fundamental analysis - mxef50 index (msci em 50) members & index analysis
DESCRIPTION
Fundamental Analysis - MXEF50 Index (MSCI EM 50) Members & Index AnalysisTRANSCRIPT
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October 2012
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Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD)
Minority
Interest
(USD)
Cash and
Equivalents
(USD)
Enterprise
Value
(USD)
Tot. Rev. -
LFY
Est. Tot.
Rev. - Tr.
12M
Est. Tot.
Rev. - 2013
Est. Tot.
Rev. - 2014 EBITDA - LFY
Est. EBITDA -
Tr. 12M
Est. EBITDA -
2013
Est. EBITDA -
2014 EPS - LFY
Est. EPS -
Tr. 12M
Est. EPS -
2013
Est. EPS -
2014
P/E Ratio -
LFY
Est. P/E
Ratio - Tr.
12M
Est. P/E
Ratio - 2013
Est. P/E
Ratio - 2014
Est.
Revenue
Growth - 1Y
Est.
Revenue
Growth - 5Y
Est. EBITDA
Growth - 1Y
Est. Est.
EBITDA
Growth - 5Y
Est. EBITDA
Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Rating
Moody's LT Credit
Rating Date
S&P 500 INDEX USD 13319369 1851.307 1092 1092 202 212 212 98.94 105.02 105.02 14.56 14.56 13.71 13.71 19.13
Euro Stoxx 50 Pr EUR 2389912 5545.264 4642 4642 764 790 790 154.55 307.12 307.12 27.85 14.77 14.02 14.01 21.02
NIKKEI 225 JPY 2116769 167.1154 227 227 23 24 24 5.14 7.59 7.59 0.27 0.22 0.18 0.18 0.14
FTSE 100 INDEX GBP 2593232 11355.09 9623 9623 1569 1647 1647 718.72 826.16 826.16 21.17 19.99 18.42 18.42 26.07
SWISS MARKET INDEX CHF 911923 10685.77 3992 3992 814 796 796 389.66 525.43 525.43 20.16 19.85 14.95 14.95 22.48
S&P/TSX COMPOSITE INDEX CAD 1668638 16877.13 7806 7806 1953 1983 1983 821.02 845.22 845.22 15.34 15.34 14.90 14.90 25.46
S&P/ASX 200 INDEX AUD 1244677 6119.921 2877 2877 637 708 708 269.66 346.65 346.65 17.59 14.80 13.68 13.68 23.51
HANG SENG INDEX HKD 1584425 3139.939 1449 1449 346 362 362 256.70 245.96 245.96 1.38 1.50 1.44 1.44 3.13
MSCI EM USD 7310309 1379.294 965 965 182 182 182 79.49 87.18 87.18 12.52 12.92 11.42 11.42 18.97
SAMSUNG ELECTR-GDR REG S USD 178085 36 4797 119 0 14630 #VALUE! 120815977 131592518 #VALUE! #VALUE! 18987465 21893496 - - - - #VALUE! #VALUE! - - #VALUE! #VALUE! 7.63 16.73 -6.68 8.52 15.72 A 25.01.2006 A1 14.07.2005
TAIWAN SEMICONDUCTOR-SP ADR USD 79252 13757 48 0 0 89 #VALUE! 418245 438601 #VALUE! #VALUE! 241831 254952 - - - - #VALUE! #VALUE! - - #VALUE! #VALUE! 2.77 13.24 1.52 4.61 57.82 A+ 20.04.2010 - -
CHINA MOBILE LTD HKD 217060 21078 20072 4 0 0 43 128.70 68124 70246 72456 77053 33185 33043 8840 8840 0.83 0.82 0.80 0.81 1.38 - 1.40 1.38 1.14 1.28 0.82 1.24 6.29 AA- 16.12.2010 WR 03.11.2005
CHINA CONSTRUCTION BANK-H HKD 182590 322939 250011 156 0 1 357 #VALUE! 74257 84450 57862 63007 - - - - 0.09 0.10 0.10 0.10 0.80 0.80 0.80 0.78 3.61 2.70 - - - A 29.11.2011 - -
GAZPROM OAO-SPON ADR USD 117125 13540 1540 0 297 525 #VALUE! 4637090 4545221 4708414 4948964 1970093 1783269 457803 457803 - - 103.08 102.46 - - 2.96 2.98 28.91 16.79 40.73 15.57 42.49 BBB 29.11.2006 Baa1 03.04.2009
AMERICA MOVIL-ADR SERIES L USD 99406 4054 381 0 10 59 #VALUE! 665302 733604 746540 783292 248773 259750 65745 65745 - - 24.58 27.32 - - 13.62 12.25 9.45 22.29 2.21 23.67 37.39 A- 22.03.2010 A2 26.03.2010
PETROLEO BRASILEIRO-SPON ADR USD 148665 7236 156 2 58 #VALUE! 244176 262088 283172 295086 61582 56472 16947 16947 - - 4.47 5.47 - - 10.17 8.30 15.26 11.56 3.82 2.90 25.22 BBB 17.11.2011 - -
IND & COMM BK OF CHINA-H HKD 214731 294400 349084 248 0 0 463 #VALUE! 90881 101847 68179 74432 - - - - 0.08 0.08 0.08 0.09 0.81 - 0.80 0.76 3.80 2.45 - - - A 28.08.2012 - -
CNOOC LTD HKD 91820 37823 44659 5 0 0 13 66.42 31087 30274 30070 31266 15359 14707 6959 6959 0.20 0.18 0.19 0.19 1.19 - 1.14 1.14 4.36 4.46 2.77 2.43 6.37 AA- 16.12.2010 - -
VALE SA-SP PREF ADR USD 97211 5545 49 0 3 8 #VALUE! 103195 98143 94656 103328 57579 48392 9068 9068 - - 4.52 5.35 - - 7.98 6.74 24.00 57.41 24.55 25.11 55.80 A- 23.11.2011 Baa2 29.08.2008
ITAU UNIBANCO HLDNG-PREF ADR USD 66919 9865 331 0 1 137 #VALUE! 129875 136108 82519 91287 - - - - - - 3.27 3.78 - - 9.10 7.89 22.04 32.61 - - - BBB 30.04.2008 (P)Baa1 20.06.2011
TENCENT HOLDINGS LTD HKD 62085 1400 1822 2 0 0 3 47.77 3677 4592 5585 7206 1723 2008 619 619 0.71 0.78 0.93 1.18 4.47 - 3.76 2.96 5.81 8.44 3.70 7.80 6.05 BBB+ 14.11.2011 Baa1 14.11.2011
LUKOIL OAO-SPON ADR USD 53500 1273 9 0 0 3 #VALUE! 134 K 137 K 130 K 130 K 17628 16139 18342 18342 - - 13.98 13.58 - - 4.50 4.63 55.27 24.87 9.83 7.90 13.19 BBB- 12.11.2010 - -
HYUNDAI MOTOR CO KRW 45261 584 209 4 0 0 9 37.44 38633 38633 40855 41821 5638 5638 - - - 15.77 33.51 34.73 0.01 - 0.01 0.01 0.01 0.01 0.03 0.02 0.01 BBB+ 20.03.2012 NR 11.08.2010
COMPANHIA DE BEBIDAS-PRF ADR USD 114628 1996 4 0 0 9 #VALUE! 27127 28814 31471 34614 13164 - 3467 3467 - - 3.33 3.66 - - 24.85 22.62 7.50 8.72 13.58 15.49 48.53 A 05.07.2012 A3 27.04.2010
MTN GROUP LTD ZAr 33712 3278 1848 4 0 0 5 34.57 14006 15142 15638 16604 6017 6567 6819 6819 1.21 1.30 1.42 1.58 1.58 1.59 1.45 1.30 0.72 1.73 1.19 2.14 4.94 - - - -
BANK OF CHINA LTD-H HKD 118641 316596 279136 247 0 4 404 #VALUE! 66335 74603 46915 51178 - - - - 0.06 0.06 0.06 0.06 0.69 - 0.70 0.70 3.88 2.35 - - - A 29.11.2011 - -
BANCO BRADESCO-ADR USD 54293 6940 27 0 94 #VALUE! 98695 159025 69298 77454 - - - - - - 3.21 3.47 - - 9.84 9.11 26.44 19.15 - - - BBB 30.04.2008 Baa1 20.06.2011
HON HAI PRECISION-GDR REG S USD 35241 101 155 0 0 75 #VALUE! 2773311 3105477 #VALUE! #VALUE! 41133 50360 - - - - #VALUE! #VALUE! - - #VALUE! #VALUE! 19.89 24.17 -8.71 2.71 1.48 A- 09.11.2007 - -
PETROCHINA CO LTD-H HKD 258392 102772 183021 41 0 10 8 264.86 258540 270722 267239 286183 41722 41850 - - 0.10 0.09 0.10 0.11 1.57 1.54 1.48 1.34 4.74 3.34 0.84 0.55 2.08 - - - -
SBERBANK-SPONSORED ADR USD #VALUE! 9 1349 4 3 762 #VALUE! 1058036 1196188 856001 947006 - - - - - - 91.18 95.26 - - 4.01 3.84 7.84 23.67 - - - - - A3 24.02.2009
NASPERS LTD-N SHS ZAr 25889 580 412 2 0 0 1 26.83 4537 4537 5406 6179 825 825 823 823 1.31 1.49 2.19 2.66 4.84 5.51 3.28 2.71 2.22 1.84 1.75 0.91 2.09 - - - -
SASOL LTD ZAr 28469 1159 664 2 0 0 2 29.16 19471 19471 20187 20444 4304 - - - 4.40 4.86 5.02 5.00 1.04 1.15 1.01 1.01 2.18 1.05 - 1.36 3.02 - - - -
CHINA LIFE INSURANCE CO-H HKD 83661 17821 28265 6 0 0 7 #VALUE! 47784 45392 47597 52618 - - - - 0.08 0.07 0.11 0.15 4.60 4.60 2.89 2.15 -0.51 2.64 - - - AA- 16.12.2010 - -
POSCO-ADR USD 27900 119 11641 0 0 2187 #VALUE! 39171703 39171703 #VALUE! #VALUE! 6100453 6100453 - - - - #VALUE! #VALUE! - - #VALUE! #VALUE! 20.22 15.57 -18.68 2.28 15.57 A- 31.10.2011 A3 *- 25.07.2012
INFOSYS LTD-SP ADR USD 25594 2270 574 0 0 0 208 1127.70 337340 337340 389029 421229 107490 107490 27929 27929 145.82 145.83 159.25 167.19 16.15 16.16 14.79 14.09 22.66 19.71 19.77 18.94 31.86 BBB+ 07.05.2010 - -
FOMENTO ECONOMICO MEX-SP ADR USD 33195 424 30 0 58 28 #VALUE! 203044 220972 234228 264876 33445 33690 9808 9808 - - 43.94 52.37 - - 27.00 22.66 19.65 12.68 19.31 6.27 16.47 - - - -
HYUNDAI MOBIS KRW 26376 139 96 2 0 0 2 25.35 14348 14348 21757 24004 2093 2093 - - 16.47 16.49 33.23 37.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.01 BBB+ 20.03.2012 - -
ICICI BANK LTD-SPON ADR USD 22991 980 1769 14 412 #VALUE! 666620 666620 218285 259993 - - - - - - 142.75 172.19 - - 14.81 12.28 8.28 11.32 - - - NR 27.10.2003 Baa2 25.05.2006
CHINA PETROLEUM & CHEMICAL-H HKD 85239 57159 86703 31 0 5 3 111.50 317881 332141 326599 342847 22058 20247 - - 0.11 0.08 0.09 0.11 1.25 - 1.19 0.94 4.04 3.11 -0.52 1.20 0.90 A+ 16.12.2010 - -
KIA MOTORS CORPORATION KRW 24530 1496 404 3 0 0 2 24.23 25056 25056 27175 28534 2346 2346 - - 4.15 4.09 9.71 10.57 0.01 0.01 0.01 0.01 0.02 0.01 0.01 0.03 0.01 BBB+ 20.03.2012 WR 17.01.2008
STANDARD BANK GROUP LTD ZAr 19355 2140 1589 16 1 1 19 #VALUE! 12393 13154 7649 8471 - - - - 0.95 1.05 1.09 1.24 1.32 1.38 1.27 1.12 0.22 1.18 - - - - - - -
SHINHAN FINANCIAL GROUP-ADR USD 16014 28 7039 274 0 2220 #VALUE! 2124112 2124112 #VALUE! #VALUE! 2051750 2051750 - - - - #VALUE! #VALUE! - - #VALUE! #VALUE! 103.58 12.35 112.50 1.01 96.59 - - - -
PING AN INSURANCE GROUP CO-H HKD 56680 7556 7916 42 0 5 12 31.57 35182 41221 38020 43784 - - - - 0.32 0.34 0.41 0.48 2.45 - 2.01 1.71 5.14 2.87 - - - - - - -
CHINA SHENHUA ENERGY CO-H HKD 73310 8504 19890 8 0 5 8 64.80 26862 29543 30234 33058 10872 11202 - - 0.30 0.32 0.30 0.33 1.31 1.31 1.40 1.29 4.14 3.44 2.16 2.55 5.22 - - - -
LG CHEM LTD KRW 18944 244 66 1 0 0 1 19.91 17892 18483 #VALUE! #VALUE! 2796 2353 - - 25.46 19.33 23.73 29.64 0.01 0.01 0.01 0.01 0.02 0.01 0.00 0.03 0.01 A- 24.11.2010 - -
ANGLOGOLD ASHANTI LTD ZAr 13333 407 383 2 0 0 1 14.86 5498 6175 6761 8253 2349 2674 717 717 2.72 3.77 3.57 5.00 1.05 1.26 1.11 0.79 2.67 2.17 12.68 3.42 4.91 BBB- 09.04.2010 - -
KB FINANCIAL GROUP INC-ADR USD 13236 84 180 0 #VALUE! #VALUE! #VALUE! 26999 26999 #VALUE! #VALUE! -19210 -19210 - - - - #VALUE! #VALUE! - - #VALUE! #VALUE! -79.46 - - - -71.15 - - - -
MEDIATEK INC TWD 14646 9935 1140 0 0 0 1 13.61 1841 1876 #VALUE! #VALUE! 227 195 - - 0.42 0.39 0.44 0.64 0.94 - 0.84 0.58 -0.86 -0.08 -2.25 -0.80 0.42 - - - -
CHUNGHWA TELECOM LTD-ADR USD 24335 171 0 0 0 64 #VALUE! 192462 191292 #VALUE! #VALUE! 83155 79916 - - - - 52.06 54.40 - - 17.60 16.84 3.25 -0.13 -6.99 -3.28 43.21 AA 30.12.2010 - -
GRUPO TELEVISA SA-SPON ADR USD 13526 2209 57 0 7 22 #VALUE! 62582 66397 67983 73650 24252 26056 7128 7128 - - 12.49 14.95 - - 24.25 20.25 8.17 - 9.43 8.10 38.75 BBB+ 02.10.2007 Baa1 02.05.2007
BRF - BRASIL FOODS SA-ADR USD 15923 1624 8 0 0 3 #VALUE! 25706 26571 27845 30341 2878 2412 492 492 - - 0.98 1.85 - - 37.80 20.09 13.34 41.54 24.04 52.90 11.20 BBB- 04.04.2012 Baa3 31.05.2012
NOVATEK OAO-SPONS GDR REG S USD 36679 180 95 0 1 24 #VALUE! 176064 190145 217832 275608 88917 91324 22409 22409 - - 234.71 298.31 - - 15.89 12.50 50.45 - 58.22 31.24 50.50 BBB- 19.11.2010 - -
FORMOSA PLASTICS CORP TWD 16740 6815 6121 2 0 0 2 16.83 6414 5996 6115 6596 1123 712 181 181 - 0.07 0.12 0.17 1.27 - 0.80 0.54 -0.12 -0.01 -0.37 0.39 0.60 BBB+ 30.12.2010 - -
URALKALI-SPON GDR-REG S USD 23788 986 3 0 0 1 #VALUE! 3496 4465 4247 5012 2068 2809 - - - - 2.80 3.57 - - 14.48 11.36 105.72 55.16 158.40 45.69 59.16 BBB- 18.06.2012 - -
SK HYNIX INC KRW 14325 3902 596 5 0 0 1 17.15 9202 8769 9000 10372 2120 1189 - - 0.25 -1.73 -0.44 1.15 - - #VALUE! 0.02 -0.01 0.01 -0.05 -0.01 0.02 BB- 14.02.2012 Ba3 15.02.2012
CHINA STEEL CORP TWD 13575 7880 14972 3 0 0 0 16.66 8218 7894 7424 7669 1050 632 174 174 0.05 0.01 0.02 0.04 2.68 - 1.55 0.87 0.02 0.30 -1.35 -0.29 0.44 - - - -
HYUNDAI HEAVY INDUSTRIES KRW 16131 239 61 4 0 0 1 20.12 22597 22597 27010 29201 2815 2815 498 498 24.98 28.68 26.69 25.54 0.01 0.01 0.01 0.01 0.01 0.01 -0.02 0.02 0.01 - - - -
GOLD FIELDS LTD ZAr 9042 793 724 2 0 0 1 10.53 4812 5274 5313 6407 2424 2681 - - 1.17 1.33 1.29 1.95 1.07 1.00 1.10 0.73 3.75 2.15 9.80 3.97 5.79 BBB- 19.03.2009 - -
IMPALA PLATINUM HOLDINGS LTD ZAr 10974 921 607 0 0 0 0 11.36 3171 3171 3640 4334 1329 - - - 0.79 0.79 0.71 0.97 2.54 2.52 2.80 2.07 -1.92 0.28 - 1.06 4.01 - - - -
Valuation Measures I/II
Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 %D to Spot
S&P 500 INDEX 2.13 2.13 1.94 1.78 2.13 1.32 1.32 1.27 1.21 1.32 9.37 9.37 8.53 8.18 9.37 8.73 8.73 8.12 7.55 8.73 13.71 13.71 12.35 11.07 13.71 2.19 2.19 2.38 2.56 2.19 1589.7 10.4%
Euro Stoxx 50 Pr 1.13 1.13 1.06 1.00 1.13 0.71 0.71 0.69 0.67 0.71 5.17 5.17 4.87 4.53 5.17 7.02 7.02 6.67 6.35 7.02 10.74 10.74 9.78 8.88 10.74 4.26 4.26 4.72 5.08 4.26 2711.6 7.3%
NIKKEI 225 1.06 1.06 0.99 0.93 1.06 0.49 0.49 0.46 0.46 0.49 6.20 6.20 5.69 5.45 6.20 6.88 6.88 6.29 5.94 6.88 14.52 14.52 12.80 10.48 14.52 2.32 2.32 2.34 2.75 2.32 9887.1 13.6%
FTSE 100 INDEX 1.63 1.63 1.51 1.40 1.63 0.98 0.98 0.95 0.94 0.98 7.51 7.51 6.86 6.33 7.51 6.89 6.89 6.34 5.98 6.89 11.43 11.43 10.35 9.53 11.43 4.03 4.03 4.29 4.58 4.03 6360.3 8.6%
SWISS MARKET INDEX 2.15 2.15 2.00 1.85 2.15 1.82 1.82 1.72 1.63 1.82 11.85 11.85 10.24 9.18 11.85 13.43 13.43 12.35 11.49 13.43 13.86 13.86 12.41 11.30 13.86 3.47 3.47 3.83 4.16 3.47 7089.0 5.0%
S&P/TSX COMPOSITE INDEX 1.72 1.72 1.59 1.46 1.72 1.59 1.59 1.48 1.42 1.59 8.71 8.71 7.79 7.12 8.71 8.51 8.51 7.41 6.95 8.51 14.69 14.69 12.78 11.62 14.69 2.98 2.98 3.12 3.31 2.98 14140.3 15.6%
S&P/ASX 200 INDEX 1.68 1.68 1.59 1.50 1.68 1.60 1.60 1.49 1.41 1.60 9.77 9.77 8.91 8.28 9.77 8.64 8.64 7.66 7.11 8.64 13.32 13.32 11.91 10.97 13.32 4.86 4.86 5.22 5.62 4.86 4684.7 4.3%
HANG SENG INDEX 1.38 1.38 1.27 1.16 1.38 1.89 1.89 1.74 1.61 1.89 7.01 7.01 6.50 6.18 7.01 8.67 8.67 7.89 7.26 8.67 11.12 11.12 10.30 9.30 11.12 3.48 3.48 3.72 4.07 3.48 22628.3 6.7%
MSCI EM 1.51 1.51 1.36 1.23 1.51 1.03 1.03 0.95 0.89 1.03 7.08 7.08 6.38 5.73 7.08 7.58 7.58 6.78 6.20 7.58 11.42 11.42 9.91 8.96 11.42 2.89 2.89 3.10 3.43 2.89 1131.7 13.7%
SAMSUNG ELECTR-GDR REG S 940.00 55.5%
TAIWAN SEMICONDUCTOR-SP ADR 17.53 15.07 -1.4%
CHINA MOBILE LTD 2.10 1.89 1.71 1.57 1.43 2.59 2.42 2.28 2.13 2.01 5.95 5.79 5.58 5.25 5.03 3.96 3.95 3.85 3.70 3.63 10.88 10.86 10.72 10.37 9.66 3.97 4.02 4.09 4.32 4.66 86.49 3.3%
CHINA CONSTRUCTION BANK-H 1.42 1.23 1.08 0.95 2.86 2.55 2.34 2.10 1.92 4.46 3.99 3.73 3.38 6.82 6.19 6.04 5.48 4.99 5.40 5.42 5.53 6.23 10.02 6.44 13.4%
GAZPROM OAO-SPON ADR 0.46 0.42 0.38 0.35 0.31 0.81 0.77 0.73 0.73 0.69 2.72 2.24 2.63 2.31 2.07 3.08 2.96 2.98 3.28 3.06 4.68 5.08 5.31 5.30 6.06 13.98 41.3%
AMERICA MOVIL-ADR SERIES L 3.67 4.12 3.43 2.94 1.94 1.70 1.62 1.55 1.45 7.03 6.52 5.75 5.45 14.00 13.62 12.25 11.46 12.10 1.13 1.17 1.76 2.20 2.70 29.26 11.8%
PETROLEO BRASILEIRO-SPON ADR 0.91 0.87 0.83 0.81 1.23 1.07 1.02 1.12 1.09 5.01 4.19 4.15 7.63 10.17 8.30 7.91 10.55 3.09 3.60 3.31 3.22 29.65 32.8%
IND & COMM BK OF CHINA-H 1.44 1.24 1.09 0.95 2.86 2.55 2.33 2.11 1.90 4.59 4.02 3.72 3.37 6.67 6.16 5.90 5.40 4.87 5.45 5.55 5.78 6.29 9.13 5.48 12.4%
CNOOC LTD 2.18 1.86 1.62 1.44 1.30 2.49 2.47 2.37 2.38 2.18 5.73 5.97 5.87 5.86 6.75 4.22 4.21 4.10 4.09 3.92 8.34 8.85 8.86 8.93 8.44 3.95 2.72 2.90 2.87 3.57 17.27 8.4%
VALE SA-SP PREF ADR 1.42 1.06 0.95 0.86 1.96 2.09 1.91 1.78 1.76 5.97 5.50 6.23 4.82 7.98 6.74 6.50 7.08 7.64 6.82 5.04 5.47 3.80 22.05 24.4%
ITAU UNIBANCO HLDNG-PREF ADR 1.92 1.62 1.41 1.26 1.82 1.65 1.49 1.32 1.15 9.11 9.10 7.89 6.44 2.98 3.48 4.00 5.17 19.23 31.4%
TENCENT HOLDINGS LTD 12.48 9.38 6.83 5.09 3.77 13.77 8.98 6.96 5.58 4.35 31.59 23.98 20.24 16.87 10.65 27.83 20.18 16.01 13.08 11.02 36.96 29.13 22.94 18.49 16.09 0.29 0.36 0.50 0.65 0.66 266.29 2.4%
LUKOIL OAO-SPON ADR 0.72 0.66 0.61 0.61 0.40 0.41 0.41 0.43 0.42 3.21 3.14 3.14 2.98 4.39 4.50 4.63 4.74 3.52 4.03 4.27 4.63 4.74 7.11 80.24 27.6%
HYUNDAI MOTOR CO 1.74 1.52 1.25 1.04 1.24 1.11 1.08 1.01 9.22 6.58 5.96 5.99 5.61 7.99 6.13 5.92 5.55 0.75 0.82 0.85 0.90 0.85 314477.41 38.2%
COMPANHIA DE BEBIDAS-PRF ADR 9.39 9.08 8.70 8.27 7.41 6.73 6.20 5.37 24.61 20.64 19.19 29.20 24.85 22.62 21.10 3.31 3.88 3.83 40.25 -1.1%
MTN GROUP LTD 3.56 3.00 2.80 2.60 2.42 2.16 2.03 1.89 1.66 8.11 7.02 6.51 5.90 5.60 5.08 4.82 4.51 3.89 14.31 12.65 11.35 10.51 9.62 4.53 5.61 6.51 7.11 10.40 16990.77 9.2%
BANK OF CHINA LTD-H 0.96 0.87 0.79 0.71 0.59 2.26 2.04 1.87 1.70 1.51 3.65 3.45 3.18 2.89 2.39 5.76 5.41 5.41 4.99 4.21 6.17 6.29 6.25 6.81 7.66 3.47 12.9%
BANCO BRADESCO-ADR 2.23 1.69 1.48 1.33 1.81 1.59 1.43 1.26 10.84 9.84 9.11 7.78 3.21 3.47 3.78 4.47 18.88 21.6%
HON HAI PRECISION-GDR REG S
PETROCHINA CO LTD-H 1.56 1.47 1.36 1.26 1.12 0.86 0.78 0.73 0.71 0.67 5.24 5.03 4.61 4.46 4.06 6.17 5.86 5.34 4.99 4.39 11.52 11.45 10.36 9.55 8.01 3.86 3.91 4.31 4.57 5.63 11.25 5.1%
SBERBANK-SPONSORED ADR 28.89 2.19 1.85 0.97 0.83 6.39 4.01 3.84 3.45 2.39 0.90 2.06 1.88 1.97
NASPERS LTD-N SHS 4.56 3.98 3.59 3.13 5.75 4.79 4.19 3.68 3.54 31.77 26.33 20.90 12.05 32.51 32.62 28.11 23.19 30.85 28.57 23.59 18.82 0.61 0.72 0.86 1.06 56613.00 3.7%
SASOL LTD 1.82 1.62 1.46 1.33 1.45 1.41 1.39 1.32 1.28 6.04 5.65 5.38 5.95 5.03 5.12 5.09 4.96 4.60 8.22 8.78 8.81 8.55 12.18 4.40 4.72 5.18 5.53 4.87 40019.23 4.3%
CHINA LIFE INSURANCE CO-H 2.69 2.42 2.17 1.94 1.52 1.45 1.42 1.29 1.16 24.82 22.41 16.66 13.81 8.26 1.28 1.43 1.88 2.14 4.07 23.29 -0.4%
POSCO-ADR
INFOSYS LTD-SP ADR 3.84 3.69 3.37 3.08 3.76 3.48 3.21 3.07 13.79 12.76 12.44 12.49 10.11 10.03 9.30 8.86 15.35 14.79 14.09 13.43 1.66 2.47 2.60 3.15 45.24 1.5%
FOMENTO ECONOMICO MEX-SP ADR 3.53 2.88 2.69 2.63 2.14 1.81 1.60 1.43 1.35 14.66 16.71 18.58 26.39 27.00 22.66 19.82 1.26 1.47 1.55 1.64 97.46 5.1%
HYUNDAI MOBIS 2.20 1.75 1.44 1.31 1.83 1.21 1.10 0.85 10.89 10.51 8.41 7.63 6.28 9.00 8.15 7.32 7.40 0.53 0.60 0.63 0.67 0.58 391225.81 30.4%
ICICI BANK LTD-SPON ADR 6.79 5.57 4.67 4.00 18.53 14.81 12.28 1.74 2.13 2.57 44.00 10.0%
CHINA PETROLEUM & CHEMICAL-H 1.16 1.07 0.98 0.89 0.79 0.23 0.21 0.20 0.20 0.18 3.81 3.82 3.27 3.21 2.47 4.94 5.22 4.48 4.19 3.85 7.29 9.19 7.31 6.93 7.13 3.53 3.59 4.24 4.59 4.24 8.15 4.2%
KIA MOTORS CORPORATION 2.09 1.58 1.24 1.01 1.01 0.90 0.86 0.82 8.74 9.61 9.29 8.93 8.93 7.91 6.23 5.73 5.33 0.89 0.99 1.07 1.10 1.16 99570.97 48.6%
STANDARD BANK GROUP LTD 1.66 1.51 1.39 1.27 2.75 2.53 2.28 2.05 7.15 9.19 8.08 6.86 12.35 11.08 9.71 8.51 7.91 3.76 4.33 4.81 5.47 11446.42 9.1%
SHINHAN FINANCIAL GROUP-ADR 97.00 187.2%
PING AN INSURANCE GROUP CO-H 2.97 2.46 2.04 1.90 2.39 1.63 1.20 1.05 0.90 0.96 19.70 15.59 13.22 11.52 8.90 0.95 1.04 1.25 1.44 1.85 71.02 15.8%
CHINA SHENHUA ENERGY CO-H 2.20 1.97 1.75 1.57 1.49 2.25 1.96 1.79 1.68 1.55 7.58 7.61 6.56 6.47 5.97 5.80 5.44 5.17 5.37 11.07 10.84 10.02 9.61 10.06 3.29 3.53 3.88 4.04 3.68 34.36 9.3%
LG CHEM LTD 2.16 0.96 9.11 5.81 9.74 12.05 9.65 8.75 1.35 1.31 1.36 1.42 1.33 384448.28 21.5%
ANGLOGOLD ASHANTI LTD 2.91 2.36 1.76 1.47 2.38 1.97 1.62 1.53 1.90 6.63 5.78 4.84 4.62 6.12 5.64 5.01 3.76 3.48 5.06 10.56 9.68 6.91 6.89 7.78 1.02 1.37 1.68 1.81 1.33 37058.57 23.2%
KB FINANCIAL GROUP INC-ADR 51.00 48.9%
MEDIATEK INC 3.51 20.70 25.31 24.44 17.03 14.67 5.17 4.40 3.02 3.67 4.60 3.23 350.77 10.5%
CHUNGHWA TELECOM LTD-ADR 15.75 17.60 16.84 27.33 -12.9%
GRUPO TELEVISA SA-SPON ADR 4.48 3.01 2.68 2.43 2.88 2.54 2.35 2.18 2.07 20.01 38.14 33.61 58.65 64.24 23.12 24.25 20.26 20.19 11.83 0.96 0.34 0.74 0.96 0.72 25.06 5.8%
BRF - BRASIL FOODS SA-ADR 2.20 2.11 2.11 1.20 1.16 1.07 0.94 0.88 11.49 10.71 11.44 17.33 37.80 20.09 13.03 11.43 0.28 0.78 1.45 2.02 18.40 0.8%
NOVATEK OAO-SPONS GDR REG S 5.78 3.93 3.16 2.62 2.06 6.41 5.20 4.11 3.44 2.90 17.42 13.31 10.82 9.42 7.48 18.29 15.89 12.50 10.67 8.48 1.39 1.83 2.16 2.54 3.95 148.95 23.3%
FORMOSA PLASTICS CORP 1.89 2.12 1.97 1.87 1.73 2.56 2.74 2.54 2.43 9.73 12.14 11.66 11.36 12.73 19.34 15.14 14.56 12.95 23.49 15.83 14.00 6.91 3.46 4.30 5.40 78.37 -2.0%
URALKALI-SPON GDR-REG S 2.52 2.98 2.64 2.38 2.14 6.52 5.60 4.75 4.52 3.95 16.01 11.70 9.54 8.95 8.60 15.60 14.48 11.36 10.67 9.50 2.93 3.52 4.50 4.93 5.65 44.92 10.9%
SK HYNIX INC 1.55 1.62 1.49 1.30 1.46 1.59 1.38 1.18 4.25 5.39 6.03 3.98 3.04 17.66 17.95 10.03 0.46 0.13 0.24 0.35 29000.00 26.9%
CHINA STEEL CORP 1.39 1.38 1.34 1.32 1.46 1.66 1.83 1.77 1.74 1.59 11.11 11.93 11.29 10.18 14.85 20.60 15.87 14.57 14.68 19.82 45.22 25.32 20.17 17.11 4.80 2.13 2.93 3.94 4.85 23.46 -9.8%
HYUNDAI HEAVY INDUSTRIES 1.04 0.97 0.88 0.76 0.71 0.60 0.55 0.45 7.73 6.34 6.01 4.61 5.83 7.70 7.43 5.74 5.15 7.95 8.31 6.55 2.90 1.79 1.84 1.80 1.70 314961.53 34.0%
GOLD FIELDS LTD 1.64 1.51 1.27 1.18 1.90 1.70 1.41 1.43 1.71 5.66 5.41 4.42 5.90 6.12 4.86 4.28 3.22 3.53 5.78 10.07 9.58 6.35 6.88 15.47 2.61 3.10 4.31 3.92 3.06 13038.07 20.9%
IMPALA PLATINUM HOLDINGS LTD 1.84 1.72 1.60 1.49 1.31 3.42 3.02 2.53 2.18 1.70 16.61 14.67 13.02 11.01 8.29 14.44 13.69 10.38 7.76 5.54 22.56 24.36 17.91 11.31 7.48 1.62 1.38 2.61 4.55 8.35 14257.14 -5.7%
Price to Earnings Ratio
Valuation Measures II/II
Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Samsung Electronics Co., Ltd. manufactures a wide range of consumer and
industrial electronic equipment and products such as semiconductors, personal
computers, peripherals, monitors, televisions, and home appliances including air
conditioners and microwave ovens. The Company also produces Internet access
network systems and telecommunications equipment including mobile phones.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (05.10.2012) 630.00
52-Week Low (18.10.2011) 380.00
Daily Volume
604.5
52-Week High % Change -4.05% Dividend Yield -
52-Week Low % Change 59.08% Beta 1.09
% 52 Week Price Range High/Low 84.60% Equity Float -
Shares Out 30.09.2012 294.6 Short Int -
178'084.89 1 Yr Total Return 55.34%
Total Debt 4'796'865.00 YTD Return 31.27%
Preferred Stock 119'467.0 Adjusted BETA 1.086
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 14'630'145.00 Consensus Rating 3.667
Enterprise Value -
Average Volume 5 Day 91'594
SMSN LI EQUITY YTD Change - Average Volume 30 Day 68'965
SMSN LI EQUITY YTD % CHANGE - Average Volume 3 Month 59'524
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
63'175'968.0 72'952'991.0 89'772'834.0 112'249'475.0 120'815'977.0 ######### ######### - - - -
0.99x 0.70x 1.05x 1.02x 1.06x 3.63x 4.11x - - - -
12'999'646.0 11'753'254.0 14'207'387.0 20'345'636.0 18'987'465.0 ######### ######### - - - -
4.82x 4.32x 6.61x 5.60x 6.75x 5.18x 6.88x - - - -
7'425'016.0 5'525'904.0 6'208'140.0 13'236'461.0 10'029'152.0 ######### ######### - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
EBITDA 18'987'465.00 Long-Term Rating Date 25.01.2006
EBIT 9'679'775.00 Long-Term Rating A
Operating Margin 8.01% Long-Term Outlook POS
Pretax Margin 9.51% Short-Term Rating Date 25.01.2006
Return on Assets 8.93% Short-Term Rating A-1
Return on Common Equity 11.76%
Return on Capital 11.50% EBITDA/Interest Exp. 75.22
Asset Turnover 1.08% (EBITDA-Capex)/Interest Exp. 23.73
Net Debt/EBITDA -0.52
Gross Margin 25.2% Total Debt/EBITDA 0.25
EBITDA Margin 15.7%
EBIT Margin 8.0% Total Debt/Equity 5.4%
Net Income Margin 8.3% Total Debt/Capital 5.1%
Asset Turnover 1.08
Current Ratio 1.46 Net Fixed Asset Turnover 2.96
Quick Ratio 1.11 Accounts receivable turnover-days 43.19
Debt to Assets 4.08% Inventory Days 20.60
Tot Debt to Common Equity 5.40% Accounts Payable Turnover Day 26.05
Accounts Receivable Turnover 8.45 Cash Conversion Cycle 37.74
Inventory Turnover 17.72
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Samsung Electronics Co LtdPrice/Volume
Valuation Analysis
35'663.00
Current Price (10/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC Multiple Portfolios MF-AGG 5'409'994 1.84 76'650 30.06.2012 Investment Advisor
SPRUCEGROVE INVESTME SPRUCEGROVE INVESTME 13F 711'813 0.24 (65'557) 30.06.2012 Investment Advisor
UNIVERSAL INVEST CON Multiple Portfolios MF-AGG 168'000 0.06 - 28.09.2012 Investment Advisor
CARNEGIE ASSET MANAG Multiple Portfolios MF-AGG 155'869 0.05 - 29.06.2012 Investment Advisor
JF ASSET MANAGEMENT Multiple Portfolios MF-AGG 105'969 0.04 (16'300) 30.09.2011 Mutual Fund Manager
DELTA LLOYD FUND MAN Multiple Portfolios MF-AGG 92'488 0.03 511 29.06.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 86'926 0.03 3'521 30.06.2012 Investment Advisor
HARDING LOEVNER LP Multiple Portfolios MF-AGG 82'850 0.03 (92'130) 30.06.2012 Investment Advisor
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 81'497 0.03 (7'038) 31.08.2012 Investment Advisor
ODEY ASSET MGMT LTD Multiple Portfolios MF-AGG 78'436 0.03 (2'644) 31.08.2012 Investment Advisor
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 75'105 0.03 - 29.06.2012 Investment Advisor
LEGG MASON INC Multiple Portfolios MF-AGG 71'600 0.02 (20'100) 30.06.2012 Investment Advisor
AGF INVESTMENTS INC Multiple Portfolios MF-AGG 49'595 0.02 (7'724) 30.03.2012 Investment Advisor
DEKA INTERNATIONAL S Multiple Portfolios MF-AGG 46'900 0.02 1'300 31.12.2011 Mutual Fund Manager
ING INVESTMENT MANAG Multiple Portfolios MF-AGG 38'412 0.01 (2'925) 30.06.2012 Investment Advisor
SANFORD C BERNSTEIN Multiple Portfolios MF-AGG 37'870 0.01 - 31.08.2012 Investment Advisor
POLARIS CAPITAL MANA POLARIS CAPITAL MANA 13F 37'652 0.01 - 30.06.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 34'444 0.01 (1'421) 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 34'170 0.01 - 12.10.2012 Investment Advisor
PRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 29'109 0.01 (100) 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co MARK C NEWMAN outperform 5 M 955 12 month 16.10.2012
Jyske Bank ROBERT JAKOBSEN sell 1 M 325 Not Provided 28.03.2012
Holdings By:
Samsung Electronics Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Taiwan Semiconductor Manufacturing Company Ltd. manufactures integrated circuits
based on its proprietary designs. The Company offers a comprehensive set of
integrated circuit fabrication processes to manufacture CMOS logic, mixed-mode,
volatile and non-volatile memory and BiCMOS chips. Taiwan Semiconductor is an
affiliate of Philips Electronics N.V.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (05.10.2012) 16.31
52-Week Low (20.10.2011) 11.64
Daily Volume
15.29
52-Week High % Change -6.25% Dividend Yield -
52-Week Low % Change 31.36% Beta 1.02
% 52 Week Price Range High/Low 78.16% Equity Float -
Shares Out 30.06.2012 5'183.2 Short Int 21.77
79'251.81 1 Yr Total Return 28.84%
Total Debt 48'426.53 YTD Return 22.75%
Preferred Stock 0.0 Adjusted BETA 1.020
Minority Interest 0.0 Analyst Recs 8
Cash and Equivalents 88'580.79 Consensus Rating 2.750
Enterprise Value -
Average Volume 5 Day 10'626'979
TSM US EQUITY YTD Change - Average Volume 30 Day 11'880'975
TSM US EQUITY YTD % CHANGE - Average Volume 3 Month 12'421'711
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
313'647.6 321'767.1 285'742.9 406'963.3 418'245.5 426'546.8 438'601.0 - - - -
4.76x 3.13x 5.41x 4.32x 4.60x 16.14x 18.09x - - - -
185'072.6 180'859.8 168'850.2 238'212.6 241'831.2 250'111.8 254'951.6 - - - -
8.07x 5.56x 9.16x 7.37x 7.96x 7.23x 8.06x - - - -
109'177.1 99'933.2 89'217.8 161'605.0 134'201.3 159'888.1 137'260.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
EBITDA 241'831.19 Long-Term Rating Date 20.04.2010
EBIT 138'905.76 Long-Term Rating A+
Operating Margin 33.21% Long-Term Outlook STABLE
Pretax Margin 34.60% Short-Term Rating Date -
Return on Assets 18.35% Short-Term Rating -
Return on Common Equity 22.30%
Return on Capital 20.91% EBITDA/Interest Exp. 542.36
Asset Turnover 0.57% (EBITDA-Capex)/Interest Exp. 87.63
Net Debt/EBITDA -0.17
Gross Margin 44.4% Total Debt/EBITDA 0.20
EBITDA Margin 57.8%
EBIT Margin 33.2% Total Debt/Equity 7.7%
Net Income Margin 32.1% Total Debt/Capital 7.1%
Asset Turnover 0.57
Current Ratio 1.45 Net Fixed Asset Turnover 1.02
Quick Ratio 0.94 Accounts receivable turnover-days 12.63
Debt to Assets 6.36% Inventory Days 38.04
Tot Debt to Common Equity 7.69% Accounts Payable Turnover Day 15.94
Accounts Receivable Turnover 28.90 Cash Conversion Cycle 34.73
Inventory Turnover 9.60
Fiscal Year Ended
Taiwan Semiconductor Manufacturing Co LtdPrice/Volume
Valuation Analysis
13'756'826.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
350'000.0
400'000.0
450'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011! !!
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ABERDEEN ASSET MANAG ABERDEEN ASSET MANAG 13F 75'524'649 1.46 (3'838'000) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 69'432'502 1.34 4'991'966 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 67'807'123 1.31 (500'000) 30.06.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 65'746'762 1.27 58'116'167 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 65'725'842 1.27 416'130 30.06.2012 Investment Advisor
NOMURA HOLDINGS INC NOMURA HOLDINGS INC 13F 51'495'325 0.99 49'760'715 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 48'725'236 0.94 4'892'963 30.06.2012 Investment Advisor
MASSACHUSETTS FINANC MASSACHUSETTS FINANC 13F 45'745'375 0.88 (3'483'737) 30.06.2012 Investment Advisor
NORTHERN CROSS LLC NORTHERN CROSS LLC 13F 40'810'190 0.79 15'033 30.06.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 38'036'197 0.73 (416'002) 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 35'388'173 0.68 1'469'989 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 32'366'695 0.62 (169'093) 30.06.2012 Investment Advisor
CI INVESTMENTS INC CI INVESTMENTS INC 13F 30'218'522 0.58 (1'625'450) 30.06.2012 Hedge Fund Manager
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 28'163'795 0.54 (141'100) 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 18'193'267 0.35 (15'562'794) 30.06.2012 Investment Advisor
WELLS CAPITAL MANAGE WELLS CAPITAL MANAGE 13F 14'876'854 0.29 1'989'920 30.06.2012 Investment Advisor
SANDERSON ASSET MANA SANDERSON ASSET MANA 13F 14'251'179 0.27 (161'200) 30.06.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 12'840'171 0.25 3'648'620 30.06.2012 Hedge Fund Manager
FISHER INVESTMENTS I FISHER INVESTMENTS 13F 11'700'231 0.23 2'660'890 30.06.2012 Investment Advisor
MONDRIAN INVESTMENT MONDRIAN INVESTMENT 13F 10'759'297 0.21 (2'164'952) 30.06.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Pacific Crest Securities MICHAEL MCCONNELL sector perform 3 M #N/A N/A Not Provided 11.10.2012
Susquehanna Financial Group MEHDI HOSSEINI neutral 3 M 17 12 month 10.10.2012
Sanford C. Bernstein & Co MARK LI market perform 3 M 15 12 month 09.10.2012
Jefferies ROBERT LEA underperform 1 D 12 12 month 07.08.2012
HSBC STEVEN C PELAYO overweight 5 M 17 Not Provided 19.07.2012
Goldman Sachs DONALD LU neutral/neutral 3 M 14 12 month 31.05.2012
EVA Dimensions TEAM COVERAGE hold 3 M #N/A N/A Not Provided 18.11.2011
First Global Stockbroking ISHANSH VIJ market perform 3 M #N/A N/A Not Provided 02.05.2011
Holdings By:
Taiwan Semiconductor Manufacturing Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
China Mobile Limited, through its subsidiaries, provides cellular
telecommunications and related services in the People's Republic of China and
Hong Kong SAR.
Latest Fiscal Year: 12/2011
LTM as of: 03/yy
52-Week High (14.08.2012) 92.60
52-Week Low (19.12.2011) 72.20
Daily Volume
83.7
52-Week High % Change -9.61% Dividend Yield 4.06
52-Week Low % Change 15.93% Beta 0.64
% 52 Week Price Range High/Low 58.33% Equity Float 5'212.77
Shares Out 30.09.2012 20'099.7 Short Int -
1'682'343.88 1 Yr Total Return 15.64%
Total Debt 30'301.00 YTD Return 14.88%
Preferred Stock 0.0 Adjusted BETA 0.642
Minority Interest 1'355.0 Analyst Recs 33
Cash and Equivalents 332'946.00 Consensus Rating 3.424
Enterprise Value 997'518.99
Average Volume 5 Day 17'087'210
941 HK EQUITY YTD Change - Average Volume 30 Day 17'744'940
941 HK EQUITY YTD % CHANGE - Average Volume 3 Month 17'679'090
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 03/yy 03/yy 12/12 Y 12/13 Y 06/12 Q2 09/12 Q3
356'959.0 411'810.0 452'103.0 485'231.0 527'999.0 494'316.0 537'272.0 561'577.2 597'207.5 141'691.3 142'930.0
6.81x 2.90x 2.34x 2.18x 1.77x 0.00x 0.00x 1.81x 1.60x - -
197'093.0 219'788.0 233'788.0 241'758.0 257'202.0 0.0 0.0 252'444.5 259'235.2 68'511.8 65'976.5
12.34x 5.43x 4.52x 4.37x 3.63x 0.00x 0.00x 3.95x 3.85x - -
87'062.0 112'627.0 115'166.0 119'640.0 125'870.0 121'026.0 126'806.0 125'427.1 127'035.0 35'359.8 31'142.5
29.66x 12.19x 11.18x 10.98x 9.82x 0.00x 0.00x 10.86x 10.72x - -
EBITDA 257'202.00 Long-Term Rating Date 16.12.2010
EBIT 159'710.00 Long-Term Rating AA-
Operating Margin 30.25% Long-Term Outlook STABLE
Pretax Margin 31.55% Short-Term Rating Date -
Return on Assets 13.87% Short-Term Rating -
Return on Common Equity 20.55%
Return on Capital 19.56% EBITDA/Interest Exp. 455.22
Asset Turnover 0.58% (EBITDA-Capex)/Interest Exp. 235.02
Net Debt/EBITDA -1.18
Gross Margin - Total Debt/EBITDA 0.12
EBITDA Margin 48.7%
EBIT Margin 30.2% Total Debt/Equity 4.7%
Net Income Margin 23.8% Total Debt/Capital 4.5%
Asset Turnover 0.58
Current Ratio 1.40 Net Fixed Asset Turnover 1.14
Quick Ratio 1.25 Accounts receivable turnover-days 5.81
Debt to Assets 3.18% Inventory Days -
Tot Debt to Common Equity 4.67% Accounts Payable Turnover Day -
Accounts Receivable Turnover 62.87 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
China Mobile LtdPrice/Volume
Valuation Analysis
21'077'927.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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200'000.0
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA MOBILE HK BVI n/a 20F 14'885'998'621 74.06 - 31.03.2012 Corporation
VANGUARD GROUP INC Multiple Portfolios MF-AGG 264'607'960 1.32 4'085'964 30.09.2012 Investment Advisor
ABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 175'760'183 0.87 4'327'000 28.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 123'415'000 0.61 210'000 12.10.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 53'719'500 0.27 - 30.06.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 52'944'396 0.26 (739'697) 31.12.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 50'427'000 0.25 (9'591'500) 30.06.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 44'569'290 0.22 10'223'214 30.12.2011 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 42'107'908 0.21 (7'269'850) 31.08.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 39'511'302 0.2 (211'000) 12.10.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 36'888'947 0.18 1'090'500 12.10.2012 Investment Advisor
PICTET ASSET MANAGEM Multiple Portfolios MF-AGG 31'549'430 0.16 3'984'663 31.07.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 24'357'000 0.12 759'500 15.10.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 18'886'000 0.09 855'500 31.07.2012 Mutual Fund Manager
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 18'587'500 0.09 (3'484'000) 31.03.2012 Mutual Fund Manager
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 17'939'500 0.09 - 31.08.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 17'030'255 0.08 1'587'500 30.06.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 15'575'207 0.08 - 30.06.2012 Investment Advisor
COMGEST GROWTH PLC Multiple Portfolios MF-AGG 15'507'000 0.08 - 30.06.2011 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 14'868'470 0.07 (81'500) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BOCOM International Holdings LI ZHIWU long-term buy 5 M 92 12 month 16.10.2012
Barclays ANAND RAMACHANDRAN equalweight 3 M 83 Not Provided 16.10.2012
Nomura DANNY CHU neutral 3 M 91 Not Provided 15.10.2012
Standard Chartered STEVEN LIU outperform 5 M 95 12 month 12.10.2012
BNP Paribas Equity Research ALEN LIN hold 3 M 85 12 month 12.10.2012
Jefferies CYNTHIA JINHONG MENG hold 3 M 91 12 month 11.10.2012
Credit Suisse COLIN MCCALLUM outperform 5 M 102 Not Provided 10.10.2012
DBS Vickers TAM TSZ-WANG hold 3 M 85 12 month 05.10.2012
Haitong International Securities ALEX LEE hold 3 M 90 12 month 04.10.2012
Deutsche Bank ALAN HELLAWELL hold 3 M 86 12 month 03.10.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 89 Not Provided 03.10.2012
Bank of China International MICHAEL MENG sell 1 M 75 Not Provided 25.09.2012
Kim Eng Securities ANDY POON sell 1 M 72 12 month 21.09.2012
Guotai Junan RICKY LAI accumulate 4 M 90 Not Provided 12.09.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 05.09.2012
Goldman Sachs DONALD LU Buy/Neutral 5 M 100 12 month 17.08.2012
Capital Securities Corp TEAM COVERAGE hold 3 M 70 Not Provided 17.08.2012
Macquarie LISA SOH neutral 3 M 76 12 month 17.08.2012
China International Capital Corp CHEN HAOFEI reduce 2 M 75 12 month 17.08.2012
SWS Research Co Ltd JIM TANG underperform 1 M 72 Not Provided 17.08.2012
UOB Kay Hian VICTOR YIP buy 5 M 100 Not Provided 17.08.2012
ICBC International Securities KARY SEI hold 3 D 87 Not Provided 17.08.2012
Morgan Stanley NAVIN KILLA Equalwt/In-Line 3 M 80 12 month 16.08.2012
JPMorgan LUCY LIU neutral 3 M 92 3 month 16.08.2012
Pacific Crest Securities STEVE CLEMENT outperform 5 M 91 12 month 16.08.2012
HSBC TUCKER GRINNAN overweight 5 M 103 Not Provided 16.08.2012
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 16.08.2012
Mizuho Securities MARVIN LO underperform 1 D 74 12 month 16.08.2012
Religare Capital Markets RUMIT DUGAR buy 5 M 97 12 month 16.08.2012
Ji Asia NEIL JUGGINS buy 5 U 96 12 month 11.06.2012
Holdings By:
China Mobile Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
China Construction Bank Corporation provides a complete range of banking
services and other financial services to individual and corporate customers. The
bank's services include retail banking, international settlement, project
finance, and credit card services.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.03.2012) 6.62
52-Week Low (12.07.2012) 4.71
Daily Volume
5.68
52-Week High % Change -14.20% Dividend Yield 5.15
52-Week Low % Change 20.59% Beta 1.11
% 52 Week Price Range High/Low 56.54% Equity Float 69'156.38
Shares Out 10.09.2012 240'417.3 Short Int -
1'415'184.13 1 Yr Total Return 16.70%
Total Debt 1'211'152.00 YTD Return 10.67%
Preferred Stock 0.0 Adjusted BETA 1.110
Minority Interest 5'520.0 Analyst Recs 40
Cash and Equivalents 2'765'601.00 Consensus Rating 4.600
Enterprise Value -
Average Volume 5 Day #########
939 HK EQUITY YTD Change - Average Volume 30 Day #########
939 HK EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
306'520.0 388'058.0 396'529.0 449'841.0 575'537.0 507'820.0 654'862.0 448'467.5 488'340.9 114'520.0 -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
69'053.0 92'599.0 106'756.0 134'844.0 169'258.0 156'928.0 182'716.0 186'511.4 191'714.7 51'000.0 -
20.61x 9.36x 12.77x 10.55x 6.47x 8.43x 5.90x 6.19x 6.04x - -
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A
Operating Margin 54.90% Long-Term Outlook STABLE
Pretax Margin 55.07% Short-Term Rating Date 29.11.2011
Return on Assets 1.47% Short-Term Rating A-1
Return on Common Equity 22.45%
Return on Capital 9.46% EBITDA/Interest Exp. -
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 149.3%
Net Income Margin 42.5% Total Debt/Capital 59.7%
Asset Turnover 0.05
Current Ratio - Net Fixed Asset Turnover 5.45
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 9.86% Inventory Days -
Tot Debt to Common Equity 149.31% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Construction Bank CorpPrice/Volume
Valuation Analysis
322'939'006.00
Current Price (10/dd/yy) Market Data
!
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CENTRAL HUIJIN INVES n/a EXCH 142'590'494'651 59.31 - 14.11.2011 Government
TEMASEK HOLDINGS PRI n/a EXCH 17'878'670'050 7.44 - 04.05.2012 Government
BANK OF AMERICA CORP n/a EXCH 5'942'736'979 2.47 - 17.11.2011 Investment Advisor
BAOSTEEL GROUP CORP n/a Co File 3'210'000'000 1.34 - 31.12.2010 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'996'209'024 1.25 360'329'270 30.09.2012 Investment Advisor
BEST INVESTMENT CORP n/a EXCH 2'760'000'000 1.15 - 14.11.2011 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'540'250'930 0.64 2'666'000 12.10.2012 Investment Advisor
STATE GRID INTL DEVP n/a Co File 1'315'282'730 0.55 - 31.12.2010 n/a
CHINA YANGTZE POWER n/a Co File 1'070'000'000 0.45 - 31.12.2010 Government
RECA INVESTMENT LTD n/a Co File 856'000'000 0.36 - 31.12.2010 n/a
YINGDA INTL HOLDINGS n/a Co File 856'000'000 0.36 - 31.12.2010 n/a
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 808'305'345 0.34 (21'223'500) 30.06.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 718'786'095 0.3 (74'739'516) 29.02.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 692'820'990 0.29 (181'578'000) 29.06.2012 Investment Advisor
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 671'621'995 0.28 99'887'000 31.08.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 632'279'467 0.26 96'278'869 31.12.2011 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 523'882'130 0.22 3'717'976 12.10.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 467'843'756 0.19 (28'607'714) 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 436'933'756 0.18 894'000 12.10.2012 Investment Advisor
SHANDONG LUNENG GROU n/a Co File 374'500'000 0.16 - 31.12.2010 Corporation
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co MICHAEL WERNER outperform 5 M 7 12 month 16.10.2012
Religare Capital Markets SOPHIE JIANG hold 3 M 5 12 month 15.10.2012
Goldman Sachs NING MA Buy/Neutral 5 M 7 12 month 11.10.2012
Jefferies TAN MING buy 5 M 6 12 month 11.10.2012
Nomura LUCY FENG neutral 3 M 5 Not Provided 11.10.2012
Morgan Stanley RICHARD XU Overwt/In-Line 5 M 6 12 month 10.10.2012
BNP Paribas Equity Research DORRIS CHEN buy 5 M 6 12 month 10.10.2012
CIMB TREVOR KALCIC outperform 5 M 7 12 month 05.10.2012
Keefe, Bruyette & Woods BILL STACEY market perform 3 M 6 12 month 01.10.2012
DBS Vickers ALEXANDER LEE buy 5 M 7 12 month 24.09.2012
Credit Suisse SANJAY JAIN outperform 5 M 7 Not Provided 20.09.2012
Standard Chartered LAWRENCE CHEN outperform 5 M 6 12 month 19.09.2012
BOCOM International Holdings LI SHANSHAN long-term buy 5 M 6 12 month 18.09.2012
HSBC TODD DUNIVANT overweight 5 M 8 Not Provided 16.09.2012
Mizuho Securities JIM ANTOS neutral 3 M 5 12 month 14.09.2012
Deutsche Bank TRACY YU hold 3 M 6 12 month 06.09.2012
Kim Eng Securities IVAN LI buy 5 M 8 12 month 06.09.2012
Barclays MAY YAN equalweight 3 M 6 Not Provided 06.09.2012
Core Pacific LI TIMOTHY buy 5 M 6 Not Provided 05.09.2012
Guotai Junan WILSON LI accumulate 4 D 7 Not Provided 29.08.2012
Citic Securities Co., Ltd FEIFEI XIAO overweight 5 M #N/A N/A Not Provided 28.08.2012
JPMorgan JOSHUA KLACZEK overweight 5 M 7 3 month 27.08.2012
Capital Securities Corp TEAM COVERAGE buy 5 M #N/A N/A Not Provided 27.08.2012
Bank of China International SUN PENG buy 5 M 6 Not Provided 27.08.2012
Daiwa Securities Co. Ltd. GRACE WU outperform 5 M 6 Not Provided 27.08.2012
China International Capital Corp MAO JUNHUA buy 5 M 10 12 month 27.08.2012
SWS Research Co Ltd ROBERT HU outperform 5 M 7 Not Provided 27.08.2012
UOB Kay Hian EDMOND LAW hold 3 M 6 Not Provided 27.08.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 6 Not Provided 27.08.2012
Mirae Asset Securities NAN LI buy 5 M 7 12 month 26.08.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 13.08.2012
Macquarie VICTOR WANG outperform 5 M 6 12 month 19.06.2012
GuoSen Securities Co Ltd CHEN HUFEI buy 5 M #N/A N/A Not Provided 27.04.2012
Phillip Securities CHEN XINGYU accumulate 4 D 7 Not Provided 28.03.2012
Hua Tai Securities Co., Ltd LIU XIAOCHANG buy 5 M #N/A N/A Not Provided 26.03.2012
RBS DESMOND CHEUNG buy 5 M 8 12 month 24.10.2011
Masterlink Securities RAINY YUAN trading buy 5 N 9 6 month 24.11.2010
ICBC International Securities IVAN LIN buy 5 M 9 Not Provided 01.11.2010
KGI Securities MICHELLE CHEN outperform 5 N 8 12 month 16.04.2010
Tebon Securities Co Ltd XU MINGQIANG outperform 5 N #N/A N/A Not Provided 02.01.2009
Holdings By:
China Construction Bank Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Gazprom OAO operates gas pipeline systems, produces and explores gas, and
transports high pressure gas in the Russian Federation and European countries.
The Company is also engaged in oil production, oil refining, gas storage, and
electric and heat energy generation.
Latest Fiscal Year: 12/2011
LTM as of: 03/yy
52-Week High (05.03.2012) 13.64
52-Week Low (01.06.2012) 8.47
Daily Volume
9.895
52-Week High % Change -27.49% Dividend Yield -
52-Week Low % Change 16.89% Beta 1.26
% 52 Week Price Range High/Low 24.54% Equity Float -
Shares Out 30.06.2012 11'836.8 Short Int -
117'124.71 1 Yr Total Return -1.14%
Total Debt 1'540'162.00 YTD Return -2.16%
Preferred Stock 0.0 Adjusted BETA 1.256
Minority Interest 297'420.0 Analyst Recs 16
Cash and Equivalents 525'335.00 Consensus Rating 4.375
Enterprise Value -
Average Volume 5 Day 22'084'820
OGZD LI EQUITY YTD Change - Average Volume 30 Day 26'244'440
OGZD LI EQUITY YTD % CHANGE - Average Volume 3 Month 23'062'670
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 03/yy 03/yy 12/12 Y 12/13 Y 03/12 Q1 06/12 Q2
2'390'467.0 3'518'960.0 2'990'971.0 3'597'054.0 4'637'090.0 ######### ######### ######### ######### ######### #########
4.02x 1.10x 2.00x 1.60x 1.16x 5.61x 4.74x 1.07x 1.02x - -
885'355.0 1'554'286.0 1'115'242.0 1'399'892.0 1'970'093.0 ######### ######### ######### ######### 457'803.0 -
10.85x 2.48x 5.37x 4.10x 2.73x 4.20x 2.97x - - - -
658'038.0 742'928.0 779'585.0 968'557.0 1'307'018.0 ######### ######### ######### ######### 376'950.5 291'752.5
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 2.96x 2.98x - -
EBITDA 1'970'093.00 Long-Term Rating Date 29.11.2006
EBIT 1'694'909.00 Long-Term Rating BBB
Operating Margin 36.55% Long-Term Outlook STABLE
Pretax Margin 36.23% Short-Term Rating Date 20.08.2010
Return on Assets 12.98% Short-Term Rating A-2
Return on Common Equity 19.06%
Return on Capital 15.95% EBITDA/Interest Exp. 61.57
Asset Turnover 0.46% (EBITDA-Capex)/Interest Exp. 13.03
Net Debt/EBITDA 0.52
Gross Margin - Total Debt/EBITDA 0.78
EBITDA Margin 42.5%
EBIT Margin 36.6% Total Debt/Equity 20.6%
Net Income Margin 28.2% Total Debt/Capital 16.6%
Asset Turnover 0.46
Current Ratio 1.71 Net Fixed Asset Turnover 0.76
Quick Ratio 0.81 Accounts receivable turnover-days 36.90
Debt to Assets 14.13% Inventory Days -
Tot Debt to Common Equity 20.64% Accounts Payable Turnover Day -
Accounts Receivable Turnover 9.89 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Gazprom OAOPrice/Volume
Valuation Analysis
13'539'816.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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1'000'000.0
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2'000'000.0
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4'000'000.0
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5'000'000.0
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC Multiple Portfolios MF-AGG 204'256'183 1.73 (929'561) 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 65'005'800 0.55 2'265'780 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 61'085'000 0.52 - 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 40'418'308 0.34 307'100 12.10.2012 Investment Advisor
SKAGEN AS Multiple Portfolios MF-AGG 38'295'733 0.32 - 28.09.2012 Mutual Fund Manager
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 36'857'000 0.31 2'816'800 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 33'169'190 0.28 (743'093) 12.10.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 24'657'883 0.21 (1'579'802) 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 21'900'694 0.19 (202'330) 31.08.2012 Investment Advisor
DWS INVESTMENT SA Multiple Portfolios MF-AGG 16'824'220 0.14 (470'000) 31.08.2012 Mutual Fund Manager
VAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 14'257'664 0.12 - 12.10.2012 Investment Advisor
DB PLATINUM ADVISORS Multiple Portfolios MF-AGG 13'500'000 0.11 7'500'000 30.09.2012 Investment Advisor
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 11'855'044 0.1 1'213'849 30.06.2012 Investment Advisor
EAST CAPITAL ASSET M Multiple Portfolios MF-AGG 11'043'945 0.09 (4'008'960) 30.06.2012 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 11'023'813 0.09 (703'455) 31.03.2012 Mutual Fund Manager
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 10'886'848 0.09 (5'630) 30.06.2012 Investment Advisor
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 10'783'661 0.09 (323'701) 31.08.2012 Investment Advisor
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 10'768'204 0.09 (468'099) 29.06.2012 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 10'757'851 0.09 427 31.08.2012 Investment Advisor
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 9'914'540 0.08 2'694'212 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Renaissance Capital BRADLEY WAY buy 5 M 13 12 month 12.10.2012
Morgan Stanley PAVEL SOROKIN Equalwt/In-Line 3 M 12 12 month 09.10.2012
Sanford C. Bernstein & Co OSWALD CLINT outperform 5 M 17 12 month 04.10.2012
ING Wholesale Banking IGOR KURINNYY hold 3 M 11 12 month 26.09.2012
Alfa-Bank MARIYA YEGIKYAN overweight 5 M 13 Not Provided 21.09.2012
Goldman Sachs GEYDAR MAMEDOV Buy/Neutral 5 M 16 12 month 17.09.2012
Societe Generale EVGENY SOLOVYOV buy 5 M 16 12 month 11.09.2012
HSBC ILDAR KHAZIEV overweight 5 M 14 Not Provided 31.08.2012
RMG Securities MIKHAIL LOSHININ buy 5 M 14 Not Provided 12.07.2012
UFS-Finance Investment Company ILYA BALAKIREV buy 5 M 14 Not Provided 02.07.2012
Gazprombank IVAN KHROMUSHIN overweight 5 M 16 12 month 12.05.2012
Aton LLC ELENA SAVCHIK buy 5 M 32 12 month 20.01.2012
Otkritie Capital VADIM MITROSHIN buy 5 M 25 Not Provided 21.12.2011
Barclays LYDIA RAINFORTH underweight 1 M 15 Not Provided 15.11.2011
Wood & Company CHIRVANI ABDOULLAEV hold 3 N 14 12 month 22.06.2011
CS Capital CHRISTOPHER PARKINSON buy 5 M #N/A N/A Not Provided 24.01.2011
Holdings By:
Gazprom OAO ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
America Movil SAB de C.V. provides wireless communications in 18 countries
across Latin America, the Caribbean and the U.S. The company also offers
fixed-line phone, Internet and pay-TV services in most parts of the region.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (07.05.2012) 28.47
52-Week Low (19.12.2011) 21.60
Daily Volume
26.17
52-Week High % Change -8.08% Dividend Yield -
52-Week Low % Change 21.16% Beta 1.09
% 52 Week Price Range High/Low 66.52% Equity Float -
Shares Out 10.10.2012 2'595.6 Short Int 8.80
99'406.23 1 Yr Total Return 10.85%
Total Debt 380'618.80 YTD Return 16.43%
Preferred Stock 0.0 Adjusted BETA 1.088
Minority Interest 9'999.5 Analyst Recs 21
Cash and Equivalents 59'124.00 Consensus Rating 3.952
Enterprise Value -
Average Volume 5 Day 4'417'279
AMX US EQUITY YTD Change - Average Volume 30 Day 5'128'935
AMX US EQUITY YTD % CHANGE - Average Volume 3 Month 4'776'151
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
311'579.8 345'654.9 561'254.6 607'855.7 665'301.5 632'882.8 733'603.6 746'539.7 783'291.7 188'495.5 200'301.8
3.86x 2.29x 2.28x 2.73x 2.33x 10.00x 8.53x 2.18x 2.03x 8.69x 8.20x
126'012.6 137'313.5 228'715.8 243'392.7 248'772.5 243'760.3 259'749.9 260'897.1 273'113.5 65'744.7 69'731.0
9.55x 5.78x 5.60x 6.82x 6.23x 6.09x 6.53x - - - -
58'587.5 59'485.5 92'697.6 91'123.1 82'853.5 95'899.9 81'083.0 97'444.3 105'034.1 25'970.8 23'784.2
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 13.62x 12.25x 14.68x 14.50x
EBITDA 248'772.50 Long-Term Rating Date 22.03.2010
EBIT 154'775.47 Long-Term Rating A-
Operating Margin 23.26% Long-Term Outlook STABLE
Pretax Margin 19.32% Short-Term Rating Date -
Return on Assets 9.09% Short-Term Rating -
Return on Common Equity 27.93%
Return on Capital 15.57% EBITDA/Interest Exp. 11.97
Asset Turnover 0.73% (EBITDA-Capex)/Interest Exp. 6.18
Net Debt/EBITDA 1.29
Gross Margin 42.1% Total Debt/EBITDA 1.53
EBITDA Margin 37.4%
EBIT Margin 23.3% Total Debt/Equity 133.3%
Net Income Margin 12.5% Total Debt/Capital 56.3%
Asset Turnover 0.73
Current Ratio 0.91 Net Fixed Asset Turnover 1.52
Quick Ratio 0.70 Accounts receivable turnover-days 59.84
Debt to Assets 40.25% Inventory Days 28.55
Tot Debt to Common Equity 133.25% Accounts Payable Turnover Day 150.63
Accounts Receivable Turnover 6.10 Cash Conversion Cycle -62.24
Inventory Turnover 12.78
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
America Movil SAB de CVPrice/Volume
Valuation Analysis
4'054'394.00
Current Price (10/dd/yy) Market Data
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16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 72'019'326 2.77 (17'892'800) 30.06.2012 Investment Advisor
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 69'854'668 2.69 (24'606'700) 30.06.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 50'939'316 1.96 474'200 30.06.2012 Investment Advisor
GENESIS ASSET MANAGE GENESIS ASSET MANAGE 13F 29'864'226 1.15 257'432 30.06.2012 Investment Advisor
NOMURA HOLDINGS INC NOMURA HOLDINGS INC 13F 21'512'060 0.83 21'453'980 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 21'508'182 0.83 267'884 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 20'072'352 0.77 (1'386'345) 30.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 17'435'803 0.67 (2'589'640) 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 17'284'039 0.67 17'120 30.06.2012 Investment Advisor
BRANDES INVESTMENT P BRANDES INVESTMENT P 13F 16'083'199 0.62 (1'203'345) 30.06.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 15'597'043 0.6 2'097'005 30.06.2012 Investment Advisor
FIDELITY INTERNATION FIDELITY INTERNATION 13F 13'420'115 0.52 4'258'192 30.06.2012 Investment Advisor
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 12'928'223 0.5 388'700 30.06.2012 Investment Advisor
CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 12'710'980 0.49 1'690'498 30.06.2012 Investment Advisor
FISHER INVESTMENTS I FISHER INVESTMENTS 13F 11'725'512 0.45 1'031'574 30.06.2012 Investment Advisor
WESTWOOD GLOBAL INVE WESTWOOD GLOBAL INVE 13F 11'723'354 0.45 265'505 30.06.2012 Investment Advisor
HARDING LOEVNER LP HARDING LOEVNER LP 13F 10'509'674 0.4 524'200 30.06.2012 Investment Advisor
ARROWSTREET CAP LIMI ARROWSTREET CAPITAL 13F 10'124'939 0.39 10'124'939 30.06.2012 Hedge Fund Manager
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 10'115'685 0.39 10'115'685 30.06.2012 Hedge Fund Manager
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 9'837'719 0.38 4'070'900 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Itau BBA Securities GREGORIO TOMASSI outperform 5 M 30 Not Provided 14.10.2012
Actinver SA MARTIN LARA buy 5 M 29 12 month 12.10.2012
HSBC RICHARD DINEEN overweight 5 U 32 Not Provided 05.10.2012
Scotia Capital ANDRES COELLO sector underperform 1 M 25 12 month 05.10.2012
BBVA ALEJANDRO GALLOSTRA outperform 5 M 30 Not Provided 01.10.2012
JPMorgan ANDRE BAGGIO neutral 3 M 28 15 month 26.09.2012
Banorte-IXE MANUEL JIMENEZ ZALDIVAR buy 5 M 31 Not Provided 20.09.2012
Raymond James RICHARD H PRENTISS JR market perform 3 M #N/A N/A Not Provided 19.09.2012
Macquarie KEVIN SMITHEN outperform 5 M 32 12 month 09.08.2012
Morgan Stanley MICHEL MORIN Underwt/In-Line 1 M 25 12 month 30.07.2012
Goldman Sachs LUCIO G ALDWORTH neutral/neutral 3 M 28 12 month 27.07.2012
William Blair & Co JAMES D BREEN JR market perform 3 M #N/A N/A Not Provided 27.07.2012
Banco BTG Pactual SA CARLOS SEQUEIRA neutral 3 M 27 12 month 27.07.2012
Stifel Nicolaus CHRISTOPHER C KING hold 3 M #N/A N/A Not Provided 27.07.2012
Credit Suisse ANDREW T CAMPBELL outperform 5 M 30 Not Provided 26.07.2012
Barclays VERA ROSSI overweight 5 M 32 Not Provided 23.07.2012
Grupo Santander VALDER NOGUEIRA hold 3 M 26 Not Provided 10.04.2012
Wells Fargo Securities, LLC JENNIFER M FRITZSCHE suspended coverage #N/A N/A M #N/A N/A Not Provided 30.12.2011
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Gabelli & Co SERGEY DLUZHEVSKIY buy 5 M #N/A N/A Not Provided 31.10.2011
Davenport & Co F DRAKE JOHNSTONE reduce 2 U #N/A N/A Not Provided 21.07.2011
First Global Stockbroking RUPALI VERMA moderate outperform 4 M #N/A N/A Not Provided 29.10.2009
Holdings By:
America Movil SAB de CV ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Petroleo Brasileiro S.A. - Petrobras explores for and produces oil and natural
gas. The Company refines, markets, and supplies oil products. Petrobras
operates oil tankers, distribution pipelines, marine, river and lake terminals,
thermal power plants, fertilizer plants, and petrochemical units. The Company
operates in South America and elsewhere around the world.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (08.02.2012) 30.20
52-Week Low (28.06.2012) 16.69
Daily Volume
22.32
52-Week High % Change -26.09% Dividend Yield -
52-Week Low % Change 33.73% Beta 1.22
% 52 Week Price Range High/Low 41.67% Equity Float -
Shares Out 24.09.2012 2'801.0 Short Int 16.75
148'665.20 1 Yr Total Return -0.25%
Total Debt 155'554.69 YTD Return -2.75%
Preferred Stock - Adjusted BETA 1.217
Minority Interest 2'384.7 Analyst Recs 10
Cash and Equivalents 58'302.82 Consensus Rating 4.200
Enterprise Value -
Average Volume 5 Day 5'355'077
PBR/A US EQUITY YTD Change - Average Volume 30 Day 7'503'190
PBR/A US EQUITY YTD % CHANGE - Average Volume 3 Month 7'833'152
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 03/12 Q1 06/12 Q2
170'718.9 217'220.4 183'481.6 211'841.9 244'176.1 223'163.6 262'088.2 283'172.5 295'085.9 63'827.1 67'771.7
2.95x 0.98x 2.60x 2.07x 1.56x 7.82x 5.77x 1.60x 1.64x - -
52'508.7 57'350.1 58'032.9 59'315.3 61'582.3 61'581.1 56'472.1 66'363.1 74'245.2 16'946.9 15'752.9
9.58x 3.73x 8.22x 7.39x 6.17x 6.42x 6.50x - - - -
25'564.5 38'932.0 30'964.7 35'189.4 33'313.1 41'096.0 19'253.7 29'361.9 36'244.3 8'983.5 4'234.2
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 10.17x 8.30x 9.28x 8.95x
EBITDA 61'582.35 Long-Term Rating Date 17.11.2011
EBIT 43'842.85 Long-Term Rating BBB
Operating Margin 17.96% Long-Term Outlook STABLE
Pretax Margin 18.16% Short-Term Rating Date -
Return on Assets 5.97% Short-Term Rating -
Return on Common Equity 10.47%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.44% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA 1.58
Gross Margin 31.6% Total Debt/EBITDA 2.53
EBITDA Margin 25.2%
EBIT Margin 18.0% Total Debt/Equity 47.2%
Net Income Margin 13.6% Total Debt/Capital 31.9%
Asset Turnover 0.44
Current Ratio 1.78 Net Fixed Asset Turnover 0.78
Quick Ratio 1.02 Accounts receivable turnover-days 22.51
Debt to Assets 25.96% Inventory Days 52.61
Tot Debt to Common Equity 47.16% Accounts Payable Turnover Day 39.60
Accounts Receivable Turnover 16.21 Cash Conversion Cycle 35.52
Inventory Turnover 6.94
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Petroleo Brasileiro SAPrice/Volume
Valuation Analysis
7'236'161.00
Current Price (10/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ABERDEEN ASSET MANAG ABERDEEN ASSET MANAG 13F 110'460'369 3.94 21'409'540 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 53'890'039 1.92 2'528'838 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 36'781'377 1.31 618'175 30.06.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 33'467'136 1.19 2'542'249 30.06.2012 Investment Advisor
ALLIANCEBERNSTEIN LP ALLIANCEBERNSTEIN LP 13F 30'203'497 1.08 2'654'965 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 25'667'412 0.92 (1'709'232) 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 23'306'947 0.83 303'718 30.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 22'215'148 0.79 (7'901'232) 30.06.2012 Investment Advisor
DODGE & COX DODGE & COX 13F 17'287'100 0.62 2'346'300 30.06.2012 Investment Advisor
TEMPLETON ASSET MANA TEMPLETON ASSET MANA 13F 15'441'395 0.55 (3'141'319) 30.06.2012 Investment Advisor
BRANDES INVESTMENT P BRANDES INVESTMENT P 13F 12'942'568 0.46 2'044'790 30.06.2012 Investment Advisor
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 11'111'941 0.4 (1'138'262) 30.06.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 10'941'709 0.39 (1'440'300) 30.06.2012 Investment Advisor
MANNING & NAPIER ADV MANNING & NAPIER ADV 13F 10'677'940 0.38 4'666'370 30.06.2012 Investment Advisor
SKAGEN AS Multiple Portfolios MF-AGG 10'520'416 0.38 - 28.09.2012 Mutual Fund Manager
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 10'079'936 0.36 (7'552'959) 30.06.2012 Investment Advisor
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 9'951'696 0.36 (1'125'400) 30.06.2012 Investment Advisor
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 8'948'714 0.32 (2'463'400) 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 8'484'636 0.3 (499'967) 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I TEMPLETON INVESTMENT 13F 8'418'324 0.3 191'000 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Barclays PAUL Y CHENG equalweight 3 M 32 Not Provided 05.10.2012
Espirito Santo Investment Bank ResearchOSWALDO ALCANTARA TELLES FILHO buy 5 M 32 12 month 01.10.2012
Itau BBA Securities PAULA KOVARSKY market perform 3 M 29 Not Provided 30.09.2012
Howard Weil Inc RICHARD ROBERTS JR market perform 3 M 32 12 month 06.08.2012
JPMorgan CAIO M CARVALHAL neutral 3 M 23 15 month 06.08.2012
Banco BTG Pactual SA GUSTAVO GATTASS buy 5 M 28 12 month 06.08.2012
Goldman Sachs FELIPE MATTAR Buy/Neutral 5 M 27 6 month 18.07.2012
Societe Generale JOHN HERRLIN buy 5 U 25 12 month 08.06.2012
HSBC ANISA REDMAN overweight 5 M 46 Not Provided 02.06.2011
Bradesco Corretora AURO ROZENBAUM buy 5 M 73 Not Provided 20.10.2008
Holdings By:
Petroleo Brasileiro SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Industrial and Commercial Bank of China Ltd provides a broad range of personal
and corporate commercial banking services all over China. The Bank's businesses
include deposit, loan, credit card, fund underwriting and trust, and foreign
currency settlement and trading.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (29.02.2012) 5.72
52-Week Low (12.07.2012) 3.97
Daily Volume
4.88
52-Week High % Change -14.69% Dividend Yield 5.15
52-Week Low % Change 22.92% Beta 1.27
% 52 Week Price Range High/Low 55.43% Equity Float 70'942.72
Shares Out 30.06.2012 86'794.0 Short Int -
1'664'291.50 1 Yr Total Return 21.18%
Total Debt 1'923'778.00 YTD Return 11.72%
Preferred Stock 0.0 Adjusted BETA 1.271
Minority Interest 1'081.0 Analyst Recs 39
Cash and Equivalents 3'589'595.00 Consensus Rating 4.615
Enterprise Value -
Average Volume 5 Day #########
1398 HK EQUITY YTD Change - Average Volume 30 Day #########
1398 HK EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
391'906.0 469'928.0 470'638.0 544'045.0 704'382.0 616'599.0 790'946.0 528'428.5 576'896.3 133'740.0 -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
81'520.0 110'841.0 128'645.0 165'156.0 208'265.0 190'034.0 221'944.0 227'897.1 236'728.3 61'185.0 52'616.0
33.88x 10.73x 13.95x 8.83x 7.07x 8.18x 6.20x 6.16x 5.90x - -
EBITDA - Long-Term Rating Date 09.12.2010
EBIT - Long-Term Rating A
Operating Margin 56.24% Long-Term Outlook STABLE
Pretax Margin 57.02% Short-Term Rating Date 09.12.2010
Return on Assets 1.44% Short-Term Rating A-1
Return on Common Equity 23.44%
Return on Capital 8.43% EBITDA/Interest Exp. -
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 201.1%
Net Income Margin 43.6% Total Debt/Capital 66.8%
Asset Turnover 0.05
Current Ratio - Net Fixed Asset Turnover 5.30
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 12.43% Inventory Days -
Tot Debt to Common Equity 201.08% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Industrial & Commercial Bank of China LtdPrice/Volume
Valuation Analysis
294'399'948.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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100'000.0
200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
700'000.0
800'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SOCIAL SECURITY FUND n/a EXCH 11'276'281'524 12.99 - 08.08.2012 Pension Fund (ERISA)
JP MORGAN CHASE & CO n/a EXCH 5'072'177'118 5.84 - 23.05.2012 Investment Advisor
TEMASEK HOLDINGS PRI n/a EXCH 4'575'047'470 5.27 - 30.05.2012 Government
GOLDMAN SACHS GROUP n/a EXCH 4'327'315'246 4.99 - 18.04.2012 Investment Advisor
CAPITAL RESEARCH GLO n/a EXCH 4'266'918'759 4.92 - 12.09.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'791'881'875 3.22 147'779'000 30.09.2012 Investment Advisor
NOMURA HOLDINGS INC n/a Short (2'319'702'900) -2.67 - 01.02.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'475'819'775 1.7 2'536'000 12.10.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 1'198'146'302 1.38 (21'984'997) 31.03.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 949'417'954 1.09 (370'602'040) 30.06.2012 Investment Advisor
NOMURA HOLDINGS INC n/a EXCH 857'877'144 0.99 - 01.02.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 590'570'010 0.68 (83'208'000) 30.06.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 572'386'767 0.66 30'602'689 31.12.2011 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 540'862'000 0.62 (215'017'000) 29.06.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 482'819'400 0.56 - 31.07.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 428'056'190 0.49 502'000 12.10.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 426'582'405 0.49 51'321'000 15.10.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 327'270'356 0.38 (2'262'331) 31.08.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 275'044'935 0.32 11'176'000 31.07.2012 Mutual Fund Manager
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 263'249'610 0.3 13'171'000 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co MICHAEL WERNER outperform 5 M 6 12 month 16.10.2012
Religare Capital Markets SOPHIE JIANG buy 5 M 6 12 month 15.10.2012
Core Pacific LI TIMOTHY buy 5 M 6 12 month 12.10.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 5 Not Provided 12.10.2012
Goldman Sachs NING MA Buy/Neutral 5 M 6 12 month 11.10.2012
Nomura LUCY FENG buy 5 M 5 Not Provided 11.10.2012
Morgan Stanley RICHARD XU Overwt/In-Line 5 M 6 12 month 10.10.2012
BNP Paribas Equity Research DORRIS CHEN buy 5 M 5 12 month 09.10.2012
Jefferies TAN MING buy 5 M 5 12 month 04.10.2012
Keefe, Bruyette & Woods BILL STACEY outperform 5 M 6 12 month 01.10.2012
CIMB TREVOR KALCIC outperform 5 N 6 12 month 25.09.2012
DBS Vickers ALEXANDER LEE buy 5 M 6 12 month 24.09.2012
Standard Chartered LAWRENCE CHEN outperform 5 M 5 12 month 19.09.2012
HSBC TODD DUNIVANT overweight 5 M 7 Not Provided 16.09.2012
Mizuho Securities JIM ANTOS neutral 3 M 5 12 month 14.09.2012
BOCOM International Holdings LI SHANSHAN long-term buy 5 M 5 12 month 13.09.2012
EVA Dimensions TEAM COVERAGE overweight 5 U #N/A N/A Not Provided 10.09.2012
Deutsche Bank TRACY YU buy 5 M 5 12 month 06.09.2012
Kim Eng Securities IVAN LI buy 5 M 6 12 month 06.09.2012
Barclays MAY YAN overweight 5 M 5 Not Provided 06.09.2012
Credit Suisse SANJAY JAIN outperform 5 M 5 Not Provided 04.09.2012
Bank of China International SUN PENG hold 3 M 5 Not Provided 31.08.2012
China International Capital Corp MAO JUNHUA buy 5 M 6 12 month 31.08.2012
SWS Research Co Ltd ROBERT HU neutral 3 M 6 Not Provided 31.08.2012
UOB Kay Hian EDMOND LAW buy 5 M 5 Not Provided 31.08.2012
Mirae Asset Securities NAN LI buy 5 M 6 12 month 31.08.2012
JPMorgan JOSHUA KLACZEK overweight 5 M 6 3 month 30.08.2012
Daiwa Securities Co. Ltd. GRACE WU buy 5 M 6 Not Provided 30.08.2012
CCB International Securities Ltd SHENG NAN outperform 5 M 6 Not Provided 30.08.2012
Masterlink Securities RAINY YUAN hold 3 M 6 6 month 06.07.2012
Citic Securities Co., Ltd ZHU YAN overweight 5 M #N/A N/A Not Provided 29.06.2012
Macquarie VICTOR WANG outperform 5 M 7 12 month 19.06.2012
Guotai Junan WILSON LI accumulate 4 M 7 Not Provided 11.04.2012
Capital Securities Corp TEAM COVERAGE buy 5 M 6 Not Provided 30.03.2012
RBS DESMOND CHEUNG buy 5 M 6 12 month 24.10.2011
Phillip Securities CHEN XINGYU buy 5 M 6 12 month 09.10.2011
ICBC International Securities IVAN LIN buy 5 M 7 Not Provided 23.04.2010
KGI Securities MICHELLE CHEN outperform 5 M 6 12 month 30.03.2010
Holdings By:
Industrial & Commercial Bank of China Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
CNOOC Limited, through its subsidiaries, explores, develops, produces, and sells
crude oil and natural gas. The Group's core operation areas are Bohai, Western
South China Sea, Eastern South China Sea and East China Sea in offshore China.
Internationally, the Group has oil and gas assets in Asia, Africa, North
America, South America and Oceania.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (20.02.2012) 18.20
52-Week Low (20.10.2011) 12.52
Daily Volume
15.94
52-Week High % Change -12.42% Dividend Yield 2.72
52-Week Low % Change 27.32% Beta 1.26
% 52 Week Price Range High/Low 57.39% Equity Float 15'873.58
Shares Out 30.06.2012 44'646.3 Short Int -
711'662.13 1 Yr Total Return 23.69%
Total Debt 37'995.00 YTD Return 20.96%
Preferred Stock 0.0 Adjusted BETA 1.264
Minority Interest 0.0 Analyst Recs 35
Cash and Equivalents 99'197.00 Consensus Rating 3.514
Enterprise Value 514'760.20
Average Volume 5 Day 43'259'720
883 HK EQUITY YTD Change - Average Volume 30 Day 56'059'580
883 HK EQUITY YTD % CHANGE - Average Volume 3 Month 55'018'760
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
90'723.8 125'977.4 105'195.1 180'036.0 240'944.0 - - 233'060.9 242'334.1 - -
5.75x 1.95x 4.24x 3.71x 1.79x - - 2.40x 2.26x - -
49'242.7 65'262.9 56'272.8 97'993.0 119'044.0 - - 122'303.5 125'445.9 - -
10.59x 3.77x 7.93x 6.82x 3.62x - - 4.21x 4.10x - -
31'258.3 44'375.3 29'485.6 54'410.0 70'255.0 - - 64'509.1 64'190.4 - -
17.26x 6.44x 16.28x 12.81x 7.02x - - 8.85x 8.86x - -
EBITDA 119'044.00 Long-Term Rating Date 16.12.2010
EBIT 88'523.00 Long-Term Rating AA-
Operating Margin 36.74% Long-Term Outlook STABLE
Pretax Margin 38.42% Short-Term Rating Date -
Return on Assets 20.00% Short-Term Rating -
Return on Common Equity 29.36%
Return on Capital 25.77% EBITDA/Interest Exp. 76.41
Asset Turnover 0.69% (EBITDA-Capex)/Interest Exp. 42.61
Net Debt/EBITDA -0.51
Gross Margin - Total Debt/EBITDA 0.32
EBITDA Margin 49.4%
EBIT Margin 36.7% Total Debt/Equity 14.5%
Net Income Margin 29.2% Total Debt/Capital 12.6%
Asset Turnover 0.69
Current Ratio 1.88 Net Fixed Asset Turnover 1.18
Quick Ratio 1.71 Accounts receivable turnover-days 30.56
Debt to Assets 9.89% Inventory Days -
Tot Debt to Common Equity 14.45% Accounts Payable Turnover Day -
Accounts Receivable Turnover 11.95 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
CNOOC LtdPrice/Volume
Valuation Analysis
37'822'568.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA NATIONAL OFFSH n/a 20F 28'772'727'273 64.45 - 31.03.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 766'813'686 1.72 12'825'912 30.09.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 536'787'247 1.2 (8'034'400) 31.08.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 396'581'001 0.89 633'000 12.10.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 306'196'683 0.69 11'864'213 31.07.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 273'113'880 0.61 (25'381'876) 29.02.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 248'990'200 0.56 9'125'000 30.06.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 157'111'003 0.35 (2'211'309) 31.12.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 151'519'600 0.34 (1'808'000) 12.10.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 143'893'000 0.32 11'498'000 30.06.2012 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 138'905'500 0.31 (4'520'000) 29.06.2012 Mutual Fund Manager
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 121'732'000 0.27 - 30.08.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 107'771'467 0.24 9'576'000 30.06.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 99'157'375 0.22 24'815'000 15.10.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 78'800'100 0.18 (15'861'000) 30.06.2012 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 75'586'000 0.17 (4'656'000) 31.03.2012 Mutual Fund Manager
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 67'404'957 0.15 (24'685'000) 31.03.2012 Investment Advisor
JPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 66'860'000 0.15 (255'000) 30.04.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 63'636'436 0.14 (561'000) 31.08.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 61'557'900 0.14 30'153'000 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse DAVID HEWITT outperform 5 M 19 Not Provided 15.10.2012
Renaissance Capital BRADLEY WAY hold 3 M 16 12 month 12.10.2012
Nomura SONIA SONG neutral 3 D 18 Not Provided 09.10.2012
Deutsche Bank DAVID HURD hold 3 M 17 12 month 02.10.2012
Mirae Asset Securities GORDON KWAN hold 3 M 16 12 month 27.09.2012
VTB Capital COLIN SMITH hold 3 N 17 12 month 27.09.2012
Macquarie JAMES HUBBARD outperform 5 M 21 12 month 24.09.2012
BOCOM International Holdings WU FEI neutral 3 M 18 12 month 24.09.2012
Sanford C. Bernstein & Co NEIL BEVERIDGE outperform 5 M 21 12 month 21.09.2012
JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 13 3 month 18.09.2012
Jefferies LABAN YU underperform 1 M 13 12 month 17.09.2012
Standard Chartered DUKE SUTTIKULPANICH outperform 5 M 18 12 month 03.09.2012
SWS Research Co Ltd ALBERT MIAO underperform 1 M 13 Not Provided 23.08.2012
Bank of China International LAWRENCE LAU hold 3 M 16 Not Provided 22.08.2012
DBS Vickers WEE KEAT LEE hold 3 M 16 12 month 22.08.2012
China International Capital Corp BIN GUAN accumulate 4 M 17 12 month 22.08.2012
BNP Paribas Equity Research CHENG KHOO buy 5 M 18 12 month 22.08.2012
UOB Kay Hian YAN SHI buy 5 M 18 Not Provided 22.08.2012
ICBC International Securities ANNA YU hold 3 M 14 Not Provided 22.08.2012
Morgan Stanley WEE KIAT TAN Overwt/In-Line 5 M 20 12 month 21.08.2012
HSBC THOMAS C HILBOLDT overweight 5 M 18 Not Provided 21.08.2012
Mizuho Securities ANDREW S F CHAN buy 5 M 18 12 month 21.08.2012
Daiwa Securities Co. Ltd. ADRIAN LOH buy 5 M 21 Not Provided 21.08.2012
Barclays SCOTT DARLING overweight 5 M 21 Not Provided 21.08.2012
Goldman Sachs ARTHUR YAN not rated #N/A N/A M #N/A N/A Not Provided 02.08.2012
JF Apex Securities Bhd TEAM COVERAGE hold 3 M #N/A N/A Not Provided 25.07.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 16 Not Provided 24.07.2012
Guotai Junan GRACE LIU accumulate 4 M 18 Not Provided 26.06.2012
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 15.06.2012
Ji Asia SAMUEL THAWLEY sell 1 M 10 12 month 11.05.2012
Capital Securities Corp TEAM COVERAGE hold 3 M #N/A N/A Not Provided 29.03.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 30.11.2011
GuoSen Securities Co Ltd STEVEN LU neutral 3 M #N/A N/A Not Provided 22.11.2011
RBS PETER HILTON hold 3 M 14 12 month 07.11.2011
Industrial Securities FANG LEI buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
CNOOC Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Vale SA produces and sells iron ore, pellets, manganese, alloys, gold, nickel,
copper, kaolin, bauxite, alumina, aluminum, and potash. The Company is based in
Brazil, where it owns and operates railroads and maritime terminals.
Latest Fiscal Year: 12/2009
LTM as of: 06/yy
52-Week High (03.02.2012) 25.73
52-Week Low (04.09.2012) 15.53
Daily Volume
17.73
52-Week High % Change -31.09% Dividend Yield -
52-Week Low % Change 14.17% Beta 1.24
% 52 Week Price Range High/Low 21.57% Equity Float -
Shares Out 24.09.2012 2'108.6 Short Int 12.87
97'211.15 1 Yr Total Return -21.71%
Total Debt 49'121.00 YTD Return -11.75%
Preferred Stock 0.0 Adjusted BETA 1.241
Minority Interest 3'144.0 Analyst Recs 10
Cash and Equivalents 7'573.00 Consensus Rating 4.400
Enterprise Value -
Average Volume 5 Day 6'288'576
VALE/P US EQUITY YTD Change - Average Volume 30 Day 8'560'203
VALE/P US EQUITY YTD % CHANGE - Average Volume 3 Month 8'028'911
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
62'738.0 68'746.0 46'557.0 83'225.0 103'195.0 98'103.4 98'143.3 94'655.9 103'328.1 22'160.9 23'069.7
5.44x 1.84x 6.82x 3.87x 2.38x 12.42x 10.36x 2.63x 2.47x - -
29'927.1 33'990.9 17'533.5 46'231.0 57'579.0 59'265.2 48'391.8 41'803.4 48'224.9 9'068.4 10'990.6
11.40x 3.72x 18.11x 6.97x 4.27x 4.76x 5.26x - - - -
23'009.6 24'279.5 10'683.1 30'070.0 37'814.0 42'122.2 28'281.0 24'295.1 27'285.8 4'793.2 6'106.3
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 7.98x 6.74x 9.05x -
EBITDA 57'579.00 Long-Term Rating Date 23.11.2011
EBIT 50'647.00 Long-Term Rating A-
Operating Margin 49.08% Long-Term Outlook STABLE
Pretax Margin 45.03% Short-Term Rating Date -
Return on Assets 16.57% Short-Term Rating -
Return on Common Equity 29.58%
Return on Capital 21.97% EBITDA/Interest Exp. 23.96
Asset Turnover 0.45% (EBITDA-Capex)/Interest Exp. 12.19
Net Debt/EBITDA 0.72
Gross Margin 60.8% Total Debt/EBITDA 0.85
EBITDA Margin 55.8%
EBIT Margin 49.1% Total Debt/Equity 34.2%
Net Income Margin 36.6% Total Debt/Capital 25.1%
Asset Turnover 0.45
Current Ratio 1.89 Net Fixed Asset Turnover 0.72
Quick Ratio 1.07 Accounts receivable turnover-days 53.41
Debt to Assets 20.32% Inventory Days 80.88
Tot Debt to Common Equity 34.22% Accounts Payable Turnover Day 63.13
Accounts Receivable Turnover 6.83 Cash Conversion Cycle 71.15
Inventory Turnover 4.51
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Vale SAPrice/Volume
Valuation Analysis
5'545'473.00
Current Price (10/dd/yy) Market Data
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40'000.0
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120'000.0
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ABERDEEN ASSET MANAG ABERDEEN ASSET MANAG 13F 129'021'631 6.12 18'983'678 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 68'568'528 3.25 3'230'410 30.06.2012 Investment Advisor
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 56'889'871 2.7 (468'900) 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 37'456'644 1.78 730'054 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 35'362'305 1.68 (1'491'523) 30.06.2012 Investment Advisor
TEMPLETON ASSET MANA TEMPLETON ASSET MANA 13F 32'698'676 1.55 (4'623'506) 30.06.2012 Investment Advisor
ALLIANCEBERNSTEIN LP ALLIANCEBERNSTEIN LP 13F 25'499'865 1.21 (962'087) 30.06.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 15'283'260 0.72 1'442'782 30.06.2012 Investment Advisor
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 13'184'941 0.63 (12'956'641) 30.06.2012 Investment Advisor
MORGAN STANLEY INVES MORGAN STANLEY INVES 13F 13'122'855 0.62 (1'121'700) 30.06.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 12'976'410 0.62 (309'170) 30.06.2012 Investment Advisor
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 12'748'018 0.6 (3'621'200) 30.06.2012 Investment Advisor
MONDRIAN INVESTMENT MONDRIAN INVESTMENT 13F 12'430'314 0.59 390'800 30.06.2012 Hedge Fund Manager
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 11'982'681 0.57 574'200 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I TEMPLETON GLOBAL ADV 13F 11'892'978 0.56 834'564 30.06.2012 Investment Advisor
SKAGEN AS Multiple Portfolios MF-AGG 9'472'805 0.45 - 28.09.2012 Mutual Fund Manager
COMMONWEALTH BANK OF COMMONWEALTH BANK OF 13F 9'296'765 0.44 (3'390'810) 30.06.2012 Bank
FRANKLIN RESOURCES I TEMPLETON INVESTMENT 13F 9'168'471 0.43 1'058'880 30.06.2012 Investment Advisor
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 9'088'134 0.43 (10'290) 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 8'060'212 0.38 (1'138'113) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs MARCELO AGUIAR buy/attractive 5 M 23 12 month 15.10.2012
Banco BTG Pactual SA EDMO CHAGAS buy 5 M 27 12 month 08.10.2012
Espirito Santo Investment Bank ResearchCATARINA PEDROSA neutral 3 M 20 Not Provided 05.10.2012
JPMorgan RODOLFO R DE ANGELE overweight 5 M 22 15 month 20.09.2012
Itau BBA Securities MARCOS ASSUMPCAO outperform 5 M 24 Not Provided 17.09.2012
HSBC JONATHAN BRANDT overweight 5 M 20 Not Provided 14.09.2012
Banco Safra de Investimento LEONARDO ALVES outperform 5 M #N/A N/A Not Provided 10.09.2012
Grupo Santander FELIPE REIS hold 3 M 21 Not Provided 15.08.2012
RBC Capital Markets FRASER PHILLIPS sector perform 3 M #N/A N/A Not Provided 06.05.2011
Credit Suisse TEAM COVERAGE neutral 3 M #N/A N/A Not Provided 21.05.2009
Holdings By:
Vale SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Itau Unibanco Holding SA attracts deposits and offer retail, commercial,
corporate, and private banking services. The Bank offers consumer loans,
financial management, insurance, pension plans, treasury services, mortgage
loans, lease financing, securities brokerage, and foreign exchange services.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.03.2012) 22.00
52-Week Low (28.06.2012) 12.84
Daily Volume
14.64
52-Week High % Change -33.45% Dividend Yield -
52-Week Low % Change 14.02% Beta 1.38
% 52 Week Price Range High/Low 19.65% Equity Float -
Shares Out 08.10.2012 2'281.7 Short Int 28.66
66'918.50 1 Yr Total Return -16.44%
Total Debt 330'718.00 YTD Return -19.25%
Preferred Stock 0.0 Adjusted BETA 1.381
Minority Interest 1'395.0 Analyst Recs 12
Cash and Equivalents 136'542.00 Consensus Rating 4.333
Enterprise Value -
Average Volume 5 Day 11'168'687
ITUB US EQUITY YTD Change - Average Volume 30 Day 11'564'993
ITUB US EQUITY YTD % CHANGE - Average Volume 3 Month 12'535'507
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
44'044.5 62'950.0 116'402.0 106'419.0 129'875.0 114'827.8 136'108.0 82'518.7 91'286.9 21'263.3 21'903.9
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
8'473.6 4'849.0 14'085.0 11'708.0 13'837.0 13'252.8 13'449.0 14'686.3 16'439.5 - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 9.10x 7.89x 8.86x 8.57x
EBITDA - Long-Term Rating Date 30.04.2008
EBIT - Long-Term Rating BBB
Operating Margin 24.72% Long-Term Outlook STABLE
Pretax Margin 24.57% Short-Term Rating Date 11.07.2012
Return on Assets 1.79% Short-Term Rating A-2
Return on Common Equity 19.74%
Return on Capital 4.07% EBITDA/Interest Exp. -
Asset Turnover 0.17% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 447.3%
Net Income Margin 18.6% Total Debt/Capital 81.4%
Asset Turnover 0.17
Current Ratio - Net Fixed Asset Turnover 25.57
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 40.42% Inventory Days -
Tot Debt to Common Equity 447.27% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Itau Unibanco Holding SAPrice/Volume
Valuation Analysis
9'864'793.00
Current Price (10/dd/yy) Market Data
!
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0.0
20'000.0
40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
140'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011! !!
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC VANGUARD GROUP INC 13F 44'268'560 1.94 580'484 30.06.2012 Investment Advisor
THORNBURG INVESTMENT THORNBURG INVESTMENT 13F 31'613'051 1.39 4'031'739 30.06.2012 Investment Advisor
NORTHERN CROSS LLC NORTHERN CROSS LLC 13F 30'811'749 1.35 4'404'717 30.06.2012 Investment Advisor
TEMPLETON ASSET MANA TEMPLETON ASSET MANA 13F 30'550'135 1.34 (3'424'839) 30.06.2012 Investment Advisor
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 28'558'859 1.25 505'800 30.06.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 28'520'005 1.25 4'400'000 30.06.2012 Investment Advisor
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 24'144'685 1.06 (4'693'489) 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 21'752'726 0.95 21'752'726 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 18'796'564 0.82 (9'086'492) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 18'136'427 0.79 (2'050'917) 30.06.2012 Investment Advisor
GENESIS ASSET MANAGE GENESIS ASSET MANAGE 13F 17'140'082 0.75 1'243'381 30.06.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 17'089'945 0.75 4'536'244 30.06.2012 Investment Advisor
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 17'039'525 0.75 (412'935) 30.06.2012 Investment Advisor
WESTWOOD GLOBAL INVE WESTWOOD GLOBAL INVE 13F 14'089'340 0.62 323'097 30.06.2012 Investment Advisor
MASSACHUSETTS FINANC MASSACHUSETTS FINANC 13F 12'416'035 0.54 1'955'728 30.06.2012 Investment Advisor
UBS GLOBAL ASSET MAN UBS GLOBAL ASSET MAN 13F 11'858'010 0.52 1'238'562 30.06.2012 Investment Advisor
FIDELITY INTERNATION FIDELITY INTERNATION 13F 11'731'728 0.51 2'021'200 30.06.2012 Investment Advisor
ARROWSTREET CAP LIMI ARROWSTREET CAPITAL 13F 10'315'864 0.45 10'315'864 30.06.2012 Hedge Fund Manager
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 10'090'596 0.44 6'542'336 30.06.2012 Investment Advisor
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 9'413'853 0.41 (2'421'600) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raymond James FEDERICO REY-MARINO outperform 5 M 19 12 month 01.10.2012
Goldman Sachs CARLOS G MACEDO Buy/Neutral 5 M 20 12 month 27.09.2012
HSBC VICTOR GALLIANO overweight 5 M 18 Not Provided 14.09.2012
Deutsche Bank MARIO PIERRY buy 5 M 23 12 month 17.08.2012
Barclays FABIO ZAGATTI overweight 5 M 23 Not Provided 07.08.2012
Morgan Stanley JORGE KURI Equalwt/No Rating 3 M 18 12 month 02.08.2012
Banco BTG Pactual SA MARCELO BARROZO HENRIQUES neutral 3 M 14 12 month 24.07.2012
JPMorgan SAUL MARTINEZ restricted #N/A N/A M #N/A N/A Not Provided 09.07.2012
Grupo Santander BORIS MOLINA underperform 1 M 18 Not Provided 25.04.2012
Bradesco Corretora CARLOS W FIRETTI outperform 5 M 23 Not Provided 04.01.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Espirito Santo Investment Bank ResearchGUSTAVO VITTORAZZE SCHRODEN buy 5 M 20 12 month 25.10.2011
Holdings By:
Itau Unibanco Holding SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Tencent Holdings Limited provides Internet, mobile, and telecommunication
value-added services in China. The Company has an instant messaging community
in China. Tencent also provides online advertising services.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (03.10.2012) 268.80
52-Week Low (29.11.2011) 139.80
Daily Volume
260
52-Week High % Change -3.27% Dividend Yield -
52-Week Low % Change 85.98% Beta 1.09
% 52 Week Price Range High/Low 92.09% Equity Float 959.98
Shares Out 09.10.2012 1'850.8 Short Int -
481'198.91 1 Yr Total Return 51.14%
Total Debt 11'732.77 YTD Return 67.12%
Preferred Stock 0.0 Adjusted BETA 1.091
Minority Interest 624.5 Analyst Recs 36
Cash and Equivalents 26'328.18 Consensus Rating 4.306
Enterprise Value 370'283.45
Average Volume 5 Day 1'811'827
700 HK EQUITY YTD Change - Average Volume 30 Day 2'665'349
700 HK EQUITY YTD % CHANGE - Average Volume 3 Month 3'081'383
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
3'820.9 7'154.5 12'440.0 19'646.0 28'496.1 23'828.3 35'593.7 43'288.9 55'854.5 11'401.3 12'099.3
24.95x 10.35x 20.68x 12.43x 7.61x 45.46x 30.30x 8.52x 6.37x - -
1'791.9 3'539.9 6'415.5 10'382.4 13'357.0 6'319.4 15'564.6 18'352.8 23'126.5 4'798.5 4'921.5
53.21x 20.91x 40.10x 23.52x 16.23x 0.00x 20.74x 20.18x 16.01x 17.69x 16.82x
1'566.0 2'784.6 5'155.6 8'053.6 10'203.1 9'573.5 11'033.0 13'276.5 16'838.7 3'537.1 3'621.5
62.78x 28.37x 51.84x 32.31x 22.57x 33.37x 30.54x 29.13x 22.94x 25.18x 23.60x
EBITDA 13'356.97 Long-Term Rating Date 14.11.2011
EBIT 11'417.56 Long-Term Rating BBB+
Operating Margin 40.07% Long-Term Outlook STABLE
Pretax Margin 42.46% Short-Term Rating Date -
Return on Assets 22.03% Short-Term Rating -
Return on Common Equity 40.63%
Return on Capital 30.27% EBITDA/Interest Exp. 184.14
Asset Turnover 0.62% (EBITDA-Capex)/Interest Exp. 128.28
Net Debt/EBITDA -1.09
Gross Margin 65.2% Total Debt/EBITDA 0.88
EBITDA Margin 46.9%
EBIT Margin 40.1% Total Debt/Equity 41.2%
Net Income Margin 35.8% Total Debt/Capital 28.7%
Asset Turnover 0.62
Current Ratio 1.68 Net Fixed Asset Turnover 5.60
Quick Ratio 1.34 Accounts receivable turnover-days 23.93
Debt to Assets 20.65% Inventory Days -
Tot Debt to Common Equity 41.22% Accounts Payable Turnover Day 66.63
Accounts Receivable Turnover 15.25 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Tencent Holdings LtdPrice/Volume
Valuation Analysis
1'399'569.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MIH TC HOLDINGS LTD n/a EXCH 630'240'380 34.05 - 25.09.2012 Other
HUATENG MA n/a EXCH 189'892'880 10.26 - 10.07.2012 n/a
JP MORGAN CHASE & CO n/a EXCH 87'228'804 4.71 - 28.05.2012 Investment Advisor
ZHIDONG ZHANG n/a EXCH 66'000'000 3.57 - 18.09.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 57'076'300 3.08 (1'230'188) 30.06.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 30'830'349 1.67 (3'678'278) 31.03.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 25'857'000 1.4 (629'300) 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 23'686'000 1.28 95'000 30.06.2012 Investment Advisor
WADDELL & REED FINAN Multiple Portfolios MF-AGG 18'707'800 1.01 (1'410'200) 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 12'584'100 0.68 26'800 12.10.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 11'766'400 0.64 (598'600) 30.08.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 9'867'070 0.53 7'600 31.07.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 9'684'904 0.52 679'909 31.12.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 9'525'300 0.51 (906'500) 30.06.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 6'705'283 0.36 (2'226'200) 31.03.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 5'158'295 0.28 137'496 31.08.2012 Investment Advisor
CHI PING LAU n/a EXCH 4'603'600 0.25 (50'000) 31.08.2012 n/a
MANNING & NAPIER ADV Multiple Portfolios MF-AGG 4'371'390 0.24 - 31.07.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 4'320'630 0.23 (1'276'844) 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 3'754'933 0.2 8'100 12.10.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Capital Securities Corp TEAM COVERAGE buy 5 M 276 Not Provided 16.10.2012
Nomura JIN YOON reduce 2 M 146 Not Provided 11.10.2012
Credit Suisse WALLACE CHEUNG outperform 5 M 300 Not Provided 09.10.2012
BOCOM International Holdings CONNIE XINYU GU buy 5 M 260 12 month 09.10.2012
Mizuho Securities MARVIN LO buy 5 M 321 12 month 08.10.2012
Barclays ALICIA YAP overweight 5 M 292 Not Provided 04.10.2012
China International Capital Corp YU JIN buy 5 M 275 12 month 27.09.2012
Ji Asia JUSTIN WEISS neutral 3 U #N/A N/A Not Provided 27.09.2012
Brean Murray Carret & Co FAWNE JIANG buy 5 M 253 12 month 25.09.2012
First Shanghai Securities Ltd TSOI HO buy 5 M 300 12 month 20.09.2012
Jefferies CYNTHIA JINHONG MENG buy 5 M 330 12 month 19.09.2012
Morgan Stanley RICHARD W JI Overwt/Attractive 5 M 285 12 month 09.09.2012
OSK (Asia) Securities BILLY LEUNG sell 1 M 210 12 month 07.09.2012
EVA Dimensions TEAM COVERAGE hold 3 D #N/A N/A Not Provided 20.08.2012
Deutsche Bank ALAN HELLAWELL buy 5 M 270 12 month 17.08.2012
HSBC CHI TSANG underweight 1 M 221 Not Provided 17.08.2012
JPMorgan DICK WEI overweight 5 M 276 15 month 16.08.2012
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 16.08.2012
Macquarie JIONG SHAO underperform 1 M 180 12 month 16.08.2012
Bank of China International THOMAS CHONG buy 5 M 258 Not Provided 16.08.2012
Haitong International Securities ALEX LEE buy 5 M 265 12 month 16.08.2012
DBS Vickers BILL HUANG hold 3 M 222 12 month 16.08.2012
CIMB WENDY HUANG outperform 5 M 271 12 month 16.08.2012
SWS Research Co Ltd JIM TANG outperform 5 M 260 Not Provided 16.08.2012
Core Pacific KEVIN TAM buy 5 M 268 Not Provided 16.08.2012
Goldman Sachs PIYUSH MUBAYI Buy/Neutral 5 M 270 12 month 15.08.2012
Pacific Crest Securities EVAN S WILSON outperform 5 M 285 12 month 15.08.2012
Piper Jaffray MARK A MAROSTICA overweight 5 M 263 12 month 15.08.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 250 Not Provided 15.08.2012
Wedge Partners JUAN LIN no rating system #N/A N/A M #N/A N/A Not Provided 14.08.2012
Daiwa Securities Co. Ltd. JOHN CHOI buy 5 N 275 Not Provided 10.08.2012
Guotai Junan DUNDAS DENG buy 5 M 270 Not Provided 09.07.2012
ICBC International Securities KARY SEI hold 3 M 217 Not Provided 04.06.2012
Standard Chartered DON SEE outperform 5 M 237 12 month 18.05.2012
Mega Securities TIMOTHY LI hold 3 D 185 12 month 23.03.2010
PingAn Securities ZHONGZHI LI strong buy 5 M 188 6 month 29.01.2010
Holdings By:
Tencent Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
LUKOIL explores for, produces, refines, transports, and markets oil and gas,
mainly from Western Siberia. The Company also manufactures petrochemicals,
fuels, and other petroleum products. LUKOIL operates refineries, and gasoline
filling stations in Russia and the United States. The Company transports oil
through pipelines, and petroleum products with its fleet of ships.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (17.09.2012) 66.60
52-Week Low (14.12.2011) 49.67
Daily Volume
62.9
52-Week High % Change -5.56% Dividend Yield -
52-Week Low % Change 26.64% Beta 1.05
% 52 Week Price Range High/Low 71.94% Equity Float -
Shares Out 30.06.2012 850.6 Short Int -
53'500.43 1 Yr Total Return 19.31%
Total Debt 9'092.00 YTD Return 23.93%
Preferred Stock 0.0 Adjusted BETA 1.048
Minority Interest (172.0) Analyst Recs 13
Cash and Equivalents 2'910.00 Consensus Rating 4.538
Enterprise Value -
Average Volume 5 Day 1'842'915
LKOD LI EQUITY YTD Change - Average Volume 30 Day 2'978'087
LKOD LI EQUITY YTD % CHANGE - Average Volume 3 Month 2'627'331
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
66'858.0 86'340.0 68'025.0 86'078.0 133'650.0 110'201.0 136'770.0 129'504.6 129'852.5 - -
1.15x 0.41x 0.84x 0.62x 0.35x 2.06x 1.39x 0.46x 0.47x - -
15'366.0 17'092.0 14'096.0 16'050.0 17'628.0 18'847.0 16'139.0 18'341.5 19'045.4 - -
4.99x 2.07x 4.05x 3.32x 2.67x 2.99x 2.90x - - - -
9'511.0 9'144.0 7'011.0 9'006.0 10'357.0 11'772.0 8'396.0 10'899.1 10'901.7 - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 4.50x 4.63x - -
EBITDA 17'628.00 Long-Term Rating Date 12.11.2010
EBIT 13'155.00 Long-Term Rating BBB-
Operating Margin 9.84% Long-Term Outlook POS
Pretax Margin 9.82% Short-Term Rating Date -
Return on Assets 11.82% Short-Term Rating -
Return on Common Equity 16.33%
Return on Capital 14.04% EBITDA/Interest Exp. 25.40
Asset Turnover 1.53% (EBITDA-Capex)/Interest Exp. 13.51
Net Debt/EBITDA 0.35
Gross Margin - Total Debt/EBITDA 0.52
EBITDA Margin 13.2%
EBIT Margin 9.8% Total Debt/Equity 13.4%
Net Income Margin 7.7% Total Debt/Capital 11.9%
Asset Turnover 1.53
Current Ratio 2.12 Net Fixed Asset Turnover 2.40
Quick Ratio 1.07 Accounts receivable turnover-days 23.40
Debt to Assets 9.97% Inventory Days -
Tot Debt to Common Equity 13.44% Accounts Payable Turnover Day -
Accounts Receivable Turnover 15.60 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Lukoil OAOPrice/Volume
Valuation Analysis
1'272'893.00
Current Price (10/dd/yy) Market Data
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100'000.0
120'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ROYAL BANK OF CANADA n/a RNS-MAJ 91'131'178 10.71 - 22.09.2010 Bank
ABERDEEN ASSET MANAG ABERDEEN ASSET MANAG 13F 24'332'181 2.86 2'666'190 30.06.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 20'364'223 2.39 104'896 30.06.2012 Investment Advisor
UNICREDIT BANK AG n/a RNS-MAJ 19'752'533 2.32 15'446'091 17.03.2011 Bank
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 5'664'485 0.67 15'573 12.10.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 5'275'006 0.62 (39'900) 30.06.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 4'086'597 0.48 484'122 30.06.2012 Investment Advisor
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 3'388'932 0.4 244'051 31.08.2012 Investment Advisor
EAST CAPITAL ASSET M Multiple Portfolios MF-AGG 2'993'707 0.35 (719'026) 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 2'891'221 0.34 17'971 12.10.2012 Investment Advisor
VAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 2'434'326 0.29 - 12.10.2012 Investment Advisor
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 2'260'300 0.27 (31'600) 30.06.2012 Investment Advisor
DWS INVESTMENT SA Multiple Portfolios MF-AGG 2'213'900 0.26 (231'000) 31.08.2012 Mutual Fund Manager
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 2'114'853 0.25 (41'700) 31.08.2012 Investment Advisor
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 1'966'267 0.23 25'890 30.06.2012 Investment Advisor
JPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 1'645'980 0.19 118'880 30.04.2012 Investment Advisor
NORDEA INVESTMENT FU Multiple Portfolios MF-AGG 1'499'341 0.18 (10'220) 31.08.2012 Investment Advisor
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 1'465'237 0.17 (31'924) 31.08.2012 Investment Advisor
DEKA INTERNATIONAL S Multiple Portfolios MF-AGG 1'444'100 0.17 134'099 31.12.2011 Mutual Fund Manager
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 1'416'715 0.17 (46'000) 31.03.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Renaissance Capital BRADLEY WAY buy 5 M 88 12 month 12.10.2012
Sanford C. Bernstein & Co OSWALD CLINT market perform 3 M 57 12 month 04.10.2012
VTB Capital DMITRY LOUKASHOV buy 5 M 130 12 month 28.09.2012
Societe Generale EVGENY SOLOVYOV buy 5 M 72 12 month 24.09.2012
Alfa-Bank MARIYA YEGIKYAN overweight 5 N 69 Not Provided 03.09.2012
HSBC ILDAR KHAZIEV overweight 5 M 75 Not Provided 29.08.2012
Goldman Sachs GEYDAR MAMEDOV neutral/neutral 3 M 76 12 month 26.07.2012
RMG Securities MIKHAIL LOSHININ buy 5 M 79 Not Provided 12.07.2012
UFS-Finance Investment Company ILYA BALAKIREV buy 5 M 81 Not Provided 07.06.2012
Otkritie Capital VADIM MITROSHIN buy 5 M 69 Not Provided 20.12.2011
Barclays LYDIA RAINFORTH equalweight 3 M 70 Not Provided 15.11.2011
Wood & Company CHIRVANI ABDOULLAEV sell 1 N 58 12 month 22.06.2011
Holdings By:
Lukoil OAO ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Hyundai Motor Company manufactures, sells, and exports passenger cars, trucks,
and commercial vehicles. The Company also sells various auto parts and operates
auto repair service centers throughout South Korea. Hyundai Motor provides
financial services through its subsidiaries.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.05.2012) 272'500.00
52-Week Low (15.12.2011) 200'500.00
Daily Volume
227500
52-Week High % Change -16.51% Dividend Yield 0.77
52-Week Low % Change 13.47% Beta 1.16
% 52 Week Price Range High/Low 34.72% Equity Float 136.95
Shares Out 30.09.2012 220.3 Short Int -
50'112'900.00 1 Yr Total Return 7.94%
Total Debt 3'945'391.00 YTD Return 6.81%
Preferred Stock 331'011.0 Adjusted BETA 1.159
Minority Interest 0.0 Analyst Recs 50
Cash and Equivalents 10'087'560.00 Consensus Rating 4.840
Enterprise Value 41'454'867.97
Average Volume 5 Day 551'189
005380 KS EQUITY YTD Change - Average Volume 30 Day 549'482
005380 KS EQUITY YTD % CHANGE - Average Volume 3 Month 595'875
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
30'489'129.0 32'189'786.0 31'859'327.0 36'761'115.0 42'774'077.0 ######### ######### ######### ######### - -
0.42x 0.20x 0.64x 0.86x 0.91x 3.55x 3.57x 0.92x 0.83x - -
2'981'391.0 3'221'449.0 3'649'386.0 4'833'935.0 6'242'388.0 ######### ######### ######### ######### - -
4.25x 2.05x 5.60x 6.54x 6.21x 8.57x 5.73x 5.96x 5.99x - -
1'682'419.0 1'447'904.0 2'961'509.0 3'476'238.0 4'740'886.0 ######### ######### ######### ######### - -
11.54x 7.42x 11.11x 13.55x 12.20x 13.71x 11.51x 6.13x 5.92x - -
EBITDA 6'242'388.00 Long-Term Rating Date 20.03.2012
EBIT 4'684'413.00 Long-Term Rating BBB+
Operating Margin 10.95% Long-Term Outlook STABLE
Pretax Margin 13.72% Short-Term Rating Date -
Return on Assets 10.01% Short-Term Rating -
Return on Common Equity 15.49%
Return on Capital 14.50% EBITDA/Interest Exp. 21.78
Asset Turnover 0.90% (EBITDA-Capex)/Interest Exp. 16.80
Net Debt/EBITDA -0.98
Gross Margin 25.3% Total Debt/EBITDA 0.63
EBITDA Margin 14.6%
EBIT Margin 11.0% Total Debt/Equity 12.3%
Net Income Margin 11.1% Total Debt/Capital 10.8%
Asset Turnover 0.90
Current Ratio 1.45 Net Fixed Asset Turnover 3.50
Quick Ratio 1.22 Accounts receivable turnover-days 34.39
Debt to Assets 7.85% Inventory Days 19.83
Tot Debt to Common Equity 12.26% Accounts Payable Turnover Day 41.89
Accounts Receivable Turnover 10.61 Cash Conversion Cycle 12.34
Inventory Turnover 18.40
Fiscal Year Ended
Hyundai Motor CoPrice/Volume
Valuation Analysis
584'089.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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5'000'000.0
10'000'000.0
15'000'000.0
20'000'000.0
25'000'000.0
30'000'000.0
35'000'000.0
40'000'000.0
45'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HYUNDAI MOBIS n/a EXCH 45'782'023 20.78 - 20.03.2012 Corporation
NATIONAL PENSION SER n/a Co File 14'873'261 6.75 - 31.12.2011 Investment Advisor
MIRAE ASSET GLOBAL I n/a EXCH 13'054'486 5.93 (2'548'444) 29.01.2010 Investment Advisor
CHUNG MONG-KOO n/a EXCH 11'408'874 5.18 - 20.03.2012 n/a
HYUNDAI MOTOR CO n/a Co File 11'006'710 5 - 31.12.2011 Corporation
VANGUARD GROUP INC Multiple Portfolios MF-AGG 6'694'279 3.04 88'258 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 3'011'390 1.37 (358'100) 30.06.2012 Investment Advisor
WADDELL & REED FINAN Multiple Portfolios MF-AGG 2'702'100 1.23 (273'300) 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 2'660'724 1.21 (228) 12.10.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 2'308'262 1.05 (2'498) 31.08.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 2'265'216 1.03 (115'782) 29.02.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 2'040'115 0.93 - 31.07.2012 Investment Advisor
SAMSUNG INVESTMENT T Multiple Portfolios MF-AGG 1'862'051 0.85 (3'519) 29.06.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 1'604'082 0.73 101'955 30.06.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 1'429'500 0.65 (94'050) 30.06.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 1'193'706 0.54 246'719 31.03.2012 Mutual Fund Manager
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 1'096'014 0.5 161'155 30.06.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 1'090'881 0.5 35'094 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 885'913 0.4 (9'699) 12.10.2012 Investment Advisor
UBS HANA ASSET MANAG Multiple Portfolios MF-AGG 760'168 0.35 (14'210) 31.03.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
SK Securities Co Ltd KIM YONG-SOO buy 5 M 320'000 6 month 16.10.2012
Tong Yang Investment Bank AHN SANG JUN buy 5 M 300'000 12 month 16.10.2012
KIWOOM Securities Co Ltd LEE HYUN-SOO buy 5 M 370'000 6 month 15.10.2012
Hana Daetoo Securities SONG SUN-JAE buy 5 M 310'000 12 month 15.10.2012
Korea Investment & Securities SUH SUNGMOON buy 5 M 320'000 12 month 11.10.2012
LIG Investment Securities IN-WOO PARK buy 5 M 310'000 12 month 11.10.2012
HMC Investment Securities Co Ltd LEE MYUNG-HOON buy 5 M 330'000 6 month 10.10.2012
Shinyoung Securities Co., Ltd. HYUNG-SIL LEE buy 5 M 330'000 12 month 10.10.2012
Nomura ANGELA HONG buy 5 M 320'000 Not Provided 10.10.2012
Samsung Securities YOON PIL JOONG buy 5 M 298'000 12 month 09.10.2012
Macquarie MICHAEL SOHN outperform 5 M 320'000 12 month 09.10.2012
HI Investment Securities KOH TAE-BONG buy 5 M 350'000 6 month 09.10.2012
Daiwa Securities Co. Ltd. CHUNG SUNG-YOP buy 5 M 310'000 Not Provided 08.10.2012
Standard Chartered DAVID KIM outperform 5 M 326'000 12 month 06.10.2012
Shinhan Investment Corp CHOI JUNGHYUK buy 5 M 330'000 12 month 05.10.2012
KB Investment & Securities Co., Ltd SHIN CHUNG-KWAN buy 5 M 330'000 12 month 05.10.2012
Barclays PAUL HWANG equalweight 3 M 270'000 Not Provided 05.10.2012
KTB Securities NAM KYEONG MOON buy 5 M 320'000 12 month 04.10.2012
BNP Paribas Equity Research JAMES HIE SUK YOON buy 5 M 280'000 12 month 04.10.2012
Kyobo Securities SONG SANG-HOON buy 5 M 320'000 12 month 04.10.2012
IBK Securities Co Ltd SAE-HWAN AHN buy 5 M 320'000 Not Provided 26.09.2012
Hanwha Securities Co., Ltd KIM YEON-CHAN buy 5 M 313'000 6 month 24.09.2012
NH Investment & Securities LEE SANG-HYUN buy 5 M 330'000 6 month 19.09.2012
Eugene Investment & Securities Co., LtdPARK SANG-WON buy 5 M 320'000 12 month 19.09.2012
EVA Dimensions TEAM COVERAGE overweight 5 U #N/A N/A Not Provided 06.09.2012
Daewoo Securities PARK YOUNG HO buy 5 M 324'000 12 month 05.09.2012
Mirae Asset Securities YOON-KI KIM buy 5 M 316'000 12 month 04.09.2012
Goldman Sachs SEUNG SHIN Buy/Neutral 5 M 285'000 12 month 27.08.2012
E*Trade Securities Korea KANG SANG-MIN buy 5 M 330'000 12 month 13.08.2012
Hyundai Securities CHAE HEE-GUEN buy 5 M 328'000 Not Provided 02.08.2012
Golden Bridge Investment & Securities KIM SEUNG-HWAN buy 5 M 300'000 6 month 01.08.2012
Woori Investment & Securities CHO SOO-HONG buy 5 M 310'000 Not Provided 30.07.2012
Dongbu Securities Co Ltd YIM EUN-YOUNG buy 5 M 320'000 12 month 27.07.2012
Taurus Investment Securities Co Ltd YANG HEE-JOON buy 5 M 300'000 6 month 27.07.2012
Deutsche Bank SANJEEV RANA buy 5 M 325'000 12 month 26.07.2012
Morgan Stanley PARK SANG-KYOO Overwt/Attractive 5 M 316'000 12 month 26.07.2012
Credit Suisse HENRY KWON outperform 5 M 332'500 Not Provided 26.07.2012
JPMorgan PARK WAN SUN overweight 5 M 310'000 9 month 26.07.2012
Daishin Securities Co., Ltd. CHUNG TAEOH buy 5 M 270'000 6 month 22.06.2012
Hanyang Securities KIM YEON-WOO buy 5 M 320'000 6 month 15.05.2012
First Global Stockbroking MITUL SHAH market perform 3 M #N/A N/A Not Provided 07.05.2012
BS Securities Co Ltd CHOI DAE-SIK buy 5 N 310'000 6 month 30.04.2012
HSBC PAUL CHOI overweight 5 M 330'000 Not Provided 26.04.2012
Holdings By:
Hyundai Motor Co ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Companhia de Bebidas das Americas (AmBev) produces beer, soft drinks, teas,
mineral water, and sports drinks. The Company's main brands are Antarctica,
Brahma, and Skol. AmBev is the sole distributor of Pepsi products in Brazil.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (20.04.2012) 44.61
52-Week Low (23.11.2011) 31.30
Daily Volume
40.68
52-Week High % Change -8.82% Dividend Yield -
52-Week Low % Change 29.97% Beta 0.79
% 52 Week Price Range High/Low 70.46% Equity Float -
Shares Out 08.10.2012 1'371.4 Short Int 7.16
114'627.71 1 Yr Total Return 26.29%
Total Debt 4'114.59 YTD Return 15.58%
Preferred Stock 0.0 Adjusted BETA 0.788
Minority Interest 217.5 Analyst Recs 14
Cash and Equivalents 8'511.73 Consensus Rating 3.571
Enterprise Value -
Average Volume 5 Day 1'687'022
ABV US EQUITY YTD Change - Average Volume 30 Day 1'913'619
ABV US EQUITY YTD % CHANGE - Average Volume 3 Month 1'909'324
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
19'648.2 20'713.2 23'194.0 25'233.3 27'126.7 25'807.2 28'814.1 31'471.5 34'614.0 7'442.3 9'358.7
4.42x 3.10x 4.39x 5.72x 7.58x 22.18x 29.61x 7.33x 6.64x 31.28x 24.83x
7'089.3 9'117.2 10'554.4 11'590.2 13'164.2 12'084.7 9'333.9 15'097.6 16'719.3 3'467.1 4'925.1
12.24x 7.04x 9.64x 12.46x 15.62x 13.13x 0.00x - - - -
2'816.4 5'119.1 5'986.1 7'561.4 8'641.0 8'322.2 8'998.6 10'235.4 11'196.3 - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 24.85x 22.62x 24.56x 24.24x
EBITDA 13'164.19 Long-Term Rating Date 05.07.2012
EBIT 11'709.44 Long-Term Rating A
Operating Margin 43.17% Long-Term Outlook STABLE
Pretax Margin 41.44% Short-Term Rating Date -
Return on Assets 19.46% Short-Term Rating -
Return on Common Equity 34.58%
Return on Capital 30.58% EBITDA/Interest Exp. 13.16
Asset Turnover 0.61% (EBITDA-Capex)/Interest Exp. 9.96
Net Debt/EBITDA -0.33
Gross Margin 67.6% Total Debt/EBITDA 0.31
EBITDA Margin 48.5%
EBIT Margin 43.2% Total Debt/Equity 16.1%
Net Income Margin 31.9% Total Debt/Capital 13.7%
Asset Turnover 0.61
Current Ratio 1.02 Net Fixed Asset Turnover 3.33
Quick Ratio 0.71 Accounts receivable turnover-days 38.99
Debt to Assets 8.92% Inventory Days 86.00
Tot Debt to Common Equity 16.07% Accounts Payable Turnover Day 265.09
Accounts Receivable Turnover 9.36 Cash Conversion Cycle -140.10
Inventory Turnover 4.24
Fiscal Year Ended
Cia de Bebidas das AmericasPrice/Volume
Valuation Analysis
1'996'439.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 24'778'025 1.81 (877'106) 30.06.2012 Investment Advisor
VONTOBEL ASSET MANAG VONTOBEL ASSET MANAG 13F 14'488'067 1.06 2'946'230 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 13'977'241 1.02 283'835 30.06.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 11'793'477 0.86 2'164'899 29.06.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 10'573'760 0.77 (2'084'910) 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 10'573'331 0.77 (244'700) 30.06.2012 Investment Advisor
MORGAN STANLEY INVES MORGAN STANLEY INVES 13F 9'334'975 0.68 (177'100) 30.06.2012 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 8'586'523 0.63 1'597'000 30.06.2012 Hedge Fund Manager
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 8'585'446 0.63 143'790 30.06.2012 Investment Advisor
FISHER INVESTMENTS I FISHER INVESTMENTS 13F 8'335'598 0.61 5'784'345 30.06.2012 Investment Advisor
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 8'072'809 0.59 (1'784'701) 30.06.2012 Investment Advisor
ARROWSTREET CAP LIMI ARROWSTREET CAPITAL 13F 7'324'030 0.53 756'813 30.06.2012 Hedge Fund Manager
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 6'322'571 0.46 6'322'571 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 6'170'254 0.45 593'024 30.06.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 5'512'500 0.4 1'151'700 30.06.2012 Hedge Fund Manager
MONDRIAN INVESTMENT MONDRIAN INVESTMENT 13F 5'184'200 0.38 195'600 30.06.2012 Hedge Fund Manager
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 4'793'348 0.35 (128'700) 31.08.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 4'400'000 0.32 - 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 3'912'857 0.29 (117'488) 30.06.2012 Investment Advisor
HARRIS TRUST & SAVIN Multiple Portfolios MF-AGG 3'840'407 0.28 141'852 29.06.2012 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley LORE SERRA Equalwt/In-Line 3 M #N/A N/A Not Provided 10.10.2012
HSBC LAUREN E TORRES neutral 3 M 42 Not Provided 10.10.2012
Itau BBA Securities ALEXANDRE RUIZ MIGUEL market perform 3 M 43 Not Provided 10.10.2012
Raymond James CHRIS THORNSBERRY market perform 3 M #N/A N/A Not Provided 04.10.2012
Bradesco Corretora RICARDO BOIATI outperform 5 U 47 Not Provided 28.09.2012
Deutsche Bank JOSE J YORDAN hold 3 M 38 12 month 21.08.2012
Daiwa Securities Co. Ltd. TORU SUGIURA neutral 3 M 38 Not Provided 02.08.2012
Credit Suisse GUSTAVO JOSEF WIGMAN neutral 3 M 36 Not Provided 31.07.2012
Banco BTG Pactual SA THIAGO DUARTE neutral 3 M 33 12 month 31.07.2012
JPMorgan ALAN ALANIS overweight 5 M 46 3 month 18.06.2012
Grupo Santander LUIS MIRANDA hold 3 D 45 Not Provided 13.03.2012
EVA Dimensions TEAM COVERAGE hold 3 M #N/A N/A Not Provided 18.11.2011
Holdings By:
Cia de Bebidas das Americas ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
MTN Group Limited provides a wide range of communication services. The
Company's services include cellular network access and business solutions. MTN
Group is a multinational telecommunications group, operating in countries in
Africa and the Middle East.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (14.09.2012) 16'389.00
52-Week Low (04.04.2012) 12'700.00
Daily Volume
15564
52-Week High % Change -4.81% Dividend Yield 5.12
52-Week Low % Change 22.55% Beta 0.88
% 52 Week Price Range High/Low 84.36% Equity Float 1'132.01
Shares Out 30.08.2012 1'885.0 Short Int -
293'377.09 1 Yr Total Return 25.27%
Total Debt 34'205.00 YTD Return 14.35%
Preferred Stock 0.0 Adjusted BETA 0.876
Minority Interest 3'802.0 Analyst Recs 19
Cash and Equivalents 45'286.00 Consensus Rating 4.474
Enterprise Value 300'857.08
Average Volume 5 Day 7'322'605
MTN SJ EQUITY YTD Change - Average Volume 30 Day 6'508'800
MTN SJ EQUITY YTD % CHANGE - Average Volume 3 Month 6'528'916
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
73'145.0 102'526.0 111'947.0 114'684.0 121'884.0 - - 136'089.4 144'490.5 - -
3.55x 2.16x 2.08x 2.22x 2.12x - - 2.14x 1.99x - -
32'136.0 45'014.0 46'195.0 47'452.0 52'360.0 - - 59'338.8 62'560.1 - -
8.08x 4.92x 5.04x 5.37x 4.93x - - 5.08x 4.82x - -
10'608.0 15'315.0 14'650.0 14'300.0 20'754.0 - - 23'162.4 25'404.1 - -
21.90x 12.97x 14.68x 17.67x 13.45x - - 12.65x 11.35x - -
EBITDA 52'360.00 Long-Term Rating Date -
EBIT 36'901.00 Long-Term Rating -
Operating Margin 30.28% Long-Term Outlook -
Pretax Margin 30.88% Short-Term Rating Date -
Return on Assets 12.35% Short-Term Rating -
Return on Common Equity 25.82%
Return on Capital 23.67% EBITDA/Interest Exp. 7.92
Asset Turnover 0.73% (EBITDA-Capex)/Interest Exp. 5.79
Net Debt/EBITDA -0.21
Gross Margin 66.9% Total Debt/EBITDA 0.65
EBITDA Margin 43.0%
EBIT Margin 30.3% Total Debt/Equity 38.5%
Net Income Margin 17.0% Total Debt/Capital 27.0%
Asset Turnover 0.73
Current Ratio 1.22 Net Fixed Asset Turnover 1.81
Quick Ratio 1.04 Accounts receivable turnover-days 31.52
Debt to Assets 18.86% Inventory Days 19.08
Tot Debt to Common Equity 38.48% Accounts Payable Turnover Day 48.33
Accounts Receivable Turnover 11.58 Cash Conversion Cycle 2.28
Inventory Turnover 19.13
Fiscal Year Ended
MTN Group LtdPrice/Volume
Valuation Analysis
3'278'137.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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100'000.0
120'000.0
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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GOVERNMENT EMP PENSI #N/A N/A SJ-REG 245'565'229 13.03 - 28.09.2012 Government
STATE STREET BANK & #N/A N/A SJ-REG 178'009'469 9.44 - 28.09.2012 Investment Advisor
MTN ZAKHELE LTD n/a SJ-REG 75'857'138 4.02 - 28.09.2012 n/a
JP MORGAN CHASE BANK #N/A N/A SJ-REG 75'657'353 4.01 - 28.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 73'032'910 3.87 1'792'795 30.09.2012 Investment Advisor
JP MORGAN CHASE BANK #N/A N/A SJ-REG 51'525'684 2.73 - 28.09.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 46'540'691 2.47 (190'000) 30.06.2012 Investment Advisor
M1 LTD #N/A N/A SJ-REG 44'046'128 2.34 - 28.09.2012 Corporation
M1 CITI PLEDGED CUST n/a SJ-REG 40'700'000 2.16 - 28.09.2012 n/a
DODGE & COX Multiple Portfolios MF-AGG 40'632'400 2.16 137'000 30.06.2012 Investment Advisor
NORTHERN TR AVFC GOV n/a SJ-REG 36'929'480 1.96 - 28.09.2012 n/a
OLD MUTUAL LIFE ASSU #N/A N/A SJ-REG 36'626'848 1.94 - 28.09.2012 Insurance Company
UBS AG M1 LIMITED n/a SJ-REG 33'000'000 1.75 - 28.09.2012 n/a
MLI GMF & S M1 LTD S n/a SJ-REG 32'500'000 1.72 - 28.09.2012 n/a
GEPF CORONATION FM n/a SJ-REG 29'039'170 1.54 - 28.09.2012 n/a
CSFB EUROPE LTD #N/A N/A SJ-REG 26'010'300 1.38 - 28.09.2012 Unclassified
BANK OF NEW YORK #N/A N/A SJ-REG 25'401'377 1.35 - 28.09.2012 Investment Advisor
NORTHERN TRUST COMPA #N/A N/A SJ-REG 24'630'193 1.31 - 28.09.2012 Unclassified
MOBILE TELEPHONE NET n/a SJ-REG 22'337'752 1.19 - 28.09.2012 n/a
CORONATION ASSET MAN Multiple Portfolios MF-AGG 21'897'513 1.16 548'790 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
SBG Securities JONATHAN KENNEDY-GOOD buy 5 M 17'000 12 month 15.10.2012
JPMorgan JEAN-CHARLES LEMARDELEY overweight 5 M 18'500 15 month 12.10.2012
Macquarie AADIL OMAR outperform 5 M 17'000 12 month 10.10.2012
Barclays JOHN-PAUL DAVIDS overweight 5 M 18'000 Not Provided 10.10.2012
BNP Paribas Cadiz Securities DAN LEECH buy 5 M 17'500 12 month 10.10.2012
Goldman Sachs ALEXANDER BALAKHNIN neutral/neutral 3 M 17'100 12 month 04.10.2012
Renaissance Capital JOHAN SNYMAN hold 3 M 17'180 Not Provided 25.09.2012
EVA Dimensions TEAM COVERAGE overweight 5 U #N/A N/A Not Provided 06.09.2012
Avior Research DAVID LERCHE outperform 5 M 18'400 Not Provided 05.09.2012
HSBC HERVE DROUET overweight 5 M 17'900 Not Provided 03.09.2012
Morgan Stanley EDWARD C HILL-WOOD Equalwt/In-Line 3 M 14'300 12 month 09.08.2012
Credit Suisse RICHARD BARKER neutral 3 M 16'000 Not Provided 31.07.2012
Gabelli & Co EVAN D MILLER buy 5 M #N/A N/A Not Provided 18.07.2012
BPI KATE TURNER-SMITH buy 5 N 17'500 Not Provided 05.07.2012
Afrifocus Securities SAMEERA CASSIM buy 5 M #N/A N/A Not Provided 04.05.2012
FM Capital Partners TEAM COVERAGE overweight 5 N 16'900 Not Provided 15.11.2011
Holdings By:
MTN Group Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Bank of China Ltd provides a complete range of banking and other financial
services to individual and corporation customers worldwide. The bank's services
include retail banking, Great Wall credit card and debit card services, consumer
credit, foreign currency transaction, corporate banking, settlement and
clearing,investment banking, and fund management businesses.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (06.02.2012) 3.45
52-Week Low (25.11.2011) 2.35
Daily Volume
3.07
52-Week High % Change -11.01% Dividend Yield 6.25
52-Week Low % Change 30.64% Beta 1.10
% 52 Week Price Range High/Low 66.36% Equity Float 72'148.03
Shares Out 30.06.2012 83'622.3 Short Int -
919'539.38 1 Yr Total Return 22.20%
Total Debt 1'916'969.00 YTD Return 14.51%
Preferred Stock 0.0 Adjusted BETA 1.100
Minority Interest 32'732.0 Analyst Recs 39
Cash and Equivalents 3'128'981.00 Consensus Rating 4.179
Enterprise Value -
Average Volume 5 Day #########
3988 HK EQUITY YTD Change - Average Volume 30 Day #########
3988 HK EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
305'131.0 355'641.0 337'018.0 395'271.0 514'133.0 453'050.0 578'310.0 363'623.1 396'656.9 87'066.7 90'913.0
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
56'248.0 64'360.0 80'819.0 104'418.0 124'182.0 118'952.0 129'270.0 129'143.1 129'618.4 34'705.3 32'712.0
16.08x 7.47x 11.62x 8.91x 5.27x 7.16x 5.22x 5.41x 5.41x - -
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A
Operating Margin 49.70% Long-Term Outlook STABLE
Pretax Margin 51.24% Short-Term Rating Date 29.11.2011
Return on Assets 1.11% Short-Term Rating A-1
Return on Common Equity 18.16%
Return on Capital 5.11% EBITDA/Interest Exp. -
Asset Turnover 0.05% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 265.1%
Net Income Margin 37.7% Total Debt/Capital 71.7%
Asset Turnover 0.05
Current Ratio - Net Fixed Asset Turnover 3.67
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 16.20% Inventory Days -
Tot Debt to Common Equity 265.08% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Bank of China LtdPrice/Volume
Valuation Analysis
316'596'378.00
Current Price (10/dd/yy) Market Data
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100'000.0
200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SOCIAL SECURITY FUND n/a EXCH 8'357'384'041 9.99 - 08.02.2012 Pension Fund (ERISA)
BLACKROCK INC n/a EXCH 4'609'897'318 5.51 (55'335'432) 11.09.2012 Investment Advisor
TEMASEK HOLDINGS PRI n/a EXCH 3'116'864'905 3.73 - 04.05.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 3'087'086'800 3.69 251'362'000 30.09.2012 Investment Advisor
CAPITAL RESEARCH AND n/a EXCH 2'784'918'000 3.33 - 18.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'654'629'000 1.98 3'012'000 12.10.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 1'480'961'400 1.77 (135'216'000) 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 1'362'527'600 1.63 - 30.06.2012 Investment Advisor
CAPITAL INTERNATIONA n/a EXCH 716'654'188 0.86 - 18.09.2012 Investment Advisor
BLACKROCK INC n/a Short (628'237'926) -0.75 100'684'116 11.09.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 623'864'399 0.75 64'736'294 31.12.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 541'984'791 0.65 (34'202'000) 12.10.2012 Investment Advisor
CAPITAL GUARDIAN TRU n/a EXCH 370'545'906 0.44 - 18.09.2012 Investment Advisor
CHINA ASSET MANAGEME Multiple Portfolios MF-AGG 360'050'000 0.43 210'000'000 31.12.2011 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 358'995'100 0.43 14'137'000 31.07.2012 Mutual Fund Manager
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 346'255'500 0.41 - 30.06.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 316'401'657 0.38 (297'045'682) 29.02.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 291'096'100 0.35 15'249'000 30.06.2012 Investment Advisor
CAPITAL INTERNATIONA n/a EXCH 253'480'390 0.3 - 18.09.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 239'696'686 0.29 (9'832'700) 31.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co MICHAEL WERNER outperform 5 M 4 12 month 16.10.2012
Religare Capital Markets SOPHIE JIANG buy 5 M 3 12 month 15.10.2012
ICBC International Securities IVAN LIN buy 5 M 4 Not Provided 12.10.2012
Nomura LUCY FENG buy 5 M 3 Not Provided 11.10.2012
Morgan Stanley RICHARD XU Equalwt/In-Line 3 M 3 12 month 10.10.2012
BNP Paribas Equity Research DORRIS CHEN buy 5 M 3 12 month 10.10.2012
Jefferies TAN MING buy 5 M 3 12 month 04.10.2012
Keefe, Bruyette & Woods BILL STACEY market perform 3 M 3 12 month 01.10.2012
RBS DESMOND CHEUNG not rated #N/A N/A M #N/A N/A Not Provided 25.09.2012
CIMB TREVOR KALCIC neutral 3 N 3 12 month 25.09.2012
DBS Vickers ALEXANDER LEE buy 5 M 4 12 month 24.09.2012
Phillip Securities CHEN XINGYU accumulate 4 D 3 12 month 20.09.2012
Standard Chartered LAWRENCE CHEN outperform 5 M 4 12 month 19.09.2012
HSBC TODD DUNIVANT overweight 5 M 4 Not Provided 16.09.2012
Mizuho Securities JIM ANTOS underperform 1 M 3 12 month 14.09.2012
BOCOM International Holdings LI SHANSHAN long-term buy 5 M 4 12 month 13.09.2012
Deutsche Bank TRACY YU buy 5 M 3 12 month 06.09.2012
Kim Eng Securities IVAN LI buy 5 M 4 12 month 06.09.2012
Barclays MAY YAN overweight 5 U 4 Not Provided 06.09.2012
Core Pacific LI TIMOTHY hold 3 M 3 Not Provided 05.09.2012
Credit Suisse SANJAY JAIN neutral 3 M 3 Not Provided 04.09.2012
Guotai Junan WILSON LI accumulate 4 M 4 Not Provided 27.08.2012
Bank of China International JINHUA YIN buy 5 M 4 Not Provided 24.08.2012
Daiwa Securities Co. Ltd. GRACE WU outperform 5 U 3 Not Provided 24.08.2012
China International Capital Corp MAO JUNHUA buy 5 M 6 12 month 24.08.2012
UOB Kay Hian EDMOND LAW hold 3 M 3 Not Provided 24.08.2012
JPMorgan JOSHUA KLACZEK neutral 3 M 4 3 month 23.08.2012
CCB International Securities Ltd SHENG NAN outperform 5 U 4 Not Provided 23.08.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 13.08.2012
Masterlink Securities RAINY YUAN hold 3 M 3 Not Provided 11.07.2012
Goldman Sachs NING MA neutral/neutral 3 D 4 12 month 05.07.2012
Mirae Asset Securities NAN LI buy 5 M 4 12 month 03.07.2012
Citic Securities Co., Ltd ZHU YAN overweight 5 M #N/A N/A Not Provided 29.06.2012
Macquarie VICTOR WANG outperform 5 M 4 12 month 19.06.2012
Capital Securities Corp TEAM COVERAGE hold 3 M #N/A N/A Not Provided 27.04.2012
SWS Research Co Ltd ROBERT HU neutral 3 D 4 Not Provided 27.10.2011
KGI Securities MICHELLE CHEN neutral 3 M 4 12 month 25.03.2010
Holdings By:
Bank of China Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Banco Bradesco S.A. attracts deposits and offers commercial banking services.
The Bank offers business loans, personal credit, mortgages, lease financing,
mutual funds, securities brokerage, and Internet banking services. Bradesco
operates in Brazil and Argentina, the United States, the Cayman Islands, and the
United Kingdom. Bradesco offers credit cards, insurance, and pension funds.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (27.10.2011) 19.11
52-Week Low (18.05.2012) 13.17
Daily Volume
15.53
52-Week High % Change -18.73% Dividend Yield -
52-Week Low % Change 17.92% Beta 1.27
% 52 Week Price Range High/Low 39.73% Equity Float -
Shares Out 08.10.2012 1'912.4 Short Int 16.29
54'292.96 1 Yr Total Return -4.69%
Total Debt 26'910.09 YTD Return -5.56%
Preferred Stock - Adjusted BETA 1.274
Minority Interest 243.0 Analyst Recs 12
Cash and Equivalents 93'777.58 Consensus Rating 4.000
Enterprise Value -
Average Volume 5 Day 7'445'732
BBD US EQUITY YTD Change - Average Volume 30 Day 8'096'823
BBD US EQUITY YTD % CHANGE - Average Volume 3 Month 8'629'012
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
70'328.9 76'701.0 87'438.0 78'055.6 98'694.6 134'728.3 159'024.7 69'298.3 77'453.7 16'203.0 19'272.4
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
8'009.7 7'018.0 9'216.0 9'939.6 10'958.1 11'001.1 11'166.3 12'124.3 13'341.9 2'896.5 -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 9.84x 9.11x 9.88x 9.77x
EBITDA - Long-Term Rating Date 30.04.2008
EBIT - Long-Term Rating BBB
Operating Margin 26.96% Long-Term Outlook STABLE
Pretax Margin 28.27% Short-Term Rating Date 11.07.2012
Return on Assets 1.65% Short-Term Rating A-2
Return on Common Equity 19.89%
Return on Capital 12.21% EBITDA/Interest Exp. -
Asset Turnover 0.15% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 45.5%
Net Income Margin 21.1% Total Debt/Capital 31.2%
Asset Turnover 0.15
Current Ratio - Net Fixed Asset Turnover 24.87
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 3.73% Inventory Days -
Tot Debt to Common Equity 45.50% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Banco Bradesco SAPrice/Volume
Valuation Analysis
6'940'139.00
Current Price (10/dd/yy) Market Data
!.135
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40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011! !!
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ABERDEEN ASSET MANAG ABERDEEN ASSET MANAG 13F 163'518'324 8.55 12'819'900 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 34'714'489 1.82 455'465 30.06.2012 Investment Advisor
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 28'116'671 1.47 243'224 30.06.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 23'766'822 1.24 3'289'127 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 21'198'899 1.11 1'566'965 30.06.2012 Investment Advisor
FISHER INVESTMENTS I FISHER INVESTMENTS 13F 20'056'552 1.05 539'957 30.06.2012 Investment Advisor
TEMPLETON ASSET MANA TEMPLETON ASSET MANA 13F 18'161'869 0.95 (3'619'041) 30.06.2012 Investment Advisor
TRILOGY GLOBAL ADVIS TRILOGY GLOBAL ADVIS 13F 13'717'411 0.72 1'448'441 30.06.2012 Hedge Fund Manager
WELLS CAPITAL MANAGE WELLS CAPITAL MANAGE 13F 12'007'415 0.63 1'418'900 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 10'124'909 0.53 (1'557'360) 30.06.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 8'909'000 0.47 8'909'000 30.06.2012 Investment Advisor
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 8'793'112 0.46 - 30.06.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 8'734'162 0.46 1'104'011 30.06.2012 Investment Advisor
MORGAN STANLEY INVES MORGAN STANLEY INVES 13F 8'144'885 0.43 (213'900) 30.06.2012 Investment Advisor
CAPITAL INTERNATIONA CAPITAL INTERNATIONA 13F 7'830'234 0.41 673'424 30.06.2012 Investment Advisor
UBS GLOBAL ASSET MAN UBS GLOBAL ASSET MAN 13F 7'727'344 0.4 226'567 30.06.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 7'372'377 0.39 2'575'318 30.06.2012 Investment Advisor
HENDERSON GROUP PLC HENDERSON GROUP PLC 13F 7'260'432 0.38 (614'199) 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 6'922'041 0.36 (911'990) 30.06.2012 Investment Advisor
FINDLAY PARK PARTNER FINDLAY PARK PARTNER 13F 6'905'222 0.36 3'380'222 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raymond James FEDERICO REY-MARINO outperform 5 M 18 12 month 01.10.2012
Goldman Sachs CARLOS G MACEDO neutral/neutral 3 M 17 12 month 27.09.2012
Morgan Stanley JORGE KURI Equalwt/No Rating 3 M 18 12 month 26.09.2012
HSBC VICTOR GALLIANO neutral 3 M 17 Not Provided 14.09.2012
Deutsche Bank MARIO PIERRY buy 5 M 21 12 month 17.08.2012
Barclays FABIO ZAGATTI equalweight 3 M 20 Not Provided 07.08.2012
Itau BBA Securities REGINA SANCHEZ outperform 5 M 26 Not Provided 24.07.2012
JPMorgan SAUL MARTINEZ overweight 5 M 19 15 month 23.07.2012
Banco BTG Pactual SA MARCELO BARROZO HENRIQUES neutral 3 M 14 12 month 23.07.2012
Espirito Santo Investment Bank ResearchGUSTAVO VITTORAZZE SCHRODEN buy 5 M 19 12 month 23.07.2012
Grupo Santander BORIS MOLINA buy 5 M 20 Not Provided 25.04.2012
Holdings By:
Banco Bradesco SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Hon Hai Precision Industry Co., Ltd. provides electronic manufacturing services
for computers, communications, and consumer electronic products. The Company's
business operations include desktop and notebook PC assembly, connector
production, cable assembly, PCB assembly, handset manufacturing, networking
equipment, and other consumer electronic devices manufacturing.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (30.03.2012) 7.14
52-Week Low (20.10.2011) 4.30
Daily Volume
5.955
52-Week High % Change -16.55% Dividend Yield -
52-Week Low % Change 38.43% Beta 1.11
% 52 Week Price Range High/Low 55.68% Equity Float -
Shares Out 10.08.2012 5'917.9 Short Int -
35'241.29 1 Yr Total Return 38.88%
Total Debt 155'043.07 YTD Return 21.21%
Preferred Stock 0.0 Adjusted BETA 1.107
Minority Interest 0.0 Analyst Recs 0
Cash and Equivalents 74'742.04 Consensus Rating -
Enterprise Value -
Average Volume 5 Day 454'821
HHPD LI EQUITY YTD Change - Average Volume 30 Day 490'224
HHPD LI EQUITY YTD % CHANGE - Average Volume 3 Month 566'635
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
1'235'581.2 1'473'026.3 1'420'573.1 2'313'129.1 2'773'311.4 ######### ######### - - - -
1.07x 0.34x 0.93x 0.51x 0.35x 1.74x 1.34x - - - -
43'131.8 37'195.4 35'084.6 45'056.3 41'132.9 38'459.7 50'359.6 - - - -
30.75x 13.43x 37.56x 26.12x 23.49x 27.42x 20.34x - - - -
77'689.5 55'133.2 75'685.1 77'154.6 81'591.0 69'800.3 81'740.3 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
EBITDA 41'132.91 Long-Term Rating Date 09.11.2007
EBIT 31'500.29 Long-Term Rating A-
Operating Margin 1.14% Long-Term Outlook STABLE
Pretax Margin 3.31% Short-Term Rating Date -
Return on Assets 6.02% Short-Term Rating -
Return on Common Equity 15.42%
Return on Capital 12.63% EBITDA/Interest Exp. 22.51
Asset Turnover 2.05% (EBITDA-Capex)/Interest Exp. 10.72
Net Debt/EBITDA 1.95
Gross Margin 3.9% Total Debt/EBITDA 3.77
EBITDA Margin 1.5%
EBIT Margin 1.1% Total Debt/Equity 26.8%
Net Income Margin 2.9% Total Debt/Capital 21.2%
Asset Turnover 2.05
Current Ratio 1.11 Net Fixed Asset Turnover 88.44
Quick Ratio 0.60 Accounts receivable turnover-days 48.43
Debt to Assets 10.15% Inventory Days 16.00
Tot Debt to Common Equity 26.83% Accounts Payable Turnover Day 55.73
Accounts Receivable Turnover 7.54 Cash Conversion Cycle 8.70
Inventory Turnover 22.81
Fiscal Year Ended
Hon Hai Precision Industry Co LtdPrice/Volume
Valuation Analysis
100'529.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
3'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011! !!
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
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16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 2'466'778 0.04 1 29.06.2012 Investment Advisor
JP MORGAN CHASE & CO Multiple Portfolios MF-AGG 2'267'825 0.04 28'567 31.08.2012 Investment Advisor
FISHER INVESTMENTS I FISHER INVESTMENTS 13F 2'134'385 0.04 2'134'385 30.06.2012 Investment Advisor
DWS INVESTMENT S A Multiple Portfolios MF-AGG 2'119'700 0.04 - 31.08.2012 Mutual Fund Manager
LANSFORSAKRINGAR FON Multiple Portfolios MF-AGG 1'533'159 0.03 (653'473) 30.06.2012 Investment Advisor
VALIC CO I Multiple Portfolios MF-AGG 1'461'922 0.02 - 30.06.2012 Investment Advisor
DEKA INTERNATIONAL S Multiple Portfolios MF-AGG 1'302'699 0.02 (82'007) 31.12.2011 Mutual Fund Manager
LAZARD GLOBAL ACTIVE Multiple Portfolios MF-AGG 1'150'401 0.02 - 30.09.2012 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 1'014'532 0.02 - 30.06.2012 Investment Advisor
SEDCO CAPITAL GLOBAL Multiple Portfolios MF-AGG 1'006'844 0.02 - 31.08.2012 Mutual Fund Manager
ALLIANZ OF AMERICA Multiple Portfolios MF-AGG 889'934 0.02 (65'833) 30.06.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 785'010 0.01 657'030 30.03.2012 Investment Advisor
BNP PARIBAS ASSET MA Multiple Portfolios MF-AGG 772'264 0.01 (387'480) 31.05.2012 Mutual Fund Manager
FRANK RUSSELL TRUST Multiple Portfolios MF-AGG 723'593 0.01 - 31.05.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 682'698 0.01 11'825 30.06.2012 Investment Advisor
MACKENZIE FINANCIAL Multiple Portfolios MF-AGG 610'751 0.01 - 31.07.2012 Investment Advisor
SMITH BARNEY FUND MA Multiple Portfolios MF-AGG 539'575 0.01 (36'325) 29.06.2012 Investment Advisor
PRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 527'952 0.01 - 31.08.2012 Investment Advisor
UBS GLOBAL ASSET MAN Multiple Portfolios MF-AGG 524'955 0.01 - 02.10.2012 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 457'667 0.01 92'985 31.05.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
#N/A N/A
Holdings By:
Hon Hai Precision Industry Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
PetroChina Company Limited explores, develops, and produces crude oil and
natural gas. The Company also refines, transports, and distributes crude oil
and petroleum products, produces and sells chemicals, and transmits, markets
and sells natural gas.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (08.02.2012) 11.92
52-Week Low (19.12.2011) 8.85
Daily Volume
10.7
52-Week High % Change -10.23% Dividend Yield 3.67
52-Week Low % Change 20.90% Beta 1.00
% 52 Week Price Range High/Low 52.44% Equity Float -
Shares Out 30.06.2012 21'098.9 Short Int -
2'002'693.75 1 Yr Total Return 19.42%
Total Debt 318'002.00 YTD Return 15.22%
Preferred Stock 0.0 Adjusted BETA 1.001
Minority Interest 79'801.0 Analyst Recs 36
Cash and Equivalents 61'590.00 Consensus Rating 3.722
Enterprise Value 2'052'821.07
Average Volume 5 Day 62'580'300
857 HK EQUITY YTD Change - Average Volume 30 Day 63'892'930
857 HK EQUITY YTD % CHANGE - Average Volume 3 Month 66'374'260
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
836'353.0 1'072'604.0 1'019'275.0 1'465'415.0 2'003'843.0 ######### ######### ######### ######### 541'663.0 586'495.0
6.35x 1.78x 2.57x 1.54x 0.88x 5.01x 3.89x 1.00x 0.94x - -
269'727.0 256'680.0 237'168.0 303'643.0 323'368.0 167'207.0 243'216.0 350'034.0 384'126.7 - -
19.70x 7.45x 11.04x 7.43x 5.48x 0.00x 0.00x 5.86x 5.34x - -
146'750.0 114'453.0 103'387.0 139'992.0 132'961.0 140'667.0 129'012.0 138'146.1 151'938.1 29'283.0 -
15.86x 9.49x 14.65x 11.33x 10.74x 12.30x 11.62x 11.45x 10.36x - -
EBITDA 323'368.00 Long-Term Rating Date -
EBIT 185'295.00 Long-Term Rating -
Operating Margin 9.25% Long-Term Outlook -
Pretax Margin 9.19% Short-Term Rating Date -
Return on Assets 7.44% Short-Term Rating -
Return on Common Equity 13.70%
Return on Capital 11.50% EBITDA/Interest Exp. 27.94
Asset Turnover 1.12% (EBITDA-Capex)/Interest Exp. 4.79
Net Debt/EBITDA 0.79
Gross Margin - Total Debt/EBITDA 0.98
EBITDA Margin 16.1%
EBIT Margin 9.2% Total Debt/Equity 31.7%
Net Income Margin 6.6% Total Debt/Capital 22.7%
Asset Turnover 1.12
Current Ratio 0.68 Net Fixed Asset Turnover 1.49
Quick Ratio 0.23 Accounts receivable turnover-days 10.70
Debt to Assets 16.58% Inventory Days -
Tot Debt to Common Equity 31.71% Accounts Payable Turnover Day -
Accounts Receivable Turnover 34.12 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
PetroChina Co LtdPrice/Volume
Valuation Analysis
102'771'872.00
Current Price (10/dd/yy) Market Data
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2'000'000.0
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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HK AGENT CO LTD n/a Co File 20'809'855'498 98.63 - 31.12.2011 n/a
ABERDEEN ASSET MANAG n/a EXCH 1'711'231'963 8.11 - 08.08.2012 Investment Advisor
FRANKLIN RESOURCES I n/a Co File 1'270'171'357 6.02 - 31.12.2011 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 1'236'572'386 5.86 - 08.10.2012 Investment Advisor
BLACKROCK INC n/a EXCH 1'177'565'718 5.58 54'894'896 13.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 882'744'136 4.18 16'610'075 30.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 423'700'000 2.01 720'000 12.10.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 350'420'000 1.66 - 30.06.2012 Investment Advisor
CHINA NATIONAL PETRO n/a 20F 291'518'000 1.38 - 31.03.2012 Government
BLACKROCK INC n/a Short (202'404'340) -0.96 (53'778'896) 13.09.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 185'522'740 0.88 (2'561'341) 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 140'542'355 0.67 26'589'155 29.02.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 127'102'965 0.6 202'000 12.10.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 90'866'000 0.43 3'594'000 31.07.2012 Mutual Fund Manager
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 79'168'272 0.38 896'000 30.06.2012 Investment Advisor
HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 74'010'000 0.35 9'270'000 31.12.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 67'291'243 0.32 (15'002'000) 31.03.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 64'988'243 0.31 22'852'243 31.03.2012 Mutual Fund Manager
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 64'278'000 0.3 (22'000) 12.10.2012 Investment Advisor
DANSKE INVEST A/S Multiple Portfolios MF-AGG 63'680'335 0.3 5'048'000 30.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse DAVID HEWITT neutral 3 M 11 Not Provided 15.10.2012
Jefferies LABAN YU buy 5 M 16 12 month 15.10.2012
Renaissance Capital BRADLEY WAY buy 5 M 13 12 month 12.10.2012
Nomura SONIA SONG neutral 3 M 10 Not Provided 09.10.2012
Mirae Asset Securities GORDON KWAN buy 5 M 13 12 month 03.10.2012
Deutsche Bank DAVID HURD hold 3 M 11 12 month 02.10.2012
VTB Capital COLIN SMITH sell 1 N 9 12 month 27.09.2012
Sanford C. Bernstein & Co NEIL BEVERIDGE market perform 3 M 11 12 month 21.09.2012
BNP Paribas Equity Research CHENG KHOO hold 3 M 10 Not Provided 11.09.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 10.09.2012
Standard Chartered DUKE SUTTIKULPANICH in-line 3 M 11 12 month 25.08.2012
Bank of China International LAWRENCE LAU buy 5 M 13 Not Provided 24.08.2012
DBS Vickers WEE KEAT LEE hold 3 M 10 12 month 24.08.2012
Mizuho Securities ANDREW S F CHAN neutral 3 M 9 12 month 24.08.2012
China International Capital Corp BIN GUAN accumulate 4 M 10 12 month 24.08.2012
Citic Securities Co., Ltd HUANG LILI overweight 5 D 11 6 month 24.08.2012
UOB Kay Hian YAN SHI hold 3 M 11 Not Provided 24.08.2012
BOCOM International Holdings WU FEI long-term buy 5 M 13 Not Provided 24.08.2012
ICBC International Securities ANNA YU hold 3 M 9 Not Provided 24.08.2012
Morgan Stanley WEE KIAT TAN Underwt/In-Line 1 M 9 12 month 23.08.2012
JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 9 3 month 23.08.2012
HSBC THOMAS C HILBOLDT neutral 3 M 11 Not Provided 23.08.2012
Macquarie JAMES HUBBARD outperform 5 M 12 12 month 23.08.2012
Daiwa Securities Co. Ltd. ADRIAN LOH outperform 5 M 11 Not Provided 23.08.2012
Barclays SCOTT DARLING overweight 5 M 13 Not Provided 23.08.2012
Guotai Junan GRACE LIU accumulate 4 D 11 Not Provided 14.08.2012
Goldman Sachs ARTHUR YAN neutral/neutral 3 M 10 12 month 02.08.2012
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 15.06.2012
Everbright Securities Co., Ltd VIVIAN CHEUNG not rated #N/A N/A M #N/A N/A Not Provided 31.05.2012
Ji Asia SAMUEL THAWLEY buy 5 M 14 12 month 02.05.2012
Capital Securities Corp TEAM COVERAGE buy 5 U #N/A N/A Not Provided 27.04.2012
GuoSen Securities Co Ltd STEVEN LU neutral 3 M #N/A N/A Not Provided 22.11.2011
RBS PETER HILTON hold 3 M 10 12 month 01.11.2011
SWS Research Co Ltd YE RONG neutral 3 M 10 Not Provided 28.10.2011
Masterlink Securities LI XIN buy 5 M 11 6 month 30.08.2011
Industrial Securities FANG LEI strong buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
PetroChina Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Sberbank of Russia attracts deposits and offers commercial banking services. The
Bank offers time deposits,corporate banking, securities brokerage,credit,
foreign exchange services and sponsors credit cards.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (14.09.2012) 12.85
52-Week Low (01.06.2012) 9.63
Daily Volume
11.85
52-Week High % Change -7.78% Dividend Yield -
52-Week Low % Change 23.12% Beta -
% 52 Week Price Range High/Low 68.99% Equity Float -
Shares Out #N/A N/A - Short Int -
- 1 Yr Total Return -
Total Debt 1'348'630.00 YTD Return -
Preferred Stock 4'405.0 Adjusted BETA -
Minority Interest 3'496.0 Analyst Recs 0
Cash and Equivalents 761'867.00 Consensus Rating -
Enterprise Value -
Average Volume 5 Day 39'472
SBER S1 EQUITY YTD Change - Average Volume 30 Day 117'801
SBER S1 EQUITY YTD % CHANGE - Average Volume 3 Month 62'044
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
531'495.0 704'252.0 987'562.0 981'117.0 1'058'036.0 ######### ######### 856'001.4 947'006.1 - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
106'489.0 97'746.0 24'396.0 182'131.0 316'195.0 294'394.0 315'343.0 330'452.6 345'158.9 - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 4.01x 3.84x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin 53.36% Long-Term Outlook -
Pretax Margin 51.49% Short-Term Rating Date -
Return on Assets 3.25% Short-Term Rating -
Return on Common Equity 28.15%
Return on Capital 14.09% EBITDA/Interest Exp. -
Asset Turnover 0.11% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 107.0%
Net Income Margin 41.1% Total Debt/Capital 51.5%
Asset Turnover 0.11
Current Ratio - Net Fixed Asset Turnover 3.29
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 12.45% Inventory Days -
Tot Debt to Common Equity 107.03% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Sberbank of RussiaPrice/Volume
Valuation Analysis
9'196.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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200'000.0
400'000.0
600'000.0
800'000.0
1'000'000.0
1'200'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011! !!
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 49'865'875 0 9'205'000 30.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 24'930'479 0 8'418'240 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 24'518'344 0 1'101'885 12.10.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 18'384'382 0 1'050'652 30.06.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 11'901'387 0 9'692'644 30.06.2012 Investment Advisor
VAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 10'700'807 0 - 12.10.2012 Investment Advisor
DWS INVESTMENT SA Multiple Portfolios MF-AGG 8'925'000 0 (990'000) 31.08.2012 Mutual Fund Manager
NORDEA INVESTMENT FU Multiple Portfolios MF-AGG 7'778'801 0 21'953 31.08.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 7'491'500 0 - 30.06.2012 Investment Advisor
JANUS CAPITAL MANAGE Multiple Portfolios MF-AGG 6'693'682 0 6'571'290 30.06.2012 Investment Advisor
THORNBURG INVESTMENT THORNBURG INVESTMENT 13F 6'343'456 0 207'257 30.06.2012 Investment Advisor
EAST CAPITAL ASSET M Multiple Portfolios MF-AGG 6'239'488 0 306'800 30.06.2012 Investment Advisor
JPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 5'098'671 0 - 30.04.2012 Investment Advisor
GUARDIAN INVESTOR SE Multiple Portfolios MF-AGG 3'644'700 0 778'400 30.06.2012 Investment Advisor
PUTNAM INVESTMENT MA Multiple Portfolios MF-AGG 3'370'692 0 218'213 30.06.2012 Investment Advisor
HARDING LOEVNER LP Multiple Portfolios MF-AGG 3'367'300 0 605'300 30.06.2012 Investment Advisor
ALLIANCEBERNSTEIN LU Multiple Portfolios MF-AGG 2'699'585 0 258'004 31.08.2012 Investment Advisor
UNION INVESTMENT GMB Multiple Portfolios MF-AGG 2'690'600 0 - 30.03.2012 Investment Advisor
THAMES RIVER CAPITAL Multiple Portfolios MF-AGG 2'475'475 0 (455'000) 29.02.2012 Investment Advisor
KLEINHEINZ CAPITAL P KLEINHEINZ CAPITAL P 13F 2'394'000 0 200'000 30.06.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
#N/A N/A
Holdings By:
Sberbank of Russia ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Naspers Limited is a holding company for a group of companies which operate in
the electronic and print media industries. The Group provides television
subscription and internet services and publishes newspapers, magazines and
books.
Latest Fiscal Year: 03/2012
LTM as of: 01/yy
52-Week High (16.10.2012) 54'795.00
52-Week Low (12.12.2011) 33'450.00
Daily Volume
54578
52-Week High % Change -0.37% Dividend Yield 0.00
52-Week Low % Change 63.16% Beta 0.96
% 52 Week Price Range High/Low 97.59% Equity Float 293.63
Shares Out 30.07.2012 412.1 Short Int -
225'293.02 1 Yr Total Return 52.65%
Total Debt 15'991.00 YTD Return 55.57%
Preferred Stock 0.0 Adjusted BETA 0.963
Minority Interest 2'061.0 Analyst Recs 12
Cash and Equivalents 9'825.00 Consensus Rating 4.167
Enterprise Value 233'520.02
Average Volume 5 Day 1'047'495
NPN SJ EQUITY YTD Change - Average Volume 30 Day 1'133'374
NPN SJ EQUITY YTD % CHANGE - Average Volume 3 Month 1'103'271
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.03.2010 31.03.2011 31.03.2012 01/yy 01/yy 03/13 Y 03/14 Y - -
20'518.4 26'690.1 27'998.0 33'085.0 39'487.0 - - 47'041.9 53'776.3 - -
2.92x 2.41x 4.47x 4.41x 4.71x - - 4.94x 4.32x - -
5'021.0 6'027.7 6'132.0 6'227.0 7'178.0 - - 7'159.7 8'311.1 - -
11.95x 10.68x 20.39x 23.45x 25.91x - - 32.62x 28.11x - -
3'418.1 5'760.8 3'257.0 5'260.0 2'894.0 - - 6'960.1 9'059.5 - -
13.10x 19.35x 35.80x 32.36x 33.23x - - 28.57x 23.59x - -
EBITDA 7'178.00 Long-Term Rating Date -
EBIT 4'868.00 Long-Term Rating -
Operating Margin 12.33% Long-Term Outlook -
Pretax Margin 14.03% Short-Term Rating Date -
Return on Assets 3.83% Short-Term Rating -
Return on Common Equity 6.56%
Return on Capital 6.89% EBITDA/Interest Exp. 5.65
Asset Turnover 0.52% (EBITDA-Capex)/Interest Exp. 4.20
Net Debt/EBITDA 0.86
Gross Margin 47.2% Total Debt/EBITDA 2.23
EBITDA Margin 18.2%
EBIT Margin 12.3% Total Debt/Equity 33.7%
Net Income Margin 7.3% Total Debt/Capital 24.4%
Asset Turnover 0.52
Current Ratio 1.39 Net Fixed Asset Turnover 4.80
Quick Ratio 0.95 Accounts receivable turnover-days 28.85
Debt to Assets 19.67% Inventory Days 17.27
Tot Debt to Common Equity 33.65% Accounts Payable Turnover Day 40.94
Accounts Receivable Turnover 12.69 Cash Conversion Cycle 5.18
Inventory Turnover 21.19
Fiscal Year Ended
Naspers LtdPrice/Volume
Valuation Analysis
580'076.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
45'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
STATE STREET BANK & #N/A N/A SJ-REG 70'549'708 17.12 - 28.09.2012 Investment Advisor
GOVERNMENT EMP PENSI #N/A N/A SJ-REG 41'081'517 9.97 - 28.09.2012 Government
DODGE & COX Multiple Portfolios MF-AGG 27'732'495 6.73 (450'000) 30.06.2012 Investment Advisor
JP MORGAN CHASE BANK #N/A N/A SJ-REG 26'326'985 6.39 - 28.09.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 20'829'000 5.05 700'000 30.06.2012 Investment Advisor
NASPERS SHARE TRUST n/a SJ-REG 17'054'178 4.14 - 28.09.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 16'165'125 3.92 403'467 30.09.2012 Investment Advisor
DEUTSCHE SECURITIES #N/A N/A SJ-REG 14'063'255 3.41 - 28.09.2012 Unclassified
NORTHERN TR AVFC GOV n/a SJ-REG 9'414'766 2.28 - 28.09.2012 n/a
JP MORGAN CHASE BANK #N/A N/A SJ-REG 8'294'589 2.01 - 28.09.2012 Investment Advisor
BANK OF NEW YORK #N/A N/A SJ-REG 6'409'123 1.56 - 28.09.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 6'270'000 1.52 - 30.06.2012 Investment Advisor
NORTHERN TRUST COMPA #N/A N/A SJ-REG 5'509'966 1.34 - 28.09.2012 Unclassified
OLD MUTUAL LIFE ASSU #N/A N/A SJ-REG 5'367'772 1.3 - 28.09.2012 Insurance Company
GSCO EQUITY CLIENTS n/a SJ-REG 5'314'245 1.29 - 28.09.2012 n/a
GEPF CORONATION FM n/a SJ-REG 5'257'199 1.28 - 28.09.2012 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 4'980'029 1.21 327 12.10.2012 Investment Advisor
MELLON BANK NA #N/A N/A SJ-REG 4'494'521 1.09 - 28.09.2012 Investment Advisor
CORONATION ASSET MAN Multiple Portfolios MF-AGG 4'455'745 1.08 (201'080) 30.06.2012 Investment Advisor
ROYAL BANK OF CANADA #N/A N/A SJ-REG 3'842'636 0.93 - 28.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies DAVID REYNOLDS hold 3 U 50'600 12 month 12.10.2012
Avior Research KEVIN MATTISON neutral 3 M 60'091 Not Provided 11.10.2012
SBG Securities JENNIFER HENRY buy 5 M 59'000 12 month 10.10.2012
Morgan Stanley EDWARD C HILL-WOOD Overwt/In-Line 5 M 58'500 12 month 06.10.2012
JPMorgan ZIYAD JOOSUB overweight 5 M 62'511 9 month 03.10.2012
BPI KATE TURNER-SMITH hold 3 N 52'000 Not Provided 13.08.2012
Renaissance Capital DAVID FERGUSON buy 5 M 57'500 Not Provided 25.07.2012
Credit Suisse RICHARD BARKER outperform 5 M 50'000 Not Provided 06.07.2012
Goldman Sachs ALEXANDER BALAKHNIN Buy/Neutral 5 M 54'500 12 month 29.06.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 31.01.2012
Holdings By:
Naspers Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Sasol is an integrated oil and gas company with substantial chemical interests,
with production facilities located in South Africa, Europe, North America and
Asia. The Company operates commercial scale facilities to produce fuels and
chemicals from coal in South Africa, and is developing ventures internationally
to convert natural gas into clean diesel fuel.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (20.01.2012) 41'150.00
52-Week Low (12.07.2012) 33'321.00
Daily Volume
38365
52-Week High % Change -6.77% Dividend Yield 4.56
52-Week Low % Change 15.14% Beta 1.12
% 52 Week Price Range High/Low 58.87% Equity Float 404.27
Shares Out 12.10.2012 645.8 Short Int -
247'744.33 1 Yr Total Return 14.98%
Total Debt 16'122.00 YTD Return 4.24%
Preferred Stock 0.0 Adjusted BETA 1.118
Minority Interest 3'080.0 Analyst Recs 17
Cash and Equivalents 13'172.00 Consensus Rating 3.353
Enterprise Value 253'774.33
Average Volume 5 Day 1'282'376
SOL SJ EQUITY YTD Change - Average Volume 30 Day 2'306'029
SOL SJ EQUITY YTD % CHANGE - Average Volume 3 Month 1'944'447
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y 06/11 Q2 09/11 Q3
129'943.0 137'836.0 122'256.0 142'436.0 169'446.0 - - 175'677.1 177'910.4 - -
2.52x 1.31x 1.53x 1.71x 1.38x - - 1.44x 1.43x - -
39'053.0 31'194.0 31'748.0 37'453.0 0.0 - - 49'564.3 49'829.2 - -
8.40x 5.81x 5.88x 6.49x 0.00x - - 5.12x 5.09x - -
22'417.0 13'648.0 15'941.0 19'794.0 23'583.0 - - 26'643.2 26'187.6 - -
12.10x 10.62x 10.34x 10.52x 8.10x - - 8.78x 8.81x - -
EBITDA 37'453.00 Long-Term Rating Date 01.08.2005
EBIT 36'758.00 Long-Term Rating -
Operating Margin 21.69% Long-Term Outlook NEG
Pretax Margin 21.25% Short-Term Rating Date 19.02.2003
Return on Assets 12.36% Short-Term Rating A-2
Return on Common Equity 20.25%
Return on Capital 18.91% EBITDA/Interest Exp. 20.14
Asset Turnover 0.89% (EBITDA-Capex)/Interest Exp. 9.03
Net Debt/EBITDA 0.04
Gross Margin 34.5% Total Debt/EBITDA 0.44
EBITDA Margin 26.3%
EBIT Margin 21.7% Total Debt/Equity 12.9%
Net Income Margin 13.9% Total Debt/Capital 11.2%
Asset Turnover 0.89
Current Ratio 2.12 Net Fixed Asset Turnover 1.42
Quick Ratio 1.28 Accounts receivable turnover-days 53.43
Debt to Assets 7.91% Inventory Days 64.57
Tot Debt to Common Equity 12.87% Accounts Payable Turnover Day 41.27
Accounts Receivable Turnover 6.85 Cash Conversion Cycle 77.25
Inventory Turnover 5.67
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Sasol LtdPrice/Volume
Valuation Analysis
1'158'754.00
Current Price (10/dd/yy) Market Data
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0.0
20'000.0
40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
140'000.0
160'000.0
180'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GOVERNMENT EMP PENSI #N/A N/A SJ-REG 64'541'875 9.99 - 28.09.2012 Government
KONOIL PTY LIMITED n/a SJ-REG 53'266'887 8.25 - 28.09.2012 n/a
STATE STREET BANK & #N/A N/A SJ-REG 33'927'139 5.25 - 28.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 23'385'396 3.62 489'573 30.09.2012 Investment Advisor
SASOL INZALO EMPL SC n/a SJ-REG 23'339'310 3.61 - 28.09.2012 n/a
ALLAN GRAY UNIT TRUS Multiple Portfolios MF-AGG 19'030'504 2.95 1'287'970 29.06.2012 Investment Advisor
JP MORGAN CHASE BANK #N/A N/A SJ-REG 12'379'170 1.92 - 28.09.2012 Investment Advisor
JP MORGAN CHASE BANK #N/A N/A SJ-REG 12'360'431 1.91 - 28.09.2012 Investment Advisor
OLD MUTUAL LIFE ASSU #N/A N/A SJ-REG 11'373'702 1.76 - 28.09.2012 Insurance Company
NORTHERN TR AVFC GOV n/a SJ-REG 10'677'541 1.65 - 28.09.2012 n/a
SASOL INZALO FOUNDAT n/a SJ-REG 9'461'882 1.47 - 28.09.2012 n/a
SASOL INVESTMENT COM n/a SJ-REG 8'809'886 1.36 - 28.09.2012 n/a
BANK OF NEW YORK #N/A N/A SJ-REG 8'486'936 1.31 - 28.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 7'267'005 1.13 (174) 12.10.2012 Investment Advisor
SANLAM LIFE INSURANC #N/A N/A SJ-REG 7'148'937 1.11 - 28.09.2012 Insurance Company
CITIBANK LONDON #N/A N/A SJ-REG 6'788'792 1.05 - 28.09.2012 Bank
MELLON BANK NA #N/A N/A SJ-REG 6'253'494 0.97 - 28.09.2012 Investment Advisor
CORONATION ASSET MAN Multiple Portfolios MF-AGG 6'127'682 0.95 124'672 30.06.2012 Investment Advisor
INVESTEC FUND GROUP Multiple Portfolios MF-AGG 5'901'740 0.91 (97'644) 31.07.2012 Investment Advisor
OLD MUTUAL ASSET MAN Multiple Portfolios MF-AGG 5'664'362 0.88 264'067 31.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Investec CAMPBELL PARRY hold 3 M 43'400 12 month 15.10.2012
BNP Paribas Cadiz Securities NIC DINHAM buy 5 M 44'000 12 month 15.10.2012
Morgan Stanley LEIGH BREGMAN Underwt/In-Line 1 M 37'000 12 month 11.10.2012
HSBC SRIHARSHA PAPPU underweight 1 D 37'500 Not Provided 02.10.2012
Goldman Sachs GEYDAR MAMEDOV neutral/neutral 3 M 45'550 12 month 18.09.2012
Renaissance Capital GERHARD ENGELBRECHT hold 3 D 41'000 Not Provided 17.09.2012
Avior Research DAVID LERCHE neutral 3 M 42'900 Not Provided 17.09.2012
Nedgroup Securities MOHAMED KHARVA sell 1 M 37'000 12 month 14.09.2012
Barclays CAROLINE LEARMONTH equalweight 3 M 37'500 Not Provided 10.09.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 10.09.2012
Credit Suisse ANDREY OVCHINNIKOV neutral 3 M 33'900 Not Provided 07.09.2012
JPMorgan ALEX COMER overweight 5 M 41'400 9 month 23.07.2012
Deutsche Bank JARRETT GELDENHUYS buy 5 M 45'000 12 month 03.07.2012
Afrifocus Securities JUI KULKARNI buy 5 U #N/A N/A Not Provided 26.03.2012
Holdings By:
Sasol Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
China Life Insurance Co., Limited offers a wide range of life, accident, and
health insurance products and services.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (23.02.2012) 24.70
52-Week Low (04.06.2012) 17.00
Daily Volume
23.4
52-Week High % Change -5.26% Dividend Yield 1.22
52-Week Low % Change 37.65% Beta 1.16
% 52 Week Price Range High/Low 81.17% Equity Float 7'441.18
Shares Out 31.07.2012 7'441.2 Short Int -
648'420.19 1 Yr Total Return 16.79%
Total Debt 42'990.00 YTD Return 23.79%
Preferred Stock 0.0 Adjusted BETA 1.161
Minority Interest 1'858.0 Analyst Recs 34
Cash and Equivalents 55'985.00 Consensus Rating 3.324
Enterprise Value -
Average Volume 5 Day 27'504'220
2628 HK EQUITY YTD Change - Average Volume 30 Day 29'893'700
2628 HK EQUITY YTD % CHANGE - Average Volume 3 Month 30'549'120
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 03/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
191'372.0 299'478.0 339'262.0 385'446.0 370'352.0 393'192.0 390'669.0 368'903.6 407'820.3 - -
7.65x 1.74x 2.68x 1.61x 1.16x 2.89x 0.25x 1.40x 1.25x - -
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
38'879.0 19'137.0 32'881.0 33'626.0 18'331.0 31'383.0 18'381.0 23'349.2 31'922.8 - -
27.36x 30.50x 29.11x 22.62x 23.96x 22.15x 0.00x 22.41x 16.66x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating AA-
Operating Margin 5.18% Long-Term Outlook STABLE
Pretax Margin 5.54% Short-Term Rating Date -
Return on Assets 1.22% Short-Term Rating -
Return on Common Equity 9.16%
Return on Capital 8.20% EBITDA/Interest Exp. -
Asset Turnover 0.25% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 22.4%
Net Income Margin 4.9% Total Debt/Capital 18.2%
Asset Turnover 0.25
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 2.71% Inventory Days -
Tot Debt to Common Equity 22.45% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Life Insurance Co LtdPrice/Volume
Valuation Analysis
17'821'228.00
Current Price (10/dd/yy) Market Data
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50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
350'000.0
400'000.0
450'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011! !!
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC Multiple Portfolios MF-AGG 304'736'211 4.1 4'846'893 30.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 160'575'000 2.16 275'000 12.10.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 150'281'500 2.02 - 29.06.2012 Investment Advisor
BLACKROCK INC n/a Short (78'915'350) -1.06 - 16.08.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 65'430'075 0.88 (894'460) 31.12.2011 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 55'270'000 0.74 (9'975'000) 30.06.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 53'587'693 0.72 (29'748'217) 31.07.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 49'994'058 0.67 74'000 12.10.2012 Investment Advisor
COMGEST GROWTH PLC Multiple Portfolios MF-AGG 34'090'000 0.46 - 30.06.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 31'894'053 0.43 (70'098'775) 29.02.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 31'653'000 0.43 (15'178'900) 30.06.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 25'317'342 0.34 4'239'000 31.03.2012 Investment Advisor
INVESCO ASSET MANAGE Multiple Portfolios MF-AGG 21'845'000 0.29 9'795'000 31.05.2012 Mutual Fund Manager
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 21'751'000 0.29 (9'381'000) 31.08.2012 Investment Advisor
CHINA ASSET MANAGEME Multiple Portfolios MF-AGG 21'000'000 0.28 8'000'000 31.12.2011 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 20'558'680 0.28 (5'886'320) 30.06.2012 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 15'615'296 0.21 (137'986) 31.08.2012 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 15'359'000 0.21 (1'449'000) 29.06.2012 Investment Advisor
RCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 15'120'000 0.2 1'400'000 30.06.2012 Investment Advisor
HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 15'002'000 0.2 4'429'000 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies BARON NIE hold 3 M 23 12 month 15.10.2012
Credit Suisse ARJAN VAN VEEN neutral 3 M 23 Not Provided 10.10.2012
China International Capital Corp TANG SHENGBO buy 5 M 26 12 month 10.10.2012
Keefe, Bruyette & Woods STANLEY TSAI underperform 1 M 22 12 month 27.09.2012
Deutsche Bank ESTHER CHWEI buy 5 M 27 12 month 14.09.2012
BOCOM International Holdings LI WENBING buy 5 M 26 12 month 14.09.2012
JPMorgan CHAN BAO LING neutral 3 M 21 3 month 03.09.2012
DBS Vickers PING CHENG hold 3 M 22 12 month 30.08.2012
Morgan Stanley BEN LIN Equalwt/In-Line 3 M 23 12 month 29.08.2012
Macquarie SCOTT G RUSSELL neutral 3 M 24 12 month 29.08.2012
Bank of China International SUN PENG hold 3 M 22 Not Provided 29.08.2012
Kim Eng Securities IVAN LI buy 5 U 24 12 month 29.08.2012
Mizuho Securities THOMAS J MONACO underperform 1 M 12 12 month 29.08.2012
Nomura DAVID CHUNG buy 5 M 34 Not Provided 29.08.2012
SWS Research Co Ltd ROBERT HU neutral 3 M 22 Not Provided 29.08.2012
Guotai Junan FELIX LUO accumulate 4 M 26 Not Provided 29.08.2012
UOB Kay Hian EDMOND LAW hold 3 M 21 Not Provided 29.08.2012
Core Pacific OLIVE XIA hold 3 M 23 12 month 29.08.2012
Barclays MARK KELLOCK equalweight 3 U 27 Not Provided 29.08.2012
HSBC JAMES GARNER neutral 3 M 24 Not Provided 28.08.2012
CCB International Securities Ltd KENNETH YUE neutral 3 M 21 Not Provided 28.08.2012
BNP Paribas Equity Research DORRIS CHEN hold 3 M 21 12 month 21.08.2012
Capital Securities Corp TEAM COVERAGE buy 5 M #N/A N/A Not Provided 15.08.2012
Goldman Sachs NING MA neutral/neutral 3 M 24 12 month 10.08.2012
ICBC International Securities PIUS CHENG hold 3 M 21 Not Provided 06.07.2012
Standard Chartered PETER O'BRIEN in-line 3 M 17 12 month 27.06.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 22 Not Provided 27.03.2012
Phillip Securities CHEN XINGYU buy 5 U 26 12 month 16.03.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 02.01.2012
Mirae Asset Securities IVAN CHEUNG hold 3 M 20 12 month 18.10.2011
RBS YANAN WANG buy 5 M 36 12 month 01.08.2011
Sun Hung Kai Securities KENIX LAI buy 5 M 35 Not Provided 10.07.2009
Holdings By:
China Life Insurance Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
POSCO manufactures various types of steel products. The Company produces hot
rolled steel, cold rolled steel, stainless steel, and other forms of steel. The
products are mainly used for automobile, construction, and shipbuilding
industries.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.03.2012) 95.27
52-Week Low (01.06.2012) 74.05
Daily Volume
80
52-Week High % Change -16.03% Dividend Yield -
52-Week Low % Change 8.04% Beta 1.13
% 52 Week Price Range High/Low 28.04% Equity Float -
Shares Out 30.09.2012 348.7 Short Int 0.46
27'899.79 1 Yr Total Return -0.33%
Total Debt 11'641'328.00 YTD Return -2.00%
Preferred Stock 0.0 Adjusted BETA 1.134
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 2'187'300.00 Consensus Rating 3.000
Enterprise Value -
Average Volume 5 Day 188'240
PKX US EQUITY YTD Change - Average Volume 30 Day 178'027
PKX US EQUITY YTD % CHANGE - Average Volume 3 Month 187'966
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
22'206'685.0 30'642'410.0 26'953'944.9 32'582'037.0 39'171'703.0 ######### ######### - - - -
1.92x 1.00x 1.74x 1.34x 0.99x 4.95x 3.95x - - - -
6'028'563.1 8'448'098.8 5'207'546.3 7'501'397.7 6'100'453.2 ######### ######### - - - -
7.06x 3.61x 9.02x 5.83x 6.36x 6.83x 6.95x - - - -
3'679'431.4 4'446'933.0 3'172'263.5 3'784'361.1 3'188'844.8 ######### ######### - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
EBITDA 6'100'453.23 Long-Term Rating Date 31.10.2011
EBIT 4'330'380.23 Long-Term Rating A-
Operating Margin 11.05% Long-Term Outlook NEG
Pretax Margin 10.38% Short-Term Rating Date -
Return on Assets 6.26% Short-Term Rating -
Return on Common Equity 8.66%
Return on Capital 7.43% EBITDA/Interest Exp. 14.51
Asset Turnover 0.77% (EBITDA-Capex)/Interest Exp. 6.61
Net Debt/EBITDA 1.55
Gross Margin 15.6% Total Debt/EBITDA 1.91
EBITDA Margin 15.6%
EBIT Margin 11.1% Total Debt/Equity 31.0%
Net Income Margin 8.1% Total Debt/Capital 23.6%
Asset Turnover 0.77
Current Ratio 2.78 Net Fixed Asset Turnover 1.89
Quick Ratio 1.28 Accounts receivable turnover-days 36.19
Debt to Assets 22.08% Inventory Days 72.52
Tot Debt to Common Equity 30.96% Accounts Payable Turnover Day 14.43
Accounts Receivable Turnover 10.08 Cash Conversion Cycle 94.28
Inventory Turnover 5.03
Fiscal Year Ended
POSCOPrice/Volume
Valuation Analysis
119'454.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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5'000'000.0
10'000'000.0
15'000'000.0
20'000'000.0
25'000'000.0
30'000'000.0
35'000'000.0
40'000'000.0
45'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011! !!
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
NIPPON STEEL & SUMIT n/a MOF-JP 4'394'712 1.26 - 01.10.2012 Corporation
NIPPON STEEL & SUMIT n/a MOF-JP 4'394'712 1.26 - 01.10.2012 Corporation
VANGUARD GROUP INC VANGUARD GROUP INC 13F 4'235'647 1.21 46'434 30.06.2012 Investment Advisor
THIRD AVENUE MANAGEM THIRD AVENUE MANAGEM 13F 3'883'880 1.11 (141'207) 30.06.2012 Hedge Fund Manager
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 3'116'962 0.89 38'647 30.06.2012 Investment Advisor
SPRUCEGROVE INVESTME SPRUCEGROVE INVESTME 13F 1'812'408 0.52 212'900 30.06.2012 Investment Advisor
GEICO INDEMNITY COMP GEICO INDEMNITY COMP Sch-D 1'326'574 0.38 - 30.06.2012 Insurance Company
NATIONAL INDEMNITY C NATIONAL INDEMNITY C Sch-D 1'087'900 0.31 - 30.06.2012 Insurance Company
BANK OF AMERICA CORP BANK OF AMERICA 13F 1'043'981 0.3 1'008'072 30.06.2012 Investment Advisor
BRANDES INVESTMENT P BRANDES INVESTMENT P 13F 895'570 0.26 (13'929) 30.06.2012 Investment Advisor
NFJ INVESTMENT GROUP NFJ INVESTMENT GROUP 13F 859'641 0.25 36'820 30.06.2012 Investment Advisor
PRINCIPAL FINANCIAL PRINCIPAL FINANCIAL 13F 631'521 0.18 148'322 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 582'014 0.17 52'276 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I TEMPLETON INVESTMENT 13F 428'081 0.12 62'540 30.06.2012 Investment Advisor
DUPONT CAPITAL MANAG DUPONT CAPITAL MANAG 13F 409'294 0.12 55'840 30.06.2012 Investment Advisor
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 400'339 0.11 (198) 30.06.2012 Investment Advisor
CREDIT SUISSE AG CREDIT SUISSE AG 13F 387'750 0.11 65'363 30.06.2012 Investment Advisor
MAWER INVESTMENT MAN MAWER INVESTMENT MAN 13F 371'339 0.11 6'495 30.06.2012 Investment Advisor
PHILADELPHIA INTERNA PHILADELPHIA INTERNA 13F 360'428 0.1 (38'098) 30.06.2012 Investment Advisor
MANAGED ACCOUNT ADVI MANAGED ACCOUNT ADVI 13F 357'090 0.1 12'776 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs SEUNG SHIN neutral/neutral 3 D 80 12 month 21.06.2012
EVA Dimensions TEAM COVERAGE hold 3 M #N/A N/A Not Provided 18.11.2011
Holdings By:
POSCO ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Infosys Limited provides IT consulting and software services, including
e-business, program management and supply chain solutions. The Group's services
include application development, product co-development, and system
implementation and system engineering. Infosys targets businesses specializing
in the insurance, banking, telecommunication and manufacturing sectors.
Latest Fiscal Year: 03/2012
LTM as of: 09/yy
52-Week High (27.10.2011) 61.22
52-Week Low (24.07.2012) 37.93
Daily Volume
44.57
52-Week High % Change -27.20% Dividend Yield 1.57
52-Week Low % Change 17.51% Beta 1.15
% 52 Week Price Range High/Low 28.51% Equity Float -
Shares Out 01.10.2012 574.2 Short Int 21.84
25'593.54 1 Yr Total Return -19.82%
Total Debt 0.00 YTD Return -11.53%
Preferred Stock 0.0 Adjusted BETA 1.147
Minority Interest 0.0 Analyst Recs 18
Cash and Equivalents 208'420.00 Consensus Rating 3.222
Enterprise Value 1'127'696.50
Average Volume 5 Day 3'733'641
INFY US EQUITY YTD Change - Average Volume 30 Day 2'252'394
INFY US EQUITY YTD % CHANGE - Average Volume 3 Month 1'894'721
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.03.2010 31.03.2011 31.03.2012 09/yy 09/yy 03/13 Y 03/14 Y 12/12 Q3 03/13 Q4
166'920.0 216'930.0 227'420.0 275'010.0 337'340.0 299'400.0 376'240.0 389'028.6 421'229.3 98'781.4 101'433.4
4.52x 3.05x 5.97x 6.16x 4.26x 21.00x 14.02x 2.84x 2.49x 11.23x 10.77x
52'590.0 72'190.0 79'110.0 89'750.0 107'490.0 96'010.0 94'470.0 112'421.7 121'195.7 27'928.6 28'920.3
14.34x 9.16x 17.17x 18.87x 13.37x 13.16x 0.00x 10.03x 9.30x 9.79x 9.59x
46'590.0 59'880.0 62'660.0 68'350.0 83'320.0 72'260.0 93'460.0 90'360.9 96'057.3 22'242.3 23'035.8
17.66x 12.66x 23.82x 27.09x 19.66x 20.03x 15.50x 14.79x 14.09x 14.73x 14.50x
EBITDA 107'490.00 Long-Term Rating Date 07.05.2010
EBIT 98'210.00 Long-Term Rating BBB+
Operating Margin 29.11% Long-Term Outlook NEG
Pretax Margin 34.68% Short-Term Rating Date -
Return on Assets 23.83% Short-Term Rating -
Return on Common Equity 29.08%
Return on Capital 29.08% EBITDA/Interest Exp. -
Asset Turnover 0.96% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -1.94
Gross Margin 44.1% Total Debt/EBITDA 0.00
EBITDA Margin 31.9%
EBIT Margin 29.1% Total Debt/Equity 0.0%
Net Income Margin 24.7% Total Debt/Capital 0.0%
Asset Turnover 0.96
Current Ratio 4.38 Net Fixed Asset Turnover 7.07
Quick Ratio 3.87 Accounts receivable turnover-days 57.15
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 0.65
Accounts Receivable Turnover 6.40 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Infosys LtdPrice/Volume
Valuation Analysis
2'270'257.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
350'000.0
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 8'961'621 1.56 (174'043) 30.06.2012 Investment Advisor
GENESIS ASSET MANAGE GENESIS ASSET MANAGE 13F 7'928'338 1.38 58'684 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 4'348'973 0.76 45'149 30.06.2012 Investment Advisor
UBS GLOBAL ASSET MAN UBS GLOBAL ASSET MAN 13F 4'257'884 0.74 732'300 30.06.2012 Investment Advisor
TRILOGY GLOBAL ADVIS TRILOGY GLOBAL ADVIS 13F 3'562'070 0.62 190'131 30.06.2012 Hedge Fund Manager
INVESCO LTD INVESCO LTD 13F 3'205'445 0.56 546'969 30.06.2012 Investment Advisor
COMMONWEALTH BANK OF COMMONWEALTH BANK OF 13F 2'857'115 0.5 541'895 30.06.2012 Bank
WELLS CAPITAL MANAGE WELLS CAPITAL MANAGE 13F 2'816'880 0.49 887'600 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 2'400'154 0.42 (54'036) 30.06.2012 Investment Advisor
HSBC HOLDINGS PLC HSBC HOLDINGS PLC 13F 2'323'501 0.4 (62'385) 30.06.2012 Investment Advisor
ABERDEEN ASSET MANAG ABERDEEN ASSET MANAG 13F 2'141'064 0.37 95'800 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 1'818'108 0.32 (29'900) 31.08.2012 Investment Advisor
CREDIT SUISSE AG CREDIT SUISSE AG 13F 1'766'511 0.31 351'330 30.06.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'630'513 0.28 389'261 30.06.2012 Pension Fund (ERISA)
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 1'539'100 0.27 453'500 30.06.2012 Investment Advisor
MASSACHUSETTS FINANC MASSACHUSETTS FINANC 13F 1'382'622 0.24 (515'123) 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 1'366'684 0.24 (222'009) 30.06.2012 Investment Advisor
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 1'228'080 0.21 66'200 30.06.2012 Investment Advisor
POLARIS CAPITAL MANA POLARIS CAPITAL MANA 13F 1'181'339 0.21 60'300 30.06.2012 Investment Advisor
PARAMETRIC PORTFOLIO PARAMETRIC PORTFOLIO 13F 1'070'531 0.19 214'633 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets KEITH F BACHMAN market perform 3 M 43 Not Provided 15.10.2012
Janney Montgomery Scott LLC JOSEPH D FORESI neutral 3 M 46 12 month 15.10.2012
Robert W. Baird & Co DAVID J KONING neutral 3 M 44 12 month 15.10.2012
Wells Fargo Securities, LLC EDWARD S CASO JR market perform 3 M #N/A N/A Not Provided 15.10.2012
Cowen and Company MOSHE KATRI outperform 5 M #N/A N/A Not Provided 15.10.2012
Societe Generale RICHARD NGUYEN sell 1 M 38 12 month 12.10.2012
Goldman Sachs RISHI JHUNJHUNWALA neutral/neutral 3 M 48 12 month 12.10.2012
Needham & Co MAYANK TANDON hold 3 M #N/A N/A Not Provided 12.10.2012
Pacific Crest Securities JESSE HULSING sector perform 3 M #N/A N/A Not Provided 12.10.2012
Sanford C. Bernstein & Co RODERICK BOURGEOIS market perform 3 M 40 12 month 12.10.2012
William Blair & Co BHAVAN SURI market perform 3 M #N/A N/A Not Provided 12.10.2012
Oppenheimer & Co GLENN GREENE market perform 3 M #N/A N/A Not Provided 12.10.2012
Susquehanna Financial Group JAMES E FRIEDMAN neutral 3 M 50 12 month 12.10.2012
Stifel Nicolaus DAVID M GROSSMAN hold 3 M #N/A N/A Not Provided 11.10.2012
BOE Securities BINDAL PARIKH TOTLANI hold 3 M 54 12 month 27.01.2012
Jefferies JASON KUPFERBERG hold 3 M 64 12 month 04.01.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Wedge Partners JUN ZHANG no rating system #N/A N/A M #N/A N/A Not Provided 14.09.2011
Holdings By:
Infosys Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA) is a Company that through
its subsidiaries produces, distributes and markets non-alcoholic beverages
throughout Latin America as part of the Coca-Cola system. The Company owns and
operates convenience stores in Mexico and Colombia and holds a stake in
Heineken.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (08.10.2012) 95.64
52-Week Low (25.11.2011) 61.61
Daily Volume
92.77
52-Week High % Change -3.00% Dividend Yield -
52-Week Low % Change 50.58% Beta 0.90
% 52 Week Price Range High/Low 91.57% Equity Float -
Shares Out 10.10.2012 216.1 Short Int 0.60
33'195.20 1 Yr Total Return 36.68%
Total Debt 29'604.00 YTD Return 34.22%
Preferred Stock 0.0 Adjusted BETA 0.897
Minority Interest 57'534.0 Analyst Recs 12
Cash and Equivalents 27'658.00 Consensus Rating 4.000
Enterprise Value -
Average Volume 5 Day 298'597
FMX US EQUITY YTD Change - Average Volume 30 Day 530'020
FMX US EQUITY YTD % CHANGE - Average Volume 3 Month 525'247
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
147'556.1 168'021.7 158'503.0 169'702.0 203'044.0 179'120.9 220'972.1 234'227.6 264'875.5 60'943.9 62'999.6
1.38x 1.25x 1.71x 1.66x 2.00x 6.36x 7.54x 2.04x 1.77x 7.82x 7.51x
27'250.9 29'819.0 26'319.0 28'031.0 33'445.0 29'206.1 33'690.1 37'202.9 42'782.3 9'808.4 12'013.7
7.48x 7.07x 10.32x 10.06x 12.16x 10.69x 14.19x - - - -
8'510.4 6'707.6 9'908.0 40'251.0 15'133.0 14'045.3 15'832.0 17'783.9 20'931.0 4'823.6 4'907.8
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 27.00x 22.66x 22.86x 21.73x
EBITDA 33'445.00 Long-Term Rating Date -
EBIT 26'904.00 Long-Term Rating -
Operating Margin 13.25% Long-Term Outlook -
Pretax Margin 13.97% Short-Term Rating Date -
Return on Assets 6.07% Short-Term Rating -
Return on Common Equity 12.06%
Return on Capital 11.43% EBITDA/Interest Exp. 11.40
Asset Turnover 0.81% (EBITDA-Capex)/Interest Exp. 7.78
Net Debt/EBITDA 0.06
Gross Margin 41.9% Total Debt/EBITDA 0.89
EBITDA Margin 16.5%
EBIT Margin 13.3% Total Debt/Equity 22.2%
Net Income Margin 7.5% Total Debt/Capital 13.4%
Asset Turnover 0.81
Current Ratio 1.53 Net Fixed Asset Turnover 4.35
Quick Ratio 0.93 Accounts receivable turnover-days 14.27
Debt to Assets 10.78% Inventory Days 39.95
Tot Debt to Common Equity 22.16% Accounts Payable Turnover Day 75.55
Accounts Receivable Turnover 25.58 Cash Conversion Cycle -21.33
Inventory Turnover 9.14
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Fomento Economico Mexicano SAB de CVPrice/Volume
Valuation Analysis
423'907.00
Current Price (10/dd/yy) Market Data
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150'000.0
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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011! !!
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CASCADE INVESTMENT L n/a 13D 27'887'349 12.9 1'000'000 25.03.2011 Investment Advisor
ABERDEEN ASSET MANAG ABERDEEN ASSET MANAG 13F 27'493'416 12.72 (1'657'303) 30.06.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 7'418'519 3.43 (1'014'720) 30.06.2012 Investment Advisor
VONTOBEL ASSET MANAG VONTOBEL ASSET MANAG 13F 4'961'289 2.3 613'554 30.06.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 4'207'015 1.95 45'877 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 3'843'838 1.78 (71'239) 30.06.2012 Investment Advisor
MORGAN STANLEY INVES MORGAN STANLEY INVES 13F 3'629'908 1.68 5'108 30.06.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 2'933'618 1.36 (318'695) 30.06.2012 Investment Advisor
GENESIS ASSET MANAGE GENESIS ASSET MANAGE 13F 2'362'247 1.09 (572'163) 30.06.2012 Investment Advisor
MAVERICK CAPITAL LTD MAVERICK CAPITAL LTD 13F 1'974'449 0.91 775'234 30.06.2012 Hedge Fund Manager
CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 1'447'256 0.67 (79'077) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 1'415'190 0.65 321'201 30.06.2012 Investment Advisor
HARRIS TRUST & SAVIN Multiple Portfolios MF-AGG 1'400'120 0.65 138'325 29.06.2012 Unclassified
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 1'256'735 0.58 (11'513) 30.06.2012 Investment Advisor
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 1'239'174 0.57 (24'343) 30.06.2012 Investment Advisor
FIDELITY INTERNATION FIDELITY INTERNATION 13F 1'214'642 0.56 235'988 30.06.2012 Investment Advisor
VONTOBEL ASSET MANAG Multiple Portfolios MF-AGG 995'112 0.46 52'676 29.06.2012 Investment Advisor
PIONEER INVESTMENT M PIONEER INVESTMENT M 13F 989'648 0.46 (110'378) 30.06.2012 Investment Advisor
FRANK RUSSELL TRUST FRANK RUSSELL COMPAN 13F 975'976 0.45 319'098 30.06.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 951'570 0.44 (125'037) 29.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Itau BBA Securities RENATO SALOMONE market perform 3 N 104 Not Provided 07.10.2012
Deutsche Bank JOSE J YORDAN hold 3 M 97 12 month 26.09.2012
Grupo Santander LUIS MIRANDA hold 3 M 103 Not Provided 25.09.2012
JPMorgan ALAN ALANIS overweight 5 M 102 15 month 13.09.2012
Morgan Stanley LORE SERRA Overwt/In-Line 5 U 93 12 month 16.08.2012
HSBC LAUREN E TORRES overweight 5 M 103 Not Provided 30.07.2012
Banco BTG Pactual SA RAFAEL SHIN buy 5 M 94 12 month 30.07.2012
Scotia Capital RODRIGO ECHAGARAY sector perform 3 M 83 12 month 30.07.2012
Banorte-IXE MARISOL HUERTA MONDRAGON hold 3 M 98 Not Provided 27.07.2012
Barclays GABRIEL VAZ DE LIMA overweight 5 M 106 Not Provided 27.07.2012
Holdings By:
Fomento Economico Mexicano SAB de CV ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Hyundai Mobis manufactures and markets automotive parts and equipment, such as
automotive service components, modules, and systems. The Company also contracts
environmental projects, including sewage treatment plant and industrial waste
water treatment plant construction.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (28.10.2011) 364'000.00
52-Week Low (28.02.2012) 261'500.00
Daily Volume
300000
52-Week High % Change -17.58% Dividend Yield 0.58
52-Week Low % Change 14.72% Beta 1.07
% 52 Week Price Range High/Low 34.63% Equity Float 60.96
Shares Out 30.09.2012 97.3 Short Int -
29'203'158.00 1 Yr Total Return -10.71%
Total Debt 1'810'896.00 YTD Return 2.74%
Preferred Stock 127.0 Adjusted BETA 1.073
Minority Interest 0.0 Analyst Recs 46
Cash and Equivalents 2'396'260.00 Consensus Rating 4.913
Enterprise Value 28'063'752.90
Average Volume 5 Day 161'675
012330 KS EQUITY YTD Change - Average Volume 30 Day 195'755
012330 KS EQUITY YTD % CHANGE - Average Volume 3 Month 238'172
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
8'490'912.0 9'373'390.0 10'633'020.0 13'695'717.0 15'886'201.0 ######### ######### ######### ######### - -
0.85x 0.49x 1.50x 1.92x 1.72x 7.91x 6.70x 1.10x 0.95x - -
926'546.0 1'325'678.0 1'652'601.0 2'160'724.0 2'316'807.0 ######### ######### ######### ######### - -
7.78x 3.45x 9.62x 12.15x 11.79x 16.31x 10.49x 8.41x 7.63x - -
776'675.0 1'089'995.0 1'615'220.0 1'628'807.0 1'742'742.0 ######### ######### ######### ######### - -
9.64x 4.96x 9.60x 16.66x 15.99x 21.27x 13.16x 8.15x 7.32x - -
EBITDA 2'316'807.00 Long-Term Rating Date 20.03.2012
EBIT 2'139'542.00 Long-Term Rating BBB+
Operating Margin 13.47% Long-Term Outlook STABLE
Pretax Margin 14.42% Short-Term Rating Date -
Return on Assets 11.30% Short-Term Rating -
Return on Common Equity 16.60%
Return on Capital 14.63% EBITDA/Interest Exp. 59.08
Asset Turnover 1.03% (EBITDA-Capex)/Interest Exp. 51.18
Net Debt/EBITDA -0.25
Gross Margin 19.9% Total Debt/EBITDA 0.78
EBITDA Margin 14.6%
EBIT Margin 13.5% Total Debt/Equity 16.1%
Net Income Margin 11.0% Total Debt/Capital 13.8%
Asset Turnover 1.03
Current Ratio 1.62 Net Fixed Asset Turnover 9.00
Quick Ratio 1.42 Accounts receivable turnover-days 82.42
Debt to Assets 10.96% Inventory Days 21.55
Tot Debt to Common Equity 16.06% Accounts Payable Turnover Day 54.16
Accounts Receivable Turnover 4.43 Cash Conversion Cycle 49.82
Inventory Turnover 16.94
Fiscal Year Ended
Hyundai MobisPrice/Volume
Valuation Analysis
139'117.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
KIA MOTORS CORP n/a EXCH 16'427'074 16.88 - 24.08.2012 Corporation
ALLIANCEBERNSTEIN LP n/a Co File 6'903'539 7.09 - 31.12.2011 Investment Advisor
CHUNG MONG-KOO n/a EXCH 6'778'966 6.96 - 24.08.2012 n/a
CAPITAL GROUP COMPAN n/a EXCH 6'116'500 6.28 251'299 02.10.2012 Investment Advisor
NATIONAL PENSION SER n/a Co File 5'837'749 6 - 31.12.2011 Investment Advisor
HYUNDAI STEEL CO n/a EXCH 5'504'846 5.66 - 24.08.2012 Corporation
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 4'410'264 4.53 557'300 30.06.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 3'178'680 3.27 42'285 30.06.2012 Investment Advisor
HYUNDAI MOBIS n/a EXCH 1'806'615 1.86 - 27.04.2012 Corporation
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'158'053 1.19 (96) 12.10.2012 Investment Advisor
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 1'064'443 1.09 49'195 31.08.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 877'813 0.9 (221'334) 29.02.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 752'239 0.77 (17'370) 30.06.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 588'650 0.6 44'035 15.10.2012 Investment Advisor
SAMSUNG INVESTMENT T Multiple Portfolios MF-AGG 531'590 0.55 (78) 29.06.2012 Investment Advisor
EARNEST PARTNERS LLC EARNEST PARTNERS LLC 13F 446'653 0.46 443'853 30.06.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 427'050 0.44 36'778 30.06.2012 Investment Advisor
KOREA INVESTMENT TRU Multiple Portfolios MF-AGG 422'822 0.43 150'694 31.03.2012 Investment Advisor
MIRAE ASSET GLOBAL I Multiple Portfolios MF-AGG 406'508 0.42 (425'532) 31.03.2012 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 344'245 0.35 (26'894) 29.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Tong Yang Investment Bank AHN SANG JUN buy 5 M 384'000 12 month 16.10.2012
KIWOOM Securities Co Ltd LEE HYUN-SOO buy 5 M 440'000 6 month 15.10.2012
Standard Chartered DAVID KIM outperform 5 M 386'000 12 month 11.10.2012
Korea Investment & Securities SUH SUNGMOON buy 5 M 400'000 12 month 11.10.2012
LIG Investment Securities IN-WOO PARK buy 5 M 400'000 12 month 11.10.2012
HMC Investment Securities Co Ltd LEE MYUNG-HOON buy 5 M 400'000 6 month 10.10.2012
Shinyoung Securities Co., Ltd. HYUNG-SIL LEE buy 5 M 400'000 12 month 10.10.2012
Nomura ANGELA HONG neutral 3 M 340'000 Not Provided 10.10.2012
Macquarie MICHAEL SOHN outperform 5 M 400'000 12 month 09.10.2012
KB Investment & Securities Co., Ltd SHIN CHUNG-KWAN buy 5 M 460'000 12 month 05.10.2012
KTB Securities NAM KYEONG MOON buy 5 M 370'000 12 month 30.09.2012
Kyobo Securities DONG-HA KIM buy 5 M 470'000 12 month 24.09.2012
Barclays PAUL HWANG overweight 5 M 349'000 Not Provided 30.08.2012
Dongbu Securities Co Ltd YIM EUN-YOUNG buy 5 M 380'000 12 month 27.08.2012
Goldman Sachs SEUNG SHIN Buy/Neutral 5 M 360'000 12 month 27.08.2012
Daiwa Securities Co. Ltd. CHUNG SUNG-YOP hold 3 D 310'000 Not Provided 27.08.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 27.08.2012
Samsung Securities YOON PIL JOONG buy 5 M 370'000 12 month 24.08.2012
Credit Suisse HENRY KWON outperform 5 M 456'000 Not Provided 14.08.2012
Deutsche Bank SANJEEV RANA buy 5 M 400'000 12 month 30.07.2012
Daewoo Securities PARK YOUNG HO buy 5 M 378'000 12 month 30.07.2012
NH Investment & Securities LEE SANG-HYUN buy 5 M 380'000 6 month 30.07.2012
Hyundai Securities CHAE HEE-GUEN buy 5 M 380'000 Not Provided 30.07.2012
Eugene Investment & Securities Co., LtdPARK SANG-WON buy 5 M 439'000 12 month 30.07.2012
Shinhan Investment Corp CHOI JUNGHYUK buy 5 M 365'000 12 month 30.07.2012
SK Securities Co Ltd KIM YONG-SOO buy 5 M 380'000 6 month 30.07.2012
Woori Investment & Securities CHO SOO-HONG buy 5 M 410'000 12 month 30.07.2012
HI Investment Securities KOH TAE-BONG buy 5 M 400'000 6 month 30.07.2012
E*Trade Securities Korea KANG SANG-MIN buy 5 M 360'000 12 month 30.07.2012
IBK Securities Co Ltd SAE-HWAN AHN buy 5 M 400'000 Not Provided 30.07.2012
Taurus Investment Securities Co Ltd YANG HEE-JOON buy 5 M 355'000 6 month 30.07.2012
JPMorgan PARK WAN SUN overweight 5 M 390'000 9 month 29.07.2012
Hana Daetoo Securities SONG SUN-JAE buy 5 M 360'000 12 month 29.07.2012
Morgan Stanley PARK SANG-KYOO Overwt/Attractive 5 M 414'000 12 month 27.07.2012
BNP Paribas Equity Research JAMES HIE SUK YOON buy 5 M 410'000 12 month 27.07.2012
Mirae Asset Securities YOON-KI KIM buy 5 M 470'000 12 month 17.07.2012
Golden Bridge Investment & Securities KIM SEUNG-HWAN buy 5 M 393'000 6 month 25.06.2012
BS Securities Co Ltd CHOI DAE-SIK buy 5 N 370'000 6 month 02.05.2012
HSBC PAUL CHOI overweight 5 M 370'000 Not Provided 01.05.2012
Daishin Securities Co., Ltd. CHUNG TAEOH buy 5 M 370'000 6 month 16.03.2012
DBS Vickers JAY KIM buy 5 M 370'000 12 month 30.01.2012
Hanyang Securities KIM YEON-WOO buy 5 M 450'000 6 month 31.10.2011
Holdings By:
Hyundai Mobis ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
ICICI Bank Limited operates a network of bank's located throughout India. The
Group specializes in retail and corporate banking, in addition to Forex and
treasury operations. ICICI Bank also provides a wide variety of investment
banking, insurance and financial services to its clients.
Latest Fiscal Year: 03/2012
LTM as of: 06/yy
52-Week High (04.10.2012) 42.49
52-Week Low (19.12.2011) 24.14
Daily Volume
40
52-Week High % Change -5.86% Dividend Yield -
52-Week Low % Change 65.70% Beta 1.32
% 52 Week Price Range High/Low 86.43% Equity Float -
Shares Out 16.10.2012 574.8 Short Int 4.18
22'990.99 1 Yr Total Return 11.14%
Total Debt 1'769'324.15 YTD Return 54.42%
Preferred Stock - Adjusted BETA 1.316
Minority Interest 14'277.2 Analyst Recs 2
Cash and Equivalents 411'717.50 Consensus Rating 3.000
Enterprise Value -
Average Volume 5 Day 1'138'133
IBN US EQUITY YTD Change - Average Volume 30 Day 1'787'449
IBN US EQUITY YTD % CHANGE - Average Volume 3 Month 1'554'927
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.03.2010 31.03.2011 31.03.2012 06/yy 06/yy 03/13 Y 03/14 Y 09/12 Q2 12/12 Q3
599'917.4 641'516.2 595'176.1 615'647.1 666'619.9 181'789.9 193'005.3 218'285.2 259'993.3 - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
33'982.3 35'769.5 46'702.9 60'932.7 76'429.4 66'690.4 84'183.7 79'373.8 95'259.7 - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 14.81x 12.28x - -
EBITDA - Long-Term Rating Date 30.01.2007
EBIT - Long-Term Rating NR
Operating Margin 25.67% Long-Term Outlook NEG
Pretax Margin 25.66% Short-Term Rating Date 30.01.2007
Return on Assets 1.34% Short-Term Rating A-3
Return on Common Equity 13.11%
Return on Capital 3.58% EBITDA/Interest Exp. -
Asset Turnover 0.12% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 288.7%
Net Income Margin 18.4% Total Debt/Capital 73.8%
Asset Turnover 0.12
Current Ratio - Net Fixed Asset Turnover 12.21
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 29.28% Inventory Days -
Tot Debt to Common Equity 288.74% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
ICICI Bank LtdPrice/Volume
Valuation Analysis
979'925.00
Current Price (10/dd/yy) Market Data
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16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 15'166'335 2.64 3'026'185 30.06.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 7'521'991 1.31 42'891 30.06.2012 Investment Advisor
MASSACHUSETTS FINANC MASSACHUSETTS FINANC 13F 7'415'399 1.29 1'585'610 30.06.2012 Investment Advisor
GLOBAL THEMATIC PART GLOBAL THEMATIC PART 13F 7'190'150 1.25 2'898'771 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 6'310'000 1.1 (958'600) 30.06.2012 Investment Advisor
HARDING LOEVNER LP HARDING LOEVNER LP 13F 5'649'826 0.98 349'656 30.06.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 4'965'000 0.86 (690'000) 30.06.2012 Investment Advisor
WELLS CAPITAL MANAGE WELLS CAPITAL MANAGE 13F 4'570'486 0.8 371'833 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I TEMPLETON GLOBAL ADV 13F 4'465'002 0.78 (330) 30.06.2012 Investment Advisor
EARNEST PARTNERS LLC EARNEST PARTNERS LLC 13F 4'289'751 0.75 2'634'444 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 4'246'164 0.74 (27'173) 30.06.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 4'220'378 0.73 1'358'225 30.06.2012 Investment Advisor
PRINCIPAL FINANCIAL PRINCIPAL FINANCIAL 13F 3'856'699 0.67 1'635'202 30.06.2012 Investment Advisor
HSBC HOLDINGS PLC HSBC HOLDINGS PLC 13F 3'739'510 0.65 493'460 30.06.2012 Investment Advisor
CAPITAL GUARDIAN TRU CAPITAL GUARDIAN TRU 13F 3'376'316 0.59 30'913 30.06.2012 Investment Advisor
CAPITAL INTERNATIONA CAPITAL INTERNATIONA 13F 3'351'184 0.58 4'000 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 2'562'296 0.45 489'844 30.06.2012 Investment Advisor
ABERDEEN ASSET MANAG ABERDEEN ASSET MANAG 13F 2'437'084 0.42 - 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I TEMPLETON INVESTMENT 13F 2'377'906 0.41 (35'667) 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 2'009'506 0.35 828'815 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 18.11.2011
Holdings By:
ICICI Bank Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
China Petroleum and Chemical Corporation (Sinopec) refines, produces and trades
petroleum and petrochemical products such as gasoline, diesel, jet fuel,
kerosene, ethylene, synthetic fibers, synthetic rubber, synthetic resins, and
chemical fertilizers. Also, The company explores for and produces crude oil and
natural gas in China.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.02.2012) 9.67
52-Week Low (11.07.2012) 6.38
Daily Volume
7.82
52-Week High % Change -19.13% Dividend Yield 4.75
52-Week Low % Change 22.57% Beta 0.82
% 52 Week Price Range High/Low 45.90% Equity Float 15'550.58
Shares Out 30.06.2012 16'780.5 Short Int -
660'652.13 1 Yr Total Return 13.96%
Total Debt 240'555.00 YTD Return 0.71%
Preferred Stock 0.0 Adjusted BETA 0.818
Minority Interest 35'016.0 Analyst Recs 36
Cash and Equivalents 25'197.00 Consensus Rating 4.000
Enterprise Value 864'228.21
Average Volume 5 Day 96'313'680
386 HK EQUITY YTD Change - Average Volume 30 Day 75'847'180
386 HK EQUITY YTD % CHANGE - Average Volume 3 Month 69'314'720
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
1'170'539.0 1'387'077.0 1'212'168.0 1'876'758.0 2'463'767.0 ######### ######### ######### ######### 694'626.0 783'948.0
1.73x 0.59x 1.09x 0.48x 0.35x 1.56x 1.35x 0.32x 0.32x - -
127'499.0 29'228.0 151'545.0 178'098.0 170'962.0 0.0 0.0 165'473.3 192'759.1 - -
15.87x 27.82x 8.73x 5.03x 5.05x 0.00x 0.00x 5.22x 4.48x - -
56'515.0 28'445.0 62'677.0 71'782.0 73'225.0 75'523.0 55'155.0 59'332.8 75'075.6 19'009.5 23'647.0
16.90x 12.59x 8.42x 7.62x 7.84x 7.47x 8.86x 9.19x 7.31x - -
EBITDA 170'962.00 Long-Term Rating Date 16.12.2010
EBIT 107'146.00 Long-Term Rating A+
Operating Margin 4.35% Long-Term Outlook STABLE
Pretax Margin 4.24% Short-Term Rating Date -
Return on Assets 6.84% Short-Term Rating -
Return on Common Equity 16.42%
Return on Capital 12.01% EBITDA/Interest Exp. 18.19
Asset Turnover 2.30% (EBITDA-Capex)/Interest Exp. 4.17
Net Debt/EBITDA 1.26
Gross Margin - Total Debt/EBITDA 1.41
EBITDA Margin 6.9%
EBIT Margin 4.3% Total Debt/Equity 50.9%
Net Income Margin 3.0% Total Debt/Capital 32.2%
Asset Turnover 2.30
Current Ratio 0.77 Net Fixed Asset Turnover 3.64
Quick Ratio 0.25 Accounts receivable turnover-days 10.79
Debt to Assets 21.02% Inventory Days -
Tot Debt to Common Equity 50.93% Accounts Payable Turnover Day -
Accounts Receivable Turnover 33.81 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Petroleum & Chemical CorpPrice/Volume
Valuation Analysis
57'158'556.00
Current Price (10/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN CHASE & CO n/a EXCH 1'436'412'609 8.56 - 18.09.2012 Investment Advisor
BLACKROCK INC n/a EXCH 1'159'575'167 6.91 - 28.09.2012 Investment Advisor
FRANKLIN RESOURCES I n/a EXCH 1'006'669'203 6 - 26.01.2012 Investment Advisor
GOVT OF SINGAPORE IN n/a EXCH 803'053'154 4.79 - 27.08.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 753'187'194 4.49 37'213'851 30.09.2012 Investment Advisor
CH PETROLEUM SHENGJU n/a EXCH 425'500'000 2.54 - 09.01.2012 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 419'158'002 2.5 682'000 12.10.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 241'822'937 1.44 86'590'802 29.02.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 227'956'000 1.36 48'556'000 30.06.2012 Investment Advisor
BLACKROCK INC n/a Short (186'321'802) -1.11 - 28.09.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 147'551'551 0.88 (1'940'552) 31.12.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 141'609'528 0.84 164'000 12.10.2012 Investment Advisor
ALLIANZ GLOBAL INV O Multiple Portfolios MF-AGG 108'482'200 0.65 103'986'000 30.09.2012 Investment Advisor
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 94'112'000 0.56 (13'892'000) 29.06.2012 Investment Advisor
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 91'792'998 0.55 (8'354'000) 31.08.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 90'120'000 0.54 (22'168'000) 31.08.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 79'068'342 0.47 138'000 31.03.2012 Investment Advisor
CARNEGIE ASSET MANAG Multiple Portfolios MF-AGG 78'231'071 0.47 1'300'000 31.08.2012 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 74'700'000 0.45 (6'564'000) 31.03.2012 Mutual Fund Manager
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 63'849'400 0.38 558'000 12.10.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse DAVID HEWITT outperform 5 M 8 Not Provided 15.10.2012
Renaissance Capital BRADLEY WAY sell 1 M 7 12 month 12.10.2012
Jefferies LABAN YU buy 5 M 8 12 month 09.10.2012
Nomura SONIA SONG reduce 2 M 7 Not Provided 09.10.2012
Sanford C. Bernstein & Co NEIL BEVERIDGE outperform 5 U 9 12 month 05.10.2012
ICBC International Securities ANNA YU buy 5 M 8 Not Provided 05.10.2012
Deutsche Bank DAVID HURD buy 5 U 9 12 month 02.10.2012
Mirae Asset Securities GORDON KWAN buy 5 M 8 12 month 28.09.2012
VTB Capital COLIN SMITH hold 3 N 8 12 month 27.09.2012
UOB Kay Hian YAN SHI buy 5 M 9 Not Provided 12.09.2012
BNP Paribas Equity Research CHENG KHOO buy 5 M 9 12 month 11.09.2012
SWS Research Co Ltd ALBERT MIAO buy 5 M 10 Not Provided 11.09.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 06.09.2012
Bank of China International LAWRENCE LAU buy 5 U 8 Not Provided 28.08.2012
BOCOM International Holdings WU FEI buy 5 M 8 12 month 28.08.2012
JPMorgan BRYNJAR EIRIK BUSTNES overweight 5 M 9 3 month 27.08.2012
HSBC THOMAS C HILBOLDT underweight 1 M 7 Not Provided 27.08.2012
Capital Securities Corp TEAM COVERAGE hold 3 D 11 Not Provided 27.08.2012
Macquarie JAMES HUBBARD neutral 3 M 7 12 month 27.08.2012
DBS Vickers WEE KEAT LEE hold 3 M 8 12 month 27.08.2012
Mizuho Securities ANDREW S F CHAN neutral 3 M 7 12 month 27.08.2012
Daiwa Securities Co. Ltd. ADRIAN LOH hold 3 M 7 Not Provided 27.08.2012
Barclays SCOTT DARLING equalweight 3 M 10 Not Provided 27.08.2012
Morgan Stanley WEE KIAT TAN Equalwt/In-Line 3 M 8 12 month 26.08.2012
Standard Chartered DUKE SUTTIKULPANICH in-line 3 M 8 12 month 25.08.2012
Goldman Sachs ARTHUR YAN Buy/Neutral 5 M 9 12 month 02.08.2012
Guotai Junan GRACE LIU accumulate 4 D 8 Not Provided 20.07.2012
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 15.06.2012
Masterlink Securities LI XIN hold 3 M 10 6 month 30.03.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 10 Not Provided 08.02.2012
Citic Securities Co., Ltd YIN XIAODONG buy 5 M 10 6 month 11.01.2012
GuoSen Securities Co Ltd STEVEN LU buy 5 M 11 12 month 22.11.2011
RBS PETER HILTON buy 5 M 9 12 month 01.11.2011
China International Capital Corp BIN GUAN buy 5 M 11 12 month 29.08.2011
China Galaxy Securities LI GUOHONG buy 5 M #N/A N/A Not Provided 30.10.2009
Industrial Securities FANG LEI strong buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
China Petroleum & Chemical Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Kia Motors Corporation manufactures, sells, and exports passenger cars,
mini-buses, trucks, and commercial vehicles. The Company also produces various
auto parts.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.05.2012) 84'800.00
52-Week Low (19.12.2011) 64'000.00
Daily Volume
67000
52-Week High % Change -20.99% Dividend Yield 0.90
52-Week Low % Change 4.69% Beta 0.97
% 52 Week Price Range High/Low 10.10% Equity Float 230.71
Shares Out 30.09.2012 405.4 Short Int -
27'159'344.00 1 Yr Total Return -3.83%
Total Debt 3'701'693.00 YTD Return 0.45%
Preferred Stock 0.0 Adjusted BETA 0.965
Minority Interest 0.0 Analyst Recs 46
Cash and Equivalents 2'646'377.00 Consensus Rating 4.870
Enterprise Value 26'828'085.25
Average Volume 5 Day 1'294'519
000270 KS EQUITY YTD Change - Average Volume 30 Day 1'658'591
000270 KS EQUITY YTD % CHANGE - Average Volume 3 Month 1'445'343
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
15'948'542.0 16'382'231.0 18'415'739.0 23'222'969.0 27'742'277.0 ######### ######### ######### ######### ######### #########
0.43x 0.43x 0.57x 0.95x 1.01x 3.68x 4.07x 0.90x 0.83x - -
620'992.0 1'023'733.0 1'827'909.0 2'402'792.0 2'597'837.0 ######### ######### ######### ######### - -
11.09x 6.85x 5.70x 9.21x 10.77x 11.43x 11.08x 9.29x 8.93x - -
13'563.0 113'784.0 1'450'260.0 1'420'636.0 1'804'842.0 ######### ######### ######### ######### - -
258.97x 19.97x 5.08x 13.96x 14.72x 14.82x 13.84x 6.23x 5.73x - -
EBITDA 2'597'837.00 Long-Term Rating Date 20.03.2012
EBIT 1'911'157.00 Long-Term Rating BBB+
Operating Margin 6.89% Long-Term Outlook STABLE
Pretax Margin 8.51% Short-Term Rating Date -
Return on Assets 8.09% Short-Term Rating -
Return on Common Equity 14.92%
Return on Capital 11.82% EBITDA/Interest Exp. 17.61
Asset Turnover 1.24% (EBITDA-Capex)/Interest Exp. 11.69
Net Debt/EBITDA 0.41
Gross Margin 21.0% Total Debt/EBITDA 1.42
EBITDA Margin 9.4%
EBIT Margin 6.9% Total Debt/Equity 28.4%
Net Income Margin 6.5% Total Debt/Capital 22.1%
Asset Turnover 1.24
Current Ratio 0.90 Net Fixed Asset Turnover 4.22
Quick Ratio 0.71 Accounts receivable turnover-days 32.71
Debt to Assets 15.83% Inventory Days 17.83
Tot Debt to Common Equity 28.36% Accounts Payable Turnover Day 52.83
Accounts Receivable Turnover 11.16 Cash Conversion Cycle -2.30
Inventory Turnover 20.47
Fiscal Year Ended
Kia Motors CorpPrice/Volume
Valuation Analysis
1'495'757.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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5'000'000.0
10'000'000.0
15'000'000.0
20'000'000.0
25'000'000.0
30'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
! !!
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HYUNDAI MOTOR CO n/a EXCH 137'318'251 33.88 - 27.04.2012 Corporation
NATIONAL PENSION SER n/a EXCH 28'154'313 6.95 4'133'953 02.11.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 11'089'791 2.74 694'622 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 10'246'417 2.53 (1'066'570) 30.06.2012 Investment Advisor
EUI SUN CHUNG n/a EXCH 7'061'331 1.74 - 27.04.2012 n/a
FIDELITY INTERNATION Multiple Portfolios MF-AGG 4'501'349 1.11 (229'249) 29.02.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 4'278'990 1.06 (348) 12.10.2012 Investment Advisor
SAMSUNG INVESTMENT T Multiple Portfolios MF-AGG 3'374'214 0.83 11'359 29.06.2012 Investment Advisor
KB ASSET MANAGEMENT Multiple Portfolios MF-AGG 2'039'412 0.5 136'229 29.06.2012 Mutual Fund Manager
UBS HANA ASSET MANAG Multiple Portfolios MF-AGG 1'958'044 0.48 311'196 31.03.2012 Mutual Fund Manager
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 1'924'201 0.47 (30'321) 31.08.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 1'908'871 0.47 460'754 31.03.2012 Mutual Fund Manager
MIRAE ASSET GLOBAL I Multiple Portfolios MF-AGG 1'882'949 0.46 316'520 31.03.2012 Investment Advisor
EMPLOYEE STOCK OWNER n/a Co File 1'554'703 0.38 (102'440) 30.09.2011 n/a
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 1'468'000 0.36 (42'700) 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 1'394'469 0.34 1'817 12.10.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 903'006 0.22 (147'991) 31.03.2012 Investment Advisor
KOREA INVESTMENT TRU Multiple Portfolios MF-AGG 852'202 0.21 196'978 31.03.2012 Investment Advisor
ALLIANZ GLOBAL INVES Multiple Portfolios MF-AGG 786'102 0.19 (597'543) 31.03.2012 Mutual Fund Manager
KYOBO AXA INVESTMENT Multiple Portfolios MF-AGG 773'899 0.19 3'803 31.03.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
SK Securities Co Ltd KIM YONG-SOO buy 5 M 105'000 6 month 16.10.2012
Tong Yang Investment Bank AHN SANG JUN buy 5 M 113'000 12 month 16.10.2012
KIWOOM Securities Co Ltd LEE HYUN-SOO buy 5 M 107'000 6 month 15.10.2012
Korea Investment & Securities SUH SUNGMOON buy 5 M 105'000 12 month 11.10.2012
HI Investment Securities KOH TAE-BONG buy 5 M 110'000 6 month 11.10.2012
LIG Investment Securities IN-WOO PARK buy 5 M 100'000 12 month 11.10.2012
HMC Investment Securities Co Ltd LEE MYUNG-HOON buy 5 M 100'000 6 month 10.10.2012
Shinyoung Securities Co., Ltd. HYUNG-SIL LEE buy 5 M 115'000 12 month 10.10.2012
Nomura ANGELA HONG buy 5 M 100'000 Not Provided 10.10.2012
Macquarie MICHAEL SOHN outperform 5 M 86'000 12 month 09.10.2012
IBK Securities Co Ltd SAE-HWAN AHN buy 5 M 100'000 Not Provided 09.10.2012
Standard Chartered DAVID KIM outperform 5 M 99'000 12 month 06.10.2012
KB Investment & Securities Co., Ltd SHIN CHUNG-KWAN buy 5 M 110'000 12 month 05.10.2012
Barclays PAUL HWANG overweight 5 M 87'000 Not Provided 05.10.2012
KTB Securities NAM KYEONG MOON buy 5 M 110'000 12 month 04.10.2012
BNP Paribas Equity Research JAMES HIE SUK YOON buy 5 M 100'000 12 month 04.10.2012
Kyobo Securities SONG SANG-HOON buy 5 M 96'000 12 month 04.10.2012
Hanyang Securities KIM YEON-WOO buy 5 M 110'000 6 month 27.09.2012
Shinhan Investment Corp CHOI JUNGHYUK buy 5 M 110'000 12 month 27.09.2012
Hana Daetoo Securities SONG SUN-JAE buy 5 M 97'000 12 month 26.09.2012
Hanwha Securities Co., Ltd KIM YEON-CHAN buy 5 M 99'000 6 month 24.09.2012
NH Investment & Securities LEE SANG-HYUN buy 5 M 120'000 6 month 19.09.2012
Eugene Investment & Securities Co., LtdPARK SANG-WON buy 5 M 103'000 12 month 19.09.2012
Daiwa Securities Co. Ltd. CHUNG SUNG-YOP outperform 5 D 84'000 Not Provided 19.09.2012
Dongbu Securities Co Ltd YIM EUN-YOUNG buy 5 M 100'000 12 month 17.09.2012
Hyundai Securities CHAE HEE-GUEN buy 5 M 96'000 Not Provided 17.09.2012
Woori Investment & Securities CHO SOO-HONG buy 5 M 105'000 12 month 17.09.2012
Taurus Investment Securities Co Ltd YANG HEE-JOON buy 5 M 107'000 6 month 17.09.2012
Mirae Asset Securities YOON-KI KIM buy 5 M 110'000 12 month 04.09.2012
Goldman Sachs SEUNG SHIN neutral/neutral 3 M 76'000 12 month 27.08.2012
Daewoo Securities PARK YOUNG HO buy 5 M 99'000 12 month 30.07.2012
E*Trade Securities Korea KANG SANG-MIN buy 5 M 120'000 12 month 30.07.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 30.07.2012
JPMorgan PARK WAN SUN overweight 5 M 100'000 9 month 29.07.2012
Morgan Stanley PARK SANG-KYOO Overwt/Attractive 5 M 113'000 12 month 27.07.2012
Samsung Securities YOON PIL JOONG buy 5 M 92'700 12 month 27.07.2012
Credit Suisse HENRY KWON neutral 3 M 70'000 Not Provided 27.07.2012
Daishin Securities Co., Ltd. CHUNG TAEOH buy 5 M 80'000 6 month 22.06.2012
First Global Stockbroking MITUL SHAH market perform 3 M #N/A N/A Not Provided 10.05.2012
HSBC PAUL CHOI overweight 5 M 95'000 Not Provided 16.04.2012
Daniel Stewart & Co AMRIT SINGH outperform 5 M #N/A N/A Not Provided 01.02.2012
DBS Vickers JAY KIM buy 5 M 88'000 12 month 30.01.2012
Deutsche Bank SANJEEV RANA buy 5 M 105'000 12 month 29.07.2011
Holdings By:
Kia Motors Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Standard Bank Group Limited is the holding company for a group of companies
offering financial services. The Group provides services in personal, corporate,
merchant and commercial banking, including insurance broking, mutual fund
management, property fund management, as well as other services. Standard Bank
is also the holding company of Liberty Life Group Limited.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (03.08.2012) 12'000.00
52-Week Low (23.11.2011) 9'185.00
Daily Volume
10492
52-Week High % Change -12.50% Dividend Yield 4.73
52-Week Low % Change 14.23% Beta 0.79
% 52 Week Price Range High/Low 47.60% Equity Float 832.51
Shares Out 15.10.2012 1'605.3 Short Int -
168'432.70 1 Yr Total Return 12.45%
Total Debt 140'450.00 YTD Return 11.14%
Preferred Stock 5'503.0 Adjusted BETA 0.791
Minority Interest 12'988.0 Analyst Recs 18
Cash and Equivalents 163'062.00 Consensus Rating 2.556
Enterprise Value -
Average Volume 5 Day 2'555'747
SBK SJ EQUITY YTD Change - Average Volume 30 Day 4'128'085
SBK SJ EQUITY YTD % CHANGE - Average Volume 3 Month 3'500'023
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
102'996.0 145'080.0 159'993.0 105'806.0 107'845.0 - - 66'563.5 73'714.7 - -
0.00x 0.00x 0.00x 0.00x 0.00x - - - - - -
0.0 0.0 0.0 0.0 0.0 - - - - - -
0.00x 0.00x 0.00x 0.00x 0.00x - - - - - -
14'101.0 14'461.0 11'585.0 11'161.0 13'571.0 - - 14'919.6 16'937.4 - -
9.68x 8.28x 13.23x 14.63x 11.13x - - 11.08x 9.71x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin 28.60% Long-Term Outlook -
Pretax Margin 28.97% Short-Term Rating Date -
Return on Assets 0.96% Short-Term Rating -
Return on Common Equity 14.21%
Return on Capital 6.69% EBITDA/Interest Exp. -
Asset Turnover 0.08% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 141.8%
Net Income Margin 17.7% Total Debt/Capital 54.4%
Asset Turnover 0.08
Current Ratio - Net Fixed Asset Turnover 7.23
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 9.41% Inventory Days -
Tot Debt to Common Equity 141.81% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Standard Bank Group Ltd/South AfricaPrice/Volume
Valuation Analysis
2'140'154.00
Current Price (10/dd/yy) Market Data
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40'000.0
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80'000.0
100'000.0
120'000.0
140'000.0
160'000.0
180'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INDUSTRIAL & COMM BA #N/A N/A SJ-REG 320'369'791 19.96 - 28.09.2012 Bank
GOVERNMENT EMP PENSI #N/A N/A SJ-REG 182'240'873 11.35 - 28.09.2012 Government
STATE STREET BANK & #N/A N/A SJ-REG 142'616'083 8.88 - 28.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 50'449'610 3.14 809'515 30.09.2012 Investment Advisor
TUTUWA STRATEGIC HOL n/a SJ-REG 35'752'909 2.23 - 28.09.2012 n/a
TUTUWA STAFF HOLDING n/a SJ-REG 34'540'805 2.15 - 28.09.2012 n/a
OLD MUTUAL LIFE ASSU #N/A N/A SJ-REG 29'298'581 1.83 - 28.09.2012 Insurance Company
ALLAN GRAY UNIT TRUS Multiple Portfolios MF-AGG 27'205'522 1.69 (45'300) 29.06.2012 Investment Advisor
DODGE & COX Multiple Portfolios MF-AGG 25'379'417 1.58 (15'649'200) 30.06.2012 Investment Advisor
JP MORGAN CHASE BANK #N/A N/A SJ-REG 23'406'468 1.46 - 28.09.2012 Investment Advisor
GEPF SIM PTY LTD FIN n/a SJ-REG 22'289'909 1.39 - 28.09.2012 n/a
CITIBANK NEW YORK #N/A N/A SJ-REG 20'851'361 1.3 - 28.09.2012 Unclassified
CORONATION ASSET MAN Multiple Portfolios MF-AGG 20'554'409 1.28 (1'886'076) 30.06.2012 Investment Advisor
NORTHERN TR AVFC GOV n/a SJ-REG 18'326'693 1.14 - 28.09.2012 n/a
TUTUWA COMMUNITY PTY n/a SJ-REG 17'876'454 1.11 - 28.09.2012 n/a
MELLON BANK NA #N/A N/A SJ-REG 17'524'805 1.09 - 28.09.2012 Investment Advisor
CITIBANK LONDON #N/A N/A SJ-REG 16'394'394 1.02 - 28.09.2012 Bank
BANK OF NEW YORK #N/A N/A SJ-REG 16'147'532 1.01 - 28.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 15'299'057 0.95 1'696 12.10.2012 Investment Advisor
SANLAM LIFE INSURANC #N/A N/A SJ-REG 11'735'083 0.73 - 28.09.2012 Insurance Company
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie CHARLES RUSSELL neutral 3 U 10'800 12 month 05.10.2012
Avior Research FAIZAL MOOLLA outperform 5 M 13'007 Not Provided 26.09.2012
Goldman Sachs WALEED MOHSIN Sell/Neutral 1 D 9'900 12 month 09.09.2012
EVA Dimensions TEAM COVERAGE underweight 1 D #N/A N/A Not Provided 05.09.2012
SBG Securities VOYT KRZYCHYLKIEWICZ hold 3 M 12'000 12 month 04.09.2012
HSBC JAN ROST neutral 3 M 12'000 Not Provided 28.08.2012
Credit Suisse MERVIN NAIDOO underperform 1 M 12'300 Not Provided 27.08.2012
Renaissance Capital ILAN STERMER sell 1 M 10'950 12 month 21.08.2012
Nedgroup Securities DAVID S DANILOWITZ sell 1 M 10'390 12 month 17.08.2012
Morgan Stanley GREG SAFFY Equalwt/In-Line 3 M 11'500 12 month 16.08.2012
JPMorgan NANA FRANCOIS underweight 1 M 11'980 6 month 17.07.2012
Legae Securities PETER MUSHANGWE hold 3 M 12'560 Not Provided 09.07.2012
Deutsche Bank STEFAN SWANEPOEL buy 5 M 12'500 12 month 04.07.2012
Barclays RICHARD LADBROOK underweight 1 N 11'569 Not Provided 12.04.2012
Imara ADDMORE T CHAKURIRA hold 3 M 9'033 Not Provided 23.02.2012
ING Wholesale Banking ANDRZEJ NOWACZEK not rated #N/A N/A M #N/A N/A Not Provided 13.02.2012
Holdings By:
Standard Bank Group Ltd/South Africa ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Shinhan Financial Group Co., Ltd., a holding company, provides a full range of
consumer and commercial banking-related financial services. The company's main
businesses include banking, securities brokerage, trust banking, and assets
management to individuals, businesses, and other financial institutions.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (27.10.2011) 42.49
52-Week Low (23.07.2012) 29.14
Daily Volume
33.77
52-Week High % Change -20.52% Dividend Yield -
52-Week Low % Change 15.91% Beta 1.22
% 52 Week Price Range High/Low 34.71% Equity Float -
Shares Out 30.09.2012 474.2 Short Int 0.27
16'013.72 1 Yr Total Return -13.68%
Total Debt 7'039'393.00 YTD Return -0.98%
Preferred Stock 274'055.0 Adjusted BETA 1.223
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 2'220'166.00 Consensus Rating 5.000
Enterprise Value -
Average Volume 5 Day 50'606
SHG US EQUITY YTD Change - Average Volume 30 Day 56'587
SHG US EQUITY YTD % CHANGE - Average Volume 3 Month 64'083
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
2'749'443.0 2'455'904.0 1'785'561.0 1'043'389.0 2'124'112.0 ######### ######### - - - -
10.49x 8.07x 15.01x 29.98x 11.27x 82.48x 61.10x - - - -
2'702'984.0 2'409'574.0 1'718'698.0 965'508.0 2'051'750.0 ######### ######### - - - -
10.67x 8.22x 15.60x 32.40x 11.67x 22.31x 0.00x - - - -
2'396'377.0 2'020'398.0 1'306'292.0 617'625.0 1'672'908.0 991'948.0 ######### - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
EBITDA 2'051'750.00 Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin 95.86% Long-Term Outlook -
Pretax Margin 79.09% Short-Term Rating Date -
Return on Assets 5.72% Short-Term Rating -
Return on Common Equity 7.04%
Return on Capital 6.22% EBITDA/Interest Exp. -
Asset Turnover 0.07% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA 2.35
Gross Margin - Total Debt/EBITDA 3.43
EBITDA Margin 96.6%
EBIT Margin - Total Debt/Equity 36.7%
Net Income Margin 78.8% Total Debt/Capital 26.6%
Asset Turnover 0.07
Current Ratio - Net Fixed Asset Turnover 1409.50
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 22.82% Inventory Days -
Tot Debt to Common Equity 36.75% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Shinhan Financial Group Co LtdPrice/Volume
Valuation Analysis
27'628.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
3'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011! !!
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC VANGUARD GROUP INC 13F 5'876'132 1.24 182'304 30.06.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 3'633'000 0.77 (2'508) 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 1'291'330 0.27 (7'924) 30.06.2012 Investment Advisor
NEWGATE CAPITAL MANA NEWGATE CAPITAL MANA 13F 587'200 0.12 (45'408) 30.06.2012 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 524'396 0.11 15'102 30.06.2012 Investment Advisor
JOHN HANCOCK ADVISER Multiple Portfolios MF-AGG 509'614 0.11 - 30.04.2011 Investment Advisor
CREDIT SUISSE AG CREDIT SUISSE AG 13F 383'140 0.08 (53'842) 30.06.2012 Investment Advisor
MANAGED ACCOUNT ADVI MANAGED ACCOUNT ADVI 13F 369'442 0.08 1'832 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 343'450 0.07 99'088 30.06.2012 Investment Advisor
TEACHERS RETIREMENT TEACHERS RETIREMENT 13F 234'000 0.05 40'000 30.06.2012 Pension Fund (ERISA)
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 227'896 0.05 - 31.07.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 200'438 0.04 (17'828) 30.06.2012 Investment Advisor
TODD-VEREDUS ASSET M TODD-VEREDUS ASSET M 13F 198'782 0.04 2'176 30.06.2012 Investment Advisor
NASDAQ GLOBAL FUNDS Multiple Portfolios MF-AGG 191'392 0.04 - 15.10.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 182'006 0.04 (17'486) 30.06.2012 Investment Advisor
HSBC HOLDINGS PLC HSBC HOLDINGS PLC 13F 170'034 0.04 61'782 30.06.2012 Investment Advisor
BNP PARIBAS INV PART BNP PARIBAS INVESTME 13F 156'422 0.03 40'318 30.06.2012 Investment Advisor
BRANDES INVESTMENT P BRANDES INVESTMENT P 13F 129'168 0.03 10'610 30.06.2012 Investment Advisor
FRANK RUSSELL TRUST FRANK RUSSELL COMPAN 13F 127'800 0.03 - 30.06.2012 Investment Advisor
BARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 127'800 0.03 - 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Holdings By:
Shinhan Financial Group Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Ping An Insurance (Group) Company of China Limited provides a variety of
insurance service in China. The Company writes property, casualty, and life
insurance. Ping An Insurance also offers financial services.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (23.02.2012) 68.60
52-Week Low (09.01.2012) 46.80
Daily Volume
61.35
52-Week High % Change -10.57% Dividend Yield 0.81
52-Week Low % Change 31.09% Beta 1.40
% 52 Week Price Range High/Low 64.45% Equity Float 1'819.53
Shares Out 30.06.2012 3'129.7 Short Int -
439'302.38 1 Yr Total Return 16.04%
Total Debt 322'062.00 YTD Return 20.80%
Preferred Stock 0.0 Adjusted BETA 1.399
Minority Interest 40'475.0 Analyst Recs 34
Cash and Equivalents 94'582.00 Consensus Rating 4.088
Enterprise Value 244'712.20
Average Volume 5 Day 10'667'740
2318 HK EQUITY YTD Change - Average Volume 30 Day 11'376'430
2318 HK EQUITY YTD % CHANGE - Average Volume 3 Month 10'413'000
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
139'137.0 87'666.0 152'961.0 195'052.0 272'683.0 227'433.0 306'171.0 294'676.5 339'352.1 - -
5.10x 3.19x 3.24x 3.37x 2.19x 10.51x 7.29x 1.86x 1.62x - -
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
18'688.0 1'418.0 13'883.0 17'311.0 19'475.0 20'457.0 20'677.0 24'711.4 29'449.0 - -
30.00x 173.82x 31.68x 32.03x 16.61x 24.90x 19.34x 15.59x 13.22x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin 19.28% Long-Term Outlook -
Pretax Margin 11.01% Short-Term Rating Date -
Return on Assets 1.13% Short-Term Rating -
Return on Common Equity 16.04%
Return on Capital 10.56% EBITDA/Interest Exp. -
Asset Turnover 0.16% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 246.1%
Net Income Margin 7.1% Total Debt/Capital 65.3%
Asset Turnover 0.16
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 14.09% Inventory Days -
Tot Debt to Common Equity 246.10% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Ping An Insurance Group Co of China LtdPrice/Volume
Valuation Analysis
7'555'743.00
Current Price (10/dd/yy) Market Data
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100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HSBC HOLDINGS PLC n/a Co File 1'233'926'425 39.43 - 31.12.2011 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 239'178'327 7.64 - 11.09.2012 Investment Advisor
JINJUN CO LTD n/a EXCH 76'000'000 2.43 (120'000'000) 24.08.2011 Corporation
VANGUARD GROUP INC Multiple Portfolios MF-AGG 73'084'040 2.34 1'148'105 30.09.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 63'730'000 2.04 (10'925'000) 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 47'133'500 1.51 72'000 12.10.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 30'429'632 0.97 (12'902'542) 29.02.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 29'958'000 0.96 (6'018'000) 30.06.2012 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 26'300'500 0.84 553'000 29.06.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 17'838'659 0.57 2'561'926 31.12.2011 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 17'564'800 0.56 2'640'500 30.06.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 16'688'355 0.53 8'685'194 31.03.2012 Mutual Fund Manager
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 12'391'527 0.4 (5'500) 12.10.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 9'744'202 0.31 2'097'000 31.03.2012 Investment Advisor
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 8'821'000 0.28 - 31.08.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 8'771'500 0.28 (1'458'000) 30.06.2012 Investment Advisor
JPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 8'451'000 0.27 2'403'000 30.04.2012 Investment Advisor
UBS STRATEGY FUND MG Multiple Portfolios MF-AGG 8'279'400 0.26 227'000 29.06.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 6'077'449 0.19 (3'387'500) 30.06.2012 Investment Advisor
RCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 5'970'500 0.19 4'500 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 64 Not Provided 16.10.2012
Credit Suisse ARJAN VAN VEEN outperform 5 M 73 Not Provided 15.10.2012
Jefferies BARON NIE hold 3 M 64 12 month 15.10.2012
Guotai Junan FELIX LUO accumulate 4 M 68 Not Provided 28.09.2012
Keefe, Bruyette & Woods STANLEY TSAI outperform 5 M 83 12 month 27.09.2012
Mizuho Securities THOMAS J MONACO buy 5 M 68 12 month 25.09.2012
Deutsche Bank ESTHER CHWEI hold 3 M 65 12 month 14.09.2012
BOCOM International Holdings LI WENBING buy 5 M 75 12 month 07.09.2012
Nomura DAVID CHUNG buy 5 M 97 Not Provided 05.09.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 05.09.2012
JPMorgan CHAN BAO LING overweight 5 M 65 3 month 03.09.2012
Core Pacific OLIVE XIA buy 5 M 71 12 month 27.08.2012
Morgan Stanley BEN LIN Overwt/In-Line 5 M 77 12 month 24.08.2012
HSBC JAMES GARNER neutral 3 M 71 Not Provided 24.08.2012
Macquarie SCOTT G RUSSELL neutral 3 M 67 12 month 24.08.2012
Bank of China International SUN PENG hold 3 M 66 Not Provided 24.08.2012
Kim Eng Securities IVAN LI buy 5 M 75 Not Provided 24.08.2012
SWS Research Co Ltd ROBERT HU neutral 3 M 62 Not Provided 24.08.2012
UOB Kay Hian EDMOND LAW buy 5 M 79 Not Provided 24.08.2012
CCB International Securities Ltd KENNETH YUE neutral 3 M 63 Not Provided 24.08.2012
Barclays MARK KELLOCK overweight 5 M 80 Not Provided 24.08.2012
BNP Paribas Equity Research DORRIS CHEN hold 3 M 67 12 month 21.08.2012
Capital Securities Corp TEAM COVERAGE buy 5 M 70 Not Provided 16.08.2012
ICBC International Securities PIUS CHENG hold 3 M 63 Not Provided 06.07.2012
Standard Chartered PETER O'BRIEN outperform 5 M 67 12 month 27.06.2012
DBS Vickers PING CHENG buy 5 M 73 12 month 25.06.2012
Goldman Sachs NING MA Buy/Neutral 5 M 78 12 month 29.05.2012
Phillip Securities CHEN XINGYU buy 5 M 80 Not Provided 02.03.2012
China International Capital Corp TANG SHENGBO buy 5 M 77 12 month 27.10.2011
Mirae Asset Securities IVAN CHEUNG hold 3 D 58 12 month 18.10.2011
RBS DESMOND CHEUNG hold 3 M 84 12 month 01.08.2011
China Merchants Securities LUO JINMING buy 5 M 60 Not Provided 12.02.2009
Holdings By:
Ping An Insurance Group Co of China Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
China Shenhua Energy Company Limited is an integrated coal-based energy company
focusing on the coal and power businesses in China. The Company also owns and
operates an integrated coal transportation network consisting of dedicated rail
lines and port facilities.
Latest Fiscal Year: 12/2011
LTM as of: 03/yy
52-Week High (28.10.2011) 38.00
52-Week Low (07.06.2012) 24.15
Daily Volume
31.45
52-Week High % Change -17.24% Dividend Yield 3.54
52-Week Low % Change 30.23% Beta 1.08
% 52 Week Price Range High/Low 51.26% Equity Float 3'388.20
Shares Out 30.06.2012 3'398.6 Short Int -
568'192.94 1 Yr Total Return 0.50%
Total Debt 60'466.00 YTD Return -2.93%
Preferred Stock 0.0 Adjusted BETA 1.083
Minority Interest 38'492.0 Analyst Recs 41
Cash and Equivalents 64'945.00 Consensus Rating 4.439
Enterprise Value 502'272.95
Average Volume 5 Day 13'226'910
1088 HK EQUITY YTD Change - Average Volume 30 Day 15'462'090
1088 HK EQUITY YTD % CHANGE - Average Volume 3 Month 14'414'870
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 03/yy 03/yy 12/12 Y 12/13 Y 06/12 Q2 09/12 Q3
80'275.0 104'416.0 117'526.0 157'662.0 208'197.0 165'161.0 215'786.0 234'328.4 256'222.1 59'011.0 69'563.0
15.67x 3.62x 6.12x 3.31x 2.62x 13.57x 7.76x 2.11x 1.87x - -
41'526.0 50'621.0 58'355.0 72'181.0 84'268.0 0.0 0.0 86'656.6 92'297.1 - -
30.29x 7.47x 12.32x 7.22x 6.46x 0.00x 0.00x 5.80x 5.44x - -
20'497.0 25'959.0 30'276.0 38'834.0 45'677.0 39'094.0 45'538.0 46'728.6 50'554.3 11'645.0 14'463.0
39.42x 11.07x 21.98x 14.16x 11.91x 15.70x 11.61x 10.84x 10.02x - -
EBITDA 84'268.00 Long-Term Rating Date -
EBIT 68'697.00 Long-Term Rating -
Operating Margin 33.00% Long-Term Outlook -
Pretax Margin 31.92% Short-Term Rating Date -
Return on Assets 11.81% Short-Term Rating -
Return on Common Equity 21.20%
Return on Capital 17.46% EBITDA/Interest Exp. 24.19
Asset Turnover 0.54% (EBITDA-Capex)/Interest Exp. 11.28
Net Debt/EBITDA -0.05
Gross Margin 38.5% Total Debt/EBITDA 0.72
EBITDA Margin 40.5%
EBIT Margin 33.0% Total Debt/Equity 26.8%
Net Income Margin 21.9% Total Debt/Capital 18.6%
Asset Turnover 0.54
Current Ratio 1.23 Net Fixed Asset Turnover 0.84
Quick Ratio 0.89 Accounts receivable turnover-days 21.73
Debt to Assets 15.08% Inventory Days 34.48
Tot Debt to Common Equity 26.78% Accounts Payable Turnover Day 61.14
Accounts Receivable Turnover 16.80 Cash Conversion Cycle -4.93
Inventory Turnover 10.59
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Shenhua Energy Co LtdPrice/Volume
Valuation Analysis
8'504'096.00
Current Price (10/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN CHASE & CO n/a EXCH 335'134'924 9.86 - 18.09.2012 Investment Advisor
BLACKROCK INC #N/A N/A EXCH 239'324'689 7.04 - 09.10.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 156'726'661 4.61 2'084'877 30.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 88'607'500 2.61 135'500 12.10.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 58'851'500 1.73 - 30.08.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 57'186'700 1.68 7'307'500 31.08.2012 Investment Advisor
BLACKROCK INC n/a Short (35'055'589) -1.03 - 09.10.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 29'883'642 0.88 (498'171) 31.12.2011 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 28'961'500 0.85 5'950'000 29.06.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 28'475'414 0.84 205'440 29.02.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 27'424'683 0.81 (41'000) 12.10.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 24'245'000 0.71 830'500 31.08.2012 Investment Advisor
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 24'236'025 0.71 4'404'000 29.06.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 20'782'953 0.61 12'285'962 31.08.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 19'201'036 0.56 5'858'500 15.10.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 17'395'130 0.51 (1'028'500) 31.03.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 15'777'345 0.46 126'845 31.03.2012 Mutual Fund Manager
UBS STRATEGY FUND MG Multiple Portfolios MF-AGG 15'360'500 0.45 866'500 29.06.2012 Investment Advisor
HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 13'919'500 0.41 1'992'000 31.12.2011 Investment Advisor
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 13'262'845 0.39 6'914'635 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura IVAN LEE neutral 3 M 30 Not Provided 16.10.2012
BOCOM International Holdings HE WEI neutral 3 M 31 Not Provided 16.10.2012
Barclays EPHREM RAVI overweight 5 M 39 Not Provided 16.10.2012
CIMB JEANNETTE SIM outperform 5 M 38 12 month 15.10.2012
Religare Capital Markets TRACY HUANG buy 5 M 36 12 month 11.10.2012
SinoPac ROBERT WEI buy 5 M 34 12 month 08.10.2012
Core Pacific KENNY CHEUNG buy 5 M 40 12 month 03.10.2012
Goldman Sachs JULIAN ZHU Buy/Neutral 5 M 38 12 month 24.09.2012
Sanford C. Bernstein & Co MICHAEL W PARKER underperform 1 M 21 12 month 21.09.2012
Jefferies LABAN YU underperform 1 D 24 12 month 19.09.2012
Macquarie MATTY ZHAO outperform 5 M 36 12 month 18.09.2012
Yuanta Securities Investment ConsultingJOHNNY WONG buy 5 M 37 Not Provided 17.09.2012
Credit Suisse TRINA CHEN outperform 5 M 38 Not Provided 12.09.2012
Standard Chartered CHEN YAN outperform 5 M 40 12 month 08.09.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 05.09.2012
UOB Kay Hian HELEN LAU buy 5 M 36 Not Provided 04.09.2012
Citic Securities Co., Ltd ZU GUOPENG buy 5 M 35 6 month 03.09.2012
Bank of China International LAWRENCE LAU hold 3 M 30 Not Provided 28.08.2012
Mizuho Securities KELVIN NG neutral 3 M 28 12 month 28.08.2012
HSBC SIMON FRANCIS overweight 5 M 34 Not Provided 27.08.2012
Capital Securities Corp TEAM COVERAGE buy 5 M 34 Not Provided 27.08.2012
DBS Vickers JUNE NG buy 5 M 36 12 month 27.08.2012
Morgan Stanley WEE KIAT TAN Overwt/In-Line 5 M 36 12 month 26.08.2012
JPMorgan DANIEL KANG overweight 5 M 35 9 month 26.08.2012
China International Capital Corp CAI HONGYU buy 5 M 36 12 month 24.08.2012
BNP Paribas Equity Research JAMES CLARKE buy 5 M 40 12 month 24.08.2012
KGI Securities FLANNERY HUEI-CHEN neutral 3 M 36 12 month 13.08.2012
ICBC International Securities ANNA YU buy 5 M 33 Not Provided 16.07.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 30 Not Provided 16.07.2012
Daiwa Securities Co. Ltd. FELIX LAM buy 5 M 35 Not Provided 05.07.2012
Deutsche Bank JAMES KAN buy 5 M 31 12 month 14.06.2012
Mirae Asset Securities SHIRLEY ZHAO buy 5 M 42 12 month 12.06.2012
Guotai Junan LEO WU accumulate 4 M 34 Not Provided 31.05.2012
GuoSen Securities Co Ltd DAVID LAM buy 5 M 38 12 month 14.05.2012
Masterlink Securities LI XIN buy 5 M 38 6 month 11.05.2012
Ji Asia SAMUEL THAWLEY buy 5 U 39 12 month 26.04.2012
SWS Research Co Ltd HUANG ZHE neutral 3 M 35 Not Provided 13.04.2012
Cinda Securities Ltd CASTOR PANG buy 5 N 35 Not Provided 07.07.2010
Celestial Securities Limited HENRY LI buy 5 N 45 12 month 17.03.2010
Holdings By:
China Shenhua Energy Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
LG Chem Ltd. is a chemical manufacturer. The Company's products include
petrochemicals, plastic resins, and engineering plastics. LG Chem also produces
industrial and electronic materials.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (09.02.2012) 434'000.00
52-Week Low (04.06.2012) 261'500.00
Daily Volume
316500
52-Week High % Change -27.07% Dividend Yield -
52-Week Low % Change 21.03% Beta 1.35
% 52 Week Price Range High/Low 30.43% Equity Float 39.16
Shares Out 30.09.2012 66.3 Short Int -
20'974'804.00 1 Yr Total Return -6.16%
Total Debt 1'483'109.00 YTD Return -0.31%
Preferred Stock 38'144.0 Adjusted BETA 1.352
Minority Interest 0.0 Analyst Recs 45
Cash and Equivalents 1'123'147.00 Consensus Rating 4.778
Enterprise Value 22'043'773.15
Average Volume 5 Day 276'144
051910 KS EQUITY YTD Change - Average Volume 30 Day 249'065
051910 KS EQUITY YTD % CHANGE - Average Volume 3 Month 298'659
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
8'899'578.0 12'645'000.0 13'694'516.0 16'850'454.0 19'809'874.0 ######### ######### - - - -
0.84x 0.49x 1.17x 1.54x 1.08x 6.14x 4.31x - - - -
1'086'841.0 1'728'420.0 2'390'188.0 3'019'236.0 3'095'214.0 ######### ######### - - - -
6.91x 3.61x 6.71x 8.60x 6.89x 0.00x 7.80x - - - -
686'205.0 1'002'585.0 1'384'472.0 1'970'993.0 2'028'321.0 ######### ######### - - - -
10.68x 6.26x 12.28x 14.59x 11.51x 17.21x 13.64x 12.05x 9.65x - -
EBITDA 3'095'214.00 Long-Term Rating Date 24.11.2010
EBIT 2'520'387.00 Long-Term Rating A-
Operating Margin 12.72% Long-Term Outlook STABLE
Pretax Margin 13.07% Short-Term Rating Date -
Return on Assets 16.60% Short-Term Rating -
Return on Common Equity 24.33%
Return on Capital 21.24% EBITDA/Interest Exp. 71.00
Asset Turnover 1.62% (EBITDA-Capex)/Interest Exp. 27.93
Net Debt/EBITDA 0.12
Gross Margin 18.3% Total Debt/EBITDA 0.48
EBITDA Margin 15.6%
EBIT Margin 12.7% Total Debt/Equity 16.4%
Net Income Margin 10.2% Total Debt/Capital 14.0%
Asset Turnover 1.62
Current Ratio 1.59 Net Fixed Asset Turnover 3.67
Quick Ratio 0.99 Accounts receivable turnover-days 44.75
Debt to Assets 11.05% Inventory Days 42.29
Tot Debt to Common Equity 16.36% Accounts Payable Turnover Day 24.36
Accounts Receivable Turnover 8.16 Cash Conversion Cycle 62.68
Inventory Turnover 8.63
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
LG Chem LtdPrice/Volume
Valuation Analysis
243'509.00
Current Price (10/dd/yy) Market Data
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10'000'000.0
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20'000'000.0
25'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
LG CORP n/a Co File 22'219'326 33.53 - 31.12.2011 Holding Company
NATIONAL PENSION SER n/a Co File 4'508'785 6.8 - 31.12.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'895'519 2.86 25'525 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 783'494 1.18 (60) 12.10.2012 Investment Advisor
SAMSUNG INVESTMENT T Multiple Portfolios MF-AGG 628'841 0.95 (1'199) 29.06.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 598'889 0.9 (130'067) 31.03.2012 Investment Advisor
IVY MANAGEMENT INCOR Multiple Portfolios MF-AGG 436'910 0.66 (175'000) 30.06.2012 Investment Advisor
LG CHEM LTD n/a EXCH 359'784 0.54 - 21.05.2012 Corporation
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 358'561 0.54 2'776 30.06.2012 Investment Advisor
UBS HANA ASSET MANAG Multiple Portfolios MF-AGG 317'270 0.48 12'692 31.03.2012 Mutual Fund Manager
KB ASSET MANAGEMENT Multiple Portfolios MF-AGG 281'861 0.43 (74'821) 29.06.2012 Mutual Fund Manager
MIRAE ASSET GLOBAL I Multiple Portfolios MF-AGG 277'442 0.42 (264'898) 31.03.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 261'028 0.39 6'592 12.10.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 257'879 0.39 (201'083) 31.03.2012 Mutual Fund Manager
INVESCO LTD Multiple Portfolios MF-AGG 242'481 0.37 (68'980) 15.10.2012 Investment Advisor
KOREA INVESTMENT TRU Multiple Portfolios MF-AGG 231'469 0.35 (65'033) 31.03.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 194'183 0.29 69'564 31.08.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 143'192 0.22 (1'782) 31.03.2012 Investment Advisor
JPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 132'667 0.2 (223'643) 30.04.2012 Investment Advisor
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 116'939 0.18 (30'734) 29.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Hanwha Securities Co., Ltd LEE DA-SOL buy 5 M 400'000 6 month 16.10.2012
KB Investment & Securities Co., Ltd PARK JAE-CHUL buy 5 M 370'000 12 month 16.10.2012
Standard Chartered DANIEL DO YEON LEE in-line 3 M 360'000 12 month 12.10.2012
Eugene Investment & Securities Co., LtdKWAK JIN-HEE buy 5 M 360'000 12 month 12.10.2012
Woori Investment & Securities KIM SUN-WOO buy 5 M 350'000 12 month 12.10.2012
Deutsche Bank SHAWN PARK buy 5 M 370'000 12 month 11.10.2012
Kyobo Securities YOUNG-JOO SON buy 5 M 367'000 6 month 10.10.2012
Barclays KAY CHUNG overweight 5 M 421'000 Not Provided 10.10.2012
NH Investment & Securities CHOI JI-HWAN buy 5 M 380'000 6 month 09.10.2012
Hyundai Securities BAEK YOUNG-CHAN buy 5 M 400'000 12 month 08.10.2012
SK Securities Co Ltd SOHN JI-WOO buy 5 M 410'000 6 month 08.10.2012
Tong Yang Investment Bank HWANG KYU-WON buy 5 M 440'000 12 month 08.10.2012
E*Trade Securities Korea WON YONG-JIN buy 5 M 440'000 12 month 05.10.2012
Dongbu Securities Co Ltd KIM TAE-HEE buy 5 M 420'000 12 month 04.10.2012
HSBC BRIAN SOHN overweight 5 M 410'000 Not Provided 02.10.2012
Nomura CINDY PARK buy 5 M 410'000 Not Provided 02.10.2012
KTB Securities YOO YOUNG KOOK buy 5 M 360'000 12 month 30.09.2012
Samsung Securities SEUNGWOO KIM buy 5 M 360'000 12 month 26.09.2012
JPMorgan SAMUEL SW LEE neutral 3 M 350'000 15 month 26.09.2012
BNP Paribas Equity Research POR YONG LIANG buy 5 M 380'000 12 month 25.09.2012
LIG Investment Securities PARK YOUNG-HOON buy 5 M 395'000 12 month 25.09.2012
KIWOOM Securities Co Ltd HONG JEONG-MO buy 5 M 410'000 6 month 19.09.2012
Daishin Securities Co., Ltd. AHN SANG-HEE buy 5 M 400'000 12 month 17.09.2012
Korea Investment & Securities PARK KIYONG buy 5 M 370'000 12 month 14.09.2012
HI Investment Securities LEE HEE-CHEOL buy 5 M 400'000 6 month 11.09.2012
Mirae Asset Securities YOUNG BAE KWON hold 3 M 335'000 12 month 30.08.2012
Credit Suisse CHO A-HYUNG outperform 5 M 465'000 Not Provided 21.08.2012
Shinhan Investment Corp YI EUNG-JU buy 5 M 385'000 12 month 20.08.2012
EVA Dimensions TEAM COVERAGE hold 3 U #N/A N/A Not Provided 20.08.2012
Bookook Securities Co Ltd CHOI SANG-DO buy 5 M 390'000 6 month 20.07.2012
Daewoo Securities PARK YEON-JU buy 5 M 340'000 12 month 19.07.2012
Macquarie BRANDON I LEE outperform 5 M 400'000 12 month 19.07.2012
IBK Securities Co Ltd CHOONG-JAE LEE buy 5 M 350'000 12 month 19.07.2012
Morgan Stanley HARRISON H HWANG Overwt/Attractive 5 M 410'000 12 month 18.07.2012
Goldman Sachs ROSA KIM neutral/cautious 3 M 340'000 12 month 18.07.2012
Daiwa Securities Co. Ltd. JIHYE CHOI buy 5 M 380'000 Not Provided 18.07.2012
Meritz Securities Co., Ltd HWANG YOU SIK buy 5 M 400'000 6 month 02.07.2012
YuHwa Securities Ltd PARK GUN-TAE buy 5 M 350'000 6 month 02.07.2012
BS Securities Co Ltd #N/A N/A buy 5 N 300'000 Not Provided 11.06.2012
Hana Daetoo Securities LEE JEONG HEON buy 5 M 360'000 12 month 08.06.2012
Shinyoung Securities Co., Ltd. OH JUNG-IL buy 5 M 400'000 12 month 07.06.2012
Holdings By:
LG Chem Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
AngloGold Ashanti Limited is a holding company for a group of companies which
explore for and mine gold internationally. The Group has operations in the Vaal
River and West Witwatersrand areas of South Africa as well as Namibia, Mali,
Brazil, Argentina, Australia, Tanzania and the United States.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (01.12.2011) 39'182.00
52-Week Low (19.07.2012) 25'199.00
Daily Volume
30087
52-Week High % Change -23.23% Dividend Yield 1.88
52-Week Low % Change 19.40% Beta 0.75
% 52 Week Price Range High/Low 33.26% Equity Float 341.55
Shares Out 12.10.2012 383.1 Short Int -
116'025.97 1 Yr Total Return -6.95%
Total Debt 20'006.00 YTD Return -11.21%
Preferred Stock 0.0 Adjusted BETA 0.746
Minority Interest 1'106.0 Analyst Recs 16
Cash and Equivalents 8'944.00 Consensus Rating 4.000
Enterprise Value 129'311.58
Average Volume 5 Day 973'845
ANG SJ EQUITY YTD Change - Average Volume 30 Day 1'397'363
ANG SJ EQUITY YTD % CHANGE - Average Volume 3 Month 1'326'205
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
21'101.0 29'774.0 30'745.0 38'833.0 47'849.0 41'620.1 53'625.3 58'833.4 71'817.5 14'784.0 15'719.0
4.37x 3.48x 3.88x 3.60x 3.00x 12.73x 9.82x 2.28x 1.77x 8.91x 8.48x
718.0 3'311.0 (2'435.0) 9'720.0 20'443.0 15'015.0 23'135.2 25'792.5 34'354.9 6'238.0 7'492.0
128.52x 31.32x 0.00x 14.37x 7.03x 8.12x 4.93x 5.01x 3.76x 4.28x 3.95x
(4'269.0) (16'105.0) (2'762.0) 637.0 11'282.0 5'729.0 13'128.1 12'768.8 17'845.9 2'765.0 3'448.0
0.00x 0.00x 0.00x 126.22x 12.38x 18.36x 8.08x 9.68x 6.91x 8.27x 7.28x
EBITDA 20'443.00 Long-Term Rating Date 09.04.2010
EBIT 14'844.00 Long-Term Rating BBB-
Operating Margin 31.02% Long-Term Outlook STABLE
Pretax Margin 35.45% Short-Term Rating Date -
Return on Assets 15.09% Short-Term Rating -
Return on Common Equity 33.86%
Return on Capital 23.69% EBITDA/Interest Exp. 14.43
Asset Turnover 0.64% (EBITDA-Capex)/Interest Exp. 7.20
Net Debt/EBITDA 0.54
Gross Margin 39.9% Total Debt/EBITDA 0.98
EBITDA Margin 42.7%
EBIT Margin 31.0% Total Debt/Equity 49.5%
Net Income Margin 23.6% Total Debt/Capital 32.5%
Asset Turnover 0.64
Current Ratio 2.76 Net Fixed Asset Turnover 1.03
Quick Ratio 1.56 Accounts receivable turnover-days 12.08
Debt to Assets 23.03% Inventory Days 91.42
Tot Debt to Common Equity 49.48% Accounts Payable Turnover Day 50.41
Accounts Receivable Turnover 30.22 Cash Conversion Cycle 53.09
Inventory Turnover 3.99
Fiscal Year Ended
AngloGold Ashanti LtdPrice/Volume
Valuation Analysis
406'779.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
STATE STREET BANK & #N/A N/A SJ-REG 26'704'937 6.97 - 28.09.2012 Investment Advisor
GOVERNMENT EMP PENSI #N/A N/A SJ-REG 17'379'658 4.54 - 28.09.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 15'773'875 4.12 387'175 30.09.2012 Investment Advisor
JP MORGAN CHASE BANK #N/A N/A SJ-REG 9'755'459 2.55 - 28.09.2012 Investment Advisor
NORTHERN TR AVFC GOV n/a SJ-REG 8'778'827 2.29 - 28.09.2012 n/a
ALLAN GRAY UNIT TRUS Multiple Portfolios MF-AGG 8'385'132 2.19 (13'900) 29.06.2012 Investment Advisor
JP MORGAN CHASE BANK #N/A N/A SJ-REG 5'725'346 1.49 - 28.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 4'690'071 1.22 64 12.10.2012 Investment Advisor
NEDCOR BANK MGMT CO Multiple Portfolios MF-AGG 4'141'000 1.08 132'492 30.06.2012 Investment Advisor
OLD MUTUAL LIFE ASSU #N/A N/A SJ-REG 3'896'976 1.02 - 28.09.2012 Insurance Company
LIBERTY LIFE ASSURAN #N/A N/A SJ-REG 3'663'915 0.96 - 28.09.2012 Insurance Company
CITIBANK LONDON #N/A N/A SJ-REG 3'231'423 0.84 - 28.09.2012 Bank
COMGEST GROWTH PLC Multiple Portfolios MF-AGG 2'800'000 0.73 - 30.06.2011 Investment Advisor
OLD MUTUAL ASSET MAN Multiple Portfolios MF-AGG 2'563'472 0.67 (204'094) 31.03.2012 Investment Advisor
BANK OF NEW YORK #N/A N/A SJ-REG 2'529'443 0.66 - 28.09.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 2'518'074 0.66 134'128 30.06.2012 Investment Advisor
INVESTEC FUND GROUP Multiple Portfolios MF-AGG 2'387'232 0.62 30'356 31.07.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 2'227'945 0.58 2'100 12.10.2012 Investment Advisor
MELLON BANK NA #N/A N/A SJ-REG 2'223'414 0.58 - 28.09.2012 Investment Advisor
HSBC BANK PLC #N/A N/A SJ-REG 2'195'571 0.57 - 28.09.2012 Bank
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs EUGENE KING neutral/attractive 3 M 39'000 12 month 15.10.2012
Credit Suisse SAMANTHA HARTARD outperform 5 M 38'900 Not Provided 12.10.2012
Imara PERCY TAKUNDA buy 5 M #N/A N/A Not Provided 12.10.2012
HSBC PATRICK CHIDLEY overweight 5 M 48'300 Not Provided 09.10.2012
Renaissance Capital DERRYN MAADE buy 5 M 34'420 Not Provided 08.10.2012
CIBC World Markets ARNOLD VAN GRAAN sector outperform 5 M 50'000 Not Provided 05.10.2012
Morgan Stanley CHRISTOPHER NICHOLSON Overwt/Attractive 5 M 35'000 12 month 03.10.2012
Deutsche Bank ANNA MULHOLLAND hold 3 M 34'000 12 month 02.10.2012
SBG Securities DAVID R DAVIS buy 5 M 37'800 12 month 02.10.2012
Barclays ANDREW BYRNE overweight 5 N 34'000 Not Provided 17.09.2012
JPMorgan ALLAN COOKE underweight 1 M 27'700 12 month 06.09.2012
EVA Dimensions TEAM COVERAGE hold 3 D #N/A N/A Not Provided 05.09.2012
BMO Capital Markets DAVID HAUGHTON market perform 3 M 33'500 Not Provided 07.08.2012
Holdings By:
AngloGold Ashanti Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
KB Financial Group Inc. (the "Company"), in accordance with Financial Holding
Companies Act, was established on September 29, 2008, through stock transfer
with the former shareholders of its subsidiaries including Kookmin Bank in
order to provide management services and financing to associated companies.
The headquarters are located at Seoul, Korea
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (27.10.2011) 41.62
52-Week Low (23.07.2012) 28.36
Daily Volume
34.26
52-Week High % Change -17.68% Dividend Yield -
52-Week Low % Change 20.80% Beta 1.25
% 52 Week Price Range High/Low 44.49% Equity Float -
Shares Out 30.09.2012 386.4 Short Int 0.25
13'236.41 1 Yr Total Return -9.51%
Total Debt 179'988.00 YTD Return 9.32%
Preferred Stock 0.0 Adjusted BETA 1.253
Minority Interest - Analyst Recs 2
Cash and Equivalents - Consensus Rating 4.000
Enterprise Value -
Average Volume 5 Day 119'218
KB US EQUITY YTD Change - Average Volume 30 Day 127'231
KB US EQUITY YTD % CHANGE - Average Volume 3 Month 139'368
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
0.0 635'268.0 696'562.0 131'459.0 26'999.0 31'682.0 703'368.0 - - - -
0.00x 20.05x 34.26x 0.00x 0.00x 1974.48x 22.95x - - - -
0.0 616'576.0 599'907.0 95'109.0 (19'210.0) (12'623.0) 659'641.0 - - - -
0.00x 20.66x 39.78x 0.00x 0.00x 0.00x 0.00x - - - -
0.0 611'927.0 539'818.0 41'575.0 (63'678.0) (62'983.0) 635'162.0 - - - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x - - - -
EBITDA -19'210.00 Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin -241.58% Short-Term Rating Date -
Return on Assets -0.34% Short-Term Rating -
Return on Common Equity -0.36%
Return on Capital -0.35% EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -9.37
EBITDA Margin -71.2%
EBIT Margin - Total Debt/Equity 1.0%
Net Income Margin -235.9% Total Debt/Capital 1.0%
Asset Turnover 0.00
Current Ratio - Net Fixed Asset Turnover 28.91
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 0.97% Inventory Days -
Tot Debt to Common Equity 1.02% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
KB Financial Group IncPrice/Volume
Valuation Analysis
84'292.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
700'000.0
800'000.0
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 5'672'448 1.47 72'819 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I TEMPLETON INVESTMENT 13F 5'121'275 1.33 123'080 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 5'000'338 1.29 162'138 30.06.2012 Investment Advisor
DELAWARE MANAGEMENT DELAWARE MANAGEMENT 13F 2'624'756 0.68 (344'398) 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I TEMPLETON GLOBAL ADV 13F 2'503'259 0.65 66'770 30.06.2012 Investment Advisor
WELLS CAPITAL MANAGE WELLS CAPITAL MANAGE 13F 1'544'924 0.4 (19'400) 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 1'426'359 0.37 1'470 30.06.2012 Investment Advisor
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 1'194'141 0.31 - 30.06.2012 Investment Advisor
ALLIANCEBERNSTEIN LP ALLIANCEBERNSTEIN LP 13F 1'002'132 0.26 (81'428) 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 968'195 0.25 30'074 30.06.2012 Investment Advisor
TRILOGY GLOBAL ADVIS TRILOGY GLOBAL ADVIS 13F 881'952 0.23 61'353 30.06.2012 Hedge Fund Manager
FRANK RUSSELL TRUST FRANK RUSSELL COMPAN 13F 710'197 0.18 1'500 30.06.2012 Investment Advisor
MONTGOMERY ASSET MAN Multiple Portfolios MF-AGG 593'117 0.15 - 31.08.2012 Investment Advisor
JOHN HANCOCK ADVISER Multiple Portfolios MF-AGG 578'968 0.15 - 30.04.2011 Investment Advisor
NEWGATE CAPITAL MANA NEWGATE CAPITAL MANA 13F 575'791 0.15 (47'228) 30.06.2012 Investment Advisor
NORDEA INV MANAGEMEN NORDEA INVESTMENT MA 13F 408'689 0.11 8'059 30.06.2012 Investment Advisor
SANFORD C BERNSTEIN Multiple Portfolios MF-AGG 365'680 0.09 31'560 31.08.2012 Investment Advisor
NEW YORK STATE COMMO NEW YORK STATE COMMO 13F 350'471 0.09 (8'830) 30.06.2012 Pension Fund (ERISA)
LORD ABBETT & CO LLC LORD ABBETT & CO LLC 13F 337'381 0.09 97'245 30.06.2012 Investment Advisor
HARDING LOEVNER LP HARDING LOEVNER LP 13F 333'596 0.09 3'600 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TEAM COVERAGE hold 3 M #N/A N/A Not Provided 18.11.2011
Holdings By:
KB Financial Group Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
MediaTek Inc. is a fabless semiconductor company for wireless communications
and digital multimedia solutions. The company provides SOC system solutions for
wireless communications, high-definition TV, optical storage, DVD and Blu-ray
products.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (24.10.2011) 345.00
52-Week Low (30.04.2012) 235.00
Daily Volume
317.5
52-Week High % Change -7.97% Dividend Yield -
52-Week Low % Change 35.11% Beta 1.09
% 52 Week Price Range High/Low 72.73% Equity Float 1'193.64
Shares Out 04.10.2012 1'349.4 Short Int 46.73
428'422.53 1 Yr Total Return -2.16%
Total Debt 0.00 YTD Return 18.64%
Preferred Stock 0.0 Adjusted BETA 1.087
Minority Interest 0.0 Analyst Recs 24
Cash and Equivalents 30'158.31 Consensus Rating 4.042
Enterprise Value 398'002.37
Average Volume 5 Day 10'665'450
2454 TT EQUITY YTD Change - Average Volume 30 Day 11'523'080
2454 TT EQUITY YTD % CHANGE - Average Volume 3 Month 12'149'650
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
74'778.6 68'015.5 77'310.8 71'988.4 53'842.4 57'529.1 54'862.4 - - - -
5.21x 2.89x 7.04x 5.70x 5.31x 25.42x 21.94x - - - -
33'203.4 19'806.1 23'857.8 19'364.5 6'633.9 10'676.3 5'696.0 - - - -
11.72x 9.91x 22.81x 21.20x 43.13x 27.47x 49.29x - - - -
33'592.7 19'190.0 36'705.6 30'961.4 13'623.1 17'433.2 12'844.9 15'552.0 24'935.9 4'699.7 4'857.8
12.92x 12.24x 16.35x 14.68x 22.47x 19.51x 23.74x 24.44x 17.03x 20.38x 18.62x
EBITDA 6'633.87 Long-Term Rating Date -
EBIT 4'927.54 Long-Term Rating -
Operating Margin 9.15% Long-Term Outlook -
Pretax Margin 25.92% Short-Term Rating Date -
Return on Assets 9.99% Short-Term Rating -
Return on Common Equity 11.95%
Return on Capital 11.95% EBITDA/Interest Exp. 1466.37
Asset Turnover 0.39% (EBITDA-Capex)/Interest Exp. 1365.92
Net Debt/EBITDA -4.55
Gross Margin 41.0% Total Debt/EBITDA 0.00
EBITDA Margin 12.3%
EBIT Margin 9.2% Total Debt/Equity 0.0%
Net Income Margin 25.3% Total Debt/Capital 0.0%
Asset Turnover 0.39
Current Ratio 2.05 Net Fixed Asset Turnover 8.13
Quick Ratio 1.61 Accounts receivable turnover-days 24.67
Debt to Assets 0.00% Inventory Days 73.07
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 75.85
Accounts Receivable Turnover 14.80 Cash Conversion Cycle 21.88
Inventory Turnover 5.00
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
MediaTek IncPrice/Volume
Valuation Analysis
9'934'997.00
Current Price (10/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 54'321'904 4.03 (11'309'319) 30.06.2012 Investment Advisor
LI TSUI-HSIN n/a Co File 48'674'145 3.61 - 16.07.2011 n/a
MING-CHIEH TSAI n/a EXCH 41'006'187 3.04 133'025 31.08.2012 n/a
CAPITAL WORLD GROWTH n/a Co File 40'600'426 3.01 - 16.07.2011 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 39'467'951 2.92 (535'000) 30.09.2012 Investment Advisor
CAPITAL INC FOUNDA F n/a Co File 31'425'774 2.33 - 16.07.2011 n/a
JYH-JER CHO n/a EXCH 30'325'222 2.25 43'775 31.08.2012 n/a
US GROWTH FUND n/a Co File 22'709'996 1.68 - 16.07.2011 n/a
LIU TING-JEN n/a Co File 21'011'763 1.56 - 16.07.2011 n/a
REICHARDT FUND n/a Co File 20'276'421 1.5 - 16.07.2011 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 19'507'920 1.45 - 12.10.2012 Investment Advisor
EURO PACIFIC GROWTH n/a Co File 15'402'625 1.14 - 16.07.2011 n/a
VANGUARD EMS INDEX F n/a Co File 15'159'975 1.12 - 16.07.2011 n/a
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 14'044'133 1.04 40'000 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 12'829'109 0.95 (273'000) 31.08.2012 Investment Advisor
POLARIS SEC INVESTME Multiple Portfolios MF-AGG 10'925'000 0.81 (1'033'000) 30.06.2012 Mutual Fund Manager
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 9'297'721 0.69 4'770'720 31.08.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 8'130'000 0.6 6'331'000 30.06.2012 Investment Advisor
HSIANG FA INVESTMENT n/a EXCH 7'794'085 0.58 - 31.08.2012 n/a
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 5'802'062 0.43 (2'407'000) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie JEFFREY SU underperform 1 M 245 12 month 15.10.2012
Barclays ANDREW LU overweight 5 M 395 Not Provided 15.10.2012
RBS JACK LU buy 5 M 380 12 month 11.10.2012
Morgan Stanley BILL LU Overwt/In-Line 5 M 400 12 month 11.10.2012
Nomura AARON JENG buy 5 M 385 Not Provided 11.10.2012
Wedge Partners JUN ZHANG no rating system #N/A N/A M #N/A N/A Not Provided 09.10.2012
HSBC YOLANDA WANG overweight 5 M 382 Not Provided 08.10.2012
Credit Suisse RANDY ABRAMS restricted #N/A N/A M #N/A N/A Not Provided 05.10.2012
JPMorgan ALVIN KWOCK not rated #N/A N/A M #N/A N/A Not Provided 05.10.2012
Capital Securities Corp TEAM COVERAGE buy 5 M 409 Not Provided 05.10.2012
KGI Securities MICHAEL LIU outperform 5 M 380 12 month 05.10.2012
Fubon Securities WILLIAM WANG add 4 M 330 6 month 01.10.2012
Daiwa Securities Co. Ltd. ERIC CHEN buy 5 M 400 Not Provided 01.10.2012
BNP Paribas Equity Research LAURA CHEN buy 5 M 370 12 month 27.09.2012
Jih Sun Securities WENWEN WANG neutral 3 D #N/A N/A Not Provided 20.09.2012
E Sun Securities YANG SHENG-MIN buy 5 M #N/A N/A Not Provided 14.09.2012
SinoPac STEFAN CHANG neutral 3 M 310 Not Provided 06.09.2012
Deutsche Bank JESSICA CHANG buy 5 M 435 12 month 05.09.2012
Yuanta Securities Investment ConsultingGEORGE CHANG buy 5 M 355 Not Provided 04.09.2012
Berenberg Bank ADNAAN AHMAD sell 1 M 210 Not Provided 04.09.2012
Sanford C. Bernstein & Co MARK LI market perform 3 U 320 12 month 03.09.2012
EVA Dimensions TEAM COVERAGE underweight 1 D #N/A N/A Not Provided 24.08.2012
Masterlink Securities CHELSEY SU buy 5 M 329 12 month 06.08.2012
President Capital Management VICKIE HSIEH buy 5 U 293 6 month 01.08.2012
Goldman Sachs DONALD LU not rated #N/A N/A M #N/A N/A Not Provided 27.06.2012
Mega Securities HU MING-YAO neutral 3 M 300 6 month 01.08.2011
Concord Securities Corp AARON HSIEH equalweight 3 M #N/A N/A Not Provided 30.07.2010
IBT Securities Co Ltd JARED WANG buy 5 M #N/A N/A Not Provided 19.03.2010
Holdings By:
MediaTek Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Chunghwa Telecom Co., Ltd. provides local, domestic, and international long
distance services. The Company also offers wireless telecommunication, paging,
and Internet services.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (17.11.2011) 34.31
52-Week Low (27.07.2012) 29.22
Daily Volume
31.37
52-Week High % Change -8.57% Dividend Yield -
52-Week Low % Change 7.35% Beta 0.52
% 52 Week Price Range High/Low 42.23% Equity Float -
Shares Out 30.06.2012 775.7 Short Int 4.58
24'335.11 1 Yr Total Return 1.48%
Total Debt 0.00 YTD Return 0.01%
Preferred Stock 0.0 Adjusted BETA 0.523
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 64'459.15 Consensus Rating 3.000
Enterprise Value -
Average Volume 5 Day 272'663
CHT US EQUITY YTD Change - Average Volume 30 Day 231'378
CHT US EQUITY YTD % CHANGE - Average Volume 3 Month 186'356
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
186'329.0 186'780.7 184'040.3 186'410.9 192'462.1 190'167.4 191'291.8 - - - -
2.88x 2.28x 2.67x 3.38x 3.70x 13.51x 14.35x - - - -
100'550.0 95'133.8 91'113.9 89'400.1 83'154.6 86'642.8 79'916.1 - - - -
5.34x 4.49x 5.39x 7.06x 8.55x 7.93x 8.19x - - - -
48'249.3 45'010.3 43'757.4 47'608.9 47'068.4 47'748.7 42'698.0 40'354.0 42'201.6 - -
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 17.60x 16.84x - -
EBITDA 83'154.56 Long-Term Rating Date 10.04.2008
EBIT 51'240.50 Long-Term Rating AA
Operating Margin 26.62% Long-Term Outlook NEG
Pretax Margin 28.77% Short-Term Rating Date -
Return on Assets 10.73% Short-Term Rating -
Return on Common Equity 12.84%
Return on Capital 12.84% EBITDA/Interest Exp. 374570.08
Asset Turnover 0.44% (EBITDA-Capex)/Interest Exp. 255270.67
Net Debt/EBITDA -0.78
Gross Margin 44.5% Total Debt/EBITDA 0.00
EBITDA Margin 43.2%
EBIT Margin 26.6% Total Debt/Equity 0.0%
Net Income Margin 24.5% Total Debt/Capital 0.0%
Asset Turnover 0.44
Current Ratio 1.71 Net Fixed Asset Turnover 0.64
Quick Ratio 1.56 Accounts receivable turnover-days 31.74
Debt to Assets 0.00% Inventory Days 4.39
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 34.35
Accounts Receivable Turnover 11.50 Cash Conversion Cycle 1.78
Inventory Turnover 83.12
Fiscal Year Ended
Chunghwa Telecom Co LtdPrice/Volume
Valuation Analysis
170'710.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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100'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC VANGUARD GROUP INC 13F 5'973'563 0.77 216'710 30.06.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 4'122'488 0.53 (276'711) 30.06.2012 Investment Advisor
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 3'430'235 0.44 56'126 30.06.2012 Investment Advisor
MATTHEWS INTERNATION MATTHEWS INTERNATION 13F 2'587'669 0.33 38'700 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 2'194'873 0.28 (32'575) 30.06.2012 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 2'077'475 0.27 44'547 30.06.2012 Investment Advisor
STEADFAST CAPITAL MG STEADFAST CAPITAL MG 13F 1'008'200 0.13 1'008'200 30.06.2012 Hedge Fund Manager
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 930'545 0.12 29'300 30.06.2012 Investment Advisor
WELLS CAPITAL MANAGE WELLS CAPITAL MANAGE 13F 870'054 0.11 900 30.06.2012 Investment Advisor
DWS INVESTMENT SA Multiple Portfolios MF-AGG 812'508 0.1 (33'394) 31.08.2012 Mutual Fund Manager
CANADA PENSION PLAN CANADA PENSION PLAN 13F 810'426 0.1 158'000 30.06.2012 Pension Fund (ERISA)
SATURNA CAPITAL CORP SATURNA CAPITAL CORP 13F 569'706 0.07 - 30.06.2012 Investment Advisor
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 441'721 0.06 90'610 30.06.2012 Investment Advisor
HSBC HOLDINGS PLC HSBC HOLDINGS PLC 13F 388'726 0.05 (15'776) 30.06.2012 Investment Advisor
BLACKROCK INC BLACKROCK INC 13F 343'151 0.04 (6'049) 30.06.2012 Investment Advisor
UBS GLOBAL ASSET MAN UBS GLOBAL ASSET MAN 13F 340'556 0.04 - 30.06.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 299'146 0.04 (814'500) 30.06.2012 Hedge Fund Manager
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 279'429 0.04 (160'854) 30.06.2012 Investment Advisor
CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 276'178 0.04 (29'611) 30.06.2012 Investment Advisor
MONTGOMERY ASSET MAN Multiple Portfolios MF-AGG 273'834 0.04 - 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Goldman Sachs PIYUSH MUBAYI neutral/neutral 3 M 28 12 month 30.03.2011
Holdings By:
Chunghwa Telecom Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Grupo Televisa S.A.B., operates media and entertainment businesses in the
Spanish speaking world. The Company has interests in television production and
broadcasting, programming, direct-to-home satellite services, publishing and
publishing distribution, cable television, radio production, show business,
feature films and Internet portals.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (14.09.2012) 24.88
52-Week Low (25.11.2011) 18.60
Daily Volume
23.68
52-Week High % Change -4.82% Dividend Yield -
52-Week Low % Change 27.31% Beta 1.09
% 52 Week Price Range High/Low 80.89% Equity Float -
Shares Out 04.09.2012 571.2 Short Int 2.08
13'526.49 1 Yr Total Return 18.02%
Total Debt 57'410.74 YTD Return 13.14%
Preferred Stock 0.0 Adjusted BETA 1.091
Minority Interest 7'196.7 Analyst Recs 16
Cash and Equivalents 21'698.49 Consensus Rating 3.500
Enterprise Value -
Average Volume 5 Day 1'474'097
TV US EQUITY YTD Change - Average Volume 30 Day 1'393'118
TV US EQUITY YTD % CHANGE - Average Volume 3 Month 1'415'022
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
41'561.5 47'972.3 52'352.5 57'856.8 62'581.5 44'461.7 66'396.6 67'982.9 73'649.5 17'271.3 18'959.6
3.11x 2.08x 2.75x 3.48x 3.79x 12.10x 12.56x 3.11x 2.80x 12.63x -
17'683.1 19'438.9 20'086.5 22'161.9 24'251.8 16'738.5 26'056.3 26'323.7 28'381.3 7'127.6 7'910.7
7.30x 5.12x 7.16x 9.09x 9.78x 0.00x 7.87x - - - -
8'082.5 7'803.7 6'007.1 7'683.4 6'889.6 5'600.1 7'117.5 8'093.5 10'280.2 2'545.7 3'109.1
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 24.25x 20.26x 21.17x 28.42x
EBITDA 24'251.77 Long-Term Rating Date 02.10.2007
EBIT 16'822.05 Long-Term Rating BBB+
Operating Margin 26.88% Long-Term Outlook STABLE
Pretax Margin 18.52% Short-Term Rating Date -
Return on Assets 4.73% Short-Term Rating -
Return on Common Equity 14.25%
Return on Capital 10.36% EBITDA/Interest Exp. 5.62
Asset Turnover 0.43% (EBITDA-Capex)/Interest Exp. 3.38
Net Debt/EBITDA 1.47
Gross Margin 55.0% Total Debt/EBITDA 2.37
EBITDA Margin 38.8%
EBIT Margin 26.9% Total Debt/Equity 111.1%
Net Income Margin 11.0% Total Debt/Capital 49.4%
Asset Turnover 0.43
Current Ratio 1.41 Net Fixed Asset Turnover 1.56
Quick Ratio 1.14 Accounts receivable turnover-days 107.74
Debt to Assets 37.02% Inventory Days 17.09
Tot Debt to Common Equity 111.13% Accounts Payable Turnover Day 97.78
Accounts Receivable Turnover 3.39 Cash Conversion Cycle 27.06
Inventory Turnover 21.35
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Grupo Televisa SABPrice/Volume
Valuation Analysis
2'208'600.00
Current Price (10/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CASCADE INVESTMENT L n/a 13D 29'156'500 5.1 2'368'100 19.03.2010 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 27'723'091 4.85 151'321 30.06.2012 Hedge Fund Manager
DODGE & COX DODGE & COX 13F 23'746'292 4.16 (3'117'500) 30.06.2012 Investment Advisor
GATES FOUNDATION BILL & MELINDA FOUND 13F 16'879'103 2.95 - 30.06.2012 Endowment
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 16'611'263 2.91 224'804 30.06.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 16'588'801 2.9 (4'610'014) 30.06.2012 Investment Advisor
COMMONWEALTH BANK OF COMMONWEALTH BANK OF 13F 12'434'216 2.18 152'784 30.06.2012 Bank
INVESCO LTD INVESCO LTD 13F 11'989'826 2.1 3'440'800 30.06.2012 Investment Advisor
WELLS CAPITAL MANAGE WELLS CAPITAL MANAGE 13F 9'305'670 1.63 278'300 30.06.2012 Investment Advisor
WESTWOOD GLOBAL INVE WESTWOOD GLOBAL INVE 13F 7'764'444 1.36 190'657 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 7'506'565 1.31 (121'800) 31.08.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 7'337'023 1.28 1'748'623 30.06.2012 Investment Advisor
MORGAN STANLEY INVES MORGAN STANLEY INVES 13F 6'738'000 1.18 683'679 30.06.2012 Investment Advisor
DELAWARE MANAGEMENT DELAWARE MANAGEMENT 13F 5'947'242 1.04 (320'500) 30.06.2012 Investment Advisor
COMGEST GROWTH PLC Multiple Portfolios MF-AGG 5'200'000 0.91 - 30.06.2011 Investment Advisor
CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 4'863'533 0.85 190'707 30.06.2012 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 4'401'658 0.77 (205'752) 29.06.2012 Investment Advisor
VONTOBEL ASSET MANAG VONTOBEL ASSET MANAG 13F 4'374'306 0.77 1'476'481 30.06.2012 Investment Advisor
SCOUT INVESTMENT ADV SCOUT INVESTMENT ADV 13F 4'112'145 0.72 (3'866) 30.06.2012 Investment Advisor
UMB BANK N A Multiple Portfolios MF-AGG 3'931'062 0.69 - 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley MICHEL MORIN Equalwt/In-Line 3 D 26 12 month 16.10.2012
Itau BBA Securities GREGORIO TOMASSI underperform 1 M 26 Not Provided 14.10.2012
HSBC RICHARD DINEEN overweight 5 M 27 Not Provided 05.10.2012
Scotia Capital ANDRES COELLO sector perform 3 M 24 12 month 27.09.2012
Goldman Sachs LUCIO G ALDWORTH neutral/neutral 3 U 25 12 month 31.07.2012
Barclays VERA ROSSI underweight 1 M 22 Not Provided 23.07.2012
Actinver SA MARTIN LARA hold 3 M 23 12 month 18.07.2012
JPMorgan ANDRE BAGGIO overweight 5 M 31 15 month 12.07.2012
Banorte-IXE MANUEL JIMENEZ ZALDIVAR buy 5 M 26 Not Provided 10.07.2012
Credit Suisse ANDREW T CAMPBELL outperform 5 M 26 Not Provided 10.07.2012
Miller Tabak + Co., LLC DAVID C JOYCE buy 5 M 25 12 month 10.07.2012
Grupo Santander VALDER NOGUEIRA hold 3 M 22 Not Provided 10.04.2012
BBVA ALEJANDRO GALLOSTRA underperform 1 N 24 Not Provided 13.01.2012
EVA Dimensions TEAM COVERAGE hold 3 U #N/A N/A Not Provided 23.11.2011
Holdings By:
Grupo Televisa SAB ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
BRF-Brasil Foods SA is a food processor in Latin America. The Company raises
chickens to produce poultry products. Brasil Foods also processes frozen
pastas, soybeans and their derivatives, and distributes frozen vegetables. The
Company's core business is chilled and frozen food. The Company has offices
in the Middle East, Asia, and Europe.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (16.03.2012) 21.70
52-Week Low (12.07.2012) 13.61
Daily Volume
18.25
52-Week High % Change -15.90% Dividend Yield -
52-Week Low % Change 34.09% Beta 1.11
% 52 Week Price Range High/Low 57.35% Equity Float -
Shares Out 08.10.2012 872.5 Short Int 10.57
15'922.64 1 Yr Total Return -6.09%
Total Debt 8'053.53 YTD Return -6.30%
Preferred Stock 0.0 Adjusted BETA 1.113
Minority Interest 39.6 Analyst Recs 10
Cash and Equivalents 2'892.90 Consensus Rating 3.200
Enterprise Value -
Average Volume 5 Day 1'313'949
BRFS US EQUITY YTD Change - Average Volume 30 Day 2'240'173
BRFS US EQUITY YTD % CHANGE - Average Volume 3 Month 2'315'586
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
6'633.4 11'393.0 15'905.8 22'681.3 25'706.2 24'417.2 26'570.6 27'845.5 30'341.4 6'473.0 7'175.2
1.31x 0.84x 2.74x 1.21x 1.43x 4.55x 5.26x 1.41x 1.30x - -
775.5 1'079.8 619.4 2'320.6 2'878.5 2'846.5 2'411.8 2'588.0 3'855.3 492.5 863.3
11.22x 8.83x 70.41x 11.85x 12.81x 9.35x 13.75x - - - -
321.3 54.4 123.0 804.1 1'367.4 1'452.9 645.6 849.1 1'838.5 141.3 441.8
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 37.80x 20.09x 28.59x 21.86x
EBITDA 2'878.49 Long-Term Rating Date 04.04.2012
EBIT 1'992.15 Long-Term Rating BBB-
Operating Margin 7.75% Long-Term Outlook STABLE
Pretax Margin 5.92% Short-Term Rating Date -
Return on Assets 4.74% Short-Term Rating -
Return on Common Equity 9.87%
Return on Capital 8.25% EBITDA/Interest Exp. 6.30
Asset Turnover 0.89% (EBITDA-Capex)/Interest Exp. 3.84
Net Debt/EBITDA 1.79
Gross Margin 25.9% Total Debt/EBITDA 2.80
EBITDA Margin 11.2%
EBIT Margin 7.7% Total Debt/Equity 57.2%
Net Income Margin 5.3% Total Debt/Capital 36.3%
Asset Turnover 0.89
Current Ratio 1.39 Net Fixed Asset Turnover 2.73
Quick Ratio 0.74 Accounts receivable turnover-days 40.98
Debt to Assets 26.86% Inventory Days 46.14
Tot Debt to Common Equity 57.24% Accounts Payable Turnover Day 44.16
Accounts Receivable Turnover 8.91 Cash Conversion Cycle 42.96
Inventory Turnover 7.91
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
BRF - Brasil Foods SAPrice/Volume
Valuation Analysis
1'624'286.00
Current Price (10/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C VAN ECK ASSOCIATES C 13F 14'411'166 1.65 1'664'744 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 8'871'238 1.02 19'966 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 4'601'265 0.53 922'975 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 4'418'924 0.51 592'482 30.06.2012 Investment Advisor
ARROWSTREET CAP LIMI ARROWSTREET CAPITAL 13F 3'913'454 0.45 147'046 30.06.2012 Hedge Fund Manager
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 3'639'282 0.42 (780'271) 30.06.2012 Investment Advisor
DELAWARE MANAGEMENT DELAWARE MANAGEMENT 13F 3'085'135 0.35 (123'600) 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 2'673'542 0.31 (352'421) 30.06.2012 Investment Advisor
WELLS CAPITAL MANAGE WELLS CAPITAL MANAGE 13F 2'271'378 0.26 2'127'078 30.06.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'699'820 0.19 127'000 30.06.2012 Pension Fund (ERISA)
BATTERYMARCH FINANCI BATTERYMARCH FINANCI 13F 1'651'299 0.19 (1'089'321) 30.06.2012 Investment Advisor
BLACKROCK INC BLACKROCK INC 13F 1'482'868 0.17 (35'471) 30.06.2012 Investment Advisor
CLAYMORE INVESTMENTS Multiple Portfolios MF-AGG 1'395'460 0.16 (119'234) 31.10.2011 Mutual Fund Manager
CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 1'331'981 0.15 (720'319) 30.06.2012 Investment Advisor
QVT FINANCIAL LP QVT FINANCIAL LP 13F 1'197'220 0.14 660'000 30.06.2012 Hedge Fund Manager
BNP PARIBAS INV PRTN BNP PARIBAS INVESTME 13F 1'189'138 0.14 441'073 30.06.2012 Investment Advisor
EMERGING GLOBAL SHAR Multiple Portfolios MF-AGG 1'179'046 0.14 - 12.10.2012 Investment Advisor
ALPS ADVISORS INC ALPS ADVISORS INC 13F 1'136'707 0.13 (856'185) 30.06.2012 Investment Advisor
MONTGOMERY ASSET MAN Multiple Portfolios MF-AGG 1'016'278 0.12 - 31.08.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 983'982 0.11 (70'127) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raymond James JOSEPH GIORDANO market perform 3 M #N/A N/A Not Provided 05.10.2012
JPMorgan ALAN ALANIS underweight 1 D 17 15 month 28.09.2012
Miller Tabak + Co., LLC TIM TIBERIO hold 3 D 18 12 month 14.09.2012
Itau BBA Securities ALEXANDRE RUIZ MIGUEL market perform 3 M 20 Not Provided 28.08.2012
Deutsche Bank JOSE J YORDAN hold 3 M 15 12 month 14.08.2012
HSBC PEDRO HERRERA overweight 5 M 20 Not Provided 23.07.2012
Grupo Santander LUIS MIRANDA buy 5 M 24 Not Provided 13.12.2011
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 18.11.2011
Banco BTG Pactual SA THIAGO DUARTE buy 5 M 21 12 month 21.10.2011
Bradesco Corretora RICARDO BOIATI market perform 3 M 21 Not Provided 13.05.2011
Holdings By:
BRF - Brasil Foods SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
NovaTek OAO is a Russian independent producer of natural gas. The Company
explores for,produces, processes, transports and markets natural gas and liquid
hydrocarbons. The Company's primary production and processing assets are
located in the Yamal-Nenets Autonomous Region in Western Siberia.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (15.11.2011) 156.00
52-Week Low (30.05.2012) 88.25
Daily Volume
120.8
52-Week High % Change -22.56% Dividend Yield -
52-Week Low % Change 36.88% Beta 1.24
% 52 Week Price Range High/Low 48.04% Equity Float -
Shares Out 30.06.2012 303.6 Short Int -
36'678.58 1 Yr Total Return -3.65%
Total Debt 95'478.00 YTD Return -2.03%
Preferred Stock 0.0 Adjusted BETA 1.240
Minority Interest 669.0 Analyst Recs 23
Cash and Equivalents 23'831.00 Consensus Rating 4.565
Enterprise Value -
Average Volume 5 Day 245'158
NVTK LI EQUITY YTD Change - Average Volume 30 Day 485'914
NVTK LI EQUITY YTD % CHANGE - Average Volume 3 Month 407'443
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
62'321.0 79'272.0 89'954.0 117'024.0 176'064.0 149'013.0 190'145.0 217'832.1 275'607.5 54'424.3 60'895.6
9.03x 2.06x 6.26x 9.42x 7.20x 28.45x 25.01x 5.46x 4.23x 21.82x 19.34x
29'157.0 36'798.0 39'271.0 56'200.0 88'917.0 73'878.0 91'324.0 100'846.0 128'196.9 22'409.1 26'692.3
19.31x 4.43x 14.33x 19.61x 14.27x 15.51x 11.73x - - - -
18'736.0 22'899.0 26'043.0 40'533.0 119'655.0 55'486.0 117'289.0 70'243.0 90'872.6 15'332.5 18'808.7
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 15.89x 12.50x - -
EBITDA 88'917.00 Long-Term Rating Date 19.11.2010
EBIT 79'442.00 Long-Term Rating BBB-
Operating Margin 45.12% Long-Term Outlook STABLE
Pretax Margin 76.69% Short-Term Rating Date -
Return on Assets 35.79% Short-Term Rating -
Return on Common Equity 61.66%
Return on Capital 41.99% EBITDA/Interest Exp. 41.36
Asset Turnover 0.53% (EBITDA-Capex)/Interest Exp. 29.58
Net Debt/EBITDA 0.81
Gross Margin - Total Debt/EBITDA 1.07
EBITDA Margin 50.5%
EBIT Margin 45.1% Total Debt/Equity 39.6%
Net Income Margin 68.0% Total Debt/Capital 28.3%
Asset Turnover 0.53
Current Ratio 1.16 Net Fixed Asset Turnover 1.00
Quick Ratio 0.77 Accounts receivable turnover-days 22.73
Debt to Assets 24.90% Inventory Days -
Tot Debt to Common Equity 39.62% Accounts Payable Turnover Day -
Accounts Receivable Turnover 16.06 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
NovaTek OAOPrice/Volume
Valuation Analysis
180'148.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
140'000.0
160'000.0
180'000.0
200'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011! !!
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC Multiple Portfolios MF-AGG 3'650'345 1.2 46'485 30.06.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 3'411'077 1.12 - 30.08.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 1'821'558 0.6 32'811 12.10.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 1'263'713 0.42 523'329 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'116'529 0.37 23'041 12.10.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 1'046'510 0.34 775'778 29.02.2012 Investment Advisor
VAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 896'111 0.3 - 12.10.2012 Investment Advisor
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 826'863 0.27 (156'902) 30.06.2012 Investment Advisor
DWS INVESTMENT SA Multiple Portfolios MF-AGG 780'700 0.26 8'000 31.08.2012 Mutual Fund Manager
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 778'836 0.26 (12'463) 31.08.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 771'771 0.25 79'160 31.08.2012 Investment Advisor
DEKA INTERNATIONAL S Multiple Portfolios MF-AGG 619'600 0.2 52'901 30.11.2011 Mutual Fund Manager
UBS STRATEGY FUND MG Multiple Portfolios MF-AGG 555'959 0.18 5'252 29.06.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 414'198 0.14 (77'858) 30.06.2012 Investment Advisor
NORDEA INVESTMENT FU Multiple Portfolios MF-AGG 391'700 0.13 - 31.08.2012 Investment Advisor
CARNEGIE FONDER AB/S Multiple Portfolios MF-AGG 375'000 0.12 - 31.08.2012 Investment Advisor
PICTET CONSEIL EN IN Multiple Portfolios MF-AGG 276'125 0.09 - 31.07.2012 Investment Advisor
JUPITER ASSET MANAGE Multiple Portfolios MF-AGG 263'600 0.09 (64'600) 30.03.2012 Investment Advisor
PICTET ASSET MANAGEM Multiple Portfolios MF-AGG 254'463 0.08 25'463 31.07.2012 Investment Advisor
RCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 251'073 0.08 (14'400) 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
VTB Capital DMITRY LOUKASHOV buy 5 M 150 12 month 15.10.2012
Renaissance Capital BRADLEY WAY buy 5 M 150 12 month 12.10.2012
Morgan Stanley PAVEL SOROKIN Overwt/In-Line 5 M 160 12 month 07.10.2012
JPMorgan ARTEM KONCHIN overweight 5 M 180 12 month 04.10.2012
Sanford C. Bernstein & Co OSWALD CLINT outperform 5 M 137 12 month 04.10.2012
Uralsib ALEXEI KOKIN buy 5 M 145 Not Provided 04.10.2012
Deutsche Bank PAVEL KUSHNIR buy 5 M 160 12 month 02.10.2012
ING Wholesale Banking IGOR KURINNYY buy 5 U 148 12 month 26.09.2012
Alfa-Bank MARIYA YEGIKYAN equalweight 3 M 134 Not Provided 21.09.2012
Troika Dialog OLEG MAXIMOV buy 5 M 175 12 month 21.09.2012
Societe Generale EVGENY SOLOVYOV sell 1 M 109 12 month 16.08.2012
Credit Suisse ANDREY OVCHINNIKOV outperform 5 M 133 Not Provided 09.08.2012
HSBC ILDAR KHAZIEV overweight 5 M 140 Not Provided 13.07.2012
Gazprombank ALEXANDER NAZAROV overweight 5 M 185 12 month 12.07.2012
RMG Securities MIKHAIL LOSHININ buy 5 N 135 Not Provided 12.07.2012
IFC Metropol SERGEY VAKHRAMEEV buy 5 M 155 12 month 02.07.2012
Otkritie Capital ALEXANDER BURGANSKY hold 3 M 147 12 month 13.03.2012
Aton LLC ELENA SAVCHIK buy 5 M 180 12 month 20.01.2012
Goldman Sachs GEYDAR MAMEDOV Buy/Neutral 5 M 207 12 month 29.11.2011
Barclays LYDIA RAINFORTH equalweight 3 M 145 Not Provided 15.11.2011
Wood & Company CHIRVANI ABDOULLAEV sell 1 N 124 12 month 22.06.2011
Holdings By:
NovaTek OAO ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Formosa Plastics Corporation manufactures and markets plastics materials and
chemical fiber products. The Company's products include PVC (Polyvinyl Chloride)
resins, high density polyethylene, tairylan acrylic fiber, acrylic acid and
ester, carbon fiber, caustic soda, PVC modifier, and calcium carbonate.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (20.02.2012) 93.90
52-Week Low (15.06.2012) 73.60
Daily Volume
80
52-Week High % Change -14.80% Dividend Yield -
52-Week Low % Change 8.70% Beta 0.99
% 52 Week Price Range High/Low 32.02% Equity Float 3'877.80
Shares Out 30.06.2012 6'120.9 Short Int 19.81
489'672.41 1 Yr Total Return 0.77%
Total Debt 66'559.01 YTD Return 4.14%
Preferred Stock 0.0 Adjusted BETA 0.985
Minority Interest 0.0 Analyst Recs 21
Cash and Equivalents 63'196.36 Consensus Rating 3.143
Enterprise Value 492'300.67
Average Volume 5 Day 6'329'242
1301 TT EQUITY YTD Change - Average Volume 30 Day 5'562'328
1301 TT EQUITY YTD % CHANGE - Average Volume 3 Month 5'885'401
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
181'606.8 182'042.2 156'969.6 194'446.0 187'603.3 198'853.5 175'386.7 178'867.7 192'942.7 44'905.4 46'615.1
2.76x 1.56x 2.59x 2.90x 2.65x 11.08x 11.50x 2.93x 2.70x - -
28'448.1 17'430.5 21'577.5 36'835.0 32'857.5 40'229.2 20'828.4 25'456.1 32'525.1 5'285.0 6'245.0
17.65x 16.28x 18.87x 15.30x 15.15x 14.94x 23.58x 19.34x 15.14x 20.33x 19.19x
47'810.6 19'709.5 27'533.4 45'546.4 35'724.5 51'710.3 13'235.4 21'143.3 30'912.4 8'734.2 7'001.9
10.90x 12.64x 14.96x 13.10x 13.84x 12.25x 36.93x 23.49x 15.83x 17.61x 18.28x
EBITDA 32'857.50 Long-Term Rating Date 06.05.2009
EBIT 22'548.89 Long-Term Rating BBB+
Operating Margin 12.02% Long-Term Outlook NEG
Pretax Margin 21.62% Short-Term Rating Date -
Return on Assets 10.51% Short-Term Rating -
Return on Common Equity 14.23%
Return on Capital 11.87% EBITDA/Interest Exp. 31.66
Asset Turnover 0.55% (EBITDA-Capex)/Interest Exp. 28.46
Net Debt/EBITDA 0.10
Gross Margin 16.9% Total Debt/EBITDA 2.03
EBITDA Margin 17.5%
EBIT Margin 12.0% Total Debt/Equity 27.6%
Net Income Margin 19.0% Total Debt/Capital 21.6%
Asset Turnover 0.55
Current Ratio 4.27 Net Fixed Asset Turnover 3.28
Quick Ratio 2.57 Accounts receivable turnover-days 22.10
Debt to Assets 19.66% Inventory Days 37.59
Tot Debt to Common Equity 27.59% Accounts Payable Turnover Day 29.10
Accounts Receivable Turnover 16.52 Cash Conversion Cycle 30.59
Inventory Turnover 9.71
Fiscal Year Ended
Formosa Plastics CorpPrice/Volume
Valuation Analysis
6'815'151.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHANG GUNG MEDICAL F n/a EXCH 509'091'226 8.32 2'736'000 31.08.2012 n/a
FORMOSA CHEMICALS & n/a EXCH 468'162'602 7.65 - 31.08.2012 Corporation
MERRILL LYNCH SEC n/a Co File 383'395'725 6.26 - 21.04.2012 n/a
NAN YA PLASTICS CORP n/a EXCH 283'454'909 4.63 - 31.08.2012 Corporation
YUNG-TSAI WANG n/a Co File 270'911'912 4.43 - 21.04.2012 n/a
CHIN'S INTL INVESTME n/a Co File 254'512'277 4.16 - 21.04.2012 n/a
WAN SHUN INTL INVEST n/a Co File 186'770'700 3.05 - 21.04.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 163'106'908 2.66 3'483'000 30.09.2012 Investment Advisor
FORMOSA PETROCHEMICA n/a EXCH 126'404'198 2.07 - 31.08.2012 Corporation
MING CHI UNIV OF TEC n/a Co File 86'457'055 1.41 - 21.04.2012 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 76'244'798 1.25 (3'000) 12.10.2012 Investment Advisor
VANGUARD EMS INDEX F n/a Co File 72'714'458 1.19 - 21.04.2012 n/a
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 63'066'000 1.03 30'076'000 30.06.2012 Investment Advisor
POLARIS SEC INVESTME Multiple Portfolios MF-AGG 57'984'000 0.95 (1'796'000) 30.06.2012 Mutual Fund Manager
FIDELITY INTERNATION Multiple Portfolios MF-AGG 40'540'216 0.66 (39'496'765) 29.02.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 26'836'000 0.44 210'000 12.10.2012 Investment Advisor
MIN-TING HO n/a EXCH 26'754'196 0.44 - 31.08.2012 n/a
EASTSPRING INVESTMEN Multiple Portfolios MF-AGG 25'087'000 0.41 - 16.04.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 19'337'137 0.32 60'000 12.10.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 13'377'350 0.22 571'000 31.07.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jih Sun Securities LIBAO WAN neutral 3 M #N/A N/A Not Provided 15.10.2012
Barclays SIDNEY YEH equalweight 3 N 73 Not Provided 11.10.2012
Deutsche Bank ALDEN LIN hold 3 M 84 12 month 09.10.2012
Credit Suisse JEREMY CHEN outperform 5 M 97 Not Provided 08.10.2012
Fubon Securities KERRY WU add 4 M 90 6 month 05.10.2012
President Capital Management TOM HUNG neutral 3 D 81 6 month 05.10.2012
Goldman Sachs TOMMY WONG neutral/cautious 3 M 72 12 month 04.10.2012
BNP Paribas Equity Research POR YONG LIANG hold 3 M 78 12 month 04.10.2012
Nomura DAVID WANG buy 5 M 93 Not Provided 04.10.2012
HSBC SRIHARSHA PAPPU underweight 1 M 64 Not Provided 02.10.2012
KGI Securities AARON LIU outperform 5 M 99 12 month 17.09.2012
SinoPac ALVIN LIAO sell 1 M 65 Not Provided 06.09.2012
Macquarie CORINNE JIAN neutral 3 M 69 12 month 04.09.2012
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 30.08.2012
E Sun Securities HONG CLIFF buy 5 N #N/A N/A Not Provided 16.08.2012
Morgan Stanley LILY CHEN Overwt/In-Line 5 M 87 12 month 09.07.2012
Capital Securities Corp TEAM COVERAGE neutral 3 M 80 3 month 05.06.2012
JPMorgan SAMUEL SW LEE Rating Suspended #N/A N/A M #N/A N/A Not Provided 10.05.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 28.04.2012
Grand Cathay Securities Co JUN LIAO underperform 1 D 60 Not Provided 27.07.2010
Holdings By:
Formosa Plastics Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Uralkali OJSC produces potash. The Company operates mines and ore-treatment
mills in the Perm Territory, Russia. Uralkali extracts and processes potassium
ore and sells standard and granular muriate of potash for the agriculture and
chemical industries. The Company's main markets include Brazil, India, China,
Southeast Asia, Russia, the United States, and Europe.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (28.10.2011) 46.69
52-Week Low (13.12.2011) 31.63
Daily Volume
40.51
52-Week High % Change -13.21% Dividend Yield -
52-Week Low % Change 28.07% Beta 1.15
% 52 Week Price Range High/Low 54.58% Equity Float -
Shares Out 01.08.2012 587.2 Short Int -
23'787.60 1 Yr Total Return 4.49%
Total Debt 3'299.25 YTD Return 14.39%
Preferred Stock 0.0 Adjusted BETA 1.147
Minority Interest 12.5 Analyst Recs 18
Cash and Equivalents 1'017.94 Consensus Rating 3.667
Enterprise Value -
Average Volume 5 Day 1'049'631
URKA LI EQUITY YTD Change - Average Volume 30 Day 2'352'798
URKA LI EQUITY YTD % CHANGE - Average Volume 3 Month 1'808'477
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/11 Q4 03/12 Q1
1'154.3 2'533.6 1'069.1 1'699.4 3'495.9 527.9 677.9 4'246.7 5'011.7 - 790.0
13.40x 1.77x 8.13x 8.91x 7.09x 0.00x 0.00x 6.09x 5.00x - -
473.4 1'668.2 517.9 800.4 2'068.2 0.0 0.0 2'679.8 3'251.0 - 475.0
32.69x 2.69x 16.78x 18.91x 11.98x 0.00x 0.00x - - - -
314.7 885.0 287.4 548.4 1'184.0 185.7 207.8 1'723.2 2'211.4 - 510.0
0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 0.00x 14.48x 11.36x - -
EBITDA 2'068.15 Long-Term Rating Date 18.06.2012
EBIT 1'690.67 Long-Term Rating BBB-
Operating Margin 48.36% Long-Term Outlook STABLE
Pretax Margin 38.25% Short-Term Rating Date -
Return on Assets 15.66% Short-Term Rating -
Return on Common Equity 23.90%
Return on Capital 18.06% EBITDA/Interest Exp. 41.64
Asset Turnover 0.46% (EBITDA-Capex)/Interest Exp. 34.28
Net Debt/EBITDA 1.10
Gross Margin 74.6% Total Debt/EBITDA 1.60
EBITDA Margin 59.2%
EBIT Margin 48.4% Total Debt/Equity 41.0%
Net Income Margin 33.9% Total Debt/Capital 29.0%
Asset Turnover 0.46
Current Ratio 2.74 Net Fixed Asset Turnover 1.48
Quick Ratio 1.81 Accounts receivable turnover-days 19.90
Debt to Assets 26.05% Inventory Days 73.75
Tot Debt to Common Equity 41.00% Accounts Payable Turnover Day 20.57
Accounts Receivable Turnover 18.34 Cash Conversion Cycle 73.09
Inventory Turnover 4.95
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Uralkali OJSCPrice/Volume
Valuation Analysis
986'221.00
Current Price (10/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 10'690'974 1.82 - 12.10.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 4'299'964 0.73 634'400 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 3'985'217 0.68 (66'600) 31.08.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 2'126'430 0.36 (544'005) 12.10.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 2'032'005 0.35 11'950 30.06.2012 Investment Advisor
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 1'681'029 0.29 (308'490) 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 1'444'842 0.25 (1'830) 31.08.2012 Investment Advisor
DWS INVESTMENT SA Multiple Portfolios MF-AGG 1'286'900 0.22 120'000 31.08.2012 Mutual Fund Manager
RCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 1'211'740 0.21 35'380 30.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'054'147 0.18 400'000 30.06.2012 Investment Advisor
DEKA INTERNATIONAL S Multiple Portfolios MF-AGG 1'052'001 0.18 (352'999) 30.11.2011 Mutual Fund Manager
PICTET & CIE Multiple Portfolios MF-AGG 881'862 0.15 522'402 31.07.2012 Mutual Fund Manager
NORDEA INVESTMENT FU Multiple Portfolios MF-AGG 795'703 0.14 - 31.08.2012 Investment Advisor
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 500'000 0.09 - 31.08.2012 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 498'200 0.08 60'000 31.08.2012 Investment Advisor
UBS STRATEGY FUND MG Multiple Portfolios MF-AGG 472'947 0.08 - 29.06.2012 Investment Advisor
ALLIANZ GLOBAL INVES Multiple Portfolios MF-AGG 440'966 0.08 - 30.06.2012 Mutual Fund Manager
PICTET ASSET MANAGEM Multiple Portfolios MF-AGG 419'542 0.07 39'992 31.07.2012 Investment Advisor
PICTET CONSEIL EN IN Multiple Portfolios MF-AGG 413'158 0.07 - 31.07.2012 Investment Advisor
JUPITER ASSET MANAGE Multiple Portfolios MF-AGG 393'500 0.07 (3'000) 30.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse SEMYON MIRONOV neutral 3 M 37 Not Provided 12.10.2012
Goldman Sachs DZHUNI ASTOR neutral/attractive 3 M 49 12 month 11.10.2012
Gazprombank ALEKSEI ASTAPOV neutral 3 M 43 12 month 11.10.2012
VTB Capital ELENA SAKHNOVA hold 3 M 44 12 month 08.10.2012
Uralsib ARTEM EGORENKOV hold 3 M 41 Not Provided 04.10.2012
Alfa-Bank MARIA BOVYKINA equalweight 3 M 41 Not Provided 17.09.2012
IFC Metropol SERGEY FILCHENKOV buy 5 M 47 12 month 12.09.2012
ING Wholesale Banking ANNA KOCHKINA buy 5 M 49 Not Provided 11.09.2012
Otkritie Capital DENIS GABRIELIK hold 3 M 45 Not Provided 10.09.2012
HSBC YONAH WEISZ overweight 5 M 52 Not Provided 06.09.2012
Troika Dialog MIKHAIL STISKIN hold 3 M 43 12 month 06.08.2012
JPMorgan YURIY A VLASOV neutral 3 M 37 3 month 21.06.2012
Renaissance Capital ANNA KUPRIYANOVA buy 5 M 45 12 month 21.05.2012
Deutsche Bank BOB KOMMERS hold 3 M 41 12 month 24.04.2012
Aton LLC MIKHAIL PAK hold 3 M 49 12 month 20.01.2012
RMG Securities DARIA KOZLOVA Under Review #N/A N/A M #N/A N/A Not Provided 09.03.2011
Holdings By:
Uralkali OJSC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
SK Hynix Inc. manufactures semiconductors, such as dynamic random access memory
(DRAM), NAND flash memory, and static random access memory (SRAM) chips.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (28.03.2012) 30'950.00
52-Week Low (19.12.2011) 19'750.00
Daily Volume
22850
52-Week High % Change -26.17% Dividend Yield -
52-Week Low % Change 15.70% Beta 1.15
% 52 Week Price Range High/Low 22.32% Equity Float 467.04
Shares Out 30.09.2012 694.1 Short Int -
15'860'698.00 1 Yr Total Return 4.10%
Total Debt 5'473'986.00 YTD Return 4.10%
Preferred Stock 0.0 Adjusted BETA 1.150
Minority Interest 0.0 Analyst Recs 43
Cash and Equivalents 1'299'318.00 Consensus Rating 4.674
Enterprise Value 18'989'826.01
Average Volume 5 Day 3'348'560
000660 KS EQUITY YTD Change - Average Volume 30 Day 5'047'728
000660 KS EQUITY YTD % CHANGE - Average Volume 3 Month 5'725'364
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
8'433'754.6 6'495'367.1 7'521'457.8 11'973'426.0 10'188'162.0 ######### ######### ######### ######### - -
1.58x 1.20x 2.32x 1.44x 1.69x 6.42x 7.89x 1.99x 1.77x - -
2'003'000.6 (300'341.2) 1'637'843.1 4'979'793.0 2'347'248.0 ######### ######### ######### ######### - -
6.64x 0.00x 10.65x 3.47x 7.35x 4.59x 15.02x 6.03x 3.98x - -
346'295.5 (4'719'632.9) (347'785.3) 2'785'945.0 129'142.0 ######### ######### (336'912.5) 911'960.5 - -
34.42x 0.00x 0.00x 5.08x 100.69x 7.07x 0.00x - 17.95x - -
EBITDA 2'347'248.00 Long-Term Rating Date 14.02.2012
EBIT 270'919.00 Long-Term Rating BB-
Operating Margin 2.66% Long-Term Outlook STABLE
Pretax Margin 2.32% Short-Term Rating Date -
Return on Assets 0.80% Short-Term Rating -
Return on Common Equity 1.58%
Return on Capital 2.10% EBITDA/Interest Exp. 7.74
Asset Turnover 0.63% (EBITDA-Capex)/Interest Exp. -0.88
Net Debt/EBITDA 1.66
Gross Margin 16.6% Total Debt/EBITDA 2.33
EBITDA Margin 23.0%
EBIT Margin 2.7% Total Debt/Equity 66.7%
Net Income Margin 1.3% Total Debt/Capital 40.0%
Asset Turnover 0.63
Current Ratio 0.96 Net Fixed Asset Turnover 1.34
Quick Ratio 0.60 Accounts receivable turnover-days 50.29
Debt to Assets 33.39% Inventory Days 39.87
Tot Debt to Common Equity 66.73% Accounts Payable Turnover Day 36.70
Accounts Receivable Turnover 7.26 Cash Conversion Cycle 53.45
Inventory Turnover 9.16
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
SK Hynix IncPrice/Volume
Valuation Analysis
3'901'823.00
Current Price (10/dd/yy) Market Data
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4'000'000.0
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12'000'000.0
14'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SK TELECOM CO LTD n/a EXCH 146'100'000 21.05 - 22.06.2012 Corporation
NATIONAL PENSION SER n/a Co File 56'060'192 8.08 - 30.03.2012 Investment Advisor
KOREA FINANCE CORPOR n/a EXCH 24'772'435 3.57 (7'640'500) 14.02.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 21'231'455 3.06 293'180 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 8'870'280 1.28 (780) 12.10.2012 Investment Advisor
MIRAE ASSET GLOBAL I Multiple Portfolios MF-AGG 6'492'917 0.94 540'947 31.03.2012 Investment Advisor
SAMSUNG INVESTMENT T Multiple Portfolios MF-AGG 6'168'112 0.89 (20'610) 29.06.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 6'014'657 0.87 423'790 31.03.2012 Mutual Fund Manager
UBS HANA ASSET MANAG Multiple Portfolios MF-AGG 4'839'408 0.7 (1'163'527) 31.03.2012 Mutual Fund Manager
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 4'063'730 0.59 330'300 29.06.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 3'872'855 0.56 (1'853'642) 29.02.2012 Investment Advisor
KOREA INVESTMENT TRU Multiple Portfolios MF-AGG 3'346'196 0.48 (544'435) 31.03.2012 Investment Advisor
ALLIANZ GLOBAL INVES Multiple Portfolios MF-AGG 2'815'068 0.41 (440'700) 31.03.2012 Mutual Fund Manager
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 1'992'349 0.29 190'916 31.03.2012 Investment Advisor
ALLIANCEBERNSTEIN LU Multiple Portfolios MF-AGG 1'954'780 0.28 753'150 31.08.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 1'910'740 0.28 2'000 12.10.2012 Investment Advisor
KB ASSET MANAGEMENT Multiple Portfolios MF-AGG 1'721'601 0.25 285'980 29.06.2012 Mutual Fund Manager
KYOBO AXA INVESTMENT Multiple Portfolios MF-AGG 1'684'750 0.24 66'410 31.03.2012 Mutual Fund Manager
KTB ASSET MANAGEMENT Multiple Portfolios MF-AGG 1'295'249 0.19 451'498 31.03.2012 Mutual Fund Manager
PRUDENTIAL ASSET MAN Multiple Portfolios MF-AGG 1'148'799 0.17 68'200 31.03.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Shinhan Investment Corp KIM YOUNG-CHAN buy 5 M 29'000 12 month 16.10.2012
KB Investment & Securities Co., Ltd BYUN HAN-JOON buy 5 M 35'000 12 month 16.10.2012
Nomura CHANG-WON CHUNG neutral 3 M 23'000 Not Provided 16.10.2012
Morgan Stanley LEE KA KEUN Overwt/Attractive 5 M 32'000 12 month 15.10.2012
Shinyoung Securities Co., Ltd. LIM DORI buy 5 M 31'000 12 month 15.10.2012
SK Securities Co Ltd SUNG-JAE DAVID CHOI buy 5 M 32'000 6 month 15.10.2012
Credit Suisse KEON HAN neutral 3 M 24'000 Not Provided 15.10.2012
Sanford C. Bernstein & Co MARK C NEWMAN outperform 5 M 27'000 12 month 15.10.2012
LIG Investment Securities CHOI DO-YEON buy 5 M 33'000 12 month 15.10.2012
JPMorgan JJ PARK neutral 3 M 22'000 9 month 11.10.2012
Dongbu Securities Co Ltd SHIN HYUNJOON buy 5 M 32'000 12 month 10.10.2012
HMC Investment Securities Co Ltd GREG GEUN-CHANG ROH buy 5 M 30'000 12 month 09.10.2012
Daishin Securities Co., Ltd. KANG JEONG-WON JEFF buy 5 M 32'000 6 month 08.10.2012
Kyobo Securities KOO JA-WOO buy 5 M 31'000 12 month 08.10.2012
IBK Securities Co Ltd SEUNG-WOO LEE buy 5 M 32'000 12 month 08.10.2012
Samsung Securities MINSEONG HWANG buy 5 U 30'000 12 month 04.10.2012
KTB Securities JIN SUNG-HAE buy 5 M 27'000 12 month 30.09.2012
Taurus Investment Securities Co Ltd KIM HYUNG-SIK buy 5 M 31'000 6 month 28.09.2012
BNP Paribas Equity Research PETER YU buy 5 M 28'000 12 month 27.09.2012
Eugene Investment & Securities Co., LtdLEE JEONG buy 5 M 28'000 12 month 24.09.2012
Hanwha Securities Co., Ltd AHN SEONG-HO buy 5 M 31'000 6 month 18.09.2012
Barclays BAE SEUNG-CHUL overweight 5 M 28'000 Not Provided 13.09.2012
HSBC RICKY JUIL SEO overweight 5 M 27'000 Not Provided 12.09.2012
Korea Investment & Securities SEO WON-SEOK buy 5 M 28'000 12 month 11.09.2012
Daewoo Securities JAMES SONG buy 5 M 26'000 12 month 10.09.2012
Leading Investment & Securities SANG-WOO OH buy 5 N 30'000 12 month 10.09.2012
KIWOOM Securities Co Ltd KIM SUNG-IN buy 5 M 39'000 6 month 10.09.2012
Mizuho Securities CHARLES PARK buy 5 M 26'000 12 month 06.09.2012
Tong Yang Investment Bank HYUN PARK buy 5 M 30'000 12 month 05.09.2012
Standard Chartered SEAN KIM outperform 5 M 34'000 12 month 30.08.2012
Macquarie DANIEL KIM neutral 3 M 20'000 12 month 30.08.2012
Daiwa Securities Co. Ltd. JAE H LEE buy 5 M 28'000 Not Provided 23.08.2012
Deutsche Bank SEUNGHOON HAN buy 5 M 34'000 12 month 30.07.2012
Meritz Securities Co., Ltd SEI CHEOL LEE buy 5 M 33'000 6 month 27.07.2012
Goldman Sachs MARCUS SHIN neutral/attractive 3 M 23'000 12 month 26.07.2012
HI Investment Securities SONG MYUNG-SUP buy 5 M 28'000 6 month 26.07.2012
NH Investment & Securities LEE SUN-TAE buy 5 M 35'000 6 month 21.06.2012
Woori Investment & Securities YOUNG PARK buy 5 M 38'000 12 month 27.04.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 02.03.2012
Frontier Investment & Capital Advisors OM PRAKASH SINGH buy 5 M 31'729 12 month 11.07.2011
Holdings By:
SK Hynix Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
China Steel Corporation manufactures and markets a variety of steel products.
The main products are hot rolled coils and sheets, cold rolled coils and sheets,
wire rods, steel plates, and steel bars.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.03.2012) 30.44
52-Week Low (06.09.2012) 24.00
Daily Volume
26
52-Week High % Change -14.60% Dividend Yield -
52-Week Low % Change 8.33% Beta 0.55
% 52 Week Price Range High/Low 31.04% Equity Float 10'254.69
Shares Out 26.07.2012 15'272.5 Short Int 462.66
397'084.38 1 Yr Total Return -7.37%
Total Debt 84'294.92 YTD Return -4.80%
Preferred Stock 382.7 Adjusted BETA 0.551
Minority Interest 0.0 Analyst Recs 25
Cash and Equivalents 2'891.48 Consensus Rating 2.120
Enterprise Value 487'418.51
Average Volume 5 Day 10'328'900
2002 TT EQUITY YTD Change - Average Volume 30 Day 19'575'100
2002 TT EQUITY YTD % CHANGE - Average Volume 3 Month 19'850'710
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
207'919.0 256'358.0 165'408.9 239'186.9 240'376.0 246'812.6 230'917.1 217'149.2 224'336.3 50'883.0 51'787.4
2.38x 1.33x 2.61x 2.14x 2.11x 8.41x 8.96x 2.29x 2.17x - -
60'189.1 44'728.8 21'270.7 50'776.6 30'706.0 42'074.9 18'495.9 23'660.1 30'711.5 5'098.3 5'711.5
8.23x 7.64x 20.29x 10.07x 16.50x 12.68x 27.20x 20.60x 15.87x 21.37x 20.22x
51'263.9 24'030.4 19'602.5 37'586.8 19'493.7 29'112.9 6'094.4 8'896.0 15'778.8 1'795.6 2'415.5
9.69x 11.38x 21.43x 11.84x 21.18x 15.69x 83.26x 45.22x 25.32x 38.75x 33.04x
EBITDA 30'706.01 Long-Term Rating Date -
EBIT 14'598.98 Long-Term Rating -
Operating Margin 6.07% Long-Term Outlook -
Pretax Margin 8.44% Short-Term Rating Date -
Return on Assets 4.83% Short-Term Rating -
Return on Common Equity 7.02%
Return on Capital 5.70% EBITDA/Interest Exp. 22.02
Asset Turnover 0.60% (EBITDA-Capex)/Interest Exp. 9.69
Net Debt/EBITDA 2.65
Gross Margin 9.0% Total Debt/EBITDA 2.75
EBITDA Margin 12.8%
EBIT Margin 6.1% Total Debt/Equity 29.2%
Net Income Margin 8.1% Total Debt/Capital 22.6%
Asset Turnover 0.60
Current Ratio 1.76 Net Fixed Asset Turnover 1.30
Quick Ratio 0.15 Accounts receivable turnover-days 6.36
Debt to Assets 19.98% Inventory Days 92.29
Tot Debt to Common Equity 29.25% Accounts Payable Turnover Day 8.61
Accounts Receivable Turnover 57.35 Cash Conversion Cycle 90.04
Inventory Turnover 3.96
Fiscal Year Ended
China Steel CorpPrice/Volume
Valuation Analysis
7'880'110.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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200'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MINISTRY OF ECONOMIC n/a EXCH 3'062'230'011 20.05 45'254'630 31.08.2012 n/a
CHINA STEEL ESOT n/a Co File 569'143'276 3.73 - 31.05.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 457'569'427 3 9'042'636 30.09.2012 Investment Advisor
YUN HUNG INVESTMENT n/a Co File 240'560'407 1.58 - 31.05.2012 n/a
BUREAU OF LABOR INSU n/a EXCH 239'218'423 1.57 3'535'247 31.08.2012 n/a
BUREAU OF LABOR INSU n/a EXCH 239'218'423 1.57 - 31.05.2012 Government
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 229'222'671 1.5 18'000 12.10.2012 Investment Advisor
VANGUARD EMS INDEX F n/a Co File 208'802'582 1.37 - 31.05.2012 n/a
CHUNGHWA POST CO LTD n/a Co File 206'372'896 1.35 - 31.05.2012 Government
MARUICHI STEEL TUBE n/a Co File 149'273'708 0.98 - 31.05.2012 Corporation
GOVT OF SINGAPORE IN n/a Co File 145'992'823 0.96 - 31.05.2012 Government
YUN YING INVESTMENT n/a Co File 142'156'753 0.93 - 31.05.2012 n/a
ISHARES MSCI EMERGIN n/a Co File 132'930'827 0.87 - 31.05.2012 n/a
POLARIS SEC INVESTME Multiple Portfolios MF-AGG 107'584'011 0.7 (8'780'660) 30.06.2012 Mutual Fund Manager
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 52'501'536 0.34 151'735 12.10.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 44'873'696 0.29 346'000 12.10.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 25'088'101 0.16 1'305'104 31.07.2012 Mutual Fund Manager
NOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 16'663'581 0.11 - 10.05.2012 Investment Advisor
CREDIT SUISSE ASSET Multiple Portfolios MF-AGG 14'726'679 0.1 (653'822) 31.08.2012 Mutual Fund Manager
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 12'676'048 0.08 - 31.01.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan DANIEL KANG neutral 3 M 29 9 month 10.10.2012
Barclays DAVID LIAO underweight 1 M 20 Not Provided 09.10.2012
VTB Capital WIKTOR BIELSKI hold 3 N 28 12 month 09.10.2012
Fubon Securities ROGER LEE reduce 2 M 24 6 month 05.10.2012
SinoPac ALVIN LIAO neutral 3 M 24 Not Provided 04.10.2012
Capital Securities Corp TEAM COVERAGE neutral 3 M 29 3 month 25.09.2012
KGI Securities MARC WANG underperform 1 M 22 12 month 14.09.2012
BNP Paribas Equity Research JIM HUNG reduce 2 M 20 12 month 13.09.2012
President Capital Management WEICHUN TSENG neutral 3 U 24 6 month 12.09.2012
Deutsche Bank JAMES KAN sell 1 M 25 12 month 27.08.2012
Goldman Sachs TOMMY WONG Sell/Neutral 1 D 19 12 month 27.08.2012
HSBC SIMON FRANCIS underweight 1 N 25 Not Provided 31.07.2012
Morgan Stanley CHARLES C SPENCER Underwt/Cautious 1 M 21 12 month 26.07.2012
Macquarie CORINNE JIAN underperform 1 M 22 12 month 12.07.2012
Jih Sun Securities RITA HSUEH neutral 3 M #N/A N/A Not Provided 10.07.2012
Ji Asia SAMUEL THAWLEY sell 1 M 23 12 month 27.06.2012
Credit Suisse RANDY ABRAMS neutral 3 M 25 Not Provided 25.06.2012
Daiwa Securities Co. Ltd. ALEXANDER LATZER hold 3 M 27 Not Provided 19.03.2012
Masterlink Securities CHARLES KO hold 3 M 30 3 month 17.02.2012
E Sun Securities DAVID LAI buy on weakness 5 M #N/A N/A Not Provided 13.02.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 07.01.2012
IBT Securities Co Ltd KENT CHEN buy 5 U #N/A N/A Not Provided 16.02.2011
Grand Cathay Securities Co TSAI YEN-LING neutral 3 M 32 Not Provided 04.11.2010
TIS Securities BRANDON LIU trading buy 5 M #N/A N/A Not Provided 05.03.2010
Holdings By:
China Steel Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Hyundai Heavy Industries Co., Ltd. builds ships for commercial, and military
purposes. The Company manufactures oil tankers, cargo and passenger vessels,
and warships. Hyundai Heavy Industries also produces heavy industrial
machineries, wind turbines, solar panels, electrical components for engines and
power trains, and industrial vehicles, such as cranes and bulldozers.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.03.2012) 346'500.00
52-Week Low (24.07.2012) 212'500.00
Daily Volume
235000
52-Week High % Change -32.18% Dividend Yield 1.70
52-Week Low % Change 10.59% Beta 1.34
% 52 Week Price Range High/Low 17.54% Equity Float 40.00
Shares Out 30.09.2012 76.0 Short Int -
17'860'000.00 1 Yr Total Return -20.58%
Total Debt 3'962'673.00 YTD Return -8.56%
Preferred Stock 0.0 Adjusted BETA 1.341
Minority Interest 0.0 Analyst Recs 39
Cash and Equivalents 627'317.75 Consensus Rating 4.590
Enterprise Value 22'280'905.55
Average Volume 5 Day 137'268
009540 KS EQUITY YTD Change - Average Volume 30 Day 240'044
009540 KS EQUITY YTD % CHANGE - Average Volume 3 Month 310'236
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
15'533'013.3 19'957'080.9 21'142'196.7 22'408'120.0 25'019'604.0 ######### ######### ######### ######### ######### #########
1.55x 0.48x 0.50x 1.34x 0.76x 4.61x 3.35x 0.65x 0.57x 2.93x 2.64x
2'142'636.3 2'596'964.1 2'666'205.3 4'031'444.7 3'116'212.7 ######### ######### ######### ######### 551'700.0 569'700.0
11.25x 3.66x 4.00x 7.43x 6.12x 5.45x 0.00x 7.70x 7.43x 9.96x 10.07x
1'736'060.3 2'256'664.8 2'146'488.8 2'835'399.0 1'945'941.6 ######### 694'259.3 ######### ######### 415'112.5 497'115.0
15.93x 5.34x 4.86x 9.51x 8.09x 6.36x 0.00x 7.95x 8.31x 9.29x 9.11x
EBITDA 3'116'212.68 Long-Term Rating Date -
EBIT 2'612'841.90 Long-Term Rating -
Operating Margin 10.44% Long-Term Outlook -
Pretax Margin 10.12% Short-Term Rating Date -
Return on Assets 6.65% Short-Term Rating -
Return on Common Equity 14.00%
Return on Capital 11.67% EBITDA/Interest Exp. 22.29
Asset Turnover 0.86% (EBITDA-Capex)/Interest Exp. 17.20
Net Debt/EBITDA 1.07
Gross Margin 15.4% Total Debt/EBITDA 1.27
EBITDA Margin 12.5%
EBIT Margin 10.4% Total Debt/Equity 26.9%
Net Income Margin 7.8% Total Debt/Capital 21.2%
Asset Turnover 0.86
Current Ratio 0.83 Net Fixed Asset Turnover 3.13
Quick Ratio 0.26 Accounts receivable turnover-days 44.64
Debt to Assets 13.24% Inventory Days 45.33
Tot Debt to Common Equity 26.92% Accounts Payable Turnover Day 31.11
Accounts Receivable Turnover 8.18 Cash Conversion Cycle 58.86
Inventory Turnover 8.05
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Hyundai Heavy Industries Co LtdPrice/Volume
Valuation Analysis
239'376.00
Current Price (10/dd/yy) Market Data
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5'000'000.0
10'000'000.0
15'000'000.0
20'000'000.0
25'000'000.0
30'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HYUNDAI HEAVY INDUST n/a Co File 14'711'560 19.36 - 31.12.2011 Corporation
MONG-JOON CHUNG n/a EXCH 7'717'769 10.15 - 24.02.2012 n/a
HYUNDAI MIPO DOCKYAR n/a EXCH 6'063'000 7.98 - 24.02.2012 Corporation
NATIONAL PENSION SER n/a EXCH 3'860'321 5.08 618'458 09.08.2011 Investment Advisor
MIRAE ASSET GLOBAL I n/a Co File 3'247'376 4.27 - 31.12.2011 Investment Advisor
KCC CORP n/a EXCH 2'369'393 3.12 (2'739'670) 13.01.2012 Corporation
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'747'555 2.3 37'109 30.06.2012 Investment Advisor
EMPLOYEE STOCK OWNER n/a Co File 1'258'281 1.66 - 31.12.2011 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 697'691 0.92 (63) 12.10.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 505'324 0.66 464'201 31.03.2012 Mutual Fund Manager
KOREA INVESTMENT TRU Multiple Portfolios MF-AGG 468'659 0.62 (22'401) 31.03.2012 Investment Advisor
SAMSUNG INVESTMENT T Multiple Portfolios MF-AGG 363'710 0.48 1'218 29.06.2012 Investment Advisor
JF ASSET MANAGEMENT Multiple Portfolios MF-AGG 205'760 0.27 77'658 30.09.2011 Mutual Fund Manager
KB ASSET MANAGEMENT Multiple Portfolios MF-AGG 198'055 0.26 (16'683) 31.03.2012 Mutual Fund Manager
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 191'264 0.25 160'511 31.08.2012 Investment Advisor
UBS HANA ASSET MANAG Multiple Portfolios MF-AGG 184'472 0.24 7'475 31.03.2012 Mutual Fund Manager
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 176'985 0.23 360 12.10.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 158'444 0.21 (444'419) 29.02.2012 Investment Advisor
KYOBO AXA INVESTMENT Multiple Portfolios MF-AGG 155'859 0.21 (8'774) 31.03.2012 Mutual Fund Manager
SHINYOUNG INVESTMENT Multiple Portfolios MF-AGG 144'309 0.19 (14'723) 31.03.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Shinhan Investment Corp KIM HYUN buy 5 U 300'000 12 month 15.10.2012
KTB Securities LEE KANG-ROK buy 5 M 330'000 12 month 12.10.2012
HMC Investment Securities Co Ltd DONG-EUN YEOM buy 5 M 300'000 6 month 10.10.2012
Credit Suisse HENRY KWON restricted #N/A N/A M #N/A N/A Not Provided 09.10.2012
Korea Investment & Securities RICHARD PARK buy 5 M 310'000 12 month 05.10.2012
Hyundai Securities LEE SANG-HWA buy 5 M 300'000 Not Provided 05.10.2012
Hanwha Securities Co., Ltd DONG-IK JEONG buy 5 M 300'000 6 month 28.09.2012
KB Investment & Securities Co., Ltd LEE SANG-WON buy 5 M 440'000 12 month 28.09.2012
Daishin Securities Co., Ltd. JEON JAE-CHEON buy 5 M 310'000 6 month 27.09.2012
Dongbu Securities Co Ltd KIM HONG-GYUN buy 5 M 390'000 12 month 24.09.2012
Samsung Securities YOUNGSOO HAN buy 5 M 290'000 12 month 24.09.2012
E*Trade Securities Korea PARK MOO-HYUN buy 5 M 320'000 12 month 24.09.2012
Nomura ANGELA HONG neutral 3 M 260'000 Not Provided 21.09.2012
Mirae Asset Securities CHUNG WOO CHANG hold 3 N 268'000 12 month 19.09.2012
Morgan Stanley PARK SANG-KYOO Overwt/Attractive 5 M 328'000 12 month 18.09.2012
Shinyoung Securities Co., Ltd. UM KYUNG-A buy 5 M 300'000 12 month 17.09.2012
Woori Investment & Securities JAE-HUN YU buy 5 M 330'000 12 month 17.09.2012
HI Investment Securities HUR SUNG DUCK buy 5 M 340'000 6 month 11.09.2012
JPMorgan LEE SOKJE neutral 3 D 280'000 9 month 03.09.2012
IBK Securities Co Ltd SHIM WON-SUP buy 5 M 290'000 12 month 03.09.2012
KIWOOM Securities Co Ltd CHOI WON-KYUNG outperform 5 M 300'000 6 month 21.08.2012
EVA Dimensions TEAM COVERAGE underweight 1 U #N/A N/A Not Provided 20.08.2012
Daewoo Securities SUNG KI-JONG buy 5 M 320'000 12 month 14.08.2012
NH Investment & Securities LEE YOONSANG buy 5 M 300'000 6 month 14.08.2012
Tong Yang Investment Bank LEE JAE-WON buy 5 M 300'000 12 month 14.08.2012
Macquarie LEE JUWON outperform 5 M 290'000 12 month 14.08.2012
Hana Daetoo Securities SANG-WOO LEE buy 5 M 288'000 12 month 14.08.2012
LIG Investment Securities CHOI GWANG-SHIK buy 5 M 480'000 12 month 14.08.2012
Deutsche Bank SANJEEV RANA buy 5 M 290'000 12 month 13.08.2012
Goldman Sachs ERIC NISHIMURA Buy/Neutral 5 M 335'000 12 month 13.08.2012
Daiwa Securities Co. Ltd. CHUNG SUNG-YOP outperform 5 M 280'000 Not Provided 13.08.2012
BNP Paribas Equity Research JAMES HIE SUK YOON buy 5 M 290'000 12 month 13.08.2012
Kyobo Securities OH SEAN buy 5 N 300'000 6 month 02.08.2012
HSBC PAUL CHOI neutral 3 M 260'000 Not Provided 30.07.2012
Meritz Securities Co., Ltd SUH JUNG-DUK buy 5 M 295'000 6 month 28.06.2012
SK Securities Co Ltd LEE JI-HOON buy 5 D 370'000 6 month 31.05.2012
BS Securities Co Ltd KWAK MIN-JUNG buy 5 M 400'000 6 month 07.05.2012
Ji Asia TONY MOYER sell 1 M 209'500 12 month 29.11.2011
Holdings By:
Hyundai Heavy Industries Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Gold Fields Limited produces precious metals. The Company has mines in South
Africa, Ghana, and Australia, as well as a partnership in Finland. Gold Fields
has a precious metals programs in Africa, Australasia, Europe, North America,
and South America.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (08.11.2011) 14'525.00
52-Week Low (19.07.2012) 9'551.00
Daily Volume
10783
52-Week High % Change -25.76% Dividend Yield 3.62
52-Week Low % Change 12.90% Beta 0.81
% 52 Week Price Range High/Low 20.99% Equity Float 645.74
Shares Out 10.10.2012 729.7 Short Int -
78'684.14 1 Yr Total Return -6.14%
Total Debt 15'509.40 YTD Return -10.35%
Preferred Stock 0.0 Adjusted BETA 0.806
Minority Interest 1'174.6 Analyst Recs 16
Cash and Equivalents 6'049.00 Consensus Rating 4.000
Enterprise Value 91'643.54
Average Volume 5 Day 1'353'143
GFI SJ EQUITY YTD Change - Average Volume 30 Day 3'301'559
GFI SJ EQUITY YTD % CHANGE - Average Volume 3 Month 2'543'693
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2007 30.06.2008 30.06.2009 30.06.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
19'433.8 23'009.5 29'086.9 31'565.3 41'876.8 34'633.0 45'896.9 46'234.3 55'757.7 11'327.3 11'879.7
3.98x 3.10x 2.56x 2.56x 2.41x 9.49x 8.17x 1.99x 1.51x 8.12x 7.75x
7'445.3 8'713.0 10'955.0 11'385.4 21'093.6 13'616.6 23'330.3 21'428.7 28'421.9 - -
10.40x 8.19x 6.80x 7.09x 4.78x 6.09x 3.80x 4.28x 3.22x - -
2'362.5 4'457.5 1'535.6 3'631.4 7'026.7 3'582.8 8'347.6 8'172.0 12'726.5 1'405.0 2'770.0
27.91x 21.68x 21.70x 23.12x 12.85x 19.15x 8.98x 9.58x 6.35x 6.97x 6.15x
EBITDA 21'093.60 Long-Term Rating Date 19.03.2009
EBIT 15'437.70 Long-Term Rating BBB-
Operating Margin 36.86% Long-Term Outlook STABLE
Pretax Margin 31.57% Short-Term Rating Date 19.03.2009
Return on Assets 9.21% Short-Term Rating A-3
Return on Common Equity 15.70%
Return on Capital 13.74% EBITDA/Interest Exp. 40.85
Asset Turnover 0.55% (EBITDA-Capex)/Interest Exp. 21.09
Net Debt/EBITDA 0.45
Gross Margin 36.9% Total Debt/EBITDA 0.74
EBITDA Margin 50.4%
EBIT Margin 36.9% Total Debt/Equity 33.1%
Net Income Margin 16.8% Total Debt/Capital 24.4%
Asset Turnover 0.55
Current Ratio 1.17 Net Fixed Asset Turnover 0.73
Quick Ratio 0.63 Accounts receivable turnover-days 17.85
Debt to Assets 18.40% Inventory Days 64.14
Tot Debt to Common Equity 33.08% Accounts Payable Turnover Day 27.48
Accounts Receivable Turnover 30.75 Cash Conversion Cycle 54.51
Inventory Turnover 8.56
Fiscal Year Ended
Gold Fields LtdPrice/Volume
Valuation Analysis
793'192.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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5'000.0
10'000.0
15'000.0
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35'000.0
40'000.0
45'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
STATE STREET BANK & #N/A N/A SJ-REG 51'432'151 7.05 - 28.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 29'924'249 4.1 713'352 30.09.2012 Investment Advisor
GOVERNMENT EMP PENSI #N/A N/A SJ-REG 29'549'336 4.05 - 28.09.2012 Government
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 22'500'000 3.08 (3'000'000) 30.06.2012 Investment Advisor
JP MORGAN CHASE BANK #N/A N/A SJ-REG 20'088'355 2.75 - 28.09.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 19'633'706 2.69 4'152 12.10.2012 Investment Advisor
BANK OF NEW YORK EUR #N/A N/A SJ-REG 18'661'479 2.56 - 28.09.2012 Bank
NORTHERN TR AVFC GOV n/a SJ-REG 16'141'696 2.21 - 28.09.2012 n/a
CACEIS BANK FRANCE #N/A N/A SJ-REG 12'616'717 1.73 - 28.09.2012 Bank
BANK OF NEW YORK #N/A N/A SJ-REG 11'824'008 1.62 - 28.09.2012 Investment Advisor
RBC DEXIA INVSTOR SE #N/A N/A SJ-REG 9'974'793 1.37 - 28.09.2012 Investment Advisor
JP MORGAN CHASE BANK #N/A N/A SJ-REG 9'716'476 1.33 - 28.09.2012 Investment Advisor
ALLAN GRAY UNIT TRUS Multiple Portfolios MF-AGG 9'619'983 1.32 127'727 29.06.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 9'189'032 1.26 (365) 12.10.2012 Investment Advisor
COMGEST GROWTH PLC Multiple Portfolios MF-AGG 8'800'000 1.21 - 30.06.2011 Investment Advisor
INVESTEC FUND GROUP Multiple Portfolios MF-AGG 8'639'600 1.18 (55'914) 31.07.2012 Investment Advisor
CITIBANK LONDON #N/A N/A SJ-REG 7'660'641 1.05 - 28.09.2012 Bank
NORTHERN TRUST COMPA #N/A N/A SJ-REG 6'338'846 0.87 - 28.09.2012 Unclassified
NEDCOR BANK MGMT CO Multiple Portfolios MF-AGG 5'990'933 0.82 185'087 30.06.2012 Investment Advisor
BNYM AS E&A OMNIBUS n/a SJ-REG 5'944'873 0.81 - 28.09.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs EUGENE KING neutral/attractive 3 M 13'000 12 month 15.10.2012
Credit Suisse SAMANTHA HARTARD neutral 3 M 13'100 Not Provided 12.10.2012
Imara PERCY TAKUNDA buy 5 M #N/A N/A Not Provided 12.10.2012
HSBC PATRICK CHIDLEY overweight 5 M 17'367 Not Provided 09.10.2012
CIBC World Markets LEON ESTERHUIZEN sector perform 3 M 17'000 Not Provided 05.10.2012
Morgan Stanley CHRISTOPHER NICHOLSON Overwt/Attractive 5 M 12'500 12 month 03.10.2012
Deutsche Bank ANNA MULHOLLAND hold 3 M 12'000 12 month 02.10.2012
SBG Securities DAVID R DAVIS buy 5 M 13'000 12 month 02.10.2012
Barclays ANDREW BYRNE overweight 5 N 12'000 Not Provided 17.09.2012
JPMorgan ALLAN COOKE overweight 5 M 12'800 12 month 06.09.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 06.09.2012
Renaissance Capital DERRYN MAADE buy 5 M 12'466 Not Provided 28.08.2012
BMO Capital Markets DAVID HAUGHTON market perform 3 M 12'500 Not Provided 24.08.2012
Holdings By:
Gold Fields Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Impala Platinum Holdings Limited, or Implats, is the holding company for a group
of companies which operate platinum mines. In addition to platinum, Implats
mines, produces, and markets other platinum group metals such as palladium,
rhodium, and nickel. Implats also provides refining services for base and
precious metals producers.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (16.11.2011) 18'950.00
52-Week Low (05.09.2012) 12'347.00
Daily Volume
15118
52-Week High % Change -19.93% Dividend Yield 1.29
52-Week Low % Change 22.44% Beta 1.18
% 52 Week Price Range High/Low 34.42% Equity Float 433.08
Shares Out 06.06.2012 631.7 Short Int -
95'502.52 1 Yr Total Return -9.70%
Total Debt 2'203.00 YTD Return -8.54%
Preferred Stock 0.0 Adjusted BETA 1.183
Minority Interest 2'307.0 Analyst Recs 17
Cash and Equivalents 1'193.00 Consensus Rating 3.059
Enterprise Value 98'819.52
Average Volume 5 Day 990'598
IMP SJ EQUITY YTD Change - Average Volume 30 Day 2'058'701
IMP SJ EQUITY YTD % CHANGE - Average Volume 3 Month 1'799'434
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
37'619.0 26'121.0 25'446.0 33'132.0 27'593.0 - - 31'678.1 37'715.4 - -
4.78x 3.93x 4.26x 3.29x 3.09x - - 3.17x 2.70x - -
17'563.0 9'795.0 8'115.0 11'565.0 0.0 - - 7'235.1 9'520.8 - -
10.25x 10.49x 13.34x 9.41x 0.00x - - 13.69x 10.38x - -
17'596.0 6'020.0 4'715.0 6'638.0 4'180.0 - - 3'728.2 5'101.1 - -
14.96x 17.03x 22.90x 16.49x 19.74x - - 24.36x 17.91x - -
EBITDA 11'565.00 Long-Term Rating Date -
EBIT 5'592.00 Long-Term Rating -
Operating Margin 20.27% Long-Term Outlook -
Pretax Margin 22.65% Short-Term Rating Date -
Return on Assets 5.96% Short-Term Rating -
Return on Common Equity 8.55%
Return on Capital 8.50% EBITDA/Interest Exp. 21.78
Asset Turnover 0.39% (EBITDA-Capex)/Interest Exp. 11.81
Net Debt/EBITDA -0.23
Gross Margin 25.2% Total Debt/EBITDA 0.16
EBITDA Margin 34.9%
EBIT Margin 20.3% Total Debt/Equity 4.4%
Net Income Margin 15.1% Total Debt/Capital 4.0%
Asset Turnover 0.39
Current Ratio 2.25 Net Fixed Asset Turnover 0.75
Quick Ratio 0.20 Accounts receivable turnover-days 21.53
Debt to Assets 3.03% Inventory Days 111.28
Tot Debt to Common Equity 4.39% Accounts Payable Turnover Day 62.52
Accounts Receivable Turnover 16.96 Cash Conversion Cycle 51.17
Inventory Turnover 3.29
Fiscal Year Ended
Impala Platinum Holdings LtdPrice/Volume
Valuation Analysis
920'983.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
16.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GEPF EQUITY n/a SJ-REG 63'626'077 10.07 - 28.09.2012 n/a
ROYAL BAFOKENG IMPAL n/a SJ-REG 56'556'211 8.95 - 28.09.2012 n/a
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 39'007'322 6.17 3'582 12.10.2012 Investment Advisor
BONY EUROPE LTD ACCO n/a SJ-REG 32'000'000 5.07 (238'022) 28.09.2012 n/a
JP MORGAN CHASE BANK n/a SJ-REG 30'805'076 4.88 (397'457) 28.09.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 23'979'577 3.8 1'171'928 30.09.2012 Investment Advisor
STATE STREET BANK AN n/a SJ-REG 22'614'237 3.58 1'049'332 28.09.2012 n/a
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 21'597'731 3.42 1'545'000 30.06.2012 Investment Advisor
ROYAL BAFOKENG THOLO n/a SJ-REG 18'558'993 2.94 - 28.09.2012 n/a
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 14'291'328 2.26 - 30.08.2012 Investment Advisor
ALLAN GRAY UNIT TRUS Multiple Portfolios MF-AGG 14'129'551 2.24 2'372'173 29.06.2012 Investment Advisor
BANK OF NEW YORK (B) n/a SJ-REG 13'423'286 2.12 234'434 28.09.2012 n/a
STATE STREET BANK AN n/a SJ-REG 11'491'290 1.82 347'252 28.09.2012 n/a
VANGUARD EMERGING MA n/a SJ-REG 10'729'087 1.7 216'920 28.09.2012 n/a
DEUTSCHE BANK TRUST n/a SJ-REG 10'258'097 1.62 - 28.09.2012 n/a
NORTHERN TRUST COMPA n/a SJ-REG 9'095'031 1.44 - 28.09.2012 n/a
MOROKOTSO TRUST n/a SJ-REG 9'016'161 1.43 - 28.09.2012 n/a
ROYAL BAFOKENG RESOU n/a SJ-REG 8'000'000 1.27 - 28.09.2012 n/a
JP MORGAN CHASE BANK n/a SJ-REG 7'791'981 1.23 42'555 28.09.2012 n/a
BONY EUROPE LTD CLIE n/a SJ-REG 7'595'669 1.2 (110'930) 28.09.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets EDWARD STERCK underperform 1 M 12'500 Not Provided 12.10.2012
Credit Suisse NIHAL SHAH neutral 3 M 15'000 Not Provided 12.10.2012
Nomura TYLER BRODA reduce 2 M 9'000 Not Provided 04.10.2012
SBG Securities JUSTIN FRONEMAN buy 5 M 15'000 12 month 03.10.2012
Deutsche Bank ANNA MULHOLLAND buy 5 M 17'000 12 month 02.10.2012
CIBC World Markets ARNOLD VAN GRAAN sector underperform 1 M 10'000 Not Provided 07.09.2012
JPMorgan STEVE SHEPHERD neutral 3 M 14'600 12 month 05.09.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 31.08.2012
HSBC COR BOOYSEN overweight 5 M 18'100 Not Provided 29.08.2012
Morgan Stanley CHRISTOPHER NICHOLSON Equalwt/Attractive 3 M 15'000 12 month 24.08.2012
BNP Paribas Cadiz Securities NIC DINHAM hold 3 M 15'000 12 month 24.08.2012
Goldman Sachs EUGENE KING sell/attractive 1 M 13'000 12 month 08.08.2012
Barclays ANDREW BYRNE overweight 5 M 14'000 Not Provided 06.08.2012
Renaissance Capital EMMA TOWNSHEND buy 5 M 26'000 Not Provided 17.11.2011
Holdings By:
Impala Platinum Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |