Fundamental Analysis & Recommendations - OEX Index - The Standard & Poor's 100 Index is a capitalization-weighted index based on 100 highly capitalized stocks selected from the S&P 500 index for which options are listed.
Fundamental Analysis & Recommendations - OEX Index - The Standard & Poor's 100 Index is a capitalization-weighted index based on 100 highly capitalized stocks selected from the S&P 500 index for which options are listed.
Similar to Fundamental Analysis & Recommendations - OEX Index - The Standard & Poor's 100 Index is a capitalization-weighted index based on 100 highly capitalized stocks selected from the S&P 500 index for which options are listed.
Similar to Fundamental Analysis & Recommendations - OEX Index - The Standard & Poor's 100 Index is a capitalization-weighted index based on 100 highly capitalized stocks selected from the S&P 500 index for which options are listed. (20)
Fundamental Analysis & Recommendations - OEX Index - The Standard & Poor's 100 Index is a capitalization-weighted index based on 100 highly capitalized stocks selected from the S&P 500 index for which options are listed.
1. Fundamental Analysis &
Analyst Recommendations
QMS Advisors FlexIndex OEX 100
The Standard & Poor's 100 Index is a capitalization-weighted index based on 100
highly capitalized stocks selected from the S&P 500 index.
October 2013
Q.M.S Advisors
Q.M.S Advisors | Avenue de la Gare, 1 1003 Lausanne | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
This material does not constitute investment advice and should not be
viewed as a current or past recommendation or a solicitation of an
offer to buy or sell any securities or to adopt any investment strategy.
8. 27.09.2013
Apple Inc. designs, manufactures, and markets personal computers and related
personal computing and mobile communication devices along with a variety of
related software, services, peripherals, and networking solutions. The Company
sells its products worldwide through its online stores, its retail stores, its
direct sales force, third-party wholesalers, and resellers.
Latest Fiscal Year: 09/2012
LTM as of: 06/yy
52-Week High (27.09.2012) 682.14
52-Week Low (19.04.2013) 385.10
Daily Volume
483.06
52-Week High % Change -29.22% Dividend Yield 2.28
52-Week Low % Change 25.37% Beta 1.02
% 52 Week Price Range High/Low 34.04% Equity Float 908.08
Shares Out 12.07.2013 908.5 Short Int 17.87
438'858.56 1 Yr Total Return -27.45%
Total Debt 0.00 YTD Return -7.70%
Preferred Stock 0.0 Adjusted BETA 1.020
Minority Interest 0.0 Analyst Recs 66
Cash and Equivalents 121'251.00 Consensus Rating 4.242
Enterprise Value 309'196.56
Average Volume 5 Day 4'511'178
AAPL UW EQUITY YTD Change - Average Volume 30 Day 3'556'753
AAPL UW EQUITY YTD % CHANGE - Average Volume 3 Month 3'219'612
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 06/yy 06/yy 09/13 Y 09/14 Y 09/13 Q4 12/13 Q1
37'491.0 42'905.0 65'225.0 108'249.0 156'508.0 148'812 169'404 170'118 181'349 36'658 54'815
2.39x 3.03x 3.32x 2.72x 3.23x 9.77x 7.96x 2.07x 1.84x 8.37x 5.39x
8'823.0 12'474.0 19'412.0 35'604.0 58'518.0 55'846.0 55'868.0 54'803.8 58'597.3 11'372.5 18'295.0
10.14x 10.43x 11.17x 8.26x 8.63x 7.70x 4.13x 5.65x 5.28x 5.39x 5.27x
6'119.0 8'235.0 14'013.0 25'922.0 41'733.0 40'133.0 37'748.0 36'654.5 38'288.8 7'113.7 12'209.8
18.91x 20.08x 19.30x 14.61x 15.11x 13.73x 9.90x 12.27x 11.25x 11.71x 11.21x
EBITDA 58'518.00 Long-Term Rating Date 23.04.2013
EBIT 55'241.00 Long-Term Rating AA+
Operating Margin 35.30% Long-Term Outlook STABLE
Pretax Margin 35.63% Short-Term Rating Date -
Return on Assets 20.81% Short-Term Rating -
Return on Common Equity 32.11%
Return on Capital 29.98% EBITDA/Interest Exp. -
Asset Turnover 0.93% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -2.32
Gross Margin 43.9% Total Debt/EBITDA 0.30
EBITDA Margin 33.0%
EBIT Margin 29.5% Total Debt/Equity 0.0%
Net Income Margin 26.7% Total Debt/Capital 0.0%
Asset Turnover 0.93
Current Ratio 1.50 Net Fixed Asset Turnover 12.64
Quick Ratio 1.04 Accounts receivable turnover-days 17.72
Debt to Assets 0.00% Inventory Days 4.91
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 55.95
Accounts Receivable Turnover 20.54 Cash Conversion Cycle -52.97
Inventory Turnover 74.19
Fiscal Year Ended
Apple Inc
Price/Volume
Valuation Analysis
652'271.00
Current Price (9/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
0
100
200
300
400
500
600
700
s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13
.0 M
2.0 M
4.0 M
6.0 M
8.0 M
10.0 M
12.0 M
14.0 M
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
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
16.00
18.00
20.00
02.10.2009 02.04.2010 02.10.2010 02.04.2011 02.10.2011 02.04.2012 02.10.2012 02.04.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
9. 27.09.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 47'045'851 5.18 (2'232'575) 25.09.2013 Investment Advisor
VANGUARD GROUP INC n/a ULT-AGG 44'504'335 4.9 1'256'511 30.06.2013 Unclassified
STATE STREET CORP n/a ULT-AGG 37'660'080 4.15 96'079 26.09.2013 Investment Advisor
FMR LLC n/a ULT-AGG 31'023'222 3.41 (3'724'460) 30.06.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 13'976'334 1.54 127'619 30.06.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 12'627'644 1.39 128'905 26.09.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 12'372'947 1.36 (189'644) 30.06.2013 Investment Advisor
GOLDMAN SACHS GROUP n/a ULT-AGG 10'722'544 1.18 1'716'430 31.08.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 10'012'335 1.1 (3'713'885) 31.07.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 8'745'254 0.96 (2'914'459) 30.06.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 8'667'987 0.95 (3'391'234) 30.06.2013 Investment Advisor
UBS AG n/a ULT-AGG 8'515'262 0.94 (32'898) 31.08.2013 Unclassified
NORGES BANK NORGES BANK 13F 7'531'087 0.83 - 31.12.2012 Government
MORGAN STANLEY n/a ULT-AGG 7'243'095 0.8 149'878 30.08.2013 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 6'697'150 0.74 (4'019'911) 30.06.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 6'632'228 0.73 32'609 31.07.2013 Investment Advisor
GEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 6'621'520 0.73 114'211 30.06.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 6'616'945 0.73 (702'827) 30.06.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 6'241'153 0.69 (336'309) 30.06.2013 Investment Advisor
WELLS FARGO & COMPAN n/a ULT-AGG 6'213'156 0.68 (737'891) 31.07.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co TONI SACCONAGHI outperform 5 M 600 12 month 27.09.2013
Monness, Crespi, Hardt & Co JEFFREY FIDACARO buy 5 M 550 Not Provided 27.09.2013
Jefferies PETER J MISEK hold 3 M 425 12 month 26.09.2013
Hamburger Sparkasse MARCO GUENTHER hold 3 M 482 12 month 26.09.2013
Piper Jaffray EUGENE E MUNSTER overweight 5 M 640 12 month 26.09.2013
Evercore Partners ROBERT CIHRA overweight 5 M 600 12 month 25.09.2013
Wedge Partners BRIAN BLAIR no rating system #N/A N/A M #N/A N/A Not Provided 25.09.2013
Societe Generale ANDY PERKINS hold 3 M 500 12 month 24.09.2013
Morgan Stanley KATHRYN HUBERTY Overwt/In-Line 5 M 540 12 month 24.09.2013
Robert W. Baird & Co WILLIAM V POWER neutral 3 M 525 12 month 24.09.2013
Avondale Partners LLC JOHN F BRIGHT market outperform 4 M 600 12 month 24.09.2013
Wells Fargo Securities, LLC MAYNARD UM outperform 5 M #N/A N/A Not Provided 24.09.2013
Susquehanna Financial Group CHRISTOPHER CASO Positive 4 U 625 12 month 24.09.2013
Barclays BENJAMIN A REITZES overweight 5 M 540 Not Provided 24.09.2013
EVA Dimensions ANDREW S ZAMFOTIS hold 3 D #N/A N/A Not Provided 24.09.2013
BMO Capital Markets KEITH F BACHMAN outperform 5 M 480 Not Provided 23.09.2013
Deutsche Bank CHRISTOPHER WHITMORE buy 5 M 575 12 month 23.09.2013
Goldman Sachs WILLIAM C SHOPE JR Buy/Cautious 5 M 560 12 month 23.09.2013
RBC Capital Markets AMIT DARYANANI outperform 5 M 550 12 month 23.09.2013
Credit Suisse KULBINDER GARCHA neutral 3 M 525 Not Provided 23.09.2013
Janney Montgomery Scott LLC WILLIAM CHOI buy 5 M 500 12 month 23.09.2013
Pacific Crest Securities ANDY HARGREAVES sector perform 3 M #N/A N/A Not Provided 23.09.2013
William Blair & Co ANIL K DORADLA outperform 5 M #N/A N/A Not Provided 23.09.2013
Raymond James TAVIS C MCCOURT strong buy 5 M 675 12 month 23.09.2013
Cantor Fitzgerald BRIAN J WHITE buy 5 M 777 12 month 23.09.2013
Canaccord Genuity Corp T MICHAEL WALKLEY buy 5 M 560 Not Provided 23.09.2013
Oppenheimer & Co ITTAI KIDRON outperform 5 M 540 18 month 23.09.2013
Mizuho Securities USA Inc ABHEY R LAMBA buy 5 M 520 12 month 23.09.2013
ISI Group BRIAN MARSHALL strong buy 5 M 600 12 month 23.09.2013
Nomura STUART JEFFREY neutral 3 M 480 12 month 23.09.2013
Cowen and Company TIMOTHY M ARCURI outperform 5 M 550 12 month 23.09.2013
JMP Securities ALEX GAUNA market perform 3 M #N/A N/A Not Provided 23.09.2013
S&P Capital IQ SCOTT H KESSLER buy 5 M 590 12 month 23.09.2013
Lazard Capital Markets EDWARD PARKER buy 5 M 570 12 month 23.09.2013
Cross Research SHANNON S CROSS buy 5 M 585 12 month 23.09.2013
BTIG LLC WALTER P PIECYK JR buy 5 M 540 12 month 23.09.2013
FBN Securities SHEBLY SEYRAFI outperform 5 M 625 12 month 23.09.2013
Edward Jones WILLIAM C KREHER hold 3 M #N/A N/A Not Provided 19.09.2013
Stifel AARON C RAKERS buy 5 M 540 12 month 16.09.2013
Independent Research GmbH MARKUS FRIEBEL buy 5 M 590 12 month 12.09.2013
Exane BNP Paribas ALEXANDER PETERC outperform 5 M 570 Not Provided 12.09.2013
Calamatta Cuschieri TEAM COVERAGE hold 3 M 490 12 month 12.09.2013
Creative Global Investments CARLO R BESENIUS sell 1 M #N/A N/A Not Provided 12.09.2013
Holdings By:
Apple Inc
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
10. 27.09.2013
AbbVie Inc. researches and develops pharmaceutical products. The Company
produces pharmaceutical drugs for specialty therapeutic areas such as
immunology, chronic kidney disease, Hepatitis C, women's health, oncology, and
neuroscience. AbbVie also offers treatments for diseases including Multiple
Sclerosis, Parkinson's, and Alzheimer's disease.
Latest Fiscal Year: 12/2012
LTM as of: 06/yy
52-Week High (18.09.2013) 48.41
52-Week Low (17.12.2012) 32.51
Daily Volume
44.19
52-Week High % Change -8.76% Dividend Yield -
52-Week Low % Change 35.93% Beta -
% 52 Week Price Range High/Low 78.55% Equity Float 1'584.68
Shares Out 30.06.2013 1'585.4 Short Int 11.56
70'060.09 1 Yr Total Return -
Total Debt 17'911.00 YTD Return 33.31%
Preferred Stock 0.0 Adjusted BETA -
Minority Interest 0.0 Analyst Recs 15
Cash and Equivalents 7'976.00 Consensus Rating 3.933
Enterprise Value 79'285.09
Average Volume 5 Day 2'134'711
ABBV UN EQUITY YTD Change - Average Volume 30 Day 1'304'774
ABBV UN EQUITY YTD % CHANGE - Average Volume 3 Month 1'201'625
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 06/yy 06/yy 12/13 Y 12/14 Y 09/13 Q3 12/13 Q4
- 14'214.2 15'637.7 17'444.0 18'380.0 0.0 9'021.0 18'598.4 19'037.7 4'544.2 5'133.2
- - - - 3.47x #DIV/0! 16.60x 4.29x 4.07x - -
- 5'799.3 6'214.3 5'565.4 7'255.0 0.0 3'291.0 7'459.3 7'547.3 1'868.5 2'020.0
- - - - 8.80x 0.00x 0.00x 10.65x 10.53x 10.61x 10.61x
- 4'636.5 4'177.9 3'433.1 5'275.0 0.0 2'036.0 5'066.7 5'176.6 1'254.2 1'399.6
- - - - 9.26x 0.00x 0.00x 14.10x 13.70x 14.12x 14.03x
EBITDA 7'255.00 Long-Term Rating Date 26.10.2012
EBIT 6'105.00 Long-Term Rating A
Operating Margin 33.22% Long-Term Outlook POS
Pretax Margin 31.15% Short-Term Rating Date 26.10.2012
Return on Assets - Short-Term Rating A-1
Return on Common Equity -
Return on Capital - EBITDA/Interest Exp. 86.37
Asset Turnover - (EBITDA-Capex)/Interest Exp. 82.40
Net Debt/EBITDA -
Gross Margin 75.5% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 532.6%
Net Income Margin 28.7% Total Debt/Capital 84.2%
Asset Turnover -
Current Ratio 2.27 Net Fixed Asset Turnover -
Quick Ratio 1.71 Accounts receivable turnover-days -
Debt to Assets 66.32% Inventory Days -
Tot Debt to Common Equity 532.59% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -260.37
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
AbbVie Inc
Price/Volume
Valuation Analysis
290'621.00
Current Price (9/dd/yy) Market Data
0
10
20
30
40
50
60
d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13
.0 M
2.0 M
4.0 M
6.0 M
8.0 M
10.0 M
12.0 M
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
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.00
0.20
0.40
0.60
0.80
1.00
1.20
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
11. 27.09.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL GROUP COMPAN n/a ULT-AGG 133'184'402 8.4 1'230'924 30.06.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 82'921'627 5.23 - 25.09.2013 Investment Advisor
VANGUARD GROUP INC n/a ULT-AGG 77'519'568 4.89 3'382'252 30.06.2013 Unclassified
STATE STREET CORP n/a ULT-AGG 72'318'327 4.56 (976'417) 26.09.2013 Investment Advisor
FMR LLC n/a ULT-AGG 58'535'074 3.69 6'007'621 30.06.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 26'305'991 1.66 (77'137) 30.06.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 23'646'826 1.49 (1'032'507) 30.06.2013 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 21'835'391 1.38 2'672'971 30.06.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 18'605'668 1.17 1'517'430 30.06.2013 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 15'061'000 0.95 - 30.06.2013 Insurance Company
ALLIANZ ASSET MANAGE n/a ULT-AGG 13'084'054 0.83 10'008'996 31.08.2013 Investment Advisor
UBS AG n/a ULT-AGG 12'731'043 0.8 909'756 30.06.2013 Unclassified
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 12'040'172 0.76 (186'820) 30.06.2013 Investment Advisor
GEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 10'988'071 0.69 222'391 30.06.2013 Investment Advisor
WELLS FARGO & COMPAN n/a ULT-AGG 10'922'428 0.69 (678'095) 31.07.2013 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 10'541'028 0.66 3'152'787 30.06.2013 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU Sch-D 10'095'596 0.64 (22'700) 30.06.2013 Insurance Company
JP MORGAN n/a ULT-AGG 10'001'267 0.63 2'277'222 31.07.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 9'445'025 0.6 927'926 30.06.2013 Investment Advisor
FEDERATED INVESTORS FEDERATED INVESTORS 13F 8'842'342 0.56 503'203 30.06.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
UBS MARC GOODMAN neutral 3 M 46 12 month 25.09.2013
Morgan Stanley DAVID R RISINGER Overwt/In-Line 5 M 49 12 month 23.09.2013
Cowen and Company STEVEN R SCALA outperform 5 M 52 12 month 23.09.2013
Edward Jones JUDSON CLARK hold 3 M #N/A N/A Not Provided 20.09.2013
Goldman Sachs JAMI E RUBIN buy/attractive 5 M 54 12 month 17.09.2013
Jefferies JEFFREY HOLFORD buy 5 M 54 12 month 10.09.2013
Argus Research Corp DAVID H TOUNG buy 5 M 52 Not Provided 04.09.2013
Barclays CHARLES ANTHONY BUTLER equalweight 3 M 44 Not Provided 03.09.2013
EVA Dimensions ANDREW S ZAMFOTIS overweight 5 U #N/A N/A Not Provided 12.08.2013
Hilliard Lyons STEPHEN A O'NEIL neutral 3 M #N/A N/A Not Provided 29.07.2013
JPMorgan CHRISTOPHER T SCHOTT neutral 3 M 46 15 month 29.07.2013
Spin-Off Research TEAM COVERAGE hold 3 M 48 12 month 29.07.2013
BMO Capital Markets ALEX ARFAEI market perform 3 M 48 Not Provided 26.07.2013
Atlantic Equities LLP RICHARD J PURKISS neutral 3 M 44 12 month 31.05.2013
Holdings By:
AbbVie Inc
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
12. 27.09.2013
Abbott Laboratories discovers, develops, manufactures, and sells a broad and
diversified line of health care products and services. The Company's products
include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott
markets its products worldwide through affiliates and distributors.
Latest Fiscal Year: 12/2012
LTM as of: 06/yy
52-Week High (22.05.2013) 38.77
52-Week Low (19.11.2012) 29.98
Daily Volume
33.28
52-Week High % Change -14.19% Dividend Yield 3.91
52-Week Low % Change 11.02% Beta 0.76
% 52 Week Price Range High/Low 41.89% Equity Float 1'548.97
Shares Out 30.06.2013 1'554.1 Short Int 11.39
51'721.29 1 Yr Total Return 2.28%
Total Debt 20'475.96 YTD Return 7.46%
Preferred Stock 0.0 Adjusted BETA 0.759
Minority Interest 92.3 Analyst Recs 26
Cash and Equivalents 15'173.98 Consensus Rating 3.846
Enterprise Value 50'353.82
Average Volume 5 Day 2'734'103
ABT UN EQUITY YTD Change - Average Volume 30 Day 2'048'684
ABT UN EQUITY YTD % CHANGE - Average Volume 3 Month 2'023'911
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 06/yy 06/yy 12/13 Y 12/14 Y 09/13 Q3 12/13 Q4
29'527.6 30'764.7 35'166.7 38'851.3 21'494.0 30'790.6 21'720.9 22'104.3 23'299.4 5'435.1 5'792.0
3.02x 2.94x 2.49x 2.46x 5.06x 12.91x 4.95x 2.43x 2.25x 9.96x 9.25x
8'315.9 8'495.3 9'025.1 9'468.3 - 7'071.8 2'098.9 5'032.1 5'511.0 1'062.7 1'238.0
10.73x 10.63x 9.71x 10.11x - 15.52x 0.00x 10.01x 9.14x 11.77x 11.49x
4'880.7 5'745.8 4'626.2 4'728.4 579.0 4'888.9 837.7 3'174.9 3'515.7 813.2 958.8
16.08x 13.83x 11.61x 12.57x 37.64x 19.79x 22.11x 16.58x 14.92x 15.68x 15.34x
EBITDA - Long-Term Rating Date 26.10.2012
EBIT 1'894.00 Long-Term Rating A+
Operating Margin 8.81% Long-Term Outlook STABLE
Pretax Margin 1.42% Short-Term Rating Date 26.10.2012
Return on Assets 1.60% Short-Term Rating A-1+
Return on Common Equity 3.58%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.41% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin 54.3% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin 9.5% Total Debt/Equity 76.6%
Net Income Margin 2.7% Total Debt/Capital 43.3%
Asset Turnover 0.41
Current Ratio 2.36 Net Fixed Asset Turnover 3.19
Quick Ratio 1.72 Accounts receivable turnover-days 89.96
Debt to Assets 30.45% Inventory Days 113.21
Tot Debt to Common Equity 76.63% Accounts Payable Turnover Day 50.43
Accounts Receivable Turnover 4.06 Cash Conversion Cycle 199.80
Inventory Turnover 3.22
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
Abbott Laboratories
Price/Volume
Valuation Analysis
753'502.00
Current Price (9/dd/yy) Market Data
0
5
10
15
20
25
30
35
40
45
s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13
.0 M
2.0 M
4.0 M
6.0 M
8.0 M
10.0 M
12.0 M
14.0 M
16.0 M
18.0 M
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
45'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 01.07.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
13. 27.09.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 101'171'878 6.51 3'604'868 25.09.2013 Investment Advisor
VANGUARD GROUP INC n/a ULT-AGG 93'136'079 5.99 1'329'436 30.06.2013 Unclassified
STATE STREET CORP n/a ULT-AGG 67'765'923 4.36 586'590 26.09.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 29'661'490 1.91 (254'246) 30.06.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 25'577'074 1.65 105'320 30.06.2013 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 18'950'985 1.22 5'526'254 30.06.2013 Investment Advisor
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 17'586'829 1.13 3'101'394 30.06.2013 Investment Advisor
WELLS FARGO & COMPAN n/a ULT-AGG 16'643'116 1.07 217'295 31.07.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 15'536'052 1 13'591 30.06.2013 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 15'198'300 0.98 137'300 30.06.2013 Insurance Company
MONTAG & CALDWELL IN MONTAG & CALDWELL IN 13F 14'925'658 0.96 1'213'981 30.06.2013 Investment Advisor
GOLDMAN SACHS GROUP n/a ULT-AGG 14'885'546 0.96 (353'589) 30.06.2013 Investment Advisor
FMR LLC n/a ULT-AGG 14'775'648 0.95 (6'434'696) 30.06.2013 Investment Advisor
SOUTHEASTERN ASSET M SOUTHEASTERN ASSET M 13F 14'418'305 0.93 (136'373) 30.06.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 14'167'372 0.91 (1'736'342) 30.06.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 13'609'140 0.88 (9'359'000) 30.06.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 12'625'176 0.81 - 31.12.2012 Government
BANK OF AMERICA CORP BANK OF AMERICA 13F 12'126'007 0.78 (268'617) 30.06.2013 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 11'825'547 0.76 141'800 30.06.2013 Investment Advisor
UBS AG n/a ULT-AGG 11'645'890 0.75 (2'469'877) 30.06.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan MICHAEL N WEINSTEIN neutral 3 M 36 3 month 27.09.2013
Sanford C. Bernstein & Co DERRICK SUNG market perform 3 M 36 12 month 25.09.2013
Morgan Stanley STEVE BEUCHAW Equalwt/In-Line 3 M #N/A N/A Not Provided 24.09.2013
Wells Fargo Securities, LLC LAWRENCE BIEGELSEN outperform 5 M #N/A N/A Not Provided 24.09.2013
BMO Capital Markets JOANNE K WUENSCH outperform 5 M 40 Not Provided 23.09.2013
RBC Capital Markets GLENN J NOVARRO outperform 5 M 42 12 month 16.09.2013
Leerink Swann & Co DANIELLE ANTALFFY market perform 3 M 37 12 month 16.09.2013
Edward Jones JEFF WINDAU buy 5 M #N/A N/A Not Provided 13.09.2013
Jefferies JEFFREY HOLFORD buy 5 M 44 12 month 10.09.2013
Stifel FREDERICK A WISE buy 5 M 44 12 month 09.09.2013
Goldman Sachs DAVID H ROMAN Buy/Neutral 5 M 41 12 month 30.08.2013
Barclays MATTHEW TAYLOR equalweight 3 M 37 Not Provided 15.08.2013
Deutsche Bank KRISTEN M STEWART hold 3 M 35 12 month 12.08.2013
Cowen and Company JOSHUA JENNINGS outperform 5 M 41 12 month 06.08.2013
William Blair & Co BENJAMIN C ANDREW outperform 5 M #N/A N/A Not Provided 05.08.2013
Argus Research Corp DAVID H TOUNG hold 3 M #N/A N/A Not Provided 19.07.2013
Ameriprise Advisor Services, Inc E EUGENE ROBINSON buy 5 M #N/A N/A Not Provided 19.07.2013
Spin-Off Research TEAM COVERAGE hold 3 M 40 12 month 18.07.2013
Credit Suisse BRUCE NUDELL neutral 3 M 40 Not Provided 17.07.2013
Hilliard Lyons STEPHEN A O'NEIL long-term buy 5 M 40 12 month 17.07.2013
Raymond James JAYSON BEDFORD market perform 3 M #N/A N/A Not Provided 17.07.2013
S&P Capital IQ JEFFREY LOO hold 3 M 40 12 month 17.07.2013
Gabelli & Co JENNIE TSAI buy 5 M #N/A N/A Not Provided 17.07.2013
Atlantic Equities LLP STEPHAN B GASTEYGER neutral 3 M 36 12 month 17.07.2013
First Global Stockbroking KAVITA THOMAS long-term outperform 5 M #N/A N/A Not Provided 26.04.2012
Holdings By:
Abbott Laboratories
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
14. 27.09.2013
Accenture PLC provides management and technology consulting services and
solutions. The Company delivers a range of specialized capabilities and
solutions to clients across all industries on a worldwide basis. Accenture's
network of businesses provides consulting, technology, outsourcing, and
alliances.
Latest Fiscal Year: 08/2013
LTM as of: 08/yy
52-Week High (22.05.2013) 84.22
52-Week Low (15.11.2012) 64.30
Daily Volume
73.51
52-Week High % Change -12.81% Dividend Yield 2.20
52-Week Low % Change 14.32% Beta 1.06
% 52 Week Price Range High/Low 58.08% Equity Float 642.37
Shares Out 14.06.2013 644.8 Short Int 9.48
50'505.52 1 Yr Total Return 14.94%
Total Debt 25.60 YTD Return 11.70%
Preferred Stock 0.0 Adjusted BETA 1.056
Minority Interest 467.6 Analyst Recs 29
Cash and Equivalents 5'634.41 Consensus Rating 4.000
Enterprise Value 45'364.35
Average Volume 5 Day 1'025'742
ACN UN EQUITY YTD Change - Average Volume 30 Day 765'111
ACN UN EQUITY YTD % CHANGE - Average Volume 3 Month 873'872
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.08.2009 31.08.2010 31.08.2011 31.08.2012 31.08.2013 08/yy 08/yy 08/14 Y 08/15 Y 11/13 Q1 02/14 Q2
23'171.0 23'094.1 27'352.9 29'778.0 30'394.3 29'778.0 30'394.3 29'528.0 31'300.9 7'267.2 7'285.6
0.85x 0.90x 1.19x 1.19x 1.44x 4.74x 5.94x 1.49x 1.39x 6.33x 6.18x
3'391.7 3'399.1 3'985.2 4'466.8 4'659.7 4'466.8 4'659.7 4'847.2 5'143.6 1'208.8 1'122.7
5.79x 6.14x 8.16x 7.95x 9.41x 7.95x 9.41x 9.36x 8.82x 9.37x 9.19x
1'590.0 1'780.7 2'277.7 2'553.5 3'281.9 2'553.5 3'281.9 3'081.9 3'311.6 762.3 716.0
12.48x 13.72x 15.75x 16.03x 15.43x 16.03x 16.15x 16.38x 14.96x 16.37x 16.00x
EBITDA 4'659.67 Long-Term Rating Date 22.01.2002
EBIT 4'066.64 Long-Term Rating A+
Operating Margin 13.38% Long-Term Outlook STABLE
Pretax Margin 14.28% Short-Term Rating Date -
Return on Assets 19.57% Short-Term Rating -
Return on Common Equity 72.08%
Return on Capital 70.77% EBITDA/Interest Exp. 332.00
Asset Turnover 1.81% (EBITDA-Capex)/Interest Exp. 305.67
Net Debt/EBITDA -1.20
Gross Margin 30.9% Total Debt/EBITDA 0.01
EBITDA Margin 15.3%
EBIT Margin 13.4% Total Debt/Equity 0.5%
Net Income Margin 10.8% Total Debt/Capital 0.5%
Asset Turnover 1.81
Current Ratio 1.45 Net Fixed Asset Turnover 38.99
Quick Ratio 1.10 Accounts receivable turnover-days 38.51
Debt to Assets 0.15% Inventory Days 12.16
Tot Debt to Common Equity 0.52% Accounts Payable Turnover Day 17.36
Accounts Receivable Turnover 9.48 Cash Conversion Cycle 33.31
Inventory Turnover 30.02
Fiscal Year Ended
Accenture PLC
Price/Volume
Valuation Analysis
603'072.00
Current Price (9/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
0
10
20
30
40
50
60
70
80
90
s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13
.0 M
1.0 M
2.0 M
3.0 M
4.0 M
5.0 M
6.0 M
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
16.00
18.00
03.09.2010 03.03.2011 03.09.2011 03.03.2012 03.09.2012 03.03.2013 03.09.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
15. 27.09.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SUN LIFE FINANCIAL I n/a ULT-AGG 42'935'093 6.66 672'205 30.06.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 38'237'100 5.93 4'584'374 31.07.2013 Investment Advisor
VANGUARD GROUP INC n/a ULT-AGG 31'356'535 4.86 1'282'147 30.06.2013 Unclassified
BLACKROCK n/a ULT-AGG 30'588'438 4.74 (603'991) 25.09.2013 Investment Advisor
FMR LLC n/a ULT-AGG 27'100'933 4.2 (1'937'434) 30.06.2013 Investment Advisor
STATE STREET CORP n/a ULT-AGG 25'652'092 3.98 620'208 26.09.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 17'126'366 2.66 (2'565'461) 30.06.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 15'866'546 2.46 (536'076) 30.06.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 14'524'541 2.25 (2'590'111) 30.06.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 13'235'714 2.05 (725'400) 30.06.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 11'220'676 1.74 161'906 30.06.2013 Investment Advisor
THORNBURG INVESTMENT THORNBURG INVESTMENT 13F 9'884'643 1.53 (1'582'517) 30.06.2013 Investment Advisor
FIDUCIARY MANAGEMENT FIDUCIARY MANAGEMENT 13F 8'743'138 1.36 178'141 30.06.2013 Investment Advisor
LANSDOWNE PARTNERS L LANSDOWNE PARTNERS L 13F 8'091'687 1.25 (1'017'039) 30.06.2013 Hedge Fund Manager
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 7'835'245 1.22 414'855 30.06.2013 Investment Advisor
WELLS FARGO & COMPAN n/a ULT-AGG 7'570'198 1.17 (210'985) 31.07.2013 Investment Advisor
BROWN ADVISORY INC n/a ULT-AGG 6'891'793 1.07 211'548 30.06.2013 Investment Advisor
LONGVIEW PARTNERS (G LONGVIEW PARTNERS (G 13F 6'242'350 0.97 (1'426) 30.06.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 5'880'025 0.91 1'251'917 30.06.2013 Investment Advisor
MARSICO CAPITAL MANA MARSICO CAPITAL MANA 13F 5'767'422 0.89 1'380'363 30.06.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets KEITH F BACHMAN market perform 3 M 77 12 month 27.09.2013
Societe Generale RICHARD NGUYEN sell 1 M 70 12 month 27.09.2013
Morgan Stanley KATHRYN HUBERTY Overwt/In-Line 5 M 86 12 month 27.09.2013
JPMorgan TIEN-TSIN HUANG overweight 5 M 83 3 month 27.09.2013
Janney Montgomery Scott LLC JOSEPH D FORESI buy 5 M 82 12 month 27.09.2013
Stifel DAVID M GROSSMAN buy 5 M 86 12 month 27.09.2013
Cowen and Company MOSHE KATRI outperform 5 M 92 12 month 27.09.2013
Susquehanna Financial Group JAMES E FRIEDMAN Positive 4 M 85 12 month 27.09.2013
Atlantic Equities LLP CHRISTOPHER HICKEY overweight 5 M 85 12 month 27.09.2013
Deutsche Bank BRYAN KEANE buy 5 M 82 12 month 26.09.2013
Credit Suisse GEORGE MIHALOS neutral 3 M 75 Not Provided 26.09.2013
Jefferies JASON KUPFERBERG hold 3 M 71 12 month 26.09.2013
Raymond James BRIAN GESUALE market perform 3 M #N/A N/A Not Provided 26.09.2013
Evercore Partners DAVID M TOGUT overweight 5 M 85 12 month 26.09.2013
Wells Fargo Securities, LLC EDWARD S CASO JR outperform 5 M #N/A N/A Not Provided 26.09.2013
Sanford C. Bernstein & Co RODERICK BOURGEOIS outperform 5 M 88 12 month 25.09.2013
Barclays DARRIN D PELLER equalweight 3 M 80 Not Provided 24.09.2013
UBS STEVEN M MILUNOVICH neutral 3 M 80 12 month 23.09.2013
Robert W. Baird & Co DAVID J KONING outperform 5 M 86 12 month 23.09.2013
Edward Jones JOSH OLSON hold 3 M #N/A N/A Not Provided 05.09.2013
Argus Research Corp JAMES KELLEHER hold 3 D #N/A N/A Not Provided 02.07.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 U #N/A N/A Not Provided 01.07.2013
Goldman Sachs JULIO C QUINTEROS JR Buy/Neutral 5 M 85 12 month 28.06.2013
BNP Paribas Equity Research ARVIND RAMNANI hold 3 M 75 12 month 28.06.2013
Berenberg Bank DAUD KHAN hold 3 M 69 Not Provided 28.06.2013
S&P Capital IQ DYLAN CATHERS hold 3 D 85 12 month 30.05.2013
Holdings By:
Accenture PLC
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
16. 27.09.2013
American Electric Power Company, Inc.(AEP)is a public utility holding company.
The Company provides electric service, consisting of generation, transmission
and distribution, on an integrated basis to their retail customers. AEP serves
portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan,
Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
Latest Fiscal Year: 12/2012
LTM as of: 06/yy
52-Week High (01.05.2013) 51.59
52-Week Low (21.11.2012) 40.57
Daily Volume
43.46
52-Week High % Change -15.78% Dividend Yield 4.37
52-Week Low % Change 7.12% Beta 0.75
% 52 Week Price Range High/Low 27.86% Equity Float 486.67
Shares Out 25.07.2013 486.8 Short Int 5.52
21'155.14 1 Yr Total Return 3.44%
Total Debt 18'738.00 YTD Return 5.03%
Preferred Stock 0.0 Adjusted BETA 0.751
Minority Interest 0.0 Analyst Recs 24
Cash and Equivalents 603.00 Consensus Rating 4.000
Enterprise Value 39'896.14
Average Volume 5 Day 907'655
AEP UN EQUITY YTD Change - Average Volume 30 Day 829'220
AEP UN EQUITY YTD % CHANGE - Average Volume 3 Month 816'807
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 06/yy 06/yy 12/13 Y 12/14 Y 09/13 Q3 12/13 Q4
14'440.0 13'489.0 14'427.0 15'116.0 14'945.0 14'953.0 15'177.0 15'846.9 16'104.6 4'576.3 3'709.7
2.18x 2.48x 2.41x 2.49x 2.60x 9.82x 10.58x 2.50x 2.50x 8.65x 10.68x
4'087.0 4'431.0 4'443.0 4'713.0 4'874.0 4'717.0 4'815.0 4'776.9 4'925.9 1'431.3 886.0
7.70x 7.55x 7.83x 7.98x 7.97x 7.90x 8.42x 8.36x 8.10x 8.46x 8.43x
1'383.0 1'360.0 1'214.0 1'946.0 1'259.0 1'991.0 1'209.0 1'532.8 1'623.0 524.3 257.3
9.82x 11.71x 12.96x 12.02x 13.82x 12.66x 14.72x 13.83x 13.14x 13.39x 13.37x
EBITDA 4'874.00 Long-Term Rating Date 07.03.2003
EBIT 2'956.00 Long-Term Rating BBB
Operating Margin 19.78% Long-Term Outlook STABLE
Pretax Margin 12.49% Short-Term Rating Date 07.03.2003
Return on Assets 2.23% Short-Term Rating A-2
Return on Common Equity 7.92%
Return on Capital 5.61% EBITDA/Interest Exp. 4.93
Asset Turnover 0.28% (EBITDA-Capex)/Interest Exp. 1.67
Net Debt/EBITDA 3.89
Gross Margin 64.7% Total Debt/EBITDA 3.98
EBITDA Margin 31.7%
EBIT Margin 19.2% Total Debt/Equity 123.0%
Net Income Margin 8.4% Total Debt/Capital 55.2%
Asset Turnover 0.28
Current Ratio 0.67 Net Fixed Asset Turnover -
Quick Ratio 0.36 Accounts receivable turnover-days 21.74
Debt to Assets 34.47% Inventory Days 102.47
Tot Debt to Common Equity 122.98% Accounts Payable Turnover Day 62.31
Accounts Receivable Turnover 16.79 Cash Conversion Cycle 67.56
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
American Electric Power Co Inc
Price/Volume
Valuation Analysis
111'026.00
Current Price (9/dd/yy) Market Data
0
10
20
30
40
50
60
s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13
.0 M
.5 M
1.0 M
1.5 M
2.0 M
2.5 M
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
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 01.07.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
17. 27.09.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 39'284'046 8.07 5'624'858 25.09.2013 Investment Advisor
VANGUARD GROUP INC n/a ULT-AGG 24'799'528 5.09 956'586 30.06.2013 Unclassified
STATE STREET CORP n/a ULT-AGG 24'593'207 5.05 (24'062) 26.09.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 15'383'218 3.16 (4'880'462) 30.06.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 10'937'063 2.25 3'172'930 31.08.2013 Investment Advisor
FMR LLC n/a ULT-AGG 7'383'633 1.52 (2'448'092) 30.06.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 6'816'651 1.4 1'102'466 30.06.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 6'560'194 1.35 76'233 30.06.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 6'087'284 1.25 (571'719) 30.06.2013 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 5'712'676 1.17 882'331 30.06.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 5'475'587 1.12 149 30.06.2013 Investment Advisor
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 5'078'836 1.04 (35'050) 30.06.2013 Investment Advisor
AJO, LP AJO, LP 13F 4'895'200 1.01 1'595'400 30.06.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 4'681'895 0.96 24'465 26.09.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 4'320'946 0.89 172'717 30.06.2013 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 3'975'000 0.82 1'937'100 30.06.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 3'705'639 0.76 - 31.12.2012 Government
EATON VANCE MANAGEME EATON VANCE MANAGEME 13F 3'666'397 0.75 (763'181) 30.06.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 3'598'952 0.74 480'774 31.07.2013 Investment Advisor
ROBECO n/a ULT-AGG 3'483'118 0.72 (858'463) 30.06.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
SunTrust Robinson Humphrey ALI AGHA buy 5 M 48 12 month 23.09.2013
Sanford C. Bernstein & Co HUGH WYNNE market perform 3 M 50 12 month 23.09.2013
Wells Fargo Securities, LLC NEIL A KALTON outperform 5 U #N/A N/A Not Provided 23.09.2013
Wolfe Research STEVEN I FLEISHMAN outperform 5 M 51 12 month 23.09.2013
ISI Group GREG GORDON buy 5 M 48 12 month 19.09.2013
BGC Partners KIT KONOLIGE buy 5 M 53 12 month 16.09.2013
Macquarie ANGIE STOROZYNSKI neutral 3 M 48 12 month 03.09.2013
RBC Capital Markets SHELBY G TUCKER sector perform 3 M 49 12 month 30.08.2013
UBS JULIEN DUMOULIN-SMITH neutral 3 M 45 12 month 22.08.2013
Edward Jones ANDREW B SMITH hold 3 M #N/A N/A Not Provided 21.08.2013
BMO Capital Markets MICHAEL S WORMS market perform 3 M 48 Not Provided 20.08.2013
Goldman Sachs MICHAEL J LAPIDES neutral/neutral 3 M 44 12 month 16.08.2013
Morgan Stanley STEPHEN C BYRD Equalwt/In-Line 3 M 47 12 month 15.08.2013
Credit Suisse DANIEL EGGERS outperform 5 M 53 Not Provided 01.08.2013
Jefferies PAUL B FREMONT buy 5 M 53 12 month 01.08.2013
Argus Research Corp MICHAEL BURKE buy 5 M 52 12 month 31.07.2013
Deutsche Bank JONATHAN ARNOLD hold 3 M 49 12 month 26.07.2013
JPMorgan CHRISTOPHER TURNURE neutral 3 M 51 15 month 26.07.2013
Hilliard Lyons DAVID B BURKS buy 5 M 51 12 month 25.07.2013
Barclays DANIEL F FORD overweight 5 M 52 Not Provided 25.07.2013
KeyBanc Capital Markets PAUL T RIDZON buy 5 M 52 12 month 22.04.2013
EVA Dimensions AUSTIN BURKETT hold 3 D #N/A N/A Not Provided 05.03.2013
Holdings By:
American Electric Power Co Inc
All
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
18. 27.09.2013
American International Group, Inc. is an international insurance organization
serving commercial, institutional and individual customers. AIG provides
property-casualty insurance, life insurance and retirement services.
Latest Fiscal Year: 12/2012
LTM as of: 06/yy
52-Week High (18.09.2013) 50.99
52-Week Low (14.11.2012) 30.64
Daily Volume
49.14
52-Week High % Change -3.67% Dividend Yield 0.00
52-Week Low % Change 60.38% Beta 1.49
% 52 Week Price Range High/Low 92.43% Equity Float 1'474.52
Shares Out 31.07.2013 1'476.4 Short Int 21.85
72'547.88 1 Yr Total Return 48.31%
Total Debt 48'500.00 YTD Return 39.49%
Preferred Stock 0.0 Adjusted BETA 1.493
Minority Interest 1'001.0 Analyst Recs 25
Cash and Equivalents 1'151.00 Consensus Rating 4.120
Enterprise Value 114'171.88
Average Volume 5 Day 2'473'694
AIG UN EQUITY YTD Change - Average Volume 30 Day 1'848'790
AIG UN EQUITY YTD % CHANGE - Average Volume 3 Month 2'204'004
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 06/yy 06/yy 12/13 Y 12/14 Y 09/13 Q3 12/13 Q4
6'896.0 75'352.0 77'526.0 59'812.0 65'656.0 62'813.0 66'705.0 49'775.0 51'238.3 13'175.5 13'335.5
38.32x 3.38x 2.92x 2.13x 1.53x 8.20x 6.48x - - - -
- - - - - 0.0 0.0 - - - -
- - - - - 0.00x 0.00x - - - -
(99'289.0) (10'949.0) 7'786.0 20'622.0 3'438.0 23'029.0 2'835.0 6'693.9 6'210.4 1'316.3 1'367.2
- - - 33.29x 8.98x 18.11x 12.23x 11.57x 11.43x 12.55x 12.08x
EBITDA - Long-Term Rating Date 02.03.2009
EBIT - Long-Term Rating A-
Operating Margin 17.75% Long-Term Outlook NEG
Pretax Margin 14.20% Short-Term Rating Date 14.01.2011
Return on Assets 0.52% Short-Term Rating A-2
Return on Common Equity 2.80%
Return on Capital 3.11% 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 49.5%
Net Income Margin 5.2% Total Debt/Capital 32.9%
Asset Turnover 0.12
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 8.84% Inventory Days -
Tot Debt to Common Equity 49.49% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
American International Group Inc
Price/Volume
Valuation Analysis
393'484.00
Current Price (9/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
0
10
20
30
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50
60
s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13
.0 M
10.0 M
20.0 M
30.0 M
40.0 M
50.0 M
60.0 M
0.0
20'000.0
40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
5.00
10.00
15.00
20.00
25.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 01.07.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow
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