| 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 | 12 515 | 13 378 | 13 649 | 14 026 | 14 462 | 15 201 | | Operating income (EBITDA) | 3 345 | 3 303 | 3 368 | 3 411 | 3 614 | 3 829 | | Operating profit (EBIT) | 2 151 | 2 074 | 2 071 | 2 123 | 2 287 | 2 662 | | Pre-Tax Profit (EBT) | - | - | 1 303 | - | - | - | | Net income | 953 | 961 | 817 | 986 | 1 096 | - | | EPS ( $) | 1,98 | 2,04 | 1,76 | 2,11 | 2,37 | 2,60 | | Dividend per Share ( $) | 1,26 | 1,36 | 1,42 | 1,46 | 1,50 | 1,61 | | Yield | 2,98% | 3,21% | 3,36% | 3,45% | 3,55% | 3,80% | | Announcement Date | 02/17/2011 12:30pm | 02/16/2012 12:30pm | 02/14/2013 12:30pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 8 368 | 9 498 | 9 722 | 9 491 | 9 513 | 9 890 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 3 345 | 3 303 | 3 368 | 3 411 | 3 614 | 3 829 | Leverage (Debt/EBITDA) | 2,50x | 2,88x | 2,89x | 2,78x | 2,63x | 2,58x | | Capital Expenditure | 1 104 | 1 324 | 1 510 | 1 354 | 1 425 | 1 486 | | Book Value Per Share (BVPS) | 13,2 $ | 13,2 $ | 13,7 $ | 14,5 $ | 15,4 $ | - | | Cash Flow per Share | 4,72 $ | 5,24 $ | 4,94 $ | 5,41 $ | - | - | | Announcement Date | 02/17/2011 12:30pm | 02/16/2012 12:30pm | 02/14/2013 12:30pm | - | - | - |
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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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20,1x |
17,8x |
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Capitalization / Revenue
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1,41x |
1,37x |
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EV / Revenue
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2,09x |
2,02x |
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EV / EBITDA
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8,58x |
8,10x |
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Yield (DPS / Price)
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3,45% |
3,55% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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15,1% |
15,8% |
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operating laverage (Delta EBIT / Delta Sales)
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0,92x |
2,48x |
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Net Margin (Net Profit / Revenue)
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7,03% |
7,58% |
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ROA (Net Profit / Asset)
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4,20% |
4,90% |
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ROE (Net Profit / Equities)
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15,0% |
16,8% |
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Rate of Dividend
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69,3% |
63,4% |
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