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Financial Analysis - Barclays PLC is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services
 

Financial Analysis - Barclays PLC is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services

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Financial Analysis - Barclays PLC is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management ...

Financial Analysis - Barclays PLC is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services

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    Financial Analysis - Barclays PLC is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services Financial Analysis - Barclays PLC is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services Presentation Transcript

    • 24.04.2013Ticker: Barclays PLC Benchmark:Currency: London: BARC, Currency: GBp FTSE 100 INDEX (UKX)Sector: Financials Industry: Commercial Banks Year:Telephone 44-2071-161-000 Revenue (M) Business Segments in GBp Sales (M) Geographic Segments in GBp Sales (M)Website www.barclays.com No of Employees Corporate & Investment Banking 1464000 UK 1201200Address 1 Churchill Place London, E14 5HP United Kingdom Retail & Business Banking 1266300 Americas 759900Share Price Performance in GBp Wealth & Investment Management 181500 Africa and Middle East 451000Price 293.35 1M Return 0.5% Head Office & Other Operations -442700 Europe 38160052 Week High 326.50 6M Return 29.8% Barclays Global Investors Asia 11060052 Week Low 145.19 52 Wk Return 43.0% Rest of the World52 Wk Beta 2.12 YTD Return 13.2% United StatesCredit RatingsBloomberg HY1S&P A Date 29.11.2011 Outlook NEGMoodys (P)A3 Date 21.06.2012 Outlook NEGFitch A Date 15.12.2011 Outlook STABLEValuation Ratios12/09 12/10 12/11 12/12 12/13E 12/14E 12/15EP/E 11.5x 8.6x 7.0x - 8.1x 6.7x 5.8xEV/EBIT - - - - - - -EV/EBITDA - - - - - - -P/S 0.7x 0.8x 0.5x 0.8x 1.3x 1.3x 1.2xP/B 0.7x 0.6x 0.4x 0.6x 0.7x 0.6x 0.6xDiv Yield 0.9% 2.1% 3.4% 2.5% 2.5% 3.2% 4.5%Profitability Ratios %12/09 12/10 12/11 12/12 12/13E 12/14E 12/15EGross Margin - - - - - - -EBITDA Margin - - - - - - -Operating Margin 19.1 17.4 18.2 22.1 27.2 30.7 32.9Profit Margin 28.9 11.0 10.0 -3.3 15.6 18.5 21.0Return on Assets 0.5 0.2 0.2 -0.1 0.3 0.4 0.4Return on Equity 22.4 7.3 5.6 -1.9 8.3 9.5 10.3Leverage and Coverage Ratios12/09 12/10 12/11 12/12Current Ratio - - - - Current Capitalization in GBpQuick Ratio - - - - Common Shares Outstanding (M) 12243.0EBIT/Interest - - - - Market Capitalization (M) 3773318.0Tot Debt/Capital 0.9 0.9 0.9 0.9 Cash and ST Investments (M) 11635600.0Tot Debt/Equity 7.5 7.8 6.9 7.0 Total Debt (M) 48096100.0Eff Tax Rate % 23.4 25.0 32.8 195.9 Preferred Equity (M) 0.0LT Investments in Affiliate Companies (M) 0.0Investments (M) 929100.0Enterprise Value (M) 41162918.0Barclays PLC is a global financial services provider engaged in retail banking, creditcards, wholesale banking, investment banking, wealth management and investmentmanagement services.BARC LN3883700143700Company Analysis - Overview44%38%5%13%Corporate & Investment BankingRetail & Business BankingWealth & Investment ManagementHead Office & Other Operations41%26%16%13%4%UKAmericasAfrica and Middle EastEuropeAsiaQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
    • Barclays PLCTarget price in GBpDate Buy Hold Sell Date Price Target Price Broker Analyst Recommendation Target Date29-Mar-13 64% 27% 9% 24-Apr-13 293.35 363.64 Deutsche Bank JASON NAPIER buy 380.00 24-Apr-1328-Feb-13 63% 28% 9% 23-Apr-13 298.30 363.64 Investec IAN GORDON buy 345.00 24-Apr-1331-Jan-13 55% 29% 16% 22-Apr-13 289.50 363.64 RBC Capital Markets FIONA SWAFFIELD outperform 375.00 24-Apr-1331-Dec-12 52% 32% 16% 19-Apr-13 286.35 363.64 Keefe, Bruyette & Woods MARK J PHIN outperform 400.00 24-Apr-1330-Nov-12 52% 35% 13% 18-Apr-13 283.75 363.64 Sanford C. Bernstein & Co CHIRANTAN BARUA outperform 400.00 24-Apr-1331-Oct-12 48% 35% 16% 17-Apr-13 290.30 363.64 Canaccord Genuity Corp GARETH HUNT hold 280.00 24-Apr-1328-Sep-12 55% 32% 13% 16-Apr-13 294.80 363.38 Nomura CHINTAN JOSHI reduce 305.00 24-Apr-1331-Aug-12 61% 29% 10% 15-Apr-13 296.75 363.38 Numis Securities Ltd MICHAEL J TRIPPITT buy 400.00 24-Apr-1331-Jul-12 65% 26% 10% 12-Apr-13 299.30 363.38 Oriel Securities Ltd VIVEK RAJA buy 380.00 24-Apr-1329-Jun-12 63% 28% 9% 11-Apr-13 303.90 363.38 Societe Generale JAMES INVINE buy 380.00 23-Apr-1331-May-12 67% 24% 9% 10-Apr-13 298.25 363.38 Credit Suisse CARLA ANTUNES-SILVA neutral 290.00 22-Apr-1330-Apr-12 67% 24% 9% 9-Apr-13 286.00 363.38 JPMorgan RAUL SINHA overweight 375.00 22-Apr-138-Apr-13 277.20 363.38 Exane BNP Paribas TOM RAYNER outperform 400.00 22-Apr-135-Apr-13 280.00 363.38 Macquarie EDWARD FIRTH neutral 320.00 19-Apr-134-Apr-13 284.90 363.38 AlphaValue DAVID GRINSZTAJN buy 353.00 18-Apr-133-Apr-13 289.30 363.38 Bankhaus Lampe NEIL SMITH buy 370.00 17-Apr-132-Apr-13 297.50 363.38 Baden Hill LLP JAMIE MOYES sell 12-Apr-131-Apr-13 291.15 363.38 Berenberg Bank JAMES CHAPPELL sell 160.00 11-Apr-1329-Mar-13 291.15 363.38 Day by Day VALERIE GASTALDY buy 361.00 10-Apr-1328-Mar-13 291.15 363.38 Redburn Partners FAHED KUNWAR buy 8-Apr-1327-Mar-13 287.90 365.84 Grupo Santander ARTURO DE FRIAS buy 340.00 2-Apr-1326-Mar-13 287.20 365.84 Mediobanca SpA CHRISTOPHER J WHEELER outperform 425.00 28-Mar-1325-Mar-13 282.10 365.84 Shore Capital Stockbrokers GARY GREENWOOD hold 28-Mar-1322-Mar-13 292.00 364.32 Morgan Stanley CHRISTOPHER MANNERS Overwt/In-Line 438.00 25-Mar-1321-Mar-13 294.60 364.32 EVA Dimensions AUSTIN BURKETT hold 21-Mar-1320-Mar-13 295.20 364.32 HSBC PETER TOEMAN overweight 400.00 26-Feb-1319-Mar-13 297.50 364.32 Espirito Santo Investment Bank Research SHAILESH RAIKUNDLIA buy 418.00 26-Feb-1318-Mar-13 305.95 364.32 Goldman Sachs FREDERIK THOMASEN neutral/neutral 340.00 19-Feb-1315-Mar-13 320.05 364.32 S&P Capital IQ FRANK BRADEN buy 380.00 13-Feb-1314-Mar-13 317.90 364.32 Independent Research GmbH STEFAN BONGARDT buy 350.00 12-Feb-13Company Analysis - Analysts RatingsBuy and Sell Recommendations vs Price and Target Price67% 67% 63% 65% 61%55%48% 52% 52% 55%63% 64%24% 24% 28% 26% 29%32%35%35% 32% 29%28% 27%9% 9% 9% 10% 10% 13% 16% 13% 16% 16%9% 9%0%20%40%60%80%100%avr.12 mai.12 juin.12 juil.12 août.12 sept.12 oct.12 nov.12 déc.12 janv.13 févr.13 mars.13BrokerRecommendation050100150200250300350400PriceBuy Hold Sell Price Target PriceBrokers Target Price050100150200250300350400450500DeutscheBankInvestecRBCCapitalMarketsKeefe,Bruyette&WoodsSanfordC.Bernstein&CoCanaccordGenuityCorpNomuraNumisSecuritiesLtdOrielSecuritiesLtdSocieteGeneraleCreditSuisseJPMorganExaneBNPParibasMacquarieAlphaValueBankhausLampeBadenHillLLPBerenbergBankDaybyDayRedburnPartnersGrupoSantanderMediobancaSpAShoreCapitalStockbrokersMorganStanleyEVADimensionsHSBCEspiritoSantoInvestmentBankResearchGoldmanSachsS&PCapitalIQIndependentResearchGmbHLiberumCapitalLtdQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
    • 24.04.2013Barclays PLCOwnership Statistics Geographic Ownership DistributionShares Outstanding (M) 12243.0 United States 34.10%Float 87.6% Britain 30.49%Short Interest (M) Unknown Country 9.95%Short Interest as % of Float Qatar 7.58%Days to Cover Shorts Luxembourg 2.84%Institutional Ownership 76.75% Japan 2.68%Retail Ownership 23.09% Switzerland 1.54%Insider Ownership 0.16% Others 10.83%Institutional Ownership DistributionInvestment Advisor 63.18%Government 9.93%Bank 7.73%Individual 7.23%Pricing data is in GBp Others 11.93%Top 20 Owners:Holder Name Position Position Change Market Value % of Ownership Report Date Source CountryQATAR HOLDINGS LLC 813964552 0 238776501329 6.33% 01.02.2013 REG QATARAL NAHYAN MANSOUR BI 758437618 0 222487675240 5.90% 18.04.2013 RNS-MAJ n/aBLACKROCK 690750564 0 202631677949 5.37% 22.04.2013 ULT-AGG UNITED STATESCAPITAL GROUP COMPAN 492619694 120690937 144509987235 3.83% 31.03.2013 ULT-AGG UNITED STATESLEGAL & GENERAL 446002615 13623199 130834867110 3.47% 01.02.2013 ULT-AGGFMR LLC 407892662 -62197802 119655312398 3.17% 28.02.2013 ULT-AGG UNITED STATESSCOTTISH WIDOWS 304001751 7602767 89178913656 2.36% 01.02.2013 ULT-AGGNORGES BANK INVESTME 293887216 9654863 86211814814 2.28% 01.02.2013 REG NORWAYUPPER CHANCE GROUP L 248872808 0 73006838227 1.93% 01.02.2013 REG UKDODGE & COX 247149298 -920319 72501246568 1.92% 31.03.2013 MF-AGG UNITED STATESDODGE & COX 247149298 -19000000 72501246568 1.92% 01.02.2013 REG UNITED STATESSTANDARD LIFE INVEST 235301396 -4091569 69025664517 1.83% 01.02.2013 REG BRITAINUBS 214394548 -58774511 62892640656 1.67% 28.02.2013 ULT-AGGBARCLAYS PERSONAL IN 210027061 -18528345 61611438344 1.63% 01.02.2013 REG BRITAINSUMITOMO MITSUI FINA 194608412 -259690 57088377660 1.51% 01.02.2013 ULT-AGG JAPANSTATE STREET 184817876 -34284218 54216323925 1.44% 23.04.2013 ULT-AGG UNITED STATESVANGUARD GROUP INC 160323919 -1381358 47031021639 1.25% 31.03.2013 MF-AGG UNITED STATESFRANKLIN RESOURCES 149488179 -11569337 43852357310 1.16% 01.02.2013 ULT-AGG UNITED STATESVANGUARD GROUP INC 146704193 6134884 43035675017 1.14% 01.02.2013 REG UNITED STATESPEOPLES REPUBLIC OF 129472703 2971061 37980817425 1.01% 01.02.2013 REG CHINATop 5 Insiders:Holder Name Position Position Change Market Value % of Ownership Report Date SourceDIAMOND JR ROBERT EDWARD 13412839 6510 3934656321 0.10% 15.06.2012 RNS-DIRJENKINS ANTONY P 2452083 536 719318548 0.02% 25.03.2013 RNS-DIRLUCAS CHRISTOPHER 1114623 9860 326974657 0.01% 21.03.2013 RNS-DIRAGIUS MARCUS A P 232244 68128777 0.00% 02.03.2012 Co FileSUNDERLAND JOHN M 98302 2487 28836892 0.00% 19.02.2013 RNS-DIRCompany Analysis - OwnershipOwnership Type77%23%0%Institutional Ownership Retail Ownership Insider OwnershipGeographic Ownership33%11%10%3%8%3%2%30%United States Britain Unknown CountryQatar Luxembourg JapanSwitzerland OthersInstitutional Ownership63%8%12%7%10%Investment Advisor Government Bank Individual OthersTOP 20 ALLQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
    • Barclays PLCFinancial information is in GBp (M)Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15EIncome StatementRevenue 1769500 1886700 2181700 2721500 3508500 3966800 3715900 4178900 4005800 3842800 3883700 2927873 3010932 3108065- Cost of Goods SoldGross Income- Selling, General & Admin Expenses 662500 725200 852700 1051800 1308500 1319900 1339700 1668200 1972800 1918000 1913900(Research & Dev Costs)Operating Income 321800 381200 448800 524400 635600 700600 72000 619000 564900 547200 690800 795113 923525 1022500- Interest Expense- Foreign Exchange Losses (Gains)- Net Non-Operating Losses (Gains) 1300 -3300 -9200 -3600 -78000 -7000 -441600 160500 -41600 -40700 666200Pretax Income 320500 384500 458000 528000 713600 707600 513600 458500 606500 587900 24600 724492 863296 1491972- Income Tax Expense 95500 107600 127900 143900 194100 198100 45300 107400 151600 192800 48200Income Before XO Items 225000 276900 330100 384100 519500 509500 468300 351100 454900 395100 -23600- Extraordinary Loss Net of Tax 0 0 0 0 0 0 -60400 -677700 0 0 0- Minority Interests 2000 2500 4700 39400 62400 67800 90500 89500 98500 94400 80500Diluted EPS Before XO Items 32.55 41.02 48.72 51.76 68.41 65.30 49.86 22.78 28.62 24.01 (8.25)Net Income Adjusted* 223000 274000 322300 344700 438400 441700 197600 288500 328248 304300 421800 455748 557023 652873EPS Adjusted 32.82 0.00 49.66 52.97 67.20 67.10 26.70 26.50 28.00 25.40 34.50 36.42 43.82 51.00Dividends Per Share 17.87 19.96 23.37 25.91 30.19 33.11 11.50 2.50 5.50 6.00 6.50 7.24 9.36 13.19Payout Ratio % 54.1 48.8 47.0 48.9 43.2 51.0 24.0 11.0 18.8 24.2 0.20 0.21 0.26Total Shares Outstanding 6757 6744 6627 6664 6710 6778 8372 11412 12182 12199 12243Diluted Shares Outstanding 6852 6689 6679 6660 6682 6764 7577 11484 12452 12526 12614EBITDA*Net income excludes extraordinary gains and losses and one-time charges.Equivalent EstimatesCompany Analysis - Financials I/IVFiscal YearQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
    • Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15EBalance SheetTotal Current Assets+ Cash & Near Cash Items 436700 373200 352500 580700 975300 763700 3171400 8307600 9901400 10870600 8763100+ Short Term Investments 5114800 5448600 9694800 30531700 34416700 38424300 37181200 25039500 27546200 19401300 26620000+ Accounts & Notes Receivable+ Inventories+ Other Current AssetsTotal Long-Term Assets+ Long Term Investments 5385500 5794300 5142000 6361000 0Gross Fixed AssetsAccumulated Depreciation+ Net Fixed Assets 162600 179000 228200 275400 249200 299600 467400 562600 614000 716600 575400+ Other Long Term Assets 3149400 3666700 4096500 15008000 15305900 26389200 100490400 43504200 43751600 55698700 48717200Total Current Liabilities+ Accounts Payable+ Short Term Borrowings 11794300 11418200 21738100 15006900 16181900 17816600 22165900 15491200 17782300 16260000 12852300+ Other Short Term Liabilities 4538200 5590000 2128000 20784700 36855900 25003500 22319200 15583200 17238900 13625000 12526800Total Long Term Liabilities+ Long Term Borrowings 2691300 4181800 4366500 4122500 4281200 5075800 7266000 8325200 8527400 8312200 9208600+ Other Long Term Borrowings 2596900 2983700 2159900 14092400 249700 25151000 97026800 40524500 42057500 54303500 47843800Total Liabilities 38770500 42660500 52141700 89992700 96939700 119488500 200556900 132045100 142738300 149833100 142736400+ Long Preferred Equity 0 0 0 0 0 0 0 0 0 0 0+ Minority Interest 15600 28300 89400 700400 759100 918500 1079300 1120100 1140400 960700 937100+ Share Capital & APIC 753900 767600 806400 819900 745200 170700 613800 1080400 1233900 1238000 1247700+ Retained Earnings & Other Equity 766200 879700 780600 922700 1234700 2158400 3048000 3647300 3851900 4320900 4110900Total Shareholders Equity 1535700 1675600 1676400 2443000 2739000 3247600 4741100 5847800 6226200 6519600 6295700Total Liabilities & Equity 40306200 44336100 53818100 92435700 99678700 122736100 205298000 137892900 148964500 156352700 149032100Book Value Per Share 224.98 244.25 239.47 261.49 295.05 343.62 437.39 414.27 417.48 455.68 437.69 434.50 460.98 491.94Tangible Book Value Per Share 166.76 178.92 169.20 152.08 186.16 221.23 313.14 337.21 346.09 391.37 373.04Company Analysis - Financials II/IVQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
    • Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15ECash FlowsNet Income 223000 274400 325400 344700 457100 441700 438200 939300 356400 300700 -104100 425125 521100 599231+ Depreciation & Amortization 202900 190100 142100 202100 276600 346400 630400 926700 701800 670600 471500+ Other Non-Cash Adjustments 1272200 941800 -241200 2695300 -1715900 -3123000 319400 4690500 760500 -742000 -1502700+ Changes in Non-Cash Capital -3634100 -2546000 -2176100 -3270100 31000 0 0 0Cash From Operating Activities -1936000 -1139700 -1949800 -28000 -951200 -2334900 1388000 6556500 1818700 229300 -1135300+ Disposal of Fixed Assets 28900 9700 12500 9800 78600 61700 79900 37200 55600+ Capital Expenditures -30100 -31000 -53200 -58800 -65400 -124100 -164300 -115000 -176700 -145400 -60400+ Increase in Investments -2812800 -3688600 -4752000 -5348300 -4708600 -2689900 -5775600 -7842000 -7641800 -6752500 -8079600+ Decrease in Investments 2138400 3853100 4116300 5111100 4606900 3842300 5142900 8855900 7125100 6694100 7376900+ Other Investing Activities -61200 -93000 -24900 -234200 -26900 -83600 -149100 252700 75100 12600 53200Cash From Investing Activities -1618000 -832900 -4977600 -6838100 -2853900 -6792300 -6709300 3737000 -6883900 3642800 -486800+ Dividends Paid -114600 -124900 -142500 -189400 -221500 -255900 -269700 -63300 -130700 -138700 -142700+ Change in Short Term Borrowings 0 0 0 0 0 0+ Increase in Long Term Borrowings 217300 192600 66600 117900 4943700 9521400 576300 354900 213100 88000 225800+ Decrease in Long Term Borrowings -37600 -97400 -61100 -46400 -36600 -68300 -120700 -438300 -121100 -400300 -268000+ Increase in Capital Stocks 8700 11300 6000 13800 17900 249400 959200 80600 153500 4100 9700+ Decrease in Capital Stocks -54600 -20400 -73400 -14300 -3100 -185000 -17300 0 -98900 -23500 -97900+ Other Financing Activities 65600 331300 453400 1606600 119400 78100 -437600 -324000 384200 -419000 -422000Cash From Financing Activities 3433300 1935400 6993700 6786400 4819800 9339700 8464500 -5310400 6771200 -2044800 -1154500Net Changes in Cash -120700 -37200 66300 -79700 1014700 212500 3143200 4983100 1706000 1827300 -2776600Free Cash Flow (CFO-CAPEX) -1966100 -1170700 -2003000 -86800 -1016600 -2459000 1223700 6441500 1642000 83900 -1195700Free Cash Flow To FirmFree Cash Flow To Equity -1757500 -1065800 -1985000 -5500 3969100 7055800 1759200 6395300 1789600 -228400 -1237900Free Cash Flow per Share -288.97 -175.86 -305.70 -13.34 -155.74 -373.60 165.61 591.51 140.11 7.00 -97.81Company Analysis - Financials III/IVQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
    • Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15ERatio AnalysisValuation RatiosPrice Earnings 11.4x 11.8x 11.5x 11.2x 10.2x 7.3x 3.0x 11.5x 8.6x 7.0x 8.1x 6.7x 5.8xEV to EBITEV to EBITDAPrice to Sales 1.4x 1.7x 1.7x 1.4x 1.3x 0.8x 0.3x 0.7x 0.8x 0.5x 0.8x 1.3x 1.3x 1.2xPrice to Book 1.7x 2.0x 2.4x 2.3x 2.4x 1.4x 0.4x 0.7x 0.6x 0.4x 0.6x 0.7x 0.6x 0.6xDividend Yield 4.8% 4.1% 4.1% 4.4% 4.2% 6.7% 7.5% 0.9% 2.1% 3.4% 2.5% 2.5% 3.2% 4.5%Profitability RatiosGross MarginEBITDA Margin - - -Operating Margin 27.1% 29.2% 30.4% 29.0% 28.3% 29.2% 3.5% 19.1% 17.4% 18.2% 22.1% 27.2% 30.7% 32.9%Profit Margin 18.8% 21.0% 22.0% 19.1% 20.4% 18.4% 21.3% 28.9% 11.0% 10.0% -3.3% 15.6% 18.5% 21.0%Return on Assets 0.6% 0.6% 0.7% 0.5% 0.5% 0.4% 0.3% 0.5% 0.2% 0.2% -0.1% 0.3% 0.4% 0.4%Return on Equity 15.0% 17.3% 20.1% 20.7% 24.6% 20.5% 14.6% 22.4% 7.3% 5.6% -1.9% 8.3% 9.5% 10.3%Leverage & Coverage RatiosCurrent RatioQuick RatioInterest Coverage Ratio (EBIT/I)Tot Debt/Capital 0.90 0.90 0.94 0.93 0.93 0.92 0.91 0.88 0.89 0.87 0.87Tot Debt/Equity 9.43 9.31 15.57 12.79 12.47 12.27 10.05 7.47 7.85 6.95 6.96OthersAsset Turnover 0.05 0.04 0.04 0.04 0.04 0.04 0.02 0.02 0.03 0.03 0.03Accounts Receivable TurnoverAccounts Payable TurnoverInventory TurnoverEffective Tax Rate 29.8% 28.0% 27.9% 27.3% 27.2% 28.0% 8.8% 23.4% 25.0% 32.8% 195.9%Company Analysis - Financials IV/IVQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
    • BARCLAYS PLCROYAL BKSCOTLANLLOYDS BANKING HSBC HLDGS PLCSTANDARDCHARTERDEUTSCHE BANK-RGUBS AG-REG JPMORGAN CHASE CITIGROUP INCBANCOSANTANDERMITSUBISHI UFJ F BANK NY MELLONMIZUHOFINANCIALROYAL BANK OFCACAN IMPL BKCOMM12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 03/2012 12/2012 03/2012 10/2012 10/2012330.05 369.60 56.10 741.20 1860.50 38.73 16.39 51.00 47.92 6.68 692.00 29.13 225.00 64.92 84.9913.02.2013 28.01.2013 20.02.2013 14.03.2013 05.03.2013 01.02.2013 25.01.2013 14.03.2013 11.03.2013 14.01.2013 10.04.2013 14.03.2013 05.04.2013 20.02.2013 20.02.2013148.20 193.30 24.75 501.20 1092.00 22.11 9.69 30.83 24.61 3.98 328.00 19.30 110.00 48.70 69.1326.07.2012 24.07.2012 30.05.2012 30.05.2012 07.08.2012 26.07.2012 24.07.2012 04.06.2012 04.06.2012 23.07.2012 04.06.2012 04.06.2012 04.06.2012 04.06.2012 04.06.201242287839 3861320 74296559 7407797 869699 4343215 5855902 20568406 28839907 60588641 71746800 7348147 182845800 4161589 1329435293.35 293.60 51.15 693.00 1636.50 31.78 15.40 48.17 46.46 5.53 646.00 27.54 214.00 59.87 77.88-11.1% -20.6% -8.8% -6.5% -12.0% -18.0% -6.0% -5.5% -3.0% -17.2% -6.6% -5.4% -4.9% -7.8% -8.4%97.9% 51.9% 106.7% 38.3% 49.9% 43.7% 59.0% 56.2% 88.8% 39.1% 97.0% 42.7% 94.5% 22.9% 12.7%12243.0 11170.8 70423.8 18476.0 2413.0 929.2 3747.4 3804.0 3028.9 10321.0 14145.0 1163.5 24011.1 1444.8 404.537733 32907 36480 128651 39569 29535 59089 182555 141373 60004 9146446 32000 5171281 86592 31206437951.0 316688.0 194299.0 284987.0 111255.0 278501.0 267401.0 695583.0 623537.0 367524.0 53760773.0 62098.0 54752099.0 113303.0 26167.0- - - 2728.0 - - - 9058.0 2562.0 - 390001.0 1068.0 410368.0 4813.0 1706.09371.0 2318.0 685.0 7887.0 693.0 407.0 4353.0 - 1948.0 9672.0 1674821.0 1011.0 1957699.0 1761.0 172.0128120.0 108458.0 105871.0 256366.0 129424.0 147433.0 66383.0 471833.0 36453.0 182116.0 9384046.0 145340.0 7527509.0 22872.0 4727.0- - - - - - 264460 - 799437 - - - - - -LFY 38837.0 28263.0 36408.0 88382.0 26817.0 52299.0 37754.0 108184.0 90708.0 43575.0 4536724.0 15089.0 2453016.0 34481.0 17130.0LTM 38837.0 26944.0 36408.0 69265.0 26817.0 52356.0 37758.0 106713.0 90629.0 43575.0 4296873.0 15512.0 2633625.0 35151.0 17102.0CY+1 29278.7 22844.4 18178.4 68573.2 20687.2 33805.5 26834.9 99662.3 78925.3 44058.6 3548294.1 14735.2 2143031.7 30935.5 12985.8CY+2 30109.3 21055.7 18111.8 72313.1 22693.0 34795.0 27871.0 102507.3 80915.9 46116.8 3455446.5 15417.9 2053211.1 32478.6 13491.1LFY - - - - - - 6.9x - 8.7x - - - - - -LTM - - - - - - 6.9x - 8.7x - - - - - -CY+1 -6.8x - - 1.0x - 1.9x - - - - - - - - -CY+2 -7.3x - - 0.4x - 1.9x - - - - - - - - -LFY - - - - - - 15529.0 - 41810.0 - - - - - -LTM - - - - - - 15530.0 - 41647.0 - - - - - -CY+1 - - - - - - - - - - - - - - -CY+2 - - - - - - - - - - - - - - -LFY - - - - - - 16.7x - 19.0x - - - - - -LTM - - - - - - 16.7x - 17.1x - - - - - -CY+1 - - - - - - - - - - - - - - -CY+2 - - - - - - - - - - - - - - -LFY 0.45 0.08 0.01 0.49 2.03 1.91 0.52 6.04 4.83 0.60 - 2.34 - 5.03 7.90LTM -0.09 -0.51 -0.02 0.79 2.04 0.26 -0.67 5.97 4.15 0.24 48.70 2.30 25.01 4.98 7.88CY+1 0.36 0.23 0.04 0.98 2.37 3.83 0.89 5.63 4.70 0.57 51.79 2.25 21.37 5.44 8.46CY+2 0.44 0.33 0.06 1.09 2.61 4.93 1.19 5.94 5.32 0.67 51.83 2.56 18.44 5.81 8.84LFY - - - 13.3x 12.3x 122.2x - 8.1x 11.2x 23.2x 13.3x 12.0x 8.6x 12.0x 9.9xLTM 6.5x 13.1x 35.5x - 12.3x 17.2x 30.1x 8.1x 11.2x 8.8x - 12.0x - 12.0x 9.9xCY+1 8.1x 13.0x 12.2x 10.8x 10.5x 8.3x 17.3x 8.6x 9.9x 9.8x 12.5x 12.2x 10.0x 11.0x 9.2xCY+2 6.7x 9.0x 9.0x 9.7x 9.6x 6.4x 12.9x 8.1x 8.7x 8.3x 12.5x 10.8x 11.6x 10.3x 8.8x1 Year 1.1% (12.9%) 1.8% (6.8%) 9.8% (0.7%) (7.6%) (2.4%) (11.6%) (44.1%) 4.2% (4.5%) 0.1% 2.2% (1.6%)5 Year (1.3%) - - - 4.0% 3.8% (10.1%) 0.8% (2.3%) 9.5% (3.2%) (2.9%) (1.9%) (0.6%) 14.4%1 Year - - - - - - (11.1%) - (21.9%) - - - - - -5 Year - - - - - - (31.3%) - (15.7%) - - - - - -LTM - - - - - - 41.1% - 45.8% - - - - - -CY+1 - - - - - - - - - - - - - - -CY+2 - - - - - - - - - - - - - - -Total Debt / Equity % 817.3% 464.8% 441.6% 165.2% 245.3% 515.7% 582.6% 356.7% 334.4% 492.3% 559.4% 175.6% 1216.4% 287.2% 172.6%Total Debt / Capital % 87.4% 81.8% 81.3% 60.9% 70.7% 83.7% 84.2% 77.3% 76.6% 81.3% 82.2% 62.4% 88.9% 71.1% 60.6%Total Debt / EBITDA - - - - - - 17.218x - 14.972x - - - - - -Net Debt / EBITDA - - - - - - 10.520x - 14.097x - - - - - -EBITDA / Int. Expense - - - - - - - - - - - - - - -S&P LT Credit Rating A A- A- A+ A+ A+ *- A A A- BBB A A+ A AA- A+S&P LT Credit Rating Date 29.11.2011 29.11.2011 29.11.2011 29.11.2011 01.12.2011 26.03.2013 29.11.2011 29.11.2011 29.11.2011 16.10.2012 30.09.2008 29.11.2011 18.06.2007 15.11.1994 27.09.2002Moodys LT Credit Rating (P)A3 Baa1 A3 Aa3 A2 A2 A2 A2 Baa2 (P)Baa2 - Aa3 - Aa3 Aa3Moodys LT Credit Rating Date 21.06.2012 21.06.2012 21.06.2012 21.06.2012 26.11.2010 21.06.2012 21.06.2012 21.06.2012 21.06.2012 24.10.2012 - 08.03.2012 - 21.06.2012 28.01.201352-Week High Date52-Week LowLatest Fiscal Year:52-Week HighTotal DebtMarket CapitalizationDaily Volume52-Week Low % ChangeCurrent Price (4/dd/yy)52-Week High % ChangeCash and EquivalentsEBITDAEV/EBITDAEnterprise ValueValuationPreferred Stock52-Week Low DateMinority InterestTotal Common Shares (M)P/ERevenue GrowthTotal RevenueEV/Total RevenueEPSEBITDA GrowthEBITDA MarginCredit RatingsLeverage/Coverage RatiosCompany Analysis - Peers ComparisionQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |