fundamental equity analysis - ftse 100 index members (ukx index)
DESCRIPTION
Fundamental Equity Analysis - FTSE 100 Index Members (UKX Index)TRANSCRIPT
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April 2013
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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 14392574 1935.593 1116 1116 204 220 220 101.42 110.55 110.55 15.42 15.42 14.14 14.14 18.80
Euro Stoxx 50 Pr EUR 2529002 5372.293 4595 4595 733 768 768 228.31 305.59 305.59 18.52 15.97 13.84 13.84 19.53
NIKKEI 225 JPY 2558234 186.6975 188 188 19 20 20 5.28 5.51 5.51 0.27 0.27 0.26 0.26 0.12
FTSE 100 INDEX GBP 2682024 11608.24 9587 9587 1446 1647 1647 530.70 818.94 818.94 27.31 - 17.70 17.70 22.54
SWISS MARKET INDEX CHF 1032475 10951.8 4099 4099 841 833 833 406.58 549.07 549.07 20.92 18.53 15.49 15.49 21.83
S&P/TSX COMPOSITE INDEX CAD 1677743 17146.39 7904 7904 1848 2081 2081 794.29 887.81 887.81 15.43 15.43 13.80 13.80 24.27
S&P/ASX 200 INDEX AUD 1414577 6699.644 2865 2865 604 702 702 251.37 341.05 341.05 21.63 17.51 15.94 15.94 22.29
HANG SENG INDEX HKD 1702834 3309.148 1659 1659 376 407 407 268.13 266.04 266.04 1.39 1.52 1.40 1.40 3.12
MSCI EM USD 7697940 1533.773 1085 1085 201 216 216 87.02 95.19 95.19 11.82 13.40 10.81 10.81 20.03
HSBC HOLDINGS PLC GBp 194198 7288 18476 430 4 12 387 #VALUE! 127870 121335 103439 109654 - - - - 0.74 1.17 1.47 1.65 20.50 - 16.26 14.54 -16.15 - - - - A+ 29.11.2011 Aa3 21.06.2012
VODAFONE GROUP PLC GBp 135478 38651 49646 52 0 2 13 168.79 70106 67478 66991 68359 27509 21004 - - 0.29 -0.05 0.23 0.25 - - 18.10 16.89 1.75 8.15 36.51 11.89 47.01 A- 30.05.2006 A3 03.08.2011
BP PLC GBp 132762 4462 19136 74 0 2 30 245.66 567256 560136 519122 532825 30874 33312 14010 14010 0.33 0.92 1.29 1.44 17.18 30.88 12.30 10.98 0.03 7.69 -83.62 -17.29 8.98 A 24.09.2010 - -
ROYAL DUTCH SHELL PLC-A SHS GBp 208003 749 6331 57 0 2 28 345.33 705563 705563 691755 703368 78710 78710 15643 15643 6.21 6.42 6.34 6.43 11.46 11.88 11.60 11.43 -0.97 5.17 -10.34 -1.03 16.85 AA 03.09.2009 Aa1 20.07.2005
GLAXOSMITHKLINE PLC GBp 112708 2447 4904 28 0 1 6 135.32 39920 39920 40677 42251 12803 12803 3385 3385 1.59 1.40 1.74 1.92 24.74 19.21 19.96 18.06 -5.27 4.88 -20.99 -0.84 48.44 A+ 18.02.2008 - -
BRITISH AMERICAN TOBACCO PLC GBp 101779 585 2026 16 0 0 3 115.25 22942 22942 24307 25379 9278 9278 10049 10049 3.09 2.99 3.48 3.81 26.66 25.79 22.90 20.93 -2.05 12.58 -4.14 19.71 61.08 A- 09.11.2012 - -
ROYAL DUTCH SHELL PLC-B SHS GBp 208003 1592 6331 57 0 2 28 345.32 705563 705563 691755 703368 78710 78710 15643 15643 6.21 6.42 6.34 6.43 11.81 12.25 11.96 11.79 -0.97 5.17 -10.34 -1.03 16.85 AA 03.09.2009 Aa1 20.07.2005
DIAGEO PLC GBp 76295 834 2531 13 0 2 2 89.67 16254 16680 17328 18529 5779 6082 2654 2654 1.24 1.53 1.56 1.73 29.95 34.95 29.52 26.48 12.56 10.95 27.76 14.74 55.07 A- 01.09.2005 A3 17.10.2005
BHP BILLITON PLC GBp 173009 2237 5298 43 0 2 8 308.82 109086 101118 102833 113273 51149 42726 24709 24709 5.50 2.76 3.86 4.59 24.21 16.99 17.27 14.56 1.03 10.20 -16.76 12.56 63.82 A+ 15.11.2010 (P)A1 15.11.2010
ASTRAZENECA PLC GBp 61060 801 1247 16 0 0 13 95.24 42249 42249 39798 38670 16097 17552 3583 3583 9.15 7.54 8.23 7.93 14.80 12.25 13.56 14.08 -25.26 -2.91 -29.78 -0.72 62.75 AA- 27.07.2007 A1 30.07.2007
RIO TINTO PLC GBp 92601 1787 1847 41 0 17 12 185.71 76978 76978 88228 93800 24018 24018 15420 15420 7.06 -2.44 9.02 10.26 - 15.18 11.88 10.44 -23.88 16.85 -60.94 13.11 47.12 A- 18.04.2011 - -
BG GROUP PLC GBp 57531 1915 3402 23 0 0 7 103.70 28595 32722 30416 34615 15403 15951 4161 4161 1.95 1.55 1.99 2.36 24.94 19.08 19.40 16.36 -15.34 10.37 2.59 9.25 73.62 - - - -
BARCLAYS PLC GBp 55902 28111 12243 661 0 14 194 #VALUE! 59 K 52 K 44 K 46 K - - - - 0.69 -0.13 0.56 0.67 - 9.58 11.81 9.86 1.61 -9.26 - - - A 29.11.2011 (P)A3 21.06.2012
STANDARD CHARTERED PLC GBp 61775 832 2413 171 2 1 184 #VALUE! 40640 40640 31312 34405 - - - - 3.20 3.08 3.59 3.96 18.96 18.25 16.25 14.75 15.91 6.22 - - - A+ 01.12.2011 A2 26.11.2010
UNILEVER PLC GBp 121538 783 2832 15 0 1 4 155.71 77517 77517 80817 85413 12655 12655 - - 2.35 2.39 2.56 2.78 30.81 31.38 28.83 26.54 15.79 8.07 8.73 6.57 24.66 A+ 05.10.2000 A1 11.07.2000
SABMILLER PLC GBp 82313 375 1664 29 0 1 1 152.82 25242 25857 37002 39254 7784 8197 - - 2.91 4.22 3.62 4.08 27.87 35.02 32.43 28.80 15.64 0.93 15.23 7.70 47.88 BBB+ 04.08.2003 Baa1 27.10.2005
RECKITT BENCKISER GROUP PLC GBp 51591 453 734 5 0 0 1 55.19 14449 14449 15269 16004 4105 4105 - - 3.99 3.81 4.01 4.24 28.51 27.06 27.13 25.66 1.31 19.53 4.23 24.47 42.91 A+ 16.12.2003 - -
TESCO PLC GBp 45656 5085 8032 18 0 0 5 57.91 97476 98230 99944 104232 7713 7470 - - 0.57 0.53 0.48 0.50 16.23 16.27 17.99 17.02 10.20 11.24 6.22 12.48 11.49 A- 29.07.2008 Baa1 20.04.2012
PRUDENTIAL PLC GBp 40748 2223 2557 10 0 0 8 43.41 83788 83788 87446 89651 - - - - 1.19 1.31 1.21 1.34 18.43 20.27 19.94 18.00 78.48 - - - - A+ 17.08.2010 A2 20.12.2002
NATIONAL GRID PLC GBp 41264 1500 3701 35 0 0 4 72.88 20891 20548 21787 22598 7215 7538 - - 0.77 0.96 0.81 0.83 17.70 20.70 21.09 20.51 -5.38 12.97 -2.12 11.35 55.41 A- 24.08.2007 Baa1 12.01.2007
ANGLO AMERICAN PLC GBp 36289 1014 1391 25 0 9 14 75.65 43439 43439 51703 54057 11602 11602 8034 8034 3.91 -1.70 3.50 4.25 - 15.55 16.98 13.97 -8.98 20.36 -49.07 -8.82 40.34 BBB+ 18.04.2011 Baa1 23.02.2009
IMPERIAL TOBACCO GROUP PLC GBp 33007 712 990 14 0 0 1 46.61 22160 22160 12241 12664 6810 6810 2282 2282 2.49 1.03 3.21 3.46 49.56 20.50 15.88 14.75 -5.11 90.21 57.87 35.89 46.42 BBB 20.05.2008 - -
BT GROUP PLC GBp 32241 5566 8151 16 0 0 1 45.12 29160 27348 27396 26802 9349 8882 2469 2469 0.36 0.41 0.38 0.38 14.99 16.91 16.30 16.11 -5.79 -4.81 7.80 2.85 49.05 BBB 19.07.2011 - -
ROLLS-ROYCE HOLDINGS PLC GBp 31010 584 1872 2 0 0 4 29.20 18367 18367 22921 24220 2548 2548 1800 1800 1.41 1.86 0.99 1.08 13.38 17.65 25.18 23.00 14.08 17.11 21.12 30.05 20.95 A 13.04.2012 - -
LLOYDS BANKING GROUP PLC GBp 51799 110663 70424 287 0 1 168 #VALUE! 54989 54989 27562 27462 - - - - 0.03 -0.03 0.06 0.08 - 41.90 18.83 13.11 2.65 - - - - A- 29.11.2011 A3 21.06.2012
CENTRICA PLC GBp 28464 3433 5199 8 0 0 1 35.09 36161 36161 36902 38476 5585 5585 5958 5958 0.39 0.37 0.42 0.47 22.32 21.06 19.75 17.77 7.40 15.93 17.70 12.24 23.33 A- 29.05.2009 A3 21.06.2006
XSTRATA PLC GBp 49047 1379 3003 26 0 4 3 100.39 47754 47754 51372 54842 12267 12267 6878 6878 1.90 0.60 1.88 2.36 61.68 19.62 19.80 15.76 -10.07 5.24 -45.72 -8.64 38.80 BBB+ *- 29.11.2012 - -
COMPASS GROUP PLC GBp 22725 917 1855 3 0 0 1 24.34 25532 25532 26573 28154 2235 2235 - - 0.67 0.48 0.70 0.78 38.75 28.18 26.75 24.20 10.23 18.63 16.91 24.50 13.22 A 18.02.2013 Baa1 26.11.2009
SSE PLC GBp 21526 397 945 9 0 0 0 29.45 47914 47330 47887 49926 2940 3132 - - 1.94 0.37 1.72 1.76 90.75 20.28 19.63 19.14 18.07 27.22 7.36 8.57 10.00 A- 21.08.2009 A3 22.09.2009
WPP PLC GBp 19719 399 1266 7 0 0 3 24.36 15667 15667 16648 17506 2485 2485 - - 0.97 1.00 1.22 1.34 23.58 24.34 19.31 17.59 5.29 16.47 6.54 16.21 23.95 BBB 10.11.2008 Baa2 26.03.2012
GLENCORE INTERNATIONAL PLC GBp 38446 5535 7099 54 0 5 4 112.04 323873 323873 329179 346254 6949 6949 - - 0.27 0.22 0.90 1.12 56.71 45.65 13.77 11.07 22.95 25.78 6.08 -5.44 3.24 BBB 29.11.2012 - -
ARM HOLDINGS PLC GBp 19310 1071 1381 0 0 0 1 18.74 871 871 1015 1195 342 342 112 112 0.17 0.18 0.28 0.36 118.32 120.55 73.51 57.85 26.13 30.49 63.77 41.85 59.30 - - - -
BAE SYSTEMS PLC GBp 18721 1075 3251 5 0 0 5 18.25 25102 25102 29168 29011 3321 3321 1814 1814 0.49 0.50 0.64 0.63 17.59 18.01 13.70 13.94 -9.77 4.43 -5.49 6.17 19.98 BBB+ 16.10.2007 Baa2 14.04.2005
EXPERIAN PLC GBp 17087 182 1029 3 0 0 0 29.22 6777 6777 7178 7782 2232 2293 - - 1.48 0.51 1.26 1.47 75.59 38.08 30.56 26.18 23.40 10.68 26.41 14.38 51.10 - - - -
TULLOW OIL PLC GBp 17221 835 908 2 0 0 0 27.42 3540 3540 4120 4003 1578 1578 1403 1403 0.15 1.04 1.09 1.04 41.62 289.17 39.57 41.76 2.62 32.77 -56.21 8.63 67.31 - - - -
SHIRE PLC GBp 16630 209 552 2 0 0 2 24.54 7021 7021 7646 8217 1834 1880 705 705 1.81 2.03 3.40 3.85 33.59 33.84 20.02 17.70 14.79 16.19 -24.36 27.99 40.44 - - - -
CRH PLC GBp 15726 483 726 7 0 0 3 23.36 28182 28182 28807 30397 2477 2477 893 893 0.76 1.15 1.28 1.65 33.46 50.91 30.26 23.45 4.83 -3.02 -1.46 -15.88 13.27 BBB+ 17.12.2007 - -
LEGAL & GENERAL GROUP PLC GBp 15191 4052 5913 5 0 0 25 #VALUE! 52826 52826 44957 50017 - - - - 0.21 0.21 0.22 0.24 18.49 18.81 17.48 16.36 137.36 - - - - A 09.02.2010 A3 18.05.2010
OLD MUTUAL PLC GBp 14848 1738 4892 5 0 3 6 16.59 27044 27044 #VALUE! #VALUE! - - - - 0.19 0.18 0.30 0.33 24.90 24.57 15.10 13.79 200.69 187.63 - - - - - Baa2 08.10.2012
PEARSON PLC GBp 14273 554 807 3 0 0 2 16.13 7641 7641 9388 9313 1444 1444 - - 0.72 0.53 1.23 1.38 49.60 36.63 21.48 19.17 7.59 2.47 2.24 2.49 28.54 BBB+ 25.11.1998 Baa1 01.02.2002
REED ELSEVIER PLC GBp 13972 1182 1187 6 0 2 1 20.56 9237 9237 9244 9613 2853 2853 1308 1308 0.68 0.69 0.80 0.86 25.48 26.03 22.14 20.51 2.87 10.41 13.22 13.29 46.65 BBB+ 12.12.2008 - -
AVIVA PLC GBp 13167 6006 2946 12 2 2 35 #VALUE! 65754 65754 64966 64009 - - - - -0.19 -0.24 0.66 0.72 - - 10.20 9.39 33.87 44.19 - - - A- 15.08.2012 A1 *- 12.03.2013
WOLSELEY PLC GBp 13123 246 286 1 0 0 1 14.55 20270 19417 20074 21466 719 745 - - 0.42 0.05 2.73 3.27 1544.94 138.98 26.49 22.13 -1.53 -6.73 -67.73 -21.88 5.79 - - - -
BRITISH SKY BROADCASTING GRO GBp 21233 436 1674 4 0 0 2 23.40 10257 10512 10803 11326 2397 2460 646 646 0.79 0.86 0.86 0.91 23.04 23.04 23.04 21.89 5.20 11.56 19.44 14.45 35.35 BBB+ 30.11.2009 Baa1 09.04.2009
STANDARD LIFE PLC GBp 12846 1144 2358 3 0 1 15 1.33 28976 28976 30795 33325 - - - - 0.50 0.45 0.36 0.39 18.35 16.41 22.70 20.95 167.87 - - - - A- 25.02.2009 - -
SMITH & NEPHEW PLC GBp 10260 302 904 1 0 0 0 15.93 6248 6248 6656 6944 1888 1867 474 474 1.05 1.23 1.18 1.29 21.00 25.27 21.92 20.09 -4.70 3.46 5.25 8.76 45.12 - - - -
NEXT PLC GBp 10503 102 161 1 0 0 0 11.43 5358 5358 5573 5773 1181 1181 1211 1211 4.78 4.83 4.74 5.20 20.41 20.62 20.82 18.96 4.68 2.07 12.40 5.93 33.28 BBB 13.05.2003 Baa2 06.06.2003
KINGFISHER PLC GBp 10108 1689 2372 1 0 0 1 10.17 15969 15969 16653 17312 1494 1494 - - 0.37 0.36 0.36 0.40 17.67 17.17 17.75 15.90 -3.60 4.38 -6.15 15.77 14.13 BBB- 30.04.2008 Baa2 29.03.2012
ASSOCIATED BRITISH FOODS PLC GBp 22264 183 792 2 0 1 1 24.45 18505 18505 19777 20986 2368 2368 - - 1.22 1.06 1.45 1.61 39.98 34.69 29.32 26.46 16.20 19.36 31.70 20.41 19.33 - - - -
LAND SECURITIES GROUP PLC GBp 9567 760 783 5 0 0 0 14.37 1014 961 833 896 659 624 - - 1.02 0.52 0.54 0.58 35.65 35.65 34.48 31.96 -6.54 -21.71 -0.38 -10.59 98.16 - - - -
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] |
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 14392574 1935.593 1116 1116 204 220 220 101.42 110.55 110.55 15.42 15.42 14.14 14.14 18.80
Euro Stoxx 50 Pr EUR 2529002 5372.293 4595 4595 733 768 768 228.31 305.59 305.59 18.52 15.97 13.84 13.84 19.53
NIKKEI 225 JPY 2558234 186.6975 188 188 19 20 20 5.28 5.51 5.51 0.27 0.27 0.26 0.26 0.12
FTSE 100 INDEX GBP 2682024 11608.24 9587 9587 1446 1647 1647 530.70 818.94 818.94 27.31 - 17.70 17.70 22.54
SWISS MARKET INDEX CHF 1032475 10951.8 4099 4099 841 833 833 406.58 549.07 549.07 20.92 18.53 15.49 15.49 21.83
S&P/TSX COMPOSITE INDEX CAD 1677743 17146.39 7904 7904 1848 2081 2081 794.29 887.81 887.81 15.43 15.43 13.80 13.80 24.27
S&P/ASX 200 INDEX AUD 1414577 6699.644 2865 2865 604 702 702 251.37 341.05 341.05 21.63 17.51 15.94 15.94 22.29
HANG SENG INDEX HKD 1702834 3309.148 1659 1659 376 407 407 268.13 266.04 266.04 1.39 1.52 1.40 1.40 3.12
MSCI EM USD 7697940 1533.773 1085 1085 201 216 216 87.02 95.19 95.19 11.82 13.40 10.81 10.81 20.03
MARKS & SPENCER GROUP PLC GBp 9499 880 1606 3 0 0 1 12.63 15004 15034 15161 15735 1756 1722 1160 1160 0.43 0.46 0.49 0.52 19.18 21.37 18.17 17.02 3.01 3.56 -14.83 -3.94 17.30 BBB- 07.01.2009 - -
WM MORRISON SUPERMARKETS GBp 9622 1391 2532 4 0 0 0 12.92 27361 27361 27339 28159 1991 1991 - - 0.40 0.40 0.39 0.41 15.54 15.57 15.87 15.34 3.87 8.63 0.46 13.01 10.99 - - (P)A3 30.09.2011
BURBERRY GROUP PLC GBp 8914 356 439 0 0 0 1 8.59 2805 2885 2986 3439 707 535 - - 0.95 0.80 1.01 1.15 37.90 45.39 30.16 26.41 35.80 22.35 43.30 25.61 27.99 - - - -
ROYAL BANK OF SCOTLAND GROUP GBp 47811 12197 11171 478 0 4 164 #VALUE! 42687 40695 34431 31795 - - - - 0.12 -0.77 0.34 0.49 - 19.11 18.93 13.12 -26.39 - - - - A- 29.11.2011 Baa1 21.06.2012
CAPITA PLC GBp 8794 196 655 3 0 0 0 10.81 5062 5062 5723 6181 966 966 905 905 0.79 0.56 0.85 0.93 36.19 25.52 23.84 21.86 21.73 15.14 19.18 22.56 28.83 - - - -
INTERTEK GROUP PLC GBp 8149 84 161 1 0 0 0 9.02 3103 3103 3443 3738 573 573 690 690 1.77 1.63 2.29 2.59 46.82 43.25 33.36 29.49 26.32 32.07 28.26 30.39 27.89 NR 23.10.2006 - -
INTERCONTINENTAL HOTELS GROU GBp 7925 183 268 2 0 0 0 13.58 2771 2771 2926 3073 1069 1069 227 227 2.15 2.86 2.39 2.60 23.53 31.17 28.15 25.93 5.72 5.46 11.48 5.61 58.27 BBB 22.06.2011 WR 01.03.2005
SAINSBURY (J) PLC GBp 10698 1702 1883 4 0 0 1 14.06 33672 34377 35088 36402 1935 1912 985 985 0.40 0.50 0.45 0.47 17.25 20.05 19.07 18.10 8.53 8.50 7.55 9.95 8.40 NR 13.05.2010 WR 01.06.2006
RANDGOLD RESOURCES LTD GBp 7749 64 92 0 0 0 1 11.39 1990 1990 2426 3184 1056 1056 - - 7.10 7.09 8.30 12.12 27.05 27.05 23.12 15.83 25.56 68.71 34.30 80.56 80.13 - - - -
BRITISH LAND CO PLC GBp 8053 973 888 4 0 0 1 11.83 526 530 763 789 - - - - 0.82 0.44 0.45 0.47 27.86 27.59 27.21 26.42 16.89 -19.18 - - - - - - -
SMITHS GROUP PLC GBp 7302 261 393 2 0 0 0 8.60 4576 4679 4744 4938 911 926 539 539 1.24 1.20 1.43 1.52 23.27 22.58 19.62 18.49 10.00 9.80 1.19 9.49 29.91 BBB+ 15.01.2007 Baa2 06.05.2010
UNITED UTILITIES GROUP PLC GBp 7183 662 682 9 0 0 0 15.98 2364 2409 2483 2567 1359 1367 - - 0.71 0.72 0.59 0.63 22.13 21.50 27.08 25.38 5.15 -7.70 0.07 1.38 85.70 - - - -
WEIR GROUP PLC/THE GBp 7145 276 213 2 0 0 1 8.19 4 K 4 K 4 K 4 K 799 799 418 418 2.15 2.22 2.32 2.54 22.81 23.54 21.89 19.99 16.23 26.89 26.60 46.99 31.47 - - - -
ITV PLC GBp 7569 4350 3912 1 0 0 1 7.51 3317 3317 3485 3612 826 826 - - 0.10 0.10 0.15 0.16 28.17 28.90 19.54 18.25 3.95 -0.02 18.26 17.31 37.62 BB+ 30.03.2012 Ba1 21.03.2012
JOHNSON MATTHEY PLC GBp 6914 134 215 1 0 0 0 7.99 18159 16637 15546 12351 876 853 - - 2.25 2.25 2.20 2.33 22.68 22.76 23.17 21.85 30.83 13.87 17.32 17.58 7.74 - - - -
AGGREKO PLC GBp 7225 384 266 1 0 0 0 8.12 2391 2391 2470 2626 939 939 - - 1.52 1.57 1.43 1.56 25.83 26.70 28.32 26.12 20.24 28.20 27.15 33.66 59.30 - - - -
WHITBREAD PLC GBp 6724 95 178 1 0 0 0 7.53 2685 2877 3055 3395 706 739 347 347 2.00 2.40 2.24 2.52 23.60 27.54 25.24 22.44 16.84 16.66 14.22 13.25 38.78 - - - -
GKN PLC GBp 6518 1001 1632 2 0 1 0 8.37 9832 9832 11241 11789 1116 1116 - - 0.41 0.46 0.40 0.46 13.22 14.79 15.01 13.13 20.08 16.71 29.28 18.15 17.15 NR 19.04.2002 - -
BUNZL PLC GBp 6397 122 355 1 0 0 0 7.53 8094 8094 9001 9292 567 567 625 625 0.92 0.90 1.16 1.22 32.15 31.56 25.17 23.74 7.38 12.53 5.81 11.55 10.57 - - - -
RSA INSURANCE GROUP PLC GBp 6282 2924 3590 2 0 0 2 7.09 13354 13354 13456 14071 - - - - 0.14 0.14 0.19 0.20 18.42 18.57 13.97 13.43 1.85 9.73 - - - NR 13.08.1997 WR 10.03.1997
IMI PLC GBp 6288 135 322 0 0 0 0 6.55 3311 3311 3464 3607 632 632 322 322 1.13 1.10 1.32 1.44 27.02 26.27 22.48 20.57 4.03 10.08 -0.65 17.32 28.85 - - - -
REXAM PLC GBp 6239 472 878 3 0 0 2 7.61 6513 6513 6891 7130 1013 1013 530 530 0.50 0.46 0.62 0.67 26.04 23.90 19.20 17.69 2.86 4.75 -0.45 9.80 23.50 BBB- 19.02.2009 Baa3 26.09.2001
INTL CONSOLIDATED AIRLINE-DI GBp 7028 2474 1855 7 0 0 4 11.62 27363 27363 27955 29110 2101 2101 2527 2527 -0.39 -0.74 0.18 0.44 - - 37.03 15.45 18.89 - -11.44 - 11.60 - - - -
CARNIVAL PLC GBp 27520 260 776 14 0 0 1 55.02 23232 23250 23962 25258 5048 5149 799 799 2.85 2.86 3.09 4.02 27.05 26.58 25.02 19.28 -3.93 4.38 -16.65 -4.03 33.45 NR 16.04.2003 A3 03.02.2004
G4S PLC GBp 6145 984 1411 4 0 0 1 9.15 11329 11329 12377 13144 998 998 1085 1085 0.24 0.12 0.37 0.41 55.14 27.42 17.78 16.19 -0.42 14.81 4.71 16.52 13.31 BBB- 05.11.2012 - -
SAGE GROUP PLC/THE GBp 6039 824 1330 0 0 0 0 6.26 2024 2024 2094 2141 591 591 293 293 0.28 0.28 0.33 0.36 27.48 27.21 23.27 21.42 0.69 6.09 -1.38 7.53 44.09 - - - -
SEVERN TRENT PLC GBp 5969 95 238 7 0 0 0 12.27 2674 2722 2765 2834 1188 1174 - - 1.33 1.41 1.39 1.45 26.76 24.39 27.16 26.08 5.23 5.25 -1.11 4.09 65.16 BBB- 28.01.2010 Baa1 08.09.2009
ABERDEEN ASSET MGMT PLC GBp 7725 2150 1186 0 0 0 1 7.55 1313 1313 1529 1730 545 545 308 308 0.26 0.29 0.41 0.48 34.11 37.48 23.70 20.14 16.41 31.35 23.05 39.42 62.73 - - - -
BABCOCK INTL GROUP PLC GBp 5839 91 359 1 0 0 0 6.78 4637 4590 4877 5197 510 512 583 583 0.62 0.72 1.04 1.06 34.20 36.30 23.56 23.02 20.52 29.05 22.64 52.36 16.85 - - - -
TATE & LYLE PLC GBp 5768 301 466 1 0 0 1 6.43 4664 4801 4937 5255 665 574 - - 0.78 0.86 0.84 0.91 21.63 21.80 22.29 20.51 20.43 7.67 7.95 3.22 18.05 BBB 15.07.2011 Baa2 15.02.2013
MEGGITT PLC GBp 5716 407 785 1 0 0 0 6.69 2425 2425 2569 2714 742 742 - - 0.48 0.47 0.56 0.62 23.41 22.78 19.47 17.85 15.62 16.33 23.46 26.82 46.24 - - - -
RESOLUTION LTD GBp 5807 1773 1418 2 0 0 14 #VALUE! 16810 16810 2367 2655 - - - - -0.08 -0.08 0.38 0.42 - - 16.31 14.57 245.62 - - - - - - - -
PETROFAC LTD GBp 7439 155 340 1 0 0 1 10.71 9551 9551 10191 11071 1297 1297 757 757 2.64 2.81 3.04 3.44 17.48 18.57 16.16 14.25 13.62 27.47 18.79 35.53 20.52 - - - -
CRODA INTERNATIONAL PLC GBp 5728 53 140 0 0 0 0 6.04 1589 1589 1705 1815 433 433 109 109 1.96 1.96 2.08 2.27 31.48 31.48 29.70 27.20 3.51 5.85 9.71 31.34 41.14 - - - -
ANTOFAGASTA PLC GBp 15322 443 986 3 0 3 6 22.06 10180 10180 9985 9795 5821 5821 1395 1395 2.19 1.58 1.96 1.85 22.42 16.16 18.08 19.16 16.51 36.13 14.38 10.15 86.37 - - - -
HAMMERSON PLC GBp 5167 807 713 3 0 0 0 8.34 541 541 473 505 328 328 - - 0.19 0.19 0.33 0.36 57.52 57.52 33.40 30.45 -19.06 0.46 -20.11 -6.35 91.72 - - Baa2 12.01.2004
MELROSE INDUSTRIES PLC GBp 5035 1068 1267 2 0 0 0 6.55 2343 2343 3541 3721 353 353 - - 0.18 0.05 0.27 0.30 114.44 51.73 22.59 19.88 52.03 177.35 44.84 71.71 22.75 - - - -
AMEC PLC GBp 4757 223 308 0 0 0 0 4.61 6280 6280 6410 6827 548 548 - - 1.23 1.01 1.32 1.48 23.90 19.61 18.28 16.39 41.54 18.93 44.07 34.29 13.19 - - - -
WOOD GROUP (JOHN) PLC GBp 4887 340 373 0 0 0 0 7.63 10303 10303 11024 11607 772 772 - - 1.04 0.99 1.50 1.69 30.27 28.85 19.88 17.63 30.77 16.23 43.98 8.56 11.32 - - - -
SERCO GROUP PLC GBp 4684 239 498 1 0 0 0 5.56 7420 7420 7812 8251 580 580 597 597 0.61 0.75 0.66 0.73 18.81 23.20 21.55 19.49 8.67 18.29 10.16 23.39 11.81 - - - -
EASYJET PLC GBp 6273 351 396 1 0 0 1 6.39 5821 5730 6252 6661 660 660 - - 0.94 0.72 1.18 1.28 33.12 33.40 20.29 18.67 17.59 25.87 32.82 24.63 17.40 - - - -
ADMIRAL GROUP PLC GBp 5461 90 274 0 0 0 0 5.14 1487 1487 2352 2523 - - - - 1.43 1.44 1.46 1.54 20.96 21.01 20.62 19.51 19.78 33.05 - - - - - - -
SCHRODERS PLC GBp 8547 175 267 0 0 0 7 1.70 2153 2153 1930 2146 499 499 - - 1.43 1.58 1.82 2.10 30.01 33.27 26.12 22.66 -7.69 5.23 -27.90 -2.43 34.98 A 05.12.2002 - -
LONDON STOCK EXCHANGE GROUP GBp 5385 146 271 1 0 0 0 6.21 1218 1272 1271 1317 723 733 - - 1.52 2.92 1.42 1.36 10.26 20.16 21.08 22.12 31.58 27.57 35.54 27.12 87.01 A- *- 13.03.2012 Baa2 01.07.2011
FRESNILLO PLC GBp 14872 110 717 0 0 1 1 22.09 3258 3258 3642 4142 1964 1964 - - 1.55 1.55 1.63 1.92 30.51 30.51 28.95 24.68 -2.43 - -23.12 55.13 91.06 - - - -
HARGREAVES LANSDOWN PLC GBp 6139 123 474 0 0 0 0 5.91 361 402 436 497 231 263 142 142 0.36 0.42 0.47 0.54 46.32 46.55 42.02 36.16 22.40 29.60 31.29 44.91 98.78 - - - -
POLYMETAL INTERNATIONAL PLC GBp 4996 419 383 2 0 0 1 9.08 2003 2003 2789 3257 839 839 - - 1.11 1.19 2.01 2.55 24.92 26.68 14.80 11.66 65.46 - 55.51 - 63.26 - - - -
TUI TRAVEL PLC GBp 5393 3902 1118 1 0 0 1 5.59 21840 21840 22446 22997 1071 1071 - - 0.35 0.19 0.42 0.46 38.73 20.60 17.42 15.92 -2.33 - 5.29 -6.99 7.41 - - - -
VEDANTA RESOURCES PLC GBp 4129 276 297 26 0 21 10 42.62 21153 22511 22230 25899 6744 8029 1784 1784 1.58 1.13 2.19 3.63 31.41 18.69 16.13 9.77 34.08 26.50 42.16 16.07 53.87 - - Ba3 *- 21.03.2013
EVRAZ PLC GBp 4875 1425 1338 11 0 0 1 16.83 24770 23620 21718 22577 4220 3462 1367 1367 0.91 -2.31 0.12 0.19 - - 64.94 40.00 33.90 - 40.52 - 22.14 - - - -
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] |
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot
S&P 500 INDEX 2.17 2.17 1.99 1.81 2.17 1.40 1.40 1.34 1.28 1.40 10.02 10.02 9.72 9.51 10.02 8.80 8.80 8.13 7.62 8.80 14.14 14.14 12.67 11.44 14.14 2.20 2.20 2.36 2.56 2.20 1682.0 7.6%
Euro Stoxx 50 Pr 1.12 1.12 1.06 1.00 1.12 0.72 0.72 0.70 0.68 0.72 5.22 5.22 4.87 4.64 5.22 7.00 7.00 6.62 6.30 7.00 10.84 10.84 9.70 8.88 10.84 4.44 4.44 4.77 5.08 4.44 2896.5 11.7%
NIKKEI 225 1.51 1.51 1.41 1.32 1.51 0.71 0.71 0.66 0.65 0.71 9.49 9.49 8.15 7.62 9.49 9.50 9.50 8.28 7.76 9.50 24.08 24.08 18.86 14.60 24.08 1.65 1.65 1.65 1.93 1.65 11916.4 -4.6%
FTSE 100 INDEX 1.67 1.67 1.55 1.34 1.67 1.00 1.00 0.97 0.98 1.00 7.84 7.84 7.22 5.21 7.84 7.05 7.05 6.60 6.33 7.05 11.72 11.72 10.63 9.74 11.72 3.92 3.92 4.22 4.66 3.92 6826.8 7.5%
SWISS MARKET INDEX 2.37 2.37 2.20 2.03 2.37 1.98 1.98 1.88 1.80 1.98 12.18 12.18 11.13 9.77 12.18 13.15 13.15 12.16 11.37 13.15 14.77 14.77 13.22 12.00 14.77 3.34 3.34 3.70 4.21 3.34 8029.4 3.9%
S&P/TSX COMPOSITE INDEX 1.69 1.69 1.56 1.46 1.69 1.58 1.58 1.48 1.43 1.58 8.44 8.44 7.58 7.00 8.44 8.24 8.24 7.29 6.91 8.24 14.05 14.05 12.39 11.38 14.05 3.12 3.12 3.28 3.48 3.12 14554.2 14.5%
S&P/ASX 200 INDEX 1.90 1.90 1.79 1.69 1.90 1.82 1.82 1.71 1.62 1.82 11.19 11.19 9.99 9.12 11.19 9.54 9.54 8.40 7.80 9.54 15.28 15.28 13.60 12.48 15.28 4.35 4.35 4.66 5.03 4.35 5152.0 3.1%
HANG SENG INDEX 1.34 1.34 1.24 1.15 1.34 1.74 1.74 1.61 1.50 1.74 7.17 7.17 6.65 6.25 7.17 8.13 8.13 7.39 6.84 8.13 10.88 10.88 9.98 9.08 10.88 3.54 3.54 3.83 4.34 3.54 24942.6 11.0%
MSCI EM 1.44 1.44 1.31 1.21 1.44 0.95 0.95 0.88 0.84 0.95 6.89 6.89 6.34 5.94 6.89 7.09 7.09 6.50 6.11 7.09 10.81 10.81 9.72 9.01 10.81 3.07 3.07 3.57 6.08 3.07 1184.9 15.2%
HSBC HOLDINGS PLC 1.14 1.08 1.03 0.96 0.88 2.84 2.84 2.67 2.55 11.48 10.35 8.94 8.34 11.88 10.76 9.63 8.55 7.30 4.10 4.68 5.18 6.00 5.43 776.75 11.7%
VODAFONE GROUP PLC 1.08 1.19 1.15 1.13 1.12 1.94 2.02 1.98 1.96 1.95 7.16 6.87 6.62 6.30 7.64 7.68 8.46 8.40 8.27 8.18 11.75 11.98 11.18 10.54 9.96 7.36 5.67 5.78 5.89 6.11 191.96 4.7%
BP PLC 1.12 1.07 1.01 0.94 0.85 0.37 0.39 0.38 0.38 0.46 5.16 4.62 4.20 4.03 3.89 4.34 4.22 3.92 3.99 3.84 7.61 8.14 7.27 6.82 6.45 4.89 5.14 5.50 5.92 6.39 481.53 5.0%
ROYAL DUTCH SHELL PLC-A SHS 1.09 1.01 0.94 0.93 0.83 0.44 0.45 0.45 0.45 0.40 4.56 4.50 4.42 4.26 4.15 3.85 3.74 3.66 3.53 3.31 7.70 7.68 7.57 7.32 7.05 5.34 5.57 5.72 5.94 6.24 2516.79 17.9%
GLAXOSMITHKLINE PLC 10.51 12.28 10.92 8.91 6.89 2.81 2.77 2.67 2.55 2.45 12.72 10.87 9.97 9.09 8.10 9.16 9.34 8.87 8.52 8.04 13.71 13.22 11.96 10.98 10.19 4.88 5.13 5.42 5.84 6.14 1502.74 -1.1%
BRITISH AMERICAN TOBACCO PLC 8.24 8.85 8.33 8.34 8.05 4.39 4.19 4.01 3.85 3.63 14.96 13.80 12.93 11.65 10.04 12.51 11.47 10.75 10.06 9.54 16.97 15.16 13.86 12.66 11.39 3.84 4.32 4.72 5.16 5.71 3705.01 5.9%
ROYAL DUTCH SHELL PLC-B SHS 1.12 1.04 0.97 0.96 0.85 0.44 0.45 0.45 0.45 0.40 4.70 4.64 4.55 4.40 4.27 3.85 3.74 3.66 3.53 3.31 7.94 7.92 7.81 7.54 7.27 5.18 5.41 5.58 5.73 5.89 2463.93 12.0%
DIAGEO PLC 8.45 6.85 5.61 4.58 3.57 4.70 4.40 4.12 3.85 3.67 21.74 18.38 16.01 14.45 12.83 16.83 15.12 13.96 13.02 12.63 21.86 19.54 17.53 15.85 14.68 2.20 2.35 2.57 2.79 3.09 2064.79 2.6%
BHP BILLITON PLC 2.28 2.11 1.85 1.64 1.47 2.41 2.54 2.31 2.21 2.12 6.52 7.73 6.52 6.16 5.77 6.11 7.02 5.95 5.60 5.34 9.19 11.43 9.64 8.86 8.63 3.89 4.10 4.40 4.63 4.76 2279.16 17.6%
ASTRAZENECA PLC 2.61 2.47 2.34 2.21 1.99 2.18 2.32 2.38 2.43 2.50 7.91 7.70 8.29 7.97 8.03 5.78 6.40 6.59 6.67 6.97 7.89 8.98 9.32 9.38 9.68 5.99 5.75 5.79 5.80 5.61 3046.57 -5.9%
RIO TINTO PLC 1.66 1.48 1.29 1.15 0.96 1.82 1.59 1.49 1.45 1.40 7.57 5.29 4.99 4.46 4.46 6.79 5.59 5.09 4.88 4.63 9.46 7.86 6.91 6.90 6.63 3.33 3.79 4.19 4.50 4.26 4043.26 30.0%
BG GROUP PLC 1.72 1.57 1.41 1.24 1.29 2.55 2.86 2.51 2.02 1.60 7.09 7.40 6.24 5.27 5.19 6.14 6.36 5.33 4.26 4.28 12.42 12.85 10.83 8.51 6.65 1.53 1.63 1.78 2.03 2.28 1390.14 24.2%
BARCLAYS PLC 0.65 0.65 0.61 0.57 0.50 1.27 1.26 1.23 1.19 1.31 3.01 3.03 2.66 2.36 8.20 7.82 6.53 5.62 6.37 2.22 2.50 3.20 4.45 3.72 365.84 27.1%
STANDARD CHARTERED PLC 1.44 1.30 1.20 1.11 1.06 3.23 2.98 2.71 2.48 2.33 11.48 9.85 8.66 7.78 11.70 10.76 9.76 8.98 8.13 3.20 3.59 3.94 4.38 4.51 1900.72 12.1%
UNILEVER PLC 5.85 5.28 4.71 4.25 3.71 1.86 1.78 1.68 1.59 1.52 16.27 14.91 13.82 12.66 11.85 12.53 11.73 10.97 10.17 9.72 20.43 19.09 17.57 16.15 15.02 3.02 3.15 3.41 3.74 4.13 2785.50 2.0%
SABMILLER PLC 3.40 3.05 2.81 2.57 2.24 4.92 3.36 3.17 3.00 2.85 19.48 17.10 16.00 14.06 12.55 19.04 15.75 14.40 13.53 11.74 24.61 21.47 19.07 17.13 15.56 1.73 1.98 2.23 2.51 2.63 3283.07 -3.8%
RECKITT BENCKISER GROUP PLC 5.51 5.21 4.57 4.14 3.31 3.58 3.38 3.22 3.03 2.91 17.65 16.40 15.46 14.74 13.05 13.75 13.18 12.51 11.65 10.55 19.26 17.96 16.99 15.81 14.40 2.71 2.88 3.04 3.25 3.57 4410.93 -7.5%
TESCO PLC 1.69 1.62 1.53 1.45 0.46 0.46 0.44 0.42 0.40 8.04 7.88 7.29 6.82 7.24 7.72 7.32 6.88 9.87 11.44 11.91 11.27 10.51 9.93 4.02 3.92 4.10 4.42 4.74 388.11 3.4%
PRUDENTIAL PLC 2.75 2.39 2.13 2.11 1.59 0.54 0.47 0.45 15.20 13.20 11.92 10.94 2.52 2.86 3.06 3.34 3.51 1116.89 5.9%
NATIONAL GRID PLC 2.69 2.65 2.54 2.40 2.28 1.90 1.89 1.83 1.77 1.69 8.00 7.71 7.52 7.24 7.07 9.99 9.48 8.91 8.51 8.35 14.82 13.96 13.58 13.03 13.08 5.27 5.49 5.61 5.78 5.85 723.88 -2.9%
ANGLO AMERICAN PLC 0.81 0.80 0.76 0.74 1.29 1.06 1.01 0.97 0.86 6.19 4.65 4.35 4.03 6.27 5.06 4.64 4.45 5.68 13.56 11.24 9.25 8.38 15.14 2.90 3.28 3.48 3.99 5.42 2026.32 17.5%
IMPERIAL TOBACCO GROUP PLC 2.81 3.54 3.40 3.31 3.11 2.75 2.70 2.61 2.52 2.43 9.97 9.09 8.79 8.07 7.36 9.12 8.95 8.59 8.24 7.94 11.21 10.51 9.76 9.07 8.45 4.68 5.19 5.73 6.34 6.90 2637.15 18.0%
BT GROUP PLC 11.53 12.31 7.46 5.46 3.49 1.10 1.18 1.20 1.20 1.21 4.38 4.69 4.88 4.78 5.68 4.96 4.90 4.93 4.88 4.89 11.88 10.79 10.67 10.00 9.74 3.10 3.54 3.99 4.54 4.84 267.95 -1.1%
ROLLS-ROYCE HOLDINGS PLC 3.60 2.93 2.54 2.26 1.95 1.67 1.35 1.28 1.18 1.10 17.76 14.44 11.62 9.65 10.62 8.71 8.10 7.47 6.40 19.02 16.67 15.23 14.05 12.98 1.80 2.01 2.27 2.61 2.77 1055.28 -3.4%
LLOYDS BANKING GROUP PLC 0.76 0.78 0.73 0.69 0.63 1.86 1.88 1.88 1.86 12.15 8.84 7.15 6.15 20.26 12.47 8.68 7.48 5.72 0.00 0.41 2.06 4.11 3.29 53.63 10.3%
CENTRICA PLC 3.12 3.01 2.79 2.51 2.15 0.81 0.77 0.74 0.71 0.67 10.10 7.38 6.89 6.50 6.42 5.89 5.60 5.32 4.97 13.47 13.08 11.77 11.43 10.24 4.51 4.73 5.01 5.34 5.83 368.25 1.3%
XSTRATA PLC 1.03 0.98 0.92 0.95 1.60 1.44 1.35 1.20 7.13 6.99 6.05 5.10 8.67 6.86 6.02 4.84 14.03 13.11 10.44 7.41 2.45 2.71 3.02 3.69 1267.50 17.2%
COMPASS GROUP PLC 4.46 4.65 4.10 3.68 0.89 0.86 0.81 0.76 0.74 14.25 15.17 13.05 12.50 11.06 10.38 9.68 8.98 8.54 19.33 17.71 16.02 14.65 2.55 2.83 3.11 3.40 832.14 1.0%
SSE PLC 2.72 2.95 2.79 2.62 2.86 0.51 0.45 0.43 0.41 0.36 8.81 7.96 7.49 7.00 6.94 9.64 8.99 8.46 7.81 7.43 13.14 13.00 12.68 11.62 10.98 5.39 5.70 5.95 6.19 6.50 1435.85 -2.9%
WPP PLC 1.82 1.74 1.62 1.53 1.26 1.18 1.13 1.08 1.01 10.99 10.12 9.53 9.01 0.09 9.14 8.62 8.05 7.54 6.83 14.15 12.78 11.65 10.68 9.65 2.69 3.14 3.51 3.94 4.14 1125.65 9.0%
GLENCORE INTERNATIONAL PLC 1.19 1.07 0.95 0.87 0.19 0.18 0.17 0.16 0.21 10.31 8.22 6.73 5.98 13.12 10.22 8.15 7.61 11.70 9.12 7.33 6.26 11.28 2.73 3.12 3.82 4.23 434.00 21.0%
ARM HOLDINGS PLC 10.25 8.94 7.65 6.19 4.76 22.65 19.02 16.15 14.21 12.27 61.41 47.41 37.04 30.60 22.83 47.77 37.61 30.08 24.70 19.80 62.24 48.67 38.28 30.50 22.77 0.44 0.58 0.72 0.89 0.76 972.22 6.2%
BAE SYSTEMS PLC 2.66 2.78 2.58 2.62 2.53 0.66 0.64 0.65 0.65 0.63 9.62 13.45 9.50 8.04 5.18 5.05 5.15 5.24 5.07 9.77 9.07 9.23 8.76 7.91 5.05 5.31 5.42 5.73 5.81 356.00 -6.8%
EXPERIAN PLC 5.50 5.05 4.27 3.61 3.60 3.60 3.32 3.07 2.92 18.05 12.91 11.64 10.91 9.89 12.68 12.14 11.06 10.14 9.67 20.96 20.23 17.33 15.65 14.71 1.89 2.00 2.29 2.52 2.78 1209.23 8.0%
TULLOW OIL PLC 3.06 2.89 2.82 2.70 7.24 6.31 6.50 6.45 5.26 11.75 10.49 11.89 12.44 8.14 10.38 9.61 9.68 9.88 24.64 26.20 27.65 32.48 25.63 0.84 0.83 0.84 0.97 1.21 1419.92 13.1%
SHIRE PLC 4.03 3.46 2.61 2.14 1.90 3.54 3.28 3.06 2.90 2.82 12.04 10.61 9.71 8.93 9.25 9.89 9.13 8.11 7.57 7.58 14.73 13.25 11.72 10.53 10.24 0.58 0.66 0.78 0.88 0.91 2336.71 18.2%
CRH PLC 1.13 1.12 1.09 1.04 0.66 0.65 0.61 0.57 0.48 9.53 8.53 7.54 6.42 9.66 8.97 7.84 6.75 5.48 23.09 20.03 15.54 12.05 9.85 3.72 3.77 3.87 4.06 1365.52 -4.6%
LEGAL & GENERAL GROUP PLC 1.80 1.68 1.59 1.48 1.36 0.38 0.34 0.30 4.55 12.15 11.57 10.83 9.83 8.51 4.35 4.88 5.35 6.23 6.11 165.21 -2.9%
OLD MUTUAL PLC 1.16 1.09 1.04 1.04 0.98 3.65 12.33 9.66 9.05 8.48 11.48 10.00 9.13 8.00 7.28 3.24 4.03 4.48 5.18 5.43 203.99 1.5%
PEARSON PLC 1.53 1.59 1.52 1.46 1.53 1.52 1.53 1.49 1.27 11.49 11.64 10.62 9.76 10.02 10.22 9.41 8.34 7.33 13.73 14.22 12.69 11.25 10.20 3.85 4.10 4.31 4.65 1249.41 8.1%
REED ELSEVIER PLC 5.52 5.35 4.78 3.84 1.50 1.51 1.45 1.43 10.26 9.73 9.19 7.91 7.07 7.02 6.62 6.41 15.51 14.66 13.58 12.33 3.12 3.16 3.38 3.61 733.30 -5.4%
AVIVA PLC 0.84 0.81 0.75 0.75 0.71 0.13 0.20 0.21 6.38 6.76 6.22 5.65 4.93 8.58 6.62 6.83 6.25 6.59 389.10 31.5%
WOLSELEY PLC 2.49 2.94 2.62 2.33 1.94 0.66 0.65 0.61 0.57 0.55 17.46 18.67 13.37 11.93 7.99 12.13 11.30 9.70 8.64 7.65 19.38 17.54 14.65 12.71 10.91 1.80 2.14 2.58 2.98 3.30 3245.32 2.3%
BRITISH SKY BROADCASTING GRO 15.67 16.13 12.81 9.13 2.06 1.97 1.87 1.80 1.72 12.73 11.10 10.59 9.32 9.15 9.95 9.30 9.07 8.57 8.21 17.64 15.25 14.49 13.46 0.40 2.86 3.29 3.52 3.85 121.70 826.18 -5.0%
STANDARD LIFE PLC 2.03 1.99 1.89 1.77 1.64 0.43 0.42 0.39 0.34 12.06 15.03 13.87 11.94 11.41 4.08 4.35 4.57 4.85 5.32 334.56 -7.2%
SMITH & NEPHEW PLC 2.75 2.38 2.14 1.94 2.47 2.33 2.23 2.12 2.01 12.43 12.06 10.57 9.70 8.71 8.40 7.70 7.15 6.78 15.19 14.51 13.30 12.39 11.57 2.15 2.34 2.56 2.87 3.11 729.28 -2.8%
NEXT PLC 25.22 19.15 15.07 11.20 1.94 1.88 1.82 1.77 1.70 12.65 11.59 10.42 9.90 9.83 9.43 9.10 8.81 8.46 15.30 13.78 12.55 11.50 10.67 2.35 2.63 2.89 3.19 3.42 4196.95 -3.0%
KINGFISHER PLC 1.10 1.03 0.97 0.93 0.63 0.61 0.58 0.55 0.55 10.45 9.13 8.45 7.09 6.93 6.48 5.94 5.39 4.43 12.88 11.75 10.53 9.37 7.40 3.23 3.58 3.90 4.29 5.28 303.00 7.4%
ASSOCIATED BRITISH FOODS PLC 2.41 2.29 2.10 1.93 1.73 1.20 1.13 1.06 1.00 0.94 14.42 12.19 12.28 11.26 9.53 11.22 10.28 9.57 8.94 8.51 21.63 19.42 17.52 15.85 14.51 1.48 1.67 1.83 2.02 2.30 1757.78 -5.6%
LAND SECURITIES GROUP PLC 0.90 0.89 0.85 0.79 0.67 9.96 11.48 10.67 10.08 9.38 21.91 23.36 21.73 19.58 17.36 20.27 21.40 19.76 18.46 17.11 21.39 22.83 21.16 19.48 17.51 3.58 3.68 3.81 3.96 4.45 871.38 7.5%
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] |
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot
S&P 500 INDEX 2.17 2.17 1.99 1.81 2.17 1.40 1.40 1.34 1.28 1.40 10.02 10.02 9.72 9.51 10.02 8.80 8.80 8.13 7.62 8.80 14.14 14.14 12.67 11.44 14.14 2.20 2.20 2.36 2.56 2.20 1682.0 7.6%
Euro Stoxx 50 Pr 1.12 1.12 1.06 1.00 1.12 0.72 0.72 0.70 0.68 0.72 5.22 5.22 4.87 4.64 5.22 7.00 7.00 6.62 6.30 7.00 10.84 10.84 9.70 8.88 10.84 4.44 4.44 4.77 5.08 4.44 2896.5 11.7%
NIKKEI 225 1.51 1.51 1.41 1.32 1.51 0.71 0.71 0.66 0.65 0.71 9.49 9.49 8.15 7.62 9.49 9.50 9.50 8.28 7.76 9.50 24.08 24.08 18.86 14.60 24.08 1.65 1.65 1.65 1.93 1.65 11916.4 -4.6%
FTSE 100 INDEX 1.67 1.67 1.55 1.34 1.67 1.00 1.00 0.97 0.98 1.00 7.84 7.84 7.22 5.21 7.84 7.05 7.05 6.60 6.33 7.05 11.72 11.72 10.63 9.74 11.72 3.92 3.92 4.22 4.66 3.92 6826.8 7.5%
SWISS MARKET INDEX 2.37 2.37 2.20 2.03 2.37 1.98 1.98 1.88 1.80 1.98 12.18 12.18 11.13 9.77 12.18 13.15 13.15 12.16 11.37 13.15 14.77 14.77 13.22 12.00 14.77 3.34 3.34 3.70 4.21 3.34 8029.4 3.9%
S&P/TSX COMPOSITE INDEX 1.69 1.69 1.56 1.46 1.69 1.58 1.58 1.48 1.43 1.58 8.44 8.44 7.58 7.00 8.44 8.24 8.24 7.29 6.91 8.24 14.05 14.05 12.39 11.38 14.05 3.12 3.12 3.28 3.48 3.12 14554.2 14.5%
S&P/ASX 200 INDEX 1.90 1.90 1.79 1.69 1.90 1.82 1.82 1.71 1.62 1.82 11.19 11.19 9.99 9.12 11.19 9.54 9.54 8.40 7.80 9.54 15.28 15.28 13.60 12.48 15.28 4.35 4.35 4.66 5.03 4.35 5152.0 3.1%
HANG SENG INDEX 1.34 1.34 1.24 1.15 1.34 1.74 1.74 1.61 1.50 1.74 7.17 7.17 6.65 6.25 7.17 8.13 8.13 7.39 6.84 8.13 10.88 10.88 9.98 9.08 10.88 3.54 3.54 3.83 4.34 3.54 24942.6 11.0%
MSCI EM 1.44 1.44 1.31 1.21 1.44 0.95 0.95 0.88 0.84 0.95 6.89 6.89 6.34 5.94 6.89 7.09 7.09 6.50 6.11 7.09 10.81 10.81 9.72 9.01 10.81 3.07 3.07 3.57 6.08 3.07 1184.9 15.2%
MARKS & SPENCER GROUP PLC 2.13 2.45 2.33 2.14 1.82 0.63 0.63 0.60 0.58 0.56 6.56 6.87 6.42 5.84 5.48 6.44 6.44 6.06 5.65 5.55 11.64 12.03 11.27 10.37 9.46 4.36 4.34 4.57 4.95 5.23 387.71 -0.5%
WM MORRISON SUPERMARKETS 1.25 1.17 1.11 1.06 0.35 0.35 0.34 0.33 6.33 6.45 6.12 6.12 6.45 6.61 6.38 6.10 10.31 10.51 10.16 9.65 4.27 4.56 4.81 5.25 256.00 -6.6%
BURBERRY GROUP PLC 6.59 5.85 4.87 4.12 3.66 3.18 2.99 2.59 2.34 2.04 17.91 16.33 13.37 11.61 10.05 12.21 11.14 9.76 8.57 7.87 21.55 19.97 17.49 15.30 13.56 1.88 2.09 2.39 2.74 3.12 1484.90 11.2%
ROYAL BANK OF SCOTLAND GROUP 0.47 0.49 0.47 0.45 0.41 1.34 1.39 1.50 7.58 8.16 12.26 7.76 6.36 6.01 14.23 12.53 8.69 7.13 0.10 0.00 0.00 0.74 2.61 5.97 327.52 15.6%
CAPITA PLC 6.29 5.54 4.71 3.91 2.70 1.75 1.54 1.42 1.35 1.28 17.81 13.86 12.53 10.05 9.73 12.90 11.95 11.05 10.55 9.70 17.12 15.78 14.47 13.69 12.78 2.62 2.86 3.14 3.37 3.65 863.79 -2.8%
INTERTEK GROUP PLC 8.31 6.73 5.48 4.61 4.54 2.61 2.37 2.18 2.02 1.92 18.51 15.59 13.81 12.02 14.38 14.82 13.07 11.73 10.73 10.42 26.09 22.09 19.53 17.46 17.20 1.20 1.42 1.61 1.81 1.74 3653.28 8.9%
INTERCONTINENTAL HOTELS GROU 43.42 114.44 29.95 13.79 4.32 4.09 3.89 3.68 3.53 15.47 13.25 12.16 12.20 12.77 11.68 10.95 10.20 21.36 18.64 17.17 15.55 2.11 2.39 2.62 2.90 2051.17 4.9%
SAINSBURY (J) PLC 1.22 1.16 1.32 1.03 0.32 0.30 0.29 0.28 0.28 6.72 15.56 3.53 0.62 6.87 6.60 6.32 6.36 13.89 12.63 11.98 11.43 11.33 4.45 4.61 4.83 4.69 355.41 -5.2%
RANDGOLD RESOURCES LTD 3.01 2.49 2.02 1.73 5.79 4.82 3.68 3.57 3.84 12.78 9.89 7.21 7.07 10.68 8.41 5.96 6.03 6.58 17.63 15.31 10.48 10.57 8.45 0.62 0.64 0.86 0.88 7165.33 28.6%
BRITISH LAND CO PLC 0.94 0.94 0.89 0.81 0.70 9.47 10.55 10.20 9.67 9.04 18.70 18.77 17.96 16.53 14.30 16.23 18.75 18.09 16.30 13.53 18.45 18.02 17.49 16.33 14.61 4.83 4.90 5.01 5.20 5.48 608.64 12.6%
SMITHS GROUP PLC 3.21 3.92 3.37 2.91 1.62 1.54 1.48 1.41 1.39 15.58 13.70 12.40 10.01 9.31 8.74 8.26 7.78 13.45 12.99 12.24 11.30 3.07 3.24 3.44 3.67 1298.12 5.6%
UNITED UTILITIES GROUP PLC 2.89 2.56 2.43 2.32 2.44 3.03 2.89 2.80 2.70 2.69 8.77 8.15 7.36 6.75 7.22 11.45 10.98 10.49 10.00 10.45 18.95 17.93 16.81 15.43 16.57 4.59 4.93 5.18 5.42 5.22 731.92 4.9%
WEIR GROUP PLC/THE 3.78 3.25 2.85 2.42 1.82 1.80 1.70 1.61 1.53 16.33 13.02 11.35 11.15 10.23 9.77 8.99 8.44 7.82 15.08 14.49 13.23 12.23 11.51 1.66 1.85 2.02 2.25 3.15 2303.85 3.7%
ITV PLC 4.85 4.15 3.38 2.78 2.27 2.17 2.10 2.03 2.11 14.56 12.94 11.75 10.86 9.28 8.27 7.88 7.38 14.72 12.94 12.08 11.14 10.59 1.87 2.65 2.89 3.12 4.76 129.55 1.1%
JOHNSON MATTHEY PLC 3.05 3.01 2.69 2.41 0.40 0.44 0.56 0.54 0.71 12.05 12.20 11.31 9.20 9.19 9.73 9.32 8.83 15.25 15.34 14.47 13.08 2.40 2.58 2.79 3.10 2465.00 10.3%
AGGREKO PLC 4.40 3.76 3.16 2.86 2.56 3.01 2.92 2.75 2.53 2.31 14.72 11.49 10.03 7.72 7.23 8.60 8.47 7.94 7.40 6.91 17.48 18.75 17.29 15.83 14.66 1.33 1.44 1.62 17.86 2.29 2044.81 14.8%
WHITBREAD PLC 3.10 3.05 2.65 2.32 2.16 2.50 2.20 1.98 1.80 1.68 12.75 11.40 10.68 9.43 9.28 10.89 9.91 9.00 8.24 7.94 18.85 16.71 14.86 13.42 12.89 1.99 2.27 2.48 2.72 3.03 2641.76 6.4%
GKN PLC 3.08 2.59 1.87 1.69 0.67 0.58 0.55 0.53 0.54 11.25 10.17 7.87 5.65 7.49 6.39 5.71 5.31 11.01 9.94 8.69 8.18 2.69 3.03 3.41 3.82 288.92 9.3%
BUNZL PLC 4.82 4.37 3.87 3.34 0.79 0.71 0.69 0.66 17.21 15.18 14.23 12.96 13.30 12.05 11.50 11.00 18.19 16.67 15.72 14.79 2.18 2.41 2.56 2.72 1154.07 -9.5%
RSA INSURANCE GROUP PLC 1.08 1.05 1.00 0.97 0.48 0.47 0.45 0.43 1156.00 10.32 9.25 8.89 8.69 8.04 6.49 6.57 6.23 122.35 5.8%
IMI PLC 6.44 5.80 4.68 4.12 1.87 1.82 1.74 1.69 1.60 22.11 15.70 13.84 11.71 10.28 9.55 8.93 8.47 15.87 14.89 13.62 12.41 2.50 2.72 2.94 3.21 1316.13 1.4%
REXAM PLC 1.94 1.81 1.62 1.49 0.94 0.91 0.88 0.81 0.73 10.60 8.89 8.41 7.38 7.25 6.92 6.53 14.59 12.71 11.72 11.12 3.02 3.39 3.67 3.81 560.17 7.2%
INTL CONSOLIDATED AIRLINE-DI 1.07 1.09 1.04 0.97 0.31 0.30 0.29 0.27 0.27 7.08 5.26 3.64 2.81 7.34 4.60 3.64 3.04 2.96 24.52 10.23 6.79 7.06 0.00 0.07 0.27 1.62 258.22 3.0%
CARNIVAL PLC 1.10 1.08 1.03 0.98 1.79 1.73 1.65 1.55 1.48 9.15 8.92 7.34 6.66 10.96 10.32 8.98 8.11 7.77 18.20 16.56 12.76 10.80 10.25 3.19 3.44 3.52 3.87 2620.69 16.6%
G4S PLC 2.60 2.71 2.44 2.24 1.69 0.51 0.50 0.47 0.44 0.43 12.02 9.13 8.79 6.39 6.69 9.14 8.43 7.95 7.41 7.21 12.99 11.77 10.72 9.68 8.74 3.02 3.40 3.68 4.16 4.33 315.26 9.3%
SAGE GROUP PLC/THE 2.67 3.16 2.85 2.72 2.97 2.88 2.82 2.69 15.99 13.95 13.24 13.56 10.54 10.45 9.80 9.25 17.30 15.41 14.18 13.04 3.07 3.30 3.42 3.60 309.20 -8.8%
SEVERN TRENT PLC 3.39 4.29 4.05 3.86 4.04 2.24 2.16 2.11 2.06 2.18 7.84 7.87 7.51 7.09 7.23 10.12 9.82 9.53 9.36 9.61 19.46 17.98 17.27 16.88 18.06 4.23 4.57 4.85 5.14 5.27 1668.92 0.7%
ABERDEEN ASSET MGMT PLC 4.23 3.84 3.44 3.06 6.03 5.05 4.46 4.05 16.94 12.78 11.32 10.24 14.43 11.73 10.05 9.04 19.94 15.69 13.34 11.60 12.19 2.46 3.19 3.73 4.24 463.59 8.6%
BABCOCK INTL GROUP PLC 3.77 3.80 3.43 3.08 1.14 1.20 1.12 1.05 0.97 20.32 18.19 15.76 13.41 11.79 12.22 11.65 11.17 10.23 11.41 17.31 15.60 15.24 13.88 12.59 1.99 2.32 2.53 2.73 3.18 1109.15 3.4%
TATE & LYLE PLC 3.59 3.26 2.88 2.56 2.29 1.27 1.17 1.10 1.08 1.08 11.54 11.89 9.75 9.26 8.70 9.44 9.34 8.67 8.23 7.85 14.76 14.76 13.58 12.50 11.55 3.05 3.19 3.38 3.60 3.83 854.62 4.3%
MEGGITT PLC 1.95 1.76 1.60 1.60 1.50 2.36 2.22 2.11 2.00 2.00 15.02 13.24 11.24 9.60 9.52 8.85 8.30 7.82 7.40 14.01 12.89 11.82 11.06 11.99 2.36 2.61 2.84 3.22 3.59 497.00 3.1%
RESOLUTION LTD 0.70 0.72 0.73 2.39 2.45 2.19 12.32 10.80 9.65 9.22 8.75 7.75 7.82 7.93 7.78 7.78 266.33 -1.8%
PETROFAC LTD 5.07 3.74 3.01 2.36 1.16 1.10 1.01 0.92 0.92 13.93 9.25 7.81 6.80 6.50 7.69 6.61 5.65 4.84 4.45 11.64 10.70 9.43 8.36 7.97 2.96 3.23 3.65 4.06 5.21 1772.53 24.5%
CRODA INTERNATIONAL PLC 10.31 8.37 6.56 5.36 3.51 3.36 3.16 2.94 2.76 18.21 17.05 15.17 0.12 13.83 12.68 11.65 10.62 10.00 21.39 19.67 18.01 15.98 14.96 2.17 2.37 2.59 2.90 3.07 2570.19 -5.2%
ANTOFAGASTA PLC 2.13 1.98 1.82 1.69 2.31 2.32 2.36 2.37 2.53 6.31 6.51 7.05 7.05 5.69 3.90 4.30 4.42 4.59 4.92 11.36 11.97 12.69 13.25 14.04 3.75 3.25 2.81 2.68 2.61 1169.09 13.6%
HAMMERSON PLC 0.89 0.87 0.82 0.77 0.70 11.99 10.93 10.24 9.57 8.60 24.48 22.32 20.60 18.39 18.82 23.43 21.89 20.26 19.01 18.07 24.12 22.12 20.16 18.32 17.77 3.63 3.85 4.13 4.52 4.61 534.81 11.4%
MELROSE INDUSTRIES PLC 1.91 1.92 1.64 0.03 2.16 1.42 1.35 1.31 19.79 14.95 11.86 0.10 15.83 10.27 9.37 8.96 16.45 14.95 13.16 12.42 2.62 3.04 3.31 3.57 281.11 6.8%
AMEC PLC 2.68 2.57 2.29 2.07 0.77 0.74 0.70 0.66 0.73 12.68 10.75 10.09 8.51 9.07 8.31 7.50 6.89 13.64 12.10 10.85 10.02 3.16 3.71 4.17 4.50 1231.33 16.2%
WOOD GROUP (JOHN) PLC 2.21 1.98 1.76 1.51 0.72 0.67 0.64 0.60 15.12 11.13 10.21 9.63 10.04 8.57 7.73 7.32 15.48 13.16 11.67 10.58 1.33 1.57 1.77 1.99 918.09 5.9%
SERCO GROUP PLC 2.67 2.37 2.11 1.88 1.71 0.63 0.60 0.57 0.53 0.51 15.25 14.27 11.69 9.00 9.08 9.62 9.32 8.67 8.20 8.01 15.32 14.27 12.90 11.65 10.00 1.43 1.88 2.30 2.93 2.85 650.00 4.5%
EASYJET PLC 2.39 2.10 1.88 1.66 1.07 1.00 0.94 0.89 0.85 10.69 8.56 7.97 8.30 9.37 7.93 7.28 6.69 6.24 17.67 13.44 12.36 11.49 11.42 1.14 2.37 2.58 2.84 2.74 1006.41 -4.0%
ADMIRAL GROUP PLC 8.26 7.48 6.74 4.31 1.67 2.32 2.16 1.54 14.51 13.65 12.92 11.95 6.50 6.61 7.00 7.02 1182.64 -10.4%
SCHRODERS PLC 2.89 2.45 2.23 2.01 5.07 4.43 3.98 3.71 17.11 17.48 14.98 5.84 3.16 2.67 2.33 2.10 21.07 17.29 15.00 13.48 1.94 2.30 2.58 2.90 2216.05 6.4%
LONDON STOCK EXCHANGE GROUP 3.05 2.43 2.23 2.03 4.52 4.24 4.09 3.87 2.85 11.41 9.55 8.70 6.84 3.94 8.91 8.75 8.98 8.44 8.82 13.51 13.96 14.64 13.60 11.97 2.23 2.27 2.38 2.50 2.78 1297.33 -1.3%
FRESNILLO PLC 6.50 5.30 4.70 4.32 6.83 6.17 5.42 5.30 14.26 12.29 10.16 9.43 11.07 9.66 8.24 8.08 20.37 19.16 16.34 14.91 2.78 3.06 3.26 3.56 1779.08 29.6%
HARGREAVES LANSDOWN PLC 27.12 21.70 17.04 13.80 17.11 14.08 12.36 11.00 8.25 35.41 24.21 22.14 20.07 26.28 19.18 16.72 14.60 36.01 27.82 23.94 20.75 14.19 2.46 2.96 3.41 3.94 6.42 772.30 -9.9%
POLYMETAL INTERNATIONAL PLC 2.51 2.61 2.11 1.70 1.38 3.68 2.71 2.32 2.05 2.02 15.50 9.60 6.72 5.73 6.00 9.16 6.77 5.65 4.90 4.92 12.10 9.82 7.73 6.65 6.89 1.10 4.06 5.18 5.12 6.43 1198.37 39.1%
TUI TRAVEL PLC 1.82 2.09 1.91 1.73 0.24 0.24 0.23 0.23 0.23 9.86 8.52 7.41 6.17 5.57 5.06 4.79 4.58 4.35 13.31 11.53 10.54 9.86 7.87 3.69 3.94 4.26 4.57 5.60 299.31 -6.3%
VEDANTA RESOURCES PLC 0.86 0.91 0.83 0.76 0.79 0.30 0.28 0.24 0.22 0.22 1.87 1.27 1.06 0.92 7.12 5.75 4.85 4.49 5.01 11.57 10.68 6.45 5.20 13.03 3.25 3.63 4.01 4.25 1286.00 25.3%
EVRAZ PLC 0.68 0.82 0.80 0.77 0.63 0.30 0.34 0.33 0.31 0.29 2.50 2.90 3.09 2.59 2.38 3.76 5.55 5.13 4.45 3.67 5.88 42.99 26.48 12.04 7.42 11.39 2.99 2.51 2.60 5.47 352.64 60.9%
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] |
27.03.2013
HSBC Holdings plc is the holding company for the HSBC Group. The Company
provides a variety of international banking and financial services, including
retail and corporate banking, trade, trusteeship, securities, custody, capital
markets, treasury, private and investment banking, and insurance. The Group
operates worldwide.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (14.03.2013) 741.20
52-Week Low (30.05.2012) 501.20
Daily Volume
695.6
52-Week High % Change -6.27% Dividend Yield 4.29
52-Week Low % Change 38.61% Beta 1.09
% 52 Week Price Range High/Low 82.21% Equity Float 18'474.42
Shares Out 28.02.2013 18'484.5 Short Int -
128'578.19 1 Yr Total Return 28.91%
Total Debt 284'987.00 YTD Return 9.18%
Preferred Stock 2'728.0 Adjusted BETA 1.090
Minority Interest 7'887.0 Analyst Recs 44
Cash and Equivalents 256'366.00 Consensus Rating 4.045
Enterprise Value -
Average Volume 5 Day 27'755'540
HSBA LN EQUITY YTD Change - Average Volume 30 Day 22'664'280
HSBA LN EQUITY YTD % CHANGE - Average Volume 3 Month 20'333'180
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
126'036.0 97'533.0 91'171.0 94'799.0 84'663.0 4'756 4'856 68'487 72'602 - -
- - - - - 8.58x 7.73x 0.93x 0.41x - -
- - - - - 1'789.0 1'779.0 - - - -
- - - - - 5.83x 4.18x - - - -
5'728.0 5'834.0 13'159.0 16'797.0 14'027.0 1'085.0 1'149.0 18'363.5 20'694.4 - -
19.90x 31.93x 13.43x 8.03x 13.58x 13.25x 10.62x 10.76x 9.63x - -
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A+
Operating Margin 15.34% Long-Term Outlook NEG
Pretax Margin 31.46% Short-Term Rating Date 29.11.2011
Return on Assets 0.53% Short-Term Rating A-1
Return on Common Equity 8.37%
Return on Capital 3.38% EBITDA/Interest Exp. -
Asset Turnover 0.03% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 165.2%
Net Income Margin 21.4% Total Debt/Capital 60.9%
Asset Turnover 0.03
Current Ratio - Net Fixed Asset Turnover 7.49
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 10.58% Inventory Days -
Tot Debt to Common Equity 165.20% 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
HSBC Holdings PLCPrice/Volume
Valuation Analysis
7'287'944.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN n/a ULT-AGG 1'324'583'860 7.17 (13'049'021) 12.02.2013 Unclassified
BLACKROCK n/a ULT-AGG 1'110'172'768 6.01 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 681'507'879 3.69 2'537'898 01.02.2013 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 476'556'585 2.58 - 01.02.2013 Government
SCOTTISH WIDOWS n/a ULT-AGG 440'954'225 2.39 79'539'775 01.02.2013 Unclassified
FMR LLC n/a ULT-AGG 332'844'458 1.8 40'654'991 01.02.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 324'698'913 1.76 50'440'600 01.02.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 224'222'452 1.21 (2'646'000) 28.02.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 209'856'599 1.14 5'636'526 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 200'499'704 1.08 10'505'716 01.02.2013 Investment Advisor
DZ BANK AG Multiple Portfolios REG 199'869'719 1.08 - 01.02.2013 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 198'426'753 1.07 5'126'341 01.02.2013 Investment Advisor
ABERDEEN n/a ULT-AGG 193'573'011 1.05 27'428'625 28.02.2013 Unclassified
UBS n/a ULT-AGG 187'959'754 1.02 21'768'714 01.02.2013 Unclassified
SUN LIFE FINANCIAL I n/a ULT-AGG 181'870'790 0.98 2'568'947 01.02.2013 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 180'568'727 0.98 (14'593'182) 01.02.2013 Investment Advisor
STATE STREET n/a ULT-AGG 174'085'246 0.94 2'029'272 26.03.2013 Investment Advisor
HSBC INVESTMENTS UK Multiple Portfolios REG 141'993'045 0.77 (3'241'674) 01.02.2013 Investment Advisor
AVIVA INVESTORS Multiple Portfolios REG 127'868'417 0.69 19'292'369 01.02.2013 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 125'817'709 0.68 (3'893'625) 01.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie THOMAS STOEGNER outperform 5 M 800 12 month 26.03.2013
Mediobanca SpA CHRISTOPHER J WHEELER outperform 5 M 835 Not Provided 25.03.2013
Credit Suisse AMIT GOEL outperform 5 M 790 Not Provided 25.03.2013
Day by Day VALERIE GASTALDY hold 3 D #N/A N/A Not Provided 21.03.2013
AlphaValue DAVID GRINSZTAJN sell 1 M 610 6 month 21.03.2013
Investec IAN GORDON add 4 M 735 12 month 20.03.2013
Shore Capital Stockbrokers GARY GREENWOOD buy 5 U #N/A N/A Not Provided 19.03.2013
Sanford C. Bernstein & Co CHIRANTAN BARUA outperform 5 M 860 12 month 18.03.2013
Nomura CHINTAN JOSHI buy 5 M 900 12 month 18.03.2013
Exane BNP Paribas TOM RAYNER outperform 5 M 825 Not Provided 18.03.2013
BNP Paribas Equity Research DOMINIC CHAN buy 5 M 856 12 month 14.03.2013
Oriel Securities Ltd VIVEK RAJA buy 5 U 860 Not Provided 14.03.2013
Goldman Sachs FREDERIK THOMASEN Buy/Neutral 5 M 940 12 month 12.03.2013
Numis Securities Ltd MICHAEL J TRIPPITT hold 3 M 652 Not Provided 12.03.2013
Societe Generale JAMES INVINE buy 5 M 790 12 month 05.03.2013
Deutsche Bank JASON NAPIER buy 5 M 760 12 month 05.03.2013
Morgan Stanley CHRISTOPHER MANNERS Equalwt/In-Line 3 M 777 12 month 05.03.2013
RBC Capital Markets PATRICK LEE sector perform 3 M 700 12 month 05.03.2013
DBS Vickers ALEXANDER LEE buy 5 M 820 12 month 05.03.2013
Independent Research GmbH STEFAN BONGARDT hold 3 M 750 12 month 05.03.2013
Citic Securities Co., Ltd STEVEN CHAN buy 5 M 854 6 month 05.03.2013
BOCOM International Holdings LI SHANSHAN neutral 3 M 746 Not Provided 05.03.2013
Canaccord Genuity Corp GARETH HUNT buy 5 M 825 12 month 04.03.2013
S&P Capital IQ FRANK BRADEN buy 5 M 785 12 month 04.03.2013
CCB International Securities Ltd ADAM CHAN neutral 3 M 692 Not Provided 04.03.2013
JPMorgan RAUL SINHA overweight 5 M 755 9 month 26.02.2013
Keefe, Bruyette & Woods MARK J PHIN outperform 5 M 800 12 month 08.02.2013
Landesbank Baden-Wuerttemberg WERNER SCHIRMER hold 3 M 720 Not Provided 04.02.2013
Redburn Partners FAHED KUNWAR buy 5 M #N/A N/A Not Provided 31.01.2013
Espirito Santo Investment Bank ResearchSHAILESH RAIKUNDLIA buy 5 M 800 Not Provided 29.01.2013
Berenberg Bank JAMES CHAPPELL buy 5 M 680 Not Provided 28.01.2013
Barclays ROHITH CHANDRA-RAJAN overweight 5 M 730 Not Provided 22.01.2013
EVA Dimensions AUSTIN BURKETT sell 1 M #N/A N/A Not Provided 17.01.2013
Daniel Stewart & Co SIMON WILLIS hold 3 M 650 12 month 09.01.2013
Liberum Capital Ltd CORMAC LEECH buy 5 M 665 Not Provided 07.12.2012
JF Apex Securities Bhd TEAM COVERAGE neutral 3 N #N/A N/A Not Provided 06.12.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 676 Not Provided 06.12.2012
Mizuho Securities JIM ANTOS buy 5 U 709 12 month 19.11.2012
Grupo Santander ARTURO DE FRIAS hold 3 M 632 Not Provided 18.09.2012
China International Capital Corp SALLY NG accumulate 4 M 668 12 month 12.07.2012
Redburn Partners JON KIRK buy 5 N #N/A N/A Not Provided 27.01.2011
Holdings By:
HSBC Holdings PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Vodafone Group PLC is a mobile telecommunications company providing a range of
services, including voice and data communications. The Company operates in
Continental Europe, the United Kingdom, the United States, Asia Pacific, Africa
and the Middle East through its subsidiaries, associates, and investments.
Latest Fiscal Year: 03/2012
LTM as of: 03/yy
52-Week High (14.08.2012) 191.75
52-Week Low (31.12.2012) 154.20
Daily Volume
183.35
52-Week High % Change -4.12% Dividend Yield 5.30
52-Week Low % Change 19.23% Beta 0.68
% 52 Week Price Range High/Low 89.35% Equity Float 48'897.09
Shares Out 26.03.2013 48'922.9 Short Int -
89'700.14 1 Yr Total Return 11.93%
Total Debt 34'706.00 YTD Return 19.04%
Preferred Stock 0.0 Adjusted BETA 0.680
Minority Interest 1'267.0 Analyst Recs 33
Cash and Equivalents 8'461.00 Consensus Rating 3.939
Enterprise Value 111'754.14
Average Volume 5 Day 86'407'620
VOD LN EQUITY YTD Change - Average Volume 30 Day #########
VOD LN EQUITY YTD % CHANGE - Average Volume 3 Month #########
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 03/yy 03/yy 03/13 Y 03/14 Y 03/13 Q4 06/13 Q1
35'478.0 41'017.0 44'472.0 45'884.0 46'417.0 4'233.8 4'366.3 44'355.0 45'260.8 - -
2.93x 2.36x 2.54x 2.67x 2.43x 12.62x 13.72x 2.64x 2.57x - -
13'123.0 14'520.0 14'820.0 14'668.0 18'214.0 1'454.6 1'296.0 13'211.3 13'305.3 - -
7.93x 6.67x 7.62x 8.35x 6.20x 10.64x 13.77x 8.46x 8.40x - -
6'660.0 3'078.0 8'645.0 7'968.0 6'957.0 783.5 712.7 7'536.1 7'856.3 - -
12.01x 21.03x 9.25x 11.61x 12.54x 19.84x 28.25x 11.98x 11.18x - -
EBITDA 18'214.00 Long-Term Rating Date 30.05.2006
EBIT 10'355.00 Long-Term Rating A-
Operating Margin 22.31% Long-Term Outlook STABLE
Pretax Margin 20.57% Short-Term Rating Date 30.05.2006
Return on Assets -1.22% Short-Term Rating A-2
Return on Common Equity -2.22%
Return on Capital -3.81% EBITDA/Interest Exp. 9.43
Asset Turnover 0.32% (EBITDA-Capex)/Interest Exp. 6.96
Net Debt/EBITDA 1.51
Gross Margin 32.0% Total Debt/EBITDA 2.06
EBITDA Margin 31.1%
EBIT Margin 14.3% Total Debt/Equity 45.1%
Net Income Margin 15.0% Total Debt/Capital 30.7%
Asset Turnover 0.32
Current Ratio 0.83 Net Fixed Asset Turnover 2.41
Quick Ratio 0.51 Accounts receivable turnover-days 97.36
Debt to Assets 24.87% Inventory Days 6.89
Tot Debt to Common Equity 45.11% Accounts Payable Turnover Day -
Accounts Receivable Turnover 3.76 Cash Conversion Cycle -14.42
Inventory Turnover 53.11
Fiscal Year Ended
Vodafone Group PLCPrice/Volume
Valuation Analysis
38'651'308.00
Current Price (3/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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500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
4'000.0
4'500.0
5'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 3'213'888'547 6.57 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 1'840'749'892 3.76 (25'141'828) 03.12.2012 Unclassified
FRANKLIN RESOURCES n/a ULT-AGG 1'829'029'872 3.74 (28'812'480) 31.12.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 1'307'796'665 2.67 141'890'605 03.12.2012 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 1'168'679'699 2.39 (11'916'154) 03.12.2012 Government
FMR LLC n/a ULT-AGG 1'115'035'830 2.28 (52'316'656) 31.01.2013 Investment Advisor
UBS n/a ULT-AGG 905'655'588 1.85 105'084'426 31.01.2013 Unclassified
SUN LIFE FINANCIAL I n/a ULT-AGG 890'918'812 1.82 (52'366'577) 31.01.2013 Investment Advisor
ABERDEEN n/a ULT-AGG 835'280'974 1.71 19'552'525 28.02.2013 Unclassified
CAPITAL GROUP COMPAN n/a ULT-AGG 785'130'474 1.6 100'485'000 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 628'261'806 1.28 72'066'899 31.12.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 619'899'347 1.27 99'016'155 03.12.2012 Government
STANDARD LIFE INVEST Multiple Portfolios REG 526'399'681 1.08 (24'829'446) 03.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 517'367'935 1.06 44'104'574 03.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 514'956'230 1.05 (15'517'805) 26.03.2013 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 508'998'599 1.04 (96'292'120) 03.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 463'624'918 0.95 (60'869'430) 31.01.2013 Unclassified
DODGE & COX Multiple Portfolios REG 413'470'000 0.85 15'508'600 03.12.2012 Investment Advisor
DODGE & COX Multiple Portfolios MF-AGG 409'583'000 0.84 2'613'000 29.01.2013 Investment Advisor
AXA n/a ULT-AGG 402'114'002 0.82 (2'762'350) 31.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse JUSTIN FUNNELL outperform 5 M 180 Not Provided 27.03.2013
Grupo Santander JOHN DAVIES hold 3 M 200 Not Provided 26.03.2013
Goldman Sachs TIMOTHY BODDY Buy/Neutral 5 M 220 12 month 26.03.2013
Morgan Stanley NICK DELFAS Overwt/In-Line 5 M 205 12 month 25.03.2013
Jefferies JEREMY A DELLIS hold 3 M 174 12 month 25.03.2013
Oriel Securities Ltd JOHN KARIDIS buy 5 M 225 Not Provided 25.03.2013
Landesbank Baden-Wuerttemberg RALPH SZYMCZAK hold 3 U 172 Not Provided 22.03.2013
AlphaValue JEAN-MICHEL SALVADOR add 4 M 215 6 month 21.03.2013
Societe Generale OTTAVIO ADORISIO sell 1 M 100 12 month 15.03.2013
Sanford C. Bernstein & Co ROBIN BIENENSTOCK underperform 1 M 135 12 month 15.03.2013
Espirito Santo Investment Bank ResearchNICK BROWN buy 5 M 200 Not Provided 13.03.2013
Barclays MAURICE PATRICK overweight 5 M 210 Not Provided 12.03.2013
Macquarie GUY R PEDDY outperform 5 M 205 12 month 11.03.2013
New Street Research JAMES RATZER buy 5 M 250 Not Provided 11.03.2013
Exane BNP Paribas ANTOINE PRADAYROL underperform 1 M 178 Not Provided 08.03.2013
Berenberg Bank PAUL ANDREW MARSCH hold 3 M 185 Not Provided 06.03.2013
Nomura JAMES BRITTON neutral 3 M 195 12 month 06.03.2013
JPMorgan AKHIL DATTANI overweight 5 M 220 12 month 26.02.2013
Oddo & Cie VINCENT MAULAY buy 5 M 200 Not Provided 14.02.2013
Banca Akros(ESN) ANDREA DEVITA hold 3 M 184 12 month 14.02.2013
Hamburger Sparkasse TINA HECKING-VELTMAN hold 3 M #N/A N/A Not Provided 11.02.2013
Deutsche Bank DAVID A WRIGHT hold 3 M 173 12 month 08.02.2013
Independent Research GmbH MARKUS FRIEBEL sell 1 M 150 12 month 07.02.2013
S&P Capital IQ JAMES CRAWSHAW buy 5 M 190 12 month 07.02.2013
Day by Day VALERIE GASTALDY buy 5 M 188 3 month 28.01.2013
Liberum Capital Ltd LAWRENCE SUGARMAN buy 5 M 210 Not Provided 18.01.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 17.01.2013
HSBC STEPHEN HOWARD overweight 5 M 205 Not Provided 07.12.2012
Natixis BENOIT MAYNARD neutral 3 M 190 Not Provided 02.10.2012
DZ Bank AG JOERI SELS buy 5 M 190 12 month 08.11.2011
Northland Capital Partners Ltd DAVID JOHNSON not rated #N/A N/A M #N/A N/A Not Provided 13.04.2010
Holdings By:
Vodafone Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
BP plc is an oil and petrochemicals company. The Company explores for and
produces oil and natural gas, refines, markets, and supplies petroleum
products, generates solar energy, and manufactures and markets chemicals. BP's
chemicals include terephthalic acid, acetic acid, acrylonitrile, ethylene and
polyethylene.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (27.03.2012) 484.45
52-Week Low (18.05.2012) 389.50
Daily Volume
458.75
52-Week High % Change -5.28% Dividend Yield 4.91
52-Week Low % Change 17.80% Beta 1.04
% 52 Week Price Range High/Low 77.36% Equity Float 19'158.33
Shares Out 26.03.2013 19'161.2 Short Int -
87'902.01 1 Yr Total Return 2.31%
Total Debt 48'797.00 YTD Return 9.44%
Preferred Stock 0.0 Adjusted BETA 1.044
Minority Interest 1'206.0 Analyst Recs 38
Cash and Equivalents 20'114.00 Consensus Rating 3.579
Enterprise Value 162'651.80
Average Volume 5 Day 29'512'860
BP/ LN EQUITY YTD Change - Average Volume 30 Day 25'806'140
BP/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 23'933'670
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
361'143.0 239'272.0 297'107.0 375'517.0 375'580.0 1'158.5 1'373.9 343'710.7 352'783.7 84'754.3 84'530.7
0.47x 0.87x 0.53x 0.44x 0.43x 14.93x 16.10x 0.46x 0.45x 1.82x 1.78x
41'761.0 33'392.0 38'497.0 45'796.0 20'442.0 463.4 519.1 38'524.8 41'496.8 9'276.0 9'646.5
4.05x 6.24x 4.06x 3.63x 7.92x 9.71x 11.90x 4.22x 3.92x 3.97x 3.73x
21'157.0 16'578.0 (3'719.0) 25'700.0 11'582.0 200.9 204.0 16'230.9 18'510.6 3'897.7 4'034.0
6.81x 10.95x - 5.25x 11.34x 30.45x 35.57x 8.14x 7.27x 8.37x 7.74x
EBITDA 20'442.00 Long-Term Rating Date 24.09.2010
EBIT 7'961.00 Long-Term Rating A
Operating Margin 2.12% Long-Term Outlook POS
Pretax Margin 5.01% Short-Term Rating Date 24.09.2010
Return on Assets 3.90% Short-Term Rating A-1
Return on Common Equity 10.08%
Return on Capital 7.70% EBITDA/Interest Exp. 13.60
Asset Turnover 1.25% (EBITDA-Capex)/Interest Exp. -1.75
Net Debt/EBITDA 1.30
Gross Margin 11.6% Total Debt/EBITDA 2.21
EBITDA Margin 5.9%
EBIT Margin 2.4% Total Debt/Equity 41.2%
Net Income Margin 3.1% Total Debt/Capital 29.0%
Asset Turnover 1.25
Current Ratio 1.37 Net Fixed Asset Turnover 3.09
Quick Ratio 0.59 Accounts receivable turnover-days 26.60
Debt to Assets 16.26% Inventory Days 30.00
Tot Debt to Common Equity 41.21% Accounts Payable Turnover Day 33.14
Accounts Receivable Turnover 13.76 Cash Conversion Cycle 23.17
Inventory Turnover 12.20
Fiscal Year Ended
BP PLCPrice/Volume
Valuation Analysis
4'461'841.00
Current Price (3/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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2 ! F
3 ! F
4 ! F
0.0
200.0
400.0
600.0
800.0
1'000.0
1'200.0
1'400.0
1'600.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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2 !!
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 1'027'123'894 5.36 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 715'298'081 3.73 19'032'430 01.11.2012 Unclassified
CAPITAL GROUP COMPAN n/a ULT-AGG 609'649'091 3.18 - 31.12.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 507'765'071 2.65 44'846'385 30.11.2012 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 432'628'420 2.26 4'845'711 01.11.2012 Government
FRANKLIN RESOURCES n/a ULT-AGG 369'828'759 1.93 21'912'486 31.12.2012 Investment Advisor
UBS n/a ULT-AGG 354'793'433 1.85 10'873'302 31.01.2013 Unclassified
KUWAIT INVESTMENT AU Multiple Portfolios REG 328'143'792 1.71 - 01.11.2012 Government
M&G INVESTMENT MANAG Multiple Portfolios REG 321'514'948 1.68 (277'008) 01.11.2012 Investment Advisor
FMR LLC n/a ULT-AGG 303'860'650 1.59 (1'973'558) 31.01.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 258'130'496 1.35 - 01.11.2012 Government
STANDARD LIFE INVEST Multiple Portfolios REG 241'527'129 1.26 (10'962'271) 01.11.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 204'110'697 1.07 5'646'262 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 195'306'957 1.02 7'261'934 01.11.2012 Investment Advisor
STATE STREET n/a ULT-AGG 193'700'712 1.01 (698'478) 26.03.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 178'132'910 0.93 12'878'131 31.01.2013 Investment Advisor
AVIVA INVESTORS Multiple Portfolios REG 166'069'621 0.87 (5'019'297) 01.11.2012 Investment Advisor
AXA n/a ULT-AGG 150'610'225 0.79 (592'855) 31.01.2013 Investment Advisor
GOVT OF SINGAPORE IN n/a ULT-AGG 147'434'500 0.77 (6'919'062) 01.11.2012 Government
HSBC INVESTMENTS UK Multiple Portfolios REG 139'991'616 0.73 6'546'014 01.11.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Grupo Santander JASON KENNEY hold 3 M 530 12 month 25.03.2013
Independent Research GmbH SVEN DIERMEIER buy 5 M 540 12 month 25.03.2013
Raymond James BERTRAND HODEE market perform 3 M #N/A N/A Not Provided 22.03.2013
Canaccord Genuity Corp GORDON GRAY hold 3 M 500 12 month 22.03.2013
Oriel Securities Ltd RICHARD GRIFFITH hold 3 M #N/A N/A Not Provided 22.03.2013
Exane BNP Paribas ALEJANDRO DEMICHELIS outperform 5 M 575 Not Provided 22.03.2013
AlphaValue ALEXANDRE ANDLAUER reduce 2 U 425 6 month 21.03.2013
EVA Dimensions CRAIG STERLING hold 3 D #N/A N/A Not Provided 21.03.2013
Goldman Sachs MICHELE DELLA VIGNA neutral/cautious 3 M 490 12 month 20.03.2013
Sanford C. Bernstein & Co OSWALD CLINT market perform 3 M 510 12 month 13.03.2013
Deutsche Bank LUCAS HERRMANN buy 5 M 520 12 month 11.03.2013
Landesbank Baden-Wuerttemberg JENS MUENSTERMANN buy 5 M 520 Not Provided 11.03.2013
Liberum Capital Ltd ANDREW WHITTOCK hold 3 M 445 Not Provided 11.03.2013
Societe Generale IRENE HIMONA hold 3 M 500 12 month 08.03.2013
VTB Capital COLIN SMITH hold 3 M 490 12 month 01.03.2013
Morgan Stanley MARTIJN P RATS Underwt/In-Line 1 M 442 12 month 27.02.2013
VSA Capital Ltd DOUGIE YOUNGSON sell 1 D 400 12 month 25.02.2013
Macquarie JASON D GAMMEL outperform 5 M 550 12 month 22.02.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 20.02.2013
RBC Capital Markets PETER HUTTON sector perform 3 M 530 12 month 19.02.2013
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 15.02.2013
HSBC PAUL SPEDDING overweight 5 M 550 Not Provided 08.02.2013
Credit Suisse KIM FUSTIER neutral 3 M 475 Not Provided 06.02.2013
Jefferies IAIN REID hold 3 M 450 12 month 06.02.2013
Ahorro Corporacion Financiera SA VIRGINIA PEREZ REPES hold 3 M 6 12 month 06.02.2013
Natixis ANNE PUMIR neutral 3 M 490 Not Provided 06.02.2013
Nomura THEEPAN JOTHILINGAM neutral 3 M 455 12 month 06.02.2013
Barclays RAHIM KARIM underweight 1 M 480 Not Provided 06.02.2013
Investec STUART JOYNER buy 5 M 495 12 month 05.02.2013
S&P Capital IQ CHRISTINE TISCARENO hold 3 M 595 12 month 05.02.2013
JPMorgan FREDERICK G LUCAS overweight 5 M 525 3 month 19.12.2012
Tudor Pickering & Co ROBERT KESSLER accumulate 4 M 500 Not Provided 15.10.2012
Jyske Bank ROBERT JAKOBSEN buy 5 M 520 Not Provided 19.09.2012
CA Cheuvreux DOMINIQUE PATRY outperform 5 M 500 Not Provided 10.08.2012
Kepler Capital Markets TEAM COVERAGE buy 5 M 602 Not Provided 16.04.2012
Holdings By:
BP PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Royal Dutch Shell PLC, through subsidiaries, explores for, produces, and
refines petroleum. The Company produces fuels, chemicals, and lubricants.
Shell owns and operates gasoline filling stations worldwide.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (30.01.2013) 2'323.50
52-Week Low (18.05.2012) 1'956.50
Daily Volume
2134
52-Week High % Change -8.18% Dividend Yield 5.34
52-Week Low % Change 9.05% Beta 1.03
% 52 Week Price Range High/Low 54.63% Equity Float 3'770.78
Shares Out 26.03.2013 3'772.4 Short Int -
137'718.83 1 Yr Total Return 1.03%
Total Debt 37'754.00 YTD Return 1.89%
Preferred Stock 0.0 Adjusted BETA 1.030
Minority Interest 1'433.0 Analyst Recs 31
Cash and Equivalents 18'550.00 Consensus Rating 3.742
Enterprise Value 228'640.63
Average Volume 5 Day 2'639'057
RDSA LN EQUITY YTD Change - Average Volume 30 Day 3'382'676
RDSA LN EQUITY YTD % CHANGE - Average Volume 3 Month 3'002'002
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
458'361.0 278'188.0 368'056.0 470'171.0 467'153.0 783.4 1'134.1 458'011.3 465'699.7 110'420.5 113'829.0
0.37x 0.76x 0.65x 0.55x 0.51x 52.66x 65.98x 0.51x 0.50x 2.04x 1.98x
57'301.0 29'079.0 41'839.0 55'943.0 52'114.0 261.9 424.0 61'207.0 62'495.8 10'357.0 10'835.0
2.98x 7.28x 5.69x 4.60x 4.58x 48.58x 41.06x 3.74x 3.66x 5.12x 5.03x
26'277.0 12'518.0 20'127.0 30'918.0 26'592.0 175.3 254.8 26'655.6 27'485.2 6'859.0 7'011.0
6.16x 14.87x 10.16x 7.39x 8.12x 82.66x 70.48x 7.68x 7.57x 7.59x 7.57x
EBITDA 52'114.00 Long-Term Rating Date 03.09.2009
EBIT 37'499.00 Long-Term Rating AA
Operating Margin 8.03% Long-Term Outlook STABLE
Pretax Margin 10.76% Short-Term Rating Date 06.03.1990
Return on Assets 7.54% Short-Term Rating A-1+
Return on Common Equity 14.86%
Return on Capital 12.75% EBITDA/Interest Exp. 22.42
Asset Turnover 1.32% (EBITDA-Capex)/Interest Exp. 8.41
Net Debt/EBITDA 0.37
Gross Margin 15.2% Total Debt/EBITDA 0.72
EBITDA Margin 11.2%
EBIT Margin 8.0% Total Debt/Equity 20.0%
Net Income Margin 5.7% Total Debt/Capital 16.6%
Asset Turnover 1.32
Current Ratio 1.18 Net Fixed Asset Turnover 2.88
Quick Ratio 0.61 Accounts receivable turnover-days 34.68
Debt to Assets 10.48% Inventory Days 27.61
Tot Debt to Common Equity 20.03% Accounts Payable Turnover Day 40.16
Accounts Receivable Turnover 10.56 Cash Conversion Cycle 22.13
Inventory Turnover 13.25
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
Royal Dutch Shell PLCPrice/Volume
Valuation Analysis
749'232.00
Current Price (3/dd/yy) Market Data
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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 190'130'247 5.04 13'987'593 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 148'916'543 3.95 2'525'344 01.01.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 77'887'769 2.06 16'866'612 01.01.2013 Unclassified
FMR LLC n/a ULT-AGG 52'066'121 1.38 9'274'558 31.01.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 50'156'944 1.33 3'594'333 01.01.2013 Government
SUN LIFE FINANCIAL I n/a ULT-AGG 47'208'897 1.25 2'242'231 31.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 41'114'969 1.09 1'675'222 31.12.2012 Investment Advisor
GOVT OF SINGAPORE IN n/a ULT-AGG 39'669'849 1.05 1'602'657 01.01.2013 Government
UBS n/a ULT-AGG 38'832'374 1.03 (1'443'858) 31.01.2013 Unclassified
VANGUARD GROUP INC Multiple Portfolios REG 34'834'706 0.92 5'779'775 01.01.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 26'147'686 0.69 188'418 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 25'767'455 0.68 (1'313'970) 26.03.2013 Investment Advisor
BP INVESTMENT MANAGE Multiple Portfolios REG 22'400'138 0.59 288'938 01.01.2013 Investment Advisor
ABERDEEN n/a ULT-AGG 19'530'183 0.52 161'883 28.02.2013 Unclassified
JP MORGAN n/a ULT-AGG 19'189'183 0.51 5'377'967 31.01.2013 Unclassified
BNP PARIBAS INV PART n/a ULT-AGG 16'493'284 0.44 (4'117'735) 31.01.2013 Investment Advisor
NORTHERN TRUST GLOBA Multiple Portfolios REG 16'292'959 0.43 35'052 01.01.2013 Investment Advisor
SOCIETE GENERALE PRO Multiple Portfolios REG 16'129'705 0.43 12'387'795 01.01.2013 Unclassified
STANDARD LIFE INVEST Multiple Portfolios REG 14'890'316 0.39 (803'892) 01.01.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 12'949'057 0.34 2'215'390 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse KIM FUSTIER outperform 5 M 2'525 Not Provided 26.03.2013
Raymond James BERTRAND HODEE market perform 3 M #N/A N/A Not Provided 26.03.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 25.03.2013
Sanford C. Bernstein & Co OSWALD CLINT market perform 3 M 2'410 12 month 22.03.2013
Jefferies IAIN REID buy 5 M 2'450 12 month 21.03.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 21.03.2013
AlphaValue ALEXANDRE ANDLAUER reduce 2 M 2'114 6 month 21.03.2013
JPMorgan FREDERICK G LUCAS underweight 1 D 2'400 9 month 15.03.2013
ING Bank QUIRIJN MULDER buy 5 M 2'843 12 month 28.02.2013
Tudor Pickering & Co ROBERT KESSLER buy 5 M 2'800 Not Provided 27.02.2013
Canaccord Genuity Corp GORDON GRAY buy 5 M 2'650 12 month 21.02.2013
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 15.02.2013
Macquarie JASON D GAMMEL outperform 5 M 2'500 12 month 13.02.2013
CA Cheuvreux DOMINIQUE PATRY outperform 5 D 2'431 Not Provided 05.02.2013
Hamburger Sparkasse INGO SCHMIDT buy 5 M #N/A N/A Not Provided 04.02.2013
Investec STUART JOYNER hold 3 M 2'168 12 month 01.02.2013
HSBC PAUL SPEDDING neutral 3 M 2'520 Not Provided 01.02.2013
Independent Research GmbH SVEN DIERMEIER hold 3 M 2'433 12 month 01.02.2013
Barclays RAHIM KARIM equalweight 3 M 2'550 Not Provided 01.02.2013
Oriel Securities Ltd RICHARD GRIFFITH buy 5 M #N/A N/A Not Provided 31.01.2013
Ahorro Corporacion Financiera SA VIRGINIA PEREZ REPES hold 3 M 2'567 Not Provided 29.01.2013
RBC Capital Markets PETER HUTTON sector perform 3 M 2'580 12 month 24.01.2013
Landesbank Baden-Wuerttemberg JENS MUENSTERMANN buy 5 M 2'580 Not Provided 09.01.2013
VSA Capital Ltd DOUGIE YOUNGSON not rated #N/A N/A M #N/A N/A Not Provided 04.12.2012
Deutsche Bank LUCAS HERRMANN hold 3 D 2'475 12 month 03.12.2012
Theodoor Gilissen Securities JOS VERSTEEG buy 5 M 2'722 Not Provided 02.10.2012
VTB Capital COLIN SMITH hold 3 N 2'500 12 month 27.09.2012
Kepler Capital Markets TEAM COVERAGE hold 3 M 2'272 Not Provided 18.05.2012
Morgan Stanley MARTIJN P RATS not rated #N/A N/A M #N/A N/A Not Provided 03.05.2012
S&P Capital IQ CHRISTINE TISCARENO hold 3 D 2'315 12 month 03.10.2011
Holdings By:
Royal Dutch Shell PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
GlaxoSmithKline PLC is a research-based pharmaceutical company. The Company
develops, manufactures, and markets vaccines, prescription, and over-the-counter
medicines, as well as health-related consumer products. GlaxoSmithKline
provides products for infections, depression, skin conditions, asthma, heart &
circulatory disease, and cancer.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (22.03.2013) 1'539.50
52-Week Low (19.11.2012) 1'314.00
Daily Volume
1520
52-Week High % Change -1.33% Dividend Yield 4.87
52-Week Low % Change 15.60% Beta 0.66
% 52 Week Price Range High/Low 86.03% Equity Float 4'637.64
Shares Out 26.03.2013 4'909.5 Short Int -
74'623.91 1 Yr Total Return 12.41%
Total Debt 18'302.00 YTD Return 15.47%
Preferred Stock 0.0 Adjusted BETA 0.664
Minority Interest 937.0 Analyst Recs 36
Cash and Equivalents 4'265.00 Consensus Rating 3.361
Enterprise Value 89'597.90
Average Volume 5 Day 7'702'526
GSK LN EQUITY YTD Change - Average Volume 30 Day 6'841'365
GSK LN EQUITY YTD % CHANGE - Average Volume 3 Month 6'725'407
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
24'352.0 28'368.0 28'392.0 27'387.0 26'431.0 2'064.5 1'783.0 26'931.9 27'974.3 6'353.6 6'529.0
3.17x 2.77x 2.61x 3.07x 3.04x 19.46x 19.71x 3.31x 3.15x - -
9'115.0 11'117.0 6'932.0 9'845.0 8'477.0 881.1 628.1 9'594.4 10'101.6 2'241.0 2'467.0
8.47x 7.08x 10.70x 8.54x 9.49x 10.23x 13.49x 9.34x 8.87x 9.15x -
4'602.0 5'531.0 1'634.0 5'261.0 4'565.0 770.7 556.8 5'555.5 5'997.1 1'263.3 1'367.5
14.50x 12.09x 38.59x 14.06x 14.36x 15.79x 20.11x 13.22x 11.96x 13.19x -
EBITDA 8'477.00 Long-Term Rating Date 18.02.2008
EBIT 7'392.00 Long-Term Rating A+
Operating Margin 27.97% Long-Term Outlook STABLE
Pretax Margin 25.32% Short-Term Rating Date 18.02.2008
Return on Assets 11.06% Short-Term Rating A-1
Return on Common Equity 65.96%
Return on Capital 21.91% EBITDA/Interest Exp. 10.49
Asset Turnover 0.64% (EBITDA-Capex)/Interest Exp. 9.19
Net Debt/EBITDA 1.66
Gross Margin 70.1% Total Debt/EBITDA 2.16
EBITDA Margin 32.1%
EBIT Margin 28.0% Total Debt/Equity 315.0%
Net Income Margin 17.3% Total Debt/Capital 73.1%
Asset Turnover 0.64
Current Ratio 0.99 Net Fixed Asset Turnover 3.02
Quick Ratio 0.31 Accounts receivable turnover-days -
Debt to Assets 44.13% Inventory Days 181.79
Tot Debt to Common Equity 315.01% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 137.13
Inventory Turnover 2.01
Fiscal Year Ended
GlaxoSmithKline PLCPrice/Volume
Valuation Analysis
2'447'132.00
Current Price (3/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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500.0
1'000.0
1'500.0
2'000.0
2'500.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 271'061'000 5.52 - 25.03.2013 Investment Advisor
INVESCO LTD Multiple Portfolios REG 188'613'112 3.84 9'906'677 01.01.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 153'140'293 3.12 - 28.02.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 143'097'310 2.91 24'341'047 01.01.2013 Unclassified
CAPITAL GROUP COMPAN n/a ULT-AGG 137'148'963 2.79 30'057'500 01.01.2013 Investment Advisor
FMR LLC n/a ULT-AGG 134'440'074 2.74 13'668'350 31.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 115'229'583 2.35 21'497 01.01.2013 Government
FRANKLIN RESOURCES n/a ULT-AGG 88'648'845 1.81 (2'215'605) 28.02.2013 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 85'255'473 1.74 (1'180'943) 01.01.2013 Investment Advisor
UBS n/a ULT-AGG 72'136'226 1.47 (1'728'888) 31.01.2013 Unclassified
NEWTON INV MGMT Multiple Portfolios REG 71'507'300 1.46 9'684'880 01.01.2013 Mutual Fund Manager
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 60'081'894 1.22 385'845 26.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 55'750'486 1.14 (188'352) 31.12.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 53'010'281 1.08 (9'956'056) 01.01.2013 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios REG 52'720'290 1.07 (5'398'021) 01.01.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 51'503'238 1.05 - 01.01.2013 Government
PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 51'301'508 1.04 73'324 31.07.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 49'644'084 1.01 1'468'137 01.01.2013 Investment Advisor
AXA n/a ULT-AGG 44'610'398 0.91 (43'379) 31.01.2013 Investment Advisor
STATE STREET n/a ULT-AGG 43'934'496 0.89 497'126 26.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Shore Capital Stockbrokers BRIAN WHITE buy 5 M #N/A N/A Not Provided 25.03.2013
AlphaValue ARMELLE MOULIN reduce 2 M 1'461 6 month 21.03.2013
JPMorgan JAMES D GORDON underweight 1 M 1'550 15 month 15.03.2013
Jefferies JEFFREY HOLFORD hold 3 M 1'550 12 month 14.03.2013
Sanford C. Bernstein & Co TIMOTHY M ANDERSON market perform 3 M 1'497 12 month 14.03.2013
EVA Dimensions ANDREW S ZAMFOTIS overweight 5 U #N/A N/A Not Provided 12.03.2013
Deutsche Bank MARK CLARK hold 3 M 1'530 12 month 11.03.2013
Credit Suisse KERRY HOLFORD neutral 3 M 1'450 Not Provided 11.03.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 11.03.2013
Berenberg Bank ALISTAIR CAMPBELL buy 5 M 1'530 Not Provided 07.03.2013
Panmure Gordon & Co Limited SAVVAS NEOPHYTOU buy 5 M 1'525 Not Provided 06.03.2013
Bryan Garnier & Cie ERIC LE BERRIGAUD neutral 3 M 1'580 6 month 05.03.2013
Societe Generale STEPHEN MCGARRY buy 5 M 1'810 12 month 01.03.2013
Exane BNP Paribas FLORENT CESPEDES underperform 1 M 1'400 Not Provided 26.02.2013
Barclays MARK PURCELL overweight 5 M 1'610 Not Provided 26.02.2013
Leerink Swann & Co SEAMUS FERNANDEZ market perform 3 M #N/A N/A Not Provided 20.02.2013
Kepler Capital Markets FABIAN WENNER buy 5 M 1'680 Not Provided 13.02.2013
Independent Research GmbH CHRISTOPH SCHOENDUBE hold 3 M 1'560 12 month 08.02.2013
Helvea ODILE RUNDQUIST neutral 3 M 1'520 Not Provided 07.02.2013
Morgan Stanley PETER VERDULT Equalwt/Attractive 3 M 1'370 12 month 06.02.2013
Hamburger Sparkasse MARCO GUENTHER hold 3 M #N/A N/A Not Provided 06.02.2013
S&P Capital IQ SHO MATSUBARA sell 1 M 1'200 12 month 06.02.2013
Nomura AMIT ROY neutral 3 M 1'340 12 month 04.02.2013
Goldman Sachs KEYUR PAREKH neutral/neutral 3 M 1'415 12 month 28.01.2013
Cenkos Securities Ltd NAVID MALIK buy 5 N 1'603 12 month 30.11.2012
Redburn Partners TEAM COVERAGE neutral 3 M #N/A N/A Not Provided 26.11.2012
Liberum Capital Ltd NARESH CHOUHAN underweight 1 M 1'380 Not Provided 05.10.2012
CA Cheuvreux MARCEL BRAND underperform 1 M 1'250 Not Provided 11.09.2012
Natixis PHILIPPE LANONE neutral 3 M 1'450 Not Provided 06.09.2012
Landesbank Baden-Wuerttemberg TIMO KUERSCHNER hold 3 M 1'450 Not Provided 03.08.2012
Main First Bank AG TIM FRANKLIN suspended coverage #N/A N/A M #N/A N/A Not Provided 20.07.2012
Cyrrus TOMAS MENCIK hold 3 M 1'420 Not Provided 05.04.2012
Mirabaud Securities NICHOLAS TURNER buy 5 M 1'640 Not Provided 02.04.2012
MP Advisors Pvt Ltd VISHAL MANCHANDA outperform 5 M #N/A N/A Not Provided 13.01.2012
DZ Bank AG ELMAR KRAUS buy 5 U 1'500 12 month 28.10.2011
First Global Stockbroking KAVITA THOMAS market perform 3 R #N/A N/A Not Provided 23.08.2011
Holdings By:
GlaxoSmithKline PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
British American Tobacco PLC is the holding company for a group of companies
that manufacture, market and sell cigarettes and other tobacco products,
including cigars and roll-your-own tobacco.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (11.03.2013) 3'631.00
52-Week Low (24.05.2012) 2'986.50
Daily Volume
3497
52-Week High % Change -3.76% Dividend Yield 3.86
52-Week Low % Change 17.01% Beta 0.72
% 52 Week Price Range High/Low 79.05% Equity Float 1'925.34
Shares Out 22.03.2013 1'927.0 Short Int -
67'388.16 1 Yr Total Return 13.50%
Total Debt 10'719.00 YTD Return 14.94%
Preferred Stock 0.0 Adjusted BETA 0.723
Minority Interest 307.0 Analyst Recs 28
Cash and Equivalents 2'107.00 Consensus Rating 3.964
Enterprise Value 76'307.16
Average Volume 5 Day 2'338'294
BATS LN EQUITY YTD Change - Average Volume 30 Day 2'547'987
BATS LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'499'984
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
12'122.0 14'208.0 14'883.0 15'399.0 15'190.0 48'077.0 61'093.0 16'093.4 16'803.5 - -
3.84x 3.52x 3.90x 4.56x 4.73x 6.86x 6.68x 4.75x 4.53x - -
3'978.0 5'091.0 5'881.0 6'316.0 6'143.0 1'945.0 2'834.0 6'653.4 7'098.9 - -
11.69x 9.82x 9.88x 11.12x 11.71x 36.75x 38.09x 11.47x 10.75x - -
2'457.0 2'713.0 2'879.0 3'095.0 3'841.0 632.0 (40.0) 4'410.9 4'743.7 - -
14.60x 14.72x 16.97x 19.45x 15.69x 126.35x 696.86x 15.16x 13.86x - -
EBITDA 6'143.00 Long-Term Rating Date 09.11.2012
EBIT 5'668.00 Long-Term Rating A-
Operating Margin 37.31% Long-Term Outlook STABLE
Pretax Margin 37.18% Short-Term Rating Date 16.05.2003
Return on Assets 14.11% Short-Term Rating A-2
Return on Common Equity 49.12%
Return on Capital 24.11% EBITDA/Interest Exp. 12.16
Asset Turnover 0.56% (EBITDA-Capex)/Interest Exp. 10.85
Net Debt/EBITDA 1.40
Gross Margin - Total Debt/EBITDA 1.74
EBITDA Margin 40.4%
EBIT Margin 37.3% Total Debt/Equity 143.5%
Net Income Margin 25.3% Total Debt/Capital 57.9%
Asset Turnover 0.56
Current Ratio 1.13 Net Fixed Asset Turnover 4.86
Quick Ratio 0.52 Accounts receivable turnover-days 47.40
Debt to Assets 39.22% Inventory Days -
Tot Debt to Common Equity 143.46% Accounts Payable Turnover Day -
Accounts Receivable Turnover 7.70 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
British American Tobacco PLCPrice/Volume
Valuation Analysis
584'954.00
Current Price (3/dd/yy) Market Data
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50'000.0
60'000.0
70'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 132'891'526 6.9 - 25.03.2013 Investment Advisor
REINET INVESTMENTS S Multiple Portfolios REG 81'313'066 4.22 (3'000'000) 03.12.2012 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 70'617'321 3.66 (2'766'594) 03.12.2012 Unclassified
CAPITAL GROUP COMPAN n/a ULT-AGG 67'664'399 3.51 - 31.12.2012 Investment Advisor
INVESCO LTD Multiple Portfolios REG 62'241'180 3.23 1'948'246 03.12.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 51'036'377 2.65 3'856'239 03.12.2012 Unclassified
FMR LLC n/a ULT-AGG 44'677'384 2.32 (4'619'821) 31.01.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 44'654'616 2.32 (2'144'127) 31.12.2012 Investment Advisor
CREDIT SUISSE PRIVAT Multiple Portfolios REG 37'965'898 1.97 (376'548) 03.12.2012 Bank
ABERDEEN n/a ULT-AGG 35'672'165 1.85 1'305'019 28.02.2013 Unclassified
MORGAN STANLEY INVES Multiple Portfolios REG 26'280'778 1.36 5'499'279 03.12.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 24'636'075 1.28 (427'111) 03.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 24'361'035 1.26 562'275 31.12.2012 Investment Advisor
UBS n/a ULT-AGG 23'128'725 1.2 (1'102'251) 31.01.2013 Unclassified
MORGAN STANLEY n/a ULT-AGG 22'521'571 1.17 1'491'898 31.12.2012 Investment Advisor
Northern Cross Inter Multiple Portfolios REG 22'218'678 1.15 245'915 03.12.2012 Unclassified
VANGUARD GROUP INC Multiple Portfolios REG 21'639'256 1.12 1'824'714 03.12.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 20'358'179 1.06 260'794 31.12.2012 Investment Advisor
ALLAN GRAY UNIT TRUS Multiple Portfolios MF-AGG 17'404'651 0.9 892'088 31.12.2012 Investment Advisor
NEWTON INV MGMT Multiple Portfolios REG 16'928'208 0.88 (202'468) 03.12.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
AlphaValue ISABELLE COMBEMALE add 4 M 3'801 6 month 21.03.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 18.03.2013
Deutsche Bank JONATHAN FELL buy 5 M 3'700 12 month 13.03.2013
Investec THANE DUFF hold 3 M 3'577 Not Provided 13.03.2013
Nomura DAVID HAYES buy 5 M 4'087 Not Provided 13.03.2013
Oriel Securities Ltd CHRIS WICKHAM hold 3 M 3'700 Not Provided 13.03.2013
Jefferies DIRK VAN VLAANDEREN buy 5 M 4'000 12 month 08.03.2013
Goldman Sachs FULVIO CAZZOL buy/attractive 5 M 4'420 12 month 07.03.2013
Panmure Gordon & Co Limited DAMIAN MCNEELA buy 5 M 3'900 Not Provided 06.03.2013
Avior Research RICHARD TESSENDORF neutral 3 M 3'761 Not Provided 06.03.2013
Canaccord Genuity Corp EDDY HARGREAVES hold 3 M 3'100 12 month 05.03.2013
Independent Research GmbH LARS LUSEBRINK hold 3 M 3'600 12 month 04.03.2013
Redburn Partners CHRISTIAN DE ROUALLE neutral 3 M #N/A N/A Not Provided 04.03.2013
Societe Generale CHAS MANSO DE ZUNIGA hold 3 M 3'550 12 month 01.03.2013
Morgan Stanley MATTHEW GRAINGER Equalwt/Attractive 3 N 3'450 12 month 01.03.2013
Natixis NICOLAS LANGLET neutral 3 M 3'600 Not Provided 01.03.2013
Exane BNP Paribas JAMES BUSHNELL outperform 5 M 3'800 Not Provided 01.03.2013
Barclays SIMON HALES overweight 5 M 3'725 Not Provided 01.03.2013
Credit Suisse ROGERIO FUJIMORI outperform 5 M 3'600 Not Provided 28.02.2013
JPMorgan RAE MAILE overweight 5 M 4'209 9 month 28.02.2013
Renaissance Capital REY WIUM hold 3 D 3'550 Not Provided 28.02.2013
Berenberg Bank ERIK BLOOMQUIST buy 5 M 3'500 Not Provided 28.02.2013
S&P Capital IQ CARL SHORT hold 3 M 3'540 12 month 28.02.2013
EVA Dimensions AUSTIN BURKETT overweight 5 M #N/A N/A Not Provided 17.01.2013
Afrifocus Securities TANUJA CHITRE hold 3 M #N/A N/A Not Provided 18.04.2012
Imara RICHARD CLARKE sell 1 N #N/A N/A Not Provided 17.05.2011
Holdings By:
British American Tobacco PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Royal Dutch Shell PLC, through subsidiaries, explores for, produces, and
refines petroleum. The Company produces fuels, chemicals, and lubricants.
Shell owns and operates gasoline filling stations worldwide.
Latest Fiscal Year: 12/2011
LTM as of: 12/yy
52-Week High (30.01.2013) 2'374.50
52-Week Low (18.05.2012) 2'020.00
Daily Volume
2200
52-Week High % Change -7.37% Dividend Yield 5.18
52-Week Low % Change 8.89% Beta 1.01
% 52 Week Price Range High/Low 56.42% Equity Float 2'599.25
Shares Out 26.03.2013 2'600.7 Short Int -
137'718.83 1 Yr Total Return 3.25%
Total Debt 37'754.00 YTD Return 2.46%
Preferred Stock 0.0 Adjusted BETA 1.006
Minority Interest 1'433.0 Analyst Recs 19
Cash and Equivalents 18'550.00 Consensus Rating 3.105
Enterprise Value 228'633.75
Average Volume 5 Day 4'486'656
RDSB LN EQUITY YTD Change - Average Volume 30 Day 4'445'420
RDSB LN EQUITY YTD % CHANGE - Average Volume 3 Month 3'719'687
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
458'361.0 278'188.0 368'056.0 470'171.0 467'153.0 15'582.0 17'265.0 458'011.3 465'699.7 110'420.5 113'829.0
0.37x 0.76x 0.65x 0.55x 0.51x 12.25x 14.29x 0.51x 0.50x 2.04x 1.98x
57'301.0 29'079.0 41'839.0 55'943.0 52'114.0 5'372.0 6'665.0 61'207.0 62'495.8 10'357.0 10'835.0
2.98x 7.28x 5.69x 4.60x 4.58x 9.66x 10.15x 3.74x 3.66x 5.12x 5.03x
26'277.0 12'518.0 20'127.0 30'918.0 26'592.0 3'683.0 4'345.0 26'655.6 27'485.2 6'859.0 7'011.0
6.16x 14.87x 10.16x 7.39x 8.12x 13.02x 14.46x 7.92x 7.81x 7.82x 7.80x
EBITDA 52'114.00 Long-Term Rating Date 03.09.2009
EBIT 37'499.00 Long-Term Rating AA
Operating Margin 8.03% Long-Term Outlook STABLE
Pretax Margin 10.76% Short-Term Rating Date 06.03.1990
Return on Assets 7.54% Short-Term Rating A-1+
Return on Common Equity 14.86%
Return on Capital 12.75% EBITDA/Interest Exp. 22.42
Asset Turnover 1.32% (EBITDA-Capex)/Interest Exp. 8.41
Net Debt/EBITDA 0.37
Gross Margin 15.2% Total Debt/EBITDA 0.72
EBITDA Margin 11.2%
EBIT Margin 8.0% Total Debt/Equity 20.0%
Net Income Margin 5.7% Total Debt/Capital 16.6%
Asset Turnover 1.32
Current Ratio 1.18 Net Fixed Asset Turnover 2.88
Quick Ratio 0.61 Accounts receivable turnover-days 34.68
Debt to Assets 10.48% Inventory Days 27.61
Tot Debt to Common Equity 20.03% Accounts Payable Turnover Day 40.16
Accounts Receivable Turnover 10.56 Cash Conversion Cycle 22.13
Inventory Turnover 13.25
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
Royal Dutch Shell PLCPrice/Volume
Valuation Analysis
1'592'459.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 176'509'095 6.79 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 92'965'731 3.57 (2'451'432) 01.01.2013 Unclassified
CAPITAL GROUP COMPAN n/a ULT-AGG 91'962'723 3.54 - 08.03.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 84'449'282 3.25 10'540'709 01.01.2013 Unclassified
CREDIT SUISSE PRIVAT Multiple Portfolios REG 74'947'205 2.88 (526'247) 01.01.2013 Bank
M&G INVESTMENT MANAG Multiple Portfolios REG 49'588'750 1.91 (2'440'260) 01.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 48'224'986 1.85 1'120'225 31.12.2012 Investment Advisor
QATAR INVESTMENT AUT Multiple Portfolios REG 44'703'170 1.72 1'669'724 01.01.2013 Government
PEOPLES REPUBLIC OF Multiple Portfolios REG 39'898'819 1.53 3'975'234 01.01.2013 Government
UBS n/a ULT-AGG 37'871'476 1.46 932'195 31.01.2013 Unclassified
FRANKLIN RESOURCES n/a ULT-AGG 35'090'143 1.35 (3'039'278) 28.02.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 34'738'840 1.34 1'176'245 01.01.2013 Investment Advisor
AXA n/a ULT-AGG 33'594'566 1.29 (185'589) 01.01.2013 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 33'060'303 1.27 (2'304'800) 01.01.2013 Investment Advisor
ABERDEEN n/a ULT-AGG 31'402'252 1.21 (766'521) 28.02.2013 Unclassified
FMR LLC n/a ULT-AGG 28'774'373 1.11 (1'060'121) 31.01.2013 Investment Advisor
BREWIN DOLPHIN LIMIT Multiple Portfolios REG 27'392'377 1.05 (626'439) 01.01.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 25'480'564 0.98 4'342'844 31.01.2013 Unclassified
STATE STREET n/a ULT-AGG 23'787'695 0.91 2'600'938 26.03.2013 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 21'990'967 0.85 1'154'509 01.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co OSWALD CLINT market perform 3 M 2'410 12 month 22.03.2013
Grupo Santander JASON KENNEY underweight 1 M 2'409 Not Provided 20.03.2013
Goldman Sachs MICHELE DELLA VIGNA Sell/Cautious 1 M 2'280 12 month 20.03.2013
Exane BNP Paribas ALEJANDRO DEMICHELIS underperform 1 M 2'350 Not Provided 18.03.2013
JPMorgan FREDERICK G LUCAS underweight 1 D 2'400 9 month 15.03.2013
Liberum Capital Ltd ANDREW WHITTOCK hold 3 M 2'310 Not Provided 14.03.2013
VTB Capital COLIN SMITH hold 3 M 2'500 12 month 01.03.2013
Societe Generale IRENE HIMONA buy 5 M 2'700 12 month 27.02.2013
Morgan Stanley MARTIJN P RATS Overwt/In-Line 5 M 2'500 12 month 27.02.2013
Nomura THEEPAN JOTHILINGAM buy 5 M 2'500 12 month 27.02.2013
Canaccord Genuity Corp GORDON GRAY buy 5 M 2'650 12 month 21.02.2013
RBC Capital Markets PETER HUTTON sector perform 3 M 2'580 12 month 19.02.2013
HSBC PAUL SPEDDING neutral 3 M 2'450 Not Provided 01.02.2013
Natixis ANNE PUMIR buy 5 M 2'600 Not Provided 01.02.2013
Barclays RAHIM KARIM equalweight 3 M 2'550 Not Provided 01.02.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 17.01.2013
VSA Capital Ltd DOUGIE YOUNGSON not rated #N/A N/A M #N/A N/A Not Provided 04.12.2012
Deutsche Bank LUCAS HERRMANN hold 3 D 2'475 12 month 03.12.2012
Holdings By:
Royal Dutch Shell PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Diageo plc produces, distills and markets alcoholic beverages. The Company
offers a wide range of branded beverages, including vodkas, whiskeys, tequilas,
gins, and beer.
Latest Fiscal Year: 06/2012
LTM as of: 02/yy
52-Week High (20.03.2013) 2'054.00
52-Week Low (23.05.2012) 1'475.00
Daily Volume
2013
52-Week High % Change -2.14% Dividend Yield 2.24
52-Week Low % Change 36.27% Beta 0.71
% 52 Week Price Range High/Low 94.99% Equity Float 2'506.64
Shares Out 28.02.2013 2'509.4 Short Int -
50'514.86 1 Yr Total Return 34.54%
Total Debt 8'629.00 YTD Return 13.53%
Preferred Stock 0.0 Adjusted BETA 0.707
Minority Interest 1'223.0 Analyst Recs 35
Cash and Equivalents 1'076.00 Consensus Rating 4.286
Enterprise Value 59'369.85
Average Volume 5 Day 4'597'891
DGE LN EQUITY YTD Change - Average Volume 30 Day 3'961'409
DGE LN EQUITY YTD % CHANGE - Average Volume 3 Month 3'834'203
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 02/yy 02/yy 06/13 Y 06/14 Y - -
8'090.0 9'311.0 9'780.0 9'936.0 10'762.0 - - 11'472.6 12'267.9 - -
3.78x 3.27x 3.57x 3.98x 4.68x - - 5.15x 4.73x - -
2'516.0 2'777.0 2'984.0 3'232.0 3'826.0 - - 3'926.4 4'252.3 - -
12.17x 10.96x 11.70x 12.24x 13.16x - - 15.12x 13.96x - -
1'521.0 1'605.0 1'629.0 1'900.0 1'942.0 - - 2'578.3 2'854.1 - -
15.85x 13.51x 15.99x 16.71x 21.00x - - 19.54x 17.53x - -
EBITDA 3'826.00 Long-Term Rating Date 01.09.2005
EBIT 3'415.00 Long-Term Rating A-
Operating Margin 31.73% Long-Term Outlook STABLE
Pretax Margin 29.00% Short-Term Rating Date 01.09.2005
Return on Assets 11.04% Short-Term Rating A-2
Return on Common Equity 44.10%
Return on Capital 19.93% EBITDA/Interest Exp. 5.94
Asset Turnover 0.48% (EBITDA-Capex)/Interest Exp. 5.19
Net Debt/EBITDA 1.92
Gross Margin 60.4% Total Debt/EBITDA 2.11
EBITDA Margin 36.5%
EBIT Margin 32.8% Total Debt/Equity 154.4%
Net Income Margin 18.0% Total Debt/Capital 55.9%
Asset Turnover 0.48
Current Ratio 1.52 Net Fixed Asset Turnover 3.74
Quick Ratio 0.59 Accounts receivable turnover-days 95.26
Debt to Assets 38.61% Inventory Days 334.29
Tot Debt to Common Equity 154.42% Accounts Payable Turnover Day -
Accounts Receivable Turnover 3.84 Cash Conversion Cycle 294.76
Inventory Turnover 1.09
Fiscal Year Ended
Diageo PLCPrice/Volume
Valuation Analysis
834'210.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL GROUP COMPAN n/a ULT-AGG 170'818'263 6.81 32'500 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 166'780'393 6.65 19'483'465 25.03.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 103'629'142 4.13 (2'633'373) 31.01.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 93'430'267 3.72 116'442 03.12.2012 Unclassified
FMR LLC n/a ULT-AGG 72'210'629 2.88 (3'259'491) 31.01.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 60'345'332 2.4 21'978'145 03.12.2012 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 53'076'191 2.12 751'700 03.12.2012 Government
UBS n/a ULT-AGG 36'365'999 1.45 1'138'390 31.01.2013 Unclassified
Northern Cross Inter Multiple Portfolios REG 32'768'036 1.31 490'603 03.12.2012 Unclassified
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 31'592'406 1.26 162'750 31.12.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 31'254'191 1.25 7'155'385 03.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios REG 26'868'931 1.07 1'303'879 03.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 26'133'318 1.04 (6'773'960) 31.12.2012 Investment Advisor
Cascade Investment C Multiple Portfolios REG 25'516'958 1.02 - 03.12.2012 Unclassified
STATE STREET n/a ULT-AGG 23'796'416 0.95 1'347'040 26.03.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 20'723'095 0.83 (262'901) 31.12.2012 Investment Advisor
DIAGEO PLC ESOP Multiple Portfolios REG 20'432'541 0.81 443'832 03.12.2012 Unclassified
BREWIN DOLPHIN LIMIT Multiple Portfolios REG 19'857'996 0.79 (847'762) 03.12.2012 Investment Advisor
AXA n/a ULT-AGG 19'645'452 0.78 2'364'575 03.12.2012 Investment Advisor
CI INVESTMENTS INC Multiple Portfolios MF-AGG 19'387'391 0.77 (655'760) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co TREVOR STIRLING market perform 3 M 2'100 12 month 22.03.2013
Nomura IAN SHACKLETON buy 5 M 2'040 12 month 22.03.2013
Stifel MARK D SWARTZBERG buy 5 N 2'400 12 month 21.03.2013
AlphaValue ISABELLE COMBEMALE reduce 2 M 1'912 6 month 21.03.2013
Jefferies DIRK VAN VLAANDEREN buy 5 M 1'915 12 month 19.03.2013
Shore Capital Stockbrokers PHIL CARROLL buy 5 M #N/A N/A Not Provided 19.03.2013
Oriel Securities Ltd CHRIS WICKHAM buy 5 M 2'100 Not Provided 19.03.2013
RBC Capital Markets JAMES EDWARDES JONES sector perform 3 M 2'100 12 month 11.03.2013
JPMorgan MATTHEW WEBB neutral 3 M 1'915 9 month 11.03.2013
Barclays SIMON HALES overweight 5 M 2'150 Not Provided 11.03.2013
Credit Suisse CHARLES MILLS outperform 5 M 2'350 Not Provided 07.03.2013
Raymond James HERMINE DE BENTZMANN outperform 5 M 2'060 12 month 07.03.2013
Canaccord Genuity Corp EDDY HARGREAVES hold 3 M 1'670 12 month 05.03.2013
Day by Day VALERIE GASTALDY buy 5 M 2'460 3 month 28.02.2013
Exane BNP Paribas JAVIER GONZALEZ LASTRA neutral 3 M 1'980 Not Provided 22.02.2013
Investec MARTIN DEBOO hold 3 M 1'970 12 month 15.02.2013
Societe Generale NICOLAS CERON hold 3 M 1'900 12 month 01.02.2013
Kepler Capital Markets LAETITIA DELAYE buy 5 M 2'100 Not Provided 01.02.2013
Natixis OLIVIER DELAHOUSSE buy 5 M 2'100 Not Provided 01.02.2013
Redburn Partners CHRIS PITCHER buy 5 M #N/A N/A Not Provided 01.02.2013
Independent Research GmbH LARS LUSEBRINK hold 3 M 1'900 12 month 31.01.2013
Bryan Garnier & Cie NIKOLAAS FAES buy 5 M 1'900 6 month 31.01.2013
S&P Capital IQ CARL SHORT buy 5 M 2'100 12 month 31.01.2013
Liberum Capital Ltd PABLO ZUANIC buy 5 M 2'300 Not Provided 25.01.2013
CA Cheuvreux ERIC BOROIAN outperform 5 M 1'850 Not Provided 21.01.2013
Grupo Santander ANTHONY J BUCALO buy 5 M 2'100 Not Provided 18.01.2013
EVA Dimensions AUSTIN BURKETT hold 3 M #N/A N/A Not Provided 17.01.2013
Goldman Sachs MITCHELL COLLETT buy/attractive 5 M 2'220 12 month 09.01.2013
Deutsche Bank JAMES ISENWATER buy 5 M 2'000 12 month 10.11.2012
Berenberg Bank PHILIP MORRISEY buy 5 M 1'760 Not Provided 29.10.2012
Espirito Santo Investment Bank ResearchALEX SMITH buy 5 M 1'860 Not Provided 02.10.2012
HSBC ERWAN RAMBOURG neutral 3 M 1'800 Not Provided 08.08.2012
Davy BARRY GALLAGHER outperform 5 M #N/A N/A Not Provided 25.08.2011
Holdings By:
Diageo PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
BHP Billiton Plc is an international resources company. The Company's principal
business lines are mineral exploration and production, including coal, iron ore,
gold, titanium, ferroalloys, nickel and copper concentrate, as well as petroleum
exploration and production. Dually-listed company with BHP AU.
Latest Fiscal Year: 06/2012
LTM as of: 12/yy
52-Week High (19.02.2013) 2'251.50
52-Week Low (01.06.2012) 1'650.50
Daily Volume
1937.5
52-Week High % Change -13.99% Dividend Yield 3.90
52-Week Low % Change 17.33% Beta 1.41
% 52 Week Price Range High/Low 47.92% Equity Float 2'012.24
Shares Out 30.06.2012 2'111.3 Short Int -
114'549.54 1 Yr Total Return 4.44%
Total Debt 28'330.00 YTD Return -7.40%
Preferred Stock 0.0 Adjusted BETA 1.408
Minority Interest 1'215.0 Analyst Recs 32
Cash and Equivalents 5'063.00 Consensus Rating 3.656
Enterprise Value 204'468.90
Average Volume 5 Day 7'247'555
BLT LN EQUITY YTD Change - Average Volume 30 Day 6'583'069
BLT LN EQUITY YTD % CHANGE - Average Volume 3 Month 5'560'194
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 12/yy 12/yy 06/13 Y 06/14 Y - -
59'473.0 50'211.0 52'798.0 71'739.0 72'226.0 - - 68'085.9 74'998.4 - -
3.90x 2.97x 2.83x 3.00x 2.42x - - 2.98x 2.68x - -
28'137.0 21'761.0 24'590.0 38'093.0 33'866.0 - - 29'120.2 34'351.7 - -
8.24x 6.86x 6.07x 5.65x 5.15x - - 7.02x 5.95x - -
15'390.0 5'877.0 12'722.0 23'648.0 15'417.0 - - 13'271.3 16'822.1 - -
13.88x 21.26x 11.48x 9.18x 9.78x - - 11.43x 9.64x - -
EBITDA 33'866.00 Long-Term Rating Date 15.11.2010
EBIT 27'458.00 Long-Term Rating A+
Operating Margin 38.02% Long-Term Outlook STABLE
Pretax Margin 31.87% Short-Term Rating Date 06.02.2008
Return on Assets 7.60% Short-Term Rating A-1
Return on Common Equity 14.89%
Return on Capital 10.90% EBITDA/Interest Exp. 26.69
Asset Turnover 0.52% (EBITDA-Capex)/Interest Exp. 10.27
Net Debt/EBITDA 1.07
Gross Margin - Total Debt/EBITDA 1.25
EBITDA Margin 42.3%
EBIT Margin 32.2% Total Debt/Equity 43.0%
Net Income Margin 21.3% Total Debt/Capital 29.7%
Asset Turnover 0.52
Current Ratio 0.93 Net Fixed Asset Turnover 0.72
Quick Ratio 0.44 Accounts receivable turnover-days 43.13
Debt to Assets 21.91% Inventory Days -
Tot Debt to Common Equity 43.01% Accounts Payable Turnover Day -
Accounts Receivable Turnover 8.49 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
BHP Billiton PLCPrice/Volume
Valuation Analysis
2'237'435.00
Current Price (3/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 ! F
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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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 168'784'326 7.99 - 25.03.2013 Investment Advisor
GEPF EQUITY n/a 20F 87'131'000 4.13 - 24.08.2012 n/a
LEGAL & GENERAL n/a ULT-AGG 85'921'147 4.07 2'333'522 28.02.2013 Unclassified
NORGES BANK n/a RNS-MAJ 63'635'068 3.01 387'315 05.02.2013 Government
ABERDEEN n/a ULT-AGG 61'007'128 2.89 3'056'099 28.02.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 49'811'488 2.36 5'468'533 30.11.2012 Unclassified
FMR LLC n/a ULT-AGG 38'877'200 1.84 1'513'376 31.01.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 37'588'249 1.78 8'992'566 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 35'795'273 1.7 (1'247'628) 31.12.2012 Investment Advisor
INDUSTRIAL DEVELOPME n/a 20F 33'804'582 1.6 - 24.08.2012 Unclassified
PEOPLES REPUBLIC OF Multiple Portfolios REG 29'045'618 1.38 - 01.11.2012 Government
BAILLIE GIFFORD AND Multiple Portfolios REG 24'697'602 1.17 (1'256'810) 01.11.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 23'459'843 1.11 819'531 01.11.2012 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 22'369'418 1.06 1'376'028 31.01.2013 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios REG 21'902'436 1.04 (1'063'116) 01.11.2012 Investment Advisor
STATE STREET n/a ULT-AGG 20'415'622 0.97 (920'460) 26.03.2013 Investment Advisor
Northern Cross Inter Multiple Portfolios REG 19'780'635 0.94 85'032 01.11.2012 Unclassified
ALECTA INVESTMENT MA Multiple Portfolios REG 19'545'000 0.93 (4'850'000) 01.11.2012 Unclassified
M&G INVESTMENT MANAG Multiple Portfolios REG 19'266'422 0.91 529'365 01.11.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 18'688'842 0.89 - 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Exane BNP Paribas SYLVAIN BRUNET neutral 3 M 2'000 Not Provided 21.03.2013
AlphaValue SACHIN KUMAR reduce 2 M 1'894 6 month 21.03.2013
Jefferies Christopher LaFemina buy 5 M 2'550 12 month 20.03.2013
Goldman Sachs MICHELE DELLA VIGNA neutral/neutral 3 D 2'200 12 month 19.03.2013
Espirito Santo Investment Bank ResearchNICK MELLOR sell 1 N 1'703 Not Provided 19.03.2013
Day by Day VALERIE GASTALDY hold 3 D #N/A N/A Not Provided 19.03.2013
Credit Suisse PAUL MCTAGGART neutral 3 M 2'400 Not Provided 15.03.2013
JPMorgan FRASER JAMIESON neutral 3 M 2'300 9 month 15.03.2013
Sanford C. Bernstein & Co PAUL GAIT outperform 5 M 2'450 12 month 15.03.2013
RBC Capital Markets DES KILALEA outperform 5 M 2'300 12 month 08.03.2013
Macquarie JEFFREY LARGEY neutral 3 M 2'175 12 month 07.03.2013
Macquarie KIERAN DALY neutral 3 M 2'146 12 month 07.03.2013
Nomura SAM CATALANO buy 5 M 2'400 Not Provided 04.03.2013
Morgan Stanley MENNO SANDERSE Overwt/In-Line 5 M 2'310 12 month 28.02.2013
SBG Securities PETER DAVEY buy 5 M 2'500 12 month 28.02.2013
Canaccord Genuity Corp PETER MALLIN-JONES hold 3 M 2'155 12 month 26.02.2013
Barclays DAVID BUTLER overweight 5 M 2'300 Not Provided 22.02.2013
Societe Generale ABHISHEK SHUKLA sell 1 M 1'585 12 month 21.02.2013
Independent Research GmbH SVEN DIERMEIER hold 3 M 2'300 12 month 21.02.2013
Natixis RAOUDHA BOUZEKRI buy 5 M 2'400 Not Provided 21.02.2013
Avior Research CLINTON DUNCAN outperform 5 M 3'042 Not Provided 21.02.2013
BMO Capital Markets TONY ROBSON outperform 5 M 2'500 Not Provided 20.02.2013
S&P Capital IQ JOHNSON IMODE hold 3 M 2'200 12 month 20.02.2013
HSBC ANDREW KEEN neutral 3 M 2'250 Not Provided 07.02.2013
Deutsche Bank GRANT SPORRE buy 5 M 2'380 12 month 30.01.2013
EVA Dimensions CRAIG STERLING overweight 5 M #N/A N/A Not Provided 17.01.2013
Investec ALBERT MINASSIAN hold 3 M 2'306 Not Provided 20.12.2012
Redburn Partners SIMON TOYNE neutral 3 M #N/A N/A Not Provided 06.12.2012
Liberum Capital Ltd RICHARD KNIGHTS buy 5 M #N/A N/A Not Provided 20.09.2012
Standard Chartered SUBRAMANIAM VARADA in-line 3 D 2'000 12 month 08.09.2012
Holdings By:
BHP Billiton PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
AstraZeneca PLC is a holding company. The Company, through its subsidiaries,
researches, manufactures, and sells pharmaceutical and medical products.
AstraZeneca focuses its operations on eight therapeutic areas:
Gastrointestinal, Oncology, Cardiovascular, Respiratory, Central Nervous
System, Pain Control, Anaesthesia, and Infection.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (25.03.2013) 3'273.00
52-Week Low (01.06.2012) 2'578.50
Daily Volume
3239
52-Week High % Change -0.96% Dividend Yield 5.72
52-Week Low % Change 25.71% Beta 0.75
% 52 Week Price Range High/Low 97.62% Equity Float 1'246.05
Shares Out 01.03.2013 1'248.2 Short Int -
40'427.78 1 Yr Total Return 21.53%
Total Debt 10'310.00 YTD Return 16.02%
Preferred Stock 0.0 Adjusted BETA 0.752
Minority Interest 215.0 Analyst Recs 37
Cash and Equivalents 8'524.00 Consensus Rating 2.703
Enterprise Value 63'061.09
Average Volume 5 Day 3'766'305
AZN LN EQUITY YTD Change - Average Volume 30 Day 2'535'952
AZN LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'340'425
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
31'601.0 32'804.0 33'269.0 33'591.0 27'973.0 10'020.0 8'103.0 26'350.5 25'603.1 6'532.8 6'360.8
2.11x 2.02x 1.84x 1.71x 2.18x 5.78x 7.01x 2.36x 2.38x - -
11'657.0 13'235.0 14'170.0 13'276.0 10'658.0 2'170.0 1'285.0 9'855.8 9'574.7 2'372.5 2'303.0
5.72x 5.00x 4.31x 4.32x 5.72x 7.25x 12.13x 6.40x 6.59x 6.51x -
6'101.0 7'521.0 8'053.0 9'983.0 6'297.0 1'538.0 26.0 6'692.7 6'369.7 1'668.0 1'607.0
9.74x 9.05x 8.14x 6.29x 9.46x 10.92x 20.69x 8.98x 9.32x 8.37x 8.22x
EBITDA 10'658.00 Long-Term Rating Date 27.07.2007
EBIT 8'140.00 Long-Term Rating AA-
Operating Margin 29.10% Long-Term Outlook STABLE
Pretax Margin 27.59% Short-Term Rating Date 27.07.2007
Return on Assets 11.84% Short-Term Rating A-1+
Return on Common Equity 26.81%
Return on Capital 21.21% EBITDA/Interest Exp. 11.13
Asset Turnover 0.53% (EBITDA-Capex)/Interest Exp. 10.42
Net Debt/EBITDA 0.15
Gross Margin 80.7% Total Debt/EBITDA 0.89
EBITDA Margin 41.5%
EBIT Margin 32.5% Total Debt/Equity 43.4%
Net Income Margin 22.5% Total Debt/Capital 30.1%
Asset Turnover 0.53
Current Ratio 1.35 Net Fixed Asset Turnover 4.47
Quick Ratio 1.02 Accounts receivable turnover-days 80.64
Debt to Assets 19.26% Inventory Days 132.78
Tot Debt to Common Equity 43.43% Accounts Payable Turnover Day 150.40
Accounts Receivable Turnover 4.54 Cash Conversion Cycle 63.02
Inventory Turnover 2.76
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
AstraZeneca PLCPrice/Volume
Valuation Analysis
801'460.00
Current Price (3/dd/yy) Market Data
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4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESCO LTD Multiple Portfolios REG 92'577'683 7.42 4'654'729 01.02.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 81'345'820 6.52 (19'539'361) 25.03.2013 Investment Advisor
AXA n/a ULT-AGG 68'601'379 5.5 (213'062) 01.02.2013 Investment Advisor
INVESTOR AB Multiple Portfolios REG 51'587'810 4.13 - 01.02.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 51'010'537 4.09 (419'253) 28.02.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 42'533'598 3.41 4'057'409 01.02.2013 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 28'877'534 2.31 103'265 01.02.2013 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 27'002'295 2.16 482'103 31.12.2012 Investment Advisor
PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 25'266'060 2.02 29'422 31.07.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios REG 18'084'946 1.45 (791'342) 01.02.2013 Investment Advisor
UBS n/a ULT-AGG 16'999'885 1.36 3'892'025 01.02.2013 Unclassified
CAPITAL GROUP COMPAN n/a ULT-AGG 16'945'000 1.36 7'945'000 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 14'071'861 1.13 256'131 01.02.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 13'747'211 1.1 1'293'245 01.02.2013 Government
VANGUARD GROUP INC Multiple Portfolios REG 13'473'072 1.08 476'641 01.02.2013 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 13'153'411 1.05 36'670 01.02.2013 Investment Advisor
STATE STREET n/a ULT-AGG 12'362'004 0.99 560'902 26.03.2013 Investment Advisor
GMO LLC Multiple Portfolios REG 12'158'200 0.97 (505'782) 01.02.2013 Corporation
M&G INVESTMENT MANAG Multiple Portfolios REG 11'452'982 0.92 (828'120) 01.02.2013 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 10'705'870 0.86 (714'599) 01.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley PETER VERDULT Equalwt/Attractive 3 M 3'310 12 month 25.03.2013
Shore Capital Stockbrokers BRIAN WHITE buy 5 M #N/A N/A Not Provided 25.03.2013
Nordea Equity Research ERIK HULTGARD sell 1 M 3'037 12 month 25.03.2013
Bryan Garnier & Cie ERIC LE BERRIGAUD buy 5 M 3'540 6 month 25.03.2013
Redburn Partners TEAM COVERAGE neutral 3 U #N/A N/A Not Provided 25.03.2013
Exane BNP Paribas NICOLAS GUYON-GELLIN neutral 3 M 3'300 Not Provided 25.03.2013
Barclays MARK PURCELL equalweight 3 M 3'300 Not Provided 25.03.2013
Societe Generale STEPHEN MCGARRY sell 1 M 2'675 12 month 22.03.2013
Deutsche Bank MARK CLARK hold 3 M 3'100 12 month 22.03.2013
ABG Sundal Collier PETER HUGREFFE sell 1 M 2'562 6 month 22.03.2013
Credit Suisse LUISA HECTOR underperform 1 M 3'050 Not Provided 22.03.2013
Jefferies JEFFREY HOLFORD hold 3 M 3'000 12 month 22.03.2013
Sanford C. Bernstein & Co TIMOTHY M ANDERSON market perform 3 M 3'298 12 month 22.03.2013
Independent Research GmbH CHRISTOPH SCHOENDUBE hold 3 M 3'200 12 month 22.03.2013
Carnegie KRISTOFER LILJEBERG hold 3 M #N/A N/A Not Provided 22.03.2013
Kepler Capital Markets FABIAN WENNER hold 3 M 2'700 Not Provided 22.03.2013
Natixis BEATRICE MUZARD neutral 3 U 3'383 Not Provided 22.03.2013
Panmure Gordon & Co Limited SAVVAS NEOPHYTOU hold 3 M 3'200 Not Provided 22.03.2013
Danske Markets MATTIAS HAGGBLOM hold 3 M 3'000 12 month 22.03.2013
S&P Capital IQ SHO MATSUBARA sell 1 M 2'700 12 month 21.03.2013
AlphaValue ARMELLE MOULIN add 4 M 3'311 6 month 21.03.2013
Helvea ODILE RUNDQUIST neutral 3 M 2'850 12 month 19.03.2013
JPMorgan ALEXANDRA M HAUBER-SCHUELE underweight 1 M 2'750 15 month 15.03.2013
Swedbank JOHAN UNNERUS sell 1 D 2'666 12 month 08.03.2013
Nomura AMIT ROY reduce 2 M 2'600 12 month 18.02.2013
Day by Day VALERIE GASTALDY buy 5 M 3'181 3 month 14.02.2013
Berenberg Bank ALISTAIR CAMPBELL hold 3 M 3'050 Not Provided 06.02.2013
Landesbank Baden-Wuerttemberg TIMO KUERSCHNER sell 1 D 2'900 Not Provided 05.02.2013
Pareto Securities YILMAZ MAHSHID sell 1 M 2'843 6 month 04.02.2013
SEB Enskilda LARS HEVRENG hold 3 M 2'924 Not Provided 01.02.2013
Goldman Sachs KEYUR PAREKH neutral/neutral 3 M 3'375 12 month 28.01.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 17.01.2013
Liberum Capital Ltd NARESH CHOUHAN neutral 3 M 3'000 Not Provided 05.10.2012
Main First Bank AG TIM FRANKLIN suspended coverage #N/A N/A M #N/A N/A Not Provided 20.07.2012
Mirabaud Securities NICHOLAS TURNER reduce 2 U 2'700 Not Provided 02.04.2012
DZ Bank AG ELMAR KRAUS buy 5 M 3'700 12 month 02.02.2012
MP Advisors Pvt Ltd BHAVITA NAGRANI underperform 1 M 2'509 Not Provided 07.01.2010
Edward Jones LINDA BANNISTER sell 1 M #N/A N/A Not Provided 20.11.2008
Holdings By:
AstraZeneca PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Rio Tinto PLC is an international mining company. The Company has interests in
mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin,
uranium, zinc, titanium dioxide feedstock, diamonds, talc and zircon.
Dually-listed company with RIO AU.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (14.02.2013) 3'838.00
52-Week Low (05.09.2012) 2'649.50
Daily Volume
3109.5
52-Week High % Change -18.97% Dividend Yield 3.55
52-Week Low % Change 17.38% Beta 1.51
% 52 Week Price Range High/Low 36.68% Equity Float 1'227.54
Shares Out 01.03.2013 1'411.9 Short Int -
61'311.12 1 Yr Total Return -5.09%
Total Debt 26'819.00 YTD Return -9.85%
Preferred Stock 0.0 Adjusted BETA 1.511
Minority Interest 11'156.0 Analyst Recs 31
Cash and Equivalents 7'615.00 Consensus Rating 4.194
Enterprise Value 122'961.25
Average Volume 5 Day 4'419'271
RIO LN EQUITY YTD Change - Average Volume 30 Day 4'934'848
RIO LN EQUITY YTD % CHANGE - Average Volume 3 Month 4'259'484
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y 09/12 Q3 12/12 Q4
54'264.0 41'825.0 55'171.0 60'537.0 50'967.0 2'215.6 2'312.2 58'416.0 62'104.9 - -
1.53x 5.29x 2.71x 1.80x 2.67x 12.65x 11.17x 2.10x 1.94x - -
18'964.0 10'920.0 22'752.0 26'657.0 15'902.0 469.8 477.6 21'990.1 24'140.2 - -
4.38x 20.24x 6.57x 4.09x 8.55x 13.90x 14.81x 5.59x 5.09x - -
3'676.0 4'872.0 14'238.0 5'826.0 (2'990.0) 285.3 247.4 10'986.9 12'212.8 - -
6.19x 18.14x 9.63x 16.07x - 30.00x 34.11x 7.86x 6.91x - -
EBITDA 15'902.00 Long-Term Rating Date 18.04.2011
EBIT 11'461.00 Long-Term Rating A-
Operating Margin 22.49% Long-Term Outlook NEG
Pretax Margin -5.04% Short-Term Rating Date 08.07.2009
Return on Assets -2.52% Short-Term Rating A-2
Return on Common Equity -6.02%
Return on Capital 5.92% EBITDA/Interest Exp. 22.98
Asset Turnover 0.43% (EBITDA-Capex)/Interest Exp. -2.25
Net Debt/EBITDA 1.21
Gross Margin - Total Debt/EBITDA 1.69
EBITDA Margin 31.2%
EBIT Margin 22.5% Total Debt/Equity 57.2%
Net Income Margin -5.9% Total Debt/Capital 31.6%
Asset Turnover 0.43
Current Ratio 1.46 Net Fixed Asset Turnover 0.73
Quick Ratio 0.94 Accounts receivable turnover-days 32.07
Debt to Assets 22.81% Inventory Days -
Tot Debt to Common Equity 57.23% Accounts Payable Turnover Day -
Accounts Receivable Turnover 11.32 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
Rio Tinto PLCPrice/Volume
Valuation Analysis
1'787'473.00
Current Price (3/dd/yy) Market Data
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0.0
500.0
1'000.0
1'500.0
2'000.0
2'500.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SHINING PROSPECT PTE Multiple Portfolios REG 182'550'329 12.93 - 03.12.2012 Holding Company
BLACKROCK n/a ULT-AGG 128'626'019 9.11 - 25.03.2013 Investment Advisor
AXA n/a ULT-AGG 59'271'193 4.2 605'414 03.12.2012 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 53'306'336 3.78 (30'895) 28.02.2013 Unclassified
CAPITAL GROUP COMPAN n/a ULT-AGG 41'031'494 2.91 - 19.02.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 32'751'832 2.32 10'311'357 03.12.2012 Unclassified
ABERDEEN n/a ULT-AGG 29'783'762 2.11 275'493 28.02.2013 Unclassified
BNP PARIBAS INV PART n/a ULT-AGG 28'183'471 2 5'058'654 31.01.2013 Investment Advisor
UBS n/a ULT-AGG 27'888'087 1.98 (363'260) 31.01.2013 Unclassified
PEOPLES REPUBLIC OF Multiple Portfolios REG 22'584'269 1.6 2'505'810 03.12.2012 Government
SUN LIFE FINANCIAL I n/a ULT-AGG 20'784'742 1.47 864'625 31.01.2013 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 20'134'091 1.43 (1'535'852) 03.12.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 15'566'865 1.1 777'762 03.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 14'972'836 1.06 559'905 31.12.2012 Investment Advisor
AVIVA INVESTORS Multiple Portfolios REG 14'066'647 1 (18'708) 03.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 13'772'088 0.98 509'965 03.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 13'345'435 0.95 812'987 31.01.2013 Unclassified
GOVT OF SINGAPORE IN n/a ULT-AGG 13'197'558 0.93 (667'279) 03.12.2012 Government
SCHRODER INVESTMENT Multiple Portfolios REG 13'004'093 0.92 3'648'560 03.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 10'894'531 0.77 49'517 31.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley MENNO SANDERSE Equalwt/In-Line 3 M 3'870 12 month 27.03.2013
Credit Suisse PAUL MCTAGGART outperform 5 M 4'000 Not Provided 26.03.2013
Independent Research GmbH SVEN DIERMEIER hold 3 D 3'400 12 month 25.03.2013
EVA Dimensions CRAIG STERLING hold 3 D #N/A N/A Not Provided 22.03.2013
Jefferies Christopher LaFemina buy 5 M 4'100 12 month 21.03.2013
AlphaValue SACHIN KUMAR add 4 M 3'796 6 month 21.03.2013
Sanford C. Bernstein & Co PAUL GAIT outperform 5 M 4'575 12 month 20.03.2013
Goldman Sachs MICHELE DELLA VIGNA Sell/Neutral 1 D 2'800 12 month 19.03.2013
JPMorgan FRASER JAMIESON overweight 5 M 4'400 9 month 15.03.2013
SBG Securities PETER DAVEY buy 5 M 4'300 12 month 11.03.2013
Macquarie JEFFREY LARGEY neutral 3 M 4'050 12 month 08.03.2013
RBC Capital Markets DES KILALEA outperform 5 M 4'300 12 month 04.03.2013
Espirito Santo Investment Bank ResearchNICK MELLOR sell 1 M 2'910 12 month 04.03.2013
Day by Day VALERIE GASTALDY hold 3 D #N/A N/A Not Provided 04.03.2013
Exane BNP Paribas LUC PEZ outperform 5 M 4'700 Not Provided 27.02.2013
BMO Capital Markets TONY ROBSON outperform 5 M 4'500 Not Provided 25.02.2013
Societe Generale ABHISHEK SHUKLA buy 5 M 3'900 12 month 15.02.2013
Deutsche Bank ROBERT CLIFFORD buy 5 M 4'720 12 month 15.02.2013
Natixis RAOUDHA BOUZEKRI neutral 3 M 3'500 Not Provided 15.02.2013
Canaccord Genuity Corp PETER MALLIN-JONES buy 5 M 4'200 12 month 14.02.2013
Nomura SAM CATALANO buy 5 M 3'700 12 month 14.02.2013
S&P Capital IQ JOHNSON IMODE strong buy 5 M 4'200 12 month 14.02.2013
HSBC ANDREW KEEN overweight 5 M 4'180 Not Provided 07.02.2013
Redburn Partners SIMON TOYNE buy 5 M #N/A N/A Not Provided 21.01.2013
Barclays DAVID BUTLER overweight 5 M 4'000 Not Provided 14.01.2013
Liberum Capital Ltd RICHARD KNIGHTS buy 5 U #N/A N/A Not Provided 30.11.2012
Standard Chartered SUBRAMANIAM VARADA outperform 5 M 3'430 12 month 22.11.2012
Axiom Capital GORDON L JOHNSON sell 1 N 2'059 12 month 30.07.2012
Holdings By:
Rio Tinto PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
BG Group plc specializes in the exploration, production, transmission and
distribution of gas, oil and liquefied natural gas. The Group also develops,
owns and operates gas-fired power generation plants.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (27.03.2012) 1'529.50
52-Week Low (19.11.2012) 991.00
Daily Volume
1119.5
52-Week High % Change -26.81% Dividend Yield 1.55
52-Week Low % Change 12.97% Beta 1.21
% 52 Week Price Range High/Low 27.67% Equity Float 3'260.90
Shares Out 01.03.2013 3'402.5 Short Int -
38'091.15 1 Yr Total Return -23.19%
Total Debt 15'507.00 YTD Return 10.57%
Preferred Stock 0.0 Adjusted BETA 1.212
Minority Interest 57.0 Analyst Recs 31
Cash and Equivalents 4'434.00 Consensus Rating 4.097
Enterprise Value 68'660.96
Average Volume 5 Day 5'299'171
BG/ LN EQUITY YTD Change - Average Volume 30 Day 4'937'506
BG/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 5'871'065
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
23'270.8 15'992.8 17'166.0 21'073.0 18'933.0 10'326.0 10'945.0 20'138.5 22'918.5 5'177.0 5'244.5
2.83x 4.28x 4.68x 4.20x 3.54x 9.20x 9.49x 3.48x 3.21x 13.30x 12.93x
11'459.5 8'440.4 8'672.0 10'026.0 10'198.0 2'245.0 2'375.4 10'801.0 12'887.3 2'755.0 2'722.0
5.75x 8.10x 9.27x 8.83x 6.58x 11.14x 10.99x 6.36x 5.33x 6.18x 5.94x
5'790.9 3'394.9 3'351.0 4'234.0 4'519.0 1'343.3 1'407.0 4'404.7 5'280.2 1'194.5 1'174.5
10.25x 17.40x 20.19x 17.08x 16.87x 20.61x 20.41x 12.85x 10.83x 12.21x 11.37x
EBITDA 10'198.00 Long-Term Rating Date -
EBIT 7'605.00 Long-Term Rating -
Operating Margin 40.17% Long-Term Outlook -
Pretax Margin 33.62% Short-Term Rating Date -
Return on Assets 7.14% Short-Term Rating -
Return on Common Equity 14.48%
Return on Capital 10.24% EBITDA/Interest Exp. 15.20
Asset Turnover 0.34% (EBITDA-Capex)/Interest Exp. 0.33
Net Debt/EBITDA 1.05
Gross Margin - Total Debt/EBITDA 1.47
EBITDA Margin 48.7%
EBIT Margin 36.8% Total Debt/Equity 46.9%
Net Income Margin 23.9% Total Debt/Capital 31.9%
Asset Turnover 0.34
Current Ratio 1.49 Net Fixed Asset Turnover 0.53
Quick Ratio 0.54 Accounts receivable turnover-days 111.74
Debt to Assets 23.77% Inventory Days -
Tot Debt to Common Equity 46.94% Accounts Payable Turnover Day -
Accounts Receivable Turnover 3.28 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
BG Group PLCPrice/Volume
Valuation Analysis
1'915'151.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 253'990'367 7.46 14'804'992 25.03.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 152'363'377 4.48 1'010'042 01.01.2013 Government
LEGAL & GENERAL n/a ULT-AGG 120'599'210 3.54 (4'289'039) 01.01.2013 Unclassified
FMR LLC n/a ULT-AGG 102'081'949 3 (22'980'265) 31.01.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 94'465'521 2.78 11'446'507 01.01.2013 Unclassified
VANGUARD GROUP INC Multiple Portfolios MF-AGG 92'621'382 2.72 5'290'403 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 64'366'135 1.89 4'003'911 01.01.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 57'396'054 1.69 3'496'882 01.01.2013 Government
SCHRODER INVESTMENT Multiple Portfolios REG 48'293'192 1.42 5'128'695 01.01.2013 Investment Advisor
GOVT OF SINGAPORE IN n/a ULT-AGG 45'954'406 1.35 1'265'240 01.01.2013 Government
STANDARD LIFE INVEST Multiple Portfolios REG 42'153'440 1.24 1'734'497 01.01.2013 Investment Advisor
Northern Cross Inter Multiple Portfolios REG 41'754'612 1.23 14'104'546 01.01.2013 Unclassified
STATE FARM MUTUAL AU Multiple Portfolios REG 40'100'800 1.18 1'113'800 01.01.2013 Insurance Company
ALECTA INVESTMENT MA Multiple Portfolios REG 40'085'000 1.18 - 01.01.2013 Unclassified
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 39'857'836 1.17 13'734'613 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 39'552'694 1.16 22'192'928 01.01.2013 Investment Advisor
AXA n/a ULT-AGG 38'280'582 1.13 1'790'949 01.01.2013 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 34'797'279 1.02 (9'463'064) 31.01.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 33'967'551 1 4'544'498 31.01.2013 Investment Advisor
UBS n/a ULT-AGG 33'600'933 0.99 1'321'095 31.01.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raymond James BERTRAND HODEE outperform 5 N 1'400 Not Provided 26.03.2013
Jefferies BRENDAN MICHAEL WARN buy 5 M 1'700 12 month 22.03.2013
AlphaValue ALEXANDRE ANDLAUER sell 1 M 942 6 month 21.03.2013
Grupo Santander JASON KENNEY buy 5 M 1'395 Not Provided 20.03.2013
Goldman Sachs MICHELE DELLA VIGNA Buy/Cautious 5 M 1'600 12 month 20.03.2013
Sanford C. Bernstein & Co OSWALD CLINT outperform 5 M 1'890 12 month 18.03.2013
Oriel Securities Ltd RICHARD GRIFFITH buy 5 M #N/A N/A Not Provided 18.03.2013
Exane BNP Paribas ALEJANDRO DEMICHELIS outperform 5 M 1'470 Not Provided 18.03.2013
JPMorgan FREDERICK G LUCAS overweight 5 M 1'600 9 month 07.03.2013
Societe Generale IRENE HIMONA hold 3 M 1'200 12 month 25.02.2013
Canaccord Genuity Corp GORDON GRAY buy 5 M 1'300 12 month 21.02.2013
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 21.02.2013
RBC Capital Markets PETER HUTTON outperform 5 M 1'360 12 month 19.02.2013
HSBC PAUL SPEDDING overweight 5 M 1'815 Not Provided 18.02.2013
Liberum Capital Ltd ANDREW WHITTOCK hold 3 M 1'268 Not Provided 15.02.2013
Credit Suisse THOMAS YOICHI ADOLFF neutral 3 M 1'150 Not Provided 11.02.2013
Independent Research GmbH SVEN DIERMEIER hold 3 M 1'200 12 month 08.02.2013
Equita SIM SpA MASSIMO BONISOLI buy 5 M 1'415 12 month 07.02.2013
Macquarie JASON D GAMMEL neutral 3 M 1'300 12 month 06.02.2013
Nomura THEEPAN JOTHILINGAM buy 5 M 1'500 12 month 06.02.2013
S&P Capital IQ CHRISTINE TISCARENO buy 5 U 1'400 12 month 06.02.2013
Barclays RAHIM KARIM overweight 5 M 1'420 Not Provided 06.02.2013
Morgan Stanley MARTIJN P RATS Equalwt/In-Line 3 M 1'110 12 month 05.02.2013
Investec STUART JOYNER sell 1 M 1'000 12 month 05.02.2013
EVA Dimensions CRAIG STERLING overweight 5 M #N/A N/A Not Provided 15.01.2013
Day by Day VALERIE GASTALDY hold 3 D #N/A N/A Not Provided 05.11.2012
Deutsche Bank LUCAS HERRMANN hold 3 D 1'350 12 month 02.11.2012
Tudor Pickering & Co ANISH KAPADIA hold 3 M 1'500 Not Provided 01.11.2012
CA Cheuvreux JEAN-CHARLES LACOSTE suspended coverage #N/A N/A M #N/A N/A Not Provided 20.09.2012
Shore Capital Stockbrokers GERARD LANE not rated #N/A N/A M #N/A N/A Not Provided 05.03.2012
Holdings By:
BG Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Barclays PLC is a global financial services provider engaged in retail banking,
credit cards, wholesale banking, investment banking, wealth management and
investment management services.
Latest Fiscal Year: 12/2012
LTM as of: 02/yy
52-Week High (13.02.2013) 330.05
52-Week Low (26.07.2012) 148.20
Daily Volume
287.8
52-Week High % Change -13.07% Dividend Yield 2.27
52-Week Low % Change 93.59% Beta 1.87
% 52 Week Price Range High/Low 76.44% Equity Float 11'270.39
Shares Out 28.02.2013 12'860.7 Short Int -
37'012.98 1 Yr Total Return 17.07%
Total Debt 437'951.00 YTD Return 10.53%
Preferred Stock 0.0 Adjusted BETA 1.874
Minority Interest 9'371.0 Analyst Recs 33
Cash and Equivalents 128'120.00 Consensus Rating 4.091
Enterprise Value -
Average Volume 5 Day 54'646'920
BARC LN EQUITY YTD Change - Average Volume 30 Day 52'266'530
BARC LN EQUITY YTD % CHANGE - Average Volume 3 Month 48'537'040
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 02/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
37'159.0 41'789.0 40'058.0 38'428.0 38'837.0 2'349.0 2'377.0 29'393.8 30'155.3 - -
- - - - - 12.82x 12.79x -6.81x -7.31x - -
- - - - - 732.0 740.0 - - - -
- - - - - 10.20x 10.51x - - - -
4'382.0 9'393.0 3'564.0 3'007.0 (1'041.0) 558.0 563.0 4'621.6 5'542.0 - -
3.00x 11.49x 8.60x 7.02x - 15.17x 15.83x 7.82x 6.53x - -
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A
Operating Margin 22.09% Long-Term Outlook NEG
Pretax Margin 0.79% Short-Term Rating Date 19.12.2008
Return on Assets -0.07% Short-Term Rating A-1
Return on Common Equity -1.91%
Return on Capital -0.05% EBITDA/Interest Exp. -
Asset Turnover 0.02% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 817.3%
Net Income Margin -3.3% Total Debt/Capital 87.4%
Asset Turnover 0.02
Current Ratio - Net Fixed Asset Turnover 5.30
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 29.39% Inventory Days -
Tot Debt to Common Equity 817.29% 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
Barclays PLCPrice/Volume
Valuation Analysis
28'111'340.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
QATAR HOLDINGS LLC Multiple Portfolios REG 813'964'552 6.33 - 01.02.2013 Government
AL NAHYAN MANSOUR BI n/a RNS-MAJ 758'437'618 5.9 - 26.02.2013 n/a
BLACKROCK n/a ULT-AGG 690'750'564 5.37 - 25.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 492'619'694 3.83 120'690'937 01.02.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 446'002'615 3.47 13'623'199 01.02.2013 Unclassified
FMR LLC n/a ULT-AGG 407'194'329 3.17 (55'814'797) 01.02.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 304'001'751 2.36 44'011'198 01.02.2013 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 293'887'216 2.29 9'654'863 01.02.2013 Government
UPPER CHANCE GROUP L Multiple Portfolios REG 248'872'808 1.94 - 01.02.2013 Unclassified
DODGE & COX Multiple Portfolios MF-AGG 248'069'617 1.93 - 29.01.2013 Investment Advisor
DODGE & COX Multiple Portfolios REG 247'149'298 1.92 (19'000'000) 01.02.2013 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 235'301'396 1.83 (4'091'569) 01.02.2013 Investment Advisor
UBS n/a ULT-AGG 214'395'988 1.67 (58'772'408) 01.02.2013 Unclassified
BARCLAYS PERSONAL IN Multiple Portfolios REG 210'027'061 1.63 (18'528'345) 01.02.2013 Investment Advisor
SUMITOMO MITSUI FINA n/a ULT-AGG 194'608'412 1.51 (259'690) 01.02.2013 Bank
VANGUARD GROUP INC Multiple Portfolios MF-AGG 150'580'109 1.17 (3'613'787) 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 149'488'179 1.16 (11'569'337) 01.02.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 146'704'193 1.14 6'134'884 01.02.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 129'472'703 1.01 2'971'061 01.02.2013 Government
ORBIS INVESTMENT MAN Multiple Portfolios REG 127'348'130 0.99 (9'688'810) 01.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Mediobanca SpA CHRISTOPHER J WHEELER outperform 5 M 425 Not Provided 25.03.2013
Morgan Stanley CHRISTOPHER MANNERS Overwt/In-Line 5 M 438 12 month 25.03.2013
Investec IAN GORDON buy 5 M 345 12 month 21.03.2013
AlphaValue DAVID GRINSZTAJN add 4 M 363 6 month 21.03.2013
EVA Dimensions AUSTIN BURKETT hold 3 U #N/A N/A Not Provided 21.03.2013
Macquarie EDWARD FIRTH neutral 3 M 320 12 month 19.03.2013
Nomura CHINTAN JOSHI reduce 2 M 305 12 month 18.03.2013
Exane BNP Paribas TOM RAYNER outperform 5 M 400 Not Provided 18.03.2013
Oriel Securities Ltd VIVEK RAJA buy 5 U 380 Not Provided 14.03.2013
Grupo Santander ARTURO DE FRIAS buy 5 M 340 Not Provided 12.03.2013
Numis Securities Ltd MICHAEL J TRIPPITT buy 5 M 400 Not Provided 12.03.2013
JPMorgan RAUL SINHA overweight 5 M 375 9 month 11.03.2013
RBC Capital Markets FIONA SWAFFIELD outperform 5 M 375 12 month 05.03.2013
Baden Hill LLP JAMIE MOYES sell 1 M #N/A N/A Not Provided 01.03.2013
Keefe, Bruyette & Woods MARK J PHIN outperform 5 M 400 12 month 27.02.2013
Societe Generale JAMES INVINE buy 5 M 380 12 month 26.02.2013
HSBC PETER TOEMAN overweight 5 M 400 Not Provided 26.02.2013
Espirito Santo Investment Bank ResearchSHAILESH RAIKUNDLIA buy 5 M 418 Not Provided 26.02.2013
Sanford C. Bernstein & Co CHIRANTAN BARUA outperform 5 U 400 12 month 21.02.2013
Goldman Sachs FREDERIK THOMASEN neutral/neutral 3 D 340 12 month 19.02.2013
Redburn Partners FAHED KUNWAR buy 5 M #N/A N/A Not Provided 15.02.2013
Shore Capital Stockbrokers GARY GREENWOOD hold 3 M #N/A N/A Not Provided 14.02.2013
Deutsche Bank JASON NAPIER buy 5 M 380 12 month 13.02.2013
Credit Suisse CARLA ANTUNES-SILVA neutral 3 M 290 Not Provided 13.02.2013
S&P Capital IQ FRANK BRADEN buy 5 R 380 12 month 13.02.2013
Independent Research GmbH STEFAN BONGARDT buy 5 U 350 12 month 12.02.2013
Canaccord Genuity Corp GARETH HUNT hold 3 M 280 12 month 12.02.2013
Berenberg Bank JAMES CHAPPELL sell 1 M 160 Not Provided 12.02.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 07.01.2013
Liberum Capital Ltd CORMAC LEECH hold 3 D 230 Not Provided 14.11.2012
Holdings By:
Barclays PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Standard Chartered plc is an international banking group operating principally
in Asia, Africa, and the Middle East. The Company offers its products and
services in the personal, consumer, corporate, institutional and treasury
areas.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (05.03.2013) 1'860.50
52-Week Low (07.08.2012) 1'092.00
Daily Volume
1695
52-Week High % Change -8.98% Dividend Yield 3.28
52-Week Low % Change 55.08% Beta 1.18
% 52 Week Price Range High/Low 80.42% Equity Float 1'978.74
Shares Out 06.03.2013 2'413.1 Short Int -
40'901.39 1 Yr Total Return 9.03%
Total Debt 113'172.00 YTD Return 10.00%
Preferred Stock 1'495.0 Adjusted BETA 1.177
Minority Interest 693.0 Analyst Recs 42
Cash and Equivalents 121'665.00 Consensus Rating 3.881
Enterprise Value -
Average Volume 5 Day 3'986'690
STAN LN EQUITY YTD Change - Average Volume 30 Day 4'390'414
STAN LN EQUITY YTD % CHANGE - Average Volume 3 Month 3'793'590
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/12 Q1 06/12 Q2
22'429.0 20'558.0 21'355.0 24'343.0 26'908.0 - - 20'731.6 22'779.4 - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
3'241.0 3'380.0 4'332.0 4'849.0 4'887.0 - - 5'809.3 6'447.6 1'900.0 -
6.41x 14.69x 13.38x 10.66x 12.53x - - 10.76x 9.76x - -
EBITDA - Long-Term Rating Date 01.12.2011
EBIT - Long-Term Rating A+
Operating Margin 35.37% Long-Term Outlook NEG
Pretax Margin 34.97% Short-Term Rating Date 10.01.2008
Return on Assets 0.79% Short-Term Rating A-1
Return on Common Equity 11.32%
Return on Capital 3.31% EBITDA/Interest Exp. -
Asset Turnover 0.04% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 258.0%
Net Income Margin 24.9% Total Debt/Capital 71.1%
Asset Turnover 0.04
Current Ratio - Net Fixed Asset Turnover 4.59
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 17.78% Inventory Days -
Tot Debt to Common Equity 257.99% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Standard Chartered PLCPrice/Volume
Valuation Analysis
831'702.00
Current Price (3/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
20'000.0
25'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TEMASEK HOLDINGS PRI n/a ULT-AGG 432'746'145 17.93 - 29.02.2012 Government
BLACKROCK n/a ULT-AGG 165'824'190 6.87 - 25.03.2013 Investment Advisor
ABERDEEN n/a ULT-AGG 157'962'325 6.55 (595'713) 02.01.2013 Unclassified
LEGAL & GENERAL n/a ULT-AGG 85'794'638 3.56 116'049 28.02.2013 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 54'789'154 2.27 900'637 02.01.2013 Government
SUN LIFE FINANCIAL I n/a ULT-AGG 53'057'843 2.2 2'991'820 31.01.2013 Investment Advisor
FMR LLC n/a ULT-AGG 51'450'411 2.13 2'594'560 31.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 49'225'497 2.04 (92'936) 31.12.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 46'720'870 1.94 23'142'351 02.01.2013 Unclassified
BNP PARIBAS INV PART n/a ULT-AGG 45'077'332 1.87 (415'238) 31.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 39'082'703 1.62 2'474'481 02.01.2013 Investment Advisor
BAILLIE GIFFORD AND Multiple Portfolios REG 30'412'658 1.26 194'259 02.01.2013 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios REG 30'132'593 1.25 (60'464) 02.01.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 28'624'271 1.19 4'925'501 31.01.2013 Unclassified
PEOPLES REPUBLIC OF Multiple Portfolios REG 28'340'249 1.17 5'884'182 02.01.2013 Government
DODGE & COX Multiple Portfolios MF-AGG 27'346'560 1.13 106'661 29.01.2013 Investment Advisor
UBS n/a ULT-AGG 24'315'105 1.01 4'313'147 31.01.2013 Unclassified
Standard Chartered B Multiple Portfolios REG 24'000'000 0.99 - 02.01.2013 Unclassified
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 23'951'106 0.99 550'000 31.01.2013 Investment Advisor
WALTER SCOTT & PARTN Multiple Portfolios REG 20'631'586 0.85 (437'402) 02.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Investec IAN GORDON buy 5 M 1'900 12 month 26.03.2013
Macquarie THOMAS STOEGNER outperform 5 M 2'000 12 month 26.03.2013
Mediobanca SpA CHRISTOPHER J WHEELER outperform 5 U 1'837 Not Provided 25.03.2013
RBC Capital Markets PATRICK LEE sector perform 3 M 1'700 12 month 25.03.2013
HSBC PETER TOEMAN neutral 3 M 1'800 Not Provided 21.03.2013
AlphaValue DAVID GRINSZTAJN reduce 2 M 1'778 6 month 21.03.2013
EVA Dimensions AUSTIN BURKETT hold 3 U #N/A N/A Not Provided 21.03.2013
Credit Suisse AMIT GOEL underperform 1 M 1'400 Not Provided 20.03.2013
Sanford C. Bernstein & Co CHIRANTAN BARUA underperform 1 M 1'330 12 month 20.03.2013
Nomura CHINTAN JOSHI buy 5 M 2'100 12 month 18.03.2013
Exane BNP Paribas TOM RAYNER neutral 3 M 1'750 Not Provided 18.03.2013
Oriel Securities Ltd VIVEK RAJA add 4 D 2'050 Not Provided 14.03.2013
Berenberg Bank JAMES CHAPPELL sell 1 D 1'450 Not Provided 12.03.2013
Liberum Capital Ltd CORMAC LEECH hold 3 D 1'875 Not Provided 12.03.2013
Independent Research GmbH STEFAN BONGARDT buy 5 U 2'100 12 month 08.03.2013
Shore Capital Stockbrokers GARY GREENWOOD buy 5 M #N/A N/A Not Provided 08.03.2013
Keefe, Bruyette & Woods MARK J PHIN market perform 3 M 1'890 12 month 07.03.2013
Landesbank Baden-Wuerttemberg WERNER SCHIRMER hold 3 M 1'900 Not Provided 07.03.2013
Societe Generale JAMES INVINE buy 5 M 2'100 12 month 06.03.2013
Deutsche Bank JASON NAPIER hold 3 M 1'825 12 month 06.03.2013
JPMorgan RAUL SINHA overweight 5 M 2'000 9 month 06.03.2013
China International Capital Corp SALLY NG hold 3 M 1'821 12 month 06.03.2013
BNP Paribas Equity Research DOMINIC CHAN buy 5 M 2'157 12 month 06.03.2013
Citic Securities Co., Ltd STEVEN CHAN hold 3 M 1'764 6 month 06.03.2013
Numis Securities Ltd MICHAEL J TRIPPITT add 4 M 2'057 Not Provided 06.03.2013
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 1'888 Not Provided 06.03.2013
Morgan Stanley CHRISTOPHER MANNERS Overwt/In-Line 5 M 2'020 12 month 05.03.2013
S&P Capital IQ FRANK BRADEN hold 3 M 1'980 12 month 05.03.2013
CCB International Securities Ltd ADAM CHAN outperform 5 M 2'049 Not Provided 05.03.2013
Mizuho Securities JIM ANTOS buy 5 U 2'057 12 month 01.03.2013
Day by Day VALERIE GASTALDY buy 5 U 1'854 3 month 14.02.2013
Espirito Santo Investment Bank ResearchSHAILESH RAIKUNDLIA buy 5 M 1'970 Not Provided 29.01.2013
Goldman Sachs FREDERIK THOMASEN neutral/neutral 3 M 1'950 12 month 28.01.2013
Redburn Partners FAHED KUNWAR neutral 3 M #N/A N/A Not Provided 04.01.2013
Barclays ROHITH CHANDRA-RAJAN overweight 5 M 1'600 Not Provided 17.12.2012
Grupo Santander ARTURO DE FRIAS buy 5 M 1'960 Not Provided 11.12.2012
Canaccord Genuity Corp GARETH HUNT sell 1 M 1'325 12 month 06.12.2012
Daniel Stewart & Co SIMON WILLIS buy 5 M 1'900 12 month 08.08.2012
JM Financial Institutional Securities P PUNEET GULATI buy 5 M 1'800 Not Provided 02.08.2012
IIFL SACHIN NIKHARE add 4 M 1'700 12 month 01.03.2012
Holdings By:
Standard Chartered PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Unilever PLC manufactures branded and packaged consumer goods, including food,
detergents, fragrances, home and personal care products. Dually-listed company
with UNA NA.
Latest Fiscal Year: 12/2012
LTM as of: 11/yy
52-Week High (25.03.2013) 2'782.00
52-Week Low (11.04.2012) 1'993.00
Daily Volume
2731
52-Week High % Change -2.01% Dividend Yield 3.01
52-Week Low % Change 36.78% Beta 0.58
% 52 Week Price Range High/Low 97.34% Equity Float 1'212.16
Shares Out 31.12.2012 1'283.5 Short Int -
80'469.99 1 Yr Total Return 36.68%
Total Debt 10'221.00 YTD Return 16.14%
Preferred Stock 0.0 Adjusted BETA 0.582
Minority Interest 557.0 Analyst Recs 28
Cash and Equivalents 2'866.00 Consensus Rating 3.786
Enterprise Value 103'093.96
Average Volume 5 Day 2'216'493
ULVR LN EQUITY YTD Change - Average Volume 30 Day 2'116'801
ULVR LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'150'922
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 11/yy 11/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
40'523.0 39'823.0 44'262.0 46'467.0 51'324.0 9'272.5 10'245.4 53'508.8 56'551.8 12'678.3 13'837.2
1.35x 1.75x 1.62x 1.77x 1.76x 4.95x 5.34x 1.90x 1.77x - -
6'793.0 6'887.0 7'620.0 7'921.0 8'379.0 1'659.2 1'782.2 8'790.1 9'406.3 - -
8.04x 10.14x 9.40x 10.40x 10.79x 7.50x 7.19x 11.73x 10.97x - -
5'027.0 3'370.0 4'244.0 4'252.0 4'480.0 921.9 1'015.0 4'919.9 5'363.3 1'120.0 1'140.0
9.21x 18.57x 15.17x 17.14x 18.39x 15.56x 13.74x 19.09x 17.57x 18.85x -
EBITDA 8'379.00 Long-Term Rating Date 05.10.2000
EBIT 7'180.00 Long-Term Rating A+
Operating Margin 13.99% Long-Term Outlook STABLE
Pretax Margin 13.02% Short-Term Rating Date 05.10.2000
Return on Assets 9.56% Short-Term Rating A-1
Return on Common Equity 30.42%
Return on Capital 19.56% EBITDA/Interest Exp. 15.93
Asset Turnover 1.10% (EBITDA-Capex)/Interest Exp. 12.17
Net Debt/EBITDA 0.88
Gross Margin 40.2% Total Debt/EBITDA 1.22
EBITDA Margin 16.3%
EBIT Margin 14.0% Total Debt/Equity 67.4%
Net Income Margin 8.7% Total Debt/Capital 39.4%
Asset Turnover 1.10
Current Ratio 0.77 Net Fixed Asset Turnover 5.63
Quick Ratio 0.36 Accounts receivable turnover-days 20.29
Debt to Assets 22.14% Inventory Days -
Tot Debt to Common Equity 67.43% Accounts Payable Turnover Day -
Accounts Receivable Turnover 18.04 Cash Conversion Cycle -8.85
Inventory Turnover -
Fiscal Year Ended
Unilever PLCPrice/Volume
Valuation Analysis
783'098.00
Current Price (3/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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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 74'570'243 5.81 - 25.03.2013 Investment Advisor
The Leverhulme Trust Multiple Portfolios REG 70'566'764 5.5 - 02.01.2013 Unclassified
LEGAL & GENERAL n/a ULT-AGG 43'844'579 3.42 (19'403) 02.01.2013 Unclassified
M&G INVESTMENT MANAG Multiple Portfolios REG 33'695'100 2.63 521'877 02.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 29'379'103 2.29 - 02.01.2013 Government
SCOTTISH WIDOWS n/a ULT-AGG 23'491'012 1.83 7'368'008 02.01.2013 Unclassified
MORGAN STANLEY INVES Multiple Portfolios REG 20'988'391 1.64 7'492'327 02.01.2013 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 18'808'791 1.47 938'955 02.01.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 18'578'700 1.45 7'437'850 02.01.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 18'031'348 1.4 1'103'042 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios REG 17'496'650 1.36 313'701 02.01.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 17'373'510 1.35 4'229'196 02.01.2013 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 17'220'914 1.34 82'924 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 17'139'553 1.34 164'900 31.01.2013 Investment Advisor
FMR LLC n/a ULT-AGG 15'546'745 1.21 257'035 31.01.2013 Investment Advisor
UBS n/a ULT-AGG 15'205'740 1.18 (1'458'747) 31.01.2013 Unclassified
SCHRODER INVESTMENT Multiple Portfolios REG 14'967'376 1.17 (1'475'510) 02.01.2013 Investment Advisor
BREWIN DOLPHIN LIMIT Multiple Portfolios REG 14'171'028 1.1 (201'301) 02.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 14'055'878 1.1 931'645 02.01.2013 Investment Advisor
CEDAR ROCK CAPITAL L Multiple Portfolios REG 13'353'349 1.04 (229'486) 02.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co ANDREW WOOD outperform 5 M 2'700 12 month 25.03.2013
Panmure Gordon & Co Limited GRAHAM JONES buy 5 M 3'000 Not Provided 21.03.2013
AlphaValue SOPHIE CABO-BROSETA sell 1 M 2'419 6 month 21.03.2013
Shore Capital Stockbrokers DARREN SHIRLEY buy 5 M #N/A N/A Not Provided 19.03.2013
Exane BNP Paribas JEFF STENT neutral 3 M 2'900 Not Provided 19.03.2013
Morgan Stanley EILEEN KHOO Equalwt/In-Line 3 M 2'200 12 month 13.03.2013
Oriel Securities Ltd CHRIS WICKHAM hold 3 M 2'800 Not Provided 13.03.2013
Mirabaud Securities JULIAN LAKIN hold 3 M 2'800 12 month 12.03.2013
RBC Capital Markets JAMES EDWARDES JONES underperform 1 M 2'800 12 month 11.03.2013
Credit Suisse CHARLES MILLS neutral 3 M 2'800 Not Provided 07.03.2013
Liberum Capital Ltd PABLO ZUANIC buy 5 M 3'250 Not Provided 06.03.2013
Investec MARTIN DEBOO buy 5 M 2'900 12 month 20.02.2013
Day by Day VALERIE GASTALDY buy 5 M 2'740 3 month 11.02.2013
Goldman Sachs ALEXIS COLOMBO Buy/Neutral 5 M 3'100 12 month 07.02.2013
Barclays IAIN SIMPSON overweight 5 M 2'900 Not Provided 31.01.2013
HSBC CEDRIC BESNARD overweight 5 M 2'940 Not Provided 30.01.2013
EVA Dimensions AUSTIN BURKETT overweight 5 D #N/A N/A Not Provided 29.01.2013
JPMorgan CELINE PANNUTI overweight 5 M 2'850 9 month 28.01.2013
Berenberg Bank JAMES TARGETT buy 5 M 2'800 Not Provided 25.01.2013
Deutsche Bank HAROLD THOMPSON hold 3 M 2'520 12 month 23.01.2013
Jefferies ALEX HOWSON buy 5 M 2'460 12 month 23.01.2013
S&P Capital IQ CARL SHORT hold 3 M 2'600 12 month 23.01.2013
Redburn Partners JEREMY FIALKO neutral 3 M #N/A N/A Not Provided 24.09.2012
Espirito Santo Investment Bank ResearchALEX SMITH neutral 3 M 2'280 Not Provided 14.09.2012
Nord/LB WOLFGANG VASTERLING hold 3 M #N/A N/A Not Provided 03.07.2012
Nomura DAVID HAYES reduce 2 M 1'870 Not Provided 17.01.2012
Holdings By:
Unilever PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
SABMiller plc is an international beer company. The Company bottles and
distributes beer through breweries worldwide. SABMiller also bottles and
distributes a number of soft drinks.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (14.03.2013) 3'514.50
52-Week Low (30.05.2012) 2'342.00
Daily Volume
3412.5
52-Week High % Change -2.94% Dividend Yield 1.81
52-Week Low % Change 45.64% Beta 0.96
% 52 Week Price Range High/Low 93.90% Equity Float 802.58
Shares Out 28.02.2013 1'597.1 Short Int -
54'499.72 1 Yr Total Return 35.60%
Total Debt 19'226.00 YTD Return 20.74%
Preferred Stock 0.0 Adjusted BETA 0.961
Minority Interest 940.0 Analyst Recs 37
Cash and Equivalents 746.00 Consensus Rating 3.459
Enterprise Value 101'182.65
Average Volume 5 Day 1'608'823
SAB LN EQUITY YTD Change - Average Volume 30 Day 1'994'878
SAB LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'925'772
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 12/yy 12/yy 03/13 Y 03/14 Y - -
17'057.0 14'883.0 14'195.0 15'145.0 16'713.0 - - 24'499.3 25'989.8 - -
2.50x 2.25x 4.08x 4.42x 5.16x - - 4.06x 3.75x - -
4'569.0 3'663.0 4'212.0 4'682.0 5'154.0 - - 6'424.3 7'025.7 - -
9.35x 9.13x 13.74x 14.30x 16.73x - - 15.75x 14.40x - -
2'023.0 1'881.0 1'910.0 2'408.0 4'221.0 - - 3'831.8 4'326.8 - -
16.26x 11.84x 23.94x 23.21x 15.05x - - 21.47x 19.07x - -
EBITDA 5'154.00 Long-Term Rating Date 04.08.2003
EBIT 3'972.00 Long-Term Rating BBB+
Operating Margin 23.77% Long-Term Outlook POS
Pretax Margin 33.52% Short-Term Rating Date 16.10.2006
Return on Assets 9.47% Short-Term Rating A-2
Return on Common Equity 18.88%
Return on Capital 15.36% EBITDA/Interest Exp. 4.72
Asset Turnover 0.37% (EBITDA-Capex)/Interest Exp. 3.37
Net Debt/EBITDA 3.29
Gross Margin - Total Debt/EBITDA 3.43
EBITDA Margin 31.7%
EBIT Margin 24.4% Total Debt/Equity 76.7%
Net Income Margin 25.3% Total Debt/Capital 42.5%
Asset Turnover 0.37
Current Ratio 0.68 Net Fixed Asset Turnover 1.91
Quick Ratio 0.32 Accounts receivable turnover-days 40.84
Debt to Assets 34.55% Inventory Days -
Tot Debt to Common Equity 76.68% Accounts Payable Turnover Day -
Accounts Receivable Turnover 8.96 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
SABMiller PLCPrice/Volume
Valuation Analysis
375'274.00
Current Price (3/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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2'000.0
3'000.0
4'000.0
5'000.0
6'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ALTRIA GROUP INC n/a RNS-MAJ 430'000'000 26.92 - 29.06.2012 Corporation
BEVCO INTERNATIONAL n/a Co File 225'000'000 14.09 - 08.06.2012 Corporation
PUBLIC INVESTMENT CO n/a Co File 67'663'248 4.24 - 08.06.2012 Government
KULCZYK HOLDING n/a Co File 60'000'000 3.76 - 08.06.2012 Holding Company
KULCZYK INVESTMENT H Multiple Portfolios REG 60'000'000 3.76 - 01.11.2012 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 35'298'676 2.21 (844'858) 28.02.2013 Unclassified
BLACKROCK n/a ULT-AGG 34'866'303 2.18 (1'720'544) 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 32'037'348 2.01 654'378 31.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 29'568'406 1.85 - 01.11.2012 Government
CAPITAL GROUP COMPAN n/a ULT-AGG 21'708'108 1.36 (755'600) 31.12.2012 Investment Advisor
ABERDEEN n/a ULT-AGG 21'361'342 1.34 (34'200) 28.02.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 19'161'032 1.2 (4'245'434) 30.11.2012 Unclassified
ALLAN GRAY UNIT TRUS Multiple Portfolios MF-AGG 15'304'821 0.96 (1'824'542) 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 12'499'774 0.78 - 31.01.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 12'259'520 0.77 2'453'239 01.11.2012 Government
OPPENHEIMERFUNDS INC Multiple Portfolios REG 10'980'964 0.69 (324'670) 01.11.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 10'028'599 0.63 (1'401'802) 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 9'864'730 0.62 182'666 01.11.2012 Investment Advisor
GARDNER RUSSO & GARD GARDNER RUSSO & GARD 13F 9'330'377 0.58 265'826 31.12.2012 Hedge Fund Manager
BNP PARIBAS INV PART n/a ULT-AGG 8'204'566 0.51 77'255 31.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
HSBC LAUREN E TORRES neutral 3 M 3'600 Not Provided 27.03.2013
Credit Suisse SANJEET AUJLA outperform 5 M 4'000 Not Provided 26.03.2013
Macquarie WYNAND VAN ZYL outperform 5 M 3'698 12 month 26.03.2013
Renaissance Capital REY WIUM sell 1 D 3'400 12 month 26.03.2013
Oriel Securities Ltd CHRIS WICKHAM add 4 M 3'760 Not Provided 26.03.2013
SBG Securities BRENDAN GRUNDLINGH hold 3 M 3'200 12 month 26.03.2013
Morgan Stanley VIKHYAT SHARMA Equalwt/In-Line 3 M 3'300 12 month 25.03.2013
Nomura IAN SHACKLETON neutral 3 M 2'840 12 month 25.03.2013
Sanford C. Bernstein & Co TREVOR STIRLING market perform 3 M 3'180 12 month 22.03.2013
AlphaValue ISABELLE COMBEMALE sell 1 D 3'033 6 month 21.03.2013
JPMorgan MATTHEW WEBB overweight 5 M 3'645 15 month 19.03.2013
Grupo Santander ANTHONY J BUCALO buy 5 M 3'675 Not Provided 12.03.2013
RBC Capital Markets JAMES EDWARDES JONES sector perform 3 M 3'500 12 month 11.03.2013
Canaccord Genuity Corp EDDY HARGREAVES hold 3 M 2'750 12 month 05.03.2013
Berenberg Bank PHILIP MORRISEY buy 5 M 3'800 Not Provided 01.03.2013
Barclays SIMON HALES equalweight 3 D 3'350 Not Provided 25.02.2013
Exane BNP Paribas JAVIER GONZALEZ LASTRA outperform 5 M 3'333 Not Provided 22.02.2013
Investec MARTIN DEBOO buy 5 M 2'950 12 month 15.02.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 11.02.2013
Liberum Capital Ltd PABLO ZUANIC sell 1 M 2'600 Not Provided 25.01.2013
Espirito Santo Investment Bank ResearchALEX SMITH neutral 3 M 2'860 Not Provided 23.01.2013
Natixis OLIVIER DELAHOUSSE neutral 3 M 3'000 Not Provided 23.01.2013
Societe Generale ANDREW HOLLAND hold 3 M 2'970 12 month 22.01.2013
Deutsche Bank JONATHAN FELL hold 3 M 2'900 12 month 22.01.2013
Jefferies DIRK VAN VLAANDEREN buy 5 M 3'200 12 month 22.01.2013
Shore Capital Stockbrokers PHIL CARROLL hold 3 M #N/A N/A Not Provided 22.01.2013
Bryan Garnier & Cie NIKOLAAS FAES neutral 3 M 2'633 6 month 22.01.2013
S&P Capital IQ CARL SHORT hold 3 M 3'100 12 month 22.01.2013
CA Cheuvreux ERIC BOROIAN outperform 5 M 2'950 Not Provided 21.01.2013
EVA Dimensions AUSTIN BURKETT sell 1 M #N/A N/A Not Provided 17.01.2013
Goldman Sachs MITCHELL COLLETT buy/attractive 5 M 3'520 12 month 09.01.2013
Redburn Partners CHRIS PITCHER buy 5 M #N/A N/A Not Provided 10.12.2012
Avior Research DE WET SCHUTTE underperform 1 M 2'641 Not Provided 19.10.2012
Afrifocus Securities TANUJA CHITRE hold 3 M #N/A N/A Not Provided 24.08.2012
Holdings By:
SABMiller PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Reckitt Benckiser Group PLC manufactures and distributes a wide range of
household, toiletry, pharmaceutical and food products on a global basis. The
Company's products include fabric treatments , disinfectant spray and cleaners,
dishwashing detergent, personal care, food, and prescription drugs.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (26.03.2013) 4'850.00
52-Week Low (28.06.2012) 3'274.00
Daily Volume
4767
52-Week High % Change -1.77% Dividend Yield 2.81
52-Week Low % Change 45.51% Beta 0.66
% 52 Week Price Range High/Low 97.59% Equity Float 636.76
Shares Out 26.03.2013 716.6 Short Int -
34'158.73 1 Yr Total Return 38.34%
Total Debt 3'274.00 YTD Return 24.90%
Preferred Stock 0.0 Adjusted BETA 0.659
Minority Interest 1.0 Analyst Recs 35
Cash and Equivalents 891.00 Consensus Rating 2.829
Enterprise Value 36'542.73
Average Volume 5 Day 1'256'764
RB/ LN EQUITY YTD Change - Average Volume 30 Day 1'269'506
RB/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'075'968
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
6'563.0 7'753.0 8'453.0 9'485.0 9'567.0 2'169.5 2'197.5 10'109.4 10'596.5 2'452.0 2'473.0
2.96x 3.10x 3.28x 2.65x 3.23x 11.81x 10.67x 3.58x 3.33x - -
1'612.0 2'030.0 2'375.0 2'644.0 2'718.0 796.1 701.7 2'773.4 2'922.0 - -
12.05x 11.84x 11.66x 9.49x 11.36x 5.53x 8.27x 13.18x 12.51x - -
1'120.0 1'418.0 1'568.0 1'745.0 1'829.0 452.8 328.9 1'949.1 2'043.3 - -
16.36x 16.87x 16.28x 13.26x 15.36x 13.38x 18.34x 17.96x 16.99x - -
EBITDA 2'718.00 Long-Term Rating Date 16.12.2003
EBIT 2'570.00 Long-Term Rating A+
Operating Margin 26.86% Long-Term Outlook STABLE
Pretax Margin 25.30% Short-Term Rating Date 01.05.1990
Return on Assets 12.52% Short-Term Rating A-1
Return on Common Equity 31.45%
Return on Capital 21.32% EBITDA/Interest Exp. 66.29
Asset Turnover 0.66% (EBITDA-Capex)/Interest Exp. 62.24
Net Debt/EBITDA 0.88
Gross Margin 57.9% Total Debt/EBITDA 1.20
EBITDA Margin 28.4%
EBIT Margin 26.9% Total Debt/Equity 55.3%
Net Income Margin 19.1% Total Debt/Capital 35.6%
Asset Turnover 0.66
Current Ratio 0.47 Net Fixed Asset Turnover 13.03
Quick Ratio 0.14 Accounts receivable turnover-days -
Debt to Assets 21.71% Inventory Days 67.80
Tot Debt to Common Equity 55.29% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 23.86
Inventory Turnover 5.40
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
Reckitt Benckiser Group PLCPrice/Volume
Valuation Analysis
453'288.00
Current Price (3/dd/yy) Market Data
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500.0
1'000.0
1'500.0
2'000.0
2'500.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JAB INVESTMENTS BV Multiple Portfolios REG 76'659'342 10.7 - 03.12.2012 Unclassified
SUN LIFE FINANCIAL I n/a ULT-AGG 36'115'649 5.04 97'110 31.01.2013 Investment Advisor
INVESCO LTD n/a RNS-MAJ 35'939'131 5.02 (3'521'895) 11.02.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 31'502'568 4.4 (1'151'170) 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 30'898'866 4.31 2'518'375 31.01.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 24'940'741 3.48 1'434'693 28.02.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 16'359'039 2.28 6'346'254 03.12.2012 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 15'260'822 2.13 154'056 03.12.2012 Government
MORGAN STANLEY n/a ULT-AGG 13'704'925 1.91 203'806 31.12.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 13'054'020 1.82 - 31.01.2013 Investment Advisor
MORGAN STANLEY INVES Multiple Portfolios REG 12'921'988 1.8 131'837 03.12.2012 Investment Advisor
MORGAN STANLEY INVES Multiple Portfolios REG 12'791'415 1.79 1'135'192 03.12.2012 Investment Advisor
PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 11'262'286 1.57 - 31.03.2012 Investment Advisor
WALTER SCOTT & PARTN Multiple Portfolios REG 10'715'075 1.5 2'130'744 03.12.2012 Investment Advisor
CEDAR ROCK CAPITAL L Multiple Portfolios REG 8'962'334 1.25 3'028'426 03.12.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 7'394'843 1.03 - 03.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios REG 7'286'409 1.02 294'364 03.12.2012 Investment Advisor
UBS n/a ULT-AGG 7'024'809 0.98 (645'354) 31.01.2013 Unclassified
VANGUARD GROUP INC Multiple Portfolios MF-AGG 6'986'024 0.97 307'932 31.12.2012 Investment Advisor
FIRST MANHATTAN CO A FIRST MANHATTAN COMP 13F 6'769'218 0.94 26'600 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Panmure Gordon & Co Limited GRAHAM JONES hold 3 M 4'700 Not Provided 26.03.2013
Sanford C. Bernstein & Co ANDREW WOOD outperform 5 M 5'000 12 month 25.03.2013
AlphaValue ARMELLE MOULIN reduce 2 M 4'543 6 month 21.03.2013
Oriel Securities Ltd CHRIS WICKHAM add 4 M 4'700 Not Provided 13.03.2013
Grupo Santander PEDRO GIL hold 3 M 4'200 Not Provided 12.03.2013
RBC Capital Markets JAMES EDWARDES JONES underperform 1 M 4'500 12 month 11.03.2013
Credit Suisse CHARLES MILLS neutral 3 M 4'900 Not Provided 11.03.2013
Berenberg Bank SETH PETERSON hold 3 M 4'490 Not Provided 11.03.2013
Liberum Capital Ltd PABLO ZUANIC sell 1 M 3'500 Not Provided 08.03.2013
Morgan Stanley ERIK SJOGREN Equalwt/In-Line 3 M 4'300 12 month 07.03.2013
Goldman Sachs ROSIE EDWARDS neutral/attractive 3 M 4'320 12 month 07.03.2013
Canaccord Genuity Corp EDDY HARGREAVES sell 1 M 3'425 12 month 05.03.2013
Societe Generale CHAS MANSO DE ZUNIGA sell 1 M 4'000 12 month 26.02.2013
Mirabaud Securities JULIAN LAKIN hold 3 M 3'950 12 month 26.02.2013
Investec MARTIN DEBOO sell 1 M 4'260 12 month 25.02.2013
JPMorgan CELINE PANNUTI neutral 3 M 4'300 9 month 25.02.2013
Jefferies ALEX HOWSON hold 3 M 3'640 12 month 25.02.2013
Exane BNP Paribas EAMONN FERRY underperform 1 M 4'000 Not Provided 25.02.2013
Independent Research GmbH LARS LUSEBRINK hold 3 M 4'700 12 month 15.02.2013
Raymond James HERMINE DE BENTZMANN outperform 5 M 4'630 Not Provided 14.02.2013
HSBC CEDRIC BESNARD neutral 3 M 4'700 Not Provided 14.02.2013
Nomura GUILLAUME DELMAS buy 5 M 4'900 Not Provided 14.02.2013
Barclays IAIN SIMPSON underweight 1 M 3'700 Not Provided 14.02.2013
Commerzbank Corporates & Markets ANDREAS RIEMANN hold 3 M 4'300 6 month 13.02.2013
Deutsche Bank HAROLD THOMPSON buy 5 M 4'800 12 month 13.02.2013
Shore Capital Stockbrokers DARREN SHIRLEY hold 3 M #N/A N/A Not Provided 13.02.2013
S&P Capital IQ CARL SHORT hold 3 M 4'600 12 month 13.02.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 28.01.2013
CA Cheuvreux ERIC BOROIAN underperform 1 M 3'750 Not Provided 21.01.2013
EVA Dimensions AUSTIN BURKETT hold 3 M #N/A N/A Not Provided 17.01.2013
Redburn Partners JEREMY FIALKO sell 1 M #N/A N/A Not Provided 24.09.2012
Espirito Santo Investment Bank ResearchALEX SMITH sell 1 M 3'140 Not Provided 14.09.2012
Holdings By:
Reckitt Benckiser Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Tesco plc is a food retailer. The Group operates stores in the United Kingdom,
Republic of Ireland, Czech Republic, Hungary, Poland, Slovakia, Turkey, Japan,
Malaysia, South Korea, China, Thailand, and the United States.
Latest Fiscal Year: 02/2012
LTM as of: 12/yy
52-Week High (15.03.2013) 387.35
52-Week Low (06.06.2012) 294.50
Daily Volume
375.3
52-Week High % Change -3.20% Dividend Yield 3.94
52-Week Low % Change 27.32% Beta 0.73
% 52 Week Price Range High/Low 84.81% Equity Float 7'643.56
Shares Out 01.03.2013 8'054.7 Short Int -
30'229.15 1 Yr Total Return 16.04%
Total Debt 11'749.00 YTD Return 11.59%
Preferred Stock 0.0 Adjusted BETA 0.726
Minority Interest 26.0 Analyst Recs 32
Cash and Equivalents 3'548.00 Consensus Rating 3.500
Enterprise Value 38'344.15
Average Volume 5 Day 14'365'660
TSCO LN EQUITY YTD Change - Average Volume 30 Day 15'072'880
TSCO LN EQUITY YTD % CHANGE - Average Volume 3 Month 15'425'250
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
29.02.2008 28.02.2009 28.02.2010 28.02.2011 29.02.2012 12/yy 12/yy 02/13 Y 02/14 Y 08/11 Q2 11/11 Q3
47'298.0 53'898.0 56'910.0 60'455.0 64'539.0 - - 66'173.0 69'012.3 - -
0.79x 0.70x 0.75x 0.67x 0.52x - - 0.56x 0.51x - -
3'595.0 4'122.0 4'464.0 4'905.0 5'107.0 - - 4'969.3 5'237.4 - -
10.42x 9.09x 9.57x 8.23x 6.62x - - 7.72x 7.32x - -
2'124.0 2'133.0 2'327.0 2'655.0 2'806.0 - - 2'574.8 2'729.9 - -
14.85x 12.28x 14.31x 11.79x 8.66x - - 11.91x 11.27x - -
EBITDA 5'107.00 Long-Term Rating Date 29.07.2008
EBIT 3'609.00 Long-Term Rating A-
Operating Margin 5.59% Long-Term Outlook NEG
Pretax Margin 5.94% Short-Term Rating Date 29.07.2008
Return on Assets 5.38% Short-Term Rating A-2
Return on Common Equity 15.74%
Return on Capital 10.57% EBITDA/Interest Exp. 9.17
Asset Turnover 1.29% (EBITDA-Capex)/Interest Exp. 3.11
Net Debt/EBITDA 1.64
Gross Margin 8.2% Total Debt/EBITDA 2.55
EBITDA Margin 7.6%
EBIT Margin 5.2% Total Debt/Equity 66.1%
Net Income Margin 4.3% Total Debt/Capital 39.8%
Asset Turnover 1.29
Current Ratio 0.67 Net Fixed Asset Turnover 2.54
Quick Ratio 0.18 Accounts receivable turnover-days -
Debt to Assets 23.14% Inventory Days 21.92
Tot Debt to Common Equity 66.10% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 16.61
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
Tesco PLCPrice/Volume
Valuation Analysis
5'085'111.00
Current Price (3/dd/yy) Market Data
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3 ! F
4 ! F
5 ! F
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1'000.0
2'000.0
3'000.0
4'000.0
5'000.0
6'000.0
7'000.0
8'000.0
9'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BERKSHIRE HATHAWAY I n/a ULT-AGG 408'516'187 5.07 - 01.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 399'699'734 4.96 4'456'725 01.01.2013 Government
BLACKROCK n/a ULT-AGG 398'866'198 4.95 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 288'620'387 3.58 (597'509) 01.01.2013 Unclassified
FRANKLIN RESOURCES n/a ULT-AGG 249'889'001 3.1 (342'521) 28.02.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 165'943'974 2.06 31'939'698 01.01.2013 Unclassified
UBS n/a ULT-AGG 118'272'907 1.47 8'061'010 31.01.2013 Unclassified
FMR LLC n/a ULT-AGG 108'307'467 1.34 18'452'445 31.01.2013 Investment Advisor
MONDRIAN INVESTMENT Multiple Portfolios REG 107'524'181 1.33 (407'143) 01.01.2013 Hedge Fund Manager
WALTER SCOTT & PARTN Multiple Portfolios REG 105'137'452 1.31 11'857'234 01.01.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 99'385'239 1.23 8'288'371 01.01.2013 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 90'584'501 1.12 (26'435) 31.12.2012 Investment Advisor
GEICO CORP Multiple Portfolios REG 90'000'000 1.12 - 01.01.2013 Unclassified
VANGUARD GROUP INC Multiple Portfolios REG 89'847'553 1.12 3'707'992 01.01.2013 Investment Advisor
ALECTA INVESTMENT MA Multiple Portfolios REG 86'150'000 1.07 - 01.01.2013 Unclassified
M&G INVESTMENT MANAG Multiple Portfolios REG 83'932'359 1.04 1'917'566 01.01.2013 Investment Advisor
SILCHESTER INTL INVE Multiple Portfolios REG 81'651'783 1.01 20'121'589 01.01.2013 Investment Advisor
ABERDEEN n/a ULT-AGG 75'403'434 0.94 168'248 28.02.2013 Unclassified
STATE STREET n/a ULT-AGG 74'866'027 0.93 1'218'140 26.03.2013 Investment Advisor
GENERAL REINSURANCE Multiple Portfolios REG 72'862'000 0.9 - 01.01.2013 Insurance Company
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies JAMES GRZINIC buy 5 M 440 12 month 26.03.2013
Cantor Fitzgerald MICHAEL J DENNIS buy 5 M 443 Not Provided 26.03.2013
Oriel Securities Ltd JONATHAN PRITCHARD buy 5 M 400 Not Provided 26.03.2013
JPMorgan JAIME VAZQUEZ overweight 5 M 425 9 month 25.03.2013
AlphaValue VIRGINIE BLIN reduce 2 M 380 6 month 21.03.2013
Shore Capital Stockbrokers CLIVE WILLIAM BLACK buy 5 M #N/A N/A Not Provided 19.03.2013
Exane BNP Paribas JOHN KERSHAW neutral 3 M 375 Not Provided 13.03.2013
Morgan Stanley EDOUARD AUBIN Underwt/In-Line 1 M 310 12 month 11.03.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 11.03.2013
Credit Suisse ANDREW KASOULIS outperform 5 U 430 Not Provided 06.03.2013
Panmure Gordon & Co Limited PHILIP DORGAN buy 5 M 440 Not Provided 06.03.2013
Nomura NICK COULTER buy 5 M 430 12 month 26.02.2013
Redburn Partners MARC DE SPEVILLE neutral 3 M #N/A N/A Not Provided 15.02.2013
Baader Bank VOLKER BOSSE buy 5 U 410 12 month 12.02.2013
Macquarie SREEDHAR MAHAMKALI outperform 5 M 400 12 month 23.01.2013
EVA Dimensions AUSTIN BURKETT hold 3 M #N/A N/A Not Provided 17.01.2013
Independent Research GmbH ZAFER RUZGAR buy 5 M 420 12 month 11.01.2013
HSBC JEROME SAMUEL overweight 5 M 410 Not Provided 10.01.2013
Aurel - BGC JEAN-MARIE L'HOME sell 1 M 300 Not Provided 10.01.2013
S&P Capital IQ WILLIAM MACK buy 5 M 380 12 month 10.01.2013
Espirito Santo Investment Bank ResearchCAROLINE GULLIVER sell 1 M 275 Not Provided 08.01.2013
Barclays JAMES ANSTEAD equalweight 3 M 360 Not Provided 04.01.2013
Investec DAVID MCCARTHY sell 1 M 295 12 month 04.10.2012
CA Cheuvreux ARNAUD JOLY underperform 1 M 320 Not Provided 04.10.2012
Natixis PIERRE-EDOUARD BOUDOT reduce 2 D 300 Not Provided 04.10.2012
Deutsche Bank JAMES G COLLINS buy 5 M 394 12 month 24.09.2012
Kepler Capital Markets FABIENNE CARON hold 3 N 298 Not Provided 28.06.2012
Goldman Sachs FRANKLIN WALDING neutral/neutral 3 M 375 12 month 01.05.2012
Merchant Securities AMISHA CHOHAN hold 3 M #N/A N/A Not Provided 18.04.2012
Holdings By:
Tesco PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Prudential plc is an international company which provides a wide assortment of
insurance and investment products and services. Insurance products include life,
accident and health, property and casualty insurance, as well as fixed and
variable annuities. Financial and investment services include personal and
group pensions, equity plans, mortgages and deposit accounts.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (14.03.2013) 1'178.00
52-Week Low (01.06.2012) 654.50
Daily Volume
1055
52-Week High % Change -10.95% Dividend Yield 2.78
52-Week Low % Change 60.28% Beta 1.37
% 52 Week Price Range High/Low 84.72% Equity Float 2'447.69
Shares Out 01.03.2013 2'557.3 Short Int -
26'979.45 1 Yr Total Return 38.61%
Total Debt 6'832.00 YTD Return 23.60%
Preferred Stock 0.0 Adjusted BETA 1.371
Minority Interest 5.0 Analyst Recs 27
Cash and Equivalents 5'074.00 Consensus Rating 4.074
Enterprise Value 28'742.45
Average Volume 5 Day 4'739'749
PRU LN EQUITY YTD Change - Average Volume 30 Day 4'435'634
PRU LN EQUITY YTD % CHANGE - Average Volume 3 Month 3'964'871
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/12 Q1 06/12 Q2
(10'269.0) 48'099.0 47'646.0 36'506.0 55'476.0 4'754.0 4'680.0 57'898.0 59'358.0 933.1 -
- 0.38x 0.39x 0.47x 0.43x 7.81x 9.01x 0.36x 0.35x - -
- - - - - 1'796.0 1'836.0 - - - -
- - - - - 4.72x 4.72x - - - -
(396.0) 676.0 1'431.0 1'490.0 2'197.0 928.0 924.0 2'014.8 2'240.3 - -
- 23.20x 11.78x 10.85x 10.01x 11.17x 11.05x 13.20x 11.92x - -
EBITDA - Long-Term Rating Date 17.08.2010
EBIT - Long-Term Rating A+
Operating Margin 5.57% Long-Term Outlook NEG
Pretax Margin 5.07% Short-Term Rating Date 17.08.2010
Return on Assets 0.75% Short-Term Rating A-1
Return on Common Equity 22.56%
Return on Capital 14.10% EBITDA/Interest Exp. -
Asset Turnover 0.19% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 66.0%
Net Income Margin 4.0% Total Debt/Capital 39.7%
Asset Turnover 0.19
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 2.20% Inventory Days -
Tot Debt to Common Equity 65.95% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Prudential PLCPrice/Volume
Valuation Analysis
2'222'867.00
Current Price (3/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
1'000.0
2'000.0
3'000.0
4'000.0
5'000.0
6'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL GROUP COMPAN n/a ULT-AGG 256'652'047 10.04 - 01.01.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 128'527'550 5.03 1'911'502 25.03.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 109'343'285 4.28 - 01.01.2013 Government
LEGAL & GENERAL n/a ULT-AGG 104'285'746 4.08 (136'942) 01.01.2013 Unclassified
BAILLIE GIFFORD AND Multiple Portfolios REG 88'407'117 3.46 401'633 01.01.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 73'996'286 2.89 3'700'201 01.01.2013 Unclassified
FMR LLC n/a ULT-AGG 72'178'671 2.82 17'691'038 31.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 53'089'266 2.08 (685'857) 31.12.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 47'303'661 1.85 (3'596'819) 01.01.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 46'730'225 1.83 5'884'645 31.01.2013 Unclassified
UBS n/a ULT-AGG 41'823'885 1.64 (4'347'489) 31.01.2013 Unclassified
JANUS CAPITAL MANAGE n/a ULT-AGG 39'310'345 1.54 (7'205'386) 01.01.2013 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios REG 33'734'493 1.32 (3'852'887) 01.01.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 32'116'464 1.26 - 01.01.2013 Government
VANGUARD GROUP INC Multiple Portfolios REG 29'093'870 1.14 1'381'546 01.01.2013 Investment Advisor
LAZARD ASSET MANAGEM n/a ULT-AGG 25'199'103 0.99 (468'132) 28.02.2013 Unclassified
AEGON n/a ULT-AGG 24'499'349 0.96 (6'815'149) 01.01.2013 Unclassified
HSBC INVESTMENTS UK Multiple Portfolios REG 24'085'771 0.94 (189'080) 01.01.2013 Investment Advisor
AVIVA INVESTORS Multiple Portfolios REG 23'132'403 0.9 2'472'324 01.01.2013 Investment Advisor
MORGAN STANLEY INVES Multiple Portfolios REG 22'537'114 0.88 (2'815'055) 01.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Exane BNP Paribas ANDY HUGHES underperform 1 M 835 Not Provided 27.03.2013
Panmure Gordon & Co Limited BARRIE CORNES buy 5 M 1'160 Not Provided 26.03.2013
HSBC KAILESH MISTRY overweight 5 M 1'375 Not Provided 22.03.2013
EVA Dimensions AUSTIN BURKETT hold 3 U #N/A N/A Not Provided 22.03.2013
AlphaValue JEROME CASSAGNE sell 1 D 911 6 month 21.03.2013
Berenberg Bank MATTHEW PRESTON buy 5 M 1'350 Not Provided 20.03.2013
Redburn Partners LANCE BURBIDGE buy 5 M #N/A N/A Not Provided 20.03.2013
Day by Day VALERIE GASTALDY buy 5 M 1'200 3 month 18.03.2013
Goldman Sachs COLIN L SIMPSON Buy/Neutral 5 M 1'350 12 month 15.03.2013
Shore Capital Stockbrokers EAMONN FLANAGAN buy 5 M #N/A N/A Not Provided 15.03.2013
Credit Suisse CHRIS ESSON outperform 5 M 1'300 Not Provided 14.03.2013
Keefe, Bruyette & Woods GREIG N PATERSON market perform 3 M 950 12 month 13.03.2013
Sanford C. Bernstein & Co EDWARD HOUGHTON outperform 5 M 1'055 12 month 13.03.2013
S&P Capital IQ RODERICK WALLACE buy 5 D 1'250 12 month 13.03.2013
Oriel Securities Ltd MARCUS BARNARD buy 5 M 900 Not Provided 13.03.2013
JPMorgan ASHIK MUSADDI underweight 1 M 781 9 month 11.03.2013
RBC Capital Markets GORDON AITKEN outperform 5 M 910 12 month 20.02.2013
Morgan Stanley JON HOCKING Overwt/In-Line 5 M 1'135 12 month 11.02.2013
Macquarie NEIL WELCH neutral 3 M 1'000 12 month 05.02.2013
Barclays ALAN DEVLIN overweight 5 M 1'023 Not Provided 04.02.2013
Deutsche Bank OLIVER STEEL buy 5 M 1'060 12 month 24.01.2013
Investec KEVIN RYAN hold 3 M 831 12 month 07.01.2013
Societe Generale ABID HUSSAIN buy 5 M 900 12 month 03.12.2012
Nomura FAHAD CHANGAZI reduce 2 M 680 Not Provided 15.08.2012
Daiwa Securities Co. Ltd. TIM PROUDLOVE outperform 5 M 812 6 month 01.07.2011
Holdings By:
Prudential PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
National Grid PLC is an investor-owned utility company which distributes gas.
The PLC owns and operates the electricity transmission network in England and
Wales, the gas transmission network in Great Britain, and electricity
transmission networks in the Northeastern United States. National Grid also
operates the electricity transmission networks in Scotland.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (25.03.2013) 761.00
52-Week Low (30.03.2012) 622.50
Daily Volume
745.5
52-Week High % Change -2.04% Dividend Yield 5.34
52-Week Low % Change 19.76% Beta 0.48
% 52 Week Price Range High/Low 92.78% Equity Float 3'554.87
Shares Out 01.03.2013 3'664.7 Short Int -
27'320.61 1 Yr Total Return 25.30%
Total Debt 23'025.00 YTD Return 6.05%
Preferred Stock 0.0 Adjusted BETA 0.478
Minority Interest 7.0 Analyst Recs 23
Cash and Equivalents 2'723.00 Consensus Rating 3.478
Enterprise Value 48'255.61
Average Volume 5 Day 7'055'941
NG/ LN EQUITY YTD Change - Average Volume 30 Day 7'462'578
NG/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 6'748'207
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 12/yy 12/yy 03/13 Y 03/14 Y - -
11'423.0 15'624.0 14'007.0 14'343.0 13'832.0 - - 14'424.9 14'962.4 - -
3.20x 2.41x 2.84x 2.90x 3.16x - - 3.39x 3.35x - -
3'589.0 4'037.0 4'309.0 4'845.0 4'777.0 - - 5'088.6 5'413.5 - -
10.20x 9.34x 9.24x 8.58x 9.14x - - 9.48x 8.91x - -
3'190.0 944.0 1'386.0 2'159.0 2'036.0 - - 1'952.8 2'008.1 - -
11.47x 14.32x 13.25x 9.30x 11.04x - - 13.96x 13.58x - -
EBITDA 4'777.00 Long-Term Rating Date 24.08.2007
EBIT 3'495.00 Long-Term Rating A-
Operating Margin 25.27% Long-Term Outlook STABLE
Pretax Margin 18.50% Short-Term Rating Date 24.08.2007
Return on Assets 4.79% Short-Term Rating A-2
Return on Common Equity 26.24%
Return on Capital 12.28% EBITDA/Interest Exp. 2.04
Asset Turnover 0.28% (EBITDA-Capex)/Interest Exp. 0.70
Net Debt/EBITDA 4.19
Gross Margin - Total Debt/EBITDA 4.83
EBITDA Margin 36.7%
EBIT Margin 27.0% Total Debt/Equity 249.2%
Net Income Margin 14.7% Total Debt/Capital 71.3%
Asset Turnover 0.28
Current Ratio 0.94 Net Fixed Asset Turnover 0.40
Quick Ratio 0.61 Accounts receivable turnover-days -
Debt to Assets 48.64% Inventory Days -
Tot Debt to Common Equity 249.22% 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
National Grid PLCPrice/Volume
Valuation Analysis
1'499'584.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL GROUP COMPAN n/a ULT-AGG 399'638'038 10.9 (35'637'904) 21.02.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 182'630'798 4.98 - 25.03.2013 Investment Advisor
CRESCENT HOLDING GMB Multiple Portfolios REG 149'414'285 4.08 - 03.12.2012 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 132'427'487 3.61 2'720'054 03.12.2012 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 94'750'614 2.59 15'922'916 03.12.2012 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 90'428'903 2.47 1'757'999 03.12.2012 Government
M&G INVESTMENT MANAG Multiple Portfolios REG 69'496'919 1.9 (1'736'674) 03.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 66'845'989 1.82 (12'319'399) 31.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 60'226'673 1.64 3'422'249 31.12.2012 Investment Advisor
BREWIN DOLPHIN LIMIT Multiple Portfolios REG 44'812'821 1.22 (2'034'154) 03.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 43'614'734 1.19 4'093'896 03.12.2012 Investment Advisor
STOCK LENDING ACCOUN Multiple Portfolios REG 42'803'435 1.17 18'660'830 03.12.2012 Other
STATE STREET n/a ULT-AGG 37'994'117 1.04 (1'278'846) 26.03.2013 Investment Advisor
AXA n/a ULT-AGG 35'193'432 0.96 (2'110'950) 31.01.2013 Investment Advisor
DEUTSCHE BANK PROP T Multiple Portfolios REG 34'419'117 0.94 19'219'117 03.12.2012 Other
PEOPLES REPUBLIC OF Multiple Portfolios REG 33'236'568 0.91 - 03.12.2012 Government
HSBC INVESTMENTS UK Multiple Portfolios REG 28'398'916 0.77 14'402'655 03.12.2012 Investment Advisor
NOMURA n/a ULT-AGG 27'260'666 0.74 5'959'620 03.12.2012 Unclassified
GOVT OF SINGAPORE IN n/a ULT-AGG 24'997'793 0.68 1'333'083 03.12.2012 Government
FEDERATED INVESTORS Multiple Portfolios MF-AGG 24'687'411 0.67 1'812'745 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets JOHN MUSK outperform 5 M 800 12 month 26.03.2013
Exane BNP Paribas IAIN TURNER outperform 5 M 780 Not Provided 25.03.2013
HSBC VERITY MITCHELL overweight 5 U 850 Not Provided 21.03.2013
AlphaValue MYRIAM COHEN reduce 2 M 692 6 month 21.03.2013
Credit Suisse MARK FRESHNEY outperform 5 M 800 Not Provided 20.03.2013
JPMorgan EDMUND REID neutral 3 U 720 12 month 18.03.2013
Societe Generale ASHLEY THOMAS sell 1 M 634 12 month 11.03.2013
Goldman Sachs ANDREW MEAD Sell/Neutral 1 M 604 12 month 11.03.2013
Redburn Partners JAMIE TUNNICLIFFE buy 5 M #N/A N/A Not Provided 08.03.2013
Nomura JONATHAN CONSTABLE buy 5 M 735 12 month 28.02.2013
Cantor Fitzgerald ANGELOS ANASTASIOU sell 1 N 617 Not Provided 11.02.2013
Berenberg Bank LAWSON STEELE hold 3 N 700 Not Provided 05.02.2013
S&P Capital IQ CLIVE ROBERTS hold 3 M 727 12 month 29.01.2013
Liberum Capital Ltd GUILLAUME REDGWELL hold 3 N 730 Not Provided 25.01.2013
Barclays PETER BISZTYGA overweight 5 M 785 Not Provided 25.01.2013
EVA Dimensions AUSTIN BURKETT underweight 1 M #N/A N/A Not Provided 17.01.2013
Deutsche Bank MARTIN BROUGH sell 1 M 600 12 month 07.01.2013
Day by Day VALERIE GASTALDY buy 5 M 786 3 month 04.01.2013
Morgan Stanley BOBBY CHADA Overwt/In-Line 5 M 775 12 month 13.12.2012
Independent Research GmbH SVEN DIERMEIER hold 3 M 710 12 month 21.11.2012
Holdings By:
National Grid PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Anglo American PLC is a global mining company. The Company's mining portfolio
includes bulk commodities including iron ore, manganese and metallurgical
coal, base metals including copper and nickel and precious metals and minerals
including platinum and diamonds. Anglo American PLC has mining operations in
Africa, Europe, North and South America, Asia and Australia.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (27.03.2012) 2'501.50
52-Week Low (16.11.2012) 1'662.50
Daily Volume
1724
52-Week High % Change -31.02% Dividend Yield 3.26
52-Week Low % Change 3.79% Beta 1.41
% 52 Week Price Range High/Low 8.76% Equity Float 1'226.37
Shares Out 22.03.2013 1'393.7 Short Int -
24'027.12 1 Yr Total Return -26.29%
Total Debt 16'760.00 YTD Return -7.10%
Preferred Stock 0.0 Adjusted BETA 1.414
Minority Interest 6'130.0 Analyst Recs 32
Cash and Equivalents 9'094.00 Consensus Rating 2.875
Enterprise Value 50'085.36
Average Volume 5 Day 3'288'992
AAL LN EQUITY YTD Change - Average Volume 30 Day 3'623'367
AAL LN EQUITY YTD % CHANGE - Average Volume 3 Month 3'298'304
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
26'311.0 20'858.0 27'960.0 30'580.0 28'761.0 - - 34'232.7 35'791.3 - -
1.61x 3.39x 2.84x 1.75x 1.97x - - 1.53x 1.51x - -
9'986.0 4'465.0 10'301.0 11'379.0 7'682.0 - - 9'904.2 10'782.7 - -
4.23x 15.82x 7.71x 4.69x 7.37x - - 5.06x 4.64x - -
5'215.0 2'425.0 6'544.0 6'169.0 (1'493.0) - - 2'962.9 3'672.3 - -
5.19x 21.67x 9.58x 7.24x - - - 11.24x 9.25x - -
EBITDA 7'682.00 Long-Term Rating Date 18.04.2011
EBIT 5'393.00 Long-Term Rating BBB+
Operating Margin 18.75% Long-Term Outlook NEG
Pretax Margin -0.83% Short-Term Rating Date 19.04.2010
Return on Assets -1.97% Short-Term Rating A-2
Return on Common Equity -3.89%
Return on Capital - EBITDA/Interest Exp. 7.08
Asset Turnover 0.38% (EBITDA-Capex)/Interest Exp. 1.91
Net Debt/EBITDA 1.00
Gross Margin 33.9% Total Debt/EBITDA 2.18
EBITDA Margin 26.7%
EBIT Margin 18.8% Total Debt/Equity 44.5%
Net Income Margin -5.2% Total Debt/Capital 27.7%
Asset Turnover 0.38
Current Ratio 2.34 Net Fixed Asset Turnover 0.67
Quick Ratio 1.32 Accounts receivable turnover-days 33.24
Debt to Assets 21.12% Inventory Days -
Tot Debt to Common Equity 44.51% Accounts Payable Turnover Day -
Accounts Receivable Turnover 11.01 Cash Conversion Cycle 64.36
Inventory Turnover -
Fiscal Year Ended
Anglo American PLCPrice/Volume
Valuation Analysis
1'013'873.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 78'986'629 5.67 - 25.03.2013 Investment Advisor
PUBLIC INVESTMENT CO Multiple Portfolios REG 77'592'603 5.57 - 01.11.2012 Government
LEGAL & GENERAL n/a ULT-AGG 51'483'011 3.69 421'636 28.02.2013 Unclassified
TARL INVESTMENT HOLD Multiple Portfolios REG 47'275'613 3.39 - 01.11.2012 Unclassified
EPOCH TWO INVESTMENT Multiple Portfolios REG 42'166'686 3.03 - 01.11.2012 Unclassified
FMR LLC n/a ULT-AGG 31'057'459 2.23 2'876'024 31.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 29'466'453 2.11 (2'557'012) 01.11.2012 Government
SCOTTISH WIDOWS n/a ULT-AGG 29'199'945 2.1 3'632'677 30.11.2012 Unclassified
E OPPENHEIMER & SON Multiple Portfolios REG 25'200'000 1.81 - 01.11.2012 Other
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 21'574'878 1.55 3'080'902 31.01.2013 Investment Advisor
UBS n/a ULT-AGG 17'579'059 1.26 497'364 31.01.2013 Unclassified
PEOPLES REPUBLIC OF Multiple Portfolios REG 17'290'964 1.24 - 01.11.2012 Government
OPPENHEIMERFUNDS INC Multiple Portfolios REG 15'661'337 1.12 6'944'224 01.11.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 14'290'980 1.03 549'175 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 14'199'373 1.02 1'122'571 01.11.2012 Investment Advisor
CORONATION ASSET MAN Multiple Portfolios MF-AGG 11'914'195 0.85 1'346'501 31.12.2012 Investment Advisor
GOVT OF SINGAPORE IN n/a ULT-AGG 10'535'767 0.76 1'922'748 01.11.2012 Government
AVIVA INVESTORS Multiple Portfolios REG 10'437'360 0.75 (639'640) 01.11.2012 Investment Advisor
STATE STREET n/a ULT-AGG 9'755'061 0.7 383'534 26.03.2013 Investment Advisor
Northern Cross Inter Multiple Portfolios REG 9'024'700 0.65 95'026 01.11.2012 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets DES KILALEA underperform 1 D 1'800 12 month 26.03.2013
Sanford C. Bernstein & Co PAUL GAIT outperform 5 M 2'300 12 month 22.03.2013
S&P Capital IQ JOHNSON IMODE sell 1 D 1'640 12 month 21.03.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 21.03.2013
Exane BNP Paribas RAPHAEL VEVERKA underperform 1 M 1'700 Not Provided 21.03.2013
AlphaValue SACHIN KUMAR add 4 M 2'073 6 month 21.03.2013
Jefferies Christopher LaFemina buy 5 M 2'450 12 month 20.03.2013
Goldman Sachs EUGENE KING Sell/Neutral 1 M 1'450 12 month 19.03.2013
Macquarie KIERAN DALY outperform 5 M 2'250 12 month 18.03.2013
Morgan Stanley MENNO SANDERSE Equalwt/In-Line 3 M 2'080 12 month 15.03.2013
Liberum Capital Ltd BEN DAVIS hold 3 M #N/A N/A Not Provided 15.03.2013
Nomura SAM CATALANO reduce 2 D 1'700 Not Provided 04.03.2013
EVA Dimensions CRAIG STERLING underweight 1 D #N/A N/A Not Provided 22.02.2013
Societe Generale ALAIN WILLIAM sell 1 M 1'900 12 month 19.02.2013
Independent Research GmbH SVEN DIERMEIER sell 1 M 1'800 12 month 19.02.2013
Deutsche Bank GRANT SPORRE buy 5 M 2'290 12 month 18.02.2013
Credit Suisse LIAM FITZPATRICK neutral 3 M 2'100 Not Provided 18.02.2013
JPMorgan FRASER JAMIESON underweight 1 M 1'640 9 month 18.02.2013
Natixis RAOUDHA BOUZEKRI neutral 3 M 1'900 Not Provided 18.02.2013
SBG Securities PETER DAVEY sell 1 M 2'000 12 month 18.02.2013
BMO Capital Markets TONY ROBSON market perform 3 M 2'200 Not Provided 15.02.2013
HSBC ANDREW KEEN overweight 5 U 2'240 Not Provided 07.02.2013
Imara STEPHEN MEINTJES hold 3 N #N/A N/A Not Provided 17.01.2013
Investec ALBERT MINASSIAN hold 3 M 2'259 Not Provided 16.01.2013
Redburn Partners SIMON TOYNE sell 1 D #N/A N/A Not Provided 16.01.2013
Barclays IAN ROSSOUW equalweight 3 M 1'970 Not Provided 14.01.2013
Standard Chartered SUBRAMANIAM VARADA in-line 3 M 1'960 12 month 08.09.2012
Avior Research CLINTON DUNCAN outperform 5 M 2'338 Not Provided 27.08.2012
CA Cheuvreux JOAKIM AHLBERG outperform 5 M 2'250 Not Provided 30.07.2012
Daiwa Securities Co. Ltd. SCOTT FINLAY hold 3 N 3'329 6 month 21.04.2011
Panmure Gordon & Co Limited ALISON TURNER hold 3 M 2'756 Not Provided 21.04.2011
Holdings By:
Anglo American PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Imperial Tobacco Group plc is an international tobacco company that
manufactures, markets, and sells a range of cigarettes, tobaccos,
rolling papers, and cigars.
Latest Fiscal Year: 09/2012
LTM as of: 12/yy
52-Week High (10.07.2012) 2'629.00
52-Week Low (27.03.2013) 2'229.00
Daily Volume
2235
52-Week High % Change -15.21% Dividend Yield 4.74
52-Week Low % Change 0.00% Beta 0.57
% 52 Week Price Range High/Low 7.87% Equity Float 977.13
Shares Out 26.03.2013 977.8 Short Int -
21'853.71 1 Yr Total Return -7.87%
Total Debt 9'587.00 YTD Return -3.14%
Preferred Stock 0.0 Adjusted BETA 0.566
Minority Interest 49.0 Analyst Recs 26
Cash and Equivalents 631.00 Consensus Rating 3.808
Enterprise Value 30'858.71
Average Volume 5 Day 2'355'747
IMT LN EQUITY YTD Change - Average Volume 30 Day 2'126'204
IMT LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'055'304
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.09.2008 30.09.2009 30.09.2010 30.09.2011 30.09.2012 12/yy 12/yy 09/13 Y 09/14 Y - -
10'116.0 14'748.0 15'018.0 15'186.0 14'672.0 - - 8'105.1 8'385.1 - -
2.96x 2.00x 1.93x 2.05x 2.16x - - 3.76x 3.59x - -
1'958.0 3'158.0 3'307.0 3'260.0 4'509.0 - - 3'445.4 3'593.4 - -
15.29x 9.34x 8.75x 9.53x 7.03x - - 8.95x 8.59x - -
428.0 663.0 1'505.0 1'796.0 678.0 - - 2'089.3 2'202.8 - -
35.54x 27.61x 12.78x 12.26x 33.65x - - 10.51x 9.76x - -
EBITDA 4'509.00 Long-Term Rating Date 20.05.2008
EBIT 2'747.00 Long-Term Rating BBB
Operating Margin 18.72% Long-Term Outlook STABLE
Pretax Margin 7.37% Short-Term Rating Date 20.05.2008
Return on Assets 2.33% Short-Term Rating A-2
Return on Common Equity 9.91%
Return on Capital 9.83% EBITDA/Interest Exp. 3.06
Asset Turnover 0.50% (EBITDA-Capex)/Interest Exp. 2.86
Net Debt/EBITDA 1.99
Gross Margin 37.4% Total Debt/EBITDA 2.13
EBITDA Margin 30.7%
EBIT Margin 18.7% Total Debt/Equity 158.9%
Net Income Margin 4.6% Total Debt/Capital 61.2%
Asset Turnover 0.50
Current Ratio 0.78 Net Fixed Asset Turnover 7.22
Quick Ratio 0.38 Accounts receivable turnover-days 69.69
Debt to Assets 34.69% Inventory Days 123.36
Tot Debt to Common Equity 158.86% Accounts Payable Turnover Day 43.60
Accounts Receivable Turnover 5.25 Cash Conversion Cycle 149.45
Inventory Turnover 2.97
Fiscal Year Ended
Imperial Tobacco Group PLCPrice/Volume
Valuation Analysis
712'372.00
Current Price (3/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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500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES n/a ULT-AGG 66'461'651 6.8 380'781 31.12.2012 Investment Advisor
INVESCO LTD n/a Co File 61'000'000 6.24 - 30.10.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 53'000'000 5.42 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 42'126'524 4.31 (1'077'344) 28.02.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 30'498'871 3.12 1'083'885 01.12.2012 Unclassified
FMR LLC n/a ULT-AGG 29'706'695 3.04 (864'949) 31.01.2013 Investment Advisor
Northern Cross Inter Multiple Portfolios REG 22'902'506 2.34 4'070'578 01.12.2012 Unclassified
CAPITAL GROUP COMPAN n/a ULT-AGG 20'453'291 2.09 (4'970'335) 31.12.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 17'630'376 1.8 - 31.12.2012 Investment Advisor
CEDAR ROCK CAPITAL L Multiple Portfolios REG 16'997'045 1.74 595'616 01.12.2012 Unclassified
MORGAN STANLEY n/a ULT-AGG 15'549'556 1.59 4'426'083 31.12.2012 Investment Advisor
PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 15'439'779 1.58 26'099 31.07.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 14'733'204 1.51 465'216 31.12.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 13'734'190 1.4 (606'667) 01.12.2012 Investment Advisor
UBS n/a ULT-AGG 13'368'645 1.37 (568'794) 31.01.2013 Unclassified
AXA n/a ULT-AGG 13'190'673 1.35 (138'251) 31.01.2013 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 13'022'970 1.33 306'789 01.12.2012 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 12'498'191 1.28 2'126'754 01.12.2012 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 12'129'371 1.24 1'874'094 28.02.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 11'373'592 1.16 311'401 01.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Panmure Gordon & Co Limited DAMIAN MCNEELA buy 5 M 2'650 Not Provided 26.03.2013
Canaccord Genuity Corp EDDY HARGREAVES buy 5 M 2'900 12 month 22.03.2013
Berenberg Bank ERIK BLOOMQUIST hold 3 M 2'800 Not Provided 22.03.2013
Natixis NICOLAS LANGLET buy 5 M 2'800 Not Provided 22.03.2013
Nomura DAVID HAYES reduce 2 M 2'443 Not Provided 22.03.2013
Credit Suisse ROGERIO FUJIMORI outperform 5 M 2'700 Not Provided 21.03.2013
Oriel Securities Ltd CHRIS WICKHAM buy 5 M 2'900 Not Provided 21.03.2013
Exane BNP Paribas JAMES BUSHNELL underperform 1 M 2'450 Not Provided 20.03.2013
Jefferies DIRK VAN VLAANDEREN hold 3 M 2'500 12 month 19.03.2013
Goldman Sachs FULVIO CAZZOL neutral/attractive 3 M 2'470 12 month 07.03.2013
AlphaValue ISABELLE COMBEMALE buy 5 M 3'011 6 month 07.03.2013
Day by Day VALERIE GASTALDY buy 5 U 2'518 3 month 05.03.2013
Societe Generale CHAS MANSO DE ZUNIGA buy 5 M 2'700 12 month 28.02.2013
JPMorgan RAE MAILE neutral 3 M 3'067 9 month 20.02.2013
Investec MARTIN DEBOO hold 3 M 2'450 12 month 15.02.2013
Morgan Stanley MATTHEW GRAINGER Overwt/Attractive 5 M 2'680 12 month 30.01.2013
Independent Research GmbH LARS LUSEBRINK buy 5 M 2'850 12 month 30.01.2013
S&P Capital IQ CARL SHORT hold 3 M 2'450 12 month 30.01.2013
Barclays SIMON HALES equalweight 3 M 2'650 Not Provided 30.01.2013
EVA Dimensions AUSTIN BURKETT overweight 5 M #N/A N/A Not Provided 17.01.2013
Renaissance Capital REY WIUM hold 3 M 2'700 12 month 16.01.2013
Redburn Partners CHRISTIAN DE ROUALLE sell 1 M #N/A N/A Not Provided 16.01.2013
Deutsche Bank JONATHAN FELL buy 5 M 3'000 12 month 01.05.2012
Holdings By:
Imperial Tobacco Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
BT Group plc provides telecommunications services. The Company provides local
and long-distance telephone call products and services in the UK, international
telephone calls to and from the UK, broadband network solutions and web hosting
to corporate customers, network ADSL, ISDN, and IP services to communication
companies and narrowband and broadband internet access and related services.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (20.02.2013) 282.80
52-Week Low (15.06.2012) 197.40
Daily Volume
270.9
52-Week High % Change -4.00% Dividend Yield 3.20
52-Week Low % Change 37.54% Beta 0.87
% 52 Week Price Range High/Low 93.91% Equity Float 7'870.44
Shares Out 20.03.2013 7'880.0 Short Int -
21'346.94 1 Yr Total Return 23.90%
Total Debt 10'486.00 YTD Return 17.48%
Preferred Stock 0.0 Adjusted BETA 0.869
Minority Interest 11.0 Analyst Recs 28
Cash and Equivalents 844.00 Consensus Rating 3.679
Enterprise Value 29'871.94
Average Volume 5 Day 14'746'450
BT/A LN EQUITY YTD Change - Average Volume 30 Day 14'512'250
BT/A LN EQUITY YTD % CHANGE - Average Volume 3 Month 14'581'470
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 12/yy 12/yy 03/13 Y 03/14 Y 03/13 Q4 06/13 Q1
20'704.0 21'390.0 20'911.0 20'076.0 19'307.0 10'336.3 11'359.1 18'138.9 17'745.4 4'690.3 -
1.28x 0.88x 1.01x 1.23x 1.46x 4.51x 3.44x 1.60x 1.59x 6.16x -
5'792.0 3'629.0 5'594.0 5'886.0 6'190.0 725.2 713.4 6'099.7 6'064.4 1'634.5 -
4.56x 5.19x 3.76x 4.19x 4.54x 15.30x 14.45x 4.90x 4.93x - -
1'737.0 (193.0) 1'028.0 1'502.0 2'002.0 431.6 593.8 1'957.0 1'943.9 571.0 -
10.09x - 9.33x 9.58x 8.78x 26.53x 23.07x 10.79x 10.67x - -
EBITDA 6'190.00 Long-Term Rating Date 19.07.2011
EBIT 3'218.00 Long-Term Rating BBB
Operating Margin 16.67% Long-Term Outlook STABLE
Pretax Margin 12.66% Short-Term Rating Date 19.07.2011
Return on Assets 8.38% Short-Term Rating A-2
Return on Common Equity -
Return on Capital 26.06% EBITDA/Interest Exp. 8.95
Asset Turnover 0.71% (EBITDA-Capex)/Interest Exp. 5.22
Net Debt/EBITDA 1.45
Gross Margin - Total Debt/EBITDA 1.82
EBITDA Margin 32.5%
EBIT Margin 16.5% Total Debt/Equity 808.5%
Net Income Margin 10.4% Total Debt/Capital 88.9%
Asset Turnover 0.71
Current Ratio 0.49 Net Fixed Asset Turnover 1.27
Quick Ratio 0.28 Accounts receivable turnover-days -
Debt to Assets 43.79% Inventory Days -
Tot Debt to Common Equity 808.48% 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
BT Group PLCPrice/Volume
Valuation Analysis
5'565'642.00
Current Price (3/dd/yy) Market Data
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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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESCO LTD Multiple Portfolios REG 778'912'816 9.88 - 01.11.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 414'048'238 5.25 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 326'738'146 4.15 8'748'662 28.02.2013 Unclassified
BT GROUP PLC SHAREVI Multiple Portfolios REG 284'949'077 3.62 56'100'337 01.11.2012 Unclassified
PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 218'997'078 2.78 609'027 31.07.2012 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 176'167'732 2.24 (2'425'817) 01.11.2012 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 153'691'805 1.95 (9'615'159) 01.11.2012 Government
STANDARD LIFE INVEST Multiple Portfolios REG 151'085'357 1.92 1'514'171 01.11.2012 Investment Advisor
FMR LLC n/a ULT-AGG 139'912'821 1.78 (16'511'149) 31.01.2013 Investment Advisor
AVIVA INVESTORS Multiple Portfolios REG 134'026'296 1.7 17'151'093 01.11.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 128'739'886 1.63 (6'162'708) 30.11.2012 Unclassified
ARTEMIS INVESTMENT M Multiple Portfolios REG 121'209'276 1.54 5'420'429 01.11.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 103'659'925 1.32 (857'049) 01.11.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 95'877'803 1.22 4'103'000 01.11.2012 Government
ARTEMIS INVESTMENT M Multiple Portfolios MF-AGG 90'844'770 1.15 12'800'853 31.12.2012 Investment Advisor
THREADNEEDLE INVESTM Multiple Portfolios MF-AGG 86'476'500 1.1 689'067 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 82'710'326 1.05 4'210'755 31.12.2012 Investment Advisor
BT GROUP PLC EMPLOYE Multiple Portfolios REG 81'270'291 1.03 (197'922) 01.11.2012 Unclassified
VANGUARD GROUP INC Multiple Portfolios REG 81'100'448 1.03 7'324'283 01.11.2012 Investment Advisor
MAJEDIE ASSET MANAGE Multiple Portfolios REG 79'359'827 1.01 702'630 01.11.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse PAUL SIDNEY outperform 5 M 300 Not Provided 26.03.2013
Nomura JAMES BRITTON buy 5 M 360 Not Provided 22.03.2013
Oriel Securities Ltd JOHN KARIDIS buy 5 M 330 Not Provided 21.03.2013
AlphaValue JEAN-MICHEL SALVADOR reduce 2 M 278 6 month 21.03.2013
JPMorgan CARL MURDOCK-SMITH overweight 5 M 280 12 month 19.03.2013
Sanford C. Bernstein & Co ROBIN BIENENSTOCK outperform 5 M 285 12 month 15.03.2013
Barclays MAURICE PATRICK equalweight 3 M 230 Not Provided 15.03.2013
Espirito Santo Investment Bank ResearchNICK BROWN neutral 3 M 250 Not Provided 13.03.2013
Exane BNP Paribas MICHAEL WILLIAMS neutral 3 M 250 Not Provided 08.03.2013
Berenberg Bank STUART GORDON buy 5 M 280 Not Provided 06.03.2013
New Street Research JAMES RATZER reduce 2 M 225 Not Provided 06.03.2013
Day by Day VALERIE GASTALDY buy 5 U 309 3 month 05.03.2013
Morgan Stanley NICK DELFAS Overwt/In-Line 5 M 290 12 month 20.02.2013
Macquarie GUY R PEDDY underperform 1 M 180 12 month 14.02.2013
Liberum Capital Ltd LAWRENCE SUGARMAN buy 5 M 300 Not Provided 05.02.2013
Deutsche Bank DAVID A WRIGHT hold 3 M 277 12 month 04.02.2013
Societe Generale OTTAVIO ADORISIO hold 3 M 245 12 month 01.02.2013
Goldman Sachs ANDREW LEE Buy/Neutral 5 M 320 12 month 01.02.2013
Jefferies JEREMY A DELLIS buy 5 M 278 12 month 01.02.2013
S&P Capital IQ JAMES CRAWSHAW hold 3 M 260 12 month 01.02.2013
Oddo & Cie ALEXANDRE IATRIDES reduce 2 M 175 Not Provided 30.01.2013
EVA Dimensions ANDREW S ZAMFOTIS overweight 5 M #N/A N/A Not Provided 17.01.2013
HSBC STEPHEN HOWARD neutral 3 M 220 Not Provided 20.11.2012
Raymond James STEPHANE BEYAZIAN outperform 5 M 245 Not Provided 04.09.2012
Landesbank Baden-Wuerttemberg RALPH SZYMCZAK sell 1 M 190 Not Provided 25.07.2012
Holdings By:
BT Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Rolls-Royce Holdings PLC manufactures aero, marine and industrial gas turbines
for civil and military aircraft. The Group designs, constructs and installs
power generation systems, transmission and distribution systems, and equipment
for the marine propulsion, oil and gas pumping, and defense markets.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (20.03.2013) 1'132.00
52-Week Low (11.04.2012) 775.78
Daily Volume
1092
52-Week High % Change -3.71% Dividend Yield 1.79
52-Week Low % Change 40.50% Beta 1.01
% 52 Week Price Range High/Low 91.86% Equity Float 1'876.27
Shares Out 01.03.2013 1'880.2 Short Int -
20'531.98 1 Yr Total Return 35.09%
Total Debt 1'383.00 YTD Return 24.79%
Preferred Stock 0.0 Adjusted BETA 1.006
Minority Interest 17.0 Analyst Recs 25
Cash and Equivalents 2'596.00 Consensus Rating 3.360
Enterprise Value 19'335.98
Average Volume 5 Day 4'458'114
RR/ LN EQUITY YTD Change - Average Volume 30 Day 4'302'747
RR/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 4'216'193
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
9'082.0 10'414.0 11'085.0 11'124.0 12'161.0 - - 15'175.8 16'036.3 - -
0.56x 0.70x 0.93x 1.25x 1.25x - - 1.27x 1.17x - -
1'096.0 1'396.0 1'404.0 1'480.0 1'687.0 - - 2'221.0 2'386.8 - -
4.61x 5.26x 7.36x 9.36x 8.98x - - 8.71x 8.10x - -
(1'340.0) 2'221.0 539.0 850.0 2'281.0 - - 1'235.5 1'351.8 - -
- 4.02x 21.34x 16.25x 7.09x - - 16.67x 15.23x - -
EBITDA 1'687.00 Long-Term Rating Date 13.04.2012
EBIT 1'200.00 Long-Term Rating A
Operating Margin 9.87% Long-Term Outlook STABLE
Pretax Margin 22.24% Short-Term Rating Date 13.04.2012
Return on Assets 13.21% Short-Term Rating A-1
Return on Common Equity 43.01%
Return on Capital 40.90% EBITDA/Interest Exp. 3.52
Asset Turnover 0.70% (EBITDA-Capex)/Interest Exp. 2.61
Net Debt/EBITDA -0.72
Gross Margin 22.6% Total Debt/EBITDA 0.82
EBITDA Margin 13.9%
EBIT Margin 9.9% Total Debt/Equity 22.7%
Net Income Margin 18.8% Total Debt/Capital 18.5%
Asset Turnover 0.70
Current Ratio 1.33 Net Fixed Asset Turnover 4.96
Quick Ratio 0.79 Accounts receivable turnover-days 88.36
Debt to Assets 7.63% Inventory Days 102.75
Tot Debt to Common Equity 22.72% Accounts Payable Turnover Day 93.48
Accounts Receivable Turnover 4.14 Cash Conversion Cycle 97.64
Inventory Turnover 3.56
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
Rolls-Royce Holdings PLCPrice/Volume
Valuation Analysis
584'361.00
Current Price (3/dd/yy) Market Data
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0.0
200.0
400.0
600.0
800.0
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1'200.0
1'400.0
1'600.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESCO LTD Multiple Portfolios REG 112'822'192 6 (3'289'064) 01.11.2012 Investment Advisor
FMR LLC n/a ULT-AGG 102'165'089 5.43 (56'735'470) 31.01.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 93'986'631 5 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 75'786'766 4.03 1'193'881 01.11.2012 Unclassified
BAILLIE GIFFORD AND Multiple Portfolios REG 58'757'257 3.13 3'025'904 01.11.2012 Investment Advisor
Northern Cross Inter Multiple Portfolios REG 45'853'311 2.44 5'797'601 01.11.2012 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 45'308'048 2.41 1'065'936 01.11.2012 Government
SCOTTISH WIDOWS n/a ULT-AGG 43'402'486 2.31 2'538'998 30.11.2012 Unclassified
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 43'022'491 2.29 699'470 31.12.2012 Investment Advisor
DEUTSCHE PRIVATE BAN Multiple Portfolios REG 41'865'846 2.23 2'652'399 01.11.2012 Unclassified
VANGUARD GROUP INC Multiple Portfolios MF-AGG 36'507'917 1.94 759'881 31.12.2012 Investment Advisor
PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 36'150'309 1.92 16'496 31.07.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 30'897'478 1.64 (5'380'217) 01.11.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios REG 27'706'884 1.47 803'995 01.11.2012 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 26'924'567 1.43 (428'418) 01.11.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios REG 25'928'040 1.38 (8'010'744) 01.11.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 25'368'833 1.35 941'008 01.11.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios REG 24'908'239 1.32 (462'155) 01.11.2012 Investment Advisor
UBS n/a ULT-AGG 21'984'871 1.17 (15'824'804) 31.01.2013 Unclassified
AEGON n/a ULT-AGG 21'891'388 1.16 526'673 01.11.2012 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Espirito Santo Investment Bank ResearchEDWARD STACEY neutral 3 M 950 Not Provided 27.03.2013
JPMorgan DAVID H. PERRY overweight 5 M 1'300 9 month 26.03.2013
Sanford C. Bernstein & Co DOUGLAS S HARNED market perform 3 M 880 12 month 22.03.2013
RBC Capital Markets ROBERT STALLARD outperform 5 M 1'180 12 month 21.03.2013
Jefferies SANDY MORRIS buy 5 M 1'250 12 month 21.03.2013
AlphaValue THOMAS PICHERIT reduce 2 M 987 6 month 21.03.2013
Societe Generale ZAFAR KHAN sell 1 M 900 12 month 19.03.2013
Investec ANDREW GOLLAN add 4 M 1'125 12 month 19.03.2013
Barclays CARTER COPELAND overweight 5 M 1'225 Not Provided 11.03.2013
S&P Capital IQ UNAI FRANCO hold 3 M 1'100 12 month 19.02.2013
Morgan Stanley RUPINDER VIG Overwt/In-Line 5 M 1'200 12 month 18.02.2013
CM - CIC Securities(ESN) HARALD LIBERGE-DONDOUX sell 1 M 800 12 month 18.02.2013
Natixis ERIC CHADEYRAS neutral 3 M 1'100 Not Provided 18.02.2013
Exane BNP Paribas OLIVIER BROCHET outperform 5 M 1'075 Not Provided 18.02.2013
Deutsche Bank BEN FIDLER hold 3 M 930 12 month 15.02.2013
Kepler Capital Markets CHRISTOPHE MENARD hold 3 M 1'050 Not Provided 15.02.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 14.02.2013
Liberum Capital Ltd BENJAMIN BOURNE buy 5 M 1'030 Not Provided 04.02.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 17.01.2013
Credit Suisse OLIVER SLEATH neutral 3 M 900 Not Provided 16.01.2013
Arden Partners Ltd GRAHAM J WEBSTER add 4 M #N/A N/A Not Provided 01.10.2012
CA Cheuvreux ANTOINE BOIVIN-CHAMPEAUX underperform 1 M 800 Not Provided 27.07.2012
Holdings By:
Rolls-Royce Holdings PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Lloyds Banking Group plc, through subsidiaries and associated companies, offers
a range of banking and financial services. The Company provides retail banking,
mortgages, pensions, asset management, insurance services, corporate banking,
and treasury services.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (20.02.2013) 56.10
52-Week Low (30.05.2012) 24.75
Daily Volume
48.615
52-Week High % Change -13.64% Dividend Yield 0.00
52-Week Low % Change 95.80% Beta 1.70
% 52 Week Price Range High/Low 73.05% Equity Float 42'726.89
Shares Out 28.02.2013 70'343.6 Short Int -
34'295.87 1 Yr Total Return 39.12%
Total Debt 189'866.00 YTD Return 1.12%
Preferred Stock 0.0 Adjusted BETA 1.700
Minority Interest 685.0 Analyst Recs 33
Cash and Equivalents 110'971.00 Consensus Rating 3.303
Enterprise Value -
Average Volume 5 Day #########
LLOY LN EQUITY YTD Change - Average Volume 30 Day #########
LLOY LN EQUITY YTD % CHANGE - Average Volume 3 Month #########
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
20'413.0 44'007.0 43'432.0 35'780.0 36'408.0 44'844.0 47'252.0 18'248.8 18'182.4 4'748.0 4'658.0
- - - - - 6.16x 5.76x - - - -
- - - - - 12'018.0 13'372.0 - - - -
- - - - - 6.27x 6.17x - - - -
772.0 2'827.0 (320.0) (2'787.0) (1'427.0) 6'998.0 9'317.0 2'900.1 4'068.9 - -
18.90x 6.76x - - - 13.77x 13.06x 12.47x 8.68x - -
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A-
Operating Margin 9.48% Long-Term Outlook NEG
Pretax Margin -2.60% Short-Term Rating Date 29.11.2011
Return on Assets -0.15% Short-Term Rating A-2
Return on Common Equity -3.17%
Return on Capital -0.49% EBITDA/Interest Exp. -
Asset Turnover 0.04% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 431.5%
Net Income Margin -6.5% Total Debt/Capital 80.9%
Asset Turnover 0.04
Current Ratio - Net Fixed Asset Turnover 4.85
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 20.54% Inventory Days -
Tot Debt to Common Equity 431.52% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Lloyds Banking Group PLCPrice/Volume
Valuation Analysis
110'662'998.00
Current Price (3/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
50'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
UNITED KINGDOM GOVER n/a RNS-MAJ 27'608'563'642 39.25 - 23.03.2012 Government
FMR LLC n/a ULT-AGG 2'359'287'182 3.35 40'204'114 31.01.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 2'335'851'144 3.32 35'727'885 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 1'661'879'228 2.36 4'371'787 28.02.2013 Unclassified
UBS n/a ULT-AGG 1'113'818'748 1.58 (49'558'902) 31.01.2013 Unclassified
FRANKLIN RESOURCES n/a ULT-AGG 1'096'594'012 1.56 (189'806'781) 28.02.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 1'089'919'867 1.55 462'591'455 01.12.2012 Unclassified
DEUTSCHE PRIVATE BAN Multiple Portfolios REG 1'075'638'770 1.53 41'049'793 01.12.2012 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 1'075'023'992 1.53 (14'804'023) 01.12.2012 Government
HALIFAX SHARE DEALIN Multiple Portfolios REG 1'052'501'056 1.5 (38'913'754) 01.12.2012 Corporation
SCHRODER INVESTMENT Multiple Portfolios REG 742'242'002 1.06 (128'253'574) 01.12.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 739'647'720 1.05 19'888'448 01.12.2012 Investment Advisor
TD WATERHOUSE GROUP Multiple Portfolios REG 724'279'567 1.03 (36'378'354) 01.12.2012 Investment Advisor
ALECTA INVESTMENT MA Multiple Portfolios REG 675'500'000 0.96 (40'000'000) 01.12.2012 Unclassified
HARRIS ASSOCIATES LP Multiple Portfolios REG 609'121'200 0.87 (225'724'735) 01.12.2012 Investment Advisor
SELFTRADE Multiple Portfolios REG 597'593'904 0.85 (17'125'603) 01.12.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 590'792'286 0.84 (893'151) 31.12.2012 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 539'931'137 0.77 (97'393'597) 31.01.2013 Investment Advisor
PRIVATE INDIVIDUALS Multiple Portfolios REG 456'479'052 0.65 (1'330'422) 01.12.2012 Other
VANGUARD GROUP INC Multiple Portfolios MF-AGG 445'836'749 0.63 17'836'770 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Mediobanca SpA CHRISTOPHER J WHEELER neutral 3 M 53 Not Provided 25.03.2013
Morgan Stanley CHRISTOPHER MANNERS Equalwt/In-Line 3 M 53 12 month 25.03.2013
Investec IAN GORDON hold 3 M 50 12 month 25.03.2013
Goldman Sachs FREDERIK THOMASEN neutral/neutral 3 M 60 12 month 24.03.2013
AlphaValue DAVID GRINSZTAJN reduce 2 M 47 6 month 21.03.2013
Macquarie EDWARD FIRTH underperform 1 M 46 12 month 19.03.2013
Day by Day VALERIE GASTALDY hold 3 D #N/A N/A Not Provided 19.03.2013
Credit Suisse CARLA ANTUNES-SILVA neutral 3 M 45 Not Provided 18.03.2013
Nomura CHINTAN JOSHI reduce 2 M 42 12 month 18.03.2013
Exane BNP Paribas TOM RAYNER outperform 5 M 60 Not Provided 18.03.2013
Numis Securities Ltd MICHAEL J TRIPPITT buy 5 M 63 Not Provided 15.03.2013
Barclays ROHITH CHANDRA-RAJAN underweight 1 M 40 Not Provided 15.03.2013
Oriel Securities Ltd VIVEK RAJA sell 1 D 41 Not Provided 14.03.2013
Grupo Santander ARTURO DE FRIAS buy 5 M 66 12 month 13.03.2013
Sanford C. Bernstein & Co CHIRANTAN BARUA outperform 5 M 64 12 month 12.03.2013
Societe Generale JAMES INVINE buy 5 M 61 12 month 11.03.2013
Shore Capital Stockbrokers GARY GREENWOOD buy 5 M #N/A N/A Not Provided 05.03.2013
Deutsche Bank JASON NAPIER buy 5 M 64 12 month 04.03.2013
JPMorgan RAUL SINHA neutral 3 M 55 9 month 04.03.2013
Keefe, Bruyette & Woods MARK J PHIN underperform 1 M 51 12 month 03.03.2013
RBC Capital Markets CLAIRE KANE outperform 5 M 69 12 month 01.03.2013
Canaccord Genuity Corp GARETH HUNT hold 3 M 35 12 month 01.03.2013
Berenberg Bank JAMES CHAPPELL sell 1 M 24 Not Provided 01.03.2013
Daniel Stewart & Co SIMON WILLIS sell 1 M 39 12 month 01.03.2013
S&P Capital IQ FRANK BRADEN hold 3 M 55 12 month 01.03.2013
Redburn Partners FAHED KUNWAR buy 5 M #N/A N/A Not Provided 01.03.2013
Liberum Capital Ltd CORMAC LEECH buy 5 M 62 Not Provided 04.02.2013
Espirito Santo Investment Bank ResearchSHAILESH RAIKUNDLIA sell 1 D 48 Not Provided 29.01.2013
EVA Dimensions AUSTIN BURKETT sell 1 M #N/A N/A Not Provided 17.01.2013
HSBC PETER TOEMAN overweight 5 M 65 Not Provided 10.01.2013
Holdings By:
Lloyds Banking Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Centrica PLC is an integrated energy company offering a wide range of home and
business energy solutions. The Company sources, generates, processes, stores,
trades, saves and supplies energy and provides a range of related services.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (27.03.2013) 369.00
52-Week Low (22.06.2012) 301.20
Daily Volume
363.6
52-Week High % Change -1.41% Dividend Yield 4.51
52-Week Low % Change 20.78% Beta 0.64
% 52 Week Price Range High/Low 99.85% Equity Float 4'974.47
Shares Out 25.03.2013 5'183.1 Short Int -
18'845.80 1 Yr Total Return 20.46%
Total Debt 5'328.00 YTD Return 9.05%
Preferred Stock 0.0 Adjusted BETA 0.636
Minority Interest 0.0 Analyst Recs 25
Cash and Equivalents 938.00 Consensus Rating 3.440
Enterprise Value 23'235.80
Average Volume 5 Day 11'146'720
CNA LN EQUITY YTD Change - Average Volume 30 Day 9'598'011
CNA LN EQUITY YTD % CHANGE - Average Volume 3 Month 8'481'136
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
20'872.0 21'963.0 22'423.0 22'824.0 23'942.0 - - 24'432.9 25'474.9 - -
0.68x 0.81x 0.92x 0.81x 0.91x - - 0.95x 0.90x - -
2'613.0 2'721.0 3'336.0 3'310.0 3'698.0 - - 3'944.5 4'146.8 - -
5.43x 6.54x 6.19x 5.62x 5.88x - - 5.89x 5.60x - -
(137.0) 844.0 1'935.0 421.0 1'273.0 - - 1'413.9 1'496.7 - -
241.82x 22.13x 9.11x 33.64x 13.56x - - 13.08x 11.77x - -
EBITDA 3'698.00 Long-Term Rating Date 29.05.2009
EBIT 2'422.00 Long-Term Rating A-
Operating Margin 10.12% Long-Term Outlook STABLE
Pretax Margin 10.20% Short-Term Rating Date 29.05.2009
Return on Assets 6.13% Short-Term Rating A-2
Return on Common Equity 22.09%
Return on Capital 14.28% EBITDA/Interest Exp. 7.44
Asset Turnover 1.15% (EBITDA-Capex)/Interest Exp. 3.83
Net Debt/EBITDA 1.19
Gross Margin 19.8% Total Debt/EBITDA 1.44
EBITDA Margin 15.4%
EBIT Margin 10.1% Total Debt/Equity 89.9%
Net Income Margin 5.3% Total Debt/Capital 47.3%
Asset Turnover 1.15
Current Ratio 0.95 Net Fixed Asset Turnover 3.33
Quick Ratio 0.14 Accounts receivable turnover-days -
Debt to Assets 24.27% Inventory Days 9.41
Tot Debt to Common Equity 89.89% Accounts Payable Turnover Day 9.37
Accounts Receivable Turnover - Cash Conversion Cycle 19.73
Inventory Turnover 38.89
Fiscal Year Ended
Centrica PLCPrice/Volume
Valuation Analysis
3'432'503.00
Current Price (3/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 ! F
0.0
500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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2 !!
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESCO LTD n/a Co File 258'200'185 4.98 - 23.02.2012 Investment Advisor
ABERDEEN n/a ULT-AGG 244'433'202 4.72 2'929'553 28.02.2013 Unclassified
LEGAL & GENERAL n/a ULT-AGG 199'643'469 3.85 (2'602'961) 01.11.2012 Unclassified
PETRONAS n/a Co File 199'375'000 3.85 - 23.02.2012 Government
BLACKROCK n/a ULT-AGG 198'230'837 3.82 (217'034) 25.03.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 192'620'011 3.72 20'183'664 30.11.2012 Unclassified
NEWTON INV MGMT Multiple Portfolios REG 178'317'146 3.44 15'220'210 01.11.2012 Mutual Fund Manager
FMR LLC n/a ULT-AGG 168'873'344 3.26 (3'909'961) 31.01.2013 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 135'169'676 2.61 (7'934'002) 26.03.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 115'829'394 2.23 2'398'382 01.11.2012 Government
UBS n/a ULT-AGG 110'850'900 2.14 10'261'488 31.01.2013 Unclassified
M&G INVESTMENT MANAG Multiple Portfolios REG 107'778'794 2.08 (3'099'325) 01.11.2012 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 90'418'317 1.74 (10'651'045) 31.01.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 81'472'000 1.57 53'727'337 31.12.2012 Investment Advisor
PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 77'307'596 1.49 53'600 31.07.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 74'740'477 1.44 (11'993'141) 31.01.2013 Unclassified
SCHRODER INVESTMENT Multiple Portfolios REG 74'363'376 1.43 (2'361'053) 01.11.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 68'473'929 1.32 16'115'286 01.11.2012 Government
WALTER SCOTT & PARTN Multiple Portfolios REG 67'827'517 1.31 1'389'000 01.11.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 67'616'691 1.3 1'115'563 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets JOHN MUSK sector perform 3 M 370 12 month 26.03.2013
AlphaValue MYRIAM COHEN add 4 M 382 6 month 26.03.2013
Exane BNP Paribas IAIN TURNER underperform 1 M 280 Not Provided 25.03.2013
HSBC VERITY MITCHELL overweight 5 M 400 Not Provided 21.03.2013
Nomura JONATHAN CONSTABLE neutral 3 M 350 Not Provided 13.03.2013
Societe Generale ASHLEY THOMAS buy 5 M 400 12 month 11.03.2013
Goldman Sachs ANDREW MEAD neutral/neutral 3 M 416 12 month 11.03.2013
JPMorgan EDMUND REID neutral 3 D 370 9 month 08.03.2013
Kepler Capital Markets INGO BECKER hold 3 M 320 Not Provided 28.02.2013
Raymond James EMMANUEL RETIF underperform 1 M 321 Not Provided 27.02.2013
Cantor Fitzgerald ANGELOS ANASTASIOU buy 5 M 403 Not Provided 27.02.2013
S&P Capital IQ CLIVE ROBERTS strong buy 5 M 525 12 month 27.02.2013
Mirabaud Securities GUS HOCHSCHILD buy 5 M 435 Not Provided 25.02.2013
Credit Suisse MARK FRESHNEY neutral 3 M 325 Not Provided 15.02.2013
Berenberg Bank ROBERT CHANTRY hold 3 D 370 Not Provided 05.02.2013
Liberum Capital Ltd GUILLAUME REDGWELL buy 5 M 370 Not Provided 25.01.2013
Barclays PETER BISZTYGA underweight 1 M 325 Not Provided 25.01.2013
EVA Dimensions AUSTIN BURKETT overweight 5 M #N/A N/A Not Provided 17.01.2013
Morgan Stanley BOBBY CHADA Equalwt/In-Line 3 M 345 12 month 11.01.2013
Deutsche Bank MARTIN BROUGH hold 3 M 340 12 month 07.01.2013
Redburn Partners JAMIE TUNNICLIFFE buy 5 M #N/A N/A Not Provided 10.12.2012
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 22.10.2012
Holdings By:
Centrica PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Xstrata plc, a diversified mining group, explores for and mines copper, coking
coal, thermal coal, ferrochrome, vanadium, zinc, gold, lead, and silver. The
Group conducts operations in Australia, South Africa, Germany, Argentina, and
the United Kingdom.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (01.02.2013) 1'201.00
52-Week Low (27.06.2012) 760.47
Daily Volume
1081.5
52-Week High % Change -9.99% Dividend Yield 2.79
52-Week Low % Change 42.15% Beta 1.78
% 52 Week Price Range High/Low 71.51% Equity Float 1'520.28
Shares Out 31.12.2012 3'002.7 Short Int -
32'474.11 1 Yr Total Return 0.08%
Total Debt 17'067.00 YTD Return 2.08%
Preferred Stock 0.0 Adjusted BETA 1.785
Minority Interest 2'339.0 Analyst Recs 21
Cash and Equivalents 1'983.00 Consensus Rating 3.524
Enterprise Value 66'468.65
Average Volume 5 Day 5'597'255
XTA LN EQUITY YTD Change - Average Volume 30 Day 5'438'155
XTA LN EQUITY YTD % CHANGE - Average Volume 3 Month 4'955'808
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
27'952.0 22'732.0 30'499.0 33'877.0 31'618.0 - - 34'013.7 36'310.7 - -
0.96x 2.83x 2.59x 1.64x 2.18x - - 1.92x 1.75x - -
9'645.0 6'476.0 10'393.0 11'648.0 8'122.0 - - 9'689.1 11'041.6 - -
2.78x 9.93x 7.61x 4.76x 8.50x - - 6.86x 6.02x - -
3'595.0 661.0 4'688.0 5'713.0 1'180.0 - - 3'765.6 4'788.3 - -
2.49x 72.41x 14.58x 7.70x 43.00x - - 13.11x 10.44x - -
EBITDA 8'122.00 Long-Term Rating Date 29.11.2012
EBIT 4'790.00 Long-Term Rating BBB+ *-
Operating Margin 15.15% Long-Term Outlook -
Pretax Margin 6.35% Short-Term Rating Date 29.11.2012
Return on Assets 1.49% Short-Term Rating A-2 *-
Return on Common Equity 2.68%
Return on Capital 2.74% EBITDA/Interest Exp. 20.46
Asset Turnover 0.40% (EBITDA-Capex)/Interest Exp. -4.82
Net Debt/EBITDA 1.86
Gross Margin 27.7% Total Debt/EBITDA 2.10
EBITDA Margin 25.7%
EBIT Margin 15.1% Total Debt/Equity 38.4%
Net Income Margin 3.7% Total Debt/Capital 26.7%
Asset Turnover 0.40
Current Ratio 1.73 Net Fixed Asset Turnover 0.57
Quick Ratio 0.81 Accounts receivable turnover-days 39.95
Debt to Assets 20.53% Inventory Days -
Tot Debt to Common Equity 38.39% Accounts Payable Turnover Day -
Accounts Receivable Turnover 9.16 Cash Conversion Cycle 69.47
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
Xstrata PLCPrice/Volume
Valuation Analysis
1'379'296.00
Current Price (3/dd/yy) Market Data
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2'000.0
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6'000.0
7'000.0
8'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GLENCORE INTERNATION Multiple Portfolios REG 1'010'403'999 33.65 - 02.01.2013 Corporation
QATAR HOLDINGS LLC n/a RNS-RUL8 350'410'601 11.67 - 14.01.2013 Government
BLACKROCK n/a ULT-AGG 144'628'350 4.82 (81'328) 25.03.2013 Investment Advisor
UBS n/a ULT-AGG 95'879'064 3.19 16'255'320 25.03.2013 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 88'851'173 2.96 - 02.01.2013 Government
STATE STREET n/a ULT-AGG 66'130'949 2.2 204'708 26.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 61'700'951 2.05 (33'850) 22.03.2013 Unclassified
JP MORGAN n/a ULT-AGG 57'610'174 1.92 8'186'775 25.03.2013 Unclassified
BANK OF NEW YORK MEL Multiple Portfolios REG 54'135'734 1.8 (634'892) 02.01.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 42'863'026 1.43 (202'870) 02.01.2013 Unclassified
Xstrata Plc Employee Multiple Portfolios REG 42'642'114 1.42 (6'795'572) 02.01.2013 Unclassified
STANDARD LIFE INVEST #N/A N/A RNS-RUL8 41'205'251 1.37 (24'936) 22.03.2013 Investment Advisor
GOVT OF SINGAPORE IN n/a ULT-AGG 32'530'740 1.08 66'360 21.03.2013 Government
SAFE INVESTMENT COMP n/a RNS-RUL8 31'187'938 1.04 - 02.02.2012 Unclassified
PEOPLES REPUBLIC OF Multiple Portfolios REG 30'417'938 1.01 - 02.01.2013 Government
LLOYDS BANKING GROUP n/a ULT-AGG 29'719'950 0.99 (610'124) 28.02.2013 Investment Advisor
NORTHERN CROSS LLC n/a RNS-RUL8 28'945'439 0.96 (3'925'000) 14.09.2012 Investment Advisor
HSBC Prop Trading/Ma Multiple Portfolios REG 25'475'000 0.85 2'450'000 02.01.2013 Unclassified
Northern Cross Inter Multiple Portfolios REG 25'223'487 0.84 (757'180) 02.01.2013 Unclassified
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 24'663'230 0.82 137'523 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie JEFFREY LARGEY outperform 5 M 1'200 12 month 22.03.2013
AlphaValue SACHIN KUMAR reduce 2 M 1'100 6 month 21.03.2013
Jefferies Christopher LaFemina buy 5 M 1'350 12 month 20.03.2013
Sanford C. Bernstein & Co PAUL GAIT outperform 5 M 1'575 12 month 15.03.2013
BMO Capital Markets TONY ROBSON market perform 3 U 1'220 Not Provided 12.03.2013
Exane BNP Paribas SYLVAIN BRUNET neutral 3 M 1'300 Not Provided 12.03.2013
EVA Dimensions CRAIG STERLING sell 1 D #N/A N/A Not Provided 08.03.2013
Landesbank Baden-Wuerttemberg JENS MUENSTERMANN buy 5 M 1'300 Not Provided 07.03.2013
S&P Capital IQ JOHNSON IMODE sell 1 M 1'000 12 month 05.03.2013
RBC Capital Markets TIMOTHY HUFF sector perform 3 M 1'100 12 month 04.03.2013
CA Cheuvreux JOAKIM AHLBERG outperform 5 M 1'300 Not Provided 11.02.2013
Redburn Partners SIMON TOYNE neutral 3 M #N/A N/A Not Provided 11.02.2013
SBG Securities PETER DAVEY sell 1 D 1'220 12 month 11.02.2013
HSBC ANDREW KEEN neutral 3 D 1'250 Not Provided 07.02.2013
Day by Day VALERIE GASTALDY hold 3 D #N/A N/A Not Provided 05.02.2013
Societe Generale ALAIN WILLIAM hold 3 D 1'190 12 month 31.01.2013
Nomura SAM CATALANO restricted #N/A N/A M #N/A N/A Not Provided 16.01.2013
Liberum Capital Ltd ASH LAZENBY buy 5 M #N/A N/A Not Provided 10.01.2013
Natixis RAOUDHA BOUZEKRI neutral 3 M 1'017 Not Provided 20.11.2012
Standard Chartered SUBRAMANIAM VARADA outperform 5 U 1'080 12 month 08.09.2012
Credit Suisse LIAM FITZPATRICK restricted #N/A N/A M #N/A N/A Not Provided 21.02.2012
Bank Vontobel AG PATRICK RAFAISZ buy 5 M 1'103 Not Provided 07.02.2012
Deutsche Bank ROBERT CLIFFORD restricted #N/A N/A M #N/A N/A Not Provided 02.02.2012
Morgan Stanley ALAIN GABRIEL restricted #N/A N/A M #N/A N/A Not Provided 02.02.2012
Goldman Sachs EUGENE KING not rated #N/A N/A M #N/A N/A Not Provided 02.02.2012
JPMorgan BENJAMIN DEFAY restricted #N/A N/A M #N/A N/A Not Provided 02.02.2012
Holdings By:
Xstrata PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Compass Group PLC provides catering and support services in countries
throughout the world. The Company's clients are in locations including
offices, factories, hospitals and care homes, schools and universities, sports
venues, military facilities, offshore platforms and other remote locations.
Latest Fiscal Year: 09/2012
LTM as of: 12/yy
52-Week High (15.03.2013) 853.00
52-Week Low (16.05.2012) 611.00
Daily Volume
823.5
52-Week High % Change -3.52% Dividend Yield 2.59
52-Week Low % Change 34.70% Beta 0.81
% 52 Week Price Range High/Low 88.02% Equity Float 1'821.91
Shares Out 25.03.2013 1'827.1 Short Int -
15'046.11 1 Yr Total Return 30.22%
Total Debt 1'785.00 YTD Return 15.66%
Preferred Stock 0.0 Adjusted BETA 0.810
Minority Interest 10.0 Analyst Recs 32
Cash and Equivalents 728.00 Consensus Rating 3.688
Enterprise Value 16'113.11
Average Volume 5 Day 3'307'101
CPG LN EQUITY YTD Change - Average Volume 30 Day 3'175'029
CPG LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'963'036
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.09.2008 30.09.2009 30.09.2010 30.09.2011 30.09.2012 12/yy 12/yy 09/13 Y 09/14 Y - -
11'440.0 13'444.0 14'468.0 15'833.0 16'905.0 - - 17'594.0 18'640.5 - -
0.64x 0.60x 0.74x 0.68x 0.81x - - 0.93x 0.87x - -
864.0 1'102.0 1'228.0 1'331.0 1'480.0 - - 1'552.7 1'663.9 - -
8.53x 7.36x 8.73x 8.07x 9.29x - - 10.38x 9.68x - -
443.0 586.0 675.0 728.0 605.0 - - 846.2 931.5 - -
16.46x 12.96x 15.03x 14.31x 21.29x - - 17.71x 16.02x - -
EBITDA 1'480.00 Long-Term Rating Date 18.02.2013
EBIT 1'143.00 Long-Term Rating A
Operating Margin 6.76% Long-Term Outlook STABLE
Pretax Margin 4.67% Short-Term Rating Date -
Return on Assets 6.49% Short-Term Rating -
Return on Common Equity 17.99%
Return on Capital 13.04% EBITDA/Interest Exp. 15.74
Asset Turnover 1.81% (EBITDA-Capex)/Interest Exp. 13.19
Net Debt/EBITDA 0.71
Gross Margin - Total Debt/EBITDA 1.21
EBITDA Margin 8.8%
EBIT Margin 6.8% Total Debt/Equity 55.2%
Net Income Margin 3.6% Total Debt/Capital 35.5%
Asset Turnover 1.81
Current Ratio 0.87 Net Fixed Asset Turnover 25.87
Quick Ratio 0.73 Accounts receivable turnover-days 38.26
Debt to Assets 19.34% Inventory Days -
Tot Debt to Common Equity 55.25% Accounts Payable Turnover Day -
Accounts Receivable Turnover 9.57 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Compass Group PLCPrice/Volume
Valuation Analysis
917'443.00
Current Price (3/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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60'000.0
70'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 181'766'878 9.95 (878'115) 25.03.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 120'430'975 6.59 11'901'405 31.01.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 88'023'379 4.82 2'015'817 28.02.2013 Unclassified
ARTISAN PARTNERS HOL Multiple Portfolios REG 70'315'379 3.85 1'786'354 01.11.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 50'472'967 2.76 (365'885) 01.11.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 44'566'371 2.44 1'077'028 30.11.2012 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 43'264'770 2.37 704'261 01.11.2012 Government
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 37'320'195 2.04 1'983'711 31.12.2012 Investment Advisor
INVESCO LTD Multiple Portfolios REG 35'352'041 1.93 (963'504) 01.11.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 31'731'888 1.74 (1'471'820) 01.11.2012 Investment Advisor
FMR LLC n/a ULT-AGG 30'164'486 1.65 (488'309) 31.01.2013 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 29'130'450 1.59 5'795'071 01.11.2012 Investment Advisor
MONDRIAN INVESTMENT Multiple Portfolios REG 29'119'406 1.59 (3'266'913) 01.11.2012 Hedge Fund Manager
AVIVA INVESTORS Multiple Portfolios REG 26'293'485 1.44 (2'083'666) 01.11.2012 Investment Advisor
MARATHON ASSET MANAG Multiple Portfolios REG 25'022'872 1.37 (462'367) 01.11.2012 Investment Advisor
UBS n/a ULT-AGG 24'993'826 1.37 (65'566) 31.01.2013 Unclassified
LONGVIEW PARTNERS (G Multiple Portfolios REG 23'356'375 1.28 (5'654'098) 01.11.2012 Unclassified
HSBC INVESTMENTS UK Multiple Portfolios REG 23'254'860 1.27 1'359'774 01.11.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 22'267'314 1.22 210'329 21.03.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 21'765'882 1.19 2'541'703 01.11.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley JAMIE ROLLO Equalwt/In-Line 3 M 810 12 month 27.03.2013
Raymond James JULIEN RICHER market perform 3 M #N/A N/A Not Provided 27.03.2013
Oddo & Cie GUILLAUME RASCOUSSIER neutral 3 M 800 Not Provided 27.03.2013
Investec JAMES HOLLINS buy 5 M 900 12 month 26.03.2013
RBC Capital Markets ANDREW BROOKE underperform 1 M 725 12 month 26.03.2013
Credit Suisse TIM RAMSKILL outperform 5 M 940 Not Provided 26.03.2013
JPMorgan MIKE J GIBBS overweight 5 M 890 6 month 26.03.2013
Shore Capital Stockbrokers GREG JOHNSON hold 3 M #N/A N/A Not Provided 26.03.2013
Kepler Capital Markets CATHERINE ROLLAND reduce 2 M 780 Not Provided 26.03.2013
Bryan Garnier & Cie BRUNO DE LA ROCHEBROCHARD neutral 3 M 730 6 month 26.03.2013
Nomura TIM BARRETT buy 5 M 832 12 month 26.03.2013
Numis Securities Ltd WYN ELLIS hold 3 M 850 Not Provided 26.03.2013
Oriel Securities Ltd JEFFREY HARWOOD buy 5 M 800 12 month 26.03.2013
Exane BNP Paribas MATTHIAS DESMARAIS outperform 5 M 900 Not Provided 26.03.2013
Deutsche Bank RICHARD CARTER buy 5 M 898 12 month 25.03.2013
Barclays VICTORIA LEE overweight 5 M 840 Not Provided 25.03.2013
Panmure Gordon & Co Limited SIMON FRENCH hold 3 D 820 Not Provided 22.03.2013
AlphaValue BERENICE LACROIX reduce 2 M 816 6 month 21.03.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 21.03.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 11.03.2013
Goldman Sachs NICK EDELMAN Buy/Neutral 5 M 915 12 month 27.02.2013
Baden Hill LLP CRAIG FRASER buy 5 R #N/A N/A Not Provided 21.02.2013
Cantor Fitzgerald KEVIN LAPWOOD hold 3 N 800 Not Provided 11.02.2013
Natixis GEOFFREY D'HALLUIN neutral 3 M 775 Not Provided 08.02.2013
HSBC LENA THAKKAR underweight 1 M 700 Not Provided 31.01.2013
Espirito Santo Investment Bank ResearchDAVID BROCKTON neutral 3 D 750 Not Provided 03.01.2013
Jefferies JAMES WHEATCROFT hold 3 U 710 12 month 28.11.2012
CA Cheuvreux THOMAS MESMIN outperform 5 M 765 Not Provided 22.11.2012
Canaccord Genuity Corp JULIAN CATER hold 3 M 665 Not Provided 26.07.2012
Holdings By:
Compass Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
SSE PLC generates, transmits, distributes and supplies electricity to
industrial, commercial and domestic customers in the United Kingdom and
Ireland. The Company also stores and distributes natural gas, and operates a
telecommunications network that offers bandwidth and capacity to companies,
public sector organizations, Internet service providers, and others.
Latest Fiscal Year: 03/2012
LTM as of: 02/yy
52-Week High (21.03.2013) 1'499.00
52-Week Low (25.07.2012) 1'286.00
Daily Volume
1478
52-Week High % Change -1.47% Dividend Yield 5.50
52-Week Low % Change 14.85% Beta 0.61
% 52 Week Price Range High/Low 93.43% Equity Float 963.71
Shares Out 19.03.2013 964.3 Short Int -
14'252.66 1 Yr Total Return 16.66%
Total Debt 6'245.60 YTD Return 6.06%
Preferred Stock 0.0 Adjusted BETA 0.606
Minority Interest 0.0 Analyst Recs 23
Cash and Equivalents 189.20 Consensus Rating 3.087
Enterprise Value 19'498.96
Average Volume 5 Day 1'900'221
SSE LN EQUITY YTD Change - Average Volume 30 Day 1'699'207
SSE LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'805'876
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 02/yy 02/yy 03/13 Y 03/14 Y - -
15'256.3 25'424.2 21'550.4 28'334.2 31'723.9 - - 31'706.3 33'056.0 - -
1.04x 0.60x 0.74x 0.60x 0.59x - - 0.67x 0.66x - -
1'559.9 1'784.1 1'773.4 1'856.3 1'946.8 - - 2'169.9 2'304.5 - -
10.18x 8.58x 8.97x 9.13x 9.56x - - 8.99x 8.46x - -
872.9 112.3 1'235.3 1'504.5 197.8 - - 1'059.1 1'078.9 - -
13.88x 87.20x 8.22x 7.77x 63.01x - - 13.00x 12.68x - -
EBITDA 1'946.80 Long-Term Rating Date 21.08.2009
EBIT 1'371.50 Long-Term Rating A-
Operating Margin 4.32% Long-Term Outlook NEG
Pretax Margin 0.85% Short-Term Rating Date 21.08.2009
Return on Assets 1.24% Short-Term Rating A-2
Return on Common Equity 4.70%
Return on Capital 6.42% EBITDA/Interest Exp. 3.88
Asset Turnover 1.69% (EBITDA-Capex)/Interest Exp. 0.89
Net Debt/EBITDA 2.53
Gross Margin 7.1% Total Debt/EBITDA 2.96
EBITDA Margin 6.6%
EBIT Margin 4.7% Total Debt/Equity 136.2%
Net Income Margin 0.6% Total Debt/Capital 57.7%
Asset Turnover 1.69
Current Ratio 1.00 Net Fixed Asset Turnover 3.40
Quick Ratio 0.51 Accounts receivable turnover-days -
Debt to Assets 31.73% Inventory Days 4.85
Tot Debt to Common Equity 136.24% Accounts Payable Turnover Day 45.98
Accounts Receivable Turnover - Cash Conversion Cycle 2.21
Inventory Turnover 75.49
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
SSE PLCPrice/Volume
Valuation Analysis
397'204.00
Current Price (3/dd/yy) Market Data
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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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL GROUP COMPAN n/a ULT-AGG 85'895'986 8.91 (9'487'100) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 45'004'899 4.67 (1'426'950) 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 30'027'307 3.11 (368'384) 01.02.2013 Unclassified
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 27'301'984 2.83 1'649'324 26.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 23'492'836 2.44 6'581'313 01.02.2013 Investment Advisor
BREWIN DOLPHIN LIMIT Multiple Portfolios REG 18'976'901 1.97 14'632 01.02.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 13'858'241 1.44 5'769'622 01.02.2013 Unclassified
CLEARSTREAM BANKING Multiple Portfolios REG 11'911'626 1.24 551'675 01.02.2013 Bank
RATHBONE UNIT TRUST Multiple Portfolios REG 11'195'816 1.16 30'177 01.02.2013 Investment Advisor
PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 10'670'380 1.11 - 31.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 9'927'607 1.03 410'077 31.12.2012 Investment Advisor
FEDERATED INVESTORS Multiple Portfolios MF-AGG 9'783'770 1.01 765'375 31.12.2012 Investment Advisor
RENSBURG INVESTMENT Multiple Portfolios REG 8'732'939 0.91 (78'985) 01.02.2013 Investment Advisor
UBS n/a ULT-AGG 8'669'092 0.9 3'917'020 01.02.2013 Unclassified
VANGUARD GROUP INC Multiple Portfolios REG 8'656'546 0.9 481'312 01.02.2013 Investment Advisor
MORGAN STANLEY INVES Multiple Portfolios REG 7'231'304 0.75 (356'830) 01.02.2013 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 6'788'561 0.7 70'228 31.12.2012 Investment Advisor
TD WATERHOUSE GROUP Multiple Portfolios REG 6'244'569 0.65 343'533 01.02.2013 Investment Advisor
HARGREAVES LANSDOWN Multiple Portfolios REG 6'238'761 0.65 381'297 01.02.2013 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 5'773'007 0.6 (174'849) 01.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets JOHN MUSK outperform 5 M 1'550 12 month 26.03.2013
Exane BNP Paribas IAIN TURNER outperform 5 M 1'620 Not Provided 25.03.2013
HSBC VERITY MITCHELL underweight 1 D 1'490 Not Provided 21.03.2013
AlphaValue MYRIAM COHEN add 4 M 1'520 6 month 21.03.2013
Societe Generale ASHLEY THOMAS sell 1 M 1'249 12 month 13.03.2013
Goldman Sachs ANDREW MEAD Sell/Neutral 1 M 1'154 12 month 11.03.2013
Day by Day VALERIE GASTALDY buy 5 U 1'528 3 month 04.03.2013
Raymond James EMMANUEL RETIF underperform 1 M 1'270 Not Provided 27.02.2013
Cantor Fitzgerald ANGELOS ANASTASIOU hold 3 N 1'433 Not Provided 11.02.2013
Credit Suisse MARK FRESHNEY outperform 5 M 1'600 Not Provided 07.02.2013
Berenberg Bank ROBERT CHANTRY hold 3 M 1'430 Not Provided 05.02.2013
S&P Capital IQ CLIVE ROBERTS hold 3 M 1'500 12 month 05.02.2013
Liberum Capital Ltd GUILLAUME REDGWELL buy 5 M 1'600 Not Provided 25.01.2013
Barclays PETER BISZTYGA overweight 5 M 1'585 Not Provided 25.01.2013
Morgan Stanley BOBBY CHADA Underwt/In-Line 1 M 1'185 12 month 24.01.2013
EVA Dimensions AUSTIN BURKETT sell 1 M #N/A N/A Not Provided 17.01.2013
Nomura JONATHAN CONSTABLE reduce 2 M 1'265 12 month 12.12.2012
JPMorgan EDMUND REID underweight 1 M 1'190 3 month 23.11.2012
Redburn Partners JAMIE TUNNICLIFFE buy 5 M #N/A N/A Not Provided 16.10.2012
Deutsche Bank MARTIN BROUGH hold 3 D 1'400 12 month 06.08.2012
Holdings By:
SSE PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
WPP plc operates a communications services group. The Company's operations
encompass advertising, media investment management, information and
consultancy, public relations and public affairs, healthcare and specialist
communications, and branding and identity services.
Latest Fiscal Year: 12/2012
LTM as of: 02/yy
52-Week High (08.03.2013) 1'096.00
52-Week Low (06.06.2012) 733.00
Daily Volume
1033
52-Week High % Change -5.66% Dividend Yield 2.76
52-Week Low % Change 41.06% Beta 1.12
% 52 Week Price Range High/Low 85.67% Equity Float 1'243.05
Shares Out 08.03.2013 1'263.9 Short Int -
13'055.63 1 Yr Total Return 23.13%
Total Debt 4'766.50 YTD Return 16.44%
Preferred Stock 0.0 Adjusted BETA 1.122
Minority Interest 249.6 Analyst Recs 32
Cash and Equivalents 1'945.30 Consensus Rating 4.063
Enterprise Value 16'126.43
Average Volume 5 Day 1'998'413
WPP LN EQUITY YTD Change - Average Volume 30 Day 2'959'047
WPP LN EQUITY YTD % CHANGE - Average Volume 3 Month 3'144'777
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 02/yy 02/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
7'476.9 8'684.3 9'331.0 10'021.8 10'373.1 62'071.0 56'940.0 11'022.8 11'590.4 2'482.0 2'688.0
1.11x 1.21x 1.29x 1.12x 1.38x 1.52x 1.29x 1.42x 1.29x - -
1'107.6 1'135.8 1'358.4 1'576.7 1'645.0 5'367.0 4'156.0 1'870.0 2'002.6 - -
7.51x 9.23x 8.89x 7.14x 8.70x 4.76x 4.82x 8.62x 8.05x - -
439.1 437.7 586.0 840.1 822.7 3'492.0 2'372.0 1'050.0 1'141.7 - -
10.48x 16.97x 16.61x 9.99x 13.42x 8.83x 9.15x 12.78x 11.65x - -
EBITDA 1'645.00 Long-Term Rating Date 10.11.2008
EBIT 1'248.40 Long-Term Rating BBB
Operating Margin 12.03% Long-Term Outlook STABLE
Pretax Margin 10.53% Short-Term Rating Date 05.04.2011
Return on Assets 3.32% Short-Term Rating A-2
Return on Common Equity 12.21%
Return on Capital 9.86% EBITDA/Interest Exp. 5.49
Asset Turnover 0.42% (EBITDA-Capex)/Interest Exp. 4.52
Net Debt/EBITDA 1.72
Gross Margin 91.7% Total Debt/EBITDA 2.90
EBITDA Margin 15.9%
EBIT Margin 12.0% Total Debt/Equity 70.0%
Net Income Margin 7.9% Total Debt/Capital 40.3%
Asset Turnover 0.42
Current Ratio 0.92 Net Fixed Asset Turnover 13.86
Quick Ratio 0.67 Accounts receivable turnover-days 220.69
Debt to Assets 19.16% Inventory Days 145.43
Tot Debt to Common Equity 69.98% Accounts Payable Turnover Day 3045.15
Accounts Receivable Turnover 1.66 Cash Conversion Cycle -2679.03
Inventory Turnover 2.52
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
WPP PLCPrice/Volume
Valuation Analysis
398'538.00
Current Price (3/dd/yy) Market Data
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10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
70'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SUN LIFE FINANCIAL I n/a ULT-AGG 70'862'918 5.61 13'537'605 31.10.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 61'390'681 4.86 (1'528'975) 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 56'149'172 4.44 22'182'791 31.01.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 44'740'301 3.54 - 20.04.2012 Unclassified
VANGUARD GROUP INC Multiple Portfolios MF-AGG 41'130'059 3.25 21'688'538 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 37'363'273 2.96 (4'221'727) 11.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 27'110'460 2.15 (2'314'398) 31.12.2012 Investment Advisor
SORRELL MARTIN STUAR n/a RNS-DIR 18'904'480 1.5 - 14.03.2013 n/a
D E SHAW & CO UK LTD n/a Short (15'560'800) -1.23 (6'452'270) 13.02.2013 Other
SCOTTISH WIDOWS n/a ULT-AGG 15'428'314 1.22 2'697'345 30.11.2012 Unclassified
FIRST PACIFIC ADVISO Multiple Portfolios MF-AGG 10'134'960 0.8 176'552 31.12.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 10'046'088 0.79 10'046'088 31.01.2013 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 9'354'119 0.74 129'258 21.03.2013 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 9'291'280 0.74 904'965 31.12.2012 Investment Advisor
SUSQUEHANNA INTERNAT n/a Short (6'323'542) -0.5 120'937 12.12.2012 Other
ROYAL BANK OF CANADA n/a ULT-AGG 6'235'446 0.49 (19'771) 30.11.2012 Bank
JO HAMBRO CAPITAL MA Multiple Portfolios MF-AGG 5'535'125 0.44 (325'574) 30.11.2012 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 4'797'561 0.38 129'059 31.01.2013 Investment Advisor
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 4'239'326 0.34 168'491 30.11.2012 Investment Advisor
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 4'050'134 0.32 85'141 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Berenberg Bank SARAH SIMON sell 1 M 1'050 Not Provided 26.03.2013
Nomura MATTHEW WALKER buy 5 M 1'215 6 month 26.03.2013
Exane BNP Paribas CHARLES BEDOUELLE outperform 5 M 1'250 Not Provided 26.03.2013
AlphaValue VERONIQUE CABIOC'H reduce 2 M 1'080 6 month 21.03.2013
Goldman Sachs RICHARD JONES Buy/Neutral 5 M 1'340 12 month 20.03.2013
Kepler Capital Markets CONOR O'SHEA hold 3 M 1'135 Not Provided 20.03.2013
Pivotal Research Group LLC BRIAN WIESER hold 3 M 980 12 month 15.03.2013
JPMorgan FILIPPO PIETRO LO FRANCO overweight 5 M 1'282 9 month 08.03.2013
Sanford C. Bernstein & Co CLAUDIO ASPESI outperform 5 M 1'300 12 month 06.03.2013
Investec STEVEN LIECHTI buy 5 M 1'175 12 month 05.03.2013
BMO Capital Markets DANIEL SALMON market perform 3 M 1'000 Not Provided 04.03.2013
Societe Generale LAURENT PICARD buy 5 M 1'210 12 month 04.03.2013
Natixis JEROME BODIN reduce 2 M 1'000 Not Provided 04.03.2013
Day by Day VALERIE GASTALDY buy 5 M 1'210 3 month 04.03.2013
Barclays JULIEN ROCH overweight 5 M 1'230 Not Provided 04.03.2013
Deutsche Bank PATRICK KIRBY hold 3 M 1'050 12 month 02.03.2013
Macquarie TIMOTHY W NOLLEN outperform 5 M 1'200 12 month 02.03.2013
Jefferies WILL SMITH buy 5 M 1'150 12 month 01.03.2013
S&P Capital IQ ALEXANDER WISCH hold 3 M 1'150 12 month 01.03.2013
Numis Securities Ltd PAUL RICHARDS buy 5 M 1'270 Not Provided 01.03.2013
Liberum Capital Ltd IAN WHITTAKER buy 5 M 1'180 Not Provided 21.02.2013
Morgan Stanley PATRICK WELLINGTON Equalwt/Attractive 3 M 1'090 12 month 14.02.2013
Oddo & Cie BRUNO HARENG neutral 3 M 950 Not Provided 22.01.2013
Credit Suisse NICK BERTOLOTTI outperform 5 M 950 Not Provided 21.01.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 17.01.2013
HSBC DAN GRAHAM overweight 5 M 960 Not Provided 12.11.2012
Panmure Gordon & Co Limited ALEX DE GROOTE hold 3 M 820 Not Provided 26.10.2012
Espirito Santo Investment Bank ResearchGIASONE SALATI buy 5 M 1'360 Not Provided 04.09.2012
CA Cheuvreux THOMAS JORION outperform 5 M 1'000 Not Provided 31.08.2012
WYT Ltd ANTHONY DE LARRINAGA hold 3 M 844 12 month 18.03.2012
N+1 Singer Ltd JOHNATHAN BARRETT not rated #N/A N/A M #N/A N/A Not Provided 01.03.2012
Wells Fargo Securities, LLC PETER STABLER outperform 5 M #N/A N/A Not Provided 08.02.2012
Holdings By:
WPP PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Glencore International PLC, through its subsidiaries, supplies commodities and
raw materials to industrial consumers. The Company operates in three groups:
Metals and Minerals, Energy Products, and Agricultural Products.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (27.04.2012) 439.95
52-Week Low (27.06.2012) 289.35
Daily Volume
358.55
52-Week High % Change -18.50% Dividend Yield 2.91
52-Week Low % Change 23.92% Beta 1.39
% 52 Week Price Range High/Low 44.85% Equity Float 3'358.26
Shares Out 31.12.2012 7'099.5 Short Int -
25'455.10 1 Yr Total Return -8.31%
Total Debt 35'526.00 YTD Return 2.06%
Preferred Stock 0.0 Adjusted BETA 1.387
Minority Interest 3'034.0 Analyst Recs 17
Cash and Equivalents 2'820.00 Consensus Rating 3.882
Enterprise Value 74'184.83
Average Volume 5 Day 14'668'200
GLEN LN EQUITY YTD Change - Average Volume 30 Day 15'465'560
GLEN LN EQUITY YTD % CHANGE - Average Volume 3 Month 13'524'760
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 09/12 Q3 12/12 Q4
152'236.0 106'364.0 144'978.0 186'152.0 214'436.0 2'537.7 2'928.4 217'949.7 229'254.5 - -
- - - 0.39x 0.36x 9.29x 9.79x 0.32x 0.29x - -
5'068.0 3'074.0 4'474.0 4'423.0 4'601.0 421.6 536.9 7'255.9 9'103.7 - -
- - - 16.24x 16.57x 15.85x 13.26x 10.22x 8.15x - -
1'044.0 1'633.0 3'751.0 4'048.0 1'004.0 244.5 314.2 4'258.5 4'944.0 - -
- - - 8.50x 39.57x 17.76x 20.31x 9.12x 7.33x - -
EBITDA 4'601.00 Long-Term Rating Date 29.11.2012
EBIT 3'128.00 Long-Term Rating BBB
Operating Margin 1.46% Long-Term Outlook STABLE
Pretax Margin 0.50% Short-Term Rating Date 29.11.2012
Return on Assets 1.05% Short-Term Rating A-2
Return on Common Equity 3.32%
Return on Capital - EBITDA/Interest Exp. 3.36
Asset Turnover 2.24% (EBITDA-Capex)/Interest Exp. 1.19
Net Debt/EBITDA 7.11
Gross Margin 1.9% Total Debt/EBITDA 7.72
EBITDA Margin 2.1%
EBIT Margin 1.5% Total Debt/Equity 113.6%
Net Income Margin 0.5% Total Debt/Capital 50.9%
Asset Turnover 2.24
Current Ratio 1.15 Net Fixed Asset Turnover 11.32
Quick Ratio 0.45 Accounts receivable turnover-days 29.26
Debt to Assets 33.66% Inventory Days 32.88
Tot Debt to Common Equity 113.63% Accounts Payable Turnover Day 29.43
Accounts Receivable Turnover 12.51 Cash Conversion Cycle 32.71
Inventory Turnover 11.13
Fiscal Year Ended
Glencore International PLCPrice/Volume
Valuation Analysis
5'534'741.00
Current Price (3/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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1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GLASENBERG IVAN n/a RNS-RUL8 1'101'848'752 15.52 2'700'000 11.06.2012 n/a
MATE BADENE DANIEL F n/a RNS-MAJ 417'468'330 5.88 - 11.10.2012 n/a
MISTAKIDIS ARISTOTEL n/a RNS-RUL8 414'730'597 5.84 3'000'000 24.05.2012 n/a
PETERSON TOR n/a Co File 366'074'885 5.16 - 26.03.2012 n/a
BEARD ALEXANDER FRAN n/a Co File 320'260'410 4.51 - 26.03.2012 n/a
BLACKROCK n/a ULT-AGG 263'354'966 3.71 (19'162) 25.03.2013 Investment Advisor
JSC VERNY CAPITAL n/a RNS-RUL8 176'742'520 2.49 - 11.10.2012 Investment Advisor
FEGEL GARY n/a RNS-RUL8 154'814'588 2.18 - 15.02.2012 n/a
MAHONEY CHRIS n/a RNS-RUL8 143'834'821 2.03 - 15.02.2012 n/a
LEGAL & GENERAL n/a ULT-AGG 131'943'542 1.86 (39'649) 22.03.2013 Unclassified
FR GALAXY HOLDINGS S n/a RNS-RUL8 129'372'165 1.82 16'875'000 29.01.2013 Holding Company
CAPITAL GROUP COMPAN n/a ULT-AGG 112'185'928 1.58 (18'700) 25.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 99'636'344 1.4 8'889 25.03.2013 Investment Advisor
ABU DHABI INVESTMENT n/a RNS-RUL8 99'299'065 1.4 3'072'650 02.02.2012 Government
POPOVIC NIKOLA n/a RNS-RUL8 93'437'150 1.32 - 15.02.2012 n/a
FMR LLC n/a ULT-AGG 92'847'626 1.31 13'162'571 25.03.2013 Investment Advisor
WOLFENSBERGER CHRIST n/a RNS-RUL8 87'403'187 1.23 - 15.02.2012 n/a
BLUMGART STEVEN n/a RNS-RUL8 86'736'565 1.22 - 15.02.2012 n/a
ALVAREZ LUIS n/a RNS-RUL8 81'654'211 1.15 - 15.02.2012 n/a
CUTLER STUART n/a RNS-RUL8 78'568'743 1.11 200'000 18.05.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie JEFFREY LARGEY outperform 5 M 430 12 month 22.03.2013
Exane BNP Paribas SYLVAIN BRUNET neutral 3 M 450 Not Provided 21.03.2013
AlphaValue SACHIN KUMAR reduce 2 M 382 6 month 21.03.2013
Jefferies Christopher LaFemina buy 5 M 450 12 month 20.03.2013
Sanford C. Bernstein & Co PAUL GAIT outperform 5 M 475 12 month 15.03.2013
BMO Capital Markets TONY ROBSON market perform 3 U 400 Not Provided 12.03.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 11.03.2013
RBC Capital Markets TIMOTHY HUFF outperform 5 M 425 12 month 07.03.2013
Societe Generale ALAIN WILLIAM hold 3 M 410 12 month 06.03.2013
Deutsche Bank ROBERT CLIFFORD restricted #N/A N/A M #N/A N/A Not Provided 26.02.2013
Redburn Partners SIMON TOYNE neutral 3 M #N/A N/A Not Provided 11.02.2013
SBG Securities PETER DAVEY hold 3 M 400 12 month 29.01.2013
EVA Dimensions CRAIG STERLING sell 1 M #N/A N/A Not Provided 17.01.2013
Nomura SAM CATALANO restricted #N/A N/A M #N/A N/A Not Provided 16.01.2013
Liberum Capital Ltd ASH LAZENBY buy 5 M #N/A N/A Not Provided 10.01.2013
Standard Chartered SUBRAMANIAM VARADA outperform 5 M 454 12 month 22.11.2012
ABN Amro Bank N.V. TEUN TEEUWISSE buy 5 N 415 12 month 31.10.2012
Credit Suisse LIAM FITZPATRICK restricted #N/A N/A M #N/A N/A Not Provided 20.03.2012
Morgan Stanley ALAIN GABRIEL restricted #N/A N/A M #N/A N/A Not Provided 02.02.2012
JPMorgan BENJAMIN DEFAY restricted #N/A N/A M #N/A N/A Not Provided 02.02.2012
Holdings By:
Glencore International PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
ARM Holdings plc develops processors, data engines, peripherals, software, and
tools. The Group's solutions are used in a variety of applications, including
in the automotive, consumer entertainment, digital imaging, mass storage,
networking, security, and wireless industries.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (06.03.2013) 985.00
52-Week Low (18.07.2012) 463.60
Daily Volume
915.5
52-Week High % Change -7.21% Dividend Yield 0.49
52-Week Low % Change 97.15% Beta 1.01
% 52 Week Price Range High/Low 87.15% Equity Float 1'390.51
Shares Out 01.03.2013 1'396.5 Short Int -
12'785.07 1 Yr Total Return 53.18%
Total Debt 5.80 YTD Return 19.01%
Preferred Stock 0.0 Adjusted BETA 1.005
Minority Interest 0.0 Analyst Recs 30
Cash and Equivalents 386.30 Consensus Rating 3.467
Enterprise Value 12'404.57
Average Volume 5 Day 4'180'776
ARM LN EQUITY YTD Change - Average Volume 30 Day 3'641'526
ARM LN EQUITY YTD % CHANGE - Average Volume 3 Month 4'073'873
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
298.9 305.0 406.6 491.8 576.9 27'226.0 29'740.0 672.0 791.1 158.3 160.1
3.63x 7.36x 13.31x 15.56x 17.72x 6.64x 6.19x 18.14x 15.12x 77.73x 76.79x
90.0 63.1 125.6 159.3 226.5 6'939.0 7'447.0 329.6 412.1 74.3 72.8
12.05x 35.55x 43.09x 48.06x 45.14x 6.11x 6.16x 37.61x 30.08x 39.19x 36.12x
43.6 40.4 86.0 112.6 160.7 2'609.0 2'949.0 265.1 342.9 62.3 62.4
25.11x 55.60x 64.66x 70.69x 65.72x 12.36x 11.05x 48.67x 38.28x 48.11x 45.47x
EBITDA 226.50 Long-Term Rating Date -
EBIT 209.10 Long-Term Rating -
Operating Margin 36.25% Long-Term Outlook -
Pretax Margin 38.31% Short-Term Rating Date -
Return on Assets 11.62% Short-Term Rating -
Return on Common Equity 14.18%
Return on Capital 14.16% EBITDA/Interest Exp. 755.00
Asset Turnover 0.42% (EBITDA-Capex)/Interest Exp. 687.67
Net Debt/EBITDA -1.68
Gross Margin 94.5% Total Debt/EBITDA 0.03
EBITDA Margin 39.3%
EBIT Margin 36.2% Total Debt/Equity 0.5%
Net Income Margin 27.9% Total Debt/Capital 0.5%
Asset Turnover 0.42
Current Ratio 2.84 Net Fixed Asset Turnover 21.27
Quick Ratio 2.19 Accounts receivable turnover-days 77.44
Debt to Assets 0.40% Inventory Days 27.36
Tot Debt to Common Equity 0.48% Accounts Payable Turnover Day 84.05
Accounts Receivable Turnover 4.73 Cash Conversion Cycle 20.76
Inventory Turnover 13.38
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
ARM Holdings PLCPrice/Volume
Valuation Analysis
1'070'797.00
Current Price (3/dd/yy) Market Data
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10'000.0
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25'000.0
30'000.0
35'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL GROUP COMPAN n/a ULT-AGG 95'690'311 6.85 (1'388'313) 01.02.2013 Investment Advisor
FMR LLC n/a ULT-AGG 82'157'574 5.88 1'385'562 31.12.2012 Investment Advisor
BAILLIE GIFFORD AND Multiple Portfolios REG 81'330'184 5.82 209'000 01.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 67'090'522 4.8 (3'298'076) 25.03.2013 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios REG 61'899'954 4.43 93'283 01.12.2012 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 49'773'219 3.56 713'733 01.12.2012 Unclassified
JANUS CAPITAL MANAGE n/a ULT-AGG 48'892'118 3.5 - 01.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 34'034'027 2.44 619'743 31.12.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 26'857'349 1.92 7'456'490 01.12.2012 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 26'616'977 1.91 - 01.12.2012 Government
LONE PINE CAPITAL LL Multiple Portfolios REG 18'045'002 1.29 (622'766) 01.12.2012 Hedge Fund Manager
FRANKLIN RESOURCES n/a ULT-AGG 16'369'401 1.17 (2'524'489) 31.12.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 16'092'906 1.15 - 01.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios REG 15'992'665 1.15 542'323 01.12.2012 Investment Advisor
APG ALGEMENE PENSIOE Multiple Portfolios REG 15'841'776 1.13 (722'733) 01.12.2012 Pension Fund (ERISA)
STANDARD LIFE INVEST Multiple Portfolios REG 14'958'679 1.07 3'127'478 01.12.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 14'519'056 1.04 460'541 31.12.2012 Investment Advisor
HARDING LOEVNER LP Multiple Portfolios REG 9'719'233 0.7 - 01.12.2012 Investment Advisor
NATIXIS ASSET MANAGE Multiple Portfolios REG 9'530'232 0.68 (630'000) 01.12.2012 Investment Advisor
UBS n/a ULT-AGG 9'033'928 0.65 320'681 31.01.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Exane BNP Paribas JEROME RAMEL outperform 5 M 1'000 Not Provided 26.03.2013
AlphaValue LIONEL PELLICER sell 1 M 743 6 month 26.03.2013
BMO Capital Markets AMBRISH SRIVASTAVA outperform 5 M 1'200 Not Provided 25.03.2013
Sanford C. Bernstein & Co PIERRE FERRAGU underperform 1 M 550 12 month 21.03.2013
RBC Capital Markets ANDREW DUNN outperform 5 M 960 12 month 19.03.2013
Espirito Santo Investment Bank ResearchVIJAY ANAND neutral 3 M 920 Not Provided 18.03.2013
Barclays ANDREW M GARDINER overweight 5 M 1'075 Not Provided 18.03.2013
Jefferies LEE SIMPSON buy 5 U 1'300 12 month 15.03.2013
Morgan Stanley FRANCOIS MEUNIER Equalwt/Cautious 3 M 911 12 month 08.03.2013
Societe Generale PETER KNOX sell 1 M 640 12 month 06.03.2013
Berenberg Bank ADNAAN AHMAD buy 5 M 1'150 Not Provided 05.03.2013
Deutsche Bank KAI KORSCHELT sell 1 M 445 12 month 04.03.2013
Peel Hunt PAUL GILMER MORLAND hold 3 M 930 Not Provided 04.03.2013
Credit Suisse JUSTIS MCEVILLY outperform 5 M 1'130 Not Provided 01.03.2013
Redburn Partners SUMANT WAHI buy 5 M #N/A N/A Not Provided 21.02.2013
Day by Day VALERIE GASTALDY buy 5 M 1'090 3 month 14.02.2013
Goldman Sachs SIMON F SCHAFER Buy/Neutral 5 M 1'250 12 month 07.02.2013
JPMorgan SANDEEP S DESHPANDE neutral 3 M 625 9 month 06.02.2013
CA Cheuvreux BERND LAUX outperform 5 M 1'040 Not Provided 06.02.2013
Natixis STEPHANE HOURI neutral 3 D 955 Not Provided 06.02.2013
S&P Capital IQ JAMES CRAWSHAW hold 3 D 1'000 12 month 06.02.2013
Numis Securities Ltd NICK JAMES hold 3 M 920 Not Provided 06.02.2013
Investec JULIAN YATES hold 3 M 940 12 month 05.02.2013
Finncap LORNE DANIEL hold 3 M 900 12 month 05.02.2013
EVA Dimensions ANDREW S ZAMFOTIS underweight 1 M #N/A N/A Not Provided 17.01.2013
D.A. Davidson & Co AALOK K SHAH neutral 3 M 655 12 month 23.10.2012
Liberum Capital Ltd JANARDAN MENON sell 1 M 440 Not Provided 27.07.2012
Merchant Securities JULIAN TOLLEY buy 5 M 680 12 month 09.11.2011
Panmure Gordon & Co Limited GEORGE O'CONNOR sell 1 M 265 Not Provided 02.09.2010
Holdings By:
ARM Holdings PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
BAE Systems plc develops, delivers, and supports advanced defense and aerospace
systems. The Group manufactures military aircraft, surface ships, submarines,
radar, avionics, communications, electronics, and guided weapon systems. BAE
Systems services clients located throughout the world.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (20.03.2013) 395.60
52-Week Low (01.06.2012) 268.60
Daily Volume
382
52-Week High % Change -3.59% Dividend Yield 5.11
52-Week Low % Change 42.00% Beta 0.97
% 52 Week Price Range High/Low 93.94% Equity Float 3'242.84
Shares Out 26.03.2013 3'244.7 Short Int -
12'394.90 1 Yr Total Return 33.66%
Total Debt 2'988.00 YTD Return 13.21%
Preferred Stock 0.0 Adjusted BETA 0.972
Minority Interest 54.0 Analyst Recs 22
Cash and Equivalents 3'355.00 Consensus Rating 3.455
Enterprise Value 12'081.90
Average Volume 5 Day 6'912'698
BA/ LN EQUITY YTD Change - Average Volume 30 Day 7'457'678
BA/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 6'262'798
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
16'671.0 20'374.0 20'980.0 17'770.0 16'620.0 - - 19'311.9 19'207.9 - -
0.81x 0.60x 0.54x 0.58x 0.64x - - 0.67x 0.69x - -
2'512.0 2'379.0 2'394.0 2'282.0 2'199.0 - - 2'394.8 2'344.6 - -
5.37x 5.12x 4.72x 4.53x 4.84x - - 5.05x 5.15x - -
1'745.0 (67.0) 1'052.0 1'240.0 1'068.0 - - 1'350.7 1'313.0 - -
7.60x - 11.83x 7.71x 10.27x - - 9.07x 9.23x - -
EBITDA 2'199.00 Long-Term Rating Date 16.10.2007
EBIT 1'530.00 Long-Term Rating BBB+
Operating Margin 9.21% Long-Term Outlook STABLE
Pretax Margin 8.24% Short-Term Rating Date 24.04.2006
Return on Assets 4.71% Short-Term Rating A-2
Return on Common Equity 26.83%
Return on Capital - EBITDA/Interest Exp. 1.38
Asset Turnover 0.73% (EBITDA-Capex)/Interest Exp. 1.15
Net Debt/EBITDA -0.17
Gross Margin - Total Debt/EBITDA 1.36
EBITDA Margin 13.2%
EBIT Margin 9.2% Total Debt/Equity 80.3%
Net Income Margin 6.4% Total Debt/Capital 44.2%
Asset Turnover 0.73
Current Ratio 0.78 Net Fixed Asset Turnover 6.95
Quick Ratio 0.38 Accounts receivable turnover-days 76.45
Debt to Assets 13.41% Inventory Days -
Tot Debt to Common Equity 80.32% Accounts Payable Turnover Day -
Accounts Receivable Turnover 4.79 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
BAE Systems PLCPrice/Volume
Valuation Analysis
1'075'269.00
Current Price (3/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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. ! F
. 2 F
0 ! F
0 2 F
0.0
500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
4'000.0
4'500.0
5'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESCO LTD n/a RNS-RUL8 434'657'796 13.4 1'632'804 08.10.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 188'777'141 5.82 (5'493'371) 01.01.2013 Investment Advisor
AXA n/a ULT-AGG 173'121'454 5.34 1'170'655 01.01.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 157'632'817 4.86 6'040'640 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 131'374'985 4.05 (1'170'558) 28.02.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 117'018'010 3.61 59'046'605 01.01.2013 Unclassified
PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 115'758'222 3.57 342'354 31.07.2012 Investment Advisor
SILCHESTER INTL INVE Multiple Portfolios REG 114'594'189 3.53 720'000 01.01.2013 Investment Advisor
BAE SYSTEMS PLC SIP Multiple Portfolios REG 104'111'765 3.21 1'967'358 01.01.2013 Unclassified
LLOYDS BANKING GROUP n/a ULT-AGG 90'005'845 2.77 (59'234) 28.02.2013 Investment Advisor
STATE STREET n/a ULT-AGG 89'405'314 2.76 35'460 26.03.2013 Investment Advisor
UBS n/a ULT-AGG 87'196'888 2.69 108'276 31.01.2013 Unclassified
NEWTON INV MGMT Multiple Portfolios REG 65'214'916 2.01 849'248 01.01.2013 Mutual Fund Manager
MAJEDIE ASSET MANAGE Multiple Portfolios REG 64'156'833 1.98 (1'632'401) 01.01.2013 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 58'846'516 1.81 (845'307) 26.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 55'533'283 1.71 3'414 01.01.2013 Investment Advisor
FMR LLC n/a ULT-AGG 53'409'236 1.65 9'263'895 31.01.2013 Investment Advisor
ARTEMIS INVESTMENT M Multiple Portfolios REG 47'629'968 1.47 3'672'855 01.01.2013 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 41'681'313 1.28 (6'837'681) 01.01.2013 Investment Advisor
GRANTHAM MAYO VAN OT n/a RNS-RUL8 38'552'907 1.19 (33'900) 08.10.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies SANDY MORRIS buy 5 M 350 12 month 25.03.2013
Sanford C. Bernstein & Co DOUGLAS S HARNED market perform 3 M 347 12 month 22.03.2013
AlphaValue THOMAS PICHERIT reduce 2 D 378 6 month 21.03.2013
Investec ANDREW GOLLAN hold 3 M 375 12 month 19.03.2013
Societe Generale ZAFAR KHAN hold 3 M 350 12 month 18.03.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 11.03.2013
S&P Capital IQ UNAI FRANCO sell 1 M 320 12 month 27.02.2013
Exane BNP Paribas TRISTAN SANSON neutral 3 M 360 Not Provided 26.02.2013
Deutsche Bank BEN FIDLER buy 5 M 375 12 month 22.02.2013
Morgan Stanley RUPINDER VIG Equalwt/In-Line 3 M 350 12 month 22.02.2013
Barclays CARTER COPELAND overweight 5 M 370 Not Provided 22.02.2013
RBC Capital Markets ROBERT STALLARD underperform 1 M 315 12 month 21.02.2013
JPMorgan DAVID H. PERRY neutral 3 M 360 9 month 21.02.2013
Espirito Santo Investment Bank ResearchEDWARD STACEY buy 5 M 425 Not Provided 18.02.2013
Kepler Capital Markets CHRISTOPHE MENARD hold 3 M 340 Not Provided 12.02.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 17.01.2013
CA Cheuvreux ANTOINE BOIVIN-CHAMPEAUX outperform 5 M 360 Not Provided 11.10.2012
Arden Partners Ltd GRAHAM J WEBSTER add 4 M #N/A N/A Not Provided 01.10.2012
CM - CIC Securities(ESN) HARALD LIBERGE-DONDOUX buy 5 M 360 12 month 03.08.2012
Canaccord Genuity Corp PAUL BRANT buy 5 M 345 Not Provided 26.03.2012
Holdings By:
BAE Systems PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Experian PLC offers credit and marketing services. The Company manages large
databases that enable credit granting and monitoring, and help minimize fraud
and credit risk, offers specialist analytical solutions for credit scoring,
risk management, and processing applications, processes checks and credit
cards, and offers consumers credit reports and scores.
Latest Fiscal Year: 03/2012
LTM as of: 02/yy
52-Week High (14.03.2013) 1'193.00
52-Week Low (18.05.2012) 859.00
Daily Volume
1120
52-Week High % Change -6.37% Dividend Yield 1.93
52-Week Low % Change 30.03% Beta 0.95
% 52 Week Price Range High/Low 84.13% Equity Float 1'006.71
Shares Out 05.03.2013 1'010.1 Short Int -
11'313.08 1 Yr Total Return 15.02%
Total Debt 2'192.00 YTD Return 14.73%
Preferred Stock 0.0 Adjusted BETA 0.949
Minority Interest 159.0 Analyst Recs 18
Cash and Equivalents 261.00 Consensus Rating 4.500
Enterprise Value 19'344.71
Average Volume 5 Day 1'639'504
EXPN LN EQUITY YTD Change - Average Volume 30 Day 1'513'142
EXPN LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'639'254
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 02/yy 03/13 Y 03/14 Y - -
3'789.0 3'873.0 3'880.0 3'885.0 4'487.0 - - 4'752.3 5'152.5 - -
2.72x 2.24x 3.07x 3.71x 4.04x - - 4.26x 3.81x - -
1'086.0 1'139.0 1'124.0 1'258.0 1'478.0 - - 1'592.9 1'748.6 - -
9.50x 7.62x 10.59x 11.44x 12.26x - - 12.14x 11.06x - -
437.0 486.0 600.0 581.0 655.0 - - 836.0 981.3 - -
17.74x 13.34x 16.47x 25.10x 23.33x - - 20.23x 17.33x - -
EBITDA 1'478.00 Long-Term Rating Date -
EBIT 1'044.00 Long-Term Rating -
Operating Margin 23.27% Long-Term Outlook -
Pretax Margin 15.36% Short-Term Rating Date -
Return on Assets 4.19% Short-Term Rating -
Return on Common Equity 14.08%
Return on Capital 21.39% EBITDA/Interest Exp. 3.36
Asset Turnover 0.57% (EBITDA-Capex)/Interest Exp. 3.17
Net Debt/EBITDA 1.40
Gross Margin 62.1% Total Debt/EBITDA 1.81
EBITDA Margin 33.8%
EBIT Margin 24.1% Total Debt/Equity 79.1%
Net Income Margin 14.6% Total Debt/Capital 42.8%
Asset Turnover 0.57
Current Ratio 0.52 Net Fixed Asset Turnover 10.20
Quick Ratio 0.35 Accounts receivable turnover-days 69.13
Debt to Assets 26.88% Inventory Days -
Tot Debt to Common Equity 79.08% Accounts Payable Turnover Day -
Accounts Receivable Turnover 5.29 Cash Conversion Cycle 21.12
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
Experian PLCPrice/Volume
Valuation Analysis
181'756.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 51'371'146 5.09 - 25.03.2013 Investment Advisor
ARTISAN PARTNERS HOL n/a Co File 50'901'871 5.04 - 09.05.2012 Investment Advisor
FMR LLC n/a ULT-AGG 34'901'988 3.46 1'386'921 31.01.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 32'286'000 3.2 - 31.12.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 12'492'621 1.24 11'347 30.11.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 11'331'489 1.12 680'530 31.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 10'397'136 1.03 394'068 31.12.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 9'835'265 0.97 410'711 31.12.2012 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 9'372'533 0.93 (738'866) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 8'828'054 0.87 (950'546) 31.12.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 8'544'826 0.85 2'999'238 30.11.2012 Unclassified
BNP PARIBAS INV PART n/a ULT-AGG 7'667'018 0.76 (2'502'390) 31.01.2013 Investment Advisor
JUPITER ASSET MANAGE Multiple Portfolios MF-AGG 6'972'501 0.69 (59'173) 30.11.2012 Investment Advisor
TRIMARK INVESTMENT M Multiple Portfolios MF-AGG 5'578'540 0.55 (82'066) 31.12.2012 Unclassified
HARRIS ASSOCIATES LP Multiple Portfolios MF-AGG 5'505'401 0.55 4'079'400 31.12.2012 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 4'467'345 0.44 109'939 28.02.2013 Unclassified
TAUBE HODSON STONEX Multiple Portfolios MF-AGG 3'901'480 0.39 (61'410) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 3'686'289 0.36 (1'007'000) 31.01.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 3'665'940 0.36 963'795 31.01.2013 Investment Advisor
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 3'431'637 0.34 528'260 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies JUSTIN JORDAN buy 5 M 1'200 12 month 21.03.2013
Cantor Fitzgerald CAROLINE DE LA SOUJEOLE add 4 M 1'100 Not Provided 18.03.2013
Goldman Sachs CHARLES WILSON neutral/neutral 3 M 1'305 12 month 25.02.2013
Day by Day VALERIE GASTALDY buy 5 U 1'192 3 month 20.02.2013
Canaccord Genuity Corp GRAHAM BROWN sell 1 M 898 12 month 12.02.2013
Barclays PAUL D A SULLIVAN overweight 5 N 1'250 Not Provided 07.02.2013
HSBC RAJESH KUMAR overweight 5 M 1'200 Not Provided 04.02.2013
Evercore Partners DAVID M TOGUT overweight 5 M 1'400 12 month 30.01.2013
Nomura MATTHEW WALKER buy 5 M 1'215 12 month 30.01.2013
Oriel Securities Ltd HECTOR FORSYTHE buy 5 M 1'152 Not Provided 30.01.2013
JPMorgan ROBERT PLANT overweight 5 M 1'210 9 month 29.01.2013
EVA Dimensions CRAIG STERLING hold 3 M #N/A N/A Not Provided 17.01.2013
Credit Suisse ANDY GROBLER outperform 5 M 1'230 Not Provided 16.01.2013
Shore Capital Stockbrokers ROBIN SPEAKMAN buy 5 M #N/A N/A Not Provided 08.01.2013
Deutsche Bank ANDY CHU buy 5 M 1'200 12 month 24.10.2012
Holdings By:
Experian PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Tullow Oil plc explores for and produces oil and gas. The Group's assets are in
Africa, Europe, South America and Asia.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (27.03.2012) 1'599.00
52-Week Low (12.12.2012) 1'098.00
Daily Volume
1256
52-Week High % Change -21.45% Dividend Yield 0.63
52-Week Low % Change 14.39% Beta 1.23
% 52 Week Price Range High/Low 30.54% Equity Float 898.24
Shares Out 28.02.2013 907.8 Short Int -
11'402.18 1 Yr Total Return -18.93%
Total Debt 1'173.60 YTD Return -0.40%
Preferred Stock 0.0 Adjusted BETA 1.225
Minority Interest 92.4 Analyst Recs 35
Cash and Equivalents 330.20 Consensus Rating 3.600
Enterprise Value 18'157.08
Average Volume 5 Day 1'917'914
TLW LN EQUITY YTD Change - Average Volume 30 Day 1'920'296
TLW LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'174'538
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
1'280.9 911.8 1'089.8 2'304.2 2'344.1 - - 2'727.7 2'650.3 - -
7.60x 19.23x 17.80x 9.77x 8.33x - - 6.97x 7.52x - -
478.0 486.2 628.7 1'663.8 1'044.6 - - 1'889.3 1'875.9 - -
20.36x 36.06x 30.86x 13.54x 18.69x - - 9.61x 9.68x - -
413.4 23.6 71.0 649.0 624.3 - - 728.8 689.6 - -
21.37x 688.29x 243.62x 30.01x 29.75x - - 26.20x 27.65x - -
EBITDA 1'044.60 Long-Term Rating Date -
EBIT 482.70 Long-Term Rating -
Operating Margin 20.59% Long-Term Outlook -
Pretax Margin 47.60% Short-Term Rating Date -
Return on Assets 6.24% Short-Term Rating -
Return on Common Equity 12.59%
Return on Capital 9.78% EBITDA/Interest Exp. 17.71
Asset Turnover 0.23% (EBITDA-Capex)/Interest Exp. 6.64
Net Debt/EBITDA 0.81
Gross Margin 57.4% Total Debt/EBITDA 1.12
EBITDA Margin 44.6%
EBIT Margin 20.6% Total Debt/Equity 22.4%
Net Income Margin 26.6% Total Debt/Capital 18.1%
Asset Turnover 0.23
Current Ratio 1.05 Net Fixed Asset Turnover 0.59
Quick Ratio 0.27 Accounts receivable turnover-days -
Debt to Assets 12.51% Inventory Days 71.31
Tot Debt to Common Equity 22.44% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 5.13
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
Tullow Oil PLCPrice/Volume
Valuation Analysis
834'822.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 88'501'424 9.75 (10'253'392) 25.03.2013 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 49'204'193 5.42 (827'789) 03.12.2012 Investment Advisor
IFG INTL TRUST CO LT n/a Co File 38'960'366 4.29 - 13.03.2012 Corporation
LEGAL & GENERAL n/a ULT-AGG 34'592'411 3.81 247'443 03.12.2012 Unclassified
GENESIS ASSET MANAGE n/a RNS-MAJ 34'047'805 3.75 - 14.01.2013 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 26'618'768 2.93 - 31.01.2013 Investment Advisor
BAILLIE GIFFORD AND Multiple Portfolios REG 25'615'071 2.82 1'542'288 03.12.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 23'871'829 2.63 (193'985) 03.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios REG 23'832'447 2.63 627'730 03.12.2012 Investment Advisor
UBS n/a ULT-AGG 22'605'751 2.49 (122'239) 31.01.2013 Unclassified
GENESIS INVESTMENT M Multiple Portfolios REG 21'305'475 2.35 (1'255'509) 03.12.2012 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 20'641'618 2.27 - 03.12.2012 Government
SCOTTISH WIDOWS n/a ULT-AGG 17'499'691 1.93 4'756'712 03.12.2012 Unclassified
CARMIGNAC GESTION S Multiple Portfolios REG 16'994'926 1.87 (79'832) 03.12.2012 Unclassified
FMR LLC n/a ULT-AGG 16'948'666 1.87 (6'791'928) 31.01.2013 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios REG 16'376'351 1.8 291'947 03.12.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 16'367'377 1.8 (239'378) 31.12.2012 Investment Advisor
LANSDOWNE PARTNERS n/a Short (16'158'187) -1.78 (2'087'856) 11.01.2013 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 14'127'789 1.56 685'886 31.12.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 13'202'711 1.45 - 03.12.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale DAVID MIRZAI hold 3 M 1'340 12 month 27.03.2013
Investec BRIAN GALLAGHER sell 1 M 970 12 month 26.03.2013
Nomura THEEPAN JOTHILINGAM reduce 2 M 1'400 Not Provided 22.03.2013
Morgan Stanley JAMIE MADDOCK Overwt/Attractive 5 M 1'730 12 month 21.03.2013
Jefferies BRENDAN MICHAEL WARN buy 5 M 1'800 12 month 21.03.2013
AlphaValue ALEXANDRE ANDLAUER reduce 2 M 1'224 6 month 21.03.2013
Canaccord Genuity Corp THOMAS MARTIN hold 3 U 1'150 12 month 18.03.2013
Goodbody Stockbrokers Ltd GERRY F HENNIGAN buy 5 M 1'470 12 month 14.03.2013
Macquarie MARK WILSON underperform 1 M 959 12 month 08.03.2013
Sanford C. Bernstein & Co OSWALD CLINT outperform 5 M 1'800 12 month 07.03.2013
Exane BNP Paribas ALEJANDRO DEMICHELIS outperform 5 M 1'650 Not Provided 07.03.2013
HSBC PETER HITCHENS neutral 3 M 1'381 Not Provided 01.03.2013
Oriel Securities Ltd RICHARD GRIFFITH add 4 M #N/A N/A Not Provided 01.03.2013
Barclays RAHIM KARIM overweight 5 M 1'720 Not Provided 01.03.2013
Numis Securities Ltd SANJEEV BAHL hold 3 M 1'225 Not Provided 22.02.2013
FirstEnergy Capital Corp GERRY F DONNELLY outperform 5 M 1'480 12 month 21.02.2013
Liberum Capital Ltd ANDREW WHITTOCK buy 5 M 1'683 Not Provided 19.02.2013
RBC Capital Markets AL STANTON outperform 5 M 1'500 12 month 18.02.2013
EVA Dimensions CRAIG STERLING sell 1 D #N/A N/A Not Provided 18.02.2013
Tudor Pickering & Co ANISH KAPADIA trim 1 M 900 Not Provided 15.02.2013
SBG Securities LIONEL THEROND sell 1 D 1'250 12 month 15.02.2013
Deutsche Bank PHIL CORBETT hold 3 M 1'075 12 month 14.02.2013
Credit Suisse THOMAS YOICHI ADOLFF neutral 3 M 1'350 Not Provided 13.02.2013
WH Ireland Ltd ANGUS B MCPHAIL buy 5 M 1'515 12 month 13.02.2013
Global Hunter Securities JOHN MALONE neutral 3 M 1'300 12 month 13.02.2013
JPMorgan JAMES THOMPSON overweight 5 M 1'500 9 month 08.02.2013
Merrion Stockbrokers MUNA MULEYA buy 5 M 1'780 Not Provided 11.01.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 20.12.2012
Goldman Sachs CHRISTOPHOR JOST Buy/Cautious 5 U 1'453 12 month 12.12.2012
Mirabaud Securities TEAM COVERAGE neutral 3 U #N/A N/A Not Provided 12.12.2012
N+1 Singer Ltd SIMON HAWKINS buy 5 M 1'370 12 month 27.11.2012
Davy JOB LANGBROEK outperform 5 M #N/A N/A Not Provided 26.11.2012
Westhouse Securities PETER BASSETT not rated #N/A N/A M #N/A N/A Not Provided 04.07.2012
CAL Brokers Limited NANA AGYEI OPOKU-AGYEMANG buy 5 M #N/A N/A Not Provided 30.08.2011
Holdings By:
Tullow Oil PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Shire PLC markets, licenses and develops prescription medicines. The Group
focuses its operations on attention deficit and hyperactivity disorders, human
genetic therapies, gastrointestinal, and renal diseases.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (04.02.2013) 2'173.00
52-Week Low (26.10.2012) 1'682.00
Daily Volume
1977
52-Week High % Change -9.11% Dividend Yield 0.58
52-Week Low % Change 17.42% Beta 0.77
% 52 Week Price Range High/Low 60.49% Equity Float 556.46
Shares Out 26.03.2013 556.9 Short Int 1.62
11'010.79 1 Yr Total Return -6.47%
Total Debt 1'100.00 YTD Return 5.13%
Preferred Stock 0.0 Adjusted BETA 0.767
Minority Interest 0.0 Analyst Recs 23
Cash and Equivalents 1'482.20 Consensus Rating 4.522
Enterprise Value 16'247.95
Average Volume 5 Day 1'927'948
SHP LN EQUITY YTD Change - Average Volume 30 Day 1'739'587
SHP LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'515'374
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
2'999.7 2'986.2 3'456.3 4'233.7 4'648.3 1'588.3 1'913.7 5'062.3 5'440.5 1'249.5 1'247.3
3.06x 3.89x 4.07x 4.74x 3.56x 16.29x 23.94x 3.01x 2.56x 12.77x 12.61x
867.6 876.3 1'075.4 1'448.0 1'214.5 659.8 819.3 1'779.9 2'002.2 467.0 484.0
10.59x 13.26x 13.09x 13.85x 13.61x 10.59x 15.54x 9.13x 8.11x 8.06x -
156.0 491.6 588.0 865.0 745.4 94.0 144.7 1'289.4 1'459.5 310.3 304.3
45.95x 20.96x 22.34x 22.17x 22.84x 56.33x 68.96x 13.25x 11.72x 12.90x -
EBITDA 1'214.50 Long-Term Rating Date -
EBIT 905.90 Long-Term Rating -
Operating Margin 19.49% Long-Term Outlook -
Pretax Margin 19.63% Short-Term Rating Date -
Return on Assets 10.88% Short-Term Rating -
Return on Common Equity 21.31%
Return on Capital 16.89% EBITDA/Interest Exp. 31.79
Asset Turnover 0.68% (EBITDA-Capex)/Interest Exp. 27.88
Net Debt/EBITDA -0.31
Gross Margin 86.1% Total Debt/EBITDA 0.88
EBITDA Margin 26.8%
EBIT Margin 20.1% Total Debt/Equity 28.9%
Net Income Margin 16.0% Total Debt/Capital 22.4%
Asset Turnover 0.68
Current Ratio 1.95 Net Fixed Asset Turnover 4.92
Quick Ratio 1.40 Accounts receivable turnover-days 65.72
Debt to Assets 15.03% Inventory Days 220.31
Tot Debt to Common Equity 28.88% Accounts Payable Turnover Day -
Accounts Receivable Turnover 5.57 Cash Conversion Cycle 117.50
Inventory Turnover 1.66
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
Shire PLCPrice/Volume
Valuation Analysis
208'961.00
Current Price (3/dd/yy) Market Data
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1'800.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 54'260'621 9.74 20'903'890 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 34'275'474 6.15 (656'470) 31.12.2012 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 22'275'321 4 - 23.02.2012 Unclassified
CAPITAL GROUP INTERN n/a RNS-MAJ 9'789'761 1.76 - 19.01.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 8'949'847 1.61 694'811 31.12.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 6'007'724 1.08 251'205 31.12.2012 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 4'573'355 0.82 881'675 28.02.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 4'551'120 0.82 2'001'575 30.11.2012 Unclassified
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 2'825'300 0.51 394'229 31.12.2012 Investment Advisor
ROYAL LONDON ASSET M Multiple Portfolios MF-AGG 2'345'173 0.42 1'623 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 2'185'502 0.39 846'879 31.12.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 1'992'292 0.36 (486'895) 21.03.2013 Investment Advisor
SEB n/a ULT-AGG 1'944'312 0.35 349'830 31.01.2013 Unclassified
ALLIANCE BERNSTEIN n/a ULT-AGG 1'742'483 0.31 (48'877) 31.01.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 1'551'340 0.28 (85'801) 30.11.2012 Bank
BARING FUND MANAGERS Multiple Portfolios MF-AGG 1'521'756 0.27 151'717 30.11.2012 Investment Advisor
F&C FUND MANAGEMENT Multiple Portfolios MF-AGG 1'476'159 0.27 78'291 31.01.2013 Mutual Fund Manager
BNP PARIBAS INV PART n/a ULT-AGG 1'386'184 0.25 (121'776) 31.01.2013 Investment Advisor
PRINCIPAL FINANCIAL n/a ULT-AGG 1'310'393 0.24 49'072 28.02.2013 Investment Advisor
PRUDENTIAL FINANCIAL n/a ULT-AGG 965'389 0.17 92'063 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Bryan Garnier & Cie MARTIAL DESCOUTURES buy 5 M 2'250 6 month 26.03.2013
Jefferies PETER WELFORD buy 5 M 2'400 12 month 21.03.2013
Exane BNP Paribas NICOLAS GUYON-GELLIN outperform 5 M 2'400 Not Provided 21.03.2013
AlphaValue KAMLA SINGH add 4 M 2'303 6 month 21.03.2013
Credit Suisse KERRY HOLFORD outperform 5 M 2'350 Not Provided 11.03.2013
Berenberg Bank ADRIAN HOWD hold 3 D 2'250 Not Provided 08.03.2013
Shore Capital Stockbrokers BRIAN WHITE buy 5 M #N/A N/A Not Provided 01.03.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 U #N/A N/A Not Provided 01.03.2013
Nomura JAMES CRITCHLEY neutral 3 N 2'160 12 month 28.02.2013
Morgan Stanley PETER VERDULT Overwt/Attractive 5 M 2'400 12 month 21.02.2013
JPMorgan JAMES D GORDON overweight 5 M 2'340 9 month 19.02.2013
Societe Generale STEPHEN MCGARRY buy 5 M 2'397 12 month 15.02.2013
Deutsche Bank MARK CLARK buy 5 M 2'325 12 month 15.02.2013
S&P Capital IQ JACOB THRANE buy 5 M 2'300 12 month 15.02.2013
Panmure Gordon & Co Limited SAVVAS NEOPHYTOU hold 3 M 2'150 Not Provided 15.02.2013
Barclays BRIAN BOURDOT overweight 5 M 2'350 Not Provided 15.02.2013
Goldman Sachs KEYUR PAREKH Buy/Neutral 5 M 2'675 12 month 28.01.2013
Day by Day VALERIE GASTALDY buy 5 M 2'273 3 month 24.01.2013
Redburn Partners TEAM COVERAGE neutral 3 M #N/A N/A Not Provided 26.11.2012
Cenkos Securities Ltd NAVID MALIK buy 5 M 2'343 Not Provided 26.06.2012
Holdings By:
Shire PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
CRH plc manufactures cement, concrete products, aggregates, asphalt, clay
bricks, chemical lime, security fencing products, and roofing, insulation and
other building materials. The Group also operates some 136 builders merchant
locations and 54 DIY stores. CRH, via its subsidiaries, operates in some 19
countries, including Ireland, the US, Spain, Germany and the Netherlands.
Latest Fiscal Year: 12/2011
LTM as of: 12/yy
52-Week High (15.03.2013) 1'554.00
52-Week Low (01.06.2012) 1'052.00
Daily Volume
1432
52-Week High % Change -7.92% Dividend Yield 3.69
52-Week Low % Change 36.03% Beta 1.45
% 52 Week Price Range High/Low 80.28% Equity Float 683.33
Shares Out 21.03.2013 727.1 Short Int -
10'412.36 1 Yr Total Return 13.12%
Total Debt 4'915.00 YTD Return 17.67%
Preferred Stock 1.0 Adjusted BETA 1.447
Minority Interest 36.0 Analyst Recs 32
Cash and Equivalents 1'799.00 Consensus Rating 2.531
Enterprise Value 15'469.01
Average Volume 5 Day 2'283'823
CRH LN EQUITY YTD Change - Average Volume 30 Day 2'524'278
CRH LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'172'856
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
20'887.0 17'373.0 17'173.0 18'081.0 18'659.0 - - 19'073.4 20'125.6 - -
0.78x 1.01x 0.86x 0.82x 0.76x - - 0.80x 0.75x - -
2'656.0 1'803.0 1'614.0 1'656.0 1'640.0 - - 1'724.8 1'974.8 - -
6.11x 9.69x 9.18x 9.01x 8.70x - - 8.97x 7.84x - -
1'248.0 592.0 432.0 590.0 552.0 - - 601.1 791.3 - -
7.66x 21.54x 25.28x 18.60x 20.01x - - 20.03x 15.54x - -
EBITDA 1'640.00 Long-Term Rating Date 17.12.2007
EBIT 845.00 Long-Term Rating BBB+
Operating Margin 4.53% Long-Term Outlook STABLE
Pretax Margin 3.61% Short-Term Rating Date 07.09.2001
Return on Assets 2.59% Short-Term Rating A-2
Return on Common Equity 5.25%
Return on Capital 5.03% EBITDA/Interest Exp. 5.92
Asset Turnover 0.88% (EBITDA-Capex)/Interest Exp. 3.84
Net Debt/EBITDA 1.90
Gross Margin 27.3% Total Debt/EBITDA 3.00
EBITDA Margin 8.8%
EBIT Margin 4.5% Total Debt/Equity 46.6%
Net Income Margin 3.0% Total Debt/Capital 31.7%
Asset Turnover 0.88
Current Ratio 1.84 Net Fixed Asset Turnover 2.15
Quick Ratio 1.15 Accounts receivable turnover-days 46.46
Debt to Assets 23.22% Inventory Days 63.19
Tot Debt to Common Equity 46.65% Accounts Payable Turnover Day 59.16
Accounts Receivable Turnover 7.88 Cash Conversion Cycle 50.49
Inventory Turnover 5.79
Fiscal Year Ended
CRH PLCPrice/Volume
Valuation Analysis
483'151.00
Current Price (3/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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1'500.0
2'000.0
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3'000.0
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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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES n/a ULT-AGG 46'828'488 6.44 (10'758'929) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 28'961'677 3.98 - 25.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 27'093'488 3.73 (7'581'034) 21.01.2013 Investment Advisor
UBS n/a ULT-AGG 26'645'973 3.66 (214'912) 31.01.2013 Unclassified
HARBOR CAPITAL ADVIS n/a 20F 21'999'275 3.03 - 23.03.2012 Investment Advisor
NORGES BANK n/a 20F 21'543'277 2.96 - 23.03.2012 Government
GRWTH FUND OF AMERIC n/a RNS-MAJ 21'114'087 2.9 - 15.02.2011 n/a
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 11'276'498 1.55 1'580'407 30.09.2012 Hedge Fund Manager
BNP PARIBAS INV PART n/a ULT-AGG 8'149'481 1.12 (1'337'651) 31.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 7'954'808 1.09 318'307 31.12.2012 Investment Advisor
MANNING & NAPIER ADV Multiple Portfolios MF-AGG 7'703'980 1.06 3'376'460 31.12.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 5'345'457 0.74 2'283'455 30.11.2012 Unclassified
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 4'922'840 0.68 (13'040) 31.12.2012 Investment Advisor
MARKETFIELD ASSET MA Multiple Portfolios MF-AGG 4'196'785 0.58 2'571'785 31.12.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 3'186'312 0.44 - 21.03.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 2'802'622 0.39 92'614 31.12.2012 Investment Advisor
MACKAY SHIELDS LLC Multiple Portfolios MF-AGG 2'762'000 0.38 342'000 30.11.2012 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 2'746'054 0.38 850'506 31.12.2012 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 2'586'810 0.36 3'567 28.02.2013 Unclassified
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 2'522'762 0.35 (874) 31.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Landesbank Baden-Wuerttemberg HANS-PETER KUHLMANN sell 1 D 1'362 Not Provided 21.03.2013
Oddo & Cie VIRGINIE ROUSSEAU reduce 2 M 1'353 Not Provided 21.03.2013
AlphaValue GAETAN DUPONT add 4 M 1'626 6 month 21.03.2013
EVA Dimensions CRAIG STERLING sell 1 D #N/A N/A Not Provided 21.03.2013
Sanford C. Bernstein & Co PHIL ROSEBERG market perform 3 M 1'450 12 month 18.03.2013
Raymond James ARNAUD PALLIEZ market perform 3 M #N/A N/A Not Provided 15.03.2013
Goldman Sachs WILL MORGAN neutral/neutral 3 M 1'478 12 month 08.03.2013
Credit Suisse HARRY GOAD underperform 1 M 1'133 Not Provided 07.03.2013
Goodbody Stockbrokers Ltd ROBERT EASON sell 1 M 1'297 12 month 06.03.2013
Deutsche Bank LUIS PRIETO buy 5 M 1'600 12 month 01.03.2013
JPMorgan MICHAEL MORRIS neutral 3 M 1'215 9 month 28.02.2013
Natixis ABDELKADER BENCHIHA neutral 3 U 1'465 Not Provided 28.02.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 28.02.2013
Societe Generale MURIEL FELLOUS hold 3 M 1'380 12 month 27.02.2013
Independent Research GmbH CHRISTOPH SCHOENDUBE hold 3 M 1'558 12 month 27.02.2013
Berenberg Bank ROBERT MUIR sell 1 M 1'212 Not Provided 27.02.2013
Jefferies MICHAEL F BETTS buy 5 M 1'724 12 month 26.02.2013
Bryan Garnier & Cie SVEN EDELFELT neutral 3 M 1'293 6 month 26.02.2013
S&P Capital IQ JAWAHAR HINGORANI hold 3 M 1'465 12 month 26.02.2013
Exane BNP Paribas PAUL ROGER neutral 3 M 1'552 Not Provided 26.02.2013
Numis Securities Ltd HOWARD SEYMOUR reduce 2 M 1'000 Not Provided 25.02.2013
Merrion Stockbrokers DAVID HOLOHAN sell 1 N 1'210 Not Provided 22.02.2013
Kepler Capital Markets JOSEP PUJAL hold 3 M 1'376 Not Provided 04.02.2013
HSBC JOHN FRASER-ANDREWS underweight 1 D 1'283 Not Provided 29.01.2013
Morgan Stanley YURI SEROV Underwt/In-Line 1 M 1'258 12 month 13.12.2012
Liberum Capital Ltd CHARLIE CAMPBELL hold 3 M 1'150 Not Provided 09.11.2012
Redburn Partners WILLIAM JONES neutral 3 M #N/A N/A Not Provided 07.11.2012
Davy BARRY DIXON outperform 5 M #N/A N/A Not Provided 19.10.2012
Nord/LB HEINO HAMMANN hold 3 M #N/A N/A Not Provided 14.06.2012
Holdings By:
CRH PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Legal & General Group plc is a holding company. The Company, through its
subsidiaries, provides savings, risk and investment management services such as
annuities, long-term savings, life assurance and financial protection products.
Legal & General Group's products are sold through bank, building society
relationships, Independent Financial Advisers and directly to customers.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (15.03.2013) 175.40
52-Week Low (01.06.2012) 105.30
Daily Volume
170.1
52-Week High % Change -3.08% Dividend Yield 4.50
52-Week Low % Change 61.44% Beta 1.37
% 52 Week Price Range High/Low 93.01% Equity Float 5'906.56
Shares Out 01.03.2013 5'913.0 Short Int -
10'057.94 1 Yr Total Return 33.56%
Total Debt 3'365.00 YTD Return 16.76%
Preferred Stock 0.0 Adjusted BETA 1.369
Minority Interest 39.0 Analyst Recs 27
Cash and Equivalents 16'652.00 Consensus Rating 3.519
Enterprise Value -
Average Volume 5 Day 12'036'370
LGEN LN EQUITY YTD Change - Average Volume 30 Day 13'479'500
LGEN LN EQUITY YTD % CHANGE - Average Volume 3 Month 11'780'630
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/12 Q1 06/12 Q2
(31'644.0) 43'790.0 38'440.0 18'317.0 34'976.0 6'150.5 5'980.9 29'766.0 33'116.0 436.5 -
- - - - - 5.49x 4.75x 0.31x 0.27x - -
- - - - - 656.3 570.7 - - - -
- - - - - 11.27x 12.10x - - - -
(1'067.0) 863.0 820.0 726.0 813.0 385.7 333.4 877.7 905.4 - -
- 2.72x 6.88x 8.25x 10.48x 22.88x 25.19x 11.57x 10.83x - -
EBITDA - Long-Term Rating Date 09.02.2010
EBIT - Long-Term Rating A
Operating Margin 3.43% Long-Term Outlook STABLE
Pretax Margin 2.96% Short-Term Rating Date 25.02.2009
Return on Assets 0.24% Short-Term Rating A-1
Return on Common Equity 15.28%
Return on Capital 10.70% EBITDA/Interest Exp. -
Asset Turnover 0.10% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 61.8%
Net Income Margin 2.3% Total Debt/Capital 38.0%
Asset Turnover 0.10
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 0.97% Inventory Days -
Tot Debt to Common Equity 61.85% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Legal & General Group PLCPrice/Volume
Valuation Analysis
4'052'013.00
Current Price (3/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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2'000.0
3'000.0
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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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
AXA n/a ULT-AGG 407'420'137 6.89 (2'209'633) 03.12.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios REG 386'066'239 6.53 (10'233'954) 03.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 334'301'816 5.65 101'373'791 31.01.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 291'921'424 4.94 (1'707'207) 25.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 290'344'506 4.91 - 31.12.2012 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 238'287'407 4.03 11'184'585 03.12.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 213'441'502 3.61 277'675 31.12.2012 Investment Advisor
SWISS REINSURANCE Multiple Portfolios REG 169'171'985 2.86 418'703 03.12.2012 Insurance Company
STANDARD LIFE INVEST Multiple Portfolios REG 162'792'629 2.75 13'696'488 03.12.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 146'965'053 2.49 46'947'806 03.12.2012 Unclassified
THREADNEEDLE INVESTM Multiple Portfolios MF-AGG 116'326'902 1.97 21'328 31.12.2012 Investment Advisor
ARTEMIS INVESTMENT M Multiple Portfolios REG 114'033'951 1.93 21'870'538 03.12.2012 Investment Advisor
AVIVA INVESTORS Multiple Portfolios REG 112'000'485 1.89 (16'190'706) 03.12.2012 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 101'018'107 1.71 6'951'655 03.12.2012 Government
ARTEMIS INVESTMENT M Multiple Portfolios MF-AGG 93'648'888 1.58 37'648'888 31.12.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 81'906'572 1.39 - 03.12.2012 Government
LEGAL & GENERAL GROU Multiple Portfolios REG 72'641'394 1.23 (2'070'035) 03.12.2012 Unclassified
F&C ASSET MANAGEMENT Multiple Portfolios REG 70'631'364 1.19 403'808 03.12.2012 Investment Advisor
JUPITER ASSET MANAGE Multiple Portfolios REG 65'293'473 1.1 1'547'523 03.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 64'344'533 1.09 2'300'121 03.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Barclays ALAN DEVLIN overweight 5 M 181 Not Provided 27.03.2013
Sanford C. Bernstein & Co EDWARD HOUGHTON market perform 3 M 175 12 month 26.03.2013
Oriel Securities Ltd MARCUS BARNARD buy 5 M 165 Not Provided 26.03.2013
Credit Suisse CHRIS ESSON neutral 3 M 175 Not Provided 25.03.2013
Exane BNP Paribas ANDY HUGHES underperform 1 M 116 Not Provided 18.03.2013
Berenberg Bank MATTHEW PRESTON buy 5 M 200 Not Provided 15.03.2013
HSBC KAILESH MISTRY overweight 5 M 195 Not Provided 07.03.2013
Keefe, Bruyette & Woods GREIG N PATERSON underperform 1 M 110 12 month 06.03.2013
Nomura FAHAD CHANGAZI buy 5 M 185 12 month 06.03.2013
S&P Capital IQ RODERICK WALLACE hold 3 M 155 12 month 06.03.2013
Panmure Gordon & Co Limited BARRIE CORNES buy 5 M 190 Not Provided 06.03.2013
JPMorgan ASHIK MUSADDI neutral 3 M 144 9 month 25.02.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 21.02.2013
RBC Capital Markets GORDON AITKEN sector perform 3 M 150 12 month 20.02.2013
Deutsche Bank OLIVER STEEL buy 5 M 170 12 month 24.01.2013
Macquarie NEIL WELCH outperform 5 M 175 12 month 23.01.2013
Goldman Sachs COLIN L SIMPSON neutral/neutral 3 M 165 12 month 18.01.2013
EVA Dimensions AUSTIN BURKETT hold 3 M #N/A N/A Not Provided 17.01.2013
Investec KEVIN RYAN hold 3 D 153 12 month 07.01.2013
Societe Generale ABID HUSSAIN hold 3 M 144 12 month 11.12.2012
Redburn Partners LANCE BURBIDGE neutral 3 M #N/A N/A Not Provided 10.12.2012
Morgan Stanley JON HOCKING Equalwt/In-Line 3 M 157 12 month 05.12.2012
Canaccord Genuity Corp BEN COHEN hold 3 M 150 12 month 26.11.2012
Shore Capital Stockbrokers EAMONN FLANAGAN buy 5 M #N/A N/A Not Provided 08.11.2012
Daiwa Securities Co. Ltd. TIM PROUDLOVE outperform 5 M 137 6 month 01.07.2011
Holdings By:
Legal & General Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Old Mutual PLC is an international long-term savings, protection and investment
Group. The Company provides life assurance, asset management, banking and
general insurance to customers in Africa, the Americas, Asia and Europe.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (06.03.2013) 213.80
52-Week Low (06.06.2012) 136.60
Daily Volume
200.9
52-Week High % Change -6.22% Dividend Yield 3.49
52-Week Low % Change 46.78% Beta 1.17
% 52 Week Price Range High/Low 87.69% Equity Float 4'097.04
Shares Out 05.03.2013 4'893.3 Short Int -
9'830.73 1 Yr Total Return 28.52%
Total Debt 3'050.00 YTD Return 12.51%
Preferred Stock 273.0 Adjusted BETA 1.170
Minority Interest 1'692.0 Analyst Recs 21
Cash and Equivalents 3'863.00 Consensus Rating 3.429
Enterprise Value 10'982.73
Average Volume 5 Day 8'900'455
OML LN EQUITY YTD Change - Average Volume 30 Day 9'774'593
OML LN EQUITY YTD % CHANGE - Average Volume 3 Month 7'993'184
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 09/11 Q3 12/11 Q4
(2'414.0) 18'013.0 17'356.0 7'689.0 17'906.0 46'128.3 94'235.2 - - 353.0 -
- 0.50x 0.55x 1.33x 0.55x 2.31x 2.27x - - - -
- - - - - 2'566.7 4'672.2 - - - -
- - - - - 9.39x 12.27x - - - -
495.0 (275.0) (220.0) 729.0 1'173.0 1'275.8 1'334.2 1'017.4 1'123.2 - -
5.93x - 13.41x 14.26x 14.62x 16.80x 22.22x 10.00x 9.13x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin 9.16% Long-Term Outlook -
Pretax Margin 7.79% Short-Term Rating Date -
Return on Assets 0.77% Short-Term Rating -
Return on Common Equity 13.76%
Return on Capital 11.90% 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 38.9%
Net Income Margin 6.6% Total Debt/Capital 23.7%
Asset Turnover 0.12
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 2.13% Inventory Days -
Tot Debt to Common Equity 38.94% 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
Old Mutual PLCPrice/Volume
Valuation Analysis
1'737'517.00
Current Price (3/dd/yy) Market Data
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10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
70'000.0
80'000.0
90'000.0
100'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CEVIAN CAPITAL Multiple Portfolios REG 410'748'581 8.39 - 03.12.2012 Other
SANLAM ASSET MANAGEM Multiple Portfolios REG 305'691'719 6.25 - 03.12.2012 Investment Advisor
PUBLIC INVESTMENT CO n/a Co File 268'811'081 5.49 - 08.03.2012 Government
BLACKROCK n/a ULT-AGG 241'406'155 4.93 - 25.03.2013 Investment Advisor
OLD MUTUAL n/a ULT-AGG 240'737'104 4.92 (5'438'689) 31.12.2012 Unclassified
LEGAL & GENERAL n/a ULT-AGG 185'451'357 3.79 11'251'775 03.12.2012 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 78'294'908 1.6 27'971'120 03.12.2012 Unclassified
SCHRODER INVESTMENT Multiple Portfolios REG 75'182'544 1.54 (3'111'564) 03.12.2012 Investment Advisor
ALLAN GRAY UNIT TRUS Multiple Portfolios MF-AGG 67'791'621 1.39 123'856 31.12.2012 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 56'099'783 1.15 - 03.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 52'184'053 1.07 2'583'390 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 52'018'689 1.06 2'178'786 03.12.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 47'821'797 0.98 609'391 31.10.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 44'880'947 0.92 - 03.12.2012 Government
DIMENSIONAL FUND ADV Multiple Portfolios REG 39'313'687 0.8 (637'028) 03.12.2012 Investment Advisor
APG ALGEMENE PENSIOE Multiple Portfolios REG 37'242'823 0.76 (4'748'190) 03.12.2012 Pension Fund (ERISA)
STATE STREET n/a ULT-AGG 36'962'867 0.76 3'223'074 26.03.2013 Investment Advisor
COLLINS STEWART LTD Multiple Portfolios REG 35'758'032 0.73 (686'845) 03.12.2012 Investment Advisor
SANLAM COLLECTIVE IN Multiple Portfolios MF-AGG 34'541'968 0.71 (1'935'953) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 34'351'633 0.7 11'966'269 31.01.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
AlphaValue JEROME CASSAGNE reduce 2 M 206 6 month 21.03.2013
Oriel Securities Ltd MARCUS BARNARD buy 5 M 230 Not Provided 19.03.2013
Day by Day VALERIE GASTALDY buy 5 M 244 3 month 18.03.2013
Imara TONDERAI MANESWA buy 5 M #N/A N/A Not Provided 12.03.2013
Goldman Sachs COLIN L SIMPSON Buy/Neutral 5 M 226 12 month 05.03.2013
Deutsche Bank LARISSA VAN-DEVENTER buy 5 M 230 12 month 04.03.2013
Investec MARK SALMON hold 3 U 221 Not Provided 04.03.2013
S&P Capital IQ RODERICK WALLACE sell 1 D 185 12 month 04.03.2013
Credit Suisse BRIAN MUSHONGA underperform 1 M 161 Not Provided 01.03.2013
Keefe, Bruyette & Woods GREIG N PATERSON underperform 1 M 133 12 month 01.03.2013
Sanford C. Bernstein & Co EDWARD HOUGHTON market perform 3 M 175 12 month 01.03.2013
Nedgroup Securities DAVID S DANILOWITZ not rated #N/A N/A M 206 12 month 01.03.2013
SBG Securities RISTO KETOLA buy 5 M 260 12 month 27.02.2013
Barclays ALAN DEVLIN equalweight 3 M 183 Not Provided 25.02.2013
JPMorgan FRANCOIS DU TOIT neutral 3 D 209 9 month 21.02.2013
Avior Research HARRY BOTHA outperform 5 M 225 Not Provided 21.02.2013
RBC Capital Markets GORDON AITKEN sector perform 3 M 190 12 month 20.02.2013
EVA Dimensions AUSTIN BURKETT sell 1 M #N/A N/A Not Provided 17.01.2013
Morgan Stanley JON HOCKING Equalwt/In-Line 3 M 171 12 month 05.12.2012
Nomura BEN BATHURST buy 5 M 202 Not Provided 11.07.2012
Shore Capital Stockbrokers EAMONN FLANAGAN hold 3 M #N/A N/A Not Provided 31.10.2011
Holdings By:
Old Mutual PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Pearson plc is an international media and education company with its principal
operations in the education, business information and consumer publishing
markets. The Company creates and manages intellectual property to inform,
educate and entertain. The Company's content is delivered through books books,
newspapers and online services.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (26.07.2012) 1'302.00
52-Week Low (20.04.2012) 1'105.00
Daily Volume
1156
52-Week High % Change -11.14% Dividend Yield 3.89
52-Week Low % Change 4.71% Beta 0.75
% 52 Week Price Range High/Low 36.04% Equity Float 789.10
Shares Out 01.03.2013 817.5 Short Int -
9'449.93 1 Yr Total Return -1.13%
Total Debt 2'272.00 YTD Return -2.61%
Preferred Stock 0.0 Adjusted BETA 0.748
Minority Interest 24.0 Analyst Recs 27
Cash and Equivalents 1'068.00 Consensus Rating 3.222
Enterprise Value 10'677.93
Average Volume 5 Day 2'691'054
PSON LN EQUITY YTD Change - Average Volume 30 Day 2'711'657
PSON LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'440'488
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
4'811.0 5'140.0 5'663.0 4'817.0 5'059.0 - - 6'215.9 6'166.1 - -
1.45x 1.66x 1.53x 2.16x 2.14x - - 1.62x 1.59x - -
847.0 821.0 948.0 942.0 956.0 - - 1'045.2 1'134.9 - -
8.21x 10.39x 9.16x 11.02x 11.31x - - 10.22x 9.41x - -
292.0 425.0 1'297.0 957.0 326.0 - - 644.9 725.4 - -
13.38x 18.96x 15.27x 10.93x 33.75x - - 14.22x 12.69x - -
EBITDA 956.00 Long-Term Rating Date 25.11.1998
EBIT 639.00 Long-Term Rating BBB+
Operating Margin 12.63% Long-Term Outlook STABLE
Pretax Margin 8.58% Short-Term Rating Date 25.11.1998
Return on Assets 2.89% Short-Term Rating A-2
Return on Common Equity 5.61%
Return on Capital 5.04% EBITDA/Interest Exp. 8.46
Asset Turnover 0.45% (EBITDA-Capex)/Interest Exp. 7.77
Net Debt/EBITDA 1.26
Gross Margin 56.0% Total Debt/EBITDA 2.38
EBITDA Margin 18.9%
EBIT Margin 12.6% Total Debt/Equity 40.0%
Net Income Margin 6.4% Total Debt/Capital 28.5%
Asset Turnover 0.45
Current Ratio 1.74 Net Fixed Asset Turnover 14.25
Quick Ratio 0.43 Accounts receivable turnover-days -
Debt to Assets 20.02% Inventory Days 54.97
Tot Debt to Common Equity 39.96% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 6.66
Fiscal Year Ended
Pearson PLCPrice/Volume
Valuation Analysis
554'329.00
Current Price (3/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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400.0
600.0
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1'200.0
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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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FMR LLC n/a ULT-AGG 40'551'847 4.96 (5'822'202) 01.02.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 38'923'069 4.76 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 32'385'175 3.96 - 31.12.2011 Unclassified
LIBYAN INVESTMENT AU Multiple Portfolios REG 26'572'179 3.25 - 01.02.2013 Other
THORNBURG INVESTMENT Multiple Portfolios REG 23'375'817 2.86 (161'535) 01.02.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 22'522'305 2.76 (3'877'187) 01.02.2013 Investment Advisor
Northern Cross Inter Multiple Portfolios REG 19'312'999 2.36 (37'762) 01.02.2013 Unclassified
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 19'130'761 2.34 4'434'586 31.12.2012 Investment Advisor
ABERDEEN n/a ULT-AGG 17'884'414 2.19 2'437'466 28.02.2013 Unclassified
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 16'108'031 1.97 - 31.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 14'432'921 1.77 - 01.02.2013 Government
THREADNEEDLE ASSET M Multiple Portfolios REG 14'169'408 1.73 (214'765) 01.02.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 13'749'673 1.68 4'631'557 01.02.2013 Unclassified
MACKENZIE FINANCIAL Multiple Portfolios MF-AGG 12'289'596 1.5 (125'700) 31.12.2012 Investment Advisor
MACKENZIE FINANCIAL Multiple Portfolios REG 11'719'600 1.43 (132'300) 01.02.2013 Investment Advisor
SARASIN n/a ULT-AGG 11'542'527 1.41 (273'440) 01.02.2013 Unclassified
LINDSELL TRAIN INVES Multiple Portfolios REG 11'409'427 1.4 664'500 01.02.2013 Unclassified
DWS INVESTMENT SA Multiple Portfolios REG 11'369'381 1.39 423'149 01.02.2013 Unclassified
UBS n/a ULT-AGG 11'061'943 1.35 (505'566) 01.02.2013 Unclassified
FRANKLIN RESOURCES n/a ULT-AGG 10'827'974 1.32 (57'000) 01.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Berenberg Bank SARAH SIMON hold 3 M 1'200 Not Provided 26.03.2013
EVA Dimensions CRAIG STERLING sell 1 D #N/A N/A Not Provided 14.03.2013
Sanford C. Bernstein & Co CLAUDIO ASPESI outperform 5 M 1'400 12 month 12.03.2013
Exane BNP Paribas SAMI KASSAB outperform 5 M 1'400 Not Provided 08.03.2013
HSBC DAN GRAHAM underweight 1 M 1'000 Not Provided 07.03.2013
AlphaValue VERONIQUE CABIOC'H add 4 M 1'385 6 month 07.03.2013
Numis Securities Ltd GARETH R DAVIES hold 3 M 1'192 Not Provided 28.02.2013
Societe Generale CHRISTOPHE CHERBLANC sell 1 M 1'040 12 month 26.02.2013
Deutsche Bank MARK BRALEY hold 3 M 1'225 12 month 26.02.2013
Investec STEVEN LIECHTI hold 3 M 1'150 12 month 26.02.2013
Macquarie TIMOTHY W NOLLEN neutral 3 M 1'100 12 month 26.02.2013
Natixis PAVEL GOVCIYAN buy 5 M 1'420 Not Provided 26.02.2013
Nomura MATTHEW WALKER reduce 2 M 1'195 Not Provided 26.02.2013
S&P Capital IQ ALEXANDER WISCH hold 3 M 1'300 12 month 26.02.2013
Barclays NICK DEMPSEY equalweight 3 M 1'175 Not Provided 26.02.2013
Morgan Stanley PATRICK WELLINGTON Underwt/Attractive 1 M 1'140 12 month 25.02.2013
Goldman Sachs VIGHNESH PADIACHY Buy/Neutral 5 M 1'370 12 month 25.02.2013
Espirito Santo Investment Bank ResearchGIASONE SALATI buy 5 M 1'570 Not Provided 25.02.2013
Liberum Capital Ltd IAN WHITTAKER sell 1 M 1'050 Not Provided 21.02.2013
Jefferies DAVID REYNOLDS hold 3 M 1'290 12 month 22.01.2013
Credit Suisse JOSEPH BARNET-LAMB outperform 5 M 1'210 Not Provided 21.01.2013
Panmure Gordon & Co Limited ALEX DE GROOTE hold 3 M 1'125 Not Provided 31.10.2012
JPMorgan MARK O'DONNELL overweight 5 M 1'490 9 month 29.10.2012
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 07.08.2012
CA Cheuvreux NIKLAS KRISTOFFERSSONN underperform 1 M 1'150 Not Provided 28.02.2012
Holdings By:
Pearson PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Reed Elsevier PLC is a holding company. The Company is a publisher and
information provider. Reed Elsevier, through its subsidiaries, publishes
information for the scientific and medical professions, legal, and business to
business sector.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (27.03.2013) 790.50
52-Week Low (01.06.2012) 466.10
Daily Volume
775.5
52-Week High % Change -2.02% Dividend Yield 2.97
52-Week Low % Change 66.17% Beta 0.90
% 52 Week Price Range High/Low 99.68% Equity Float 1'192.47
Shares Out 26.03.2013 1'192.9 Short Int -
9'250.84 1 Yr Total Return 43.99%
Total Debt 3'892.00 YTD Return 20.64%
Preferred Stock 0.0 Adjusted BETA 0.904
Minority Interest 1'108.0 Analyst Recs 29
Cash and Equivalents 641.00 Consensus Rating 3.828
Enterprise Value 13'609.84
Average Volume 5 Day 3'243'235
REL LN EQUITY YTD Change - Average Volume 30 Day 3'659'088
REL LN EQUITY YTD % CHANGE - Average Volume 3 Month 3'290'474
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
5'334.0 6'071.0 6'055.0 6'002.0 6'116.0 - - 6'120.6 6'365.0 - -
2.20x 1.80x 1.77x 1.81x 1.96x - - 2.12x 1.94x - -
1'337.0 1'528.0 1'650.0 1'737.0 1'889.0 - - 1'938.8 2'055.8 - -
8.76x 7.16x 6.51x 6.24x 6.34x - - 7.02x 6.62x - -
241.0 195.0 327.0 389.0 552.0 - - 1'187.3 1'273.1 - -
24.70x 29.68x 19.86x 16.04x 13.96x - - 14.66x 13.58x - -
EBITDA 1'889.00 Long-Term Rating Date 12.12.2008
EBIT 1'334.00 Long-Term Rating BBB+
Operating Margin 21.81% Long-Term Outlook STABLE
Pretax Margin 19.41% Short-Term Rating Date 12.07.2001
Return on Assets 4.90% Short-Term Rating A-2
Return on Common Equity 46.88%
Return on Capital 20.24% EBITDA/Interest Exp. 8.14
Asset Turnover 0.54% (EBITDA-Capex)/Interest Exp. 7.84
Net Debt/EBITDA 1.72
Gross Margin 65.0% Total Debt/EBITDA 2.06
EBITDA Margin 30.9%
EBIT Margin 21.8% Total Debt/Equity 322.7%
Net Income Margin 9.0% Total Debt/Capital 62.7%
Asset Turnover 0.54
Current Ratio 0.65 Net Fixed Asset Turnover 22.16
Quick Ratio 0.47 Accounts receivable turnover-days 74.89
Debt to Assets 35.34% Inventory Days 29.86
Tot Debt to Common Equity 322.72% Accounts Payable Turnover Day 207.92
Accounts Receivable Turnover 4.89 Cash Conversion Cycle -103.16
Inventory Turnover 12.26
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
Reed Elsevier PLCPrice/Volume
Valuation Analysis
1'181'691.00
Current Price (3/dd/yy) Market Data
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2'000.0
3'000.0
4'000.0
5'000.0
6'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES n/a ULT-AGG 200'840'551 16.84 (6'605'853) 07.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 91'969'406 7.71 20'665'621 31.01.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 63'278'995 5.3 (13'309'322) 01.01.2013 Unclassified
BLACKROCK n/a ULT-AGG 60'105'105 5.04 - 25.03.2013 Investment Advisor
SILCHESTER INTL INVE n/a 20F 47'677'807 4 - 07.03.2013 Investment Advisor
LLOYDS BANKING GROUP n/a ULT-AGG 47'667'406 4 4'261 07.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 46'602'367 3.91 - 07.03.2013 Investment Advisor
INVESCO LTD Multiple Portfolios REG 42'254'826 3.54 4'271'265 01.01.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 40'627'705 3.41 - 07.03.2013 Unclassified
ARTISAN PARTNERS HOL Multiple Portfolios REG 36'357'666 3.05 2'629'644 01.01.2013 Investment Advisor
NEWTON INV MGMT Multiple Portfolios REG 34'080'964 2.86 2'531'677 01.01.2013 Mutual Fund Manager
SCHRODER INVESTMENT Multiple Portfolios REG 30'756'657 2.58 2'212'191 01.01.2013 Investment Advisor
ARTEMIS INVESTMENT M Multiple Portfolios REG 29'906'301 2.51 4'146'817 01.01.2013 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 29'850'728 2.5 (3'679) 26.03.2013 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios MF-AGG 25'067'088 2.1 1'292'810 31.12.2012 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 24'449'279 2.05 (3'082'095) 01.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 23'946'229 2.01 - 01.01.2013 Government
UBS n/a ULT-AGG 23'539'529 1.97 (143'074) 31.01.2013 Unclassified
ARTEMIS INVESTMENT M Multiple Portfolios MF-AGG 22'365'700 1.87 (2'639'089) 31.12.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 21'709'286 1.82 275'863 21.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Berenberg Bank SARAH SIMON buy 5 U 800 Not Provided 26.03.2013
Liberum Capital Ltd IAN WHITTAKER buy 5 M 840 Not Provided 26.03.2013
Societe Generale CHRISTOPHE CHERBLANC buy 5 M 825 12 month 25.03.2013
HSBC DAN GRAHAM neutral 3 M 720 Not Provided 25.03.2013
AlphaValue VERONIQUE CABIOC'H reduce 2 M 735 6 month 21.03.2013
Goldman Sachs VIGHNESH PADIACHY neutral/neutral 3 M 800 12 month 20.03.2013
Sanford C. Bernstein & Co CLAUDIO ASPESI underperform 1 M 500 12 month 12.03.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 11.03.2013
CA Cheuvreux ANDREA BENEVENTI outperform 5 M 730 Not Provided 08.03.2013
JPMorgan MARK O'DONNELL overweight 5 M 795 9 month 06.03.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 04.03.2013
Investec STEVEN LIECHTI buy 5 M 800 12 month 01.03.2013
Macquarie TIMOTHY W NOLLEN underperform 1 M 625 12 month 01.03.2013
Nomura MATTHEW WALKER buy 5 M 810 Not Provided 01.03.2013
Numis Securities Ltd GARETH R DAVIES add 4 M 830 Not Provided 01.03.2013
Exane BNP Paribas SAMI KASSAB outperform 5 M 750 Not Provided 01.03.2013
Barclays NICK DEMPSEY overweight 5 M 810 Not Provided 01.03.2013
Deutsche Bank MARK BRALEY buy 5 M 790 12 month 28.02.2013
Morgan Stanley PATRICK WELLINGTON Overwt/Attractive 5 M 750 12 month 28.02.2013
Jefferies DAVID REYNOLDS buy 5 M 760 12 month 28.02.2013
Petercam KRIS KIPPERS buy 5 M 610 Not Provided 28.02.2013
S&P Capital IQ ALEXANDER WISCH hold 3 M 750 12 month 28.02.2013
Peel Hunt PATRICK YAU sell 1 M 556 Not Provided 23.01.2013
Credit Suisse JOSEPH BARNET-LAMB neutral 3 M 620 Not Provided 21.01.2013
Panmure Gordon & Co Limited ALEX DE GROOTE buy 5 M 650 Not Provided 11.12.2012
Espirito Santo Investment Bank ResearchGIASONE SALATI sell 1 M 390 Not Provided 12.10.2012
N+1 Singer Ltd JOHNATHAN BARRETT not rated #N/A N/A M #N/A N/A Not Provided 16.02.2012
Holdings By:
Reed Elsevier PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Aviva PLC is an international insurance company that provides all classes of
general and life assurance, including fire, motor, marine, aviation, and
transport insurance. The Company also supplies a variety of financial services,
including unit trusts, stockbroking, long-term savings, and fund management.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.12.2012) 390.40
52-Week Low (01.06.2012) 251.10
Daily Volume
295.9
52-Week High % Change -24.36% Dividend Yield 6.43
52-Week Low % Change 17.60% Beta 1.56
% 52 Week Price Range High/Low 37.76% Equity Float 2'943.80
Shares Out 28.02.2013 2'946.1 Short Int -
8'717.56 1 Yr Total Return -9.53%
Total Debt 8'194.00 YTD Return -18.57%
Preferred Stock 1'582.0 Adjusted BETA 1.557
Minority Interest 1'574.0 Analyst Recs 27
Cash and Equivalents 22'897.00 Consensus Rating 3.593
Enterprise Value -
Average Volume 5 Day 12'212'750
AV/ LN EQUITY YTD Change - Average Volume 30 Day 15'125'410
AV/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 12'347'110
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/12 Q1 06/12 Q2
20'484.0 59'434.0 50'197.0 35'561.0 43'536.0 2'766.9 3'133.6 43'014.0 42'380.5 - -
0.23x 0.09x 0.11x - - 15.30x 17.16x - - - -
- - - - - 619.5 727.3 - - - -
- - - - - 20.55x 18.91x - - - -
(915.0) 1'085.0 1'463.0 225.0 (3'218.0) 357.9 420.5 1'295.7 1'445.3 - -
- 10.51x 14.10x 11.69x - 35.75x 32.85x 6.76x 6.22x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating A-
Operating Margin 3.27% Long-Term Outlook STABLE
Pretax Margin 0.57% Short-Term Rating Date 21.03.2013
Return on Assets -1.02% Short-Term Rating A-2
Return on Common Equity -31.74%
Return on Capital -16.85% EBITDA/Interest Exp. -
Asset Turnover 0.14% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 99.9%
Net Income Margin -7.4% Total Debt/Capital 41.9%
Asset Turnover 0.14
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 2.60% Inventory Days -
Tot Debt to Common Equity 99.88% 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
Aviva PLCPrice/Volume
Valuation Analysis
6'006'055.00
Current Price (3/dd/yy) Market Data
!
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0.0
500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES n/a ULT-AGG 297'644'862 10.1 (3'781'712) 20.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 149'521'223 5.08 - 25.03.2013 Investment Advisor
AXA n/a ULT-AGG 121'609'159 4.13 (145'980) 20.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 110'128'385 3.74 - 20.03.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 85'425'908 2.9 18'716'026 01.02.2013 Unclassified
M&G INVESTMENT MANAG Multiple Portfolios REG 79'690'535 2.7 1'091'900 01.02.2013 Investment Advisor
AVIVA PLC SHARE ACCO Multiple Portfolios REG 65'593'903 2.23 180'879 01.02.2013 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 54'324'031 1.84 - 01.02.2013 Government
PEOPLES REPUBLIC OF Multiple Portfolios REG 43'197'280 1.47 11'118'500 01.02.2013 Government
THREADNEEDLE ASSET M Multiple Portfolios REG 41'989'681 1.43 6'232 01.02.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 38'160'440 1.3 2'236'701 31.12.2012 Investment Advisor
HARGREAVES LANSDOWN Multiple Portfolios REG 37'865'993 1.29 (236'469) 01.02.2013 Investment Advisor
MAJEDIE ASSET MANAGE Multiple Portfolios REG 34'882'960 1.18 (7'987'635) 01.02.2013 Investment Advisor
TD WATERHOUSE GROUP Multiple Portfolios REG 34'726'322 1.18 (2'368'648) 01.02.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 33'401'190 1.13 1'572'352 01.02.2013 Investment Advisor
APG ALGEMENE PENSIOE Multiple Portfolios REG 33'235'920 1.13 515'452 01.02.2013 Pension Fund (ERISA)
EDINBURGH PARTNERS L Multiple Portfolios REG 32'415'215 1.1 (4'029'494) 01.02.2013 Investment Advisor
UBS n/a ULT-AGG 32'343'612 1.1 (1'303'182) 01.02.2013 Unclassified
GLOBAL ASSET MANAGEM Multiple Portfolios REG 31'437'995 1.07 3'380'761 01.02.2013 Investment Advisor
BREWIN DOLPHIN LIMIT Multiple Portfolios REG 27'977'798 0.95 (125'831) 01.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 21.03.2013
AlphaValue JEROME CASSAGNE buy 5 U 390 6 month 21.03.2013
Keefe, Bruyette & Woods GREIG N PATERSON outperform 5 M 432 12 month 19.03.2013
Shore Capital Stockbrokers EAMONN FLANAGAN sell 1 D #N/A N/A Not Provided 18.03.2013
Canaccord Genuity Corp BEN COHEN hold 3 M 335 12 month 18.03.2013
Exane BNP Paribas ANDY HUGHES outperform 5 M 379 Not Provided 18.03.2013
Berenberg Bank MATTHEW PRESTON hold 3 D 350 Not Provided 15.03.2013
Sanford C. Bernstein & Co EDWARD HOUGHTON market perform 3 M 360 12 month 14.03.2013
Barclays ALAN DEVLIN underweight 1 M 289 Not Provided 12.03.2013
Credit Suisse CHRIS ESSON outperform 5 M 435 Not Provided 11.03.2013
Societe Generale ABID HUSSAIN hold 3 M 343 12 month 08.03.2013
HSBC KAILESH MISTRY neutral 3 M 360 Not Provided 08.03.2013
S&P Capital IQ RODERICK WALLACE hold 3 M 360 12 month 08.03.2013
Morgan Stanley JON HOCKING Overwt/In-Line 5 M 444 12 month 07.03.2013
JPMorgan ASHIK MUSADDI overweight 5 M 443 9 month 07.03.2013
Nomura FAHAD CHANGAZI buy 5 M 540 12 month 07.03.2013
Oriel Securities Ltd MARCUS BARNARD hold 3 M 400 Not Provided 07.03.2013
Panmure Gordon & Co Limited BARRIE CORNES hold 3 D 340 Not Provided 07.03.2013
RBC Capital Markets GORDON AITKEN sector perform 3 M 350 12 month 20.02.2013
Macquarie NEIL WELCH neutral 3 M 384 12 month 23.01.2013
Goldman Sachs COLIN L SIMPSON Buy/Neutral 5 M 416 12 month 18.01.2013
EVA Dimensions AUSTIN BURKETT sell 1 M #N/A N/A Not Provided 17.01.2013
Investec KEVIN RYAN buy 5 M 422 12 month 07.01.2013
Deutsche Bank OLIVER STEEL restricted #N/A N/A M #N/A N/A Not Provided 21.12.2012
Redburn Partners LANCE BURBIDGE neutral 3 D #N/A N/A Not Provided 22.11.2012
Daiwa Securities Co. Ltd. TIM PROUDLOVE outperform 5 M 508 6 month 01.07.2011
Espirito Santo Investment Bank ResearchJOY FERNEYHOUGH buy 5 M 605 Not Provided 31.05.2011
Holdings By:
Aviva PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Wolseley plc distributes bathroom materials, heating and plumbing supplies, and
systems and services. The Company's solutions include transaction processing,
electronic bill payment and presentment, business process outsourcing, document
distribution services, and software and systems solutions.
Latest Fiscal Year: 07/2012
LTM as of: 12/yy
52-Week High (20.03.2013) 3'354.00
52-Week Low (21.05.2012) 2'111.32
Daily Volume
3171
52-Week High % Change -5.66% Dividend Yield 1.96
52-Week Low % Change 49.86% Beta 1.32
% 52 Week Price Range High/Low 85.43% Equity Float 273.76
Shares Out 28.02.2013 274.0 Short Int 0.01
8'688.65 1 Yr Total Return 32.94%
Total Debt 840.00 YTD Return 9.10%
Preferred Stock 0.0 Adjusted BETA 1.322
Minority Interest 0.0 Analyst Recs 26
Cash and Equivalents 819.00 Consensus Rating 3.692
Enterprise Value 9'633.65
Average Volume 5 Day 1'139'824
WOS LN EQUITY YTD Change - Average Volume 30 Day 829'263
WOS LN EQUITY YTD % CHANGE - Average Volume 3 Month 795'317
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.07.2008 31.07.2009 31.07.2010 31.07.2011 31.07.2012 12/yy 12/yy 07/13 Y 07/14 Y 04/12 Q3 07/12 Q4
13'079.0 13'301.0 13'203.0 13'558.0 13'421.0 4'337.0 4'482.0 13'290.8 14'212.6 - 3'157.3
0.38x 0.36x 0.34x 0.42x 0.49x 10.46x 11.60x 0.68x 0.62x - -
1'152.0 1'140.0 840.0 863.0 476.0 1'345.0 1'410.0 852.7 993.1 - 235.0
4.35x 4.23x 5.36x 6.63x 13.90x 8.39x 9.51x 11.30x 9.70x - -
74.0 (1'173.0) (340.0) 271.0 57.0 472.0 611.0 498.9 608.0 - -
2.55x - - 18.26x 108.63x 14.87x 17.64x 17.54x 14.65x - -
EBITDA 476.00 Long-Term Rating Date -
EBIT 291.00 Long-Term Rating -
Operating Margin 2.17% Long-Term Outlook -
Pretax Margin 1.48% Short-Term Rating Date -
Return on Assets 0.23% Short-Term Rating -
Return on Common Equity 0.52%
Return on Capital 0.43% EBITDA/Interest Exp. 14.88
Asset Turnover 1.82% (EBITDA-Capex)/Interest Exp. 11.03
Net Debt/EBITDA 1.92
Gross Margin 27.5% Total Debt/EBITDA 2.55
EBITDA Margin 3.8%
EBIT Margin 2.1% Total Debt/Equity 26.8%
Net Income Margin 0.4% Total Debt/Capital 21.1%
Asset Turnover 1.82
Current Ratio 1.71 Net Fixed Asset Turnover 10.65
Quick Ratio 0.95 Accounts receivable turnover-days 51.93
Debt to Assets 11.76% Inventory Days 66.42
Tot Debt to Common Equity 26.81% Accounts Payable Turnover Day 76.07
Accounts Receivable Turnover 7.05 Cash Conversion Cycle 30.45
Inventory Turnover 5.51
Fiscal Year Ended
Wolseley PLCPrice/Volume
Valuation Analysis
245'795.00
Current Price (3/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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3 F
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500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
4'000.0
4'500.0
5'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK T ROWE PRICE ASSOCIA 13F 14'479'666 10.85 3'754'321 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 9'774'796 7.32 949'400 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 8'529'325 6.39 83'298 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 6'971'332 5.22 - 25.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 5'912'133 4.43 45'049 25.03.2013 Investment Advisor
LONGVIEW PARTNERS (G LONGVIEW PARTNERS (G 13F 5'449'211 4.08 202'131 31.12.2012 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 2'847'515 2.13 61'900 31.01.2013 Investment Advisor
INVESCO LTD INVESCO LTD 13F 2'619'234 1.96 (99'329) 31.12.2012 Investment Advisor
MERITAGE GROUP LP MERITAGE GROUP LP 13F 2'072'806 1.55 (407) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'900'334 1.42 (7'517) 31.12.2012 Investment Advisor
PITTENGER & ANDERSON PITTENGER & ANDERSON 13F 1'898'286 1.42 - 31.12.2012 Investment Advisor
DILLON DONALD F n/a Form 4 1'891'654 1.42 - 07.09.2012 n/a
FINDLAY PARK PARTNER FINDLAY PARK PARTNER 13F 1'755'042 1.31 1'042 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 1'716'266 1.29 (39'088) 31.12.2012 Investment Advisor
EGERTON CAPITAL LIMI EGERTON CAPITAL LIMI 13F 1'705'366 1.28 1'011'066 31.12.2012 Hedge Fund Manager
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 1'422'001 1.07 (2'321) 31.12.2012 Investment Advisor
BRAVE WARRIOR ADVISO BRAVE WARRIOR ADVISO 13F 1'411'128 1.06 (299'954) 31.12.2012 Hedge Fund Manager
EMINENCE CAPITAL LLC EMINENCE CAPITAL LLC 13F 1'265'796 0.95 (3'090) 31.12.2012 Hedge Fund Manager
JARISLOWSKY FRASER L JARISLOWSKY FRASER L 13F 1'204'996 0.9 47'434 31.12.2012 Investment Advisor
LORD ABBETT & CO LLC LORD ABBETT & CO LLC 13F 1'193'655 0.89 (172'514) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies SAM CULLEN underperform 1 M 2'540 12 month 27.03.2013
Barclays PAUL CHECKETTS overweight 5 M 3'450 Not Provided 27.03.2013
Deutsche Bank THOMAS SYKES buy 5 M 3'400 12 month 26.03.2013
Raymond James ARNAUD PALLIEZ market perform 3 M #N/A N/A Not Provided 26.03.2013
Goodbody Stockbrokers Ltd ROBERT EASON buy 5 M 3'740 12 month 26.03.2013
Oddo & Cie VIRGINIE ROUSSEAU buy 5 M 3'410 Not Provided 26.03.2013
Oriel Securities Ltd MARK HOWSON hold 3 M #N/A N/A Not Provided 26.03.2013
Panmure Gordon & Co Limited ANDY BROWN sell 1 M 2'500 Not Provided 26.03.2013
Numis Securities Ltd HOWARD SEYMOUR hold 3 M 2'980 Not Provided 25.03.2013
EVA Dimensions CRAIG STERLING hold 3 D #N/A N/A Not Provided 21.03.2013
Liberum Capital Ltd CHARLIE CAMPBELL buy 5 U 3'730 Not Provided 20.03.2013
Day by Day VALERIE GASTALDY buy 5 M 3'507 3 month 04.03.2013
Goldman Sachs JOHN WOODMAN neutral/neutral 3 M 3'440 12 month 28.02.2013
JPMorgan EMILY BIDDULPH overweight 5 M 3'350 9 month 25.02.2013
Cantor Fitzgerald KEVIN LAPWOOD hold 3 N 2'700 Not Provided 11.02.2013
Redburn Partners JOHN MESSENGER neutral 3 D #N/A N/A Not Provided 18.01.2013
Exane BNP Paribas PAUL ROGER neutral 3 M 3'250 Not Provided 18.01.2013
Credit Suisse HARRY GOAD outperform 5 M 3'348 Not Provided 17.12.2012
Berenberg Bank MICHAEL WATTS buy 5 M 3'032 Not Provided 14.12.2012
RBC Capital Markets OLIVIA PETERS outperform 5 M 3'241 12 month 10.12.2012
HSBC RAJESH KUMAR neutral 3 M 3'139 Not Provided 05.11.2012
Shore Capital Stockbrokers JON BELL hold 3 M #N/A N/A Not Provided 20.08.2012
Davy FLORENCE O'DONOGHUE neutral 3 D #N/A N/A Not Provided 18.07.2012
Holdings By:
Wolseley PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
British Sky Broadcasting Group plc provides a pay television broadcasting
accessories. The Company's products include an extensive line of men's and
women's fashion watches and jewelry sold under proprietary and licensed brands,
handbags, small leather goods, belts, sunglasses, and apparel.
Latest Fiscal Year: 06/2012
LTM as of: 12/yy
52-Week High (25.03.2013) 905.50
52-Week Low (05.04.2012) 629.00
Daily Volume
869.5
52-Week High % Change -3.98% Dividend Yield 3.13
52-Week Low % Change 38.24% Beta 0.69
% 52 Week Price Range High/Low 94.21% Equity Float 934.85
Shares Out 20.03.2013 1'616.9 Short Int -
14'058.69 1 Yr Total Return 31.70%
Total Debt 2'414.00 YTD Return 14.80%
Preferred Stock 0.0 Adjusted BETA 0.691
Minority Interest 0.0 Analyst Recs 29
Cash and Equivalents 1'174.00 Consensus Rating 3.345
Enterprise Value 15'490.69
Average Volume 5 Day 2'584'114
BSY LN EQUITY YTD Change - Average Volume 30 Day 2'829'078
BSY LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'669'556
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 12/yy 12/yy 06/13 Y 06/14 Y 03/13 Q3 06/13 Q4
4'952.0 5'359.0 5'506.0 6'565.0 6'791.0 2'567.3 2'857.5 7'152.5 7'498.8 1'811.0 1'820.3
1.99x 1.83x 2.49x 2.41x 1.90x 8.80x 7.86x 2.15x 2.02x 8.16x 8.21x
970.0 1'104.0 1'182.0 1'406.0 1'587.0 523.9 554.4 1'666.1 1'707.9 428.0 415.0
10.14x 8.89x 11.58x 11.25x 8.13x 8.92x 8.44x 9.30x 9.07x - -
(127.0) 259.0 878.0 810.0 906.0 294.7 343.4 930.9 958.5 239.7 227.7
- 30.57x 13.63x 19.46x 13.24x 17.18x 16.51x 15.25x 14.49x - -
EBITDA 1'587.00 Long-Term Rating Date 30.11.2009
EBIT 1'243.00 Long-Term Rating BBB+
Operating Margin 18.30% Long-Term Outlook STABLE
Pretax Margin 17.51% Short-Term Rating Date -
Return on Assets 15.48% Short-Term Rating -
Return on Common Equity 101.38%
Return on Capital 29.12% EBITDA/Interest Exp. 14.30
Asset Turnover 1.13% (EBITDA-Capex)/Interest Exp. 12.24
Net Debt/EBITDA 0.88
Gross Margin - Total Debt/EBITDA 1.74
EBITDA Margin 23.4%
EBIT Margin 18.5% Total Debt/Equity 255.7%
Net Income Margin 13.3% Total Debt/Capital 71.9%
Asset Turnover 1.13
Current Ratio 1.08 Net Fixed Asset Turnover 7.31
Quick Ratio 0.60 Accounts receivable turnover-days -
Debt to Assets 43.82% Inventory Days -
Tot Debt to Common Equity 255.72% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
British Sky Broadcasting Group PLCPrice/Volume
Valuation Analysis
435'578.00
Current Price (3/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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500.0
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1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BSKYB HOLDCO INC Multiple Portfolios REG 645'652'521 39.93 (8'800'626) 01.11.2012 Unclassified
BLACKROCK n/a ULT-AGG 144'275'740 8.92 - 25.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 92'255'500 5.71 (19'085'000) 14.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 88'735'928 5.49 (130'152) 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 62'180'113 3.85 (869'021) 31.12.2012 Investment Advisor
AEGON n/a ULT-AGG 44'992'780 2.78 (1'432'023) 01.11.2012 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 39'916'152 2.47 (9'115'597) 30.11.2012 Unclassified
ODEY ASSET MANAGEMEN Multiple Portfolios REG 37'389'881 2.31 (431'754) 01.11.2012 Hedge Fund Manager
LEGAL & GENERAL n/a ULT-AGG 36'978'729 2.29 (773'923) 01.11.2012 Unclassified
STATE STREET n/a ULT-AGG 36'750'929 2.27 (49'407) 26.03.2013 Investment Advisor
NOMURA INTERNATIONAL n/a RNS-RUL8 32'111'245 1.99 3'259'976 11.07.2011 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 29'127'229 1.8 (332'629) 01.11.2012 Government
LLOYDS BANKING GROUP n/a ULT-AGG 26'738'843 1.65 (9'662) 28.02.2013 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 20'388'936 1.26 (862'242) 01.11.2012 Investment Advisor
INVESCO LTD Multiple Portfolios REG 16'877'130 1.04 2'943'999 01.11.2012 Investment Advisor
ODEY ASSET MGMT LTD Multiple Portfolios MF-AGG 16'708'784 1.03 60'100 28.02.2013 Investment Advisor
MANNING & NAPIER ADV Multiple Portfolios REG 15'531'610 0.96 4'699'330 01.11.2012 Unclassified
BRITISH SKY BROADCAS Multiple Portfolios REG 14'532'207 0.9 (1'204'732) 01.11.2012 Unclassified
VANGUARD GROUP INC Multiple Portfolios MF-AGG 13'681'795 0.85 865'304 31.12.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 12'612'223 0.78 5'232'531 01.11.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Berenberg Bank SARAH SIMON sell 1 M 650 Not Provided 26.03.2013
Peel Hunt PATRICK YAU hold 3 M 845 Not Provided 25.03.2013
Oriel Securities Ltd JOHN KARIDIS sell 1 M 600 Not Provided 25.03.2013
Credit Suisse OMAR SHEIKH neutral 3 M 800 Not Provided 21.03.2013
AlphaValue VERONIQUE CABIOC'H add 4 M 980 6 month 21.03.2013
Goldman Sachs VIGHNESH PADIACHY Buy/Neutral 5 M 1'070 12 month 20.03.2013
Sanford C. Bernstein & Co CLAUDIO ASPESI underperform 1 M 600 12 month 13.03.2013
Nomura MATTHEW WALKER buy 5 M 975 12 month 12.03.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 04.03.2013
New Street Research FRANK KNOWLES buy 5 M 900 Not Provided 01.03.2013
HSBC ADAM M RUMLEY underweight 1 M 600 Not Provided 21.02.2013
Kepler Capital Markets CONOR O'SHEA buy 5 M 960 Not Provided 11.02.2013
Macquarie GUY R PEDDY outperform 5 M 900 12 month 05.02.2013
Deutsche Bank LAURIE DAVISON buy 5 M 970 12 month 01.02.2013
S&P Capital IQ ALEXANDER WISCH hold 3 M 860 12 month 01.02.2013
Numis Securities Ltd PAUL RICHARDS add 4 M 921 Not Provided 01.02.2013
Barclays JULIEN ROCH equalweight 3 M 840 Not Provided 01.02.2013
Morgan Stanley PATRICK WELLINGTON Equalwt/Attractive 3 M 860 12 month 31.01.2013
Investec STEVEN LIECHTI buy 5 M 870 12 month 31.01.2013
Exane BNP Paribas MICHAEL WILLIAMS outperform 5 M 920 Not Provided 31.01.2013
Jefferies WILL SMITH underperform 1 M 650 12 month 24.01.2013
EVA Dimensions CRAIG STERLING hold 3 M #N/A N/A Not Provided 17.01.2013
CA Cheuvreux THOMAS JORION underperform 1 N 800 Not Provided 17.09.2012
JPMorgan MARK O'DONNELL overweight 5 M 910 9 month 12.09.2012
Raymond James STEPHANE BEYAZIAN market perform 3 M #N/A N/A Not Provided 04.09.2012
Espirito Santo Investment Bank ResearchGIASONE SALATI buy 5 M 875 Not Provided 04.09.2012
Panmure Gordon & Co Limited ALEX DE GROOTE not rated #N/A N/A M #N/A N/A Not Provided 25.07.2011
ING Bank SIMON WALLIS buy 5 M 765 12 month 15.06.2010
Natixis JEROME BODIN suspended coverage #N/A N/A M #N/A N/A Not Provided 16.02.2010
Holdings By:
British Sky Broadcasting Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Standard Life PLC is a group holding company for a wide variety of insurance
of which are enabled by Global Positioning System (GPS) technology. The Company
designs, develops, manufactures, and markets hand-held, portable, and fixed
mount GPS-enabled products and other navigation, communications, and information
products under its own brand name.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (14.03.2013) 386.70
52-Week Low (18.05.2012) 199.00
Daily Volume
360.7
52-Week High % Change -6.78% Dividend Yield 7.63
52-Week Low % Change 81.16% Beta 1.24
% 52 Week Price Range High/Low 90.09% Equity Float 2'354.68
Shares Out 28.02.2013 2'358.0 Short Int -
8'505.42 1 Yr Total Return 58.42%
Total Debt 1'976.00 YTD Return 8.55%
Preferred Stock 0.0 Adjusted BETA 1.243
Minority Interest 341.0 Analyst Recs 25
Cash and Equivalents 9'942.00 Consensus Rating 2.800
Enterprise Value 880.42
Average Volume 5 Day 4'856'709
SL/ LN EQUITY YTD Change - Average Volume 30 Day 5'097'891
SL/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 4'698'171
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
(16'225.0) 17'167.0 18'569.0 9'086.0 19'185.0 2'758.6 2'715.7 20'389.6 22'064.2 - -
- - 0.08x - 0.01x 6.20x 8.08x - - - -
- - - - - 648.3 694.6 - - - -
- - - - - 8.10x 7.34x - - - -
100.0 213.0 432.0 298.0 698.0 520.9 542.4 538.4 603.0 - -
29.28x 29.06x 11.75x 15.93x 11.19x 14.74x 14.30x 15.03x 13.87x - -
EBITDA - Long-Term Rating Date 13.01.2004
EBIT - Long-Term Rating A-
Operating Margin 4.80% Long-Term Outlook STABLE
Pretax Margin 4.06% Short-Term Rating Date 13.01.2004
Return on Assets 0.42% Short-Term Rating NR
Return on Common Equity 16.79%
Return on Capital 12.94% 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 45.4%
Net Income Margin 3.6% Total Debt/Capital 29.6%
Asset Turnover 0.11
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 1.13% Inventory Days -
Tot Debt to Common Equity 45.37% 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 Life PLCPrice/Volume
Valuation Analysis
1'144'237.00
Current Price (3/dd/yy) Market Data
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500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
4'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PRIVATE INDIVIDUALS Multiple Portfolios REG 1'036'519'084 43.96 (15'953'109) 03.10.2012 Other
BLACKROCK n/a ULT-AGG 113'806'452 4.83 1'507'414 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 100'730'729 4.27 (2'140'745) 28.02.2013 Unclassified
ARTEMIS INVESTMENT M Multiple Portfolios REG 57'307'886 2.43 1'234'991 03.10.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 36'285'342 1.54 (2'379'780) 30.11.2012 Unclassified
NEWTON INV MGMT Multiple Portfolios REG 35'876'476 1.52 (4'707'169) 03.10.2012 Mutual Fund Manager
ARTEMIS INVESTMENT M Multiple Portfolios MF-AGG 32'962'353 1.4 (7'065'125) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 31'300'278 1.33 3'823'597 31.01.2013 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 30'528'602 1.29 (1'888'164) 26.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 24'810'875 1.05 1'100'647 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 24'632'319 1.04 3'322'539 03.10.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 21'579'330 0.92 1'752'700 03.10.2012 Government
HENDERSON GLOBAL INV Multiple Portfolios REG 20'953'671 0.89 (1'018'790) 03.10.2012 Investment Advisor
JUPITER ASSET MANAGE Multiple Portfolios REG 19'988'853 0.85 (730'058) 03.10.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios REG 19'615'519 0.83 8'107'695 03.10.2012 Investment Advisor
STATE STREET n/a ULT-AGG 18'890'275 0.8 1'970'064 26.03.2013 Investment Advisor
MAJEDIE ASSET MANAGE Multiple Portfolios REG 18'729'100 0.79 1'451'606 03.10.2012 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 18'271'783 0.77 4'361'865 03.10.2012 Government
RWC PARTNERS LTD Multiple Portfolios REG 17'317'577 0.73 1'178'977 03.10.2012 Investment Advisor
JO HAMBRO CAPITAL MA Multiple Portfolios REG 16'422'300 0.7 476'348 03.10.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Panmure Gordon & Co Limited BARRIE CORNES buy 5 M 420 Not Provided 25.03.2013
Barclays ALAN DEVLIN underweight 1 M 317 Not Provided 20.03.2013
Day by Day VALERIE GASTALDY buy 5 M 394 3 month 18.03.2013
Sanford C. Bernstein & Co EDWARD HOUGHTON underperform 1 M 300 12 month 15.03.2013
Exane BNP Paribas ANDY HUGHES outperform 5 M 395 Not Provided 14.03.2013
S&P Capital IQ RODERICK WALLACE hold 3 M 365 12 month 13.03.2013
HSBC KAILESH MISTRY underweight 1 M 310 Not Provided 11.03.2013
Keefe, Bruyette & Woods GREIG N PATERSON market perform 3 M 338 12 month 07.03.2013
Oriel Securities Ltd MARCUS BARNARD add 4 M 260 Not Provided 07.03.2013
Credit Suisse CHRIS ESSON underperform 1 M 321 Not Provided 27.02.2013
RBC Capital Markets GORDON AITKEN sector perform 3 M 260 12 month 20.02.2013
JPMorgan ASHIK MUSADDI overweight 5 M 349 9 month 11.02.2013
Macquarie NEIL WELCH outperform 5 N 378 12 month 07.02.2013
Societe Generale ABID HUSSAIN hold 3 M 330 12 month 30.01.2013
Deutsche Bank OLIVER STEEL hold 3 M 360 12 month 24.01.2013
Goldman Sachs COLIN L SIMPSON Sell/Neutral 1 M 300 12 month 18.01.2013
EVA Dimensions AUSTIN BURKETT sell 1 M #N/A N/A Not Provided 17.01.2013
Investec KEVIN RYAN buy 5 M 373 12 month 07.01.2013
Morgan Stanley JON HOCKING Underwt/In-Line 1 M 285 12 month 05.12.2012
Shore Capital Stockbrokers EAMONN FLANAGAN hold 3 M #N/A N/A Not Provided 26.11.2012
Redburn Partners LANCE BURBIDGE buy 5 M #N/A N/A Not Provided 22.11.2012
Berenberg Bank MATTHEW PRESTON sell 1 M 290 Not Provided 31.10.2012
Nomura BEN BATHURST reduce 2 M 260 Not Provided 21.03.2012
Daiwa Securities Co. Ltd. TIM PROUDLOVE hold 3 M 223 6 month 01.07.2011
Holdings By:
Standard Life PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Smith & Nephew plc develops and markets advanced medical devices. The Group is
discovers, develops, and commercializes therapeutics to advance the care of
patients suffering from life-threatening diseases. The Company's primary areas
of focus include HIV/AIDS, liver disease and serious cardiovascular and
respiratory conditions.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (27.03.2013) 759.00
52-Week Low (06.06.2012) 567.50
Daily Volume
750.5
52-Week High % Change -1.52% Dividend Yield 2.31
52-Week Low % Change 31.72% Beta 0.86
% 52 Week Price Range High/Low 99.48% Equity Float 903.77
Shares Out 28.02.2013 905.1 Short Int -
6'793.08 1 Yr Total Return 20.89%
Total Debt 468.00 YTD Return 10.01%
Preferred Stock 0.0 Adjusted BETA 0.864
Minority Interest 0.0 Analyst Recs 24
Cash and Equivalents 178.00 Consensus Rating 3.500
Enterprise Value 10'549.58
Average Volume 5 Day 1'832'336
SN/ LN EQUITY YTD Change - Average Volume 30 Day 1'632'606
SN/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'667'207
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
3'801.0 3'772.0 3'962.0 4'270.0 4'137.0 8'385.4 9'702.5 4'407.2 4'597.9 1'072.3 1'108.0
1.83x 2.68x 2.49x 2.06x 2.48x 14.21x 21.53x 2.30x 2.13x 9.67x 9.28x
1'049.0 1'169.0 1'223.0 1'208.0 1'250.0 4'094.7 4'288.4 1'255.8 1'370.4 314.0 322.5
6.65x 8.64x 8.08x 7.29x 8.21x 6.98x 14.38x 8.40x 7.70x 8.03x -
377.0 472.0 615.0 582.0 729.0 2'803.6 2'591.6 694.4 755.3 166.0 172.5
15.00x 19.34x 15.23x 14.85x 13.58x 11.34x 21.60x 14.51x 13.30x 14.29x -
EBITDA 1'250.00 Long-Term Rating Date -
EBIT 938.00 Long-Term Rating -
Operating Margin 22.67% Long-Term Outlook -
Pretax Margin 26.59% Short-Term Rating Date -
Return on Assets 14.03% Short-Term Rating -
Return on Common Equity 20.62%
Return on Capital 18.75% EBITDA/Interest Exp. 104.17
Asset Turnover 0.80% (EBITDA-Capex)/Interest Exp. 82.08
Net Debt/EBITDA 0.23
Gross Margin 74.1% Total Debt/EBITDA 0.38
EBITDA Margin 29.9%
EBIT Margin 22.0% Total Debt/Equity 12.0%
Net Income Margin 17.6% Total Debt/Capital 10.8%
Asset Turnover 0.80
Current Ratio 2.31 Net Fixed Asset Turnover 5.25
Quick Ratio 1.18 Accounts receivable turnover-days 80.29
Debt to Assets 8.29% Inventory Days 301.01
Tot Debt to Common Equity 12.05% Accounts Payable Turnover Day 196.66
Accounts Receivable Turnover 4.56 Cash Conversion Cycle 184.64
Inventory Turnover 1.22
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
Smith & Nephew PLCPrice/Volume
Valuation Analysis
301'535.00
Current Price (3/dd/yy) Market Data
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5 ! F
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-. ! F
-1 ! F
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0.0
2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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2 !!
-! !!
-2 !!
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESCO LTD Multiple Portfolios REG 107'823'255 11.91 12'568'680 01.01.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 45'423'030 5.02 (690'970) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 44'811'205 4.95 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 37'192'814 4.11 335'770 28.02.2013 Unclassified
WALTER SCOTT & PARTN Multiple Portfolios REG 32'053'564 3.54 458'500 01.01.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 27'648'521 3.05 3'478'352 01.01.2013 Unclassified
LEGAL & GENERAL n/a RNS-MAJ 27'146'459 3 - 25.01.2013 Investment Advisor
ARTEMIS INVESTMENT M Multiple Portfolios REG 21'472'113 2.37 (613'011) 01.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 20'961'946 2.32 229'678 01.01.2013 Government
AVIVA INVESTORS Multiple Portfolios REG 20'885'005 2.31 (294'422) 01.01.2013 Investment Advisor
PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 20'140'592 2.23 23'505 31.07.2012 Investment Advisor
FMR LLC n/a ULT-AGG 18'751'707 2.07 12'053'956 31.01.2013 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 18'269'229 2.02 (97'189) 01.01.2013 Investment Advisor
ARTEMIS INVESTMENT M Multiple Portfolios MF-AGG 15'864'866 1.75 46'000 31.12.2012 Investment Advisor
THORNBURG INVESTMENT n/a RNS-MAJ 14'783'322 1.63 - 12.01.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 14'151'049 1.56 1'030'208 31.12.2012 Investment Advisor
AXA n/a ULT-AGG 12'955'806 1.43 (1'062'565) 01.01.2013 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 12'019'345 1.33 1'502'867 26.03.2013 Investment Advisor
JO HAMBRO CAPITAL MA Multiple Portfolios REG 11'748'075 1.3 498'476 01.01.2013 Mutual Fund Manager
UBS n/a ULT-AGG 11'736'785 1.3 (41'768) 01.01.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale JUSTIN SMITH sell 1 M 585 12 month 25.03.2013
Sanford C. Bernstein & Co LISA BEDELL CLIVE market perform 3 M 760 12 month 25.03.2013
Morgan Stanley MICHAEL K JUNGLING Equalwt/Attractive 3 M 735 12 month 21.03.2013
Goldman Sachs VERONIKA DUBAJOVA neutral/neutral 3 M 765 12 month 21.03.2013
Exane BNP Paribas JULIEN DORMOIS outperform 5 M 775 Not Provided 21.03.2013
AlphaValue KAMLA SINGH reduce 2 M 737 6 month 21.03.2013
EVA Dimensions ANDREW S ZAMFOTIS overweight 5 U #N/A N/A Not Provided 06.03.2013
Barclays SALLY TAYLOR equalweight 3 M 717 Not Provided 05.03.2013
Numis Securities Ltd CHARLES WESTON add 4 M 800 Not Provided 01.03.2013
S&P Capital IQ JACOB THRANE hold 3 M 750 Not Provided 15.02.2013
Jefferies INGEBORG OIE buy 5 M 800 12 month 12.02.2013
Berenberg Bank TOM JONES buy 5 M 805 Not Provided 08.02.2013
Panmure Gordon & Co Limited SAVVAS NEOPHYTOU hold 3 M 720 Not Provided 08.02.2013
Credit Suisse CHRISTOPH GRETLER neutral 3 M 725 Not Provided 07.02.2013
JPMorgan DAVID J ADLINGTON neutral 3 M 709 12 month 07.02.2013
Nomura MARTIN BRUNNINGER neutral 3 M 596 12 month 07.02.2013
Shore Capital Stockbrokers BRIAN WHITE sell 1 M #N/A N/A Not Provided 06.02.2013
Day by Day VALERIE GASTALDY buy 5 M 766 3 month 28.01.2013
Deutsche Bank YI-DAN WANG hold 3 M 638 12 month 08.01.2013
Investec SEBASTIEN JANTET buy 5 U 730 12 month 10.12.2012
Cenkos Securities Ltd NAVID MALIK buy 5 M 790 Not Provided 06.07.2012
Daniel Stewart & Co VADIM K ALEXANDRE buy 5 M 766 12 month 07.02.2012
Equita SIM SpA FABIO FAZZARI buy 5 M 680 12 month 23.11.2011
Holdings By:
Smith & Nephew PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Next Plc conducts retailing, home shopping, and customer services management
engine through its website. The Company offers a wide range of search options,
including web, image, groups, directory, and news searches.
Latest Fiscal Year: 01/2013
LTM as of: 12/yy
52-Week High (26.03.2013) 4'386.00
52-Week Low (21.05.2012) 2'882.00
Daily Volume
4325
52-Week High % Change -1.39% Dividend Yield 2.43
52-Week Low % Change 50.07% Beta 0.65
% 52 Week Price Range High/Low 98.60% Equity Float 151.93
Shares Out 22.03.2013 160.8 Short Int -
6'954.05 1 Yr Total Return 48.46%
Total Debt 747.40 YTD Return 16.61%
Preferred Stock 0.0 Adjusted BETA 0.645
Minority Interest (0.1) Analyst Recs 28
Cash and Equivalents 136.30 Consensus Rating 3.250
Enterprise Value 7'565.05
Average Volume 5 Day 769'644
NXT LN EQUITY YTD Change - Average Volume 30 Day 537'300
NXT LN EQUITY YTD % CHANGE - Average Volume 3 Month 457'158
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.01.2009 31.01.2010 31.01.2011 31.01.2012 31.01.2013 12/yy 12/yy 01/14 Y 01/15 Y - -
3'271.5 3'406.5 3'297.7 3'441.1 3'547.8 - - 3'690.0 3'822.0 - -
0.86x 1.23x 1.26x 1.46x 2.02x - - 2.02x 1.94x - -
624.6 672.8 691.2 722.5 781.8 - - 802.0 831.7 - -
4.49x 6.21x 6.02x 6.95x 9.15x - - 9.43x 9.10x - -
302.4 364.1 401.1 474.9 508.7 - - 497.3 525.5 - -
7.03x 10.43x 9.16x 10.16x 12.68x - - 13.78x 12.55x - -
EBITDA 781.80 Long-Term Rating Date 13.05.2003
EBIT 664.60 Long-Term Rating BBB
Operating Margin 18.73% Long-Term Outlook STABLE
Pretax Margin 18.79% Short-Term Rating Date 09.03.2010
Return on Assets 27.15% Short-Term Rating A-2
Return on Common Equity 200.12%
Return on Capital 55.40% EBITDA/Interest Exp. 26.96
Asset Turnover 1.89% (EBITDA-Capex)/Interest Exp. 24.14
Net Debt/EBITDA 0.78
Gross Margin 31.5% Total Debt/EBITDA 0.96
EBITDA Margin 22.0%
EBIT Margin 18.7% Total Debt/Equity 261.6%
Net Income Margin 14.3% Total Debt/Capital 72.4%
Asset Turnover 1.89
Current Ratio 1.48 Net Fixed Asset Turnover 6.34
Quick Ratio 0.17 Accounts receivable turnover-days -
Debt to Assets 39.47% Inventory Days 52.97
Tot Debt to Common Equity 261.60% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 87.25
Inventory Turnover 6.91
Fiscal Year Ended
Next PLCPrice/Volume
Valuation Analysis
102'068.00
Current Price (3/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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. ! F
. 2 F
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0 2 F
1 ! F
0.0
10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FMR LLC n/a ULT-AGG 18'215'530 6.81 (5'443) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 14'812'725 5.54 308'479 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 11'833'058 4.42 347'460 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 11'006'397 4.11 1'637'525 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 10'616'879 3.97 (388'122) 26.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 9'457'496 3.54 151'141 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 6'419'685 2.4 623'378 31.12.2012 Unclassified
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 4'586'974 1.71 27'119 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 4'016'989 1.5 (227'260) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'824'800 1.43 (23'714) 31.12.2012 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 3'207'437 1.2 (39'630) 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 2'756'412 1.03 597'897 31.12.2012 Investment Advisor
DAVIS SELECTED ADVIS DAVIS SELECTED ADVIS 13F 2'715'974 1.02 (130'698) 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 2'501'395 0.94 (90'008) 31.12.2012 Investment Advisor
SANDS CAPITAL MANAGE SANDS CAPITAL MANAGE 13F 2'490'314 0.93 6'165 31.12.2012 Investment Advisor
UBS n/a ULT-AGG 2'380'317 0.89 (21'961) 31.01.2013 Unclassified
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 2'222'539 0.83 (122'117) 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 2'173'908 0.81 320'943 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 2'116'195 0.79 333'660 31.12.2012 Government
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 2'046'828 0.77 76'916 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co HEATHER BELLINI neutral/neutral 3 M 760 12 month 26.03.2013
Jefferies BRIAN J PITZ buy 5 M 1'000 12 month 26.03.2013
Wedbush JAMES G DIX neutral 3 M 770 12 month 26.03.2013
Robert W. Baird & Co COLIN SEBASTIAN outperform 5 M 830 12 month 25.03.2013
Wedge Partners MARTIN PYYKKONEN no rating system #N/A N/A M #N/A N/A Not Provided 25.03.2013
Sanford C. Bernstein & Co CARLOS KIRJNER outperform 5 M 1'000 12 month 22.03.2013
Cantor Fitzgerald YOUSSEF H SQUALI buy 5 M 900 12 month 22.03.2013
Cowen and Company JOHN BLACKLEDGE outperform 5 M #N/A N/A Not Provided 22.03.2013
Barclays ANTHONY J DICLEMENTE overweight 5 M 850 Not Provided 22.03.2013
Edward Jones JOSH OLSON buy 5 M #N/A N/A Not Provided 21.03.2013
Credit Agricole Securities (USA) JAMES LEE buy 5 M 1'000 Not Provided 20.03.2013
Tigress Financial Partners IVAN FEINSETH strong buy 5 M #N/A N/A Not Provided 20.03.2013
JMP Securities RONALD V JOSEY III market outperform 4 N 955 12 month 19.03.2013
Stifel JORDAN ROHAN hold 3 M #N/A N/A Not Provided 18.03.2013
Daiwa Securities Co. Ltd. KAZUYA NISHIMURA outperform 5 M 925 Not Provided 15.03.2013
Pivotal Research Group LLC BRIAN WIESER hold 3 M 820 12 month 15.03.2013
Sterne, Agee & Leach SHAW WU neutral 3 M #N/A N/A Not Provided 14.03.2013
Canaccord Genuity Corp MICHAEL GRAHAM buy 5 M 830 Not Provided 14.03.2013
Wells Fargo Securities, LLC JASON MAYNARD market perform 3 M #N/A N/A Not Provided 14.03.2013
Morgan Stanley SCOTT W DEVITT Overwt/Attractive 5 M 932 12 month 12.03.2013
BMO Capital Markets DANIEL SALMON market perform 3 M 790 Not Provided 11.03.2013
Pacific Crest Securities EVAN S WILSON outperform 5 M 980 12 month 11.03.2013
Oppenheimer & Co JASON S HELFSTEIN market perform 3 M 765 12 month 11.03.2013
Nomura BRIAN NOWAK buy 5 M 860 12 month 11.03.2013
RBC Capital Markets MARK S MAHANEY outperform 5 M 950 12 month 10.03.2013
Atlantic Equities LLP HAMILTON FABER overweight 5 M 1'000 12 month 07.03.2013
William Blair & Co RALPH SCHACKART outperform 5 M #N/A N/A Not Provided 05.03.2013
Piper Jaffray EUGENE E MUNSTER overweight 5 M 938 12 month 01.03.2013
Argus Research Corp JOSEPH F BONNER buy 5 M 875 Not Provided 28.02.2013
EVA Dimensions ANDREW S ZAMFOTIS hold 3 D #N/A N/A Not Provided 22.02.2013
Deutsche Bank ROSS SANDLER buy 5 M 935 12 month 21.02.2013
S&P Capital IQ SCOTT H KESSLER hold 3 M 825 12 month 20.02.2013
Telsey Advisory Group THOMAS FORTE no rating system #N/A N/A M 870 Not Provided 10.02.2013
JPMorgan DOUGLAS ANMUTH overweight 5 M 860 9 month 07.02.2013
Hilliard Lyons STEPHEN TURNER neutral 3 D #N/A N/A Not Provided 06.02.2013
Raymond James AARON M KESSLER outperform 5 M 825 12 month 05.02.2013
Hamburger Sparkasse MARCO GUENTHER hold 3 M #N/A N/A Not Provided 29.01.2013
Independent Research GmbH MARKUS FRIEBEL hold 3 M 800 12 month 24.01.2013
Credit Suisse STEPHEN JU outperform 5 M 847 Not Provided 23.01.2013
Needham & Co KERRY RICE buy 5 M 850 12 month 23.01.2013
Macquarie BENJAMIN A SCHACHTER outperform 5 M 795 12 month 23.01.2013
B Riley & Company, Inc SAMEET SINHA buy 5 M 846 Not Provided 23.01.2013
BGC Partners COLIN W GILLIS hold 3 M 760 12 month 23.01.2013
Holdings By:
Next PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Kingfisher plc sells a wide range of home improvement consumer goods. The
practice management software, to office-based healthcare practitioners. The
Company has operations in North America and other countries. Henry Schein's
operations include direct marketing, telesales, and field sales.
Latest Fiscal Year: 01/2013
LTM as of: 12/yy
52-Week High (03.04.2012) 317.00
52-Week Low (24.07.2012) 252.00
Daily Volume
282.1
52-Week High % Change -11.14% Dividend Yield 3.36
52-Week Low % Change 11.79% Beta 0.96
% 52 Week Price Range High/Low 47.69% Equity Float 2'369.89
Shares Out 05.03.2013 2'372.4 Short Int -
6'692.47 1 Yr Total Return -6.60%
Total Debt 431.00 YTD Return -0.84%
Preferred Stock 0.0 Adjusted BETA 0.961
Minority Interest 8.0 Analyst Recs 26
Cash and Equivalents 398.00 Consensus Rating 3.808
Enterprise Value 6'733.47
Average Volume 5 Day 7'733'028
KGF LN EQUITY YTD Change - Average Volume 30 Day 6'921'363
KGF LN EQUITY YTD % CHANGE - Average Volume 3 Month 6'311'885
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.01.2009 31.01.2010 31.01.2011 31.01.2012 31.01.2013 12/yy 12/yy 01/14 Y 01/15 Y 04/13 Q1 07/13 Q2
10'026.0 10'503.0 10'450.0 10'831.0 10'573.0 8'530.2 8'940.0 11'026.0 11'462.1 2'707.0 2'890.0
0.44x 0.50x 0.58x 0.57x 0.62x 3.18x 3.48x 0.60x 0.56x - -
672.0 833.0 915.0 1'031.0 989.0 698.0 759.5 1'039.8 1'132.9 - -
6.60x 6.36x 6.66x 6.02x 6.63x 9.30x 10.37x 6.48x 5.94x - -
209.0 388.0 494.0 640.0 564.0 367.7 388.1 568.1 635.1 - -
695.50x 12.87x 12.17x 9.30x 11.40x 16.23x 18.05x 11.75x 10.53x - -
EBITDA 989.00 Long-Term Rating Date 30.04.2008
EBIT 741.00 Long-Term Rating BBB-
Operating Margin 7.01% Long-Term Outlook POS
Pretax Margin 6.54% Short-Term Rating Date 30.04.2008
Return on Assets 5.78% Short-Term Rating A-3
Return on Common Equity 9.51%
Return on Capital 8.88% EBITDA/Interest Exp. 49.45
Asset Turnover 1.08% (EBITDA-Capex)/Interest Exp. 33.65
Net Debt/EBITDA 0.03
Gross Margin 37.4% Total Debt/EBITDA 0.44
EBITDA Margin 9.4%
EBIT Margin 7.0% Total Debt/Equity 7.0%
Net Income Margin 5.3% Total Debt/Capital 6.5%
Asset Turnover 1.08
Current Ratio 1.07 Net Fixed Asset Turnover 2.85
Quick Ratio 0.14 Accounts receivable turnover-days -
Debt to Assets 4.35% Inventory Days 110.07
Tot Debt to Common Equity 7.01% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 29.64
Inventory Turnover 3.37
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
Kingfisher PLCPrice/Volume
Valuation Analysis
1'688'596.00
Current Price (3/dd/yy) Market Data
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2'000.0
3'000.0
4'000.0
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6'000.0
7'000.0
8'000.0
9'000.0
10'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES n/a ULT-AGG 423'454'189 17.85 65'428'739 02.01.2013 Investment Advisor
TEMPLETON GLOBAL ADV n/a Co File 197'406'849 8.32 - 15.02.2012 Investment Advisor
THORNBURG INVESTMENT n/a Co File 186'101'763 7.84 - 15.02.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 142'358'584 6 21'482'758 25.03.2013 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 104'001'992 4.38 - 31.01.2013 Investment Advisor
FMR LLC n/a ULT-AGG 102'938'516 4.34 4'354'842 31.01.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 96'465'249 4.07 11'771'600 31.12.2012 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 94'535'069 3.98 (2'352'389) 28.02.2013 Unclassified
BNP PARIBAS INV PART n/a ULT-AGG 63'893'910 2.69 (19'386'651) 31.01.2013 Investment Advisor
APG ALGEMENE PENSIOE Multiple Portfolios REG 59'959'956 2.53 6'082'195 02.01.2013 Pension Fund (ERISA)
NORGES BANK INVESTME Multiple Portfolios REG 54'135'204 2.28 - 02.01.2013 Government
STANDARD LIFE INVEST Multiple Portfolios REG 53'890'493 2.27 20'742'949 02.01.2013 Investment Advisor
HSBC INVESTMENTS UK Multiple Portfolios REG 52'795'729 2.23 (4'093'498) 02.01.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 50'291'639 2.12 9'600'632 02.01.2013 Unclassified
JP MORGAN n/a ULT-AGG 41'166'998 1.74 1'062'789 31.01.2013 Unclassified
BANK OF NEW YORK MEL Multiple Portfolios REG 34'602'970 1.46 10'730'078 02.01.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 30'928'345 1.3 - 02.01.2013 Government
UBS n/a ULT-AGG 27'059'859 1.14 267'265 31.01.2013 Unclassified
MAJEDIE ASSET MANAGE Multiple Portfolios REG 26'266'422 1.11 (1'688'639) 02.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 24'791'175 1.04 796'676 02.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale JEFFREY D JOHNSON outperform 5 M 98 12 month 26.03.2013
Piper Jaffray KEVIN ELLICH neutral 3 M 92 12 month 26.03.2013
Northcoast Research EDWIN SNYDER buy 5 M 110 12 month 25.03.2013
Edward Jones MATTHEW D COLLINS buy 5 M #N/A N/A Not Provided 18.03.2013
William Blair & Co JOHN C KREGER outperform 5 M #N/A N/A Not Provided 17.03.2013
Leerink Swann & Co DAVID LARSEN market perform 3 M #N/A N/A Not Provided 26.02.2013
Jefferies BRANDON COUILLARD hold 3 M 80 12 month 25.02.2013
Stifel JONATHAN D BLOCK hold 3 M #N/A N/A Not Provided 25.02.2013
Credit Suisse GLEN SANTANGELO neutral 3 M 92 Not Provided 14.02.2013
JPMorgan LISA C GILL neutral 3 M 89 9 month 14.02.2013
Barrington Research CHARLES R JONES market perform 3 M #N/A N/A Not Provided 14.02.2013
CL King & Associates ROSS TAYLOR buy 5 M 100 12 month 14.02.2013
Wallachbeth Capital LLC GLEN M LOSEV hold 3 M 85 12 month 14.02.2013
Goldman Sachs ROBERT P JONES neutral/neutral 3 M 92 12 month 13.02.2013
ISI Group MICHAEL CHERNY neutral 3 M 88 12 month 13.02.2013
EVA Dimensions ANDREW S ZAMFOTIS hold 3 D #N/A N/A Not Provided 04.02.2013
Holdings By:
Kingfisher PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Associated British Foods PLC is a diversified international food, ingredients,
related products. The Company's major products include microprocessors,
chipsets, embedded processors and microcontrollers, flash memory products,
graphics products, network and communications products, systems management
software, conferencing products, and digital imaging products.
Latest Fiscal Year: 08/2012
LTM as of: 12/yy
52-Week High (19.03.2013) 1'905.00
52-Week Low (06.06.2012) 1'157.00
Daily Volume
1862
52-Week High % Change -2.68% Dividend Yield 1.54
52-Week Low % Change 60.24% Beta 0.59
% 52 Week Price Range High/Low 94.39% Equity Float 356.29
Shares Out 08.11.2012 791.7 Short Int -
14'740.97 1 Yr Total Return 55.54%
Total Debt 1'452.00 YTD Return 18.54%
Preferred Stock 0.0 Adjusted BETA 0.593
Minority Interest 387.0 Analyst Recs 23
Cash and Equivalents 391.00 Consensus Rating 3.261
Enterprise Value 16'188.97
Average Volume 5 Day 851'703
ABF LN EQUITY YTD Change - Average Volume 30 Day 942'824
ABF LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'027'945
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.09.2008 30.09.2009 30.09.2010 30.09.2011 30.09.2012 12/yy 12/yy 09/13 Y 09/14 Y - -
8'235.0 9'255.0 10'167.0 11'065.0 12'252.0 - - 13'094.3 13'894.6 - -
0.85x 0.88x 0.94x 0.95x 0.94x - - 1.22x 1.13x - -
878.0 1'082.0 1'304.0 1'296.0 1'568.0 - - 1'575.3 1'691.9 - -
7.96x 7.52x 7.35x 8.15x 7.36x - - 10.28x 9.57x - -
357.0 359.0 546.0 541.0 555.0 - - 755.9 838.0 - -
16.50x 18.89x 15.15x 16.28x 18.13x - - 19.42x 17.52x - -
EBITDA 1'568.00 Long-Term Rating Date -
EBIT 1'052.00 Long-Term Rating -
Operating Margin 8.59% Long-Term Outlook -
Pretax Margin 6.21% Short-Term Rating Date -
Return on Assets 5.43% Short-Term Rating -
Return on Common Equity 9.58%
Return on Capital 8.66% EBITDA/Interest Exp. 13.75
Asset Turnover 1.20% (EBITDA-Capex)/Interest Exp. 7.61
Net Debt/EBITDA 0.68
Gross Margin 24.2% Total Debt/EBITDA 0.93
EBITDA Margin 12.8%
EBIT Margin 8.6% Total Debt/Equity 24.9%
Net Income Margin 4.5% Total Debt/Capital 18.9%
Asset Turnover 1.20
Current Ratio 1.20 Net Fixed Asset Turnover 2.72
Quick Ratio 0.53 Accounts receivable turnover-days 28.51
Debt to Assets 14.18% Inventory Days -
Tot Debt to Common Equity 24.89% Accounts Payable Turnover Day -
Accounts Receivable Turnover 12.77 Cash Conversion Cycle 54.48
Inventory Turnover -
Fiscal Year Ended
Associated British Foods PLCPrice/Volume
Valuation Analysis
182'605.00
Current Price (3/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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20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
WITTINGTON PROPTYS L n/a Co File 431'515'108 54.51 - 15.09.2012 Investment Advisor
HOWARD INVESTMENTS L Multiple Portfolios REG 28'173'893 3.56 - 01.12.2012 Unclassified
CAPITAL GROUP COMPAN n/a ULT-AGG 24'295'000 3.07 - 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 17'725'570 2.24 4'314'677 31.01.2013 Investment Advisor
NEWTON INV MGMT Multiple Portfolios REG 15'975'514 2.02 (53'882) 01.12.2012 Mutual Fund Manager
LEGAL & GENERAL n/a ULT-AGG 15'921'464 2.01 179'534 28.02.2013 Unclassified
ASSOCIATED BRITISH F Multiple Portfolios REG 14'299'314 1.81 - 01.12.2012 Unclassified
ROYAL BANK OF CANADA n/a ULT-AGG 14'216'679 1.8 (1'447'801) 01.12.2012 Bank
NORGES BANK INVESTME Multiple Portfolios REG 11'741'776 1.48 - 01.12.2012 Government
BLACKROCK n/a ULT-AGG 11'501'849 1.45 217'025 25.03.2013 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 8'303'018 1.05 (1'330'909) 26.03.2013 Investment Advisor
ABERDEEN n/a ULT-AGG 7'886'699 1 (310'454) 28.02.2013 Unclassified
AEGON n/a ULT-AGG 5'933'442 0.75 (137'379) 01.12.2012 Unclassified
LAZARD ASSET MANAGEM n/a ULT-AGG 5'841'542 0.74 (157'533) 01.12.2012 Unclassified
GALEWEST LIMITED Multiple Portfolios REG 5'258'642 0.66 - 01.12.2012 Unclassified
VANGUARD GROUP INC Multiple Portfolios MF-AGG 4'608'005 0.58 977'135 31.12.2012 Investment Advisor
JP MORGAN PRIVATE BA Multiple Portfolios REG 4'495'143 0.57 - 01.12.2012 Unclassified
STANDARD LIFE INVEST Multiple Portfolios REG 4'293'104 0.54 (17'444) 01.12.2012 Investment Advisor
DIRECTOR & RELATED H Multiple Portfolios REG 3'952'713 0.5 60'113 01.12.2012 Other
KUWAIT INVESTMENT AU Multiple Portfolios REG 3'815'927 0.48 (150'000) 01.12.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Shore Capital Stockbrokers STACY A RASGON underperform 1 M 18 12 month 26.03.2013
BMO Capital Markets AMBRISH SRIVASTAVA market perform 3 M 21 Not Provided 25.03.2013
Robert W. Baird & Co TRISTAN GERRA outperform 5 M 26 12 month 25.03.2013
Wells Fargo Securities, LLC DAVID M WONG outperform 5 M #N/A N/A Not Provided 25.03.2013
Piper Jaffray AUGUSTE P RICHARD neutral 3 M 21 12 month 25.03.2013
Drexel Hamilton LLC RICHARD WHITTINGTON hold 3 M 22 12 month 25.03.2013
Sterne, Agee & Leach VIJAY R RAKESH neutral 3 M 18 12 month 24.03.2013
Evercore Partners PATRICK WANG equalweight 3 M 22 12 month 24.03.2013
MKM Partners DANIEL A BERENBAUM buy 5 M 24 12 month 22.03.2013
Argus Research Corp JAMES KELLEHER buy 5 M 25 Not Provided 21.03.2013
JPMorgan CHRISTOPHER DANELY neutral 3 M 19 9 month 21.03.2013
B Riley & Company, Inc CRAIG ELLIS neutral 3 M 24 Not Provided 21.03.2013
Miller Tabak + Co., LLC BRENDAN FURLONG hold 3 M 23 12 month 21.03.2013
Susquehanna Financial Group CHRISTOPHER CASO neutral 3 M 21 12 month 21.03.2013
FBR Capital Markets CHRISTOPHER ROLLAND market perform 3 M 23 12 month 20.03.2013
Longbow Research JOANNE FEENEY neutral 3 M #N/A N/A Not Provided 20.03.2013
Stifel KEVIN E CASSIDY buy 5 M 28 12 month 18.03.2013
Barclays BLAYNE CURTIS equalweight 3 M 20 Not Provided 18.03.2013
Williams Financial Group CODY G ACREE hold 3 M #N/A N/A Not Provided 15.03.2013
Cowen and Company TIMOTHY M ARCURI neutral 3 M #N/A N/A Not Provided 11.03.2013
Maxim Group LLC ASHOK KUMAR buy 5 M 29 12 month 11.03.2013
Pacific Crest Securities MICHAEL MCCONNELL sector perform 3 M #N/A N/A Not Provided 06.03.2013
Canaccord Genuity Corp ROBERT BURLESON hold 3 M 20 12 month 06.03.2013
Edward Jones WILLIAM C KREHER hold 3 M #N/A N/A Not Provided 05.03.2013
ISI Group SUMIT DHANDA buy 5 M 25 12 month 04.03.2013
JMP Securities ALEX GAUNA market outperform 4 M 26 12 month 27.02.2013
RBC Capital Markets DOUG FREEDMAN sector perform 3 M 24 12 month 26.02.2013
Needham & Co N QUINN BOLTON hold 3 M #N/A N/A Not Provided 26.02.2013
Lazard Capital Markets DANIEL L AMIR buy 5 M 26 12 month 26.02.2013
Raymond James HANS C MOSESMANN underperform 1 M #N/A N/A Not Provided 25.02.2013
Nomura ROMIT SHAH reduce 2 M 19 12 month 25.02.2013
Jefferies MARK J LIPACIS hold 3 M 24 12 month 22.02.2013
Hamburger Sparkasse MARCO GUENTHER buy 5 M #N/A N/A Not Provided 12.02.2013
Morgan Stanley JOSEPH MOORE Underwt/In-Line 1 M 20 12 month 31.01.2013
Crowell, Weedon & Co JAMES D RAGAN buy 5 M 26 18 month 29.01.2013
Daiwa Securities Co. Ltd. YOKO YAMADA neutral 3 M 21 Not Provided 22.01.2013
Deutsche Bank ROSS C SEYMORE buy 5 M 26 12 month 18.01.2013
Roth Capital Partners KRISHNA SHANKAR neutral 3 M 20 12 month 18.01.2013
Credit Suisse JOHN W PITZER outperform 5 M 28 Not Provided 18.01.2013
Macquarie SHAWN WEBSTER outperform 5 M 26 12 month 18.01.2013
Independent Research GmbH MARKUS FRIEBEL buy 5 M 27 12 month 18.01.2013
Oppenheimer & Co RICHARD SCHAFER market perform 3 M #N/A N/A Not Provided 18.01.2013
S&P Capital IQ ANGELO ZINO hold 3 M #N/A N/A Not Provided 18.01.2013
Holdings By:
Associated British Foods PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Land Securities Group plc is a property investment and management company. The
solutions for small and medium sized businesses, financial institutions,
consumers, and accounting professionals The Company provides software for small
business management and payroll processing, personal finance, and tax
preparation and filing.
Latest Fiscal Year: 03/2012
LTM as of: 01/yy
52-Week High (06.03.2013) 853.50
52-Week Low (30.05.2012) 700.00
Daily Volume
810.5
52-Week High % Change -4.98% Dividend Yield 3.63
52-Week Low % Change 15.86% Beta 0.92
% 52 Week Price Range High/Low 77.85% Equity Float 705.29
Shares Out 01.03.2013 781.6 Short Int -
6'334.63 1 Yr Total Return 16.76%
Total Debt 3'235.90 YTD Return 0.59%
Preferred Stock 0.0 Adjusted BETA 0.924
Minority Interest 0.2 Analyst Recs 22
Cash and Equivalents 29.70 Consensus Rating 3.409
Enterprise Value 9'511.33
Average Volume 5 Day 1'546'255
LAND LN EQUITY YTD Change - Average Volume 30 Day 1'722'932
LAND LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'549'810
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 - -
818.0 821.2 833.4 701.9 671.5 - - 551.8 593.5 - -
15.24x 4.96x 10.25x 12.87x 13.20x - - 18.46x 17.37x - -
546.4 519.1 445.7 437.6 436.5 - - 444.4 481.4 - -
22.81x 7.84x 19.16x 20.65x 20.30x - - 21.40x 19.76x - -
(830.8) (5'191.3) 1'088.9 1'241.6 522.9 - - 272.0 297.1 - -
- - 4.71x 4.52x 10.70x - - 22.83x 21.16x - -
EBITDA 436.50 Long-Term Rating Date -
EBIT 431.90 Long-Term Rating -
Operating Margin 64.32% Long-Term Outlook -
Pretax Margin 76.80% Short-Term Rating Date -
Return on Assets 2.47% Short-Term Rating -
Return on Common Equity 3.75%
Return on Capital 5.35% EBITDA/Interest Exp. 2.02
Asset Turnover 0.06% (EBITDA-Capex)/Interest Exp. 0.11
Net Debt/EBITDA 7.68
Gross Margin 64.3% Total Debt/EBITDA 7.73
EBITDA Margin 65.0%
EBIT Margin 64.3% Total Debt/Equity 45.2%
Net Income Margin 77.9% Total Debt/Capital 31.1%
Asset Turnover 0.06
Current Ratio 2.37 Net Fixed Asset Turnover 0.07
Quick Ratio 0.13 Accounts receivable turnover-days -
Debt to Assets 29.91% Inventory Days 231.09
Tot Debt to Common Equity 45.22% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 202.47
Inventory Turnover 1.58
Fiscal Year Ended
Land Securities Group PLCPrice/Volume
Valuation Analysis
760'478.00
Current Price (3/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
500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
4'000.0
4'500.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 50'151'233 6.42 - 25.03.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 41'815'572 5.35 1'066'379 01.01.2013 Government
APG ALGEMENE PENSIOE n/a RNS-MAJ 31'221'316 3.99 (1'221'618) 19.02.2013 Pension Fund (ERISA)
M&G INVESTMENT MANAG Multiple Portfolios REG 31'191'910 3.99 (102'729) 01.01.2013 Investment Advisor
ALBRIGHT INVESTMENTS n/a RNS-MAJ 31'088'858 3.98 - 29.11.2011 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 27'474'856 3.52 (736'632) 01.01.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 25'927'911 3.32 7'237'633 01.01.2013 Unclassified
PEEL HOLDINGS PLC Multiple Portfolios REG 24'519'599 3.14 (5'518) 01.01.2013 Holding Company
STATE STREET n/a ULT-AGG 23'593'792 3.02 2'395'448 26.03.2013 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios REG 14'060'503 1.8 11'464'325 01.01.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 12'891'794 1.65 912'900 01.01.2013 Investment Advisor
COHEN & STEERS CAPIT Multiple Portfolios MF-AGG 12'282'932 1.57 (1'868'121) 25.03.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 11'044'117 1.41 1'867'358 01.01.2013 Government
ING INV MANAGEMENT E Multiple Portfolios REG 10'437'413 1.34 1'524'389 01.01.2013 Investment Advisor
AXA n/a ULT-AGG 10'226'170 1.31 118'007 01.01.2013 Investment Advisor
NOMURA n/a ULT-AGG 10'028'038 1.28 (188'921) 01.01.2013 Unclassified
UBS n/a ULT-AGG 9'371'596 1.2 (170'765) 01.01.2013 Unclassified
VANGUARD GROUP INC Multiple Portfolios REG 9'330'995 1.19 496'705 01.01.2013 Investment Advisor
HENDERSON GLOBAL INV Multiple Portfolios REG 9'329'859 1.19 1'742'710 01.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 9'103'009 1.16 531'785 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale LARRY BERLIN equalweight 3 M #N/A N/A Not Provided 27.03.2013
Raymond James WAYNE JOHNSON outperform 5 M 68 12 month 26.03.2013
Wells Fargo Securities, LLC TIMOTHY W WILLI market perform 3 M #N/A N/A Not Provided 26.03.2013
Cowen and Company PETER GOLDMACHER outperform 5 M #N/A N/A Not Provided 26.03.2013
Morgan Stanley ADAM H HOLT Equalwt/In-Line 3 M #N/A N/A Not Provided 25.03.2013
Jefferies ROSS MACMILLAN hold 3 M 66 12 month 25.03.2013
Millman Research Associates MICHAEL MILLMAN hold 3 M 59 12 month 25.03.2013
Deutsche Bank THOMAS ERNST JR buy 5 M 69 12 month 22.02.2013
Goldman Sachs GREG DUNHAM neutral/attractive 3 M 67 12 month 22.02.2013
JPMorgan STERLING AUTY overweight 5 M 65 9 month 22.02.2013
Janney Montgomery Scott LLC YUN KIM buy 5 M 80 12 month 22.02.2013
Macquarie BRAD A ZELNICK neutral 3 M 62 12 month 22.02.2013
Oppenheimer & Co SCOTT A SCHNEEBERGER outperform 5 M 65 12 month 22.02.2013
Barclays RAIMO LENSCHOW equalweight 3 M 67 Not Provided 22.02.2013
Wedbush GIL B LURIA outperform 5 M 76 12 month 21.02.2013
Evercore Partners DAVID M TOGUT equalweight 3 M 64 12 month 21.02.2013
Northcoast Research KARTIK MEHTA neutral 3 M #N/A N/A Not Provided 06.02.2013
EVA Dimensions ANDREW S ZAMFOTIS overweight 5 M #N/A N/A Not Provided 15.01.2013
Pacific Crest Securities BRENDAN BARNICLE sector perform 3 M #N/A N/A Not Provided 29.04.2011
Holdings By:
Land Securities Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Marks & Spencer Group PLC is a holding company. The Company, through its
Company's surgical system controls Intuitive Surgical endoscopic instruments,
including rigid endoscopes, blunt and sharp endoscopic dissectors, scissors,
scalpels, forceps/pickups, needle holders, endoscopic retractors,
electrocautery, ultrasonic cutters, and accessories during surgical procedures.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (18.03.2013) 407.40
52-Week Low (12.07.2012) 310.60
Daily Volume
389.8
52-Week High % Change -4.39% Dividend Yield 4.36
52-Week Low % Change 25.40% Beta 0.79
% 52 Week Price Range High/Low 86.57% Equity Float 1'611.70
Shares Out 01.03.2013 1'613.5 Short Int -
6'289.34 1 Yr Total Return 6.00%
Total Debt 2'275.80 YTD Return 1.88%
Preferred Stock 0.0 Adjusted BETA 0.786
Minority Interest (11.4) Analyst Recs 28
Cash and Equivalents 456.60 Consensus Rating 2.929
Enterprise Value 8'359.54
Average Volume 5 Day 4'343'554
MKS LN EQUITY YTD Change - Average Volume 30 Day 5'804'511
MKS LN EQUITY YTD % CHANGE - Average Volume 3 Month 5'487'690
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 12/yy 12/yy 03/13 Y 03/14 Y - -
9'022.0 9'062.1 9'536.6 9'740.3 9'934.3 - - 10'038.4 10'418.2 - -
0.96x 0.75x 0.85x 0.74x 0.79x - - 0.87x 0.84x - -
1'493.9 1'138.1 1'268.9 1'289.4 1'162.8 - - 1'297.6 1'379.1 - -
5.80x 5.96x 6.37x 5.60x 6.79x - - 6.44x 6.06x - -
821.7 508.0 526.3 612.0 513.1 - - 516.9 560.6 - -
8.05x 8.21x 11.10x 8.73x 11.67x - - 12.03x 11.27x - -
EBITDA 1'162.80 Long-Term Rating Date 07.01.2009
EBIT 683.10 Long-Term Rating BBB-
Operating Margin 6.88% Long-Term Outlook STABLE
Pretax Margin 6.62% Short-Term Rating Date 03.07.2008
Return on Assets 6.52% Short-Term Rating A-3
Return on Common Equity 19.11%
Return on Capital 11.51% EBITDA/Interest Exp. 8.50
Asset Turnover 1.33% (EBITDA-Capex)/Interest Exp. 4.38
Net Debt/EBITDA 1.83
Gross Margin 37.8% Total Debt/EBITDA 2.07
EBITDA Margin 11.5%
EBIT Margin 6.7% Total Debt/Equity 81.6%
Net Income Margin 5.2% Total Debt/Capital 45.0%
Asset Turnover 1.33
Current Ratio 0.73 Net Fixed Asset Turnover 2.10
Quick Ratio 0.28 Accounts receivable turnover-days -
Debt to Assets 31.29% Inventory Days -
Tot Debt to Common Equity 81.56% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -12.05
Inventory Turnover -
Fiscal Year Ended
Marks & Spencer Group PLCPrice/Volume
Valuation Analysis
880'151.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES n/a ULT-AGG 5'776'094 14.3 482'400 31.12.2012 Investment Advisor
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 2'300'257 5.7 (77'540) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 1'860'003 4.61 - 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 1'756'880 4.35 45'236 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 1'561'366 3.87 34'594 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 1'252'626 3.1 34'047 31.12.2012 Investment Advisor
SANDS CAPITAL MANAGE SANDS CAPITAL MANAGE 13F 1'131'468 2.8 43'778 31.12.2012 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 985'936 2.44 (300'639) 31.12.2012 Investment Advisor
MARSICO CAPITAL MANA MARSICO CAPITAL MANA 13F 969'364 2.4 653'710 31.12.2012 Investment Advisor
WINSLOW CAPITAL MANA WINSLOW CAPITAL MANA 13F 936'203 2.32 295'136 31.12.2012 Investment Advisor
VIKING GLOBAL INVEST VIKING GLOBAL INVEST 13F 818'598 2.03 731'598 31.12.2012 Hedge Fund Manager
BROWN ADVISORY INC n/a ULT-AGG 748'303 1.85 74'215 31.12.2012 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 727'270 1.8 441'507 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 646'802 1.6 (382'372) 31.12.2012 Investment Advisor
EDGEWOOD MANAGEMENT EDGEWOOD MANAGEMENT 13F 575'597 1.43 66'396 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 572'264 1.42 (78'814) 31.12.2012 Unclassified
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 567'682 1.41 (12'311) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 547'562 1.36 (8'043) 31.12.2012 Investment Advisor
UBS n/a ULT-AGG 522'564 1.29 7'272 31.01.2013 Unclassified
MACKAY SHIELDS LLC Multiple Portfolios MF-AGG 521'852 1.29 (494) 31.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse DAVID R LEWIS Equalwt/In-Line 3 M #N/A N/A Not Provided 21.03.2013
Janney Montgomery Scott LLC SPENCER NAM buy 5 M 670 12 month 21.03.2013
William Blair & Co BENJAMIN C ANDREW outperform 5 M #N/A N/A Not Provided 21.03.2013
Cantor Fitzgerald JEREMY FEFFER buy 5 M 575 12 month 21.03.2013
Leerink Swann & Co RICHARD NEWITTER market perform 3 M #N/A N/A Not Provided 21.03.2013
Raymond James LAWRENCE S KEUSCH outperform 5 M 620 12 month 20.03.2013
Canaccord Genuity Corp JASON R MILLS buy 5 M 527 12 month 20.03.2013
Northland Securities Inc SURAJ KALIA underperform 1 M 400 12 month 20.03.2013
Mizuho Securities USA Inc MICHAEL S MATSON buy 5 M 636 12 month 18.03.2013
SunTrust Robinson Humphrey AMIT HAZAN buy 5 M 649 12 month 14.03.2013
JPMorgan TYCHO W PETERSON overweight 5 M 625 9 month 14.03.2013
Lazard Capital Markets SEAN D LAVIN buy 5 M 625 12 month 14.03.2013
JMP Securities J T HARESCO III market outperform 4 M 620 12 month 01.03.2013
Goldman Sachs DAVID H ROMAN Buy/Neutral 5 U 715 12 month 22.02.2013
Barrington Research CHARLES R JONES outperform 5 M 650 12 month 25.01.2013
Stifel FREDERICK A WISE hold 3 M #N/A N/A Not Provided 23.01.2013
EVA Dimensions ANDREW S ZAMFOTIS hold 3 D #N/A N/A Not Provided 23.01.2013
Holdings By:
Marks & Spencer Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
William Morrison Supermarkets plc retails groceries through a chain of
systems for the semiconductor industry. The Company's systems are used to
analyze product and process quality at critical steps in the manufacture of
circuits and provide feedback so that fabrication problems can be identified.
KLA-Tencor operates sales, service, and application centers worldwide.
Latest Fiscal Year: 01/2013
LTM as of: 12/yy
52-Week High (28.03.2012) 305.80
52-Week Low (08.02.2013) 247.50
Daily Volume
274.2
52-Week High % Change -10.37% Dividend Yield 4.30
52-Week Low % Change 10.75% Beta 0.51
% 52 Week Price Range High/Low 48.89% Equity Float 2'184.28
Shares Out 08.03.2013 2'323.5 Short Int -
6'371.02 1 Yr Total Return -6.20%
Total Debt 2'451.00 YTD Return 4.22%
Preferred Stock 0.0 Adjusted BETA 0.511
Minority Interest 0.0 Analyst Recs 26
Cash and Equivalents 270.00 Consensus Rating 2.462
Enterprise Value 8'552.02
Average Volume 5 Day 7'803'506
MRW LN EQUITY YTD Change - Average Volume 30 Day 8'533'957
MRW LN EQUITY YTD % CHANGE - Average Volume 3 Month 7'883'165
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.01.2009 31.01.2010 31.01.2011 31.01.2012 31.01.2013 12/yy 12/yy 01/14 Y 01/15 Y - -
14'528.0 15'410.0 16'479.0 17'663.0 18'116.0 - - 18'101.3 18'644.4 - -
0.54x 0.56x 0.48x 0.50x 0.47x - - 0.49x 0.49x - -
961.0 1'209.0 1'224.0 1'314.0 1'318.0 - - 1'293.5 1'341.5 - -
8.16x 7.10x 6.40x 6.76x 6.49x - - 6.61x 6.38x - -
460.0 598.0 632.0 690.0 647.0 - - 609.9 628.6 - -
15.57x 12.68x 11.03x 10.97x 9.45x - - 10.51x 10.16x - -
EBITDA 1'318.00 Long-Term Rating Date -
EBIT 950.00 Long-Term Rating -
Operating Margin 5.24% Long-Term Outlook -
Pretax Margin 4.85% Short-Term Rating Date -
Return on Assets 6.35% Short-Term Rating -
Return on Common Equity 12.18%
Return on Capital 9.49% EBITDA/Interest Exp. 14.64
Asset Turnover 1.78% (EBITDA-Capex)/Interest Exp. 5.24
Net Debt/EBITDA 1.65
Gross Margin 6.7% Total Debt/EBITDA 1.86
EBITDA Margin 7.3%
EBIT Margin 5.2% Total Debt/Equity 46.9%
Net Income Margin 3.6% Total Debt/Capital 31.9%
Asset Turnover 1.78
Current Ratio 0.57 Net Fixed Asset Turnover 2.14
Quick Ratio 0.19 Accounts receivable turnover-days 3.68
Debt to Assets 23.28% Inventory Days 16.89
Tot Debt to Common Equity 46.86% Accounts Payable Turnover Day 31.88
Accounts Receivable Turnover 100.92 Cash Conversion Cycle -11.31
Inventory Turnover 21.96
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
WM Morrison Supermarkets PLCPrice/Volume
Valuation Analysis
1'391'417.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESCO LTD n/a ULT-AGG 22'627'316 13.62 (370'332) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 15'847'397 9.54 - 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 10'207'414 6.14 (735'483) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 7'117'585 4.28 2'028'630 31.12.2012 Unclassified
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 6'915'022 4.16 337'635 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 6'903'570 4.16 126'226 25.03.2013 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 5'050'800 3.04 (79'000) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 4'192'094 2.52 (1'402'932) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 3'012'005 1.81 (321'290) 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 2'636'341 1.59 (2'104'992) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 2'625'824 1.58 100'118 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 2'528'135 1.52 (507'988) 31.12.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 2'300'784 1.38 376'200 31.12.2012 Hedge Fund Manager
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 2'272'086 1.37 29'564 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 1'796'300 1.08 - 31.12.2012 Hedge Fund Manager
CITADEL ADVISORS LLC CITADEL ADVISORS LLC 13F 1'708'804 1.03 1'702'853 31.12.2012 Hedge Fund Manager
CLEARBRIDGE INVESTME CLEARBRIDGE INVESTME 13F 1'665'757 1 793'685 31.12.2012 Investment Advisor
EPOCH INVESTMENT PAR EPOCH INVESTMENT PAR 13F 1'545'691 0.93 100'773 31.12.2012 Hedge Fund Manager
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 1'537'676 0.93 157'204 31.12.2012 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 1'478'800 0.89 105'700 31.12.2012 Insurance Company
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies EDWIN MOK buy 5 N 61 12 month 26.03.2013
Exane BNP Paribas JEROME RAMEL outperform 5 M 65 Not Provided 26.03.2013
B Riley & Company, Inc BEN PANG buy 5 M 66 Not Provided 21.03.2013
RBC Capital Markets MAHESH SANGANERIA outperform 5 M 60 12 month 15.03.2013
Piper Jaffray JAGADISH IYER overweight 5 M 62 12 month 15.03.2013
Stifel PATRICK J HO buy 5 M 58 12 month 26.02.2013
Pacific Crest Securities WESTON TWIGG outperform 5 M 61 12 month 25.02.2013
Susquehanna Financial Group MEHDI HOSSEINI neutral 3 M 50 12 month 13.02.2013
Goldman Sachs JAMES V COVELLO Sell/Neutral 1 M 50 12 month 07.02.2013
Cowen and Company TIMOTHY M ARCURI neutral 3 N #N/A N/A Not Provided 04.02.2013
Deutsche Bank VISHAL SHAH hold 3 U 56 12 month 25.01.2013
Credit Suisse SATYA KUMAR outperform 5 M 63 Not Provided 25.01.2013
Credit Agricole Securities (USA) MARK HELLER buy 5 M 62 Not Provided 25.01.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013
S&P Capital IQ ANGELO ZINO buy 5 R 57 12 month 26.10.2012
First Global Stockbroking ISHANSH VIJ market perform 3 M #N/A N/A Not Provided 05.02.2011
Holdings By:
WM Morrison Supermarkets PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Burberry Group PLC is a global luxury brand with British heritage, core
packaged food and beverages for North American Grocery stores. Kraft Foods
offers a wide range of branded beverages, cheese, grocery products and
convenient meals.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (16.04.2012) 1'605.00
52-Week Low (10.10.2012) 998.00
Daily Volume
1335
52-Week High % Change -16.95% Dividend Yield 1.95
52-Week Low % Change 33.57% Beta 1.30
% 52 Week Price Range High/Low 56.01% Equity Float 440.14
Shares Out 28.02.2013 442.1 Short Int -
5'902.09 1 Yr Total Return -12.51%
Total Debt 208.60 YTD Return 8.73%
Preferred Stock 0.0 Adjusted BETA 1.298
Minority Interest 24.1 Analyst Recs 29
Cash and Equivalents 546.90 Consensus Rating 3.345
Enterprise Value 5'689.59
Average Volume 5 Day 1'695'706
BRBY LN EQUITY YTD Change - Average Volume 30 Day 1'179'814
BRBY LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'275'263
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 12/yy 12/yy 03/13 Y 03/14 Y 03/13 Q4 06/13 Q1
995.4 1'201.5 1'185.1 1'501.3 1'857.2 0.0 9'100.0 1'977.3 2'277.2 477.7 430.7
2.02x 1.01x 2.41x 3.22x 3.37x #DIV/0! 3.93x 2.86x 2.43x - -
233.9 215.6 272.1 363.8 468.1 0.0 898.0 511.3 583.1 - -
8.61x 5.65x 10.51x 13.30x 13.36x 0.00x 0.00x 11.14x 9.76x - -
135.2 (6.0) 81.4 208.4 263.3 0.0 560.0 287.5 340.2 - -
14.40x - 20.36x 23.81x 24.78x 0.00x 0.00x 19.97x 17.49x - -
EBITDA 468.10 Long-Term Rating Date -
EBIT 380.50 Long-Term Rating -
Operating Margin 20.49% Long-Term Outlook -
Pretax Margin 19.71% Short-Term Rating Date -
Return on Assets 15.00% Short-Term Rating -
Return on Common Equity 28.54%
Return on Capital 24.66% EBITDA/Interest Exp. 33.92
Asset Turnover 1.24% (EBITDA-Capex)/Interest Exp. 24.78
Net Debt/EBITDA -0.67
Gross Margin 69.9% Total Debt/EBITDA 0.40
EBITDA Margin 18.5%
EBIT Margin 13.5% Total Debt/Equity 24.1%
Net Income Margin 14.2% Total Debt/Capital 19.0%
Asset Turnover 1.24
Current Ratio 1.68 Net Fixed Asset Turnover 5.69
Quick Ratio 1.08 Accounts receivable turnover-days 30.04
Debt to Assets 12.95% Inventory Days 228.26
Tot Debt to Common Equity 24.05% Accounts Payable Turnover Day 78.35
Accounts Receivable Turnover 12.19 Cash Conversion Cycle 141.12
Inventory Turnover 1.60
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
Burberry Group PLCPrice/Volume
Valuation Analysis
356'118.00
Current Price (3/dd/yy) Market Data
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0.0
2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
16'000.0
18'000.0
20'000.0
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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 43'198'349 9.77 - 25.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 40'656'191 9.2 5'197'500 19.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 37'533'086 8.49 (10'172'288) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 29'240'776 6.61 791'494 30.11.2012 Unclassified
AMERIPRISE FINANCIAL n/a Co File 21'664'800 4.9 - 22.05.2012 Investment Advisor
THORNBURG INVESTMENT n/a RNS-MAJ 19'912'489 4.5 - 10.01.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 19'396'137 4.39 924'834 01.11.2012 Unclassified
SCHRODER INVESTMENT Multiple Portfolios REG 12'469'746 2.82 (935'463) 01.11.2012 Investment Advisor
JENNISON ASSOCIATES Multiple Portfolios REG 11'034'562 2.5 (1'800'361) 01.11.2012 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 10'187'956 2.3 143'568 01.11.2012 Government
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 10'063'862 2.28 381'440 31.01.2013 Investment Advisor
BAILLIE GIFFORD AND Multiple Portfolios REG 9'716'174 2.2 4'801'296 01.11.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 9'559'824 2.16 2'322'973 30.11.2012 Unclassified
OPPENHEIMERFUNDS INC Multiple Portfolios REG 9'147'718 2.07 6'080'394 01.11.2012 Investment Advisor
WALTER SCOTT & PARTN Multiple Portfolios REG 8'033'235 1.82 40'235 01.11.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 7'787'637 1.76 (703'649) 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 7'512'410 1.7 243'473 31.12.2012 Investment Advisor
MERRILL LYNCH & COMP Multiple Portfolios REG 6'696'720 1.51 27'992 01.11.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 6'519'326 1.47 477'091 01.11.2012 Government
CREDIT AGRICOLE GROU Multiple Portfolios REG 5'169'361 1.17 769'776 01.11.2012 Bank
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale ALICIA FORRY buy 5 M 56 12 month 27.03.2013
EVA Dimensions AUSTIN BURKETT hold 3 D #N/A N/A Not Provided 22.03.2013
Credit Agricole Securities (USA) DIANE GEISSLER outperform 5 M 54 Not Provided 20.03.2013
Goldman Sachs JASON ENGLISH neutral/neutral 3 M 51 12 month 17.03.2013
Sanford C. Bernstein & Co ALEXIA HOWARD market perform 3 M 47 12 month 14.03.2013
BMO Capital Markets KENNETH B ZASLOW outperform 5 M 53 Not Provided 13.03.2013
Edward Jones BRIAN YARBROUGH hold 3 M #N/A N/A Not Provided 12.03.2013
RBC Capital Markets EDWARD AARON outperform 5 M 50 12 month 11.03.2013
Argus Research Corp JOHN D STASZAK hold 3 M #N/A N/A Not Provided 07.03.2013
Stifel CHRISTOPHER R GROWE buy 5 M 49 Not Provided 07.03.2013
Jefferies THILO WREDE buy 5 M 52 12 month 01.03.2013
Davenport & Co ANN H GURKIN buy 5 M 53 12 month 27.02.2013
Janney Montgomery Scott LLC JONATHAN P FEENEY neutral 3 M 46 12 month 21.02.2013
CL King & Associates ERIC J LARSON buy 5 M 50 12 month 19.02.2013
Morgan Stanley MATTHEW GRAINGER Equalwt/In-Line 3 M 47 12 month 18.02.2013
Deutsche Bank ERIC R KATZMAN hold 3 M 46 12 month 16.02.2013
Credit Suisse ROBERT MOSKOW outperform 5 M 50 Not Provided 15.02.2013
JPMorgan KENNETH GOLDMAN neutral 3 M 49 9 month 15.02.2013
Barclays ANDREW LAZAR overweight 5 M 51 Not Provided 15.02.2013
S&P Capital IQ THOMAS GRAVES hold 3 M 46 12 month 16.10.2012
Holdings By:
Burberry Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Royal Bank of Scotland Group plc, through subsidiaries, accepts deposits and
companies operating outside the continental United States, principally in
Europe, Asia, and Latin America.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (28.01.2013) 369.60
52-Week Low (24.07.2012) 193.30
Daily Volume
283.2
52-Week High % Change -24.27% Dividend Yield 0.00
52-Week Low % Change 44.80% Beta 1.68
% 52 Week Price Range High/Low 52.58% Equity Float 2'112.27
Shares Out 28.02.2013 6'077.9 Short Int 0.30
31'655.69 1 Yr Total Return -2.37%
Total Debt 316'688.00 YTD Return -13.74%
Preferred Stock 0.0 Adjusted BETA 1.685
Minority Interest 2'318.0 Analyst Recs 32
Cash and Equivalents 108'458.00 Consensus Rating 2.906
Enterprise Value -
Average Volume 5 Day 13'003'730
RBS LN EQUITY YTD Change - Average Volume 30 Day 13'867'430
RBS LN EQUITY YTD % CHANGE - Average Volume 3 Month 12'037'890
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
54'331.0 40'844.0 37'526.0 34'247.0 28'263.0 9'510.8 10'310.8 22'796.6 21'051.6 5'901.0 5'359.0
- - - - - 13.73x 14.84x - - - -
- - - - - 4'262.9 4'757.2 - - - -
- - - - - 8.10x 8.76x - - - -
(23'710.0) (2'672.0) (1'001.0) (1'997.0) (5'971.0) (772.7) 322.8 2'442.7 3'518.8 - -
- - - - - 0.00x 0.00x 12.53x 8.69x 11.19x -
EBITDA - Long-Term Rating Date 29.11.2011
EBIT - Long-Term Rating A-
Operating Margin 28.75% Long-Term Outlook STABLE
Pretax Margin -24.44% Short-Term Rating Date 29.11.2011
Return on Assets -0.42% Short-Term Rating A-2
Return on Common Equity -8.35%
Return on Capital -1.37% EBITDA/Interest Exp. -
Asset Turnover 0.02% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 464.8%
Net Income Margin -28.3% Total Debt/Capital 81.8%
Asset Turnover 0.02
Current Ratio - Net Fixed Asset Turnover 2.49
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 24.13% Inventory Days -
Tot Debt to Common Equity 464.83% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Royal Bank of Scotland Group PLCPrice/Volume
Valuation Analysis
12'196'971.00
Current Price (3/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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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
UNITED KINGDOM GOVER n/a ULT-AGG 10'240'573 7.25 - 25.03.2013 Investment Advisor
COATUE MANAGEMENT LL n/a 13G 8'584'691 6.07 1'720'594 05.02.2013 Hedge Fund Manager
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 8'102'429 5.73 3'593'100 31.12.2012 Investment Advisor
COMCAST CORP n/a 13G/PRXY 7'681'369 5.43 - 31.03.2012 Corporation
CASCADE INVESTMENT L n/a 13G 7'381'014 5.22 - 16.06.2011 Investment Advisor
BLUE RIDGE CAPITAL L BLUE RIDGE CAPITAL L 13F 3'900'000 2.76 - 31.12.2012 Hedge Fund Manager
DODGE & COX DODGE & COX 13F 3'758'684 2.66 (43'700) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 3'672'844 2.6 (1'999'643) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 3'626'082 2.57 1'474'161 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 3'605'167 2.55 (1'229'118) 25.03.2013 Investment Advisor
MARSICO CAPITAL MANA MARSICO CAPITAL MANA 13F 2'958'710 2.09 191'797 31.12.2012 Investment Advisor
MARATHON ASSET MANAG MARATHON ASSET MANAG 13F 2'655'038 1.88 (1'516'764) 31.12.2012 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 2'635'034 1.86 57'469 31.12.2012 Investment Advisor
ETON PARK CAPITAL MA ETON PARK CAPITAL MA 13F 2'471'200 1.75 - 31.12.2012 Hedge Fund Manager
MAVERICK CAPITAL LTD MAVERICK CAPITAL LTD 13F 2'385'018 1.69 897'807 31.12.2012 Hedge Fund Manager
TIGER GLOBAL MANAGEM TIGER GLOBAL MANAGEM 13F 2'300'000 1.63 (3'950'000) 31.12.2012 Hedge Fund Manager
SLEEP, ZAKARIA & CO SLEEP, ZAKARIA & CO 13F 2'210'000 1.56 - 31.12.2012 Hedge Fund Manager
GATES FOUNDATION BILL & MELINDA FOUND 13F 2'119'515 1.5 - 31.12.2012 Endowment
NORGES BANK NORGES BANK 13F 2'056'197 1.45 (209'351) 31.12.2012 Government
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 1'872'138 1.32 187'404 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Berenberg Bank MATTHEW HARRIGAN buy 5 M 84 18 month 26.03.2013
ISI Group VIJAY JAYANT strong buy 5 M 85 12 month 25.03.2013
Evercore Partners BRYAN KRAFT overweight 5 M 83 12 month 07.03.2013
Pivotal Research Group LLC JEFFREY WLODARCZAK buy 5 M 88 12 month 06.03.2013
Barclays MICHAEL BISHOP overweight 5 M 76 Not Provided 26.02.2013
HSBC NICOLAS COTE-COLISSON overweight 5 M 80 Not Provided 15.02.2013
Morgan Stanley BENJAMIN SWINBURNE not rated #N/A N/A M #N/A N/A Not Provided 14.02.2013
Stifel CHRISTOPHER C KING buy 5 M 80 12 month 14.02.2013
Goldman Sachs TIMOTHY BODDY not rated #N/A N/A M #N/A N/A Not Provided 05.02.2013
JPMorgan DANIEL X MORRIS restricted #N/A N/A M #N/A N/A Not Provided 05.02.2013
Credit Suisse JUSTIN FUNNELL outperform 5 M 65 Not Provided 21.01.2013
EVA Dimensions CRAIG STERLING sell 1 M #N/A N/A Not Provided 15.01.2013
Nomura HENRIK NYBLOM buy 5 M 67 12 month 14.12.2012
Holdings By:
Royal Bank of Scotland Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Capita PLC provides an integrated range of services across the United
businesses. The Company owns interests in home shopping television networks
and lifestyle and travel services Internet websites.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.03.2013) 915.00
52-Week Low (23.05.2012) 600.00
Daily Volume
888.5
52-Week High % Change -3.01% Dividend Yield 2.65
52-Week Low % Change 47.92% Beta 0.71
% 52 Week Price Range High/Low 95.87% Equity Float 652.75
Shares Out 01.03.2013 655.3 Short Int -
5'822.57 1 Yr Total Return 22.08%
Total Debt 1'661.20 YTD Return 17.55%
Preferred Stock 0.0 Adjusted BETA 0.713
Minority Interest 0.0 Analyst Recs 25
Cash and Equivalents 327.90 Consensus Rating 3.000
Enterprise Value 7'155.87
Average Volume 5 Day 1'338'871
CPI LN EQUITY YTD Change - Average Volume 30 Day 1'596'869
CPI LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'391'321
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
2'441.4 2'686.8 2'744.0 2'930.2 3'351.8 - - 3'789.3 4'092.2 - -
2.25x 2.04x 2.01x 1.91x 1.87x - - 1.82x 1.65x - -
371.9 382.1 504.0 567.8 639.9 - - 599.1 647.8 - -
14.77x 14.34x 10.97x 9.87x 9.81x - - 11.95x 11.05x - -
165.8 188.9 235.0 238.0 236.0 - - 362.4 388.1 - -
27.08x 24.42x 18.12x 16.05x 20.36x - - 15.78x 14.47x - -
EBITDA 639.90 Long-Term Rating Date -
EBIT 471.70 Long-Term Rating -
Operating Margin 14.07% Long-Term Outlook -
Pretax Margin 8.65% Short-Term Rating Date -
Return on Assets 6.38% Short-Term Rating -
Return on Common Equity 33.66%
Return on Capital 11.41% EBITDA/Interest Exp. 13.91
Asset Turnover 0.91% (EBITDA-Capex)/Interest Exp. 11.83
Net Debt/EBITDA 2.08
Gross Margin 28.1% Total Debt/EBITDA 2.60
EBITDA Margin 19.1%
EBIT Margin 14.1% Total Debt/Equity 189.2%
Net Income Margin 7.0% Total Debt/Capital 65.4%
Asset Turnover 0.91
Current Ratio 0.99 Net Fixed Asset Turnover 9.74
Quick Ratio 0.26 Accounts receivable turnover-days -
Debt to Assets 43.00% Inventory Days -
Tot Debt to Common Equity 189.18% 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
Capita PLCPrice/Volume
Valuation Analysis
196'323.00
Current Price (3/dd/yy) Market Data
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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESCO LTD DODGE & COX 13F 27'022'608 5.27 (2'943'360) 31.12.2012 Investment Advisor
BROWN BROTHERS HARRI BROWN BROTHERS HARRI 13F 24'681'853 4.81 386'568 31.12.2012 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 24'537'419 4.79 4'061'744 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 23'246'941 4.53 17'945'695 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 19'991'838 3.9 (508'478) 25.03.2013 Investment Advisor
HARRIS ASSOCIATES LP HARRIS ASSOC LP 13F 19'739'481 3.85 306'458 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 19'730'463 3.85 551'860 31.12.2012 Investment Advisor
CLEARBRIDGE INVESTME CLEARBRIDGE INVESTME 13F 14'068'260 2.74 (655'318) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 12'733'184 2.48 (365'600) 31.12.2012 Investment Advisor
DAVIS SELECTED ADVIS DAVIS SELECTED ADVIS 13F 10'769'953 2.1 (626'635) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 10'459'416 2.04 159'159 31.12.2012 Investment Advisor
MERITAGE GROUP LP MERITAGE GROUP LP 13F 10'164'241 1.98 2'540'365 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 9'677'945 1.89 1'433'223 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 7'624'453 1.49 2'889'408 31.12.2012 Investment Advisor
UNITED STATES STEEL UNITED STATES STEEL 13F 6'752'704 1.32 - 31.12.2012 Pension Fund (ERISA)
PRINCIPAL FINANCIAL n/a ULT-AGG 6'387'620 1.25 444'143 31.12.2012 Investment Advisor
SAC CAPITAL ADVISORS SAC CAPITAL ADVISORS 13F 6'286'911 1.23 4'950'027 31.12.2012 Hedge Fund Manager
HORIZON KINETICS n/a ULT-AGG 6'114'848 1.19 1'036'740 31.12.2012 Investment Advisor
FPR PARTNERS LLC FPR PARTNERS LLC 13F 5'979'990 1.17 320'700 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 5'766'417 1.12 (586'668) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Panmure Gordon & Co Limited CRAIG STERLING sell 1 D #N/A N/A Not Provided 25.03.2013
Lazard Capital Markets BARTON CROCKETT buy 5 M 24 12 month 12.03.2013
Morgan Stanley DAVID GOBER Equalwt/In-Line 3 M #N/A N/A Not Provided 05.03.2013
Stifel BENJAMIN MOGIL buy 5 M 23 12 month 05.03.2013
Wunderlich Securities MATTHEW HARRIGAN buy 5 M 28 18 month 28.02.2013
Wells Fargo Securities, LLC MATTHEW NEMER market perform 3 M #N/A N/A Not Provided 28.02.2013
Telsey Advisory Group THOMAS FORTE no rating system #N/A N/A M 25 12 month 28.02.2013
Topeka Capital Markets Inc VICTOR ANTHONY buy 5 M 27 12 month 28.02.2013
Wedge Partners MARTIN PYYKKONEN no rating system #N/A N/A M #N/A N/A Not Provided 07.11.2012
Holdings By:
Capita PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Intertek Group plc offers product inspection services. The Company tests
The Company offers a broad range of products and services, including systems,
instruments, reagents, and custom services. Life's portfolio of products
includes technologies for capillary electrophoresis based sequencing,
sequencing, mass spectrometry sample preparation, and cell culture.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (04.03.2013) 3'509.00
52-Week Low (09.05.2012) 2'382.00
Daily Volume
3355
52-Week High % Change -4.36% Dividend Yield 1.22
52-Week Low % Change 40.89% Beta 0.69
% 52 Week Price Range High/Low 90.42% Equity Float 160.20
Shares Out 05.03.2013 160.8 Short Int -
5'395.40 1 Yr Total Return 35.66%
Total Debt 717.20 YTD Return 8.29%
Preferred Stock 0.0 Adjusted BETA 0.691
Minority Interest 25.3 Analyst Recs 25
Cash and Equivalents 166.50 Consensus Rating 3.480
Enterprise Value 5'971.40
Average Volume 5 Day 333'953
ITRK LN EQUITY YTD Change - Average Volume 30 Day 351'479
ITRK LN EQUITY YTD % CHANGE - Average Volume 3 Month 323'030
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
1'003.5 1'237.3 1'374.2 1'749.4 2'054.3 - - 2'279.9 2'475.1 - -
1.56x 1.79x 2.20x 2.21x 2.71x - - 2.56x 2.31x - -
204.8 260.4 274.9 319.6 379.4 - - 456.8 509.0 - -
7.62x 8.49x 11.00x 12.09x 14.65x - - 13.07x 11.73x - -
93.8 114.7 128.6 138.8 173.8 - - 243.4 277.1 - -
13.18x 17.33x 21.99x 23.44x 28.64x - - 22.09x 19.53x - -
EBITDA 379.40 Long-Term Rating Date 23.10.2006
EBIT 283.30 Long-Term Rating NR
Operating Margin 13.79% Long-Term Outlook -
Pretax Margin 12.49% Short-Term Rating Date -
Return on Assets 9.73% Short-Term Rating -
Return on Common Equity 30.17%
Return on Capital 15.91% EBITDA/Interest Exp. 11.09
Asset Turnover 1.15% (EBITDA-Capex)/Interest Exp. 7.73
Net Debt/EBITDA 1.45
Gross Margin - Total Debt/EBITDA 1.89
EBITDA Margin 18.5%
EBIT Margin 13.8% Total Debt/Equity 113.9%
Net Income Margin 8.5% Total Debt/Capital 52.3%
Asset Turnover 1.15
Current Ratio 1.68 Net Fixed Asset Turnover 7.24
Quick Ratio 1.30 Accounts receivable turnover-days 60.82
Debt to Assets 39.08% Inventory Days -
Tot Debt to Common Equity 113.91% Accounts Payable Turnover Day -
Accounts Receivable Turnover 6.02 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Intertek Group PLCPrice/Volume
Valuation Analysis
84'093.00
Current Price (3/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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1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
4'000.0
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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL GROUP COMPAN n/a ULT-AGG 10'818'828 6.73 - 31.12.2012 Investment Advisor
MARATHON ASSET MANAG n/a Research 10'387'486 6.46 - 01.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 10'375'838 6.45 (2'559'673) 31.01.2013 Investment Advisor
MORGAN STANLEY INVES Multiple Portfolios REG 9'127'492 5.68 (2'298'044) 01.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 8'053'997 5.01 - 25.03.2013 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 7'192'178 4.47 245'261 31.01.2013 Investment Advisor
Cantillon Capital Multiple Portfolios REG 6'727'263 4.18 (401'459) 01.12.2012 Unclassified
MORGAN STANLEY n/a ULT-AGG 6'696'993 4.16 (952'125) 31.01.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 6'372'856 3.96 93'400 28.02.2013 Unclassified
BAILLIE GIFFORD AND Multiple Portfolios REG 4'422'134 2.75 165'944 01.12.2012 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 3'783'142 2.35 (261'390) 31.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 3'760'277 2.34 32'944 01.12.2012 Government
WALTER SCOTT & PARTN Multiple Portfolios REG 3'103'000 1.93 270'000 01.12.2012 Investment Advisor
UBS n/a ULT-AGG 2'428'398 1.51 857'375 31.01.2013 Unclassified
T ROWE PRICE ASSOCIA Multiple Portfolios REG 2'352'943 1.46 (6'381) 01.12.2012 Investment Advisor
CREDIT AGRICOLE GROU Multiple Portfolios REG 2'263'914 1.41 (288'049) 01.12.2012 Bank
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 2'172'981 1.35 (102'985) 31.12.2012 Investment Advisor
SANFORD C BERNSTEIN Multiple Portfolios MF-AGG 2'117'053 1.32 87'638 30.11.2012 Investment Advisor
KUWAIT INVESTMENT AU Multiple Portfolios REG 2'109'219 1.31 514'940 01.12.2012 Government
SCOTTISH WIDOWS n/a ULT-AGG 2'017'834 1.25 346'640 01.12.2012 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse DOUG SCHENKEL neutral 3 M #N/A N/A Not Provided 25.03.2013
Edward Jones MATTHEW D COLLINS hold 3 M #N/A N/A Not Provided 22.03.2013
EVA Dimensions ANDREW S ZAMFOTIS hold 3 U #N/A N/A Not Provided 11.03.2013
Mizuho Securities USA Inc PETER R LAWSON neutral 3 M 60 12 month 07.03.2013
Leerink Swann & Co DANIEL L LEONARD market perform 3 M #N/A N/A Not Provided 05.03.2013
William Blair & Co AMANDA MURPHY market perform 3 M #N/A N/A Not Provided 25.02.2013
Cantor Fitzgerald SUNG JI NAM hold 3 M 58 12 month 25.02.2013
Oppenheimer & Co DAVID FERREIRO outperform 5 M 67 18 month 24.02.2013
Piper Jaffray WILLIAM R QUIRK neutral 3 M 63 12 month 22.02.2013
Macquarie JONATHAN P GROBERG outperform 5 M 66 12 month 06.02.2013
Wallachbeth Capital LLC DIFEI YANG buy 5 M 74 12 month 06.02.2013
Morgan Stanley DANIEL BRENNAN Equalwt/In-Line 3 M #N/A N/A Not Provided 05.02.2013
Goldman Sachs ISAAC RO Sell/Neutral 1 M 48 12 month 05.02.2013
Credit Suisse VAMIL DIVAN outperform 5 M 69 Not Provided 05.02.2013
First Analysis Corp GREG CHODACZEK equalweight 3 M 45 12 month 05.02.2013
JPMorgan TYCHO W PETERSON neutral 3 M 64 9 month 05.02.2013
Robert W. Baird & Co JEFF T ELLIOTT outperform 5 M 66 12 month 05.02.2013
Maxim Group LLC BRYAN BROKMEIER buy 5 M 75 12 month 05.02.2013
Credit Agricole Securities (USA) PAUL R KNIGHT outperform 5 D 74 Not Provided 05.02.2013
Barclays CHARLES ANTHONY BUTLER equalweight 3 M 60 Not Provided 05.02.2013
ISI Group ROSS MUKEN neutral 3 U 65 12 month 04.02.2013
Jefferies JON WOOD buy 5 M 58 12 month 18.01.2013
S&P Capital IQ JEFFREY LOO buy 5 M #N/A N/A Not Provided 02.10.2012
Holdings By:
Intertek Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
InterContinental Hotels Group PLC operates a global hotel business comprised of
linear integrated circuits. The Company's products include high performance
amplifiers, comparators, voltage references, monolithic filters, linear
regulators, DC-DC converters, battery chargers, data converters, communications
interface circuits, and RF signal conditioning circuits.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (12.03.2013) 2'044.00
52-Week Low (21.05.2012) 1'386.62
Daily Volume
1955
52-Week High % Change -4.40% Dividend Yield 2.17
52-Week Low % Change 40.92% Beta 1.16
% 52 Week Price Range High/Low 85.09% Equity Float 260.03
Shares Out 28.02.2013 268.4 Short Int 0.27
5'247.21 1 Yr Total Return 38.09%
Total Debt 1'258.00 YTD Return 16.08%
Preferred Stock 0.0 Adjusted BETA 1.156
Minority Interest 9.0 Analyst Recs 29
Cash and Equivalents 201.00 Consensus Rating 3.655
Enterprise Value 8'991.13
Average Volume 5 Day 734'662
IHG LN EQUITY YTD Change - Average Volume 30 Day 936'870
IHG LN EQUITY YTD % CHANGE - Average Volume 3 Month 852'277
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
1'897.0 1'538.0 1'628.0 1'768.0 1'835.0 1'336.0 1'282.8 1'937.6 2'034.6 425.5 490.0
1.90x 3.40x 3.88x 3.24x 4.63x 20.77x 22.14x 4.75x 4.44x 21.25x 18.50x
661.0 472.0 552.0 658.0 708.0 706.1 636.2 769.8 821.0 150.0 207.0
5.47x 11.06x 11.46x 8.71x 12.00x 9.36x 11.54x 11.68x 10.95x 11.72x 11.51x
262.0 213.0 293.0 460.0 544.0 496.1 395.8 420.6 448.2 259.0 284.0
9.15x 19.86x 19.19x 11.27x 14.63x 13.90x 20.00x 18.64x 17.17x 9.36x 10.39x
EBITDA 708.00 Long-Term Rating Date 22.06.2011
EBIT 614.00 Long-Term Rating BBB
Operating Margin 33.46% Long-Term Outlook STABLE
Pretax Margin 30.30% Short-Term Rating Date 18.02.2005
Return on Assets 17.46% Short-Term Rating NR
Return on Common Equity 127.25%
Return on Capital 42.60% EBITDA/Interest Exp. 12.42
Asset Turnover 0.59% (EBITDA-Capex)/Interest Exp. 11.65
Net Debt/EBITDA 1.49
Gross Margin 57.9% Total Debt/EBITDA 1.78
EBITDA Margin 38.6%
EBIT Margin 33.5% Total Debt/Equity 408.4%
Net Income Margin 29.6% Total Debt/Capital 79.9%
Asset Turnover 0.59
Current Ratio 0.85 Net Fixed Asset Turnover 1.52
Quick Ratio 0.70 Accounts receivable turnover-days 64.12
Debt to Assets 38.55% Inventory Days 1.90
Tot Debt to Common Equity 408.44% Accounts Payable Turnover Day 57.60
Accounts Receivable Turnover 5.71 Cash Conversion Cycle 8.42
Inventory Turnover 193.00
Fiscal Year Ended
InterContinental Hotels Group PLCPrice/Volume
Valuation Analysis
183'426.00
Current Price (3/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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200.0
400.0
600.0
800.0
1'000.0
1'200.0
1'400.0
1'600.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN n/a ULT-AGG 28'051'250 12.06 (2'505'250) 31.12.2012 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 17'490'900 7.52 - 31.12.2012 Insurance Company
VANGUARD GROUP INC VANGUARD GROUP INC 13F 15'279'740 6.57 23'904 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 14'457'182 6.22 (1'018'036) 31.12.2012 Hedge Fund Manager
STATE FARM MUTUAL AU STATE FARM MUTUAL AU Sch-D 13'355'946 5.74 1'493 30.09.2012 Insurance Company
BLACKROCK n/a ULT-AGG 13'149'330 5.65 (19'937) 25.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 9'811'143 4.22 101'134 25.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 8'233'100 3.54 652'100 31.12.2012 Hedge Fund Manager
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 6'790'653 2.92 294'543 31.12.2012 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 6'644'258 2.86 6'017'757 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 5'525'424 2.38 373'526 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'969'889 1.71 (3'419'188) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 3'918'427 1.68 475'836 31.12.2012 Unclassified
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 3'376'310 1.45 (62'075) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'328'502 1.43 83'206 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 2'833'058 1.22 (425'282) 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 2'826'455 1.22 (97'291) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 2'714'529 1.17 1'073'440 31.12.2012 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 2'524'415 1.09 412'780 31.01.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 1'861'718 0.8 251'633 31.12.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Panmure Gordon & Co Limited AMBRISH SRIVASTAVA market perform 3 M 35 Not Provided 25.03.2013
Wells Fargo Securities, LLC DAVID M WONG outperform 5 M #N/A N/A Not Provided 25.03.2013
MKM Partners DANIEL A BERENBAUM neutral 3 M 33 12 month 22.03.2013
Longbow Research JOANNE FEENEY buy 5 M 42 12 month 20.03.2013
SunTrust Robinson Humphrey WILLIAM STEIN neutral 3 N 36 12 month 12.03.2013
ISI Group SUMIT DHANDA strong buy 5 M 43 12 month 11.03.2013
Stifel TORE E SVANBERG buy 5 M 42 12 month 20.02.2013
Drexel Hamilton LLC RICHARD WHITTINGTON buy 5 M 45 12 month 13.02.2013
Deutsche Bank ROSS C SEYMORE hold 3 M 33 12 month 17.01.2013
Credit Suisse JOHN W PITZER outperform 5 M 40 Not Provided 17.01.2013
JPMorgan CHRISTOPHER DANELY underweight 1 M 25 9 month 17.01.2013
Raymond James J STEVEN SMIGIE underperform 1 M #N/A N/A Not Provided 17.01.2013
Macquarie SHAWN WEBSTER outperform 5 M 37 12 month 17.01.2013
Susquehanna Financial Group CHRISTOPHER CASO neutral 3 M 35 12 month 17.01.2013
Morgan Stanley JOSEPH MOORE Equalwt/In-Line 3 M #N/A N/A Not Provided 16.01.2013
Goldman Sachs JAMES V COVELLO neutral/attractive 3 M 35 12 month 16.01.2013
Jefferies MARK J LIPACIS hold 3 M 38 12 month 16.01.2013
Pacific Crest Securities MICHAEL MCCONNELL underperform 1 M #N/A N/A Not Provided 16.01.2013
B Riley & Company, Inc CRAIG ELLIS neutral 3 M 34 Not Provided 16.01.2013
Oppenheimer & Co RICHARD SCHAFER outperform 5 M 43 18 month 16.01.2013
Nomura ROMIT SHAH neutral 3 M 30 12 month 16.01.2013
Piper Jaffray AUGUSTE P RICHARD overweight 5 M 39 12 month 16.01.2013
EVA Dimensions ANDREW S ZAMFOTIS overweight 5 M #N/A N/A Not Provided 15.01.2013
Holdings By:
InterContinental Hotels Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
J Sainsbury plc retails food. The Company operates Sainsbury supermarkets in
toy products on a worldwide basis. The Company sells its products to retailers
and directly to consumers. Mattel's products include branded fashion dolls,
infant and preschool products, toy cars, and electrical vehicles, among others.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (25.03.2013) 380.30
52-Week Low (13.06.2012) 278.60
Daily Volume
375
52-Week High % Change -1.34% Dividend Yield 4.37
52-Week Low % Change 34.67% Beta 0.74
% 52 Week Price Range High/Low 96.36% Equity Float 1'225.89
Shares Out 16.03.2013 1'888.8 Short Int -
7'082.95 1 Yr Total Return 25.29%
Total Debt 2'767.00 YTD Return 8.72%
Preferred Stock 0.0 Adjusted BETA 0.736
Minority Interest 0.0 Analyst Recs 26
Cash and Equivalents 739.00 Consensus Rating 2.808
Enterprise Value 9'308.95
Average Volume 5 Day 5'466'303
SBRY LN EQUITY YTD Change - Average Volume 30 Day 5'091'166
SBRY LN EQUITY YTD % CHANGE - Average Volume 3 Month 5'186'151
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 12/yy 12/yy 03/13 Y 03/14 Y 06/13 Q1 09/13 Q2
17'837.0 18'911.0 19'964.0 21'102.0 22'294.0 6'266.1 6'420.9 23'231.9 24'102.0 - -
0.41x 0.38x 0.39x 0.40x 0.35x 6.08x 7.90x 0.40x 0.38x - -
1'002.0 1'074.0 1'156.0 1'220.0 1'281.0 1'202.4 1'195.3 1'355.9 1'409.7 - -
7.28x 6.70x 6.74x 6.95x 6.04x 7.94x 10.63x 6.87x 6.60x - -
329.0 289.0 585.0 640.0 598.0 768.5 776.5 575.4 608.4 - -
17.38x 18.83x 10.37x 10.19x 9.48x 12.56x 14.65x 12.63x 11.98x - -
EBITDA 1'281.00 Long-Term Rating Date 13.05.2010
EBIT 782.00 Long-Term Rating NR
Operating Margin 3.51% Long-Term Outlook -
Pretax Margin 3.58% Short-Term Rating Date 13.05.2010
Return on Assets 5.02% Short-Term Rating NR
Return on Common Equity 11.05%
Return on Capital 8.82% EBITDA/Interest Exp. 7.40
Asset Turnover 1.86% (EBITDA-Capex)/Interest Exp. 0.31
Net Debt/EBITDA 1.76
Gross Margin 5.4% Total Debt/EBITDA 2.19
EBITDA Margin 5.6%
EBIT Margin 3.3% Total Debt/Equity 49.2%
Net Income Margin 2.7% Total Debt/Capital 33.0%
Asset Turnover 1.86
Current Ratio 0.64 Net Fixed Asset Turnover 2.43
Quick Ratio 0.27 Accounts receivable turnover-days -
Debt to Assets 22.42% Inventory Days 16.85
Tot Debt to Common Equity 49.16% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -15.32
Inventory Turnover 21.61
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
J Sainsbury PLCPrice/Volume
Valuation Analysis
1'702'117.00
Current Price (3/dd/yy) Market Data
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0.0
1'000.0
2'000.0
3'000.0
4'000.0
5'000.0
6'000.0
7'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
QATAR INVESTMENT AUT n/a ULT-AGG 30'339'567 8.81 - 25.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 27'510'900 7.99 (862'000) 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 21'552'139 6.26 (1'227'792) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 19'932'925 5.79 606'526 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 16'419'806 4.77 (1'588'071) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 15'622'302 4.53 209'910 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 13'796'644 4 488'774 25.03.2013 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 9'035'305 2.62 (28'000) 31.12.2012 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 7'773'226 2.26 (409'088) 31.12.2012 Investment Advisor
ARTISAN PARTNERS HOL ARTISAN PARTNERS LP 13F 6'818'003 1.98 (153'300) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 6'423'432 1.86 (313'838) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 5'845'037 1.7 52'526 31.12.2012 Investment Advisor
CORNERSTONE INVESTME CORNERSTONE INVESTME 13F 5'289'229 1.54 545'032 31.12.2012 Investment Advisor
M&G INVESTMENT MANAG M&G INVESTMENT MANAG 13F 4'744'712 1.38 (600) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 3'802'167 1.1 (352'951) 31.12.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 3'728'848 1.08 29'712 31.12.2012 Investment Advisor
EDGE ASSET MANAGEMEN EDGE ASSET MANAGEMEN 13F 3'194'203 0.93 (50'725) 31.12.2012 Investment Advisor
MANAGED ACCOUNT ADVI MANAGED ACCOUNT ADVI 13F 3'103'095 0.9 (75'421) 31.12.2012 Investment Advisor
EPOCH INVESTMENT PAR EPOCH INVESTMENT PAR 13F 2'953'635 0.86 182'402 31.12.2012 Hedge Fund Manager
NORGES BANK NORGES BANK 13F 2'838'342 0.82 342'408 31.12.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies ERIC O HANDLER buy 5 M 45 12 month 25.03.2013
B Riley & Company, Inc LINDA BOLTON WEISER buy 5 M 47 Not Provided 20.03.2013
Monness, Crespi, Hardt & Co JIM CHARTIER neutral 3 M 36 Not Provided 20.03.2013
EVA Dimensions CRAIG STERLING hold 3 D #N/A N/A Not Provided 11.03.2013
Stifel DREW E CRUM hold 3 M #N/A N/A Not Provided 05.03.2013
BMO Capital Markets GERRICK L JOHNSON outperform 5 M 50 Not Provided 19.02.2013
SunTrust Robinson Humphrey MICHAEL A SWARTZ buy 5 M 45 12 month 19.02.2013
Wells Fargo Securities, LLC TIMOTHY A CONDER outperform 5 M #N/A N/A Not Provided 19.02.2013
Goldman Sachs MICHAEL KELTER neutral/cautious 3 M 40 12 month 14.02.2013
Longbow Research JAMES L HARDIMAN buy 5 M 45 12 month 11.02.2013
Needham & Co SEAN P MCGOWAN buy 5 M 42 12 month 04.02.2013
KeyBanc Capital Markets SCOTT W HAMANN buy 5 M 42 12 month 03.02.2013
Barclays FELICIA R KANTOR HENDRIX equalweight 3 M 39 Not Provided 01.02.2013
Holdings By:
J Sainsbury PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Randgold Resources Ltd. provides mining services. The Company offers
acquisition, development, and exploration of gold and other precious metal in
Africa.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (02.10.2012) 7'875.00
52-Week Low (16.05.2012) 4'480.00
Daily Volume
5570
52-Week High % Change -29.46% Dividend Yield 0.00
52-Week Low % Change 24.00% Beta 0.63
% 52 Week Price Range High/Low 31.96% Equity Float 82.97
Shares Out 28.02.2013 92.1 Short Int -
5'130.86 1 Yr Total Return -0.73%
Total Debt 18.02 YTD Return -6.64%
Preferred Stock 0.0 Adjusted BETA 0.628
Minority Interest 166.1 Analyst Recs 23
Cash and Equivalents 390.76 Consensus Rating 4.174
Enterprise Value 7'542.76
Average Volume 5 Day 272'069
RRS LN EQUITY YTD Change - Average Volume 30 Day 365'074
RRS LN EQUITY YTD % CHANGE - Average Volume 3 Month 341'036
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
338.6 432.8 484.6 1'127.1 1'317.8 2'460.6 2'404.5 1'606.4 2'107.9 - -
9.01x 15.50x 14.79x 7.97x 6.59x 10.96x 12.26x 4.61x 3.25x - -
97.3 142.3 164.3 569.8 699.2 839.7 800.9 896.8 1'265.8 - -
31.34x 47.15x 43.62x 15.77x 12.43x 8.44x 9.66x 8.41x 5.96x - -
41.6 69.4 103.5 377.1 431.8 483.4 369.7 521.5 741.5 - -
78.87x 94.26x 72.03x 24.74x 20.57x 16.48x 18.54x 15.31x 10.48x 16.20x -
EBITDA 699.18 Long-Term Rating Date -
EBIT 567.44 Long-Term Rating -
Operating Margin 43.06% Long-Term Outlook -
Pretax Margin 43.12% Short-Term Rating Date -
Return on Assets 15.26% Short-Term Rating -
Return on Common Equity 17.98%
Return on Capital 20.11% EBITDA/Interest Exp. 582.65
Asset Turnover 0.47% (EBITDA-Capex)/Interest Exp. 114.09
Net Debt/EBITDA -0.53
Gross Margin 52.8% Total Debt/EBITDA 0.03
EBITDA Margin 53.1%
EBIT Margin 43.1% Total Debt/Equity 0.7%
Net Income Margin 32.8% Total Debt/Capital 0.6%
Asset Turnover 0.47
Current Ratio 4.10 Net Fixed Asset Turnover 0.87
Quick Ratio 1.66 Accounts receivable turnover-days -
Debt to Assets 0.58% Inventory Days -
Tot Debt to Common Equity 0.69% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 138.94
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
Randgold Resources LtdPrice/Volume
Valuation Analysis
64'248.00
Current Price (3/dd/yy) Market Data
!
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-2
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02
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- ! F
- 2 F
. ! F
. 2 F
0 ! F
0 2 F
0.0
500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 12'890'359 13.99 (691'639) 25.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 6'334'035 6.88 - 31.12.2011 Investment Advisor
PACIFIC CENTURY GROU n/a Co File 6'249'762 6.78 - 31.12.2011 Corporation
FMR LLC n/a ULT-AGG 5'271'384 5.72 163'956 11.03.2013 Investment Advisor
CARMIGNAC GESTION n/a Co File 4'555'052 4.94 - 31.12.2011 Investment Advisor
WELLS FARGO n/a ULT-AGG 4'350'752 4.72 1 31.01.2013 Unclassified
LEGAL & GENERAL n/a ULT-AGG 3'817'444 4.14 (161'450) 28.02.2013 Unclassified
MASSACHUSETTS MUTUAL n/a Co File 2'386'554 2.59 - 31.12.2011 Insurance Company
FRANKLIN RESOURCES n/a ULT-AGG 2'215'042 2.4 - 31.12.2011 Investment Advisor
COMGEST SA n/a Co File 2'041'700 2.22 - 31.12.2011 Unclassified
STATE STREET n/a ULT-AGG 1'894'654 2.06 - 25.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 892'284 0.97 36'786 31.12.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 786'704 0.85 19'837 31.01.2013 Investment Advisor
BRISTOW D MARK n/a RNS-DIR 716'507 0.78 10'442 18.03.2013 n/a
SCOTTISH WIDOWS n/a ULT-AGG 519'961 0.56 232'006 30.11.2012 Unclassified
COMGEST GROWTH PLC Multiple Portfolios MF-AGG 350'000 0.38 - 30.06.2011 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 309'369 0.34 (19'169) 31.01.2013 Investment Advisor
DWS INVESTMENT SA Multiple Portfolios MF-AGG 255'369 0.28 20'000 31.01.2013 Mutual Fund Manager
ROYAL LONDON ASSET M Multiple Portfolios MF-AGG 179'857 0.2 - 31.12.2012 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 179'019 0.19 91 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Canaccord Genuity Corp TIM DUDLEY buy 5 M 8'300 12 month 25.03.2013
Goldman Sachs EUGENE KING neutral/neutral 3 M 7'800 12 month 15.03.2013
SBG Securities MICHAEL STARKE hold 3 M 6'500 12 month 11.03.2013
Nomura TYLER BRODA reduce 2 M 4'650 Not Provided 07.03.2013
Societe Generale BRUCE ALWAY buy 5 M 8'000 12 month 01.03.2013
Numis Securities Ltd CAILEY BARKER buy 5 M 8'000 Not Provided 01.03.2013
CIBC World Markets LEON ESTERHUIZEN sector perform 3 M 6'500 Not Provided 20.02.2013
Barclays IAN ROSSOUW overweight 5 M 6'500 Not Provided 06.02.2013
Deutsche Bank GRANT SPORRE buy 5 M 7'360 12 month 05.02.2013
Morgan Stanley ALAIN GABRIEL Overwt/In-Line 5 M 6'800 12 month 05.02.2013
RBC Capital Markets JONATHAN GUY outperform 5 M 7'500 12 month 05.02.2013
GMP BROCK SALIER buy 5 M 7'800 Not Provided 05.02.2013
Clarus Securities NANA SANGMUAH buy 5 M 7'671 12 month 05.02.2013
JPMorgan ALLAN COOKE overweight 5 M 7'560 9 month 01.02.2013
Liberum Capital Ltd KATE CRAIG buy 5 U #N/A N/A Not Provided 01.02.2013
Investec HUNTER HILLCOAT buy 5 M 6'882 12 month 29.01.2013
Day by Day VALERIE GASTALDY buy 5 U 7'530 3 month 23.01.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 15.01.2013
Davy BART JAWORSKI outperform 5 M #N/A N/A Not Provided 08.01.2013
BMO Capital Markets ANDREW BREICHMANAS market perform 3 M 7'823 Not Provided 07.11.2012
Holdings By:
Randgold Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
British Land Company plc invests, both directly and through joint ventures, in
income-producing and freehold commercial properties in order to maximize their
growth and potential. The Company trades, finances, and develops property.
Their portfolio consists of offices, retail superstores, shopping centers,
leisure, industrial, and distribution spaces.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (19.02.2013) 588.00
52-Week Low (11.04.2012) 461.70
Daily Volume
540.5
52-Week High % Change -8.25% Dividend Yield 3.67
52-Week Low % Change 16.85% Beta 0.98
% 52 Week Price Range High/Low 69.52% Equity Float 882.74
Shares Out 15.03.2013 986.4 Short Int -
5'331.60 1 Yr Total Return 14.90%
Total Debt 2'621.00 YTD Return -1.70%
Preferred Stock 0.0 Adjusted BETA 0.980
Minority Interest 0.0 Analyst Recs 22
Cash and Equivalents 384.00 Consensus Rating 3.864
Enterprise Value 7'834.60
Average Volume 5 Day 3'630'233
BLND LN EQUITY YTD Change - Average Volume 30 Day 3'675'431
BLND LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'953'406
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 12/yy 12/yy 03/13 Y 03/14 Y 06/12 Q1 09/12 Q2
685.0 515.0 407.0 313.0 348.0 1'424.3 1'490.4 505.3 522.7 - 79.0
14.37x 12.19x 13.96x 20.99x 18.67x 16.38x 15.21x 18.91x 18.59x - -
- - - - - 528.1 405.4 417.8 433.2 - -
- - - - - 11.52x 14.10x 18.75x 18.09x - -
(1'563.0) (3'881.0) 1'140.0 840.0 480.0 381.6 148.3 269.4 282.0 - 64.9
- - 3.62x 5.77x 8.87x 19.80x 21.30x 18.02x 17.49x 16.55x 17.92x
EBITDA - Long-Term Rating Date -
EBIT 233.00 Long-Term Rating -
Operating Margin 66.95% Long-Term Outlook -
Pretax Margin 137.64% Short-Term Rating Date -
Return on Assets 3.20% Short-Term Rating -
Return on Common Equity 5.13%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.04% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin 86.8% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin 66.7% Total Debt/Equity 51.4%
Net Income Margin 137.9% Total Debt/Capital 33.9%
Asset Turnover 0.04
Current Ratio 1.30 Net Fixed Asset Turnover 0.07
Quick Ratio 1.11 Accounts receivable turnover-days 187.69
Debt to Assets 32.13% Inventory Days -
Tot Debt to Common Equity 51.35% Accounts Payable Turnover Day -
Accounts Receivable Turnover 1.95 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
British Land Co PLCPrice/Volume
Valuation Analysis
972'761.00
Current Price (3/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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400.0
600.0
800.0
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1'200.0
1'400.0
1'600.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
NORGES BANK n/a RNS-MAJ 62'598'618 6.35 17'985'340 15.03.2013 Government
BLACKROCK n/a ULT-AGG 52'861'598 5.36 - 25.03.2013 Investment Advisor
APG ALGEMENE PENSIOE Multiple Portfolios REG 51'816'357 5.25 491'778 01.03.2013 Pension Fund (ERISA)
FMR LLC n/a ULT-AGG 43'681'563 4.43 2'096'212 01.03.2013 Investment Advisor
GOVT OF SINGAPORE IN n/a ULT-AGG 39'473'304 4 89'065 21.03.2013 Government
CAPITAL GROUP COMPAN n/a ULT-AGG 36'703'190 3.72 1'728'241 01.03.2013 Investment Advisor
STICHTING PENSIOEN F n/a RNS-MAJ 34'793'042 3.53 13'961'285 09.02.2010 Pension Fund (ERISA)
LEGAL & GENERAL n/a ULT-AGG 31'772'051 3.22 119'980 01.03.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 27'842'633 2.82 (44'642) 01.03.2013 Unclassified
STATE STREET n/a ULT-AGG 26'072'345 2.64 648'018 26.03.2013 Investment Advisor
STICHTING PENSIOENFO Multiple Portfolios REG 16'319'499 1.65 1'256'487 01.03.2013 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 15'703'463 1.59 (1'949'575) 01.03.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 13'733'216 1.39 764'053 01.03.2013 Investment Advisor
UBS n/a ULT-AGG 13'277'808 1.35 1'942'914 01.03.2013 Unclassified
BREWIN DOLPHIN LIMIT Multiple Portfolios REG 12'537'752 1.27 432'580 01.03.2013 Investment Advisor
COHEN & STEERS CAPIT Multiple Portfolios MF-AGG 12'434'747 1.26 (2'393'639) 25.03.2013 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios REG 11'965'643 1.21 7'805'653 01.03.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 11'832'247 1.2 268'000 01.03.2013 Government
VANGUARD GROUP INC Multiple Portfolios REG 11'385'489 1.15 1'668'599 01.03.2013 Investment Advisor
ABN AMRO ASSET MGMT Multiple Portfolios MF-AGG 10'561'672 1.07 7'478'923 17.07.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale MARC MOZZI buy 5 M 630 Not Provided 27.03.2013
JPMorgan HARM M MEIJER overweight 5 M 665 12 month 26.03.2013
Jefferies MICHAEL PREW hold 3 M 528 12 month 25.03.2013
Peel Hunt KEITH CRAWFORD hold 3 M 550 Not Provided 25.03.2013
AlphaValue PIERRE-LOUP ETIENNE reduce 2 M 548 6 month 21.03.2013
Day by Day VALERIE GASTALDY hold 3 D #N/A N/A Not Provided 19.03.2013
Goldman Sachs JULIAN LIVINGSTON-BOOTH neutral/neutral 3 M 585 12 month 18.03.2013
Oriel Securities Ltd MATTHEW S SAPERIA hold 3 M #N/A N/A Not Provided 14.03.2013
Deutsche Bank MARTIN ALLEN buy 5 M 720 12 month 13.03.2013
Kempen & Co RYAN PALECEK overweight 5 M 610 12 month 13.03.2013
Espirito Santo Investment Bank ResearchMICHAEL BURT neutral 3 M 603 Not Provided 13.03.2013
Panmure Gordon & Co Limited MARK HUGHES buy 5 M 600 Not Provided 13.03.2013
Morgan Stanley BART GYSENS Overwt/Attractive 5 M 630 12 month 12.03.2013
Investec ALAN CARTER buy 5 M #N/A N/A Not Provided 12.03.2013
Exane BNP Paribas NICK WEBB outperform 5 M 590 Not Provided 12.03.2013
Numis Securities Ltd CHRISTOPHER SPEARING hold 3 M 615 Not Provided 01.03.2013
EVA Dimensions AUSTIN BURKETT underweight 1 M #N/A N/A Not Provided 17.01.2013
Credit Suisse STEVE BRAMLEY-JACKSON outperform 5 U 605 Not Provided 26.09.2012
Liberum Capital Ltd ALISON WATSON hold 3 M 528 Not Provided 10.08.2012
Barclays AARON GUY equalweight 3 D 609 Not Provided 18.07.2012
Fairfax I.S. Limited AOIFE MCGRATH corporate #N/A N/A M #N/A N/A Not Provided 25.02.2010
Holdings By:
British Land Co PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Smiths Group plc is a global technology company. The company delivers products
and services for the threat & contraband detection, medical devices, energy and
communications market worldwide.
Latest Fiscal Year: 07/2012
LTM as of: 02/yy
52-Week High (19.03.2013) 1'342.00
52-Week Low (01.06.2012) 975.00
Daily Volume
1229
52-Week High % Change -8.72% Dividend Yield 3.16
52-Week Low % Change 25.64% Beta 1.06
% 52 Week Price Range High/Low 79.84% Equity Float 392.38
Shares Out 28.02.2013 393.4 Short Int -
4'834.45 1 Yr Total Return 21.41%
Total Debt 997.00 YTD Return 3.90%
Preferred Stock 0.0 Adjusted BETA 1.062
Minority Interest 8.0 Analyst Recs 21
Cash and Equivalents 205.60 Consensus Rating 3.476
Enterprise Value 5'696.35
Average Volume 5 Day 929'274
SMIN LN EQUITY YTD Change - Average Volume 30 Day 782'867
SMIN LN EQUITY YTD % CHANGE - Average Volume 3 Month 754'132
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.07.2008 31.07.2009 31.07.2010 31.07.2011 31.07.2012 03/yy 02/yy 07/13 Y 07/14 Y - -
2'321.2 2'664.6 2'769.6 2'842.0 3'030.1 - - 3'141.2 3'269.2 - -
2.08x 1.38x 1.88x 1.83x 1.65x - - 1.79x 1.68x - -
431.7 544.3 580.3 598.7 603.4 - - 651.4 689.6 - -
11.20x 6.78x 8.96x 8.67x 8.27x - - 8.74x 8.26x - -
268.5 269.5 310.0 383.8 256.6 - - 368.3 390.6 - -
16.62x 10.17x 14.82x 14.59x 16.32x - - 12.99x 12.24x - -
EBITDA 603.40 Long-Term Rating Date 15.01.2007
EBIT 461.30 Long-Term Rating BBB+
Operating Margin 15.22% Long-Term Outlook STABLE
Pretax Margin 12.08% Short-Term Rating Date 19.04.2000
Return on Assets 8.37% Short-Term Rating A-2
Return on Common Equity 27.05%
Return on Capital 15.97% EBITDA/Interest Exp. 8.37
Asset Turnover 0.83% (EBITDA-Capex)/Interest Exp. 7.67
Net Debt/EBITDA 1.39
Gross Margin 45.7% Total Debt/EBITDA 1.84
EBITDA Margin 19.8%
EBIT Margin 15.2% Total Debt/Equity 102.5%
Net Income Margin 8.5% Total Debt/Capital 50.4%
Asset Turnover 0.83
Current Ratio 1.56 Net Fixed Asset Turnover 11.34
Quick Ratio 0.97 Accounts receivable turnover-days 73.98
Debt to Assets 27.65% Inventory Days 105.09
Tot Debt to Common Equity 102.49% Accounts Payable Turnover Day 95.87
Accounts Receivable Turnover 4.99 Cash Conversion Cycle 123.33
Inventory Turnover 3.51
Fiscal Year Ended
Smiths Group PLCPrice/Volume
Valuation Analysis
260'535.00
Current Price (3/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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3
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0.0
1'000.0
2'000.0
3'000.0
4'000.0
5'000.0
6'000.0
7'000.0
8'000.0
9'000.0
10'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
M&G INVESTMENT MANAG Multiple Portfolios REG 17'634'120 4.48 293'688 01.01.2013 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 17'351'791 4.41 62'001 01.01.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 16'400'000 4.17 - 25.03.2013 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 15'818'211 4.02 (6'361) 28.02.2013 Unclassified
NEWTON INV MGMT n/a Co File 15'200'000 3.86 - 17.09.2012 Mutual Fund Manager
SUN LIFE FINANCIAL I n/a ULT-AGG 13'667'513 3.47 (440'340) 01.01.2013 Investment Advisor
MORGAN STANLEY INVES Multiple Portfolios REG 11'361'652 2.89 (378'487) 01.01.2013 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 11'171'749 2.84 (2'771'371) 31.01.2013 Investment Advisor
HARRIS ASSOCIATES LP Multiple Portfolios REG 9'886'445 2.51 818'190 01.01.2013 Investment Advisor
DWS INVESTMENT SA Multiple Portfolios REG 9'231'910 2.35 (114'815) 01.01.2013 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 9'110'247 2.32 144'462 01.01.2013 Government
SCOTTISH WIDOWS n/a ULT-AGG 8'838'154 2.25 1'062'145 01.01.2013 Unclassified
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 8'445'657 2.15 (609) 31.01.2013 Investment Advisor
THREADNEEDLE INVESTM Multiple Portfolios MF-AGG 7'767'438 1.97 207'527 31.12.2012 Investment Advisor
ARTEMIS INVESTMENT M Multiple Portfolios REG 7'746'982 1.97 (1'041'720) 01.01.2013 Investment Advisor
HARRIS ASSOCIATES LP Multiple Portfolios MF-AGG 6'521'955 1.66 510'500 31.12.2012 Investment Advisor
ARTEMIS INVESTMENT M Multiple Portfolios MF-AGG 5'957'384 1.51 (3'115'615) 31.12.2012 Investment Advisor
RENSBURG INVESTMENT Multiple Portfolios REG 5'694'339 1.45 642'148 01.01.2013 Investment Advisor
JO HAMBRO CAPITAL MA Multiple Portfolios REG 5'512'090 1.4 1'844'500 01.01.2013 Mutual Fund Manager
CREDIT AGRICOLE GROU Multiple Portfolios REG 5'428'572 1.38 (420'630) 01.01.2013 Bank
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Barclays ALLAN SMYLIE underweight 1 M 1'157 Not Provided 27.03.2013
Deutsche Bank MARTIN WILKIE buy 5 M 1'400 12 month 26.03.2013
Societe Generale ALASDAIR LESLIE sell 1 M 1'200 12 month 22.03.2013
Arden Partners Ltd DAVID LARKAM neutral 3 D 1'300 Not Provided 22.03.2013
Investec CHRIS DYETT buy 5 M 1'425 12 month 21.03.2013
RBC Capital Markets ANDREW CARTER underperform 1 M 1'200 12 month 21.03.2013
Espirito Santo Investment Bank ResearchEDWARD STACEY neutral 3 M 1'220 Not Provided 21.03.2013
Exane BNP Paribas JONATHAN R MOUNSEY outperform 5 M 1'375 Not Provided 21.03.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 21.03.2013
Morgan Stanley BEN UGLOW Equalwt/Cautious 3 M 1'281 12 month 20.03.2013
Credit Suisse ANDRE KUKHNIN outperform 5 M 1'420 Not Provided 20.03.2013
JPMorgan GLEN H LIDDY overweight 5 M 1'500 9 month 20.03.2013
Jefferies SANDY MORRIS buy 5 M 1'400 12 month 20.03.2013
Numis Securities Ltd SCOTT CAGEHIN hold 3 M 1'400 Not Provided 20.03.2013
HSBC SEAN D MCLOUGHLIN overweight 5 N 1'400 Not Provided 07.02.2013
Day by Day VALERIE GASTALDY buy 5 M 1'338 3 month 24.01.2013
Berenberg Bank ALEXANDER VIRGO buy 5 M 1'350 Not Provided 08.01.2013
Nomura JUHO LAHDENPERA neutral 3 M 1'150 12 month 06.11.2012
Gabelli & Co WAYNE PINSENT buy 5 M #N/A N/A Not Provided 05.05.2011
Holdings By:
Smiths Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
United Utilities Group PLC manages and operates the regulated electricity
distribution, water and wastewater networks in North West England. The Company
also manages other infrastructure assets in the United Kingdom and overseas.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (14.08.2012) 816.00
52-Week Low (12.04.2012) 590.00
Daily Volume
697.5
52-Week High % Change -14.52% Dividend Yield 4.70
52-Week Low % Change 18.22% Beta 0.60
% 52 Week Price Range High/Low 51.11% Equity Float 661.17
Shares Out 02.01.2013 681.9 Short Int -
4'756.17 1 Yr Total Return 20.62%
Total Debt 5'855.20 YTD Return 3.56%
Preferred Stock 0.0 Adjusted BETA 0.599
Minority Interest 0.0 Analyst Recs 20
Cash and Equivalents 321.20 Consensus Rating 3.150
Enterprise Value 10'582.97
Average Volume 5 Day 3'400'939
UU/ LN EQUITY YTD Change - Average Volume 30 Day 2'760'444
UU/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'942'956
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 12/yy 12/yy 03/13 Y 03/14 Y - -
2'362.9 2'427.2 1'573.1 1'513.3 1'564.9 - - 1'644.2 1'699.6 - -
3.78x 3.57x 5.71x 6.01x 6.16x - - 6.26x 6.21x - -
905.7 998.8 1'105.7 899.6 900.0 - - 964.2 1'008.5 - -
9.87x 8.69x 8.13x 10.10x 10.71x - - 10.98x 10.49x - -
909.2 179.1 403.5 458.2 316.5 - - 290.8 308.6 - -
14.60x 18.25x 10.98x 11.38x 13.16x - - 17.93x 16.81x - -
EBITDA 900.00 Long-Term Rating Date -
EBIT 602.20 Long-Term Rating -
Operating Margin 38.48% Long-Term Outlook -
Pretax Margin 17.92% Short-Term Rating Date 28.01.2010
Return on Assets 3.30% Short-Term Rating A-3
Return on Common Equity 18.54%
Return on Capital - EBITDA/Interest Exp. 2.85
Asset Turnover 0.16% (EBITDA-Capex)/Interest Exp. 1.26
Net Debt/EBITDA 6.44
Gross Margin - Total Debt/EBITDA 6.61
EBITDA Margin 56.7%
EBIT Margin 37.2% Total Debt/Equity 331.8%
Net Income Margin 20.2% Total Debt/Capital 76.8%
Asset Turnover 0.16
Current Ratio 1.09 Net Fixed Asset Turnover 0.19
Quick Ratio 0.76 Accounts receivable turnover-days -
Debt to Assets 58.37% Inventory Days -
Tot Debt to Common Equity 331.81% 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
United Utilities Group PLCPrice/Volume
Valuation Analysis
661'616.00
Current Price (3/dd/yy) Market Data
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0.0
10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
70'000.0
80'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
AXA n/a ULT-AGG 41'587'948 6.1 (277'460) 01.01.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 34'976'790 5.13 - 25.03.2013 Investment Advisor
PICTET ASSET MANAGEM n/a Co File 34'090'439 5 - 23.05.2012 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 25'417'099 3.73 585'034 01.01.2013 Unclassified
M&G INVESTMENT MANAG Multiple Portfolios REG 21'148'243 3.1 188'493 01.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 20'495'921 3.01 2'341'984 01.01.2013 Government
NOMURA n/a ULT-AGG 16'048'587 2.35 2'009'113 01.01.2013 Unclassified
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 15'593'893 2.29 2'211'521 26.03.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 14'000'000 2.05 - 01.01.2013 Investment Advisor
NEWTON INV MGMT Multiple Portfolios REG 12'112'597 1.78 7'365'597 01.01.2013 Mutual Fund Manager
BARCLAYS PERSONAL IN Multiple Portfolios REG 10'780'410 1.58 677'916 01.01.2013 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 10'763'202 1.58 (1'644'175) 01.01.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 10'653'109 1.56 3'592'473 01.01.2013 Unclassified
EPOCH INVESTMENT PAR Multiple Portfolios REG 10'464'744 1.53 4'081'154 01.01.2013 Hedge Fund Manager
TD WATERHOUSE GROUP Multiple Portfolios REG 9'861'003 1.45 248'244 01.01.2013 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 8'614'636 1.26 (556'329) 01.01.2013 Government
HARGREAVES LANSDOWN Multiple Portfolios REG 7'984'072 1.17 527'792 01.01.2013 Investment Advisor
CO-OPERATIVE INSURAN Multiple Portfolios REG 7'613'884 1.12 822'884 01.01.2013 Insurance Company
VANGUARD GROUP INC Multiple Portfolios REG 7'470'989 1.1 24'089 01.01.2013 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 7'373'817 1.08 11'677 01.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets JOHN MUSK underperform 1 M 680 12 month 26.03.2013
HSBC VERITY MITCHELL neutral 3 M 775 Not Provided 21.03.2013
AlphaValue MYRIAM COHEN add 4 U 766 6 month 21.03.2013
Goldman Sachs ANDREW MEAD neutral/neutral 3 M 829 12 month 11.03.2013
Credit Suisse GUY MACKENZIE underperform 1 M 660 Not Provided 07.03.2013
Day by Day VALERIE GASTALDY buy 5 U 816 3 month 05.03.2013
Baden Hill LLP ROY CAMPBELL sell 1 M #N/A N/A Not Provided 01.03.2013
Nomura JONATHAN CONSTABLE neutral 3 M 765 Not Provided 21.02.2013
JPMorgan EDMUND REID neutral 3 M 720 12 month 13.02.2013
Cantor Fitzgerald ANGELOS ANASTASIOU buy 5 N 792 Not Provided 11.02.2013
Exane BNP Paribas IAIN TURNER neutral 3 M 740 Not Provided 08.02.2013
S&P Capital IQ CLIVE ROBERTS sell 1 M 603 12 month 30.01.2013
Barclays HARRY WYBURD equalweight 3 M 700 Not Provided 25.01.2013
EVA Dimensions AUSTIN BURKETT sell 1 M #N/A N/A Not Provided 17.01.2013
Societe Generale ASHLEY THOMAS buy 5 M 779 12 month 15.01.2013
Morgan Stanley BOBBY CHADA Overwt/In-Line 5 M 700 12 month 04.09.2012
Deutsche Bank JAMES BRAND buy 5 M 770 12 month 11.05.2012
Holdings By:
United Utilities Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
The Weir Group PLC is an engineering solutions provider focused on the minerals,
oil and gas and power markets. The Company manufactures and supplies engineering
products and services for mining and minerals processing, power generation, oil
and gas production, water supply and other industrial uses. The Weir Group
supplies pumps, valves, compressors and turbines.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (12.03.2013) 2'490.00
52-Week Low (14.06.2012) 1'352.00
Daily Volume
2222
52-Week High % Change -10.76% Dividend Yield 1.71
52-Week Low % Change 64.35% Beta 1.46
% 52 Week Price Range High/Low 73.37% Equity Float 205.47
Shares Out 18.03.2013 212.9 Short Int -
4'730.42 1 Yr Total Return 27.97%
Total Debt 1'080.00 YTD Return 18.25%
Preferred Stock 0.0 Adjusted BETA 1.458
Minority Interest 3.2 Analyst Recs 23
Cash and Equivalents 391.10 Consensus Rating 3.565
Enterprise Value 5'422.52
Average Volume 5 Day 863'000
WEIR LN EQUITY YTD Change - Average Volume 30 Day 1'059'566
WEIR LN EQUITY YTD % CHANGE - Average Volume 3 Month 866'650
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/12 Q1 06/12 Q2
1'353.6 1'390.2 1'635.0 2'292.0 2'538.3 - - 2'631.0 2'789.2 - -
0.66x 1.17x 2.47x 2.17x 1.84x - - 2.04x 1.85x - -
203.7 230.1 338.7 449.7 528.9 - - 554.8 603.4 - -
4.38x 7.08x 11.91x 11.05x 8.85x - - 9.77x 8.99x - -
170.8 128.8 185.1 298.3 315.4 - - 311.2 344.0 - -
5.76x 12.20x 18.88x 15.42x 12.75x - - 14.49x 13.23x - -
EBITDA 528.90 Long-Term Rating Date -
EBIT 442.80 Long-Term Rating -
Operating Margin 17.44% Long-Term Outlook -
Pretax Margin 16.70% Short-Term Rating Date -
Return on Assets 10.18% Short-Term Rating -
Return on Common Equity 26.04%
Return on Capital 16.34% EBITDA/Interest Exp. 11.09
Asset Turnover 0.82% (EBITDA-Capex)/Interest Exp. 8.50
Net Debt/EBITDA 1.30
Gross Margin 34.9% Total Debt/EBITDA 2.04
EBITDA Margin 20.8%
EBIT Margin 17.4% Total Debt/Equity 82.6%
Net Income Margin 12.4% Total Debt/Capital 45.2%
Asset Turnover 0.82
Current Ratio 2.19 Net Fixed Asset Turnover 7.33
Quick Ratio 1.24 Accounts receivable turnover-days 61.00
Debt to Assets 32.90% Inventory Days -
Tot Debt to Common Equity 82.63% Accounts Payable Turnover Day -
Accounts Receivable Turnover 5.95 Cash Conversion Cycle 101.11
Inventory Turnover -
Fiscal Year Ended
Weir Group PLC/ThePrice/Volume
Valuation Analysis
275'613.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
AXA n/a ULT-AGG 12'014'465 5.64 (96'940) 01.02.2013 Investment Advisor
ABERDEEN n/a ULT-AGG 10'463'664 4.92 (488'930) 05.03.2013 Unclassified
LEGAL & GENERAL n/a ULT-AGG 9'810'232 4.61 674'122 01.02.2013 Unclassified
AXA FRAMLINGTON INV Multiple Portfolios REG 9'384'275 4.41 22'243 01.02.2013 Investment Advisor
FMR LLC n/a ULT-AGG 8'646'153 4.06 (228'360) 01.02.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 8'475'979 3.98 (2'082'854) 11.02.2013 Investment Advisor
LANSDOWNE PARTNERS n/a Short (7'268'078) -3.41 - 01.11.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 6'382'319 3 79'630 01.02.2013 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 5'933'635 2.79 (188'859) 01.02.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 5'744'762 2.7 4'932'525 01.02.2013 Government
BREWIN DOLPHIN LIMIT Multiple Portfolios REG 5'349'175 2.51 78'296 01.02.2013 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 4'823'504 2.27 (959'132) 01.02.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 4'777'377 2.24 1'061'866 01.02.2013 Investment Advisor
BROOKSIDE CAPITAL MA n/a Short (3'846'556) -1.81 - 27.02.2013 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios REG 3'821'801 1.8 1'630'814 01.02.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 3'758'411 1.77 (1'188'154) 25.03.2013 Investment Advisor
EAST SIDE CAPITAL LL Multiple Portfolios REG 3'728'788 1.75 (665'944) 01.02.2013 Unclassified
SCOTTISH WIDOWS n/a ULT-AGG 3'630'537 1.71 673'114 01.02.2013 Unclassified
BAILLIE GIFFORD AND Multiple Portfolios REG 3'568'485 1.68 249'384 01.02.2013 Investment Advisor
STEADFAST CAPITAL MA n/a Short (3'379'019) -1.59 106'258 14.03.2013 Other
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale ALASDAIR LESLIE sell 1 M 1'870 12 month 22.03.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 21.03.2013
Investec THOMAS RANDS hold 3 M 2'400 12 month 19.03.2013
Nomura JUHO LAHDENPERA neutral 3 M 1'950 12 month 19.03.2013
Berenberg Bank ALEXANDER VIRGO hold 3 D 2'552 Not Provided 18.03.2013
Credit Suisse JONATHAN HURN neutral 3 M 2'520 Not Provided 15.03.2013
Exane BNP Paribas JONATHAN R MOUNSEY outperform 5 M 2'600 Not Provided 14.03.2013
Jefferies ANDREW DOUGLAS hold 3 M 2'500 12 month 12.03.2013
Barclays NICK WEBSTER overweight 5 M 2'405 Not Provided 08.03.2013
RBC Capital Markets ANDREW CARTER outperform 5 M 2'550 12 month 28.02.2013
JPMorgan GLEN H LIDDY overweight 5 M 2'600 9 month 27.02.2013
Numis Securities Ltd SCOTT CAGEHIN buy 5 M 2'600 Not Provided 27.02.2013
Baden Hill LLP ANTOINE HNEIN sell 1 M 1'720 12 month 27.02.2013
Oriel Securities Ltd HARRY PHILIPS add 4 M 2'200 Not Provided 25.02.2013
CA Cheuvreux OLIVER GIRAKHOU outperform 5 N 2'400 Not Provided 21.02.2013
Morgan Stanley BEN UGLOW Underwt/Cautious 1 M 1'830 12 month 14.02.2013
Deutsche Bank PETER REILLY buy 5 M 2'400 12 month 11.02.2013
Cowen Securities LLC DOUG GARBER sell 1 M 1'530 Not Provided 11.02.2013
Goldman Sachs ADAM PINCKARD Buy/Neutral 5 M 3'150 12 month 17.01.2013
Arden Partners Ltd DAVID LARKAM neutral 3 D #N/A N/A Not Provided 05.11.2012
N+1 Singer Ltd JO REEDMAN not rated #N/A N/A M #N/A N/A Not Provided 19.06.2012
Holdings By:
Weir Group PLC/The ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
ITV plc is a United Kingdom media company covering broadcasting, news, and
production. The Company owns all of the regional Channel 3 licenses in England
and Wales. ITV owns ITV1, a commercial television channel, as well as ITV2, a
partial interest in GMTV, and other interests.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (19.03.2013) 132.90
52-Week Low (01.06.2012) 68.55
Daily Volume
128.1
52-Week High % Change -4.06% Dividend Yield 2.04
52-Week Low % Change 86.00% Beta 1.11
% 52 Week Price Range High/Low 95.49% Equity Float 3'752.78
Shares Out 01.03.2013 3'912.3 Short Int -
5'011.66 1 Yr Total Return 46.39%
Total Debt 639.00 YTD Return 21.20%
Preferred Stock 0.0 Adjusted BETA 1.114
Minority Interest 15.0 Analyst Recs 28
Cash and Equivalents 690.00 Consensus Rating 3.643
Enterprise Value 4'975.66
Average Volume 5 Day 10'620'790
ITV LN EQUITY YTD Change - Average Volume 30 Day 14'410'770
ITV LN EQUITY YTD % CHANGE - Average Volume 3 Month 13'288'130
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 12/12 Q4 03/13 Q1
2'029.0 1'879.0 2'064.0 2'140.0 2'196.0 1'703.2 2'060.7 2'307.3 2'391.5 456.0 -
1.21x 1.54x 1.52x 1.30x 1.86x 14.91x 18.89x 2.07x 1.91x 12.32x -
247.0 240.0 438.0 488.0 547.0 473.5 571.2 601.8 631.6 - -
9.96x 12.06x 7.18x 5.68x 7.46x 15.33x 14.78x 8.27x 7.88x - -
(2'556.0) 91.0 269.0 247.0 267.0 286.2 340.0 394.1 414.7 - -
- 22.33x 10.11x 10.71x 15.32x 29.92x 28.41x 12.94x 12.08x - -
EBITDA 547.00 Long-Term Rating Date 30.03.2012
EBIT 460.00 Long-Term Rating BB+
Operating Margin 20.95% Long-Term Outlook POS
Pretax Margin 15.85% Short-Term Rating Date 06.08.2008
Return on Assets 9.34% Short-Term Rating B
Return on Common Equity 32.90%
Return on Capital 28.77% EBITDA/Interest Exp. 2.19
Asset Turnover 0.77% (EBITDA-Capex)/Interest Exp. 1.99
Net Debt/EBITDA -0.09
Gross Margin - Total Debt/EBITDA 1.17
EBITDA Margin 24.9%
EBIT Margin 20.9% Total Debt/Equity 78.2%
Net Income Margin 12.2% Total Debt/Capital 43.4%
Asset Turnover 0.77
Current Ratio 1.88 Net Fixed Asset Turnover 13.60
Quick Ratio 0.98 Accounts receivable turnover-days -
Debt to Assets 22.86% Inventory Days -
Tot Debt to Common Equity 78.21% 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
ITV PLCPrice/Volume
Valuation Analysis
4'350'148.00
Current Price (3/dd/yy) Market Data
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0.0
500.0
1'000.0
1'500.0
2'000.0
2'500.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BRITISH SKY BROADCAS Multiple Portfolios REG 291'684'730 7.46 - 01.11.2012 Corporation
SKY HOLDINGS LIMITED n/a Co File 291'684'730 7.46 - 31.12.2011 Investment Advisor
FMR LLC n/a ULT-AGG 240'001'700 6.13 (12'224'187) 31.01.2013 Investment Advisor
AXA n/a ULT-AGG 221'546'934 5.66 (866'485) 20.02.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 213'598'277 5.46 - 25.03.2013 Investment Advisor
MAJEDIE ASSET MANAGE Multiple Portfolios REG 196'103'145 5.01 415'535 01.11.2012 Investment Advisor
BRANDES INVESTMENT P n/a Co File 194'304'930 4.97 - 31.12.2011 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 155'033'195 3.96 (3'309'120) 28.02.2013 Unclassified
LEGAL AND GENERAL IN n/a Co File 153'692'144 3.93 - 31.12.2011 n/a
AXA FRAMLINGTON INV Multiple Portfolios REG 146'078'266 3.73 14'235'016 01.11.2012 Investment Advisor
RUFFER INVESTMENT MA Multiple Portfolios REG 104'632'310 2.67 (5'029'646) 01.11.2012 Investment Advisor
ARTEMIS INVESTMENT M Multiple Portfolios REG 84'665'233 2.16 16'511'797 01.11.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 81'652'583 2.09 (2'473'210) 01.11.2012 Investment Advisor
MARATHON ASSET MANAG Multiple Portfolios REG 80'787'915 2.06 (2'384'446) 01.11.2012 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 76'144'837 1.95 22'117'971 01.11.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 74'328'141 1.9 17'312'822 31.12.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 73'946'918 1.89 21'828'248 01.11.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 72'947'106 1.86 6'131'143 30.11.2012 Unclassified
RUFFER LLP Multiple Portfolios MF-AGG 65'931'596 1.69 - 31.10.2012 Hedge Fund Manager
JP MORGAN n/a ULT-AGG 63'786'556 1.63 (6'140'195) 31.01.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Berenberg Bank SARAH SIMON hold 3 M 91 Not Provided 26.03.2013
AlphaValue VERONIQUE CABIOC'H sell 1 M 120 6 month 22.03.2013
Goldman Sachs RICHARD JONES Buy/Neutral 5 M 154 12 month 20.03.2013
Sanford C. Bernstein & Co CLAUDIO ASPESI outperform 5 M 155 12 month 19.03.2013
Day by Day VALERIE GASTALDY buy 5 M 139 3 month 11.03.2013
S&P Capital IQ ALEXANDER WISCH sell 1 M 105 12 month 07.03.2013
Panmure Gordon & Co Limited ALEX DE GROOTE buy 5 M 180 Not Provided 07.03.2013
Westhouse Securities RODDY DAVIDSON add 4 M 144 Not Provided 07.03.2013
Kepler Capital Markets CONOR O'SHEA hold 3 M 125 Not Provided 04.03.2013
Deutsche Bank LAURIE DAVISON sell 1 M 100 12 month 28.02.2013
Investec STEVEN LIECHTI hold 3 U 110 12 month 28.02.2013
Macquarie ANGUS TWEEDIE outperform 5 M 130 12 month 28.02.2013
Peel Hunt PATRICK YAU buy 5 M 130 Not Provided 28.02.2013
Nomura WILLIAM MAIRS buy 5 M 130 12 month 28.02.2013
Barclays JULIEN ROCH equalweight 3 M 115 Not Provided 28.02.2013
Morgan Stanley PATRICK WELLINGTON Overwt/Attractive 5 M 135 12 month 27.02.2013
Credit Suisse OMAR SHEIKH outperform 5 M 130 Not Provided 27.02.2013
JPMorgan FILIPPO PIETRO LO FRANCO neutral 3 M 126 9 month 27.02.2013
Espirito Santo Investment Bank ResearchGIASONE SALATI sell 1 M 76 Not Provided 27.02.2013
Numis Securities Ltd PAUL RICHARDS add 4 M 140 Not Provided 27.02.2013
Exane BNP Paribas ADRIEN DE SAINT HILAIRE outperform 5 M 135 Not Provided 27.02.2013
Liberum Capital Ltd IAN WHITTAKER buy 5 M 155 Not Provided 21.02.2013
EVA Dimensions CRAIG STERLING hold 3 M #N/A N/A Not Provided 17.01.2013
HSBC DAN GRAHAM underweight 1 M 83 Not Provided 25.10.2012
Jefferies WILL SMITH hold 3 M 77 12 month 26.07.2012
Holdings By:
ITV PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Johnson Matthey PLC is a specialty chemicals company which manufactures
catalysts, pharmaceutical materials, and pollution control systems. The
Company also refines platinum, gold and silver, and produces color and coating
materials for the glass, ceramics, tile, plastics, paint, ink, and construction
industries. Johnson Matthey has operations around the world.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (17.09.2012) 2'579.00
52-Week Low (25.07.2012) 2'013.30
Daily Volume
2234
52-Week High % Change -13.34% Dividend Yield 2.48
52-Week Low % Change 11.01% Beta 1.25
% 52 Week Price Range High/Low 38.13% Equity Float 204.63
Shares Out 11.03.2013 204.9 Short Int -
4'577.86 1 Yr Total Return -2.08%
Total Debt 499.30 YTD Return -5.93%
Preferred Stock 0.0 Adjusted BETA 1.246
Minority Interest 0.4 Analyst Recs 16
Cash and Equivalents 150.70 Consensus Rating 3.500
Enterprise Value 5'288.26
Average Volume 5 Day 606'883
JMAT LN EQUITY YTD Change - Average Volume 30 Day 539'977
JMAT LN EQUITY YTD % CHANGE - Average Volume 3 Month 559'561
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 12/yy 12/yy 03/13 Y 03/14 Y - -
7'498.7 7'847.8 7'839.4 9'984.8 12'023.2 - - 10'293.0 8'177.5 - -
0.66x 0.36x 0.54x 0.46x 0.45x - - 0.51x 0.63x - -
374.4 401.2 402.2 520.5 580.2 - - 543.3 567.6 - -
13.16x 7.05x 10.53x 8.76x 9.33x - - 9.73x 9.32x - -
186.2 174.1 164.2 181.5 315.9 - - 297.6 312.7 - -
22.71x 12.84x 22.50x 21.60x 15.86x - - 15.34x 14.47x - -
EBITDA 580.20 Long-Term Rating Date -
EBIT 433.40 Long-Term Rating -
Operating Margin 3.60% Long-Term Outlook -
Pretax Margin 3.40% Short-Term Rating Date -
Return on Assets 9.66% Short-Term Rating -
Return on Common Equity 22.91%
Return on Capital 15.80% EBITDA/Interest Exp. 16.39
Asset Turnover 3.40% (EBITDA-Capex)/Interest Exp. 12.13
Net Debt/EBITDA 1.26
Gross Margin 6.3% Total Debt/EBITDA 1.43
EBITDA Margin 5.1%
EBIT Margin 3.8% Total Debt/Equity 32.6%
Net Income Margin 2.6% Total Debt/Capital 24.6%
Asset Turnover 3.40
Current Ratio 1.74 Net Fixed Asset Turnover 12.33
Quick Ratio 0.90 Accounts receivable turnover-days -
Debt to Assets 15.29% Inventory Days 23.65
Tot Debt to Common Equity 32.60% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 31.18
Inventory Turnover 15.48
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
Johnson Matthey PLCPrice/Volume
Valuation Analysis
134'104.00
Current Price (3/dd/yy) Market Data
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0.0
1'000.0
2'000.0
3'000.0
4'000.0
5'000.0
6'000.0
7'000.0
8'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 20'254'207 9.88 89'602 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 15'393'158 7.51 (1'208'166) 31.01.2013 Investment Advisor
LLOYDS BANKING GROUP n/a ULT-AGG 10'470'589 5.11 (8'683) 01.12.2012 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 10'363'251 5.06 (282'632) 01.12.2012 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 7'570'675 3.69 2'399'232 01.12.2012 Unclassified
LEGAL & GENERAL n/a ULT-AGG 6'099'801 2.98 (2'091'877) 07.03.2013 Unclassified
NORGES BANK INVESTME Multiple Portfolios REG 5'551'656 2.71 5'428'717 01.12.2012 Government
BAILLIE GIFFORD AND Multiple Portfolios REG 5'278'231 2.58 131'579 01.12.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 5'222'338 2.55 (1'054'394) 01.12.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 5'110'819 2.49 1'308'506 01.12.2012 Investment Advisor
MANNING & NAPIER ADV Multiple Portfolios REG 4'967'991 2.42 (999'339) 01.12.2012 Unclassified
JOHNSON MATTHEY PLC Multiple Portfolios REG 4'463'881 2.18 (210'338) 01.12.2012 Other
THREADNEEDLE INVESTM Multiple Portfolios MF-AGG 3'969'348 1.94 5'635 31.12.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 3'965'899 1.94 32'197 31.12.2012 Investment Advisor
MANNING & NAPIER ADV Multiple Portfolios MF-AGG 3'851'250 1.88 325'169 31.12.2012 Investment Advisor
AVIVA INVESTORS Multiple Portfolios REG 3'569'501 1.74 (161'440) 01.12.2012 Investment Advisor
WILLIAM BLAIR & COMP Multiple Portfolios REG 3'361'546 1.64 (951'213) 01.12.2012 Investment Advisor
ARTISAN PARTNERS HOL Multiple Portfolios REG 3'121'157 1.52 235'699 01.12.2012 Investment Advisor
AXA FRAMLINGTON INV Multiple Portfolios REG 2'858'947 1.4 (66'217) 01.12.2012 Investment Advisor
NEPTUNE INVESTMENT M Multiple Portfolios REG 2'323'271 1.13 (98'729) 01.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
HSBC GEOFF HAIRE neutral 3 M 2'300 Not Provided 26.03.2013
AlphaValue MARTIN SCHNEE reduce 2 M 2'395 6 month 21.03.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 21.03.2013
JPMorgan MARTIN EVANS neutral 3 M 2'150 12 month 20.03.2013
Morgan Stanley PAUL R WALSH Underwt/In-Line 1 M 2'200 12 month 22.02.2013
Numis Securities Ltd CHARLES PICK add 4 M 2'515 Not Provided 18.02.2013
Deutsche Bank MARTIN DUNWOODIE buy 5 M 2'550 12 month 16.02.2013
Goldman Sachs RAKESH PATEL Buy/Neutral 5 M 2'900 12 month 15.02.2013
Liberum Capital Ltd ADAM COLLINS buy 5 M 3'000 Not Provided 15.02.2013
Credit Suisse RHIAN O'CONNOR outperform 5 M 2'400 Not Provided 12.02.2013
Day by Day VALERIE GASTALDY hold 3 D #N/A N/A Not Provided 07.01.2013
S&P Capital IQ SHO MATSUBARA hold 3 M 2'350 12 month 27.11.2012
Redburn Partners TONY JONES neutral 3 M #N/A N/A Not Provided 05.10.2012
Holdings By:
Johnson Matthey PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Aggreko plc provides specialist power and temperature control rental services in
two main product areas, mobile electricity generators and temperature control
equipment. Aggreko also supplies oil-free diesel compressors used to eliminate
oil based contaminants in the food, pharmaceutical and textile industries. The
Group operates through approximately 118 depots in 23 countries worldwide.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (17.09.2012) 2'415.00
52-Week Low (31.01.2013) 1'548.00
Daily Volume
1781
52-Week High % Change -26.13% Dividend Yield 1.34
52-Week Low % Change 15.25% Beta 1.05
% 52 Week Price Range High/Low 30.57% Equity Float 257.87
Shares Out 01.03.2013 268.6 Short Int -
4'783.40 1 Yr Total Return -20.26%
Total Debt 615.90 YTD Return 2.53%
Preferred Stock 0.0 Adjusted BETA 1.046
Minority Interest 0.0 Analyst Recs 25
Cash and Equivalents 22.90 Consensus Rating 3.880
Enterprise Value 5'376.40
Average Volume 5 Day 908'868
AGK LN EQUITY YTD Change - Average Volume 30 Day 1'038'900
AGK LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'026'636
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y 03/12 Q1 06/12 Q2
946.6 1'023.9 1'229.9 1'396.1 1'583.2 - - 1'635.6 1'738.8 - -
1.65x 2.62x 3.34x 4.05x 3.30x - - 3.20x 2.92x - -
318.4 403.4 472.9 526.9 621.6 - - 634.8 677.4 - -
4.90x 6.64x 8.69x 10.72x 8.41x - - 8.47x 7.94x - -
122.7 168.4 213.1 260.1 276.0 - - 255.5 279.5 - -
9.74x 14.84x 18.67x 20.60x 16.71x - - 18.75x 17.29x - -
EBITDA 621.60 Long-Term Rating Date -
EBIT 380.70 Long-Term Rating -
Operating Margin 24.05% Long-Term Outlook -
Pretax Margin 23.18% Short-Term Rating Date -
Return on Assets 14.17% Short-Term Rating -
Return on Common Equity 28.66%
Return on Capital 20.00% EBITDA/Interest Exp. 23.37
Asset Turnover 0.81% (EBITDA-Capex)/Interest Exp. 6.84
Net Debt/EBITDA 0.95
Gross Margin 61.5% Total Debt/EBITDA 0.99
EBITDA Margin 39.3%
EBIT Margin 24.0% Total Debt/Equity 58.9%
Net Income Margin 17.4% Total Debt/Capital 37.1%
Asset Turnover 0.81
Current Ratio 1.12 Net Fixed Asset Turnover 1.34
Quick Ratio 0.54 Accounts receivable turnover-days 64.39
Debt to Assets 29.01% Inventory Days 97.45
Tot Debt to Common Equity 58.95% Accounts Payable Turnover Day 76.78
Accounts Receivable Turnover 5.68 Cash Conversion Cycle 85.07
Inventory Turnover 3.76
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
Aggreko PLCPrice/Volume
Valuation Analysis
384'374.00
Current Price (3/dd/yy) Market Data
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4'000.0
5'000.0
6'000.0
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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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
M&G INVESTMENT MANAG Multiple Portfolios REG 16'535'077 6.16 388'329 01.02.2013 Investment Advisor
BAILLIE GIFFORD AND Multiple Portfolios REG 14'760'487 5.5 1'376'462 01.02.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 12'600'810 4.69 - 25.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 10'568'492 3.93 (1'522'547) 21.03.2013 Investment Advisor
SALVESEN ALASTAIR ER n/a RNS-MAJ 9'995'283 3.72 (894'717) 27.12.2012 n/a
LEGAL & GENERAL n/a ULT-AGG 9'911'786 3.69 (20'376) 28.02.2013 Unclassified
PRIVATE INDIVIDUALS Multiple Portfolios REG 8'391'217 3.12 (126'635) 01.02.2013 Other
LANSDOWNE PARTNERS n/a Short (7'727'861) -2.88 (348'827) 02.01.2013 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 6'195'331 2.31 - 01.02.2013 Government
UBS n/a ULT-AGG 5'930'488 2.21 100'355 01.02.2013 Unclassified
BREWIN DOLPHIN LIMIT Multiple Portfolios REG 5'909'565 2.2 3'414'961 01.02.2013 Investment Advisor
SPEIRS & JEFFERY STO Multiple Portfolios REG 5'755'174 2.14 59'579 01.02.2013 Unclassified
FMR LLC n/a ULT-AGG 5'521'305 2.06 (2'280'341) 01.02.2013 Investment Advisor
SCOTTISH WIDOWS n/a ULT-AGG 4'873'223 1.81 659'991 01.02.2013 Unclassified
KIMBERLEY GRANGE INV Multiple Portfolios REG 4'862'100 1.81 - 01.02.2013 Unclassified
INVESTEC BANK (UK) L Multiple Portfolios REG 4'724'801 1.76 743'000 01.02.2013 Unclassified
VANGUARD GROUP INC Multiple Portfolios MF-AGG 4'684'746 1.74 1'888'342 31.12.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 3'678'747 1.37 (193'744) 01.02.2013 Government
GE ASSET MANAGEMENT Multiple Portfolios REG 3'312'584 1.23 (591'689) 01.02.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 3'125'515 1.16 274'861 01.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Oriel Securities Ltd HECTOR FORSYTHE buy 5 M #N/A N/A Not Provided 27.03.2013
RBC Capital Markets ANDREW BROOKE outperform 5 M 2'100 12 month 20.03.2013
Deutsche Bank ANDY CHU buy 5 U 2'250 12 month 15.03.2013
Westhouse Securities MICHAEL DONNELLY buy 5 N 2'502 12 month 15.03.2013
Jefferies WILLIAM KIRKNESS buy 5 M 2'200 12 month 14.03.2013
Cantor Fitzgerald CAROLINE DE LA SOUJEOLE buy 5 M 2'200 Not Provided 14.03.2013
Peel Hunt ANDREW NUSSEY hold 3 M 1'800 Not Provided 12.03.2013
Goldman Sachs CHARLES WILSON Buy/Neutral 5 M 2'425 12 month 08.03.2013
WH Ireland Ltd NICK SPOLIAR buy 5 M 2'300 12 month 08.03.2013
Numis Securities Ltd MIKE MURPHY hold 3 M 1'938 Not Provided 08.03.2013
Investec JOHN LAWSON buy 5 M 1'940 12 month 07.03.2013
JPMorgan Nicholas de la Grense neutral 3 M 1'870 9 month 07.03.2013
Panmure Gordon & Co Limited PAUL JONES hold 3 M 1'742 Not Provided 07.03.2013
AlphaValue LIONEL PELLICER buy 5 M 2'437 6 month 07.03.2013
Berenberg Bank SIMON MEZZANOTTE hold 3 M 1'720 Not Provided 26.02.2013
HSBC ALEX MAGNI neutral 3 U 1'650 Not Provided 08.02.2013
EVA Dimensions CRAIG STERLING sell 1 M #N/A N/A Not Provided 17.01.2013
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 20.12.2012
Credit Suisse DAVID RIGBY neutral 3 M 1'850 Not Provided 18.12.2012
Espirito Santo Investment Bank ResearchDAVID BROCKTON neutral 3 D 1'700 Not Provided 18.12.2012
S&P Capital IQ CLIVE ROBERTS hold 3 M 2'300 12 month 17.12.2012
Barclays PAUL CHECKETTS overweight 5 M 2'360 Not Provided 22.10.2012
Arden Partners Ltd GEOFF ALLUM neutral 3 M 1'450 12 month 30.09.2011
Holdings By:
Aggreko PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Whitbread PLC is a hotel and restaurant group. The Company operates businesses
operations include the production and distribution of motion pictures and
television programming. The Company provides television, direct satellite, and
cable broadcasting and the publication of newspapers, magazines, books and
promotional inserts.
Latest Fiscal Year: 02/2012
LTM as of: 12/yy
52-Week High (08.02.2013) 2'694.00
52-Week Low (27.03.2012) 1'767.00
Daily Volume
2483
52-Week High % Change -7.98% Dividend Yield 2.15
52-Week Low % Change 40.29% Beta 0.85
% 52 Week Price Range High/Low 81.66% Equity Float 178.84
Shares Out 01.03.2013 179.3 Short Int -
4'451.76 1 Yr Total Return 40.59%
Total Debt 544.60 YTD Return 1.31%
Preferred Stock 0.0 Adjusted BETA 0.846
Minority Interest 6.4 Analyst Recs 24
Cash and Equivalents 40.30 Consensus Rating 3.875
Enterprise Value 4'985.06
Average Volume 5 Day 482'968
WTB LN EQUITY YTD Change - Average Volume 30 Day 567'227
WTB LN EQUITY YTD % CHANGE - Average Volume 3 Month 460'447
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
29.02.2008 28.02.2009 28.02.2010 28.02.2011 29.02.2012 12/yy 12/yy 02/13 Y 02/14 Y - -
1'216.7 1'334.6 1'435.0 1'599.6 1'778.0 - - 2'023.0 2'247.8 - -
2.24x 1.45x 2.16x 2.20x 1.98x - - 2.47x 2.23x - -
339.6 354.6 364.9 427.1 467.3 - - 502.9 553.8 - -
8.04x 5.44x 8.51x 8.23x 7.52x - - 9.91x 9.00x - -
557.9 91.8 161.0 223.3 267.3 - - 261.9 294.6 - -
25.77x 14.17x 15.94x 13.43x 11.13x - - 16.71x 14.86x - -
EBITDA 467.30 Long-Term Rating Date -
EBIT 357.60 Long-Term Rating -
Operating Margin 20.11% Long-Term Outlook -
Pretax Margin 17.20% Short-Term Rating Date -
Return on Assets 9.39% Short-Term Rating -
Return on Common Equity 21.54%
Return on Capital 16.99% EBITDA/Interest Exp. 10.05
Asset Turnover 0.63% (EBITDA-Capex)/Interest Exp. 3.48
Net Debt/EBITDA 1.08
Gross Margin 83.8% Total Debt/EBITDA 1.18
EBITDA Margin 25.7%
EBIT Margin 19.7% Total Debt/Equity 42.7%
Net Income Margin 15.0% Total Debt/Capital 29.8%
Asset Turnover 0.63
Current Ratio 0.40 Net Fixed Asset Turnover 0.74
Quick Ratio 0.24 Accounts receivable turnover-days -
Debt to Assets 18.40% Inventory Days 29.67
Tot Debt to Common Equity 42.65% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -106.02
Inventory Turnover 12.27
Fiscal Year Ended
Whitbread PLCPrice/Volume
Valuation Analysis
95'065.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 106'117'879 6.95 566'560 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 85'939'439 5.63 531'944 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 81'642'663 5.35 (49'269'500) 31.12.2012 Investment Advisor
YACKTMAN ASSET MANAG YACKTMAN ASSET MANAG 13F 80'106'935 5.25 (449'404) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 78'438'973 5.14 4'133'923 26.03.2013 Investment Advisor
DODGE & COX DODGE & COX 13F 73'990'044 4.85 (9'828'325) 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 50'745'635 3.32 1'242'647 31.12.2012 Investment Advisor
CHILDRENS INV FUND M CHILDRENS INVESTMENT 13F 34'348'479 2.25 (12'657'102) 31.12.2012 Hedge Fund Manager
VIKING GLOBAL INVEST VIKING GLOBAL INVEST 13F 34'295'229 2.25 3'537'977 31.12.2012 Hedge Fund Manager
FMR LLC n/a ULT-AGG 31'740'887 2.08 1'713'651 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 29'665'850 1.94 25'400 31.12.2012 Investment Advisor
ETON PARK CAPITAL MA ETON PARK CAPITAL MA 13F 28'100'000 1.84 9'100'000 31.12.2012 Hedge Fund Manager
HIGHFIELDS CAPITAL M HIGHFIELDS CAPITAL M 13F 27'945'300 1.83 (3'592'000) 31.12.2012 Hedge Fund Manager
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 24'797'737 1.62 (375'426) 31.12.2012 Investment Advisor
EAGLE CAPITAL MANAGE EAGLE CAPITAL MANAGE 13F 22'180'447 1.45 1'184'087 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 19'150'391 1.25 (668) 31.12.2012 Government
INVESCO LTD INVESCO LTD 13F 17'590'189 1.15 (3'322'085) 31.12.2012 Investment Advisor
EGERTON CAPITAL LIMI EGERTON CAPITAL LIMI 13F 17'571'378 1.15 2'373'660 31.12.2012 Hedge Fund Manager
LONE PINE CAPITAL LL LONE PINE CAPITAL LL 13F 16'929'453 1.11 2'887'188 31.12.2012 Hedge Fund Manager
WADDELL & REED FINAN WADDELL & REED FINAN 13F 14'275'510 0.94 1'726'350 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
AlphaValue MICHAEL NATHANSON buy 5 M 31 12 month 25.03.2013
Lazard Capital Markets BARTON CROCKETT buy 5 M 35 12 month 24.03.2013
Sanford C. Bernstein & Co TODD JUENGER outperform 5 M 36 12 month 22.03.2013
Needham & Co LAURA A MARTIN buy 5 M 34 12 month 15.03.2013
Morgan Stanley BENJAMIN SWINBURNE Overwt/Attractive 5 M 32 12 month 08.03.2013
Wells Fargo Securities, LLC MARCI RYVICKER outperform 5 M #N/A N/A Not Provided 08.03.2013
Barclays ANTHONY J DICLEMENTE overweight 5 M 33 Not Provided 08.03.2013
Susquehanna Financial Group VASILY KARASYOV Positive 4 M 34 12 month 07.03.2013
Credit Suisse MICHAEL SENNO neutral 3 M 28 Not Provided 06.03.2013
Wedbush JAMES G DIX outperform 5 M 26 12 month 06.03.2013
Macquarie TIMOTHY W NOLLEN outperform 5 M 33 12 month 06.03.2013
Davenport & Co MICHAEL C MORRIS buy 5 M 34 12 month 06.03.2013
Wunderlich Securities MATTHEW HARRIGAN buy 5 M 36 18 month 06.03.2013
S&P Capital IQ TUNA AMOBI buy 5 M 31 Not Provided 06.03.2013
Telsey Advisory Group JAISON BLAIR no rating system #N/A N/A M 34 Not Provided 06.03.2013
RBC Capital Markets DAVID BANK outperform 5 M 32 12 month 05.03.2013
Argus Research Corp JOSEPH F BONNER hold 3 M #N/A N/A Not Provided 20.02.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 11.02.2013
Gabelli & Co BRETT HARRISS buy 5 M #N/A N/A Not Provided 08.02.2013
Evercore Partners ALAN GOULD overweight 5 M 30 12 month 07.02.2013
Cowen and Company DOUGLAS CREUTZ outperform 5 M #N/A N/A Not Provided 07.02.2013
Atlantic Equities LLP HAMILTON FABER overweight 5 M 33 12 month 07.02.2013
Deutsche Bank DOUGLAS D MITCHELSON buy 5 M 32 12 month 28.01.2013
Goldman Sachs DREW BORST not rated #N/A N/A M #N/A N/A Not Provided 28.06.2012
BTIG LLC RICHARD GREENFIELD buy 5 M 30 Not Provided 27.06.2012
Holdings By:
Whitbread PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
GKN plc produces automotive components and aerospace vehicles, and supplies a
and consumers around the world. The Company's products include a speech
recognizer, call steering, and a product that converts text into speech.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (06.03.2013) 291.20
52-Week Low (28.06.2012) 171.50
Daily Volume
264.3
52-Week High % Change -9.31% Dividend Yield 2.73
52-Week Low % Change 53.99% Beta 1.49
% 52 Week Price Range High/Low 79.03% Equity Float 1'628.68
Shares Out 21.03.2013 1'632.9 Short Int -
4'315.71 1 Yr Total Return 28.68%
Total Debt 1'052.00 YTD Return 15.43%
Preferred Stock 0.0 Adjusted BETA 1.494
Minority Interest 353.0 Analyst Recs 15
Cash and Equivalents 181.00 Consensus Rating 3.867
Enterprise Value 5'539.71
Average Volume 5 Day 4'716'385
GKN LN EQUITY YTD Change - Average Volume 30 Day 5'708'944
GKN LN EQUITY YTD % CHANGE - Average Volume 3 Month 4'979'199
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
4'376.0 4'223.0 5'084.0 5'746.0 6'510.0 1'375.6 1'753.1 7'442.5 7'805.4 - -
0.32x 0.52x 0.80x 0.66x 0.76x 20.25x 19.19x 0.73x 0.67x - -
379.0 344.0 570.0 619.0 739.0 287.0 379.8 867.5 969.7 - -
3.68x 6.41x 7.13x 6.17x 6.71x 28.46x 22.20x 6.39x 5.71x - -
(109.0) (36.0) 305.0 279.0 480.0 47.6 175.7 418.6 487.8 - -
- - 11.34x 10.17x 7.58x 46.59x 25.08x 9.94x 8.69x - -
EBITDA 739.00 Long-Term Rating Date 19.04.2002
EBIT 471.00 Long-Term Rating NR
Operating Margin 7.24% Long-Term Outlook -
Pretax Margin 9.03% Short-Term Rating Date -
Return on Assets 8.45% Short-Term Rating -
Return on Common Equity 33.97%
Return on Capital 21.77% EBITDA/Interest Exp. 8.59
Asset Turnover 1.15% (EBITDA-Capex)/Interest Exp. 5.36
Net Debt/EBITDA 1.18
Gross Margin - Total Debt/EBITDA 1.42
EBITDA Margin 11.4%
EBIT Margin 7.2% Total Debt/Equity 66.8%
Net Income Margin 7.4% Total Debt/Capital 35.3%
Asset Turnover 1.15
Current Ratio 1.29 Net Fixed Asset Turnover 3.45
Quick Ratio 0.11 Accounts receivable turnover-days -
Debt to Assets 16.78% Inventory Days -
Tot Debt to Common Equity 66.84% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
GKN PLCPrice/Volume
Valuation Analysis
1'000'885.00
Current Price (3/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
200.0
400.0
600.0
800.0
1'000.0
1'200.0
1'400.0
1'600.0
1'800.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
STANDARD LIFE INVEST WARBURG PINCUS LLC 13F 53'004'254 16.76 - 31.12.2012 Private Equity
WARBURG PINCUS LLC n/a 13D 43'058'531 13.61 (9'945'723) 14.03.2013 Private Equity
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 29'398'004 9.3 (6'904'115) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 17'827'119 5.64 2'746'103 31.12.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 11'852'538 3.75 (214'677) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 11'461'824 3.62 332'670 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 10'658'433 3.37 41'737 25.03.2013 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 10'227'210 3.23 (715'000) 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 8'690'776 2.75 (120'464) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 7'787'480 2.46 (258'843) 31.12.2012 Unclassified
ALLIANZ ASSET MANAGE n/a ULT-AGG 6'720'544 2.12 315'957 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 5'183'885 1.64 (66'250) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 4'322'359 1.37 122'473 31.12.2012 Investment Advisor
RICCI PAUL A n/a Form 4 4'014'898 1.27 - 01.02.2013 n/a
WESTFIELD CAPITAL MG WESTFIELD CAPITAL MA 13F 3'948'645 1.25 338'110 31.12.2012 Investment Advisor
FAIRPOINTE CAPITAL L FAIRPOINTE CAPITAL L 13F 3'843'339 1.22 104'968 31.12.2012 Investment Advisor
PIONEER INVESTMENT M PIONEER INVESTMENT M 13F 3'545'481 1.12 593'927 31.12.2012 Investment Advisor
LUTHER KING CAPITAL LUTHER KING CAPITAL 13F 2'994'953 0.95 (6'741) 31.12.2012 Investment Advisor
LORD ABBETT & CO LLC LORD ABBETT & CO LLC 13F 2'812'375 0.89 58'903 31.12.2012 Investment Advisor
ING INV MANAGEMENT E ING INVESTMENT MANAG 13F 2'652'333 0.84 406'379 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale GRAY W POWELL market perform 3 M #N/A N/A Not Provided 15.03.2013
Avondale Partners LLC JOHN F BRIGHT market outperform 4 M 35 12 month 12.03.2013
Raymond James SHYAM PATIL strong buy 5 M 28 12 month 06.03.2013
Mizuho Securities USA Inc JOANNA MAKRIS buy 5 M 26 12 month 04.03.2013
B Riley & Company, Inc DANIEL CUMMINS neutral 3 N 21 Not Provided 20.02.2013
Morgan Stanley JENNIFER LOWE Overwt/In-Line 5 M 28 12 month 08.02.2013
Goldman Sachs GREG DUNHAM neutral/neutral 3 M 22 12 month 08.02.2013
Needham & Co SCOTT ZELLER hold 3 D #N/A N/A Not Provided 08.02.2013
FBR Capital Markets DANIEL H IVES outperform 5 M 28 12 month 08.02.2013
Stifel TOM RODERICK hold 3 D #N/A N/A Not Provided 08.02.2013
Oppenheimer & Co SHAUL EYAL outperform 5 M 30 12 month 08.02.2013
Craig-Hallum Capital Group LLC JEFF VAN RHEE hold 3 D 24 12 month 08.02.2013
Northland Securities Inc MICHAEL JAMES LATIMORE outperform 5 M 26 12 month 08.02.2013
Canaccord Genuity Corp RICHARD DAVIS JR buy 5 M 26 12 month 07.02.2013
Piper Jaffray MARK R MURPHY neutral 3 M 22 12 month 07.02.2013
EVA Dimensions ANDREW S ZAMFOTIS sell 1 M #N/A N/A Not Provided 15.01.2013
Deutsche Bank NANDAN AMLADI buy 5 M 30 12 month 15.11.2012
Wedbush SCOTT P SUTHERLAND underperform 1 M 19 12 month 07.08.2012
Wedge Partners BRIAN BLAIR no rating system #N/A N/A M #N/A N/A Not Provided 15.03.2012
Holdings By:
GKN PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Bunzl plc is a distribution group supplying a range of non-food consumable
graphics processors and related software. The Company's products provide
interactive 3D graphics to the mainstream personal computer market.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (06.03.2013) 1'328.00
52-Week Low (29.03.2012) 985.50
Daily Volume
1275
52-Week High % Change -4.22% Dividend Yield 2.22
52-Week Low % Change 29.07% Beta 0.77
% 52 Week Price Range High/Low 88.61% Equity Float 314.64
Shares Out 15.03.2013 332.2 Short Int -
4'235.13 1 Yr Total Return 29.72%
Total Debt 829.50 YTD Return 26.07%
Preferred Stock 0.0 Adjusted BETA 0.773
Minority Interest 0.0 Analyst Recs 19
Cash and Equivalents 81.20 Consensus Rating 2.579
Enterprise Value 4'983.43
Average Volume 5 Day 792'362
BNZL LN EQUITY YTD Change - Average Volume 30 Day 708'405
BNZL LN EQUITY YTD % CHANGE - Average Volume 3 Month 599'055
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y - -
4'177.3 4'648.7 4'829.6 5'109.5 5'359.2 - - 5'959.6 6'152.3 - -
0.71x 0.67x 0.68x 0.74x 0.81x - - 0.82x 0.77x - -
297.9 319.7 331.7 361.3 375.2 - - 413.7 433.3 - -
10.01x 9.72x 9.88x 10.52x 11.55x - - 12.05x 11.50x - -
142.2 148.9 159.0 123.8 195.3 - - 252.7 269.6 - -
13.25x 14.53x 14.64x 23.14x 16.85x - - 16.67x 15.72x - -
EBITDA 375.20 Long-Term Rating Date -
EBIT 293.60 Long-Term Rating -
Operating Margin 5.48% Long-Term Outlook -
Pretax Margin 5.03% Short-Term Rating Date -
Return on Assets 6.87% Short-Term Rating -
Return on Common Equity 23.08%
Return on Capital 14.20% EBITDA/Interest Exp. 7.42
Asset Turnover 1.89% (EBITDA-Capex)/Interest Exp. 6.96
Net Debt/EBITDA 1.99
Gross Margin - Total Debt/EBITDA 2.21
EBITDA Margin 7.0%
EBIT Margin 5.5% Total Debt/Equity 93.7%
Net Income Margin 3.6% Total Debt/Capital 48.4%
Asset Turnover 1.89
Current Ratio 1.23 Net Fixed Asset Turnover 48.63
Quick Ratio 0.62 Accounts receivable turnover-days 43.61
Debt to Assets 28.20% Inventory Days -
Tot Debt to Common Equity 93.68% Accounts Payable Turnover Day -
Accounts Receivable Turnover 8.39 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
Bunzl PLCPrice/Volume
Valuation Analysis
122'140.00
Current Price (3/dd/yy) Market Data
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1'500.0
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3'500.0
4'000.0
4'500.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SUN LIFE FINANCIAL I n/a ULT-AGG 79'493'214 12.91 (9'978'177) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 37'668'172 6.12 1'164'492 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 32'149'359 5.22 - 25.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 25'512'316 4.14 609'454 25.03.2013 Investment Advisor
HUANG JEN-HSUN n/a Form 4 22'168'135 3.6 - 20.03.2013 n/a
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 17'973'300 2.92 (979'500) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 14'176'500 2.3 (12'739'300) 31.12.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 11'701'670 1.9 3'158'033 31.12.2012 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 11'551'047 1.88 7'413'768 31.12.2012 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 8'945'165 1.45 645'257 31.12.2012 Investment Advisor
ROBECO INVESTMENT MG ROBECO INVESTMENT MA 13F 8'041'269 1.31 6'139'523 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 7'938'442 1.29 108'110 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 7'745'598 1.26 (498'513) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 6'491'625 1.05 245'590 31.12.2012 Investment Advisor
FAIRPOINTE CAPITAL L FAIRPOINTE CAPITAL L 13F 5'915'747 0.96 786'088 31.12.2012 Investment Advisor
CONTRARIUS INVESTMEN CONTRARIUS INVESTMEN 13F 5'785'902 0.94 942'748 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 5'155'045 0.84 713'619 31.12.2012 Government
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 4'243'814 0.69 (1'293'529) 31.12.2012 Investment Advisor
GEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 4'076'221 0.66 (36'419) 31.12.2012 Investment Advisor
CHARLES SCHWAB INVES CHARLES SCHWAB INVES 13F 3'757'015 0.61 2'239'918 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
HSBC AMBRISH SRIVASTAVA market perform 3 M 12 Not Provided 25.03.2013
Raymond James HANS C MOSESMANN strong buy 5 M 17 12 month 25.03.2013
Wells Fargo Securities, LLC DAVID M WONG outperform 5 M #N/A N/A Not Provided 25.03.2013
Sterne, Agee & Leach VIJAY R RAKESH neutral 3 M #N/A N/A Not Provided 24.03.2013
Evercore Partners PATRICK WANG underweight 1 M 11 12 month 24.03.2013
MKM Partners DANIEL A BERENBAUM neutral 3 M 14 12 month 22.03.2013
Wedbush BETSY VAN HEES outperform 5 M 17 12 month 20.03.2013
B Riley & Company, Inc CRAIG ELLIS neutral 3 M 13 Not Provided 20.03.2013
Stifel KEVIN E CASSIDY buy 5 M 18 12 month 20.03.2013
Nomura ROMIT SHAH buy 5 M 15 12 month 20.03.2013
JMP Securities ALEX GAUNA market perform 3 M #N/A N/A Not Provided 20.03.2013
Longbow Research JOANNE FEENEY neutral 3 M #N/A N/A Not Provided 20.03.2013
Susquehanna Financial Group CHRISTOPHER CASO negative 2 M 11 12 month 20.03.2013
RBC Capital Markets DOUG FREEDMAN sector perform 3 M 12 12 month 19.03.2013
JPMorgan HARLAN SUR neutral 3 M 14 9 month 19.03.2013
Oppenheimer & Co RICHARD SCHAFER market perform 3 M #N/A N/A Not Provided 19.03.2013
Barclays BLAYNE CURTIS equalweight 3 M 13 Not Provided 18.03.2013
Tigress Financial Partners IVAN FEINSETH neutral 3 N #N/A N/A Not Provided 18.03.2013
FBR Capital Markets CHRISTOPHER ROLLAND market perform 3 M 14 12 month 04.03.2013
Miller Tabak + Co., LLC BRENDAN FURLONG buy 5 M 17 12 month 20.02.2013
Wedge Partners BRIAN BLAIR no rating system #N/A N/A M #N/A N/A Not Provided 20.02.2013
Deutsche Bank ROSS C SEYMORE hold 3 M 13 12 month 14.02.2013
Morgan Stanley JOSEPH MOORE Equalwt/In-Line 3 M #N/A N/A Not Provided 14.02.2013
Brean Murray Carret & Co MIKE BURTON hold 3 M #N/A N/A Not Provided 14.02.2013
Roth Capital Partners KRISHNA SHANKAR buy 5 M 17 12 month 14.02.2013
Jefferies MARK J LIPACIS hold 3 M 14 12 month 14.02.2013
Needham & Co RAJVINDRA S. GILL hold 3 D #N/A N/A Not Provided 14.02.2013
Macquarie SHAWN WEBSTER neutral 3 M 14 12 month 14.02.2013
Lazard Capital Markets DANIEL L AMIR neutral 3 M #N/A N/A Not Provided 14.02.2013
Goldman Sachs JAMES SCHNEIDER neutral/attractive 3 M 14 12 month 13.02.2013
Pacific Crest Securities MICHAEL MCCONNELL sector perform 3 M #N/A N/A Not Provided 13.02.2013
Canaccord Genuity Corp ROBERT BURLESON buy 5 M 16 12 month 13.02.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013
Hudson Square Research DANIEL ERNST buy 5 U 18 Not Provided 10.05.2010
Holdings By:
Bunzl PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
RSA Insurance Group PLC is a worldwide commercial insurer. The Company
tools, supplies, equipment, and accessories. The Company sells its products to
do-it-yourself customers and professional mechanics or service technicians.
O'Reilly operates stores throughout the United States.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (19.02.2013) 137.30
52-Week Low (18.05.2012) 97.00
Daily Volume
115.6
52-Week High % Change -15.88% Dividend Yield 6.33
52-Week Low % Change 19.07% Beta 1.00
% 52 Week Price Range High/Low 47.39% Equity Float 3'585.14
Shares Out 25.03.2013 3'598.3 Short Int -
4'159.63 1 Yr Total Return 8.33%
Total Debt 1'607.00 YTD Return -8.11%
Preferred Stock 125.0 Adjusted BETA 0.996
Minority Interest 129.0 Analyst Recs 28
Cash and Equivalents 1'329.00 Consensus Rating 2.857
Enterprise Value 4'691.63
Average Volume 5 Day 10'200'920
RSA LN EQUITY YTD Change - Average Volume 30 Day 17'611'160
RSA LN EQUITY YTD % CHANGE - Average Volume 3 Month 13'677'100
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 09/11 Q3 12/11 Q4
7'143.0 7'458.0 7'924.0 8'735.0 8'842.0 5'788.8 6'182.2 8'908.9 9'316.5 - -
0.67x 0.67x 0.62x 0.49x 0.57x 6.40x 7.07x 0.41x 0.45x - -
- - - - - 1'029.8 1'154.5 - - - -
- - - - - 10.30x 9.48x - - - -
574.0 418.0 346.0 426.0 344.0 507.7 585.7 452.9 484.4 - -
3.97x 4.88x 6.23x 8.86x 13.26x 20.93x 18.83x 9.25x 8.89x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating NR
Operating Margin 6.79% Long-Term Outlook -
Pretax Margin 5.42% Short-Term Rating Date -
Return on Assets 1.52% Short-Term Rating -
Return on Common Equity 9.02%
Return on Capital 7.91% EBITDA/Interest Exp. -
Asset Turnover 0.39% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 44.3%
Net Income Margin 3.9% Total Debt/Capital 29.3%
Asset Turnover 0.39
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 7.05% Inventory Days -
Tot Debt to Common Equity 44.33% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
RSA Insurance Group PLCPrice/Volume
Valuation Analysis
2'924'085.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES VANGUARD GROUP INC 13F 7'468'481 6.71 (303'624) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 7'108'025 6.39 206'740 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 6'109'760 5.49 (234'802) 25.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 4'888'553 4.39 (40'817) 25.03.2013 Investment Advisor
RUANE CUNNIFF & GOLD RUANE CUNNIFF & GOLD 13F 3'658'781 3.29 (3'711) 31.12.2012 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 2'624'914 2.36 175'909 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 2'623'402 2.36 (1'360'800) 31.12.2012 Investment Advisor
PRINCIPAL FINANCIAL n/a ULT-AGG 2'201'413 1.98 87'264 31.12.2012 Investment Advisor
LONE PINE CAPITAL LL LONE PINE CAPITAL LL 13F 2'164'498 1.94 639'137 31.12.2012 Hedge Fund Manager
CITADEL ADVISORS LLC CITADEL ADVISORS LLC 13F 2'121'541 1.91 2'112'349 31.12.2012 Hedge Fund Manager
SELECT EQUITY GROUP SELECT EQUITY GROUP 13F 2'106'437 1.89 (846'503) 31.12.2012 Hedge Fund Manager
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 2'080'092 1.87 (43'557) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 1'769'464 1.59 323'143 31.12.2012 Investment Advisor
GAMCO n/a ULT-AGG 1'762'790 1.58 61'805 31.12.2012 Unclassified
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 1'667'578 1.5 107'970 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 1'666'774 1.5 393'150 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'538'303 1.38 (30'510) 31.12.2012 Investment Advisor
O'REILLY DAVID E n/a Form 4 1'480'017 1.33 (502) 08.02.2013 n/a
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 1'414'240 1.27 459'235 31.12.2012 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 1'350'050 1.21 (1'155'963) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Keefe, Bruyette & Woods DAVID A SCHICK buy 5 M 102 12 month 26.03.2013
Piper Jaffray PETER J KEITH neutral 3 M 97 12 month 25.03.2013
ISI Group GREGORY MELICH neutral 3 M 106 12 month 24.03.2013
Northcoast Research NICHOLAS MITCHELL neutral 3 M #N/A N/A Not Provided 13.03.2013
Sanford C. Bernstein & Co COLIN MCGRANAHAN market perform 3 M 106 12 month 12.03.2013
Edward Jones BRIAN YARBROUGH buy 5 M #N/A N/A Not Provided 05.03.2013
Raymond James DANIEL R WEWER JR strong buy 5 M 112 12 month 05.03.2013
Nomura ARAM RUBINSON neutral 3 M 98 12 month 01.03.2013
EVA Dimensions CRAIG STERLING overweight 5 D #N/A N/A Not Provided 11.02.2013
Deutsche Bank MICHAEL BAKER hold 3 M 102 12 month 08.02.2013
Morgan Stanley DAVID GOBER Overwt/In-Line 5 M 108 12 month 08.02.2013
Goldman Sachs MATTHEW J FASSLER neutral/neutral 3 M 110 12 month 08.02.2013
JPMorgan CHRISTOPHER HORVERS neutral 3 M 106 9 month 08.02.2013
Stephens Inc JOHN R LAWRENCE overweight 5 M 115 12 month 08.02.2013
BB&T Capital Markets BRET D JORDAN buy 5 M 112 12 month 08.02.2013
Gabelli & Co BRIAN SPONHEIMER buy 5 M #N/A N/A Not Provided 08.02.2013
RBC Capital Markets R SCOT CICCARELLI outperform 5 M 113 12 month 07.02.2013
Credit Suisse GARY BALTER outperform 5 M 115 Not Provided 07.02.2013
Robert W. Baird & Co CRAIG R KENNISON neutral 3 M 110 12 month 07.02.2013
Oppenheimer & Co BRIAN NAGEL market perform 3 M 92 18 month 07.02.2013
S&P Capital IQ MICHAEL SOUERS buy 5 M 112 Not Provided 07.02.2013
Barclays ALAN M RIFKIN overweight 5 M 120 Not Provided 07.02.2013
William Blair & Co DANIEL H HOFKIN outperform 5 M #N/A N/A Not Provided 06.02.2013
Holdings By:
RSA Insurance Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
IMI PLC manufactures fluid controls, retail displays, and other products. The
Company offers databases and relational servers, application development and
decision support tools, and enterprise business applications. Oracle's software
runs on network computers, personal digital assistants, set-top devices, PCs,
workstations, minicomputers, mainframes, and massively parallel computers.
Latest Fiscal Year: 12/2012
LTM as of: 02/yy
52-Week High (07.03.2013) 1'370.00
52-Week Low (26.07.2012) 763.50
Daily Volume
1298
52-Week High % Change -5.26% Dividend Yield 2.50
52-Week Low % Change 70.01% Beta 1.52
% 52 Week Price Range High/Low 88.62% Equity Float 319.44
Shares Out 26.03.2013 320.7 Short Int -
4'163.02 1 Yr Total Return 37.07%
Total Debt 246.60 YTD Return 18.32%
Preferred Stock 0.0 Adjusted BETA 1.518
Minority Interest 48.0 Analyst Recs 22
Cash and Equivalents 123.20 Consensus Rating 3.591
Enterprise Value 4'334.42
Average Volume 5 Day 830'061
IMI LN EQUITY YTD Change - Average Volume 30 Day 766'288
IMI LN EQUITY YTD % CHANGE - Average Volume 3 Month 661'267
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 02/yy 02/yy 12/13 Y 12/14 Y - -
1'897.0 1'785.0 1'917.0 2'135.0 2'192.0 - - 2'293.3 2'388.4 - -
0.64x 1.07x 1.77x 1.28x 1.69x - - 1.87x 1.73x - -
275.0 308.6 370.0 420.5 418.7 - - 454.1 485.4 - -
4.40x 6.21x 9.16x 6.48x 8.83x - - 9.55x 8.93x - -
112.9 130.2 224.7 200.4 230.6 - - 276.3 301.0 - -
7.68x 12.71x 14.23x 12.03x 15.12x - - 14.89x 13.62x - -
EBITDA 418.70 Long-Term Rating Date -
EBIT 343.40 Long-Term Rating -
Operating Margin 15.67% Long-Term Outlook -
Pretax Margin 14.46% Short-Term Rating Date -
Return on Assets 13.34% Short-Term Rating -
Return on Common Equity 38.42%
Return on Capital 27.71% EBITDA/Interest Exp. 19.57
Asset Turnover 1.27% (EBITDA-Capex)/Interest Exp. 17.74
Net Debt/EBITDA 0.29
Gross Margin 42.5% Total Debt/EBITDA 0.59
EBITDA Margin 19.1%
EBIT Margin 15.7% Total Debt/Equity 38.8%
Net Income Margin 10.5% Total Debt/Capital 26.5%
Asset Turnover 1.27
Current Ratio 1.84 Net Fixed Asset Turnover 8.88
Quick Ratio 0.26 Accounts receivable turnover-days -
Debt to Assets 14.30% Inventory Days -
Tot Debt to Common Equity 38.80% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 70.78
Inventory Turnover -
Fiscal Year Ended
IMI PLCPrice/Volume
Valuation Analysis
135'167.00
Current Price (3/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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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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
STANDARD LIFE INVEST n/a Form 4 1'112'434'580 23.62 7'200'000 28.12.2012 n/a
CAPITAL GROUP COMPAN n/a ULT-AGG 249'496'992 5.3 (12'392'864) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 222'486'587 4.72 (374'398) 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 171'937'103 3.65 1'391'323 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 159'352'080 3.38 6'018'875 26.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 78'316'425 1.66 1'366'222 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 77'278'005 1.64 (4'612'811) 31.12.2012 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 76'931'851 1.63 (1'872'445) 31.01.2013 Investment Advisor
FMR LLC n/a ULT-AGG 75'285'789 1.6 15'270'822 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 65'680'186 1.39 (2'439'523) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 56'379'053 1.2 (610'493) 31.12.2012 Investment Advisor
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 49'190'816 1.04 (1'571'164) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 43'932'887 0.93 (11'533'565) 31.12.2012 Unclassified
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 39'724'493 0.84 4'197'117 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 38'397'212 0.82 1'152'929 31.12.2012 Government
JANUS CAPITAL MANAGE n/a ULT-AGG 32'702'179 0.69 (4'513'686) 31.12.2012 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 32'112'868 0.68 (1'663'800) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 28'440'138 0.6 (2'801'171) 31.12.2012 Investment Advisor
ABERDEEN n/a ULT-AGG 27'001'141 0.57 (120'100) 31.12.2012 Unclassified
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 26'051'615 0.55 (6'302'603) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale RICHARD NGUYEN hold 3 M 37 12 month 26.03.2013
Jefferies ROSS MACMILLAN hold 3 M 36 12 month 26.03.2013
Sanford C. Bernstein & Co MARK L MOERDLER market perform 3 M 34 12 month 26.03.2013
BMO Capital Markets KARL KEIRSTEAD outperform 5 M 43 Not Provided 25.03.2013
Morgan Stanley KEITH WEISS Overwt/In-Line 5 M 39 12 month 25.03.2013
Wedbush STEVEN R KOENIG neutral 3 M 36 12 month 25.03.2013
William Blair & Co LAURA J LEDERMAN outperform 5 M #N/A N/A Not Provided 25.03.2013
Raymond James MICHAEL TURITS outperform 5 M 36 12 month 25.03.2013
Macquarie BRAD A ZELNICK neutral 3 M 36 12 month 25.03.2013
Stifel BRAD REBACK buy 5 M 37 12 month 25.03.2013
Wells Fargo Securities, LLC JASON MAYNARD outperform 5 M #N/A N/A Not Provided 25.03.2013
Lazard Capital Markets JOEL P FISHBEIN JR buy 5 M 41 12 month 25.03.2013
Longbow Research KEVIN M BUTTIGIEG buy 5 M 38 12 month 25.03.2013
Barclays RAIMO LENSCHOW overweight 5 M 38 Not Provided 25.03.2013
Edward Jones JOSH OLSON buy 5 M #N/A N/A Not Provided 22.03.2013
FBR Capital Markets DAVID M HILAL outperform 5 M 39 12 month 22.03.2013
Atlantic Equities LLP CHRISTOPHER HICKEY neutral 3 M 33 12 month 22.03.2013
Deutsche Bank THOMAS ERNST JR hold 3 M 29 12 month 21.03.2013
RBC Capital Markets MATTHEW HEDBERG outperform 5 M 37 12 month 21.03.2013
Argus Research Corp JOSEPH F BONNER buy 5 M 39 12 month 21.03.2013
Credit Suisse PHILIP WINSLOW outperform 5 M 40 Not Provided 21.03.2013
JPMorgan JOHN DIFUCCI overweight 5 M 40 9 month 21.03.2013
Janney Montgomery Scott LLC YUN KIM buy 5 M 43 12 month 21.03.2013
Pacific Crest Securities BRENDAN BARNICLE outperform 5 M 44 12 month 21.03.2013
Davenport & Co F DRAKE JOHNSTONE buy 5 M 40 12 month 21.03.2013
Canaccord Genuity Corp RICHARD DAVIS JR buy 5 M 42 12 month 21.03.2013
Berenberg Bank DAUD KHAN buy 5 M 35 Not Provided 21.03.2013
Nomura RICHARD G SHERLUND buy 5 M 39 12 month 21.03.2013
Cowen and Company PETER GOLDMACHER neutral 3 M #N/A N/A Not Provided 21.03.2013
JMP Securities PATRICK WALRAVENS market perform 3 M #N/A N/A Not Provided 21.03.2013
Susquehanna Financial Group J DERRICK WOOD Positive 4 M 40 12 month 21.03.2013
Cross Research RICHARD T WILLIAMS hold 3 M 35 12 month 21.03.2013
Piper Jaffray MARK R MURPHY overweight 5 M 37 12 month 21.03.2013
MKM Partners ISRAEL HERNANDEZ buy 5 M 38 12 month 21.03.2013
Credit Agricole Securities (USA) EDWARD MAGUIRE underperform 1 D 35 Not Provided 21.03.2013
Evercore Partners STEWART KIRK MATERNE III equalweight 3 D 36 12 month 20.03.2013
Oppenheimer & Co BRIAN SCHWARTZ outperform 5 M 40 12 month 20.03.2013
EVA Dimensions ANDREW S ZAMFOTIS overweight 5 D #N/A N/A Not Provided 21.02.2013
Tigress Financial Partners IVAN FEINSETH buy 5 N #N/A N/A Not Provided 20.02.2013
Goldman Sachs HEATHER BELLINI Buy/Neutral 5 M 39 12 month 24.01.2013
Daiwa Securities Co. Ltd. KAZUYA NISHIMURA outperform 5 M 38 Not Provided 24.12.2012
Hamburger Sparkasse MARCO GUENTHER hold 3 M #N/A N/A Not Provided 19.12.2012
Holdings By:
IMI PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Rexam Plc manufactures and distributes packaging materials. The Company
heavy-duty trucks, and related aftermarket distribution of parts. The Company
also offers finance and leasing services to its customers and dealers.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (27.03.2013) 531.50
52-Week Low (25.05.2012) 391.87
Daily Volume
522.5
52-Week High % Change -1.69% Dividend Yield 2.91
52-Week Low % Change 33.33% Beta 0.85
% 52 Week Price Range High/Low 92.09% Equity Float 789.09
Shares Out 06.03.2013 790.6 Short Int 0.00
4'130.63 1 Yr Total Return 24.94%
Total Debt 2'212.00 YTD Return 19.34%
Preferred Stock 0.0 Adjusted BETA 0.847
Minority Interest 0.0 Analyst Recs 15
Cash and Equivalents 1'307.00 Consensus Rating 4.000
Enterprise Value 5'035.63
Average Volume 5 Day 1'393'022
REX LN EQUITY YTD Change - Average Volume 30 Day 1'852'048
REX LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'719'710
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
4'618.0 4'533.0 4'619.0 4'232.0 4'312.0 - - 4'562.6 4'720.5 - -
1.09x 1.00x 1.01x 1.07x 1.10x - - 1.12x 1.06x - -
644.0 619.0 710.0 673.0 671.0 - - 694.4 728.0 - -
7.83x 7.32x 6.60x 6.72x 7.06x - - 7.25x 6.92x - -
172.0 (29.0) 124.0 376.0 214.0 - - 322.3 349.0 - -
13.10x 25.49x 12.28x 10.66x 14.39x - - 12.71x 11.72x - -
EBITDA 671.00 Long-Term Rating Date 19.02.2009
EBIT 493.00 Long-Term Rating BBB-
Operating Margin 11.43% Long-Term Outlook STABLE
Pretax Margin 8.21% Short-Term Rating Date 22.02.2006
Return on Assets 3.43% Short-Term Rating A-3
Return on Common Equity 9.29%
Return on Capital 6.82% EBITDA/Interest Exp. 6.16
Asset Turnover 0.69% (EBITDA-Capex)/Interest Exp. 3.49
Net Debt/EBITDA 1.35
Gross Margin - Total Debt/EBITDA 3.30
EBITDA Margin 15.6%
EBIT Margin 11.4% Total Debt/Equity 96.7%
Net Income Margin 5.0% Total Debt/Capital 49.2%
Asset Turnover 0.69
Current Ratio 1.12 Net Fixed Asset Turnover 2.83
Quick Ratio 0.86 Accounts receivable turnover-days 40.70
Debt to Assets 34.76% Inventory Days -
Tot Debt to Common Equity 96.72% Accounts Payable Turnover Day -
Accounts Receivable Turnover 8.99 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
Rexam PLCPrice/Volume
Valuation Analysis
472'150.00
Current Price (3/dd/yy) Market Data
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4'000.0
6'000.0
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10'000.0
12'000.0
14'000.0
16'000.0
18'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES n/a ULT-AGG 23'256'303 6.58 1'822'240 31.12.2012 Unclassified
BLACKROCK n/a ULT-AGG 18'461'288 5.22 849'346 25.03.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 16'314'903 4.62 1'220'425 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 15'213'703 4.3 289'007 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 15'159'900 4.29 (2'646'713) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 13'607'825 3.85 499'538 26.03.2013 Investment Advisor
DAVIS SELECTED ADVIS DAVIS SELECTED ADVIS 13F 8'943'143 2.53 (506'101) 31.12.2012 Investment Advisor
FIDUCIARY MANAGEMENT FIDUCIARY MANAGEMENT 13F 5'994'403 1.7 5'994'403 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 4'801'832 1.36 (26'056) 31.12.2012 Investment Advisor
HOTCHKIS & WILEY CAP HOTCHKIS AND WILEY 13F 4'668'942 1.32 (2'196'600) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 4'504'875 1.27 45'025 31.12.2012 Investment Advisor
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 4'228'702 1.2 (651'306) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 3'766'406 1.07 (407'964) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 3'580'078 1.01 (118'991) 31.12.2012 Investment Advisor
PIGOTT MARK CHARLES n/a Form 4 3'314'022 0.94 295 05.03.2013 n/a
NORGES BANK NORGES BANK 13F 3'001'169 0.85 489'739 31.12.2012 Government
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 2'892'300 0.82 726'600 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 2'792'880 0.79 1'838'017 31.12.2012 Investment Advisor
US BANCORP US BANCORP 13F 2'470'981 0.7 3'453 31.12.2012 Investment Advisor
GEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 2'286'146 0.65 29'627 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse KRISTINE KUBACKI market perform 3 M 44 12 month 26.03.2013
Robert W. Baird & Co DAVID LEIKER neutral 3 M 41 12 month 25.03.2013
Wolfe Trahan & Co TIMOTHY J DENOYER underperform 1 M 36 12 month 25.03.2013
BMO Capital Markets JOEL G TISS outperform 5 M 57 Not Provided 22.03.2013
Jefferies STEPHEN VOLKMANN buy 5 M 55 12 month 22.03.2013
Sterne, Agee & Leach JEFFREY A KAUFFMAN neutral 3 M #N/A N/A Not Provided 22.03.2013
Wells Fargo Securities, LLC ANDREW M CASEY outperform 5 M #N/A N/A Not Provided 22.03.2013
Piper Jaffray ALEXANDER E POTTER overweight 5 M 55 12 month 20.03.2013
Northcoast Research BRIAN M RAYLE buy 5 M 55 12 month 19.03.2013
D.A. Davidson & Co JB GROH buy 5 M 65 18 month 18.03.2013
Edward Jones LOGAN PURK hold 3 M #N/A N/A Not Provided 12.03.2013
RBC Capital Markets SETH R WEBER sector perform 3 M 50 12 month 04.03.2013
BB&T Capital Markets A RHEM WOOD JR hold 3 M #N/A N/A Not Provided 04.02.2013
Deutsche Bank PATRICK NOLAN hold 3 M 50 12 month 01.02.2013
Barclays ANDY KAPLOWITZ equalweight 3 M 44 Not Provided 01.02.2013
Credit Suisse JAMIE L COOK neutral 3 M 47 Not Provided 31.01.2013
JPMorgan ANN DUIGNAN neutral 3 M 47 9 month 31.01.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 15.01.2013
Goldman Sachs JERRY REVICH neutral/neutral 3 M 48 12 month 04.01.2013
McAdams Wright Ragen Inc MICHAEL ROARKE hold 3 M 60 12 month 26.10.2012
Holdings By:
Rexam PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
International Consolidated Airlines Group SA provides international and
employee benefits outsourcing solutions for small- to medium-sized businesses
in the United States. The Company's services range from calculating payroll and
filing tax payments to administering retirement plans and workers' compensation.
Latest Fiscal Year: 12/2012
LTM as of: 11/yy
52-Week High (15.03.2013) 274.00
52-Week Low (28.05.2012) 136.00
Daily Volume
250.8
52-Week High % Change -8.47% Dividend Yield 0.00
52-Week Low % Change 84.41% Beta 1.40
% 52 Week Price Range High/Low 86.88% Equity Float 1'628.87
Shares Out 28.02.2013 1'855.4 Short Int -
4'653.27 1 Yr Total Return 40.74%
Total Debt 4'798.00 YTD Return 35.71%
Preferred Stock 0.0 Adjusted BETA 1.399
Minority Interest 300.0 Analyst Recs 35
Cash and Equivalents 2'909.00 Consensus Rating 3.686
Enterprise Value 7'692.64
Average Volume 5 Day 6'540'326
IAG LN EQUITY YTD Change - Average Volume 30 Day 7'595'583
IAG LN EQUITY YTD % CHANGE - Average Volume 3 Month 6'781'712
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 11/yy 11/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
- 13'456.0 14'798.0 16'103.0 18'117.0 2'162.8 2'268.6 18'509.3 19'273.9 - -
- 0.41x 0.48x 0.29x 0.35x 19.59x 19.67x 0.46x 0.45x - -
- (134.0) 1'069.0 1'505.0 1'391.0 924.8 972.1 1'673.2 2'110.7 - -
- - 6.58x 3.14x 4.61x 10.96x 11.86x 4.60x 3.64x - -
- (777.0) 100.0 562.0 (943.0) 538.8 559.7 262.6 569.8 - -
- - 58.52x 5.67x - 19.56x 21.13x 24.52x 10.23x - -
EBITDA 1'391.00 Long-Term Rating Date -
EBIT -23.00 Long-Term Rating -
Operating Margin -0.13% Long-Term Outlook -
Pretax Margin -5.50% Short-Term Rating Date -
Return on Assets -4.76% Short-Term Rating -
Return on Common Equity -18.60%
Return on Capital - EBITDA/Interest Exp. 2.60
Asset Turnover 0.92% (EBITDA-Capex)/Interest Exp. 0.28
Net Debt/EBITDA 1.36
Gross Margin - Total Debt/EBITDA 3.45
EBITDA Margin 7.7%
EBIT Margin -0.1% Total Debt/Equity 100.9%
Net Income Margin -5.2% Total Debt/Capital 48.7%
Asset Turnover 0.92
Current Ratio 0.66 Net Fixed Asset Turnover 1.86
Quick Ratio 0.54 Accounts receivable turnover-days 23.47
Debt to Assets 24.19% Inventory Days -
Tot Debt to Common Equity 100.90% Accounts Payable Turnover Day -
Accounts Receivable Turnover 15.59 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
International Consolidated Airlines Group SAPrice/Volume
Valuation Analysis
2'474'474.00
Current Price (3/dd/yy) Market Data
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500.0
1'000.0
1'500.0
2'000.0
2'500.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BANKIA SA n/a Form 4 37'657'753 10.35 (21'975) 27.12.2012 n/a
CAPITAL GROUP COMPAN n/a ULT-AGG 31'260'364 8.59 - 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 21'056'674 5.79 3'918'327 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 17'344'339 4.77 5'873'342 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 17'128'429 4.71 403'746 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 14'408'697 3.96 560'492 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 12'948'892 3.56 263'449 26.03.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 8'970'426 2.47 957'885 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 7'788'270 2.14 9'133 31.12.2012 Unclassified
GENERAL ELECTRIC COM GENERAL ELECTRIC COM 13F 6'532'589 1.8 (302'963) 31.12.2012 Corporation
INVESCO LTD INVESCO LTD 13F 5'640'812 1.55 (170'531) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 4'605'086 1.27 (27'271) 31.12.2012 Investment Advisor
PARNASSUS INVESTMENT PARNASSUS INVESTMENT 13F 3'780'000 1.04 10'000 31.12.2012 Investment Advisor
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 3'680'600 1.01 1'244'500 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 3'283'336 0.9 (812'816) 31.12.2012 Investment Advisor
SELECT EQUITY GROUP SELECT EQUITY GROUP 13F 3'166'795 0.87 (511'503) 31.12.2012 Hedge Fund Manager
NORGES BANK NORGES BANK 13F 2'970'094 0.82 320'357 31.12.2012 Government
MANAGED ACCOUNT ADVI MANAGED ACCOUNT ADVI 13F 2'915'069 0.8 179'459 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 2'819'076 0.78 114'620 31.12.2012 Unclassified
UBS n/a ULT-AGG 2'649'962 0.73 190'034 31.01.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Day by Day RODERICK BOURGEOIS market perform 3 M 29 12 month 27.03.2013
RBC Capital Markets DANIEL R PERLIN sector perform 3 M 34 12 month 26.03.2013
Credit Agricole Securities (USA) CRAIG J MAURER sell 1 M 30 Not Provided 26.03.2013
Stifel DAVID M GROSSMAN hold 3 M #N/A N/A Not Provided 21.03.2013
Wells Fargo Securities, LLC TIMOTHY W WILLI market perform 3 M #N/A N/A Not Provided 21.03.2013
Oppenheimer & Co GLENN GREENE market perform 3 M #N/A N/A Not Provided 19.03.2013
BMO Capital Markets JEFFREY M SILBER market perform 3 M 34 Not Provided 18.03.2013
Goldman Sachs PAUL THOMAS neutral/neutral 3 M 36 12 month 18.03.2013
Janney Montgomery Scott LLC JOSEPH D FORESI neutral 3 M 33 12 month 15.03.2013
Edward Jones JOSH OLSON hold 3 M #N/A N/A Not Provided 13.03.2013
Jefferies JASON KUPFERBERG underperform 1 M 31 12 month 12.03.2013
Robert W. Baird & Co MARK S MARCON neutral 3 M 34 12 month 08.03.2013
William Blair & Co TIMOTHY J MCHUGH outperform 5 M #N/A N/A Not Provided 08.03.2013
EVA Dimensions ANDREW S ZAMFOTIS overweight 5 M #N/A N/A Not Provided 15.01.2013
JPMorgan TIEN-TSIN HUANG underweight 1 M 34 9 month 11.01.2013
Raymond James MICHAEL J BAKER market perform 3 M #N/A N/A Not Provided 21.12.2012
Cowen and Company MOSHE KATRI neutral 3 M #N/A N/A Not Provided 21.12.2012
Barclays GARY E BISBEE underweight 1 M 30 Not Provided 21.12.2012
Credit Suisse GEORGE MIHALOS neutral 3 M 35 Not Provided 20.12.2012
First Analysis Corp JAMES ROBERT MACDONALD equalweight 3 M 37 12 month 20.12.2012
Evercore Partners DAVID M TOGUT equalweight 3 M 34 12 month 20.12.2012
Northcoast Research KARTIK MEHTA neutral 3 M #N/A N/A Not Provided 14.12.2012
S&P Capital IQ DYLAN CATHERS hold 3 M 35 12 month 20.09.2012
Deutsche Bank BRYAN KEANE hold 3 M 33 12 month 20.07.2012
Holdings By:
International Consolidated Airlines Group SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Carnival plc owns and operates cruise ships. The Company offers cruise
distributes OTC and generic prescription pharmaceuticals, infant formulas,
nutritional products, active pharmaceutical ingredients and pharmaceutical and
medical diagnostic products. The Company's primary markets and locations of
manufacturing and logistics operations are the US, UK, Mexico, and Australia.
Latest Fiscal Year: 11/2012
LTM as of: 12/yy
52-Week High (29.01.2013) 2'638.00
52-Week Low (11.04.2012) 1'864.93
Daily Volume
2247
52-Week High % Change -14.82% Dividend Yield 2.95
52-Week Low % Change 20.49% Beta 0.97
% 52 Week Price Range High/Low 49.81% Equity Float 183.90
Shares Out 07.03.2013 215.5 Short Int -
18'220.98 1 Yr Total Return 15.52%
Total Debt 8'958.00 YTD Return -4.08%
Preferred Stock 0.0 Adjusted BETA 0.974
Minority Interest 0.0 Analyst Recs 19
Cash and Equivalents 465.00 Consensus Rating 3.842
Enterprise Value 36'429.23
Average Volume 5 Day 917'350
CCL LN EQUITY YTD Change - Average Volume 30 Day 1'044'208
CCL LN EQUITY YTD % CHANGE - Average Volume 3 Month 920'152
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.11.2008 30.11.2009 30.11.2010 30.11.2011 30.11.2012 12/yy 12/yy 11/13 Y 11/14 Y 05/13 Q2 08/13 Q3
14'646.0 13'460.0 14'469.0 15'793.0 15'382.0 2'959.7 3'262.6 15'865.4 16'723.6 3'580.0 4'922.3
1.73x 2.66x 2.82x 2.26x 2.59x 12.24x 13.66x 2.26x 2.11x 10.24x 7.29x
3'978.0 3'463.0 3'763.0 3'756.0 3'342.0 629.1 774.3 3'528.8 4'054.9 529.3 1'761.7
6.35x 10.34x 10.83x 9.50x 11.94x 15.96x 13.59x 10.32x 8.98x 10.28x 9.69x
2'330.0 1'790.0 1'978.0 1'912.0 1'298.0 344.9 443.0 1'595.5 2'071.6 55.2 1'283.0
7.12x 14.69x 16.28x 14.20x 24.26x 24.02x 20.46x 16.56x 12.76x 15.87x 14.21x
EBITDA 3'342.00 Long-Term Rating Date 16.04.2003
EBIT 1'815.00 Long-Term Rating NR
Operating Margin 11.80% Long-Term Outlook -
Pretax Margin 8.46% Short-Term Rating Date -
Return on Assets 3.80% Short-Term Rating -
Return on Common Equity 6.25%
Return on Capital 5.46% EBITDA/Interest Exp. 9.95
Asset Turnover 0.40% (EBITDA-Capex)/Interest Exp. 3.01
Net Debt/EBITDA 2.61
Gross Margin 44.2% Total Debt/EBITDA 2.75
EBITDA Margin 22.1%
EBIT Margin 12.1% Total Debt/Equity 37.4%
Net Income Margin 8.4% Total Debt/Capital 27.2%
Asset Turnover 0.40
Current Ratio 0.25 Net Fixed Asset Turnover 0.49
Quick Ratio 0.10 Accounts receivable turnover-days 8.13
Debt to Assets 22.87% Inventory Days 16.47
Tot Debt to Common Equity 37.44% Accounts Payable Turnover Day 154.05
Accounts Receivable Turnover 44.88 Cash Conversion Cycle -66.82
Inventory Turnover 22.16
Fiscal Year Ended
Carnival PLCPrice/Volume
Valuation Analysis
259'894.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
Carnival Investments n/a ULT-AGG 6'461'001 6.91 - 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 5'448'243 5.82 120'566 31.12.2012 Investment Advisor
ARKIN MOSHE n/a 13D 4'531'281 4.84 (463'579) 01.03.2012 n/a
FMR LLC n/a ULT-AGG 3'880'595 4.15 (834'279) 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 3'834'248 4.1 (562'479) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 3'752'470 4.01 89'036 25.03.2013 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 3'328'393 3.56 (241'297) 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 3'161'232 3.38 456'270 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 1'861'196 1.99 (100'236) 31.12.2012 Investment Advisor
RUANE CUNNIFF & GOLD RUANE CUNNIFF & GOLD 13F 1'728'076 1.85 (13'319) 31.12.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 1'290'980 1.38 (150'075) 31.12.2012 Investment Advisor
MARSICO CAPITAL MANA MARSICO CAPITAL MANA 13F 1'283'048 1.37 (107'000) 31.12.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 1'278'770 1.37 (161'001) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'239'862 1.33 (18'934) 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 1'192'720 1.27 407'787 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 1'140'823 1.22 (86'938) 31.12.2012 Investment Advisor
SELECT EQUITY GROUP SELECT EQUITY GROUP 13F 1'041'325 1.11 18'786 31.12.2012 Hedge Fund Manager
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 1'025'163 1.1 (35'542) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 1'017'844 1.09 55'105 31.12.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 778'624 0.83 194'065 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions LOUISE CHEN buy 5 M 130 12 month 22.03.2013
Morgan Stanley DAVID R RISINGER Overwt/In-Line 5 M 125 12 month 21.03.2013
B Riley & Company, Inc LINDA BOLTON WEISER buy 5 M 133 Not Provided 20.03.2013
Buckingham Research Group DAVID G BUCK buy 5 M 145 12 month 18.03.2013
Canaccord Genuity Corp RANDALL STANICKY buy 5 M 128 12 month 18.03.2013
William Blair & Co JON R ANDERSEN outperform 5 M #N/A N/A Not Provided 08.03.2013
JPMorgan CHRISTOPHER T SCHOTT neutral 3 M 108 9 month 19.02.2013
Deutsche Bank DAVID M STEINBERG hold 3 M 115 12 month 12.02.2013
CLAL Finance Betucha JONATHAN KREIZMAN market perform 3 M 106 Not Provided 12.02.2013
Goldman Sachs JAMI E RUBIN sell/attractive 1 M 112 12 month 11.02.2013
Needham & Co ELLIOT WILBUR hold 3 M #N/A N/A Not Provided 11.02.2013
Stifel ANNABEL SAMIMY buy 5 M 125 12 month 11.02.2013
Barrington Research CHARLES R JONES outperform 5 M 142 12 month 04.02.2013
RBC Capital Markets SHIBANI MALHOTRA sector perform 3 M 111 12 month 01.02.2013
EVA Dimensions ANDREW S ZAMFOTIS hold 3 M #N/A N/A Not Provided 15.01.2013
I.B.I. NATALI GOTLIEB reduce 2 M 89 Not Provided 09.05.2012
Holdings By:
Carnival PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
G4S PLC offers security services. The Company offers security guards, alarms,
on a variety of products and services. The Company's product allows customers
to name their own price on products or services and communicates that demand
directly to participating sellers or to their private databases. Participants
include domestic and international airlines, and hotel chains.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (12.03.2013) 310.50
52-Week Low (23.07.2012) 237.30
Daily Volume
288.4
52-Week High % Change -7.12% Dividend Yield 3.11
52-Week Low % Change 21.53% Beta 0.82
% 52 Week Price Range High/Low 76.37% Equity Float 1'398.46
Shares Out 14.03.2013 1'410.7 Short Int -
4'068.37 1 Yr Total Return 7.65%
Total Debt 2'462.00 YTD Return 12.44%
Preferred Stock 0.0 Adjusted BETA 0.819
Minority Interest 55.0 Analyst Recs 23
Cash and Equivalents 525.00 Consensus Rating 3.652
Enterprise Value 6'060.37
Average Volume 5 Day 3'209'846
GFS LN EQUITY YTD Change - Average Volume 30 Day 3'266'610
GFS LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'908'767
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
5'928.5 7'009.0 7'258.0 7'522.0 7'501.0 - - 8'194.6 8'702.4 - -
0.75x 0.74x 0.71x 0.75x 0.75x - - 0.71x 0.65x - -
532.2 637.0 645.0 641.0 661.0 - - 718.5 762.8 - -
8.31x 8.19x 8.00x 8.75x 8.49x - - 8.43x 7.95x - -
151.2 202.0 223.0 181.0 48.0 - - 342.5 372.9 - -
15.53x 17.49x 15.07x 18.49x 32.47x - - 11.77x 10.72x - -
EBITDA 661.00 Long-Term Rating Date 05.11.2012
EBIT 430.00 Long-Term Rating BBB-
Operating Margin 5.73% Long-Term Outlook STABLE
Pretax Margin 2.33% Short-Term Rating Date 05.11.2012
Return on Assets 0.85% Short-Term Rating A-3
Return on Common Equity 3.60%
Return on Capital 6.13% EBITDA/Interest Exp. 3.16
Asset Turnover 1.34% (EBITDA-Capex)/Interest Exp. 2.40
Net Debt/EBITDA 2.93
Gross Margin 20.6% Total Debt/EBITDA 3.72
EBITDA Margin 8.8%
EBIT Margin 5.7% Total Debt/Equity 209.4%
Net Income Margin 0.6% Total Debt/Capital 66.7%
Asset Turnover 1.34
Current Ratio 1.68 Net Fixed Asset Turnover 14.37
Quick Ratio 0.37 Accounts receivable turnover-days -
Debt to Assets 43.84% Inventory Days 7.71
Tot Debt to Common Equity 209.35% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 55.14
Inventory Turnover 47.46
Fiscal Year Ended
G4S PLCPrice/Volume
Valuation Analysis
983'621.00
Current Price (3/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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2'000.0
3'000.0
4'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESCO LTD T ROWE PRICE ASSOCIA 13F 4'627'871 9.28 (287'074) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 3'812'408 7.64 - 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 2'501'932 5.02 130'868 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 2'185'936 4.38 52'433 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 2'106'662 4.22 97'425 26.03.2013 Investment Advisor
LONE PINE CAPITAL LL LONE PINE CAPITAL LL 13F 1'770'983 3.55 354'525 31.12.2012 Hedge Fund Manager
WINSLOW CAPITAL MANA WINSLOW CAPITAL MANA 13F 1'361'625 2.73 49'346 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 1'174'200 2.35 (142) 31.12.2012 Investment Advisor
SANDS CAPITAL MANAGE SANDS CAPITAL MANAGE 13F 1'169'858 2.35 28'824 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 1'115'144 2.24 561'028 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 988'269 1.98 286'848 31.12.2012 Unclassified
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 976'991 1.96 (74'602) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 924'834 1.85 8'264 31.12.2012 Investment Advisor
UBS n/a ULT-AGG 872'997 1.75 (117'033) 31.01.2013 Unclassified
MACQUARIE GROUP n/a ULT-AGG 862'631 1.73 31'140 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 839'300 1.68 - 31.12.2012 Investment Advisor
MACKAY SHIELDS LLC Multiple Portfolios MF-AGG 773'065 1.55 (8'975) 31.01.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 664'529 1.33 9'458 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 572'001 1.15 160'500 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 567'850 1.14 (10'002) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse NAVED KHAN buy 5 M 800 12 month 22.03.2013
Evercore Partners KEN SENA overweight 5 M 850 12 month 21.03.2013
Monness, Crespi, Hardt & Co WILLIAM LENNAN neutral 3 M #N/A N/A Not Provided 20.03.2013
Tigress Financial Partners IVAN FEINSETH strong buy 5 M #N/A N/A Not Provided 20.03.2013
JMP Securities RONALD V JOSEY III market outperform 4 N 850 12 month 19.03.2013
Cowen and Company KEVIN KOPELMAN outperform 5 M #N/A N/A Not Provided 18.03.2013
Piper Jaffray MICHAEL J OLSON overweight 5 M 800 12 month 18.03.2013
Daiwa Securities Co. Ltd. KAZUYA NISHIMURA neutral 3 M 745 Not Provided 05.03.2013
Lazard Capital Markets JAKE FULLER buy 5 U 859 12 month 01.03.2013
RBC Capital Markets MARK S MAHANEY outperform 5 M 900 12 month 28.02.2013
Deutsche Bank ROSS SANDLER hold 3 M 745 12 month 27.02.2013
Morgan Stanley SCOTT W DEVITT Equalwt/Attractive 3 M 750 12 month 27.02.2013
Goldman Sachs HEATH P TERRY buy/attractive 5 M 825 12 month 27.02.2013
Credit Suisse STEPHEN JU outperform 5 M 895 Not Provided 27.02.2013
JPMorgan DOUGLAS ANMUTH overweight 5 M 835 9 month 27.02.2013
Janney Montgomery Scott LLC BRIAN MULLAN neutral 3 M 740 12 month 27.02.2013
Jefferies BRIAN P FITZGERALD buy 5 M 820 12 month 27.02.2013
Macquarie THOMAS WHITE outperform 5 M 820 12 month 27.02.2013
Stifel MICHAEL B PURCELL buy 5 M 860 12 month 27.02.2013
Nomura BRIAN NOWAK buy 5 M 850 12 month 27.02.2013
S&P Capital IQ SCOTT H KESSLER hold 3 M 875 12 month 27.02.2013
Atlantic Equities LLP JAMES CORDWELL overweight 5 M 840 12 month 27.02.2013
Benchmark Company LLC DANIEL L KURNOS buy 5 M 800 12 month 27.02.2013
Barclays ANTHONY J DICLEMENTE overweight 5 M 775 Not Provided 27.02.2013
Ascendiant Capital Markets EDWARD WOO buy 5 M 875 12 month 27.02.2013
Pacific Crest Securities CHAD BARTLEY outperform 5 M 879 12 month 26.02.2013
Raymond James AARON M KESSLER outperform 5 M 840 12 month 26.02.2013
Millman Research Associates MICHAEL MILLMAN hold 3 M 785 12 month 26.02.2013
EVA Dimensions CRAIG STERLING overweight 5 M #N/A N/A Not Provided 15.01.2013
Holdings By:
G4S PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
The Sage Group plc is a software publishing company. The Group develops,
Company licenses its code division multiple access (CDMA) and orthogonal
frequency division multiplexing access intellectual property to other companies,
and produces CDMA-based integrated circuits, and produces equipment and software
used to track workers and assets, and software for wireless content enablement.
Latest Fiscal Year: 09/2012
LTM as of: 12/yy
52-Week High (08.03.2013) 356.30
52-Week Low (18.05.2012) 245.30
Daily Volume
339
52-Week High % Change -4.86% Dividend Yield 2.99
52-Week Low % Change 38.20% Beta 1.00
% 52 Week Price Range High/Low 82.79% Equity Float 1'177.60
Shares Out 26.03.2013 1'179.5 Short Int -
3'998.34 1 Yr Total Return 18.79%
Total Debt 209.20 YTD Return 17.49%
Preferred Stock 0.0 Adjusted BETA 1.002
Minority Interest (2.1) Analyst Recs 27
Cash and Equivalents 61.60 Consensus Rating 2.815
Enterprise Value 4'143.84
Average Volume 5 Day 2'711'820
SGE LN EQUITY YTD Change - Average Volume 30 Day 2'903'223
SGE LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'747'656
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.09.2008 30.09.2009 30.09.2010 30.09.2011 30.09.2012 12/yy 12/yy 09/13 Y 09/14 Y - -
1'295.0 1'439.3 1'277.7 1'334.1 1'340.2 - - 1'386.5 1'417.8 - -
2.38x 2.42x 2.99x 2.55x 3.22x - - 3.03x 2.93x - -
322.6 346.2 363.0 394.8 391.2 - - 396.5 423.0 - -
9.54x 10.06x 10.53x 8.63x 11.02x - - 10.45x 9.80x - -
166.3 189.5 227.3 189.0 296.6 - - 246.9 268.3 - -
15.34x 16.14x 16.95x 13.19x 16.82x - - 15.41x 14.18x - -
EBITDA 391.20 Long-Term Rating Date -
EBIT 343.90 Long-Term Rating -
Operating Margin 25.66% Long-Term Outlook -
Pretax Margin 24.94% Short-Term Rating Date -
Return on Assets 11.37% Short-Term Rating -
Return on Common Equity 19.24%
Return on Capital 17.57% EBITDA/Interest Exp. 29.64
Asset Turnover 0.51% (EBITDA-Capex)/Interest Exp. 28.17
Net Debt/EBITDA 0.38
Gross Margin 93.7% Total Debt/EBITDA 0.53
EBITDA Margin 29.2%
EBIT Margin 25.7% Total Debt/Equity 15.2%
Net Income Margin 22.1% Total Debt/Capital 13.2%
Asset Turnover 0.51
Current Ratio 0.47 Net Fixed Asset Turnover 9.29
Quick Ratio 0.42 Accounts receivable turnover-days 71.09
Debt to Assets 8.46% Inventory Days 10.85
Tot Debt to Common Equity 15.21% Accounts Payable Turnover Day 242.91
Accounts Receivable Turnover 5.15 Cash Conversion Cycle -160.97
Inventory Turnover 33.72
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
Sage Group PLC/ThePrice/Volume
Valuation Analysis
824'323.00
Current Price (3/dd/yy) Market Data
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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 97'445'750 5.67 (1'097'545) 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 76'175'417 4.43 1'586'995 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 70'105'195 4.08 2'748'797 26.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 65'989'412 3.84 (13'864'751) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 48'565'229 2.83 (1'402'853) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 39'259'157 2.28 1'723'682 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 28'145'539 1.64 (3'535'861) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 28'068'364 1.63 3'817'042 31.12.2012 Unclassified
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 26'620'183 1.55 (44'394) 31.12.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 20'000'786 1.16 (101'415) 31.12.2012 Investment Advisor
UBS n/a ULT-AGG 18'812'964 1.09 (894'092) 31.01.2013 Unclassified
JACOBS IRWIN MARK n/a Form 4 18'545'579 1.08 (66'379) 05.03.2012 n/a
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 18'055'113 1.05 (97'239) 31.12.2012 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 17'971'145 1.05 (245'290) 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 16'861'913 0.98 1'737'652 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 16'431'203 0.96 (5'446'906) 31.12.2012 Investment Advisor
SANDS CAPITAL MANAGE SANDS CAPITAL MANAGE 13F 15'415'875 0.9 (4'025'353) 31.12.2012 Investment Advisor
WINSLOW CAPITAL MANA WINSLOW CAPITAL MANA 13F 15'097'814 0.88 (2'711'518) 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 15'092'976 0.88 3'254'562 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 13'118'618 0.76 1'609'301 31.12.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Baader Bank JEROME RAMEL outperform 5 M 75 Not Provided 26.03.2013
Wells Fargo Securities, LLC DAVID M WONG outperform 5 M #N/A N/A Not Provided 25.03.2013
Piper Jaffray AUGUSTE P RICHARD overweight 5 M 83 12 month 25.03.2013
Morgan Stanley EHUD A GELBLUM Overwt/Attractive 5 M 73 12 month 22.03.2013
MKM Partners DANIEL A BERENBAUM buy 5 M 74 12 month 22.03.2013
Susquehanna Financial Group CHRISTOPHER CASO Positive 4 M 85 12 month 21.03.2013
Nomura ROMIT SHAH buy 5 M 75 12 month 19.03.2013
Evercore Partners MARK A MCKECHNIE overweight 5 M 85 12 month 18.03.2013
Cowen and Company MATTHEW HOFFMAN outperform 5 M #N/A N/A Not Provided 18.03.2013
Tigress Financial Partners IVAN FEINSETH strong buy 5 N #N/A N/A Not Provided 18.03.2013
Lazard Capital Markets IAN ING buy 5 M 79 12 month 15.03.2013
RBC Capital Markets MARK SUE outperform 5 M 77 12 month 14.03.2013
William Blair & Co ANIL K DORADLA outperform 5 M #N/A N/A Not Provided 14.03.2013
Sanford C. Bernstein & Co STACY A RASGON outperform 5 M 80 12 month 13.03.2013
BMO Capital Markets TIMOTHY P LONG outperform 5 M 80 Not Provided 10.03.2013
Edward Jones WILLIAM C KREHER buy 5 M #N/A N/A Not Provided 08.03.2013
Societe Generale PETER KNOX hold 3 M 64 12 month 07.03.2013
D.A. Davidson & Co AALOK K SHAH neutral 3 M 65 18 month 07.03.2013
Argus Research Corp JAMES KELLEHER buy 5 M 80 Not Provided 06.03.2013
Credit Suisse KULBINDER GARCHA outperform 5 M 85 Not Provided 05.03.2013
Raymond James TAVIS C MCCOURT outperform 5 M 80 12 month 05.03.2013
Scotia Capital GUS PAPAGEORGIOU focus stock 5 M 81 12 month 05.03.2013
Berenberg Bank ADNAAN AHMAD sell 1 M 50 Not Provided 05.03.2013
S&P Capital IQ JAMES G MOORMAN strong buy 5 M 84 12 month 05.03.2013
FBR Capital Markets CHRISTOPHER ROLLAND outperform 5 M 76 12 month 04.03.2013
Canaccord Genuity Corp T MICHAEL WALKLEY buy 5 M 83 12 month 03.03.2013
Oppenheimer & Co ITTAI KIDRON outperform 5 M 72 18 month 25.02.2013
JMP Securities ALEX GAUNA market outperform 4 M 75 12 month 25.02.2013
Wedge Partners BRIAN BLAIR no rating system #N/A N/A M #N/A N/A Not Provided 22.02.2013
Drexel Hamilton LLC RICHARD WHITTINGTON buy 5 M 80 12 month 13.02.2013
JPMorgan ROD HALL neutral 3 D 70 9 month 12.02.2013
Barclays BLAYNE CURTIS overweight 5 M 77 Not Provided 11.02.2013
Daiwa Securities Co. Ltd. YOKO YAMADA outperform 5 M 71 Not Provided 04.02.2013
Deutsche Bank BRIAN T MODOFF buy 5 M 78 12 month 31.01.2013
Goldman Sachs SIMONA JANKOWSKI Buy/Neutral 5 M 80 12 month 31.01.2013
Brean Murray Carret & Co MIKE BURTON buy 5 M 80 12 month 31.01.2013
Macquarie SHAWN WEBSTER outperform 5 M 75 12 month 31.01.2013
Davenport & Co F DRAKE JOHNSTONE buy 5 M 72 12 month 31.01.2013
Williams Financial Group CODY G ACREE hold 3 M #N/A N/A Not Provided 31.01.2013
Atlantic Equities LLP JAMES CORDWELL overweight 5 M 80 12 month 31.01.2013
Credit Agricole Securities (USA) SRINI PAJJURI outperform 5 M 74 Not Provided 31.01.2013
EVA Dimensions ANDREW S ZAMFOTIS overweight 5 U #N/A N/A Not Provided 31.01.2013
Pacific Crest Securities JAMES FAUCETTE outperform 5 M 70 12 month 30.01.2013
Holdings By:
Sage Group PLC/The ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Severn Trent plc supplies water, waste, and utility services throughout the
acquisition, development, and exploration of gold and other precious metal in
Africa.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (14.08.2012) 1'836.00
52-Week Low (05.04.2012) 1'442.71
Daily Volume
1658
52-Week High % Change -9.59% Dividend Yield 4.36
52-Week Low % Change 15.06% Beta 0.60
% 52 Week Price Range High/Low 62.62% Equity Float 231.31
Shares Out 01.03.2013 238.4 Short Int -
3'952.02 1 Yr Total Return 16.26%
Total Debt 4'398.80 YTD Return 5.46%
Preferred Stock 0.0 Adjusted BETA 0.601
Minority Interest 7.9 Analyst Recs 18
Cash and Equivalents 295.10 Consensus Rating 3.111
Enterprise Value 8'124.42
Average Volume 5 Day 538'310
SVT LN EQUITY YTD Change - Average Volume 30 Day 594'984
SVT LN EQUITY YTD % CHANGE - Average Volume 3 Month 600'769
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 12/yy 12/yy 03/13 Y 03/14 Y - -
1'552.4 1'642.2 1'703.9 1'711.3 1'770.6 - - 1'830.4 1'876.3 - -
4.38x 3.74x 3.86x 4.38x 4.39x - - 4.51x 4.46x - -
699.7 713.6 813.9 792.5 786.7 - - 827.7 852.4 - -
9.73x 8.60x 8.07x 9.45x 9.89x - - 9.82x 9.53x - -
209.5 (57.8) 249.2 272.6 171.8 - - 221.9 233.9 - -
15.89x - 11.32x 12.69x 21.30x - - 17.98x 17.27x - -
EBITDA 786.70 Long-Term Rating Date 28.01.2010
EBIT 499.90 Long-Term Rating BBB-
Operating Margin 28.23% Long-Term Outlook STABLE
Pretax Margin 8.85% Short-Term Rating Date 28.01.2010
Return on Assets 2.86% Short-Term Rating A-3
Return on Common Equity 24.61%
Return on Capital - EBITDA/Interest Exp. 2.34
Asset Turnover 0.23% (EBITDA-Capex)/Interest Exp. 1.23
Net Debt/EBITDA 5.36
Gross Margin - Total Debt/EBITDA 5.67
EBITDA Margin 43.1%
EBIT Margin 26.7% Total Debt/Equity 451.9%
Net Income Margin 9.7% Total Debt/Capital 81.8%
Asset Turnover 0.23
Current Ratio 1.52 Net Fixed Asset Turnover 0.27
Quick Ratio 0.86 Accounts receivable turnover-days -
Debt to Assets 57.02% Inventory Days -
Tot Debt to Common Equity 451.85% 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
Severn Trent PLCPrice/Volume
Valuation Analysis
95'275.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 8'568'474 9.3 (1'044'783) 25.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 6'627'558 7.19 365'169 26.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 4'049'382 4.4 (992'666) 31.12.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 3'917'000 4.25 (633'099) 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 1'652'413 1.79 (232'219) 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 1'264'736 1.37 (47'000) 31.12.2012 Hedge Fund Manager
AGF INVESTMENTS INC AGF INVESTMENTS INC 13F 1'196'861 1.3 (132'195) 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 1'013'740 1.1 (96'778) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 968'495 1.05 (224'221) 31.12.2012 Unclassified
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 952'220 1.03 (175'960) 31.12.2012 Hedge Fund Manager
PAULSON & CO PAULSON & CO 13F 930'502 1.01 - 31.12.2012 Hedge Fund Manager
WELLS FARGO n/a ULT-AGG 850'000 0.92 - 31.01.2013 Unclassified
INVESCO LTD INVESCO LTD 13F 821'510 0.89 (72'716) 31.12.2012 Investment Advisor
GAMCO n/a ULT-AGG 818'535 0.89 1'320 31.12.2012 Unclassified
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 656'494 0.71 30'000 31.12.2012 Investment Advisor
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 533'200 0.58 164'900 31.12.2012 Investment Advisor
ASA BERMUDA LIMITED ASA BERMUDA LIMITED 13F 444'700 0.48 - 31.12.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 399'700 0.43 171'000 31.12.2012 Hedge Fund Manager
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 385'000 0.42 (15'400) 31.12.2012 Investment Advisor
NIKKO ASSET MANAGEME n/a ULT-AGG 321'000 0.35 (11'600) 31.12.2012 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets TANYA M JAKUSCONEK sector perform 3 M 109 12 month 14.03.2013
BMO Capital Markets ANDREW BREICHMANAS market perform 3 M 110 Not Provided 25.02.2013
HSBC PATRICK CHIDLEY overweight 5 M 125 Not Provided 31.01.2013
Clarus Securities NANA SANGMUAH buy 5 M 120 18 month 29.01.2013
Canaccord Genuity Corp TIM DUDLEY buy 5 M 145 12 month 17.12.2012
S&P Capital IQ LEO LARKIN buy 5 M 125 Not Provided 16.11.2012
GARP Research SETH DADDS buy 5 M #N/A N/A Not Provided 10.08.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Holdings By:
Severn Trent PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Aberdeen Asset Management PLC operates an investment management group, which
develops, and commercializes pharmaceutical products for the treatment of
serious medical conditions. The Company has therapeutic candidates in clinical
trials for the potential treatment of cancer, eye diseases, and inflammatory
diseases, and has preclinical programs in other diseases and disorders.
Latest Fiscal Year: 09/2012
LTM as of: 12/yy
52-Week High (20.02.2013) 442.30
52-Week Low (31.05.2012) 232.70
Daily Volume
426.8
52-Week High % Change -3.69% Dividend Yield 2.70
52-Week Low % Change 83.07% Beta 1.07
% 52 Week Price Range High/Low 93.37% Equity Float 918.68
Shares Out 01.03.2013 1'198.4 Short Int -
5'114.79 1 Yr Total Return 68.03%
Total Debt 81.50 YTD Return 16.04%
Preferred Stock 0.0 Adjusted BETA 1.074
Minority Interest 212.1 Analyst Recs 23
Cash and Equivalents 406.40 Consensus Rating 4.130
Enterprise Value 5'001.99
Average Volume 5 Day 4'234'882
ADN LN EQUITY YTD Change - Average Volume 30 Day 3'742'919
ADN LN EQUITY YTD % CHANGE - Average Volume 3 Month 3'704'651
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.09.2008 30.09.2009 30.09.2010 30.09.2011 30.09.2012 12/yy 12/yy 09/13 Y 09/14 Y - -
430.1 421.9 638.2 784.0 869.2 - - 1'012.6 1'145.6 - -
2.84x 4.39x 3.16x 2.56x 4.12x - - 4.86x 4.12x - -
114.9 132.0 226.4 313.2 361.0 - - 426.4 497.5 - -
10.64x 14.02x 8.90x 6.40x 9.91x - - 11.73x 10.05x - -
35.2 (8.1) 92.6 169.7 208.7 - - 332.2 383.4 - -
27.55x - 18.72x 11.51x 16.46x - - 15.69x 13.34x - -
EBITDA 361.00 Long-Term Rating Date -
EBIT 274.60 Long-Term Rating -
Operating Margin 31.59% Long-Term Outlook -
Pretax Margin 31.03% Short-Term Rating Date -
Return on Assets 6.00% Short-Term Rating -
Return on Common Equity 19.80%
Return on Capital 17.03% EBITDA/Interest Exp. 48.78
Asset Turnover 0.25% (EBITDA-Capex)/Interest Exp. 47.76
Net Debt/EBITDA -0.90
Gross Margin - Total Debt/EBITDA 0.23
EBITDA Margin 41.5%
EBIT Margin 31.6% Total Debt/Equity 7.5%
Net Income Margin 24.0% Total Debt/Capital 5.9%
Asset Turnover 0.25
Current Ratio 1.10 Net Fixed Asset Turnover 44.35
Quick Ratio 0.15 Accounts receivable turnover-days -
Debt to Assets 2.00% Inventory Days -
Tot Debt to Common Equity 7.49% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Aberdeen Asset Management PLCPrice/Volume
Valuation Analysis
2'150'201.00
Current Price (3/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
200.0
400.0
600.0
800.0
1'000.0
1'200.0
1'400.0
1'600.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MITSUBISHI UFJ FINAN n/a Form 4 15'816'953 16.58 1'017'401 13.10.2010 Corporation
CAPITAL GROUP COMPAN n/a ULT-AGG 14'536'840 15.24 (2'346'800) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 14'104'017 14.79 3'344'742 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 6'746'671 7.07 (618'760) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 5'977'244 6.27 - 25.03.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'857'640 4.04 (228'913) 31.12.2012 Investment Advisor
SANDS CAPITAL MANAGE SANDS CAPITAL MANAGE 13F 3'223'869 3.38 (610'504) 31.12.2012 Investment Advisor
ARTISAN PARTNERS HOL ARTISAN PARTNERS LP 13F 3'119'564 3.27 36'747 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 2'525'132 2.65 460'591 31.12.2012 Unclassified
VANGUARD GROUP INC VANGUARD GROUP INC 13F 2'517'641 2.64 (1'010'842) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 2'477'586 2.6 (8'774) 25.03.2013 Investment Advisor
YANCOPOULOS GEORGE D n/a Form 4 1'122'864 1.18 50'846 19.12.2012 n/a
INVESCO LTD INVESCO LTD 13F 1'029'377 1.08 964'817 31.12.2012 Investment Advisor
TOUCHSTONE ADVISORS Multiple Portfolios MF-AGG 828'000 0.87 22'000 31.12.2012 Mutual Fund Manager
JANUS CAPITAL MANAGE n/a ULT-AGG 803'814 0.84 (153'262) 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 795'113 0.83 (5'936) 31.12.2012 Investment Advisor
PINNACLE ASSOCIATES PINNACLE ASSOCIATES 13F 766'916 0.8 (154'017) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 765'640 0.8 70'587 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 747'954 0.78 (9'490) 31.12.2012 Investment Advisor
GCIC LTD/CANADA GOODMAN & COMPANY IN 13F 599'800 0.63 9'100 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Exane BNP Paribas JASON KANTOR outperform 5 M 187 Not Provided 19.03.2013
Jefferies BIREN AMIN hold 3 M 179 12 month 19.03.2013
Lazard Capital Markets JOSHUA SCHIMMER neutral 3 M #N/A N/A Not Provided 03.03.2013
RBC Capital Markets ADNAN BUTT outperform 5 M 190 12 month 28.02.2013
Barclays YING HUANG overweight 5 N 194 Not Provided 28.02.2013
Roth Capital Partners JOSEPH PANTGINIS buy 5 M 200 12 month 19.02.2013
Leerink Swann & Co JOSEPH P SCHWARTZ outperform 5 M #N/A N/A Not Provided 19.02.2013
Robert W. Baird & Co CHRISTOPHER J RAYMOND outperform 5 M 205 12 month 15.02.2013
EVA Dimensions ANDREW S ZAMFOTIS hold 3 U #N/A N/A Not Provided 15.02.2013
BMO Capital Markets JIM BIRCHENOUGH outperform 5 M 192 Not Provided 14.02.2013
Goldman Sachs TERENCE FLYNN buy/attractive 5 M 196 12 month 14.02.2013
Brean Murray Carret & Co JONATHAN M ASCHOFF hold 3 M #N/A N/A Not Provided 14.02.2013
JPMorgan GEOFFREY MEACHAM neutral 3 M 150 9 month 14.02.2013
Cowen and Company PHILIP NADEAU neutral 3 M #N/A N/A Not Provided 14.02.2013
Piper Jaffray EDWARD A TENTHOFF neutral 3 M 140 12 month 14.02.2013
Deutsche Bank ROBYN KARNAUSKAS buy 5 M 190 12 month 25.10.2012
Holdings By:
Aberdeen Asset Management PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Babcock International Group plc offers support services to public sector
accessories stores. Ross offers name brand and designer apparel, accessories,
footwear, and home fashions at discount prices.
Latest Fiscal Year: 03/2012
LTM as of: 02/yy
52-Week High (07.03.2013) 1'113.00
52-Week Low (27.03.2012) 774.50
Daily Volume
1073
52-Week High % Change -3.59% Dividend Yield 2.17
52-Week Low % Change 38.54% Beta 0.73
% 52 Week Price Range High/Low 90.84% Equity Float 340.90
Shares Out 05.03.2013 360.3 Short Int -
3'865.71 1 Yr Total Return 37.62%
Total Debt 761.50 YTD Return 11.13%
Preferred Stock 0.0 Adjusted BETA 0.733
Minority Interest 8.6 Analyst Recs 19
Cash and Equivalents 100.30 Consensus Rating 3.684
Enterprise Value 4'491.51
Average Volume 5 Day 692'981
BAB LN EQUITY YTD Change - Average Volume 30 Day 729'144
BAB LN EQUITY YTD % CHANGE - Average Volume 3 Month 664'202
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 02/yy 03/13 Y 03/14 Y - -
1'555.9 1'901.9 1'923.4 2'703.2 3'070.4 - - 3'229.0 3'441.0 - -
1.05x 0.88x 0.88x 1.10x 1.15x - - 1.37x 1.25x - -
138.8 168.9 189.6 293.5 337.5 - - 385.7 402.0 - -
11.79x 9.89x 8.92x 10.12x 10.45x - - 11.65x 11.17x - -
67.3 72.0 106.0 101.1 100.8 - - 245.5 249.9 - -
19.06x 11.48x 13.02x 20.60x 18.55x - - 15.60x 15.24x - -
EBITDA 337.50 Long-Term Rating Date -
EBIT 213.60 Long-Term Rating -
Operating Margin 6.96% Long-Term Outlook -
Pretax Margin 5.63% Short-Term Rating Date -
Return on Assets 3.26% Short-Term Rating -
Return on Common Equity 11.24%
Return on Capital 8.50% EBITDA/Interest Exp. 7.34
Asset Turnover 0.99% (EBITDA-Capex)/Interest Exp. 6.41
Net Debt/EBITDA 1.79
Gross Margin 18.3% Total Debt/EBITDA 2.08
EBITDA Margin 11.2%
EBIT Margin 7.3% Total Debt/Equity 83.6%
Net Income Margin 3.3% Total Debt/Capital 45.3%
Asset Turnover 0.99
Current Ratio 0.83 Net Fixed Asset Turnover 13.35
Quick Ratio 0.52 Accounts receivable turnover-days -
Debt to Assets 25.40% Inventory Days -
Tot Debt to Common Equity 83.55% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 10.97
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
Babcock International Group PLCPrice/Volume
Valuation Analysis
90'570.00
Current Price (3/dd/yy) Market Data
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12'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FMR LLC n/a ULT-AGG 28'175'226 12.67 (501'655) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 16'672'005 7.5 1'851'549 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 11'478'180 5.16 (3'335'778) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 8'870'387 3.99 (28'658) 25.03.2013 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 7'836'463 3.52 410'306 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 7'065'366 3.18 243'294 31.12.2012 Investment Advisor
WINSLOW CAPITAL MANA WINSLOW CAPITAL MANA 13F 5'910'719 2.66 3'854'546 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 4'282'701 1.93 (765'265) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 3'849'624 1.73 (448'489) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 3'771'842 1.7 2'972'491 31.12.2012 Unclassified
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 3'661'156 1.65 (361'361) 31.12.2012 Investment Advisor
MACKAY SHIELDS LLC Multiple Portfolios MF-AGG 3'258'732 1.47 (782'991) 31.01.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 2'977'172 1.34 13'659 31.12.2012 Investment Advisor
ORBAN GEORGE P n/a Form 4 2'756'802 1.24 16'000 28.12.2012 n/a
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 2'716'295 1.22 333'564 31.12.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 2'597'864 1.17 612'200 31.12.2012 Hedge Fund Manager
PIONEER INVESTMENT M PIONEER INVESTMENT M 13F 2'509'699 1.13 957'912 31.12.2012 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 1'962'013 0.88 14'114 31.01.2013 Investment Advisor
AKRE CAPITAL MANAGEM AKRE CAPITAL MANAGEM 13F 1'937'709 0.87 (10'813) 31.12.2012 Hedge Fund Manager
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 1'711'027 0.77 (811'119) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Peel Hunt OMAR SAAD buy 5 M 70 12 month 24.03.2013
Morgan Stanley KIMBERLY GREENBERGER Equalwt/Cautious 3 M #N/A N/A Not Provided 22.03.2013
RBC Capital Markets HOWARD TUBIN sector perform 3 M 67 12 month 22.03.2013
William Blair & Co DANIEL H HOFKIN outperform 5 M #N/A N/A Not Provided 22.03.2013
Johnson Rice & Co DAVID M MANN overweight 5 M #N/A N/A Not Provided 22.03.2013
FBR Capital Markets DUTCH FOX outperform 5 M 69 12 month 22.03.2013
Buckingham Research Group DAVID J GLICK neutral 3 M 60 12 month 22.03.2013
Sterne, Agee & Leach IKE BORUCHOW neutral 3 M 60 12 month 22.03.2013
Avondale Partners LLC MARK K MONTAGNA market outperform 4 M 66 12 month 22.03.2013
Wells Fargo Securities, LLC EVREN DOGAN KOPELMAN market perform 3 M #N/A N/A Not Provided 22.03.2013
MKM Partners PATRICK G MCKEEVER JR buy 5 M 68 12 month 22.03.2013
Telsey Advisory Group DANA TELSEY no rating system #N/A N/A M 64 12 month 22.03.2013
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 22.03.2013
Credit Suisse MICHAEL B EXSTEIN outperform 5 M 68 Not Provided 21.03.2013
Jefferies RANDAL J KONIK hold 3 M 55 12 month 21.03.2013
Stifel RICHARD E JAFFE hold 3 M #N/A N/A Not Provided 21.03.2013
Canaccord Genuity Corp LAURA A CHAMPINE hold 3 M 65 12 month 21.03.2013
Piper Jaffray ALEX J FUHRMAN overweight 5 M 71 12 month 21.03.2013
Northcoast Research JEFFERY STEIN buy 5 M 65 12 month 21.03.2013
CL King & Associates MORRY BROWN buy 5 M 70 12 month 20.03.2013
S&P Capital IQ JASON ASAEDA buy 5 M 64 Not Provided 15.03.2013
BMO Capital Markets JOHN D MORRIS market perform 3 M 58 Not Provided 14.03.2013
Deutsche Bank MICHAEL BAKER buy 5 U 66 12 month 09.01.2013
JPMorgan BRIAN J TUNICK neutral 3 M 60 9 month 03.12.2012
Crowell, Weedon & Co SCOTT M SWANSON buy 5 M 70 18 month 16.11.2012
Holdings By:
Babcock International Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Tate & Lyle PLC is the holding company for an international group of companies
in a variety of form factors using our flash memory, proprietary controller and
firmware technologies. The Company's solutions include removable cards,
embedded products, universal serial bus, or USB, drives, digital media players,
wafers and components.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (22.03.2013) 852.00
52-Week Low (10.09.2012) 627.50
Daily Volume
819
52-Week High % Change -3.99% Dividend Yield 3.08
52-Week Low % Change 30.36% Beta 0.64
% 52 Week Price Range High/Low 91.09% Equity Float 465.08
Shares Out 05.03.2013 466.3 Short Int -
3'819.05 1 Yr Total Return 20.01%
Total Debt 946.00 YTD Return 7.35%
Preferred Stock 0.0 Adjusted BETA 0.644
Minority Interest 25.0 Analyst Recs 19
Cash and Equivalents 424.00 Consensus Rating 3.684
Enterprise Value 4'260.05
Average Volume 5 Day 1'419'578
TATE LN EQUITY YTD Change - Average Volume 30 Day 1'413'449
TATE LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'314'429
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 12/yy 03/13 Y 03/14 Y - -
2'867.0 3'553.0 2'533.0 2'720.0 3'088.0 - - 3'268.8 3'479.1 - -
1.23x 0.69x 1.15x 1.17x 1.24x - - 1.31x 1.19x - -
339.0 296.0 373.0 418.0 440.0 - - 456.3 491.4 - -
10.44x 8.24x 7.83x 7.62x 8.70x - - 9.34x 8.67x - -
194.0 65.0 15.0 163.0 305.0 - - 263.3 288.1 - -
22.69x 13.36x - 13.56x 10.70x - - 14.76x 13.58x - -
EBITDA 440.00 Long-Term Rating Date 15.07.2011
EBIT 337.00 Long-Term Rating BBB
Operating Margin 10.91% Long-Term Outlook STABLE
Pretax Margin 12.27% Short-Term Rating Date 15.07.2011
Return on Assets 10.49% Short-Term Rating A-2
Return on Common Equity 30.95%
Return on Capital 17.31% EBITDA/Interest Exp. 13.33
Asset Turnover 1.13% (EBITDA-Capex)/Interest Exp. 10.24
Net Debt/EBITDA 1.16
Gross Margin - Total Debt/EBITDA 2.26
EBITDA Margin 12.0%
EBIT Margin 8.5% Total Debt/Equity 91.6%
Net Income Margin 9.9% Total Debt/Capital 47.2%
Asset Turnover 1.13
Current Ratio 2.01 Net Fixed Asset Turnover 3.53
Quick Ratio 1.00 Accounts receivable turnover-days 38.91
Debt to Assets 32.55% Inventory Days -
Tot Debt to Common Equity 91.58% Accounts Payable Turnover Day -
Accounts Receivable Turnover 9.41 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Tate & Lyle PLCPrice/Volume
Valuation Analysis
301'442.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 17'359'506 7.18 519'757 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 14'144'750 5.85 273'650 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 13'772'396 5.69 (4'813'870) 31.12.2012 Investment Advisor
CLEARBRIDGE INVESTME CLEARBRIDGE INVESTME 13F 10'649'095 4.4 173'278 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 9'770'368 4.04 (2'981'651) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 9'546'595 3.95 113'023 26.03.2013 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 7'073'816 2.92 147'100 31.12.2012 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 5'720'676 2.37 - 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 5'493'814 2.27 (297'990) 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 4'819'428 1.99 389'070 31.12.2012 Investment Advisor
EDINBURGH PARTNERS L EDINBURGH PARTNERS L 13F 4'511'060 1.87 (177'894) 31.12.2012 Investment Advisor
VIKING GLOBAL INVEST VIKING GLOBAL INVEST 13F 4'482'305 1.85 3'542'305 31.12.2012 Hedge Fund Manager
LEGG MASON INC Multiple Portfolios MF-AGG 4'451'294 1.84 41'763 31.12.2012 Investment Advisor
KENSICO CAPITAL MANA KENSICO CAPITAL MANA 13F 4'244'000 1.75 1'084'200 31.12.2012 Hedge Fund Manager
DISCOVERY CAPITAL MA DISCOVERY CAPITAL MA 13F 3'585'900 1.48 2'131'900 31.12.2012 Hedge Fund Manager
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 3'510'069 1.45 (259'067) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'388'893 1.4 (38'398) 31.12.2012 Investment Advisor
HARARI ELI n/a Form 5 3'283'017 1.36 - 02.01.2011 n/a
NORGES BANK NORGES BANK 13F 2'897'220 1.2 (3'685'038) 31.12.2012 Government
INVESCO LTD INVESCO LTD 13F 2'626'387 1.09 (245'762) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Investec RYAN GOODMAN underperform 1 M 58 Not Provided 27.03.2013
Sterne, Agee & Leach VIJAY R RAKESH buy 5 M 60 12 month 26.03.2013
Robert W. Baird & Co TRISTAN GERRA neutral 3 M 47 12 month 25.03.2013
Susquehanna Financial Group MEHDI HOSSEINI Positive 4 M 70 12 month 24.03.2013
Pacific Crest Securities MONIKA GARG outperform 5 M 56 12 month 22.03.2013
Cowen and Company TIMOTHY M ARCURI neutral 3 M #N/A N/A Not Provided 22.03.2013
MKM Partners DANIEL A BERENBAUM neutral 3 M 43 12 month 22.03.2013
Sanford C. Bernstein & Co MARK C NEWMAN outperform 5 M 65 12 month 21.03.2013
Argus Research Corp JAMES KELLEHER buy 5 M 65 Not Provided 20.03.2013
Raymond James HANS C MOSESMANN outperform 5 M 62 12 month 18.03.2013
B Riley & Company, Inc CRAIG ELLIS buy 5 M 67 Not Provided 18.03.2013
Piper Jaffray JAGADISH IYER overweight 5 M 60 12 month 15.03.2013
RBC Capital Markets DOUG FREEDMAN outperform 5 M 65 12 month 14.03.2013
Macquarie DEEPON NAG outperform 5 N 65 12 month 14.03.2013
Morgan Stanley JOSEPH MOORE Overwt/In-Line 5 M 60 12 month 13.03.2013
Goldman Sachs JAMES SCHNEIDER buy/attractive 5 M 58 6 month 13.03.2013
Wedbush BETSY VAN HEES outperform 5 M 55 12 month 04.03.2013
Cross Research STEVEN B FOX buy 5 M 60 12 month 27.02.2013
Lazard Capital Markets DANIEL L AMIR buy 5 M 58 12 month 14.02.2013
Stifel KEVIN E CASSIDY buy 5 M 54 12 month 08.02.2013
Needham & Co RAJVINDRA S. GILL buy 5 M 60 12 month 04.02.2013
EVA Dimensions ANDREW S ZAMFOTIS sell 1 D #N/A N/A Not Provided 01.02.2013
Nomura SIDNEY HO buy 5 M 55 12 month 31.01.2013
Deutsche Bank BOB GUJAVARTY hold 3 M 45 12 month 24.01.2013
JPMorgan HARLAN SUR neutral 3 M 56 9 month 24.01.2013
Jefferies SUNDEEP BAJIKAR buy 5 M 59 12 month 24.01.2013
S&P Capital IQ ANGELO ZINO buy 5 D 58 12 month 24.01.2013
Gabelli & Co HENDI SUSANTO buy 5 M #N/A N/A Not Provided 24.01.2013
Credit Suisse JOHN W PITZER outperform 5 M 55 Not Provided 23.01.2013
Tigress Financial Partners IVAN FEINSETH strong buy 5 N #N/A N/A Not Provided 02.11.2012
JMP Securities ALEX GAUNA market perform 3 M #N/A N/A Not Provided 17.10.2012
BOE Securities BINDAL PARIKH TOTLANI buy 5 M 46 12 month 01.08.2012
Holdings By:
Tate & Lyle PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Meggitt plc operates an engineering group, which specializes in aerospace,
infrastructure in the United States. The Company offers both site leasing and
site development services. SBA leases antenna space on its multi-tenant towers
to a variety of wireless service providers under long-term lease contracts. The
Company also offers site development consulting and construction.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (25.03.2013) 496.80
52-Week Low (14.06.2012) 362.50
Daily Volume
482.1
52-Week High % Change -3.06% Dividend Yield 2.45
52-Week Low % Change 32.86% Beta 1.01
% 52 Week Price Range High/Low 91.36% Equity Float 742.94
Shares Out 06.03.2013 785.1 Short Int -
3'784.89 1 Yr Total Return 23.77%
Total Debt 747.40 YTD Return 28.11%
Preferred Stock 0.0 Adjusted BETA 1.015
Minority Interest 0.0 Analyst Recs 16
Cash and Equivalents 104.90 Consensus Rating 3.813
Enterprise Value 4'427.39
Average Volume 5 Day 1'394'636
MGGT LN EQUITY YTD Change - Average Volume 30 Day 1'401'534
MGGT LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'501'782
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
1'162.6 1'150.5 1'162.0 1'455.3 1'605.8 - - 1'701.1 1'797.0 - -
1.82x 2.25x 2.84x 2.43x 2.27x - - 2.58x 2.38x - -
290.1 379.3 362.5 425.5 491.6 - - 500.3 533.2 - -
7.29x 6.83x 9.11x 8.31x 7.41x - - 8.85x 8.30x - -
99.1 138.8 138.8 184.9 243.3 - - 291.3 312.3 - -
10.67x 12.67x 18.43x 14.69x 12.29x - - 12.89x 11.82x - -
EBITDA 491.60 Long-Term Rating Date -
EBIT 336.90 Long-Term Rating -
Operating Margin 20.98% Long-Term Outlook -
Pretax Margin 18.19% Short-Term Rating Date -
Return on Assets 6.18% Short-Term Rating -
Return on Common Equity 13.16%
Return on Capital 11.22% EBITDA/Interest Exp. 7.35
Asset Turnover 0.41% (EBITDA-Capex)/Interest Exp. 6.82
Net Debt/EBITDA 1.31
Gross Margin 42.1% Total Debt/EBITDA 1.52
EBITDA Margin 30.6%
EBIT Margin 21.0% Total Debt/Equity 39.2%
Net Income Margin 15.2% Total Debt/Capital 28.2%
Asset Turnover 0.41
Current Ratio 1.20 Net Fixed Asset Turnover 6.95
Quick Ratio 0.18 Accounts receivable turnover-days -
Debt to Assets 19.24% Inventory Days 112.01
Tot Debt to Common Equity 39.23% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 104.66
Inventory Turnover 3.27
Fiscal Year Ended
Meggitt PLCPrice/Volume
Valuation Analysis
407'156.00
Current Price (3/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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400.0
600.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL GROUP COMPAN n/a ULT-AGG 12'208'555 9.62 140'821 31.12.2012 Investment Advisor
WINSLOW CAPITAL MANA WINSLOW CAPITAL MANA 13F 6'338'878 4.99 81'285 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 6'263'342 4.93 (53'029) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 5'888'125 4.64 145'095 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 5'855'874 4.61 (4'426) 25.03.2013 Investment Advisor
TIMESSQUARE CAPITAL TIMESSQUARE CAPITAL 13F 5'682'550 4.48 (617'000) 31.12.2012 Investment Advisor
BAMCO INC BAMCO INC 13F 5'501'746 4.33 (178'257) 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 5'253'590 4.14 1'508'618 31.12.2012 Investment Advisor
COLUMBIA WANGER ASSE COLUMBIA WANGER ASSE 13F 4'427'000 3.49 (30'000) 31.12.2012 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 4'204'203 3.31 1'134'458 31.12.2012 Investment Advisor
MACKAY SHIELDS LLC Multiple Portfolios MF-AGG 3'516'522 2.77 (29'000) 31.01.2013 Investment Advisor
CITADEL ADVISORS LLC CITADEL ADVISORS LLC 13F 3'289'965 2.59 1'631'825 31.12.2012 Hedge Fund Manager
INVESCO LTD INVESCO LTD 13F 3'083'619 2.43 1'352'937 31.12.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 2'946'325 2.32 (875'071) 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 2'928'535 2.31 404'165 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 2'740'060 2.16 (158'405) 31.12.2012 Investment Advisor
PRUDENTIAL FINANCIAL n/a ULT-AGG 2'646'346 2.08 117'525 31.01.2013 Investment Advisor
POINTSTATE CAPITAL POINTSTATE CAPITAL L 13F 2'522'500 1.99 1'373'100 31.12.2012 Hedge Fund Manager
JANUS CAPITAL MANAGE n/a ULT-AGG 2'434'513 1.92 (461'740) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 2'375'509 1.87 136'640 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Espirito Santo Investment Bank ResearchJENNIFER M FRITZSCHE outperform 5 M #N/A N/A Not Provided 15.03.2013
Macquarie KEVIN SMITHEN neutral 3 M 77 12 month 13.03.2013
Stifel BEN LOWE buy 5 M 83 12 month 13.03.2013
Evercore Partners JONATHAN SCHILDKRAUT overweight 5 M 83 12 month 12.03.2013
Pacific Crest Securities MICHAEL BOWEN outperform 5 M 98 12 month 07.03.2013
Cowen and Company COLBY SYNESAEL outperform 5 M #N/A N/A Not Provided 06.03.2013
RBC Capital Markets JONATHAN ATKIN top pick 5 M 85 12 month 01.03.2013
Piper Jaffray CHRISTOPHER M LARSEN overweight 5 M 83 12 month 26.02.2013
Morgan Stanley SIMON FLANNERY Overwt/In-Line 5 M 77 12 month 24.02.2013
Canaccord Genuity Corp GREGORY MILLER buy 5 M 85 12 month 24.02.2013
JPMorgan PHILIP CUSICK overweight 5 M 80 9 month 22.02.2013
Raymond James RICHARD H PRENTISS JR strong buy 5 M 81 12 month 22.02.2013
Nomura MICHAEL L MCCORMACK buy 5 M 85 12 month 22.02.2013
Atlantic Equities LLP CHRISTOPHER WATTS neutral 3 M 73 12 month 22.02.2013
New Street Research JONATHAN CHAPLIN buy 5 M 75 Not Provided 21.02.2013
Goldman Sachs JASON ARMSTRONG buy/attractive 5 M 78 12 month 22.01.2013
Deutsche Bank BRETT FELDMAN buy 5 M 85 12 month 15.01.2013
EVA Dimensions ANDREW S ZAMFOTIS sell 1 M #N/A N/A Not Provided 15.01.2013
S&P Capital IQ JAMES G MOORMAN buy 5 M 84 12 month 02.01.2013
Holdings By:
Meggitt PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Resolution Limited is a life insurance company. The Company provides life
enterprise applications, client compute applications, client non-compute
applications, personal data backup systems, portable external storage systems
and digital media systems. The Company also provides data storage services for
businesses, including online backup, data protection and recovery solutions.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.03.2013) 278.40
52-Week Low (27.06.2012) 189.80
Daily Volume
271.1
52-Week High % Change -2.80% Dividend Yield 7.81
52-Week Low % Change 42.57% Beta 1.06
% 52 Week Price Range High/Low 91.65% Equity Float 1'407.35
Shares Out 01.03.2013 1'418.1 Short Int -
3'844.49 1 Yr Total Return 10.63%
Total Debt 1'099.00 YTD Return 9.33%
Preferred Stock 0.0 Adjusted BETA 1.055
Minority Interest 321.0 Analyst Recs 19
Cash and Equivalents 9'449.00 Consensus Rating 3.158
Enterprise Value -
Average Volume 5 Day 3'611'942
RSL LN EQUITY YTD Change - Average Volume 30 Day 2'816'208
RSL LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'663'164
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 09/11 Q3 12/11 Q4
- 2'816.0 11'115.0 4'238.0 11'130.0 11'560.0 16'332.0 1'567.0 1'758.0 272.0 -
- - - - - 2.36x 2.89x 1.88x 1.67x - -
- - - - - 1'968.0 4'319.0 - - - -
- - - - - 4.23x 2.70x - - - -
- 1'280.0 765.0 (62.0) (72.0) 915.0 3'233.0 360.4 404.1 - -
- 0.65x 2.89x - - 7.42x 3.96x 10.80x 9.65x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin -0.29% Long-Term Outlook -
Pretax Margin -1.73% Short-Term Rating Date -
Return on Assets -0.06% Short-Term Rating -
Return on Common Equity -1.30%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.09% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 20.4%
Net Income Margin -0.6% Total Debt/Capital 16.2%
Asset Turnover 0.09
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 0.86% Inventory Days -
Tot Debt to Common Equity 20.44% 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
Resolution LtdPrice/Volume
Valuation Analysis
1'773'061.00
Current Price (3/dd/yy) Market Data
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14'000.0
16'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FMR LLC n/a Form 3 45'239'490 12.61 - 27.01.2012 Corporation
FMR LLC n/a ULT-AGG 31'929'428 8.9 (771'386) 31.12.2012 Investment Advisor
LEGG MASON INC n/a RNS-MAJ 23'472'945 6.54 - 22.11.2010 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 22'855'845 6.37 (493'828) 31.12.2012 Investment Advisor
CLEARBRIDGE INVESTME CLEARBRIDGE INVESTME 13F 19'056'988 5.31 (357'691) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 15'824'233 4.41 3'016'421 25.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 12'445'351 3.47 (1'069'926) 26.03.2013 Investment Advisor
ALKEN ASSET MANAGEME ALKEN ASSET MANAGEME 13F 10'436'769 2.91 (11'717) 31.12.2012 Investment Advisor
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 9'947'957 2.77 (575'260) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 8'890'851 2.48 1'200'912 31.12.2012 Investment Advisor
GREENLIGHT CAPITAL I GREENLIGHT CAPITAL I 13F 8'370'896 2.33 (8'217'244) 31.12.2012 Hedge Fund Manager
NORGES BANK NORGES BANK 13F 7'870'096 2.19 4'757'641 31.12.2012 Government
FIRST TRUST n/a ULT-AGG 6'463'432 1.8 (1'143) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 6'463'429 1.8 (907'092) 31.12.2012 Investment Advisor
ROBECO INVESTMENT MG ROBECO INVESTMENT MA 13F 5'381'133 1.5 (866'533) 31.12.2012 Investment Advisor
BRANDES INVESTMENT P BRANDES INVESTMENT P 13F 4'189'394 1.17 3'049'571 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 4'022'832 1.12 2'460'369 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'744'195 1.04 (142'206) 31.12.2012 Investment Advisor
BARCLAYS PLC n/a ULT-AGG 3'325'324 0.93 2'707'096 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 3'306'052 0.92 (298'500) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets ANANDA BARUAH buy 5 M 39 12 month 26.03.2013
Longbow Research JOE WITTINE neutral 3 M #N/A N/A Not Provided 20.03.2013
Wells Fargo Securities, LLC MAYNARD UM market perform 3 M #N/A N/A Not Provided 15.03.2013
Tigress Financial Partners IVAN FEINSETH buy 5 N #N/A N/A Not Provided 15.03.2013
BMO Capital Markets KEITH F BACHMAN market perform 3 M 35 Not Provided 14.03.2013
Daiwa Securities Co. Ltd. YOKO YAMADA neutral 3 U 36 Not Provided 13.03.2013
Pacific Crest Securities MONIKA GARG sector perform 3 M #N/A N/A Not Provided 06.03.2013
Lazard Capital Markets EDWARD PARKER buy 5 M 42 12 month 11.02.2013
Stifel AARON C RAKERS hold 3 M #N/A N/A Not Provided 06.02.2013
Barclays BENJAMIN A REITZES underweight 1 D 29 Not Provided 31.01.2013
Argus Research Corp JAMES KELLEHER hold 3 M #N/A N/A Not Provided 30.01.2013
Deutsche Bank SHERRI SCRIBNER hold 3 M 40 12 month 29.01.2013
Morgan Stanley KATHRYN HUBERTY Equalwt/In-Line 3 M #N/A N/A Not Provided 29.01.2013
Goldman Sachs WILLIAM C SHOPE JR neutral/neutral 3 M 29 6 month 29.01.2013
RBC Capital Markets AMIT DARYANANI sector perform 3 M 35 12 month 29.01.2013
JPMorgan MARK A MOSKOWITZ underweight 1 M 20 9 month 29.01.2013
Needham & Co RICHARD J KUGELE hold 3 M #N/A N/A Not Provided 29.01.2013
Robert W. Baird & Co JAYSON NOLAND SR neutral 3 M 35 12 month 29.01.2013
Evercore Partners ROBERT CIHRA equalweight 3 D 36 12 month 29.01.2013
Noble Financial Group MARK S MILLER hold 3 M 25 Not Provided 29.01.2013
S&P Capital IQ ANGELO ZINO sell 1 M 31 Not Provided 29.01.2013
Craig-Hallum Capital Group LLC CHRISTIAN SCHWAB buy 5 M 40 12 month 29.01.2013
Cross Research STEVEN B FOX hold 3 M 39 12 month 29.01.2013
Credit Agricole Securities (USA) AVI SILVER underperform 1 M 35 Not Provided 29.01.2013
FBN Securities SHEBLY SEYRAFI sector perform 3 D 40 12 month 29.01.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013
Wedge Partners KIRK ADAMS no rating system #N/A N/A M #N/A N/A Not Provided 14.01.2013
Holdings By:
Resolution Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Petrofac Limited is an international provider of facilities solutions to the
retail stores in the United States and Canada. The Company retails home
appliances, as well as tools, lawn and garden products, home electronics, and
other products. Sears Holdings also provides automotive repair and maintenance.
Latest Fiscal Year: 12/2012
LTM as of: 02/yy
52-Week High (20.04.2012) 1'784.00
52-Week Low (27.06.2012) 1'324.00
Daily Volume
1424
52-Week High % Change -20.18% Dividend Yield 2.98
52-Week Low % Change 7.55% Beta 1.20
% 52 Week Price Range High/Low 25.87% Equity Float 246.99
Shares Out 06.09.2012 345.9 Short Int -
4'925.49 1 Yr Total Return -13.78%
Total Debt 349.00 YTD Return -12.26%
Preferred Stock 0.0 Adjusted BETA 1.202
Minority Interest 1.0 Analyst Recs 23
Cash and Equivalents 699.00 Consensus Rating 3.522
Enterprise Value 7'090.22
Average Volume 5 Day 1'268'154
PFC LN EQUITY YTD Change - Average Volume 30 Day 1'457'684
PFC LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'109'118
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 02/yy 12/13 Y 12/14 Y - -
3'329.5 3'655.4 4'354.2 5'800.7 6'324.0 - - 6'747.2 7'330.3 - -
0.34x 1.20x 1.69x 1.05x 1.36x - - 1.09x 1.00x - -
420.9 550.2 637.7 764.0 859.0 - - 1'073.1 1'254.5 - -
2.69x 7.94x 11.56x 7.96x 10.04x - - 6.61x 5.65x - -
265.0 353.6 557.8 539.4 632.0 - - 694.1 782.8 - -
6.46x 16.07x 15.03x 14.05x 14.18x - - 10.70x 9.43x - -
EBITDA 859.00 Long-Term Rating Date -
EBIT 729.00 Long-Term Rating -
Operating Margin 11.53% Long-Term Outlook -
Pretax Margin 12.10% Short-Term Rating Date -
Return on Assets 12.36% Short-Term Rating -
Return on Common Equity 47.52%
Return on Capital 41.04% EBITDA/Interest Exp. 171.80
Asset Turnover 1.24% (EBITDA-Capex)/Interest Exp. 92.40
Net Debt/EBITDA -0.41
Gross Margin 17.1% Total Debt/EBITDA 0.41
EBITDA Margin 13.6%
EBIT Margin 11.5% Total Debt/Equity 22.5%
Net Income Margin 10.0% Total Debt/Capital 18.4%
Asset Turnover 1.24
Current Ratio 1.03 Net Fixed Asset Turnover 8.44
Quick Ratio 0.59 Accounts receivable turnover-days 60.66
Debt to Assets 6.55% Inventory Days 45.56
Tot Debt to Common Equity 22.53% Accounts Payable Turnover Day 85.61
Accounts Receivable Turnover 6.03 Cash Conversion Cycle 20.61
Inventory Turnover 8.03
Fiscal Year Ended
Petrofac LtdPrice/Volume
Valuation Analysis
155'011.00
Current Price (3/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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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ASFARI AYMAN RBS PARTNERS L P 13F 36'334'181 34.15 (5'939'961) 31.12.2012 Hedge Fund Manager
RBS PARTNERS L P n/a 13D 33'856'069 31.82 (2'478'112) 20.03.2013 Hedge Fund Manager
LAMPERT EDWARD S n/a 13D 25'041'046 23.54 - 20.03.2013 n/a
FAIRHOLME CAPITAL MA FAIRHOLME CAPITAL MA 13F 18'146'573 17.06 1'212'493 31.12.2012 Investment Advisor
TISCH THOMAS J n/a PROXY 3'869'816 3.64 (58'140) 10.02.2012 n/a
HORIZON KINETICS n/a ULT-AGG 3'047'600 2.86 (84'798) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 2'515'679 2.36 106'510 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 1'722'598 1.62 52'457 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 1'446'408 1.36 (1'864) 25.03.2013 Investment Advisor
INVESCO LTD INVESCO LTD 13F 1'114'743 1.05 (109'420) 31.12.2012 Investment Advisor
FINE CAPITAL PARTNER FINE CAPITAL PARTNER 13F 1'106'100 1.04 406'900 31.12.2012 Hedge Fund Manager
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 948'073 0.89 (10'500) 31.12.2012 Investment Advisor
OLD WEST INVESTMENT OLD WEST INVESTMENT 13F 905'445 0.85 905'445 31.12.2012 Investment Advisor
CHOU ASSOCIATES MANA CHOU ASSOCIATES MANA 13F 683'700 0.64 - 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 344'220 0.32 (54'262) 31.12.2012 Government
SOUTHPOINT CAPITAL A SOUTHPOINT CAPITAL A 13F 325'000 0.31 125'000 31.12.2012 Hedge Fund Manager
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 323'511 0.3 (241'439) 31.12.2012 Investment Advisor
UOB GLOBAL STRATEGIE Multiple Portfolios MF-AGG 306'600 0.29 3'400 28.02.2013 Mutual Fund Manager
BARCLAYS PLC n/a ULT-AGG 300'019 0.28 16'219 31.12.2012 Investment Advisor
AKRE CAPITAL MANAGEM AKRE CAPITAL MANAGEM 13F 300'000 0.28 - 31.12.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale GREGORY MELICH sell 1 M 22 12 month 24.03.2013
Argus Research Corp CHRISTOPHER GRAJA hold 3 M #N/A N/A Not Provided 05.03.2013
Credit Suisse GARY BALTER underperform 1 M 20 Not Provided 04.03.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 01.03.2013
Longbow Research DAVID S MACGREGOR not rated #N/A N/A M #N/A N/A Not Provided 14.01.2013
S&P Capital IQ JASON ASAEDA hold 3 M 44 Not Provided 08.01.2013
Imperial Capital LLC MARY ROSS-GILBERT underperform 1 M #N/A N/A Not Provided 02.05.2012
Holdings By:
Petrofac Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Croda International plc is the holding company for a group of companies that
broad range of chemicals, biochemicals and equipment. The Company's chemical
products and kits are used in scientific research, including genomic and
proteomic, biotechnology, pharmaceutical development and as key components in
pharmaceutical, diagnostic and other high technology manufacturing.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (25.03.2013) 2'784.00
52-Week Low (01.11.2012) 2'000.00
Daily Volume
2710
52-Week High % Change -2.66% Dividend Yield 2.20
52-Week Low % Change 35.50% Beta 0.89
% 52 Week Price Range High/Low 91.96% Equity Float 138.63
Shares Out 31.12.2012 140.0 Short Int -
3'792.64 1 Yr Total Return 30.72%
Total Debt 261.50 YTD Return 14.06%
Preferred Stock 0.0 Adjusted BETA 0.890
Minority Interest 0.1 Analyst Recs 18
Cash and Equivalents 53.80 Consensus Rating 3.556
Enterprise Value 4'000.44
Average Volume 5 Day 270'417
CRDA LN EQUITY YTD Change - Average Volume 30 Day 329'740
CRDA LN EQUITY YTD % CHANGE - Average Volume 3 Month 316'498
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 12/12 Q4 03/13 Q1
911.1 827.5 1'001.9 1'028.0 1'051.9 2'505.0 2'623.0 1'128.6 1'201.6 250.3 297.0
1.24x 1.70x 2.44x 2.68x 3.36x 12.45x 13.58x 3.51x 3.26x - -
143.5 136.7 232.7 269.2 286.5 761.0 809.0 315.6 343.4 72.2 78.6
7.87x 10.32x 10.49x 10.24x 12.33x 9.74x 10.86x 12.68x 11.65x 12.85x 12.72x
61.0 23.8 130.8 167.5 161.9 457.0 460.0 186.6 205.2 41.2 47.1
10.82x 18.78x 16.94x 15.02x 18.28x 16.61x 19.01x 19.67x 18.01x 19.97x 19.64x
EBITDA 286.50 Long-Term Rating Date -
EBIT 255.40 Long-Term Rating -
Operating Margin 24.28% Long-Term Outlook -
Pretax Margin 24.07% Short-Term Rating Date -
Return on Assets 16.18% Short-Term Rating -
Return on Common Equity 53.06%
Return on Capital 29.34% EBITDA/Interest Exp. 30.81
Asset Turnover 1.05% (EBITDA-Capex)/Interest Exp. 25.39
Net Debt/EBITDA 0.72
Gross Margin 34.0% Total Debt/EBITDA 0.91
EBITDA Margin 27.2%
EBIT Margin 24.3% Total Debt/Equity 76.0%
Net Income Margin 15.4% Total Debt/Capital 43.2%
Asset Turnover 1.05
Current Ratio 2.22 Net Fixed Asset Turnover 3.10
Quick Ratio 0.31 Accounts receivable turnover-days -
Debt to Assets 26.06% Inventory Days 88.29
Tot Debt to Common Equity 75.97% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 4.15
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
Croda International PLCPrice/Volume
Valuation Analysis
53'071.00
Current Price (3/dd/yy) Market Data
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1'000.0
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2'500.0
3'000.0
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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SUN LIFE FINANCIAL I STATE FARM MUTUAL AU 13F 14'033'160 11.65 - 31.12.2012 Insurance Company
CAPITAL GROUP COMPAN n/a ULT-AGG 9'664'000 8.02 1'410'000 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 8'082'331 6.71 94'282 31.12.2012 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU Sch-D 6'628'173 5.5 - 30.09.2012 Insurance Company
BLACKROCK n/a ULT-AGG 6'362'714 5.28 - 25.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 6'162'455 5.12 102'546 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 6'110'994 5.07 249'486 25.03.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'280'000 2.72 (100'000) 31.12.2012 Investment Advisor
STATE FARM INSURANCE Multiple Portfolios MF-AGG 3'251'389 2.7 - 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 2'841'014 2.36 93'101 31.12.2012 Investment Advisor
HARDING LOEVNER LP HARDING LOEVNER LP 13F 2'714'070 2.25 198'666 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 2'675'280 2.22 (10'687) 31.12.2012 Unclassified
INVESCO LTD INVESCO LTD 13F 2'317'018 1.92 (174'811) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 2'267'527 1.88 111'294 31.12.2012 Unclassified
SELECT EQUITY GROUP SELECT EQUITY GROUP 13F 2'083'764 1.73 (591'966) 31.12.2012 Hedge Fund Manager
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'817'182 1.51 (13'366) 31.12.2012 Investment Advisor
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 1'173'300 0.97 38'300 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 1'150'995 0.96 (2'553) 28.02.2013 Investment Advisor
FAIRPOINTE CAPITAL L FAIRPOINTE CAPITAL L 13F 1'138'832 0.95 (26'160) 31.12.2012 Investment Advisor
CAPITAL COUNSEL LLC CAPITAL COUNSEL LLC 13F 1'136'232 0.94 9'630 31.12.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
HSBC TRACY MARSHBANKS equalweight 3 M #N/A N/A Not Provided 26.03.2013
Longbow Research DMITRY SILVERSTEYN neutral 3 M #N/A N/A Not Provided 26.03.2013
KeyBanc Capital Markets MICHAEL J SISON buy 5 M 86 12 month 25.03.2013
Wells Fargo Securities, LLC TIM EVANS market perform 3 M #N/A N/A Not Provided 25.03.2013
Jefferies JON WOOD hold 3 M 67 12 month 22.03.2013
Robert W. Baird & Co JEFF T ELLIOTT outperform 5 M 85 12 month 22.03.2013
Macquarie JONATHAN P GROBERG neutral 3 M 76 12 month 22.03.2013
JPMorgan TYCHO W PETERSON neutral 3 M 74 9 month 21.03.2013
Leerink Swann & Co DANIEL L LEONARD market perform 3 M #N/A N/A Not Provided 21.03.2013
Mizuho Securities USA Inc PETER R LAWSON neutral 3 M 70 12 month 21.03.2013
Edward Jones MATT ARNOLD buy 5 M #N/A N/A Not Provided 14.03.2013
EVA Dimensions CRAIG STERLING underweight 1 D #N/A N/A Not Provided 01.03.2013
Credit Agricole Securities (USA) PAUL R KNIGHT outperform 5 M 89 Not Provided 07.02.2013
Goldman Sachs ISAAC RO neutral/neutral 3 M 72 12 month 16.01.2013
Holdings By:
Croda International PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Antofagasta plc owns and operates copper mines in Chile and conducts
The Company provides its services throughout the continental United States for
a monthly subscription fee. Sirius delivers various streams of commercial-free
music in every genre, as well as streams of news, sports, weather, talk,
comedy, and public radio.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (02.01.2013) 1'392.00
52-Week Low (01.06.2012) 972.00
Daily Volume
1029
52-Week High % Change -26.08% Dividend Yield 1.35
52-Week Low % Change 5.86% Beta 1.56
% 52 Week Price Range High/Low 11.67% Equity Float 345.83
Shares Out 31.12.2012 985.9 Short Int -
10'144.47 1 Yr Total Return -10.71%
Total Debt 1'889.20 YTD Return -22.28%
Preferred Stock 0.0 Adjusted BETA 1.562
Minority Interest 1'694.2 Analyst Recs 28
Cash and Equivalents 4'296.50 Consensus Rating 3.143
Enterprise Value 14'608.09
Average Volume 5 Day 1'643'335
ANTO LN EQUITY YTD Change - Average Volume 30 Day 2'331'777
ANTO LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'955'072
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 09/12 Q3 12/12 Q4
3'372.6 2'962.6 4'577.1 6'076.0 6'740.1 3'014.5 3'402.0 6'611.0 6'485.4 1'587.8 1'761.5
1.29x 5.22x 5.42x 3.14x 3.04x 12.53x 15.43x 2.25x 2.22x - -
1'776.4 1'676.9 2'881.1 3'519.3 3'854.4 941.2 1'135.5 3'395.1 3'306.8 923.4 1'010.0
2.45x 9.23x 8.60x 5.41x 5.32x 9.64x 15.08x 4.30x 4.42x - -
1'706.5 667.7 1'051.8 1'236.6 1'032.0 427.0 3'472.7 1'292.9 1'229.4 - -
3.58x 23.65x 23.56x 15.02x 20.54x 26.00x 5.35x 11.97x 12.69x - -
EBITDA 3'854.40 Long-Term Rating Date -
EBIT 3'360.20 Long-Term Rating -
Operating Margin 49.85% Long-Term Outlook -
Pretax Margin 40.86% Short-Term Rating Date -
Return on Assets 8.40% Short-Term Rating -
Return on Common Equity 15.51%
Return on Capital 17.50% EBITDA/Interest Exp. 33.37
Asset Turnover 0.55% (EBITDA-Capex)/Interest Exp. 25.81
Net Debt/EBITDA -0.62
Gross Margin 63.4% Total Debt/EBITDA 0.49
EBITDA Margin 57.2%
EBIT Margin 49.9% Total Debt/Equity 26.6%
Net Income Margin 15.3% Total Debt/Capital 17.7%
Asset Turnover 0.55
Current Ratio 4.35 Net Fixed Asset Turnover 1.04
Quick Ratio 3.30 Accounts receivable turnover-days 57.78
Debt to Assets 14.68% Inventory Days 76.88
Tot Debt to Common Equity 26.57% Accounts Payable Turnover Day 68.81
Accounts Receivable Turnover 6.33 Cash Conversion Cycle 77.50
Inventory Turnover 4.76
Fiscal Year Ended
Antofagasta PLCPrice/Volume
Valuation Analysis
443'329.00
Current Price (3/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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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
METALINVEST ESTABLIS #N/A N/A Form 4 3'292'800'312 50.2 1'293'509'076 18.01.2013 Corporation
VANGUARD GROUP INC VANGUARD GROUP INC 13F 172'865'323 2.64 27'210 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 140'713'322 2.15 12'403'250 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 135'891'974 2.07 (8'464'407) 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 127'023'677 1.94 42'264'166 31.12.2012 Investment Advisor
WINSLOW CAPITAL MANA WINSLOW CAPITAL MANA 13F 124'012'478 1.89 124'012'478 31.12.2012 Investment Advisor
OMEGA ADVISORS OMEGA ADVISORS INC 13F 71'479'203 1.09 7'546'900 31.12.2012 Hedge Fund Manager
SAC CAPITAL ADVISORS SAC CAPITAL ADVISORS 13F 69'783'900 1.06 (61'592'700) 31.12.2012 Hedge Fund Manager
MACKAY SHIELDS LLC Multiple Portfolios MF-AGG 68'693'100 1.05 - 31.01.2013 Investment Advisor
STATE STREET n/a ULT-AGG 60'022'765 0.92 1'049'754 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 56'266'945 0.86 7'889'974 31.12.2012 Investment Advisor
COATUE MANAGEMENT LL COATUE MANAGEMENT LL 13F 45'794'813 0.7 (4'437'368) 31.12.2012 Hedge Fund Manager
ALGER MANAGEMENT INC FRED ALGER MANAGEMEN 13F 45'224'130 0.69 17'004'984 31.12.2012 Investment Advisor
BLUE RIDGE CAPITAL L BLUE RIDGE CAPITAL L 13F 43'300'000 0.66 (35'500'000) 31.12.2012 Hedge Fund Manager
SLATE PATH CAPITAL L SLATE PATH CAPITAL L 13F 36'750'000 0.56 36'750'000 31.12.2012 Hedge Fund Manager
COLUMBUS CIRCLE INVE COLUMBUS CIRCLE INVE 13F 32'879'946 0.5 30'945'906 31.12.2012 Hedge Fund Manager
SCOUT CAPITAL MANAGE SCOUT CAPITAL MANAGE 13F 30'000'000 0.46 10'000'000 31.12.2012 Hedge Fund Manager
CAPITAL GROUP COMPAN n/a ULT-AGG 27'983'700 0.43 11'026'600 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 26'076'542 0.4 2'195'735 31.12.2012 Investment Advisor
HHR ASSET MANAGEMENT HHR ASSET MANAGEMENT 13F 25'068'700 0.38 (6'405'600) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Exane BNP Paribas BRYAN KRAFT overweight 5 M 4 12 month 18.03.2013
Lazard Capital Markets BARTON CROCKETT buy 5 M 4 12 month 12.03.2013
Piper Jaffray JAMES M MARSH JR overweight 5 M 3 12 month 27.02.2013
Wunderlich Securities MATTHEW HARRIGAN hold 3 M 3 18 month 26.02.2013
ISI Group VIJAY JAYANT buy 5 M 4 12 month 20.02.2013
EVA Dimensions CRAIG STERLING underweight 1 U #N/A N/A Not Provided 18.02.2013
Barrington Research JAMES C GOSS outperform 5 M 4 12 month 11.02.2013
Macquarie AMY YONG neutral 3 D 3 12 month 06.02.2013
S&P Capital IQ TUNA AMOBI buy 5 M 4 Not Provided 06.02.2013
Gabelli & Co BRETT HARRISS sell 1 M #N/A N/A Not Provided 06.02.2013
Morgan Stanley BENJAMIN SWINBURNE Equalwt/In-Line 3 M 3 12 month 05.02.2013
RBC Capital Markets DAVID BANK sector perform 3 M 3 12 month 05.02.2013
Maxim Group LLC JOHN TINKER buy 5 M 4 12 month 05.02.2013
Pivotal Research Group LLC JEFFREY WLODARCZAK buy 5 M 4 12 month 05.02.2013
Goldman Sachs MATTHEW NIKNAM buy/attractive 5 N 4 12 month 17.12.2012
Wedge Partners MARTIN PYYKKONEN no rating system #N/A N/A M #N/A N/A Not Provided 02.11.2012
Holdings By:
Antofagasta PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Hammerson plc invests in and develops property. The Company develops, builds
customers include consumers and businesses in the United States, Canada, the
United Kingdom, and Germany. Staples serves its customers through office
superstores, mail order catalogs, the Internet, and a contract business.
Latest Fiscal Year: 12/2012
LTM as of: 02/yy
52-Week High (06.03.2013) 529.50
52-Week Low (16.04.2012) 399.60
Daily Volume
479.9
52-Week High % Change -9.58% Dividend Yield 3.70
52-Week Low % Change 19.82% Beta 1.01
% 52 Week Price Range High/Low 65.90% Equity Float 677.97
Shares Out 02.01.2013 712.8 Short Int -
3'420.88 1 Yr Total Return 15.84%
Total Debt 2'080.40 YTD Return -1.95%
Preferred Stock 0.0 Adjusted BETA 1.014
Minority Interest 74.5 Analyst Recs 22
Cash and Equivalents 57.10 Consensus Rating 3.591
Enterprise Value 5'518.68
Average Volume 5 Day 1'909'526
HMSO LN EQUITY YTD Change - Average Volume 30 Day 1'870'050
HMSO LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'600'259
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 02/yy 12/13 Y 12/14 Y - -
408.5 404.8 401.5 409.7 358.0 - - 313.1 334.1 - -
12.25x 12.88x 12.08x 11.32x 15.58x - - 17.50x 16.99x - -
210.4 67.6 273.1 250.8 217.4 - - 252.1 272.4 - -
23.78x 77.10x 17.75x 18.50x 25.66x - - 21.89x 20.26x - -
(1'572.6) (344.5) 615.4 335.7 138.4 - - 155.9 166.6 - -
- - 4.78x 7.61x 38.75x - - 22.12x 20.16x - -
EBITDA 217.40 Long-Term Rating Date -
EBIT 215.90 Long-Term Rating -
Operating Margin 60.31% Long-Term Outlook -
Pretax Margin 26.12% Short-Term Rating Date -
Return on Assets 2.19% Short-Term Rating -
Return on Common Equity 3.63%
Return on Capital 3.94% EBITDA/Interest Exp. 2.11
Asset Turnover 0.06% (EBITDA-Capex)/Interest Exp. -2.22
Net Debt/EBITDA 9.31
Gross Margin 62.9% Total Debt/EBITDA 9.57
EBITDA Margin 60.7%
EBIT Margin 60.3% Total Debt/Equity 54.0%
Net Income Margin 38.7% Total Debt/Capital 34.6%
Asset Turnover 0.06
Current Ratio 0.75 Net Fixed Asset Turnover 0.06
Quick Ratio 0.22 Accounts receivable turnover-days 48.97
Debt to Assets 32.47% Inventory Days -
Tot Debt to Common Equity 54.02% Accounts Payable Turnover Day 112.88
Accounts Receivable Turnover 7.47 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Hammerson PLCPrice/Volume
Valuation Analysis
807'327.00
Current Price (3/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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15'000.0
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25'000.0
30'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
APG ALGEMENE PENSIOE n/a ULT-AGG 56'637'268 8.47 - 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 43'906'031 6.57 6'485'929 31.12.2012 Investment Advisor
PZENA INVESTMENT MAN PZENA INVESTMENT MAN 13F 39'176'664 5.86 (2'969'235) 31.12.2012 Hedge Fund Manager
ALLIANZ ASSET MANAGE n/a ULT-AGG 31'134'639 4.66 (715'650) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 29'294'133 4.38 339'748 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 28'893'250 4.32 (2'812'132) 26.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 21'366'148 3.2 63'620 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 20'406'686 3.05 (797'005) 31.12.2012 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 19'929'275 2.98 815'780 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 19'007'702 2.84 2'079'444 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 17'292'484 2.59 7'918'900 31.12.2012 Investment Advisor
HARRIS ASSOCIATES LP HARRIS ASSOC LP 13F 15'647'400 2.34 (5'699'100) 31.12.2012 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 13'838'509 2.07 231'016 31.01.2013 Investment Advisor
INTERNATIONAL VALUE INTERNATIONAL VALUE 13F 12'570'879 1.88 (539'530) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 12'213'457 1.83 10'034'655 31.12.2012 Unclassified
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 10'927'474 1.63 1'485'386 31.12.2012 Investment Advisor
FAIRPOINTE CAPITAL L FAIRPOINTE CAPITAL L 13F 9'822'560 1.47 3'125'563 31.12.2012 Investment Advisor
AMERICAN INTERNATION n/a ULT-AGG 9'014'859 1.35 8'648'346 31.12.2012 Government
EPOCH INVESTMENT PAR EPOCH INVESTMENT PAR 13F 6'428'000 0.96 (128'903) 31.12.2012 Hedge Fund Manager
HAWKINS CAPITAL LP HAWKINS CAPITAL LP 13F 6'222'400 0.93 - 31.12.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale GREGORY MELICH sell 1 M 12 12 month 24.03.2013
Janney Montgomery Scott LLC DAVID S STRASSER buy 5 M 17 12 month 18.03.2013
Sanford C. Bernstein & Co COLIN MCGRANAHAN market perform 3 M 13 12 month 12.03.2013
Jefferies DANIEL T BINDER hold 3 M 14 12 month 08.03.2013
Argus Research Corp CHRISTOPHER GRAJA buy 5 M 15 Not Provided 07.03.2013
JPMorgan CHRISTOPHER HORVERS overweight 5 M 14 9 month 07.03.2013
B Riley & Company, Inc SCOTT TILGHMAN buy 5 M 18 Not Provided 07.03.2013
Telsey Advisory Group JOSEPH I FELDMAN no rating system #N/A N/A M 14 12 month 07.03.2013
Morgan Stanley DAVID GOBER Equalwt/In-Line 3 M #N/A N/A Not Provided 06.03.2013
Goldman Sachs MATTHEW J FASSLER neutral/neutral 3 M 13 12 month 06.03.2013
Credit Suisse GARY BALTER outperform 5 M 15 Not Provided 06.03.2013
Edward Jones BRIAN YARBROUGH buy 5 M #N/A N/A Not Provided 06.03.2013
KeyBanc Capital Markets BRADLEY B THOMAS hold 3 M #N/A N/A Not Provided 06.03.2013
Oppenheimer & Co BRIAN NAGEL market perform 3 M 12 18 month 06.03.2013
BB&T Capital Markets ANTHONY CHUKUMBA buy 5 M 16 12 month 06.03.2013
Nomura ARAM RUBINSON neutral 3 M 15 12 month 06.03.2013
S&P Capital IQ IAN GORDON buy 5 M 15 Not Provided 06.03.2013
Barclays ALAN M RIFKIN equalweight 3 M 13 Not Provided 06.03.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 15.01.2013
Deutsche Bank MICHAEL BAKER hold 3 D 11 12 month 15.08.2012
Holdings By:
Hammerson PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Melrose Industries PLC is an international engineering group with worldwide
coffee. The Company operates retail locations worldwide and sells whole bean
coffees through its sales group, direct response business, supermarkets, and on
the World Wide Web. Starbucks also produces and sells bottled coffee drinks and
a line of ice creams.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (12.03.2013) 278.40
52-Week Low (16.11.2012) 198.20
Daily Volume
263.2
52-Week High % Change -5.64% Dividend Yield 2.47
52-Week Low % Change 32.54% Beta 1.23
% 52 Week Price Range High/Low 81.42% Equity Float 1'221.78
Shares Out 05.02.2013 1'266.6 Short Int -
3'333.76 1 Yr Total Return 11.93%
Total Debt 1'154.20 YTD Return 17.54%
Preferred Stock 0.0 Adjusted BETA 1.230
Minority Interest 7.1 Analyst Recs 12
Cash and Equivalents 156.50 Consensus Rating 4.333
Enterprise Value 4'338.56
Average Volume 5 Day 3'034'646
MRO LN EQUITY YTD Change - Average Volume 30 Day 3'072'873
MRO LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'696'413
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 12/yy 12/13 Y 12/14 Y - -
895.3 1'298.5 1'035.4 1'153.9 1'551.4 - - 2'344.8 2'463.9 - -
1.09x 0.94x 1.77x 1.40x 2.47x - - 1.83x 1.70x - -
103.6 156.6 147.2 180.2 233.7 - - 422.3 463.3 - -
9.45x 7.78x 12.47x 8.99x 16.41x - - 10.27x 9.37x - -
(48.3) 79.5 141.1 286.4 42.5 - - 223.0 252.8 - -
21.16x 16.36x 14.95x 13.49x 50.80x - - 14.95x 13.16x - -
EBITDA 233.70 Long-Term Rating Date -
EBIT 203.20 Long-Term Rating -
Operating Margin 13.10% Long-Term Outlook -
Pretax Margin 5.93% Short-Term Rating Date -
Return on Assets 1.37% Short-Term Rating -
Return on Common Equity 3.57%
Return on Capital - EBITDA/Interest Exp. 5.87
Asset Turnover 0.50% (EBITDA-Capex)/Interest Exp. 4.56
Net Debt/EBITDA 4.27
Gross Margin 31.2% Total Debt/EBITDA 4.94
EBITDA Margin 15.1%
EBIT Margin 13.1% Total Debt/Equity 66.5%
Net Income Margin 2.7% Total Debt/Capital 39.9%
Asset Turnover 0.50
Current Ratio 1.33 Net Fixed Asset Turnover 5.81
Quick Ratio 0.23 Accounts receivable turnover-days 67.75
Debt to Assets 26.14% Inventory Days 99.72
Tot Debt to Common Equity 66.54% Accounts Payable Turnover Day -
Accounts Receivable Turnover 5.40 Cash Conversion Cycle 91.55
Inventory Turnover 3.67
Fiscal Year Ended
Melrose Industries PLCPrice/Volume
Valuation Analysis
1'067'962.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 36'552'911 4.88 - 25.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 36'386'396 4.86 1'474'627 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 35'633'395 4.76 (2'111'027) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 34'345'408 4.58 (13'662'548) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 33'027'380 4.41 427'047 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 28'587'974 3.82 542'156 26.03.2013 Investment Advisor
SCHULTZ HOWARD D n/a Form 4 18'875'169 2.52 (1'050'000) 06.03.2013 n/a
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 12'738'762 1.7 (106'141) 31.12.2012 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 11'555'223 1.54 4'664'754 31.01.2013 Investment Advisor
SANDS CAPITAL MANAGE SANDS CAPITAL MANAGE 13F 10'787'280 1.44 303'498 31.12.2012 Investment Advisor
WINSLOW CAPITAL MANA WINSLOW CAPITAL MANA 13F 10'729'471 1.43 1'274'414 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 9'639'589 1.29 (104'731) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 9'401'174 1.25 (2'276'793) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 8'540'739 1.14 (1'398'536) 31.12.2012 Unclassified
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 8'369'222 1.12 2'216'565 31.12.2012 Investment Advisor
BROWN ADVISORY INC n/a ULT-AGG 7'623'782 1.02 7'567'551 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 6'680'224 0.89 (311'680) 31.12.2012 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 6'621'549 0.88 1'675'484 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 5'994'504 0.8 528'915 31.12.2012 Government
MARSICO CAPITAL MANA MARSICO CAPITAL MANA 13F 5'938'815 0.79 (5'544'671) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Arden Partners Ltd WILL SLABAUGH overweight 5 M 66 Not Provided 25.03.2013
Piper Jaffray NICOLE MILLER REGAN overweight 5 M 65 12 month 25.03.2013
William Blair & Co SHARON M ZACKFIA outperform 5 M #N/A N/A Not Provided 22.03.2013
Jefferies ANDREW M BARISH buy 5 M 60 12 month 21.03.2013
BMO Capital Markets PHILLIP JUHAN outperform 5 M 64 Not Provided 19.03.2013
Longbow Research ALTON K STUMP buy 5 M 65 12 month 19.03.2013
Lazard Capital Markets MATTHEW J DIFRISCO buy 5 M 74 12 month 17.03.2013
Robert W. Baird & Co DAVID E TARANTINO outperform 5 M 65 12 month 15.03.2013
Sanford C. Bernstein & Co SARA H SENATORE outperform 5 M 65 12 month 11.03.2013
JPMorgan JOHN W IVANKOE overweight 5 M 62 9 month 08.03.2013
Oppenheimer & Co BRIAN J BITTNER outperform 5 M 62 12 month 07.03.2013
Morgan Stanley JOHN S GLASS Overwt/In-Line 5 M 61 12 month 04.03.2013
Wells Fargo Securities, LLC BONNIE HERZOG market perform 3 M #N/A N/A Not Provided 28.02.2013
Edward Jones JACK P RUSSO hold 3 M #N/A N/A Not Provided 25.02.2013
Telsey Advisory Group PETER SALEH no rating system #N/A N/A M 64 Not Provided 10.02.2013
Argus Research Corp JOHN D STASZAK buy 5 M 64 Not Provided 29.01.2013
Janney Montgomery Scott LLC MARK D KALINOWSKI buy 5 M 65 12 month 25.01.2013
Buckingham Research Group MITCHELL J SPEISER buy 5 M 62 12 month 25.01.2013
McAdams Wright Ragen Inc DAN GEIMAN hold 3 M 58 12 month 25.01.2013
Cowen and Company PAUL L WESTRA neutral 3 M #N/A N/A Not Provided 25.01.2013
Atlantic Equities LLP ALISTAIR M SCOBIE overweight 5 M 65 12 month 25.01.2013
Barclays JEFFREY A BERNSTEIN equalweight 3 M 56 Not Provided 25.01.2013
RBC Capital Markets LARRY A MILLER sector perform 3 M 63 12 month 24.01.2013
Credit Suisse KEITH SIEGNER outperform 5 M 66 Not Provided 24.01.2013
Credit Agricole Securities (USA) DIANE GEISSLER buy 5 M 69 Not Provided 24.01.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 15.01.2013
Deutsche Bank JASON WEST buy 5 M 60 12 month 04.01.2013
Williams Capital Group MARC RIDDICK market perform 3 M 55 12 month 12.12.2012
S&P Capital IQ JIM YIN buy 5 M 58 Not Provided 14.11.2012
Goldman Sachs MICHAEL KELTER Buy/Neutral 5 M 62 12 month 08.10.2012
Holdings By:
Melrose Industries PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
AMEC PLC provides consulting, engineering and project management services to the
Company offers waste collection, transportation, treatment, and disposal to
customers in the United States, Canada, Mexico, Argentina, Chile, the United
Kingdom and Ireland.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (25.09.2012) 1'174.00
52-Week Low (01.06.2012) 914.00
Daily Volume
1060
52-Week High % Change -9.71% Dividend Yield 3.44
52-Week Low % Change 15.97% Beta 1.15
% 52 Week Price Range High/Low 56.15% Equity Float 294.74
Shares Out 01.03.2013 297.1 Short Int -
3'149.59 1 Yr Total Return -1.93%
Total Debt 176.00 YTD Return 5.68%
Preferred Stock 0.0 Adjusted BETA 1.154
Minority Interest 4.0 Analyst Recs 21
Cash and Equivalents 275.00 Consensus Rating 3.762
Enterprise Value 3'054.59
Average Volume 5 Day 820'299
AMEC LN EQUITY YTD Change - Average Volume 30 Day 1'257'461
AMEC LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'198'552
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
2'606.4 2'539.1 2'951.0 3'261.0 4'158.0 - - 4'243.9 4'520.4 - -
0.35x 0.76x 1.07x 0.78x 0.72x - - 0.71x 0.64x - -
209.8 155.6 238.0 281.0 363.0 - - 367.4 407.4 - -
4.31x 12.45x 13.23x 9.06x 8.25x - - 8.31x 7.50x - -
199.7 171.7 231.0 232.0 216.0 - - 256.2 286.8 - -
7.64x 16.64x 15.75x 14.34x 14.97x - - 12.10x 10.85x - -
EBITDA 363.00 Long-Term Rating Date -
EBIT 308.00 Long-Term Rating -
Operating Margin 7.41% Long-Term Outlook -
Pretax Margin 6.33% Short-Term Rating Date -
Return on Assets 8.69% Short-Term Rating -
Return on Common Equity 17.62%
Return on Capital 16.97% EBITDA/Interest Exp. 45.38
Asset Turnover 1.67% (EBITDA-Capex)/Interest Exp. 43.00
Net Debt/EBITDA -0.27
Gross Margin 12.8% Total Debt/EBITDA 0.48
EBITDA Margin 8.7%
EBIT Margin 7.4% Total Debt/Equity 16.3%
Net Income Margin 5.2% Total Debt/Capital 14.0%
Asset Turnover 1.67
Current Ratio 1.13 Net Fixed Asset Turnover 106.62
Quick Ratio 1.05 Accounts receivable turnover-days 74.78
Debt to Assets 6.99% Inventory Days 0.40
Tot Debt to Common Equity 16.31% Accounts Payable Turnover Day 54.27
Accounts Receivable Turnover 4.89 Cash Conversion Cycle 20.91
Inventory Turnover 906.25
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
AMEC PLCPrice/Volume
Valuation Analysis
222'831.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 8'000'000 9.29 (2'910'000) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 5'094'418 5.92 133'100 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 5'056'747 5.87 199'768 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 4'301'701 5 77'721 25.03.2013 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 3'860'777 4.48 (106'937) 31.12.2012 Investment Advisor
BROWN ADVISORY INC n/a ULT-AGG 3'807'649 4.42 (563'164) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 3'510'378 4.08 137'464 25.03.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 2'223'645 2.58 (1'021'855) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 2'010'215 2.34 579'900 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'340'632 1.56 (7'119) 31.12.2012 Investment Advisor
SCHULER JACK W n/a Form 5 1'284'891 1.49 (419'965) 31.12.2012 n/a
BNP PARIBAS INV PART n/a ULT-AGG 1'188'539 1.38 (265'898) 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 1'088'554 1.26 513'193 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 978'232 1.14 (94'366) 31.12.2012 Investment Advisor
RAINIER INVESTMENT M RAINIER INVESTMENT M 13F 964'000 1.12 (54'400) 31.12.2012 Investment Advisor
MUNDER CAPITAL MANAG MUNDER CAPITAL MANAG 13F 935'357 1.09 (8'350) 31.12.2012 Investment Advisor
IRONBRIDGE CAPITAL M IRONBRIDGE CAPITAL M 13F 920'001 1.07 (227'790) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 892'357 1.04 (13'642) 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 847'832 0.98 93'050 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 825'400 0.96 50'821 31.12.2012 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions SCOTT A SCHNEEBERGER outperform 5 M 115 12 month 25.03.2013
Robert W. Baird & Co DAVID J MANTHEY neutral 3 M 110 12 month 18.03.2013
Wedbush AL KASCHALK outperform 5 M 110 12 month 18.03.2013
Northcoast Research EDWIN SNYDER buy 5 M 110 12 month 18.03.2013
Wellington Shields & Co. LLC ELLIOTT LEO SCHLANG hold 3 M 79 12 month 18.03.2013
William Blair & Co RYAN S DANIELS outperform 5 M #N/A N/A Not Provided 15.03.2013
Goldman Sachs ISAAC RO Buy/Neutral 5 M 115 6 month 13.03.2013
Avondale Partners LLC RICHARD CLOSE market perform 3 M 92 18 month 12.03.2013
Barrington Research KEVIN M STEINKE outperform 5 M 110 12 month 08.02.2013
Barclays GARY E BISBEE equalweight 3 M 103 Not Provided 08.02.2013
Morgan Stanley DAVID R LEWIS Equalwt/In-Line 3 M #N/A N/A Not Provided 07.02.2013
Raymond James WILLIAM H FISHER outperform 5 M 103 12 month 07.02.2013
Stifel SHLOMO H ROSENBAUM buy 5 M 117 12 month 07.02.2013
Wunderlich Securities MICHAEL E HOFFMAN hold 3 M 85 18 month 04.02.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 15.01.2013
S&P Capital IQ STEWART SCHARF buy 5 M 105 Not Provided 08.11.2012
Holdings By:
AMEC PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
John Wood Group PLC is an international energy service company that provides
solutions to help businesses and consumers secure and manage their information.
The Company offers software and services that protect, manage and control
information risks related to security, data protection, storage, compliance and
management.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (19.10.2012) 883.50
52-Week Low (26.06.2012) 649.00
Daily Volume
867
52-Week High % Change -1.81% Dividend Yield 1.30
52-Week Low % Change 33.67% Beta 1.41
% 52 Week Price Range High/Low 88.49% Equity Float 344.94
Shares Out 31.12.2012 373.2 Short Int -
3'235.43 1 Yr Total Return 22.43%
Total Debt 326.80 YTD Return 19.41%
Preferred Stock 0.0 Adjusted BETA 1.411
Minority Interest 8.2 Analyst Recs 17
Cash and Equivalents 172.30 Consensus Rating 3.882
Enterprise Value 5'049.33
Average Volume 5 Day 912'498
WG/ LN EQUITY YTD Change - Average Volume 30 Day 994'310
WG/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'031'258
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
5'243.1 4'927.1 4'085.1 5'666.8 6'821.3 - - 7'299.1 7'684.9 - -
0.33x 0.56x 1.14x 0.65x 0.67x - - 0.67x 0.60x - -
485.1 424.6 284.8 396.0 511.3 - - 589.4 653.2 - -
3.53x 6.46x 16.32x 9.36x 8.93x - - 8.57x 7.73x - -
251.6 163.2 166.0 2'302.3 257.0 - - 347.5 398.5 - -
5.54x 15.52x 58.32x 93.55x 18.06x - - 13.16x 11.67x - -
EBITDA 511.30 Long-Term Rating Date -
EBIT 382.00 Long-Term Rating -
Operating Margin 5.60% Long-Term Outlook -
Pretax Margin 4.93% Short-Term Rating Date -
Return on Assets 6.39% Short-Term Rating -
Return on Common Equity 12.26%
Return on Capital 11.26% EBITDA/Interest Exp. 35.51
Asset Turnover 1.70% (EBITDA-Capex)/Interest Exp. 30.69
Net Debt/EBITDA 0.30
Gross Margin 17.6% Total Debt/EBITDA 0.64
EBITDA Margin 7.5%
EBIT Margin 5.6% Total Debt/Equity 14.7%
Net Income Margin 3.8% Total Debt/Capital 12.8%
Asset Turnover 1.70
Current Ratio 1.52 Net Fixed Asset Turnover 39.14
Quick Ratio 1.04 Accounts receivable turnover-days 62.87
Debt to Assets 7.85% Inventory Days 27.48
Tot Debt to Common Equity 14.67% Accounts Payable Turnover Day 31.33
Accounts Receivable Turnover 5.82 Cash Conversion Cycle 59.02
Inventory Turnover 13.32
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
John Wood Group PLCPrice/Volume
Valuation Analysis
340'360.00
Current Price (3/dd/yy) Market Data
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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK DODGE & COX 13F 58'417'616 8.48 (1'011'900) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 37'276'207 5.41 (4'449'595) 25.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 35'181'951 5.1 3'230'389 26.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 32'536'487 4.72 581'145 31.12.2012 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 31'667'369 4.59 (968'400) 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 26'186'565 3.8 (1'447'720) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 25'051'948 3.63 2'109'501 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 20'962'410 3.04 (499'026) 31.12.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 19'069'170 2.77 (1'292'719) 31.12.2012 Investment Advisor
CITADEL ADVISORS LLC CITADEL ADVISORS LLC 13F 12'558'686 1.82 5'868'240 31.12.2012 Hedge Fund Manager
UBS n/a ULT-AGG 11'901'387 1.73 (150'292) 31.01.2013 Unclassified
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 10'723'533 1.56 (2'297'195) 31.12.2012 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 10'434'459 1.51 (1'237'789) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 8'851'837 1.28 18'506 31.12.2012 Investment Advisor
AJO, LP AJO, LP 13F 8'659'900 1.26 (876'600) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 8'646'838 1.25 (274'113) 31.12.2012 Investment Advisor
SAC CAPITAL ADVISORS SAC CAPITAL ADVISORS 13F 8'206'507 1.19 3'515'139 31.12.2012 Hedge Fund Manager
CAMBIAR INVESTORS LL CAMBIAR INVESTORS LL 13F 7'995'572 1.16 (2'355'921) 31.12.2012 Investment Advisor
THIRD POINT LLC THIRD POINT LLC 13F 6'700'000 0.97 700'000 31.12.2012 Hedge Fund Manager
RS INVESTMENT MANAGE RS INVESTMENT MANAGE 13F 6'523'851 0.95 179'760 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions KEVIN M BUTTIGIEG neutral 3 M #N/A N/A Not Provided 22.03.2013
Oppenheimer & Co SHAUL EYAL market perform 3 D #N/A N/A Not Provided 20.03.2013
RBC Capital Markets ROBERT P BREZA outperform 5 M 30 12 month 18.03.2013
Credit Suisse PHILIP WINSLOW outperform 5 M 28 Not Provided 18.03.2013
Wells Fargo Securities, LLC GRAY W POWELL market perform 3 M #N/A N/A Not Provided 15.03.2013
Morgan Stanley KEITH WEISS Overwt/In-Line 5 M 28 12 month 12.03.2013
Cowen and Company GREGG MOSKOWITZ outperform 5 M #N/A N/A Not Provided 12.03.2013
Cross Research RICHARD T WILLIAMS buy 5 M 23 12 month 12.03.2013
B Riley & Company, Inc DANIEL CUMMINS buy 5 M 27 Not Provided 04.03.2013
Lazard Capital Markets JOEL P FISHBEIN JR neutral 3 M #N/A N/A Not Provided 01.03.2013
Jefferies AARON SCHWARTZ buy 5 M 25 12 month 28.02.2013
JPMorgan JOHN DIFUCCI overweight 5 M 27 9 month 22.02.2013
Raymond James MICHAEL TURITS market perform 3 M #N/A N/A Not Provided 13.02.2013
MKM Partners ISRAEL HERNANDEZ buy 5 M 27 12 month 12.02.2013
William Blair & Co JONATHAN HO outperform 5 M #N/A N/A Not Provided 01.02.2013
JMP Securities PATRICK WALRAVENS market outperform 4 M 26 12 month 01.02.2013
Argus Research Corp JOSEPH F BONNER buy 5 M 27 Not Provided 28.01.2013
Goldman Sachs GREG DUNHAM Sell/Neutral 1 M 17 12 month 24.01.2013
First Analysis Corp CRAIG NANKERVIS equalweight 3 M #N/A N/A Not Provided 24.01.2013
Robert W. Baird & Co STEVEN M ASHLEY neutral 3 M 23 12 month 24.01.2013
Stephens Inc JONATHAN B RUYKHAVER equalweight 3 M 19 12 month 24.01.2013
FBR Capital Markets DANIEL H IVES market perform 3 M 22 12 month 24.01.2013
Macquarie BRAD A ZELNICK outperform 5 M 24 12 month 24.01.2013
Stifel TODD C WELLER hold 3 D #N/A N/A Not Provided 24.01.2013
Wunderlich Securities BRIAN S FREED hold 3 D 22 18 month 24.01.2013
Barclays RAIMO LENSCHOW overweight 5 M 25 Not Provided 24.01.2013
Topeka Capital Markets Inc FREDERICK D ZIEGEL hold 3 M 23 12 month 24.01.2013
Pacific Crest Securities ROB D OWENS sector perform 3 M #N/A N/A Not Provided 23.01.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013
Deutsche Bank THOMAS ERNST JR hold 3 M 17 12 month 14.06.2012
GARP Research BRETT CARSON neutral 3 M #N/A N/A Not Provided 30.01.2009
Holdings By:
John Wood Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Serco Group plc provides outsourcing services to governments, international
and supplies analog technologies, digital signal processing (DSP) and
microcontroller (MCU) semiconductors. The Company also operates materials and
controls, and educational and productivity solutions businesses. Texas
Instruments has manufacturing or sales operations in countries around the world.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (05.03.2013) 650.00
52-Week Low (23.05.2012) 507.50
Daily Volume
622
52-Week High % Change -4.38% Dividend Yield 1.63
52-Week Low % Change 22.46% Beta 0.80
% 52 Week Price Range High/Low 88.77% Equity Float 496.82
Shares Out 05.03.2013 498.6 Short Int -
3'101.11 1 Yr Total Return 14.17%
Total Debt 780.50 YTD Return 17.56%
Preferred Stock 0.0 Adjusted BETA 0.796
Minority Interest 1.3 Analyst Recs 25
Cash and Equivalents 198.60 Consensus Rating 3.560
Enterprise Value 3'684.31
Average Volume 5 Day 956'993
SRP LN EQUITY YTD Change - Average Volume 30 Day 1'204'101
SRP LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'068'451
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
3'123.5 3'970.0 4'326.7 4'646.4 4'913.0 - - 5'172.4 5'462.9 - -
0.87x 0.75x 0.69x 0.64x 0.66x - - 0.70x 0.64x - -
207.7 285.6 326.9 359.9 384.1 - - 395.1 425.0 - -
13.03x 10.37x 9.14x 8.31x 8.46x - - 9.32x 8.67x - -
99.5 130.2 156.7 175.1 245.3 - - 210.1 233.5 - -
21.99x 19.81x 17.42x 13.28x 10.71x - - 14.27x 12.90x - -
EBITDA 384.10 Long-Term Rating Date -
EBIT 287.00 Long-Term Rating -
Operating Margin 5.84% Long-Term Outlook -
Pretax Margin 6.15% Short-Term Rating Date -
Return on Assets 7.63% Short-Term Rating -
Return on Common Equity 23.02%
Return on Capital 15.04% EBITDA/Interest Exp. 7.82
Asset Turnover 1.53% (EBITDA-Capex)/Interest Exp. 6.75
Net Debt/EBITDA 1.51
Gross Margin 15.1% Total Debt/EBITDA 2.03
EBITDA Margin 7.8%
EBIT Margin 5.8% Total Debt/Equity 69.2%
Net Income Margin 5.0% Total Debt/Capital 40.9%
Asset Turnover 1.53
Current Ratio 1.15 Net Fixed Asset Turnover 25.50
Quick Ratio 1.06 Accounts receivable turnover-days 56.88
Debt to Assets 24.04% Inventory Days 5.41
Tot Debt to Common Equity 69.22% Accounts Payable Turnover Day -
Accounts Receivable Turnover 6.43 Cash Conversion Cycle 37.88
Inventory Turnover 67.69
Fiscal Year Ended
Serco Group PLCPrice/Volume
Valuation Analysis
238'749.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESCO LTD n/a ULT-AGG 193'119'021 17.48 14'033'650 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 61'637'232 5.58 - 25.03.2013 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 57'763'753 5.23 (538'050) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 50'232'019 4.55 1'296'171 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 44'358'198 4.02 111'975 26.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 33'495'251 3.03 2'896'053 31.12.2012 Investment Advisor
INSTITUTIONAL CAPITA INSTITUTIONAL CAPITA 13F 26'632'178 2.41 122'698 31.12.2012 Investment Advisor
HARRIS ASSOCIATES LP HARRIS ASSOC LP 13F 26'078'508 2.36 (608'552) 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 21'542'986 1.95 352'635 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 21'461'930 1.94 2'656'532 31.12.2012 Investment Advisor
DAVIS SELECTED ADVIS DAVIS SELECTED ADVIS 13F 15'877'608 1.44 (1'447'465) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 14'896'737 1.35 (1'266'900) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 14'882'074 1.35 (150'090) 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 12'143'612 1.1 2'472'433 31.12.2012 Hedge Fund Manager
BARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 11'142'097 1.01 36'568 31.12.2012 Investment Advisor
MACKAY SHIELDS LLC Multiple Portfolios MF-AGG 9'910'097 0.9 (160'993) 31.01.2013 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 9'524'297 0.86 1'013'978 31.12.2012 Investment Advisor
CLEARBRIDGE INVESTME CLEARBRIDGE INVESTME 13F 8'945'581 0.81 (350'053) 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 7'922'648 0.72 740'405 31.12.2012 Government
GEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 7'538'362 0.68 (817'051) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Peel Hunt JEROME RAMEL underperform 1 M 26 Not Provided 26.03.2013
BMO Capital Markets AMBRISH SRIVASTAVA outperform 5 M 40 Not Provided 25.03.2013
Robert W. Baird & Co TRISTAN GERRA neutral 3 M 31 12 month 25.03.2013
Wells Fargo Securities, LLC DAVID M WONG market perform 3 M #N/A N/A Not Provided 25.03.2013
Needham & Co VERNON P ESSI JR hold 3 M #N/A N/A Not Provided 22.03.2013
MKM Partners DANIEL A BERENBAUM neutral 3 M 29 12 month 22.03.2013
Longbow Research JOANNE FEENEY underperform 1 M 27 12 month 20.03.2013
JPMorgan CHRISTOPHER DANELY overweight 5 M 37 9 month 19.03.2013
Williams Financial Group CODY G ACREE buy 5 M 41 Not Provided 18.03.2013
Tigress Financial Partners IVAN FEINSETH underperform 1 N #N/A N/A Not Provided 18.03.2013
B Riley & Company, Inc CRAIG ELLIS buy 5 M 39 Not Provided 15.03.2013
RBC Capital Markets DOUG FREEDMAN sector perform 3 M 30 12 month 14.03.2013
Sanford C. Bernstein & Co STACY A RASGON market perform 3 D 38 12 month 13.03.2013
Oppenheimer & Co RICHARD SCHAFER market perform 3 M #N/A N/A Not Provided 12.03.2013
Deutsche Bank ROSS C SEYMORE hold 3 M 31 12 month 11.03.2013
ISI Group SUMIT DHANDA buy 5 M 39 12 month 11.03.2013
Morgan Stanley JOSEPH MOORE Equalwt/In-Line 3 M #N/A N/A Not Provided 08.03.2013
Wedbush BETSY VAN HEES outperform 5 M 39 12 month 08.03.2013
FBR Capital Markets CHRISTOPHER ROLLAND underperform 1 M 28 12 month 08.03.2013
Macquarie SHAWN WEBSTER neutral 3 M 37 12 month 08.03.2013
Stifel TORE E SVANBERG buy 5 M 40 12 month 08.03.2013
Evercore Partners PATRICK WANG equalweight 3 M 35 12 month 08.03.2013
Cowen and Company TIMOTHY M ARCURI neutral 3 M #N/A N/A Not Provided 08.03.2013
Gabelli & Co HENDI SUSANTO hold 3 M #N/A N/A Not Provided 08.03.2013
Susquehanna Financial Group CHRISTOPHER CASO neutral 3 M 30 12 month 08.03.2013
Credit Agricole Securities (USA) SRINI PAJJURI underperform 1 M 34 Not Provided 08.03.2013
Barclays BLAYNE CURTIS equalweight 3 M 30 Not Provided 08.03.2013
Goldman Sachs JAMES V COVELLO neutral/attractive 3 M 35 12 month 07.03.2013
Credit Suisse JOHN W PITZER neutral 3 M 35 Not Provided 07.03.2013
SunTrust Robinson Humphrey WILLIAM STEIN reduce 2 M 30 12 month 07.03.2013
Jefferies MARK J LIPACIS buy 5 M 41 12 month 07.03.2013
Pacific Crest Securities MICHAEL MCCONNELL sector perform 3 M #N/A N/A Not Provided 07.03.2013
Raymond James J STEVEN SMIGIE outperform 5 M 39 12 month 07.03.2013
Sterne, Agee & Leach VIJAY R RAKESH underperform 1 M 30 12 month 07.03.2013
Canaccord Genuity Corp ROBERT BURLESON hold 3 M 35 12 month 07.03.2013
Nomura ROMIT SHAH neutral 3 M 28 12 month 07.03.2013
Edward Jones WILLIAM C KREHER hold 3 D #N/A N/A Not Provided 06.03.2013
Argus Research Corp JAMES KELLEHER hold 3 M #N/A N/A Not Provided 25.02.2013
EVA Dimensions ANDREW S ZAMFOTIS sell 1 D #N/A N/A Not Provided 14.02.2013
Drexel Hamilton LLC RICHARD WHITTINGTON hold 3 M 32 12 month 13.02.2013
Daiwa Securities Co. Ltd. YOKO YAMADA neutral 3 U 34 Not Provided 28.01.2013
Davenport & Co F DRAKE JOHNSTONE neutral 3 M #N/A N/A Not Provided 28.01.2013
JMP Securities ALEX GAUNA market outperform 4 M 33 12 month 17.10.2012
Holdings By:
Serco Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
easyJet plc, a low-cost passenger airline, conducts operations throughout the
analytics. The Company offers data, statistical, and actuarial services, as
well as standardized insurance policy programs, underwriting information, and
rating-integrity tools. Verisk Analytics provides data and software information
services to the property, casualty, and mortgage fields in the United States.
Latest Fiscal Year: 09/2012
LTM as of: 12/yy
52-Week High (14.03.2013) 1'086.00
52-Week Low (11.04.2012) 464.60
Daily Volume
1048
52-Week High % Change -3.68% Dividend Yield 2.06
52-Week Low % Change 125.14% Beta 0.91
% 52 Week Price Range High/Low 95.65% Equity Float 249.59
Shares Out 28.02.2013 396.3 Short Int -
4'153.66 1 Yr Total Return 119.01%
Total Debt 957.00 YTD Return 39.65%
Preferred Stock 0.0 Adjusted BETA 0.909
Minority Interest 0.0 Analyst Recs 29
Cash and Equivalents 883.00 Consensus Rating 3.862
Enterprise Value 4'227.66
Average Volume 5 Day 1'276'276
EZJ LN EQUITY YTD Change - Average Volume 30 Day 1'700'715
EZJ LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'613'999
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.09.2008 30.09.2009 30.09.2010 30.09.2011 30.09.2012 12/yy 12/yy 09/13 Y 09/14 Y 03/13 Q2 06/13 Q3
2'362.8 2'666.8 2'973.0 3'452.0 3'854.0 1'331.8 1'534.3 4'139.8 4'410.2 - -
0.46x 0.62x 0.55x 0.40x 0.62x 20.85x 24.44x 0.96x 0.86x - -
138.0 108.9 259.0 359.0 437.0 588.6 695.8 533.0 580.5 - -
7.94x 15.22x 6.30x 3.85x 5.43x 12.74x 14.25x 7.93x 7.28x - -
83.2 71.2 121.0 225.0 255.0 282.8 329.1 317.7 345.0 - -
15.88x 22.47x 13.05x 6.56x 9.29x 24.77x 26.55x 13.44x 12.36x - -
EBITDA 437.00 Long-Term Rating Date -
EBIT 332.00 Long-Term Rating -
Operating Margin 8.61% Long-Term Outlook -
Pretax Margin 8.23% Short-Term Rating Date -
Return on Assets 5.82% Short-Term Rating -
Return on Common Equity 14.58%
Return on Capital 9.56% EBITDA/Interest Exp. 17.48
Asset Turnover 0.87% (EBITDA-Capex)/Interest Exp. 2.32
Net Debt/EBITDA 0.17
Gross Margin - Total Debt/EBITDA 2.19
EBITDA Margin 11.5%
EBIT Margin 8.8% Total Debt/Equity 53.3%
Net Income Margin 6.6% Total Debt/Capital 34.8%
Asset Turnover 0.87
Current Ratio 1.05 Net Fixed Asset Turnover 1.67
Quick Ratio 0.79 Accounts receivable turnover-days 9.70
Debt to Assets 22.28% Inventory Days -
Tot Debt to Common Equity 53.34% Accounts Payable Turnover Day -
Accounts Receivable Turnover 37.75 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
easyJet PLCPrice/Volume
Valuation Analysis
350'843.00
Current Price (3/dd/yy) Market Data
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400.0
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1'600.0
1'800.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
EASYGROUP HOLDINGS L GREATBANC TRUST CO 13F 17'040'371 10.13 (516'368) 31.12.2012 Investment Advisor
GREATBANC TRUST CO n/a Research 17'040'371 10.13 - 31.12.2012 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 14'092'883 8.38 (3'122'010) 31.01.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 6'580'257 3.91 180'700 31.12.2012 Investment Advisor
ARTISAN PARTNERS HOL ARTISAN PARTNERS LP 13F 5'893'700 3.51 740'600 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 5'882'233 3.5 187'418 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 5'842'300 3.47 3'819'375 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 5'494'000 3.27 (491'000) 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 5'069'940 3.02 10'898 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 4'866'200 2.89 110'100 31.12.2012 Investment Advisor
BAMCO INC BAMCO INC 13F 4'642'699 2.76 14'880 31.12.2012 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 4'239'140 2.52 (321'904) 31.12.2012 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 3'653'546 2.17 403'142 31.01.2013 Investment Advisor
INDEPENDENT FRANCHIS INDEPENDENT FRANCHIS 13F 3'308'130 1.97 (106'343) 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 3'205'152 1.91 711'010 31.12.2012 Investment Advisor
GENERAL RE NEW ENGLA GENERAL RE NEW ENGLA 13F 2'994'350 1.78 - 31.12.2012 Insurance Company
STATE STREET n/a ULT-AGG 2'589'266 1.54 129'393 31.12.2012 Investment Advisor
TCW GROUP INC TCW GROUP INCORPORAT 13F 2'382'710 1.42 198'967 31.12.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 2'369'700 1.41 12'000 31.12.2012 Hedge Fund Manager
ALKEON CAPITAL MANAG ALKEON CAPITAL MANAG 13F 2'294'945 1.36 (44'490) 31.12.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse WAYNE JOHNSON outperform 5 M 62 12 month 26.03.2013
William Blair & Co TIMOTHY J MCHUGH outperform 5 M #N/A N/A Not Provided 21.03.2013
Barclays MANAV PATNAIK overweight 5 M 62 Not Provided 11.03.2013
Susquehanna Financial Group JAMES E FRIEDMAN Positive 4 M 63 12 month 08.03.2013
Keefe, Bruyette & Woods WILLIAM CLARK outperform 5 M 63 12 month 07.03.2013
Evercore Partners DAVID M TOGUT equalweight 3 M 59 12 month 07.03.2013
Wells Fargo Securities, LLC ERIC J BOYER outperform 5 M #N/A N/A Not Provided 07.03.2013
Macquarie KEVIN MCVEIGH neutral 3 M 64 12 month 01.03.2013
Morgan Stanley SUZANNE E STEIN Equalwt/In-Line 3 M 55 12 month 28.02.2013
Credit Suisse KELLY A FLYNN outperform 5 M 63 Not Provided 27.02.2013
SunTrust Robinson Humphrey ANDREW W JEFFREY buy 5 M 68 12 month 27.02.2013
JPMorgan ANDREW C STEINERMAN overweight 5 M 65 9 month 27.02.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 15.01.2013
Holdings By:
easyJet PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Admiral Group Plc principally sells private motor insurance, together with
novel, small molecule pharmaceuticals for the treatment of diseases for which
there are currently limited or no effective treatments. The Company is
developing drugs for the treatment of viral diseases, multidrug resistance in
cancer, inflammatory and autoimmune diseases, and neurodegenerative diseases.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (07.03.2013) 1'378.00
52-Week Low (31.05.2012) 1'016.47
Daily Volume
1320
52-Week High % Change -4.21% Dividend Yield 6.86
52-Week Low % Change 29.86% Beta 0.72
% 52 Week Price Range High/Low 85.34% Equity Float 225.95
Shares Out 21.03.2013 273.9 Short Int -
3'615.57 1 Yr Total Return 20.31%
Total Debt 0.80 YTD Return 13.79%
Preferred Stock 0.0 Adjusted BETA 0.722
Minority Interest 3.6 Analyst Recs 23
Cash and Equivalents 216.60 Consensus Rating 2.609
Enterprise Value 3'403.37
Average Volume 5 Day 440'463
ADM LN EQUITY YTD Change - Average Volume 30 Day 480'853
ADM LN EQUITY YTD % CHANGE - Average Volume 3 Month 425'188
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 12/12 Q4 03/13 Q1
422.8 507.5 640.8 870.3 984.3 1'410.6 1'527.0 1'557.3 1'670.5 - -
5.35x 5.83x 5.97x 2.39x 3.01x 25.64x 25.90x 2.03x 1.89x - -
- - - - - 256.7 42.4 - - - -
- - - - - 25.55x 199.38x - - - -
144.9 156.9 193.8 221.2 258.4 29.6 (107.0) 263.9 280.7 - -
16.56x 20.14x 20.94x 10.40x 12.20x 50.32x 135.16x 13.65x 12.92x - -
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating -
Operating Margin 35.01% Long-Term Outlook -
Pretax Margin 35.01% Short-Term Rating Date -
Return on Assets 8.88% Short-Term Rating -
Return on Common Equity 60.73%
Return on Capital 60.32% EBITDA/Interest Exp. -
Asset Turnover 0.34% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.2%
Net Income Margin 26.3% Total Debt/Capital 0.2%
Asset Turnover 0.34
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 0.02% Inventory Days -
Tot Debt to Common Equity 0.18% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Admiral Group PLCPrice/Volume
Valuation Analysis
89'921.00
Current Price (3/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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400.0
600.0
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1'400.0
1'600.0
1'800.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DIRECTOR & RELATED H n/a ULT-AGG 21'497'754 9.85 6'434'175 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 17'766'754 8.14 2'436'793 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 17'027'587 7.8 - 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 10'112'270 4.63 445'927 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 9'925'186 4.55 4'089'468 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 7'855'731 3.6 282'156 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 7'156'935 3.28 134'750 25.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 7'054'536 3.23 (2'039'261) 31.12.2012 Unclassified
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 6'450'390 2.96 673'868 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 6'128'285 2.81 (7'215'596) 31.12.2012 Investment Advisor
CLEARBRIDGE INVESTME CLEARBRIDGE INVESTME 13F 5'312'819 2.43 (41'873) 31.12.2012 Investment Advisor
LAZARD ASSET MANAGEM n/a ULT-AGG 5'015'968 2.3 3'457'379 28.02.2013 Unclassified
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 4'857'111 2.23 891'004 31.12.2012 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 3'738'088 1.71 1'110'564 31.12.2012 Investment Advisor
LOOMIS SAYLES & COMP LOOMIS SAYLES & CO L 13F 3'632'636 1.66 (281'322) 31.12.2012 Investment Advisor
PRUDENTIAL FINANCIAL n/a ULT-AGG 3'478'934 1.59 619'648 31.01.2013 Investment Advisor
SECTORAL ASSET MANAG SECTORAL ASSET MANAG 13F 3'397'168 1.56 (267'942) 31.12.2012 Hedge Fund Manager
WESTFIELD CAPITAL MG WESTFIELD CAPITAL MA 13F 3'097'022 1.42 (57'718) 31.12.2012 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 3'093'350 1.42 1'332'387 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 2'700'464 1.24 (48'444) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Keefe, Bruyette & Woods ANDREW S ZAMFOTIS overweight 5 U #N/A N/A Not Provided 25.03.2013
JPMorgan GEOFFREY MEACHAM overweight 5 M 86 9 month 21.03.2013
JMP Securities LIISA A BAYKO market outperform 4 M 100 12 month 20.03.2013
ISI Group MARK J SCHOENEBAUM buy 5 M 58 12 month 18.03.2013
Sanford C. Bernstein & Co GEOFFREY C PORGES outperform 5 M 66 12 month 11.03.2013
Wells Fargo Securities, LLC BRIAN C ABRAHAMS outperform 5 M #N/A N/A Not Provided 11.03.2013
RBC Capital Markets MICHAEL J YEE outperform 5 M 70 12 month 06.03.2013
S&P Capital IQ STEVEN SILVER buy 5 M 60 Not Provided 05.03.2013
Morgan Stanley DAVID FRIEDMAN Equalwt/In-Line 3 M 45 12 month 04.03.2013
Robert W. Baird & Co BRIAN P SKORNEY outperform 5 M 53 12 month 04.03.2013
William Blair & Co Y KATHERINE XU outperform 5 M 69 12 month 04.03.2013
Maxim Group LLC JASON KOLBERT buy 5 M 60 12 month 04.03.2013
Credit Suisse RAVI MEHROTRA neutral 3 M 48 Not Provided 27.02.2013
Janney Montgomery Scott LLC KIMBERLY LEE buy 5 M 54 12 month 27.02.2013
Needham & Co ALAN CARR buy 5 M 65 12 month 27.02.2013
Leerink Swann & Co HOWARD LIANG outperform 5 M #N/A N/A Not Provided 27.02.2013
Cowen and Company PHILIP NADEAU neutral 3 M #N/A N/A Not Provided 27.02.2013
Piper Jaffray EDWARD A TENTHOFF neutral 3 M 57 12 month 27.02.2013
Summer Street Research Partners CAROL A WERTHER buy 5 M 56 12 month 27.02.2013
Barclays YING HUANG overweight 5 M 68 Not Provided 27.02.2013
Lazard Capital Markets JOSHUA SCHIMMER neutral 3 M #N/A N/A Not Provided 26.02.2013
Argus Research Corp JOHN M EADE hold 3 M #N/A N/A Not Provided 14.02.2013
Goldman Sachs TERENCE FLYNN sell/attractive 1 M 38 12 month 13.12.2012
Deutsche Bank ROBYN KARNAUSKAS buy 5 M 75 12 month 06.12.2012
Holdings By:
Admiral Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Schroders PLC is an international asset management group. The Group manages
acquires programming for television, the Internet, mobile devices, video games,
and other consumer electronics products. Viacom also produces, finances, and
distributes motion pictures to movie theaters and on DVDs, television, digital
and other platforms internationally.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (26.03.2013) 2'261.00
52-Week Low (23.05.2012) 1'163.00
Daily Volume
2082
52-Week High % Change -7.92% Dividend Yield 2.07
52-Week Low % Change 79.02% Beta 1.33
% 52 Week Price Range High/Low 88.07% Equity Float 101.01
Shares Out 04.01.2013 226.0 Short Int -
5'658.91 1 Yr Total Return 31.95%
Total Debt 26.10 YTD Return 25.27%
Preferred Stock 0.0 Adjusted BETA 1.326
Minority Interest 0.0 Analyst Recs 21
Cash and Equivalents 4'562.60 Consensus Rating 3.619
Enterprise Value 1'122.41
Average Volume 5 Day 489'708
SDR LN EQUITY YTD Change - Average Volume 30 Day 408'072
SDR LN EQUITY YTD % CHANGE - Average Volume 3 Month 334'088
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 12/12 Q4 03/13 Q1
1'230.2 1'037.6 1'394.8 1'501.9 1'425.4 - - 1'277.9 1'421.0 276.0 -
- 0.87x 1.25x - - - - 2.27x 1.73x - -
110.2 149.1 395.1 404.9 330.1 - - 420.3 481.5 - -
- 6.05x 4.43x - - - - 2.67x 2.33x - -
76.7 95.4 307.9 315.8 283.2 - - 331.3 378.1 139.0 -
31.27x 38.78x 16.59x 11.33x 16.09x - - 17.29x 15.00x - -
EBITDA 330.10 Long-Term Rating Date 05.12.2002
EBIT 318.10 Long-Term Rating A
Operating Margin 22.32% Long-Term Outlook POS
Pretax Margin 25.26% Short-Term Rating Date 06.12.1994
Return on Assets 1.98% Short-Term Rating A-1
Return on Common Equity 14.26%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.10% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -13.74
Gross Margin 76.9% Total Debt/EBITDA 0.08
EBITDA Margin 23.2%
EBIT Margin 22.3% Total Debt/Equity 1.3%
Net Income Margin 19.9% Total Debt/Capital 1.2%
Asset Turnover 0.10
Current Ratio 1.14 Net Fixed Asset Turnover 91.37
Quick Ratio 0.36 Accounts receivable turnover-days -
Debt to Assets 0.18% Inventory Days -
Tot Debt to Common Equity 1.26% Accounts Payable Turnover Day 18.98
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
Schroders PLCPrice/Volume
Valuation Analysis
174'762.00
Current Price (3/dd/yy) Market Data
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2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
16'000.0
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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FLAVIDA LIMITED n/a ULT-AGG 27'912'240 6.29 2'216'492 25.03.2013 Investment Advisor
INVESCO LTD INVESCO LTD 13F 21'332'067 4.81 (1'023'522) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 20'456'391 4.61 (114'878) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 19'654'657 4.43 488'860 26.03.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 17'653'439 3.98 (4'250'834) 31.12.2012 Investment Advisor
LAZARD ASSET MANAGEM n/a ULT-AGG 14'671'342 3.31 1'311'187 28.02.2013 Unclassified
INSTITUTIONAL CAPITA INSTITUTIONAL CAPITA 13F 12'227'118 2.76 (394'750) 31.12.2012 Investment Advisor
YACKTMAN ASSET MANAG YACKTMAN ASSET MANAG 13F 11'125'914 2.51 (919'049) 31.12.2012 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 8'696'805 1.96 (1'038'400) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 8'451'839 1.9 2'109'419 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 8'369'726 1.89 (410'113) 31.12.2012 Investment Advisor
BERKSHIRE HATHAWAY I n/a ULT-AGG 7'607'200 1.71 - 31.12.2012 Investment Advisor
LONGVIEW PARTNERS (G LONGVIEW PARTNERS (G 13F 7'477'711 1.68 7'477'711 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 7'150'598 1.61 (505'843) 31.12.2012 Investment Advisor
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 6'688'470 1.51 (1'049'307) 31.12.2012 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 6'645'993 1.5 246'859 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 6'259'248 1.41 (103'712) 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 6'201'501 1.4 (58'140) 31.12.2012 Government
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 5'429'025 1.22 (555'990) 31.12.2012 Investment Advisor
UBS n/a ULT-AGG 5'227'927 1.18 125'147 31.01.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Exane BNP Paribas TODD JUENGER underperform 1 M 58 12 month 25.03.2013
Nomura MICHAEL NATHANSON buy 5 M 66 12 month 25.03.2013
Lazard Capital Markets BARTON CROCKETT buy 5 M 71 12 month 24.03.2013
Needham & Co LAURA A MARTIN buy 5 M 63 12 month 15.03.2013
Argus Research Corp JOSEPH F BONNER hold 3 M #N/A N/A Not Provided 11.03.2013
Pivotal Research Group LLC BRIAN WIESER buy 5 M 77 12 month 08.03.2013
Morgan Stanley BENJAMIN SWINBURNE Equalwt/Attractive 3 M 64 12 month 07.03.2013
Edward Jones ROBIN DIEDRICH hold 3 M #N/A N/A Not Provided 04.03.2013
B Riley & Company, Inc DAVID W MILLER buy 5 M 68 Not Provided 04.03.2013
Wells Fargo Securities, LLC MARCI RYVICKER outperform 5 M #N/A N/A Not Provided 04.03.2013
Cowen and Company DOUGLAS CREUTZ outperform 5 M #N/A N/A Not Provided 21.02.2013
Telsey Advisory Group JAISON BLAIR no rating system #N/A N/A M 72 Not Provided 10.02.2013
Wedbush JAMES G DIX neutral 3 D 63 12 month 07.02.2013
Barrington Research JAMES C GOSS market perform 3 M #N/A N/A Not Provided 05.02.2013
Evercore Partners ALAN GOULD equalweight 3 M 62 12 month 05.02.2013
Atlantic Equities LLP HAMILTON FABER neutral 3 M 66 12 month 05.02.2013
Stifel DREW E CRUM buy 5 M 65 12 month 04.02.2013
Deutsche Bank DOUGLAS D MITCHELSON buy 5 M 65 12 month 01.02.2013
Credit Suisse MICHAEL SENNO neutral 3 M 58 Not Provided 01.02.2013
Macquarie TIMOTHY W NOLLEN neutral 3 M 62 12 month 01.02.2013
Wunderlich Securities MATTHEW HARRIGAN hold 3 M 56 12 month 01.02.2013
Gabelli & Co BRETT HARRISS buy 5 M #N/A N/A Not Provided 01.02.2013
Piper Jaffray JAMES M MARSH JR neutral 3 D 58 12 month 01.02.2013
EVA Dimensions CRAIG STERLING overweight 5 D #N/A N/A Not Provided 01.02.2013
RBC Capital Markets DAVID BANK outperform 5 M 64 12 month 31.01.2013
Janney Montgomery Scott LLC TONY WIBLE buy 5 M 65 12 month 31.01.2013
Davenport & Co MICHAEL C MORRIS buy 5 M 67 12 month 31.01.2013
S&P Capital IQ TUNA AMOBI buy 5 M 66 Not Provided 31.01.2013
Maxim Group LLC JOHN TINKER buy 5 M 68 12 month 31.01.2013
Susquehanna Financial Group VASILY KARASYOV Positive 4 M 65 12 month 31.01.2013
Barclays ANTHONY J DICLEMENTE overweight 5 M 68 Not Provided 31.01.2013
JPMorgan ALEXIA S QUADRANI overweight 5 M 66 9 month 29.01.2013
Goldman Sachs DREW BORST buy/attractive 5 U 68 12 month 22.01.2013
BTIG LLC RICHARD GREENFIELD buy 5 M 50 12 month 14.01.2011
Holdings By:
Schroders PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
London Stock Exchange Group plc is the United Kingdom's primary stock exchange.
telephony and fixed line telephony services that offer a variety of
entertainment and communications services to residential and commercial
customers throughout the U.K.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (12.03.2013) 1'431.00
52-Week Low (16.11.2012) 913.50
Daily Volume
1315
52-Week High % Change -8.11% Dividend Yield 2.18
52-Week Low % Change 43.95% Beta 1.19
% 52 Week Price Range High/Low 78.55% Equity Float 173.84
Shares Out 30.09.2012 271.1 Short Int -
3'565.08 1 Yr Total Return 32.84%
Total Debt 757.10 YTD Return 20.86%
Preferred Stock 0.0 Adjusted BETA 1.191
Minority Interest 72.9 Analyst Recs 18
Cash and Equivalents 216.00 Consensus Rating 3.000
Enterprise Value 4'112.28
Average Volume 5 Day 466'683
LSE LN EQUITY YTD Change - Average Volume 30 Day 629'581
LSE LN EQUITY YTD % CHANGE - Average Volume 3 Month 485'334
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 12/yy 12/yy 03/13 Y 03/14 Y 03/13 Q4 06/13 Q1
546.4 671.4 621.8 667.2 806.7 3'991.8 4'100.5 841.3 872.1 209.0 212.0
7.18x 3.14x 3.88x 3.88x 4.24x 10.52x 10.33x 4.81x 4.55x - -
337.4 424.4 347.4 387.6 478.8 1'590.2 1'653.5 470.1 457.7 - -
11.63x 4.96x 6.94x 6.68x 7.14x 5.98x 7.15x 8.75x 8.98x - -
168.3 (338.0) 90.4 151.6 522.0 75.9 2'852.6 265.0 259.3 - -
17.07x - 21.03x 14.75x 5.34x 29.97x 21.76x 13.96x 14.64x - -
EBITDA 478.80 Long-Term Rating Date 13.03.2012
EBIT 383.50 Long-Term Rating A- *-
Operating Margin 47.54% Long-Term Outlook -
Pretax Margin 79.30% Short-Term Rating Date 01.07.2011
Return on Assets 0.40% Short-Term Rating A-2
Return on Common Equity 42.48%
Return on Capital 29.83% EBITDA/Interest Exp. 8.31
Asset Turnover 0.01% (EBITDA-Capex)/Interest Exp. 8.02
Net Debt/EBITDA 0.99
Gross Margin 94.3% Total Debt/EBITDA 1.47
EBITDA Margin 57.6%
EBIT Margin 43.2% Total Debt/Equity 55.0%
Net Income Margin 64.7% Total Debt/Capital 34.3%
Asset Turnover 0.01
Current Ratio 1.00 Net Fixed Asset Turnover 11.87
Quick Ratio 0.00 Accounts receivable turnover-days 36.09
Debt to Assets 0.74% Inventory Days -
Tot Debt to Common Equity 54.99% Accounts Payable Turnover Day -
Accounts Receivable Turnover 10.14 Cash Conversion Cycle -145.09
Inventory Turnover -
Fiscal Year Ended
London Stock Exchange Group PLCPrice/Volume
Valuation Analysis
146'422.00
Current Price (3/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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1'500.0
2'000.0
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3'500.0
4'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BORSE DUBAI LTD n/a ULT-AGG 67'738'315 25.15 (10'701'700) 28.02.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 21'521'125 7.99 (8'373) 31.12.2012 Bank
MANNING & NAPIER ADV MANNING & NAPIER ADV 13F 17'425'463 6.47 (73'760) 31.12.2012 Investment Advisor
COATUE MANAGEMENT LL COATUE MANAGEMENT LL 13F 16'109'508 5.98 - 31.12.2012 Hedge Fund Manager
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 10'948'447 4.06 1'467'296 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 10'865'101 4.03 (1'410'417) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 10'623'866 3.94 (77'084) 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 9'548'492 3.55 (1'495'052) 31.12.2012 Government
SUN LIFE FINANCIAL I n/a ULT-AGG 9'532'507 3.54 (2'911'928) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 7'864'855 2.92 (423'785) 31.12.2012 Investment Advisor
TIMESSQUARE CAPITAL TIMESSQUARE CAPITAL 13F 6'959'260 2.58 (2'051'750) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 6'425'839 2.39 (412'968) 25.03.2013 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 5'616'796 2.09 (649'743) 31.01.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 5'550'366 2.06 (2'507'819) 31.12.2012 Investment Advisor
GREENLIGHT CAPITAL I GREENLIGHT CAPITAL I 13F 4'920'000 1.83 - 31.12.2012 Hedge Fund Manager
STATE STREET n/a ULT-AGG 4'692'969 1.74 53'958 31.12.2012 Investment Advisor
BLUE RIDGE CAPITAL L BLUE RIDGE CAPITAL L 13F 4'600'000 1.71 4'600'000 31.12.2012 Hedge Fund Manager
LANSDOWNE PARTNERS L LANSDOWNE PARTNERS L 13F 4'093'694 1.52 3'629'865 31.12.2012 Hedge Fund Manager
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'924'506 1.46 (1'269'016) 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 3'870'260 1.44 574'260 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets MATTHEW HARRIGAN buy 5 M 55 18 month 26.03.2013
Peel Hunt PATRICK YAU hold 3 M 46 Not Provided 25.03.2013
Sanford C. Bernstein & Co ROBIN BIENENSTOCK market perform 3 M 45 12 month 13.03.2013
Exane BNP Paribas MICHAEL WILLIAMS outperform 5 M 49 Not Provided 08.03.2013
Berenberg Bank STUART GORDON hold 3 M 47 Not Provided 06.03.2013
Evercore Partners BRYAN KRAFT equalweight 3 D 47 12 month 12.02.2013
Deutsche Bank DAVID A WRIGHT hold 3 D 50 12 month 07.02.2013
Macquarie GUY R PEDDY neutral 3 D 46 12 month 07.02.2013
Espirito Santo Investment Bank ResearchANDREW HOGLEY neutral 3 D 46 Not Provided 07.02.2013
New Street Research FRANK KNOWLES Under Review #N/A N/A M #N/A N/A Not Provided 07.02.2013
Barclays MICHAEL BISHOP overweight 5 M 48 Not Provided 07.02.2013
EVA Dimensions CRAIG STERLING underweight 1 U #N/A N/A Not Provided 07.02.2013
Morgan Stanley NICK DELFAS Underwt/In-Line 1 M 31 12 month 06.02.2013
Jefferies JEREMY A DELLIS hold 3 M 33 12 month 06.02.2013
Nomura HENRIK NYBLOM buy 5 M 40 12 month 06.02.2013
Goldman Sachs TIMOTHY BODDY not rated #N/A N/A M #N/A N/A Not Provided 05.02.2013
JPMorgan CARL MURDOCK-SMITH restricted #N/A N/A M #N/A N/A Not Provided 05.02.2013
Credit Suisse PAUL SIDNEY restricted #N/A N/A M #N/A N/A Not Provided 24.01.2013
HSBC ADAM M RUMLEY overweight 5 M 43 Not Provided 12.11.2012
Raymond James STEPHANE BEYAZIAN market perform 3 M #N/A N/A Not Provided 04.09.2012
Holdings By:
London Stock Exchange Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Fresnillo plc is a silver and gold mining and exploration company. The Company
including voice and data communications. Vodafone has equity interests in 28
countries and Partner Networks in a further 7 countries with almost all the
Group's mobile subsidiaries operating principally under the brand name Vodafone.
In the United States their associated undertaking operates as Verizon Wireless.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (27.11.2012) 2'033.00
52-Week Low (01.06.2012) 1'259.00
Daily Volume
1373
52-Week High % Change -32.46% Dividend Yield 2.79
52-Week Low % Change 9.05% Beta 0.74
% 52 Week Price Range High/Low 18.09% Equity Float 164.22
Shares Out 31.12.2012 717.2 Short Int -
9'846.61 1 Yr Total Return -16.36%
Total Debt 0.00 YTD Return -25.66%
Preferred Stock 0.0 Adjusted BETA 0.743
Minority Interest 368.6 Analyst Recs 15
Cash and Equivalents 613.77 Consensus Rating 2.867
Enterprise Value 14'625.68
Average Volume 5 Day 678'225
FRES LN EQUITY YTD Change - Average Volume 30 Day 855'994
FRES LN EQUITY YTD % CHANGE - Average Volume 3 Month 699'020
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y - -
720.5 849.9 1'409.6 2'192.7 2'157.4 - - 2'411.3 2'742.4 - -
3.17x 10.57x 12.98x 7.56x 9.86x - - 6.13x 5.32x - -
335.5 496.0 938.7 1'535.8 1'300.7 - - 1'513.5 1'774.9 - -
6.80x 18.12x 19.49x 10.80x 16.35x - - 9.66x 8.24x - -
127.9 322.0 665.1 901.7 736.1 - - 788.4 938.7 - -
18.02x 28.48x 28.04x 18.83x 29.23x - - 19.16x 16.34x - -
EBITDA 1'300.69 Long-Term Rating Date -
EBIT 1'046.80 Long-Term Rating -
Operating Margin 48.52% Long-Term Outlook -
Pretax Margin 53.97% Short-Term Rating Date -
Return on Assets 24.01% Short-Term Rating -
Return on Common Equity 35.90%
Return on Capital 35.71% EBITDA/Interest Exp. 331.64
Asset Turnover 0.70% (EBITDA-Capex)/Interest Exp. 199.05
Net Debt/EBITDA -0.47
Gross Margin 62.6% Total Debt/EBITDA 0.00
EBITDA Margin 60.3%
EBIT Margin 48.5% Total Debt/Equity 0.0%
Net Income Margin 34.1% Total Debt/Capital 0.0%
Asset Turnover 0.70
Current Ratio 6.49 Net Fixed Asset Turnover 1.61
Quick Ratio 3.46 Accounts receivable turnover-days 30.53
Debt to Assets 0.00% Inventory Days 67.57
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 11.99 Cash Conversion Cycle 45.59
Inventory Turnover 5.42
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
Fresnillo PLCPrice/Volume
Valuation Analysis
110'393.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PENOLES n/a ULT-AGG 45'364'547 0.93 1'801'302 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 30'692'969 0.63 (893'927) 31.12.2012 Investment Advisor
INSTITUTIONAL CAPITA INSTITUTIONAL CAPITA 13F 29'093'934 0.59 (1'007'886) 31.12.2012 Investment Advisor
DODGE & COX DODGE & COX 13F 24'142'133 0.49 (816'942) 31.12.2012 Investment Advisor
BARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 22'026'860 0.45 (229'054) 31.12.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 18'034'949 0.37 (46'157) 31.12.2012 Investment Advisor
HOTCHKIS & WILEY CAP HOTCHKIS AND WILEY 13F 16'309'108 0.33 678'457 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 15'551'430 0.32 3'409'811 25.03.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 15'077'867 0.31 999'300 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 12'781'495 0.26 (652'843) 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 11'472'680 0.23 (705'862) 31.12.2012 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 10'689'113 0.22 (2'337'983) 31.12.2012 Investment Advisor
MACKAY SHIELDS LLC Multiple Portfolios MF-AGG 9'732'151 0.2 345'250 31.01.2013 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 9'574'678 0.2 - 31.12.2012 Insurance Company
LETKO BROSSEAU & ASS LETKO BROSSEAU & ASS 13F 9'441'183 0.19 (360'362) 31.12.2012 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 9'168'053 0.19 66'747 31.12.2012 Investment Advisor
UBS n/a ULT-AGG 8'083'610 0.17 328'670 31.12.2012 Unclassified
STATE FARM MUTUAL AU STATE FARM MUTUAL AU Sch-D 7'608'755 0.16 - 30.09.2012 Insurance Company
MANAGED ACCOUNT ADVI MANAGED ACCOUNT ADVI 13F 7'016'978 0.14 (1'620'266) 31.12.2012 Investment Advisor
FISHER INVESTMENTS I FISHER INVESTMENTS 13F 7'012'239 0.14 (2'793'264) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets TIMOTHY BODDY Buy/Neutral 5 M 33 12 month 26.03.2013
Sanford C. Bernstein & Co ROBIN BIENENSTOCK underperform 1 M 21 12 month 14.03.2013
Edward Jones DAVID HEGER buy 5 M #N/A N/A Not Provided 13.03.2013
Robert W. Baird & Co WILLIAM V POWER outperform 5 M 30 12 month 13.03.2013
Davenport & Co F DRAKE JOHNSTONE neutral 3 M #N/A N/A Not Provided 07.02.2013
EVA Dimensions TEAM COVERAGE dropped coverage #N/A N/A M #N/A N/A Not Provided 18.01.2013
Holdings By:
Fresnillo PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Hargreaves Lansdown PLC provides investment management and financial planning
collection, storage, management, protection and use of digital content,
including audio and video. The Company's products include hard drives,
solid-state drives, and home entertainment and networking products.
Latest Fiscal Year: 06/2012
LTM as of: 12/yy
52-Week High (15.03.2013) 929.50
52-Week Low (11.04.2012) 439.77
Daily Volume
857
52-Week High % Change -7.80% Dividend Yield 1.98
52-Week Low % Change 94.87% Beta 1.34
% 52 Week Price Range High/Low 87.54% Equity Float 206.66
Shares Out 31.12.2012 474.3 Short Int -
4'064.91 1 Yr Total Return 81.69%
Total Debt 0.00 YTD Return 26.73%
Preferred Stock 0.0 Adjusted BETA 1.337
Minority Interest 0.4 Analyst Recs 12
Cash and Equivalents 159.95 Consensus Rating 3.083
Enterprise Value 3'916.17
Average Volume 5 Day 743'769
HL/ LN EQUITY YTD Change - Average Volume 30 Day 664'890
HL/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 715'888
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 12/yy 12/yy 06/13 Y 06/14 Y 03/13 Q3 06/13 Q4
120.3 132.8 159.0 207.9 238.7 9'344.0 15'648.0 288.8 329.0 - -
5.26x 6.63x 9.63x 13.26x 9.85x 1.87x 2.11x 13.46x 11.65x - -
59.0 71.6 87.8 126.8 153.0 1'549.0 3'716.0 204.2 234.2 - -
10.72x 12.32x 17.44x 21.75x 15.37x 2.31x 2.23x 19.18x 16.72x - -
42.4 52.1 61.3 91.8 113.0 688.0 2'082.0 141.0 164.4 - -
16.20x 9.16x 25.66x 30.65x 21.90x 7.64x 4.51x 27.82x 23.94x - -
EBITDA 153.03 Long-Term Rating Date -
EBIT 150.61 Long-Term Rating -
Operating Margin 63.09% Long-Term Outlook -
Pretax Margin 64.02% Short-Term Rating Date -
Return on Assets 47.03% Short-Term Rating -
Return on Common Equity 100.15%
Return on Capital 100.23% EBITDA/Interest Exp. -
Asset Turnover 0.96% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -0.86
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin 65.4%
EBIT Margin 64.5% Total Debt/Equity 0.0%
Net Income Margin 47.3% Total Debt/Capital 0.0%
Asset Turnover 0.96
Current Ratio 1.95 Net Fixed Asset Turnover 44.60
Quick Ratio 1.71 Accounts receivable turnover-days 136.80
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 2.68 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
Hargreaves Lansdown PLCPrice/Volume
Valuation Analysis
123'069.00
Current Price (3/dd/yy) Market Data
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6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DIRECTOR & RELATED H n/a ULT-AGG 25'000'000 10.39 - 17.09.2012 Corporation
VANGUARD GROUP INC VANGUARD GROUP INC 13F 14'363'112 5.97 (303'477) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 11'722'308 4.87 (3'211'794) 25.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 9'062'161 3.77 (764'673) 25.03.2013 Investment Advisor
ALKEN ASSET MANAGEME ALKEN ASSET MANAGEME 13F 8'852'610 3.68 1'070'249 31.12.2012 Investment Advisor
FIRST PACIFIC ADVISO FIRST PACIFIC ADVISO 13F 6'662'900 2.77 (1'393'600) 31.12.2012 Investment Advisor
CORNERSTONE INVESTME CORNERSTONE INVESTME 13F 6'319'955 2.63 1'584'764 31.12.2012 Investment Advisor
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 5'689'830 2.36 (278'610) 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 5'407'491 2.25 848'713 31.12.2012 Investment Advisor
BRANDES INVESTMENT P BRANDES INVESTMENT P 13F 4'620'895 1.92 (499'946) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 3'772'247 1.57 2'334'512 31.12.2012 Investment Advisor
APG ALL PENSIONS GRO APG ALL PENSIONS GRO 13F 3'448'194 1.43 101'212 31.12.2012 Investment Advisor
HERNDON CAPITAL MANA HERNDON CAPITAL MANA 13F 3'125'852 1.3 188'163 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'090'511 1.28 (56'703) 31.12.2012 Investment Advisor
COMMONWEALTH BANK OF COMMONWEALTH BANK OF 13F 3'063'188 1.27 3'003'257 31.12.2012 Bank
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 3'019'274 1.25 525'076 31.12.2012 Investment Advisor
BRANDYWINE GLOBAL IN BRANDYWINE GLOBAL IN 13F 2'968'439 1.23 1'265'072 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 2'865'152 1.19 1'173'309 31.12.2012 Government
FMR LLC n/a ULT-AGG 2'743'512 1.14 1'071'930 31.12.2012 Investment Advisor
AQR CAPITAL MANAGEME AQR CAPITAL MANAGEME 13F 2'526'308 1.05 641'724 31.12.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Canaccord Genuity Corp AMIT DARYANANI outperform 5 N 55 12 month 26.03.2013
Brean Murray Carret & Co ANANDA BARUAH buy 5 M 54 12 month 26.03.2013
Longbow Research JOE WITTINE neutral 3 M #N/A N/A Not Provided 20.03.2013
Wells Fargo Securities, LLC MAYNARD UM market perform 3 M #N/A N/A Not Provided 15.03.2013
Tigress Financial Partners IVAN FEINSETH buy 5 N #N/A N/A Not Provided 15.03.2013
BMO Capital Markets KEITH F BACHMAN market perform 3 M 45 Not Provided 14.03.2013
Daiwa Securities Co. Ltd. YOKO YAMADA neutral 3 M 51 Not Provided 13.03.2013
Lazard Capital Markets EDWARD PARKER buy 5 M 54 12 month 12.03.2013
Cross Research STEVEN B FOX hold 3 M 49 12 month 12.03.2013
Pacific Crest Securities MONIKA GARG sector perform 3 M #N/A N/A Not Provided 06.03.2013
Argus Research Corp JAMES KELLEHER hold 3 M #N/A N/A Not Provided 30.01.2013
Credit Agricole Securities (USA) AVI SILVER underperform 1 M 47 Not Provided 29.01.2013
Deutsche Bank SHERRI SCRIBNER buy 5 M 60 12 month 24.01.2013
Morgan Stanley KATHRYN HUBERTY Equalwt/In-Line 3 M #N/A N/A Not Provided 24.01.2013
Goldman Sachs WILLIAM C SHOPE JR neutral/neutral 3 M 40 6 month 24.01.2013
JPMorgan MARK A MOSKOWITZ neutral 3 M 40 9 month 24.01.2013
Needham & Co RICHARD J KUGELE strong buy 5 M 52 12 month 24.01.2013
Robert W. Baird & Co JAYSON NOLAND SR neutral 3 M 50 12 month 24.01.2013
Stifel AARON C RAKERS buy 5 M 55 12 month 24.01.2013
Noble Financial Group MARK S MILLER buy 5 M 52 12 month 24.01.2013
Craig-Hallum Capital Group LLC CHRISTIAN SCHWAB buy 5 M 54 12 month 24.01.2013
Barclays BENJAMIN A REITZES equalweight 3 M 45 Not Provided 24.01.2013
FBN Securities SHEBLY SEYRAFI sector perform 3 M 50 12 month 24.01.2013
Evercore Partners ROBERT CIHRA overweight 5 M 55 12 month 23.01.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013
Wedge Partners KIRK ADAMS no rating system #N/A N/A M #N/A N/A Not Provided 14.01.2013
S&P Capital IQ JIM YIN sell 1 M 27 Not Provided 30.11.2012
Holdings By:
Hargreaves Lansdown PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Polymetal International PLC is a holding company. The Company's subsidiary
in the United States. The Company's stores provides full range of merchandise,
featuring products that are free of artificial flavors, sweeteners, colors,
preservatives, and added chemicals. Whole Foods also develops, produces, and
markets nutriceuticals and nutritional supplements.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (02.01.2013) 1'231.00
52-Week Low (09.05.2012) 726.71
Daily Volume
861.5
52-Week High % Change -30.02% Dividend Yield 1.54
52-Week Low % Change 18.55% Beta -
% 52 Week Price Range High/Low 30.59% Equity Float 160.37
Shares Out 31.01.2013 384.0 Short Int -
3'308.00 1 Yr Total Return -4.03%
Total Debt 1'003.10 YTD Return -26.68%
Preferred Stock 0.0 Adjusted BETA -
Minority Interest 148.5 Analyst Recs 26
Cash and Equivalents 658.80 Consensus Rating 4.000
Enterprise Value 6'009.32
Average Volume 5 Day 825'115
POLY LN EQUITY YTD Change - Average Volume 30 Day 790'402
POLY LN EQUITY YTD % CHANGE - Average Volume 3 Month 596'059
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 - -
- - - 925.4 1'326.4 - - 1'846.6 2'156.2 - -
- - - - 5.27x - - 3.24x 2.68x - -
- - - 406.3 555.6 - - 889.3 1'065.8 - -
- - - - 12.57x - - 6.77x 5.65x - -
- - - 239.0 289.3 - - 502.4 645.4 - -
- - - - 21.52x - - 9.82x 7.73x - -
EBITDA 555.58 Long-Term Rating Date -
EBIT 458.93 Long-Term Rating -
Operating Margin 34.60% Long-Term Outlook -
Pretax Margin 30.82% Short-Term Rating Date -
Return on Assets 9.53% Short-Term Rating -
Return on Common Equity 19.12%
Return on Capital 12.98% EBITDA/Interest Exp. 19.33
Asset Turnover 0.44% (EBITDA-Capex)/Interest Exp. 3.27
Net Debt/EBITDA 0.62
Gross Margin 52.8% Total Debt/EBITDA 1.81
EBITDA Margin 41.9%
EBIT Margin 34.6% Total Debt/Equity 60.2%
Net Income Margin 21.8% Total Debt/Capital 35.6%
Asset Turnover 0.44
Current Ratio 1.47 Net Fixed Asset Turnover 0.75
Quick Ratio 0.71 Accounts receivable turnover-days 15.80
Debt to Assets 27.47% Inventory Days 286.33
Tot Debt to Common Equity 60.21% Accounts Payable Turnover Day 24.20
Accounts Receivable Turnover 23.11 Cash Conversion Cycle 277.92
Inventory Turnover 1.27
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
Polymetal International PLCPrice/Volume
Valuation Analysis
419'466.00
Current Price (3/dd/yy) Market Data
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27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PEARLMOON BAILLIE GIFFORD & CO 13F 11'110'126 5.99 (59'264) 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 9'822'593 5.3 86'880 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 9'819'236 5.3 (64'386) 25.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 9'695'592 5.23 2'547'726 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 7'717'483 4.16 225'139 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 7'096'216 3.83 56'020 25.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 6'551'626 3.54 (961'753) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 4'417'783 2.38 285'109 31.12.2012 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 4'158'633 2.24 381'633 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 3'689'977 1.99 439'586 31.12.2012 Unclassified
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'094'554 1.67 (858'303) 31.12.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 2'868'018 1.55 (289'568) 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 2'822'000 1.52 (406'600) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 2'699'598 1.46 (144'121) 31.12.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 2'100'974 1.13 35'900 31.12.2012 Hedge Fund Manager
NORGES BANK NORGES BANK 13F 2'040'189 1.1 1'287'030 31.12.2012 Government
ING INVESTMENT MANAG ING INVESTMENT MANAG 13F 1'941'788 1.05 582'564 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 1'557'922 0.84 14'611 31.12.2012 Investment Advisor
WADDELL & REED FINAN WADDELL & REED FINAN 13F 1'540'444 0.83 (153'770) 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 1'526'265 0.82 96'533 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Canaccord Genuity Corp SEAN NAUGHTON neutral 3 D 89 12 month 25.03.2013
Northcoast Research CHARLES E CERANKOSKY buy 5 M 112 12 month 25.03.2013
Morgan Stanley MARK WILTAMUTH Overwt/In-Line 5 M 110 12 month 20.03.2013
Raymond James BENJAMIN BROWNLOW market perform 3 N #N/A N/A Not Provided 19.03.2013
Longbow Research PHILIP TERPOLILLI neutral 3 M #N/A N/A Not Provided 19.03.2013
SunTrust Robinson Humphrey DAVID G MAGEE buy 5 M 105 12 month 18.03.2013
Edward Jones BRIAN YARBROUGH buy 5 U #N/A N/A Not Provided 12.03.2013
Susquehanna Financial Group ROBERT SUMMERS Positive 4 M 110 12 month 06.03.2013
Tigress Financial Partners IVAN FEINSETH buy 5 N #N/A N/A Not Provided 20.02.2013
BMO Capital Markets KAREN SHORT outperform 5 M 105 Not Provided 19.02.2013
Cantor Fitzgerald AJAY JAIN buy 5 M 104 12 month 19.02.2013
CL King & Associates ERIC J LARSON neutral 3 M 88 12 month 19.02.2013
Goldman Sachs STEPHEN GRAMBLING Buy/Neutral 5 M 103 12 month 18.02.2013
Deutsche Bank SHANE HIGGINS buy 5 M 100 12 month 15.02.2013
Argus Research Corp CHRISTOPHER GRAJA hold 3 M #N/A N/A Not Provided 15.02.2013
RBC Capital Markets EDWARD AARON outperform 5 M 100 12 month 14.02.2013
JPMorgan KENNETH GOLDMAN overweight 5 M 103 9 month 14.02.2013
William Blair & Co MARK R MILLER outperform 5 M #N/A N/A Not Provided 14.02.2013
Canaccord Genuity Corp SCOTT VAN WINKLE buy 5 M 112 12 month 14.02.2013
BB&T Capital Markets ANDREW P WOLF hold 3 M #N/A N/A Not Provided 14.02.2013
Guggenheim Securities LLC JOHN HEINBOCKEL neutral 3 M 105 12 month 14.02.2013
Cowen and Company PAUL L WESTRA outperform 5 M #N/A N/A Not Provided 14.02.2013
Barclays MEREDITH ADLER equalweight 3 M 88 Not Provided 14.02.2013
Telsey Advisory Group JOSEPH I FELDMAN no rating system #N/A N/A M 105 12 month 14.02.2013
Credit Suisse EDWARD J KELLY neutral 3 M 90 Not Provided 13.02.2013
Williams Capital Group MARC RIDDICK market perform 3 M 99 12 month 13.02.2013
Wells Fargo Securities, LLC KATE WENDT outperform 5 M #N/A N/A Not Provided 13.02.2013
EVA Dimensions AUSTIN BURKETT underweight 1 M #N/A N/A Not Provided 15.01.2013
S&P Capital IQ JOSEPH AGNESE hold 3 D 99 12 month 08.11.2012
Gabelli & Co JUSTYN PUTNAM buy 5 N #N/A N/A Not Provided 28.11.2008
Holdings By:
Polymetal International PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Tui Travel PLC operates as an international leisure travel group in the
resorts in Las Vegas, Nevada and in Macau, China. The Resorts feature guest
rooms and suites, restaurants, a golf course, and an on-site luxury automotive
dealership.
Latest Fiscal Year: 09/2012
LTM as of: 12/yy
52-Week High (20.02.2013) 334.60
52-Week Low (14.06.2012) 156.50
Daily Volume
319.4
52-Week High % Change -4.54% Dividend Yield 3.66
52-Week Low % Change 104.09% Beta 1.20
% 52 Week Price Range High/Low 86.41% Equity Float 409.47
Shares Out 17.01.2013 1'118.0 Short Int -
3'570.93 1 Yr Total Return 70.95%
Total Debt 938.00 YTD Return 16.08%
Preferred Stock 0.0 Adjusted BETA 1.203
Minority Interest 44.0 Analyst Recs 24
Cash and Equivalents 849.00 Consensus Rating 3.417
Enterprise Value 3'703.93
Average Volume 5 Day 2'073'535
TT/ LN EQUITY YTD Change - Average Volume 30 Day 2'771'696
TT/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'959'587
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.09.2008 30.09.2009 30.09.2010 30.09.2011 30.09.2012 12/yy 12/yy 09/13 Y 09/14 Y 03/13 Q2 06/13 Q3
13'931.8 13'851.0 13'514.0 14'687.0 14'460.0 5'269.8 5'154.3 14'861.3 15'226.2 - -
0.18x 0.23x 0.20x 0.12x 0.19x 13.17x 12.59x 0.24x 0.22x - -
837.4 644.0 649.0 685.0 709.0 1'536.9 1'442.5 732.1 773.9 - -
3.01x 4.89x 4.07x 2.47x 3.88x 10.36x 10.95x 5.06x 4.79x - -
(270.7) (67.0) (123.0) 85.0 138.0 613.4 502.0 323.8 356.7 - -
- - - 19.44x 18.80x 19.02x 21.35x 11.53x 10.54x - -
EBITDA 709.00 Long-Term Rating Date -
EBIT 490.00 Long-Term Rating -
Operating Margin 3.39% Long-Term Outlook -
Pretax Margin 1.39% Short-Term Rating Date -
Return on Assets 1.56% Short-Term Rating -
Return on Common Equity 7.99%
Return on Capital 10.05% EBITDA/Interest Exp. 3.62
Asset Turnover 1.64% (EBITDA-Capex)/Interest Exp. 2.15
Net Debt/EBITDA 0.13
Gross Margin 10.3% Total Debt/EBITDA 1.32
EBITDA Margin 4.9%
EBIT Margin 3.4% Total Debt/Equity 59.9%
Net Income Margin 1.0% Total Debt/Capital 36.8%
Asset Turnover 1.64
Current Ratio 0.42 Net Fixed Asset Turnover 13.79
Quick Ratio 0.27 Accounts receivable turnover-days 12.77
Debt to Assets 10.88% Inventory Days 1.83
Tot Debt to Common Equity 59.94% Accounts Payable Turnover Day 81.79
Accounts Receivable Turnover 28.66 Cash Conversion Cycle -67.19
Inventory Turnover 199.46
Fiscal Year Ended
TUI Travel PLCPrice/Volume
Valuation Analysis
3'902'378.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TUI AG WADDELL & REED FINAN 13F 15'039'402 14.9 434'885 31.12.2012 Investment Advisor
WYNN STEPHEN A n/a PROXY 10'026'708 9.94 - 13.12.2012 n/a
WYNN ELAINE P n/a Form 4 9'659'355 9.57 (82'795) 04.02.2013 n/a
MARSICO CAPITAL MANA MARSICO CAPITAL MANA 13F 5'410'939 5.36 515'471 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 4'603'200 4.56 2'386'800 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 4'181'036 4.14 155'885 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 3'561'098 3.53 128'934 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 3'115'910 3.09 141'999 26.03.2013 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 3'044'202 3.02 582'867 31.12.2012 Investment Advisor
LATEEF INVESTMENT MA LATEEF INVESTMENT MA 13F 2'552'192 2.53 63'898 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 1'781'415 1.77 55'727 31.12.2012 Investment Advisor
COLUMBIA MANAGEMENT Multiple Portfolios MF-AGG 1'469'017 1.46 - 31.01.2013 Investment Advisor
THORNBURG INVESTMENT THORNBURG INVESTMENT 13F 1'374'520 1.36 179'320 31.12.2012 Investment Advisor
PACIFIC HEIGHTS ASSE PACIFIC HEIGHTS ASSE 13F 1'208'000 1.2 - 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 1'007'868 1 678'903 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 994'084 0.99 (12'807) 31.12.2012 Investment Advisor
SOROBAN CAPITAL PART SOROBAN CAPITAL PART 13F 990'000 0.98 990'000 31.12.2012 Hedge Fund Manager
BAMCO INC BAMCO INC 13F 921'613 0.91 (87'840) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 798'333 0.79 17'786 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 794'161 0.79 107'904 31.12.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura JOHN KEMPF outperform 5 M 133 12 month 26.03.2013
Susquehanna Financial Group RACHAEL ROTHMAN Positive 4 M 146 12 month 26.03.2013
Cantor Fitzgerald ROBERT A LAFLEUR buy 5 M 151 12 month 25.03.2013
Lazard Capital Markets JAKE FULLER buy 5 M 145 12 month 25.03.2013
ISI Group IAN WEISSMAN buy 5 M 144 12 month 24.03.2013
Wells Fargo Securities, LLC CAMERON MCKNIGHT outperform 5 M #N/A N/A Not Provided 21.03.2013
Stifel STEVEN M WIECZYNSKI hold 3 M #N/A N/A Not Provided 12.03.2013
Compass Point Research & Trading LLC MICHAEL TURNER neutral 3 M 119 12 month 04.03.2013
JPMorgan JOSEPH R GREFF overweight 5 M 148 9 month 01.03.2013
Janney Montgomery Scott LLC BRIAN MCGILL buy 5 M 175 12 month 19.02.2013
Telsey Advisory Group CHRISTOPHER E JONES no rating system #N/A N/A M 131 Not Provided 10.02.2013
Morgan Stanley THOMAS ALLEN Equalwt/In-Line 3 M 127 12 month 04.02.2013
Deutsche Bank CARLO SANTARELLI buy 5 M 146 12 month 01.02.2013
Macquarie CHAD BEYNON neutral 3 M 119 12 month 01.02.2013
Sterne, Agee & Leach DAVID BAIN neutral 3 M 120 12 month 01.02.2013
Nomura HARRY C CURTIS buy 5 M 141 12 month 01.02.2013
S&P Capital IQ ESTHER KWON buy 5 M 140 Not Provided 01.02.2013
Gabelli & Co AMIT KAPOOR buy 5 M #N/A N/A Not Provided 01.02.2013
Craig-Hallum Capital Group LLC BRYAN MAHER buy 5 M 150 12 month 01.02.2013
Atlantic Equities LLP ALISTAIR M SCOBIE neutral 3 M 130 12 month 01.02.2013
Credit Agricole Securities (USA) JON OH outperform 5 M 132 Not Provided 01.02.2013
Barclays FELICIA R KANTOR HENDRIX overweight 5 M 139 Not Provided 01.02.2013
Credit Suisse JOEL H SIMKINS outperform 5 M 144 Not Provided 31.01.2013
Union Gaming Research BILL LERNER buy 5 U 150 12 month 31.01.2013
Goldman Sachs STEVEN KENT Buy/Neutral 5 M 159 12 month 17.01.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 15.01.2013
Imperial Capital LLC GREGG M KLEIN outperform 5 M 145 12 month 07.01.2013
Phillip Securities MAGDALENE CHOONG neutral 3 N #N/A N/A Not Provided 18.07.2012
Holdings By:
TUI Travel PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Vedanta Resources Plc mines and processes metals. The Company mines copper,
solutions. The Company's solutions include advanced integrated circuits,
software design tools, predefined system functions delivered as cores of logic,
and field engineering support. Xilinx sells its products through several
channels of distribution to customers in the United States and overseas.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (27.03.2012) 1'345.00
52-Week Low (26.07.2012) 821.00
Daily Volume
1026
52-Week High % Change -23.72% Dividend Yield 3.61
52-Week Low % Change 24.97% Beta 1.91
% 52 Week Price Range High/Low 43.89% Equity Float 81.61
Shares Out 28.02.2013 266.4 Short Int -
2'733.57 1 Yr Total Return -18.41%
Total Debt 16'955.40 YTD Return -11.32%
Preferred Stock 0.0 Adjusted BETA 1.911
Minority Interest 13'768.9 Analyst Recs 13
Cash and Equivalents 6'885.30 Consensus Rating 3.231
Enterprise Value 28'215.48
Average Volume 5 Day 743'908
VED LN EQUITY YTD Change - Average Volume 30 Day 744'068
VED LN EQUITY YTD % CHANGE - Average Volume 3 Month 747'758
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 12/yy 12/yy 03/13 Y 03/14 Y 03/13 Q4 06/13 Q1
8'203.7 6'578.9 7'930.5 11'427.2 14'005.3 2'269.6 2'195.5 14'718.4 17'147.6 3'601.0 3'879.0
1.86x 1.13x 2.54x 1.87x 2.12x 13.27x 15.02x 1.87x 1.55x 3.80x -
3'003.9 1'856.1 2'035.7 3'490.6 4'465.0 740.1 670.8 4'907.8 5'816.2 1'181.0 -
5.07x 4.01x 9.90x 6.14x 6.64x 10.22x 12.62x 5.75x 4.85x - -
879.0 219.4 602.3 770.8 59.8 567.7 479.3 359.9 644.1 - -
13.63x 12.64x 19.21x 13.50x 89.55x 14.64x 19.62x 10.68x 6.45x - -
EBITDA 4'465.00 Long-Term Rating Date 15.02.2011
EBIT 3'056.60 Long-Term Rating -
Operating Margin 21.82% Long-Term Outlook NEG
Pretax Margin 12.46% Short-Term Rating Date -
Return on Assets 0.53% Short-Term Rating -
Return on Common Equity 4.40%
Return on Capital 8.19% EBITDA/Interest Exp. 3.81
Asset Turnover 0.39% (EBITDA-Capex)/Interest Exp. 1.43
Net Debt/EBITDA 1.85
Gross Margin 25.4% Total Debt/EBITDA 3.20
EBITDA Margin 35.7%
EBIT Margin 22.0% Total Debt/Equity 364.6%
Net Income Margin 0.4% Total Debt/Capital 47.9%
Asset Turnover 0.39
Current Ratio 1.30 Net Fixed Asset Turnover 0.58
Quick Ratio 0.95 Accounts receivable turnover-days -
Debt to Assets 36.91% Inventory Days 64.34
Tot Debt to Common Equity 364.59% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 18.10
Inventory Turnover 5.69
Fiscal Year Ended
Vedanta Resources PLCPrice/Volume
Valuation Analysis
275'543.00
Current Price (3/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] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VOLCAN INVESTMENTS L n/a ULT-AGG 21'658'314 8.28 897'763 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 15'888'421 6.07 700'472 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 14'275'610 5.46 (1'972'440) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 13'174'040 5.04 773'804 31.12.2012 Unclassified
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 12'815'197 4.9 562'584 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 12'748'300 4.87 (1'375'000) 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 10'757'907 4.11 30'999 25.03.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 8'567'292 3.28 (1'748'957) 31.12.2012 Investment Advisor
ASHMORE WELATH MANAG ASHMORE WEALTH MANAG 13F 6'376'000 2.44 6'376'000 31.12.2012 Investment Advisor
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 5'991'619 2.29 1'087'094 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 5'633'885 2.15 589'194 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 5'122'754 1.96 137'121 31.12.2012 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 5'015'969 1.92 (1'708'902) 31.12.2012 Investment Advisor
PIONEER INVESTMENT M PIONEER INVESTMENT M 13F 4'488'960 1.72 (105'305) 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 4'488'952 1.72 160'666 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 4'142'451 1.58 (9'980) 31.12.2012 Investment Advisor
CITADEL ADVISORS LLC CITADEL ADVISORS LLC 13F 4'031'844 1.54 3'879'923 31.12.2012 Hedge Fund Manager
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'586'099 1.37 (285'572) 31.12.2012 Investment Advisor
ALKEON CAPITAL MANAG ALKEON CAPITAL MANAG 13F 3'289'997 1.26 (1'220'960) 31.12.2012 Hedge Fund Manager
FRANKLIN RESOURCES n/a ULT-AGG 3'097'986 1.18 (96'421) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale AMBRISH SRIVASTAVA outperform 5 M 41 Not Provided 25.03.2013
Robert W. Baird & Co TRISTAN GERRA neutral 3 M 35 12 month 25.03.2013
Wells Fargo Securities, LLC DAVID M WONG outperform 5 M #N/A N/A Not Provided 25.03.2013
MKM Partners DANIEL A BERENBAUM neutral 3 M 34 12 month 22.03.2013
Miller Tabak + Co., LLC BRENDAN FURLONG hold 3 M 36 12 month 21.03.2013
Macquarie SHAWN WEBSTER neutral 3 M 40 12 month 13.03.2013
Argus Research Corp JAMES KELLEHER hold 3 N #N/A N/A Not Provided 08.03.2013
Deutsche Bank ROSS C SEYMORE hold 3 M 37 12 month 06.03.2013
Morgan Stanley JOSEPH MOORE Equalwt/In-Line 3 M #N/A N/A Not Provided 06.03.2013
SunTrust Robinson Humphrey WILLIAM STEIN neutral 3 M 38 12 month 06.03.2013
JPMorgan CHRISTOPHER DANELY overweight 5 M 41 9 month 06.03.2013
Pacific Crest Securities JOHN VINH sector perform 3 M #N/A N/A Not Provided 06.03.2013
William Blair & Co ANIL K DORADLA outperform 5 M #N/A N/A Not Provided 06.03.2013
Lazard Capital Markets IAN ING neutral 3 M #N/A N/A Not Provided 06.03.2013
Piper Jaffray AUGUSTE P RICHARD overweight 5 M 43 12 month 06.03.2013
Credit Agricole Securities (USA) SRINI PAJJURI buy 5 M 44 Not Provided 06.03.2013
Barclays BLAYNE CURTIS equalweight 3 M 36 Not Provided 06.03.2013
Credit Suisse JOHN W PITZER outperform 5 M 42 Not Provided 05.03.2013
Jefferies MARK J LIPACIS hold 3 M 37 12 month 05.03.2013
Raymond James HANS C MOSESMANN outperform 5 M 42 12 month 05.03.2013
Mizuho Securities USA Inc RUBEN ROY neutral 3 M 39 12 month 05.03.2013
ISI Group SUMIT DHANDA buy 5 M 39 12 month 05.03.2013
Goldman Sachs JAMES SCHNEIDER neutral/attractive 3 M 41 12 month 20.02.2013
Drexel Hamilton LLC RICHARD WHITTINGTON buy 5 M 44 12 month 13.02.2013
Canaccord Genuity Corp ROBERT BURLESON hold 3 M 36 12 month 18.01.2013
Wedge Partners JUN ZHANG no rating system #N/A N/A M #N/A N/A Not Provided 18.01.2013
Nomura ROMIT SHAH neutral 3 M 30 12 month 17.01.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013
GARP Research SETH DADDS neutral 3 M #N/A N/A Not Provided 26.07.2012
Holdings By:
Vedanta Resources PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Evraz PLC mines iron ore and coal, and manufactures steel. The Company mines
content, and a community platform that delivers consumer experiences and
advertising solutions across digitial screens. The Company's site includes a
hierarchical, subject-based directory of Web sites, which enables users to
locate and access information.
Latest Fiscal Year: 12/2011
LTM as of: 12/yy
52-Week High (27.03.2012) 398.80
52-Week Low (26.07.2012) 206.80
Daily Volume
219.2
52-Week High % Change -45.04% Dividend Yield 5.14
52-Week Low % Change 6.00% Beta -
% 52 Week Price Range High/Low 6.46% Equity Float 334.65
Shares Out 16.01.2013 1'472.6 Short Int -
3'227.90 1 Yr Total Return -38.28%
Total Debt 7'245.00 YTD Return -15.33%
Preferred Stock 0.0 Adjusted BETA -
Minority Interest 236.0 Analyst Recs 27
Cash and Equivalents 801.00 Consensus Rating 3.667
Enterprise Value 11'139.94
Average Volume 5 Day 4'726'186
EVR LN EQUITY YTD Change - Average Volume 30 Day 3'377'109
EVR LN EQUITY YTD % CHANGE - Average Volume 3 Month 3'370'277
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 12/yy 12/yy 12/12 Y 12/13 Y 12/11 Q4 03/12 Q1
- 20'380.0 9'772.0 13'394.0 16'400.0 4'984.2 4'986.6 14'379.7 14'948.3 - 3'923.0
- - - - 0.88x 12.98x 11.61x 0.80x 0.78x - -
- 5'335.0 1'057.0 2'203.0 2'794.0 1'473.0 1'457.1 2'008.1 2'172.7 - -
- - - - 5.17x 11.37x 11.15x 5.55x 5.13x - -
- 1'797.0 (295.0) 486.0 461.0 1'048.8 3'945.5 130.5 198.0 - -
- - - - 16.31x 19.43x 17.01x 42.99x 26.48x - -
EBITDA 2'794.00 Long-Term Rating Date -
EBIT 1'641.00 Long-Term Rating -
Operating Margin 10.01% Long-Term Outlook -
Pretax Margin 5.32% Short-Term Rating Date -
Return on Assets 0.90% Short-Term Rating -
Return on Common Equity 2.67%
Return on Capital 2.33% EBITDA/Interest Exp. 3.95
Asset Turnover 0.85% (EBITDA-Capex)/Interest Exp. 2.14
Net Debt/EBITDA 2.64
Gross Margin 23.9% Total Debt/EBITDA 3.41
EBITDA Margin 14.7%
EBIT Margin 6.2% Total Debt/Equity 130.7%
Net Income Margin 2.8% Total Debt/Capital 55.6%
Asset Turnover 0.85
Current Ratio 1.77 Net Fixed Asset Turnover 1.83
Quick Ratio 0.67 Accounts receivable turnover-days -
Debt to Assets 42.68% Inventory Days 70.29
Tot Debt to Common Equity 130.66% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 58.86
Inventory Turnover 5.21
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
Evraz PLCPrice/Volume
Valuation Analysis
1'424'964.00
Current Price (3/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
27.03.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
LANEBROOK LTD THIRD POINT LLC 13F 73'000'400 6.63 - 31.12.2012 Hedge Fund Manager
FILO DAVID n/a Form 4 71'361'390 6.48 (500'000) 27.08.2012 n/a
THIRD POINT LLC n/a Form 4 62'000'000 5.63 (11'000'400) 01.02.2013 Hedge Fund Manager
BLACKROCK n/a ULT-AGG 52'947'475 4.81 2'834'452 25.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 48'917'794 4.44 1'641'768 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 46'610'995 4.23 421'157 26.03.2013 Investment Advisor
YANG JERRY n/a Form 4 46'610'564 4.23 800'000 25.11.2011 n/a
CAPITAL GROUP COMPAN n/a ULT-AGG 35'693'952 3.24 (40'053'983) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 35'419'632 3.22 24'881'661 31.12.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 28'229'816 2.56 (3'381'146) 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 27'807'651 2.52 27'786'182 31.12.2012 Investment Advisor
CITIGROUP INCORPORAT CITIGROUP INCORPORAT 13F 15'898'615 1.44 14'394'332 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 14'005'513 1.27 2'372'881 31.12.2012 Investment Advisor
TIGER GLOBAL MANAGEM TIGER GLOBAL MANAGEM 13F 14'000'000 1.27 (11'000'000) 31.12.2012 Hedge Fund Manager
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 13'830'883 1.26 (446) 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 13'158'797 1.19 (8'208'344) 31.12.2012 Government
CRAMER ROSENTHAL MCG CRAMER ROSENTHAL MCG 13F 10'725'954 0.97 2'010'559 31.12.2012 Investment Advisor
D E SHAW & COMPANY I D E SHAW & CO 13F 9'997'715 0.91 2'847'197 31.12.2012 Hedge Fund Manager
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 9'766'006 0.89 2'053'676 31.12.2012 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 9'740'706 0.88 (153'900) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
UFS-Finance Investment Company PETER STABLER market perform 3 M #N/A N/A Not Provided 26.03.2013
Sanford C. Bernstein & Co CARLOS KIRJNER market perform 3 M 23 12 month 22.03.2013
Cantor Fitzgerald YOUSSEF H SQUALI buy 5 M 26 12 month 22.03.2013
Cowen and Company JOHN BLACKLEDGE neutral 3 M #N/A N/A Not Provided 22.03.2013
Pivotal Research Group LLC BRIAN WIESER buy 5 M 23 12 month 21.03.2013
Oppenheimer & Co JASON S HELFSTEIN outperform 5 U 27 12 month 20.03.2013
BGC Partners COLIN W GILLIS hold 3 D 21 12 month 20.03.2013
JMP Securities RONALD V JOSEY III market perform 3 N #N/A N/A Not Provided 19.03.2013
Raymond James AARON M KESSLER outperform 5 N 26 12 month 18.03.2013
Needham & Co LAURA A MARTIN buy 5 M 26 12 month 15.03.2013
Daiwa Securities Co. Ltd. KAZUYA NISHIMURA neutral 3 M 23 Not Provided 15.03.2013
BMO Capital Markets DANIEL SALMON market perform 3 M 20 Not Provided 11.03.2013
RBC Capital Markets MARK S MAHANEY outperform 5 M 24 12 month 10.03.2013
Morgan Stanley JORDAN MONAHAN Equalwt/Attractive 3 M 23 12 month 05.03.2013
Piper Jaffray EUGENE E MUNSTER neutral 3 M 21 12 month 05.03.2013
Barclays ANTHONY J DICLEMENTE overweight 5 U 26 Not Provided 04.03.2013
Goldman Sachs HEATH P TERRY buy/attractive 5 M 26 12 month 01.03.2013
Stifel JORDAN ROHAN buy 5 M 25 12 month 01.03.2013
Wedge Partners MARTIN PYYKKONEN no rating system #N/A N/A M #N/A N/A Not Provided 12.02.2013
S&P Capital IQ SCOTT H KESSLER hold 3 M 22 12 month 07.02.2013
Gabelli & Co BRETT HARRISS buy 5 M #N/A N/A Not Provided 01.02.2013
Macquarie BENJAMIN A SCHACHTER neutral 3 M 23 12 month 30.01.2013
Credit Suisse STEPHEN JU neutral 3 M 21 Not Provided 29.01.2013
JPMorgan DOUGLAS ANMUTH neutral 3 M 22 9 month 29.01.2013
Jefferies BRIAN J PITZ hold 3 M 20 12 month 29.01.2013
William Blair & Co RALPH SCHACKART market perform 3 M #N/A N/A Not Provided 29.01.2013
B Riley & Company, Inc SAMEET SINHA buy 5 M 26 12 month 29.01.2013
Nomura BRIAN NOWAK neutral 3 M 18 12 month 29.01.2013
Atlantic Equities LLP HAMILTON FABER neutral 3 M 21 12 month 29.01.2013
Credit Agricole Securities (USA) JAMES LEE underperform 1 M 21 Not Provided 29.01.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 U #N/A N/A Not Provided 29.01.2013
Pacific Crest Securities EVAN S WILSON sector perform 3 M #N/A N/A Not Provided 28.01.2013
Evercore Partners KEN SENA equalweight 3 M 22 12 month 28.01.2013
Deutsche Bank LLOYD WALMSLEY hold 3 M 15 12 month 27.11.2012
Holdings By:
Evraz PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |