| 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 | 19 746 | 20 846 | 21 063 | 21 365 | 22 071 | 22 863 | | Operating income (EBITDA) | 3 684 | 3 980 | 3 977 | 4 203 | 4 413 | 4 559 | | Operating profit (EBIT) | 2 871 | 2 889 | 3 120 | 3 314 | 3 483 | 3 660 | | Pre-Tax Profit (EBT) | - | - | 2 420 | - | - | - | | Net income | 1 843 | 1 591 | 1 750 | 2 156 | 2 321 | 2 469 | | EPS ( $) | 4,45 | 3,99 | 4,42 | 5,52 | 6,07 | 6,54 | | Dividend per Share ( $) | 2,64 | 2,80 | 2,96 | 3,21 | 3,40 | 3,73 | | Yield | 2,57% | 2,72% | 2,88% | 3,12% | 3,30% | 3,63% | | Announcement Date | 01/25/2011 12:31pm | 01/24/2012 12:30pm | 01/25/2013 12:17pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 4 588 | 5 368 | 5 079 | 5 293 | 5 374 | 6 064 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 3 684 | 3 980 | 3 977 | 4 203 | 4 413 | 4 559 | Leverage (Debt/EBITDA) | 1,25x | 1,35x | 1,28x | 1,26x | 1,22x | 1,33x | | Capital Expenditure | 964 | 968 | 1 093 | 1 077 | 1 088 | 1 114 | | Book Value Per Share (BVPS) | 14,5 $ | 13,3 $ | 12,8 $ | 13,4 $ | 13,4 $ | 14,3 $ | | Cash Flow per Share | 6,62 $ | 5,74 $ | 8,30 $ | 7,93 $ | 8,49 $ | 9,06 $ | | Announcement Date | 01/25/2011 12:31pm | 01/24/2012 12:30pm | 01/25/2013 12:17pm | - | - | - |
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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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18,6x |
16,9x |
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Capitalization / Revenue
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1,85x |
1,79x |
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EV / Revenue
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2,10x |
2,04x |
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EV / EBITDA
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10,7x |
10,2x |
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Yield (DPS / Price)
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3,12% |
3,30% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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15,5% |
15,8% |
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operating laverage (Delta EBIT / Delta Sales)
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4,33x |
1,54x |
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Net Margin (Net Profit / Revenue)
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10,1% |
10,5% |
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ROA (Net Profit / Asset)
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11,3% |
11,8% |
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ROE (Net Profit / Equities)
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43,3% |
46,0% |
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Rate of Dividend
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58,1% |
55,9% |
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