1.07
1.06
1.02
0.98
0.89
0.84
0.82
Weighting
Change
3
3
3
5
3
5
3
5
5
3
3
5
5
5
3
3
5
3
3
3
5
5
3
3
5
#N/A N/A
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(1'208'497)
1'163'244
(766'827)
(990'392)
396'414
(2'349'030)
(332'323)
(214'689)
1'094'091
94'161
(979'233)
(300'000)
123'693
(199'113)
(617'200)
500'116
(513'246)
714'761
550'668
Target Price
49
#N/A N/A
#N/A N/A
49
#N/A N/A
52
48
52
#N/A N/A
#N/A N/A
48
50
55
54
47
#N/A N/A
#N/A N/A
46
#N/A N/A
46
50
#N/A N/A
46
46
45
#N/A N/A
File Dt
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
28.02.2013
31.12.2012
31.12.2012
31.12.2012
Date
9 month
Not Provided
Not Provided
18 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
18 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Date
25.03.2013
22.03.2013
22.03.2013
22.03.2013
20.03.2013
18.03.2013
14.03.2013
11.03.2013
08.03.2013
07.03.2013
06.03.2013
27.02.2013
26.02.2013
22.02.2013
20.02.2013
20.02.2013
20.02.2013
20.02.2013
19.02.2013
19.02.2013
19.02.2013
15.01.2013
04.01.2013
12.12.2012
19.05.2009
27.01.2009
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (18.10.2012)
52-Week Low (23.05.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
MRK UN EQUITY YTD Change
MRK UN EQUITY YTD % CHANGE
12/2012
12/yy
48.00
37.02
931'881.00
44.22
-7.87%
19.45%
60.75%
3'022.4
133'649.09
20'569.00
0.0
2'443.0
16'141.00
140'520.10
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
31.12.2009
31.12.2010
27'428.3
45'987.0
4.52x
2.59x
7'314.7
11'166.0
16.96x
10.67x
12'901.3
861.0
11.31x
10.54x
Profitability
12.0 M
10.0 M
8.0 M
6.0 M
4.0 M
2.0 M
a-12 m-12
LTM-4Q
31.12.2011
48'047.0
2.49x
17'015.0
7.03x
6'272.0
10.13x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
47'267.0
2.77x
16'855.0
7.76x
6'168.0
11.22x
16'855.00
9'877.00
20.90%
18.49%
6.31%
12.39%
9.75%
0.45%
65.2%
37.0%
22.2%
13.0%
1.90
1.30
19.38%
38.79%
5.93
2.55
j-12
j-12
LTM
12/yy
48'047.0
9.35x
17'296.0
6.92x
6'271.0
10.08x
a-12
12/yy
47'268.0
11.10x
17'488.0
7.48x
6'661.0
10.72x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
3.82
0.79
3'021.14
27.79
19.00%
9.05%
0.792
26
4.346
2'737'668
3'571'044
3'579'786
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
46'226.5
46'809.0
11'135.5
11'569.2
2.80x
2.63x
12.28x
11.74x
17'238.6
17'420.6
3'885.0
4'200.0
8.16x
8.08x
8.55x
11'057.7
11'408.7
2'479.7
2'775.8
12.15x
11.63x
12.19x
11.81x
S&P Issuer Ratings
24.11.2010
AA
STABLE
23.11.1981
A-1+
23.61
20.87
0.25
1.18
38.8%
27.1%
0.45
2.92
61.69
143.60
46.53
157.88
Sales/Revenue/Turnover
30.00
60'000.0
25.00
50'000.0
20.00
40'000.0
15.00
30'000.0
10.00
20'000.0
5.00
10'000.0
0.00
01.01.2010
14.0 M
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
50
45
40
35
30
25
20
15
10
5
0
m-12
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
STATE STREET
FMR LLC
FRANKLIN RESOURCES
VANGUARD GROUP INC
JP MORGAN
BANK OF NEW YORK MEL
DODGE & COX
T ROWE PRICE ASSOCIA
NORTHERN TRUST CORPO
INVESCO LTD
NORGES BANK
GEODE CAPITAL MANAGE
BANK OF AMERICA CORP
DEUTSCHE BANK AG
AMERIPRISE FINANCIAL
UBS
Firm Name
Cowen and Company
Wells Fargo Securities, LLC
BMO Capital Markets
Jefferies
Sanford C. Bernstein & Co
Morgan Stanley
Credit Suisse
JPMorgan
Leerink Swann & Co
ISI Group
Credit Agricole Securities (USA)
Edward Jones
Barclays
Argus Research Corp
MKM Partners
Hilliard Lyons
S&P Capital IQ
Atlantic Equities LLP
EVA Dimensions
Goldman Sachs
MP Advisors Pvt Ltd
Cyrrus
First Global Stockbroking
Crowell, Weedon & Co
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
n/a
n/a
n/a
Multiple Portfolios
n/a
BANK OF NEW YORK MEL
DODGE & COX
T ROWE PRICE ASSOCIA
NORTHERN TRUST CORPO
INVESCO LTD
NORGES BANK
GEODE CAPITAL MANAGE
BANK OF AMERICA
DEUTSCHE BANK AKTIEN
AMERIPRISE FINANCIAL
n/a
Analyst
STEVEN R SCALA
MICHAEL K TONG
ALEX ARFAEI
JEFFREY HOLFORD
TIMOTHY M ANDERSON
DAVID R RISINGER
CATHERINE J ARNOLD
CHRISTOPHER T SCHOTT
SEAMUS FERNANDEZ
MARK J SCHOENEBAUM
KIM-LINH LINH VUKHAC
JUDSON CLARK
CHARLES ANTHONY BUTLER
JOHN M EADE
JON LECROY
STEPHEN A O'NEIL
HERMAN SAFTLAS
RICHARD J PURKISS
ANDREW S ZAMFOTIS
JAMI E RUBIN
VISHAL MANCHANDA
TOMAS MENCIK
KAVITA THOMAS
DOUGLAS A CHRISTOPHER
Source
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
ULT-AGG
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
Recommendation
neutral
outperform
outperform
hold
outperform
Underwt/In-Line
outperform
overweight
market perform
buy
buy
buy
overweight
buy
buy
neutral
buy
overweight
overweight
neutral/attractive
outperform
accumulate
market perform
buy
Amt Held
212'356'280
191'477'299
136'442'430
135'721'376
131'614'703
90'387'720
87'405'611
84'231'583
71'185'993
54'114'547
52'449'719
47'674'146
41'508'488
29'144'071
24'410'941
20'136'718
19'174'220
18'983'436
18'895'196
17'808'259
% Out
7.03
6.34
4.51
4.49
4.35
2.99
2.89
2.79
2.36
1.79
1.74
1.58
1.37
0.96
0.81
0.67
0.63
0.63
0.63
0.59
Weighting
Change
3
5
5
3
5
1
5
5
3
5
5
5
5
5
5
3
5
5
5
3
5
4
3
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(9'714'379)
1'185'871
3'687'572
(1'638'084)
1'548'630
12'766'310
(3'021'094)
148'882
(4'629'942)
(2'111'630)
1'210'726
447'995
84'399
1'817'162
(1'917'960)
(487'816)
3'129'566
(6'323'733)
388'577
Target Price
#N/A N/A
#N/A N/A
47
46
48
#N/A N/A
52
52
#N/A N/A
46
54
#N/A N/A
45
50
52
#N/A N/A
51
49
#N/A N/A
46
50
43
#N/A N/A
48
File Dt
31.12.2012
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
Date
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
9 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Date
26.03.2013
22.03.2013
14.03.2013
14.03.2013
14.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
04.03.2013
13.02.2013
04.02.2013
04.02.2013
01.02.2013
01.02.2013
01.02.2013
15.01.2013
11.01.2013
16.10.2012
05.04.2012
21.06.2011
19.11.2009
26.03.2013
MetLife Inc
MetLife, Inc. provides individual insurance, employee benefits and financial
services with operations throughout the United States and the regions of Latin
America, Europe, and Asia Pacific. The Company's products include life
insurance, annuities, automobile and homeowners insurance, retail banking and
other financial services to individuals as well as group insurance.
Price/Volume
45
12.0 M
40
10.0 M
35
30
8.0 M
25
12/2012
12/yy
40.64
27.65
512'033.00
38.34
-5.66%
38.66%
81.22%
1'093.6
41'928.25
26'550.00
2'100.0
505.0
15'738.00
55'345.25
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
15
4.0 M
10
2.0 M
5
0
m-12
31.12.2009
31.12.2010
41'057.0
52'265.0
1.07x
1.34x
(2'246.0)
2'790.0
12.32x
10.31x
Profitability
LTM-4Q
31.12.2011
70'241.0
0.82x
6'423.0
7.12x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
68'150.0
0.72x
1'324.0
6.24x
6.85%
2.12%
0.16%
2.04%
2.86%
0.08%
1.9%
3.17%
42.58%
-
j-12
j-12
LTM
12/yy
70'242.0
3.78x
0.0
0.00x
6'423.0
7.02x
a-12
12/yy
68'150.0
2.92x
0.0
0.00x
1'324.0
6.25x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
1.93
1.56
890.91
21.60
2.86%
16.97%
1.558
24
4.333
2'164'453
2'220'138
2'019'960
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
69'990.1
72'090.5
17'204.7
17'339.3
0.93x
5'810.0
6'263.3
1'407.3
1'422.9
7.30x
6.81x
7.31x
7.23x
S&P Issuer Ratings
ASTABLE
42.6%
29.0%
0.08
-
Sales/Revenue/Turnover
10.00
80'000.0
9.00
70'000.0
8.00
60'000.0
7.00
50'000.0
6.00
5.00
40'000.0
4.00
30'000.0
3.00
20'000.0
2.00
10'000.0
1.00
0.00
01.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
6.0 M
20
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (14.03.2013)
52-Week Low (05.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 19.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
MET UN EQUITY YTD Change
MET UN EQUITY YTD % CHANGE
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
MetLife Inc
Holdings By:
All
Holder Name
METLIFE POLICY HOLDE
BLACKROCK
STATE STREET
VANGUARD GROUP INC
FMR LLC
JP MORGAN
SUN LIFE FINANCIAL I
VANGUARD GROUP INC
BANK OF NEW YORK MEL
FRANKLIN RESOURCES
T ROWE PRICE ASSOCIA
GOLDMAN SACHS GROUP
DEUTSCHE BANK AG
DODGE & COX
NORTHERN TRUST CORPO
ALLIANZ ASSET MANAGE
NORGES BANK
WELLINGTON MANAGEMEN
AMERIPRISE FINANCIAL
DIMENSIONAL FUND ADV
Firm Name
FBR Capital Markets
S&P Capital IQ
Sterne, Agee & Leach
Portales Partners
Evercore Partners
Deutsche Bank
Argus Research Corp
Janney Montgomery Scott LLC
Macquarie
Morgan Stanley
RBC Capital Markets
Credit Suisse
JPMorgan
Keefe, Bruyette & Woods
Raymond James
Sandler O'Neill & Partners, LP
Scotia Capital
Wells Fargo Securities, LLC
Barclays
EVA Dimensions
Goldman Sachs
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
n/a
n/a
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
n/a
T ROWE PRICE ASSOCIA
GOLDMAN SACHS GROUP
DEUTSCHE BANK AKTIEN
DODGE & COX
NORTHERN TRUST CORPO
n/a
NORGES BANK
WELLINGTON MANAGEMEN
AMERIPRISE FINANCIAL
DIMENSIONAL FUND ADV
Analyst
RANDY BINNER
CATHY SEIFERT
JOHN M NADEL
NINA GUPTA
MARK FINKELSTEIN
YARON KINAR
JOHN M EADE
LARRY GREENBERG
SEAN DARGAN
NIGEL P DALLY
ERIC N BERG
THOMAS GALLAGHER
JIMMY S BHULLAR
JEFFREY SCHUMAN
STEVEN D SCHWARTZ
EDWARD SHIELDS
JOANNE SMITH
JOHN A HALL
JAY H GELB
AUSTIN BURKETT
CHRISTOPHER GIOVANNI
Source
13D
ULT-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
Recommendation
outperform
buy
buy
sector perform
overweight
hold
buy
neutral
outperform
Overwt/In-Line
sector perform
outperform
overweight
outperform
outperform
buy
focus stock
outperform
equalweight
underweight
buy/attractive
Amt Held
201'024'039
52'515'080
48'490'046
41'416'690
36'642'769
35'549'122
25'569'383
24'782'128
22'437'292
18'136'084
18'025'332
17'492'065
15'626'592
15'437'200
13'412'130
13'290'582
9'241'988
9'118'347
8'831'580
8'745'373
% Out
18.38
4.8
4.43
3.79
3.35
3.25
2.34
2.27
2.05
1.66
1.65
1.6
1.43
1.41
1.23
1.22
0.85
0.83
0.81
0.8
Weighting
Change
5
5
5
3
5
3
5
3
5
5
3
5
5
5
5
5
5
5
3
1
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(2'552'799)
(1'885'712)
4'846'845
1'333'652
(5'204'712)
874'502
1'540'508
744'827
6'030'319
605'225
1'940'893
(1'360'601)
15'437'200
351'832
(482'007)
(3'327'696)
(1'067'997)
(4'077'272)
(19'860)
Target Price
50
46
48
#N/A N/A
40
40
46
#N/A N/A
45
45
50
44
41
42
44
44
47
#N/A N/A
37
#N/A N/A
45
File Dt
26.02.2013
22.03.2013
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
28.02.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
9 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Inst Type
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
19.03.2013
11.03.2013
06.03.2013
28.02.2013
21.02.2013
19.02.2013
15.02.2013
15.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
14.02.2013
13.02.2013
15.01.2013
08.01.2013
26.03.2013
Microsoft Corp
Microsoft Corporation develops, manufactures, licenses, sells, and supports
software products. The Company offers operating system software, server
application software, business and consumer applications software, software
development tools, and Internet and intranet software. Microsoft also develops
video game consoles and digital music entertainment devices.
Price/Volume
35
30
25
20
Valuation Analysis
15
06/2012
12/yy
32.89
26.26
2'197'460.00
28.245
-14.11%
7.56%
28.68%
8'376.2
236'587.05
11'944.00
0.0
0.0
63'040.00
182'463.04
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
5
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
10
50.0 M
45.0 M
40.0 M
35.0 M
30.0 M
25.0 M
20.0 M
15.0 M
10.0 M
5.0 M
.0 M
f-13 m-13
30.06.2009
30.06.2010
58'437.0
62'484.0
3.18x
2.70x
23'255.0
26'830.0
8.00x
6.28x
14'569.0
18'760.0
13.66x
10.96x
Profitability
LTM-4Q
30.06.2011
69'943.0
2.53x
29'927.0
5.91x
23'150.0
9.85x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
30.06.2012
73'723.0
2.78x
30'923.0
6.64x
16'978.0
11.21x
30'923.00
27'956.00
37.92%
30.20%
12.83%
22.62%
19.36%
0.61%
76.2%
39.9%
35.4%
23.0%
2.60
2.41
9.85%
18.00%
5.22
11.94
LTM
12/yy
72'052.0
9.64x
29'890.0
5.95x
23'468.0
9.58x
12/yy
72'930.0
10.89x
29'120.0
5.82x
15'459.0
10.43x
FY+1
3.04
0.91
7'614.41
97.89
-10.71%
6.53%
0.915
44
4.273
9'421'840
10'647'497
11'226'720
FY+2
FQ+1
FQ+2
06/13 Y
06/14 Y
03/13 Q3 06/13 Q4
79'389.8
85'800.8
20'595.4
21'270.2
2.08x
1.68x
8.48x
8.00x
32'245.0
35'418.9
8'109.5
8'584.3
5.67x
5.16x
5.33x
5.29x
23'860.5
26'104.8
6'444.0
6'550.7
9.96x
9.00x
9.11x
9.16x
S&P Issuer Ratings
22.09.2008
AAA
STABLE
09.03.2011
NR
81.38
75.31
-1.86
0.49
18.0%
15.3%
0.61
8.73
70.16
30.66
82.47
13.98
Sales/Revenue/Turnover
14.00
80'000.0
12.00
70'000.0
60'000.0
10.00
50'000.0
8.00
40'000.0
6.00
30'000.0
4.00
20'000.0
2.00
10'000.0
0.00
03.07.2009
0.0
03.01.2010
03.07.2010
03.01.2011
03.07.2011
03.01.2012
03.07.2012
03.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Microsoft Corp
Holdings By:
All
Holder Name
BLACKROCK
GATES III WILLIAM HE
VANGUARD GROUP INC
BALLMER STEVEN ANTHO
CAPITAL GROUP COMPAN
STATE STREET
VANGUARD GROUP INC
INVESCO LTD
BANK OF NEW YORK MEL
FMR LLC
JP MORGAN
NORTHERN TRUST CORPO
WELLINGTON MANAGEMEN
MORGAN STANLEY
FRANKLIN RESOURCES
T ROWE PRICE ASSOCIA
DODGE & COX
NORGES BANK
PRIMECAP MANAGEMENT
BANK OF AMERICA CORP
Firm Name
BMO Capital Markets
Stifel
Cowen and Company
Longbow Research
JPMorgan
Sanford C. Bernstein & Co
Evercore Partners
Morgan Stanley
Raymond James
Nomura
Griffin Securities
Cross Research
MKM Partners
Jyske Bank
Pacific Crest Securities
Edward Jones
Daiwa Securities Co. Ltd.
Oppenheimer & Co
Janney Montgomery Scott LLC
Argus Research Corp
Hilliard Lyons
Independent Research GmbH
Deutsche Bank
Goldman Sachs
RBC Capital Markets
Credit Suisse
Jefferies
FBR Capital Markets
BGC Partners
S&P Capital IQ
Atlantic Equities LLP
Credit Agricole Securities (USA)
Barclays
Wells Fargo Securities, LLC
EVA Dimensions
Tigress Financial Partners
Hamburger Sparkasse
McAdams Wright Ragen Inc
Crowell, Weedon & Co
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
n/a
n/a
Multiple Portfolios
INVESCO LTD
BANK OF NEW YORK MEL
n/a
n/a
NORTHERN TRUST CORPO
WELLINGTON MANAGEMEN
n/a
n/a
T ROWE PRICE ASSOCIA
DODGE & COX
NORGES BANK
PRIMECAP MANAGEMENT
BANK OF AMERICA
Analyst
KARL KEIRSTEAD
BRAD REBACK
GREGG MOSKOWITZ
KEVIN M BUTTIGIEG
JOHN DIFUCCI
MARK L MOERDLER
STEWART KIRK MATERNE III
KEITH WEISS
MICHAEL TURITS
RICHARD G SHERLUND
JAY VLEESCHHOUWER
RICHARD T WILLIAMS
ISRAEL HERNANDEZ
ROBERT JAKOBSEN
BRENDAN BARNICLE
JOSH OLSON
KAZUYA NISHIMURA
SHAUL EYAL
YUN KIM
JOSEPH F BONNER
STEPHEN TURNER
MARKUS FRIEBEL
THOMAS ERNST JR
HEATHER BELLINI
MATTHEW HEDBERG
PHILIP WINSLOW
ROSS MACMILLAN
DAVID M HILAL
COLIN W GILLIS
ANGELO ZINO
CHRISTOPHER HICKEY
EDWARD MAGUIRE
RAIMO LENSCHOW
JASON MAYNARD
ANDREW S ZAMFOTIS
IVAN FEINSETH
MARCO GUENTHER
SID PARAKH
JAMES D RAGAN
Source
ULT-AGG
Form 4
13F
PROXY
ULT-AGG
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
Recommendation
market perform
buy
outperform
buy
neutral
outperform
equalweight
Equalwt/In-Line
outperform
buy
buy
buy
neutral
buy
sector perform
buy
outperform
outperform
neutral
hold
buy
hold
buy
neutral/neutral
sector perform
outperform
hold
market perform
buy
strong buy
overweight
buy
equalweight
market perform
buy
neutral
buy
buy
buy
Amt Held
445'443'578
421'411'775
343'251'826
333'252'990
331'613'585
326'288'139
215'734'462
149'430'083
134'373'549
120'328'290
113'075'761
105'829'897
102'690'425
84'045'210
75'890'832
73'457'901
68'095'523
66'902'672
63'588'305
62'016'508
% Out
5.32
5.03
4.1
3.98
3.96
3.9
2.58
1.78
1.6
1.44
1.35
1.26
1.23
1
0.91
0.88
0.81
0.8
0.76
0.74
Weighting
Change
3
5
5
5
3
5
3
3
5
5
5
5
3
5
3
5
5
5
3
3
5
3
5
3
3
5
3
3
5
5
5
5
3
3
5
3
5
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
Latest Chg
13'636'630
(7'000'000)
5'359'366
15'606'940
7'699'577
(12'969'628)
1'319'949
(44'811'714)
(109'672)
330'681
(36'166'932)
1'827'246
3'691'748
(5'832'161)
7'165'720
5'081'777
3'768'764
400'990
Target Price
30
36
#N/A N/A
33
30
37
30
#N/A N/A
34
32
38
37
27
32
#N/A N/A
#N/A N/A
31
36
28
#N/A N/A
35
31
31
30
33
38
31
30
31
35
35
36
29
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
36
36
File Dt
22.03.2013
06.02.2013
31.12.2012
14.09.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
28.02.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
12 month
9 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Inst Type
Investment Advisor
n/a
Investment Advisor
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Date
25.03.2013
25.03.2013
25.03.2013
22.03.2013
21.03.2013
19.03.2013
19.03.2013
18.03.2013
13.03.2013
13.03.2013
12.03.2013
12.03.2013
11.03.2013
07.03.2013
04.03.2013
01.03.2013
01.03.2013
20.02.2013
05.02.2013
29.01.2013
28.01.2013
28.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
24.01.2013
15.01.2013
03.12.2012
27.11.2012
23.07.2012
20.07.2012
26.03.2013
Price/Volume
35
30.0 M
30
25.0 M
25
20.0 M
20
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (25.03.2013)
52-Week Low (28.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
MDLZ UW EQUITY YTD Change
MDLZ UW EQUITY YTD % CHANGE
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
10.0 M
10
5.0 M
5
0
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
f-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
15.0 M
15
12/2012
12/yy
30.30
24.27
1'073'854.00
30.08
-0.68%
23.92%
93.11%
1'778.3
53'490.89
19'425.00
0.0
140.0
4'475.00
68'580.89
31.12.2009
31.12.2010
38'754.0
49'207.0
1.47x
1.65x
6'056.0
7'130.0
9.44x
11.42x
3'021.0
4'114.0
14.61x
15.60x
Profitability
LTM-4Q
31.12.2011
35'810.0
2.54x
4'978.0
18.30x
3'527.0
38.92x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
35'015.0
1.72x
5'028.0
12.00x
3'028.0
18.31x
5'028.00
3'683.00
10.52%
5.07%
3.58%
8.98%
7.71%
0.58%
37.3%
15.8%
13.1%
8.6%
1.05
0.71
25.74%
60.30%
7.81
6.56
LTM
12/yy
49'356.0
7.42x
7'451.0
12.23x
3'527.0
18.68x
12/yy
48'783.0
7.67x
7'727.0
7.81x
3'028.0
11.36x
FY+1
.0 M
m-13
3.32
1'772.66
13.70
18.10%
25
4.200
4'058'049
3'802'666
3'242'087
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
36'610.4
38'762.8
8'710.5
8'900.5
1.90x
1.76x
7.73x
7.46x
5'902.9
6'352.7
1'384.4
1'467.6
11.62x
10.79x
11.58x
11.30x
2'801.1
3'152.3
607.2
679.8
19.21x
17.07x
19.21x
18.55x
S&P Issuer Ratings
02.02.2010
BBB
STABLE
09.11.2007
A-2
4.00
2.72
1.93
2.51
60.3%
37.5%
0.58
4.10
46.85
55.81
64.13
50.93
Sales/Revenue/Turnover
14.00
60'000.0
12.00
50'000.0
10.00
40'000.0
8.00
30'000.0
6.00
20'000.0
4.00
10'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
STATE STREET
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
INVESCO LTD
BANK OF NEW YORK MEL
JP MORGAN
SOUTHEASTERN ASSET M
FMR LLC
MORGAN STANLEY
SCOUT CAPITAL MANAGE
JENNISON ASSOCIATES
NORTHERN TRUST CORPO
FRANKLIN RESOURCES
EAGLE CAPITAL MANAGE
MONTAG & CALDWELL IN
NORGES BANK
DIMENSIONAL FUND ADV
BERKSHIRE HATHAWAY I
Firm Name
Morgan Stanley
Credit Suisse
Canaccord Genuity Corp
EVA Dimensions
Sanford C. Bernstein & Co
Edward Jones
Stifel
BMO Capital Markets
RBC Capital Markets
Argus Research Corp
Jefferies
Davenport & Co
JPMorgan
Janney Montgomery Scott LLC
CL King & Associates
S&P Capital IQ
Deutsche Bank
Gabelli & Co
Barclays
Credit Agricole Securities (USA)
Goldman Sachs
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
INVESCO LTD
BANK OF NEW YORK MEL
n/a
SOUTHEASTERN ASSET M
n/a
n/a
SCOUT CAPITAL MANAGE
JENNISON ASSOCIATES
NORTHERN TRUST CORPO
n/a
EAGLE CAPITAL MANAGE
MONTAG & CALDWELL IN
NORGES BANK
DIMENSIONAL FUND ADV
n/a
Analyst
MATTHEW GRAINGER
ROBERT MOSKOW
ALICIA FORRY
AUSTIN BURKETT
ALEXIA HOWARD
BRIAN YARBROUGH
CHRISTOPHER R GROWE
KENNETH B ZASLOW
EDWARD AARON
JOHN D STASZAK
THILO WREDE
ANN H GURKIN
KENNETH GOLDMAN
JONATHAN P FEENEY
ERIC J LARSON
THOMAS GRAVES
ERIC R KATZMAN
SARAH DONNELLY
ANDREW LAZAR
DIANE GEISSLER
JASON ENGLISH
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
Recommendation
Overwt/In-Line
outperform
sell
underweight
outperform
buy
buy
market perform
outperform
hold
hold
buy
overweight
neutral
buy
buy
hold
buy
overweight
outperform
Buy/Neutral
Amt Held
102'147'087
86'284'212
76'313'212
58'752'824
47'872'555
38'345'305
36'661'818
36'424'967
34'530'900
34'145'937
30'059'495
27'575'000
26'271'862
23'690'658
19'018'669
17'280'074
16'605'595
14'385'236
14'141'353
12'840'450
% Out
5.74
4.85
4.29
3.3
2.69
2.16
2.06
2.05
1.94
1.92
1.69
1.55
1.48
1.33
1.07
0.97
0.93
0.81
0.8
0.72
Weighting
Change
5
5
1
1
5
5
5
3
5
3
3
5
5
3
5
5
3
5
5
5
5
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(2'129'392)
673'079
(32'266'184)
1'032'358
1'645'258
7'630'205
34'530'900
(4'781'275)
5'232'244
19'075'000
15'142'594
7'047'320
(3'638'274)
6'654'613
1'537'174
1'397'568
253'282
(17'623'900)
Target Price
32
31
26
#N/A N/A
33
#N/A N/A
31
29
31
#N/A N/A
29
32
32
26
31
31
26
#N/A N/A
31
30
32
File Dt
Inst Type
22.03.2013
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.01.2013
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
28.02.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Government
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
9 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Date
25.03.2013
25.03.2013
25.03.2013
23.03.2013
22.03.2013
21.03.2013
15.03.2013
13.03.2013
11.03.2013
07.03.2013
01.03.2013
27.02.2013
25.02.2013
21.02.2013
19.02.2013
15.02.2013
14.02.2013
14.02.2013
14.02.2013
13.02.2013
11.01.2013
26.03.2013
Monsanto Co
Monsanto Company provides agricultural products for farmers. The Company's
business segments are seeds and genomics. Monsanto produces a wide range of
seeds and develops biotechnology traits that assist farmers in controlling
insects and weeds as well as provides other seed companies with genetic material
and biotechnology traits for their seed brands.
Price/Volume
2.0 M
1.5 M
60
08/2012
11/yy
104.96
69.71
235'052.00
103.08
-1.79%
47.87%
84.23%
535.8
55'231.64
2'074.00
0.0
203.0
3'585.00
52'570.64
1.0 M
40
.5 M
20
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
2.5 M
100
80
Valuation Analysis
31.08.2008
11'365.0
5.53x
3'458.0
18.18x
2'024.0
31.30x
120
31.08.2009
31.08.2010
11'724.0
10'483.0
3.89x
2.78x
4'175.0
2'529.0
10.92x
11.51x
2'109.0
1'096.0
19.02x
21.94x
Profitability
LTM-4Q
31.08.2011
11'822.0
3.08x
3'116.0
11.69x
1'607.0
23.29x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.08.2012
13'504.0
3.35x
3'760.0
12.03x
2'045.0
23.54x
3'760.00
3'138.00
23.24%
22.13%
10.51%
19.38%
17.56%
0.65%
52.2%
28.7%
24.3%
15.1%
2.29
1.30
10.26%
17.53%
6.74
1.99
LTM
11/yy
12'425.0
12.28x
3'290.0
11.62x
1'724.0
23.24x
11/yy
14'016.0
12.36x
4'021.0
11.53x
2'258.0
21.45x
FY+1
1.53
1.07
534.04
4.53
30.76%
9.33%
1.069
25
4.160
502'695
579'705
625'250
FY+2
FQ+1
FQ+2
08/13 Y
08/14 Y
02/13 Q2 05/13 Q3
14'937.9
15'913.1
5'258.0
4'481.9
3.53x
3.25x
10.07x
11.81x
4'322.9
4'779.9
2'189.0
1'531.6
12.15x
10.99x
12.14x
11.48x
2'482.6
2'800.4
1'396.7
943.7
22.59x
19.92x
22.97x
21.61x
S&P Issuer Ratings
21.10.2008
A+
STABLE
24.10.2007
A-1
17.74
14.69
-0.71
0.52
17.5%
14.7%
0.65
3.27
54.33
184.02
39.15
163.69
Sales/Revenue/Turnover
70.00
16'000.0
60.00
14'000.0
12'000.0
50.00
10'000.0
40.00
8'000.0
30.00
6'000.0
20.00
4'000.0
10.00
2'000.0
0.00
04.09.2009
0.0
04.03.2010
04.09.2010
04.03.2011
04.09.2011
04.03.2012
04.09.2012
04.03.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Monsanto Co
Holdings By:
All
Holder Name
FMR LLC
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
PRIMECAP MANAGEMENT
JENNISON ASSOCIATES
CAPITAL GROUP COMPAN
DAVIS SELECTED ADVIS
WINSLOW CAPITAL MANA
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
MACKAY SHIELDS LLC
AMERICAN CENTURY COM
WADDELL & REED FINAN
TIAA CREF INVESTMENT
MARSICO CAPITAL MANA
T ROWE PRICE ASSOCIA
MANNING & NAPIER ADV
INSTITUTIONAL CAPITA
Firm Name
BGC Partners
Wells Fargo Securities, LLC
Monness, Crespi, Hardt & Co
Susquehanna Financial Group
Topeka Capital Markets Inc
Morgan Stanley
Piper Jaffray
Edward Jones
Atlantic Equities LLP
Argus Research Corp
Canaccord Genuity Corp
Miller Tabak + Co., LLC
Credit Suisse
EVA Dimensions
Deutsche Bank
JPMorgan
Jefferies
Macquarie
Gabelli & Co
Goldman Sachs
Credit Agricole Securities (USA)
Gilford Securities
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
PRIMECAP MANAGEMENT
JENNISON ASSOCIATES
n/a
DAVIS SELECTED ADVIS
WINSLOW CAPITAL MANA
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
Multiple Portfolios
AMERICAN CENTURY COM
WADDELL & REED FINAN
TIAA-CREF INVESTMENT
MARSICO CAPITAL MANA
T ROWE PRICE ASSOCIA
MANNING & NAPIER ADV
INSTITUTIONAL CAPITA
Analyst
MARK R GULLEY
FRANK J MITSCH
CHRIS L SHAW
DONALD D CARSON
CHRISTOPHER KAPSCH
VINCENT ANDREWS
MICHAEL E COX
MATT ARNOLD
COLIN ISAAC
WILLIAM V SELESKY
KEITH CARPENTER
TIM TIBERIO
CHRISTOPHER PARKINSON
CRAIG STERLING
DAVID I BEGLEITER
JEFFREY J ZEKAUSKAS
LAURENCE ALEXANDER
COOLEY MAY
AMON R WILKES
ROBERT KOORT
MARK W CONNELLY
PAUL C CHRISTOPHERSON
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
MF-AGG
13F
13F
13F
13F
13F
13F
13F
Recommendation
buy
outperform
buy
Positive
buy
Overwt/Attractive
overweight
hold
underweight
buy
buy
hold
outperform
hold
buy
overweight
hold
neutral
buy
buy/attractive
buy
sell
Amt Held
31'314'481
29'344'786
27'822'639
22'867'664
18'930'875
12'288'129
12'118'689
11'460'854
10'487'622
10'195'716
8'313'331
8'084'556
7'584'273
7'259'015
6'986'164
6'400'826
6'395'945
6'296'093
6'036'725
5'513'304
% Out
5.84
5.48
5.19
4.27
3.53
2.29
2.26
2.14
1.96
1.9
1.55
1.51
1.42
1.35
1.3
1.19
1.19
1.18
1.13
1.03
Weighting
Change
5
5
5
4
5
5
5
3
1
5
5
3
5
3
5
5
3
3
5
5
5
1
M
M
M
M
M
M
M
M
D
M
M
M
N
M
M
M
M
M
M
M
M
M
Latest Chg
7'247'094
603'421
564'762
(48'800)
292'881
(470'591)
(1'116'066)
(146'214)
540'705
54'258
(466'373)
119'354
(40'414)
551'005
(828'232)
(755'882)
(772'767)
(648'871)
Target Price
120
#N/A N/A
110
125
114
115
130
#N/A N/A
90
114
113
102
120
#N/A N/A
112
105
110
105
#N/A N/A
116
120
67
File Dt
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
9 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
21.03.2013
20.03.2013
18.03.2013
12.03.2013
07.03.2013
06.03.2013
01.03.2013
18.02.2013
13.02.2013
31.01.2013
24.01.2013
16.01.2013
15.01.2013
09.01.2013
09.01.2013
09.01.2013
09.01.2013
09.01.2013
08.01.2013
08.01.2013
26.04.2012
26.03.2013
Morgan Stanley
Morgan Stanley, a bank holding company, provides diversified financial services
on a worldwide basis. The Company operates a global securities business which
serves individual and institutional investors and investment banking clients.
Morgan Stanley also operates a global asset management business.
Price/Volume
30
16.0 M
14.0 M
25
12.0 M
20
12/2012
12/yy
24.47
12.26
923'538.00
22.14
-9.52%
80.59%
79.52%
1'961.3
43'422.24
450'846.00
1'508.0
7'628.0
46'904.00
456'500.24
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
8.0 M
6.0 M
10
4.0 M
5
2.0 M
0
m-12
31.12.2009
31.12.2010
30'139.0
37'801.0
16.65x
13.22x
8'912.0
14'064.0
56.30x
35.53x
1'346.0
4'703.0
11.04x
13.40x
Profitability
LTM-4Q
31.12.2011
39'138.0
10.82x
14'405.0
29.41x
4'110.0
-
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
32'036.0
14.07x
8'020.0
56.21x
68.0
12.10x
8'020.00
1.97%
1.61%
0.00%
-0.20%
0.12%
0.04%
25.6%
0.2%
57.73%
743.96%
-
j-12
j-12
LTM
12/yy
39'171.0
48.27x
13'233.0
0.00x
4'110.0
0.00x
a-12
12/yy
32'333.0
56.29x
8'293.0
54.36x
(19.0)
11.45x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
0.90
1.68
1'394.07
17.24
5.81%
16.04%
1.675
34
3.647
3'546'742
3'357'020
3'730'248
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
32'227.1
34'215.5
8'546.3
8'105.2
4'198.2
5'022.6
1'175.1
1'033.5
10.59x
8.66x
10.50x
9.93x
S&P Issuer Ratings
29.11.2011
ANEG
29.11.2011
A-2
48.71
54.36
744.0%
86.6%
0.04
5.21
-
Sales/Revenue/Turnover
9.00
90'000.0
8.00
80'000.0
7.00
70'000.0
6.00
60'000.0
5.00
50'000.0
4.00
40'000.0
3.00
30'000.0
2.00
20'000.0
1.00
10'000.0
0.00
01.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
10.0 M
15
Valuation Analysis
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Morgan Stanley
Holdings By:
All
Holder Name
MITSUBISHI UFJ FINAN
STATE STREET
CHINA INVESTMENT COR
BLACKROCK
VANGUARD GROUP INC
FRANKLIN RESOURCES
FMR LLC
JENNISON ASSOCIATES
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
EAGLE CAPITAL MANAGE
JP MORGAN
T ROWE PRICE ASSOCIA
INVESCO LTD
UBS
NORTHERN TRUST CORPO
CITADEL ADVISORS LLC
TIAA CREF INVESTMENT
BANK OF NEW YORK MEL
SCHRODER INVESTMENT
Firm Name
Sanford C. Bernstein & Co
Mediobanca SpA
Rafferty Capital Markets
JMP Securities
Buckingham Research Group
ISI Group
Edward Jones
Susquehanna Financial Group
Wells Fargo Securities, LLC
Portales Partners
Drexel Hamilton LLC
Goldman Sachs
JPMorgan
FBR Capital Markets
RBC Capital Markets
S&P Capital IQ
HSBC
Atlantic Equities LLP
Credit Agricole Securities (USA)
EVA Dimensions
Daiwa Securities Co. Ltd.
SunTrust Robinson Humphrey
Argus Research Corp
Oppenheimer & Co
Sandler O'Neill & Partners, LP
Evercore Partners
Nomura
Barclays
Credit Suisse
Meredith Whitney Advisory Group
Deutsche Bank
Portfolio Name
n/a
n/a
n/a
n/a
VANGUARD GROUP INC
n/a
n/a
JENNISON ASSOCIATES
Multiple Portfolios
n/a
EAGLE CAPITAL MANAGE
n/a
T ROWE PRICE ASSOCIA
INVESCO LTD
n/a
NORTHERN TRUST CORPO
CITADEL ADVISORS LLC
TIAA-CREF INVESTMENT
BANK OF NEW YORK MEL
SCHRODER INVESTMENT
Analyst
CHARLES BRADLEY HINTZ
CHRISTOPHER J WHEELER
RICHARD X BOVE SR
DAVID M TRONE
JAMES F MITCHELL
Ed Najarian
SHANNON L STEMM
DOUGLAS C SIPKIN
MATTHEW H BURNELL
CHARLES W PEABODY
DAVID B HILDER
RICHARD N RAMSDEN
KIAN ABOUHOSSEIN
STEVE STELMACH
FIONA SWAFFIELD
KENNETH M LEON
ROBERT MURPHY
RICHARD STAITE
MICHAEL L MAYO
AUSTIN BURKETT
KAZUKI WATANABE
ERIC WASSERSTROM
DAVID RITTER
CHRISTOPHER M KOTOWSKI
JEFFERY HARTE
CHRISTOPHER J ALLEN
GLENN P SCHORR
ROGER A FREEMAN
HOWARD H CHEN
MEREDITH A WHITNEY
MATTHEW D O'CONNOR
Source
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
MF-AGG
ULT-AGG
13F
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
Recommendation
outperform
underperform
buy
market perform
buy
neutral
buy
neutral
market perform
underperform
buy
neutral/attractive
overweight
outperform
sector perform
buy
neutral
underweight
buy
sell
outperform
neutral
buy
outperform
buy
overweight
neutral
equalweight
outperform
hold
hold
Amt Held
435'785'918
178'965'043
125'114'454
68'775'805
60'979'134
55'959'687
50'958'532
43'865'735
39'067'346
31'000'858
27'830'619
27'395'915
26'694'590
25'510'305
19'935'213
18'647'018
15'043'837
14'662'576
14'171'644
11'465'598
% Out
22.22
9.13
6.38
3.51
3.11
2.85
2.6
2.24
1.99
1.58
1.42
1.4
1.36
1.3
1.02
0.95
0.77
0.75
0.72
0.58
Weighting
Change
5
1
5
3
5
3
5
3
3
1
5
3
5
5
3
5
3
1
5
1
5
3
5
5
5
5
3
3
5
3
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
U
M
M
M
M
M
M
M
M
M
Latest Chg
724'314
(649'846)
2'256'405
1'674'063
4'509'118
15'731'120
(42)
8'634'125
12'565'730
(8'716'903)
7'544'877
2'361'087
535'562
7'146'861
877'566
(128'977)
6'258'601
Target Price
24
20
30
#N/A N/A
28
24
#N/A N/A
24
#N/A N/A
#N/A N/A
27
24
25
27
23
27
25
22
30
#N/A N/A
26
26
26
27
26
28
24
25
23
#N/A N/A
20
File Dt
Inst Type
31.12.2012
Holding Company
25.03.2013
Investment Advisor
31.12.2012
Government
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.01.2013
Unclassified
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
9 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
18 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Date
26.03.2013
25.03.2013
25.03.2013
22.03.2013
21.03.2013
21.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
13.03.2013
11.03.2013
08.03.2013
05.03.2013
28.02.2013
26.02.2013
14.02.2013
14.02.2013
12.02.2013
08.02.2013
06.02.2013
28.01.2013
23.01.2013
22.01.2013
22.01.2013
22.01.2013
22.01.2013
18.01.2013
18.10.2012
06.08.2012
26.03.2013
Price/Volume
90
2.5 M
80
2.0 M
70
60
1.5 M
50
40
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (18.09.2012)
52-Week Low (26.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 14.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
NOV UN EQUITY YTD Change
NOV UN EQUITY YTD % CHANGE
12/2012
12/yy
89.25
59.07
480'577.00
70.26
-21.28%
18.94%
31.28%
426.6
29'975.71
3'149.00
0.0
117.0
3'319.00
29'922.71
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
20
.5 M
10
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
1.0 M
30
31.12.2009
31.12.2010
12'712.0
12'156.0
1.32x
2.14x
2'952.0
2'954.0
5.70x
8.80x
1'469.0
1'667.0
11.33x
16.56x
Profitability
LTM-4Q
31.12.2011
14'658.0
1.77x
3'492.0
7.42x
1'994.0
14.25x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
20'041.0
1.45x
4'185.0
6.96x
2'491.0
11.57x
4'185.00
3'557.00
17.75%
17.49%
8.74%
13.16%
12.06%
0.70%
26.6%
20.9%
17.7%
12.4%
2.78
1.35
10.00%
15.56%
5.27
2.50
LTM
12/yy
14'658.0
7.23x
3'492.0
7.42x
1'994.0
14.28x
12/yy
20'041.0
6.06x
4'185.0
6.96x
2'491.0
11.58x
FY+1
0.70
1.52
425.66
4.86
-11.64%
2.99%
1.519
35
4.571
776'172
805'815
852'492
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
22'731.4
24'347.1
5'386.5
5'575.7
1.28x
1.10x
5.74x
5.39x
4'520.3
5'049.5
1'047.7
1'102.1
6.63x
5.93x
6.63x
6.44x
2'533.8
2'915.4
585.4
615.7
11.77x
10.26x
11.82x
11.33x
S&P Issuer Ratings
25.04.2012
A
STABLE
85.41
73.51
-0.04
0.75
15.6%
13.4%
0.70
7.44
69.50
146.27
22.38
193.26
Sales/Revenue/Turnover
90.00
25'000.0
80.00
20'000.0
70.00
60.00
15'000.0
50.00
40.00
10'000.0
30.00
5'000.0
20.00
10.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
FMR LLC
VANGUARD GROUP INC
SANDS CAPITAL MANAGE
OPPENHEIMERFUNDS INC
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
SUN LIFE FINANCIAL I
JP MORGAN
WADDELL & REED FINAN
AMERIPRISE FINANCIAL
BERKSHIRE HATHAWAY I
CLEARBRIDGE INVESTME
HARRIS ASSOCIATES LP
ALLIANCE BERNSTEIN
MARSICO CAPITAL MANA
WELLINGTON MANAGEMEN
JANUS CAPITAL MANAGE
Firm Name
Capital One Southcoast, Inc.
Guggenheim Securities LLC
Howard Weil Inc
Raymond James
Edward Jones
Sanford C. Bernstein & Co
ISI Group
Wells Fargo Securities, LLC
Iberia Capital Partners LLC
Jefferies
Fearnley Fonds
Societe Generale
William Blair & Co
Macquarie
Susquehanna Financial Group
RBC Capital Markets
Global Hunter Securities
Cowen Securities LLC
HSBC
Argus Research Corp
EVA Dimensions
Morgan Stanley
Goldman Sachs
Credit Suisse
JPMorgan
Credit Agricole Securities (USA)
RS Platou Markets
Sterne, Agee & Leach
BMO Capital Markets
Johnson Rice & Co
S&P Capital IQ
Barclays
Tudor Pickering & Co
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
SANDS CAPITAL MANAGE
OPPENHEIMER FUNDS IN
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
n/a
WADDELL & REED FINAN
AMERIPRISE FINANCIAL
n/a
CLEARBRIDGE INVESTME
HARRIS ASSOC LP
n/a
MARSICO CAPITAL MANA
WELLINGTON MANAGEMEN
n/a
Analyst
JOSEPH D GIBNEY
DARREN GACICIA
WILLIAM SANCHEZ
J MARSHALL ADKINS
BRIAN YOUNGBERG
SCOTT GRUBER
JUDSON E BAILEY
THOMAS PATRICK CURRAN
TREY STOLZ
BRAD HANDLER
TRULS OLSEN
EDWARD C MUZTAFAGO
BRANDON DOBELL
NIGEL BROWNE
CHARLES P MINERVINO
KURT HALLEAD
BRIAN UHLMER
JAMES D CRANDELL
DAVID PHILLIPS
PHILIP H WEISS
CRAIG STERLING
OLE SLORER
WAQAR SYED
JAMES WICKLUND
J DAVID ANDERSON
DAVID S HAVENS
GORAN ANDREASSEN
STEPHEN D GENGARO
ALAN D LAWS
DAVID C SMITH
STEWART GLICKMAN
JAMES C WEST
JEFF TILLERY
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
13F
ULT-AGG
Recommendation
add
buy
sector perform
outperform
buy
market perform
buy
outperform
outperform
buy
accumulate
buy
outperform
outperform
Positive
sector perform
buy
buy
overweight
buy
overweight
Equalwt/Attractive
buy/attractive
neutral
overweight
outperform
buy
buy
outperform
equalweight
strong buy
overweight
buy
Amt Held
30'642'899
19'278'074
18'481'808
18'049'001
12'297'094
9'422'878
8'339'871
8'217'551
7'646'149
7'372'691
6'812'695
5'457'809
5'444'048
5'294'800
5'260'359
5'205'684
5'199'627
5'020'360
4'932'898
4'611'502
% Out
7.18
4.52
4.33
4.23
2.88
2.21
1.95
1.93
1.79
1.73
1.6
1.28
1.28
1.24
1.23
1.22
1.22
1.18
1.16
1.08
Weighting
Change
4
5
3
5
5
3
5
5
5
5
4
5
5
5
4
3
5
5
5
5
5
3
5
3
5
5
5
5
5
3
5
5
5
M
U
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
138'815
562'564
(5'431'601)
335'621
1'475'345
(143'556)
284'855
1'343'146
880'753
(646'995)
(1'845'531)
1'108'000
(55'991)
527'011
(603'509)
(1'307'778)
(1'209'184)
1'102'310
Target Price
89
83
85
90
#N/A N/A
80
80
#N/A N/A
93
86
81
82
#N/A N/A
84
83
80
80
95
97
85
#N/A N/A
80
90
74
89
80
87
86
90
#N/A N/A
95
93
#N/A N/A
File Dt
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
9 month
Not Provided
6 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
26.03.2013
25.03.2013
25.03.2013
22.03.2013
21.03.2013
21.03.2013
19.03.2013
19.03.2013
18.03.2013
18.03.2013
13.03.2013
11.03.2013
27.02.2013
26.02.2013
21.02.2013
20.02.2013
11.02.2013
08.02.2013
07.02.2013
07.02.2013
04.02.2013
04.02.2013
04.02.2013
04.02.2013
04.02.2013
04.02.2013
03.02.2013
01.02.2013
01.02.2013
01.02.2013
01.02.2013
12.09.2012
26.03.2013
News Corp
News Corporation is a diversified global media company. The Company's
operations include the production and distribution of motion pictures and
television programming. The Company provides television, direct satellite, and
cable broadcasting and the publication of newspapers, magazines, books and
promotional inserts.
Price/Volume
06/2012
12/yy
30.76
18.32
830'503.00
30.25
-1.66%
65.12%
95.74%
1'526.7
70'530.86
15'455.00
1'142.0
9'626.00
80'683.86
16.0 M
14.0 M
12.0 M
20
10.0 M
15
8.0 M
6.0 M
10
4.0 M
2.0 M
0
m-12
30.06.2009
30.06.2010
30'423.0
32'778.0
1.06x
1.12x
4'472.0
5'228.0
7.23x
7.02x
(3'378.0)
2'539.0
11.11x
10.31x
Profitability
LTM-4Q
30.06.2011
33'405.0
1.50x
6'133.0
8.17x
2'739.0
14.16x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
30.06.2012
33'706.0
1.78x
6'646.0
9.04x
1'179.0
15.81x
6'646.00
5'379.00
15.96%
6.56%
6.52%
14.38%
11.39%
0.56%
19.7%
15.9%
3.5%
2.02
1.69
27.28%
62.61%
4.61
-
j-12
j-12
LTM
12/yy
34'152.0
5.75x
6'648.0
7.73x
3'117.0
13.52x
a-12
12/yy
34'333.0
7.24x
6'754.0
10.53x
3'998.0
16.25x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
0.56
1.11
1'525.49
34.92
50.77%
18.77%
1.112
27
4.667
3'341'785
3'602'944
3'879'994
FY+2
FQ+1
FQ+2
06/13 Y
06/14 Y
03/13 Q3 06/13 Q4
35'612.9
38'023.8
8'988.8
9'132.4
2.21x
2.05x
8.89x
8.72x
7'270.1
8'098.6
1'687.7
1'896.9
11.11x
9.97x
10.50x
10.15x
3'915.2
4'371.9
826.3
1'030.1
18.03x
15.31x
17.14x
16.13x
S&P Issuer Ratings
30.11.2012
BBB+
STABLE
6.18
5.30
1.28
2.44
62.6%
37.4%
0.56
5.82
79.48
-
Sales/Revenue/Turnover
20.00
40'000.0
18.00
35'000.0
16.00
30'000.0
14.00
25'000.0
12.00
10.00
20'000.0
8.00
15'000.0
6.00
10'000.0
4.00
5'000.0
2.00
0.00
03.07.2009
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
18.0 M
30
25
Valuation Analysis
30.06.2008
32'996.0
1.49x
6'668.0
7.36x
5'387.0
12.23x
35
0.0
03.01.2010
03.07.2010
03.01.2011
03.07.2011
03.01.2012
03.07.2012
03.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
News Corp
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
YACKTMAN ASSET MANAG
STATE STREET
DODGE & COX
VANGUARD GROUP INC
JANUS CAPITAL MANAGE
CHILDRENS INV FUND M
VIKING GLOBAL INVEST
FMR LLC
BANK OF NEW YORK MEL
ETON PARK CAPITAL MA
HIGHFIELDS CAPITAL M
NORTHERN TRUST CORPO
EAGLE CAPITAL MANAGE
NORGES BANK
INVESCO LTD
EGERTON CAPITAL LIMI
LONE PINE CAPITAL LL
Firm Name
Nomura
Lazard Capital Markets
Sanford C. Bernstein & Co
Needham & Co
Morgan Stanley
Wells Fargo Securities, LLC
Barclays
Susquehanna Financial Group
Credit Suisse
Wedbush
Macquarie
Davenport & Co
Wunderlich Securities
S&P Capital IQ
Telsey Advisory Group
RBC Capital Markets
Argus Research Corp
EVA Dimensions
Gabelli & Co
Evercore Partners
Cowen and Company
Atlantic Equities LLP
Deutsche Bank
Goldman Sachs
BTIG LLC
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
YACKTMAN ASSET MANAG
n/a
DODGE & COX
Multiple Portfolios
n/a
CHILDRENS INVESTMENT
VIKING GLOBAL INVEST
n/a
BANK OF NEW YORK MEL
ETON PARK CAPITAL MA
HIGHFIELDS CAPITAL M
NORTHERN TRUST CORPO
EAGLE CAPITAL MANAGE
NORGES BANK
INVESCO LTD
EGERTON CAPITAL LIMI
LONE PINE CAPITAL LL
Analyst
MICHAEL NATHANSON
BARTON CROCKETT
TODD JUENGER
LAURA A MARTIN
BENJAMIN SWINBURNE
MARCI RYVICKER
ANTHONY J DICLEMENTE
VASILY KARASYOV
MICHAEL SENNO
JAMES G DIX
TIMOTHY W NOLLEN
MICHAEL C MORRIS
MATTHEW HARRIGAN
TUNA AMOBI
JAISON BLAIR
DAVID BANK
JOSEPH F BONNER
CRAIG STERLING
BRETT HARRISS
ALAN GOULD
DOUGLAS CREUTZ
HAMILTON FABER
DOUGLAS D MITCHELSON
DREW BORST
RICHARD GREENFIELD
Source
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
Recommendation
buy
buy
outperform
buy
Overwt/Attractive
outperform
overweight
Positive
neutral
outperform
outperform
buy
buy
buy
no rating system
outperform
hold
hold
buy
overweight
outperform
overweight
buy
not rated
buy
Amt Held
106'117'879
85'939'439
81'642'663
80'106'935
78'435'123
73'990'044
53'397'946
50'745'635
34'348'479
34'295'229
31'740'887
29'665'850
28'100'000
27'945'300
24'797'737
22'180'447
19'150'391
17'590'189
17'571'378
16'929'453
% Out
6.95
5.63
5.35
5.25
5.14
4.85
3.5
3.32
2.25
2.25
2.08
1.94
1.84
1.83
1.62
1.45
1.25
1.15
1.15
1.11
Weighting
Change
5
5
5
5
5
5
5
4
3
5
5
5
5
5
#N/A N/A
5
3
3
5
5
5
5
5
#N/A N/A
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
M
M
M
Latest Chg
566'560
531'944
(49'269'500)
(449'404)
4'135'463
(9'828'325)
1'242'647
(12'657'102)
3'537'977
1'713'651
25'400
9'100'000
(3'592'000)
(375'426)
1'184'087
(668)
(3'322'085)
2'373'660
2'887'188
Target Price
31
35
36
34
32
#N/A N/A
33
34
28
26
33
34
36
31
34
32
#N/A N/A
#N/A N/A
#N/A N/A
30
#N/A N/A
33
32
#N/A N/A
30
File Dt
22.03.2013
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
12 month
18 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Hedge Fund Manager
Hedge Fund Manager
Investment Advisor
Investment Advisor
Hedge Fund Manager
Hedge Fund Manager
Investment Advisor
Investment Advisor
Government
Investment Advisor
Hedge Fund Manager
Hedge Fund Manager
Date
25.03.2013
24.03.2013
22.03.2013
15.03.2013
08.03.2013
08.03.2013
08.03.2013
07.03.2013
06.03.2013
06.03.2013
06.03.2013
06.03.2013
06.03.2013
06.03.2013
06.03.2013
05.03.2013
20.02.2013
11.02.2013
08.02.2013
07.02.2013
07.02.2013
07.02.2013
28.01.2013
28.06.2012
27.06.2012
26.03.2013
NIKE Inc
NIKE, Inc. designs, develops, and markets athletic footwear, apparel,
equipment, and accessory products for men, women, and children. The Company
sells its products worldwide to retail stores, through its own stores,
subsidiaries, and distributors.
Price/Volume
70
8.0 M
60
7.0 M
6.0 M
50
5.0 M
40
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (22.03.2013)
52-Week Low (29.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 26.12.2012
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
NKE UN EQUITY YTD Change
NKE UN EQUITY YTD % CHANGE
05/2012
02/yy
60.23
42.55
506'467.00
59.49
-1.23%
39.81%
96.21%
721.3
53'616.64
385.00
0.0
0.0
3'757.00
49'895.64
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
3.0 M
20
2.0 M
10
1.0 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
4.0 M
30
31.05.2009
31.05.2010
19'176.1
19'014.0
1.31x
1.60x
2'789.8
2'797.7
8.98x
10.87x
1'486.7
1'906.7
14.93x
18.75x
Profitability
LTM-4Q
31.05.2011
20'862.0
1.71x
3'150.0
11.32x
2'133.0
19.24x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.05.2012
24'128.0
1.91x
3'413.0
13.53x
2'223.0
22.68x
3'413.00
3'040.00
12.60%
12.36%
15.56%
22.70%
1.66%
43.4%
13.6%
12.3%
9.2%
2.98
1.82
2.49%
3.71%
7.75
4.29
LTM
02/yy
23'239.0
6.91x
3'414.0
13.65x
2'268.0
22.39x
02/yy
25'281.0
6.84x
2'537.0
0.00x
2'366.0
21.44x
FY+1
1.31
0.96
713.02
6.32
11.28%
15.74%
0.957
26
3.923
1'688'082
1'057'165
1'045'584
FY+2
FQ+1
FQ+2
05/13 Y
05/14 Y
05/13 Q4 08/13 Q1
25'346.9
27'465.1
6'656.4
6'981.1
1.95x
1.79x
7.47x
7.15x
3'682.8
4'140.6
994.0
1'051.6
13.52x
12.03x
12.47x
12.21x
2'423.3
2'715.2
674.4
704.1
22.27x
19.50x
20.05x
19.53x
S&P Issuer Ratings
10.06.2005
A+
STABLE
05.11.1992
A-1
106.66
88.00
-0.94
0.10
3.7%
3.6%
1.66
11.32
47.12
85.05
32.36
90.80
Sales/Revenue/Turnover
35.00
30'000.0
30.00
25'000.0
25.00
20'000.0
20.00
15'000.0
15.00
10'000.0
10.00
5'000.0
5.00
0.00
05.06.2009
0.0
05.12.2009
05.06.2010
05.12.2010
05.06.2011
05.12.2011
05.06.2012
05.12.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
NIKE Inc
Holdings By:
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
FMR LLC
STATE STREET
VANGUARD GROUP INC
BANK OF NEW YORK MEL
JENNISON ASSOCIATES
JANUS CAPITAL MANAGE
SANDS CAPITAL MANAGE
NORTHERN TRUST CORPO
GOLDMAN SACHS GROUP
LANSDOWNE PARTNERS L
T ROWE PRICE ASSOCIA
UBS
FRANKLIN RESOURCES
MARSICO CAPITAL MANA
SUN LIFE FINANCIAL I
HARBOR CAPITAL ADVIS
MACQUARIE GROUP
Firm Name
Argus Research Corp
Hilliard Lyons
ISI Group
Susquehanna Financial Group
EVA Dimensions
Morgan Stanley
Credit Suisse
D.A. Davidson & Co
Edward Jones
Janney Montgomery Scott LLC
Robert W. Baird & Co
Wedbush
Stifel
Buckingham Research Group
Sterne, Agee & Leach
Canaccord Genuity Corp
Cowen and Company
S&P Capital IQ
Telsey Advisory Group
JPMorgan
Barclays
McAdams Wright Ragen Inc
Daiwa Securities Co. Ltd.
HSBC
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
JENNISON ASSOCIATES
n/a
SANDS CAPITAL MANAGE
NORTHERN TRUST CORPO
GOLDMAN SACHS GROUP
LANSDOWNE PARTNERS L
T ROWE PRICE ASSOCIA
n/a
n/a
MARSICO CAPITAL MANA
n/a
Multiple Portfolios
n/a
Analyst
JOHN D STASZAK
JEFFREY S THOMISON
OMAR SAAD
CHRISTOPHER SVEZIA
CRAIG STERLING
KIMBERLY GREENBERGER
CHRISTIAN BUSS
ANDREW BURNS
BRIAN YARBROUGH
ERIC B TRACY
MITCHEL J KUMMETZ
CORINNA FREEDMAN
JIM DUFFY
JOHN M ZOLIDIS
SAM POSER
CAMILO R LYON
FAYE LANDES
JASON ASAEDA
KELLY CHEN
MATTHEW BOSS
ROBERT S DRBUL
SARA E HASAN
TORU SUGIURA
ERWAN RAMBOURG
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
Recommendation
hold
neutral
strong buy
neutral
overweight
Equalwt/In-Line
neutral
neutral
hold
neutral
neutral
neutral
buy
buy
neutral
hold
outperform
hold
no rating system
overweight
overweight
hold
buy
overweight
Amt Held
49'105'895
38'396'884
37'457'506
32'793'819
28'094'083
25'617'268
22'319'463
19'916'592
16'151'936
14'774'160
12'753'217
12'742'453
12'735'980
12'696'770
10'770'553
9'274'169
9'150'278
8'866'624
6'909'806
6'619'052
% Out
6.81
5.32
5.19
4.55
3.89
3.55
3.09
2.76
2.24
2.05
1.77
1.77
1.77
1.76
1.49
1.29
1.27
1.23
0.96
0.92
Weighting
Change
3
3
5
3
5
3
3
3
3
3
3
3
5
5
3
3
5
3
#N/A N/A
5
5
3
5
5
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
U
Latest Chg
685'329
525'668
2'357'201
865'553
114'435
(546'826)
(2'871'546)
505'172
(116'965)
1'420'259
1'748'266
(2'687'748)
(1'149'585)
164'253
(2'137'660)
550'418
(10'556)
(705'708)
Target Price
#N/A N/A
#N/A N/A
70
53
#N/A N/A
#N/A N/A
60
60
#N/A N/A
57
60
56
63
64
63
57
#N/A N/A
61
63
64
65
#N/A N/A
61
56
File Dt
Inst Type
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.01.2013
Unclassified
28.02.2013
Investment Advisor
31.12.2012
Investment Advisor
31.01.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
18 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
9 month
Not Provided
Not Provided
Not Provided
Not Provided
Date
26.03.2013
25.03.2013
25.03.2013
25.03.2013
23.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
22.03.2013
21.03.2013
21.03.2013
26.12.2012
24.12.2012
28.11.2012
26.03.2013
Price/Volume
80
2.0 M
50
12/2012
12/yy
76.25
56.05
169'271.00
74.92
-1.74%
33.67%
90.74%
314.5
23'561.77
8'682.00
0.0
0.0
668.00
31'575.77
1.5 M
30
1.0 M
20
.5 M
10
0
m-12
31.12.2009
31.12.2010
7'969.0
9'516.0
3.19x
2.98x
2'807.0
3'502.0
9.05x
8.10x
1'034.0
1'496.0
18.99x
16.07x
Profitability
LTM-4Q
31.12.2011
11'172.0
2.80x
4'082.0
7.67x
1'916.0
13.85x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
11'040.0
2.49x
4'046.0
6.78x
1'749.0
11.52x
4'046.00
3'124.00
28.30%
24.98%
5.94%
17.75%
11.49%
0.38%
36.6%
28.3%
15.8%
1.08
0.85
28.61%
88.95%
10.36
-
m-12
j-12
j-12
LTM
12/yy
11'172.0
10.83x
4'082.0
7.67x
1'916.0
13.15x
a-12
12/yy
11'040.0
10.37x
4'046.0
6.78x
1'749.0
11.52x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
2.59
1.14
313.39
6.18
16.56%
22.03%
1.141
31
3.935
544'962
602'999
622'068
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
11'304.1
12'016.7
2'752.3
2'862.7
2.82x
2.66x
11.51x
11.06x
4'118.6
4'504.1
917.9
1'091.2
7.67x
7.02x
7.68x
7.50x
1'732.6
1'942.0
364.2
474.6
13.56x
11.85x
13.55x
13.10x
S&P Issuer Ratings
18.07.2005
BBB+
STABLE
06.05.1997
A-2
7.86
3.50
1.98
2.15
89.0%
47.1%
0.38
0.44
35.32
-
Sales/Revenue/Turnover
12.00
12'000.0
10.00
10'000.0
8.00
8'000.0
6.00
6'000.0
4.00
4'000.0
2.00
2'000.0
0.00
01.01.2010
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
2.5 M
60
40
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (20.03.2013)
52-Week Low (16.11.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 01.03.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
NSC UN EQUITY YTD Change
NSC UN EQUITY YTD % CHANGE
31.12.2008
10'661.0
2.18x
3'899.0
5.97x
1'716.0
10.36x
3.0 M
70
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
JP MORGAN
BARCLAYS PLC
UBS
DIMENSIONAL FUND ADV
PERKINS INVESTMENT M
NORGES BANK
MANNING & NAPIER ADV
BANK OF AMERICA CORP
GEODE CAPITAL MANAGE
MORGAN STANLEY
CAMBIAR INVESTORS LL
KEYBANK NATIONAL ASS
Firm Name
Stifel
Raymond James
Sanford C. Bernstein & Co
TD Securities
Avondale Partners LLC
Morgan Stanley
Cowen Securities LLC
Wolfe Trahan & Co
Edward Jones
Stephens Inc
Atlantic Equities LLP
Barclays
RBC Capital Markets
Susquehanna Financial Group
Argus Research Corp
Jefferies
BMO Capital Markets
Wells Fargo Securities, LLC
FBR Capital Markets
Robert W. Baird & Co
Goldman Sachs
Credit Suisse
JPMorgan
Sterne, Agee & Leach
BB&T Capital Markets
EVA Dimensions
Deutsche Bank
S&P Capital IQ
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
T ROWE PRICE ASSOCIA
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
n/a
n/a
DIMENSIONAL FUND ADV
PERKINS INVESTMENT M
NORGES BANK
MANNING & NAPIER ADV
BANK OF AMERICA
GEODE CAPITAL MANAGE
n/a
CAMBIAR INVESTORS LL
KEYBANK NATIONAL ASS
Analyst
JOHN G LARKIN
PATRICK TYLER BROWN
DAVID VERNON
CHERILYN RADBOURNE
DONALD BROUGHTON
WILLIAM J GREENE
JASON H SEIDL
SCOTT H GROUP
LOGAN PURK
JUSTIN LONG
RORRIE MARS
BRANDON OGLENSKI
WALTER SPRACKLIN
MATT TROY
NATHANIEL GABRIEL
H PETER NESVOLD
FADI CHAMOUN
ANTHONY P GALLO
JOHN R MIMS
BENJAMIN J HARTFORD
TOM KIM
CHRISTOPHER J CERASO
THOMAS R WADEWITZ
JEFFREY A KAUFFMAN
MARK A LEVIN
CRAIG STERLING
JUSTIN B YAGERMAN
KEVIN KIRKEBY
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
13F
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
Recommendation
buy
outperform
market perform
buy
market perform
Equalwt/Attractive
buy
peerperform
buy
overweight
overweight
equalweight
outperform
Positive
hold
buy
outperform
market perform
market perform
neutral
neutral/neutral
outperform
neutral
buy
hold
hold
buy
buy
Amt Held
17'880'042
16'342'543
16'201'884
12'916'528
11'040'168
7'342'353
5'930'217
5'262'120
4'180'657
3'640'027
3'565'902
3'162'408
2'733'633
2'513'088
2'512'867
2'264'964
2'084'482
2'038'112
1'817'999
1'792'659
% Out
5.69
5.2
5.15
4.11
3.51
2.33
1.89
1.67
1.33
1.16
1.13
1.01
0.87
0.8
0.8
0.72
0.66
0.65
0.58
0.57
Weighting
Change
5
5
3
5
3
3
5
3
5
5
5
3
5
4
3
5
5
3
3
3
3
5
3
5
3
3
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
Latest Chg
(10'520'724)
(191'459)
42'877
6'552'293
(59'478)
848'073
(2'140'824)
3'093'778
204'361
(1'918)
1'184'644
482'528
33'585
11'617
(238'126)
(338'958)
(86'383)
1'156'395
Target Price
81
70
70
88
80
#N/A N/A
85
#N/A N/A
#N/A N/A
78
86
75
78
83
#N/A N/A
86
80
#N/A N/A
67
76
70
76
71
81
#N/A N/A
#N/A N/A
78
85
File Dt
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
9 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
25.03.2013
22.03.2013
22.03.2013
21.03.2013
20.03.2013
19.03.2013
14.03.2013
12.03.2013
12.03.2013
12.03.2013
12.03.2013
07.03.2013
07.03.2013
05.03.2013
01.03.2013
04.02.2013
01.02.2013
29.01.2013
28.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
15.01.2013
14.01.2013
25.10.2012
26.03.2013
Price/Volume
120
3.0 M
2.5 M
60
12/2012
12/yy
99.63
72.43
350'827.00
77.53
-22.18%
7.04%
20.66%
805.5
62'451.59
7'623.00
0.0
32.0
1'592.00
68'514.59
2.0 M
1.5 M
40
1.0 M
20
.5 M
0
m-12
31.12.2009
31.12.2010
14'814.0
19'045.0
4.58x
4.32x
7'755.0
10'816.0
8.75x
7.61x
2'915.0
4'530.0
21.02x
17.12x
Profitability
LTM-4Q
31.12.2011
23'939.0
3.26x
14'168.0
5.51x
6'771.0
11.41x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
24'172.0
2.80x
13'701.0
4.95x
4'598.0
10.81x
13'701.00
9'190.00
38.02%
32.07%
7.40%
11.84%
10.25%
0.39%
46.1%
56.7%
38.0%
19.0%
1.30
0.89
11.87%
19.05%
4.69
10.80
j-12
j-12
LTM
12/yy
23'939.0
13.05x
13'895.0
5.62x
6'771.0
11.22x
a-12
12/yy
24'172.0
12.14x
13'701.0
4.95x
4'598.0
10.81x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
2.79
1.36
793.63
9.50
-19.62%
1.99%
1.360
27
4.370
1'081'860
1'029'374
1'048'468
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
25'667.0
27'040.1
6'026.9
6'242.0
2.61x
2.40x
11.28x
10.90x
16'004.4
17'281.2
3'715.4
3'886.2
4.28x
3.96x
4.35x
4.28x
5'887.4
6'263.7
1'331.7
1'466.8
10.69x
9.98x
10.66x
10.47x
S&P Issuer Ratings
23.06.2008
A
STABLE
23.06.2008
A-1
105.39
26.73
0.44
0.56
19.0%
16.0%
0.39
0.49
78.06
33.88
137.66
-25.72
Sales/Revenue/Turnover
12.00
30'000.0
10.00
25'000.0
8.00
20'000.0
6.00
15'000.0
4.00
10'000.0
2.00
5'000.0
0.00
01.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
3.5 M
80
Valuation Analysis
31.12.2008
24'217.0
2.05x
14'622.0
3.39x
6'857.0
6.70x
4.0 M
100
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
WELLINGTON MANAGEMEN
FMR LLC
JP MORGAN
VANGUARD GROUP INC
BANK OF NEW YORK MEL
DODGE & COX
BARROW HANLEY MEWHIN
SUN LIFE FINANCIAL I
CAPITAL GROUP COMPAN
DAVIS SELECTED ADVIS
NORTHERN TRUST CORPO
NEUBERGER BERMAN LLC
TIAA CREF INVESTMENT
IRANI RAY R
INVESCO LTD
BANK OF AMERICA CORP
NORGES BANK
Firm Name
Capital One Southcoast, Inc.
Sterne, Agee & Leach
Raymond James
Tudor Pickering & Co
Edward Jones
ISI Group
Wells Fargo Securities, LLC
Susquehanna Financial Group
Cowen Securities LLC
RBC Capital Markets
Howard Weil Inc
Oppenheimer & Co
EVA Dimensions
Macquarie
Societe Generale
Simmons & Company International
Argus Research Corp
Morgan Stanley
Goldman Sachs
Credit Suisse
Barclays
JPMorgan
S&P Capital IQ
Deutsche Bank
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
WELLINGTON MANAGEMEN
n/a
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
DODGE & COX
BARROW HANLEY MEWHIN
n/a
n/a
DAVIS SELECTED ADVIS
NORTHERN TRUST CORPO
NEUBERGER BERMAN GRO
TIAA-CREF INVESTMENT
n/a
INVESCO LTD
BANK OF AMERICA
NORGES BANK
Analyst
ELIOT JAVANMARDI
TIM A REZVAN
PAVEL MOLCHANOV
MATTHEW PORTILLO
BRIAN YOUNGBERG
DOUGLAS T TERRESON
ROGER D READ
DUANE GRUBERT
ASIT SEN
LEO P MARIANI
PETER KISSEL
FADEL GHEIT
CRAIG STERLING
JASON D GAMMEL
JOHN HERRLIN
JEFFREY A DIETERT
PHILIP H WEISS
J EVAN CALIO
ARJUN N MURTI
EDWARD WESTLAKE
THOMAS R DRISCOLL
KATHERINE LUCAS MINYARD
MICHAEL KAY
PAUL SANKEY
Source
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
13F
Form 4
13F
13F
13F
Recommendation
add
buy
outperform
buy
buy
strong buy
market perform
neutral
buy
sector perform
sector outperform
outperform
overweight
neutral
buy
overweight
buy
Equalwt/Attractive
buy/attractive
outperform
equalweight
overweight
buy
hold
Amt Held
52'918'905
35'582'981
34'477'964
27'838'692
23'940'747
23'579'739
22'296'019
15'986'337
15'707'401
14'161'273
13'803'708
13'587'536
11'697'856
10'966'164
8'935'824
8'016'543
7'929'622
7'182'644
6'293'394
6'266'259
% Out
6.57
4.42
4.28
3.46
2.97
2.93
2.77
1.98
1.95
1.76
1.71
1.69
1.45
1.36
1.11
1
0.98
0.89
0.78
0.78
Weighting
Change
4
5
5
5
5
5
3
3
5
3
5
5
5
3
5
5
5
3
5
5
3
5
5
3
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
D
Latest Chg
793'395
613'049
644'741
(4'596'961)
207'333
2'480'521
(187'812)
(96'926)
(350'817)
(4'364)
(3'021'647)
370'372
(208'912)
(246'025)
(49'245)
1'087'018
(15'413)
(359'747)
Target Price
120
97
100
102
#N/A N/A
105
#N/A N/A
94
98
90
109
100
#N/A N/A
92
99
#N/A N/A
105
95
95
110
94
110
100
80
File Dt
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
21.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
12 month
Not Provided
18 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
9 month
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Investment Advisor
Investment Advisor
Government
Date
26.03.2013
22.03.2013
21.03.2013
21.03.2013
20.03.2013
20.03.2013
19.03.2013
19.03.2013
19.03.2013
18.03.2013
15.03.2013
08.03.2013
28.02.2013
21.02.2013
15.02.2013
15.02.2013
08.02.2013
01.02.2013
01.02.2013
01.02.2013
01.02.2013
31.01.2013
31.01.2013
03.12.2012
26.03.2013
Oracle Corp
Oracle Corporation supplies software for enterprise information management. The
Company offers databases and relational servers, application development and
decision support tools, and enterprise business applications. Oracle's software
runs on network computers, personal digital assistants, set-top devices, PCs,
workstations, minicomputers, mainframes, and massively parallel computers.
Price/Volume
30.0 M
25.0 M
25
20.0 M
20
05/2012
02/yy
36.43
25.33
3'115'104.00
31.47
-13.62%
24.24%
53.33%
4'710.7
148'244.41
16'474.00
0.0
399.0
30'676.00
135'031.40
15.0 M
15
10
10.0 M
5.0 M
0
m-12
31.05.2009
31.05.2010
23'252.0
26'820.0
4.11x
4.10x
10'531.0
12'138.0
9.08x
9.06x
5'593.0
6'135.0
14.40x
16.60x
Profitability
LTM-4Q
31.05.2011
35'622.0
4.52x
15'524.0
10.37x
8'547.0
19.33x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.05.2012
37'121.0
3.13x
16'973.0
6.84x
9'981.0
13.24x
16'973.00
14'057.00
37.87%
34.92%
13.74%
24.52%
18.40%
0.48%
78.8%
46.5%
38.6%
26.9%
2.60
2.41
21.03%
37.71%
8.42
38.07
j-12
j-12
LTM
02/yy
36'980.0
15.12x
16'698.0
7.85x
9'739.0
14.93x
a-12
02/yy
37'149.0
14.54x
17'286.0
8.58x
10'570.0
15.85x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
1.14
1.12
3'596.05
38.20
9.19%
-5.55%
1.120
45
4.356
12'766'517
6'804'784
6'093'292
FY+2
FQ+1
FQ+2
05/13 Y
05/14 Y
05/13 Q4 08/13 Q1
37'444.0
39'559.5
11'143.6
8'561.6
3.64x
3.25x
12.22x
15.45x
18'255.9
20'006.1
5'888.5
3'972.6
7.40x
6.76x
7.02x
6.86x
13'054.0
13'948.9
4'203.5
2'773.0
11.70x
10.73x
11.04x
10.73x
S&P Issuer Ratings
24.04.2012
A+
STABLE
24.04.2012
A-1+
22.16
21.31
-0.79
1.14
37.7%
27.2%
0.48
12.45
43.35
9.59
19.99
47.82
Sales/Revenue/Turnover
20.00
40'000.0
18.00
35'000.0
16.00
30'000.0
14.00
25'000.0
12.00
10.00
20'000.0
8.00
15'000.0
6.00
10'000.0
4.00
5'000.0
2.00
0.00
05.06.2009
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
35.0 M
35
30
Valuation Analysis
31.05.2008
22'430.0
5.25x
9'489.0
12.42x
5'521.0
18.27x
40
0.0
05.12.2009
05.06.2010
05.12.2010
05.06.2011
05.12.2011
05.06.2012
05.12.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Oracle Corp
Holdings By:
All
Holder Name
ELLISON LAWRENCE JOS
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
BANK OF NEW YORK MEL
WELLINGTON MANAGEMEN
SUN LIFE FINANCIAL I
FMR LLC
INVESCO LTD
NORTHERN TRUST CORPO
GRANTHAM MAYO VAN OT
JP MORGAN
TIAA CREF INVESTMENT
NORGES BANK
JANUS CAPITAL MANAGE
PRIMECAP MANAGEMENT
T ROWE PRICE ASSOCIA
ABERDEEN
Firm Name
Societe Generale
Jefferies
BMO Capital Markets
Morgan Stanley
Wedbush
William Blair & Co
Raymond James
Macquarie
Stifel
Wells Fargo Securities, LLC
Lazard Capital Markets
Longbow Research
Barclays
Edward Jones
Atlantic Equities LLP
Deutsche Bank
RBC Capital Markets
Argus Research Corp
Credit Suisse
JPMorgan
Janney Montgomery Scott LLC
Pacific Crest Securities
Sanford C. Bernstein & Co
FBR Capital Markets
Davenport & Co
Canaccord Genuity Corp
Berenberg Bank
Nomura
Cowen and Company
JMP Securities
Susquehanna Financial Group
Cross Research
Piper Jaffray
MKM Partners
Credit Agricole Securities (USA)
Evercore Partners
Oppenheimer & Co
EVA Dimensions
Tigress Financial Partners
Goldman Sachs
Daiwa Securities Co. Ltd.
Hamburger Sparkasse
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
WELLINGTON MANAGEMEN
n/a
n/a
INVESCO LTD
NORTHERN TRUST CORPO
GRANTHAM MAYO VAN OT
n/a
TIAA-CREF INVESTMENT
NORGES BANK
n/a
PRIMECAP MANAGEMENT
T ROWE PRICE ASSOCIA
n/a
Analyst
RICHARD NGUYEN
ROSS MACMILLAN
KARL KEIRSTEAD
KEITH WEISS
STEVEN R KOENIG
LAURA J LEDERMAN
MICHAEL TURITS
BRAD A ZELNICK
BRAD REBACK
JASON MAYNARD
JOEL P FISHBEIN JR
KEVIN M BUTTIGIEG
RAIMO LENSCHOW
JOSH OLSON
CHRISTOPHER HICKEY
THOMAS ERNST JR
MATTHEW HEDBERG
JOSEPH F BONNER
PHILIP WINSLOW
JOHN DIFUCCI
YUN KIM
BRENDAN BARNICLE
MARK L MOERDLER
DAVID M HILAL
F DRAKE JOHNSTONE
RICHARD DAVIS JR
DAUD KHAN
RICHARD G SHERLUND
PETER GOLDMACHER
PATRICK WALRAVENS
J DERRICK WOOD
RICHARD T WILLIAMS
MARK R MURPHY
ISRAEL HERNANDEZ
EDWARD MAGUIRE
STEWART KIRK MATERNE III
BRIAN SCHWARTZ
ANDREW S ZAMFOTIS
IVAN FEINSETH
HEATHER BELLINI
KAZUYA NISHIMURA
MARCO GUENTHER
Source
Form 4
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
13F
ULT-AGG
Recommendation
hold
hold
outperform
Overwt/In-Line
neutral
outperform
outperform
neutral
buy
outperform
buy
buy
overweight
buy
neutral
hold
outperform
buy
outperform
overweight
buy
outperform
market perform
outperform
buy
buy
buy
buy
neutral
market perform
Positive
hold
overweight
buy
underperform
equalweight
outperform
overweight
buy
Buy/Neutral
outperform
hold
Amt Held
1'112'434'580
249'496'992
222'486'587
171'937'103
159'347'580
109'521'992
78'316'425
77'278'005
76'931'851
75'285'789
65'680'186
56'379'053
49'190'816
43'932'887
39'724'493
38'397'212
32'702'179
32'112'868
28'440'138
27'001'141
% Out
23.62
5.3
4.72
3.65
3.38
2.32
1.66
1.64
1.63
1.6
1.39
1.2
1.04
0.93
0.84
0.82
0.69
0.68
0.6
0.57
Weighting
Change
3
3
5
5
3
5
5
3
5
5
5
5
5
5
3
3
5
5
5
5
5
5
3
5
5
5
5
5
3
3
4
3
5
5
1
3
5
5
5
5
5
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
D
M
D
N
M
M
M
Latest Chg
7'200'000
(12'392'864)
(374'398)
1'391'323
6'020'675
1'366'222
(4'612'811)
(1'872'445)
15'270'822
(2'439'523)
(610'493)
(1'571'164)
(11'533'565)
4'197'117
1'152'929
(4'513'686)
(1'663'800)
(2'801'171)
(120'100)
Target Price
37
36
43
39
36
#N/A N/A
36
36
37
#N/A N/A
41
38
38
#N/A N/A
33
29
37
39
40
40
43
44
36
39
40
42
35
39
#N/A N/A
#N/A N/A
40
35
37
38
35
36
40
#N/A N/A
#N/A N/A
39
38
#N/A N/A
File Dt
28.12.2012
31.12.2012
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
9 month
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Inst Type
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Date
26.03.2013
26.03.2013
25.03.2013
25.03.2013
25.03.2013
25.03.2013
25.03.2013
25.03.2013
25.03.2013
25.03.2013
25.03.2013
25.03.2013
25.03.2013
22.03.2013
22.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
21.03.2013
20.03.2013
20.03.2013
21.02.2013
20.02.2013
24.01.2013
24.12.2012
19.12.2012
26.03.2013
PepsiCo Inc
PepsiCo, Inc. operates worldwide beverage, snack and food businesses. The
Company manufacture or uses contract manufacturers, market and sell a variety of
grain-based snacks, carbonated and non-carbonated beverages and foods in
countries throughout the world.
Price/Volume
90
6.0 M
80
5.0 M
70
60
4.0 M
50
12/2012
12/yy
79.26
64.65
361'319.00
78.81
-0.57%
21.90%
90.21%
1'542.8
121'586.70
28'359.00
41.0
105.0
6'619.00
143'472.70
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
30
2.0 M
20
1.0 M
10
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
3.0 M
40
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (22.03.2013)
52-Week Low (12.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 13.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
PEP UN EQUITY YTD Change
PEP UN EQUITY YTD % CHANGE
31.12.2009
31.12.2010
43'232.0
57'838.0
2.31x
2.12x
9'679.0
10'659.0
10.31x
11.51x
5'946.0
6'320.0
16.43x
15.94x
Profitability
LTM-4Q
31.12.2011
66'504.0
1.90x
12'370.0
10.22x
6'443.0
14.94x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
65'492.0
1.94x
11'801.0
10.75x
6'178.0
16.59x
11'801.00
9'112.00
13.91%
12.68%
8.38%
28.86%
13.99%
0.89%
52.2%
18.0%
13.9%
9.4%
1.10
0.80
38.00%
127.44%
9.39
8.45
LTM
12/yy
66'504.0
7.90x
12'370.0
10.22x
6'443.0
14.98x
12/yy
65'492.0
7.94x
11'801.0
10.75x
6'178.0
16.63x
FY+1
2.70
0.56
1'539.69
11.92
23.47%
15.99%
0.564
24
4.250
1'538'227
1'618'678
1'583'839
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
68'122.2
71'287.6
12'604.9
17'128.7
2.10x
2.01x
11.34x
8.37x
13'150.0
13'893.6
2'304.2
3'478.7
10.91x
10.33x
11.04x
10.99x
6'790.6
7'276.8
1'106.4
1'875.0
17.96x
16.52x
17.96x
17.73x
S&P Issuer Ratings
17.03.2010
A
STABLE
17.01.1989
A-1
13.05
10.05
1.84
2.40
127.4%
55.9%
0.89
3.37
38.77
43.09
138.71
-56.84
Sales/Revenue/Turnover
16.00
70'000.0
14.00
60'000.0
12.00
50'000.0
10.00
40'000.0
8.00
30'000.0
6.00
20'000.0
4.00
10'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
PepsiCo Inc
Holdings By:
All
Holder Name
VANGUARD GROUP INC
BLACKROCK
STATE STREET
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
BANK OF AMERICA CORP
NORTHERN TRUST CORPO
YACKTMAN ASSET MANAG
T ROWE PRICE ASSOCIA
FMR LLC
JP MORGAN
ABERDEEN
FRANKLIN RESOURCES
GRANTHAM MAYO VAN OT
NORGES BANK
MORGAN STANLEY
TIAA CREF INVESTMENT
GOLDMAN SACHS GROUP
Firm Name
Gabelli & Co
Davenport & Co
Sanford C. Bernstein & Co
Stifel
Credit Agricole Securities (USA)
Morgan Stanley
Edward Jones
HSBC
Tigress Financial Partners
Janney Montgomery Scott LLC
Daiwa Securities Co. Ltd.
Wells Fargo Securities, LLC
Argus Research Corp
Deutsche Bank
JPMorgan
S&P Capital IQ
Barclays
EVA Dimensions
Goldman Sachs
Atlantic Equities LLP
Portfolio Name
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
n/a
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
BANK OF AMERICA
NORTHERN TRUST CORPO
YACKTMAN ASSET MANAG
T ROWE PRICE ASSOCIA
n/a
n/a
n/a
n/a
GRANTHAM MAYO VAN OT
NORGES BANK
n/a
TIAA-CREF INVESTMENT
GOLDMAN SACHS GROUP
Analyst
DAMIAN WITKOWSKI
ANN H GURKIN
ALI DIBADJ
MARK D SWARTZBERG
CAROLINE S LEVY
DARA MOHSENIAN
JACK P RUSSO
LAUREN E TORRES
IVAN FEINSETH
JONATHAN P FEENEY
TORU SUGIURA
BONNIE HERZOG
JOHN D STASZAK
WILLIAM G SCHMITZ
JOHN A FAUCHER
ESTHER KWON
MICHAEL J BRANCA
AUSTIN BURKETT
JUDY E HONG
VICTORIA COLLIN
Source
13F
ULT-AGG
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
Recommendation
buy
buy
outperform
hold
buy
Overwt/In-Line
buy
overweight
neutral
neutral
neutral
market perform
buy
buy
overweight
buy
overweight
hold
neutral/neutral
not rated
Amt Held
78'145'863
77'141'209
63'343'142
52'247'893
50'436'720
34'990'221
26'716'460
26'319'581
23'728'395
23'006'617
21'851'854
18'557'481
17'001'054
15'798'054
14'460'657
12'850'479
12'667'234
12'077'602
10'683'371
10'424'086
% Out
5.07
5
4.11
3.39
3.27
2.27
1.73
1.71
1.54
1.49
1.42
1.2
1.1
1.02
0.94
0.83
0.82
0.78
0.69
0.68
Weighting
Change
5
5
5
3
5
5
5
5
3
3
3
3
5
5
5
5
5
3
3
#N/A N/A
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
1'775'436
(2'527'749)
1'211'563
(3'610'256)
2'923'941
724'123
(879'872)
(56'301)
817'910
(550'261)
1'645'102
(525'000)
215'000
173'735
(1'434'002)
1'175'456
(278'555)
678'901
(2'129'386)
Target Price
#N/A N/A
83
79
#N/A N/A
85
85
#N/A N/A
81
#N/A N/A
77
78
#N/A N/A
82
80
82
79
80
#N/A N/A
77
#N/A N/A
File Dt
31.12.2012
22.03.2013
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
Date
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
9 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Unclassified
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
25.03.2013
22.03.2013
21.03.2013
19.03.2013
12.03.2013
07.03.2013
25.02.2013
25.02.2013
21.02.2013
21.02.2013
21.02.2013
19.02.2013
15.02.2013
15.02.2013
15.02.2013
15.02.2013
16.01.2013
11.01.2013
24.03.2010
26.03.2013
Pfizer Inc
Pfizer Inc. is a research-based, global pharmaceutical company that discovers,
develops, manufactures, and markets medicines for humans and animals. The
Company's products include prescription pharmaceuticals, non-prescription
self-medications, and animal health products such as anti-infective medicines
and vaccines.
Price/Volume
30.0 M
25.0 M
20.0 M
15
12/2012
12/yy
28.51
21.40
2'617'272.00
28.49
-0.07%
33.13%
95.08%
7'185.6
204'719.00
37'460.00
39.0
418.0
32'708.00
209'928.00
15.0 M
10
10.0 M
5.0 M
0
m-12
31.12.2009
31.12.2010
50'009.0
67'057.0
3.40x
2.34x
21'810.0
29'319.0
7.79x
5.35x
8'635.0
8'257.0
6.64x
7.92x
Profitability
LTM-4Q
31.12.2011
65'259.0
2.71x
26'640.0
6.64x
10'009.0
9.53x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
58'986.0
3.18x
25'602.0
7.33x
14'570.0
11.45x
25'602.00
17'991.00
30.50%
20.48%
7.80%
17.83%
13.13%
0.32%
80.8%
44.2%
31.4%
24.7%
2.15
1.58
20.16%
46.12%
4.68
1.67
j-12
j-12
LTM
12/yy
65'738.0
10.39x
28'175.0
6.28x
10'009.0
9.49x
a-12
12/yy
59'506.0
12.75x
26'309.0
7.13x
14'570.0
11.35x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
3.09
0.79
7'180.95
60.56
33.36%
14.59%
0.792
28
4.286
6'844'404
7'326'942
7'434'500
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
57'532.6
56'523.8
14'054.2
14'536.5
3.71x
3.59x
15.55x
15.04x
27'684.9
27'578.3
6'655.5
7'102.0
7.59x
7.61x
7.76x
16'194.5
16'151.9
3'979.1
4'232.9
12.51x
12.03x
12.54x
12.47x
S&P Issuer Ratings
16.10.2009
AA
STABLE
23.11.1981
A-1+
16.36
15.51
0.18
1.42
46.1%
31.4%
0.32
3.92
78.22
219.74
122.75
176.38
Sales/Revenue/Turnover
16.00
80'000.0
14.00
70'000.0
12.00
60'000.0
10.00
50'000.0
8.00
40'000.0
6.00
30'000.0
4.00
20'000.0
2.00
10'000.0
0.00
01.01.2010
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
35.0 M
25
20
Valuation Analysis
31.12.2008
48'296.0
2.35x
22'146.0
5.12x
8'104.0
7.32x
30
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Pfizer Inc
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
FMR LLC
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
T ROWE PRICE ASSOCIA
JP MORGAN
NORTHERN TRUST CORPO
FRANKLIN RESOURCES
CAPITAL GROUP COMPAN
SUN LIFE FINANCIAL I
STATE FARM MUTUAL AU
INVESCO LTD
DODGE & COX
AMERIPRISE FINANCIAL
DEUTSCHE BANK AG
NORGES BANK
BARROW HANLEY MEWHIN
Firm Name
Wells Fargo Securities, LLC
JPMorgan
Cowen and Company
Jefferies
Morgan Stanley
Independent Research GmbH
Sanford C. Bernstein & Co
Edward Jones
Leerink Swann & Co
ISI Group
Barclays
Credit Suisse
BMO Capital Markets
Goldman Sachs
Argus Research Corp
MKM Partners
Hilliard Lyons
S&P Capital IQ
Atlantic Equities LLP
Credit Agricole Securities (USA)
EVA Dimensions
Hamburger Sparkasse
MP Advisors Pvt Ltd
Cyrrus
First Global Stockbroking
Fincorp SAOG
McAdams Wright Ragen Inc
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
T ROWE PRICE ASSOCIA
n/a
NORTHERN TRUST CORPO
n/a
n/a
n/a
STATE FARM MUTUAL AU
INVESCO LTD
DODGE & COX
AMERIPRISE FINANCIAL
DEUTSCHE BANK AKTIEN
NORGES BANK
BARROW HANLEY MEWHIN
Analyst
MICHAEL K TONG
CHRISTOPHER T SCHOTT
STEVEN R SCALA
JEFFREY HOLFORD
DAVID R RISINGER
CHRISTOPH SCHOENDUBE
TIMOTHY M ANDERSON
JUDSON CLARK
SEAMUS FERNANDEZ
MARK J SCHOENEBAUM
CHARLES ANTHONY BUTLER
CATHERINE J ARNOLD
ALEX ARFAEI
JAMI E RUBIN
JOHN M EADE
JON LECROY
STEPHEN A O'NEIL
HERMAN SAFTLAS
RICHARD J PURKISS
KIM-LINH LINH VUKHAC
ANDREW S ZAMFOTIS
MARCO GUENTHER
VISHAL MANCHANDA
TOMAS MENCIK
KAVITA THOMAS
GAURAV RAMAIYA
PAUL C LATTA
Source
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
Recommendation
outperform
overweight
outperform
buy
Overwt/In-Line
hold
outperform
buy
market perform
buy
equalweight
neutral
outperform
buy/attractive
buy
neutral
long-term buy
buy
overweight
buy
overweight
sell
market perform
hold
moderate outperform
buy
focus list
Amt Held
467'679'306
331'368'274
320'738'183
205'607'383
157'905'984
156'030'667
142'368'936
121'260'105
114'332'303
108'664'901
106'343'918
97'163'184
85'223'148
79'999'525
74'316'209
71'247'670
68'795'682
61'377'548
60'070'940
57'986'630
% Out
6.51
4.61
4.46
2.86
2.2
2.17
1.98
1.69
1.59
1.51
1.48
1.35
1.19
1.11
1.03
0.99
0.96
0.85
0.84
0.81
Weighting
Change
5
5
5
5
5
3
5
5
3
5
3
3
5
5
5
3
5
5
5
5
5
1
3
3
4
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
Latest Chg
12'198'905
5'858'380
3'975'388
(499'554)
(11'042'127)
(3'423'485)
(11'952'305)
800'862
5'977'683
(7'649'121)
1'015'817
(438'836)
(4'367'986)
(3'406'089)
1'905'697
1'849'248
3'524'346
(1'065'370)
Target Price
#N/A N/A
32
#N/A N/A
31
31
29
30
#N/A N/A
#N/A N/A
29
25
29
31
32
32
28
32
31
33
32
#N/A N/A
#N/A N/A
21
24
#N/A N/A
24
25
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
9 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Date
22.03.2013
19.03.2013
15.03.2013
14.03.2013
13.03.2013
11.03.2013
05.03.2013
04.03.2013
20.02.2013
15.02.2013
14.02.2013
07.02.2013
01.02.2013
30.01.2013
30.01.2013
30.01.2013
29.01.2013
29.01.2013
29.01.2013
29.01.2013
16.01.2013
27.11.2012
08.08.2012
05.04.2012
09.02.2012
13.10.2011
30.04.2009
26.03.2013
Price/Volume
12/2012
12/yy
94.13
81.10
407'758.00
91.43
-2.87%
12.74%
83.58%
1'647.8
150'657.34
22'839.00
0.0
1'623.0
2'983.00
172'136.34
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
6.0 M
5.0 M
4.0 M
3.0 M
2.0 M
1.0 M
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
100
90
80
70
60
50
40
30
20
10
0
m-12
31.12.2009
31.12.2010
25'035.0
27'208.0
4.20x
4.48x
10'922.0
12'179.0
9.64x
10.01x
6'342.0
7'259.0
14.65x
15.12x
Profitability
LTM-4Q
31.12.2011
31'097.0
4.92x
14'434.0
10.60x
8'591.0
16.12x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
31'377.0
5.09x
14'827.0
10.78x
8'800.0
16.02x
14'827.00
13'929.00
44.39%
41.39%
24.06%
47.27%
0.86%
66.9%
47.3%
44.4%
28.0%
0.97
0.39
60.63%
9.24
1.22
LTM
12/yy
31'097.0
17.54x
14'434.0
10.60x
8'591.0
16.05x
12/yy
31'377.0
21.23x
14'827.0
10.78x
8'800.0
16.08x
FY+1
3.54
0.77
1'549.04
11.63
8.67%
10.33%
0.766
22
4.091
1'163'602
1'405'340
1'464'140
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
32'492.7
34'410.1
7'521.9
8'422.0
5.35x
5.10x
15'707.0
16'771.1
3'708.0
4'060.3
10.94x
10.25x
11.03x
10.92x
9'350.4
10'003.8
2'225.9
2'438.0
15.86x
14.27x
15.85x
15.50x
S&P Issuer Ratings
05.03.2008
A
STABLE
05.03.2008
A-1
14.72
13.68
1.34
1.54
108.8%
0.86
4.87
39.60
301.13
34.86
305.87
Sales/Revenue/Turnover
20.00
35'000.0
18.00
30'000.0
16.00
14.00
25'000.0
12.00
20'000.0
10.00
15'000.0
8.00
10'000.0
6.00
4.00
5'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
BANK OF NEW YORK MEL
FMR LLC
SUN LIFE FINANCIAL I
WELLINGTON MANAGEMEN
FAYEZ SAROFIM
MORGAN STANLEY
NORTHERN TRUST CORPO
BARROW HANLEY MEWHIN
JP MORGAN
AMERIPRISE FINANCIAL
TIAA CREF INVESTMENT
GOLDMAN SACHS GROUP
GRANTHAM MAYO VAN OT
WADDELL & REED FINAN
JANUS CAPITAL MANAGE
Firm Name
Berenberg Bank
Argus Research Corp
Stifel
Morgan Stanley
Edward Jones
Jefferies
Nomura
Wells Fargo Securities, LLC
Daiwa Securities Co. Ltd.
Davenport & Co
EVA Dimensions
Credit Suisse
Goldman Sachs
Renaissance Capital
JPMorgan
S&P Capital IQ
Credit Agricole Securities (USA)
Barclays
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
BANK OF NEW YORK MEL
n/a
n/a
WELLINGTON MANAGEMEN
FAYEZ SAROFIM
n/a
NORTHERN TRUST CORPO
BARROW HANLEY MEWHIN
n/a
AMERIPRISE FINANCIAL
TIAA-CREF INVESTMENT
GOLDMAN SACHS GROUP
GRANTHAM MAYO VAN OT
WADDELL & REED FINAN
n/a
Analyst
ERIK BLOOMQUIST
NATHANIEL GABRIEL
CHRISTOPHER R GROWE
DAVID J ADELMAN
JACK P RUSSO
THILO WREDE
DAVID HAYES
BONNIE HERZOG
TORU SUGIURA
ANN H GURKIN
AUSTIN BURKETT
ROGERIO FUJIMORI
JUDY E HONG
REY WIUM
RAE MAILE
ESTHER KWON
MICHAEL LAVERY
MICHAEL J BRANCA
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
Recommendation
buy
buy
buy
Overwt/In-Line
buy
hold
neutral
outperform
neutral
buy
underweight
neutral
Buy/Neutral
hold
neutral
strong buy
outperform
overweight
Amt Held
154'706'998
92'372'880
77'615'569
72'357'238
48'983'814
31'068'549
30'701'447
25'397'031
23'867'658
21'903'361
21'862'438
21'801'786
21'113'825
18'650'343
15'259'175
14'969'674
14'822'177
14'136'327
13'996'344
13'738'249
% Out
9.39
5.61
4.71
4.39
2.97
1.89
1.86
1.54
1.45
1.33
1.33
1.32
1.28
1.13
0.93
0.91
0.9
0.86
0.85
0.83
Weighting
Change
5
5
5
5
5
3
3
5
3
5
1
3
5
3
3
5
5
5
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
Latest Chg
(6'590'968)
1'083'898
(555'811)
4'540'253
575'138
(15'920)
(357'832)
(3'147'352)
(1'918'464)
(270'510)
(200'359)
(2'415'155)
(1'038'181)
(304'054)
(459'525)
(844'857)
(271'743)
130'964
Target Price
100
98
95
95
#N/A N/A
95
96
#N/A N/A
91
100
#N/A N/A
90
105
96
108
101
100
97
File Dt
31.12.2012
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
9 month
Not Provided
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
21.03.2013
20.03.2013
15.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
13.03.2013
27.02.2013
27.02.2013
25.02.2013
15.02.2013
08.02.2013
08.02.2013
07.02.2013
07.02.2013
07.02.2013
07.02.2013
26.03.2013
Price/Volume
90
12.0 M
80
10.0 M
70
60
8.0 M
50
06/2012
12/yy
77.82
59.08
354'678.00
77.4
-0.54%
31.01%
93.92%
2'731.7
211'429.80
29'778.00
1'195.0
596.0
4'436.00
240'010.79
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
30
4.0 M
20
2.0 M
10
0
m-12
30.06.2009
30.06.2010
76'694.0
78'938.0
2.38x
2.52x
18'456.0
19'129.0
9.91x
10.41x
13'436.0
12'736.0
14.73x
16.34x
Profitability
LTM-4Q
30.06.2011
82'559.0
2.50x
18'656.0
11.08x
11'797.0
16.09x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
30.06.2012
83'680.0
2.34x
18'072.0
10.82x
10'756.0
15.91x
18'072.00
14'868.00
17.77%
15.28%
9.42%
19.80%
13.67%
0.61%
49.3%
21.6%
17.8%
12.9%
0.88
0.42
22.52%
47.84%
11.83
5.72
j-12
j-12
LTM
12/yy
84'027.0
9.86x
18'368.0
11.68x
10'097.0
17.19x
a-12
12/yy
83'320.0
10.11x
18'023.0
11.88x
12'913.0
17.14x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
2.86
0.64
2'729.76
25.14
18.60%
14.93%
0.641
33
3.788
1'776'018
2'498'381
2'571'407
FY+2
FQ+1
FQ+2
06/13 Y
06/14 Y
03/13 Q3 06/13 Q4
84'658.3
87'723.4
20'760.8
20'968.5
2.83x
2.71x
11.55x
11.41x
19'281.0
20'591.1
4'754.2
4'135.5
12.45x
11.66x
12.08x
11.98x
11'828.5
12'568.7
2'762.5
2'379.9
19.06x
17.71x
18.56x
18.17x
S&P Issuer Ratings
10.05.2005
AASTABLE
10.05.2005
A-1+
23.50
18.35
1.49
1.85
47.8%
31.7%
0.61
4.01
30.94
63.94
60.91
17.96
Sales/Revenue/Turnover
16.00
90'000.0
14.00
80'000.0
12.00
70'000.0
60'000.0
10.00
50'000.0
8.00
40'000.0
6.00
30'000.0
4.00
20'000.0
2.00
10'000.0
0.00
03.07.2009
a-12 m-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
6.0 M
40
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (20.03.2013)
52-Week Low (26.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.12.2012
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
PG UN EQUITY YTD Change
PG UN EQUITY YTD % CHANGE
0.0
03.01.2010
03.07.2010
03.01.2011
03.07.2011
03.01.2012
03.07.2012
03.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
BERKSHIRE HATHAWAY I
FMR LLC
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
CAPITAL GROUP COMPAN
T ROWE PRICE ASSOCIA
PERSHING SQUARE CAPI
YACKTMAN ASSET MANAG
JP MORGAN
MORGAN STANLEY
NORGES BANK
WELLINGTON MANAGEMEN
BANK OF AMERICA CORP
STATE FARM MUTUAL AU
DEUTSCHE BANK AG
GEODE CAPITAL MANAGE
Firm Name
SunTrust Robinson Humphrey
Sanford C. Bernstein & Co
Stifel
B Riley & Company, Inc
Credit Agricole Securities (USA)
Credit Suisse
RBC Capital Markets
JPMorgan
William Blair & Co
Buckingham Research Group
Edward Jones
Canaccord Genuity Corp
BMO Capital Markets
Tigress Financial Partners
Wells Fargo Securities, LLC
Independent Research GmbH
Barclays
Oppenheimer & Co
Argus Research Corp
Daiwa Securities Co. Ltd.
Morgan Stanley
Goldman Sachs
Hilliard Lyons
Janney Montgomery Scott LLC
Deutsche Bank
EVA Dimensions
Atlantic Equities LLP
S&P Capital IQ
Gabelli & Co
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
n/a
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
T ROWE PRICE ASSOCIA
PERSHING SQUARE CAPI
YACKTMAN ASSET MANAG
n/a
n/a
NORGES BANK
WELLINGTON MANAGEMEN
BANK OF AMERICA
STATE FARM MUTUAL AU
DEUTSCHE BANK AKTIEN
GEODE CAPITAL MANAGE
Analyst
WILLIAM CHAPPELL
ALI DIBADJ
MARK S ASTRACHAN
LINDA BOLTON WEISER
CAROLINE S LEVY
MICHAEL STEIB
JASON M GERE
JOHN A FAUCHER
JON R ANDERSEN
ALICE BEEBE LONGLEY
JACK P RUSSO
ALICIA FORRY
CONSTANCE M MANEATY
IVAN FEINSETH
TIMOTHY A CONDER
LARS LUSEBRINK
LAUREN R LIEBERMAN
JOSEPH ALTOBELLO
JOHN D STASZAK
TORU SUGIURA
DARA MOHSENIAN
JASON ENGLISH
JEFFREY S THOMISON
JOHN SAN MARCO
WILLIAM G SCHMITZ
AUSTIN BURKETT
VICTORIA COLLIN
IAN GORDON
SARAH DONNELLY
Source
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
Recommendation
neutral
outperform
hold
buy
outperform
neutral
sector perform
overweight
outperform
neutral
buy
buy
outperform
neutral
market perform
hold
overweight
market perform
buy
neutral
Equalwt/In-Line
neutral/neutral
neutral
buy
buy
underweight
neutral
hold
buy
Amt Held
142'389'276
131'378'360
123'571'583
85'015'004
52'793'078
51'875'763
42'645'901
41'293'572
34'430'434
29'428'901
27'946'892
27'752'099
27'640'222
24'860'139
22'102'179
22'029'700
20'374'341
20'372'600
18'112'918
18'110'048
% Out
5.21
4.81
4.52
3.11
1.93
1.9
1.56
1.51
1.26
1.08
1.02
1.02
1.01
0.91
0.81
0.81
0.75
0.75
0.66
0.66
Weighting
Change
3
5
3
5
5
3
3
5
5
3
5
5
5
3
3
3
5
3
5
3
3
3
3
5
5
1
3
3
5
M
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(40'983)
3'636'617
4'203'749
4'616'569
(231'272)
2'390'530
291'175
(513'138)
(29'254)
1'184'048
1'054'432
1'884'347
196'666
(89'752)
288'300
7'436'710
(1'774'571)
Target Price
75
80
#N/A N/A
87
87
75
77
80
#N/A N/A
73
#N/A N/A
87
81
#N/A N/A
#N/A N/A
80
81
#N/A N/A
84
76
#N/A N/A
76
#N/A N/A
81
80
#N/A N/A
70
71
#N/A N/A
File Dt
Inst Type
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Government
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Insurance Company
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
9 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Date
26.03.2013
22.03.2013
21.03.2013
20.03.2013
13.03.2013
12.03.2013
11.03.2013
08.03.2013
08.03.2013
08.03.2013
07.03.2013
05.03.2013
25.02.2013
25.02.2013
21.02.2013
18.02.2013
15.02.2013
14.02.2013
29.01.2013
29.01.2013
28.01.2013
28.01.2013
28.01.2013
28.01.2013
26.01.2013
16.01.2013
19.11.2012
25.10.2012
02.02.2009
26.03.2013
QUALCOMM Inc
QUALCOMM, Inc . manufactures digital wireless communications equipment. The
Company licenses its code division multiple access (CDMA) and orthogonal
frequency division multiplexing access intellectual property to other companies,
and produces CDMA-based integrated circuits, and produces equipment and software
used to track workers and assets, and software for wireless content enablement.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (27.03.2012)
52-Week Low (17.07.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 28.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
QCOM UW EQUITY YTD Change
QCOM UW EQUITY YTD % CHANGE
09/2012
12/yy
68.87
53.09
1'089'535.00
66.35
-3.66%
24.98%
79.72%
1'718.1
113'997.91
0.00
0.0
22.0
26'837.00
85'678.92
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
16.0 M
70
14.0 M
60
12.0 M
50
10.0 M
40
8.0 M
30
6.0 M
20
4.0 M
10
2.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
80
30.09.2009
30.09.2010
10'416.0
10'982.0
5.46x
4.96x
3'644.0
4'393.0
15.60x
12.41x
1'592.0
3'247.0
43.40x
18.96x
Profitability
LTM-4Q
30.09.2011
14'957.0
4.32x
6'087.0
10.62x
4'260.0
16.71x
30.09.2012
19'121.0
4.17x
6'579.0
12.12x
6'109.0
22.39x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
6'579.00
5'682.00
29.72%
34.32%
16.04%
20.73%
20.44%
0.50%
62.9%
34.9%
30.4%
31.9%
2.95
2.61
0.00%
0.00%
15.26
7.61
LTM
12/yy
16'291.0
16.85x
6'487.0
10.96x
4'491.0
18.65x
12/yy
20'458.0
15.34x
7'149.0
10.59x
6'614.0
15.79x
FY+1
1.45
1.05
1'696.72
14.00
-1.69%
7.38%
1.050
48
4.625
2'740'837
3'008'237
3'116'196
FY+2
FQ+1
FQ+2
09/13 Y
09/14 Y
03/13 Q2 06/13 Q3
24'133.8
26'886.5
6'063.1
5'862.4
3.70x
3.03x
14.82x
15.17x
9'143.4
10'007.7
2'345.0
2'067.0
9.38x
8.57x
9.38x
9.20x
7'894.7
8'768.4
2'050.0
1'825.8
14.72x
13.52x
14.78x
14.57x
S&P Issuer Ratings
19.12.2001
NR
73.10
58.83
-3.96
0.00
0.0%
0.0%
0.50
7.47
24.32
48.72
59.93
13.58
Sales/Revenue/Turnover
35.00
25'000.0
30.00
20'000.0
25.00
15'000.0
20.00
15.00
10'000.0
10.00
5'000.0
5.00
0.00
02.10.2009
0.0
02.04.2010
02.10.2010
02.04.2011
02.10.2011
02.04.2012
02.10.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
QUALCOMM Inc
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
FMR LLC
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
BANK OF NEW YORK MEL
INVESCO LTD
JP MORGAN
NORTHERN TRUST CORPO
AMERIPRISE FINANCIAL
UBS
JACOBS IRWIN MARK
GOLDMAN SACHS GROUP
PRIMECAP MANAGEMENT
TIAA CREF INVESTMENT
WELLINGTON MANAGEMEN
SANDS CAPITAL MANAGE
WINSLOW CAPITAL MANA
DEUTSCHE BANK AG
Firm Name
Exane BNP Paribas
Wells Fargo Securities, LLC
Piper Jaffray
Morgan Stanley
MKM Partners
Susquehanna Financial Group
Nomura
Evercore Partners
Cowen and Company
Tigress Financial Partners
Lazard Capital Markets
RBC Capital Markets
William Blair & Co
Sanford C. Bernstein & Co
BMO Capital Markets
Edward Jones
Societe Generale
D.A. Davidson & Co
Argus Research Corp
Credit Suisse
Raymond James
Scotia Capital
Berenberg Bank
S&P Capital IQ
FBR Capital Markets
Canaccord Genuity Corp
Oppenheimer & Co
JMP Securities
Wedge Partners
Drexel Hamilton LLC
JPMorgan
Barclays
Daiwa Securities Co. Ltd.
Deutsche Bank
Goldman Sachs
Brean Murray Carret & Co
Macquarie
Davenport & Co
Williams Financial Group
Atlantic Equities LLP
Credit Agricole Securities (USA)
EVA Dimensions
Pacific Crest Securities
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
T ROWE PRICE ASSOCIA
Multiple Portfolios
BANK OF NEW YORK MEL
INVESCO LTD
n/a
NORTHERN TRUST CORPO
AMERIPRISE FINANCIAL
n/a
n/a
GOLDMAN SACHS GROUP
PRIMECAP MANAGEMENT
TIAA-CREF INVESTMENT
WELLINGTON MANAGEMEN
SANDS CAPITAL MANAGE
WINSLOW CAPITAL MANA
DEUTSCHE BANK AKTIEN
Analyst
JEROME RAMEL
DAVID M WONG
AUGUSTE P RICHARD
EHUD A GELBLUM
DANIEL A BERENBAUM
CHRISTOPHER CASO
ROMIT SHAH
MARK A MCKECHNIE
MATTHEW HOFFMAN
IVAN FEINSETH
IAN ING
MARK SUE
ANIL K DORADLA
STACY A RASGON
TIMOTHY P LONG
WILLIAM C KREHER
PETER KNOX
AALOK K SHAH
JAMES KELLEHER
KULBINDER GARCHA
TAVIS C MCCOURT
GUS PAPAGEORGIOU
ADNAAN AHMAD
JAMES G MOORMAN
CHRISTOPHER ROLLAND
T MICHAEL WALKLEY
ITTAI KIDRON
ALEX GAUNA
BRIAN BLAIR
RICHARD WHITTINGTON
ROD HALL
BLAYNE CURTIS
YOKO YAMADA
BRIAN T MODOFF
SIMONA JANKOWSKI
MIKE BURTON
SHAWN WEBSTER
F DRAKE JOHNSTONE
CODY G ACREE
JAMES CORDWELL
SRINI PAJJURI
ANDREW S ZAMFOTIS
JAMES FAUCETTE
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
MF-AGG
13F
13F
ULT-AGG
13F
13F
ULT-AGG
Form 4
13F
13F
13F
13F
13F
13F
13F
Recommendation
outperform
outperform
overweight
Overwt/Attractive
buy
Positive
buy
overweight
outperform
strong buy
buy
outperform
outperform
outperform
outperform
buy
hold
neutral
buy
outperform
outperform
focus stock
sell
strong buy
outperform
buy
outperform
market outperform
no rating system
buy
neutral
overweight
outperform
buy
Buy/Neutral
buy
outperform
buy
hold
overweight
outperform
overweight
outperform
Amt Held
97'445'750
76'175'417
70'103'690
65'989'412
48'565'229
48'341'005
39'259'157
28'145'539
28'068'364
26'620'183
20'000'786
18'812'964
18'545'579
18'055'113
17'971'145
16'861'913
16'431'203
15'415'875
15'097'814
15'092'976
% Out
5.67
4.43
4.08
3.84
2.83
2.81
2.28
1.64
1.63
1.55
1.16
1.09
1.08
1.05
1.05
0.98
0.96
0.9
0.88
0.88
Weighting
Change
5
5
5
5
5
4
5
5
5
5
5
5
5
5
5
5
3
3
5
5
5
5
1
5
5
5
5
4
#N/A N/A
5
3
5
5
5
5
5
5
5
3
5
5
5
5
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
U
M
Latest Chg
(1'097'545)
1'586'995
2'749'399
(13'864'751)
(1'402'853)
1'723'682
(3'535'861)
3'817'042
(44'394)
(101'415)
(894'092)
(66'379)
(97'239)
(245'290)
1'737'652
(5'446'906)
(4'025'353)
(2'711'518)
3'254'562
Target Price
75
#N/A N/A
83
73
74
85
75
85
#N/A N/A
#N/A N/A
79
77
#N/A N/A
80
80
#N/A N/A
64
65
80
85
80
81
50
84
76
83
72
75
#N/A N/A
80
70
77
71
78
80
80
75
72
#N/A N/A
80
74
#N/A N/A
70
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
05.03.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
18 month
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
18 month
12 month
Not Provided
12 month
9 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Unclassified
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
25.03.2013
25.03.2013
22.03.2013
22.03.2013
21.03.2013
19.03.2013
18.03.2013
18.03.2013
18.03.2013
15.03.2013
14.03.2013
14.03.2013
13.03.2013
10.03.2013
08.03.2013
07.03.2013
07.03.2013
06.03.2013
05.03.2013
05.03.2013
05.03.2013
05.03.2013
05.03.2013
04.03.2013
03.03.2013
25.02.2013
25.02.2013
22.02.2013
13.02.2013
12.02.2013
11.02.2013
04.02.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
30.01.2013
26.03.2013
Raytheon Co
Raytheon Company is a technology company specializing in defense, homeland
security and other government markets throughout the world. The Company provides
electronics, mission systems integration and other capabilities in the areas of
sensing, effects, and command, control, communications and intelligence systems,
as well as mission support services.
Price/Volume
70
12/2012
12/yy
59.34
49.03
113'071.00
57.71
-2.75%
17.70%
74.98%
326.4
18'833.95
4'731.00
0.0
164.0
4'044.00
19'684.95
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
40
1.5 M
30
1.0 M
20
.5 M
10
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
2.0 M
50
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (21.12.2012)
52-Week Low (04.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 11.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
RTN UN EQUITY YTD Change
RTN UN EQUITY YTD % CHANGE
2.5 M
60
31.12.2009
31.12.2010
24'881.0
25'183.0
0.77x
0.66x
3'444.0
3'027.0
5.60x
5.53x
1'935.0
1'840.0
10.64x
8.76x
Profitability
LTM-4Q
31.12.2011
24'791.0
0.69x
3'274.0
5.24x
1'866.0
8.27x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
24'414.0
0.81x
3'444.0
5.73x
1'888.0
9.28x
3'444.00
2'989.00
12.24%
11.38%
7.19%
23.30%
15.75%
0.93%
21.8%
14.1%
12.2%
7.7%
1.57
0.69
17.73%
58.95%
3.90
LTM
12/yy
24'791.0
2.87x
3'274.0
5.24x
1'866.0
8.27x
12/yy
24'414.0
3.24x
3'444.0
5.73x
1'888.0
9.25x
FY+1
3.47
0.83
324.38
6.28
12.97%
0.26%
0.834
22
3.545
392'988
541'578
547'586
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
23'853.5
23'525.6
5'699.5
5'860.8
0.82x
0.82x
3.50x
3.44x
3'133.7
3'158.8
750.3
769.0
6.29x
6.24x
6.29x
1'739.1
1'758.9
425.4
425.9
10.82x
10.37x
10.78x
10.80x
S&P Issuer Ratings
04.09.2008
ASTABLE
15.07.2005
A-2
16.80
15.15
0.20
1.37
58.9%
36.6%
0.93
12.23
93.80
27.28
-
Sales/Revenue/Turnover
16.00
30'000.0
14.00
25'000.0
12.00
20'000.0
10.00
8.00
15'000.0
6.00
10'000.0
4.00
5'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Raytheon Co
Holdings By:
All
Holder Name
BLACKROCK
BARROW HANLEY MEWHIN
VANGUARD GROUP INC
STATE STREET
WELLINGTON MANAGEMEN
VANGUARD GROUP INC
FMR LLC
FRANKLIN RESOURCES
BANK OF NEW YORK MEL
AMERIPRISE FINANCIAL
T ROWE PRICE ASSOCIA
LSV ASSET MANAGEMENT
INVESCO LTD
NORTHERN TRUST CORPO
ADAGE CAPITAL PARTNE
MACQUARIE GROUP
CLEARBRIDGE INVESTME
AJO, LP
SASCO CAPITAL INCORP
UBS
Firm Name
Jefferies
Stifel
Cowen and Company
Drexel Hamilton LLC
Sanford C. Bernstein & Co
Wells Fargo Securities, LLC
CRT Capital Group
Goldman Sachs
RBC Capital Markets
Argus Research Corp
Barclays
FBR Capital Markets
Sterne, Agee & Leach
Credit Suisse
JPMorgan
Oppenheimer & Co
EVA Dimensions
Deutsche Bank
Buckingham Research Group
Shore Capital Stockbrokers
Portfolio Name
n/a
BARROW HANLEY MEWHIN
VANGUARD GROUP INC
n/a
WELLINGTON MANAGEMEN
Multiple Portfolios
n/a
n/a
BANK OF NEW YORK MEL
AMERIPRISE FINANCIAL
T ROWE PRICE ASSOCIA
LSV ASSET MANAGEMENT
INVESCO LTD
NORTHERN TRUST CORPO
ADAGE CAPITAL PARTNE
n/a
CLEARBRIDGE INVESTME
AJO, LP
SASCO CAPITAL INCORP
n/a
Analyst
HOWARD A RUBEL
WILLIAM R LOOMIS
CAI VON RUMOHR
PETER J SKIBITSKI
DOUGLAS S HARNED
SAMUEL J PEARLSTEIN
BRIAN W RUTTENBUR
NOAH POPONAK
ROBERT STALLARD
NATHANIEL GABRIEL
CARTER COPELAND
PATRICK J MCCARTHY
PETER J ARMENT
ROBERT M SPINGARN
JOSEPH B NADOL III
YAIR REINER
CRAIG STERLING
MYLES WALTON
RICHARD SAFRAN
GREG JOHNSON
Source
ULT-AGG
13F
13F
ULT-AGG
13F
MF-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
ULT-AGG
Recommendation
buy
buy
neutral
hold
outperform
outperform
Fairly Valued
Sell/Neutral
sector perform
hold
overweight
market perform
neutral
outperform
neutral
market perform
buy
hold
neutral
hold
Amt Held
26'945'085
19'692'149
15'242'064
13'817'801
11'102'277
9'069'773
6'797'692
5'854'375
4'956'575
4'884'841
4'570'897
4'543'796
4'457'200
4'246'576
4'165'967
4'113'579
3'535'471
3'419'700
3'407'480
3'222'278
% Out
8.26
6.03
4.67
4.23
3.4
2.78
2.08
1.79
1.52
1.5
1.4
1.39
1.37
1.3
1.28
1.26
1.08
1.05
1.04
0.99
Weighting
Change
5
5
3
3
5
5
3
1
3
3
5
3
3
5
3
3
5
3
3
3
M
M
M
U
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(332'076)
388'441
409'244
639'326
(1'138'546)
(153'070)
(89'862)
188'355
(259'395)
(206'704)
200'003
46'495
3'206'200
81'201
(7'492)
1'415'900
(55'871)
197'559
Target Price
66
63
#N/A N/A
45
67
#N/A N/A
49
50
54
#N/A N/A
60
56
#N/A N/A
62
57
#N/A N/A
#N/A N/A
60
#N/A N/A
#N/A N/A
File Dt
Inst Type
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.01.2013
Unclassified
Date
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
9 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Date
25.03.2013
25.03.2013
25.03.2013
25.03.2013
22.03.2013
21.03.2013
19.03.2013
06.03.2013
20.02.2013
08.02.2013
06.02.2013
25.01.2013
25.01.2013
24.01.2013
24.01.2013
24.01.2013
16.01.2013
15.01.2013
09.11.2012
09.03.2011
26.03.2013
Schlumberger Ltd
Schlumberger Limited is an oil services company. The Company, through its
subsidiaries, provides a wide range of services, including technology, project
management and information solutions to the international petroleum industry as
well as advanced acquisition and data processing surveys.
Price/Volume
90
6.0 M
80
5.0 M
70
60
4.0 M
50
12/2012
12/yy
82.00
59.12
462'604.00
74.18
-9.54%
25.47%
64.42%
1'331.0
98'734.67
11'630.00
0.0
107.0
6'274.00
104'197.67
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
30
2.0 M
20
1.0 M
10
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
3.0 M
40
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (14.02.2013)
52-Week Low (26.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 02.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
SLB UN EQUITY YTD Change
SLB UN EQUITY YTD % CHANGE
31.12.2009
31.12.2010
22'702.0
27'447.0
3.47x
4.26x
6'596.0
7'133.0
11.94x
16.40x
3'134.0
4'267.0
23.41x
31.51x
Profitability
LTM-4Q
31.12.2011
36'959.0
2.61x
9'794.0
9.84x
4'997.0
19.08x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
42'149.0
2.31x
11'020.0
8.85x
5'490.0
16.66x
11'020.00
7'520.00
17.84%
17.06%
9.40%
16.63%
13.17%
0.73%
21.6%
25.8%
17.6%
13.0%
1.95
1.43
18.90%
33.47%
4.11
7.11
LTM
12/yy
37'553.0
11.57x
9'817.0
9.82x
4'998.0
18.98x
12/yy
42'841.0
9.17x
11'055.0
8.82x
5'490.0
16.54x
FY+1
1.48
1.37
1'327.70
12.80
4.09%
7.47%
1.369
39
4.590
2'451'157
1'870'249
1'828'916
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
46'182.0
51'560.5
10'751.5
11'289.7
2.21x
1.91x
9.74x
9.24x
12'364.6
14'190.5
2'814.5
3'008.4
8.43x
7.34x
8.34x
8.09x
6'299.6
7'698.8
1'347.5
1'503.9
15.71x
12.82x
15.71x
14.95x
S&P Issuer Ratings
11.12.2002
A+
STABLE
11.12.2002
A-1
32.41
18.60
0.48
1.05
33.5%
25.0%
0.73
3.09
89.07
51.47
86.78
54.51
Sales/Revenue/Turnover
25.00
45'000.0
40'000.0
20.00
35'000.0
30'000.0
15.00
25'000.0
20'000.0
10.00
15'000.0
10'000.0
5.00
5'000.0
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Schlumberger Ltd
Holdings By:
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
DODGE & COX
T ROWE PRICE ASSOCIA
BANK OF NEW YORK MEL
JP MORGAN
NORTHERN TRUST CORPO
FMR LLC
THORNBURG INVESTMENT
SUN LIFE FINANCIAL I
SANDS CAPITAL MANAGE
NORGES BANK
MANNING & NAPIER ADV
GOLDMAN SACHS GROUP
UBS
TIAA CREF INVESTMENT
BANK OF AMERICA CORP
Firm Name
Credit Suisse
RBC Capital Markets
Howard Weil Inc
Raymond James
Edward Jones
Guggenheim Securities LLC
Sanford C. Bernstein & Co
ISI Group
RS Platou Markets
Capital One Southcoast, Inc.
Jefferies
Wells Fargo Securities, LLC
William Blair & Co
Global Hunter Securities
Stephens Inc
Macquarie
Susquehanna Financial Group
JPMorgan
Cowen Securities LLC
EVA Dimensions
Sterne, Agee & Leach
Societe Generale
Deutsche Bank
Argus Research Corp
Johnson Rice & Co
HSBC
FBR Capital Markets
BMO Capital Markets
Morgan Stanley
Credit Agricole Securities (USA)
Barclays
S&P Capital IQ
Tudor Pickering & Co
Goldman Sachs
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
DODGE & COX
T ROWE PRICE ASSOCIA
BANK OF NEW YORK MEL
n/a
NORTHERN TRUST CORPO
n/a
THORNBURG INVESTMENT
n/a
SANDS CAPITAL MANAGE
NORGES BANK
MANNING & NAPIER ADV
GOLDMAN SACHS GROUP
n/a
TIAA-CREF INVESTMENT
BANK OF AMERICA
Analyst
JAMES WICKLUND
KURT HALLEAD
WILLIAM SANCHEZ
J MARSHALL ADKINS
BRIAN YOUNGBERG
MICHAEL K LAMOTTE
SCOTT GRUBER
JUDSON E BAILEY
TURNER HOLM
LUKE M LEMOINE
BRAD HANDLER
MATTHEW D CONLAN
BRANDON DOBELL
JEFFREY SPITTEL
JOHN KELLER
NIGEL BROWNE
CHARLES P MINERVINO
J DAVID ANDERSON
JAMES D CRANDELL
CRAIG STERLING
STEPHEN D GENGARO
EDWARD C MUZTAFAGO
MICHAEL W URBAN
PHILIP H WEISS
DANIEL BURKE
DAVID PHILLIPS
ROBERT J MACKENZIE
ALAN D LAWS
OLE SLORER
DAVID S HAVENS
JAMES C WEST
STEWART GLICKMAN
JEFF TILLERY
WAQAR SYED
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
Recommendation
neutral
outperform
focus list
outperform
buy
buy
outperform
strong buy
buy
add
buy
outperform
market perform
neutral
overweight
outperform
Positive
overweight
buy
sell
buy
buy
buy
buy
equalweight
overweight
outperform
outperform
Overwt/Attractive
buy
overweight
hold
buy
buy/attractive
Amt Held
77'404'665
60'129'462
54'415'984
53'188'079
38'291'801
34'796'152
28'708'777
27'375'746
21'236'501
20'989'963
20'010'014
16'502'135
12'196'332
12'158'962
12'026'446
11'965'649
11'879'647
11'383'060
11'095'990
10'688'425
% Out
5.82
4.52
4.09
4
2.88
2.61
2.16
2.06
1.6
1.58
1.5
1.24
0.92
0.91
0.9
0.9
0.89
0.86
0.83
0.8
Weighting
Change
3
5
5
5
5
5
5
5
5
4
5
5
3
3
5
5
4
5
5
1
5
5
5
5
3
5
5
5
5
5
5
3
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
U
Latest Chg
1'677'702
1'257'011
688'704
894'326
(355'550)
132'845
591'293
2'730'560
(84'487)
(5'205'530)
204'573
1'880'104
433'671
1'475'319
1'370'425
1'672'854
576'112
449'374
(301'147)
Target Price
79
85
97
82
#N/A N/A
87
103
92
85
90
87
#N/A N/A
#N/A N/A
81
99
91
88
99
92
#N/A N/A
93
93
91
90
#N/A N/A
97
100
85
93
90
107
81
#N/A N/A
95
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
6 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
9 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Date
26.03.2013
25.03.2013
25.03.2013
25.03.2013
22.03.2013
22.03.2013
21.03.2013
21.03.2013
21.03.2013
19.03.2013
18.03.2013
18.03.2013
11.03.2013
07.03.2013
04.03.2013
01.03.2013
26.02.2013
19.02.2013
11.02.2013
11.02.2013
27.01.2013
23.01.2013
22.01.2013
22.01.2013
22.01.2013
22.01.2013
22.01.2013
18.01.2013
18.01.2013
18.01.2013
18.01.2013
20.09.2012
12.09.2012
26.07.2012
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (17.09.2012)
52-Week Low (10.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 28.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
SPG UN EQUITY YTD Change
SPG UN EQUITY YTD % CHANGE
12/2012
12/yy
164.11
141.57
54'770.00
159.75
-2.68%
12.84%
78.93%
310.0
49'529.91
23'113.01
39.8
1'160.5
1'184.52
72'658.73
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
1.8 M
160
1.6 M
140
1.4 M
120
1.2 M
100
1.0 M
80
.8 M
60
.6 M
40
.4 M
20
.2 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
180
31.12.2009
31.12.2010
3'775.2
3'957.6
10.16x
11.81x
2'630.0
2'799.2
14.59x
16.70x
309.4
617.0
40.51x
27.87x
Profitability
LTM-4Q
31.12.2011
4'306.4
13.18x
3'015.6
18.82x
1'024.8
37.05x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
4'880.1
14.78x
3'491.0
20.66x
1'434.5
33.49x
3'490.98
2'220.60
22.41%
35.56%
4.88%
27.31%
6.32%
0.17%
71.4%
29.4%
70.93%
393.70%
-
12/yy
4'306.4
48.20x
3'010.9
18.84x
1'024.8
37.05x
LTM
12/yy
4'880.1
57.64x
3'482.9
20.71x
1'434.5
33.35x
FY+1
2.60
0.95
306.91
4.82
13.61%
1.76%
0.950
25
4.600
344'991
432'770
386'729
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
4'950.6
5'204.8
1'157.9
1'188.4
15.09x
14.27x
67.32x
65.67x
3'860.6
4'101.6
912.0
929.8
18.83x
17.72x
18.81x
18.31x
1'113.5
1'283.9
224.6
238.4
45.51x
39.69x
46.67x
44.81x
S&P Issuer Ratings
10.05.2010
ASTABLE
3.04
-0.91
6.30
6.64
393.7%
76.6%
0.17
-
Sales/Revenue/Turnover
25.00
6'000.0
5'000.0
20.00
4'000.0
15.00
3'000.0
10.00
2'000.0
5.00
0.00
01.01.2010
1'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
VANGUARD GROUP INC
VANGUARD GROUP INC
BLACKROCK
COHEN & STEERS CAPIT
STATE STREET
FMR LLC
DAIWA SECURITIES GRO
MORGAN STANLEY
INVESCO LTD
CBRE CLARION SECURIT
APG ASSET MANAGEMENT
PGGM VERMOGENSBEHEER
DEUTSCHE BANK AG
BANK OF NEW YORK MEL
LASALLE INVESTMENT M
NORTHERN TRUST CORPO
T ROWE PRICE ASSOCIA
JP MORGAN
PRINCIPAL FINANCIAL
AEW CAPITAL MANAGEME
Firm Name
Sandler O'Neill & Partners, LP
Edward Jones
ISI Group
Jefferies
Morgan Stanley
Wells Fargo Securities, LLC
Cowen and Company
Argus Research Corp
Stifel
Raymond James
Imperial Capital LLC
RBC Capital Markets
Hilliard Lyons
JPMorgan
Evercore Partners
S&P Capital IQ
EVA Dimensions
Deutsche Bank
Goldman Sachs
Barclays
Portfolio Name
VANGUARD GROUP INC
Multiple Portfolios
n/a
COHEN & STEERS CAPIT
n/a
n/a
DAIWA SECURITIES GRO
n/a
INVESCO LTD
ING CLARION REAL EST
APG ASSET MANAGEMENT
PGGM VERMOGENSBEHEER
DEUTSCHE BANK AKTIEN
BANK OF NEW YORK MEL
LASALLE INVESTMENT M
NORTHERN TRUST CORPO
T ROWE PRICE ASSOCIA
n/a
n/a
AEW CAPITAL MANAGEME
Analyst
ALEXANDER D GOLDFARB
JOHN L SHEEHAN
STEVE SAKWA
OMOTAYO T OKUSANYA II
PAUL MORGAN
JEFFREY J DONNELLY
JAMES W SULLIVAN
JOHN M EADE
NATHAN ISBEE
RICHARD J MILLIGAN
DAVID HARRIS
RICHARD C MOORE
CAROL L KEMPLE
MICHAEL W MUELLER
BENJAMIN YANG
ROBERT MCMILLAN
AUSTIN BURKETT
JOHN N PERRY
ANDREW ROSIVACH
ROSS L SMOTRICH
Source
13F
MF-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
Recommendation
buy
hold
buy
buy
Equalwt/Attractive
outperform
outperform
buy
buy
outperform
in-line
outperform
neutral
overweight
equalweight
buy
overweight
buy
Buy/Neutral
overweight
Amt Held
34'721'036
28'441'339
22'283'831
21'811'676
16'452'672
13'956'236
10'337'973
9'451'329
8'015'366
7'152'907
7'026'437
6'611'908
6'388'926
5'777'900
5'744'566
5'573'381
4'933'013
3'967'465
3'693'062
3'219'600
% Out
11.2
9.17
7.19
7.04
5.31
4.5
3.33
3.05
2.59
2.31
2.27
2.13
2.06
1.86
1.85
1.8
1.59
1.28
1.19
1.04
Weighting
Change
5
3
5
5
3
5
5
5
5
5
3
5
3
5
3
5
5
5
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
392'198
178'705
762'939
1'244'078
(121'624)
(95'022)
(335'485)
(401'114)
(193'707)
(158'699)
239'146
(448'519)
(85'138)
108'170
965'097
183'214
39'800
Target Price
185
#N/A N/A
177
181
173
#N/A N/A
#N/A N/A
170
170
175
168
180
#N/A N/A
178
168
176
#N/A N/A
177
187
184
File Dt
Inst Type
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Holding Company
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Pension Fund (ERISA)
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
Date
12 month
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
9 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
Date
18.03.2013
13.03.2013
05.03.2013
04.03.2013
01.03.2013
01.03.2013
15.02.2013
07.02.2013
07.02.2013
05.02.2013
05.02.2013
04.02.2013
04.02.2013
04.02.2013
04.02.2013
04.02.2013
15.01.2013
09.01.2013
03.01.2013
26.10.2012
26.03.2013
Southern Co/The
The Southern Company is a public utility holding company. The Company, through
its subsidiaries, generates, wholesales, and retails electricity in the
southeastern United States. The Company also offers wireless telecommunications
services, and provides businesses with two-way radio, telephone, paging, and
Internet access services as well as wholesales fiber optic solutions.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (27.07.2012)
52-Week Low (23.11.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
SO UN EQUITY YTD Change
SO UN EQUITY YTD % CHANGE
12/2012
12/yy
48.58
41.75
380'667.00
46.06
-5.19%
10.32%
56.81%
869.0
40'024.75
22'434.00
1'082.0
0.0
628.00
62'912.75
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
31.12.2009
31.12.2010
15'743.0
17'456.0
3.02x
3.07x
5'258.0
5'633.0
9.05x
9.52x
1'708.0
2'040.0
14.42x
16.20x
Profitability
3.0 M
2.5 M
2.0 M
1.5 M
1.0 M
.5 M
a-12
LTM-4Q
31.12.2011
17'657.0
3.46x
6'279.0
9.72x
2'268.0
18.15x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
16'537.0
3.63x
6'589.0
9.11x
2'415.0
16.15x
6'589.00
4'444.00
26.87%
22.67%
3.95%
13.10%
7.27%
0.27%
66.1%
39.8%
26.9%
14.6%
0.88
0.33
35.53%
122.61%
9.46
2.20
m-12
j-12
j-12
LTM
12/yy
17'657.0
12.90x
6'279.0
9.72x
2'268.0
18.15x
a-12
12/yy
16'537.0
14.86x
6'589.0
9.11x
2'415.0
16.09x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
4.22
0.51
868.70
11.83
8.00%
8.78%
0.514
23
2.826
902'802
893'007
966'453
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
17'989.0
18'704.6
3'861.4
4'465.8
3.60x
3.57x
16.60x
14.45x
6'505.5
6'895.8
1'264.0
1'581.0
9.68x
9.13x
9.90x
9.78x
2'427.1
2'583.8
410.7
588.7
16.69x
15.84x
16.66x
16.53x
S&P Issuer Ratings
21.12.2000
A
STABLE
21.12.2000
A-1
7.67
1.90
3.31
3.40
122.6%
53.7%
0.27
38.71
166.27
87.48
117.50
Sales/Revenue/Turnover
9.00
20'000.0
8.00
18'000.0
7.00
16'000.0
14'000.0
6.00
12'000.0
5.00
4.00
10'000.0
8'000.0
3.00
6'000.0
2.00
4'000.0
1.00
2'000.0
0.00
01.01.2010
3.5 M
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
50
45
40
35
30
25
20
15
10
5
0
m-12
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Southern Co/The
Holdings By:
All
Holder Name
BLACKROCK
STATE STREET
VANGUARD GROUP INC
VANGUARD GROUP INC
FRANKLIN RESOURCES
CAPITAL GROUP COMPAN
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
FEDERATED INVESTORS
GEODE CAPITAL MANAGE
PICTET ASSET MANAGEM
BARCLAYS PLC
UBS
DEUTSCHE BANK AG
NORGES BANK
BANK OF AMERICA CORP
LEGAL & GENERAL
GOLDMAN SACHS GROUP
JP MORGAN
TIAA CREF INVESTMENT
Firm Name
ISI Group
Wolfe Trahan & Co
Edward Jones
Atlantic Equities LLP
Wells Fargo Securities, LLC
SunTrust Robinson Humphrey
Drexel Hamilton LLC
Argus Research Corp
Deutsche Bank
Goldman Sachs
Hilliard Lyons
Jefferies
Macquarie
BGC Partners
Barclays
BMO Capital Markets
RBC Capital Markets
Credit Suisse
KeyBanc Capital Markets
EVA Dimensions
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
Multiple Portfolios
n/a
n/a
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
FEDERATED INVESTORS
GEODE CAPITAL MANAGE
PICTET ASSET MANAGEM
n/a
n/a
DEUTSCHE BANK AKTIEN
NORGES BANK
BANK OF AMERICA
n/a
GOLDMAN SACHS GROUP
n/a
TIAA-CREF INVESTMENT
Analyst
GREG GORDON
STEVEN I FLEISHMAN
ANDREW PUSATERI
NATHAN JUDGE
NEIL A KALTON
ALI AGHA
ANDREW L SMITH
GARY F HOVIS
JONATHAN ARNOLD
MICHAEL J LAPIDES
DAVID B BURKS
PAUL B FREMONT
ANGIE STOROZYNSKI
KIT KONOLIGE
DANIEL F FORD
MICHAEL S WORMS
SHELBY G TUCKER
DANIEL EGGERS
PAUL T RIDZON
AUSTIN BURKETT
Source
ULT-AGG
ULT-AGG
13F
MF-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
Recommendation
neutral
peerperform
sell
underweight
market perform
neutral
hold
hold
hold
Sell/Neutral
neutral
buy
neutral
hold
equalweight
market perform
outperform
underperform
hold
sell
Amt Held
51'559'488
42'344'198
40'307'648
25'993'563
18'523'803
12'843'510
12'470'226
10'523'627
7'008'118
5'767'467
5'645'334
5'212'118
4'749'898
4'586'477
4'469'108
4'316'310
4'202'923
3'903'388
3'780'321
3'656'974
% Out
5.93
4.87
4.64
2.99
2.13
1.48
1.44
1.21
0.81
0.66
0.65
0.6
0.55
0.53
0.51
0.5
0.48
0.45
0.44
0.42
Weighting
Change
3
3
1
1
3
3
3
3
3
1
3
5
3
3
3
3
5
1
3
1
M
N
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(2'005'724)
(867'316)
1'169'117
3'497'300
(1'019'300)
218'630
(93'563)
103'310
(548'110)
1'488'523
486'331
(278'293)
390'317
2'078'152
(2'984'433)
119'231
732'071
331'285
(596'502)
Target Price
45
46
#N/A N/A
41
#N/A N/A
#N/A N/A
44
#N/A N/A
45
43
#N/A N/A
50
44
#N/A N/A
46
45
48
49
#N/A N/A
#N/A N/A
File Dt
22.03.2013
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Government
Investment Advisor
Unclassified
Investment Advisor
Unclassified
Investment Advisor
Date
21.03.2013
13.03.2013
11.03.2013
11.03.2013
06.03.2013
01.03.2013
20.02.2013
01.02.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
31.01.2013
30.01.2013
30.01.2013
30.01.2013
22.01.2013
15.01.2013
26.03.2013
Starbucks Corp
Starbucks Corporation retails, roasts, and provides its own brand of specialty
coffee. The Company operates retail locations worldwide and sells whole bean
coffees through its sales group, direct response business, supermarkets, and on
the World Wide Web. Starbucks also produces and sells bottled coffee drinks and
a line of ice creams.
Price/Volume
09/2012
12/yy
62.00
43.05
379'981.00
56.97
-8.11%
32.33%
71.98%
749.3
42'687.62
549.60
0.0
5.5
2'037.00
40'783.22
8.0 M
7.0 M
6.0 M
40
5.0 M
30
4.0 M
3.0 M
20
2.0 M
10
1.0 M
0
m-12
30.09.2009
30.09.2010
9'774.6
10'707.4
1.50x
1.72x
1'335.8
1'865.1
10.94x
9.85x
390.8
945.6
23.89x
20.11x
Profitability
LTM-4Q
30.09.2011
11'700.4
2.25x
2'074.6
12.67x
1'245.7
23.45x
30.09.2012
13'299.5
2.75x
2'367.3
15.42x
1'383.8
28.33x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
2'367.30
1'786.70
13.43%
15.48%
17.57%
28.85%
26.35%
1.67%
56.3%
17.9%
13.6%
10.4%
1.90
1.14
6.69%
10.76%
30.36
5.36
m-12
j-12
j-12
LTM
01/yy
12'185.7
9.39x
2'126.5
15.47x
1'281.3
28.05x
a-12
12/yy
13'663.3
11.22x
2'445.7
15.34x
1'434.2
28.30x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
1.33
0.87
728.61
10.66
3.42%
6.65%
0.874
32
4.438
1'293'089
1'521'363
1'613'108
FY+2
FQ+1
FQ+2
09/13 Y
09/14 Y
03/13 Q2 06/13 Q3
14'920.7
16'722.3
3'582.4
3'719.2
2.81x
2.49x
11.60x
11.15x
3'034.9
3'589.7
688.9
752.4
13.45x
11.37x
12.81x
12.32x
1'644.3
1'983.0
366.6
408.0
26.33x
21.69x
24.73x
23.66x
S&P Issuer Ratings
24.02.2012
ASTABLE
28.08.2009
A-2
65.94
42.09
-0.78
0.22
10.8%
9.7%
1.67
5.40
11.99
67.96
23.01
53.00
Sales/Revenue/Turnover
35.00
14'000.0
30.00
12'000.0
25.00
10'000.0
20.00
8'000.0
15.00
6'000.0
10.00
4'000.0
5.00
2'000.0
0.00
02.10.2009
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
9.0 M
60
50
Valuation Analysis
30.09.2008
10'383.0
1.15x
1'261.7
9.47x
315.5
21.07x
70
0.0
02.04.2010
02.10.2010
02.04.2011
02.10.2011
02.04.2012
02.10.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Starbucks Corp
Holdings By:
All
Holder Name
BLACKROCK
CAPITAL GROUP COMPAN
FMR LLC
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
SCHULTZ HOWARD D
NORTHERN TRUST CORPO
MORGAN STANLEY
SANDS CAPITAL MANAGE
WINSLOW CAPITAL MANA
BANK OF NEW YORK MEL
INVESCO LTD
JP MORGAN
AMERICAN CENTURY COM
BROWN ADVISORY INC
TIAA CREF INVESTMENT
ALLIANCE BERNSTEIN
NORGES BANK
Firm Name
Stephens Inc
Piper Jaffray
William Blair & Co
Jefferies
BMO Capital Markets
Longbow Research
Lazard Capital Markets
Robert W. Baird & Co
Sanford C. Bernstein & Co
JPMorgan
Oppenheimer & Co
Morgan Stanley
Wells Fargo Securities, LLC
Edward Jones
Telsey Advisory Group
Argus Research Corp
Janney Montgomery Scott LLC
Buckingham Research Group
McAdams Wright Ragen Inc
Cowen and Company
Atlantic Equities LLP
Barclays
RBC Capital Markets
Credit Suisse
Credit Agricole Securities (USA)
EVA Dimensions
Deutsche Bank
Williams Capital Group
S&P Capital IQ
Goldman Sachs
Portfolio Name
n/a
n/a
n/a
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
NORTHERN TRUST CORPO
n/a
SANDS CAPITAL MANAGE
WINSLOW CAPITAL MANA
BANK OF NEW YORK MEL
INVESCO LTD
n/a
AMERICAN CENTURY COM
n/a
TIAA-CREF INVESTMENT
n/a
NORGES BANK
Analyst
WILL SLABAUGH
NICOLE MILLER REGAN
SHARON M ZACKFIA
ANDREW M BARISH
PHILLIP JUHAN
ALTON K STUMP
MATTHEW J DIFRISCO
DAVID E TARANTINO
SARA H SENATORE
JOHN W IVANKOE
BRIAN J BITTNER
JOHN S GLASS
BONNIE HERZOG
JACK P RUSSO
PETER SALEH
JOHN D STASZAK
MARK D KALINOWSKI
MITCHELL J SPEISER
DAN GEIMAN
PAUL L WESTRA
ALISTAIR M SCOBIE
JEFFREY A BERNSTEIN
LARRY A MILLER
KEITH SIEGNER
DIANE GEISSLER
CRAIG STERLING
JASON WEST
MARC RIDDICK
JIM YIN
MICHAEL KELTER
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
MF-AGG
Form 4
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
Recommendation
overweight
overweight
outperform
buy
outperform
buy
buy
outperform
outperform
overweight
outperform
Overwt/In-Line
market perform
hold
no rating system
buy
buy
buy
hold
neutral
overweight
equalweight
sector perform
outperform
buy
underweight
buy
market perform
buy
Buy/Neutral
Amt Held
36'552'911
36'386'396
35'633'395
34'345'408
33'027'380
28'587'259
20'948'274
18'875'169
12'738'762
11'555'223
10'787'280
10'729'471
9'639'589
9'401'174
8'540'739
8'369'222
7'623'782
6'680'224
6'621'549
5'994'504
% Out
4.88
4.86
4.76
4.58
4.41
3.82
2.8
2.52
1.7
1.54
1.44
1.43
1.29
1.25
1.14
1.12
1.02
0.89
0.88
0.8
Weighting
Change
5
5
5
5
5
5
5
5
5
5
5
5
3
3
#N/A N/A
5
5
5
3
3
5
3
3
5
5
1
5
3
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
1'474'627
(2'111'027)
(13'662'548)
427'047
542'442
(1'050'000)
(106'141)
4'664'754
303'498
1'274'414
(104'731)
(2'276'793)
(1'398'536)
2'216'565
7'567'551
(311'680)
1'675'484
528'915
Target Price
66
65
#N/A N/A
60
64
65
74
65
65
62
62
61
#N/A N/A
#N/A N/A
64
64
65
62
58
#N/A N/A
65
56
63
66
69
#N/A N/A
60
55
58
62
File Dt
22.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
06.03.2013
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
12 month
9 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Date
25.03.2013
25.03.2013
22.03.2013
21.03.2013
19.03.2013
19.03.2013
17.03.2013
15.03.2013
11.03.2013
08.03.2013
07.03.2013
04.03.2013
28.02.2013
25.02.2013
10.02.2013
29.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
25.01.2013
24.01.2013
24.01.2013
24.01.2013
15.01.2013
04.01.2013
12.12.2012
14.11.2012
08.10.2012
26.03.2013
Target Corp
Target Corporation operates general merchandise discount stores in the United
States. The Company's merchandising operations include general merchandise and
food discount stores and a fully integrated online business. Target also offers
credit to qualified applicants through its branded proprietary credit cards.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (25.03.2013)
52-Week Low (17.05.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 15.03.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
TGT UN EQUITY YTD Change
TGT UN EQUITY YTD % CHANGE
01/2013
02/yy
68.89
54.68
179'087.00
68.29
-0.87%
24.89%
96.62%
641.4
43'800.33
17'648.00
0.0
0.0
784.00
60'664.33
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
4.0 M
70
3.5 M
60
3.0 M
50
2.5 M
40
2.0 M
30
1.5 M
20
1.0 M
10
.5 M
0
m-12
31.01.2010
31.01.2011
65'357.0
67'390.0
0.81x
0.78x
6'696.0
7'336.0
7.88x
7.13x
2'488.0
2'920.0
15.54x
14.08x
Profitability
LTM-4Q
31.01.2012
69'865.0
0.72x
7'453.0
6.73x
2'929.0
11.48x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.01.2013
73'301.0
0.77x
7'352.0
7.66x
2'999.0
12.85x
7'352.00
5'210.00
7.11%
6.29%
6.33%
18.52%
10.36%
1.55%
31.0%
10.0%
7.1%
4.1%
1.17
0.47
36.64%
106.58%
12.46
6.39
m-12
j-12
j-12
LTM
01/yy
69'865.0
2.93x
7'452.0
6.73x
2'929.0
11.43x
a-12
02/yy
73'301.0
3.11x
7'353.0
7.66x
2'999.0
13.41x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
2.02
0.71
639.40
22.19
18.68%
16.09%
0.709
28
4.250
1'018'722
1'375'105
1'202'873
FY+2
FQ+1
FQ+2
01/14 Y
01/15 Y
04/13 Q1 07/13 Q2
75'502.0
80'251.2
17'079.7
17'468.6
0.76x
0.72x
3.30x
3.27x
7'444.1
8'194.7
1'716.4
1'749.3
8.16x
7.41x
8.24x
8.00x
3'094.5
3'407.7
770.5
679.3
13.54x
12.19x
14.20x
14.41x
S&P Issuer Ratings
20.11.2007
A+
STABLE
04.08.2000
A-1
7.97
4.42
2.29
2.40
106.6%
51.6%
1.55
2.45
29.78
58.04
51.05
36.76
Sales/Revenue/Turnover
9.00
80'000.0
8.00
70'000.0
7.00
60'000.0
6.00
50'000.0
5.00
40'000.0
4.00
30'000.0
3.00
20'000.0
2.00
10'000.0
1.00
0.00
05.02.2010
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
80
0.0
05.08.2010
05.02.2011
05.08.2011
05.02.2012
05.08.2012
05.02.2013
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
26.03.2013
Target Corp
Holdings By:
All
Holder Name
STATE STREET
VANGUARD GROUP INC
BLACKROCK
SUN LIFE FINANCIAL I
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
FMR LLC
JP MORGAN
BARROW HANLEY MEWHIN
BANK OF NEW YORK MEL
GRANTHAM MAYO VAN OT
BROWN BROTHERS HARRI
INVESCO LTD
NORTHERN TRUST CORPO
FRANKLIN RESOURCES
TIAA CREF INVESTMENT
BANK OF AMERICA CORP
NORGES BANK
LSV ASSET MANAGEMENT
MORGAN STANLEY
Firm Name
Stifel
Wells Fargo Securities, LLC
Janney Montgomery Scott LLC
EVA Dimensions
ISI Group
Credit Suisse
Piper Jaffray
Edward Jones
Telsey Advisory Group
Robert W. Baird & Co
Buckingham Research Group
Sanford C. Bernstein & Co
Cowen and Company
Morgan Stanley
MKM Partners
BMO Capital Markets
Deutsche Bank
Argus Research Corp
JPMorgan
Jefferies
Daiwa Securities Co. Ltd.
Crowell, Weedon & Co
William Blair & Co
S&P Capital IQ
Barclays
Tigress Financial Partners
Susquehanna Financial Group
Fincorp SAOG
First Global Stockbroking
Gilford Securities
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
WELLINGTON MANAGEMEN
n/a
n/a
BARROW HANLEY MEWHIN
BANK OF NEW YORK MEL
GRANTHAM MAYO VAN OT
BROWN BROTHERS HARRI
INVESCO LTD
NORTHERN TRUST CORPO
n/a
TIAA-CREF INVESTMENT
BANK OF AMERICA
NORGES BANK
LSV ASSET MANAGEMENT
n/a
Analyst
DAVID A SCHICK
MATTHEW NEMER
DAVID S STRASSER
CRAIG STERLING
GREGORY MELICH
MICHAEL B EXSTEIN
SEAN NAUGHTON
BRIAN YARBROUGH
JOSEPH I FELDMAN
PETER S BENEDICT
JOHN M ZOLIDIS
COLIN MCGRANAHAN
FAYE LANDES
MARK WILTAMUTH
PATRICK G MCKEEVER JR
WAYNE HOOD
PAUL TRUSSELL
CHRISTOPHER GRAJA
CHRISTOPHER HORVERS
DANIEL T BINDER
KAHORI TAMADA
SCOTT M SWANSON
MARK R MILLER
IAN GORDON
ROBERT S DRBUL
IVAN FEINSETH
ROBERT SUMMERS
GAURAV RAMAIYA
RITESH DOSHI
BERNARD SOSNICK
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
Recommendation
hold
outperform
buy
hold
strong buy
neutral
overweight
buy
no rating system
outperform
neutral
outperform
neutral
Overwt/In-Line
buy
outperform
buy
hold
overweight
hold
neutral
buy
market perform
strong buy
overweight
buy
Positive
hold
market perform
hold
Amt Held
60'969'972
33'233'402
30'143'535
24'745'101
22'765'002
20'612'264
19'656'931
15'810'526
12'781'660
11'234'301
10'761'402
10'482'033
10'290'784
9'673'172
6'996'307
6'920'779
5'962'141
5'785'050
5'605'877
5'207'619
% Out
9.51
5.18
4.7
3.86
3.55
3.21
3.06
2.47
1.99
1.75
1.68
1.63
1.6
1.51
1.09
1.08
0.93
0.9
0.87
0.81
Weighting
Change
3
5
5
3
5
3
5
5
#N/A N/A
5
3
5
3
5
5
5
5
3
5
3
3
5
3
5
5
5
4
3
3
3
M
M
M
D
M
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
Latest Chg
340'734
548'908
283'885
22'497
(907'709)
4'641'319
1'541'393
2'002'360
2'396'887
(773'480)
677'329
1'789'038
(29'624)
163'273
94'852
5'034
(728'648)
(476'513)
290'427
Target Price
#N/A N/A
#N/A N/A
72
#N/A N/A
74
62
74
#N/A N/A
72
70
69
76
#N/A N/A
69
78
71
74
#N/A N/A
74
58
69
80
#N/A N/A
75
70
#N/A N/A
73
55
#N/A N/A
#N/A N/A
File Dt
25.03.2013
31.12.2012
22.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
9 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Date
26.03.2013
26.03.2013
25.03.2013
25.03.2013
24.03.2013
21.03.2013
20.03.2013
14.03.2013
14.03.2013
13.03.2013
13.03.2013
12.03.2013
12.03.2013
08.03.2013
06.03.2013
05.03.2013
04.03.2013
04.03.2013
28.02.2013
28.02.2013
28.02.2013
27.02.2013
27.02.2013
27.02.2013
27.02.2013
27.02.2013
25.02.2013
17.11.2011
18.08.2011
31.05.2011
26.03.2013
Price/Volume
40
25
15.0 M
20
12/2012
12/yy
35.72
26.06
863'060.00
34.76
-2.69%
33.38%
87.16%
1'104.8
38'402.41
5'686.00
0.0
0.0
3'965.00
40'123.41
10.0 M
15
10
5.0 M
5
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
20.0 M
30
Valuation Analysis
31.12.2008
12'501.0
1.38x
3'750.0
4.61x
1'920.0
9.82x
25.0 M
35
31.12.2009
31.12.2010
10'427.0
13'966.0
2.82x
2.50x
3'128.0
5'316.0
9.40x
6.56x
1'470.0
3'228.0
20.68x
12.70x
Profitability
LTM-4Q
31.12.2011
13'735.0
2.61x
4'434.0
8.08x
2'236.0
13.73x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
12'825.0
2.80x
3'986.0
9.02x
1'759.0
16.17x
3'986.00
2'687.00
20.95%
15.09%
8.68%
16.05%
11.06%
0.63%
49.7%
31.1%
21.0%
13.7%
2.40
1.51
28.40%
51.87%
9.24
3.64
LTM
12/yy
13'736.0
10.32x
4'434.0
8.08x
2'237.0
13.41x
12/yy
12'825.0
11.26x
3'988.0
9.02x
1'759.0
17.26x
FY+1
2.07
1'099.97
26.36
4.87%
13.07%
46
3.174
2'286'008
2'593'972
2'347'963
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
12'172.7
12'982.7
2'855.4
3'040.6
3.20x
3.00x
13.69x
12.84x
3'586.7
4'202.7
719.1
888.4
11.19x
9.55x
11.10x
10.42x
1'907.8
2'381.2
344.9
456.7
20.29x
16.13x
20.00x
18.40x
S&P Issuer Ratings
23.09.2010
A+
STABLE
01.02.1986
A-1
46.89
41.07
0.43
1.43
51.9%
34.2%
0.63
3.08
39.60
100.45
30.44
109.62
Sales/Revenue/Turnover
14.00
16'000.0
12.00
14'000.0
12'000.0
10.00
10'000.0
8.00
8'000.0
6.00
6'000.0
4.00
4'000.0
2.00
2'000.0
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
PRIMECAP MANAGEMENT
VANGUARD GROUP INC
STATE STREET
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
INSTITUTIONAL CAPITA
HARRIS ASSOCIATES LP
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
DAVIS SELECTED ADVIS
INVESCO LTD
NORTHERN TRUST CORPO
FIRST EAGLE INVESTME
BARROW HANLEY MEWHIN
MACKAY SHIELDS LLC
NEUBERGER BERMAN LLC
CLEARBRIDGE INVESTME
NORGES BANK
Firm Name
Exane BNP Paribas
BMO Capital Markets
Wells Fargo Securities, LLC
Needham & Co
MKM Partners
Longbow Research
JPMorgan
Williams Financial Group
Tigress Financial Partners
Robert W. Baird & Co
B Riley & Company, Inc
RBC Capital Markets
Sanford C. Bernstein & Co
Oppenheimer & Co
Deutsche Bank
ISI Group
Morgan Stanley
Wedbush
FBR Capital Markets
Macquarie
Stifel
Evercore Partners
Cowen and Company
Gabelli & Co
Susquehanna Financial Group
Credit Agricole Securities (USA)
Barclays
Goldman Sachs
Credit Suisse
SunTrust Robinson Humphrey
Jefferies
Pacific Crest Securities
Raymond James
Sterne, Agee & Leach
Canaccord Genuity Corp
Nomura
Edward Jones
Argus Research Corp
EVA Dimensions
Drexel Hamilton LLC
Daiwa Securities Co. Ltd.
Davenport & Co
JMP Securities
Portfolio Name
n/a
n/a
PRIMECAP MANAGEMENT
VANGUARD GROUP INC
n/a
T ROWE PRICE ASSOCIA
Multiple Portfolios
INSTITUTIONAL CAPITA
HARRIS ASSOC LP
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
DAVIS SELECTED ADVIS
INVESCO LTD
NORTHERN TRUST CORPO
FIRST EAGLE INVESTME
BARROW HANLEY MEWHIN
Multiple Portfolios
NEUBERGER BERMAN GRO
CLEARBRIDGE INVESTME
NORGES BANK
Analyst
JEROME RAMEL
AMBRISH SRIVASTAVA
DAVID M WONG
VERNON P ESSI JR
DANIEL A BERENBAUM
JOANNE FEENEY
CHRISTOPHER DANELY
CODY G ACREE
IVAN FEINSETH
TRISTAN GERRA
CRAIG ELLIS
DOUG FREEDMAN
STACY A RASGON
RICHARD SCHAFER
ROSS C SEYMORE
SUMIT DHANDA
JOSEPH MOORE
BETSY VAN HEES
CHRISTOPHER ROLLAND
SHAWN WEBSTER
TORE E SVANBERG
PATRICK WANG
TIMOTHY M ARCURI
HENDI SUSANTO
CHRISTOPHER CASO
SRINI PAJJURI
BLAYNE CURTIS
JAMES V COVELLO
JOHN W PITZER
WILLIAM STEIN
MARK J LIPACIS
MICHAEL MCCONNELL
J STEVEN SMIGIE
VIJAY R RAKESH
ROBERT BURLESON
ROMIT SHAH
WILLIAM C KREHER
JAMES KELLEHER
ANDREW S ZAMFOTIS
RICHARD WHITTINGTON
YOKO YAMADA
F DRAKE JOHNSTONE
ALEX GAUNA
Source
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
MF-AGG
13F
13F
13F
13F
13F
13F
13F
13F
13F
MF-AGG
13F
13F
13F
Recommendation
underperform
outperform
market perform
hold
neutral
underperform
overweight
buy
underperform
neutral
buy
sector perform
market perform
market perform
hold
buy
Equalwt/In-Line
outperform
underperform
neutral
buy
equalweight
neutral
hold
neutral
underperform
equalweight
neutral/attractive
neutral
reduce
buy
sector perform
outperform
underperform
hold
neutral
hold
hold
sell
hold
neutral
neutral
market outperform
Amt Held
193'119'021
61'637'232
57'763'753
50'232'019
44'355'428
33'495'251
31'369'718
26'632'178
26'078'508
21'542'986
21'461'930
15'877'608
14'896'737
14'882'074
12'143'612
11'142'097
9'910'097
9'524'297
8'945'581
7'922'648
% Out
17.48
5.58
5.23
4.55
4.01
3.03
2.84
2.41
2.36
1.95
1.94
1.44
1.35
1.35
1.1
1.01
0.9
0.86
0.81
0.72
Weighting
Change
1
5
3
3
3
1
5
5
1
3
5
3
3
3
3
5
3
5
1
3
5
3
3
3
3
1
3
3
3
2
5
3
5
1
3
3
3
3
1
3
3
3
4
M
M
M
M
M
M
M
M
N
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
D
M
U
M
M
Latest Chg
14'033'650
(538'050)
1'296'171
113'083
2'896'053
122'698
(608'552)
352'635
2'656'532
(1'447'465)
(1'266'900)
(150'090)
2'472'433
36'568
(160'993)
1'013'978
(350'053)
740'405
Target Price
26
40
#N/A N/A
#N/A N/A
29
27
37
41
#N/A N/A
31
39
30
38
#N/A N/A
31
39
#N/A N/A
39
28
37
40
35
#N/A N/A
#N/A N/A
30
34
30
35
35
30
41
#N/A N/A
39
30
35
28
#N/A N/A
#N/A N/A
#N/A N/A
32
34
#N/A N/A
33
File Dt
Inst Type
31.12.2012
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.01.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Government
Date
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
9 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
Date
26.03.2013
25.03.2013
25.03.2013
22.03.2013
22.03.2013
20.03.2013
19.03.2013
18.03.2013
18.03.2013
15.03.2013
15.03.2013
14.03.2013
13.03.2013
12.03.2013
11.03.2013
11.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
08.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
06.03.2013
25.02.2013
14.02.2013
13.02.2013
28.01.2013
28.01.2013
17.10.2012
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (08.03.2013)
52-Week Low (01.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 15.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
TWX UN EQUITY YTD Change
TWX UN EQUITY YTD % CHANGE
12/2012
12/yy
57.84
33.62
336'441.00
56.7
-1.97%
68.65%
94.63%
934.8
53'002.62
19'871.00
0.0
1.0
2'841.00
70'033.62
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
7.0 M
60
6.0 M
50
5.0 M
40
4.0 M
30
3.0 M
20
2.0 M
10
1.0 M
0
m-12
31.12.2009
31.12.2010
25'388.0
26'888.0
1.78x
1.79x
5'748.0
6'413.0
7.86x
7.52x
2'477.0
2'578.0
15.02x
13.08x
Profitability
LTM-4Q
31.12.2011
28'974.0
1.77x
6'877.0
7.45x
2'886.0
12.25x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
28'729.0
2.14x
7'106.0
8.67x
3'019.0
14.54x
7'106.00
6'214.00
21.63%
15.81%
4.44%
10.09%
7.86%
0.42%
44.5%
24.7%
21.6%
10.5%
1.35
1.04
29.09%
66.51%
4.02
8.07
m-12
j-12
j-12
LTM
12/yy
28'974.0
6.98x
6'877.0
7.45x
2'886.0
12.42x
a-12
12/yy
28'729.0
7.95x
7'106.0
8.67x
3'019.0
14.32x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
1.83
1.06
883.93
20.89
56.29%
19.20%
1.064
32
4.406
1'048'037
1'485'716
1'364'423
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
29'745.4
31'085.6
7'128.0
7'074.5
2.30x
2.15x
9.29x
9.33x
7'484.0
8'077.7
1'633.4
1'644.6
9.37x
8.68x
9.34x
9.12x
3'450.8
3'842.9
706.8
709.0
15.42x
13.34x
15.37x
14.71x
S&P Issuer Ratings
27.03.2009
BBB
STABLE
21.05.2008
A-2
5.23
4.75
2.40
2.80
66.5%
39.9%
0.42
7.27
91.13
45.37
180.50
-44.00
Sales/Revenue/Turnover
18.00
50'000.0
16.00
45'000.0
14.00
40'000.0
35'000.0
12.00
30'000.0
10.00
8.00
25'000.0
20'000.0
6.00
15'000.0
4.00
10'000.0
2.00
5'000.0
0.00
01.01.2010
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
70
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
JP MORGAN
DODGE & COX
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
STATE STREET
FMR LLC
VANGUARD GROUP INC
INSTITUTIONAL CAPITA
T ROWE PRICE ASSOCIA
VIKING GLOBAL INVEST
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
INVESCO LTD
COATUE MANAGEMENT LL
FRANKLIN RESOURCES
NORGES BANK
DIMENSIONAL FUND ADV
LONGVIEW PARTNERS (G
Firm Name
Nomura
Lazard Capital Markets
Argus Research Corp
Sanford C. Bernstein & Co
Needham & Co
B Riley & Company, Inc
Susquehanna Financial Group
Gabelli & Co
Morgan Stanley
Credit Suisse
Edward Jones
Janney Montgomery Scott LLC
Wedbush
Barrington Research
Stifel
Wunderlich Securities
Evercore Partners
Cowen and Company
S&P Capital IQ
Barclays
Telsey Advisory Group
RBC Capital Markets
Wells Fargo Securities, LLC
Davenport & Co
Atlantic Equities LLP
Deutsche Bank
Macquarie
Wedge Partners
JPMorgan
Goldman Sachs
EVA Dimensions
D.A. Davidson & Co
Portfolio Name
n/a
n/a
n/a
DODGE & COX
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
n/a
n/a
Multiple Portfolios
INSTITUTIONAL CAPITA
T ROWE PRICE ASSOCIA
VIKING GLOBAL INVEST
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
INVESCO LTD
COATUE MANAGEMENT LL
n/a
NORGES BANK
DIMENSIONAL FUND ADV
LONGVIEW PARTNERS (G
Analyst
MICHAEL NATHANSON
BARTON CROCKETT
JOSEPH F BONNER
TODD JUENGER
LAURA A MARTIN
DAVID W MILLER
VASILY KARASYOV
BRETT HARRISS
BENJAMIN SWINBURNE
MICHAEL SENNO
ROBIN DIEDRICH
TONY WIBLE
JAMES G DIX
JAMES C GOSS
DREW E CRUM
MATTHEW HARRIGAN
ALAN GOULD
DOUGLAS CREUTZ
TUNA AMOBI
ANTHONY J DICLEMENTE
JAISON BLAIR
DAVID BANK
MARCI RYVICKER
MICHAEL C MORRIS
HAMILTON FABER
DOUGLAS D MITCHELSON
TIMOTHY W NOLLEN
MARTIN PYYKKONEN
ALEXIA S QUADRANI
DREW BORST
CRAIG STERLING
DONNA M JAEGERS
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
Recommendation
neutral
buy
buy
market perform
hold
buy
Positive
hold
Equalwt/Attractive
outperform
hold
neutral
outperform
outperform
buy
buy
overweight
outperform
buy
equalweight
no rating system
outperform
outperform
buy
overweight
buy
outperform
no rating system
overweight
buy/attractive
buy
buy
Amt Held
79'192'925
49'944'190
47'541'537
42'579'068
41'324'514
37'580'219
36'504'723
29'830'536
25'952'668
22'075'622
20'189'390
19'564'518
12'239'719
12'127'665
11'347'396
10'150'523
10'104'209
9'297'800
9'273'563
9'087'821
% Out
8.47
5.34
5.09
4.55
4.42
4.02
3.91
3.19
2.78
2.36
2.16
2.09
1.31
1.3
1.21
1.09
1.08
0.99
0.99
0.97
Weighting
Change
3
5
5
3
3
5
4
3
3
5
3
3
5
5
5
5
5
5
5
3
#N/A N/A
5
5
5
5
5
5
#N/A N/A
5
5
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(4'233'233)
(1'899'402)
(7'130'010)
849'555
4'575'635
822'504
482'845
(2'779'676)
(3'847'909)
6'105'545
289'900
101'288
(2'854'231)
6'785'149
(325'520)
231'052
1'253
365'043
Target Price
57
64
68
60
#N/A N/A
65
71
#N/A N/A
58
61
#N/A N/A
59
60
61
63
65
57
#N/A N/A
57
54
66
54
#N/A N/A
65
63
62
63
#N/A N/A
59
59
#N/A N/A
#N/A N/A
File Dt
Inst Type
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Government
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
Date
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
18 month
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
9 month
12 month
Not Provided
Not Provided
Date
25.03.2013
24.03.2013
22.03.2013
22.03.2013
15.03.2013
15.03.2013
14.03.2013
08.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
07.03.2013
06.03.2013
06.03.2013
21.02.2013
14.02.2013
07.02.2013
07.02.2013
07.02.2013
29.01.2013
21.01.2013
15.01.2013
26.10.2011
26.03.2013
Price/Volume
160
100
1.5 M
80
12/2012
12/yy
141.78
104.10
160'271.00
139.3
-1.75%
33.81%
87.82%
469.3
65'373.32
8'997.00
0.0
0.0
1'063.00
73'307.31
1.0 M
60
40
.5 M
20
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
2.0 M
120
Valuation Analysis
31.12.2008
17'970.0
1.77x
5'462.0
5.81x
2'338.0
10.53x
2.5 M
140
31.12.2009
31.12.2010
14'143.0
16'965.0
2.85x
3.17x
4'806.0
6'468.0
8.38x
8.30x
1'890.0
2'780.0
17.85x
16.49x
Profitability
LTM-4Q
31.12.2011
19'557.0
2.99x
7'341.0
7.97x
3'292.0
15.86x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
20'926.0
3.20x
8'505.0
7.87x
3'943.0
15.26x
8'505.00
6'745.00
32.23%
30.19%
8.55%
20.51%
15.18%
0.45%
40.6%
32.2%
18.8%
1.16
0.77
19.08%
45.26%
15.32
-
LTM
12/yy
19'557.0
11.29x
7'341.0
7.97x
3'292.0
15.84x
12/yy
20'926.0
12.19x
8'505.0
7.87x
3'943.0
15.24x
FY+1
1.79
1.10
466.84
3.61
27.77%
11.37%
1.101
31
4.290
509'520
501'400
463'714
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
22'077.2
23'621.5
5'225.6
5'458.7
3.31x
3.08x
14.07x
13.44x
9'275.4
10'176.8
2'046.0
2'312.7
7.90x
7.20x
7.93x
7.74x
4'363.6
4'876.1
930.5
1'085.7
14.82x
12.97x
14.83x
14.29x
S&P Issuer Ratings
23.04.2012
ASTABLE
29.05.2002
A-2
15.90
8.91
0.93
1.06
45.3%
31.2%
0.45
0.51
23.89
-
Sales/Revenue/Turnover
14.00
25'000.0
12.00
20'000.0
10.00
15'000.0
8.00
6.00
10'000.0
4.00
5'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
FMR LLC
VANGUARD GROUP INC
STATE STREET
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
WINSLOW CAPITAL MANA
JP MORGAN
BANK OF NEW YORK MEL
JENNISON ASSOCIATES
NORTHERN TRUST CORPO
MACKAY SHIELDS LLC
UBS
AMERIPRISE FINANCIAL
TIAA CREF INVESTMENT
NORGES BANK
DIMENSIONAL FUND ADV
AMERICAN CENTURY COM
JANUS CAPITAL MANAGE
Firm Name
Raymond James
Sanford C. Bernstein & Co
TD Securities
Avondale Partners LLC
Morgan Stanley
Edward Jones
Cowen Securities LLC
Wolfe Trahan & Co
Atlantic Equities LLP
RBC Capital Markets
Jefferies
Stifel
BMO Capital Markets
Stephens Inc
Wells Fargo Securities, LLC
Argus Research Corp
Sterne, Agee & Leach
FBR Capital Markets
Robert W. Baird & Co
JPMorgan
BB&T Capital Markets
Credit Suisse
Susquehanna Financial Group
Barclays
EVA Dimensions
Deutsche Bank
Goldman Sachs
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
n/a
T ROWE PRICE ASSOCIA
Multiple Portfolios
WINSLOW CAPITAL MANA
n/a
BANK OF NEW YORK MEL
JENNISON ASSOCIATES
NORTHERN TRUST CORPO
Multiple Portfolios
n/a
AMERIPRISE FINANCIAL
TIAA-CREF INVESTMENT
NORGES BANK
DIMENSIONAL FUND ADV
AMERICAN CENTURY COM
n/a
Analyst
PATRICK TYLER BROWN
DAVID VERNON
CHERILYN RADBOURNE
DONALD BROUGHTON
WILLIAM J GREENE
LOGAN PURK
JASON H SEIDL
SCOTT H GROUP
RORRIE MARS
WALTER SPRACKLIN
H PETER NESVOLD
JOHN G LARKIN
FADI CHAMOUN
JUSTIN LONG
ANTHONY P GALLO
NATHANIEL GABRIEL
JEFFREY A KAUFFMAN
JOHN R MIMS
BENJAMIN J HARTFORD
THOMAS R WADEWITZ
MARK A LEVIN
CHRISTOPHER J CERASO
MATT TROY
BRANDON OGLENSKI
CRAIG STERLING
JUSTIN B YAGERMAN
TOM KIM
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
13F
ULT-AGG
13F
13F
13F
MF-AGG
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
Recommendation
outperform
market perform
buy
market outperform
Overwt/Attractive
hold
buy
outperform
neutral
sector perform
buy
hold
outperform
equalweight
outperform
buy
buy
outperform
outperform
overweight
hold
outperform
Positive
overweight
hold
buy
neutral/neutral
Amt Held
75'562'280
26'326'105
21'935'916
21'035'325
18'541'738
17'286'343
13'142'151
9'931'489
8'230'016
7'272'809
6'989'063
6'379'493
6'361'218
5'081'172
5'024'194
4'334'327
4'213'790
4'023'611
3'655'253
3'626'935
% Out
16.1
5.61
4.67
4.48
3.95
3.68
2.8
2.12
1.75
1.55
1.49
1.36
1.36
1.08
1.07
0.92
0.9
0.86
0.78
0.77
Weighting
Change
5
3
5
4
5
3
5
5
3
3
5
3
5
3
5
5
5
5
5
5
3
5
4
5
3
5
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
(871'639)
(38'202)
273'569
320'155
633'623
213'636
(149'623)
(1'566'764)
(424'131)
(127'889)
(12'390)
(51'939)
(578'856)
707'929
(75'902)
244'075
857
(170'243)
(156'806)
Target Price
145
137
156
153
155
#N/A N/A
149
154
154
134
153
#N/A N/A
150
140
#N/A N/A
148
150
150
147
153
#N/A N/A
159
161
158
#N/A N/A
150
146
File Dt
31.12.2012
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
9 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Date
25.03.2013
22.03.2013
22.03.2013
21.03.2013
20.03.2013
19.03.2013
18.03.2013
14.03.2013
12.03.2013
07.03.2013
01.03.2013
12.02.2013
04.02.2013
04.02.2013
01.02.2013
30.01.2013
30.01.2013
29.01.2013
28.01.2013
25.01.2013
25.01.2013
24.01.2013
24.01.2013
24.01.2013
15.01.2013
14.01.2013
10.01.2013
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (19.03.2013)
52-Week Low (15.11.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 08.03.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
UPS UN EQUITY YTD Change
UPS UN EQUITY YTD % CHANGE
12/2012
12/yy
85.84
69.56
106'734.00
84.93
-1.06%
22.10%
92.44%
725.6
80'344.17
12'870.00
0.0
80.0
7'924.00
85'370.17
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
18.0 M
80
16.0 M
70
14.0 M
60
12.0 M
50
10.0 M
40
8.0 M
30
6.0 M
20
4.0 M
10
2.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
90
31.12.2009
31.12.2010
45'297.0
49'545.0
1.42x
1.59x
5'548.0
7'433.0
11.63x
10.60x
2'152.0
3'338.0
24.94x
21.28x
Profitability
LTM-4Q
31.12.2011
53'105.0
1.46x
7'862.0
9.85x
3'804.0
16.83x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
54'127.0
1.39x
3'201.0
23.52x
807.0
16.28x
3'201.00
1'343.00
2.48%
1.80%
2.19%
13.81%
6.32%
1.47%
12.0%
5.9%
2.5%
1.5%
1.86
1.67
33.12%
276.60%
8.76
-
LTM
12/yy
53'105.0
5.72x
7'862.0
9.85x
3'804.0
16.75x
12/yy
54'127.0
5.80x
3'201.0
23.52x
807.0
16.28x
FY+1
2.68
0.89
725.12
13.61
8.67%
16.06%
0.888
31
4.097
887'024
855'564
849'391
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
56'774.3
60'187.5
13'459.7
13'939.9
1.52x
1.41x
6.51x
6.31x
9'535.6
10'409.5
2'023.7
2'320.8
8.94x
8.19x
9.09x
8.89x
4'721.1
5'233.1
962.8
1'170.1
16.93x
14.86x
16.95x
16.32x
S&P Issuer Ratings
21.09.2012
A+
NEG
21.09.2012
A-1
7.79
2.55
1.55
4.02
276.6%
73.1%
1.47
3.05
41.78
19.22
-
Sales/Revenue/Turnover
25.00
60'000.0
50'000.0
20.00
40'000.0
15.00
30'000.0
10.00
20'000.0
5.00
0.00
01.01.2010
10'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BLACKROCK
VANGUARD GROUP INC
STATE STREET
CAPITAL GROUP COMPAN
SUN LIFE FINANCIAL I
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
FMR LLC
T ROWE PRICE ASSOCIA
BANK OF AMERICA CORP
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
JANUS CAPITAL MANAGE
PRIMECAP MANAGEMENT
FRANKLIN RESOURCES
OPPENHEIMERFUNDS INC
NORGES BANK
CLEARBRIDGE INVESTME
AMERICAN CENTURY COM
TIAA CREF INVESTMENT
Firm Name
Sanford C. Bernstein & Co
Morgan Stanley
Cowen Securities LLC
Wells Fargo Securities, LLC
RBC Capital Markets
Raymond James
Oppenheimer & Co
BB&T Capital Markets
Thompson, Davis & Company
Jefferies
Macquarie
JPMorgan
Avondale Partners LLC
Edward Jones
Robert W. Baird & Co
Wolfe Trahan & Co
EVA Dimensions
Argus Research Corp
Stifel
Atlantic Equities LLP
Sterne, Agee & Leach
Credit Suisse
William Blair & Co
S&P Capital IQ
Barclays
Nomura
Deutsche Bank
Goldman Sachs
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
n/a
Multiple Portfolios
WELLINGTON MANAGEMEN
n/a
T ROWE PRICE ASSOCIA
BANK OF AMERICA
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
PRIMECAP MANAGEMENT
n/a
OPPENHEIMER FUNDS IN
NORGES BANK
CLEARBRIDGE INVESTME
AMERICAN CENTURY COM
TIAA-CREF INVESTMENT
Analyst
DAVID VERNON
WILLIAM J GREENE
HELANE R BECKER
ANTHONY P GALLO
JOHN L BARNES III
ARTHUR W HATFIELD
SCOTT A SCHNEEBERGER
KEVIN W STERLING
DAVID P CAMPBELL
H PETER NESVOLD
KELLY A DOUGHERTY
THOMAS R WADEWITZ
DONALD BROUGHTON
LOGAN PURK
BENJAMIN J HARTFORD
SCOTT H GROUP
CRAIG STERLING
NATHANIEL GABRIEL
DAVID G ROSS
RORRIE MARS
JEFFREY A KAUFFMAN
CHRISTOPHER J CERASO
NATHAN J BROCHMANN
JAMES CORRIDORE
BRANDON OGLENSKI
MARK MCVICAR
JUSTIN B YAGERMAN
TOM KIM
Source
ULT-AGG
13F
ULT-AGG
ULT-AGG
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
Recommendation
outperform
Equalwt/Attractive
hold
market perform
sector perform
strong buy
outperform
buy
buy
hold
outperform
overweight
market perform
hold
neutral
peerperform
overweight
buy
hold
overweight
buy
outperform
outperform
buy
equalweight
neutral
buy
neutral/attractive
Amt Held
40'002'054
33'273'208
28'197'574
27'475'687
24'213'893
20'758'842
19'528'717
17'074'447
16'928'220
11'700'444
9'985'416
9'729'852
8'465'866
7'300'438
6'705'890
6'133'361
5'826'023
5'436'811
4'888'239
4'791'966
% Out
5.51
4.59
3.89
3.79
3.34
2.86
2.69
2.35
2.33
1.61
1.38
1.34
1.17
1.01
0.92
0.85
0.8
0.75
0.67
0.66
Weighting
Change
5
3
3
3
3
5
5
5
5
3
5
5
3
3
3
3
5
5
3
5
5
5
5
5
3
3
5
3
M
M
M
M
M
M
N
M
M
M
N
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
U
M
Latest Chg
2'277'877
795'976
(76'828)
(1'423'032)
2'240'682
891'634
2'193'949
(4'689'765)
(3'370'874)
209'812
(405'500)
(803'153)
(205'430)
144'697
143'560
503'436
75'826
178'812
(624'757)
Target Price
92
#N/A N/A
#N/A N/A
#N/A N/A
80
91
95
90
105
82
93
84
80
#N/A N/A
93
#N/A N/A
#N/A N/A
92
#N/A N/A
94
105
91
#N/A N/A
94
87
90
92
83
File Dt
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
12 month
9 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Date
22.03.2013
20.03.2013
18.03.2013
12.03.2013
07.03.2013
05.03.2013
05.03.2013
05.03.2013
05.03.2013
01.03.2013
01.03.2013
26.02.2013
26.02.2013
19.02.2013
15.02.2013
14.02.2013
08.02.2013
06.02.2013
06.02.2013
05.02.2013
03.02.2013
01.02.2013
01.02.2013
31.01.2013
31.01.2013
21.01.2013
14.01.2013
10.01.2013
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (20.03.2013)
52-Week Low (05.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
UTX UN EQUITY YTD Change
UTX UN EQUITY YTD % CHANGE
12/2012
12/yy
94.00
70.72
207'414.00
93.18
-0.87%
31.76%
94.85%
916.6
85'412.51
23'221.00
0.0
1'393.0
4'819.00
105'207.51
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
31.12.2009
31.12.2010
52'920.0
54'326.0
1.35x
1.47x
7'723.0
8'542.0
9.28x
9.36x
3'829.0
4'373.0
15.16x
16.07x
Profitability
7.0 M
6.0 M
5.0 M
4.0 M
3.0 M
2.0 M
1.0 M
a-12 m-12
LTM-4Q
31.12.2011
55'754.0
1.29x
9'109.0
7.89x
4'979.0
13.66x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
57'708.0
1.65x
9'208.0
10.33x
5'130.0
15.30x
9'208.00
7'684.00
13.32%
11.98%
6.80%
21.47%
14.64%
0.77%
27.0%
15.9%
13.3%
8.9%
1.24
0.67
25.97%
89.61%
5.59
4.86
j-12
j-12
LTM
12/yy
55'761.0
5.65x
9'097.0
7.90x
4'979.0
13.56x
a-12
12/yy
57'716.0
6.17x
9'197.0
10.35x
5'130.0
15.36x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
2.18
1.12
913.54
11.14
14.57%
14.30%
1.120
26
4.538
632'589
778'472
846'786
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
65'093.1
68'801.8
14'961.8
16'475.9
1.53x
1.42x
6.97x
6.27x
10'858.3
11'957.9
2'388.9
2'789.1
9.69x
8.80x
9.73x
9.44x
5'546.9
6'314.5
1'183.3
1'424.9
15.26x
13.30x
15.24x
14.65x
S&P Issuer Ratings
02.10.2003
A
STABLE
28.01.1992
A-1
10.10
8.57
2.00
2.52
89.6%
46.0%
0.77
7.84
65.46
75.23
50.02
90.69
Sales/Revenue/Turnover
14.00
70'000.0
12.00
60'000.0
10.00
50'000.0
8.00
40'000.0
6.00
30'000.0
4.00
20'000.0
2.00
10'000.0
0.00
01.01.2010
8.0 M
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
100
90
80
70
60
50
40
30
20
10
0
m-12
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
STATE STREET
BLACKROCK
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
VANGUARD GROUP INC
SUN LIFE FINANCIAL I
FMR LLC
JP MORGAN
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
UBS
BANK OF AMERICA CORP
EVERCORE TRUST COMPA
ABERDEEN
JENNISON ASSOCIATES
FRANKLIN RESOURCES
NORGES BANK
WINSLOW CAPITAL MANA
Firm Name
Atlantic Equities LLP
Jefferies
Sanford C. Bernstein & Co
RBC Capital Markets
Drexel Hamilton LLC
FBR Capital Markets
William Blair & Co
Sterne, Agee & Leach
Oppenheimer & Co
Nomura
Cowen and Company
Barclays
Credit Suisse
Wells Fargo Securities, LLC
Langenberg & Co
Edward Jones
Argus Research Corp
JPMorgan
Goldman Sachs
S&P Capital IQ
Deutsche Bank
EVA Dimensions
Gabelli & Co
Portfolio Name
n/a
n/a
n/a
VANGUARD GROUP INC
Multiple Portfolios
n/a
n/a
n/a
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
n/a
BANK OF AMERICA
EVERCORE TRUST COMPA
n/a
JENNISON ASSOCIATES
n/a
NORGES BANK
WINSLOW CAPITAL MANA
Analyst
RICHARD RADBOURNE
HOWARD A RUBEL
DOUGLAS S HARNED
ROBERT STALLARD
RICHARD WHITTINGTON
AJAY K KEJRIWAL
NICHOLAS P HEYMANN
PETER J ARMENT
YAIR REINER
SHANNON O'CALLAGHAN
CAI VON RUMOHR
CARTER COPELAND
JULIAN MITCHELL
SAMUEL J PEARLSTEIN
BRIAN KEITH LANGENBERG
CHRISTIAN MAYES
NATHANIEL GABRIEL
JOSEPH B NADOL III
NOAH POPONAK
RICHARD TORTORIELLO
MYLES WALTON
CRAIG STERLING
ZAHID SIDDIQUE
Source
ULT-AGG
ULT-AGG
ULT-AGG
13F
MF-AGG
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
Recommendation
overweight
buy
market perform
outperform
buy
market perform
outperform
buy
market perform
buy
outperform
overweight
outperform
outperform
buy
buy
buy
overweight
neutral/attractive
buy
buy
sell
hold
Amt Held
110'977'942
57'724'464
46'126'231
45'287'235
31'281'254
30'836'328
27'174'081
23'203'143
22'724'157
15'374'285
15'190'327
14'534'360
12'081'217
12'031'824
11'056'795
9'019'316
8'447'561
8'264'483
7'312'921
6'806'728
% Out
12.11
6.3
5.03
4.94
3.41
3.36
2.96
2.53
2.48
1.68
1.66
1.59
1.32
1.31
1.21
0.98
0.92
0.9
0.8
0.74
Weighting
Change
5
5
3
5
5
3
5
5
3
5
5
5
5
5
5
5
5
5
3
5
5
1
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
1'813'945
(1'758'473)
2'331'679
2'177'314
1'520'614
1'480'931
5'706'073
5'877'913
(120'729)
(361'279)
(606'940)
(1'863'319)
(155)
(14'360)
(18'495)
229'622
622'203
(102'157)
Target Price
108
105
90
101
100
95
107
99
#N/A N/A
103
#N/A N/A
105
98
#N/A N/A
100
#N/A N/A
100
98
92
98
100
#N/A N/A
#N/A N/A
File Dt
25.03.2013
22.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
9 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Government
Investment Advisor
Date
25.03.2013
22.03.2013
22.03.2013
21.03.2013
19.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
14.03.2013
23.02.2013
31.01.2013
24.01.2013
23.01.2013
23.01.2013
15.01.2013
15.01.2013
20.10.2011
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (19.06.2012)
52-Week Low (02.08.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
UNH UN EQUITY YTD Change
UNH UN EQUITY YTD % CHANGE
12/2012
12/yy
60.75
50.33
317'723.00
55.37
-8.86%
10.01%
43.47%
1'024.9
56'750.11
16'754.00
0.0
2'121.0
11'437.00
64'188.11
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
14.0 M
60
12.0 M
50
10.0 M
40
8.0 M
30
6.0 M
20
4.0 M
10
2.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
70
31.12.2009
31.12.2010
87'138.0
94'155.0
0.40x
0.42x
7'350.0
8'928.0
4.77x
4.39x
3'822.0
4'634.0
9.41x
8.81x
Profitability
LTM-4Q
31.12.2011
101'862.0
0.51x
9'588.0
5.45x
5'142.0
10.71x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
110'618.0
0.57x
10'563.0
5.94x
5'526.0
10.27x
10'563.00
9'254.00
8.37%
7.79%
7.43%
18.58%
13.18%
1.49%
25.2%
9.5%
8.4%
5.0%
0.78
0.52
20.71%
53.74%
44.22
-
LTM
FY+1
1.44
0.96
1'008.31
13.49
2.06%
2.48%
0.957
24
4.708
1'286'275
1'408'580
1'403'173
FY+2
FQ+1
FQ+2
12/yy
12/yy
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
101'862.0 110'618.0 123'370.5 135'924.8
30'409.0
30'791.7
1.95x
2.15x
0.54x
0.48x
2.17x
2.12x
9'588.0
10'563.0
10'654.3
11'704.7
2'285.0
2'516.3
5.45x
5.94x
6.02x
5.48x
6.04x
5.82x
5'142.0
5'526.0
5'629.9
6'004.1
1'195.3
1'314.6
10.74x
10.27x
10.04x
9.25x
10.05x
9.81x
S&P Issuer Ratings
Long-Term Rating Date
03.11.1998
Long-Term Rating
A
Long-Term Outlook
STABLE
Short-Term Rating Date
Short-Term Rating
Credit Ratios
EBITDA/Interest Exp.
16.71
(EBITDA-Capex)/Interest Exp.
15.02
Net Debt/EBITDA
0.50
Total Debt/EBITDA
1.59
Reference
Total Debt/Equity
53.7%
Total Debt/Capital
33.5%
Asset Turnover
1.49
Net Fixed Asset Turnover
34.28
Accounts receivable turnover-days
8.28
Inventory Days
Accounts Payable Turnover Day
76.61
Cash Conversion Cycle
Sales/Revenue/Turnover
14.00
120'000.0
12.00
100'000.0
10.00
80'000.0
8.00
60'000.0
6.00
40'000.0
4.00
20'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
STATE STREET
FMR LLC
WELLINGTON MANAGEMEN
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
VANGUARD GROUP INC
JP MORGAN
CLEARBRIDGE INVESTME
CREDIT SUISSE AG
INVESCO LTD
NORTHERN TRUST CORPO
UBS
HARRIS ASSOCIATES LP
JENNISON ASSOCIATES
BANK OF NEW YORK MEL
ALLIANCE BERNSTEIN
EAGLE CAPITAL MANAGE
UNITED HEALTHCARE IN
Firm Name
CRT Capital Group
Wells Fargo Securities, LLC
Susquehanna Financial Group
Lazard Capital Markets
Monness, Crespi, Hardt & Co
BMO Capital Markets
Oppenheimer & Co
Cowen and Company
Barclays
Leerink Swann & Co
EVA Dimensions
Credit Suisse
Raymond James
Stifel
Jefferies
Goldman Sachs
Cantor Fitzgerald
Argus Research Corp
JPMorgan
Wedbush
S&P Capital IQ
Deutsche Bank
Portfolio Name
n/a
n/a
n/a
n/a
WELLINGTON MANAGEMEN
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
Multiple Portfolios
n/a
CLEARBRIDGE INVESTME
CREDIT SUISSE AG
INVESCO LTD
NORTHERN TRUST CORPO
n/a
HARRIS ASSOC LP
JENNISON ASSOCIATES
BANK OF NEW YORK MEL
n/a
EAGLE CAPITAL MANAGE
UNITED HEALTHCARE IN
Analyst
SHERYL R SKOLNICK
PETER H COSTA
CHRIS RIGG
STEVEN P HALPER
BRIAN M WRIGHT
JENNIFER LYNCH
MICHAEL WIEDERHORN
CHRISTINE ARNOLD
JOSHUA R RASKIN
JASON GURDA
AUSTIN BURKETT
RALPH GIACOBBE
MICHAEL J BAKER
THOMAS A CARROLL
DAVID H WINDLEY
MATTHEW BORSCH
JOSEPH D FRANCE
DAVID H TOUNG
JUSTIN LAKE
SARAH JAMES
PHILLIP SELIGMAN
SCOTT J FIDEL
Source
ULT-AGG
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
MF-AGG
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
Sch-D
Recommendation
buy
outperform
Positive
buy
buy
outperform
outperform
outperform
overweight
market perform
overweight
outperform
outperform
buy
buy
Buy/Neutral
buy
hold
restricted
outperform
buy
hold
Amt Held
74'728'709
64'576'401
48'803'777
47'673'336
47'106'548
46'277'946
32'483'867
28'872'221
25'521'623
21'928'128
17'122'524
16'446'466
16'023'022
15'727'697
13'485'685
12'342'649
12'174'225
10'391'337
9'804'453
9'668'800
% Out
7.29
6.3
4.76
4.65
4.6
4.52
3.17
2.82
2.49
2.14
1.67
1.6
1.56
1.53
1.32
1.2
1.19
1.01
0.96
0.94
Weighting
Change
5
5
4
5
5
5
5
5
5
3
5
5
5
5
5
5
5
3
#N/A N/A
5
5
3
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
M
M
M
M
M
M
D
Latest Chg
18'878'055
763'970
(14'012'914)
(2'024'107)
686'932
(798'745)
(2'009'947)
(454'919)
14'815'816
(1'699'720)
401'241
(1'392'797)
810'210
(2'222'828)
(485'851)
(3'975'067)
752'534
-
Target Price
72
#N/A N/A
67
69
68
70
66
#N/A N/A
70
#N/A N/A
#N/A N/A
60
63
70
67
67
63
#N/A N/A
#N/A N/A
70
65
61
File Dt
31.12.2012
22.03.2013
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
30.09.2012
Date
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
18 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Date
26.03.2013
26.03.2013
25.03.2013
22.03.2013
20.03.2013
19.03.2013
15.03.2013
13.03.2013
12.03.2013
11.03.2013
02.03.2013
01.03.2013
01.03.2013
21.02.2013
20.02.2013
19.02.2013
23.01.2013
18.01.2013
18.01.2013
18.01.2013
17.01.2013
03.01.2013
26.03.2013
US Bancorp
U.S. Bancorp is a diversified financial services company that provides lending
and depository services, cash management, foreign exchange and trust and
investment management services. The Company also provides credit card
services, mortgage banking, insurance, brokerage, and leasing. U.S Bancorp
operates in the Midwest and Western United States.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (05.10.2012)
52-Week Low (05.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 31.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
USB UN EQUITY YTD Change
USB UN EQUITY YTD % CHANGE
12/2012
12/yy
35.46
28.63
498'996.00
33.67
-5.05%
17.60%
73.79%
1'863.4
62'740.16
51'818.00
4'769.0
1'269.0
8'252.00
-
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
8.0 M
35
7.0 M
30
6.0 M
25
5.0 M
20
4.0 M
15
3.0 M
10
2.0 M
1.0 M
0
m-12
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
40
31.12.2009
31.12.2010
19'490.0
20'609.0
2'205.0
3'317.0
17.18x
15.50x
Profitability
LTM-4Q
31.12.2011
21'434.0
4'872.0
11.27x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
22'202.0
5'647.0
11.13x
38.51%
38.51%
1.63%
16.43%
5.79%
0.06%
28.1%
14.64%
151.39%
-
LTM
12/yy
21'423.0
0.00x
0.0
0.00x
4'872.0
11.37x
12/yy
22'202.0
0.00x
0.0
0.00x
5'647.0
11.13x
FY+1
2.32
1.09
1'860.57
17.65
8.04%
6.03%
1.092
40
3.725
2'248'725
2'393'141
2'425'582
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
20'495.9
21'213.8
5'045.7
5'143.7
5'677.0
5'717.8
1'376.1
1'442.5
10.98x
10.50x
10.96x
11.33x
S&P Issuer Ratings
20.08.2012
A+
STABLE
17.06.2009
A-1
151.4%
56.3%
0.06
8.34
-
Sales/Revenue/Turnover
16.00
25'000.0
14.00
20'000.0
12.00
10.00
15'000.0
8.00
10'000.0
6.00
4.00
5'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
US Bancorp
Holdings By:
All
Holder Name
BLACKROCK
FMR LLC
VANGUARD GROUP INC
STATE STREET
T ROWE PRICE ASSOCIA
BERKSHIRE HATHAWAY I
VANGUARD GROUP INC
CAPITAL GROUP COMPAN
NORTHERN TRUST CORPO
BROWN BROTHERS HARRI
BANK OF NEW YORK MEL
US BANCORP
NORGES BANK
GENERAL RE NEW ENGLA
TIAA CREF INVESTMENT
JANUS CAPITAL MANAGE
AMERIPRISE FINANCIAL
WELLINGTON MANAGEMEN
JP MORGAN
INVESCO LTD
Firm Name
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
T ROWE PRICE ASSOCIA
n/a
Multiple Portfolios
n/a
NORTHERN TRUST CORPO
BROWN BROTHERS HARRI
BANK OF NEW YORK MEL
US BANCORP
NORGES BANK
GENERAL RE NEW ENGLA
TIAA-CREF INVESTMENT
n/a
AMERIPRISE FINANCIAL
WELLINGTON MANAGEMEN
n/a
INVESCO LTD
Analyst
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
Recommendation
market perform
neutral
market perform
buy
hold
outperform
buy
outperform
neutral
buy
outperform
Positive
neutral
outperform
market perform
equalweight
overweight
outperform
neutral
strong buy
outperform
buy
buy
neutral
neutral
hold
market perform
Equalwt/Attractive
neutral
hold
outperform
hold
sector perform
hold
underperform
buy
neutral/attractive
hold
Amt Held
127'711'211
92'622'260
81'598'966
78'784'430
62'918'791
61'264'601
50'144'261
42'675'190
30'342'116
25'616'477
24'685'361
20'528'657
17'502'619
17'490'943
16'152'328
15'872'312
14'441'311
14'236'644
13'766'814
13'547'948
% Out
6.85
4.97
4.38
4.23
3.38
3.29
2.69
2.29
1.63
1.37
1.32
1.1
0.94
0.94
0.87
0.85
0.78
0.76
0.74
0.73
Weighting
Change
3
3
3
5
3
5
5
5
3
5
5
4
3
5
3
3
5
5
3
5
5
5
5
3
3
3
3
3
3
3
5
3
3
3
1
5
3
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
D
M
M
M
M
U
M
M
M
D
M
U
M
M
Latest Chg
9'949'925
(4'769'856)
1'847'054
2'010'496
(1'113'706)
(315'000)
408'532
1'376'167
(32'692)
133'525
3'378'398
100
1'552'818
3'338'126
(3'257'567)
(2'660'473)
1'207'251
(1'481'375)
Target Price
37
35
#N/A N/A
42
#N/A N/A
37
38
#N/A N/A
35
40
37
40
35
36
36
34
40
39
32
39
35
38
41
32
38
#N/A N/A
#N/A N/A
35
#N/A N/A
#N/A N/A
39
35
40
34
35
38
36
#N/A N/A
File Dt
22.03.2013
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
9 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Insurance Company
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Date
22.03.2013
21.03.2013
19.03.2013
19.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
08.03.2013
08.03.2013
05.03.2013
05.03.2013
25.02.2013
15.02.2013
14.02.2013
11.02.2013
08.02.2013
05.02.2013
05.02.2013
04.02.2013
30.01.2013
28.01.2013
23.01.2013
17.01.2013
17.01.2013
17.01.2013
16.01.2013
16.01.2013
16.01.2013
16.01.2013
16.01.2013
04.01.2013
03.01.2013
18.07.2012
26.03.2013
Price/Volume
12.0 M
10.0 M
8.0 M
30
12/2012
12/yy
49.59
36.80
588'318.00
49.5
-0.18%
34.51%
97.78%
2'858.3
141'484.64
51'987.00
0.0
52'376.0
3'563.00
242'284.63
6.0 M
20
4.0 M
10
2.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
14.0 M
50
40
Valuation Analysis
31.12.2008
97'354.0
1.80x
32'830.0
5.34x
6'428.0
13.35x
60
31.12.2009
31.12.2010
107'808.0
106'565.0
1.82x
1.83x
32'512.0
31'050.0
6.04x
6.28x
4'894.0
2'549.0
11.71x
70.16x
Profitability
LTM-4Q
31.12.2011
110'875.0
1.85x
29'376.0
6.98x
2'404.0
18.66x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
115'846.0
1.94x
29'620.0
7.58x
875.0
19.32x
29'620.00
13'160.00
11.36%
8.54%
0.38%
2.53%
0.51%
60.1%
25.6%
11.4%
0.8%
0.79
0.60
23.08%
156.79%
9.51
45.93
LTM
FY+1
4.10
0.71
2'857.84
61.21
31.93%
15.77%
0.707
37
3.865
2'653'625
2'941'220
3'028'536
FY+2
FQ+1
FQ+2
12/yy
12/yy
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
110'875.0 115'846.0 120'734.5 125'329.1
29'541.5
29'822.9
7.31x
7.59x
1.94x
1.81x
8.19x
8.03x
29'376.0
29'620.0
41'285.8
43'955.0
10'027.3
10'513.5
6.98x
7.58x
5.87x
5.51x
5.88x
5.78x
2'404.0
875.0
7'910.3
8'997.8
1'875.4
2'058.4
18.57x
19.23x
17.91x
15.72x
17.98x
17.20x
S&P Issuer Ratings
Long-Term Rating Date
06.12.2010
Long-Term Rating
ALong-Term Outlook
STABLE
Short-Term Rating Date
06.12.2010
Short-Term Rating
A-2
Credit Ratios
EBITDA/Interest Exp.
9.95
(EBITDA-Capex)/Interest Exp.
4.52
Net Debt/EBITDA
1.63
Total Debt/EBITDA
1.76
Reference
Total Debt/Equity
156.8%
Total Debt/Capital
37.8%
Asset Turnover
0.51
Net Fixed Asset Turnover
1.31
Accounts receivable turnover-days
38.47
Inventory Days
7.97
Accounts Payable Turnover Day
121.73
Cash Conversion Cycle
-75.29
Sales/Revenue/Turnover
5.00
140'000.0
4.50
120'000.0
4.00
3.50
100'000.0
3.00
80'000.0
2.50
60'000.0
2.00
40'000.0
1.50
1.00
20'000.0
0.50
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
CAPITAL GROUP COMPAN
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
FMR LLC
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
JP MORGAN
AMERIPRISE FINANCIAL
BANK OF AMERICA CORP
NORGES BANK
T ROWE PRICE ASSOCIA
GEODE CAPITAL MANAGE
INVESCO LTD
BARROW HANLEY MEWHIN
TIAA CREF INVESTMENT
UBS
GOLDMAN SACHS GROUP
MORGAN STANLEY
Firm Name
Raymond James
Tigress Financial Partners
Pacific Crest Securities
Oppenheimer & Co
Wells Fargo Securities, LLC
Goldman Sachs
Argus Research Corp
Evercore Partners
Piper Jaffray
New Street Research
Macquarie
Morgan Stanley
Nomura
Atlantic Equities LLP
William Blair & Co
Cowen and Company
Edward Jones
HSBC
Telsey Advisory Group
JPMorgan
Gabelli & Co
Guggenheim Securities LLC
RBC Capital Markets
Hilliard Lyons
Jefferies
Robert W. Baird & Co
FBR Capital Markets
Stifel
Scotia Capital
Canaccord Genuity Corp
S&P Capital IQ
EVA Dimensions
Daiwa Securities Co. Ltd.
Deutsche Bank
McAdams Wright Ragen Inc
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
NORTHERN TRUST CORPO
BANK OF NEW YORK MEL
n/a
AMERIPRISE FINANCIAL
BANK OF AMERICA
NORGES BANK
T ROWE PRICE ASSOCIA
GEODE CAPITAL MANAGE
INVESCO LTD
BARROW HANLEY MEWHIN
TIAA-CREF INVESTMENT
n/a
GOLDMAN SACHS GROUP
n/a
Analyst
FRANK G LOUTHAN
IVAN FEINSETH
MICHAEL BOWEN
TIMOTHY K HORAN
JENNIFER M FRITZSCHE
JASON ARMSTRONG
JOSEPH F BONNER
JONATHAN SCHILDKRAUT
CHRISTOPHER M LARSEN
JONATHAN CHAPLIN
KEVIN SMITHEN
SIMON FLANNERY
MICHAEL L MCCORMACK
CHRISTOPHER WATTS
JAMES D BREEN JR
COLBY SYNESAEL
DAVID HEGER
RICHARD DINEEN
JAISON BLAIR
PHILIP CUSICK
SERGEY DLUZHEVSKIY
SHING YIN
JONATHAN ATKIN
DAVID B BURKS
THOMAS O SEITZ
WILLIAM V POWER
DAVID DIXON
CHRISTOPHER C KING
JEFFREY FAN
GREGORY MILLER
TODD ROSENBLUTH
ANDREW S ZAMFOTIS
NACHI HOSHINO
BRETT FELDMAN
SID PARAKH
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
13F
ULT-AGG
13F
ULT-AGG
Recommendation
outperform
neutral
outperform
outperform
outperform
Buy/Neutral
buy
equalweight
overweight
neutral
outperform
Equalwt/In-Line
buy
overweight
market perform
neutral
hold
overweight
no rating system
neutral
buy
neutral
sector perform
buy
buy
neutral
market perform
hold
sector outperform
buy
hold
underweight
neutral
hold
buy
Amt Held
183'916'152
173'198'714
128'285'164
119'747'650
79'590'180
49'682'047
41'212'577
39'611'341
35'336'961
22'251'005
21'837'780
21'259'449
19'178'238
18'851'640
17'255'772
16'818'901
16'545'939
14'617'959
14'458'195
13'699'257
% Out
6.43
6.06
4.49
4.19
2.78
1.74
1.44
1.39
1.24
0.78
0.76
0.74
0.67
0.66
0.6
0.59
0.58
0.51
0.51
0.48
Weighting
Change
5
3
5
5
5
5
5
3
5
3
5
3
5
5
3
3
3
5
#N/A N/A
3
5
3
3
5
5
3
3
3
5
5
3
1
3
3
5
M
N
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
N
Latest Chg
876'390
3'155'933
3'201'564
828'318
14'423'461
260'183
(1'301'038)
(2'223'678)
2'517'583
(3'341'938)
1'609'544
1'515'395
(1'785'920)
(557'474)
(415'568)
(2'890'277)
(1'196'455)
83'924
26'966
Target Price
48
#N/A N/A
53
52
#N/A N/A
51
54
47
50
43
51
#N/A N/A
49
51
#N/A N/A
#N/A N/A
#N/A N/A
50
48
48
#N/A N/A
45
50
48
52
44
45
#N/A N/A
48
50
44
#N/A N/A
46
45
37
File Dt
31.12.2012
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
31.12.2012
Date
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
9 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Date
26.03.2013
25.03.2013
21.03.2013
19.03.2013
15.03.2013
14.03.2013
13.03.2013
12.03.2013
12.03.2013
11.03.2013
08.03.2013
06.03.2013
06.03.2013
06.03.2013
05.03.2013
01.03.2013
26.02.2013
19.02.2013
10.02.2013
04.02.2013
01.02.2013
30.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
23.01.2013
22.01.2013
22.01.2013
22.01.2013
22.01.2013
15.01.2013
12.12.2012
19.10.2012
30.01.2009
26.03.2013
Visa Inc
Visa Inc. operates a retail electronic payments network and manages global
financial services. The Company also offers global commerce through the
transfer of value and information among financial institutions, merchants,
consumers, businesses and government entities.
Price/Volume
180
4.0 M
160
3.5 M
140
3.0 M
120
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (01.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 01.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
V UN EQUITY YTD Change
V UN EQUITY YTD % CHANGE
09/2012
12/yy
167.77
111.95
526'084.00
167.07
-0.42%
49.24%
99.46%
529.4
110'416.18
0.00
0.0
0.0
6'100.00
104'230.18
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
2.0 M
1.5 M
60
40
1.0 M
20
.5 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
2.5 M
100
80
30.09.2009
30.09.2010
6'911.0
8'065.0
7.98x
7.19x
3'766.0
4'809.0
14.64x
12.06x
2'353.0
2'966.0
21.40x
18.71x
Profitability
LTM-4Q
30.09.2011
9'188.0
7.13x
5'751.0
11.39x
3'650.0
17.18x
30.09.2012
10'421.0
9.86x
6'572.0
15.64x
2'144.0
21.66x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
6'572.00
6'239.00
59.87%
21.18%
6.72%
8.77%
0.30%
63.1%
59.9%
20.6%
1.48
0.45
0.00%
0.00%
14.99
-
LTM
12/yy
9'497.0
28.09x
6'016.0
13.12x
3'795.0
19.30x
12/yy
10'720.0
35.99x
6'769.0
17.09x
2'408.0
23.25x
FY+1
0.59
0.98
528.62
6.15
40.28%
10.45%
0.984
41
4.244
1'465'519
813'062
725'663
FY+2
FQ+1
FQ+2
09/13 Y
09/14 Y
03/13 Q2 06/13 Q3
11'585.3
12'931.0
2'852.8
2'871.7
9.06x
7.84x
36.87x
36.39x
7'442.7
8'444.7
1'859.0
1'812.8
14.03x
12.36x
13.66x
13.23x
4'868.8
5'518.1
1'198.7
1'176.7
22.77x
19.61x
22.19x
21.39x
S&P Issuer Ratings
20.05.2008
A+
STABLE
20.05.2008
A-1
-0.91
0.00
0.0%
0.0%
0.30
6.74
24.41
-
Sales/Revenue/Turnover
250.00
12'000.0
10'000.0
200.00
8'000.0
150.00
6'000.0
100.00
4'000.0
50.00
0.00
02.10.2009
2'000.0
0.0
02.04.2010
02.10.2010
02.04.2011
02.10.2011
02.04.2012
02.10.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Visa Inc
Holdings By:
All
Holder Name
FMR LLC
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
T ROWE PRICE ASSOCIA
SANDS CAPITAL MANAGE
SUN LIFE FINANCIAL I
MORGAN STANLEY
WINSLOW CAPITAL MANA
UBS
JP MORGAN
GOLDMAN SACHS GROUP
AMERIPRISE FINANCIAL
NORTHERN TRUST CORPO
CAPITAL GROUP COMPAN
JENNISON ASSOCIATES
BANK OF NEW YORK MEL
MACQUARIE GROUP
PRIMECAP MANAGEMENT
Firm Name
RBC Capital Markets
Nomura
Oppenheimer & Co
Edward Jones
Janney Montgomery Scott LLC
Jefferies
Pacific Crest Securities
Sanford C. Bernstein & Co
Wells Fargo Securities, LLC
JPMorgan
FBR Capital Markets
Keefe, Bruyette & Woods
Sterne, Agee & Leach
BNP Paribas Equity Research
Evercore Partners
Robert W. Baird & Co
Credit Agricole Securities (USA)
Wedbush
Guggenheim Securities LLC
Argus Research Corp
Stifel
Telsey Advisory Group
EVA Dimensions
Portales Partners
Daiwa Securities Co. Ltd.
Barclays
Macquarie
SunTrust Robinson Humphrey
Buckingham Research Group
Cowen and Company
S&P Capital IQ
Susquehanna Financial Group
Credit Suisse
William Blair & Co
Raymond James
Deutsche Bank
Goldman Sachs
Meredith Whitney Advisory Group
Fincorp SAOG
Lazard Capital Markets
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
T ROWE PRICE ASSOCIA
SANDS CAPITAL MANAGE
n/a
n/a
WINSLOW CAPITAL MANA
n/a
n/a
GOLDMAN SACHS GROUP
AMERIPRISE FINANCIAL
NORTHERN TRUST CORPO
n/a
JENNISON ASSOCIATES
BANK OF NEW YORK MEL
n/a
PRIMECAP MANAGEMENT
Analyst
DANIEL R PERLIN
BILL CARCACHE
GLENN GREENE
JOSH OLSON
THOMAS C MCCROHAN
JASON KUPFERBERG
JAMES FAUCETTE
RODERICK BOURGEOIS
TIMOTHY W WILLI
TIEN-TSIN HUANG
SCOTT VALENTIN
SANJAY SAKHRANI
GREGORY SMITH
ARVIND RAMNANI
DAVID M TOGUT
DAVID J KONING
CRAIG J MAURER
GIL B LURIA
DAVID W DARST
DAVID RITTER
CHRISTOPHER C BRENDLER
MICHAEL P TAIANO
ANDREW S ZAMFOTIS
WILLIAM H RYAN
KAZUKI WATANABE
DARRIN D PELLER
KEVIN MCVEIGH
ANDREW W JEFFREY
DAVID HOCHSTIM
MOSHE KATRI
SONIA PARECHANIAN
JAMES E FRIEDMAN
MOSHE A ORENBUCH
ROBERT P NAPOLI
WAYNE JOHNSON
BRYAN KEANE
JULIO C QUINTEROS JR
MEREDITH A WHITNEY
GAURAV RAMAIYA
JENNIFER DUGAN
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
13F
13F
ULT-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
Recommendation
outperform
buy
outperform
hold
neutral
buy
outperform
market perform
market perform
overweight
market perform
outperform
buy
hold
overweight
neutral
buy
neutral
buy
hold
buy
no rating system
underweight
sector perform
outperform
overweight
outperform
buy
buy
outperform
hold
Positive
outperform
outperform
strong buy
buy
Buy/Neutral
outperform
buy
buy
Amt Held
32'709'933
32'152'079
23'439'681
20'072'278
14'908'716
13'565'267
13'282'579
12'925'096
9'514'383
8'232'536
7'986'935
7'685'418
7'515'909
7'012'049
6'672'374
6'133'184
5'907'360
5'309'858
5'207'365
5'039'687
% Out
6.18
6.07
4.43
3.79
2.82
2.56
2.51
2.44
1.8
1.56
1.51
1.45
1.42
1.32
1.26
1.16
1.12
1
0.98
0.95
Weighting
Change
5
5
5
3
3
5
5
3
3
5
3
5
5
3
5
3
5
3
5
3
5
#N/A N/A
1
3
5
5
5
5
5
5
3
4
5
5
5
5
5
5
5
5
M
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
D
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
M
Latest Chg
3'347'680
522'645
117'801
1'219'070
(491'245)
614'717
837'632
(1'430'201)
(1'210'385)
2'023'747
(524'079)
(778'364)
79'135
(42'613)
462'691
(175'405)
(142'677)
(165'100)
Target Price
176
172
177
#N/A N/A
135
162
180
149
#N/A N/A
180
170
186
175
166
169
168
195
145
185
#N/A N/A
187
172
#N/A N/A
#N/A N/A
172
180
175
190
190
#N/A N/A
169
184
175
#N/A N/A
185
177
188
134
105
105
File Dt
31.12.2012
31.12.2012
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.01.2013
31.12.2012
31.01.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
9 month
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
26.03.2013
26.03.2013
25.03.2013
22.03.2013
22.03.2013
22.03.2013
21.03.2013
21.03.2013
21.03.2013
20.03.2013
20.03.2013
19.03.2013
19.03.2013
18.03.2013
18.03.2013
13.03.2013
12.03.2013
08.03.2013
07.03.2013
01.03.2013
27.02.2013
27.02.2013
26.02.2013
25.02.2013
15.02.2013
15.02.2013
11.02.2013
07.02.2013
07.02.2013
07.02.2013
07.02.2013
07.02.2013
06.02.2013
06.02.2013
06.02.2013
22.01.2013
09.01.2013
25.07.2012
27.10.2011
10.06.2011
26.03.2013
Price/Volume
90
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
10.0 M
70
01/2013
01/yy
77.50
57.18
609'917.00
74.74
-3.56%
30.71%
86.96%
3'345.2
250'023.06
54'136.00
0.0
5'395.0
7'781.00
301'773.07
60
8.0 M
50
40
6.0 M
30
4.0 M
20
2.0 M
10
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
12.0 M
80
31.01.2010
31.01.2011
408'085.0
421'849.0
0.58x
0.57x
31'159.0
33'183.0
7.63x
7.30x
14'370.0
16'389.0
14.56x
13.78x
Profitability
LTM-4Q
31.01.2012
446'950.0
0.58x
34'688.0
7.53x
15'699.0
13.67x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.01.2013
469'162.0
0.61x
36'302.0
7.86x
16'999.0
13.93x
36'302.00
27'801.00
5.93%
5.49%
8.57%
23.02%
14.57%
2.37%
24.9%
7.7%
5.9%
3.6%
0.83
0.20
26.65%
70.91%
73.85
8.34
LTM
FY+1
2.13
0.59
1'705.60
34.30
25.09%
10.25%
0.587
34
3.735
1'993'182
2'671'119
2'232'224
FY+2
FQ+1
FQ+2
01/yy
01/yy
01/14 Y
01/15 Y
04/13 Q1 07/13 Q2
446'950.0 469'162.0 491'790.1 514'013.2 116'280.0 119'660.4
2.21x
2.44x
0.60x
0.58x
34'688.0
36'302.0
37'856.6
39'832.9
7'880.7
8'555.7
7.53x
7.86x
7.97x
7.58x
8.57x
8.49x
15'699.0
16'999.0
17'578.3
18'744.8
3'821.9
4'263.9
13.70x
13.93x
13.93x
12.70x
13.98x
13.66x
S&P Issuer Ratings
Long-Term Rating Date
09.07.1999
Long-Term Rating
AA
Long-Term Outlook
STABLE
Short-Term Rating Date
22.07.1983
Short-Term Rating
A-1+
Credit Ratios
EBITDA/Interest Exp.
16.13
(EBITDA-Capex)/Interest Exp.
10.40
Net Debt/EBITDA
1.28
Total Debt/EBITDA
1.49
Reference
Total Debt/Equity
70.9%
Total Debt/Capital
39.8%
Asset Turnover
2.37
Net Fixed Asset Turnover
4.10
Accounts receivable turnover-days
4.96
Inventory Days
43.88
Accounts Payable Turnover Day
38.44
Cash Conversion Cycle
10.40
Sales/Revenue/Turnover
12.00
500'000.0
450'000.0
10.00
400'000.0
350'000.0
8.00
300'000.0
6.00
250'000.0
200'000.0
4.00
150'000.0
100'000.0
2.00
0.00
05.02.2010
50'000.0
0.0
05.08.2010
05.02.2011
05.08.2011
05.02.2012
05.08.2012
05.02.2013
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
26.03.2013
All
Holder Name
WALTON ENTERPRISES L
BLACKROCK
VANGUARD GROUP INC
STATE STREET
VANGUARD GROUP INC
BERKSHIRE HATHAWAY I
FMR LLC
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
STATE FARM MUTUAL AU
CAPITAL GROUP COMPAN
DODGE & COX
GRANTHAM MAYO VAN OT
LAZARD ASSET MANAGEM
CITIGROUP INCORPORAT
BANK OF AMERICA CORP
GEODE CAPITAL MANAGE
GATES FOUNDATION
LEGAL & GENERAL
WALTON JIM C
Firm Name
Stifel
Janney Montgomery Scott LLC
Northcoast Research
ISI Group
Jefferies
Edward Jones
Raymond James
Shore Capital Stockbrokers
Robert W. Baird & Co
Sanford C. Bernstein & Co
Cowen and Company
Morgan Stanley
Tigress Financial Partners
BMO Capital Markets
Stephens Inc
Daiwa Securities Co. Ltd.
Argus Research Corp
JPMorgan
Independent Research GmbH
Buckingham Research Group
Susquehanna Financial Group
MKM Partners
Telsey Advisory Group
Credit Suisse
Gilford Securities
William Blair & Co
Wells Fargo Securities, LLC
Barclays
EVA Dimensions
Deutsche Bank
S&P Capital IQ
HSBC
First Global Stockbroking
Crowell, Weedon & Co
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
Multiple Portfolios
n/a
n/a
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
STATE FARM MUTUAL AU
n/a
DODGE & COX
GRANTHAM MAYO VAN OT
n/a
CITIGROUP INCORPORAT
BANK OF AMERICA
GEODE CAPITAL MANAGE
BILL & MELINDA FOUND
n/a
n/a
Analyst
DAVID A SCHICK
DAVID S STRASSER
CHARLES E CERANKOSKY
GREGORY MELICH
DANIEL T BINDER
BRIAN YARBROUGH
BUDD BUGATCH
CLIVE WILLIAM BLACK
PETER S BENEDICT
COLIN MCGRANAHAN
FAYE LANDES
MARK WILTAMUTH
IVAN FEINSETH
WAYNE HOOD
JOHN R LAWRENCE
KAHORI TAMADA
CHRISTOPHER GRAJA
CHRISTOPHER HORVERS
ZAFER RUZGAR
JOHN M ZOLIDIS
ROBERT SUMMERS
PATRICK G MCKEEVER JR
JOSEPH I FELDMAN
MICHAEL B EXSTEIN
BERNARD SOSNICK
MARK R MILLER
MATTHEW NEMER
ROBERT S DRBUL
AUSTIN BURKETT
PAUL TRUSSELL
IAN GORDON
FRANCISCO J CHEVEZ
RITESH DOSHI
JAMES D RAGAN
Source
Form 4
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
Form 4
Recommendation
buy
buy
neutral
neutral
buy
buy
market perform
corporate
outperform
market perform
neutral
Equalwt/In-Line
neutral
market perform
overweight
neutral
hold
neutral
sell
neutral
Positive
neutral
no rating system
neutral
buy
market perform
market perform
overweight
overweight
hold
buy
overweight
moderate outperform
reduce
Amt Held
1'609'891'131
94'173'761
91'921'266
76'903'765
62'128'537
47'501'182
42'960'886
32'602'909
22'816'164
16'800'850
15'407'673
14'336'624
14'045'701
12'800'762
11'717'322
11'412'879
11'106'085
11'103'000
10'979'197
10'499'215
% Out
48.12
2.82
2.75
2.3
1.86
1.42
1.28
0.97
0.68
0.5
0.46
0.43
0.42
0.38
0.35
0.34
0.33
0.33
0.33
0.31
Weighting
Change
5
5
3
3
5
5
3
#N/A N/A
5
3
3
3
3
3
5
3
3
3
1
3
4
3
#N/A N/A
3
5
3
3
5
5
3
5
5
4
2
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
R
M
M
D
Latest Chg
327'366
1'872'051
(86'402)
793'040
(10'152'536)
1'547'020
(200'024)
3'235'471
(313'625)
(682'369)
(154'135)
11'664'562
221'310
(1'112'337)
500'000
31'326
2'735
Target Price
83
80
#N/A N/A
76
88
#N/A N/A
#N/A N/A
#N/A N/A
78
76
#N/A N/A
#N/A N/A
#N/A N/A
70
81
75
#N/A N/A
75
67
77
85
76
80
80
#N/A N/A
#N/A N/A
#N/A N/A
80
#N/A N/A
68
76
83
#N/A N/A
55
File Dt
01.06.2012
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
28.02.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
01.06.2012
Date
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
9 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
18 month
Inst Type
Holding Company
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Endowment
Unclassified
n/a
Date
26.03.2013
25.03.2013
25.03.2013
24.03.2013
21.03.2013
18.03.2013
18.03.2013
14.03.2013
13.03.2013
12.03.2013
08.03.2013
27.02.2013
27.02.2013
25.02.2013
25.02.2013
25.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
22.02.2013
21.02.2013
21.02.2013
21.02.2013
21.02.2013
21.02.2013
18.02.2013
15.02.2013
18.12.2012
17.12.2012
18.08.2011
31.08.2010
26.03.2013
Walgreen Co
Walgreen Company operates retail drugstores that offer a wide variety of
prescription and non-prescription drugs as well as general goods. The Company
operates stores in the United States, the District of Columbia, Puerto Rico and
Guam. Walgreen's also offers health services, including primary and acute care,
wellness, pharmacy and disease management services and health and fitness.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (26.03.2013)
52-Week Low (20.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 28.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
WAG UN EQUITY YTD Change
WAG UN EQUITY YTD % CHANGE
08/2012
02/yy
47.37
28.53
583'741.00
47.31
-0.13%
65.83%
94.39%
945.1
44'712.91
5'392.00
0.0
0.0
1'297.00
48'638.91
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
8.0 M
7.0 M
6.0 M
5.0 M
4.0 M
3.0 M
2.0 M
1.0 M
a-12
m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
50
45
40
35
30
25
20
15
10
5
0
m-12
31.08.2009
31.08.2010
63'335.0
67'420.0
0.53x
0.38x
4'222.0
4'488.0
7.88x
5.74x
2'006.0
2'091.0
16.77x
11.74x
Profitability
LTM-4Q
31.08.2011
72'184.0
0.45x
5'059.0
6.36x
2'714.0
13.19x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.08.2012
71'633.0
0.53x
4'630.0
8.18x
2'127.0
14.13x
4'630.00
3'464.00
4.84%
4.71%
6.62%
12.19%
10.02%
2.28%
28.4%
6.4%
4.6%
3.0%
1.23
0.40
16.11%
29.57%
28.37
6.88
LTM
02/yy
73'146.0
1.81x
4'905.0
6.10x
2'632.0
12.61x
02/yy
70'788.0
2.03x
4'516.0
9.44x
2'059.0
16.99x
FY+1
2.22
0.70
869.72
16.59
41.78%
28.68%
0.702
26
3.846
2'269'901
1'572'737
1'493'050
FY+2
FQ+1
FQ+2
08/13 Y
08/14 Y
05/13 Q3 08/13 Q4
72'662.8
76'019.1
18'557.6
18'120.2
0.65x
0.63x
2.60x
2.62x
5'599.5
6'160.8
1'480.2
1'323.7
8.67x
7.88x
8.29x
8.11x
2'956.1
3'365.1
850.8
757.2
14.56x
12.83x
13.58x
13.43x
S&P Issuer Ratings
02.08.2012
BBB
STABLE
02.08.2012
A-2
47.73
31.75
0.87
1.41
29.6%
22.8%
2.28
5.96
12.86
53.04
31.27
32.26
Sales/Revenue/Turnover
12.00
80'000.0
70'000.0
10.00
60'000.0
8.00
50'000.0
40'000.0
6.00
30'000.0
4.00
20'000.0
2.00
0.00
04.09.2009
10'000.0
0.0
04.03.2010
04.09.2010
04.03.2011
04.09.2011
04.03.2012
04.09.2012
04.03.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
Walgreen Co
Holdings By:
All
Holder Name
PESSINA STEFANO
VANGUARD GROUP INC
STATE STREET
BLACKROCK
VANGUARD GROUP INC
FMR LLC
WELLINGTON MANAGEMEN
FRANKLIN RESOURCES
NORTHERN TRUST CORPO
SUN LIFE FINANCIAL I
JP MORGAN
BANK OF NEW YORK MEL
MACQUARIE GROUP
BARROW HANLEY MEWHIN
INVESCO LTD
GOLDMAN SACHS GROUP
ALLIANZ ASSET MANAGE
NORGES BANK
ORBIS HOLDINGS LIMIT
AJO, LP
Firm Name
Lazard Capital Markets
Macquarie
Morgan Stanley
Goldman Sachs
Argus Research Corp
Edward Jones
SunTrust Robinson Humphrey
JPMorgan
William Blair & Co
Cantor Fitzgerald
BB&T Capital Markets
Guggenheim Securities LLC
Susquehanna Financial Group
Barclays
Credit Suisse
Raymond James
Scotia Capital
ISI Group
Tigress Financial Partners
Mizuho Securities USA Inc
Barrington Research
EVA Dimensions
JMP Securities
First Global Stockbroking
Portfolio Name
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
n/a
WELLINGTON MANAGEMEN
n/a
NORTHERN TRUST CORPO
n/a
n/a
BANK OF NEW YORK MEL
n/a
BARROW HANLEY MEWHIN
INVESCO LTD
GOLDMAN SACHS GROUP
n/a
NORGES BANK
ORBIS HOLDINGS LIMIT
AJO, LP
Analyst
THOMAS GALLUCCI
DANE LEONE
MARK WILTAMUTH
MATTHEW J FASSLER
CHRISTOPHER GRAJA
JUDSON CLARK
DAVID G MAGEE
LISA C GILL
MARK R MILLER
AJAY JAIN
ANDREW P WOLF
JOHN HEINBOCKEL
ROBERT SUMMERS
MEREDITH ADLER
EDWARD J KELLY
JOHN W RANSOM
PATRICIA A BAKER
ROSS MUKEN
IVAN FEINSETH
ANN HYNES
CHARLES R JONES
AUSTIN BURKETT
CONSTANTINE DAVIDES
RITESH DOSHI
Source
13D/PROX
13F
ULT-AGG
ULT-AGG
MF-AGG
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
13F
Recommendation
neutral
outperform
Equalwt/In-Line
Buy/Neutral
hold
hold
buy
overweight
outperform
buy
buy
buy
Positive
equalweight
neutral
outperform
sector outperform
cautious
underperform
buy
outperform
sell
market perform
market perform
Amt Held
72'841'856
45'553'194
40'704'805
40'299'584
31'564'460
21'258'567
20'084'016
19'577'086
12'908'934
12'839'154
12'473'201
12'412'556
11'704'910
9'862'536
9'826'160
9'394'722
8'711'200
7'571'619
7'038'081
6'637'500
% Out
7.71
4.82
4.31
4.26
3.34
2.25
2.13
2.07
1.37
1.36
1.32
1.31
1.24
1.04
1.04
0.99
0.92
0.8
0.74
0.7
Weighting
Change
3
5
3
5
3
3
5
5
5
5
5
5
4
3
3
5
5
2
1
5
5
1
3
3
M
U
M
M
M
M
M
U
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
Latest Chg
961'930
(1'279'704)
(1'520'170)
7'057'963
2'069'870
3'883'583
(31'420)
(2'023'160)
(1'211'346)
3'282'997
1'541'142
(49'918)
597'097
(339'452)
510'773
(958'453)
(305'902)
(370'000)
Target Price
#N/A N/A
52
#N/A N/A
50
#N/A N/A
#N/A N/A
50
55
#N/A N/A
49
53
50
56
39
46
50
50
43
#N/A N/A
46
45
#N/A N/A
#N/A N/A
#N/A N/A
File Dt
12.11.2012
31.12.2012
25.03.2013
22.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
9 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
Inst Type
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Date
25.03.2013
21.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
20.03.2013
19.03.2013
19.03.2013
19.03.2013
19.03.2013
13.03.2013
05.03.2013
28.01.2013
15.01.2013
27.03.2012
27.06.2011
26.03.2013
Price/Volume
70
9.0 M
60
8.0 M
7.0 M
50
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (14.03.2013)
52-Week Low (10.04.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 30.01.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
DIS UN EQUITY YTD Change
DIS UN EQUITY YTD % CHANGE
09/2012
12/yy
57.81
40.88
246'781.00
56.53
-2.21%
38.28%
90.55%
1'805.4
102'061.31
14'311.00
0.0
2'199.0
3'387.00
118'656.31
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
5.0 M
30
4.0 M
3.0 M
20
2.0 M
10
1.0 M
0
m-12
30.09.2009
30.09.2010
36'149.0
38'063.0
1.67x
1.96x
7'328.0
8'439.0
8.25x
8.86x
3'307.0
3'963.0
14.95x
16.11x
Profitability
LTM-4Q
30.09.2011
40'893.0
1.65x
9'622.0
7.00x
4'807.0
11.87x
30.09.2012
42'278.0
2.51x
10'850.0
9.79x
5'682.0
16.97x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
10'850.00
8'863.00
20.96%
21.90%
7.25%
14.31%
11.15%
0.55%
21.0%
25.6%
20.9%
13.4%
1.07
0.77
19.11%
35.99%
6.08
23.00
m-12
j-12
j-12
LTM
12/yy
40'956.0
7.91x
9'912.0
8.25x
4'969.0
14.10x
a-12
12/yy
42'840.0
9.46x
10'959.0
9.59x
5'600.0
16.06x
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
FY+1
1.33
1.13
1'635.17
35.55
29.32%
13.54%
1.127
33
4.273
1'574'588
2'114'503
2'201'723
FY+2
FQ+1
FQ+2
09/13 Y
09/14 Y
03/13 Q2 06/13 Q3
45'160.9
47'977.4
10'467.8
11'773.6
2.57x
2.40x
11.32x
9.96x
12'300.8
13'440.1
2'747.6
3'768.5
9.65x
8.83x
9.42x
9.24x
6'235.9
6'866.7
1'388.0
1'938.5
16.40x
14.53x
15.88x
15.40x
S&P Issuer Ratings
22.12.2009
A
STABLE
22.12.2009
A-1
19.24
12.53
1.30
1.59
36.0%
25.4%
0.55
2.07
59.91
15.82
77.30
21.82
Sales/Revenue/Turnover
16.00
45'000.0
14.00
40'000.0
12.00
35'000.0
30'000.0
10.00
25'000.0
8.00
20'000.0
6.00
15'000.0
4.00
10'000.0
2.00
5'000.0
0.00
09.10.2009
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
6.0 M
40
0.0
09.04.2010
09.10.2010
09.04.2011
09.10.2011
09.04.2012
09.10.2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
LAURENE POWELL JOBS
BLACKROCK
VANGUARD GROUP INC
STATE STREET
FMR LLC
SUN LIFE FINANCIAL I
VANGUARD GROUP INC
STATE FARM MUTUAL AU
LUCAS GEORGE
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
CAPITAL GROUP COMPAN
STATE FARM MUTUAL AU
SOUTHEASTERN ASSET M
DAVIS SELECTED ADVIS
JP MORGAN
NORGES BANK
JENNISON ASSOCIATES
Firm Name
Wunderlich Securities
Nomura
Lazard Capital Markets
Sanford C. Bernstein & Co
Tigress Financial Partners
Needham & Co
B Riley & Company, Inc
Morgan Stanley
Edward Jones
Argus Research Corp
Cowen and Company
Telsey Advisory Group
Hilliard Lyons
Stifel
Goldman Sachs
RBC Capital Markets
Credit Suisse
JPMorgan
Janney Montgomery Scott LLC
Macquarie
Davenport & Co
Wells Fargo Securities, LLC
S&P Capital IQ
Gabelli & Co
Susquehanna Financial Group
Atlantic Equities LLP
Piper Jaffray
Barclays
EVA Dimensions
Wedge Partners
Evercore Partners
Deutsche Bank
Pacific Crest Securities
BTIG LLC
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
n/a
n/a
Multiple Portfolios
STATE FARM MUTUAL AU
n/a
T ROWE PRICE ASSOCIA
WELLINGTON MANAGEMEN
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
n/a
STATE FARM MUTUAL AU
SOUTHEASTERN ASSET M
DAVIS SELECTED ADVIS
n/a
NORGES BANK
JENNISON ASSOCIATES
Analyst
MATTHEW HARRIGAN
MICHAEL NATHANSON
BARTON CROCKETT
TODD JUENGER
IVAN FEINSETH
LAURA A MARTIN
DAVID W MILLER
BENJAMIN SWINBURNE
ROBIN DIEDRICH
JOSEPH F BONNER
DOUGLAS CREUTZ
JAISON BLAIR
JEFFREY S THOMISON
DREW E CRUM
DREW BORST
DAVID BANK
MICHAEL SENNO
ALEXIA S QUADRANI
TONY WIBLE
TIMOTHY W NOLLEN
MICHAEL C MORRIS
MARCI RYVICKER
TUNA AMOBI
BRETT HARRISS
VASILY KARASYOV
HAMILTON FABER
JAMES M MARSH JR
ANTHONY J DICLEMENTE
CRAIG STERLING
MARTIN PYYKKONEN
ALAN GOULD
DOUGLAS D MITCHELSON
EVAN S WILSON
RICHARD GREENFIELD
Source
PROXY
ULT-AGG
13F
ULT-AGG
ULT-AGG
ULT-AGG
MF-AGG
13F
Co File
13F
13F
13F
13F
ULT-AGG
Sch-D
13F
13F
ULT-AGG
13F
13F
Recommendation
hold
buy
buy
outperform
buy
hold
buy
Overwt/Attractive
buy
buy
neutral
no rating system
long-term buy
buy
buy/attractive
outperform
outperform
overweight
neutral
neutral
buy
outperform
strong buy
hold
neutral
overweight
neutral
equalweight
sell
no rating system
overweight
buy
sector perform
buy
Amt Held
130'844'544
86'752'335
76'550'929
73'462'577
69'556'293
55'329'260
47'953'597
42'206'018
37'076'679
33'008'599
30'368'292
30'145'431
27'396'485
25'401'648
23'259'165
18'216'229
17'149'415
15'397'087
14'991'213
14'062'839
% Out
7.25
4.81
4.24
4.07
3.85
3.06
2.66
2.34
2.05
1.83
1.68
1.67
1.52
1.41
1.29
1.01
0.95
0.85
0.83
0.78
Weighting
Change
3
5
5
5
5
3
5
5
5
5
3
#N/A N/A
5
5
5
5
5
5
3
3
5
5
5
3
3
5
3
3
1
#N/A N/A
5
5
3
5
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
Latest Chg
268'857
3'073'465
(2'678'207)
(7'038'536)
2'071'273
(11'125'745)
(7'082'507)
1'021'555
(157'367)
(2'556'616)
7'815
(1'042'061)
(5'518'017)
2'348'813
2'438'830
(272'743)
Target Price
58
62
63
67
#N/A N/A
#N/A N/A
63
60
#N/A N/A
65
#N/A N/A
65
70
63
65
57
61
63
58
60
63
#N/A N/A
63
#N/A N/A
55
65
50
56
#N/A N/A
#N/A N/A
58
63
#N/A N/A
50
File Dt
07.01.2013
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
06.02.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
30.09.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
18 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
9 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
Inst Type
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Investment Advisor
Investment Advisor
Unclassified
Government
Investment Advisor
Date
25.03.2013
25.03.2013
24.03.2013
22.03.2013
20.03.2013
15.03.2013
11.03.2013
07.03.2013
04.03.2013
28.02.2013
14.02.2013
10.02.2013
07.02.2013
07.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
06.02.2013
05.02.2013
04.02.2013
05.08.2011
06.01.2011
26.03.2013
Price/Volume
45
40.0 M
40
35.0 M
35
30.0 M
30
25.0 M
25
12/2012
12/yy
38.20
29.80
986'377.00
37.13
-2.80%
24.60%
88.21%
5'270.9
195'707.84
184'554.00
12'883.0
1'357.0
159'173.00
-
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
15.0 M
15
10
10.0 M
5.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
20.0 M
20
Valuation Analysis
31.12.2009
31.12.2010
98'636.0
93'249.0
12'275.0
12'362.0
9.78x
12.60x
Profitability
LTM-4Q
31.12.2011
87'597.0
15'869.0
9.10x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
91'247.0
18'897.0
10.08x
33.07%
33.07%
1.38%
13.16%
5.87%
0.07%
22.0%
12.97%
127.57%
-
LTM
12/yy
87'597.0
0.00x
0.0
0.00x
15'869.0
9.41x
12/yy
91'247.0
0.00x
0.0
0.00x
18'897.0
10.08x
FY+1
2.37
1.17
5'252.41
46.94
10.90%
9.41%
1.169
43
4.000
4'376'012
4'934'941
4'692'764
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
85'452.7
86'700.3
21'562.2
21'387.3
19'503.6
20'451.2
4'757.2
4'915.6
10.19x
9.54x
10.21x
10.15x
S&P Issuer Ratings
29.11.2011
A+
NEG
29.11.2011
A-1
127.6%
53.7%
0.07
9.63
-
Sales/Revenue/Turnover
16.00
120'000.0
14.00
100'000.0
12.00
80'000.0
10.00
8.00
60'000.0
6.00
40'000.0
4.00
20'000.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
BERKSHIRE HATHAWAY I
BLACKROCK
VANGUARD GROUP INC
STATE STREET
FMR LLC
CAPITAL GROUP COMPAN
VANGUARD GROUP INC
WELLINGTON MANAGEMEN
JP MORGAN
DODGE & COX
NORTHERN TRUST CORPO
DAVIS SELECTED ADVIS
BANK OF NEW YORK MEL
FRANKLIN RESOURCES
STATE FARM MUTUAL AU
T ROWE PRICE ASSOCIA
NORGES BANK
AMERIPRISE FINANCIAL
ALLIANZ ASSET MANAGE
BARROW HANLEY MEWHIN
Firm Name
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
n/a
n/a
Multiple Portfolios
WELLINGTON MANAGEMEN
n/a
DODGE & COX
NORTHERN TRUST CORPO
DAVIS SELECTED ADVIS
BANK OF NEW YORK MEL
n/a
STATE FARM MUTUAL AU
T ROWE PRICE ASSOCIA
NORGES BANK
AMERIPRISE FINANCIAL
n/a
BARROW HANLEY MEWHIN
Analyst
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
Recommendation
outperform
buy
neutral
buy
buy
overweight
buy
outperform
buy
outperform
buy
outperform
sector perform
Positive
market perform
neutral
outperform
equalweight
overweight
hold
outperform
outperform
neutral
neutral
strong buy
outperform
buy
buy
buy
neutral
market perform
market perform
sell
hold
Equalwt/Attractive
neutral/attractive
hold
outperform
hold
hold
Amt Held
439'857'861
279'195'611
212'797'298
205'898'798
196'348'826
181'298'396
131'972'089
113'152'549
101'527'825
76'436'311
73'468'045
70'577'131
66'409'453
59'620'977
55'039'014
49'227'915
43'955'116
43'201'460
40'693'759
40'654'593
% Out
8.35
5.3
4.04
3.91
3.73
3.44
2.5
2.15
1.93
1.45
1.39
1.34
1.26
1.13
1.04
0.93
0.83
0.82
0.77
0.77
Weighting
Change
5
5
3
5
5
5
5
5
5
5
5
5
3
4
3
3
5
3
5
3
5
5
3
3
5
5
5
5
5
3
3
3
1
3
3
3
3
5
3
3
M
M
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
17'308'316
4'939'319
4'783'040
8'234'624
(8'912'090)
(6'684'370)
(9'622'805)
(5'691'856)
(5'150'437)
397'475
(9'040'283)
(1'751'204)
839'129
1'010'251
1'547'537
(3'723'662)
7'554'548
290'356
Target Price
42
45
38
39
39
41
#N/A N/A
38
41
#N/A N/A
44
40
43
40
40
36
40
37
42
35
39
42
37
38
43
40
38
42
47
39
37
#N/A N/A
#N/A N/A
#N/A N/A
39
38
36
38
37
#N/A N/A
File Dt
31.12.2012
22.03.2013
31.12.2012
25.03.2013
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.01.2013
31.12.2012
Date
12 month
12 month
12 month
12 month
12 month
9 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Insurance Company
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Date
22.03.2013
22.03.2013
22.03.2013
21.03.2013
21.03.2013
18.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
15.03.2013
14.03.2013
14.03.2013
14.03.2013
13.03.2013
08.03.2013
28.02.2013
28.02.2013
27.02.2013
26.02.2013
21.02.2013
15.02.2013
14.02.2013
13.02.2013
11.02.2013
08.02.2013
05.02.2013
05.02.2013
05.02.2013
04.02.2013
27.01.2013
23.01.2013
18.01.2013
15.01.2013
14.01.2013
14.01.2013
11.01.2013
11.01.2013
04.01.2013
12.10.2012
26.03.2013
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (04.10.2012)
52-Week Low (25.06.2012)
Daily Volume
Current Price (3/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 21.02.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
WMB UN EQUITY YTD Change
WMB UN EQUITY YTD % CHANGE
12/2012
12/yy
37.56
27.26
238'937.00
37.21
-0.93%
36.50%
94.47%
681.5
25'359.83
10'736.00
0.0
2'675.0
839.00
37'931.83
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
16.0 M
35
14.0 M
30
12.0 M
25
10.0 M
20
8.0 M
15
6.0 M
10
4.0 M
2.0 M
0
m-12
a-12 m-12
j-12
j-12
a-12
s-12
o-12
n-12
d-12
j-13
.0 M
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
- Average Volume 30 Day
- Average Volume 3 Month
40
31.12.2009
31.12.2010
8'255.0
6'638.0
2.33x
3.64x
2'970.0
2'902.0
6.49x
8.32x
285.0
(1'097.0)
27.38x
27.78x
Profitability
LTM-4Q
31.12.2011
7'930.0
3.61x
3'481.0
8.23x
376.0
20.01x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Accounts Receivable Turnover
Inventory Turnover
31.12.2012
7'486.0
4.66x
2'368.0
14.72x
859.0
27.06x
2'368.00
1'612.00
21.53%
17.22%
4.21%
28.41%
9.72%
0.37%
43.2%
31.7%
21.6%
11.5%
1.24
0.99
44.13%
225.93%
11.35
29.27
LTM
12/yy
7'930.0
13.59x
3'481.0
8.23x
376.0
20.13x
12/yy
7'517.0
16.63x
2'382.0
14.64x
859.0
29.23x
FY+1
3.21
1.15
680.04
10.16
26.49%
14.80%
1.152
15
4.400
1'329'423
1'418'026
1'297'069
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
03/13 Q1 06/13 Q2
8'221.8
9'359.1
2'007.0
2'001.8
4.90x
4.36x
19.87x
19.95x
2'685.4
3'422.0
688.8
677.3
14.13x
11.09x
13.68x
13.38x
662.7
967.3
159.3
143.3
36.55x
26.00x
36.70x
33.61x
S&P Issuer Ratings
05.03.2012
BBB
STABLE
19.03.2007
NR
4.17
-0.28
4.15
4.51
225.9%
59.1%
0.37
0.54
32.26
12.51
58.49
-22.04
Sales/Revenue/Turnover
14.00
18'000.0
12.00
16'000.0
14'000.0
10.00
12'000.0
8.00
10'000.0
6.00
8'000.0
6'000.0
4.00
4'000.0
2.00
0.00
01.01.2010
2'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
26.03.2013
All
Holder Name
SOROBAN CAPITAL PART
T ROWE PRICE ASSOCIA
BLACKROCK
VANGUARD GROUP INC
STATE STREET
FMR LLC
VANGUARD GROUP INC
VIKING GLOBAL INVEST
JP MORGAN
INVESCO LTD
MORGAN STANLEY
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
KAYNE ANDERSON CAPIT
WINSLOW CAPITAL MANA
JANUS CAPITAL MANAGE
JENNISON ASSOCIATES
SUN LIFE FINANCIAL I
AMERIPRISE FINANCIAL
MACKAY SHIELDS LLC
Firm Name
Howard Weil Inc
US Capital Advisors
Wells Fargo Securities, LLC
Raymond James
Argus Research Corp
EVA Dimensions
JPMorgan
Barclays
BMO Capital Markets
Morgan Stanley
Deutsche Bank
Goldman Sachs
Tudor Pickering & Co
Portfolio Name
n/a
T ROWE PRICE ASSOCIA
n/a
VANGUARD GROUP INC
n/a
n/a
Multiple Portfolios
VIKING GLOBAL INVEST
n/a
INVESCO LTD
n/a
BANK OF NEW YORK MEL
NORTHERN TRUST CORPO
KAYNE ANDERSON CAPIT
WINSLOW CAPITAL MANA
n/a
JENNISON ASSOCIATES
n/a
AMERIPRISE FINANCIAL
Multiple Portfolios
Analyst
HOLLY STEWART
REBECCA G FOLLOWILL
SHARON LUI
DARREN HOROWITZ
GARY F HOVIS
CRAIG STERLING
JEREMY TONET
RICHARD GROSS
CARL L KIRST
STEPHEN J MARESCA
CURTIS N LAUNER
THEODORE DURBIN
BRADLEY OLSEN
Source
13G
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
MF-AGG
Recommendation
sector outperform
hold
outperform
outperform
buy
underweight
overweight
overweight
outperform
Overwt/Attractive
hold
buy/attractive
accumulate
Amt Held
67'317'856
37'975'558
33'081'489
31'333'010
29'554'698
29'388'541
19'974'844
19'444'793
18'475'691
14'042'214
13'123'323
10'684'234
10'393'996
9'829'263
9'556'049
8'451'681
6'943'029
6'427'059
6'076'774
6'007'208
% Out
9.88
5.57
4.85
4.6
4.34
4.31
2.93
2.85
2.71
2.06
1.93
1.57
1.53
1.44
1.4
1.24
1.02
0.94
0.89
0.88
Weighting
Change
5
3
5
5
5
1
5
5
5
5
3
5
4
M
M
M
M
M
D
M
M
M
M
M
M
D
Latest Chg
57'621'882
543'760
2'805'661
2'708'221
2'002'021
(758'359)
4'056'941
3'309'173
1'341'306
3'049'953
250'379
696'790
37'513
9'556'049
469'600
(607'665)
(2'116'350)
336'455
(5'741)
Target Price
38
35
#N/A N/A
38
39
#N/A N/A
40
39
38
42
36
45
37
File Dt
Inst Type
13.03.2013 Hedge Fund Manager
31.12.2012
Investment Advisor
22.03.2013
Investment Advisor
31.12.2012
Investment Advisor
25.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Unclassified
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012 Hedge Fund Manager
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.12.2012
Investment Advisor
31.01.2013
Investment Advisor
Date
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
9 month
Not Provided
Not Provided
12 month
12 month
12 month
Not Provided
Date
25.03.2013
22.03.2013
08.03.2013
06.03.2013
05.03.2013
05.03.2013
22.02.2013
21.02.2013
20.02.2013
12.12.2012
08.11.2012
05.11.2012
19.10.2012