Fundamental Equity Analysis - S&P 100 Index Components (OEX Index)

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Fundamental Equity Analysis - S&P 100 Index Components (OEX Index)

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Fundamental Equity Analysis - S&P 100 Index Components (OEX Index)

  1. 1. Fundamental Analysis &Analyst RecommendationsS&P 100 Index ComponentsApril 2013Q.M.S AdvisorsQ.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 beviewed as a current or past recommendation or a solicitation of anoffer to buy or sell any securities or to adopt any investment strategy.
  2. 2. CurrencyMarketCapitalization (in mioUSD)DailyVolume (M)TotalCommonShares (M)Total Debt(USD)PreferredStock (USD)MinorityInterest(USD)Cash andEquivalents(USD)EnterpriseValue(USD)Tot. Rev. -LFYEst. Tot.Rev. - Tr.12MEst. Tot.Rev. - 2013Est. Tot.Rev. - 2014 EBITDA - LFYEst. EBITDA -Tr. 12MEst. EBITDA -2013Est. EBITDA -2014 EPS - LFYEst. EPS -Tr. 12MEst. EPS -2013Est. EPS -2014P/E Ratio -LFYEst. P/ERatio - Tr.12MEst. P/ERatio - 2013Est. P/ERatio - 2014Est.RevenueGrowth - 1YEst.RevenueGrowth - 5YEst. EBITDAGrowth - 1YEst. Est.EBITDAGrowth - 5YEst. EBITDAMargin -S&P LTCreditRating -S&P LT CreditRating DateMoodys LTCreditRatingMoodys LT CreditRating DateS&P 500 INDEX USD 14532230 1927.407 1114 1114 204 218 218 101.81 110.54 110.54 15.51 15.51 14.28 14.28 18.76Euro Stoxx 50 Pr EUR 2601821 5534.746 4671 4671 766 785 785 223.45 308.77 308.77 20.27 16.93 14.67 14.67 20.41NIKKEI 225 JPY 2648110 187.4584 188 188 18 21 21 4.96 6.63 6.63 0.28 0.28 0.21 0.21 0.11FTSE 100 INDEX GBP 2708977 11778.28 9425 9425 1461 1659 1659 534.87 824.88 824.88 27.99 23.16 18.15 18.15 22.78SWISS MARKET INDEX CHF 1044313 11048.75 4126 4126 868 836 836 409.25 555.77 555.77 21.36 18.19 15.73 15.73 22.49S&P/TSX COMPOSITE INDEX CAD 1583702 16543.48 7831 7831 1857 2073 2073 793.82 866.68 866.68 14.47 14.47 13.26 13.26 24.31S&P/ASX 200 INDEX AUD 1401328 6684.531 2820 2820 622 697 697 248.91 335.95 335.95 21.65 17.37 16.04 16.04 22.89HANG SENG INDEX HKD 1659527 3297.874 1706 1706 360 403 403 271.14 269.04 269.04 1.36 1.46 1.37 1.37 2.96MSCI EM USD 7576270 1402.106 1036 1036 195 195 195 84.43 95.25 95.25 11.96 12.94 10.60 10.60 19.633M CO USD 74195 107 687 6 0 0 6 74.97 29904 29904 31475 33193 7771 7771 1978 1978 6.32 6.35 6.83 7.45 16.93 16.93 15.75 14.43 0.99 3.87 4.82 3.91 25.99 AA- 18.03.2009 Aa2 01.05.2009ABBOTT LABORATORIES USD 58335 191 1577 20 0 0 15 63.73 39874 35795 22472 23813 11156 11906 937 937 5.07 4.36 2.00 2.26 8.52 8.52 18.61 16.43 2.63 -1.44 17.82 11.64 29.86 A+ 26.10.2012 A1 22.09.2010ABBVIE INC USD 71029 218 1577 18 0 0 8 80.96 18380 18440 18884 7255 - 1607 1607 3.47 - 3.12 3.22 - - 14.40 13.94 5.37 - 30.36 - - A 26.10.2012 Baa1 05.11.2012ACCENTURE PLC-CL A USD 53514 163 677 0 0 0 7 48.37 29778 30090 29058 30926 4467 4603 1296 1296 3.84 4.31 4.30 4.67 17.90 17.90 17.93 16.52 8.87 4.71 12.08 8.55 15.30 A+ 22.01.2002 - -ALLSTATE CORP USD 23782 120 479 6 0 0 1 29.28 33315 33315 33589 34250 - - - - 4.36 4.34 4.74 5.17 11.48 11.48 10.51 9.64 2.02 0.34 - - - A- 29.01.2009 A3 29.01.2009ALTRIA GROUP INC USD 71792 328 2010 14 0 0 3 82.81 17500 17500 17692 18020 7539 7539 1747 1747 2.21 2.21 2.40 2.57 16.16 16.16 14.91 13.91 5.30 -8.61 15.22 -12.44 43.08 BBB 06.01.2009 Baa1 24.10.2006AMAZON.COM INC USD 121844 159 454 4 0 0 11 114.78 61093 61093 75573 92886 2835 2834 944 944 -0.23 -0.46 3.46 5.76 - - 77.47 46.50 27.07 30.56 45.76 25.77 4.64 AA- 26.11.2012 Baa1 26.11.2012AMERICAN ELECTRIC POWER USD 24596 89 486 19 0 0 1 42.73 14945 14945 15849 16152 4874 4529 1151 1151 3.09 3.10 3.16 3.32 16.33 16.33 16.03 15.27 -1.13 2.01 3.42 4.80 30.30 BBB 07.03.2003 Baa2 14.09.2005AMERICAN EXPRESS CO USD 73808 163 1105 62 0 0 22 104.81 33808 34020 32932 34804 11658 11658 - - 4.40 4.48 4.79 5.32 15.00 15.00 14.05 12.64 4.73 1.17 3.11 -4.80 34.48 BBB+ 30.04.2009 A3 24.04.2009AMGEN INC USD 78720 725 756 27 0 0 24 81.34 17265 17455 17947 18388 6665 6665 1638 1638 6.00 6.36 7.27 8.27 16.53 16.53 14.47 12.72 10.80 3.45 24.07 2.92 38.60 A+ 07.09.2007 Baa1 07.11.2011ANADARKO PETROLEUM CORP USD 42033 129 501 13 0 1 2 54.08 14060 14058 15113 16958 6950 6948 2297 2297 2.25 4.12 4.16 5.22 20.08 20.08 19.90 15.83 2.96 6.49 -5.48 4.50 49.42 BBB- 08.09.2006 Baa3 23.03.2012APACHE CORP USD 27899 171 392 12 1 0 0 41.31 16947 16947 17740 19128 12283 12283 3066 3066 9.63 9.56 9.18 9.96 7.44 7.44 7.75 7.15 0.81 12.13 -2.14 10.90 72.48 A- 26.01.2001 A3 29.11.2010APPLE INC USD 375713 3871 939 0 0 0 121 231.03 156508 169104 176389 194633 58518 57381 11095 11095 44.15 41.89 41.90 46.08 9.56 9.56 9.55 8.67 44.58 43.06 64.36 65.35 33.93 AA+ 23.04.2013 Aa1 23.04.2013AT&T INC USD 199404 3100 5581 70 0 0 5 270.00 127434 126968 128519 130750 31140 30948 11190 11190 2.31 2.37 2.52 2.72 15.51 15.51 14.60 13.53 0.56 0.41 2.08 -5.80 24.37 A- 06.12.2010 A3 29.01.2013BAKER HUGHES INC USD 19816 350 441 5 0 0 1 23.81 21361 21236 21650 23457 3760 3640 901 901 3.07 2.95 3.06 4.09 15.22 15.22 14.67 10.96 7.72 17.86 -11.24 6.08 17.14 A 05.05.2006 A2 25.01.1995BANK OF AMERICA CORP USD 132466 3660 10778 673 19 0 349 100078 100131 90794 92423 - - - - 1.13 0.87 1.03 1.32 14.07 14.07 11.87 9.24 -13.26 1.88 - - - A- 29.11.2011 Baa2 21.06.2012BANK OF NEW YORK MELLON CORP USD 32116 185 1163 62 1 1 145 15089 15512 14735 15418 - - - - 2.34 2.30 2.25 2.56 12.02 12.02 12.26 10.82 -4.52 -2.90 - - - A+ 29.11.2011 Aa3 08.03.2012BAXTER INTERNATIONAL INC USD 37820 131 546 6 0 0 3 40.52 14190 14250 15485 16909 3533 3563 988 988 4.52 4.56 4.66 5.16 15.26 15.26 14.94 13.48 2.14 3.79 -2.30 3.77 25.00 A 06.12.2012 A3 *- 04.12.2012BERKSHIRE HATHAWAY INC-CL B USD 263174 190 63 0 4 187 143.09 162463 162463 29524 29524 - - - - - - 13.07 10.60 34.15 4.33 18.17 AA+ 04.02.2010 Aa2 04.02.2010BOEING CO/THE USD 69015 719 756 10 0 0 14 66.43 81698 81208 83857 91482 8118 8057 2012 2012 5.11 5.31 6.37 7.14 17.14 17.14 14.28 12.76 18.86 4.17 8.53 2.21 9.92 A 29.07.2009 A2 15.03.2006BRISTOL-MYERS SQUIBB CO USD 68673 313 1630 7 0 0 6 69.73 17621 17621 16565 17843 4771 4771 908 908 1.82 1.88 1.83 2.15 22.23 22.23 22.80 19.43 -17.05 -1.91 -35.94 3.29 27.08 A+ 06.09.2006 A2 12.09.2006CAPITAL ONE FINANCIAL CORP USD 32891 76 582 50 0 0 11 63.64 23177 24303 22116 21995 13429 13343 - - 6.24 6.02 6.58 6.67 9.36 9.36 8.55 8.44 25.11 6.31 37.13 2.50 57.57 BBB 17.06.2009 Baa1 17.02.2012CATERPILLAR INC USD 55234 261 655 10 0 0 3 62.13 65875 63104 59614 63901 11966 10923 2336 2336 8.62 7.44 7.12 8.29 11.29 11.29 11.80 10.13 9.54 6.15 23.62 12.24 17.31 A 24.06.2003 A2 15.06.1995CHEVRON CORP USD 229627 238 1947 12 0 1 21 221.92 222580 222580 238330 232880 48426 48426 11617 11617 12.10 12.12 12.44 12.57 9.75 9.75 9.50 9.40 -5.80 -0.13 -5.44 7.12 21.76 AA 01.07.1987 Aa1 27.02.2009CISCO SYSTEMS INC USD 108666 3255 5298 16 0 0 49 78.59 46061 47252 48711 51405 12971 13372 3802 3802 1.60 1.48 2.00 2.11 13.81 13.81 10.22 9.66 6.58 4.44 18.36 5.10 28.30 A+ 10.02.2006 A1 10.02.2006CITIGROUP INC USD 142377 872 3029 624 3 2 36 800.44 90708 90629 78925 80916 41810 41647 - - 4.83 4.15 4.70 5.32 11.27 11.27 9.96 8.80 -11.58 -2.29 -21.93 -15.72 45.84 A- 29.11.2011 Baa2 21.06.2012COCA-COLA CO/THE USD 189173 678 4469 33 0 0 17 206.28 48017 47915 48720 51082 12761 12686 4036 4036 2.01 2.02 2.15 2.35 21.11 21.11 19.75 18.13 3.17 9.37 5.23 8.68 26.48 AA- 13.09.2012 Aa3 16.08.2007COLGATE-PALMOLIVE CO USD 55810 122 468 5 0 0 1 60.36 17085 17085 17696 18675 4314 4314 1089 1089 5.36 5.35 5.70 6.30 22.28 22.28 20.91 18.93 2.10 3.41 1.22 7.63 25.25 AA- 04.05.2001 Aa3 18.06.2001COMCAST CORP-CLASS A USD 106604 498 2639 40 0 17 12 152.08 62570 62570 64180 67996 19977 19977 5003 5003 1.92 1.93 2.36 2.70 21.15 21.15 17.27 15.11 12.05 16.15 8.82 11.13 31.93 A- 14.02.2013 A3 13.02.2013CONOCOPHILLIPS USD 71208 384 1220 22 0 0 4 89.76 57967 96888 54799 57508 19396 20383 5690 5690 5.37 6.09 5.49 6.03 9.58 9.58 10.62 9.68 -9.70 -13.33 -10.41 -8.76 21.04 A 07.02.2012 A1 26.04.2012COSTCO WHOLESALE CORP USD 47202 146 432 1 0 0 5 46.59 99137 103128 106074 115137 3667 3874 932 932 3.96 4.35 4.55 5.03 24.84 24.84 23.76 21.50 11.50 8.06 11.02 10.87 3.76 A+ 28.11.2012 A1 26.03.2012CVS CAREMARK CORP USD 71422 119 1231 10 0 0 1 79.87 123133 123133 125265 130146 8981 8981 2064 2064 3.20 3.20 3.97 4.41 18.13 18.13 14.63 13.16 14.97 7.65 13.71 8.81 7.29 BBB+ 23.03.2007 Baa2 13.02.2007DEVON ENERGY CORPORATION USD 21693 135 406 12 0 0 7 26.36 9679 9651 9799 11129 5253 5225 1201 1201 3.30 3.27 3.52 4.86 16.34 16.34 15.18 11.01 -11.73 -3.07 -17.78 -6.57 54.14 BBB+ 18.03.2008 Baa1 21.09.2007DOW CHEMICAL CO/THE USD 38528 272 1203 21 4 1 4 60.33 56786 56786 58998 61720 6645 6425 2121 2121 1.90 1.91 2.35 2.93 16.75 16.75 13.63 10.93 -5.33 0.57 -3.82 1.85 11.31 BBB 11.05.2011 Baa2 02.11.2012EBAY INC USD 69185 987 1294 5 0 0 9 64.31 14072 14542 16325 19014 4088 4285 1247 1247 1.95 2.01 2.74 3.23 26.52 26.52 19.45 16.51 20.77 11.98 23.39 9.42 29.47 A 02.03.2010 A2 21.10.2010DU PONT (E.I.) DE NEMOURS USD 48389 472 933 12 0 0 4 55.39 34812 36129 36053 38330 4794 4817 2153 2153 3.33 3.36 3.90 4.36 15.68 15.68 13.52 12.07 3.36 5.29 -4.99 2.35 13.33 A 17.05.2011 A2 15.07.2011ELI LILLY & CO USD 64346 320 1144 6 0 0 6 64.20 22603 22603 22988 19862 6478 6477 1610 1610 3.39 3.61 3.90 2.82 15.78 15.78 14.59 20.23 -6.93 3.21 -15.78 2.06 28.66 AA- 19.08.2010 A2 08.11.2010EMC CORP/MA USD 47602 1357 2107 3 0 1 6 43.95 21714 22007 23461 25451 5602 5659 1791 1791 1.26 1.26 1.86 2.07 17.95 17.95 12.17 10.94 8.53 9.81 12.92 15.81 25.71 A 25.06.2012 WR 01.08.2000EMERSON ELECTRIC CO USD 39786 162 724 5 0 0 2 42.85 24412 24656 25181 26472 5155 5269 1124 1124 3.34 3.42 3.59 3.99 16.11 16.11 15.35 13.81 0.78 0.48 1.16 4.42 21.37 A 04.02.2002 A2 15.02.2002EXELON CORP USD 31630 257 855 20 0 0 1 50.13 23489 23489 25691 25551 6550 6550 1670 1670 2.85 2.55 2.49 2.32 14.50 14.50 14.83 15.94 23.22 8.12 -3.45 -0.89 27.89 BBB 22.07.2009 Baa2 08.11.2012EXXON MOBIL CORP USD 400911 451 4502 12 0 6 10 408.71 420714 426252 434881 442168 65769 67270 20192 20192 7.56 7.89 7.96 8.16 11.34 11.34 11.24 10.97 -2.96 2.37 -5.62 -1.21 15.78 AAA 16.12.1985 WR 16.08.1993FEDEX CORP USD 30071 224 317 2 0 0 3 28.94 42680 43860 44352 46752 5433 5393 1619 1619 6.59 6.17 6.09 7.54 15.38 15.38 15.59 12.59 8.59 3.44 22.36 1.60 12.30 BBB 11.02.2004 Baa1 13.01.2012FORD MOTOR CO USD 51104 2468 3946 14 0 0 24 42.90 134252 137607 134617 141218 12513 13404 2921 2921 1.40 1.33 1.42 1.70 9.98 9.98 9.37 7.80 -1.48 -0.20 -8.19 -0.09 9.98 BB+ 21.10.2011 Baa3 22.05.2012FREEPORT-MCMORAN COPPER USD 28040 845 949 4 0 4 4 32.45 18010 17988 21856 23602 6934 6617 1941 1941 3.27 2.95 3.71 4.25 10.01 10.01 7.95 6.94 -13.75 4.92 -31.77 -2.37 36.79 BBB 29.07.2011 Baa3 13.10.2010GENERAL DYNAMICS CORP USD 24854 269 354 4 0 0 3 25.02 31513 31338 31428 31243 3447 1428 1011 1011 6.48 6.48 6.67 7.12 10.86 10.86 10.54 9.89 -3.56 1.45 -21.98 -0.51 4.56 A 09.07.1999 A2 07.08.2003GENERAL ELECTRIC CO USD 225049 2184 10406 17 0 5 16 220.55 144796 143566 148360 153732 25000 25000 7380 7380 1.54 1.53 1.67 1.82 14.18 14.18 13.00 11.94 1.81 -4.28 -0.16 -6.95 17.27 AA+ 12.03.2009 Aa3 03.04.2012GILEAD SCIENCES INC USD 78616 1236 1519 8 0 0 3 84.50 9703 9703 10810 13038 4288 4288 1111 1111 1.69 1.68 2.08 3.00 30.79 30.79 24.79 17.22 15.71 19.77 4.80 14.12 44.20 A- 23.03.2011 Baa1 23.03.2011GOLDMAN SACHS GROUP INC USD 68991 94 481 511 6 1 73 513.72 41664 41636 34266 35053 20446 20446 - - 15.03 15.25 14.31 15.25 9.42 9.42 10.04 9.42 13.24 -6.82 27.63 -19.57 49.07 A- 29.11.2011 A3 21.06.2012GOOGLE INC-CL A USD 269758 143 330 6 0 0 50 223.33 50175 54703 47546 55173 15722 16160 5164 5164 34.02 34.99 46.21 53.30 23.29 23.29 17.64 15.29 32.37 22.23 15.66 21.04 29.54 AA 19.11.2012 Aa2 16.05.2011HALLIBURTON CO USD 38068 796 929 5 0 0 2 40.89 28503 28609 29656 32652 5787 4729 1507 1507 3.02 2.17 3.18 4.02 18.84 18.84 12.86 10.18 14.80 13.05 -5.07 7.51 16.53 A 20.08.2007 A2 01.05.2007Valuation Measures I/IIMarket Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA GrowthQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  3. 3. CurrencyMarketCapitalization (in mioUSD)DailyVolume (M)TotalCommonShares (M)Total Debt(USD)PreferredStock (USD)MinorityInterest(USD)Cash andEquivalents(USD)EnterpriseValue(USD)Tot. Rev. -LFYEst. Tot.Rev. - Tr.12MEst. Tot.Rev. - 2013Est. Tot.Rev. - 2014 EBITDA - LFYEst. EBITDA -Tr. 12MEst. EBITDA -2013Est. EBITDA -2014 EPS - LFYEst. EPS -Tr. 12MEst. EPS -2013Est. EPS -2014P/E Ratio -LFYEst. P/ERatio - Tr.12MEst. P/ERatio - 2013Est. P/ERatio - 2014Est.RevenueGrowth - 1YEst.RevenueGrowth - 5YEst. EBITDAGrowth - 1YEst. Est.EBITDAGrowth - 5YEst. EBITDAMargin -S&P LTCreditRating -S&P LT CreditRating DateMoodys LTCreditRatingMoodys LT CreditRating DateS&P 500 INDEX USD 14532230 1927.407 1114 1114 204 218 218 101.81 110.54 110.54 15.51 15.51 14.28 14.28 18.76Euro Stoxx 50 Pr EUR 2601821 5534.746 4671 4671 766 785 785 223.45 308.77 308.77 20.27 16.93 14.67 14.67 20.41NIKKEI 225 JPY 2648110 187.4584 188 188 18 21 21 4.96 6.63 6.63 0.28 0.28 0.21 0.21 0.11FTSE 100 INDEX GBP 2708977 11778.28 9425 9425 1461 1659 1659 534.87 824.88 824.88 27.99 23.16 18.15 18.15 22.78SWISS MARKET INDEX CHF 1044313 11048.75 4126 4126 868 836 836 409.25 555.77 555.77 21.36 18.19 15.73 15.73 22.49S&P/TSX COMPOSITE INDEX CAD 1583702 16543.48 7831 7831 1857 2073 2073 793.82 866.68 866.68 14.47 14.47 13.26 13.26 24.31S&P/ASX 200 INDEX AUD 1401328 6684.531 2820 2820 622 697 697 248.91 335.95 335.95 21.65 17.37 16.04 16.04 22.89HANG SENG INDEX HKD 1659527 3297.874 1706 1706 360 403 403 271.14 269.04 269.04 1.36 1.46 1.37 1.37 2.96MSCI EM USD 7576270 1402.106 1036 1036 195 195 195 84.43 95.25 95.25 11.96 12.94 10.60 10.60 19.63HEWLETT-PACKARD CO USD 38939 939 1963 28 0 0 11 54.97 120357 118680 113062 111769 14384 14026 3445 3445 0.31 0.21 3.44 3.58 95.38 95.38 5.82 5.59 -5.41 0.09 -12.15 3.69 11.82 BBB+ 30.11.2011 Baa1 28.11.2012HJ HEINZ CO USD 23257 69 320 5 0 0 1 27.22 11649 11601 11640 12040 1794 1919 659 659 3.35 3.56 3.58 3.81 20.31 20.31 20.25 19.01 8.80 2.60 -7.85 0.93 16.54 BBB+ *- 14.02.2013 Baa2 *- 14.02.2013HOME DEPOT INC USD 109438 286 1484 11 0 0 2 117.74 74754 74754 76920 80427 9450 9450 2335 2335 3.10 3.07 3.53 4.12 24.00 24.00 20.87 17.87 6.19 1.22 13.27 0.65 12.64 A- 16.11.2011 A3 30.08.2011HONEYWELL INTERNATIONAL INC USD 58867 260 783 7 0 0 5 61.68 37665 37686 39172 41451 5082 5220 1712 1712 4.84 4.95 4.95 5.53 15.12 15.12 15.11 13.53 3.11 1.38 43.93 2.19 13.85 A 03.07.2001 A2 12.10.2001INTEL CORP USD 115267 2868 4944 13 0 0 23 106.73 53341 53015 53546 55881 22160 21148 4604 4604 2.13 2.00 1.92 2.03 11.65 11.65 12.16 11.49 -1.22 8.14 -5.87 10.34 39.89 A+ 17.02.1993 A1 14.09.2011INTL BUSINESS MACHINES CORP USD 213561 231 1117 33 0 0 11 235.09 104507 103242 103589 106373 25119 25121 6332 6332 15.25 15.52 16.69 18.34 12.35 12.35 11.48 10.45 -2.25 -0.66 0.07 6.06 24.04 AA- 30.05.2012 Aa3 23.11.2010JOHNSON & JOHNSON USD 237692 424 2778 16 0 0 21 232.77 67224 68590 70938 73794 20698 20698 5713 5713 5.10 5.19 5.41 5.78 16.37 16.37 15.71 14.72 3.37 1.71 7.18 2.84 30.79 AAA 17.09.1987 Aaa 10.08.1987JPMORGAN CHASE & CO USD 183351 652 3804 696 9 0 472 108184 106713 99662 102507 - - - - 6.04 5.97 5.63 5.94 8.10 8.10 8.59 8.14 -2.39 0.82 - - - A 29.11.2011 A2 21.06.2012LOCKHEED MARTIN CORP USD 31568 116 321 6 0 0 2 34.81 47182 46959 44956 43822 5470 5515 1335 1335 10.19 10.49 8.97 9.03 9.33 9.33 10.91 10.84 1.47 2.13 6.75 0.46 11.74 A- 27.04.2007 Baa1 26.01.2006LOWES COS INC USD 41200 308 1110 9 0 0 1 49.61 50521 50521 52396 54326 5183 5182 1424 1424 1.69 1.74 2.09 2.53 21.75 21.75 18.08 14.94 0.62 1.41 6.73 -3.42 10.26 A- 19.09.2012 A3 14.11.2011MASTERCARD INC-CLASS A USD 65436 15 123 0 0 0 5 60.44 7391 7391 8263 9276 4187 4187 1182 1182 22.04 22.05 25.42 30.12 24.17 24.17 20.97 17.69 10.08 12.15 13.87 27.78 56.65 A- 19.08.2011 - -MCDONALDS CORP USD 100881 289 1003 14 0 0 2 112.18 27567 27626 28608 30193 10101 10101 2608 2608 5.37 5.39 5.72 6.27 18.66 18.66 17.59 16.06 2.08 3.57 1.61 8.06 36.64 A 08.05.2003 A2 17.12.2010MEDTRONIC INC USD 47101 159 1037 11 0 0 3 56.06 16184 16427 16517 17010 5680 5616 1588 1588 3.22 3.51 3.69 3.86 13.24 13.24 12.58 12.05 4.36 3.47 5.69 5.58 34.19 A+ 14.02.2012 A2 14.03.2013MERCK & CO. INC. USD 146887 1231 3027 21 0 2 16 153.76 47267 47268 46114 46871 16855 17488 3571 3571 3.65 3.82 3.63 3.83 12.72 12.72 13.37 12.70 -1.62 16.18 -0.94 16.19 37.00 AA 24.11.2010 Aa3 05.11.2009METLIFE INC USD 41414 349 1092 27 2 1 16 54.83 68150 68150 70029 72063 - - - - 5.28 5.27 5.28 5.65 7.19 7.19 7.17 6.70 -2.98 15.20 - - - A- 06.08.2010 A3 16.12.2009MICROSOFT CORP USD 258216 3276 8381 12 0 0 63 197.93 73723 76012 78769 84913 30923 30645 8701 8701 2.73 2.68 2.77 3.08 11.54 11.54 11.15 10.03 5.40 7.53 3.33 9.15 40.32 AAA 22.09.2008 Aaa 11.05.2009MONDELEZ INTERNATIONAL INC-A USD 56443 700 1778 19 0 0 4 71.53 35015 48783 36487 38535 5028 7727 1371 1371 1.39 2.24 1.56 1.76 14.17 14.17 20.29 18.05 -2.22 0.57 1.00 -0.96 15.84 BBB 02.02.2010 Baa2 02.02.2010MONSANTO CO USD 55413 84 534 2 0 0 4 53.08 13504 14740 15150 16169 3760 4321 1487 1487 3.70 4.77 4.61 5.31 21.76 21.76 22.50 19.58 14.23 8.21 20.67 14.20 29.31 A+ 21.10.2008 A1 21.02.2012MORGAN STANLEY USD 42368 397 1974 451 2 8 47 455.45 32036 33168 31901 34097 8020 8293 - - 1.58 1.57 2.05 2.54 13.76 13.76 10.56 8.49 -18.15 3.15 -44.32 -33.50 25.65 A- 29.11.2011 Baa1 21.06.2012NATIONAL OILWELL VARCO INC USD 28653 147 427 3 0 0 3 28.60 20041 20041 22783 24456 4185 4185 1045 1045 5.91 5.90 5.96 6.85 11.38 11.38 11.28 9.81 36.72 18.90 19.85 13.13 20.88 A 25.04.2012 A2 14.05.2012NEWS CORP-CL A USD 73030 651 2383 15 1 10 83.18 33706 34333 35733 38032 6646 6754 1688 1688 1.41 1.57 1.67 1.96 19.99 19.99 18.76 16.04 0.90 2.06 8.36 4.21 19.67 BBB+ 30.11.2012 - -NIKE INC -CL B USD 55100 148 916 0 0 0 4 51.38 24128 25281 25342 27488 3413 3521 994 994 2.38 2.53 2.67 3.06 24.38 24.38 23.08 20.18 15.66 6.47 8.35 7.28 13.93 A+ 10.06.2005 A1 29.04.2008NORFOLK SOUTHERN CORP USD 23575 138 314 9 0 0 1 31.37 11040 10989 11287 12006 4046 3994 1091 1091 5.37 5.36 5.59 6.38 13.96 13.96 13.39 11.73 -1.18 2.92 -0.88 3.72 36.35 BBB+ 18.07.2005 Baa1 06.05.1997OCCIDENTAL PETROLEUM CORP USD 66796 154 806 8 0 0 2 72.86 24172 24172 26160 26510 13701 13701 3720 3720 7.09 7.09 7.08 7.55 11.69 11.69 11.71 10.98 0.97 4.02 -3.30 6.01 56.68 A 23.06.2008 A1 19.04.2012ORACLE CORP USD 153238 1487 4905 16 0 0 31 140.02 37121 37149 37423 39512 16973 17286 5889 5889 2.00 2.16 2.69 2.93 15.06 15.06 12.10 11.10 4.21 11.70 9.33 18.51 46.53 A+ 24.04.2012 A1 24.06.2011PEPSICO INC USD 129219 228 1544 28 0 0 7 151.76 65492 65645 67746 71006 11801 11733 3440 3440 4.10 4.11 4.42 4.78 20.32 20.32 18.90 17.47 -1.52 9.06 -4.60 6.54 17.87 A 17.03.2010 Aa3 24.02.2010PFIZER INC USD 221749 1313 7276 37 0 0 33 226.96 58986 59506 57140 56427 27270 26532 6776 6776 2.19 2.21 2.27 2.39 13.96 13.96 13.58 12.91 -9.61 3.95 -9.21 6.42 44.59 AA 16.10.2009 A1 15.10.2009PHILIP MORRIS INTERNATIONAL USD 154908 207 1654 23 0 2 3 178.11 31377 31513 32295 33995 14827 14603 3967 3967 5.22 5.24 5.62 6.27 18.00 18.00 16.77 15.03 0.90 5.33 2.72 8.64 46.34 A 05.03.2008 A2 11.09.2008PROCTER & GAMBLE CO/THE USD 212714 1575 2748 30 1 1 4 239.06 83680 83724 84591 87505 18072 17876 4160 4160 3.85 4.01 4.06 4.37 19.42 19.42 19.17 17.85 1.36 0.76 -3.13 -0.55 21.35 AA- 10.05.2005 Aa3 01.07.2005QUALCOMM INC USD 113826 809 1706 0 0 0 27 85.51 19121 20458 24158 26920 6579 7149 2463 2463 2.79 3.84 4.54 4.93 17.25 17.25 14.60 13.43 27.84 20.60 8.08 15.03 34.94 NR 19.12.2001 - -RAYTHEON COMPANY USD 18860 87 328 5 0 0 4 19.71 24414 24414 23806 23344 3444 3444 749 749 6.20 6.22 5.31 5.53 9.29 9.29 10.88 10.46 -1.52 1.56 5.19 4.99 14.11 A- 04.09.2008 A3 17.10.2011SCHLUMBERGER LTD USD 96805 421 1328 12 0 0 6 102.34 42149 42931 45719 50928 11020 11055 2982 2982 4.16 4.15 4.67 5.68 17.53 17.53 15.57 12.81 14.04 13.40 12.52 5.53 25.80 A+ 11.12.2002 A1 03.06.2003SIMON PROPERTY GROUP INC USD 54472 45 310 23 0 1 1 77.60 4880 4880 5177 5440 3491 3483 933 933 4.72 4.74 3.51 4.09 37.07 37.07 50.11 43.00 13.32 5.52 15.76 7.34 71.37 A- 10.05.2010 - -SOUTHERN CO/THE USD 41717 433 868 22 1 0 1 64.60 16537 16830 17736 18403 6589 6589 1563 1563 2.65 2.73 2.76 2.89 17.55 17.55 17.36 16.57 -6.34 1.48 4.94 6.49 39.84 A 21.12.2000 Baa1 12.08.2010STARBUCKS CORP USD 44463 262 749 1 0 0 2 42.56 13300 13663 14930 16722 2367 2446 689 689 1.79 1.86 2.17 2.62 31.90 31.90 27.38 22.64 13.67 6.80 14.11 10.50 17.90 A- 24.02.2012 Baa3 13.05.2009TARGET CORP USD 44673 241 645 18 0 0 1 61.54 73301 73301 75155 79905 7352 7353 1649 1649 4.76 4.56 4.90 5.50 15.27 15.27 14.22 12.67 4.92 2.75 -1.36 1.19 10.03 A+ 20.11.2007 A2 27.11.2007TEXAS INSTRUMENTS INC USD 39397 810 1108 6 0 0 4 41.22 12825 12589 12217 12888 3986 3908 943 943 1.91 1.80 1.80 2.21 19.73 19.73 19.73 16.05 -6.63 1.54 -10.10 -2.68 31.04 A+ 23.09.2010 A1 25.05.2011TIME WARNER INC USD 56321 110 932 20 0 0 3 73.35 28729 28729 29726 31060 7106 7106 1648 1648 3.36 3.37 3.68 4.27 17.89 17.89 16.37 14.11 -0.85 -5.96 3.33 -18.04 24.73 BBB 27.03.2009 Baa2 06.03.2006UNION PACIFIC CORP USD 68402 62 469 9 0 0 1 76.35 20926 21104 22269 23904 8505 8635 2316 2316 8.24 8.49 9.52 10.88 17.26 17.26 15.40 13.47 7.00 5.33 15.86 12.61 40.92 A- 23.04.2012 Baa1 26.10.2012UNITED PARCEL SERVICE-CL B USD 78802 249 953 13 0 0 8 83.83 54127 54127 56762 60184 3201 3201 2013 2013 4.53 4.53 4.99 5.70 18.39 18.39 16.71 14.62 1.92 1.83 -59.29 6.62 5.91 A+ 21.09.2012 Aa3 16.01.2013UNITED TECHNOLOGIES CORP USD 84175 286 919 23 0 1 5 103.86 57708 59691 64726 68379 9208 9625 2830 2830 5.40 5.60 6.11 6.98 16.39 16.39 15.03 13.16 3.50 1.05 1.09 2.29 16.12 A 02.10.2003 A2 22.04.1993UNITEDHEALTH GROUP INC USD 60573 327 1019 17 0 2 11 67.75 110618 113676 122595 133548 10563 10425 2458 2458 5.28 5.13 5.45 5.85 11.52 11.52 10.85 10.11 8.60 8.38 10.17 4.09 9.17 A 24.09.2012 A3 21.07.2011US BANCORP USD 61156 297 1869 52 5 1 8 22202 22007 20024 20626 - - - - 2.87 2.93 3.04 3.25 11.20 11.20 10.78 10.11 3.58 0.22 - - - A+ 20.08.2012 A1 06.12.2012VERIZON COMMUNICATIONS INC USD 146798 759 2859 52 52 4 247.82 115846 117024 120534 125264 29620 30737 10596 10596 2.91 3.00 2.80 3.21 17.13 17.13 18.36 15.98 4.48 4.38 0.83 -0.97 26.27 A- 06.12.2010 A3 29.10.2008VISA INC-CLASS A SHARES USD 110416 92 811 0 0 0 6 104.23 10421 10720 11581 12900 6572 6769 1852 1852 6.20 6.52 7.34 8.51 25.63 25.63 22.77 19.64 13.42 13.86 14.28 37.44 63.14 A+ 20.05.2008 - -WAL-MART STORES INC USD 260926 295 3314 54 0 5 8 312.68 469162 469162 491789 514317 36302 36302 8036 8036 5.02 5.02 5.35 5.88 15.79 15.79 14.82 13.48 4.97 3.61 4.65 5.13 7.74 AA 09.07.1999 Aa2 06.03.1996WALGREEN CO USD 46446 299 944 5 0 0 1 50.37 71633 70788 72615 75965 4630 4516 1492 1492 2.53 2.41 3.26 3.71 20.34 20.34 15.02 13.22 -0.76 3.97 -8.48 3.89 6.38 BBB 02.08.2012 Baa1 02.08.2012WALT DISNEY CO/THE USD 112244 318 1780 14 0 2 3 128.84 42278 42840 45161 47974 10850 - 2750 2750 3.13 3.09 3.45 3.89 20.15 20.15 18.04 15.99 3.39 1.83 12.76 5.45 - A 22.12.2009 A2 23.05.2007WELLS FARGO & CO USD 196796 592 5266 185 13 1 159 91247 90651 84755 86148 - - - - 3.39 3.56 3.71 3.92 10.45 10.45 10.03 9.50 4.17 14.16 - - - A+ 29.11.2011 A2 21.09.2011WILLIAMS COS INC USD 26035 131 681 11 0 3 1 38.61 7486 7517 8117 9196 2368 2382 675 675 1.21 1.12 0.97 1.39 34.11 34.11 39.38 27.53 -5.60 -3.35 -31.97 -4.73 31.69 BBB 05.03.2012 Baa3 15.11.2007Valuation Measures I/IIMarket Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA GrowthQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  4. 4. 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 2.21 2.21 2.02 1.84 2.21 1.42 1.42 1.36 1.30 1.42 9.87 9.87 9.26 9.54 9.87 8.83 8.83 8.15 7.63 8.83 14.28 14.28 12.81 11.63 14.28 2.19 2.19 2.35 2.54 2.19 1713.4 8.5%Euro Stoxx 50 Pr 1.16 1.16 1.10 1.03 1.16 0.75 0.75 0.72 0.70 0.75 5.53 5.53 5.16 4.79 5.53 7.05 7.05 6.67 6.34 7.05 11.28 11.28 10.09 9.21 11.27 4.28 4.28 4.60 4.91 4.28 2912.8 8.9%NIKKEI 225 1.57 1.57 1.47 1.42 1.57 0.74 0.74 0.72 0.71 0.74 9.10 9.10 8.47 8.23 9.10 8.77 8.77 8.17 7.84 8.77 20.95 20.95 16.44 14.59 20.95 1.49 1.49 1.72 1.87 1.49 12967.3 -6.3%FTSE 100 INDEX 1.69 1.69 1.57 1.36 1.69 1.04 1.04 1.00 0.98 1.04 8.31 8.31 7.55 6.02 8.31 7.10 7.10 6.66 6.32 7.10 11.88 11.88 10.76 9.89 11.88 3.90 3.90 4.19 4.59 3.90 6894.5 7.5%SWISS MARKET INDEX 2.37 2.37 2.23 2.03 2.37 2.01 2.01 1.90 1.82 2.01 12.26 12.26 11.26 10.01 12.26 13.22 13.22 12.23 11.44 13.22 14.89 14.89 13.33 12.11 14.89 3.29 3.29 3.66 4.17 3.29 8232.9 5.2%S&P/TSX COMPOSITE INDEX 1.61 1.61 1.49 1.39 1.61 1.50 1.50 1.42 1.36 1.50 8.07 8.07 7.27 6.73 8.07 7.98 7.98 7.09 6.67 7.98 13.60 13.60 12.04 11.06 13.60 3.29 3.29 3.45 3.67 3.29 14426.1 19.3%S&P/ASX 200 INDEX 1.93 1.93 1.83 1.73 1.93 1.86 1.86 1.75 1.66 1.86 11.50 11.50 10.23 9.33 11.50 9.59 9.59 8.47 7.83 9.59 15.61 15.61 13.94 12.80 15.61 4.27 4.27 4.58 4.94 4.27 5161.4 1.2%HANG SENG INDEX 1.32 1.32 1.21 1.11 1.32 1.68 1.68 1.55 1.43 1.68 7.92 7.92 7.44 7.10 7.92 8.18 8.18 7.46 6.90 8.18 10.62 10.62 9.75 8.81 10.62 3.64 3.64 3.93 4.35 3.64 24850.7 12.0%MSCI EM 1.41 1.41 1.28 1.19 1.41 0.98 0.98 0.91 0.87 0.98 6.87 6.87 6.34 5.99 6.87 7.18 7.18 6.56 6.23 7.18 10.60 10.60 9.52 8.91 10.60 3.15 3.15 3.61 3.52 3.15 1179.5 16.8%3M CO 4.28 3.84 3.40 3.02 2.49 2.36 2.24 2.12 14.52 12.81 11.82 9.87 9.66 9.10 8.47 7.86 17.03 15.75 14.43 13.20 2.20 2.35 2.53 2.56 110.67 2.9%ABBOTT LABORATORIES 2.29 2.54 2.34 2.09 1.47 2.60 2.45 2.19 2.16 6.49 15.99 14.63 12.52 13.91 5.07 12.28 11.34 10.14 8.58 7.34 18.61 16.43 14.79 13.17 2.10 1.52 1.70 1.91 2.10 37.80 1.8%ABBVIE INC 25.86 13.37 9.14 6.84 3.87 3.85 3.76 3.54 3.33 10.44 11.75 11.84 11.13 10.17 10.72 11.01 10.87 10.07 9.36 11.97 14.40 13.94 12.60 11.29 3.57 3.57 3.67 3.86 4.64 43.67 -2.7%ACCENTURE PLC-CL A 10.98 8.95 7.23 6.45 1.92 1.84 1.72 1.62 1.49 15.27 13.21 13.33 12.20 11.02 9.96 9.53 8.97 8.32 20.13 17.94 16.52 15.32 1.67 2.10 2.31 2.42 79.63 3.2%ALLSTATE CORP 1.18 1.09 1.00 0.91 0.72 0.71 0.69 0.69 13.48 10.51 9.64 9.01 1.77 1.96 2.08 2.17 52.83 6.1%ALTRIA GROUP INC 18.51 17.26 16.07 14.65 4.13 4.06 3.98 4.02 20.73 17.07 15.81 14.31 10.97 10.73 10.30 10.04 16.19 14.91 13.91 13.08 4.79 5.16 5.59 6.01 36.25 1.5%AMAZON.COM INC 15.92 13.09 10.69 8.12 6.44 1.96 1.61 1.31 1.08 0.88 41.33 29.11 19.63 14.66 7.90 35.71 24.84 18.11 13.20 9.27 139.33 77.51 46.50 26.55 17.80 0.00 0.00 0.00 0.00 315.00 17.7%AMERICAN ELECTRIC POWER 1.61 1.54 1.48 1.42 1.59 1.55 1.52 1.54 1.55 7.30 6.97 7.16 7.24 8.96 8.91 8.63 8.65 14.78 16.64 16.03 15.27 14.71 14.30 3.71 3.82 3.99 4.16 4.33 50.56 -0.1%AMERICAN EXPRESS CO 3.89 3.69 3.36 3.36 2.34 2.24 2.12 1.98 15.42 14.05 12.64 11.32 1.18 1.32 1.45 1.60 68.65 2.1%AMGEN INC 4.11 3.45 3.03 2.64 4.57 4.39 4.28 4.26 4.24 12.76 14.21 12.94 14.52 27.75 10.94 11.04 9.86 9.60 16.19 14.47 12.72 12.19 11.89 1.36 1.78 2.18 2.40 2.26 109.18 3.8%ANADARKO PETROLEUM CORP 1.97 1.76 1.57 1.36 3.15 2.78 2.48 2.28 2.19 5.58 5.19 4.63 3.84 4.10 6.48 5.55 4.91 4.40 4.35 24.71 19.89 15.83 14.03 13.60 0.44 0.44 0.44 0.44 107.63 30.1%APACHE CORP 0.90 0.80 0.72 0.69 1.64 1.57 1.46 1.40 2.88 2.84 2.60 2.33 3.37 3.28 3.04 2.97 7.42 7.75 7.15 7.07 0.99 1.12 1.14 1.17 98.88 38.9%APPLE INC 3.21 2.64 2.28 1.80 1.32 2.40 2.12 1.93 1.73 1.55 7.29 6.83 6.62 6.11 4.07 4.15 3.77 3.40 2.80 9.04 9.53 8.68 7.87 8.65 0.66 2.77 3.01 3.31 2.65 543.52 35.8%AT&T INC 2.14 2.30 2.22 2.19 2.43 1.57 1.55 1.52 1.49 1.47 6.17 6.01 5.90 5.78 6.48 6.43 6.19 5.95 5.70 15.63 14.60 13.54 12.70 11.72 4.81 4.93 5.04 5.19 5.32 37.45 1.9%BAKER HUGHES INC 1.14 1.08 1.00 0.92 0.94 0.91 0.84 0.79 7.94 6.90 5.67 5.40 6.20 6.07 5.06 4.53 14.01 14.65 10.96 9.35 1.41 1.34 1.34 1.37 50.27 12.1%BANK OF AMERICA CORP 0.60 0.58 0.54 0.52 0.47 1.52 1.46 1.43 1.39 1.36 29.49 11.35 8.63 7.60 21.14 11.86 9.24 8.11 6.21 0.32 0.49 1.57 2.48 4.90 13.05 6.6%BANK OF NEW YORK MELLON CORP 0.90 0.87 0.83 0.80 2.21 2.18 2.08 1.99 12.02 10.82 9.84 8.64 12.98 12.27 10.82 9.73 1.88 2.13 2.44 2.81 29.33 6.1%BAXTER INTERNATIONAL INC 5.15 4.61 3.83 3.23 3.00 2.67 2.44 2.24 2.14 2.03 12.78 11.85 10.11 9.40 9.14 10.24 9.61 8.61 8.09 7.50 15.38 14.94 13.48 12.36 11.22 2.07 2.49 2.63 2.96 3.32 76.08 9.3%BERKSHIRE HATHAWAY INC-CL B 119.00 11.5%BOEING CO/THE 8.39 7.93 7.30 5.65 0.84 0.82 0.75 0.74 0.70 13.24 11.03 9.00 9.90 8.37 8.20 7.27 6.96 18.15 14.29 12.76 11.65 10.85 1.93 2.07 2.29 2.43 93.95 3.2%BRISTOL-MYERS SQUIBB CO 4.37 5.14 4.88 4.72 3.91 4.15 3.85 3.81 3.58 15.02 17.84 15.54 16.75 13.24 16.69 13.91 14.60 12.59 21.35 22.80 19.43 19.91 18.05 3.26 3.35 3.41 3.49 3.65 38.77 -7.3%CAPITAL ONE FINANCIAL CORP 0.81 0.75 0.70 0.67 1.53 1.49 1.50 1.44 7.82 9.10 8.56 8.44 8.01 0.36 1.73 2.55 2.84 64.65 14.8%CATERPILLAR INC 3.07 2.72 2.29 1.97 0.84 0.93 0.86 0.81 0.54 6.98 7.76 6.92 6.08 5.41 6.78 5.92 5.30 9.25 11.80 10.13 8.77 2.34 2.34 2.54 2.70 99.70 18.7%CHEVRON CORP 1.70 1.54 1.39 1.28 1.16 0.97 0.96 0.99 0.91 0.84 6.18 5.78 5.57 5.16 4.60 3.91 3.95 3.87 3.75 3.50 9.59 9.51 9.40 9.06 8.47 2.97 3.17 3.37 3.56 3.64 131.10 10.9%CISCO SYSTEMS INC 2.07 1.87 1.73 1.64 2.36 2.23 2.11 1.98 9.77 9.06 8.78 8.16 5.45 5.20 5.04 4.84 11.11 10.21 9.66 8.95 1.28 2.80 2.98 3.30 23.97 17.6%CITIGROUP INC 0.73 0.71 0.66 0.61 2.00 1.80 1.76 1.68 13.60 9.45 8.35 7.48 11.48 9.96 8.80 7.62 0.09 0.28 1.31 2.40 53.50 14.3%COCA-COLA CO/THE 5.91 5.73 5.38 5.06 3.93 3.88 3.70 3.52 3.33 17.50 16.68 15.09 13.82 12.85 15.41 14.71 13.73 12.73 11.85 21.24 19.75 18.13 16.71 15.15 2.41 2.63 2.82 3.13 3.22 46.06 8.3%COLGATE-PALMOLIVE CO 9.97 25.72 23.95 16.53 3.26 3.15 2.99 2.82 2.63 18.86 17.73 16.05 14.54 13.16 13.71 13.21 12.16 11.34 10.04 22.27 20.92 18.93 17.21 15.60 2.01 2.23 2.42 2.69 3.04 117.65 -1.4%COMCAST CORP-CLASS A 2.17 2.15 2.06 1.86 1.91 1.71 1.67 1.57 1.51 1.44 7.80 7.25 6.65 6.10 7.70 7.25 6.83 6.46 6.15 20.72 17.28 15.11 12.99 11.17 1.56 1.89 2.15 2.42 2.51 46.43 13.8%CONOCOPHILLIPS 1.34 1.29 1.20 1.09 1.15 1.30 1.24 1.28 5.28 4.73 4.39 4.35 4.23 3.86 4.10 3.79 3.83 4.11 10.22 10.62 9.68 9.78 9.39 4.57 4.61 4.74 4.78 4.53 63.07 8.2%COSTCO WHOLESALE CORP 3.59 4.27 3.84 3.28 3.23 0.48 0.44 0.41 0.39 0.36 13.99 14.91 13.59 13.14 12.68 11.37 10.35 9.49 8.80 27.94 23.76 21.50 19.69 17.74 0.92 6.69 1.17 1.33 1.21 108.91 0.7%CVS CAREMARK CORP 1.95 1.85 1.76 1.66 0.58 0.57 0.55 0.54 0.51 12.15 10.54 9.59 8.73 8.93 8.20 7.74 7.48 6.74 17.05 14.63 13.16 11.77 10.74 1.12 1.48 1.76 2.30 60.20 3.8%DEVON ENERGY CORPORATION 0.98 0.94 0.85 0.78 2.47 2.21 1.95 1.89 4.61 4.32 3.62 3.17 5.34 4.68 3.97 3.70 16.55 15.19 11.01 9.96 1.36 1.57 1.63 1.66 70.88 32.7%DOW CHEMICAL CO/THE 1.72 1.79 1.66 1.53 0.68 0.65 0.62 0.60 0.57 7.98 7.79 6.26 5.70 8.09 7.31 6.59 6.20 5.44 16.63 13.63 10.93 9.17 8.20 3.83 4.08 4.22 4.31 35.67 11.5%EBAY INC 3.46 2.99 2.55 2.21 1.86 4.92 4.24 3.64 3.09 2.73 17.79 14.57 12.78 10.67 9.47 13.85 11.92 10.28 8.56 7.41 22.66 19.45 16.51 14.09 12.31 0.00 0.00 0.00 0.00 63.81 19.7%DU PONT (E.I.) DE NEMOURS 4.81 3.66 3.02 2.79 1.39 1.34 1.26 1.19 1.11 12.13 10.56 9.06 8.24 8.73 8.14 7.62 6.88 6.64 16.00 13.52 12.07 10.63 9.84 3.21 3.32 3.51 3.59 3.27 54.00 2.6%ELI LILLY & CO 4.08 3.75 3.64 3.48 2.87 2.80 3.24 3.15 2.96 12.93 10.98 14.84 13.68 10.34 9.54 12.57 11.75 11.59 17.12 14.59 20.23 18.06 15.60 3.44 3.44 3.45 3.45 3.44 56.00 -1.7%EMC CORP/MA 2.12 1.86 1.68 1.40 2.19 2.03 1.87 1.70 1.55 8.29 7.47 6.70 7.07 6.98 6.04 5.60 5.19 13.36 12.17 10.94 9.82 7.83 0.00 0.00 0.00 0.00 29.85 32.0%EMERSON ELECTRIC CO 3.69 3.54 3.17 2.77 1.63 1.58 1.50 1.41 12.24 11.62 10.61 9.82 8.89 8.54 7.91 7.47 16.49 15.35 13.81 12.45 2.90 2.97 3.18 3.46 61.67 11.9%EXELON CORP 1.43 1.36 1.33 1.27 1.58 1.31 1.23 1.24 1.24 1.09 6.10 6.46 6.60 6.47 6.80 8.00 7.98 8.16 7.82 7.57 12.90 14.83 15.94 15.43 14.29 5.68 4.04 3.58 3.55 4.52 34.63 -6.3%EXXON MOBIL CORP 2.45 2.22 2.04 1.84 1.66 0.87 0.92 0.91 0.92 0.92 7.57 7.35 7.02 6.53 5.61 4.69 5.09 4.97 4.67 4.53 11.37 11.24 10.97 10.40 9.40 2.42 2.66 2.85 3.05 3.28 94.37 5.5%FEDEX CORP 1.76 1.92 1.69 1.49 1.12 0.70 0.68 0.64 0.61 0.58 6.76 7.32 6.34 5.53 5.43 5.31 4.56 3.95 3.48 14.60 15.59 12.59 10.44 9.04 0.55 0.59 0.66 0.79 0.85 113.92 20.0%FORD MOTOR CO 2.62 2.37 1.94 1.54 1.29 0.41 0.38 0.36 0.34 0.34 7.95 5.74 4.93 4.26 4.21 4.20 3.89 3.42 2.89 2.48 9.89 9.37 7.80 6.64 6.10 1.67 3.01 3.09 3.28 3.58 15.00 13.0%FREEPORT-MCMORAN COPPER 1.55 1.33 1.17 1.09 1.55 1.28 1.19 1.14 1.15 6.07 4.40 3.62 3.68 4.64 3.51 3.00 2.98 2.52 9.32 7.95 6.94 7.36 5.15 4.17 4.23 4.31 4.33 4.23 38.33 29.8%GENERAL DYNAMICS CORP 1.72 1.98 1.84 1.69 0.77 0.79 0.80 0.80 0.79 8.39 8.42 7.73 7.83 5.72 6.10 5.95 5.90 5.69 10.14 10.55 9.89 9.41 9.55 2.84 3.03 3.40 3.53 75.50 7.3%GENERAL ELECTRIC CO 1.83 1.79 1.68 1.63 1.54 1.52 1.46 1.42 10.59 9.99 8.55 7.72 8.28 7.41 6.87 6.41 14.44 13.00 11.94 10.99 3.17 3.56 3.97 4.29 25.80 18.9%GILEAD SCIENCES INC 7.70 6.22 4.93 3.73 8.23 7.28 6.03 4.84 4.05 24.44 23.41 14.29 8.70 17.95 17.78 12.64 9.21 10.82 25.85 24.81 17.23 11.80 8.97 0.00 0.00 0.00 0.00 60.59 17.3%GOLDMAN SACHS GROUP INC 1.01 0.92 0.84 0.79 2.10 2.01 1.97 2.01 9.35 7.87 7.64 7.28 11.78 10.04 9.42 8.92 1.28 1.39 1.49 1.55 157.87 9.9%GOOGLE INC-CL A 3.78 3.18 2.68 2.21 1.92 6.48 5.68 4.89 4.28 3.83 16.87 14.80 12.49 10.61 9.53 12.17 10.46 8.86 7.60 6.65 20.52 17.63 15.29 12.90 11.23 0.00 0.00 0.00 0.00 895.83 9.9%HALLIBURTON CO 2.43 2.15 1.83 1.54 1.35 1.29 1.17 1.08 9.27 8.07 6.84 6.11 6.77 6.47 5.37 4.74 13.75 12.87 10.18 8.74 1.02 1.18 1.32 1.50 50.59 23.7%Price to Earnings RatioValuation Measures II/IIEstimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio TargetQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  5. 5. 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 2.21 2.21 2.02 1.84 2.21 1.42 1.42 1.36 1.30 1.42 9.87 9.87 9.26 9.54 9.87 8.83 8.83 8.15 7.63 8.83 14.28 14.28 12.81 11.63 14.28 2.19 2.19 2.35 2.54 2.19 1713.4 8.5%Euro Stoxx 50 Pr 1.16 1.16 1.10 1.03 1.16 0.75 0.75 0.72 0.70 0.75 5.53 5.53 5.16 4.79 5.53 7.05 7.05 6.67 6.34 7.05 11.28 11.28 10.09 9.21 11.27 4.28 4.28 4.60 4.91 4.28 2912.8 8.9%NIKKEI 225 1.57 1.57 1.47 1.42 1.57 0.74 0.74 0.72 0.71 0.74 9.10 9.10 8.47 8.23 9.10 8.77 8.77 8.17 7.84 8.77 20.95 20.95 16.44 14.59 20.95 1.49 1.49 1.72 1.87 1.49 12967.3 -6.3%FTSE 100 INDEX 1.69 1.69 1.57 1.36 1.69 1.04 1.04 1.00 0.98 1.04 8.31 8.31 7.55 6.02 8.31 7.10 7.10 6.66 6.32 7.10 11.88 11.88 10.76 9.89 11.88 3.90 3.90 4.19 4.59 3.90 6894.5 7.5%SWISS MARKET INDEX 2.37 2.37 2.23 2.03 2.37 2.01 2.01 1.90 1.82 2.01 12.26 12.26 11.26 10.01 12.26 13.22 13.22 12.23 11.44 13.22 14.89 14.89 13.33 12.11 14.89 3.29 3.29 3.66 4.17 3.29 8232.9 5.2%S&P/TSX COMPOSITE INDEX 1.61 1.61 1.49 1.39 1.61 1.50 1.50 1.42 1.36 1.50 8.07 8.07 7.27 6.73 8.07 7.98 7.98 7.09 6.67 7.98 13.60 13.60 12.04 11.06 13.60 3.29 3.29 3.45 3.67 3.29 14426.1 19.3%S&P/ASX 200 INDEX 1.93 1.93 1.83 1.73 1.93 1.86 1.86 1.75 1.66 1.86 11.50 11.50 10.23 9.33 11.50 9.59 9.59 8.47 7.83 9.59 15.61 15.61 13.94 12.80 15.61 4.27 4.27 4.58 4.94 4.27 5161.4 1.2%HANG SENG INDEX 1.32 1.32 1.21 1.11 1.32 1.68 1.68 1.55 1.43 1.68 7.92 7.92 7.44 7.10 7.92 8.18 8.18 7.46 6.90 8.18 10.62 10.62 9.75 8.81 10.62 3.64 3.64 3.93 4.35 3.64 24850.7 12.0%MSCI EM 1.41 1.41 1.28 1.19 1.41 0.98 0.98 0.91 0.87 0.98 6.87 6.87 6.34 5.99 6.87 7.18 7.18 6.56 6.23 7.18 10.60 10.60 9.52 8.91 10.60 3.15 3.15 3.61 3.52 3.15 1179.5 16.8%HEWLETT-PACKARD CO 1.18 1.48 1.27 1.03 0.32 0.34 0.35 0.35 4.33 4.13 3.97 3.88 3.39 3.95 4.03 4.09 4.96 5.81 5.59 5.59 2.52 2.58 2.67 2.87 19.29 -3.7%HJ HEINZ CO 6.83 7.44 6.70 5.93 1.99 2.00 1.93 1.84 1.77 17.46 15.89 14.42 13.53 13.50 13.16 12.39 11.69 11.23 21.70 20.25 19.01 17.87 16.27 2.65 2.85 3.02 3.19 70.67 -2.4%HOME DEPOT INC 6.29 6.51 6.59 7.43 8.72 1.47 1.42 1.36 1.31 1.25 17.71 15.28 12.91 12.18 12.38 11.26 10.30 9.77 9.14 24.15 20.87 17.87 15.79 13.96 1.47 2.14 2.47 2.72 3.01 73.26 -0.6%HONEYWELL INTERNATIONAL INC 4.40 3.82 3.22 2.70 1.57 1.50 1.42 1.36 1.26 15.09 12.63 11.53 10.59 9.65 8.92 8.18 7.74 16.69 15.11 13.53 12.35 11.21 2.02 2.20 2.45 2.64 80.91 8.1%INTEL CORP 2.37 2.11 1.93 1.86 2.16 2.15 2.06 2.00 2.08 6.60 6.69 6.09 6.00 4.91 5.11 4.74 4.78 5.18 10.49 12.17 11.49 11.94 11.96 3.73 3.90 3.98 4.15 23.28 -0.1%INTL BUSINESS MACHINES CORP 8.56 8.17 6.50 6.97 10.92 2.05 2.06 2.01 1.96 1.88 10.56 9.17 8.40 7.59 6.70 8.93 8.44 8.01 7.47 7.10 12.67 11.48 10.45 9.48 8.81 1.70 1.82 1.96 2.04 2.56 220.95 15.3%JOHNSON & JOHNSON 3.63 3.22 2.87 2.63 2.40 3.53 3.35 3.22 3.11 2.98 13.84 12.38 11.47 10.95 10.53 10.91 10.17 9.53 9.00 8.39 16.69 15.71 14.72 13.82 12.95 2.76 2.98 3.18 3.40 3.79 87.35 2.8%JPMORGAN CHASE & CO 0.95 0.87 0.81 0.76 1.86 1.84 1.79 1.72 9.78 8.48 8.02 7.21 9.73 8.59 8.14 7.71 2.46 2.99 3.33 3.72 55.95 15.6%LOCKHEED MARTIN CORP 13.35 39.75 22.14 13.23 0.68 0.70 0.72 0.73 0.71 8.35 8.21 8.24 7.97 6.69 6.47 6.48 6.19 5.19 11.60 10.91 10.84 10.01 10.65 4.25 4.78 5.17 5.66 100.92 3.1%LOWES COS INC 3.05 3.21 3.33 3.31 3.73 0.82 0.79 0.76 0.73 0.70 12.74 10.36 8.76 8.57 10.35 9.63 8.79 8.15 7.44 6.80 21.85 18.09 14.94 12.03 10.09 1.62 1.85 2.05 2.57 3.36 40.27 6.4%MASTERCARD INC-CLASS A 9.06 7.70 5.98 5.20 8.84 7.90 7.04 6.21 5.66 23.30 19.22 15.61 14.49 14.48 12.51 10.85 9.51 8.78 24.24 20.96 17.69 14.99 0.20 0.30 0.31 0.43 579.32 8.7%MCDONALDS CORP 7.19 6.32 5.94 5.17 3.32 3.67 3.53 3.34 3.14 2.92 14.71 13.60 12.48 11.45 11.27 10.78 10.12 9.39 8.69 18.93 17.60 16.06 14.48 13.01 2.85 3.13 3.43 3.75 107.00 6.4%MEDTRONIC INC 2.70 2.56 2.26 2.00 1.89 2.89 2.85 2.77 2.69 2.60 10.73 10.33 9.90 9.25 9.15 9.24 9.30 9.02 8.66 8.49 13.49 12.58 12.05 11.32 10.61 2.12 2.27 2.45 2.68 2.97 50.93 9.6%MERCK & CO. INC. 2.60 2.55 2.36 2.19 3.12 3.19 3.13 3.07 2.99 10.32 10.51 10.13 8.64 7.61 8.33 8.09 7.80 6.86 12.78 13.38 12.70 12.05 11.08 3.46 3.52 3.60 3.69 4.31 51.50 6.0%METLIFE INC 0.71 0.68 0.62 0.56 0.61 0.59 0.57 0.55 7.27 7.17 6.70 6.21 2.05 2.54 2.99 3.27 45.00 18.8%MICROSOFT CORP 3.70 3.25 2.65 2.31 3.50 3.28 3.04 2.87 2.91 9.22 8.53 7.62 7.13 6.42 6.16 5.57 5.22 5.38 11.52 11.15 10.03 9.25 2.50 2.92 3.13 3.39 32.62 5.5%MONDELEZ INTERNATIONAL INC-A 1.70 1.67 1.57 1.53 1.61 1.55 1.46 1.37 1.31 120.68 16.28 13.13 11.20 12.76 12.13 11.27 10.38 9.69 22.18 20.29 18.05 15.98 13.95 1.63 1.67 1.85 2.18 2.17 30.74 -3.2%MONSANTO CO 4.64 4.19 3.69 3.21 4.05 3.66 3.43 3.22 3.19 21.04 18.89 16.15 14.35 14.22 12.30 10.96 9.93 9.77 27.93 22.52 19.56 17.29 16.16 1.10 1.43 1.52 1.56 116.82 12.5%MORGAN STANLEY 0.70 0.67 0.63 0.60 1.54 1.33 1.24 1.19 34.82 10.85 8.12 6.84 15.93 10.56 8.49 7.71 0.95 0.98 1.26 1.48 24.95 15.5%NATIONAL OILWELL VARCO INC 1.42 1.27 1.14 1.01 0.94 1.46 1.26 1.17 1.10 1.09 11.81 9.26 8.01 7.79 8.30 6.68 6.34 5.66 5.10 6.08 11.48 11.28 9.81 8.86 8.96 0.70 0.76 0.79 0.85 0.74 85.56 27.4%NEWS CORP-CL A 2.82 2.70 2.51 2.27 1.93 2.15 2.05 1.93 1.84 1.75 17.58 12.03 12.93 11.18 10.75 12.37 11.48 10.27 9.32 8.60 22.36 18.76 16.04 13.47 11.50 0.54 0.57 0.59 0.62 33.41 6.4%NIKE INC -CL B 5.55 4.40 4.09 3.61 5.13 2.28 2.18 2.01 1.87 1.75 24.34 21.34 18.18 15.34 14.72 13.93 12.35 11.06 10.43 25.00 23.08 20.18 17.48 15.59 1.13 1.30 1.46 1.61 62.86 1.9%NORFOLK SOUTHERN CORP 2.38 2.26 2.05 1.87 2.14 2.09 1.96 1.87 1.75 8.04 7.72 7.05 6.98 7.69 7.54 6.88 6.44 5.98 14.20 13.39 11.73 10.42 9.46 2.52 2.74 2.93 3.15 83.05 11.0%OCCIDENTAL PETROLEUM CORP 1.63 1.50 1.37 1.28 2.82 2.55 2.52 2.57 5.94 5.48 5.12 4.58 5.17 4.59 4.26 4.33 11.96 11.71 10.98 10.51 2.65 2.95 3.33 3.52 100.33 21.0%ORACLE CORP 3.68 3.37 2.74 2.32 4.13 4.09 3.88 3.68 3.40 12.23 10.79 10.21 9.38 7.56 7.67 7.00 6.49 13.44 12.10 11.10 10.13 0.74 0.91 0.80 0.90 37.69 15.9%PEPSICO INC 6.05 5.52 5.37 5.27 1.98 1.91 1.82 1.73 1.64 15.26 13.34 12.64 11.13 8.96 12.34 11.71 11.03 10.34 9.43 20.56 18.89 17.47 15.99 14.13 2.54 2.70 2.90 3.11 3.37 86.09 3.0%PFIZER INC 2.84 2.72 2.67 2.51 3.80 3.88 3.93 3.93 3.87 12.10 10.97 9.95 9.31 9.96 7.78 8.25 8.22 8.46 9.01 14.26 13.59 12.90 12.43 11.79 2.84 3.08 3.25 3.38 3.73 31.20 1.1%PHILIP MORRIS INTERNATIONAL 4.92 4.80 4.56 4.36 4.05 15.45 13.97 12.77 12.18 11.94 11.53 10.77 10.10 9.58 18.11 16.77 15.03 13.59 12.61 3.47 3.81 4.23 4.68 5.15 97.47 3.3%PROCTER & GAMBLE CO/THE 3.35 3.35 3.26 3.04 2.54 2.52 2.43 2.33 2.21 16.97 15.49 13.86 12.85 12.91 12.47 11.70 10.96 10.13 20.43 19.20 17.83 16.36 14.81 2.71 2.92 3.15 3.36 3.74 80.70 3.6%QUALCOMM INC 3.45 3.01 2.12 2.34 6.02 4.71 4.23 3.99 16.62 13.55 12.76 12.49 11.66 8.86 8.01 7.25 18.21 14.60 13.43 12.74 1.35 1.54 1.75 2.12 76.25 15.1%RAYTHEON COMPANY 2.21 2.56 2.39 1.92 0.77 0.79 0.81 0.82 0.75 10.57 9.80 10.03 7.91 5.84 6.32 6.27 5.63 10.42 10.88 10.46 8.58 9.46 3.40 3.77 4.15 4.43 56.75 -1.8%SCHLUMBERGER LTD 2.74 2.54 2.19 1.86 2.29 2.12 1.90 1.73 12.07 10.40 8.78 8.42 9.15 8.34 7.28 6.36 17.37 15.57 12.80 11.00 1.51 1.68 1.77 1.87 90.04 23.8%SIMON PROPERTY GROUP INC 8.95 9.59 10.00 10.32 11.34 10.54 10.02 9.94 26.17 24.38 21.46 18.87 21.74 19.76 18.63 16.68 41.62 50.11 43.00 24.93 2.36 2.69 2.92 3.23 3.58 177.00 0.7%SOUTHERN CO/THE 2.18 2.11 2.03 1.94 2.39 2.35 2.27 2.19 1.94 9.29 9.40 9.03 8.63 10.51 10.00 9.48 8.95 8.07 18.27 17.36 16.57 15.76 15.20 4.07 4.22 4.36 4.52 4.70 46.82 -2.3%STARBUCKS CORP 8.36 7.77 6.89 5.65 3.91 3.34 2.98 2.66 2.38 2.09 23.53 19.12 16.60 14.12 16.65 14.01 11.86 10.21 9.28 33.39 27.38 22.64 18.93 16.49 1.17 1.44 1.71 2.07 65.54 10.4%TARGET CORP 2.76 2.61 2.42 2.24 1.96 0.61 0.59 0.56 0.53 0.50 8.66 5.86 7.09 6.60 5.67 8.26 8.40 7.58 7.16 6.64 14.61 14.22 12.67 10.96 9.56 1.89 2.21 2.33 2.95 72.27 3.8%TEXAS INSTRUMENTS INC 3.64 3.53 3.39 3.25 3.08 3.22 3.06 2.93 2.75 13.75 12.34 10.68 10.39 11.78 11.01 9.51 9.10 9.14 21.54 19.73 16.05 14.58 15.44 2.00 2.84 3.04 3.14 35.04 -1.3%TIME WARNER INC 1.82 1.81 1.66 1.49 1.61 1.95 1.89 1.81 1.74 1.65 13.51 11.83 11.08 9.81 10.62 9.80 9.06 8.48 7.90 18.78 16.37 14.11 12.36 10.57 1.73 1.89 2.03 2.13 2.54 61.75 2.5%UNION PACIFIC CORP 3.48 3.17 2.84 2.54 3.26 3.07 2.86 2.71 2.60 11.52 10.08 9.20 8.70 8.94 8.16 7.42 6.86 6.42 17.78 15.40 13.47 12.03 10.91 1.67 1.92 2.13 2.37 156.75 7.0%UNITED PARCEL SERVICE-CL B 10.29 13.49 11.65 11.00 4.27 1.46 1.39 1.31 1.23 1.14 12.58 11.18 9.46 9.42 9.43 8.85 8.10 7.46 6.16 18.17 16.71 14.62 13.00 11.01 2.72 2.96 3.21 3.46 3.90 91.91 10.3%UNITED TECHNOLOGIES CORP 3.30 2.94 2.64 2.32 1.45 1.30 1.23 1.19 1.07 12.99 11.78 10.09 9.14 11.21 9.58 8.76 8.35 17.25 15.04 13.16 11.75 10.49 2.19 2.39 2.59 2.82 102.84 12.0%UNITEDHEALTH GROUP INC 2.03 1.77 1.59 1.44 0.55 0.49 0.45 0.41 9.96 8.72 7.87 7.84 6.70 6.35 5.92 5.87 5.67 11.20 10.85 10.11 9.04 7.49 1.28 1.49 1.56 1.63 69.33 17.3%US BANCORP 1.77 1.62 1.51 1.38 3.02 3.06 2.97 2.82 10.98 10.47 9.82 8.78 11.47 10.79 10.11 9.24 8.64 2.36 2.70 2.99 3.46 37.12 13.1%VERIZON COMMUNICATIONS INC 3.67 4.10 3.72 3.65 1.27 1.22 1.17 1.14 1.10 4.79 4.09 3.91 3.67 6.53 5.95 5.57 5.30 5.10 21.64 18.35 15.98 14.44 13.50 3.93 4.05 4.15 4.30 4.30 53.71 4.7%VISA INC-CLASS A SHARES 3.94 3.73 3.24 2.98 10.64 9.52 8.55 7.59 6.86 23.74 22.29 16.81 16.26 18.04 14.00 12.37 10.75 9.96 27.16 22.77 19.64 17.08 14.96 0.52 0.75 0.84 0.89 174.54 4.4%WAL-MART STORES INC 3.44 3.15 2.90 2.53 2.21 0.56 0.53 0.51 0.47 0.46 10.13 9.35 8.76 7.86 6.79 8.56 8.29 7.83 7.50 7.57 16.12 14.82 13.48 12.19 10.93 2.03 2.36 2.58 2.95 78.21 -1.3%WALGREEN CO 2.64 2.34 2.15 2.04 0.65 0.64 0.61 0.59 0.48 11.86 13.11 12.18 9.38 10.45 9.05 8.21 7.76 5.22 18.97 15.02 13.22 12.24 10.32 1.91 2.20 2.42 2.81 48.94 -0.2%WALT DISNEY CO/THE 2.75 2.64 2.47 2.24 2.39 2.64 2.49 2.34 2.18 2.08 14.22 12.61 11.36 10.13 9.21 11.51 10.51 9.62 8.86 8.42 20.20 18.04 15.99 13.98 12.54 0.96 1.10 1.23 1.27 1.69 62.72 0.9%WELLS FARGO & CO 1.37 1.25 1.16 1.08 2.30 2.32 2.28 2.22 10.43 9.63 9.17 7.97 11.15 10.03 9.50 8.97 8.55 2.36 3.04 3.38 3.78 40.71 9.4%WILLIAMS COS INC 5.03 4.02 4.35 3.52 3.44 3.21 2.83 2.80 14.67 15.19 11.50 11.51 15.32 14.16 11.11 10.59 10.44 34.35 39.39 27.53 25.63 22.88 3.20 3.80 4.59 5.40 5.34 39.20 2.6%Price to Earnings RatioValuation Measures II/IIEstimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio TargetQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  6. 6. 24.04.20133M Co. conducts operations in electronics, telecommunications, industrial,consumer and office, health care, safety, and other markets. The Companysbusinesses share technologies, manufacturing operations, brands, marketingchannels, and other resources. 3M serves customers in countries located aroundthe world.Latest Fiscal Year: 12/2012LTM as of: 12/yy52-Week High (11.04.2013) 108.7152-Week Low (04.06.2012) 81.99Daily Volume107.5352-Week High % Change -1.02% Dividend Yield 2.1952-Week Low % Change 31.15% Beta 0.98% 52 Week Price Range High/Low 95.06% Equity Float 689.13Shares Out 31.01.2013 690.0 Short Int 9.9374194.65 1 Yr Total Return 24.72%Total Debt 6001.00 YTD Return 16.53%Preferred Stock 0.0 Adjusted BETA 0.979Minority Interest 465.0 Analyst Recs 21Cash and Equivalents 5693.00 Consensus Rating 3.857Enterprise Value 74967.65Average Volume 5 Day 758628MMM UN EQUITY YTD Change - Average Volume 30 Day 755019MMM UN EQUITY YTD % CHANGE - Average Volume 3 Month 775414LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+231.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q225269.0 23123.0 26662.0 29611.0 29904.0 29611 29904 31475 33193 7808 79571.76x 2.61x 2.33x 1.95x 2.16x 8.30x 8.52x 2.44x 2.28x 9.95x 9.72x6394.0 5971.0 7038.0 7414.0 7771.0 7414.0 7771.0 8249.4 8866.4 1978.3 2112.36.96x 10.11x 8.84x 7.80x 8.31x 7.80x 8.31x 9.10x 8.47x 9.04x -3460.0 3193.0 4085.0 4283.0 4444.0 4283.0 4444.0 4749.2 5156.8 1151.0 1238.411.13x 17.63x 15.01x 13.71x 14.69x 13.71x 14.62x 15.75x 14.43x 15.75x -EBITDA 7771.00 Long-Term Rating Date 18.03.2009EBIT 6483.00 Long-Term Rating AA-Operating Margin 21.68% Long-Term Outlook STABLEPretax Margin 21.24% Short-Term Rating Date 23.11.1981Return on Assets 13.57% Short-Term Rating A-1+Return on Common Equity 26.94%Return on Capital 20.56% EBITDA/Interest Exp. 40.06Asset Turnover 0.91% (EBITDA-Capex)/Interest Exp. 32.41Net Debt/EBITDA 0.04Gross Margin 47.5% Total Debt/EBITDA 0.77EBITDA Margin 26.0%EBIT Margin 21.7% Total Debt/Equity 34.1%Net Income Margin 14.9% Total Debt/Capital 25.0%Asset Turnover 0.91Current Ratio 2.20 Net Fixed Asset Turnover 3.73Quick Ratio 1.39 Accounts receivable turnover-days 48.52Debt to Assets 17.71% Inventory Days 84.62Tot Debt to Common Equity 34.15% Accounts Payable Turnover Day 38.69Accounts Receivable Turnover 7.54 Cash Conversion Cycle 94.45Inventory Turnover 4.33Fiscal Year Ended3M CoPrice/VolumeValuation Analysis107411.00Current Price (4/dd/yy) Market DataNet IncomeP/EMarket CapitalizationAverage Daily Trading VolumeRelative Stock Price PerformanceTotal RevenueTEV/RevenueEBITDATEV/EBITDAProfitability S&P Issuer RatingsCredit RatiosMargin AnalysisReferenceStructure020406080100120a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13.0 M1.0 M2.0 M3.0 M4.0 M5.0 M6.0 M7.0 M0.05000.010000.015000.020000.025000.030000.035000.02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.002.004.006.008.0010.0012.0014.0016.0001.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash FlowQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  7. 7. 24.04.2013Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeSTATE STREET n/a ULT-AGG 67669888 9.81 (176403) 23.04.2013 Investment AdvisorBLACKROCK n/a ULT-AGG 41038740 5.95 - 22.04.2013 Investment AdvisorVANGUARD GROUP INC VANGUARD GROUP INC 13F 34962057 5.07 588236 31.03.2013 Investment AdvisorSUN LIFE FINANCIAL I n/a ULT-AGG 19002823 2.75 (974867) 31.12.2012 Investment AdvisorT ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 13771070 2 (184132) 31.12.2012 Investment AdvisorSTATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 11131700 1.61 33100 31.12.2012 Insurance CompanyNORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 9940996 1.44 (35455) 31.12.2012 Investment AdvisorBANK OF AMERICA CORP BANK OF AMERICA 13F 8915016 1.29 2510797 31.12.2012 Investment AdvisorWELLS FARGO n/a ULT-AGG 7874449 1.14 (174878) 31.12.2012 Investment AdvisorBANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 7768462 1.13 192599 31.03.2013 Investment AdvisorWELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 7380783 1.07 87111 31.12.2012 Investment AdvisorFIDUCIARY MANAGEMENT FIDUCIARY MANAGEMENT 13F 7094958 1.03 37123 31.12.2012 Investment AdvisorUS BANCORP US BANCORP 13F 6955267 1.01 (408394) 31.03.2013 Investment AdvisorJP MORGAN n/a ULT-AGG 6497326 0.94 721198 31.12.2012 Investment AdvisorFMR LLC n/a ULT-AGG 6497093 0.94 1596070 28.02.2013 Investment AdvisorFIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 5714251 0.83 60000 31.12.2012 Hedge Fund ManagerNORGES BANK NORGES BANK 13F 5326652 0.77 169424 31.12.2012 GovernmentUBS n/a ULT-AGG 4327360 0.63 (247022) 28.02.2013 UnclassifiedGEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 4233480 0.61 (400148) 31.12.2012 Investment AdvisorLONGVIEW PARTNERS (G LONGVIEW PARTNERS (G 13F 4076180 0.59 205112 31.12.2012 Investment AdvisorFirm Name Analyst Recommendation Weighting Change Target Price Date DateBarclays SCOTT R DAVIS equalweight 3 M 104 Not Provided 15.04.2013FBR Capital Markets AJAY K KEJRIWAL outperform 5 M 110 12 month 12.04.2013Sanford C. Bernstein & Co STEVEN E WINOKER market perform 3 M 116 12 month 10.04.2013Edward Jones MATT ARNOLD buy 5 M #N/A N/A Not Provided 09.04.2013Goldman Sachs JOSEPH RITCHIE neutral/neutral 3 N 115 12 month 20.03.2013Morgan Stanley NIGEL COE Overwt/In-Line 5 M 113 12 month 17.03.2013William Blair & Co JOHN C KREGER market perform 3 M 101 12 month 17.03.2013Tigress Financial Partners IVAN FEINSETH buy 5 N #N/A N/A Not Provided 06.03.2013Argus Research Corp NATHANIEL GABRIEL hold 3 M #N/A N/A Not Provided 13.02.2013S&P Capital IQ RICHARD TORTORIELLO buy 5 M 110 12 month 06.02.2013JPMorgan CHARLES STEPHEN TUSA underweight 1 M 97 6 month 28.01.2013Deutsche Bank DAVID I BEGLEITER hold 3 M 108 12 month 25.01.2013Jefferies LAURENCE ALEXANDER buy 5 M 115 12 month 25.01.2013Nomura SHANNON OCALLAGHAN neutral 3 M 105 12 month 25.01.2013Credit Suisse JOHN P MCNULTY neutral 3 M 103 Not Provided 24.01.2013Hilliard Lyons STEPHEN A ONEIL long-term buy 5 M 125 12 month 24.01.2013EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 15.01.2013Langenberg & Co BRIAN KEITH LANGENBERG hold 3 M 100 Not Provided 23.10.2012McAdams Wright Ragen Inc MICHAEL ROARKE focus list 5 N 85 Not Provided 24.04.2009Holdings By:3M CoAllQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  8. 8. 24.04.2013Abbott Laboratories discovers, develops, manufactures, and sells a broad anddiversified line of health care products and services. The Companys productsinclude pharmaceuticals, nutritional, diagnostics, and vascular products. Abbottmarkets its products worldwide through affiliates and distributors.Latest Fiscal Year: 12/2012LTM as of: 03/yy52-Week High (11.04.2013) 37.5552-Week Low (05.06.2012) 28.46Daily Volume37.1452-Week High % Change -1.25% Dividend Yield 3.5052-Week Low % Change 30.50% Beta 0.69% 52 Week Price Range High/Low 96.26% Equity Float 1565.57Shares Out 31.01.2013 1570.7 Short Int 12.7358334.95 1 Yr Total Return 30.80%Total Debt 20475.96 YTD Return 19.45%Preferred Stock 0.0 Adjusted BETA 0.688Minority Interest 92.3 Analyst Recs 27Cash and Equivalents 15173.98 Consensus Rating 3.815Enterprise Value 63729.19Average Volume 5 Day 1751185ABT UN EQUITY YTD Change - Average Volume 30 Day 2078594ABT UN EQUITY YTD % CHANGE - Average Volume 3 Month 2356649LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+231.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q329527.6 30764.7 35166.7 38851.3 39873.9 39266.6 35795.3 22471.6 23812.7 5535.0 5575.93.02x 2.94x 2.49x 2.46x 2.73x 9.66x 9.31x 2.44x 2.21x 10.52x 10.45x8315.9 9212.3 9025.1 9468.3 11155.7 10062.0 9165.4 5193.0 5623.7 936.7 1115.710.73x 9.80x 9.71x 10.11x 9.74x 10.30x 0.00x 12.28x 11.34x 15.50x 15.28x4880.7 5745.8 4626.2 4728.4 5962.9 5107.1 5264.4 3200.7 3432.8 636.4 802.716.08x 14.51x 11.49x 12.07x 12.92x 12.61x 8.10x 18.61x 16.43x 17.82x 17.12xEBITDA 11155.72 Long-Term Rating Date 26.10.2012EBIT 8372.52 Long-Term Rating A+Operating Margin 21.00% Long-Term Outlook STABLEPretax Margin 15.71% Short-Term Rating Date 26.10.2012Return on Assets 9.35% Short-Term Rating A-1+Return on Common Equity 23.31%Return on Capital 14.96% EBITDA/Interest Exp. 18.25Asset Turnover 0.63% (EBITDA-Capex)/Interest Exp. 15.31Net Debt/EBITDA 0.45Gross Margin 62.1% Total Debt/EBITDA 1.72EBITDA Margin 29.9%EBIT Margin 22.3% Total Debt/Equity 76.6%Net Income Margin 15.0% Total Debt/Capital 43.3%Asset Turnover 0.63Current Ratio 2.36 Net Fixed Asset Turnover 5.00Quick Ratio 1.72 Accounts receivable turnover-days 70.20Debt to Assets 30.45% Inventory Days 86.37Tot Debt to Common Equity 76.63% Accounts Payable Turnover Day 41.53Accounts Receivable Turnover 5.21 Cash Conversion Cycle 114.66Inventory Turnover 4.24Profitability S&P Issuer RatingsCredit RatiosMargin AnalysisReferenceStructureNet IncomeP/EMarket CapitalizationAverage Daily Trading VolumeRelative Stock Price PerformanceTotal RevenueTEV/RevenueEBITDATEV/EBITDAFiscal Year EndedAbbott LaboratoriesPrice/VolumeValuation Analysis191287.00Current Price (4/dd/yy) Market Data0510152025303540a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13.0 M2.0 M4.0 M6.0 M8.0 M10.0 M12.0 M14.0 M16.0 M18.0 M0.05000.010000.015000.020000.025000.030000.035000.040000.045000.02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.001.002.003.004.005.006.007.0001.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash FlowQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  9. 9. 24.04.2013Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK n/a ULT-AGG 97567010 6.21 11496654 22.04.2013 Investment AdvisorVANGUARD GROUP INC VANGUARD GROUP INC 13F 91806643 5.85 20933465 31.03.2013 Investment AdvisorSTATE STREET n/a ULT-AGG 89716018 5.71 2523195 23.04.2013 Investment AdvisorCAPITAL GROUP COMPAN n/a ULT-AGG 75358478 4.8 (2293700) 31.03.2013 Investment AdvisorBANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 29915736 1.9 (956473) 31.03.2013 Investment AdvisorNORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 26067769 1.66 (918489) 31.12.2012 Investment AdvisorFMR LLC n/a ULT-AGG 25816792 1.64 1555575 28.02.2013 Investment AdvisorBANK OF AMERICA CORP BANK OF AMERICA 13F 17459656 1.11 (2094242) 31.12.2012 Investment AdvisorJP MORGAN n/a ULT-AGG 16605095 1.06 (2827969) 31.12.2012 Investment AdvisorWELLS FARGO n/a ULT-AGG 15524333 0.99 (1864127) 28.02.2013 Investment AdvisorSTATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 15061000 0.96 - 31.12.2012 Insurance CompanyGRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 14592726 0.93 156217 31.12.2012 Investment AdvisorTIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 14404871 0.92 (338480) 31.12.2012 Investment AdvisorWELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 13409746 0.85 (1857915) 31.12.2012 Investment AdvisorNORGES BANK NORGES BANK 13F 12625176 0.8 1276928 31.12.2012 GovernmentGOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 11768897 0.75 261139 31.12.2012 Investment AdvisorUBS n/a ULT-AGG 11093907 0.71 (127295) 28.02.2013 UnclassifiedGEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 10467807 0.67 (914813) 31.12.2012 Investment AdvisorFRANKLIN RESOURCES n/a ULT-AGG 8699080 0.55 (390744) 31.01.2013 Investment AdvisorMONTAG & CALDWELL IN MONTAG & CALDWELL IN 13F 8264745 0.53 (175391) 31.12.2012 Investment AdvisorFirm Name Analyst Recommendation Weighting Change Target Price Date DateMorgan Stanley DAVID R LEWIS Equalwt/In-Line 3 M #N/A N/A Not Provided 24.04.2013Argus Research Corp DAVID H TOUNG hold 3 M #N/A N/A Not Provided 22.04.2013RBC Capital Markets GLENN J NOVARRO outperform 5 M 38 12 month 19.04.2013Credit Suisse BRUCE NUDELL neutral 3 M 40 Not Provided 19.04.2013Jefferies JEFFREY HOLFORD buy 5 M 43 12 month 19.04.2013Wells Fargo Securities, LLC LAWRENCE BIEGELSEN outperform 5 M #N/A N/A Not Provided 19.04.2013Deutsche Bank KRISTEN M STEWART hold 3 M 35 12 month 18.04.2013William Blair & Co BENJAMIN C ANDREW outperform 5 M #N/A N/A Not Provided 18.04.2013Raymond James JAYSON BEDFORD market perform 3 M #N/A N/A Not Provided 18.04.2013Atlantic Equities LLP STEPHAN B GASTEYGER neutral 3 M 36 12 month 18.04.2013Barclays MATTHEW TAYLOR equalweight 3 M 35 Not Provided 18.04.2013BMO Capital Markets JOANNE K WUENSCH outperform 5 M 40 Not Provided 17.04.2013Goldman Sachs DAVID H ROMAN neutral/neutral 3 M 38 12 month 17.04.2013Edward Jones JEFF WINDAU buy 5 M #N/A N/A Not Provided 17.04.2013Hilliard Lyons STEPHEN A ONEIL long-term buy 5 M 40 12 month 17.04.2013JPMorgan MICHAEL N WEINSTEIN neutral 3 M 36 6 month 17.04.2013Sanford C. Bernstein & Co DERRICK SUNG market perform 3 M 31 12 month 17.04.2013Leerink Swann & Co DANIELLE ANTALFFY market perform 3 M #N/A N/A Not Provided 17.04.2013Stifel FREDERICK A WISE buy 5 M 44 12 month 17.04.2013Cowen and Company DOUG SCHENKEL neutral 3 M #N/A N/A Not Provided 11.04.2013S&P Capital IQ HERMAN SAFTLAS buy 5 M 36 Not Provided 29.11.2012First Global Stockbroking KAVITA THOMAS long-term outperform 5 M #N/A N/A Not Provided 26.04.2012Maxim Group LLC ANTHONY PETRONE not rated #N/A N/A M #N/A N/A Not Provided 27.01.2009Holdings By:Abbott LaboratoriesAllQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  10. 10. 24.04.2013AbbVie Inc. researches and develops pharmaceutical products. The Companyproduces pharmaceutical drugs for specialty therapeutic areas such asimmunology, chronic kidney disease, Hepatitis C, womens health, oncology, andneuroscience. AbbVie also offers treatments for diseases including MultipleSclerosis, Parkinsons, and Alzheimers disease.Latest Fiscal Year: 12/2012LTM as of: 01/yy52-Week High (23.04.2013) 46.3252-Week Low (17.12.2012) 32.51Daily Volume44.8752-Week High % Change -3.35% Dividend Yield -52-Week Low % Change 38.02% Beta -% 52 Week Price Range High/Low 91.46% Equity Float 1582.32Shares Out 08.03.2013 1583.0 Short Int 11.4771028.58 1 Yr Total Return -Total Debt 17911.00 YTD Return 34.14%Preferred Stock 0.0 Adjusted BETA -Minority Interest 0.0 Analyst Recs 15Cash and Equivalents 7976.00 Consensus Rating 3.800Enterprise Value 80963.58Average Volume 5 Day 1633967ABBV UN EQUITY YTD Change - Average Volume 30 Day 1489681ABBV UN EQUITY YTD % CHANGE - Average Volume 3 Month 1538684LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+231.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2- 14214.2 15637.7 17444.0 18380.0 - - 18439.9 18884.4 4301.0 4580.1- - - - 3.47x - - 4.31x 4.15x - -- 5799.3 6214.3 5565.4 7255.0 - - 7383.4 7478.1 1607.3 1866.3- - - - 8.80x - - 11.01x 10.87x 11.02x 10.81x- 4636.5 4177.9 3433.1 5275.0 - - 4941.1 5091.1 1049.3 1240.2- - - - 9.84x - - 14.40x 13.94x 14.40x 14.25xEBITDA 7255.00 Long-Term Rating Date 26.10.2012EBIT 6105.00 Long-Term Rating AOperating Margin 33.22% Long-Term Outlook POSPretax Margin 31.15% Short-Term Rating Date 26.10.2012Return on Assets - Short-Term Rating A-1Return on Common Equity -Return on Capital - EBITDA/Interest Exp. 86.37Asset Turnover - (EBITDA-Capex)/Interest Exp. 82.40Net 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 -260.37Inventory Turnover -Profitability S&P Issuer RatingsCredit RatiosMargin AnalysisReferenceStructureNet IncomeP/EMarket CapitalizationAverage Daily Trading VolumeRelative Stock Price PerformanceTotal RevenueTEV/RevenueEBITDATEV/EBITDAFiscal Year EndedAbbVie IncPrice/VolumeValuation Analysis217896.00Current Price (4/dd/yy) Market Data05101520253035404550d-12 j-13 f-13 m-13 a-13.0 M2.0 M4.0 M6.0 M8.0 M10.0 M12.0 M0.02000.04000.06000.08000.010000.012000.014000.016000.018000.020000.02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.000.200.400.600.801.001.20Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash FlowQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  11. 11. 24.04.2013Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK n/a ULT-AGG 82921627 5.24 - 31.03.2013 Investment AdvisorVANGUARD GROUP INC VANGUARD GROUP INC 13F 74137316 4.68 74126726 31.03.2013 Investment AdvisorSTATE STREET n/a ULT-AGG 28549375 1.8 225099 23.04.2013 Investment AdvisorBANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 24679333 1.56 24679333 31.03.2013 Investment AdvisorSUN LIFE FINANCIAL I n/a ULT-AGG 13766889 0.87 13762679 28.02.2013 Investment AdvisorNORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 9133059 0.58 9133059 31.12.2012 Investment AdvisorFEDERATED INVESTORS FEDERATED INVESTORS 13F 8339139 0.53 8339139 31.03.2013 Investment AdvisorT ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 8324029 0.53 8324029 31.12.2012 Investment AdvisorCAPITAL GROUP COMPAN n/a ULT-AGG 6732382 0.43 6732382 31.03.2013 Investment AdvisorLSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 4906295 0.31 4906295 31.03.2013 Investment AdvisorAPG ALL PENSIONS GRO APG ALL PENSIONS GRO 13F 4618953 0.29 4618953 31.03.2013 Investment AdvisorEATON VANCE MANAGEME Multiple Portfolios MF-AGG 4604731 0.29 1649590 28.02.2013 Investment AdvisorNORDEA INV MANAGEMEN NORDEA INVESTMENT MA 13F 4085419 0.26 4085419 31.03.2013 Investment AdvisorPRINCIPAL FINANCIAL n/a ULT-AGG 4080714 0.26 (121330) 31.03.2013 Investment AdvisorFMR LLC n/a ULT-AGG 3846534 0.24 3846534 31.12.2012 Investment AdvisorALLIANCE BERNSTEIN n/a ULT-AGG 3659946 0.23 3659946 31.03.2013 Investment AdvisorUS BANCORP US BANCORP 13F 3236292 0.2 3236292 31.03.2013 Investment AdvisorHEALTHCOR MANAGEMENT HEALTHCOR MANAGEMENT 13F 3100000 0.2 3100000 31.12.2012 Hedge Fund ManagerCHARLES SCHWAB INVES Multiple Portfolios MF-AGG 2976910 0.19 2557837 23.04.2013 Investment AdvisorBANK OF AMERICA CORP Multiple Portfolios MF-AGG 2640125 0.17 (442457) 28.02.2013 Investment AdvisorFirm Name Analyst Recommendation Weighting Change Target Price Date DateBMO Capital Markets ALEX ARFAEI market perform 3 M 43 Not Provided 23.04.2013Wells Fargo Securities, LLC MICHAEL K TONG outperform 5 M #N/A N/A Not Provided 23.04.2013Morgan Stanley DAVID R RISINGER Overwt/In-Line 5 U 49 12 month 22.04.2013JPMorgan CHRISTOPHER T SCHOTT neutral 3 M 38 6 month 18.04.2013Barclays CHARLES ANTHONY BUTLER equalweight 3 M 41 Not Provided 15.04.2013Jefferies JEFFREY HOLFORD buy 5 M 50 12 month 10.04.2013Goldman Sachs JAMI E RUBIN buy/attractive 5 M 45 12 month 09.04.2013Edward Jones JUDSON CLARK hold 3 M #N/A N/A Not Provided 27.03.2013Credit Suisse CATHERINE J ARNOLD neutral 3 N 37 Not Provided 07.02.2013Hilliard Lyons STEPHEN A ONEIL neutral 3 M #N/A N/A Not Provided 30.01.2013Atlantic Equities LLP RICHARD J PURKISS neutral 3 M 37 12 month 17.01.2013EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013Holdings By:AbbVie IncAllQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  12. 12. 24.04.2013Accenture PLC provides management and technology consulting services andsolutions. The Company delivers a range of specialized capabilities andsolutions to clients across all industries on a worldwide basis. Accenturesnetwork of businesses provides consulting, technology, outsourcing, andalliances.Latest Fiscal Year: 08/2012LTM as of: 02/yy52-Week High (08.03.2013) 78.4652-Week Low (01.06.2012) 54.94Daily Volume77.1652-Week High % Change -1.29% Dividend Yield 1.9252-Week Low % Change 40.44% Beta 1.12% 52 Week Price Range High/Low 90.82% Equity Float 647.57Shares Out 14.03.2013 650.1 Short Int 6.6153514.06 1 Yr Total Return 25.56%Total Debt 0.03 YTD Return 17.25%Preferred Stock 0.0 Adjusted BETA 1.125Minority Interest 478.6 Analyst Recs 30Cash and Equivalents 6642.79 Consensus Rating 4.167Enterprise Value 48365.12Average Volume 5 Day 1006501ACN UN EQUITY YTD Change - Average Volume 30 Day 810314ACN UN EQUITY YTD % CHANGE - Average Volume 3 Month 786771LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+231.08.2008 31.08.2009 31.08.2010 31.08.2011 31.08.2012 02/yy 02/yy 08/13 Y 08/14 Y 05/13 Q3 08/13 Q425313.8 23171.0 23094.1 27352.9 29778.0 29227.4 30090.4 29058.4 30925.7 7432.8 7354.61.08x 0.85x 0.90x 1.19x 1.19x 4.74x 5.19x 1.61x 1.46x 6.49x 6.46x3525.9 3391.7 3399.1 3985.2 4466.8 4295.8 4603.0 4840.7 5055.4 1295.6 1224.97.76x 5.79x 6.14x 8.16x 7.95x 8.41x 9.89x 9.96x 9.53x 9.65x 9.50x1691.8 1590.0 1780.7 2277.7 2553.5 2526.0 3068.1 3055.2 3194.2 790.6 743.715.55x 12.36x 13.71x 15.76x 16.04x 15.79x 17.25x 17.94x 16.52x 17.35x 16.92xEBITDA 4466.78 Long-Term Rating Date 22.01.2002EBIT 3873.24 Long-Term Rating A+Operating Margin 13.01% Long-Term Outlook STABLEPretax Margin 13.11% Short-Term Rating Date -Return on Assets 19.08% Short-Term Rating -Return on Common Equity 61.85%Return on Capital 61.50% EBITDA/Interest Exp. 296.58Asset Turnover 1.87% (EBITDA-Capex)/Interest Exp. 271.88Net Debt/EBITDA -1.22Gross Margin 30.2% Total Debt/EBITDA 0.00EBITDA Margin 15.3%EBIT Margin 13.3% Total Debt/Equity 0.0%Net Income Margin 8.6% Total Debt/Capital 0.0%Asset Turnover 1.87Current Ratio 1.55 Net Fixed Asset Turnover 37.93Quick Ratio 1.20 Accounts receivable turnover-days 41.69Debt to Assets 0.00% Inventory Days 25.15Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 15.49Accounts Receivable Turnover 8.75 Cash Conversion Cycle 47.04Inventory Turnover 14.51Fiscal Year EndedAccenture PLCPrice/VolumeValuation Analysis162731.00Current Price (4/dd/yy) Market DataNet IncomeP/EMarket CapitalizationAverage Daily Trading VolumeRelative Stock Price PerformanceTotal RevenueTEV/RevenueEBITDATEV/EBITDAProfitability S&P Issuer RatingsCredit RatiosMargin AnalysisReferenceStructure0102030405060708090a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13.0 M.5 M1.0 M1.5 M2.0 M2.5 M3.0 M3.5 M0.05000.010000.015000.020000.025000.030000.035000.02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.002.004.006.008.0010.0012.0014.0016.0004.09.2009 04.03.2010 04.09.2010 04.03.2011 04.09.2011 04.03.2012 04.09.2012 04.03.2013Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash FlowQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  13. 13. 24.04.2013Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeSUN LIFE FINANCIAL I n/a ULT-AGG 41454159 6.38 3033970 28.02.2013 Investment AdvisorSTATE STREET n/a ULT-AGG 32973189 5.07 258351 23.04.2013 Investment AdvisorBLACKROCK n/a ULT-AGG 31192429 4.8 766395 22.04.2013 Investment AdvisorCAPITAL GROUP COMPAN n/a ULT-AGG 30378721 4.67 2002254 31.03.2013 Investment AdvisorVANGUARD GROUP INC VANGUARD GROUP INC 13F 30074388 4.63 129091 31.03.2013 Investment AdvisorFMR LLC n/a ULT-AGG 27506823 4.23 4281683 28.02.2013 Investment AdvisorMORGAN STANLEY n/a ULT-AGG 19497911 3 (259970) 31.12.2012 Investment AdvisorT ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 16985346 2.61 (301242) 31.12.2012 Investment AdvisorBANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 16402622 2.52 443115 31.03.2013 Investment AdvisorWELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 16389070 2.52 (2143379) 31.12.2012 Investment AdvisorTHORNBURG INVESTMENT THORNBURG INVESTMENT 13F 11742375 1.81 3797405 31.12.2012 Investment AdvisorNORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 10487978 1.61 307876 31.12.2012 Investment AdvisorFIDUCIARY MANAGEMENT FIDUCIARY MANAGEMENT 13F 7831119 1.2 516205 31.12.2012 Investment AdvisorAMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 7454100 1.15 (978608) 31.12.2012 Investment AdvisorLANSDOWNE PARTNERS L LANSDOWNE PARTNERS L 13F 7325230 1.13 643228 31.12.2012 Hedge Fund ManagerCALAMOS ADVISORS LLC CALAMOS ADVISORS LLC 13F 6456713 0.99 1151240 31.12.2012 Investment AdvisorTIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 6365635 0.98 217950 31.12.2012 Investment AdvisorBROWN ADVISORY INC n/a ULT-AGG 6257039 0.96 (389821) 31.12.2012 Investment AdvisorLONGVIEW PARTNERS (G LONGVIEW PARTNERS (G 13F 6213974 0.96 268050 31.12.2012 Investment AdvisorWELLS FARGO n/a ULT-AGG 6107559 0.94 712564 28.02.2013 Investment AdvisorFirm Name Analyst Recommendation Weighting Change Target Price Date DateWells Fargo Securities, LLC EDWARD S CASO JR outperform 5 M #N/A N/A Not Provided 23.04.2013Janney Montgomery Scott LLC JOSEPH D FORESI buy 5 M 84 12 month 19.04.2013Sanford C. Bernstein & Co RODERICK BOURGEOIS outperform 5 M 79 12 month 19.04.2013Cowen and Company MOSHE KATRI outperform 5 M #N/A N/A Not Provided 19.04.2013Deutsche Bank BRYAN KEANE buy 5 M 87 12 month 18.04.2013JPMorgan TIEN-TSIN HUANG overweight 5 M 80 6 month 18.04.2013Atlantic Equities LLP CHRISTOPHER HICKEY overweight 5 M 85 12 month 12.04.2013Stifel DAVID M GROSSMAN buy 5 M 80 12 month 08.04.2013Societe Generale RICHARD NGUYEN hold 3 M 74 12 month 02.04.2013Argus Research Corp JAMES KELLEHER buy 5 M 86 12 month 02.04.2013Evercore Partners DAVID M TOGUT overweight 5 M 86 12 month 02.04.2013Berenberg Bank DAUD KHAN hold 3 M 69 Not Provided 02.04.2013Edward Jones JOSH OLSON hold 3 M #N/A N/A Not Provided 01.04.2013BB&T Capital Markets GEORGE A PRICE hold 3 M #N/A N/A Not Provided 01.04.2013Credit Agricole Securities (USA) NIMISH JOSHI outperform 5 M 82 12 month 01.04.2013Barclays DARRIN D PELLER equalweight 3 M 74 Not Provided 01.04.2013BMO Capital Markets KEITH F BACHMAN market perform 3 M 74 Not Provided 31.03.2013Morgan Stanley KATHRYN HUBERTY Overwt/In-Line 5 M 77 12 month 28.03.2013Credit Suisse GEORGE MIHALOS neutral 3 M 74 Not Provided 28.03.2013Jefferies JASON KUPFERBERG hold 3 M 73 12 month 28.03.2013Robert W. Baird & Co DAVID J KONING neutral 3 M 78 12 month 28.03.2013Raymond James BRIAN GESUALE outperform 5 M 83 12 month 28.03.2013BNP Paribas Equity Research ARVIND RAMNANI hold 3 M 73 12 month 28.03.2013Susquehanna Financial Group JAMES E FRIEDMAN Positive 4 M 88 12 month 28.03.2013S&P Capital IQ DYLAN CATHERS buy 5 M 79 12 month 27.02.2013EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013Goldman Sachs JULIO C QUINTEROS JR neutral/neutral 3 M 72 12 month 09.01.2013Holdings By:Accenture PLCAllQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  14. 14. 24.04.2013The Allstate Corporation, through its subsidiaries, provides property-liabilityinsurance, as well as other types of insurance in the United States and Canada.The Company primarily sells private passenger automobile and homeownersinsurance through independent and specialized brokers. Allstate also sells lifeinsurance, annuity, and group pension products through agents.Latest Fiscal Year: 12/2012LTM as of: 12/yy52-Week High (12.04.2013) 50.5652-Week Low (24.04.2012) 32.40Daily Volume49.8152-Week High % Change -1.62% Dividend Yield 1.7752-Week Low % Change 53.73% Beta 0.93% 52 Week Price Range High/Low 95.81% Equity Float 469.32Shares Out 01.02.2013 477.4 Short Int 11.2923781.60 1 Yr Total Return 55.39%Total Debt 6307.00 YTD Return 24.68%Preferred Stock 0.0 Adjusted BETA 0.934Minority Interest 0.0 Analyst Recs 29Cash and Equivalents 806.00 Consensus Rating 4.172Enterprise Value 29282.60Average Volume 5 Day 900917ALL UN EQUITY YTD Change - Average Volume 30 Day 853050ALL UN EQUITY YTD % CHANGE - Average Volume 3 Month 827565LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+231.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q229394.0 32013.0 31400.0 32654.0 33315.0 32654.0 33315.0 33588.8 34249.9 8296.7 8387.60.78x 0.67x 0.71x 0.59x 0.74x 2.42x 2.81x 0.89x 0.87x - -- - - - - 0.0 0.0 - - - -- - - - - 0.00x 0.00x - - - -(1679.0) 854.0 928.0 787.0 2306.0 787.0 2306.0 2207.8 2274.8 620.5 524.310.17x 8.63x 11.23x 21.58x 9.21x 21.08x 9.26x 10.51x 9.64x 10.17x 10.04xEBITDA - Long-Term Rating Date -EBIT - Long-Term Rating A-Operating Margin 11.09% Long-Term Outlook NEGPretax Margin 9.92% Short-Term Rating Date -Return on Assets 1.83% Short-Term Rating -Return on Common Equity 11.86%Return on Capital 9.97% EBITDA/Interest Exp. -Asset Turnover 0.26% (EBITDA-Capex)/Interest Exp. -Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 30.6%Net Income Margin 6.9% Total Debt/Capital 23.5%Asset Turnover 0.26Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 4.97% Inventory Days -Tot Debt to Common Equity 30.65% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -Profitability S&P Issuer RatingsCredit RatiosMargin AnalysisReferenceStructureNet IncomeP/EMarket CapitalizationAverage Daily Trading VolumeRelative Stock Price PerformanceTotal RevenueTEV/RevenueEBITDATEV/EBITDAFiscal Year EndedAllstate Corp/ThePrice/VolumeValuation Analysis119976.00Current Price (4/dd/yy) Market Data0102030405060a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13.0 M.5 M1.0 M1.5 M2.0 M2.5 M3.0 M0.05000.010000.015000.020000.025000.030000.035000.040000.02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.001.002.003.004.005.006.007.008.009.0010.0001.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash FlowQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  15. 15. 24.04.2013Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeSTATE STREET n/a ULT-AGG 27137872 5.68 472879 23.04.2013 Investment AdvisorBLACKROCK n/a ULT-AGG 23926482 5.01 282667 22.04.2013 Investment AdvisorT ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 22671855 4.75 (1682359) 31.12.2012 Investment AdvisorVANGUARD GROUP INC VANGUARD GROUP INC 13F 22140955 4.64 (151704) 31.03.2013 Investment AdvisorCAPITAL GROUP COMPAN n/a ULT-AGG 19984076 4.19 (200033) 31.03.2013 Investment AdvisorINVESCO LTD n/a ULT-AGG 12957795 2.71 (362127) 31.12.2012 Investment AdvisorHOTCHKIS & WILEY CAP HOTCHKIS AND WILEY 13F 10485305 2.2 (2368767) 31.12.2012 Investment AdvisorALLIANZ ASSET MANAGE n/a ULT-AGG 8490084 1.78 (955355) 31.03.2013 Investment AdvisorARTISAN PARTNERS HOL ARTISAN PARTNERS LP 13F 7389120 1.55 80488 31.12.2012 Investment AdvisorNORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 7163891 1.5 (501604) 31.12.2012 Investment AdvisorNORTHERN TRUST CORPO n/a Research 7163891 1.5 - 31.12.2012 Investment AdvisorPZENA INVESTMENT MAN PZENA INVESTMENT MAN 13F 6486248 1.36 (3897691) 31.12.2012 Hedge Fund ManagerLSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 6467278 1.35 (117260) 31.03.2013 Investment AdvisorBANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 6149311 1.29 480660 31.03.2013 Investment AdvisorAMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 6104700 1.28 (672920) 31.12.2012 Investment AdvisorMACQUARIE GROUP n/a ULT-AGG 5864695 1.23 (115558) 31.12.2012 Investment AdvisorAMERICAN CENTURY COM AMERICAN CENTURY COM 13F 4714744 0.99 (41867) 31.12.2012 Investment AdvisorAJO, LP AJO, LP 13F 4545300 0.95 (326800) 31.12.2012 Investment AdvisorDISCOVERY CAPITAL MA DISCOVERY CAPITAL MA 13F 4353350 0.91 2484100 31.12.2012 Hedge Fund ManagerCITADEL ADVISORS LLC CITADEL ADVISORS LLC 13F 4255921 0.89 345131 31.12.2012 Hedge Fund ManagerFirm Name Analyst Recommendation Weighting Change Target Price Date DateWilliam Blair & Co ADAM KLAUBER outperform 5 M #N/A N/A Not Provided 23.04.2013Wells Fargo Securities, LLC JOHN A HALL market perform 3 M #N/A N/A Not Provided 22.04.2013Credit Suisse MICHAEL ZAREMSKI outperform 5 M 55 Not Provided 19.04.2013Macquarie RAYMOND IARDELLA neutral 3 M 50 12 month 19.04.2013Deutsche Bank JOSHUA D SHANKER buy 5 M 53 12 month 18.04.2013Morgan Stanley GREGORY W LOCRAFT Equalwt/In-Line 3 M #N/A N/A Not Provided 18.04.2013Janney Montgomery Scott LLC ROBERT GLASSPIEGEL buy 5 M #N/A N/A Not Provided 18.04.2013Keefe, Bruyette & Woods MEYER SHIELDS market perform 3 M 50 12 month 18.04.2013Sandler ONeill & Partners, LP J PAUL NEWSOME buy 5 M 57 12 month 18.04.2013Sterne, Agee & Leach DANIEL FARRELL neutral 3 M 50 12 month 18.04.2013Evercore Partners VINAY MISQUITH overweight 5 M 54 12 month 18.04.2013JMP Securities MATTHEW J CARLETTI market perform 3 M #N/A N/A Not Provided 18.04.2013MKM Partners HARRY FONG buy 5 M 60 12 month 18.04.2013Barclays JAY H GELB overweight 5 M 57 Not Provided 18.04.2013Edward Jones JIM SHANAHAN buy 5 M #N/A N/A Not Provided 15.04.2013Portales Partners NINA GUPTA outperform 5 M #N/A N/A Not Provided 15.04.2013RBC Capital Markets MARK A DWELLE sector perform 3 M 51 12 month 11.04.2013Raymond James C GREGORY PETERS strong buy 5 M 57 12 month 08.04.2013Drexel Hamilton LLC GLORIA L VOGEL hold 3 M 49 12 month 02.04.2013Goldman Sachs MICHAEL S NANNIZZI Buy/Neutral 5 U 58 12 month 25.03.2013FBR Capital Markets RANDY BINNER market perform 3 M 45 12 month 25.03.2013Sanford C. Bernstein & Co JOSH STIRLING outperform 5 M 50 12 month 19.03.2013Argus Research Corp JOHN M EADE buy 5 M 51 Not Provided 08.02.2013SunTrust Robinson Humphrey MARK D HUGHES neutral 3 M #N/A N/A Not Provided 07.02.2013EVA Dimensions AUSTIN BURKETT buy 5 M #N/A N/A Not Provided 15.01.2013S&P Capital IQ CATHY SEIFERT hold 3 M 43 Not Provided 29.11.2012Holdings By:Allstate Corp/TheAllQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  16. 16. 24.04.2013Altria Group, Inc. is a holding company. The Company, through subsidiaries,manufactures and sells cigarettes and other tobacco products, including cigarsand pipe tobacco. Altria holds an interest in a brewery company.Latest Fiscal Year: 12/2012LTM as of: 12/yy52-Week High (01.08.2012) 36.2952-Week Low (15.11.2012) 30.01Daily Volume35.7252-Week High % Change -1.68% Dividend Yield 4.7652-Week Low % Change 19.03% Beta 0.57% 52 Week Price Range High/Low 87.90% Equity Float 2003.17Shares Out 15.02.2013 2009.9 Short Int 23.8371792.03 1 Yr Total Return 18.69%Total Debt 13878.00 YTD Return 15.16%Preferred Stock 0.0 Adjusted BETA 0.574Minority Interest 36.0 Analyst Recs 18Cash and Equivalents 2900.00 Consensus Rating 4.222Enterprise Value 82806.03Average Volume 5 Day 2166456MO UN EQUITY YTD Change - Average Volume 30 Day 2313230MO UN EQUITY YTD % CHANGE - Average Volume 3 Month 2231027LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+231.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q215957.0 16824.0 16892.0 16619.0 17500.0 16619.0 17500.0 17692.0 18020.0 4033.0 4614.51.92x 3.02x 3.63x 4.28x 4.24x 16.04x 17.62x 4.70x 4.59x 20.61x 17.98x5142.0 6234.0 6540.0 6543.0 7539.0 6543.0 7539.0 7722.1 8035.7 1747.2 2026.25.95x 8.16x 9.38x 10.86x 9.84x 10.86x 9.84x 10.73x 10.30x 10.71x 10.65x4930.0 3206.0 3905.0 3390.0 4180.0 3390.0 3958.0 4787.4 5072.9 1059.4 1258.19.13x 11.41x 12.96x 14.46x 14.23x 14.61x 14.23x 14.91x 13.91x 14.91x 14.71xEBITDA 7539.00 Long-Term Rating Date 06.01.2009EBIT 7314.00 Long-Term Rating BBBOperating Margin 41.79% Long-Term Outlook STABLEPretax Margin 37.01% Short-Term Rating Date 18.09.2003Return on Assets 10.98% Short-Term Rating A-2Return on Common Equity 115.22%Return on Capital 27.20% EBITDA/Interest Exp. 6.66Asset Turnover 0.49% (EBITDA-Capex)/Interest Exp. 6.55Net Debt/EBITDA 1.46Gross Margin 54.6% Total Debt/EBITDA 1.84EBITDA Margin 43.1%EBIT Margin 41.8% Total Debt/Equity 438.1%Net Income Margin 23.9% Total Debt/Capital 81.2%Asset Turnover 0.49Current Ratio 0.77 Net Fixed Asset Turnover 8.11Quick Ratio 0.37 Accounts receivable turnover-days 4.82Debt to Assets 39.28% Inventory Days 81.27Tot Debt to Common Equity 438.07% Accounts Payable Turnover Day 22.09Accounts Receivable Turnover 75.92 Cash Conversion Cycle 64.01Inventory Turnover 4.50Fiscal Year EndedAltria Group IncPrice/VolumeValuation Analysis328224.00Current Price (4/dd/yy) Market DataNet IncomeP/EMarket CapitalizationAverage Daily Trading VolumeRelative Stock Price PerformanceTotal RevenueTEV/RevenueEBITDATEV/EBITDAProfitability S&P Issuer RatingsCredit RatiosMargin AnalysisReferenceStructure0510152025303540a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13.0 M2.0 M4.0 M6.0 M8.0 M10.0 M12.0 M0.010000.020000.030000.040000.050000.060000.070000.080000.02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.005.0010.0015.0020.0025.0030.0001.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash FlowQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  17. 17. 24.04.2013Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCAPITAL GROUP COMPAN n/a ULT-AGG 171903365 8.55 4112345 31.03.2013 Investment AdvisorSTATE STREET n/a ULT-AGG 112402521 5.59 (302903) 23.04.2013 Investment AdvisorBLACKROCK n/a ULT-AGG 104951046 5.22 2097289 22.04.2013 Investment AdvisorVANGUARD GROUP INC VANGUARD GROUP INC 13F 96161381 4.78 4127835 31.03.2013 Investment AdvisorBANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 38237065 1.9 1048361 31.03.2013 Investment AdvisorGOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 32029388 1.59 (6418885) 31.12.2012 Investment AdvisorFMR LLC n/a ULT-AGG 30862258 1.54 (930685) 28.02.2013 Investment AdvisorNORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 26701157 1.33 (48776) 31.12.2012 Investment AdvisorFAYEZ SAROFIM FAYEZ SAROFIM 13F 22025357 1.1 (2738787) 31.12.2012 Investment AdvisorBARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 21782979 1.08 (2350) 31.12.2012 Investment AdvisorJANUS CAPITAL MANAGE n/a ULT-AGG 18565911 0.92 3183643 31.12.2012 Investment AdvisorBANK OF AMERICA CORP BANK OF AMERICA 13F 18083698 0.9 931916 31.12.2012 Investment AdvisorTIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 16006213 0.8 1413846 31.12.2012 Investment AdvisorALLIANCE BERNSTEIN n/a ULT-AGG 15034549 0.75 (2240184) 31.03.2013 Investment AdvisorFRANKLIN RESOURCES n/a ULT-AGG 14995935 0.75 (191900) 31.12.2012 Investment AdvisorFEDERATED INVESTORS FEDERATED INVESTORS 13F 14402373 0.72 83191 31.03.2013 Investment AdvisorGEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 13325870 0.66 (1381488) 31.12.2012 Investment AdvisorINVESCO LTD n/a ULT-AGG 11886434 0.59 (15091131) 31.03.2013 Investment AdvisorUBS n/a ULT-AGG 11505195 0.57 694345 28.02.2013 UnclassifiedWELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 11089326 0.55 (498624) 31.12.2012 Investment AdvisorFirm Name Analyst Recommendation Weighting Change Target Price Date DateWells Fargo Securities, LLC BONNIE HERZOG outperform 5 M #N/A N/A Not Provided 19.04.2013Davenport & Co ANN H GURKIN buy 5 M 37 12 month 15.04.2013JPMorgan RAE MAILE overweight 5 M 45 6 month 12.04.2013Stifel CHRISTOPHER R GROWE buy 5 M 36 12 month 01.04.2013Edward Jones JACK P RUSSO hold 3 M #N/A N/A Not Provided 27.03.2013Argus Research Corp NATHANIEL GABRIEL hold 3 M #N/A N/A Not Provided 18.03.2013Barclays MICHAEL J BRANCA equalweight 3 M 31 Not Provided 18.03.2013Jefferies THILO WREDE hold 3 M 34 12 month 01.03.2013S&P Capital IQ ESTHER KWON buy 5 M 37 Not Provided 20.02.2013Morgan Stanley DAVID J ADELMAN Equalwt/In-Line 3 M 34 12 month 19.02.2013Independent Research GmbH LARS LUSEBRINK buy 5 M 40 12 month 01.02.2013Credit Agricole Securities (USA) MICHAEL LAVERY outperform 5 M 36 Not Provided 01.02.2013Goldman Sachs JUDY E HONG neutral/neutral 3 M 36 12 month 31.01.2013EVA Dimensions AUSTIN BURKETT overweight 5 U #N/A N/A Not Provided 21.01.2013Holdings By:Altria Group IncAllQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  18. 18. 24.04.2013Amazon.com, Inc. is an online retailer that offers a wide range of products.The Companys products include books, music, videotapes, computers,electronics, home and garden, and numerous other products. Amazon offerspersonalized shopping services, Web-based credit card payment, and directshipping to customers.Latest Fiscal Year: 12/2012LTM as of: 12/yy52-Week High (25.01.2013) 284.6852-Week Low (24.04.2012) 186.57Daily Volume267.6652-Week High % Change -5.48% Dividend Yield 0.0052-Week Low % Change 43.46% Beta 1.19% 52 Week Price Range High/Low 83.92% Equity Float 367.58Shares Out 01.04.2013 455.2 Short Int 7.13121844.30 1 Yr Total Return 40.63%Total Debt 4385.00 YTD Return 6.58%Preferred Stock 0.0 Adjusted BETA 1.191Minority Interest 0.0 Analyst Recs 44Cash and Equivalents 11448.00 Consensus Rating 4.227Enterprise Value 114781.29Average Volume 5 Day 723013AMZN UW EQUITY YTD Change - Average Volume 30 Day 793785AMZN UW EQUITY YTD % CHANGE - Average Volume 3 Month 881980LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+231.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q219166.0 24509.0 34204.0 48077.0 61093.0 48077.0 61093.0 75573.3 92885.6 16143.0 15924.60.98x 2.19x 2.15x 1.49x 1.75x 6.86x 6.55x 1.53x 1.20x 7.41x 7.48x1129.0 1507.0 1974.0 1945.0 2835.0 1945.0 2834.0 4640.0 6362.3 944.1 1042.616.55x 35.69x 37.21x 36.75x 37.68x 36.75x 37.70x 24.84x 18.11x 24.56x 23.25x645.0 902.0 1152.0 631.0 (39.0) 632.0 (40.0) 1500.4 2462.8 262.4 322.436.89x 63.60x 71.15x 126.35x - 126.46x 0.00x 77.51x 46.50x 81.63x 73.39xEBITDA 2835.00 Long-Term Rating Date 26.11.2012EBIT 676.00 Long-Term Rating AA-Operating Margin 1.11% Long-Term Outlook STABLEPretax Margin 0.64% Short-Term Rating Date 13.06.2007Return on Assets -0.14% Short-Term Rating NRReturn on Common Equity -0.50%Return on Capital -0.44% EBITDA/Interest Exp. 30.82Asset Turnover 2.11% (EBITDA-Capex)/Interest Exp. -10.33Net Debt/EBITDA -2.49Gross Margin 24.8% Total Debt/EBITDA 1.55EBITDA Margin 4.6%EBIT Margin 1.1% Total Debt/Equity 53.5%Net Income Margin -0.1% Total Debt/Capital 34.9%Asset Turnover 2.11Current Ratio 1.12 Net Fixed Asset Turnover 10.65Quick Ratio 0.78 Accounts receivable turnover-days 17.78Debt to Assets 13.47% Inventory Days 43.88Tot Debt to Common Equity 53.53% Accounts Payable Turnover Day 95.23Accounts Receivable Turnover 20.59 Cash Conversion Cycle -33.57Inventory Turnover 8.34Fiscal Year EndedAmazon.com IncPrice/VolumeValuation Analysis158724.00Current Price (4/dd/yy) Market DataNet IncomeP/EMarket CapitalizationAverage Daily Trading VolumeRelative Stock Price PerformanceTotal RevenueTEV/RevenueEBITDATEV/EBITDAProfitability S&P Issuer RatingsCredit RatiosMargin AnalysisReferenceStructure050100150200250300a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13.0 M1.0 M2.0 M3.0 M4.0 M5.0 M6.0 M0.010000.020000.030000.040000.050000.060000.070000.02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.005.0010.0015.0020.0025.0030.0035.0040.0001.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash FlowQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  19. 19. 24.04.2013Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBEZOS JEFFREY P n/a Form 4 86970020 19.11 (195151) 15.02.2013 n/aCAPITAL GROUP COMPAN n/a ULT-AGG 43940459 9.65 4330950 31.03.2013 Investment AdvisorT ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 20211207 4.44 1315756 31.12.2012 Investment AdvisorBLACKROCK n/a ULT-AGG 18884410 4.15 713291 22.04.2013 Investment AdvisorSTATE STREET n/a ULT-AGG 18327122 4.03 118768 23.04.2013 Investment AdvisorVANGUARD GROUP INC VANGUARD GROUP INC 13F 16433434 3.61 465988 31.03.2013 Investment AdvisorFMR LLC n/a ULT-AGG 15535787 3.41 (672592) 28.02.2013 Investment AdvisorBAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 11895369 2.61 30532 31.03.2013 Investment AdvisorSANDS CAPITAL MANAGE SANDS CAPITAL MANAGE 13F 7730515 1.7 238226 31.12.2012 Investment AdvisorJP MORGAN n/a ULT-AGG 6404636 1.41 376682 28.02.2013 Investment AdvisorJENNISON ASSOCIATES JENNISON ASSOCIATES 13F 6217693 1.37 (801059) 31.12.2012 Investment AdvisorMORGAN STANLEY n/a ULT-AGG 5767335 1.27 (219454) 28.02.2013 Investment AdvisorINVESCO LTD n/a ULT-AGG 5407626 1.19 (822311) 31.12.2012 Investment AdvisorNORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 5046581 1.11 (13747) 31.12.2012 Investment AdvisorBANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 4666295 1.03 (112217) 31.03.2013 Investment AdvisorUBS n/a ULT-AGG 4449254 0.98 (666569) 28.02.2013 UnclassifiedWELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 4405355 0.97 (179692) 31.12.2012 Investment AdvisorTORONTO DOMINION BAN TORONTO DOMINION BAN 13F 4260200 0.94 (100) 31.12.2012 Investment AdvisorWELLS FARGO n/a ULT-AGG 3087754 0.68 16229 28.02.2013 Investment AdvisorTIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 3037780 0.67 (14891) 31.12.2012 Investment AdvisorFirm Name Analyst Recommendation Weighting Change Target Price Date DateSanford C. Bernstein & Co CARLOS KIRJNER outperform 5 M 320 12 month 24.04.2013Raymond James AARON M KESSLER market perform 3 M #N/A N/A Not Provided 24.04.2013Nomura ARAM RUBINSON buy 5 M 315 12 month 24.04.2013JPMorgan DOUGLAS ANMUTH neutral 3 M 300 6 month 23.04.2013BGC Partners COLIN W GILLIS hold 3 M 245 12 month 23.04.2013JMP Securities RONALD V JOSEY III market perform 3 M #N/A N/A Not Provided 23.04.2013Topeka Capital Markets Inc VICTOR ANTHONY buy 5 M 350 12 month 23.04.2013Morgan Stanley SCOTT W DEVITT Overwt/Attractive 5 M 320 12 month 22.04.2013Cantor Fitzgerald YOUSSEF H SQUALI buy 5 M 300 12 month 22.04.2013Piper Jaffray EUGENE E MUNSTER overweight 5 M 329 12 month 22.04.2013RBC Capital Markets MARK S MAHANEY outperform 5 M 330 12 month 21.04.2013Evercore Partners KEN SENA overweight 5 M 330 12 month 21.04.2013BMO Capital Markets EDWARD S WILLIAMS market perform 3 M 260 Not Provided 19.04.2013Telsey Advisory Group THOMAS FORTE no rating system #N/A N/A M 370 12 month 19.04.2013Canaccord Genuity Corp MICHAEL GRAHAM hold 3 M 300 12 month 17.04.2013Janney Montgomery Scott LLC SHAWN C MILNE buy 5 M 310 12 month 15.04.2013Robert W. Baird & Co COLIN SEBASTIAN outperform 5 M 325 12 month 15.04.2013Wells Fargo Securities, LLC MATTHEW NEMER outperform 5 M #N/A N/A Not Provided 15.04.2013Pacific Crest Securities CHAD BARTLEY outperform 5 M 346 12 month 12.04.2013ISI Group GREGORY MELICH buy 5 M 320 Not Provided 12.04.2013Cowen and Company JOHN BLACKLEDGE outperform 5 M #N/A N/A Not Provided 12.04.2013Barclays ANTHONY J DICLEMENTE equalweight 3 M 260 Not Provided 12.04.2013Deutsche Bank ROSS SANDLER buy 5 M 335 12 month 11.04.2013Atlantic Equities LLP JAMES CORDWELL overweight 5 M 325 12 month 09.04.2013Stifel JORDAN ROHAN buy 5 M 335 12 month 08.04.2013William Blair & Co MARK R MILLER outperform 5 M #N/A N/A Not Provided 02.04.2013EVA Dimensions CRAIG STERLING sell 1 D #N/A N/A Not Provided 16.03.2013Daiwa Securities Co. Ltd. KAZUYA NISHIMURA outperform 5 M 295 Not Provided 22.02.2013Oppenheimer & Co JASON S HELFSTEIN outperform 5 M 325 18 month 11.02.2013Argus Research Corp JOSEPH F BONNER hold 3 M #N/A N/A Not Provided 31.01.2013Goldman Sachs HEATH P TERRY buy/attractive 5 M 330 12 month 30.01.2013Credit Suisse STEPHEN JU outperform 5 M 334 Not Provided 30.01.2013Jefferies BRIAN J PITZ buy 5 M 330 12 month 30.01.2013Needham & Co KERRY RICE hold 3 M #N/A N/A Not Provided 30.01.2013Macquarie BENJAMIN A SCHACHTER outperform 5 M 305 12 month 30.01.2013B Riley & Company, Inc SCOTT TILGHMAN buy 5 M 341 Not Provided 30.01.2013Benchmark Company LLC DANIEL L KURNOS buy 5 M 330 12 month 30.01.2013Credit Agricole Securities (USA) JAMES LEE outperform 5 D 290 Not Provided 30.01.2013Wedge Partners BRIAN BLAIR no rating system #N/A N/A M #N/A N/A Not Provided 26.11.2012McAdams Wright Ragen Inc DAN GEIMAN hold 3 M #N/A N/A Not Provided 26.10.2012S&P Capital IQ MICHAEL SOUERS hold 3 M 250 Not Provided 26.10.2012Battle Road Research TEAM COVERAGE hold 3 M #N/A N/A Not Provided 27.04.2012First Global Stockbroking RITESH DOSHI market perform 3 M #N/A N/A Not Provided 27.07.2011Holdings By:Amazon.com IncAllQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  20. 20. 24.04.2013American Electric Power Company, Inc.(AEP)is a public utility holding company.The Company provides electric service, consisting of generation, transmissionand distribution, on an integrated basis to their retail customers. AEP servesportions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan,Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.Latest Fiscal Year: 12/2012LTM as of: 12/yy52-Week High (24.04.2013) 50.7852-Week Low (17.05.2012) 37.43Daily Volume50.6352-Week High % Change 0.00% Dividend Yield 3.7152-Week Low % Change 35.27% Beta 0.61% 52 Week Price Range High/Low 100.00% Equity Float 485.72Shares Out 25.02.2013 485.8 Short Int 4.3724595.57 1 Yr Total Return 38.37%Total Debt 18738.00 YTD Return 19.88%Preferred Stock 0.0 Adjusted BETA 0.613Minority Interest 0.0 Analyst Recs 23Cash and Equivalents 603.00 Consensus Rating 3.783Enterprise Value 42730.57Average Volume 5 Day 623563AEP UN EQUITY YTD Change - Average Volume 30 Day 527372AEP UN EQUITY YTD % CHANGE - Average Volume 3 Month 585265LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+231.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q214440.0 13489.0 14427.0 15116.0 14945.0 15116.0 14945.0 15848.7 16152.3 3787.3 3679.32.18x 2.48x 2.41x 2.49x 2.60x 9.48x 10.15x 2.72x 2.71x 11.36x 11.71x4087.0 4431.0 4443.0 4713.0 4874.0 4709.0 4529.0 4796.8 4952.7 1150.7 1166.37.70x 7.55x 7.83x 7.98x 7.97x 7.99x 8.58x 8.91x 8.63x 9.22x 9.15x1383.0 1360.0 1214.0 1946.0 1259.0 1946.0 1259.0 1543.6 1628.2 388.7 391.310.30x 11.67x 11.87x 9.93x 13.81x 12.15x 13.77x 16.03x 15.27x 15.96x 15.81xEBITDA 4874.00 Long-Term Rating Date 07.03.2003EBIT 2956.00 Long-Term Rating BBBOperating Margin 19.78% Long-Term Outlook STABLEPretax Margin 12.49% Short-Term Rating Date 07.03.2003Return on Assets 2.36% Short-Term Rating A-2Return on Common Equity 8.42%Return on Capital 5.78% EBITDA/Interest Exp. 4.93Asset Turnover 0.28% (EBITDA-Capex)/Interest Exp. 1.67Net Debt/EBITDA 4.00Gross Margin 64.7% Total Debt/EBITDA 4.14EBITDA Margin 30.3%EBIT Margin 17.5% Total Debt/Equity 123.0%Net Income Margin 8.4% Total Debt/Capital 55.2%Asset Turnover 0.28Current Ratio 0.67 Net Fixed Asset Turnover -Quick Ratio 0.36 Accounts receivable turnover-days 45.37Debt to Assets 34.47% Inventory Days 97.43Tot Debt to Common Equity 122.98% Accounts Payable Turnover Day 75.23Accounts Receivable Turnover 8.07 Cash Conversion Cycle 67.56Inventory Turnover 3.76Profitability S&P Issuer RatingsCredit RatiosMargin AnalysisReferenceStructureNet IncomeP/EMarket CapitalizationAverage Daily Trading VolumeRelative Stock Price PerformanceTotal RevenueTEV/RevenueEBITDATEV/EBITDAFiscal Year EndedAmerican Electric Power Co IncPrice/VolumeValuation Analysis88798.00Current Price (4/dd/yy) Market Data0102030405060a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13.0 M.5 M1.0 M1.5 M2.0 M2.5 M0.02000.04000.06000.08000.010000.012000.014000.016000.02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.001.002.003.004.005.006.007.008.0001.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash FlowQ.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

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