| 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 | 13 056 | 13 893 | 14 190 | 15 550 | 17 070 | 17 782 | | Operating income (EBITDA) | 3 728 | 3 928 | 3 867 | 4 198 | 4 731 | 5 003 | | Operating profit (EBIT) | 3 043 | 3 258 | 3 155 | 3 411 | 3 844 | 4 134 | | Pre-Tax Profit (EBT) | - | - | 2 889 | - | - | - | | Net income | 1 420 | 2 224 | 2 326 | 2 518 | 2 821 | 3 052 | | EPS ( $) | 2,39 | 3,88 | 4,18 | 4,57 | 5,20 | 5,70 | | Dividend per Share ( $) | 1,18 | 1,27 | 1,57 | 1,81 | 1,92 | 2,07 | | Yield | 1,69% | 1,82% | 2,25% | 2,60% | 2,75% | 2,96% | | Announcement Date | 01/27/2011 12:00pm | 01/26/2012 12:00pm | 01/24/2013 12:05pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 1 702 | 2 290 | 2 660 | 6 067 | 4 032 | 2 969 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 3 728 | 3 928 | 3 867 | 4 198 | 4 731 | 5 003 | Leverage (Debt/EBITDA) | 0,46x | 0,58x | 0,69x | 1,45x | 0,85x | 0,59x | | Capital Expenditure | 963 | 960 | 1 161 | 1 614 | 1 626 | 1 451 | | Book Value Per Share (BVPS) | 11,3 $ | 11,7 $ | 12,7 $ | 15,1 $ | 18,2 $ | 21,4 $ | | Cash Flow per Share | 5,06 $ | 4,92 $ | 5,59 $ | 5,08 $ | 6,27 $ | 7,41 $ | | Announcement Date | 01/27/2011 12:00pm | 01/26/2012 12:00pm | 01/24/2013 12:05pm | - | - | - |
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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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15,3x |
13,4x |
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Capitalization / Revenue
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2,43x |
2,21x |
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EV / Revenue
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2,82x |
2,45x |
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EV / EBITDA
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10,5x |
8,84x |
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Yield (DPS / Price)
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2,60% |
2,75% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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21,9% |
22,5% |
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operating laverage (Delta EBIT / Delta Sales)
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0,85x |
1,30x |
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Net Margin (Net Profit / Revenue)
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16,2% |
16,5% |
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ROA (Net Profit / Asset)
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11,5% |
11,5% |
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ROE (Net Profit / Equities)
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32,8% |
30,3% |
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Rate of Dividend
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39,7% |
37,0% |
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