| Income Statement Evolution | |
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| Annual Income Statement Data |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Sales | 26 662 | 29 611 | 29 904 | 31 042 | 32 735 | 34 408 | | Operating income (EBITDA) | 7 038 | 7 414 | 7 771 | 8 147 | 8 717 | 9 347 | | Operating profit (EBIT) | 5 918 | 6 178 | 6 483 | 6 847 | 7 385 | 7 909 | | Pre-Tax Profit (EBT) | - | - | 6 351 | - | - | - | | Net income | 4 085 | 4 283 | 4 444 | 4 689 | 5 103 | 5 627 | | EPS ( $) | 5,63 | 5,96 | 6,32 | 6,71 | 7,38 | 8,21 | | Dividend per Share ( $) | 2,10 | 2,20 | 2,36 | 2,54 | 2,74 | 2,78 | | Yield | 1,88% | 1,97% | 2,12% | 2,28% | 2,46% | 2,49% | | Announcement Date | 01/25/2011 12:30pm | 01/26/2012 12:31pm | 01/24/2013 12:30pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 974 | 1 486 | 3 232 | 1 582 | 234 | - | | Finance | - | - | - | - | - | 3 408 | | Operating income (EBITDA) | 7 038 | 7 414 | 7 771 | 8 147 | 8 717 | 9 347 | Leverage (Debt/EBITDA) | 0,14x | 0,20x | 0,42x | 0,19x | 0,03x | - | | Capital Expenditure | 1 091 | 1 379 | 1 484 | 1 605 | 1 496 | 1 545 | | Book Value Per Share (BVPS) | 22,5 $ | 22,8 $ | 26,3 $ | 27,9 $ | 31,2 $ | 34,9 $ | | Cash Flow per Share | 7,13 $ | 7,35 $ | 7,54 $ | 8,23 $ | 9,21 $ | 10,7 $ | | Announcement Date | 01/25/2011 12:30pm | 01/26/2012 12:31pm | 01/24/2013 12:30pm | - | - | - |
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Assessed data source : © 2013 Thomson Reuters |
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Valuation |
2013e |
2014e |
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PER (Price / EPS)
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16,6x |
15,1x |
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Capitalization / Revenue
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2,48x |
2,35x |
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EV / Revenue
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2,53x |
2,36x |
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EV / EBITDA
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9,65x |
8,86x |
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Yield (DPS / Price)
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2,28% |
2,46% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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22,1% |
22,6% |
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operating laverage (Delta EBIT / Delta Sales)
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1,48x |
1,44x |
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Net Margin (Net Profit / Revenue)
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15,1% |
15,6% |
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ROA (Net Profit / Asset)
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14,4% |
15,2% |
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ROE (Net Profit / Equities)
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25,0% |
24,7% |
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Rate of Dividend
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37,8% |
37,2% |
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