Download - Good Possibility Stocks

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Filename: 2013-10-16-16-13.xls

VAR Medical Instruments & Supplies

Key Statistics:

Price ($) 78.87

Market Cap ($ Million) 8490.6Shares Outstanding ($ Million 107.65

P/E 19.8

P/B 5.1

P/S 3

Growth Rates:

Annual Rates (per share) 10 yrs 5 yrs 12 months

Revenue Growth (%) 13.9 11.2 9

EBITDA Growth (%) 15.1 13.1 9.3

Free Cash Flow Growth (%) 12.9 17.2 9.5

Book Value Growth (%) 14.4 10.6 18.2

10 Year Financials of VAR - Varian Medical Systems, Inc.

All Numbers are in Millions except per share data and ratios

Annual Data:

Fiscal Period End Sep-03 Sep-04 Sep-05 Sep-06 Sep-07 Sep-08 Sep-09

== Per Share Data =======

Revenue Per Share ($) 7.65 9.08 10.44 12.2 13.78 16.58 17.85

EPS ($) 0.92 1.18 1.5 1.81 1.83 2.19 2.55Tangibles book per share 3.7 3.76 4.06 5.16 4.83 6.55 8.88

EBITDA per Share ($) 1.62 2.09 2.52 2.59 2.91 3.65 4.18

Per Share FCF ($) 1.4 1.54 1.57 1.22 1.85 2.33 1.95

Book Value ($) 4.14 4.59 4.98 6.09 6.45 8.23 10.58

Debt to Equity (%) 0.104 0.094 0.091 0.072 0.11 0.039 0.028

Shares Outstanding 136.112 136.036 132.435 130.964 127.407 124.8 124.034

ROE (%) 23.1 26.9 31.3 30.7 29.2 27.2 24.3

ROA (%) 12.4 14.2 15.7 16.2 14.2 14.1 13.8

ROC (%) 13 15.4 16.5 17.3 16.1 15.2 14.8

ROC (%) 127.7 148.4 144 108.8 100.5 95 85.6

Dividend Payout (%) 0 0 0 0 0 0 0Gross Margin (%) 40.4 41.9 42.9 41.5 41.8 42.4 43.4

Operating Margin (%) 19 20.8 22.1 19.4 19.3 20.3 21.4

Pre-Tax Margin (%) 19.3 20.9 22.3 19.9 19.7 20.6 21.4

Net Margin (%) 12.5 13.6 14.9 15.3 13.6 13.5 14.4

COGS to Revenue 0.6 0.58 0.57 0.58 0.58 0.58 0.57

Inventory to Revenue 0.112 0.117 0.119 0.119 0.133 0.137 0.145

Interest Exp. to Revenue) -0.421 -0.378 -0.34 -0.291 -0.273 -0.236 -0.185

Debt to Revenue 0.056 0.047 0.043 0.036 0.051 0.02 0.017


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Accts Rec. to Asset 0.239 0.244 0.267 0.312 0.301 0.246 0.252

Days Sales Outstanding 88.4 85.3 92.9 107.8 105.4 85.8 95.8

Days Inventory 68.7 73.5 76.2 74.1 83.5 86.6 93.7

Inventory Turnover 5.3 5 4.8 4.9 4.4 4.2 3.9

Cash & Equiv. to Asset 0.306 0.298 0.287 0.242 0.156 0.201 0.24

Net PPE to Asset 0.077 0.072 0.087 0.086 0.102 0.11 0.114

Equity to Asset 0.535 0.529 0.5 0.527 0.488 0.52 0.568Tanbile Equity to Total Liabilit 1.028 0.919 0.817 0.946 0.714 0.863 1.105

Current Liabilities to Asset 0.389 0.391 0.413 0.426 0.464 0.396 0.365

Long Term Debt to Asset 0.056 0.045 0.044 0.033 0.024 0.016 0.01

Asset Turnover 0.989 1.046 1.049 1.057 1.042 1.048 0.959

== Income Statement =======

Revenue 1041.557 1235.523 1382.557 1597.82 1755.072 2069.73 2214.06

Cost of Goods Sold ($Mil) 620.464 717.354 789.536 934.493 1022.209 1192.198 1253.555

Gross Profit ($Mil) 421.093 518.169 593.021 663.327 732.863 877.532 960.505

SGA ($Mil) 164.38 189.378 205.982 253.563 276.918 322.529 338.984

R&D ($Mil) 59.176 72.106 82.063 100.408 117.32 135.599 147.375

DDA ($Mil) 22.728 27.089 28.651 29.576 32.206 36.709 44.609

EBITDA ($Mil) 220.265 283.774 333.627 338.932 370.831 456.113 518.755

Operating Income ($Mil) 197.537 256.685 304.976 309.356 338.625 419.404 474.146

Non Operating Income ($Mil) 3.018 1.302 3.35 9.326 7.374 6.619 0

Interest Expense ($Mil) -4.383 -4.668 -4.698 -4.648 -4.791 -4.879 -4.097

Pretax Income ($Mil) 200.555 257.987 308.326 318.682 345.999 426.023 474.643

Net Income ($Mil) 130.355 167.687 206.576 245.091 239.456 279.484 319.022

Preferred Dividends ($Mil) 0 0 0 0 0 0 0

Dividends Per Share ($) 0 0 0 0 0 0 0

== Balance Sheet =======

Cash and Short Term Investm 322.576 351.948 378.442 366.107 263.246 397.306 553.529Account Receivable ($Mil) 252.265 288.663 351.899 471.82 507.04 486.31 580.918

Inventory ($Mil) 116.815 144.389 164.873 189.653 233.743 282.98 321.861

Other Current Assets ($Mil) 113.868 110.584 121.681 128.469 156.2 227.805 216.143

Total Current Assets ($Mil) 805.524 895.584 1016.895 1156.049 1160.229 1394.401 1672.451

Net PP&E ($Mil) 81.172 85.377 114.54 130.318 171.654 218.183 264.06

Intangibles ($Mil) 59.979 112.653 121.389 121.389 205.553 209.146 210.346

Other Long-Term Assets ($Mil 106.812 87.026 64.578 103.995 146.939 153.782 161.391

Investment for Property, Plan -18.888 -24.218 -43.865 -41.412 -64.135 -81.424 -62.562

Total Assets ($Mil) 1053.487 1180.64 1317.402 1511.751 1684.375 1975.512 2308.248

Accounts Payable ($Mil) 287.575 293.212 329.001 343.735 384.952 358.196 420.495

Cash Flow from Acquisitions -0.135 -71.77 -12.372 0 -52.374 -2.092 -2.55Other Financing 0 13.457 0 43.869 7.823 40.71 6.195

Current Portion of Long-Term 0 5.25 2.689 7.954 49.97 7.987 13.45

Common Stock ($Mil) 67.971 134.045 130.715 129.721 125.215 125.59 125.281

Additional Paid-In Capital 159.539 133.985 152.263 265.214 311.411 468.384 516.478

Other Current Liab. ($Mil) 121.841 162.877 212.243 292.267 346.765 415.494 408.375

Total Current Liabilities ($Mil) 409.416 461.339 543.933 643.956 781.687 781.677 842.32

Long-Term Debt ($Mil) 58.5 53.25 57.318 49.356 40.386 32.399 23.394

Other Long-Term Liab. ($Mil) 21.895 41.889 57.124 21.186 40.847 134.251 130.751


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Total Liabilities ($Mil) 489.811 556.478 658.375 714.498 862.92 948.327 996.465

Capital Surplus ($Mil) 0 0 0 0 0 0 0

Preferred Stock ($Mil) 0 0 0 0 0 0 0

Retained Earnings ($Mil) 341.863 357.242 383.667 406.849 395.742 451.439 696.409

Treasury Stock ($Mil) 0 0 0 0 0 0 0

Total Equity ($Mil) 563.676 624.162 659.027 797.253 821.455 1027.185 1311.783

== Cash Flow Statement =======Net Income ($Mil) 130.355 167.687 206.576 245.091 239.456 279.484 319.022

DDA ($Mil) 22.728 27.089 28.651 29.576 32.206 36.709 44.609

Cash Flow from Disc. Op. ($M 0 0 0 0 0 0 0

Cash Flow Others ($Mil) 20.058 37.303 25.478 43.069 43.046 47.727 50.799

Cash Flow from Operations ($ 209.799 233.91 251.797 201.758 300.193 372.227 304.433

Cash Flow from CPEX ($Mil) -19.023 -95.988 -56.237 -41.412 -116.509 -83.516 -65.112

Cash Flow from Investing ($M -121.047 -35.751 51.76 -11.487 -55.658 -87.585 -77.906

Cashflow Net Issuance of Sto -68.445 -155.708 -188.996 -196.921 -274.796 -132.815 -73.66

Cashflow Issuance of Debt ($ -0.058 0 -5.34 -2.697 26.453 -49.971 -3.816

Cashflow Net Issuance of Pref 0 0 0 0 0 0 0

Cashflow from Dividends ($M 0 0 0 0 0 0 0

Cashflow from Financing ($Mi -68.503 -142.251 -194.336 -155.749 -240.52 -142.076 -71.281

Net Change in Cash ($Mil) 13.237 53.221 110.216 29.422 -9.262 134.06 156.223

Free Cash Flow ($Mil) 190.911 209.692 207.932 160.346 236.058 290.803 241.871

== Valuation Ratios =======

PE Ratio(ttm) 31.24 29.3 26.34 29.5 22.89 26.21 16.59

Price to Tangible Book 7.77 9.32 9.61 10.47 8.53 8.71 4.76

Price-to-Free-Cash-Flow ratio 20.53 22.45 25.01 43.76 22.52 24.63 21.61

PS Ratio 3.75 3.81 3.78 4.37 3.04 3.43 2.36

EV-to-Revenue 3.5 3.54 3.51 4.15 2.89 3.25 2.13

EV-to-EBITDA 16.57 16.33 14.4 19.55 13.69 14.88 9.1EV-to-EBIT 18.47 18.16 15.74 21.42 14.99 16.19 9.95

Earnings Yield (Joel Greenblat 5.4 5.5 6.4 4.7 6.7 6.2 10.1

Forward Rate of Return 1.66 46.93 26.42 25.95 19.22 17.8 19.76

Shiller PE Ratio 0 51.2 43.72 46.73 29.6 33.31 21.83

== Valuation and Quality =======

Market Cap 3911.859 4702.765 5232.507 6992.168 5337.079 7129.824 5225.552

Enterprise Value 3970.359 4761.265 5292.514 7049.478 5427.435 7170.21 5262.396

Net Cash (per share) -1.23 -1.5 -2.11 -2.66 -4.71 -4.42 -3.57

Net Current Asset Value (per 0.59 0.62 0.5 0.77 -0.8 -0.36 1.24

DCF (per share) 0 11.63 20.91 23.73 27.4 32.34 35.29

Median PS (per share) 25.51 30.24 34.8 40.66 45.92 55.44 59.44Peter Lynch Fair Value (per sh 0 29.5 35.97 42.59 29.85 32 37.64

Graham Number (per share) 8.93 10.21 11.94 14.7 14.4 18.68 23.11

Enterprise value per share 29.17 35 39.96 53.83 42.6 57.45 42.43

Altman Z-Score 7.33 7.67 7.38 8.38 5.98 6.97 5.64

Piotroski F-Score 7 7 6 5 5 8 5

Beneish M-Score -2.86 -2.67 -2.52 -2.05 -2.44 -2.72 -2.31

Shares Outstanding (diluted) 136.112 136.036 132.435 130.964 127.407 124.8 124.034

Month End Stock Price 28.74 34.57 39.51 53.39 41.89 57.13 42.13


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Income Statement

Earnings Change (growth of rev) 18.6% 11.9% 15.6% 9.8% 17.9% 7.0%

Gross Profit margin (>40%) 40.4% 41.9% 42.9% 41.5% 41.8% 42.4% 43.4%SGA (


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Quarterly Data:

Sep-10 Sep-11 Sep-12 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04

19.35 22.25 25.2 2.23 1.96 2.35 2.22 2.55

2.91 3.36 3.76 0.305 0.205 0.305 0.3 0.378.76 8.73 11.32 3.7 3.61 3.75 3.78 3.79

4.78 5.49 5.88 0.53 0.38 0.54 0.53 0.52

3.23 3.44 3.88 0.46 0.39 0.28 0.46 0.41

10.47 10.66 13.56 4.14 4.26 4.57 4.59 4.62

0.034 0.159 0.107 0.104 0.101 0.094 0.093 0.094

121.816 116.703 111.376 136.16 136.028 136.57 136.611 135.001

28.3 32.1 28.3 30.4 20.4 28 27.2 33.2

15.5 16 14.8 16.4 10.8 15.2 14.8 17.6

16.7 16.9 15.6 17.2 11.6 16.4 16 19.2

96.9 94.6 94.1 170 125.2 163.2 174 147.2

0 0 0 0 0 0 0 043.5 43.7 42.6 42.8 40 41.3 43.2 42.9

22.7 22.7 21.2 21.7 16.7 20.9 21.6 18.5

22.6 22.7 21.2 21.8 16.9 21 21.7 23.1

15.3 15.4 15.2 14.2 11 13.7 14.1 15

0.56 0.56 0.57 0.57 0.6 0.59 0.57 0.57

0.154 0.158 0.163 0.385 0.467 0.386 0.44 0.419

-0.174 -0.1 -0.122 -0.374 -0.455 -0.358 -0.386 -0.329

0.018 0.076 0.057 0.048 0.055 0.046 0.048 0.042


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0.255 0.254 0.24 0.239 0.214 0.234 0.22 0.244

91.6 89.3 90 75.7 78.8 76.4 76.9 76.2

99.8 102.4 103.8 61.3 70.7 59.9 70.6 66.7

3.7 3.6 3.5 1.5 1.3 1.5 1.3 1.4

0.224 0.234 0.262 0.306 0.312 0.295 0.305 0.298

0.115 0.114 0.103 0.077 0.074 0.071 0.071 0.072

0.549 0.498 0.524 0.535 0.537 0.543 0.54 0.5291.017 0.812 0.921 1.028 0.984 0.974 0.966 0.919

0.389 0.451 0.43 0.389 0.385 0.375 0.383 0.391

0.008 0.003 0.002 0.056 0.054 0.051 0.046 0.045

1.014 1.039 0.975 0.288 0.248 0.279 0.261 0.292

2356.585 2596.666 2807.015 303.234 266.965 320.665 303.089 344.804

1330.943 1460.777 1610.679 173.326 160.256 188.174 172.056 196.868

1025.642 1135.889 1196.336 129.908 106.709 132.491 131.033 147.936

334.692 376.713 416.52 47.448 44.472 46.989 47.7 50.217

156.748 170.725 185.742 16.713 17.604 18.471 17.733 18.298

48.293 52.591 60.982 6.669 6.69 6.715 6.988 6.696

582.495 641.042 655.056 72.416 51.323 73.746 72.421 70.412

534.202 588.451 594.074 65.747 44.633 67.031 65.433 63.716

0 0 0 0.431 0.433 0.342 0.32 16.079

-4.108 -2.599 -3.419 -1.133 -1.215 -1.148 -1.171 -1.134

532.925 588.71 595.924 66.178 45.066 67.373 65.753 79.795

360.422 398.933 427.049 43.008 29.286 43.803 42.733 51.865

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

520.221 583.662 754.279 322.576 336.927 339.384 354.03 351.948591.677 635.153 691.806 252.265 231.273 269.209 255.969 288.663

363.933 409.962 457.869 116.815 124.574 123.828 133.395 144.389

205.513 225.84 266.561 113.868 122.35 120.994 118.111 110.584

1681.344 1854.617 2170.515 805.524 815.124 853.415 861.505 895.584

267.927 285.894 296.592 81.172 79.965 81.345 82.843 85.377

208.451 224.752 249.042 59.979 88.76 111.496 111.531 112.653

166.23 133.498 162.577 106.812 94.759 103.588 105.76 87.026

-67.545 -70.928 -61.103 -5.879 -4.009 -5.473 -6.638 -8.098

2323.952 2498.761 2878.726 1053.487 1078.608 1149.844 1161.639 1180.64

406.869 491.883 567.203 287.575 281.342 283.816 296.352 293.212

-1.8 -9.124 -28.241 2.976 -34.763 -36.981 0 -0.026-15.699 -97.884 -1.292 0 0 13.457 0 0

25.525 191.276 155 0 0 0 5.25 5.25

118.007 112.344 109.407 67.971 68.052 68.46 136.212 134.045

508.366 500.922 563.875 159.539 174.303 203.988 138.034 133.985

471.147 442.753 514.328 121.841 134.425 147.301 143.394 162.877

903.541 1125.912 1236.531 409.416 415.767 431.117 444.996 461.339

17.869 6.25 6.25 58.5 58.5 58.5 53.25 53.25

127.175 122.708 126.169 21.895 24.698 36.397 35.763 41.889


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1048.585 1254.87 1368.95 489.811 498.965 526.014 534.009 556.478

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

686.598 677.473 893.115 341.863 342.722 356.553 358.292 357.242

0 0 0 0 0 0 0 0

1275.367 1243.891 1509.776 563.676 579.643 623.83 627.63 624.162

360.422 398.933 427.049 43.008 29.168 43.921 42.733 51.865

48.293 52.591 60.982 6.669 6.69 6.715 6.988 6.696

0 0 0 0 0 0 0 0

46.151 41.729 58.205 26.238 -0.626 22.336 7.547 8.046

460.786 472.779 492.775 68.263 57.483 44.059 68.882 63.486

-69.345 -80.052 -89.344 -2.903 -38.772 -42.454 -6.638 -8.124

-74.815 -117.932 -122.295 -77.6 -32.1 -14.14 -16.082 26.571

-413.069 -367.587 -197.108 -27.934 -22.054 -14.407 -43.969 -75.278

6.593 154.136 -36.276 0 0 0 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

-422.175 -311.335 -234.676 -27.934 -22.054 -0.95 -43.969 -75.278

-33.308 44.236 140.113 -37.274 0.143 29.487 9.16 14.431

393.241 401.851 431.672 62.384 53.474 38.586 62.244 55.388

20.81 15.51 16.03 31.24 35.77 41.5 35.58 29.3

6.73 5.76 5.26 7.77 9.66 11.51 10.5 9.32

18.62 15.08 15.51 20.53 23.25 30.18 24.95 22.45

3.12 2.34 2.39 3.75 4.31 5.08 4.53 3.81

2.84 2.14 2.15 3.5 4.05 4.85 4.29 3.54

11.5 8.67 9.22 16.57 19.09 22.4 18.99 16.3312.54 9.45 10.16 18.47 21.25 24.95 21.1 18.16

8 10.6 9.8 5.4 4.7 4 4.7 5.5

20.53 20.5 17.89 1.66 1.78 79.97 64.49 46.93

27.18 20.14 20.61 0 0 72.11 62.81 51.2

7369.868 6087.228 6718.2 3913.238 4743.977 5893.678 5420.041 4666.985

7413.262 6284.754 6879.45 3649.162 4465.55 5612.794 5124.511 4373.537

-4.34 -5.75 -5.52 -1.23 -1.19 -1.37 -1.32 -1.52

0.8 0.09 1.2 0.59 0.54 0.57 0.58 0.62

40.55 46.21 55.95 0 10.85 10.84 10.98 11.63

64.5 74.19 83.95 25.51 26.97 28.27 29.17 30.2447.65 57.74 53.1 0 0 26 27.88 29.5

24.38 26.23 31.25 8.93 9.1 9.57 9.94 10.29

60.86 53.85 61.77 26.8 32.825 41.095 37.515 32.4

6.69 5.39 5.39 7.33 8.28 9.26 8.68 7.67

5 7 6 7 8 8 7 7

-2.68 -2.65 -2.49 -2.86 -2.82 -2.64 -2.57 -2.67

121.816 116.703 111.376 136.16 136.028 136.57 136.611 135.001

60.5 52.16 60.32 28.74 34.875 43.155 39.675 34.57


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TTM TTM Test

6.4% 10.2% 8.1% 4.4% AZ AT AN

43.5% 43.7% 42.6% 42.5%14.2% 14.5% 14.8% 14.7% AZ 52

4.7% 4.6% 5.1% 5.3% AY 51

-0.8% -0.4% -0.6% -0.6% AX 50

22.7% 22.7% 21.2% 49.5% AW 49

15.3% 15.4% 15.2% 35.4% AV 48

13.0% 10.7% 7.0% 3.3% AU 47

14.1% 15.5% 11.9% 5.9% AT 46

-1.8% -4.2% -4.6% -2.9% AS 45

************************* AR 44

AQ 43

97.4% 99.2% 127.0% AP 42

AO 41

13.1% 12.6% 11.7% AN 40

13.0% 10.7% 7.0% AM 39

25.1% 24.5% 24.6% AL 38

AK 37

-0.9% 7.8% 10.8% AJ 36

15.5% 16.0% 14.8% AI 35

AH 34

25.525 191.276 155

0.049578 0.015667 0.0146350.822183 1.008826 0.906724 recent rec-1 rec-2 rec-3

-1.4% -1.3% 31.8% 52 51 50 49

28.3% 32.1% 28.3%

*************************

these are the test for capex test

25.8% -716.538 2774.075

-413.069 -367.587 -197.108


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Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06

2.23 2.64 2.63 2.95 2.55 3.14 3.02 3.5 3

0.29 0.39 0.37 0.45 0.3 0.41 0.49 0.61 0.373.82 3.87 3.86 4.11 4.53 4.71 4.81 5.2 5.25

0.51 0.65 0.62 0.77 0.51 0.66 0.61 0.81 0.6

0.24 0.48 0.28 0.58 0.04 0.36 0.46 0.36 0.55

4.66 4.79 4.79 5.04 5.45 5.63 5.74 6.14 6.19

0.098 0.096 0.088 0.091 0.084 0.081 0.076 0.072 0.072

133.985 133.082 131.933 130.806 131.138 131.926 131.138 129.887 129.198

26 34 32.4 36.8 23.2 30 34.8 41.2 24.8

13.6 17.2 16.4 18.4 12.4 16 18.4 22 13.2

14.4 18.8 17.6 19.6 12.8 16.8 19.6 23.2 14.4

122.8 166.4 145.6 175.6 94.4 115.2 97.2 137.2 102

0 0 0 0 0 0 0 0 041.9 42.8 43.8 42.9 41.5 41.3 41.1 42 41.3

20.3 22.6 21.7 24.1 17.9 19.2 18.4 21.4 18.1

20.4 22.8 22 23.6 18.4 19.8 19 22 18.7

13.5 15.4 14.8 15.8 12.3 13.5 16.6 18.1 12.8

0.58 0.57 0.56 0.57 0.58 0.59 0.59 0.58 0.59

0.547 0.509 0.537 0.427 0.538 0.429 0.497 0.418 0.577

-0.503 -0.38 -0.287 -0.224 -0.324 -0.266 -0.26 -0.317 -0.269

0.051 0.044 0.04 0.039 0.045 0.036 0.036 0.032 0.037


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0.239 0.251 0.255 0.267 0.255 0.269 0.28 0.312 0.265

86.8 81.5 83.6 82.9 92.9 81.6 91.1 94.6 92.9

85.6 81 87.1 68.1 83.7 66.5 76.8 65.6 89.4

1.1 1.1 1 1.3 1.1 1.4 1.2 1.4 1

0.272 0.267 0.246 0.287 0.288 0.285 0.262 0.242 0.243

0.076 0.073 0.079 0.087 0.087 0.087 0.087 0.086 0.091

0.523 0.51 0.507 0.5 0.535 0.538 0.531 0.527 0.5350.9 0.84 0.828 0.817 0.954 0.976 0.949 0.946 0.977

0.394 0.412 0.418 0.413 0.381 0.38 0.394 0.426 0.416

0.047 0.045 0.043 0.044 0.043 0.041 0.035 0.033 0.033

0.251 0.28 0.278 0.293 0.25 0.3 0.279 0.3 0.26

298.956 350.879 346.541 386.181 334.231 413.858 395.671 454.06 387.858

173.772 200.724 194.669 220.371 195.467 242.773 233.011 263.242 227.708

125.184 150.155 151.872 165.81 138.764 171.085 162.66 190.818 160.15

46.19 50.667 54.678 54.447 56.783 66.549 64.5 65.731 63.142

18.368 20.228 21.89 21.577 22.217 25.012 25.456 27.723 26.966

7.075 7.091 7.011 7.474 7.303 7.478 7.392 7.403 7.334

67.701 86.351 82.315 100.429 67.067 87.002 80.096 104.767 77.376

60.626 79.26 75.304 92.955 59.764 79.524 72.704 97.364 70.042

0.453 0.652 1.075 -1.999 1.666 2.534 2.574 2.552 2.446

-1.505 -1.335 -0.994 -0.864 -1.084 -1.099 -1.027 -1.438 -1.042

61.079 79.912 76.379 90.956 61.43 82.058 75.278 99.916 72.488

40.309 54.152 51.179 60.936 41.16 55.798 65.728 82.405 49.501

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

324.628 334.674 306.266 378.442 385.43 393.555 370.98 366.107 362.844285.064 314.382 318.227 351.899 341.285 371.301 396.049 471.82 395.835

163.539 178.72 186.262 164.873 179.851 177.365 196.583 189.653 223.712

122.597 116.412 121.349 121.681 123.232 128.801 133.181 128.469 132.866

895.828 944.188 932.104 1016.895 1029.798 1071.022 1096.793 1156.049 1115.257

91.255 91.886 98.756 114.54 117.055 119.811 123.495 130.318 135.774

112.653 122.015 122.24 121.389 121.389 121.389 121.389 121.389 121.389

93.526 93.159 93.459 64.578 69.687 67.752 75.171 103.995 120.236

-8.581 -5.74 -12.151 -17.393 -8.561 -8.81 -10.272 -13.769 -12.191

1193.262 1251.248 1246.559 1317.402 1337.929 1379.974 1416.848 1511.751 1492.656

320.053 346.492 360.117 329.001 348.806 353.469 376.465 343.735 322.768

0 -12.147 -0.225 0 0 0 0 0 00 7.11E-15 0 0 13.714 29.741 -5.542 5.956 7.579

5.349 5.351 2.603 2.689 2.693 2.697 7.951 7.954 7.958

133.543 132.719 131.242 130.715 131.86 131.805 130.547 129.721 128.891

143.721 149.52 142.992 152.263 196.152 239.225 244.827 265.214 280.775

145.233 164.265 157.828 212.243 158.887 167.698 174.067 292.267 290.744

470.635 516.108 520.548 543.933 510.386 523.864 558.483 643.956 621.47

55.733 55.707 53.18 57.318 57.261 57.21 49.409 49.356 49.303

42.355 41.74 41.165 57.124 54.927 55.837 56.82 21.186 22.717


11/372

568.723 613.555 614.893 658.375 622.574 636.911 664.712 714.498 693.49

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

347.982 357.733 359.417 383.667 393.164 377.854 382.583 406.849 394.031

0 0 0 0 0 0 0 0 0

624.539 637.693 631.666 659.027 715.355 743.063 752.136 797.253 799.166

40.309 54.152 51.179 60.936 41.16 55.798 65.728 82.405 49.501

7.075 7.091 7.011 7.474 7.303 7.478 7.392 7.403 7.334

0 0 0 0 0 0 0 0 0

6.652 4.248 6.096 8.482 13.654 11.64 9.522 8.253 9.235

40.904 69.232 48.794 92.867 13.879 56.666 70.239 60.974 82.788

-8.581 -17.887 -12.376 -17.393 -8.561 -8.81 -10.272 -13.769 -12.191

-1.483 82.987 -31.849 2.105 -1.853 -10.275 61.548 -60.907 -27.895

-49.633 -45.008 -59.864 -34.491 -10.074 -69.2 -61.857 -55.79 -66.646

-0.016 -0.024 -5.275 -0.025 -0.053 -0.047 -2.547 -0.05 -0.049

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

-49.649 -45.032 -65.139 -34.516 3.587 -39.506 -69.946 -49.884 -59.116

-13.381 108.153 -46.588 62.032 16.524 6.655 58.446 -52.203 -8.242

32.323 63.492 36.643 75.474 5.318 47.856 59.967 47.205 70.597

34.18 25.39 26.29 26.34 33.34 36.71 28.7 29.5 25.3

11.32 8.86 9.67 9.61 11.11 11.92 9.84 10.47 9.06

31.11 21.56 26.48 25.01 36.48 44.57 32.88 43.76 27.5

4.62 3.56 3.71 3.78 4.67 4.98 4.06 4.37 3.76

4.36 3.3 3.49 3.51 4.43 4.78 3.85 4.15 3.54

19.45 14.44 15.24 14.4 18.67 21.01 17.62 19.55 16.7221.53 15.94 16.76 15.74 20.42 23.01 19.33 21.42 18.27

4.6 6.3 6 6.4 4.9 4.3 5.2 4.7 5.5

35.31 28.99 26.47 26.42 27.62 28.05 27.55 25.95 24.33

62.11 46.12 46.69 43.72 53.68 55.8 44.02 46.73 39.96

5793.511 4562.051 4925.059 5168.145 6601.487 7408.964 6209.384 6934.667 6145.949

5529.965 4288.435 4674.576 4849.71 6276.011 7075.316 5895.764 6625.87 5840.366

-1.82 -2.1 -2.34 -2.14 -1.81 -1.84 -2.24 -2.68 -2.56

0.38 0.35 0.18 0.51 0.83 0.94 0.77 0.77 0.6

12.22 12.18 13.67 20.91 21.21 21.98 23.25 23.73 25.02

31.14 32.1 33.47 34.8 35.86 37.53 38.83 40.66 42.1631.63 33.75 33.43 35.97 36.71 38.05 40.33 42.59 41.59

10.71 11.13 11.4 12.09 12.7 12.96 13.58 14.82 15.17

41.27 32.22 35.43 37.08 47.86 53.63 44.96 51.01 45.2

8.77 7.07 7.47 7.38 9.07 9.67 8.26 8.38 7.94

6 6 6 6 8 7 7 5 6

-2.51 -2.67 -2.48 -2.52 -2.42 -2.38 -2.36 -2.05 -2.36

133.985 133.082 131.933 130.806 131.138 131.926 131.138 129.887 129.198

43.24 34.28 37.33 39.51 50.34 56.16 47.35 53.39 47.57


12/372


13/372

Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09

3.45 3.34 4 3.62 4.21 4.07 4.75 4.11 4.47

0.46 0.39 0.61 0.43 0.56 0.58 0.61 0.55 0.545.15 5 4.91 5.24 5.53 5.92 6.56 6.75 7.46

0.73 0.59 1 0.77 0.9 0.81 1.17 0.87 1.08

0.22 0.18 0.91 0.83 0.26 0.75 0.48 0.53 -0.29

6.36 6.35 6.55 6.91 7.25 7.64 8.24 8.42 9.11

0.078 0.061 0.11 0.078 0.135 0.113 0.039 0.063 0.038

128.205 126.978 125.331 124.809 125.158 124.617 124.65 123.818 123.782

30 25.2 38.4 25.6 31.6 31.2 30.4 26.4 24

16 13.2 18.8 12.4 14.8 15.2 16 13.6 13.2

17.6 14.8 21.2 14 16.4 16.8 17.2 14.8 14.4

102.8 70 137.6 95.6 94.8 91.2 122.8 83.2 83.6

0 0 0 0 0 0 0 0 041.8 40.2 43.3 42.4 40 41.8 44.3 43 43.4

19.5 15.6 23.2 19.3 19.5 18.2 22.9 19.4 22.1

20 16 23.4 19.6 19.8 18.4 23.3 19.7 22

13.8 11.9 15.7 12.3 13.5 14.6 13.2 13.5 12.2

0.58 0.6 0.57 0.58 0.6 0.58 0.56 0.57 0.57

0.605 0.652 0.467 0.575 0.509 0.6 0.477 0.643 0.615

-0.308 -0.234 -0.279 -0.287 -0.223 -0.257 -0.186 -0.187 -0.216

0.036 0.029 0.045 0.037 0.058 0.053 0.017 0.032 0.019


14/372

0.273 0.282 0.301 0.248 0.272 0.228 0.246 0.229 0.259

86.6 92.7 92.1 88.4 90 79.4 74.7 83.6 87.9

94.6 99.2 74.9 90.8 77.2 93.8 78 102.8 98.9

1 0.9 1.2 1 1.2 1 1.2 0.9 0.9

0.187 0.126 0.156 0.189 0.188 0.209 0.201 0.207 0.182

0.096 0.103 0.102 0.103 0.102 0.108 0.11 0.124 0.122

0.529 0.527 0.488 0.489 0.474 0.491 0.52 0.511 0.5460.91 0.878 0.714 0.726 0.686 0.746 0.863 0.84 0.985

0.418 0.429 0.464 0.412 0.433 0.427 0.396 0.398 0.366

0.036 0.026 0.024 0.023 0.021 0.017 0.016 0.016 0.014

0.287 0.277 0.297 0.256 0.275 0.261 0.3 0.25 0.268

442.682 423.656 500.876 451.213 527.534 507.417 592.698 508.669 553.591

257.513 253.163 283.825 260.108 316.392 295.083 330.167 289.712 313.2

185.169 170.493 217.051 191.105 211.142 212.334 262.531 218.957 240.391

70.261 75.181 68.334 75.073 75.934 84.546 87.824 83.233 81.183

28.46 29.195 32.699 28.944 32.144 35.65 39.126 36.978 36.979

7.746 8.239 8.887 8.646 9.121 9.186 9.756 9.517 11.647

94.194 74.356 124.905 95.734 112.185 101.324 145.337 108.263 133.876

86.448 66.117 116.018 87.088 103.064 92.138 135.581 98.746 122.229

2.022 1.659 1.247 1.514 1.564 0 6.619 0 0

-1.363 -0.99 -1.396 -1.296 -1.174 -1.304 -1.105 -0.953 -1.194

88.47 67.776 117.265 88.602 104.628 93.436 137.824 100.055 121.912

60.951 50.37 78.634 55.479 71.363 74.18 78.462 68.797 67.813

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

288.778 192.79 263.246 334.082 360.056 405.684 397.306 422.871 374.617421.391 431.479 507.04 438.132 521.924 442.65 486.31 467.415 534.789

267.683 276.048 233.743 259.571 268.517 304.306 282.98 327.265 340.24

136.502 159.989 156.2 185.939 196.841 202.538 227.805 204.994 200.508

1114.354 1060.306 1160.229 1217.724 1347.338 1355.178 1394.401 1422.545 1450.154

147.263 156.82 171.654 180.876 195.473 209.022 218.183 253.072 252.273

153.955 170.184 205.553 208.844 215.676 214.927 209.146 206.261 203.871

125.75 142.243 146.939 156.751 158.454 161.857 153.782 156.124 157.693

-13.196 -15.83 -22.918 -16.592 -21.97 -20.769 -22.093 -18.467 -10.867

1541.322 1529.553 1684.375 1764.195 1916.941 1940.984 1975.512 2038.002 2063.991

334.331 331.19 384.952 342.396 359.316 349.478 358.196 324.576 337.826

-26.792 -25.488 -0.094 0 -1.186 -0.105 -0.801 0 0-6.9 3.951 3.193 10.493 5.216 8.127 16.874 2.647 0.497

7.962 8.966 49.97 26.974 81.978 74.867 7.987 32.992 12.746

127.887 126.416 125.215 125.486 125.507 124.877 125.59 124.313 125.36

297.179 302.091 311.411 346.926 371.947 391.771 468.384 468.615 486.584

302.614 316.057 346.765 357.984 389.472 404.88 415.494 452.766 404.438

644.907 656.213 781.687 727.354 830.766 829.225 781.677 810.334 755.01

55.916 40.443 40.386 40.329 40.27 32.46 32.399 32.337 29.774

25.709 27.205 40.847 133.629 138.174 126.977 134.251 153.065 152.154


15/372

726.532 723.861 862.92 901.312 1009.21 988.662 948.327 995.736 936.938

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

394.255 381.716 395.742 400.448 414.82 440.909 451.439 467.578 535.392

0 0 0 0 0 0 0 0 0

814.79 805.692 821.455 862.883 907.731 952.322 1027.185 1042.266 1127.053

60.951 50.37 78.634 55.479 71.363 74.18 78.462 68.797 67.813

7.746 8.239 8.887 8.646 9.121 9.186 9.756 9.517 11.647

0 0 0 0 0 0 0 0 0

13.004 9.524 11.283 8.641 10.752 16.458 -62.304 10.651 18.015

41.651 39.175 136.579 120.698 55.117 114.373 82.039 84.562 -24.941

-39.988 -41.318 -23.012 -16.592 -23.156 -20.874 -22.894 -18.467 -10.867

53.556 -50.182 -31.137 -17.605 -21.137 -20.536 -28.307 -22.117 -20.076

-62.675 -74.392 -71.083 -16.846 -47.093 -49.434 -19.442 -67.05 9.321

-0.051 -14.394 40.947 -23.053 54.945 -14.91 -66.953 24.943 -22.809

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

-69.626 -84.835 -26.943 -29.406 13.068 -56.217 -69.521 -39.46 -12.991

24.512 -95.988 70.456 70.836 25.974 45.628 -8.378 25.565 -48.254

28.455 23.345 113.661 104.106 33.147 93.604 59.946 66.095 -35.808

24.77 23.42 22.89 27.6 23.54 23.78 26.21 15.23 13.35

9.28 8.57 8.53 9.95 8.47 8.76 8.71 5.19 4.08

30.07 32.72 22.52 24.37 21.49 18.85 24.63 17.35 20.71

3.69 3.22 3.04 3.62 3.09 3.26 3.43 2.04 1.75

3.51 3.1 2.89 3.43 2.96 3.1 3.25 1.86 1.59

16.56 15.11 13.69 16.04 13.81 14.2 14.88 8.52 7.0318.08 16.56 14.99 17.55 15.11 15.47 16.19 9.27 7.66

5.5 6 6.7 5.7 6.6 6.5 6.2 10.8 13.1

23.11 20.27 19.22 18.26 18.13 18.53 17.8 17.94 17.86

37.76 32.59 29.6 35.53 30.13 31.19 33.31 20.42 17.15

6128.712 5442.277 5250.116 6510.037 5862.401 6461.391 7121.255 4338.583 3767.924

5903.812 5298.896 5077.226 6243.258 5624.593 6163.034 6764.335 3981.041 3435.827

-3.41 -4.18 -4.78 -4.54 -5.19 -4.68 -4.42 -4.63 -4.54

0.09 -0.55 -0.82 -0.87 -0.99 -0.79 -0.36 -0.47 0.07

25.22 25.5 27.4 29.26 29.67 31.46 32.34 33.2 32.07

43.19 44.26 45.92 47.99 50.52 52.95 55.44 57.08 57.9439.28 32.57 29.85 28.99 29.59 32.48 32 33.35 33.24

15.25 14.64 14.64 15.42 16.14 17.56 18.65 19.35 20.6

46.054 41.73 40.51 50.02 44.94 49.46 54.27 32.15 27.76

7.62 7.02 5.98 6.71 5.77 6.28 6.97 5.06 4.96

5 3 5 5 5 8 8 7 5

-2.25 -2.17 -2.44 -2.52 -2.48 -2.8 -2.72 -2.54 -2.39

128.205 126.978 125.331 124.809 125.158 124.617 124.65 123.818 123.782

47.804 42.86 41.89 52.16 46.84 51.85 57.13 35.04 30.44


16/372


17/372

Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11

4.1 5.17 4.37 4.76 4.74 5.5 4.91 5.5 5.56

0.68 0.77 0.63 0.73 0.69 0.857 0.8 0.86 0.838.22 8.86 9.25 9.65 9.7 8.99 10.67 9.33 10.59

0.92 1.31 1.06 1.2 1.17 1.36 1.26 1.39 1.32

0.89 0.82 1 0.67 0.31 1.27 0.98 0.44 0.92

9.89 10.56 10.95 11.34 11.36 10.75 12.43 11.15 12.44

0.026 0.028 0.027 0.021 0.017 0.034 0.016 0.108 0.012

124.237 124.253 123.69 122.938 122.072 118.651 118.17 117.959 116.874

27.6 29.6 23.2 26 24.8 32.8 26.4 31.2 27.2

16 16.8 13.2 15.6 14.8 18 15.6 16.8 15.6

17.6 18 14 16.8 15.6 19.6 16.4 17.6 16.8

76.8 108.8 92 104 90 108 100.4 98.4 88.8

0 0 0 0 0 0 0 0 042.4 44.4 44.6 43.4 44 42.4 46 44.6 43.1

20.1 23.5 22 23.1 22.6 22.8 23.6 23.3 21.6

20.1 23.4 22 23.1 22.5 22.9 23.6 23.3 21.6

16.7 15.1 14.6 15.6 14.8 16.1 16.6 15.9 15.2

0.58 0.56 0.55 0.57 0.56 0.58 0.54 0.55 0.57

0.702 0.501 0.649 0.634 0.675 0.558 0.695 0.651 0.675

-0.18 -0.16 -0.204 -0.188 -0.255 -0.066 -0.096 -0.125 -0.078

0.016 0.014 0.017 0.013 0.01 0.017 0.01 0.055 0.007


18/372

0.221 0.252 0.215 0.212 0.222 0.255 0.201 0.228 0.232

83.8 82.4 85.4 77.3 81.1 82.6 77.9 79.2 81.5

111 82 106.5 102 109.7 88.1 117.1 107 107.9

0.8 1.1 0.9 0.9 0.8 1 0.8 0.9 0.8

0.222 0.24 0.265 0.279 0.253 0.224 0.285 0.237 0.226

0.122 0.114 0.11 0.11 0.113 0.115 0.112 0.114 0.113

0.578 0.568 0.574 0.593 0.598 0.549 0.594 0.533 0.5791.137 1.105 1.139 1.241 1.271 1.017 1.258 0.954 1.169

0.356 0.365 0.361 0.348 0.343 0.389 0.349 0.413 0.371

0.011 0.01 0.01 0.01 0.008 0.008 0.007 0.005 0.002

0.24 0.278 0.229 0.249 0.249 0.281 0.235 0.263 0.258

509.871 641.929 540.906 585.571 578.051 652.057 579.852 648.455 649.438

293.631 357.012 299.889 331.593 323.67 375.791 313.013 359.461 369.683

216.24 284.917 241.017 253.978 254.381 276.266 266.839 288.994 279.755

78.427 96.141 83.542 79.502 84.742 86.906 91.31 93.924 94.838

35.325 38.093 38.388 38.92 38.874 40.566 38.502 43.873 44.426

11.529 11.916 11.935 11.818 11.903 12.637 12.365 13.185 13.438

114.017 162.599 131.022 147.374 142.668 161.431 149.392 164.382 153.929

102.488 150.683 119.087 135.556 130.765 148.794 137.027 151.197 140.491

0 0 0 0 0 0 0 0 0

-0.92 -1.03 -1.104 -1.099 -1.472 -0.433 -0.555 -0.809 -0.504

102.255 150.421 118.791 135.177 129.947 149.01 137.101 151.197 140.571

85.351 97.061 78.775 91.114 85.494 105.039 96.489 103.079 98.605

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

471.721 553.529 625.495 654.727 587.611 520.221 703.519 584.389 567.922469.523 580.918 507.411 497.32 514.939 591.677 496.271 564.147 581.862

358.151 321.861 350.845 371.496 390.188 363.933 402.768 422.467 438.483

194.114 216.143 239.527 206.057 205.19 205.513 224.69 235.091 249.185

1493.509 1672.451 1723.278 1729.6 1697.928 1681.344 1827.248 1806.094 1837.452

260.297 264.06 258.432 258.479 261.361 267.927 277.55 281.823 283.185

207.687 210.346 210.563 207.146 203.288 208.451 206.946 214.731 216.063

166.077 161.391 165.721 154.664 156.318 166.23 159.225 166.922 176.579

-18.597 -14.631 -7.554 -11.468 -30.582 -17.941 -22.611 -16.028 -13.65

2127.57 2308.248 2357.994 2349.889 2318.895 2323.952 2470.969 2469.57 2513.279

328.034 420.495 378.877 364.492 333.577 406.869 439.96 440.944 472.196

-2.55 0 0 0 -1.8 0 -0.3 -7.799 -0.31.272 1.779 1.023 -2.945 3.428 -17.205 9.157 -69.06 -0.632

9.001 13.45 13.306 6.515 5.52 25.525 7.233 130.102 11.689

125.53 125.281 124.357 123.46 121.77 118.007 119.894 116.953 117.075

501.588 516.478 521.208 528.544 533.218 508.366 606.865 528.873 596.4

420.448 408.375 459.385 446.997 456.118 471.147 416.033 447.756 447.96

757.483 842.32 851.568 818.004 795.215 903.541 863.226 1018.802 931.845

23.459 23.394 23.327 23.259 17.939 17.869 16.094 12.5 6.25

117.561 130.751 128.874 115.1 118.395 127.175 123.327 122.545 121.137


19/372

898.503 996.465 1003.769 956.363 931.549 1048.585 1002.647 1153.847 1059.232

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

620.743 696.409 735.634 773.542 772.427 686.598 783.087 701.778 768.81

0 0 0 0 0 0 0 0 0

1229.067 1311.783 1354.225 1393.526 1387.346 1275.367 1468.322 1315.723 1454.047

85.351 97.061 78.775 91.114 85.494 105.039 96.489 103.079 98.605

11.529 11.916 11.935 11.818 11.903 12.637 12.365 13.185 13.438

0 0 0 0 0 0 0 0 0

13.287 8.846 11.088 5.326 13.217 -160.088 11.942 11.561 10.849

128.912 115.9 130.667 93.921 67.836 168.362 138.157 67.871 120.899

-21.147 -14.631 -7.554 -11.468 -32.382 -17.941 -22.911 -23.827 -13.95

-20.833 -14.88 -15.68 -7.013 -33.268 -18.854 -22.581 -25.239 -37.027

3.085 -19.016 -46.39 -51.975 -98.523 -216.181 76.806 -209.939 27.657

-10.06 4.11 -0.062 -6.965 -6.315 19.935 -20.067 119.901 -125.293

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

-5.703 -13.127 -45.429 -61.885 -101.41 -213.451 65.896 -159.098 -98.268

97.104 81.808 71.966 29.232 -67.116 -67.39 183.298 -119.13 -16.467

110.315 101.269 123.113 82.453 37.254 150.421 115.546 51.843 107.249

14.76 16.59 17.88 19.69 18.54 20.81 22.52 21.09 20.92

4.27 4.76 5.06 5.73 5.39 6.73 6.49 7.25 6.61

21.83 21.61 19.36 16.37 18.67 18.62 21.45 22.55 19.4

2.02 2.36 2.59 3.01 2.75 3.12 3.48 3.28 3.26

1.81 2.13 2.32 2.71 2.48 2.84 3.13 3.07 3.02

7.83 9.1 9.61 11.13 9.97 11.5 12.49 12.2 12.138.55 9.95 10.53 12.16 10.85 12.54 13.6 13.27 13.22

11.7 10.1 9.5 8.2 9.2 8 7.4 7.5 7.6

17.83 19.76 20.34 20.11 19.9 20.53 20.51 21.1 20.84

18.88 21.83 23.48 26.65 24.5 27.18 30.07 28 27.94

4365.688 5234.779 5794.877 6802.16 6381.924 7178.386 8186.818 7978.747 8183.517

3926.427 4718.094 5206.015 6177.207 5817.772 6701.559 7506.626 7536.96 7633.534

-3.44 -3.56 -3.06 -2.45 -2.82 -4.45 -2.53 -4.83 -4.2

0.84 1.24 1.44 2.09 1.94 0.82 2.32 0.55 1.41

33.99 35.29 37.12 38.49 38.22 40.55 43.76 42.56 45.4

58.04 59.44 60.31 61.27 63.4 64.5 66.3 68.76 71.535.34 37.64 39.35 42.88 44.16 47.65 52.12 55.51 58.04

21.87 23.07 23.94 24.95 25.34 25.03 27.98 26.59 28.7

31.6 37.97 42.09 50.25 47.66 56.48 63.52 63.89 65.31

5.48 5.64 5.99 6.87 6.81 6.69 7.52 6.68 7.26

5 5 6 7 7 5 6 5 5

-2.37 -2.31 -2.49 -2.81 -2.55 -2.68 -2.67 -2.51 -2.55

124.237 124.253 123.69 122.938 122.072 118.651 118.17 117.959 116.874

35.14 42.13 46.85 55.33 52.28 60.5 69.28 67.64 70.02


20/372


21/372

Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13

6.31 5.57 6.41 6.35 6.88 6.21 7.06 6.71

0.873 0.79 0.94 0.96 1.073 0.86 1.02 1.038.94 10.21 10.87 11.16 11.47 12.38 12.91 13.5

1.52 1.27 1.41 1.51 1.69 1.41 1.57 1.57

1.12 0.41 0.81 1.12 1.55 0.47 0.11 1.66

10.91 12.11 12.78 13.17 13.73 14.43 14.96 15.57

0.159 0.138 0.113 0.12 0.107 0.131 0.146 0.104

113.97 112.267 112.354 111.07 109.933 109.298 108.841 108.158

32.4 26.4 30 29.6 32 24 27.6 26.8

16 14 16 16 16.8 12.8 14.8 14.8

17.2 14.8 17.2 16.8 17.6 13.6 15.2 15.6

102.8 80 86 92.8 106.4 80 80.4 83.6

0 0 0 0 0 0 0 041.8 43 41.2 43.6 42.8 42.9 41.6 42.8

22.2 20.6 20 21.8 22.2 20.3 20.3 21.3

22.2 20.7 20 21.8 22.3 20.4 20.4 21.5

14 14.4 15 15.4 15.9 14 14.7 15.5

0.58 0.57 0.59 0.56 0.57 0.57 0.58 0.57

0.57 0.711 0.618 0.659 0.606 0.736 0.654 0.739

-0.102 -0.133 -0.098 -0.132 -0.126 -0.128 -0.134 -0.12

0.069 0.075 0.056 0.062 0.053 0.076 0.077 0.06


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0.254 0.224 0.239 0.224 0.24 0.217 0.236 0.214

80.4 84 80.5 78.6 83.3 85.5 85.6 82.1

89.1 113.5 95.6 106.3 96.3 117.4 101.9 117.5

1 0.8 1 0.9 0.9 0.8 0.9 0.8

0.234 0.245 0.243 0.25 0.262 0.275 0.26 0.27

0.114 0.109 0.106 0.106 0.103 0.102 0.099 0.1

0.498 0.527 0.539 0.538 0.524 0.537 0.532 0.550.812 0.938 0.995 0.988 0.921 0.994 0.98 1.062

0.451 0.423 0.414 0.416 0.43 0.419 0.421 0.403

0.003 0.002 0.002 0.002 0.002 0.002 0.002 0

0.288 0.242 0.27 0.259 0.263 0.231 0.251 0.237

718.921 625.338 720.274 705.246 756.157 678.398 768.358 726.211

418.62 356.579 423.578 397.635 432.887 387.31 448.72 415.746

300.301 268.759 296.696 307.611 323.27 291.088 319.638 310.465

96.641 96.075 105.83 105.081 109.534 106.481 113.031 102.398

43.924 43.765 47.067 48.943 45.967 47.117 50.903 53.335

13.603 13.986 14.059 14.514 18.423 16.956 15.55 15.403

173.339 142.905 157.858 168.101 186.192 154.446 171.254 170.135

159.736 128.919 143.799 153.587 167.769 137.49 155.704 154.732

0 0 0 0 0 0 0 0

-0.731 -0.829 -0.707 -0.933 -0.95 -0.866 -1.026 -0.874

159.841 129.24 144.201 153.966 168.517 138.163 156.383 155.773

100.76 90.234 107.772 108.843 120.201 95.283 112.788 112.831

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

583.662 631.606 648.351 680.541 754.279 807.293 795.87 825.044635.153 577.253 637.402 608.834 691.806 637.473 722.979 655.13

409.962 444.665 444.8 464.436 457.869 499.616 502.598 536.693

225.84 254.153 249.717 263.676 266.561 283.931 304.907 300.172

1854.617 1907.677 1980.27 2017.487 2170.515 2228.313 2326.354 2317.039

285.894 280.832 282.239 287.336 296.592 298.533 302.743 306.341

224.752 213.017 214.547 224.058 249.042 223.914 222.198 222.946

133.498 179.805 186.114 189.072 162.577 187.804 210.784 212.729

-18.639 -7.756 -14.469 -17.963 -20.915 -20.004 -18.849 -17.835

2498.761 2581.331 2663.17 2717.953 2878.726 2938.564 3062.079 3059.055

491.883 402.104 464.36 481.276 567.203 502.662 524.862 446.982

-0.725 -9.832 0 -18.409 0 0 0 0-37.349 1.171 0.55 -2.588 -0.425 0.51 2.437 -3.838

191.276 181.25 155.519 168.76 155 200 231.873 174.374

112.344 112.784 111.805 110.711 109.407 109.322 108.522 107.774

500.922 530.029 570.138 568.943 563.875 609.246 628.569 634.006

442.753 508.969 481.927 480.291 514.328 529.11 532.264 610.256

1125.912 1092.323 1101.806 1130.327 1236.531 1231.772 1288.999 1231.612

6.25 6.25 6.25 6.25 6.25 6.25 6.25 0

122.708 123.405 119.131 118.051 126.169 123.654 138.963 143.893


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1254.87 1221.978 1227.187 1254.628 1368.95 1361.676 1434.212 1375.505

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

677.473 767.701 798.996 834.851 893.115 909.723 945.251 995.165

0 0 0 0 0 0 0 0

1243.891 1359.353 1435.983 1463.325 1509.776 1576.888 1627.867 1683.55

100.76 90.234 107.772 108.842 120.201 95.283 112.788 112.831

13.603 13.986 14.059 14.514 18.423 16.956 15.55 15.403

0 0 0 0 0 0 0 0

-290.796 9.757 15.878 14.019 18.551 13.029 15.526 7.644

145.852 53.335 105.288 142.739 191.413 71.881 30.635 197.74

-19.364 -17.588 -14.469 -36.372 -20.915 -20.004 -18.849 -17.835

-33.085 -22.535 -20.243 -55.289 -24.228 -23.973 -19.386 -31.027

-262.111 19.377 -52.96 -84.306 -79.219 -44.622 -68.686 -71.327

179.595 -10.026 -24.393 11.958 -13.815 45 34.75 -64.815

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

-119.865 10.522 -76.803 -74.936 -93.459 0.888 -31.499 -139.98

-3.465 41.86 10.41 16.659 71.184 50.919 -15.756 25.834

127.213 45.579 90.819 124.776 170.498 51.877 11.786 179.905

15.51 20.02 20.09 17.06 16.03 18.33 18.4 16.93

5.76 6.57 6.34 5.45 5.26 5.67 0 0

15.08 23.23 21.15 17.56 15.51 17.78 22.15 17.8

2.34 2.93 2.89 2.47 2.39 2.72 2.72 2.51

2.14 2.68 2.68 2.25 2.15 2.47 2.5 2.27

8.67 11.18 11.56 9.72 9.22 10.62 10.7 9.749.45 12.22 12.67 10.65 10.16 11.74 11.84 10.79

10.6 8.2 7.9 9.4 9.8 8.5 8.4 9.3

20.5 20.17 19.45 19.89 17.89 17.19 17.36 17.04

20.14 25.43 24.9 21.42 20.61 23.64 23.35 20.99

5944.675 7536.484 7747.932 6749.724 6631.159 7677.092 7836.552 7295.257

5558.539 7092.378 7261.35 6244.193 6038.13 7076.049 7278.805 6644.587

-5.89 -5.26 -5.15 -5.17 -5.59 -5.07 -5.86 -5.09

0.09 0.58 1.08 1.03 1.21 1.59 1.43 1.93

46.21 48.62 50.07 52.29 55.95 56.34 56.58 59.3

74.19 76.39 79.42 82.05 83.95 86.08 88.25 89.4457.74 56.1 54.93 53.34 53.1 51.13 49.62 48.23

26.86 28.7 29.77 30.71 31.66 33.18 34.16 35.2

48.77 63.17 64.63 56.22 54.93 64.74 66.88 61.43

5.39 6.26 6.34 5.78 5.39 5.88 5.73 5.69

7 4 6 5 6 7 6 7

-2.65 -2.38 -2.41 -2.54 -2.49 -2.55 -2.41 -2.52

113.97 112.267 112.354 111.07 109.933 109.298 108.841 108.158

52.16 67.13 68.96 60.77 60.32 70.24 72 67.45


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Downloaded from http://www.GuruFocus.com on 2013-10-10 at 14:28(CST), Thursday

Filename: 2013-10-10-14-28.xls

MNST Beverages - Soft Drinks

Key Statistics:

Price ($) 53.15

Market Cap ($ Million) 8898.8Shares Outstanding ($ Million) 167.404

P/E 28.8

P/B 10.3

P/S 4.4

Growth Rates:

Annual Rates (per share) 10 yrs 5 yrs 12 months

Revenue Growth (%) 35.3 21.2 14.5

EBITDA Growth (%) 45.9 34.1 6.1

Free Cash Flow Growth (%) 49.4 15.9 -19.3

Book Value Growth (%) 41.9 15.5 -23.7

10 Year Financials of MNST - Monster Beverage Corp

All Numbers are in Millions except per share data and ratios

Annual Data:

Fiscal Period End Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09

== Per Share Data =======

Revenue Per Share ($) 0.67 1.06 1.98 3.37 4.96 5.59 6.35

EPS ($) 0.034 0.108 0.324 0.495 0.755 0.555 1.105Tangibles book per share 0.1 0.24 0.6 1.13 2.18 2.2 3.06

EBITDA per Share ($) 0.06 0.2 0.59 0.89 1.28 0.9 1.91

Per Share FCF ($) 0.02 0.11 0.3 0.4 0.7 1.02 0.71

Book Value ($) 0.21 0.34 0.71 1.25 2.32 2.36 3.25

Debt to Equity (%) 0.017 0.01 0.004 0.001 0.002 0.002 0

Shares Outstanding 164.459 170.67 176.448 179.872 182.356 185.03 179.934

ROE (%) 16.9 34.8 50 43.5 35.4 24.8 35.7

ROA (%) 12.4 24.9 38.3 31.8 27.4 14.2 26.1

ROC (%) 18.5 30.1 41.7 34.1 41.9 18 32.6

ROC (%) 51.3 140.8 271.7 194.9 125.5 158.2 179

Dividend Payout (%) 0 0 0 0 0 0 0Gross Margin (%) 39.7 46.3 52.3 52.3 51.7 52.1 53.6

Operating Margin (%) 8.9 18.8 29.6 26.2 25.5 15.8 29.5

Pre-Tax Margin (%) 8.8 18.8 30 26.8 26.5 16.8 29.4

Net Margin (%) 5.4 11.3 18 16.2 16.5 10.5 18.3

COGS to Revenue 0.6 0.54 0.48 0.48 0.48 0.48 0.46

Inventory to Revenue 0.16 0.124 0.09 0.127 0.109 0.113 0.095

Interest Exp. to Revenue) -0.066 -0.023 -0.022 0 0 0 0

Debt to Revenue 0.005 0.003 0.002 0.001 0.001 0.001 0


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Accts Rec. to Asset 0.112 0.154 0.175 0.177 0.15 0.178 0.136

Days Sales Outstanding 17.8 25.6 30.1 32.9 32.9 48 34.8

Days Inventory 96.7 84.4 68.9 97.2 82.1 85.8 74.3

Inventory Turnover 3.8 4.3 5.3 3.8 4.4 4.3 4.9

Cash & Equiv. to Asset 0.023 0.256 0.449 0.444 0.023 0.375 0.434

Net PPE to Asset 0.058 0.036 0.023 0.018 0.016 0.019 0.042

Equity to Asset 0.73 0.714 0.766 0.73 0.775 0.573 0.731Tanbile Equity to Total Liability 1.294 1.715 2.772 2.448 3.252 1.253 2.563

Current Liabilities to Asset 0.198 0.228 0.201 0.204 0.152 0.246 0.105

Long Term Debt to Asset 0.007 0.002 0 0 0 0 0

Asset Turnover 2.299 2.199 2.129 1.964 1.661 1.357 1.429

== Income Statement =======

Revenue 110.352 180.341 348.886 605.774 904.465 1033.78 1143.299

Cost of Goods Sold ($Mil) 66.577 96.875 166.343 289.18 436.452 494.986 530.983

Gross Profit ($Mil) 43.775 83.466 182.543 316.594 468.013 538.794 612.316

SGA ($Mil) 33.887 49.507 79.03 158.015 237.027 0 0

R&D ($Mil) 0 0 0 0 0 0 0

DDA ($Mil) 0.646 0.843 1.079 1.594 2.184 3.472 5.907

EBITDA ($Mil) 10.472 34.729 104.522 160.173 233.17 167.063 343.216

Operating Income ($Mil) 9.826 33.886 103.443 158.579 230.986 163.591 337.309

Non Operating Income ($Mil) -0.067 0.052 1.352 3.66 8.77 9.886 -1.614

Interest Expense ($Mil) -0.073 -0.042 -0.077 0 0 0 0

Pretax Income ($Mil) 9.759 33.938 104.795 162.239 239.756 173.477 335.695

Net Income ($Mil) 5.93 20.387 62.776 97.949 149.406 108.032 208.716

Preferred Dividends ($Mil) 0 0 0 0 0 0 0

Dividends Per Share ($) 0 0 0 0 0 0 0

== Balance Sheet =======

Cash and Short Term Investment 1.099 20.976 73.515 136.796 12.44 285.946 346.836Account Receivable ($Mil) 5.373 12.65 28.752 54.624 81.497 135.955 108.905

Inventory ($Mil) 17.644 22.406 31.4 77.013 98.14 116.326 108.143

Other Current Assets ($Mil) 2.562 4.348 6.619 6.724 78.072 23.097 21.62

Total Current Assets ($Mil) 26.678 60.38 140.286 275.157 270.149 561.324 585.504

Net PP&E ($Mil) 2.803 2.964 3.743 5.565 8.567 14.389 33.314

Intangibles ($Mil) 18.294 18.352 19.103 21.202 24.066 28.365 33.512

Other Long-Term Assets ($Mil) 0.222 0.326 0.758 6.448 241.821 157.759 147.74

Investment for Property, Plant -1.627 -1.26 -1.52 -4.901 -7.028 -11.072 -28.769

Total Assets ($Mil) 47.997 82.022 163.89 308.372 544.603 761.837 800.07

Accounts Payable ($Mil) 8.59 17.957 32.442 55.229 75.821 186.375 83.523

Cash Flow from Acquisitions 0 0 0 0 0 0 0Other Financing -2.22E-16 0 0 17.284 29.454 4.334 3.131

Current Portion of Long-Term D 0.244 0.437 0.515 0.299 0.663 0.959 0.206

Common Stock ($Mil) 0.053 0.056 0.113 0.464 0.479 0.484 0.486

Additional Paid-In Capital 12.681 15.814 19.918 48.892 96.749 117.106 137.04

Other Current Liab. ($Mil) 0.648 0.347 0 7.315 6.397 0 0

Total Current Liabilities ($Mil) 9.482 18.741 32.957 62.843 82.881 187.334 83.729

Long-Term Debt ($Mil) 0.358 0.146 0.01 0.004 0 0 0

Other Long-Term Liab. ($Mil) 3.107 4.564 5.414 20.441 39.555 138.187 131.388


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Total Liabilities ($Mil) 12.947 23.451 38.381 83.288 122.436 325.521 215.117

Capital Surplus ($Mil) 0 0 0 0 0 0 0

Preferred Stock ($Mil) 0 0 0 0 0 0 0

Retained Earnings ($Mil) 23.13 43.517 106.293 204.242 353.647 461.68 670.396

Treasury Stock ($Mil) -0.815 -0.815 -0.815 -28.514 -28.662 -132.129 -218.302

Total Equity ($Mil) 35.05 58.571 125.509 225.084 422.167 436.316 584.953

== Cash Flow Statement =======Net Income ($Mil) 5.93 20.387 62.776 97.949 149.406 108.032 208.716

DDA ($Mil) 0.646 0.843 1.079 1.594 2.184 3.472 5.907

Cash Flow from Disc. Op. ($Mil) 0 0 0 0 0 0 0

Cash Flow Others ($Mil) 0.033 0.593 0.266 -8.691 -19.208 10.16 15.323

Cash Flow from Operations ($Mi 5.484 20.051 54.649 76.414 135.451 199.496 156.192

Cash Flow from CPEX ($Mil) -1.627 -1.26 -1.52 -4.901 -7.028 -11.072 -28.769

Cash Flow from Investing ($Mil) -2.438 -1.471 3.216 -95.231 -194.727 143.982 -4.469

Cashflow Net Issuance of Stock ( 0.748 1.72 1.168 -23.816 8.043 -101.21 -83.671

Cashflow Issuance of Debt ($Mil -3.234 -0.422 -1.055 -1.176 -0.91 -1.17 -1.539

Cashflow Net Issuance of Prefer 0 0 0 0 0 0 0

Cashflow from Dividends ($Mil) 0 0 0 0 0 0 0

Cashflow from Financing ($Mil) -2.486 1.298 0.113 -7.708 36.587 -98.046 -82.079

Net Change in Cash ($Mil) 0.561 19.877 57.978 -26.525 -22.689 244.361 71.548

Free Cash Flow ($Mil) 3.857 18.791 53.129 71.513 128.423 188.424 127.423

== Valuation Ratios =======

PE Ratio(ttm) 15.03 21.07 30.59 34.16 29.29 30.93 17.36

Price to Tangible Book 5.26 9.9 16.42 14.9 10.35 7.52 6.17

Price-to-Free-Cash-Flow ratio 26.3 22.76 32.84 42.1 31.19 16.44 26.67

PS Ratio 0.79 2.17 4.98 5.01 4.46 3 3.02

EV-to-Revenue 0.79 2.09 4.81 4.78 4.54 2.69 2.68

EV-to-EBITDA 8.32 10.84 16.04 18.08 17.6 16.66 8.92EV-to-EBIT 8.87 11.11 16.21 18.27 17.77 17.01 9.07

Earnings Yield (Joel Greenblatt) 11.3 9 6.2 5.5 5.6 5.9 11

Forward Rate of Return 0.45 9.03 51.77 125.89 130.26 77.63 34.32

Shiller PE Ratio 19.73 54.09 104.96 95.1 70.58 43.66 33.49

== Valuation and Quality =======

Market Cap 86.50543 388.4449 1738.189 3029.044 4038.274 3102.028 3454.733

Enterprise Value 87.10743 389.0279 1738.714 3029.347 4038.937 3102.987 3454.939

Net Cash (per share) -0.07 -0.01 0.2 0.3 -0.6 -0.21 0.73

Net Current Asset Value (per sh 0.01 0.11 0.41 0.74 0 0.65 1.49

DCF (per share) 0.33 0.64 1.69 3.12 5.52 8.19 10.84

Median PS (per share) 2.42 3.79 7.15 12.13 17.91 20.18 22.96Peter Lynch Fair Value (per shar 0.38 0.78 8.05 12.33 18.9 13.55 27.65

Graham Number (per share) 0.29 0.8 2.2 3.73 6.34 5.38 8.94

Enterprise value per share 0.526 2.276 9.851 16.84 22.145 16.775 19.2

Altman Z-Score 8.13 15.07 33.28 27.33 24.65 9.24 14.24

Piotroski F-Score 6 7 7 4 3 4 5

Beneish M-Score -2.51 -1.77 -1.47 -1.6 -0.1 -2.91 -1.97

Shares Outstanding (diluted) 164.459 170.67 176.448 179.872 182.356 185.03 179.934

Month End Stock Price 0.526 2.276 9.851 16.84 22.145 16.765 19.2


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Income Statement

Earnings Change (growth of rev) 63.4% 93.5% 73.6% 49.3% 14.3% 10.6%

Gross Profit margin (>40%) 39.7% 46.3% 52.3% 52.3% 51.7% 52.1% 53.6%SGA (


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Quarterly Data:

Dec-10 Dec-11 Dec-12 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04

7.37 9.67 11.86 0.2 0.16 0.19 0.27 0.3

1.14 1.53 1.86 0.012 0.007 0.012 0.027 0.0314.43 5.28 3.39 0.1 0.1 0.11 0.15 0.18

2.03 2.69 3.29 0.02 0.01 0.02 0.05 0.06

1.17 1.72 1.37 0 0 0.01 0.02 0.05

4.68 5.56 3.71 0.2 0.21 0.22 0.26 0.29

0 0 0 0.019 0.017 0.015 0.015 0.011

177.028 176.212 173.712 164.061 166.645 166.956 168.331 173.059

25.6 29.2 52.8 25.2 14 23.2 47.2 46.8

19.6 21 32.6 17.6 10.4 16.4 30.4 30

21.7 22.6 34.7 26.4 15.2 22.8 38.8 37.2

170 238.8 186 80 38.8 73.6 158.8 219.6

0 0 0 0 0 0 0 052.2 52.5 51.7 39.9 40.4 44.4 45.1 45.2

26.7 26.8 26.7 10.6 7 11.6 18.2 18.9

26.8 26.8 26.6 10.6 7 11.6 18.2 18.8

16.3 16.8 16.5 6.3 4.6 7 11 11

0.48 0.47 0.48 0.6 0.6 0.56 0.55 0.55

0.118 0.091 0.099 0.409 0.664 0.552 0.426 0.374

-0.058 -0.045 0 0 0 0 0 0

0 0 0 0.005 0.006 0.004 0.004 0.003


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0.094 0.161 0.227 0.214 0.112 0.176 0.203 0.185

28.4 46.9 41.9 27.8 18.4 27.5 26.7 24.8

89.7 70.2 74.5 61.9 101.5 90.4 70.5 62.2

4.1 5.2 4.9 1.5 0.9 1 1.3 1.5

0.554 0.566 0.306 0.021 0.023 0.052 0.112 0.224

0.032 0.033 0.066 0.057 0.058 0.054 0.05 0.044

0.766 0.719 0.618 0.704 0.73 0.694 0.646 0.6433.094 2.429 1.478 1.116 1.294 1.159 1.053 1.141

0.119 0.195 0.277 0.235 0.198 0.238 0.296 0.307

0 0 0 0.008 0.007 0.006 0.005 0.002

1.205 1.25 1.975 0.7 0.553 0.582 0.691 0.682

1303.942 1703.23 2060.702 33.291 26.566 31.299 46.064 52.641

623.702 808.921 995.046 20.004 15.826 17.391 25.305 28.832

680.24 894.309 1065.656 13.287 10.74 13.908 20.759 23.809

332.426 0 515.033 9.743 8.852 10.243 12.335 13.865

0 0 0 0 0 0 0 0

11.776 17.084 20.562 0.164 0.193 0.208 0.188 0.214

359.59 473.507 571.185 3.692 2.056 3.852 8.592 10.139

347.814 456.423 550.623 3.528 1.863 3.644 8.404 9.925

-0.758 -0.772 0.787 -0.009 -0.01 -0.011 -0.008 -0.008

-0.758 -0.772 0 0 0 0 0 0

349.302 457.27 549.154 3.519 1.853 3.634 8.396 9.917

212.029 286.219 340.02 2.094 1.226 2.183 5.078 5.799

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

599.491 770.613 319.556 0.976 1.099 2.815 7.473 17.279101.635 218.741 236.71 10.156 5.373 9.473 13.507 14.32

153.241 155.613 203.106 13.609 17.644 17.281 19.614 19.703

43.786 37.71 75.696 2.059 2.562 2.742 4.204 3.973

898.153 1182.677 835.068 26.8 26.678 32.311 44.798 55.275

34.551 45.151 69.137 2.716 2.803 2.913 3.302 3.379

43.316 48.396 54.648 17.761 18.294 18.281 18.268 18.263

106.111 86.175 84.472 0.287 0.222 0.266 0.284 0.323

-22.397 -30.684 -49.236 -0.428 -0.327 -0.308 -0.395 -0.253

1082.131 1362.399 1043.325 47.564 47.997 53.771 66.652 77.24

118.42 254.507 275.85 10.22 8.59 10.597 15.84 20.357

0 0 0 0 0 0 0 012.374 3.824 19.656 -0.001 -0.001 0.001 0 1.11E-16

0.274 0 0 0.232 0.244 0.211 0.327 0.416

0.494 0.994 1.019 0.053 0.053 0.053 0.054 0.055

187.04 229.301 287.953 12.335 12.681 12.781 13.451 14.263

10.14 11.583 12.695 0.71 0.648 2 3.592 2.933

128.834 266.09 288.545 11.162 9.482 12.808 19.759 23.706

0 0 0 0.392 0.358 0.334 0.325 0.152

124.899 117.151 110.383 2.533 3.107 3.297 3.487 3.689


31/372

253.733 383.241 398.928 14.087 12.947 16.439 23.571 27.547

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

882.425 1168.644 1508.664 21.904 23.13 25.313 30.391 36.19

-241.842 -418.234 -1155.31 -0.815 -0.815 -0.815 -0.815 -0.815

828.398 979.158 644.397 33.477 35.05 37.332 43.081 49.693

212.029 286.219 340.02 2.094 1.226 2.183 5.078 5.799

11.776 17.084 20.562 0.164 0.193 0.208 0.188 0.214

0 0 0 0 0 0 0 0

7.099 16.404 7.986 0 0.022 -0.004 2.22E-16 0.231

229.044 333.827 287.676 1.036 0.568 2.019 4.461 9.417

-22.397 -30.684 -49.236 -0.428 -0.327 -0.308 -0.395 -0.253

-212.51 -173.027 271.849 -0.834 -0.769 -0.344 -0.42 -0.296

-2.716 -156.074 -716.655 0.184 0.347 0.099 0.671 0.813

-0.42 -1.942 -2.076 -0.163 -0.022 -0.058 -0.054 -0.127

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

9.238 -154.192 -699.075 0.02 0.324 0.042 0.617 0.686

26.493 4.489 -136.817 0.222 0.123 1.716 4.658 9.806

206.647 303.143 238.44 0.608 0.241 1.711 4.066 9.164

22.87 30.05 28.47 13.04 15.03 20.33 27.36 19.58

5.91 8.61 15.14 3.65 5.26 7.95 10.58 8.38

22.15 26.78 38.57 36.5 26.3 87.4 52.9 18.85

3.55 4.77 4.46 0.57 0.79 1.21 1.94 1.64

3.1 4.26 4.17 0.57 0.79 1.2 1.9 1.56

11.24 15.31 15.06 6.83 8.32 10.97 14.31 9.9111.62 15.88 15.62 7.34 8.87 11.61 14.93 10.25

8.6 6.3 6.4 13.6 11.3 8.6 6.7 9.8

25.15 26.85 29.55 0.41 0.45 -0.96 -0.74 3.03

34.92 47.79 44.1 14.02 19.73 30.81 49.13 41.57

4627.512 8118.087 9178.942 59.88227 87.65527 145.9195 267.1413 260.973

4627.786 8118.087 9178.942 59.53027 87.15827 143.6495 260.3203 244.262

1.95 2.2 -0.46 -0.08 -0.07 -0.08 -0.1 -0.06

2.82 3.57 1.15 0.01 0.01 0.01 0.02 0.06

14.56 19.09 20.55 0.33 0.33 0.35 0.42 0.55

26.61 34.87 42.78 2.31 2.42 2.6 2.96 3.3225.1 37.11 46.4 0.33 0.38 0.47 0.7 1.04

10.93 13.89 12.23 0.25 0.28 0.34 0.46 0.58

26.14 46.07 52.84 0.365 0.526 0.864 1.547 1.408

15.24 16.92 19.78 6.33 8.13 9.4 10.81 9.87

4 4 2 6 6 6 6 7

0 0 -2.17 -1.59 -2.51 -2.02 -1.95 -2.52

177.028 176.212 173.712 164.061 166.645 166.956 168.331 173.059

26.14 46.07 52.84 0.365 0.526 0.874 1.587 1.508


32/372

TTM TTM Test

14.1% 30.6% 21.0% 3.3% AZ AT AN

52.2% 52.5% 51.7% 51.9%25.5% 0.0% 25.0% 26.5% AZ 52

1.7% 1.9% 1.9% 1.9% AY 51

-0.2% -0.2% 0.0% -1.5% AX 50

26.7% 26.8% 26.7% 49.0% AW 49

16.3% 16.8% 16.5% 29.3% AV 48

1.6% 35.0% 18.8% -4.6% AU 47

3.2% 34.2% 21.6% -0.8% AT 46

-1.6% -0.5% -1.4% -4.2% AS 45

*********************** AR 44

AQ 43

172.4% 168.8% 58.0% AP 42

AO 41

41.7% 1.5% 30.5% AN 40

1.6% 35.0% 18.8% AM 39

7.8% 12.8% 11.5% AL 38

AK 37

29.3% 11.7% 12.9% AJ 36

19.6% 21.0% 32.6% AI 35

AH 34

0.274 0 0

0 0 00.306294 0.391399 0.619072 recent rec-1 rec-2 rec-3

31.6% 32.4% 29.1% 52 51 50 49

19.8% 20.5% 18.9%

***********************

these are the test for capex test

10.6% -158.494 1491.464

-2.716 -156.074 -716.655


33/372


34/372

Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06

0.29 0.34 0.49 0.6 0.55 0.66 0.87 0.99 0.84

0.038 0.046 0.079 0.104 0.093 0.105 0.14 0.135 0.1130.23 0.28 0.37 0.49 0.6 0.72 0.99 1 1.13

0.07 0.09 0.15 0.19 0.17 0.19 0.26 0.24 0.2

0.02 0.05 0.02 0.09 0.14 0.13 0 0.21 0.06

0.34 0.39 0.48 0.59 0.71 0.83 1.1 1.11 1.25

0.01 0.008 0.01 0.007 0.004 0.005 0.003 0.002 0.001

174.296 174.971 175.611 176.96 177.595 181.568 179.824 181.018 180.106

50 52 72.4 76.8 58.8 56.4 57.2 52.8 39.6

35.6 35.6 50.4 55.6 45.2 41.2 42.4 34 28.8

43.2 42 56.8 59.6 48.8 44.4 43.2 35.6 30.8

198 250 271.6 318.4 312.8 358.4 268.4 256.8 175.2

0 0 0 0 0 0 0 0 049.6 50.5 52.6 52.5 53 52.6 51.9 51.6 53.1

23.7 24.5 29.7 31.8 30.4 29.1 29.3 23.7 23.6

23.8 24.7 30 32.2 31.1 29.7 29.9 24.3 24.2

14.6 14.7 17.8 19.2 18.8 17.6 18.1 14.8 14.7

0.5 0.49 0.47 0.48 0.47 0.47 0.48 0.48 0.47

0.445 0.391 0.325 0.274 0.32 0.245 0.322 0.452 0.509

0 0 0 0 0 0 0 0 0

0.003 0.002 0.002 0.002 0.001 0.002 0.001 0.001 0.001


35/372

0.154 0.202 0.262 0.237 0.175 0.227 0.229 0.222 0.177

22.9 30.6 33.8 29.7 26.7 35.2 35.5 35.1 32.8

80.4 71.9 62.4 52.4 62 47.1 61 84.9 98.8

1.1 1.3 1.5 1.7 1.5 1.9 1.5 1.1 0.9

0.256 0.306 0.276 0.344 0.449 0.479 0.432 0.407 0.444

0.036 0.028 0.027 0.026 0.023 0.022 0.022 0.019 0.018

0.714 0.68 0.695 0.724 0.766 0.735 0.743 0.646 0.731.715 1.553 1.779 2.166 2.772 2.425 2.617 1.644 2.448

0.228 0.27 0.263 0.239 0.201 0.236 0.239 0.314 0.204

0.002 0.002 0.001 0 0 0 0 0 0

0.614 0.601 0.706 0.725 0.598 0.587 0.586 0.575 0.491

50.337 60.014 85.441 105.421 98.01 119.746 156.037 178.647 151.344

25.347 29.685 40.513 50.078 46.067 56.748 75.047 86.463 70.922

24.99 30.329 44.927 55.344 51.943 62.998 80.99 92.184 80.422

13.063 15.592 19.558 21.752 22.128 28.169 35.238 49.842 44.766

0 0 0 0 0 0 0 0 0

0.234 0.198 0.261 0.289 0.331 0.328 0.382 0.446 0.438

12.147 14.922 25.616 33.864 30.12 35.157 46.134 42.788 36.094

11.913 14.724 25.355 33.575 29.789 34.829 45.752 42.342 35.656

0.079 0.118 0.254 0.323 0.657 0.702 0.872 1.047 1.04

0 0 0 0 0 0 0 0 0

11.992 14.841 25.609 33.899 30.447 35.531 46.624 43.389 36.696

7.327 8.845 15.246 20.245 18.44 21.091 28.2 26.457 22.201

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

20.976 30.574 33.428 49.934 73.515 97.72 115.001 126.633 136.79612.65 20.168 31.704 34.418 28.752 46.303 60.939 68.917 54.624

22.406 23.451 27.801 28.856 31.4 29.39 50.297 80.683 77.013

4.348 3.762 5.68 9.266 6.619 5.923 14.269 7.607 6.724

60.38 77.955 98.613 122.474 140.286 179.336 240.506 283.84 275.157

2.964 2.799 3.311 3.719 3.743 4.559 5.761 5.975 5.565

18.352 18.338 18.324 18.411 19.103 19.092 19.078 20.208 21.202

0.326 0.736 0.769 0.737 0.758 0.865 0.832 0.784 6.448

-0.304 -0.364 -0.45 -0.444 -0.262 -0.548 -1.421 -1.622 -1.31

82.022 99.828 121.017 145.341 163.89 203.852 266.177 310.807 308.372

17.957 21.623 31.141 34.09 32.442 36.202 63.049 79.583 55.229

0 0 0 0 0 0 0 0 00 0 0.001 0 2.78E-17 0.642 15.514 0.953 0.175

0.437 0.355 0.67 0.718 0.515 0.79 0.582 0.496 0.299

0.056 0.056 0.056 0.113 0.113 0.114 0.115 0.463 0.464

15.814 16.307 17.217 18.161 19.918 23.218 42.978 46.908 48.892

0.347 5.017 0.001 0 0 11.099 0 17.649 7.315

18.741 26.995 31.812 34.808 32.957 48.091 63.631 97.728 62.843

0.146 0.168 0.165 0.013 0.01 0.008 0.006 0.005 0.004

4.564 4.755 4.974 5.265 5.414 5.851 4.678 12.176 20.441


36/372

23.451 31.918 36.951 40.086 38.381 53.95 68.315 109.909 83.288

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

43.517 52.361 67.607 87.796 106.293 127.384 155.584 182.041 204.242

-0.815 -0.815 -0.815 -0.815 -0.815 -0.815 -0.815 -28.514 -28.514

58.571 67.91 84.066 105.255 125.509 149.902 197.862 200.898 225.084

7.327 8.845 15.246 20.245 18.44 21.091 28.2 26.457 22.201

0.234 0.198 0.261 0.289 0.331 0.328 0.382 0.446 0.438

0 0 0 0 0 0 0 0 0

0.365 0.046 0.228 0.09 -0.098 1.961 1.751 -14.278 1.875

4.154 9.594 3.282 17.022 24.751 23.778 1.017 39.763 11.856

-0.304 -0.364 -0.45 -0.444 -0.262 -0.548 -1.421 -1.622 -1.31

-0.41 -0.248 16.892 -9.192 -4.236 -56.013 -30.28 11.817 -20.755

0.136 0.494 0.201 0.341 0.131 0.754 2.52 -27.261 0.171

-0.183 -0.242 -0.222 -0.317 -0.274 -0.277 -0.345 -0.302 -0.252

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

-0.047 0.252 -0.02 0.024 -0.143 1.119 17.689 -26.61 0.094

3.697 9.598 20.154 7.854 20.372 -31.117 -11.573 24.97 -8.805

3.85 9.23 2.832 16.578 24.489 23.23 -0.404 38.141 10.546

21.07 26.39 27.29 22.04 30.59 41.35 53.84 34.33 34.16

9.9 13.38 14.31 12.01 16.42 21.88 24.04 16.24 14.9

22.76 26.76 37.82 32.69 32.84 41.46 66.1 33.83 42.1

2.17 3.12 3.73 3.42 4.98 6.85 8.88 5.29 5.01

2.09 2.99 3.61 3.29 4.81 6.76 8.69 5.09 4.78

10.84 13.66 14.28 11.46 16.04 22.15 28.67 18.25 18.0811.11 13.91 14.49 11.6 16.21 22.37 28.93 18.42 18.27

9 7.2 6.9 8.6 6.2 4.5 3.5 5.4 5.5

9.03 16.76 27.57 39.24 51.77 70.01 89.09 107.87 125.89

54.09 75.62 85.59 74.16 104.96 139.55 173.49 102.14 95.1

396.6977 655.6163 929.8602 1041.41 1749.488 2860.785 4279.092 2939.732 3032.985

376.3047 625.5653 897.2672 992.2066 1676.498 2763.863 4164.679 2813.6 2896.492

-0.01 -0.01 -0.02 0.06 0.2 0.24 0.26 0.09 0.3

0.1 0.15 0.19 0.28 0.41 0.51 0.65 0.6 0.74

0.64 0.83 0.94 1.25 1.69 2.1 2.33 2.85 3.12

3.79 4.33 5.13 6.21 7.15 8.3 9.67 11.08 12.130.78 2.22 4.85 6.68 8.05 9.53 11.05 11.83 12.33

0.78 0.99 1.34 1.8 2.18 2.59 3.31 3.42 3.72

2.156 3.577 5.105 5.605 9.441 15.226 23.156 15.54 16.08

15.07 17.26 20.3 21.19 33.28 37.5 42.81 21.03 27.33

7 8 7 7 7 7 7 4 4

-1.77 -1.93 -1.28 -1.05 -1.47 -1.54 -1.49 -1.94 -1.6

174.296 174.971 175.611 176.96 177.595 181.568 179.824 181.018 180.106

2.276 3.747 5.295 5.885 9.851 15.756 23.796 16.24 16.84


37/372


38/372


39/372

Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09

0.92 1.36 1.35 1.33 1.14 1.52 1.54 1.39 1.35

0.105 0.195 0.23 0.226 0.145 0.255 0.27 -0.128 0.221.25 1.54 1.89 2.14 2.29 2.33 2.65 2.23 2.52

0.18 0.34 0.4 0.35 0.23 0.43 0.45 -0.21 0.37

0.26 0.01 0.2 0.24 0.13 0.25 0.32 0.32 -0.04

1.37 1.67 2.02 2.27 2.42 2.46 2.78 2.38 2.68

0.001 0.002 0.002 0.002 0.001 0.001 0.001 0.002 0.002

180.118 180.236 183.144 185.89 186.628 185.822 184.674 183.008 180.866

32.8 50.8 49.6 42.8 25.6 44 40.8 -21.6 34.4

22 33.6 36 33.2 19.6 33.6 32.8 -12.4 22.8

23.6 36 37.2 50.4 29.2 43.2 40 -15.6 29.2

202.4 235.6 250.8 139.6 135.6 234.4 226.8 -151.6 165.6

0 0 0 0 0 0 0 0 051.6 52.4 51.9 51 49.4 51.8 52.4 54.4 53.3

19.2 25.1 29.7 26.1 20.2 27.7 28.7 -15.4 26.9

20.2 25.8 30.6 27.4 21.9 28.7 29.4 -14.9 25.9

12.2 15.7 18.5 18.3 13.6 17.8 18.4 -9.2 17

0.48 0.48 0.48 0.49 0.51 0.48 0.48 0.46 0.47

0.371 0.357 0.38 0.398 0.517 0.437 0.388 0.457 0.451

0 0 0 0 0 0 0 0 0

0 0.001 0.001 0.001 0.001 0 0.001 0.001 0.001


40/372

0.205 0.246 0.177 0.15 0.14 0.139 0.114 0.178 0.164

41.4 41.6 33.1 30.1 35.1 26.9 23.3 48.6 44.8

69.9 68.3 72 73.9 93 82.4 74.2 91.3 87.9

1.3 1.3 1.3 1.2 1 1.1 1.2 1 1

0.498 0.436 0.503 0.023 0.272 0.341 0.401 0.375 0.388

0.015 0.015 0.017 0.016 0.015 0.015 0.017 0.019 0.024

0.672 0.662 0.728 0.775 0.774 0.761 0.803 0.573 0.6621.863 1.807 2.51 3.252 3.232 3.014 3.878 1.253 1.845

0.237 0.251 0.192 0.152 0.16 0.175 0.138 0.246 0.149

0 0 0 0 0 0 0 0 0

0.45 0.539 0.486 0.453 0.363 0.47 0.445 0.334 0.333

165.853 244.763 247.211 246.639 212.178 282.244 284.986 254.372 244.206

80.216 116.51 118.829 120.897 107.459 136.031 135.55 115.947 114.027

85.637 128.253 128.382 125.742 104.719 146.213 149.436 138.425 130.179

53.727 66.83 55.002 61.468 61.891 68.023 67.644 0 0

0 0 0 0 0 0 0 0 0

0.444 0.503 0.583 0.654 0.744 0.822 1.035 0.871 1.101

32.354 61.926 73.963 64.928 43.572 79.012 82.827 -38.347 66.878

31.91 61.423 73.38 64.274 42.828 78.19 81.792 -39.218 65.777

1.526 1.752 2.161 3.331 3.626 2.769 2.111 1.38 -3.539

0 0 0 0 0 0 0 0 0

33.436 63.175 75.541 67.605 46.454 80.959 83.903 -37.838 63.254

20.198 38.311 45.797 45.1 28.811 50.232 52.437 -23.448 41.565

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

183.202 198.095 255.445 12.44 159.108 205.019 256.436 285.946 284.09875.496 111.928 90.046 81.497 81.758 83.404 72.972 135.955 120.104

61.581 87.498 94.025 98.14 109.784 123.218 110.466 116.326 110.101

7.684 11.552 21.684 78.072 18.754 22.516 37.371 23.097 18.731

327.963 409.073 461.2 270.149 369.404 434.157 477.245 561.324 533.034

5.511 6.778 8.404 8.567 8.833 9.238 11.067 14.389 17.677

22.412 23.555 23.922 24.066 24.375 24.723 25.512 28.365 28.993

12.32 15.093 14.764 241.821 181.287 132.354 126.322 157.759 152.986

-1.447 -2.533 -1.777 -1.271 -1.209 -1.402 -3.21 -5.251 -4.014

368.206 454.499 508.29 544.603 583.899 600.472 640.146 761.837 732.69

69.807 111.532 97.149 75.821 79.664 91.651 81.942 186.375 107.821

0 0 0 0 0 0 0 0 00 9.461 18.042 2.122 1.047 1.127 0.024 2.136 1.205

0.212 0.59 0.67 0.663 0.438 0.313 0.673 0.959 1.149

0.464 0.468 0.477 0.479 0.48 0.483 0.484 0.484 0.485

51.032 66.422 89.9 96.749 100.676 105.919 110.352 117.106 122.06

17.399 2.026 0 6.397 13.038 13.298 5.74 0 0

87.418 114.148 97.819 82.881 93.14 105.262 88.355 187.334 108.97

0.003 0 0 0 0 0 0 0 0

33.363 39.352 40.188 39.555 39.08 38.174 37.656 138.187 138.373


41/372

120.784 153.5 138.007 122.436 132.22 143.436 126.011 325.521 247.343

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

224.44 262.751 308.548 353.647 382.459 432.691 485.128 461.68 503.245

-28.514 -28.642 -28.642 -28.662 -28.662 -78.628 -78.628 -132.129 -132.129

247.422 300.999 370.283 422.167 451.679 457.036 514.135 436.316 485.347

20.198 38.311 45.797 45.1 28.811 50.232 52.437 -23.448 41.565

0.444 0.503 0.583 0.654 0.744 0.822 1.035 0.871 1.101

0 0 0 0 0 0 0 0 0

2.202 -7.158 -15.844 1.592 1.049 2.568 4.049 2.494 5.131

48.031 4.099 37.972 45.349 25.928 47.195 63.102 63.271 -3.708

-1.447 -2.533 -1.777 -1.271 -1.209 -1.402 -3.21 -5.251 -4.014

-11.094 -33.529 -55.477 -94.627 11.271 133.243 10.142 -10.674 23.201

0 3.769 3.273 0.83 0.808 -49.502 0.453 -52.969 1.031

-0.211 -0.173 -0.218 -0.308 -0.319 -0.285 -0.238 -0.328 -0.397

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

-0.211 13.057 21.097 2.644 1.536 -48.66 0.239 -51.161 1.839

36.726 -16.373 3.592 -46.634 38.735 131.778 73.483 0.365 22.322

46.584 1.566 36.195 44.078 24.719 45.793 59.892 58.02 -7.722

38.42 39.22 44.07 29.29 22.17 17.07 16.88 30.93 29.17

15.15 13.95 14.99 10.35 7.71 6.27 5.71 7.52 7.14

35.74 39.8 53.47 31.19 30.43 17.82 16.09 16.44 21.18

5.23 5.23 6.34 4.46 3.41 2.74 2.74 3 3.1

4.95 4.96 6.1 4.54 3.3 2.54 2.47 2.69 2.79

20.52 21.23 24.15 17.6 12.83 9.6 9.39 16.66 15.6220.74 21.45 24.39 17.77 12.96 9.71 9.5 17.01 15.94

4.8 4.7 4.1 5.6 7.7 10.3 10.5 5.9 6.3

133.14 138.46 137.91 130.26 118.11 106.44 94.95 77.63 62.48

95.64 91.82 104.03 70.58 51.73 37.15 34.47 43.66 42.52

3411.435 3873.272 5190.301 4116.534 3293.984 2715.789 2793.194 3068.129 3255.588

3228.448 3675.767 4935.526 4104.757 3135.314 2511.083 2537.431 2783.142 2972.639

0.35 0.25 0.64 -0.59 0.14 0.33 0.71 -0.22 0.2

0.83 0.96 1.27 0 0.77 1 1.3 0.66 1.01

3.84 4.07 4.81 5.52 5.95 6.6 7.66 8.19 8.36

13.07 14.84 16.14 17.91 18.7 19.28 19.96 20.18 20.9412.33 13.7 16.08 18.9 19.9 21.4 22.4 13.55 15.43

3.89 4.54 5.42 6.22 6.6 6.92 7.54 5.44 6.16

17.92 20.39 26.95 22.085 16.8 13.515 13.745 15.205 16.44

21.81 19.67 27.25 24.65 19.55 16.22 18.19 9.24 11.89

5 3 5 3 4 3 4 4 5

-2.1 -1.86 -1.83 -0.1 -0.79 -1.61 -1.75 -2.91 -2.42

180.118 180.236 183.144 185.89 186.628 185.822 184.674 183.008 180.866

18.94 21.49 28.34 22.145 17.65 14.615 15.125 16.765 18


42/372


43/372


44/372

Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11

1.66 1.71 1.64 1.35 2.06 2.16 1.8 2 2.61

0.3 0.3 0.286 0.175 0.345 0.36 0.263 0.295 0.452.87 2.94 3.11 3.39 3.6 4.07 4.42 4.54 5.11

0.52 0.52 0.49 0.3 0.63 0.63 0.47 0.52 0.77

0.15 0.47 0.14 0.36 0.3 0.22 0.3 0.08 0.53

3.04 3.11 3.3 3.6 3.83 4.31 4.67 4.8 5.37

0.001 0.001 0 0 0 0 0 0.002 0.001

181.208 180.308 177.456 176.694 177.174 176.738 177.508 177.858 176.95

41.6 40.4 36.4 20.4 37.6 34.8 23.6 25.6 35.6

29.2 28.4 26.8 14.4 26.4 26 18 19.6 27.2

36.4 35.6 33.2 17.2 30.8 29.6 20 21.2 30

196.8 230.4 182 128 256.8 212.8 156 143.2 225.6

0 0 0 0 0 0 0 0 053.9 53.6 53.4 52.3 52.9 51.9 51.6 52.1 52.8

30.9 30.2 29.5 21.3 30 28.2 25 24.8 28.7

31 30.1 29.7 21.7 30.1 28.1 25.2 24.9 28.7

19.1 18.4 18.3 13.7 17.5 17.4 15.4 15.4 18.2

0.46 0.46 0.47 0.48 0.47 0.48 0.48 0.48 0.47

0.391 0.403 0.372 0.5 0.381 0.39 0.481 0.487 0.339

0 0 0 0 0 0 0 0 0

0.001 0 0 0 0 0 0 0.001 0.001


45/372

0.16 0.121 0.136 0.131 0.136 0.128 0.094 0.132 0.132

38.2 28.8 34.1 45 32.7 31.4 29 38 32

77.1 78.9 72.6 95.5 73.5 73.8 90.4 92.5 65.5

1.2 1.2 1.3 1 1.2 1.2 1 1 1.4

0.399 0.434 0.434 0.485 0.489 0.52 0.554 0.525 0.567

0.03 0.035 0.042 0.036 0.033 0.032 0.032 0.034 0.033

0.7 0.7 0.731 0.706 0.703 0.742 0.766 0.754 0.772.203 2.202 2.563 2.261 2.23 2.719 3.094 2.903 3.191

0.13 0.134 0.105 0.151 0.165 0.136 0.119 0.137 0.131

0 0 0 0 0 0 0 0 0

0.382 0.384 0.364 0.264 0.379 0.372 0.294 0.315 0.375

300.25 307.929 290.914 238.11 365.701 381.466 318.665 356.419 462.145

138.421 142.897 135.638 113.556 172.351 183.54 154.255 170.882 217.924

161.829 165.032 155.276 124.554 193.35 197.926 164.41 185.537 244.221

0 0 0 0 0 0 0 97.082 111.739

0 0 0 0 0 0 0 0 0

1.19 1.694 1.922 2.654 2.82 3.012 3.29 3.593 4.102

93.973 94.609 87.756 53.439 112.496 110.567 83.087 92.048 136.584

92.783 92.915 85.834 50.785 109.676 107.555 79.797 88.455 132.482

0 -0.342 2.266 0.576 -0.713 -0.727 0.106 0.297 -0.35

0 0 0 0 0 0 0 0 0

93.184 92.756 86.501 51.771 109.997 107.369 80.166 88.756 132.756

57.289 56.505 53.357 32.563 63.838 66.496 49.132 55.043 84.248

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

313.573 347.844 346.836 437.224 471.573 533.832 599.491 594.49 699.415125.907 97.289 108.905 117.705 131.48 131.778 101.635 149.004 162.299

117.344 123.942 108.143 119.145 139.233 148.938 153.241 173.725 156.778

22.89 19.446 21.62 24.962 26.927 27.985 43.786 38.6 35.643

579.714 588.521 585.504 699.036 769.213 842.533 898.153 955.819 1054.135

23.835 28.075 33.314 32.267 32.038 33.173 34.551 39.037 40.931

29.819 31.674 33.512 36.93 39.752 42.23 43.316 45.3 46.677

153.129 153.024 147.74 132.703 123.892 108.744 106.111 91.836 91.827

-8.063 -7.837 -8.855 -4.868 -5.78 -6.073 -5.676 -8.519 -7.177

786.497 801.294 800.07 900.936 964.895 1026.68 1082.131 1131.992 1233.57

101.316 107.35 83.523 126.239 149.331 129.837 118.42 142.896 149.545

0 0 0 0 0 0 0 0 00.886 0.128 0.912 6.474 0.17 3.548 2.182 0.19 0.954

0.772 0.381 0.206 0.174 0.135 0.244 0.274 1.623 1.255

0.486 0.486 0.486 0.489 0.49 0.492 0.494 0.494 0.495

127.185 131.045 137.04 152.988 157.204 170.916 187.04 195.185 206.833

-1.42E-14 0 0 9.229 9.452 9.696 10.14 10.728 11.05

102.088 107.731 83.729 135.642 158.918 139.777 128.834 155.247 161.85

0 0 0 0 0 0 0 0 0

134.134 132.604 131.388 129.324 127.513 124.929 124.899 123.192 121.376


46/372

236.222 240.335 215.117 264.966 286.431 264.706 253.733 278.439 283.226

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

560.535 617.039 670.396 702.959 766.797 833.293 882.425 937.468 1021.716

-132.129 -183.086 -218.302 -218.302 -241.842 -241.842 -241.842 -280.704 -280.704

550.275 560.959 584.953 635.97 678.464 761.974 828.398 853.553 950.344

57.29 56.504 53.357 32.563 63.838 66.496 49.132 55.043 84.248

1.19 1.694 1.922 2.654 2.82 3.012 3.29 3.593 4.102

0 0 0 0 0 0 0 0 0

2.97 3.414 -99.114 -2.06 5.487 1.527 -160.752 3.217 3.529

34.695 92.195 33.01 68.003 58.72 44.092 58.229 23.613 100.353

-8.063 -7.837 -8.855 -4.868 -5.78 -6.073 -5.676 -8.519 -7.177

-31.548 -7.492 11.37 -31.105 -0.043 44.596 -225.958 -48.505 13.574

0.307 -50.558 -34.451 4.524 -23.043 5.886 9.917 -34.615 7.061

-0.486 -0.416 -0.24 -0.162 -0.077 -0.069 -0.112 -0.249 -0.447

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

0.707 -50.846 -33.779 10.836 -22.95 9.365 11.987 -34.674 7.568

4.16 34.374 10.692 47.559 34.003 99.718 -154.787 -59.337 122.692

26.632 84.358 24.155 63.135 52.94 38.019 52.553 15.094 93.176

23.31 26.55 17.36 20.44 17.68 19.99 22.87 23.84 29.59

5.38 6.25 6.17 6.4 5.43 5.73 5.91 6.63 7.92

20.57 20.41 26.67 19.37 15.4 22.85 22.15 33.46 35.82

2.6 3.01 3.02 3.41 2.89 3.23 3.55 3.75 4.72

2.29 2.68 2.68 2.99 2.49 2.81 3.1 3.35 4.26

12.09 13.66 8.92 10.3 8.59 9.85 11.24 11.96 15.3112.35 13.97 9.07 10.53 8.82 10.13 11.62 12.36 15.83

8.1 7.2 11 9.5 11.3 9.9 8.6 8.1 6.3

49.97 39.64 34.32 30.49 27.55 26.23 25.15 25.82 26.03

32.49 34.86 33.49 36.14 29.72 32.73 34.92 37.49 46.48

2796.039 3312.258 3407.155 3832.493 3464.638 4119.763 4640.059 5356.194 7162.051

2483.238 2964.795 3060.525 3395.443 2993.2 3586.175 4040.842 4763.327 6463.891

0.43 0.6 0.74 0.97 1.04 1.52 1.95 1.78 2.35

1.27 1.34 1.51 1.81 1.99 2.5 2.81 2.89 3.48

8.99 10.23 10.84 11.98 12.82 13.64 14.56 14.72 16.5

21.44 22.06 22.96 22.96 24.4 26.03 26.61 28.95 30.9416.55 17.3 27.65 26.53 26.82 26.76 25.1 27.77 31.07

6.75 6.95 9.07 9.29 9.72 10.59 10.9 11.61 12.87

13.7 16.44 17.25 19.22 16.895 20.29 22.76 26.785 36.525

11.06 12.32 14.24 12.97 11.54 13.68 15.24 15.93 19.53

5 5 5 6 4 4 4 4 5

-2.01 -2.29 -1.97 -2.59 -2.72 0 0 0 0

181.208 180.308 177.456 176.694 177.174 176.738 177.508 177.858 176.95

15.43 18.37 19.2 21.69 19.555 23.31 26.14 30.115 40.475


47/372


48/372


49/372

Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13

2.7 2.35 2.6 3.36 3.1 2.79 2.93 3.79

0.44 0.348 0.41 0.59 0.47 0.386 0.37 0.625.03 5.35 5.82 6.45 4.78 3.49 3.89 4.78

0.78 0.62 0.75 0.99 0.83 0.71 0.68 1.11

0.57 0.54 0.12 0.38 0.57 0.3 0.2 0.23

5.3 5.62 6.1 6.74 5.08 3.82 4.24 5.14

0.001 0 0 0 0 0 0 0

175.952 174.1 174.832 176.186 175.026 168.807 165.525 166.447

35.2 26.4 28.4 36.8 38.8 42 36.4 50

27.2 18.8 20.8 27.6 26 26 22 32.4

29.6 20.4 22 29.2 27.6 27.6 23.6 34

242 216.4 209.6 226.4 202 154 127.6 180

0 0 0 0 0 0 0 052.7 52.3 53.1 51.8 50.5 51.7 52.1 53.3

27.8 25.2 27.8 28.6 26 24.2 22.2 28.4

27.6 25.5 27.9 28.6 26.1 23.7 21.8 27.9

17.4 15.7 16.7 18.5 15.9 14.4 13.1 16.9

0.47 0.48 0.47 0.48 0.5 0.48 0.48 0.47

0.346 0.38 0.394 0.336 0.358 0.431 0.445 0.37

0 0 0 0 0 0 -0.924 -0.55

0.001 0 0 0 0 0 0 0


50/372

0.115 0.161 0.174 0.191 0.219 0.227 0.277 0.264

26.8 48.6 51.3 47 48.6 45.7 59.7 50.2

66.7 72.4 76.4 63.4 65.8 81.2 84.4 72.1

1.4 1.3 1.2 1.4 1.4 1.1 1.1 1.3

0.574 0.566 0.551 0.543 0.448 0.306 0.3 0.328

0.036 0.033 0.038 0.035 0.044 0.066 0.065 0.063

0.765 0.719 0.726 0.742 0.675 0.618 0.611 0.653.096 2.429 2.524 2.749 1.95 1.478 1.443 1.724

0.136 0.195 0.196 0.187 0.24 0.277 0.287 0.263

0 0 0 0 0 0 0 0

0.39 0.301 0.309 0.37 0.411 0.452 0.422 0.479

474.709 409.957 454.605 592.64 541.94 471.517 484.223 630.934

224.402 195.713 213.436 285.632 268.348 227.629 232.184 294.672

250.307 214.244 241.169 307.008 273.592 243.888 252.039 336.262

118.217 0 114.884 137.235 132.907 130.007 144.733 156.835

0 0 0 0 0 0 0 0

4.496 4.893 4.968 5.125 5.171 5.298 5.06 5.277

136.586 108.29 131.253 174.898 145.856 119.179 112.366 184.704

132.09 103.397 126.285 169.773 140.685 113.881 107.306 179.427

-0.799 0.078 0.396 -0.033 0.222 0.202 2.571 0.066

0 0 0 0 0 0 -4.473 -3.468

131.228 104.53 126.631 169.713 141.238 111.572 105.404 176.025

82.392 64.536 76.099 109.795 86.142 67.983 63.496 106.873

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

699.412 770.613 811.026 870.23 590.708 319.556 344.672 432.036139.545 218.741 256.424 306.393 289.253 236.71 317.655 348.197

164.481 155.613 179.127 199.053 193.934 203.106 215.337 233.549

35.294 37.71 37.886 38.581 55.042 75.696 59.035 80.04

1038.732 1182.677 1284.463 1414.257 1128.937 835.068 936.699 1093.822

44.07 45.151 55.689 55.944 57.574 69.137 74.596 83.529

47.466 48.396 49.132 50.875 52.851 54.648 57.999 59.725

88.16 86.175 81.461 80.441 79.56 84.472 78.078 80.766

-8.42 -6.568 -15.291 -7.092 -7.92 -18.933 -12.094 -15.504

1218.428 1362.399 1470.745 1601.517 1318.922 1043.325 1147.372 1317.842

153.501 254.507 276.366 287.77 304.678 275.85 316.687 331.963

0 0 0 0 0 0 0 02.219 0.461 0.492 2.43 1.373 15.361 0.176 28.707

0.994 0 0 0 0 0 0 0

0.496 0.994 1.003 1.004 1.013 1.019 1.019 1.028

220.331 229.301 238.908 252.44 262.805 287.953 297.409 347.653

11

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