Fundamental Equity Analysis - FTSE Eurotop 100 Index Members (E100 Index)

595 views
507 views

Published on

Fundamental Equity Analysis - FTSE Eurotop 100 Index Members (E100 Index)

Published in: Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
595
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Fundamental Equity Analysis - FTSE Eurotop 100 Index Members (E100 Index)

  1. 1. This material does not constitute investment advice and should not beviewed as a current or past recommendation or a solicitation of anoffer to buy or sell any securities or to adopt any investment strategy. Fundamental Analysis & Analyst Recommendations E100 Index - FTSE Eurotop 100 Index April 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 |
  2. 2. Valuation Measures I/II Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth Market Total Minority Cash and Enterprise Est. Tot. Est. P/E Est. Est. Est. Est. S&P LT Moodys LT Capitalization (in mio Daily Common Total Debt Preferred Interest Equivalents Value Tot. Rev. - Rev. - Tr. Est. Tot. Est. Tot. Est. EBITDA - Est. EBITDA - Est. EBITDA - Est. EPS - Est. EPS - Est. EPS - P/E Ratio - Ratio - Tr. Est. P/E Est. P/E Revenue Revenue Est. EBITDA EBITDA Est. EBITDA Credit S&P LT Credit Credit Moodys LT Credit Currency USD) Volume (M) Shares (M) (USD) Stock (USD) (USD) (USD) (USD) LFY 12M Rev. - 2013 Rev. - 2014 EBITDA - LFY Tr. 12M 2013 2014 EPS - LFY Tr. 12M 2013 2014 LFY 12M Ratio - 2013 Ratio - 2014 Growth - 1Y Growth - 5Y Growth - 1Y Growth - 5Y Margin - Rating - Rating Date Rating Rating DateS&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 18.80Euro 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 19.53NIKKEI 225 JPY 2558234 186.6975 188 188 19 20 20 5.28 5.51 5.51 0.27 0.27 0.26 0.26 0.12FTSE 100 INDEX GBP 2682024 11608.24 9587 9587 1446 1647 1647 530.70 818.94 818.94 27.31 - 17.70 17.70 22.54SWISS 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 21.83S&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 24.27S&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 22.29HANG 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 3.12MSCI EM USD 7697940 1533.773 1085 1085 201 216 216 87.02 95.19 95.19 11.82 13.40 10.81 10.81 20.03NESTLE SA-REG CHF 229014 2740 3189 29 0 2 10 249.79 96847 96847 103068 109004 17714 17714 - - 3.49 3.49 3.82 4.14 21.33 21.32 19.50 18.01 10.71 -2.93 10.20 -1.53 19.19 AA 16.08.2007 - -HSBC HOLDINGS PLC GBp 193779 9945 18476 430 4 12 387 #VALUE! 127870 121335 103439 109654 - - - - 0.74 1.17 1.47 1.65 20.46 - 16.22 14.51 -16.15 - - - - A+ 29.11.2011 Aa3 21.06.2012NOVARTIS AG-REG CHF 189771 1999 2421 21 0 0 9 211.30 59449 59449 59823 62222 17533 17272 - - 4.20 4.11 5.44 6.01 18.76 18.90 14.18 12.83 -3.39 9.23 -6.50 11.07 30.48 AA- 07.04.2008 Aa3 08.02.2013ROCHE HOLDING AG-GENUSSCHEIN CHF 197900 547 863 26 0 2 15 211.36 47728 47728 50014 51848 17357 17357 - - 11.71 11.80 15.63 16.75 20.39 20.56 15.40 14.37 7.32 0.11 4.80 -0.57 38.15 AA 17.09.2012 - -VODAFONE GROUP PLC GBp 137178 53383 49646 52 0 2 13 170.49 70106 67478 66991 68359 27509 21004 - - 0.29 -0.05 0.23 0.25 - - 18.33 17.09 1.75 8.15 36.51 11.89 47.01 A- 30.05.2006 A3 03.08.2011BP PLC GBp 133414 6511 19136 74 0 2 30 246.63 567256 560136 519122 532825 30874 33312 14010 14010 0.33 0.92 1.29 1.44 17.26 31.03 12.35 11.03 0.03 7.69 -83.62 -17.29 8.98 A 24.09.2010 - -SANOFI EUR 132008 1829 1323 19 0 0 8 142.58 44621 44621 45780 48319 15812 16208 - - 5.57 4.80 7.68 8.57 26.47 22.82 16.56 14.84 5.96 6.12 -2.12 3.91 46.38 AA- 18.02.2011 A2 18.02.2011ROYAL DUTCH SHELL PLC-A SHS GBp 208579 1009 6331 57 0 2 28 346.16 705563 705563 691755 703368 78710 78710 15643 15643 6.21 6.42 6.34 6.43 11.49 11.92 11.63 11.47 -0.97 5.17 -10.34 -1.03 16.85 AA 03.09.2009 Aa1 20.07.2005GLAXOSMITHKLINE PLC GBp 112485 3295 4904 28 0 1 6 135.10 39920 39920 40677 42251 12803 12803 3385 3385 1.59 1.40 1.74 1.92 24.69 19.17 19.92 18.03 -5.27 4.88 -20.99 -0.84 48.44 A+ 18.02.2008 - -TOTAL SA EUR 112784 3771 2258 43 0 2 22 135.18 232762 232762 231214 229795 41296 40784 11081 11081 6.03 6.04 6.72 6.78 10.08 10.10 9.06 8.98 12.07 5.75 -2.23 1.32 22.37 AA- 12.04.2011 Aa1 30.08.2005BRITISH AMERICAN TOBACCO PLC GBp 101852 758 2026 16 0 0 3 115.32 22942 22942 24307 25379 9278 9278 10049 10049 3.09 2.99 3.48 3.81 26.68 25.81 22.91 20.95 -2.05 12.58 -4.14 19.71 61.08 A- 09.11.2012 - -SIEMENS AG-REG EUR 95040 1373 856 26 0 1 15 109.80 99969 100447 99877 103691 12325 13216 2611 2611 7.15 7.25 7.78 9.62 18.99 19.22 17.71 14.32 8.75 0.14 -10.21 2.13 16.80 A+ 05.06.2009 - -ROYAL DUTCH SHELL PLC-B SHS GBp 208579 2012 6331 57 0 2 28 346.16 706 K 706 K 692 K 703 K 78710 78710 15643 15643 6.21 6.42 6.34 6.43 11.83 12.28 11.98 11.81 -0.97 5.17 -10.34 -1.03 16.85 AA 03.09.2009 Aa1 20.07.2005BAYER AG-REG EUR 83656 1360 827 12 0 0 3 92.70 50766 50766 53040 55707 11493 10987 3212 3212 7.13 3.78 7.52 8.31 34.18 19.80 17.17 15.54 11.30 5.53 0.54 7.91 27.63 A- 30.04.2008 A3 17.07.2006BASF SE EUR 79863 2681 918 17 0 2 2 96.18 100522 100522 102988 102391 16066 16066 4478 4478 6.39 6.78 7.62 8.21 16.37 17.38 14.56 13.53 9.09 8.38 7.84 4.76 20.41 A+ 10.05.2011 A1 17.11.2010ANHEUSER-BUSCH INBEV NV EUR 155540 1217 1602 57 0 5 18 243.01 50764 50764 57383 62292 19727 19727 - - 5.70 5.78 6.36 7.19 27.29 27.65 24.83 21.95 2.33 19.10 1.28 22.65 49.62 A 01.05.2012 A3 27.03.2012DIAGEO PLC GBp 76655 1198 2531 13 0 2 2 90.03 16254 16680 17328 18529 5779 6082 2654 2654 1.24 1.53 1.56 1.73 30.10 35.11 29.66 26.61 12.56 10.95 27.76 14.74 55.07 A- 01.09.2005 A3 17.10.2005SAP AG EUR 96938 1889 1192 7 0 0 3 100.29 20714 20714 22993 25341 6387 5841 1420 1420 3.04 3.03 4.42 5.02 33.29 33.37 22.77 20.09 17.85 12.38 9.28 14.11 36.01 - - - -NOVO NORDISK A/S-B DKK 91104 417 543 0 0 0 3 88.43 13369 13369 14353 15641 5491 5491 1325 1325 - 6.70 7.90 8.76 4.16 - 3.53 3.18 3.02 2.41 4.95 3.74 7.04 A+ 24.06.2011 - -BANCO SANTANDER SA EUR 69527 60243 10321 469 0 12 233 #VALUE! 55637 55637 56775 59544 - - - - 0.76 0.30 0.75 0.88 27.69 10.52 11.20 9.62 -56.36 12.18 - - - BBB 16.10.2012 (P)Baa2 24.10.2012RIO TINTO PLC GBp 92521 2284 1847 41 0 17 12 185.58 76978 76978 88228 93800 24018 24018 15420 15420 7.06 -2.44 9.02 10.26 - 15.16 11.86 10.42 -23.88 16.85 -60.94 13.11 47.12 A- 18.04.2011 - -LVMH MOET HENNESSY LOUIS VUI EUR 85724 1065 500 9 0 1 3 93.03 35882 35882 38632 41941 8861 9219 3606 3606 8.91 8.76 9.68 10.86 24.61 24.20 22.28 19.86 23.98 14.24 16.40 14.11 32.80 A 20.05.2011 - -UNILEVER NV-CVA EUR 122220 2388 2832 13 0 1 4 132.32 65531 65531 68321 72206 10455 10455 - - 1.94 2.02 2.16 2.35 25.50 26.49 23.82 21.92 13.35 6.82 12.42 4.97 20.37 A+ 05.10.2000 A1 11.07.2000BHP BILLITON PLC GBp 173058 2925 5298 43 0 2 8 308.87 109086 101118 102833 113273 51149 42726 24709 24709 5.50 2.76 3.86 4.59 24.24 17.00 17.29 14.57 1.03 10.20 -16.76 12.56 63.82 A+ 15.11.2010 (P)A1 15.11.2010SABMILLER PLC GBp 82615 496 1664 29 0 1 1 153.26 25242 25857 37002 39254 7784 8197 - - 2.91 4.22 3.62 4.08 27.96 35.14 32.55 28.90 15.64 0.93 15.23 7.70 47.88 BBB+ 04.08.2003 Baa1 27.10.2005ALLIANZ SE-REG EUR 61156 1705 453 37 0 3 16 85.26 122600 122598 132985 136660 - - - - 14.95 14.58 15.48 16.21 11.75 11.55 11.06 10.57 12.62 3.84 - - - AA 27.01.2012 Aa3 03.05.2004ENI SPA EUR 81481 8111 3634 31 0 4 10 106.90 162501 162501 150431 154689 31364 31364 9022 9022 0.84 3.06 2.50 2.65 9.37 10.52 11.46 10.81 20.60 7.56 -5.80 -1.34 24.64 A 17.01.2012 A3 16.07.2012ASTRAZENECA PLC GBp 60919 1083 1247 16 0 0 13 95.02 42249 42249 39798 38670 16097 17552 3583 3583 9.15 7.54 8.23 7.93 14.76 12.22 13.52 14.04 -25.26 -2.91 -29.78 -0.72 62.75 AA- 27.07.2007 A1 30.07.2007STANDARD CHARTERED PLC GBp 61739 1192 2413 171 2 1 184 #VALUE! 40640 40640 31312 34405 - - - - 3.20 3.08 3.59 3.96 18.95 18.23 16.23 14.73 15.91 6.22 - - - A+ 01.12.2011 A2 26.11.2010TELEFONICA SA EUR 60781 20155 4551 85 0 9 15 140.37 79617 79617 75980 76315 26602 26648 5844 5844 1.05 1.13 1.45 1.51 15.10 - 11.76 11.29 -0.98 2.51 9.50 -2.31 42.74 BBB 20.12.2012 Baa2 18.10.2012DAIMLER AG-REGISTERED SHARES EUR 59121 2162 1068 108 0 2 19 150.05 145936 145936 149351 158434 15498 15568 - - 7.24 7.29 5.94 7.03 9.70 9.70 11.91 10.06 9.30 22.58 -0.82 -6.62 13.62 A- 23.02.2012 A3 01.10.2007UBS AG-REG CHF 58636 6342 3747 281 0 5 70 274.07 39603 39608 27916 29031 16290 16291 - - 0.55 -0.70 0.92 1.25 - 29.92 17.47 12.83 -8.02 -10.57 -11.62 -32.87 43.15 A 29.11.2011 A2 21.06.2012BG GROUP PLC GBp 57351 2733 3402 23 0 0 7 103.42 28595 32722 30416 34615 15403 15951 4161 4161 1.95 1.55 1.99 2.36 24.86 19.01 19.34 16.31 -15.34 10.37 2.59 9.25 73.62 - - - -BNP PARIBAS EUR 62184 5738 1240 1293 9 11 178 #VALUE! 87671 124521 51201 52836 - - - - 6.99 6.81 6.40 7.32 9.39 8.93 10.00 8.75 -4.22 14.55 - - - A+ 25.10.2012 A2 21.06.2012UNILEVER PLC GBp 122245 998 2832 15 0 1 4 156.52 77517 77517 80817 85413 12655 12655 - - 2.35 2.39 2.56 2.78 30.92 31.49 28.93 26.63 15.79 8.07 8.73 6.57 24.66 A+ 05.10.2000 A1 11.07.2000BARCLAYS PLC GBp 55349 32713 12243 661 0 14 194 #VALUE! 58657 51741 44395 45545 - - - - 0.69 -0.13 0.56 0.67 - 9.48 11.69 9.75 1.61 -9.26 - - - A 29.11.2011 (P)A3 21.06.2012ABB LTD-REG CHF 52205 2742 2296 11 0 1 9 56.98 41263 41263 43679 45976 5553 5686 1479 1479 1.26 1.23 1.60 1.81 20.21 19.25 15.55 13.72 3.72 5.43 -7.27 2.61 14.45 A 08.06.2010 - -RECKITT BENCKISER GROUP PLC GBp 51516 556 734 5 0 0 1 55.12 14449 14449 15269 16004 4105 4105 - - 3.99 3.81 4.01 4.24 28.47 27.02 27.08 25.62 1.31 19.53 4.23 24.47 42.91 A+ 16.12.2003 - -BANCO BILBAO VIZCAYA ARGENTA EUR 46495 37524 5433 289 0 3 82 #VALUE! 44972 29189 29794 31392 - - - - 0.63 0.33 0.99 1.12 33.37 33.75 10.97 9.73 8.40 12.39 - - - BBB- 16.10.2012 Baa3 24.10.2012TESCO PLC GBp 45711 7554 8032 18 0 0 5 57.97 97476 98230 99944 104232 7713 7470 - - 0.57 0.53 0.48 0.50 16.25 16.29 18.01 17.04 10.20 11.24 6.22 12.48 11.49 A- 29.07.2008 Baa1 20.04.2012LOREAL EUR 92167 381 598 0 #VALUE! 0 2 90.16 28681 28681 29935 31689 5604 5604 - - 6.05 6.13 6.54 7.08 31.77 31.79 29.77 27.49 13.30 7.38 14.00 6.10 24.95 - - - -DANONE EUR 43203 978 593 12 0 0 4 51.59 26646 26646 28210 29955 4625 4625 - - 3.56 3.56 4.03 4.45 24.40 24.45 21.57 19.54 10.25 13.89 4.98 14.49 22.16 A- 25.07.2007 A3 06.11.2007NATIONAL GRID PLC GBp 41596 2242 3701 35 0 0 4 73.21 20891 20548 21787 22598 7215 7538 - - 0.77 0.96 0.81 0.83 17.84 20.87 21.27 20.69 -5.38 12.97 -2.12 11.35 55.41 A- 24.08.2007 Baa1 12.01.2007ZURICH INSURANCE GROUP AG CHF 40851 242 147 13 0 2 10 48.91 73897 73897 64482 66754 - - - - 27.78 27.76 30.10 31.81 10.92 10.92 10.07 9.53 34.59 12.40 - - - - - - -CIE FINANCIERE RICHEMON-BR A CHF 44633 717 522 1 0 0 4 33.45 9301 10237 10679 11585 2469 2812 - - 2.90 3.67 3.64 4.11 18.23 18.54 18.39 16.29 30.06 17.26 43.05 17.94 28.82 - - - -PRUDENTIAL PLC GBp 40555 3035 2557 10 0 0 8 43.22 83788 83788 87446 89651 - - - - 1.19 1.31 1.21 1.34 18.34 20.18 19.85 17.92 78.48 - - - - A+ 17.08.2010 A2 20.12.2002AXA SA EUR 41087 5052 2389 14 8 3 39 18.71 146436 146436 128390 130665 - - - - 2.33 2.26 2.52 2.69 9.70 9.41 8.72 8.18 21.24 75.98 - - - A- 18.12.2012 A2 19.03.2003SCHNEIDER ELECTRIC SA EUR 39855 1225 547 10 0 0 5 45.69 30575 30575 31092 32698 4899 4899 - - 4.54 4.33 5.27 5.87 21.17 20.18 17.40 15.60 9.15 10.14 3.84 5.78 20.46 A- 26.11.2008 A3 12.01.2009SYNGENTA AG-REG CHF 38626 181 92 4 #VALUE! 0 2 42.35 14898 14898 16074 17008 3302 3302 1099 1099 23.87 21.43 26.23 28.72 21.29 19.11 17.39 15.89 7.38 11.62 9.40 10.75 23.25 A 15.06.2007 - -AIR LIQUIDE SA EUR 37345 605 311 9 0 0 1 45.46 19569 19569 20847 22349 4842 4842 - - 6.64 6.61 7.11 7.87 23.09 23.21 21.45 19.40 7.68 6.56 8.19 8.68 31.59 A 02.07.2007 - - Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  3. 3. Valuation Measures I/II Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth Market Total Minority Cash and Enterprise Est. Tot. Est. P/E Est. Est. Est. Est. S&P LT Moodys LT Capitalization (in mio Daily Common Total Debt Preferred Interest Equivalents Value Tot. Rev. - Rev. - Tr. Est. Tot. Est. Tot. Est. EBITDA - Est. EBITDA - Est. EBITDA - Est. EPS - Est. EPS - Est. EPS - P/E Ratio - Ratio - Tr. Est. P/E Est. P/E Revenue Revenue Est. EBITDA EBITDA Est. EBITDA Credit S&P LT Credit Credit Moodys LT Credit Currency USD) Volume (M) Shares (M) (USD) Stock (USD) (USD) (USD) (USD) LFY 12M Rev. - 2013 Rev. - 2014 EBITDA - LFY Tr. 12M 2013 2014 EPS - LFY Tr. 12M 2013 2014 LFY 12M Ratio - 2013 Ratio - 2014 Growth - 1Y Growth - 5Y Growth - 1Y Growth - 5Y Margin - Rating - Rating Date Rating Rating DateS&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 18.80Euro 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 19.53NIKKEI 225 JPY 2558234 186.6975 188 188 19 20 20 5.28 5.51 5.51 0.27 0.27 0.26 0.26 0.12FTSE 100 INDEX GBP 2682024 11608.24 9587 9587 1446 1647 1647 530.70 818.94 818.94 27.31 - 17.70 17.70 22.54SWISS 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 21.83S&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 24.27S&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 22.29HANG 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 3.12MSCI EM USD 7697940 1533.773 1085 1085 201 216 216 87.02 95.19 95.19 11.82 13.40 10.81 10.81 20.03ERICSSON LM-B SHS SEK 41171 3661 3220 4 0 0 12 34.03 35026 35026 36245 37852 4880 4933 900 900 - 0.28 0.79 0.94 6.93 - 2.42 2.04 0.06 0.75 1.08 -0.02 2.17 BBB+ 15.06.2007 A3 10.06.2011XSTRATA PLC GBp 48662 2061 3003 26 0 4 3 99.78 47754 47754 51372 54842 12267 12267 6878 6878 1.90 0.60 1.88 2.36 61.17 19.46 19.64 15.63 -10.07 5.24 -45.72 -8.64 38.80 BBB+ *- 29.11.2012 - -DEUTSCHE BANK AG-REGISTERED EUR 36043 8534 929 363 0 2 227 #VALUE! 42878 60203 43189 44464 - - - - 4.06 0.87 4.93 6.39 57.02 10.18 10.04 7.75 -46.26 -7.43 - - - A+ *- 26.03.2013 A2 21.06.2012ANGLO AMERICAN PLC GBp 36005 1303 1391 25 0 9 14 75.21 43439 43439 51703 54057 11602 11602 8034 8034 3.91 -1.70 3.50 4.25 - 15.42 16.84 13.85 -8.98 20.36 -49.07 -8.82 40.34 BBB+ 18.04.2011 Baa1 23.02.2009DEUTSCHE TELEKOM AG-REG EUR 45122 12767 4319 57 0 6 8 100.27 74271 74271 73742 73470 22635 22610 5525 5525 1.28 -1.57 0.91 0.94 - 10.56 14.71 14.21 -1.05 -1.77 -15.64 1.90 38.87 BBB+ 19.05.2008 Baa1 22.12.2011GDF SUEZ EUR 45980 3045 2357 73 0 15 15 119.56 123899 123899 103673 103865 23495 23495 - - 1.70 0.91 1.74 1.82 26.74 14.28 13.95 13.39 8.96 9.13 18.51 26.38 24.21 A *- 29.01.2013 A1 03.07.2012IMPERIAL TOBACCO GROUP PLC GBp 33095 942 990 14 0 0 1 46.70 22160 22160 12241 12664 6810 6810 2282 2282 2.49 1.03 3.21 3.46 49.69 20.55 15.92 14.78 -5.11 90.21 57.87 35.89 46.42 BBB 20.05.2008 - -NORDEA BANK AB SEK 45368 2522 4023 38 0 0 8 #VALUE! 2684 2684 1606 1673 - - - - 0.12 0.12 0.13 0.14 1.74 1.74 1.64 1.47 0.71 0.23 - - - AA- 29.11.2005 Aa3 24.05.2012CREDIT SUISSE GROUP AG-REG CHF 34708 3185 1294 347 0 7 67 #VALUE! 40190 40190 27876 28844 - - - - 2.37 0.88 2.77 3.25 31.28 11.05 9.96 8.48 -10.76 31.68 - - - A 19.12.2008 (P)A2 21.06.2012VOLKSWAGEN AG-PREF EUR 88396 632 465 150 0 6 33 211.04 246011 246011 260904 274584 31185 31185 5601 5601 59.09 59.46 27.69 31.99 4.23 4.24 9.07 7.86 26.72 15.52 18.28 12.83 16.19 A- 31.08.2009 A3 17.08.2009MUENCHENER RUECKVER AG-REG EUR 33237 444 179 8 0 0 4 37.88 84137 84442 71290 73811 - - - - 22.96 22.96 20.92 21.42 10.31 10.31 11.31 11.05 10.46 9.19 - - - AA- 22.12.2006 - -E.ON SE EUR 34389 7246 1907 33 0 5 8 64.66 168658 168658 142657 145127 10780 10780 12203 12203 2.31 1.46 1.67 1.78 15.08 9.50 13.14 12.34 21.63 20.90 124.84 -6.72 8.16 A- 27.07.2012 A3 05.10.2011PERNOD-RICARD SA EUR 32720 208 263 13 0 0 1 44.69 10 K 11 K 11 K 12 K 2930 3127 - - 5.61 5.80 6.35 7.19 27.16 26.34 24.81 21.89 9.56 7.79 11.13 8.86 36.75 BBB- 03.10.2011 Baa3 08.09.2011BT GROUP PLC GBp 32360 7145 8151 16 0 0 1 45.24 29160 27348 27396 26802 9349 8882 2469 2469 0.36 0.41 0.38 0.38 15.05 16.97 16.36 16.17 -5.79 -4.81 7.80 2.85 49.05 BBB 19.07.2011 - -INDITEX EUR 79667 429 623 0 0 0 5 74.48 20360 20360 22619 25079 4995 4996 1058 1058 4.84 4.83 5.46 6.12 33.76 - 29.90 26.67 19.93 13.22 27.70 16.25 31.33 - - - -ROLLS-ROYCE HOLDINGS PLC GBp 31209 863 1872 2 0 0 4 29.40 18367 18367 22921 24220 2548 2548 1800 1800 1.41 1.86 0.99 1.08 13.47 17.76 25.34 23.15 14.08 17.11 21.12 30.05 20.95 A 13.04.2012 - -STATOIL ASA NOK 76950 2019 3180 20 0 0 14 83.79 120612 120618 109172 111813 45360 45503 10657 10657 - 3.70 2.85 2.94 1.11 - 1.45 1.40 1.59 -0.50 0.23 1.46 6.45 AA- 03.08.2007 Aa2 23.06.2005LLOYDS BANKING GROUP PLC GBp 51378 130418 70424 287 0 1 168 #VALUE! 54989 54989 27562 27462 - - - - 0.03 -0.03 0.06 0.08 - 41.55 18.68 13.00 2.65 - - - - A- 29.11.2011 A3 21.06.2012SWISS RE AG CHF 29846 452 343 21 0 0 11 40.83 34738 34738 33946 36553 - - - - 11.60 12.69 8.46 8.90 6.98 7.47 10.47 9.95 20.07 0.89 - - - - - - -CENTRICA PLC GBp 28558 5725 5199 8 0 0 1 35.19 36161 36161 36902 38476 5585 5585 5958 5958 0.39 0.37 0.42 0.47 22.40 21.13 19.81 17.83 7.40 15.93 17.70 12.24 23.33 A- 29.05.2009 A3 21.06.2006KONINKLIJKE PHILIPS ELECTRON EUR 28126 1953 915 6 0 0 5 29.06 31650 31650 31635 32711 3145 3145 752 752 0.36 0.35 2.09 2.42 107.40 77.15 17.94 15.52 12.49 1.93 137.70 -4.53 12.69 A- 11.05.2005 A3 20.04.2006GLENCORE INTERNATIONAL PLC GBp 38301 7912 7099 54 0 5 4 111.82 323873 323873 329179 346254 6949 6949 - - 0.27 0.22 0.90 1.12 56.50 45.48 13.71 11.02 22.95 25.78 6.08 -5.44 3.24 BBB 29.11.2012 - -ING GROEP NV-CVA EUR 27514 17221 3801 265 0 1 23 271.48 50184 53934 49386 54358 - - - - 0.87 0.96 1.28 1.42 9.58 8.94 7.18 6.48 -32.61 -11.84 - - - A 03.09.2009 A3 15.06.2012BAYERISCHE MOTOREN WERKE AG EUR 56219 1031 656 89 0 0 17 128.53 98121 98121 101739 106644 15340 15340 - - 9.92 9.92 9.96 10.26 11.31 11.31 11.26 10.94 14.89 8.26 3.68 -0.80 19.96 A 16.04.2012 A2 22.07.2011LINDE AG EUR 33937 228 185 13 0 1 3 45.08 19510 19510 21865 23306 4396 4396 1234 1234 8.84 8.98 10.91 12.35 26.06 26.45 21.44 18.95 13.83 6.89 14.08 10.24 28.77 A 25.05.2012 A3 28.04.2010VIVENDI EUR 26811 2579 1323 23 0 4 5 48.30 37020 37020 36818 37223 5716 8339 - - 0.37 0.18 2.28 2.42 142.03 54.41 11.35 10.68 0.80 8.91 -63.07 -8.44 28.76 BBB 26.10.2012 Baa2 13.09.2005VINCI SA EUR 25817 1351 536 26 0 1 8 44.22 50030 49328 49722 50734 7032 6963 - - 4.49 4.57 4.49 4.75 12.45 12.55 12.67 11.97 5.21 5.43 1.45 4.75 18.02 BBB+ 29.03.2007 Baa1 23.07.2002ENEL SPA EUR 30256 29170 9403 85 0 21 13 123.51 105591 105591 102703 103573 20621 20621 - - 0.11 0.11 0.43 0.45 35.75 - 9.63 9.17 8.44 11.67 -7.78 13.72 24.93 BBB+ 08.03.2012 Baa2 05.11.2012HEINEKEN NV EUR 43641 401 576 17 0 1 1 60.75 23472 23472 26187 27416 4432 4497 5843 5843 6.31 6.55 4.18 4.71 14.77 14.80 23.17 20.55 9.40 14.80 3.32 14.85 24.46 BBB+ 02.10.2012 Baa1 07.03.2012RWE AG EUR 22458 1822 615 25 0 2 7 43.25 64825 #VALUE! 68265 69250 11562 - - - 2.49 - 4.99 4.54 - - 9.39 10.33 4.20 5.24 11.85 3.91 - BBB+ 27.07.2012 A3 19.07.2011IBERDROLA SA EUR 29273 16726 6053 42 0 0 8 63.28 43669 44496 42630 44012 9165 9813 2923 2923 0.59 0.60 0.51 0.54 9.91 9.86 11.55 11.03 10.30 10.06 3.23 10.27 28.16 BBB 28.11.2012 (P)Baa1 05.11.2012HENNES & MAURITZ AB-B SHS SEK 58841 1034 1655 0 0 0 3 55.93 18575 18661 19818 21931 3915 3872 1226 1226 - 1.54 1.65 1.85 3.55 - 3.31 2.95 1.51 1.20 1.18 0.73 3.19 - - - -EADS NV EUR 41946 2481 822 6 0 0 14 33.93 72114 72114 74984 79977 5014 5091 1376 1376 1.85 1.91 3.43 4.60 33.84 33.82 18.83 14.04 19.11 14.71 30.39 29.50 9.01 A- 22.09.2010 (P)A2 06.12.2012ASML HOLDING NV EUR 26706 818 407 1 0 0 3 24.23 6041 6041 6205 7753 1715 1715 178 178 3.42 3.45 2.92 4.52 24.10 24.19 28.44 18.38 -20.78 23.97 -32.73 9.11 36.25 - - Baa2 11.11.2010VOLVO AB-B SHS SEK 30859 4467 2028 20 0 0 4 46.88 46692 46692 45484 48770 4981 4981 836 836 - 0.84 0.96 1.38 2.66 - 2.31 1.61 -0.33 -0.23 -3.68 -0.13 1.64 BBB 15.04.2011 - -FRANCE TELECOM SA EUR 26665 8343 2627 50 0 3 11 68.58 55561 55561 53748 52963 15799 15799 3965 3965 0.94 0.40 1.40 1.37 32.47 13.67 9.18 9.41 -4.97 -4.56 -22.49 -10.80 36.31 A- *- 27.02.2013 A3 23.06.2005COMPAGNIE DE SAINT-GOBAIN EUR 19470 1902 531 16 0 1 5 30.84 55156 55156 54911 56787 3367 3367 - - 1.27 1.86 3.12 3.76 25.15 36.85 15.00 12.43 3.28 0.25 -60.66 -18.44 7.79 BBB 24.07.2009 Baa2 31.07.2009ATLAS COPCO AB-A SHS SEK 33319 2077 1213 3 0 0 2 34.65 13921 13921 13726 14320 3366 3366 775 775 - 1.76 1.74 1.87 2.45 - 2.48 2.31 1.77 0.98 1.40 1.45 3.72 A 24.02.2011 A2 15.11.2012SWATCH GROUP AG/THE-BR CHF 29909 96 54 0 0 0 2 28.01 8178 8178 9333 10275 2355 2355 - - 31.07 31.09 34.63 38.69 19.22 19.23 17.25 15.44 16.00 6.94 22.88 9.79 30.21 - - - -TELENOR ASA NOK 34046 1410 1560 9 0 1 2 41.63 17385 17385 17612 18137 6787 6787 1442 1442 0.76 1.04 1.72 1.94 3.59 - 2.17 1.92 0.56 0.56 2.67 1.11 6.67 A- 12.04.2010 A3 27.01.2009INTESA SANPAOLO EUR 23079 169232 16434 361 0 1 51 #VALUE! 22744 22580 21457 21995 - - - - 0.12 0.16 0.14 0.19 10.97 15.68 12.62 9.30 -37.66 -15.07 - - - BBB+ 10.02.2012 Baa2 16.07.2012HENKEL AG & CO KGAA VORZUG EUR 36989 321 434 5 0 0 2 40.56 21080 21080 21812 22880 3552 3394 - - 4.68 4.43 5.14 5.67 27.25 27.25 23.47 21.29 7.40 6.21 17.66 12.24 20.56 A 18.05.2011 A2 01.06.2011TELIASONERA AB SEK 30735 4317 4330 14 0 1 5 40.84 16130 16130 15971 16127 5376 5376 1316 1316 - 0.70 0.64 0.67 1.55 - 1.70 1.63 0.08 0.28 -0.79 0.37 5.13 A- 28.10.2005 A3 30.10.2007ARCELORMITTAL EUR 21657 7524 1549 33 0 4 6 59.36 107524 107524 110480 115362 8634 9129 1846 1846 0.01 -3.08 0.87 1.83 - 105.76 24.49 11.56 -13.26 -4.73 -40.45 -24.27 10.84 BB+ 02.08.2012 Ba1 06.11.2012FRESENIUS MEDICAL CARE AG & EUR 20478 487 307 11 0 1 1 28.60 17620 17620 18778 19850 3602 3602 935 935 4.94 4.97 5.01 5.44 21.97 22.08 21.76 20.08 12.49 10.02 9.18 9.88 26.10 BB+ 19.09.2012 - -AP MOELLER-MAERSK A/S-B DKK 33590 1 4 19 0 2 3 52.37 58608 58608 57584 62566 12490 12490 3037 3037 849.50 849.94 750.85 935.29 1.57 1.57 1.78 1.43 1.04 0.69 -1.22 0.40 3.65 - - - -CHRISTIAN DIOR EUR 29712 68 179 11 0 20 3 58.29 37412 #VALUE! 38336 42022 8001 - - - 9.69 - 11.91 14.21 - - 17.52 14.69 24.23 - - 13.59 - - - - -HENKEL AG & CO KGAA EUR 36989 56 434 5 0 0 2 40.56 21080 21080 21812 22880 3552 3394 - - 4.68 4.43 5.14 5.67 22.39 22.39 19.28 17.49 7.40 6.21 17.66 12.24 20.56 A 18.05.2011 A2 01.06.2011ATLAS COPCO AB-B SHS SEK 33319 358 1213 3 0 0 2 34.65 13921 13921 13726 14320 3366 3366 775 775 - 1.76 1.74 1.87 2.18 - 2.21 2.06 1.77 0.98 1.40 1.45 3.72 A 24.02.2011 A2 15.11.2012TENARIS SA EUR 23605 776 1181 2 0 0 2 30.71 13833 13833 14480 15275 3734 3770 912 912 1.84 1.84 2.13 2.14 17.72 17.74 15.34 15.25 11.03 8.28 24.77 -4.31 34.80 - - - - Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  4. 4. Valuation Measures II/II Price to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Price to Earnings Ratio Estimated Dividend Yield Target 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 SpotS&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%NESTLE SA-REG 3.56 3.34 3.16 2.89 2.77 2.37 2.22 2.10 1.98 1.89 16.28 15.12 14.04 12.49 12.01 13.64 12.71 11.85 11.07 10.30 19.87 18.59 17.17 15.94 14.87 3.06 3.27 3.48 3.71 4.04 67.89 0.3%HSBC HOLDINGS PLC 1.14 1.07 1.02 0.96 0.88 2.83 2.83 2.67 2.54 11.46 10.33 8.92 8.32 11.86 10.74 9.61 8.53 7.28 4.11 4.69 5.19 6.01 5.44 776.75 11.9%NOVARTIS AG-REG 2.41 2.33 2.21 2.09 1.86 3.36 3.33 3.20 3.07 2.98 11.76 11.63 10.83 9.41 9.26 11.81 11.95 11.15 10.23 9.89 13.38 13.52 12.23 11.12 10.64 3.48 3.56 3.79 4.04 4.37 67.13 0.4%ROCHE HOLDING AG-GENUSSCHEIN 11.51 9.08 7.00 5.70 4.48 4.16 3.95 3.81 3.67 3.63 14.07 12.48 11.69 10.77 10.46 11.23 10.13 9.65 9.28 9.11 15.99 14.68 13.70 12.89 12.46 3.35 3.63 3.94 4.22 4.45 218.30 -0.2%VODAFONE GROUP PLC 1.09 1.21 1.16 1.14 1.13 1.96 2.05 2.01 1.98 1.97 7.25 6.95 6.70 6.38 7.74 7.76 8.54 8.48 8.35 8.27 11.90 12.13 11.32 10.67 10.09 7.27 5.60 5.71 5.82 6.03 191.96 3.4%BP PLC 1.12 1.08 1.01 0.95 0.85 0.37 0.39 0.38 0.38 0.46 5.18 4.64 4.22 4.05 3.90 4.36 4.24 3.93 4.00 3.86 7.65 8.18 7.30 6.85 6.47 4.87 5.11 5.47 5.89 6.36 481.53 4.5%SANOFI 1.79 1.75 1.68 1.59 1.47 2.97 2.88 2.73 2.59 2.49 11.08 11.06 10.15 8.70 7.94 8.30 8.50 7.84 7.25 6.93 12.60 12.97 11.62 10.56 9.74 3.56 3.77 4.19 4.65 5.18 79.45 1.9%ROYAL DUTCH SHELL PLC-A SHS 1.09 1.01 0.95 0.93 0.83 0.44 0.46 0.45 0.45 0.40 4.57 4.51 4.43 4.28 4.16 3.86 3.74 3.67 3.54 3.32 7.72 7.70 7.59 7.34 7.07 5.33 5.55 5.70 5.93 6.22 2516.79 17.6%GLAXOSMITHKLINE PLC 10.49 12.25 10.90 8.89 6.87 2.81 2.77 2.66 2.55 2.45 12.69 10.85 9.95 9.07 8.08 9.15 9.32 8.86 8.50 8.03 13.68 13.19 11.94 10.96 10.17 4.89 5.14 5.43 5.85 6.15 1502.74 -0.9%TOTAL SA 1.15 1.07 0.98 0.90 0.90 0.50 0.49 0.49 0.50 0.51 3.86 3.71 3.61 3.35 3.21 3.13 3.14 3.07 2.90 2.64 6.84 7.10 7.03 6.61 6.13 6.26 6.39 6.51 6.77 6.96 45.78 22.6%BRITISH AMERICAN TOBACCO PLC 8.25 8.86 8.33 8.35 8.05 4.39 4.19 4.01 3.85 3.64 14.97 13.81 12.94 11.66 10.04 12.52 11.48 10.75 10.07 9.55 16.98 15.17 13.87 12.67 11.39 3.83 4.31 4.72 5.16 5.71 3705.01 5.9%SIEMENS AG-REG 2.27 2.30 2.08 1.89 1.47 0.96 0.95 0.92 0.88 0.85 10.10 10.84 9.18 8.35 8.49 8.67 9.03 7.53 7.01 7.25 13.77 13.87 11.21 10.36 9.51 3.63 3.71 4.01 4.25 4.53 86.64 2.5%ROYAL DUTCH SHELL PLC-B SHS 1.12 1.04 0.98 0.96 0.85 0.44 0.46 0.45 0.45 0.40 4.71 4.65 4.56 4.41 4.28 3.86 3.74 3.67 3.54 3.32 7.95 7.93 7.82 7.56 7.28 5.17 5.39 5.57 5.72 5.88 2463.93 11.8%BAYER AG-REG 3.28 3.10 2.79 2.55 2.20 1.65 1.58 1.50 1.42 1.37 11.73 10.16 9.31 8.45 7.92 8.76 8.24 7.67 7.14 6.80 14.63 13.45 12.17 11.03 10.27 2.29 2.62 2.87 3.13 3.34 79.46 0.3%BASF SE 2.41 2.34 2.18 2.03 1.74 0.80 0.78 0.78 0.74 0.74 7.77 7.50 6.92 6.71 5.69 6.09 5.91 5.60 5.29 5.16 12.55 11.41 10.59 9.84 9.23 3.79 4.01 4.20 4.42 4.48 77.17 13.3%ANHEUSER-BUSCH INBEV NV 3.62 3.39 3.17 2.88 2.53 3.92 3.46 3.19 3.02 2.97 13.81 12.78 11.79 10.81 9.48 12.28 10.81 9.74 9.06 8.92 20.70 19.45 17.19 15.48 14.34 1.97 2.40 2.75 3.27 3.87 75.39 -0.6%DIAGEO PLC 8.49 6.88 5.63 4.60 3.58 4.72 4.42 4.14 3.87 3.68 21.84 18.47 16.09 14.52 12.89 16.90 15.18 14.02 13.07 12.68 21.96 19.64 17.62 15.93 14.75 2.19 2.34 2.56 2.77 3.08 2064.79 2.1%SAP AG 5.22 4.45 3.74 3.12 2.63 4.66 4.22 3.83 3.50 3.24 19.16 15.27 13.54 11.79 11.02 14.20 12.21 10.82 9.56 8.67 20.02 17.84 15.73 13.85 12.90 1.36 1.54 1.79 1.98 1.94 65.60 6.2%NOVO NORDISK A/S-B 13.29 11.74 10.51 8.96 9.64 6.82 6.35 5.83 5.41 5.06 22.78 19.13 17.32 15.29 13.77 16.21 15.01 13.55 12.33 11.58 24.93 20.59 18.58 16.50 14.60 1.81 2.22 2.50 2.74 2.95 1019.38 7.4%BANCO SANTANDER SA 0.68 0.70 0.68 0.70 0.80 1.23 1.22 1.17 1.13 1.12 1.97 1.95 1.84 2.20 9.26 8.77 7.53 7.32 7.60 11.40 11.71 11.24 10.55 11.61 6.15 19.1%RIO TINTO PLC 1.66 1.48 1.29 1.15 0.96 1.82 1.58 1.49 1.45 1.40 7.56 5.29 4.99 4.46 4.46 6.78 5.59 5.09 4.88 4.62 9.45 7.85 6.90 6.89 6.62 3.34 3.80 4.20 4.50 4.26 4043.26 30.2%LVMH MOET HENNESSY LOUIS VUI 2.66 2.45 2.22 2.02 1.63 2.40 2.22 2.04 1.89 1.76 13.96 12.91 11.71 10.90 11.24 10.36 9.48 8.58 7.81 7.51 18.35 17.45 15.55 13.92 12.42 2.26 2.49 2.80 3.11 3.28 152.67 15.4%UNILEVER NV-CVA 5.72 5.15 4.60 4.15 3.62 1.87 1.79 1.69 1.60 1.52 15.90 14.57 13.50 12.37 11.57 12.57 11.78 11.01 10.21 9.75 19.96 18.65 17.17 15.78 14.67 3.01 3.21 3.43 3.64 3.95 31.70 0.4%BHP BILLITON PLC 2.28 2.11 1.85 1.64 1.47 2.41 2.54 2.31 2.21 2.12 6.53 7.73 6.52 6.17 5.78 6.11 7.02 5.95 5.60 5.34 9.20 11.45 9.65 8.87 8.64 3.89 4.10 4.40 4.63 4.75 2279.16 17.5%SABMILLER PLC 3.42 3.06 2.82 2.57 2.25 4.94 3.37 3.18 3.01 2.86 19.55 17.16 16.05 14.11 12.59 19.10 15.80 14.44 13.56 11.77 24.70 21.55 19.13 17.20 15.62 1.72 1.97 2.22 2.50 2.62 3283.07 -4.1%ALLIANZ SE-REG 0.92 0.88 0.83 0.79 0.74 0.46 0.46 0.45 0.44 0.43 9.32 8.67 8.28 8.09 7.57 4.38 4.65 4.89 5.01 5.36 117.71 12.0%ENI SPA 1.06 1.01 0.96 0.90 0.86 0.53 0.54 0.53 0.51 0.55 3.82 3.53 3.30 3.13 3.63 2.85 2.92 2.81 2.70 2.73 8.74 8.98 8.47 7.85 9.36 6.15 6.26 6.40 6.61 6.50 20.11 14.5%ASTRAZENECA PLC 2.60 2.46 2.33 2.20 1.98 2.17 2.31 2.38 2.43 2.50 7.89 7.69 8.27 7.95 8.01 5.76 6.38 6.57 6.65 6.95 7.87 8.96 9.30 9.36 9.65 6.01 5.76 5.80 5.82 5.62 3046.57 -5.7%STANDARD CHARTERED PLC 1.43 1.29 1.20 1.11 1.06 3.23 2.98 2.71 2.47 2.33 11.47 9.84 8.65 7.77 11.69 10.75 9.75 8.97 8.12 3.20 3.60 3.95 4.38 4.52 1900.72 12.2%TELEFONICA SA 2.08 1.99 1.87 1.71 1.64 0.76 0.80 0.80 0.79 0.79 3.27 3.37 3.32 3.47 4.30 5.19 5.40 5.37 5.36 5.38 8.61 9.22 8.84 8.45 8.61 1.22 7.15 7.56 7.12 9.18 11.29 7.9%DAIMLER AG-REGISTERED SHARES 1.08 1.03 0.96 0.87 0.80 0.41 0.40 0.37 0.35 0.36 5.26 4.99 4.39 3.63 3.04 9.19 9.29 8.16 7.27 6.18 9.38 9.33 7.88 6.81 6.73 4.94 4.70 5.17 5.84 47.46 9.4%UBS AG-REG 1.15 1.14 1.08 1.04 1.18 2.23 2.10 2.02 1.91 1.95 94.00 12.04 9.65 7.34 14.33 16.65 12.23 8.92 7.58 0.90 1.74 3.81 7.97 9.32 17.37 19.2%BG GROUP PLC 1.72 1.56 1.40 1.24 1.29 2.54 2.85 2.50 2.01 1.60 7.07 7.38 6.22 5.26 5.17 6.13 6.34 5.31 4.25 4.27 12.38 12.81 10.80 8.48 6.63 1.53 1.64 1.79 2.04 2.28 1390.14 24.6%BNP PARIBAS 0.63 0.60 0.57 0.54 1.25 1.21 1.18 1.14 1.14 4.92 4.38 3.92 3.64 7.21 7.82 6.85 6.27 3.82 4.49 5.43 6.36 6.62 52.31 33.4%UNILEVER PLC 5.87 5.29 4.72 4.26 3.72 1.87 1.79 1.69 1.60 1.52 16.33 14.97 13.87 12.70 11.89 12.57 11.78 11.01 10.21 9.75 20.50 19.16 17.64 16.21 15.07 3.00 3.14 3.40 3.73 4.12 2785.50 1.6%BARCLAYS PLC 0.65 0.64 0.60 0.56 0.49 1.26 1.25 1.22 1.18 1.29 2.98 3.00 2.64 2.34 8.12 7.74 6.46 5.57 6.30 2.25 2.53 3.23 4.49 3.76 365.84 28.4%ABB LTD-REG 3.11 2.81 2.52 2.27 1.33 1.25 1.19 1.13 1.03 13.79 11.51 10.47 9.50 9.51 10.10 8.59 7.76 7.23 7.31 17.25 14.82 13.08 12.00 10.74 3.15 3.38 3.61 3.85 4.17 23.30 8.4%RECKITT BENCKISER GROUP PLC 5.50 5.20 4.57 4.14 3.30 3.57 3.37 3.22 3.02 2.90 17.62 16.37 15.44 14.72 13.03 13.73 13.16 12.49 11.63 10.54 19.23 17.94 16.96 15.78 14.38 2.71 2.88 3.05 3.25 3.58 4410.93 -7.3%BANCO BILBAO VIZCAYA ARGENTA 0.88 0.82 0.78 0.73 1.60 1.56 1.48 1.43 2.90 2.84 2.75 2.86 18.83 8.59 7.62 6.74 6.28 6.33 6.36 6.96 7.87 17.8%TESCO PLC 1.69 1.63 1.53 1.45 0.46 0.46 0.44 0.42 0.40 8.04 7.89 7.29 6.83 7.24 7.72 7.33 6.88 9.87 11.45 11.93 11.28 10.52 9.94 4.02 3.91 4.10 4.42 4.74 388.11 3.3%LOREAL 3.78 3.30 3.05 2.80 2.35 3.23 3.08 2.91 2.73 2.60 19.87 18.39 17.04 15.92 15.07 15.92 14.87 13.84 12.96 12.19 24.97 23.32 21.53 19.74 18.62 1.85 2.06 2.24 2.50 2.67 113.41 -5.1%DANONE 2.56 2.42 2.29 2.12 1.84 1.63 1.53 1.44 1.36 1.29 12.59 12.34 10.85 9.75 8.89 11.18 10.67 9.93 9.20 8.44 17.68 16.89 15.29 14.09 12.70 2.74 2.85 3.11 3.41 3.94 54.56 2.3%NATIONAL GRID PLC 2.72 2.67 2.57 2.42 2.30 1.91 1.91 1.84 1.78 1.70 8.07 7.77 7.58 7.30 7.13 10.04 9.53 8.96 8.55 8.40 14.95 14.07 13.70 13.14 13.19 5.23 5.44 5.56 5.74 5.80 723.88 -3.7%ZURICH INSURANCE GROUP AG 1.21 1.15 1.09 1.01 0.97 0.66 0.66 0.64 0.65 0.59 12.35 9.60 9.08 8.54 8.12 6.72 6.67 6.83 7.00 7.26 269.00 2.4%CIE FINANCIERE RICHEMON-BR A 4.12 3.31 2.82 2.45 2.04 4.04 3.42 3.16 2.90 4.75 21.25 16.65 13.99 12.78 13.25 14.45 11.38 10.36 9.46 8.64 25.29 17.53 15.53 14.04 12.63 0.78 1.02 1.19 1.36 1.50 86.12 16.2%PRUDENTIAL PLC 2.73 2.38 2.12 2.10 1.58 0.54 0.46 0.45 15.13 13.14 11.86 10.89 2.53 2.88 3.08 3.35 3.52 1116.89 6.4%AXA SA 0.67 0.63 0.60 0.55 0.53 0.32 0.32 0.31 0.29 7.38 6.83 6.40 6.11 5.63 5.41 5.82 6.15 6.49 16.38 21.6%SCHNEIDER ELECTRIC SA 1.82 1.74 1.62 1.52 1.31 1.28 1.22 1.15 11.45 10.95 9.73 9.29 9.43 8.78 8.06 7.53 14.66 13.62 12.22 11.18 3.13 3.44 3.76 4.10 59.03 5.0%SYNGENTA AG-REG 4.57 3.89 3.47 2.83 2.68 2.71 2.52 2.38 2.27 2.24 15.62 13.80 12.64 12.03 11.83 12.67 11.49 10.60 10.03 9.69 18.74 16.58 15.14 14.29 14.61 2.25 2.64 2.91 3.07 3.14 408.11 3.2%AIR LIQUIDE SA 2.72 2.53 2.36 2.20 1.97 1.91 1.79 1.67 1.57 1.53 10.13 9.34 8.72 8.22 7.46 9.42 8.69 8.01 7.47 7.17 18.27 16.80 15.19 13.91 12.96 2.69 2.89 3.14 3.41 3.40 101.28 8.2% Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  5. 5. Valuation Measures II/II Price to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Price to Earnings Ratio Estimated Dividend Yield Target 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 SpotS&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%ERICSSON LM-B SHS 1.82 1.83 1.73 1.58 1.50 1.18 1.14 1.09 1.05 1.07 16.61 11.55 9.80 9.16 7.09 8.83 7.09 6.33 5.66 5.72 18.85 15.78 13.27 11.65 10.71 3.19 3.45 3.71 3.99 4.19 85.03 4.7%XSTRATA PLC 1.02 0.97 0.91 0.94 1.59 1.43 1.34 1.19 7.07 6.93 6.00 5.06 8.62 6.82 5.98 4.81 13.92 13.00 10.35 7.35 2.47 2.73 3.05 3.72 1267.50 18.1%DEUTSCHE BANK AG-REGISTERED 0.50 0.49 0.47 0.44 0.39 0.84 0.83 0.81 0.79 0.71 5.36 4.66 4.08 3.83 8.48 7.86 6.07 5.08 4.36 2.48 2.54 3.20 3.74 3.54 38.64 27.2%ANGLO AMERICAN PLC 0.80 0.79 0.76 0.74 1.28 1.05 1.01 0.96 0.85 6.14 4.61 4.31 4.00 6.23 5.03 4.62 4.42 5.64 13.45 11.15 9.17 8.31 15.01 2.93 3.31 3.51 4.02 5.46 2026.32 18.5%DEUTSCHE TELEKOM AG-REG 1.24 1.25 1.19 1.17 1.31 0.61 0.61 0.61 0.61 0.61 2.65 2.54 2.57 2.67 2.56 4.35 4.52 4.51 4.45 4.35 12.74 11.52 11.13 10.80 10.20 8.55 6.55 6.27 6.46 7.14 9.16 12.1%GDF SUEZ 0.53 0.53 0.54 0.55 0.52 0.39 0.44 0.44 0.44 0.41 2.99 3.33 3.23 3.51 3.21 5.49 6.66 6.56 6.40 5.88 9.57 10.93 10.49 9.98 8.66 10.05 9.83 9.86 8.92 9.46 16.67 11.7%IMPERIAL TOBACCO GROUP PLC 2.82 3.55 3.41 3.32 3.12 2.76 2.70 2.61 2.53 2.44 9.99 9.12 8.81 8.10 7.37 9.14 8.97 8.60 8.26 7.95 11.24 10.55 9.79 9.10 8.47 4.67 5.18 5.72 6.32 6.88 2637.15 17.7%NORDEA BANK AB 1.27 1.19 1.12 1.06 3.50 3.40 3.27 3.13 11.03 11.47 8.95 6.83 11.71 10.67 9.57 8.63 3.39 4.38 5.08 5.78 79.33 8.9%CREDIT SUISSE GROUP AG-REG 0.92 0.91 0.86 0.82 0.66 1.36 1.25 1.20 1.18 1.11 15.66 6.59 6.94 6.34 10.16 9.50 8.08 7.35 6.73 2.85 3.72 4.41 5.39 5.06 28.53 13.9%VOLKSWAGEN AG-PREF 0.93 0.85 0.76 0.66 0.63 0.36 0.34 0.32 0.31 0.30 3.23 3.29 2.93 3.01 2.59 7.57 6.88 6.16 5.75 4.97 7.18 7.11 6.15 5.56 5.16 2.50 2.86 3.50 4.42 4.26 192.58 24.9%MUENCHENER RUECKVER AG-REG 0.98 0.91 0.87 0.82 0.80 0.47 0.47 0.45 0.44 0.37 8.22 8.86 8.65 8.70 9.63 4.69 4.86 5.00 5.26 5.39 147.33 1.5%E.ON SE 0.68 0.68 0.67 0.64 0.61 0.24 0.24 0.24 0.23 0.21 3.29 4.05 4.02 3.82 3.55 4.69 5.29 5.18 5.16 5.02 6.01 10.29 9.67 9.52 9.12 8.12 5.48 5.64 5.68 5.94 13.34 -0.9%PERNOD-RICARD SA 2.59 2.22 2.04 1.85 1.72 3.12 2.91 2.74 2.56 2.41 19.20 18.09 15.83 14.18 13.11 15.29 13.97 12.93 11.95 10.91 21.01 19.43 17.14 15.05 13.30 1.64 1.76 1.98 2.23 2.72 101.00 4.6%BT GROUP PLC 11.57 12.36 7.49 5.48 3.50 1.11 1.18 1.21 1.21 1.21 4.40 4.71 4.90 4.80 5.70 4.97 4.91 4.94 4.89 4.90 11.93 10.83 10.70 10.03 9.78 3.09 3.53 3.97 4.52 4.82 267.95 -1.5%INDITEX 7.33 6.70 5.83 5.09 3.80 3.91 3.52 3.18 2.87 2.60 19.34 17.66 15.76 14.11 14.69 13.28 11.87 10.66 9.52 26.14 23.42 20.88 18.64 16.69 2.27 2.50 2.85 3.24 3.64 108.25 8.1%ROLLS-ROYCE HOLDINGS PLC 3.62 2.95 2.55 2.27 1.96 1.68 1.36 1.29 1.19 1.11 17.87 14.54 11.69 9.71 10.69 8.77 8.16 7.52 6.44 19.15 16.78 15.33 14.14 13.07 1.79 2.00 2.26 2.59 2.76 1055.28 -4.0%STATOIL ASA 1.41 1.28 1.17 1.09 1.02 0.63 0.70 0.69 0.69 0.71 3.69 3.76 3.61 3.61 3.49 1.88 2.01 1.97 1.95 2.05 8.55 8.48 8.21 8.31 8.55 4.73 4.88 5.01 5.17 5.33 159.51 13.0%LLOYDS BANKING GROUP PLC 0.75 0.77 0.73 0.69 0.63 1.85 1.86 1.87 1.85 12.06 8.77 7.09 6.10 20.10 12.36 8.61 7.42 5.67 0.00 0.41 2.07 4.15 3.32 53.63 11.2%SWISS RE AG 0.86 0.85 0.82 0.77 0.71 0.91 0.92 0.86 0.81 0.80 7.89 9.98 9.49 9.23 8.72 4.72 5.43 5.45 5.61 5.06 75.80 -1.2%CENTRICA PLC 3.13 3.02 2.79 2.52 2.16 0.81 0.77 0.74 0.71 0.67 10.13 7.40 6.91 6.53 6.43 5.91 5.62 5.33 4.98 13.51 13.12 11.80 11.47 10.27 4.50 4.71 4.99 5.32 5.81 368.25 0.9%KONINKLIJKE PHILIPS ELECTRON 1.84 1.84 1.73 1.59 1.42 0.89 0.89 0.86 0.82 0.82 11.22 9.16 7.76 7.33 6.73 8.24 6.65 6.06 5.49 5.44 19.26 14.05 12.15 10.89 9.49 3.30 3.40 3.68 3.93 4.02 24.23 5.3%GLENCORE INTERNATIONAL PLC 1.19 1.07 0.95 0.87 0.19 0.18 0.17 0.16 0.20 10.27 8.18 6.70 5.96 13.08 10.20 8.13 7.59 11.64 9.08 7.29 6.23 11.23 2.75 3.14 3.84 4.25 434.00 21.5%ING GROEP NV-CVA 0.43 0.39 0.37 0.36 0.50 0.56 0.51 0.50 7.27 5.62 5.07 4.86 5.86 0.00 0.30 3.36 4.94 7.98 41.9%BAYERISCHE MOTOREN WERKE AG 1.45 1.33 1.21 1.09 1.03 0.57 0.55 0.53 0.50 0.50 5.33 5.16 4.92 4.74 3.31 7.67 7.91 7.63 7.88 6.64 8.86 8.82 8.57 8.20 8.10 3.80 4.00 4.29 4.46 3.92 79.43 15.4%LINDE AG 1.92 1.92 1.78 1.65 1.49 1.74 1.55 1.46 1.38 1.32 9.55 8.73 8.05 7.44 6.80 10.09 8.90 8.23 7.56 7.12 18.39 16.79 14.84 13.37 12.31 1.85 2.05 2.26 2.49 2.82 152.10 6.0%VIVENDI 1.01 1.05 1.00 0.99 1.01 0.74 0.73 0.72 0.71 0.70 3.47 3.74 3.62 3.41 3.50 4.75 4.86 4.73 4.65 4.51 7.90 8.89 8.37 7.97 7.95 6.31 6.21 6.43 6.82 8.17 17.84 12.5%VINCI SA 1.44 1.35 1.28 1.17 1.02 0.53 0.52 0.51 0.50 0.46 5.10 4.95 4.81 4.53 4.26 6.33 6.25 6.07 5.85 5.44 10.11 9.92 9.38 8.93 7.91 5.12 5.18 5.39 5.78 6.02 43.76 25.4%ENEL SPA 0.58 0.58 0.56 0.53 0.54 0.29 0.29 0.29 0.29 0.28 2.63 2.60 2.39 2.54 2.64 5.83 5.99 5.93 5.80 5.67 6.87 7.54 7.18 6.76 6.79 5.95 5.52 5.67 6.11 5.91 3.04 20.7%HEINEKEN NV 3.19 2.84 2.54 2.18 2.07 1.87 1.67 1.59 1.51 1.43 11.88 10.02 9.23 8.31 7.83 12.28 10.40 9.68 9.02 8.75 20.94 18.14 16.09 14.45 13.04 1.48 1.66 1.87 2.07 2.25 55.12 -7.1%RWE AG 1.10 1.12 1.07 1.02 0.91 0.34 0.33 0.32 0.32 0.30 2.95 3.07 3.12 3.36 2.84 3.87 3.84 3.93 3.99 4.01 7.07 7.36 8.08 8.38 8.11 7.03 6.88 6.59 6.31 6.38 30.15 4.9%IBERDROLA SA 0.63 0.62 0.61 0.60 0.61 0.73 0.69 0.66 0.65 0.68 3.86 4.14 4.21 3.78 6.39 6.52 6.27 6.02 5.86 8.00 9.06 8.64 8.75 9.23 8.55 8.05 8.03 7.98 8.23 4.33 18.6%HENNES & MAURITZ AB-B SHS 8.49 8.32 7.73 7.06 6.66 3.16 2.97 2.68 2.43 2.18 18.80 17.54 15.77 14.18 13.25 14.22 13.59 12.16 10.92 9.70 22.79 21.51 19.22 17.31 15.45 4.14 4.20 4.47 4.86 5.53 219.50 -5.1%EADS NV 3.29 3.26 2.62 2.23 1.91 0.60 0.56 0.52 0.50 0.49 10.75 8.34 7.46 5.39 6.63 6.03 4.82 4.11 3.75 3.65 20.53 14.75 11.00 9.08 8.46 1.55 2.42 3.25 3.95 3.81 42.96 8.4%ASML HOLDING NV 4.95 4.26 3.64 2.94 4.42 4.30 3.44 2.89 2.35 17.34 20.00 12.94 10.50 13.86 15.34 10.43 8.02 6.86 20.50 22.28 14.40 10.73 7.99 0.89 1.07 1.23 1.40 53.78 5.5%VOLVO AB-B SHS 2.18 2.21 1.97 1.82 0.66 0.68 0.63 0.60 0.59 11.10 7.07 6.24 5.76 9.34 9.12 7.42 6.52 7.15 15.27 15.03 10.48 8.65 8.76 3.08 3.41 4.02 4.63 104.41 10.7%FRANCE TELECOM SA 0.76 0.78 0.77 0.74 0.76 0.48 0.50 0.50 0.51 0.51 2.07 2.12 2.19 2.27 2.23 3.93 4.16 4.28 4.37 4.39 6.12 7.19 7.37 7.27 7.01 10.19 9.87 9.54 9.23 9.73 9.63 22.1%COMPAGNIE DE SAINT-GOBAIN 0.84 0.84 0.81 0.76 0.35 0.35 0.34 0.33 0.32 5.41 5.40 4.93 4.31 5.52 5.46 5.02 4.52 4.12 12.22 11.76 9.74 7.85 6.63 4.06 4.61 4.63 4.86 33.03 15.0%ATLAS COPCO AB-A SHS 6.30 5.47 4.69 4.04 2.40 2.43 2.33 2.20 2.14 15.03 13.86 13.51 13.10 10.30 10.43 9.87 9.24 9.44 15.95 16.10 15.02 13.82 3.16 3.23 3.45 3.66 190.61 4.4%SWATCH GROUP AG/THE-BR 3.22 2.84 2.48 2.16 3.68 3.20 2.91 2.65 2.51 20.45 15.90 13.97 12.56 12.48 10.48 9.36 8.33 8.29 19.74 16.45 14.72 13.08 12.87 1.25 1.45 1.64 1.85 1.99 594.56 9.5%TELENOR ASA 2.56 2.50 2.36 2.17 2.43 1.96 1.93 1.88 1.83 1.73 9.58 7.26 6.93 6.79 5.39 7.52 6.86 6.53 6.25 5.90 15.50 12.72 11.26 10.21 9.04 4.46 5.32 6.05 6.87 10.56 132.04 3.4%INTESA SANPAOLO 0.37 0.36 0.35 0.34 1.04 1.08 1.05 1.03 2.31 2.33 2.21 2.11 11.30 9.89 7.28 5.96 6.92 4.61 4.69 6.23 7.22 8.13 1.41 27.5%HENKEL AG & CO KGAA VORZUG 3.29 3.04 2.72 2.45 2.11 1.75 1.70 1.62 1.53 1.48 15.94 14.58 13.62 12.62 11.50 11.76 11.11 10.29 9.45 8.85 19.95 18.38 16.68 15.14 13.97 1.25 1.38 1.53 1.72 1.93 70.86 -4.3%TELIASONERA AB 1.70 1.68 1.62 1.70 1.91 1.92 1.91 1.90 1.85 5.94 6.90 6.92 6.73 5.97 7.42 7.52 7.29 7.16 6.86 11.21 11.03 10.58 10.35 9.77 6.71 7.22 7.31 7.58 8.83 47.08 2.0%ARCELORMITTAL 0.38 0.39 0.38 0.36 0.33 0.26 0.25 0.24 0.24 0.23 4.22 4.52 3.27 3.08 1.92 6.68 6.11 4.99 4.48 3.89 76.06 19.18 9.05 6.42 4.82 4.34 1.65 2.39 2.70 1.92 13.80 35.5%FRESENIUS MEDICAL CARE AG & 2.33 2.10 1.89 1.69 1.52 1.49 1.39 1.32 1.23 1.14 11.74 11.00 10.05 9.29 9.06 9.93 9.31 8.80 8.21 7.40 18.02 17.05 15.72 13.99 12.16 1.34 1.43 1.53 1.65 2.18 56.70 8.2%AP MOELLER-MAERSK A/S-B 0.93 0.89 0.82 0.75 0.57 0.58 0.54 0.51 0.44 4.41 4.06 3.52 3.19 4.07 4.05 3.62 3.37 10.83 10.37 8.32 6.68 5.33 2.33 2.63 2.81 2.95 50965.00 12.2%CHRISTIAN DIOR 2.78 1.67 1.50 1.18 0.97 0.78 0.71 0.65 6.94 5.45 4.76 3.94 7.68 6.15 5.46 4.89 18.24 13.72 11.50 10.81 1.78 2.55 3.03 3.48 146.57 14.5%HENKEL AG & CO KGAA 2.71 2.50 2.23 2.01 1.73 1.75 1.70 1.62 1.53 1.48 13.09 11.98 11.19 10.37 9.45 11.76 11.11 10.29 9.45 8.85 16.39 15.10 13.70 12.44 11.48 1.53 1.71 1.86 2.07 2.37 60.54 -0.5%ATLAS COPCO AB-B SHS 5.61 4.88 4.18 3.61 2.40 2.43 2.33 2.20 2.14 13.40 12.36 12.04 11.68 10.30 10.43 9.87 9.24 9.44 14.22 14.36 13.39 12.32TENARIS SA 1.99 1.86 1.68 1.51 2.18 2.08 1.97 1.89 9.83 8.50 9.14 9.98 8.36 7.84 7.38 7.03 13.54 12.01 11.94 11.23 2.46 2.58 2.70 2.66 15.66 0.0% Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

×