dividend idea research study western union (nyse:wu) by

7/31/2019 Dividend Idea Research Study Western Union (NYSE:WU) By http://long-term-investments.blogspot.com

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The Dividend Idea(A Snapshot of a ttrac tive Dividend Stoc ks)- By Dividend Yield - Stock, Capital, Investment-

44/2012(2012-11-03)
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The Dividend Idea- By Dividend Yield - Stock, Capital, Investment-

By Dividend Yield - Stock, Capital, Investment

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Content:

1. Summary

2. Price Facts

3. Long-Term Price Ratios And Margins

4. Income Statement

5. Balance Sheet6. Cash Flow Statement

7. Peer-Fact Sheet
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Co m p a n y Su m m a r y :The Western Union Company (Western Union) is engaged in money move-ment and payment services. The Companys business payments service pro-

vides consumers and businesses with options for making one-time or recur-ring bill payments, including business-to-business payment transactions,which are primarily cross-border, cross currency transactions. Its segmentsare consumer-to-consumer and global business payments. Its other busi-nesses not included in these segments primarily consist of Western Unionmoney order and prepaid services available through a network of third-partyagents. In April 2011, the Company acquired Angelo Costa, S.r.l. In August2011, the Company formed Western Union Ventures. In October 2011, theCompany acquired Finint S.r.l. In November 2011, the Company acquired thebusiness-to-business payment business of Travelex Holdings Limited, knownas Travelex Global Business Payments.

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2002 -12 2004-12 2006 -12 2008-12 2010-12 TTM

Sharesinmillion

EPSDatai

nUSD

Ear n ings Per Shar e USD Dividends USD Shar es M il


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1 2 / 1 112 / 091 2 / 0 71 2 / 0 51 2 / 0 3

AVG P/ E PRICE/ SALES PRICE/ BOOK

Price Fact s NYSE:W U

Stock Price Est im ated Value* Potent ial Rat ing Points* *

11.95 25.00 109.21% 10/ 10

Size Category Sector Indust ry

M id Cap Grow t h Financial Business Services

Value Services

Dividend Challenger

P/ E 6.13 # Yrs Dividend Grow t h 5

Fw d P/ E 6.26 Dividend Grow t h Rat e 1Y 25.00%

P/ S 1.27 Dividend Grow t h Rat e 3Y 27.78%

P/ B 6.87 Dividend Grow t h Rat e 5Y 25.59%

Dividend Yie ld 4.18% Dividend Grow t h Rat e 10Y N/ A

PEG 0.9 EPS Last 10 Years 11.39

PEG Payback 4.3 Dividends Paid Past 10Y 0.71

EV/ EBITDA 5.42 Payout 19.0%

M arke t Cap i t al i zat ion 7.2B Cash M RQ 1.43B

EBITDA TTM 1.69B Debt M RQ 3.43B

* Es ti m a t ed By M o rn i ngst a r * * Ra t ed By St o ckSco u t er
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2002-12 2004 -12 2006 -12 2008-12 2010-12 TTM

Gr oss M ar gin % Oper at ing M ar gin %Retu r n on Equ ity % Retu r n on Invested Cap ital %

Margin

Year AVG

P/ E

PRICE/

SALES

PRICE/

BOOK

BOOK

VALUE

DEBT/

EQUITY

Operat ing

Margin in %

Net Prof i t

in %

ROE i n % ROA in %

12/ 11 10.3 2.11 12.64 0.89 5.65 25.20 21.20 157.75 11.50

12/ 10 12.6 2.39 20.84 0.51 8.62 25.00 17.50 194.38 11.50

12/ 09 13.7 2.6 36.61 -0.01 -388.09 25.20 16.70 491.49 16.50

12/ 08 17.2 2 -1256.25 0.07 65.84 25.70 17.40 0.00 14.80

12/ 07 19.4 3.83 359.08 -0.41 -10.56 27.00 17.50 0.00 17.00

12/ 06 17.9 3.85 -54.92 3.67 0.06 29.30 20.40 73.21 20.00

12/ 05 NA NA NA 2.53 0.01 31.80 23.30 32.98 22.2012/ 04 NA NA NA 0 0 0.00 21.20 0.00 0.00

12/ 03 NA NA 0 0 0 0.00 20.10 0.00 0.00

12/ 02 0 0 0 0 0 30.00 0.00 35.12 0.00

Average 13.01 2.40 -110.25 0.73 -31.85 21.92 17.53 98.49 11.35


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2002-12 2004-12 2006 -12 2008-12 2010-12 TTM

Revenue USD M il Oper at ing Incom e USD M ilNet Incom e USD M il

Income Statement

Fisca l year end s in Decemb er . USD in m i l l io ns except pe r share data .

2007- 12 2008- 12 2009- 12 2010- 12 2011- 12

Re ve n u e 4,900 5,282 5,084 5,193 5,491

Ot h e r e xp e n se s 770 834 926 914 1,004

To t al o p e rat i n g e xp e n se s 770 834 926 914 1,004

Op e rat in g i n co m e 4,130 4,448 4,158 4,278 4,487

In t e re st e xp e n se 189 171 158 170 182

Ot h e r i n co m e (e xp e n se ) 89 55 7 15 72

To t al n o n o p e rat i n g i n co m e , n e t -100 -116 -151 -155 -110In co m e b e f o re t axe s 4,031 4,332 4,006 4,124 4,377

Pro visio n f o r i n co m e t axe s 365 320 283 235 109

Ot h e r i n co m e (e xp e n se ) -2,808 -3,093 -2,875 -2,978 -3,102

N e t i n co m e 857 919 849 910 1,165

N e t i n co m e avai l ab le t o co m m o n sh are h o ld e rs 857 919 849 910 1,165

Basic 1.13 1.26 1.21 1.37 1.85

Di lu t e d 1.11 1.24 1.21 1.36 1.84

Basic 760 730 699 666 631

Di lu t e d 773 738 701 669 634


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2002 -12 2004 -12 2006-12 2008-12 2010-12 TTM

Assetsin%

ofBala

nceSheet

Cash & Sh or t -Te rm In ve st me nt s In tan gib le s

Shor t -Ter m Debt Long-Ter m DebtTot al Sto ckho lde rs' Equ ity

Balance SheetFiscal year ends in Decem ber. USD in m il l io ns except pe r share data.

2007-12 2008-12 2009-12 2010-12 2011-12

Cash and cash equ ivalent s 1,997 1,296 1,685 2,157 2,083

Rece ivab les 944 1,104 131 64 1,047

Propert y and equipm ent 200 192 204 196 198

Goodw i l l 1,640 1,674 2,143 2,152 3,199

Ot her i n t angib le asse t s 334 351 489 438 847

Ot her asse t s 669 962 2,613 2,836 1,654

Tot al asse t s 5,784 5,578 7,353 7,929 9,070

Payab les and accrued expenses 350 767 1,020 877 837

Taxes payab le 0 382 519 357 302Long-t erm deb t 2,500 3,144 3,048 3,290 3,583

Def e rred t axes 264 270 269 290 390

Ot her l iab i l i t ies 1,782 1,024 2,143 2,533 3,062

Tot al l iab i l i t ies 5,734 5,586 7,000 7,346 8,175

St ockho lders' equ i t y 0 0 0 0 0

Com m on st ock 8 7 7 6 6

Add i t ional paid -in capi t al -341 -14 41 117 247

Ret ained earn ings 453 29 433 592 760

Accum ulat ed o t her com prehensive incom e -69 -30 -127 -133 -118

Tot al st ockholders' equi t y 51 -8 354 583 895

Tot al l iab i l i t ies and st ockho lders' equ i t y 5,784 5,578 7,353 7,929 9,070


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2002-12 2004-12 2006 -12 2008-12 2010-12 TTM

O p er at in g Cash Flo w U SD M i l Cap Sp e nd in g USD M i lFr ee Cash Flow USD M il

Cash Flow St atem entFiscal year ends in Decem ber. USD in m ill ion s except per share data.

2007-12 2008-12 2009-12 2010-12 2011-12

Net incom e 857 919 849 910 1,165

Depreciat ion & am ort izat ion 124 144 154 176 193

Net cash provided by operat ing act ivi t ies 1,104 1,254 1,218 994 1,175

Net cash used f or invest ing act iv i t ies -202 -454 -324 -65 -1,360

Debt issued 0 500 497 247 993

Debt repaym ent 0 -755 -583 0 -696

Repurchases o f t reasury st ock -727 -1,314 -400 -581 -804Dividend paid -30 -28 -41 -165 -194

Ot her f inancing act iv i t ies 11 300 23 42 100

Net cash provided by (used f or) f inancing act ivi t i -530 -1,298 -504 -458 -601

Net change in cash 371 -498 390 472 -786

Cash at beginn ing o f period 1,422 1,793 1,296 1,685 2,157

Cash at end of period 1,793 1,296 1,685 2,157 1,371

Operat ing cash f low 1,104 1,254 1,218 994 1,175

Capi t al expendi t ure -192 -71 -99 -114 -162

Free cash f low 911 1,183 1,119 881 1,012

Cash paid f o r incom e t axes 0 230 163 365 145

Cash paid f o r in t erest 0 172 150 176 191


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Com pany Ticker M cap P/ E P/ B P/ S Yie ldVisa, Inc. V 116.32B 141.98 4.44 11.55 0.92%

Am erican Express Com pany AXP 63.63B 13.13 3.35 1.9 1.41%

eBay Inc. EBAY 63.00B 16.62 3.17 4.68 -

M ast ercard Incorporat ed M A 58.59B 28.06 9.36 8.22 0.26%

Fiserv, Inc. FISV 10.21B 18.35 3.14 2.3 -

Fleet Cor Techno logies, Inc. FLT 3.97B 23.02 4.21 6.69 -

Global Paym en t s Inc. GPN 3.41B 20.03 2.97 1.52 0.18%

W right Express Corp . W XS 2.75B 20.59 3.64 4.7 -

Cash Am e ri ca In te rn at io nal , In c. CSH 1.14B 10.24 1.16 0.64 0.36%He art lan d Paym en t Syst em s, In c. HPY 1.10B 20.68 4.68 0.55 0.85%


10/10

The Dividend Idea

- By Dividend Yield - Stock, Cap ita l, Investment-
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dividend idea research study western union (nyse:wu) by

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