| 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 | 13 203 | 16 091 | 18 260 | 18 953 | 20 023 | 21 535 | | Operating income (EBITDA) | 2 625 | 3 440 | 4 005 | 4 166 | 4 511 | 4 931 | | Operating profit (EBIT) | 2 228 | 2 805 | 3 165 | 3 301 | 3 656 | 4 025 | | Pre-Tax Profit (EBT) | - | - | 3 011 | 3 275 | 3 588 | 4 046 | | Net income | 1 793 | 2 172 | 2 392 | 2 497 | 2 732 | 3 079 | | EPS ( $) | 2,64 | 3,11 | 3,36 | 3,57 | 3,88 | 4,30 | | Dividend per Share ( $) | 0,10 | 0,09 | 0,10 | 0,10 | 0,12 | 0,14 | | Yield | 0,16% | 0,14% | 0,16% | 0,17% | 0,19% | 0,22% | | Announcement Date | 01/27/2011 11:00am | 01/31/2012 11:00am | 01/29/2013 11:00am | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 1 192 | 4 768 | 3 664 | 1 053 | - | - | | Finance | - | - | - | - | 2 011 | 4 959 | | Operating income (EBITDA) | 2 625 | 3 440 | 4 005 | 4 166 | 4 511 | 4 931 | Leverage (Debt/EBITDA) | 0,45x | 1,39x | 0,91x | 0,25x | - | - | | Capital Expenditure | 217 | 334 | 458 | 493 | 519 | 560 | | Book Value Per Share (BVPS) | 20,9 $ | 24,6 $ | 27,7 $ | 30,3 $ | 34,6 $ | 38,9 $ | | Cash Flow per Share | 3,05 $ | 3,90 $ | 4,91 $ | 4,68 $ | 5,10 $ | 5,58 $ | | Announcement Date | 01/27/2011 11:00am | 01/31/2012 11:00am | 01/29/2013 11:00am | - | - | - |
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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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17,4x |
16,0x |
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Capitalization / Revenue
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2,27x |
2,15x |
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EV / Revenue
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2,33x |
2,05x |
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EV / EBITDA
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10,6x |
9,09x |
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Yield (DPS / Price)
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0,17% |
0,19% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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17,4% |
18,3% |
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operating laverage (Delta EBIT / Delta Sales)
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1,13x |
1,90x |
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Net Margin (Net Profit / Revenue)
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13,2% |
13,6% |
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ROA (Net Profit / Asset)
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8,04% |
8,53% |
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ROE (Net Profit / Equities)
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11,9% |
12,0% |
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Rate of Dividend
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2,89% |
3,00% |
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