Fundamental Equity Analysis - Nasdaq 100 Index Members (NDX Index)

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Fundamental Equity Analysis - Nasdaq 100 Index Members (NDX Index)

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Fundamental Equity Analysis - Nasdaq 100 Index Members (NDX Index)

  1. 1. This material does not constitute investment advice and should not beviewed as a current or past recommendation or a solicitation of anoffer to buy or sell any securities or to adopt any investment strategy. Fundamental Analysis & Analyst Recommendations NDX Index - Nasdaq 100 Index April 2013 Q M S Advisors . . Q.M.S Advisors | Avenue de la Gare, 1 1003 Lausanne | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  2. 2. Valuation Measures I/II Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth Market Total Minority Cash and Enterprise Est. Tot. Est. P/E Est. Est. Est. Est. S&P LT Moodys LT Capitalization (in mio Daily Common Total Debt Preferred Interest Equivalents Value Tot. Rev. - Rev. - Tr. Est. Tot. Est. Tot. Est. EBITDA - Est. EBITDA - Est. EBITDA - Est. EPS - Est. EPS - Est. EPS - P/E Ratio - Ratio - Tr. Est. P/E Est. P/E Revenue Revenue Est. EBITDA EBITDA Est. EBITDA Credit S&P LT Credit Credit Moodys LT Credit Currency USD) Volume (M) Shares (M) (USD) Stock (USD) (USD) (USD) (USD) LFY 12M Rev. - 2013 Rev. - 2014 EBITDA - LFY Tr. 12M 2013 2014 EPS - LFY Tr. 12M 2013 2014 LFY 12M Ratio - 2013 Ratio - 2014 Growth - 1Y Growth - 5Y Growth - 1Y Growth - 5Y Margin - Rating - Rating Date Rating Rating DateS&P 500 INDEX USD 14281184 1923.576 1116 1116 204 220 220 101.41 110.54 110.54 15.38 15.38 14.11 14.11 18.80Euro Stoxx 50 Pr EUR 2553062 5424.032 4630 4630 739 775 775 229.96 307.93 307.93 19.02 16.41 14.21 14.21 19.70NIKKEI 225 JPY 2554354 186.4402 188 188 19 20 20 5.28 5.50 5.50 0.27 0.27 0.25 0.25 0.12FTSE 100 INDEX GBP 2682474 11610.68 9614 9614 1447 1650 1650 531.79 820.72 820.72 27.64 - 17.91 17.91 22.24SWISS MARKET INDEX CHF 1031660 10946.31 4119 4119 844 836 836 408.77 551.74 551.74 21.20 18.86 15.71 15.71 21.93S&P/TSX COMPOSITE INDEX CAD 1675907 17151.75 7923 7923 1852 2088 2088 796.17 890.32 890.32 15.37 15.37 13.74 13.74 24.29S&P/ASX 200 INDEX AUD 1408237 6730.544 2878 2878 607 705 705 252.53 342.62 342.62 21.54 17.43 15.87 15.87 22.39HANG SENG INDEX HKD 1692248 3310.555 1659 1659 376 407 407 268.25 266.15 266.15 1.38 1.51 1.39 1.39 3.12MSCI EM USD 7658673 1544.178 1079 1079 201 220 220 86.99 95.05 95.05 11.75 13.38 10.76 10.76 20.03ACTIVISION BLIZZARD INC USD 16104 1000 1112 0 0 0 4 11.73 4856 4856 4277 4682 1779 1779 189 189 1.01 1.00 0.85 1.03 14.46 14.46 17.03 14.04 2.12 - -0.50 51.86 36.64 NR 11.07.2008 - -ADOBE SYSTEMS INC USD 21436 552 494 2 0 0 4 19.31 4404 4366 4118 4539 1477 1296 288 288 1.64 1.41 1.42 1.79 30.31 30.31 30.10 23.84 4.45 3.06 0.67 4.71 29.68 BBB+ 25.01.2010 Baa1 25.01.2010AKAMAI TECHNOLOGIES INC USD 6240 623 178 0 0 0 1 5.14 1374 1374 1510 1715 519 519 151 151 1.15 1.15 1.96 2.21 30.50 30.50 17.91 15.85 18.59 15.60 12.01 19.00 37.78 NR 12.11.2002 - -ALEXION PHARMACEUTICALS INC USD 17832 346 195 0 0 0 1 16.99 1134 1134 1509 1894 424 424 135 135 1.38 1.33 2.89 3.33 68.68 68.68 31.57 27.43 44.76 59.85 61.86 - 37.38 - - - -ALTERA CORP USD 11236 529 320 1 0 0 3 8.72 1783 1783 1823 2075 628 628 120 120 1.72 1.71 1.54 1.87 20.55 20.55 22.86 18.83 -13.63 8.79 -28.72 14.97 35.23 A- 04.11.2011 A2 01.05.2012AMAZON.COM INC USD 118040 266 454 6 0 0 11 112.10 61093 61093 75720 92943 2835 2834 958 958 0.05 0.36 3.36 5.69 721.39 721.39 77.30 45.64 27.07 30.56 45.76 25.77 4.64 AA- 26.11.2012 Baa1 26.11.2012AMGEN INC USD 73226 417 756 27 0 0 24 75.71 17265 17265 18045 18399 6665 6665 1782 1782 6.00 5.96 7.19 8.23 16.43 16.43 13.61 11.90 10.80 3.45 24.07 2.92 38.60 A+ 07.09.2007 Baa1 07.11.2011ANALOG DEVICES INC USD 13999 647 298 1 0 0 4 10.77 2701 2675 2697 2988 942 923 225 225 2.13 2.11 2.18 2.70 21.68 21.68 21.03 16.94 -9.76 1.99 -20.98 4.28 34.52 A- 29.09.2010 A3 25.06.2009APPLE INC USD 434671 1105 939 0 0 0 121 297.56 156508 164687 181211 204263 58518 59255 13978 13978 44.15 44.10 44.13 49.77 10.48 10.48 10.48 9.29 44.58 41.47 64.36 65.35 35.98 NR 16.04.2004 WR 31.03.2004APPLIED MATERIALS INC USD 16093 2523 1197 2 0 0 2 16.29 8719 8103 7822 9351 1422 1285 317 317 0.75 0.62 0.61 1.07 21.63 21.63 22.13 12.50 -17.10 0.23 -45.03 -11.81 15.86 A- 21.12.1999 A3 20.08.1997AUTODESK INC USD 9123 417 224 1 0 0 2 7.50 2312 2312 2447 2649 478 478 161 161 1.09 1.14 2.12 2.46 35.61 35.61 19.17 16.52 4.36 1.06 1.66 -1.18 20.66 BBB 05.12.2012 Baa2 10.12.2012AUTOMATIC DATA PROCESSING USD 31429 725 484 0 0 0 2 29.94 10665 10945 11314 12148 2342 2375 779 779 2.74 2.79 2.91 3.17 23.23 23.23 22.28 20.42 7.95 5.09 6.64 4.99 21.70 AAA 29.10.1998 - -AVAGO TECHNOLOGIES LTD USD 8805 232 245 0 0 0 1 7.66 2K 2K 2K 3K 744 740 173 173 2.27 2.29 2.62 2.98 15.62 15.62 13.64 11.99 1.20 8.15 -0.13 39.47 31.13 - - - -BAIDU INC - SPON ADR USD 30095 478 350 12 0 1 32 167.63 22306 22306 30384 39327 12133 12133 2805 2805 29.83 29.82 33.59 41.93 17.94 17.94 15.92 12.75 53.83 63.25 43.39 75.53 54.39 - - A3 06.11.2012BED BATH & BEYOND INC USD 14622 459 236 0 0 0 2 13.84 9500 10245 10909 11614 1752 1782 655 655 4.06 4.38 4.58 5.06 14.76 14.76 14.13 12.78 8.46 8.66 19.02 11.38 17.40 BBB+ 30.06.2011 - -BIOGEN IDEC INC USD 41849 438 237 1 0 0 4 39.25 5516 5516 6412 7509 2204 2204 532 532 5.73 5.73 7.79 9.63 30.91 30.91 22.74 18.39 9.27 9.86 3.06 11.87 39.96 BBB+ 04.12.2008 Baa2 19.03.2012BMC SOFTWARE INC USD 6541 371 162 1 0 0 2 6.69 2172 2198 2224 2320 769 702 222 222 2.36 2.16 3.42 3.84 21.19 21.19 13.39 11.92 5.17 4.81 6.32 13.24 31.93 BBB+ 22.07.2010 Baa2 23.07.2010BROADCOM CORP-CL A USD 19605 1097 569 2 0 0 4 17.58 8006 8006 8443 9303 1297 1297 284 284 1.45 1.44 2.76 3.04 23.93 23.93 12.48 11.33 8.35 16.32 2.94 48.35 16.20 A- 11.08.2011 A2 27.10.2010CA INC USD 11389 636 466 1 0 0 3 10.14 4814 4680 4637 4677 1805 1836 403 403 1.90 1.99 2.42 2.54 12.55 12.55 10.34 9.84 8.69 1.88 11.15 14.58 39.23 BBB+ 11.04.2011 Baa2 13.08.2010CATAMARAN CORP USD 10848 347 205 1 0 0 0 11.65 9940 9940 14511 16281 367 367 146 146 0.87 0.87 1.87 2.36 60.69 60.69 28.25 22.42 99.78 303.30 120.71 82.08 3.70 BB 22.05.2012 - -CELGENE CORP USD 47109 682 420 3 0 0 4 46.29 5507 5507 6112 7016 2199 2199 724 724 4.01 3.90 5.68 6.85 28.85 28.85 19.80 16.42 13.73 29.21 32.20 36.40 39.93 BBB+ 04.10.2010 Baa2 04.10.2010CERNER CORP USD 16057 211 172 0 0 0 1 15.22 2665 2665 3005 3383 794 794 219 219 2.26 2.26 2.80 3.29 41.26 41.26 33.30 28.32 20.98 12.78 18.13 17.35 29.80 - - - -C.H. ROBINSON WORLDWIDE INC USD 9396 371 161 0 0 0 0 9.51 11359 11359 12978 14119 713 713 192 192 2.76 2.74 3.07 3.48 21.54 21.54 19.22 16.94 9.89 8.96 -1.63 5.84 6.28 - - - -CHECK POINT SOFTWARE TECH USD 9574 814 199 0 0 0 3 6.28 1343 1343 1423 1517 761 761 192 192 2.94 2.96 3.43 3.76 15.71 15.71 13.57 12.38 7.68 12.54 9.76 17.15 56.71 - - - -CISCO SYSTEMS INC USD 110638 2102 5298 16 0 0 49 80.56 46061 47252 48708 51403 12971 13372 3802 3802 1.55 1.62 2.00 2.11 12.79 12.79 10.39 9.83 6.58 4.44 18.36 5.10 28.30 A+ 10.02.2006 A1 10.02.2006CITRIX SYSTEMS INC USD 13233 823 186 0 0 0 1 12.30 2586 2586 2971 3355 606 606 188 188 1.86 1.75 3.14 3.60 40.57 40.57 22.59 19.72 17.21 13.28 5.10 15.29 23.42 NR 04.02.2005 - -COGNIZANT TECH SOLUTIONS-A USD 22519 368 302 0 0 0 3 19.66 7346 7346 8620 10011 1518 1518 405 405 3.44 3.44 4.30 4.98 21.69 21.69 17.35 15.00 20.02 26.92 20.42 28.37 20.66 - - - -COMCAST CORP-CLASS A USD 108404 1457 2639 40 0 17 12 153.89 62570 62570 64235 68029 19977 19977 5022 5022 1.92 1.93 2.39 2.74 21.49 21.49 17.34 15.16 12.05 16.15 8.82 11.13 31.93 A- 14.02.2013 A3 13.02.2013COSTCO WHOLESALE CORP USD 46133 164 432 1 #VALUE! 0 5 45.52 99137 103128 106075 115242 3667 3874 930 930 3.89 4.32 4.55 5.03 24.46 24.46 23.22 21.01 11.50 8.06 11.02 10.87 3.76 A+ 28.11.2012 A1 26.03.2012DELL INC USD 25335 3115 1738 9 0 0 13 21.66 56940 56940 55902 56163 4156 4156 974 974 1.48 1.49 1.57 1.72 9.73 9.73 9.25 8.44 -8.27 -1.66 -22.56 0.13 7.30 A- *- 05.02.2013 Baa1 *- 05.02.2013DENTSPLY INTERNATIONAL INC USD 5985 161 142 2 0 0 0 7.47 2928 2928 3051 3187 537 537 153 153 1.98 1.95 2.42 2.69 21.49 21.49 17.29 15.59 15.40 7.52 27.33 5.25 18.33 BBB+ 02.09.2011 Baa2 16.08.2011DIRECTV USD 32576 1649 587 18 0 0 2 49.04 29740 29740 31930 34148 7447 7447 1891 1891 4.52 4.54 4.90 5.77 12.52 12.52 11.61 9.86 9.23 10.57 7.32 12.83 25.04 BBB 25.02.2011 - -DISCOVERY COMMUNICATIONS-A USD 28342 344 304 5 0 0 1 32.39 4487 4521 5545 6087 1978 1975 522 522 2.52 2.51 3.40 4.21 31.69 31.69 23.43 18.88 7.65 - 8.50 - 43.69 BBB 09.03.2011 - -DOLLAR TREE INC USD 10985 892 225 0 0 0 0 10.86 7395 7395 7935 8637 1095 1095 254 254 2.68 2.53 2.78 3.21 19.11 19.11 17.39 15.09 11.52 11.62 15.79 17.48 14.81 - - - -EBAY INC USD 67133 1333 1294 5 0 0 9 62.24 14072 14071 16351 18761 4088 4090 1237 1237 1.95 1.94 2.76 3.23 26.67 26.67 18.78 16.03 20.77 13.73 23.39 9.42 29.07 A 02.03.2010 A2 21.10.2010EQUINIX INC USD 10342 119 49 3 0 0 0 13.02 1896 1914 2216 2544 818 819 236 236 2.99 2.99 3.76 5.26 70.88 70.88 56.38 40.30 20.76 29.85 23.95 49.56 42.81 BB 28.02.2013 Ba3 28.02.2013EXPEDIA INC USD 8406 690 135 1 0 0 2 7.83 4030 4030 4678 5253 809 809 103 103 2.70 2.71 3.46 4.13 22.91 22.91 17.94 15.02 16.86 8.40 12.52 2.11 20.08 BBB- 22.12.2011 Ba1 30.10.2009EXPEDITORS INTL WASH INC USD 7393 828 206 0 0 0 1 6.14 5981 5981 6380 6951 571 571 143 143 1.57 1.57 1.80 2.05 22.80 22.80 19.84 17.44 -2.76 1.93 -13.03 4.22 9.54 - - - -EXPRESS SCRIPTS HOLDING CO USD 47825 910 818 16 0 0 3 60.96 93858 94235 100902 102195 4657 4672 1544 1544 2.46 2.43 4.27 4.91 24.05 24.05 13.70 11.89 103.47 43.89 81.37 32.09 4.96 BBB+ 31.05.2012 Baa3 04.06.2009F5 NETWORKS INC USD 6882 192 79 0 0 0 1 6.36 1377 1420 1562 1808 461 475 142 142 3.46 3.51 5.02 5.81 24.98 24.98 17.43 15.07 19.57 19.35 24.19 28.96 33.43 - - - -FACEBOOK INC-A USD 60042 4811 2372 2 0 0 10 52.77 5089 5089 6672 8427 1187 1187 739 739 0.01 0.02 0.57 0.77 1260.00 1260.00 44.29 32.56 37.13 - -42.91 - 23.32 - - - -FASTENAL CO USD 14971 244 297 0 0 0 0 14.89 3134 3134 3471 3910 727 727 191 191 1.42 1.42 1.63 1.91 35.55 35.55 30.91 26.43 13.25 8.59 17.41 11.95 23.21 - - - -FISERV INC USD 11551 100 133 3 0 0 0 14.42 4482 4482 4887 5102 1410 1410 373 373 4.38 4.48 5.97 6.65 19.31 19.31 14.50 13.00 3.34 1.00 4.83 8.80 31.46 BBB- 02.03.2010 Baa2 08.11.2007FOSSIL INC USD 5665 210 53 0 0 0 0 5.57 2858 2858 3166 3453 554 554 105 105 5.37 5.41 6.06 6.88 17.64 17.64 15.76 13.88 11.30 15.87 5.81 20.38 19.40 - - - -GARMIN LTD USD 6511 273 196 0 0 0 3 3.64 2716 2716 2555 2508 695 695 112 112 2.76 2.85 2.41 2.46 11.68 11.68 13.80 13.54 -1.55 -8.13 7.15 -6.49 25.58 - - - -GILEAD SCIENCES INC USD 69238 762 1519 8 0 0 3 75.12 9703 9703 10748 12727 4288 4288 1116 1116 1.70 1.70 2.07 2.90 26.74 26.74 21.91 15.68 15.71 19.77 4.80 14.12 44.20 A- 23.03.2011 Baa1 23.03.2011GOOGLE INC-CL A USD 268688 116 330 6 0 0 50 224.67 50175 51379 47959 56130 15722 15684 5178 5178 34.02 33.74 45.83 53.82 24.02 24.02 17.68 15.06 32.37 24.66 15.66 21.04 30.53 AA 19.11.2012 Aa2 16.05.2011HENRY SCHEIN INC USD 7981 89 88 1 0 0 0 8.83 8940 8940 9516 10039 759 759 185 185 4.44 4.43 4.87 5.39 20.57 20.57 18.71 16.92 4.80 7.43 8.80 10.46 8.50 - - - -INTEL CORP USD 106141 3444 4944 13 0 0 23 97.00 53341 53341 53942 56527 22160 22160 4602 4602 2.13 2.13 2.02 2.18 10.06 10.06 10.59 9.82 -1.22 6.39 -5.87 10.34 41.54 A+ 17.02.1993 A1 14.09.2011INTUIT INC USD 19482 544 295 0 0 0 1 19.32 4151 4211 4594 5017 1419 1307 1427 1427 2.50 2.36 3.44 3.78 27.85 27.85 19.10 17.40 10.05 3.29 8.49 11.70 31.04 BBB 29.05.2008 Baa1 04.06.2010 Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  3. 3. Valuation Measures I/II Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth Market Total Minority Cash and Enterprise Est. Tot. Est. P/E Est. Est. Est. Est. S&P LT Moodys LT Capitalization (in mio Daily Common Total Debt Preferred Interest Equivalents Value Tot. Rev. - Rev. - Tr. Est. Tot. Est. Tot. Est. EBITDA - Est. EBITDA - Est. EBITDA - Est. EPS - Est. EPS - Est. EPS - P/E Ratio - Ratio - Tr. Est. P/E Est. P/E Revenue Revenue Est. EBITDA EBITDA Est. EBITDA Credit S&P LT Credit Credit Moodys LT Credit Currency USD) Volume (M) Shares (M) (USD) Stock (USD) (USD) (USD) (USD) LFY 12M Rev. - 2013 Rev. - 2014 EBITDA - LFY Tr. 12M 2013 2014 EPS - LFY Tr. 12M 2013 2014 LFY 12M Ratio - 2013 Ratio - 2014 Growth - 1Y Growth - 5Y Growth - 1Y Growth - 5Y Margin - Rating - Rating Date Rating Rating DateS&P 500 INDEX USD 14281184 1923.576 1116 1116 204 220 220 101.41 110.54 110.54 15.38 15.38 14.11 14.11 18.80Euro Stoxx 50 Pr EUR 2553062 5424.032 4630 4630 739 775 775 229.96 307.93 307.93 19.02 16.41 14.21 14.21 19.70NIKKEI 225 JPY 2554354 186.4402 188 188 19 20 20 5.28 5.50 5.50 0.27 0.27 0.25 0.25 0.12FTSE 100 INDEX GBP 2682474 11610.68 9614 9614 1447 1650 1650 531.79 820.72 820.72 27.64 - 17.91 17.91 22.24SWISS MARKET INDEX CHF 1031660 10946.31 4119 4119 844 836 836 408.77 551.74 551.74 21.20 18.86 15.71 15.71 21.93S&P/TSX COMPOSITE INDEX CAD 1675907 17151.75 7923 7923 1852 2088 2088 796.17 890.32 890.32 15.37 15.37 13.74 13.74 24.29S&P/ASX 200 INDEX AUD 1408237 6730.544 2878 2878 607 705 705 252.53 342.62 342.62 21.54 17.43 15.87 15.87 22.39HANG SENG INDEX HKD 1692248 3310.555 1659 1659 376 407 407 268.25 266.15 266.15 1.38 1.51 1.39 1.39 3.12MSCI EM USD 7658673 1544.178 1079 1079 201 220 220 86.99 95.05 95.05 11.75 13.38 10.76 10.76 20.03INTUITIVE SURGICAL INC USD 20081 164 40 0 0 0 1 18.76 2179 2179 2563 2957 936 936 230 230 15.98 15.96 17.59 20.65 31.16 31.16 28.27 24.08 23.99 26.50 26.25 29.59 42.95 - - - -KLA-TENCOR CORPORATION USD 8648 424 167 1 0 0 3 6.82 3172 3127 2885 3313 1108 1034 213 213 4.64 4.25 3.26 4.52 12.25 12.25 15.95 11.52 -0.10 7.21 -11.07 9.66 33.07 BBB 28.04.2008 Baa1 29.04.2008KRAFT FOODS GROUP INC USD 30476 659 #VALUE! 0 0 0 0 39.81 18339 #VALUE! 18808 19311 3285 - 817 817 2.91 - 2.81 3.12 - - 18.30 16.45 -1.69 - - - - BBB 19.07.2012 Baa2 16.07.2012LIBERTY GLOBAL INC-A USD 17843 685 259 28 0 0 2 43.20 10311 10311 13284 14933 4757 4757 1306 1306 -1.71 -1.79 1.90 2.95 - - 37.62 24.31 8.41 2.82 9.34 7.11 46.14 B+ *+ 06.02.2013 - -LIBERTY INTERACTIVE CORP-A USD 11739 835 545 8 0 4 4 19.63 10054 10054 10402 10929 1809 1809 436 436 -0.34 -0.29 1.16 1.38 - - 18.74 15.69 4.55 5.26 1.97 1.87 17.99 BB 29.09.2011 - -LIFE TECHNOLOGIES CORP USD 10912 270 171 2 0 0 0 13.07 3799 3799 3928 4071 1167 1167 299 299 2.72 2.70 4.37 4.77 23.72 23.72 14.65 13.43 0.60 27.22 0.54 29.53 30.72 BBB+ 29.11.2012 Baa3 06.03.2012LINEAR TECHNOLOGY CORP USD 8814 516 230 1 0 0 1 8.33 1267 1283 1287 1431 638 636 151 151 1.71 1.69 1.79 2.07 22.43 22.43 21.20 18.34 -14.65 3.85 -21.96 2.10 49.59 - - - -MATTEL INC USD 15007 546 342 2 0 0 1 15.18 6421 6421 6834 7142 1195 1195 89 89 2.47 2.50 2.80 3.07 17.42 17.42 15.56 14.21 2.47 0.84 -0.59 5.79 18.62 BBB+ 04.04.2011 Baa1 29.04.2011MAXIM INTEGRATED PRODUCTS USD 9409 569 293 0 0 0 1 8.69 2404 2405 2465 2685 783 801 201 201 1.27 1.56 1.79 2.11 20.62 20.62 18.01 15.27 -2.78 3.93 -10.98 11.36 33.31 BBB+ 09.05.2012 Baa1 10.06.2010MICROCHIP TECHNOLOGY INC USD 7172 361 193 0 0 0 1 6.52 1383 1490 1600 1845 497 405 110 110 1.66 1.53 1.84 2.15 23.99 23.99 19.96 17.11 -6.99 13.84 -14.74 1.38 27.20 - - - -MICRON TECHNOLOGY INC USD 10136 5505 1018 3 0 1 3 11.74 8234 8047 8633 10369 1523 1467 599 599 -1.06 -1.06 -0.38 0.75 - - #VALUE! 13.16 -6.30 15.62 -46.75 0.62 18.23 BB- 30.06.2011 Ba3 20.08.2012MICROSOFT CORP USD 236587 2197 8381 12 0 0 63 182.46 73723 72930 79390 85801 30923 29120 8110 8110 2.73 2.56 2.84 3.14 11.00 11.00 9.93 8.97 5.40 5.66 3.33 9.15 39.93 AAA 22.09.2008 Aaa 11.05.2009MONDELEZ INTERNATIONAL INC-A USD 53491 1074 1778 19 0 0 4 68.58 35 K 49 K 37 K 39 K 5028 7727 1384 1384 1.39 2.24 1.57 1.76 13.44 13.44 19.22 17.08 -2.22 0.57 1.00 -0.96 15.84 BBB 02.02.2010 Baa2 02.02.2010MONSTER BEVERAGE CORP USD 8084 387 166 0 0 0 0 7.76 2061 2061 2323 2612 571 571 137 137 1.86 1.86 2.24 2.66 26.25 26.25 21.84 18.33 20.99 14.14 20.63 19.62 27.72 - - - -MYLAN INC USD 11479 1254 395 6 0 0 0 16.88 6796 6817 7181 7728 1719 1831 465 465 1.89 1.93 2.86 3.20 15.04 15.04 10.14 9.07 10.87 8.37 9.83 31.53 26.87 BBB- 20.11.2012 Baa3 20.11.2012NETAPP INC USD 12005 984 365 1 0 0 5 7.52 6233 6318 6372 6923 1049 967 369 369 1.61 1.37 2.28 2.53 24.31 24.31 14.63 13.17 21.68 14.59 5.21 22.10 15.30 BBB+ 04.12.2012 Baa1 05.12.2012NEWS CORP-CL A USD 70531 831 2383 15 #VALUE! 1 10 80.68 33706 34333 35613 38024 6646 6754 1688 1688 1.41 1.57 1.68 1.98 19.26 19.26 18.02 15.30 0.90 2.06 8.36 4.21 19.67 BBB+ 30.11.2012 - -NUANCE COMMUNICATIONS INC USD 6322 934 312 2 0 0 1 7.70 1652 1753 2167 2446 380 380 193 193 0.96 0.89 1.81 2.03 22.46 22.46 11.07 9.86 25.23 18.98 41.82 33.78 21.66 BB- 11.02.2011 Ba3 06.08.2012NVIDIA CORP USD 7700 1551 617 0 0 0 4 3.99 4280 4280 4256 4635 874 874 128 128 0.94 0.91 0.85 0.97 13.74 13.74 14.72 12.89 7.06 11.62 2.58 -2.04 20.43 NR 07.05.2009 - -OREILLY AUTOMOTIVE INC USD 11530 192 113 1 0 0 0 12.38 6182 6182 6660 7075 1154 1154 300 300 4.75 4.75 5.72 6.48 21.81 21.81 18.11 15.98 6.80 22.91 12.10 24.62 18.67 BBB 18.01.2012 Baa3 11.01.2011ORACLE CORP USD 148244 3115 4905 16 0 0 31 135.03 37121 37149 37444 39560 16973 17286 5889 5889 2.00 2.16 2.69 2.93 14.61 14.61 11.73 10.76 4.21 11.70 9.33 18.51 46.53 A+ 24.04.2012 A1 24.06.2011PACCAR INC USD 17726 400 353 0 0 0 2 15.48 17051 17051 16096 17675 2296 2296 426 426 3.12 3.12 3.18 3.57 16.07 16.07 15.79 14.04 4.25 6.40 6.65 1.08 13.47 A+ 29.04.2010 A1 25.02.2009PAYCHEX INC USD 12672 640 363 0 0 0 0 12.37 2230 2269 2325 2465 952 972 243 243 1.51 1.54 1.59 1.70 22.62 22.62 21.86 20.47 6.98 2.40 8.75 4.19 42.85 - - - -PERRIGO CO USD 10996 150 93 1 0 0 1 11.91 3173 3263 3587 4027 713 774 238 238 4.51 5.00 5.68 6.64 23.51 23.51 20.69 17.71 15.18 15.43 20.05 33.72 23.73 - - - -PRICELINE.COM INC USD 34640 93 50 1 0 0 5 31.02 5261 5261 6530 7724 1895 1895 340 340 27.86 27.91 38.76 46.07 24.89 24.89 17.92 15.08 20.79 29.06 30.44 60.37 36.02 BBB 07.03.2012 - -QUALCOMM INC USD 113998 1090 1706 0 0 0 27 85.68 19121 20458 24134 26887 6579 7149 2345 2345 2.79 3.84 4.51 4.91 17.28 17.28 14.72 13.52 27.84 20.60 8.08 15.03 34.94 NR 19.12.2001 - -RANDGOLD RESOURCES LTD-ADR USD 7794 81 92 0 0 0 0 7.59 1318 1318 1607 2150 699 699 - - 4.70 4.70 5.86 8.20 18.01 18.01 14.43 10.31 16.92 45.49 22.71 53.34 53.06 - - - -REGENERON PHARMACEUTICALS USD 16545 74 97 0 0 0 1 16.42 1378 1378 1881 2292 495 495 168 168 6.75 6.61 5.09 6.79 25.69 25.69 33.39 25.00 209.20 65.37 - - 35.88 - - - -ROSS STORES INC USD 13216 582 227 0 0 0 1 12.72 9721 9721 10266 10979 1457 1457 424 424 3.53 3.53 3.85 4.33 16.84 16.84 15.44 13.73 12.93 10.88 19.12 21.88 14.99 BBB+ 08.06.2011 - -SANDISK CORP USD 13367 507 241 2 0 0 6 9.35 5053 5053 5608 6170 1113 1113 317 317 1.70 1.69 3.78 4.22 32.70 32.70 14.61 13.10 -10.77 7.31 -38.39 15.61 22.03 BB 20.12.2011 - -SBA COMMUNICATIONS CORP-CL A USD 9118 226 127 5 0 0 0 14.25 954 954 1222 1310 602 602 185 185 -1.00 -0.98 -0.79 -0.17 - - #VALUE! #VALUE! 36.65 23.27 39.32 23.72 63.14 B+ 10.04.2012 WR 01.08.2006SEAGATE TECHNOLOGY USD 12876 2574 396 3 0 0 2 13.84 14939 16332 14137 13697 3926 4319 704 704 6.51 7.57 5.19 5.40 4.74 4.74 6.91 6.64 36.17 4.37 148.80 21.32 26.45 BB+ 07.03.2011 - -SEARS HOLDINGS CORP USD 5414 128 106 3 0 0 1 8.34 39854 39854 36896 36739 -146 -146 - - -2.03 -2.61 -2.66 -2.17 - - #VALUE! #VALUE! -4.12 -4.12 -131.75 - -0.37 CCC+ 05.01.2012 - -SIGMA-ALDRICH USD 9224 259 120 1 0 0 1 9.18 2623 2623 2712 2840 809 809 199 199 3.85 3.87 4.14 4.42 19.79 19.79 18.51 17.31 4.71 4.39 6.31 7.73 30.84 A+ 28.09.2011 A2 25.10.2010SIRIUS XM RADIO INC USD 20234 4587 5262 2 0 0 1 22.15 3402 3402 3811 4177 1136 1136 257 257 0.09 0.54 0.10 0.13 5.71 5.71 31.16 23.73 12.85 37.39 20.65 - 33.38 BB 26.10.2011 B1 08.08.2012STAPLES INC USD 8896 1166 669 2 0 0 1 9.56 24381 24524 23895 23939 2015 2000 418 418 0.85 0.87 1.33 1.42 15.30 15.30 10.03 9.35 -1.15 4.45 -4.75 0.80 8.15 BBB 02.07.2008 Baa2 08.07.2008STARBUCKS CORP USD 42688 380 749 1 0 0 2 40.78 13300 13663 14921 16722 2367 2446 689 689 1.79 1.86 2.16 2.63 30.57 30.57 26.28 21.65 13.67 6.80 14.11 10.50 17.90 A- 24.02.2012 Baa3 13.05.2009STERICYCLE INC USD 9008 97 86 1 0 0 0 10.35 1913 1913 2140 2327 545 556 156 156 3.30 3.31 3.70 4.18 31.61 31.61 28.31 25.04 14.15 15.02 11.17 16.22 29.08 NR 18.07.2007 - -SYMANTEC CORP USD 16933 2022 724 2 0 0 3 15.76 6730 6839 6886 7005 1795 1834 497 497 1.20 1.24 1.71 1.93 19.81 19.81 14.35 12.76 8.72 3.43 8.92 5.06 26.82 BBB 13.09.2010 Baa2 13.09.2010TEXAS INSTRUMENTS INC USD 38402 863 1108 6 0 0 4 40.12 12825 12825 12173 12983 3986 3988 719 719 1.91 1.79 1.71 2.16 19.40 19.40 20.27 16.11 -6.63 -1.58 -10.10 -2.68 31.10 A+ 23.09.2010 A1 25.05.2011VERISK ANALYTICS INC-CLASS A USD 11227 156 168 1 0 0 0 12.59 1534 1534 1725 1884 696 696 181 181 1.92 1.92 2.35 2.64 31.97 31.97 26.12 23.23 15.20 - 18.20 15.57 45.35 BBB- 29.03.2011 Ba1 29.03.2011VERTEX PHARMACEUTICALS INC USD 11856 394 217 0 0 0 1 11.20 1527 1527 1160 1047 42 42 -15 -15 0.67 0.31 -0.56 -0.88 175.29 175.29 #VALUE! #VALUE! 8.25 155.92 -83.50 - 2.77 - - - -VIACOM INC-CLASS B USD 30442 523 507 8 0 0 1 38.33 13887 13249 13796 14412 4137 3913 905 905 4.21 4.20 4.71 5.38 14.60 14.60 13.03 11.40 -6.89 2.72 0.29 - 29.53 BBB+ 29.07.2010 Baa1 05.08.2010VIRGIN MEDIA INC USD 12958 769 269 6 0 0 0 14.29 4101 4101 4255 4389 1654 1654 425 425 1.09 1.04 1.54 2.03 30.58 30.58 20.67 15.68 2.72 -0.06 3.98 5.67 40.32 BB *- 06.02.2013 - -VODAFONE GROUP PLC-SP ADR USD 140115 1846 #VALUE! 35 0 1 8 #VALUE! 46417 44677 45079 45316 18214 13907 - - - - 1.63 1.70 - - 11.62 11.15 1.16 5.40 24.18 7.88 31.13 A- 30.05.2006 A3 03.08.2011WESTERN DIGITAL CORP USD 11711 1120 246 2 #VALUE! #VALUE! 3 10.02 12478 15648 15048 14751 2890 3716 757 757 7.78 9.19 7.97 7.83 5.29 5.29 6.11 6.21 30.99 18.63 108.97 35.83 23.75 NR 29.04.1999 - -WHOLE FOODS MARKET INC USD 16100 287 185 0 0 0 1 15.20 11699 12164 13059 14931 1112 1171 299 299 2.71 2.85 2.87 3.40 30.48 30.48 30.23 25.54 15.74 9.56 25.78 18.10 9.62 BBB- 07.08.2012 - -WYNN RESORTS LTD USD 12568 372 101 6 0 0 2 17.02 5154 5154 5389 5665 1442 1442 410 410 5.22 5.27 6.08 6.73 23.63 23.63 20.47 18.52 -2.19 15.11 -6.15 15.28 27.99 BB+ 10.06.2011 - -XILINX INC USD 9992 455 264 1 0 0 2 9.22 2241 2195 2170 2305 719 671 161 161 1.99 1.80 1.77 2.00 21.22 21.22 21.58 19.13 -5.43 1.77 -16.86 11.13 30.55 BBB+u 04.04.2012 - -YAHOO! INC USD 25969 3571 1115 0 0 0 6 20.03 4987 4987 4601 4767 1457 1457 361 361 1.13 1.17 1.16 1.28 20.15 20.15 20.38 18.38 0.05 -5.80 -1.08 1.47 29.22 NR 18.04.2008 - - Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  4. 4. Valuation Measures II/II Price to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Price to Earnings Ratio Estimated Dividend Yield Target 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to SpotS&P 500 INDEX 2.16 2.16 1.99 1.80 2.16 1.40 1.40 1.33 1.28 1.40 9.99 9.99 9.69 9.48 9.99 8.74 8.74 8.08 7.57 8.74 14.11 14.11 12.64 11.43 14.11 2.21 2.21 2.37 2.56 2.21 1681.4 7.8%Euro Stoxx 50 Pr 1.14 1.14 1.08 1.02 1.14 0.73 0.73 0.71 0.69 0.73 5.32 5.32 4.97 4.74 5.32 7.00 7.00 6.62 6.30 7.00 11.05 11.05 9.90 9.06 11.05 4.35 4.35 4.68 4.98 4.35 2895.5 9.4%NIKKEI 225 1.50 1.50 1.41 1.32 1.50 0.70 0.70 0.66 0.65 0.70 9.47 9.47 8.14 7.61 9.47 9.50 9.50 8.28 7.76 9.50 24.04 24.04 18.83 14.58 24.04 1.65 1.65 1.66 1.94 1.65 11916.4 -4.5%FTSE 100 INDEX 1.68 1.68 1.56 1.35 1.68 1.01 1.01 0.97 0.99 1.01 7.91 7.91 7.28 5.26 7.91 7.04 7.04 6.59 6.32 7.04 11.82 11.82 10.72 9.82 11.82 3.89 3.89 4.18 4.61 3.89 6809.6 6.4%SWISS MARKET INDEX 2.39 2.39 2.22 2.05 2.39 2.00 2.00 1.90 1.82 2.00 12.30 12.30 11.24 9.87 12.30 13.09 13.09 12.11 11.32 13.09 14.91 14.91 13.35 12.12 14.91 3.31 3.31 3.67 4.16 3.31 8026.2 2.8%S&P/TSX COMPOSITE INDEX 1.68 1.68 1.55 1.45 1.68 1.57 1.57 1.48 1.42 1.57 8.40 8.40 7.54 7.00 8.40 8.22 8.22 7.27 6.88 8.22 13.98 13.98 12.32 11.33 13.98 3.14 3.14 3.29 3.49 3.14 14540.6 14.8%S&P/ASX 200 INDEX 1.88 1.88 1.78 1.68 1.88 1.80 1.80 1.70 1.61 1.80 11.09 11.09 9.90 9.04 11.09 9.54 9.54 8.40 7.80 9.54 15.14 15.14 13.48 12.37 15.14 4.39 4.39 4.70 5.07 4.39 5152.0 4.1%HANG SENG INDEX 1.33 1.33 1.23 1.15 1.33 1.73 1.73 1.60 1.49 1.73 7.12 7.12 6.60 6.21 7.12 8.13 8.13 7.39 6.84 8.13 10.80 10.80 9.91 9.02 10.80 3.57 3.57 3.85 4.37 3.57 24942.6 11.8%MSCI EM 1.43 1.43 1.30 1.21 1.43 0.95 0.95 0.88 0.84 0.95 6.85 6.85 6.30 5.89 6.85 7.03 7.03 6.45 6.05 7.03 10.76 10.76 9.67 8.97 10.76 3.08 3.08 3.59 6.74 3.08 1183.8 15.8%ACTIVISION BLIZZARD INC 1.43 1.35 1.27 1.18 3.33 3.77 3.44 3.28 3.30 12.08 15.02 13.23 11.12 6.77 8.20 7.00 6.39 6.53 12.90 17.03 14.04 12.35 11.76 1.21 1.29 1.31 0.85 15.99 10.6%ADOBE SYSTEMS INC 3.20 3.02 2.78 2.48 4.93 5.21 4.72 4.10 3.41 14.63 18.72 16.19 13.44 10.86 16.13 13.55 11.28 18.49 30.10 23.84 18.04 12.72 0.00 0.00 0.00 0.00 43.69 2.2%AKAMAI TECHNOLOGIES INC 2.77 2.45 2.19 2.01 4.53 4.13 3.64 3.19 2.75 13.74 12.35 10.95 10.14 8.37 8.05 6.96 5.97 4.93 19.83 17.91 15.85 14.08 11.46 0.00 0.00 0.00 0.00 41.59 18.6%ALEXION PHARMACEUTICALS INC 11.23 8.75 6.44 4.96 15.79 11.81 9.42 7.70 6.47 48.26 33.38 25.99 21.19 36.54 26.02 19.05 14.35 44.54 31.57 27.43 22.03 17.78 0.00 0.00 0.00 0.00 113.89 24.7%ALTERA CORP 3.40 3.09 2.79 2.70 6.26 6.16 5.41 4.87 17.84 17.90 14.07 15.92 13.71 14.59 11.79 10.70 20.39 22.86 18.83 16.19 1.02 1.16 1.22 1.25 35.91 2.2%AMAZON.COM INC 15.45 12.12 9.86 7.53 6.25 1.90 1.56 1.27 1.05 0.86 40.11 26.94 18.00 13.21 7.67 34.79 24.02 17.53 13.01 9.12 135.20 77.29 45.63 26.70 17.28 0.00 0.00 0.00 0.00 318.97 22.8%AMGEN INC 3.83 3.19 2.79 2.29 4.26 4.06 3.98 3.96 3.94 11.88 13.12 12.09 13.38 21.66 10.21 10.11 9.17 9.26 15.07 13.60 11.90 11.39 11.06 1.46 1.90 2.30 2.55 2.42 97.95 0.1%ANALOG DEVICES INC 3.36 3.00 2.67 2.46 5.18 5.19 4.68 4.28 17.19 17.36 14.42 12.39 11.38 11.59 9.51 8.64 21.41 21.03 16.94 14.74 2.52 2.88 3.06 3.04 48.09 5.1%APPLE INC 3.71 3.01 2.42 1.94 1.53 2.78 2.40 2.13 1.88 1.78 8.43 8.37 7.85 7.55 5.09 4.95 4.42 4.00 3.51 10.44 10.49 9.30 8.50 10.00 0.57 2.34 2.46 2.56 2.29 600.48 29.7%APPLIED MATERIALS INC 2.11 2.25 2.11 1.71 1.86 2.06 1.72 1.70 8.43 20.95 11.06 9.38 9.93 12.41 8.17 8.07 18.57 22.13 12.50 13.08 2.50 2.60 2.61 2.46 14.48 8.0%AUTODESK INC 4.47 3.99 3.47 2.86 3.98 3.73 3.44 3.10 2.75 15.86 13.88 12.91 11.73 11.54 10.39 9.30 8.49 21.27 19.17 16.52 14.41 0.00 0.00 0.00 0.00 42.31 4.2%AUTOMATIC DATA PROCESSING 5.17 4.71 4.27 4.01 2.94 2.78 2.59 2.39 2.26 18.16 16.92 15.99 14.95 13.35 12.77 11.70 10.76 10.56 23.68 22.28 20.42 18.46 17.08 2.39 2.58 2.71 2.90 64.63 -0.3%AVAGO TECHNOLOGIES LTD 3.67 3.13 2.68 2.17 3.73 3.68 3.31 2.90 2.69 12.14 11.90 9.86 8.28 9.56 9.88 8.55 7.13 13.10 13.64 11.99 10.21 1.52 1.99 2.21 2.52 3.52 41.31 15.4%BAIDU INC - SPON ADR 7.17 4.90 3.50 2.58 1.93 8.49 6.15 4.76 3.80 3.02 14.71 12.56 9.97 8.09 6.61 13.33 11.57 9.01 7.21 5.72 17.79 15.92 12.75 10.32 8.18 0.00 0.00 0.00 0.00 0.00 124.82 45.0%BED BATH & BEYOND INC 3.92 3.48 3.07 2.66 2.55 1.55 1.34 1.26 1.19 1.12 14.36 12.10 11.15 9.30 8.10 7.49 7.06 6.66 6.07 16.53 14.13 12.78 11.53 10.07 0.00 0.00 0.00 0.00 68.53 6.0%BIOGEN IDEC INC 5.60 5.11 4.25 3.48 7.63 6.53 5.57 4.98 4.48 23.74 21.54 16.64 12.08 16.61 14.24 11.04 9.44 26.93 22.74 18.39 15.53 13.42 0.00 0.00 0.00 0.00 179.76 1.5%BMC SOFTWARE INC 5.32 10.65 8.76 6.85 3.01 2.94 2.82 2.70 9.71 9.10 7.93 7.59 7.58 8.05 7.62 7.25 13.81 13.39 11.92 11.19 0.00 0.00 0.00 0.00 46.88 2.4%BROADCOM CORP-CL A 2.57 2.21 1.93 1.68 2.45 2.32 2.11 1.95 11.61 13.24 11.71 10.93 11.18 11.21 9.73 9.61 11.87 12.48 11.33 11.31 1.15 1.28 1.32 1.40 40.45 17.4%CA INC 2.29 2.11 1.98 1.86 2.37 2.46 2.44 2.42 8.16 8.03 7.38 7.28 5.85 5.85 5.71 5.59 11.14 10.34 9.84 9.39 1.60 4.02 4.02 4.00 25.00 0.1%CATAMARAN CORP 2.07 2.26 2.11 1.92 1.09 0.75 0.67 0.59 0.60 22.93 25.76 23.30 16.76 32.81 17.37 14.21 12.43 11.56 46.98 28.25 22.42 18.51 16.15 0.00 0.00 0.00 0.00 62.80 18.9%CELGENE CORP 7.86 6.07 4.72 3.60 8.53 7.71 6.71 5.64 4.77 23.61 17.74 14.86 10.53 16.76 14.78 12.92 10.65 10.29 22.95 19.80 16.42 12.87 10.19 0.00 0.00 0.00 0.00 114.92 2.1%CERNER CORP 5.89 5.06 4.38 3.75 6.06 5.34 4.75 4.23 3.78 25.32 22.98 20.40 17.95 18.58 15.72 13.66 12.03 39.53 33.30 28.32 24.24 19.92 0.00 0.00 0.00 0.00 95.00 1.9%C.H. ROBINSON WORLDWIDE INC 7.51 5.98 5.51 4.72 0.83 0.72 0.67 0.60 18.60 17.56 15.37 13.72 12.39 11.25 10.10 9.33 21.00 19.22 16.94 14.97 2.26 2.42 2.64 2.95 69.39 17.6%CHECK POINT SOFTWARE TECH 2.86 2.56 2.27 2.01 7.10 6.73 6.31 6.00 5.61 12.81 11.96 10.99 10.76 7.82 7.52 7.02 6.81 14.66 13.57 12.38 11.42 0.00 0.00 0.00 0.00 55.00 18.3%CISCO SYSTEMS INC 2.11 1.90 1.76 1.67 2.40 2.27 2.15 2.02 9.93 9.22 8.93 8.30 5.55 5.28 5.12 4.93 11.29 10.40 9.84 9.10 1.25 2.72 2.80 2.97 23.83 14.9%CITRIX SYSTEMS INC 4.29 4.00 3.66 3.13 5.19 4.45 3.94 3.56 3.13 17.25 14.67 13.14 13.11 15.19 13.17 11.71 10.03 25.21 22.59 19.72 17.69 0.00 0.00 0.00 0.00 84.37 18.8%COGNIZANT TECH SOLUTIONS-A 4.71 3.70 2.99 2.49 3.07 2.61 2.25 1.96 22.23 20.33 16.57 17.77 12.94 11.26 9.66 8.33 20.23 17.35 15.00 13.18 0.00 0.00 0.00 0.00 84.50 13.2%COMCAST CORP-CLASS A 2.20 2.19 2.12 1.90 1.77 1.73 1.69 1.59 1.53 1.46 7.93 7.35 6.75 6.20 7.77 7.36 6.91 6.51 6.21 21.05 17.38 15.20 13.05 11.27 1.53 1.86 2.10 2.41 2.47 46.62 12.2%COSTCO WHOLESALE CORP 3.51 4.13 3.73 3.13 3.15 0.47 0.43 0.40 0.38 0.35 13.66 14.11 12.94 12.40 11.14 10.09 9.55 8.60 27.30 23.24 21.01 19.28 17.33 0.94 7.82 1.19 1.31 1.24 108.00 2.2%DELL INC 2.40 2.02 1.74 1.37 0.45 0.45 0.45 0.45 7.71 6.73 6.46 5.56 4.33 5.02 4.58 3.91 8.51 9.25 8.44 6.25 1.10 2.23 2.28 2.83 14.24 -1.8%DENTSPLY INTERNATIONAL INC 2.76 2.42 2.12 1.91 2.06 1.96 1.88 1.81 14.90 13.08 12.16 10.74 12.76 12.01 11.21 10.50 18.96 17.29 15.59 14.36 0.51 0.58 0.63 0.66 43.56 4.0%DIRECTV 1.10 1.02 0.95 0.90 0.85 6.97 5.67 4.67 3.99 6.60 6.22 5.77 5.48 5.12 13.54 11.61 9.86 8.76 6.72 0.00 0.00 0.00 0.00 57.99 2.0%DISCOVERY COMMUNICATIONS-A 4.92 4.75 4.58 4.15 3.77 6.28 5.11 4.66 4.32 3.88 25.74 20.63 16.90 14.30 12.70 15.51 13.23 11.84 10.80 9.63 29.85 23.43 18.88 16.09 13.31 0.00 0.00 0.00 71.70 -9.9%DOLLAR TREE INC 7.05 5.60 5.10 4.29 3.20 1.49 1.38 1.27 1.17 1.05 16.56 13.87 12.47 10.05 8.87 9.93 9.22 8.23 7.52 6.76 19.32 17.39 15.09 13.03 11.17 0.00 0.00 0.00 49.84 3.1%EBAY INC 3.36 2.85 2.42 2.13 1.75 4.77 4.10 3.58 3.14 2.83 17.27 15.65 12.77 11.05 10.65 13.49 11.57 10.01 8.53 7.60 21.99 18.79 16.04 13.85 12.35 0.00 0.00 0.00 0.00 60.97 17.8%EQUINIX INC 4.38 4.25 3.81 3.37 2.87 5.44 4.67 4.07 3.60 3.26 18.44 18.00 14.89 13.11 10.56 14.73 12.71 10.92 9.74 8.83 79.85 56.38 40.30 25.49 21.41 0.00 0.00 1.13 3.01 2.72 249.29 17.6%EXPEDIA INC 4.66 4.11 3.32 2.77 2.11 1.80 1.60 1.47 1.37 10.32 11.00 9.02 10.61 10.00 8.74 7.59 6.74 5.79 19.92 17.94 15.02 13.72 12.27 0.68 0.71 0.73 0.67 73.53 18.4%EXPEDITORS INTL WASH INC 3.64 3.47 3.19 2.83 1.24 1.16 1.06 0.97 19.51 17.48 15.38 13.98 10.42 9.61 8.57 7.84 22.28 19.84 17.44 15.48 1.56 1.71 1.91 2.07 44.71 24.9%EXPRESS SCRIPTS HOLDING CO 1.96 1.96 1.87 1.73 0.51 0.47 0.47 0.46 0.46 11.78 9.95 8.74 6.54 11.30 9.21 8.36 7.81 7.04 15.69 13.70 11.89 10.32 8.48 0.00 0.00 0.00 0.00 63.97 9.5%F5 NETWORKS INC 5.17 4.19 3.34 2.77 4.98 4.41 3.81 3.27 18.02 17.58 16.87 16.70 11.24 10.26 8.59 7.36 19.72 17.43 15.07 12.35 0.00 0.00 0.00 0.00 113.91 30.1%FACEBOOK INC-A 4.09 4.64 4.08 3.46 3.09 11.94 9.00 7.12 5.66 4.57 33.38 25.12 19.87 15.90 12.12 18.82 15.67 11.87 9.23 7.09 49.03 44.29 32.56 23.73 17.21 0.00 0.00 0.00 0.00 33.48 32.9%FASTENAL CO 8.74 8.02 6.68 5.62 4.59 4.78 4.31 3.83 3.34 3.21 34.58 29.10 25.18 21.53 20.35 20.50 17.54 15.02 12.86 35.65 30.91 26.43 22.24 19.57 1.66 0.97 1.37 1.46 1.53 50.50 0.0%FISERV INC 3.47 3.00 2.61 2.57 2.36 2.26 2.19 2.09 16.91 14.69 13.06 11.61 10.04 9.01 8.50 8.19 7.67 16.82 14.50 13.00 11.89 0.00 0.00 0.00 0.00 88.47 2.2%FOSSIL INC 5.17 4.21 3.37 2.87 2.36 1.99 1.79 1.64 1.48 1.33 16.96 14.57 12.41 11.32 10.18 9.19 8.38 7.44 6.60 17.67 15.76 13.88 12.16 10.18 0.00 0.00 0.00 115.64 21.1%GARMIN LTD 2.34 2.55 2.60 2.80 9.94 11.21 10.47 5.14 6.09 6.03 5.87 11.30 13.80 13.54 14.05 5.26 5.37 5.52 5.41 42.60 28.0%GILEAD SCIENCES INC 6.78 5.38 4.22 3.37 7.24 6.44 5.44 4.53 3.90 21.51 20.26 12.44 7.52 16.10 15.90 11.61 8.07 22.75 21.93 15.69 11.20 9.05 0.00 0.00 0.00 0.00 49.35 8.5%GOOGLE INC-CL A 3.76 3.17 2.69 2.22 1.90 6.44 5.60 4.78 4.34 3.86 16.77 14.15 11.99 11.00 10.08 12.22 10.17 8.68 7.48 6.46 20.40 17.71 15.08 13.04 11.73 0.00 0.00 0.00 0.00 866.85 6.8%HENRY SCHEIN INC 3.14 2.81 2.46 2.17 0.89 0.84 0.80 0.75 17.01 13.73 12.79 11.90 11.80 10.96 10.23 9.84 20.84 18.71 16.92 15.13 0.00 0.00 90.55 -0.7%INTEL CORP 2.18 1.93 1.76 1.74 1.98 1.96 1.88 1.83 1.85 6.07 5.94 5.53 5.39 4.46 4.64 4.26 4.23 4.07 9.65 10.61 9.83 10.38 4.06 4.26 4.38 4.68 23.39 9.0%INTUIT INC 7.34 5.41 4.52 4.86 4.63 4.24 3.88 3.52 3.22 17.79 15.93 14.53 13.20 12.16 11.01 9.92 9.34 9.05 22.13 19.10 17.40 15.71 0.57 1.03 1.03 1.03 68.07 3.6% Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  5. 5. Valuation Measures II/II Price to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Price to Earnings Ratio Estimated Dividend Yield Target 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to SpotS&P 500 INDEX 2.16 2.16 1.99 1.80 2.16 1.40 1.40 1.33 1.28 1.40 9.99 9.99 9.69 9.48 9.99 8.74 8.74 8.08 7.57 8.74 14.11 14.11 12.64 11.43 14.11 2.21 2.21 2.37 2.56 2.21 1681.4 7.8%Euro Stoxx 50 Pr 1.14 1.14 1.08 1.02 1.14 0.73 0.73 0.71 0.69 0.73 5.32 5.32 4.97 4.74 5.32 7.00 7.00 6.62 6.30 7.00 11.05 11.05 9.90 9.06 11.05 4.35 4.35 4.68 4.98 4.35 2895.5 9.4%NIKKEI 225 1.50 1.50 1.41 1.32 1.50 0.70 0.70 0.66 0.65 0.70 9.47 9.47 8.14 7.61 9.47 9.50 9.50 8.28 7.76 9.50 24.04 24.04 18.83 14.58 24.04 1.65 1.65 1.66 1.94 1.65 11916.4 -4.5%FTSE 100 INDEX 1.68 1.68 1.56 1.35 1.68 1.01 1.01 0.97 0.99 1.01 7.91 7.91 7.28 5.26 7.91 7.04 7.04 6.59 6.32 7.04 11.82 11.82 10.72 9.82 11.82 3.89 3.89 4.18 4.61 3.89 6809.6 6.4%SWISS MARKET INDEX 2.39 2.39 2.22 2.05 2.39 2.00 2.00 1.90 1.82 2.00 12.30 12.30 11.24 9.87 12.30 13.09 13.09 12.11 11.32 13.09 14.91 14.91 13.35 12.12 14.91 3.31 3.31 3.67 4.16 3.31 8026.2 2.8%S&P/TSX COMPOSITE INDEX 1.68 1.68 1.55 1.45 1.68 1.57 1.57 1.48 1.42 1.57 8.40 8.40 7.54 7.00 8.40 8.22 8.22 7.27 6.88 8.22 13.98 13.98 12.32 11.33 13.98 3.14 3.14 3.29 3.49 3.14 14540.6 14.8%S&P/ASX 200 INDEX 1.88 1.88 1.78 1.68 1.88 1.80 1.80 1.70 1.61 1.80 11.09 11.09 9.90 9.04 11.09 9.54 9.54 8.40 7.80 9.54 15.14 15.14 13.48 12.37 15.14 4.39 4.39 4.70 5.07 4.39 5152.0 4.1%HANG SENG INDEX 1.33 1.33 1.23 1.15 1.33 1.73 1.73 1.60 1.49 1.73 7.12 7.12 6.60 6.21 7.12 8.13 8.13 7.39 6.84 8.13 10.80 10.80 9.91 9.02 10.80 3.57 3.57 3.85 4.37 3.57 24942.6 11.8%MSCI EM 1.43 1.43 1.30 1.21 1.43 0.95 0.95 0.88 0.84 0.95 6.85 6.85 6.30 5.89 6.85 7.03 7.03 6.45 6.05 7.03 10.76 10.76 9.67 8.97 10.76 3.08 3.08 3.59 6.74 3.08 1183.8 15.8%INTUITIVE SURGICAL INC 5.48 4.39 3.57 2.95 9.31 7.84 6.79 6.00 5.32 25.53 22.17 18.79 20.64 17.96 15.33 13.25 11.33 32.53 28.27 24.08 20.91 18.69 608.92 22.5%KLA-TENCOR CORPORATION 2.62 2.49 2.19 1.89 2.74 3.00 2.61 2.54 10.23 14.21 10.80 9.41 6.01 8.35 6.38 5.80 11.61 15.95 11.52 10.61 2.68 3.04 3.12 3.02 59.60 14.5%KRAFT FOODS GROUP INC 5.54 5.72 5.30 5.14 1.65 1.62 1.58 1.54 1.47 12.32 19.57 13.83 12.94 12.39 11.32 10.47 9.90 17.83 18.30 16.45 14.92 13.77 3.24 3.93 4.09 4.39 50.32 -2.0%LIBERTY GLOBAL INC-A 11.16 16.44 14.52 1.74 1.34 1.19 1.11 0.96 6.20 6.03 4.57 4.49 8.97 7.54 6.67 6.42 6.89 28.76 37.62 24.31 17.39 12.45 0.00 0.00 0.00 0.00 78.78 10.0%LIBERTY INTERACTIVE CORP-A 1.72 1.69 1.48 1.30 1.18 1.17 1.13 1.07 1.02 0.98 8.75 14.66 18.87 10.61 9.93 9.42 8.80 8.32 22.65 18.74 15.69 13.06 11.68 0.00 0.00 0.00 0.00 24.20 11.5%LIFE TECHNOLOGIES CORP 2.01 2.11 1.92 1.75 2.88 2.78 2.68 2.59 2.55 13.84 11.48 10.72 9.53 9.57 9.42 8.96 8.65 8.89 16.11 14.65 13.43 12.34 11.52 0.00 0.00 0.00 0.00 63.31 -1.1%LINEAR TECHNOLOGY CORP 12.17 9.50 8.10 5.87 6.92 6.85 6.16 5.60 18.51 17.50 15.42 13.85 12.87 13.21 11.51 10.32 19.90 21.20 18.34 16.13 2.59 2.69 2.78 2.89 37.34 -1.5%MATTEL INC 5.04 4.61 4.69 2.32 2.20 2.10 2.04 14.02 16.44 11.91 10.89 11.11 10.25 9.63 9.37 17.28 15.56 14.21 13.35 2.84 3.16 3.56 3.59 43.27 -0.7%MAXIM INTEGRATED PRODUCTS 3.76 3.57 3.24 2.89 3.90 3.82 3.50 3.19 14.34 12.79 11.19 9.73 11.08 10.18 8.93 8.02 21.05 18.01 15.27 13.73 2.74 2.99 3.09 3.16 34.59 7.5%MICROCHIP TECHNOLOGY INC 3.64 3.81 3.69 3.91 5.18 4.48 3.89 3.57 16.24 14.12 12.70 10.89 13.09 14.20 11.79 10.63 19.53 19.96 17.11 14.63 3.79 3.84 3.89 3.96 39.27 7.0%MICRON TECHNOLOGY INC 1.32 1.37 1.25 1.08 1.21 1.17 0.98 0.91 5.98 6.25 3.54 3.01 7.15 5.52 3.74 3.22 13.16 9.41 0.00 0.00 0.00 0.00 11.72 18.1%MICROSOFT CORP 3.37 2.87 2.32 1.89 3.20 2.97 2.75 2.59 2.66 8.40 7.60 6.84 6.41 5.92 5.67 5.16 4.78 4.97 10.49 9.96 9.00 8.22 2.74 3.21 3.42 3.75 32.90 16.5%MONDELEZ INTERNATIONAL INC-A 1.61 1.59 1.49 1.47 1.52 1.46 1.38 1.30 1.23 114.45 15.38 12.40 11.62 12.24 11.62 10.79 10.18 9.22 21.03 19.21 17.07 15.29 13.20 1.71 1.77 1.95 2.33 2.29 30.13 0.1%MONSTER BEVERAGE CORP 9.84 8.67 8.53 7.63 3.90 3.48 3.10 2.75 2.58 28.14 21.80 18.32 15.38 13.31 11.87 10.28 8.75 7.30 25.89 21.84 18.33 15.12 11.49 0.00 0.00 0.00 0.00 58.67 20.1%MYLAN INC 2.77 3.33 2.59 2.00 1.69 1.60 1.49 1.43 1.40 5.75 7.89 6.48 5.57 8.38 8.42 8.01 7.07 7.13 11.24 10.14 9.07 8.43 8.15 0.00 0.00 0.00 32.93 13.5%NETAPP INC 2.95 2.56 2.28 1.95 1.93 1.88 1.73 1.62 1.61 5.92 9.11 8.83 7.87 5.87 6.25 5.55 5.33 14.00 14.63 13.17 11.95 0.00 0.00 0.00 0.00 39.17 17.6%NEWS CORP-CL A 2.72 2.62 2.40 2.16 1.86 2.07 1.98 1.86 1.78 1.70 16.93 12.24 12.58 11.01 10.36 11.96 11.11 9.97 9.11 8.42 21.54 18.03 15.31 12.93 11.23 0.56 0.57 0.57 0.57 32.35 6.9%NUANCE COMMUNICATIONS INC 2.38 2.16 2.00 1.90 3.62 2.92 2.58 2.43 11.83 11.42 10.00 7.43 11.69 8.86 7.96 7.47 11.75 11.07 9.86 9.21 0.00 0.00 26.46 32.4%NVIDIA CORP 1.61 1.50 1.41 1.36 1.80 1.81 1.66 1.54 11.49 9.10 8.59 8.74 4.41 5.02 4.40 3.73 11.61 14.72 12.89 10.98 0.61 2.42 2.52 2.56 14.31 14.5%OREILLY AUTOMOTIVE INC 5.13 5.55 5.15 4.18 1.87 1.73 1.63 1.54 1.44 12.84 13.15 10.86 9.67 10.79 9.81 9.14 8.53 7.93 22.08 18.11 15.98 14.13 12.57 0.00 0.00 0.00 0.00 109.26 5.5%ORACLE CORP 3.57 3.26 2.66 2.25 4.00 3.97 3.76 3.56 3.30 11.87 10.46 9.91 9.10 7.30 7.40 6.76 6.27 13.03 11.70 10.73 9.82 0.76 0.93 0.82 0.93 37.88 20.4%PACCAR INC 3.02 2.79 2.45 1.99 1.10 1.10 1.00 0.99 10.84 10.40 9.35 7.53 8.04 7.13 7.54 16.24 15.79 14.04 13.02 2.81 2.54 2.78 2.25 48.80 -2.7%PAYCHEX INC 7.68 7.41 6.82 6.35 5.67 5.45 5.14 4.81 4.56 17.96 17.70 16.36 15.45 12.90 12.39 11.68 10.79 10.41 23.00 21.86 20.47 18.89 17.33 3.63 3.73 3.83 3.91 32.63 -6.4%PERRIGO CO 5.72 4.83 3.87 3.10 3.44 3.07 2.73 2.59 2.46 21.66 19.60 16.43 12.78 15.24 13.26 11.51 10.80 10.26 23.76 20.69 17.71 16.40 14.74 0.22 0.25 0.26 0.40 123.92 5.4%PRICELINE.COM INC 8.91 6.22 4.67 3.42 6.59 5.30 4.48 3.94 3.61 20.85 17.38 15.00 13.33 15.90 12.52 10.36 8.93 7.81 22.42 17.92 15.08 13.03 11.68 0.00 0.00 0.00 824.32 18.7%QUALCOMM INC 3.46 3.00 2.63 2.34 6.03 4.72 4.24 4.05 3.96 16.64 13.60 12.83 12.51 11.65 9.38 8.57 7.89 18.24 14.72 13.52 12.76 11.09 1.35 1.51 1.70 2.03 75.85 14.3%RANDGOLD RESOURCES LTD-ADR 2.99 2.52 2.03 5.69 4.85 3.63 4.95 13.32 10.05 7.14 6.47 10.43 9.03 5.81 17.93 14.43 10.31 10.83 0.56 0.63 1.43 120.19 42.1%REGENERON PHARMACEUTICALS 12.37 9.40 6.95 11.57 12.20 8.80 7.22 6.08 5.29 31.60 22.52 12.97 34.73 21.66 14.21 13.08 17.20 37.60 33.39 25.00 22.92 18.75 0.00 0.00 0.00 0.00 188.00 10.7%ROSS STORES INC 7.45 6.50 5.60 4.64 4.03 1.36 1.29 1.20 1.12 1.01 12.54 11.35 9.91 9.16 8.62 8.06 7.40 6.80 6.34 16.85 15.44 13.73 12.23 10.56 0.94 1.10 1.21 1.41 2.24 65.95 11.0%SANDISK CORP 1.84 1.69 1.52 1.34 2.65 2.38 2.17 1.91 1.85 23.19 11.22 10.79 10.75 9.31 5.80 5.09 5.26 5.33 26.73 14.61 13.10 11.98 12.28 0.00 0.00 58.88 6.5%SBA COMMUNICATIONS CORP-CL A 15.55 28.28 9.61 7.46 6.96 6.49 6.15 26.67 18.65 16.00 14.51 24.24 18.71 17.01 15.56 14.60 83.51 56.91 0.00 0.00 0.00 0.00 81.76 13.8%SEAGATE TECHNOLOGY 4.33 3.81 3.87 2.88 0.86 0.91 0.94 0.94 4.71 4.26 4.28 4.46 3.42 4.46 4.71 5.47 5.30 6.91 6.64 6.03 2.35 4.01 4.33 4.38 35.51 -1.0%SEARS HOLDINGS CORP 1.11 1.64 1.79 1.98 0.14 0.15 0.15 0.15 17.24 13.79 12.30 12.07 0.00 0.00 0.00 28.82 -43.4%SIGMA-ALDRICH 3.60 3.07 2.73 2.61 3.51 3.40 3.25 3.10 2.99 17.08 16.42 15.16 13.06 11.46 11.02 10.37 9.61 19.91 18.51 17.31 15.87 15.39 1.04 1.14 1.20 1.31 1.28 77.20 0.8%SIRIUS XM RADIO INC 4.17 6.39 15.43 205.67 5.93 5.31 4.84 4.41 4.03 24.68 22.04 19.28 17.14 23.96 19.08 15.61 13.50 12.02 49.76 31.16 23.73 19.04 11.64 1.07 0.00 0.00 0.00 3.60 16.7%STAPLES INC 1.42 1.32 1.24 1.17 1.06 0.36 0.37 0.37 0.37 0.36 6.09 5.87 5.77 5.84 4.74 4.99 4.93 4.78 3.98 9.64 10.03 9.35 8.77 7.39 3.31 3.62 3.82 4.00 4.81 14.06 5.7%STARBUCKS CORP 8.01 7.44 6.60 5.41 3.74 3.20 2.86 2.55 2.26 2.00 22.55 18.31 15.90 13.54 15.93 13.45 11.37 9.73 8.89 32.00 26.33 21.69 18.09 15.79 1.22 1.50 1.78 2.16 63.88 12.1%STERICYCLE INC 5.91 4.82 4.03 3.64 4.74 4.21 3.87 3.45 23.83 21.64 18.85 18.26 16.05 14.41 13.26 31.91 28.31 25.04 21.98 106.90 2.2%SYMANTEC CORP 3.58 3.26 3.01 2.47 2.52 2.46 2.42 2.34 9.56 9.77 9.72 7.74 6.61 6.90 6.41 6.04 15.33 14.35 12.76 11.22 0.00 0.00 1.03 1.43 24.92 1.4%TEXAS INSTRUMENTS INC 3.56 3.56 3.47 3.42 3.00 3.15 2.95 2.83 2.60 13.44 12.28 10.78 10.49 11.42 11.19 9.55 9.12 8.16 21.06 20.29 16.13 14.67 15.43 2.05 2.87 3.07 3.21 34.19 -1.6%VERISK ANALYTICS INC-CLASS A 42.33 18.05 11.28 7.87 7.35 6.51 5.96 5.49 5.07 23.16 20.88 18.86 17.56 18.15 16.07 14.59 13.35 12.40 30.51 26.12 23.23 20.49 61.70 0.5%VERTEX PHARMACEUTICALS INC 11.86 11.09 16.17 17.53 7.85 10.22 11.32 9.17 5.79 47.96 59.51 44.69 1235.00 22.30 0.00 0.00 0.00 0.00 61.88 13.9%VIACOM INC-CLASS B 4.25 4.34 4.05 3.98 4.27 2.19 2.21 2.11 2.03 1.93 13.64 11.74 10.35 9.17 7.39 9.19 9.08 8.57 8.11 7.75 14.70 13.03 11.40 9.99 8.84 1.70 1.86 1.93 2.06 64.75 5.6%VIRGIN MEDIA INC 18.70 2.50 2.14 2.39 2.08 2.01 1.95 1.89 1.83 7.00 6.07 5.64 4.82 3.58 8.64 8.19 7.90 7.55 7.62 33.06 20.67 15.68 12.11 9.27 0.35 0.34 0.33 0.35 0.44 43.96 -8.6%VODAFONE GROUP PLC-SP ADR 1.89 2.05 2.04 2.01 14.71 8.55 8.61 12.33 11.62 11.15 10.93 5.64 5.50 5.38 5.36 29.65 3.5%WESTERN DIGITAL CORP 1.54 1.34 1.15 1.08 0.98 0.78 0.79 0.82 4.25 3.93 3.80 4.80 3.57 3.01 3.20 3.60 6.39 6.11 6.21 6.57 0.00 1.91 2.20 2.59 50.77 4.3%WHOLE FOODS MARKET INC 4.33 4.23 3.77 3.28 2.45 1.38 1.23 1.08 0.94 0.84 20.08 18.63 15.39 12.22 14.26 12.51 10.76 9.11 7.96 34.57 30.23 25.54 21.38 18.39 0.64 2.30 1.02 1.36 100.16 15.3%WYNN RESORTS LTD 158.25 25.63 17.78 11.23 2.45 2.33 2.22 2.04 3.68 11.89 11.25 10.26 9.83 10.93 10.23 9.95 9.07 22.94 20.47 18.52 16.08 7.63 3.21 3.24 3.26 4.01 138.92 11.5%XILINX INC 3.90 3.59 3.28 3.01 4.51 4.61 4.33 3.92 15.12 17.24 16.39 14.44 13.22 13.99 12.14 10.73 20.04 21.58 19.13 16.74 1.98 2.30 2.49 2.54 38.84 1.7%YAHOO! INC 1.80 1.73 1.55 1.39 1.25 5.83 5.64 5.45 5.28 5.13 9.26 21.67 22.04 19.44 17.09 13.09 12.10 11.53 11.40 10.77 19.31 20.38 18.38 16.75 16.12 0.00 0.00 0.00 0.00 22.96 -2.6% Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

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