This document provides financial data and analysis for 50 large capitalization companies across various global indices. Key metrics included are market capitalization, revenue, earnings before interest and taxes (EBITDA), earnings per share, price-earnings ratios, revenue and EBITDA growth rates, and credit ratings from Standard & Poor's and Moody's. The document appears to be aimed at providing a high-level overview of valuation measures and financial performance for fundamental analysis and investment recommendations.

1. This material does not constitute investment advice and should not be
viewed as a current or past recommendation or a solicitation of an
offer to buy or sell any securities or to adopt any investment strategy.
Fundamental Analysis &
Analyst Recommendations
MIST Top 50 Capitalizations
December 2012
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. Valuation Measures I/II
Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth
Market Daily Total Preferred Minority Cash and Enterprise Est. Tot. Est. P/E Est. Est. Est. Est. S&P LT Moody's LT
Capitalization (in Volume Common Total Debt Stock 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 Moody's LT Credit
Currency mio USD) (M) Shares (M) (USD) (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 Date
S&P 500 INDEX USD 13000330 1831.646 1091 1091 201 210 210 98.25 103.80 103.80 14.35 14.35 13.58 13.58 19.01
Euro Stoxx 50 Pr EUR 2443115 5496.163 4657 4657 782 788 788 183.12 302.24 302.24 23.69 15.58 14.35 14.35 21.24
NIKKEI 225 JPY 2172602 170.3716 215 215 22 23 23 4.67 6.48 6.48 0.30 0.23 0.22 0.22 0.13
FTSE 100 INDEX GBP 2582802 11396.65 9523 9523 1599 1642 1642 625.19 815.77 815.77 24.06 21.52 18.44 18.44 26.78
SWISS MARKET INDEX CHF 919710 10500.84 3949 3949 841 803 803 365.97 524.12 524.12 21.64 19.14 15.11 15.11 22.57
S&P/TSX COMPOSITE INDEX CAD 1649096 16739.51 7815 7815 1921 1956 1956 809.65 856.96 856.96 15.25 15.25 14.41 14.41 25.36
S&P/ASX 200 INDEX AUD 1262013 6150.111 2915 2915 653 694 694 269.76 343.49 343.49 18.13 15.26 14.24 14.24 24.17
HANG SENG INDEX HKD 1641502 3113.576 1449 1449 346 360 360 252.27 246.40 246.40 1.45 1.54 1.48 1.48 3.09
MSCI EM USD 7260477 1369.951 978 978 183 180 180 81.32 86.72 86.72 12.19 12.67 11.43 11.43 18.82
AMERICA MOVIL-ADR SERIES L USD 89697 7080 #VALUE! 381 0 10 59 #VALUE! 665302 759166 767064 802758 248773 262938 68163 68163 - - 25.79 28.04 - - 11.86 10.91 9.45 21.44 2.21 23.67 34.64 A- 22.03.2010 A2 26.03.2010
SAMSUNG ELECTRONICS CO LTD KRW 192118 262 130 4 0 0 13 183.24 111440 126553 #VALUE! #VALUE! 17514 22749 - - 61.54 95.00 #VALUE! #VALUE! 0.01 0.01 #VALUE! #VALUE! 0.01 0.02 -0.01 0.01 0.02 A 25.01.2006 A1 14.07.2005
TURKIYE GARANTI BANKASI TRY 19498 27007 4199 22 0 0 14 #VALUE! 8643 9868 4677 5152 - - - - - 0.46 0.43 0.47 5.64 - 6.08 5.51 7.19 6.76 - - - BB 22.02.2010 Baa2 03.07.2012
FOMENTO ECONOMICO MEX-SP ADR USD 31415 545 #VALUE! 30 0 58 28 #VALUE! 203044 229839 238288 269562 33445 35037 11802 11802 - - 46.45 55.04 - - 27.12 22.89 19.65 9.59 19.31 6.27 15.24 - - - -
AKBANK T.A.S. TRY 18793 10778 4000 23 0 0 10 #VALUE! 6698 7640 3688 4351 - - - - - 0.35 0.37 0.43 7.57 - 7.07 6.05 2.06 4.37 - - - NR 15.07.2008 Baa2 03.07.2012
GRUPO TELEVISA SA-SPON ADR USD 13464 1352 #VALUE! 57 0 7 22 #VALUE! 62582 67791 69110 74995 24252 26813 7928 7928 - - 12.73 15.07 - - 23.98 20.26 8.17 10.27 9.43 8.10 39.55 BBB+ 02.10.2007 Baa1 02.05.2007
NIGERIAN BREWERIES PLC NGN 6726 877 7563 0 0 0 0 7.06 1462 1698 1761 2046 413 - - - 0.03 0.03 0.03 0.04 0.17 0.17 0.17 0.14 0.15 - 0.16 0.15 - - - - -
ASTRA INTERNATIONAL TBK PT IDR 30886 75969 40484 5 0 2 1 36.99 16874 19324 19084 21710 2474 2716 - - 0.05 0.05 0.05 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 BBB- 11.05.2011 - -
HACI OMER SABANCI HOLDING TRY 11246 1645 2040 14 0 6 12 26.33 12534 6594 13993 15417 2351 2150 2569 2569 - 0.42 0.48 0.57 6.81 - 6.07 5.09 8.21 -1.51 -0.65 5.36 18.46 - - - -
TELEKOMUNIKASI INDONESIA PER IDR 19356 12595 19386 2 0 1 1 21.29 7396 7792 7875 8392 3795 4119 1050 1050 0.06 0.07 0.07 0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 NR 15.10.2008 - -
GRUPO FINANCIERO BANORTE-O MXN 13449 14854 2326 23 0 0 4 32.24 6461 7375 3575 4068 2923 3510 - - - 0.34 0.37 0.45 1.29 - 1.22 1.00 4.22 1.22 0.38 0.34 3.67 - - - -
BANK CENTRAL ASIA TBK PT IDR 23032 9410 24365 1 0 0 11 #VALUE! 3299 3549 2895 3401 - - - - - 0.05 0.05 0.06 0.00 - 0.00 0.00 0.00 0.00 - - - NR 11.07.2006 - -
WALMART DE MEXICO-SER V MXN 55860 17277 17644 1 0 0 2 55.45 29 K 32 K 33 K 37 K 2888 3098 1125 1125 - 0.10 0.10 0.12 2.41 - 2.32 2.02 1.04 1.03 0.97 1.08 0.75 - - - -
BANK MANDIRI PERSERO TBK PT IDR 21071 7745 23333 3 0 0 13 #VALUE! 5344 5776 4252 4941 - - - - 0.05 0.06 0.06 0.07 0.00 0.00 0.00 0.00 0.00 0.00 - - - BB+ 21.04.2011 WR 20.12.2004
CEMEX SAB-SPONS ADR PART CER USD 9869 16720 #VALUE! 249 0 17 16 #VALUE! 189887 199480 196232 208754 29600 31841 7982 7982 - - -5.80 -1.15 - - #VALUE! #VALUE! 6.89 -5.69 -0.82 -9.39 15.96 B- 10.10.2012 WR 19.10.2006
KIA MOTORS CORPORATION KRW 23182 3266 404 3 0 0 2 22.88 25589 25589 27753 29141 2396 2396 - - 4.23 4.18 9.57 10.10 0.01 0.01 0.01 0.01 0.02 0.01 0.01 0.03 0.01 BBB+ 20.03.2012 WR 17.01.2008
KB FINANCIAL GROUP INC KRW 12598 1093 386 0 0 #VALUE! #VALUE! 13.10 25 25 #VALUE! #VALUE! -18 -18 - - - -0.16 #VALUE! #VALUE! - - #VALUE! #VALUE! -0.07 - - - -0.07 - - - -
SEMEN GRESIK (PERSERO) PT IDR 9020 7674 5932 0 0 0 0 8.99 1700 1914 1986 2318 505 626 - - - 0.08 0.08 0.10 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 NR 08.12.2009 - -
GRUPO MEXICO SAB DE CV-SER B MXN 25380 5842 7785 0 0 0 0 2.20 808 782 794 826 402 370 102 102 0.02 0.02 0.02 0.02 0.86 - 0.83 0.83 2.02 0.74 2.12 0.60 3.65 - - - -
GUARANTY TRUST BANK NGN 3651 11734 29431 1 0 0 3 #VALUE! 1182 1182 1154 1293 - - - - - 0.01 0.02 0.02 0.07 - 0.05 0.04 0.13 - - - - BB- 09.11.2012 - -
COMMERCIAL INTERNATIONAL BAN EGP 3179 1769 593 1 0 0 3 #VALUE! 1129 1434 817 909 - - - - - 0.60 0.55 0.67 1.45 - 1.58 1.30 1.45 3.45 - - - B 24.08.2012 - -
ZENITH BANK PLC NGN 3315 15710 31396 0 0 0 3 #VALUE! 1550 1550 1435 1625 - - - - - 0.01 0.02 0.02 0.08 - 0.04 0.04 0.19 - - - - BB- 09.11.2012 - -
LG CHEM LTD KRW 19194 309 66 1 0 0 1 19.70 18273 18800 #VALUE! #VALUE! 2855 2300 - - 26.01 18.89 21.75 27.66 0.01 0.01 0.01 0.01 0.02 0.01 0.00 0.03 0.01 A- 24.11.2010 - -
HYUNDAI MOTOR CO KRW 46834 765 209 4 0 0 9 38.85 39455 39455 41724 42711 5758 5758 - - - 16.10 33.85 34.30 0.01 - 0.01 0.01 0.02 0.01 0.03 0.02 0.01 BBB+ 20.03.2012 NR 11.08.2010
ALLIANCE GLOBAL GROUP INC PHP 4101 10641 10107 1 0 1 1 5.36 1284 2101 1970 2218 236 - - - - 0.03 0.03 0.03 0.38 - 0.37 0.31 1.03 0.78 0.58 1.41 - - - - -
ORASCOM CONSTRUCTION INDS EGP 7404 198 206 4 0 0 1 10.25 5353 5427 5835 6677 1345 - 336 336 3.21 2.26 3.49 4.70 2.57 - 1.66 1.23 3.07 19.44 5.87 2.14 - - - - -
INDOCEMENT TUNGGAL PRAKARSA IDR 8769 3021 3681 0 0 0 1 7.90 1442 1711 1732 1969 526 621 202 202 - 0.12 0.13 0.15 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - - - -
TURK TELEKOMUNIKASYON AS TRY 12998 4309 3500 3 0 0 1 16.04 6679 6935 7068 7415 2649 2696 - - - 0.42 0.43 0.42 4.94 - 4.84 4.90 5.61 - 4.68 3.88 21.74 - - - -
TURKIYE IS BANKASI-C TRY 14487 25583 4500 24 0 1 11 #VALUE! 10375 11753 4869 5435 - - - - - 0.40 0.37 0.38 4.51 - 4.90 4.70 6.10 5.40 - - - BB 22.02.2010 Baa2 03.07.2012
EMLAK KONUT GAYRIMENKUL YATI TRY 3887 3956 2500 1 0 0 1 3.90 401 544 645 954 99 169 125 125 - 0.09 0.09 0.15 9.78 - 9.37 5.67 -29.17 - -40.80 - 17.37 - - - -
ALFA S.A.B.-A MXN 11046 7452 5199 5 0 0 1 14.76 14106 15472 15410 16147 1634 1895 473 473 0.08 0.13 0.13 0.13 1.30 1.30 1.24 1.23 2.62 0.98 2.52 1.53 0.95 - - - -
MEXICHEM SAB DE CV-* MXN 10317 2960 1844 2 0 0 1 12.35 3786 4722 5349 6238 793 993 296 296 0.12 0.20 0.26 0.28 1.89 - 1.48 1.33 2.66 1.80 2.04 2.57 1.62 BBB- 22.07.2011 Ba1 19.10.2009
KOZA ANADOLU METAL MADENCILI TRY 1211 14411 311 0 0 0 0 1.02 498 669 690 743 329 459 248 248 - 0.38 0.26 0.29 4.62 - 6.83 6.03 36.04 24.13 47.78 22.47 38.73 - - - -
BANK RAKYAT INDONESIA PERSER IDR 18437 23703 24669 2 0 0 14 #VALUE! 5599 5734 4553 5226 - - - - 0.06 0.08 0.07 0.08 0.00 0.00 0.00 0.00 0.00 0.00 - - - BB+ 02.05.2012 - -
NESTLE NIGERIA PLC NGN 3227 87 793 0 0 0 0 3.40 622 622 766 920 157 157 188 188 0.13 0.13 0.17 0.21 0.19 0.19 0.16 0.12 0.14 0.13 0.11 0.14 0.16 - - - -
T M G HOLDING EGP 1310 4620 2064 1 0 0 0 2.07 834 644 811 1088 141 133 45 45 0.05 0.04 0.05 0.08 2.53 2.66 2.04 1.37 -0.74 - -4.75 - 3.39 - - - -
GUDANG GARAM TBK PT IDR 10515 906 1924 1 0 0 0 11.36 4348 4870 4967 5549 801 723 - - - 0.22 0.24 0.30 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - - - -
TAV HAVALIMANLARI HOLDING AS TRY 1780 169 363 2 0 0 0 3.36 1140 1290 1352 1514 197 239 84 84 - 0.43 0.31 0.52 6.40 - 8.97 5.32 19.98 15.74 -19.37 23.22 10.38 - - - -
TURKCELL ILETISIM HIZMET AS TRY 13228 1229 2200 2 0 0 4 11.26 5241 5674 5738 6202 1629 1727 - - - 0.50 0.51 0.53 6.76 - 6.56 6.29 2.28 2.50 1.20 1.25 17.03 BB+ 19.11.2008 - -
METROPOLITAN BANK & TRUST PHP 5162 1833 2111 3 0 0 6 #VALUE! 1561 1614 1352 1479 - - - - 0.11 0.14 0.15 0.17 0.43 - 0.40 0.35 0.14 0.10 - - - NR 30.12.2011 - -
TUPRAS-TURKIYE PETROL RAFINE TRY 6527 426 250 1 0 0 1 7.06 23180 26034 25813 26292 1207 946 280 280 - 2.91 2.59 2.58 5.02 - 5.64 5.64 32.66 12.40 32.02 9.07 2.03 - - (P)Ba1 18.10.2012
PETRON CORP PHP 2434 6228 9375 2 #VALUE! 0 1 5.26 6711 9293 7549 8033 453 315 458 458 0.02 0.00 0.02 0.02 3.05 - 0.28 0.27 0.48 0.60 0.38 0.20 0.08 - - - -
SAMSUNG C&T CORP KRW 8689 673 147 3 0 0 1 11.30 14479 14479 #VALUE! #VALUE! 337 337 - - 0.57 1.86 3.83 3.72 0.03 0.09 0.01 0.01 0.02 0.01 0.00 0.00 0.00 - - - -
OIL & GAS DEVELOPMENT CO LTD PKR 8332 249 4301 0 0 0 0 8.28 2049 1904 2435 2613 1437 1504 1982 1982 0.23 0.24 0.26 0.29 0.08 0.08 0.08 0.07 0.28 0.17 0.29 0.17 0.82 - - - -
ORASCOM CONSTRUCTION-GDR USD 7438 42 #VALUE! 22 0 1 6 #VALUE! 32722 33172 34039 39831 8223 - - - - - 14.95 26.25 - - 14.55 8.29 18.76 118.86 35.89 13.11 - - - - -
KIMBERLY-CLARK DE MEXICO-A MXN 7687 1848 3155 1 0 0 0 8.27 2063 2213 2256 2417 550 592 163 163 - 0.09 0.10 0.11 2.04 - 1.94 1.71 0.16 0.44 -0.41 0.08 2.06 A- 07.02.2002 - -
BIM BIRLESIK MAGAZALAR AS TRY 6941 98 152 0 0 0 0 6.77 4580 5336 5611 6831 237 263 55 55 - 1.20 1.28 1.58 21.34 - 20.03 16.23 13.74 14.72 10.69 18.04 2.76 - - - -
MCB BANK LTD PKR 1809 361 920 1 0 0 1 #VALUE! 782 814 519 528 - - - - 0.22 0.22 0.24 0.24 0.09 0.09 0.08 0.08 0.25 0.17 - - - - - - -
INDOFOOD SUKSES MAKMUR TBK P IDR 5286 6839 8780 1 0 1 1 6.37 4705 5067 5133 5626 763 784 - - 0.04 0.04 0.04 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 NR 18.07.2006 - -
BANK NEGARA INDONESIA PERSER IDR 6920 14213 18649 2 0 0 8 #VALUE! 2937 3048 2344 2618 - - - - - 0.04 0.04 0.04 0.00 - 0.00 0.00 0.00 0.00 - - - BB 13.12.2011 Baa3 17.04.2012
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

3. 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
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 %D to Spot
S&P 500 INDEX 2.08 2.08 1.90 1.74 2.08 1.29 1.29 1.24 1.19 1.29 9.35 9.35 8.76 8.51 9.35 8.71 8.71 8.14 7.55 8.71 13.58 13.58 12.28 10.99 13.58 2.25 2.25 2.44 2.63 2.25 1604.5 13.8%
Euro Stoxx 50 Pr 1.15 1.15 1.09 1.03 1.15 0.72 0.72 0.70 0.68 0.72 5.27 5.27 5.04 4.66 5.27 6.98 6.98 6.71 6.34 6.98 11.05 11.05 10.17 9.21 11.05 4.15 4.15 4.54 4.88 4.15 2743.4 6.7%
NIKKEI 225 1.15 1.15 1.08 1.01 1.15 0.53 0.53 0.50 0.50 0.53 6.92 6.92 6.20 5.87 6.92 7.50 7.50 6.78 6.38 7.50 17.66 17.66 14.55 11.58 17.66 2.18 2.18 2.19 2.51 2.18 9843.5 4.7%
FTSE 100 INDEX 1.63 1.63 1.52 1.41 1.63 0.99 0.99 0.97 0.94 0.99 7.68 7.68 7.04 5.66 7.68 6.94 6.94 6.48 6.07 6.94 11.51 11.51 10.56 9.63 11.51 3.99 3.99 4.25 4.54 3.99 6374.7 8.8%
SWISS MARKET INDEX 2.20 2.20 2.06 1.91 2.20 1.86 1.86 1.76 1.67 1.86 12.16 12.16 10.59 9.36 12.16 13.08 13.08 12.08 11.24 13.08 14.01 14.01 12.74 11.55 14.01 3.44 3.44 3.74 4.12 3.44 7313.0 7.4%
S&P/TSX COMPOSITE INDEX 1.67 1.67 1.54 1.44 1.67 1.57 1.57 1.46 1.36 1.57 8.59 8.59 7.62 7.04 8.59 8.56 8.56 7.39 6.79 8.56 14.29 14.29 12.46 11.24 14.29 3.07 3.07 3.23 3.30 3.07 14208.5 17.0%
S&P/ASX 200 INDEX 1.69 1.69 1.60 1.51 1.69 1.61 1.61 1.50 1.42 1.61 9.94 9.94 9.02 6.73 9.94 8.86 8.86 7.83 7.20 8.86 13.62 13.62 12.16 11.11 13.62 4.81 4.81 5.17 5.57 4.81 4746.5 6.0%
HANG SENG INDEX 1.42 1.42 1.30 1.20 1.42 1.95 1.95 1.81 1.67 1.95 7.33 7.33 6.79 6.45 7.33 8.64 8.64 7.84 7.20 8.64 11.48 11.48 10.55 9.61 11.48 3.37 3.37 3.62 3.94 3.37 23361.1 6.6%
MSCI EM 1.51 1.51 1.37 1.24 1.51 1.01 1.01 0.94 0.88 1.01 7.16 7.16 6.47 5.16 7.16 7.60 7.60 6.79 6.22 7.60 11.43 11.43 10.00 9.03 11.43 2.88 2.88 3.06 3.42 2.88 1137.1 14.7%
AMERICA MOVIL-ADR SERIES L 3.35 3.56 2.85 2.38 1.78 1.51 1.45 1.39 1.34 6.43 5.61 5.07 4.96 12.80 11.86 10.91 10.57 12.19 1.24 1.29 1.93 2.35 3.03 29.04 22.9%
SAMSUNG ELECTRONICS CO LTD 2.30 1.38 12.80 8.54 16.97 0.61 0.54 0.61 0.65 0.95 1790857.13 26.7%
TURKIYE GARANTI BANKASI 1.96 1.69 1.55 1.33 1.17 4.42 4.18 3.79 3.34 2.94 7.09 6.66 5.99 4.97 11.50 10.89 9.85 8.61 7.92 1.65 1.86 2.22 2.73 1.32 8.81 6.2%
FOMENTO ECONOMICO MEX-SP ADR 3.75 3.51 3.23 3.16 2.28 1.89 1.67 1.50 1.43 15.57 17.10 16.60 10.93 28.03 27.12 22.89 20.23 1.18 1.46 1.33 1.75 102.07 4.9%
AKBANK T.A.S. 1.83 1.65 1.46 1.32 1.10 5.24 5.10 4.32 3.69 3.47 8.70 7.50 6.77 5.38 13.08 12.63 10.82 9.28 6.72 1.70 1.51 2.29 3.10 8.46 0.7%
GRUPO TELEVISA SA-SPON ADR 4.51 2.96 2.61 2.36 2.90 2.52 2.33 2.15 2.02 20.17 37.20 33.48 58.87 64.16 23.31 23.98 20.26 19.03 16.64 0.95 0.35 0.56 0.72 0.72 25.98 10.2%
NIGERIAN BREWERIES PLC 18.01 12.24 10.56 9.15 9.06 4.68 3.82 3.29 2.84 2.73 25.00 29.79 15.39 12.73 17.59 14.59 12.45 10.55 9.67 29.62 26.36 21.29 17.83 18.04 2.06 2.69 3.49 4.54 4.76 113.75 -18.8%
ASTRA INTERNATIONAL TBK PT 4.95 4.20 3.57 3.06 1.90 1.62 1.42 1.24 14.54 12.75 11.14 9.38 15.43 13.74 11.71 10.01 17.10 15.64 13.59 11.83 2.48 2.87 3.21 3.74 8555.00 16.4%
HACI OMER SABANCI HOLDING 1.29 1.18 1.07 0.91 0.90 0.80 0.73 0.65 8.35 5.31 5.44 4.36 10.11 10.25 8.90 7.49 9.83 10.85 9.09 7.91 1.64 1.08 1.44 1.95 9.47 2.7%
TELEKOMUNIKASI INDONESIA PER 3.69 3.34 3.02 2.76 2.06 2.62 2.46 2.31 2.20 2.15 6.48 5.83 5.58 5.26 4.87 5.54 5.18 4.89 4.66 4.93 15.66 14.02 12.79 11.94 13.36 3.44 4.40 5.05 5.54 4.86 10605.62 14.7%
GRUPO FINANCIERO BANORTE-O 2.54 2.16 1.91 1.65 4.24 3.76 3.31 2.88 9.46 15.97 12.26 10.03 34.99 25.35 18.64 20.05 15.81 12.99 10.58 8.71 0.86 0.93 1.30 1.69 2.27 79.61 6.3%
BANK CENTRAL ASIA TBK PT 5.39 4.41 3.68 3.07 9.34 7.96 6.77 5.84 33.73 30.44 24.48 28.50 21.74 19.09 16.23 13.82 1.53 1.49 1.69 1.96 9230.49 2.6%
WALMART DE MEXICO-SER V 5.51 5.18 4.64 4.09 1.71 1.53 1.36 1.26 25.51 25.07 19.50 16.37 15.82 18.93 17.18 14.97 12.97 11.95 33.45 30.12 26.11 22.24 20.00 1.33 1.42 1.63 1.54 40.97 0.4%
BANK MANDIRI PERSERO TBK PT 3.32 2.76 2.37 2.01 6.02 4.96 4.26 3.66 10.50 13.79 11.76 9.92 16.45 14.14 12.13 10.26 1.86 1.63 1.89 2.26 9634.23 10.7%
CEMEX SAB-SPONS ADR PART CER 0.64 0.79 0.94 1.02 0.75 0.66 0.65 0.61 0.57 0.53 5.66 8.74 9.20 5.48 3.64 34.05 15.55 0.00 0.00 0.00 0.00 9.83 8.7%
KIA MOTORS CORPORATION 1.94 1.46 1.15 0.93 0.94 0.84 0.80 0.76 8.09 8.88 8.58 8.26 8.25 7.32 5.98 5.66 5.36 0.96 1.05 1.13 1.23 1.25 85248.48 37.5%
KB FINANCIAL GROUP INC 0.57 5.09 4.07 2.83 3.48 48524.14 37.3%
SEMEN GRESIK (PERSERO) PT 6.17 5.07 4.24 3.59 2.83 5.37 4.54 3.89 3.48 3.16 19.79 16.73 13.00 11.37 15.92 13.14 10.83 9.72 9.22 22.42 18.64 15.62 13.94 12.61 2.11 2.26 2.71 3.29 1.51 15977.27 9.1%
GRUPO MEXICO SAB DE CV-SER B 3.37 3.41 2.87 2.55 2.14 2.32 2.47 2.37 2.20 2.26 7.75 6.88 7.48 7.26 7.71 5.16 5.71 5.43 5.05 5.51 10.16 10.69 10.73 10.00 12.12 5.27 4.97 3.96 4.72 2.70 49.66 17.6%
GUARANTY TRUST BANK 2.46 2.05 1.78 1.57 1.53 3.77 3.16 2.82 2.48 37.56 47.63 15.02 11.30 7.44 6.65 5.72 5.26 5.42 7.34 8.26 9.97 12.34 22.34 14.4%
COMMERCIAL INTERNATIONAL BAN 2.15 1.93 1.66 1.45 1.11 4.95 3.89 3.50 3.09 2.66 13.27 9.66 7.93 6.83 5.97 2.46 3.64 4.45 4.95 4.53 38.43 18.1%
ZENITH BANK PLC 1.35 1.24 1.13 1.04 0.93 2.44 2.31 2.04 1.76 1.76 9.85 6.91 6.12 5.29 5.13 5.78 8.09 9.09 10.88 11.88 18.78 13.0%
LG CHEM LTD 2.14 0.95 9.04 9.54 8.09 5.63 9.67 13.32 10.47 9.69 1.36 1.28 1.32 1.38 1.27 382966.66 22.0%
HYUNDAI MOTOR CO 1.76 1.54 1.26 1.05 1.26 1.12 1.10 1.02 9.34 6.68 6.06 6.09 5.70 8.10 6.28 6.20 5.90 0.74 0.80 0.83 0.87 0.84 299675.75 30.0%
ALLIANCE GLOBAL GROUP INC 2.13 2.08 1.86 1.65 1.41 3.29 2.08 1.85 1.57 1.17 27.53 11.07 10.22 10.94 6.37 17.47 11.10 9.94 8.57 6.88 18.23 15.00 12.82 10.91 9.01 1.42 2.14 2.32 2.72 3.19 15.82 -3.0%
ORASCOM CONSTRUCTION INDS 2.17 1.94 1.64 1.35 1.39 1.27 1.11 1.04 1.11 10.95 5.73 5.01 4.82 7.39 7.41 5.54 5.51 5.46 10.02 10.15 7.54 7.51 5.88 5.76 5.87 6.45 6.09 333.60 54.0%
INDOCEMENT TUNGGAL PRAKARSA 5.35 4.44 3.71 3.13 2.67 6.32 5.06 4.45 3.99 3.80 21.46 17.37 14.28 12.28 14.68 12.13 10.38 9.20 9.21 23.47 18.87 16.19 14.34 14.09 1.24 1.53 1.94 2.21 0.97 24234.09 5.6%
TURK TELEKOMUNIKASYON AS 3.73 3.52 3.45 3.48 1.94 1.84 1.75 1.68 1.57 5.72 5.57 5.28 4.96 5.65 5.58 5.36 5.15 4.76 10.85 8.65 8.76 8.59 6.92 9.02 9.86 10.66 10.75 11.90 7.89 18.9%
TURKIYE IS BANKASI-C 1.42 1.24 1.11 0.99 0.93 3.51 2.98 2.67 2.41 2.18 5.71 4.07 4.04 3.42 10.85 8.76 8.40 7.60 7.97 1.95 2.28 2.86 3.21 6.15 7.1%
EMLAK KONUT GAYRIMENKUL YATI 2.05 1.52 1.45 1.21 9.97 6.03 4.07 3.40 3.41 39.71 13.37 10.69 7.07 33.12 17.27 11.07 9.55 30.89 16.75 10.15 10.61 6.32 1.80 2.34 3.31 3.27 3.13 12.5%
ALFA S.A.B.-A 3.60 2.74 2.35 2.28 0.80 0.72 0.68 0.64 13.76 8.03 10.97 9.57 9.04 7.84 7.50 7.15 6.76 20.87 16.11 15.96 14.33 0.87 1.04 1.07 1.43 25.13 -9.6%
MEXICHEM SAB DE CV-* 4.86 4.38 3.60 3.14 2.80 1.93 1.65 1.57 1.40 14.53 14.38 11.47 11.05 15.29 10.93 9.54 9.25 8.65 30.24 19.22 17.24 15.79 15.52 0.46 1.68 1.02 0.91 71.19 11.8%
KOZA ANADOLU METAL MADENCILI 0.91 1.34 1.12 1.00 0.93 2.41 1.75 1.63 1.89 1.60 7.86 2.66 2.36 3.07 3.05 3.07 2.49 2.32 2.58 2.07 7.54 12.21 10.77 9.15 9.46 5.68 1.9%
BANK RAKYAT INDONESIA PERSER 3.72 2.80 2.27 1.86 4.31 4.05 3.53 3.05 7.67 21.68 19.85 17.33 13.20 10.44 9.37 8.09 1.56 2.01 2.19 2.50 8428.24 17.1%
NESTLE NIGERIA PLC 28.14 17.07 13.36 9.26 8.02 5.18 4.21 3.51 2.97 2.59 20.97 17.35 13.74 9.85 25.04 18.11 14.57 12.11 9.79 40.20 24.59 19.49 15.37 10.91 1.89 2.48 3.33 4.03 6.41 596.51 -6.9%
T M G HOLDING 0.32 0.31 0.30 0.29 1.39 1.61 1.20 1.13 1.70 8.17 3.33 3.53 10.55 12.31 8.32 7.66 7.72 10.08 12.48 8.36 7.53 0.00 0.00 0.00 2.58 5.80 49.6%
GUDANG GARAM TBK PT 4.14 3.71 3.26 2.89 2.52 2.41 2.12 1.90 1.72 1.58 36.33 27.00 20.97 15.48 15.73 13.82 15.52 12.50 11.27 9.52 20.03 23.08 17.95 16.21 13.22 1.90 1.90 2.03 2.55 2.91 55357.69 5.1%
TAV HAVALIMANLARI HOLDING AS 2.44 2.34 2.05 1.67 1.52 1.32 1.18 1.05 0.95 9.68 6.44 5.80 5.41 9.83 8.64 7.50 6.26 22.64 16.04 9.51 9.67 1.16 3.70 4.99 6.14 11.52 31.5%
TURKCELL ILETISIM HIZMET AS 2.10 1.96 1.95 1.86 2.54 2.31 2.13 1.98 1.81 9.41 7.71 7.06 6.68 6.89 6.48 5.93 5.33 4.68 12.72 11.72 11.24 10.62 7.96 3.68 11.05 5.72 6.14 10.98 12.13 12.8%
METROPOLITAN BANK & TRUST 2.06 1.84 1.66 1.48 4.29 3.82 3.49 3.21 13.29 17.18 15.26 13.47 19.83 16.38 14.14 12.42 1.01 1.09 1.22 1.36 104.73 4.9%
TUPRAS-TURKIYE PETROL RAFINE 2.69 2.54 2.38 2.21 0.28 0.25 0.25 0.25 0.23 78.85 6.96 8.05 8.25 5.97 7.83 7.21 7.45 4.31 9.76 10.08 10.08 10.44 5.90 7.62 7.85 7.77 7.34 13.73 47.88 2.8%
PETRON CORP 1.75 1.55 1.37 1.34 0.35 0.32 0.30 0.28 7.74 7.85 7.63 7.11 10.11 11.48 10.11 10.35 11.16 11.34 10.98 11.58 1.04 0.71 0.90 0.90 12.40 17.0%
SAMSUNG C&T CORP 1.25 0.67 19.43 27.25 18.90 14.51 14.96 12.03 0.88 0.88 0.91 0.94 0.95 81656.52 35.4%
OIL & GAS DEVELOPMENT CO LTD 3.04 4.07 3.42 3.19 19.86 11.28 8.29 5.42 4.18 3.80 8.62 7.52 6.77 6.00 3.01 4.31 5.98 8.55 193.85 3.6%
ORASCOM CONSTRUCTION-GDR 2.33 2.33 2.04 1.81 1.37 1.34 1.14 1.12 9.85 14.55 8.29 8.05 5.83 5.61 6.03 6.23 48.00 34.8%
KIMBERLY-CLARK DE MEXICO-A 15.67 13.27 13.73 13.46 3.69 3.41 3.18 2.97 23.66 19.79 17.63 15.48 13.52 13.39 12.35 11.36 10.46 25.87 25.16 22.09 19.73 3.49 3.70 4.03 4.36 5.25 32.93 1.6%
BIM BIRLESIK MAGAZALAR AS 20.17 16.41 13.37 11.07 9.66 1.53 1.24 1.02 0.85 0.72 31.54 25.48 21.02 17.85 15.40 28.52 23.85 19.37 16.19 14.09 41.84 35.81 29.02 24.46 22.71 1.61 1.86 2.31 2.79 2.78 81.36 -0.5%
MCB BANK LTD 1.92 1.73 1.61 1.48 3.50 3.48 3.43 3.02 8.29 8.21 8.16 7.29 5.86 7.06 7.37 7.78 194.88 2.6%
INDOFOOD SUKSES MAKMUR TBK P 2.84 2.46 2.20 1.99 1.75 1.13 1.03 0.94 0.88 0.81 13.14 10.95 9.26 7.59 8.92 7.35 7.07 6.41 6.03 5.10 15.86 14.91 13.16 12.13 11.63 2.24 2.55 2.77 3.21 3.99 6246.67 7.7%
BANK NEGARA INDONESIA PERSER 1.79 1.56 1.38 1.20 3.36 2.95 2.64 2.38 6.84 9.84 8.32 7.56 12.20 10.13 8.71 7.57 2.31 2.23 2.56 2.90 4572.35 27.9%
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

4. 29.11.2012
America Movil SAB de CV
America Movil SAB de C.V. provides wireless communications in 18 countries Price/Volume
across Latin America, the Caribbean and the U.S. The company also offers
30 35.0 M
fixed-line phone, Internet and pay-TV services in most parts of the region.
25 30.0 M
25.0 M
20
20.0 M
15
Valuation Analysis 15.0 M
Latest Fiscal Year: 12/2011 10
10.0 M
LTM as of: 09/yy 5 5.0 M
52-Week High (07.05.2012) 28.47
0 .0 M
52-Week Low (19.12.2011) 21.60 n-11 d-11 j-12 f-12 m-12 a-12 m-12 j-12 j-12 a-12 s-12 o-12
Daily Volume 7'080'190.00
Current Price (11/dd/yy) 23.62 Market Data
52-Week High % Change -17.04% Dividend Yield -
52-Week Low % Change 9.35% Beta 1.11
% 52 Week Price Range High/Low 29.40% Equity Float -
Shares Out 31.10.2012 2'594.1 Short Int 13.36
Market Capitalization 89'696.61 1 Yr Total Return 2.28%
Total Debt 380'618.80 YTD Return 5.76%
Preferred Stock 0.0 Adjusted BETA 1.111
Minority Interest 9'999.5 Analyst Recs 20
Cash and Equivalents 59'124.00 Consensus Rating 3.800
Enterprise Value - Average Daily Trading Volume
Relative Stock Price Performance Average Volume 5 Day 8'077'872
AMX US EQUITY YTD Change - Average Volume 30 Day 7'865'692
AMX US EQUITY YTD % CHANGE - Average Volume 3 Month 6'374'972
Fiscal Year Ended LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
Total Revenue 311'579.8 345'654.9 561'254.6 607'855.7 665'301.5 693'228.9 759'166.1 767'064.0 802'758.5 198'372.6 195'624.1
TEV/Revenue 3.86x 2.29x 2.28x 2.73x 2.33x 8.97x 8.46x 2.00x 1.85x 7.73x 7.77x
EBITDA 126'012.6 137'313.5 228'715.8 243'392.7 248'772.5 188'731.8 262'938.1 266'513.1 278'921.1 68'163.2 66'481.3
TEV/EBITDA 9.55x 5.78x 5.60x 6.82x 6.23x 0.00x 6.18x - - - -
Net Income 58'587.5 59'485.5 92'697.6 91'123.1 82'853.5 90'923.8 92'987.8 102'945.8 109'236.2 24'521.6 23'682.2
P/E - - - - - 0.00x 0.00x 11.86x 10.91x 12.64x 12.75x
Profitability S&P Issuer Ratings
EBITDA 248'772.50 Long-Term Rating Date 22.03.2010
EBIT 154'775.47 Long-Term Rating A-
Operating Margin 23.26% Long-Term Outlook STABLE
Pretax Margin 19.32% Short-Term Rating Date -
Return on Assets 9.64% Short-Term Rating -
Return on Common Equity 30.54% Credit Ratios
Return on Capital 15.47% EBITDA/Interest Exp. 11.97
Asset Turnover 0.79% (EBITDA-Capex)/Interest Exp. 6.18
Margin Analysis Net Debt/EBITDA 1.38
Gross Margin 42.1% Total Debt/EBITDA 1.56
EBITDA Margin 34.6% Reference
EBIT Margin 21.1% Total Debt/Equity 133.3%
Net Income Margin 12.5% Total Debt/Capital 56.3%
Structure Asset Turnover 0.79
Current Ratio 0.91 Net Fixed Asset Turnover 1.68
Quick Ratio 0.70 Accounts receivable turnover-days 32.00
Debt to Assets 40.25% Inventory Days 24.16
Tot Debt to Common Equity 133.25% Accounts Payable Turnover Day 88.11
Accounts Receivable Turnover 11.44 Cash Conversion Cycle -62.24
Inventory Turnover 15.15
Price/ Cash Flow Sales/Revenue/Turnover
1.20 700'000.0
600'000.0
1.00
500'000.0
0.80
400'000.0
0.60 300'000.0
0.40 200'000.0
100'000.0
0.20
0.0
0.00 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

5. 29.11.2012
America Movil SAB de CV
Holdings By: All
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 59'009'668 2.27 (10'845'000) 30.09.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 54'867'926 2.12 (17'151'400) 30.09.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 51'462'598 1.98 523'282 30.09.2012 Investment Advisor
GENESIS ASSET MANAGE GENESIS ASSET MANAGE 13F 30'496'218 1.18 631'992 30.09.2012 Investment Advisor
NOMURA HOLDINGS INC NOMURA HOLDINGS INC 13F 21'512'060 0.83 21'453'980 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 21'110'228 0.81 (397'954) 30.09.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 18'496'689 0.71 (1'575'663) 30.09.2012 Investment Advisor
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 17'886'123 0.69 4'957'900 30.09.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 17'775'703 0.69 339'900 30.09.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 17'238'575 0.66 (45'464) 30.09.2012 Investment Advisor
BRANDES INVESTMENT P BRANDES INVESTMENT P 13F 14'941'739 0.58 (1'141'460) 30.09.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 14'161'841 0.55 (1'435'202) 30.09.2012 Investment Advisor
FISHER INVESTMENTS I FISHER INVESTMENTS 13F 13'255'241 0.51 1'529'729 30.09.2012 Investment Advisor
WESTWOOD GLOBAL INVE WESTWOOD GLOBAL INVE 13F 11'723'354 0.45 - 30.09.2012 Investment Advisor
FIDELITY INTERNATION FIDELITY INTERNATION 13F 11'662'675 0.45 (1'757'440) 30.09.2012 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 11'575'681 0.45 1'459'996 30.09.2012 Investment Advisor
HARDING LOEVNER LP HARDING LOEVNER LP 13F 11'362'867 0.44 853'193 30.09.2012 Investment Advisor
CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 10'507'380 0.41 (2'203'600) 30.09.2012 Investment Advisor
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 9'280'788 0.36 (22'800) 31.10.2012 Investment Advisor
TEMPLETON ASSET MANA TEMPLETON ASSET MANA 13F 9'006'008 0.35 (482'400) 30.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Actinver SA MARTIN LARA buy 5 M 29 12 month 27.11.2012
JPMorgan ANDRE BAGGIO neutral 3 M 28 12 month 26.11.2012
Scotia Capital ANDRES COELLO sector underperform 1 M 24 12 month 19.11.2012
Credit Suisse ANDREW T CAMPBELL outperform 5 M 30 Not Provided 16.11.2012
Morgan Stanley MICHEL MORIN Underwt/In-Line 1 M 26 12 month 14.11.2012
Barclays VERA ROSSI overweight 5 M 32 Not Provided 14.11.2012
Macquarie KEVIN SMITHEN outperform 5 M 33 12 month 12.11.2012
HSBC RICHARD DINEEN overweight 5 M 32 Not Provided 07.11.2012
William Blair & Co JAMES D BREEN JR market perform 3 M #N/A N/A Not Provided 26.10.2012
Raymond James RICHARD H PRENTISS JR market perform 3 M #N/A N/A Not Provided 26.10.2012
Stifel Nicolaus CHRISTOPHER C KING hold 3 M #N/A N/A Not Provided 26.10.2012
Itau BBA Securities GREGORIO TOMASSI outperform 5 M 29 Not Provided 26.10.2012
Banorte-IXE MANUEL JIMENEZ ZALDIVAR buy 5 M 30 Not Provided 25.10.2012
BBVA ALEJANDRO GALLOSTRA outperform 5 M 31 12 month 19.10.2012
Goldman Sachs LUCIO G ALDWORTH neutral/neutral 3 M 29 12 month 18.10.2012
Banco BTG Pactual SA CARLOS SEQUEIRA neutral 3 M 27 12 month 27.07.2012
Grupo Santander VALDER NOGUEIRA hold 3 M 26 Not Provided 10.04.2012
Interacciones Casa de Bolsa RAUL OCHOA buy 5 N #N/A N/A Not Provided 09.01.2012
Wells Fargo Securities, LLC JENNIFER M FRITZSCHE suspended coverage #N/A N/A M #N/A N/A Not Provided 30.12.2011
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Gabelli & Co SERGEY DLUZHEVSKIY buy 5 M #N/A N/A Not Provided 31.10.2011
Davenport & Co F DRAKE JOHNSTONE reduce 2 U #N/A N/A Not Provided 21.07.2011
First Global Stockbroking RUPALI VERMA moderate outperform 4 M #N/A N/A Not Provided 29.10.2009
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

6. 29.11.2012
Samsung Electronics Co Ltd
Samsung Electronics Co., Ltd. manufactures a wide range of consumer and Price/Volume
industrial electronic equipment and products such as semiconductors, personal
1600000 1.4 M
computers, peripherals, monitors, televisions, and home appliances including air
1400000 1.2 M
conditioners and microwave ovens. The Company also produces Internet access
1200000 1.0 M
network systems and telecommunications equipment including mobile phones.
1000000
.8 M
800000
Valuation Analysis .6 M
600000
Latest Fiscal Year: 12/2011 .4 M
400000
LTM as of: 09/yy .2 M
200000
52-Week High (26.11.2012) 1'443'000.00
0 .0 M
52-Week Low (19.12.2011) 984'000.00 n-11 d-11 j-12 f-12 m-12 a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12
Daily Volume 262'256.00
Current Price (11/dd/yy) 1414000 Market Data
52-Week High % Change -2.01% Dividend Yield -
52-Week Low % Change 43.70% Beta 1.10
% 52 Week Price Range High/Low 93.46% Equity Float 106.79
Shares Out 30.09.2012 147.3 Short Int -
Market Capitalization 208'281'264.00 1 Yr Total Return 41.42%
Total Debt 4'796'865.00 YTD Return 33.71%
Preferred Stock 119'467.0 Adjusted BETA 1.101
Minority Interest 0.0 Analyst Recs 48
Cash and Equivalents 14'630'145.00 Consensus Rating 4.896
Enterprise Value 198'655'629.52 Average Daily Trading Volume
Relative Stock Price Performance Average Volume 5 Day 267'910
005930 KS EQUITY YTD Change - Average Volume 30 Day 239'579
005930 KS EQUITY YTD % CHANGE - Average Volume 3 Month 278'509
Fiscal Year Ended LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
Total Revenue 63'175'968.0 72'952'991.0 89'772'834.0 112'249'475.0 120'815'977.0 ######### ######### - - - -
TEV/Revenue 0.99x 0.70x 1.05x 1.02x 1.06x 3.69x 4.40x - - - -
EBITDA 12'999'646.0 11'753'254.0 14'207'387.0 20'345'636.0 18'987'465.0 ######### ######### - - - -
TEV/EBITDA 4.82x 4.32x 6.61x 5.60x 6.75x 5.56x 6.75x - - - -
Net Income 7'425'016.0 5'525'904.0 6'208'140.0 13'236'461.0 10'029'152.0 ######### ######### - - - -
P/E 11.23x 11.97x 18.96x 10.69x 15.82x 11.62x 13.07x - - - -
Profitability S&P Issuer Ratings
EBITDA 18'987'465.00 Long-Term Rating Date 25.01.2006
EBIT 9'679'775.00 Long-Term Rating A
Operating Margin 8.01% Long-Term Outlook POS
Pretax Margin 9.51% Short-Term Rating Date 25.01.2006
Return on Assets 12.82% Short-Term Rating A-1
Return on Common Equity 16.55% Credit Ratios
Return on Capital 16.09% EBITDA/Interest Exp. 75.22
Asset Turnover 1.14% (EBITDA-Capex)/Interest Exp. 23.73
Margin Analysis Net Debt/EBITDA -0.40
Gross Margin 25.2% Total Debt/EBITDA 0.11
EBITDA Margin 18.0% Reference
EBIT Margin 11.2% Total Debt/Equity 5.4%
Net Income Margin 8.3% Total Debt/Capital 5.1%
Structure Asset Turnover 1.14
Current Ratio 1.46 Net Fixed Asset Turnover 3.39
Quick Ratio 1.11 Accounts receivable turnover-days 46.18
Debt to Assets 4.08% Inventory Days 19.82
Tot Debt to Common Equity 5.40% Accounts Payable Turnover Day 29.23
Accounts Receivable Turnover 7.93 Cash Conversion Cycle 37.74
Inventory Turnover 18.47
Price/ Cash Flow Sales/Revenue/Turnover
14.00 140'000'000.0
12.00 120'000'000.0
10.00 100'000'000.0
8.00 80'000'000.0
6.00 60'000'000.0
4.00 40'000'000.0
2.00 20'000'000.0
0.00
0.0
03.01.2009 03.07.2009 03.01.2010 03.07.2010 03.01.2011 03.07.2011 03.01.2012 03.07.2012 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

7. 29.11.2012
Samsung Electronics Co Ltd
Holdings By: All
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SAMSUNG ELECTRONICS n/a Co File 16'912'614 11.48 - 31.12.2011 Corporation
SAMSUNG LIFE INSURAN n/a EXCH 11'071'893 7.52 10'982 28.09.2012 Insurance Company
NATIONAL PENSION SER n/a Research 9'764'440 6.63 - 31.12.2011 Investment Advisor
CITIBANK NA n/a Research 7'316'976 4.97 - 31.12.2011 Bank
SAMSUNG C&T CORP n/a Research 5'976'362 4.06 - 31.12.2011 Corporation
KUN HEE LEE n/a EXCH 4'985'464 3.38 - 17.04.2012 n/a
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 2'915'146 1.98 (184'042) 30.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'495'360 1.69 53'763 30.09.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 1'970'288 1.34 (404'618) 30.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'909'028 1.3 9'932 27.11.2012 Investment Advisor
SAMSUNG FIRE & MARIN n/a Research 1'856'370 1.26 - 31.12.2011 Insurance Company
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 1'653'382 1.12 (28'126) 30.09.2012 Investment Advisor
KOREA INVESTMENT TRU Multiple Portfolios MF-AGG 1'421'162 0.96 231'595 30.06.2012 Investment Advisor
SAMSUNG INVESTMENT T Multiple Portfolios MF-AGG 1'344'881 0.91 15'986 30.06.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 1'000'573 0.68 (228'106) 29.02.2012 Investment Advisor
MIRAE ASSET GLOBAL I Multiple Portfolios MF-AGG 912'758 0.62 (32'415) 30.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 862'644 0.59 41'261 30.09.2012 Investment Advisor
JAE-YONG LEE n/a EXCH 840'403 0.57 - 23.12.2011 n/a
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 817'086 0.55 (82'310) 30.09.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 772'687 0.52 (22'414) 30.06.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Tong Yang Investment Bank HYUN PARK buy 5 M 2'000'000 12 month 29.11.2012
Nomura CHANG-WON CHUNG buy 5 M 2'000'000 Not Provided 28.11.2012
Samsung Securities MINSEONG HWANG buy 5 M 1'700'000 12 month 27.11.2012
Credit Suisse KEON HAN outperform 5 M 1'720'000 Not Provided 27.11.2012
LIG Investment Securities CHOI DO-YEON buy 5 M 1'700'000 12 month 27.11.2012
Morgan Stanley SHAWN KIM Overwt/Attractive 5 M 1'700'000 12 month 26.11.2012
NH Investment & Securities LEE SUN-TAE buy 5 M 1'900'000 6 month 26.11.2012
Kyobo Securities KOO JA-WOO buy 5 M 1'850'000 12 month 26.11.2012
Dongbu Securities Co Ltd SHIN HYUNJOON buy 5 M 1'800'000 12 month 23.11.2012
HSBC RICKY JUIL SEO overweight 5 M 1'900'000 Not Provided 23.11.2012
IBK Securities Co Ltd SEUNG-WOO LEE buy 5 M 1'650'000 12 month 23.11.2012
Taurus Investment Securities Co Ltd KIM HYUNG-SIK buy 5 M 1'750'000 6 month 23.11.2012
Daishin Securities Co., Ltd. KANG JEONG-WON JEFF buy 5 M 2'000'000 6 month 22.11.2012
Daewoo Securities JAMES SONG buy 5 M 1'900'000 12 month 21.11.2012
Sanford C. Bernstein & Co MARK C NEWMAN outperform 5 M 2'100'000 12 month 21.11.2012
KIWOOM Securities Co Ltd KIM SUNG-IN buy 5 M 1'870'000 6 month 21.11.2012
SK Securities Co Ltd SUNG-JAE DAVID CHOI buy 5 M 1'800'000 6 month 20.11.2012
KTB Securities JIN SUNG-HAE buy 5 M 1'650'000 12 month 20.11.2012
Korea Investment & Securities SEO WON-SEOK buy 5 M 1'850'000 12 month 16.11.2012
Barclays BAE SEUNG-CHUL overweight 5 M 2'000'000 Not Provided 14.11.2012
Eugene Investment & Securities Co., Ltd JEONG
LEE buy 5 M 1'700'000 12 month 12.11.2012
Daiwa Securities Co. Ltd. JAE H LEE buy 5 M 1'800'000 Not Provided 12.11.2012
Shinyoung Securities Co., Ltd. LIM DORI buy 5 M 1'600'000 12 month 09.11.2012
KB Investment & Securities Co., Ltd BYUN HAN-JOON buy 5 M 1'900'000 12 month 07.11.2012
Hanwha Securities Co., Ltd AHN SEONG-HO buy 5 M 1'850'000 6 month 05.11.2012
BNP Paribas Equity Research PETER YU buy 5 M 1'770'000 12 month 05.11.2012
Woori Investment & Securities YOUNG PARK buy 5 M 1'800'000 12 month 30.10.2012
Standard Chartered SEAN KIM outperform 5 M 1'800'000 12 month 29.10.2012
HMC Investment Securities Co Ltd GREG GEUN-CHANG ROH buy 5 M 1'750'000 Not Provided 29.10.2012
Shinhan Investment Corp KIM YOUNG-CHAN buy 5 M 1'700'000 12 month 29.10.2012
Mizuho Securities CHARLES PARK buy 5 M 1'700'000 12 month 29.10.2012
Leading Investment & Securities SANG-WOO OH buy 5 M 1'920'000 12 month 29.10.2012
E*Trade Securities Korea JI-WOONG KIM buy 5 M 1'570'000 12 month 29.10.2012
HI Investment Securities SONG MYUNG-SUP buy 5 M 1'600'000 6 month 28.10.2012
Goldman Sachs MICHAEL BANG buy/attractive 5 M 1'630'000 12 month 26.10.2012
Susquehanna Financial Group MEHDI HOSSEINI Positive 4 M 1'750'000 12 month 26.10.2012
Wedge Partners BRIAN BLAIR no rating system #N/A N/A M #N/A N/A Not Provided 24.10.2012
Deutsche Bank SEUNGHOON HAN buy 5 M 1'770'000 12 month 17.10.2012
Societe Generale ANDY PERKINS not rated #N/A N/A M #N/A N/A Not Provided 12.10.2012
Macquarie DANIEL KIM outperform 5 M 1'900'000 12 month 05.10.2012
JPMorgan JJ PARK overweight 5 M 1'800'000 6 month 20.09.2012
Berenberg Bank ADNAAN AHMAD buy 5 M 1'450'000 Not Provided 04.09.2012
Meritz Securities Co., Ltd SEI CHEOL LEE buy 5 M 1'800'000 6 month 30.07.2012
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