Use the analysts estimates from 2019 -2022. Click on the estimates tab at the top of the page, and select consensus estimates. Explain why you choose your growth rate. Use the MV of debt found in the WACC section. And the firms cash (found on the balance sheet).
Use the firms WACC (2.19%) as your discount rate. After year 2022 select a constant growth rate (should be a low number, but doesnt have to be the same as the growth rate for the ddm above).
- Multiply the FCF per share by the number of shares outstanding for each estimated year
- If the analyst estimates stop before 2022, use the constant growth rate after the last year of unique FCF estimates
- Estimate V0
- Estimate PV of the stock price.
- Compare your answer to current stock price. Does the company appear to be a good investment?
- ***Update. These photos are high resolution. Please zoom in with your browser to enlarge (hold ctrl + roll mouse). Please let me know if that still doesn't work***
Balance sheet cash from 2018 to 2014 respectively is 361.2, 433.4,183.7, 104.3
CURRENT Mean FY-Dec.19 Mean FY-Dec.20 NA 2858.39 NA NA NA 1519.54 NA 1471.48 NA 2023.90 NA 1466.99 NA 1364.22 NA 1373.93 NA 1582.30 NA 2942.34 NA NA NA 1529.78 NA 1487.76 NA 2058.55 NA 1493.43 NA 1385.45 NA 1393.62 NA 1598.45 Mean FY-Dec.16 Mean FY-Dec.17 Mean FY-Dec.18 Income Statement Revenue 2407.78 2405.83 A 2671.02 2668.53 A 2755.53 2754.28 A Gross Margin (%) NA 72.19 A NA 73.47 A N A 55.58 A EBIT 1394.45 1374.50 A 1466.62 1423.14 A 1441.47 1412.19 A Operating Profit NA 1376.64 NA 1429.64 NA 1415.57 EBITDA 1850.69 1807.81 A 1917.69 1877.67 A 1949.03 1895.84 A Pre-tax Profit 1406.10 1460.44 A 1463.23 1448.47 A 1452.19 1565.61 A Net Income 1166.26 1183.88 A 1243.94 1171.61 A 1360.00 1337.28 A Reported Net Profit 1162.66 1183.88 A 1236.57 1171.61 A 1379.00 1488.90 A Reported Pre-tax Profit 1442.53 1460.44 A 1498.41 1448.47 A 1533.00 1717.22 A Per Share Data EPS 6.69 6.81 A 6.98 6.73 A 7.55 7.67 A Funds From Operations 9.60 9.70 A 10.22 10.23 A 10.52 10.56 A Adjusted Funds From Opera 9.77 9.79 A 10.07 10.23 A 10.52 10.56 A EPS - Fully Reported 6.68 6.81 A 6.97 6.73 A 7.55 8.54 A EBITDA per Share 11.54 10.40 A 11.95 10.78 A 12.12 10.88 A Dividend per Share 7.32 7.30 A 8.04 8.00 A 8.02 8.00 A Cash Flow Capital Expenditure 76.22 351.35 A 93.33 745.96 A 143.53 659.89 A Per Share Data Cash Flow per Share 9.41 11.19 A 6.44 11.34 A 3.13 11.83 A Balance Sheet Net Asset Value 9293.63 9441.65 A 9067.04 8964.37 A 8856.43 9144.73 A Net Debt 270.00 207.06 A 913.10 997.95 A 1212.74 1051.07 A Per Share Data Book Value per Share 54.19 54.31 A 51.45 51.42 A 51.17 52.37 A Valuation ROA (%) 11.75 11.89 A 12.35 11.23 A 11.85 12.35 A ROE (%) 23.09 12.74 A 21.05 12.77 A 25.88 14.81 A Enterprise Value 41754.91 38966.90 A 40421.98 41382.66 A 39031.92 36322.15 A NA NA NA NA NA NA 7.51 10.76 10.78 7.54 12.24 8.07 NA NA NA NA NA NA 7.70 11.02 11.06 7.72 12.50 8.25 NA 176.39 NA 215.00 NA 6.19 NA 12.33 NA 8882.73 NA 2459.44 NA 8717.83 NA 2602.60 NA 50.13 NA 49.22 NA 12.10 NA 25.44 NA 44949.87 NA 12.30 NA 23.29 NA 45237.88 Mean Q1-Mar.18 Mean Q2-Jun.18 Mean Q3-Sep.18 Mean Q4-Dec.18 Mean FY-Dec.18 NA ncome Statement Revenue Gross Margin (%) EBIT Operating Profit EBITDA Pre-tax Profit 667.48 NA 338.38 NA 459.64 347.85 669.92 A 688.74 NA NA 327.60 A 354.73 NA NA 445.58 A 475.44 344.44 A 365.09 287.82 A 314.28 287.82 A 314.28 344.44 A 365.09 685.53 A NA 343.45 A NA 463.22 A 405.29 A 348.30 A 348.30 A 405.29 A 706.06 706.37 A 690.85 NA NA 369.69 358.88 A 380.29 NA NA NA 493.57483.40 A 510.73 383.11 379.59 A NA 335.05 322.68 A 392.59 335.05 3 22.68 A 392.59 383.11 379.59 A N A 692.46 A NA 382.27 A NA 503.64 A 436.29 A 378.49 A 530.10 A 587.91 A 2755.53 2754.28 A NA 55.58 A 1441.47 1412.19 A NA 1415.57 1949.03 1895.84 A 1452.19 1565.61 A 1360.001337.28 A 1379.00 1488.90 A 1533.00 1717.22 A Net Income 298.86 298.86 347.85 1.67 1.65 A 1.83 2.00 A 2.46 2.48 A 2.61 2.57 A 2 2.57 A 2.00 A 2.46 1.66 NA 2.03 2.48 A 2.60 1.65 A 1.81 NANA 2.00 A 2.00 1.85 .67 2.66 1.86 NA 2.00 1.85 A 2.70 A 2.70 A 1.85 A NA 2.00 A 2.11 2.78 2.79 2.12 NA 2.04 2.17 A 2.81 A 2.81 A 3.04 A NA 2.00 A 7.55 10.52 10.52 7.55 12.12 8.02 7.67 A 10.56 A 10.56 A 8.54 A 10.88 A 8.00 A NA 2.00 A 2.73 116.85 A 26.87 139.77 A NA 200.29 A NA 202.99 A 143.53 659.89 A Reported Net Profit Reported Pre-tax Profit Per Share Data EPS Funds From Operations Adjusted Funds From Operations EPS - Fully Reported EBITDA per Share Dividend per Share Cash Flow Capital Expenditure Per Share Data Cash Flow per Share Balance Sheet Net Asset Value Net Debt Per Share Data Book Value per Share Jaluation ROA (%) ROE (%) Enterprise Value 2.38 2.63 A NA NA NA NA NA NA 3.13 11.83 A 8912.42 1067.78 8915.79 A 8799.04 1079.88 A NA 8920.79 A 8770.87 NA NA 8920.02 A 8845.17 985.42 A 1068.29 9144.73 A 1051.07 A 8856.43 1212.74 9144.73 A 1051.07 A 191.82 51.12 A NA 51.14 A NA 51.10 A NA 52.37 A 51.17 52.37 A NA 23.75 NA NA 12.91 A NA NA NA NA NA NA NA NA 44029.89 NA NA NA NA NA NA 40792.25 11.85 12.35 A 25.88 14.81 A 39031.92 36322.15 A Important Notices 10-Apr-06 DEC18 Majority Estimates reflect adoption of FAS123(R) Mean FY-Dec.16 FY-Dec.17 CURRENT FY-Dec. 19 FY-Dec. 18 FY-Dec-20 2,407.78 NA 1,394.45 NA 1,850.69 1,406.10 1,166.26 1,162.66 1,442.53 2,405.83 A 72.19 A 1,374.50 A 1,376.64 1,807.81 A 1,460.44 A 1,183.88 A 1,183.88 A 1,460.44 A 2,668.53 A 73.47 A 1,423.14 A 1,429.64 1,877.67 A 1,448.47 A 1,171.61 A 1,171.61 A 1,448.47 A 2,754.28 A 55.58 A 1,412.19 A 1,415.57 1,895.84 A 1,565.61 A 1,337.28 A 1,488.90 A 1,717.22 A 2,863.89 NA 1,511.61 1,471.48 2,019.77 1,525.27 1,373.93 1,373.93 1,582.30 2,954.58 NA 1,522.52 1,488.55 2,055.71 1,537.54 1,393.62 1,393.62 1,598.45 6.69 9.60 9.77 6.68 11.54 7.32 6.81 A 9.70A 9.79 A 6.81 A 10.40 A 7.30 A 6.73 10.23 10.23 6.73 10.78 8.00 A A A A A A 7.67 10.56 10.56 8.54 10.88 8.00 A A A A A A 7.53 10.76 10.78 7.54 12.24 8.07 7.72 11.03 11.06 7.72 12.50 8.25 76.22 351.35 A 745.96 A 659.89 A 176.39 215.00 Income Statement Revenue Gross Margin (%) EBIT Operating Profit EBITDA Pre-tax Profit Net Income Reported Net Profit Reported Pre-tax Profit Per Share Data EPS Funds From Operations Adjusted Funds From Operations EPS - Fully Reported EBITDA per Share Dividend per Share Cash Flow Capital Expenditure Per Share Data Cash Flow per Share Balance Sheet Net Asset Value Net Debt Per Share Data Book Value per Share Valuation ROA (%) ROE (%) Enterprise Value Recommendations # of Brokers Recommendations Strong Buy Buy Hold Underperform Sell Total 9.41 11.19 A 11.34 A 11.83 A 6.19 12.33 9,293.63 270.00 9,441.65 A 207.06 A 8,964.37 997.95 A A 9,144.73 1,051.07 A A 8,882.73 2,459.44 8,717.83 2,602.60 54.19 54.31 A 51.42 A 52.37 A 50.13 49.22 11.75 23.09 41,754.91 11.89 A 12.74 A 38,966.90 A P/E Ratios 11.23 A 12.77 A 41,382.66 A 12.35 A 12.10 14.81 A 25.44 36,322.15 A 47,952.71 More Ratios Target Price and Long Term Growth 12.30 23.29 47,900.28 Month Ago Current LTG(%) Period FYO FY1 Howoww P/E Ratio 27.252 27.756 27.064 26.406 PEG Ratio NA Mean -15.279 Median 10.589 High 10.597 Low Standard Dev Total# Target Price 237.08 235.00 266.00 214.00 18.84 NA NA Fr3 NA 20-Feb-18 DEC20 Majority Estimates reflect adoption of FAS123(R) Mean FY-Dec. 18 CURRENT FY-Dec 19 FY-Dec-20 FY-Dec.21 FY-Dec. 22 2,755.53 2,954.58 3,043.09 3,255.69 NA NA NA NA NA NA 1,441.47 NA 1,949.03 1,452.19 1,360.00 1,379.00 1,533.00 2,754.28 A 55.58 A 1,412.19 A 1,415.57 1,895.84 A 1,565.61 A 1,337.28 A 1,488.90 A 1,717.22 A 2,863.89 NA 1,511.61 1,471.48 2,019.77 1,525.27 1,373.93 1,373.93 1,582.30 1,522.52 1,488.55 2,055.71 1,537.54 1,393.62 1,393.62 1,598.45 1,545.25 NA 2,090.11 1,583.35 1,426.77 1,426.77 1,566.70 2,223.89 1,635.80 1,540.73 1,540.73 1,635.80 Income Statement Revenue Gross Margin (%) EBIT Operating Profit EBITDA Pre-tax Profit Net Income Reported Net Profit Reported Pre-tax Profit Per Share Data EPS Funds From Operations Adjusted Funds From Operations EPS - Fully Reported EBITDA per Share Dividend per Share Cash Flow Capital Expenditure Per Share Data Cash Flow per Share Balance Sheet Net Asset Value Net Debt Per Share Data Book Value per Share Valuation ROA (%) ROE (%) Enterprise Value Recommendations # of Brokers Recommendations 7.55 10.52 10.52 7.55 12.12 8.02 7.67 10.56 10.56 8.54 10.88 8.00 A A A A A A 7.53 10.76 10.78 7.54 12.24 8.07 7.72 11.03 11.06 7.72 12.50 8.25 7.92 11.34 11.39 7.94 12.83 8.49 8.16 11.92 11.92 8.16 13.27 8.64 143.53 659.89 A 176.39 215.00 181.28 NA 3.13 11.83 A 6.19 12.33 12.69 NA 8,856.43 1,212.74 9,144.73 A 1,051.07 A 8,882.73 2,459.44 8,717.83 2,602.60 8,411.33 2,723.73 NA 51.17 52.37 A 50.13 49.22 38.29 NA 11.85 25.88 39,031.92 12.35 A 14.81 A 36,322.15 A P/E Ratios 12.10 25.44 47,952.71 12.30 12.10 23.29 21.62 47,900.28 48,166.06 More Ratios Target Price and Long Term Growth NA Month Ago Current 2 3 Perind P/F Ratin PEG Ratin Tamet Price ITG0%) 12/31/2018 USD 12/31/2017 USD 12/31/2016 USD restated 12/31/2015 USD restated 12/31/2014 USD restated 361.2 361.2 784.0 9,442.1 15,582.2 433.4 433.4 7242 9,230.1 14,930.4 183.7 183.7 689.2 8,922.6 14,193.5 104.3 104.3 809.3 8,557.7 13,424.5 187.7 187.7 813.7 8,485.3 12,967.8 13,963.2 13,205.3 12,863.2 15,296.8 285.3 14,666.0 264.4 6,140.1 5,700.3 5,271.0 4,866.7 4,482.5 4,482.5 331.9 Assets Cash & ST Investments Cash Investment in Unconsolidated Subsidiaries Property Plant & Equipment - Net Property Plant & Equipment - Gross Land Buildings Construction Work In Progress Machinery & Equipment RentalLease Property Transportation Equipment PP&E Under Capitalized Leases (Less) Accumulated Depreciation Accum Depr-Land Accum Depr-Buildings Other Assets Deferred Charges Tangible Other Assets Intangible Other Assets Inventories - Total Total Assets Liabilities Deposits - Total Total Debt ST Debt & Current Portion of LT Debt Long Term Debt LT Debt Excl Capital Leases Non-Convertible Debt Convertible Debt Capitalized Lease Obligations Provision for Risks & Charges Deferred Income Deferred Taxes Deferred Taxes - Credit Deferred Taxes - Debit Deferred Tax Liability In Untaxed Reserves Other Liabilities Total Liabilities 6,140.1 341.0 0.0 131.1 209.9 0.0 10,928.3 5,700.3 345.2 0.0 130.3 215.0 5,271.0 334.9 0.0 122.1 212.7 0.0 10,130.3 4,866.7 306.9 0.0 95.5 211.5 0.0 9,778.2 0.0 103.3 228.6 0.0 9,818.7 0.0 10,732.9 390.7 1.7 1,412.3 1.9 1,410.4 1,410.4 1,410.4 0.0 0.0 1,431.3 11.2 1,420.1 1,420.1 1,420.1 0.0 0.0 389.1 389.1 319.0 29.0 290.0 290.0 290.0 0.0 0.0 64.4 17.8 46.5 46.5 46.5 0.0 0.0 389.1 0.0 0.0 ' 0.0 ' 371.3 1,783.5 337.2 1,768.5 297.9 688.7 261.6 580.6 247.1 311.5 12/31/2015 12/31/2018 USD 12/31/2017 USD 12/31/2016 USD restated USD 12/31/2014 USD restated restated 3612 361.2 7840 9,442.1 15,582 2 433.4 433.4 7242 9.230.1 14,930.4 183.7 183.7 6892 8,922.6 14,193.5 104.3 1043 809.3 8,557.7 13,424.5 187.7 187.7 813.7 8,485.3 12.967.8 14.666.0 13,963.2 13,205.3 12,863.2 15,296.8 285.3 264.4 Assets Cash & ST Investments Cash Investment in Unconsolidated Subsidiaries Property Plant & Equipment - Net Property Plant & Equipment - Gross Land Buildings Construction Work In Progress Machinery & Equipment Rental Lease Property Transportation Equipment PP&E Under Capitalized Leases (Less) Accumulated Depreciation Accum Depr-Land Accum Depr-Buildings Other Assets Deferred Charges Tangible Other Assets Intangible Other Assets inventories - Total Total Assets liabilities 6,140.1 5,700.3 5,271.0 4,866.7 4,482.5 5,700.3 345.2 6,140.1 341.0 0.0 131.1 209.9 4,482.5 331.9 0.0 5,271.0 334.9 0.0 122.1 212.7 0.0 10,130.3 130.3 215.0 0.0 10,732.9 4,866.7 306.9 0.0 95.5 211.5 0.0 9,778.2 103,30 0.0 228.6 0.0 9,818.7 10,928.3 CURRENT Mean FY-Dec.19 Mean FY-Dec.20 NA 2858.39 NA NA NA 1519.54 NA 1471.48 NA 2023.90 NA 1466.99 NA 1364.22 NA 1373.93 NA 1582.30 NA 2942.34 NA NA NA 1529.78 NA 1487.76 NA 2058.55 NA 1493.43 NA 1385.45 NA 1393.62 NA 1598.45 Mean FY-Dec.16 Mean FY-Dec.17 Mean FY-Dec.18 Income Statement Revenue 2407.78 2405.83 A 2671.02 2668.53 A 2755.53 2754.28 A Gross Margin (%) NA 72.19 A NA 73.47 A N A 55.58 A EBIT 1394.45 1374.50 A 1466.62 1423.14 A 1441.47 1412.19 A Operating Profit NA 1376.64 NA 1429.64 NA 1415.57 EBITDA 1850.69 1807.81 A 1917.69 1877.67 A 1949.03 1895.84 A Pre-tax Profit 1406.10 1460.44 A 1463.23 1448.47 A 1452.19 1565.61 A Net Income 1166.26 1183.88 A 1243.94 1171.61 A 1360.00 1337.28 A Reported Net Profit 1162.66 1183.88 A 1236.57 1171.61 A 1379.00 1488.90 A Reported Pre-tax Profit 1442.53 1460.44 A 1498.41 1448.47 A 1533.00 1717.22 A Per Share Data EPS 6.69 6.81 A 6.98 6.73 A 7.55 7.67 A Funds From Operations 9.60 9.70 A 10.22 10.23 A 10.52 10.56 A Adjusted Funds From Opera 9.77 9.79 A 10.07 10.23 A 10.52 10.56 A EPS - Fully Reported 6.68 6.81 A 6.97 6.73 A 7.55 8.54 A EBITDA per Share 11.54 10.40 A 11.95 10.78 A 12.12 10.88 A Dividend per Share 7.32 7.30 A 8.04 8.00 A 8.02 8.00 A Cash Flow Capital Expenditure 76.22 351.35 A 93.33 745.96 A 143.53 659.89 A Per Share Data Cash Flow per Share 9.41 11.19 A 6.44 11.34 A 3.13 11.83 A Balance Sheet Net Asset Value 9293.63 9441.65 A 9067.04 8964.37 A 8856.43 9144.73 A Net Debt 270.00 207.06 A 913.10 997.95 A 1212.74 1051.07 A Per Share Data Book Value per Share 54.19 54.31 A 51.45 51.42 A 51.17 52.37 A Valuation ROA (%) 11.75 11.89 A 12.35 11.23 A 11.85 12.35 A ROE (%) 23.09 12.74 A 21.05 12.77 A 25.88 14.81 A Enterprise Value 41754.91 38966.90 A 40421.98 41382.66 A 39031.92 36322.15 A NA NA NA NA NA NA 7.51 10.76 10.78 7.54 12.24 8.07 NA NA NA NA NA NA 7.70 11.02 11.06 7.72 12.50 8.25 NA 176.39 NA 215.00 NA 6.19 NA 12.33 NA 8882.73 NA 2459.44 NA 8717.83 NA 2602.60 NA 50.13 NA 49.22 NA 12.10 NA 25.44 NA 44949.87 NA 12.30 NA 23.29 NA 45237.88 Mean Q1-Mar.18 Mean Q2-Jun.18 Mean Q3-Sep.18 Mean Q4-Dec.18 Mean FY-Dec.18 NA ncome Statement Revenue Gross Margin (%) EBIT Operating Profit EBITDA Pre-tax Profit 667.48 NA 338.38 NA 459.64 347.85 669.92 A 688.74 NA NA 327.60 A 354.73 NA NA 445.58 A 475.44 344.44 A 365.09 287.82 A 314.28 287.82 A 314.28 344.44 A 365.09 685.53 A NA 343.45 A NA 463.22 A 405.29 A 348.30 A 348.30 A 405.29 A 706.06 706.37 A 690.85 NA NA 369.69 358.88 A 380.29 NA NA NA 493.57483.40 A 510.73 383.11 379.59 A NA 335.05 322.68 A 392.59 335.05 3 22.68 A 392.59 383.11 379.59 A N A 692.46 A NA 382.27 A NA 503.64 A 436.29 A 378.49 A 530.10 A 587.91 A 2755.53 2754.28 A NA 55.58 A 1441.47 1412.19 A NA 1415.57 1949.03 1895.84 A 1452.19 1565.61 A 1360.001337.28 A 1379.00 1488.90 A 1533.00 1717.22 A Net Income 298.86 298.86 347.85 1.67 1.65 A 1.83 2.00 A 2.46 2.48 A 2.61 2.57 A 2 2.57 A 2.00 A 2.46 1.66 NA 2.03 2.48 A 2.60 1.65 A 1.81 NANA 2.00 A 2.00 1.85 .67 2.66 1.86 NA 2.00 1.85 A 2.70 A 2.70 A 1.85 A NA 2.00 A 2.11 2.78 2.79 2.12 NA 2.04 2.17 A 2.81 A 2.81 A 3.04 A NA 2.00 A 7.55 10.52 10.52 7.55 12.12 8.02 7.67 A 10.56 A 10.56 A 8.54 A 10.88 A 8.00 A NA 2.00 A 2.73 116.85 A 26.87 139.77 A NA 200.29 A NA 202.99 A 143.53 659.89 A Reported Net Profit Reported Pre-tax Profit Per Share Data EPS Funds From Operations Adjusted Funds From Operations EPS - Fully Reported EBITDA per Share Dividend per Share Cash Flow Capital Expenditure Per Share Data Cash Flow per Share Balance Sheet Net Asset Value Net Debt Per Share Data Book Value per Share Jaluation ROA (%) ROE (%) Enterprise Value 2.38 2.63 A NA NA NA NA NA NA 3.13 11.83 A 8912.42 1067.78 8915.79 A 8799.04 1079.88 A NA 8920.79 A 8770.87 NA NA 8920.02 A 8845.17 985.42 A 1068.29 9144.73 A 1051.07 A 8856.43 1212.74 9144.73 A 1051.07 A 191.82 51.12 A NA 51.14 A NA 51.10 A NA 52.37 A 51.17 52.37 A NA 23.75 NA NA 12.91 A NA NA NA NA NA NA NA NA 44029.89 NA NA NA NA NA NA 40792.25 11.85 12.35 A 25.88 14.81 A 39031.92 36322.15 A Important Notices 10-Apr-06 DEC18 Majority Estimates reflect adoption of FAS123(R) Mean FY-Dec.16 FY-Dec.17 CURRENT FY-Dec. 19 FY-Dec. 18 FY-Dec-20 2,407.78 NA 1,394.45 NA 1,850.69 1,406.10 1,166.26 1,162.66 1,442.53 2,405.83 A 72.19 A 1,374.50 A 1,376.64 1,807.81 A 1,460.44 A 1,183.88 A 1,183.88 A 1,460.44 A 2,668.53 A 73.47 A 1,423.14 A 1,429.64 1,877.67 A 1,448.47 A 1,171.61 A 1,171.61 A 1,448.47 A 2,754.28 A 55.58 A 1,412.19 A 1,415.57 1,895.84 A 1,565.61 A 1,337.28 A 1,488.90 A 1,717.22 A 2,863.89 NA 1,511.61 1,471.48 2,019.77 1,525.27 1,373.93 1,373.93 1,582.30 2,954.58 NA 1,522.52 1,488.55 2,055.71 1,537.54 1,393.62 1,393.62 1,598.45 6.69 9.60 9.77 6.68 11.54 7.32 6.81 A 9.70A 9.79 A 6.81 A 10.40 A 7.30 A 6.73 10.23 10.23 6.73 10.78 8.00 A A A A A A 7.67 10.56 10.56 8.54 10.88 8.00 A A A A A A 7.53 10.76 10.78 7.54 12.24 8.07 7.72 11.03 11.06 7.72 12.50 8.25 76.22 351.35 A 745.96 A 659.89 A 176.39 215.00 Income Statement Revenue Gross Margin (%) EBIT Operating Profit EBITDA Pre-tax Profit Net Income Reported Net Profit Reported Pre-tax Profit Per Share Data EPS Funds From Operations Adjusted Funds From Operations EPS - Fully Reported EBITDA per Share Dividend per Share Cash Flow Capital Expenditure Per Share Data Cash Flow per Share Balance Sheet Net Asset Value Net Debt Per Share Data Book Value per Share Valuation ROA (%) ROE (%) Enterprise Value Recommendations # of Brokers Recommendations Strong Buy Buy Hold Underperform Sell Total 9.41 11.19 A 11.34 A 11.83 A 6.19 12.33 9,293.63 270.00 9,441.65 A 207.06 A 8,964.37 997.95 A A 9,144.73 1,051.07 A A 8,882.73 2,459.44 8,717.83 2,602.60 54.19 54.31 A 51.42 A 52.37 A 50.13 49.22 11.75 23.09 41,754.91 11.89 A 12.74 A 38,966.90 A P/E Ratios 11.23 A 12.77 A 41,382.66 A 12.35 A 12.10 14.81 A 25.44 36,322.15 A 47,952.71 More Ratios Target Price and Long Term Growth 12.30 23.29 47,900.28 Month Ago Current LTG(%) Period FYO FY1 Howoww P/E Ratio 27.252 27.756 27.064 26.406 PEG Ratio NA Mean -15.279 Median 10.589 High 10.597 Low Standard Dev Total# Target Price 237.08 235.00 266.00 214.00 18.84 NA NA Fr3 NA 20-Feb-18 DEC20 Majority Estimates reflect adoption of FAS123(R) Mean FY-Dec. 18 CURRENT FY-Dec 19 FY-Dec-20 FY-Dec.21 FY-Dec. 22 2,755.53 2,954.58 3,043.09 3,255.69 NA NA NA NA NA NA 1,441.47 NA 1,949.03 1,452.19 1,360.00 1,379.00 1,533.00 2,754.28 A 55.58 A 1,412.19 A 1,415.57 1,895.84 A 1,565.61 A 1,337.28 A 1,488.90 A 1,717.22 A 2,863.89 NA 1,511.61 1,471.48 2,019.77 1,525.27 1,373.93 1,373.93 1,582.30 1,522.52 1,488.55 2,055.71 1,537.54 1,393.62 1,393.62 1,598.45 1,545.25 NA 2,090.11 1,583.35 1,426.77 1,426.77 1,566.70 2,223.89 1,635.80 1,540.73 1,540.73 1,635.80 Income Statement Revenue Gross Margin (%) EBIT Operating Profit EBITDA Pre-tax Profit Net Income Reported Net Profit Reported Pre-tax Profit Per Share Data EPS Funds From Operations Adjusted Funds From Operations EPS - Fully Reported EBITDA per Share Dividend per Share Cash Flow Capital Expenditure Per Share Data Cash Flow per Share Balance Sheet Net Asset Value Net Debt Per Share Data Book Value per Share Valuation ROA (%) ROE (%) Enterprise Value Recommendations # of Brokers Recommendations 7.55 10.52 10.52 7.55 12.12 8.02 7.67 10.56 10.56 8.54 10.88 8.00 A A A A A A 7.53 10.76 10.78 7.54 12.24 8.07 7.72 11.03 11.06 7.72 12.50 8.25 7.92 11.34 11.39 7.94 12.83 8.49 8.16 11.92 11.92 8.16 13.27 8.64 143.53 659.89 A 176.39 215.00 181.28 NA 3.13 11.83 A 6.19 12.33 12.69 NA 8,856.43 1,212.74 9,144.73 A 1,051.07 A 8,882.73 2,459.44 8,717.83 2,602.60 8,411.33 2,723.73 NA 51.17 52.37 A 50.13 49.22 38.29 NA 11.85 25.88 39,031.92 12.35 A 14.81 A 36,322.15 A P/E Ratios 12.10 25.44 47,952.71 12.30 12.10 23.29 21.62 47,900.28 48,166.06 More Ratios Target Price and Long Term Growth NA Month Ago Current 2 3 Perind P/F Ratin PEG Ratin Tamet Price ITG0%) 12/31/2018 USD 12/31/2017 USD 12/31/2016 USD restated 12/31/2015 USD restated 12/31/2014 USD restated 361.2 361.2 784.0 9,442.1 15,582.2 433.4 433.4 7242 9,230.1 14,930.4 183.7 183.7 689.2 8,922.6 14,193.5 104.3 104.3 809.3 8,557.7 13,424.5 187.7 187.7 813.7 8,485.3 12,967.8 13,963.2 13,205.3 12,863.2 15,296.8 285.3 14,666.0 264.4 6,140.1 5,700.3 5,271.0 4,866.7 4,482.5 4,482.5 331.9 Assets Cash & ST Investments Cash Investment in Unconsolidated Subsidiaries Property Plant & Equipment - Net Property Plant & Equipment - Gross Land Buildings Construction Work In Progress Machinery & Equipment RentalLease Property Transportation Equipment PP&E Under Capitalized Leases (Less) Accumulated Depreciation Accum Depr-Land Accum Depr-Buildings Other Assets Deferred Charges Tangible Other Assets Intangible Other Assets Inventories - Total Total Assets Liabilities Deposits - Total Total Debt ST Debt & Current Portion of LT Debt Long Term Debt LT Debt Excl Capital Leases Non-Convertible Debt Convertible Debt Capitalized Lease Obligations Provision for Risks & Charges Deferred Income Deferred Taxes Deferred Taxes - Credit Deferred Taxes - Debit Deferred Tax Liability In Untaxed Reserves Other Liabilities Total Liabilities 6,140.1 341.0 0.0 131.1 209.9 0.0 10,928.3 5,700.3 345.2 0.0 130.3 215.0 5,271.0 334.9 0.0 122.1 212.7 0.0 10,130.3 4,866.7 306.9 0.0 95.5 211.5 0.0 9,778.2 0.0 103.3 228.6 0.0 9,818.7 0.0 10,732.9 390.7 1.7 1,412.3 1.9 1,410.4 1,410.4 1,410.4 0.0 0.0 1,431.3 11.2 1,420.1 1,420.1 1,420.1 0.0 0.0 389.1 389.1 319.0 29.0 290.0 290.0 290.0 0.0 0.0 64.4 17.8 46.5 46.5 46.5 0.0 0.0 389.1 0.0 0.0 ' 0.0 ' 371.3 1,783.5 337.2 1,768.5 297.9 688.7 261.6 580.6 247.1 311.5 12/31/2015 12/31/2018 USD 12/31/2017 USD 12/31/2016 USD restated USD 12/31/2014 USD restated restated 3612 361.2 7840 9,442.1 15,582 2 433.4 433.4 7242 9.230.1 14,930.4 183.7 183.7 6892 8,922.6 14,193.5 104.3 1043 809.3 8,557.7 13,424.5 187.7 187.7 813.7 8,485.3 12.967.8 14.666.0 13,963.2 13,205.3 12,863.2 15,296.8 285.3 264.4 Assets Cash & ST Investments Cash Investment in Unconsolidated Subsidiaries Property Plant & Equipment - Net Property Plant & Equipment - Gross Land Buildings Construction Work In Progress Machinery & Equipment Rental Lease Property Transportation Equipment PP&E Under Capitalized Leases (Less) Accumulated Depreciation Accum Depr-Land Accum Depr-Buildings Other Assets Deferred Charges Tangible Other Assets Intangible Other Assets inventories - Total Total Assets liabilities 6,140.1 5,700.3 5,271.0 4,866.7 4,482.5 5,700.3 345.2 6,140.1 341.0 0.0 131.1 209.9 4,482.5 331.9 0.0 5,271.0 334.9 0.0 122.1 212.7 0.0 10,130.3 130.3 215.0 0.0 10,732.9 4,866.7 306.9 0.0 95.5 211.5 0.0 9,778.2 103,30 0.0 228.6 0.0 9,818.7 10,928.3
