| 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 | 99 870 | 106 916 | 104 507 | 103 517 | 106 135 | 109 760 | | Operating income (EBITDA) | 24 135 | 25 679 | 26 383 | 27 885 | 29 843 | 31 639 | | Operating profit (EBIT) | 19 035 | 20 864 | 21 707 | 23 783 | 25 363 | 26 784 | | Pre-Tax Profit (EBT) | - | 21 003 | 21 902 | - | - | - | | Net income | 14 833 | 15 855 | 16 604 | 17 368 | 18 444 | 20 070 | | EPS ( $) | 11,5 | 13,1 | 14,4 | 15,7 | 17,4 | 19,5 | | Dividend per Share ( $) | 2,50 | 2,90 | 3,30 | 3,49 | 3,81 | 3,98 | | Yield | 1,21% | 1,41% | 1,60% | 1,69% | 1,85% | 1,93% | | Announcement Date | 01/18/2011 09:10pm | 01/19/2012 09:04pm | 01/22/2013 09:06pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 16 973 | 19 398 | 22 140 | 22 810 | 21 869 | 21 010 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 24 135 | 25 679 | 26 383 | 27 885 | 29 843 | 31 639 | Leverage (Debt/EBITDA) | 0,70x | 0,76x | 0,84x | 0,82x | 0,73x | 0,66x | | Capital Expenditure | 3 984 | 4 108 | 4 082 | 3 860 | 4 011 | 4 249 | | Book Value Per Share (BVPS) | 18,8 $ | 17,3 $ | 16,9 $ | 23,2 $ | 29,4 $ | 34,7 $ | | Cash Flow per Share | 15,8 $ | 16,4 $ | 17,0 $ | 20,2 $ | 22,4 $ | 24,4 $ | | Announcement Date | 01/18/2011 09:10pm | 01/19/2012 09:04pm | 01/22/2013 09:06pm | - | - | - |
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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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13,1x |
11,8x |
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Capitalization / Revenue
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2,21x |
2,15x |
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EV / Revenue
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2,43x |
2,36x |
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EV / EBITDA
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9,02x |
8,39x |
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Yield (DPS / Price)
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1,69% |
1,85% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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23,0% |
23,9% |
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operating laverage (Delta EBIT / Delta Sales)
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- |
2,63x |
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Net Margin (Net Profit / Revenue)
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16,8% |
17,4% |
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ROA (Net Profit / Asset)
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15,3% |
15,3% |
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ROE (Net Profit / Equities)
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86,7% |
81,1% |
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Rate of Dividend
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22,2% |
21,9% |
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