| 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 | 15 564 | 16 734 | 17 085 | 17 722 | 18 692 | 19 806 | | Operating income (EBITDA) | 4 172 | 4 279 | 4 448 | 4 612 | 5 007 | 5 379 | | Operating profit (EBIT) | 3 796 | 3 858 | 4 023 | 4 206 | 4 553 | 4 915 | | Pre-Tax Profit (EBT) | - | - | 3 874 | - | - | - | | Net income | 2 203 | 2 431 | 2 472 | 2 504 | 2 818 | 3 102 | | EPS ( $) | 2,16 | 2,47 | 2,58 | 2,44 | 2,76 | 3,05 | | Dividend per Share ( $) | 1,02 | 1,14 | 1,22 | 1,21 | 1,27 | 1,41 | | Yield | 1,65% | 1,84% | 1,98% | 1,96% | 2,06% | 2,28% | | Announcement Date | 01/27/2011 12:00pm | 01/26/2012 12:00pm | 01/31/2013 12:00pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 2 860 | 3 932 | 4 346 | 4 781 | 4 855 | 5 336 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 4 172 | 4 279 | 4 448 | 4 612 | 5 007 | 5 379 | Leverage (Debt/EBITDA) | 0,69x | 0,92x | 0,98x | 1,04x | 0,97x | 0,99x | | Capital Expenditure | 550 | 537 | 565 | 620 | 654 | 704 | | Book Value Per Share (BVPS) | 1,83 $ | 1,62 $ | 2,60 $ | 1,36 $ | 1,14 $ | 0,83 $ | | Cash Flow per Share | 3,14 $ | 2,95 $ | 3,33 $ | 3,37 $ | 3,29 $ | 3,38 $ | | Announcement Date | 01/27/2011 12:00pm | 01/26/2012 12:00pm | 01/31/2013 12:00pm | - | - | - |
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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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25,3x |
22,3x |
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Capitalization / Revenue
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3,24x |
3,07x |
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EV / Revenue
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3,51x |
3,33x |
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EV / EBITDA
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13,5x |
12,4x |
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Yield (DPS / Price)
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1,96% |
2,06% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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23,7% |
24,4% |
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operating laverage (Delta EBIT / Delta Sales)
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1,22x |
1,50x |
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Net Margin (Net Profit / Revenue)
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14,1% |
15,1% |
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ROA (Net Profit / Asset)
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19,6% |
21,1% |
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ROE (Net Profit / Equities)
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134% |
133% |
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Rate of Dividend
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49,6% |
45,8% |
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