S&P500 Complete List PDF
Uploaded by
Macera FelipeS&P500 Complete List PDF
Uploaded by
Macera Felipe3M Co (NYSE:MMM) 03/02/2020 4:10PM EST GuruFocus
Price: $ 153.02 +3.78(+2.53%) Market Cap: $ 88.08 B Enterprise Value: $106.97 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 19.59
Cash to Debt 0.12 Operating margin (%) 18.86
Forward P/E N/A
Equity to Asset 0.23 Net-margin (%) 14.22
PE(NRI) 19.59
Interest Coverage 13.53 ROE (%) 45.39
F-Score:
P/B 8.75
ROA (%) 11.32
5 P/S 2.79
Z-Score: ROC (Joel Greenblatt) (%) 43.34
4.13 PFCF 16.65
Revenue Growth (3Y)(%) 4.10
M-Score: POCF 12.65
-2.67 EBITDA Growth (3Y)(%) -2.10
EV-to-EBIT 17.36
WACC vs 7.45% EPS Growth (3Y)(%) -1.50
ROIC 20.12% PEG 13.07
WACC
ROIC Shiller P/E 19.57
Current Ratio 1.41
Quick Ratio 0.96
Days Inventory 90.93
Days Sales Outstanding 54.42
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year 3M is a multinational conglomerate that has operated since 1902 when it was known as Minnesota Mining and
Dividend Payout Ratio: Too
Manufacturing. The company is well-known for its research and development laboratory, and the firm leverages its
high 2016 7,409 7,662 7,709 7,329 30,109 science and technology across multiple product categories. As of 2019, 3M is organized into four business segments:
2017 7,685 7,810 8,172 7,990 31,657 safety and industrial, transportation and electronics, health care, and consumer. About 60% of the company's
Revenue per Share: Growth revenue comes from outside the United States, with the safety and industrial segment constituting most of the firm's
2018 8,278 8,390 8,152 7,945 32,765 net sales. Many of the company's 55,000-plus products touch and concern a variety of consumers and end
slow down
2019 7,863 8,171 7,991 8,111 32,136 markets.... (Read More)
Long-Term Debt: Issuing new 2020 Competitors: XTER:SIE, NYSE:GE, XPAR:SU, NYSE:ITW, NYSE:HON, XSWX:ABBN, NYSE:EMR, NYSE:ETN,
debt OSTO:ATCO A, NYSE:ROP, TSE:6594, NYSE:IR, TSE:6954, OHEL:KNEBV, TSE:6273, NYSE:PH, NYSE:CMI,
Quarterly Earnings per Share XSWX:SCHN, NYSE:ROK, BSP:WEGE3
Insider Sell: Insider Selling
Mar Jun Sep Dec Full Year Insider Trades
2016 2.05 2.08 2.15 1.88 8.16
Good Signs 2017 2.16 2.58 2.33 0.85 7.92
2018 0.98 3.07 2.58 2.27 8.90
Dividend Yield %: Close to 2019 1.51 1.92 2.72 1.66 7.81
10-year high 2020
PB Ratio: Close to 3-year low Quarterly Dividends Per Share
PS Ratio: Close to 5-year low Mar Jun Sep Dec Full Year
2016 1.11 1.11 1.11 1.11 4.44
DCF 2017 1.18 1.18 1.18 1.18 4.70
2018 1.36 1.36 1.36 1.36 5.44
EPS without NRI: $7.81 2019 1.44 1.44 1.44 1.44 5.76
Growth Rate in the next 10 2020
years: 5.70%
Terminal Growth Rate for 10 Growth Rate
years: 4% Annual Rates(per share) 10-Y 5-Y 12-M
Fair Value: $87.38
Revenue Growth (%) 4.80 3.30 0.90
EBITDA Growth (%) 5.30 1.50 -9.70
Reverse DCF Free Cash Flow Growth (%) 5.70 2.60 13.70
Expected eps Growth Rate: Book Value Growth (%) -2.40 -2.40 3.00
14.34%
EPS Growth (%) 5.70 1.90 -12.10
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MMM 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
25.10 27.09 30.12 33.42 35.73 32.72 36.75 41.18 42.52 44.51 48.07 47.51 48.67 51.67 54.43 54.92 54.93 Revenue per Share
6.74 7.55 8.97 10.11 9.16 8.50 9.75 10.37 11.11 11.65 12.96 13.19 14.10 15.37 14.68 13.25 13.26 EBITDA per Share
5.48 6.28 7.55 8.64 7.53 6.86 8.21 8.65 9.27 9.67 10.83 10.94 11.72 12.85 12.21 10.53 10.53 EBIT per Share
3.56 3.98 5.06 5.60 4.89 4.52 5.63 5.96 6.32 6.72 7.49 7.58 8.16 7.93 8.89 7.81 7.81 Earnings per Share (diluted)
3.56 3.98 5.06 5.60 4.89 4.52 5.63 5.96 6.32 6.72 7.49 7.58 8.16 7.93 8.89 7.81 7.81 eps without NRI
4.38 4.36 4.93 5.93 5.02 6.34 5.28 5.80 6.36 6.67 7.44 7.23 8.36 9.01 8.73 9.12 9.12 Owner Earnings per Share (TTM)
4.13 4.17 3.51 3.86 4.33 5.71 5.63 5.43 5.43 5.99 7.75 7.78 8.47 7.94 8.08 9.18 9.19 Free Cashflow per Share
1.44 1.68 1.84 1.92 2.00 2.04 2.10 2.20 2.36 2.54 3.42 4.10 4.44 4.70 5.44 5.76 5.76 Dividends per Share
13.42 13.77 13.56 16.60 14.24 17.96 22.00 22.19 25.58 26.39 20.64 18.76 17.26 19.44 16.99 17.50 17.50 Book Value per Share
9.63 8.45 7.04 8.98 3.93 7.87 9.86 9.29 12.03 12.77 7.28 -0.69 -1.99 -3.17 -5.05 -16.97 -16.97 Tangible Book per Share
3.74 3.23 4.93 7.05 9.77 8.19 7.79 7.55 8.84 9.15 10.82 17.80 19.60 23.55 25.49 36.99 36.99 Total Debt per Share
82.07 77.50 77.93 84.32 57.54 82.67 86.30 81.73 92.85 140 164 151 179 235 191 176 153 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
31.11 29.95 37.84 37.74 32.00 28.20 28.74 27.56 26.94 26.56 32.38 39.39 46.49 44.44 50.09 46.02 45.39 Return on Equity %
14.83 15.08 18.41 17.81 13.71 12.04 14.23 13.87 13.57 13.82 15.31 15.08 15.35 13.71 14.36 11.26 11.32 Return on Assets %
61.07 68.48 76.37 73.86 55.71 49.85 60.40 57.93 55.28 55.04 60.60 58.28 58.93 62.17 56.13 44.90 43.34 Return on Capital %
29.83 28.89 27.38 27.99 24.81 22.33 26.41 25.86 24.89 23.82 27.18 26.41 24.95 22.44 23.83 19.34 20.12 Return on Invested Capital %
7.27 7.79 8.54 7.99 4.39 8.04 7.87 8.25 7.37 9.58 8.93 8.80 7.88 7.56 8.64 8.38 7.45 Weighted Average Cost Of Capital (WACC) %
2.34 3.08 4.03 4.88 3.65 3.48 3.54 3.45 3.02 2.39 2.20 1.68 1.77 2.51 2.44 2.49 2.49 Effective Interest Rate on Debt %
50.02 50.83 48.90 47.94 47.05 47.63 48.12 47.00 47.55 47.83 48.31 49.19 49.79 49.28 49.09 46.68 46.68 Gross Margin %
21.62 22.93 20.16 21.85 20.74 20.82 22.20 20.86 21.68 21.59 22.42 22.79 22.97 22.45 20.33 18.86 18.86 Operating Margin %
14.20 14.70 16.80 16.74 13.69 13.81 15.32 14.46 14.86 15.09 15.57 15.96 16.77 15.35 16.33 14.22 14.22 Net Margin %
16.45 15.41 11.65 11.54 12.12 17.46 15.31 13.19 12.76 13.45 16.13 16.38 17.41 15.37 14.84 16.71 16.71 FCF Margin %
0.28 0.24 0.36 0.43 0.69 0.46 0.35 0.34 0.35 0.35 0.52 0.95 1.14 1.21 1.50 2.11 2.11 Debt to Equity
0.50 0.51 0.47 0.48 0.38 0.47 0.52 0.49 0.52 0.52 0.42 0.35 0.31 0.30 0.27 0.23 0.23 Total Equity to Total Asset
0.14 0.12 0.17 0.20 0.26 0.21 0.18 0.17 0.18 0.18 0.22 0.33 0.36 0.37 0.40 0.48 0.48 Total Debt to Total Asset
52.26 52.17 53.59 51.00 47.10 41.53 44.70 45.06 43.42 43.80 47.48 46.47 45.57 44.02 43.18 36.96 37.16 Gross Profit to Total Asset %
1.05 1.03 1.10 1.06 1.00 0.87 0.93 0.96 0.91 0.92 0.98 0.95 0.92 0.89 0.88 0.79 0.80 Asset Turnover
0.40 0.42 0.36 0.34 0.41 0.45 0.37 0.37 0.37 0.38 0.46 0.54 0.54 0.59 0.61 0.74 0.74 Dividend Payout Ratio
50.93 48.94 49.39 50.16 46.15 51.30 49.49 47.67 49.57 50.28 48.61 50.08 53.24 56.62 55.92 54.42 54.42 Days Sales Outstanding
42.62 44.05 43.69 43.14 35.49 43.80 43.86 50.22 53.01 53.17 51.93 53.62 43.41 44.22 49.58 47.46 47.46 Days Accounts Payable
67.75 71.17 74.21 78.14 80.00 85.18 76.45 76.42 84.39 87.26 84.00 85.70 83.33 84.33 91.90 90.53 90.93 Days Inventory
76.06 76.06 79.91 85.16 90.66 92.68 82.08 73.87 80.95 84.37 80.68 82.16 93.16 96.73 98.24 97.49 97.89 Cash Conversion Cycle
5.39 5.13 4.92 4.67 4.56 4.28 4.77 4.78 4.33 4.18 4.35 4.26 4.38 4.33 3.97 4.03 4.01 Inventory Turnover
0.50 0.49 0.51 0.52 0.53 0.52 0.52 0.53 0.52 0.52 0.52 0.51 0.50 0.51 0.51 0.53 0.53 COGS to Revenue
0.09 0.10 0.10 0.11 0.12 0.12 0.11 0.11 0.12 0.13 0.12 0.12 0.12 0.12 0.13 0.13 0.13 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MMM 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
20,011 21,167 22,923 24,462 25,269 23,123 26,662 29,611 29,904 30,871 31,821 30,274 30,109 31,657 32,765 32,136 32,136 Revenue
10,002 10,408 11,713 12,735 13,379 12,109 13,831 15,693 15,685 16,106 16,447 15,383 15,118 16,055 16,682 17,136 17,136 Cost of Goods Sold
10,009 10,759 11,210 11,727 11,890 11,014 12,831 13,918 14,219 14,765 15,374 14,891 14,991 15,602 16,083 15,000 15,000 Gross Profit
50.02 50.83 48.90 47.94 47.05 47.63 48.12 47.00 47.55 47.83 48.31 49.19 49.79 49.28 49.09 46.68 46.68 Gross Margin %
4,437 4,631 5,066 5,015 5,245 4,907 5,479 6,170 6,102 6,384 6,469 6,229 6,311 6,626 7,602 7,029 7,029 Selling, General, & Admin. Expense
1,246 1,274 1,522 1,368 1,404 1,293 1,434 1,570 1,634 1,715 1,770 1,763 1,764 1,870 1,821 1,911 1,911 Research & Development
4,326 4,854 4,622 5,344 5,241 4,814 5,918 6,178 6,483 6,666 7,135 6,899 6,916 7,106 6,660 6,060 6,060 Operating Income
21.62 22.93 20.16 21.85 20.74 20.82 22.20 20.86 21.68 21.59 22.42 22.79 22.97 22.45 20.33 18.86 18.86 Operating Margin %
46.00 56.00 51.00 132 105 37.00 38.00 39.00 39.00 41.00 33.00 26.00 29.00 50.00 70.00 80.00 80.00 Interest Income
-69.00 -82.00 -122 -210 -215 -219 -201 -186 -171 -145 -142 -149 -199 -322 -350 -448 -448 Interest Expense
-23.00 -26.00 -71.00 -78.00 -110 -182 -163 -147 -132 -104 -109 -123 -170 -272 -280 -368 -368 Net Interest Income
-- -- 1,074 849 -23.00 -- -- -- -- -- -- 47.00 307 714 620 20.00 20.00 Other Income (Expense)
-62.00 -55.00 -51.00 -55.00 -60.00 -51.00 -78.00 -74.00 -67.00 -62.00 -42.00 -8.00 -8.00 -11.00 -14.00 -12.00 -12.00 Other Income (Minority Interest)
4,303 4,828 5,625 6,115 5,108 4,632 5,755 6,031 6,351 6,562 7,026 6,823 7,053 7,548 7,000 5,712 5,712 Pre-Tax Income
-1,400 -1,627 -1,723 -1,964 -1,588 -1,388 -1,592 -1,674 -1,840 -1,841 -2,028 -1,982 -1,995 -2,679 -1,637 -1,130 -1,130 Tax Provision
32.54 33.70 30.63 32.12 31.09 29.97 27.66 27.76 28.97 28.06 28.86 29.05 28.29 35.49 23.39 19.78 19.78 Tax Rate %
2,903 3,201 3,902 4,151 3,520 3,244 4,163 4,357 4,511 4,721 4,998 4,841 5,058 4,869 5,363 4,582 4,582 Net Income (Continuing Operations)
2,841 3,111 3,851 4,096 3,460 3,193 4,085 4,283 4,444 4,659 4,956 4,833 5,050 4,858 5,349 4,570 4,570 Net Income
14.20 14.70 16.80 16.74 13.69 13.81 15.32 14.46 14.86 15.09 15.57 15.96 16.77 15.35 16.33 14.22 14.22 Net Margin %
3.64 4.07 5.15 5.70 4.95 4.56 5.72 6.05 6.40 6.83 7.63 7.72 8.35 8.13 9.09 7.92 7.92 EPS (Basic)
3.56 3.98 5.06 5.60 4.89 4.52 5.63 5.96 6.32 6.72 7.49 7.58 8.16 7.93 8.89 7.81 7.81 EPS (Diluted)
797 781 761 732 707 707 726 719 703 694 662 637 619 613 602 585 583 Shares Outstanding (Diluted
Average)
999 986 1,079 1,072 1,153 1,157 1,120 1,236 1,288 1,371 1,408 1,435 1,474 1,544 1,488 1,593 1,593 Depreciation, Depletion and
Amortization
5,371 5,896 6,826 7,397 6,476 6,008 7,076 7,453 7,810 8,078 8,576 8,407 8,726 9,414 8,838 7,753 7,753 EBITDA
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,757 1,072 1,447 1,896 1,849 3,040 3,377 2,219 2,883 2,581 1,897 1,798 2,398 3,053 2,853 2,353 2,353 Cash And Cash Equivalents
-- -- 471 579 373 744 1,101 1,461 1,648 756 1,439 118 280 1,076 380 98.00 98.00 Marketable Securities
2,757 1,072 1,918 2,475 2,222 3,784 4,478 3,680 4,531 3,337 3,336 1,916 2,678 4,129 3,233 2,451 2,451 Cash, Cash Equivalents, Marketable
Securities
2,792 2,838 3,102 3,362 3,195 3,250 3,615 3,867 4,061 4,253 4,238 4,154 4,392 4,911 5,020 4,791 4,791 Accounts Receivable
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MMM 3/7
336 406 571 623 657 569 729 819 897 935 902 855 717 901 954 937 937 Inventories, Raw Materials &
Components
614 706 795 880 851 815 950 1,061 1,186 1,139 1,081 1,008 1,039 1,218 1,292 1,194 1,194 Inventories, Work In Process
947 1,050 1,235 1,349 1,505 1,255 1,476 1,536 1,754 1,790 1,723 1,655 1,629 1,915 2,120 2,003 2,003 Inventories, Finished Goods
1,897 2,162 2,601 2,852 3,013 2,639 3,155 3,416 3,837 3,864 3,706 3,518 3,385 4,034 4,366 4,134 4,134 Total Inventories
731 760 1,070 929 1,038 1,012 875 1,168 1,076 1,180 946 1,292 1,162 1,132 987 1,423 1,423 Other Current Assets
8,720 7,115 8,946 9,838 9,598 10,795 12,215 12,240 13,630 12,733 12,303 10,986 11,726 14,277 13,709 12,971 12,971 Total Current Assets
227 272 480 778 463 928 686 1,051 1,325 1,575 117 126 128 150 188 196 196 Investments And Advances
279 256 281 303 281 291 358 377 413 411 368 354 341 348 340 351 351 Land And Improvements
4,619 4,717 5,002 5,496 5,787 6,069 6,321 6,587 6,975 7,062 6,943 7,120 7,252 7,681 7,564 7,877 7,877 Buildings And Improvements
10,876 10,730 11,130 11,801 11,742 12,296 12,769 13,240 14,190 14,665 14,684 14,743 14,935 15,907 15,776 16,586 16,586 Machinery, Furniture, Equipment
415 331 505 684 903 627 656 814 791 772 679 723 809 843 1,193 1,310 1,310 Construction In Progress
16,290 16,127 17,017 18,390 18,812 19,440 20,253 21,166 22,525 23,068 22,841 23,098 23,499 24,914 24,873 26,982 26,982 Gross Property, Plant and Equipment
-10,579 -10,534 -11,110 -11,808 -11,926 -12,440 -12,974 -13,500 -14,147 -14,416 -14,352 -14,583 -14,983 -16,048 -16,135 -16,791 -16,791 Accumulated Depreciation
5,711 5,593 5,907 6,582 6,886 7,000 7,279 7,666 8,378 8,652 8,489 8,515 8,516 8,866 8,738 10,191 10,191 Property, Plant and Equipment
2,932 4,016 4,790 5,390 7,151 7,174 8,640 8,963 9,310 9,033 8,485 11,850 11,486 13,449 12,708 19,823 19,823 Intangible Assets
2,655 3,530 4,082 4,589 5,753 5,832 6,820 7,047 7,385 7,345 7,050 9,249 9,166 10,513 10,051 13,444 13,444 Goodwill
3,118 3,545 1,171 2,106 1,695 1,353 1,336 1,696 1,233 1,557 1,815 1,406 1,050 1,245 1,157 1,478 1,478 Other Long Term Assets
20,708 20,541 21,294 24,694 25,793 27,250 30,156 31,616 33,876 33,550 31,209 32,883 32,906 37,987 36,500 44,659 44,659 Total Assets
1,168 1,256 1,402 1,505 1,301 1,453 1,662 2,159 2,278 2,346 2,340 2,260 1,798 1,945 2,266 2,228 2,228 Accounts Payable
1,041 1,152 1,310 712 491 450 554 449 458 505 525 421 547 587 516 441 441 Total Tax Payable
2,568 2,863 3,268 2,675 2,220 2,367 2,692 3,284 3,437 4,126 4,245 3,325 3,481 3,918 4,089 3,965 3,965 Accounts Payable & Accrued
Expense
2,094 1,072 2,506 901 1,552 613 1,269 682 1,085 1,683 106 2,044 972 1,853 1,211 3,042 3,042 Current Portion of Long-Term Debt
226 237 299 323 322 316 369 389 471 521 541 518 551 513 617 430 430 Current Deferred Revenue
18.00 9.00 7.00 22.00 19.00 27.00 26.00 23.00 45.00 37.00 -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
244 246 306 345 341 343 395 412 516 558 541 518 551 513 617 430 430 DeferredTaxAndRevenue
1,165 1,057 1,243 1,441 1,726 1,574 1,733 1,063 1,162 1,131 1,072 1,231 1,215 1,403 1,327 1,785 1,785 Other Current Liabilities
6,071 5,238 7,323 5,362 5,839 4,897 6,089 5,441 6,200 7,498 5,964 7,118 6,219 7,687 7,244 9,222 9,222 Total Current Liabilities
727 1,309 1,047 4,019 5,166 5,097 4,183 4,484 4,916 4,326 6,705 8,753 10,678 12,096 13,411 17,518 17,518 Long-Term Debt
71.00 59.00 65.00 69.00 58.00 107 94.00 79.00 71.00 58.00 59.00 46.00 45.00 60.00 75.00 718 718 Capital Lease Obligation
798 1,368 1,112 4,088 5,224 5,204 4,277 4,563 4,987 4,384 6,764 8,799 10,723 12,156 13,486 18,236 18,236 Long-Term Debt & Capital Lease
Obligation
0.28 0.24 0.36 0.43 0.69 0.46 0.35 0.34 0.35 0.35 0.52 0.95 1.14 1.21 1.50 2.11 2.11 Debt to Equity
1,267 1,305 2,039 1,924 3,384 2,718 2,537 4,323 3,418 2,109 4,105 3,774 4,274 3,939 3,286 4,223 4,223 PensionAndRetirementBenefit
1,339 1,387 134 391 43.00 114 216 270 196 557 162 570 160 235 279 301 301 NonCurrent Deferred Liabilities
-- -- -- -- 424 538 354 442 465 446 33.00 39.00 45.00 59.00 52.00 63.00 63.00 Minority Interest
855 848 727 1,182 999 1,015 1,020 1,157 1,035 1,054 1,072 1,154 1,187 2,348 2,357 2,551 2,551 Other Long-Term Liabilities
10,330 10,146 11,335 12,947 15,489 13,948 14,139 15,754 15,836 15,602 18,067 21,415 22,563 26,365 26,652 34,533 34,533 Total Liabilities
9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 Common Stock
15,649 15,715 17,933 20,316 22,227 23,753 25,995 28,348 30,679 32,416 34,317 36,296 37,907 39,115 40,636 42,135 42,135 Retained Earnings
132 -411 -1,873 -747 -3,646 -3,754 -3,543 -5,025 -4,750 -3,913 -6,289 -6,359 -7,245 -7,026 -6,866 -8,139 -8,139 Accumulated other comprehensive
income (loss)
287 2,225 2,484 2,785 3,006 3,153 3,468 3,767 4,044 4,375 4,379 4,791 5,061 5,352 5,643 5,907 5,907 Additional Paid-In Capital
-5,503 -6,965 -8,456 -10,520 -11,676 -10,397 -10,266 -11,679 -12,407 -15,385 -19,307 -23,308 -25,434 -25,887 -29,626 -29,849 -29,849 Treasury Stock
10,378 10,395 9,959 11,747 9,880 12,764 15,663 15,420 17,575 17,502 13,109 11,429 10,298 11,563 9,796 10,063 10,063 Total Equity
0.50 0.51 0.47 0.48 0.38 0.47 0.52 0.49 0.52 0.52 0.42 0.35 0.31 0.30 0.27 0.23 0.23 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MMM 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,841 3,111 3,851 4,151 3,520 3,244 4,163 4,357 4,511 4,721 4,998 4,841 5,058 4,869 5,363 4,582 4,582 Net Income
2,841 3,111 3,851 4,151 3,520 3,244 4,163 4,357 4,511 4,721 4,998 4,841 5,058 4,869 5,363 4,582 4,582 Net Income From Continuing
Operations
999 986 1,079 1,072 1,153 1,157 1,120 1,236 1,288 1,371 1,408 1,435 1,474 1,544 1,488 1,593 1,593 Depreciation, Depletion and
Amortization
68.00 -62.00 -45.00 123 350 119 -140 -196 -133 -337 -268 -58.00 -313 -245 -305 345 345 Change In Receivables
7.00 -294 -309 -54.00 -127 453 -404 -196 -251 -86.00 -113 3.00 57.00 -387 -509 370 370 Change In Inventory
118 383 206 179 -367 -38.00 401 -128 162 222 281 -735 249 991 542 88.00 88.00 Change In Payables And Accrued
Expense
193 27.00 -148 248 -144 534 -143 -520 -222 -201 -100.00 -790 -7.00 359 -272 803 803 Change In Working Capital
243 132 -316 -217 99.00 701 -170 177 33.00 -167 -146 395 7.00 107 -57.00 -273 -273 Change In DeferredTax
252 155 200 228 202 217 274 253 223 240 280 276 298 324 302 278 278 Stock Based Compensation
-300 -207 -827 -1,236 -297 -912 -70.00 -219 -533 -147 186 263 -168 -963 -385 87.00 87.00 Cash Flow from Others
4,228 4,204 3,839 4,246 4,533 4,941 5,174 5,284 5,300 5,817 6,626 6,420 6,662 6,240 6,439 7,070 7,070 Cash Flow from Operations
-937 -943 -1,168 -1,422 -1,471 -903 -1,091 -1,379 -1,484 -1,665 -1,493 -1,461 -1,420 -1,373 -1,577 -1,699 -1,699 Purchase Of Property, Plant,
Equipment
69.00 41.00 49.00 103 87.00 74.00 25.00 55.00 41.00 128 135 33.00 58.00 49.00 262 123 123 Sale Of Property, Plant, Equipment
-73.00 -1,293 -888 -539 -1,394 -69.00 -1,830 -649 -1,046 -- -94.00 -2,914 -16.00 -2,023 -- -4,984 -704 Purchase Of Business
-- -- 1,209 897 88.00 5.00 -- -- -- 8.00 -- 123 142 1,065 859 236276 Sale Of Business
-10.00 -1,627 -3,253 -8,194 -2,211 -2,240 -3,287 -4,162 -5,492 -4,040 -1,280 -652 -1,410 -2,152 -1,828 -1,635 -1,635 Purchase Of Investment
13.00 1,573 2,591 7,788 2,502 1,401 3,560 3,417 5,281 4,667 2,034 1,952 1,247 1,354 2,497 1,443 1,443 Sale Of Investment
-- 8.00 -- -- -- -- -3.00 -- 14.00 46.00 102 102 -4.00 -6.00 9.00 72.00 -4,208 Cash From Other Investing Activities
-938 -2,241 -1,460 -1,367 -2,399 -1,732 -2,626 -2,718 -2,686 -856 -596 -2,817 -1,403 -3,086 222 -6,444 -6,444 Cash Flow from Investing
508 545 523 796 289 431 666 902 1,012 1,609 968 635 804 734 485
547 547 Issuance of Stock
-1,791 -2,377 -2,351 -3,239 -1,631 -17.00 -854 -2,701 -2,204 -5,212 -5,652 -5,238 -3,753 -2,068 -4,870 -1,407 -1,407 Repurchase of Stock
-111 -485 1,135 1,251 1,037 -1,014 -472 -307 722 -37.00 1,010 3,482 1,043 1,603 933 3,249 3,249 Net Issuance of Debt
-1,125 -1,286 -1,376 -1,380 -1,398 -1,431 -1,500 -1,555 -1,635 -1,730 -2,216 -2,561 -2,678 -2,803 -3,193 -3,316 -3,316 Cash Flow for Dividends
39.00 -22.00 8.00 54.00 -63.00 17.00 -24.00 -14.00 47.00 124 -713 34.00 -42.00 -121 -56.00 -197 -197 Other Financing
-2,480 -3,625 -2,061 -2,518 -1,766 -2,014 -2,184 -3,675 -2,058 -5,246 -6,603 -3,648 -4,626 -2,655 -6,701 -1,124 -1,124 Cash Flow from Financing
921 -1,685 375 449 -47.00 1,191 337 -1,158 664 -302 -684 -99.00 600 655 -200 -500 -500 Net Change in Cash
-937 -943 -1,168 -1,422 -1,471 -903 -1,091 -1,379 -1,484 -1,665 -1,493 -1,461 -1,420 -1,373 -1,577 -1,699 -1,699 Capital Expenditure
3,291 3,261 2,671 2,824 3,062 4,038 4,083 3,905 3,816 4,152 5,133 4,959 5,242 4,867 4,862 5,371 5,371 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MMM 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
23.05 19.47 15.40 15.06 11.74 18.29 15.33 13.71 14.71 20.87 21.94 19.87 21.88 29.72 21.41 22.59 19.59 PE Ratio(TTM)
18.74 17.79 15.79 14.23 11.46 13.04 16.36 14.08 14.60 21.04 22.08 20.84 21.35 26.13 21.83 19.35 16.78 Price to Owner Earnings
(TTM)
6.12 5.63 5.75 5.08 4.04 4.60 3.92 3.68 3.63 5.32 7.96 8.03 10.35 12.11 11.21 10.08 8.75 Price to Book
8.53 9.17 11.07 9.39 14.63 10.51 8.75 8.80 7.72 10.98 22.57 -- -- -- -- -- -- Price to Tangible Book
19.88 18.56 22.12 21.78 13.29 14.48 15.33 15.02 17.10 23.38 21.12 19.26 21.05 29.64 23.42 19.19 16.65 Price-to-Free-Cash-Flow
Ratio
15.48 14.40 15.40 14.50 8.97 11.84 12.10 11.10 12.31 16.68 16.36 14.88 16.57 23.11 17.71 14.58 12.65 Price-to-Operating-Cash-
Flow Ratio
3.27 2.86 2.59 2.52 1.61 2.53 2.35 1.98 2.18 3.15 3.42 3.17 3.67 4.56 3.50 3.21 2.79 PS Ratio
3.26 1.67 1.06 1.09 0.93 3.09 5.68 15.40 5.86 2.84 3.20 2.92 3.37 4.46 4.56 12.15 13.07 PEG Ratio
3.18 2.83 2.57 2.54 1.78 2.65 2.36 1.99 2.20 3.12 3.39 3.33 3.84 4.74 3.70 3.75 3.33 EV-to-Revenue
11.84 10.16 8.63 8.41 6.91 10.21 8.88 7.89 8.43 11.91 12.59 11.98 13.25 15.93 13.73 15.52 13.80 EV-to-EBITDA
14.55 12.20 10.25 9.83 8.40 12.64 10.56 9.46 10.09 14.34 15.06 14.45 15.94 19.05 16.51 19.54 17.36 EV-to-EBIT
6.87 8.20 9.76 10.17 11.90 7.91 9.47 10.57 9.91 6.97 6.64 6.92 6.27 5.25 6.06 5.12 5.76 Return on Capital %
10.64 16.04 19.30 18.41 19.62 11.16 8.04 7.00 8.27 11.31 10.48 11.10 10.46 9.89 8.93 6.63 7.36 Forward Rate of Return
33.42 27.86 24.78 24.03 15.16 20.35 19.54 16.68 17.52 24.68 27.46 23.86 26.86 33.76 25.66 22.57 19.57 Shiller PE Ratio
1.75 2.17 2.36 2.28 3.48 2.47 2.43 2.69 2.54 1.81 2.08 2.72 2.49 2.00 2.86 3.26 3.78 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
63,483 58,512 57,229 59,670 39,921 58,745 61,444 56,800 63,796 93,027 104,365 91,789 106,557 140,018 109,861 101,474 88,078 Market Cap
63,618 59,880 58,929 62,184 44,899 61,316 62,866 58,807 65,802 96,203 107,932 100,755 115,619 149,957 121,377 120,364 106,968 Enterprise Value
82.07 77.50 77.93 84.32 57.54 82.67 86.30 81.73 92.85 140 164 151 179 235 191 176 153 Month End Stock Price
-9.79 -12.02 -12.82 -14.80 -19.73 -15.06 -14.07 -18.01 -17.13 -19.16 -23.25 -32.06 -33.40 -37.48 -40.71 -55.89 -55.89 Net Cash (per share)
-2.08 -4.01 -3.25 -4.39 -9.10 -5.19 -3.20 -5.69 -3.89 -5.00 -9.13 -17.18 -18.24 -20.42 -22.54 -37.60 -37.60 Net Current Asset Value
(per share)
-5.86 -7.77 -7.88 -9.22 -14.11 -9.77 -8.04 -11.38 -9.91 -11.44 -15.32 -24.06 -25.04 -27.90 -30.39 -46.05 -46.05 Net-Net Working Capital
(per share)
41.59 49.39 62.78 70.70 68.95 63.25 63.79 65.53 72.32 82.14 92.91 88.90 87.70 92.07 94.16 96.69 96.69 Projected FCF (per share)
64.55 72.95 82.82 92.83 99.12 90.75 102 111 108 112 121 120 123 132 161 171 171 Median PS (per share)
25.17 46.45 73.77 77.11 61.64 26.71 -- -- 32.12 49.39 51.31 51.54 52.96 52.83 -- -- -- Peter Lynch Fair Value (per
share)
27.77 27.51 28.31 33.64 20.80 28.29 35.35 35.30 41.36 43.94 35.03 -- -- -- -- -- -- Graham Number (per share)
31.02 34.53 41.02 44.94 45.47 49.92 53.88 59.05 63.19 67.45 73.96 69.66 72.20 71.62 73.43 61.50 61.50 Earnings Power Value
(EPV)
6.55 6.45 6.25 5.94 4.57 5.44 5.59 5.26 5.47 6.70 7.03 5.88 6.29 6.35 5.81 4.36 4.13 Altman Z-Score
7.00 5.00 6.00 7.00 4.00 5.00 6.00 7.00 5.00 6.00 8.00 7.00 6.00 5.00 5.00 5.00 5.00 Piotroski F-Score
-2.63 -2.61 -2.54 -2.51 -2.72 -2.73 -2.51 -2.51 -2.59 -2.62 -2.82 -2.71 -2.75 -2.63 -2.73 -2.67 -2.67 Beneish M-Score
0.60 0.57 0.57 0.67 0.60 0.60 0.63 0.58 0.62 0.61 0.50 0.65 0.59 0.65 0.56 0.79 0.68 Scaled Net Operating
Assets
-2.17 5.59 6.91 4.93 5.14 -0.06 5.10 5.43 5.40 -0.90 -3.44 3.74 -0.64 4.49 -3.59 8.83 8.83 Sloan Ratio (%)
1.44 1.36 1.22 1.83 1.64 2.20 2.01 2.25 2.20 1.70 2.06 1.54 1.89 1.86 1.89 1.41 1.41 Current Ratio
1.12 0.95 0.87 1.30 1.13 1.67 1.49 1.62 1.58 1.18 1.44 1.05 1.34 1.33 1.29 0.96 0.96 Quick Ratio
90.01 86.80 88.13 95.85 84.32 84.13 90.90 97.97 95.37 140 167 171 181 241 259 220 220 Highest Stock Price
74.87 70.07 68.11 73.01 53.50 41.83 74.74 70.93 81.73 92.85 124 138 137 174 179 151 146 Lowest Stock Price
1.35 2.40 2.73 3.64 1.96 -2.42 -0.19 2.39 1.13 3.46 4.25 4.06 2.07 0.31 3.08 0.24 0.24 Shares Buyback Ratio (%)
9.48 7.94 11.18 10.94 6.92 -8.43 12.32 12.07 3.24 4.68 8.00 -1.16 2.43 6.17 5.34 0.91 0.93 YoY Rev. per Sh. Growth
(%)
17.88 11.80 27.14 10.67 -12.68 -7.57 24.56 5.86 6.04 6.33 11.46 1.20 7.65 -2.82 12.11 -12.15 -12.25 YoY EPS Growth (%)
13.86 12.02 18.87 12.65 -9.38 -7.16 14.73 6.29 7.13 4.87 11.24 1.84 6.90 8.94 -4.45 -9.74 -9.83 YoY EBITDA Growth (%)
7.07 11.67 14.58 13.77 12.58 5.91 2.70 0.89 2.51 7.35 6.85 6.80 6.49 6.67 4.70 1.86 1.50 EBITDA 5-Y Growth (%)
781 765 748 718 699 701 714 709 694 682 649 626 605 598 589 577 576 Shares Outstanding (Basic
Average)
774 755 734 708 694 711 712 695 687 663 635 609 597 595 577 575 575 Shares Outstanding (EOP)
0.56 0.63 0.71 0.75 0.43 0.80 0.82 1.12 1.01 1.17 1.20 1.20 1.01 0.94 1.13 1.25 1.24 Beta
02/24/05 02/21/06 02/26/07 02/15/08 02/17/09 02/16/10 02/16/11 02/16/12 02/14/13 02/13/14 02/12/15 02/11/16 02/09/17 02/08/18 02/07/19 02/06/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MMM 6/7
02/26/07 02/15/08 02/17/09 02/16/10 02/16/11 02/16/11 02/14/13 02/13/14 02/12/15 02/11/16 02/09/17 02/08/18 02/07/19 02/06/20 02/06/20 02/06/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MMM 7/7
Cerner Corp (NAS:CERN) 03/02/2020 4:00PM EST GuruFocus
Price: $ 72.55 +3.28(+4.74%) Market Cap: $ 22.63 B Enterprise Value: $23.13 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 43.97
Cash to Debt 0.52 Operating margin (%) 10.55
Forward P/E N/A
Equity to Asset 0.63 Net-margin (%) 9.30
PE(NRI) 43.97
Interest Coverage N/A ROE (%) 11.26
F-Score:
P/B 5.28
ROA (%) 7.60
5 P/S 4.09
Z-Score: ROC (Joel Greenblatt) (%) 26.73
7.80 PFCF 43.39
Revenue Growth (3Y)(%) 8.30
M-Score: POCF 17.70
-3.18 EBITDA Growth (3Y)(%) 0.60
EV-to-EBIT 34.57
WACC vs 6.43% EPS Growth (3Y)(%) -3.70
ROIC 10.25% PEG 6.47
WACC
ROIC Shiller P/E 45.64
Current Ratio 2.04
Quick Ratio 2.02
Days Inventory 8.09
Days Sales Outstanding 73.07
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Cerner is a leading supplier of health care information technology solutions and tech-enabled services. The company
Price: Close to 10-year high
offers a wide range of intelligent solutions and tech-enabled services that support the clinical, financial, and
2016 1,138 1,216 1,185 1,258 4,796 operational needs of healthcare organizations of varying sizes. The company employs 29,000 associates and has an
PS Ratio: Close to 2-year high installed base of more than 27,500 facilities worldwide, including 70 of the top 100 health systems, physician
2017 1,260 1,292 1,276 1,314 5,142
practices, laboratories, ambulatory centers, behavioral health centers, cardiac facilities, radiology clinics, surgery
Insider Sell: Insider Selling 2018 1,293 1,368 1,340 1,366 5,366 centers, extended care facilities, retail pharmacies, and employer sites. The company is guided by the mission of the
2019 1,390 1,431 1,429 1,442 5,693 founding partners to provide seamless medical records across all healthcare providers to improve outcomes.... (Read
More)
2020
Good Signs Competitors: NYSE:VEEV, TSE:2413 , HKSE:01833 , NYSE:TDOC, NAS:TXG, NAS:HQY, NAS:MDSO,
Quarterly Earnings per Share SZSE:300253, NAS:OMCL, XTER:COP, NAS:INOV, NAS:SDGR, NAS:ONEM, SZSE:300451, NAS:PGNY, NAS:PINC,
Revenue per Share: NAS:HMSY, NAS:CHNG, TSE:2175, NAS:RCM
Consistent growth Mar Jun Sep Dec Full Year
2016 0.43 0.48 0.49 0.44 1.84 Insider Trades
Dividend Yield %: Close to 1- 2017 0.52 0.53 0.52 1.00 2.57
year high 2018 0.48 0.51 0.51 0.40 1.90
2019 0.51 0.39 0.26 0.49 1.65
DCF 2020
EPS without NRI: $1.65 Quarterly Dividends Per Share
Growth Rate in the next 10 Mar Jun Sep Dec Full Year
years: 13.30% 2016 0.00 0.00 0.00 0.00 0.00
Terminal Growth Rate for 10 2017 0.00 0.00 0.00 0.00 0.00
years: 4% 2018 0.00 0.00 0.00 0.00 0.00
Fair Value: $30.19 2019 0.00 0.18 0.18 0.18 0.54
2020
Reverse DCF Growth Rate
Expected eps Growth Rate: Annual Rates(per share) 10-Y 5-Y 12-M
26.58%
Revenue Growth (%) 14.60 11.50 10.20
EBITDA Growth (%) 12.80 6.80 -2.90
Free Cash Flow Growth (%) 14.70 13.20 -20.70
Book Value Growth (%) 11.90 7.20 -9.60
EPS Growth (%) 13.30 4.10 -12.70
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CERN 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1.55 1.86 4.20 4.57 5.02 4.98 5.42 6.34 7.59 8.26 9.71 12.61 13.96 15.21 16.09 17.72 17.72 Revenue per Share
0.34 0.42 0.89 1.07 1.39 1.46 1.65 1.98 2.32 2.43 3.08 3.55 4.15 4.60 4.35 4.22 4.23 EBITDA per Share
0.19 0.24 0.51 0.61 0.88 0.90 1.08 1.37 1.69 1.68 2.22 2.26 2.69 2.89 2.43 2.08 2.09 EBIT per Share
0.11 0.14 0.34 0.38 0.57 0.58 0.70 0.88 1.13 1.13 1.50 1.54 1.85 2.57 1.89 1.65 1.65 Earnings per Share (diluted)
0.11 0.14 0.34 0.38 0.57 0.58 0.70 0.88 1.13 1.13 1.50 1.54 1.85 2.57 1.89 1.65 1.65 eps without NRI
0.20 0.22 0.38 0.40 0.38 0.47 0.71 0.94 1.34 1.05 1.32 1.63 1.94 1.89 2.24 1.76 1.76 Owner Earnings per Share (TTM)
0.19 0.21 0.12 0.07 0.30 0.38 0.77 0.97 1.14 0.32 1.08 1.12 1.38 1.90 2.09 1.66 1.67 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.54 0.54 Dividends per Share
2.04 2.42 2.94 3.53 4.08 4.79 5.72 6.81 8.23 9.22 10.42 11.39 11.92 14.39 15.20 13.75 13.75 Book Value per Share
1.24 1.86 1.76 2.31 2.78 3.52 4.39 5.23 6.35 6.89 7.88 5.36 5.46 7.91 8.58 6.78 6.78 Tangible Book per Share
0.45 0.71 0.66 0.60 0.44 0.37 0.28 0.37 0.57 0.48 0.38 1.78 1.71 1.58 1.37 3.31 3.31 Total Debt per Share
6.65 11.46 11.38 14.10 9.61 20.61 23.69 30.63 38.76 55.74 64.66 60.17 47.37 67.39 52.44 73.39 72.55 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.84 12.70 13.06 12.37 15.44 13.38 13.61 14.55 15.44 13.28 15.61 14.51 16.32 19.90 12.97 11.45 11.26 Return on Equity %
7.02 7.55 7.85 7.98 10.57 9.60 10.38 11.31 11.85 10.21 12.18 10.69 11.37 14.33 9.56 7.78 7.60 Return on Assets %
30.60 36.19 35.10 34.85 50.94 60.69 73.24 72.67 74.95 64.87 68.23 51.56 48.37 44.79 34.38 27.71 26.73 Return on Capital %
12.61 14.98 14.22 14.11 17.59 16.88 18.32 19.43 21.14 17.55 21.90 17.29 15.59 19.93 13.39 10.33 10.25 Return on Invested Capital %
5.44 4.30 13.07 9.21 7.49 9.77 9.46 5.78 4.99 4.77 8.09 8.94 7.11 7.65 8.28 7.30 6.43 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 6.33 6.48 6.48 4.87 3.14 2.34 2.70 3.21 0.77 1.47 1.65 1.95 -- Effective Interest Rate on Debt %
78.80 78.06 78.89 81.57 82.34 83.18 82.69 79.95 77.18 82.32 82.24 83.03 83.76 83.39 82.53 81.19 81.19 Gross Margin %
12.03 12.65 12.06 13.43 16.64 17.47 19.42 20.87 21.45 19.79 22.43 17.65 18.99 18.68 14.44 10.55 10.55 Operating Margin %
6.98 7.43 7.97 8.36 11.26 11.57 12.82 13.92 14.90 13.69 15.44 12.19 13.27 16.86 11.74 9.30 9.30 Net Margin %
12.07 11.05 2.89 1.59 5.93 7.52 14.18 15.34 15.08 3.83 11.14 8.85 9.88 12.48 12.98 9.35 9.35 FCF Margin %
0.22 0.29 0.23 0.17 0.11 0.08 0.05 0.06 0.07 0.05 0.04 0.16 0.14 0.11 0.09 0.24 0.24 Debt to Equity
0.61 0.58 0.62 0.67 0.70 0.74 0.79 0.77 0.77 0.77 0.79 0.70 0.70 0.74 0.74 0.63 0.63 Total Equity to Total Asset
0.13 0.17 0.14 0.11 0.08 0.06 0.04 0.04 0.05 0.04 0.03 0.11 0.10 0.08 0.07 0.15 0.15 Total Debt to Total Asset
79.28 79.28 77.65 77.82 77.29 69.02 66.93 64.96 61.37 61.41 64.86 72.82 71.79 70.88 67.22 67.95 66.37 Gross Profit to Total Asset %
1.01 1.02 0.98 0.95 0.94 0.83 0.81 0.81 0.80 0.75 0.79 0.88 0.86 0.85 0.81 0.84 0.82 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.33 0.33 Dividend Payout Ratio
111 99.67 95.73 93.91 -- -- -- 91.82 75.06 68.60 66.04 82.06 69.69 73.12 79.75 73.07 73.07 Days Sales Outstanding
68.80 93.69 100 104 115 47.89 74.10 70.69 84.75 103 96.80 105 112 93.59 114 93.19 93.19 Days Accounts Payable
18.41 12.15 17.35 18.78 12.85 13.85 12.69 14.19 14.10 19.85 16.94 9.62 7.15 6.51 7.94 8.21 8.09 Days Inventory
60.80 18.13 13.06 8.69 -103 -34.04 -61.41 35.32 4.41 -14.39 -13.82 -13.09 -34.72 -13.96 -26.61 -11.91 -12.03 Cash Conversion Cycle
19.83 30.04 21.03 19.43 28.41 26.36 28.76 25.73 25.89 18.39 21.55 37.94 51.04 56.03 45.97 44.43 45.14 Inventory Turnover
0.21 0.22 0.21 0.18 0.18 0.17 0.17 0.20 0.23 0.18 0.18 0.17 0.16 0.17 0.17 0.19 0.19 COGS to Revenue
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CERN 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
926 1,161 1,378 1,520 1,676 1,672 1,850 2,203 2,665 2,911 3,403 4,425 4,796 5,142 5,366 5,693 5,693 Revenue
196 255 291 280 296 281 320 442 608 515 604 751 779 854 937 1,071 1,071 Cost of Goods Sold
730 906 1,087 1,240 1,380 1,391 1,530 1,761 2,057 2,396 2,798 3,674 4,017 4,288 4,429 4,622 4,622 Gross Profit
78.80 78.06 78.89 81.57 82.34 83.18 82.69 79.95 77.18 82.32 82.24 83.03 83.76 83.39 82.53 81.19 81.19 Gross Margin %
447 548 674 765 829 828 898 1,015 1,184 1,468 1,629 2,262 2,464 2,632 2,883 3,196 3,196 Selling, General, & Admin. Expense
172 211 247 271 273 271 273 287 301 339 393 540 551 605 684 737 737 Research & Development
0.00 -0.00 -0.00 0.00 -0.00 -- -0.00 0.00 -- 12.79 13.48 91.53 90.55 90.58 87.36 87.82 87.82 Other Operating Expense
111 147 166 204 279 292 359 460 572 576 763 781 911 960 775 601 601 Operating Income
12.03 12.65 12.06 13.43 16.64 17.47 19.42 20.87 21.45 19.79 22.43 17.65 18.99 18.68 14.44 10.55 10.55 Operating Margin %
-- -- -- -- 13.60 8.80 10.35 15.19 16.54 15.31 16.34 11.99 15.25 18.93 34.21 38.23 -- Interest Income
-- -- -- -- -10.55 -8.49 -6.91 -5.34 -5.07 -4.23 -3.99 -11.82 -4.48 -8.01 -7.99 -14.47 -- Interest Expense
-- -- -- -- 3.06 0.31 3.44 9.85 11.48 11.09 12.35 0.17 10.77 10.92 26.22 23.76 -- Net Interest Income
-3.54 -11.57 1.38 -0.12 -0.51 0.37 -0.56 0.05 4.57 0.95 -1.26 0.07 -3.35 -4.26 -0.16 30.08 53.84 Other Income (Expense)
108 135 168 204 281 293 362 470 588 588 774 781 918 967 801 655 655 Pre-Tax Income
-43.27 -48.99 -57.65 -76.84 -92.77 -99.22 -125 -163 -190 -190 -249 -242 -282 -100 -171 -125 -125 Tax Provision
40.10 36.23 34.41 37.67 32.96 33.90 34.49 34.72 32.41 32.26 32.13 30.97 30.70 10.36 21.33 19.11 19.11 Tax Rate %
64.65 86.25 110 127 189 193 237 307 397 398 525 539 636 867 630 529 529 Net Income (Continuing Operations)
64.65 86.25 110 127 189 193 237 307 397 398 525 539 636 867 630 529 529 Net Income
6.98 7.43 7.97 8.36 11.26 11.57 12.82 13.92 14.90 13.69 15.44 12.19 13.27 16.86 11.74 9.30 9.30 Net Margin %
0.11 0.15 0.35 0.40 0.59 0.60 0.72 0.91 1.16 1.16 1.54 1.57 1.88 2.62 1.91 1.66 1.66 EPS (Basic)
0.11 0.14 0.34 0.38 0.57 0.58 0.70 0.88 1.13 1.13 1.50 1.54 1.85 2.57 1.89 1.65 1.65 EPS (Diluted)
599 623 328 332 334 336 342 348 351 352 350 351 344 338 334 321 315 Shares Outstanding (Diluted
Average)
90.80 114 125 153 170 190 193 213 223 264 302 452 504 581 643 688 688 Depreciation, Depletion and
Amortization
202 261 291 357 462 491 562 688 815 856 1,081 1,245 1,427 1,556 1,451 1,357 1,357 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CERN 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
190 113 163 183 270 242 215 243 317 202 635 402 171 371 374 442 442 Cash And Cash Equivalents
-- 161 146 162 38.40 317 357 532 720 677 786 111 186 435 401 99.93 99.93 Marketable Securities
190 274 309 345 309 559 571 775 1,037 879 1,421 513 356 806 775 542 542 Cash, Cash Equivalents, Marketable
Securities
282 317 361 391 -- -- -- 554 548 547 616 995 916 1,030 1,173 1,140 1,140 Accounts Receivable
7.37 9.59 18.08 10.74 10.10 11.24 11.04 23.30 23.68 32.30 23.79 15.79 14.74 15.75 25.03 23.18 23.18 Inventories, Other
7.37 9.59 18.08 10.74 10.10 11.24 11.04 23.30 23.68 32.30 23.79 15.79 14.74 15.75 25.03 23.18 23.18 Total Inventories
30.12 50.79 62.74 72.25 70.96 115 87.11 141 152 267 231 265 303 516 335 392 392 Other Current Assets
509 652 751 819 859 1,146 1,146 1,502 1,791 1,762 2,349 1,828 1,619 2,380 2,319 2,097 2,097 Total Current Assets
-- -- -- -- 105 -- 264 359 509 555 231 173 109 197 300 419 419 Investments And Advances
95.03 126 -- 176 178 204 195 207 282 411 440 743 962 1,052 1,239 1,375 1,375 Land And Improvements
61.19 69.63 95.43 124 -- -- -- -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
264 307 517 496 592 660 725 809 885 1,040 1,238 1,368 1,471 1,640 1,820 1,989 1,989 Machinery, Furniture, Equipment
421 503 612 796 905 1,004 1,085 1,180 1,313 1,611 1,865 2,312 2,659 2,908 3,274 3,701 3,701 Gross Property, Plant and Equipment
-190 -211 -254 -333 -422 -495 -586 -691 -743 -818 -941 -1,003 -1,106 -1,305 -1,530 -1,720 -1,720 Accumulated Depreciation
230 293 358 463 483 509 499 489 570 793 924 1,309 1,553 1,603 1,744 1,982 1,982 Property, Plant and Equipment
235 177 371 391 417 418 445 536 647 799 867 2,050 2,129 2,155 2,147 2,187 2,187 Intangible Assets
-- 116 129 144 147 151 161 212 248 307 321 799 844 853 848 883 883 Goodwill
7.30 183 16.43 17.39 16.01 74.59 68.74 114 188 190 159 202 219 134 199 209 209 Other Long Term Assets
982 1,304 1,496 1,690 1,881 2,149 2,423 3,000 3,704 4,098 4,531 5,562 5,630 6,469 6,709 6,895 6,895 Total Assets
37.01 65.38 79.74 79.81 93.67 36.89 65.04 85.55 141 145 160 216 238 219 294 273 273 Accounts Payable
99.46 151 198 175 204 196 172 246 331 377 357 458 507 467 489 519 519 Accounts Payable & Accrued
Expense
21.91 28.74 20.24 14.26 30.12 25.01 24.84 39.72 59.58 54.11 67.46 41.80 26.20 11.59 4.91 -- -- Current Portion of Long-Term Debt
77.45 79.89 93.70 98.80 108 137 109 153 190 210 210 278 312 311 399 360 360 Current Deferred Revenue
0.43 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
77.88 79.89 93.70 98.80 108 137 109 153 190 210 210 278 312 311 399 360 360 DeferredTaxAndRevenue
-- -- -- -- 0.00 -- -- -- -- -- 0.00 -- -0.00 -- 69.12 148 148 Other Current Liabilities
199 260 312 288 341 358 306 439 580 640 634 778 845 790 963 1,027 1,027 Total Current Liabilities
109 194 187 178 111 95.51 67.92 86.82 137 112 62.87 563 538 515 439 1,038 1,038 Long-Term Debt
109 194 187 178 111 95.51 67.92 86.82 137 112 62.87 563 538 515 439 1,038 1,038 Long-Term Debt & Capital Lease
Obligation
0.22 0.29 0.23 0.17 0.11 0.08 0.05 0.06 0.07 0.05 0.04 0.16 0.14 0.11 0.09 0.24 0.24 Debt to Equity
69.86 72.92 58.73 68.74 116 114 144 164 154 179 267 350 319 336 336 378 378 NonCurrent Deferred Liabilities
1.17 1.29 1.29 1.29 1.29 0.12 0.12 0.12 -- -- -- -- -- -- -- -- -- Minority Interest
5.70 14.53 14.56 21.78 -0.00 -- 0.00 -- 0.00 0.00 -0.00 -- 0.00 42.79 42.38 134 134 Other Long-Term Liabilities
384 542 573 556 569 568 517 690 871 931 965 1,692 1,702 1,684 1,780 2,577 2,577 Total Liabilities
0.75 0.79 0.78 0.80 0.81 0.83 0.84 1.70 3.44 3.44 3.47 3.50 3.54 3.59 3.62 3.68 3.68 Common Stock
344 430 544 671 860 1,054 1,291 1,597 1,995 2,393 2,918 3,458 4,094 4,939 5,577 5,935 5,935 Retained Earnings
8.77 4.37 0.60 8.31 -12.98 -3.25 -4.19 -11.97 -5.26 -13.43 -44.10 -76.35 -110 -73.38 -104 -119 -119 Accumulated other comprehensive
income (loss)
244 325 377 452 491 558 646 723 841 813 933 1,076 1,231 1,380 1,560 1,905 1,905 Additional Paid-In Capital
-- -- -- -- -28.00 -28.00 -28.00 -- -- -28.25 -245 -590 -1,291 -1,464 -2,108 -3,408 -3,408 Treasury Stock
597 761 922 1,132 1,311 1,581 1,905 2,311 2,834 3,168 3,566 3,870 3,928 4,785 4,928 4,317 4,317 Total Equity
0.61 0.58 0.62 0.67 0.70 0.74 0.79 0.77 0.77 0.77 0.79 0.70 0.70 0.74 0.74 0.63 0.63 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CERN 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
64.65 86.25 110 127 189 193 237 307 397 398 525 539 636 867 630 529 529 Net Income
64.65 86.25 110 127 189 193 237 307 397 398 525 539 636 867 630 529 529 Net Income From Continuing
Operations
90.80 114 125 153 170 190 193 213 223 264 302 452 504 581 643 688 688 Depreciation, Depletion and
Amortization
-24.75 -22.50 -38.92 -22.80 -108 -46.60 -17.37 -129 -83.71 -9.60 -74.79 -160 78.26 -32.84 -208 58.11 58.11 Change In Receivables
3.92 -2.08 -8.41 5.44 -2.54 0.29 0.19 -12.33 -0.28 -8.11 8.12 12.95 -0.67 -0.97 -9.31 1.86 1.86 Change In Inventory
-20.74 -18.78 -22.01 5.75 -11.74 -26.35 35.38 9.97 -2.22 -36.04 -14.63 -55.36 -66.66 -191 156 -76.75 -76.75 Change In Prepaid Assets
9.47 14.38 14.47 1.77 24.52 -2.89 -21.83 119 96.98 46.02 -70.01 106 29.41 -42.16 30.85 26.56 26.56 Change In Payables And Accrued
Expense
6.39 -1.24 -25.50 -16.58 -89.48 -47.42 -28.25 21.31 44.05 10.33 -147 -87.03 41.90 -270 51.51 -29.47 -29.47 Change In Working Capital
0.30 -6.87 2.50 -4.50 -2.52 -4.14 30.36 -22.11 8.34 -22.65 107 65.25 -11.52 47.41 34.43 51.13 51.13 Change In DeferredTax
-- -- -- -- 14.68 15.79 23.72 27.92 36.11 46.30 59.29 70.12 74.54 83.02 95.42 104 104 Stock Based Compensation
6.17 36.67 20.57 15.70 0.00 -0.00 0.00 -0.00 0.00 -0.00 0.00 0.00 -0.00 -0.00 0.00 -29.62 -29.62 Cash Flow from Others
168 229 233 275 282 347 456 546 708 696 847 1,040 1,246 1,308 1,454 1,313 1,313 Cash Flow from Operations
-56.49 -101 -193 -250 -108 -131 -102 -105 -306 -584 -468 -648 -772 -666 -757 -781 -781 Purchase Of Property, Plant,
Equipment
12.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -5.72 -3.53 -14.49 -65.34 -40.54 -67.88 -7.48 -1,478 -- -- -- -74.54 -- Purchase Of Business
-- -161 -- -496 -489 -267 -804 -1,083 -1,287 -1,107 -1,214 -488 -482 -632 -623 -365 -365 Purchase Of Investment
-- -- 29.12 482 506 97.48 491 792 932 1,071 1,405 1,208 464 292 552 580 580 Sale Of Investment
-- -- -- -- -74.30 -90.23 -10.78 -20.62 -22.87 -56.81 -13.52 -21.43 -18.47 -29.65 -36.82 -35.59 -35.59 Net Intangibles Purchase And Sale
-58.89 -182 -13.71 -24.06 0.00 -0.00 -80.98 -82.94 22.87 56.81 13.52 21.43 18.47 29.65 36.82 35.59 -38.95 Cash From Other Investing Activities
-103 -444 -178 -288 -171 -394 -521 -565 -702 -688 -285 -1,406 -790 -1,006 -829 -640 -640 Cash Flow from Investing
25.72 51.74 22.71 29.09 15.36 -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-0.75 -0.83 -- -- -28.00 -- -- -- -- -170 -217 -345 -700 -173 -623 -1,321 -1,321 Repurchase of Stock
-24.88 89.98 -30.78 -22.36 -15.32 -32.35 -27.63 -25.70 -17.08 -24.70 -14.93 486 -- -- -75.00 600 600 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -114 -- Cash Flow for Dividends
-- -- 7.20 30.36 31.67 49.12 62.47 74.55 83.12 75.35 112 3.23 23.60 62.45 88.34 233 119 Other Financing
0.09 141 -0.87 37.08 -11.65 16.77 34.84 48.85 66.03 -119 -120 144 -677 -111 -610 -601 -601 Cash Flow from Financing
67.95 -76.73 49.49 20.37 87.58 -28.77 -27.21 28.63 73.97 -115 433 -233 -231 200 3.20 67.72 67.72 Net Change in Cash
-56.49 -101 -193 -250 -182 -221 -194 -208 -306 -584 -468 -648 -772 -666 -757 -781 -781 Capital Expenditure
112 128 39.76 24.24 99.40 126 262 338 402 112 379 392 474 642 697 532 532 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CERN 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
61.86 83.35 33.97 37.11 17.01 35.84 33.96 34.81 34.30 49.33 43.11 38.82 25.74 26.22 27.60 44.48 43.97 PE Ratio(TTM)
32.92 52.09 30.35 34.99 25.29 43.48 33.46 32.55 28.90 52.88 48.84 36.98 24.46 35.58 23.44 41.63 41.15 Price to Owner Earnings
(TTM)
3.26 4.73 3.87 3.99 2.36 4.31 4.14 4.50 4.71 6.05 6.21 5.29 3.98 4.68 3.45 5.34 5.28 Price to Book
5.38 6.16 6.47 6.10 3.46 5.86 5.40 5.85 6.10 8.09 8.20 11.24 8.68 8.52 6.12 10.82 10.70 Price to Tangible Book
35.75 55.63 94.05 199 32.25 54.96 30.85 31.48 33.88 176 59.65 53.58 34.33 35.47 25.13 43.89 43.39 Price-to-Free-Cash-Flow
Ratio
23.67 31.23 16.05 17.09 11.39 19.91 17.75 19.48 19.23 28.21 26.74 20.26 13.07 17.41 12.03 17.91 17.70 Price-to-Operating-Cash-
Flow Ratio
4.30 6.17 2.71 3.08 1.91 4.14 4.38 4.83 5.11 6.74 6.66 4.77 3.39 4.43 3.26 4.14 4.09 PS Ratio
1.86 3.38 1.60 1.01 0.46 0.94 1.29 2.16 2.25 3.41 2.84 2.50 1.59 1.60 1.97 6.70 6.47 PEG Ratio
2.04 3.06 2.52 2.87 1.74 3.81 4.00 4.42 4.69 6.34 6.13 4.64 3.30 4.30 3.11 4.14 4.06 EV-to-Revenue
9.35 13.60 11.90 12.21 6.32 12.98 13.30 14.25 15.33 21.56 19.29 16.50 11.09 14.22 11.49 17.35 17.04 EV-to-EBITDA
16.97 24.17 20.87 21.33 10.01 21.15 20.36 20.67 21.09 31.15 26.79 25.90 17.14 22.69 20.62 35.20 34.57 EV-to-EBIT
5.89 4.14 4.79 4.69 9.99 4.73 4.91 4.84 4.74 3.21 3.73 3.86 5.83 4.41 4.85 2.84 2.89 Return on Capital %
21.44 20.96 21.04 21.02 21.87 21.05 21.39 17.71 16.98 15.72 16.47 17.07 18.33 18.06 16.72 8.83 8.86 Forward Rate of Return
95.82 145 101 93.49 48.19 78.27 81.03 74.79 74.66 88.68 84.67 66.23 44.27 51.29 35.83 46.16 45.64 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.74 0.74 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,949 3,599 3,568 4,520 3,088 6,807 7,888 10,388 13,340 19,162 22,135 20,455 15,615 22,405 17,007 23,052 22,631 Market Cap
1,891 3,549 3,469 4,369 2,922 6,368 7,410 9,739 12,500 18,448 20,845 20,547 15,822 22,125 16,675 23,548 23,128 Enterprise Value
6.65 11.46 11.38 14.10 9.61 20.61 23.69 30.63 38.76 55.74 64.66 60.17 47.37 67.39 52.44 73.39 72.55 Month End Stock Price
-0.67 -0.86 -0.85 -0.66 -0.81 -0.03 0.16 0.25 0.48 -0.15 1.33 -3.47 -4.08 -2.64 -3.10 -6.48 -6.48 Net Cash (per share)
0.43 0.35 0.56 0.81 0.90 1.75 1.89 2.40 2.67 2.42 4.04 0.40 -0.25 2.09 1.66 -1.53 -1.53 Net Current Asset Value
(per share)
0.07 -0.08 0.05 0.27 -0.80 -0.01 0.18 1.51 1.71 1.09 2.72 -1.25 -1.98 -0.29 -0.35 -3.72 -3.72 Net-Net Working Capital (per
share)
1.49 2.10 4.79 5.19 6.55 7.59 9.34 11.27 15.23 16.62 19.60 22.31 24.52 28.90 32.10 33.09 33.09 Projected FCF (per share)
5.08 6.11 14.20 15.20 16.52 16.68 18.51 21.68 28.69 33.94 45.77 61.48 66.32 73.28 77.50 85.29 85.29 Median PS (per share)
2.69 3.39 7.13 9.50 14.13 14.38 17.44 14.20 17.23 16.33 22.76 24.07 29.77 42.02 26.66 10.96 10.96 Peter Lynch Fair Value (per
share)
1.73 2.40 3.64 4.46 5.95 6.76 8.28 10.18 12.71 13.24 16.31 13.62 15.07 21.39 19.10 15.87 15.87 Graham Number (per share)
-3.52 1.22 2.58 2.80 3.79 4.92 5.74 7.78 10.13 9.43 12.74 10.27 10.85 15.46 18.82 17.40 17.40 Earnings Power Value
(EPV)
5.22 6.04 5.89 7.11 5.61 9.55 11.57 11.46 11.58 14.68 16.44 9.61 8.08 10.63 8.33 7.90 7.80 Altman Z-Score
8.00 5.00 6.00 8.00 7.00 6.00 6.00 5.00 4.00 6.00 8.00 6.00 6.00 8.00 5.00 5.00 5.00 Piotroski F-Score
-2.91 -2.82 -2.75 -2.80 -3.43 -2.87 -2.55 -2.70 -2.83 -2.83 -2.74 -2.39 -3.05 -2.68 -2.94 -3.18 -3.18 Beneish M-Score
0.63 0.72 0.63 0.66 0.68 0.61 0.66 0.69 0.66 0.66 0.56 0.88 0.74 0.80 0.71 0.72 0.69 Scaled Net Operating
Assets
-0.03 23.12 3.66 8.30 4.12 11.19 12.45 10.85 10.54 9.54 -0.82 16.28 3.21 8.74 0.07 -2.08 -2.08 Sloan Ratio (%)
2.56 2.51 2.41 2.84 2.52 3.20 3.75 3.42 3.09 2.75 3.70 2.35 1.92 3.01 2.41 2.04 2.04 Current Ratio
2.52 2.47 2.35 2.80 2.49 3.17 3.71 3.37 3.05 2.70 3.67 2.33 1.90 2.99 2.38 2.02 2.02 Quick Ratio
6.70 12.31 12.57 16.36 14.90 21.38 24.25 36.44 43.46 58.24 66.10 75.00 67.33 73.57 72.90 76.15 80.90 Highest Stock Price
4.67 5.94 8.50 11.17 7.90 8.43 18.21 23.59 29.89 38.76 49.43 56.55 47.37 47.37 48.90 50.70 54.22 Lowest Stock Price
-3.04 -7.15 0.16 -2.24 -0.22 -2.79 -0.82 -1.85 -1.49 0.12 0.42 0.69 3.03 -0.86 2.45 3.15 3.15 Shares Buyback Ratio (%)
-46.54 20.43 126 8.86 9.82 -0.78 8.67 17.01 19.71 8.94 17.52 29.86 10.67 9.01 5.74 10.16 10.08 YoY Rev. per Sh. Growth
(%)
-27.12 27.91 144 14.18 47.71 2.21 20.35 26.62 28.41 -- 32.74 2.67 20.13 38.92 -26.46 -12.70 -13.16 YoY EPS Growth (%)
-33.46 23.96 112 20.95 29.05 5.56 12.51 20.11 17.35 4.70 26.97 15.08 17.02 10.84 -5.47 -2.92 -2.87 YoY EBITDA Growth (%)
33.25 24.64 21.28 36.78 37.06 38.23 26.29 16.14 15.25 14.45 15.17 15.53 16.18 16.35 14.03 6.64 6.80 EBITDA 5-Y Growth (%)
575 593 312 318 322 324 330 337 342 344 342 343 338 331 330 318 312 Shares Outstanding (Basic
Average)
293 314 314 321 321 330 333 339 344 344 342 340 330 332 324 314 314 Shares Outstanding (EOP)
0.27 0.02 1.51 0.93 0.95 1.02 1.05 0.66 0.55 0.30 1.00 1.14 0.82 0.91 0.97 0.93 0.91 Beta
03/17/05 03/16/06 02/28/07 02/27/08 03/02/09 02/22/10 02/16/11 02/15/12 02/08/13 02/05/14 02/11/15 02/17/16 02/10/17 02/12/18 02/08/19 02/10/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CERN 6/7
03/16/06 03/16/06 02/27/08 02/27/08 02/22/10 02/16/11 02/08/13 02/05/14 02/11/15 02/17/16 02/10/17 02/12/18 02/08/19 02/10/20 02/10/20 02/10/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CERN 7/7
Fortune Brands Home & Security Inc (NYSE:FBHS) 03/02/2020 4:10PM EST GuruFocus
Price: $ 63.67 +1.92(+3.11%) Market Cap: $ 8.91 B Enterprise Value: $10.85 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 20.81
Cash to Debt 0.17 Operating margin (%) 12.54
Forward P/E N/A
Equity to Asset 0.39 Net-margin (%) 7.49
PE(NRI) 20.81
Interest Coverage 7.67 ROE (%) 18.73
F-Score:
P/B 3.64
ROA (%) 6.93
7 P/S 1.57
Z-Score: ROC (Joel Greenblatt) (%) 43.75
3.12 PFCF 17.75
Revenue Growth (3Y)(%) 8.90
M-Score: POCF 14.09
-2.50 EBITDA Growth (3Y)(%) 6.80
EV-to-EBIT 16.21
WACC vs 10.24% EPS Growth (3Y)(%) 5.40
ROIC 12.11% PEG 1.54
WACC
ROIC Shiller P/E 36.60
Current Ratio 1.35
Quick Ratio 0.84
Days Inventory 71.50
Days Sales Outstanding 39.56
Warning Signs Quarterly Revenues Company Description
Long-Term Debt: Issuing new Mar Jun Sep Dec Full Year Fortune Brands Home & Security is a leading home and security products company that operates four segments. The
company's $2.4 billion (fiscal 2019) cabinets segment sells cabinets and vanities under the MasterBrand family of
debt 2016 1,107 1,298 1,279 1,302 4,985 brands. The $2.0 billion plumbing segment, led by the Moen brand, sells faucets, showers, and other plumbing
2017 1,187 1,365 1,349 1,383 5,283 fixtures. The $1.4 billion doors and security segment sells entry doors under the Therma-Tru brand name and locks
Insider Sell: Insider Selling and other security devices under the Master Lock and SentrySafe brand names.... (Read More)
2018 1,255 1,429 1,381 1,421 5,485
Competitors: SHSE:603833 , SZSE:002032 , NYSE:WHR, NYSE:LEG, NYSE:MHK, LSE:HWDN, SHSE:603515 ,
2019 1,328 1,507 1,459 1,471 5,765 TSE:5947, NYSE:TPX, XPAR:SO, SHSE:603816, NYSE:SPB, SZSE:002572, SHSE:603486, SZSE:300616,
Good Signs 2020 SZSE:002242, XAMS:HDG, SZSE:000921, TPE:8464, NSE:CROMPTON
Piotroski F-Score: High Quarterly Earnings per Share Insider Trades
Revenue per Share: Mar Jun Sep Dec Full Year
Consistent growth 2016 0.38 0.80 0.78 0.67 2.63
2017 0.50 0.88 0.83 0.83 3.04
Operating Margin %: 2018 0.49 0.88 0.69 0.60 2.66
Expansion 2019 0.60 0.97 0.75 0.74 3.06
2020
DCF Quarterly Dividends Per Share
EPS without NRI: $3.06 Mar Jun Sep Dec Full Year
Growth Rate in the next 10 2016 0.16 0.16 0.16 0.16 0.64
years: 5% 2017 0.18 0.18 0.18 0.18 0.72
Terminal Growth Rate for 10 2018 0.20 0.20 0.20 0.20 0.80
years: 4% 2019 0.22 0.22 0.22 0.22 0.88
Fair Value: $32.75 2020
Growth Rate
Reverse DCF
Annual Rates(per share) 10-Y 5-Y 12-M
Expected eps Growth Rate:
Revenue Growth (%) 8.30 10.70 8.90
15.25%
EBITDA Growth (%) 20.70 13.30 11.90
Free Cash Flow Growth (%) 17.90 28.30 15.40
Book Value Growth (%) 0.00 3.30 12.50
EPS Growth (%) 0.00 13.10 15.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FBHS 1/7
Per Share Data
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- 19.39 20.85 21.45 18.87 21.62 24.14 28.09 31.59 33.91 37.47 40.80 40.81 Revenue per Share
-- -- -- -- -- 1.17 2.10 0.65 1.48 2.38 3.01 3.72 4.78 5.23 5.20 5.82 5.82 EBITDA per Share
-- -- -- -- -- 0.33 1.38 -0.07 0.87 1.86 2.42 3.02 4.00 4.39 4.18 4.74 4.74 EBIT per Share
-- -- -- -- -- -0.27 0.41 -0.23 0.71 1.34 0.95 1.93 2.62 3.03 2.66 3.06 3.06 Earnings per Share (diluted)
-- -- -- -- -- -0.27 0.41 -0.23 0.65 1.21 1.64 1.88 2.61 3.05 2.66 3.06 3.06 eps without NRI
-- -- -- -- -- -- -- -- -- -- 0.29 1.78 3.29 2.77 2.70 2.64 2.64 Owner Earnings per Share (TTM)
-- -- -- -- -- 1.46 0.52 0.69 1.25 1.17 0.83 1.85 3.18 2.79 3.10 3.58 3.59 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- 0.30 0.48 0.56 0.64 0.72 0.80 0.88 0.88 Dividends per Share
-- -- -- -- -- -1.05 -0.38 13.60 14.53 15.90 14.29 15.33 15.39 17.11 15.50 17.44 17.44 Book Value per Share
-- -- -- -- -- -15.06 -14.33 0.33 1.93 3.52 0.86 -1.88 -3.78 -3.13 -8.18 -5.98 -5.98 Tangible Book per Share
-- -- -- -- -- 0.16 0.13 2.63 1.99 2.14 4.24 7.31 9.33 9.92 16.61 16.70 16.70 Total Debt per Share
-- -- -- -- -- -- -- 17.03 29.22 45.70 45.27 55.50 53.46 68.44 37.99 65.34 63.67 Month End Stock Price
Ratios
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -3.45 5.27 9.13 6.44 13.37 17.17 19.05 16.31 18.76 18.73 Return on Equity %
-- -- -- -- -- -1.00 1.51 -0.90 3.16 5.71 3.84 7.06 8.26 8.88 6.79 7.05 6.93 Return on Assets %
-- -- -- -- -- 3.73 15.68 -1.03 18.20 39.26 44.82 48.60 61.17 64.39 51.36 48.51 43.75 Return on Capital %
-- -- -- -- -- -- -- 5.58 5.39 9.08 10.40 11.15 13.23 14.43 12.44 12.58 12.11 Return on Invested Capital %
-- -- -- -- -- -- -- -- -- 11.54 10.37 9.10 8.49 7.99 10.05 10.89 10.24 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 339 584 15.10 2.31 2.11 2.03 3.47 3.78 3.36 3.88 4.04 3.81 Effective Interest Rate on Debt %
-- -- -- -- -- 30.02 32.67 29.94 33.23 34.97 34.06 34.54 36.03 36.44 35.72 35.60 35.60 Gross Margin %
-- -- -- -- -- 2.37 6.38 2.45 5.14 9.37 10.23 11.20 12.97 13.36 12.55 12.54 12.54 Operating Margin %
-- -- -- -- -- -1.39 1.97 -1.07 3.79 6.20 3.94 6.88 8.29 8.95 7.10 7.49 7.49 Net Margin %
-- -- -- -- -- 7.52 2.49 3.21 6.63 5.43 3.46 6.57 10.05 8.24 8.28 8.77 8.77 FCF Margin %
-- -- -- -- -- -0.16 -0.34 0.19 0.14 0.13 0.30 0.48 0.61 0.58 1.07 0.96 0.96 Debt to Equity
-- -- -- -- -- -0.04 -0.01 0.58 0.62 0.63 0.56 0.50 0.46 0.47 0.37 0.39 0.39 Total Equity to Total Asset
-- -- -- -- -- 0.01 0.01 0.11 0.08 0.09 0.17 0.24 0.28 0.27 0.39 0.37 0.37 Total Debt to Total Asset
-- -- -- -- -- 21.53 25.00 25.24 27.73 32.17 33.21 35.43 35.91 36.18 34.15 33.49 32.92 Gross Profit to Total Asset %
-- -- -- -- -- 0.72 0.77 0.84 0.84 0.92 0.98 1.03 1.00 0.99 0.96 0.94 0.92 Asset Turnover
-- -- -- -- -- -- -- -- -- 0.25 0.29 0.30 0.25 0.24 0.30 0.29 0.29 Dividend Payout Ratio
-- -- -- -- -- 42.85 42.24 37.95 44.44 39.70 41.73 40.06 40.32 38.36 38.04 39.56 39.56 Days Sales Outstanding
-- -- -- -- -- 40.83 42.38 40.80 50.05 47.71 46.03 41.91 45.08 46.60 47.52 45.23 45.23 Days Accounts Payable
-- -- -- -- -- 51.64 52.87 52.38 60.46 59.57 61.44 61.97 62.19 60.42 65.21 68.70 71.50 Days Inventory
-- -- -- -- -- 53.66 52.73 49.53 54.85 51.56 57.14 60.12 57.43 52.18 55.73 63.03 65.83 Cash Conversion Cycle
-- -- -- -- -- 7.07 6.90 6.97 6.04 6.13 5.94 5.89 5.87 6.04 5.60 5.31 5.10 Inventory Turnover
-- -- -- -- -- 0.70 0.67 0.70 0.67 0.65 0.66 0.65 0.64 0.64 0.64 0.64 0.64 COGS to Revenue
-- -- -- -- -- 0.10 0.10 0.10 0.11 0.11 0.11 0.11 0.11 0.11 0.12 0.12 0.13 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FBHS 2/7
Income Statement
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- 3,007 3,234 3,329 3,135 3,704 4,014 4,579 4,985 5,283 5,485 5,765 5,765 Revenue
-- -- -- -- -- 2,104 2,177 2,332 2,093 2,409 2,647 2,998 3,189 3,358 3,526 3,712 3,712 Cost of Goods Sold
-- -- -- -- -- 903 1,056 997 1,042 1,295 1,367 1,582 1,796 1,925 1,959 2,052 2,052 Gross Profit
-- -- -- -- -- 30.02 32.67 29.94 33.23 34.97 34.06 34.54 36.03 36.44 35.72 35.60 35.60 Gross Margin %
-- -- -- -- -- 815 834 901 873 939 943 1,048 1,121 1,187 1,235 1,288 1,288 Selling, General, & Admin. Expense
-- -- -- -- -- 16.10 15.70 14.40 7.40 9.40 13.10 21.60 28.10 31.70 36.10 41.40 41.40 Other Operating Expense
-- -- -- -- -- 71.20 206 81.50 161 347 411 513 647 706 688 723 723 Operating Income
-- -- -- -- -- 2.37 6.38 2.45 5.14 9.37 10.23 11.20 12.97 13.36 12.55 12.54 12.54 Operating Margin %
-- -- -- -- -- -- 14.90 6.10 -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -- -- -85.20 -131 -32.50 -8.50 -7.20 -10.40 -31.90 -49.10 -49.40 -74.50 -94.20 -94.20 Interest Expense
-- -- -- -- -- -85.20 -116 -26.40 -8.50 -7.20 -10.40 -31.90 -49.10 -49.40 -74.50 -94.20 -94.20 Net Interest Income
-- -- -- -- -- -20.80 -7.00 -98.70 -17.40 -29.30 -8.20 -20.90 -15.50 -21.80 -76.90 -53.30 -53.30 Other Income (Expense)
-- -- -- -- -- -0.80 -1.20 -1.00 -1.00 -1.20 -1.20 -0.50 -- -0.10 -0.20 0.60 0.60 Other Income (Minority Interest)
-- -- -- -- -- -34.80 83.10 -43.60 135 311 392 460 582 635 537 575 575 Pre-Tax Income
-- -- -- -- -- -6.30 -18.10 9.00 -26.90 -102 -118 -153 -170 -160 -147 -144 -144 Tax Provision
-- -- -- -- -- -18.10 21.78 20.64 19.90 32.69 30.19 33.36 29.15 25.13 27.37 25.03 25.03 Tax Rate %
-- -- -- -- -- -41.10 65.00 -34.60 108 209 274 307 412 475 390 431 431 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -- 11.40 21.90 -114 9.00 0.80 -2.60 -0.20 -- -- Net Income (Discontinued
Operations)
-- -- -- -- -- -41.90 63.80 -35.60 119 230 158 315 413 473 390 432 432 Net Income
-- -- -- -- -- -1.39 1.97 -1.07 3.79 6.20 3.94 6.88 8.29 8.95 7.10 7.49 7.49 Net Margin %
-- -- -- -- -- -0.27 0.41 -0.23 0.74 1.39 0.98 1.97 2.68 3.08 2.69 3.09 3.09 EPS (Basic)
-- -- -- -- -- -0.27 0.41 -0.23 0.71 1.34 0.95 1.93 2.62 3.03 2.66 3.06 3.06 EPS (Diluted)
-- -- -- -- -- 155 155 155 166 171 166 163 158 156 146 141 141 Shares Outstanding (Diluted
Average)
-- -- -- -- -- 131 112 112 101 90.40 98.80 115 123 130 150 153 153 Depreciation, Depletion and
Amortization
-- -- -- -- -- 182 326 100 245 408 501 607 754 815 761 822 822 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FBHS 3/7
Balance Sheet
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- 57.80 60.70 121 336 241 192 239 252 323 263 388 388 Cash And Cash Equivalents
-- -- -- -- -- 57.80 60.70 121 336 241 192 239 252 323 263 388 388 Cash, Cash Equivalents, Marketable
Securities
-- -- -- -- -- 353 374 346 382 403 459 503 551 555 572 625 625 Accounts Receivable
-- -- -- -- -- 149 180 137 144 159 178 238 208 225 227 274 274 Inventories, Raw Materials &
Components
-- -- -- -- -- -- -- 39.90 38.60 49.90 54.00 60.20 55.90 58.30 66.40 72.20 72.20 Inventories, Work In Process
-- -- -- -- -- 148 153 159 174 220 230 258 268 298 385 372 372 Inventories, Finished Goods
-- -- -- -- -- -0.00 -- -- -0.00 -- -- -- -- -- -0.00 0.00 0.00 Inventories, Other
-- -- -- -- -- 298 333 336 357 429 462 556 531 581 679 719 719 Total Inventories
-- -- -- -- -- 661 700 150 153 254 186 121 112 143 173 167 167 Other Current Assets
-- -- -- -- -- 1,369 1,468 954 1,228 1,327 1,299 1,418 1,445 1,602 1,686 1,898 1,898 Total Current Assets
-- -- -- -- -- 53.90 53.80 48.90 47.60 46.70 48.50 56.20 57.00 58.70 66.80 66.30 66.30 Land And Improvements
-- -- -- -- -- 328 334 328 325 338 356 408 429 464 500 510 510 Buildings And Improvements
-- -- -- -- -- 1,037 1,041 1,058 1,056 883 920 1,006 1,080 1,168 1,249 1,316 1,316 Machinery, Furniture, Equipment
-- -- -- -- -- 25.30 32.10 42.10 62.80 52.20 71.30 82.30 64.50 90.10 95.80 89.80 89.80 Construction In Progress
-- -- -- -- -- 1,444 1,461 1,477 1,491 1,320 1,396 1,552 1,631 1,780 1,912 2,148 2,148 Gross Property, Plant and Equipment
-- -- -- -- -- -854 -911 -952 -982 -851 -857 -924 -968 -1,040 -1,098 -1,158 -1,158 Accumulated Depreciation
-- -- -- -- -- 590 550 526 509 468 540 628 663 740 813 990 990 Property, Plant and Equipment
-- -- -- -- -- 2,174 2,164 2,070 2,065 2,063 2,124 2,752 2,941 3,074 3,327 3,259 3,259 Intangible Assets
-- -- -- -- -- 1,363 1,365 1,367 1,381 1,434 1,468 1,755 1,834 1,912 2,080 2,090 2,090 Goodwill
-- -- -- -- -- 57.70 77.90 89.10 71.60 320 89.70 77.80 80.00 95.30 138 144 144 Other Long Term Assets
-- -- -- -- -- 4,191 4,259 3,638 3,874 4,178 4,053 4,876 5,129 5,511 5,965 6,291 6,291 Total Assets
-- -- -- -- -- 235 253 261 287 315 334 344 394 429 459 460 460 Accounts Payable
-- -- -- -- -- -- -- -- -- -- 28.00 43.30 46.30 61.40 57.70 39.30 39.30 Total Tax Payable
-- -- -- -- -- 462 468 577 604 672 656 757 843 907 967 1,010 1,010 Accounts Payable & Accrued
Expense
-- -- -- -- -- 1.20 3.00 21.30 28.00 6.00 26.30 0.80 -- -- 525 400 400 Current Portion of Long-Term Debt
-- -- -- -- -- 90.00 106 -- -- 60.80 17.50 -- -- -- -- -- -- Other Current Liabilities
-- -- -- -- -- 553 577 598 632 739 700 758 843 907 1,492 1,409 1,409 Total Current Liabilities
-- -- -- -- -- 23.90 16.80 389 298 350 644 1,169 1,431 1,508 1,809 1,785 1,785 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 140 140 Capital Lease Obligation
-- -- -- -- -- 23.90 16.80 389 298 350 644 1,169 1,431 1,508 1,809 1,924 1,924 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- -0.16 -0.34 0.19 0.14 0.13 0.30 0.48 0.61 0.58 1.07 0.96 0.96 Debt to Equity
-- -- -- -- -- -- -- 248 253 109 217 218 216 176 163 201 201 PensionAndRetirementBenefit
-- -- -- -- -- 259 267 204 224 197 151 202 164 167 163 157 157 NonCurrent Deferred Liabilities
-- -- -- -- -- 2.90 3.50 3.70 3.60 3.70 3.60 2.90 1.50 1.60 1.80 1.20 1.20 Minority Interest
-- -- -- -- -- 3,515 3,454 74.00 82.60 130 79.00 75.20 112 153 158 171 171 Other Long-Term Liabilities
-- -- -- -- -- 4,351 4,314 1,513 1,489 1,525 1,790 2,422 2,766 2,910 3,785 3,864 3,864 Total Liabilities
-- -- -- -- -- -- -- 1.60 1.60 1.70 1.70 1.70 1.70 1.70 1.80 1.80 1.80 Common Stock
-- -- -- -- -- -743 -685 -77.70 41.00 201 280 502 815 1,174 1,448 1,763 1,763 Retained Earnings
-- -- -- -- -- -90.10 -76.30 10.60 30.60 95.40 -6.70 -52.50 -71.90 -39.20 -67.00 -72.60 -72.60 Accumulated other comprehensive
income (loss)
-- -- -- -- -- 671 703 2,186 2,325 2,431 2,517 2,602 2,654 2,725 2,766 2,814 2,814 Additional Paid-In Capital
-- -- -- -- -- -- -- -0.10 -16.90 -79.80 -532 -602 -1,037 -1,262 -1,971 -2,079 -2,079 Treasury Stock
-- -- -- -- -- -162 -58.40 2,121 2,381 2,649 2,260 2,451 2,362 2,600 2,178 2,427 2,427 Total Equity
-- -- -- -- -- -0.04 -0.01 0.58 0.62 0.63 0.56 0.50 0.46 0.47 0.37 0.39 0.39 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FBHS 4/7
Cashflow Statement
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -41.10 65.00 -34.60 120 231 159 316 413 473 390 431 431 Net Income
-- -- -- -- -- -41.10 65.00 -34.60 120 231 159 316 413 473 390 431 431 Net Income From Continuing
Operations
-- -- -- -- -- 131 112 112 101 90.40 98.80 115 123 130 150 153 153 Depreciation, Depletion and
Amortization
-- -- -- -- -- 43.30 -20.80 26.90 -33.50 -58.50 -39.90 -6.90 -39.10 1.00 9.80 -50.70 -50.70 Change In Receivables
-- -- -- -- -- 45.10 -34.40 -4.60 -18.70 -89.70 14.50 -69.80 52.40 -24.80 -55.00 -38.30 -38.30 Change In Inventory
-- -- -- -- -- 70.70 -13.30 -9.90 30.50 45.50 -83.10 59.30 77.80 5.00 25.70 13.50 13.50 Change In Payables And Accrued
Expense
-- -- -- -- -- 176 -75.20 -28.30 -16.20 -70.50 -133 -41.80 102 -47.10 -44.20 -86.00 -86.00 Change In Working Capital
-- -- -- -- -- -23.70 27.10 -62.40 -4.00 -12.70 0.30 -13.60 -25.80 -18.70 2.80 -7.50 -7.50 Change In DeferredTax
-- -- -- -- -- 7.80 11.70 15.70 26.90 26.10 29.70 27.60 32.00 43.00 36.10 30.50 30.50 Stock Based Compensation
-- -- -- -- -- 19.10 -1.30 83.50 39.30 6.20 100 26.40 6.60 4.80 7.30 73.00 73.00 Cash Flow from Others
-- -- -- -- -- 269 139 175 283 298 266 429 651 600 604 637 637 Cash Flow from Operations
-- -- -- -- -- -43.30 -58.30 -68.50 -75.00 -96.70 -128 -129 -149 -165 -150 -132 -132 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- 11.30 2.60 -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -6.00 -19.50 -302 -147 -653 -240 -125 -466 -- 0.40 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- 130 -- -- 1.50 -- -- -- Sale Of Business
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -28.70 -- -- Purchase Of Investment
-- -- -- -- -- -- -- -- -- -- 130 12.20 -- -- -- -- -- Cash From Discontinued Investing
Activities
-- -- -- -- -- -0.00 -0.00 3.50 7.80 2.00 -136 2.50 3.90 0.40 10.10 4.20 4.20 Cash From Other Investing Activities
-- -- -- -- -- -32.00 -55.70 -71.00 -86.70 -397 -151 -767 -385 -288 -634 -128 -128 Cash Flow from Investing
-- -- -- -- -- -- -- -- -8.80 -52.10 -440 -51.70 -425 -215 -695 -100.00 -192 Repurchase of Stock
-- -- -- -- -- -3.90 -102 483 -84.90 31.30 314 500 259 75.00 826 -151 -151 Net Issuance of Debt
-- -- -- -- -- -- -- -549 -- -49.90 -77.40 -89.50 -98.20 -110 -115 -123 -123 Cash Flow for Dividends
-- -- -- -- -- -218 20.60 22.80 109 74.80 43.40 40.30 13.40 -- -23.20 -16.00 -16.00 Other Financing
-- -- -- -- -- -222 -81.40 -43.50 15.70 4.10 -160 399 -250 -250 -6.80 -390 -390 Cash Flow from Financing
-- -- -- -- -- 8.70 2.90 60.10 215 -94.60 -49.50 46.60 13.00 71.50 -52.30 124 124 Net Change in Cash
-- -- -- -- -- -43.30 -58.30 -68.50 -75.00 -96.70 -128 -129 -149 -165 -150 -132 -132 Capital Expenditure
-- -- -- -- -- 226 80.60 107 208 201 139 301 501 435 454 505 505 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FBHS 5/7
Valuation Ratios
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 40.58 34.36 47.90 28.61 20.33 22.51 14.28 21.35 20.81 PE Ratio(TTM)
-- -- -- -- -- -- -- -- -- -- 157 31.18 16.26 24.67 14.08 24.78 24.13 Price to Owner Earnings (TTM)
-- -- -- -- -- -- -- 1.25 2.01 2.87 3.17 3.62 3.47 4.00 2.45 3.75 3.64 Price to Book
-- -- -- -- -- -- -- 51.76 15.15 12.98 52.95 -- -- -- -- -- -- Price to Tangible Book
-- -- -- -- -- -- -- 24.75 23.74 39.13 51.04 30.16 16.74 24.45 11.95 18.21 17.75 Price-to-Free-Cash-Flow Ratio
-- -- -- -- -- -- -- 15.10 17.38 26.39 27.34 21.11 12.92 17.74 9.03 14.45 14.09 Price-to-Operating-Cash-Flow
Ratio
-- -- -- -- -- -- -- 0.79 1.55 2.04 1.87 1.98 1.69 2.02 1.01 1.60 1.57 PS Ratio
-- -- -- -- -- -- -- -- -- -- -- 1.20 0.43 0.77 0.73 1.53 1.54 PEG Ratio
-- -- -- -- -- -- -- 0.89 1.53 2.02 1.90 2.14 1.88 2.19 1.35 1.91 1.89 EV-to-Revenue
-- -- -- -- -- -- -- 29.38 19.51 19.09 15.25 16.16 12.45 14.22 9.74 13.41 13.20 EV-to-EBITDA
-- -- -- -- -- -- -- -266 33.27 24.58 18.99 19.94 14.86 16.93 12.12 16.47 16.21 EV-to-EBIT
-- -- -- -- -- -- -- -0.38 3.01 4.07 5.27 5.02 6.73 5.91 8.25 6.07 6.18 Return on Capital %
-- -- -- -- -- -- -- -- -- -- -- 22.11 23.25 22.97 25.88 18.43 18.61 Forward Rate of Return
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 37.57 36.60 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- 0.66 1.06 1.01 1.20 1.05 2.11 1.35 1.41 Dividend Yield %
Valuation and Quality
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- 2,657 4,788 7,617 7,159 8,875 8,201 10,397 5,338 9,092 8,912 Market Cap
-- -- -- -- -- -- -- 2,950 4,781 7,735 7,641 9,809 9,383 11,583 7,410 11,030 10,849 Enterprise Value
-- -- -- -- -- -- -- 17.03 29.22 45.70 45.27 55.50 53.46 68.44 37.99 65.34 63.67 Month End Stock Price
-- -- -- -- -- -27.70 -27.45 -8.95 -7.06 -7.72 -10.13 -13.67 -16.40 -17.04 -25.08 -24.99 -24.99 Net Cash (per share)
-- -- -- -- -- -19.24 -18.38 -3.61 -1.62 -1.21 -3.13 -6.30 -8.62 -8.63 -14.95 -14.13 -14.13 Net Current Asset Value (per
share)
-- -- -- -- -- -25.03 -24.56 -6.21 -4.22 -4.62 -6.49 -9.58 -11.97 -12.39 -19.61 -19.04 -19.04 Net-Net Working Capital (per
share)
-- -- -- -- -- -- -- -- -- -- -- 22.46 29.40 42.05 47.53 54.79 54.79 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- -- 45.15 54.35 59.71 65.96 70.31 66.40 66.40 Median PS (per share)
-- -- -- -- -- -- -- -- -- -- -- 46.27 65.50 76.50 52.27 42.75 42.75 Peter Lynch Fair Value (per share)
-- -- -- -- -- -- -- -- 5.31 9.79 5.62 -- -- -- -- -- -- Graham Number (per share)
-- -- -- -- -- -- -- -- -- -- 12.34 10.70 15.29 24.75 25.64 31.83 31.83 Earnings Power Value (EPV)
-- -- -- -- -- -- 0.96 2.05 3.06 4.40 3.99 3.78 3.52 3.96 2.48 3.17 3.12 Altman Z-Score
-- -- -- -- -- 9,999 9,999 3.00 8.00 6.00 5.00 7.00 6.00 8.00 4.00 7.00 7.00 Piotroski F-Score
-- -- -- -- -- -- -- -2.91 -2.59 -2.47 -2.55 -2.52 -2.65 -2.57 -2.64 -2.50 -2.50 Beneish M-Score
-- -- -- -- -- -0.05 -0.02 0.57 0.65 0.71 0.66 0.84 0.73 0.74 0.77 0.73 0.69 Scaled Net Operating Assets
-- -- -- -- -- -6.66 -0.46 -3.85 -2.00 7.86 1.06 13.38 2.88 2.90 7.04 -1.24 -1.24 Sloan Ratio (%)
-- -- -- -- -- 2.48 2.55 1.60 1.94 1.80 1.86 1.87 1.71 1.77 1.13 1.35 1.35 Current Ratio
-- -- -- -- -- 1.94 1.97 1.03 1.38 1.22 1.20 1.14 1.08 1.13 0.68 0.84 0.84 Quick Ratio
-- -- -- -- -- -- -- 17.03 30.33 45.70 47.83 56.47 64.04 69.32 73.13 65.98 73.28 Highest Stock Price
-- -- -- -- -- -- -- -- 16.82 29.22 36.77 43.04 45.27 53.46 35.96 37.66 44.79 Lowest Stock Price
-- -- -- -- -- -- -- -0.58 -5.04 -1.72 5.12 -1.12 4.06 0.98 7.51 0.96 0.96 Shares Buyback Ratio (%)
-- -- -- -- -- -- 7.54 2.87 -12.00 14.56 11.63 16.40 12.44 7.35 10.49 8.89 8.72 YoY Rev. per Sh. Growth (%)
-- -- -- -- -- -- 252 -156 409 88.73 -29.10 103 35.75 15.65 -12.21 15.04 15.04 YoY EPS Growth (%)
-- -- -- -- -- -- 79.57 -69.21 128 61.49 26.49 23.56 28.34 9.42 -0.55 11.93 11.73 YoY EBITDA Growth (%)
-- -- -- -- -- -- -- -- -- -- -- 24.61 46.96 28.88 19.65 13.97 13.30 EBITDA 5-Y Growth (%)
-- -- -- -- -- 155 155 155 161 166 162 160 154 153 145 140 140 Shares Outstanding (Basic
Average)
-- -- -- -- -- 155 155 156 164 167 158 160 153 152 140 139 140 Shares Outstanding (EOP)
-- -- -- -- -- -- -- -- -- -- 1.47 1.25 1.17 1.07 1.63 1.84 1.84 Beta
-- -- -- -- -- 08/26/11 08/26/11 02/22/12 02/27/13 02/26/14 02/25/15 02/25/16 02/28/17 02/28/18 02/25/19 02/26/20 Filing Date
-- -- -- -- -- 08/26/11 02/27/13 02/26/14 02/25/15 02/25/16 02/28/17 02/28/18 02/25/19 02/26/20 02/26/20 02/26/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FBHS 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FBHS 7/7
McKesson Corp (NYSE:MCK) 03/02/2020 4:10PM EST GuruFocus
Price: $ 150.41 +10.55(+7.54%) Market Cap: $ 26.61 B Enterprise Value: $36.75 B Stock PDF
Financial Strength : 6/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.17 Operating margin (%) 1.23
P/B 4.31
Equity to Asset 0.10 Net-margin (%) -0.41
P/S 0.12
Interest Coverage 10.91 ROE (%) -12.13
F-Score:
PFCF 9.27
ROA (%) -1.52
4 POCF 7.97
Z-Score: ROC (Joel Greenblatt) (%) -10.64
4.23 EV-to-EBIT -84.30
Revenue Growth (3Y)(%) 9.90
M-Score: Shiller P/E 22.48
-2.41 EBITDA Growth (3Y)(%) -21.70
Current Ratio 0.98
WACC vs 6.34% EPS Growth (3Y)(%) -74.10
ROIC 17.73% Quick Ratio 0.56
WACC
ROIC Days Inventory 28.66
Days Sales Outstanding 30.56
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year McKesson is the largest and most complex of the leading third-party logistics providers. The company is engaged in
Long-Term Debt: Issuing new
wholesale pharmaceutical and medical products sourcing, distribution and dispensing, contract manufacturing, and
debt 2016 46,678 49,733 49,957 50,130 196,498 related IT services to acute care hospitals and health systems, independent and chain retail pharmacies in North
2017 48,713 51,051 52,061 53,617 205,442 America, Europe, and Canada. Through acquisition and joint ventures McKesson also runs the fourth- largest
Insider Sell: Insider Selling pharmacy chain and provides technology and consulting services to manufacturers, pharmacies, physician offices,
2018 51,628 52,607 53,075 56,208 213,518 surgery centers, long-term care facilities, and home healthcare businesses.... (Read More)
2019 52,429 55,728 57,616 59,172 224,945 Competitors: NYSE:ABC, NYSE:CAH, HKSE:01099 , NAS:HSIC, XKRX:091990 , SHSE:601607 , HAM:CLS1 ,
DCF 2020 TSE:2784, TSE:7459, SHSE:600739, XSWX:GALE, TSE:9987, SZSE:000028, NZSE:EBO, SHSE:600056,
NAS:PDCO, NYSE:PBH, OSTO:ARJO B, LSE:CLIN, TSE:7476
GuruFocus does not Quarterly Earnings per Share
calculate intrinsic value: DCF Insider Trades
Mar Jun Sep Dec Full Year
(Earnings Based) for
2016 1.88 2.38 1.34 2.85 8.45
companies with one star
2017 16.76 1.45 0.01 4.33 22.55
predictability or not rated. But
2018 -5.58 -0.68 2.51 2.40 -1.35
you can go to each stock's
2019 -4.17 2.24 -3.99 1.03 -4.89
DCF page to calculate
2020
yourself.
Quarterly Dividends Per Share
Reverse DCF Mar Jun Sep Dec Full Year
2016 0.28 0.28 0.28 0.28 1.12
GuruFocus does not
2017 0.28 0.28 0.34 0.34 1.24
calculate reverse DCF growth
2018 0.34 0.34 0.39 0.39 1.46
rate for companies with one
2019 0.39 0.39 0.41 0.41 1.60
star predictability or not rated.
2020
But you can go to each
stock's DCF page to calculate Growth Rate
yourself.
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 12.10 12.00 13.80
EBITDA Growth (%) 7.10 -10.90 -63.10
Free Cash Flow Growth (%) 15.00 12.00 29.80
Book Value Growth (%) 7.40 6.00 -27.10
EPS Growth (%) -15.60 -53.40 0.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCK 1/7
Per Share Data
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
231 269 275 305 341 382 398 426 487 511 590 762 819 890 997 1,088 1,213 Revenue per Share
4.04 0.10 4.39 5.11 6.21 5.91 8.06 8.95 10.51 11.59 13.76 17.23 19.26 36.36 7.05 9.25 2.65 EBITDA per Share
3.27 -0.74 3.56 4.14 4.96 4.33 7.51 7.06 8.54 9.16 10.61 12.90 15.46 32.28 2.50 4.44 -2.34 EBIT per Share
2.19 -0.53 2.38 2.99 3.32 2.95 4.62 4.57 5.59 5.59 5.41 6.27 9.70 22.73 0.32 0.17 -4.89 Earnings per Share (diluted)
2.18 -0.59 2.36 3.17 3.32 2.95 4.62 4.29 5.49 5.69 6.08 7.54 9.84 23.28 0.30 0.17 -4.83 eps without NRI
1.38 0.52 8.61 3.97 5.26 2.30 5.86 7.17 9.50 9.41 9.51 7.77 11.63 36.08 6.81 6.63 -4.19 Owner Earnings per Share (TTM)
1.62 4.33 7.63 4.04 1.72 3.44 7.10 7.41 10.17 8.72 11.66 10.92 12.85 18.75 18.01 17.66 16.22 Free Cashflow per Share
0.24 0.24 0.24 0.24 0.24 0.48 0.48 0.72 0.80 0.80 0.92 0.96 1.08 1.12 1.30 1.51 1.60 Dividends per Share
17.79 17.59 19.43 21.11 22.08 22.82 27.79 28.65 29.07 31.15 36.89 34.49 39.66 52.58 48.54 42.60 34.90 Book Value per Share
12.66 12.49 13.66 8.48 6.91 6.57 11.73 4.95 0.21 -7.07 -27.17 -22.66 -17.26 -14.96 -25.85 -26.07 -37.56 Tangible Book per Share
5.11 4.04 3.26 6.59 6.48 9.24 8.47 15.89 16.94 21.47 45.86 42.43 36.06 40.50 39.01 39.97 67.80 Total Debt per Share
30.09 37.75 52.13 58.54 52.37 35.04 65.72 79.05 87.77 108 177 226 157 148 141 117 150 Month End Stock Price
Ratios
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
13.35 -3.01 13.43 14.99 15.98 13.37 18.40 16.30 19.97 19.25 16.20 17.87 26.68 50.65 0.64 0.38 -12.13 Return on Equity %
4.23 -0.90 3.78 4.07 4.08 3.30 4.73 4.07 4.39 3.94 2.92 2.79 4.09 8.63 0.11 0.06 -1.52 Return on Assets %
27.57 -7.04 50.58 92.23 190 145 249 202 211 185 141 143 167 315 21.95 34.88 -10.64 Return on Capital %
12.14 -2.65 15.17 17.10 15.64 14.07 21.23 20.51 21.68 19.06 12.46 14.75 20.47 17.72 22.10 9.70 17.73 Return on Invested Capital %
6.07 6.62 8.09 7.81 7.91 6.41 8.71 7.87 7.07 5.44 7.59 5.86 6.40 8.30 9.67 7.70 6.34 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 6.69 7.78 7.05 6.29 5.42 3.88 3.66 3.93 3.70 3.45 3.41 2.56 Effective Interest Rate on Debt %
4.67 4.23 4.34 4.66 4.93 5.04 5.22 5.33 5.23 5.63 6.08 6.37 5.98 5.68 5.37 5.48 5.28 Gross Margin %
1.41 -0.27 1.29 1.36 1.45 1.12 1.83 1.81 1.86 1.91 1.82 1.74 1.91 1.75 1.40 1.53 1.23 Operating Margin %
0.93 -0.20 0.86 0.98 0.97 0.77 1.16 1.07 1.15 1.09 0.92 0.82 1.18 2.55 0.03 0.02 -0.41 Net Margin %
0.70 1.61 2.77 1.33 0.50 0.90 1.78 1.74 2.09 1.70 1.98 1.43 1.57 2.11 1.81 1.62 1.39 FCF Margin %
0.29 0.23 0.17 0.31 0.29 0.41 0.31 0.56 0.58 0.69 1.24 1.23 0.91 0.77 0.80 0.94 1.94 Debt to Equity
0.32 0.28 0.28 0.26 0.25 0.25 0.27 0.23 0.21 0.20 0.17 0.15 0.16 0.18 0.16 0.14 0.10 Total Equity to Total Asset
0.09 0.07 0.05 0.08 0.07 0.10 0.08 0.13 0.12 0.14 0.21 0.18 0.14 0.14 0.13 0.13 0.20 Total Debt to Total Asset
21.14 19.09 19.01 19.29 20.64 21.57 21.24 20.21 20.01 20.27 19.30 21.61 20.68 19.19 18.43 19.58 19.67 Gross Profit to Total Asset %
4.52 4.52 4.38 4.14 4.19 4.28 4.07 3.80 3.82 3.60 3.18 3.39 3.46 3.38 3.43 3.57 3.72 Asset Turnover
0.11 -- 0.10 0.08 0.07 0.16 0.10 0.17 0.15 0.14 0.15 0.13 0.11 0.05 4.33 8.88 -- Dividend Payout Ratio
28.58 26.40 26.21 22.03 22.36 -- 24.36 25.99 25.55 25.94 32.33 26.74 27.76 26.85 25.14 25.45 30.56 Days Sales Outstanding
40.73 42.08 44.11 44.77 45.42 -- -- -- 50.74 50.99 59.76 54.80 58.14 60.47 59.56 61.00 56.10 Days Accounts Payable
35.29 34.28 32.07 31.46 32.37 31.59 31.83 32.10 30.38 32.30 32.98 29.70 30.13 29.83 29.24 29.75 28.66 Days Inventory
23.14 18.60 14.17 8.72 9.31 31.59 56.19 58.09 5.19 7.25 5.55 1.64 -0.25 -3.79 -5.18 -5.80 3.12 Cash Conversion Cycle
10.34 10.65 11.38 11.60 11.27 11.55 11.47 11.37 12.01 11.30 11.07 12.29 12.11 12.23 12.48 12.27 12.74 Inventory Turnover
0.95 0.96 0.96 0.95 0.95 0.95 0.95 0.95 0.95 0.94 0.94 0.94 0.94 0.94 0.95 0.95 0.95 COGS to Revenue
0.09 0.09 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.09 0.08 0.08 0.08 0.08 0.08 0.07 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCK 2/7
Income Statement
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
69,210 79,096 86,983 92,977 101,703 106,632 108,702 112,084 122,321 122,196 137,392 179,045 190,884 198,533 208,357 214,319 224,945 Revenue
65,975 75,754 83,206 88,645 96,694 101,254 103,026 106,114 115,919 115,315 129,040 167,634 179,468 187,262 197,173 202,565 213,057 Cost of Goods Sold
3,235 3,342 3,777 4,332 5,009 5,378 5,676 5,970 6,402 6,881 8,352 11,411 11,416 11,271 11,184 11,754 11,888 Gross Profit
4.67 4.23 4.34 4.66 4.93 5.04 5.22 5.33 5.23 5.63 6.08 6.37 5.98 5.68 5.37 5.48 5.28 Gross Margin %
2,084 2,176 2,383 2,790 3,189 3,325 3,312 3,529 3,727 4,110 5,388 7,901 7,379 7,447 8,138 8,403 -- Selling, General, & Admin.
Expense
173 182 223 284 347 364 376 407 402 433 457 392 392 341 125 71.00 -- Research & Development
-- 1,200 45.00 -6.00 -5.00 493 -- -- -- -- -- -- -- -- -- -- 9,116 Other Operating Expense
978 -216 1,126 1,264 1,478 1,196 1,988 2,034 2,273 2,338 2,507 3,118 3,645 3,483 2,921 3,280 2,772 Operating Income
1.41 -0.27 1.29 1.36 1.45 1.12 1.83 1.81 1.86 1.91 1.82 1.74 1.91 1.75 1.40 1.53 1.23 Operating Margin %
-- -- -- -- -- -- -- 18.00 19.00 22.00 16.00 20.00 18.00 29.00 48.00 39.00 -- Interest Income
-- -- -- -- -- -144 -187 -222 -251 -240 -300 -374 -353 -308 -283 -264 -254 Interest Expense
-- -- -- -- -- -144 -187 -204 -232 -218 -284 -354 -335 -279 -235 -225 -215 Net Interest Income
-72.00 -50.00 45.00 33.00 -21.00 12.00 63.00 -195 -148 -170 -52.00 -107 -60.00 3,687 -2,447 -2,445 -3,247 Other Income (Expense)
-- -- -- -- -- -- -- -- -- -- 5.00 -67.00 -52.00 -83.00 -230 -221 -215 Other Income (Minority
Interest)
906 -266 1,171 1,297 1,457 1,064 1,864 1,635 1,893 1,950 2,171 2,657 3,250 6,891 239 610 -690 Pre-Tax Income
-263 93.00 -426 -329 -468 -241 -601 -505 -514 -587 -757 -815 -908 -1,614 53.00 -356 -- Tax Provision
29.03 34.96 36.38 25.37 32.12 22.65 32.24 30.89 27.15 30.10 34.87 30.67 27.94 23.42 -22.18 58.36 -- Tax Rate %
643 -173 745 968 989 823 1,263 1,130 1,379 1,363 1,414 1,842 2,342 5,277 292 254 -690 Net Income (Continuing
Operations)
4.00 16.00 6.00 -55.00 1.00 -- -- 72.00 24.00 -25.00 -156 -299 -32.00 -124 5.00 1.00 -12.00 Net Income (Discontinued
Operations)
647 -157 751 913 990 823 1,263 1,202 1,403 1,338 1,263 1,476 2,258 5,070 67.00 34.00 -917 Net Income
0.93 -0.20 0.86 0.98 0.97 0.77 1.16 1.07 1.15 1.09 0.92 0.82 1.18 2.55 0.03 0.02 -0.41 Net Margin %
2.23 -0.53 2.46 3.06 3.40 2.99 4.70 4.65 5.70 5.71 5.51 6.37 9.82 22.95 0.32 0.17 -4.87 EPS (Basic)
2.19 -0.53 2.38 2.99 3.32 2.95 4.62 4.57 5.59 5.59 5.41 6.27 9.70 22.73 0.32 0.17 -4.89 EPS (Diluted)
299 294 316 305 298 279 273 263 251 239 233 235 233 223 209 197 180 Shares Outstanding (Diluted
Average)
230 245 262 295 371 441 148 496 493 581 735 1,017 885 910 951 949 926 Depreciation, Depletion and
Amortization
1,208 29.00 1,388 1,559 1,849 1,649 2,199 2,353 2,637 2,771 3,206 4,048 4,488 8,109 1,473 1,823 490 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCK 3/7
Balance Sheet
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
708 1,800 2,139 1,954 1,362 2,109 3,731 3,612 3,149 2,456 4,193 5,341 4,048 2,783 2,672 2,981 2,065 Cash And Cash Equivalents
9.80 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
718 1,800 2,139 1,954 1,362 2,109 3,731 3,612 3,149 2,456 4,193 5,341 4,048 2,783 2,672 2,981 2,065 Cash, Cash Equivalents, Marketable
Securities
5,419 5,721 6,247 5,613 6,229 -- 7,256 7,982 8,562 8,683 12,169 13,117 14,519 14,602 14,349 14,941 18,831 Accounts Receivable
6,735 7,495 7,127 8,153 9,000 8,527 9,441 9,225 10,073 10,335 12,986 14,296 15,335 15,278 16,310 16,709 17,020 Inventories, Other
6,735 7,495 7,127 8,153 9,000 8,527 9,441 9,225 10,073 10,335 12,986 14,296 15,335 15,278 16,310 16,709 17,020 Total Inventories
133 346 1,484 1,183 211 261 257 333 404 404 1,877 1,119 1,072 672 443 529 1,474 Other Current Assets
13,004 15,362 16,997 17,856 17,786 18,671 21,504 22,357 23,603 23,170 32,836 36,670 38,435 36,948 37,136 38,465 39,390 Total Current Assets
-- -- -- -- -- -- -- -- -- -- -- -- -- 4,063 3,728 3,513 2,143 Investments And Advances
34.20 -- -- 43.00 50.00 50.00 50.00 70.00 68.00 129 221 207 228 166 187 172 -- Land And Improvements
1,289 -- -- 1,463 1,652 1,673 1,808 1,973 2,107 2,400 3,155 3,237 3,556 3,637 3,746 4,154 -- Buildings And Improvements
1,323 1,420 1,523 1,506 1,702 1,723 1,858 2,043 2,175 2,529 3,376 3,444 3,784 3,803 3,933 4,326 4,421 Gross Property, Plant and Equipment
-723 -804 -860 -822 -927 -927 -1,007 -1,052 -1,132 -1,208 -1,180 -1,399 -1,506 -1,511 -1,469 -1,778 -- Accumulated Depreciation
600 616 663 684 775 796 851 991 1,043 1,321 2,196 2,045 2,278 2,292 2,464 2,548 4,421 Property, Plant and Equipment
1,490 1,529 1,753 3,754 4,205 4,410 4,353 5,972 6,782 8,675 14,798 13,258 12,807 14,251 15,026 13,047 12,820 Intangible Assets
-- -- 1,637 2,975 3,345 3,528 3,568 4,364 5,032 6,405 9,927 9,817 9,786 10,586 10,924 9,358 9,456 Goodwill
1,146 1,268 1,548 1,649 1,837 1,390 1,481 1,566 1,665 1,620 1,929 1,897 3,003 3,415 2,027 2,099 2,099 Other Long Term Assets
16,240 18,775 20,961 23,943 24,603 25,267 28,189 30,886 33,093 34,786 51,759 53,870 56,523 60,969 60,381 59,672 60,873 Total Assets
7,362 8,733 10,055 10,873 12,032 -- -- -- 16,114 16,108 21,128 25,166 28,585 31,022 32,177 33,853 32,744 Accounts Payable
7,362 8,733 10,055 12,982 14,136 14,242 14,814 15,951 18,263 18,020 25,126 28,935 32,533 34,026 35,556 37,296 36,103 Accounts Payable & Accrued
Expense
275 9.00 26.00 155 2.00 219 3.00 417 908 352 1,665 1,664 1,617 1,240 1,129 330 3,481 Current Portion of Long-Term Debt
503 593 827 1,027 1,210 1,145 1,218 1,321 1,423 1,359 1,236 1,078 919 346 -- -- -- Current Deferred Revenue
-- -- -- -- -- -- 977 1,037 1,092 1,626 1,588 1,820 -- -- -- -- -- Current Deferred Taxes Liabilities
503 593 827 1,027 1,210 1,145 2,195 2,358 2,515 2,985 2,824 2,898 919 346 -- -- -- DeferredTaxAndRevenue
1,276 2,457 2,582 962 -- -- -- -- -- -- -- -- -- -- -- -- 471 Other Current Liabilities
9,416 11,792 13,490 15,126 15,348 15,606 17,012 18,726 21,686 21,357 29,615 33,497 35,069 35,612 36,685 37,626 40,055 Total Current Liabilities
1,210 1,202 965 1,803 1,795 2,290 2,293 3,587 3,072 4,521 8,929 8,180 6,497 7,305 6,751 7,265 6,734 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 1,780 Capital Lease Obligation
1,210 1,202 965 1,803 1,795 2,290 2,293 3,587 3,072 4,521 8,929 8,180 6,497 7,305 6,751 7,265 8,514 Long-Term Debt & Capital Lease
Obligation
0.29 0.23 0.17 0.31 0.29 0.41 0.31 0.56 0.58 0.69 1.24 1.23 0.91 0.77 0.80 0.94 1.94 Debt to Equity
-- -- -- -- -- -- -- -- -- -- -- 859 2,734 3,678 2,804 2,998 2,686 NonCurrent Deferred Liabilities
-- -- -- -- -- -- -- -- -- -- 1,796 84.00 84.00 178 253 193 211 Minority Interest
449 506 599 741 1,339 1,178 1,352 1,353 1,504 1,838 2,897 3,249 3,215 3,101 4,084 3,496 3,233 Other Long-Term Liabilities
11,075 13,500 15,054 17,670 18,482 19,074 20,657 23,666 26,262 27,716 41,441 45,785 47,515 49,696 50,324 51,385 54,488 Total Liabilities
3.00 3.00 3.00 3.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.00 3.00 3.00 3.00 3.00 Common Stock
3,421 3,194 3,871 4,712 5,586 6,103 7,236 8,250 9,451 10,402 11,453 12,705 8,360 13,189 12,986 12,409 12,075 Retained Earnings
-111 -46.00 -45.00 -2.00 139 -179 6.00 87.00 5.00 -65.00 -3.00 -1,713 -1,561 -2,141 -1,717 -1,849 -1,663 Accumulated other comprehensive
income (loss)
2,047 2,320 3,238 3,722 4,252 4,417 4,744 5,349 5,571 6,078 6,552 6,968 5,845 6,028 6,188 6,435 6,614 Additional Paid-In Capital
-194 -196 -1,160 -2,162 -3,860 -4,144 -4,458 -6,470 -8,204 -9,363 -9,507 -9,956 -3,721 -5,982 -7,655 -8,902 -10,853 Treasury Stock
5,165 5,275 5,907 6,273 6,121 6,193 7,532 7,220 6,831 7,070 8,522 8,001 8,924 11,095 9,804 8,094 6,174 Total Equity
0.32 0.28 0.28 0.26 0.25 0.25 0.27 0.23 0.21 0.20 0.17 0.15 0.16 0.18 0.16 0.14 0.10 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCK 4/7
Cashflow Statement
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
647 -157 751 913 990 823 1,263 1,130 1,403 1,338 1,258 1,543 2,310 5,153 297 255 -702 Net Income
647 -157 751 913 990 823 1,263 1,130 1,403 1,338 1,258 1,543 2,310 5,153 297 255 -702 Net Income From Continuing
Operations
230 245 262 295 371 441 148 496 493 581 735 1,017 885 910 951 949 926 Depreciation, Depletion and
Amortization
-719 -325 -519 -209 -288 -708 -133 -673 -768 318 -868 -2,821 -1,957 -762 1,175 -967 -468 Change In Receivables
-681 -654 601 -928 -676 370 -782 367 -882 -60.00 -1,182 -2,144 -1,251 320 -458 -368 -301 Change In Inventory
834 1,316 1,104 872 762 -236 1,428 533 2,037 -125 2,412 4,718 3,302 2,070 271 1,976 872 Change In Payables And Accrued
Expense
-423 538 1,512 60.00 232 -629 540 515 652 63.00 567 -460 -104 1,316 1,738 614 109 Change In Working Capital
69.00 -329 403 167 198 320 277 128 175 615 17.00 171 64.00 882 -868 189 -368 Change In DeferredTax
-- -- -- -- -- 99.00 114 137 154 167 160 174 123 115 69.00 -- -- Stock Based Compensation
72.00 1,262 -184 49.00 -922 234 -26.00 -140 73.00 -472 319 426 386 -3,922 -59.00 -50.00 2,129 Cash Flow from Others
595 1,543 2,738 1,539 869 1,351 2,316 2,338 2,950 2,483 3,136 3,112 3,672 4,744 4,345 4,036 3,615 Cash Flow from Operations
-112 -271 -326 -306 -356 -195 -199 -233 -221 -241 -278 -376 -488 -404 -405 -426 -359 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -358 -18.00 -292 -1,051 -1,873 -4,634 -170 -40.00 -4,212 -2,893 -905 -136 Purchase Of Business
-- -- -- -- -- 63.00 1.00 109 -- -- 97.00 15.00 210 1,432 500 101 -- Sale Of Business
-- -- 63.00 179 -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Investment
-- -- -961 -43.00 961 -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-188 -89.00 -589 -1,938 -610 -237 -93.00 -208 -230 -95.00 -231 -146 -1,239 -85.00 -195 -151 -144 Cash From Other Investing Activities
-300 -360 -1,813 -2,108 -5.00 -727 -309 -624 -1,502 -2,209 -5,046 -677 -1,557 -3,269 -2,993 -1,381 -639 Cash Flow from Investing
93.00 223 568 399 354 97.00 212 367 167 166 177 152 123 120 132 118 Issuance of Stock
75.00
-157 -- -958 -1,003 -1,698 -502 -323 -2,050 -1,874 -1,214 -130 -450 -1,612 -2,311 -1,709 -1,639 -2,202 Repurchase of Stock
-17.00 -268 -24.00 966 -162 695 -219 -41.00 -30.00 255 3,724 -402 -1,725 393 -948 -16.00 -52.00 Net Issuance of Debt
-70.00 -70.00 -73.00 -72.00 -70.00 -116 -131 -171 -195 -194 -214 -227 -244 -253 -262 -292 -298 Cash Flow for Dividends
42.00 24.00 -96.00 89.00 106 4.00 -283 54.00 27.00 31.00 62.00 -41.00 5.00 -18.00 -297 -364 Other Financing
-355
-109 -91.00 -583 379 -1,470 178 -421 -1,841 -1,905 -956 3,619 -968 -3,453 -2,069 -3,084 -2,227 -2,798 Cash Flow from Financing
186 1,092 339 -185 -592 747 1,622 -119 -463 -693 1,737 1,148 -1,293 -738 -1,582 309 216 Net Change in Cash
-112 -271 -326 -306 -356 -392 -378 -388 -398 -400 -419 -545 -677 -562 -580 -557 -490 Capital Expenditure
483 1,272 2,412 1,233 513 959 1,938 1,950 2,552 2,083 2,717 2,567 2,995 4,182 3,765 3,479 3,125 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCK 5/7
Valuation Ratios
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
13.68 -- 21.90 19.58 15.77 11.92 14.23 17.34 15.70 19.31 32.52 36.08 16.23 6.35 671 1,951 -- PE Ratio(TTM)
21.76 72.18 6.05 14.75 9.95 15.21 11.22 11.03 9.24 11.48 18.56 29.10 13.52 4.11 20.67 17.66 -- Price to Owner Earnings
(TTM)
1.69 2.15 2.68 2.77 2.37 1.54 2.36 2.76 3.02 3.47 4.79 6.56 3.96 2.82 2.90 2.75 4.31 Price to Book
2.38 3.02 3.82 6.91 7.58 5.33 5.60 15.96 420 -- -- -- -- -- -- -- -- Price to Tangible Book
18.54 8.82 6.85 14.54 30.29 10.21 9.25 10.63 8.58 12.23 15.12 20.74 12.13 7.92 7.76 6.39 9.27 Price-to-Free-Cash-Flow
Ratio
15.08 7.28 6.03 11.64 17.90 7.24 7.74 8.87 7.43 10.28 13.10 17.11 9.91 6.97 6.73 5.53 7.97 Price-to-Operating-Cash-
Flow Ratio
0.13 0.14 0.19 0.19 0.15 0.09 0.17 0.19 0.18 0.21 0.30 0.30 0.19 0.17 0.14 0.11 0.12 PS Ratio
0.65 -- 8.37 -- -- -- 0.13 1.20 1.06 1.22 1.87 1.97 0.93 0.34 48.40 -- -- PEG Ratio
0.14 0.14 0.17 0.19 0.15 0.09 0.15 0.18 0.18 0.22 0.36 0.32 0.21 0.19 0.16 0.13 0.16 EV-to-Revenue
7.88 370 10.61 11.16 8.09 6.01 6.82 8.63 8.14 9.72 15.28 14.10 8.81 4.59 23.03 14.84 75.01 EV-to-EBITDA
9.73 -49.69 13.08 13.77 10.12 8.20 7.98 10.94 10.01 12.29 19.82 18.83 10.97 5.17 64.97 30.95 -84.30 EV-to-EBIT
10.28 -2.01 7.65 7.26 9.88 12.20 12.53 9.14 9.99 8.14 5.05 5.31 9.12 19.34 1.54 3.23 -1.19 Return on Capital %
23.42 24.05 9.20 -14.48 -20.71 0.77 27.77 22.05 22.14 22.59 21.01 19.48 24.20 27.06 26.29 3.89 -16.00 Forward Rate of Return
-- 24.70 32.02 31.16 28.08 16.89 29.02 28.16 26.90 29.62 44.75 48.78 29.31 19.76 19.34 16.50 22.48 Shiller PE Ratio
0.80 0.64 0.46 0.41 0.46 1.37 0.73 0.91 0.91 0.74 0.52 0.42 0.69 0.76 0.92 1.29 1.07 Dividend Yield %
Valuation and Quality
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
8,735 11,322 15,848 17,398 14,521 9,510 17,810 19,921 20,626 24,507 40,788 52,478 35,381 31,283 28,456 22,241 26,612 Market Cap
9,502 10,733 14,700 17,402 14,956 9,910 16,375 20,313 21,457 26,924 48,985 57,065 39,531 37,223 33,917 27,048 36,753 Enterprise Value
30.09 37.75 52.13 58.54 52.37 35.04 65.72 79.05 87.77 108 177 226 157 148 141 117 150 Month End Stock Price
-35.68 -39.01 -42.48 -52.88 -61.74 -62.51 -62.46 -79.58 -98.35 -111 -169 -175 -194 -223 -237 -256 -297 Net Cash (per share)
6.65 6.21 6.39 0.63 -2.51 -1.48 3.13 -5.19 -11.31 -20.03 -45.03 -39.65 -40.73 -61.26 -66.54 -69.02 -86.53 Net Current Asset Value
(per share)
-10.08 -12.21 -15.35 -25.00 -28.67 -46.80 -24.96 -37.52 -49.60 -59.82 -101 -101 -111 -135 -144 -153 -170 Net-Net Working Capital (per
share)
19.60 32.20 50.74 59.03 61.31 64.14 77.11 104 111 125 159 173 191 239 230 242 229 Projected FCF (per share)
-- 49.82 49.50 54.91 61.47 64.78 67.41 71.48 81.43 86.90 103 139 155 169 182 200 222 Median PS (per share)
46.63 -14.50 53.19 38.87 75.57 73.50 116 65.84 82.46 88.59 94.31 115 169 438 2.91 -- -- Peter Lynch Fair Value (per
share)
24.92 -- 26.94 24.59 22.72 20.88 34.92 21.86 5.08 -- -- -- -- -- -- -- -- Graham Number (per share)
20.75 25.73 29.15 28.90 31.36 32.35 52.19 55.65 63.01 66.66 63.98 87.66 108 124 146 -8.40 -37.32 Earnings Power Value
(EPV)
5.48 5.14 5.44 5.07 5.24 5.16 5.16 4.85 4.85 4.73 3.79 4.60 4.31 4.35 4.13 4.21 4.23 Altman Z-Score
5.00 5.00 6.00 6.00 5.00 7.00 8.00 5.00 6.00 5.00 7.00 5.00 8.00 4.00 5.00 7.00 4.00 Piotroski F-Score
-2.24 -2.54 -2.83 -2.58 -2.37 -3.51 -2.53 -2.56 -2.59 -2.58 -2.31 -2.64 -2.41 -2.58 -2.57 -2.46 -2.41 Beneish M-Score
0.41 0.29 0.25 0.30 0.27 0.27 0.24 0.27 0.25 0.29 0.48 0.24 0.24 0.30 0.25 0.21 0.28 Scaled Net Operating
Assets
2.17 -7.14 -0.83 6.19 0.51 0.79 -2.64 -1.66 -0.14 3.06 6.13 -1.78 0.25 5.90 -2.13 -4.39 -6.40 Sloan Ratio (%)
1.38 1.30 1.26 1.18 1.16 1.20 1.26 1.19 1.09 1.08 1.11 1.09 1.10 1.04 1.01 1.02 0.98 Current Ratio
0.67 0.67 0.73 0.64 0.57 0.65 0.71 0.70 0.62 0.60 0.67 0.67 0.66 0.61 0.57 0.58 0.56 Quick Ratio
36.94 38.41 54.77 58.95 67.92 58.85 66.72 80.64 88.59 111 185 230 243 198 177 158 172 Highest Stock Price
23.60 22.98 35.08 45.00 51.66 28.60 33.87 58.05 69.35 85.48 104 165 150 124 135 108 111 Lowest Stock Price
0.31 -3.32 -1.36 2.24 6.70 2.11 0.15 7.01 6.75 3.40 -1.76 -0.43 3.02 6.22 4.27 5.94 7.76 Shares Buyback Ratio (%)
21.08 16.23 2.32 10.75 11.95 11.99 4.18 7.03 14.35 4.91 15.33 29.21 7.53 8.67 11.98 9.13 13.78 YoY Rev. per Sh. Growth
(%)
16.49 -124 549 25.63 11.04 -11.14 56.61 -1.08 22.32 -- -3.22 15.90 54.70 134 -98.59 -46.88 -262 YoY EPS Growth (%)
6.48 -97.55 4,336 16.37 21.40 -4.75 36.29 11.07 17.42 10.36 18.68 25.19 11.82 88.78 -80.62 31.30 -63.15 YoY EBITDA Growth (%)
21.29 70.09 2.63 -21.40 -28.43 -12.65 107 15.42 15.02 15.57 15.93 15.20 17.18 18.36 15.32 -10.75 -10.90 EBITDA 5-Y Growth (%)
290 294 306 298 291 275 269 258 246 235 229 232 230 221 208 196 179 Shares Outstanding (Basic
Average)
290 300 304 297 277 271 271 252 235 227 231 232 225 211 202 190 180 Shares Outstanding (EOP)
0.54 0.49 0.64 0.61 0.89 0.67 0.88 0.74 0.82 0.63 0.89 0.73 0.95 1.25 1.49 1.56 1.04 Beta
06/10/04 05/13/05 05/16/06 05/09/07 05/07/08 05/05/09 05/04/10 05/05/11 05/02/12 05/07/13 05/14/14 05/12/15 05/05/16 05/22/17 05/24/18 05/15/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCK 6/7
05/13/05 05/16/06 05/09/07 05/07/08 05/07/08 05/04/10 05/05/11 05/07/13 05/14/14 05/12/15 05/05/16 05/22/17 05/24/18 05/15/19 05/15/19 05/15/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCK 7/7
SBA Communications Corp (NAS:SBAC) 03/02/2020 4:00PM EST GuruFocus
Price: $ 285.05 +19.96(+7.53%) Market Cap: $ 31.91 B Enterprise Value: $44.66 B Stock PDF
Financial Strength : 2/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 220.97
Cash to Debt 0.01 Operating margin (%) 31.36
Forward P/E N/A
Equity to Asset -0.38 Net-margin (%) 7.30
PE(NRI) 220.97
Interest Coverage 1.61 ROA (%) 1.64
F-Score:
P/S 16.23
ROC (Joel Greenblatt) (%) 12.11
8 PFCF 40.07
Z-Score: Revenue Growth (3Y)(%) 10.40
0.94 POCF 33.70
EBITDA Growth (3Y)(%) 9.70
M-Score: EV-to-EBIT 76.98
-2.75 EPS Growth (3Y)(%) 28.00
PEG 21.67
WACC vs 3.33%
ROIC 5.99% Current Ratio 0.32
WACC
ROIC Quick Ratio 0.32
Days Sales Outstanding 23.94
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year SBA Communications owns and leases roughly almost 30,000 cell towers throughout North America and South
Interest Coverage: Low
America. It leases space on its towers to wireless service providers, who install equipment on the towers to support
2016 400 406 411 417 1,633 their wireless networks. The company has a very concentrated customer base, with most revenue in each market
Price: Close to 10-year high being generated by just the top few mobile carriers. The company owns more than 16,000 towers in the U.S., which
2017 423 427 434 443 1,728
accounted for three fourths of the company's total revenue in 2018. Internationally, SBA's greatest presence is in
PS Ratio: Close to 10-year 2018 458 456 467 484 1,866 Brazil, where it operates more than 8,000 towers. SBA operates as a real estate investment trust, or REIT, but does
high 2019 493 500 508 514 2,015 not expect to be required to pay a dividend under REIT rules until early next decade.... (Read More)
2020 Competitors: NYSE:WY, NAS:GLPI, NAS:EQIX, NYSE:IRM, NAS:LAMR, NAS:CONE, NYSE:OUT, NYSE:RYN,
Insider Sell: Insider Selling NAS:PCH, NYSE:HASI, NYSE:CXW, ASX:VVR, ASX:CQE, ASX:ARF, NYSE:CTT, ASX:RFF, TSX:APR.UN,
Quarterly Earnings per Share NYSE:FPI, XBUL:6A6, TSX:RCO.UN
Good Signs Mar Jun Sep Dec Full Year Insider Trades
2016 0.43 0.26 -0.12 0.04 0.61
Piotroski F-Score: High 2017 0.31 0.08 0.41 0.06 0.86
Revenue per Share: 2018 0.27 -0.50 0.14 0.50 0.41
Consistent growth 2019 0.23 0.28 0.19 0.59 1.29
2020
Operating Margin %:
Expansion Quarterly Dividends Per Share
Dividend Yield %: Close to 1- Mar Jun Sep Dec Full Year
year high 2016 0.00 0.00 0.00 0.00 0.00
2017 0.00 0.00 0.00 0.00 0.00
2018 0.00 0.00 0.00 0.00 0.00
DCF 2019 0.00 0.00 0.37 0.37 0.74
EPS without NRI: $1.29 2020
Growth Rate in the next 10 Growth Rate
years: 5%
Terminal Growth Rate for 10 Annual Rates(per share) 10-Y 5-Y 12-M
years: 4% Revenue Growth (%) 14.20 8.10 9.70
Fair Value: $13.81 EBITDA Growth (%) 16.50 10.20 17.70
Free Cash Flow Growth (%) 21.60 14.60 18.30
Reverse DCF Book Value Growth (%) 0.00 0.00 0.00
Expected eps Growth Rate: EPS Growth (%) 0.00 0.00 212.20
52.00%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBAC 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Revenue per Share
3.96 3.52 3.58 3.90 4.32 4.74 5.42 6.26 7.93 10.21 11.85 12.82 13.05 14.28 16.01 17.57 17.57
1.66 1.63 1.72 1.76 2.58 2.55 2.56 3.66 4.14 6.06 7.22 6.40 8.45 8.98 9.46 11.14 11.14 EBITDA per Share
-0.41 0.06 0.20 0.15 0.66 0.34 0.14 0.89 0.74 1.89 2.36 1.23 3.35 3.67 3.70 5.06 5.06 EBIT per Share
-2.52 -1.28 -1.36 -0.74 -0.61 -1.20 -1.68 -1.14 -1.51 -0.44 -0.19 -1.37 0.61 0.86 0.41 1.28 1.29 Earnings per Share (diluted)
-2.47 -1.28 -1.36 -0.74 -0.61 -1.20 -1.68 -1.14 -1.53 -0.44 -0.19 -1.37 0.61 0.86 0.41 1.28 1.29 eps without NRI
-2.38 -0.67 -0.17 0.68 1.12 1.00 0.32 1.06 1.13 2.70 3.76 2.57 4.44 4.88 4.29 6.49 6.49 Owner Earnings per Share (TTM)
0.12 0.41 0.48 0.91 1.25 1.50 1.16 1.09 1.91 2.57 3.59 4.03 4.82 5.55 6.02 7.11 7.11 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.74 0.74 Dividends per Share
-1.37 0.95 3.65 3.11 5.50 5.12 2.76 -0.10 5.14 2.78 -5.12 -13.57 -16.50 -22.32 -30.03 -31.97 -32.08 Book Value per Share
-1.39 0.58 -3.21 -4.91 -6.55 -7.15 -10.30 -15.05 -19.55 -23.59 -37.56 -43.28 -46.72 -53.22 -59.67 -63.59 -63.81 Tangible Book per Share
14.29 9.16 14.72 17.58 20.23 21.26 24.62 30.59 42.20 45.76 60.87 67.22 72.52 79.96 88.40 112 113 Total Debt per Share
9.28 17.90 27.50 33.84 16.32 34.16 40.94 42.96 70.98 89.84 111 105 103 163 162 241 285 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -57.11 -21.53 -13.60 -22.55 -42.50 -82.71 -56.43 -11.07 -- -- -- -- -- -- -- Return on Equity %
-15.50 -10.13 -8.90 -3.52 -2.40 -4.32 -5.80 -3.61 -3.54 -0.83 -0.33 -2.32 1.04 1.41 0.65 1.73 1.64 Return on Assets %
-2.98 0.56 2.08 1.33 5.36 2.68 1.09 6.40 4.20 9.18 11.39 5.67 15.02 15.83 15.38 14.23 12.11 Return on Capital %
-2.89 0.55 1.45 1.51 1.86 2.17 3.02 3.93 4.44 4.57 8.61 6.41 5.67 6.78 8.19 6.42 5.99 Return on Invested Capital %
7.96 15.06 16.84 13.05 8.96 8.65 8.37 5.60 6.51 6.76 4.80 5.78 5.93 6.63 5.08 3.88 3.33 Weighted Average Cost Of Capital (WACC) %
-- -- -- 5.35 6.45 7.41 7.90 7.26 6.12 5.31 4.65 3.97 3.85 3.61 3.94 3.45 3.31 Effective Interest Rate on Debt %
44.41 46.17 55.40 59.98 64.59 67.50 68.17 70.94 70.70 68.71 71.94 72.88 74.23 74.17 74.87 75.53 75.53 Gross Margin %
-10.32 1.61 5.56 7.36 9.82 11.46 14.40 17.66 20.33 21.29 24.11 25.58 26.37 29.38 31.21 31.36 31.36 Operating Margin %
-63.62 -36.43 -38.01 -19.08 -14.14 -25.36 -31.07 -18.11 -18.97 -4.28 -1.59 -10.72 4.67 6.00 2.54 7.30 7.30 Net Margin %
3.02 11.58 13.38 23.31 28.96 31.65 21.47 17.49 24.10 25.19 30.33 31.39 36.90 38.86 37.56 40.49 40.49 FCF Margin %
-10.46 9.63 4.03 5.65 3.68 4.16 8.92 -297 8.20 16.46 -11.90 -4.95 -4.40 -3.58 -2.94 -3.51 -3.51 Debt to Equity
-0.10 0.09 0.19 0.14 0.20 0.18 0.09 -0.00 0.10 0.05 -0.08 -0.23 -0.27 -0.36 -0.47 -0.38 -0.38 Total Equity to Total Asset
1.01 0.82 0.76 0.80 0.75 0.75 0.83 0.93 0.81 0.87 1.00 1.16 1.19 1.27 1.38 1.32 1.32 Total Debt to Total Asset
10.82 12.84 12.97 11.05 10.97 11.50 12.73 14.14 13.20 13.38 15.02 15.76 16.52 17.46 19.22 17.93 17.00 Gross Profit to Total Asset %
0.24 0.28 0.23 0.18 0.17 0.17 0.19 0.20 0.19 0.20 0.21 0.22 0.22 0.24 0.26 0.24 0.23 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.58 0.58 Dividend Payout Ratio
33.31 59.97 41.77 18.05 12.57 12.91 10.94 11.55 14.96 19.96 24.92 18.56 17.51 19.16 21.72 23.94 23.94 Days Sales Outstanding
43.13 48.70 25.18 25.38 19.45 18.64 21.68 22.94 36.16 21.73 36.50 22.26 24.56 27.26 26.71 23.58 23.58 Days Accounts Payable
-9.82 11.27 16.59 -7.33 -6.88 -5.73 -10.74 -11.39 -21.20 -1.77 -11.58 -3.70 -7.05 -8.10 -4.99 0.36 0.36 Cash Conversion Cycle
0.56 0.54 0.45 0.40 0.35 0.33 0.32 0.29 0.29 0.31 0.28 0.27 0.26 0.26 0.25 0.24 0.24 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBAC 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
231 260 351 408 475 556 627 698 954 1,305 1,527 1,638 1,633 1,728 1,866 2,015 2,015 Revenue
129 140 157 163 168 181 199 203 280 408 428 444 421 446 469 493 493 Cost of Goods Sold
103 120 195 245 307 375 427 495 675 897 1,099 1,194 1,212 1,281 1,397 1,522 1,522 Gross Profit
44.41 46.17 55.40 59.98 64.59 67.50 68.17 70.94 70.70 68.71 71.94 72.88 74.23 74.17 74.87 75.53 75.53 Gross Margin %
28.89 28.18 42.28 45.57 48.72 52.79 58.21 62.83 72.15 85.48 103 115 143 131 143 193 193 Selling, General, & Admin. Expense
97.80 87.67 133 169 211 259 279 309 408 533 627 660 638 643 672 697 697 Other Operating Expense
-23.88 4.20 19.51 30.05 46.62 63.65 90.24 123 194 278 368 419 431 508 582 632 632 Operating Income
-10.32 1.61 5.56 7.36 9.82 11.46 14.40 17.66 20.33 21.29 24.11 25.58 26.37 29.38 31.21 31.36 31.36 Operating Margin %
-- -- -- 10.18 6.88 1.12 0.43 0.14 1.13 1.79 0.68 3.89 10.93 11.34 6.73 5.50 5.50 Interest Income
-- -- -- -92.50 -139 -181 -210 -225 -266 -298 -320 -324 -331 -327 -379 -393 -393 Interest Expense
-- -- -- -82.32 -132 -180 -219 -234 -278 -312 -337 -339 -342 -337 -392 -410 -410 Net Interest Income
-119 -96.74 -152 -24.74 19.00 -24.65 -65.00 -14.48 -92.96 -23.12 -47.18 -247 -1.81 -53.44 -138 -34.73 -34.74 Other Income (Expense)
-- -- -- -- -- 0.25 -0.25 0.44 0.35 -- -- -- -- -- -- -0.29 -0.29 Other Income (Minority Interest)
-143 -92.54 -133 -77.01 -66.13 -141 -193 -125 -177 -57.22 -15.66 -167 87.30 117 51.68 187 187 Pre-Tax Income
-0.71 -2.10 -0.52 -0.87 -1.04 -0.49 -1.01 -2.11 -6.59 1.31 -8.64 -9.06 -11.07 -13.24 -4.23 -39.61 -39.61 Tax Provision
-0.50 -2.27 -0.39 -1.13 -1.57 -0.35 -0.52 -1.69 -3.72 2.29 -55.14 -5.44 12.67 11.32 8.19 21.19 21.19 Tax Rate %
-144 -94.65 -133 -77.88 -67.16 -141 -194 -127 -184 -55.91 -24.30 -176 76.24 104 47.45 147 147 Net Income (Continuing Operations)
-3.26 -0.06 -- -- -- -- -- -- 2.30 -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
-147 -94.71 -133 -77.88 -67.16 -141 -195 -126 -181 -55.91 -24.30 -176 76.24 104 47.45 147 147 Net Income
-63.62 -36.43 -38.01 -19.08 -14.14 -25.36 -31.07 -18.11 -18.97 -4.28 -1.59 -10.72 4.67 6.00 2.54 7.30 7.30 Net Margin %
-2.52 -1.28 -1.36 -0.74 -0.61 -1.20 -1.68 -1.14 -1.51 -0.44 -0.19 -1.37 0.61 0.86 0.41 1.30 1.30 EPS (Basic)
-2.52 -1.28 -1.36 -0.74 -0.61 -1.20 -1.68 -1.14 -1.51 -0.44 -0.19 -1.37 0.61 0.86 0.41 1.28 1.29 EPS (Diluted)
58.42 73.82 98.19 105 110 117 116 112 120 128 129 128 125 121 117 115 114 Shares Outstanding (Diluted
Average)
121 116 149 169 211 259 279 309 408 533 627 660 638 643 672 697 697 Depreciation, Depletion and
Amortization
96.92 120 169 185 284 299 295 409 498 774 931 817 1,057 1,087 1,103 1,277 1,277 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBAC 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
69.63 45.93 46.15 70.27 78.86 161 64.25 47.32 233 122 39.44 118 146 68.78 143 108 108 Cash And Cash Equivalents
-- 19.78 -- 55.14 0.16 5.35 4.02 5.77 5.47 5.45 5.55 0.71 -- -- -- -- -- Marketable Securities
69.63 65.71 46.15 125 79.02 167 68.27 53.09 239 128 44.99 119 146 68.78 143 108 108 Cash, Cash Equivalents, Marketable
Securities
21.13 42.72 40.18 20.18 16.35 19.64 18.78 22.10 39.10 71.34 104 83.33 78.34 90.67 111 132 132 Accounts Receivable
6.35 23.76 41.28 67.62 58.95 50.53 59.67 36.51 87.54 117 148 74.96 88.99 81.69 84.41 67.52 67.52 Other Current Assets
116 132 128 213 154 237 147 129 389 344 327 294 325 260 374 334 334 Total Current Assets
-- -- -- -- -- -- -- 49.53 52.94 52.80 44.10 8.14 -- -- -- -- -- Investments And Advances
20.66 22.55 40.95 64.93 103 118 143 -- -- -- -- -- -- -- -- -- -- Land And Improvements
-- -- -- 1,742 2,136 2,259 2,407 -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
30.22 25.55 27.39 28.88 29.56 22.80 24.05 2,618 3,793 3,862 4,246 4,419 4,614 4,826 5,006 5,216 5,216 Machinery, Furniture, Equipment
0.06 4.79 4.56 5.27 10.30 11.48 24.98 23.08 25.45 24.28 35.86 32.73 38.93 34.69 35.76 33.64 33.64 Construction In Progress
1,115 1,170 1,644 1,841 2,279 2,412 2,600 2,810 4,110 4,251 4,709 4,976 5,232 5,491 5,710 8,558 8,558 Gross Property, Plant and Equipment
-369 -442 -538 -649 -776 -915 -1,065 -1,226 -1,438 -1,672 -1,947 -2,194 -2,440 -2,679 -2,924 -3,191 -3,191 Accumulated Depreciation
746 728 1,106 1,192 1,503 1,497 1,534 1,583 2,671 2,578 2,762 2,782 2,792 2,812 2,786 5,367 5,367 Property, Plant and Equipment
1.37 31.49 725 869 1,425 1,436 1,500 1,640 3,134 3,387 4,190 3,735 3,657 3,598 3,331 3,627 3,627 Intangible Assets
53.88 60.52 87.87 110 126 144 219 204 369 421 518 493 587 650 722 432 432 Other Long Term Assets
917 953 2,046 2,384 3,208 3,314 3,400 3,606 6,616 6,783 7,841 7,313 7,361 7,320 7,214 9,760 9,760 Total Assets
15.20 18.67 10.80 11.36 8.96 9.22 11.85 12.76 27.69 24.30 42.85 27.11 28.32 33.33 34.31 31.85 31.85 Accounts Payable
-- -- -- -- -- -- -- 5.56 9.58 9.81 5.33 7.90 -- 7.13 7.93 9.60 9.60 Total Tax Payable
30.20 34.22 28.40 35.82 36.44 72.88 65.57 68.85 116 157 162 144 134 152 147 149 149 Accounts Payable & Accrued
Expense
3.25 -- -- -- 6.00 28.65 -- 5.00 475 482 32.50 20.00 627 20.00 942 769 769 Current Portion of Long-Term Debt
10.81 11.84 24.67 37.56 45.31 54.01 61.14 49.78 76.67 94.66 120 97.08 101 97.97 108 114 114 Current Deferred Revenue
10.81 11.84 24.67 37.56 45.31 54.01 61.14 49.78 76.67 94.66 120 97.08 101 97.97 108 114 114 DeferredTaxAndRevenue
6.74 6.09 5.29 2.79 2.85 3.18 3.88 3.25 196 14.01 16.92 12.06 11.24 8.84 9.80 16.95 16.95 Other Current Liabilities
51.00 52.14 58.35 76.17 90.59 159 131 127 864 748 331 273 873 279 1,206 1,048 1,048 Total Current Liabilities
924 784 1,555 1,905 2,386 2,460 2,827 3,349 4,881 5,395 7,828 8,432 8,148 9,291 8,997 9,812 9,812 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 2,279 2,279 Capital Lease Obligation
924 784 1,555 1,905 2,386 2,460 2,827 3,349 4,881 5,395 7,828 8,432 8,148 9,291 8,997 12,092 12,092 Long-Term Debt & Capital Lease
Obligation
-10.46 9.63 4.03 5.65 3.68 4.16 8.92 -297 8.20 16.46 -11.90 -4.95 -4.40 -3.58 -2.94 -3.51 -3.51 Debt to Equity
-- -- -- -- -- 0.92 13.02 -- -- -- -- -- -- -- -- -- -- Minority Interest
30.46 34.57 47.02 65.76 80.49 94.57 112 141 218 284 343 314 335 350 387 287 287 Other Long-Term Liabilities
1,006 871 1,660 2,047 2,557 2,714 3,070 3,618 5,963 6,426 8,502 9,019 9,357 9,919 10,591 13,427 13,427 Total Liabilities
0.65 0.86 1.06 1.08 1.18 1.17 1.15 1.10 1.27 1.28 1.29 1.26
1.16 1.21
1.12 1.12 1.12 Common Stock
-829 -924 -1,065 -1,234 -1,435 -1,628 -1,930 -2,281 -2,462 -2,518 -2,542 -3,168 -3,637 -4,388 -5,136 -5,561 -5,561 Retained Earnings
-- 14.46 -0.67 -1.28 -1.55 -2.80 2.18 0.49 2.79 -33.68 -182 -502 -370 -379 -512 -569 -569 Accumulated other comprehensive
income (loss)
740 990 1,451 1,572 2,086 2,228 2,243 2,268 3,111 2,907 2,063 1,963 2,011 2,167 2,270 2,461 2,461 Additional Paid-In Capital
-88.67 81.43 386 337 651 599 317 -11.31 653 357 -661 -1,706 -1,996 -2,599 -3,377 -3,667 -3,667 Total Equity
-0.10 0.09 0.19 0.14 0.20 0.18 0.09 -0.00 0.10 0.05 -0.08 -0.23 -0.27 -0.36 -0.47 -0.38 -0.38 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBAC 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-147 -94.71 -133 -77.88 -67.16 -141 -194 -127 -184 -55.91 -24.30 -176 76.24 104 47.45 147 147 Net Income
-- -- -- -- -- -- -- -- -- -- -17.89 -- -- -- -- -- -- Net Foreign Currency Exchange
Gain
-147 -94.71 -133 -77.88 -67.16 -141 -194 -127 -184 -55.91 -24.30 -176 76.24 104 47.45 147 147 Net Income From Continuing
Operations
121 116 149 169 211 259 279 309 408 533 627 660 638 643 672 697 697 Depreciation, Depletion and
Amortization
-10.05 -2.23 3.64 -1.18 14.41 -3.50 -5.92 -3.71 -18.80 -29.10 -36.25 15.98 -7.27 -20.89 -29.43 -12.15 -12.15 Change In Receivables
0.64 0.75 0.22 -18.32 -10.91 -8.55 -15.02 -27.43 -82.76 -81.46 -62.19 -62.93 -40.29 -16.89 -38.04 0.88 0.88 Change In Prepaid Assets
3.64 0.28 -7.36 3.65 -3.77 25.60 -6.61 3.87 21.34 7.71 5.48 7.37 -10.52 3.56 -3.02 -5.95 -5.95 Change In Payables And Accrued
Expense
-8.51 -1.30 -1.81 0.26 7.83 26.76 -17.18 -23.73 -35.83 -55.18 -26.13 -35.59 -35.61 -29.67 -46.91 -4.47 -4.47 Change In Working Capital
-- -- 0.05 0.20 0.16 -0.27 -0.74 -1.69 1.36 -6.64 0.53 -0.01 1.41 -- -- 15.94 15.94 Change In DeferredTax
-- -- -- 6.61 7.21 8.20 10.50 11.47 13.97 17.21 22.67 28.75 32.92 38.25 42.33 73.21 73.21 Stock Based Compensation
49.21 29.82 62.02 8.95 0.04 66.56 118 75.28 130 40.96 56.11 156 3.68 30.71 109 8.77 8.77 Cash Flow from Others
14.22 49.77 75.96 123 174 223 201 249 343 498 674 723 743 818 851 970 970 Cash Flow from Operations
-7.21 -19.65 -28.97 -27.77 -36.17 -46.74 -66.62 -127 -113 -169 -211 -209 -140 -147 -150 -154 -154 Purchase Of Property, Plant,
Equipment
1.50 1.34 0.27 0.13 0.05 0.61 0.05 0.12 -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -201 -584 -181 -328 -379 -2,253 -677 -1,585 -610 -277 -442 -452 -774 -774 Purchase Of Business
-- -- -- -- -- -- -- -- 100.00 -- -- -- -- -- -- -- -- Sale Of Business
-- -34.63 -- -208 -- -9.16 -36.87 -6.33 -- -- -- -- -0.10 -0.40 -157 -639 -639 Purchase Of Investment
-- 15.00 19.90 138 41.04 0.98 7.11 -- -- -- 20.89 89.73 0.71 0.23 151 626 626 Sale Of Investment
7.04 -61.34 -731 -2.08 -0.98 6.04 -0.67 4.58 -3.13 29.07 11.46 -8.56 -12.03 -16.35 -10.61 -5.81 -5.81 Cash From Other Investing Activities
1.33 -99.28 -740 -302 -581 -229 -425 -508 -2,269 -817 -1,764 -737 -428 -605 -618 -947 -947 Cash Flow from Investing
2.13 232 10.49 7.75 6.50 7.05 -- -- 284 -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -0.71 -91.24 -120 -51.72 -107 -225 -- -- -- -450 -546 -855 -796 -467 -467 Repurchase of Stock
43.62 -203 682 264 476 35.55 222 453 1,802 113 1,900 664 249 511 592 373 373 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -83.39 -- Cash Flow for Dividends
-- -3.16 -27.26 22.31 52.92 98.11 11.83 14.10 24.39 98.17 -905 -138 8.39 49.09 55.36 115 31.21 Other Financing
45.75 25.82 664 203 415 88.98 127 242 2,110 211 995 75.75 -289 -295 -149 -62.31 -62.31 Cash Flow from Financing
61.29 -23.69 0.21 24.12 8.58 82.46 -97.06 -16.94 186 -111 -80.51 48.72 39.35 -81.68 74.01 -37.18 -37.18 Net Change in Cash
-7.21 -19.65 -28.97 -27.77 -36.17 -46.74 -66.62 -127 -113 -169 -211 -209 -140 -147 -150 -154 -154 Capital Expenditure
7.00 30.12 46.99 95.16 138 176 135 122 230 329 463 514 603 671 701 816 816 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBAC 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- -- -- -- 169 190 395 187 221 PE Ratio(TTM)
-- -- -- 49.91 14.62 34.19 130 40.41 62.76 33.25 29.50 40.95 23.24 33.50 37.70 37.16 43.95 Price to Owner Earnings
(TTM)
-- 18.82 7.53 10.87 2.97 6.68 14.82 -- 13.80 32.33 -- -- -- -- -- -- -- Price to Book
-- 30.70 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Price to Tangible Book
71.94 43.34 58.51 37.31 12.98 22.76 35.17 39.27 37.32 35.52 31.46 26.16 21.39 29.43 27.07 33.88 40.07 Price-to-Free-Cash-Flow
Ratio
37.12 26.48 35.95 28.87 10.29 17.98 23.52 19.23 25.00 23.44 21.54 18.62 17.36 24.15 22.31 28.49 33.70 Price-to-Operating-Cash-
Flow Ratio
2.36 5.08 7.72 8.68 3.78 7.20 7.55 6.86 8.99 8.95 9.50 8.21 7.90 11.44 10.18 13.72 16.23 PS Ratio
-- -- -- -- -- -- -- -- -- -- -- -- 9.43 13.84 42.09 17.84 21.67 PEG Ratio
6.31 8.66 12.57 13.34 8.93 11.38 11.93 11.48 14.81 13.25 14.49 13.15 12.93 16.36 15.01 20.00 22.17 EV-to-Revenue
14.55 18.74 27.43 29.42 14.94 21.17 25.31 19.60 28.38 22.33 23.75 26.36 19.99 26.01 25.39 31.55 34.97 EV-to-EBITDA
-71.50 537 426 352 58.52 158 451 80.33 158 71.76 72.75 137 50.45 63.73 65.03 69.46 76.98 EV-to-EBIT
-1.40 0.19 0.23 0.28 1.71 0.63 0.22 1.24 0.63 1.39 1.37 0.73 1.98 1.57 1.54 1.44 1.30 Return on Capital %
-18.68 11.67 9.13 16.70 11.85 14.64 16.08 17.03 18.59 20.12 21.81 22.43 21.10 16.16 12.27 12.71 12.36 Forward Rate of Return
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.31 0.28 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
602 1,533 2,906 3,668 1,930 4,000 4,701 4,712 9,010 11,538 14,303 13,212 12,495 19,023 18,202 27,640 31,905 Market Cap
1,460 2,251 4,415 5,447 4,244 6,323 7,473 8,013 14,127 17,287 22,119 21,545 21,124 28,265 27,997 40,392 44,658 Enterprise Value
9.28 17.90 27.50 33.84 16.32 34.16 40.94 42.96 70.98 89.84 111 105 103 163 162 241 285 Month End Stock Price
-14.43 -9.41 -15.28 -17.73 -20.95 -21.76 -26.25 -32.50 -45.10 -49.04 -65.49 -70.78 -76.12 -84.59 -92.92 -116 -117 Net Cash (per share)
-13.71 -8.63 -14.50 -16.92 -20.32 -21.16 -25.57 -31.81 -43.91 -47.36 -63.31 -69.39 -74.64 -82.96 -90.87 -114 -115 Net Current Asset Value
(per share)
-14.18 -9.03 -14.99 -17.59 -20.85 -21.64 -26.13 -32.35 -44.87 -48.63 -64.88 -70.29 -75.63 -84.01 -92.18 -115 -116 Net-Net Working Capital (per
share)
-21.43 -10.19 -1.72 3.53 8.48 12.03 14.36 15.99 21.63 24.00 21.50 18.32 25.18 31.22 23.09 31.10 31.10 Projected FCF (per share)
-- -- -- -- -- 24.01 27.45 37.85 53.86 73.62 89.12 104 108 120 140 162 162 Median PS (per share)
-38.92 -24.85 -11.04 -11.75 -5.13 -14.56 -22.80 -16.28 -25.04 -8.25 -4.67 -30.65 10.95 11.80 3.85 13.51 13.51 Peter Lynch Fair Value (per
share)
-39.61 -22.27 -20.60 -19.44 -20.31 -18.97 -21.51 -26.19 -34.95 -37.09 -49.65 -51.92 -50.02 -52.14 -50.54 -72.06 -72.06 Earnings Power Value
(EPV)
-1.06 -0.25 0.56 0.48 0.07 0.43 0.33 0.18 0.49 0.80 0.88 0.57 0.43 0.74 0.35 0.75 0.94 Altman Z-Score
5.00 7.00 4.00 6.00 5.00 4.00 5.00 6.00 3.00 5.00 6.00 5.00 8.00 7.00 6.00 8.00 8.00 Piotroski F-Score
-2.99 -1.85 -1.59 -3.24 -2.92 -2.82 -2.98 -2.84 -2.09 -2.19 -2.55 -3.15 -3.02 -2.76 -2.77 -2.75 -2.75 Beneish M-Score
0.78 0.87 1.99 1.04 1.24 0.91 0.93 0.97 1.60 0.92 1.06 0.85 0.91 0.90 0.88 1.26 0.99 Scaled Net Operating
Assets
-17.75 -4.74 25.92 4.24 10.59 -4.05 0.86 3.67 26.37 3.89 13.59 -2.21 -3.23 -1.50 -2.56 1.27 1.27 Sloan Ratio (%)
2.28 2.54 2.19 2.80 1.70 1.49 1.12 1.02 0.45 0.46 0.99 1.08 0.37 0.93 0.31 0.32 0.32 Current Ratio
2.28 2.54 2.19 2.80 1.70 1.49 1.12 1.02 0.45 0.46 0.99 1.08 0.37 0.93 0.31 0.32 0.32 Quick Ratio
10.62 19.19 29.07 38.30 37.89 35.50 40.96 44.26 70.98 91.83 122 128 118 172 175 269 310 Highest Stock Price
3.22 8.14 17.90 26.23 10.64 16.32 31.54 32.82 42.96 67.45 87.40 100 84.96 103 147 161 179 Lowest Stock Price
-17.97 -31.91 -23.43 -2.56 -9.13 1.01 1.92 4.49 -15.74 -1.18 -0.55 2.63 3.77 3.77 3.45 -2.01 -1.66 Shares Buyback Ratio (%)
7.66 -11.11 1.53 8.98 10.91 9.69 14.34 15.40 26.79 28.76 15.98 8.24 1.79 9.39 12.16 9.71 10.48 YoY Rev. per Sh. Growth
(%)
25.00 49.21 -6.25 45.59 17.57 -96.72 -40.00 32.14 -32.46 70.86 56.82 -621 145 40.98 -52.33 212 215 YoY EPS Growth (%)
43.26 -1.87 5.53 2.68 46.49 -1.35 0.24 43.41 12.94 46.45 19.19 -11.46 32.06 6.32 5.40 17.67 18.86 YoY EBITDA Growth (%)
16.15 19.26 8.24 15.67 8.41 12.13 13.57 14.28 16.65 18.33 26.76 22.21 17.95 13.72 9.38 10.47 10.20 EBITDA 5-Y Growth (%)
58.42 73.82 98.19 105 110 117 116 112 120 128 129 128 124 120 115 113 112 Shares Outstanding (Basic
Average)
64.90 85.62 106 108 118 117 115 110 127 128 129 126 121 116 112 115 112 Shares Outstanding (EOP)
2.63 3.20 3.07 2.46 1.59 0.92 0.86 0.41 0.75 0.68 0.49 0.81 0.84 0.97 0.54 0.38 0.39 Beta
03/16/05 03/10/06 03/01/07 02/28/08 02/27/09 03/01/10 02/25/11 02/27/12 02/27/13 02/27/14 03/02/15 02/26/16 03/01/17 03/01/18 02/28/19 02/24/20 Filing Date
03/10/06 03/01/07 03/01/07 02/27/09 03/01/10 02/25/11 02/27/13 02/27/14 03/02/15 02/26/16 03/01/17 03/01/18 02/28/19 02/24/20 02/24/20 02/24/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBAC 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBAC 7/7
AIOI Smith Corp (NYSE:AOS) 03/02/2020 4:10PM EST GuruFocus
Price: $ 41I00 +1I45(+3I67%) Market Cap: $ 6.64 B Enterprise Value: $6.41 B Stock PDF
Financial Strength : 8/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 18.39
Cash to Debt 1.71 Operating margin (%) 15.54
Forward P/E N/A
Equity to Asset 0.55 Net-margin (%) 12.36
PE(NRI) 18.39
Interest Coverage 42.28 ROE (%) 21.73
F-Score:
P/B 4.01
ROA (%) 11.92
4 P/S 2.28
Z-Score: ROC (Joel Greenblatt) (%) 57.79
5.72 PFCF 17.34
Revenue Growth (3Y)(%) 5.70
M-Score: POCF 14.91
-2.69 EBITDA Growth (3Y)(%) 3.60
EV-to-EBIT 13.27
WACC vs 10.20% EPS Growth (3Y)(%) 6.30
ROIC 25.24% PEG 1.56
WACC
ROIC Shiller P/E 25.48
Current Ratio 1.96
Quick Ratio 1.56
Days Inventory 62.87
Days Sales Outstanding 71.90
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year A.O. Smith Corporation manufactures and markets comprehensive lines of residential and commercial gas, gas
Revenue per Share: Declined
tankless, and electric water heaters. Supplementary products include water heating equipment, condensing and
2016 637 667 684 698 2,686 noncondensing boilers, and water system tanks. The company's two operating segments are by geographic region:
Insider Sell: Insider Selling North America (majority of total revenue) and Rest of World. A material portion of sales in North America derive from
2017 740 738 750 769 2,997
replacing existing products, and the company utilizes a wholesale distribution channel and multiple selling locations.
2018 788 833 754 813 3,188 The Rest of World segment sells primarily to Asian countries, and operates sales offices to expand distribution and
Good Signs 2019 748 765 728 751 2,993 market its product portfolio.... (Read More)
2020 Competitors: SZSE:300308 , NYSE:GNRC, BOM:500550 , NYSE:PNR, SHSE:601100 , TSE:6465 ,
Operating Margin %: SZSE:002008, SZSE:300450, OHEL:WRT1V, XKRX:009540, NYSE:DCI, NYSE:GDI, TSE:6383, SZSE:002202,
Expansion Quarterly Earnings per Share NYSE:ITT, NAS:MIDD, NYSE:CW, TSE:7911, OSTO:BEIJ B, SZSE:002050
Dividend Yield %: Close to Mar Jun Sep Dec Full Year Insider Trades
10-year high 2016 0.41 0.49 0.47 0.47 1.84
2017 0.50 0.53 0.54 0.13 1.70
PB Ratio: Close to 5-year low 2018 0.57 0.66 0.61 0.74 2.58
PS Ratio: Close to 5-year low 2019 0.53 0.61 0.53 0.56 2.23
2020
DCF Quarterly Dividends Per Share
GuruFocus does not Mar Jun Sep Dec Full Year
calculate intrinsic value: DCF 2016 0.12 0.12 0.12 0.12 0.48
(Earnings Based) for 2017 0.14 0.14 0.14 0.14 0.56
companies with one star 2018 0.18 0.18 0.18 0.22 0.76
predictability or not rated. But 2019 0.22 0.22 0.22 0.24 0.90
you can go to each stock's 2020
DCF page to calculate Growth Rate
yourself.
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 8.60 7.60 -3.00
Reverse DCF
EBITDA Growth (%) 17.80 11.80 -9.10
GuruFocus does not
calculate reverse DCF growth Free Cash Flow Growth (%) 24.50 14.90 11.30
rate for companies with one Book Value Growth (%) 10.10 6.10 2.20
star predictability or not rated. EPS Growth (%) 22.80 14.40 -14.00
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AOS 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9.21 9.30 11.62 12.44 12.68 9.97 8.07 9.18 10.41 11.61 12.95 14.17 15.19 17.16 18.51 17.95 17.95 Revenue per Share
0.65 0.84 1.08 1.04 1.08 1.00 0.66 1.17 1.60 1.63 1.94 2.64 3.03 3.44 3.71 3.37 3.37 EBITDA per Share
0.35 0.55 0.75 0.68 0.71 0.72 0.44 0.92 1.31 1.31 1.61 2.29 2.66 3.04 3.29 2.90 2.90 EBIT per Share
0.20 0.26 0.41 0.48 0.45 0.59 0.61 1.64 0.86 0.92 1.14 1.58 1.85 1.70 2.58 2.22 2.23 Earnings per Share (diluted)
0.20 0.26 0.41 0.48 0.45 0.37 0.31 0.60 0.88 0.92 1.14 1.58 1.85 1.70 2.58 2.22 2.23 eps without NRI
0.15 0.80 0.44 0.78 0.18 0.58 0.29 1.21 0.72 1.04 0.93 1.58 2.09 0.92 2.16 2.29 2.29 Owner Earnings per Share (TTM)
0.10 0.75 0.39 0.64 0.22 1.60 0.39 0.03 0.40 0.98 0.98 1.56 2.07 1.33 2.11 2.35 2.37 Free Cashflow per Share
0.10 0.11 0.11 0.12 0.12 0.13 0.14 0.15 0.18 0.23 0.30 0.38 0.48 0.56 0.76 0.90 0.90 Dividends per Share
3.32 3.36 3.72 4.20 3.54 4.23 4.14 5.12 6.46 7.28 7.73 8.20 8.74 9.58 10.00 10.22 10.22 Book Value per Share
1.56 1.59 0.53 0.88 0.32 1.84 2.12 1.41 2.27 3.13 3.60 4.15 4.13 4.77 5.31 4.80 4.80 Tangible Book per Share
1.58 0.93 2.39 2.19 1.85 1.39 1.23 2.18 1.32 1.05 1.25 1.42 1.87 2.39 1.29 1.98 1.98 Total Debt per Share
4.99 5.85 6.26 5.84 4.92 7.23 9.52 10.03 15.77 26.97 28.21 38.31 47.35 61.28 42.70 47.64 41.00 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6.07 7.73 11.79 12.23 11.71 11.52 13.52 31.08 13.92 13.45 15.34 20.04 22.08 18.76 26.43 21.87 21.73 Return on Equity %
2.73 3.57 4.88 4.77 4.38 4.21 5.47 13.71 6.86 7.27 8.47 11.00 11.83 9.74 14.17 12.07 11.92 Return on Assets %
9.31 15.53 20.89 21.98 30.79 29.65 32.05 51.53 53.16 46.38 50.96 69.84 87.70 88.45 78.76 63.16 57.79 Return on Capital %
5.52 8.45 10.96 12.00 10.14 7.15 9.05 9.90 14.78 17.81 19.85 26.60 29.93 25.01 34.75 26.69 25.24 Return on Invested Capital %
4.97 10.99 9.06 2.34 3.89 6.63 7.71 7.50 7.87 10.80 10.42 11.56 11.28 10.01 10.33 11.11 10.20 Weighted Average Cost Of Capital (WACC) %
-- -- -- 6.40 5.26 2.45 2.68 2.57 2.61 2.62 2.74 3.13 2.55 2.75 2.66 4.04 3.38 Effective Interest Rate on Debt %
18.03 20.84 21.46 22.20 21.58 28.72 29.95 29.97 33.62 35.93 36.47 39.81 41.48 41.13 40.95 39.45 39.45 Gross Margin %
3.76 5.93 6.47 6.50 6.08 7.50 7.88 8.17 10.39 11.57 12.19 15.73 16.82 17.01 17.31 15.54 15.54 Operating Margin %
2.14 2.75 3.54 3.81 3.55 5.91 7.50 17.87 8.18 7.88 8.82 11.15 12.16 9.89 13.93 12.36 12.36 Net Margin %
1.10 8.06 3.39 5.15 1.76 16.01 4.79 0.30 3.81 8.45 7.55 11.00 13.62 7.75 11.41 13.09 13.09 FCF Margin %
0.48 0.28 0.64 0.52 0.52 0.33 0.30 0.43 0.20 0.14 0.16 0.17 0.21 0.25 0.13 0.19 0.19 Debt to Equity
0.45 0.47 0.37 0.41 0.34 0.39 0.42 0.46 0.52 0.56 0.55 0.55 0.52 0.51 0.56 0.55 0.55 Total Equity to Total Asset
0.21 0.13 0.24 0.21 0.18 0.13 0.12 0.20 0.11 0.08 0.09 0.10 0.11 0.13 0.07 0.11 0.11 Total Debt to Total Asset
22.98 27.01 29.62 27.79 26.62 20.47 21.83 22.98 28.18 33.14 35.02 39.26 40.37 40.48 41.65 38.53 38.05 Gross Profit to Total Asset %
1.28 1.30 1.38 1.25 1.23 0.71 0.73 0.77 0.84 0.92 0.96 0.99 0.97 0.98 1.02 0.98 0.96 Asset Turnover
0.53 0.42 0.27 0.25 0.27 0.35 0.44 0.25 0.21 0.25 0.26 0.24 0.26 0.33 0.30 0.41 0.41 Dividend Payout Ratio
62.18 60.24 63.95 -- -- -- -- 78.61 80.07 77.73 73.65 72.15 70.49 72.19 74.11 71.90 71.90 Days Sales Outstanding
42.77 55.98 61.63 62.01 55.47 88.19 92.01 92.17 93.26 102 96.04 102 123 111 105 103 103 Days Accounts Payable
64.71 62.63 56.20 56.73 54.91 73.09 45.01 48.02 47.04 47.19 48.98 51.55 55.04 56.70 58.34 61.21 62.87 Days Inventory
84.12 66.89 58.52 -5.28 -0.56 -15.10 -47.00 34.46 33.85 22.53 26.59 22.12 2.77 18.21 27.01 30.46 32.12 Cash Conversion Cycle
5.64 5.83 6.49 6.43 6.65 4.99 8.11 7.60 7.76 7.74 7.45 7.08 6.63 6.44 6.26 5.96 5.81 Inventory Turnover
0.82 0.79 0.79 0.78 0.78 0.71 0.70 0.70 0.66 0.64 0.64 0.60 0.59 0.59 0.59 0.61 0.61 COGS to Revenue
0.15 0.14 0.12 0.12 0.12 0.14 0.09 0.09 0.09 0.08 0.09 0.09 0.09 0.09 0.09 0.10 0.10 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AOS 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,653 1,689 2,161 2,312 2,305 1,375 1,489 1,711 1,939 2,154 2,356 2,537 2,686 2,997 3,188 2,993 2,993 Revenue
1,355 1,337 1,697 1,799 1,807 980 1,043 1,198 1,287 1,380 1,497 1,527 1,572 1,764 1,882 1,812 1,812 Cost of Goods Sold
298 352 464 513 498 395 446 513 652 774 859 1,010 1,114 1,232 1,306 1,181 1,181 Gross Profit
18.03 20.84 21.46 22.20 21.58 28.72 29.95 29.97 33.62 35.93 36.47 39.81 41.48 41.13 40.95 39.45 39.45 Gross Margin %
236 252 324 363 357 292 329 373 451 525 572 611 663 723 754 716 716 Selling, General, & Admin. Expense
-0.00 -0.00 -0.00 -0.00 0.00 -0.00 0.00 -- -- -0.00 -0.00 -0.00 0.00 0.00 -- -- -- Other Operating Expense
62I20 100 140 150 140 103 117 140 202 249 287 399 452 510 552 465 465 Operating Income
3.76 5.93 6.47 6.50 6.08 7.50 7.88 8.17 10.39 11.57 12.19 15.73 16.82 17.01 17.31 15.54 15.54 Operating Margin %
-- -- -- -26.70 -19.20 -7.20 -6.90 -9.30 -9.20 -5.70 -5.70 -7.40 -7.30 -10.10 -8.40 -11.00 -11.00 Interest Expense
-- -- -- -26.70 -19.20 -7.20 -6.90 -9.30 -9.20 -5.70 -5.70 -7.40 -7.30 -10.10 -8.40 -11.00 -11.00 Net Interest Income
-14.70 -31.50 -35.10 -23.80 -10.80 -4.10 -36.00 31.00 41.50 -7.20 5.20 10.80 18.10 21.30 14.50 18.00 18.00 Other Income (Expense)
-- -- -- -- -- -8.30 0.20 -- -- -- -- -- -- -- -- -- -- Other Income (Minority Interest)
47I50 68I70 105 99I90 110 91I80 74I40 162 234 236 287 403 463 521 558 472 472 Pre-Tax Income
-12.10 -22.20 -28.60 -11.70 -27.90 -30.90 -17.30 -50.30 -71.20 -66.70 -78.90 -120 -136 -224 -114 -102 -102 Tax Provision
25.47 32.31 27.29 11.71 25.34 33.66 23.25 31.15 30.45 28.21 27.52 29.71 29.41 43.07 20.37 21.63 21.63 Tax Rate %
35.40 46.50 76.20 88.20 81.90 60.50 57.10 111 163 170 208 283 327 297 444 370 370 Net Income (Continuing Operations)
-- -- 0.30 -- -- 29.10 54.40 195 -3.90 -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
35I40 46I50 76I50 88I20 81I90 81I30 112 306 159 170 208 283 327 297 444 370 370 Net Income
2.14 2.75 3.54 3.81 3.55 5.91 7.50 17.87 8.18 7.88 8.82 11.15 12.16 9.89 13.93 12.36 12.36 Net Margin %
0.20 0.26 0.42 0.48 0.45 0.59 0.61 1.66 0.86 0.92 1.15 1.59 1.87 1.72 2.60 2.24 2.23 EPS (Basic)
0.20 0.26 0.41 0.48 0.45 0.59 0.61 1.64 0.86 0.92 1.14 1.58 1.85 1.70 2.58 2.22 2.23 EPS (Diluted)
179 182 186 186 182 138 185 186 186 186 182 179 177 175 172 167 164 Shares Outstanding (Diluted
Average)
53.90 52.80 60.90 67.50 66.30 38.30 40.80 47.00 54.60 59.70 59.80 63.00 65.10 70.10 71.90 78.30 78.30 Depreciation, Depletion and
Amortization
116 153 201 194 196 137 122 218 298 302 352 473 535 601 638 561 561 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AOS 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
25.10 24.00 25.80 37.20 29.40 76.30 119 463 267 381 319 324 330 347 260 374 374 Cash And Cash Equivalents
-- -- -- -- -- -- -- 162 196 105 223 322 424 473 385 177 177 Marketable Securities
25.10 24.00 25.80 37.20 29.40 76.30 119 626 463 486 542 645 755 820 645 551 551 Cash, Cash Equivalents, Marketable
Securities
282 279 379 -- -- -- -- 368 425 459 475 501 519 593 647 590 590 Accounts Receivable
81.70 86.00 111 113 125 66.20 82.70 98.90 100.00 114 121 140 142 161 174 168 168 Inventories, Raw Materials &
Components
57.70 48.50 66.40 50.00 55.70 11.30 14.40 10.60 12.00 12.30 10.70 13.40 13.00 18.30 23.30 21.70 21.70 Inventories, Work In Process
-47.50 -55.00 -70.80 -78.90 -120 -21.10 -23.00 -26.70 -23.00 -21.30 -23.90 -15.80 -18.40 -22.20 -30.60 -23.80 -23.80 Inventories, Inventories
Adjustments
142 146 191 178 222 54.10 72.70 85.60 74.40 88.80 100 85.70 114 140 138 137 137 Inventories, Finished Goods
-- 0.00 -- -0.00 -- -- -- -- -- 0.00 0.00 0.00 -- -0.00 -- -- -- Inventories, Other
234 225 297 262 282 111 147 168 163 193 208 223 251 297 305 303 303 Total Inventories
46.00 47.80 58.20 53.50 106 278 317 46.10 62.90 67.50 93.40 33.80 37.60 57.20 41.50 56.50 56.50 Other Current Assets
586 576 760 768 781 740 896 1,209 1,115 1,206 1,319 1,403 1,562 1,767 1,639 1,500 1,500 Total Current Assets
9.30 9.30 12.40 12.50 11.60 9.70 9.20 11.70 11.60 11.30 11.20 10.80 11.00 11.20 11.20 11.60 11.60 Land And Improvements
137 149 177 189 183 117 122 167 194 213 231 238 286 330 323 334 334 Buildings And Improvements
607 621 696 752 785 371 394 436 475 535 574 618 635 719 762 811 811 Machinery, Furniture, Equipment
774 805 919 954 980 498 525 614 681 759 816 867 933 1,060 1,097 1,204 1,204 Gross Property, Plant and Equipment
-415 -448 -491 -533 -561 -249 -267 -299 -335 -368 -388 -424 -471 -531 -557 -612 -612 Accumulated Depreciation
359 357 427 421 419 249 258 315 346 391 428 443 462 529 540 592 592 Property, Plant and Equipment
313 324 588 600 583 436 430 787 774 758 737 712 800 825 806 884 884 Intangible Assets
-- 313 500 513 505 320 324 434 435 434 429 421 492 517 513 546 546 Goodwill
55.80 36.30 65.20 66.20 100 550 527 38.50 44.40 36.30 31.30 71.30 67.30 76.20 86.90 80.90 80.90 Other Long Term Assets
1,314 1,293 1,840 1,854 1,884 1,975 2,112 2,349 2,279 2,392 2,515 2,629 2,891 3,197 3,072 3,058 3,058 Total Assets
159 205 287 306 275 237 263 303 329 387 394 425 529 535 544 510 510 Accounts Payable
-- -- -- 3.40 6.00 6.50 5.70 -- -- -- -- -- -- -- -- -- -- Total Tax Payable
219 283 391 420 374 444 471 462 488 577 592 640 758 786 785 760 760 Accounts Payable & Accrued
Expense
8.60 6.90 6.90 15.60 17.50 21.10 18.60 18.60 18.60 14.20 13.70 12.90 7.20 7.50 -- 6.80 6.80 Current Portion of Long-Term Debt
18.60 17.30 39.30 37.30 113 26.10 46.80 31.50 -- -0.00 -- 0.00 -- -- -- -- -- Other Current Liabilities
246 308 437 473 505 491 537 512 506 591 605 653 766 794 785 767 767 Total Current Liabilities
273 162 432 380 317 232 242 443 225 178 210 236 316 403 221 277 277 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 38.70 38.70 Capital Lease Obligation
273 162 432 380 317 232 242 443 225 178 210 236 316 403 221 316 316 Long-Term Debt & Capital Lease
Obligation
0.48 0.28 0.64 0.52 0.52 0.33 0.30 0.43 0.20 0.14 0.16 0.17 0.21 0.25 0.13 0.19 0.19 Debt to Equity
-- -- -- 55.40 279 248 237 151 201 121 143 134 109 48.10 49.40 27.80 27.80 PensionAndRetirementBenefit
11.60 -- 20.60 -- -- -- -- 3.10 6.30 21.00 21.40 -- -- -- -- -- -- NonCurrent Deferred Liabilities
-- -- -- -- -- 19.10 -- -- -- -- -- -- -- -- -- -- -- Minority Interest
193 210 265 189 141 213 215 154 146 153 155 163 185 308 298 281 281 Other Long-Term Liabilities
723 680 1,155 1,097 1,243 1,185 1,231 1,263 1,085 1,063 1,134 1,187 1,376 1,553 1,355 1,391 1,391 Total Liabilities
66.60 66.50 65.70 65.60 65.70 79.20 77.60 76.70 149 149 148 296 296 296 296 295 295 Common Stock
648 676 732 799 859 365 452 730 855 982 1,136 1,351 1,593 1,789 2,103 2,323 2,323 Retained Earnings
-116 -136 -130 -99.30 -282 -231 -229 -301 -321 -259 -272 -313 -363 -300 -351 -348 -348 Accumulated other comprehensive
income (loss)
70.80 65.90 71.40 76.70 79.20 637 656 653 581 590 600 469 478 487 497 509 509 Additional Paid-In Capital
-79.50 -59.00 -55.30 -84.20 -80.70 -79.90 -74.60 -72.40 -69.60 -133 -231 -361 -488 -627 -827 -1,113 -1,113 Treasury Stock
591 613 685 758 641 771 881 1,086 1,194 1,329 1,381 1,442 1,515 1,645 1,717 1,667 1,667 Total Equity
0.45 0.47 0.37 0.41 0.34 0.39 0.42 0.46 0.52 0.56 0.55 0.55 0.52 0.51 0.56 0.55 0.55 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AOS 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
35.40 46.50 76.20 88.20 81.90 60.50 57.10 111 163 170 208 283 327 297 444 370 370 Net Income
35.40 46.50 76.20 88.20 81.90 60.50 57.10 111 163 170 208 283 327 297 444 370 370 Net Income From Continuing
Operations
53.90 52.80 60.90 67.50 66.30 38.30 40.80 47.00 54.60 59.70 59.80 63.00 65.10 70.10 71.90 78.30 78.30 Depreciation, Depletion and
Amortization
-44.90 7.60 -15.70 -36.50 -- -- -33.20 -- -57.00 -32.30 -16.80 -25.90 -15.10 -75.80 -54.60 62.40 -- Change In Receivables
12.90 12.10 -28.60 32.10 -- -- -32.00 -- 5.00 -28.50 -14.90 -14.70 -23.40 -37.50 -7.70 6.30 -- Change In Inventory
14.30 43.50 31.20 19.00 -- -- 29.20 -- 16.20 88.80 1.80 62.00 110 7.10 5.30 -21.20 -- Change In Payables And Accrued
Expense
-25.50 85.50 -11.40 34.80 -41.60 23.20 -46.30 -81.10 -33.10 14.20 -41.20 -3.10 45.60 -132 -77.30 -5.40 -5.40 Change In Working Capital
-- -- -- -- -- -- -- -- -- -- -- -- -- 81.80 -- -- -- Change In DeferredTax
-- -- -- -- -- -- -- -- -- 10.50 10.80 8.80 9.40 9.90 10.10 13.30 13.30 Stock Based Compensation
3.40 1.90 3.10 -- -0.00 0.90 11.70 -15.50 -12.30 28.10 28.60 1.30 1.20 -0.00 0.00 -0.00 0.00 Cash Flow from Others
66I60 187 141 191 107 263 125 58I70 144 280 264 352 447 326 456 Cash Flow from Operations
449 456
-48.40 -50.60 -68.20 -71.40 -66.10 -42.70 -53.50 -53.50 -69.90 -97.70 -86.10 -72.70 -80.70 -94.20 -85.20 -64.40 -64.40 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -71.40 -11.80 -421 -13.50 -4.00 -- -- -90.80 -43.10 -- -107 -- Purchase Of Business
-- -- -- -- -- 2.00 3.00 -- -- -- -- -- -- -- -- -- -- Sale Of Business
-- -- -41.00 -- -- -- -- -- -311 -133 -322 -429 -564 -584 -523 -273 -273 Purchase Of Investment
-- -- 53.20 -- 12.00 8.90 4.60 -- 308 226 202 315 435 563 596 478 478 Sale Of Investment
-- -- -- -- -- -6.70 -8.80 600 -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-2.30 -19.30 -341 -- -0.00 -7.10 0.00 -- -- -- -0.00 0.00 -0.00 -- -- -- -107 Cash From Other Investing Activities
-50I70 -69I90 -397 -71I40 -54I10 -117 -66I50 126 -86I80 -8I20 -206 -186 -300 -158 -12I70 33I90 33I90 Cash Flow from Investing
3.00 12.90 8.30 11.40 -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -36.60 -- -- -- -23.50 -22.00 -73.70 -104 -128 -135 -139 -203 -288 -288 Repurchase of Stock
5.70 -112 269 -61.00 -40.10 -91.10 5.00 200 -219 -51.50 34.20 28.10 74.10 86.50 -189 62.60 62.60 Net Issuance of Debt
-18.20 -19.00 -20.10 -21.50 -22.30 -21.40 -24.70 -27.70 -33.20 -42.60 -54.40 -67.80 -84.20 -96.90 -130 -149 -149 Cash Flow for Dividends
-- -- -- 11.40 2.10 7.60 4.00 11.20 20.50 10.20 4.70 6.40 5.70 -2.60 -1.40 -1.50 -1.50 Other Financing
-9I50 -118 257 -108 -60I30 -105 -15I70 160 -254 -158 -119 -161 -140 -152 -523 -376 -376 Cash Flow from Financing
6I40 -1I10 1I80 11I40 -7I80 41I00 42I60 345 -197 114 -61I30 4I20 6I80 114 Net Change in Cash
16I20 -86I90 114
-48I40 -50I60 -68I20 -71I40 -66I10 -42I70 -53I50 -53I50 -69I90 -97I70 -86I10 -72I70 -80I70 -94I20 -85I20 -64I40 -64I40 Capital Expenditure
18I20 136 73I20 119 40I50 220 71I30 5I20 73I90 182 178 279 366 232 364 392 392 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AOS 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
25.37 22.65 15.21 12.29 11.18 13.95 15.74 6.20 18.39 29.48 24.64 24.25 25.73 36.05 16.58 21.36 18.39 PE Ratio(TTM)
33.27 7.34 14.13 7.50 26.89 12.55 33.06 8.29 21.99 26.01 30.40 24.19 22.64 66.46 19.76 20.82 17.92 Price to Owner Earnings
(TTM)
1.50 1.74 1.68 1.39 1.39 1.71 2.30 1.96 2.44 3.70 3.65 4.67 5.42 6.40 4.27 4.66 4.01 Price to Book
3.20 3.69 11.88 6.65 15.42 3.93 4.50 7.11 6.94 8.63 7.83 9.23 11.48 12.84 8.05 9.93 8.55 Price to Tangible Book
48.92 7.82 15.89 9.08 10.74 5.83 24.73 334 39.72 27.49 28.70 24.49 22.83 45.90 20.18 20.14 17.34 Price-to-Free-Cash-Flow
Ratio
13.45 5.70 8.24 5.68 4.87 4.41 14.12 31.74 20.45 17.86 19.39 19.44 18.71 32.70 16.35 17.32 14.91 Price-to-Operating-Cash-
Flow Ratio
0.54 0.63 0.54 0.47 0.24 0.52 1.18 1.09 1.51 2.32 2.18 2.70 3.12 3.57 2.31 2.65 2.28 PS Ratio
-- -- 3.85 1.54 0.56 1.16 -- -- -- 4.82 1.02 0.99 1.34 1.79 0.87 1.74 1.56 PEG Ratio
0.69 0.72 0.72 0.61 0.52 1.10 1.46 1.15 1.39 2.15 2.01 2.50 2.90 3.37 2.17 2.52 2.14 EV-to-Revenue
9.85 7.92 7.80 7.27 6.16 10.10 17.78 9.02 9.06 15.33 13.42 13.41 14.55 16.82 10.82 13.43 11.42 EV-to-EBITDA
18.37 12.09 11.19 11.15 9.36 15.28 26.70 11.50 11.09 19.11 16.16 15.47 16.56 19.04 12.20 15.61 13.27 EV-to-EBIT
5.44 8.27 8.94 8.97 10.68 6.54 3.75 8.70 9.02 5.23 6.19 6.46 6.04 5.25 8.20 6.41 7.54 Return on Capital %
-1.71 2.16 7.82 13.69 28.70 29.50 3.11 -3.90 -0.55 8.28 22.19 22.07 21.92 22.23 22.80 16.23 16.87 Forward Rate of Return
16.22 18.58 18.61 18.32 14.97 20.64 24.36 18.26 26.06 40.24 37.16 42.94 45.34 51.54 30.09 29.60 25.48 Shiller PE Ratio
2.08 1.85 1.76 1.99 2.52 1.80 1.43 1.50 1.14 0.85 1.06 0.99 1.01 0.91 1.78 1.89 2.24 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
888 1,068 1,152 1,053 891 1,316 2,029 2,128 2,915 4,921 5,044 6,739 8,212 10,520 7,330 7,771 6,641 Market Cap
1,144 1,213 1,566 1,411 1,197 1,512 2,171 1,964 2,696 4,627 4,726 6,342 7,781 10,110 6,906 7,542 6,412 Enterprise Value
4.99 5.85 6.26 5.84 4.92 7.23 9.52 10.03 15.77 26.97 28.21 38.31 47.35 61.28 42.70 47.64 41.00 Month End Stock Price
-3.92 -3.59 -6.14 -5.88 -6.70 -6.19 -5.22 -3.00 -3.36 -3.16 -3.31 -3.08 -3.58 -4.27 -4.13 -5.15 -5.15 Net Cash (per share)
-0.77 -0.57 -2.15 -1.82 -2.55 -2.55 -1.57 -0.26 0.16 0.78 1.03 1.23 1.07 1.25 1.65 0.67 0.67 Net Current Asset Value
(per share)
-2.08 -1.83 -3.78 -5.15 -5.92 -5.89 -4.87 -1.31 -1.20 -0.75 -0.73 -0.31 -0.61 -0.81 -0.42 -1.51 -1.51 Net-Net Working Capital (per
share)
3.89 4.97 5.75 7.34 7.82 9.88 9.45 9.19 9.64 10.89 14.57 17.53 22.15 26.26 31.29 31.62 31.62 Projected FCF (per share)
6.10 5.51 6.74 6.97 10.81 6.92 4.33 5.15 6.08 7.21 10.41 17.00 20.68 30.32 37.61 42.22 42.22 Median PS (per share)
-- -- -- 3.78 8.83 6.25 1.98 -- 11.92 5.59 27.66 38.84 35.46 34.17 49.07 27.36 27.36 Peter Lynch Fair Value (per
share)
2.63 3.03 2.20 3.06 1.80 3.91 3.84 4.35 6.69 8.02 9.61 12.15 13.10 13.51 17.55 15.48 15.51 Graham Number (per share)
2.70 3.56 3.23 5.06 6.27 5.14 4.68 6.68 6.53 7.49 11.47 15.45 18.89 21.40 26.05 28.81 28.81 Earnings Power Value
(EPV)
3.12 3.41 2.73 2.79 2.67 1.94 2.33 2.77 3.66 4.90 4.96 5.95 6.15 6.70 6.18 6.20 5.72 Altman Z-Score
5.00 6.00 6.00 6.00 5.00 7.00 8.00 6.00 5.00 8.00 8.00 7.00 7.00 6.00 6.00 4.00 4.00 Piotroski F-Score
-2.40 -2.98 -2.31 -3.55 -2.54 -3.25 -2.50 -2.03 -2.39 -2.68 -2.59 -2.64 -2.73 -2.44 -2.37 -2.69 -2.69 Beneish M-Score
0.66 0.58 0.85 0.61 0.51 0.51 0.52 0.44 0.42 0.45 0.45 0.42 0.41 0.43 0.41 0.47 0.47 Scaled Net Operating
Assets
1.48 -5.44 18.03 -1.67 1.56 -3.27 2.53 5.17 4.46 -4.25 5.96 4.46 6.23 4.01 0.26 -3.93 -3.93 Sloan Ratio (%)
2.38 1.87 1.74 1.62 1.55 1.51 1.67 2.36 2.20 2.04 2.18 2.15 2.04 2.23 2.09 1.96 1.96 Current Ratio
1.43 1.14 1.06 1.07 0.99 1.28 1.40 2.03 1.88 1.71 1.84 1.81 1.71 1.85 1.70 1.56 1.56 Quick Ratio
5.92 6.19 9.44 8.53 7.83 7.49 10.77 11.16 15.90 27.44 28.40 40.43 51.41 62.81 67.84 56.49 56.66 Highest Stock Price
3.87 4.19 5.68 5.47 4.07 3.55 6.91 7.61 10.03 15.77 22.34 27.12 31.03 47.19 41.41 40.50 38.70 Lowest Stock Price
-1.43 -2.52 -0.89 2.06 -0.46 -0.52 -17.05 0.45 12.88 1.28 2.02 1.62 1.40 1.03 -- 4.98 4.98 Shares Buyback Ratio (%)
7.27 0.93 24.97 7.08 1.94 -21.38 -19.11 13.85 13.42 11.45 11.55 9.45 7.20 12.99 7.87 -3.04 -3.04 YoY Rev. per Sh. Growth
(%)
-32.95 30.51 60.39 15.38 -5.26 31.11 2.54 171 -47.87 7.02 24.59 38.60 17.09 -8.11 51.76 -13.95 -13.42 YoY EPS Growth (%)
-20.12 30.14 28.15 -3.24 3.07 -7.43 -33.63 76.85 36.70 1.75 19.00 36.54 14.50 13.79 7.67 -9.12 -9.15 YoY EBITDA Growth (%)
-4.74 -2.36 3.97 7.96 20.21 21.08 -3.45 -9.66 -4.02 6.11 24.16 24.58 19.27 20.10 19.05 12.27 11.80 EBITDA 5-Y Growth (%)
176 178 182 183 180 137 183 184 185 184 181 178 175 173 171 165 163 Shares Outstanding (Basic
Average)
178 182 184 180 181 182 213 212 185 182 179 176 173 172 172 163 162 Shares Outstanding (EOP)
0.38 1.54 1.18 -0.12 0.48 0.70 0.89 1.08 1.13 1.37 1.44 1.61 1.53 1.32 1.34 1.58 1.56 Beta
02/18/05 02/24/06 02/16/07 02/20/08 02/25/09 02/26/10 02/24/11 02/27/12 02/27/13 02/20/14 02/18/15 02/17/16 02/17/17 02/16/18 02/15/19 02/24/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AOS 6/7
02/24/06 02/16/07 02/16/07 02/25/09 02/25/09 02/24/11 02/27/13 02/20/14 02/18/15 02/17/16 02/17/17 02/16/18 02/15/19 02/24/20 02/24/20 02/24/20 Restated Filing Date
About GuruFocusIcom
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AOS 7/7
CF Industries Holdings Inc (NYSE:CF) 03/02/2020 4:10PM EST GuruFocus
Price: $ 38.22 +1.36(+3.69%) Market Cap: $ 8.26 B Enterprise Value: $14.96 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 17.22
Cash to Debt 0.07 Operating margin (%) 20.35
Forward P/E N/A
Equity to Asset 0.24 Net-margin (%) 10.74
PE(NRI) 17.22
Interest Coverage 4.17 ROE (%) 16.59
F-Score:
P/B 2.89
ROA (%) 3.88
8 P/S 1.85
Z-Score: ROC (Joel Greenblatt) (%) 11.52
1.66 PFCF 7.69
Revenue Growth (3Y)(%) 9.40
M-Score: POCF 5.63
-2.96 EBITDA Growth (3Y)(%) 49.20
EV-to-EBIT 15.02
WACC vs 5.16%
ROIC 7.99% Shiller P/E 12.42
WACC
ROIC Current Ratio 1.46
Quick Ratio 0.94
Days Inventory 36.16
Days Sales Outstanding 18.21
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year CF Industries is a leading producer and distributor of nitrogen fertilizers. The company operates seven nitrogen
facilities in North America and holds joint-venture interests in further production capacity in the United Kingdom and
Good Signs 2016 1,004 1,134 680 867 3,685 Trinidad and Tobago. In 2014, CF sold its vertically integrated phosphate assets to Mosaic.... (Read More)
2017 1,037 1,124 870 1,099 4,130 Competitors: SAU:2020 , NYSE:MOS, NYSE:SMG, NSE:UPL , OSL:YAR, MIC:PHOR, XTAE:ICL ,
Piotroski F-Score: High 2018 957 1,300 1,040 1,132 4,429 SHSE:600426, SZSE:000792, SZSE:000553, NYSE:FMC, SHSE:600486, NSE:PIIND, MIC:AKRN, BOM:506285,
BOM:506395, MIC:URKA, SZSE:000408, XTER:SDF, TPE:1722
Dividend Yield %: Close to 2- 2019 1,001 1,502 1,038 1,049 4,590
year high 2020 Insider Trades
PE Ratio: Close to 1-year low Quarterly Earnings per Share
PB Ratio: Close to 1-year low Mar Jun Sep Dec Full Year
2016 0.11 0.20 -0.13 -1.38 -1.20
PS Ratio: Close to 2-year low 2017 -0.10 0.01 -0.37 1.98 1.52
2018 0.27 0.63 0.13 0.21 1.24
DCF 2019 0.40 1.28 0.29 0.25 2.22
2020
GuruFocus does not
calculate intrinsic value: DCF Quarterly Dividends Per Share
(Earnings Based) for Mar Jun Sep Dec Full Year
companies with one star 2016 0.30 0.30 0.30 0.30 1.20
predictability or not rated. But 2017 0.30 0.30 0.30 0.30 1.20
you can go to each stock's 2018 0.30 0.30 0.30 0.30 1.20
DCF page to calculate 2019 0.30 0.30 0.30 0.30 1.20
yourself. 2020
Growth Rate
Reverse DCF
Annual Rates(per share) 10-Y 5-Y 12-M
GuruFocus does not
calculate reverse DCF growth Revenue Growth (%) 4.50 2.30 9.30
rate for companies with one EBITDA Growth (%) 2.10 -1.60 18.70
star predictability or not rated. Free Cash Flow Growth (%) 0.00 0.00 8.00
But you can go to each
Book Value Growth (%) 3.10 3.10 -1.50
stock's DCF page to calculate
yourself. EPS Growth (%) 0.00 0.00 79.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CF 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6.00 7.16 7.38 9.72 13.91 10.60 12.13 17.42 18.87 18.50 18.48 18.25 15.81 17.66 18.94 20.71 20.71 Revenue per Share
0.94 0.86 0.60 2.42 4.53 3.24 3.64 9.05 10.36 9.32 10.70 7.01 2.54 4.52 7.11 8.44 8.44 EBITDA per Share
0.54 0.50 0.26 2.12 4.17 2.83 2.43 7.86 9.07 7.93 9.17 4.97 -0.37 0.74 3.32 4.50 4.49 EBIT per Share
0.25 -0.14 0.12 1.31 2.43 1.48 1.07 4.40 5.72 4.95 5.42 2.96 -1.19 1.53 1.24 2.23 2.22 Earnings per Share (diluted)
0.25 -0.13 0.12 1.31 2.43 1.48 1.07 4.40 5.72 4.95 5.42 2.96 -1.19 1.53 1.24 2.23 2.22 eps without NRI
-- -- -- -- 1.22 2.60 2.82 4.84 6.79 3.62 5.61 -0.21 -3.76 1.11 0.92 2.06 2.06 Owner Earnings per Share (TTM)
1.13 0.25 0.52 2.06 1.76 1.81 2.86 5.23 5.73 2.17 -1.51 -5.35 -6.84 4.95 4.60 4.97 4.97 Free Cashflow per Share
-- 0.00 0.02 0.02 0.08 0.08 0.08 0.20 0.32 0.44 1.00 1.20 1.20 1.20 1.20 1.20 1.20 Dividends per Share
0.19 2.75 2.78 4.22 5.53 7.12 11.37 13.90 18.75 18.18 17.42 17.31 14.36 15.34 13.28 13.07 13.23 Book Value per Share
0.19 2.74 2.78 4.22 5.53 7.12 5.51 7.43 12.04 10.51 8.59 6.39 3.75 4.63 2.20 1.90 1.93 Tangible Book per Share
0.94 0.02 0.02 0.02 0.02 0.02 5.50 4.95 5.10 11.10 19.00 23.76 24.79 20.11 21.08 19.13 19.37 Total Debt per Share
-- 3.05 5.13 22.01 9.83 18.16 27.03 29.00 40.63 46.61 54.51 40.81 31.48 42.54 43.51 47.74 38.22 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
8.91 -5.05 4.37 38.15 54.22 23.84 12.08 35.81 35.38 26.68 29.94 16.98 -7.50 10.34 8.87 16.84 16.59 Return on Equity %
4.57 -2.81 2.64 22.57 31.12 14.98 6.21 17.36 19.32 14.05 12.68 5.85 -1.99 2.50 2.22 3.97 3.88 Return on Assets %
46.23 21.36 11.46 98.57 183 95.78 33.68 71.85 76.81 58.03 48.47 16.69 -0.90 1.77 8.69 11.60 11.52 Return on Capital %
15.37 -9.03 8.82 96.98 145 55.01 20.01 32.87 35.37 25.97 14.75 9.83 3.96 -7.78 5.57 8.08 7.99 Return on Invested Capital %
-- -- -- 8.61 13.66 9.04 7.92 5.26 10.85 13.53 9.80 6.47 5.27 -0.23 0.24 5.91 5.16 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 35.56 34.09 10.91 5.98 6.40 5.82 4.34 2.29 2.49 5.71 4.86 5.01 4.69 Effective Interest Rate on Debt %
13.09 10.63 7.24 24.30 31.18 32.18 29.75 47.49 51.00 46.03 37.49 35.91 22.88 10.51 20.70 25.58 25.58 Gross Margin %
9.04 7.02 3.51 21.82 29.33 26.06 27.07 45.35 48.16 42.80 33.65 30.64 15.96 5.67 16.30 20.35 20.35 Operating Margin %
4.10 -1.98 1.64 13.52 17.46 14.02 8.81 25.24 30.29 26.75 29.31 16.25 -7.52 8.67 6.55 10.74 10.74 Net Margin %
18.81 3.45 7.10 21.22 12.67 17.10 23.61 30.04 30.34 11.74 -8.18 -29.29 -43.26 28.04 24.27 23.99 23.99 FCF Margin %
0.33 0.01 0.01 0.00 0.00 0.00 0.48 0.36 0.27 0.61 1.09 1.37 1.73 1.31 1.59 1.46 1.46 Debt to Equity
0.51 0.62 0.59 0.59 0.56 0.69 0.46 0.51 0.58 0.48 0.37 0.32 0.22 0.27 0.23 0.24 0.24 Total Equity to Total Asset
0.17 0.00 0.00 0.00 0.00 0.00 0.22 0.18 0.16 0.29 0.41 0.44 0.38 0.35 0.37 0.35 0.35 Total Debt to Total Asset
14.59 15.08 11.69 40.57 55.58 34.38 20.96 32.66 32.53 24.18 16.21 12.93 6.06 3.04 7.02 9.46 9.24 Gross Profit to Total Asset %
1.11 1.42 1.61 1.67 1.78 1.07 0.71 0.69 0.64 0.53 0.43 0.36 0.27 0.29 0.34 0.37 0.36 Asset Turnover
-- -- 0.13 0.01 0.03 0.05 0.08 0.05 0.06 0.09 0.19 0.41 -- 0.78 0.97 0.54 0.54 Dividend Payout Ratio
9.18 9.79 20.45 19.69 16.30 23.42 21.99 15.98 12.75 15.00 14.29 17.79 22.48 26.25 18.62 18.21 18.21 Days Sales Outstanding
43.06 35.61 7.24 36.80 75.17 68.50 98.63 11.34 14.32 20.88 8.10 12.82 10.40 9.78 10.50 8.33 8.33 Days Accounts Payable
29.71 50.29 41.34 35.67 55.48 82.16 31.32 32.74 35.52 34.11 29.37 34.63 42.38 30.32 30.35 35.26 36.16 Days Inventory
-4.17 24.47 54.55 18.56 -3.39 37.08 -45.32 37.38 33.95 28.23 35.56 39.60 54.46 46.79 38.47 45.14 46.04 Cash Conversion Cycle
12.28 7.26 8.83 10.23 6.58 4.44 11.65 11.15 10.28 10.70 12.43 10.54 8.61 12.04 12.03 10.35 10.09 Inventory Turnover
0.87 0.89 0.93 0.76 0.69 0.68 0.70 0.53 0.49 0.54 0.63 0.64 0.77 0.89 0.79 0.74 0.74 COGS to Revenue
0.07 0.12 0.11 0.07 0.11 0.15 0.06 0.05 0.05 0.05 0.05 0.06 0.09 0.07 0.07 0.07 0.07 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CF 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,651 1,968 2,033 2,757 3,921 2,608 3,965 6,098 6,104 5,475 4,743 4,308 3,685 4,130 4,429 4,590 4,590 Revenue
1,435 1,759 1,886 2,087 2,698 1,769 2,786 3,202 2,991 2,955 2,965 2,761 2,842 3,696 3,512 3,416 3,416 Cost of Goods Sold
216 209 147 670 1,223 839 1,180 2,896 3,113 2,520 1,778 1,547 843 434 917 1,174 1,174 Gross Profit
13.09 10.63 7.24 24.30 31.18 32.18 29.75 47.49 51.00 46.03 37.49 35.91 22.88 10.51 20.70 25.58 25.58 Gross Margin %
66.87 71.10 75.90 68.40 68.00 62.90 106 130 152 166 152 170 173 191 214 239 239 Selling, General, & Admin. Expense
-0.00 -- -0.00 -- 4.50 96.70 -- -- 21.90 10.80 30.00 57.00 82.00 9.00 -19.00 1.00 1.00 Other Operating Expense
149 138 71.30 602 1,150 680 1,073 2,766 2,940 2,343 1,596 1,320 588 234 722 934 934 Operating Income
9.04 7.02 3.51 21.82 29.33 26.06 27.07 45.35 48.16 42.80 33.65 30.64 15.96 5.67 16.30 20.35 20.35 Operating Margin %
-- -- -- -- 26.10 4.50 1.50 1.70 4.30 4.70 1.00 2.00 5.00 12.00 13.00 20.00 20.00 Interest Income
-- -- -- -- -1.60 -1.50 -107 -107 -103 -137 -167 -116 -141 -299 -228 -224 -224 Interest Expense
-- -- -- -- 24.50 3.00 -220 -146 -131 -148 -177 -131 -195 -303 -228 -217 -217 Net Interest Income
-40.21 -45.60 -18.30 -30.30 0.70 12.80 -166 25.50 20.90 13.80 768 -131 -619 -56.00 53.00 55.00 55.00 Other Income (Expense)
-23.15 -17.80 -28.80 -54.60 -117 -82.90 -91.50 -222 -74.70 -68.20 -47.00 -34.00 -119 -92.00 -138 -153 -153 Other Income (Minority Interest)
109 92.50 53.00 571 1,175 696 688 2,646 2,830 2,210 2,187 1,058 -226 -125 547 772 772 Pre-Tax Income
-41.40 -129 -19.70 -200 -378 -246 -274 -927 -964 -687 -773 -396 68.00 575 -119 -126 -126 Tax Provision
37.97 139 37.17 34.92 32.17 35.37 39.80 35.02 34.08 31.07 35.35 37.43 30.09 460 21.76 16.32 16.32 Tax Rate %
67.73 -36.20 33.30 373 802 449 441 1,761 1,923 1,533 1,437 734 -158 450 428 646 646 Net Income (Continuing Operations)
67.73 -39.00 33.30 373 685 366 349 1,539 1,849 1,465 1,390 700 -277 358 290 493 493 Net Income
4.10 -1.98 1.64 13.52 17.46 14.02 8.81 25.24 30.29 26.75 29.31 16.25 -7.52 8.67 6.55 10.74 10.74 Net Margin %
0.25 -0.14 0.12 1.34 2.47 1.51 1.08 4.44 5.79 4.97 5.43 2.97 -1.19 1.53 1.25 2.24 2.23 EPS (Basic)
0.25 -0.14 0.12 1.31 2.43 1.48 1.07 4.40 5.72 4.95 5.42 2.96 -1.19 1.53 1.24 2.23 2.22 EPS (Diluted)
275 275 276 284 282 246 327 350 324 296 257 236 233 234 234 222 219 Shares Outstanding (Diluted
Average)
109 97.50 94.60 84.50 101 101 395 416 420 411 393 480 678 883 888 875 875 Depreciation, Depletion and
Amortization
258 236 166 686 1,278 798 1,190 3,169 3,353 2,757 2,747 1,654 593 1,057 1,663 1,871 1,871 EBITDA
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
50.00 37.40 25.40 367 625 697 798 1,207 2,275 1,711 1,997 286 1,164 835 682 287 287 Cash And Cash Equivalents
369 179 300 495 -- 185 3.10 -- -- -- -- -- -- -- -- -- -- Marketable Securities
419 217 326 861 625 882 801 1,207 2,275 1,711 1,997 286 1,164 835 682 287 287 Cash, Cash Equivalents, Marketable
Securities
41.51 52.80 114 149 175 167 239 267 213 225 186 210 227 297 226 229 229 Accounts Receivable
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CF 3/7
45.26 55.00 41.00 41.20 -- 208 270 59.00 65.70 23.30 23.40 35.00 60.00 42.00 37.00 40.00 40.00 Inventories, Raw Materials &
Components
-- -- -- -- -- -- -- 245 212 251 180 286 279 233 272 311 311 Inventories, Finished Goods
188 196 135 191 589 -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
234 251 176 232 589 208 270 304 278 274 203 321 339 275 309 351 351 Total Inventories
92.68 54.40 17.50 37.70 44.50 25.80 31.40 18.00 37.40 414 140 253 916 48.00 48.00 94.00 94.00 Other Current Assets
789 576 633 1,279 1,433 1,283 1,341 1,799 2,808 2,630 2,531 1,127 2,655 1,465 1,274 974 974 Total Current Assets
-- -- -- -- 251 340 1,080 1,000 962 926 862 298 139 108 93.00 88.00 88.00 Investments And Advances
216 217 217 217 31.80 36.50 60.50 60.30 60.20 37.90 48.40 68.00 69.00 71.00 69.00 71.00 71.00 Land And Improvements
2,112 2,147 -- -- -- -- -- 525 537 159 161 271 878 882 886 890 890 Buildings And Improvements
-- -- 1,927 2,015 2,208 2,370 5,519 5,196 5,389 5,047 5,269 7,348 11,664 12,070 12,127 12,338 12,338 Machinery, Furniture, Equipment
11.69 13.90 18.20 28.60 74.90 118 298 202 469 1,099 2,559 3,626 280 223 225 236 236 Construction In Progress
2,340 2,377 2,380 2,465 2,508 2,721 6,078 6,184 6,658 6,343 8,037 11,313 12,891 13,246 13,307 13,815 13,815 Gross Property, Plant and Equipment
-1,694 -1,747 -1,783 -1,842 -1,846 -1,927 -2,153 -2,448 -2,757 -2,242 -2,511 -2,774 -3,239 -4,071 -4,684 -5,365 -5,365 Accumulated Depreciation
646 630 597 624 662 794 3,926 3,736 3,901 4,102 5,526 8,539 9,652 9,175 8,623 8,450 8,450 Property, Plant and Equipment
1.33 0.90 0.90 0.90 0.90 0.90 2,086 2,118 2,114 2,142 2,135 2,546 2,473 2,500 2,468 2,475 2,475 Intangible Assets
-- -- 0.90 0.90 0.90 0.90 2,086 2,065 2,065 2,096 2,093 2,390 2,345 2,371 2,353 2,365 2,365 Goodwill
111 21.00 59.40 109 40.20 77.40 326 323 383 879 202 173 212 215 203 185 185 Other Long Term Assets
1,547 1,228 1,290 2,013 2,388 2,495 8,759 8,975 10,167 10,678 11,254 12,683 15,131 13,463 12,661 12,172 12,172 Total Assets
169 172 37.40 210 556 332 753 99.50 117 169 65.80 97.00 81.00 99.00 101 78.00 78.00 Accounts Payable
-- -- -- -- 14.10 -- 62.20 129 187 73.30 16.00 5.00 1.00 2.00 5.00 1.00 1.00 Total Tax Payable
169 172 124 210 676 424 893 592 547 637 606 923 639 474 550 438 438 Accounts Payable & Accrued
Expense
19.92 -- -- -- 4.10 -- 4.90 -- 5.00 -- -- -- -- -- -- 90.00 90.00 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 257 381 164 325 162 42.00 89.00 149 119 119 Current Deferred Revenue
-- 5.80 9.80 30.70 52.10 52.60 38.60 90.10 -- -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- 5.80 9.80 30.70 52.10 52.60 38.60 347 381 164 325 162 42.00 89.00 149 119 119 DeferredTaxAndRevenue
236 164 220 388 86.10 3.10 10.20 91.80 17.90 27.30 48.40 130 5.00 17.00 6.00 18.00 18.00 Other Current Liabilities
425 341 353 629 818 480 947 1,031 950 828 980 1,215 686 580 705 665 665 Total Current Liabilities
239 4.20 4.20 4.90 -- 4.70 1,954 1,618 1,600 3,098 4,593 5,537 5,778 4,692 4,698 3,957 3,957 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 193 193 Capital Lease Obligation
239 4.20 4.20 4.90 -- 4.70 1,954 1,618 1,600 3,098 4,593 5,537 5,778 4,692 4,698 4,150 4,150 Long-Term Debt & Capital Lease
Obligation
0.33 0.01 0.01 0.00 0.00 0.00 0.48 0.36 0.27 0.61 1.09 1.37 1.73 1.31 1.59 1.46 1.46 Debt to Equity
-- -- -- -- -- -- -- 230 209 156 210 343 393 324 280 298 298 PensionAndRetirementBenefit
-- 8.40 -- 32.10 6.20 68.30 1,081 960 939 833 735 916 1,630 1,047 1,117 1,246 1,246 NonCurrent Deferred Liabilities
12.77 13.60 13.60 17.30 12.60 16.00 383 386 380 362 363 352 3,144 3,105 2,773 2,740 2,740 Minority Interest
83.20 105 152 142 213 197 343 203 187 324 165 285 152 136 130 176 176 Other Long-Term Liabilities
747 459 510 808 1,037 750 4,325 4,042 3,885 5,240 6,682 8,296 8,639 6,779 6,930 6,535 6,535 Total Liabilities
0.01 0.60 0.60 0.60 0.50 0.50 0.70 0.70 0.60 0.60 2.50 2.00 2.00 2.00 2.00 2.00 2.00 Common Stock
734 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Preferred Stock
59.78 19.70 48.60 417 703 1,048 1,371 2,841 3,461 3,726 3,175 3,058 2,365 2,443 2,463 1,958 1,958 Retained Earnings
-12.36 -7.40 -33.40 -21.20 -75.20 -43.20 -53.30 -99.30 -49.60 -42.60 -160 -250 -398 -263 -371 -366 -366 Accumulated other comprehensive
income (loss)
5.56 743 751 791 709 724 2,732 2,805 2,492 1,594 1,414 1,378 1,380 1,397 1,368 1,303 1,303 Additional Paid-In Capital
-- -- -- -- -- -- -- -1,000 -2.30 -202 -222 -153 -1.00 -- -504 -- -- Treasury Stock
787 756 767 1,187 1,338 1,729 4,050 4,547 5,902 5,076 4,210 4,035 3,348 3,579 2,958 2,897 2,897 Total Equity
0.51 0.62 0.59 0.59 0.56 0.69 0.46 0.51 0.58 0.48 0.37 0.32 0.22 0.27 0.23 0.24 0.24 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CF 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
67.73 -39.00 33.30 373 802 449 441 1,761 1,923 1,533 1,437 734 -158 450 428 646 646 Net Income
67.73 -39.00 33.30 373 802 449 441 1,761 1,923 1,533 1,437 734 -158 450 428 646 646 Net Income From Continuing
Operations
109 97.50 94.60 84.50 101 101 395 416 420 411 393 480 678 883 888 875 875 Depreciation, Depletion and
Amortization
41.40 -9.20 -61.30 -28.50 -44.00 21.30 70.60 -35.50 53.20 0.40 39.00 -4.00 18.00 -57.00 68.00 -6.00 -6.00 Change In Receivables
-26.43 -8.90 51.60 -53.60 -417 440 79.80 -38.50 34.80 -80.30 64.00 -71.00 -7.00 40.00 -52.00 -26.00 -26.00 Change In Inventory
-- 10.20 -- -20.70 19.60 -- -5.10 1.40 0.80 -- -- -- -- -- -- -- -- Change In Prepaid Assets
44.08 -1.10 5.40 31.30 13.50 -37.00 24.40 107 84.20 -104 -110 -106 -694 808 52.00 -50.00 -50.00 Change In Payables And Accrued
Expense
100 -91.70 -1.30 154 -392 248 336 -140 296 -444 198 -345 -803 839 127 -112 -112 Change In Working Capital
33.80 122 9.40 48.00 26.40 45.70 88.60 -32.90 -138 -34.30 18.00 78.00 739 -601 78.00 149 149 Change In DeferredTax
-- -- -- -- 8.30 6.60 8.30 10.60 11.90 12.60 17.00 17.00 19.00 17.00 22.00 28.00 28.00 Stock Based Compensation
33.61 48.90 67.60 31.10 37.00 -111 -74.10 64.10 -137 -11.00 -642 181 8.00 43.00 -46.00 -81.00 -81.00 Cash Flow from Others
344 137 204 690 639 682 1,194 2,079 2,376 1,467 1,421 1,207 617 1,631 1,497 1,505 1,505 Cash Flow from Operations
-33.71 -69.40 -59.30 -105 -142 -236 -258 -247 -524 -824 -1,809 -2,469 -2,211 -473 -422 -404 -404 Purchase Of Property, Plant,
Equipment
-- 18.60 -- 4.10 10.40 9.30 16.50 54.70 17.00 12.60 11.00 12.00 14.00 20.00 26.00 70.00 70.00 Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -3,178 -- -- -72.50 -- -552 -- -- -- -- -- Purchase Of Business
-- -- -- -- -- -- -- -- -- -- 1,372 13.00 -- 16.00 -- -- -- Sale Of Business
-819 -685 -886 -1,167 -644 -552 -28.60 -- -- -- -- -- -- -- -- -- -- Purchase Of Investment
541 875 765 946 934 301 405 37.90 48.40 13.50 5.00 -- -- 9.00 -- -- -- Sale Of Investment
1.96 -- -11.10 -21.00 1.20 -10.00 -27.50 -19.20 -55.40 -149 77.00 20.00 2.00 15.00 21.00 15.00 15.00 Cash From Other Investing Activities
-309 139 -191 -343 160 -488 -3,070 -174 -514 -1,019 -344 -2,976 -2,195 -413 -375 -319 -319 Cash Flow from Investing
-- 715 0.10 16.60 10.10 -- 1,150 -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -715 -- -- -500 3.20 -- -1,000 -500 -1,409 -1,935 -556 -- -- -467 -370 -370 Repurchase of Stock
-34.92 -281 -- -- -- -- 1,189 -346 -13.00 1,498 1,494 1,000 74.00 -1,148 -- -769 -- Net Issuance of Debt
-26.33 -1.10 -4.40 -4.50 -74.70 -132 -46.20 -68.70 -103 -129 -256 -282 -280 -280 -280 -265 -265 Cash Flow for Dividends
-0.05 -8.40 -19.00 -17.00 24.30 4.60 -315 -84.50 -181 -940 -90.00 -85.00 2,645 -136 -523 -179 -948 Other Financing
-61.29 -291 -23.30 -4.90 -541 -124 1,977 -1,499 -797 -980 -787 77.00 2,439 -1,564 -1,270 -1,583 -1,583 Cash Flow from Financing
-27.14 -12.60 -12.00 341 259 72.10 101 409 1,068 -564 286 -1,711 860 -334 -153 -395 -395 Net Change in Cash
-33.71 -69.40 -59.30 -105 -142 -236 -258 -247 -524 -824 -1,809 -2,469 -2,211 -473 -422 -404 -404 Capital Expenditure
311 67.80 144 585 497 446 936 1,832 1,852 643 -388 -1,262 -1,594 1,158 1,075 1,101 1,101 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CF 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- 43.47 16.75 4.06 12.22 26.45 6.58 7.10 9.46 10.32 13.83 -- 27.99 35.09 21.50 17.22 PE Ratio(TTM)
-- -- -- -- 8.07 6.98 9.59 6.00 5.98 12.87 9.72 -- -- 38.26 47.19 23.19 18.56 Price to Owner Earnings
(TTM)
-- 1.11 1.85 5.22 1.78 2.55 2.38 2.09 2.17 2.56 3.13 2.36 2.19 2.77 3.28 3.65 2.89 Price to Book
-- 1.11 1.85 5.22 1.78 2.55 4.90 3.91 3.38 4.44 6.35 6.39 8.39 9.20 19.79 25.07 19.82 Price to Tangible Book
-- 12.35 9.79 10.66 5.70 10.00 10.34 5.60 7.10 21.98 -- -- -- 8.58 9.50 9.61 7.69 Price-to-Free-Cash-Flow Ratio
-- 15.80 6.95 9.04 4.41 6.55 7.99 4.92 5.52 9.48 10.00 8.01 11.91 6.10 6.81 7.03 5.63 Price-to-Operating-Cash-Flow
Ratio
-- 0.56 0.70 2.26 0.71 1.71 2.27 1.66 2.16 2.52 2.95 2.24 1.99 2.41 2.30 2.31 1.85 PS Ratio
-- -- -- -- -- 0.14 0.47 0.17 0.25 0.30 0.29 1.66 -- -- -- 43.88 -- PEG Ratio
-- 0.42 0.55 1.94 0.45 1.36 2.82 1.69 2.05 2.70 3.40 3.51 4.10 4.09 3.72 3.73 3.26 EV-to-Revenue
-- 4.61 6.67 7.80 1.36 4.45 9.39 3.25 3.73 5.35 5.87 9.14 25.46 15.98 9.91 9.16 7.99 EV-to-EBITDA
-- 6.77 15.53 8.90 1.48 5.09 14.06 3.74 4.26 6.29 6.85 12.87 -178 97.05 21.27 17.21 15.02 EV-to-EBIT
-- 14.77 6.44 11.24 67.57 19.65 7.11 26.74 23.47 15.90 14.60 7.77 -0.56 1.03 4.70 5.81 6.66 Return on Capital %
-- -- -- -- -- 26.39 25.90 28.85 28.26 27.12 24.97 11.77 -20.52 -29.28 -20.74 0.93 1.04 Forward Rate of Return
-- -- -- -- -- -- -- -- -- -- 19.97 13.31 10.53 13.84 14.64 15.51 12.42 Shiller PE Ratio
-- 0.13 0.31 0.07 0.81 0.44 0.30 0.69 0.79 0.94 1.83 2.94 3.81 2.82 2.76 2.51 3.15 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- 839 1,415 6,191 2,379 4,410 9,632 9,486 12,788 13,015 13,174 9,512 7,338 9,924 9,695 10,579 8,262 Market Cap
-- 640 1,107 5,352 1,770 3,549 11,173 10,283 12,499 14,765 16,132 15,115 15,096 16,886 16,484 17,272 14,955 Enterprise Value
-- 3.05 5.13 22.01 9.83 18.16 27.03 29.00 40.63 46.61 54.51 40.81 31.48 42.54 43.51 47.74 38.22 Month End Stock Price
-1.24 -0.93 -0.72 0.13 -1.75 0.48 -10.97 -9.85 -6.32 -13.93 -20.89 -35.88 -45.55 -38.79 -40.49 -40.56 -41.06 Net Cash (per share)
-2.56 0.38 0.40 1.61 1.59 2.13 -9.45 -8.04 -4.63 -10.64 -18.68 -32.27 -39.16 -36.09 -37.83 -37.46 -37.92 Net Current Asset Value (per
share)
-3.37 -0.33 -0.09 0.93 -- 1.42 -10.08 -8.77 -5.37 -12.84 -19.89 -34.51 -44.10 -37.24 -39.03 -38.99 -39.47 Net-Net Working Capital (per
share)
-- -- -- -- -- 16.35 23.46 41.02 62.54 68.07 66.97 47.20 18.89 14.88 7.73 11.24 11.24 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- -- -- 38.42 33.43 37.65 40.98 46.41 46.41 Median PS (per share)
-- -- -- -- -- 37.15 25.55 110 143 123 132 24.60 -- -- -- -- -- Peter Lynch Fair Value (per
share)
1.02 -- 2.74 11.17 17.37 15.41 11.51 27.10 39.35 34.21 32.36 20.63 -- 12.62 7.83 9.77 9.81 Graham Number (per share)
-- -- -- -- -8.48 -19.56 -0.36 6.75 13.56 7.75 16.17 3.32 -26.10 -97.23 -81.11 -63.09 -63.09 Earnings Power Value (EPV)
0.97 3.20 3.67 7.58 5.42 6.47 2.36 3.65 4.22 3.42 2.86 1.66 1.11 1.56 1.72 1.86 1.66 Altman Z-Score
9,999 9,999 9,999 8.00 6.00 6.00 4.00 8.00 8.00 5.00 4.00 4.00 5.00 5.00 6.00 8.00 8.00 Piotroski F-Score
-- -- -- -3.21 -1.76 -2.77 -2.05 -2.69 -2.97 -2.51 -3.03 -2.55 -2.23 -1.97 -3.44 -2.96 -2.96 Beneish M-Score
0.45 0.36 0.37 0.27 0.36 0.36 2.24 0.61 0.63 0.67 0.67 0.86 0.88 0.70 0.72 0.76 0.74 Scaled Net Operating Assets
2.12 -25.69 1.63 1.28 -4.75 6.87 25.40 -4.08 -0.13 9.53 2.78 19.47 8.60 -6.39 -6.57 -5.69 -5.69 Sloan Ratio (%)
1.86 1.69 1.79 2.03 1.75 2.67 1.42 1.74 2.95 3.18 2.58 0.93 3.87 2.53 1.81 1.46 1.46 Current Ratio
1.31 0.95 1.29 1.66 1.03 2.24 1.13 1.45 2.66 2.84 2.38 0.66 3.38 2.05 1.37 0.94 0.94 Quick Ratio
-- 3.59 5.28 23.31 33.92 18.99 27.33 37.96 44.90 47.41 56.55 68.92 40.81 43.07 56.06 52.68 55.15 Highest Stock Price
-- -- 2.61 5.13 7.88 8.85 11.71 24.20 29.00 34.06 44.98 40.07 21.43 25.51 36.49 39.01 35.18 Lowest Stock Price
-- -0.05 -0.26 -1.97 13.98 -0.37 -46.73 8.20 3.78 11.28 13.45 3.55 -0.01 -0.07 4.49 0.55 1.76 Shares Buyback Ratio (%)
18.73 19.23 3.12 31.78 43.00 -23.75 14.35 43.69 8.30 -1.98 -0.10 -1.24 -13.36 11.69 7.29 9.34 9.32 YoY Rev. per Sh. Growth (%)
473 -158 185 995 84.63 -38.83 -28.03 312 30.07 -13.43 9.49 -45.39 -140 229 -18.95 79.84 79.03 YoY EPS Growth (%)
4,790 -8.64 -29.75 302 87.23 -28.40 12.15 149 14.47 -10.11 14.88 -34.53 -63.69 77.63 57.40 18.70 18.66 YoY EBITDA Growth (%)
-- -- -- -- -- 89.48 55.99 38.73 28.83 31.42 35.40 8.34 -16.96 -26.46 -18.61 0.49 -1.60 EBITDA 5-Y Growth (%)
275 275 275 278 277 243 324 347 320 294 256 235 233 234 233 220 217 Shares Outstanding (Basic
Average)
275 275 276 281 242 243 356 327 315 279 242 233 233 233 223 222 216 Shares Outstanding (EOP)
-- -- -- 0.76 1.90 0.87 0.92 0.65 1.65 2.01 1.58 1.14 0.95 1.15 0.82 0.81 0.77 Beta
03/20/06 02/28/07 02/27/08 02/26/09 02/25/10 02/25/11 02/27/12 02/27/13 02/27/14 02/26/15 02/25/16 02/23/17 02/22/18 02/22/19 02/24/20 Filing Date
02/28/07 02/27/08 02/26/09 02/25/10 02/25/11 02/27/13 02/27/14 02/26/15 02/25/16 02/23/17 02/22/18 02/22/19 02/24/20 02/24/20 02/24/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CF 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CF 7/7
Franklin Resources Inc (NYSE:BEN) 03/02/2020 4:10PM EST GuruFocus
Price: $ 23.35 +1.59(+7.31%) Market Cap: $ 11.6 B Enterprise Value: $7.49 B Stock PDF
Financial Strength : 8/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 9.30
Cash to Debt 5.36 Operating margin (%) 26.64
Forward P/E N/A
Equity to Asset 0.67 Net-margin (%) 21.99
PE(NRI) 9.30
Interest Coverage 61.54 ROE (%) 12.70
F-Score:
P/B 1.15
ROA (%) 8.80
5 P/S 2.02
Z-Score: ROC (Joel Greenblatt) (%) 256.60
3.86 EV-to-EBIT 4.23
Revenue Growth (3Y)(%) 0.30
M-Score: Shiller P/E 7.58
-2.03 EBITDA Growth (3Y)(%) -8.10
Current Ratio 5.28
WACC vs 6.47% EPS Growth (3Y)(%) -7.20
ROIC 21.61% Quick Ratio 5.28
WACC
ROIC Days Sales Outstanding 49.77
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Franklin Resources provides investment services for individual and institutional investors. Its funds are marketed under
Insider Sell: Insider Selling
the Franklin, Templeton, Mutual Series, Bissett, Fiduciary, and Darby brands. At the end of September 2019, Franklin
2016 1,614 1,634 1,612 1,561 6,421 had $692.6 billion in managed assets, composed primarily of equity (39%), fixed-income (41%), and hybrid (19%)
2017 1,601 1,614 1,617 1,616 6,447 funds. Distribution tends to be weighted more toward retail investors (73% of AUM), as opposed to institutional (24%)
Good Signs 2018 1,618 1,559 1,527 1,412 6,115
and high-net-worth (3%) clients. Franklin is, however, one of the more global firms of the U.S.-based asset managers
we cover, with half of its AUM invested in global/international strategies and a third of managed assets sourced from
Financial Strength: Strong 2019 1,434 1,477 1,453 1,413 5,776 clients domiciled outside the United States.... (Read More)
Financial Strength 2020 Competitors: XAMS:HAL , OSTO:INDU A, OSTO:LATO B, OSTO:LUND B, LSE:SDR, XSWX:BAER, LSE:HL.,
NAS:SEIC, NAS:AABA, BOM:541729, LSE:SLA, OSTO:EQT, XBRU:GBLB, NYSE:ARES, ASX:MFG, XPAR:AMUN,
Interest Coverage: Quarterly Earnings per Share HKSE:01359, LSE:MNG, NAS:ARCC, XBRU:SOF
Comfortable Mar Jun Sep Dec Full Year Insider Trades
Dividend Yield %: Close to 2016 0.61 0.77 0.82 0.77 2.97
10-year high 2017 0.74 0.73 0.76 -1.06 1.17
2018 0.78 0.75 0.96 0.54 3.03
Price: Close to 10-year low 2019 0.72 0.48 0.61 0.70 2.51
PE Ratio: Close to 10-year 2020
low Quarterly Dividends Per Share
PB Ratio: Close to 10-year Mar Jun Sep Dec Full Year
low 2016 0.18 0.18 0.18 0.20 0.74
PS Ratio: Close to 10-year 2017 0.20 0.20 0.20 0.23 0.83
low 2018 0.23 0.23 0.23 0.26 0.95
2019 0.26 0.26 0.26 0.27 1.05
2020
DCF
Growth Rate
GuruFocus does not
calculate intrinsic value: DCF Annual Rates(per share) 10-Y 5-Y 12-M
(Earnings Based) for Revenue Growth (%) 4.40 -3.20 -0.30
companies with one star
EBITDA Growth (%) 3.70 -7.90 -2.40
predictability or not rated. But
you can go to each stock's Free Cash Flow Growth (%) 0.00 0.00 -113.20
DCF page to calculate Book Value Growth (%) 7.10 0.90 6.30
yourself. EPS Growth (%) 1.30 -13.20 -17.20
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/BEN 1/7
Per Share Data
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
4.46 5.52 6.46 8.21 8.44 6.04 8.58 10.72 11.04 12.59 13.58 12.93 11.34 11.43 11.75 11.45 11.54 Revenue per Share
2.79 3.72 4.46 3.55 3.45 2.12 3.45 4.13 4.35 4.99 5.68 5.15 4.52 4.80 4.35 3.50 3.74 EBITDA per Share
2.55 3.45 4.19 3.29 3.15 1.86 3.06 4.00 4.22 4.85 5.53 4.99 4.37 4.65 4.21 3.32 3.54 EBIT per Share
0.92 1.35 1.62 2.34 2.22 1.28 2.11 2.87 2.98 3.37 3.79 3.29 2.94 3.01 1.39 2.35 2.51 Earnings per Share (diluted)
0.91 1.35 1.62 2.34 2.22 1.28 2.11 2.87 2.98 3.37 3.79 3.29 2.94 3.01 1.39 2.35 2.51 eps without NRI
1.37 1.62 1.99 2.33 1.91 0.65 2.30 2.11 1.39 2.94 3.10 3.06 2.56 3.32 3.01 2.64 2.69 Owner Earnings per Share (TTM)
1.17 0.99 1.55 2.09 1.87 0.86 2.34 2.24 1.54 3.11 3.34 3.55 2.79 1.90 3.95 -0.06 -0.51 Free Cashflow per Share
0.11 0.13 0.16 0.20 0.27 0.28 0.29 0.33 0.36 0.39 0.48 0.60 0.72 0.80 0.92 1.04 1.05 Dividends per Share
6.82 7.50 8.80 9.96 10.13 11.09 11.50 13.05 14.45 15.97 18.60 19.62 20.93 22.74 19.07 19.84 20.26 Book Value per Share
4.08 4.80 6.19 7.16 7.24 8.18 8.51 9.76 11.09 12.23 14.86 15.88 17.05 18.73 14.57 13.84 14.17 Tangible Book per Share
1.82 1.91 1.13 0.79 0.19 0.09 1.46 3.37 4.36 3.64 3.45 3.57 3.65 1.98 1.40 1.50 2.24 Total Debt per Share
18.59 27.99 35.25 42.50 29.38 33.53 35.63 31.88 41.69 50.55 54.61 37.26 35.57 44.51 30.41 28.86 23.35 Month End Stock Price
Ratios
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
15.01 19.60 20.50 25.30 22.05 12.20 18.83 23.57 21.66 22.17 21.89 17.27 14.43 13.72 6.63 11.96 12.70 Return on Equity %
9.30 12.35 13.78 18.25 16.62 9.62 14.33 15.71 13.54 14.27 15.02 12.45 10.65 10.09 4.79 8.27 8.80 Return on Assets %
412 561 658 467 404 237 385 468 305 244 277 280 255 258 288 274 257 Return on Capital %
49.98 63.64 73.19 46.70 45.02 26.48 45.95 53.65 35.31 31.88 33.95 32.25 26.80 27.86 15.26 24.14 21.61 Return on Invested Capital %
9.66 10.09 11.29 11.18 11.33 12.26 11.62 10.55 10.04 11.43 12.40 11.23 9.99 11.40 10.92 7.82 6.47 Weighted Average Cost Of Capital (WACC) %
-- -- -- 3.22 4.41 3.85 3.16 2.35 1.47 1.85 2.13 1.84 2.35 3.24 5.33 3.35 3.08 Effective Interest Rate on Debt %
-- -- -- 65.18 67.89 67.76 61.00 44.76 43.74 44.56 46.34 46.96 46.04 45.80 45.72 41.05 40.47 Gross Margin %
57.18 62.52 64.84 33.32 34.80 28.67 35.69 37.25 35.42 36.58 37.93 38.09 35.75 35.42 33.53 26.97 26.64 Operating Margin %
20.55 24.54 25.10 28.57 26.33 21.38 24.70 26.94 27.20 26.93 28.08 25.61 26.09 26.54 12.10 20.71 21.99 Net Margin %
26.28 17.98 23.93 25.45 22.20 14.23 27.23 20.87 13.91 24.72 24.55 27.47 24.63 16.59 33.60 -0.56 -4.42 FCF Margin %
0.27 0.26 0.13 0.08 0.02 0.01 0.13 0.26 0.30 0.23 0.19 0.18 0.18 0.09 0.07 0.08 0.11 Debt to Equity
0.62 0.64 0.70 0.74 0.77 0.81 0.72 0.62 0.62 0.66 0.71 0.73 0.74 0.72 0.69 0.68 0.67 Total Equity to Total Asset
0.17 0.16 0.09 0.06 0.01 0.01 0.09 0.16 0.19 0.15 0.13 0.13 0.13 0.06 0.05 0.05 0.07 Total Debt to Total Asset
45.24 50.35 54.92 41.63 42.86 30.49 35.39 26.11 21.77 23.61 24.79 22.84 18.79 17.41 18.10 16.39 16.19 Gross Profit to Total Asset %
0.45 0.50 0.55 0.64 0.63 0.45 0.58 0.58 0.50 0.53 0.54 0.49 0.41 0.38 0.40 0.40 0.40 Asset Turnover
0.13 0.10 0.10 0.09 0.12 0.22 0.14 0.12 0.12 0.12 0.13 0.18 0.25 0.27 0.66 0.44 0.42 Dividend Payout Ratio
-- -- -- -- -- -- -- 39.53 43.70 47.49 40.84 38.48 43.81 57.21 48.98 53.03 49.77 Days Sales Outstanding
-- -- -- 92.40 97.98 106 87.39 24.61 22.07 22.57 19.03 20.10 23.85 30.71 24.14 32.64 26.86 Days Accounts Payable
-- -- -- -92.40 -97.98 -106 -87.39 14.92 21.63 24.92 21.81 18.38 19.96 26.50 24.84 20.39 22.91 Cash Conversion Cycle
-- -- -- 0.35 0.32 0.32 0.39 0.55 0.56 0.55 0.54 0.53 0.54 0.54 0.54 0.59 0.60 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/BEN 2/7
ncome Statement
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
3,438 4,310 5,051 6,206 6,032 4,194 5,853 7,140 7,101 7,985 8,491 7,949 6,618 6,392 6,319 5,775 5,776 Revenue
-- -- -- 2,161 1,937 1,352 2,283 3,944 3,995 4,427 4,556 4,216 3,571 3,465 3,430 3,404 3,438 Cost of Goods Sold
3,438 4,310 5,051 4,045 4,095 2,842 3,570 3,196 3,106 3,558 3,935 3,733 3,047 2,928 2,889 2,370 2,338 Gross Profit
-- -- -- 65.18 67.89 67.76 61.00 44.76 43.74 44.56 46.34 46.96 46.04 45.80 45.72 41.05 40.47 Gross Margin %
112 137 156 1,588 1,626 1,349 1,316 536 591 637 714 706 682 663 770 813 799 Selling, General, & Admin. Expense
274 287 302 318 -- -- 166 173 183 -- -- -- -- -- -- -- -- Research & Development
1,087 1,191 1,317 71.70 370 291 -- -173 -183 -- 0.00 -- -- -- 0.00 -0.00 -0.00 Other Operating Expense
1,966 2,695 3,275 2,068 2,099 1,203 2,089 2,660 2,515 2,921 3,221 3,028 2,366 2,264 2,119 1,557 1,539 Operating Income
57.18 62.52 64.84 33.32 34.80 28.67 35.69 37.25 35.42 36.58 37.93 38.09 35.75 35.42 33.53 26.97 26.64 Operating Margin %
-- -- -- 133 100 31.92 12.90 11.00 12.50 7.50 9.10 10.80 36.50 74.90 76.50 31.00 27.40 Interest Income
-- -- -- -23.22 -15.76 -3.77 -16.50 -37.40 -36.70 -46.90 -47.40 -39.60 -49.90 -51.50 -48.70 -24.70 -25.00 Interest Expense
-- -- -- 110 84.67 28.15 -3.60 -26.40 -24.20 -39.40 -38.30 -28.80 -13.40 23.40 27.80 6.30 2.40 Net Interest Income
-972 -1,274 -1,439 288 52.92 57.86 -15.30 -9.20 187 145 227 29.60 148 261 68.80 84.10 206 Other Income (Expense)
-- -- -- -- -- -7.51 -5.80 103 15.90 -20.50 -27.40 -69.40 -31.00 -93.00 21.70 -9.80 -23.30 Other Income (Minority Interest)
994 1,421 1,836 2,465 2,237 1,289 2,070 2,624 2,678 3,027 3,410 3,028 2,500 2,549 2,215 1,648 1,747 Pre-Tax Income
-292 -363 -568 -692 -648 -384 -618 -803 -763 -856 -998 -924 -742 -759 -1,473 -442 -454 Tax Provision
29.38 25.56 30.94 28.08 28.99 29.82 29.87 30.62 28.48 28.28 29.27 30.50 29.69 29.79 66.47 26.84 25.97 Tax Rate %
702 1,058 1,268 1,773 1,588 904 1,452 1,821 1,916 2,171 2,412 2,105 1,758 1,790 743 1,206 1,294 Net Income (Continuing Operations)
707 1,058 1,268 1,773 1,588 897 1,446 1,924 1,931 2,150 2,384 2,035 1,727 1,697 764 1,196 1,270 Net Income
20.55 24.54 25.10 28.57 26.33 21.38 24.70 26.94 27.20 26.93 28.08 25.61 26.09 26.54 12.10 20.71 21.99 Net Margin %
0.95 1.41 1.66 2.37 2.24 1.29 2.12 2.89 2.99 3.37 3.79 3.29 2.94 3.01 1.39 2.35 2.51 EPS (Basic)
0.92 1.35 1.62 2.34 2.22 1.28 2.11 2.87 2.98 3.37 3.79 3.29 2.94 3.01 1.39 2.35 2.51 EPS (Diluted)
771 782 782 756 715 694 682 666 643 634 625 615 584 559 538 504 495 Shares Outstanding (Diluted
Average)
183 212 215 199 215 181 267 88.40 82.10 93.50 94.60 97.40 87.10 80.30 76.40 93.40 99.90 Depreciation, Depletion and
Amortization
2,149 2,907 3,490 2,687 2,468 1,474 2,354 2,750 2,797 3,167 3,552 3,165 2,637 2,681 2,340 1,766 1,872 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/BEN 3/7
Balance Sheet
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
2,814 3,076 3,613 3,304 2,315 2,983 3,985 5,199 6,051 6,323 7,596 8,368 8,483 8,750 6,911 5,958 5,976 Cash And Cash Equivalents
690 873 1,106 1,205 1,793 1,582 1,568 2,422 -- -- -- -- -- -- -- -- -- Marketable Securities
3,504 3,949 4,719 4,510 4,108 4,564 5,553 7,621 6,051 6,323 7,596 8,368 8,483 8,750 6,911 5,958 5,976 Cash, Cash Equivalents, Marketable
Securities
-- -- -- -- -- -- -- 773 850 1,039 950 838 794 1,002 848 839 788 Accounts Receivable
133 122 771 82.08 51.25 98.23 125 -- -- -0.00 -- -- 0.00 -- -- -- -- Other Current Assets
4,044 4,621 6,118 5,457 4,850 5,244 6,363 8,544 7,156 7,592 8,546 9,206 9,278 9,752 7,759 6,797 6,764 Total Current Assets
389 453 472 704 916 1,090 1,134 1,768 4,615 4,584 4,678 4,109 3,930 4,861 3,536 3,860 4,045 Investments And Advances
-- -- -- 73.47 72.34 72.22 72.58 75.20 75.00 74.40 74.30 74.20 74.10 74.20 74.10 80.10 -- Land And Improvements
-- -- -- -- -- -- -- -- 560 566 562 557 564 581 628 789 -- Buildings And Improvements
-- -- -- 662 548 553 618 647 667 710 694 734 756 805 799 847 -- Machinery, Furniture, Equipment
471 489 506 1,204 1,099 1,112 1,193 1,274 1,303 1,350 1,330 1,365 1,394 1,460 1,501 1,716 967 Gross Property, Plant and Equipment
-- -- -- -644 -544 -576 -644 -685 -720 -786 -799 -855 -871 -943 -966 -1,032 -- Accumulated Depreciation
471 489 506 559 555 535 549 590 583 564 531 510 523 517 535 684 967 Property, Plant and Equipment
2,053 2,047 1,981 2,058 2,018 2,005 2,007 2,148 2,142 2,359 2,326 2,257 2,211 2,228 2,333 2,995 3,032 Intangible Assets
1,382 1,391 1,407 1,456 1,438 1,437 1,444 1,536 1,541 1,702 1,691 1,661 1,661 1,687 1,795 2,130 -- Goodwill
1,271 1,284 422 1,154 838 593 655 726 256 292 276 253 157 177 221 198 194 Other Long Term Assets
8,228 8,894 9,500 9,932 9,177 9,468 10,708 13,776 14,752 15,390 16,357 16,336 16,099 17,534 14,384 14,532 15,002 Total Assets
288 206 263 547 520 394 547 266 242 274 238 232 233 292 227 304 253 Accounts Payable
76.86 25.73 97.94 120 66.03 28.36 99.20 129 -- -- -- -- -- 74.70 1,035 825 887 Total Tax Payable
777 661 849 990 893 633 646 395 242 274 314 325 338 480 1,389 1,267 1,282 Accounts Payable & Accrued
Expense
170 239 232 420 13.29 64.16 30.00 -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
-26.14 -48.09 789 26.08 29.33 28.35 331 1,661 -- -- -- -- -- -- -- -- -- Other Current Liabilities
921 852 1,871 1,436 936 726 1,007 2,055 242 274 314 325 338 480 1,389 1,267 1,282 Total Current Liabilities
1,196 1,208 628 162 118 -- 950 2,201 2,777 2,295 2,149 2,155 2,083 1,098 729 748 796 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 318 Capital Lease Obligation
1,196 1,208 628 162 118 -- 950 2,201 2,777 2,295 2,149 2,155 2,083 1,098 729 748 1,114 Long-Term Debt & Capital Lease
Obligation
0.27 0.26 0.13 0.08 0.02 0.01 0.13 0.26 0.30 0.23 0.19 0.18 0.18 0.09 0.07 0.08 0.11 Debt to Equity
-- -- -- -- -- -- -- -- 401 445 465 433 357 397 406 502 354 PensionAndRetirementBenefit
236 235 212 215 146 219 238 274 276 273 259 241 162 171 127 120 133 NonCurrent Deferred Liabilities
76.09 76.11 95.80 41.40 77.16 67.39 22.99 598 559 612 628 655 592 316 309 718 753 Minority Interest
692 838 9.24 746 824 825 764 123 1,295 1,419 957 685 630 2,454 1,526 1,271 1,285 Other Long-Term Liabilities
3,045 3,133 2,719 2,559 2,025 1,769 2,958 4,653 4,991 4,705 4,145 3,840 3,571 4,598 4,176 3,908 4,167 Total Liabilities
24.97 25.27 25.33 24.55 23.28 22.93 22.40 21.80 63.70 63.10 62.30 60.40 57.00 55.50 51.90 49.80 Common Stock
49.90
4,752 5,206 6,334 7,049 7,045 7,506 7,531 8,463 9,076 10,004 11,640 12,095 12,226 12,849 10,218 10,288 10,408 Retained Earnings
75.18 99.72 140 258 6.35 103 174 40.40 62.00 6.10 -118 -314 -347 -285 -371 -432 -376 Accumulated other comprehensive
income (loss)
255 375 186 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Additional Paid-In Capital
5,107 5,684 6,685 7,332 7,074 7,632 7,727 8,525 9,201 10,073 11,584 11,841 11,936 12,620 9,899 9,907 10,082 Total Equity
0.62 0.64 0.70 0.74 0.77 0.81 0.72 0.62 0.62 0.66 0.71 0.73 0.74 0.72 0.69 0.68 0.67 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/BEN 4/7
Cashflow Statement
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
707 1,058 1,268 1,773 1,588 904 1,452 1,821 1,916 2,171 2,412 2,105 1,758 1,790 743 1,206 1,294 Net Income
707 1,058 1,268 1,773 1,588 904 1,452 1,821 1,916 2,171 2,412 2,105 1,758 1,790 743 1,206 1,294 Net Income From Continuing
Operations
183 212 215 199 215 181 267 88.40 82.10 93.50 94.60 97.40 87.10 80.30 76.40 93.40 99.90 Depreciation, Depletion and
Amortization
-69.84 -309 -484 -230 88.46 -41.79 -282 -230 -223 -268 -114 45.20 -10.80 -161 -21.60 -68.50 -117 Change In Receivables
143 48.34 76.43 246 -26.86 -111 299 98.00 -60.50 104 18.40 -60.40 -90.20 108 933 -20.90 56.30 Change In Payables And Accrued
Expense
227 48.34 76.43 -198 -420 -590 -93.20 -552 -1,064 -326 -467 -206 -300 114 853 143 75.90 Change In Working Capital
49.15 -20.07 112 -- 10.74 13.18 -12.10 -3.31 16.30 -- -- -- 9.00 8.80 -50.60 -1.30 0.90 Change In DeferredTax
-- -- -- 90.15 80.71 84.44 81.70 88.70 101 113 128 140 132 123 118 112 108 Stock Based Compensation
-237 -448 -393 -191 -79.27 -15.19 -45.80 165 5.10 -15.70 -29.00 108 13.80 -991 491 -1,350 -1,600 Cash Flow from Others
930 850 1,278 1,674 1,409 641 1,651 1,622 1,066 2,036 2,138 2,252 1,728 1,135 2,230 202 -21.50 Cash Flow from Operations
-25.93 -74.93 -69.05 -94.14 -70.22 -44.65 -57.40 -132 -78.40 -62.20 -53.10 -68.80 -97.60 -74.90 -107 -234 -234 Purchase Of Property, Plant,
Equipment
4.68 7.35 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-68.26 -0.04 -3.80 -92.31 -- -- -- -111 -- -- -- -- -- -14.00 -86.80 -684 -685 Purchase Of Business
-- -- -- -- 6.72 0.53 -- -- -- 0.80 -- -- -- -- -- -- -- Sale Of Business
-2,449 -1,341 -774 -1,067 -2,264 -2,078 -760 -1,558 -853 -1,257 -1,038 -736 -713 -523 -457 -502 -446 Purchase Of Investment
3,505 1,412 864 939 1,231 2,413 784 2,064 1,408 1,527 1,254 1,054 1,003 713 360 343 358 Sale Of Investment
-125 -261 18.98 8.06 -0.00 -0.53 0.00 173 397 24.30 228 -- -- -49.20 0.00 0.00 -- Cash From Other Investing Activities
841 -258 36.52 -306 -1,096 290 -32.70 436 873 233 391 249 192 52.00 -290 -1,077 -1,008 Cash Flow from Investing
128 131 98.30 66.13 -- 24.36 41.80 49.60 49.10 41.30 32.60 25.50 24.10 24.90 24.80 23.30 -- Issuance of Stock
-67.59 -170 -986 -1,289 -1,543 -377 -676 -954 -797 -491 -622 -1,060 -1,308 -765 -1,425 -755 -555 Repurchase of Stock
77.72 241 -48.70 -140 -513 -79.84 852 -340 313 -744 -180 -14.70 -93.80 -642 -383 18.10 65.80 Net Issuance of Debt
-82.01 -599 -118 -143 -179 -193 -884 -216 -663 -883 -290 -666 -409 -441 -2,117 -519 -527 Cash Flow for Dividends
36.10 39.58 201 122 935 285 71.10 493 13.30 58.20 -135 103 -14.30 867 138 1,191 1,339 Other Financing
92.42 -357 -853 -1,449 -1,300 -341 -595 -968 -1,085 -2,018 -1,195 -1,612 -1,801 -956 -3,762 -40.50 346 Cash Flow from Financing
1,863 235 461 -28.95 -1,057 577 1,019 1,075 853 272 1,273 772 115 266 -1,839 -953 -683 Net Change in Cash
-25.93 -74.93 -69.05 -94.14 -70.22 -44.65 -57.40 -132 -78.40 -62.20 -53.10 -68.80 -97.60 -74.90 -107 -234 -234 Capital Expenditure
904 775 1,209 1,579 1,339 597 1,594 1,490 988 1,974 2,085 2,183 1,630 1,061 2,123 -32.10 -255 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/BEN 5/7
Valuation Ratios
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
20.35 20.73 21.80 18.14 13.23 26.13 16.91 11.10 13.96 15.00 14.41 11.29 12.10 14.84 21.27 12.28 9.30 PE Ratio(TTM)
13.55 17.33 17.74 18.22 15.39 51.90 15.48 15.09 29.97 17.19 17.59 12.18 13.92 13.43 10.12 10.94 8.69 Price to Owner Earnings
(TTM)
2.73 3.73 4.01 4.27 2.90 3.02 3.10 2.44 2.88 3.17 2.94 1.90 1.70 1.96 1.59 1.45 1.15 Price to Book
4.56 5.83 5.69 5.93 4.06 4.10 4.19 3.27 3.76 4.13 3.67 2.35 2.09 2.38 2.09 2.08 1.65 Price to Tangible Book
15.88 28.33 22.95 20.42 15.66 38.94 15.27 14.21 27.11 16.24 16.35 10.50 12.66 23.51 7.66 -- -- Price-to-Free-Cash-Flow
Ratio
15.43 25.82 21.71 19.27 14.88 36.25 14.74 13.06 25.14 15.74 15.94 10.18 11.94 21.96 7.29 73.62 -- Price-to-Operating-Cash-
Flow Ratio
4.18 5.09 5.47 5.18 3.49 5.55 4.16 2.97 3.78 4.01 4.02 2.88 3.14 3.89 2.59 2.52 2.02 PS Ratio
1.98 1.60 1.32 1.64 1.12 -- -- -- 1.93 0.90 0.93 1.22 3.88 -- -- -- -- PEG Ratio
3.45 4.36 4.56 4.42 2.75 4.44 3.31 2.24 3.36 3.57 3.44 2.13 2.19 2.72 1.57 1.72 1.30 EV-to-Revenue
5.52 6.47 6.60 8.95 6.73 12.65 8.25 5.63 8.38 8.99 8.22 5.35 5.49 6.48 4.24 5.62 4.00 EV-to-EBITDA
6.03 6.98 7.03 9.57 7.38 14.42 9.30 6.01 8.78 9.27 8.45 5.52 5.68 6.68 4.38 5.93 4.23 EV-to-EBIT
16.58 14.33 14.22 10.45 13.55 6.93 10.75 16.64 11.39 10.79 11.83 18.12 17.61 14.97 22.83 16.86 23.64 Return on Capital %
14.72 15.96 19.33 14.02 16.89 -1.51 -5.68 1.85 11.36 20.40 19.87 16.50 11.26 5.55 6.43 0.96 2.16 Forward Rate of Return
25.44 32.71 38.15 38.06 22.59 24.92 24.22 18.26 20.77 22.17 21.10 13.52 12.34 14.89 10.38 9.40 7.58 Shiller PE Ratio
0.60 0.47 0.45 0.47 0.91 0.84 0.82 1.04 0.86 0.77 0.88 1.61 2.02 1.80 3.03 3.60 4.51 Dividend Yield %
Valuation and Quality
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
13,925 21,223 26,781 31,297 20,517 23,068 23,944 20,820 26,541 31,893 34,016 22,487 20,287 24,697 15,787 14,410 11,603 Market Cap
11,863 18,797 23,018 27,411 16,618 18,635 19,394 15,998 23,826 28,477 29,197 16,929 14,480 17,361 9,913 9,918 7,493 Enterprise Value
18.59 27.99 35.25 42.50 29.38 33.53 35.63 31.88 41.69 50.55 54.61 37.26 35.57 44.51 30.41 28.86 23.35 Month End Stock Price
0.51 0.98 2.51 2.59 2.87 3.97 3.83 3.63 0.79 1.59 4.53 6.42 7.57 6.91 4.67 2.67 2.12 Net Cash (per share)
1.23 1.86 4.35 3.88 3.93 4.95 5.03 5.04 2.52 3.61 6.06 7.81 8.97 8.72 6.31 4.35 3.70 Net Current Asset Value
(per share)
0.51 0.98 2.51 2.59 2.87 3.97 3.83 4.52 1.79 2.83 5.68 7.46 8.62 8.27 5.90 3.93 3.31 Net-Net Working Capital (per
share)
14.35 18.05 21.59 26.74 30.20 24.37 25.81 29.50 34.33 44.05 49.66 50.79 45.44 46.64 48.85 44.67 44.30 Projected FCF (per share)
18.27 23.26 28.97 37.23 36.94 26.98 39.59 49.41 50.61 57.44 59.65 54.29 45.56 44.24 44.98 43.51 43.59 Median PS (per share)
9.38 17.47 26.61 25.87 26.24 12.53 -- 17.29 21.62 55.98 58.44 30.43 14.79 -- -- -- -- Peter Lynch Fair Value (per
share)
9.14 12.09 15.02 19.43 19.03 15.37 20.10 25.11 27.27 30.45 35.60 34.29 33.58 35.61 21.35 27.05 28.29 Graham Number (per share)
20.44 23.67 30.68 31.71 36.32 35.64 35.35 35.65 33.13 36.01 44.19 48.14 51.02 54.04 48.45 43.28 41.98 Earnings Power Value
(EPV)
4.82 6.40 8.55 10.27 9.13 10.40 7.63 5.27 5.70 6.73 7.74 6.31 6.07 5.74 4.75 4.44 3.86 Altman Z-Score
6.00 6.00 7.00 7.00 5.00 5.00 6.00 5.00 4.00 7.00 7.00 7.00 5.00 4.00 5.00 5.00 5.00 Piotroski F-Score
-1.74 -1.49 -1.79 -2.40 -2.37 -2.59 -2.58 -1.97 -1.88 -2.26 -2.57 -2.72 -2.56 -1.98 -3.34 -2.07 -2.03 Beneish M-Score
0.44 0.40 0.33 0.36 0.32 0.35 0.34 0.35 0.47 0.45 0.44 0.38 0.38 0.33 0.23 0.38 0.41 Scaled Net Operating
Assets
-12.94 5.23 -0.49 4.08 13.90 -0.37 -1.61 -0.97 -0.06 -0.77 -0.88 -2.85 -1.20 2.90 -8.17 14.25 15.33 Sloan Ratio (%)
4.39 5.42 3.27 3.80 5.18 7.23 6.32 4.16 29.62 27.74 27.18 28.35 27.46 20.34 5.58 5.37 5.28 Current Ratio
4.39 5.42 3.27 3.80 5.18 7.23 6.32 4.16 29.62 27.74 27.18 28.35 27.46 20.34 5.58 5.37 5.28 Quick Ratio
20.02 28.11 35.26 47.98 47.40 34.49 40.44 45.75 42.67 56.11 58.51 58.84 41.92 47.28 45.86 35.67 35.82 Highest Stock Price
14.52 18.83 26.08 34.62 27.67 12.89 28.32 31.88 30.13 41.55 49.52 36.36 30.67 33.18 30.14 25.93 21.36 Lowest Stock Price
-1.52 -1.23 -0.20 3.07 5.17 1.48 2.32 2.82 2.52 0.90 1.27 3.11 5.50 2.71 6.44 3.82 2.71 Shares Buyback Ratio (%)
29.76 23.65 17.04 27.11 2.85 -28.43 42.05 24.90 3.00 14.09 7.85 -4.82 -12.31 0.86 2.74 -2.51 -0.33 YoY Rev. per Sh. Growth
(%)
39.59 47.64 19.70 44.65 -5.12 -42.28 64.42 36.02 3.83 13.09 12.46 -13.19 -10.64 2.38 -53.82 69.06 -17.16 YoY EPS Growth (%)
33.91 33.39 19.92 -20.34 -2.84 -38.53 62.58 19.62 5.35 14.86 13.76 -9.38 -12.26 6.15 -9.28 -19.49 -2.38 YoY EBITDA Growth (%)
10.35 12.94 16.46 11.04 11.82 -6.19 -10.35 -3.88 7.24 16.61 15.42 9.22 3.12 -0.85 -3.80 -7.81 -7.90 EBITDA 5-Y Growth (%)
746 752 765 748 709 691 678 663 641 633 625 615 584 559 537 504 495 Shares Outstanding (Basic
Average)
749 758 760 736 698 688 672 653 637 631 623 604 570 555 519 499 497 Shares Outstanding (EOP)
1.05 1.07 1.19 1.14 1.29 1.51 1.54 1.53 1.52 1.58 1.77 1.69 1.55 1.63 1.42 1.08 0.94 Beta
12/14/04 12/14/05 12/20/06 11/29/07 11/25/08 11/24/09 11/16/10 11/15/11 11/15/12 11/12/13 11/12/14 11/12/15 11/14/16 11/13/17 11/09/18 11/12/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/BEN 6/7
12/14/05 12/20/06 11/29/07 11/25/08 11/24/09 11/16/10 11/15/12 11/12/13 11/12/14 11/12/15 11/14/16 11/13/17 11/09/18 11/12/19 11/12/19 11/12/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/BEN 7/7
Medtronic PLC (NYSE:MDT) 03/02/2020 4:10PM EST GuruFocus
Price: $ 102.62 +1.95(+1.94%) Market Cap: $ 137.59 B Enterprise Value: $151.68 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 26.05
Cash to Debt 0.46 Operating margin (%) 22.12
Forward P/E N/A
Equity to Asset 0.56 Net-margin (%) 17.11
PE(NRI) 26.05
Interest Coverage 4.17 ROE (%) 10.52
F-Score:
P/B 2.68
ROA (%) 5.86
7 P/S 4.47
Z-Score: ROC (Joel Greenblatt) (%) 72.75
3.22 PFCF 20.83
Revenue Growth (3Y)(%) 3.60
M-Score: POCF 17.62
-2.54 EBITDA Growth (3Y)(%) 4.60
EV-to-EBIT 22.34
WACC vs 3.41% EPS Growth (3Y)(%) 11.20
ROIC 10.85% PEG 3.17
WACC
ROIC Shiller P/E 31.25
Current Ratio 2.75
Quick Ratio 2.28
Days Inventory 149.25
Days Sales Outstanding 73.42
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year Medtronic PLC is one of the largest medical device companies, develops and manufactures therapeutic medical
devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps,
slow down 2016 6,934 7,567 7,166 7,345 29,012 spinal fixation devices, neurovascular products, and surgical tools. The company markets its products to healthcare
2017 7,283 7,916 7,390 7,050 29,639 institutions and physicians in the United States and overseas. Foreign sales account for about 45% of the company's
Tax Rate: Tax Rate is too low total sales.... (Read More)
2018 7,369 8,144 7,384 7,481 30,378
Competitors: NYSE:ABT, NYSE:SYK, NYSE:BSX, NYSE:EW, SZSE:300760 , NYSE:ZBH, LSE:SN.,
2019 7,546 8,146 7,493 7,706 30,891 NAS:ALGN, NAS:PODD, NYSE:BIO, SZSE:300003, ASX:COH, NAS:BRKR, NAS:ABMD, OCSE:GN, NYSE:PEN,
Good Signs 2020 7,717 HKSE:01066, SZSE:300529, NYSE:GMED, NAS:TNDM
Piotroski F-Score: High Quarterly Earnings per Share Insider Trades
PE Ratio: Close to 1-year low Mar Jun Sep Dec Full Year
2016 0.77 0.78 0.66 0.80 3.01
Insider Buy: Insider Buying 2017 0.59 0.84 0.74 1.48 3.65
2018 -1.03 1.07 0.79 0.82 1.65
DCF 2019 0.94 0.87 0.64 1.01 3.46
2020 1.42
EPS without NRI: $3.94
Growth Rate in the next 10 Quarterly Dividends Per Share
years: 5% Mar Jun Sep Dec Full Year
Terminal Growth Rate for 10 2016 0.38 0.38 0.43 0.43 1.62
years: 4% 2017 0.43 0.43 0.46 0.46 1.78
Fair Value: $42.16 2018 0.46 0.46 0.50 0.50 1.92
2019 0.50 0.50 0.54 0.54 2.08
2020 0.54
Reverse DCF
Expected eps Growth Rate: Growth Rate
18.66% Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 6.00 6.10 2.40
EBITDA Growth (%) 6.30 8.20 2.00
Free Cash Flow Growth (%) 1.50 -3.00 37.70
Book Value Growth (%) 14.50 9.70 3.10
EPS Growth (%) 1.40 1.70 8.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDT 1/7
Per Share Data
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
7.42 8.25 9.28 10.59 11.83 12.96 14.26 14.34 15.27 16.15 16.78 18.27 20.22 21.35 21.89 22.51 22.98 Revenue per Share
2.96 3.21 3.49 3.72 3.31 3.12 4.64 4.55 5.03 5.31 4.87 4.92 5.99 6.19 6.92 6.85 6.99 EBITDA per Share
2.60 2.83 3.04 3.22 2.75 2.50 3.94 3.80 4.24 4.52 4.03 3.74 4.01 4.09 4.99 4.89 5.02 EBIT per Share
1.60 1.48 2.09 2.41 1.95 1.84 2.79 2.86 3.41 3.37 3.02 2.41 2.48 2.89 2.27 3.41 3.94 Earnings per Share (diluted)
1.60 1.48 2.09 2.41 1.95 1.84 2.79 2.82 3.22 3.37 3.02 2.41 2.48 2.89 2.27 3.41 3.94 eps without NRI
2.00 1.45 1.01 1.85 1.96 1.97 3.23 2.32 3.80 4.06 3.46 2.38 2.81 4.31 2.84 3.70 3.91 Owner Earnings per Share (TTM)
1.98 1.94 0.79 1.97 2.52 2.85 3.15 3.00 3.76 4.37 4.50 3.91 2.93 4.04 2.64 4.33 4.93 Free Cashflow per Share
0.29 0.34 0.39 0.44 0.50 0.75 0.82 0.90 0.97 1.04 1.12 1.22 1.52 1.72 1.84 2.00 2.12 Dividends per Share
7.51 8.64 8.12 9.60 10.26 11.85 13.33 14.92 16.50 18.38 19.46 37.44 37.21 36.66 37.45 37.36 38.33 Book Value per Share
3.18 4.26 2.98 4.56 1.62 2.26 3.35 3.41 4.37 5.58 6.57 -10.83 -11.68 -8.55 -7.79 -7.78 -5.73 Tangible Book per Share
1.95 2.03 6.86 5.32 6.18 6.09 8.68 9.19 10.25 10.48 11.94 25.45 22.23 24.42 19.02 18.89 18.92 Total Debt per Share
50.71 52.70 50.12 52.93 48.68 32.00 43.69 41.75 38.20 46.68 58.82 74.45 79.15 83.09 80.13 88.81 103 Month End Stock Price
Ratios
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
23.07 18.48 25.68 27.52 19.82 16.75 22.29 20.24 21.87 19.38 16.08 7.36 6.72 7.88 6.15 9.19 10.52 Return on Equity %
14.78 11.74 14.04 14.30 10.70 9.04 11.99 10.58 11.44 10.24 8.42 3.70 3.43 4.04 3.25 5.11 5.86 Return on Assets %
98.21 111 103 82.76 60.83 51.55 76.89 67.73 73.00 79.06 79.21 65.55 64.93 61.86 79.72 75.94 72.75 Return on Capital %
24.37 25.68 28.81 23.67 18.29 16.72 18.83 17.00 17.68 21.27 22.57 8.03 6.92 7.45 4.86 9.06 10.85 Return on Invested Capital %
7.42 5.14 2.42 3.59 5.43 10.28 10.38 14.21 10.83 8.50 7.32 7.88 6.43 5.30 4.66 4.29 3.41 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 3.91 5.40 4.93 4.65 3.41 3.65 3.36 2.77 4.12 3.39 3.87 5.65 6.45 Effective Interest Rate on Debt %
75.21 75.67 75.07 74.24 74.50 75.90 75.90 76.14 75.97 75.13 74.52 68.86 68.29 68.72 69.73 70.04 68.96 Gross Margin %
35.01 34.25 32.81 30.40 27.01 23.73 29.47 28.76 27.70 28.75 28.33 22.49 20.67 20.15 20.14 21.70 22.12 Operating Margin %
21.56 17.94 22.56 22.78 16.51 14.18 19.59 19.96 22.35 20.90 18.02 13.20 12.27 13.56 10.36 15.16 17.11 Net Margin %
26.64 23.54 8.53 18.58 21.33 22.02 22.10 20.89 24.63 27.03 26.83 21.38 14.47 18.94 12.07 19.22 21.44 FCF Margin %
0.26 0.24 0.84 0.56 0.60 0.51 0.65 0.62 0.62 0.57 0.61 0.68 0.60 0.67 0.51 0.51 0.49 Debt to Equity
0.64 0.63 0.48 0.56 0.52 0.56 0.52 0.53 0.52 0.54 0.51 0.50 0.52 0.50 0.56 0.56 0.56 Total Equity to Total Asset
0.17 0.15 0.40 0.31 0.31 0.29 0.34 0.32 0.32 0.31 0.31 0.34 0.31 0.34 0.28 0.28 0.28 Total Debt to Total Asset
51.55 49.53 46.73 46.61 48.28 48.40 46.46 40.36 38.88 36.81 34.79 19.29 19.09 20.47 21.84 23.64 23.61 Gross Profit to Total Asset %
0.69 0.65 0.62 0.63 0.65 0.64 0.61 0.53 0.51 0.49 0.47 0.28 0.28 0.30 0.31 0.34 0.34 Asset Turnover
0.18 0.23 0.18 0.18 0.26 0.41 0.29 0.32 0.30 0.31 0.37 0.51 0.61 0.60 0.81 0.59 0.54 Dividend Payout Ratio
80.10 83.24 78.51 81.23 88.77 78.08 76.96 89.96 85.88 82.00 81.80 92.09 70.41 68.69 72.96 74.32 73.42 Days Sales Outstanding
56.09 55.51 41.36 32.49 40.57 39.63 40.22 50.41 53.03 60.24 62.50 93.14 68.23 61.07 65.54 77.86 73.62 Days Accounts Payable
147 139 140 138 132 140 139 157 164 155 145 150 138 134 139 146 149 Days Inventory
171 166 177 187 180 179 176 196 197 177 164 149 141 141 147 143 149 Cash Conversion Cycle
2.48 2.63 2.61 2.65 2.76 2.60 2.62 2.33 2.23 2.35 2.52 2.43 2.64 2.73 2.62 2.50 2.45 Inventory Turnover
0.25 0.24 0.25 0.26 0.25 0.24 0.24 0.24 0.24 0.25 0.25 0.31 0.32 0.31 0.30 0.30 0.31 COGS to Revenue
0.10 0.09 0.10 0.10 0.09 0.09 0.09 0.10 0.11 0.11 0.10 0.13 0.12 0.12 0.12 0.12 0.13 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDT 2/7
Income Statement
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
9,087 10,055 11,292 12,299 13,515 14,599 15,817 15,508 16,184 16,590 17,005 20,261 28,833 29,710 29,953 30,557 31,062 Revenue
2,253 2,446 2,815 3,168 3,446 3,518 3,812 3,700 3,889 4,126 4,333 6,309 9,142 9,294 9,067 9,155 9,643 Cost of Goods Sold
6,834 7,609 8,477 9,131 10,069 11,081 12,005 11,808 12,295 12,464 12,672 13,952 19,691 20,416 20,886 21,402 21,419 Gross Profit
75.21 75.67 75.07 74.24 74.50 75.90 75.90 76.14 75.97 75.13 74.52 68.86 68.29 68.72 69.73 70.04 68.96 Gross Margin %
2,801 3,214 3,659 4,153 4,707 5,866 5,415 5,427 5,623 5,698 5,847 6,904 9,469 10,018 10,238 10,418 10,370 Selling, General, & Admin. Expense
852 951 1,113 1,239 1,275 1,355 1,460 1,472 1,490 1,557 1,477 1,640 2,224 2,193 2,256 2,330 2,357 Research & Development
-- -- -- -- 436 396 468 449 699 439 530 851 2,038 2,219 2,358 2,022 1,822 Other Operating Expense
3,181 3,444 3,705 3,739 3,651 3,464 4,662 4,460 4,483 4,770 4,818 4,557 5,960 5,986 6,034 6,632 6,870 Operating Income
35.01 34.25 32.81 30.40 27.01 23.73 29.47 28.76 27.70 28.75 28.33 22.49 20.67 20.15 20.14 21.70 22.12 Operating Margin %
-- -- -- -- 364 188 156 172 200 237 271 386 431 366 397 -- -- Interest Income
-- -- -- -- -255 -371 -402 -450 -349 -388 -379 -666 -1,386 -1,094 -1,146 -1,444 -1,648 Interest Expense
-- -- -- -- 109 -183 -246 -278 -149 -151 -108 -280 -955 -1,094 -1,146 -1,444 -1,648 Net Interest Income
-385 -900 -544 -224 -875 -841 -447 -518 -189 -368 -1,005 -791 -669 -290 787 9.00 -80.00 Other Income (Expense)
-- -- -- -- -- -- -- -- -- -- -- -- -- 4.00 9.00 -19.00 -34.00 Other Income (Minority Interest)
2,797 2,544 3,161 3,515 2,885 2,440 3,969 3,664 4,145 4,251 3,705 3,486 4,336 4,602 5,675 5,197 5,142 Pre-Tax Income
-838 -740 -615 -713 -654 -370 -870 -609 -730 -784 -640 -811 -798 -578 -2,580 -547 207 Tax Provision
29.95 29.09 19.46 20.28 22.67 15.16 21.92 16.62 17.61 18.44 17.27 23.26 18.40 12.56 45.46 10.53 -4.03 Tax Rate %
1,959 1,804 2,547 2,802 2,231 2,070 3,099 3,055 3,415 3,467 3,065 2,675 3,538 4,024 3,095 4,650 5,349 Net Income (Continuing Operations)
-- -- -- -- -- -- -- 41.00 202 -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
1,959 1,804 2,547 2,802 2,231 2,070 3,099 3,096 3,617 3,467 3,065 2,675 3,538 4,028 3,104 4,631 5,315 Net Income
21.56 17.94 22.56 22.78 16.51 14.18 19.59 19.96 22.35 20.90 18.02 13.20 12.27 13.56 10.36 15.16 17.11 Net Margin %
1.61 1.49 2.11 2.44 1.97 1.85 2.80 2.87 3.43 3.40 3.06 2.44 2.51 2.92 2.29 3.44 3.96 EPS (Basic)
1.60 1.48 2.09 2.41 1.95 1.84 2.79 2.86 3.41 3.37 3.02 2.41 2.48 2.89 2.27 3.41 3.94 EPS (Diluted)
1,225 1,219 1,217 1,162 1,142 1,126 1,109 1,082 1,060 1,028 1,014 1,109 1,426 1,391 1,368 1,358 1,352 Shares Outstanding (Diluted
Average)
443 463 544 583 637 699 772 804 833 819 850 1,306 2,820 2,917 2,644 2,659 2,658 Depreciation, Depletion and
Amortization
3,624 3,907 4,249 4,322 3,777 3,510 5,143 4,918 5,327 5,458 4,934 5,458 8,542 8,613 9,465 9,300 9,448 EBITDA
Balance Sheet
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
1,594 2,232 2,994 1,256 1,060 1,271 1,400 1,382 1,172 919 1,403 4,843 2,876 4,967 3,669 4,393 3,709 Cash And Cash Equivalents
334 1,159 3,107 1,822 553 405 2,375 1,046 8,178 10,211 12,838 14,637 9,758 8,741 7,558 5,455 7,919 Marketable Securities
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDT 3/7
1,928 3,391 6,101 3,078 1,613 1,676 3,775 2,428 9,350 11,130 14,241 19,480 12,634 13,708 11,227 9,848 11,628 Cash, Cash Equivalents, Marketable
Securities
1,994 2,293 2,429 2,737 3,287 3,123 3,335 3,822 3,808 3,727 3,811 5,112 5,562 5,591 5,987 6,222 6,248 Accounts Receivable
196 227 244 253 246 321 316 365 337 290 282 686 732 669 676 705 -- Inventories, Raw Materials &
Components
140 148 197 209 250 251 269 263 288 248 247 509 499 458 496 572 -- Inventories, Work In Process
541 607 736 753 784 854 896 1,067 1,175 1,174 1,196 2,268 2,242 2,211 2,407 2,476 -- Inventories, Finished Goods
0.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 4,122 Inventories, Other
878 982 1,177 1,215 1,280 1,426 1,481 1,695 1,800 1,712 1,725 3,463 3,473 3,338 3,579 3,753 4,122 Total Inventories
513 756 670 888 1,069 1,227 1,248 1,172 675 744 697 1,454 1,931 2,236 2,187 2,144 2,045 Other Current Assets
5,313 7,422 10,377 7,918 7,322 7,452 9,839 9,117 16,336 17,852 21,210 30,844 23,600 24,873 22,980 21,967 24,043 Total Current Assets
-- -- -- -- 2,322 2,769 4,632 6,120 -- -- -- -- -- -- -- -- -- Investments And Advances
83.50 85.00 92.00 95.00 123 124 137 137 135 151 152 217 215 186 187 181 -- Land And Improvements
820 891 955 1,007 1,240 1,296 1,427 1,489 1,475 1,532 1,565 2,314 2,394 2,175 2,265 2,267 -- Buildings And Improvements
2,103 2,363 2,513 2,784 3,066 3,144 3,525 3,888 3,858 4,110 4,409 5,649 6,328 6,435 6,749 7,361 -- Machinery, Furniture, Equipment
197 289 234 423 314 323 269 303 328 359 313 683 777 895 1,058 1,111 -- Construction In Progress
3,204 3,628 3,794 4,309 4,743 4,887 5,358 5,817 5,796 6,152 6,439 8,863 9,714 9,691 10,259 10,920 11,507 Gross Property, Plant and
Equipment
-1,496 -1,769 -1,913 -2,247 -2,522 -2,608 -2,937 -3,306 -3,323 -3,662 -4,047 -4,164 -4,873 -5,330 -5,655 -6,245 -6,743 Accumulated Depreciation
1,708 1,859 1,881 2,062 2,221 2,279 2,421 2,511 2,473 2,490 2,392 4,699 4,841 4,361 4,604 4,675 4,764 Property, Plant and Equipment
5,236 5,299 5,938 5,760 9,712 10,672 10,950 12,314 12,581 13,002 12,879 68,631 68,399 61,922 61,266 60,519 59,547 Intangible Assets
-- -- 4,346 4,327 7,519 8,195 8,391 9,537 9,934 10,329 10,593 40,530 41,500 38,515 39,543 39,959 40,091 Goodwill
1,854 2,037 1,469 3,772 621 416 248 362 1,428 1,556 1,462 2,511 2,804 8,701 2,543 2,533 4,468 Other Long Term Assets
14,111 16,617 19,665 19,512 22,198 23,588 28,090 30,424 32,818 34,900 37,943 106,685 99,644 99,857 91,393 89,694 92,822 Total Assets
346 372 319 282 383 382 420 511 565 681 742 1,610 1,709 1,555 1,628 1,953 1,945 Accounts Payable
-- -- -- -- -- 130 235 50.00 154 88.00 164 935 566 633 979 567 457 Total Tax Payable
1,882 2,901 1,970 2,054 2,381 2,625 1,545 2,095 1,727 2,013 2,912 5,009 4,460 4,806 6,038 5,445 5,982 Accounts Payable & Accrued
Expense
2,358 479 2,437 509 1,154 522 2,575 1,723 3,274 910 1,613 2,434 993 7,520 2,058 838 844 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- 14.00 16.00 19.00 119 -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- -- -- -- -- 14.00 16.00 19.00 119 -- -- -- -- -- DeferredTaxAndRevenue
-- -- -1.00 -- -- -- 1,001 896 912 1,011 1,015 1,611 1,712 1,938 1,988 2,189 1,909 Other Current Liabilities
4,241 3,380 4,406 2,563 3,535 3,147 5,121 4,714 5,927 3,950 5,559 9,173 7,165 14,264 10,084 8,472 8,735 Total Current Liabilities
1.10 1,973 5,486 5,578 5,802 6,253 6,944 8,112 7,194 9,589 10,176 33,623 30,083 25,898 23,678 24,476 24,732 Long-Term Debt
-- -- -- -- -- -- -- -- 165 152 139 129 26.00 23.00 21.00 10.00 -- Capital Lease Obligation
1.10 1,973 5,486 5,578 5,802 6,253 6,944 8,112 7,359 9,741 10,315 33,752 30,109 25,921 23,699 24,486 24,732 Long-Term Debt & Capital Lease
Obligation
0.26 0.24 0.84 0.56 0.60 0.51 0.65 0.62 0.62 0.57 0.61 0.68 0.60 0.67 0.51 0.51 0.49 Debt to Equity
-- -- -- -- 304 329 516 480 759 752 662 1,535 1,759 1,724 1,425 1,651 1,598 PensionAndRetirementBenefit
408 478 22.00 -- 519 590 684 716 276 340 386 4,700 3,729 2,978 1,423 1,278 1,282 NonCurrent Deferred Liabilities
-- -- -- -- -- -- -- -- -- -- -- -- -- 122 102 121 145 Minority Interest
384 336 368 394 502 87.00 196 434 1,384 1,446 1,578 4,295 4,819 4,640 3,940 3,595 4,522 Other Long-Term Liabilities
5,034 6,167 10,282 8,535 10,662 10,406 13,461 14,456 15,705 16,229 18,500 53,455 47,581 49,527 40,571 39,482 40,869 Total Liabilities
121 121 116 114 112 112 110 107 104 102 100.00 -- -- -- -- -- -- Common Stock
8,891 10,179 9,112 10,925 11,710 13,272 14,826 16,085 17,482 19,061 19,940 54,414 21,704 23,270 24,379 26,270 28,210 Retained Earnings
65.20 150 155 -63.00 -286 -202 -307 -224 -473 -492 -597 -1,184 -1,868 -2,613 -1,786 -2,711 -2,546 Accumulated other comprehensive
income (loss)
-- -- -- -- -- -- -- -- -- -- -- -- 32,227 29,551 28,127 26,532 26,144 Additional Paid-In Capital
9,077 10,450 9,383 10,977 11,536 13,182 14,629 15,968 17,113 18,671 19,443 53,230 52,063 50,208 50,720 50,091 51,808 Total Equity
0.64 0.63 0.48 0.56 0.52 0.56 0.52 0.53 0.52 0.54 0.51 0.50 0.52 0.50 0.56 0.56 0.56 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDT 4/7
Cashflow Statement
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
1,959 1,804 2,547 2,802 2,231 2,070 3,099 3,096 3,617 3,467 3,065 2,675 3,538 4,024 3,095 4,650 5,349 Net Income
1,959 1,804 2,547 2,802 2,231 2,070 3,099 3,096 3,617 3,467 3,065 2,675 3,538 4,024 3,095 4,650 5,349 Net Income From Continuing
Operations
443 463 544 583 637 699 772 804 833 819 850 1,306 2,820 2,917 2,644 2,659 2,658 Depreciation, Depletion and
Amortization
-172 -228 -217 -326 -461 108 -271 -342 -252 1.00 -70.00 -413 -435 -75.00 -275 -581 -560 Change In Receivables
128 -51.00 -257 -24.00 30.00 -212 158 -101 -185 93.00 -39.00 -282 -186 -227 -192 -274 -253 Change In Inventory
-97.40 -107 -86.00 -45.00 92.00 -121 33.00 -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
326 423 -968 17.00 61.00 510 225 -37.00 300 481 -117 849 -379 356 65.00 399 291 Change In Payables And Accrued
Expense
242 -20.00 -1,490 -448 -6.00 259 242 -1,012 18.00 360 218 797 -1,403 139 -173 -1,080 -780 Change In Working Capital
111 -143 105 -236 -49.00 -171 144 153 14.00 -7.00 -207 -926 -460 -459 -919 -304 -892 Change In DeferredTax
-- -- -- -- 217 237 225 198 161 152 145 439 375 348 344 290 297 Stock Based Compensation
91.70 715 501 278 459 784 -351 502 -173 151 888 611 348 -89.00 -307 792 1,239 Cash Flow from Others
2,846 2,819 2,207 2,979 3,489 3,878 4,131 3,741 4,470 4,942 4,959 4,902 5,218 6,880 4,684 7,007 7,871 Cash Flow from Operations
-425 -452 -1,244 -694 -513 -498 -573 -501 -484 -457 -396 -571 -1,046 -1,254 -1,068 -1,134 -1,212 Purchase Of Property, Plant,
Equipment
-- -- -- -- -4,221 -1,624 -350 -1,332 -556 -820 -385 -14,884 -1,213 -1,324 -137 -1,827 -411 Purchase Of Business
-- -- -- -- -- -- -- -- 386 -- -- -- -- -- 6,058 -- -- Sale Of Business
-2,684 -1,805 -8,065 -11,837 -6,433 -2,960 -7,478 -9,043 -9,704 -12,321 -10,895 -7,582 -5,406 -4,371 -3,200 -2,532 -8,794 Purchase Of Investment
1,473 808 6,627 10,894 8,557 2,845 3,791 9,318 7,717 10,511 8,111 5,890 9,924 5,356 4,227 4,683 6,315 Sale Of Investment
-- -- -- -- -93.00 -165 -62.00 -47.00 -15.00 -- -- -- -- -- -- -- -- Net Intangibles Purchase And Sale
-15.40 -154 -185 -64.00 -87.00 -338 -87.00 -129 -6.00 -14.00 -29.00 89.00 -14.00 22.00 -22.00 36.00 5.00 Cash From Other Investing Activities
-1,651 -1,603 -2,867 -1,701 -2,790 -2,740 -4,759 -1,734 -2,662 -3,101 -3,594 -17,058 2,245 -1,571 5,858 -774 -4,097 Cash Flow from Investing
241 339 1,035 331 403 416 165 85.00 96.00 267 1,307 649 491 428 403
992 686 Issuance of Stock
-881 -511 -4,664 -1,039 -1,544 -759 -1,030 -1,140 -1,440 -1,247 -2,553 -1,920 -2,830 -3,544 -2,171 -2,877 -1,357 Repurchase of Stock
-19.50 88.00 5,409 -1,835 831 317 2,536 18.00 601 -26.00 1,431 18,673 -5,125 2,183 -7,598 -867 -166 Net Issuance of Debt
-352 -405 -465 -504 -565 -843 -907 -969 -1,021 -1,055 -1,116 -1,337 -2,139 -2,376 -2,494 -2,693 -2,841 Cash Flow for Dividends
-- -- 1.00 36.00 40.00 24.00 -- -- -118 -40.00 13.00 -116 60.00 26.00 -94.00 14.00 -70.00 Other Financing
-1,010 -489 1,316 -3,011 -835 -845 764 -2,006 -1,882 -2,101 -918 15,949 -9,543 -3,283 -11,954 -5,431 -3,748 Cash Flow from Financing
124 638 761 -1,738 -196 211 129 63.00 -145 -253 484 3,440 -1,967 2,091 -1,298 724 6.00 Net Change in Cash
-425 -452 -1,244 -694 -606 -663 -635 -501 -484 -457 -396 -571 -1,046 -1,254 -1,068 -1,134 -1,212 Capital Expenditure
2,421 2,367 963 2,285 2,883 3,215 3,496 3,240 3,986 4,485 4,563 4,331 4,172 5,626 3,616 5,873 6,659 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDT 5/7
Valuation Ratios
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
31.50 35.61 23.98 21.96 24.96 17.39 15.66 14.60 11.20 13.81 19.54 27.79 31.92 28.75 35.46 25.97 26.05 PE Ratio(TTM)
25.37 36.24 49.57 28.60 24.85 16.28 13.54 17.99 10.04 11.49 17.00 31.26 28.22 19.27 28.18 24.02 26.25 Price to Owner Earnings (TTM)
6.76 6.10 6.17 5.51 4.75 2.70 3.28 2.80 2.32 2.54 3.02 1.99 2.13 2.27 2.14 2.38 2.68 Price to Book
15.97 12.38 16.81 11.60 30.03 14.18 13.03 12.23 8.74 8.37 8.95 -- -- -- -- -- -- Price to Tangible Book
25.62 27.15 62.96 26.90 19.29 11.20 13.85 13.93 10.16 10.69 13.06 19.41 27.02 20.52 30.17 20.52 20.83 Price-to-Free-Cash-Flow Ratio
21.80 22.79 27.63 20.64 15.94 9.29 11.72 12.07 9.06 9.70 12.01 17.20 21.61 16.79 23.30 17.19 17.62 Price-to-Operating-Cash-Flow
Ratio
6.83 6.39 5.40 5.00 4.11 2.47 3.06 2.88 2.50 2.89 3.50 4.12 3.91 3.89 3.65 3.95 4.47 PS Ratio
1.86 2.18 1.52 1.75 3.04 7.22 34.80 2.95 1.37 1.11 1.84 16.35 14.38 8.41 7.85 3.43 3.17 PEG Ratio
6.80 6.25 5.29 5.17 4.45 2.79 3.39 3.32 2.53 2.83 3.32 6.05 4.48 4.50 4.11 4.41 4.88 EV-to-Revenue
17.39 16.08 14.06 14.70 15.91 11.59 10.44 10.54 7.68 8.60 11.44 22.46 15.13 15.52 14.36 14.48 16.05 EV-to-EBITDA
19.87 18.25 16.12 16.99 19.14 14.48 12.29 12.59 9.10 10.12 13.82 29.52 22.58 23.46 20.75 20.28 22.34 EV-to-EBIT
5.03 5.48 6.20 5.89 5.22 6.91 8.14 7.94 10.99 9.88 7.24 3.39 4.43 4.26 4.82 4.93 4.48 Return on Capital %
19.47 19.15 18.60 15.55 11.99 8.82 5.61 11.38 16.59 19.65 16.97 6.92 7.05 8.14 9.06 11.66 10.63 Forward Rate of Return
60.76 54.06 43.34 38.55 31.47 19.06 23.32 19.68 15.91 17.98 21.25 26.34 27.52 28.32 26.82 27.98 31.25 Shiller PE Ratio
0.58 0.64 0.77 0.83 1.03 2.35 1.88 2.16 2.54 2.23 1.90 1.64 1.92 2.07 2.30 2.25 2.07 Dividend Yield %
Valuation and Quality
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
61,332 63,777 57,901 60,521 54,762 35,595 47,943 44,679 39,621 47,427 58,761 105,842 110,732 113,785 108,514 119,068 137,591 Market Cap
61,764 62,838 59,723 63,530 60,105 40,694 53,687 52,086 40,904 46,948 56,448 122,548 129,200 133,640 123,146 134,665 151,684 Enterprise Value
50.71 52.70 50.12 52.93 48.68 32.00 43.69 41.75 38.20 46.68 58.82 74.45 79.15 83.09 80.13 88.81 103 Month End Stock Price
-2.57 -2.29 -3.62 -4.77 -8.04 -7.85 -8.83 -11.24 -6.13 -5.02 -4.26 -23.90 -24.98 -26.25 -21.74 -22.19 -21.74 Net Cash (per share)
0.23 1.04 0.08 -0.54 -2.97 -2.66 -3.30 -4.99 0.61 1.60 2.71 -15.90 -17.14 -18.09 -13.07 -13.15 -12.56 Net Current Asset Value (per
share)
-0.97 -0.47 -1.53 -2.45 -5.28 -5.10 -5.87 -7.77 -2.51 -1.42 -0.54 -19.98 -20.76 -21.96 -17.11 -17.31 -16.75 Net-Net Working Capital (per
share)
21.43 26.76 26.96 30.96 34.63 34.66 39.14 42.00 49.86 57.42 57.83 57.03 60.40 65.10 66.13 68.92 70.45 Projected FCF (per share)
63.17 70.19 79.25 89.81 91.59 88.86 93.06 79.28 75.59 70.01 57.37 61.71 69.12 73.02 74.74 81.31 86.08 Median PS (per share)
27.26 24.21 32.98 30.25 16.01 13.65 20.79 17.55 27.97 42.18 31.91 -- -- -- 13.65 25.92 26.95 Peter Lynch Fair Value (per
share)
10.69 11.90 11.84 15.73 8.43 9.66 14.51 14.72 17.79 20.57 21.13 -- -- -- -- -- -- Graham Number (per share)
14.30 18.24 18.54 22.11 23.12 52.51 57.89 62.86 74.94 83.54 53.59 23.63 25.96 28.71 30.35 32.62 37.13 Earnings Power Value (EPV)
9.58 8.46 5.50 6.59 5.06 4.07 4.15 3.73 3.59 3.91 3.94 2.46 2.38 2.32 2.72 2.99 3.22 Altman Z-Score
7.00 6.00 5.00 6.00 7.00 7.00 6.00 6.00 8.00 5.00 5.00 4.00 5.00 8.00 8.00 8.00 7.00 Piotroski F-Score
-2.53 -2.44 -2.44 -2.14 -2.33 -2.72 -2.54 -2.32 -2.66 -2.64 -2.63 -1.87 -2.35 -2.64 -2.51 -2.57 -2.54 Beneish M-Score
0.77 0.67 0.67 0.71 0.87 0.82 0.86 0.83 0.61 0.55 0.49 1.84 0.66 0.70 0.65 0.72 0.72 Scaled Net Operating Assets
5.42 3.54 16.31 7.81 6.90 3.95 13.27 3.58 5.51 4.66 4.48 13.90 -3.94 -1.28 -8.14 -1.79 1.66 Sloan Ratio (%)
1.25 2.20 2.36 3.09 2.07 2.37 1.92 1.93 2.76 4.52 3.82 3.36 3.29 1.74 2.28 2.59 2.75 Current Ratio
1.05 1.91 2.09 2.62 1.71 1.91 1.63 1.57 2.45 4.09 3.51 2.98 2.81 1.51 1.92 2.15 2.28 Quick Ratio
52.65 54.92 59.54 54.58 57.86 56.55 46.03 44.13 43.20 47.72 62.31 79.25 79.78 88.92 89.30 99.49 122 Highest Stock Price
43.36 46.40 49.05 42.47 45.25 24.38 31.76 31.21 30.41 35.89 46.65 58.77 64.52 70.61 76.55 79.58 82.77 Lowest Stock Price
0.71 -0.06 4.54 1.02 1.62 1.12 1.35 2.48 3.08 2.04 1.67 -42.31 1.59 2.12 1.11 1.00 -0.81 Shares Buyback Ratio (%)
18.81 11.22 12.45 14.12 11.78 9.54 9.99 0.56 6.50 5.74 3.91 8.90 10.68 5.60 2.52 2.82 2.40 YoY Rev. per Sh. Growth (%)
23.08 -7.50 41.22 15.31 -19.09 -5.64 51.63 2.51 19.23 -1.17 -10.39 -20.20 2.90 16.53 -21.45 50.22 8.84 YoY EPS Growth (%)
18.65 8.35 8.92 6.56 -11.10 -5.78 48.78 -1.92 10.53 5.69 -8.36 1.11 21.72 3.32 11.76 -0.97 2.01 YoY EBITDA Growth (%)
16.93 16.36 15.78 12.55 8.21 2.41 0.45 5.00 8.66 12.48 10.60 1.70 2.22 3.42 4.52 7.58 8.20 EBITDA 5-Y Growth (%)
1,214 1,211 1,205 1,150 1,131 1,122 1,106 1,077 1,054 1,019 1,002 1,096 1,410 1,379 1,357 1,346 1,341 Shares Outstanding (Basic
Average)
1,209 1,210 1,155 1,143 1,125 1,112 1,097 1,070 1,037 1,016 999 1,422 1,399 1,369 1,354 1,341 1,340 Shares Outstanding (EOP)
0.58 0.33 -0.23 -0.05 0.25 0.76 0.81 0.97 1.02 1.04 0.90 1.30 1.04 0.87 0.73 0.66 0.53 Beta
06/23/09 06/23/09 06/29/10 06/28/11 06/26/12 06/24/13 06/20/14 06/23/15 06/28/16 06/27/17 06/22/18 06/21/19 Filing Date
06/23/09 06/29/10 06/28/11 06/24/13 06/20/14 06/23/15 06/28/16 06/27/17 06/22/18 06/21/19 06/21/19 06/21/19 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDT 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDT 7/7
SCANA Corp (NYSE:SCG) 03/02/2020 3:15AM EST GuruFocus
Price: $ 47.78 (0.00%) Market Cap: $ 6.81 B Enterprise Value: $6.81 B Stock PDF
Financial Strength Profitability & Growth Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Scana is a holding company engaged primarily in generating, transmitting, and distributing electricity in South
Carolina. It also distributes and sells natural gas in portions of North Carolina and South Carolina. Its two utilities serve
Good Signs 2016 1,172 905 1,093 1,056 4,226 more than 1 million customers. Through a wholly owned subsidiary, Scana markets natural gas to approximately
2017 1,173 1,001 1,076 1,158 4,408 450,000 retail customers in Georgia.... (Read More)
2018 1,180 843 926 Competitors: BOG:ISA, BSP:NEOE3 , MIL:EDNR, PHS:AEV, XSGO:ENELCHILE, BKK:GPSC, SHSE:600236 ,
DCF 2019
NYSE:IDA, NYSE:OGE, MIC:IRAO, XBRU:ELI, PHS:AP, HKSE:02638, BSP:EQTL3, NYSE:POR, BSP:EGIE3,
NYSE:HE, BSP:CPFE3, WAR:PGE, BOM:539254
GuruFocus does not 2020
calculate intrinsic value: DCF Insider Trades
Quarterly Earnings per Share
(Earnings Based) for
companies with one star Mar Jun Sep Dec Full Year
predictability or not rated. But 2016 1.23 0.74 1.32 0.87 4.16
you can go to each stock's 2017 1.19 0.85 0.48 -5.39 -2.87
DCF page to calculate 2018 1.18 0.06 0.94
yourself. 2019
2020
Reverse DCF Quarterly Dividends Per Share
GuruFocus does not Mar Jun Sep Dec Full Year
calculate reverse DCF growth 2016 0.58 0.58 0.58 0.58 2.30
rate for companies with one 2017 0.61 0.61 0.61 0.61 2.45
star predictability or not rated. 2018 0.61 0.12 0.12
But you can go to each 2019
stock's DCF page to calculate 2020
yourself. Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 0.00 0.00 0.00
EBITDA Growth (%) 0.00 0.00 0.00
Free Cash Flow Growth (%) 0.00 0.00 0.00
Book Value Growth (%) 0.00 0.00 0.00
EPS Growth (%) 0.00 0.00 0.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCG 1/7
Per Share Data
Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 TTM Fiscal Period
27.87 30.83 34.81 41.98 39.40 39.60 45.46 34.67 36.43 33.86 31.33 32.32 34.89 30.63 29.56 30.82 28.72 Revenue per Share
4.49 6.97 7.78 7.91 8.35 8.42 9.44 9.02 9.33 9.47 9.82 10.36 10.90 13.08 11.57 4.07 3.42 EBITDA per Share
2.10 4.53 5.13 3.20 5.21 5.42 6.50 6.18 6.34 6.44 6.73 7.12 7.74 10.19 8.45 0.92 0.03 EBIT per Share
-1.34 2.54 2.30 2.81 2.68 2.74 2.95 2.85 2.98 2.97 3.15 3.39 3.79 5.22 4.16 -0.83 -3.21 Earnings per Share (diluted)
-1.34 2.54 2.30 2.81 2.63 2.74 2.95 2.85 2.98 2.97 3.15 3.39 3.79 5.22 4.16 -0.83 -3.21 eps without NRI
-1.80 2.98 1.43 -0.81 2.51 2.22 0.51 1.33 1.65 1.06 0.65 2.02 0.09 4.28 0.83 -6.57 -- Owner Earnings per Share (TTM)
-1.74 -1.16 0.70 0.72 1.95 0.04 -3.85 -1.92 -0.52 -0.56 -1.79 -0.40 -2.55 -0.66 -3.41 -0.39 1.59 Free Cashflow per Share
1.30 1.38 1.46 1.56 1.68 1.76 1.84 1.88 1.90 1.94 1.98 2.03 2.10 2.18 2.30 2.45 1.47 Dividends per Share
19.64 20.82 21.71 23.27 24.33 25.30 26.06 27.71 29.15 29.92 31.47 33.04 34.95 38.09 40.06 36.75 37.70 Book Value per Share
19.64 20.82 21.71 23.27 24.33 25.30 26.06 25.84 27.34 28.15 29.73 31.42 33.48 36.62 38.59 35.28 36.23 Tangible Book per Share
31.63 32.71 31.89 30.97 30.74 31.96 37.84 39.40 38.65 40.82 43.52 41.27 46.12 45.69 52.00 48.83 49.42 Total Debt per Share
30.96 34.25 39.40 39.38 40.62 42.15 35.60 37.68 40.60 45.06 45.64 46.93 60.40 60.49 73.28 39.78 47.78 Month End Stock Price
Ratios
Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 TTM Fiscal Period
-6.10 11.58 10.03 11.69 10.74 10.80 11.11 10.60 10.58 10.20 10.44 10.68 11.15 14.30 10.66 -2.17 -3.71 Return on Equity %
-1.65 3.41 2.94 3.45 3.21 3.20 3.26 3.03 3.00 2.92 2.98 3.16 3.36 4.39 3.32 -0.64 -1.06 Return on Assets %
3.73 7.92 8.34 5.05 8.15 8.21 9.24 8.74 8.44 8.05 8.14 8.47 8.86 11.21 8.75 1.05 0.04 Return on Capital %
2.94 5.98 6.46 9.35 6.91 6.81 6.48 6.11 6.48 6.40 6.31 6.12 6.33 6.06 6.40 4.97 3.39 Return on Invested Capital %
2.45 3.36 4.01 4.08 4.00 3.12 3.12 5.59 5.53 4.38 3.86 4.06 4.33 3.93 3.51 2.60 -- Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- 5.45 4.94 5.45 5.56 5.34 5.13 5.03 4.85 4.90 5.04 5.35 Effective Interest Rate on Debt %
46.82 43.50 41.54 36.07 37.41 38.20 35.19 43.24 28.10 30.85 34.05 33.55 32.72 38.04 42.06 41.75 34.99 Gross Margin %
7.55 14.70 14.72 7.62 13.21 13.70 13.35 16.50 16.69 18.44 20.57 20.24 20.34 24.52 27.28 27.09 18.92 Operating Margin %
-4.43 8.26 6.62 6.70 6.79 6.92 6.64 8.43 8.17 8.78 10.06 10.48 10.87 17.03 14.08 -2.70 -4.89 Net Margin %
-6.23 -3.75 2.01 1.72 4.95 0.11 -8.46 -5.55 -1.41 -1.66 -5.70 -1.25 -7.31 -2.15 -11.52 -1.27 5.53 FCF Margin %
1.53 1.50 1.40 1.28 1.26 1.22 1.45 1.42 1.33 1.36 1.38 1.25 1.32 1.20 1.30 1.33 1.31 Debt to Equity
0.28 0.29 0.29 0.29 0.29 0.30 0.28 0.28 0.29 0.29 0.28 0.31 0.30 0.32 0.31 0.28 0.29 Total Equity to Total Asset
0.43 0.43 0.40 0.37 0.37 0.37 0.40 0.40 0.38 0.39 0.39 0.38 0.39 0.38 0.40 0.37 0.38 Total Debt to Total Asset
17.40 17.98 18.48 18.60 17.66 17.67 17.28 15.53 10.32 10.26 10.10 10.13 10.13 9.81 9.92 9.83 7.56 Gross Profit to Total Asset %
0.37 0.41 0.45 0.52 0.47 0.46 0.49 0.36 0.37 0.33 0.30 0.30 0.31 0.26 0.24 0.24 0.22 Asset Turnover
-- 0.54 0.64 0.56 0.64 0.64 0.62 0.66 0.64 0.65 0.63 0.60 0.55 0.42 0.55 -- -- Dividend Payout Ratio
60.42 55.13 68.68 69.15 54.95 52.92 -- -- 67.11 62.59 68.18 65.12 50.43 42.08 53.19 55.08 42.13 Days Sales Outstanding
84.11 56.74 64.13 59.40 56.36 54.70 42.89 64.96 58.04 44.77 56.72 51.93 56.98 79.35 60.21 62.28 35.95 Days Accounts Payable
53.44 42.55 38.81 41.05 53.17 53.74 48.02 74.52 52.30 53.33 58.65 49.12 39.67 45.26 44.94 42.30 39.67 Days Inventory
29.75 40.94 43.36 50.80 51.76 51.96 5.13 9.56 61.37 71.15 70.11 62.31 33.12 7.99 37.92 35.10 45.85 Cash Conversion Cycle
6.83 8.58 9.40 8.89 6.87 6.79 7.60 4.90 6.98 6.84 6.22 7.43 9.20 8.07 8.12 8.63 9.20 Inventory Turnover
0.53 0.56 0.58 0.64 0.63 0.62 0.65 0.57 0.72 0.69 0.66 0.66 0.67 0.62 0.58 0.58 0.65 COGS to Revenue
0.08 0.07 0.06 0.07 0.09 0.09 0.09 0.12 0.10 0.10 0.11 0.09 0.07 0.08 0.07 0.07 0.07 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCG 2/7
Income Statement
Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 TTM Fiscal Period
2,954 3,416 3,885 4,777 4,563 4,621 5,319 4,237 4,601 4,409 4,176 4,495 4,951 4,380 4,227 4,407 4,107 Revenue
1,571 1,930 2,271 3,054 2,856 2,856 3,447 2,405 3,308 3,049 2,754 2,987 3,331 2,714 2,449 2,567 2,670 Cost of Goods Sold
1,383 1,486 1,614 1,723 1,707 1,765 1,872 1,832 1,293 1,360 1,422 1,508 1,620 1,666 1,778 1,840 1,437 Gross Profit
46.82 43.50 41.54 36.07 37.41 38.20 35.19 43.24 28.10 30.85 34.05 33.55 32.72 38.04 42.06 41.75 34.99 Gross Margin %
1,160 984 1,042 1,359 1,104 1,132 1,162 1,133 525 547 563 598 613 592 625 646 660 Other Operating Expense
223 502 572 364 603 633 710 699 768 813 859 910 1,007 1,074 1,153 1,194 777 Operating Income
7.55 14.70 14.72 7.62 13.21 13.70 13.35 16.50 16.69 18.44 20.57 20.24 20.34 24.52 27.28 27.09 18.92 Operating Margin %
-- -- -- -- -- -- -227 -233 -266 -284 -295 -297 -312 -318 -342 -363 -384 Interest Expense
-- -- -- -- -- -- -227 -233 -266 -284 -295 -297 -312 -318 -342 -363 -384 Net Interest Income
-88.00 -85.00 -192 -162 -180 -173 51.00 56.00 33.00 26.00 38.00 81.00 91.00 383 55.00 -1,062 -773 Other Income (Expense)
-- -9.00 -7.00 -7.00 -7.00 -- -- -- -- -- -- -- -- -- -- -- -- Other Income (Minority Interest)
135 417 380 202 423 460 534 522 535 555 602 694 786 1,139 866 -231 -380 Pre-Tax Income
-36.00 -135 -123 118 -119 -140 -189 -167 -159 -168 -182 -223 -248 -393 -271 112 179 Tax Provision
26.67 32.37 32.37 -58.42 28.13 30.43 35.39 31.99 29.72 30.27 30.23 32.13 31.55 34.50 31.29 48.48 47.11 Tax Rate %
99.00 282 257 320 304 320 345 357 376 387 420 471 538 746 595 -119 -201 Net Income (Continuing Operations)
-131 282 257 320 310 320 353 357 376 387 420 471 538 746 595 -119 -201 Net Income
-4.43 8.26 6.62 6.70 6.79 6.92 6.64 8.43 8.17 8.78 10.06 10.48 10.87 17.03 14.08 -2.70 -4.89 Net Margin %
11.00 9.00 7.00 7.00 7.00 -- 7.00 9.00 -- -- -- -- -- -- -- -- -- Preferred dividends
-1.34 2.54 2.30 2.81 2.68 2.74 2.95 2.85 2.99 3.01 3.20 3.40 3.79 5.22 4.16 -0.83 -3.21 EPS (Basic)
-1.34 2.54 2.30 2.81 2.68 2.74 2.95 2.85 2.98 2.97 3.15 3.39 3.79 5.22 4.16 -0.83 -3.21 EPS (Diluted)
106 111 112 114 116 117 117 122 126 130 133 139 142 143 143 143 143 Shares Outstanding (Diluted
Average)
253 270 296 536 364 349 344 347 377 394 412 450 448 414 446 450 485 Depreciation, Depletion and
Amortization
476 772 868 900 967 982 1,105 1,102 1,178 1,233 1,309 1,441 1,546 1,871 1,654 582 489 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCG 3/7
Balance Sheet
Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 TTM Fiscal Period
374 117 119 62.00 201 134 272 162 55.00 29.00 72.00 136 137 176 208 409 462 Cash And Cash Equivalents
374 117 119 62.00 201 134 272 162 55.00 29.00 72.00 136 137 176 208 409 462 Cash, Cash Equivalents, Marketable
Securities
489 516 731 905 687 670 -- -- 846 756 780 802 684 505 616 665 474 Accounts Receivable
237 213 270 417 415 426 481 501 447 444 441 363 361 312 291 304 289 Inventories, Other
237 213 270 417 415 426 481 501 447 444 441 363 361 312 291 304 289 Total Inventories
40.00 47.00 62.00 80.00 73.00 71.00 255 164 292 262 234 120 809 158 122 170 120 Other Current Assets
1,140 893 1,182 1,464 1,376 1,301 1,836 1,521 1,631 1,491 1,527 1,421 2,145 1,378 1,506 1,851 1,420 Total Current Assets
-- -- -- -- -- -- 122 431 154 171 181 187 188 186 199 204 274 Investments And Advances
677 987 432 175 326 400 711 1,149 1,081 1,482 2,084 2,724 3,323 4,051 4,845 537 Construction In Progress
471
8,045 8,832 9,077 9,540 9,954 10,734 11,739 12,081 13,344 13,958 14,783 15,891 16,516 17,646 18,974 15,452 16,000 Gross Property, Plant and Equipment
-2,151 -2,319 -2,315 -2,698 -2,815 -3,065 -3,240 -3,302 -3,613 -3,836 -3,811 -4,161 -4,210 -4,431 -4,584 -4,744 -5,059 Accumulated Depreciation
5,894 6,513 6,762 6,842 7,139 7,669 8,499 8,779 9,731 10,122 10,972 11,730 12,306 13,215 14,390 10,708 10,941 Property, Plant and Equipment
-- -- -- -- -- -- -- 230 230 230 230 230 210 210 210 210 210 Intangible Assets
-- -- -- -- -- -- -- 230 230 230 230 230 210 210 210 210 210 Goodwill
1,040 1,052 1,062 1,213 1,302 1,195 1,045 1,133 1,222 1,520 1,706 1,596 1,969 2,157 2,402 5,766 5,971 Other Long Term Assets
8,074 8,458 9,006 9,519 9,817 10,165 11,502 12,094 12,968 13,534 14,616 15,164 16,818 17,146 18,707 18,739 18,816 Total Assets
362 300 399 497 441 428 405 428 526 374 428 425 520 590 404 438 263 Accounts Payable
-- -- -- -- -- -- 128 134 146 154 164 206 182 242 201 214 179 Total Tax Payable
654 626 769 885 875 861 658 692 805 665 740 782 858 991 769 825 550 Accounts Payable & Accrued
Expense
622 397 415 615 530 860 224 363 757 684 795 430 1,084 647 958 1,077 332 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- 100.00 103 86.00 88.00 98.00 137 168 112 146 Current Deferred Revenue
-- -- -- -- -- -- -- -- 100.00 103 86.00 88.00 98.00 137 168 112 146 DeferredTaxAndRevenue
-- -- -- -- -- -- 273 201 205 190 190 142 428 177 170 99.00 136 Other Current Liabilities
1,276 1,023 1,184 1,500 1,405 1,721 1,155 1,256 1,867 1,642 1,811 1,442 2,468 1,952 2,065 2,113 1,164 Total Current Liabilities
2,884 3,225 3,186 2,948 3,067 2,879 4,361 4,483 4,152 4,622 4,949 5,395 5,497 5,882 6,473 5,906 6,735 Long-Term Debt
2,884 3,225 3,186 2,948 3,067 2,879 4,361 4,483 4,152 4,622 4,949 5,395 5,497 5,882 6,473 5,906 6,735 Long-Term Debt & Capital Lease
Obligation
1.53 1.50 1.40 1.28 1.26 1.22 1.45 1.42 1.33 1.36 1.38 1.25 1.32 1.20 1.30 1.33 1.31 Debt to Equity
-- -- -- -- -- -- 261 229 202 291 387 227 315 315 373 360 347 PensionAndRetirementBenefit
118 117 121 121 120 104 1,112 1,233 1,447 1,573 1,689 1,735 1,931 1,907 2,159 1,261 1,355 NonCurrent Deferred Liabilities
1,504 1,672 1,949 2,159 2,371 2,388 1,455 1,485 1,598 1,517 1,626 1,701 1,620 1,647 1,912 3,844 3,824 Other Long-Term Liabilities
5,782 6,037 6,440 6,728 6,963 7,092 8,344 8,686 9,266 9,645 10,462 10,500 11,831 11,703 12,982 13,484 13,425 Total Liabilities
-- -- -- -- -- -- -- 1,640 -- -- -- -- -- -- -- -- -- Common Stock
115 115 115 114 8.00 113 -- -- -- -- -- -- -- -- -- -- -- Preferred Stock
-- -- -- -- 1,464 1,575 1,705 1,823 1,960 -- -- 2,444 2,684 3,118 3,384 2,915 3,036 Retained Earnings
2,177 2,306 2,451 2,677 -29.00 -22.00 -109 -55.00 -47.00 -- -- -60.00 -75.00 -65.00 -49.00 -50.00 -34.00 Accumulated other comprehensive
income (loss)
-- -- -- -- 1,411 1,407 1,449 -- 1,789 -- -- 2,280 2,378 2,390 2,390 2,390 2,389 Additional Paid-In Capital
2,292 2,421 2,566 2,791 2,854 3,073 3,158 3,408 3,702 3,889 4,154 4,664 4,987 5,443 5,725 5,255 5,391 Total Equity
0.28 0.29 0.29 0.29 0.29 0.30 0.28 0.28 0.29 0.29 0.28 0.31 0.30 0.32 0.31 0.28 0.29 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCG 4/7
Cashflow Statement
Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 TTM Fiscal Period
-142 282 257 320 310 320 353 357 376 387 420 471 538 746 595 -119 -201 Net Income
-142 282 257 320 310 320 353 357 376 387 420 471 538 746 595 -119 -201 Net Income From Continuing
Operations
253 270 296 536 364 349 344 347 377 394 412 450 448 414 446 450 485 Depreciation, Depletion and
Amortization
-64.00 -27.00 -225 -174 218 17.00 -21.00 134 -143 34.00 5.00 -38.00 -33.00 188 -254 -112 78.00 Change In Receivables
-1.00 24.00 -90.00 -188 -80.00 -41.00 -114 -76.00 11.00 -44.00 -53.00 21.00 -62.00 -16.00 -43.00 -93.00 -75.00 Change In Inventory
-- -- -- -- -- -- -103 64.00 -109 58.00 26.00 49.00 -235 211 11.00 -5.00 -4.00 Change In Prepaid Assets
88.00 7.00 91.00 79.00 -77.00 -38.00 -24.00 -38.00 92.00 -89.00 44.00 66.00 12.00 -17.00 3.00 37.00 -354 Change In Payables And Accrued
Expense
92.00 54.00 -87.00 -470 82.00 42.00 -222 -86.00 -162 -122 -102 103 -449 324 -145 688 360 Change In Working Capital
-185 38.00 74.00 25.00 5.00 22.00 76.00 93.00 240 164 130 49.00 235 -31.00 242 -911 -427 Change In DeferredTax
473 -34.00 39.00 56.00 -8.00 -3.00 -97.00 -32.00 -20.00 -12.00 -21.00 -23.00 -42.00 -394 -46.00 -57.00 879 Cash Flow from Others
491 610 579 467 753 730 454 679 811 811 839 1,050 730 1,059 1,092 1,169 1,100 Cash Flow from Operations
-675 -738 -501 -385 -527 -725 -904 -914 -876 -884 -1,077 -1,106 -1,092 -1,153 -1,579 -1,225 -873 Purchase Of Property, Plant,
Equipment
-- -- -- -- 21.00 10.00 19.00 -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -- -- -- -- -- 647 -- -- -- Sale Of Business
-- -- -20.00 -18.00 -25.00 -- -2.00 -6.00 -102 -229 -465 -225 -570 -1,281 -901 -182 -211 Purchase Of Investment
568 74.00 68.00 10.00 -- -- -- 31.00 104 36.00 486 385 347 1,127 860 145 231 Sale Of Investment
-81.00 -29.00 -- -- -- -10.00 -- -- -- -- -- -- -- -- -- 1,096 1,096 Cash From Other Investing Activities
-188 -693 -453 -393 -531 -725 -887 -889 -874 -1,077 -1,056 -946 -1,315 -660 -1,620 -166 -770 Cash Flow from Investing
149 6.00 65.00 84.00 79.00 6.00 42.00 191 149 97.00 97.00 295 98.00 14.00 -- -- -- Issuance of Stock
-141 -61.00 -4.00 -1.00 -- -14.00 -- -113 -- -- -- -- -- -- -- -- -- Repurchase of Stock
-158 133 -17.00 -33.00 36.00 146 748 256 44.00 391 420 -54.00 782 -62.00 885 -458 -602 Net Issuance of Debt
-- -158 -168 -181 -198 -210 -219 -234 -237 -248 -257 -281 -294 -309 -325 -344 -277 Cash Flow for Dividends
29.00 -25.00 -- -- -- -- -- -- -- -- -- -- -- -3.00 -- -- -- Other Financing
-121 -105 -124 -131 -83.00 -72.00 571 100.00 -44.00 240 260 -40.00 586 -360 560 -802 -879 Cash Flow from Financing
182 -188 2.00 -57.00 139 -67.00 138 -110 -107 -26.00 43.00 64.00 1.00 39.00 32.00 201 -549 Net Change in Cash
-675 -738 -501 -385 -527 -725 -904 -914 -876 -884 -1,077 -1,106 -1,092 -1,153 -1,579 -1,225 -873 Capital Expenditure
-184 -128 78.00 82.00 226 5.00 -450 -235 -65.00 -73.00 -238 -56.00 -362 -94.00 -487 -56.00 227 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCG 5/7
Valuation Ratios
Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 TTM Fiscal Period
-- 13.48 17.13 14.01 15.16 15.38 12.07 13.22 13.62 15.12 14.54 13.88 15.94 11.59 17.62 -- -- PE Ratio(TTM)
-- 11.51 27.59 -- 16.21 18.99 69.67 28.29 24.62 42.63 70.65 23.23 679 14.12 88.72 -- -- Price to Owner Earnings
(TTM)
1.58 1.64 1.81 1.69 1.67 1.67 1.37 1.36 1.39 1.51 1.45 1.42 1.73 1.59 1.83 1.08 -- Price to Book
1.58 1.64 1.81 1.69 1.67 1.67 1.37 1.46 1.49 1.60 1.54 1.49 1.80 1.65 1.90 1.13 -- Price to Tangible Book
-- -- 55.41 53.36 20.68 1,004 -- -- -- -- -- -- -- -- -- -- -- Price-to-Free-Cash-Flow
Ratio
6.71 6.22 7.59 9.56 6.24 6.74 9.16 6.76 6.33 7.22 7.25 6.23 11.75 8.17 9.59 4.87 -- Price-to-Operating-Cash-
Flow Ratio
1.11 1.11 1.13 0.94 1.03 1.06 0.78 1.09 1.11 1.33 1.46 1.45 1.73 1.97 2.48 1.29 -- PS Ratio
-- -- -- 4.18 0.87 3.60 2.70 2.82 3.42 5.54 7.69 7.42 3.84 1.51 3.46 -- -- PEG Ratio
2.20 2.17 2.05 1.70 1.78 1.87 1.59 2.20 2.17 2.52 2.79 2.73 3.03 3.42 4.19 2.78 -- EV-to-Revenue
8.88 9.60 9.21 8.92 8.39 8.79 7.66 8.39 8.48 8.99 8.90 8.52 9.72 8.02 10.71 21.06 -- EV-to-EBITDA
13.58 14.77 13.98 22.33 13.46 13.64 11.14 12.22 12.46 13.20 12.99 12.40 13.68 10.29 14.67 92.87 -- EV-to-EBIT
7.36 6.77 7.15 4.48 7.43 7.33 8.98 8.18 8.03 7.58 7.70 8.06 7.31 9.72 6.82 1.08 -- Return on Capital %
-20.47 -3.03 -1.43 2.17 18.10 4.91 4.13 2.77 1.30 -0.30 -1.85 -0.80 2.00 5.56 2.73 -7.10 -- Forward Rate of Return
14.72 15.80 17.08 15.98 16.07 15.97 13.42 13.55 14.38 17.71 14.85 14.92 18.50 17.41 20.14 12.84 -- Shiller PE Ratio
4.20 4.03 3.71 3.96 4.14 4.18 5.17 4.99 4.68 4.31 4.34 4.33 3.47 3.60 3.14 6.16 2.06 Dividend Yield %
Valuation and Quality
Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 TTM Fiscal Period
3,431 3,793 4,449 4,530 4,753 4,932 4,314 4,635 5,156 5,858 6,024 6,624 8,619 8,644 10,472 5,689 6,814 Market Cap
6,678 7,413 8,046 8,145 8,157 8,650 8,627 9,319 10,010 11,135 11,696 12,313 15,063 14,997 17,695 12,263 6,814 Enterprise Value
30.96 34.25 39.40 39.38 40.62 42.15 35.60 37.68 40.60 45.06 45.64 46.93 60.40 60.49 73.28 39.78 47.78 Month End Stock Price
-48.80 -53.46 -55.98 -57.95 -57.79 -59.47 -66.61 -69.30 -72.53 -73.97 -78.71 -73.43 -81.95 -80.66 -89.39 -91.43 -90.65 Net Cash (per share)
-42.92 -47.49 -47.59 -46.75 -47.82 -50.46 -53.70 -58.25 -60.12 -62.72 -67.69 -64.32 -67.88 -72.25 -80.31 -81.35 -83.95 Net Current Asset Value
(per share)
-45.45 -50.04 -50.95 -51.23 -51.69 -54.32 -64.63 -67.26 -65.77 -67.90 -72.61 -67.88 -77.09 -76.92 -85.14 -86.88 -87.15 Net-Net Working Capital (per
share)
18.00 14.31 14.06 17.01 19.88 22.31 18.61 18.31 17.67 16.53 12.30 13.91 16.50 20.55 17.49 15.05 18.20 Projected FCF (per share)
-11.92 16.65 -- -- 46.63 29.46 -- -- -- -- -- -- -- 39.99 21.17 -- -- Peter Lynch Fair Value (per
share)
-- 34.50 33.52 38.36 37.94 39.49 41.59 40.70 42.81 43.37 45.90 48.95 53.43 65.58 60.10 -- -- Graham Number (per share)
-15.25 -27.73 -30.55 -45.73 -37.67 -38.72 -43.98 -48.43 -45.73 -50.90 -57.53 -53.65 -52.59 -54.96 -71.39 -65.16 -- Earnings Power Value
(EPV)
0.74 0.92 0.98 0.94 1.22 1.19 1.19 1.11 1.08 0.88 0.81 1.11 1.15 1.19 1.14 0.71 -- Altman Z-Score
3.00 6.00 6.00 6.00 6.00 7.00 6.00 5.00 6.00 5.00 5.00 5.00 6.00 5.00 6.00 5.00 -- Piotroski F-Score
0.69 0.73 0.72 0.70 0.66 0.68 0.74 0.70 0.71 0.71 0.73 0.71 0.75 0.70 0.76 0.63 0.64 Scaled Net Operating
Assets
-5.38 4.32 1.45 2.58 0.90 3.10 6.83 4.69 3.39 4.82 4.36 2.42 6.68 2.02 6.00 -5.99 -2.82 Sloan Ratio (%)
0.89 0.87 1.00 0.98 0.98 0.76 1.59 1.21 0.87 0.91 0.84 0.99 0.87 0.71 0.73 0.88 1.22 Current Ratio
0.71 0.66 0.77 0.70 0.68 0.51 1.17 0.81 0.63 0.64 0.60 0.73 0.72 0.55 0.59 0.73 0.97 Quick Ratio
31.98 35.52 39.62 43.40 41.99 45.26 42.51 38.44 41.69 45.34 49.65 54.20 63.18 65.36 76.12 73.28 51.27 Highest Stock Price
24.25 28.21 33.09 37.10 37.16 36.70 30.03 26.37 34.55 35.12 43.71 44.86 45.67 50.00 60.08 37.39 33.61 Lowest Stock Price
-5.83 0.09 -1.96 -1.88 -1.71 -- -3.57 -1.50 -3.25 -2.36 -1.54 -6.93 -1.10 -0.14 -- -0.07 -- Shares Buyback Ratio (%)
-15.45 10.63 12.92 20.58 -6.13 0.49 14.81 -23.73 5.06 -7.04 -7.49 3.15 7.97 -12.22 -3.49 4.26 -4.62 YoY Rev. per Sh. Growth
(%)
-126 290 -9.45 22.17 -4.63 2.24 7.66 -3.39 4.56 -0.34 6.06 7.62 11.80 37.73 -20.31 -120 -195 YoY EPS Growth (%)
-34.51 55.15 11.62 1.68 5.59 0.77 12.23 -4.51 3.43 1.53 3.70 5.49 5.17 20.09 -11.60 -64.81 -66.44 YoY EBITDA Growth (%)
-20.18 -1.70 -0.60 3.35 17.73 4.27 4.47 4.68 3.98 2.73 1.89 1.87 4.15 7.66 5.09 -3.05 -- EBITDA 5-Y Growth (%)
106 111 112 114 116 117 117 122 126 129 131 139 142 143 143 143 143 Shares Outstanding (Basic
Average)
111 111 113 115 117 117 121 123 127 130 132 141 143 143 143 143 143 Shares Outstanding (EOP)
0.22 0.37 0.51 0.50 0.39 0.23 0.63 0.61 0.63 0.48 0.35 0.24 0.45 0.34 0.19 -0.14 -- Beta
03/21/03 02/27/04 02/28/05 03/02/06 03/01/07 02/29/08 02/27/09 03/01/10 03/01/11 02/29/12 02/28/13 02/28/14 02/27/15 02/26/16 02/24/17 02/23/18 Filing Date
02/27/04 02/28/05 03/02/06 03/01/07 02/29/08 02/27/09 03/01/10 03/01/11 02/28/13 02/28/14 02/27/15 02/26/16 02/24/17 02/23/18 02/23/18 02/23/18 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCG 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCG 7/7
Abbott Laboratories (NYSE:ABT) 03/02/2020 4:10PM EST GuruFocus
Price: $ 81.61 +4.58(+5.95%) Market Cap: $ 143.91 B Enterprise Value: $158.88 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 39.62
Cash to Debt 0.22 Operating margin (%) 14.21
Forward P/E N/A
Equity to Asset 0.46 Net-margin (%) 11.56
PE(NRI) 39.62
Interest Coverage 6.76 ROE (%) 11.81
F-Score:
P/B 4.64
ROA (%) 5.43
7 P/S 4.56
Z-Score: ROC (Joel Greenblatt) (%) 46.79
3.68 PFCF 32.35
Revenue Growth (3Y)(%) 8.40
M-Score: POCF 23.70
-2.60 EBITDA Growth (3Y)(%) 26.40
EV-to-EBIT 33.47
WACC vs 5.32% EPS Growth (3Y)(%) 42.60
ROIC 8.77% PEG 3.88
WACC
ROIC Shiller P/E 36.52
Current Ratio 1.44
Quick Ratio 1.04
Days Inventory 115.54
Days Sales Outstanding 62.07
Warning Signs Quarterly Revenues Company Description
Price: Close to 10-year high Mar Jun Sep Dec Full Year Abbott manufactures and markets medical devices, adult and pediatric nutritional products, diagnostic equipment and
testing kits, and branded generic drugs. Products include pacemakers, implantable cardioverter defibrillators,
2016 4,885 5,333 5,302 5,333 20,853 neuromodulation devices, coronary stents, catheters, infant formula, nutritional liquids for adults, and immunoassays
PB Ratio: Close to 10-year
2017 6,335 6,637 6,829 7,589 27,390 and point-of-care diagnostic equipment. Abbott derives approximately 60% of sales outside the United States....
high (Read More)
2018 7,390 7,767 7,656 7,765 30,578
Competitors: NYSE:MDT, NYSE:SYK, NYSE:BSX, NYSE:EW, SZSE:300760 , NYSE:ZBH, LSE:SN.,
PS Ratio: Close to 5-year high 2019 7,535 7,979 8,076 8,314 31,904 NAS:ALGN, NAS:PODD, NYSE:BIO, SZSE:300003, ASX:COH, NAS:BRKR, NAS:ABMD, OCSE:GN, NYSE:PEN,
2020 HKSE:01066, SZSE:300529, NYSE:GMED, NAS:TNDM
Insider Sell: Insider Selling
Quarterly Earnings per Share Insider Trades
Good Signs Mar Jun Sep Dec Full Year
2016 0.21 0.41 -0.22 0.53 0.93
Piotroski F-Score: High 2017 0.24 0.16 0.34 -0.48 0.26
PB Ratio: Close to 1-year low 2018 0.23 0.41 0.32 0.37 1.33
2019 0.38 0.56 0.53 0.59 2.06
2020
DCF
Quarterly Dividends Per Share
GuruFocus does not
calculate intrinsic value: DCF Mar Jun Sep Dec Full Year
(Earnings Based) for 2016 0.26 0.26 0.26 0.26 1.04
companies with one star 2017 0.27 0.27 0.27 0.27 1.06
predictability or not rated. But 2018 0.28 0.28 0.28 0.28 1.12
you can go to each stock's 2019 0.32 0.32 0.32 0.32 1.28
DCF page to calculate 2020
yourself. Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Reverse DCF
Revenue Growth (%) -0.70 6.90 3.70
GuruFocus does not
EBITDA Growth (%) -2.00 10.20 10.60
calculate reverse DCF growth
rate for companies with one Free Cash Flow Growth (%) -7.90 15.40 -8.90
star predictability or not rated. Book Value Growth (%) 1.30 5.40 1.10
But you can go to each EPS Growth (%) -5.80 2.80 57.30
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABT 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.53 14.28 14.63 16.61 18.88 19.78 22.60 13.66 11.97 12.49 13.26 13.55 14.06 15.66 17.28 17.91 17.91 Revenue per Share
3.48 3.67 3.65 4.12 5.26 6.30 5.71 2.96 1.81 2.48 2.76 3.20 2.16 3.52 3.94 4.36 4.36 EBITDA per Share
2.66 2.80 2.64 2.94 4.08 4.96 4.03 1.02 0.06 1.39 1.75 2.22 1.24 1.79 2.09 2.67 2.67 EBIT per Share
2.06 2.16 1.12 2.31 3.12 3.69 2.96 3.01 3.72 1.62 1.49 2.92 0.94 0.27 1.33 2.06 2.06 Earnings per Share (diluted)
2.02 2.16 1.12 2.31 3.03 3.69 2.96 0.72 0.15 1.26 1.12 1.72 0.71 0.20 1.31 2.06 2.06 eps without NRI
1.97 2.53 1.18 2.19 3.59 4.17 4.48 4.28 3.61 1.22 1.43 3.02 0.06 2.54 2.54 2.40 2.40 Owner Earnings per Share (TTM)
2.02 2.54 2.60 2.26 3.65 3.98 4.96 4.77 4.72 1.38 1.70 1.23 1.40 2.54 2.77 2.53 2.52 Free Cashflow per Share
1.03 1.09 1.16 1.27 1.41 1.56 1.72 1.88 2.01 0.56 0.88 0.96 1.04 1.06 1.12 1.28 1.28 Dividends per Share
9.18 9.37 9.14 11.47 11.31 14.73 14.66 15.56 16.95 16.26 14.27 14.40 13.94 17.72 17.39 17.58 17.58 Book Value per Share
2.22 2.89 -1.17 1.25 1.52 2.17 -3.49 -0.80 1.50 6.24 3.49 4.08 5.65 -8.37 -6.65 -5.16 -5.16 Tangible Book per Share
4.35 4.31 8.07 7.88 7.41 10.61 12.23 9.82 12.99 4.24 5.19 6.11 14.94 16.02 11.15 10.68 10.68 Total Debt per Share
22.32 18.87 23.31 26.87 25.54 25.83 22.92 26.90 31.34 38.33 45.02 44.91 38.41 57.07 72.33 86.86 81.61 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
23.62 23.47 12.06 22.66 27.69 28.49 20.32 20.07 23.31 9.93 9.78 20.70 6.71 1.85 7.71 11.97 11.81 Return on Equity %
11.81 11.65 5.26 9.50 11.88 12.12 8.19 7.82 9.35 4.68 5.43 10.73 2.98 0.74 3.30 5.46 5.43 Return on Assets %
41.70 46.27 41.85 40.40 65.21 75.77 46.22 12.55 0.81 18.18 27.06 40.06 22.94 34.23 38.43 48.73 46.79 Return on Capital %
17.47 17.21 14.17 14.14 18.34 18.69 15.02 4.36 -4.58 7.44 7.29 9.54 9.46 0.67 6.20 8.88 8.77 Return on Invested Capital %
5.98 5.44 2.53 2.60 3.78 4.77 4.25 3.27 3.67 5.83 7.19 9.25 12.44 13.46 8.73 6.12 5.32 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 4.47 3.72 3.13 2.09 1.78 1.07 2.08 1.94 2.78 3.62 3.48 3.48 3.50 Effective Interest Rate on Debt %
54.86 52.36 56.33 55.92 57.29 57.06 58.30 53.21 53.29 53.23 54.47 57.13 56.39 54.70 58.45 58.53 58.53 Gross Margin %
21.23 19.61 18.05 17.67 19.61 20.27 17.31 7.61 7.14 10.85 12.84 14.05 14.51 5.71 11.94 14.21 14.21 Operating Margin %
16.44 15.10 7.64 13.92 16.53 18.68 13.15 22.09 31.30 13.10 11.28 21.68 6.71 1.74 7.74 11.56 11.56 Net Margin %
16.14 17.76 17.76 13.61 19.33 20.11 21.96 34.94 39.47 11.09 12.83 9.10 9.98 16.19 16.04 14.10 14.10 FCF Margin %
0.47 0.46 0.88 0.69 0.66 0.72 0.83 0.63 0.77 0.26 0.36 0.42 1.07 0.90 0.64 0.61 0.61 Debt to Equity
0.50 0.50 0.39 0.45 0.41 0.44 0.37 0.41 0.40 0.59 0.52 0.51 0.39 0.41 0.45 0.46 0.46 Total Equity to Total Asset
0.24 0.23 0.34 0.31 0.27 0.31 0.31 0.26 0.31 0.15 0.19 0.22 0.42 0.37 0.29 0.28 0.28 Total Debt to Total Asset
39.40 40.40 38.77 38.19 41.19 37.02 36.29 18.85 15.92 18.99 26.21 28.28 25.04 23.24 24.92 27.65 27.49 Gross Profit to Total Asset %
0.72 0.77 0.69 0.68 0.72 0.65 0.62 0.35 0.30 0.36 0.48 0.50 0.44 0.43 0.43 0.47 0.47 Asset Turnover
0.51 0.50 1.04 0.55 0.46 0.42 0.58 2.61 13.40 0.44 0.79 0.56 1.47 5.30 0.86 0.62 0.62 Dividend Payout Ratio
68.55 58.44 68.71 69.68 -- 77.62 74.56 131 146 74.01 64.65 61.14 56.85 69.95 61.86 62.07 62.07 Days Sales Outstanding
43.32 35.42 43.72 38.97 39.11 35.38 38.22 62.71 73.71 40.74 42.13 45.11 47.28 70.65 85.46 89.71 89.71 Days Accounts Payable
110 88.54 99.45 92.00 82.88 83.46 80.31 118 145 129 106 109 101 88.76 106 112 116 Days Inventory
135 112 124 123 43.77 126 117 186 217 162 128 125 111 88.06 82.65 84.25 87.90 Cash Conversion Cycle
3.32 4.12 3.67 3.97 4.40 4.37 4.54 3.10 2.51 2.83 3.46 3.34 3.61 4.11 3.44 3.26 3.16 Inventory Turnover
0.45 0.48 0.44 0.44 0.43 0.43 0.42 0.47 0.47 0.47 0.46 0.43 0.44 0.45 0.42 0.41 0.41 COGS to Revenue
0.14 0.12 0.12 0.11 0.10 0.10 0.09 0.15 0.19 0.17 0.13 0.13 0.12 0.11 0.12 0.13 0.13 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABT 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
19,680 22,338 22,476 25,914 29,528 30,765 35,167 21,407 19,050 19,657 20,247 20,405 20,853 27,390 30,578 31,904 31,904 Revenue
8,884 10,641 9,815 11,422 12,612 13,209 14,665 10,017 8,899 9,193 9,218 8,747 9,094 12,409 12,706 13,231 13,231 Cost of Goods Sold
10,796 11,697 12,661 14,492 16,916 17,555 20,502 11,390 10,151 10,464 11,029 11,658 11,759 14,981 17,872 18,673 18,673 Gross Profit
54.86 52.36 56.33 55.92 57.29 57.06 58.30 53.21 53.29 53.23 54.47 57.13 56.39 54.70 58.45 58.53 58.53 Gross Margin %
4,922 5,496 6,350 7,408 8,436 8,406 10,376 7,365 6,735 6,372 6,530 6,785 6,736 9,182 9,744 9,765 9,765 Selling, General, & Admin. Expense
1,697 1,821 2,255 2,506 2,689 2,914 4,038 1,512 1,461 1,371 1,345 1,405 1,447 2,260 2,300 2,440 2,440 Research & Development
-- 0.00 -0.00 -- -0.00 -- -0.00 884 595 588 555 601 550 1,975 2,178 1,936 1,936 Other Operating Expense
4,177 4,379 4,056 4,579 5,791 6,236 6,088 1,629 1,360 2,133 2,599 2,867 3,026 1,564 3,650 4,532 4,532 Operating Income
21.23 19.61 18.05 17.67 19.61 20.27 17.31 7.61 7.14 10.85 12.84 14.05 14.51 5.71 11.94 14.21 14.21 Operating Margin %
-- -- -- -- 201 138 105 65.00 59.00 67.00 77.00 105 99.00 124 105 94.00 94.00 Interest Income
-- -- -- -- -528 -520 -553 -359 -320 -145 -150 -163 -431 -904 -826 -670 -670 Interest Expense
-- -- -- -- -327 -382 -448 -294 -261 -78.00 -73.00 -58.00 -332 -780 -721 -576 -576 Net Interest Income
-51.73 241 -1,780 -109 392 1,340 72.93 -99.00 -1,319 -14.00 -8.00 374 -1,281 1,447 -56.00 121 121 Other Income (Expense)
4,126 4,620 2,276 4,470 5,856 7,194 5,713 1,236 -220 2,041 2,518 3,183 1,413 2,231 2,873 4,077 4,077 Pre-Tax Income
-950 -1,248 -560 -863 -1,122 -1,448 -1,087 -110 457 -53.00 -797 -577 -350 -1,878 -539 -390 -390 Tax Provision
23.02 27.01 24.58 19.32 19.16 20.13 19.02 8.90 208 2.60 31.65 18.13 24.77 84.18 18.76 9.57 9.57 Tax Rate %
3,176 3,372 1,717 3,606 4,734 5,746 4,626 1,126 237 1,988 1,721 2,606 1,063 353 2,334 3,687 3,687 Net Income (Continuing Operations)
60.02 -- -- -- 147 -- -- 3,602 5,726 588 563 1,817 337 124 34.00 -- -1.00 Net Income (Discontinued
Operations)
3,236 3,372 1,717 3,606 4,881 5,746 4,626 4,728 5,963 2,576 2,284 4,423 1,400 477 2,368 3,687 3,687 Net Income
16.44 15.10 7.64 13.92 16.53 18.68 13.15 22.09 31.30 13.10 11.28 21.68 6.71 1.74 7.74 11.56 11.56 Net Margin %
2.07 2.17 1.12 2.34 3.16 3.71 2.98 3.03 3.76 1.64 1.50 2.94 0.94 0.27 1.34 2.07 2.09 EPS (Basic)
2.06 2.16 1.12 2.31 3.12 3.69 2.96 3.01 3.72 1.62 1.49 2.92 0.94 0.27 1.33 2.06 2.06 EPS (Diluted)
1,571 1,564 1,537 1,560 1,564 1,555 1,556 1,567 1,592 1,574 1,527 1,506 1,483 1,749 1,770 1,781 1,782 Shares Outstanding (Diluted
Average)
1,289 1,359 1,559 1,855 1,839 2,090 2,624 3,044 2,782 1,719 1,548 1,472 1,353 3,021 3,278 3,014 3,014 Depreciation, Depletion and
Amortization
5,466 5,738 5,615 6,433 8,224 9,803 8,890 4,639 2,882 3,905 4,216 4,818 3,197 6,156 6,977 7,761 7,761 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABT 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,226 2,894 521 2,456 4,112 8,809 3,648 6,813 10,802 3,475 4,063 5,001 18,620 9,407 3,844 3,860 3,860 Cash And Cash Equivalents
833 62.41 852 364 968 1,123 1,803 1,285 4,372 4,623 397 1,124 155 203 242 280 280 Marketable Securities
2,059 2,956 1,373 2,821 5,080 9,932 5,451 8,097 15,174 8,098 4,460 6,125 18,775 9,610 4,086 4,140 4,140 Cash, Cash Equivalents, Marketable
Securities
3,696 3,577 4,231 4,947 -- 6,542 7,184 7,684 7,613 3,986 3,586 3,418 3,248 5,249 5,182 5,425 5,425 Accounts Receivable
549 708 782 593 532 527 746 631 818 478 558 539 516 790 890 972 972 Inventories, Raw Materials &
Components
583 630 686 682 698 448 384 432 629 349 278 316 294 472 499 560 560 Inventories, Work In Process
1,489 1,204 1,338 1,677 1,546 2,289 2,059 2,221 2,346 1,866 1,807 1,744 1,624 2,339 2,407 2,784 2,784 Inventories, Finished Goods
0.00 -0.00 -0.00 -- -- -0.00 -0.00 -- -- -- -- -- -- -- -- -- -- Inventories, Other
2,620 2,542 2,806 2,951 2,776 3,265 3,189 3,284 3,793 2,693 2,643 2,599 2,434 3,601 3,796 4,316 4,316 Total Inventories
2,359 2,311 2,871 3,324 3,721 3,575 6,493 4,703 4,743 4,470 2,867 2,013 2,319 1,687 1,786 Other Current Assets
1,568 1,786
10,734 11,386 11,282 14,043 17,043 23,314 22,318 23,769 31,323 19,247 13,556 14,155 26,776 20,147 14,632 15,667 15,667 Total Current Assets
-- -- -- -- 1,074 1,133 302 378 274 119 229 4,041 2,947 883 897 883 883 Investments And Advances
338 371 488 494 510 546 649 634 605 502 457 432 408 526 501 519 519 Land And Improvements
2,519 2,655 3,228 3,589 3,699 4,010 4,334 4,467 4,259 2,994 2,968 2,769 2,602 3,613 3,555 3,702 3,702 Buildings And Improvements
8,682 8,814 9,948 10,393 10,366 11,325 11,814 12,216 13,111 8,506 8,480 8,254 8,394 10,394 10,756 11,468 11,468 Machinery, Furniture, Equipment
962 921 738 1,121 614 605 577 699 954 868 727 928 962 732 894 1,110 1,110 Construction In Progress
12,502 12,760 14,402 15,598 15,189 16,487 17,374 18,017 18,929 12,870 12,632 12,383 12,366 15,265 15,706 16,799 16,799 Gross Property, Plant and Equipment
-6,494 -6,757 -7,456 -8,080 -7,970 -8,867 -9,403 -10,143 -10,866 -6,965 -6,697 -6,653 -6,661 -7,658 -8,143 -8,761 -8,761 Accumulated Depreciation
6,008 6,003 6,946 7,518 7,219 7,619 7,971 7,874 8,063 5,905 5,935 5,730 5,705 7,607 7,563 8,038 8,038 Property, Plant and Equipment
10,857 9,961 15,853 15,849 15,138 19,492 28,082 25,695 24,362 15,507 16,265 15,200 12,222 45,493 42,196 40,220 40,220 Intangible Assets
-- -- 9,449 10,129 9,987 13,200 15,930 15,705 15,774 9,772 10,067 9,638 7,683 24,020 23,254 23,195 23,195 Goodwill
1,168 1,791 2,097 2,304 1,945 858 1,902 2,561 3,213 2,175 5,222 2,121 5,016 2,120 1,885 3,079 3,079 Other Long Term Assets
28,767 29,141 36,178 39,714 42,419 52,417 60,574 60,277 67,235 42,953 41,207 41,247 52,666 76,250 67,173 67,887 67,887 Total Assets
1,054 1,033 1,176 1,220 1,351 1,281 1,536 1,721 1,797 1,026 1,064 1,081 1,178 2,402 2,975 3,252 3,252 Accounts Payable
-- -- -- -- 805 442 1,308 515 655 175 270 430 188 309 305 226 226 Total Tax Payable
3,546 3,755 5,026 4,933 7,944 6,706 10,868 12,105 10,889 5,948 5,350 5,683 5,090 8,198 8,805 9,385 9,385 Accounts Payable & Accrued
Expense
1,993 2,062 5,401 2,726 2,732 5,190 6,395 3,375 2,391 3,173 4,437 3,130 1,325 714 207 1,478 1,478 Current Portion of Long-Term Debt
1,287 1,598 1,524 1,445 916 1,154 -0.23 -0.01 -- 386 680 373 245 -- -- -- -- Other Current Liabilities
6,826 7,416 11,951 9,103 11,592 13,049 17,262 15,480 13,280 9,507 10,467 9,186 6,660 8,912 9,012 10,863 10,863 Total Current Liabilities
4,788 4,572 7,010 9,488 8,713 11,266 12,524 12,040 18,085 3,388 3,393 5,871 20,681 27,210 19,359 16,661 16,661 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 755 755 Capital Lease Obligation
4,788 4,572 7,010 9,488 8,713 11,266 12,524 12,040 18,085 3,388 3,393 5,871 20,681 27,210 19,359 17,416 17,416 Long-Term Debt & Capital Lease
Obligation
0.47 0.46 0.88 0.69 0.66 0.72 0.83 0.63 0.77 0.26 0.36 0.42 1.07 0.90 0.64 0.61 0.61 Debt to Equity
-- -- -- -- 4,595 5,202 2,425 3,301 4,871 1,818 2,875 2,241 2,154 2,169 2,040 2,817 2,817 PensionAndRetirementBenefit
220 583 -- -- -- -- 1,112 703 710 466 872 808 356 2,006 2,056 1,546 1,546 NonCurrent Deferred Liabilities
-- -- -- -- 39.14 43.10 88.33 86.31 92.00 96.00 113 115 179 201 198 213 213 Minority Interest
2,608 2,156 3,163 3,344 -- -0.00 4,486 4,227 3,476 2,507 1,961 1,815 2,098 4,855 3,984 3,944 3,944 Other Long-Term Liabilities
14,442 14,726 22,124 21,935 24,901 29,518 37,809 35,751 40,422 17,686 19,568 19,921 31,949 45,152 36,451 36,586 36,586 Total Liabilities
3,240 3,524 -- -- -- -- 8,745 9,817 11,755 12,048 12,383 12,734 13,027 23,206 23,512 23,853 23,853 Common Stock
10,033 10,405 9,569 10,806 13,825 17,054 19,216 20,907 24,151 21,979 22,874 25,757 25,565 23,978 24,560 25,847 25,847 Retained Earnings
1,274 699 390 2,082 -1,164 854 -1,367 -2,597 -3,594 -2,012 -5,053 -6,658 -7,263 -6,062 -7,586 -8,465 -8,465 Accumulated other comprehensive
income (loss)
-- -- 4,291 6,104 7,444 8,258 8,745 9,817 11,755 12,048 12,383 12,734 13,027 23,206 23,512 -- -- Additional Paid-In Capital
-221 -212 -195 -1,213 -2,626 -3,310 -3,917 -3,687 -5,591 -6,844 -8,678 -10,622 -10,791 -10,225 -9,962 -10,147 -10,147 Treasury Stock
14,326 14,415 14,054 17,779 17,480 22,856 22,677 24,440 26,721 25,171 21,526 21,211 20,538 30,897 30,524 31,088 31,088 Total Equity
0.50 0.50 0.39 0.45 0.41 0.44 0.37 0.41 0.40 0.59 0.52 0.51 0.39 0.41 0.45 0.46 0.46 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABT 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,176 3,372 1,717 3,606 4,734 5,746 4,626 4,728 5,963 2,576 2,284 4,423 1,400 477 2,368 3,687 3,687 Net Income
-- -- -- -- -- -- -- -- -- -- -- -- 480 -- -- -- -- Net Foreign Currency Exchange
Gain
3,176 3,372 1,717 3,606 4,734 5,746 4,626 4,728 5,963 2,576 2,284 4,423 1,400 477 2,368 3,687 3,687 Net Income From Continuing
Operations
1,289 1,359 1,559 1,855 1,839 2,090 2,624 3,044 2,782 1,719 1,548 1,472 1,353 3,021 3,278 3,014 3,014 Depreciation, Depletion and
Amortization
-589 -98.22 -102 -432 -948 -388 -395 -670 36.00 -113 -195 -171 -177 -207 -190 -275 -275 Change In Receivables
-285 -88.26 105 131 -257 231 140 -130 -417 -154 -297 -257 -98.00 249 -514 -593 -593 Change In Inventory
-431 -407 -283 -418 436 -387 553 413 -35.00 131 30.00 57.00 113 109 23.00 -138 -- Change In Prepaid Assets
603 200 -183 -82.96 730 203 360 388 -1,443 -1,101 -28.00 215 -1,351 1,764 533 -325 -- Change In Payables And Accrued
Expense
-485 174 -548 -1,063 -39.69 -341 659 1.00 -1,859 -1,237 -490 -156 -1,513 1,915 -148 -1,331 -1,331 Change In Working Capital
-- -- -- -- 347 366 387 383 433 262 246 292 310 406 477 519 519 Stock Based Compensation
-- -- -- -- 350 -- -- -- -- -- -- -- -- -- -- -- -- Cash Flow from Discontinued
Operations
326 142 2,535 786 -235 -585 440 814 1,995 4.00 87.00 -3,065 1,653 -249 325 247 247 Cash Flow from Others
4,467 5,174 5,329 5,184 6,995 7,275 8,736 8,970 9,314 3,324 3,675 2,966 3,203 5,570 6,300 6,136 6,136 Cash Flow from Operations
-1,292 -1,207 -1,338 -1,656 -1,288 -1,089 -1,015 -1,491 -1,795 -1,145 -1,077 -1,110 -1,121 -1,135 -1,394 -1,638 -1,638 Purchase Of Property, Plant,
Equipment
-- -- -- -- -250 -2,371 -9,433 -273 -706 -580 -3,317 -235 -80.00 -17,183 -54.00 -170 -170 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- 5.00 2,520 25.00 8,746 48.00 48.00 -- Sale Of Business
-543 -15.67 -2,129 536 -924 -249 -806 -5,110 -11,998 -10,064 -1,507 -4,933 -2,823 -210 -131 -103 -- Purchase Of Investment
225 784 18.48 17.83 449 16.31 954 5,649 8,936 7,839 5,624 4,112 3,709 129 73.00 21.00 -- Sale Of Investment
-59.09 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-2,313 -281 -7,949 -33.49 -75.06 -6.37 -1,888 1,886 3.00 21.00 70.00 52.00 42.00 35.00 102 27.00 -7.00 Cash From Other Investing Activities
-3,982 -720 -11,398 -1,136 -2,087 -3,699 -12,188 661 -5,560 -3,929 -202 406 -248 -9,618 -1,356 -1,815 -1,815 Cash Flow from Investing
155 224 503 1,250 -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-500 -1,302 -755 -1,059 -1,082 -826 -867 -77.00 -2,364 -1,605 -2,195 -2,237 -522 -117 -238 -718 -718 Repurchase of Stock
-- -- -- -- -- -- -- -- -- -- -- -- -- -710 -- -- -- Net Issuance of Preferred Stock
806 173 5,651 -544 -1,239 3,734 2,122 -3,977 4,413 1,792 766 1,147 13,155 -2,942 -8,450 -1,599 -1,599 Net Issuance of Debt
-1,600 -1,686 -1,777 -1,959 -2,174 -2,414 -2,671 -2,938 -3,183 -882 -1,342 -1,443 -1,539 -1,849 -1,974 -2,270 -2,270 Cash Flow for Dividends
700 -- -- -- 1,009 509 328 569 1,329 -6,001 29.00 297 53.00 337 271 298 298 Other Financing
-438 -2,592 3,622 -2,313 -3,486 1,002 -1,088 -6,423 195 -6,696 -2,742 -2,236 11,147 -5,281 -10,391 -4,289 -4,289 Cash Flow from Financing
231 1,668 -2,372 1,935 1,306 4,697 -5,161 3,165 3,989 -7,327 588 938 13,619 -9,213 -5,563 16.00 16.00 Net Change in Cash
-1,292 -1,207 -1,338 -1,656 -1,288 -1,089 -1,015 -1,491 -1,795 -1,145 -1,077 -1,110 -1,121 -1,135 -1,394 -1,638 -1,638 Capital Expenditure
3,175 3,967 3,991 3,528 5,707 6,186 7,721 7,479 7,519 2,179 2,598 1,856 2,082 4,435 4,906 4,498 4,498 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABT 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
10.89 8.74 21.00 11.63 8.19 7.00 7.74 8.97 8.40 23.66 30.21 15.38 41.30 220 54.38 42.17 39.62 PE Ratio(TTM)
11.34 7.45 19.80 12.26 7.11 6.19 5.11 6.29 8.68 31.47 31.46 14.87 640 22.48 28.47 36.24 34.05 Price to Owner Earnings
(TTM)
2.43 2.01 2.55 2.34 2.26 1.75 1.56 1.73 1.85 2.36 3.15 3.12 2.75 3.22 4.16 4.94 4.64 Price to Book
10.04 6.52 -- 21.58 16.86 11.91 -- -- 20.95 6.14 12.90 11.00 6.80 -- -- -- -- Price to Tangible Book
11.04 7.44 8.97 11.87 7.00 6.49 4.62 5.64 6.64 27.64 26.36 36.31 27.30 22.55 26.10 34.43 32.35 Price-to-Free-Cash-Flow
Ratio
7.85 5.70 6.72 8.09 5.71 5.52 4.08 4.70 5.36 18.12 18.66 22.75 17.76 17.95 20.33 25.22 23.70 Price-to-Operating-Cash-
Flow Ratio
1.78 1.32 1.64 1.62 1.35 1.31 1.01 1.96 2.62 2.92 3.39 3.31 2.73 3.65 4.19 4.85 4.56 PS Ratio
3.22 1.42 3.24 1.33 0.85 0.49 0.49 4.72 -- -- -- -- 6.26 23.45 7.72 4.28 3.88 PEG Ratio
2.01 1.46 2.14 1.97 1.55 1.52 1.39 2.32 2.88 2.80 3.53 3.39 2.88 4.31 4.67 5.28 4.98 EV-to-Revenue
7.23 5.70 9.19 7.93 5.30 4.76 5.51 10.70 19.62 14.07 16.93 14.35 18.76 19.17 20.45 21.72 20.47 EV-to-EBITDA
9.47 7.47 13.23 11.15 6.74 6.05 7.82 31.13 4,846 24.17 26.75 20.66 32.53 37.65 38.57 35.51 33.47 EV-to-EBIT
10.56 13.39 7.56 8.97 14.84 16.53 12.79 3.21 0.02 4.14 3.74 4.84 3.07 2.66 2.59 2.82 2.99 Return on Capital %
10.46 16.05 15.46 16.92 19.85 25.57 30.86 22.50 -3.61 -18.79 -15.51 -1.89 14.18 15.80 9.91 12.28 12.44 Forward Rate of Return
13.38 10.49 12.86 13.81 12.41 11.35 9.60 10.25 11.13 13.65 16.66 16.29 13.87 21.93 29.88 38.87 36.52 Shiller PE Ratio
4.59 5.75 4.98 4.73 5.50 6.04 7.50 6.99 6.41 1.46 1.95 2.14 2.71 1.86 1.55 1.47 1.60 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
34,820 29,045 35,833 41,646 39,469 40,067 35,457 42,243 49,413 59,339 67,892 66,138 56,573 99,507 126,984 153,608 143,914 Market Cap
39,541 32,723 46,871 51,039 45,874 46,634 49,012 49,647 54,807 57,898 71,375 69,129 59,983 118,022 142,662 168,575 158,881 Enterprise Value
22.32 18.87 23.31 26.87 25.54 25.83 22.92 26.90 31.34 38.33 45.02 44.91 38.41 57.07 72.33 86.86 81.61 Month End Stock Price
-7.94 -7.65 -13.50 -12.33 -12.85 -12.65 -20.97 -17.66 -16.07 -6.26 -10.09 -9.45 -9.07 -20.50 -18.55 -18.47 -18.47 Net Cash (per share)
-2.38 -2.17 -7.05 -5.09 -5.11 -4.03 -10.07 -7.68 -5.83 0.95 -4.06 -3.99 -3.63 -14.46 -12.54 -11.95 -11.95 Net Current Asset Value
(per share)
-5.32 -5.08 -10.52 -8.99 -11.95 -8.44 -16.46 -12.95 -11.25 -3.45 -7.43 -6.82 -6.59 -17.21 -15.25 -14.95 -14.95 Net-Net Working Capital
(per share)
24.64 29.79 31.88 37.97 43.55 52.46 60.49 47.26 51.34 50.12 46.43 42.46 36.43 32.73 32.42 37.83 37.83 Projected FCF (per share)
24.50 27.93 27.86 31.12 33.54 33.89 37.41 21.70 19.17 21.03 21.29 22.48 27.68 44.68 52.40 56.97 56.97 Median PS (per share)
11.84 13.26 7.19 20.21 30.12 52.58 46.77 5.71 0.82 -- -- -- 6.13 2.43 9.37 20.29 20.29 Peter Lynch Fair Value (per
share)
10.05 11.86 -- 8.04 10.16 13.42 -- -- 2.25 13.30 9.38 12.57 9.50 -- -- -- -- Graham Number (per share)
14.78 17.19 16.87 20.09 26.52 30.55 30.99 32.55 28.40 29.46 21.47 17.21 49.44 35.24 39.98 46.41 46.41 Earnings Power Value
(EPV)
3.26 3.14 2.13 2.69 2.74 2.58 2.03 1.80 1.84 3.67 3.65 3.77 2.71 2.43 3.34 3.84 3.68 Altman Z-Score
8.00 6.00 5.00 5.00 7.00 6.00 6.00 5.00 6.00 6.00 7.00 7.00 6.00 5.00 6.00 7.00 7.00 Piotroski F-Score
-2.58 -2.85 -2.71 -2.55 -3.60 -2.46 -2.68 -2.44 -2.67 -2.82 -2.66 -2.46 -2.79 -2.12 -2.73 -2.60 -2.60 Beneish M-Score
0.73 0.63 0.86 0.75 0.60 0.69 0.69 0.53 0.53 0.35 0.58 0.59 0.58 0.94 0.61 0.69 0.67 Scaled Net Operating
Assets
9.56 -3.71 21.52 -1.11 -0.06 4.14 13.34 -8.13 3.29 7.41 -2.89 2.55 -2.95 5.93 -3.83 -0.93 -0.93 Sloan Ratio (%)
1.57 1.54 0.94 1.54 1.47 1.79 1.29 1.54 2.36 2.02 1.30 1.54 4.02 2.26 1.62 1.44 1.44 Current Ratio
1.19 1.19 0.71 1.22 1.23 1.54 1.11 1.32 2.07 1.74 1.04 1.26 3.65 1.86 1.20 1.04 1.04 Quick Ratio
22.48 23.92 23.67 28.44 28.95 27.39 26.91 26.95 34.51 38.71 46.37 51.20 45.29 57.47 74.27 88.74 92.45 Highest Stock Price
17.69 18.00 18.87 23.31 23.66 19.87 21.94 21.61 25.91 31.34 35.85 39.06 36.34 38.41 56.27 66.22 72.36 Lowest Stock Price
0.29 1.33 0.13 -0.82 0.29 -0.37 0.27 -1.51 -0.40 1.81 2.59 2.35 -0.01 -18.38 -0.69 -0.73 -0.73 Shares Buyback Ratio (%)
13.98 13.98 2.41 13.57 13.63 4.81 14.24 -39.55 -12.41 4.37 6.17 2.19 3.78 11.37 10.32 3.69 3.69 YoY Rev. per Sh. Growth
(%)
17.71 4.85 -48.15 106 35.06 18.27 -19.78 1.69 23.59 -56.45 -8.02 95.97 -67.81 -71.28 393 54.89 54.89 YoY EPS Growth (%)
30.19 5.43 -0.41 12.86 27.47 19.92 -9.38 -48.19 -38.85 37.07 11.29 15.86 -32.60 63.27 11.99 10.55 10.53 YoY EBITDA Growth (%)
3.45 6.14 6.54 8.75 9.94 14.25 15.80 8.15 -17.28 -28.95 -23.37 -8.31 8.64 12.81 7.15 9.85 10.20 EBITDA 5-Y Growth (%)
1,561 1,552 1,530 1,543 1,545 1,547 1,546 1,557 1,575 1,558 1,516 1,496 1,477 1,740 1,758 1,768 1,768 Shares Outstanding (Basic
Average)
1,560 1,539 1,537 1,550 1,545 1,551 1,547 1,570 1,577 1,548 1,508 1,473 1,473 1,744 1,756 1,768 1,763 Shares Outstanding (EOP)
0.48 0.38 -0.27 -0.13 0.36 0.26 0.29 0.34 0.46 0.63 0.94 1.33 1.49 1.65 1.22 0.77 0.75 Beta
03/02/05 02/22/06 02/23/07 02/19/08 02/20/09 02/19/10 02/18/11 02/21/12 02/15/13 02/21/14 02/27/15 02/19/16 02/17/17 02/16/18 02/22/19 02/21/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABT 6/7
02/22/06 02/23/07 02/23/07 02/19/08 02/19/10 02/18/11 03/27/13 02/21/14 02/27/15 02/19/16 02/17/17 02/16/18 02/22/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABT 7/7
Charles Schwab Corp (NYSE:SCHW) 03/02/2020 4:10PM EST GuruFocus
Price: $ 41.98 +1.23(+3.02%) Market Cap: $ 54 B Enterprise Value: $-26,549 Stock PDF
Financial Strength : 4/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 15.72
Cash to Debt 3.95 Net-margin (%) 34.55
Forward P/E N/A
Equity to Asset 0.07 ROE (%) 16.52
F-Score: PE(NRI) 15.72
ROA (%) 1.30
9999 P/B 2.85
M-Score: Revenue Growth (3Y)(%) 13.20
-2.58 P/S 5.17
EPS Growth (3Y)(%) 26.80
PFCF 6.32
POCF 5.84
Shiller P/E 30.82
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Based in San Francisco, Charles Schwab operates in the brokerage, banking, and asset-management businesses.
The company runs a large network of brick-and-mortar brokerage branch offices and a well-established online
2016 1,766 1,826 1,909 1,977 7,478 investing website. It also operates a bank and a proprietary mutual fund business and offers services to independent
2017 2,081 2,130 2,165 2,242 8,618 investment advisors. The company is among the largest firms in the investment business, with over $3 trillion of client
Good Signs 2018 2,398 2,486 2,579 2,669 10,132
assets. Nearly all of its revenue is from the United States.... (Read More)
Competitors: SHSE:600030 , NYSE:GS, ASX:MQG, NYSE:MS, SHSE:601066 , NAS:AMTD, SHSE:601688 ,
Dividend Yield %: Close to 5- 2019 2,723 2,681 2,711 2,606 10,721 NAS:IBKR, NAS:XP, SHSE:601211, SHSE:600837, BSP:BPAC3, SHSE:600999, SZSE:000166, TSE:8604,
year high 2020 SZSE:000776, SZSE:002736, NYSE:RJF, NAS:MKTX, HKSE:06881
Quarterly Earnings per Share Insider Trades
DCF Mar Jun Sep Dec Full Year
GuruFocus does not 2016 0.29 0.30 0.35 0.36 1.30
calculate intrinsic value: DCF 2017 0.39 0.39 0.42 0.41 1.61
(Earnings Based) for 2018 0.55 0.60 0.65 0.65 2.45
companies with one star 2019 0.69 0.66 0.70 0.62 2.67
predictability or not rated. But 2020
you can go to each stock's Quarterly Dividends Per Share
DCF page to calculate
yourself. Mar Jun Sep Dec Full Year
2016 0.06 0.07 0.07 0.07 0.27
2017 0.08 0.08 0.08 0.08 0.32
Reverse DCF 2018 0.10 0.10 0.13 0.13 0.46
GuruFocus does not 2019 0.17 0.17 0.17 0.17 0.68
calculate reverse DCF growth 2020
rate for companies with one
Growth Rate
star predictability or not rated.
But you can go to each Annual Rates(per share) 10-Y 5-Y 12-M
stock's DCF page to calculate Revenue Growth (%) 9.00 13.00 9.10
yourself.
EBITDA Growth (%) 0.00 0.00 0.00
Free Cash Flow Growth (%) 0.00 0.00 -25.20
Book Value Growth (%) 12.40 12.70 10.00
EPS Growth (%) 18.20 25.60 9.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCHW 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3.09 2.77 3.35 4.09 4.50 3.54 3.58 3.83 3.84 4.20 4.60 4.80 5.61 6.37 7.45 8.12 8.12 Revenue per Share
0.21 0.55 0.95 1.97 1.05 0.68 0.38 0.70 0.69 0.78 0.95 1.03 1.31 1.61 2.45 2.67 2.67 Earnings per Share (diluted)
0.26 0.48 0.69 0.92 1.06 0.68 0.38 0.70 0.69 0.78 0.95 1.03 1.31 1.61 2.45 2.67 2.67 eps without NRI
0.29 0.27 1.51 2.20 -0.33 1.05 -0.17 1.46 0.51 0.94 1.48 0.56 2.19 -1.28 8.39 6.25 6.25 Owner Earnings per Share (TTM)
0.36 0.53 1.32 1.29 -0.16 1.12 -0.12 1.86 0.88 1.09 1.48 0.74 2.44 -0.92 8.73 6.53 6.65 Free Cashflow per Share
0.07 0.09 0.14 0.20 0.22 0.24 0.24 0.24 0.24 0.24 0.24 0.24 0.27 0.32 0.46 0.68 0.68 Dividends per Share
3.30 3.45 3.96 3.22 3.51 4.37 5.18 6.07 6.83 7.33 8.34 9.05 10.23 11.69 13.42 14.75 14.75 Book Value per Share
2.57 3.12 3.63 2.76 3.05 3.91 4.61 4.90 5.62 6.18 7.23 7.98 9.20 10.70 12.38 13.70 13.70 Tangible Book per Share
0.94 0.36 0.31 0.77 0.76 1.30 1.67 1.57 1.28 1.47 1.45 2.18 2.16 14.68 5.16 5.78 5.78 Total Debt per Share
11.96 14.67 19.34 25.55 16.17 18.82 17.11 11.26 14.36 26.00 30.19 32.93 39.47 51.37 41.53 47.56 41.98 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6.47 16.41 25.95 55.08 31.10 17.23 8.04 12.40 10.21 10.12 11.37 10.82 11.71 12.48 16.99 16.63 16.52 Return on Equity %
0.62 1.53 2.55 5.27 2.58 1.24 0.54 0.86 0.77 0.77 0.89 0.86 0.93 1.01 1.30 1.25 1.30 Return on Assets %
14.21 19.20 18.84 13.00 10.01 11.55 10.66 9.95 10.35 12.12 9.57 10.19 12.67 13.66 10.72 8.02 7.21 Weighted Average Cost Of Capital (WACC) %
18.37 58.60 160 96.81 25.36 30.56 11.31 8.73 8.26 5.94 5.37 5.53 5.94 3.02 6.44 14.87 14.78 Effective Interest Rate on Debt %
6.81 20.03 28.48 48.20 23.26 19.16 10.62 18.35 18.94 19.71 21.82 22.72 25.26 27.31 34.61 34.55 34.55 Net Margin %
11.71 19.31 39.48 31.60 -3.57 31.57 -3.23 48.50 22.82 25.89 32.18 15.39 43.55 -14.38 117 80.37 80.37 FCF Margin %
0.29 0.10 0.08 0.24 0.22 0.30 0.32 0.26 0.17 0.18 0.16 0.22 0.18 1.07 0.33 0.34 0.34 Debt to Equity
0.09 0.09 0.10 0.09 0.08 0.07 0.07 0.07 0.07 0.07 0.08 0.07 0.07 0.08 0.07 0.07 0.07 Total Equity to Total Asset
0.03 0.01 0.01 0.02 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.02 0.01 0.08 0.02 0.03 0.03 Total Debt to Total Asset
9.04 7.66 8.95 10.94 11.09 6.46 5.09 4.68 4.05 3.92 4.06 3.76 3.67 3.69 3.75 3.63 3.75 Gross Profit to Total Asset %
0.09 0.08 0.09 0.11 0.11 0.07 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 Asset Turnover
0.29 0.19 0.20 0.22 0.21 0.35 0.63 0.34 0.35 0.31 0.25 0.23 0.21 0.20 0.19 0.26 0.25 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCHW 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,202 3,619 4,309 4,994 5,211 4,108 4,275 4,709 4,899 5,434 6,054 6,369 7,478 8,618 10,132 10,721 10,721 Revenue
4,202 3,619 4,309 4,994 5,211 4,108 4,275 4,709 4,899 5,434 6,054 6,369 7,478 8,618 10,132 10,721 10,721 Gross Profit
2,061 1,614 1,808 2,011 2,121 1,941 1,976 2,180 2,264 2,504 2,652 2,830 3,112 3,415 3,801 4,002 4,002 Selling, General, & Admin. Expense
2,141 2,005 2,501 2,983 3,090 2,167 2,299 2,529 2,635 2,930 3,402 3,539 4,366 5,203 6,331 6,719 6,719 Other Operating Expense
1,213 1,523 2,113 2,270 1,908 1,428 1,723 1,900 1,914 2,085 2,374 2,657 3,493 4,624 6,680 7,580 7,580 Interest Income
-277 -501 -679 -623 -226 -366 -199 -175 -150 -105 -102 -132 -171 -342 -857 -1,064 -1,064 Interest Expense
936 1,022 1,434 1,647 1,682 1,062 1,524 1,725 1,764 1,980 2,272 2,525 3,322 4,282 5,823 6,516 6,516 Net Interest Income
645 1,027 1,476 1,853 2,028 1,276 779 1,392 1,450 1,705 2,115 2,279 2,993 3,650 4,562 4,848 4,848 Other Income (Expense)
645 1,027 1,476 1,853 2,028 1,276 779 1,392 1,450 1,705 2,115 2,279 2,993 3,650 4,562 4,848 Pre-Tax Income
4,848
-231 -393 -585 -733 -798 -489 -325 -528 -522 -634 -794 -832 -1,104 -1,296 -1,055 -1,144 -1,144 Tax Provision
35.81 38.27 39.63 39.56 39.35 38.32 41.72 37.93 36.00 37.18 37.54 36.51 36.89 35.51 23.13 23.60 23.60 Tax Rate %
414 634 891 1,120 1,230 787 454 864 928 1,071 1,321 1,447 1,889 2,354 3,507 3,704 3,704 Net Income (Continuing Operations)
-128 91.00 336 1,287 -18.00 -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
286 725 1,227 2,407 1,212 787 454 864 928 1,071 1,321 1,447 1,889 2,354 3,507 3,704 3,704 Net Income
6.81 20.03 28.48 48.20 23.26 19.16 10.62 18.35 18.94 19.71 21.82 22.72 25.26 27.31 34.61 34.55 34.55 Net Margin %
-- -- -- -- -- -- -- -- 45.00 61.00 60.00 83.00 143 174 178 178 178 Preferred dividends
0.21 0.56 0.97 1.99 1.06 0.68 0.38 0.70 0.69 0.78 0.96 1.04 1.32 1.63 2.47 2.69 2.68 EPS (Basic)
0.21 0.55 0.95 1.97 1.05 0.68 0.38 0.70 0.69 0.78 0.95 1.03 1.31 1.61 2.45 2.67 2.67 EPS (Diluted)
1,362 1,308 1,286 1,222 1,157 1,160 1,194 1,229 1,275 1,293 1,315 1,327 1,334 1,353 1,361 1,320 1,293 Shares Outstanding (Diluted
Average)
226 179 157 156 152 159 146 155 196 202 199 224 234 269 306 349 349 Depreciation, Depletion and
Amortization
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCHW 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,778 1,905 4,507 6,764 20,127 26,614 4,931 8,679 12,663 7,728 11,363 11,978 10,828 14,217 27,938 29,345 29,345 Cash And Cash Equivalents
-- -- -- -- -- -- -- 33,965 46,123 51,618 54,783 65,646 77,365 49,995 66,578 61,422 61,422 Marketable Securities
2,778 1,905 4,507 6,764 20,127 26,614 4,931 42,644 58,786 59,346 66,146 77,624 88,193 64,212 94,516 90,767 90,767 Cash, Cash Equivalents,
Marketable Securities
-- -- -- -- -- -- -- 11,544 14,025 14,450 16,208 17,942 17,931 21,450 22,647 22,911 22,911 Accounts Receivable
13,101 13,505 16,084 19,803 28,015 35,801 16,581 54,418 73,144 74,305 82,823 96,148 106,852 86,311 117,615 113,913 113,913 Total Current Assets
24,354 19,387 6,386 8,201 15,315 29,875 42,092 49,723 65,012 82,512 89,760 116,366 153,260 171,836 211,586 197,479 197,479 Investments And Advances
-- -- -- -- 57.00 57.00 57.00 59.00 59.00 70.00 107 110 168 167 179 163 163 Land And Improvements
-- -- -- -- 414 428 438 446 456 460 673 771 807 810 945 1,056 1,056 Buildings And Improvements
-- -- -- -- 612 620 1,516 1,658 1,693 1,655 1,775 1,711 1,891 2,075 2,193 2,461 2,461 Machinery, Furniture, Equipment
-- -- -- -- 14.00 4.00 15.00 17.00 7.00 95.00 64.00 18.00 26.00 142 248 324 324 Construction In Progress
903 699 602 617 2,194 2,259 2,308 2,487 2,502 2,580 2,929 2,932 3,234 3,551 3,932 4,941 4,941 Gross Property, Plant and
Equipment
-- -- -- -- -1,533 -1,618 -1,684 -1,802 -1,827 -1,790 -1,890 -1,787 -1,935 -2,080 -2,163 -2,236 -2,236 Accumulated Depreciation
903 699 602 617 661 641 624 685 675 790 1,039 1,145 1,299 1,471 1,769 2,705 2,705 Property, Plant and Equipment
964 419 419 525 528 528 685 1,487 1,547 1,493 1,454 1,408 1,371 1,335 1,379 1,355 1,355 Intangible Assets
-- -- -- -- 528 528 631 1,161 1,228 1,227 1,227 1,227 1,227 1,227 1,227 1,227 1,227 Goodwill
7,811 13,341 25,501 13,140 7,156 8,586 32,586 2,240 -6,741 -15,458 -20,434 -31,362 -39,399 -17,679 -35,867 -21,447 -21,447 Other Long Term Assets
47,133 47,351 48,992 42,286 51,675 75,431 92,568 108,553 133,637 143,642 154,642 183,705 223,383 243,274 296,482 294,005 294,005 Total Assets
-- -- -- -- -- -- 32,250 36,587 41,398 36,800 36,309 35,773 38,301 32,530 32,726 39,220 39,220 Accounts Payable
28,985 26,219 22,443 22,212 22,890 30,026 33,746 37,984 43,039 38,386 38,125 37,924 40,632 35,340 37,511 44,736 44,736 Accounts Payable & Accrued
Expense
663 -- -- -- -- -- -- -- -- -- -- -- -- 15,000 -- -- -- Current Portion of Long-Term
Debt
29,648 26,219 22,443 22,212 22,890 30,026 33,746 37,984 43,039 38,386 38,125 37,924 40,632 50,340 37,511 44,736 44,736 Total Current Liabilities
585 462 388 899 883 1,512 2,006 1,901 1,537 1,814 1,816 2,802 2,876 4,692 6,826 7,430 7,430 Long-Term Debt
-- -- -- -- -- -- -- 100.00 95.00 89.00 83.00 75.00 -- 61.00 52.00 -- -- Capital Lease Obligation
585 462 388 899 883 1,512 2,006 2,001 1,632 1,903 1,899 2,877 2,876 4,753 6,878 7,430 7,430 Long-Term Debt & Capital Lease
Obligation
0.29 0.10 0.08 0.24 0.22 0.30 0.32 0.26 0.17 0.18 0.16 0.22 0.18 1.07 0.33 0.34 0.34 Debt to Equity
12,514 16,220 21,153 15,443 23,841 38,820 50,590 60,854 79,377 92,972 102,815 129,502 163,454 169,656 231,423 220,094 220,094 Other Long-Term Liabilities
42,747 42,901 43,984 38,554 47,614 70,358 86,342 100,839 124,048 133,261 142,839 170,303 206,962 224,749 275,812 272,260 272,260 Total Liabilities
14.00 14.00 14.00 14.00 14.00 14.00 14.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 Common Stock
-- -- -- -- -- -- -- -- 865 869 872 1,459 2,783 2,793 2,793 2,793 2,793 Preferred Stock
3,258 3,847 4,901 5,776 6,735 7,243 7,409 7,978 8,554 9,253 10,198 11,253 12,649 14,408 17,329 19,960 19,960 Retained Earnings
-64.00 -114 -36.00 -17.00 -553 -191 16.00 8.00 298 9.00 165 -134 -163 -152 -252 88.00 88.00 Accumulated other
comprehensive income (loss)
1,769 1,827 1,868 2,107 2,214 2,298 3,034 3,826 3,881 3,951 4,050 4,152 4,267 4,353 4,499 4,656 4,656 Additional Paid-In Capital
-591 -1,124 -1,739 -4,148 -4,349 -4,291 -4,247 -4,113 -4,024-3,716 -3,497 -3,343 -3,130 -2,892 -3,714 -5,767 -5,767 Treasury Stock
4,386 4,450 5,008 3,732 4,061 5,073 6,226 7,714 9,589 10,381 11,803 13,402 16,421 18,525 20,670 21,745 21,745 Total Equity
0.09 0.09 0.10 0.09 0.08 0.07 0.07 0.07 0.07 0.07 0.08 0.07 0.07 0.08 0.07 0.07 0.07 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCHW 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
286 725 1,227 2,407 1,230 787 454 864 928 1,071 1,321 1,447 1,889 2,354 3,507 3,704 3,704 Net Income
286 725 1,227 2,407 1,230 787 454 864 928 1,071 1,321 1,447 1,889 2,354 3,507 3,704 3,704 Net Income From Continuing
Operations
226 179 157 156 152 159 146 155 196 202 199 224 234 269 306 349 349 Depreciation, Depletion and
Amortization
-- -- -- -- 5,139 -1,301 -2,464 561 -2,495 -671 -1,681 -1,760 3.00 -3,428 -1,100 -125 -125 Change In Receivables
-- -- -- -- -962 5,935 5,458 2,867 4,741 -4,279 -439 -8.00 2,695 -5,378 2,096 6,253 6,253 Change In Payables And Accrued
Expense
159 -401 694 -60.00 -1,606 403 -668 971 -336 102 623 -700 1,054 -4,066 7,910 4,442 4,442 Change In Working Capital
-4.00 -4.00 -31.00 175 97.00 16.00 -51.00 52.00 5.00 -21.00 -25.00 -7.00 15.00 58.00 49.00 2.00 -- Change In DeferredTax
-- -- -- -- 69.00 75.00 87.00 99.00 105 116 115 135 141 153 197 183 183 Stock Based Compensation
19.00 278 -287 -932 16.00 -63.00 -13.00 292 368 186 115 147 270 393 487 645 647 Cash Flow from Others
686 777 1,760 1,746 2.00 1,437 -9.00 2,464 1,266 1,656 2,348 1,246 3,603 -839 12,456 9,325 9,325 Cash Flow from Operations
-194 -78.00 -59.00 -168 -188 -140 -129 -180 -148 -249 -400 -266 -346 -400 -570 -708 -708 Purchase Of Property, Plant,
Equipment
-- -- -- -- -5.00 -- -44.00 54.00 -80.00 -- -- -- -- -- -- -- -- Purchase Of Business
-3,387 -2,161 -3,224 -3,554 -10,084 -19,812 -30,603 -20,687 -37,713 -39,003 -22,054 -40,654 -60,410 -47,958 -73,674 -51,256 -51,256 Purchase Of Investment
1,840 686 935 2,034 2,019 7,309 16,804 13,264 22,656 20,834 15,086 13,304 23,187 29,339 33,541 65,717 65,717 Sale Of Investment
-817 -1,815 -892 2,055 -2,643 -1,414 -1,438 -1,118 -975 -1,632 -1,027 -1,007 -1,206 -1,454 148 -1,789 -1,789 Cash From Other Investing Activities
-2,558 -3,368 -3,240 367 -10,901 -14,057 -15,410 -8,667 -16,260 -20,050 -8,395 -28,623 -38,775 -20,473 -40,555 11,964 11,964 Cash Flow from Investing
-- -- -- -- -- -- 543 -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-332 -582 -615 -2,328 -350 -- -- -- -- -- -- -- -- -- -1,000 -2,220 -- Repurchase of Stock
-- -- -- -- -- -- -- -- 863 -- -- 581 1,316 7.00 -- -- -- Net Issuance of Preferred Stock
-512 -56.00 -68.00 506 -20.00 667 496 -116 -82.00 -31.00 -6.00 989 -7.00 16,872 -12,885 593 1,678 Net Issuance of Debt
-101 -116 -173 -1,500 -253 -279 -288 -295 -337 -368 -373 -387 -486 -592 -787 -1,060 -1,060 Cash Flow for Dividends
2,810 2,999 4,938 3,466 10,200 15,031 11,358 10,362 18,534 13,858 10,061 26,809 34,140 6,312 61,838 -11,252 -13,472 Other Financing
1,865 2,245 4,082 144 9,577 15,419 12,109 9,951 18,978 13,459 9,682 27,992 34,963 22,599 47,166 -13,939 -13,939 Cash Flow from Financing
-7.00 -346 2,602 2,257 -1,322 2,799 -3,310 3,748 3,984 -4,935 3,635 615 -209 1,287 19,067 7,350 7,350 Net Change in Cash
-194 -78.00 -59.00 -168 -188 -140 -129 -180 -148 -249 -400 -266 -346 -400 -570 -708 -708 Capital Expenditure
492 699 1,701 1,578 -186 1,297 -138 2,284 1,118 1,407 1,948 980 3,257 -1,239 11,886 8,617 8,617 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCHW 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
56.95 26.67 20.36 12.71 15.40 27.68 46.24 16.09 20.81 33.33 31.45 31.97 30.36 31.91 16.95 17.81 15.72 PE Ratio(TTM)
41.10 55.15 12.81 11.59 -- 17.87 -- 7.73 28.32 27.66 20.45 58.59 18.06 -- 4.95 7.61 6.72 Price to Owner Earnings
(TTM)
3.63 4.25 4.89 7.95 4.61 4.31 3.30 1.86 2.10 3.55 3.62 3.64 3.86 4.39 3.10 3.22 2.85 Price to Book
4.65 4.70 5.33 9.25 5.30 4.81 3.71 2.30 2.56 4.21 4.18 4.13 4.29 4.80 3.35 3.47 3.06 Price to Tangible Book
32.95 26.87 14.38 19.52 -- 16.82 -- 6.01 16.41 24.07 20.41 44.86 16.22 -- 4.75 7.16 6.32 Price-to-Free-Cash-Flow
Ratio
23.59 24.25 14.22 17.66 5,390 15.18 -- 5.57 14.48 20.46 16.93 35.22 14.66 -- 4.53 6.62 5.84 Price-to-Operating-Cash-
Flow Ratio
3.88 5.32 5.77 6.23 3.59 5.31 4.78 2.93 3.74 6.19 6.56 6.86 7.04 8.06 5.58 5.86 5.17 PS Ratio
-- 4.93 1.08 0.91 0.59 1.39 -- -- -- 74.07 1.84 2.24 2.04 1.79 -- -- -- PEG Ratio
3.42 4.83 4.72 4.76 -0.10 -0.79 4.13 -5.59 -7.75 -4.21 -3.93 -4.68 -4.00 3.18 -2.91 -1.81 -2.48 EV-to-Revenue
16.52 14.50 12.47 11.84 -0.26 -2.58 19.08 4.94 4.97 15.08 13.39 14.32 14.70 19.76 -- -- -- EV-to-EBITDA
-8.01 9.06 22.23 22.85 24.49 24.37 -0.15 -3.14 -4.45 4.40 20.73 17.05 16.55 19.12 -- -- -- Forward Rate of Return
39.61 42.08 44.74 40.75 23.30 26.27 23.80 14.21 16.97 28.98 31.19 32.47 37.57 51.23 36.17 34.91 30.82 Shiller PE Ratio
0.62 0.61 0.70 0.78 1.36 1.28 1.40 2.13 1.67 0.92 0.79 0.73 0.68 0.62 1.11 1.43 1.63 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
15,915 18,935 24,469 29,659 18,714 21,871 20,573 14,313 18,345 33,719 39,571 43,479 52,604 69,110 55,336 61,095 53,995 Market Cap
14,385 17,492 20,350 23,794 -530 -3,231 17,648 -26,330 -37,944 -22,855 -23,804 -29,809 -29,930 27,444 -29,509 -19,449 -26,549 Enterprise Value
11.96 14.67 19.34 25.55 16.17 18.82 17.11 11.26 14.36 26.00 30.19 32.93 39.47 51.37 41.53 47.56 41.98 Month End Stock Price
-30.04 -31.76 -31.20 -27.39 -23.75 -37.64 -67.71 -45.78 -51.08 -56.99 -58.51 -70.19 -89.12 -119 -136 -141 -141 Net Cash (per share)
-30.04 -31.76 -31.20 -27.39 -23.75 -37.64 -67.71 -38.97 -43.53 -49.31 -49.90 -61.11 -81.11 -109 -125 -130 -130 Net-Net Working Capital (per
share)
5.48 5.71 5.51 8.54 9.38 11.73 10.84 13.09 13.39 13.36 16.66 17.51 24.13 21.38 39.35 54.53 54.53 Projected FCF (per share)
12.11 11.27 14.86 18.99 21.14 15.76 15.65 16.62 16.56 18.87 22.25 25.33 29.48 33.57 42.71 48.00 48.00 Median PS (per share)
-- 2.98 17.25 23.00 26.25 13.52 -- -- -- -- 16.39 14.86 19.32 28.56 -- -- -- Peter Lynch Fair Value (per
share)
3.88 5.81 7.50 7.56 8.53 7.74 6.28 8.78 9.34 10.42 12.43 13.60 16.47 19.69 26.13 28.69 28.69 Graham Number (per share)
-0.74 0.15 2.55 4.29 15.63 20.71 1.49 31.05 43.78 42.96 47.30 54.64 61.92 30.69 62.13 61.25 61.25 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-2.47 -2.56 -2.32 -2.40 -2.33 -2.65 -2.15 -2.60 -2.33 -2.38 -2.36 -2.33 -2.40 -2.20 -2.46 -2.58 -2.58 Beneish M-Score
0.06 0.06 0.02 -0.04 -0.36 -0.39 0.04 0.01 -0.01 0.03 0.02 0.03 0.05 0.11 -0.00 -0.00 -0.00 Scaled Net Operating
Assets
4.58 7.00 5.53 0.70 23.44 17.77 17.15 6.51 11.91 13.55 4.76 15.69 16.59 9.73 10.66 -5.98 -5.98 Sloan Ratio (%)
13.76 16.00 19.36 25.55 26.00 19.49 19.88 19.45 15.38 26.00 30.78 35.42 40.47 52.28 59.59 51.07 51.65 Highest Stock Price
8.30 9.87 14.37 17.76 14.59 11.34 12.76 10.75 11.26 14.36 23.65 25.96 22.22 37.53 38.25 35.10 34.58 Lowest Stock Price
1.99 3.00 1.98 8.25 0.30 -0.41 -3.47 -5.72 -0.50 -1.52 -1.07 -0.73 -0.94 -0.94 0.96 3.59 3.59 Shares Buyback Ratio (%)
2.97 -10.31 21.11 21.96 10.20 -21.38 1.10 7.04 0.26 9.40 9.54 4.26 16.79 13.63 16.88 9.09 9.05 YoY Rev. per Sh. Growth
(%)
-40.00 162 72.73 107 -46.70 -35.24 -44.12 84.21 -1.43 13.04 21.79 8.42 27.18 22.90 52.17 8.98 8.98 YoY EPS Growth (%)
-10.39 6.20 25.91 30.37 26.00 19.88 -4.68 -10.50 -9.82 0.45 17.07 14.29 14.86 17.85 -- -- -- EBITDA 5-Y Growth (%)
1,362 1,308 1,286 1,208 1,148 1,156 1,191 1,227 1,274 1,285 1,303 1,315 1,324 1,339 1,348 1,311 1,284 Shares Outstanding (Basic
Average)
1,331 1,291 1,265 1,161 1,157 1,162 1,202 1,271 1,278 1,297 1,311 1,320 1,333 1,345 1,332 1,285 1,286 Shares Outstanding (EOP)
1.72 2.41 2.23 1.35 1.24 1.21 1.26 1.44 1.52 1.59 1.28 1.38 1.83 2.06 1.39 0.94 0.92 Beta
03/02/05 02/27/06 02/26/07 02/27/08 02/25/09 02/25/10 02/25/11 02/24/12 02/22/13 02/24/14 02/23/15 02/24/16 02/23/17 02/22/18 02/22/19 02/26/20 Filing Date
02/27/06 02/26/07 02/26/07 02/27/08 02/25/10 02/25/11 02/22/13 02/24/14 02/23/15 02/24/16 02/23/17 02/22/18 02/22/19 02/26/20 02/26/20 02/26/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCHW 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SCHW 7/7
Freeport-McMoRan Inc (NYSE:FCX) 03/02/2020 4:10PM EST GuruFocus
Price: $ 10.50 +0.54(+5.42%) Market Cap: $ 15.24 B Enterprise Value: $31.44 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.20 Operating margin (%) 4.68
P/B 1.64
Equity to Asset 0.23 Net-margin (%) -1.66
P/S 1.06
Interest Coverage 1.09 ROE (%) -2.52
F-Score:
POCF 10.29
ROA (%) -0.58
4 EV-to-EBIT 33.95
Z-Score: ROC (Joel Greenblatt) (%) 2.96
0.54 Shiller P/E 38.39
Revenue Growth (3Y)(%) -4.10
M-Score: Current Ratio 2.47
-1.68 EPS Growth (3Y)(%) 61.40
Quick Ratio 1.20
Days Inventory 121.70
Days Sales Outstanding 18.78
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Freeport-McMoRan Inc mines more copper than any other publicly traded company in the world. Its assets include the
Indonesian Grasberg mining complex, the world's largest copper and gold mine in terms of recoverable reserves.
Good Signs 2016 3,242 3,334 3,877 4,377 14,830 Freeport also has significant mining operations in the Americas.... (Read More)
2017 3,341 3,711 4,310 5,041 16,403 Competitors: LSE:ANTO, TSX:FM, NYSE:SCCO, TSX:KAT, WAR:KGH, TSX:LUN, SZSE:000630 , LSE:KAZ,
Insider Buy: Insider Buying 2018 4,868 5,168 4,908 3,684 18,628 SZSE:002203, SZSE:300618, XTER:NDA, SHSE:688388, ASX:OZL, SHSE:601137, TSX:TRQ, HKSE:02362,
TSX:ERO, HKSE:01636, HKSE:01258, TSX:HBM
2019 3,792 3,546 3,153 3,911 14,402
DCF 2020 Insider Trades
GuruFocus does not Quarterly Earnings per Share
calculate intrinsic value: DCF Mar Jun Sep Dec Full Year
(Earnings Based) for 2016 -3.35 -0.38 0.16 0.21 -3.36
companies with one star 2017 0.16 0.18 0.19 0.71 1.24
predictability or not rated. But 2018 0.47 0.59 0.38 0.09 1.53
you can go to each stock's 2019 0.02 -0.05 -0.15 0.01 -0.17
DCF page to calculate 2020
yourself.
Quarterly Dividends Per Share
Reverse DCF Mar Jun Sep Dec Full Year
2016 0.00 0.00 0.00 0.00 0.00
GuruFocus does not
2017 0.00 0.00 0.00 0.00 0.00
calculate reverse DCF growth
2018 0.00 0.05 0.05 0.05 0.15
rate for companies with one
2019 0.05 0.05 0.05 0.05 0.20
star predictability or not rated.
2020
But you can go to each
stock's DCF page to calculate Growth Rate
yourself. Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) -6.70 -9.50 -22.30
EBITDA Growth (%) 0.00 0.00 -64.40
Free Cash Flow Growth (%) 0.00 0.00 -162.10
Book Value Growth (%) -9.30 -9.30 -5.20
EPS Growth (%) 0.00 0.00 -109.50
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FCX 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6.41 9.48 13.10 21.33 23.29 16.03 20.00 21.86 18.88 20.80 19.25 13.50 11.25 11.28 12.78 9.93 9.91 Revenue per Share
2.48 5.53 7.09 9.99 -14.21 8.04 10.55 10.63 7.18 8.18 3.53 -9.26 -0.08 3.73 4.52 1.61 1.61 EBITDA per Share
1.90 4.94 6.56 8.34 -16.66 6.83 9.46 9.56 5.95 5.40 -0.19 -12.49 -2.06 2.55 3.32 0.64 0.64 EBIT per Share
0.43 2.34 3.32 3.75 -14.86 1.47 4.57 4.78 3.19 2.64 -1.26 -11.31 -3.16 1.25 1.78 -0.17 -0.17 Earnings per Share (diluted)
0.43 2.34 3.32 3.71 -14.86 1.47 4.57 4.78 3.19 2.64 -1.37 -11.32 -2.96 1.21 1.79 -0.17 -0.17 eps without NRI
0.56 2.85 3.24 5.08 -19.21 1.66 3.41 3.66 0.72 2.23 -2.54 -12.59 -4.07 -0.02 0.35 -0.76 -0.76 Owner Earnings per Share (TTM)
0.54 3.20 3.65 5.63 0.87 3.00 5.12 4.28 0.29 0.85 -1.53 -2.90 0.70 2.24 1.30 -0.81 -0.81 Free Cashflow per Share
0.43 0.50 0.63 0.63 0.91 -- 0.45 1.00 1.19 1.25 1.25 0.46 -- -- 0.15 0.20 0.20 Dividends per Share
0.18 1.99 3.41 18.62 2.51 7.26 13.23 16.50 18.49 20.17 17.60 6.28 4.19 5.51 6.76 6.41 6.41 Book Value per Share
0.18 1.99 3.41 10.03 2.07 6.86 12.89 16.16 18.13 17.96 17.28 6.03 3.98 5.30 6.49 6.13 6.13 Tangible Book per Share
5.45 3.36 1.73 9.41 8.93 7.38 5.03 3.73 3.72 19.95 18.14 16.31 11.09 9.14 7.69 6.94 6.94 Total Debt per Share
19.12 26.90 27.87 51.22 12.22 40.15 60.05 36.79 34.20 37.74 23.36 6.77 13.19 18.96 10.31 13.12 10.50 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.17 62.13 65.11 26.78 -94.48 33.94 39.52 32.40 18.33 13.82 -6.69 -93.73 -59.86 25.85 29.23 -2.53 -2.52 Return on Equity %
4.13 18.71 26.64 12.93 -34.58 11.14 15.66 14.84 9.01 5.42 -2.08 -23.17 -10.29 4.87 6.54 -0.58 -0.58 Return on Assets %
20.61 65.58 87.64 44.95 -59.53 37.10 48.54 46.09 25.77 14.75 -0.40 -33.27 -9.21 14.57 17.37 2.97 2.96 Return on Capital %
10.83 44.90 66.87 28.96 17.32 28.33 39.24 36.17 21.72 11.51 2.12 -31.98 -14.05 12.24 15.12 -1.79 -1.79 Return on Invested Capital %
8.25 9.91 15.70 15.09 10.53 12.93 13.37 10.86 14.36 13.56 7.39 6.40 12.54 15.56 9.03 8.92 6.95 Weighted Average Cost Of Capital (WACC) %
-- -- -- 13.00 8.02 8.56 8.32 7.53 5.27 4.28 3.06 3.15 4.15 5.48 7.76 5.84 6.08 Effective Interest Rate on Debt %
38.49 60.61 56.19 42.30 27.06 45.88 50.63 47.70 35.81 30.04 7.53 -87.68 -18.23 26.96 27.82 9.01 9.01 Gross Margin %
29.66 52.09 50.09 38.70 23.91 43.75 47.77 43.77 31.95 25.58 3.51 -92.77 -22.78 22.00 24.40 4.68 4.68 Operating Margin %
8.53 23.81 25.16 17.57 -62.19 18.28 22.84 21.84 16.89 12.81 -6.34 -83.49 -29.10 11.08 13.97 -1.66 -1.66 Net Margin %
8.45 33.74 27.89 26.39 3.72 18.68 25.61 19.57 1.55 4.08 -7.92 -21.45 6.23 19.85 10.16 -8.12 -8.12 FCF Margin %
1.68 0.68 0.28 0.40 1.27 0.70 0.38 0.23 0.20 0.99 1.03 2.60 2.65 1.66 1.14 1.08 1.08 Debt to Equity
0.23 0.33 0.45 0.45 0.25 0.35 0.43 0.49 0.50 0.33 0.31 0.17 0.16 0.21 0.23 0.23 0.23 Total Equity to Total Asset
0.38 0.23 0.13 0.18 0.32 0.24 0.16 0.11 0.10 0.33 0.32 0.44 0.43 0.36 0.26 0.25 0.25 Total Debt to Total Asset
18.62 47.63 59.49 31.12 15.05 27.97 34.71 32.41 19.11 12.71 2.47 -24.34 -6.45 11.85 13.04 3.12 3.15 Gross Profit to Total Asset %
0.48 0.79 1.06 0.74 0.56 0.61 0.69 0.68 0.53 0.42 0.33 0.28 0.35 0.44 0.47 0.35 0.35 Asset Turnover
1.00 0.21 0.19 0.17 -- -- 0.10 0.21 0.37 0.47 -- -- -- -- 0.08 -- -- Dividend Payout Ratio
54.59 60.09 30.63 26.46 12.33 40.38 44.75 15.59 18.79 30.15 17.39 16.12 27.71 29.42 16.24 18.78 18.78 Days Sales Outstanding
96.72 127 114 44.63 32.73 39.91 49.54 45.22 49.50 53.46 48.14 29.97 32.06 47.10 45.09 46.07 46.07 Days Accounts Payable
108 114 92.72 67.39 79.41 126 123 122 133 120 102 62.81 80.32 119 117 119 122 Days Inventory
65.91 47.20 9.84 49.22 59.01 127 118 92.42 103 96.31 71.67 48.96 75.97 101 88.59 92.14 94.41 Cash Conversion Cycle
3.38 3.19 3.94 5.42 4.60 2.89 2.97 2.99 2.74 3.05 3.56 5.81 4.54 3.08 3.11 3.06 3.00 Inventory Turnover
0.62 0.39 0.44 0.58 0.73 0.54 0.49 0.52 0.64 0.70 0.92 1.88 1.18 0.73 0.72 0.91 0.91 COGS to Revenue
0.18 0.12 0.11 0.11 0.16 0.19 0.17 0.18 0.23 0.23 0.26 0.32 0.26 0.24 0.23 0.30 0.30 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FCX 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,372 4,179 5,791 16,939 17,796 15,040 18,982 20,880 18,010 20,921 20,001 14,607 14,830 16,403 18,628 14,402 14,402 Revenue
1,459 1,646 2,537 9,773 12,980 8,139 9,371 10,920 11,561 14,637 18,494 27,415 17,534 11,980 13,445 13,105 13,105 Cost of Goods Sold
913 2,533 3,254 7,166 4,816 6,901 9,611 9,960 6,449 6,284 1,507 -12,808 -2,704 4,423 5,183 1,297 1,297 Gross Profit
38.49 60.61 56.19 42.30 27.06 45.88 50.63 47.70 35.81 30.04 7.53 -87.68 -18.23 26.96 27.82 9.01 9.01 Gross Margin %
89.93 104 157 466 269 321 381 415 431 657 580 558 597 477 443 414 414 Selling, General, & Admin. Expense
-- -- -- 145 292 90.00 -- 271 -- -- -- -- -- -- -- -- -- Research & Development
119 252 196 -- -- -90.00 162 134 263 276 225 185 77.00 337 194 209 209 Other Operating Expense
704 2,177 2,901 6,555 4,255 6,580 9,068 9,140 5,755 5,351 702 -13,551 -3,378 3,609 4,546 674 674 Operating Income
29.66 52.09 50.09 38.70 23.91 43.75 47.77 43.77 31.95 25.58 3.51 -92.77 -22.78 22.00 24.40 4.68 4.68 Operating Margin %
-- -- -- -513 -584 -586 -462 -312 -186 -518 -606 -617 -755 -801 -945 -620 -620 Interest Expense
-- -- -- -513 -584 -586 -462 -312 -186 -518 -606 -617 -755 -801 -945 -620 -620 Net Interest Income
-129 -140 -75.00 69.00 -16,980 -178 -94.00 -10.00 -82.00 80.00 -896 40.00 661 94.00 291 252 252 Other Income (Expense)
-41.44 -127 -168 -791 -617 -785 -1,208 -1,187 -939 -761 -523 -106 -290 -278 -292 -50.00 -50.00 Other Income (Minority Interest)
574 2,037 2,826 6,111 -13,309 5,816 8,512 8,818 5,487 4,913 -800 -14,128 -3,472 2,902 3,892 306 306 Pre-Tax Income
-331 -915 -1,201 -2,400 2,844 -2,307 -2,983 -3,087 -1,510 -1,475 -225 1,951 -371 -883 -991 -510 -510 Tax Provision
57.57 44.92 42.50 39.27 21.37 39.67 35.04 35.01 27.52 30.02 -28.13 13.81 -10.69 30.43 25.46 167 167 Tax Rate %
202 995 1,457 2,942 -10,450 3,534 5,544 5,747 3,980 3,441 -1,022 -12,180 -3,832 2,029 2,909 -192 -192 Net Income (Continuing Operations)
-- -- -- 35.00 -- -- -- -- -- -- 277 91.00 -193 66.00 -15.00 3.00 3.00 Net Income (Discontinued
Operations)
202 995 1,457 2,977 -11,067 2,749 4,336 4,560 3,041 2,680 -1,268 -12,195 -4,315 1,817 2,602 -239 -239 Net Income
8.53 23.81 25.16 17.57 -62.19 18.28 22.84 21.84 16.89 12.81 -6.34 -83.49 -29.10 11.08 13.97 -1.66 -1.66 Net Margin %
45.49 61.00 61.00 208 274 222 63.00 -- -- 22.00 40.00 41.00 -- -- -- -- -- Preferred dividends
0.43 2.59 3.66 4.06 -14.86 1.53 4.67 4.81 3.20 2.65 -1.26 -11.31 -3.16 1.25 1.79 -0.17 -0.17 EPS (Basic)
0.43 2.34 3.32 3.75 -14.86 1.47 4.57 4.78 3.19 2.64 -1.26 -11.31 -3.16 1.25 1.78 -0.17 -0.17 EPS (Diluted)
370 441 442 794 764 938 949 955 954 1,006 1,039 1,082 1,318 1,454 1,458 1,451 1,451 Shares Outstanding (Diluted
Average)
215 260 233 1,309 1,871 1,137 1,036 1,022 1,179 2,797 3,863 3,497 2,610 1,714 1,754 1,412 1,412 Depreciation, Depletion and
Amortization
918 2,437 3,134 7,933 -10,854 7,539 10,010 10,152 6,852 8,228 3,669 -10,014 -107 5,417 6,591 2,338 2,338 EBITDA
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
551 764 907 1,626 872 2,656 3,738 4,822 3,705 1,985 464 177 4,245 4,526 4,217 2,020 2,020 Cash And Cash Equivalents
551 764 907 1,626 872 2,656 3,738 4,822 3,705 1,985 464 177 4,245 4,526 4,217 2,020 2,020 Cash, Cash Equivalents, Marketable
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FCX 3/7
355 688 486 1,228 601 1,664 2,327 892 927 1,728 953 645 1,126 1,322 829 741 741 Securities
Accounts Receivable
213 152 -- 1,525 1,735 1,093 1,169 2,904 3,413 3,673 4,088 3,334 2,899 3,010 2,985 3,110 3,110 Inventories, Raw Materials &
Components
-- 145 -- -- -- -- -- 187 252 199 174 108 114 154 192 124 124 Inventories, Work In Process
253 3.00 -- 1,360 1,028 1,110 1,409 778 911 1,146 1,099 633 629 985 1,326 839 839 Inventories, Finished Goods
-- 265 724 -- -- 667 856 -- -- -- -- -- -- -- -- -- -- Inventories, Other
467 565 724 2,885 2,763 2,870 3,434 3,869 4,576 5,018 5,361 4,075 3,642 4,149 4,503 4,073 4,073 Total Inventories
6.72 5.00 34.00 97.00 386 104 254 214 387 407 657 1,081 543 286 422 655 655 Other Current Assets
1,460 2,022 2,151 5,903 5,233 7,433 9,851 10,047 10,297 9,972 9,045 7,462 10,435 10,626 10,464 7,915 7,915 Total Current Assets
-- -- -- -- -- -- -- 658 632 178 328 327 303 262 316 303 303 Investments And Advances
1,441 1,500 -- 2,300 2,381 2,703 2,815 3,151 3,811 4,334 5,100 6,964 7,479 7,553 8,051 8,435 8,435 Buildings And Improvements
2,959 3,001 -- 26,545 15,479 15,018 15,491 11,030 12,919 14,282 15,220 15,588 15,469 16,096 16,995 17,632 17,632 Machinery, Furniture, Equipment
72.53 71.00 -- 1,197 2,686 1,084 1,885 2,704 3,402 5,603 6,802 3,716 2,831 2,971 3,006 4,265 4,265 Construction In Progress
5,968 6,090 6,220 30,042 20,546 21,788 23,379 25,975 31,007 58,965 64,161 64,954 63,463 64,796 71,105 73,357 73,357 Gross Property, Plant and Equipment
-2,769 -3,001 -3,121 -4,327 -4,544 -5,593 -6,594 -7,526 -10,008 -11,564 -18,624 -33,688 -40,170 -41,802 -43,095 -43,773 -43,773 Accumulated Depreciation
3,199 3,089 3,099 25,715 16,002 16,195 16,785 18,449 20,999 47,401 45,537 31,266 23,293 22,994 28,010 29,584 29,584 Property, Plant and Equipment
-- -- -- 6,577 364 347 328 325 334 2,296 334 316 305 307 398 402 402 Intangible Assets
-- -- -- 6,105 -- -- -- -- -- 1,916 -- -- -- -- -- -- -- Goodwill
428 439 140 2,466 1,754 2,021 2,422 2,591 3,178 3,626 3,430 7,206 2,981 3,113 3,028 2,605 2,605 Other Long Term Assets
5,087 5,550 5,390 40,661 23,353 25,996 29,386 32,070 35,440 63,473 58,674 46,577 37,317 37,302 42,216 40,809 40,809 Total Assets
387 574 789 1,195 1,164 890 1,272 1,353 1,568 2,144 2,439 2,251 1,540 1,546 1,661 1,654 1,654 Accounts Payable
-- -- -- 420 163 607 800 255 185 326 547 224 156 712 274 198 198 Total Tax Payable
526 933 953 2,089 1,507 2,024 2,804 2,348 2,471 3,744 4,187 3,089 2,301 2,875 2,785 2,655 2,655 Accounts Payable & Accrued
Expense
78.21 253 19.00 31.00 67.00 16.00 95.00 4.00 2.00 312 478 649 1,232 1,414 17.00 49.00 49.00 Current Portion of Long-Term Debt
33.02 57.00 -- -- -- 54.00 180 69.00 94.00 115 105 41.00 82.00 91.00 35.00 -- -- Current Deferred Revenue
-- -- -- 171 78.00 201 61.00 103 384 -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
33.02 57.00 -- 171 78.00 255 241 172 478 115 105 41.00 82.00 91.00 35.00 -- -- DeferredTaxAndRevenue
60.22 126 1.00 1,578 1,506 707 623 416 392 602 402 528 650 534 492 505 505 Other Current Liabilities
698 1,369 973 3,869 3,158 3,002 3,763 2,940 3,343 4,773 5,172 4,307 4,265 4,914 3,329 3,209 3,209 Total Current Liabilities
1,874 1,003 661 7,180 7,284 6,330 4,660 3,533 3,525 20,394 18,371 19,675 14,795 11,815 11,124 9,821 9,821 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 204 204 Capital Lease Obligation
1,874 1,003 661 7,180 7,284 6,330 4,660 3,533 3,525 20,394 18,371 19,675 14,795 11,815 11,124 10,025 10,025 Long-Term Debt & Capital Lease
Obligation
1.68 0.68 0.28 0.40 1.27 0.70 0.38 0.23 0.20 0.99 1.03 2.60 2.65 1.66 1.14 1.08 1.08 Debt to Equity
-- -- -- -- -- -- -- 1,316 1,340 1,225 1,430 1,260 1,345 1,154 1,174 1,318 1,318 PensionAndRetirementBenefit
932 902 800 7,300 2,339 2,503 2,873 3,383 3,597 7,497 6,555 3,719 3,935 3,954 4,262 4,465 4,465 NonCurrent Deferred Liabilities
219 223 213 1,239 1,328 1,638 2,056 2,911 3,768 4,297 4,187 4,216 3,206 3,319 8,094 8,150 8,150 Minority Interest
200 210 298 2,839 3,471 3,404 3,530 2,345 2,324 4,353 4,672 5,572 3,720 4,169 4,344 Other Long-Term Liabilities
4,435 4,344
3,704 3,484 2,732 21,188 16,252 15,239 14,826 13,517 14,129 38,242 36,200 34,533 28,060 26,006 24,324 23,361 23,361 Total Liabilities
28.50 30.00 31.00 50.00 51.00 98.00 107 107 107 117 117 137 157 158 158 158 158 Common Stock
1,100 1,100 1,100 3,975 3,707 2,875 -- -- -- -- -- -- -- -- -- -- -- Preferred Stock
605 1,086 1,415 3,601 -8,267 -5,805 -2,590 546 2,399 2,742 128 -12,387 -16,540 -14,722 -12,041 -12,280 -12,280 Retained Earnings
11.34 11.00 -20.00 42.00 -305 -273 -323 -465 -506 -405 -544 -503 -548 -487 -605 -676 -676 Accumulated other comprehensive
income (loss)
1,853 2,212 2,668 13,407 13,989 15,637 18,751 19,007 19,119 22,161 22,281 24,283 26,690 26,751 26,013 25,830 25,830 Additional Paid-In Capital
-2,434 -2,596 -2,749 -2,841 -3,402 -3,413 -3,441 -3,553 -3,576 -3,681 -3,695 -3,702 -3,708 -3,723 -3,727 -3,734 -3,734 Treasury Stock
1,164 1,843 2,445 18,234 5,773 9,119 12,504 15,642 17,543 20,934 18,287 7,828 6,051 7,977 9,798 9,298 9,298 Total Equity
0.23 0.33 0.45 0.45 0.25 0.35 0.43 0.49 0.50 0.33 0.31 0.17 0.16 0.21 0.23 0.23 0.23 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FCX 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
202 995 1,457 2,977 -10,450 3,534 5,544 5,747 3,980 3,441 -745 -12,089 -3,827 2,038 2,909 -192 -192 Net Income
202 995 1,457 2,977 -10,450 3,534 5,544 5,747 3,980 3,441 -745 -12,089 -3,827 2,038 2,909 -192 -192 Net Income From Continuing
Operations
215 260 233 1,309 1,871 1,137 1,036 1,022 1,179 2,797 3,863 3,497 2,610 1,714 1,754 1,412 1,412 Depreciation, Depletion and
Amortization
-236 -253 197 428 542 -962 -680 1,246 -365 49.00 215 813 -175 427 649 119 119 Change In Receivables
-91.74 -108 -146 272 -478 -159 -593 -431 -729 -288 -249 379 117 -169 -537 259 259 Change In Inventory
34.30 -0.05 -27.00 21.00 -91.00 -- -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
97.78 216 71.00 424 -938 264 463 -1,219 -247 -164 -598 -882 108 567 -740 -89.00 -89.00 Change In Payables And Accrued
Expense
-131 179 -113 1,034 -965 -770 -937 -723 -1,686 -808 -865 195 97.00 797 -656 349 349 Change In Working Capital
76.25 -32.00 16.00 -288 -4,653 135 286 523 269 277 -929 -2,039 239 -317 139 59.00 59.00 Change In DeferredTax
-- -- -- 144 98.00 102 121 117 100.00 173 106 85.00 86.00 71.00 76.00 63.00 63.00 Stock Based Compensation
-21.37 151 273 1,049 615 259 223 -66.00 -68.00 259 -1,271 308 215 323 -359 -209 -209 Cash Flow from Others
341 1,553 1,866 6,225 3,370 4,397 6,273 6,620 3,774 6,139 5,631 3,220 3,737 4,666 3,863 1,482 1,482 Cash Flow from Operations
-141 -143 -251 -1,755 -2,708 -1,587 -1,412 -2,534 -3,494 -5,286 -7,215 -6,353 -2,813 -1,410 -1,971 -2,652 -2,652 Purchase Of Property, Plant,
Equipment
39.89 7.00 34.00 260 47.00 25.00 -- -- -- -- -- -- 2,272 -- -- -- 91.00 Sale Of Property, Plant, Equipment
-- -- -- -13,910 -1.00 -- -500 -- -- -5,441 -1,426 -- -- -- -3,500 -- -- Purchase Of Business
-- -- -- 597 -- -- -- -- -- -- 1,709 -- 996 -- 457 452 -- Sale Of Business
-- -- -2.00 -- -- -- -500 -- -- -- -- -- -- -- -- -- -- Purchase Of Investment
21.80 -- -- -- 430 -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Investment
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -10.00 Net Intangibles Purchase And Sale
15.34 2.00 -4.00 -53.00 -86.00 -39.00 543 -1.00 31.00 -181 3,131 107 3,098 89.00 -4.00 97.00 468 Cash From Other Investing Activities
-63.97 -134 -223 -14,861 -2,318 -1,601 -1,869 -2,535 -3,463 -10,908 -3,801 -6,246 3,553 -1,321 -5,018 -2,103 -2,103 Cash Flow from Investing
1,070 5.00 15.00 2,816 -- 740 -- -- -- -- -- 1,936 1,515 -- 3,500 -- -- Issuance of Stock
-995 -80.00 -100.00 -- -500 -- -- -- -- -- -- -- -- -- -- -- -- Repurchase of Stock
-- -- -- -- -- -- -- -- -- -228 -- -- -- -- -- -- -- Net Issuance of Preferred Stock
-17.50 -493 -291 8,358 124 -1,050 -1,654 -1,265 -157 6,025 -1,596 1,595 -3,944 -2,857 -2,085 -1,318 -1,318 Net Issuance of Debt
-246 -638 -976 -596 -948 -229 -980 -1,423 -1,129 -2,281 -1,305 -605 -6.00 -2.00 -218 -291 -291 Cash Flow for Dividends
-1.57 -- -147 -1,223 -482 -473 -688 -313 -142 -467 -450 -140 -731 -196 -297 53.00 53.00 Other Financing
-190 -1,206 -1,499 9,355 -1,806 -1,012 -3,322 -3,001 -1,428 3,049 -3,351 2,786 -3,166 -3,055 900 -1,556 -1,556 Cash Flow from Financing
87.80 213 144 719 -754 1,784 1,082 1,084 -1,117 -1,720 -1,521 -240 4,124 290 -255 -2,177 -2,177 Net Change in Cash
-141 -143 -251 -1,755 -2,708 -1,587 -1,412 -2,534 -3,494 -5,286 -7,215 -6,353 -2,813 -1,410 -1,971 -2,652 -2,652 Capital Expenditure
200 1,410 1,615 4,470 662 2,810 4,861 4,086 280 853 -1,584 -3,133 924 3,256 1,892 -1,170 -1,170 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FCX 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
44.99 11.55 8.41 13.79 -- 28.78 13.15 7.71 10.75 14.30 -- -- -- 15.29 6.74 -- -- PE Ratio(TTM)
34.02 9.45 8.59 10.08 -- 24.22 17.60 10.04 47.63 16.92 -- -- -- -- 29.46 -- -- Price to Owner Earnings
(TTM)
107 13.52 8.16 2.75 4.87 5.53 4.54 2.23 1.85 1.87 1.33 1.08 3.15 3.44 1.52 2.05 1.64 Price to Book
107 13.52 8.16 5.11 5.91 5.86 4.66 2.28 1.89 2.10 1.35 1.12 3.32 3.58 1.59 2.14 1.71 Price to Tangible Book
33.49 8.33 7.64 9.32 17.94 15.47 11.73 8.60 117 46.59 -- -- 20.17 8.48 7.94 -- -- Price-to-Free-Cash-Flow
Ratio
20.08 7.56 6.61 6.75 3.23 9.38 9.09 5.31 8.65 6.27 4.33 2.25 4.68 5.91 3.89 12.86 10.29 Price-to-Operating-Cash-
Flow Ratio
2.98 2.78 2.13 2.39 0.61 2.60 3.00 1.68 1.81 1.82 1.22 0.49 1.18 1.68 0.81 1.32 1.06 PS Ratio
-- 2.26 0.38 0.37 -- 0.97 1.49 2.23 -- -- -- -- -- -- -- -- -- PEG Ratio
4.03 2.84 2.08 2.89 1.21 2.84 3.15 1.75 2.00 2.97 2.34 2.19 2.30 2.41 1.61 2.45 2.18 EV-to-Revenue
10.57 4.87 3.85 6.27 -2.00 5.67 5.98 3.60 5.26 7.56 12.77 -3.30 -318 7.29 4.55 15.07 13.45 EV-to-EBITDA
13.87 5.45 4.16 7.50 -1.70 6.67 6.67 4.00 6.35 11.45 -241 -2.44 -12.53 10.66 6.19 38.06 33.95 EV-to-EBIT
7.21 18.35 24.04 13.33 -58.82 14.99 14.99 25.00 15.75 8.73 -0.41 -40.98 -7.98 9.38 16.16 2.63 2.95 Return on Capital %
1.99 10.55 26.54 25.45 75.33 37.43 14.85 13.68 6.05 4.07 -0.61 -- -- -- -- -- 9.28 Forward Rate of Return
44.54 43.92 30.72 40.96 -- -- 279 55.28 36.33 32.47 23.81 -- -- -- 23.01 47.97 38.39 Shiller PE Ratio
2.22 1.86 2.24 1.22 7.42 -- 0.75 2.72 3.48 3.32 5.36 6.84 -- -- 1.45 1.52 1.90 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6,845 10,050 10,979 39,235 10,061 34,529 56,747 34,877 32,456 39,174 24,271 8,435 19,060 27,454 14,939 19,036 15,235 Market Cap
9,564 11,865 12,065 50,034 21,575 42,732 59,820 36,503 36,046 62,192 46,843 32,798 34,048 39,476 29,957 35,240 31,439 Enterprise Value
19.12 26.90 27.87 51.22 12.22 40.15 60.05 36.79 34.20 37.74 23.36 6.77 13.19 18.96 10.31 13.12 10.50 Month End Stock Price
-9.42 -7.88 -5.17 -27.16 -20.29 -16.54 -13.91 -12.24 -14.95 -39.07 -38.42 -30.96 -18.70 -17.13 -19.46 -20.33 -20.33 Net Cash (per share)
-9.95 -7.45 -4.81 -26.76 -19.50 -14.32 -7.44 -6.73 -8.01 -31.37 -30.17 -25.11 -14.42 -12.91 -15.15 -16.26 -16.26 Net Current Asset Value
(per share)
-11.10 -8.68 -6.12 -29.26 -22.57 -16.76 -10.25 -9.50 -11.81 -35.40 -35.16 -28.93 -16.86 -15.01 -17.48 -18.54 -18.54 Net-Net Working Capital (per
share)
11.03 17.06 28.66 39.65 32.06 29.53 44.36 44.92 43.13 36.60 31.35 12.54 5.06 5.03 7.78 5.33 5.33 Projected FCF (per share)
10.33 15.93 21.55 36.44 40.71 34.71 48.04 53.78 46.47 49.14 40.99 26.35 19.53 18.48 20.23 14.33 14.33 Median PS (per share)
-- 11.88 74.29 92.75 -386 61.75 39.83 -- -- -- -- -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
1.30 10.22 15.96 28.91 -- 15.03 36.40 41.69 36.08 32.66 -- -- -- 12.01 16.16 -- -- Graham Number (per share)
-0.51 5.67 11.62 3.96 4.64 12.79 25.60 30.92 27.00 7.58 -8.08 -51.97 -55.71 -50.79 -39.66 -34.68 -34.68 Earnings Power Value
(EPV)
2.29 4.11 5.85 2.22 -1.09 2.64 4.08 3.43 2.74 1.39 0.81 -0.78 0.14 1.03 0.99 0.63 0.54 Altman Z-Score
5.00 7.00 8.00 5.00 5.00 7.00 9.00 6.00 4.00 4.00 4.00 2.00 7.00 7.00 8.00 4.00 4.00 Piotroski F-Score
-1.76 -2.29 -3.08 2.14 -2.43 -1.01 -2.39 -3.07 -2.33 -2.41 -1.94 -4.52 -1.13 -3.43 -2.87 -1.68 -1.68 Beneish M-Score
0.59 0.50 0.44 4.65 0.33 0.62 0.60 0.59 0.66 1.24 0.64 0.55 0.45 0.54 0.67 0.60 0.62 Scaled Net Operating
Assets
-1.48 -7.64 -3.45 28.56 -51.89 -0.18 -0.23 1.48 7.70 11.74 -5.28 -19.69 -31.10 -4.10 8.90 0.94 0.94 Sloan Ratio (%)
2.09 1.48 2.21 1.53 1.66 2.48 2.62 3.42 3.08 2.09 1.75 1.73 2.45 2.16 3.14 2.47 2.47 Current Ratio
1.42 1.06 1.47 0.78 0.78 1.52 1.71 2.10 1.71 1.04 0.71 0.79 1.59 1.32 1.79 1.20 1.20 Quick Ratio
22.23 27.68 36.05 58.93 62.93 43.66 60.05 60.92 46.73 37.74 39.04 23.66 16.21 19.27 19.99 14.20 14.68 Highest Stock Price
14.29 16.03 21.88 25.25 8.40 11.07 29.09 29.87 30.81 26.82 21.03 6.12 3.74 11.21 9.78 8.51 8.43 Lowest Stock Price
2.39 -4.37 -5.44 -94.45 -7.49 -4.45 -9.88 -0.32 -0.11 -9.38 -0.10 -19.92 -15.97 -0.21 -0.07 -0.13 -0.13 Shares Buyback Ratio (%)
-7.75 47.78 38.25 62.83 9.18 -31.16 24.75 9.31 -13.66 10.16 -7.43 -29.87 -16.65 0.26 13.25 -22.31 -22.42 YoY Rev. per Sh. Growth
(%)
-12.37 449 41.97 13.12 -496 110 212 4.60 -33.26 -17.24 -148 -798 72.06 140 42.40 -110 -111 YoY EPS Growth (%)
-28.49 123 28.28 40.92 -242 157 31.24 0.78 -32.44 13.88 -56.83 -362 99.12 4,700 21.34 -64.37 -64.38 YoY EBITDA Growth (%)
-3.38 5.10 22.41 37.59 53.93 29.57 8.85 3.45 -1.62 -2.16 -8.69 -- -- -- -- -- -- EBITDA 5-Y Growth (%)
365 361 382 682 764 829 915 947 949 1,002 1,039 1,082 1,318 1,447 1,449 1,451 1,451 Shares Outstanding (Basic
Average)
358 374 394 766 823 860 945 948 949 1,038 1,039 1,246 1,445 1,448 1,449 1,451 1,451 Shares Outstanding (EOP)
1.13 1.22 2.13 2.17 2.52 1.81 1.85 1.63 2.32 2.24 1.54 2.30 3.14 3.31 2.06 1.81 1.75 Beta
03/16/05 03/15/06 02/28/07 02/29/08 02/26/09 02/26/10 02/25/11 02/27/12 02/22/13 02/27/14 02/27/15 02/26/16 02/24/17 02/20/18 02/15/19 02/14/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FCX 6/7
03/16/05 02/28/07 02/29/08 02/26/09 02/26/10 02/25/11 02/22/13 02/27/14 02/27/15 02/26/16 02/24/17 02/20/18 02/15/19 02/14/20 02/14/20 02/14/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/FCX 7/7
Merck & Co Inc (NYSE:MRK) 03/02/2020 4:10PM EST GuruFocus
Price: $ 81.37 +4.81(+6.28%) Market Cap: $ 206.38 B Enterprise Value: $222.37 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 21.36
Cash to Debt 0.40 Operating margin (%) 26.14
Forward P/E N/A
Equity to Asset 0.31 Net-margin (%) 21.01
PE(NRI) 21.36
Interest Coverage 13.72 ROE (%) 36.55
F-Score:
P/B 8.00
ROA (%) 11.81
8 P/S 4.48
Z-Score: ROC (Joel Greenblatt) (%) 84.55
4.01 PFCF 21.01
Revenue Growth (3Y)(%) 8.30
M-Score: POCF 15.59
-2.71 EBITDA Growth (3Y)(%) 16.90
EV-to-EBIT 18.00
WACC vs 2.69% EPS Growth (3Y)(%) 39.30
ROIC 23.51% Shiller P/E 36.70
WACC
ROIC Current Ratio 1.24
Quick Ratio 0.97
Days Inventory 156.98
Days Sales Outstanding 52.82
Warning Signs Quarterly Revenues Company Description
Long-Term Debt: Issuing new Mar Jun Sep Dec Full Year Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including
cardiovascular disease, asthma, cancer, and infections. Within cancer, the firm's immuno-oncology platform is growing
debt 2016 9,312 9,844 10,536 10,115 39,807 as a major contributor to overall sales. The company also has a substantial vaccine business, with treatments to
2017 9,434 9,930 10,325 10,433 40,122 prevent hepatitis B and pediatric diseases as well as HPV and shingles. Additionally, Merck sells animal health-related
Insider Sell: Insider Selling drugs. From a geographical perspective, close to 40% of the firm's sales are generated in the United States.... (Read
2018 10,037 10,465 10,794 10,998 42,294 More)
2019 10,816 11,760 12,397 11,868 46,841 Competitors: XSWX:NOVN, NYSE:PFE, NYSE:BMY, NYSE:ABBV, NYSE:LLY, NAS:AMGN, LSE:AZN,
Good Signs 2020 XPAR:SAN, NYSE:ACT, XSWX:RO, LSE:GSK, NAS:GILD, XTER:BAYA, NAS:CELG, TSE:4519, NAS:BIIB,
SHSE:600276, TSE:4568, TSE:4503, NYSE:JNJ
Piotroski F-Score: High Quarterly Earnings per Share
Insider Trades
Operating Margin %: Mar Jun Sep Dec Full Year
Expansion 2016 0.40 0.43 0.78 0.42 2.03
2017 0.56 0.71 -0.02 -0.32 0.93
PE Ratio: Close to 3-year low 2018 0.27 0.63 0.73 0.69 2.32
2019 1.12 1.03 0.74 0.92 3.81
DCF 2020
GuruFocus does not Quarterly Dividends Per Share
calculate intrinsic value: DCF Mar Jun Sep Dec Full Year
(Earnings Based) for 2016 0.46 0.46 0.46 0.47 1.85
companies with one star 2017 0.47 0.47 0.47 0.48 1.89
predictability or not rated. But 2018 0.48 0.48 0.48 0.55 1.99
you can go to each stock's 2019 0.55 0.55 0.55 0.61 2.26
DCF page to calculate 2020
yourself.
Growth Rate
Reverse DCF Annual Rates(per share) 10-Y 5-Y 12-M
GuruFocus does not Revenue Growth (%) 1.80 4.50 15.00
calculate reverse DCF growth EBITDA Growth (%) -0.30 -2.50 18.80
rate for companies with one Free Cash Flow Growth (%) 5.70 6.10 24.60
star predictability or not rated.
Book Value Growth (%) -5.90 -5.90 -1.20
But you can go to each
stock's DCF page to calculate EPS Growth (%) 3.10 1.10 64.20
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MRK 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
10.32 10.00 10.35 11.04 11.13 12.07 14.74 15.53 15.37 14.70 14.43 13.90 14.28 14.60 15.79 18.16 18.16 Revenue per Share
3.69 3.44 2.72 3.47 5.51 8.06 3.13 5.00 5.34 4.45 8.44 4.38 3.88 4.35 5.22 6.21 6.20 EBITDA per Share
3.04 2.66 1.69 2.56 4.75 6.93 0.76 2.60 3.07 2.12 6.15 2.14 1.92 2.65 3.54 4.79 4.79 EBIT per Share
2.62 2.10 2.03 -1.04 3.63 5.65 0.28 2.02 2.00 1.47 4.07 1.56 1.41 0.87 2.32 3.81 3.81 Earnings per Share (diluted)
2.62 2.10 2.03 -1.04 3.63 5.65 0.28 2.02 2.00 1.47 4.07 1.56 1.41 0.87 2.32 3.81 3.81 eps without NRI
3.20 2.71 2.17 1.68 2.36 4.93 2.27 3.34 2.71 3.00 5.64 2.94 1.37 -0.74 2.67 3.53 3.53 Owner Earnings per Share (TTM)
3.18 2.82 2.64 2.73 2.46 0.85 2.93 3.45 2.62 3.37 1.94 3.96 3.14 1.66 3.10 3.86 3.87 Free Cashflow per Share
1.50 1.52 1.52 1.52 1.52 1.52 1.52 1.56 1.69 1.73 1.77 1.81 1.85 1.89 1.99 2.26 2.26 Dividends per Share
7.83 8.24 8.10 8.37 8.90 19.00 17.64 17.93 17.52 17.00 17.14 16.06 14.58 12.73 10.30 10.18 10.18 Book Value per Share
7.03 7.50 7.00 7.37 7.97 -0.24 0.83 2.65 3.90 4.67 5.38 1.56 1.68 0.69 -1.80 -3.03 -3.03 Tangible Book per Share
3.11 3.71 3.15 2.64 2.96 5.62 5.80 5.76 6.80 8.56 7.54 9.50 9.04 9.05 9.69 10.35 10.35 Total Debt per Share
32.14 31.81 43.60 58.11 30.40 36.54 36.04 37.70 40.94 50.05 56.79 52.82 58.87 56.27 76.41 90.95 81.37 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
35.48 26.27 24.95 18.33 42.27 33.15 1.51 11.49 11.47 8.57 24.22 9.52 9.25 6.43 20.38 37.42 36.55 Return on Equity %
14.02 10.60 9.92 7.05 16.34 16.17 0.79 5.95 5.84 4.16 11.70 4.45 3.98 2.61 7.30 11.79 11.81 Return on Assets %
46.80 40.25 26.72 43.99 78.47 86.42 10.88 39.21 46.15 31.31 105 45.26 43.63 57.79 71.35 86.85 84.55 Return on Capital %
23.67 22.80 16.99 30.17 24.29 7.50 3.02 12.83 11.93 10.42 8.07 11.10 8.57 4.98 13.58 24.55 23.51 Return on Invested Capital %
7.70 6.41 8.83 10.09 7.45 8.98 7.05 5.00 3.54 5.65 5.44 6.10 6.68 6.54 5.57 3.46 2.69 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 4.19 3.88 4.04 3.93 3.75 3.51 3.15 2.81 2.70 3.06 3.12 3.47 3.43 Effective Interest Rate on Debt %
78.38 76.61 73.49 74.62 76.59 67.12 60.00 64.89 65.21 61.50 60.30 62.19 64.75 67.82 68.06 69.87 69.87 Gross Margin %
29.42 26.62 16.29 23.22 25.51 14.66 7.30 18.68 20.90 17.41 15.82 19.11 13.81 16.94 21.12 26.13 26.14 Operating Margin %
25.38 21.04 19.59 13.54 32.74 47.03 1.87 13.05 13.05 10.00 28.22 11.25 9.85 5.97 14.71 21.01 21.01 Net Margin %
30.79 28.19 25.56 24.75 22.11 7.04 19.88 22.19 17.07 22.95 13.43 28.50 22.01 11.37 19.64 21.28 21.28 FCF Margin %
0.40 0.45 0.39 0.32 0.33 0.30 0.33 0.32 0.39 0.50 0.44 0.59 0.62 0.71 0.94 1.02 1.02 Debt to Equity
0.41 0.40 0.39 0.38 0.40 0.53 0.51 0.52 0.50 0.47 0.50 0.44 0.42 0.39 0.32 0.31 0.31 Total Equity to Total Asset
0.16 0.18 0.15 0.12 0.13 0.16 0.17 0.17 0.19 0.24 0.22 0.26 0.26 0.28 0.30 0.31 0.31 Total Debt to Total Asset
43.31 38.58 37.21 38.87 38.24 23.08 25.30 29.56 29.18 25.57 24.99 24.58 26.16 29.70 33.76 39.19 39.27 Gross Profit to Total Asset %
0.55 0.50 0.51 0.52 0.50 0.34 0.42 0.46 0.45 0.42 0.41 0.40 0.40 0.44 0.50 0.56 0.56 Asset Turnover
0.57 0.72 0.75 -- 0.42 0.27 5.43 0.77 0.85 1.18 0.44 1.16 1.31 2.17 0.86 0.59 0.59 Dividend Payout Ratio
57.64 48.54 53.45 54.85 44.50 87.87 58.29 62.76 59.24 59.55 57.26 59.92 64.35 62.53 61.02 52.82 52.82 Days Sales Outstanding
30.97 33.39 30.20 37.12 40.38 90.81 45.79 43.77 38.91 48.96 57.14 61.91 73.03 87.69 89.65 96.68 96.68 Days Accounts Payable
164 126 104 108 130 205 138 131 142 137 128 126 124 141 142 148 157 Days Inventory
190 141 127 126 134 202 151 150 162 148 129 124 116 116 114 104 113 Cash Conversion Cycle
2.23 2.90 3.50 3.36 2.81 1.78 2.64 2.78 2.57 2.66 2.84 2.91 2.93 2.59 2.56 2.47 2.33 Inventory Turnover
0.22 0.23 0.27 0.25 0.23 0.33 0.40 0.35 0.35 0.39 0.40 0.38 0.35 0.32 0.32 0.30 0.30 COGS to Revenue
0.10 0.08 0.08 0.08 0.08 0.19 0.15 0.13 0.14 0.15 0.14 0.13 0.12 0.12 0.13 0.12 0.13 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MRK 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
22,973 22,012 22,636 24,198 23,850 27,428 45,987 48,047 47,267 44,033 42,237 39,498 39,807 40,122 42,294 46,840 46,841 Revenue
4,966 5,150 6,001 6,141 5,583 9,019 18,396 16,871 16,446 16,954 16,768 14,934 14,030 12,912 13,509 14,112 14,112 Cost of Goods Sold
18,007 16,862 16,635 18,057 18,267 18,409 27,591 31,176 30,821 27,079 25,469 24,564 25,777 27,210 28,785 32,728 32,729 Gross Profit
78.38 76.61 73.49 74.62 76.59 67.12 60.00 64.89 65.21 61.50 60.30 62.19 64.75 67.82 68.06 69.87 69.87 Gross Margin %
7,239 7,156 8,165 7,557 7,377 8,543 13,125 13,733 12,776 11,911 11,606 10,313 10,017 10,074 10,102 10,615 10,615 Selling, General, & Admin. Expense
4,010 3,848 4,783 4,883 4,805 5,845 11,111 8,467 8,168 7,503 7,180 6,704 10,261 10,339 9,752 9,872 9,872 Research & Development
-0.00 -0.00 0.00 0.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Other Operating Expense
6,758 5,859 3,687 5,618 6,085 4,021 3,355 8,976 9,877 7,665 6,683 7,547 5,499 6,797 8,931 12,241 12,242 Operating Income
29.42 26.62 16.29 23.22 25.51 14.66 7.30 18.68 20.90 17.41 15.82 19.11 13.81 16.94 21.12 26.13 26.14 Operating Margin %
-- -- -- -- 631 210 83.00 145 232 264 266 289 328 385 343 274 274 Interest Income
-- -- -- -- -251 -460 -715 -695 -714 -801 -732 -672 -693 -754 -772 -893 -892 Interest Expense
-- -- -- -- 380 -250 -632 -550 -482 -537 -466 -383 -365 -369 -429 -619 -618 Net Interest Income
1,245 1,505 2,535 -2,247 3,466 11,519 -1,070 -1,092 -656 -1,583 11,066 -1,763 -475 93.00 199 -158 -160 Other Income (Expense)
-154 -122 -121 -121 -124 -123 -121 -120 -131 -113 -14.00 -17.00 -21.00 -24.00 27.00 66.00 66.00 Other Income (Minority Interest)
8,003 7,364 6,221 3,371 9,931 15,290 1,653 7,334 8,739 5,545 17,283 5,401 4,659 6,521 8,701 11,464 11,464 Pre-Tax Income
-2,173 -2,733 -1,788 -95.30 -1,999 -2,268 -671 -942 -2,440 -1,028 -5,349 -942 -718 -4,103 -2,508 -1,687 -1,688 Tax Provision
27.15 37.11 28.73 2.83 20.13 14.83 40.59 12.84 27.92 18.54 30.95 17.44 15.41 62.92 28.82 14.72 14.72 Tax Rate %
5,830 4,631 4,434 3,275 7,932 13,022 982 6,392 6,299 4,517 11,934 4,459 3,941 2,418 6,193 9,777 9,776 Net Income (Continuing Operations)
5,830 4,631 4,434 3,275 7,808 12,899 861 6,272 6,168 4,404 11,920 4,442 3,920 2,394 6,220 9,843 9,842 Net Income
25.38 21.04 19.59 13.54 32.74 47.03 1.87 13.05 13.05 10.00 28.22 11.25 9.85 5.97 14.71 21.01 21.01 Net Margin %
-- -- -- -- -- 2.10 -- 15.00 -- -- -- -- -- -- -- -- -- Preferred dividends
2.63 2.11 2.04 -1.04 3.65 5.67 0.28 2.04 2.03 1.49 4.12 1.58 1.42 0.88 2.34 3.84 3.84 EPS (Basic)
2.62 2.10 2.03 -1.04 3.63 5.65 0.28 2.02 2.00 1.47 4.07 1.56 1.41 0.87 2.32 3.81 3.81 EPS (Diluted)
2,226 2,200 2,188 2,193 2,143 2,273 3,120 3,094 3,076 2,996 2,928 2,841 2,787 2,748 2,679 2,580 2,559 Shares Outstanding (Diluted
Average)
1,451 1,708 2,268 1,988 1,631 2,576 7,381 7,427 6,978 6,988 6,691 6,375 5,471 4,676 4,519 3,652 3,652 Depreciation, Depletion and
Amortization
8,209 7,567 5,955 7,606 11,813 18,326 9,749 15,456 16,431 13,334 24,706 12,448 10,823 11,951 13,992 16,009 16,008 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MRK 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,879 9,585 5,915 5,336 4,368 9,311 10,900 13,531 13,451 15,621 7,441 8,524 6,515 6,092 7,965 9,676 9,676 Cash And Cash Equivalents
4,211 6,052 2,798 2,895 1,118 293 1,301 1,441 2,690 1,865 8,278 4,903 7,826 2,406 899 774 774 Marketable Securities
7,090 15,638 8,713 8,231 5,486 9,604 12,201 14,972 16,141 17,486 15,719 13,427 14,341 8,498 8,864 10,450 10,450 Cash, Cash Equivalents,
Marketable Securities
3,628 2,927 3,315 3,636 2,908 6,603 7,344 8,261 7,672 7,184 6,626 6,484 7,018 6,873 7,071 6,778 6,778 Accounts Receivable
2,167 2,012 1,689 1,732 -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Raw Materials &
Components
-740 -754 -416 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Inventories
Adjustments
377 400 404 383 -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Finished Goods
94.70 -0.00 92.80 -234 2,091 8,048 5,868 6,254 6,535 6,226 5,571 4,700 4,866 5,096 5,440 5,978 5,978 Inventories, Other
1,899 1,658 1,769 1,881 2,091 8,048 5,868 6,254 6,535 6,226 5,571 4,700 4,866 5,096 5,440 5,978 5,978 Total Inventories
859 826 1,433 1,297 8,628 4,177 3,651 3,694 4,509 4,789 4,689 5,140 4,389 4,299 4,500 4,277 4,277 Other Current Assets
13,475 21,049 15,230 15,045 19,113 28,432 29,064 33,181 34,857 35,685 32,605 29,751 30,614 24,766 25,875 27,483 27,483 Total Current Assets
-- -- -- -- 6,491 432 2,175 3,458 7,305 9,770 13,515 13,039 11,416 12,125 6,233 1,469 1,469 Investments And Advances
367 433 409 406 386 667 658 623 591 550 541 490 412 365 333 343 343 Land And Improvements
8,874 9,480 9,746 10,048 9,767 12,231 11,945 12,733 13,196 13,627 13,101 12,154 11,439 11,726 11,486 11,989 11,989 Buildings And Improvements
11,926 12,785 13,172 13,554 13,104 16,158 15,894 16,919 17,188 17,106 16,050 14,261 14,053 14,649 14,441 15,394 15,394 Machinery, Furniture, Equipment
1,642 1,016 882 796 871 1,818 2,066 2,198 2,440 1,811 1,448 1,525 1,871 2,301 3,355 5,013 5,013 Construction In Progress
22,809 23,713 24,210 24,803 24,128 30,874 30,563 32,473 33,415 33,094 31,140 28,430 27,775 29,041 29,615 32,739 32,739 Gross Property, Plant and
Equipment
-8,095 -9,315 -11,015 -12,457 -12,129 -12,595 -13,481 -16,176 -17,385 -18,121 -18,004 -15,923 -15,749 -16,602 -16,324 -17,686 -17,686 Accumulated Depreciation
14,714 14,398 13,194 12,346 12,000 18,279 17,082 16,297 16,030 14,973 13,136 12,507 12,026 12,439 13,291 15,053 15,053 Property, Plant and Equipment
1,765 1,604 2,376 2,168 1,964 59,795 51,834 46,457 41,217 36,102 33,378 40,325 35,467 32,467 31,357 33,621 33,621 Intangible Assets
-- 1,086 1,432 1,455 1,439 12,038 12,378 12,155 12,134 12,301 12,992 17,723 18,162 18,284 18,253 19,425 19,425 Goodwill
12,619 7,794 13,770 18,791 7,628 5,376 5,626 5,735 6,723 9,115 5,533 6,055 5,854 6,075 5,881 6,771 6,771 Other Long Term Assets
42,573 44,846 44,570 48,351 47,196 112,314 105,781 105,128 106,132 105,645 98,167 101,677 95,377 87,872 82,637 84,397 84,397 Total Assets
421 471 497 625 618 2,244 2,308 2,023 1,753 2,274 2,625 2,533 2,807 3,102 3,318 3,738 3,738 Accounts Payable
-- -- -- -- 1,426 1,167 1,243 781 1,200 251 1,237 1,560 2,239 708 1,971 736 736 Total Tax Payable
5,710 5,749 7,150 9,159 12,022 14,055 13,241 14,255 14,033 13,347 15,693 16,618 16,636 15,557 16,898 18,610 18,610 Accounts Payable & Accrued
Expense
2,181 2,972 1,285 1,824 2,297 1,379 2,400 1,990 4,315 4,521 2,704 2,583 568 3,057 5,308 3,610 3,610 Current Portion of Long-Term Debt
3,853 4,522 4,288 1,275 -- 207 -- -- -- -- -- -- -- -- -- -- -- Other Current Liabilities
11,744 13,242 12,723 12,258 14,319 15,641 15,641 16,245 18,348 17,868 18,397 19,201 17,204 18,614 22,206 22,220 22,220 Total Current Liabilities
4,692 5,126 5,551 3,916 3,943 16,095 15,482 15,525 16,254 20,539 18,699 23,829 24,274 21,353 19,806 22,736 22,736 Long-Term Debt
4,692 5,126 5,551 3,916 3,943 16,095 15,482 15,525 16,254 20,539 18,699 23,829 24,274 21,353 19,806 22,736 22,736 Long-Term Debt & Capital Lease
Obligation
0.40 0.45 0.39 0.32 0.33 0.30 0.33 0.32 0.39 0.50 0.44 0.59 0.62 0.71 0.94 1.02 1.02 Debt to Equity
6,442 6,093 6,330 11,585 7,767 19,093 17,853 16,415 5,740 6,776 4,467 6,535 5,077 2,219 1,702 1,470 1,470 NonCurrent Deferred Liabilities
2,407 2,407 2,406 2,407 2,409 2,427 2,429 2,426 2,443 2,561 144 91.00 220 233 181 94.00 Minority Interest
94.00
-- 0.00 -0.00 -- -0.00 -- -- -- 10,327 8,136 7,813 7,345 8,514 11,117 12,041 11,970 11,970 Other Long-Term Liabilities
22,878 24,461 24,604 27,759 26,029 50,829 48,976 48,185 50,669 53,319 49,376 56,910 55,069 53,303 55,755 58,396 58,396 Total Liabilities
29.80 29.80 29.80 29.80 29.80 1,781 1,788 1,788 1,788 1,788 1,788 1,788 1,788 1,788 1,788 1,788 1,788 Common Stock
36,626 37,980 39,095 39,141 43,699 41,405 37,536 38,990 39,985 39,257 46,021 45,348 44,133 41,350 42,579 46,602 46,602 Retained Earnings
-45.90 52.30 -1,164 -826 -2,554 -2,767 -3,216 -3,132 -4,682 -2,197 -4,323 -4,148 -5,226 -4,910 -5,545 -6,193 -6,193 Accumulated other comprehensive
income (loss)
6,870 6,900 7,167 8,015 8,319 39,683 40,701 40,663 40,646 40,508 40,423 40,222 39,939 39,902 38,808 39,660 39,660 Additional Paid-In Capital
-26,192 -26,984 -27,567 -28,175 -30,736 -21,044 -22,433 -23,792 -24,717 -29,591 -35,262 -38,534 -40,546 -43,794 -50,929 -55,950 -55,950 Treasury Stock
17,288 17,978 17,560 18,185 18,758 59,058 54,376 54,517 53,020 49,765 48,647 44,676 40,088 34,336 26,701 25,907 25,907 Total Equity
0.41 0.40 0.39 0.38 0.40 0.53 0.51 0.52 0.50 0.47 0.50 0.44 0.42 0.39 0.32 0.31 0.31 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MRK 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5,813 4,631 4,434 3,275 7,932 13,022 982 6,392 6,299 4,517 11,934 4,459 3,941 2,418 6,193 9,777 9,777 Net Income
-- -- -- -- -- -- -- -- -- 140 -- 876 -- -- -- -- -- Net Foreign Currency Exchange
Gain
5,813 4,631 4,434 3,275 7,932 13,022 982 6,392 6,299 4,517 11,934 4,459 3,941 2,418 6,193 9,777 9,777 Net Income From Continuing
Operations
1,451 1,708 2,268 1,988 1,631 2,576 7,381 7,427 6,978 6,988 6,691 6,375 5,471 4,676 4,519 3,652 3,652 Depreciation, Depletion and
Amortization
173 346 -709 -291 -889 165 -1,089 -1,168 349 436 -554 -480 -619 297 -418 294 -- Change In Receivables
332 126 227 -40.70 -452 1,211 1,990 -678 -482 -365 79.00 805 206 -145 -911 -508 -- Change In Inventory
-324 63.60 16.40 118 -2,176 -4,413 287 1,349 -1,053 -1,296 2,207 -311 -1,616 -3,959 716 -1,584 -- Change In Payables And Accrued
Expense
1,522 1,181 -137 1,356 -3,983 -2,703 930 -766 -4,136 -794 1,824 -268 -2,601 -5,017 -1,553 -2,067 -2,067 Change In Working Capital
48.90 9.00 -530 -1,782 530 1,821 -1,092 -1,537 669 -330 -2,600 -764 -1,521 -2,621 -509 -556 -556 Change In DeferredTax
-- -- -- -- 348 415 509 369 335 276 278 299 300 312 348 417 417 Stock Based Compensation
-35.40 79.60 731 2,162 114 -11,739 -329 -207 -323 232 -11,360 2,275 838 6,037 1,628 1,177 1,177 Cash Flow from Others
8,799 7,609 6,765 6,999 6,572 3,392 10,822 12,383 10,022 11,654 7,989 12,538 10,376 6,451 10,922 13,440 13,440 Cash Flow from Operations
-1,726 -1,403 -980 -1,011 -1,298 -1,461 -1,678 -1,723 -1,954 -1,548 -2,317 -1,283 -1,614 -1,888 -2,615 -3,473 -3,473 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -12,973 -256 -373 -- -246 -3,881 -7,744 -780 -396 -431 -4,954 -- Purchase Of Business
-- -- -- -- 1,899 -- -- 498 -- 46.00 15,120 316 -- -- -- -- -- Sale Of Business
-82,256 -125,308 -19,591 -10,133 -11,967 -3,071 -7,197 -7,325 -12,841 -17,991 -24,944 -16,681 -15,651 -10,739 -7,994 -3,202 -3,202 Purchase Of Investment
82,364 128,981 16,144 10,860 11,066 14,942 5,208 6,149 7,783 16,298 15,533 20,413 14,353 15,664 15,252 8,622 8,622 Sale Of Investment
-- -- -- -- -- -- -- -- -- -- -1,000 -- -- -- -- -- -- Net Intangibles Purchase And Sale
-19.40 -3.10 -456 -2,527 -1,534 5,719 426 -116 207 293 1,115 221 482 38.00 102 378 -4,576 Cash From Other Investing Activities
-1,638 2,267 -4,884 -2,810 -1,834 3,156 -3,497 -2,890 -6,805 -3,148 -374 -4,758 -3,210 2,679 4,314 -2,629 -2,629 Cash Flow from Investing
240 137 370 899 102 -- -- -- -- -- -- -- -- --
-- -- -- Issuance of Stock
-2,475 -1,015 -1,002 -1,430 -2,725 -- -1,593 -1,921 -2,591 -6,516 -7,703 -4,186 -3,434 -4,014 -9,091 -4,780 -4,780 Repurchase of Stock
115 1,281 -1,274 -1,184 468 1,781 748 -471 3,164 4,533 -3,931 3,492 -1,307 -1,129 837 1,248 1,248 Net Issuance of Debt
-3,311 -3,350 -3,323 -3,307 -3,401 -3,479 -4,853 -4,811 -5,236 -5,277 -5,247 -5,117 -5,124 -5,167 -5,172 -5,695 -5,695 Cash Flow for Dividends
-162 -93.10 -375 156 135 60.00 257 299 1,396 1,270 1,639 424 821 304 266 366 366 Other Financing
-5,591 -3,040 -5,604 -4,866 -5,523 -1,638 -5,441 -6,904 -3,267 -5,990 -15,242 -5,387 -9,044 -10,006 -13,160 -8,861 -8,861 Cash Flow from Financing
1,678 6,707 -3,671 -579 -968 4,943 1,589 2,631 -80.00 2,170 -8,180 1,083 -2,009 -419 1,871 1,967 1,967 Net Change in Cash
-1,726 -1,403 -980 -1,011 -1,298 -1,461 -1,678 -1,723 -1,954 -1,548 -2,317 -1,283 -1,614 -1,888 -2,615 -3,473 -3,473 Capital Expenditure
7,073 6,206 5,785 5,988 5,274 1,931 9,144 10,660 8,068 10,106 5,672 11,255 8,762 4,563 8,307 9,967 9,967 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MRK 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.22 15.08 21.48 -- 8.37 6.48 133 18.57 18.95 34.28 13.85 33.86 29.00 60.73 32.94 23.87 21.36 PE Ratio(TTM)
10.05 11.72 20.09 34.59 12.90 7.41 15.87 11.30 15.08 16.68 10.08 17.97 43.10 -- 28.67 25.75 23.04 Price to Owner Earnings
(TTM)
4.11 3.86 5.38 6.94 3.42 1.92 2.04 2.10 2.34 2.94 3.31 3.29 4.04 4.42 7.42 8.94 8.00 Price to Book
4.57 4.24 6.23 7.88 3.82 -- 43.68 14.22 10.50 10.72 10.56 33.77 35.02 81.20 -- -- -- Price to Tangible Book
10.12 11.27 16.45 21.20 12.37 50.26 12.28 10.93 15.60 14.80 29.61 13.31 18.71 33.84 24.58 23.48 21.01 Price-to-Free-Cash-Flow
Ratio
8.13 9.19 14.06 18.14 9.92 26.93 10.38 9.41 12.56 12.84 20.92 11.95 15.80 23.93 18.70 17.42 15.59 Price-to-Operating-Cash-
Flow Ratio
3.11 3.18 4.21 5.25 2.73 3.08 2.45 2.43 2.66 3.40 3.94 3.80 4.12 3.85 4.84 5.01 4.48 PS Ratio
-- -- -- -- 4.78 0.47 7.86 1.94 46.22 -- -- 2.66 100.00 -- -- -- -- PEG Ratio
3.19 2.92 4.20 5.21 2.82 4.52 2.59 2.49 2.77 3.56 3.95 4.05 4.33 4.18 5.07 5.28 4.75 EV-to-Revenue
8.91 8.49 15.96 16.59 5.69 6.76 12.22 7.73 7.96 11.75 6.76 12.85 15.94 14.05 15.33 15.46 13.89 EV-to-EBITDA
10.83 10.96 25.78 22.46 6.60 7.86 50.31 14.88 13.83 24.69 9.27 26.34 32.24 23.08 22.65 20.03 18.00 EV-to-EBIT
9.23 9.12 3.88 4.45 15.15 12.72 1.99 6.72 7.23 4.05 10.79 3.80 3.10 4.33 4.42 4.99 5.56 Return on Capital %
8.64 3.21 -1.87 -5.29 11.07 20.04 23.52 16.15 6.52 1.42 3.65 18.61 5.43 -0.29 -3.59 -1.66 -1.30 Forward Rate of Return
12.04 11.40 15.13 21.92 11.15 12.00 13.08 14.32 16.42 21.67 23.73 22.80 25.37 21.63 31.08 41.02 36.70 Shiller PE Ratio
4.67 4.78 3.49 2.62 5.00 4.16 4.22 4.14 4.13 3.46 3.12 3.43 3.14 3.36 2.60 2.48 2.78 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
70,986 69,407 94,516 126,244 64,074 113,574 111,079 114,640 123,911 146,523 161,178 146,899 161,818 151,738 198,098 231,557 206,376 Market Cap
73,175 64,274 95,045 126,159 67,237 123,871 119,189 119,609 130,782 156,658 167,006 159,975 172,539 167,883 214,529 247,547 222,366 Enterprise Value
32.14 31.81 43.60 58.11 30.40 36.54 36.04 37.70 40.94 50.05 56.79 52.82 58.87 56.27 76.41 90.95 81.37 Month End Stock Price
-8.24 -5.15 -8.44 -10.10 -10.89 -14.04 -12.72 -11.72 -12.22 -13.11 -11.91 -15.67 -14.90 -16.70 -18.16 -18.87 -18.87 Net Cash (per share)
-5.35 -2.67 -5.43 -6.96 -4.42 -7.99 -7.25 -5.73 -6.03 -6.90 -5.96 -9.80 -8.98 -10.67 -11.60 -12.18 -12.18 Net Current Asset Value
(per share)
-6.58 -3.76 -6.89 -8.41 -9.36 -11.16 -9.98 -8.65 -9.23 -10.21 -9.18 -13.07 -12.10 -13.85 -15.06 -15.70 -15.70 Net-Net Working Capital
(per share)
32.47 35.05 35.55 35.56 35.88 39.28 35.19 40.75 38.97 37.80 38.72 43.66 42.73 38.21 37.43 38.39 38.39 Projected FCF (per share)
49.71 48.06 48.14 50.59 48.27 47.78 50.89 52.14 47.73 44.80 44.92 45.16 46.40 47.50 56.31 70.16 70.16 Median PS (per share)
-- -- -- -- -- 77.04 4.59 19.47 14.99 25.22 -- 19.87 -- -- -- -- -- Peter Lynch Fair Value (per
share)
20.35 18.83 17.89 -- 25.51 -- 2.28 10.98 13.25 12.42 22.20 7.41 7.30 3.68 -- -- -- Graham Number (per share)
24.83 26.40 27.00 24.62 23.76 15.56 15.63 21.44 23.32 24.16 26.16 27.76 24.85 18.15 17.27 19.98 19.98 Earnings Power Value
(EPV)
4.27 4.13 4.57 4.66 4.11 2.70 2.52 2.85 2.92 2.99 3.82 2.88 3.18 3.18 3.80 4.27 4.01 Altman Z-Score
6.00 5.00 4.00 7.00 7.00 5.00 5.00 9.00 4.00 5.00 5.00 6.00 6.00 7.00 7.00 8.00 8.00 Piotroski F-Score
-3.12 -3.32 -2.61 -2.38 -3.02 -1.09 -2.60 -2.67 -2.71 -2.80 -2.89 -2.80 -2.73 -2.72 -2.79 -2.71 -2.71 Beneish M-Score
0.48 0.30 0.40 0.41 0.45 1.47 0.56 0.56 0.57 0.56 0.52 0.59 0.50 0.53 0.49 0.51 0.50 Scaled Net Operating
Assets
-3.13 -11.69 5.73 -1.89 6.50 5.65 -6.11 -3.06 2.78 -3.88 4.39 -3.28 -3.40 -7.67 -10.91 -1.15 -1.15 Sloan Ratio (%)
1.15 1.59 1.20 1.23 1.33 1.82 1.86 2.04 1.90 2.00 1.77 1.55 1.78 1.33 1.17 1.24 1.24 Current Ratio
0.99 1.46 1.06 1.07 1.19 1.30 1.48 1.66 1.54 1.65 1.47 1.30 1.50 1.06 0.92 0.97 0.97 Quick Ratio
49.08 34.93 46.34 60.77 60.55 38.00 41.03 37.90 47.96 50.18 61.88 63.03 64.96 66.58 79.34 91.74 92.64 Highest Stock Price
26.00 25.85 31.81 42.94 23.56 20.99 31.82 29.81 37.18 40.85 49.49 48.42 48.59 54.10 53.27 72.92 72.23 Lowest Stock Price
0.59 1.21 0.65 -0.22 2.98 -47.47 0.84 1.34 0.47 3.27 3.05 2.01 1.16 1.90 3.86 1.80 1.80 Shares Buyback Ratio (%)
3.39 -3.04 3.43 6.65 0.85 8.43 22.14 5.36 -1.05 -4.35 -1.85 -3.62 2.73 2.22 8.13 15.00 14.98 YoY Rev. per Sh. Growth
(%)
-11.78 -19.85 -3.33 -151 449 55.65 -95.04 621 -0.99 -26.50 177 -61.67 -9.62 -38.30 167 64.22 64.22 YoY EPS Growth (%)
-15.94 -6.73 -20.85 27.41 58.94 46.26 -61.24 59.84 6.95 -16.68 89.58 -48.07 -11.39 12.00 20.10 18.80 18.63 YoY EBITDA Growth (%)
-0.10 -6.27 -8.90 -10.48 1.75 13.66 16.99 9.59 0.41 -3.68 -1.35 12.74 0.29 -5.17 -7.25 -4.78 -2.50 EBITDA 5-Y Growth (%)
2,219 2,197 2,178 2,171 2,136 2,268 3,095 3,071 3,041 2,963 2,894 2,816 2,766 2,730 2,664 2,565 2,544 Shares Outstanding (Basic
Average)
2,209 2,182 2,168 2,173 2,108 3,108 3,082 3,041 3,027 2,928 2,838 2,781 2,749 2,697 2,593 2,546 2,536 Shares Outstanding (EOP)
0.72 0.45 0.80 1.09 0.93 0.91 0.68 0.55 0.31 0.51 0.63 0.76 0.83 0.84 0.57 0.27 0.26 Beta
03/09/05 02/28/06 02/28/07 02/29/08 02/27/09 03/01/10 02/28/11 02/28/12 02/28/13 02/27/14 02/27/15 02/26/16 02/28/17 02/27/18 02/27/19 02/26/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MRK 6/7
02/28/06 02/28/07 02/29/08 02/27/09 02/28/11 02/28/12 02/28/13 02/27/14 02/27/15 02/26/16 02/28/17 02/27/18 02/27/19 02/26/20 02/26/20 02/26/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MRK 7/7
Schlumberger Ltd (NYSE:SLB) 03/02/2020 4:10PM EST GuruFocus
Price: $ 27.79 +0.70(+2.58%) Market Cap: $ 38.58 B Enterprise Value: $52.12 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.14 Operating margin (%) 9.14
P/B 1.62
Equity to Asset 0.42 Net-margin (%) -30.80
P/S 1.17
Interest Coverage 4.93 ROE (%) -32.53
F-Score:
PFCF 10.39
ROA (%) -15.56
5 POCF 7.10
Z-Score: ROC (Joel Greenblatt) (%) -80.18
1.25 EV-to-EBIT -5.31
Revenue Growth (3Y)(%) 5.10
M-Score: Shiller P/E 16.93
-2.85 EPS Growth (3Y)(%) -80.70
Current Ratio 1.19
WACC vs 10.60%
ROIC 6.41% Quick Ratio 0.87
WACC
ROIC Days Inventory 53.63
Days Sales Outstanding 85.90
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Schlumberger Ltd is the world's largest supplier of products and services to the oil and gas industry. The company
ROIC vs. WACC: Return on
operates its business via multiple groups: Reservoir Characterization, Drilling, Production, and Cameron. The firm is
invested capital is less than 2016 6,520 7,164 7,019 7,107 27,810 investing more than any other services firm to make its offerings more bundled, which it believes is likely to be one of
weighted average cost of 2017 6,894 7,462 7,905 8,179 30,440 the key industry trends during the next 10 years. Its efforts on this front are most visible via its Schlumberger
Production Management (SPM) business, which now accounts for 10% of its revenue.... (Read More)
capital. 2018 7,829 8,303 8,504 8,179 32,815
Competitors: OTCPK:WFTLF, NYSE:BKR, NYSE:HAL , MIL:TEN, SHSE:601808 , NYSE:NOV, XPAR:FTI,
2019 7,879 8,269 8,541 8,228 32,917 XAMS:VPK, SZSE:002353, ASX:WOR, XKLS:7277, SHSE:600583, MIL:SPM, OSL:AKER, SHSE:600968,
2020 XPAR:GTT, XAMS:SBMO, OSL:SUBC, OSL:TGS, SHSE:600339
Good Signs
Quarterly Earnings per Share Insider Trades
Dividend Yield %: Close to
10-year high Mar Jun Sep Dec Full Year
2016 0.40 -1.56 0.13 -0.15 -1.18
Price: Close to 10-year low 2017 0.20 -0.05 0.39 -1.63 -1.09
PS Ratio: Close to 10-year 2018 0.38 0.31 0.46 0.39 1.54
low 2019 0.30 0.35 -8.22 0.24 -7.33
2020
Insider Buy: Insider Buying
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
2016 0.50 0.50 0.50 0.50 2.00
EPS without NRI: $-7.33 2017 0.50 0.50 0.50 0.50 2.00
Growth Rate in the next 10 2018 0.50 0.50 0.50 0.50 2.00
years: 5% 2019 0.50 0.50 0.50 0.50 2.00
Terminal Growth Rate for 10 2020
years: 4%
Fair Value: $-78.44 Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Reverse DCF Revenue Growth (%) 0.00 -7.30 0.90
Expected eps Growth Rate: EBITDA Growth (%) 0.00 0.00 -192.60
inf% Free Cash Flow Growth (%) 3.60 -15.10 4.90
Book Value Growth (%) 1.30 1.30 -34.40
EPS Growth (%) 0.00 0.00 -578.40
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLB 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9.37 11.64 15.48 18.81 22.19 18.70 21.12 26.88 31.17 33.96 37.14 27.82 20.49 21.93 23.56 23.77 23.68 Revenue per Share
2.36 3.34 5.20 7.15 7.65 5.46 6.41 7.05 8.18 9.72 9.25 5.73 2.03 2.32 4.85 -4.49 -4.51 EBITDA per Share
1.29 2.25 3.94 5.57 5.80 3.42 4.23 4.64 5.45 6.81 6.12 2.53 -0.98 -0.45 2.30 -7.08 -7.09 EBIT per Share
1.02 1.82 3.01 4.20 4.45 2.59 3.38 3.67 4.10 5.05 4.16 1.63 -1.24 -1.08 1.53 -7.32 -7.33 Earnings per Share (diluted)
0.85 1.81 3.01 4.20 4.42 2.61 3.37 3.32 3.91 5.10 4.31 1.63 -1.24 -1.08 1.53 -7.32 -7.33 eps without NRI
0.52 1.61 2.84 3.76 3.96 2.73 3.14 2.44 2.93 5.79 4.35 1.94 -0.66 -0.38 2.40 -6.28 -6.28 Owner Earnings per Share (TTM)
0.56 1.15 1.86 2.50 2.36 2.40 2.04 1.59 1.77 5.06 5.54 4.83 3.10 2.56 2.55 2.68 2.67 Free Cashflow per Share
0.38 0.42 0.50 0.70 0.84 0.84 0.84 1.00 1.10 1.25 1.60 2.00 2.00 2.00 2.00 2.00 2.00 Dividends per Share
5.20 6.42 8.85 12.42 14.10 16.00 22.94 23.44 26.16 30.19 29.68 28.36 29.52 26.62 26.15 17.16 17.16 Book Value per Share
2.53 3.68 3.84 7.37 9.08 10.91 8.90 9.17 11.57 15.34 13.89 12.30 4.48 1.71 1.81 0.45 0.45 Tangible Book per Share
3.96 3.71 5.08 4.56 4.42 4.59 5.95 7.45 8.76 10.08 10.45 15.12 14.10 13.15 11.61 11.05 11.05 Total Debt per Share
33.48 48.58 63.16 98.37 42.33 65.09 83.50 68.31 69.30 90.11 85.41 69.75 83.95 67.39 36.08 40.20 27.79 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
20.40 32.20 41.19 40.93 34.25 17.42 16.95 15.99 16.63 18.14 14.07 5.64 -4.40 -3.86 5.86 -33.83 -32.53 Return on Equity %
6.79 12.95 18.14 20.43 18.16 9.58 10.01 9.34 9.40 10.47 8.12 3.07 -2.31 -2.01 3.00 -15.99 -15.56 Return on Assets %
32.00 65.26 87.03 82.67 63.31 33.34 43.35 39.96 34.79 40.70 36.91 16.59 -8.01 -4.31 25.01 -86.76 -80.18 Return on Capital %
13.03 24.76 33.21 33.12 30.10 17.17 13.18 13.34 14.36 15.52 16.07 9.62 3.62 6.70 5.28 6.69 6.41 Return on Invested Capital %
9.41 10.95 12.49 8.98 10.29 10.44 10.76 9.64 11.12 12.82 9.31 9.18 7.55 6.37 7.03 11.72 10.60 Weighted Average Cost Of Capital (WACC) %
-- -- -- 4.80 4.59 4.10 3.05 3.31 3.15 3.15 2.78 2.14 2.95 2.99 3.36 3.89 3.74 Effective Interest Rate on Debt %
21.10 25.65 31.29 33.56 30.21 24.04 20.90 21.26 21.20 21.95 23.02 20.17 12.23 12.80 13.22 12.75 12.77 Gross Margin %
13.82 19.30 25.46 27.86 25.05 18.16 16.29 17.22 17.46 18.44 19.53 15.69 7.14 8.80 9.72 9.13 9.14 Operating Margin %
10.66 15.42 19.29 22.21 20.01 13.80 16.00 13.66 13.16 14.87 11.19 5.84 -6.07 -4.94 6.52 -30.80 -30.80 Net Margin %
5.93 9.86 12.03 13.29 10.65 12.84 9.68 5.92 5.67 14.90 14.91 17.37 15.12 11.68 10.83 11.26 11.26 FCF Margin %
0.76 0.58 0.57 0.37 0.31 0.29 0.26 0.32 0.34 0.33 0.35 0.53 0.48 0.49 0.44 0.64 0.64 Debt to Equity
0.38 0.42 0.46 0.53 0.53 0.57 0.60 0.57 0.57 0.59 0.57 0.52 0.53 0.51 0.51 0.42 0.42 Total Equity to Total Asset
0.29 0.24 0.26 0.20 0.17 0.16 0.16 0.18 0.19 0.20 0.20 0.28 0.25 0.25 0.23 0.27 0.27 Total Debt to Total Asset
13.44 21.54 29.41 30.86 27.42 16.67 13.08 14.54 15.15 15.45 16.69 10.61 4.66 5.20 6.09 6.62 6.45 Gross Profit to Total Asset %
0.64 0.84 0.94 0.92 0.91 0.69 0.63 0.68 0.72 0.70 0.73 0.53 0.38 0.41 0.46 0.52 0.51 Asset Turnover
0.44 0.23 0.17 0.17 0.19 0.32 0.25 0.30 0.28 0.25 0.37 1.23 -- -- 1.31 -- -- Dividend Payout Ratio
84.69 86.31 80.51 83.98 84.09 97.88 -- 94.79 99.28 92.71 83.93 90.34 123 96.93 87.66 85.90 85.90 Days Sales Outstanding
120 122 106 107 101 37.95 45.83 42.95 39.40 42.92 42.40 41.80 59.87 63.45 60.35 60.88 60.89 Days Accounts Payable
32.57 31.39 31.18 34.01 34.24 40.05 49.05 53.88 52.64 48.49 45.05 54.03 59.67 56.87 51.63 51.73 53.63 Days Inventory
-2.86 -4.60 5.40 10.70 16.90 99.98 3.22 106 113 98.28 86.58 103 123 90.35 78.94 76.75 78.64 Cash Conversion Cycle
11.21 11.63 11.71 10.73 10.66 9.11 7.44 6.77 6.93 7.53 8.10 6.76 6.12 6.42 7.07 7.06 6.81 Inventory Turnover
0.79 0.74 0.69 0.66 0.70 0.76 0.79 0.79 0.79 0.78 0.77 0.80 0.88 0.87 0.87 0.87 0.87 COGS to Revenue
0.07 0.06 0.06 0.06 0.07 0.08 0.11 0.12 0.11 0.10 0.10 0.12 0.14 0.14 0.12 0.12 0.13 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLB 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11,480 14,309 19,230 23,302 27,163 22,702 26,672 36,579 41,731 45,266 48,580 35,475 27,810 30,440 32,815 32,917 32,917 Revenue
9,057 10,639 13,214 15,482 18,957 17,245 21,097 28,802 32,885 35,331 37,398 28,321 24,409 26,543 28,478 28,720 28,715 Cost of Goods Sold
2,423 3,670 6,016 7,820 8,206 5,457 5,575 7,777 8,846 9,935 11,182 7,154 3,401 3,897 4,337 4,197 4,202 Gross Profit
21.10 25.65 31.29 33.56 30.21 24.04 20.90 21.26 21.20 21.95 23.02 20.17 12.23 12.80 13.22 12.75 12.77 Gross Margin %
369 403 501 599 584 535 311 417 405 416 475 494 403 432 444 474 475 Selling, General, & Admin. Expense
467 506 619 728 819 802 919 1,061 1,153 1,174 1,217 1,094 1,012 787 702 717 718 Research & Development
0.00 -- -- 0.00 -- -3.00 -- -- -- -- -- -- -- -- -- -- -- Other Operating Expense
1,586 2,761 4,896 6,493 6,803 4,123 4,345 6,299 7,288 8,345 9,490 5,566 1,986 2,678 3,191 3,006 3,009 Operating Income
13.82 19.30 25.46 27.86 25.05 18.16 16.29 17.22 17.46 18.44 19.53 15.69 7.14 8.80 9.72 9.13 9.14 Operating Margin %
-- -- -- 162 412 61.00 50.00 40.00 30.00 33.00 51.00 52.00 110 128 60.00 41.00 40.00 Interest Income
-- -- -- -275 -247 -221 -207 -298 -340 -391 -369 -346 -570 -566 -575 -609 -610 Interest Expense
-- -- -- -113 165 -160 -157 -258 -310 -358 -318 -294 -460 -438 -515 -568 -570 Net Interest Income
-259 211 51.80 244 -116 -29.00 944 -23.00 -19.00 704 -1,533 -2,391 -3,431 -3,423 -52.00 -12,856 -12,856 Other Income (Expense)
-36.44 -90.81 -48.74 -- -25.00 -8.00 2.00 -10.00 -29.00 -42.00 -68.00 -63.00 -60.00 8.00 -39.00 -30.00 -31.00 Other Income (Minority Interest)
1,327 2,972 4,948 6,624 6,852 3,934 5,132 6,018 6,959 8,691 7,639 2,881 -1,905 -1,183 2,624 -10,418 -10,417 Pre-Tax Income
-277 -682 -1,190 -1,448 -1,430 -770 -879 -1,492 -1,700 -1,848 -1,928 -746 278 -330 -447 311 311 Tax Provision
20.86 22.95 24.04 21.86 20.87 19.57 17.13 24.79 24.43 21.26 25.24 25.89 14.59 -27.90 17.04 2.99 2.99 Tax Rate %
1,014 2,199 3,710 5,177 5,422 3,164 4,253 4,526 5,259 6,843 5,711 2,135 -1,627 -1,513 2,177 -10,107 -10,106 Net Income (Continuing Operations)
210 7.97 -- -- 38.00 -22.00 12.00 481 260 -69.00 -205 -- -- -- -- -- -- Net Income (Discontinued
Operations)
1,224 2,207 3,710 5,177 5,435 3,134 4,267 4,997 5,490 6,732 5,438 2,072 -1,687 -1,505 2,138 -10,137 -10,137 Net Income
10.66 15.42 19.29 22.21 20.01 13.80 16.00 13.66 13.16 14.87 11.19 5.84 -6.07 -4.94 6.52 -30.80 -30.80 Net Margin %
1.04 1.87 3.14 4.36 4.54 2.62 3.41 3.70 4.13 5.09 4.20 1.63 -1.24 -1.08 1.54 -7.32 -7.32 EPS (Basic)
1.02 1.82 3.01 4.20 4.45 2.59 3.38 3.67 4.10 5.05 4.16 1.63 -1.24 -1.08 1.53 -7.32 -7.33 EPS (Diluted)
1,226 1,230 1,242 1,239 1,224 1,214 1,263 1,361 1,339 1,333 1,308 1,275 1,357 1,388 1,393 1,385 1,385 Shares Outstanding (Diluted
Average)
1,308 1,351 1,561 1,954 2,269 2,476 2,757 3,274 3,647 3,879 4,094 4,078 4,094 3,837 3,556 3,589 3,589 Depreciation, Depletion and
Amortization
2,894 4,112 6,458 8,853 9,368 6,631 8,096 9,590 10,946 12,961 12,102 7,305 2,759 3,220 6,755 -6,220 -6,218 EBITDA
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
224 191 166 197 189 617 1,764 1,705 1,905 3,472 3,130 2,793 2,929 1,799 1,433 1,137 1,137 Cash And Cash Equivalents
2,774 3,305 2,833 2,972 3,503 3,999 3,226 3,122 4,369 4,898 4,371 10,241 6,328 3,290 1,344 1,030 1,030 Marketable Securities
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLB 3/7
2,997 3,496 2,999 3,169 3,692 4,616 4,990 4,827 6,274 8,370 7,501 13,034 9,257 5,089 2,777 2,167 2,167 Cash, Cash Equivalents, Marketable
Securities
2,664 3,384 4,242 5,361 6,258 6,088 -- 9,500 11,351 11,497 11,171 8,780 9,387 8,084 7,881 7,747 7,747 Accounts Receivable
812 976 1,186 1,359 1,674 1,646 1,833 2,066 2,519 2,539 2,666 2,300 1,720 1,846 1,803 1,857 1,857 Inventories, Raw Materials &
Components
59.00 96.00 127 145 136 74.00 249 364 349 261 273 178 610 503 519 515 515 Inventories, Work In Process
-125 -127 -157 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Inventories
Adjustments
74.00 65.45 91.00 134 109 146 1,722 2,270 1,917 1,803 1,689 1,278 1,895 1,697 1,688 1,758 1,758 Inventories, Finished Goods
-- -0.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
820 1,010 1,247 1,638 1,919 1,866 3,804 4,700 4,785 4,603 4,628 3,756 4,225 4,046 4,010 4,130 4,130 Total Inventories
579 664 698 887 1,026 1,080 1,026 1,512 1,746 1,755 1,394 1,342 1,058 1,278 1,063 1,486 1,486 Other Current Assets
7,060 8,554 9,186 11,055 12,894 13,650 18,098 20,539 24,156 26,225 24,694 26,912 23,927 18,497 15,731 15,530 15,530 Total Current Assets
-- -- -- 1,852 2,340 3,044 1,555 1,522 1,747 3,680 3,677 3,729 1,481 1,519 1,538 1,565 1,565 Investments And Advances
58.00 66.00 87.00 78.00 119 141 314 362 366 394 445 425 479 428 462 483 483 Land And Improvements
1,135 989 1,100 1,365 1,611 1,806 2,631 2,912 3,209 3,534 3,733 3,960 4,849 5,122 5,534 5,156 5,156 Buildings And Improvements
9,876 10,750 12,725 15,121 17,315 18,863 23,734 26,277 29,593 31,236 32,786 32,735 34,680 32,263 32,668 29,370 29,370 Machinery, Furniture, Equipment
-- -- -- 781 1,107 695 -- -- -- -- -- -- -- -- -- -- -- Construction In Progress
11,069 11,805 13,912 17,345 20,152 21,505 26,679 29,551 33,168 35,164 36,964 37,120 40,008 37,813 38,664 35,009 35,009 Gross Property, Plant and Equipment
-7,307 -7,604 -8,336 -9,337 -10,462 -11,845 -14,608 -16,558 -18,388 -20,068 -21,568 -23,705 -27,187 -26,237 -26,985 -25,739 -25,739 Accumulated Depreciation
3,762 4,201 5,576 8,008 9,690 9,660 12,071 12,993 14,780 15,096 15,396 13,415 12,821 11,576 11,679 9,270 9,270 Property, Plant and Equipment
3,136 3,242 5,896 6,045 6,009 6,091 19,114 19,036 19,387 19,415 20,141 20,174 34,845 34,472 33,658 23,131 23,131 Intangible Assets
-- -- 4,989 5,142 5,189 5,305 13,952 14,154 14,585 14,706 15,487 15,605 24,990 25,118 24,931 16,042 16,042 Goodwill
2,043 2,081 2,174 893 1,058 1,020 929 1,111 1,477 2,684 2,996 3,775 4,882 5,923 7,901 6,816 6,816 Other Long Term Assets
16,001 18,077 22,832 27,853 31,991 33,465 51,767 55,201 61,547 67,100 66,904 68,005 77,956 71,987 70,507 56,312 56,312 Total Assets
2,981 3,565 3,848 4,551 5,268 1,793 2,649 3,389 3,550 4,155 4,344 3,243 4,004 4,614 4,709 4,790 4,790 Accounts Payable
-- -- -- 1,072 1,007 878 1,493 1,245 1,426 1,490 1,647 1,203 1,188 1,223 1,155 1,209 1,209 Total Tax Payable
2,981 3,565 3,848 5,833 6,527 5,087 6,856 9,161 10,247 10,742 11,411 9,158 10,818 11,206 11,202 11,664 11,664 Accounts Payable & Accrued
Expense
716 797 1,322 1,672 1,597 1,125 2,595 1,377 2,121 2,783 2,765 4,557 3,153 3,324 1,407 524 524 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- 406 1,088 752 877 910 910 Current Deferred Revenue
-- -- -- -- -- -- -- -- -- -- -- 406 1,088 752 877 910 910 DeferredTaxAndRevenue
1,005 1,071 1,285 -0.00 -0.00 1,047 1,414 -- -- -- -- -- -- -- -- -- -- Other Current Liabilities
4,701 5,433 6,455 7,505 8,125 7,259 10,865 10,538 12,368 13,525 14,176 14,121 15,059 15,282 13,486 13,098 13,098 Total Current Liabilities
3,944 3,591 4,664 3,794 3,694 4,354 5,504 8,556 9,509 10,393 10,565 14,442 16,463 14,875 14,644 14,770 14,770 Long-Term Debt
3,944 3,591 4,664 3,794 3,694 4,354 5,504 8,556 9,509 10,393 10,565 14,442 16,463 14,875 14,644 14,770 14,770 Long-Term Debt & Capital Lease
Obligation
0.76 0.58 0.57 0.37 0.31 0.29 0.26 0.32 0.34 0.33 0.35 0.53 0.48 0.49 0.44 0.64 0.64 Debt to Equity
-- -- -- 840 2,369 1,660 1,262 1,732 2,169 670 1,501 1,434 1,495 1,082 1,153 967 967 PensionAndRetirementBenefit
-- -- -- -- -- -- 1,636 1,731 1,493 1,708 1,296 1,075 1,880 1,650 1,441 491 491 NonCurrent Deferred Liabilities
416 505 -- 61.88 71.92 109 218 129 107 166 199 272 451 419 424 416 416 Minority Interest
822 956 1,294 776 869 963 1,056 1,252 1,150 1,169 1,317 1,028 1,530 1,837 3,197 2,810 2,810 Other Long-Term Liabilities
9,468 9,981 12,412 12,916 15,056 14,236 20,323 23,809 26,689 27,465 28,855 32,100 36,427 34,726 33,921 32,136 32,136 Total Liabilities
2,454 2,751 -- 4,136 4,668 4,777 11,920 11,639 11,912 12,192 12,495 12,693 12,801 12,975 13,132 13,078 13,078 Common Stock
6,288 8,000 11,118 15,462 19,891 22,019 25,210 28,860 32,887 37,966 41,333 40,870 36,470 32,190 31,658 18,751 18,751 Retained Earnings
-941 -1,045 -1,169 -1,173 -2,901 -2,674 -2,768 -3,557 -3,888 -2,554 -4,206 -4,558 -4,643 -4,274 -4,622 -4,438 -4,438 Accumulated other comprehensive
income (loss)
-- -- 3,382 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Additional Paid-In Capital
-1,684 -2,113 -2,912 -3,549 -4,796 -5,002 -3,136 -5,679 -6,160 -8,135 -11,772 -13,372 -3,550 -4,049 -4,006 -3,631 -3,631 Treasury Stock
6,117 7,592 10,420 14,876 16,862 19,120 31,226 31,263 34,751 39,469 37,850 35,633 41,078 36,842 36,162 23,760 23,760 Total Equity
0.38 0.42 0.46 0.53 0.53 0.57 0.60 0.57 0.57 0.59 0.57 0.52 0.53 0.51 0.51 0.42 0.42 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLB 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,014 2,199 3,710 5,177 5,460 3,142 4,253 4,526 5,259 6,843 5,711 2,135 -1,627 -1,513 2,177 -10,107 -10,107 Net Income
1,014 2,199 3,710 5,177 5,460 3,142 4,253 4,526 5,259 6,843 5,711 2,135 -1,627 -1,513 2,177 -10,107 -10,107 Net Income From Continuing
Operations
1,308 1,351 1,561 1,954 2,269 2,476 2,757 3,274 3,647 3,879 4,094 4,078 4,094 3,837 3,556 3,589 3,589 Depreciation, Depletion and
Amortization
-415 -716 -861 -1,017 -944 155 -290 -1,402 -2,051 -803 -187 2,176 1,098 -124 430 142 142 Change In Receivables
-167 -180 -222 -356 -299 64.00 -50.00 -863 -645 188 -36.00 625 800 108 -10.00 -314 -314 Change In Inventory
-296 306 408 831 589 -654 401 90.00 1,001 688 68.00 -3,355 -1,790 -622 -927 -155 -155 Change In Payables And Accrued
Expense
-668 -382 -496 -844 -698 -218 28.00 -2,069 -1,995 164 -564 -276 -246 -319 -130 -327 -327 Change In Working Capital
6.77 30.48 4.60 21.87 -6.00 373 -130 -26.00 -76.00 -105 -- -- -- -260 -245 -1,011 -- Change In DeferredTax
-- -- -- 136 172 186 198 272 335 315 329 326 267 343 345 405 405 Stock Based Compensation
-- -- -- -- 63.38 -45.00 -- -- -- -- -- -- -- -- -- -- -- Cash Flow from Discontinued
Operations
185 -195 1.97 -157 -298 -603 -1,597 -97.00 -255 -1,014 -148 -33.00 -47.00 -189 -346 -266 11,871 Cash Flow from Others
1,897 3,004 4,781 6,287 6,962 5,311 5,494 6,169 7,060 10,688 11,219 8,572 6,261 5,663 5,713 5,431 5,431 Cash Flow from Operations
-1,216 -1,593 -2,468 -3,191 -4,068 -2,395 -2,912 -4,004 -4,694 -3,943 -3,976 -2,410 -2,055 -2,107 -2,160 -1,724 -1,724 Purchase Of Property, Plant,
Equipment
1,713 362 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -1,119 -345 -514 -1,101 -186 -845 -1,210 -1,008 -443 -2,398 -847 -292 -23.00 -23.00 Purchase Of Business
-- -- -- -- -- -- 399 -- -- -- -- -- -- -- 579 586 -- Sale Of Business
-- -707 -2,406 -88.82 -- -1,159 -- -- -1,600 -1,550 -740 -6,801 -1,031 -1,609 -981 -781 -781 Purchase Of Investment
1,368 -- 701 -- -- -- 1,023 351 -- -- 446 -- 5,544 3,277 1,943 317 317 Sale Of Investment
-- -- -- -- -345 -- -- -- -- -- -- -- -- -- -- -- -- Net Intangibles Purchase And Sale
-- -- -- -- -- -- -2.00 373 1,011 -28.00 -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-183 -107 -924 -230 -391 -2.00 -345 -59.00 -406 -176 -302 -598 -684 -493 -129 -386 200 Cash From Other Investing Activities
1,682 -2,044 -5,097 -4,628 -5,149 -4,070 -2,938 -3,525 -6,534 -6,907 -5,580 -10,252 -624 -1,779 -1,040 -2,011 -2,011 Cash Flow from Investing
278 -- 442 148 177 96.00 179 -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-320 -612 -1,068 -1,355 -1,819 -500 -1,717 -2,998 -972 -2,596 -4,678 -2,182 -778 -969 -400 -278 -378 Repurchase of Stock
-2,926 130 1,516 -201 470 108 933 1,773 1,636 1,450 -37.00 5,791 -2,377 -1,612 -2,048 -839 -839 Net Issuance of Debt
-441 -482 -568 -771 -964 -1,006 -1,040 -1,300 -1,432 -1,608 -1,968 -2,419 -2,647 -2,778 -2,770 -2,769 -2,769 Cash Flow for Dividends
-182 -27.03 -31.76 549 311 114 415 -175 429 555 787 184 374 326 198 168 168 Other Financing
-3,590 -991 291 -1,630 -1,825 -1,188 -1,409 -2,700 -339 -2,199 -5,896 1,374 -5,428 -5,033 -5,020 -3,718 -3,718 Cash Flow from Financing
-10.69 -32.55 -25.14 31.42 -14.00 53.00 1,147 -59.00 200 1,567 -342 -337 136 -1,130 -366 -296 -296 Net Change in Cash
-1,216 -1,593 -2,468 -3,191 -4,068 -2,395 -2,912 -4,004 -4,694 -3,943 -3,976 -2,410 -2,055 -2,107 -2,160 -1,724 -1,724 Capital Expenditure
681 1,411 2,314 3,096 2,894 2,916 2,582 2,165 2,366 6,745 7,243 6,162 4,206 3,556 3,553 3,707 3,707 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLB 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
32.82 26.84 20.98 23.48 9.51 25.03 24.70 18.56 16.86 17.81 20.63 43.32 -- -- 23.45 -- -- PE Ratio(TTM)
64.88 30.10 22.24 26.15 10.70 23.84 26.59 27.96 23.68 15.57 19.65 35.97 -- -- 15.06 -- -- Price to Owner Earnings
(TTM)
6.44 7.56 7.14 7.92 3.00 4.07 3.64 2.91 2.65 2.98 2.88 2.46 2.84 2.53 1.38 2.34 1.62 Price to Book
13.22 13.20 16.45 13.34 4.66 5.97 9.38 7.45 5.99 5.87 6.15 5.67 18.74 39.34 19.92 88.55 61.21 Price to Tangible Book
60.43 42.35 33.92 39.41 17.88 27.13 42.84 42.69 39.09 17.77 15.39 14.43 27.35 26.36 14.14 15.03 10.39 Price-to-Free-Cash-Flow
Ratio
21.59 19.90 16.40 19.41 7.43 14.89 19.50 15.04 13.13 11.22 9.94 10.38 18.31 16.55 8.80 10.27 7.10 Price-to-Operating-Cash-
Flow Ratio
3.56 4.12 4.08 5.23 1.91 3.48 3.97 2.50 2.22 2.65 2.30 2.51 4.11 3.08 1.53 1.70 1.17 PS Ratio
9.46 13.70 1.28 0.64 0.24 1.03 3.09 62.97 17.24 2.00 1.37 10.19 -- -- -- -- -- PEG Ratio
3.62 4.06 4.02 5.16 1.93 3.47 4.39 2.59 2.33 2.71 2.37 2.65 4.59 3.51 1.94 2.10 1.58 EV-to-Revenue
14.47 13.67 11.98 13.57 5.58 11.87 14.45 10.02 8.86 9.47 9.50 12.85 46.27 33.14 9.41 -11.13 -8.38 EV-to-EBITDA
26.61 19.94 15.80 17.42 7.37 18.95 21.92 15.20 13.25 13.52 14.35 29.10 -95.53 -174 19.87 -7.06 -5.31 EV-to-EBIT
3.76 5.02 6.33 5.74 13.57 5.28 4.56 6.58 7.55 7.40 6.97 3.44 -1.05 -0.58 5.03 -14.16 -18.83 Return on Capital %
5.73 3.30 17.97 21.46 24.02 23.07 10.64 3.54 4.00 11.66 18.29 9.72 -15.45 -23.04 -16.64 -- -7.28 Forward Rate of Return
64.09 76.63 74.55 86.20 29.01 37.95 41.67 28.87 22.56 25.09 22.05 18.11 24.36 22.91 13.71 24.49 16.93 Shiller PE Ratio
1.12 0.86 0.79 0.71 1.98 1.29 1.01 1.46 1.59 1.39 1.87 2.87 2.38 2.97 5.54 4.98 7.21 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
39,406 57,409 74,396 117,819 50,626 77,770 113,644 91,111 92,048 117,804 108,924 87,632 116,815 93,263 49,897 55,658 38,577 Market Cap
41,485 58,806 77,382 120,178 52,297 78,742 116,971 96,346 97,511 122,776 114,952 93,869 127,625 106,792 63,595 69,201 52,120 Enterprise Value
33.48 48.58 63.16 98.37 42.33 65.09 83.50 68.31 69.30 90.11 85.41 69.75 83.95 67.39 36.08 40.20 27.79 Month End Stock Price
-5.85 -5.92 -7.99 -8.19 -9.56 -8.14 -11.43 -14.33 -15.45 -14.73 -16.90 -15.39 -19.85 -21.72 -22.83 -21.95 -21.95 Net Cash (per share)
-2.40 -1.63 -2.74 -1.60 -1.87 -0.58 -1.80 -2.55 -1.99 -1.08 -3.42 -4.35 -9.31 -12.03 -13.46 -12.29 -12.29 Net Current Asset Value
(per share)
-3.81 -3.34 -4.76 -4.15 -4.84 -3.54 -10.03 -7.22 -7.24 -6.38 -8.52 -8.66 -13.27 -15.88 -17.10 -16.26 -16.26 Net-Net Working Capital (per
share)
8.15 10.10 16.13 28.62 34.84 39.76 43.89 41.45 44.34 58.21 69.59 59.36 56.50 55.85 56.61 46.29 46.29 Projected FCF (per share)
27.82 37.79 54.34 70.34 87.96 73.03 75.64 103 119 127 121 82.19 59.14 63.25 67.53 64.86 64.86 Median PS (per share)
8.65 -- 49.15 105 111 63.25 27.01 -- 44.70 45.02 62.22 -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
6.96 12.24 16.13 26.40 30.04 25.31 25.98 26.17 31.90 41.96 36.70 21.24 -- -- 7.90 -- -- Graham Number (per share)
-6.10 -6.05 0.16 2.71 11.54 15.09 13.25 12.26 10.75 13.22 17.22 18.92 11.11 0.37 -1.23 -2.30 -2.30 Earnings Power Value
(EPV)
4.21 5.62 5.98 8.02 4.65 5.52 5.06 4.30 4.12 4.71 4.44 3.38 3.02 2.69 2.16 1.57 1.25 Altman Z-Score
7.00 8.00 6.00 7.00 6.00 4.00 5.00 6.00 8.00 7.00 6.00 5.00 3.00 6.00 6.00 5.00 5.00 Piotroski F-Score
-2.66 -2.54 -2.43 -2.44 -2.44 -2.64 -3.11 -2.29 -2.45 -2.78 -2.83 -2.98 -2.15 -2.83 -2.70 -2.85 -2.85 Beneish M-Score
0.41 0.56 0.74 0.76 0.67 0.63 1.03 0.71 0.73 0.72 0.65 0.63 0.76 0.65 0.69 0.53 0.64 Scaled Net Operating
Assets
-14.72 6.90 17.63 12.63 11.32 5.66 3.31 4.26 8.07 4.40 -0.30 5.52 -9.40 -7.49 -3.60 -24.07 -24.07 Sloan Ratio (%)
1.50 1.57 1.42 1.47 1.59 1.88 1.67 1.95 1.95 1.94 1.74 1.91 1.59 1.21 1.17 1.19 1.19 Current Ratio
1.33 1.39 1.23 1.25 1.35 1.62 1.32 1.50 1.57 1.60 1.42 1.64 1.31 0.95 0.87 0.87 0.87 Quick Ratio
34.63 51.44 73.37 112 110 70.76 83.63 95.04 80.00 94.46 118 94.61 86.38 87.48 79.79 47.41 48.88 Highest Stock Price
26.35 31.74 48.58 56.52 37.74 35.19 51.75 57.72 59.67 69.30 79.90 67.34 61.06 61.31 35.19 30.71 25.45 Lowest Stock Price
-0.44 -0.40 0.33 -1.68 0.14 0.10 -13.91 2.00 0.41 1.58 2.45 1.49 -10.75 0.54 0.07 -0.11 -0.11 Shares Buyback Ratio (%)
9.67 24.24 33.04 21.52 17.97 -15.74 12.93 27.27 15.96 8.96 9.37 -25.09 -26.34 7.01 7.41 0.89 0.48 YoY Rev. per Sh. Growth
(%)
214 78.43 65.38 39.53 5.95 -41.80 30.50 8.58 11.72 23.17 -17.62 -60.82 -176 12.90 242 -578 -576 YoY EPS Growth (%)
29.80 41.63 55.47 37.47 7.09 -28.64 17.36 9.92 16.02 18.94 -4.84 -38.08 -64.51 14.12 109 -193 -193 YoY EBITDA Growth (%)
4.19 1.97 16.33 36.80 40.57 24.14 7.99 0.31 1.01 8.81 14.47 4.25 -20.29 -29.42 -27.61 -- -- EBITDA 5-Y Growth (%)
1,178 1,179 1,182 1,188 1,196 1,198 1,250 1,349 1,330 1,323 1,295 1,267 1,357 1,388 1,385 1,385 1,385 Shares Outstanding (Basic
Average)
1,177 1,182 1,178 1,198 1,196 1,195 1,361 1,334 1,328 1,307 1,275 1,256 1,391 1,384 1,383 1,385 1,385 Shares Outstanding (EOP)
1.11 1.24 1.43 0.89 1.46 1.19 1.31 1.39 1.72 1.80 1.33 1.34 0.97 0.87 1.11 2.07 2.06 Beta
03/04/05 02/24/06 02/16/07 02/13/08 02/11/09 02/05/10 02/17/15 02/15/12 01/31/13 01/31/14 01/29/15 01/27/16 01/25/17 01/24/18 01/23/19 01/22/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLB 6/7
02/24/06 02/16/07 02/13/08 02/11/09 02/04/11 02/17/15 01/31/13 01/31/14 01/29/15 01/27/16 01/25/17 01/24/18 01/23/19 01/22/20 01/22/20 01/22/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLB 7/7
AbbVie Inc (NYSE:ABBV) 03/02/2020 4:10PM EST GuruFocus
Price: $ 88.69 +2.98(+3.48%) Market Cap: $ 131.19 B Enterprise Value: $157.99 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 16.74
Cash to Debt 0.60 Operating margin (%) 40.19
Forward P/E N/A
Equity to Asset -0.09 Net-margin (%) 23.69
PE(NRI) 16.74
Interest Coverage 7.49 ROA (%) 12.25
F-Score:
P/S 3.94
ROC (Joel Greenblatt) (%) 352.60
8 PFCF 10.28
Z-Score: Revenue Growth (3Y)(%) 12.60
2.08 POCF 9.85
EBITDA Growth (3Y)(%) 9.90
M-Score: EV-to-EBIT 15.43
-2.74 EPS Growth (3Y)(%) 13.30
PEG 0.78
WACC vs 4.59%
ROIC 80.45% Current Ratio 3.18
WACC
ROIC Quick Ratio 3.06
Days Inventory 87.77
Days Sales Outstanding 59.56
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABBV 1/8
Warning Signs Quarterly Revenues Company Description
Dividend Payout Ratio: Too Mar Jun Sep Dec Full Year AbbVie is a drug company with a strong exposure to immunology and oncology. The company's top drug, Humira,
represents over half of the company's current profits. The company was spun off from Abbott in early 2013. The
high 2016 5,958 6,452 6,432 6,796 25,638 recent announced acquisition of Allergan will add several new drugs in aesthetics and women's health.... (Read More)
2017 6,538 6,944 6,995 7,739 28,216 Competitors: NYSE:LLY, NAS:AMGN, XPAR:SAN, LSE:GSK, LSE:AZN, NAS:GILD, NYSE:BMY, NAS:CELG,
Revenue per Share: Growth
2018 7,934 8,278 8,236 8,305 32,753 XTER:BAYA, XSWX:NOVN, NAS:BIIB, NYSE:MRK, TSE:4519, TSE:4568, TSE:4503, NYSE:PFE, TSE:4578,
slow down XMAD:GRF.P, XSWX:RO, HKSE:01093
2019 7,828 8,255 8,479 8,704 33,266
Dividend Yield %: Close to 1- 2020 Insider Trades
year low
Quarterly Earnings per Share
Price: Close to 1-year high
Mar Jun Sep Dec Full Year
PS Ratio: Close to 1-year high 2016 0.83 0.98 0.97 0.85 3.63
2017 1.06 1.19 1.01 0.03 3.29
Long-Term Debt: Issuing new
2018 1.74 1.26 1.81 -1.23 3.58
debt
2019 1.65 0.49 1.26 1.88 5.28
Operating Income: loss 2020
Tax Rate: Tax Rate is too low Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
Good Signs 2016 0.57 0.57 0.57 0.57 2.28
2017 0.64 0.64 0.64 0.64 2.56
Piotroski F-Score: High 2018 0.71 0.96 0.96 0.96 3.59
Operating Margin %: 2019 1.07 1.07 1.07 1.07 4.28
Expansion 2020
PE Ratio: Close to 5-year low Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
DCF Revenue Growth (%) 9.30 13.20 5.80
GuruFocus does not EBITDA Growth (%) 8.00 21.40 53.30
calculate intrinsic value: DCF Free Cash Flow Growth (%) 10.40 33.50 4.00
(Earnings Based) for
Book Value Growth (%) 0.00 0.00 0.00
companies with one star
predictability or not rated. But EPS Growth (%) 5.50 26.50 44.30
you can go to each stock's
DCF page to calculate
yourself.
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABBV 2/8
Per Share Data
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- 9.00 9.90 11.04 11.66 11.71 12.40 13.96 15.72 17.60 21.19 22.42 22.41 Revenue per Share
-- -- -- -- -- 3.67 3.81 3.13 4.43 4.07 2.23 5.01 6.21 6.47 5.38 8.24 8.24 EBITDA per Share
-- -- -- -- -- 3.23 3.06 2.32 3.70 3.51 1.74 4.50 5.48 5.54 4.23 6.88 6.88 EBIT per Share
-- -- -- -- -- 2.93 2.64 2.17 3.35 2.56 1.10 3.13 3.63 3.30 3.66 5.28 5.28 Earnings per Share (diluted)
-- -- -- -- -- 2.93 2.64 2.17 3.35 2.56 1.10 3.13 3.63 3.30 3.66 5.28 5.28 eps without NRI
-- -- -- -- -- -- -- -- -- -- -- 3.73 3.13 3.99 3.91 5.46 5.46 Owner Earnings per Share (TTM)
-- -- -- -- -- 3.20 2.87 3.73 3.81 3.60 1.82 4.28 4.02 5.88 8.27 8.61 8.61 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- 1.60 1.66 2.02 2.28 2.56 3.59 4.28 4.28 Dividends per Share
-- -- -- -- -- -- 9.94 7.55 2.13 2.83 1.10 2.45 2.91 3.20 -5.71 -5.51 -5.50 Book Value per Share
-- -- -- -- -- -- 3.68 1.85 -3.22 -2.32 -3.54 -17.97 -24.92 -24.02 -30.66 -28.59 -28.53 Tangible Book per Share
-- -- -- -- -- -- -- 0.03 9.92 9.28 9.41 19.67 23.14 23.47 27.26 44.97 44.87 Total Debt per Share
-- -- -- -- -- -- -- -- 34.16 52.81 65.44 59.24 62.62 96.71 92.19 88.54 88.69 Month End Stock Price
Ratios
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- 26.61 24.85 68.98 105 56.62 180 138 109 -- -- -- Return on Equity %
-- -- -- -- -- -- 19.77 16.89 22.67 14.69 6.26 12.77 9.99 7.76 8.74 10.62 12.25 Return on Assets %
-- -- -- -- -- -- 71.08 75.10 170 167 91.86 254 322 254 190 349 353 Return on Capital %
-- -- -- -- -- -- 27.69 29.74 50.26 45.60 31.90 33.47 23.14 20.03 26.38 58.93 80.45 Return on Invested Capital %
-- -- -- -- -- -- -- -- -- -- 11.88 10.30 9.26 9.10 9.44 5.56 4.59 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- 1.32 1.97 2.89 3.08 3.06 3.10 3.47 3.33 4.74 Effective Interest Rate on Debt %
-- -- -- -- -- 71.46 72.55 73.41 75.47 75.62 77.83 80.31 77.25 75.04 76.44 77.64 77.64 Gross Margin %
-- -- -- -- -- 35.89 32.17 24.61 33.22 31.94 18.85 33.63 37.21 34.99 20.78 40.19 40.19 Operating Margin %
-- -- -- -- -- 32.62 26.72 19.68 28.70 21.97 8.89 22.50 23.22 18.82 17.36 23.69 23.69 Net Margin %
-- -- -- -- -- 35.56 28.96 33.77 32.71 30.74 14.71 30.64 25.59 33.42 39.05 38.39 38.39 FCF Margin %
-- -- -- -- -- 9,999 -- 0.00 4.66 3.28 8.60 8.03 7.95 7.33 -4.77 -8.17 -8.17 Debt to Equity
-- -- -- -- -- -- 0.74 0.61 0.13 0.15 0.06 0.07 0.07 0.07 -0.14 -0.09 -0.09 Total Equity to Total Asset
-- -- -- -- -- -- -- 0.00 0.58 0.50 0.54 0.60 0.56 0.53 0.68 0.75 0.75 Total Debt to Total Asset
-- -- -- -- -- -- 53.68 62.99 59.63 50.56 54.78 45.58 33.25 30.94 38.47 34.79 40.13 Gross Profit to Total Asset %
-- -- -- -- -- -- 0.74 0.86 0.79 0.67 0.70 0.57 0.43 0.41 0.50 0.45 0.52 Asset Turnover
-- -- -- -- -- -- -- -- -- 0.63 1.51 0.65 0.63 0.78 0.98 0.81 0.81 Dividend Payout Ratio
-- -- -- -- -- -- 78.73 79.87 85.35 74.86 68.30 75.53 67.74 65.82 60.00 59.56 59.56 Days Sales Outstanding
-- -- -- -- -- -- 30.33 32.81 45.02 74.34 116 130 88.06 76.40 73.11 71.24 71.24 Days Accounts Payable
-- -- -- -- -- -- 71.10 67.20 79.47 89.28 93.77 115 98.98 79.02 75.90 83.85 87.77 Days Inventory
-- -- -- -- -- -- 120 114 120 89.80 46.53 61.30 78.66 68.44 62.79 72.17 76.09 Cash Conversion Cycle
-- -- -- -- -- -- 5.13 5.43 4.59 4.09 3.89 3.17 3.69 4.62 4.81 4.35 4.16 Inventory Turnover
-- -- -- -- -- 0.29 0.27 0.27 0.25 0.24 0.22 0.20 0.23 0.25 0.24 0.22 0.22 COGS to Revenue
-- -- -- -- -- -- 0.05 0.05 0.05 0.06 0.06 0.06 0.06 0.05 0.05 0.05 0.05 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABBV 3/8
Income Statement
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- 14,214 15,638 17,444 18,380 18,790 19,960 22,859 25,638 28,216 32,753 33,266 33,266 Revenue
-- -- -- -- -- 4,056 4,293 4,639 4,508 4,581 4,426 4,500 5,832 7,042 7,718 7,439 7,439 Cost of Goods Sold
-- -- -- -- -- 10,158 11,345 12,805 13,872 14,209 15,534 18,359 19,806 21,174 25,035 25,827 25,827 Gross Profit
-- -- -- -- -- 71.46 72.55 73.41 75.47 75.62 77.83 80.31 77.25 75.04 76.44 77.64 77.64 Gross Margin %
-- -- -- -- -- 3,349 3,820 5,894 4,989 5,352 7,724 6,387 5,881 6,295 7,399 6,942 6,942 Selling, General, & Admin. Expense
-- -- -- -- -- 1,707 2,495 2,618 2,778 2,855 3,297 4,285 4,385 5,007 10,329 6,407 6,407 Research & Development
-- -- -- -- -- -- -- -- -- -- 750 -- -- -- 500 -890 -890 Other Operating Expense
-- -- -- -- -- 5,102 5,030 4,293 6,105 6,002 3,763 7,687 9,540 9,872 6,807 13,368 13,368 Operating Income
-- -- -- -- -- 35.89 32.17 24.61 33.22 31.94 18.85 33.63 37.21 34.99 20.78 40.19 40.19 Operating Margin %
-- -- -- -- -- -- 28.00 20.00 20.00 21.00 38.00 33.00 82.00 146 204 275 275 Interest Income
-- -- -- -- -- -- -- -- -104 -299 -429 -719 -1,047 -1,150 -1,348 -1,784 -1,784 Interest Expense
-- -- -- -- -- -- 28.00 20.00 -84.00 -278 -391 -686 -965 -1,004 -1,144 -1,509 -1,509 Net Interest Income
-- -- -- -- -- 849 -222 -645 -296 -392 -1,003 -356 -691 -1,141 -466 -3,433 -3,433 Other Income (Expense)
-- -- -- -- -- 5,950 4,836 3,668 5,725 5,332 2,369 6,645 7,884 7,727 5,197 8,426 8,426 Pre-Tax Income
-- -- -- -- -- -1,314 -658 -235 -450 -1,204 -595 -1,501 -1,931 -2,418 490 -544 -544 Tax Provision
-- -- -- -- -- 22.08 13.61 6.41 7.86 22.58 25.12 22.59 24.49 31.29 -9.43 6.46 6.46 Tax Rate %
-- -- -- -- -- 4,637 4,178 3,433 5,275 4,128 1,774 5,144 5,953 5,309 5,687 7,882 7,882 Net Income (Continuing Operations)
-- -- -- -- -- 4,637 4,178 3,433 5,275 4,128 1,774 5,144 5,953 5,309 5,687 7,882 7,882 Net Income
-- -- -- -- -- 32.62 26.72 19.68 28.70 21.97 8.89 22.50 23.22 18.82 17.36 23.69 23.69 Net Margin %
-- -- -- -- -- 2.93 2.64 2.17 3.35 2.58 1.11 3.15 3.65 3.31 3.67 5.30 5.30 EPS (Basic)
-- -- -- -- -- 2.93 2.64 2.17 3.35 2.56 1.10 3.13 3.63 3.30 3.66 5.28 5.28 EPS (Diluted)
-- -- -- -- -- 1,580 1,580 1,580 1,577 1,604 1,610 1,637 1,631 1,603 1,546 1,484 1,487 Shares Outstanding (Diluted
Average)
-- -- -- -- -- 697 1,184 1,272 1,150 897 786 836 1,189 1,501 1,765 2,017 2,017 Depreciation, Depletion and
Amortization
-- -- -- -- -- 5,799 6,020 4,940 6,979 6,528 3,584 8,200 10,120 10,378 8,310 12,227 12,227 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABBV 4/8
Balance Sheet
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- 9.64 27.00 5,901 9,595 8,348 8,399 5,100 9,303 7,289 39,924 39,924 Cash And Cash Equivalents
-- -- -- -- -- -- 1.13 626 2,075 300 26.00 8.00 1,323 486 772 -- -- Marketable Securities
-- -- -- -- -- -- 10.78 653 7,976 9,895 8,374 8,407 6,423 9,789 8,061 39,924 39,924 Cash, Cash Equivalents, Marketable
Securities
-- -- -- -- -- -- 3,373 3,817 4,298 3,854 3,735 4,730 4,758 5,088 5,384 5,428 5,428 Accounts Receivable
-- -- -- -- -- -- 172 236 258 261 154 169 141 173 270 386 386 Inventories, Raw Materials &
Components
-- -- -- -- -- -- 224 207 286 404 629 1,081 1,080 822 862 942 942 Inventories, Work In Process
-- -- -- -- -- -- 440 429 547 485 341 469 223 610 473 485 485 Inventories, Finished Goods
-- -- -- -- -- -- 836 872 1,091 1,150 1,124 1,719 1,444 1,605 1,605 1,813 1,813 Total Inventories
-- -- -- -- -- -- 3,998 2,012 1,989 2,000 2,848 1,458 3,562 4,741 1,895 2,354 2,354 Other Current Assets
-- -- -- -- -- -- 8,218 7,354 15,354 17,848 16,081 16,314 16,187 21,223 16,945 49,519 49,519 Total Current Assets
-- -- -- -- -- -- 137 229 119 118 92.00 145 1,783 2,090 1,420 93.00 93.00 Investments And Advances
-- -- -- -- -- -- 109 106 48.00 50.00 48.00 46.00 46.00 48.00 73.00 72.00 72.00 Land And Improvements
-- -- -- -- -- -- 1,339 1,305 1,324 1,263 1,228 1,284 1,344 1,428 1,603 1,613 1,613 Buildings And Improvements
-- -- -- -- -- -- 4,383 4,331 4,865 5,214 5,324 5,656 5,726 5,991 6,362 6,012 6,012 Machinery, Furniture, Equipment
-- -- -- -- -- -- 271 206 305 382 505 348 410 604 358 491 491 Construction In Progress
-- -- -- -- -- -- 6,102 5,948 6,542 6,909 7,105 7,334 7,526 8,071 8,396 8,188 8,188 Gross Property, Plant and Equipment
-- -- -- -- -- -- -3,744 -3,804 -4,295 -4,611 -4,620 -4,769 -4,922 -5,268 -5,513 -5,226 -5,226 Accumulated Depreciation
-- -- -- -- -- -- 2,358 2,144 2,247 2,298 2,485 2,565 2,604 2,803 2,883 2,962 2,962 Property, Plant and Equipment
-- -- -- -- -- -- 9,888 9,010 8,453 8,167 7,375 32,877 44,313 43,344 36,896 34,253 34,253 Intangible Assets
-- -- -- -- -- -- 6,197 6,100 6,130 6,277 5,862 13,168 15,416 15,785 15,663 15,604 15,604 Goodwill
-- -- -- -- -- -- 533 784 835 767 1,480 1,149 1,212 1,326 1,208 2,288 2,288 Other Long Term Assets
-- -- -- -- -- -- 21,135 19,521 27,008 29,198 27,513 53,050 66,099 70,786 59,352 89,115 89,115 Total Assets
-- -- -- -- -- -- 357 417 556 933 1,401 1,597 1,407 1,474 1,546 1,452 1,452 Accounts Payable
-- -- -- -- -- -- 1,913 5,881 5,734 6,448 6,954 8,463 9,379 10,226 11,931 11,832 11,832 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- 16.00 1,042 431 4,439 2,431 402 6,415 5,308 3,753 3,753 Current Portion of Long-Term Debt
-- -- -- -- -- -- 1,848 -- -- -- -- -- -- -- -- -- -- Other Current Liabilities
-- -- -- -- -- -- 3,761 5,897 6,776 6,879 11,393 10,894 9,781 16,641 17,239 15,585 15,585 Total Current Liabilities
-- -- -- -- -- -- -- 32.00 14,630 14,292 10,538 29,240 36,440 30,953 35,002 62,975 62,975 Long-Term Debt
-- -- -- -- -- -- -- 32.00 14,630 14,292 10,538 29,240 36,440 30,953 35,002 62,975 62,975 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- 9,999 -- 0.00 4.66 3.28 8.60 8.03 7.95 7.33 -4.77 -8.17 -8.17 Debt to Equity
-- -- -- -- -- -- -- 397 979 1,628 2,220 1,949 2,085 2,740 1,840 2,949 2,949 PensionAndRetirementBenefit
-- -- -- -- -- -- -- 646 360 570 159 5,276 6,890 2,490 1,067 1,130 NonCurrent Deferred Liabilities
1,130
-- -- -- -- -- -- 1,670 617 900 1,337 1,461 1,746 6,267 12,865 12,650 14,648 14,648 Other Long-Term Liabilities
-- -- -- -- -- -- 5,432 7,589 23,645 24,706 25,771 49,105 61,463 65,689 67,798 97,287 97,287 Total Liabilities
-- -- -- -- -- -- -- 11,957 3,713 16.00 16.00 17.00 18.00 18.00 18.00 18.00 18.00 Common Stock
-- -- -- -- -- -- -- -- -- 1,567 535 2,248 4,378 5,459 3,368 4,717 Retained Earnings
4,717
-- -- -- -- -- -- 288 -25.00 -350 -442 -2,031 -2,561 -2,586 -2,727 -2,480 -3,596 -3,596 Accumulated other comprehensive
income (loss)
-- -- -- -- -- -- -- -- -- 3,671 4,194 13,080 13,678 14,270 14,756 15,193 15,193 Additional Paid-In Capital
-- -- -- -- -- -- -- -- -- -320 -972 -8,839 -10,852 -11,923 -24,108 -24,504 -24,504 Treasury Stock
-- -- -- -- -- -- 15,703 11,932 3,363 4,492 1,742 3,945 4,636 5,097 -8,446 -8,172 -8,172 Total Equity
-- -- -- -- -- -- 0.74 0.61 0.13 0.15 0.06 0.07 0.07 0.07 -0.14 -0.09 -0.09 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABBV 5/8
Cashflow Statement
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- 4,637 4,178 3,433 5,275 4,128 1,774 5,144 5,953 5,309 5,687 7,882 7,882 Net Income
-- -- -- -- -- -- -- -- -- -- -- -- 298 -- -- -- -- Net Foreign Currency Exchange
Gain
-- -- -- -- -- 4,637 4,178 3,433 5,275 4,128 1,774 5,144 5,953 5,309 5,687 7,882 7,882 Net Income From Continuing
Operations
-- -- -- -- -- 697 1,184 1,272 1,150 897 786 836 1,189 1,501 1,765 2,017 2,017 Depreciation, Depletion and
Amortization
-- -- -- -- -- -322 -60.00 -498 223 681 -172 -1,076 -71.00 -391 -591 -74.00 -74.00 Change In Receivables
-- -- -- -- -- 165 -73.00 -87.00 -203 -56.00 -203 -434 -38.00 93.00 -226 -231 -231 Change In Inventory
-- -- -- -- -- 450 -38.00 -206 90.00 459 -220 511 -393 -118 -499 97.00 97.00 Change In Prepaid Assets
-- -- -- -- -- 210 -695 1,497 -731 -426 -193 1,503 -1,187 425 190 -1,121 -1,121 Change In Payables And Accrued
Expense
-- -- -- -- -- 504 -866 706 -621 658 -788 504 -1,689 9.00 -1,126 -1,329 -1,329 Change In Working Capital
-- -- -- -- -- 157 167 163 187 212 241 282 353 365 421 430 430 Stock Based Compensation
-- -- -- -- -- -627 313 673 354 372 1,536 769 1,196 2,422 1,610 3,294 4,324 Cash Flow from Others
-- -- -- -- -- 5,367 4,976 6,247 6,345 6,267 3,549 7,535 7,041 9,960 13,427 13,324 13,324 Cash Flow from Operations
-- -- -- -- -- -313 -448 -356 -333 -491 -612 -532 -479 -529 -638 -552 -552 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -170 -2,621 -273 -688 -405 -622 -12,452 -2,757 -308 -736 -1,135 -1,135 Purchase Of Business
-- -- -- -- -- -4.21 -93.00 -1,943 -2,550 -930 -1,169 -851 -5,315 -2,230 -1,792 -583 -583 Purchase Of Investment
-- -- -- -- -- 0.01 1.00 1,255 1,153 2,705 1,477 899 2,359 2,793 2,160 2,699 2,699 Sale Of Investment
-- -- -- -- -- 0.42 -1,870 1,870 -- -- -- -- 118 -- -- 167 167 Cash From Other Investing Activities
-- -- -- -- -- -486 -5,031 553 -2,418 879 -926 -12,936 -6,074 -274 -1,006 596 596 Cash Flow from Investing
-- -- -- -- -- -- -- -- -- -320 -665 -7,586 -6,033 -1,410 -12,014 -629 -629 Repurchase of Stock
-- -- -- -- -- -34.77 -- -- 15,586 -601 -5.00 16,623 5,594 -2.00 3,229 26,247 26,247 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -2,555 -2,661 -3,294 -3,717 -4,107 -5,580 -6,366 -6,366 Cash Flow for Dividends
-- -- -- -- -- -4,846 -- -- -13,655 34.00 38.00 9.00 228 7.00 -31.00 -544 -544 Other Financing
-- -- -- -- -- -4,881 65.00 -6,783 1,931 -3,442 -3,293 5,752 -3,928 -5,512 -14,396 18,708 18,708 Cash Flow from Financing
-- -- -- -- -- -0.17 10.00 17.00 5,874 3,694 -1,247 51.00 -3,299 4,203 -2,014 32,635 32,635 Net Change in Cash
-- -- -- -- -- -313 -448 -356 -333 -491 -612 -532 -479 -529 -638 -552 -552 Capital Expenditure
-- -- -- -- -- 5,055 4,528 5,891 6,012 5,776 2,937 7,003 6,562 9,431 12,789 12,772 12,772 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABBV 6/8
Valuation Ratios
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 10.23 20.63 60.04 18.99 17.25 29.40 25.79 16.77 16.74 PE Ratio(TTM)
-- -- -- -- -- -- -- -- -- -- -- 15.88 20.03 24.25 23.55 16.21 16.19 Price to Owner Earnings (TTM)
-- -- -- -- -- -- -- -- 16.05 18.66 59.76 24.18 21.51 30.21 -- -- -- Price to Book
-- -- -- -- -- -- -- -- 8.98 14.69 35.82 13.86 15.55 16.44 11.09 10.29 10.28 Price-to-Free-Cash-Flow Ratio
-- -- -- -- -- -- -- -- 8.51 13.54 29.65 12.88 14.50 15.57 10.56 9.86 9.85 Price-to-Operating-Cash-Flow
Ratio
-- -- -- -- -- -- -- -- 2.94 4.52 5.28 4.25 3.98 5.49 4.35 3.95 3.94 PS Ratio
-- -- -- -- -- -- -- -- -- -- -- -- 2.46 2.32 1.28 0.95 0.78 PEG Ratio
-- -- -- -- -- -- -- -- 3.36 4.72 5.55 5.19 5.08 6.43 5.15 4.76 4.73 EV-to-Revenue
-- -- -- -- -- -- -- -- 8.84 13.72 30.89 14.47 12.86 17.50 20.29 12.96 12.89 EV-to-EBITDA
-- -- -- -- -- -- -- -- 10.58 15.93 39.57 16.11 14.57 20.45 25.76 15.52 15.43 EV-to-EBIT
-- -- -- -- -- -- -- -- 9.45 6.28 2.53 6.21 6.86 4.89 3.88 6.44 6.48 Return on Capital %
-- -- -- -- -- -- -- -- -- -- -- -- 12.51 16.62 25.17 24.18 24.24 Forward Rate of Return
-- -- -- -- -- -- -- -- -- 3.03 2.54 3.41 3.64 2.65 3.89 4.83 4.96 Dividend Yield %
Valuation and Quality
-- -- -- -- -- Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Market Cap
-- -- -- -- -- -- -- -- 53,973 83,828 104,141 95,370 99,723 153,975 136,332 131,393 131,186
-- -- -- -- -- -- -- -- 61,669 88,656 110,744 118,634 130,142 181,554 168,581 158,197 157,990 Enterprise Value
-- -- -- -- -- -- -- -- 34.16 52.81 65.44 59.24 62.62 96.71 92.19 88.54 88.69 Month End Stock Price
-- -- -- -- -- -- -3.43 -4.39 -9.92 -9.33 -10.93 -25.28 -34.56 -35.11 -40.40 -38.65 -38.58 Net Cash (per share)
-- -- -- -- -- -- 1.76 -0.15 -5.25 -4.32 -6.09 -20.37 -28.43 -27.93 -34.39 -32.19 -32.12 Net Current Asset Value (per
share)
-- -- -- -- -- -- -1.57 -2.30 -7.53 -7.15 -8.82 -22.54 -31.87 -32.21 -37.12 -35.30 -35.23 Net-Net Working Capital (per
share)
-- -- -- -- -- -- -- -- -- -- -- -- 38.77 46.17 54.42 66.40 66.40 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- -- -- 62.14 70.32 77.33 93.39 95.48 95.48 Median PS (per share)
-- -- -- -- -- -- -- -- -- -- -- -- 25.41 41.62 72.29 92.88 92.88 Peter Lynch Fair Value (per share)
-- -- -- -- -- -- 14.80 9.51 -- -- -- -- -- -- -- -- -- Graham Number (per share)
-- -- -- -- -- -- -- -- -- -- -- 22.15 23.45 26.06 29.03 46.88 46.88 Earnings Power Value (EPV)
-- -- -- -- -- -- -- 1.60 3.14 3.83 3.72 2.24 2.02 2.40 2.20 2.09 2.08 Altman Z-Score
-- -- -- -- -- 9,999 9,999 9,999 8.00 6.00 5.00 7.00 6.00 5.00 7.00 8.00 8.00 Piotroski F-Score
-- -- -- -- -- -- -- -- -3.13 -2.86 -2.71 -1.99 -2.40 -2.66 -3.11 -2.74 -2.74 Beneish M-Score
-- -- -- -- -- -- -- 0.54 0.57 0.35 0.29 0.99 0.66 0.49 0.34 0.31 0.31 Scaled Net Operating Assets
-- -- -- -- -- -- 20.03 -17.25 4.99 -10.34 -3.09 19.88 7.54 -6.18 -11.35 -6.78 -6.78 Sloan Ratio (%)
-- -- -- -- -- -- 2.19 1.25 2.27 2.59 1.41 1.50 1.65 1.28 0.98 3.18 3.18 Current Ratio
-- -- -- -- -- -- 1.96 1.10 2.10 2.43 1.31 1.34 1.51 1.18 0.89 3.06 3.06 Quick Ratio
-- -- -- -- -- -- -- -- 35.35 54.32 69.71 71.23 67.39 98.21 123 92.19 97.86 Highest Stock Price
-- -- -- -- -- -- -- -- -- 33.71 46.46 48.27 51.18 60.00 77.85 62.98 62.66 Lowest Stock Price
-- -- -- -- -- -- -- -- -- -0.47 -0.25 -1.16 1.08 0.02 7.12 -0.35 -0.55 Shares Buyback Ratio (%)
-- -- -- -- -- -- 10.02 11.56 5.56 0.51 5.84 12.63 12.57 11.98 20.36 5.81 5.68 YoY Rev. per Sh. Growth (%)
-- -- -- -- -- -- -9.89 -17.83 54.18 -23.58 -57.03 185 15.97 -9.09 10.91 44.26 47.68 YoY EPS Growth (%)
-- -- -- -- -- -- 3.81 -17.93 41.51 -8.02 -45.31 125 23.88 4.34 -16.98 53.28 55.69 YoY EBITDA Growth (%)
-- -- -- -- -- -- -- -- -- -- -- -- 7.00 12.65 20.22 17.59 21.40 EBITDA 5-Y Growth (%)
-- -- -- -- -- 1,580 1,580 1,580 1,577 1,589 1,595 1,625 1,622 1,596 1,541 1,481 1,484 Shares Outstanding (Basic
Average)
-- -- -- -- -- 1,580 1,580 1,580 1,580 1,587 1,591 1,610 1,593 1,592 1,479 1,484 1,479 Shares Outstanding (EOP)
-- -- -- -- -- -- -- -- -- -- -- 1.62 1.49 1.39 1.44 0.66 0.66 Beta
-- -- -- -- -- 12/19/12 04/05/13 12/19/12 03/15/13 02/21/14 02/20/15 02/19/16 02/17/17 02/16/18 02/27/19 02/21/20 Filing Date
-- -- -- -- -- 12/19/12 04/05/13 02/21/14 02/20/15 02/19/16 02/17/17 02/16/18 02/27/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABBV 7/8
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ABBV 8/8
Charter Communications Inc (NAS:CHTR) 03/02/2020 4:00PM EST GuruFocus
Price: $ 497.13 +3.96(+0.80%) Market Cap: $ 104.39 B Enterprise Value: $188.54 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 66.11
Cash to Debt 0.04 Operating margin (%) 14.45
Forward P/E N/A
Equity to Asset 0.21 Net-margin (%) 3.64
PE(NRI) 66.11
Interest Coverage 1.74 ROE (%) 4.86
F-Score:
P/B 3.32
ROA (%) 1.14
7 P/S 2.43
Z-Score: ROC (Joel Greenblatt) (%) 18.61
0.97 PFCF 24.04
Revenue Growth (3Y)(%) 18.30
WACC vs 6.08% POCF 9.45
ROIC 4.65% EBITDA Growth (3Y)(%) 18.80
WACC EV-to-EBIT 28.51
EPS Growth (3Y)(%) -22.40
ROIC
PEG 3.26
Shiller P/E 101.28
Current Ratio 0.52
Quick Ratio 0.52
Days Sales Outstanding 17.76
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Charter is the product of the 2016 merger of three cable companies, each with a decades-long history in the
Interest Coverage: Low business: Legacy Charter, Time Warner Cable, and Bright House Networks. The firm now holds networks capable of
2016 2,530 6,161 10,037 10,275 29,003 providing television, Internet access, and phone services to roughly 51 million U.S. homes and businesses, around
Price: Close to 10-year high 40% of the country. Across this footprint, Charter serves 27 million residential and 2 million commercial customer
2017 10,164 10,357 10,458 10,602 41,581
accounts under the Spectrum brand, making it the second- largest U.S. cable company behind Comcast. The firm also
PS Ratio: Close to 2-year high 2018 10,657 10,854 10,892 11,231 43,634 owns, in whole or in part, sports and news networks, including Spectrum SportsNet (long-term local rights to Los
2019 11,206 11,347 11,450 11,761 45,764 Angeles Lakers games), SportsNet LA (Los Angeles Dodgers), SportsNet New York (New York Mets), and Spectrum
ROIC vs. WACC: Return on News NY1.... (Read More)
2020
invested capital is less than Competitors: NAS:NFLX, NAS:LBRDA, NAS:DISH, NAS:VIAC, NAS:CMCSA, NYSE:LYV, NAS:DISCA,
weighted average cost of Quarterly Earnings per Share NAS:ROKU, NAS:LBTYA, XPAR:BOL, HAM:KD8, NAS:VIA, SZSE:002624, NYSE:MSG, NYSE:DLB, TSE:9602,
FRA:EVD, GREY:MERLY, SZSE:002739, SZSE:300251
capital. Mar Jun Sep Dec Full Year
Insider Sell: Insider Selling 2016 -1.86 15.17 0.69 1.67 15.67 Insider Trades
2017 0.57 0.52 0.19 34.56 35.84
2018 0.70 1.15 2.11 1.29 5.25
Good Signs 2019 1.11 1.39 1.74 3.28 7.52
Piotroski F-Score: High 2020
Operating Margin %: Quarterly Dividends Per Share
Expansion Mar Jun Sep Dec Full Year
2016 0.00 0.00 0.00 0.00 0.00
DCF 2017 0.00 0.00 0.00 0.00 0.00
2018 0.00 0.00 0.00 0.00 0.00
GuruFocus does not 2019 0.00 0.00 0.00 0.00 0.00
calculate intrinsic value: DCF 2020
(Earnings Based) for
companies with one star Growth Rate
predictability or not rated. But Annual Rates(per share) 10-Y 5-Y 12-M
you can go to each stock's
Revenue Growth (%) 0.00 18.80 10.40
DCF page to calculate
yourself. EBITDA Growth (%) 0.00 20.30 10.40
Free Cash Flow Growth (%) 0.00 0.00 123.30
Reverse DCF Book Value Growth (%) 0.00 0.00 -7.00
GuruFocus does not EPS Growth (%) 0.00 0.00 42.70
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHTR 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17.53 17.94 18.34 18.03 19.19 -- 69.00 73.13 83.28 88.48 92.95 96.43 124 140 185 204 205 Revenue per Share
-1.65 6.43 5.76 6.29 6.77 -- 25.15 26.80 29.34 30.49 31.99 32.90 44.07 50.69 66.97 73.91 73.98 EBITDA per Share
-7.15 1.08 1.22 2.30 2.89 -- 10.25 10.64 10.33 10.37 10.54 11.89 14.66 15.01 23.17 29.56 29.62 EBIT per Share
-16.00 -3.46 -4.57 -4.61 -7.26 -- -2.31 -3.75 -3.37 -1.82 -1.88 -2.68 15.94 34.09 5.22 7.45 7.52 Earnings per Share (diluted)
-16.00 -3.58 -5.29 -4.61 -7.26 -- -2.31 -3.75 -3.37 -1.82 -1.88 -2.68 15.94 34.09 5.22 7.45 7.52 eps without NRI
-17.33 -3.29 -2.54 -2.77 -6.75 -4.11 6.28 3.87 5.14 4.65 6.08 3.53 6.63 10.99 10.82 4.74 4.74 Owner Earnings per Share (TTM)
-1.82 -2.95 -2.60 -2.76 -2.49 -- 7.11 4.01 1.81 -2.90 1.86 5.41 -109 13.80 9.22 20.59 20.68 Free Cashflow per Share
-15.96 -13.07 -16.86 -21.92 -28.99 18.41 14.24 4.50 1.63 1.57 1.44 -0.45 149 164 161 150 150 Book Value per Share
-51.75 -39.18 -41.85 -46.75 -49.57 -63.86 -64.84 -85.31 -84.70 -90.36 -82.82 -81.93 -268 -295 -313 -349 -349 Tangible Book per Share
70.52 51.65 51.82 55.46 59.98 128 119 141 140 148 206 351 230 294 323 382 382 Total Debt per Share
-- -- -- -- -- 39.26 43.07 62.97 84.32 151 184 203 288 336 285 485 497 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -13.97 -39.11 -109 -113 -123 -542 17.57 24.98 3.26 4.93 4.86 Return on Equity %
-22.24 -5.67 -8.69 -10.31 -17.17 -- -1.46 -2.36 -1.95 -1.03 -0.88 -0.85 3.74 6.69 0.84 1.13 1.14 Return on Assets %
-29.20 5.01 6.64 14.83 19.35 -- 15.37 15.28 13.20 12.59 12.63 14.39 16.66 13.32 15.81 18.68 18.61 Return on Capital %
-10.97 2.30 3.00 7.02 8.33 -- -30.28 40.86 45.95 24.19 -20.18 3.47 21.49 38.47 4.17 4.67 4.65 Return on Invested Capital %
-- -- -- -- -- -- -- 19.68 16.27 11.12 2.40 1.12 -4.41 0.18 14.45 6.64 6.08 Weighted Average Cost Of Capital (WACC) %
-- -- -- 9.52 9.12 -- 6.84 7.65 7.07 6.27 5.20 4.61 5.13 4.68 4.95 4.96 5.01 Effective Interest Rate on Debt %
58.11 56.23 55.70 56.35 56.91 -- 36.45 36.65 35.23 34.46 34.42 34.12 35.68 36.17 36.15 36.14 36.14 Gross Margin %
-40.80 6.04 6.67 12.75 15.06 -- 14.86 14.55 12.41 11.72 11.34 12.33 11.86 10.71 12.50 14.45 14.45 Operating Margin %
-91.20 -19.21 -24.89 -25.56 -37.83 -- -3.36 -5.12 -4.05 -2.07 -2.01 -2.78 12.14 23.80 2.82 3.64 3.64 Net Margin %
-10.40 -16.45 -14.17 -15.31 -13.00 -- 10.30 5.48 2.17 -3.27 2.00 5.61 -87.89 9.84 4.98 10.07 10.07 FCF Margin %
-4.42 -3.95 -3.07 -2.53 -2.07 6.96 8.33 31.43 85.96 93.91 143 -777 1.54 1.80 2.01 2.55 2.55 Debt to Equity
-0.25 -0.30 -0.41 -0.54 -0.76 -- 0.09 0.03 0.01 0.01 0.01 -0.00 0.27 0.27 0.25 0.21 0.21 Total Equity to Total Asset
1.10 1.18 1.27 1.36 1.57 -- 0.78 0.82 0.82 0.82 0.86 0.91 0.41 0.48 0.50 0.54 0.54 Total Debt to Total Asset
14.17 16.60 19.45 22.72 25.83 -- 15.90 16.86 16.95 17.09 15.04 10.45 10.99 10.17 10.78 11.24 11.28 Gross Profit to Total Asset %
0.24 0.30 0.35 0.40 0.45 -- 0.44 0.46 0.48 0.50 0.44 0.31 0.31 0.28 0.30 0.31 0.31 Asset Turnover
14.57 15.52 12.93 13.68 12.51 -- 12.77 13.58 11.38 10.47 11.42 10.44 18.02 14.35 14.50 17.76 17.76 Days Sales Outstanding
223 197 13.77 17.69 12.94 -- 13.67 6.40 8.04 6.21 8.56 7.61 8.88 10.18 9.93 9.82 9.82 Days Accounts Payable
-208 -182 -0.84 -4.01 -0.43 -- -0.90 7.18 3.34 4.26 2.86 2.83 9.14 4.17 4.57 7.94 7.94 Cash Conversion Cycle
0.42 0.44 0.44 0.44 0.43 -- 0.64 0.63 0.65 0.66 0.66 0.66 0.64 0.64 0.64 0.64 0.64 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHTR 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,760 5,033 5,504 6,002 6,479 -- 7,059 7,204 7,504 8,155 9,108 9,754 29,003 41,581 43,634 45,764 45,764 Revenue
1,994 2,203 2,438 2,620 2,792 -- 4,486 4,564 4,860 5,345 5,973 6,426 18,655 26,541 27,860 29,224 29,224 Cost of Goods Sold
2,766 2,830 3,066 3,382 3,687 -- 2,573 2,640 2,644 2,810 3,135 3,328 10,348 15,040 15,774 16,540 16,540 Gross Profit
58.11 56.23 55.70 56.35 56.91 -- 36.45 36.65 35.23 34.46 34.42 34.12 35.68 36.17 36.15 36.14 36.14 Gross Margin %
965 1,012 1,165 1,289 1,401 -- 1,422 1,426 -- -- -- -- 899 -- -- 315 77.00 Selling, General, & Admin. Expense
3,743 1,514 1,534 1,328 1,310 -- 102 166 1,713 1,854 2,102 2,125 6,008 10,588 10,318 9,611 9,849 Other Operating Expense
-1,942 304 367 765 976 -- 1,049 1,048 931 956 1,033 1,203 3,441 4,452 5,456 6,614 6,614 Operating Income
-40.80 6.04 6.67 12.75 15.06 -- 14.86 14.55 12.41 11.72 11.34 12.33 11.86 10.71 12.50 14.45 14.45 Operating Margin %
-- -- -- -1,861 -1,903 -- -877 -963 -907 -846 -911 -1,306 -2,499 -3,090 -3,540 -3,797 -3,797 Interest Expense
-- -- -- -1,861 -1,905 -- -877 -963 -907 -846 -911 -1,306 -2,499 -3,090 -3,540 -3,797 -3,797 Net Interest Income
-1,633 -1,195 -1,766 -222 -1,621 -- -114 -155 -71.00 -159 -69.00 -228 -122 -334 -230 -386 -386 Other Income (Expense)
19.00 -1.00 -- -7.00 -4.00 -- -- -- -- -- -- -- -223 -220 -276 -324 -324 Other Income (Minority Interest)
-3,575 -891 -1,399 -1,318 -2,550 -- 58.00 -70.00 -47.00 -49.00 53.00 -331 820 1,028 1,686 2,431 2,431 Pre-Tax Income
134 -112 -187 -209 103 -- -295 -299 -257 -120 -236 60.00 2,925 9,087 -180 -439 -439 Tax Provision
3.75 -12.57 -13.37 -15.86 4.04 -- 509 -427 -547 -245 445 18.13 -357 -884 10.68 18.06 18.06 Tax Rate %
-3,441 -1,003 -1,586 -1,527 -2,447 -- -237 -369 -304 -169 -183 -271 3,745 10,115 1,506 1,992 1,992 Net Income (Continuing Operations)
-135 36.00 216 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
-4,341 -967 -1,370 -1,534 -2,451 -- -237 -369 -304 -169 -183 -271 3,522 9,895 1,230 1,668 1,668 Net Income
-91.20 -19.21 -24.89 -25.56 -37.83 -- -3.36 -5.12 -4.05 -2.07 -2.01 -2.78 12.14 23.80 2.82 3.64 3.64 Net Margin %
4.00 3.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Preferred dividends
-16.00 -3.46 -4.57 -4.61 -7.26 -- -2.31 -3.75 -3.37 -1.82 -1.88 -2.68 17.05 38.55 5.29 7.60 7.67 EPS (Basic)
-16.00 -3.46 -4.57 -4.61 -7.26 -- -2.31 -3.75 -3.37 -1.82 -1.88 -2.68 15.94 34.09 5.22 7.45 7.52 EPS (Diluted)
272 280 300 333 338 362 102 98.51 90.11 92.17 97.99 101 235 297 236 224 219 Shares Outstanding (Diluted
Average)
1,495 1,499 1,362 1,328 1,310 -- 1,524 1,592 1,713 1,854 2,102 2,125 6,907 10,588 10,318 9,926 9,926 Depreciation, Depletion and
Amortization
-447 1,803 1,729 2,093 2,286 -- 2,573 2,640 2,644 2,810 3,135 3,328 10,348 15,040 15,774 16,540 16,540 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHTR 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
650 21.00 60.00 75.00 960 709 4.00 2.00 7.00 21.00 3.00 5.00 1,535 621 551 3,483 3,483 Cash And Cash Equivalents
650 21.00 60.00 75.00 960 709 4.00 2.00 7.00 21.00 3.00 5.00 1,535 621 551 3,483 3,483 Cash, Cash Equivalents,
Marketable Securities
190 214 195 225 222 248 247 268 234 234 285 279 1,432 1,635 1,733 2,227 2,227 Accounts Receivable
82.00 92.00 84.00 36.00 36.00 114 75.00 87.00 89.00 67.00 57.00 61.00 333 299 446 761 761 Other Current Assets
922 327 339 336 1,218 1,071 326 357 330 322 345 345 3,300 2,555 2,730 6,471 6,471 Total Current Assets
578 584 498 483 497 302 306 318 342 425 499 570 3,426 3,901 4,360 4,843 4,843 Buildings And Improvements
11,022 12,005 4,079 4,385 11,715 6,625 7,703 8,943 10,427 12,343 13,358 14,293 40,640 48,064 53,841 57,404 57,404 Machinery, Furniture, Equipment
11,600 12,589 10,992 11,565 12,212 6,927 8,009 9,261 10,769 12,768 13,857 14,863 44,066 51,965 58,201 63,339 63,339 Gross Property, Plant and
Equipment
-5,311 -6,749 -5,775 -6,462 -7,225 -94.00 -1,190 -2,364 -3,563 -4,787 -5,484 -6,518 -11,103 -18,077 -23,075 -27,656 -27,656 Accumulated Depreciation
6,289 5,840 5,217 5,103 4,987 6,833 6,819 6,897 7,206 7,981 8,373 8,345 32,963 33,888 35,126 35,683 35,683 Property, Plant and Equipment
9,878 9,826 9,223 8,942 7,461 8,558 8,208 8,167 7,898 8,823 8,533 8,284 112,083 109,513 106,914 104,771 104,771 Intangible Assets
-- -- -- -- 68.00 951 951 954 953 1,177 1,168 1,168 29,509 29,554 29,554 29,554 29,554 Goodwill
584 438 321 285 216 196 354 180 162 169 7,137 22,342 721 667 1,360 1,263 1,263 Other Long Term Assets
17,673 16,431 15,100 14,666 13,882 16,658 15,707 15,601 15,596 17,295 24,388 39,316 149,067 146,623 146,130 148,188 148,188 Total Assets
1,217 1,191 92.00 127 99.00 113 168 80.00 107 91.00 140 134 454 740 758 786 786 Accounts Payable
-- -- -- -- -- -- -- -- -- -- -- 128 538 556 526 537 537 Total Tax Payable
1,217 1,191 1,298 1,332 1,186 796 1,049 961 998 1,221 1,381 1,685 6,081 8,650 8,311 8,211 8,211 Accounts Payable & Accrued
Expense
-- -- -- -- 155 70.00 -- -- -- -- -- -- 2,028 2,045 3,290 3,714 3,714 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 73.00 81.00 90.00 85.00 96.00 352 395 494 460 460 Current Deferred Revenue
-- -- -- -- -- -- -- 73.00 81.00 90.00 85.00 96.00 352 395 494 460 460 DeferredTaxAndRevenue
-- -- -- -- 124 102 -- 123 145 156 169 191 1,111 -- -- -- -- Other Current Liabilities
1,217 1,191 1,298 1,332 1,465 968 1,049 1,157 1,224 1,467 1,635 1,972 9,572 11,090 12,095 12,385 12,385 Total Current Liabilities
19,464 19,437 19,119 19,973 21,586 13,252 12,306 12,856 12,808 14,181 20,887 35,723 59,719 68,186 69,537 75,578 75,578 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 979 979 Capital Lease Obligation
19,464 19,437 19,119 19,973 21,586 13,252 12,306 12,856 12,808 14,181 20,887 35,723 59,719 68,186 69,537 76,557 76,557 Long-Term Debt & Capital Lease
Obligation
-4.42 -3.95 -3.07 -2.53 -2.07 6.96 8.33 31.43 85.96 93.91 143 -777 1.54 1.80 2.01 2.55 2.55 Debt to Equity
-- -- -- -- -- -- -- 847 1,321 1,431 1,648 1,590 26,665 17,314 17,389 17,711 17,711 NonCurrent Deferred Liabilities
648 188 192 199 -- 2.00 -- -- -- -- -- -- 10,227 8,447 7,987 7,366 7,366 Minority Interest
750 535 710 1,054 1,337 521 874 332 94.00 65.00 72.00 77.00 2,745 2,502 2,837 2,724 2,724 Other Long-Term Liabilities
21,431 21,163 21,127 22,359 24,388 14,741 14,229 15,192 15,447 17,144 24,242 39,362 98,701 99,092 101,858 109,377 109,377 Total Liabilities
-9,196 -10,166 -11,536 -13,096 -15,597 2.00 -235 -1,082 -1,392 -1,568 -1,762 -2,061 733 3,832 2,780 40.00 40.00 Retained Earnings
-4.00 5.00 4.00 -123 -303 -- -57.00 -65.00 -75.00 -41.00 -22.00 -13.00 -7.00 -1.00 -2.00 -- -- Accumulated other comprehensive
income (loss)
4,794 5,241 5,313 5,327 5,394 1,913 1,776 1,556 1,616 1,760 1,930 2,028 39,413 35,253 33,507 31,405 31,405 Additional Paid-In Capital
-- -- -- -- -- -- -6.00 -- -- -- -- -- -- -- -- -- -- Treasury Stock
-4,406 -4,920 -6,219 -7,892 -10,506 1,915 1,478 409 149 151 146 -46.00 40,139 39,084 36,285 31,445 31,445 Total Equity
-0.25 -0.30 -0.41 -0.54 -0.76 -- 0.09 0.03 0.01 0.01 0.01 -0.00 0.27 0.27 0.25 0.21 0.21 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHTR 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-4,341 -967 -1,370 -1,534 -2,451 -- -237 -369 -304 -169 -183 -271 3,745 10,115 1,506 1,992 1,992 Net Income
-4,341 -967 -1,370 -1,534 -2,451 -- -237 -369 -304 -169 -183 -271 3,745 10,115 1,506 1,992 1,992 Net Income From Continuing
Operations
1,495 1,499 1,362 1,328 1,310 -- 1,524 1,592 1,713 1,854 2,102 2,125 6,907 10,588 10,318 9,926 9,926 Depreciation, Depletion and
Amortization
-7.00 -29.00 24.00 -36.00 3.00 -- 1.00 -24.00 34.00 10.00 -51.00 5.00 -160 -84.00 -98.00 -505 -505 Change In Receivables
-2.00 97.00 55.00 45.00 -1.00 -- 22.00 1.00 -8.00 -- -9.00 -3.00 111 76.00 -270 -397 -397 Change In Prepaid Assets
-59.00 -181 48.00 51.00 -13.00 -- 142 37.00 46.00 114 158 319 1,029 449 125 -103 -103 Change In Payables And Accrued
Expense
-68.00 -113 127 60.00 -11.00 -- 165 14.00 72.00 124 98.00 321 980 441 -243 -1,005 -1,005 Change In Working Capital
-109 109 202 198 -107 -- 287 290 250 112 233 -65.00 -2,958 -9,116 110 320 320 Change In DeferredTax
-- -- -- -- -- -- -- -- -- -- 55.00 78.00 492 310 290 315 315 Stock Based Compensation
3,495 -268 2.00 41.00 137 -- 189 210 145 237 54.00 171 -1,125 -384 -214 200 200 Cash Flow from Others
472 260 323 327 399 -- 1,928 1,737 1,876 2,158 2,359 2,359 8,041 11,954 11,767 11,748 11,748 Cash Flow from Operations
-967 -1,088 -1,103 -1,244 -1,202 -- -1,209 -1,399 -1,726 -2,501 -2,210 -1,840 -34,135 -8,681 -9,125 -7,195 -7,195 Purchase Of Property, Plant,
Equipment
744 44.00 1,020 104 -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-17.00 -3.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Purchase Of Investment
-- 17.00 37.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Investment
-3.00 5.00 -19.00 2.00 -8.00 -- 39.00 33.00 -11.00 58.00 -7,094 -15,192 581 583 -611 -136 -136 Cash From Other Investing Activities
-243 -1,025 -65.00 -1,138 -1,210 -- -1,170 -1,366 -1,737 -2,443 -9,304 -17,032 -33,554 -8,098 -9,736 -7,331 -7,331 Cash Flow from Investing
-- -- -- -- -- -- -- -- -- -- -- -- 5,000 -- -- -- -- Issuance of Stock
-- -56.00 -- -- -- -- -6.00 -733 -11.00 -15.00 -19.00 -38.00 -1,562 -11,715 -4,399 -6,873 -6,873 Repurchase of Stock
-- -- -- -- -- -- -138 -- -- -- -- -- -- -- -- -- -- Net Issuance of Preferred Stock
582 262 -176 860 1,751 -- -1,237 417 -71.00 262 6,826 14,719 1,823 8,769 3,393 6,376 6,376 Net Issuance of Debt
-288 -70.00 -43.00 -34.00 -55.00 -- -82.00 -57.00 -52.00 52.00 120 -6.00 -482 -1,824 -881 -1,136 -1,136 Other Financing
294 136 -219 826 1,696 -- -1,463 -373 -134 299 6,927 14,675 4,779 -4,770 -1,887 -1,633 -1,633 Cash Flow from Financing
523 -629 39.00 15.00 885 -- -705 -2.00 5.00 14.00 -18.00 2.00 -20,734 -914 144 2,784 2,784 Net Change in Cash
-967 -1,088 -1,103 -1,246 -1,241 -- -1,201 -1,342 -1,713 -2,425 -2,177 -1,812 -33,532 -7,861 -9,595 -7,140 -7,140 Capital Expenditure
-495 -828 -780 -919 -842 -- 727 395 163 -267 182 547 -25,491 4,093 2,172 4,608 4,608 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHTR 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- -- -- -- 18.37 9.37 54.28 64.51 66.11 PE Ratio(TTM)
-- -- -- -- -- -- 6.86 16.27 16.40 32.53 30.31 57.38 43.44 30.57 26.34 102 105 Price to Owner Earnings
(TTM)
-- -- -- -- -- 2.13 3.02 14.00 51.76 96.15 128 -- 1.93 2.05 1.77 3.24 3.32 Price to Book
-- -- -- -- -- 78.84 6.09 15.58 46.56 -- 99.12 37.63 -- 24.20 30.60 23.45 24.04 Price-to-Free-Cash-Flow
Ratio
-- -- -- -- -- 13.34 2.30 3.57 4.05 6.46 7.65 8.72 8.89 8.18 5.70 9.23 9.45 Price-to-Operating-Cash-Flow
Ratio
-- -- -- -- -- 2.66 0.63 0.86 1.01 1.71 1.98 2.11 2.32 2.34 1.54 2.37 2.43 PS Ratio
-- -- -- -- -- -- -- -- -- -- -- -- 2.49 0.73 3.03 3.00 3.26 PEG Ratio
-- -- -- -- -- 3.31 2.38 2.58 2.73 3.52 4.34 5.77 5.10 3.80 3.31 4.06 4.12 EV-to-Revenue
-- -- -- -- -- 8.91 6.41 7.38 7.76 10.21 12.61 16.92 14.29 10.52 9.16 11.25 11.40 EV-to-EBITDA
-- -- -- -- -- 18.60 15.37 20.07 22.04 30.00 38.28 46.80 42.97 35.53 26.48 28.12 28.51 EV-to-EBIT
-- -- -- -- -- 5.38 6.51 4.98 4.54 3.33 2.61 2.14 2.33 2.81 3.78 3.56 3.51 Return on Capital %
-- -- -- -- -- -- 19.69 21.66 22.23 21.23 21.24 7.15 -0.61 6.66 11.41 16.91 16.99 Forward Rate of Return
-- -- -- -- -- -- -- -- -- -- -- -- -- 150 76.92 98.83 101 Shiller PE Ratio
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- 4,084 4,471 5,726 7,714 14,516 18,661 20,588 77,421 80,128 64,219 101,855 104,385 Market Cap
-- -- -- -- -- 16,699 16,773 18,580 20,515 28,676 39,545 56,306 147,860 158,185 144,482 186,009 188,539 Enterprise Value
-- -- -- -- -- 39.26 43.07 62.97 84.32 151 184 203 288 336 285 485 497 Month End Stock Price
-77.64 -56.68 -57.62 -62.43 -64.64 -135 -137 -167 -169 -178 -239 -387 -399 -448 -485 -539 -539 Net Cash (per share)
-76.65 -55.87 -56.86 -61.71 -63.93 -131 -134 -163 -165 -175 -236 -384 -393 -440 -475 -525 -525 Net Current Asset Value (per
share)
-77.12 -56.25 -57.22 -61.96 -64.18 -133 -135 -165 -167 -177 -237 -385 -395 -443 -479 -531 -531 Net-Net Working Capital (per
share)
-138 -60.87 -53.31 -51.40 -56.93 -11.29 -26.73 -17.42 -4.03 7.15 22.99 32.34 -66.10 -46.73 -75.86 -42.21 -42.21 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 393 393 Median PS (per share)
-- -- -- -- -- -- -52.09 -93.73 -84.61 -47.28 -45.91 -16.02 116 463 94.13 162 162 Peter Lynch Fair Value (per
share)
-202 -174 -128 -85.83 -84.99 -36.51 -33.55 24.18 6.88 -67.95 -200 -415 -368 -326 -586 -654 -654 Earnings Power Value (EPV)
-1.15 -0.80 -1.09 -1.22 -1.28 -0.02 0.76 0.72 0.77 0.93 0.80 0.52 0.70 0.83 0.74 0.96 0.97 Altman Z-Score
4.00 4.00 3.00 4.00 5.00 6.00 6.00 5.00 6.00 4.00 4.00 2.00 8.00 5.00 5.00 7.00 7.00 Piotroski F-Score
-3.27 -2.86 -3.09 -2.90 -3.55 -1.77 -2.72 -3.02 -3.05 -2.88 -2.68 -2.70 0.07 -2.26 -6.09 -- -- Beneish M-Score
0.71 0.83 0.79 0.81 0.70 1.05 0.83 0.84 0.83 0.92 1.22 1.46 2.81 0.79 0.80 0.79 0.80 Scaled Net Operating Assets
-25.86 -1.23 -10.78 -4.93 -11.81 -- -6.33 -4.74 -2.84 0.67 27.73 36.63 19.48 4.12 -0.55 -1.86 -1.86 Sloan Ratio (%)
0.76 0.27 0.26 0.25 0.83 1.11 0.31 0.31 0.27 0.22 0.21 0.17 0.34 0.23 0.23 0.52 0.52 Current Ratio
0.76 0.27 0.26 0.25 0.83 1.11 0.31 0.31 0.27 0.22 0.21 0.17 0.34 0.23 0.23 0.52 0.52 Quick Ratio
-- -- -- -- -- 39.26 43.96 66.08 91.29 154 188 215 292 403 388 486 547 Highest Stock Price
-- -- -- -- -- -- 32.63 42.53 62.10 84.32 130 167 176 286 261 285 336 Lowest Stock Price
-3.44 -36.35 1.96 2.39 -0.65 71.30 0.22 12.39 -0.60 -4.91 -5.52 -0.39 -164 11.30 5.51 6.82 6.82 Shares Buyback Ratio (%)
-3.10 2.37 2.20 -1.70 6.44 -100.00 -- 5.98 13.87 6.25 5.05 3.75 28.10 13.45 32.20 10.38 10.39 YoY Rev. per Sh. Growth (%)
-1,665 78.37 -31.95 -0.97 -57.31 100.00 -- -62.20 10.03 45.90 -3.02 -42.55 695 114 -84.69 42.72 43.24 YoY EPS Growth (%)
-122 491 -10.38 9.11 7.70 -100.00 -- 6.55 9.49 3.90 4.94 2.84 33.96 15.01 32.12 10.36 10.39 YoY EBITDA Growth (%)
-- -- -- -- -- -- 22.43 41.29 49.48 42.75 24.42 5.95 7.39 12.91 17.93 21.50 20.30 EBITDA 5-Y Growth (%)
272 280 300 333 338 -- 102 98.51 90.11 92.17 97.99 101 207 257 232 220 213 Shares Outstanding (Basic
Average)
276 376 369 360 362 104 104 90.94 91.48 95.98 101 102 269 239 225 210 215 Shares Outstanding (EOP)
-- -- -- -- -- -- -- -- 0.75 0.58 0.48 1.03 1.25 1.28 1.29 1.06 1.05 Beta
03/03/05 02/28/06 02/28/07 02/27/08 03/16/09 03/01/11 02/27/12 02/22/13 02/21/14 02/24/15 02/10/16 02/16/17 02/02/18 01/31/19 01/31/20 Filing Date
02/28/06 02/28/07 02/27/08 02/26/10 02/26/10 02/22/13 02/21/14 02/24/15 02/10/16 02/16/17 02/02/18 01/31/19 01/31/19 01/31/20 01/31/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHTR 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHTR 7/7
Gap Inc (NYSE:GPS) 03/02/2020 4:10PM EST GuruFocus
Price: $ 14.03 -0.30(-2.09%) Market Cap: $ 5.24 B Enterprise Value: $11.99 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 6.59
Cash to Debt 0.14 Operating margin (%) 7.29
Forward P/E N/A
Equity to Asset 0.26 Net-margin (%) 4.97
PE(NRI) 6.59
Interest Coverage 15.47 ROE (%) 22.75
F-Score:
P/B 1.44
ROA (%) 6.99
4 P/S 0.33
Z-Score: ROC (Joel Greenblatt) (%) 16.26
2.21 PFCF 19.25
Revenue Growth (3Y)(%) 3.80
WACC vs 6.71% POCF 3.98
ROIC 11.27% EBITDA Growth (3Y)(%) -0.30
WACC EV-to-EBIT 9.79
EPS Growth (3Y)(%) 5.10
ROIC
Shiller P/E 5.88
Current Ratio 1.43
Quick Ratio 0.58
Days Inventory 86.27
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year Gap, Inc. retails apparel, accessories, and personal-care products under the Gap, Old Navy, Banana Republic,
Athleta, Hill City, Janie & Jack, and Intermix brands. Old Navy generates nearly half of Gap's sales. The firm also
slow down 2016 4,385 3,438 3,851 3,798 15,472 operates e-commerce sites, outlet stores, and specialty stores under various Gap names. Gap operates approximately
2017 4,429 3,440 3,799 3,838 15,506 3,300 stores in North America, Europe, and Asia and franchises more than 500 stores in Asia, Europe, Latin America,
Valuation: Forward PE Ratio and other regions. Gap was founded in 1969 and is based in San Francisco.... (Read More)
2018 4,778 3,783 4,085 4,089 16,735
Competitors: NYSE:LB, TSE:7564 , TSE:2670 , NYSE:CRI, BOM:500251 , JSE:MRP, NAS:URBN, TSE:8227 ,
2019 4,623 3,706 4,005 3,998 16,332 NYSE:AEO, ASX:PMV, TSX:ATZ, TSE:8251, NYSE:GES, JSE:TRU, NAS:GIII, NYSE:BKE, XKRX:031430,
Good Signs 2020 NYSE:DBI, HKSE:01368, NSE:FLFL
Dividend Yield %: Close to Quarterly Earnings per Share Insider Trades
10-year high Mar Jun Sep Dec Full Year
Price: Close to 10-year low 2016 0.53 0.32 0.31 0.51 1.67
2017 0.55 0.36 0.68 0.58 2.17
PE Ratio: Close to 10-year 2018 0.52 0.42 0.76 0.69 2.39
low 2019 0.72 0.60 0.44 0.37 2.13
PB Ratio: Close to 10-year 2020
low Quarterly Dividends Per Share
PS Ratio: Close to 10-year Mar Jun Sep Dec Full Year
low 2016 0.23 0.23 0.23 0.23 0.92
2017 0.23 0.23 0.23 0.23 0.92
DCF 2018 0.23 0.24 0.24 0.24 0.96
2019 0.24 0.24 0.24 0.24 0.97
EPS without NRI: $2.13 2020
Growth Rate in the next 10
years: 5% Growth Rate
Terminal Growth Rate for 10 Annual Rates(per share) 10-Y 5-Y 12-M
years: 4%
Revenue Growth (%) 8.40 3.70 0.50
Fair Value: $22.79
EBITDA Growth (%) 4.00 -3.40 -6.80
Free Cash Flow Growth (%) -0.40 -7.90 -49.70
Reverse DCF
Book Value Growth (%) 2.70 6.20 8.20
Expected eps Growth Rate: -
EPS Growth (%) 4.00 -4.00 -10.90
2.90%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPS 1/7
Per Share Data
Jan04 Jan05 Jan06 Jan07 Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 TTM Fiscal Period
16.04 16.42 17.76 19.05 19.85 20.31 20.31 22.88 27.30 32.07 34.58 37.35 38.25 38.79 40.04 42.73 43.03 Revenue per Share
2.59 2.73 2.66 2.10 2.35 3.54 3.54 4.12 3.82 5.14 5.76 6.03 5.14 4.48 5.19 5.09 4.72 EBITDA per Share
1.90 2.10 1.97 1.47 1.66 2.61 2.61 3.11 2.71 3.99 4.61 4.75 3.71 3.00 3.78 3.60 3.22 EBIT per Share
1.09 1.21 1.24 0.93 1.05 1.58 1.58 1.88 1.56 2.33 2.74 2.87 2.23 1.69 2.14 2.59 2.13 Earnings per Share (diluted)
1.09 1.21 1.26 0.97 1.09 1.58 1.58 1.88 1.56 2.33 2.74 2.87 2.23 1.69 2.14 2.59 2.13 eps without NRI
1.36 0.95 1.28 0.99 2.04 2.35 2.23 2.12 1.91 3.26 3.00 4.02 2.95 2.58 2.04 2.18 2.32 Owner Earnings per Share (TTM)
1.92 1.19 1.05 0.81 1.76 2.28 2.28 1.85 1.53 2.62 2.22 3.22 2.10 2.99 1.64 1.74 0.73 Free Cashflow per Share
0.09 0.11 0.18 0.32 0.32 0.34 0.34 0.40 0.45 0.50 0.70 0.88 0.92 0.92 0.92 0.97 0.97 Dividends per Share
5.18 5.74 6.33 6.36 5.82 6.31 7.24 6.94 5.68 6.25 6.87 7.09 6.41 7.28 8.08 9.40 9.74 Book Value per Share
5.18 5.74 6.33 6.36 5.82 6.08 7.00 6.64 5.32 5.57 6.26 6.44 5.73 6.77 7.56 8.87 9.74 Tangible Book per Share
3.09 2.19 0.60 0.63 0.26 0.07 1.43 0.01 3.43 2.69 3.13 3.21 4.36 3.29 3.21 3.30 21.00 Total Debt per Share
18.58 22.01 18.09 19.17 19.09 11.28 19.08 19.27 18.98 32.68 38.08 41.19 24.72 23.03 33.24 25.44 14.03 Month End Stock Price
Ratios
Jan04 Jan05 Jan06 Jan07 Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 TTM Fiscal Period
24.80 24.00 21.48 14.68 17.63 25.45 23.76 26.84 24.37 40.18 42.98 41.75 33.29 24.81 28.04 29.95 22.75 Return on Equity %
9.99 11.08 11.80 8.96 10.17 14.31 14.17 16.00 11.50 15.24 16.71 16.24 12.13 8.96 10.87 12.51 6.99 Return on Assets %
43.54 45.79 44.76 33.86 37.86 57.10 63.45 74.20 51.41 67.46 69.99 63.08 45.58 39.24 50.87 41.34 16.26 Return on Capital %
29.68 32.66 32.82 24.96 28.71 41.69 36.69 41.93 35.30 45.86 47.14 45.29 33.28 26.83 34.92 34.20 11.27 Return on Invested Capital %
13.34 11.90 12.39 9.78 7.14 9.17 10.78 10.49 8.75 8.94 10.91 10.82 7.08 5.73 5.52 4.99 6.71 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 5.04 1.18 1.66 8.87 5.98 4.62 5.46 3.83 4.93 5.78 5.84 1.48 Effective Interest Rate on Debt %
37.64 39.23 36.67 35.53 36.11 40.32 40.32 40.16 36.25 39.43 38.97 38.27 36.21 36.35 38.26 38.13 37.37 Gross Margin %
11.85 12.82 11.08 7.69 8.34 12.78 12.78 13.42 9.88 12.41 13.31 12.67 9.65 7.68 9.33 8.21 7.29 Operating Margin %
6.50 7.07 6.95 4.89 5.28 7.76 7.76 8.21 5.73 7.25 7.93 7.68 5.82 4.36 5.35 6.05 4.97 Net Margin %
11.98 7.24 5.94 4.26 8.88 11.23 11.23 8.09 5.60 8.16 6.41 8.61 5.49 7.70 4.09 4.08 1.72 FCF Margin %
0.60 0.38 0.10 0.10 0.04 0.01 0.20 0.00 0.60 0.43 0.46 0.45 0.68 0.45 0.40 0.35 2.16 Debt to Equity
0.43 0.49 0.62 0.61 0.55 0.58 0.61 0.58 0.37 0.39 0.39 0.39 0.34 0.38 0.39 0.44 0.26 Total Equity to Total Asset
0.26 0.19 0.06 0.06 0.02 0.01 0.12 -- 0.22 0.17 0.18 0.18 0.23 0.17 0.16 0.16 0.56 Total Debt to Total Asset
57.90 61.47 62.26 65.15 69.49 74.33 73.63 78.26 72.81 82.88 82.16 80.94 75.45 74.79 77.77 78.84 52.62 Gross Profit to Total Asset %
1.54 1.57 1.70 1.83 1.92 1.84 1.83 1.95 2.01 2.10 2.11 2.12 2.08 2.06 2.03 2.07 1.41 Asset Turnover
0.08 0.09 0.14 0.33 0.29 0.22 0.22 0.21 0.29 0.22 0.26 0.31 0.41 0.54 0.43 0.38 0.45 Dividend Payout Ratio
-- -- -- -- -- -- 3.86 5.10 7.45 7.72 10.44 6.11 6.52 7.88 6.49 7.90 -- Days Sales Outstanding
43.49 45.78 40.73 39.43 36.46 42.00 44.24 43.63 41.95 44.05 46.00 42.20 40.28 45.94 44.04 40.07 44.29 Days Accounts Payable
69.26 64.94 63.14 62.08 61.09 66.36 64.25 64.41 63.65 64.93 68.26 68.66 68.13 68.43 71.35 73.44 86.27 Days Inventory
25.77 19.16 22.41 22.65 24.63 24.36 23.87 25.88 29.15 28.60 32.70 32.57 34.37 30.37 33.80 41.27 41.98 Cash Conversion Cycle
5.27 5.62 5.78 5.88 5.98 5.50 5.68 5.67 5.73 5.62 5.35 5.32 5.36 5.33 5.12 4.97 4.23 Inventory Turnover
0.62 0.61 0.63 0.64 0.64 0.60 0.60 0.60 0.64 0.61 0.61 0.62 0.64 0.64 0.62 0.62 0.63 COGS to Revenue
0.12 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.12 0.12 0.12 0.12 0.12 0.15 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPS 2/7
Income Statement
Jan04 Jan05 Jan06 Jan07 Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 TTM Fiscal Period
15,854 16,267 16,019 15,923 15,763 14,197 14,197 14,664 14,549 15,651 16,148 16,435 15,797 15,516 15,855 16,580 16,332 Revenue
9,886 9,886 10,145 10,266 10,071 8,473 8,473 8,775 9,275 9,480 9,855 10,146 10,077 9,876 9,789 10,258 10,228 Cost of Goods Sold
5,968 6,381 5,874 5,657 5,692 5,724 5,724 5,889 5,274 6,171 6,293 6,289 5,720 5,640 6,066 6,322 6,104 Gross Profit
37.64 39.23 36.67 35.53 36.11 40.32 40.32 40.16 36.25 39.43 38.97 38.27 36.21 36.35 38.26 38.13 37.37 Gross Margin %
4,089 4,296 4,099 4,432 4,377 3,909 3,909 3,921 3,836 4,229 4,144 4,206 4,196 4,449 4,587 4,960 4,913 Other Operating Expense
1,879 2,085 1,775 1,225 1,315 1,815 1,815 1,968 1,438 1,942 2,149 2,083 1,524 1,191 1,479 1,362 1,191 Operating Income
11.85 12.82 11.08 7.69 8.34 12.78 12.78 13.42 9.88 12.41 13.31 12.67 9.65 7.68 9.33 8.21 7.29 Operating Margin %
-- -- -- -- -- 7.00 7.00 6.00 5.00 6.00 5.00 5.00 6.00 8.00 19.00 33.00 33.00 Interest Income
-- -- -- -- -- -6.00 -6.00 -8.00 -74.00 -87.00 -61.00 -75.00 -59.00 -75.00 -74.00 -73.00 -77.00 Interest Expense
-- -- -- -- -- 1.00 1.00 14.00 -69.00 -81.00 -56.00 -70.00 -53.00 -67.00 -55.00 -40.00 -44.00 Net Interest Income
-196 -213 48.00 90.00 91.00 -- -- -- -- -- -- -- -- -- -- -- -- Other Income (Expense)
1,683 1,872 1,823 1,315 1,406 1,816 1,816 1,982 1,369 1,861 2,093 2,013 1,471 1,124 1,424 1,322 1,147 Pre-Tax Income
-653 -722 -692 -506 -539 -714 -714 -778 -536 -726 -813 -751 -551 -448 -576 -319 -336 Tax Provision
38.80 38.57 37.96 38.48 38.34 39.32 39.32 39.25 39.15 39.01 38.84 37.31 37.46 39.86 40.45 24.13 29.29 Tax Rate %
1,030 1,150 1,131 809 867 1,102 1,102 1,204 833 1,135 1,280 1,262 920 676 848 1,003 811 Net Income (Continuing Operations)
-- -- -18.00 -31.00 -34.00 -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
1,030 1,150 1,113 778 833 1,102 1,102 1,204 833 1,135 1,280 1,262 920 676 848 1,003 811 Net Income
6.50 7.07 6.95 4.89 5.28 7.76 7.76 8.21 5.73 7.25 7.93 7.68 5.82 4.36 5.35 6.05 4.97 Net Margin %
1.15 1.29 1.26 0.94 1.05 1.59 1.59 1.89 1.57 2.35 2.78 2.90 2.24 1.69 2.16 2.61 2.13 EPS (Basic)
1.09 1.21 1.24 0.93 1.05 1.58 1.58 1.88 1.56 2.33 2.74 2.87 2.23 1.69 2.14 2.59 2.13 EPS (Diluted)
988 991 902 836 794 699 699 641 533 488 467 440 413 400 396 388 376 Shares Outstanding (Diluted
Average)
675 615 625 530 547 655 655 648 592 559 536 564 592 593 559 578 570 Depreciation, Depletion and
Amortization
2,554 2,700 2,400 1,755 1,862 2,477 2,477 2,638 2,035 2,507 2,690 2,652 2,122 1,792 2,057 1,973 1,794 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPS 3/7
Balance Sheet
Jan04 Jan05 Jan06 Jan07 Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 TTM Fiscal Period
2,261 2,245 2,035 2,030 1,724 1,715 2,348 1,561 1,885 1,460 1,510 1,515 1,370 1,783 1,783 1,081 788 Cash And Cash Equivalents
1,073 817 952 570 177 -- 225 100.00 -- 50.00 -- -- -- -- -- 288 294 Marketable Securities
3,334 3,062 2,987 2,600 1,901 1,715 2,573 1,661 1,885 1,510 1,510 1,515 1,370 1,783 1,783 1,369 1,082 Cash, Cash Equivalents, Marketable
Securities
-- -- -- -- -- -- 150 205 297 331 462 275 282 335 282 359 -- Accounts Receivable
-- -- -- -- -- -- -- 1,620 1,615 1,758 1,928 1,889 1,873 1,830 1,997 2,131 2,720 Inventories, Finished Goods
1,704 1,814 1,696 1,796 1,575 1,506 1,477 -- -- -- -- -- -- -- -- -- -- Inventories, Other
1,704 1,814 1,696 1,796 1,575 1,506 1,477 1,620 1,615 1,758 1,928 1,889 1,873 1,830 1,997 2,131 2,720 Total Inventories
1,665 1,428 556 633 610 784 464 440 512 533 530 638 460 367 506 392 770 Other Current Assets
6,703 6,304 5,239 5,029 4,086 4,005 4,664 3,926 4,309 4,132 4,430 4,317 3,985 4,315 4,568 4,251 4,572 Total Current Assets
1,033 1,038 1,008 1,005 1,022 1,065 1,086 1,093 1,096 1,101 1,106 1,009 1,019 1,000 1,037 1,123 -- Land And Improvements
2,660 2,636 2,742 2,926 3,077 -- -- -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
3,229 2,847 2,532 2,487 2,401 3,151 3,249 3,340 3,423 3,542 3,666 3,909 4,036 4,108 4,326 4,257 -- Machinery, Furniture, Equipment
131 231 80.00 123 165 80.00 79.00 74.00 96.00 136 176 167 187 222 264 183 -- Construction In Progress
7,415 7,169 6,958 7,135 7,320 7,245 7,427 7,573 7,783 7,910 8,159 8,305 8,494 8,429 8,767 8,667 15,020 Gross Property, Plant and Equipment
-3,789 -3,793 -3,712 -3,938 -4,053 -4,312 -4,799 -5,010 -5,260 -5,291 -5,401 -5,532 -5,644 -5,813 -5,962 -5,755 -5,999 Accumulated Depreciation
3,626 3,376 3,246 3,197 3,267 2,933 2,628 2,563 2,523 2,619 2,758 2,773 2,850 2,616 2,805 2,912 9,021 Property, Plant and Equipment
-- -- -- -- -- 160 160 176 176 316 272 272 272 204 204 201 -- Intangible Assets
-- -- -- -- -- 99.00 99.00 99.00 99.00 184 180 180 180 109 109 109 -- Goodwill
384 368 336 318 485 466 533 400 414 403 389 328 366 475 412 685 525 Other Long Term Assets
10,713 10,048 8,821 8,544 7,838 7,564 7,985 7,065 7,422 7,470 7,849 7,690 7,473 7,610 7,989 8,049 14,118 Total Assets
1,178 1,240 1,132 1,109 1,006 975 1,027 1,049 1,066 1,144 1,242 1,173 1,112 1,243 1,181 1,126 1,241 Accounts Payable
-- -- -- -- -- 57.00 41.00 50.00 5.00 108 36.00 20.00 23.00 32.00 10.00 24.00 43.00 Total Tax Payable
2,084 2,164 1,857 1,931 1,416 2,108 2,131 1,124 1,097 1,278 1,278 1,193 1,166 1,321 1,234 1,191 2,258 Accounts Payable & Accrued
Expense
283 -- -- 325 138 50.00 -- 3.00 59.00 -- 25.00 21.00 421 65.00 -- -- 934 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 233 228 232 238 251 254 256 247 227 -- Current Deferred Revenue
-- -- -- -- -- -- -- 332 332 325 331 353 354 355 350 328 -- DeferredTaxAndRevenue
180 78.00 85.00 16.00 879 -- -- 636 640 741 811 667 594 712 877 655 -- Other Current Liabilities
2,547 2,242 1,942 2,272 2,433 2,158 2,131 2,095 2,128 2,344 2,445 2,234 2,535 2,453 2,461 2,174 3,192 Total Current Liabilities
2,487 1,886 513 188 50.00 -- 963 -- 1,606 1,246 1,369 1,332 1,310 1,248 1,249 1,249 1,249 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 5,650 Capital Lease Obligation
2,487 1,886 513 188 50.00 -- 963 -- 1,606 1,246 1,369 1,332 1,310 1,248 1,249 1,249 6,899 Long-Term Debt & Capital Lease
Obligation
0.60 0.38 0.10 0.10 0.04 0.01 0.20 0.00 0.60 0.43 0.46 0.45 0.68 0.45 0.40 0.35 2.16 Debt to Equity
-- -- -- -- -- -- -- 744 727 777 766 773 776 748 749 736 -- NonCurrent Deferred Liabilities
1,031 984 941 910 1,081 1,019 -- 146 206 209 207 368 307 257 386 337 393 Other Long-Term Liabilities
6,065 5,112 3,396 3,370 3,564 3,177 3,094 2,985 4,667 4,576 4,787 4,707 4,928 4,706 4,845 4,496 10,484 Total Liabilities
49.00 49.00 54.00 55.00 55.00 55.00 55.00 55.00 55.00 55.00 55.00 21.00 20.00 20.00 19.00 19.00 19.00 Common Stock
6,110 7,181 8,133 8,646 9,223 9,947 10,815 11,767 12,364 13,259 14,218 2,797 2,440 2,749 3,081 3,481 3,573 Retained Earnings
18.00 40.00 46.00 77.00 125 123 155 185 229 181 135 165 85.00 54.00 36.00 53.00 42.00 Accumulated other comprehensive
income (loss)
732 904 2,402 2,631 2,783 2,895 2,935 2,939 2,867 2,864 2,899 -- -- 81.00 8.00 -- -- Additional Paid-In Capital
-2,261 -3,238 -5,210 -6,235 -7,912 -8,633 -9,069 -10,866 -12,760 -13,465 -14,245 -- -- -- -- -- -- Treasury Stock
4,648 4,936 5,425 5,174 4,274 4,387 4,891 4,080 2,755 2,894 3,062 2,983 2,545 2,904 3,144 3,553 3,634 Total Equity
0.43 0.49 0.62 0.61 0.55 0.58 0.61 0.58 0.37 0.39 0.39 0.39 0.34 0.38 0.39 0.44 0.26 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPS 4/7
Cashflow Statement
Jan04 Jan05 Jan06 Jan07 Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 TTM Fiscal Period
1,031 1,150 1,113 778 833 1,102 1,102 1,204 833 1,135 1,280 1,262 920 676 848 1,003 811 Net Income
1,031 1,150 1,113 778 833 1,102 1,102 1,204 833 1,135 1,280 1,262 920 676 848 1,003 811 Net Income From Continuing
Operations
675 615 625 530 547 655 655 648 592 559 536 564 592 593 559 578 570 Depreciation, Depletion and
Amortization
385 -90.00 114 -97.00 252 43.00 43.00 -127 4.00 -143 -193 -9.00 -6.00 46.00 -142 -154 -17.00 Change In Inventory
5.00 -18.00 -104 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
-10.00 39.00 -102 -25.00 199 81.00 81.00 -82.00 -125 305 26.00 -161 -112 241 -108 -161 16.00 Change In Payables And Accrued
Expense
274 -145 -113 -84.00 645 229 229 -247 -94.00 232 -164 249 44.00 321 -162 -303 6.00 Change In Working Capital
101 -80.00 -46.00 -41.00 -51.00 -52.00 -50.00 104 -1.00 -4.00 119 112 127 -58.00 61.00 65.00 74.00 Change In DeferredTax
-- -- -- -- -- 64.00 64.00 77.00 58.00 113 116 100.00 76.00 76.00 87.00 91.00 83.00 Stock Based Compensation
79.00 57.00 -28.00 67.00 107 -70.00 -72.00 -42.00 -25.00 -99.00 -182 -168 -219 -67.00 -41.00 -67.00 -202 Cash Flow from Others
2,160 1,597 1,551 1,250 2,081 1,928 1,928 1,744 1,363 1,936 1,705 2,129 1,594 1,719 1,380 1,381 1,342 Cash Flow from Operations
-261 -419 -600 -572 -682 -334 -334 -557 -548 -659 -670 -714 -726 -524 -731 -705 -1,061 Purchase Of Property, Plant,
Equipment
1.00 -- 27.00 22.00 11.00 1.00 1.00 -- -- -- -- 121 -- -- 66.00 -- 220 Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -- -129 -- -- -- -- -- -- -69.00 Purchase Of Business
-1,202 -1,813 -1,868 -1,460 -894 -350 -350 -475 -50.00 -200 -- -- -- -- -- -464 -291 Purchase Of Investment
442 2,072 1,745 1,841 1,287 125 125 600 150 150 50.00 -- -- -- -- 177 296 Sale Of Investment
-1,298 343 982 19.00 4.00 21.00 21.00 3.00 -6.00 -6.00 -4.00 -3.00 -4.00 -5.00 -1.00 -9.00 -3.00 Cash From Other Investing Activities
-2,318 183 286 -150 -274 -537 -537 -429 -454 -844 -624 -596 -730 -529 -666 -1,001 -907 Cash Flow from Investing
111 130 110 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -976 -1,971 -1,050 -1,700 -547 -547 -1,959 -2,092 -1,030 -979 -1,179 -1,015 -- -315 -398 -248 Repurchase of Stock
-668 -871 -- -- -326 -50.00 -50.00 3.00 1,662 -419 144 -21.00 379 -421 -67.00 -- -- Net Issuance of Debt
-79.00 -79.00 -179 -265 -252 -234 -234 -252 -236 -240 -321 -383 -377 -367 -361 -373 -366 Cash Flow for Dividends
-- -- -- 213 132 60.00 60.00 81.00 64.00 208 152 76.00 23.00 11.00 12.00 22.00 6.00 Other Financing
-636 -1,796 -2,040 -1,102 -2,146 -771 -771 -2,127 -602 -1,481 -1,004 -1,507 -990 -777 -731 -749 -608 Cash Flow from Financing
-766 -16.00 -210 -5.00 -306 633 633 -787 324 -425 50.00 5.00 -145 413 2.00 -379 -170 Net Change in Cash
-261 -419 -600 -572 -682 -334 -334 -557 -548 -659 -670 -714 -726 -524 -731 -705 -1,061 Capital Expenditure
1,899 1,178 951 678 1,399 1,594 1,594 1,187 815 1,277 1,035 1,415 868 1,195 649 676 281 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPS 5/7
Valuation Ratios
Jan04 Jan05 Jan06 Jan07 Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 TTM Fiscal Period
17.05 18.04 14.71 20.61 18.01 7.09 12.00 10.25 12.09 14.09 13.85 14.30 11.14 13.63 15.53 9.82 6.59 PE Ratio(TTM)
13.63 23.14 14.11 19.40 9.35 4.81 8.56 9.11 9.95 10.02 12.69 10.26 8.38 8.92 16.26 11.65 6.04 Price to Owner Earnings
(TTM)
3.59 3.84 2.86 3.02 3.28 1.79 2.64 2.78 3.34 5.23 5.55 5.81 3.86 3.16 4.11 2.71 1.44 Price to Book
3.59 3.84 2.86 3.02 3.28 1.86 2.73 2.90 3.57 5.87 6.09 6.40 4.32 3.40 4.40 2.87 1.44 Price to Tangible Book
9.72 18.16 16.63 23.38 10.49 4.63 8.35 10.18 11.93 12.45 17.03 12.71 11.59 7.73 20.17 14.40 19.25 Price-to-Free-Cash-Flow
Ratio
8.54 13.45 10.30 12.71 7.13 3.89 6.90 6.97 7.22 8.22 10.37 8.46 6.34 5.37 9.50 7.09 3.98 Price-to-Operating-Cash-
Flow Ratio
1.16 1.34 1.01 1.00 0.96 0.55 0.94 0.84 0.69 1.02 1.10 1.10 0.64 0.59 0.83 0.59 0.33 PS Ratio
-- 7.52 1.20 1.51 -- 33.76 1.48 0.69 0.74 1.29 1.40 1.19 1.21 6.62 -- -- -- PEG Ratio
1.02 1.09 0.81 0.85 0.78 0.44 0.80 0.66 0.62 0.95 1.04 1.05 0.64 0.56 0.78 0.57 0.73 EV-to-Revenue
6.31 6.58 5.43 7.74 6.61 2.45 4.56 3.66 4.42 5.93 6.27 6.48 4.79 4.87 6.03 4.81 6.68 EV-to-EBITDA
8.58 8.52 7.34 11.12 9.35 3.31 6.20 4.85 6.23 7.63 7.83 8.23 6.65 7.27 8.28 6.81 9.79 EV-to-EBIT
11.66 11.74 13.62 8.99 10.70 30.21 16.13 20.62 16.05 13.11 12.77 12.15 15.04 13.76 12.08 14.68 10.21 Return on Capital %
0.59 6.40 18.85 20.28 6.77 15.03 17.62 25.17 27.04 17.91 16.08 17.82 19.13 13.99 3.48 5.90 10.08 Forward Rate of Return
25.95 26.92 19.53 19.56 18.16 10.36 17.14 16.13 13.56 20.73 21.85 21.95 12.57 11.07 15.04 10.93 5.88 Shiller PE Ratio
0.47 0.50 1.00 1.67 1.68 3.01 1.78 2.08 2.38 1.53 1.84 2.14 3.72 3.99 2.77 3.81 6.92 Dividend Yield %
Valuation and Quality
Jan04 Jan05 Jan06 Jan07 Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 TTM Fiscal Period
16,670 18,941 15,503 15,602 14,012 7,848 12,898 11,331 9,205 15,131 16,984 17,341 9,814 9,189 12,930 9,616 5,237 Market Cap
16,106 17,765 13,029 13,515 12,299 6,183 11,288 9,673 8,985 14,867 16,868 17,179 10,175 8,719 12,396 9,496 11,988 Enterprise Value
18.58 22.01 18.09 19.17 19.09 11.28 19.08 19.27 18.98 32.68 38.08 41.19 24.72 23.03 33.24 25.44 14.03 Month End Stock Price
-3.04 -2.38 -0.48 -0.95 -2.27 -2.10 -0.77 -2.25 -5.74 -6.62 -7.35 -7.58 -8.96 -7.33 -7.87 -8.27 -25.21 Net Cash (per share)
0.71 1.39 2.15 2.04 0.71 1.19 2.32 1.60 -0.74 -0.96 -0.80 -0.93 -2.38 -0.98 -0.71 -0.65 -15.85 Net Current Asset Value
(per share)
-2.09 -1.33 0.51 0.16 -1.19 -1.02 0.49 -0.61 -3.61 -4.19 -4.41 -4.85 -6.07 -4.40 -4.76 -4.74 -21.56 Net-Net Working Capital (per
share)
10.69 11.26 14.84 19.20 20.76 27.49 25.33 30.12 38.26 45.51 46.23 47.96 42.87 35.88 32.40 31.69 28.98 Projected FCF (per share)
27.86 28.01 29.54 25.39 24.46 21.99 20.91 23.02 27.16 32.37 34.98 37.77 37.73 37.24 37.04 38.17 36.95 Median PS (per share)
9.55 7.13 15.01 12.68 -- -- 12.93 27.84 25.76 25.26 27.25 34.62 20.38 -- -- -- -- Peter Lynch Fair Value (per
share)
11.27 12.50 13.40 11.78 11.95 14.70 15.77 16.76 13.66 17.09 19.64 20.39 16.95 16.04 19.08 22.73 21.61 Graham Number (per share)
16.40 20.17 25.51 16.06 15.64 16.63 13.85 16.05 17.36 20.27 20.83 21.61 19.50 20.81 19.48 17.06 -5.85 Earnings Power Value
(EPV)
4.91 5.94 6.98 6.95 6.86 6.29 7.31 7.93 6.47 7.71 7.93 6.08 4.67 4.53 5.06 4.83 2.21 Altman Z-Score
7.00 8.00 7.00 6.00 8.00 8.00 6.00 6.00 6.00 8.00 7.00 6.00 4.00 7.00 9.00 7.00 4.00 Piotroski F-Score
-2.91 -2.53 -2.49 -2.73 -2.84 -2.54 -2.96 -- -- -- -- -- -- -3.13 -2.99 -- -- Beneish M-Score
0.41 0.35 0.29 0.35 0.30 0.35 0.43 0.30 0.36 0.35 0.39 0.36 0.38 0.33 0.34 0.43 0.74 Scaled Net Operating
Assets
11.09 -6.27 -8.21 -3.77 -12.43 -3.82 -3.62 -1.57 -1.02 0.58 2.54 -3.52 0.75 -6.75 1.68 7.74 2.66 Sloan Ratio (%)
2.63 2.81 2.70 2.21 1.68 1.86 2.19 1.87 2.02 1.76 1.81 1.93 1.57 1.76 1.86 1.96 1.43 Current Ratio
1.96 2.00 1.82 1.42 1.03 1.16 1.50 1.10 1.27 1.01 1.02 1.09 0.83 1.01 1.04 0.98 0.58 Quick Ratio
23.47 25.66 22.58 21.09 21.87 21.37 23.21 26.21 23.29 37.27 46.48 46.59 43.45 30.71 35.48 34.59 31.39 Highest Stock Price
12.85 18.65 16.00 16.22 15.66 9.51 9.85 16.86 15.52 19.45 31.22 35.74 22.45 17.09 21.20 24.60 13.47 Lowest Stock Price
-1.11 4.08 0.42 5.03 9.81 5.22 2.83 13.02 17.52 4.54 3.67 5.61 5.70 -0.50 2.51 2.83 2.36 Shares Buyback Ratio (%)
-1.96 2.31 8.19 7.25 4.23 2.30 -- 12.64 19.32 17.50 7.81 8.02 2.40 1.41 3.22 6.73 0.48 YoY Rev. per Sh. Growth
(%)
102 11.01 2.48 -25.00 12.90 50.48 -- 18.99 -17.02 49.36 17.60 4.74 -22.30 -24.22 26.63 21.03 -10.88 YoY EPS Growth (%)
32.90 5.42 -2.35 -21.12 11.72 51.13 -- 16.11 -7.22 34.55 12.13 4.64 -14.75 -12.81 15.94 -2.10 -6.84 YoY EBITDA Growth (%)
-3.36 2.40 12.01 13.35 -1.03 0.21 8.13 14.81 16.41 10.89 9.91 12.02 9.18 2.06 -4.13 -3.85 -3.40 EBITDA 5-Y Growth (%)
893 893 881 831 791 694 694 636 529 482 461 435 411 399 393 385 375 Shares Outstanding (Basic
Average)
897 861 857 814 734 696 676 588 485 463 446 421 397 399 389 378 373 Shares Outstanding (EOP)
1.95 1.56 1.49 0.88 0.62 1.08 1.21 1.19 1.25 1.28 1.48 1.62 0.97 0.63 0.51 0.42 1.04 Beta
03/30/04 03/28/05 03/28/06 04/02/07 03/28/08 03/27/09 03/26/10 03/28/11 03/26/12 03/26/13 03/24/14 03/23/15 03/21/16 03/20/17 03/20/18 03/19/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPS 6/7
03/28/05 03/28/06 04/02/07 03/28/08 03/28/08 03/26/12 03/28/11 03/26/13 03/24/14 03/23/15 03/21/16 03/20/17 03/20/18 03/19/19 03/19/19 03/19/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPS 7/7
MetLife Inc (NYSE:MET) 03/02/2020 4:10PM EST GuruFocus
Price: $ 44.56 +1.84(+4.31%) Market Cap: $ 40.81 B Enterprise Value: $37.45 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 7.37
Cash to Debt 0.99 Net-margin (%) 8.47
Forward P/E N/A
Equity to Asset 0.09 ROE (%) 9.24
F-Score: PE(NRI) 7.37
ROA (%) 0.82
9999 P/B 0.62
WACC vs 5.96% Revenue Growth (3Y)(%) 10.40
ROIC 11.62% P/S 0.60
WACC EBITDA Growth (3Y)(%) 17.30
ROIC PFCF 3.03
EPS Growth (3Y)(%) 24.60
POCF 3.03
EV-to-EBIT 4.83
PEG 14.80
Shiller P/E 10.90
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year MetLife--once a mutual company before the 2000 demutualization--is the largest life insurer in the U.S. by assets and
provides a variety of insurance and financial services products. Outside the United States, MetLife operates in Japan
2016 18,433 15,244 15,833 12,832 62,342 and more than 50 countries in Latin America, the Asia-Pacific region, Europe, and the Middle East.... (Read More)
2017 14,964 15,333 16,171 15,840 62,308 Competitors: LSE:PRU, SHSE:601601 , TSX:MFC, NYSE:AFL , NYSE:PRU, LSE:LGEN, TSX:GWO,
Good Signs 2018 14,805 21,185 16,289 15,662 67,941 GREY:ODMUF, TSX:PWF, SHSE:601336, TSE:8750, BOM:540777, BOM:540719, NYSE:GL, XPAR:CNP,
NYSE:LNC, JSE:SLM, BOM:540133, TSX:POW, XKRX:032830
Dividend Yield %: Close to 3- 2019 16,302 17,497 18,678 17,143 69,620
year high 2020 Insider Trades
PB Ratio: Close to 3-year low Quarterly Earnings per Share
PS Ratio: Close to 5-year low Mar Jun Sep Dec Full Year
2016 1.98 0.06 0.51 -1.94 0.61
2017 0.79 0.80 -0.09 2.14 3.64
DCF 2018 1.19 0.83 0.88 2.04 4.94
GuruFocus does not 2019 1.40 1.77 2.30 0.58 6.05
calculate intrinsic value: DCF 2020
(Earnings Based) for Quarterly Dividends Per Share
companies with one star
predictability or not rated. But Mar Jun Sep Dec Full Year
you can go to each stock's 2016 0.38 0.40 0.40 0.40 1.58
DCF page to calculate 2017 0.40 0.40 0.40 0.40 1.60
yourself. 2018 0.40 0.42 0.42 0.42 1.66
2019 0.42 0.44 0.44 0.44 1.74
2020
Reverse DCF
Growth Rate
GuruFocus does not
calculate reverse DCF growth Annual Rates(per share) 10-Y 5-Y 12-M
rate for companies with one Revenue Growth (%) 1.50 4.00 10.00
star predictability or not rated.
EBITDA Growth (%) 0.00 0.50 11.70
But you can go to each
stock's DCF page to calculate Free Cash Flow Growth (%) 7.10 -0.80 26.10
yourself. Book Value Growth (%) 3.40 0.50 31.30
EPS Growth (%) 0.00 5.90 23.40
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MET 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
51.22 59.11 62.60 61.87 68.46 50.16 58.73 65.76 63.29 61.10 64.17 54.37 54.84 57.77 67.01 73.72 73.76 Revenue per Share
5.70 7.03 6.93 8.95 8.27 -3.59 6.75 10.85 3.15 5.42 9.39 6.66 5.49 5.06 7.95 8.87 8.17 EBITDA per Share
5.26 6.56 6.64 8.35 7.76 -4.23 6.09 10.21 2.60 4.78 8.77 6.04 4.91 4.33 7.33 8.21 8.17 EBIT per Share
3.65 6.16 7.99 5.48 4.14 -2.89 2.86 5.76 1.12 2.91 5.42 4.62 0.67 3.62 4.91 6.06 6.05 Earnings per Share (diluted)
3.41 3.98 3.81 5.20 4.54 -2.94 2.81 5.74 1.08 2.91 5.42 3.44 3.13 4.53 4.91 6.06 6.05 eps without NRI
3.58 6.10 -- 3.64 6.75 -3.85 1.72 5.16 0.37 2.59 4.97 -- -- -- -- -- 3.12 Owner Earnings per Share (TTM)
8.62 6.49 5.08 12.99 12.80 3.94 8.98 9.62 15.94 14.45 14.33 12.45 13.33 11.39 11.58 14.60 14.68 Free Cashflow per Share
0.46 0.52 0.59 0.74 0.74 0.74 0.74 0.74 0.74 1.01 1.33 1.48 1.58 1.60 1.66 1.74 1.74 Dividends per Share
31.16 38.41 44.94 48.24 29.01 40.45 49.32 54.37 59.04 54.86 63.65 61.88 61.64 56.23 55.02 72.27 72.27 Book Value per Share
31.16 32.08 38.43 41.64 22.89 34.28 37.37 43.09 49.92 45.46 54.93 53.25 53.23 47.04 45.19 62.10 62.10 Tangible Book per Share
12.09 17.74 19.09 18.98 19.66 27.63 36.90 26.06 20.48 19.63 17.30 19.41 18.12 18.50 16.95 18.41 18.41 Total Debt per Share
36.10 43.67 52.59 54.91 31.06 31.50 39.60 27.79 29.35 48.05 48.20 42.96 48.02 50.56 41.06 50.97 44.56 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.54 17.91 19.58 12.12 10.47 -8.33 6.23 11.60 1.97 5.15 9.26 7.45 1.10 6.19 8.94 9.62 9.24 Return on Equity %
0.81 1.12 1.25 0.79 0.60 -0.43 0.42 0.84 0.16 0.39 0.71 0.60 0.10 0.50 0.73 0.83 0.82 Return on Assets %
9.22 9.55 9.33 12.10 20.66 -9.34 7.56 12.57 4.54 7.62 10.67 6.98 6.70 10.24 10.98 12.01 11.62 Return on Invested Capital %
7.64 9.15 9.54 9.46 6.86 9.02 10.97 9.55 8.24 12.55 11.01 9.02 9.22 9.24 8.34 3.37 5.96 Weighted Average Cost Of Capital (WACC) %
4.48 5.91 6.48 4.26 4.81 4.53 5.72 5.39 5.43 5.78 5.85 5.71 5.62 5.77 6.31 5.77 5.77 Effective Interest Rate on Debt %
7.13 10.56 13.04 9.15 6.29 -5.47 5.10 9.14 1.94 4.94 8.61 8.76 1.40 6.44 7.54 8.47 8.47 Net Margin %
16.82 10.98 8.11 21.00 18.70 7.85 15.28 14.63 25.18 23.65 22.34 22.91 24.30 19.71 17.28 19.80 19.80 FCF Margin %
0.39 0.46 0.43 0.39 0.68 0.68 0.75 0.48 0.35 0.36 0.27 0.31 0.29 0.33 0.31 0.26 0.26 Debt to Equity
0.06 0.06 0.06 0.06 0.05 0.06 0.07 0.07 0.08 0.07 0.08 0.08 0.08 0.08 0.08 0.09 0.09 Total Equity to Total Asset
0.03 0.03 0.03 0.03 0.03 0.04 0.05 0.04 0.03 0.03 0.02 0.02 0.02 0.03 0.02 0.02 0.02 Total Debt to Total Asset
11.32 10.65 9.56 8.68 9.61 7.89 8.23 9.20 8.35 7.92 8.20 6.89 6.84 7.70 9.65 9.75 9.63 Gross Profit to Total Asset %
0.11 0.11 0.10 0.09 0.10 0.08 0.08 0.09 0.08 0.08 0.08 0.07 0.07 0.08 0.10 0.10 0.10 Asset Turnover
0.14 0.13 0.16 0.14 0.16 -- 0.26 0.13 0.69 0.35 0.24 0.43 0.50 0.35 0.34 0.29 0.29 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MET 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
38,701 44,629 48,254 47,158 50,984 41,057 52,247 70,241 68,150 68,199 73,316 61,343 60,787 62,308 67,941 69,620 69,620 Revenue
38,701 44,629 48,254 47,158 50,984 41,057 52,247 70,241 68,150 68,199 73,316 61,343 60,787 62,308 67,941 69,620 69,620 Gross Profit
2,915 3,217 3,430 7,128 7,229 8,574 5,363 7,773 8,076 7,426 7,185 7,302 6,866 6,724 6,462 6,554 6,554 Selling, General, & Admin. Expense
35,786 41,412 44,824 40,030 43,755 32,483 46,884 62,468 60,074 60,773 66,131 54,041 53,921 55,584 61,479 63,066 63,066 Other Operating Expense
-408 -659 -900 -600 -720 -876 -1,687 -1,724 -1,356 -1,282 -1,216 -1,168 -1,157 -1,129 -1,122 -955 -955 Interest Expense
-408 -659 -900 -600 -720 -876 -1,687 -1,724 -1,356 -1,282 -1,216 -1,168 -1,157 -1,129 -1,122 -955 -955 Net Interest Income
3,563 4,293 4,168 5,762 5,061 -4,334 3,729 9,184 1,442 4,052 8,804 5,651 4,281 3,536 6,307 6,795 6,795 Other Income (Expense)
152 154 234 240 -69.00 32.00 4.00 8.00 -38.00 -25.00 -27.00 -12.00 -4.00 -10.00 -5.00 -10.00 -10.00 Other Income (Minority Interest)
3,563 4,293 4,168 5,762 5,061 -4,334 3,729 9,184 1,442 4,052 8,804 5,651 4,281 3,536 6,307 6,795 6,795 Pre-Tax Income
-991 -1,222 -1,097 -1,660 -1,580 2,015 -1,110 -2,793 -128 -661 -2,465 -1,590 -693 1,470 -1,179 -886 -886 Tax Provision
27.81 28.46 26.32 28.81 31.22 46.49 29.77 30.41 8.88 16.31 28.00 28.14 16.19 -41.57 18.69 13.04 13.04 Tax Rate %
2,572 3,071 3,071 4,102 3,481 -2,319 2,619 6,391 1,314 3,391 6,339 4,061 3,588 5,006 5,128 5,909 5,909 Net Income (Continuing Operations)
272 1,643 3,222 215 -203 41.00 44.00 24.00 48.00 2.00 -3.00 1,324 -2,734 -986 -- -- -- Net Income (Discontinued
Operations)
2,758 4,714 6,293 4,317 3,209 -2,246 2,667 6,423 1,324 3,368 6,309 5,373 850 4,010 5,123 5,899 5,899 Net Income
7.13 10.56 13.04 9.15 6.29 -5.47 5.10 9.14 1.94 4.94 8.61 8.76 1.40 6.44 7.54 8.47 8.47 Net Margin %
-- 63.00 134 137 125 122 122 268 122 122 122 158 103 103 141 178 178 Preferred dividends
3.67 6.21 8.09 5.62 4.19 -2.89 2.88 5.81 1.12 2.94 5.48 4.67 0.68 3.65 4.95 6.10 6.08 EPS (Basic)
3.65 6.16 7.99 5.48 4.14 -2.89 2.86 5.76 1.12 2.91 5.42 4.62 0.67 3.62 4.91 6.06 6.05 EPS (Diluted)
756 755 771 762 745 818 890 1,068 1,077 1,116 1,143 1,128 1,109 1,079 1,014 944 925 Shares Outstanding (Diluted
Average)
334 352 224 457 375 520 585 679 596 714 713 693 652 795 628 630 -- Depreciation, Depletion and
Amortization
4,305 5,304 5,345 6,819 6,156 -2,938 6,001 11,587 3,394 6,048 10,733 7,512 6,090 5,460 8,057 8,380 7,750 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MET 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- 7,107 9,961 24,207 10,112 13,046 10,461 15,738 7,585 10,808 12,752 12,651 12,701 15,821 16,598 16,598 Cash And Cash Equivalents
-- -- 2,709 2,544 13,878 8,374 9,387 17,310 16,906 13,955 8,621 9,299 6,523 4,870 3,937 3,850 3,850 Marketable Securities
-- -- 9,816 12,505 38,085 18,486 22,433 27,771 32,644 21,540 19,429 22,051 19,174 17,571 19,758 20,448 20,448 Cash, Cash Equivalents,
Marketable Securities
-- -- 14,490 13,373 16,973 16,752 19,830 22,481 21,634 21,859 22,244 22,702 15,445 18,423 19,644 20,443 20,443 Accounts Receivable
-- -- 24,306 25,878 55,058 35,554 42,263 50,252 54,278 43,399 41,673 44,914 34,639 35,994 39,402 40,891 40,891 Total Current Assets
-- -- 7,803 241,570 206,272 241,484 358,866 377,455 401,410 375,607 386,416 371,118 304,116 338,767 322,871 353,830 353,830 Investments And Advances
-- 4,797 4,897 4,814 5,008 5,047 11,781 11,935 9,953 10,542 9,872 9,477 9,220 9,590 9,422 9,308 9,308 Intangible Assets
-- -- 4,897 4,814 5,008 5,047 11,781 11,935 9,953 10,542 9,872 9,477 9,220 9,590 9,422 9,3089,308 Goodwill
356,808 476,848 490,709 286,887 235,340 257,229 317,996 356,584 371,140 455,748 464,376 452,424 550,789 335,541 315,843 336,434 336,434 Other Long Term Assets
356,808 481,645 527,715 559,149 501,678 539,314 730,906 796,226 836,781 885,296 902,337 877,933 898,764 719,892 687,538 740,463 740,463 Total Assets
-- -- 2,023 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Accounts Payable
-- -- 1,465 -- 342 -- 316 193 401 186 184 -- -- 311 441 363 363 Total Tax Payable
-- -- 3,488 789 1,365 -- 316 967 1,129 861 868 720 696 993 1,118 1,044 1,044 Accounts Payable & Accrued
Expense
1,445 1,414 1,449 667 2,659 912 306 686 100.00 175 100.00 100.00 242 477 268 235 235 Current Portion of Long-Term
Debt
-- -- -- -- -- -- 1,881 -- -- -- -- -- -- -- -- -- -- Current Deferred Taxes
Liabilities
-- -- -- -- -- -- 1,881 -- -- -- -- -- -- -- -- -- -- DeferredTaxAndRevenue
1,445 1,414 4,937 1,456 4,024 912 2,503 1,653 1,229 1,036 968 820 938 1,470 1,386 1,279 1,279 Total Current Liabilities
7,412 12,022 12,909 13,175 13,425 21,708 36,074 26,847 22,254 21,846 19,479 21,217 19,610 18,830 15,976 16,616 16,616 Long-Term Debt
-- -- -- -- -- -- -- 37.00 -- -- -- -- -- -- -- -- -- Capital Lease Obligation
7,412 12,022 12,909 13,175 13,425 21,708 36,074 26,884 22,254 21,846 19,479 21,217 19,610 18,830 15,976 16,616 16,616 Long-Term Debt & Capital
Lease Obligation
0.39 0.46 0.43 0.39 0.68 0.68 0.75 0.48 0.35 0.36 0.27 0.31 0.29 0.33 0.31 0.26 0.26 Debt to Equity
-- -- 2,278 1,502 -- -- -- 6,395 8,693 6,643 11,821 10,592 6,892 6,767 5,414 9,097 9,097 NonCurrent Deferred Liabilities
-- -- -- -- 251 377 488 370 384 543 507 470 171 194 217 238 238 Minority Interest
325,127 439,108 473,793 507,837 460,244 483,196 643,216 703,405 739,768 793,675 797,509 776,885 803,622 633,955 611,804 647,089 647,089 Other Long-Term Liabilities
333,984 452,544 493,917 523,970 477,693 505,816 681,793 738,337 771,944 823,200 829,777 809,514 831,062 661,022 634,580 674,081 674,081 Total Liabilities
8.00 8.00 8.00 8.00 8.00 8.00 10.00 11.00 11.00 11.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 Common Stock
-- 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 -- -- -- -- Preferred Stock
-- --
6,608 10,865 16,574 19,884 22,403 19,501 21,363 24,814 25,205 27,332 32,020 35,519 34,683 26,527 28,926 33,078 33,078 Retained Earnings
2,956 1,912 1,118 1,078 -14,253 -3,058 1,000 6,083 11,397 5,104 10,649 4,771 5,366 7,427 1,722 13,052 13,052 Accumulated other
comprehensive income (loss)
15,037 17,274 17,454 17,098 15,811 16,859 26,423 26,782 28,011 29,277 30,543 30,749 30,944 31,111 32,474 32,680 32,680 Additional Paid-In Capital
-1,785 -959 -1,357 -2,890 -236 -190 -172 -172 -172 -172 -1,172 -3,102 -3,474 -6,401 -10,393 -12,678 -12,678 Treasury Stock
22,824 29,101 33,798 35,179 23,734 33,121 48,625 57,519 64,453 61,553 72,053 67,949 67,531 58,676 52,741 66,144 66,144 Total Equity
0.06 0.06 0.06 0.06 0.05 0.06 0.07 0.07 0.08 0.07 0.08 0.08 0.08 0.08 0.08 0.09 0.09 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MET 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,758 4,714 6,293 4,317 3,278 -2,278 2,663 6,415 1,362 3,393 6,336 5,385 854 4,020 5,128 5,909 5,899 Net Income
2,758 4,714 6,293 4,317 3,278 -2,278 2,663 6,415 1,362 3,393 6,336 5,385 854 4,020 5,128 5,909 5,909 Net Income From Continuing
Operations
334 352 224 457 375 520 585 679 596 714 713 693 652 795 628 630 -- Depreciation, Depletion and
Amortization
-634 -54.00 1,280 -283 -1,929 -1,653 -1,023 58.00 -109 -582 -650 -831 -2,158 -991 -1,809 -514 -- Change In Receivables
5,697 6,215 4,829 101 920 -2,614 1,231 1,742 -883 871 2,075 715 -1,522 -2,796 940 233 -- Change In Payables And
Accrued Expense
8,795 5,118 10,901 5,339 8,821 -2,102 5,735 8,369 10,681 8,274 12,332 11,626 7,833 5,609 8,204 7,425 -- Change In Working Capital
-5,377 -5,285 -13,503 -211 -1,772 7,663 -998 -5,190 2,653 3,750 -3,005 -3,652 5,175 1,859 -2,222 -178 7,877 Cash Flow from Others
6,510 4,899 3,915 9,902 10,702 3,803 7,985 10,273 17,160 16,131 16,376 14,052 14,774 12,283 11,738 13,786 13,786 Cash Flow from Operations
-- -- -- -- -1,170 -579 -- -- -- -- -- -- -- -- -- -- -- Purchase Of Property, Plant,
Equipment
-22.00 -10,776 -115 -737 -2,425 -69.00 -4,029 -1,306 -1,339 -3,196 -2,041 -1,429 -1,313 -2,360 -1,406 -1,706 -1,706 Purchase Of Business
44.00 -- 413 526 729 940 522 1,512 1,550 1,200 1,259 1,827 1,698 1,082 675 625 625 Sale Of Business
-97,193 -1,038 -3,575 -116,437 -100,129 -89,931 -104,210 -121,917 -120,469 -126,026 -135,242 -154,942 -154,672 -115,470 -109,469 -91,901 -91,901 Purchase Of Investment
95,158 2,355 1,161 113,855 111,034 75,799 92,895 101,174 107,489 122,770 125,943 149,762 157,428 104,780 111,667 81,180 81,180 Sale Of Investment
-- -- -- -- -1,170 -579 -- -- -- -- -- -- -- -- -- -- -- Net Intangibles Purchase And
Sale
-12,397 -1,817 -690 -7,851 -9,540 484 -3,481 -1,681 840 -9,913 -4,974 -5,616 -8,991 -4,908 -7,101 -5,784 -5,784 Cash From Other Investing
Activities
-14,410 -11,276 -2,806 -10,644 -2,671 -13,935 -18,303 -22,218 -11,929 -15,165 -15,055 -10,398 -5,850 -16,876 -5,634 -17,586 -17,586 Cash Flow from Investing
46.00 72.00 83.00 -- 3,261 1,035 3,529 2,950 1,000 1,000 1,000 -- -- -- -- -- -- Issuance of Stock
-1,000 -- -500 -1,705 -1,250 -- -- -- -- -- -1,000 -1,930 -372 -2,927 -3,992 -2,285 -2,285 Repurchase of Stock
-- 2,100 -- -131 -- -- -- -2,951 -- -- -- -19.00 -- -- 1,274 -- -- Net Issuance of Preferred Stock
-2,178 2,688 -845 3,524 -11,218 -5,224 3,423 -316 -340 -299 -1,937 2,455 -1,279 2,584 -1,847 476 476 Net Issuance of Debt
-343 -457 -584 -678 -717 -732 -906 -909 -933 -1,241 -1,621 -1,769 -1,839 -4,613 -1,819 -1,821 -1,821 Cash Flow for Dividends
11,748 1,601 2,168 2,932 16,113 818 7,335 10,608 308 -8,367 5,814 45.00 -7.00 4,050 3,583 8,198 8,198 Other Financing
8,273 5,932 239 3,942 6,189 -4,103 13,381 9,382 35.00 -8,907 2,256 -1,218 -3,497 -906 -2,801 4,568 4,568 Cash Flow from Financing
373 -445 1,348 3,261 13,871 -14,127 2,934 -2,585 5,277 -8,153 3,223 1,944 5,125 -5,176 3,120 777 777 Net Change in Cash
-- -- -- -- -1,170 -579 -- -- -- -- -- -- -- -- -- Capital Expenditure
-- --
6,510 4,899 3,915 9,902 9,532 3,224 7,985 10,273 17,160 16,131 16,376 14,052 14,774 12,283 11,738 13,786 13,786 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MET 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9.89 7.04 6.59 10.02 7.48 -- 13.66 4.82 26.02 16.51 8.89 9.43 78.73 13.89 8.31 8.42 7.37 PE Ratio(TTM)
10.09 7.16 -- 15.09 4.60 -- 23.06 5.39 80.19 18.59 9.70 -- -- -- -- -- 14.30 Price to Owner Earnings
(TTM)
1.16 1.14 1.17 1.14 1.07 0.78 0.80 0.51 0.50 0.88 0.76 0.69 0.78 0.90 0.75 0.71 0.62 Price to Book
1.16 1.36 1.37 1.32 1.36 0.92 1.06 0.64 0.59 1.06 0.88 0.81 0.90 1.07 0.91 0.82 0.72 Price to Tangible Book
4.19 6.67 10.32 4.22 2.45 7.25 4.44 2.89 1.83 3.34 3.37 3.45 3.60 4.43 3.55 3.47 3.03 Price-to-Free-Cash-Flow
Ratio
4.19 6.67 10.32 4.22 2.18 6.83 4.44 2.89 1.83 3.34 3.37 3.45 3.60 4.43 3.55 3.47 3.03 Price-to-Operating-Cash-
Flow Ratio
0.70 0.74 0.84 0.84 0.45 0.63 0.67 0.42 0.46 0.79 0.75 0.79 0.85 0.87 0.61 0.69 0.60 PS Ratio
-- 0.30 0.34 0.33 0.57 -- -- -- -- -- -- 2.57 940 -- -- 11.39 14.80 PEG Ratio
0.91 1.04 0.91 0.83 0.07 0.74 1.02 0.42 0.32 0.81 0.75 0.76 0.86 0.88 0.53 0.62 0.54 EV-to-Revenue
8.89 9.32 15.29 13.91 0.59 -42.15 9.87 2.71 7.91 10.30 5.51 6.88 13.64 11.72 4.85 5.59 4.83 EV-to-EBITDA
8.89 9.32 15.29 13.91 0.63 -42.15 9.87 2.71 7.91 10.30 5.51 6.88 13.64 11.72 4.85 5.59 4.83 EV-to-EBIT
11.25 10.73 6.54 7.19 159 -2.37 10.13 36.90 12.64 9.71 18.15 14.53 7.33 8.53 20.62 17.89 20.70 Return on Capital %
-- 37.12 41.03 35.57 41.82 0.68 2.51 3.58 1.96 1.19 -- 34.52 28.50 23.30 20.84 26.22 29.88 Forward Rate of Return
-- -- -- -- -- 9.06 10.77 6.51 7.02 11.49 11.30 10.71 15.01 16.81 13.35 12.47 10.90 Shiller PE Ratio
1.27 1.19 1.12 1.35 2.38 2.35 1.87 2.66 2.52 2.10 2.75 3.43 3.28 3.16 4.04 3.41 3.94 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
26,443 33,082 39,547 40,042 25,410 25,793 39,039 29,401 32,041 53,914 54,559 47,171 52,607 52,764 39,361 46,653 40,809 Market Cap
35,300 46,519 44,090 41,380 3,661 30,305 53,475 29,571 22,136 54,939 55,217 46,907 53,456 54,694 36,064 43,294 37,450 Enterprise Value
36.10 43.67 52.59 54.91 31.06 31.50 39.60 27.79 29.35 48.05 48.20 42.96 48.02 50.56 41.06 50.97 44.56 Month End Stock Price
-456 -597 -644 -701 -538 -596 -669 -672 -678 -715 -716 -718 -741 -617 -642 -714 -714 Net Cash (per share)
-456 -597 -629 -688 -522 -580 -654 -656 -663 -700 -702 -702 -731 -604 -626 -698 -698 Net-Net Working Capital (per
share)
-- 103 108 125 117 106 100 110 131 133 149 165 176 180 180 200 200 Projected FCF (per share)
-- -- -- -- -- -- 40.64 44.24 42.17 41.40 45.07 37.49 38.53 39.60 46.08 51.61 51.61 Median PS (per share)
-- 101 95.25 133 54.54 -- -- -- -- -- -- 27.45 -- -- -- -- -- Peter Lynch Fair Value (per
share)
48.90 53.60 57.40 69.80 48.35 -- 48.61 74.60 34.83 54.56 81.85 64.20 61.23 69.24 70.66 92.01 91.93 Graham Number (per share)
-12.71 -18.56 24.85 -25.56 11.48 -17.38 -23.70 -9.32 0.15 -4.58 -6.04 64.12 -- -- -- -- 0.58 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-- -- -- -- -2.44 -3.61 -2.72 -2.52 -2.52 -2.52 -2.52 -2.52 -2.52 -2.52 -2.52 -- -- Beneish M-Score
0.10 0.12 0.09 0.07 0.03 0.09 0.13 0.10 0.09 0.09 0.09 0.09 0.09 0.07 0.07 0.10 0.09 Scaled Net Operating
Assets
2.99 2.30 0.98 0.90 -0.96 1.46 1.78 2.31 -0.47 0.27 0.55 0.20 -0.90 1.20 -0.14 1.31 1.31 Sloan Ratio (%)
36.70 46.47 53.32 63.15 56.14 36.39 41.97 43.34 35.16 48.14 50.99 51.42 51.14 55.73 54.77 51.36 53.28 Highest Stock Price
29.08 33.73 42.90 52.59 14.69 10.78 29.98 23.70 24.79 29.35 41.94 41.05 31.38 44.39 38.24 40.87 41.41 Lowest Stock Price
3.26 -3.42 0.73 3.03 -12.19 -0.09 -20.40 -7.32 -3.19 -2.78 -0.88 2.99 0.23 4.74 8.14 4.52 4.52 Shares Buyback Ratio (%)
9.02 15.41 5.90 -1.17 10.65 -26.72 17.08 11.97 -3.77 -3.46 5.03 -15.28 0.86 5.35 15.99 10.01 10.07 YoY Rev. per Sh. Growth
(%)
24.15 68.77 29.71 -31.41 -24.45 -170 199 101 -80.56 160 86.25 -14.76 -85.50 440 35.64 23.42 22.47 YoY EPS Growth (%)
28.86 23.31 -1.30 29.02 -7.61 -143 288 60.81 -70.94 71.89 73.39 -29.12 -17.48 -7.84 56.96 11.65 11.23 YoY EBITDA Growth (%)
-- 36.36 41.03 31.72 11.96 -- -- -- -- -- -- 3.67 0.05 -2.18 -10.93 0.74 0.50 EBITDA 5-Y Growth (%)
751 749 761 744 735 818 882 1,060 1,071 1,106 1,129 1,118 1,101 1,070 1,006 938 918 Shares Outstanding (Basic
Average)
732 758 752 729 818 819 986 1,058 1,092 1,122 1,132 1,098 1,096 1,044 959 915 920 Shares Outstanding (EOP)
0.80 1.04 1.19 1.47 1.56 1.96 1.87 2.18 1.92 2.23 1.88 1.47 1.54 1.42 1.07 0.89 0.88 Beta
03/07/05 02/28/06 03/01/07 02/28/08 03/02/09 02/26/10 02/25/11 02/28/12 02/27/13 02/27/14 02/27/15 02/25/16 03/01/17 03/01/18 02/22/19 02/21/20 Filing Date
02/28/08 02/28/08 02/28/08 03/02/09 02/26/10 02/25/11 02/27/13 02/27/14 02/27/15 02/25/16 03/01/17 03/01/18 02/22/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MET 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MET 7/7
Seagate Technology PLC (NAS:STX) 03/02/2020 4:00PM EST GuruFocus
Price: $ 50.37 +2.42(+5.05%) Market Cap: $ 13.14 B Enterprise Value: $15.54 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 8.16
Cash to Debt 0.42 Operating margin (%) 11.95
Forward P/E N/A
Equity to Asset 0.21 Net-margin (%) 17.03
PE(NRI) 8.16
Interest Coverage 5.59 ROE (%) 90.36
F-Score:
P/B 7.18
ROA (%) 19.30
6 P/S 1.38
Z-Score: ROC (Joel Greenblatt) (%) 65.44
2.13 PFCF 11.65
Revenue Growth (3Y)(%) -0.50
M-Score: POCF 7.56
-2.45 EBITDA Growth (3Y)(%) 20.90
EV-to-EBIT 12.40
WACC vs 8.54% EPS Growth (3Y)(%) 105.00
ROIC 43.57% Shiller P/E 11.59
WACC
ROIC Current Ratio 1.54
Quick Ratio 1.11
Days Inventory 52.54
Days Sales Outstanding 40.76
Warning Signs Quarterly Revenues Company Description
Tax Rate: Tax Rate is too low Mar Jun Sep Dec Full Year Seagate Technology is a major supplier of hard disk drives. The company designs, develops, and manufactures a
broad range of HDDs used in PCs, game consoles, DVRs, and data centers for the likes of enterprises and cloud
2016 2,595 2,654 2,797 2,894 10,940 vendors.... (Read More)
Insider Sell: Insider Selling
2017 2,674 2,406 2,632 2,914 10,626 Competitors: NAS:NTAP, NYSE:ANET, SZSE:000977 , HKSE:00992 , NAS:WDC, TPE:2382 , XSWX:LOGN,
2018 2,803 2,835 2,991 2,715 11,344 TPE:2395, SHSE:603019, SZSE:000066, TPE:4938, TSE:6724, TPE:2357, SZSE:000021, NYSE:PSTG, TPE:6669,
SHSE:600100, HKSE:03396, SZSE:300223, TPE:2301
Good Signs 2019 2,313 2,371 2,578 2,696 9,958
2020 Insider Trades
Operating Margin %:
Expansion Quarterly Earnings per Share
Mar Jun Sep Dec Full Year
DCF 2016 -0.07 0.23 0.55 1.00 1.71
2017 0.65 0.38 0.62 0.55 2.20
GuruFocus does not 2018 1.31 1.57 1.54 1.34 5.76
calculate intrinsic value: DCF 2019 0.69 3.54 0.74 1.20 6.17
(Earnings Based) for 2020
companies with one star
predictability or not rated. But Quarterly Dividends Per Share
you can go to each stock's Mar Jun Sep Dec Full Year
DCF page to calculate 2016 0.63 0.63 0.63 0.63 2.52
yourself. 2017 0.63 0.63 0.63 0.63 2.52
2018 0.63 0.63 0.63 0.63 2.52
Reverse DCF 2019 0.63 0.63 0.63 0.65 2.54
2020
GuruFocus does not
calculate reverse DCF growth Growth Rate
rate for companies with one Annual Rates(per share) 10-Y 5-Y 12-M
star predictability or not rated.
But you can go to each Revenue Growth (%) 6.30 -1.90 -6.40
stock's DCF page to calculate EBITDA Growth (%) 0.00 -0.60 -27.40
yourself. Free Cash Flow Growth (%) 19.20 -3.70 -11.90
Book Value Growth (%) 2.80 2.80 2.70
EPS Growth (%) 0.00 7.70 7.10
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STX 1/7
Per Share Data
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
12.50 15.05 17.57 19.35 23.62 20.09 22.17 23.49 33.88 37.57 39.55 41.51 36.95 36.02 38.30 36.46 36.46 Revenue per Share
1.84 2.36 2.84 2.55 4.29 -3.57 4.91 3.31 8.93 7.64 7.58 9.12 4.25 5.97 7.71 7.50 6.24 EBITDA per Share
1.01 1.44 1.68 1.10 2.72 -5.47 3.39 1.70 7.08 5.35 5.05 6.58 1.55 3.47 5.66 5.60 4.59 EBIT per Share
1.06 1.41 1.60 1.56 2.36 -6.40 3.14 1.09 6.49 4.81 4.52 5.26 0.82 2.58 4.05 7.06 6.17 Earnings per Share (diluted)
1.06 1.41 1.60 1.56 2.36 -6.40 3.14 1.09 6.49 4.81 4.52 5.26 0.82 2.58 4.05 7.06 6.17 eps without NRI
-- -- -- 0.76 3.38 -5.32 2.14 1.14 6.08 6.15 5.21 5.51 3.02 3.74 5.16 4.57 4.65 Owner Earnings per Share (TTM)
0.06 1.47 0.86 0.06 2.99 0.39 2.52 0.90 5.96 5.92 5.76 5.75 3.62 4.96 5.98 4.07 4.32 Free Cashflow per Share
0.20 0.26 0.32 0.38 0.42 0.27 -- 0.18 0.86 1.40 1.67 2.05 2.43 2.52 2.52 2.52 2.54 Dividends per Share
4.04 5.33 9.05 8.86 9.45 3.15 5.79 5.80 8.83 9.72 8.67 9.57 5.34 4.67 5.80 8.03 7.01 Book Value per Share
4.04 5.32 4.22 4.20 4.38 3.00 5.79 5.73 6.38 7.27 5.93 5.62 -0.31 -0.53 0.84 3.03 1.96 Tangible Book per Share
1.62 1.55 1.68 3.86 4.18 5.47 5.32 8.27 7.23 7.73 12.01 13.17 13.70 17.21 16.78 15.81 15.87 Total Debt per Share
14.43 17.55 22.64 22.07 19.13 10.46 13.04 16.16 24.73 44.83 56.82 47.50 24.36 38.75 56.47 47.12 50.37 Month End Stock Price
Ratios
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
33.36 32.17 21.67 18.35 27.07 -102 75.22 19.70 96.04 52.57 49.63 59.56 10.76 52.22 78.05 105 90.36 Return on Equity %
14.18 15.39 11.36 9.60 12.88 -36.32 20.99 5.85 29.61 19.00 16.76 18.02 2.75 8.83 12.66 22.00 19.30 Return on Assets %
41.15 50.44 48.31 27.23 55.41 -102 68.93 33.44 132 81.23 66.01 76.37 17.74 49.52 90.21 87.19 65.44 Return on Capital %
54.39 48.76 27.08 20.71 24.98 -3.66 70.49 26.28 87.48 50.40 44.34 29.59 12.15 27.79 33.90 48.72 43.57 Return on Invested Capital %
-- 19.80 20.36 20.36 11.39 14.32 15.63 20.19 18.77 19.52 18.72 12.83 6.19 8.86 8.32 10.01 8.54 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 6.05 6.69 7.12 7.56 7.59 5.82 5.13 4.68 4.87 4.80 4.94 4.98 Effective Interest Rate on Debt %
23.44 22.15 23.21 19.23 25.22 14.38 28.12 19.56 31.35 27.45 28.02 27.72 23.43 29.47 30.08 28.22 26.65 Gross Margin %
8.08 9.56 9.54 5.66 11.52 -1.38 16.35 7.51 20.83 14.58 13.12 10.70 5.56 11.44 15.41 14.10 11.95 Operating Margin %
8.50 9.36 9.12 8.04 9.93 -31.87 14.12 4.66 19.16 12.81 11.44 12.68 2.22 7.17 10.57 19.36 17.03 Net Margin %
0.48 9.76 4.88 0.33 12.65 1.94 11.35 3.84 17.58 15.75 14.57 13.85 9.79 13.76 15.62 11.15 11.88 FCF Margin %
0.40 0.29 0.19 0.44 0.44 1.74 0.92 1.43 0.82 0.80 1.38 1.38 2.57 3.68 2.89 1.97 2.26 Debt to Equity
0.47 0.49 0.55 0.50 0.45 0.22 0.33 0.27 0.35 0.38 0.30 0.31 0.19 0.15 0.18 0.24 0.21 Total Equity to Total Asset
0.19 0.14 0.10 0.22 0.20 0.38 0.30 0.38 0.28 0.30 0.41 0.42 0.50 0.54 0.51 0.48 0.46 Total Debt to Total Asset
39.12 36.42 28.90 22.98 32.72 16.39 41.79 24.57 48.46 40.73 41.06 39.40 28.96 36.31 36.02 32.05 30.20 Gross Profit to Total Asset %
1.67 1.64 1.25 1.20 1.30 1.14 1.49 1.26 1.55 1.48 1.47 1.42 1.24 1.23 1.20 1.14 1.13 Asset Turnover
0.19 0.18 0.20 0.24 0.18 -- -- 0.17 0.13 0.29 0.37 0.39 2.96 0.98 0.62 0.36 0.42 Dividend Payout Ratio
40.46 52.87 57.29 44.44 40.50 38.45 44.84 49.74 56.66 42.47 45.98 46.09 43.11 40.63 38.64 34.74 40.76 Days Sales Outstanding
56.68 68.78 87.36 51.76 63.45 68.39 79.32 85.33 81.36 59.25 57.24 56.61 64.80 78.12 80.65 69.50 93.45 Days Accounts Payable
29.41 27.31 34.13 33.52 33.40 33.30 29.95 33.69 31.70 30.90 33.98 36.35 39.75 44.44 47.49 49.50 52.54 Days Inventory
13.19 11.40 4.06 26.20 10.45 3.36 -4.53 -1.90 7.00 14.12 22.72 25.83 18.06 6.95 5.48 14.74 -0.15 Cash Conversion Cycle
12.41 13.36 10.69 10.89 10.93 10.96 12.19 10.83 11.52 11.81 10.74 10.04 9.18 8.21 7.69 7.37 6.95 Inventory Turnover
0.77 0.78 0.77 0.81 0.75 0.86 0.72 0.80 0.69 0.73 0.72 0.72 0.77 0.71 0.70 0.72 0.73 COGS to Revenue
0.06 0.06 0.07 0.07 0.07 0.08 0.06 0.07 0.06 0.06 0.07 0.07 0.08 0.09 0.09 0.10 0.11 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STX 2/7
Income Statement
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
6,224 7,553 9,206 11,360 12,708 9,805 11,395 10,971 14,939 14,351 13,724 13,739 11,160 10,771 11,184 10,390 9,958 Revenue
4,765 5,880 7,069 9,175 9,503 8,395 8,191 8,825 10,255 10,411 9,878 9,930 8,545 7,597 7,820 7,458 7,304 Cost of Goods Sold
1,459 1,673 2,137 2,185 3,205 1,410 3,204 2,146 4,684 3,940 3,846 3,809 2,615 3,174 3,364 2,932 2,654 Gross Profit
23.44 22.15 23.21 19.23 25.22 14.38 28.12 19.56 31.35 27.45 28.02 27.72 23.43 29.47 30.08 28.22 26.65 Gross Margin %
290 306 447 589 659 537 437 445 528 635 722 857 635 606 562 453 460 Selling, General, & Admin. Expense
666 645 805 904 1,028 953 877 875 1,006 1,133 1,226 1,353 1,237 1,232 1,026 991 984 Research & Development
-- -- 7.00 49.00 54.00 55.00 27.00 2.00 38.00 79.00 98.00 129 123 104 53.00 23.00 20.00 Other Operating Expense
503 722 878 643 1,464 -135 1,863 824 3,112 2,093 1,800 1,470 620 1,232 1,723 1,465 1,190 Operating Income
8.08 9.56 9.54 5.66 11.52 -1.38 16.35 7.51 20.83 14.58 13.12 10.70 5.56 11.44 15.41 14.10 11.95 Operating Margin %
-- -- -- -- -- 17.00 6.00 7.00 8.00 8.00 8.00 6.00 3.00 12.00 38.00 84.00 53.00 Interest Income
-- -- -- -- -- -143 -174 -214 -241 -214 -195 -207 -193 -222 -236 -224 -213 Interest Expense
-- -- -- -- -- -126 -168 -207 -233 -206 -187 -201 -190 -210 -198 -140 -160 Net Interest Income
-75.00 10.00 46.00 -82.00 -135 -2,553 -126 -38.00 3.00 -56.00 -57.00 701 -156 -207 -107 47.00 10.00 Other Income (Expense)
428 732 924 561 1,329 -2,814 1,569 579 2,882 1,831 1,556 1,970 274 815 1,418 1,372 1,040 Pre-Tax Income
101 -25.00 -84.00 352 -67.00 -311 40.00 -68.00 -20.00 7.00 14.00 -228 -26.00 -43.00 -236 640 656 Tax Provision
-23.60 3.42 9.09 -62.75 5.04 -11.05 -2.55 11.74 0.69 -0.38 -0.90 11.57 9.49 5.28 16.64 -46.65 -63.08 Tax Rate %
529 707 840 913 1,262 -3,125 1,609 511 2,862 1,838 1,570 1,742 248 772 1,182 2,012 1,696 Net Income (Continuing Operations)
529 707 840 913 1,262 -3,125 1,609 511 2,862 1,838 1,570 1,742 248 772 1,182 2,012 1,696 Net Income
8.50 9.36 9.12 8.04 9.93 -31.87 14.12 4.66 19.16 12.81 11.44 12.68 2.22 7.17 10.57 19.36 17.03 Net Margin %
1.17 1.51 1.70 1.64 2.46 -6.40 3.28 1.13 6.72 4.97 4.66 5.38 0.83 2.61 4.10 7.13 6.22 EPS (Basic)
1.06 1.41 1.60 1.56 2.36 -6.40 3.14 1.09 6.49 4.81 4.52 5.26 0.82 2.58 4.05 7.06 6.17 EPS (Diluted)
498 502 524 587 538 488 514 467 441 382 347 331 302 299 292 285 265 Shares Outstanding (Diluted
Average)
414 464 612 851 844 931 780 754 814 873 879 841 815 749 598 541 454 Depreciation, Depletion and
Amortization
917 1,186 1,490 1,494 2,308 -1,740 2,523 1,547 3,937 2,918 2,630 3,018 1,282 1,786 2,252 2,137 1,707 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STX 3/7
Balance Sheet
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
422 746 910 988 990 1,427 2,263 2,677 1,707 1,708 2,634 2,479 1,125 2,539 1,853 2,220 1,744 Cash And Cash Equivalents
761 1,090 823 156 151 114 252 474 411 480 20.00 6.00 6.00 -- 4.00 2.00 -- Marketable Securities
1,183 1,836 1,733 1,144 1,141 1,541 2,515 3,151 2,118 2,188 2,654 2,485 1,131 2,539 1,857 2,222 1,744 Cash, Cash Equivalents, Marketable
Securities
690 1,094 1,445 1,383 1,410 1,033 1,400 1,495 2,319 1,670 1,729 1,735 1,318 1,199 1,184 989 1,112 Accounts Receivable
91.00 118 209 277 352 201 263 286 265 213 324 352 307 350 329 336 346 Inventories, Raw Materials &
Components
39.00 70.00 126 85.00 111 120 145 201 245 231 267 239 297 257 347 217 365 Inventories, Work In Process
319 243 556 432 482 266 349 385 399 410 394 402 264 375 377 417 437 Inventories, Finished Goods
449 431 891 794 945 587 757 872 909 854 985 993 868 982 1,053 970 1,148 Total Inventories
138 141 264 480 776 1,133 746 388 363 371 297 289 216 321 216 182 148 Other Current Assets
2,461 3,502 4,333 3,801 4,272 4,294 5,418 6,425 6,310 5,412 5,777 5,568 3,533 5,041 4,310 4,363 4,152 Total Current Assets
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 1,275 7.00 -- Investments And Advances
23.00 22.00 30.00 21.00 21.00 22.00 22.00 29.00 29.00 44.00 45.00 48.00 69.00 54.00 55.00 48.00 -- Land And Improvements
360 476 646 731 992 1,083 1,164 1,203 1,233 1,401 1,452 1,595 1,900 1,899 1,805 1,795 -- Buildings And Improvements
1,874 2,419 3,218 4,004 4,404 5,034 5,309 5,988 6,495 6,838 7,159 7,440 7,681 7,536 7,472 7,726 -- Machinery, Furniture, Equipment
283 266 392 348 428 128 347 163 263 261 323 547 234 144 193 266 -- Construction In Progress
2,540 3,183 4,286 5,104 5,845 6,267 6,842 7,383 8,020 8,544 8,979 9,630 9,884 9,633 9,525 9,835 10,095 Gross Property, Plant and Equipment
-1,239 -1,654 -2,180 -2,826 -3,381 -4,038 -4,579 -5,138 -5,736 -6,275 -6,843 -7,352 -7,724 -7,758 -7,733 -7,966 -8,046 Accumulated Depreciation
1,301 1,529 2,106 2,278 2,464 2,229 2,263 2,245 2,284 2,269 2,136 2,278 2,160 1,875 1,792 1,869 2,049 Property, Plant and Equipment
-- 3.00 2,782 2,488 2,463 73.00 -- 32.00 969 881 896 1,244 1,685 1,519 1,425 1,348 1,320 Intangible Assets
-- -- 2,475 2,300 2,352 -- -- 31.00 463 476 537 874 1,237 1,238 1,237 1,237 1,237 Goodwill
180 210 323 905 921 491 566 523 543 681 683 755 835 833 608 1,298 1,411 Other Long Term Assets
3,942 5,244 9,544 9,472 10,120 7,087 8,247 9,225 10,106 9,243 9,492 9,845 8,213 9,268 9,410 8,885 8,932 Total Assets
740 1,108 1,692 1,301 1,652 1,573 1,780 2,063 2,286 1,690 1,549 1,540 1,517 1,626 1,728 1,420 1,870 Accounts Payable
-- -- -- -- -- -- 14.00 -- -- -- -- -- -- -- -- -- -- Total Tax Payable
1,244 1,776 3,007 2,319 2,927 2,423 2,405 2,704 3,052 2,273 2,102 2,087 2,065 2,389 2,438 2,063 2,503 Accounts Payable & Accrued
Expense
4.00 4.00 330 330 360 771 329 560 -- 3.00 -- -- -- -- 499 -- 6.00 Current Portion of Long-Term Debt
-- -- -- -- -- -- 263 199 344 335 296 256 184 237 253 169 191 Other Current Liabilities
1,248 1,780 3,337 2,649 3,287 3,194 2,997 3,463 3,396 2,611 2,398 2,343 2,249 2,626 3,190 2,232 2,700 Total Current Liabilities
739 736 640 1,733 1,670 1,926 2,173 2,952 2,863 2,774 3,920 4,155 4,091 5,021 4,320 4,253 4,135 Long-Term Debt
739 736 640 1,733 1,670 1,926 2,173 2,952 2,863 2,774 3,920 4,155 4,091 5,021 4,320 4,253 4,135 Long-Term Debt & Capital Lease
Obligation
0.40 0.29 0.19 0.44 0.44 1.74 0.92 1.43 0.82 0.80 1.38 1.38 2.57 3.68 2.89 1.97 2.26 Debt to Equity
-- -- -- -- -- -- -- -- -- 11.00 -- -- -- -- -- -- -- Minority Interest
100.00 187 355 353 577 413 353 347 350 352 342 329 280 257 235 238 267 Other Long-Term Liabilities
2,087 2,703 4,332 4,735 5,534 5,533 5,523 6,762 6,609 5,737 6,660 6,827 6,620 7,904 7,745 6,723 7,102 Total Liabilities
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 6,667 Common Stock
-- --
1,214 1,921 2,362 1,537 1,101 -2,148 -1,123 -1,511 -1,444 -1,778 -2,677 -2,686 -4,311 -4,771 -4,696 -4,349 -4,804 Retained Earnings
-9.00 -12.00 -8.00 -4.00 -16.00 -6.00 -4.00 -6.00 -9.00 -13.00 -2.00 -30.00 -25.00 -17.00 -16.00 -34.00 -33.00 Accumulated other comprehensive
income (loss)
650 632 2,858 3,204 3,501 3,708 3,851 3,980 4,950 5,286 5,511 5,734 5,929 6,152 6,377 6,545 -- Additional Paid-In Capital
1,855 2,541 5,212 4,737 4,586 1,554 2,724 2,463 3,497 3,495 2,832 3,018 1,593 1,364 1,665 2,162 1,830 Total Equity
0.47 0.49 0.55 0.50 0.45 0.22 0.33 0.27 0.35 0.38 0.30 0.31 0.19 0.15 0.18 0.24 0.21 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STX 4/7
Cashflow Statement
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
529 707 840 913 1,262 -3,125 1,609 511 2,862 1,838 1,570 1,742 248 772 1,182 2,012 1,696 Net Income
529 707 840 913 1,262 -3,125 1,609 511 2,862 1,838 1,570 1,742 248 772 1,182 2,012 1,696 Net Income From Continuing
Operations
414 464 612 851 844 931 780 754 814 873 879 841 815 749 598 541 454 Depreciation, Depletion and
Amortization
-80.00 -403 -190 34.00 -67.00 372 -367 -263 -906 933 221 -2.00 464 122 16.00 204 -55.00 Change In Receivables
-130 18.00 -113 106 -151 358 -170 -115 99.00 102 -20.00 29.00 145 -114 -71.00 80.00 -45.00 Change In Inventory
89.00 368 91.00 -391 351 -492 -167 358 211 -708 -270 -170 -66.00 168 19.00 -349 327 Change In Payables And Accrued
Expense
-208 236 -76.00 -683 324 300 -569 -116 -424 274 -1.00 -139 464 186 39.00 -107 263 Change In Working Capital
16.00 11.00 23.00 -365 10.00 306 -36.00 46.00 -28.00 -70.00 -67.00 2.00 -2.00 3.00 193 -690 -695 Change In DeferredTax
-- -- -- -- -- 83.00 57.00 51.00 51.00 76.00 118 137 120 137 112 99.00 107 Stock Based Compensation
-116 10.00 58.00 227 98.00 8.00 34.00 18.00 -13.00 56.00 59.00 67.00 9.00 27.00 -11.00 -97.00 -3.00 Cash Flow from Others
635 1,428 1,457 943 2,538 823 1,932 1,264 3,262 3,047 2,558 2,650 1,680 1,916 2,113 1,761 1,822 Cash Flow from Operations
-605 -691 -1,008 -906 -930 -633 -639 -843 -636 -786 -559 -747 -587 -434 -366 -602 -639 Purchase Of Property, Plant,
Equipment
-- -- -- 55.00 29.00 7.00 21.00 77.00 20.00 29.00 3.00 -- -- -- 71.00 144 -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -561 -36.00 -285 -453 -634 -- -- -- -- Purchase Of Business
-4,143 -4,796 -3,220 -322 -486 -155 -373 -487 -454 -351 -88.00 -5.00 -- -37.00 -1,279 -18.00 -55.00 Purchase Of Investment
3,822 4,465 3,528 997 460 203 233 260 516 334 641 23.00 -- 6.00 -- 1,322 -- Sale Of Investment
-36.00 -47.00 139 -226 -64.00 -40.00 6.00 12.00 1.00 -15.00 -34.00 -105 10.00 6.00 -14.00 -- 1,385 Cash From Other Investing Activities
-962 -1,069 -561 -402 -991 -618 -752 -981 -1,114 -825 -322 -1,287 -1,211 -459 -1,588 846 691 Cash Flow from Investing
96.00 90.00 118 219 178 -- 86.00 83.00 344 259 107 98.00 79.00 86.00 113 69.00 76.00 Issuance of Stock
-- -- -399 -1,526 -1,479 -- -584 -822 -2,426 -1,654 -1,912 -1,087 -1,090 -460 -361 -963 -1,277 Repurchase of Stock
-6.00 -3.00 -340 1,072 -34.00 694 -225 947 -670 -238 1,056 170 -22.00 916 -214 -574 -721 Net Issuance of Debt
-90.00 -122 -155 -212 -216 -132 -- -74.00 -372 -518 -557 -664 -727 -561 -726 -713 -687 Cash Flow for Dividends
-- -- 44.00 -16.00 6.00 -330 465 80.00 350 188 102 86.00 19.00 59.00 90.00 38.00 61.00 Other Financing
-- -35.00 -732 -463 -1,545 232 -344 131 -3,118 -2,222 -1,311 -1,495 -1,820 -46.00 -1,211 -2,212 -2,125 Cash Flow from Financing
-327 324 164 78.00 2.00 437 836 414 -970 1.00 926 -152 -1,354 1,411 -686 394 386 Net Change in Cash
-605 -691 -1,008 -906 -930 -633 -639 -843 -636 -786 -559 -747 -587 -434 -366 -602 -639 Capital Expenditure
30.00 737 449 37.00 1,608 190 1,293 421 2,626 2,261 1,999 1,903 1,093 1,482 1,747 1,159 1,183 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STX 5/7
Valuation Ratios
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
13.74 12.45 14.06 14.06 8.11 -- 4.15 14.83 3.83 9.36 12.57 9.10 29.71 15.02 13.94 6.63 8.16 PE Ratio(TTM)
-- -- -- 29.15 5.65 -- 6.09 14.24 4.07 7.29 10.91 8.62 8.07 10.36 10.94 10.30 10.84 Price to Owner Earnings
(TTM)
3.58 3.29 2.50 2.49 2.02 3.32 2.25 2.79 2.80 4.61 6.55 4.96 4.57 8.29 9.74 5.87 7.18 Price to Book
3.58 3.30 5.37 5.25 4.37 3.48 2.25 2.82 3.87 6.16 9.58 8.45 -- -- 67.55 15.58 25.76 Price to Tangible Book
245 12.00 24.64 263 6.51 27.10 5.22 17.76 4.15 7.67 9.88 8.37 6.78 7.83 9.44 11.59 11.65 Price-to-Free-Cash-Flow
Ratio
11.33 6.20 8.04 13.51 4.08 6.24 3.48 6.00 3.34 5.68 7.72 5.99 4.40 6.06 7.80 7.63 7.56 Price-to-Operating-Cash-
Flow Ratio
1.16 1.17 1.29 1.14 0.81 0.52 0.59 0.69 0.73 1.19 1.43 1.15 0.66 1.08 1.48 1.29 1.38 PS Ratio
-- -- -- 0.64 0.49 -- -- -- -- -- -- 0.46 8.44 -- -- -- -- PEG Ratio
0.99 0.96 1.33 1.12 0.80 0.64 0.54 0.66 0.71 1.16 1.44 1.21 0.92 1.28 1.71 1.42 1.56 EV-to-Revenue
8.82 6.13 8.24 8.52 4.44 -3.63 2.43 4.67 2.68 5.73 7.54 5.52 7.99 7.72 8.52 6.88 9.10 EV-to-EBITDA
12.29 10.07 13.98 19.82 7.02 -2.36 3.51 9.11 3.37 8.17 11.32 7.65 21.96 13.30 11.60 9.22 12.40 EV-to-EBIT
8.14 9.93 7.15 5.05 14.25 -42.37 28.49 10.98 29.67 12.24 8.83 13.07 4.55 7.52 8.62 10.85 8.06 Return on Capital %
-- -- -- 24.79 22.10 11.11 10.48 8.44 10.25 6.95 7.35 29.42 24.77 1.72 2.19 9.88 9.84 Forward Rate of Return
-- -- -- -- -- -- -- -- 16.69 24.67 26.14 18.79 9.99 15.13 20.43 10.92 11.59 Shiller PE Ratio
1.39 1.48 1.41 1.72 2.20 2.58 -- 1.11 3.48 3.12 2.94 4.32 9.98 6.50 4.46 5.35 5.06 Dividend Yield %
Valuation and Quality
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
6,632 8,367 13,039 11,807 9,280 5,157 6,132 6,862 9,794 16,114 18,554 14,984 7,273 11,307 16,216 12,680 13,144 Market Cap
6,192 7,271 12,276 12,726 10,169 6,313 6,119 7,223 10,539 16,714 19,820 16,654 10,233 13,789 19,178 14,711 15,541 Enterprise Value
14.43 17.55 22.64 22.07 19.13 10.46 13.04 16.16 24.73 44.83 56.82 47.50 24.36 38.75 56.47 47.12 50.37 Month End Stock Price
-1.97 -1.82 -4.51 -6.71 -9.06 -8.10 -6.40 -8.50 -11.34 -9.90 -12.27 -13.76 -18.38 -18.39 -20.50 -16.73 -20.53 Net Cash (per share)
0.81 1.68 -- -1.75 -2.60 -2.51 -0.22 -0.79 -0.75 -0.93 -2.70 -3.99 -10.34 -9.81 -11.96 -8.77 -11.31 Net Current Asset Value
(per share)
-0.35 0.35 -1.86 -4.03 -5.90 -5.93 -3.36 -4.84 -5.80 -5.23 -6.79 -8.07 -13.62 -13.62 -15.58 -12.17 -15.14 Net-Net Working Capital (per
share)
-- -- -- -- 23.09 14.73 19.26 18.77 32.18 53.03 68.72 88.30 70.50 63.96 60.91 60.21 57.88 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- 37.07 40.20 42.29 34.66 33.21 35.84 37.53 38.94 Median PS (per share)
-- -- -- 34.77 38.70 -76.28 -- -- -- -- -- 103 -- -- -- -- -- Peter Lynch Fair Value (per
share)
9.81 13.00 12.32 12.15 15.24 -- 20.23 11.85 30.53 28.05 24.56 25.80 -- -- 8.73 21.92 16.47 Graham Number (per share)
-- -- -- 3.26 5.47 0.86 8.58 9.09 17.98 25.22 40.41 36.20 28.10 20.94 20.04 26.71 25.06 Earnings Power Value
(EPV)
4.64 4.67 3.56 3.26 2.97 0.46 2.91 2.24 3.53 4.06 3.76 3.45 1.66 1.98 2.47 2.50 2.13 Altman Z-Score
5.00 6.00 5.00 5.00 8.00 4.00 7.00 5.00 9.00 6.00 7.00 6.00 4.00 8.00 7.00 6.00 6.00 Piotroski F-Score
-- -2.76 0.30 -2.40 -3.18 -3.74 -2.50 -2.64 -1.76 -3.23 -3.00 -3.17 -3.17 -3.24 -2.71 -2.49 -2.45 Beneish M-Score
0.40 0.37 0.85 0.59 0.58 0.27 0.38 0.34 0.46 0.41 0.44 0.49 0.46 0.47 0.50 0.45 0.48 Scaled Net Operating
Assets
21.71 6.64 -0.59 3.93 -2.82 -46.99 5.20 2.47 7.07 -4.15 -7.02 3.85 -2.69 -7.39 6.98 -6.70 -9.15 Sloan Ratio (%)
1.97 1.97 1.30 1.43 1.30 1.34 1.81 1.86 1.86 2.07 2.41 2.38 1.57 1.92 1.35 1.95 1.54 Current Ratio
1.61 1.73 1.03 1.14 1.01 1.16 1.56 1.60 1.59 1.75 2.00 1.95 1.18 1.55 1.02 1.52 1.11 Quick Ratio
30.60 21.30 28.08 28.35 28.60 19.43 21.35 18.22 32.21 44.99 61.24 68.82 52.45 50.51 62.11 59.02 64.17 Highest Stock Price
11.73 10.28 13.96 19.95 18.87 3.11 9.50 10.14 9.49 24.56 38.09 47.50 18.72 23.16 30.95 36.13 41.63 Lowest Stock Price
-4.72 -3.74 -20.80 7.11 9.32 -1.62 4.62 9.70 6.73 9.24 9.15 3.40 5.35 2.27 1.59 6.29 7.84 Shares Buyback Ratio (%)
-9.43 20.39 16.77 10.15 22.05 -14.94 10.34 5.97 44.19 10.90 5.28 4.95 -10.97 -2.52 6.32 -4.82 -6.39 YoY Rev. per Sh. Growth
(%)
-22.06 33.02 13.48 -2.50 51.28 -371 149 -65.29 495 -25.89 -6.03 16.37 -84.41 215 56.98 74.32 7.12 YoY EPS Growth (%)
-24.30 28.35 20.36 -10.51 68.57 -183 238 -32.51 169 -14.43 -0.79 20.31 -53.44 40.71 29.11 -2.77 -27.39 YoY EBITDA Growth (%)
-- -- -- 21.87 16.40 -- -- -- -- -- -- 19.69 3.52 -12.47 -6.80 -0.47 -0.60 EBITDA 5-Y Growth (%)
452 468 495 558 512 488 491 451 426 370 337 324 299 296 288 282 262 Shares Outstanding (Basic
Average)
460 477 576 535 485 493 470 425 396 359 327 315 299 292 287 269 263 Shares Outstanding (EOP)
-- -- 2.89 3.02 1.44 1.94 2.12 2.16 2.64 2.94 3.07 2.23 1.26 1.71 1.44 1.91 1.57 Beta
08/10/04 08/01/05 09/11/06 08/27/07 08/13/08 08/19/09 08/20/10 08/17/11 08/09/12 08/08/13 08/08/14 08/12/15 08/05/16 08/04/17 08/03/18 08/02/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STX 6/7
08/01/05 09/11/06 09/11/06 08/27/07 08/13/08 08/20/10 08/09/12 08/08/13 08/08/14 08/12/15 08/05/16 08/04/17 08/03/18 08/02/19 08/02/19 08/02/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STX 7/7
Accenture PLC (NYSE:ACN) 03/02/2020 4:10PM EST GuruFocus
Price: $ 189.55 +8.96(+4.96%) Market Cap: $ 120.54 B Enterprise Value: $118.55 B Stock PDF
Financial Strength : 8/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 25.31
Cash to Debt 1.72 Operating margin (%) 14.65
Forward P/E N/A
Equity to Asset 0.46 Net-margin (%) 11.06
PE(NRI) 25.31
Interest Coverage 269.23 ROE (%) 35.06
F-Score:
P/B 7.94
ROA (%) 16.74
6 P/S 2.80
Z-Score: ROC (Joel Greenblatt) (%) 329.90
6.72 PFCF 21.34
Revenue Growth (3Y)(%) 8.40
M-Score: POCF 19.28
-2.58 EBITDA Growth (3Y)(%) 5.10
EV-to-EBIT 18.33
WACC vs 6.19% EPS Growth (3Y)(%) 4.50
ROIC 50.03% PEG 2.81
WACC
ROIC Shiller P/E 34.52
Current Ratio 1.39
Quick Ratio 1.39
Days Sales Outstanding 71.20
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Accenture is a leading global IT services firm that provides consulting, strategy, and technology and operational
services. These services run the gamut from aiding enterprises with digital transformation, to procurement services, to
2016 8,397 8,969 8,966 9,006 35,337 software system integration. The company provides its IT offerings to a variety of sectors, including communications,
2017 8,762 9,357 9,052 9,884 37,056 media and technology, financial services, health and public services, consumer products, and resources. Accenture
Good Signs 2018 9,909 10,695 10,504 10,606 41,714
employs just under 500,000 people throughout 200 cities in 51 countries.... (Read More)
Competitors: NYSE:IBM, NSE:TCS, NYSE:FIS, NSE:INFY, NAS:CTSH, XMAD:AMS, NSE:HCLTECH,
Revenue per Share: 2019 10,454 11,100 11,056 11,359 43,968 TSE:6702, XPAR:CAP, TSX:GIB.A, BOM:507685, NAS:CDW, TSE:9613, NYSE:LDOS, TSE:4307, NYSE:IT,
Consistent growth 2020 NYSE:BR, NAS:JKHY, NYSE:EPAM, XKRX:018260
Operating Margin %: Quarterly Earnings per Share Insider Trades
Expansion Mar Jun Sep Dec Full Year
Dividend Yield %: Close to 1- 2016 2.08 1.41 1.68 1.58 6.75
year high 2017 1.33 1.05 1.48 1.79 5.65
2018 1.37 1.60 1.58 1.96 6.51
PE Ratio: Close to 1-year low 2019 1.73 1.93 1.74 2.09 7.49
PB Ratio: Close to 1-year low 2020
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
EPS without NRI: $7.49 2016 0.00 1.10 0.00 1.21 2.31
Growth Rate in the next 10 2017 0.00 1.21 0.00 1.33 2.54
years: 10.90% 2018 0.00 1.33 0.00 1.46 2.79
Terminal Growth Rate for 10 2019 0.00 1.46 0.00 0.80 2.26
years: 4% 2020
Fair Value: $117.14 Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Reverse DCF Revenue Growth (%) 8.30 7.90 6.20
Expected eps Growth Rate: EBITDA Growth (%) 10.10 9.00 10.90
18.22%
Free Cash Flow Growth (%) 9.40 14.70 5.90
Book Value Growth (%) 18.30 20.60 20.10
EPS Growth (%) 10.90 9.40 15.10
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ACN 1/7
Per Share Data
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
15.07 17.79 20.38 24.89 30.75 29.46 30.13 36.80 40.94 42.61 46.04 48.49 52.11 54.78 62.56 66.46 67.69 Revenue per Share
2.04 2.40 2.36 3.44 4.40 4.06 4.44 5.44 6.20 6.93 7.13 7.47 9.51 8.23 10.31 11.02 11.62 EBITDA per Share
1.78 2.10 2.01 2.92 3.80 3.42 3.82 4.75 5.39 6.10 6.23 6.52 8.42 7.01 8.89 9.65 9.95 EBIT per Share
1.22 1.56 1.59 1.97 2.65 2.44 2.66 3.39 3.84 4.93 4.52 4.76 6.45 5.44 6.34 7.36 7.49 Earnings per Share (diluted)
1.22 1.56 1.59 1.97 2.65 2.44 2.66 3.39 3.84 4.93 4.52 4.76 6.45 5.44 6.34 7.36 7.49 eps without NRI
-- -- 1.93 1.85 2.02 2.24 2.73 3.17 4.51 3.50 3.16 4.59 6.31 4.61 6.79 7.77 7.48 Owner Earnings per Share (TTM)
1.47 1.63 2.64 2.63 3.02 3.71 3.72 4.09 5.34 4.11 4.57 5.57 6.25 6.75 8.25 9.27 8.88 Free Cashflow per Share
-- -- 0.30 0.35 0.42 0.50 1.13 0.90 1.35 1.62 1.86 2.04 2.20 2.42 2.66 2.92 2.26 Dividends per Share
1.55 1.97 2.29 2.71 3.47 3.98 4.11 5.62 6.13 7.44 8.73 9.44 11.76 14.07 16.20 22.64 23.86 Book Value per Share
1.32 1.53 1.66 1.87 2.33 2.82 2.89 3.98 4.33 4.23 4.48 4.21 5.35 5.09 6.71 11.57 12.58 Tangible Book per Share
0.07 0.09 0.06 0.04 0.01 0.00 0.00 0.01 -- 0.04 0.04 0.04 0.04 0.04 0.04 0.04 5.32 Total Debt per Share
26.10 24.40 29.66 41.21 41.36 33.00 36.60 53.59 61.60 72.25 81.06 94.27 115 131 169 198 190 Month End Stock Price
Ratios
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
59.98 59.36 54.21 62.82 73.49 59.15 62.80 67.84 63.64 72.08 55.02 51.47 60.08 41.75 42.04 38.58 35.06 Return on Equity %
9.55 11.08 10.55 12.28 14.62 12.90 14.19 15.95 15.76 19.57 16.91 16.90 21.19 15.91 17.23 17.62 16.74 Return on Assets %
276 302 252 328 389 359 431 488 501 558 549 555 639 442 485 473 330 Return on Capital %
-- -- -- -- -- -- -- -- -- -- 524 178 133 91.73 75.82 67.86 50.03 Return on Invested Capital %
14.76 11.82 11.88 12.76 8.99 8.49 9.67 13.49 13.29 12.56 9.39 8.43 6.53 7.30 6.55 5.90 6.19 Weighted Average Cost Of Capital (WACC) %
34.18 -- -- -- 131 306 1,154 499 677 110 67.34 53.83 59.48 59.45 78.03 96.34 3.44 Effective Interest Rate on Debt %
30.54 29.79 27.40 28.16 28.39 29.52 31.40 30.66 30.18 30.87 30.38 29.80 29.53 30.60 30.48 30.81 31.08 Gross Margin %
11.83 11.83 9.84 11.74 11.99 12.49 12.66 12.69 13.01 13.38 13.44 13.48 13.82 14.35 14.39 14.59 14.65 Operating Margin %
4.57 5.50 5.34 5.79 6.68 6.86 7.71 8.33 8.58 10.80 9.23 9.28 11.82 9.52 9.90 11.06 11.06 Net Margin %
9.75 9.18 12.96 10.56 9.81 12.59 12.36 11.11 13.05 9.65 9.93 11.49 11.99 12.32 13.19 13.95 13.12 FCF Margin %
0.05 0.04 0.03 0.01 0.00 -- 0.00 0.00 -- 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.22 Debt to Equity
0.18 0.19 0.20 0.19 0.21 0.23 0.22 0.25 0.25 0.29 0.32 0.34 0.37 0.39 0.42 0.48 0.46 Total Equity to Total Asset
0.01 0.01 0.01 0.00 0.00 -- -- -- -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.10 Total Debt to Total Asset
63.79 60.01 54.12 59.68 62.09 55.50 57.80 58.72 55.48 55.97 55.66 54.30 52.96 51.14 53.01 49.10 47.05 Gross Profit to Total Asset %
2.09 2.02 1.98 2.12 2.19 1.88 1.84 1.92 1.84 1.81 1.83 1.82 1.79 1.67 1.74 1.59 1.51 Asset Turnover
-- -- 0.19 0.18 0.16 0.21 0.42 0.27 0.35 0.33 0.41 0.43 0.34 0.45 0.42 0.40 0.30 Dividend Payout Ratio
40.14 37.43 62.15 62.94 65.11 52.96 40.06 43.18 37.76 40.03 44.20 42.59 42.71 46.10 66.75 68.37 71.20 Days Sales Outstanding
18.22 24.55 23.61 23.33 20.48 16.03 20.40 18.27 15.87 16.71 17.51 18.19 19.07 22.17 17.27 20.10 19.04 Days Accounts Payable
21.92 12.88 38.54 39.61 44.63 36.93 19.66 24.91 21.89 23.32 26.69 24.40 23.64 23.93 49.48 48.27 52.16 Cash Conversion Cycle
0.69 0.70 0.73 0.72 0.72 0.70 0.69 0.69 0.70 0.69 0.70 0.70 0.70 0.69 0.70 0.69 0.69 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ACN 2/7
Income Statement
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
15,114 17,094 18,228 21,453 25,314 23,171 23,094 27,353 29,778 30,394 31,875 32,914 34,798 36,177 40,993 43,215 43,968 Revenue
10,497 12,002 13,234 15,411 18,128 16,330 15,843 18,966 20,790 21,010 22,190 23,105 24,520 25,105 28,499 29,900 30,303 Cost of Goods Sold
4,616 5,092 4,994 6,041 7,186 6,841 7,251 8,387 8,988 9,384 9,684 9,809 10,277 11,071 12,493 13,315 13,665 Gross Profit
30.54 29.79 27.40 28.16 28.39 29.52 31.40 30.66 30.18 30.87 30.38 29.80 29.53 30.60 30.48 30.81 31.08 Gross Margin %
2,829 3,070 3,201 3,522 4,151 3,948 4,326 4,915 5,114 5,318 5,402 5,373 5,467 5,880 6,595 7,010 7,222 Selling, General, & Admin. Expense
-0.00 -0.00 -0.00 -- -0.00 -0.00 0.00 -0.00 -0.00 -0.00 -- -- -- -- -0.00 0.00 0.00 Other Operating Expense
1,788 2,022 1,793 2,519 3,034 2,893 2,924 3,472 3,873 4,067 4,282 4,436 4,810 5,191 5,899 6,305 6,443 Operating Income
11.83 11.83 9.84 11.74 11.99 12.49 12.66 12.69 13.01 13.38 13.44 13.48 13.82 14.35 14.39 14.59 14.65 Operating Margin %
59.94 -- -- -- 115 49.92 29.93 41.08 42.55 32.89 30.37 33.99 30.48 37.94 56.34 87.51 95.30 Interest Income
-22.04 -- -- -- -22.70 -14.12 -14.68 -15.00 -15.06 -14.04 -17.62 -14.58 -16.26 -15.55 -19.54 -22.96 -23.93 Interest Expense
37.90 -- -- -- 91.92 35.80 15.25 26.08 27.49 18.86 12.75 19.41 14.23 22.40 36.80 64.55 71.36 Net Interest Income
-26.84 184 131 99.93 -18.61 -251 -25.27 13.96 3.45 254 2.45 -44.75 779 -598 -127 -118 -72.73 Other Income (Expense)
-532 -568 -460 -480 -505 -348 -280 -276 -271 -273 -234 -220 -238 -190 -155 -67.13 -68.73 Other Income (Minority Interest)
1,799 2,206 1,924 2,619 3,108 2,678 2,914 3,512 3,904 4,339 4,298 4,411 5,604 4,616 5,808 6,252 6,442 Pre-Tax Income
-576 -697 -491 -896 -911 -740 -854 -959 -1,079 -785 -1,122 -1,137 -1,254 -981 -1,593 -1,406 -1,512 Tax Provision
32.00 31.60 25.50 34.21 29.30 27.62 29.30 27.30 27.64 18.09 26.10 25.77 22.38 21.25 27.44 22.48 23.47 Tax Rate %
691 940 973 1,243 2,197 1,938 2,060 2,553 2,825 3,555 3,176 3,274 4,350 3,635 4,215 4,846 4,930 Net Income (Continuing Operations)
691 940 973 1,243 1,692 1,590 1,781 2,278 2,554 3,282 2,941 3,054 4,112 3,445 4,060 4,779 4,861 Net Income
4.57 5.50 5.34 5.79 6.68 6.86 7.71 8.33 8.58 10.80 9.23 9.28 11.82 9.52 9.90 11.06 11.06 Net Margin %
1.25 1.60 1.65 2.06 2.77 2.55 2.79 3.53 3.97 5.08 4.64 4.87 6.58 5.56 6.46 7.49 7.62 EPS (Basic)
1.22 1.56 1.59 1.97 2.65 2.44 2.66 3.39 3.84 4.93 4.52 4.76 6.45 5.44 6.34 7.36 7.49 EPS (Diluted)
1,003 961 894 862 823 787 767 743 727 713 692 679 668 660 655 650 649 Shares Outstanding (Diluted
Average)
257 282 321 444 491 499 475 513 594 593 621 646 729 802 927 893 1,081 Depreciation, Depletion and
Amortization
2,045 2,304 2,114 2,963 3,622 3,190 3,404 4,040 4,513 4,946 4,936 5,071 6,349 5,433 6,754 7,168 7,546 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ACN 3/7
Balance Sheet
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
2,553 2,484 3,067 3,314 3,603 4,542 4,838 5,701 6,641 5,632 4,921 4,361 4,906 4,127 5,061 6,127 5,811 Cash And Cash Equivalents
285 463 353 231 20.28 7.90 2.99 4.93 2.26 2.53 2.60 2.45 2.88 3.01 3.19 3.31 3.30 Marketable Securities
2,838 2,947 3,420 3,546 3,623 4,550 4,841 5,706 6,643 5,634 4,924 4,363 4,908 4,130 5,065 6,130 5,814 Cash, Cash Equivalents, Marketable
Securities
1,662 1,753 3,104 3,699 4,515 3,362 2,535 3,236 3,081 3,333 3,860 3,841 4,072 4,569 7,496 8,095 8,577 Accounts Receivable
589 631 667 726 1,021 1,079 1,060 1,143 1,464 1,363 1,317 611 845 1,082 1,025 1,225 1,215 Other Current Assets
6,139 6,685 7,191 7,971 9,159 8,991 9,564 11,471 12,588 11,844 11,904 10,700 11,976 12,097 13,586 15,451 15,606 Total Current Assets
-- -- -- -- 19.03 29.01 41.02 40.37 28.18 43.63 66.78 45.03 199 212 216 240 279 Investments And Advances
441 463 534 621 4.42 4.29 3.32 3.81 3.30 3.50 3.48 2.94 2.91 3.16 0.06 0.06 -- Buildings And Improvements
1,422 1,500 1,554 1,743 1,784 1,736 1,637 1,763 1,670 1,687 1,773 1,697 1,783 2,005 2,000 2,118 -- Machinery, Furniture, Equipment
1,863 1,962 2,088 2,364 2,426 2,341 2,219 2,425 2,328 2,388 2,546 2,451 2,687 3,053 3,126 3,347 4,541 Gross Property, Plant and Equipment
-1,220 -1,269 -1,360 -1,556 -1,626 -1,640 -1,560 -1,640 -1,548 -1,608 -1,753 -1,649 -1,730 -1,912 -1,862 -1,956 -- Accumulated Depreciation
644 694 728 808 800 701 660 785 779 780 793 802 957 1,141 1,264 1,391 4,541 Property, Plant and Equipment
214 378 528 644 840 825 841 1,132 1,215 2,145 2,794 3,395 4,120 5,713 6,070 7,046 7,170 Intangible Assets
-- -- 528 644 840 825 841 1,132 1,215 1,819 2,396 2,930 3,609 5,002 5,383 6,206 6,300 Goodwill
1,016 1,200 1,051 1,324 1,580 1,710 1,730 2,303 2,054 2,055 2,372 3,261 3,358 3,528 3,314 5,661 5,575 Other Long Term Assets
8,013 8,957 9,497 10,747 12,399 12,256 12,835 15,732 16,665 16,867 17,930 18,203 20,609 22,690 24,449 29,790 33,171 Total Assets
524 807 856 985 1,017 717 885 949 904 962 1,064 1,151 1,281 1,525 1,349 1,647 1,581 Accounts Payable
-- -- -- -- 594 493 511 587 571 575 716 836 721 708 498 378 448 Total Tax Payable
2,538 2,673 3,508 4,172 4,973 4,492 2,068 2,391 5,812 5,906 5,786 6,238 6,511 7,152 7,309 7,867 7,498 Accounts Payable & Accrued
Expense
36.72 31.07 24.79 23.80 6.57 0.59 0.14 4.42 0.01 -- 0.33 1.85 2.77 2.91 5.34 6.41 714 Current Portion of Long-Term Debt
980 1,284 1,467 1,785 1,811 1,725 1,773 2,219 2,275 2,231 2,348 2,252 2,365 2,670 2,838 3,189 2,987 Current Deferred Revenue
42.74 42.61 49.87 39.08 57.26 21.05 43.29 32.65 21.92 24.03 23.94 -- -- -- -- -- -- Current Deferred Taxes Liabilities
1,023 1,327 1,517 1,824 1,868 1,746 1,816 2,252 2,297 2,255 2,372 2,252 2,365 2,670 2,838 3,189 2,987 DeferredTaxAndRevenue
796 900 722 942 -- -- 2,683 3,259 -- -- -- -0.00 0.00 -- -- -- -- Other Current Liabilities
4,394 4,931 5,773 6,963 6,848 6,239 6,568 7,907 8,109 8,161 8,158 8,491 8,879 9,824 10,152 11,062 11,199 Total Current Liabilities
32.16 44.12 27.07 2.57 1.71 0.36 1.45 -- 0.02 25.60 26.40 25.59 24.46 22.16 19.68 16.25 15.94 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 2,652 Capital Lease Obligation
32.16 44.12 27.07 2.57 1.71 0.36 1.45 -- 0.02 25.60 26.40 25.59 24.46 22.16 19.68 16.25 2,668 Long-Term Debt & Capital Lease
Obligation
0.05 0.04 0.03 0.01 0.00 -- 0.00 0.00 -- 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.22 Debt to Equity
-- -- -- -- 484 678 953 996 1,352 873 1,108 1,109 1,495 1,409 1,411 1,766 1,784 PensionAndRetirementBenefit
18.77 5.62 16.88 31.76 1,674 608 565 626 659 692 744 616 866 800 744 698 730 NonCurrent Deferred Liabilities
941 981 868 740 652 551 439 472 479 468 553 514 634 761 360 419 434 Minority Interest
1,156 1,299 919 947 198 1,344 1,474 1,853 1,920 1,688 1,609 1,314 1,156 924 1,399 1,420 1,188 Other Long-Term Liabilities
5,601 6,279 6,735 7,944 9,206 8,870 9,561 11,381 12,041 11,439 11,645 11,555 12,420 12,980 13,724 14,962 17,570 Total Liabilities
0.02 0.02 0.02 0.02 0.02 0.02 0.07 0.07 0.07 0.08 0.08 0.08 0.07 0.07 0.07 0.07 0.07 Common Stock
46.64 962 1,607 2,363 3,121 3,947 4,634 6,282 7,904 10,070 11,758 13,470 7,880 7,082 7,952 10,422 11,236 Retained Earnings
211 133 456 734 6.13 -227 -386 -134 -678 -1,053 -872 -1,412 -1,662 -1,095 -1,576 -1,841 -1,780 Accumulated other comprehensive
income (loss)
1,644 1,365 701 -- -- -- 138 525 1,342 2,394 3,347 4,517 2,925 3,516 4,871 5,804 6,162 Additional Paid-In Capital
-429 -764 -870 -1,033 -1,406 -1,755 -2,524 -3,578 -5,286 -7,326 -9,423 -11,472 -2,592 -1,649 -2,117 -1,388 -1,977 Treasury Stock
1,472 1,697 1,894 2,063 2,541 2,835 2,836 3,879 4,146 4,960 5,732 6,134 7,555 8,949 10,365 14,409 15,167 Total Equity
0.18 0.19 0.20 0.19 0.21 0.23 0.22 0.25 0.25 0.29 0.32 0.34 0.37 0.39 0.42 0.48 0.46 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ACN 4/7
Cashflow Statement
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
691 940 973 1,243 1,692 1,938 2,060 2,553 2,825 3,555 3,176 3,274 4,350 3,635 4,215 4,846 4,930 Net Income
691 940 973 1,243 1,692 1,938 2,060 2,553 2,825 3,555 3,176 3,274 4,350 3,635 4,215 4,846 4,930 Net Income From Continuing
Operations
257 282 321 444 491 499 475 513 594 593 621 646 729 802 927 893 1,081 Depreciation, Depletion and
Amortization
-183 -653 310 -7.48 -762 982 -377 -620 -128 -310 -705 -427 -370 -73.32 -711 -526 -426 Change In Receivables
-65.49 270 48.16 108 623 -569 314 692 421 -178 42.77 889 300 71.71 662 401 143 Change In Payables And Accrued
Expense
196 50.18 885 252 -172 1.42 26.78 38.85 336 -889 -995 209 -333 -444 -193 -21.42 -523 Change In Working Capital
92.86 63.14 -224 -108 -89.95 -62.98 58.73 -196 56.98 -210 -74.09 -459 65.94 -364 94.00 -96.36 -57.14 Change In DeferredTax
60.49 -- -- -- 377 453 426 450 538 616 671 680 758 795 977 1,093 1,122 Stock Based Compensation
459 551 713 798 505 332 45.14 82.64 -92.65 -362 86.94 -173 -903 549 7.61 -87.52 -166 Cash Flow from Others
1,756 1,887 2,668 2,631 2,803 3,160 3,092 3,442 4,257 3,303 3,486 4,176 4,667 4,973 6,027 6,627 6,386 Cash Flow from Operations
-282 -318 -306 -364 -320 -243 -238 -404 -372 -370 -322 -395 -497 -516 -619 -599 -616 Purchase Of Property, Plant,
Equipment
11.03 6.32 13.95 14.55 10.84 4.67 3.79 6.76 5.98 17.37 5.53 5.78 4.22 10.26 6.93 -- 4.80 Sale Of Property, Plant, Equipment
-31.66 -- -- -- -298 -29.49 -41.08 -306 -174 -804 -740 -792 -933 -1,728 -658 -1,193 -1,103 Purchase Of Business
-- -- -- -- 1.80 2.16 -- -- -- -- -- 10.55 815 -- 20.20 27.95 66.71 Sale Of Business
-1,047 -1,019 -401 -694 -27.69 -1.78 -13.53 -11.17 -7.55 -- -- -- -- -- -- -- -- Purchase Of Investment
421 944 658 885 310 22.72 15.26 10.93 12.55 -- -- 10.55 -- -- -- -- -- Sale Of Investment
31.66 -188 -217 -192 -- 0.00 0.00 0.00 0.00 0.00 -- -10.55 -- -- 0.00 8.55 3.57 Cash From Other Investing Activities
-897 -575 -253 -350 -324 -245 -274 -703 -535 -1,156 -1,056 -1,170 -610 -2,234 -1,250 -1,756 -1,649 Cash Flow from Investing
2,741 299 437 488 441 405 437 557 454 516 558 591554 676 753 848 883 Issuance of Stock
-3,460 -1,625 -2,087 -2,308 -2,261 -1,855 -2,071 -2,172 -2,099 -2,544 -2,559 -2,453 -2,605 -2,649 -2,639 -2,691 -2,632 Repurchase of Stock
-21.90 -12.62 -18.70 -25.87 -17.99 -6.97 0.69 -1.61 -6.27 0.05 0.54 0.70 -1.06 -2.12 -4.20 -4.77 -4.97 Net Issuance of Debt
-- -- -268 -293 -334 -378 -824 -644 -951 -1,122 -1,255 -1,353 -1,438 -1,568 -1,709 -1,864 -1,440 Cash Flow for Dividends
52.67 -38.45 2.32 10.92 10.42 -14.21 28.29 138 42.72 84.60 89.89 -34.71 -36.39 -17.53 -110 -55.38 -59.02 Other Financing
-688 -1,377 -1,934 -2,128 -2,162 -1,850 -2,429 -2,122 -2,559 -3,066 -3,165 -3,286 -3,489 -3,560 -3,709 -3,767 -3,253 Cash Flow from Financing
221 -68.97 583 247 288 939 297 863 939 -1,009 -711 -561 545 -779 935 1,065 1,447 Net Change in Cash
-282 -318 -306 -364 -320 -243 -238 -404 -372 -370 -322 -395 -497 -516 -619 -599 -616 Capital Expenditure
1,474 1,569 2,362 2,266 2,483 2,917 2,853 3,038 3,885 2,934 3,164 3,781 4,171 4,457 5,408 6,028 5,770 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ACN 5/7
Valuation Ratios
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
21.39 15.54 18.65 20.92 15.55 13.52 13.71 15.76 16.04 14.66 17.93 19.80 17.83 24.04 26.67 26.93 25.31 PE Ratio(TTM)
-- -- 15.41 22.31 20.47 14.76 13.39 16.89 13.66 20.67 25.62 20.56 18.22 28.35 24.89 25.50 25.33 Price to Owner Earnings (TTM)
16.86 12.37 12.93 15.19 11.91 8.30 8.91 9.54 10.06 9.71 9.29 9.99 9.78 9.29 10.43 8.75 7.94 Price to Book
19.74 15.92 17.92 22.07 17.78 11.70 12.66 13.48 14.23 17.10 18.11 22.37 21.51 25.69 25.18 17.13 15.07 Price to Tangible Book
17.67 14.87 11.18 15.62 13.59 8.88 9.80 13.11 11.51 17.54 17.67 16.91 18.39 19.35 20.48 21.37 21.34 Price-to-Free-Cash-Flow Ratio
14.85 12.36 9.90 13.45 12.05 8.20 9.05 11.57 10.51 15.58 16.05 15.31 16.43 17.35 18.38 19.44 19.28 Price-to-Operating-Cash-Flow
Ratio
1.73 1.37 1.45 1.66 1.34 1.12 1.22 1.46 1.51 1.70 1.76 1.94 2.21 2.39 2.70 2.98 2.80 PS Ratio
-- -- -- 1.15 0.87 0.67 0.88 1.27 1.54 1.22 1.25 1.86 1.97 3.09 3.40 3.10 2.81 PEG Ratio
1.52 1.12 1.21 1.33 1.08 0.84 0.90 1.16 1.19 1.41 1.53 1.75 2.00 2.21 2.52 2.79 2.70 EV-to-Revenue
11.24 8.29 10.40 9.64 7.65 6.12 6.13 7.87 7.87 8.69 9.90 11.33 10.97 14.69 15.32 16.80 15.71 EV-to-EBITDA
12.86 9.44 12.26 11.34 8.88 7.25 7.12 9.01 9.06 9.88 11.33 12.98 12.39 17.24 17.76 19.19 18.33 EV-to-EBIT
7.78 10.59 8.16 8.82 11.26 13.79 14.04 11.10 11.04 10.12 8.83 7.70 8.07 5.80 5.63 5.21 5.46 Return on Capital %
-- -- -- 22.86 23.32 28.07 24.02 18.86 16.82 17.83 19.74 15.73 13.62 12.09 11.57 12.37 12.62 Forward Rate of Return
-- -- -- -- -- -- -- -- 25.30 25.43 25.37 27.08 28.95 29.98 35.11 36.96 34.52 Shiller PE Ratio
-- -- 1.01 0.85 1.02 1.52 3.07 1.68 2.19 2.24 2.29 2.16 1.91 1.85 1.57 1.47 1.62 Dividend Yield %
Valuation and Quality
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
24,814 20,981 24,487 31,340 30,243 23,525 25,255 37,020 41,688 48,144 53,220 61,279 73,898 83,175 108,152 126,112 120,543 Market Cap
22,985 19,090 21,987 28,561 27,280 19,527 20,854 31,790 35,524 43,003 48,877 57,457 69,651 79,831 103,473 120,423 118,545 Enterprise Value
26.10 24.40 29.66 41.21 41.36 33.00 36.60 53.59 61.60 72.25 81.06 94.27 115 131 169 198 190 Month End Stock Price
-3.90 -5.02 -5.07 -6.76 -8.53 -6.83 -7.48 -8.90 -8.68 -9.41 -11.08 -11.85 -12.68 -15.11 -14.10 -14.54 -19.18 Net Cash (per share)
-0.42 -0.67 -0.50 -0.94 -0.96 -0.60 -0.63 -0.55 0.10 -0.09 -0.45 -2.11 -1.68 -2.58 -0.78 0.11 -3.77 Net Current Asset Value (per
share)
-2.58 -3.49 -2.25 -3.11 -3.90 -3.30 -4.72 -5.38 -5.27 -5.66 -6.67 -7.42 -7.92 -9.72 -5.31 -5.00 -9.06 Net-Net Working Capital (per
share)
-- -- -- 27.36 37.69 44.44 50.23 57.47 57.99 60.96 70.74 70.94 72.64 74.04 84.44 102 107 Projected FCF (per share)
-- -- -- -- -- -- -- -- 61.23 66.29 71.53 78.28 87.97 93.52 113 127 131 Median PS (per share)
-- -- -- 35.78 47.53 48.95 41.55 42.33 40.01 59.06 64.68 50.60 58.37 42.38 49.71 63.88 66.51 Peter Lynch Fair Value (per
share)
6.02 7.34 7.69 9.10 11.78 12.44 13.15 17.41 19.34 21.65 21.33 21.24 27.86 24.96 30.95 43.77 46.05 Graham Number (per share)
-- -- 21.00 25.41 30.44 35.93 40.34 46.92 54.13 57.86 62.72 67.45 73.51 77.79 82.98 91.28 87.68 Earnings Power Value (EPV)
5.55 5.11 5.19 5.59 5.42 4.93 4.92 5.26 5.63 6.28 6.48 6.97 6.87 6.67 7.82 7.87 6.72 Altman Z-Score
5.00 5.00 5.00 8.00 9.00 7.00 8.00 7.00 5.00 6.00 6.00 5.00 8.00 6.00 8.00 8.00 6.00 Piotroski F-Score
-2.81 -2.90 -2.67 -2.90 -2.63 -3.22 -3.24 -2.53 -3.02 -2.39 -2.39 -2.65 -2.68 -2.54 -2.31 -2.60 -2.58 Beneish M-Score
-0.06 -0.02 -0.07 -0.08 -0.04 -0.09 -0.13 -0.11 -0.13 -0.01 0.08 0.13 0.18 0.27 0.25 0.36 0.44 Scaled Net Operating Assets
-2.10 -4.15 -15.18 -9.65 -6.35 -10.81 -8.08 -2.93 -7.01 6.73 2.85 0.26 0.27 3.11 -2.93 -0.31 0.37 Sloan Ratio (%)
1.40 1.36 1.25 1.14 1.34 1.44 1.46 1.45 1.55 1.45 1.46 1.26 1.35 1.23 1.34 1.40 1.39 Current Ratio
1.40 1.36 1.25 1.14 1.34 1.44 1.46 1.45 1.55 1.45 1.46 1.26 1.35 1.23 1.34 1.40 1.39 Quick Ratio
27.91 27.55 32.94 43.81 42.21 41.96 44.67 63.44 65.89 83.09 85.40 105 120 131 170 199 216 Highest Stock Price
21.16 21.47 24.92 28.38 32.79 26.67 33.21 37.40 49.82 61.06 70.28 75.85 92.29 110 130 134 160 Lowest Stock Price
-1.70 9.56 3.99 7.88 3.85 2.51 3.21 -0.11 2.03 1.54 1.47 0.99 1.15 1.01 -0.57 0.52 0.38 Shares Buyback Ratio (%)
12.13 18.05 14.57 22.10 23.55 -4.19 2.26 22.17 11.23 4.08 8.05 5.33 7.46 5.11 14.21 6.25 6.16 YoY Rev. per Sh. Growth (%)
16.19 27.87 1.92 23.90 34.52 -7.92 9.02 27.44 13.27 28.39 -8.32 5.31 35.50 -15.66 16.54 16.09 15.05 YoY EPS Growth (%)
8.63 17.61 -1.42 45.43 27.98 -7.82 9.47 22.43 14.13 11.77 2.81 4.80 27.27 -13.47 25.28 6.95 10.94 YoY EBITDA Growth (%)
-- -- -- 18.16 17.87 20.06 15.56 12.45 10.42 11.98 14.31 10.63 9.05 7.79 7.84 8.68 9.00 EBITDA 5-Y Growth (%)
553 589 589 604 611 623 637 646 643 646 634 627 625 620 628 638 636 Shares Outstanding (Basic
Average)
951 860 826 760 731 713 690 691 677 666 657 650 643 636 640 636 636 Shares Outstanding (EOP)
1.80 1.47 1.36 1.40 0.74 0.60 0.66 0.81 1.24 1.39 1.27 1.16 1.01 1.10 0.95 1.00 1.01 Beta
11/05/04 10/19/09 10/19/09 10/26/10 10/21/11 10/30/12 10/29/13 10/24/14 10/30/15 10/28/16 10/26/17 10/24/18 10/29/19 Filing Date
11/05/04 10/19/09 10/26/10 10/21/11 10/29/13 10/24/14 10/30/15 10/28/16 10/26/17 10/24/18 10/29/19 10/29/19 10/29/19 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ACN 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ACN 7/7
Chevron Corp (NYSE:CVX) 03/02/2020 4:10PM EST GuruFocus
Price: $ 96.59 +3.25(+3.48%) Market Cap: $ 181.52 B Enterprise Value: $203.74 B Stock PDF
Financial Strength : 6/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 63.97
Cash to Debt 0.21 Operating margin (%) 0.07
Forward P/E N/A
Equity to Asset 0.61 Net-margin (%) 2.09
PE(NRI) 63.97
Interest Coverage 0.13 ROE (%) 1.91
F-Score:
P/B 1.27
ROA (%) 1.16
5 P/S 1.31
Z-Score: ROC (Joel Greenblatt) (%) 3.85
2.90 PFCF 13.88
Revenue Growth (3Y)(%) 7.80
M-Score: POCF 6.70
-3.00 EBITDA Growth (3Y)(%) 26.20
EV-to-EBIT 32.17
WACC vs 5.41%
ROIC 0.03% PEG 91.43
WACC
ROIC Shiller P/E 10.80
Current Ratio 1.07
Quick Ratio 0.85
Days Inventory 20.72
Days Sales Outstanding 34.77
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Chevron is an integrated energy company with exploration, production, and refining operations worldwide. Chevron is
Dividend Payout Ratio: Too
the second-largest oil company in the United States with production of 3.0 million of barrels of oil equivalent a day,
high 2016 23,070 27,844 29,159 30,142 110,215 including 7.2 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take
2017 31,524 32,877 33,892 36,381 134,674 place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the United States,
ROIC vs. WACC: Return on South Africa, and Asia for total refining capacity of 1.6 million barrels of oil a day. Proven reserves at year-end 2018
2018 35,968 40,491 42,105 40,338 158,902 stood at 12.1 billion barrels of oil equivalent, including 6.8 billion barrels of liquids and 31.6 trillion cubic feet of natural
invested capital is less than
2019 34,189 36,323 34,779 34,574 139,865 gas.... (Read More)
weighted average cost of
2020 Competitors: LSE:RDSA, NYSE:XOM, SHSE:601857 , XPAR:FP, LSE:BP., BSP:PETR3 , MIC:GAZP,
capital. HKSE:00386, MIC:ROSN, MIC:LKOH, OSL:EQNR, MIL:ENI, TSX:SU, BKK:PTT, BOG:ECOPETROL, MIC:SIBN,
Quarterly Earnings per Share MIC:SNGS, MIC:TATN, XMAD:REP, BOM:500312
Good Signs Mar Jun Sep Dec Full Year Insider Trades
2016 -0.39 -0.78 0.68 0.22 -0.27
Dividend Yield %: Close to 3- 2017 1.41 0.77 1.03 1.64 4.85
year high 2018 1.90 1.78 2.11 1.95 7.74
PB Ratio: Close to 3-year low 2019 1.39 2.27 1.36 -3.51 1.51
2020
PS Ratio: Close to 3-year low
Quarterly Dividends Per Share
Insider Buy: Insider Buying
Mar Jun Sep Dec Full Year
2016 1.07 1.07 1.07 1.08 4.29
DCF 2017 1.08 1.08 1.08 1.08 4.32
GuruFocus does not 2018 1.12 1.12 1.12 1.12 4.48
calculate intrinsic value: DCF 2019 1.19 1.19 1.19 1.19 4.76
(Earnings Based) for 2020
companies with one star Growth Rate
predictability or not rated. But
you can go to each stock's Annual Rates(per share) 10-Y 5-Y 12-M
DCF page to calculate Revenue Growth (%) -4.30 -3.10 -11.10
yourself. EBITDA Growth (%) -2.80 0.70 -11.90
Free Cash Flow Growth (%) 0.00 0.00 -20.80
Reverse DCF Book Value Growth (%) 4.90 4.90 -6.10
GuruFocus does not EPS Growth (%) 0.00 0.00 -80.10
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CVX 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
73.18 91.94 95.63 104 131 84.12 98.75 122 117 114 106 69.29 58.84 70.96 83.02 73.81 73.80 Revenue per Share
15.99 18.74 18.21 19.30 25.65 15.33 22.51 25.59 24.64 21.43 25.48 13.80 9.34 15.21 21.29 18.76 18.76 EBITDA per Share
13.67 16.00 14.79 15.22 21.00 9.27 16.00 19.14 17.82 14.09 16.56 2.58 -1.05 5.02 11.14 3.34 3.30 EBIT per Share
6.28 6.54 7.80 8.77 11.67 5.24 9.48 13.44 13.32 11.09 10.14 2.45 -0.27 4.85 7.74 1.54 1.51 Earnings per Share (diluted)
6.14 6.54 7.80 8.77 11.67 5.24 9.48 13.44 13.32 11.09 10.14 2.45 -0.27 4.85 7.74 1.54 1.51 eps without NRI
5.67 7.06 8.67 9.36 10.40 3.94 9.08 14.29 12.23 7.04 5.94 -3.30 -6.54 1.55 9.23 9.93 9.93 Owner Earnings per Share (TTM)
3.95 5.29 4.78 3.89 4.86 -0.24 5.85 7.29 4.01 -1.54 -2.09 -5.36 -2.89 3.65 8.79 6.97 6.96 Free Cashflow per Share
1.53 1.75 2.01 2.26 2.53 2.66 2.84 3.09 3.51 3.90 4.21 4.28 4.29 4.32 4.48 4.76 4.76 Dividends per Share
21.47 28.07 31.85 36.88 43.23 45.78 52.35 61.27 70.13 77.92 82.48 81.11 76.95 77.77 81.22 76.27 76.27 Book Value per Share
21.47 26.00 29.71 34.66 40.93 43.48 50.05 58.93 67.75 75.50 80.03 78.67 74.53 75.39 78.85 73.91 73.91 Tangible Book per Share
5.35 5.76 4.55 3.46 4.44 5.24 5.72 5.12 6.26 10.68 14.80 20.47 24.39 20.35 18.11 14.27 14.27 Total Debt per Share
52.51 56.77 73.53 93.33 73.97 76.99 91.25 106 108 125 112 89.96 118 125 109 121 96.59 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
32.70 26.13 26.04 25.60 29.23 11.74 19.31 23.75 20.30 15.00 12.65 2.98 -0.33 6.26 9.80 1.96 1.91 Return on Equity %
15.26 12.87 13.26 13.28 15.44 6.44 10.89 13.64 11.83 8.80 7.40 1.73 -0.19 3.58 5.84 1.19 1.16 Return on Assets %
65.19 63.79 49.03 44.00 50.54 19.43 30.61 32.86 26.53 17.71 17.83 2.58 -1.05 5.25 12.17 3.93 3.85 Return on Capital %
40.96 34.93 26.36 26.18 25.83 4.50 15.35 20.17 16.56 11.59 7.51 -2.05 -0.59 1.70 5.75 0.03 0.03 Return on Invested Capital %
7.41 8.76 9.08 10.24 5.88 6.98 7.22 7.04 8.25 8.62 7.82 8.30 8.78 8.82 7.30 6.18 5.41 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 0.29 0.45 -- -- -- -- -- 0.47 0.72 2.04 2.60 2.53 Effective Interest Rate on Debt %
32.42 28.91 31.40 31.39 28.19 25.37 34.65 33.37 33.14 32.37 31.94 30.12 28.52 29.37 28.26 21.83 21.83 Gross Margin %
18.68 17.40 15.47 14.69 14.08 4.24 12.80 15.67 15.18 12.36 9.84 -2.86 -4.96 2.32 9.09 0.07 0.07 Operating Margin %
8.58 7.11 8.16 8.46 8.94 6.23 9.60 11.01 11.35 9.73 9.60 3.53 -0.45 6.83 9.33 2.09 2.09 Net Margin %
5.40 5.75 5.00 3.76 3.72 -0.28 5.92 5.97 3.41 -1.35 -1.96 -7.73 -4.92 5.15 10.59 9.44 9.44 FCF Margin %
0.25 0.21 0.14 0.09 0.10 0.11 0.11 0.08 0.09 0.14 0.18 0.25 0.32 0.26 0.22 0.19 0.19 Debt to Equity
0.49 0.50 0.52 0.52 0.54 0.56 0.57 0.58 0.59 0.59 0.58 0.58 0.56 0.58 0.61 0.61 0.61 Total Equity to Total Asset
0.12 0.10 0.07 0.05 0.06 0.06 0.06 0.05 0.05 0.08 0.11 0.15 0.18 0.15 0.14 0.11 0.11 Total Debt to Total Asset
57.65 52.32 51.06 49.28 48.68 26.21 39.31 41.36 34.54 29.29 24.64 14.75 11.98 15.40 17.69 12.43 12.11 Gross Profit to Total Asset %
1.78 1.81 1.63 1.57 1.73 1.03 1.14 1.24 1.04 0.91 0.77 0.49 0.42 0.52 0.63 0.57 0.55 Asset Turnover
0.25 0.27 0.26 0.26 0.22 0.51 0.30 0.23 0.26 0.35 0.42 1.75 -- 0.89 0.58 3.09 3.09 Dividend Payout Ratio
29.21 31.65 30.62 37.09 21.96 38.88 38.57 32.55 33.24 35.85 30.47 36.13 46.67 41.61 34.57 34.77 34.77 Days Sales Outstanding
37.38 41.64 42.23 52.39 31.49 47.76 54.27 49.64 53.92 55.93 50.82 54.34 64.80 55.89 44.68 47.08 47.08 Days Accounts Payable
9.79 9.20 11.11 12.00 11.55 17.99 15.53 12.37 13.83 15.35 17.23 25.81 27.23 21.11 18.07 19.28 20.72 Days Inventory
1.62 -0.79 -0.50 -3.30 2.02 9.11 -0.17 -4.72 -6.85 -4.73 -3.12 7.60 9.10 6.83 7.96 6.97 8.41 Cash Conversion Cycle
37.28 39.67 32.84 30.42 31.60 20.29 23.50 29.51 26.38 23.78 21.18 14.14 13.41 17.29 20.20 18.93 17.61 Inventory Turnover
0.68 0.71 0.69 0.69 0.72 0.75 0.65 0.67 0.67 0.68 0.68 0.70 0.71 0.71 0.72 0.78 0.78 COGS to Revenue
0.02 0.02 0.02 0.02 0.02 0.04 0.03 0.02 0.03 0.03 0.03 0.05 0.05 0.04 0.04 0.04 0.04 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CVX 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
155,300 198,200 210,118 220,904 267,639 168,320 198,198 244,371 230,590 220,156 200,494 129,925 110,215 134,674 158,902 139,865 139,865 Revenue
104,948 140,902 144,139 151,564 192,192 125,619 129,530 162,834 154,179 148,882 136,464 90,788 78,778 95,114 113,997 109,331 109,331 Cost of Goods Sold
50,352 57,298 65,979 69,340 75,447 42,701 68,668 81,537 76,411 71,274 64,030 39,137 31,437 39,560 44,905 30,534 30,534 Gross Profit
32.42 28.91 31.40 31.39 28.19 25.37 34.65 33.37 33.14 32.37 31.94 30.12 28.52 29.37 28.26 21.83 21.83 Gross Margin %
4,557 4,828 5,093 5,926 5,756 4,527 4,767 4,745 4,724 4,510 4,494 4,443 4,305 4,110 3,838 4,143 4,143 Selling, General, & Admin.
Expense
16,785 17,976 28,389 30,974 32,000 31,043 38,526 38,493 36,674 39,551 39,810 38,404 32,603 32,322 26,621 26,291 26,291 Other Operating Expense
29,010 34,494 32,497 32,440 37,691 7,131 25,375 38,299 35,013 27,213 19,726 -3,710 -5,471 3,128 14,446 100.00 100.00 Operating Income
18.68 17.40 15.47 14.69 14.08 4.24 12.80 15.67 15.18 12.36 9.84 -2.86 -4.96 2.32 9.09 0.07 0.07 Operating Margin %
-- -- -- -- -- -28.00 -50.00 -- -- -- -- -- -201 -307 -748 -798 -798 Interest Expense
-- -- -- -- -- -28.00 -50.00 -- -- -- -- -- -201 -307 -748 -798 -798 Net Interest Income
-8,459 -9,297 -521 -273 5,366 11,425 6,730 9,335 11,319 8,692 11,476 8,552 3,512 6,400 6,877 6,234 6,234 Other Income (Expense)
-85.00 -96.00 -70.00 -107 -100.00 -80.00 -112 -113 -157 -174 -69.00 -123 -66.00 -74.00 -36.00 79.00 79.00 Other Income (Minority
Interest)
20,551 25,197 31,976 32,167 43,057 18,528 32,055 47,634 46,332 35,905 31,202 4,842 -2,160 9,221 20,575 5,536 5,536 Pre-Tax Income
-7,517 -11,098 -14,838 -13,479 -19,026 -7,965 -12,919 -20,626 -19,996 -14,308 -11,892 -132 1,729 48.00 -5,715 -2,691 -2,691 Tax Provision
36.58 44.04 46.40 41.90 44.19 42.99 40.30 43.30 43.16 39.85 38.11 2.73 80.05 -0.52 27.78 48.61 48.61 Tax Rate %
13,034 14,099 17,138 18,688 24,031 10,563 19,136 27,008 26,336 21,597 19,310 4,710 -431 9,269 14,860 2,845 2,845 Net Income (Continuing
Operations)
294 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
13,328 14,099 17,138 18,688 23,931 10,483 19,024 26,895 26,179 21,423 19,241 4,587 -497 9,195 14,824 2,924 2,924 Net Income
8.58 7.11 8.16 8.46 8.94 6.23 9.60 11.01 11.35 9.73 9.60 3.53 -0.45 6.83 9.33 2.09 2.09 Net Margin %
6.30 6.58 7.84 8.83 11.74 5.26 9.53 13.54 13.42 11.18 10.21 2.46 -0.27 4.88 7.81 1.55 1.55 EPS (Basic)
6.28 6.54 7.80 8.77 11.67 5.24 9.48 13.44 13.32 11.09 10.14 2.45 -0.27 4.85 7.74 1.54 1.51 EPS (Diluted)
2,122 2,156 2,197 2,132 2,050 2,001 2,007 2,001 1,965 1,932 1,884 1,875 1,873 1,898 1,914 1,895 1,882 Shares Outstanding (Diluted
Average)
4,935 5,913 7,506 8,708 9,528 12,110 13,063 12,911 13,413 14,186 16,793 21,037 19,457 19,349 19,419 29,218 29,218 Depreciation, Depletion and
Amortization
33,945 40,407 40,003 41,148 52,585 30,666 45,168 51,210 48,426 41,399 47,995 25,879 17,498 28,877 40,742 35,552 35,552 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CVX 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9,291 10,043 10,493 7,362 9,347 8,716 14,060 15,864 20,939 16,245 12,785 11,022 6,988 4,813 9,342 5,686 5,686 Cash And Cash Equivalents
1,451 1,101 953 732 213 106 155 4,207 974 271 430 310 13.00 9.00 1,003 63.00 63.00 Marketable Securities
10,742 11,144 11,446 8,094 9,560 8,822 14,215 20,071 21,913 16,516 13,215 11,332 7,001 4,822 10,345 5,749 5,749 Cash, Cash Equivalents,
Marketable Securities
12,429 17,184 17,628 22,446 16,102 17,931 20,943 21,793 20,997 21,622 16,736 12,860 14,092 15,353 15,050 13,325 13,325 Accounts Receivable
486 694 812 1,017 1,679 1,849 1,904 1,621 1,746 2,010 2,184 2,309 2,244 1,967 1,834 1,634 1,634 Inventories, Raw Materials &
Components
2,497 3,427 3,844 4,293 5,175 3,680 3,589 3,922 4,398 4,370 4,321 4,025 3,175 3,618 3,870 4,214 4,214 Inventories, Finished Goods
2,983 4,121 4,656 5,310 6,854 5,529 5,493 5,543 6,144 6,380 6,505 6,334 5,419 5,585 5,704 5,848 5,848 Total Inventories
2,349 1,887 2,574 3,527 4,200 5,162 8,374 5,827 6,666 5,732 5,776 3,904 3,107 2,800 2,922 3,407 3,407 Other Current Assets
28,503 34,336 36,304 39,377 36,470 37,216 48,841 53,234 55,720 50,250 42,232 34,430 29,619 28,560 34,021 28,329 28,329 Total Current Assets
-- -- -- -- 20,920 21,158 21,520 22,868 23,718 25,502 26,912 27,110 30,250 32,497 35,546 38,688 38,688 Investments And Advances
103,954 127,446 137,747 154,084 173,299 188,288 207,367 233,432 263,481 296,433 327,289 340,277 336,077 344,485 340,244 326,722 326,722 Gross Property, Plant and
Equipment
-59,496 -63,756 -68,889 -75,474 -81,519 -91,820 -102,863 -110,824 -122,133 -131,604 -144,116 -151,881 -153,891 -166,773 -171,037 -176,228 -176,228 Accumulated Depreciation
44,458 63,690 68,858 78,610 91,780 96,468 104,504 122,608 141,348 164,829 183,173 188,396 182,186 177,712 169,207 150,494 150,494 Property, Plant and Equipment
-- 4,636 4,623 4,637 4,619 4,618 4,617 4,642 4,640 4,639 4,593 4,588 4,581 4,531 4,518 4,463 4,463 Intangible Assets
-- 4,636 4,623 4,637 4,619 4,618 4,617 4,642 4,640 4,639 4,593 4,588 4,581 4,531 4,518 4,463
4,463 Goodwill
20,247 23,171 22,843 26,162 7,376 5,161 5,287 6,122 7,556 8,533 9,116 10,016 13,442 10,506 10,571 15,454 15,454 Other Long Term Assets
93,208 125,833 132,628 148,786 161,165 164,621 184,769 209,474 232,982 253,753 266,026 264,540 260,078 253,806 253,863 237,428 237,428 Total Assets
10,747 16,074 16,675 21,756 16,580 16,437 19,259 22,147 22,776 22,815 19,000 13,516 13,986 14,565 13,953 14,103 14,103 Accounts Payable
-- -- -- -- 4,548 4,015 4,242 5,826 5,571 4,427 3,808 2,191 2,077 2,713 2,565 2,556 2,556 Total Tax Payable
14,157 19,764 21,221 27,031 29,205 25,827 28,825 33,260 34,085 32,644 28,136 20,540 20,945 22,545 21,445 23,248 23,248 Accounts Payable & Accrued
Expense
816 739 2,159 1,162 2,818 384 187 340 127 374 3,790 4,927 10,840 5,192 5,726 3,282 3,282 Current Portion of Long-Term
Debt
3,822 4,508 5,029 5,605 -- -- -- -- -- -- -- -- -- -- -- -- -- Other Current Liabilities
18,795 25,011 28,409 33,798 32,023 26,211 29,012 33,600 34,212 33,018 31,926 25,467 31,785 27,737 27,171 26,530 26,530 Total Current Liabilities
10,217 11,807 7,405 5,664 5,742 9,829 11,003 9,684 11,966 19,960 23,960 33,542 35,193 33,571 28,733 23,691 23,691 Long-Term Debt
239 324 274 406 341 301 286 128 99.00 97.00 68.00 80.00 93.00 -- -- -- -- Capital Lease Obligation
10,456 12,131 7,679 6,070 6,083 10,130 11,289 9,812 12,065 20,057 24,028 33,622 35,286 33,571 28,733 23,691 23,691 Long-Term Debt & Capital
Lease Obligation
0.25 0.21 0.14 0.09 0.10 0.11 0.11 0.08 0.09 0.14 0.18 0.25 0.32 0.26 0.22 0.19 0.19 Debt to Equity
-- -- -- -- -- -- 6,696 9,156 9,699 5,968 8,412 7,935 7,216 7,421 6,654 7,866 7,866 PensionAndRetirementBenefit
7,268 11,262 11,647 12,170 29,217 28,911 31,961 34,725 39,174 44,283 45,469 43,630 39,069 35,758 35,663 34,133 34,133 NonCurrent Deferred Liabilities
172 200 209 204 469 647 730 799 1,308 1,314 1,163 1,170 1,166 1,195 1,088 995 995 Minority Interest
11,287 14,553 15,749 19,456 6,725 6,808 -- -- -- -- -- -- -- -- Other Long-Term Liabilities
-- -- --
47,806 62,957 63,484 71,494 74,048 72,060 78,958 87,293 95,150 103,326 109,835 110,654 113,356 104,487 98,221 92,220 92,220 Total Liabilities
1,706 1,832 1,832 1,832 1,832 1,832 1,832 1,832 1,832 1,832 1,832 1,832 1,832 1,832 1,832 1,832 1,832 Common Stock
45,414 55,738 68,464 82,329 101,102 106,289 119,641 140,399 159,730 173,677 184,987 181,578 173,046 174,106 180,987 174,945 174,945 Retained Earnings
-926 -918 -3,092 -2,470 -3,924 -4,321 -4,466 -6,320 -6,651 -3,819 -5,099 -4,531 -4,083 -3,829 -3,784 -5,230 -5,230 Accumulated other
comprehensive income (loss)
4,160 13,894 14,126 14,289 14,448 14,631 14,796 15,156 15,497 15,713 16,041 16,330 16,595 16,848 17,112 17,265 17,265 Additional Paid-In Capital
-5,124 -7,870 -12,395 -18,892 -26,376 -26,168 -26,411 -29,685 -33,884 -38,290 -42,733 -42,493 -41,834 -40,833 -41,593 -44,599 -44,599 Treasury Stock
45,230 62,676 68,935 77,088 86,648 91,914 105,081 121,382 136,524 149,113 155,028 152,716 145,556 148,124 154,554 144,213 144,213 Total Equity
0.49 0.50 0.52 0.52 0.54 0.56 0.57 0.58 0.59 0.59 0.58 0.58 0.56 0.58 0.61 0.61 0.61 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CVX 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
13,328 14,099 17,138 18,688 24,031 10,563 19,136 27,008 26,336 21,597 19,310 4,710 -431 9,269 14,860 2,845 2,845 Net Income
-- -- -- -- -355 466 251 -103 207 -103 -277 -82.00 186 131 123 272 272 Net Foreign Currency Exchange
Gain
13,328 14,099 17,138 18,688 24,031 10,563 19,136 27,008 26,336 21,597 19,310 4,710 -431 9,269 14,860 2,845 2,845 Net Income From Continuing
Operations
4,935 5,913 7,506 8,708 9,528 12,110 13,063 12,911 13,413 14,186 16,793 21,037 19,457 19,349 19,419 29,218 29,218 Depreciation, Depletion and
Amortization
-2,515 -191 17.00 -3,867 5,869 -1,734 -2,767 -2,156 1,153 -1,101 4,491 3,631 -2,121 -915 437 1,852 1,852 Change In Receivables
-298 -- -536 -749 -1,545 1,213 15.00 -404 -233 -237 -146 85.00 603 -267 -424 7.00 7.00 Change In Inventory
-76.00 -- -31.00 -370 -621 -264 -542 -853 -471 834 -407 713 829 173 -149 -323 -323 Change In Prepaid Assets
2,175 -- 1,246 4,930 -5,537 -1,774 3,370 5,731 -86.00 -827 -4,478 -6,408 362 1,529 -582 -42.00 -42.00 Change In Payables And Accrued
Expense
430 477 376 73.00 -1,918 -2,358 112 2,509 1,241 -1,469 -286 -2,013 -280 -102 -300 1,927 1,927 Change In Working Capital
-224 1,393 614 261 598 -- 559 1,589 2,015 1,876 1,572 -1,861 -3,835 -3,203 1,050 -1,966 -1,966 Change In DeferredTax
-3,779 -1,777 -1,311 -2,753 -2,607 -942 -1,516 -2,922 -4,193 -1,188 -5,914 -2,417 -2,221 -4,975 -4,411 -4,710 -4,710 Cash Flow from Others
14,690 20,105 24,323 24,977 29,632 19,373 31,354 41,095 38,812 35,002 31,475 19,456 12,690 20,338 30,618 27,314 27,314 Cash Flow from Operations
-6,310 -8,701 -13,813 -16,678 -19,666 -19,843 -19,612 -26,500 -30,938 -37,985 -35,407 -29,504 -18,109 -13,404 -13,792 -14,116 -14,116 Purchase Of Property, Plant,
Equipment
3,671 2,681 989 3,338 1,491 -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -3,009 -- -- -- -- -- -- -- -- -- Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- 322 166 392 142 -- Sale Of Business
-450 -- -- -799 -- -- -5,882 -6,806 -962 -2,108 -686 -6.00 -9.00 -3.00 -1,001 -1.00 -951 Purchase Of Investment
-- 336 142 185 915 371 2,246 5,373 3,999 3,027 331 180 306 7.00 -- 953 953 Sale Of Investment
-410 -5,877 463 21.00 179 2,900 2,333 3,453 3,105 1,457 5,869 5,522 1,120 4,914 2,111 1,564 1,706 Cash From Other Investing Activities
-3,499 -11,561 -12,219 -13,933 -17,081 -16,572 -20,915 -27,489 -24,796 -35,609 -29,893 -23,808 -16,370 -8,320 -12,290 -11,458 -11,458 Cash Flow from Investing
-- -- -- -- -- -- -- -- -- -- -- 211 650 1,117 -- -- -- Issuance of Stock
-1,663 -2,737 -4,491 -6,389 -6,821 168 -306 -3,193 -4,142 -4,494 -4,412 -- -- -1.00 -1,751 -4,039 -4,039 Repurchase of Stock
-1,284 -1,055 -2,901 -3,038 1,682 1,659 882 -2,369 2,047 8,246 7,388 10,724 7,470 -7,461 -4,502 -7,846 -7,846 Net Issuance of Debt
-3,277 -3,876 -4,396 -4,791 -5,162 -5,302 -5,669 -6,136 -6,844 -7,474 -7,928 -7,992 -8,032 -8,132 -8,502 -8,959 -8,959 Cash Flow for Dividends
-- -- -60.00 -77.00 -99.00 -71.00 -72.00 -71.00 -41.00 -99.00 -47.00 -128 -63.00 1,040 1,056 1,086 1,086 Other Financing
-6,224 -7,668 -11,848 -14,295 -10,400 -3,546 -5,165 -11,769 -8,980 -3,821 -4,999 2,815 25.00 -14,554 -13,699 -19,758 -19,758 Cash Flow from Financing
5,025 752 450 -3,131 1,985 -631 5,344 1,804 5,075 -4,694 -3,460 -1,763 -3,708 -2,471 4,538 -3,570 -3,570 Net Change in Cash
-6,310 -8,701 -13,813 -16,678 -19,666 -19,843 -19,612 -26,500 -30,938 -37,985 -35,407 -29,504 -18,109 -13,404 -13,792 -14,116 -14,116 Capital Expenditure
8,380 11,404 10,510 8,299 9,966 -470 11,742 14,595 7,874 -2,983 -3,932 -10,048 -5,419 6,934 16,826 13,198 13,198 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CVX 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
8.36 8.68 9.43 10.64 6.34 14.69 5.59 7.92 8.12 11.26 11.06 36.72 -- 25.81 14.06 79.81 63.97 PE Ratio(TTM)
9.27 8.04 8.48 9.98 7.11 19.53 10.05 7.45 8.84 17.75 18.90 -- -- 80.66 11.79 12.14 9.73 Price to Owner Earnings
(TTM)
2.45 2.02 2.31 2.53 1.71 1.68 1.74 1.74 1.54 1.60 1.36 1.11 1.53 1.61 1.34 1.58 1.27 Price to Book
2.45 2.18 2.47 2.69 1.81 1.77 1.82 1.81 1.60 1.65 1.40 1.14 1.58 1.66 1.38 1.63 1.31 Price to Tangible Book
13.31 10.73 15.40 24.02 15.34 -- 15.60 14.60 27.02 -- -- -- -- 34.29 12.38 17.32 13.88 Price-to-Free-Cash-Flow
Ratio
7.59 6.10 6.64 7.96 5.13 7.95 5.84 5.18 5.47 6.89 6.76 8.67 17.42 11.69 6.80 8.36 6.70 Price-to-Operating-Cash-
Flow Ratio
0.71 0.62 0.77 0.90 0.57 0.92 0.92 0.87 0.92 1.10 1.06 1.30 2.00 1.76 1.31 1.63 1.31 PS Ratio
-- -- 0.78 0.85 0.71 4.91 4.27 0.91 1.39 2.44 4.89 -- -- -- -- 22.11 91.43 PEG Ratio
0.71 0.65 0.75 0.88 0.55 0.93 0.91 0.83 0.88 1.11 1.13 1.52 2.39 2.03 1.46 1.79 1.46 EV-to-Revenue
3.20 3.18 4.45 4.73 2.82 5.12 4.01 3.57 4.17 5.90 4.72 8.37 15.03 9.47 5.70 7.03 5.73 EV-to-EBITDA
3.73 3.73 5.64 5.99 3.44 8.46 5.64 4.63 5.77 8.98 7.26 76.09 -134 28.71 10.89 39.48 32.17 EV-to-EBIT
26.81 26.81 17.73 16.69 29.07 11.82 17.73 21.60 17.33 11.14 13.77 1.31 -0.75 3.48 9.18 2.53 3.11 Return on Capital %
-0.32 3.64 16.65 17.00 14.87 7.76 5.56 12.70 9.82 6.90 4.69 -6.34 -19.68 -17.25 -6.77 5.10 5.47 Forward Rate of Return
19.37 16.92 18.44 19.81 12.93 12.44 12.29 12.36 10.79 11.49 10.11 8.44 11.89 13.00 11.78 13.47 10.80 Shiller PE Ratio
2.91 3.08 2.73 2.42 3.42 3.45 3.11 2.90 3.25 3.12 3.75 4.76 3.64 3.45 4.12 3.95 5.05 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
110,645 126,750 159,160 195,100 148,253 154,574 183,183 210,796 210,516 239,028 210,859 169,378 222,631 238,449 207,010 227,869 181,524 Market Cap
111,347 128,676 157,761 194,442 148,063 156,913 181,174 201,676 202,103 244,257 226,625 197,765 262,922 273,585 232,212 250,088 203,743 Enterprise Value
52.51 56.77 73.53 93.33 73.97 76.99 91.25 106 108 125 112 89.96 118 125 109 121 96.59 Month End Stock Price
-17.67 -23.30 -24.14 -30.43 -32.41 -31.82 -32.61 -34.33 -38.29 -46.05 -52.02 -53.37 -56.84 -52.95 -46.75 -46.26 -46.26 Net Cash (per share)
-9.24 -12.91 -12.65 -15.46 -18.98 -17.68 -15.37 -17.59 -20.93 -28.42 -36.58 -41.11 -44.89 -40.49 -34.31 -34.32 -34.32 Net Current Asset Value
(per share)
-12.54 -16.60 -16.95 -21.10 -24.67 -23.74 -23.42 -24.68 -28.63 -35.91 -43.61 -46.57 -49.82 -45.44 -39.32 -39.43 -39.43 Net-Net Working Capital
(per share)
45.52 59.94 72.32 85.36 103 78.31 82.40 95.88 98.17 95.90 91.44 79.78 62.13 55.82 66.01 76.09 76.09 Projected FCF (per share)
61.08 69.52 69.32 74.96 92.46 58.81 70.93 91.38 92.16 94.31 92.46 62.50 55.41 69.93 85.74 79.59 79.59 Median PS (per share)
42.98 73.66 94.69 110 104 52.71 -- 117 77.79 110 67.84 -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
54.46 61.85 72.21 82.70 104 71.60 103 133 142 137 135 65.86 -- 90.70 117 50.61 50.11 Graham Number (per share)
155 169 193 60.34 57.66 29.68 19.07 28.33 11.11 -21.31 -36.65 -83.58 -121 -107 -79.78 -68.02 -68.02 Earnings Power Value
(EPV)
4.60 4.15 4.68 4.66 4.65 3.67 4.07 4.42 4.04 3.76 3.31 2.47 2.50 2.99 3.20 3.20 2.90 Altman Z-Score
7.00 5.00 6.00 6.00 7.00 5.00 7.00 8.00 5.00 4.00 4.00 4.00 2.00 8.00 8.00 5.00 5.00 Piotroski F-Score
-2.42 -2.41 -2.95 -2.66 -2.85 -2.46 -2.79 -6.49 -2.99 -2.86 -3.13 -3.12 -2.62 -2.66 -2.79 -3.00 -3.00 Beneish M-Score
0.56 0.69 0.54 0.58 0.58 0.59 0.63 0.61 0.61 0.66 0.67 0.68 0.70 0.71 0.71 0.66 0.65 Scaled Net Operating
Assets
2.29 4.41 3.80 5.14 7.06 4.67 4.65 6.34 5.22 8.68 6.64 3.38 1.22 -1.11 -1.38 -5.45 -5.45 Sloan Ratio (%)
1.52 1.37 1.28 1.17 1.14 1.42 1.68 1.58 1.63 1.52 1.32 1.35 0.93 1.03 1.25 1.07 1.07 Current Ratio
1.36 1.21 1.11 1.01 0.92 1.21 1.49 1.42 1.45 1.33 1.12 1.10 0.76 0.83 1.04 0.85 0.85 Quick Ratio
55.41 65.77 75.97 95.08 103 79.64 91.60 110 118 128 135 113 119 126 134 127 127 Highest Stock Price
42.22 50.51 54.08 66.43 57.83 56.46 67.31 89.88 96.41 108 101 70.02 78.98 103 101 109 90.11 Lowest Stock Price
1.46 -5.96 3.05 3.42 4.12 -0.17 0.01 1.31 1.74 1.70 1.77 -0.17 -0.46 -0.70 0.10 0.63 0.63 Shares Buyback Ratio (%)
25.36 25.64 4.02 8.35 26.00 -35.57 17.40 23.67 -3.91 -2.89 -6.61 -34.89 -15.08 20.58 17.00 -11.10 -11.10 YoY Rev. per Sh. Growth
(%)
80.46 4.14 19.27 12.44 33.07 -55.10 80.92 41.77 -0.89 -16.74 -8.57 -75.84 -111 1,896 59.59 -80.10 -80.49 YoY EPS Growth (%)
29.54 17.19 -2.86 6.00 32.91 -40.26 46.85 13.72 -3.70 -13.05 18.89 -45.82 -32.31 62.86 39.91 -11.86 -11.89 YoY EBITDA Growth (%)
-5.55 -2.10 12.14 12.59 8.91 2.99 1.31 8.70 5.84 4.62 2.26 -7.12 -18.55 -16.17 -7.03 3.61 0.70 EBITDA 5-Y Growth (%)
2,116 2,143 2,186 2,118 2,038 1,992 1,996 1,986 1,950 1,917 1,883 1,868 1,873 1,883 1,898 1,882 1,870 Shares Outstanding (Basic
Average)
2,107 2,233 2,165 2,090 2,004 2,008 2,007 1,981 1,947 1,914 1,880 1,883 1,892 1,905 1,903 1,891 1,891 Shares Outstanding (EOP)
0.67 0.87 0.84 1.11 0.66 0.59 0.72 0.92 1.15 1.02 1.08 1.25 1.31 1.32 0.95 0.82 0.82 Beta
03/03/05 03/01/06 02/28/07 02/28/08 02/26/09 02/25/10 02/24/11 02/23/12 02/22/13 02/21/14 02/20/15 02/25/16 02/23/17 02/22/18 02/22/19 02/21/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CVX 6/7
03/01/06 02/28/07 02/28/08 02/26/09 02/24/11 02/23/12 02/22/13 02/21/14 02/20/15 02/25/16 02/23/17 02/22/18 02/22/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CVX 7/7
Garmin Ltd (NAS:GRMN) 03/02/2020 4:00PM EST GuruFocus
Price: $ 93.47 +5.08(+5.75%) Market Cap: $ 17.82 B Enterprise Value: $16.47 B Stock PDF
Financial Strength : 8/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 18.73
Cash to Debt 28.52 Operating margin (%) 25.17
Forward P/E N/A
Equity to Asset 0.78 Net-margin (%) 25.35
PE(NRI) 18.73
Interest Coverage N/A ROE (%) 21.84
F-Score:
P/B 3.73
ROA (%) 16.94
6 P/S 4.75
Z-Score: ROC (Joel Greenblatt) (%) 77.83
10.05 PFCF 30.88
Revenue Growth (3Y)(%) 7.00
M-Score: POCF 25.55
-2.08 EBITDA Growth (3Y)(%) 13.20
EV-to-EBIT 17.42
WACC vs 5.41% EPS Growth (3Y)(%) 22.30
ROIC 29.34% PEG 2.28
WACC
ROIC Shiller P/E 28.13
Current Ratio 2.95
Quick Ratio 2.22
Days Inventory 158.65
Days Sales Outstanding 68.65
Warning Signs Quarterly Revenues Company Description
Dividend Yield %: Close to 5- Mar Jun Sep Dec Full Year Garmin produces GPS-enabled hardware and software for five verticals: fitness, outdoors, auto, aviation, and marine.
The company relies on licensing mapping data to enable its hardware specialized for often niche activities like scuba
year low 2016 624 812 722 888 3,046 diving or sailing. Garmin operates in 100 countries and sells its products via distributors as well as relationships with
2017 642 831 751 897 3,122 original-equipment manufacturers.... (Read More)
Price: Close to 10-year high , , , , , , ,
2018 711 894 810 932 3,347 Competitors: NYSE:KEYS OSTO:HEXA B NYSE:TDY NYSE:FTV NAS:TRMB TSE:8036 NAS:CGNX
NAS:FLIR, TSE:7701, NYSE:ST, NAS:MKSI, SZSE:002414, LSE:SXS, TSE:6920, LSE:RSW, NAS:COHR, NAS:ITRI,
PS Ratio: Close to 10-year 2019 766 955 934 1,102 3,758 NAS:NOVT, SZSE:300456, NAS:IIVI
high 2020
Insider Trades
Tax Rate: Tax Rate is too low Quarterly Earnings per Share
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year
2016 0.46 0.85 0.66 0.72 2.69
2017 1.26 0.94 0.80 0.73 3.73
Good Signs 2018 0.68 1.00 0.97 1.00 3.65
Interest Coverage: 2019 0.74 1.17 1.19 1.89 4.99
Comfortable 2020
Operating Margin %: Quarterly Dividends Per Share
Expansion Mar Jun Sep Dec Full Year
PE Ratio: Close to 1-year low 2016 0.51 0.51 0.51 0.51 2.04
2017 0.51 0.51 0.51 0.51 2.04
PB Ratio: Close to 1-year low 2018 0.51 0.53 0.53 0.53 2.10
2019 0.53 0.57 0.57 0.57 2.24
DCF 2020
GuruFocus does not Growth Rate
calculate intrinsic value: DCF Annual Rates(per share) 10-Y 5-Y 12-M
(Earnings Based) for
Revenue Growth (%) 3.10 5.90 11.60
companies with one star
predictability or not rated. But EBITDA Growth (%) 2.70 8.20 19.50
you can go to each stock's Free Cash Flow Growth (%) -4.10 16.40 -24.30
DCF page to calculate
Book Value Growth (%) 4.40 7.50 14.30
yourself.
EPS Growth (%) 3.10 20.30 36.30
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GRMN 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3.50 4.71 8.11 14.46 16.59 14.65 13.59 14.15 13.84 13.40 14.79 14.76 16.09 16.54 17.64 19.68 19.68 Revenue per Share
1.40 1.75 2.74 4.74 4.72 4.50 3.40 3.33 3.54 3.33 3.95 3.29 3.80 4.08 4.61 5.51 5.51 EBITDA per Share
1.24 1.55 2.54 4.45 4.34 4.02 2.92 2.84 3.08 2.92 3.56 2.88 3.34 3.62 4.10 4.95 4.95 EBIT per Share
0.95 1.43 2.35 3.89 3.48 3.50 2.95 2.67 2.76 3.12 1.88 2.39 2.73 3.76 3.66 4.99 4.99 Earnings per Share (diluted)
0.95 1.43 2.35 3.89 3.48 3.50 2.95 2.67 2.76 3.12 1.88 2.39 2.73 3.76 3.66 4.99 4.99 eps without NRI
0.87 1.01 1.34 2.56 3.63 4.53 3.02 3.49 2.80 2.97 2.19 0.72 2.95 2.72 4.00 2.72 2.72 Owner Earnings per Share (TTM)
0.60 1.01 1.22 2.38 3.49 5.16 3.71 3.99 3.26 2.92 2.29 1.03 3.22 2.70 4.00 3.03 3.03 Free Cashflow per Share
0.25 0.25 0.50 0.75 0.75 0.75 1.50 1.60 1.75 1.80 1.89 2.01 2.04 2.04 2.10 2.24 2.24 Dividends per Share
4.32 5.35 7.21 10.83 11.11 14.16 15.69 16.73 18.06 18.75 17.74 17.63 18.13 20.47 21.97 25.11 25.07 Book Value per Share
4.32 5.19 6.90 9.93 9.96 13.10 14.74 15.46 16.87 17.63 16.61 16.34 16.51 18.29 19.77 21.66 21.62 Tangible Book per Share
-- -- 0.00 -- -- -- -- -- -- -- -- -- -- -- -- 0.26 0.26 Total Debt per Share
30.42 33.18 55.66 97.00 19.17 30.70 30.99 39.81 40.75 46.19 52.83 37.17 48.49 59.57 63.32 97.56 93.47 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
24.41 29.74 37.87 43.75 32.03 27.81 19.86 16.52 15.98 17.03 10.31 13.52 15.31 19.50 17.32 21.27 21.84 Return on Equity %
20.84 25.10 31.55 32.96 23.54 20.82 14.96 12.31 11.68 12.63 7.61 9.93 11.47 14.97 13.44 16.49 16.94 Return on Assets %
102 91.83 102 107 76.21 70.88 57.49 64.86 87.06 88.90 117 85.39 79.49 70.27 73.45 77.72 77.83 Return on Capital %
41.80 40.00 49.47 57.61 44.26 42.21 36.95 27.26 26.20 24.02 15.91 20.39 22.30 27.25 23.53 29.35 29.34 Return on Invested Capital %
9.16 15.53 17.10 10.16 11.52 10.92 10.63 7.48 6.81 4.91 7.04 4.11 5.46 4.36 5.70 5.67 5.41 Weighted Average Cost Of Capital (WACC) %
-- -- -- 167 -- -- -- -- -- -- -- -- -- -- -- -- -- Effective Interest Rate on Debt %
53.93 52.06 49.74 46.01 44.46 49.01 50.05 48.52 52.97 53.47 55.89 54.56 55.44 57.60 59.14 59.45 59.45 Gross Margin %
35.50 32.90 31.26 28.53 24.67 26.68 23.67 20.07 22.25 21.81 24.06 19.49 20.78 21.90 23.25 25.17 25.17 Operating Margin %
26.98 30.28 28.98 26.88 20.97 23.89 21.73 18.88 19.97 23.27 12.69 16.18 17.00 22.71 20.73 25.35 25.35 Net Margin %
17.15 21.39 14.99 16.43 21.05 35.22 27.31 28.17 23.55 21.77 15.49 6.95 19.99 16.30 22.68 15.39 15.39 FCF Margin %
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.01 0.01 Debt to Equity
0.84 0.85 0.82 0.71 0.76 0.74 0.77 0.73 0.73 0.75 0.73 0.74 0.76 0.78 0.77 0.78 0.78 Total Equity to Total Asset
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.01 0.01 Total Debt to Total Asset
41.66 43.16 54.15 56.40 49.91 42.71 34.45 31.65 30.97 29.02 33.52 33.48 37.42 37.96 38.33 38.68 39.74 Gross Profit to Total Asset %
0.77 0.83 1.09 1.23 1.12 0.87 0.69 0.65 0.59 0.54 0.60 0.61 0.68 0.66 0.65 0.65 0.67 Asset Turnover
0.27 0.18 0.21 0.19 0.22 0.21 0.51 0.60 0.63 0.58 1.01 0.84 0.75 0.54 0.57 0.45 0.45 Dividend Payout Ratio
52.71 60.73 83.02 109 77.44 108 101 80.37 81.14 78.30 72.50 68.78 63.16 69.09 62.13 68.65 68.65 Days Sales Outstanding
55.76 56.68 36.18 72.50 30.11 49.41 35.96 42.16 37.51 43.69 42.98 50.95 46.36 46.78 54.70 57.70 57.70 Days Accounts Payable
131 131 96.38 82.53 87.54 89.32 94.75 101 113 115 116 131 132 138 144 157 159 Days Inventory
128 135 143 119 135 148 160 139 156 150 145 149 149 161 151 168 170 Cash Conversion Cycle
2.79 2.78 3.79 4.42 4.17 4.09 3.85 3.62 3.24 3.17 3.15 2.78 2.75 2.64 2.53 2.32 2.30 Inventory Turnover
0.46 0.48 0.50 0.54 0.56 0.51 0.50 0.51 0.47 0.47 0.44 0.45 0.45 0.42 0.41 0.41 0.41 COGS to Revenue
0.17 0.17 0.13 0.12 0.13 0.13 0.13 0.14 0.15 0.15 0.14 0.16 0.16 0.16 0.16 0.18 0.18 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GRMN 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
763 1,028 1,774 3,180 3,494 2,946 2,690 2,759 2,716 2,632 2,871 2,820 3,046 3,122 3,347 3,758 3,758 Revenue
351 493 892 1,717 1,941 1,502 1,344 1,420 1,277 1,225 1,266 1,282 1,357 1,324 1,368 1,524 1,524 Cost of Goods Sold
411 535 882 1,463 1,554 1,444 1,346 1,339 1,438 1,407 1,604 1,539 1,689 1,798 1,980 2,234 2,234 Gross Profit
53.93 52.06 49.74 46.01 44.46 49.01 50.05 48.52 52.97 53.47 55.89 54.56 55.44 57.60 59.14 59.45 59.45 Gross Margin %
61.58 122 215 396 485 420 432 486 509 468 519 562 588 603 634 683 683 Selling, General, & Admin. Expense
78.99 74.88 113 159 206 238 277 299 326 365 395 427 468 512 568 605 605 Research & Development
-- -- -- 0.00 0.00 0.00 -- -- -0.00 -0.00 0.00 -- -- 0.00 0.00 0.00 -- Other Operating Expense
271 338 555 907 862 786 637 554 604 574 691 550 633 684 778 946 946 Operating Income
35.50 32.90 31.26 28.53 24.67 26.68 23.67 20.07 22.25 21.81 24.06 19.49 20.78 21.90 23.25 25.17 25.17 Operating Margin %
-- -- -- 42.00 35.54 23.52 24.98 32.81 35.11 35.27 35.58 29.65 33.41 36.93 47.15 52.82 52.82 Interest Income
-- -- -- -0.21 -0.61 -- -1.25 -- -- -- -- -- -- -- -- -- -- Interest Expense
-- -- -- 41.79 34.93 23.52 23.73 32.81 35.11 35.27 35.58 29.65 33.41 36.93 47.15 52.82 52.82 Net Interest Income
-15.46 34.43 40.00 29.13 17.42 -0.88 -83.14 -2.42 -14.74 44.26 -2.46 -12.05 -27.65 -23.49 -2.24 -11.18 -11.18 Other Income (Expense)
255 373 595 978 914 809 577 584 625 654 724 567 639 697 823 987 987 Pre-Tax Income
-49.51 -61.38 -80.43 -123 -182 -105 7.33 -63.27 -82.13 -41.15 -360 -111 -121 11.94 -129 -34.74 -34.74 Tax Provision
19.40 16.47 13.53 12.60 19.85 12.95 -1.27 10.83 13.15 6.30 49.68 19.56 18.93 -1.71 15.69 3.52 3.52 Tax Rate %
206 311 514 855 733 704 585 521 542 612 364 456 518 709 694 952 952 Net Income (Continuing Operations)
206 311 514 855 733 704 585 521 542 612 364 456 518 709 694 952 952 Net Income
26.98 30.28 28.98 26.88 20.97 23.89 21.73 18.88 19.97 23.27 12.69 16.18 17.00 22.71 20.73 25.35 25.35 Net Margin %
0.95 1.44 2.38 3.95 3.51 3.51 2.97 2.68 2.78 3.13 1.89 2.39 2.74 3.77 3.68 5.01 5.02 EPS (Basic)
0.95 1.43 2.35 3.89 3.48 3.50 2.95 2.67 2.76 3.12 1.88 2.39 2.73 3.76 3.66 4.99 4.99 EPS (Diluted)
218 218 219 220 211 201 198 195 196 196 194 191 189 189 190 191 191 Shares Outstanding (Diluted
Average)
34.60 43.60 44.48 64.04 78.42 96.49 94.65 94.54 90.47 78.80 77.02 78.36 86.34 86.25 96.19 106 106 Depreciation, Depletion and
Amortization
305 382 599 1,043 993 905 673 648 695 653 768 628 719 770 875 1,052 1,052 EBITDA
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
250 334 337 708 696 1,092 1,261 1,287 1,231 1,179 1,196 833 847 891 1,202 1,028 1,028 Cash And Cash Equivalents
64.37 32.05 73.03 37.55 12.89 19.58 24.42 111 153 150 168 215 267 162 183 376 376 Marketable Securities
314 366 410 745 709 1,111 1,285 1,398 1,384 1,329 1,364 1,048 1,114 1,053 1,385 1,404 1,404 Cash, Cash Equivalents, Marketable
Securities
110 171 404 953 741 874 747 607 604 565 570 531 527 591 570 707 707 Accounts Receivable
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GRMN 3/7
69.04 65.35 -- 130 151 80.96 103 129 119 131 161 203 152 180 206 260 260 Inventories, Raw Materials &
Components
29.96 27.85 -- 57.62 28.76 32.59 43.51 52.18 53.66 50.11 53.82 69.69 61.05 75.75 96.56 133 133 Inventories, Work In Process
-11.29 -14.76 -- -31.19 -23.20 -38.90 -37.72 -29.37 -26.11 -28.38 -39.08 -46.07 -- -- -- -- -- Inventories, Inventories
Adjustments
67.27 121 -- 349 269 235 279 246 243 229 244 274 271 262 260 360 360 Inventories, Finished Goods
-0.00 0.00 271 -0.00 -- -- -- -- -- -- 0.00 -- -- -- 0.00 0.00 0.00 Inventories, Other
155 200 271 505 425 310 388 398 390 382 420 501 485 518 562 753 753 Total Inventories
57.60 63.93 84.20 130 109 101 78.57 171 158 182 156 131 137 184 149 194 194 Other Current Assets
637 801 1,169 2,333 1,984 2,396 2,499 2,575 2,536 2,596 2,511 2,211 2,263 2,346 2,665 3,058 3,058 Total Current Assets
-- -- -- 387 264 746 777 1,097 1,488 1,502 1,407 1,343 1,213 1,260 1,330 1,205 1,205 Investments And Advances
30.93 31.08 37.10 79.45 88.27 92.09 94.79 95.57 97.43 98.32 94.25 85.16 105 115 132 133 133 Land And Improvements
101 106 159 204 245 268 274 278 285 301 325 352 377 483 539 577 577 Buildings And Improvements
91.07 109 144 186 246 265 290 338 378 397 441 472 498 565 603 696 696 Machinery, Furniture, Equipment
223 247 339 483 593 640 678 711 760 796 860 909 980 1,162 1,273 1,470 1,470 Gross Property, Plant and Equipment
-51.40 -67.34 -88.50 -109 -148 -199 -250 -294 -350 -381 -429 -463 -497 -566 -610 -677 -677 Accumulated Depreciation
172 179 251 374 445 441 428 417 410 415 431 446 483 596 664 793 793 Property, Plant and Equipment
-- 35.87 67.58 196 231 214 185 247 233 219 218 246 305 410 417 660 660 Intangible Assets
-- -- -- -- -- -- -- 179 176 179 179 188 225 287 301 467 467 Goodwill
309 346 409 1.55 9.84 30.54 99.57 136 152 148 126 253 261 337 307 451 451 Other Long Term Assets
1,117 1,362 1,897 3,291 2,934 3,828 3,989 4,471 4,819 4,880 4,693 4,499 4,525 4,948 5,383 6,167 6,167 Total Assets
53.67 76.52 88.38 341 160 203 132 164 131 147 149 179 172 170 205 241 241 Accounts Payable
-- -- -- 76.90 20.08 22.85 56.03 77.78 32.03 38.04 182 21.67 16.16 33.64 51.64 56.91 56.91 Total Tax Payable
82.63 132 227 802 478 656 575 664 656 647 812 701 636 689 825 941 941 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
-- -- -- -- 0.68 27.91 89.71 189 252 257 204 165 147 103 96.37 94.56 94.56 Current Deferred Revenue
-- -- -- -- -- 2.21 4.80 5.78 0.33 0.99 17.67 -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- 0.68 30.12 94.51 195 253 258 221 165 147 103 96.37 94.56 94.56 DeferredTaxAndRevenue
93.63 63.15 111 -- -- -0.00 0.00 -- -- -0.00 -- 0.00 -- -- -- -- -- Other Current Liabilities
176 195 338 802 479 686 669 858 909 905 1,033 866 783 792 921 1,036 1,036 Total Current Liabilities
-- -- 0.25 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 49.24 49.24 Capital Lease Obligation
-- -- 0.25 -- -- -- -- -- -- -- -- -- -- -- -- 49.24 49.24 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.01 0.01 Debt to Equity
5.27 9.49 1.19 11.94 228 48.74 115 193 196 173 175 185 202 164 170 182 182 NonCurrent Deferred Liabilities
-0.00 -0.00 -0.00 127 1.12 257 155 163 183 142 82.05 103 123 140 129 106 106 Other Long-Term Liabilities
182 205 339 941 709 992 939 1,215 1,287 1,220 1,290 1,154 1,107 1,096 1,220 1,373 1,373 Total Liabilities
1.08 1.08 1.08 1.09 1.00 1.00 1,797 1,797 1,797 1,797 1,797 1,797 17.98 17.98 17.98 17.98 17.98 Common Stock
815 1,072 1,479 2,171 2,263 2,817 1,265 1,414 1,605 1,866 1,860 1,931 2,057 2,418 2,711 3,229 3,229 Retained Earnings
10.62 -12.51 -5.28 46.13 -37.65 -13.38 56.00 87.19 139 38.04 2.57 -30.43 -36.76 56.43 8.43 55.87 55.87 Accumulated other comprehensive
income (loss)
109 96.24 83.44 132 -- 32.22 38.27 61.87 72.46 79.26 73.52 62.24 1,836 1,828 1,824 1,836 1,836 Additional Paid-In Capital
-- -- -- -- -- -- -107 -103 -81.28 -121 -330 -415 -456 -469 -398 -345 -345 Treasury Stock
936 1,157 1,558 2,351 2,226 2,836 3,050 3,257 3,532 3,660 3,403 3,345 3,418 3,852 4,163 4,793 4,793 Total Equity
0.84 0.85 0.82 0.71 0.76 0.74 0.77 0.73 0.73 0.75 0.73 0.74 0.76 0.78 0.77 0.78 0.78 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GRMN 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
206 311 514 855 733 704 585 521 542 612 364 456 518 709 694 952 952 Net Income
-- -- -- -- -- -- 62.77 18.58 40.04 -40.12 0.57 37.93 13.13 21.68 13.79 18.66 18.66 Net Foreign Currency Exchange
Gain
206 311 514 855 733 704 585 521 542 612 364 456 518 709 694 952 952 Net Income From Continuing
Operations
34.60 43.60 44.48 64.04 78.42 96.49 94.65 94.54 90.47 78.80 77.02 78.36 86.34 86.25 96.19 106 106 Depreciation, Depletion and
Amortization
-27.09 -61.61 -230 -477 206 -132 130 170 10.81 38.59 -27.40 22.47 9.00 -39.07 7.29 -123 -123 Change In Receivables
-61.53 -61.26 -92.71 -224 83.04 61.19 -77.12 -6.39 4.00 -17.59 -76.49 -122 -2.46 -7.50 -57.74 -170 -170 Change In Inventory
-3.19 -- -4.36 6.21 -4.36 8.05 9.89 -51.42 -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
10.64 24.13 10.19 484 -326 54.65 -29.12 -5.65 -69.74 -16.23 105 -115 -8.48 -30.68 75.75 -8.11 -8.11 Change In Payables And Accrued
Expense
-17.89 -119 -194 -234 -60.80 211 -14.60 179 4.04 -67.38 -58.37 -345 14.23 -112 19.74 -353 -353 Change In Working Capital
-7.95 8.83 -35.06 -57.84 50.89 -25.10 -0.47 -42.48 -32.08 7.93 89.83 5.90 3.75 -90.00 38.98 -88.36 -88.36 Change In DeferredTax
-- -- -- 22.16 38.87 43.62 40.33 40.21 29.27 22.59 24.29 26.29 41.25 44.74 56.39 63.40 63.40 Stock Based Compensation
-5.52 2.21 31.98 33.13 21.95 64.71 66.13 29.82 50.65 -24.28 25.73 58.41 42.39 22.44 14.14 17.63 17.63 Cash Flow from Others
209 247 362 682 862 1,094 771 822 685 630 523 280 706 661 920 699 699 Cash Flow from Operations
-78.15 -27.13 -96.02 -157 -120 -49.19 -32.23 -38.37 -38.45 -56.08 -73.34 -80.59 -90.96 -140 -156 -118 -118 Purchase Of Property, Plant,
Equipment
0.03 -- 0.08 0.01 0.02 0.01 0.14 4.13 0.76 0.89 0.75 7.92 0.68 0.36 1.60 0.53 0.53 Sale Of Property, Plant, Equipment
-- -- -- -129 -60.13 -- -12.12 -54.19 -7.70 -5.68 -18.87 -38.69 -77.95 -90.47 -29.17 -300 -300 Purchase Of Business
-105 -59.11 -453 -1,672 -374 -777 -694 -1,173 -1,430 -909 -1,006 -916 -905 -588 -403 -789 -789 Purchase Of Investment
-- -- 359 1,785 504 286 668 779 986 833 1,097 919 957 635 284 759 759 Sale Of Investment
-- -- -- -2.92 -6.97 -7.57 -3.88 -6.93 -6.78 -1.12 -4.72 -3.89 -5.72 -12.23 -4.60 -2.38 -2.38 Net Intangibles Purchase And Sale
-- 0.10 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-1.64 -5.04 -36.67 -0.03 -0.00 -0.11 0.77 0.51 -0.06 -137 137 0.05 -0.00 -0.00 -0.00 -0.00 0.00 Cash From Other Investing Activities
-184 -91.18 -226 -176 -56.35 -548 -72.87 -488 -496 -274 131 -112 -122 -194 -308 -451 -451 Cash Flow from Investing
6.13 9.69 16.07 5.73 9.03 3.71 -- 22.34 -- -- -- -- -- -- -- -- -- Issuance of Stock
-3.18 -26.65 -50.45 -7.78 -672 -20.26 -226 -- -- -58.42 -242 -131 -93.23 -74.52 -- -- -- Repurchase of Stock
-- -- -0.01 -0.25 -- -- -- -- -- -- -- -- -- -- -- -- -- Net Issuance of Debt
-54.10 -53.97 -108 -163 -150 -150 -299 -311 -253 -352 -360 -378 -481 -383 -296 -417 -417 Cash Flow for Dividends
-- -- 9.66 28.71 5.02 5.15 13.96 3.35 3.54 3.29 2.03 9.44 13.01 9.09 9.99 1.24 1.25 Other Financing
-51.15 -70.94 -133 -136 -808 -161 -511 -307 -250 -407 -600 -500 -562 -448 -286 -416 -416 Cash Flow from Financing
-24.42 84.44 2.97 370 -11.35 395 169 26.22 -55.98 -52.03 17.12 -363 13.67 44.76 310 -174 -174 Net Change in Cash
-78.15 -27.13 -96.02 -160 -127 -56.77 -36.12 -45.30 -45.23 -57.21 -78.06 -84.48 -96.68 -152 -160 -120 -120 Capital Expenditure
131 220 266 522 736 1,038 735 777 640 573 445 196 609 509 759 578 578 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GRMN 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
34.97 30.56 25.89 24.94 5.51 8.77 10.43 14.91 14.71 14.80 28.25 15.49 18.03 15.97 17.35 19.55 18.73 PE Ratio(TTM)
35.09 32.85 41.63 37.86 5.28 6.78 10.28 11.40 14.57 15.55 24.18 51.55 16.44 21.89 15.83 35.81 34.31 Price to Owner Earnings
(TTM)
7.04 6.20 7.72 8.95 1.73 2.17 1.98 2.38 2.26 2.46 2.98 2.11 2.68 2.91 2.88 3.89 3.73 Price to Book
7.04 6.40 8.07 9.77 1.93 2.34 2.10 2.57 2.42 2.62 3.18 2.28 2.94 3.26 3.20 4.51 4.32 Price to Tangible Book
58.39 44.06 49.65 40.79 5.39 5.95 8.35 9.98 12.50 15.83 23.00 36.05 15.07 22.10 15.83 32.23 30.88 Price-to-Free-Cash-Flow
Ratio
36.21 39.50 36.50 31.24 4.62 5.64 7.96 9.44 11.67 14.39 19.57 25.23 13.01 17.02 13.06 26.67 25.55 Price-to-Operating-Cash-
Flow Ratio
9.69 8.95 7.55 6.71 1.15 2.10 2.28 2.81 2.94 3.45 3.57 2.52 3.01 3.60 3.59 4.96 4.75 PS Ratio
-- 2.50 0.96 0.67 0.12 0.23 0.45 -- -- -- -- 6.00 34.02 6.03 4.03 2.39 2.28 PEG Ratio
8.23 6.62 6.55 6.38 0.90 1.71 1.76 2.30 2.43 2.92 3.05 2.13 2.64 3.25 3.17 4.60 4.38 EV-to-Revenue
20.56 17.82 19.39 19.47 3.15 5.57 7.04 9.80 9.48 11.77 11.42 9.56 11.16 13.19 12.13 16.45 15.66 EV-to-EBITDA
23.19 20.12 20.95 20.75 3.42 6.23 8.19 11.47 10.90 13.39 12.70 10.92 12.69 14.86 13.63 18.30 17.42 EV-to-EBIT
4.31 4.97 4.77 4.82 29.24 16.05 12.21 8.72 9.17 7.47 7.87 9.16 7.88 6.73 7.34 5.46 5.74 Return on Capital %
-- 14.23 21.26 21.07 28.42 28.07 29.97 7.98 1.13 1.65 3.61 9.96 5.96 6.80 8.49 11.05 11.18 Forward Rate of Return
-- -- -- -- -- 16.96 14.76 16.91 15.69 16.13 17.95 12.07 15.39 18.88 19.93 29.36 28.13 Shiller PE Ratio
0.82 0.75 0.90 0.77 3.91 2.44 4.84 4.02 4.29 3.90 3.58 5.41 4.21 3.42 3.32 2.30 2.39 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6,591 7,171 12,028 21,047 3,842 6,148 6,023 7,750 7,970 9,014 10,134 7,052 9,144 11,210 11,997 18,624 17,824 Market Cap
6,276 6,805 11,618 20,302 3,132 5,037 4,738 6,351 6,586 7,685 8,769 6,004 8,030 10,157 10,612 17,269 16,469 Enterprise Value
30.42 33.18 55.66 97.00 19.17 30.70 30.99 39.81 40.75 46.19 52.83 37.17 48.49 59.57 63.32 97.56 93.47 Month End Stock Price
0.61 0.75 0.33 -0.90 -- 0.60 1.78 0.94 0.50 0.56 0.39 -0.56 0.04 -0.23 0.87 0.16 0.16 Net Cash (per share)
2.10 2.76 3.84 6.42 6.37 7.01 8.02 6.99 6.38 7.05 6.37 5.57 6.13 6.64 7.63 8.82 8.81 Net Current Asset Value
(per share)
1.35 1.80 2.36 3.56 3.84 4.64 5.66 4.30 3.81 3.71 3.71 2.86 3.42 3.50 4.61 4.91 4.90 Net-Net Working Capital (per
share)
-- 12.95 17.29 24.52 33.87 47.05 57.07 60.32 50.33 51.23 48.85 42.21 42.36 43.04 47.70 51.82 51.82 Projected FCF (per share)
-- -- -- -- -- -- 95.72 97.08 63.59 41.41 45.78 41.94 44.44 45.70 51.04 62.21 62.21 Median PS (per share)
-- 17.50 53.75 97.25 87.00 87.50 68.40 -- -- -- -- -- -- -- -- 40.87 40.87 Peter Lynch Fair Value (per
share)
9.58 12.90 19.10 29.48 27.92 32.11 31.28 30.48 32.37 35.18 26.50 29.64 31.84 39.34 40.35 49.31 49.27 Graham Number (per share)
8.48 10.33 14.29 22.35 30.93 37.79 44.50 45.61 43.23 41.75 39.30 36.23 36.78 39.83 42.18 48.40 48.40 Earnings Power Value
(EPV)
24.74 24.13 24.87 16.85 7.17 6.75 6.00 5.78 5.58 6.37 6.77 5.67 7.12 8.29 8.12 10.41 10.05 Altman Z-Score
6.00 7.00 4.00 5.00 6.00 6.00 7.00 5.00 5.00 7.00 7.00 7.00 9.00 8.00 5.00 6.00 6.00 Piotroski F-Score
-2.07 -1.90 -1.19 -1.48 -2.80 -2.63 -2.74 -2.91 -2.59 -2.58 -2.71 -2.27 -2.64 -2.26 -2.76 -2.08 -2.08 Beneish M-Score
0.73 0.71 0.84 0.85 0.46 0.59 0.46 0.47 0.48 0.48 0.42 0.49 0.51 0.62 0.56 0.64 0.60 Scaled Net Operating
Assets
16.21 11.41 19.96 10.59 -2.49 4.11 -2.84 4.18 7.34 5.26 -6.18 6.40 -1.46 4.90 1.52 11.43 11.43 Sloan Ratio (%)
3.61 4.10 3.46 2.91 4.14 3.49 3.73 3.00 2.79 2.87 2.43 2.55 2.89 2.96 2.89 2.95 2.95 Current Ratio
2.73 3.08 2.66 2.28 3.25 3.04 3.16 2.54 2.36 2.44 2.02 1.98 2.27 2.31 2.28 2.22 2.22 Quick Ratio
31.00 35.21 56.25 124 97.00 39.58 39.94 40.39 49.33 49.33 61.69 56.81 55.75 62.92 70.05 98.68 106 Highest Stock Price
14.22 19.75 29.90 49.19 15.22 15.17 26.55 30.14 35.84 32.60 43.63 32.28 32.29 47.35 57.66 61.39 74.29 Lowest Stock Price
-0.15 0.24 0.02 -0.41 7.64 0.06 2.95 -0.16 -0.48 0.23 1.71 1.09 0.61 0.20 -0.68 -0.76 -0.93 Shares Buyback Ratio (%)
33.19 34.34 72.31 78.37 14.66 -11.69 -7.25 4.19 -2.22 -3.15 10.30 -0.18 9.00 2.82 6.67 11.56 11.58 YoY Rev. per Sh. Growth
(%)
15.24 50.79 64.91 65.53 -10.54 0.57 -15.71 -9.49 3.37 13.04 -39.74 27.13 14.23 37.73 -2.66 36.34 36.71 YoY EPS Growth (%)
23.63 24.68 56.64 73.16 -0.55 -4.56 -24.44 -2.18 6.43 -6.07 18.92 -16.89 15.58 7.40 12.99 19.55 19.53 YoY EBITDA Growth (%)
-- 12.24 26.83 37.47 46.12 38.36 23.03 -1.15 -8.27 -6.90 -2.64 2.58 0.53 2.65 4.30 8.19 8.20 EBITDA 5-Y Growth (%)
217 216 216 217 209 200 197 194 195 195 193 191 189 188 189 190 190 Shares Outstanding (Basic
Average)
217 216 216 217 200 200 194 195 196 195 192 190 189 188 189 191 190 Shares Outstanding (EOP)
1.13 2.26 2.44 1.18 1.56 1.49 1.49 1.12 1.04 0.61 1.11 0.69 0.93 0.74 0.98 1.02 1.02 Beta
03/09/05 03/07/06 02/28/07 02/26/08 02/25/09 02/24/10 02/23/11 02/29/12 02/27/13 02/19/14 02/18/15 02/17/16 02/22/17 02/21/18 02/20/19 02/19/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GRMN 6/7
03/07/06 03/07/06 02/26/08 02/25/09 02/24/10 02/23/11 02/27/13 02/19/14 02/18/15 02/17/16 02/22/17 02/21/18 02/20/19 02/19/20 02/19/20 02/19/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GRMN 7/7
Mettler-Toledo International Inc (NYSE:MTD) 03/02/2020 4:10PM EST GuruFocus
Price: $ 724.14 +22.44(+3.20%) Market Cap: $ 17.42 B Enterprise Value: $18.5 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 10/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 32.16
Cash to Debt 0.16 Operating margin (%) 24.21
Forward P/E N/A
Equity to Asset 0.15 Net-margin (%) 18.65
PE(NRI) 32.16
Interest Coverage 19.47 ROE (%) 111.55
F-Score:
P/B 41.91
ROA (%) 21.03
7 P/S 6.01
Z-Score: ROC (Joel Greenblatt) (%) 78.32
8.75 PFCF 35.61
Revenue Growth (3Y)(%) 9.10
M-Score: POCF 29.88
-2.51 EBITDA Growth (3Y)(%) 13.30
EV-to-EBIT 25.74
WACC vs 9.49% EPS Growth (3Y)(%) 16.50
ROIC 40.21% PEG 2.44
WACC
ROIC Shiller P/E 52.56
Current Ratio 1.47
Quick Ratio 1.11
Days Inventory 80.20
Days Sales Outstanding 68.70
Warning Signs Quarterly Revenues Company Description
Long-Term Debt: Issuing new Mar Jun Sep Dec Full Year Mettler-Toledo supplies weighing and precision instruments to customers in the life sciences (50% of sales), industrial
(42%), and food retail industries. Its products include laboratory and retail scales, pipettes, pH meters, thermal
debt 2016 540 608 651 710 2,508 analysis equipment, titrators, metal detectors, and X-ray analyzers. Mettler leads the market for weighing
2017 595 654 699 778 2,725 instrumentation and controls more than 50% of the market for lab balances.... (Read More)
Insider Sell: Insider Selling , , , , , , , ,
2018 661 722 735 818 2,936 Competitors: NYSE:LH NYSE:DGX NAS:EXAS NYSE:WAT TSE:6869 NAS:IDXX XPAR:BIM NYSE:PKI
NYSE:A, SHSE:603259, NAS:DXCM, XPAR:ERF, NAS:ICLR, NYSE:QGEN, SZSE:300347, NYSE:CRL, NAS:GH,
2019 679 731 754 844 3,009 NAS:SYNH, BSP:DASA3, SHSE:603658
Good Signs 2020
Insider Trades
Piotroski F-Score: High Quarterly Earnings per Share
Revenue per Share: Mar Jun Sep Dec Full Year
Consistent growth 2016 2.40 2.93 3.77 5.17 14.27
2017 3.48 3.84 3.99 2.93 14.24
Operating Margin %: 2018 3.58 4.31 4.93 7.11 19.93
Expansion 2019 4.42 5.06 5.20 7.84 22.52
PE Ratio: Close to 1-year low 2020
PS Ratio: Close to 1-year low Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.00 0.00 0.00 0.00 0.00
2017 0.00 0.00 0.00 0.00 0.00
EPS without NRI: $22.52 2018 0.00 0.00 0.00 0.00 0.00
Growth Rate in the next 10 2019 0.00 0.00 0.00 0.00 0.00
years: 14.10% 2020
Terminal Growth Rate for 10
years: 4% Growth Rate
Fair Value: $434.29 Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 8.30 8.30 5.80
Reverse DCF EBITDA Growth (%) 13.50 13.20 8.10
Expected eps Growth Rate: Free Cash Flow Growth (%) 15.20 11.90 23.70
21.84% Book Value Growth (%) -2.50 -2.50 -27.00
EPS Growth (%) 14.10 14.60 13.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MTD 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
30.88 34.25 39.10 47.26 56.30 50.42 57.65 70.32 73.58 77.42 84.07 84.74 92.82 103 114 120 121 Revenue per Share
4.53 5.38 6.18 7.94 9.44 8.50 10.90 12.85 14.46 15.78 18.00 19.63 22.24 25.88 29.91 32.33 32.40 EBITDA per Share
3.68 4.51 5.26 6.93 8.32 7.29 9.60 11.34 12.74 13.85 15.88 17.36 19.69 23.00 26.62 28.78 28.85 EBIT per Share
2.37 2.52 3.86 4.70 5.79 5.03 6.80 8.21 9.14 9.96 11.44 12.48 14.22 14.24 19.88 22.47 22.52 Earnings per Share (diluted)
2.37 2.52 3.86 4.70 5.79 5.03 6.80 8.21 9.14 9.96 11.44 12.48 14.22 14.24 19.88 22.47 22.52 eps without NRI
3.27 2.88 4.46 5.71 5.63 5.54 6.71 7.30 8.58 9.23 12.06 13.15 13.90 16.54 19.16 20.54 20.54 Owner Earnings per Share (TTM)
3.04 3.34 3.86 4.76 4.63 5.03 5.69 5.55 7.29 8.58 11.14 12.64 12.46 14.73 16.38 20.27 20.33 Free Cashflow per Share
16.62 15.92 16.42 16.31 14.98 21.01 23.80 24.73 27.20 31.71 25.48 21.43 16.72 21.43 23.68 17.28 17.28 Book Value per Share
3.71 3.16 2.48 1.14 -0.52 4.87 7.17 6.71 8.46 12.37 5.76 0.70 -8.01 -8.59 -6.50 -13.20 -13.20 Tangible Book per Share
4.69 10.87 9.26 11.13 13.52 8.67 21.01 15.99 12.78 14.01 16.00 21.77 34.36 38.36 41.52 53.02 53.02 Total Debt per Share
51.31 55.20 78.85 114 67.40 105 151 148 193 243 302 339 419 620 566 793 724 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
15.70 15.78 24.43 29.45 37.39 28.42 31.31 34.71 36.17 34.74 40.88 54.28 75.71 76.56 90.14 111 112 Return on Equity %
7.53 6.91 9.67 10.93 12.13 10.20 11.60 12.01 13.77 14.66 16.25 17.78 18.63 15.94 19.84 20.75 21.03 Return on Assets %
43.48 53.21 59.50 66.70 66.18 53.27 65.30 65.21 61.27 57.45 63.35 70.99 75.86 76.37 78.14 77.61 78.32 Return on Capital %
13.71 16.18 25.86 22.32 25.78 24.13 26.40 28.59 29.72 29.00 31.27 35.37 36.53 31.34 38.02 40.65 40.21 Return on Invested Capital %
13.50 14.36 15.29 10.58 7.41 9.20 9.13 7.93 8.57 10.55 9.81 7.81 8.66 8.98 10.94 10.33 9.49 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.97 6.72 4.12 3.92 5.09 5.67 5.67 5.27 3.78 3.50 3.43 3.22 3.28 Effective Interest Rate on Debt %
48.59 49.26 49.56 49.96 50.32 51.44 52.70 52.75 53.00 53.89 54.66 56.44 57.32 57.82 57.38 57.87 57.87 Gross Margin %
11.90 13.17 13.44 14.66 15.22 16.35 17.10 16.49 18.07 18.85 19.22 20.92 21.41 22.38 23.27 24.21 24.21 Operating Margin %
7.69 7.35 9.88 9.95 10.28 9.98 11.80 11.67 12.42 12.87 13.61 14.73 15.32 13.80 17.46 18.65 18.65 Net Margin %
9.83 9.75 9.86 10.07 8.22 9.98 9.87 7.90 9.91 11.08 13.26 14.92 13.43 14.27 14.38 16.82 16.82 FCF Margin %
0.28 0.68 0.56 0.68 0.90 0.41 0.88 0.65 0.47 0.44 0.63 1.02 2.06 1.79 1.75 3.07 3.07 Debt to Equity
0.49 0.40 0.40 0.35 0.30 0.41 0.34 0.36 0.41 0.43 0.36 0.30 0.20 0.22 0.23 0.15 0.15 Total Equity to Total Asset
0.14 0.27 0.22 0.24 0.27 0.17 0.30 0.23 0.19 0.19 0.23 0.30 0.41 0.38 0.40 0.46 0.46 Total Debt to Total Asset
47.60 46.37 48.54 54.89 59.43 52.58 51.84 54.31 58.74 61.41 65.29 68.14 69.69 66.82 65.18 64.39 65.25 Gross Profit to Total Asset %
0.98 0.94 0.98 1.10 1.18 1.02 0.98 1.03 1.11 1.14 1.20 1.21 1.22 1.16 1.14 1.11 1.13 Asset Turnover
70.45 66.95 70.23 72.15 64.48 66.08 68.42 67.20 68.18 71.61 63.96 62.69 66.21 70.80 66.59 68.70 68.70 Days Sales Outstanding
43.03 42.97 43.54 51.69 41.50 44.85 54.15 56.24 47.22 48.57 47.24 49.70 49.98 53.24 57.36 53.45 53.45 Days Accounts Payable
77.92 74.43 67.73 65.49 64.11 73.62 75.50 76.70 73.03 68.10 67.18 73.27 74.40 75.81 76.46 78.20 80.20 Days Inventory
105 98.41 94.42 85.95 87.09 94.85 89.77 87.66 93.99 91.14 83.90 86.26 90.63 93.37 85.69 93.45 95.45 Cash Conversion Cycle
4.68 4.90 5.39 5.57 5.69 4.96 4.83 4.76 5.00 5.36 5.43 4.98 4.91 4.81 4.77 4.67 4.55 Inventory Turnover
0.51 0.51 0.50 0.50 0.50 0.49 0.47 0.47 0.47 0.46 0.45 0.44 0.43 0.42 0.43 0.42 0.42 COGS to Revenue
0.11 0.10 0.09 0.09 0.09 0.10 0.10 0.10 0.09 0.09 0.08 0.09 0.09 0.09 0.09 0.09 0.09 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MTD 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,404 1,482 1,595 1,794 1,973 1,729 1,968 2,309 2,342 2,379 2,486 2,395 2,508 2,725 2,936 3,009 3,009 Revenue
722 752 804 898 980 840 931 1,091 1,100 1,097 1,127 1,043 1,071 1,149 1,251 1,267 1,267 Cost of Goods Sold
682 730 790 896 993 889 1,037 1,218 1,241 1,282 1,359 1,352 1,438 1,576 1,684 1,741 1,741 Gross Profit
48.59 49.26 49.56 49.96 50.32 51.44 52.70 52.75 53.00 53.89 54.66 56.44 57.32 57.82 57.38 57.87 57.87 Gross Margin %
420 442 482 529 580 505 589 704 684 693 729 701 745 795 813 819 819 Selling, General, & Admin. Expense
83.22 81.89 82.80 92.38 102 89.69 97.03 116 113 116 123 119 119 128 141 144 144 Research & Development
12.26 11.44 11.50 11.68 10.55 11.84 14.84 17.81 21.36 24.54 29.19 30.95 36.05 42.67 47.52 49.69 49.69 Other Operating Expense
167 195 214 263 300 283 337 381 423 448 478 501 537 610 683 728 728 Operating Income
11.90 13.17 13.44 14.66 15.22 16.35 17.10 16.49 18.07 18.85 19.22 20.92 21.41 22.38 23.27 24.21 24.21 Operating Margin %
-- -- -- -- -25.39 -25.12 -20.06 -23.23 -22.76 -22.71 -24.54 -27.45 -28.03 -32.79 -34.51 -37.41 -37.41 Interest Expense
-- -- -- -- -25.39 -25.12 -20.06 -23.23 -22.76 -22.71 -24.54 -27.45 -28.03 -32.79 -34.51 -37.41 -37.41 Net Interest Income
-12.93 -35.10 1,834 -20.13 -8.98 -32.75 -9.03 -8.29 -17.78 -22.93 -8.14 -10.28 -4.91 -2.90 3.39 -9.58 -9.58 Other Income (Expense)
154 160 2,048 243 266 225 308 349 383 403 445 463 504 574 652 681 681 Pre-Tax Income
-46.27 -51.28 -47.32 -64.36 -63.29 -52.17 -75.37 -79.68 -91.75 -96.62 -107 -111 -120 -198 -139 -120 -120 Tax Provision
30.00 32.01 2.31 26.50 23.79 23.21 24.51 22.82 23.98 23.99 23.99 23.87 23.77 34.52 21.36 17.65 17.65 Tax Rate %
108 109 158 179 203 173 232 269 291 306 338 353 384 376 513 561 561 Net Income (Continuing Operations)
108 109 158 179 203 173 232 269 291 306 338 353 384 376 513 561 561 Net Income
7.69 7.35 9.88 9.95 10.28 9.98 11.80 11.67 12.42 12.87 13.61 14.73 15.32 13.80 17.46 18.65 18.65 Net Margin %
2.44 2.58 3.93 4.82 5.92 5.12 6.98 8.45 9.37 10.22 11.71 12.75 14.49 14.62 20.33 22.84 22.88 EPS (Basic)
2.37 2.52 3.86 4.70 5.79 5.03 6.80 8.21 9.14 9.96 11.44 12.48 14.22 14.24 19.88 22.47 22.52 EPS (Diluted)
45.48 43.29 40.79 37.95 35.05 34.29 34.14 32.84 31.82 30.73 29.57 28.27 27.02 26.39 25.78 24.97 24.59 Shares Outstanding (Diluted
Average)
38.92 37.41 37.57 38.35 39.54 41.48 44.53 49.50 54.78 59.30 62.80 64.04 68.80 76.13 84.69 88.68 88.68 Depreciation, Depletion and
Amortization
206 233 252 301 331 291 372 422 460 485 532 555 601 683 771 807 807 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MTD 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
67.18 325 151 81.22 78.07 85.03 448 236 102 112 85.26 98.89 159 149 178 208 208 Cash And Cash Equivalents
67.18 325 151 81.22 78.07 85.03 448 236 102 112 85.26 98.89 159 149 178 208 208 Cash, Cash Equivalents, Marketable
Securities
271 272 307 355 349 313 369 425 437 467 436 411 455 529 536 566 566 Accounts Receivable
73.61 80.20 81.60 90.78 77.28 80.15 102 102 94.45 98.24 97.97 98.25 100 119 123 129 129 Inventories, Raw Materials &
Components
32.32 19.78 18.16 21.07 32.40 29.70 36.62 40.82 36.90 38.06 34.97 35.10 41.45 43.04 47.10 43.20 43.20 Inventories, Work In Process
50.61 50.22 48.61 61.88 60.93 58.20 78.83 98.88 67.59 74.11 71.59 81.03 80.19 93.57 98.78 102 102 Inventories, Finished Goods
-0.00 -- -- -- -- -- 0.00 -- -- -- -- -- -- -- -- -- -- Inventories, Other
157 150 148 174 171 168 217 241 199 210 205 214 222 255 269 274 274 Total Inventories
57.55 53.97 63.25 73.67 73.57 80.04 111 117 126 125 124 70.64 61.08 74.03 63.40 61.32 61.32 Other Current Assets
552 801 670 683 671 646 1,145 1,019 864 914 849 795 897 1,007 1,046 1,110 1,110 Total Current Assets
57.48 49.84 52.92 57.19 49.52 50.67 53.64 53.39 54.80 56.21 51.12 47.36 55.89 58.05 58.07 58.05 58.05 Land And Improvements
157 143 147 167 174 178 187 196 207 212 210 211 248 301 318 327 327 Buildings And Improvements
237 212 238 261 321 377 442 502 588 665 674 695 719 818 857 928 928 Machinery, Furniture, Equipment
456 409 443 489 545 605 683 751 849 933 935 954 1,023 1,177 1,233 1,313 1,313 Gross Property, Plant and Equipment
-214 -190 -213 -239 -260 -289 -318 -341 -380 -419 -423 -437 -459 -509 -516 -564 -564 Accumulated Depreciation
243 219 229 250 285 316 364 410 469 514 511 517 564 668 718 749 749 Property, Plant and Equipment
560 528 536 541 521 546 539 569 570 570 557 562 643 767 752 742 742 Intangible Assets
-- -- 433 441 424 441 435 448 452 456 444 446 476 540 535 536 536 Goodwill
125 122 153 205 187 210 235 205 119 154 91.35 85.24 62.85 108 103 189 189 Other Long Term Assets
1,480 1,670 1,587 1,678 1,664 1,719 2,283 2,203 2,022 2,153 2,009 1,959 2,167 2,550 2,619 2,789 2,789 Total Assets
85.13 88.55 95.97 127 111 103 138 168 142 146 146 142 147 168 197 186 186 Accounts Payable
-- -- -- -- 44.51 38.69 49.58 55.14 64.00 61.50 59.30 48.76 47.99 72.21 73.78 69.04 69.04 Total Tax Payable
250 248 278 331 352 330 427 324 316 324 326 318 328 393 427 421 421 Accounts Payable & Accrued
Expense
6.91 6.35 9.96 11.57 12.49 89.97 10.90 28.30 41.60 17.07 116 14.49 18.97 19.68 49.67 55.87 55.87 Current Portion of Long-Term Debt
26.18 34.80 41.55 52.70 51.67 63.29 86.75 99.58 71.44 83.08 82.22 88.83 100 107 105 122 122 Current Deferred Revenue
5.33 5.05 5.43 10.15 8.22 11.30 17.71 18.45 15.35 16.22 18.68 -- -- -- -- -- -- Current Deferred Taxes Liabilities
31.50 39.86 46.99 62.86 59.88 74.60 104 118 86.78 99.30 101 88.83 100 107 105 122 122 DeferredTaxAndRevenue
59.56 59.02 49.61 42.44 -- -0.00 -- 140 117 123 136 136 140 170 153 155 155 Other Current Liabilities
348 353 384 448 425 495 542 610 562 564 679 558 588 690 734 755 755 Total Current Liabilities
196 444 346 385 442 204 670 477 347 396 336 575 875 960 985 1,235 1,235 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Capital Lease Obligation
196 444 346 385 442 204 670 477 347 396 336 575 875 960 985 1,235 1,235 Long-Term Debt & Capital Lease
Obligation
0.28 0.68 0.56 0.68 0.90 0.41 0.88 0.65 0.47 0.44 0.63 1.02 2.06 1.79 1.75 3.07 3.07 Debt to Equity
81.93 78.36 82.61 102 111 120 125 126 45.06 64.45 56.73 50.98 64.31 51.23 48.82 45.27 45.27 NonCurrent Deferred Liabilities
133 135 144 163 183 190 174 210 241 193 218 195 205 301 261 333 333 Other Long-Term Liabilities
759 1,011 956 1,097 1,161 1,008 1,511 1,422 1,195 1,218 1,290 1,379 1,732 2,003 2,029 2,369 2,369 Total Liabilities
0.45 0.45 0.45 0.45 0.45 0.45 0.45 0.45 0.45 0.45 0.45 0.45 0.45 0.45 0.45 0.45 0.45 Common Stock
293 417 494 652 848 1,010 1,223 1,477 1,749 2,037 2,357 2,692 3,066 3,433 3,942 4,499 4,499 Retained Earnings
2.97 -45.33 -17.32 42.62 -31.86 -16.21 8.20 -86.94 -97.46 -35.04 -213 -267 -355 -265 -302 -324 -324 Accumulated other comprehensive
income (loss)
492 457 529 548 560 574 597 616 639 653 670 698 731 747 765 784 784 Additional Paid-In Capital
-67.40 -170 -375 -662 -874 -857 -1,057 -1,225 -1,464 -1,721 -2,096 -2,543 -3,007 -3,368 -3,815 -4,539 -4,539 Treasury Stock
721 659 631 581 503 711 772 781 827 935 720 580 435 547 590 421 421 Total Equity
0.49 0.40 0.40 0.35 0.30 0.41 0.34 0.36 0.41 0.43 0.36 0.30 0.20 0.22 0.23 0.15 0.15 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MTD 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
108 109 158 179 203 173 232 269 291 306 338 353 384 376 513 561 561 Net Income
108 109 158 179 203 173 232 269 291 306 338 353 384 376 513 561 561 Net Income From Continuing
Operations
38.92 37.41 37.57 38.35 39.54 41.48 44.53 49.50 54.78 59.30 62.80 64.04 68.80 76.13 84.69 88.68 88.68 Depreciation, Depletion and
Amortization
-11.34 -18.38 -20.07 -28.16 0.05 37.07 -55.03 -53.96 -8.76 -29.00 7.49 1.63 -52.15 -38.99 -19.54 -31.41 -31.41 Change In Receivables
4.45 -5.17 11.38 -13.52 -0.40 7.82 -40.42 -20.28 46.83 -8.48 -9.30 -18.79 -12.43 -13.68 -21.20 -4.60 -4.60 Change In Inventory
12.93 9.41 1.96 26.40 -22.98 -33.72 96.23 34.71 -70.27 -3.70 -10.34 23.70 46.33 40.47 5.57 -23.78 -23.78 Change In Payables And Accrued
Expense
18.54 -0.28 -6.81 -8.74 -27.04 5.37 -19.32 -39.84 -28.62 -39.58 -7.76 1.42 -17.96 -18.44 -34.54 -60.13 -60.13 Change In Working Capital
-- -- 7.37 22.23 4.14 3.77 4.06 2.59 5.42 8.82 15.36 7.14 1.88 69.24 5.90 -4.63 -4.63 Change In DeferredTax
-- -- -- -- 8.70 11.37 12.39 12.27 13.19 12.64 13.61 14.22 15.31 16.58 17.58 18.29 18.28 Stock Based Compensation
0.57 31.02 -4.10 -2.13 -4.97 -1.97 -5.52 -13.14 -7.91 -1.35 -3.35 0.16 8.37 -3.15 -21.23 0.13 0.14 Cash Flow from Others
166 177 192 228 223 233 268 281 328 346 419 440 461 516 565 603 603 Cash Flow from Operations
-27.88 -32.50 -34.33 -47.55 -61.01 -60.04 -73.94 -98.50 -95.59 -82.35 -89.39 -82.51 -124 -127 -143 -97.34 -97.34 Purchase Of Property, Plant,
Equipment
1.82 1.42 4.18 6.26 13.31 2.08 0.35 2.49 0.43 0.21 0.73 0.95 0.42 11.97 8.19 1.42 1.42 Sale Of Property, Plant, Equipment
-- -- -- -- -1.00 -14.62 -13.06 -35.37 -2.10 -2.66 -5.78 -13.78 -111 -108 -5.53 -2.00 -2.57 Purchase Of Business
-- -- -- -- -- -- 9.75 -- -- -- -- -- -- -- -- -- -- Sale Of Business
-2.29 -4.09 -0.79 -0.11 -0.00 -0.00 -0.11 -0.90 -0.00 -1.22 0.12 -5.42 3.46 6.55 1.12 -1.16 -1.16 Cash From Other Investing Activities
-28.35 -35.16 -30.94 -41.39 -48.70 -72.58 -77.02 -132 -97.26 -86.02 -94.32 -101 -231 -217 -139 -99.08 -99.08 Cash Flow from Investing
25.57 27.01 30.45 21.22 5.23 -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-102 -162 -265 -325 -230 -5.99 -240 -205 -279 -295 -414 -495 -500 -400 -475 -775 -775 Repurchase of Stock
-40.60 253 -115 30.10 47.04 -161 385 -178 -118 25.01 42.97 147 312 59.02 64.29 258 258 Net Issuance of Debt
-- -0.76 11.34 9.57 4.10 9.92 22.88 22.20 29.96 20.07 22.80 27.62 24.79 21.44 22.69 39.33 39.33 Other Financing
-117 118 -337 -264 -179 -157 168 -360 -366 -250 -348 -320 -164 -320 -388 -477 -477 Cash Flow from Financing
22.06 257 -173 -70.05 -3.15 6.96 363 -212 -134 10.17 -26.61 13.62 59.79 -9.99 29.42 29.68 29.68 Net Change in Cash
-27.88 -32.50 -34.33 -47.55 -61.01 -60.04 -73.94 -98.50 -95.59 -82.35 -89.39 -82.51 -124 -127 -143 -97.34 -97.34 Capital Expenditure
138 145 157 181 162 173 194 182 232 264 330 357 337 389 422 506 506 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MTD 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
21.65 21.90 20.37 24.21 11.64 20.87 22.24 17.97 21.06 24.28 26.35 27.15 29.33 43.51 28.38 35.23 32.16 PE Ratio(TTM)
15.72 19.17 17.68 19.93 11.98 18.94 22.54 20.23 22.54 26.27 25.09 25.79 30.10 37.46 29.52 38.62 35.25 Price to Owner Earnings
(TTM)
3.09 3.47 4.80 6.98 4.50 5.00 6.35 5.97 7.11 7.65 11.87 15.83 25.04 28.91 23.89 45.91 41.91 Price to Book
13.85 17.47 31.82 100 -- 21.55 21.09 22.01 22.85 19.61 52.49 486 -- -- -- -- -- Price to Tangible Book
16.89 16.39 20.36 23.85 14.47 20.86 26.59 26.43 26.33 28.17 27.01 26.71 33.49 41.98 34.43 39.01 35.61 Price-to-Free-Cash-Flow
Ratio
14.05 13.39 16.70 18.85 10.51 15.49 19.23 17.19 18.67 21.48 21.26 21.71 24.45 31.62 25.74 32.73 29.88 Price-to-Operating-Cash-
Flow Ratio
1.66 1.61 2.01 2.40 1.20 2.08 2.62 2.10 2.62 3.13 3.59 4.00 4.50 6.00 4.96 6.58 6.01 PS Ratio
5.79 3.67 1.87 1.77 0.61 1.26 1.60 1.39 1.69 1.67 1.81 2.23 2.58 3.51 2.14 2.60 2.44 PEG Ratio
1.68 1.63 2.03 2.44 1.34 2.18 2.61 2.14 2.63 3.13 3.58 4.04 4.64 6.11 5.09 6.78 6.15 EV-to-Revenue
11.46 10.36 12.84 14.51 7.98 12.91 13.80 11.70 13.40 15.38 16.74 17.44 19.34 24.38 19.39 25.27 22.91 EV-to-EBITDA
14.13 12.35 15.09 16.62 9.06 15.06 15.68 13.25 15.21 17.52 18.97 19.72 21.85 27.44 21.78 28.38 25.74 EV-to-EBIT
7.08 8.10 6.63 6.02 11.04 6.64 6.38 7.55 6.57 5.71 5.27 5.07 4.58 3.64 4.59 3.52 3.89 Return on Capital %
7.60 10.32 14.45 16.61 24.73 20.62 17.09 16.41 15.34 17.15 17.04 14.75 13.87 14.33 15.63 15.47 15.65 Forward Rate of Return
-- -- -- 43.99 22.22 30.32 37.86 31.39 35.64 38.80 42.63 41.86 45.39 59.78 47.59 57.58 52.56 Shiller PE Ratio
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,225 2,286 3,030 4,056 2,264 3,554 4,903 4,666 5,878 7,153 8,542 9,187 10,891 15,823 14,095 19,320 17,418 Market Cap
2,361 2,411 3,235 4,371 2,640 3,763 5,137 4,936 6,165 7,454 8,909 9,678 11,626 16,655 14,952 20,403 18,501 Enterprise Value
51.31 55.20 78.85 114 67.40 105 151 148 193 243 302 339 419 620 566 793 724 Month End Stock Price
-15.96 -16.57 -20.95 -28.50 -32.23 -27.26 -32.81 -37.57 -35.95 -37.50 -42.64 -47.25 -60.46 -72.58 -74.26 -88.72 -88.72 Net Cash (per share)
-4.77 -5.07 -7.45 -11.61 -14.58 -10.68 -11.31 -12.77 -10.88 -10.30 -15.58 -21.54 -32.09 -38.99 -39.44 -51.69 -51.69 Net Current Asset Value
(per share)
-9.46 -9.83 -13.03 -18.60 -21.91 -17.84 -20.93 -23.65 -21.90 -22.07 -27.45 -31.90 -43.08 -52.06 -52.75 -65.65 -65.65 Net-Net Working Capital (per
share)
30.73 37.95 50.28 65.88 75.09 84.93 92.93 99.55 108 120 137 144 146 177 212 238 238 Projected FCF (per share)
-- -- -- -- 91.63 83.70 97.84 121 142 166 190 204 243 303 361 433 433 Median PS (per share)
-- 15.04 42.07 64.20 110 83.25 94.66 107 114 145 167 152 163 177 264 305 305 Peter Lynch Fair Value (per
share)
14.06 13.38 14.67 10.96 -- 23.48 33.12 35.21 41.71 52.65 38.51 14.00 -- -- -- -- -- Graham Number (per share)
41.61 49.21 60.94 54.74 123 137 154 170 188 120 135 148 153 161 178 199 199 Earnings Power Value
(EPV)
3.49 3.23 7.82 4.48 3.83 4.53 4.35 4.74 6.16 6.80 7.73 8.12 7.89 8.63 8.40 9.23 8.75 Altman Z-Score
9.00 6.00 7.00 7.00 8.00 5.00 8.00 6.00 8.00 8.00 7.00 8.00 8.00 6.00 6.00 7.00 7.00 Piotroski F-Score
-2.59 -2.78 -2.43 -2.49 -2.60 -2.57 -2.58 -2.32 -2.47 -2.47 -2.78 -2.77 -2.61 -2.55 -2.58 -2.51 -2.51 Beneish M-Score
0.62 0.53 0.50 0.57 0.52 0.55 0.59 0.46 0.51 0.61 0.51 0.53 0.60 0.64 0.57 0.57 0.57 Scaled Net Operating
Assets
-2.01 -1.98 -0.20 -0.50 1.70 0.73 1.79 5.49 2.99 2.15 0.68 0.70 7.16 3.02 3.30 2.03 2.03 Sloan Ratio (%)
1.59 2.27 1.74 1.53 1.58 1.31 2.11 1.67 1.54 1.62 1.25 1.42 1.53 1.46 1.42 1.47 1.47 Current Ratio
1.14 1.84 1.36 1.14 1.18 0.97 1.71 1.27 1.18 1.25 0.95 1.04 1.15 1.09 1.06 1.11 1.11 Quick Ratio
51.97 58.20 80.80 119 114 106 158 192 195 253 306 347 430 689 692 872 874 Highest Stock Price
40.50 45.24 55.20 77.78 60.64 45.72 94.10 130 148 193 224 278 298 415 524 514 639 Lowest Stock Price
2.73 4.52 7.18 7.26 5.73 -0.76 4.21 2.58 3.74 3.03 4.22 4.08 3.95 1.84 2.43 2.28 2.28 Shares Buyback Ratio (%)
7.73 10.92 14.18 20.86 19.13 -10.45 14.35 21.98 4.63 5.22 8.59 0.79 9.54 11.24 10.29 5.80 5.84 YoY Rev. per Sh. Growth
(%)
12.32 6.33 53.17 21.76 23.19 -13.13 35.19 20.74 11.33 8.97 14.86 9.09 13.94 0.14 39.61 13.03 13.00 YoY EPS Growth (%)
7.14 18.65 14.92 28.52 18.94 -10.03 28.27 17.88 12.54 9.10 14.12 9.04 13.30 16.38 15.56 8.11 8.15 YoY EBITDA Growth (%)
3.74 5.97 10.87 13.66 18.98 16.55 13.92 12.97 12.45 14.53 14.58 12.15 11.39 12.41 13.26 13.53 13.20 EBITDA 5-Y Growth (%)
44.24 42.21 40.07 37.03 34.25 33.72 33.28 31.90 31.05 29.95 28.89 27.68 26.52 25.71 25.22 24.57 24.24 Shares Outstanding (Basic
Average)
43.37 41.40 38.43 35.64 33.60 33.85 32.43 31.59 30.41 29.49 28.24 27.09 26.02 25.54 24.92 24.35 24.35 Shares Outstanding (EOP)
1.79 1.92 2.05 1.26 0.95 0.99 1.04 1.09 1.21 1.32 1.32 0.96 1.09 1.16 1.48 1.47 1.47 Beta
02/25/05 02/21/06 02/16/07 02/15/08 02/13/09 02/09/10 02/16/11 02/13/12 02/08/13 02/07/14 02/06/15 02/04/16 02/02/17 02/09/18 02/08/19 02/07/20 Filing Date
02/21/06 02/16/07 02/16/07 02/13/09 02/09/10 02/16/11 02/08/13 02/07/14 02/06/15 02/04/16 02/02/17 02/09/18 02/08/19 02/07/20 02/07/20 02/07/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MTD 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MTD 7/7
Sealed Air Corp (NYSE:SEE) 03/02/2020 4:10PM EST GuruFocus
Price: $ 31.44 +1.13(+3.73%) Market Cap: $ 4.86 B Enterprise Value: $8.5 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 18.60
Cash to Debt 0.07 Operating margin (%) 12.95
Forward P/E N/A
Equity to Asset -0.03 Net-margin (%) 5.49
PE(NRI) 16.72
Interest Coverage 3.25 ROA (%) 4.90
F-Score:
P/S 1.02
ROC (Joel Greenblatt) (%) 50.51
8 PFCF 15.17
Z-Score: Revenue Growth (3Y)(%) 13.10
2.15 POCF 9.54
EBITDA Growth (3Y)(%) -2.60
M-Score: EV-to-EBIT 15.15
-2.45 EPS Growth (3Y)(%) 8.50
PEG 6.42
WACC vs 5.40%
ROIC 15.52% Shiller P/E 30.94
WACC
ROIC Current Ratio 1.09
Quick Ratio 0.69
Days Inventory 66.23
Days Sales Outstanding 42.40
Warning Signs Quarterly Revenues Company Description
Stock buyback: Poor Mar Jun Sep Dec Full Year Sealed Air is organized via two reporting segments. Food care includes food packaging products like Cryovac,
Darfresh, and OptiDure aimed primarily at meats. Product care includes Sealed Air's Bubble Wrap, Instapak, Jiffy
buyback track record 2016 1,006 1,039 1,065 1,101 4,211 mailers, and shrink film packaging systems that cater to industrial and e-commerce applications.... (Read More)
2017 1,032 1,070 1,131 1,228 4,462 Competitors: NYSE:BMS, NYSE:SON, NYSE:BERY, XSWX:SIGN, NYSE:ARD, OHEL:HUH1V, NYSE:GPK,
2018 1,131 1,155 1,186 1,260 4,733 NAS:REYN, LSE:SMDS, TSX:CCL.A, NYSE:ATR, SZSE:002812, NAS:SLGN, SZSE:002831, TSE:5901,
Good Signs 2019 1,113 1,161 1,219 1,299 4,791
SHSE:600529, XMAD:VID, WBO:MMK, TSE:7947, XMAD:VIS
Piotroski F-Score: High 2020 Insider Trades
Operating Margin %: Quarterly Earnings per Share
Expansion Mar Jun Sep Dec Full Year
Dividend Yield %: Close to 5- 2016 0.51 0.25 0.83 0.87 2.46
year high 2017 -0.22 0.52 4.15 -0.19 4.26
2018 -1.21 0.71 0.50 1.28 1.28
PS Ratio: Close to 5-year low 2019 0.37 0.21 0.44 0.67 1.69
Insider Buy: Insider Buying 2020
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
GuruFocus does not 2016 0.13 0.16 0.16 0.16 0.61
calculate intrinsic value: DCF 2017 0.16 0.16 0.16 0.16 0.64
(Earnings Based) for 2018 0.16 0.16 0.16 0.16 0.64
companies with one star 2019 0.16 0.16 0.16 0.16 0.64
predictability or not rated. But 2020
you can go to each stock's Growth Rate
DCF page to calculate
yourself. Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) -0.30 0.80 4.50
Reverse DCF EBITDA Growth (%) 0.00 2.60 -23.00
GuruFocus does not Free Cash Flow Growth (%) 0.00 0.00 27.90
calculate reverse DCF growth Book Value Growth (%) 0.00 0.00 0.00
rate for companies with one EPS Growth (%) 0.00 4.00 101.10
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SEE 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
19.82 21.48 23.21 24.90 25.68 23.24 25.41 29.49 39.21 35.91 36.23 21.34 21.36 23.62 29.54 30.87 30.89 Revenue per Share
3.75 3.63 3.81 3.89 2.68 3.50 3.73 3.18 -6.22 3.85 3.84 3.46 4.06 3.94 4.88 3.76 4.38 EBITDA per Share
2.80 2.69 2.89 2.99 1.86 2.66 2.86 2.19 -7.78 2.53 2.59 2.43 2.98 3.15 4.06 3.57 3.62 EBIT per Share
1.13 1.35 1.47 1.89 0.99 1.35 1.44 0.80 -7.32 0.58 1.20 1.62 2.46 4.29 1.20 1.69 1.69 Earnings per Share (diluted)
1.13 1.35 1.47 1.89 0.99 1.35 1.44 0.71 -8.40 0.44 1.20 0.77 1.48 0.33 0.94 1.89 1.88 eps without NRI
1.87 1.53 1.89 1.55 1.09 2.10 1.52 0.68 -7.94 2.07 -2.44 3.45 3.15 4.49 1.39 1.51 1.51 Owner Earnings per Share (TTM)
1.74 1.40 1.42 0.66 1.19 2.58 2.24 1.39 1.42 2.48 -1.74 3.86 3.20 1.27 1.62 2.07 2.07 Free Cashflow per Share
-- -- 0.30 0.40 0.48 0.48 0.50 0.52 0.52 0.52 0.52 0.52 0.61 0.64 0.64 0.64 0.64 Dividends per Share
7.97 8.55 10.26 12.50 12.19 13.84 15.09 15.40 7.42 7.21 5.52 2.69 3.15 0.90 -2.24 -1.26 -1.27 Book Value per Share
-3.71 -3.17 -1.87 0.31 -0.09 1.58 2.88 -17.12 -14.59 -13.85 -12.86 -16.16 -6.79 -11.10 -15.41 -16.69 -16.72 Tangible Book per Share
12.63 11.26 11.48 11.58 9.37 10.45 8.97 26.05 23.55 22.42 21.02 23.27 21.41 19.32 22.32 25.17 25.20 Total Debt per Share
26.64 28.09 32.46 23.14 14.94 21.86 25.45 17.21 17.51 34.05 42.43 44.60 45.34 49.30 34.84 39.83 31.44 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17.55 18.77 17.99 19.21 9.12 11.85 11.05 5.53 -64.16 8.75 20.03 39.43 84.98 213 -- -- -- Return on Equity %
4.51 5.26 5.55 6.75 3.45 4.70 4.73 1.77 -13.59 1.36 3.01 4.37 6.56 12.84 3.74 4.86 4.90 Return on Assets %
52.27 53.35 57.30 51.77 29.86 44.62 51.56 33.91 -105 42.56 45.80 41.32 56.17 61.15 63.97 48.79 50.51 Return on Capital %
11.79 12.08 12.67 13.16 11.57 11.16 12.79 7.24 8.36 7.06 13.72 7.23 10.40 2.58 8.15 15.62 15.52 Return on Invested Capital %
12.48 7.66 9.67 7.61 8.17 11.42 10.42 9.98 8.52 8.42 4.71 6.00 8.55 6.09 5.33 6.28 5.40 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 7.65 9.87 10.46 6.73 8.03 8.04 6.52 4.70 4.58 5.45 5.73 4.99 5.15 Effective Interest Rate on Debt %
30.60 28.35 28.65 27.97 25.53 28.72 27.90 28.91 33.34 33.68 34.68 33.00 33.27 31.65 31.74 32.66 32.66 Gross Margin %
14.11 12.54 12.45 11.99 9.94 11.44 12.08 9.84 8.11 8.82 9.28 15.10 15.00 13.08 14.88 12.95 12.95 Operating Margin %
5.68 6.26 6.33 7.59 3.71 5.76 5.70 2.73 -18.67 1.64 3.33 7.60 11.55 18.26 4.08 5.49 5.49 Net Margin %
8.78 6.52 6.12 2.67 4.62 11.12 8.81 4.71 3.63 6.90 -4.81 18.10 14.99 5.39 5.48 6.71 6.71 FCF Margin %
1.58 1.32 1.12 0.93 0.77 0.76 0.59 1.69 3.17 3.11 3.81 8.65 6.79 21.39 -9.97 -19.91 -19.91 Debt to Equity
0.28 0.29 0.33 0.37 0.39 0.41 0.45 0.26 0.16 0.15 0.15 0.07 0.08 0.03 -0.07 -0.03 -0.03 Total Equity to Total Asset
0.44 0.38 0.37 0.34 0.30 0.31 0.27 0.44 0.49 0.48 0.56 0.62 0.56 0.62 0.69 0.68 0.68 Total Debt to Total Asset
24.31 23.83 25.09 24.88 23.73 23.42 23.16 18.78 24.28 27.99 31.38 18.95 18.91 22.25 29.08 28.94 29.13 Gross Profit to Total Asset %
0.80 0.84 0.88 0.89 0.93 0.82 0.83 0.65 0.73 0.83 0.91 0.57 0.57 0.70 0.92 0.89 0.89 Asset Turnover
-- -- 0.20 0.21 0.49 0.36 0.35 0.73 -- 1.18 0.43 0.68 0.41 1.94 0.68 0.34 0.34 Dividend Payout Ratio
-- 60.22 60.83 61.98 51.45 -- -- 87.74 58.57 53.46 47.20 62.77 39.91 45.19 36.51 42.40 42.40 Days Sales Outstanding
34.41 31.21 33.56 34.46 28.05 25.85 26.16 52.11 34.79 37.53 45.00 82.63 70.03 86.63 86.43 83.55 83.55 Days Accounts Payable
54.63 51.56 54.29 59.44 57.98 62.38 54.41 59.79 54.56 52.20 51.14 83.33 72.57 57.66 59.41 63.08 66.23 Days Inventory
20.22 80.57 81.56 86.96 81.38 36.53 28.25 95.42 78.34 68.13 53.34 63.47 42.45 16.22 9.49 21.93 25.08 Cash Conversion Cycle
6.68 7.08 6.72 6.14 6.29 5.85 6.71 6.10 6.69 6.99 7.14 4.38 5.03 6.33 6.14 5.79 5.51 Inventory Turnover
0.69 0.72 0.71 0.72 0.74 0.71 0.72 0.71 0.67 0.66 0.65 0.67 0.67 0.68 0.68 0.67 0.67 COGS to Revenue
0.10 0.10 0.11 0.12 0.12 0.12 0.11 0.12 0.10 0.10 0.09 0.15 0.13 0.11 0.11 0.12 0.12 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SEE 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,798 4,085 4,328 4,651 4,844 4,243 4,490 5,467 7,559 7,691 7,751 4,410 4,211 4,462 4,733 4,791 4,791 Revenue
2,636 2,927 3,088 3,350 3,607 3,024 3,237 3,887 5,039 5,101 5,063 2,955 2,810 3,050 3,231 3,226 3,226 Cost of Goods Sold
1,162 1,158 1,240 1,301 1,237 1,219 1,253 1,581 2,521 2,590 2,688 1,455 1,401 1,412 1,502 1,565 1,565 Gross Profit
30.60 28.35 28.65 27.97 25.53 28.72 27.90 28.91 33.34 33.68 34.68 33.00 33.27 31.65 31.74 32.66 32.66 Gross Margin %
626 646 701 750 755 719 699 1,004 1,775 1,788 1,849 778 754 816 782 916 916 Selling, General, & Admin. Expense
-0.00 -- -0.00 -6.80 -0.00 14.00 11.20 38.40 133 123 119 11.10 15.00 13.10 15.70 28.90 28.90 Other Operating Expense
536 512 539 558 482 485 543 538 613 678 719 666 632 583 704 620 620 Operating Income
14.11 12.54 12.45 11.99 9.94 11.44 12.08 9.84 8.11 8.82 9.28 15.10 15.00 13.08 14.88 12.95 12.95 Operating Margin %
-- -- -- -- -- -- 8.10 9.00 12.00 11.00 15.50 6.80 7.50 17.60 15.10 -- 6.80 Interest Income
-- -- -- -- -128 -155 -162 -217 -385 -361 -288 -211 -199 -202 -193 -184 -191 Interest Expense
-- -- -- -- -128 -155 -155 -213 -378 -357 -277 -210 -197 -190 -182 -184 -188 Net Interest Income
-213 -136 -139 -102 -131 -0.50 -44.30 -135 -2,119 -141 -175 -165 -46.50 -0.10 -64.00 -66.00 -62.40 Other Income (Expense)
323 377 400 456 222 330 343 189 -1,884 180 267 291 388 393 458 370 370 Pre-Tax Income
-107 -121 -126 -103 -42.40 -85.60 -87.50 -56.70 265 -84.90 -9.10 -133 -95.60 -331 -308 -76.60 -76.60 Tax Provision
33.23 32.08 31.49 22.59 19.07 25.95 25.48 29.94 14.08 47.11 3.41 45.50 24.65 84.03 67.17 20.69 20.69 Tax Rate %
216 256 274 353 180 244 256 133 -1,619 95.30 258 159 292 62.80 150 294 294 Net Income (Continuing Operations)
-- -- -- -- -- -- -- 16.40 208 30.50 -- 177 194 752 42.80 -30.70 -30.70 Net Income (Discontinued
Operations)
216 256 274 353 180 244 256 149 -1,411 126 258 335 486 815 193 263 263 Net Income
5.68 6.26 6.33 7.59 3.71 5.76 5.70 2.73 -18.67 1.64 3.33 7.60 11.55 18.26 4.08 5.49 5.49 Net Margin %
1.28 1.55 1.70 2.21 1.13 1.54 1.61 0.89 -7.32 0.65 1.22 1.63 2.49 4.33 1.21 1.70 1.71 EPS (Basic)
1.13 1.35 1.47 1.89 0.99 1.35 1.44 0.80 -7.32 0.58 1.20 1.62 2.46 4.29 1.20 1.69 1.69 EPS (Diluted)
192 190 186 187 189 183 177 185 193 214 214 207 197 189 160 155 155 Shares Outstanding (Diluted
Average)
183 178 171 169 155 155 155 183 300 283 267 213 214 149 131 28.90 118 Depreciation, Depletion and
Amortization
719 690 710 727 505 639 660 589 -1,200 825 822 716 801 744 782 583 679 EBITDA
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
358 456 373 430 129 695 676 704 680 992 286 352 334 594 272 262 262 Cash And Cash Equivalents
54.10 44.10 33.90 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
412 500 407 430 129 695 676 704 680 992 286 352 334 594 272 262 262 Cash, Cash Equivalents, Marketable
Securities
-- 674 721 790 683 -- -- 1,314 1,213 1,126 1,002 758 461 552 473 557 557 Accounts Receivable
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SEE 3/7
106 97.90 109 115 98.70 90.10 94.50 151 124 117 104 110 81.50 82.80 79.90 -- -- Inventories, Raw Materials &
Components
87.20 90.10 108 132 117 97.20 113 121 117 111 101 112 114 126 142 -- -- Inventories, Work In Process
-24.90 -35.60 -48.70 -54.10 -56.00 -44.20 -49.10 -53.30 -51.40 -- -- -- -- -- -- -- -- Inventories, Inventories
Adjustments
250 257 342 389 405 326 338 559 539 503 484 439 261 298 323 -- -- Inventories, Finished Goods
-0.00 0.00 -0.00 0.00 -- -0.00 0.00 -- -- -- -- -- -0.00 -- -0.00 570 570 Inventories, Other
418 409 509 582 564 469 496 778 729 730 689 661 457 507 545 570 570 Total Inventories
119 112 119 134 297 243 172 555 567 463 238 291 880 37.90 125 61.70 61.70 Other Current Assets
1,611 1,695 1,757 1,936 1,673 2,073 2,040 3,350 3,289 3,460 2,619 2,216 2,215 1,866 1,555 1,564 1,564 Total Current Assets
35.50 32.80 35.70 54.30 45.40 49.70 53.00 139 139 136 98.60 86.70 41.60 43.50 41.20 -- -- Land And Improvements
525 509 516 555 565 604 620 702 705 730 636 606 600 719 729 -- -- Buildings And Improvements
1,970 2,045 2,054 2,158 2,179 2,332 2,326 2,461 2,531 2,488 2,196 2,141 2,092 2,331 2,326 -- -- Machinery, Furniture, Equipment
46.50 66.70 140 192 124 42.70 43.60 104 85.70 107 109 191 210 115 155 -- -- Construction In Progress
2,714 2,653 2,882 3,099 3,044 3,153 3,149 3,558 3,607 3,626 3,180 3,165 3,048 3,324 3,386 1,236 1,236 Gross Property, Plant and Equipment
-1,705 -1,742 -1,912 -2,019 -1,992 -2,142 -2,201 -2,289 -2,413 -2,491 -2,237 -2,219 -2,158 -2,326 -2,350 -- -- Accumulated Depreciation
1,009 911 970 1,080 1,051 1,011 948 1,269 1,194 1,135 943 946 890 998 1,036 1,236 1,236 Property, Plant and Equipment
1,953 1,909 1,957 1,970 1,938 1,949 1,946 6,245 4,283 4,132 3,869 3,694 1,923 2,023 2,049 2,395 2,395 Intangible Assets
-- -- 1,957 1,970 1,938 1,949 1,946 4,210 3,151 3,115 2,997 2,910 1,883 1,940 1,948 2,217 2,217 Goodwill
282 349 337 452 324 387 465 567 565 451 523 550 2,388 392 410 570 570 Other Long Term Assets
4,855 4,864 5,021 5,438 4,986 5,420 5,399 11,432 9,332 9,176 7,953 7,405 7,416 5,280 5,050 5,765 5,765 Total Assets
249 250 284 316 277 214 232 555 480 525 624 669 539 724 765 739 739 Accounts Payable
-- -- -- -- -- -- -- 60.80 23.50 35.60 38.10 49.70 48.30 47.30 23.50 12.30 12.30 Total Tax Payable
249 250 774 869 1,034 977 1,028 2,227 2,265 2,403 1,561 1,506 1,053 1,344 1,246 780 780 Accounts Payable & Accrued
Expense
23.60 21.80 25.70 340 189 34.70 30.00 36.40 41.00 283 144 295 380 27.50 238 142 142 Current Portion of Long-Term Debt
-- -- 7.80 12.10 11.30 8.00 5.00 16.00 10.30 8.10 -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- 7.80 12.10 11.30 8.00 5.00 16.00 10.30 8.10 -- -- -- -- -- -- -- DeferredTaxAndRevenue
1,032 1,261 599 521 387 414 385 227 18.60 7.00 21.60 6.60 687 6.60 5.40 515 515 Other Current Liabilities
1,304 1,534 1,406 1,742 1,622 1,434 1,448 2,506 2,335 2,701 1,727 1,807 2,119 1,378 1,489 1,437 1,437 Total Current Liabilities
2,088 1,813 1,827 1,532 1,290 1,626 1,399 4,967 4,541 4,116 4,282 4,267 3,763 3,231 3,237 3,699 3,699 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 65.70 65.70 Capital Lease Obligation
2,088 1,813 1,827 1,532 1,290 1,626 1,399 4,967 4,541 4,116 4,282 4,267 3,763 3,231 3,237 3,764 3,764 Long-Term Debt & Capital Lease
Obligation
1.58 1.32 1.12 0.93 0.77 0.76 0.59 1.69 3.17 3.11 3.81 8.65 6.79 21.39 -9.97 -19.91 -19.91 Debt to Equity
-- -- -- -- -- -- -- 295 369 332 425 440 224 215 213 -- -- PensionAndRetirementBenefit
-- 23.90 7.60 9.90 5.80 6.40 8.00 440 367 295 77.10 75.00 4.90 28.50 20.40 30.70 30.70 NonCurrent Deferred Liabilities
-- -- -- -- 1.00 0.70 -3.00 -5.10 0.50 1.40 -- -- -- -- -- -- -- Minority Interest
130 102 126 136 142 153 143 272 276 316 279 289 695 275 440 730 730 Other Long-Term Liabilities
3,522 3,472 3,366 3,419 3,059 3,220 2,998 8,480 7,887 7,760 6,790 6,878 6,806 5,128 5,399 5,961 5,961 Total Liabilities
8.60 8.60 8.60 16.80 18.60 18.70 18.80 22.10 22.30 22.40 22.50 22.60 22.80 23.00 23.20 23.20 23.20 Common Stock
459 715 972 1,261 1,364 1,531 1,706 1,767 255 302 449 675 1,040 1,735 1,836 1,999 1,999 Retained Earnings
-90.50 -185 -124 -57.20 -178 -113 -110 -145 -165 -277 -614 -820 -949 -845 -920 -909 -909 Accumulated other comprehensive
income (loss)
1,060 1,076 1,076 1,086 1,103 1,127 1,153 1,690 1,685 1,695 1,787 1,915 1,974 1,940 2,050 2,074 2,074 Additional Paid-In Capital
-104 -222 -278 -287 -383 -365 -363 -376 -353 -328 -481 -1,266 -1,478 -2,701 -3,337 -3,382 -3,382 Treasury Stock
1,334 1,392 1,655 2,020 1,925 2,200 2,405 2,958 1,444 1,415 1,163 527 610 152 -349 -196 -196 Total Equity
0.28 0.29 0.33 0.37 0.39 0.41 0.45 0.26 0.16 0.15 0.15 0.07 0.08 0.03 -0.07 -0.03 -0.03 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SEE 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
216 256 274 353 180 244 256 133 -1,619 95.30 258 335 486 815 193 263 263 Net Income
-- -- -- -- -- -- -- -- -- 13.10 20.40 42.90 -4.90 29.90 13.70 -- -- Net Foreign Currency Exchange
Gain
216 256 274 353 180 244 256 133 -1,619 95.30 258 335 486 815 193 263 263 Net Income From Continuing
Operations
183 178 171 169 155 155 155 183 300 283 267 213 214 149 131 28.90 118 Depreciation, Depletion and
Amortization
-19.10 -36.70 -7.40 -20.90 39.70 35.20 -33.90 -102 -25.80 13.00 -242 36.70 -33.90 -81.40 -0.90 38.10 38.10 Change In Receivables
-29.10 -7.00 -33.60 -49.30 -31.10 110 -19.40 -11.40 35.20 22.00 -48.70 -38.30 -17.10 -55.40 -61.20 12.40 12.40 Change In Inventory
48.50 16.70 15.60 16.80 -28.80 -68.40 19.00 -28.10 -38.60 84.50 -790 317 228 154 42.60 -37.00 -37.00 Change In Payables And Accrued
Expense
42.80 -26.30 35.70 -86.80 41.00 112 -14.80 -13.60 -10.90 105 -1,087 279 129 -135 52.60 27.30 27.30 Change In Working Capital
-32.70 -29.80 -44.70 -28.50 -39.50 -16.60 -3.30 -60.90 -319 3.80 146 -22.60 -61.70 121 10.90 -- -44.20 Change In DeferredTax
-- -- -- -- 16.50 38.80 30.60 25.00 16.90 24.10 54.10 61.20 59.90 44.90 29.20 -- 30.30 Stock Based Compensation
27.80 -14.20 -3.00 -28.40 17.50 15.00 60.00 97.20 111 127 133 116 79.20 -571 11.00 192 83.40 Cash Flow from Others
436 363 433 378 404 552 483 379 397 647 -219 982 907 424 428 511 511 Cash Flow from Operations
-103 -96.90 -168 -254 -181 -80.30 -87.60 -122 -123 -116 -154 -184 -276 -184 -169 -190 -190 Purchase Of Property, Plant,
Equipment
5.00 3.30 15.60 1.90 3.90 7.20 4.20 10.40 7.80 11.60 16.10 32.90 4.90 1.70 -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -2.90 -- -24.10 -2,247 -- -1.00 -3.60 -27.50 -5.80 -119 -91.20 -455 -455 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- 94.60 7.80 2,158 6.80 0.20 Sale Of Business
--
-403 -340 -274 -388 -- -- -- -263 -- -8.50 -- -- -46.00 -70.50 -11.10 -20.70 -20.70 Purchase Of Investment
416 350 284 414 -- -- 12.60 -- -- -- 15.10 24.00 -- -- -- -- -- Sale Of Investment
-- -- -- -- -- -- -- -11.40 312 121 -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-6.40 -5.30 -60.30 -47.10 3.00 2.80 -2.00 255 0.10 0.00 0.00 -- -0.00 -0.00 -2.60 -0.00 -0.20 Cash From Other Investing Activities
-91.00 -88.90 -203 -274 -177 -70.30 -96.90 -2,377 197 6.70 -126 -60.00 -315 1,786 -267 -666 -666 Cash Flow from Investing
1.10 2.50 2.80 0.70 -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-86.20 -116 -52.40 -6.80 -95.10 -- -9.80 -12.20 -9.60 -3.90 -187 -811 -248 -1,324 -591 -67.30 -124 Repurchase of Stock
-217 -2.70 -252 11.40 -391 166 -281 1,851 -475 -214 -27.90 83.20 -181 -463 222 333 333 Net Issuance of Debt
-- -- -48.60 -64.60 -76.40 -75.70 -79.70 -87.40 -101 -102 -111 -107 -122 -120 -104 -99.10 -99.10 Cash Flow for Dividends
1.60 -1.80 -- -0.20 -- -- -3.00 273 -43.80 -0.10 4.60 46.20 6.10 17.40 -6.10 -26.80 -26.80 Other Financing
-300 -118 -350 -59.50 -563 90.30 -373 2,024 -629 -320 -321 -789 -545 -1,890 -478 140 140 Cash Flow from Financing
60.20 97.80 -82.70 57.20 -301 566 -18.90 28.00 -24.00 313 -704 73.00 8.40 207 -322 -9.30 -9.30 Net Change in Cash
-103 -96.90 -168 -254 -181 -80.30 -87.60 -122 -123 -116 -154 -184 -276 -184 -169 -190 -190 Capital Expenditure
334 266 265 124 224 472 396 258 274 531 -373 798 631 241 259 321 321 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SEE 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
23.68 20.88 22.08 12.24 15.24 16.19 17.55 22.35 -- 58.71 35.36 27.36 18.43 11.57 27.22 23.57 18.60 PE Ratio(TTM)
14.28 18.34 17.20 14.94 13.73 10.43 16.74 25.16 -- 16.43 -- 12.91 14.41 10.99 25.06 26.39 20.83 Price to Owner Earnings
(TTM)
3.34 3.29 3.16 1.85 1.23 1.58 1.69 1.12 2.36 4.72 7.68 16.59 14.39 54.60 -- -- -- Price to Book
-- -- -- 74.89 -- 13.84 8.84 -- -- -- -- -- -- -- -- -- -- Price to Tangible Book
14.91 20.01 22.79 34.85 12.39 8.36 11.38 12.28 12.37 13.69 -- 11.55 14.13 38.55 21.04 19.21 15.17 Price-to-Free-Cash-Flow
Ratio
11.41 14.68 13.96 11.40 6.85 7.16 9.32 8.40 8.53 11.23 -- 9.36 9.84 21.84 12.87 12.08 9.54 Price-to-Operating-Cash-
Flow Ratio
1.31 1.31 1.40 0.93 0.57 0.94 1.00 0.59 0.45 0.94 1.17 2.14 2.12 2.08 1.18 1.29 1.02 PS Ratio
-- -- 6.97 1.32 6.49 -- -- -- -- -- -- -- -- -- 12.08 3.26 6.42 PEG Ratio
1.62 1.45 1.54 1.11 0.77 1.05 1.07 1.39 0.97 1.31 1.69 2.94 2.99 2.46 1.82 2.05 1.77 EV-to-Revenue
8.56 8.57 9.42 7.13 7.34 6.95 7.28 12.91 -6.09 12.24 15.91 18.10 15.72 14.74 10.90 14.46 12.52 EV-to-EBITDA
11.48 11.54 12.40 9.29 10.59 9.16 9.51 18.72 -4.87 18.64 23.56 25.78 21.45 18.44 13.06 17.49 15.15 EV-to-EBIT
8.71 8.67 8.06 10.76 9.44 10.92 10.52 5.34 -20.53 5.36 4.24 3.88 4.66 5.42 7.66 5.72 6.60 Return on Capital %
-4.00 1.14 8.27 15.55 11.43 1.69 4.36 8.25 10.19 5.96 -- -- -- -- 8.20 12.70 14.36 Forward Rate of Return
-- -- 43.84 30.14 17.20 23.83 26.60 17.53 24.32 51.23 65.84 68.51 61.72 51.48 35.25 39.20 30.94 Shiller PE Ratio
-- -- 0.92 1.73 3.21 2.20 1.96 3.02 2.97 1.53 1.23 1.17 1.35 1.30 1.84 1.61 2.05 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,455 4,576 5,237 3,740 2,359 3,474 4,054 3,305 3,407 6,681 8,933 8,742 8,772 8,312 5,423 6,182 4,858 Market Cap
6,155 5,911 6,682 5,182 3,710 4,442 4,805 7,600 7,309 10,089 13,073 12,952 12,581 10,976 8,625 9,825 8,502 Enterprise Value
26.64 28.09 32.46 23.14 14.94 21.86 25.45 17.21 17.51 34.05 42.43 44.60 45.34 49.30 34.84 39.83 31.44 Month End Stock Price
-18.59 -18.25 -18.34 -18.49 -18.57 -15.89 -14.56 -40.46 -37.05 -34.50 -30.89 -33.29 -33.45 -26.89 -32.94 -36.72 -36.77 Net Cash (per share)
-11.42 -10.91 -9.98 -9.17 -8.79 -7.22 -5.99 -26.68 -23.64 -21.92 -19.82 -23.79 -23.73 -19.35 -24.70 -28.33 -28.37 Net Current Asset Value
(per share)
-17.34 -13.89 -13.41 -13.03 -13.54 -14.42 -13.00 -33.30 -30.50 -28.33 -25.69 -28.71 -30.49 -22.93 -28.91 -32.19 -32.24 Net-Net Working Capital (per
share)
24.05 21.16 23.96 23.76 22.25 25.23 26.43 24.50 22.00 24.59 18.91 17.20 19.62 19.54 18.16 17.64 17.64 Projected FCF (per share)
-- -- -- 31.56 32.33 27.41 28.63 32.41 40.52 33.85 33.33 19.09 19.60 21.83 28.54 36.11 36.11 Median PS (per share)
-- -- 14.18 17.54 9.50 -- -- -- -- -- -- -- -- -- -- 12.22 12.22 Peter Lynch Fair Value (per
share)
-- -- -- 3.62 -- 6.93 9.66 -- -- -- -- -- -- -- -- -- -- Graham Number (per share)
9.57 11.56 13.34 12.84 19.74 23.71 25.86 6.81 14.74 13.72 -23.72 -14.43 -14.70 -18.31 -26.33 9.07 9.07 Earnings Power Value
(EPV)
1.97 2.13 2.41 2.16 2.06 2.26 2.53 1.13 0.70 1.69 2.21 1.78 1.81 2.76 2.50 2.29 2.15 Altman Z-Score
6.00 6.00 9.00 6.00 4.00 7.00 4.00 5.00 6.00 6.00 6.00 5.00 8.00 7.00 6.00 8.00 8.00 Piotroski F-Score
-2.56 -2.48 -2.55 -2.40 -2.61 -3.87 -2.53 -2.30 -2.54 -2.76 -2.19 -2.78 -3.09 -2.00 -2.73 -2.45 -2.45 Beneish M-Score
0.65 0.56 0.64 0.69 0.60 0.64 0.58 1.34 0.47 0.52 0.58 0.60 0.60 0.38 0.54 0.68 0.61 Scaled Net Operating
Assets
-2.67 -0.38 0.87 4.58 -0.96 -4.38 -2.41 18.78 -21.49 -5.75 7.58 -7.92 -1.43 -26.43 0.63 7.24 7.24 Sloan Ratio (%)
1.24 1.11 1.25 1.11 1.03 1.45 1.41 1.34 1.41 1.28 1.52 1.23 1.05 1.35 1.04 1.09 1.09 Current Ratio
0.92 0.84 0.89 0.78 0.68 1.12 1.07 1.03 1.10 1.01 1.12 0.86 0.83 0.99 0.68 0.69 0.69 Quick Ratio
27.28 28.22 32.78 33.72 28.18 22.65 25.59 28.52 21.04 34.13 43.47 55.40 52.68 50.22 49.64 46.84 47.13 Highest Stock Price
22.14 23.01 22.91 22.41 12.61 10.43 18.84 15.61 13.11 17.51 29.86 39.42 38.36 41.72 30.74 34.73 29.69 Lowest Stock Price
1.72 2.60 0.97 -0.18 2.32 -0.67 -0.23 -20.56 -1.30 -0.84 -7.31 6.90 1.29 12.86 7.68 0.29 0.42 Shares Buyback Ratio (%)
-9.99 8.38 8.06 7.29 3.12 -9.52 9.37 16.05 32.95 -8.42 0.92 -41.11 0.08 10.60 25.08 4.50 4.71 YoY Rev. per Sh. Growth
(%)
12.50 19.56 9.29 28.57 -47.62 36.36 6.67 -44.44 -1,015 108 107 35.00 51.85 74.39 -72.03 40.83 32.03 YoY EPS Growth (%)
-15.56 -3.25 4.93 2.18 -31.11 30.63 6.63 -14.95 -296 162 -0.23 -9.84 17.33 -3.00 23.85 -23.01 -11.25 YoY EBITDA Growth (%)
-10.57 -5.70 3.17 9.28 2.35 -5.17 -2.12 -1.27 -- -- -- -- -- -- 2.80 6.50 2.60 EBITDA 5-Y Growth (%)
168 166 161 160 158 157 158 167 193 195 210 204 194 187 159 154 154 Shares Outstanding (Basic
Average)
167 163 161 162 158 159 159 192 195 196 211 196 193 169 156 155 155 Shares Outstanding (EOP)
2.30 1.13 1.43 1.25 1.10 1.46 1.40 1.50 1.17 1.36 1.59 1.39 1.24 0.97 0.90 1.06 1.04 Beta
03/21/05 03/15/06 03/01/07 02/29/08 03/02/09 03/01/10 02/25/11 02/29/12 03/01/13 02/28/14 02/27/15 02/22/16 02/15/17 02/21/18 02/19/19 02/11/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SEE 6/7
03/15/06 03/01/07 02/29/08 02/29/08 03/01/10 02/25/11 03/01/13 02/28/14 02/27/15 02/22/16 02/15/17 02/21/18 02/19/19 02/19/19 02/19/19 02/11/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SEE 7/7
Acuity Brands Inc (NYSE:AYI) 03/02/2020 4:10PM EST GuruFocus
Price: $ 102.59 -0.27(-0.26%) Market Cap: $ 4.06 B Enterprise Value: $4.22 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 13.24
Cash to Debt 0.63 Operating margin (%) 12.25
Forward P/E N/A
Equity to Asset 0.60 Net-margin (%) 8.61
PE(NRI) 13.24
Interest Coverage 12.09 ROE (%) 16.47
F-Score:
P/B 2.04
ROA (%) 9.86
6 P/S 1.14
Z-Score: ROC (Joel Greenblatt) (%) 61.53
4.58 PFCF 9.20
Revenue Growth (3Y)(%) 7.10
M-Score: POCF 8.25
-2.75 EBITDA Growth (3Y)(%) 3.80
EV-to-EBIT 9.85
WACC vs 10.52% EPS Growth (3Y)(%) 7.70
ROIC 17.73% PEG 1.15
WACC
ROIC Shiller P/E 18.95
Current Ratio 2.11
Quick Ratio 1.49
Days Inventory 66.43
Days Sales Outstanding 51.84
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Declined Mar Jun Sep Dec Full Year Acuity Brands Inc is the parent company of Acuity Brands Lighting and other subsidiaries, which provide lighting
products for commercial, institutional, industrial, and residential applications. These products include luminaires,
2016 778 852 925 851 3,406 lighting controls, lighting components, and integrated lighting systems that use a combination of light sources.
2017 805 892 958 843 3,497 Customers include electrical distributors, electric utilities, retail home improvement centers, and lighting showrooms. A
Good Signs 2018 832 944 1,061 933 3,770
majority of the firms' revenue is generated in the United States.... (Read More)
Competitors: SZSE:002212 , NYSE:NVT, TSE:6504 , NYSE:VRT, XAMS:LIGHT, SHSE:600885 , SHSE:600522 ,
Dividend Yield %: Close to 5- 2019 854 948 938 835 3,575 SZSE:002074, TPE:2492, BOM:517354, SZSE:000988, XTER:VAR1, NYSE:ENR, SZSE:300001, SHSE:600089,
year high 2020 SZSE:300207, NYSE:ENS, SHSE:688006, SZSE:300274, SHSE:600580
PE Ratio: Close to 10-year Quarterly Earnings per Share Insider Trades
low Mar Jun Sep Dec Full Year
PB Ratio: Close to 10-year 2016 1.49 1.69 1.89 1.86 6.93
low 2017 1.53 1.90 2.15 1.70 7.28
2018 2.33 1.80 2.70 1.98 8.81
PS Ratio: Close to 5-year low 2019 1.67 2.22 2.42 1.44 7.75
2020
DCF Quarterly Dividends Per Share
EPS without NRI: $7.75 Mar Jun Sep Dec Full Year
Growth Rate in the next 10 2016 0.13 0.13 0.13 0.13 0.52
years: 18.90% 2017 0.13 0.13 0.13 0.13 0.52
Terminal Growth Rate for 10 2018 0.13 0.13 0.13 0.13 0.52
years: 4% 2019 0.13 0.13 0.13 0.13 0.52
Fair Value: $205.14 2020
Growth Rate
Reverse DCF
Annual Rates(per share) 10-Y 5-Y 12-M
Expected eps Growth Rate:
Revenue Growth (%) 10.40 11.10 -3.10
8.33%
EBITDA Growth (%) 14.40 11.50 -1.70
Free Cash Flow Growth (%) 16.80 16.40 52.10
Book Value Growth (%) 12.90 11.80 14.50
EPS Growth (%) 18.90 16.20 -12.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AYI 1/7
Per Share Data
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
48.84 48.68 40.39 44.76 48.71 39.84 37.57 41.96 46.15 49.16 55.66 62.37 75.14 80.95 89.76 92.28 90.21 Revenue per Share
4.20 3.31 4.03 5.92 7.19 4.63 4.28 5.33 5.97 6.25 7.95 9.72 12.34 13.89 13.21 13.81 13.12 EBITDA per Share
3.20 2.39 3.36 5.21 6.38 3.77 3.43 4.39 5.02 5.29 6.94 8.67 10.91 12.16 11.25 11.59 10.82 EBIT per Share
1.56 1.17 2.34 3.37 3.56 2.00 1.80 2.42 2.72 2.95 4.05 5.09 6.63 7.43 8.52 8.29 7.75 Earnings per Share (diluted)
0.98 0.55 1.75 2.93 3.57 2.01 1.79 2.42 2.72 2.95 4.05 5.09 6.63 7.43 8.52 8.29 7.75 eps without NRI
-- -- 2.95 4.75 4.75 1.40 2.75 3.11 3.33 2.43 4.67 5.86 7.34 6.30 6.97 10.54 10.27 Owner Earnings per Share (TTM)
1.38 2.34 2.99 4.75 4.78 1.71 3.20 3.22 3.36 2.16 4.60 5.36 6.95 6.22 7.51 11.10 11.16 Free Cashflow per Share
0.60 0.60 0.60 0.60 0.54 0.52 0.52 0.52 0.52 0.52 0.52 0.52 0.52 0.52 0.52 0.52 0.52 Dividends per Share
11.22 12.05 12.59 15.91 14.32 15.84 16.49 18.25 19.96 23.38 27.15 31.41 37.95 39.78 42.93 48.64 50.28 Book Value per Share
0.18 1.63 1.76 4.74 2.59 -0.55 -0.49 -1.00 1.07 4.18 8.40 13.16 7.56 7.54 6.19 12.31 6.33 Tangible Book per Share
9.29 8.28 8.64 8.61 9.05 5.46 8.39 8.52 8.46 8.32 8.21 8.14 8.12 8.52 8.92 9.04 10.69 Total Debt per Share
19.16 24.59 35.58 43.75 43.51 32.11 38.74 46.04 64.16 85.50 124 195 275 177 153 125 103 Month End Stock Price
Ratios
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
15.17 10.24 19.66 24.39 23.77 13.61 11.44 14.28 14.34 13.72 16.15 17.60 19.26 19.35 20.67 18.18 16.47 Return on Equity %
5.09 3.73 7.38 9.67 9.80 6.29 5.70 6.80 6.98 7.00 8.64 9.71 10.86 11.00 11.87 10.73 9.86 Return on Assets %
29.57 23.39 35.08 58.69 87.92 57.93 55.47 71.69 77.74 76.92 94.40 120 117 93.48 70.55 67.96 61.53 Return on Capital %
10.64 8.90 12.45 17.89 24.27 15.82 12.68 14.06 15.60 16.05 20.27 26.19 25.08 21.24 20.94 19.23 17.73 Return on Invested Capital %
8.73 9.10 16.30 15.41 9.16 9.68 9.67 9.92 10.92 12.09 12.36 7.79 10.44 10.97 13.15 11.38 10.52 Weighted Average Cost Of Capital (WACC) %
-- -- 9.20 9.32 9.55 9.91 10.19 8.60 8.86 9.02 9.24 9.26 9.41 9.58 9.95 10.20 9.79 Effective Interest Rate on Debt %
40.43 39.05 35.46 37.88 40.25 38.32 40.66 40.65 40.75 40.09 40.91 42.32 43.64 42.26 40.36 40.29 41.07 Gross Margin %
6.55 4.91 8.28 11.32 13.60 10.89 10.21 10.51 11.44 11.01 12.49 14.36 14.89 15.37 12.67 12.65 12.25 Operating Margin %
3.19 2.40 5.79 7.54 7.32 5.12 4.89 5.88 6.01 6.10 7.34 8.21 8.84 9.18 9.50 9.00 8.61 Net Margin %
2.82 4.81 7.39 10.62 9.81 4.30 8.52 7.67 7.28 4.39 8.26 8.59 9.24 7.68 8.37 12.03 12.36 FCF Margin %
0.83 0.69 0.69 0.54 0.63 0.34 0.51 0.47 0.42 0.36 0.30 0.26 0.21 0.21 0.21 0.19 0.21 Debt to Equity
0.35 0.38 0.38 0.42 0.41 0.52 0.46 0.47 0.48 0.52 0.54 0.57 0.56 0.57 0.57 0.61 0.60 Total Equity to Total Asset
0.29 0.26 0.26 0.23 0.26 0.18 0.24 0.22 0.20 0.19 0.16 0.15 0.12 0.12 0.12 0.11 0.13 Total Debt to Total Asset
64.44 60.64 45.24 48.62 53.91 47.06 47.35 47.08 47.27 46.01 48.12 50.10 53.64 50.66 50.45 48.03 47.03 Gross Profit to Total Asset %
1.59 1.55 1.28 1.28 1.34 1.23 1.16 1.16 1.16 1.15 1.18 1.18 1.23 1.20 1.25 1.19 1.15 Asset Turnover
0.61 1.09 0.34 0.21 0.15 0.26 0.29 0.22 0.19 0.18 0.13 0.10 0.08 0.07 0.06 0.06 0.07 Dividend Payout Ratio
57.44 58.08 75.26 54.90 48.44 50.08 57.23 53.38 49.79 55.61 56.94 55.52 63.52 59.70 63.27 55.75 51.84 Days Sales Outstanding
60.01 61.14 74.83 62.92 62.03 57.95 73.73 69.80 74.13 72.77 74.17 72.74 78.90 71.25 75.02 56.39 55.73 Days Accounts Payable
59.85 60.34 65.26 53.21 44.05 51.15 54.78 53.93 57.34 57.91 53.55 51.06 51.16 56.25 61.57 62.63 66.43 Days Inventory
57.28 57.28 65.69 45.19 30.46 43.28 38.28 37.51 33.00 40.75 36.32 33.84 35.78 44.70 49.82 61.99 62.54 Cash Conversion Cycle
6.10 6.05 5.59 6.86 8.29 7.14 6.66 6.77 6.37 6.30 6.82 7.15 7.14 6.49 5.93 5.83 5.49 Inventory Turnover
0.60 0.61 0.65 0.62 0.60 0.62 0.59 0.59 0.59 0.60 0.59 0.58 0.56 0.58 0.60 0.60 0.59 COGS to Revenue
0.10 0.10 0.12 0.09 0.07 0.09 0.09 0.09 0.09 0.10 0.09 0.08 0.08 0.09 0.10 0.10 0.11 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AYI 2/7
Income Statement
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
2,104 2,173 1,841 1,965 2,027 1,657 1,627 1,796 1,934 2,089 2,394 2,707 3,291 3,505 3,680 3,673 3,575 Revenue
1,253 1,324 1,188 1,220 1,211 1,022 965 1,066 1,146 1,252 1,414 1,561 1,855 2,024 2,195 2,193 2,107 Cost of Goods Sold
851 849 653 744 816 635 662 730 788 838 979 1,146 1,436 1,481 1,485 1,480 1,468 Gross Profit
40.43 39.05 35.46 37.88 40.25 38.32 40.66 40.65 40.75 40.09 40.91 42.32 43.64 42.26 40.36 40.29 41.07 Gross Margin %
711 718 500 522 540 455 495 541 567 608 680 757 946 942 1,019 1,015 1,030 Selling, General, & Admin. Expense
1.93 23.66 -- -- -- -- 0.00 0.00 -0.00 -- 0.00 -0.00 0.00 -- 0.00 0.00 0.00 Other Operating Expense
138 107 152 222 276 181 166 189 221 230 299 389 490 539 466 465 438 Operating Income
6.55 4.91 8.28 11.32 13.60 10.89 10.21 10.51 11.44 11.01 12.49 14.36 14.89 15.37 12.67 12.65 12.25 Operating Margin %
-- -- 1.23 4.45 6.33 1.00 0.40 0.50 0.60 0.70 0.50 1.10 1.10 1.60 2.00 3.10 3.30 Interest Income
-- -- -34.24 -34.30 -34.75 -29.50 -29.80 -30.40 -31.30 -31.90 -32.60 -32.60 -33.30 -34.10 -35.50 -36.40 -36.20 Interest Expense
-- -- -33.02 -29.85 -28.42 -28.50 -29.40 -29.90 -30.70 -31.20 -32.10 -31.50 -32.20 -32.50 -33.50 -33.30 -32.90 Net Interest Income
-35.31 -31.91 -0.57 1.61 -16.73 -24.70 -17.90 -1.20 -11.60 -5.70 -1.10 -13.60 -13.40 -13.70 -7.00 -6.50 -12.50 Other Income (Expense)
103 74.83 119 194 231 127 119 158 179 193 266 344 445 493 426 425 392 Pre-Tax Income
-35.40 -22.60 -39.15 -65.50 -81.92 -42.10 -39.80 -52.10 -62.70 -65.70 -89.90 -122 -154 -171 -76.30 -94.50 -84.60 Tax Provision
34.50 30.20 32.95 33.73 35.53 33.07 33.50 33.06 35.03 34.02 33.84 35.36 34.59 34.69 17.92 22.24 21.56 Tax Rate %
67.21 52.23 79.67 129 149 85.20 79.00 106 116 127 176 222 291 322 350 330 308 Net Income (Continuing Operations)
-- -- 26.89 19.37 -0.38 -0.30 0.60 -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
67.21 52.23 107 148 148 84.90 79.60 106 116 127 176 222 291 322 350 330 308 Net Income
3.19 2.40 5.79 7.54 7.32 5.12 4.89 5.88 6.01 6.10 7.34 8.21 8.84 9.18 9.50 9.00 8.61 Net Margin %
1.60 1.21 2.43 3.48 3.65 2.04 1.84 2.46 2.75 2.97 4.07 5.13 6.67 7.46 8.54 8.32 7.78 EPS (Basic)
1.56 1.17 2.34 3.37 3.56 2.00 1.80 2.42 2.72 2.95 4.05 5.09 6.63 7.43 8.52 8.29 7.75 EPS (Diluted)
43.09 44.64 45.58 43.90 41.61 41.60 43.30 42.80 41.90 42.50 43.00 43.40 43.80 43.30 41.00 39.80 39.60 Shares Outstanding (Diluted
Average)
42.96 41.08 30.69 31.35 33.84 35.70 36.50 40.10 39.80 40.80 43.40 45.80 62.60 74.60 80.30 88.30 91.20 Depreciation, Depletion and
Amortization
181 148 184 260 299 193 185 228 250 266 342 422 541 601 542 550 520 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AYI 3/7
Balance Sheet
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
14.14 98.53 88.65 214 297 18.70 191 170 285 359 553 757 413 311 129 461 267 Cash And Cash Equivalents
14.14 98.53 88.65 214 297 18.70 191 170 285 359 553 757 413 311 129 461 267 Cash, Cash Equivalents, Marketable
Securities
331 346 380 296 269 227 255 263 264 318 373 412 573 573 638 561 508 Accounts Receivable
86.03 74.05 70.84 56.95 66.92 69.80 76.40 97.60 120 123 126 126 170 177 197 179 191 Inventories, Raw Materials &
Components
19.62 15.56 14.61 12.74 12.51 11.90 8.80 -- -- -- -- -- -- -- -- -- -- Inventories, Work In Process
-9.65 -10.84 -11.65 -9.56 -10.17 -11.20 -9.40 -10.20 -10.70 -10.50 -11.30 -14.80 -20.40 -28.70 -36.80 -22.30 -24.80 Inventories, Inventories
Adjustments
126 137 136 86.40 76.47 70.30 73.20 78.50 84.60 90.90 97.60 114 145 181 252 184 187 Inventories, Finished Goods
-- -- -- -- -- -- -- -- -0.00 -- -- -- -0.00 -- -- -- 0.00 Inventories, Other
222 216 209 147 146 141 149 166 194 203 212 225 295 329 412 341 353 Total Inventories
54.69 57.88 60.06 212 44.36 36.00 31.20 31.80 36.60 33.10 48.50 20.10 41.70 32.60 32.30 79.00 79.50 Other Current Assets
622 718 738 868 756 423 626 631 779 914 1,186 1,413 1,323 1,246 1,211 1,442 1,206 Total Current Assets
-- -- -- 12.08 5.08 -- -- 1.20 -- -- -- 8.00 8.00 -- -- -- -- Investments And Advances
13.04 12.30 12.44 9.29 9.50 7.30 7.60 8.40 7.30 7.20 7.80 6.70 23.10 22.50 22.90 22.60 22.70 Land And Improvements
168 167 167 121 126 112 114 121 116 110 116 128 174 181 189 191 194 Buildings And Improvements
376 383 397 314 335 335 338 355 346 355 376 392 448 485 517 544 558 Machinery, Furniture, Equipment
556 562 577 445 471 454 459 485 469 471 500 527 646 688 729 758 834 Gross Property, Plant and Equipment
-330 -343 -366 -283 -309 -308 -320 -342 -329 -323 -347 -352 -378 -400 -442 -480 -496 Accumulated Depreciation
226 219 211 162 162 146 138 143 139 148 153 175 268 288 287 277 339 Property, Plant and Equipment
470 468 466 472 472 695 715 798 790 816 803 790 1,329 1,350 1,469 1,433 1,737 Intangible Assets
-- -- 346 353 342 511 516 559 555 568 569 565 948 901 971 967 1,116 Goodwill
37.66 36.94 28.73 104 14.34 26.50 23.80 24.20 29.20 26.40 24.20 21.00 20.10 16.60 21.70 20.00 23.30 Other Long Term Assets
1,356 1,442 1,444 1,618 1,409 1,291 1,504 1,597 1,737 1,904 2,166 2,407 2,948 2,900 2,989 3,172 3,305 Total Assets
206 222 244 210 206 162 195 204 233 250 287 311 401 395 451 339 322 Accounts Payable
361 399 427 320 294 267 320 285 319 357 415 441 577 559 615 514 496 Accounts Payable & Accrued
Expense
5.51 0.57 0.64 -- 160 210 -- -- -- -- -- -- 0.20 0.40 0.40 9.10 25.90 Current Portion of Long-Term Debt
-0.00 -- -- 150 68.72 -- 1.10 46.20 46.10 29.20 56.00 79.80 95.20 41.80 67.00 73.20 50.50 Other Current Liabilities
367 399 428 470 523 476 321 331 365 386 471 521 673 601 683 596 573 Total Current Liabilities
390 372 371 364 204 22.00 353 353 354 354 352 352 355 357 356 348 347 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 49.40 Capital Lease Obligation
390 372 371 364 204 22.00 353 353 354 354 352 352 355 357 356 348 397 Long-Term Debt & Capital Lease
Obligation
0.83 0.69 0.69 0.54 0.63 0.34 0.51 0.47 0.42 0.36 0.30 0.26 0.21 0.21 0.21 0.19 0.21 Debt to Equity
-- -- -- 22.43 27.07 -- -- 60.90 90.10 54.70 65.10 84.10 120 96.90 64.60 99.70 98.70 PensionAndRetirementBenefit
16.77 4.71 12.97 59.77 60.19 13.00 10.20 74.40 72.10 85.80 91.00 65.80 112 148 133 134 123 NonCurrent Deferred Liabilities
105 125 89.84 29.43 19.36 107 124 20.30 22.40 30.00 24.40 23.80 28.90 31.80 35.80 75.90 127 Other Long-Term Liabilities
878 900 902 946 833 618 809 840 903 910 1,003 1,047 1,288 1,234 1,272 1,254 1,318 Total Liabilities
0.43 0.45 0.48 0.49 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 Common Stock
86.56 112 192 314 367 404 459 541 635 740 894 1,093 1,361 1,660 1,999 2,296 2,348 Retained Earnings
-34.82 -47.14 -16.49 -9.51 -22.82 -57.40 -71.30 -53.80 -84.70 -62.60 -71.90 -110 -139 -99.70 -115 -151 -148 Accumulated other comprehensive
income (loss)
426 476 561 612 626 647 662 680 703 736 762 797 856 881 906 930 943 Additional Paid-In Capital
-- -- -195 -245 -395 -322 -356 -411 -420 -420 -420 -420 -419 -776 -1,074 -1,156 -1,156 Treasury Stock
478 542 542 672 576 672 694 757 834 994 1,164 1,360 1,660 1,666 1,717 1,919 1,987 Total Equity
0.35 0.38 0.38 0.42 0.41 0.52 0.46 0.47 0.48 0.52 0.54 0.57 0.56 0.57 0.57 0.61 0.60 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AYI 4/7
Cashflow Statement
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
67.21 52.23 79.67 129 149 85.20 79.00 106 116 127 176 222 291 322 350 330 308 Net Income
67.21 52.23 79.67 129 149 85.20 79.00 106 116 127 176 222 291 322 350 330 308 Net Income From Continuing
Operations
42.96 41.08 30.69 31.35 33.84 35.70 36.50 40.10 39.80 40.80 43.40 45.80 62.60 74.60 80.30 88.30 91.20 Depreciation, Depletion and
Amortization
-33.71 -17.44 -29.64 -2.35 26.57 43.20 -29.20 2.90 -2.30 -54.80 -55.40 -46.10 -94.60 2.70 -62.80 97.70 62.00 Change In Receivables
-34.11 6.67 6.01 17.68 0.81 10.30 -8.60 -5.30 -28.60 -6.50 -9.00 -15.10 -24.00 -32.40 -74.40 70.80 84.90 Change In Inventory
-2.11 2.21 -4.62 -5.12 12.75 12.20 1.80 0.70 -2.20 1.90 -6.60 0.70 -10.50 6.00 0.70 -34.00 -22.50 Change In Prepaid Assets
40.41 14.66 18.59 0.71 -4.63 -44.40 33.50 5.50 29.60 15.20 37.60 23.10 65.30 -4.60 52.50 -112 -72.70 Change In Payables And Accrued
Expense
-7.05 34.75 21.11 53.38 36.25 -39.20 15.30 -4.50 -2.00 -48.10 6.40 14.30 10.80 -77.10 -67.70 36.60 45.00 Change In Working Capital
2.68 -2.24 2.34 2.53 2.57 -0.40 7.40 10.30 6.20 6.50 -0.20 2.80 -8.20 -7.70 -38.20 9.30 9.80 Change In DeferredTax
-- -- -- -- -- 10.20 9.00 14.20 15.90 16.50 17.70 18.20 27.70 32.00 32.30 29.20 38.10 Stock Based Compensation
7.44 11.27 -9.30 -7.25 0.51 -0.40 8.20 -4.80 -4.30 -11.10 -10.10 -14.30 -0.90 -6.90 -4.80 0.90 0.60 Cash Flow from Others
113 137 160 240 226 92.40 161 161 172 132 233 289 388 337 493 Cash Flow from Operations
352 495
-53.82 -32.64 -23.44 -31.46 -27.17 -21.20 -21.90 -23.30 -31.40 -40.60 -35.30 -56.50 -83.70 -67.30 -43.60 -53.00 -50.60 Purchase Of Property, Plant,
Equipment
4.24 3.24 4.72 1.62 0.20 0.20 0.20 1.20 0.10 7.60 1.00 1.30 2.20 5.50 -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -43.52 -3.50 -162 -22.60 -90.40 -3.80 -25.50 -- -14.60 -623 -- -163 -2.90 -302 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- -- 13.20 1.10 -- -- Sale Of Business
-- -- -- -- -- -- -- -- -- -- -- -- -- 13.20 -- -- -- Sale Of Investment
-- -- -4.93 -5.12 -0.41 -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-0.00 0.00 0.00 -0.00 0.00 -- 0.00 -- -0.00 -- -- -2.60 -- -13.40 1.70 2.90 -4.20 Cash From Other Investing Activities
-49.58 -29.40 -23.66 -78.48 -30.88 -183 -44.30 -113 -35.10 -58.50 -34.30 -72.40 -705 -48.80 -204 -53.00 -357 Cash Flow from Investing
9.66 27.11 0.27 0.74 0.51 0.27 -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -195 -44.96 -156 -- -36.10 -61.00 -9.20 -- -- -- -- -358 -298 -81.60 -81.60 Repurchase of Stock
-50.15 -23.49 -- -- -0.01 -162 109 -- -- -- -- -- 2.50 1.00 -0.40 -0.40 -0.70 Net Issuance of Debt
-25.41 -26.34 -26.85 -26.36 -22.47 -21.60 -22.60 -22.60 -22.00 -22.40 -22.50 -22.70 -22.90 -22.70 -21.40 -20.80 -20.80 Cash Flow for Dividends
-- -- 78.01 40.47 65.11 3.14 9.30 11.80 12.50 23.50 16.20 18.80 -2.40 -12.20 -6.50 -5.40 -5.50 Other Financing
-65.90 -22.72 -143 -30.11 -113 -181 59.20 -71.80 -18.70 1.10 -6.30 -3.90 -22.80 -392 -327 -108 -83.60 Cash Flow from Financing
-1.92 84.40 -6.22 133 83.42 -278 172 -20.80 114 74.60 193 204 -344 -102 -182 332 51.80 Net Change in Cash
-53.82 -32.64 -23.44 -31.46 -27.17 -21.20 -21.90 -23.30 -31.40 -40.60 -35.30 -56.50 -83.70 -67.30 -43.60 -53.00 -50.60 Capital Expenditure
59.43 104 136 209 199 71.20 139 138 141 91.70 198 232 304 269 308 442 442 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AYI 5/7
Valuation Ratios
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
12.28 21.20 15.21 12.98 12.22 16.06 21.52 19.02 23.50 29.08 30.59 38.21 41.43 23.76 17.92 15.13 13.24 PE Ratio(TTM)
-- -- 12.07 9.21 9.17 23.00 14.07 14.78 19.25 35.14 26.56 33.23 37.51 28.05 21.93 11.90 9.99 Price to Owner Earnings
(TTM)
1.71 2.04 2.83 2.75 3.04 2.03 2.35 2.52 3.21 3.66 4.56 6.21 7.25 4.44 3.56 2.58 2.04 Price to Book
106 15.05 20.22 9.23 16.83 -- -- -- 60.24 20.46 14.74 14.81 36.40 23.43 24.70 10.19 16.20 Price to Tangible Book
13.93 10.59 11.84 9.22 9.03 19.41 12.10 14.29 19.09 39.92 26.97 36.41 39.71 28.14 20.45 11.28 9.20 Price-to-Free-Cash-Flow
Ratio
7.30 8.03 10.11 8.01 7.95 14.85 10.45 12.23 15.62 27.61 22.88 29.28 31.13 22.58 17.90 10.08 8.25 Price-to-Operating-Cash-
Flow Ratio
0.39 0.50 0.88 0.98 0.89 0.81 1.03 1.10 1.39 1.74 2.23 3.12 3.66 2.18 1.70 1.36 1.14 PS Ratio
-- -- -- 3.27 0.90 1.23 4.54 -- -- 17.62 2.44 2.36 2.24 1.11 1.02 1.31 1.15 PEG Ratio
0.57 0.63 0.99 1.02 0.90 0.95 1.10 1.17 1.42 1.74 2.13 2.97 3.64 2.12 1.72 1.32 1.18 EV-to-Revenue
6.64 9.33 9.88 7.69 6.07 8.39 9.69 9.18 11.00 13.65 14.95 19.04 22.15 12.39 11.70 8.81 8.12 EV-to-EBITDA
8.72 12.93 11.86 8.75 6.85 10.36 12.07 11.14 13.08 16.12 17.13 21.36 25.06 14.14 13.74 10.50 9.85 EV-to-EBIT
11.47 7.73 8.43 11.43 14.60 9.65 8.29 8.98 7.65 6.20 5.84 4.68 3.99 7.07 7.28 9.52 10.15 Return on Capital %
-- -- -- 11.34 21.36 23.34 14.09 6.36 1.62 5.27 15.31 18.16 20.19 22.87 21.54 17.55 17.18 Forward Rate of Return
-- -- -- -- -- -- -- 20.29 26.48 32.69 43.09 60.03 75.07 43.32 32.92 23.52 18.95 Shiller PE Ratio
3.13 2.44 1.69 1.37 1.24 1.62 1.34 1.13 0.81 0.61 0.42 0.27 0.19 0.29 0.34 0.41 0.51 Dividend Yield %
Valuation and Quality
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
816 1,106 1,532 1,848 1,749 1,363 1,632 1,910 2,681 3,633 5,310 8,439 12,033 7,403 6,112 4,948 4,065 Market Cap
1,198 1,380 1,815 1,998 1,816 1,575 1,794 2,093 2,750 3,627 5,109 8,034 11,975 7,448 6,340 4,843 4,220 Enterprise Value
19.16 24.59 35.58 43.75 43.51 32.11 38.74 46.04 64.16 85.50 124 195 275 177 153 125 103 Month End Stock Price
-20.29 -17.83 -18.88 -17.33 -13.33 -14.13 -14.68 -16.15 -14.80 -12.97 -10.51 -6.70 -20.01 -22.04 -28.58 -20.09 -26.60 Net Cash (per share)
-6.02 -4.06 -3.81 -1.85 -1.92 -4.61 -4.34 -5.06 -2.96 0.08 4.28 8.46 0.79 0.28 -1.52 4.77 -2.82 Net Current Asset Value
(per share)
-11.85 -9.67 -9.84 -10.35 -6.50 -8.45 -8.37 -9.41 -7.74 -4.97 -1.50 3.02 -6.81 -7.85 -11.47 -5.10 -12.51 Net-Net Working Capital (per
share)
-- -- -- 39.41 43.99 41.15 44.27 47.53 49.85 47.45 61.12 78.67 92.16 104 121 147 146 Projected FCF (per share)
-- -- -- -- -- -- -- -- 36.60 47.76 61.20 76.42 104 121 145 149 145 Median PS (per share)
-- -- -- 29.48 48.59 26.01 -- -- -- -- 50.87 82.67 123 160 150 96.00 75.41 Peter Lynch Fair Value (per
share)
2.00 4.50 8.32 17.68 14.41 -- -- -- 8.07 16.65 27.67 38.82 33.58 35.51 34.44 47.91 33.23 Graham Number (per share)
-- -- 37.43 44.26 53.95 47.99 48.90 49.13 52.40 52.04 62.14 73.67 74.77 88.83 110 134 129 Earnings Power Value
(EPV)
2.67 2.79 3.01 3.35 3.80 3.37 3.29 3.57 4.09 4.76 5.71 7.56 8.17 6.48 5.77 5.34 4.58 Altman Z-Score
7.00 5.00 6.00 9.00 6.00 4.00 7.00 5.00 9.00 6.00 8.00 7.00 7.00 6.00 6.00 6.00 6.00 Piotroski F-Score
-2.55 -2.64 -2.42 -2.95 -2.82 -2.24 -2.56 -2.58 -2.61 -2.29 -2.51 -2.53 -2.14 -2.43 -2.35 -2.82 -2.75 Beneish M-Score
0.67 0.60 0.57 0.57 0.40 0.63 0.66 0.63 0.57 0.57 0.51 0.44 0.67 0.58 0.67 0.61 0.68 Scaled Net Operating
Assets
0.26 -3.85 -2.03 -0.84 -3.33 13.61 -2.43 3.56 -1.20 2.82 -1.06 0.23 20.61 1.17 6.76 -3.51 5.21 Sloan Ratio (%)
1.70 1.80 1.72 1.84 1.45 0.89 1.95 1.90 2.14 2.37 2.52 2.71 1.97 2.07 1.77 2.42 2.11 Current Ratio
1.09 1.26 1.24 1.53 1.17 0.59 1.49 1.40 1.60 1.84 2.07 2.28 1.53 1.53 1.17 1.85 1.49 Quick Ratio
23.16 26.48 37.08 54.15 53.50 45.12 47.56 60.96 64.98 88.34 144 211 279 274 186 165 147 Highest Stock Price
14.76 19.14 22.54 35.88 34.55 20.23 30.98 39.25 33.97 59.86 84.43 118 170 163 110 106 96.18 Lowest Stock Price
-2.21 -5.59 4.26 1.89 4.84 -5.55 0.75 1.49 -0.72 -1.67 -0.88 -1.03 -1.00 4.26 4.49 1.34 0.85 Shares Buyback Ratio (%)
-0.58 -0.33 -17.02 10.81 8.82 -18.20 -5.69 11.67 10.00 6.51 13.24 12.04 20.49 7.73 10.88 2.81 -3.08 YoY Rev. per Sh. Growth
(%)
35.65 -25.00 100.00 44.02 5.64 -43.82 -10.00 34.44 12.40 8.46 37.29 25.68 30.26 12.07 14.67 -2.70 -12.03 YoY EPS Growth (%)
12.04 -21.13 21.78 46.80 21.46 -35.64 -7.61 24.65 12.01 4.77 27.07 22.36 26.90 12.54 -4.86 4.52 -1.69 YoY EBITDA Growth (%)
-- -- -- 4.57 13.61 12.94 4.77 -1.75 -3.91 1.65 12.56 16.21 18.52 21.46 17.56 11.58 11.50 EBITDA 5-Y Growth (%)
42.01 43.16 43.88 42.59 40.66 40.80 42.50 42.20 41.40 42.20 42.80 43.10 43.50 43.10 40.90 39.70 39.50 Shares Outstanding (Basic
Average)
42.60 44.98 43.06 42.25 40.20 42.43 42.12 41.49 41.79 42.49 42.86 43.31 43.74 41.87 39.99 39.45 39.62 Shares Outstanding (EOP)
-- 1.41 2.61 2.33 1.21 1.26 1.29 1.36 1.64 1.65 1.74 0.94 1.50 1.51 1.77 1.68 1.60 Beta
10/29/04 11/01/05 11/02/06 10/30/07 10/27/08 10/30/09 10/29/10 10/28/11 10/26/12 10/29/13 10/29/14 10/27/15 10/27/16 10/26/17 10/25/18 10/29/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AYI 6/7
11/01/05 11/02/06 10/27/08 10/27/08 10/27/08 10/29/10 10/26/12 10/29/13 10/29/14 10/27/15 10/27/16 10/26/17 10/25/18 10/29/19 10/29/19 10/29/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AYI 7/7
Chubb Ltd (NYSE:CB) 03/02/2020 4:10PM EST GuruFocus
Price: $ 151.81 +6.78(+4.67%) Market Cap: $ 68.6 B Enterprise Value: $77.89 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 15.65
Cash to Debt No Debt Net-margin (%) 13.03
Forward P/E N/A
Equity to Asset 0.31 ROE (%) 8.36
F-Score: PE(NRI) 15.65
ROA (%) 2.57
9999 P/B 1.24
M-Score: Revenue Growth (3Y)(%) 6.70
-2.54 P/S 2.11
EBITDA Growth (3Y)(%) 1.80
WACC vs 3.13% PFCF 10.76
ROIC 8.21% EPS Growth (3Y)(%) -0.50
WACC POCF 10.76
ROIC
EV-to-EBIT 13.43
Shiller P/E 16.44
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year ACE acquired Chubb in the first quarter of 2016 and assumed the Chubb name. The combination makes the new
Chubb one of the largest domestic property and casualty insurers, with operations in 54 countries spanning
slow down 2016 6,877 7,897 8,527 8,168 31,469 commercial and personal P&C insurance, reinsurance, and life insurance.... (Read More)
2017 7,510 8,108 8,610 8,015 32,243 Competitors: NYSE:PGR, HKSE:01339 , NYSE:ALL , TSE:8766 , NYSE:TRV, HKSE:02328 , TSE:8725 ,
Dividend Yield %: Close to 5-
2018 7,831 8,510 8,750 7,626 32,717 NYSE:MKL, NAS:CINF, TSX:IFC, NYSE:L, NYSE:WRB, TSE:8630, TSX:FFH, ASX:QBE, NYSE:CNA, NYSE:Y,
year low ASX:SUN, ASX:IAG, NYSE:AFG
2019 7,876 8,527 9,045 8,738 34,186
Price: Close to 10-year high 2020 Insider Trades
PS Ratio: Close to 10-year Quarterly Earnings per Share
high Mar Jun Sep Dec Full Year
Insider Sell: Insider Selling 2016 0.97 1.54 2.88 3.41 8.80
2017 2.31 2.77 -0.15 3.27 8.20
2018 2.30 2.76 2.64 0.76 8.46
Good Signs 2019 2.25 2.50 2.38 2.57 9.70
PE Ratio: Close to 1-year low 2020
PB Ratio: Close to 3-year low Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.67 0.69 0.69 0.69 2.74
2017 0.69 0.71 0.71 0.71 2.82
GuruFocus does not 2018 0.71 0.73 0.73 0.73 2.90
calculate intrinsic value: DCF 2019 0.73 0.75 0.75 0.75 2.98
(Earnings Based) for 2020
companies with one star
predictability or not rated. But Growth Rate
you can go to each stock's Annual Rates(per share) 10-Y 5-Y 12-M
DCF page to calculate
Revenue Growth (%) 5.50 5.40 1.60
yourself.
EBITDA Growth (%) 5.70 -2.00 -13.70
Free Cash Flow Growth (%) 0.30 -2.80 32.30
Reverse DCF
Book Value Growth (%) 8.50 6.00 8.90
GuruFocus does not
calculate reverse DCF growth EPS Growth (%) 5.60 -3.70 -28.10
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CB 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
41.46 42.14 39.96 42.06 40.74 44.66 46.91 49.40 52.33 55.97 56.55 57.74 67.54 68.43 70.09 74.50 74.50 Revenue per Share
5.82 5.04 9.02 9.91 5.37 9.78 11.40 6.81 9.56 13.39 11.43 11.46 15.31 9.74 12.08 13.31 13.31 EBITDA per Share
5.46 4.75 8.99 9.89 5.37 9.78 11.40 6.73 9.41 13.11 11.11 10.94 11.92 9.19 11.35 12.64 12.64 EBIT per Share
3.88 3.31 6.91 7.66 3.50 7.55 9.11 4.52 7.89 10.92 8.42 8.62 8.87 8.19 8.49 9.71 9.70 Earnings per Share (diluted)
3.88 3.31 6.90 7.66 3.50 7.55 9.11 4.52 7.89 10.92 8.42 8.62 8.87 8.19 8.49 9.71 9.70 eps without NRI
16.62 13.87 12.31 13.97 12.26 9.88 10.39 10.18 11.66 11.69 13.26 11.75 11.36 9.56 11.74 -- -- Free Cashflow per Share
0.82 0.90 0.98 1.06 1.09 1.19 1.30 1.03 2.41 1.51 3.21 2.66 2.74 2.82 2.90 2.98 2.98 Dividends per Share
34.60 36.53 43.73 50.58 43.30 58.21 68.59 72.22 80.90 84.83 90.02 89.77 104 110 110 122 122 Book Value per Share
25.11 28.17 35.37 41.97 32.07 46.58 54.67 55.97 64.47 67.35 71.19 71.04 55.42 62.07 62.29 75.16 75.16 Tangible Book per Share
7.01 6.53 6.55 6.62 9.82 9.82 13.91 14.60 14.90 17.71 14.65 29.87 28.80 27.76 28.10 -- -- Total Debt per Share
42.75 53.44 60.57 61.78 52.92 50.40 62.25 70.12 79.80 104 115 117 132 146 129 -- 152 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.35 9.49 17.67 16.66 7.69 14.94 14.58 6.51 10.44 13.34 9.77 9.65 10.68 7.76 7.81 8.43 8.36 Return on Equity %
2.19 1.73 3.56 3.70 1.66 3.40 3.85 1.80 3.01 4.02 2.96 2.83 3.16 2.36 2.37 2.58 2.57 Return on Assets %
13.15 11.84 19.95 18.69 9.39 16.02 14.49 6.75 10.46 12.86 9.64 10.65 11.01 7.65 7.59 8.73 8.21 Return on Invested Capital %
7.67 9.30 8.16 7.91 4.60 6.00 5.83 6.75 5.06 6.63 5.47 6.27 5.37 4.65 4.25 -- 3.13 Weighted Average Cost Of Capital (WACC) %
8.38 8.48 8.28 8.10 8.42 6.82 5.62 5.22 5.01 4.96 5.17 4.13 5.23 4.62 4.97 8.56 4.18 Effective Interest Rate on Debt %
9.36 7.85 17.29 18.21 8.78 16.91 19.42 9.15 15.09 19.51 14.88 14.93 13.14 11.97 12.11 13.03 13.03 Net Margin %
40.09 32.92 30.80 33.21 30.08 22.12 22.15 20.61 22.27 20.88 23.45 20.35 16.82 13.97 16.75 -- -- FCF Margin %
0.20 0.18 0.15 0.13 0.23 0.17 0.20 0.20 0.18 0.21 0.16 0.33 0.28 0.25 0.26 -- -- Debt to Equity
0.18 0.19 0.21 0.23 0.20 0.25 0.28 0.28 0.30 0.31 0.30 0.29 0.30 0.31 0.30 0.31 0.31 Total Equity to Total Asset
0.04 0.03 0.03 0.03 0.05 0.04 0.06 0.06 0.06 0.06 0.05 0.10 0.08 0.08 0.08 -- -- Total Debt to Total Asset
23.36 22.07 20.57 20.33 18.91 20.10 19.84 19.73 19.94 20.59 19.89 18.93 24.01 19.73 19.54 19.83 19.74 Gross Profit to Total Asset %
0.23 0.22 0.21 0.20 0.19 0.20 0.20 0.20 0.20 0.21 0.20 0.19 0.24 0.20 0.20 0.20 0.20 Asset Turnover
0.21 0.27 0.14 0.14 0.31 0.16 0.14 0.23 0.31 0.14 0.38 0.31 0.31 0.34 0.34 0.31 0.31 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CB 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12,320 13,088 13,328 14,154 13,632 15,075 16,006 16,834 17,936 19,261 19,171 18,987 31,469 32,243 32,717 34,186 34,186 Revenue
12,320 13,088 13,328 14,154 13,632 15,075 16,006 16,834 17,936 19,261 19,171 18,987 31,469 32,243 32,717 34,186 34,186 Gross Profit
1,265 1,261 1,456 1,455 1,737 1,811 1,858 2,068 2,096 2,211 2,245 2,270 3,081 2,833 2,886 3,030 3,030 Selling, General, & Admin. Expense
11,055 11,827 11,872 12,699 11,895 13,264 14,148 14,766 15,840 17,050 16,926 16,717 28,388 29,410 29,831 31,156 31,156 Other Operating Expense
-183 -174 -176 -175 -230 -225 -224 -250 -250 -275 -280 -300 -605 -607 -641 -552 -552 Interest Expense
-183 -174 -176 -175 -230 -225 -224 -250 -250 -275 -280 -300 -605 -607 -641 -552 -552 Net Interest Income
1,439 1,301 2,823 3,153 1,567 3,077 3,667 2,042 2,976 4,238 3,487 3,296 4,950 3,722 4,657 5,249 5,249 Other Income (Expense)
1,439 1,301 2,823 3,153 1,567 3,077 3,667 2,042 2,976 4,238 3,487 3,296 4,950 3,722 4,657 5,249 5,249 Pre-Tax Income
-286 -273 -522 -575 -370 -528 -559 -502 -270 -480 -634 -462 -815 139 -695 -795 -795 Tax Provision
19.87 20.98 18.49 18.24 23.61 17.16 15.24 24.58 9.07 11.33 18.18 14.02 16.46 -3.73 14.92 15.15 15.15 Tax Rate %
1,153 1,028 2,301 2,578 1,197 2,549 3,108 1,540 2,706 3,758 2,853 2,834 4,135 3,861 3,962 4,454 4,454 Net Income (Continuing Operations)
1,153 1,028 2,305 2,578 1,197 2,549 3,108 1,540 2,706 3,758 2,853 2,834 4,135 3,861 3,962 4,454 4,454 Net Income
9.36 7.85 17.29 18.21 8.78 16.91 19.42 9.15 15.09 19.51 14.88 14.93 13.14 11.97 12.11 13.03 13.03 Net Margin %
3.95 3.36 7.02 7.79 3.52 7.57 9.15 4.55 7.96 11.02 8.50 8.71 8.94 8.26 8.55 9.85 9.79 EPS (Basic)
3.88 3.31 6.91 7.66 3.50 7.55 9.11 4.52 7.89 10.92 8.42 8.62 8.87 8.19 8.49 9.71 9.70 EPS (Diluted)
297 311 334 337 335 338 341 341 343 344 339 329 466 471 467 459 456 Shares Outstanding (Diluted
Average)
107 90.00 10.00 6.00 -- -- -- 29.00 51.00 95.00 108 171 1,578 260 339 305 305 Depreciation, Depletion and
Amortization
1,729 1,565 3,009 3,334 1,797 3,302 3,891 2,321 3,277 4,608 3,875 3,767 7,133 4,589 5,637 6,106 6,106 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CB 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
498 512 565 510 867 669 772 614 615 579 655 1,775 985 728 1,247 1,537 1,537 Cash And Cash Equivalents
2,769 2,299 2,456 2,631 3,350 1,667 1,983 2,301 2,228 1,763 2,322 10,446 3,002 3,561 3,016 -- -- Marketable Securities
3,267 2,811 3,021 3,141 4,217 2,336 2,755 2,915 2,843 2,342 2,977 12,221 3,987 4,289 4,263 1,537 1,537 Cash, Cash Equivalents,
Marketable Securities
18,333 18,806 18,160 3,540 3,453 3,671 4,233 17,025 16,466 16,471 17,635 16,896 22,729 24,552 26,270 25,538 25,538 Accounts Receivable
21,600 21,617 21,181 6,681 7,670 6,007 6,988 19,940 19,309 18,813 20,612 29,117 26,716 28,841 30,533 27,075 27,075 Total Current Assets
25,866 29,444 33,585 41,412 39,185 45,573 49,715 53,714 58,002 58,422 60,062 63,613 95,241 98,434 96,369 -- -- Investments And Advances
2,700 2,703 2,731 2,838 3,747 3,931 4,664 5,475 5,589 5,940 6,190 6,078 22,450 22,380 21,709 21,359 21,359 Intangible Assets
2,700 2,703 2,731 -- -- -- -- -- -- -- -- 4,796 15,332 15,541 15,271 -- -- Goodwill
6,017 8,676 9,638 21,159 21,455 22,469 21,988 8,192 9,645 11,335 11,384 3,498 15,379 17,367 19,160 128,509 128,509 Other Long Term Assets
56,183 62,440 67,135 72,090 72,057 77,980 83,355 87,321 92,545 94,510 98,248 102,306 159,786 167,022 167,771 176,943 176,943 Total Assets
5,411 6,050 7,447 2,843 2,841 3,295 3,282 8,440 8,869 8,438 9,821 10,475 14,254 15,413 16,909 -- -- Accounts Payable
-- 174 156 111 138 111 116 159 -- -- -- -- -- -- -- -- -- Total Tax Payable
5,471 6,224 7,603 6,577 6,354 5,909 6,648 9,984 10,664 10,071 11,152 11,522 15,347 17,150 18,835 -- -- Accounts Payable & Accrued
Expense
146 300 578 372 471 161 1,300 1,251 1,401 1,901 1,150 -- 500 1,013 509 -- -- Current Portion of Long-Term Debt
5,617 6,524 8,181 6,949 6,825 6,070 7,948 11,235 12,065 11,972 12,302 11,522 15,847 18,163 19,344 -- -- Total Current Liabilities
1,849 1,811 1,560 1,811 2,806 3,158 3,358 3,669 3,669 4,116 3,666 9,696 12,918 11,864 12,395 -- -- Long-Term Debt
1,849 1,811 1,560 1,811 2,806 3,158 3,358 3,669 3,669 4,116 3,666 9,696 12,918 11,864 12,395 -- -- Long-Term Debt & Capital Lease
Obligation
0.20 0.18 0.15 0.13 0.23 0.17 0.20 0.20 0.18 0.21 0.16 0.33 0.28 0.25 0.26 -- -- Debt to Equity
-- -- -- -- -- -- -- -- -- -- -- -- 988 699 304 -- -- NonCurrent Deferred Liabilities
38,872 42,293 43,116 46,653 47,980 49,085 49,075 48,085 49,280 49,597 52,693 51,953 81,758 85,124 85,416 121,612 121,612 Other Long-Term Liabilities
46,338 50,628 52,857 55,413 57,611 58,313 60,381 62,989 65,014 65,685 68,661 73,171 111,511 115,850 117,459 121,612 121,612 Total Liabilities
12.00 13.00 14.00 14.00 10,827 10,503 10,161 10,095 9,591 8,899 8,055 7,833 11,121 11,121 11,121 -- -- Common Stock
2.00 2.00 2.00 2.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Preferred Stock
4,249 4,965 6,906 9,080 74.00 2,818 5,926 7,327 10,033 13,791 16,644 19,478 23,613 27,474 31,700 -- -- Retained Earnings
734 332 716 769 -1,916 823 1,594 1,911 2,887 1,152 1,191 -735 -314 543 -2,448 -- -- Accumulated other comprehensive
income (loss)
4,905 6,569 6,640 6,812 5,464 5,526 5,623 5,326 5,179 5,238 5,145 4,481 15,335 13,978 12,557 -- -- Additional Paid-In Capital
-- -- -- -- -3.00 -3.00 -330 -327 -159 -255 -1,448 -1,922 -1,480 -1,944 -2,618 -- -- Treasury Stock
9,845 11,812 14,278 16,677 14,446 19,667 22,974 24,332 27,531 28,825 29,587 29,135 48,275 51,172 50,312 55,331 55,331 Total Equity
0.18 0.19 0.21 0.23 0.20 0.25 0.28 0.28 0.30 0.31 0.30 0.29 0.30 0.31 0.30 0.31 0.31 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CB 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,153 1,028 2,305 2,578 1,197 2,549 3,108 1,540 2,706 3,758 2,853 2,834 4,135 3,861 3,962 4,454 4,454 Net Income
1,153 1,028 2,305 2,578 1,197 2,549 3,108 1,540 2,706 3,758 2,853 2,834 4,135 3,861 3,962 4,454 4,454 Net Income From Continuing
Operations
107 90.00 10.00 6.00 -- -- -- 29.00 51.00 95.00 108 171 1,578 260 339 305 305 Depreciation, Depletion and
Amortization
-922 -1,367 766 155 -6.00 -119 -- 339 759 186 -346 198 -974 -1,491 -2,146 -- -798 Change In Receivables
-338 -53.00 -251 35.00 -15.00 24.00 -13.00 -34.00 -123 -31.00 -89.00 -212 18.00 -82.00 -- -- -- Change In Prepaid Assets
1,426 201 107 468 658 241 -32.00 294 -360 168 492 299 898 -611 1,258 -- 637 Change In Payables And Accrued
Expense
4,178 -1,226 622 2,043 1,603 771 437 607 819 48.00 654 26.00 -1,685 199 270 -- 1,102 Change In Working Capital
-10.00 -15.00 57.00 25.00 -141 -19.00 116 15.00 -7.00 240 145 113 96.00 -527 16.00 -- -208 Change In DeferredTax
-489 4,431 1,111 49.00 1,442 34.00 -115 1,279 426 -119 736 720 1,168 710 893 -- 1,651 Cash Flow from Others
4,939 4,308 4,105 4,701 4,101 3,335 3,546 3,470 3,995 4,022 4,496 3,864 5,292 4,503 5,480 -- 6,496 Cash Flow from Operations
-- -- -- -- -2,521 -- -1,139 -606 -- -- -- -- -553 -648 -1,337 -- -1,318 Purchase Of Business
959 7.00 -- -- -- -- -- -- -- -- -- -- 958 1,084 980 -- 1,210 Sale Of Business
-26,475 -32,963 -42,609 -49,387 -44,843 -38,086 -32,666 -25,294 -24,765 -22,580 -16,904 -24,528 -31,411 -27,074 -25,382 -- -29,054 Purchase Of Investment
20,848 32,975 38,818 45,276 43,816 34,855 30,066 23,346 21,979 19,508 15,440 18,233 40,334 24,746 23,337 -- 25,921 Sale Of Investment
-198 -5,612 21.00 -419 -576 7.00 -442 -482 -653 -1,370 -1,040 1.00 -14,650 -530 -533 -- -1,128 Cash From Other Investing Activities
-4,866 -5,593 -3,770 -4,530 -4,124 -3,224 -4,181 -3,036 -3,439 -4,442 -2,504 -6,294 -5,322 -2,422 -2,935 -- -4,369 Cash Flow from Investing
91.00 1,613 75.00 9.00 10.00 10.00 10.00 -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -- -- -- -235 -195 -11.00 -287 -1,429 -758 -- -801 -1,044 -- -1,515 Repurchase of Stock
-- -- -- -- -575 -- -- -- -- -- -- -- -- -- -- -- -- Net Issuance of Preferred Stock
100.00 116 -2.00 35.00 1,156 34.00 1,340 -50.00 150 947 198 4,940 -- -501 170 -- 785 Net Issuance of Debt
-271 -298 -357 -386 -386 -388 -435 -459 -815 -517 -862 -862 -1,173 -1,308 -1,337 -- -1,350 Cash Flow for Dividends
-75.00 -103 -- 89.00 109 23.00 62.00 139 126 248 316 375 431 291 220 -- 389 Other Financing
-155 1,328 -284 -253 314 -321 732 -565 -550 391 -1,777 3,695 -742 -2,319 -1,991 -- -1,691 Cash Flow from Financing
-61.00 14.00 53.00 -55.00 357 -198 103 -158 1.00 -36.00 76.00 1,120 -797 -237 489 -- 432 Net Change in Cash
4,939 4,308 4,105 4,701 4,101 3,335 3,546 3,470 3,995 4,022 4,496 3,864 5,292 4,503 5,480 -- -- Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CB 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.05 16.15 8.78 8.07 15.16 6.68 6.84 15.51 10.13 9.48 13.66 13.56 15.01 17.82 15.27 -- 15.65 PE Ratio(TTM)
1.24 1.46 1.39 1.22 1.22 0.87 0.91 0.97 0.99 1.22 1.28 1.30 1.28 1.32 1.18 -- 1.24 Price to Book
1.70 1.90 1.71 1.47 1.65 1.08 1.14 1.25 1.24 1.54 1.61 1.64 2.38 2.35 2.07 -- 2.02 Price to Tangible Book
2.54 3.62 4.93 4.41 4.32 5.11 5.99 6.87 6.85 8.86 8.65 9.95 11.66 15.23 10.99 -- 10.76 Price-to-Free-Cash-Flow
Ratio
2.54 3.62 4.93 4.41 4.32 5.11 5.99 6.87 6.85 8.86 8.65 9.95 11.66 15.23 10.99 -- 10.76 Price-to-Operating-Cash-
Flow Ratio
1.02 1.20 1.52 1.47 1.30 1.13 1.33 1.42 1.53 1.85 2.03 2.02 1.96 2.13 1.84 -- 2.11 PS Ratio
-- 1.00 0.14 0.09 0.30 0.89 0.70 -- 2.29 0.82 2.82 1.77 1.63 4.95 -- -- -- PEG Ratio
0.88 1.27 1.42 1.37 1.23 1.19 1.42 1.52 1.64 2.02 2.07 1.86 2.26 2.37 2.08 -- 2.28 EV-to-Revenue
6.72 11.24 6.30 5.83 9.30 5.45 5.85 11.18 8.97 8.43 10.22 9.40 9.95 16.64 12.06 -- 12.76 EV-to-EBITDA
6.72 11.24 6.30 5.83 9.30 5.45 5.85 11.18 9.11 8.61 10.51 9.84 12.78 17.64 12.83 -- 13.43 EV-to-EBIT
14.88 8.90 15.87 17.15 10.75 18.35 17.09 8.94 10.98 11.61 9.51 10.16 7.82 5.67 7.79 -- 7.45 Return on Capital %
-0.42 37.91 41.92 43.34 47.27 32.46 28.55 15.81 17.95 21.97 14.83 17.58 18.04 11.48 7.86 -- 7.23 Forward Rate of Return
16.08 19.57 19.19 16.64 14.42 11.77 12.51 12.38 12.24 14.65 15.48 14.71 16.21 17.60 14.50 -- 16.44 Shiller PE Ratio
1.92 1.68 1.62 1.72 2.06 2.36 2.09 1.47 3.02 1.46 2.79 2.28 2.07 1.93 2.24 1.91 1.96 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Market Cap
12,161 17,278 19,773 20,369 17,655 17,027 20,850 23,625 27,158 35,179 37,756 37,925 61,564 67,780 59,320 -- 68,604
10,891 16,580 18,892 19,413 16,715 18,010 22,753 25,630 29,385 38,854 39,595 35,400 70,995 76,368 67,961 -- 77,894 Enterprise Value
42.75 53.44 60.57 61.78 52.92 50.40 62.25 70.12 79.80 104 115 117 132 146 129 -- 152 Month End Stock Price
-151 -148 -153 -159 -160 -166 -172 -178 -183 -186 -200 -188 -231 -241 -247 -266 -266 Net Cash (per share)
-103 -104 -111 -151 -152 -158 -163 -140 -146 -150 -160 -149 -194 -201 -204 -223 -223 Net-Net Working Capital (per
share)
129 141 159 159 159 166 165 166 176 211 193 198 196 175 182 -- -- Projected FCF (per share)
67.98 68.53 57.32 58.20 52.75 54.78 56.55 59.74 65.11 72.69 78.11 82.91 100 112 124 -- 132 Median PS (per share)
53.17 53.29 172 192 87.25 56.47 89.45 50.29 46.45 126 -- 66.12 81.22 -- -- -- -- Peter Lynch Fair Value (per
share)
46.82 45.80 74.10 85.05 50.25 88.95 106 75.44 107 129 116 117 105 107 109 128 128 Graham Number (per share)
-72.71 -78.40 -106 -153 68.66 73.00 80.04 71.03 71.66 85.42 94.63 109 -- -- -- -- -- Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 -- 9,999 Piotroski F-Score
-2.74 -2.74 -2.74 -2.74 -2.74 -2.74 -2.74 -2.74 -2.87 -2.48 -2.49 -2.70 -1.96 -2.41 -2.48 -- -2.54 Beneish M-Score
0.23 0.24 0.25 0.27 0.23 0.31 0.34 0.34 0.37 0.37 0.36 0.38 0.59 0.40 0.37 0.32 0.31 Scaled Net Operating
Assets
1.92 3.70 2.93 3.34 1.69 3.13 4.49 1.27 2.32 4.42 0.88 5.15 2.61 1.07 0.84 2.52 1.75 Sloan Ratio (%)
45.74 56.57 61.16 63.97 66.00 55.14 62.37 72.86 81.70 104 118 119 133 155 156 -- 168 Highest Stock Price
33.15 38.70 48.18 53.22 37.97 31.84 47.50 58.98 68.98 79.80 92.19 99.72 108 128 120 -- 132 Lowest Stock Price
-1.64 -13.65 -0.97 -1.00 -1.19 -1.27 0.86 -0.59 -1.01 0.16 3.28 1.25 -43.57 0.46 1.00 1.57 1.57 Shares Buyback Ratio (%)
9.49 1.65 -5.19 5.26 -3.13 9.63 5.02 5.31 5.94 6.95 1.05 2.10 16.97 1.32 2.43 6.29 6.30 YoY Rev. per Sh. Growth
(%)
-26.10 -14.69 109 10.85 -54.31 116 20.66 -50.38 74.56 38.40 -22.89 2.38 2.90 -7.67 3.66 14.32 14.69 YoY EPS Growth (%)
510 -13.39 79.00 9.82 -45.79 82.18 16.55 -40.26 40.38 40.05 -14.63 0.22 33.63 -36.38 24.00 10.19 10.30 YoY EBITDA Growth (%)
-19.99 16.10 64.39 92.31 50.77 7.48 9.83 -0.25 4.42 11.54 4.85 7.67 9.23 3.60 -1.20 -- -2.00 EBITDA 5-Y Growth (%)
292 306 328 330 333 337 340 338 340 341 336 326 463 467 464 452 452 Shares Outstanding (Basic
Average)
284 323 326 330 334 338 335 337 340 340 329 325 466 464 459 452 452 Shares Outstanding (EOP)
0.92 1.27 0.96 0.83 0.37 0.70 0.69 1.06 0.79 0.95 0.89 1.13 0.93 0.81 0.74 0.59 0.59 Beta
03/16/05 03/16/06 03/01/07 02/29/08 02/27/09 02/25/10 02/25/11 02/24/12 02/28/13 02/28/14 02/27/15 02/26/16 02/28/17 02/23/18 02/28/19 02/04/20 Filing Date
03/16/06 03/01/07 02/29/08 02/27/09 02/25/11 02/25/11 02/24/12 02/28/14 02/27/15 02/26/16 02/28/17 02/23/18 02/28/19 02/28/19 02/28/19 02/04/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CB 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CB 7/7
General Dynamics Corp (NYSE:GD) 03/02/2020 4:10PM EST GuruFocus
Price: $ 165.03 +5.34(+3.34%) Market Cap: $ 47.8 B Enterprise Value: $60.33 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 13.78
Cash to Debt 0.07 Operating margin (%) 11.81
Forward P/E N/A
Equity to Asset 0.28 Net-margin (%) 8.85
PE(NRI) 13.78
Interest Coverage 10.10 ROE (%) 27.25
F-Score:
P/B 3.52
ROA (%) 7.30
4 P/S 1.22
Z-Score: ROC (Joel Greenblatt) (%) 112.27
2.91 PFCF 24.07
Revenue Growth (3Y)(%) 11.20
M-Score: POCF 16.10
-2.45 EBITDA Growth (3Y)(%) 11.80
EV-to-EBIT 12.91
WACC vs 8.00% EPS Growth (3Y)(%) 11.50
ROIC 14.72% PEG 1.82
WACC
ROIC Shiller P/E 19.87
Current Ratio 1.18
Quick Ratio 0.80
Days Inventory 71.26
Days Sales Outstanding 32.87
Warning Signs Quarterly Revenues Company Description
Long-Term Debt: Issuing new Mar Jun Sep Dec Full Year Falls Church, Virginia-based General Dynamics manufactures submarines, armored vehicles, information technology
systems, and business jets. It operates its businesses in decentralized manner, and following the acquisition of CSRA,
debt 2016 7,476 7,774 7,657 7,654 30,561 which closed during the second quarter of 2018, General Dynamics operates five segments: aerospace (23% of
2017 7,441 7,675 7,580 8,277 30,973 sales), combat systems (17%), marine systems (23%), information technology (23%), and mission systems (13%). The
Insider Sell: Insider Selling firm generated $36.2 billion in 2018 sales.... (Read More)
2018 7,535 9,186 9,094 10,378 36,193
Competitors: NYSE:LHX, NYSE:NOC, NYSE:RTN, XPAR:SAF, NYSE:TDG, LSE:BA., XPAR:HO, NYSE:LLL ,
2019 9,261 9,555 9,761 10,773 39,350 LSE:RR., SHSE:601989, NYSE:HEI, XTER:MTX, NYSE:TXT, XPAR:AM, NYSE:HII, SGX:S63, SHSE:600893,
Good Signs 2020 TSX:CAE, NAS:WWD, XTAE:ESLT
Revenue per Share: Quarterly Earnings per Share Insider Trades
Consistent growth Mar Jun Sep Dec Full Year
Dividend Yield %: Close to 5- 2016 2.04 2.30 2.09 2.58 9.01
year high 2017 2.48 2.45 2.52 2.10 9.55
2018 2.65 2.62 2.85 3.07 11.19
PE Ratio: Close to 5-year low 2019 2.56 2.77 3.14 3.51 11.98
PB Ratio: Close to 5-year low 2020
PS Ratio: Close to 5-year low Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.76 0.76 0.76 0.76 3.04
2017 0.84 0.84 0.84 0.00 2.52
EPS without NRI: $11.98 2018 0.84 1.86 0.93 0.00 3.63
Growth Rate in the next 10 2019 0.93 1.02 1.02 1.02 3.99
years: 5% 2020
Terminal Growth Rate for 10
years: 4% Growth Rate
Fair Value: $128.21 Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 4.30 8.00 11.80
Reverse DCF EBITDA Growth (%) 7.50 7.60 8.40
Expected eps Growth Rate: Free Cash Flow Growth (%) 1.90 -0.60 -16.60
8.94% Book Value Growth (%) 2.30 5.90 15.40
EPS Growth (%) 0.00 8.30 6.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GD 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
47.45 51.81 59.15 66.74 73.48 82.44 84.28 88.91 87.71 87.50 90.39 97.29 98.46 102 121 135 135 Revenue per Share
5.99 6.59 7.54 8.82 10.49 10.95 11.75 12.15 3.48 11.99 12.89 14.69 13.56 15.22 17.46 18.92 18.92 EBITDA per Share
5.19 5.78 6.60 7.79 9.37 9.50 10.27 10.54 1.81 10.51 11.44 13.22 12.10 13.77 14.91 16.07 16.07 EBIT per Share
3.05 3.61 4.56 5.08 6.17 6.17 6.81 6.87 -0.94 6.67 7.42 9.29 8.29 9.56 11.18 11.98 11.98 Earnings per Share (diluted)
2.99 3.58 4.20 5.10 6.22 6.20 6.82 6.94 -1.08 7.03 7.83 9.29 8.64 9.56 11.22 11.98 11.98 eps without NRI
3.85 4.60 4.62 6.65 7.55 5.88 6.64 8.01 -0.02 6.83 10.18 6.28 5.94 10.34 9.60 7.89 7.89 Owner Earnings per Share (TTM)
3.81 4.43 4.41 6.01 6.57 6.33 6.79 7.56 6.14 7.57 9.69 6.24 5.71 11.32 8.22 6.86 6.86 Free Cashflow per Share
0.70 0.78 0.89 1.10 1.34 1.49 1.64 1.83 2.51 1.68 2.42 2.69 2.97 3.28 3.63 3.99 3.99 Dividends per Share
17.88 20.34 24.22 29.13 26.04 32.21 35.79 37.12 31.96 41.03 35.61 34.31 34.06 38.52 40.64 46.88 46.88 Book Value per Share
-0.47 1.40 0.25 4.59 -7.71 -5.04 -3.56 -6.05 -5.73 4.32 -2.45 -4.69 -6.03 -3.98 -36.19 -29.06 -29.06 Tangible Book per Share
8.20 8.21 6.85 6.91 10.42 10.02 8.61 10.96 10.96 11.06 11.72 10.86 12.86 13.41 43.01 46.38 46.38 Total Debt per Share
52.30 57.03 74.35 88.99 57.59 68.17 70.96 66.41 69.27 95.55 138 137 173 203 157 176 165 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
18.72 19.06 20.65 19.19 22.54 21.30 20.39 19.03 -2.70 18.21 19.24 26.91 24.45 26.79 28.88 27.53 27.25 Return on Equity %
7.28 7.85 8.82 8.61 9.09 8.05 8.25 7.49 -0.96 6.75 7.15 9.02 7.89 8.54 8.32 7.39 7.30 Return on Assets %
68.83 82.42 104 106 105 92.28 94.53 86.09 14.10 90.66 107 127 108 120 119 111 112 Return on Capital %
14.08 16.39 17.67 18.75 20.82 19.02 19.59 18.50 -16.78 20.23 22.37 27.25 23.64 24.91 20.57 15.64 14.72 Return on Invested Capital %
7.13 11.76 7.10 7.93 9.24 10.45 10.05 8.62 8.43 8.32 5.78 6.66 6.89 6.82 8.97 8.74 8.00 Weighted Average Cost Of Capital (WACC) %
8.31 8.26 5.14 4.70 3.90 4.34 4.73 4.36 4.30 2.64 2.64 2.69 2.72 2.97 4.56 3.65 3.23 Effective Interest Rate on Debt %
10.17 10.39 10.91 11.43 18.33 17.60 18.20 17.92 16.07 18.52 19.04 19.61 18.54 20.15 18.55 17.94 17.94 Gross Margin %
10.17 10.39 10.91 11.43 12.47 11.49 12.15 11.71 8.90 11.93 12.61 13.51 12.25 13.68 12.31 11.81 11.81 Operating Margin %
6.42 6.97 7.71 7.61 8.39 7.49 8.08 7.73 -1.07 7.62 8.21 9.55 8.42 9.40 9.24 8.85 8.85 Net Margin %
8.03 8.55 7.46 9.00 8.95 7.68 8.06 8.51 7.00 8.65 10.72 6.41 5.79 11.13 6.79 5.07 5.07 FCF Margin %
0.46 0.40 0.28 0.24 0.40 0.31 0.24 0.30 0.34 0.27 0.33 0.32 0.38 0.35 1.06 0.99 0.99 Debt to Equity
0.41 0.41 0.44 0.46 0.35 0.40 0.41 0.38 0.33 0.41 0.34 0.34 0.31 0.33 0.26 0.28 0.28 Total Equity to Total Asset
0.19 0.17 0.12 0.11 0.14 0.12 0.10 0.11 0.11 0.11 0.11 0.11 0.12 0.11 0.27 0.28 0.28 Total Debt to Total Asset
11.53 11.70 12.48 12.94 19.86 18.94 18.58 17.37 14.39 16.41 16.58 18.51 17.39 18.30 16.69 14.98 14.79 Gross Profit to Total Asset %
1.13 1.13 1.14 1.13 1.08 1.08 1.02 0.97 0.90 0.89 0.87 0.94 0.94 0.91 0.90 0.84 0.82 Asset Turnover
0.23 0.22 0.21 0.22 0.22 0.24 0.24 0.26 -- 0.24 0.31 0.29 0.34 0.34 0.32 0.33 0.33 Dividend Payout Ratio
27.68 34.87 35.51 38.51 43.21 41.98 43.26 49.47 49.51 51.57 47.91 39.58 40.60 42.62 37.91 32.87 32.87 Days Sales Outstanding
31.98 32.74 33.30 35.07 37.27 32.76 37.60 39.40 34.64 32.09 30.06 28.06 37.21 47.33 39.36 35.74 35.74 Days Accounts Payable
82.00 82.82 84.42 86.36 93.53 58.48 29.44 65.57 107 112 113 111 94.13 76.90 69.84 69.42 71.26 Days Inventory
77.70 84.95 86.63 89.80 99.47 67.70 35.10 75.64 122 131 131 122 97.52 72.19 68.39 66.55 68.39 Cash Conversion Cycle
4.45 4.41 4.32 4.23 3.90 6.24 12.40 5.57 3.42 3.27 3.23 3.29 3.88 4.75 5.23 5.26 5.12 Inventory Turnover
0.90 0.90 0.89 0.89 0.82 0.82 0.82 0.82 0.84 0.81 0.81 0.80 0.81 0.80 0.81 0.82 0.82 COGS to Revenue
0.20 0.20 0.21 0.21 0.21 0.13 0.07 0.15 0.25 0.25 0.25 0.24 0.21 0.17 0.16 0.16 0.16 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GD 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
19,119 20,975 24,063 27,240 29,300 31,981 32,466 32,677 30,992 30,930 30,852 31,781 30,561 30,973 36,193 39,350 39,350 Revenue
17,175 18,796 21,438 24,127 23,928 26,352 26,557 26,821 26,012 25,202 24,979 25,549 24,896 24,731 29,478 32,291 32,291 Cost of Goods Sold
1,944 2,179 2,625 3,113 5,372 5,629 5,909 5,856 4,980 5,728 5,873 6,232 5,665 6,242 6,715 7,059 7,059 Gross Profit
10.17 10.39 10.91 11.43 18.33 17.60 18.20 17.92 16.07 18.52 19.04 19.61 18.54 20.15 18.55 17.94 17.94 Gross Margin %
-- -- -- -- 1,719 1,954 1,964 2,030 2,221 2,039 1,984 1,937 1,921 2,006 2,258 2,411 2,411 Selling, General, & Admin. Expense
1,944 2,179 2,625 3,113 3,653 3,675 3,945 3,826 2,759 3,689 3,889 4,295 3,744 4,236 4,457 4,648 4,648 Operating Income
10.17 10.39 10.91 11.43 12.47 11.49 12.15 11.71 8.90 11.93 12.61 13.51 12.25 13.68 12.31 11.81 11.81 Operating Margin %
9.00 36.00 55.00 61.00 67.00 11.00 10.00 14.00 12.00 17.00 17.00 15.00 8.00 14.00 18.00 12.00 -- Interest Income
-305 -272 -156 -131 -133 -171 -167 -155 -168 -103 -103 -98.00 -99.00 -117 -374 -472 -460 Interest Expense
-296 -236 -101 -70.00 -66.00 -160 -157 -141 -156 -86.00 -86.00 -83.00 -91.00 -103 -356 -460 -460 Net Interest Income
140 126 3.00 4.00 17.00 -2.00 2.00 33.00 -2,130 8.00 -1.00 7.00 3.00 -56.00 -16.00 14.00 14.00 Other Income (Expense)
1,788 2,069 2,527 3,047 3,604 3,513 3,790 3,718 473 3,611 3,802 4,219 3,656 4,077 4,085 4,202 4,202 Pre-Tax Income
-583 -621 -817 -967 -1,126 -1,106 -1,162 -1,166 -854 -1,125 -1,129 -1,183 -977 -1,165 -727 -718 -718 Tax Provision
32.61 30.01 32.33 31.74 31.24 31.48 30.66 31.36 181 31.15 29.69 28.04 26.72 28.57 17.80 17.09 17.09 Tax Rate %
1,205 1,448 1,710 2,080 2,478 2,407 2,628 2,552 -381 2,486 2,673 3,036 2,679 2,912 3,358 3,484 3,484 Net Income (Continuing Operations)
22.00 13.00 146 -8.00 -19.00 -13.00 -4.00 -26.00 49.00 -129 -140 -- -107 -- -13.00 -- -- Net Income (Discontinued
Operations)
1,227 1,461 1,856 2,072 2,459 2,394 2,624 2,526 -332 2,357 2,533 3,036 2,572 2,912 3,345 3,484 3,484 Net Income
6.42 6.97 7.71 7.61 8.39 7.49 8.08 7.73 -1.07 7.62 8.21 9.55 8.42 9.40 9.24 8.85 8.85 Net Margin %
3.08 3.64 4.60 5.12 6.21 6.21 6.88 6.94 -0.94 6.72 7.56 9.45 8.44 9.73 11.33 12.09 12.09 EPS (Basic)
3.05 3.61 4.56 5.08 6.17 6.17 6.81 6.87 -0.94 6.67 7.42 9.29 8.29 9.56 11.18 11.98 11.98 EPS (Diluted)
403 405 407 408 399 388 385 368 353 353 341 327 310 305 299 291 291 Shares Outstanding (Diluted
Average)
322 327 384 423 447 562 569 592 590 525 496 481 453 441 763 829 829 Depreciation, Depletion and
Amortization
2,415 2,668 3,067 3,601 4,184 4,246 4,526 4,465 1,231 4,239 4,401 4,798 4,208 4,635 5,222 5,503 5,503 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GD 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
976 2,331 1,604 2,891 1,621 2,263 2,613 2,649 3,296 5,301 4,388 2,785 2,334 2,983 963 902 902 Cash And Cash Equivalents
976 2,331 1,604 2,891 1,621 2,263 2,613 2,649 3,296 5,301 4,388 2,785 2,334 2,983 963 902 902 Cash, Cash Equivalents, Marketable
Securities
1,450 2,004 2,341 2,874 3,469 3,678 3,848 4,429 4,204 4,370 4,050 3,446 3,399 3,617 3,759 3,544 3,544 Accounts Receivable
392 505 711 804 1,001 1,129 965 6,199 6,073 5,990 5,881 5,733 1,429 1,357 1,504 1,733 1,733 Inventories, Raw Materials &
Components
648 701 715 774 876 907 1,124 1,202 1,518 1,633 1,828 1,889 3,643 3,872 4,357 4,419 4,419 Inventories, Work In Process
119 69.00 44.00 30.00 100.00 90.00 69.00 77.00 149 47.00 103 101 46.00 74.00 116 154 154 Inventories, Finished Goods
2,926 3,170 4,002 4,337 4,341 -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
4,085 4,445 5,472 5,945 6,318 2,126 2,158 7,478 7,740 7,670 7,812 7,723 5,118 5,303 5,977 6,306 6,306 Total Inventories
820 669 463 588 542 5,182 5,567 812 504 821 1,157 617 1,471 1,185 914 1,171 1,171 Other Current Assets
7,331 9,449 9,880 12,298 11,950 13,249 14,186 15,368 15,744 18,162 17,407 14,571 16,534 18,328 18,189 19,780 19,780 Total Current Assets
225 163 169 221 227 270 283 321 340 329 331 328 333 357 386 400 400 Land And Improvements
1,311 1,293 1,385 1,576 1,863 2,069 2,084 2,172 2,442 2,496 2,518 2,666 2,745 2,837 2,962 3,232 3,232 Buildings And Improvements
2,475 2,252 2,473 2,640 2,957 3,195 3,388 3,712 3,966 4,082 4,182 4,394 4,582 4,736 5,152 5,441 5,441 Machinery, Furniture, Equipment
78.00 130 161 292 293 143 204 313 255 245 261 288 269 307 472 688 688 Construction In Progress
4,167 3,838 4,188 4,729 5,340 5,677 5,959 6,518 7,003 7,152 7,292 7,676 7,929 8,237 8,972 9,761 9,761 Gross Property, Plant and Equipment
-2,014 -1,810 -2,020 -2,257 -2,468 -2,765 -2,988 -3,234 -3,600 -3,793 -3,963 -4,210 -4,452 -4,720 -4,994 -5,286 -5,286 Accumulated Depreciation
2,153 2,028 2,168 2,472 2,872 2,912 2,971 3,284 3,403 3,359 3,329 3,466 3,477 3,517 3,978 4,475 4,475 Property, Plant and Equipment
7,377 7,584 9,725 9,914 13,030 14,367 14,641 15,389 13,431 12,976 12,643 12,206 12,123 12,616 22,179 21,992 21,992 Intangible Assets
6,429 6,686 8,541 8,942 11,413 12,269 12,649 13,576 12,048 11,932 11,731 11,443 11,445 11,914 19,594 19,677 19,677 Goodwill
683 639 603 1,049 521 549 747 842 1,731 997 1,958 1,754 1,038 585 1,062 2,594 2,594 Other Long Term Assets
17,544 19,700 22,376 25,733 28,373 31,077 32,545 34,883 34,309 35,494 35,337 31,997 33,172 35,046 45,408 48,841 48,841 Total Assets
1,505 1,686 1,956 2,318 2,443 2,365 2,736 2,895 2,469 2,216 2,057 1,964 2,538 3,207 3,179 3,162 3,162 Accounts Payable
1,505 1,686 1,956 2,318 2,443 2,365 2,736 3,740 3,304 3,017 2,775 2,612 3,231 3,993 4,131 4,103 4,103 Accounts Payable & Accrued
Expense
6.00 509 7.00 673 911 705 773 -- -- 1.00 501 501 900 2.00 973 3,172 3,172 Current Portion of Long-Term Debt
1,003 2,565 2,949 3,440 4,154 4,313 4,465 5,011 6,042 6,584 7,335 5,674 6,827 6,992 7,270 7,148 7,148 Current Deferred Revenue
-- -- -- -- -- -- -- 131 173 300 729 829 -- -- -- -- -- Current Deferred Taxes Liabilities
1,003 2,565 2,949 3,440 4,154 4,313 4,465 5,142 6,215 6,884 8,064 6,503 6,827 6,992 7,270 7,148 7,148 DeferredTaxAndRevenue
2,864 2,350 2,912 2,733 2,852 2,988 3,203 2,263 2,101 2,357 2,411 2,829 2,492 2,112 2,365 2,378 2,378 Other Current Liabilities
5,378 7,110 7,824 9,164 10,360 10,371 11,177 11,145 11,620 12,259 13,751 12,445 13,450 13,099 14,739 16,801 16,801 Total Current Liabilities
3,291 2,778 2,774 2,118 3,113 3,159 2,430 3,907 3,908 3,908 3,392 2,898 2,988 3,980 11,444 9,010 9,010 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 1,251 1,251 Capital Lease Obligation
3,291 2,778 2,774 2,118 3,113 3,159 2,430 3,907 3,908 3,908 3,392 2,898 2,988 3,980 11,444 10,261 10,261 Long-Term Debt & Capital Lease
Obligation
0.46 0.40 0.28 0.24 0.40 0.31 0.24 0.30 0.34 0.27 0.33 0.32 0.38 0.35 1.06 0.99 0.99 Debt to Equity
-- -- -- -- -- -- -- 4,627 5,671 3,076 4,596 4,251 4,393 4,408 4,422 5,172 5,172 PensionAndRetirementBenefit
-- -- -- -- -- -- -- 1,302 993 812 699 581 902 1,058 1,303 1,190 1,190 NonCurrent Deferred Liabilities
1,686 1,667 1,951 2,683 4,847 5,124 5,622 670 727 938 1,070 1,084 1,138 1,066 1,768 1,840 1,840 Other Long-Term Liabilities
10,355 11,555 12,549 13,965 18,320 18,654 19,229 21,651 22,919 20,993 23,508 21,259 22,871 23,611 33,676 35,264 35,264 Total Liabilities
998 482 482 482 482 482 482 482 482 482 482 482 482 482 482 482 482 Common Stock
7,146 8,285 9,769 11,379 13,287 15,093 17,076 18,917 17,860 19,428 21,127 23,204 24,543 26,444 29,326 31,633 31,633 Retained Earnings
251 226 151 647 -1,713 -1,207 -1,436 -2,312 -2,775 -1,185 -2,932 -3,286 -3,387 -2,820 -3,778 -4,219 -4,219 Accumulated other comprehensive
income (loss)
-- 645 880 1,141 1,346 1,518 1,729 1,888 1,988 2,226 2,548 2,730 2,819 2,872 2,946 3,039 3,039 Additional Paid-In Capital
-1,206 -1,493 -1,455 -1,881 -3,349 -3,463 -4,535 -5,743 -6,165 -6,450 -9,396 -12,392 -14,156 -15,543 -17,244 -17,358 -17,358 Treasury Stock
7,189 8,145 9,827 11,768 10,053 12,423 13,316 13,232 11,390 14,501 11,829 10,738 10,301 11,435 11,732 13,577 13,577 Total Equity
0.41 0.41 0.44 0.46 0.35 0.40 0.41 0.38 0.33 0.41 0.34 0.34 0.31 0.33 0.26 0.28 0.28 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GD 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,203 1,448 1,710 2,080 2,478 2,407 2,628 2,552 -381 2,486 2,673 3,036 2,679 2,912 3,358 3,484 3,484 Net Income
1,203 1,448 1,710 2,080 2,478 2,407 2,628 2,552 -381 2,486 2,673 3,036 2,679 2,912 3,358 3,484 3,484 Net Income From Continuing
Operations
322 327 384 423 447 562 569 592 590 525 496 481 453 441 763 829 829 Depreciation, Depletion and
Amortization
-67.00 -555 -160 -519 -386 -151 -152 -397 225 -223 330 693 -1,170 -1,182 -383 -1,127 -1,127 Change In Receivables
-54.00 -122 -237 -135 -183 -72.00 -357 -248 -341 -23.00 -22.00 141 -377 -182 -591 -376 -376 Change In Inventory
166 187 180 340 -38.00 -92.00 366 17.00 -413 -204 -161 -89.00 567 657 -197 6.00 6.00 Change In Payables And Accrued
Expense
-48.00 139 -208 316 112 -588 -398 87.00 224 -238 609 -1,328 -970 -236 -825 -1,594 -1,594 Change In Working Capital
276 141 45.00 122 196 227 56.00 14.00 -144 115 136 213 184 401 -3.00 92.00 92.00 Change In DeferredTax
-- 39.00 61.00 86.00 105 117 118 128 114 120 128 98.00 95.00 123 140 133133 Stock Based Compensation
-- -- -- -- -- -- -2.00 -27.00 65.00 -18.00 36.00 -43.00 -54.00 -40.00 -20.00 -51.00 -51.00 Cash Flow from Discontinued
Operations
20.00 -61.00 164 -75.00 -214 130 15.00 -246 -92.00 103 -214 107 -278 235 -285 37.00 37.00 Cash Flow from Others
1,800 2,056 2,128 2,925 3,111 2,840 2,986 3,238 2,606 3,111 3,828 2,607 2,163 3,876 3,148 2,981 2,981 Cash Flow from Operations
-264 -262 -334 -474 -490 -385 -370 -458 -436 -436 -521 -569 -392 -428 -690 -987 -987 Purchase Of Property, Plant,
Equipment
-543 -277 -2,342 -330 -3,224 -811 -233 -1,560 -444 -1.00 -- -5.00 -58.00 -399 -10,099 -19.00 -- Purchase Of Business
-46.00 -10.00 -82.00 -2,798 -1,406 -489 -694 -832 -512 -135 -500 -123 -- -- -- -- -- Purchase Of Investment
37.00 18.00 70.00 2,619 1,292 179 809 783 296 113 -- 500 -- -- -- -- -- Sale Of Investment
-- 316 300 23.00 1.00 -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
35.00 34.00 72.00 108 164 114 80.00 93.00 454 96.00 -81.00 397 59.00 39.00 555 12.00 -7.00 Cash From Other Investing Activities
-781 -181 -2,316 -852 -3,663 -1,392 -408 -1,974 -642 -363 -1,102 200 -391 -788 -10,234 -994 -994 Cash Flow from Investing
-- -348 -85.00 -505 -1,522 -209 -1,185 -1,468 -602 -740 -3,382 -3,233 -1,996 -1,558 -1,769 -231 -1,467 Repurchase of Stock
-247 -- -500 -- 1,399 -157 -700 747 -18.00 -- -- -500 492 85.00 8,311 -850 -850 Net Issuance of Debt
-278 -314 -359 -445 -533 -577 -631 -673 -893 -591 -822 -873 -911 -986 -1,075 -1,152 -1,152 Cash Flow for Dividends
-379 142 405 164 -62.00 137 290 193 131 606 529 239 246 60.00 -381 236 236 Other Financing
-904 -520 -539 -786 -718 -806 -2,226 -1,201 -1,382 -725 -3,675 -4,367 -2,169 -2,399 5,086 -1,997 -1,997 Cash Flow from Financing
115 1,355 -727 1,287 -1,270 642 352 63.00 582 2,023 -949 -1,560 -397 689 -2,000 -10.00 -10.00 Net Change in Cash
-264 -262 -334 -474 -490 -385 -370 -458 -436 -436 -521 -569 -392 -428 -690 -987 -987 Capital Expenditure
1,536 1,794 1,794 2,451 2,621 2,455 2,616 2,780 2,170 2,675 3,307 2,038 1,771 3,448 2,458 1,994 1,994 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GD 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17.18 15.84 16.30 17.48 9.32 11.05 10.42 9.65 -- 14.33 18.50 15.11 19.16 21.30 14.05 14.72 13.78 PE Ratio(TTM)
13.57 12.41 16.10 13.37 7.63 11.59 10.69 8.29 -- 14.00 13.51 21.87 29.09 19.67 16.37 22.35 20.92 Price to Owner Earnings
(TTM)
2.93 2.80 3.07 3.05 2.21 2.12 1.98 1.79 2.17 2.33 3.86 4.00 5.07 5.28 3.87 3.76 3.52 Price to Book
-- 40.71 296 19.39 -- -- -- -- -- 22.14 -- -- -- -- -- -- -- Price to Tangible Book
13.73 12.91 16.84 14.78 8.76 10.80 10.39 8.69 11.32 12.64 14.16 22.14 30.24 17.91 18.99 25.72 24.07 Price-to-Free-Cash-Flow
Ratio
11.72 11.27 14.19 12.38 7.37 9.33 9.11 7.46 9.43 10.87 12.23 17.25 24.75 15.93 14.85 17.20 16.10 Price-to-Operating-Cash-
Flow Ratio
1.10 1.10 1.26 1.33 0.78 0.83 0.84 0.75 0.79 1.09 1.52 1.41 1.75 2.00 1.30 1.30 1.22 PS Ratio
3.31 1.53 1.31 1.05 0.53 0.74 0.83 0.98 -- -- -- 3.24 1.02 0.67 2.36 2.18 1.82 PEG Ratio
1.22 1.13 1.30 1.32 0.84 0.87 0.83 0.76 0.82 1.04 1.47 1.37 1.76 1.98 1.57 1.62 1.53 EV-to-Revenue
9.64 8.89 10.22 9.96 5.92 6.57 5.96 5.59 20.55 7.63 10.27 9.09 12.78 13.25 10.88 11.56 10.96 EV-to-EBITDA
11.12 10.13 11.68 11.28 6.63 7.57 6.82 6.45 39.47 8.71 11.58 10.10 14.32 14.64 12.75 13.61 12.91 EV-to-EBIT
8.99 9.87 8.56 8.87 15.08 13.21 14.66 15.50 2.53 11.48 8.64 9.90 6.98 6.83 7.84 7.35 7.75 Return on Capital %
11.65 16.09 18.50 21.56 26.51 23.01 21.09 19.79 8.71 -8.55 -1.25 10.29 22.48 23.94 11.40 10.84 11.12 Forward Rate of Return
23.75 23.13 25.97 26.85 15.57 16.51 15.42 12.99 14.39 18.21 24.55 22.41 26.14 28.45 20.44 21.23 19.87 Shiller PE Ratio
1.68 1.40 0.93 1.24 2.33 2.74 2.37 2.12 3.62 1.76 1.76 2.46 1.76 1.24 2.31 2.26 2.47 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
21,028 22,833 30,166 35,950 22,234 26,293 26,401 23,671 24,690 33,768 45,712 42,992 52,216 60,403 45,386 51,073 47,797 Market Cap
23,349 23,789 31,343 35,850 24,637 27,894 26,991 24,929 25,302 32,376 45,217 43,606 53,770 61,402 56,840 63,604 60,328 Enterprise Value
52.30 57.03 74.35 88.99 57.59 68.17 70.96 66.41 69.27 95.55 138 137 173 203 157 176 165 Month End Stock Price
-23.33 -23.04 -26.98 -27.41 -43.25 -42.50 -44.66 -53.31 -55.05 -44.40 -57.56 -59.02 -67.91 -69.48 -113 -119 -119 Net Cash (per share)
-7.52 -5.26 -6.58 -4.13 -16.50 -14.01 -13.55 -17.63 -20.13 -8.01 -18.37 -21.37 -20.95 -17.79 -53.64 -53.47 -53.47 Net Current Asset Value
(per share)
-15.54 -13.73 -15.91 -14.72 -28.33 -32.59 -34.00 -33.50 -35.35 -24.28 -36.66 -38.43 -51.02 -51.41 -93.20 -98.58 -98.58 Net-Net Working Capital (per
share)
52.40 59.99 69.40 83.93 95.02 106 115 117 96.12 101 104 105 103 111 129 142 142 Projected FCF (per share)
56.76 61.62 70.46 79.73 89.46 98.18 98.82 101 93.24 87.95 90.74 97.60 98.69 102 146 186 186 Median PS (per share)
15.82 37.38 56.77 84.52 109 91.66 85.10 67.67 -- -- -- -- 169 239 66.48 80.75 80.75 Peter Lynch Fair Value (per
share)
-- 10.62 4.87 22.95 -- -- -- -- -- 26.13 -- -- -- -- -- -- -- Graham Number (per share)
21.99 28.98 32.38 40.01 46.85 56.93 68.85 78.52 85.40 86.14 89.22 91.26 91.56 102 76.14 80.62 80.62 Earnings Power Value
(EPV)
3.35 3.33 3.61 3.76 2.91 3.06 3.07 2.86 2.48 3.15 3.36 3.75 3.81 4.05 2.92 2.97 2.91 Altman Z-Score
6.00 7.00 7.00 6.00 6.00 5.00 7.00 5.00 4.00 7.00 7.00 7.00 5.00 7.00 5.00 4.00 4.00 Piotroski F-Score
-3.04 -2.36 -2.32 -2.22 -- -2.61 -2.50 -2.45 -2.63 -2.64 -2.72 -2.52 -2.45 -2.60 -2.31 -2.45 -2.45 Beneish M-Score
0.59 0.52 0.56 0.52 0.48 0.49 0.45 0.45 0.34 0.38 0.32 0.32 0.37 0.38 0.66 0.58 0.54 Scaled Net Operating
Assets
1.19 -2.10 9.13 -- 10.61 3.04 0.14 3.62 -6.69 -1.10 -0.55 0.72 2.41 -0.50 22.97 3.07 3.07 Sloan Ratio (%)
1.36 1.33 1.26 1.34 1.15 1.28 1.27 1.38 1.35 1.48 1.27 1.17 1.23 1.40 1.23 1.18 1.18 Current Ratio
0.60 0.70 0.56 0.69 0.54 1.07 1.08 0.71 0.69 0.86 0.70 0.55 0.85 0.99 0.83 0.80 0.80 Quick Ratio
54.92 60.53 77.69 94.00 94.60 70.66 78.67 78.11 74.09 95.55 145 153 179 214 230 193 194 Highest Stock Price
43.05 49.39 56.80 73.95 48.54 36.31 55.87 55.67 61.96 64.57 94.46 131 124 173 148 153 155 Lowest Stock Price
-1.55 0.42 -1.34 0.43 4.43 0.10 3.54 4.20 -- 0.85 6.01 5.77 3.38 1.83 2.76 -0.32 -0.32 Shares Buyback Ratio (%)
15.46 9.19 14.16 12.84 10.10 12.20 2.22 5.50 -1.35 -0.24 3.30 7.64 1.20 3.26 18.99 11.83 11.76 YoY Rev. per Sh. Growth
(%)
20.83 18.56 26.32 11.40 21.46 -- 10.37 0.88 -114 810 11.24 25.20 -10.76 15.32 16.95 7.16 7.06 YoY EPS Growth (%)
38.08 9.94 14.40 17.03 18.93 4.31 7.35 3.40 -71.32 244 7.52 13.91 -7.70 12.23 14.73 8.39 8.34 YoY EBITDA Growth (%)
5.29 10.50 13.55 16.54 17.50 14.76 12.46 9.75 -1.10 -15.74 -6.97 4.66 18.02 31.83 5.92 6.74 7.60 EBITDA 5-Y Growth (%)
399 402 403 404 396 385 381 364 353 351 335 321 305 299 295 288 289 Shares Outstanding (Basic
Average)
402 400 406 404 386 386 372 356 356 353 332 313 302 297 289 290 290 Shares Outstanding (EOP)
0.69 1.52 0.52 0.76 1.31 1.25 1.29 1.27 1.25 1.01 0.66 0.80 0.80 0.79 1.21 1.39 1.37 Beta
03/04/05 03/03/06 02/23/07 02/22/08 02/20/09 02/19/10 02/18/11 02/17/12 02/08/13 02/07/14 02/09/15 02/08/16 02/06/17 02/12/18 02/13/19 02/10/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GD 6/7
03/03/06 02/23/07 02/22/08 02/20/09 02/18/11 02/18/11 02/08/13 02/07/14 02/09/15 02/08/16 02/06/17 02/12/18 02/13/19 02/10/20 02/10/20 02/10/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GD 7/7
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/KORS 1/1
Sherwin-Williams Co (NYSE:SHW) 03/02/2020 4:10PM EST GuruFocus
Price: $ 538.32 +21.57(+4.17%) Market Cap: $ 49.65 B Enterprise Value: $59.91 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 32.68
Cash to Debt 0.02 Operating margin (%) 13.55
Forward P/E N/A
Equity to Asset 0.20 Net-margin (%) 8.61
PE(NRI) 32.68
Interest Coverage 6.94 ROE (%) 40.38
F-Score:
P/B 12.05
ROA (%) 7.51
8 P/S 2.81
Z-Score: ROC (Joel Greenblatt) (%) 56.58
3.58 PFCF 25.26
Revenue Growth (3Y)(%) 15.10
M-Score: POCF 21.68
-2.59 EBITDA Growth (3Y)(%) 14.70
EV-to-EBIT 25.70
WACC vs 6.71% EPS Growth (3Y)(%) 11.90
ROIC 13.20% PEG 2.46
WACC
ROIC Shiller P/E 50.22
Current Ratio 1.02
Quick Ratio 0.61
Days Inventory 69.70
Days Sales Outstanding 42.59
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year Sherwin-Williams is the largest provider of architectural paint in the United States. The company has approximately
4,700 stores and sells premium paint at higher price points than most competitors. Sherwin Williams also sells paint-
slow down 2016 2,574 3,220 3,279 2,783 11,856 related products in big-box stores and provides coatings for original equipment manufacturers.... (Read More)
2017 2,761 3,736 4,507 3,980 14,984 Competitors: NYSE:ECL , XSWX:GIVN, XSWX:SIKA, NYSE:PPG, NYSE:LYB, BOM:500820 , XAMS:DSM,
Price: Close to 10-year high
2018 3,965 4,774 4,731 4,064 17,535 XAMS:AKZA, XSWX:EMSN, TSE:4612, NYSE:IFF, XTER:SY1, BKK:SCC, XTER:EVK, ISX:TPIA, NSE:PIDILITIND,
OCSE:CHR, NYSE:AVTR, NYSE:ALB, NYSE:RPM
PS Ratio: Close to 10-year 2019 4,041 4,878 4,868 4,114 17,901
high 2020 Insider Trades
Insider Sell: Insider Selling Quarterly Earnings per Share
Mar Jun Sep Dec Full Year
Good Signs 2016 1.75 3.99 4.08 2.15 11.97
2017 2.53 3.36 3.33 9.39 18.61
Piotroski F-Score: High 2018 2.62 4.25 3.72 1.07 11.66
PE Ratio: Close to 1-year low 2019 2.62 5.03 6.16 2.66 16.47
2020
PB Ratio: Close to 1-year low
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
2016 0.84 0.84 0.84 0.84 3.36
EPS without NRI: $16.47 2017 0.85 0.85 0.85 0.85 3.40
Growth Rate in the next 10 2018 0.86 0.86 0.86 0.86 3.44
years: 17.60% 2019 1.13 1.13 1.13 1.13 4.52
Terminal Growth Rate for 10 2020
years: 4%
Fair Value: $400.06 Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Reverse DCF Revenue Growth (%) 11.70 12.70 3.80
Expected eps Growth Rate: EBITDA Growth (%) 15.60 13.30 27.20
22.09% Free Cash Flow Growth (%) 15.00 18.00 19.60
Book Value Growth (%) 13.90 41.80 11.50
EPS Growth (%) 17.60 11.60 43.90
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SHW 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
42.29 50.91 56.81 61.14 66.86 61.98 71.48 82.95 91.74 98.84 113 120 125 158 185 192 191 Revenue per Share
5.32 6.42 7.62 8.77 7.92 7.28 8.49 9.13 10.87 12.97 15.41 19.14 20.60 23.44 24.45 31.10 31.07 EBITDA per Share
4.38 5.34 6.56 7.52 6.54 5.79 6.88 7.42 9.14 11.15 13.39 17.04 18.51 18.25 18.18 24.95 24.92 EBIT per Share
2.72 3.28 4.19 4.70 4.00 3.78 4.21 4.14 6.02 7.26 8.77 11.15 11.99 18.20 11.67 16.49 16.47 Earnings per Share (diluted)
2.72 3.28 4.19 4.70 4.00 3.78 4.21 4.14 6.02 7.26 8.77 11.15 11.99 18.64 11.67 16.79 16.47 eps without NRI
2.38 3.63 4.33 4.61 4.54 5.60 5.01 4.34 6.39 7.85 8.26 12.29 9.74 21.09 15.97 12.82 12.82 Owner Earnings per Share (TTM)
3.03 4.06 4.41 5.41 6.36 6.71 5.35 5.51 7.03 8.90 8.92 12.83 11.32 17.50 17.82 21.32 21.31 Free Cashflow per Share
0.68 0.82 1.00 1.26 1.40 1.42 1.44 1.46 1.56 2.00 2.20 2.68 3.36 3.40 3.44 4.52 4.52 Dividends per Share
10.48 12.55 11.67 11.90 11.85 11.64 13.01 13.06 16.37 17.32 10.52 9.41 20.20 38.86 40.07 44.67 44.67 Book Value per Share
1.90 3.83 2.67 0.92 0.70 -0.18 -0.28 -0.55 1.81 2.42 -4.76 -5.75 5.34 -97.66 -90.51 -82.51 -82.51 Tangible Book per Share
5.24 4.60 6.55 7.86 7.11 7.47 9.76 9.57 16.51 17.20 18.99 21.14 20.99 112 100 113 113 Total Debt per Share
44.63 45.42 63.58 58.04 59.75 61.65 83.75 89.27 154 184 263 260 269 410 393 584 538 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
25.32 27.43 30.95 32.59 28.12 28.15 29.52 27.96 37.83 41.95 62.50 113 82.49 62.53 30.05 39.25 40.38 Return on Equity %
9.88 10.72 12.30 12.50 10.29 9.97 9.74 8.50 11.01 11.93 14.33 18.36 18.08 12.97 5.68 7.78 7.51 Return on Assets %
60.09 63.65 72.72 71.12 55.55 53.09 57.56 55.67 67.25 77.74 86.60 110 111 77.48 68.63 68.78 56.58 Return on Capital %
21.43 22.92 26.54 26.03 21.72 20.90 21.05 18.20 25.58 29.64 32.63 40.94 43.80 24.21 11.47 13.81 13.20 Return on Invested Capital %
8.44 8.20 10.03 8.01 5.05 7.07 7.30 6.20 4.83 5.73 4.45 9.35 10.44 10.45 8.60 7.53 6.71 Weighted Average Cost Of Capital (WACC) %
-- -- -- 7.79 7.30 4.85 7.58 4.17 3.17 3.66 3.65 3.30 7.90 4.23 3.69 3.53 3.29 Effective Interest Rate on Debt %
44.19 42.84 43.72 44.96 43.85 46.00 44.76 42.72 44.12 45.32 46.40 49.03 49.94 44.84 42.31 44.89 44.89 Gross Margin %
10.35 10.49 11.55 12.30 10.48 9.79 9.59 8.84 9.86 11.31 11.73 14.24 14.45 11.34 10.78 13.55 13.55 Operating Margin %
6.43 6.44 7.38 7.69 5.98 6.14 5.95 5.04 6.62 7.39 7.78 9.29 9.55 11.53 6.32 8.61 8.61 Net Margin %
7.16 7.98 7.76 8.85 9.51 10.82 7.48 6.64 7.66 9.00 7.92 10.70 9.02 11.09 9.65 11.13 11.13 FCF Margin %
0.45 0.36 0.44 0.54 0.52 0.55 0.65 0.66 0.95 0.97 1.81 2.25 1.04 2.88 2.51 2.53 2.53 Debt to Equity
0.39 0.40 0.40 0.37 0.36 0.35 0.31 0.29 0.29 0.28 0.18 0.15 0.28 0.18 0.20 0.20 0.20 Total Equity to Total Asset
0.17 0.14 0.18 0.20 0.19 0.19 0.20 0.19 0.27 0.27 0.32 0.34 0.29 0.53 0.49 0.51 0.51 Total Debt to Total Asset
67.90 71.28 72.93 73.07 75.48 74.68 73.34 72.02 73.38 73.18 85.49 96.87 94.50 50.42 38.01 40.56 39.15 Gross Profit to Total Asset %
1.54 1.66 1.67 1.63 1.72 1.62 1.64 1.69 1.66 1.62 1.84 1.98 1.89 1.12 0.90 0.90 0.87 Asset Turnover
0.25 0.25 0.24 0.27 0.35 0.38 0.34 0.35 0.26 0.28 0.25 0.24 0.28 0.18 0.30 0.27 0.27 Dividend Payout Ratio
43.25 41.08 40.43 39.70 35.22 35.81 43.03 41.22 39.53 39.34 37.08 35.87 37.90 51.27 42.02 42.59 42.59 Days Sales Outstanding
69.63 63.93 64.72 61.36 60.12 64.29 77.30 70.16 63.23 65.44 63.77 73.10 63.63 79.12 64.93 69.42 69.42 Days Accounts Payable
75.47 70.22 67.84 70.93 71.34 76.35 70.37 67.04 63.27 61.97 61.32 64.80 64.18 62.07 64.19 68.54 69.70 Days Inventory
49.09 47.37 43.55 49.27 46.44 47.87 36.10 38.10 39.57 35.87 34.63 27.57 38.45 34.22 41.28 41.71 42.87 Cash Conversion Cycle
4.84 5.20 5.38 5.15 5.12 4.78 5.19 5.44 5.77 5.89 5.95 5.63 5.69 5.88 5.69 5.33 5.24 Inventory Turnover
0.56 0.57 0.56 0.55 0.56 0.54 0.55 0.57 0.56 0.55 0.54 0.51 0.50 0.55 0.58 0.55 0.55 COGS to Revenue
0.12 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.10 0.09 0.09 0.09 0.09 0.09 0.10 0.10 0.11 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SHW 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6,114 7,191 7,810 8,005 7,980 7,094 7,776 8,766 9,534 10,186 11,130 11,339 11,856 14,984 17,535 17,901 17,901 Revenue
3,412 4,110 4,395 4,406 4,481 3,831 4,295 5,021 5,328 5,569 5,965 5,780 5,934 8,265 10,116 9,865 9,865 Cost of Goods Sold
2,701 3,080 3,415 3,599 3,499 3,263 3,481 3,745 4,206 4,617 5,164 5,560 5,921 6,719 7,419 8,036 8,036 Gross Profit
44.19 42.84 43.72 44.96 43.85 46.00 44.76 42.72 44.12 45.32 46.40 49.03 49.94 44.84 42.31 44.89 44.89 Gross Margin %
2,069 2,326 2,513 2,615 2,663 2,535 2,728 2,961 3,260 3,468 3,823 3,886 4,140 4,798 5,034 5,275 5,275 Selling, General, & Admin. Expense
-0.00 -- -0.00 0.00 0.00 33.62 7.09 9.10 6.74 -2.75 36.05 59.31 68.34 222 494 336 336 Other Operating Expense
632 754 902 984 836 695 746 775 940 1,152 1,305 1,615 1,713 1,699 1,890 2,425 2,425 Operating Income
10.35 10.49 11.55 12.30 10.48 9.79 9.59 8.84 9.86 11.31 11.73 14.24 14.45 11.34 10.78 13.55 13.55 Operating Margin %
-- -- -- 14.10 3.93 2.39 2.93 3.71 2.91 3.24 3.00 1.40 4.96 8.60 5.20 25.90 25.90 Interest Income
-- -- -- -71.63 -65.68 -40.03 -70.60 -42.50 -42.79 -62.71 -64.21 -61.79 -154 -264 -367 -349 -349 Interest Expense
-- -- -- -57.53 -61.75 -37.63 -76.92 -46.81 -49.10 -69.30 -72.58 -71.48 -158 -265 -371 -334 -334 Net Interest Income
-52.28 -97.93 -67.40 -13.80 -59.67 -34.32 8.84 13.71 16.56 3.62 25.33 5.81 40.37 35.00 -160 -110 -110 Other Income (Expense)
-1.28 -1.36 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Other Income (Minority Interest)
580 656 834 913 714 623 678 742 907 1,086 1,258 1,549 1,595 1,469 1,360 1,982 1,982 Pre-Tax Income
-186 -192 -258 -297 -238 -187 -215 -300 -276 -333 -392 -495 -463 300 -251 -441 -441 Tax Provision
32.00 29.20 30.95 32.57 33.26 30.02 31.77 40.41 30.45 30.70 31.18 31.96 28.99 -20.43 18.46 22.23 22.23 Tax Rate %
393 463 576 616 477 436 462 442 631 753 866 1,054 1,133 1,770 1,109 1,541 1,541 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -- -- -- -- -- -- -41.60 -- -- -- Net Income (Discontinued
Operations)
393 463 576 616 477 436 462 442 631 753 866 1,054 1,133 1,728 1,109 1,541 1,541 Net Income
6.43 6.44 7.38 7.69 5.98 6.14 5.95 5.04 6.62 7.39 7.78 9.29 9.55 11.53 6.32 8.61 8.61 Net Margin %
2.79 3.39 4.31 4.84 4.08 3.80 4.28 4.22 6.15 7.41 9.00 11.43 12.33 18.60 11.92 16.79 16.79 EPS (Basic)
2.72 3.28 4.19 4.70 4.00 3.78 4.21 4.14 6.02 7.26 8.77 11.15 11.99 18.20 11.67 16.49 16.47 EPS (Diluted)
145 141 137 131 119 114 109 106 104 103 98.74 94.54 94.49 94.93 94.99 93.45 93.26 Shares Outstanding (Diluted
Average)
137 152 146 163 166 171 175 181 179 188 199 199 197 492 596 575 575 Depreciation, Depletion and
Amortization
770 906 1,048 1,148 946 834 924 965 1,129 1,336 1,521 1,809 1,947 2,225 2,323 2,906 2,906 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SHW 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
45.93 36.04 469 27.33 26.21 69.33 58.59 32.70 863 745 40.73 206 890 204 156 162 162 Cash And Cash Equivalents
-- -- 21.20 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
45.93 36.04 490 27.33 26.21 69.33 58.59 32.70 863 745 40.73 206 890 204 156 162 162 Cash, Cash Equivalents, Marketable
Securities
724 809 865 871 770 696 917 990 1,033 1,098 1,131 1,114 1,231 2,105 2,019 2,089 2,089 Accounts Receivable
122 122 118 131 115 108 174 196 188 192 192 178 170 386 389 380 380 Inventories, Work In Process
651 687 707 756 749 631 744 731 732 779 842 841 899 1,357 1,426 1,510 1,510 Inventories, Finished Goods
-0.00 -- -0.00 0.00 0.00 -- -- -- -0.00 -- -- -- -- -- -0.00 -- -- Inventories, Other
773 809 825 887 864 738 918 927 920 971 1,034 1,019 1,068 1,743 1,815 1,890 1,890 Total Inventories
239 241 270 284 249 266 321 312 334 345 361 319 438 356 355 491 491 Other Current Assets
1,782 1,894 2,450 2,070 1,909 1,770 2,214 2,262 3,149 3,159 2,566 2,657 3,627 4,407 4,345 4,632 4,632 Total Current Assets
70.23 73.75 76.52 83.01 85.49 85.17 106 105 102 125 126 120 116 255 245 242 242 Land And Improvements
463 474 513 562 580 601 669 669 678 715 698 696 715 962 979 1,044 1,044 Buildings And Improvements
1,185 1,277 1,372 1,517 1,564 1,512 1,618 1,658 1,751 1,839 1,952 2,027 2,153 2,573 2,669 2,952 2,952 Machinery, Furniture, Equipment
33.01 55.72 87.59 65.32 26.56 23.09 34.04 41.26 56.58 62.56 59.33 81.08 117 177 148 144 144 Construction In Progress
1,752 1,880 2,050 2,227 2,256 2,221 2,426 2,473 2,588 2,741 2,835 2,923 3,101 3,967 4,040 6,068 6,068 Gross Property, Plant and Equipment
-1,031 -1,135 -1,221 -1,327 -1,396 -1,402 -1,474 -1,516 -1,622 -1,720 -1,814 -1,882 -2,005 -2,090 -2,263 -2,547 -2,547 Accumulated Depreciation
720 745 829 899 860 819 952 957 966 1,021 1,021 1,042 1,096 1,877 1,777 3,521 3,521 Property, Plant and Equipment
1,208 1,178 1,202 1,348 1,307 1,294 1,423 1,414 1,504 1,492 1,447 1,399 1,382 12,817 12,158 11,739 11,739 Intangible Assets
-- -- 916 997 1,007 1,015 1,102 1,108 1,156 1,179 1,158 1,143 1,127 6,814 6,957 7,005 7,005 Goodwill
564 551 514 539 340 441 580 597 616 710 665 681 647 799 855 604 604 Other Long Term Assets
4,274 4,369 4,995 4,855 4,416 4,324 5,169 5,229 6,235 6,383 5,699 5,779 6,753 19,900 19,134 20,496 20,496 Total Assets
651 720 779 741 738 675 910 965 923 998 1,042 1,158 1,035 1,792 1,799 1,876 1,876 Accounts Payable
-- -- -- 70.67 58.51 76.50 62.55 121 52.10 79.50 86.74 81.15 76.77 79.90 80.80 85.70 85.70 Total Tax Payable
1,074 1,195 1,255 1,245 1,212 1,359 1,414 1,557 1,489 1,591 1,638 1,761 1,690 2,844 3,158 2,963 2,963 Accounts Payable & Accrued
Expense
250 134 583 672 530 34.94 396 354 72.72 599 683 42.62 741 635 636 1,006 1,006 Current Portion of Long-Term Debt
196 225 237 224 195 -0.00 253 251 315 338 360 338 398 508 505 553 553 Other Current Liabilities
1,520 1,554 2,075 2,141 1,937 1,394 2,064 2,163 1,876 2,529 2,681 2,142 2,829 3,987 4,298 4,522 4,522 Total Current Liabilities
488 487 292 293 304 783 648 639 1,632 1,122 1,116 1,907 1,211 9,886 8,708 8,051 8,051 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 1,371 1,371 Capital Lease Obligation
488 487 292 293 304 783 648 639 1,632 1,122 1,116 1,907 1,211 9,886 8,708 9,421 9,421 Long-Term Debt & Capital Lease
Obligation
0.45 0.36 0.44 0.54 0.52 0.55 0.65 0.66 0.95 0.97 1.81 2.25 1.04 2.88 2.51 2.53 2.53 Debt to Equity
-- -- -- 263 249 284 296 298 320 269 278 249 250 275 258 263 263 PensionAndRetirementBenefit
-- -- -- -- -- -- -- -- -- -- -- 139 73.83 1,420 1,131 970 970 NonCurrent Deferred Liabilities
3.71 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Minority Interest
615 597 636 372 321 373 552 613 614 688 628 475 509 684 1,009 1,197 1,197 Other Long-Term Liabilities
2,623 2,639 3,003 3,070 2,810 2,833 3,560 3,712 4,443 4,608 4,703 4,911 4,874 16,252 15,404 16,373 16,373 Total Liabilities
216 219 223 226 227 229 231 107 112 113 115 116 117 118 118 119 119 Common Stock
172 34.70 433 325 217 217 217 160 101 40.41 -- -- -- -- -- -- -- Preferred Stock
2,695 3,045 3,486 3,935 4,245 4,518 4,824 756 1,226 1,774 2,425 3,229 4,049 5,458 6,247 7,367 7,367 Retained Earnings
-381 -248 -696 -199 -411 -317 -278 -368 -370 -321 -472 -587 -540 -385 -630 -680 -680 Accumulated other comprehensive
income (loss)
475 570 749 898 1,016 1,069 1,223 1,298 1,674 1,848 2,080 2,330 2,489 2,723 2,896 3,153 3,153 Additional Paid-In Capital
-1,529 -1,890 -2,202 -3,074 -3,472 -4,008 -4,391 -277 -850 -1,639 -3,150 -4,220 -4,236 -4,266 -4,901 -5,837 -5,837 Treasury Stock
1,647 1,731 1,992 1,786 1,606 1,491 1,609 1,517 1,792 1,775 996 868 1,878 3,648 3,731 4,123 4,123 Total Equity
0.39 0.40 0.40 0.37 0.36 0.35 0.31 0.29 0.29 0.28 0.18 0.15 0.28 0.18 0.20 0.20 0.20 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SHW 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
393 463 576 616 477 436 462 442 631 753 866 1,054 1,133 1,770 1,109 1,541 1,541 Net Income
393 463 576 616 477 436 462 442 631 753 866 1,054 1,133 1,770 1,109 1,541 1,541 Net Income From Continuing
Operations
137 152 146 163 166 171 175 181 179 188 199 199 197 492 596 575 575 Depreciation, Depletion and
Amortization
-89.04 -81.63 -41.89 58.78 68.49 108 -95.05 -94.27 -66.55 -28.23 -117 -37.64 -115 -65.40 38.50 -121 -- Change In Receivables
-62.70 -33.46 -7.55 5.12 -2.47 146 -82.06 -19.22 19.93 25.03 -101 -40.73 -52.58 -90.00 -120 -75.50 -- Change In Inventory
33.42 67.28 53.37 -62.54 10.57 -92.35 136 69.49 -121 46.00 91.79 165 -121 146 253 -18.30 -- Change In Payables And Accrued
Expense
-90.41 -2.40 -6.56 -62.93 31.22 147 33.80 -44.54 -24.31 -12.76 -96.66 73.21 -228 -16.20 161 -548 -548 Change In Working Capital
17.23 -16.05 -11.35 32.98 30.37 -8.61 12.56 13.70 -10.42 27.78 -19.04 4.98 -68.24 -621 -143 -131 -131 Change In DeferredTax
-- -- -- 35.36 41.11 23.27 42.28 48.18 54.35 58.00 64.74 72.34 72.11 90.30 82.60 102 102 Stock Based Compensation
87.32 120 112 73.95 76.55 76.95 -24.33 90.22 53.94 70.40 67.66 44.53 192 167 139 660 782 Cash Flow from Others
545 717 816 875 876 859 707 736 888 1,084 1,082 1,447 1,309 1,884 1,944 2,321 2,321 Cash Flow from Operations
-107 -143 -210 -166 -117 -91.33 -125 -154 -157 -167 -201 -234 -239 -223 -251 -329 -329 Purchase Of Property, Plant,
Equipment
0.61 13.46 8.98 23.82 11.13 5.60 8.34 -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -282 -68.69 -15.44 -298 -44.44 -99.24 -79.94 -- -- -- -8,810 -- -77.30 -- Purchase Of Business
-12.74 -37.13 -71.18 -53.35 -62.07 -29.23 -74.96 -92.37 -95.78 -94.74 -111 -65.59 -103 -61.50 -39.00 -63.30 -52.12 Purchase Of Investment
-- -- -- 21.20 -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Investment
-563 -33.00 -47.61 0.00 0.00 -0.00 -0.00 12.84 9.68 3.04 1.52 11.30 38.43 47.20 38.40 6.90 -81.59 Cash From Other Investing Activities
-682 -200 -320 -457 -237 -130 -490 -278 -342 -338 -310 -289 -304 -9,047 -252 -463 -463 Cash Flow from Investing
88.49 58.38 98.65 71.28 -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-267 -356 -311 -863 -394 -530 -376 -367 -558 -769 -1,489 -1,035 -- -- -613 -779 -779 Repurchase of Stock
158 -114 252 72.01 -123 -23.35 191 -52.45 701 21.18 92.24 167 -66.63 6,729 -933 -672 -672 Net Issuance of Debt
-96.92 -114 -135 -162 -165 -163 -156 -154 -161 -205 -215 -250 -312 -319 -323 -421 -421 Cash Flow for Dividends
-5.16 -3.91 32.67 86.81 44.15 33.44 118 98.13 304 99.77 145 137 71.36 104 123 25.40 25.40 Other Financing
-123 -530 -63.65 -867 -638 -683 -224 -475 287 -853 -1,467 -980 -307 6,514 -1,747 -1,846 -1,846 Cash Flow from Financing
-257 -9.89 433 -442 -1.11 43.12 -10.74 -25.89 830 -118 -704 165 684 -686 -48.70 6.30 6.30 Net Change in Cash
-107 -143 -210 -166 -117 -91.33 -125 -154 -157 -167 -201 -234 -239 -223 -251 -329 -329 Capital Expenditure
438 574 606 709 759 768 581 582 731 917 881 1,213 1,070 1,661 1,693 1,992 1,992 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SHW 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.41 13.85 15.21 12.30 14.86 16.27 19.85 21.56 23.74 25.28 29.89 23.24 22.45 22.03 33.74 35.43 32.68 PE Ratio(TTM)
18.78 12.51 14.69 12.59 13.15 11.00 16.72 20.56 24.06 23.36 31.86 21.13 27.58 19.44 24.64 45.53 42.00 Price to Owner Earnings
(TTM)
4.26 3.62 5.45 4.88 5.04 5.30 6.44 6.83 9.40 10.60 25.00 27.59 13.31 10.55 9.82 13.06 12.05 Price to Book
23.53 11.86 23.80 62.95 85.24 -- -- -- 84.89 75.89 -- -- 50.34 -- -- -- -- Price to Tangible Book
14.63 11.05 14.38 10.55 9.29 9.13 15.67 15.98 21.85 20.53 29.06 20.16 23.81 23.47 22.06 27.38 25.26 Price-to-Free-Cash-Flow
Ratio
11.78 8.86 10.69 8.57 8.06 8.16 12.89 12.67 17.99 17.38 23.72 16.90 19.46 20.70 19.21 23.50 21.68 Price-to-Operating-Cash-
Flow Ratio
1.06 0.89 1.12 0.95 0.89 1.00 1.17 1.07 1.68 1.86 2.33 2.16 2.14 2.60 2.13 3.05 2.81 PS Ratio
5.62 1.64 1.07 0.76 1.05 2.59 13.32 14.57 4.29 1.99 1.88 1.33 1.22 1.25 2.21 2.79 2.46 PEG Ratio
1.17 0.94 1.19 1.05 1.01 1.09 1.31 1.19 1.77 1.90 2.40 2.27 2.20 3.26 2.61 3.58 3.35 EV-to-Revenue
9.29 7.46 8.89 7.31 8.49 9.25 11.01 10.77 14.90 14.51 17.53 14.20 13.39 21.94 19.73 22.07 20.62 EV-to-EBITDA
11.31 8.96 10.32 8.52 10.29 11.63 13.58 13.25 17.71 16.88 20.17 15.95 14.90 28.17 26.54 27.51 25.70 EV-to-EBIT
8.84 11.16 9.69 11.74 9.72 8.60 7.36 7.55 5.65 5.92 4.96 6.27 6.71 3.55 3.77 3.64 3.89 Return on Capital %
9.48 15.72 19.90 23.29 22.17 15.03 8.48 8.14 9.66 16.44 18.61 20.77 22.04 20.04 18.74 15.37 15.60 Forward Rate of Return
26.88 24.05 28.95 22.63 21.69 20.75 24.39 23.98 35.52 37.86 48.90 42.25 38.61 48.42 42.15 54.44 50.22 Shiller PE Ratio
1.52 1.81 1.57 2.17 2.34 2.30 1.72 1.64 1.01 1.09 0.84 1.03 1.25 0.83 0.87 0.77 0.89 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6,283 6,138 8,492 7,128 7,003 6,747 8,963 9,271 15,885 18,374 24,911 23,947 24,996 38,496 36,638 53,866 49,648 Market Cap
7,151 6,758 9,309 8,391 8,028 7,712 10,166 10,392 16,828 19,391 26,669 25,691 26,059 48,812 45,826 64,132 59,914 Enterprise Value
44.63 45.42 63.58 58.04 59.75 61.65 83.75 89.27 154 184 263 260 269 410 393 584 538 Month End Stock Price
-18.33 -19.26 -18.81 -24.77 -23.75 -25.25 -32.72 -35.43 -34.67 -38.58 -49.23 -51.01 -42.84 -171 -164 -176 -176 Net Cash (per share)
-7.22 -5.76 -7.38 -10.79 -9.54 -11.69 -14.60 -15.51 -13.51 -14.88 -22.57 -24.43 -13.40 -126 -119 -127 -127 Net Current Asset Value
(per share)
-12.95 -12.03 -14.11 -18.49 -16.99 -19.09 -24.03 -25.36 -23.69 -25.91 -34.82 -36.43 -27.17 -145 -138 -148 -148 Net-Net Working Capital (per
share)
40.59 51.77 65.91 74.33 84.66 79.13 74.90 78.31 90.80 113 120 137 157 199 227 261 261 Projected FCF (per share)
40.11 48.21 53.06 56.95 60.17 55.62 67.63 81.87 94.86 106 126 140 158 285 369 407 407 Median PS (per share)
29.43 27.72 59.44 76.89 56.76 23.80 -- -- 35.90 92.35 140 195 220 327 178 209 209 Peter Lynch Fair Value (per
share)
10.77 16.81 15.87 9.87 7.94 -- -- -- 15.67 19.87 -- -- 37.95 -- -- -- -- Graham Number (per share)
40.30 45.47 54.37 62.08 73.94 83.18 82.97 82.35 86.55 94.69 99.16 121 153 119 164 190 190 Earnings Power Value
(EPV)
4.27 4.61 4.88 4.78 5.17 5.14 4.83 3.89 4.70 5.09 6.47 6.70 6.67 2.87 3.10 3.73 3.58 Altman Z-Score
7.00 8.00 8.00 6.00 6.00 7.00 7.00 5.00 8.00 7.00 7.00 8.00 8.00 5.00 5.00 8.00 8.00 Piotroski F-Score
-2.28 -2.58 -2.67 -2.70 -2.96 -3.00 -2.44 -2.66 -2.72 -2.68 -2.69 -2.87 -2.56 -1.46 -2.62 -2.59 -2.59 Beneish M-Score
0.64 0.54 0.54 0.55 0.50 0.51 0.60 0.48 0.50 0.44 0.43 0.46 0.51 2.07 0.65 0.75 0.69 Scaled Net Operating
Assets
12.41 -1.23 1.60 4.07 -3.68 -6.77 4.76 -0.31 1.37 0.11 1.66 -1.82 1.89 44.68 -3.05 -1.55 -1.55 Sloan Ratio (%)
1.17 1.22 1.18 0.97 0.99 1.27 1.07 1.05 1.68 1.25 0.96 1.24 1.28 1.11 1.01 1.02 1.02 Current Ratio
0.66 0.70 0.78 0.55 0.54 0.74 0.63 0.62 1.19 0.87 0.57 0.77 0.90 0.67 0.59 0.61 0.61 Quick Ratio
45.48 48.63 64.61 72.99 63.36 63.75 84.50 90.08 159 195 265 292 312 414 478 593 600 Highest Stock Price
33.06 40.75 41.29 57.65 45.06 42.98 58.00 69.57 89.27 154 176 219 239 269 365 380 410 Lowest Stock Price
1.83 4.00 1.16 8.05 4.56 6.63 2.21 2.96 0.56 3.04 5.42 2.60 -0.83 -0.94 0.82 0.87 0.87 Shares Buyback Ratio (%)
14.89 20.40 11.57 7.64 9.35 -7.30 15.33 16.04 10.59 7.74 14.03 6.41 4.61 25.80 16.95 3.77 3.69 YoY Rev. per Sh. Growth
(%)
20.35 20.59 27.74 12.17 -14.89 -5.50 11.38 -1.66 45.41 20.60 20.80 27.14 7.53 51.79 -35.88 41.30 41.25 YoY EPS Growth (%)
13.32 20.53 18.75 15.08 -9.64 -8.08 16.57 7.55 18.99 19.35 18.81 24.20 7.67 13.74 4.34 27.17 27.13 YoY EBITDA Growth (%)
2.92 8.45 14.22 16.29 14.12 6.28 1.49 1.48 5.54 12.72 15.86 17.46 18.39 17.15 15.30 12.69 13.30 EBITDA 5-Y Growth (%)
141 137 134 127 117 114 107 103 102 101 96.19 92.20 91.84 92.91 92.99 91.80 91.66 Shares Outstanding (Basic
Average)
141 135 134 123 117 109 107 104 103 100 94.70 92.25 93.01 93.88 93.12 92.31 92.31 Shares Outstanding (EOP)
0.84 0.80 1.06 0.84 0.59 0.64 0.68 0.78 0.54 0.49 0.40 1.28 1.41 1.46 1.16 1.09 1.06 Beta
03/10/05 03/07/06 02/28/07 02/28/08 02/24/09 02/24/10 02/23/11 02/23/12 02/28/13 02/27/14 02/25/15 02/24/16 02/22/17 02/23/18 02/22/19 02/21/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SHW 6/7
03/10/05 03/07/06 02/28/07 02/24/10 02/24/10 02/23/11 02/28/13 02/27/14 02/25/15 02/24/16 02/22/17 02/23/18 02/22/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SHW 7/7
Adobe Inc (NAS:ADBE) 03/02/2020 4:00PM EST GuruFocus
Price: $ 360.28 +15.16(+4.39%) Market Cap: $ 175.72 B Enterprise Value: $175.68 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 60.05
Cash to Debt 1.01 Operating margin (%) 29.25
Forward P/E N/A
Equity to Asset 0.51 Net-margin (%) 26.42
PE(NRI) 60.05
Interest Coverage 20.79 ROE (%) 29.55
F-Score:
P/B 16.50
ROA (%) 14.94
5 P/S 15.85
Z-Score: ROC (Joel Greenblatt) (%) 283.89
12.28 PFCF 43.96
Revenue Growth (3Y)(%) 25.10
M-Score: POCF 40.03
-2.71 EBITDA Growth (3Y)(%) 31.80
EV-to-EBIT 52.26
WACC vs 8.10% EPS Growth (3Y)(%) 37.30
ROIC 28.48% PEG 1.48
WACC
ROIC Shiller P/E 141.82
Current Ratio 0.79
Quick Ratio 0.79
Days Sales Outstanding 50.15
Warning Signs Quarterly Revenues Company Description
Price: Close to 10-year high Mar Jun Sep Dec Full Year Adobe Inc provides content creation, document management, and digital marketing and advertising software and
services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing and
2016 1,383 1,399 1,464 1,608 5,854 engaging with compelling content multiple operating systems, devices and media. The company operates with three
PS Ratio: Close to 10-year
2017 1,682 1,772 1,841 2,007 7,302 segments: digital media content creation, digital experience for marketing solutions, and publishing for legacy
high products (less than 5% of revenue).... (Read More)
2018 2,079 2,195 2,291 2,465 9,030
Competitors: NYSE:ORCL , NYSE:VMW, NYSE:SQ, XAMS:ADYEN, SHSE:601360 , NYSE:FLT, NAS:SPLK,
Insider Sell: Insider Selling 2019 2,601 2,744 2,834 2,992 11,171 NAS:VRSN, NYSE:PANW, NYSE:TSS, NAS:SNPS, NAS:FTNT, NAS:AKAM, NAS:OKTA, XPAR:WLN, NYSE:GDDY,
2020 NAS:CRWD, NAS:NLOK, NYSE:PAGS, NYSE:BKI
Good Signs Quarterly Earnings per Share Insider Trades
Operating Margin %: Mar Jun Sep Dec Full Year
Expansion 2016 0.50 0.48 0.54 0.80 2.32
2017 0.80 0.75 0.84 1.00 3.39
2018 1.17 1.33 1.34 1.37 5.21
DCF 2019 1.36 1.29 1.61 1.74 6.00
GuruFocus does not 2020
calculate intrinsic value: DCF Quarterly Dividends Per Share
(Earnings Based) for
companies with one star Mar Jun Sep Dec Full Year
predictability or not rated. But 2016 0.00 0.00 0.00 0.00 0.00
you can go to each stock's 2017 0.00 0.00 0.00 0.00 0.00
DCF page to calculate 2018 0.00 0.00 0.00 0.00 0.00
yourself. 2019 0.00 0.00 0.00 0.00 0.00
2020
Reverse DCF Growth Rate
GuruFocus does not Annual Rates(per share) 10-Y 5-Y 12-M
calculate reverse DCF growth Revenue Growth (%) 12.70 23.20 25.30
rate for companies with one
EBITDA Growth (%) 13.80 40.60 28.50
star predictability or not rated.
But you can go to each Free Cash Flow Growth (%) 16.20 33.40 8.40
stock's DCF page to calculate Book Value Growth (%) 7.70 10.30 13.70
yourself. EPS Growth (%) 19.10 61.70 15.40
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADBE 1/7
Per Share Data
Nov04 Nov05 Nov06 Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 TTM Fiscal Period
3.37 3.88 4.21 5.27 6.53 5.55 7.23 8.37 8.76 7.90 8.16 9.46 11.61 14.57 18.14 22.73 22.73 Revenue per Share
1.36 1.60 1.44 1.96 2.48 1.86 2.46 2.72 2.96 1.45 1.45 2.52 3.64 5.07 6.49 8.34 8.34 EBITDA per Share
1.20 1.44 0.93 1.43 1.98 1.33 1.90 2.19 2.36 0.83 0.83 1.85 2.99 4.41 5.79 6.84 6.84 EBIT per Share
0.91 1.19 0.83 1.21 1.59 0.73 1.47 1.65 1.66 0.56 0.53 1.24 2.32 3.38 5.20 6.00 6.00 Earnings per Share (diluted)
0.91 1.19 0.83 1.21 1.59 0.73 1.47 1.65 1.66 0.56 0.53 1.24 2.32 3.38 5.20 6.00 6.00 eps without NRI
1.14 1.25 1.16 1.88 1.84 1.64 1.49 2.21 2.12 1.22 1.52 2.08 3.49 4.61 6.58 7.11 7.11 Owner Earnings per Share (TTM)
1.30 1.40 1.38 2.18 2.13 1.88 1.79 2.65 2.44 1.88 2.24 2.53 3.96 5.46 7.56 8.19 8.20 Free Cashflow per Share
0.03 0.01 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Dividends per Share
2.92 3.15 8.77 8.14 8.38 9.36 10.35 11.77 13.49 13.55 13.62 14.07 15.02 17.22 19.20 21.83 21.83 Book Value per Share
2.66 2.92 4.25 3.67 3.92 1.66 2.04 2.83 4.02 2.72 3.19 2.26 3.25 4.59 -6.74 -3.90 -3.90 Tangible Book per Share
-- -- -- -- 0.67 1.91 3.03 3.08 3.05 3.05 3.04 3.83 3.83 3.83 8.46 8.58 8.58 Total Debt per Share
30.28 32.61 40.16 42.14 23.16 35.08 27.80 27.42 34.61 56.78 73.68 91.46 103 177 251 310 360 Month End Stock Price
Ratios
Nov04 Nov05 Nov06 Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 TTM Fiscal Period
35.69 36.67 14.42 14.77 19.24 8.31 15.37 15.18 13.38 4.33 3.98 9.14 16.20 21.33 29.07 29.67 29.55 Return on Equity %
25.64 27.41 12.04 12.40 15.12 5.90 10.05 9.72 8.75 2.84 2.54 5.59 9.57 12.44 15.56 14.93 14.94 Return on Assets %
670 717 345 332 361 201 239 226 199 63.99 58.29 119 188 252 287 284 284 Return on Capital %
765 419 28.00 23.73 31.76 11.99 20.28 22.31 19.43 7.54 6.68 13.74 25.67 37.85 35.64 29.01 28.48 Return on Invested Capital %
13.86 11.87 15.52 16.62 13.88 13.22 11.59 10.47 8.70 10.81 9.13 8.62 9.00 8.20 9.06 8.76 8.10 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.73 0.50 4.52 4.41 4.47 4.47 3.94 3.75 3.71 3.94 2.97 3.81 3.80 Effective Interest Rate on Debt %
93.74 94.27 88.64 88.77 89.87 89.93 89.38 89.61 89.01 85.54 85.00 84.48 86.00 86.16 86.77 85.03 85.03 Gross Margin %
35.51 37.05 22.17 27.17 29.62 24.84 26.75 28.39 26.73 11.08 10.43 18.83 25.51 29.69 31.45 29.25 29.25 Operating Margin %
27.03 30.66 19.64 22.92 24.35 13.12 20.39 19.75 18.91 7.15 6.47 13.13 19.96 23.20 28.69 26.42 26.42 Net Margin %
38.50 36.08 32.77 41.40 32.65 33.88 24.83 31.62 27.90 23.76 27.47 26.79 34.09 37.45 41.67 36.05 36.05 FCF Margin %
-- -- -- -- 0.08 0.20 0.29 0.26 0.23 0.23 0.22 0.27 0.26 0.22 0.44 0.39 0.39 Debt to Equity
0.73 0.76 0.86 0.81 0.76 0.67 0.64 0.64 0.66 0.65 0.63 0.60 0.59 0.58 0.50 0.51 0.51 Total Equity to Total Asset
-- -- -- -- 0.06 0.14 0.19 0.17 0.15 0.15 0.14 0.16 0.15 0.13 0.22 0.20 0.20 Total Debt to Total Asset
88.92 84.28 54.33 48.02 55.78 40.43 44.04 44.11 41.19 33.97 33.31 35.99 41.23 46.20 47.05 48.06 48.09 Gross Profit to Total Asset %
0.95 0.89 0.61 0.54 0.62 0.45 0.49 0.49 0.46 0.40 0.39 0.43 0.48 0.54 0.54 0.57 0.57 Asset Turnover
0.03 0.01 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Dividend Payout Ratio
31.09 32.16 50.57 36.77 47.64 50.91 53.24 54.92 51.16 53.99 52.09 51.15 51.94 60.89 53.18 50.15 50.15 Days Sales Outstanding
151 133 68.68 68.81 56.20 72.46 47.43 72.24 37.54 38.64 40.12 45.76 39.19 41.01 56.89 45.71 45.71 Days Accounts Payable
-120 -101 -18.11 -32.04 -8.56 -21.55 5.81 -17.32 13.62 15.35 11.97 5.39 12.75 19.88 -3.71 4.44 4.44 Cash Conversion Cycle
0.06 0.06 0.11 0.11 0.10 0.10 0.11 0.10 0.11 0.14 0.15 0.16 0.14 0.14 0.13 0.15 0.15 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADBE 2/7
Income Statement
Nov04 Nov05 Nov06 Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 TTM Fiscal Period
1,667 1,966 2,575 3,158 3,580 2,946 3,800 4,216 4,404 4,055 4,147 4,796 5,854 7,302 9,030 11,171 11,171 Revenue
104 113 292 355 363 297 404 438 484 587 622 744 820 1,010 1,195 1,673 1,673 Cost of Goods Sold
1,562 1,854 2,283 2,803 3,217 2,649 3,396 3,778 3,920 3,469 3,525 4,051 5,035 6,291 7,835 9,499 9,499 Gross Profit
93.74 94.27 88.64 88.77 89.87 89.93 89.38 89.61 89.01 85.54 85.00 84.48 86.00 86.16 86.77 85.03 85.03 Gross Margin %
659 760 1,102 1,259 1,427 1,281 1,628 1,800 1,951 2,141 2,196 2,217 2,486 2,822 3,366 4,125 4,125 Selling, General, & Admin. Expense
311 365 540 613 662 565 680 738 743 827 844 863 976 1,224 1,538 1,930 1,930 Research & Development
-0.00 -- 69.87 72.43 68.25 71.56 72.13 42.83 48.66 52.25 52.42 68.65 78.53 76.56 91.10 175 175 Other Operating Expense
592 728 571 858 1,060 732 1,016 1,197 1,177 449 433 903 1,494 2,168 2,840 3,268 3,268 Operating Income
35.51 37.05 22.17 27.17 29.62 24.84 26.75 28.39 26.73 11.08 10.43 18.83 25.51 29.69 31.45 29.25 29.25 Operating Margin %
-- -- -- -- 43.85 34.98 21.92 24.51 24.55 21.89 21.36 28.76 47.34 66.07 92.54 68.32 68.32 Interest Income
-- -- -- -- -10.02 -3.41 -56.95 -66.95 -67.49 -67.51 -59.73 -64.18 -70.44 -74.40 -89.24 -157 -157 Interest Expense
-- -- -- -- 33.83 31.57 -35.03 -42.45 -42.94 -45.62 -38.38 -35.43 -23.10 -8.33 3.30 -88.89 -88.89 Net Interest Income
16.85 37.34 109 89.05 -15.64 -61.82 -38.16 -119 -15.54 -47.46 -32.82 6.11 -35.36 -22.12 -49.79 25.51 25.51 Other Income (Expense)
609 766 680 947 1,079 702 943 1,035 1,119 356 361 874 1,435 2,138 2,794 3,205 3,205 Pre-Tax Income
-158 -163 -174 -223 -207 -315 -168 -202 -286 -66.16 -92.98 -244 -266 -444 -203 -253 -253 Tax Provision
26.00 21.28 25.59 23.58 19.16 44.90 17.86 19.55 25.56 18.58 25.73 27.95 18.56 20.76 7.27 7.90 7.90 Tax Rate %
450 603 506 724 872 387 775 833 833 290 268 630 1,169 1,694 2,591 2,951 2,951 Net Income (Continuing Operations)
450 603 506 724 872 387 775 833 833 290 268 630 1,169 1,694 2,591 2,951 2,951 Net Income
27.03 30.66 19.64 22.92 24.35 13.12 20.39 19.75 18.91 7.15 6.47 13.13 19.96 23.20 28.69 26.42 26.42 Net Margin %
0.94 1.23 0.85 1.24 1.62 0.74 1.49 1.67 1.68 0.58 0.54 1.26 2.35 3.43 5.28 6.07 6.07 EPS (Basic)
0.91 1.19 0.83 1.21 1.59 0.73 1.47 1.65 1.66 0.56 0.53 1.24 2.32 3.38 5.20 6.00 6.00 EPS (Diluted)
495 507 612 599 549 531 526 504 503 513 508 507 504 501 498 492 489 Shares Outstanding (Diluted
Average)
81.87 82.78 308 315 270 282 293 270 300 321 314 339 332 326 346 737 737 Depreciation, Depletion and
Amortization
674 811 879 1,174 1,359 987 1,293 1,372 1,486 745 735 1,277 1,837 2,538 3,230 4,099 4,099 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADBE 3/7
Balance Sheet
Nov04 Nov05 Nov06 Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 TTM Fiscal Period
259 421 773 946 886 999 750 990 1,425 835 1,117 877 1,011 2,306 1,643 2,650 2,650 Cash And Cash Equivalents
1,054 1,280 1,508 1,047 1,133 905 1,718 1,922 2,113 2,339 2,622 3,112 3,750 3,514 1,586 1,527 1,527 Marketable Securities
1,313 1,701 2,281 1,994 2,019 1,904 2,468 2,912 3,538 3,174 3,739 3,988 4,761 5,820 3,229 4,177 4,177 Cash, Cash Equivalents, Marketable
Securities
142 173 357 318 467 411 554 634 617 600 592 672 833 1,218 1,316 1,535 1,535 Accounts Receivable
70.37 103 195 216 249 158 194 225 241 272 271 162 245 210 312 783 783 Other Current Assets
1,551 2,009 2,884 2,573 2,735 2,474 3,216 3,771 4,397 4,046 4,602 4,822 5,840 7,248 4,857 6,495 6,495 Total Current Assets
-- -- -- -- 207 207 207 207 207 207 80.44 80.44 80.44 -- -- -- -- Investments And Advances
-- -- 35.35 67.91 74.84 86.49 110 114 115 106 106 70.73 77.34 77.72 145 145 145 Land And Improvements
60.64 77.71 156 177 62.46 99.85 99.85 99.85 175 175 320 548 585 756 771 790 790 Buildings And Improvements
228 235 287 320 387 472 555 657 787 815 938 1,029 1,146 1,244 1,360 1,568 1,568 Machinery, Furniture, Equipment
18.12 0.57 2.36 15.80 7.27 19.93 20.81 44.22 63.98 54.59 68.65 12.39 7.65 5.58 23.03 112 112 Construction In Progress
307 313 482 581 666 831 974 1,154 1,399 1,448 1,699 1,759 1,926 2,203 2,481 2,862 2,862 Gross Property, Plant and Equipment
-207 -209 -254 -291 -353 -443 -525 -626 -734 -788 -914 -971 -1,110 -1,267 -1,406 -1,569 -1,569 Accumulated Depreciation
99.68 104 227 290 313 388 449 528 664 660 785 787 816 937 1,075 1,293 1,293 Property, Plant and Equipment
126 135 2,656 2,551 2,350 4,022 4,171 4,395 4,678 5,377 5,192 5,877 5,821 6,207 12,650 12,412 12,412 Intangible Assets
-- -- 2,149 2,148 2,135 3,495 3,642 3,849 4,133 4,772 4,722 5,367 5,406 5,822 10,581 10,691 10,691 Goodwill
182 193 195 300 217 191 98.35 89.92 93.33 90.12 126 160 140 144 187 563 563 Other Long Term Assets
1,959 2,440 5,963 5,714 5,822 7,282 8,141 8,991 10,040 10,380 10,786 11,726 12,697 14,536 18,769 20,762 20,762 Total Assets
43.19 41.04 55.03 66.87 55.84 58.90 52.43 86.66 49.76 62.10 68.38 93.31 88.02 114 186 209 209 Accounts Payable
-- -- -- -- 27.14 58.51 53.72 69.37 76.05 28.45 48.58 34.16 81.48 63.75 93.23 139 139 Total Tax Payable
246 268 369 454 519 399 679 530 456 417 473 467 527 865 1,070 1,313 1,313 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- 8.80 9.21 11.22 14.68 603 -- -- -- -- 3,149 3,149 Current Portion of Long-Term Debt
59.54 57.84 130 183 244 282 381 476 561 776 1,098 1,434 1,946 2,406 2,916 3,378 3,378 Current Deferred Revenue
59.54 57.84 130 183 244 282 381 476 561 776 1,098 1,434 1,946 2,406 2,916 3,378 3,378 DeferredTaxAndRevenue
146 155 178 215 0.00 164 -- 236 243 318 321 313 339 257 315 350 350 Other Current Liabilities
451 480 677 852 763 845 1,068 1,251 1,272 1,526 2,494 2,214 2,812 3,527 4,301 8,191 8,191 Total Current Liabilities
-- -- -- -- 350 1,000 1,514 1,495 1,495 1,496 911 1,907 1,892 1,881 4,125 989 989 Long-Term Debt
-- -- -- -- -- -- -- 10.47 1.63 3.27 -- -- -- -- -- -- -- Capital Lease Obligation
-- -- -- -- 350 1,000 1,514 1,505 1,497 1,499 911 1,907 1,892 1,881 4,125 989 989 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- 0.08 0.20 0.29 0.26 0.23 0.23 0.22 0.27 0.26 0.22 0.44 0.39 0.39 Debt to Equity
78.91 78.80 70.72 149 149 289 152 237 389 429 400 259 287 369 184 263 263 NonCurrent Deferred Liabilities
4.84 16.79 62.61 62.34 150 258 215 215 217 202 205 345 282 298 796 789 789 Other Long-Term Liabilities
535 576 811 1,064 1,411 2,392 2,949 3,208 3,375 3,656 4,010 4,725 5,272 6,076 9,407 10,232 10,232 Total Liabilities
29.58 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 Common Stock
2,239 2,839 3,318 4,042 4,913 5,300 5,981 6,529 7,003 6,929 6,924 7,253 8,115 9,574 11,816 14,829 14,829 Retained Earnings
-2.29 -0.91 6.34 27.95 57.22 24.45 17.43 29.95 30.71 46.10 -8.09 -169 -174 -112 -148 -188 -188 Accumulated other comprehensive
income (loss)
1,165 1,351 2,452 2,341 2,397 2,390 2,458 2,754 3,039 3,393 3,778 4,185 4,616 5,082 5,685 6,505 6,505 Additional Paid-In Capital
-2,007 -2,324 -624 -1,761 -2,957 -2,824 -3,264 -3,530 -3,407 -3,643 -3,919 -4,268 -5,132 -6,084 -7,991 -10,615 -10,615 Treasury Stock
1,423 1,864 5,152 4,650 4,410 4,891 5,192 5,783 6,665 6,725 6,776 7,002 7,425 8,460 9,362 10,530 10,530 Total Equity
0.73 0.76 0.86 0.81 0.76 0.67 0.64 0.64 0.66 0.65 0.63 0.60 0.59 0.58 0.50 0.51 0.51 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADBE 4/7
Cashflow Statement
Nov04 Nov05 Nov06 Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 TTM Fiscal Period
450 603 506 724 872 387 775 833 833 290 268 630 1,169 1,694 2,591 2,951 2,951 Net Income
450 603 506 724 872 387 775 833 833 290 268 630 1,169 1,694 2,591 2,951 2,951 Net Income From Continuing
Operations
81.87 82.78 308 315 270 282 293 270 300 321 314 339 332 326 346 737 737 Depreciation, Depletion and
Amortization
9.22 -36.09 -113 -103 -153 172 -134 -81.07 45.17 33.65 7.93 -79.50 -160 -187 -1.98 -188 -188 Change In Receivables
4.91 -10.59 12.43 -2.52 -5.58 21.81 -39.96 -5.10 4.55 -55.51 -1.92 -7.70 -71.02 28.04 -77.23 -531 -531 Change In Prepaid Assets
5.76 -2.46 11.79 11.55 -33.15 35.39 42.26 62.77 -127 -16.86 63.63 98.24 102 71.43 578 199 199 Change In Payables And Accrued
Expense
30.28 -6.21 -53.83 71.83 -126 184 -22.64 77.71 10.41 163 396 332 396 388 943 -22.94 -22.94 Change In Working Capital
46.27 -7.07 -4.26 58.39 46.58 93.97 -172 51.42 89.21 29.70 -26.09 -69.66 24.22 51.61 -469 2.71 2.71 Change In DeferredTax
-- -- -- -- 172 168 231 286 299 329 334 336 349 454 610 788 788 Stock Based Compensation
95.99 86.05 172 270 45.79 2.96 9.45 25.04 -31.08 -4.01 1.81 -97.56 -69.94 -0.87 7.99 -33.80 -33.80 Cash Flow from Others
705 758 927 1,439 1,281 1,118 1,113 1,543 1,500 1,152 1,287 1,470 2,200 2,913 4,029 4,422 4,422 Cash Flow from Operations
-63.23 -48.88 -83.25 -132 -112 -120 -170 -210 -271 -188 -148 -185 -204 -178 -267 -394 -394 Purchase Of Property, Plant,
Equipment
5.93 -- -- -- -- -- 32.15 -- -- 24.26 -- 57.78 -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -3.58 -1,583 -193 -259 -353 -705 -29.80 -826 -48.43 -460 -6,314 -101 -4,781 Purchase Of Business
-1,902 -1,882 -1,620 -2,694 -2,506 -1,337 -2,629 -1,927 -1,806 -2,126 -2,032 -2,088 -2,344 -1,961 -585 -749 -749 Purchase Of Investment
1,750 1,600 1,459 2,986 2,317 1,542 1,800 1,639 1,596 1,817 1,719 1,552 1,636 2,156 2,480 788 788 Sale Of Investment
-142 -17.80 439 -76.38 -- 0.00 0.00 -0.00 -0.00 -- -- -- 0.00 -- -0.00 -- -0.89 Cash From Other Investing Activities
-351 -348 195 83.29 -305 -1,497 -1,159 -757 -835 -1,178 -491 -1,488 -960 -443 -4,685 -456 -456 Cash Flow from Investing
396 357 510 516 319 180 139 145 235 598 228 164 146 158 191 233233 Issuance of Stock
-609 -600 -1,364 -1,952 -1,723 -350 -850 -695 -405 -1,100 -600 -625 -1,075 -1,100 -2,050 -2,750 -2,750 Repurchase of Stock
-- -- -- -- 350 636 490 -10.05 -6.70 -0.18 -14.68 387 -0.11 -- 2,248 -- -3.22 Net Issuance of Debt
-11.94 -3.04 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Cash Flow for Dividends
-- -- 80.23 85.05 31.98 11.98 5.77 9.95 -58.27 -57.16 -120 -127 -161 -242 -395 -429 -426 Other Financing
-225 -247 -775 -1,350 -1,022 478 -215 -550 -235 -559 -507 -201 -1,091 -1,184 -5.57 -2,946 -2,946 Cash Flow from Financing
133 162 352 174 -59.97 113 -250 240 436 -590 283 -241 135 1,295 -663 1,007 1,007 Net Change in Cash
-63.23 -48.88 -83.25 -132 -112 -120 -170 -210 -271 -188 -148 -185 -204 -178 -267 -394 -394 Capital Expenditure
642 710 844 1,307 1,169 998 943 1,333 1,229 963 1,139 1,285 1,996 2,735 3,763 4,027 4,027 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADBE 5/7
Valuation Ratios
Nov04 Nov05 Nov06 Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 TTM Fiscal Period
33.46 27.40 48.39 34.83 14.57 47.41 18.78 16.62 20.85 99.61 150 73.76 44.31 52.17 48.16 51.59 60.05 PE Ratio(TTM)
26.51 26.00 34.65 22.43 12.62 21.43 18.67 12.38 16.29 46.50 48.38 44.06 29.50 38.34 38.16 43.57 50.71 Price to Owner Earnings
(TTM)
10.39 10.35 4.58 5.18 2.76 3.75 2.69 2.33 2.57 4.19 5.41 6.50 6.84 10.27 13.07 14.18 16.50 Price to Book
11.40 11.16 9.45 11.47 5.91 21.11 13.65 9.71 8.61 20.91 23.13 40.49 31.68 38.57 -- -- -- Price to Tangible Book
23.38 23.26 29.10 19.26 10.88 18.54 15.46 10.34 14.14 30.17 32.83 36.05 25.94 32.38 33.17 37.77 43.96 Price-to-Free-Cash-Flow
Ratio
21.26 21.75 26.51 17.49 9.93 16.56 13.10 8.93 11.58 25.25 29.05 31.51 23.55 30.40 30.97 34.39 40.03 Price-to-Operating-Cash-
Flow Ratio
8.99 8.40 9.54 7.97 3.54 6.28 3.84 3.27 3.94 7.17 9.02 9.66 8.85 12.13 13.82 13.62 15.85 PS Ratio
4.37 2.18 2.48 1.86 0.85 3.90 2.07 1.54 3.07 184 -- -- 39.92 2.42 1.13 1.29 1.48 PEG Ratio
8.09 8.95 8.27 6.99 2.94 5.92 3.42 2.87 3.42 6.54 8.30 9.06 8.19 11.36 13.65 13.36 15.73 EV-to-Revenue
20.00 21.68 24.24 18.82 7.74 17.65 10.06 8.80 10.14 35.60 46.86 34.01 26.10 32.68 38.16 36.42 42.86 EV-to-EBITDA
22.77 24.15 37.30 25.74 9.66 24.73 13.01 10.96 12.71 62.59 81.76 46.32 31.84 37.50 42.75 44.40 52.26 EV-to-EBIT
4.39 4.14 2.68 3.89 10.35 4.04 7.69 9.12 7.87 1.60 1.22 2.16 3.14 2.67 2.34 2.25 1.91 Return on Capital %
10.45 15.59 22.26 22.08 24.30 17.24 15.83 18.56 13.14 4.32 -5.10 -8.79 3.69 21.82 21.69 21.75 21.50 Forward Rate of Return
65.85 56.43 63.00 56.21 26.08 38.20 27.74 23.84 26.89 43.74 59.15 73.98 74.42 109 126 122 142 Shiller PE Ratio
0.08 0.04 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Dividend Yield %
Valuation and Quality
Nov04 Nov05 Nov06 Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 TTM Fiscal Period
14,789 19,290 23,583 24,079 12,185 18,335 13,953 13,478 17,102 28,178 36,655 45,530 50,814 86,880 122,350 149,298 175,718 Market Cap
13,476 17,589 21,302 22,085 10,516 17,430 13,007 12,081 15,072 26,518 34,429 43,449 47,945 82,941 123,246 149,260 175,679 Enterprise Value
30.28 32.61 40.16 42.14 23.16 35.08 27.80 27.42 34.61 56.78 73.68 91.46 103 177 251 310 360 Month End Stock Price
1.59 1.90 2.50 1.63 1.16 -0.93 -0.96 -0.60 0.33 -0.97 -0.54 -1.48 -1.03 -0.52 -12.67 -12.55 -12.55 Net Cash (per share)
2.08 2.42 3.53 2.64 2.52 0.16 0.53 1.15 2.07 0.79 1.19 0.19 1.15 2.39 -9.33 -7.75 -7.75 Net Current Asset Value
(per share)
1.81 2.12 2.96 2.05 1.82 -0.34 -0.13 0.36 1.27 -0.06 0.35 -0.47 0.23 1.34 -10.64 -10.17 -10.17 Net-Net Working Capital
(per share)
12.71 16.16 19.97 23.98 29.99 34.27 36.79 42.20 41.71 31.64 31.29 32.60 38.93 59.68 74.49 92.96 92.96 Projected FCF (per share)
20.20 26.07 30.65 41.42 51.25 42.79 52.04 58.59 58.73 50.32 51.90 60.16 73.84 92.67 135 206 206 Median PS (per share)
6.92 14.98 16.21 22.70 27.36 8.99 13.42 17.85 11.27 -- -- -- -- 73.16 130 150 150 Peter Lynch Fair Value (per
share)
7.38 8.85 8.91 10.00 11.84 5.22 8.21 10.24 12.25 5.85 6.16 7.94 13.01 18.67 -- -- -- Graham Number (per share)
10.13 12.15 12.40 14.71 18.64 17.39 18.90 22.87 24.67 21.89 24.03 23.32 26.52 32.62 32.87 49.47 49.47 Earnings Power Value
(EPV)
20.73 24.32 19.49 16.03 7.99 6.61 5.06 4.75 5.22 6.38 7.13 7.59 7.82 10.81 9.71 10.73 12.28 Altman Z-Score
8.00 7.00 6.00 6.00 8.00 5.00 7.00 7.00 5.00 4.00 5.00 7.00 8.00 8.00 7.00 5.00 5.00 Piotroski F-Score
-2.76 -2.59 -0.88 -3.17 -2.50 -3.01 -2.46 -2.65 -2.79 -2.86 -2.96 -2.70 -2.68 -2.49 -2.56 -2.71 -2.71 Beneish M-Score
0.07 0.08 1.18 0.45 0.48 0.69 0.58 0.54 0.52 0.50 0.44 0.46 0.39 0.36 0.71 0.56 0.52 Scaled Net Operating
Assets
4.95 7.90 -10.34 -13.98 -1.79 10.52 10.08 0.52 1.67 3.05 -4.90 5.53 -0.56 -5.34 17.30 -4.89 -4.89 Sloan Ratio (%)
3.44 4.18 4.26 3.02 3.59 2.93 3.01 3.02 3.46 2.65 1.85 2.18 2.08 2.05 1.13 0.79 0.79 Current Ratio
3.44 4.18 4.26 3.02 3.59 2.93 3.01 3.02 3.46 2.65 1.85 2.18 2.08 2.05 1.13 0.79 0.79 Quick Ratio
30.44 34.20 42.55 48.00 45.89 36.90 37.86 35.86 34.70 57.55 73.68 92.17 111 185 275 311 387 Highest Stock Price
17.20 25.91 26.46 37.52 20.75 15.98 25.60 22.69 26.46 34.70 53.99 69.74 73.85 99.51 168 205 249 Lowest Stock Price
-2.40 -21.12 0.73 2.69 7.93 0.66 3.97 2.06 -0.53 -0.43 -0.25 -0.07 0.71 0.61 0.73 1.09 1.09 Shares Buyback Ratio (%)
25.59 15.30 8.35 25.39 23.74 -14.92 30.17 15.77 4.70 -9.84 3.27 15.94 22.77 25.51 24.49 25.29 25.21 YoY Rev. per Sh. Growth
(%)
65.45 30.77 -30.25 45.78 31.40 -54.09 101 12.24 0.61 -66.27 -5.36 134 87.10 45.69 53.85 15.38 15.16 YoY EPS Growth (%)
53.61 17.63 -10.31 36.49 26.38 -24.87 32.13 10.74 8.56 -50.91 -0.41 74.33 44.62 39.03 28.08 28.53 28.51 YoY EBITDA Growth (%)
7.65 12.59 19.53 18.76 17.21 12.15 9.07 10.82 6.79 0.54 -8.06 -11.34 1.11 21.58 42.55 39.93 40.60 EBITDA 5-Y Growth (%)
479 490 594 584 539 524 519 497 495 501 498 499 498 494 491 486 484 Shares Outstanding (Basic
Average)
488 592 587 571 526 523 502 492 494 496 497 498 494 491 488 482 488 Shares Outstanding (EOP)
1.58 1.23 1.84 2.11 1.86 1.72 1.53 1.50 1.26 1.41 1.20 1.11 1.14 0.98 1.02 1.18 1.18 Beta
02/02/05 02/08/06 02/05/07 01/24/08 01/23/09 01/22/10 01/27/11 01/26/12 01/22/13 01/21/14 01/20/15 01/19/16 01/20/17 01/22/18 01/25/19 01/21/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADBE 6/7
02/08/06 02/05/07 02/05/07 01/24/08 01/22/10 01/27/11 01/22/13 01/21/14 01/20/15 01/19/16 01/20/17 01/22/18 01/25/19 01/21/20 01/21/20 01/21/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADBE 7/7
Church & Dwight Co Inc (NYSE:CHD) 03/02/2020 4:10PM EST GuruFocus
Price: $ 74.96 +5.44(+7.83%) Market Cap: $ 18.41 B Enterprise Value: $20.32 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 30.60
Cash to Debt 0.08 Operating margin (%) 19.28
Forward P/E N/A
Equity to Asset 0.40 Net-margin (%) 14.13
PE(NRI) 30.60
Interest Coverage 11.42 ROE (%) 24.09
F-Score:
P/B 6.90
ROA (%) 9.64
8 P/S 4.34
Z-Score: ROC (Joel Greenblatt) (%) 139.58
4.71 PFCF 23.90
Revenue Growth (3Y)(%) 9.10
M-Score: POCF 21.87
-2.62 EBITDA Growth (3Y)(%) 8.20
EV-to-EBIT 23.98
WACC vs 1.57% EPS Growth (3Y)(%) 11.70
ROIC 14.87% PEG 3.56
WACC
ROIC Shiller P/E 41.16
Current Ratio 0.88
Quick Ratio 0.49
Days Inventory 61.20
Days Sales Outstanding 29.85
Warning Signs Quarterly Revenues Company Description
Dividend Yield %: Close to 5- Mar Jun Sep Dec Full Year Church & Dwight is the leading producer of baking soda in the world. Around a dozen of its products are sold under
the Arm & Hammer brand umbrella, such as baking soda, toothpaste, cat litter, and carpet cleaner. Its mix also
year low 2016 849 877 871 896 3,493 includes Xtra, Trojan, OxiClean, First Response, Nair, L'il Critters/Vitafusion, and Orajel--together constituting more
2017 877 898 968 1,033 3,776 than 80% of its annual sales and profits. About two years ago, the firm announced the addition of Water Pik, which
Price: Close to 10-year high manufactures oral water flossers and replacement showerheads, to its mix. Church & Dwight derives about 85% of its
2018 1,006 1,028 1,038 1,074 4,146 sales from its home turf.... (Read More)
PE Ratio: Close to 10-year 2019 1,045 1,079 1,089 1,144 4,358 Competitors: XKRX:051900 , TSE:8113 , NYSE:CLX, ISX:UNVR, OSTO:ESSITY B, BSP:NTCO3 , TSE:4911 ,
high 2020 BOM:500096, XTER:BEI, XKRX:090430, HKSE:01044, BOM:532424, NYSE:COTY, NAS:NWL, TSE:4922,
MEX:KIMBER A, TSE:4967, BOM:531642, TSE:4912, BOM:500830
PB Ratio: Close to 10-year Quarterly Earnings per Share
high Insider Trades
Mar Jun Sep Dec Full Year
PS Ratio: Close to 10-year 2016 0.43 0.43 0.47 0.42 1.75
high 2017 0.51 0.29 0.52 1.60 2.92
2018 0.63 0.49 0.58 0.57 2.27
Long-Term Debt: Issuing new
2019 0.70 0.55 0.62 0.58 2.45
debt
2020
Insider Sell: Insider Selling
Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
Good Signs 2016 0.18 0.18 0.18 0.18 0.71
Piotroski F-Score: High 2017 0.19 0.19 0.19 0.19 0.76
2018 0.22 0.22 0.22 0.22 0.87
Revenue per Share: 2019 0.23 0.23 0.23 0.23 0.91
Consistent growth 2020
PB Ratio: Close to 1-year low Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
DCF
Revenue Growth (%) 7.40 8.10 4.50
EPS without NRI: $2.45 EBITDA Growth (%) 9.00 8.60 8.30
Growth Rate in the next 10
Free Cash Flow Growth (%) 12.00 12.30 11.80
years: 12.20%
Terminal Growth Rate for 10 Book Value Growth (%) 5.20 7.40 9.40
years: 4% EPS Growth (%) 12.20 12.30 7.50
Fair Value: $41.71
Reverse DCF
Expected eps Growth Rate:
21.09%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHD 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5.37 6.27 7.06 7.90 8.52 8.82 8.97 9.43 10.24 11.31 11.99 12.71 13.33 14.75 16.54 17.29 17.29 Revenue per Share
0.77 0.93 1.10 1.29 1.50 1.80 1.79 1.99 2.25 2.54 2.70 2.87 3.21 3.40 3.75 4.06 4.06 EBITDA per Share
0.63 0.77 0.91 1.09 1.25 1.50 1.55 1.73 1.95 2.22 2.37 2.49 2.80 2.91 3.19 3.36 3.36 EBIT per Share
0.34 0.46 0.52 0.62 0.70 0.85 0.94 1.06 1.23 1.40 1.51 1.54 1.75 2.90 2.27 2.44 2.45 Earnings per Share (diluted)
0.34 0.46 0.52 0.62 0.70 0.85 0.94 1.06 1.23 1.40 1.51 1.54 1.75 2.90 2.27 2.44 2.45 eps without NRI
0.55 0.39 0.50 0.76 0.94 1.12 1.20 1.25 1.58 1.45 1.74 1.94 2.36 2.30 2.73 3.13 3.13 Owner Earnings per Share (TTM)
0.60 0.55 0.50 0.71 0.84 0.93 1.26 1.24 1.57 1.53 1.71 2.04 2.31 2.49 2.81 3.14 3.14 Free Cashflow per Share
0.05 0.06 0.07 0.08 0.09 0.12 0.16 0.30 0.48 0.56 0.62 0.67 0.71 0.76 0.87 0.91 0.91 Dividends per Share
2.22 2.71 3.30 4.07 4.75 5.68 6.57 7.17 7.43 8.28 7.88 7.78 7.79 8.96 9.94 10.87 10.87 Book Value per Share
-1.69 -1.45 -1.93 -1.03 -1.16 -0.11 0.50 0.94 -1.47 -0.46 -1.86 -2.31 -3.54 -8.33 -7.34 -8.81 -8.81 Tangible Book per Share
3.40 2.94 3.57 3.22 3.05 2.89 1.19 0.89 3.25 2.89 4.07 4.04 4.41 9.59 8.54 8.41 8.41 Total Debt per Share
8.41 8.26 10.66 13.52 14.03 15.11 17.26 22.88 26.79 33.14 39.41 42.44 44.19 50.17 65.76 70.34 74.96 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17.79 19.56 17.80 17.39 16.19 16.61 15.59 15.83 17.06 18.09 18.81 19.90 22.94 35.43 24.34 24.05 24.09 Return on Equity %
5.93 6.40 6.47 6.95 7.32 8.23 8.93 10.21 9.70 9.44 9.60 9.53 10.66 14.34 9.41 9.68 9.64 Return on Assets %
46.97 51.21 56.83 60.51 66.76 75.93 76.90 83.86 83.45 88.06 91.99 97.02 117 119 123 141 140 Return on Capital %
11.77 11.49 10.91 11.54 11.72 12.32 14.43 15.18 15.08 15.71 15.81 15.81 16.66 21.77 14.62 15.17 14.87 Return on Invested Capital %
4.35 4.86 7.67 2.49 3.67 5.20 5.68 4.36 3.68 3.73 5.68 6.27 4.36 3.81 3.27 2.23 1.57 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.48 4.25 4.81 2.94 2.42 3.25 2.90 2.86 2.55 3.01 3.54 3.53 3.51 Effective Interest Rate on Debt %
36.48 36.68 39.12 39.08 40.11 43.67 44.72 44.17 44.20 45.02 44.06 44.53 45.54 45.80 44.40 45.53 45.53 Gross Margin %
11.75 12.25 12.96 13.73 14.05 15.59 17.19 17.92 18.66 19.48 19.44 19.86 20.73 19.40 19.10 19.28 19.28 Operating Margin %
6.07 7.08 7.14 7.61 8.06 9.66 10.45 11.26 11.97 12.35 12.55 12.09 13.14 19.69 13.71 14.13 14.13 Net Margin %
11.18 8.77 7.14 9.00 9.82 10.53 14.09 13.14 15.37 13.54 14.25 16.03 17.33 16.86 16.96 18.15 18.15 FCF Margin %
1.53 1.09 1.08 0.79 0.64 0.51 0.18 0.12 0.44 0.35 0.52 0.52 0.57 1.07 0.86 0.77 0.77 Debt to Equity
0.30 0.36 0.37 0.43 0.48 0.51 0.64 0.66 0.50 0.54 0.48 0.48 0.45 0.37 0.40 0.40 0.40 Total Equity to Total Asset
0.46 0.39 0.40 0.34 0.31 0.26 0.12 0.08 0.22 0.19 0.25 0.25 0.26 0.40 0.35 0.31 0.31 Total Debt to Total Asset
35.59 33.18 35.43 35.67 36.44 37.20 38.19 40.06 35.79 34.41 33.71 35.09 36.94 33.36 30.47 31.18 31.04 Gross Profit to Total Asset %
0.98 0.90 0.91 0.91 0.91 0.85 0.85 0.91 0.81 0.76 0.77 0.79 0.81 0.73 0.69 0.69 0.68 Asset Turnover
0.15 0.13 0.13 0.12 0.12 0.14 0.17 0.28 0.39 0.40 0.41 0.44 0.41 0.26 0.38 0.37 0.37 Dividend Payout Ratio
41.49 39.49 43.41 40.74 31.82 32.17 32.57 35.13 37.86 37.73 35.74 29.70 29.99 33.43 30.40 29.85 29.85 Days Sales Outstanding
95.12 84.80 48.24 45.18 47.05 45.70 52.60 55.13 53.86 53.35 56.21 56.97 63.62 71.14 68.12 72.78 72.78 Days Accounts Payable
45.80 50.63 54.09 55.11 51.90 53.44 52.56 47.10 49.57 51.20 49.11 50.39 51.05 52.51 56.49 61.52 61.20 Days Inventory
-7.83 5.32 49.26 50.67 36.67 39.91 32.53 27.10 33.57 35.58 28.64 23.12 17.42 14.80 18.77 18.59 18.27 Cash Conversion Cycle
7.97 7.21 6.75 6.62 7.03 6.83 6.94 7.75 7.36 7.13 7.43 7.24 7.15 6.95 6.46 5.93 5.96 Inventory Turnover
0.64 0.63 0.61 0.61 0.60 0.56 0.55 0.56 0.56 0.55 0.56 0.55 0.54 0.54 0.56 0.54 0.54 COGS to Revenue
0.08 0.09 0.09 0.09 0.09 0.08 0.08 0.07 0.08 0.08 0.08 0.08 0.08 0.08 0.09 0.09 0.09 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHD 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,462 1,737 1,946 2,221 2,422 2,521 2,589 2,749 2,922 3,194 3,298 3,395 3,493 3,776 4,146 4,358 4,358 Revenue
929 1,100 1,185 1,353 1,451 1,420 1,431 1,535 1,631 1,756 1,845 1,883 1,903 2,047 2,305 2,374 2,374 Cost of Goods Sold
533 637 761 868 972 1,101 1,158 1,215 1,291 1,438 1,453 1,512 1,591 1,730 1,841 1,984 1,984 Gross Profit
36.48 36.68 39.12 39.08 40.11 43.67 44.72 44.17 44.20 45.02 44.06 44.53 45.54 45.80 44.40 45.53 45.53 Gross Margin %
362 424 509 563 631 708 713 722 746 816 812 838 866 997 1,049 1,144 1,144 Selling, General, & Admin. Expense
0.00 -- -0.00 -- -- 0.00 -- -- 0.00 -- -- -0.00 -0.00 -0.00 -- -- -- Other Operating Expense
172 213 252 305 340 393 445 493 545 622 641 674 724 733 792 840 840 Operating Income
11.75 12.25 12.96 13.73 14.05 15.59 17.19 17.92 18.66 19.48 19.44 19.86 20.73 19.40 19.10 19.28 19.28 Operating Margin %
-- -- -- -- 6.75 1.33 0.60 1.90 -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -- -46.95 -35.57 -27.80 -8.70 -14.00 -27.70 -27.40 -30.50 -27.70 -52.60 -79.40 -73.60 -73.60 Interest Expense
-- -- -- -- -40.20 -34.24 -27.80 -8.70 -14.00 -27.70 -27.40 -30.50 -27.70 -52.60 -79.40 -73.60 -73.60 Net Interest Income
-44.31 -37.89 -39.00 -40.11 8.13 33.59 1.10 10.70 11.40 3.30 11.10 -8.30 9.40 12.60 7.20 7.10 7.10 Other Income (Expense)
-0.00 0.09 0.00 -0.01 -0.01 0.01 0.02 -- -- -- -- -- -- -- -- -- -- Other Income (Minority Interest)
127 175 213 265 308 392 418 495 543 598 625 635 706 693 720 774 774 Pre-Tax Income
-38.63 -52.07 -74.17 -95.90 -113 -149 -148 -185 -193 -203 -211 -225 -247 50.70 -151 -158 -158 Tax Provision
30.31 29.77 34.81 36.20 36.68 37.91 35.29 37.40 35.52 34.02 33.77 35.41 34.98 -7.32 20.97 20.40 20.40 Tax Rate %
88.81 123 139 169 195 244 271 310 350 394 414 410 459 743 569 616 616 Net Income (Continuing Operations)
88.81 123 139 169 195 244 271 310 350 394 414 410 459 743 569 616 616 Net Income
6.07 7.08 7.14 7.61 8.06 9.66 10.45 11.26 11.97 12.35 12.55 12.09 13.14 19.69 13.71 14.13 14.13 Net Margin %
0.36 0.48 0.54 0.64 0.72 0.87 0.96 1.08 1.25 1.43 1.53 1.57 1.78 2.97 2.32 2.50 2.50 EPS (Basic)
0.34 0.46 0.52 0.62 0.70 0.85 0.94 1.06 1.23 1.40 1.51 1.54 1.75 2.90 2.27 2.44 2.45 EPS (Diluted)
272 277 276 281 284 286 289 292 285 282 275 267 262 256 251 252 251 Shares Outstanding (Diluted
Average)
39.09 44.16 51.73 56.67 71.40 85.35 71.60 77.10 85.00 90.50 91.20 101 108 125 141 176 176 Depreciation, Depletion and
Amortization
211 257 304 362 427 513 518 580 642 716 744 767 841 871 940 1,024 1,024 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHD 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
146 127 110 250 198 447 189 251 343 497 423 330 188 279 317 156 156 Cash And Cash Equivalents
146 127 110 250 198 447 189 251 343 497 423 330 188 279 317 156 156 Cash, Cash Equivalents, Marketable
Securities
166 188 231 248 211 222 231 265 303 330 323 276 287 346 345 356 356 Accounts Receivable
41.00 46.85 48.19 53.52 52.85 57.31 52.50 49.60 71.70 70.20 70.80 84.60 69.80 85.60 84.40 85.90 85.90 Inventories, Raw Materials &
Components
7.31 9.90 10.71 9.17 9.15 9.14 12.11 11.30 22.40 30.40 25.00 33.10 28.80 30.80 34.10 29.00 29.00 Inventories, Work In Process
101 99.41 136 151 137 150 131 140 148 150 150 156 160 214 264 303 303 Inventories, Finished Goods
-- -- -- -- 0.00 -- -- -0.00 -- -- 0.00 -- -- -- -- -- -- Inventories, Other
149 156 195 214 199 217 195 201 242 251 246 274 258 331 383 417 417 Total Inventories
32.14 22.60 19.29 22.73 57.04 42.09 33.82 38.50 45.50 38.20 26.30 25.80 23.80 44.70 33.40 26.90 26.90 Other Current Assets
494 494 556 735 665 928 649 755 934 1,116 1,018 906 757 1,000 1,078 956 956 Total Current Assets
-- -- -- -- 10.06 12.82 9.19 12.00 23.00 24.50 24.80 8.40 8.50 9.30 8.50 9.70 9.70 Investments And Advances
13.59 13.30 14.70 11.34 25.66 25.93 25.97 25.60 26.00 25.70 25.50 25.20 25.10 27.90 27.80 27.80 27.80 Land And Improvements
135 140 144 147 144 227 229 225 277 280 282 277 285 300 301 255 255 Buildings And Improvements
388 400 438 476 499 524 569 603 698 718 743 809 831 862 888 910 910 Machinery, Furniture, Equipment
10.42 13.01 14.10 15.92 60.95 29.29 39.49 57.60 21.00 42.90 71.50 33.20 24.20 36.40 49.70 72.90 72.90 Construction In Progress
565 591 639 686 729 806 863 911 1,022 1,067 1,122 1,145 1,165 1,226 1,267 1,266 1,266 Gross Property, Plant and Equipment
-233 -264 -298 -335 -346 -351 -395 -405 -436 -473 -505 -535 -577 -619 -669 -693 -693 Accumulated Depreciation
332 327 340 351 383 456 468 506 586 594 616 610 589 608 598 573 573 Property, Plant and Equipment
986 1,070 1,369 1,354 1,657 1,633 1,730 1,773 2,469 2,427 2,597 2,624 2,876 4,279 4,267 4,830 4,830 Intangible Assets
-- -- 686 689 845 838 857 868 1,214 1,222 1,325 1,355 1,444 1,959 1,993 2,080 2,080 Goodwill
66.07 71.04 68.70 92.27 86.33 88.76 88.38 71.90 86.60 98.80 103 109 124 118 117 289 289 Other Long Term Assets
1,878 1,962 2,334 2,532 2,801 3,118 2,945 3,118 4,098 4,260 4,359 4,257 4,354 6,015 6,069 6,657 6,657 Total Assets
242 255 157 167 187 178 206 232 241 257 284 294 332 399 430 473 473 Accounts Payable
-- -- -- -- 1.76 15.63 1.77 1.70 39.80 2.30 1.00 7.20 6.20 5.00 2.90 7.50 7.50 Total Tax Payable
242 255 291 303 312 300 318 381 472 497 509 516 575 664 728 839 839 Accounts Payable & Accrued
Expense
104 121 140 149 74.74 219 90.00 2.60 254 154 397 357 427 271 598 253 253 Current Portion of Long-Term Debt
11.48 32.99 13.45 6.01 -- 48.08 38.94 -- -- -- -- -- -0.00 -- -- -- -- Other Current Liabilities
358 410 444 458 387 567 447 384 726 651 905 873 1,002 935 1,326 1,092 1,092 Total Current Liabilities
755 635 793 707 781 597 250 250 649 650 690 693 693 2,103 1,509 1,810 1,810 Long-Term Debt
755 635 793 707 781 597 250 250 649 650 690 693 693 2,103 1,509 1,810 1,810 Long-Term Debt & Capital Lease
Obligation
1.53 1.09 1.08 0.79 0.64 0.51 0.18 0.12 0.44 0.35 0.52 0.52 0.57 1.07 0.86 0.77 0.77 Debt to Equity
-- -- -- -- 35.80 38.60 38.05 45.00 50.90 25.50 28.30 -- -- -- -- -- -- PensionAndRetirementBenefit
108 125 134 163 265 314 340 399 611 634 634 668 681 758 757 895 895 NonCurrent Deferred Liabilities
0.29 0.26 0.32 0.19 0.19 0.19 0.17 0.20 0.20 0.10 -- -- -- -- -- -- -- Minority Interest
97.22 95.13 98.40 124 0.00 -0.00 0.00 -0.00 0.00 -- 0.00 -0.00 -0.00 0.00 23.00 192 192 Other Long-Term Liabilities
1,318 1,265 1,470 1,452 1,470 1,517 1,074 1,077 2,037 1,960 2,257 2,234 2,376 3,797 3,615 3,990 3,990 Total Liabilities
69.99 69.99 69.99 69.99 73.21 73.21 73.21 146 146 146 146 293 293 293 293 293 293 Common Stock
510 618 740 892 1,064 1,275 1,502 1,714 1,929 2,169 2,415 2,650 2,926 3,479 3,833 4,237 4,237 Retained Earnings
-3.11 -0.45 12.15 39.13 -20.45 10.08 16.31 2.90 2.50 0.20 -34.70 -45.90 -63.80 -36.40 -53.60 -66.70 -66.70 Accumulated other comprehensive
income (loss)
47.44 65.11 90.40 122 252 276 304 272 319 353 365 230 251 265 281 296 296 Additional Paid-In Capital
-64.78 -55.84 -48.84 -42.62 -37.30 -32.93 -24.63 -94.40 -336 -368 -790 -1,104 -1,429 -1,782 -1,899 -2,091 -2,091 Treasury Stock
560 697 864 1,080 1,332 1,602 1,871 2,041 2,061 2,300 2,102 2,023 1,978 2,218 2,454 2,668 2,668 Total Equity
0.30 0.36 0.37 0.43 0.48 0.51 0.64 0.66 0.50 0.54 0.48 0.48 0.45 0.37 0.40 0.40 0.40 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHD 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
88.81 123 139 169 195 244 271 310 350 394 414 410 459 743 569 616 616 Net Income
-- -- -- -- 6.43 -3.69 0.22 -- -- -- -- -- -- -- -- -- -- Net Foreign Currency Exchange
Gain
88.81 123 139 169 195 244 271 310 350 394 414 410 459 743 569 616 616 Net Income From Continuing
Operations
39.09 44.16 51.73 56.67 71.40 85.35 71.60 77.10 85.00 90.50 91.20 101 108 125 141 176 176 Depreciation, Depletion and
Amortization
42.73 -28.44 -14.27 -6.90 26.47 6.20 -12.70 -35.30 -9.00 -31.20 -1.80 33.50 -12.70 -9.70 -3.40 -9.20 -9.20 Change In Receivables
4.88 -9.82 -13.06 -13.76 2.44 -10.55 24.10 -9.00 -1.10 -7.30 1.80 -38.50 19.20 -25.20 -55.10 -33.80 -33.80 Change In Inventory
-1.29 -0.96 3.02 1.06 -1.35 -0.43 -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
13.07 39.07 -4.20 5.25 15.17 30.13 15.10 46.50 89.40 44.10 19.90 51.50 83.30 19.10 48.80 76.20 76.20 Change In Payables And Accrued
Expense
63.28 -4.93 -30.51 1.95 28.62 30.46 31.50 -11.00 75.40 -16.10 13.50 36.70 74.20 0.80 14.00 33.20 33.20 Change In Working Capital
12.86 2.39 9.03 16.52 15.16 23.15 38.90 59.40 13.20 11.10 12.70 24.00 24.90 -238 11.10 5.60 5.60 Change In DeferredTax
-- -- -- -- 12.41 12.73 11.80 11.00 12.40 17.00 17.00 16.10 16.00 18.10 23.30 20.80 20.80 Stock Based Compensation
-5.02 25.58 17.27 4.51 1.93 -6.44 0.10 -11.40 -14.30 -5.70 -14.40 -1.30 -32.00 29.30 1.90 -1.20 12.60 Cash Flow from Others
199 190 186 249 336 401 429 438 524 500 540 606 655 682 764 865 Cash Flow from Operations
865
-35.58 -37.74 -47.60 -48.88 -98.32 -135 -63.80 -76.60 -74.50 -67.10 -70.50 -61.80 -49.80 -45.00 -60.40 -73.70 -73.70 Purchase Of Property, Plant,
Equipment
1.35 14.75 -- 7.21 15.62 30.13 8.22 -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -383 -- -126 -72.30 -666 -- -216 -74.90 -305 -1,260 -49.80 -475 -475 Purchase Of Business
-- -- -- -- -- 1.32 -- -- -- -- -- -- -- -- -- -- -- Sale Of Business
-- -- -- -- 1.26 1.32 1.84 1.60 -- -- -- -- -- -- -- -- -- Sale Of Investment
-196 -82.12 -338 -0.86 -1.35 -1.53 -0.65 -0.50 -0.80 -10.00 -2.20 -4.50 0.50 1.60 -1.90 -4.80 -4.80 Cash From Other Investing Activities
-230 -105 -386 -42.52 -466 -104 -180 -148 -741 -77.10 -288 -141 -355 -1,303 -112 -554 -554 Cash Flow from Investing
18.63 17.17 12.20 16.07 -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -0.25 -0.40 -0.39 -0.10 -80.20 -250 -50.10 -479 -363 -400 -400 -200 -250 -250 Repurchase of Stock
100 -102 178 -77.38 100 -40.58 -477 -87.40 651 -99.40 293 -38.30 68.90 1,266 -269 -49.00 -49.00 Net Issuance of Debt
-14.01 -15.32 -16.87 -19.75 -23.11 -32.34 -44.00 -97.40 -135 -155 -168 -175 -183 -190 -213 -224 -224 Cash Flow for Dividends
-8.61 -0.99 4.58 7.68 10.67 15.00 17.00 38.50 39.20 44.90 46.60 41.70 74.50 23.80 73.10 50.20 50.20 Other Financing
96.38 -101 178 -73.62 87.22 -58.32 -504 -227 305 -260 -307 -535 -440 699 -609 -473 -473 Cash Flow from Financing
69.91 -18.86 -16.20 139 -51.81 249 -258 62.20 91.60 154 -73.90 -93.00 -142 91.10 37.80 -161 -161 Net Change in Cash
-35.58 -37.74 -47.60 -48.88 -98.32 -135 -63.80 -76.60 -74.50 -67.10 -70.50 -61.80 -49.80 -45.00 -60.40 -73.70 -73.70 Capital Expenditure
163 152 139 200 238 266 365 361 449 433 470 544 606 637 703 791 791 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHD 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
24.55 18.05 20.60 21.98 20.19 17.72 18.51 21.48 21.87 23.84 26.19 27.65 25.25 17.18 28.97 28.71 30.60 PE Ratio(TTM)
15.37 21.07 21.36 17.88 14.99 13.44 14.42 18.36 16.91 22.89 22.66 21.84 18.72 21.78 24.10 22.50 23.98 Price to Owner Earnings
(TTM)
3.80 3.05 3.23 3.32 2.96 2.66 2.63 3.19 3.61 4.00 5.00 5.45 5.67 5.60 6.62 6.47 6.90 Price to Book
-- -- -- -- -- -- 34.87 24.29 -- -- -- -- -- -- -- -- -- Price to Tangible Book
13.83 15.05 21.24 19.07 16.78 16.28 13.68 18.48 17.01 21.63 23.02 20.84 19.15 20.14 23.45 22.43 23.90 Price-to-Free-Cash-Flow
Ratio
11.36 12.06 15.84 15.29 11.88 10.78 11.64 15.23 14.58 18.73 20.02 18.70 17.68 18.81 21.60 20.52 21.87 Price-to-Operating-Cash-
Flow Ratio
1.55 1.32 1.51 1.71 1.65 1.71 1.92 2.43 2.62 2.93 3.29 3.34 3.32 3.40 3.98 4.07 4.34 PS Ratio
1.46 1.03 1.06 1.01 1.05 1.09 1.12 1.71 2.08 2.45 2.77 2.56 2.64 2.17 3.25 3.21 3.56 PEG Ratio
1.94 1.59 1.86 1.89 1.90 1.84 1.96 2.37 2.74 2.98 3.39 3.46 3.48 3.84 4.35 4.40 4.66 EV-to-Revenue
13.47 10.73 11.88 11.61 10.95 9.03 9.78 11.22 12.46 13.29 15.03 15.32 14.45 16.68 19.18 18.73 19.85 EV-to-EBITDA
16.53 12.96 14.32 13.76 13.20 10.83 11.36 12.94 14.37 15.22 17.13 17.65 16.57 19.48 22.56 22.62 23.98 EV-to-EBIT
6.05 7.72 6.98 7.27 7.58 9.23 8.80 7.73 6.96 6.57 5.84 5.67 6.04 5.13 4.43 4.42 4.17 Return on Capital %
18.84 20.66 22.68 24.00 23.78 20.92 21.34 16.91 14.83 13.63 13.08 14.60 13.62 11.98 12.29 12.51 12.29 Forward Rate of Return
42.74 33.98 36.63 38.44 34.80 31.83 30.88 34.89 35.45 38.19 40.45 39.26 36.38 34.14 39.98 38.62 41.16 Shiller PE Ratio
0.61 0.73 0.62 0.56 0.61 0.77 0.90 1.30 1.79 1.69 1.57 1.58 1.61 1.51 1.32 1.29 1.22 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,126 2,127 2,787 3,589 3,936 4,264 4,916 6,511 7,436 9,211 10,511 11,030 11,223 12,424 16,235 17,262 18,415 Market Cap
2,839 2,758 3,610 4,196 4,595 4,633 5,067 6,512 7,996 9,517 11,174 11,750 12,155 14,519 18,026 19,169 20,322 Enterprise Value
8.41 8.26 10.66 13.52 14.03 15.11 17.26 22.88 26.79 33.14 39.41 42.44 44.19 50.17 65.76 70.34 74.96 Month End Stock Price
-4.64 -4.42 -5.20 -4.53 -4.53 -3.79 -3.11 -2.90 -6.10 -5.26 -6.88 -7.32 -8.62 -14.21 -13.36 -15.62 -15.62 Net Cash (per share)
-3.26 -2.99 -3.50 -2.70 -2.87 -2.09 -1.49 -1.13 -3.98 -3.04 -4.65 -5.11 -6.38 -11.29 -10.28 -12.36 -12.36 Net Current Asset Value
(per share)
-3.85 -3.57 -4.16 -3.43 -3.61 -2.82 -2.16 -1.85 -4.85 -3.92 -5.51 -6.00 -7.26 -12.49 -11.54 -13.68 -13.68 Net-Net Working Capital (per
share)
3.95 5.86 6.89 10.24 12.25 14.49 15.53 16.33 18.41 20.94 23.27 26.37 28.26 31.43 34.68 39.28 39.28 Projected FCF (per share)
6.17 7.63 9.20 10.79 12.22 13.30 14.21 15.46 17.31 19.84 21.74 25.89 33.71 41.87 49.65 55.62 55.62 Median PS (per share)
5.74 8.02 10.06 13.32 13.39 13.90 15.36 13.40 12.85 13.55 14.25 16.56 16.71 23.10 20.23 21.93 21.93 Peter Lynch Fair Value (per
share)
-- -- -- -- -- -- 3.23 4.74 -- -- -- -- -- -- -- -- -- Graham Number (per share)
0.16 1.38 3.04 5.30 6.28 7.99 9.76 11.30 11.04 13.92 15.34 17.02 18.45 18.77 22.72 25.48 25.48 Earnings Power Value
(EPV)
2.44 2.68 2.77 3.33 3.53 3.66 4.92 5.96 4.07 4.90 4.85 5.16 5.07 3.82 4.65 4.54 4.71 Altman Z-Score
7.00 5.00 7.00 6.00 7.00 6.00 5.00 6.00 7.00 7.00 5.00 7.00 8.00 7.00 5.00 8.00 8.00 Piotroski F-Score
-2.46 -2.39 -2.44 -2.58 -2.81 -2.79 -2.52 -2.52 -2.74 -2.52 -2.67 -2.82 -2.68 -2.36 -2.60 -2.62 -2.62 Beneish M-Score
1.14 0.71 0.86 0.72 0.79 0.70 0.65 0.69 0.84 0.64 0.65 0.63 0.68 0.99 0.71 0.75 0.69 Scaled Net Operating
Assets
6.37 1.93 14.48 -1.47 11.61 -1.71 0.77 0.63 13.85 -0.66 3.72 -1.28 3.64 22.70 -1.37 4.58 4.58 Sloan Ratio (%)
1.38 1.21 1.25 1.61 1.72 1.64 1.45 1.97 1.29 1.71 1.12 1.04 0.76 1.07 0.81 0.88 0.88 Current Ratio
0.96 0.83 0.81 1.14 1.20 1.25 1.02 1.45 0.95 1.33 0.85 0.72 0.50 0.72 0.52 0.49 0.49 Quick Ratio
8.41 9.76 10.85 14.23 16.09 15.48 17.67 23.17 29.38 33.46 40.27 45.29 51.67 53.80 69.18 80.28 80.99 Highest Stock Price
6.45 8.07 8.24 10.66 12.43 11.57 14.93 17.14 22.40 26.79 31.03 38.78 39.12 43.32 45.41 60.46 64.96 Lowest Stock Price
-3.28 -1.90 -1.51 -1.54 -5.68 -0.58 -0.93 0.09 2.46 -0.13 4.04 2.55 2.29 2.49 0.30 0.60 0.60 Shares Buyback Ratio (%)
31.10 16.67 12.61 11.93 7.84 3.53 1.68 5.16 8.59 10.48 6.01 5.95 4.90 10.64 12.15 4.53 4.55 YoY Rev. per Sh. Growth
(%)
6.25 34.56 13.11 18.84 13.01 22.66 9.68 13.37 15.57 13.88 8.24 1.99 13.64 65.71 -21.72 7.49 7.93 YoY EPS Growth (%)
40.47 19.77 18.88 16.70 16.64 19.67 -0.11 10.99 12.96 12.77 6.67 6.14 11.81 5.95 10.29 8.29 8.29 YoY EBITDA Growth (%)
16.76 17.52 19.44 21.66 19.27 16.30 16.47 12.58 10.49 9.75 9.47 10.79 9.55 7.91 8.91 8.95 8.60 EBITDA 5-Y Growth (%)
247 255 259 263 271 282 284 286 280 277 270 262 258 251 246 246 246 Shares Outstanding (Basic
Average)
253 258 261 265 281 282 285 285 278 278 267 260 254 248 247 245 245 Shares Outstanding (EOP)
0.21 0.37 0.87 -0.16 0.28 0.31 0.48 0.45 0.33 0.13 0.64 0.73 0.36 0.25 0.09 0.04 0.05 Beta
03/11/05 03/13/06 02/26/07 02/27/08 02/24/09 02/24/10 02/24/11 02/24/12 02/22/13 02/21/14 02/20/15 02/19/16 02/24/17 02/23/18 02/21/19 02/18/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHD 6/7
03/13/06 03/13/06 02/26/07 02/27/08 02/24/11 02/24/11 02/22/13 02/21/14 02/20/15 02/19/16 02/24/17 02/23/18 02/21/19 02/18/20 02/18/20 02/18/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CHD 7/7
General Electric Co (NYSE:GE) 03/02/2020 4:10PM EST GuruFocus
Price: $ 11.21 +0.33(+3.03%) Market Cap: $ 97.98 B Enterprise Value: $108.66 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.90 Operating margin (%) 5.54
P/B 3.46
Equity to Asset 0.11 Net-margin (%) -4.71
P/S 0.92
Interest Coverage 3.21 ROE (%) -17.19
F-Score:
PFCF 36.51
ROA (%) -1.70
6 POCF 11.13
Z-Score: ROC (Joel Greenblatt) (%) 6.08
1.41 EV-to-EBIT 34.51
Revenue Growth (3Y)(%) -5.90
M-Score: Shiller P/E 33.83
-2.94 EBITDA Growth (3Y)(%) -16.80
Current Ratio 1.78
WACC vs 4.92%
ROIC 2.89% Quick Ratio 1.60
WACC
ROIC Days Inventory 74.25
Days Sales Outstanding 93.39
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year With historical ties to inventor Thomas Edison, General Electric was formed through the combination of two companies
ROIC vs. WACC: Return on
in 1892. Today, GE is known for its digital industrial offerings and massive installed base spread across a variety of
invested capital is less than 2016 27,836 30,344 29,038 32,249 119,467 products and services, including aircraft engines, gas turbines, steam turbines, and wind turbines, among others. After
weighted average cost of 2017 26,880 29,097 30,663 12,639 99,279 the sale of GE Transportation to Wabtec and a majority of its stake in Baker Hughes, as well as the sale of GE
Biopharma to Danaher, the company focuses on Aviation, legacy Healthcare, Power, and Renewable Energy. The
capital. 2018 27,788 29,162 23,392 26,500 106,842 company continues to embark on a multiyear turnaround under the lean manufacturing expertise of former Danaher
2019 27,286 28,830 23,360 26,238 105,714 CEO H. Lawrence Culp.... (Read More)
2020 Competitors: XTER:SIE, NYSE:MMM, NYSE:HON, XPAR:SU, NYSE:ITW, XSWX:ABBN, NYSE:EMR,
DCF NYSE:ETN, OSTO:ATCO A, NYSE:ROP, TSE:6594, NYSE:IR, TSE:6954, OHEL:KNEBV, TSE:6273, NYSE:PH,
Quarterly Earnings per Share NYSE:CMI, XSWX:SCHN, NYSE:ROK, BSP:WEGE3
GuruFocus does not
calculate intrinsic value: DCF Mar Jun Sep Dec Full Year Insider Trades
(Earnings Based) for 2016 -0.01 0.30 0.22 0.39 0.90
companies with one star 2017 -0.01 0.10 0.15 -1.13 -0.89
predictability or not rated. But 2018 -0.14 0.07 -2.62 0.07 -2.62
you can go to each stock's 2019 0.40 -0.01 -1.08 0.06 -0.63
DCF page to calculate 2020
yourself.
Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
Reverse DCF
2016 0.23 0.23 0.23 0.24 0.93
GuruFocus does not 2017 0.24 0.24 0.24 0.12 0.84
calculate reverse DCF growth 2018 0.12 0.12 0.12 0.01 0.37
rate for companies with one 2019 0.01 0.01 0.01 0.01 0.04
star predictability or not rated. 2020
But you can go to each
Growth Rate
stock's DCF page to calculate
yourself. Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) -2.50 -1.40 -2.20
EBITDA Growth (%) 0.00 0.00 0.00
Free Cash Flow Growth (%) 0.00 0.00 0.00
Book Value Growth (%) -11.30 -11.30 -8.90
EPS Growth (%) 0.00 0.00 0.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GE 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.86 12.87 14.58 16.88 17.98 14.63 13.90 13.32 13.64 10.70 11.50 11.50 13.09 11.43 11.16 10.91 12.13 Revenue per Share
3.86 4.13 4.87 6.03 5.65 3.67 2.34 2.81 2.59 1.47 1.61 1.42 1.68 -0.42 -1.45 0.97 1.00 EBITDA per Share
3.06 3.39 4.06 5.02 4.51 2.67 1.43 1.96 1.72 0.97 1.12 0.93 0.91 -1.13 -2.21 0.33 0.36 EBIT per Share
1.64 1.57 2.00 2.17 1.72 1.01 1.06 1.23 1.29 1.27 1.50 -0.62 0.75 -1.03 -2.62 -0.62 -0.63 Earnings per Share (diluted)
1.59 1.64 1.86 2.20 1.78 1.00 1.15 1.23 1.38 0.74 0.94 0.17 0.85 -1.00 -2.47 -0.01 0.00 eps without NRI
1.44 1.04 1.53 2.76 1.50 0.93 1.03 0.96 0.72 0.59 0.75 -0.73 1.03 -1.71 -2.57 -0.50 -0.50 Owner Earnings per Share (TTM)
2.26 2.26 1.51 2.50 3.23 1.49 2.47 1.95 1.54 2.11 2.03 1.18 -0.74 -0.06 -0.23 0.31 0.31 Free Cashflow per Share
0.82 0.91 1.03 1.15 1.24 0.61 0.46 0.61 0.70 0.79 0.89 0.92 0.93 0.84 0.37 0.04 0.04 Dividends per Share
10.46 10.49 10.85 11.57 9.91 11.00 11.20 11.01 11.82 12.98 12.74 10.48 8.67 6.45 3.56 3.24 3.24 Book Value per Share
3.05 2.66 2.65 1.83 0.75 3.80 4.20 3.00 3.65 3.84 6.14 1.59 -1.26 -5.56 -1.74 -1.04 -1.04 Tangible Book per Share
34.44 35.54 42.11 51.48 46.11 44.07 45.09 42.89 39.77 38.07 25.99 21.07 15.58 15.51 11.91 10.77 10.77 Total Debt per Share
35.09 33.69 35.77 35.63 15.57 14.54 17.58 17.22 20.18 26.94 24.29 29.94 30.38 16.77 7.28 11.16 11.21 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
18.06 15.19 18.78 19.56 15.74 9.66 9.59 11.13 11.38 10.28 11.76 -5.42 7.86 -13.53 -52.41 -18.34 -17.19 Return on Equity %
2.45 2.35 3.03 2.98 2.19 1.40 1.52 1.93 1.94 1.95 2.32 -1.07 1.75 -2.31 -6.57 -1.73 -1.70 Return on Assets %
9.75 10.49 11.38 12.09 10.20 7.09 4.05 5.68 5.44 3.11 5.93 13.49 12.28 -15.39 -36.21 6.33 6.08 Return on Capital %
7.71 7.06 7.71 8.17 7.91 6.41 10.72 8.63 11.36 2.90 4.08 1.24 7.62 -3.58 3.51 3.08 2.89 Return on Invested Capital %
6.46 6.24 6.02 5.86 5.60 6.10 3.97 4.01 3.51 4.24 4.17 4.56 5.47 4.46 2.53 5.27 4.92 Weighted Average Cost Of Capital (WACC) %
3.34 4.03 4.70 5.02 5.15 3.83 0.22 0.14 0.19 0.21 0.34 0.51 0.74 1.12 1.50 1.72 1.77 Effective Interest Rate on Debt %
54.01 56.23 55.95 57.61 53.87 51.11 41.90 42.01 40.39 25.67 26.69 26.19 23.46 20.69 21.87 23.79 23.27 Gross Margin %
24.31 27.02 28.39 29.74 25.07 18.23 37.13 39.24 39.51 12.20 12.88 12.64 8.70 -5.93 3.90 5.68 5.54 Operating Margin %
12.78 12.24 13.68 12.88 9.59 7.10 7.85 10.00 9.46 11.86 13.09 -5.32 6.28 -8.55 -23.04 -5.23 -4.71 Net Margin %
17.54 17.52 10.34 14.79 17.98 10.16 17.74 14.65 11.25 19.75 17.68 10.25 -5.68 -0.55 -2.03 2.81 2.53 FCF Margin %
3.29 3.39 3.88 4.45 4.65 4.01 4.02 3.89 3.36 2.93 2.04 2.01 1.80 2.40 3.34 3.32 3.32 Debt to Equity
0.15 0.16 0.16 0.15 0.13 0.15 0.16 0.16 0.18 0.20 0.20 0.20 0.21 0.15 0.10 0.11 0.11 Total Equity to Total Asset
0.49 0.55 0.62 0.65 0.61 0.60 0.64 0.63 0.60 0.58 0.40 0.40 0.37 0.36 0.33 0.35 0.35 Total Debt to Total Asset
10.38 10.79 12.38 13.32 12.28 10.05 8.13 8.11 8.30 4.22 4.74 5.25 6.53 5.59 6.24 7.85 8.38 Gross Profit to Total Asset %
0.19 0.19 0.22 0.23 0.23 0.20 0.19 0.19 0.21 0.16 0.18 0.20 0.28 0.27 0.29 0.33 0.36 Asset Turnover
0.52 0.56 0.55 0.52 0.70 0.61 0.40 0.50 0.51 1.07 0.95 5.41 1.09 -- -- -- -- Dividend Payout Ratio
838 847 863 878 804 822 810 794 722 903 135 145 129 150 111 104 93.39 Days Sales Outstanding
113 129 113 107 90.71 93.88 62.04 72.97 66.51 73.44 51.61 58.75 57.62 70.33 66.58 80.11 71.67 Days Accounts Payable
54.76 61.82 56.05 57.22 57.89 61.68 49.77 56.32 61.96 72.90 74.88 86.33 89.55 96.82 79.99 70.19 74.25 Days Inventory
780 779 806 829 771 790 797 778 717 902 158 173 161 177 124 93.76 95.97 Cash Conversion Cycle
6.67 5.90 6.51 6.38 6.31 5.92 7.33 6.48 5.89 5.01 4.87 4.23 4.08 3.77 4.56 5.20 4.92 Inventory Turnover
0.46 0.44 0.44 0.42 0.46 0.49 0.58 0.58 0.60 0.74 0.73 0.74 0.77 0.79 0.78 0.76 0.77 COGS to Revenue
0.07 0.07 0.07 0.07 0.07 0.08 0.08 0.09 0.10 0.15 0.15 0.18 0.19 0.21 0.17 0.15 0.16 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GE 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
134,291 136,580 151,568 172,488 181,581 155,278 148,416 141,479 144,121 110,137 116,406 115,158 119,468 99,279 97,012 95,215 105,714 Revenue
61,759 59,784 66,773 73,125 83,772 75,921 86,223 82,038 85,906 81,862 85,342 84,994 91,442 78,738 75,800 72,560 81,110 Cost of Goods Sold
72,532 76,796 84,795 99,363 97,809 79,357 62,193 59,441 58,215 28,275 31,064 30,164 28,026 20,541 21,212 22,655 24,604 Gross Profit
54.01 56.23 55.95 57.61 53.87 51.11 41.90 42.01 40.39 25.67 26.69 26.19 23.46 20.69 21.87 23.79 23.27 Gross Margin %
36,003 36,652 38,704 43,642 45,048 40,426 41,116 -- -- 17,945 16,848 17,831 17,638 26,425 17,433 17,243 18,746 Selling, General, & Admin.
Expense
3,888 3,239 3,062 4,431 7,233 10,627 -34,031 3,930 1,269 -3,107 -778 -2,227 -- -- -- -- -- Other Operating Expense
32,641 36,905 43,029 51,290 45,528 28,304 55,108 55,511 56,946 13,437 14,994 14,560 10,388 -5,884 3,779 5,412 5,858 Operating Income
24.31 27.02 28.39 29.74 25.07 18.23 37.13 39.24 39.51 12.20 12.88 12.64 8.70 -5.93 3.90 5.68 5.54 Operating Margin %
-- -- -- -- -- -- -- -- -- -- -- -- 263 358 562 1,220 -- Interest Income
-11,616 -14,811 -18,879 -23,762 -25,758 -18,309 -1,027 -662 -811 -849 -1,085 -1,162 -1,234 -1,510 -1,784 -1,695 -1,826 Interest Expense
-11,616 -14,811 -18,879 -23,762 -25,758 -18,309 -1,027 -662 -811 -849 -1,085 -1,162 -971 -1,152 -1,222 -475 -606 Net Interest Income
-728 -916 -862 -- -- -- -39,894 -34,690 -38,754 -3,488 -3,646 -5,212 -2,386 -4,309 -23,544 -3,788 -3,929 Other Income (Expense)
-- -- -- -916 -641 -200 -535 -292 -223 -298 -112 -332 289 365 89.00 -66.00 -67.00 Other Income (Minority
Interest)
20,297 21,178 23,288 27,528 19,770 9,995 14,187 20,159 17,381 9,100 10,263 8,186 7,031 -11,345 -20,987 1,149 1,323 Pre-Tax Income
-3,696 -3,824 -3,944 -4,155 -1,102 1,148 -1,039 -5,745 -2,534 -1,219 -773 -6,485 1,133 2,808 -93.00 -726 -842 Tax Provision
18.21 18.06 16.94 15.09 5.57 -11.49 7.32 28.50 14.58 13.40 7.53 79.22 -16.11 24.75 -0.44 63.19 63.64 Tax Rate %
16,601 17,354 19,344 23,373 18,668 11,143 13,148 14,414 14,847 7,881 9,490 1,700 8,165 -8,536 -21,080 423 481 Net Income (Continuing
Operations)
559 -634 1,398 -249 -617 82.00 -969 29.00 -983 5,475 5,855 -7,495 -954 -312 -1,363 -5,335 -5,393 Net Income (Discontinued
Operations)
17,160 16,720 20,742 22,208 17,410 11,025 11,644 14,151 13,641 13,057 15,233 -6,126 7,500 -8,484 -22,355 -4,979 -4,980 Net Income
12.78 12.24 13.68 12.88 9.59 7.10 7.85 10.00 9.46 11.86 13.09 -5.32 6.28 -8.55 -23.04 -5.23 -4.71 Net Margin %
-- -- -- -- 75.00 300 300 1,031 -- -- -- 18.00 656 436 447 460 460 Preferred dividends
1.65 1.58 2.00 2.18 1.72 1.01 1.06 1.24 1.29 1.28 1.51 -0.62 0.76 -1.03 -2.62 -0.62 -0.62 EPS (Basic)
1.64 1.57 2.00 2.17 1.72 1.01 1.06 1.23 1.29 1.27 1.50 -0.62 0.75 -1.03 -2.62 -0.62 -0.63 EPS (Diluted)
10,445 10,611 10,394 10,218 10,098 10,615 10,678 10,620 10,564 10,289 10,123 10,016 9,130 8,687 8,691 8,724 8,706 Shares Outstanding (Diluted
Average)
8,348 7,841 8,457 10,275 11,481 10,619 9,786 8,986 9,192 5,202 4,953 4,847 7,070 6,194 6,582 5,595 5,595 Depreciation, Depletion and
Amortization
40,261 43,830 50,624 61,565 57,009 38,923 25,000 29,807 27,384 15,151 16,301 14,195 15,335 -3,641 -12,621 8,439 8,744 EBITDA
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GE 3/7
12,152 8,825 14,099 15,731 48,187 70,488 78,943 84,501 77,268 88,555 70,025 70,483 48,129 43,299 31,124 36,394 36,394 Cash And Cash Equivalents
56,923 42,148 47,806 45,276 41,446 51,343 43,938 47,374 48,510 43,981 35,505 31,973 44,313 38,696 33,508 48,521 48,521 Marketable Securities
69,075 50,973 61,905 61,007 89,633 121,831 122,881 131,875 125,778 132,536 105,530 102,456 92,442 81,995 64,632 84,915 84,915 Cash, Cash Equivalents,
Marketable Securities
308,272 316,822 358,256 414,896 400,018 349,761 329,204 307,957 285,004 272,442 42,943 45,857 42,263 40,846 29,487 27,047 27,047 Accounts Receivable
5,042 5,527 5,870 7,893 8,710 7,581 6,973 8,735 9,295 9,760 9,963 13,415 12,636 10,131 8,057 8,771 8,771 Inventories, Raw Materials &
Components
-661 -697 -564 -623 -706 -529 -404 -450 -398 -273 -62.00 207 383 -- -- -- -- Inventories, Inventories
Adjustments
5,397 5,644 4,726 5,627 5,670 4,935 4,501 5,022 6,099 7,229 7,032 8,265 8,798 8,847 5,746 5,333 5,333 Inventories, Finished Goods
-- -- -- -- -- -- 456 485 378 609 756 628 537 441 -- Inventories, Other
-- --
9,778 10,474 10,032 12,897 13,674 11,987 11,526 13,792 15,374 17,325 17,689 22,515 22,354 19,419 13,803 14,104 14,104 Total Inventories
-- -- -- -- -- -- 36,887 711 211 50.00 2,826 2,818 1,745 4,832 1,629 9,149 9,149 Other Current Assets
387,125 378,269 430,193 488,800 503,325 483,579 500,498 454,335 426,367 422,353 168,988 173,646 158,804 147,092 109,551 135,215 135,215 Total Current Assets
-- -- -- -- -- 72,142 -- -- -- -- -- -- -- -- -- -- -- Investments And Advances
1,562 6,909 5,550 6,749 7,814 562 -- -- -- -- -- -- -- 1,175 700 608 608 Land And Improvements
15,301 10,044 7,448 7,700 7,354 7,569 -- -- -- -- -- -- -- 11,657 8,608 7,973 7,973 Buildings And Improvements
81,274 88,176 89,742 96,749 57,166 20,714 -- -- -- -- -- -- -- 73,716 64,574 65,413 65,413 Machinery, Furniture,
Equipment
1,772 1,609 1,932 3,031 3,363 -- -- -- -- -- -- -- -- -- -- -- -- Construction In Progress
105,872 111,729 109,371 119,311 125,671 112,909 66,212 65,739 68,633 68,827 48,070 54,095 50,518 89,726 75,800 78,326 78,326 Gross Property, Plant and
Equipment
-42,769 -44,201 -38,721 -41,423 -47,141 -43,939 -- -- -- -- -- -- -- -35,852 -32,190 -32,140 -32,140 Accumulated Depreciation
63,103 67,528 70,650 77,888 78,530 68,970 66,212 65,739 68,633 68,827 48,070 54,095 50,518 53,874 43,610 46,186 46,186 Property, Plant and Equipment
78,456 81,630 84,314 97,258 96,736 76,827 74,359 84,693 85,094 91,958 66,389 83,325 86,875 104,241 46,151 37,386 37,386 Intangible Assets
67,365 69,611 71,399 81,116 81,759 65,076 64,388 72,625 73,114 77,648 53,207 65,526 70,438 83,968 33,974 26,734 26,734 Goodwill
221,823 145,894 111,526 131,737 119,178 80,383 106,724 113,422 104,905 73,422 371,507 182,005 68,986 64,038 111,760 47,261 47,261 Other Long Term Assets
750,507 673,321 696,683 795,683 797,769 781,901 747,793 718,189 684,999 656,560 654,954 493,071 365,183 369,245 311,072 266,048 266,048 Total Assets
19,137 21,183 20,632 21,338 20,819 19,527 14,656 16,400 15,654 16,471 12,067 13,680 14,435 15,172 13,826 15,926 15,926 Accounts Payable
25,403 28,262 28,107 34,323 24,159 32,860 27,361 29,546 28,511 31,816 26,921 31,623 33,302 38,341 32,809 36,434 36,434 Accounts Payable & Accrued
Expense
157,195 158,156 172,013 195,100 164,061 132,293 155,257 191,440 155,299 140,298 71,197 50,778 31,035 24,655 12,774 22,073 22,073 Current Portion of Long-Term
Debt
17,539 18,552 17,944 15,816 30,756 36,429 27,443 15,141 15,052 13,387 15,264 24,458 18,220 18,167 15,574 17,411 17,411 Other Current Liabilities
200,137 204,970 218,064 245,239 218,976 201,582 210,061 236,127 198,862 185,501 113,382 106,859 82,557 81,163 61,157 75,918 75,918 Total Current Liabilities
207,871 212,281 260,752 319,013 322,847 337,631 323,341 262,003 258,500 242,742 190,227 146,824 105,178 109,933 90,824 68,811 68,811 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 3,162 3,162 Capital Lease Obligation
207,871 212,281 260,752 319,013 322,847 337,631 323,341 262,003 258,500 242,742 190,227 146,824 105,178 109,933 90,824 71,973 71,973 Long-Term Debt & Capital
Lease Obligation
3.29 3.39 3.88 4.45 4.65 4.01 4.02 3.89 3.36 2.93 2.04 2.01 1.80 2.40 3.34 3.32 3.32 Debt to Equity
-- -- -- -- -- -- -- -- -- -- 42,238 40,487 43,780 41,630 31,928 31,687 31,687 PensionAndRetirementBenefit
15,285 16,208 14,110 12,490 4,584 2,081 2,753 -131 -- -- -- -- -- -- -- -- -- NonCurrent Deferred Liabilities
12,603 8,054 7,493 8,004 8,947 7,845 5,262 1,696 5,444 6,217 8,674 1,864 1,663 17,468 20,500 1,545 1,545 Minority Interest
203,790 122,457 84,755 95,378 137,750 115,471 87,440 102,056 99,167 91,534 172,274 98,763 56,177 63,021 75,682 56,609 56,609 Other Long-Term Liabilities
627,083 555,916 577,681 672,120 684,157 656,765 623,595 600,055 556,529 519,777 518,121 392,933 287,692 295,747 259,591 236,187 236,187 Total Liabilities
669 669 669 669 702 702 702 702 702 702 702 702 702 702 702 702 702 Common Stock
-- -- -- -- -- -- -- -- -- -- -- 6.00 6.00 6.00 6.00 6.00 6.00 Preferred Stock
91,411 97,644 106,993 117,362 122,123 126,363 131,137 137,786 144,055 149,051 155,333 140,020 139,532 117,245 93,109 87,732 87,732 Retained Earnings
4,970 1,306 1,646 8,200 -21,853 -15,265 -17,855 -23,974 -20,230 -9,120 -18,173 -16,529 -18,599 -14,403 -14,414 -11,732 -11,732 Accumulated other
comprehensive income (loss)
-- -- 25,486 26,100 40,390 37,729 -- -- -- -- -- -- -- -- -- -- -- Additional Paid-In Capital
-12,762 -17,326 -24,893 -36,896 -36,697 -32,238 -31,938 -31,769 -34,571 -42,561 -42,593 -63,539 -83,038 -84,902 -83,925 -82,797 -82,797 Treasury Stock
110,821 109,351 111,509 115,559 104,665 117,291 118,936 116,438 123,026 130,566 128,159 98,274 75,828 56,030 30,981 28,316 28,316 Total Equity
0.15 0.16 0.16 0.15 0.13 0.15 0.16 0.16 0.18 0.20 0.20 0.20 0.21 0.15 0.10 0.11 0.11 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GE 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16,601 17,354 19,344 23,373 18,668 11,143 12,613 14,122 14,624 7,582 9,378 1,369 8,165 -8,537 -21,080 423 423 Net Income
16,601 17,354 19,344 23,373 18,668 11,143 12,613 14,122 14,624 7,582 9,378 1,369 8,165 -8,537 -21,080 423 423 Net Income From Continuing
Operations
8,348 7,841 8,457 10,275 11,481 10,619 9,786 8,986 9,192 5,202 4,953 4,847 7,070 6,194 6,582 5,595 5,595 Depreciation, Depletion and
Amortization
-1,617 -1,090 -2,194 -868 -24.00 3,273 -60.00 -670 -879 -485 -1,913 -52.00 -1,157 -5,145 -439 -2,789 -2,789 Change In Receivables
-468 -556 -1,514 -1,562 -719 1,101 342 -1,168 -1,274 -1,368 -872 -314 -815 324 -356 -1,109 -1,109 Change In Inventory
3,756 240 -276 -997 -1,063 -439 -360 58.00 -1,357 2,334 50.00 -1,537 2,953 2,081 974 4,350 4,350 Change In Payables And Accrued
Expense
1,207 -896 -3,342 6,553 1,021 3,435 -78.00 -1,780 -3,510 481 -2,735 -1,903 981 -2,740 179 452 452 Change In Working Capital
51.00 -1,063 1,639 657 -1,282 -2,793 930 -204 -1,152 -3,540 -882 383 -1,133 -2,808 93.00 726 726 Change In DeferredTax
-- -- -- -- -- -- -142 -182 -191 -9,617 -20,991 -20,395 -1,601 -7,901 -4,424 -638 -638 Cash Flow from Discontinued
Operations
4,665 6,867 6,414 -916 17,806 1,994 13,006 10,987 11,861 4,673 5,319 7,161 -7,580 11,181 -4,700 1,737 3,223 Cash Flow from Others
36,493 37,691 31,455 43,322 48,653 24,417 36,124 33,359 31,331 28,510 27,709 19,891 1,160 6,554 4,978 8,772 8,772 Cash Flow from Operations
-12,936 -13,762 -15,788 -17,803 -16,010 -8,634 -9,800 -12,637 -15,119 -6,754 -7,134 -7,309 -7,199 -6,642 -6,627 -5,813 -5,813 Purchase Of Property, Plant,
Equipment
5,839 6,019 6,795 8,457 10,954 6,478 7,208 5,867 6,184 2,716 2,923 3,020 4,424 5,530 4,093 3,718 3,718 Sale Of Property, Plant, Equipment
-18,703 -11,436 -11,573 -17,215 -28,110 -7,842 -1,212 -11,202 -1,456 -8,026 -2,091 -12,027 -2,271 -2,722 -1.00 -68.00 -- Purchase Of Business
4,616 8,582 12,892 2,746 4,986 9,978 3,062 8,877 3,618 18,517 630 2,283 5,357 3,208 8,425 4,683 4,683 Sale Of Business
-- -- -- -- -- -- -- -- -- -- -- -778 -749 -454 -320 -282 -282 Net Intangibles Purchase And Sale
-7,651 -8,318 -1,774 -3,116 -1,036 1,551 1,158 7,665 -61.00 -14,514 -24,031 77,490 46,459 115 -616 4,119 4,119 Cash From Discontinued Investing
Activities
-9,588 -16,184 -43,199 -42,573 -5,552 40,847 32,020 21,312 18,136 37,178 24,669 -3,191 3,114 6,344 13,326 2,582 2,514 Cash From Other Investing Activities
-38,423 -35,099 -52,647 -69,504 -34,768 42,378 32,436 19,882 11,302 29,117 -5,034 59,488 49,135 5,379 18,280 8,939 8,939 Cash Flow from Investing
-- -- -- -- 12,006 623 -- -- -- -- 2,842 -- -- -- -- -- 40.00 Issuance of Stock
3,993 -4,844 -8,554 -12,319 -1,249 -- -1,263 -1,456 -4,164 -9,278 -1,218 -1,099 -21,429 -2,550 -17.00 29.00 -11.00 Repurchase of Stock
-- -- -- -- 2,965 -- -- -3,300 3,960 990 -- -- -- -- -- -- -- Net Issuance of Preferred Stock
56,980 61,902 93,333 50,962 19,743 -32,077 -48,915 -29,256 -40,704 -29,316 -30,190 -57,546 -58,411 -12,642 -21,542 -14,102 -14,102 Net Issuance of Debt
-8,278 -9,352 -10,420 -11,492 -12,408 -8,986 -4,790 -6,458 -7,189 -7,821 -8,852 -9,295 -8,806 -8,650 -4,474 -649 -649 Cash Flow for Dividends
-48,101 -53,825 -50,692 786 -1,921 -3,073 -6,618 -6,393 -2,977 -150 23,304 -8,114 -1,818 5,358 -5,774 -1,411 -1,411 Other Financing
4,594 -6,119 23,667 27,937 19,136 -43,513 -61,586 -46,863 -51,074 -45,575 -16,956 -76,054 -90,464 -18,484 -31,807 -16,133 -16,133 Cash Flow from Financing
2,664 -3,527 2,475 1,755 32,336 24,077 6,641 5,537 -7,163 11,257 2,227 -139 -41,315 -5,660 -9,177 1,528 1,528 Net Change in Cash
-12,936 -13,762 -15,788 -17,803 -16,010 -8,634 -9,800 -12,637 -15,119 -6,754 -7,134 -8,087 -7,948 -7,096 -6,947 -6,095 -6,095 Capital Expenditure
23,557 23,929 15,667 25,519 32,643 15,783 26,324 20,722 16,212 21,756 20,575 11,804 -6,788 -542 -1,969 2,677 2,677 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GE 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
21.53 21.46 17.97 16.50 9.05 14.25 16.74 14.00 15.64 19.81 16.09 -- 33.76 -- -- -- -- PE Ratio(TTM)
24.33 32.39 23.35 12.93 10.36 15.58 17.08 17.88 28.15 45.89 32.47 -- 29.44 -- -- -- -- Price to Owner Earnings
(TTM)
3.36 3.21 3.30 3.08 1.57 1.32 1.57 1.56 1.71 2.08 1.91 2.86 3.50 2.60 2.05 3.44 3.46 Price to Book
11.49 12.67 13.52 19.45 20.73 3.83 4.19 5.74 5.54 7.02 3.95 18.79 -- -- -- -- -- Price to Tangible Book
15.58 14.93 23.66 14.23 4.86 9.81 7.14 8.83 13.13 12.92 11.95 14.40 -- -- -- 36.35 36.51 Price-to-Free-Cash-Flow
Ratio
10.06 9.48 11.79 8.39 3.25 6.34 5.20 5.48 6.80 9.84 8.87 9.34 239 22.27 12.66 11.08 11.13 Price-to-Operating-Cash-
Flow Ratio
2.73 2.62 2.40 2.11 0.86 0.99 1.26 1.29 1.48 2.54 2.05 2.61 2.32 1.48 0.59 0.92 0.92 PS Ratio
63.46 12.76 3.70 1.40 0.62 3.19 -- -- -- -- -- -- -- -- -- -- -- PEG Ratio
5.07 4.97 4.82 4.73 3.14 3.29 3.69 3.57 3.49 4.79 3.41 3.28 2.60 2.17 1.15 1.02 1.03 EV-to-Revenue
16.90 15.48 14.59 13.26 10.01 13.13 21.80 16.95 18.38 30.86 23.08 22.92 17.44 -59.23 -9.74 12.37 12.43 EV-to-EBITDA
21.32 18.86 17.49 15.92 12.53 18.05 35.71 24.27 27.67 53.05 32.04 40.42 37.64 -21.93 -6.40 34.34 34.51 EV-to-EBIT
4.69 5.30 5.72 6.28 7.98 5.54 2.80 4.12 3.61 1.89 3.12 2.47 2.66 -4.56 -15.63 2.91 2.90 Return on Capital %
4.86 7.41 10.31 17.22 28.88 19.74 5.12 -3.42 -9.21 -8.31 -9.39 -9.56 -5.57 -18.86 -- -- 3.40 Forward Rate of Return
27.91 24.61 23.54 21.06 8.96 8.33 10.24 10.07 11.94 16.18 15.06 21.70 24.14 17.64 14.39 33.68 33.83 Shiller PE Ratio
2.25 2.60 2.77 3.10 7.65 4.03 2.52 3.41 3.33 2.82 3.52 2.95 2.94 4.81 4.89 0.36 0.37 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
371,950 351,164 367,623 355,858 164,425 155,041 186,619 182,067 209,985 271,041 244,294 280,816 265,600 145,573 63,352 97,466 97,978 Market Cap
680,544 678,682 745,976 816,968 570,647 510,979 547,598 505,331 503,450 527,762 408,862 377,832 311,040 215,640 122,824 108,148 108,660 Enterprise Value
35.09 33.69 35.77 35.63 15.57 14.54 17.58 17.22 20.18 26.94 24.29 29.94 30.38 16.77 7.28 11.16 11.21 Month End Stock Price
-53.83 -49.22 -50.91 -61.99 -57.14 -50.90 -47.66 -44.44 -41.92 -39.11 -41.89 -31.17 -22.52 -26.64 -24.76 -17.50 -17.50 Net Cash (per share)
-23.83 -17.82 -15.08 -19.16 -17.97 -16.98 -12.09 -13.94 -13.03 -10.30 -35.58 -23.58 -14.93 -19.14 -19.60 -11.74 -11.74 Net Current Asset Value
(per share)
-31.56 -25.92 -24.28 -30.19 -28.09 -25.74 -23.86 -21.94 -20.64 -17.94 -37.80 -26.30 -17.62 -21.99 -21.43 -14.37 -14.37 Net-Net Working Capital
(per share)
22.17 24.38 26.12 33.61 39.27 30.37 29.64 29.24 30.15 30.15 29.14 28.49 22.38 17.28 11.65 7.89 7.89 Projected FCF (per share)
34.66 35.15 40.68 45.51 46.39 36.21 32.38 28.13 26.04 17.69 19.70 19.10 21.83 18.61 19.16 18.90 18.90 Median PS (per share)
-- 7.94 9.66 25.39 25.20 5.02 -- 15.13 50.75 -- -- -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
10.45 9.91 10.52 9.52 5.48 9.24 10.42 9.11 10.64 7.99 11.40 2.47 -- -- -- -- -- Graham Number (per share)
-6.03 -6.64 -8.92 -13.72 -2.98 4.71 9.76 15.39 18.28 -16.82 -13.78 -15.70 -19.36 -31.31 -4.93 -0.42 -0.42 Earnings Power Value
(EPV)
1.14 1.27 1.39 1.32 1.20 1.12 1.16 1.11 1.22 1.28 0.96 1.29 1.74 1.14 0.89 1.41 1.41 Altman Z-Score
5.00 6.00 7.00 8.00 5.00 4.00 5.00 7.00 7.00 6.00 8.00 5.00 5.00 4.00 5.00 6.00 6.00 Piotroski F-Score
-2.22 -2.71 -2.52 -2.49 -2.67 -2.62 -2.66 -2.54 -2.20 -2.25 -2.33 -2.84 -2.45 -2.60 -2.69 -2.94 -2.94 Beneish M-Score
0.65 0.58 0.73 0.83 0.64 0.59 0.61 0.59 0.58 0.57 0.45 0.30 0.25 0.35 0.25 0.13 0.15 Scaled Net Operating
Assets
2.54 2.10 6.02 6.08 0.44 -7.13 -7.61 -5.44 -4.23 -6.79 -1.14 -17.34 -11.72 -5.53 -14.66 -8.53 -8.53 Sloan Ratio (%)
1.93 1.85 1.97 1.99 2.30 2.40 2.38 1.92 2.14 2.28 1.49 1.63 1.92 1.81 1.79 1.78 1.78 Current Ratio
1.89 1.79 1.93 1.94 2.24 2.34 2.33 1.87 2.07 2.18 1.33 1.41 1.65 1.57 1.57 1.60 1.60 Quick Ratio
36.03 35.74 36.67 40.49 36.94 16.41 18.74 20.69 22.22 26.94 26.94 30.07 31.65 30.47 18.28 11.58 13.26 Highest Stock Price
28.05 31.41 30.87 32.77 12.34 6.40 13.34 14.12 17.22 20.09 23.02 22.37 26.39 16.69 6.45 7.28 7.65 Lowest Stock Price
-5.17 1.67 1.40 2.82 -5.74 -0.97 0.45 0.40 1.58 3.31 0.03 6.74 6.79 0.71 -0.25 -0.36 -0.36 Shares Buyback Ratio (%)
14.74 0.12 13.28 15.77 6.52 -18.65 -4.98 -4.15 2.41 -21.54 7.43 -0.02 13.81 -12.66 -2.33 -2.22 -1.35 YoY Rev. per Sh. Growth
(%)
8.61 -4.27 27.39 8.50 -20.74 -41.28 4.95 16.04 4.88 -1.55 18.11 -141 221 -237 -154 76.34 75.95 YoY EPS Growth (%)
11.19 7.16 17.91 23.69 -6.29 -35.05 -36.16 19.91 -7.66 -43.17 9.30 -11.99 18.56 -125 -247 167 169 YoY EBITDA Growth (%)
0.35 1.62 5.06 11.54 14.16 4.61 -7.42 -16.73 -20.13 -16.11 -17.85 -15.97 -9.87 -25.44 -- -- -- EBITDA 5-Y Growth (%)
10,400 10,570 10,359 10,182 10,080 10,614 10,661 10,591 10,523 10,222 10,045 9,944 9,025 8,687 8,691 8,724 8,706 Shares Outstanding (Basic
Average)
10,600 10,423 10,277 9,988 10,560 10,663 10,615 10,573 10,406 10,061 10,057 9,379 8,743 8,681 8,702 8,734 8,740 Shares Outstanding (EOP)
0.88 0.78 0.56 0.58 1.00 1.65 1.69 1.92 1.40 1.18 1.26 1.21 1.21 0.90 0.32 1.24 1.26 Beta
03/01/05 03/03/06 02/27/07 02/20/08 02/18/09 02/19/10 02/25/11 02/24/12 02/26/13 02/27/14 02/27/15 02/26/16 02/24/17 02/23/18 02/26/19 02/24/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GE 6/7
02/27/07 02/20/08 02/18/09 02/19/10 02/25/11 02/25/11 02/26/13 02/27/14 02/27/15 02/26/16 02/24/17 02/23/18 02/26/19 02/24/20 02/24/20 02/24/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GE 7/7
Microchip Technology Inc (NAS:MCHP) 03/02/2020 4:00PM EST GuruFocus
Price: $ 95.22 +4.51(+4.97%) Market Cap: $ 22.81 B Enterprise Value: $32.14 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 37.64
Cash to Debt 0.04 Operating margin (%) 14.73
Forward P/E N/A
Equity to Asset 0.32 Net-margin (%) 12.23
PE(NRI) 37.64
Interest Coverage 1.50 ROE (%) 12.08
F-Score:
P/B 4.06
ROA (%) 3.58
5 P/S 4.59
Z-Score: ROC (Joel Greenblatt) (%) 42.71
1.84 PFCF 16.39
Revenue Growth (3Y)(%) 28.90
M-Score: POCF 15.39
-2.39 EBITDA Growth (3Y)(%) 27.30
EV-to-EBIT 41.53
WACC vs 10.08% EPS Growth (3Y)(%) -1.60
ROIC 13.01% PEG 2.12
WACC
ROIC Shiller P/E 59.88
Current Ratio 0.90
Quick Ratio 0.60
Days Inventory 129.17
Days Sales Outstanding 55.85
Warning Signs Quarterly Revenues Company Description
Interest Coverage: Low Mar Jun Sep Dec Full Year Microchip became an independent company in 1989 when it was spun off from General Instrument. More than half of
revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door
2016 558 799 871 834 3,063 openers to power windows in autos. The company's strength lies in lower-end 8-bit MCUs that are suitable for a wider
Revenue per Share: Growth
2017 903 972 1,012 994 3,881 range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and
slow down analog chips as well.... (Read More)
2018 1,002 1,213 1,433 1,375 5,022
Competitors: SHSE:603501 , XPAR:STM, XTER:IFX, NAS:XLNX, TPE:2454 , NAS:SWKS, SHSE:603986 ,
Tax Rate: Tax Rate is too low 2019 1,330 1,323 1,338 1,287 5,278 SHSE:688008, SHSE:600703, NAS:MXIM, NAS:MRVL, NAS:NXPI, TSE:6723, NAS:QRVO, TPE:3711, HKSE:00981,
2020 NAS:CY, TPE:2408, SZSE:300782, NAS:ON
Insider Sell: Insider Selling
Quarterly Earnings per Share Insider Trades
Good Signs Mar Jun Sep Dec Full Year
2016 0.31 -0.53 0.14 0.46 0.38
PE Ratio: Close to 3-year low 2017 0.57 0.70 0.77 -1.07 0.97
2018 0.58 0.14 0.38 0.20 1.30
DCF 2019 0.70 0.20 0.43 1.20 2.53
2020
EPS without NRI: $2.53
Growth Rate in the next 10 Quarterly Dividends Per Share
years: 5% Mar Jun Sep Dec Full Year
Terminal Growth Rate for 10 2016 0.36 0.36 0.36 0.36 1.44
years: 4% 2017 0.36 0.36 0.36 0.36 1.45
Fair Value: $27.08 2018 0.36 0.36 0.36 0.36 1.46
2019 0.37 0.37 0.37 0.37 1.46
2020
Reverse DCF
Expected eps Growth Rate: Growth Rate
24.22% Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 14.60 19.70 3.10
EBITDA Growth (%) 11.00 17.70 29.40
Free Cash Flow Growth (%) 14.20 19.70 4.70
Book Value Growth (%) 10.00 15.20 7.70
EPS Growth (%) -2.30 -9.20 94.60
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCHP 1/7
Per Share Data
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
3.30 4.00 4.32 4.71 4.88 4.84 5.06 7.64 6.80 7.69 8.87 9.60 10.00 14.51 15.99 21.41 20.73 Revenue per Share
1.33 1.79 2.03 2.10 2.02 1.91 1.92 3.08 2.52 1.93 3.08 3.07 3.08 3.00 6.24 6.34 7.54 EBITDA per Share
0.81 1.22 1.52 1.58 1.55 1.40 1.44 2.53 2.03 0.94 2.21 1.83 1.77 1.01 3.76 2.83 3.05 EBIT per Share
0.65 1.01 1.13 1.62 1.40 1.31 1.16 2.15 1.65 0.62 1.82 1.65 1.49 0.71 1.03 1.42 2.53 Earnings per Share (diluted)
0.65 1.01 1.13 1.62 1.40 1.31 1.16 2.20 1.65 0.62 1.82 1.65 1.49 0.73 1.03 1.42 2.53 eps without NRI
0.64 1.02 1.67 1.59 1.89 1.53 1.44 2.32 1.35 1.51 2.43 2.35 2.50 3.02 4.27 4.92 4.45 Owner Earnings per Share (TTM)
1.32 1.37 1.68 1.67 1.78 1.10 2.16 2.35 1.72 1.99 2.59 2.56 2.97 4.19 4.87 5.79 5.81 Free Cashflow per Share
0.11 0.21 0.57 0.97 1.21 1.35 1.36 1.37 1.39 1.41 1.42 1.43 1.43 1.44 1.45 1.46 1.46 Dividends per Share
6.39 7.15 8.08 9.18 5.62 5.42 8.27 9.56 10.31 9.84 10.68 10.12 10.54 14.28 13.96 22.26 23.45 Book Value per Share
6.19 6.95 7.89 9.00 5.39 5.08 7.86 8.75 9.35 5.76 7.07 4.80 2.61 -5.14 -2.90 -33.93 -29.17 Tangible Book per Share
-- 0.22 1.26 -- 6.24 6.67 1.84 1.83 1.84 5.01 5.10 9.04 12.02 12.88 13.06 43.38 40.64 Total Debt per Share
26.42 26.01 36.37 35.53 32.73 21.19 28.16 38.01 37.20 36.77 47.76 48.90 48.20 73.78 91.36 82.96 95.22 Month End Stock Price
Ratios
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
10.98 15.24 15.09 19.14 19.58 24.23 17.19 25.04 17.71 6.49 19.43 17.66 15.45 6.07 7.80 8.31 12.08 Return on Equity %
9.00 12.43 11.63 15.46 12.45 9.96 8.79 15.28 11.13 3.67 9.98 8.34 6.28 2.49 3.20 2.68 3.58 Return on Assets %
19.31 32.30 45.11 51.22 46.64 36.00 38.01 69.43 53.16 23.32 57.66 46.06 42.54 24.73 83.19 47.37 42.71 Return on Capital %
14.62 24.28 21.73 24.92 26.34 30.18 30.36 56.28 39.09 15.86 26.82 24.19 20.07 20.10 7.29 13.48 13.01 Return on Invested Capital %
13.15 12.69 14.23 10.29 8.84 7.86 9.79 10.06 8.89 7.32 8.23 8.90 7.55 9.38 8.45 8.12 10.08 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 2.49 3.99 9.16 9.76 6.11 4.86 4.36 4.86 5.41 6.61 7.52 5.10 Effective Interest Rate on Debt %
50.05 57.14 59.37 60.09 60.34 57.18 56.37 59.26 57.79 53.01 58.45 57.27 55.47 51.56 60.81 54.80 61.55 Gross Margin %
24.50 30.54 35.17 33.45 31.71 26.54 25.98 32.01 28.73 13.32 23.92 19.96 16.39 10.99 23.96 13.98 14.73 Operating Margin %
19.63 25.24 26.12 34.34 28.75 27.19 22.90 28.17 24.34 8.05 20.47 17.19 14.91 4.83 6.42 6.65 12.23 Net Margin %
39.98 34.18 38.91 35.56 36.45 22.84 42.67 30.81 25.28 25.83 29.18 26.63 29.75 28.88 30.47 27.03 28.04 FCF Margin %
-- 0.03 0.16 -- 1.11 1.23 0.22 0.19 0.18 0.51 0.48 0.89 1.14 0.90 0.94 1.95 1.73 Debt to Equity
0.81 0.82 0.73 0.88 0.41 0.41 0.61 0.61 0.65 0.50 0.53 0.43 0.39 0.43 0.40 0.29 0.32 Total Equity to Total Asset
-- 0.03 0.11 -- 0.46 0.50 0.14 0.12 0.12 0.26 0.25 0.38 0.44 0.38 0.37 0.56 0.55 Total Debt to Total Asset
22.94 28.14 26.43 27.04 26.14 20.94 21.64 32.14 26.41 24.18 28.51 27.79 23.37 26.57 30.36 22.03 18.01 Gross Profit to Total Asset %
0.46 0.49 0.45 0.45 0.43 0.37 0.38 0.54 0.46 0.46 0.49 0.49 0.42 0.52 0.50 0.40 0.29 Asset Turnover
0.17 0.21 0.50 0.60 0.86 1.03 1.17 0.63 0.84 2.27 0.78 0.86 0.96 1.98 1.41 1.03 0.58 Dividend Payout Ratio
57.02 48.74 54.82 43.73 48.74 35.77 53.07 44.47 44.91 53.07 45.81 46.57 48.74 51.24 51.69 60.08 55.85 Days Sales Outstanding
63.93 34.52 49.23 30.50 34.93 27.58 39.05 41.22 31.44 37.11 33.68 34.56 29.91 32.99 33.71 34.17 37.65 Days Accounts Payable
103 99.68 106 104 109 121 110 89.56 124 113 115 108 111 80.05 105 89.65 129 Days Inventory
95.94 114 111 117 123 129 124 92.81 138 129 127 120 129 98.30 122 116 147 Cash Conversion Cycle
3.55 3.66 3.45 3.52 3.35 3.02 3.33 4.08 2.93 3.23 3.18 3.38 3.30 4.56 3.49 4.07 2.83 Inventory Turnover
0.50 0.43 0.41 0.40 0.40 0.43 0.44 0.41 0.42 0.47 0.42 0.43 0.45 0.48 0.39 0.45 0.38 COGS to Revenue
0.14 0.12 0.12 0.11 0.12 0.14 0.13 0.10 0.14 0.15 0.13 0.13 0.14 0.11 0.11 0.11 0.14 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCHP 2/7
Income Statement
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
699 847 928 1,040 1,036 903 948 1,487 1,383 1,582 1,931 2,147 2,173 3,408 3,981 5,350 5,278 Revenue
349 363 377 415 411 387 413 606 584 743 802 917 968 1,651 1,560 2,418 2,029 Cost of Goods Sold
350 484 551 625 625 517 534 881 799 838 1,129 1,230 1,206 1,757 2,421 2,931 3,249 Gross Profit
50.05 57.14 59.37 60.09 60.34 57.18 56.37 59.26 57.79 53.01 58.45 57.27 55.47 51.56 60.81 54.80 61.55 Gross Margin %
92.41 111 130 163 176 161 167 222 208 261 267 275 302 500 452 683 678 Selling, General, & Admin. Expense
85.39 93.04 94.93 114 121 116 121 171 183 255 305 350 373 545 529 826 871 Research & Development
0.86 21.10 -- -- -- 0.00 -0.00 12.41 10.96 112 94.53 177 175 338 486 674 922 Other Operating Expense
171 259 326 348 328 240 246 476 397 211 462 428 356 374 954 748 777 Operating Income
24.50 30.54 35.17 33.45 31.71 26.54 25.98 32.01 28.73 13.32 23.92 19.96 16.39 10.99 23.96 13.98 14.73 Operating Margin %
-- -- -- -- -- 32.55 15.33 16.00 17.99 15.56 16.49 19.53 24.40 3.10 22.00 8.10 3.10 Interest Income
-- -- -- -- -- -29.44 -31.15 -31.52 -34.27 -40.92 -48.72 -62.03 -104 -146 -199 -503 -518 Interest Expense
-- -- -- -- -- 3.11 -15.83 -15.52 -16.27 -25.36 -32.23 -42.51 -79.60 -143 -177 -495 -515 Net Interest Income
6.60 18.62 32.82 53.28 22.56 -10.79 7.44 0.17 -1.38 -33.20 2.70 -40.05 4.60 -141 -39.50 -48.70 -6.50 Other Income (Expense)
-- -- -- -- -- -- -- -- -- -- -- 3.68 0.20 -- -- -- -- Other Income (Minority Interest)
178 277 359 401 351 232 238 461 380 152 432 346 281 89.80 737 205 256 Pre-Tax Income
-40.63 -63.48 -117 -44.06 -53.24 13.51 -20.81 -31.53 -42.99 -24.79 -37.07 19.42 42.60 80.80 -482 151 390 Tax Provision
22.84 22.90 32.52 10.99 15.17 -5.82 8.75 6.84 11.32 16.29 8.57 -5.61 -15.14 -89.98 65.36 -74.03 -152 Tax Rate %
137 214 242 357 298 246 217 429 337 127 395 365 324 171 255 356 645 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -10.22 -- -- -- -- -- -6.00 -- -- -- Net Income (Discontinued
Operations)
137 214 242 357 298 246 217 419 337 127 395 369 324 165 255 356 645 Net Income
19.63 25.24 26.12 34.34 28.75 27.19 22.90 28.17 24.34 8.05 20.47 17.19 14.91 4.83 6.42 6.65 12.23 Net Margin %
0.67 1.03 1.15 1.66 1.44 1.34 1.18 2.24 1.76 0.65 1.99 1.84 1.59 0.76 1.10 1.51 2.71 EPS (Basic)
0.65 1.01 1.13 1.62 1.40 1.31 1.16 2.15 1.65 0.62 1.82 1.65 1.49 0.71 1.03 1.42 2.53 EPS (Diluted)
212 212 215 221 212 187 187 195 204 206 218 224 217 235 249 250 258 Shares Outstanding (Diluted
Average)
112 120 111 116 100 96.05 90.06 107 99.42 204 189 278 283 469 616 876 1,143 Depreciation, Depletion and
Amortization
283 379 437 464 429 358 359 599 513 397 670 686 669 705 1,552 1,584 1,917 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCHP 3/7
Balance Sheet
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
105 68.73 565 167 488 446 492 704 636 528 467 608 2,093 909 901 429 397 Cash And Cash Equivalents
369 666 199 583 837 944 722 540 823 1,050 878 1,351 353 394 1,295 2.30 5.20 Marketable Securities
475 735 765 750 1,325 1,390 1,214 1,243 1,459 1,579 1,345 1,959 2,446 1,303 2,197 431 402 Cash, Cash Equivalents, Marketable
Securities
109 113 139 125 138 88.53 138 181 170 230 242 274 290 478 564 881 808 Accounts Receivable
9.17 4.85 3.51 5.12 4.21 3.69 4.91 8.17 8.07 9.02 9.73 13.26 12.18 14.40 26.00 74.50 85.60 Inventories, Raw Materials &
Components
57.59 73.30 80.95 83.78 95.97 115 101 141 139 182 180 198 208 268 312 413 460 Inventories, Work In Process
27.76 25.58 30.57 32.12 24.31 13.14 11.06 31.16 70.17 51.56 73.30 68.63 86.35 135 138 224 163 Inventories, Finished Goods
-- -0.00 -- -- -- -- -0.00 -- -- -- -- -- -- -- -0.00 -- -- Inventories, Other
94.51 104 115 121 124 132 117 181 217 242 263 279 307 417 476 712 709 Total Inventories
206 124 99.68 88.68 130 133 142 169 169 185 119 152 53.68 107 120 192 185 Other Current Assets
884 1,075 1,119 1,085 1,718 1,743 1,611 1,775 2,016 2,236 1,969 2,665 3,097 2,305 3,356 2,215 2,104 Total Current Assets
-- -- -- -- -- 50.83 317 465 329 257 799 383 119 108 -- -- -- Investments And Advances
33.49 45.64 47.21 47.21 39.76 39.67 39.67 46.50 46.53 47.10 55.62 55.62 63.91 73.40 73.40 83.40 83.40 Land And Improvements
293 356 366 372 331 335 350 376 374 397 411 434 458 500 509 648 658 Buildings And Improvements
852 938 991 1,060 1,101 1,149 1,191 1,306 1,314 1,378 1,465 1,576 1,646 1,775 1,944 2,096 2,130 Machinery, Furniture, Equipment
145 84.85 87.34 69.04 78.07 114 84.25 101 83.68 76.16 68.99 76.32 99.37 104 118 119 109 Construction In Progress
1,324 1,425 1,492 1,548 1,549 1,637 1,664 1,830 1,819 1,898 2,001 2,142 2,267 2,452 2,644 2,946 2,980 Gross Property, Plant and Equipment
-635 -732 -832 -942 -1,027 -1,106 -1,171 -1,289 -1,302 -1,383 -1,469 -1,561 -1,658 -1,769 -1,876 -1,949 -2,070 Accumulated Depreciation
689 693 660 606 522 532 493 541 517 515 532 582 609 683 768 997 910 Property, Plant and Equipment
42.04 41.18 41.38 40.34 43.50 61.88 75.87 154 184 801 722 1,076 1,619 4,447 3,961 13,350 12,604 Intangible Assets
-- -- 31.89 31.89 31.89 36.17 40.34 76.02 93.51 271 276 571 1,013 2,299 2,299 6,664 6,665 Goodwill
6.95 7.73 530 539 229 34.25 19.23 33.78 38.77 41.56 45.96 75.51 94.22 144 172 1,789 1,971 Other Long Term Assets
1,622 1,818 2,351 2,270 2,512 2,421 2,516 2,968 3,084 3,851 4,068 4,781 5,538 7,687 8,257 18,350 17,589 Total Assets
61.18 34.33 50.85 34.68 39.32 29.23 44.24 68.43 50.29 75.55 74.05 86.87 79.31 149 144 226 209 Accounts Payable
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 27.50 46.90 10.80 Total Tax Payable
185 169 241 165 95.64 71.71 104 200 139 203 171 188 199 362 286 514 438 Accounts Payable & Accrued
Expense
-- 45.45 269 -- -- -- -- -- -- -- 17.50 -- -- 50.00 1,310 1,361 1,444 Current Portion of Long-Term Debt
84.82 91.73 99.48 91.36 95.44 -- 98.94 140 109 139 148 166 183 293 334 -- -- Current Deferred Revenue
84.82 91.73 99.48 91.36 95.44 83.93 98.94 140 109 139 148 166 183 293 334 -- -- DeferredTaxAndRevenue
-0.00 -- -- -- -0.00 0.00 -- -0.00 -- -- -- -- -- -- 87.60 500 455 Other Current Liabilities
270 307 609 256 191 156 203 340 248 342 336 354 382 705 2,017 2,375 2,337 Total Current Liabilities
-- -- -- -- 1,150 1,219 341 347 355 983 1,003 1,827 2,453 2,901 1,758 8,946 8,180 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 111 Capital Lease Obligation
-- -- -- -- 1,150 1,219 341 347 355 983 1,003 1,827 2,453 2,901 1,758 8,946 8,291 Long-Term Debt & Capital Lease
Obligation
-- 0.03 0.16 -- 1.11 1.23 0.22 0.19 0.18 0.51 0.48 0.89 1.14 0.90 0.94 1.95 1.73 Debt to Equity
30.70 24.56 14.64 8.33 21.46 51.96 377 400 411 388 375 381 399 409 206 706 386 NonCurrent Deferred Liabilities
-- -- -- -- -- -- -- -- -- -- -- 16.37 -- -- -- -- -- Minority Interest
0.87 0.60 0.80 0.93 113 3.83 62.16 68.44 78.81 205 218 158 152 402 996 1,036 958 Other Long-Term Liabilities
302 332 624 265 1,476 1,431 983 1,156 1,093 1,918 1,932 2,720 3,387 4,416 4,977 13,063 11,972 Total Liabilities
0.21 0.21 0.21 0.22 0.18 0.18 0.19 0.19 0.19 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 Common Stock
813 984 1,106 1,255 1,301 1,303 1,267 1,429 1,499 1,353 1,467 1,550 1,583 1,479 1,397 3,211 3,421 Retained Earnings
0.73 -9.72 -19.62 -7.17 2.51 4.31 3.03 3.36 3.10 6.94 1.05 11.08 -3.36 -14.40 -17.60 -20.70 -22.00 Accumulated other comprehensive
income (loss)
558 533 639 756 794 778 1,277 1,268 1,269 1,256 1,245 1,000 1,392 2,537 2,563 2,680 2,739 Additional Paid-In Capital
-52.08 -21.52 -- -- -1,062 -1,095 -1,013 -888 -781 -682 -577 -516 -820 -732 -663 -582 -521 Treasury Stock
1,321 1,486 1,726 2,004 1,036 991 1,533 1,812 1,991 1,933 2,135 2,045 2,151 3,271 3,280 5,288 5,617 Total Equity
0.81 0.82 0.73 0.88 0.41 0.41 0.61 0.61 0.65 0.50 0.53 0.43 0.39 0.43 0.40 0.29 0.32 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCHP 4/7
Cashflow Statement
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
137 214 242 357 298 246 217 419 337 127 395 365 324 165 255 356 645 Net Income
137 214 242 357 298 246 217 419 337 127 395 365 324 165 255 356 645 Net Income From Continuing
Operations
112 120 111 116 100 96.05 90.06 107 99.42 204 189 278 283 469 616 876 1,143 Depreciation, Depletion and
Amortization
-13.84 -5.20 -26.27 14.80 -13.76 50.83 -49.08 6.34 11.85 0.39 -12.51 -15.89 -2.10 -46.80 -85.30 239 123 Change In Receivables
7.36 -9.21 -11.30 -2.66 -2.90 -4.11 15.24 -22.07 -35.24 65.87 -18.50 25.52 48.20 224 -59.20 342 2.70 Change In Inventory
30.90 1.18 72.05 -75.98 12.08 -25.10 29.58 -0.64 -61.46 -40.91 -11.63 -33.99 14.90 -17.00 354 -372 -176 Change In Payables And Accrued
Expense
37.99 -12.48 37.80 -79.54 -10.16 -28.36 -4.17 -13.16 -108 77.16 14.89 -8.94 78.10 295 265 185 -94.30 Change In Working Capital
-12.19 16.87 17.52 9.02 9.56 28.11 22.33 24.00 21.95 -28.37 5.32 -32.81 -60.40 -127 51.20 -62.20 -437 Change In DeferredTax
-- -- -- -- -- 32.48 36.78 36.81 38.29 52.07 53.79 58.60 71.40 128 93.20 166 168 Stock Based Compensation
68.39 14.07 28.96 27.09 49.84 -68.77 85.29 4.78 21.66 26.20 17.79 58.46 43.60 104 123 144 140 Cash Flow from Others
343 353 437 430 447 309 452 583 412 459 677 721 744 1,060 1,420 1,675 1,576 Cash Flow from Operations
-63.51 -63.21 -76.29 -60.04 -69.83 -102 -47.60 -124 -62.37 -50.82 -113 -149 -97.90 -75.30 -207 -229 -95.80 Purchase Of Property, Plant,
Equipment
2.33 1.66 1.34 1.75 1.73 -- 0.10 -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -126 -38.58 -752 -11.19 -660 -362 -2,748 -- -7,851 -- Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- 2.70 1.70 -- -- -- Sale Of Business
-1,292 -1,061 -857 -1,327 -1,858 -2,501 -1,650 -1,008 -1,149 -999 -1,337 -959 -1,574 -500 -1,595 -168 -- Purchase Of Investment
1,086 752 798 944 1,959 2,583 1,502 1,055 984 857 951 1,097 2,824 471 787 1,455 2.10 Sale Of Investment
-0.70 0.00 -2.59 -0.84 22.51 0.17 -- 15.10 -5.41 -4.42 7.17 -6.66 7.20 12.80 3.20 -18.40 -47.80 Cash From Other Investing Activities
-268 -371 -137 -442 55.66 -19.83 -195 -188 -272 -950 -503 -678 800 -2,838 -1,012 -6,811 -141 Cash Flow from Investing
53.15 47.23 95.75 68.72 59.11 33.56 36.48 71.94 57.46 51.37 60.09 34.43 28.70 42.20 42.00 42.60 54.50 Issuance of Stock
-53.86 -68.28 -3.32 -- -1,138 -124 -- -- -- -- -- -- -364 -- -- -- -- Repurchase of Stock
-- 45.45 224 -269 1,127 -- -- -- -- 620 29.55 402 590 964 -74.20 5,110 -1,108 Net Issuance of Debt
-23.32 -43.00 -120 -208 -252 -247 -250 -257 -266 -274 -281 -286 -291 -315 -338 -344 -349 Cash Flow for Dividends
-- -- -- 22.79 21.18 6.80 2.09 1.85 0.58 -15.37 -43.44 -51.13 -23.20 -95.30 -45.60 -145 -66.80 Other Financing
-24.04 -18.59 196 -385 -183 -330 -211 -183 -208 382 -235 98.55 -59.90 596 -415 4,664 -1,469 Cash Flow from Financing
51.43 -36.60 497 -398 320 -41.41 45.80 212 -68.17 -107 -61.73 141 1,485 -1,184 -7.40 -473 -35.10 Net Change in Cash
-63.51 -63.21 -76.29 -60.04 -69.83 -102 -47.60 -124 -62.37 -50.82 -113 -149 -97.90 -75.30 -207 -229 -95.80 Capital Expenditure
280 289 361 370 377 206 404 458 350 409 563 572 647 984 1,213 1,446 1,480 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCHP 5/7
Valuation Ratios
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
41.28 25.50 31.90 21.93 23.21 16.18 24.28 17.76 22.41 60.28 26.39 29.46 32.35 115 93.22 58.42 37.64 PE Ratio(TTM)
41.15 25.43 21.78 22.29 17.29 13.87 19.61 16.39 27.56 24.43 19.66 20.80 19.26 24.47 21.38 16.85 21.40 Price to Owner Earnings
(TTM)
4.13 3.64 4.50 3.87 5.82 3.91 3.40 3.98 3.61 3.74 4.47 4.83 4.57 5.17 6.55 3.73 4.06 Price to Book
4.27 3.74 4.61 3.95 6.08 4.17 3.58 4.34 3.98 6.38 6.76 10.20 18.50 -- -- -- -- Price to Tangible Book
20.09 19.07 21.66 21.21 18.34 19.46 13.03 16.17 21.63 18.39 18.45 19.11 16.22 17.35 18.32 14.31 16.39 Price-to-Free-Cash-Flow
Ratio
16.36 15.63 17.91 18.26 15.45 12.96 11.67 12.70 18.34 16.33 15.37 15.16 14.08 16.12 15.65 12.36 15.39 Price-to-Operating-Cash-
Flow Ratio
8.03 6.52 8.44 7.56 6.61 4.39 5.57 4.97 5.47 4.72 5.38 5.09 4.82 4.99 5.58 3.87 4.59 PS Ratio
8.86 4.98 2.47 1.24 1.85 2.22 -- 5.63 2.66 13.28 3.45 7.88 7.08 18.26 6.22 3.17 2.12 PEG Ratio
7.13 5.57 7.84 6.74 5.66 4.10 4.58 4.24 4.40 4.19 4.78 4.55 4.53 5.44 5.61 5.53 6.09 EV-to-Revenue
17.45 12.43 16.64 15.10 13.66 10.75 12.10 10.53 11.85 16.69 13.77 14.23 14.73 26.30 14.39 18.68 16.76 EV-to-EBITDA
29.09 18.23 22.29 20.15 17.84 14.90 16.16 12.82 14.69 34.33 19.18 23.94 25.55 78.57 23.86 41.83 41.53 EV-to-EBIT
3.44 5.49 4.49 4.96 5.61 6.71 6.19 7.80 6.81 2.91 5.21 4.18 3.91 1.27 4.19 2.39 2.41 Return on Capital %
6.24 7.54 15.79 21.56 17.70 14.42 3.55 7.80 13.23 9.55 12.04 8.29 9.50 9.88 18.72 23.31 24.74 Forward Rate of Return
60.19 49.20 57.67 45.65 35.84 21.11 26.29 30.77 27.01 26.08 31.34 31.28 30.32 49.04 62.32 55.95 59.88 Shiller PE Ratio
0.43 0.80 1.57 2.72 3.68 6.35 4.83 3.61 3.74 3.82 2.97 2.92 2.98 1.95 1.59 1.76 1.55 Dividend Yield %
Valuation and Quality
Mar04 Mar05 Mar06 Mar07 Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
5,458 5,403 7,769 7,758 6,033 3,875 5,219 7,204 7,185 7,224 9,552 9,882 9,837 16,903 21,472 19,710 22,809 Market Cap
4,984 4,714 7,273 7,008 5,859 3,704 4,345 6,308 6,081 6,629 9,228 9,766 9,844 18,550 22,344 29,586 32,141 Enterprise Value
26.42 26.01 36.37 35.53 32.73 21.19 28.16 38.01 37.20 36.77 47.76 48.90 48.20 73.78 91.36 82.96 95.22 Month End Stock Price
0.84 1.94 0.66 2.22 -0.82 -0.22 1.25 0.46 1.89 -1.73 -2.94 -3.85 -4.61 -13.59 -11.83 -53.17 -48.30 Net Cash (per share)
2.82 3.58 2.31 3.75 1.31 1.71 3.39 3.27 4.78 1.62 0.19 -0.35 -1.42 -9.22 -6.90 -45.66 -41.20 Net Current Asset Value
(per share)
1.46 2.60 1.42 2.93 0.08 0.50 2.12 1.66 3.12 -0.23 -1.37 -2.14 -2.79 -11.11 -9.02 -48.89 -44.29 Net-Net Working Capital (per
share)
9.26 11.84 16.24 25.02 28.86 23.43 23.35 28.35 29.22 29.35 33.02 35.09 32.62 45.97 53.62 70.36 76.35 Projected FCF (per share)
19.76 25.97 30.63 35.10 37.59 36.66 37.71 56.19 47.94 50.99 52.95 51.84 51.95 76.39 84.63 110 105 Median PS (per share)
4.28 5.22 14.69 28.71 17.67 9.55 -- -- 13.98 3.16 13.85 -- -- 4.04 14.69 26.14 63.25 Peter Lynch Fair Value (per
share)
9.51 12.57 14.16 18.11 13.02 12.24 14.33 20.81 18.64 8.97 17.01 13.34 9.35 -- -- -- -- Graham Number (per share)
2.77 5.70 9.61 12.72 14.06 16.33 20.38 20.93 21.96 10.65 8.38 8.72 9.41 4.62 18.52 -16.90 15.81 Earnings Power Value
(EPV)
12.81 12.01 9.28 19.81 4.78 3.89 5.29 6.04 6.20 3.92 4.82 3.94 3.35 3.36 3.88 1.56 1.84 Altman Z-Score
6.00 8.00 6.00 7.00 7.00 5.00 5.00 6.00 5.00 4.00 6.00 6.00 5.00 5.00 6.00 6.00 5.00 Piotroski F-Score
-3.01 -2.85 0.37 -2.54 -4.08 -3.11 -1.54 -2.27 -2.66 -2.57 -2.59 -2.86 -2.81 -2.01 -3.08 -2.17 -2.39 Beneish M-Score
0.59 0.49 0.68 0.53 0.38 0.33 0.27 0.36 0.30 0.43 0.47 0.47 0.45 0.89 0.54 1.84 0.84 Scaled Net Operating
Assets
3.81 12.75 -2.48 16.28 -8.17 -1.79 -1.58 0.81 6.38 16.05 5.46 6.82 -22.04 25.28 -1.85 29.93 -4.48 Sloan Ratio (%)
3.27 3.51 1.84 4.24 8.99 11.20 7.92 5.22 8.13 6.55 5.86 7.53 8.11 3.27 1.66 0.93 0.90 Current Ratio
2.92 3.17 1.65 3.77 8.34 10.35 7.35 4.68 7.26 5.84 5.08 6.74 7.30 2.68 1.43 0.63 0.60 Quick Ratio
36.03 32.63 37.76 38.15 42.06 38.13 29.44 38.31 41.33 37.32 48.09 52.41 50.41 74.52 100 103 112 Highest Stock Price
18.15 24.28 24.60 31.11 26.86 16.59 19.78 26.61 29.60 29.37 34.23 37.73 39.57 47.16 72.15 61.30 77.66 Lowest Stock Price
-1.55 -0.56 -2.83 -2.22 15.58 0.80 -1.35 -2.27 -1.90 -1.72 -1.80 -1.04 -0.99 -12.26 -2.59 -1.09 -1.09 Shares Buyback Ratio (%)
6.56 21.24 7.98 9.11 3.74 -0.98 4.61 50.98 -11.02 13.10 15.46 8.23 4.09 45.18 10.20 33.84 3.12 YoY Rev. per Sh. Growth
(%)
54.76 55.38 11.88 43.36 -13.58 -6.43 -11.45 85.34 -23.26 -62.42 194 -9.34 -9.70 -52.35 45.07 37.86 94.62 YoY EPS Growth (%)
19.34 34.21 13.64 3.34 -3.76 -5.34 0.10 60.49 -17.95 -23.50 59.59 -0.32 0.16 -2.31 108 1.64 29.42 YoY EBITDA Growth (%)
4.66 5.12 12.89 17.72 12.53 7.29 -2.28 3.07 8.42 4.54 7.65 3.74 4.57 6.03 14.99 18.41 17.70 EBITDA 5-Y Growth (%)
206 207 210 215 207 183 184 187 191 195 198 201 203 217 233 236 239 Shares Outstanding (Basic
Average)
207 208 214 218 184 183 185 190 193 196 200 202 204 229 235 238 239 Shares Outstanding (EOP)
1.55 1.37 1.58 0.96 0.98 1.05 1.11 1.10 1.10 1.05 1.08 1.24 1.01 1.23 1.01 1.32 1.60 Beta
06/03/04 05/23/05 05/31/06 05/25/07 05/28/08 05/29/09 06/02/10 05/31/11 05/30/12 05/30/13 05/30/14 05/27/15 05/24/16 05/30/17 05/18/18 05/30/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCHP 6/7
06/03/04 05/31/06 05/31/06 05/28/08 05/28/08 05/31/11 05/31/11 05/30/13 05/30/14 05/27/15 05/24/16 05/30/17 05/18/18 05/30/19 05/30/19 05/30/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCHP 7/7
Simon Property Group Inc (NYSE:SPG) 03/02/2020 4:10PM EST GuruFocus
Price: $ 127.22 +4.14(+3.36%) Market Cap: $ 39.04 B Enterprise Value: $63.48 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 18.68
Cash to Debt 0.03 Operating margin (%) 50.62
Forward P/E N/A
Equity to Asset 0.08 Net-margin (%) 36.52
PE(NRI) 18.68
Interest Coverage 3.69 ROE (%) 71.72
F-Score:
P/B 15.72
ROA (%) 6.68
6 P/S 6.81
Z-Score: ROC (Joel Greenblatt) (%) 3150.23
1.02 PFCF 13.36
Revenue Growth (3Y)(%) 2.40
M-Score: POCF 10.29
-2.67 EBITDA Growth (3Y)(%) 2.70
EV-to-EBIT 19.58
WACC vs 3.65% EPS Growth (3Y)(%) 5.10
ROIC 10.88% PEG 4.79
WACC
ROIC Shiller P/E 22.97
Current Ratio 0.47
Quick Ratio 0.47
Days Sales Outstanding 52.78
Warning Signs Quarterly Revenues Company Description
Interest Coverage: Low Mar Jun Sep Dec Full Year Simon Property Group is the second- largest real estate investment trust in the United States. Its portfolio includes an
interest in 207 properties: 107 traditional malls, 68 premium outlets, 14 Mills centers (a combination of a traditional
2016 1,337 1,315 1,357 1,426 5,435 mall, outlet center, and big-box retailers), four lifestyle centers, and 14 other retail properties. Simon's portfolio
Dividend Payout Ratio: Too averaged $646 in sales per square foot over the past 12 months. The company also owns a 21% interest in Klepierre,
2017 1,346 1,362 1,404 1,416 5,527
high a European retail company with investments in shopping centers in 16 countries, and joint venture interests in 27
2018 1,394 1,385 1,404 1,462 5,645 premium outlets across 11 countries.... (Read More)
2019 1,453 1,397 1,417 1,489 5,755 Competitors: NYSE:O, HKSE:00823 , XAMS:URW, ASX:SCG, NAS:REG, NYSE:NNN, NYSE:FRT, XPAR:LI,
Good Signs 2020 NYSE:KIM, TSE:3462, LSE:BLND, TSX:REI.UN, SGX:C38U, NYSE:BRX, ASX:VCX, SGX:N2IU, TSE:8953,
NYSE:EPR, TSX:SRU.UN, NYSE:WRI
Revenue per Share: Quarterly Earnings per Share
Consistent growth Insider Trades
Mar Jun Sep Dec Full Year
Operating Margin %: 2016 1.55 1.45 1.61 1.26 5.87
Expansion 2017 1.53 1.23 1.65 1.84 6.25
2018 2.00 1.77 1.80 2.30 7.87
Dividend Yield %: Close to 2019 1.78 1.60 1.77 1.66 6.81
10-year high 2020
PE Ratio: Close to 10-year Quarterly Dividends Per Share
low
Mar Jun Sep Dec Full Year
PB Ratio: Close to 1-year low 2016 1.60 1.60 1.65 1.65 6.50
PS Ratio: Close to 5-year low 2017 1.75 1.75 1.80 1.85 7.15
2018 1.95 1.95 2.00 2.00 7.90
2019 2.05 2.05 2.10 2.10 8.30
DCF 2020
EPS without NRI: $6.81 Growth Rate
Growth Rate in the next 10
years: 17.20% Annual Rates(per share) 10-Y 5-Y 12-M
Terminal Growth Rate for 10 Revenue Growth (%) 3.50 3.20 2.50
years: 4% EBITDA Growth (%) 5.30 3.90 -7.20
Fair Value: $161.10
Free Cash Flow Growth (%) 7.70 10.30 -0.70
Book Value Growth (%) -5.90 -5.90 -23.10
Reverse DCF EPS Growth (%) 17.20 9.20 -13.50
Expected eps Growth Rate:
13.62%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SPG 1/6
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.38 14.34 15.01 16.31 16.75 14.06 13.58 14.67 14.04 14.65 15.68 16.98 17.38 17.74 18.23 18.69 18.69 Revenue per Share
12.38 9.31 9.80 10.54 11.16 8.88 9.61 11.42 13.03 12.32 12.64 13.94 13.91 14.24 16.23 15.06 15.06 EBITDA per Share
12.38 5.46 5.95 6.50 6.86 5.12 6.13 7.63 8.73 8.02 8.51 9.94 9.66 9.88 11.87 10.53 10.53 EBIT per Share
1.44 1.82 2.19 1.95 1.87 1.05 2.10 3.48 4.72 4.24 4.52 5.88 5.87 6.24 7.87 6.81 6.81 Earnings per Share (diluted)
1.48 1.27 2.19 2.08 1.87 1.05 2.10 3.48 4.29 3.73 4.44 5.88 5.87 6.24 7.87 6.81 6.81 eps without NRI
2.78 3.65 3.91 3.71 3.60 2.54 3.57 5.19 7.48 6.99 6.52 7.34 7.18 7.75 9.56 8.53 8.53 Owner Earnings per Share (TTM)
2.54 2.01 2.28 2.02 3.37 5.01 5.15 5.32 5.64 5.99 6.22 6.46 8.23 9.19 9.59 9.52 9.52 Free Cashflow per Share
2.60 2.80 3.04 3.36 3.60 2.70 2.60 3.30 4.10 4.65 5.15 6.05 6.50 7.15 7.90 8.30 8.30 Dividends per Share
20.85 14.33 13.98 12.63 11.10 15.44 16.11 15.47 18.93 18.69 16.25 14.31 13.63 11.73 10.53 8.10 8.10 Book Value per Share
20.85 14.33 13.98 12.63 11.10 15.44 16.11 14.47 17.29 17.48 15.24 13.42 12.72 11.06 10.04 7.78 7.78 Tangible Book per Share
65.50 62.65 69.52 77.20 78.00 65.20 58.84 61.96 74.58 72.99 67.10 72.45 73.39 79.29 75.42 80.43 80.43 Total Debt per Share
60.80 72.05 95.24 81.67 49.95 75.03 93.54 121 149 143 182 194 178 172 168 149 127 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
7.53 8.98 11.73 11.56 13.68 8.01 13.14 21.55 27.10 22.39 25.68 38.15 41.80 48.64 69.79 72.07 71.72 Return on Equity %
1.59 2.20 2.61 2.15 1.97 1.25 2.43 4.01 4.88 4.00 4.48 6.08 5.96 6.15 7.75 6.79 6.68 Return on Assets %
41.64 13.44 7.30 7.78 8.13 7.36 9.36 22.64 -- -- -- -- -- -- -- 1,260 3,150 Return on Capital %
15.54 6.04 7.09 8.10 7.63 8.08 8.56 8.46 7.61 7.51 8.69 9.95 9.88 10.13 10.70 10.73 10.88 Return on Invested Capital %
2.62 4.94 8.51 9.61 7.83 10.56 11.05 9.84 6.35 7.17 5.52 4.80 5.43 5.18 5.50 4.27 3.65 Weighted Average Cost Of Capital (WACC) %
-- -- -- 5.80 5.37 5.41 5.69 5.48 5.14 4.73 4.56 4.27 3.78 3.40 3.40 3.29 3.26 Effective Interest Rate on Debt %
-- -- -- 87.55 87.95 88.72 78.20 78.64 81.19 81.56 81.88 81.77 82.13 82.27 82.15 82.25 82.25 Gross Margin %
100.00 38.06 39.62 42.05 41.22 42.49 45.88 45.12 46.99 48.17 48.97 50.68 50.06 50.70 51.84 50.53 50.62 Operating Margin %
11.63 15.02 16.92 13.46 12.26 8.20 15.59 23.80 33.70 29.04 28.92 34.71 33.83 35.24 43.22 36.52 36.52 Net Margin %
20.55 14.02 15.18 12.35 20.13 35.61 37.87 36.23 40.19 40.93 39.70 38.05 47.36 51.77 52.59 50.94 50.94 FCF Margin %
3.14 3.28 3.87 4.83 6.91 4.18 3.62 3.97 3.91 3.88 4.09 5.01 5.33 6.68 7.07 9.77 9.77 Debt to Equity
0.21 0.20 0.18 0.15 0.11 0.17 0.19 0.18 0.18 0.18 0.17 0.15 0.14 0.11 0.11 0.08 0.08 Total Equity to Total Asset
0.66 0.67 0.70 0.73 0.77 0.72 0.70 0.70 0.71 0.68 0.71 0.73 0.74 0.76 0.76 0.79 0.79 Total Debt to Total Asset
13.69 14.66 15.42 13.99 14.15 13.57 12.18 13.26 11.75 11.25 12.69 14.33 14.48 14.35 14.73 15.29 15.04 Gross Profit to Total Asset %
0.14 0.15 0.15 0.16 0.16 0.15 0.16 0.17 0.15 0.14 0.16 0.18 0.18 0.17 0.18 0.19 0.18 Asset Turnover
1.76 2.21 1.39 1.62 1.93 2.57 1.24 0.95 0.96 1.25 1.16 1.03 1.11 1.15 1.00 1.22 1.22 Dividend Payout Ratio
-- -- -- 44.71 40.03 -- -- 41.25 44.71 41.80 43.48 43.29 44.63 49.04 49.38 52.78 52.78 Days Sales Outstanding
-- -- -- -- -- -- -- 433 627 533 521 503 456 473 477 497 497 Days Accounts Payable
-- -- -- 44.71 40.03 -- -- -392 -582 -491 -477 -460 -412 -424 -427 -444 -444 Cash Conversion Cycle
-- -- -- 0.12 0.12 0.11 0.22 0.21 0.19 0.18 0.18 0.18 0.18 0.18 0.18 0.18 0.18 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SPG 2/6
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,585 3,167 3,332 3,651 3,783 3,775 3,958 4,306 4,256 4,544 4,871 5,266 5,435 5,527 5,645 5,755 5,755 Revenue
-- -- -- 455 456 426 863 920 800 838 883 960 971 980 1,008 1,022 1,022 Cost of Goods Sold
2,585 3,167 3,332 3,196 3,327 3,350 3,095 3,387 3,456 3,706 3,988 4,306 4,464 4,547 4,637 4,734 4,734 Gross Profit
-- -- -- 87.55 87.95 88.72 78.20 78.64 81.19 81.56 81.88 81.77 82.13 82.27 82.15 82.25 82.25 Gross Margin %
85.84 17.70 105 371 371 319 118 153 167 178 197 195 208 203 198 185 185 Selling, General, & Admin. Expense
-85.84 1,944 1,907 1,290 1,397 1,426 1,161 1,290 1,289 1,340 1,406 1,442 1,535 1,542 1,513 1,641 1,635 Other Operating Expense
2,585 1,205 1,320 1,535 1,560 1,604 1,816 1,943 2,000 2,189 2,385 2,669 2,721 2,802 2,926 2,908 2,913 Operating Income
100.00 38.06 39.62 42.05 41.22 42.49 45.88 45.12 46.99 48.17 48.97 50.68 50.06 50.70 51.84 50.53 50.62 Operating Margin %
-- -- -- -946 -947 -992 -1,027 -984 -1,068 -1,082 -993 -924 -858 -809 -816 -789 -789 Interest Expense
-- -- -- -946 -947 -992 -1,027 -984 -1,068 -1,082 -993 -924 -858 -809 -816 -789 -789 Net Interest Income
-2,194 -836 -745 -81.23 -9.26 -230 -30.87 298 647 300 258 414 301 275 749 335 329 Other Income (Expense)
-9.69 -13.74 -11.52 -13.94 -136 -77.86 -136 -221 -285 -232 -243 -312 -296 -297 -382 -322 -322 Other Income (Minority Interest)
392 370 575 508 603 382 758 1,257 1,579 1,406 1,650 2,160 2,164 2,268 2,859 2,453 2,453 Pre-Tax Income
11.77 -16.23 -11.37 11.32 -3.58 5.22 -4.33 -11.60 -15.72 -39.54 -28.09 -20.17 -29.68 -23.34 -36.90 -30.05 -30.05 Tax Provision
-3.01 4.39 1.98 -2.23 0.59 -1.37 0.57 0.92 1.00 2.81 1.70 0.93 1.37 1.03 1.29 1.23 1.23 Tax Rate %
351 353 563 519 600 387 754 1,246 1,563 1,367 1,622 2,139 2,135 2,245 2,822 2,423 2,423 Net Income (Continuing Operations)
-0.55 122 0.33 -28.07 -0.03 -- -- -- 156 185 29.36 -- -- -- -- -- -- Net Income (Discontinued
Operations)
301 476 564 491 464 309 617 1,025 1,434 1,320 1,409 1,828 1,839 1,948 2,440 2,102 2,102 Net Income
11.63 15.02 16.92 13.46 12.26 8.20 15.59 23.80 33.70 29.04 28.92 34.71 33.83 35.24 43.22 36.52 36.52 Net Margin %
42.35 73.85 77.70 55.08 41.12 26.31 6.61 3.34 3.34 3.34 3.34 3.34 3.34 3.34 3.34 3.34 3.34 Preferred dividends
1.45 1.82 2.20 1.96 1.88 1.06 2.10 3.48 4.72 4.24 4.52 5.88 5.87 6.24 7.87 6.81 6.81 EPS (Basic)
1.44 1.82 2.19 1.95 1.87 1.05 2.10 3.48 4.72 4.24 4.52 5.88 5.87 6.24 7.87 6.81 6.81 EPS (Diluted)
209 221 222 224 226 268 291 294 303 310 311 310 313 312 310 308 307 Shares Outstanding (Diluted
Average)
611 818 813 875 957 1,009 1,016 1,112 1,301 1,333 1,286 1,239 1,328 1,357 1,350 1,394 1,394 Depreciation, Depletion and
Amortization
2,585 2,055 2,176 2,359 2,520 2,384 2,801 3,353 3,948 3,821 3,929 4,322 4,350 4,435 5,025 4,637 4,637 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SPG 3/6
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
520 337 929 502 774 3,958 797 799 1,185 1,691 612 701 560 1,482 514 669 669 Cash And Cash Equivalents
520 337 929 502 774 3,958 797 799 1,185 1,691 612 701 560 1,482 514 669 669 Cash, Cash Equivalents, Marketable
Securities
-- -- -- 447 415 -- -- 487 521 520 580 625 665 743 764 832 832 Accounts Receivable
-- -- -- -0.00 -- -- -- 344 460 481 372 386 451 584 516 493 493 Other Current Assets
520 694 1,309 1,497 1,709 4,360 1,223 2,280 2,165 2,693 1,565 1,711 1,676 2,809 1,795 1,994 1,994 Total Current Assets
-- 1,563 1,526 1,887 1,664 1,469 1,390 2,063 4,396 4,713 4,975 4,790 4,532 4,532 4,284 4,519 4,519 Investments And Advances
-- -- -- 2,798 2,795 2,758 2,929 -- -- -- -- -- -- -- -- -- -- Land And Improvements
-- -- -- 21,365 22,113 22,266 24,263 -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
-- -- -- 252 298 312 317 -- -- -- -- -- -- -- -- -- -- Machinery, Furniture, Equipment
-- 21,745 22,864 24,415 25,206 25,336 27,509 -- -- -- -- -- -- -- -- 515 515 Gross Property, Plant and Equipment
-- -3,809 -4,606 -5,312 -6,184 -7,005 -7,711 -- -- -- -- -- -- -- -- -- -- Accumulated Depreciation
-- 17,936 18,258 19,103 19,021 18,332 19,797 -- -- -- -- -- -- -- -- 515 515 Property, Plant and Equipment
-- -- -- -- -- -- -- 296 507 376 312 276 285 209 151 95.85 95.85 Intangible Assets
-- -- -- -- -- -- -- 20.10 20.10 20.10 20.10 20.10 20.10 20.10 20.10 20.10
20.10 Goodwill
21,550 938 991 1,119 1,028 1,788 2,446 21,577 25,518 25,543 22,680 23,788 24,611 24,708 24,457 24,108 24,108 Other Long Term Assets
22,070 21,131 22,084 23,606 23,423 25,948 24,857 26,217 32,587 33,325 29,532 30,565 31,104 32,258 30,686 31,232 31,232 Total Assets
-- -- -- -- -- -- -- 1,092 1,374 1,223 1,260 1,324 1,214 1,269 1,317 1,391 1,391 Accounts Payable
-- -- -- 1,432 1,241 1,147 1,179 1,787 2,099 2,273 2,427 2,692 2,574 2,676 2,853 2,957 2,957 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- 409 879 954 978 759 1,327 1,327 Current Portion of Long-Term Debt
-- -- -- 353 381 -- -- -- -- -- -- -- -- -0.00 -0.00 -- -- Other Current Liabilities
-- -- -- 1,784 1,622 1,147 1,179 1,787 2,099 2,273 2,836 3,571 3,527 3,654 3,612 4,284 4,284 Total Current Liabilities
14,586 14,106 15,394 17,219 18,043 18,630 17,474 18,446 23,113 22,670 20,444 21,538 22,023 23,586 22,480 22,769 22,769 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- 68.42 67.26 584 584 Capital Lease Obligation
14,586 14,106 15,394 17,219 18,043 18,630 17,474 18,446 23,113 22,670 20,444 21,538 22,023 23,654 22,547 23,353 23,353 Long-Term Debt & Capital Lease
Obligation
3.14 3.28 3.87 4.83 6.91 4.18 3.62 3.97 3.91 3.88 4.09 5.01 5.33 6.68 7.07 9.77 9.77 Debt to Equity
1,378 -- -- -- 489 725 803 895 982 973 858 745 649 553 500 385 385 Minority Interest
1,463 2,718 2,710 1,039 656 988 571 439 482 1,559 301 240 593 711 683 Other Long-Term Liabilities
731 683
16,049 16,824 18,105 20,042 20,321 20,765 19,224 20,673 25,694 26,502 23,581 25,349 26,144 28,019 26,889 28,320 28,320 Total Liabilities
0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 Common Stock
-- 1,080 885 747 46.03 45.70 45.38 45.05 44.72 44.39 44.06 43.73 43.41 43.08 42.75 42.42 42.42 Preferred Stock
-1,335 -1,551 -1,741 -2,055 -2,492 -2,956 -3,115 -3,252 -3,083 -3,219 -4,208 -4,267 -4,459 -4,782 -4,893 -5,380 -5,380 Retained Earnings
-- 9.79 19.24 18.09 -165 -3.09 6.53 -94.26 -90.90 -75.80 -61.04 -253 -114 -110 -126 -119 -119 Accumulated other comprehensive
income (loss)
4,994 4,999 5,010 5,068 5,410 7,548 8,060 8,103 9,176 9,217 9,422 9,384 9,523 9,615 9,700 9,756 9,756 Additional Paid-In Capital
-72.92 -230 -194 -214 -186 -177 -166 -153 -136 -118 -104 -437 -683 -1,079 -1,427 -1,774 -1,774 Treasury Stock
4,643 4,307 3,980 3,563 2,613 4,458 4,831 4,650 5,911 5,849 5,093 4,471 4,310 3,686 3,297 2,526 2,526 Total Equity
0.21 0.20 0.18 0.15 0.11 0.17 0.19 0.18 0.18 0.18 0.17 0.15 0.14 0.11 0.11 0.08 0.08 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SPG 4/6
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
343 476 564 491 600 387 754 1,246 1,720 1,552 1,652 2,139 2,135 2,245 2,822 2,423 2,423 Net Income
343 476 564 491 600 387 754 1,246 1,720 1,552 1,652 2,139 2,135 2,245 2,822 2,423 2,423 Net Income From Continuing
Operations
611 818 813 875 957 1,009 1,016 1,112 1,301 1,333 1,286 1,239 1,328 1,357 1,350 1,394 1,394 Depreciation, Depletion and
Amortization
-37.17 -15.61 -3.80 -40.98 -14.31 37.47 2.14 -19.37 -4.82 -13.94 -6.73 9.92 16.28 -26.17 -17.52 -0.16 -0.16 Change In Receivables
90.24 -91.33 69.21 114 41.21 3.79 -22.55 -58.96 166 42.39 -29.58 35.54 -77.79 99.93 84.31 13.10 13.10 Change In Payables And Accrued
Expense
6.06 -107 -67.16 2.64 5.61 13.17 -60.79 -137 27.10 -1.56 -102 -77.22 -105 -59.18 -8.65 -36.40 -36.40 Change In Working Capital
120 -16.90 -36.04 99.24 52.75 70.55 38.29 -215 -535 -182 -105 -277 15.35 50.72 -413 26.87 26.87 Cash Flow from Others
1,081 1,170 1,273 1,468 1,636 1,721 1,755 2,006 2,513 2,701 2,730 3,025 3,373 3,594 3,751 3,808 3,808 Cash Flow from Operations
-549 -726 -768 -1,017 -874 -376 -256 -445 -802 -841 -797 -1,021 -798 -732 -782 -876 -876 Purchase Of Property, Plant,
Equipment
601 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-2,359 -37.51 -158 -950 -138 -- -1,170 -1,280 -3,937 -1,010 -325 -1,741 -812 -422 -114 -76.59 -76.59 Purchase Of Business
53.70 37.51 158 416 309 235 -- 532 -- -- -- -- -- -- -- -- -- Sale Of Business
-84.88 -76.71 -157 -2,765 -364 -360 -449 -42.02 -185 -44.12 -391 -59.52 -38.81 -25.00 -21.56 -374 -374 Purchase Of Investment
-- -- -- 2,204 44.30 82.82 26.18 6.87 416 47.50 -- 504 42.60 56.27 25.00 -- -- Sale Of Investment
-407 751 323 62.49 0.00 -0.00 603 235 928 899 616 855 638 361 656 250 250 Cash From Other Investing Activities
-2,746 -52.43 -602 -2,050 -1,022 -419 -1,247 -994 -3,581 -948 -897 -1,463 -969 -761 -237 -1,077 -1,077 Cash Flow from Investing
3.43 11.32 217 157 11.11 1,642 4.17 5.31 1,214 0.10 0.28 -- -- -- -- -- -- Issuance of Stock
-99.88 -194 -410 -83.99 -16.01 -- -- -- -248 -- -14.44 -509 -260 -410 -439 -370 -370 Repurchase of Stock
-59.68 -0.58 -394 -300 -1.85 -87.69 -10.99 -- -- -- -- -- -- -- -- -- -- Net Issuance of Preferred Stock
2,489 -235 1,065 1,399 765 542 -2,369 257 2,212 473 -693 1,357 216 1,211 -1,145 885 885 Net Issuance of Debt
-746 -195 -205 -1,021 -1,104 -160 -919 -1,244 -1,485 -1,691 -1,877 -2,196 -2,356 -2,572 -2,822 -2,949 -2,949 Cash Flow for Dividends
60.15 -688 -354 2.90 4.01 -53.57 -374 -27.58 -239 -3.28 -354 -124 -145 -140 -76.80 -141 -141 Other Financing
1,647 -1,301 -79.20 154 -342 1,883 -3,670 -1,010 1,453 -1,221 -2,938 -1,473 -2,545 -1,910 -4,482 -2,576 -2,576 Cash Flow from Financing
-17.87 -183 592 -427 272 3,184 -3,161 1.93 386 532 -1,105 88.85 -141 922 -968 155 155 Net Change in Cash
-549 -726 -768 -1,017 -874 -376 -256 -445 -802 -841 -797 -1,021 -798 -732 -782 -876 -876 Capital Expenditure
531 444 506 451 762 1,344 1,499 1,560 1,711 1,860 1,934 2,004 2,574 2,862 2,969 2,932 2,932 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SPG 5/6
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
42.22 39.59 43.49 41.88 26.71 70.12 44.76 34.84 31.36 33.78 40.29 33.07 30.27 27.48 21.35 21.87 18.68 PE Ratio(TTM)
21.84 19.73 24.35 22.00 13.89 29.49 26.18 23.35 19.86 20.47 27.92 26.49 24.73 22.17 17.58 17.45 14.91 Price to Owner Earnings
(TTM)
2.92 5.03 6.81 6.47 4.50 4.86 5.80 7.84 7.85 7.66 11.21 13.59 13.04 14.64 15.95 18.40 15.72 Price to Book
2.92 5.03 6.81 6.47 4.50 4.86 5.80 8.38 8.60 8.19 11.95 14.49 13.97 15.54 16.73 19.14 16.35 Price to Tangible Book
24.30 35.56 41.94 40.53 14.85 14.95 18.18 22.80 26.34 23.87 29.26 30.09 21.59 18.70 17.52 15.65 13.36 Price-to-Free-Cash-Flow
Ratio
11.87 13.60 16.62 12.45 6.90 11.61 15.53 17.74 17.94 16.43 20.73 19.93 16.48 14.88 13.87 12.05 10.29 Price-to-Operating-Cash-
Flow Ratio
4.90 5.02 6.35 5.01 2.98 5.31 6.89 8.26 10.56 9.45 11.62 11.45 10.22 9.68 9.21 7.97 6.81 PS Ratio
-- -- 27.88 -- -- -- -- -- 7.65 5.58 4.37 6.34 12.77 8.35 5.05 5.23 4.79 PEG Ratio
11.17 9.81 10.94 9.77 7.76 9.77 11.45 12.70 16.22 14.14 15.96 15.70 14.49 13.95 13.33 12.19 11.03 EV-to-Revenue
9.57 15.12 16.74 15.04 11.64 15.47 16.33 16.37 17.48 17.07 19.79 19.13 18.10 17.38 14.97 15.13 13.69 EV-to-EBITDA
11.20 25.78 27.60 24.34 18.94 26.84 25.76 24.55 26.07 25.97 29.42 26.81 26.05 25.05 20.47 21.63 19.58 EV-to-EBIT
8.93 3.88 3.62 4.11 5.28 3.73 3.88 4.07 3.84 3.85 3.40 3.73 3.84 3.99 4.89 4.62 5.11 Return on Capital %
-2.52 -2.98 4.62 -2.64 -2.20 -0.84 2.17 2.28 7.34 10.16 12.46 8.26 5.99 7.46 8.93 9.87 10.84 Forward Rate of Return
54.85 60.45 72.54 55.03 31.84 45.83 50.08 56.25 61.52 53.46 61.82 58.23 47.64 40.57 34.38 26.90 22.97 Shiller PE Ratio
4.28 3.89 3.19 4.11 7.21 3.60 2.78 2.72 2.76 3.25 2.83 3.11 3.66 4.16 4.70 5.57 6.58 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Market Cap
13,541 16,223 21,089 18,215 11,554 21,440 27,778 36,094 46,064 44,439 56,598 60,164 55,624 53,354 51,912 45,711 39,040
28,985 31,072 36,439 35,678 29,358 36,883 45,303 54,682 69,020 66,435 77,741 82,668 78,734 77,100 75,246 70,149 63,478 Enterprise Value
60.80 72.05 95.24 81.67 49.95 75.03 93.54 121 149 143 182 194 178 172 168 149 127 Month End Stock Price
-75.92 -73.22 -77.57 -87.61 -86.62 -61.36 -64.75 -69.76 -82.26 -83.01 -76.67 -82.06 -83.79 -87.20 -86.97 -91.36 -91.36 Net Cash (per share)
-75.92 -76.43 -79.84 -86.50 -82.77 -60.11 -63.47 -64.93 -79.24 -79.93 -73.74 -78.94 -80.37 -83.06 -82.97 -87.18 -87.18 Net Current Asset Value
(per share)
-75.92 -78.02 -81.56 -89.46 -85.47 -61.52 -64.91 -68.68 -81.14 -81.90 -75.41 -80.69 -82.34 -85.54 -85.25 -89.47 -89.47 Net-Net Working Capital (per
share)
46.72 53.85 39.77 40.41 35.98 34.97 40.27 45.72 52.85 59.72 65.82 70.40 71.94 78.33 84.97 86.66 86.66 Projected FCF (per share)
32.78 40.16 47.77 58.23 67.11 59.31 63.59 75.52 75.81 86.51 99.52 124 153 166 176 181 181 Median PS (per share)
33.06 6.65 32.89 43.18 15.90 12.09 -- -- -- 25.62 41.65 30.69 36.51 49.61 -- -- -- Peter Lynch Fair Value (per
share)
26.35 20.24 26.24 24.31 21.61 19.10 27.59 33.66 40.85 38.30 39.02 42.13 40.99 39.40 42.17 34.53 34.53 Graham Number (per share)
14.09 15.27 11.03 -9.52 -22.67 -16.89 -15.47 -12.08 -21.36 -15.16 -10.58 -14.59 -14.29 -12.26 -5.63 -6.27 -6.27 Earnings Power Value
(EPV)
0.63 0.72 0.81 0.72 0.58 0.88 1.09 1.34 1.34 1.28 1.65 1.66 1.50 1.39 1.44 1.17 1.02 Altman Z-Score
4.00 5.00 5.00 4.00 4.00 7.00 4.00 8.00 5.00 5.00 7.00 6.00 5.00 7.00 6.00 6.00 6.00 Piotroski F-Score
-1.44 -0.07 -1.54 -2.84 -2.85 -3.54 -2.36 -0.80 -2.69 -2.70 -2.65 -2.66 -2.71 -2.67 -2.75 -2.67 -2.67 Beneish M-Score
1.28 0.82 0.87 0.92 0.86 0.85 0.86 0.93 1.10 0.85 0.79 0.91 0.90 0.88 0.82 0.88 0.80 Scaled Net Operating
Assets
8.91 -3.04 -0.49 4.54 -0.64 -3.82 0.44 0.05 7.68 -1.30 -1.44 0.87 -1.82 -2.74 -3.50 -2.02 -2.02 Sloan Ratio (%)
-- -- -- 0.84 1.05 3.80 1.04 1.28 1.03 1.18 0.55 0.48 0.48 0.77 0.50 0.47 0.47 Current Ratio
-- -- -- 0.84 1.05 3.80 1.04 1.28 1.03 1.18 0.55 0.48 0.48 0.77 0.50 0.47 0.47 Quick Ratio
61.44 75.72 97.40 116 98.64 78.08 99.90 123 154 170 187 206 228 187 191 186 186 Highest Stock Price
42.41 55.50 72.05 79.83 35.73 24.62 65.30 89.65 119 134 142 171 174 152 147 144 120 Lowest Stock Price
-9.13 -1.10 1.66 -0.72 -3.71 -23.54 -3.92 -0.26 -4.09 -0.23 -0.06 0.44 -1.18 0.77 0.53 0.70 0.70 Shares Buyback Ratio (%)
4.94 15.82 4.67 8.68 2.66 -16.04 -3.40 7.99 -4.29 4.32 7.03 8.34 2.36 2.08 2.76 2.50 2.51 YoY Rev. per Sh. Growth
(%)
-12.73 26.39 20.33 -10.96 -4.10 -43.85 100.00 65.71 35.63 -10.17 6.60 30.09 -0.17 6.30 26.12 -13.47 -13.47 YoY EPS Growth (%)
-14.30 -24.83 5.33 7.55 5.79 -20.41 8.29 18.82 14.02 -5.44 2.65 10.25 -0.20 2.34 13.99 -7.22 -7.23 YoY EBITDA Growth (%)
-8.20 -7.96 1.56 -5.78 -7.40 -4.87 -1.58 -1.10 4.10 6.42 9.38 5.22 2.37 3.29 4.23 4.18 3.90 EBITDA 5-Y Growth (%)
207 221 221 223 225 267 291 294 303 310 311 310 313 312 310 308 307 Shares Outstanding (Basic
Average)
223 225 221 223 231 286 297 298 310 311 311 309 313 311 309 307 307 Shares Outstanding (EOP)
0.08 0.76 1.60 1.64 1.51 1.82 1.57 1.49 0.85 0.90 0.63 0.46 0.61 0.59 0.63 0.48 0.46 Beta
03/16/05 03/08/06 02/28/07 02/26/08 02/26/09 02/25/10 02/25/11 02/28/12 02/28/13 02/27/14 02/27/15 02/26/16 02/24/17 02/23/18 02/22/19 02/21/20 Filing Date
02/26/08 02/28/07 02/26/08 02/26/09 02/25/10 02/28/12 02/28/13 02/27/14 02/27/15 02/26/16 02/24/17 02/23/18 02/22/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SPG 6/6
Advance Auto Parts Inc (NYSE:AAP) 03/02/2020 4:10PM EST GuruFocus
Price: $ 132.99 +0.01(+0.01%) Market Cap: $ 9.21 B Enterprise Value: $11.55 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 19.44
Cash to Debt 0.15 Operating margin (%) g.97
Forward P/E N/A
Equity to Asset 0.32 Net-margin (%) 5.01
PE(NRI) 19.44
Interest Coverage 1g.97 ROE (%) 13.70
F-Score:
P/B 2.g1
ROA (%) 4.53
5 P/S 0.98
Z-Score: ROC (Joel Greenblatt) (%) 1g.g7
2.38 PFCF 24.35
Revenue Growth (3Y)(%) 1.70
M-Score: POCF 10.93
-2.51 EBITDA Growth (3Y)(%) -3.50
EV-to-EBIT 17.05
WACC vs 5.93% EPS Growth (3Y)(%) 3.30
ROIC 9.51% Shiller P/E 21.08
WACC
ROIC Current Ratio 1.27
Quick Ratio 0.28
Days Inventory 294.38
Days Sales Outstanding 15.88
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Advance Auto Parts is one of the industry's largest retailers of aftermarket automotive parts, tools, and accessories to
do-it-yourself customers in North America. Advance operated 5,109 stores as of the end of 2018, in addition to
Good Signs 2016 2,980 2,25g 2,249 2,083 9,5g8 servicing 1,231 independently owned Carquest stores. The company's Worldpac unit is a premier distributor of
2017 2,891 2,2g4 2,182 2,037 9,374 imported original-equipment parts. Advance derived 58% of its 2018 sales from commercial clients, up from 30%-40%
Dividend Yield %: Close to 1- 2018 2,874 2,327 2,275 2,105 9,581
before the General Parts deal.... (Read More)
year high Competitors: ADX:ADNOCDIST, LSE:JD., NAS:TSCO, BSP:BRDT3 , XAMS:GVNV, TSX:CTC, SZSE:002024 ,
2019 2,952 2,332 2,312 2,113 9,709 XTER:FIE, NAS:FIVE, NYSE:WSM, NYSE:GPC, ASX:COL, SAU:4190, HKSE:01528, BSP:VVAR3, TSE:9831,
PE Ratio: Close to 1-year low 2020 NYSE:RH, XSWX:DUFN, NYSE:DKS, LSE:SMWH
PB Ratio: Close to 1-year low Quarterly Earnings per Share Insider Trades
PS Ratio: Close to 1-year low Mar Jun Sep Dec Full Year
2016 2.14 1.g8 1.53 0.84 g.19
2017 1.4g 1.17 1.30 2.49 g.42
DCF 2018 1.84 1.59 1.5g 0.74 5.73
GuruFocus does not 2019 1.98 1.73 1.75 1.38 g.84
calculate intrinsic value: DCF 2020
(Earnings Based) for Quarterly Dividends Per Share
companies with one star
predictability or not rated. But Mar Jun Sep Dec Full Year
you can go to each stock's 2016 0.0g 0.0g 0.0g 0.0g 0.24
DCF page to calculate 2017 0.0g 0.0g 0.0g 0.0g 0.24
yourself. 2018 0.0g 0.0g 0.0g 0.0g 0.24
2019 0.0g 0.0g 0.0g 0.0g 0.24
2020
Reverse DCF
Growth Rate
GuruFocus does not
calculate reverse DCF growth Annual Rates(per share) 10-Y 5-Y 12-M
rate for companies with one Revenue Growth (%) 9.10 0.00 5.40
star predictability or not rated.
EBITDA Growth (%) 5.10 -5.40 12.00
But you can go to each
stock's DCF page to calculate Free Cash Flow Growth (%) 0.50 1.30 -33.40
yourself. Book Value Growth (%) 18.00 13.00 1.80
EPS Growth (%) g.70 -0.g0 19.40
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AAP 1/7
Per Share Data
Dec04 Dec05 Dec0g Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec1g Dec17 Dec18 Dec19 TTM Fiscal Period
33.30 38.78 43.10 4g.29 54.01 5g.91 g7.99 80.0g 83.78 88.4g 134 132 130 12g 129 13g 13g Revenue per Share
3.84 4.81 5.07 5.39 5.89 g.37 8.59 10.90 11.44 11.8g 15.52 14.75 14.31 11.18 11.49 12.87 12.12 EBITDA per Share
2.90 3.71 3.77 3.98 4.35 4.78 g.70 8.g2 8.88 9.03 11.g4 11.10 10.82 7.81 8.27 9.52 9.51 EBIT per Share
1.gg 2.13 2.1g 2.28 2.49 2.83 3.95 5.11 5.22 5.32 g.71 g.40 g.20 g.42 5.73 g.84 g.84 Earnings per Share (diluted)
1.gg 2.13 2.1g 2.28 2.49 2.83 3.95 5.11 5.22 5.32 g.71 g.40 g.20 g.42 5.73 g.84 g.84 eps without NRI
-- 1.30 1.38 1.98 2.35 4.30 5.12 8.12 g.24 4.27 g.05 5.58 3.53 4.37 7.42 7.75 7.75 Owner Earnings per Share (TTM)
0.71 0.9g 0.70 1.91 3.09 5.33 5.35 7.28 5.59 4.7g g.55 g.35 3.57 5.55 8.34 5.55 5.4g Free Cashflow per Share
-- -- 0.24 0.24 0.24 0.24 0.24 0.24 0.24 0.24 0.24 0.24 0.24 0.24 0.24 0.24 0.24 Dividends per Share
g.g7 8.50 9.79 10.83 11.35 13.70 12.g8 11.g5 1g.50 20.82 27.41 33.5g 39.54 4g.19 49.00 49.87 50.90 Book Value per Share
g.g4 7.88 9.20 10.19 10.70 13.05 11.95 10.17 15.0g 17.39 3.55 10.g9 17.42 24.gg 27.74 25.9g 2g.49 Tangible Book per Share
4.53 4.52 4.8g 7.29 5.04 2.18 3.g8 5.71 8.25 14.4g 22.40 1g.4g 14.14 14.13 14.43 38.85 39.g5 Total Debt per Share
29.17 43.4g 35.5g 37.99 33.g5 40.48 gg.15 g9.g3 72.35 111 159 151 1g9 99.g9 157 1g0 133 Month End Stock Price
Ratios
Dec04 Dec05 Dec0g Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec1g Dec17 Dec18 Dec19 TTM Fiscal Period
27.78 28.59 23.72 23.20 22.g8 22.94 29.g8 41.71 37.58 28.g7 27.98 21.21 17.10 15.02 12.17 13.72 13.70 Return on Equity %
8.98 9.90 8.85 8.g8 8.25 8.9g 10.77 11.2g 9.38 7.70 7.30 5.88 5.59 5.gg 4.84 4.80 4.53 Return on Assets %
28.28 32.09 28.17 2g.10 2g.95 33.31 45.48 54.00 52.32 51.48 49.13 3g.g5 32.98 22.48 24.38 20.01 1g.g7 Return on Capital %
17.9g 20.05 17.40 1g.0g 1g.15 19.g2 27.23 33.30 33.g9 30.88 21.5g 14.g0 13.24 13.47 12.12 10.78 9.51 Return on Invested Capital %
g.g2 14.14 14.48 10.43 7.35 g.99 g.24 2.85 4.73 8.5g 11.12 g.73 7.41 g.05 10.30 g.79 5.93 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.79 g.85 10.g2 8.g2 g.g3 4.42 5.4g 4.g0 5.33 5.g3 5.41 2.09 1.59 Effective Interest Rate on Debt %
4g.50 47.23 47.g8 47.91 4g.gg 48.85 49.98 49.74 49.93 50.08 45.24 45.42 44.48 43.58 44.04 43.82 43.82 Gross Margin %
8.72 9.58 8.74 8.g0 8.07 8.39 9.87 10.77 10.59 10.17 8.g5 8.48 8.23 g.08 g.31 g.97 g.97 Operating Margin %
4.99 5.50 5.01 4.92 4.g3 5.00 5.84 g.40 g.25 g.03 5.02 4.8g 4.80 5.07 4.42 5.01 5.01 Net Margin %
2.14 2.47 1.g2 4.13 5.71 9.3g 7.87 9.09 g.g7 5.38 4.88 4.81 2.7g 4.39 g.44 4.07 4.07 FCF Margin %
0.g8 0.53 0.50 0.g7 0.44 0.1g 0.29 0.49 0.50 0.70 0.82 0.49 0.3g 0.31 0.30 0.78 0.78 Debt to Equity
0.33 0.3g 0.38 0.37 0.3g 0.42 0.31 0.23 0.2g 0.27 0.25 0.30 0.35 0.40 0.39 0.32 0.32 Total Equity to Total Asset
0.22 0.19 0.19 0.25 0.1g 0.07 0.09 0.11 0.13 0.19 0.21 0.15 0.13 0.12 0.12 0.25 0.25 Total Debt to Total Asset
83.79 84.93 84.2g 84.58 83.1g 87.g0 92.15 87.57 74.93 g3.90 g5.85 54.98 51.77 48.g4 48.1g 41.94 39.58 Gross Profit to Total Asset %
1.80 1.80 1.77 1.77 1.78 1.79 1.84 1.7g 1.50 1.28 1.4g 1.21 1.1g 1.12 1.09 0.9g 0.90 Asset Turnover
-- -- 0.11 0.11 0.10 0.09 0.0g 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 Dividend Payout Ratio
9.87 8.10 7.g7 g.40 -- -- -- 1.13 g.48 8.19 13.38 14.24 15.54 15.18 15.1g 15.88 15.88 Days Sales Outstanding
117 121 98.47 99.gg 123 132 1g3 195 238 24g 210 220 212 200 21g 229 229 Days Accounts Payable
209 208 214 21g 210 215 215 230 25g 274 220 279 292 293 290 294 294 Days Inventory
103 94.98 123 123 8g.30 82.95 52.23 3g.47 23.g4 3g.5g 23.g3 72.75 95.53 109 89.5g 81.15 81.2g Cash Conversion Cycle
1.74 1.75 1.71 1.g9 1.74 1.70 1.70 1.59 1.43 1.33 1.gg 1.31 1.25 1.25 1.2g 1.24 1.24 Inventory Turnover
0.53 0.53 0.52 0.52 0.53 0.51 0.50 0.50 0.50 0.50 0.55 0.55 0.5g 0.5g 0.5g 0.5g 0.5g COGS to Revenue
0.31 0.30 0.31 0.31 0.31 0.30 0.30 0.32 0.35 0.38 0.33 0.42 0.44 0.45 0.45 0.45 0.45 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AAP 2/7
Income Statement
Dec04 Dec05 Dec0g Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec1g Dec17 Dec18 Dec19 TTM Fiscal Period
3,770 4,265 4,617 4,844 5,142 5,413 5,925 6,170 6,205 6,494 9,844 9,737 9,568 9,374 9,581 9,709 9,709 Revenue
2,017 2,250 2,415 2,523 2,743 2,7g8 2,9g4 3,101 3,107 3,242 5,390 5,314 5,312 5,289 5,3g1 5,454 5,454 Cost of Goods Sold
1,753 2,014 2,201 2,321 2,399 2,644 2,961 3,069 3,098 3,252 4,454 4,423 4,256 4,085 4,219 4,255 4,255 Gross Profit
4g.50 47.23 47.g8 47.91 4g.gg 48.85 49.98 49.74 49.93 50.08 45.24 45.42 44.48 43.58 44.04 43.82 43.82 Gross Margin %
1,425 1,g0g 1,798 1,905 1,984 2,190 2,37g 2,405 2,441 2,592 3,g02 3,597 3,4g8 3,515 3,g15 3,578 3,578 Selling, General, & Admin. Expense
0.00 -0.00 0.00 0.00 -0.00 0.00 -- -0.00 -- 0.00 0.00 -0.00 -- -- -0.00 0.00 0.00 Other Operating Expense
329 408 403 416 415 454 585 665 657 660 852 826 788 570 604 677 677 Operating Income
8.72 9.58 8.74 8.g0 8.07 8.39 9.87 10.77 10.59 10.17 8.g5 8.48 8.23 g.08 g.31 g.97 g.97 Operating Margin %
-- -- -- -- -33.73 -23.34 -2g.8g -30.95 -33.84 -3g.g2 -73.41 -g5.41 -59.91 -58.80 -5g.59 -39.90 -39.90 Interest Expense
-- -- -- -- -33.73 -23.34 -2g.8g -30.95 -33.84 -3g.g2 -73.41 -g5.41 -59.91 -58.80 -5g.59 -39.90 -39.90 Net Interest Income
-23.01 -29.57 -33.44 -33.80 -0.51 0.g1 -1.02 -0.4g 0.g0 2.70 3.09 -7.48 11.15 8.85 7.58 0.4g 0.47 Other Income (Expense)
306 379 370 383 381 432 557 633 624 626 781 753 739 520 555 638 638 Pre-Tax Income
-118 -144 -139 -144 -143 -1g1 -211 -239 -23g -235 -288 -279 -279 -44.75 -131 -151 -151 Tax Provision
38.50 38.05 37.47 37.72 37.47 37.3g 37.88 37.g7 37.88 37.4g 3g.80 37.12 37.79 8.g0 23.g7 23.g5 23.g5 Tax Rate %
188 235 231 238 238 270 34g 395 388 392 494 473 4g0 47g 424 487 487 Net Income (Continuing Operations)
-0.04 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
188 235 231 238 238 270 346 395 388 392 494 473 460 476 424 487 487 Net Income
4.99 5.50 5.01 4.92 4.g3 5.00 5.84 g.40 g.25 g.03 5.02 4.8g 4.80 5.07 4.42 5.01 5.01 Net Margin %
1.70 2.17 2.18 2.30 2.51 2.85 4.00 5.21 5.29 5.3g g.75 g.45 g.22 g.44 5.75 g.87 g.88 EPS (Basic)
1.gg 2.13 2.1g 2.28 2.49 2.83 3.95 5.11 5.22 5.32 g.71 g.40 g.20 g.42 5.73 g.84 g.84 EPS (Diluted)
113 110 107 105 95.21 95.11 87.1g 77.07 74.0g 73.41 73.41 73.73 73.8g 74.11 73.99 71.17 g9.73 Shares Outstanding (Diluted
Average)
10g 121 140 148 147 151 1g4 17g 190 208 285 2g9 258 249 238 238 238 Depreciation, Depletion and
Amortization
435 529 543 564 561 606 748 840 847 871 1,139 1,088 1,057 828 850 916 863 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AAP 3/7
Balance Sheet
Dec04 Dec05 Dec0g Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec1g Dec17 Dec18 Dec19 TTM Fiscal Period
5g.32 40.78 11.13 14.g5 37.3g 100 59.21 57.90 598 1,112 105 90.78 135 547 897 419 419 Cash And Cash Equivalents
5g.32 40.78 11.13 14.g5 37.3g 100 59.21 57.90 598 1,112 105 90.78 135 547 897 419 419 Cash, Cash Equivalents, Marketable
Securities
102 94.g9 97.05 84.98 -- -- -- 19.08 110 14g 3g1 380 407 390 398 422 422 Accounts Receivable
73.32 72.79 82.77 93.77 -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Inventories
Adjustments
1,128 1,294 1,381 1,43g 1,g23 1,g32 1,8g4 2,043 2,309 2,557 3,937 4,175 4,32g 4,1g8 4,3g3 4,432 4,432 Inventories, Other
1,201 1,3g7 1,4g3 1,529 1,g23 1,g32 1,8g4 2,043 2,309 2,557 3,937 4,175 4,32g 4,1g8 4,3g3 4,432 4,432 Total Inventories
17.g9 45.37 40.4g 53.72 49.98 g3.17 7g.97 52.75 47.g1 42.7g 120 77.41 70.47 105 198 155 155 Other Current Assets
1,377 1,548 1,612 1,683 1,808 1,888 2,124 2,294 3,184 3,989 4,741 4,941 5,173 5,427 6,082 5,696 5,696 Total Current Assets
188 212 238 275 290 314 331 3g0 403 418 439 441 444 451 454 458 458 Land And Improvements
374 455 527 5g7 581 g09 g49 g83 741 783 854 887 924 9g9 993 1,034 1,034 Buildings And Improvements
gg5 780 8g8 895 898 973 952 1,035 1,172 1,2g3 1,440 1,490 1,g18 1,g92 1,75g 1,8g5 1,8g5 Machinery, Furniture, Equipment
29.94 11.04 28.15 g0.4g 90.20 82.84 104 129 7g.77 75.99 71.g9 107 121 g5.28 84.89 114 114 Construction In Progress
1,2g1 1,4g3 1,ggg 1,801 1,889 2,014 2,071 2,207 2,394 2,539 2,804 2,924 3,107 3,178 3,287 5,83g 5,83g Gross Property, Plant and Equipment
-475 -5g5 -g71 -753 -817 -914 -928 -984 -1,102 -1,255 -1,372 -1,490 -1,gg1 -1,783 -1,919 -2,038 -2,038 Accumulated Depreciation
78g 899 995 1,048 1,071 1,100 1,143 1,223 1,292 1,284 1,432 1,435 1,44g 1,394 1,3g9 3,799 3,799 Property, Plant and Equipment
2.72 g7.09 g1.g4 g0.5g g2.17 g0.81 59.75 108 105 250 1,744 1,g77 1,g32 1,592 1,541 1,702 1,702 Intangible Assets
-- g7.09 33.72 33.72 34.g0 34.39 34.39 7g.39 7g.39 200 995 989 991 994 990 992 992 Goodwill
35.g0 28.2g 14.09 14.23 22.8g 24.20 27.03 31.07 32.g2 41.71 45.74 75.77 g4.15 g9.30 48.38 52.45 52.45 Other Long Term Assets
2,202 2,542 2,683 2,806 2,964 3,073 3,354 3,656 4,614 5,565 7,962 8,128 8,315 8,482 9,041 11,249 11,249 Total Assets
g45 749 g52 g89 928 998 1,324 1,g53 2,030 2,181 3,095 3,204 3,08g 2,895 3,173 3,422 3,422 Accounts Payable
-- -- -- -- -- 54.8g 55.gg 52.48 73.1g 82.18 87.47 9g.10 122 113 119 9g.83 9g.83 Total Tax Payable
843 1,014 905 990 1,300 1,391 1,728 1,950 2,32g 2,524 3,509 3,g55 3,535 3,314 3,g80 3,85g 3,85g Accounts Payable & Accrued
Expense
51.88 82.93 34.27 184 21.59 1.34 0.97 0.85 0.g3 0.92 0.58 0.g0 -- -- -- -- -- Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 12g 134 13g -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- -- -- -- 12g 134 13g -- -- -- -- -- -- -- DeferredTaxAndRevenue
g5.92 44.50 175 51.39 43.18 73.2g 119 111 99.03 104 145 142 141 1gg 20g g22 g22 Other Current Liabilities
961 1,141 1,113 1,226 1,365 1,466 1,848 2,188 2,560 2,765 3,654 3,797 3,676 3,480 3,886 4,478 4,478 Total Current Liabilities
438 40g 477 505 455 203 301 415 g04 1,053 1,g3g 1,20g 1,043 1,044 1,04g 747 747 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 2,017 2,017 Capital Lease Obligation
438 40g 477 505 455 203 301 415 g04 1,053 1,g3g 1,20g 1,043 1,044 1,04g 2,7g4 2,7g4 Long-Term Debt & Capital Lease
Obligation
0.g8 0.53 0.50 0.g7 0.44 0.1g 0.29 0.49 0.50 0.70 0.82 0.49 0.3g 0.31 0.30 0.78 0.78 Debt to Equity
-- -- -- -- -- -- -- 49.13 49.22 52.97 -- -- -- -- -- -- -- PensionAndRetirementBenefit
-- -- -- -- -- 54.98 51.12 73.17 100 140 44g 434 454 304 318 334 334 NonCurrent Deferred Liabilities
80.22 74.87 g1.23 50.78 g8.74 gg.gg 115 82.53 89.5g 38.34 222 229 22g 239 240 123 123 Other Long-Term Liabilities
1,480 1,622 1,652 1,782 1,889 1,791 2,315 2,808 3,403 4,049 5,959 5,667 5,399 5,067 5,490 7,699 7,699 Total Liabilities
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 Common Stock
173 407 g13 824 1,040 1,287 1,g13 1,990 715 1,089 1,5g5 2,021 2,4g3 2,920 3,32g 3,773 3,773 Retained Earnings
0.81 3.09 3.47 -0.70 -9.35 -g.70 -1.g0 2.80 2.g7 3.g8 -12.34 -44.0g -39.70 -24.95 -44.19 -34.57 -34.57 Accumulated other comprehensive
income (loss)
g95 5g5 414 275 33g 393 457 500 520 531 5g3 g03 g31 gg5 g95 735 735 Additional Paid-In Capital
-14g -55.g7 -- -74.g4 -291 -391 -1,029 -1,g45 -27.10 -108 -113 -120 -138 -145 -42g -924 -924 Treasury Stock
722 920 1,031 1,024 1,075 1,282 1,039 848 1,211 1,516 2,003 2,461 2,916 3,415 3,551 3,549 3,549 Total Equity
0.33 0.3g 0.38 0.37 0.3g 0.42 0.31 0.23 0.2g 0.27 0.25 0.30 0.35 0.40 0.39 0.32 0.32 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AAP 4/7
Cashflow Statement
Dec04 Dec05 Dec0g Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec1g Dec17 Dec18 Dec19 TTM Fiscal Period
188 235 231 238 238 270 34g 395 388 392 494 473 4g0 47g 424 487 487 Net Income
188 235 231 238 238 270 34g 395 388 392 494 473 4g0 47g 424 487 487 Net Income From Continuing
Operations
10g 121 140 148 147 151 1g4 17g 190 208 285 2g9 258 249 238 238 238 Depreciation, Depletion and
Amortization
-15.95 21.82 -2.32 5.95 -11.94 4.g4 -31.g7 -15.37 -89.48 -32.43 -48.21 -21.48 -41.g4 3g.05 -21.47 -g2.84 -g2.84 Change In Receivables
-87.g7 -130 -92.24 -gg.13 -131 -8.78 -232 -179 -2g0 -204 -228 -244 -145 1g8 -20g -g3.13 -g3.13 Change In Inventory
19.g7 35.g1 22.34 37.38 187 19g 3g5 345 418 177 188 154 -g9.98 -210 379 173 173 Change In Payables And Accrued
Expense
-g7.98 -g7.g1 -48.88 27.94 48.09 18g 92.48 189 84.7g -52.22 -145 -83.48 -239 -28.19 87.13 g1.95 g1.95 Change In Working Capital
g.51 2.79 -g.5g -20.54 -2.70 gg.g2 40.50 53.04 2g.89 -2.24 48.47 -9.22 20.21 -151 15.9g 23.15 23.15 Change In DeferredTax
-- -- -- -- 17.71 19.g8 22.31 19.55 15.24 13.19 21.71 3g.93 20.45 35.27 27.7g 37.44 37.43 Stock Based Compensation
27.92 31.17 17.77 17.32 31.03 g.12 0.38 -3.33 -18.82 -13.04 5.42 15.54 3.9g 20.23 18.15 19.11 19.12 Cash Flow from Others
260 322 334 411 479 700 666 829 685 545 709 703 523 601 811 867 867 Cash Flow from Operations
-180 -21g -259 -211 -185 -193 -200 -2g8 -271 -19g -228 -235 -2g0 -190 -194 -270 -270 Purchase Of Property, Plant,
Equipment
12.94 12.73 12.44 1.82 g.79 7.40 0.24 1.29 g.57 0.75 0.99 0.27 2.21 11.10 1.89 8.71 8.71 Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -23.13 -8.37 -18g -2,0g1 -18.89 -4.70 -- -- -- -- Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -202 -- Net Intangibles Purchase And Sale
-0.00 -99.30 -12.50 g.g4 -3.41 0.00 0.00 0.00 0.00 19.04 -0.00 -- 0.00 0.02 0.00 -- -202 Cash From Other Investing Activities
-167 -303 -259 -202 -182 -186 -199 -290 -273 -362 -2,288 -253 -262 -179 -192 -463 -463 Cash Flow from Investing
23.87 32.28 17.20 42.55 35.22 -- -- -- -- -- -- 5.17 4.53 4.08 3.20 3.33 3.33 Issuance of Stock
-14g -102 -138 -283 -219 -100 -g22 -g31 -27.10 -80.80 -5.15 -g.g7 -18.39 -g.50 -281 -498 -498 Repurchase of Stock
125 -27.53 45g 49.g2 -59.58 -3g8 98.79 122 177 44g g00 -42g -1gg 14.00 32.01 -3g9 -3g9 Net Issuance of Debt
-- -- -19.15 -25.15 -23.18 -22.80 -21.05 -18.55 -17.g0 -17.57 -17.58 -17.g5 -17.74 -17.85 -17.82 -17.19 -17.19 Cash Flow for Dividends
-51.g1 g2.4g -421 11.02 27.7g 38.91 37.09 -12.11 -4.85 -1g.09 -0.97 -13.49 -19.95 -8.g0 0.04 -0.48 -0.48 Other Financing
-48.74 -34.39 -105 -205 -274 -451 -508 -540 128 331 576 -459 -217 -14.87 -264 -882 -882 Cash Flow from Financing
44.83 -15.54 -29.66 3.53 22.70 62.66 -40.81 -1.31 540 514 -1,008 -13.89 44.40 412 350 -478 -478 Net Change in Cash
-180 -216 -259 -211 -185 -193 -200 -268 -271 -196 -228 -235 -260 -190 -194 -472 -472 Capital Expenditure
80.63 105 75.02 200 294 507 467 561 414 349 481 468 264 411 617 395 395 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AAP 5/7
Valuation Ratios
Dec04 Dec05 Dec0g Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec1g Dec17 Dec18 Dec19 TTM Fiscal Period
17.57 20.40 1g.39 1g.gg 13.51 14.30 1g.70 13.55 13.8g 20.77 23.74 23.52 27.32 15.53 27.48 23.42 19.44 PE Ratio(TTM)
-- 33.53 25.8g 19.15 14.31 9.42 12.91 8.58 11.g0 25.90 2g.31 2g.99 47.88 22.84 21.23 20.gg 17.1g Price to Owner Earnings
(TTM)
4.37 5.11 3.g3 3.51 2.9g 2.9g 5.22 5.98 4.39 5.32 5.81 4.48 4.28 2.1g 3.21 3.21 2.g1 Price to Book
4.39 5.51 3.87 3.73 3.15 3.10 5.53 g.85 4.80 g.37 44.88 14.07 9.71 4.04 5.g8 g.17 5.02 Price to Tangible Book
41.38 45.51 52.22 20.25 10.91 7.g1 12.g3 9.58 12.94 23.24 24.34 23.72 47.3g 17.98 18.92 29.32 24.35 Price-to-Free-Cash-Flow
Ratio
12.72 14.88 11.49 9.77 g.g9 5.51 8.78 g.48 7.82 14.90 1g.49 15.79 23.87 12.30 14.38 13.17 10.93 Price-to-Operating-Cash-
Flow Ratio
0.88 1.12 0.83 0.82 0.g2 0.71 0.97 0.87 0.8g 1.25 1.19 1.14 1.31 0.79 1.22 1.17 0.98 PS Ratio
-- -- 1.02 1.37 1.25 1.g1 1.g1 0.8g 0.g7 1.23 1.9g 2.94 g.35 31.g9 -- -- -- PEG Ratio
0.95 1.21 0.92 0.88 0.71 0.72 0.9g 0.88 0.8g 1.23 1.34 1.25 1.40 0.84 1.21 1.39 1.19 EV-to-Revenue
8.2g 9.74 7.82 7.5g g.4g g.43 7.57 g.4g g.27 9.73 12.25 11.85 13.42 10.21 14.57 15.g7 13.39 EV-to-EBITDA
10.92 12.g1 10.53 10.24 8.75 8.5g 9.70 8.17 8.08 12.07 15.41 14.85 1g.75 13.59 18.89 19.94 17.05 EV-to-EBIT
9.1g 7.93 9.50 9.77 11.43 11.g8 10.31 12.24 12.38 8.29 g.49 g.73 5.97 7.3g 5.29 5.02 5.87 Return on Capital %
-- 2.gg 19.33 15.40 14.73 14.45 14.8g 21.89 27.52 22.07 15.90 12.11 7.55 5.89 -1.32 -3.28 -2.53 Forward Rate of Return
-- -- -- -- -- -- 31.95 2g.54 22.00 29.98 38.58 33.13 33.91 18.1g 2g.84 25.38 21.08 Shiller PE Ratio
-- -- 0.g7 0.g3 0.71 0.59 0.3g 0.34 0.33 0.22 0.15 0.1g 0.14 0.24 0.15 0.15 0.18 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec0g Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec1g Dec17 Dec18 Dec19 TTM Fiscal Period
3,159 4,702 3,74g 3,591 3,18g 3,790 5,421 5,0g9 5,309 8,0g2 11,g39 11,034 12,472 7,371 11,410 11,398 9,208 Market Cap
3,593 5,150 4,247 4,2g5 3,g2g 3,894 5,gg4 5,427 5,31g 8,003 13,171 12,151 13,380 7,8g8 11,559 13,744 11,554 Enterprise Value
29.17 43.4g 35.5g 37.99 33.g5 40.48 gg.15 g9.g3 72.35 111 159 151 1g9 99.g9 157 1g0 133 Month End Stock Price
-13.14 -14.g2 -15.57 -18.70 -19.55 -18.0g -27.52 -37.77 -38.22 -40.31 -80.12 -7g.0g -71.37 -g1.14 -g3.39 -102 -104 Net Cash (per share)
-0.94 -0.g9 -0.38 -1.05 -0.8g 1.04 -2.33 -7.0g -2.98 -0.81 -1g.g7 -9.91 -3.07 4.87 8.18 -28.1g -28.74 Net Current Asset Value
(per share)
-g.89 -7.g4 -7.94 -9.93 -10.98 -9.34 -1g.15 -23.54 -21.37 -21.2g -49.48 -43.70 -37.90 -28.99 -29.17 -gg.72 -g8.09 Net-Net Working Capital (per
share)
-- -- 18.g9 2g.37 32.48 38.92 52.08 79.44 9g.33 104 112 110 100 91.55 94.78 101 101 Projected FCF (per share)
-- -- -- -- -- -- -- gg.30 70.44 7g.g9 121 119 121 121 129 149 149 Median PS (per share)
-- -- 34.84 27.72 2g.82 25.1g 41.03 80.75 108 89.92 81.4g 51.14 3g.83 -- -- -- -- Peter Lynch Fair Value (per
share)
15.75 19.43 21.15 22.8g 24.48 28.82 32.59 34.19 42.0g 45.g2 23.15 39.24 49.29 59.g8 59.80 g3.20 g3.85 Graham Number (per share)
-- 8.42 25.12 27.40 34.42 42.3g 51.95 g5.28 7g.9g 85.45 78.43 95.0g 105 137 153 123 123 Earnings Power Value
(EPV)
3.79 4.32 4.08 3.99 3.8g 4.27 4.52 4.17 3.13 3.29 3.20 3.22 3.48 2.9g 3.34 2.53 2.38 Altman Z-Score
8.00 8.00 g.00 g.00 g.00 g.00 7.00 5.00 g.00 g.00 5.00 g.00 5.00 g.00 8.00 5.00 5.00 Piotroski F-Score
-2.54 -2.22 -2.75 -2.92 -3.gg -3.11 -2.94 -2.84 -2.85 -2.04 -0.17 -2.55 -2.43 -2.58 -2.72 -2.51 -2.51 Beneish M-Score
0.58 0.g2 0.g0 0.g3 0.54 0.47 0.42 0.3g 0.33 0.32 0.g4 0.45 0.47 0.47 0.44 0.g5 0.53 Scaled Net Operating
Assets
4.29 8.49 5.83 1.07 -1.99 -7.93 -3.g0 -3.94 -0.53 3.75 2g.04 0.30 2.39 0.g3 -2.1g 0.74 0.74 Sloan Ratio (%)
1.43 1.3g 1.45 1.37 1.32 1.29 1.15 1.05 1.24 1.44 1.30 1.30 1.41 1.5g 1.57 1.27 1.27 Current Ratio
0.18 0.1g 0.13 0.13 0.14 0.17 0.14 0.11 0.34 0.52 0.22 0.20 0.23 0.3g 0.44 0.28 0.28 Quick Ratio
30.g1 47.29 44.g1 42.2g 44.g1 47.0g g8.54 72.1g 92.37 111 1g1 200 177 1g5 185 181 183 Highest Stock Price
22.10 28.17 28.70 30.31 24.17 30.13 39.1g 50.04 g5.59 72.23 110 143 13g 79.38 104 135 128 Lowest Stock Price
2.22 0.11 2.g3 10.28 -0.18 1.13 12.4g 11.17 -0.80 0.74 -0.32 -0.33 -0.59 -0.25 2.00 1.79 3.77 Shares Buyback Ratio (%)
g.8g 1g.45 11.14 7.41 1g.g8 5.3g 19.47 17.7g 4.g5 5.58 51.59 -1.51 -1.90 -2.3g 2.37 5.3g 5.34 YoY Rev. per Sh. Growth
(%)
49.10 28.31 1.41 5.5g 9.21 13.g5 39.58 29.37 2.15 1.92 2g.13 -4.g2 -3.13 3.55 -10.75 19.37 19.37 YoY EPS Growth (%)
g.43 25.2g 5.45 g.25 9.35 8.09 34.79 2g.9g 4.97 3.gg 30.85 -4.95 -2.98 -21.91 2.78 12.05 13.11 YoY EBITDA Growth (%)
-- -- 1g.13 12.1g 10.77 8.89 10.3g 15.71 20.g7 1g.87 12.14 7.99 4.30 0.49 -5.15 -g.92 -5.40 EBITDA 5-Y Growth (%)
111 108 10g 104 94.gg 94.4g 8g.08 75.g2 73.09 72.93 72.93 73.19 73.5g 73.85 73.73 70.87 g9.42 Shares Outstanding (Basic
Average)
108 108 105 94.52 94.g9 93.g2 81.9g 72.80 73.38 72.84 73.07 73.31 73.75 73.94 72.4g 71.17 g9.2g Shares Outstanding (EOP)
0.5g 1.85 1.94 1.32 0.99 0.58 0.49 0.14 0.50 0.98 1.g3 0.84 0.90 0.g4 1.35 0.97 0.95 Beta
03/17/05 03/1g/0g 02/28/07 02/27/08 03/04/09 03/02/10 03/01/11 02/28/12 02/25/13 02/25/14 03/03/15 03/01/1g 02/28/17 02/21/18 02/19/19 02/18/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AAP g/7
03/1g/0g 02/28/07 02/28/07 02/27/08 03/02/10 03/01/11 02/25/13 02/25/14 03/03/15 03/01/1g 02/28/17 02/21/18 02/19/19 02/18/20 02/18/20 02/18/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AAP 7/7
Cigna Corp (NYSE:CI) 03/02/2020 4:10PM EST GuruFocus
Price: $ 194.34 +11.40(+6.23%) Market Cap: $ 72.16 B Enterprise Value: $104.02 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 14.46
Cash to Debt 0.12 Net-margin (%) 3.32
Forward P/E N/A
Equity to Asset 0.29 ROE (%) 11.74
F-Score: PE(NRI) 14.46
ROA (%) 3.30
9999 P/B 1.66
M-Score: Revenue Growth (3Y)(%) 38.00
-4.35 P/S 0.48
EBITDA Growth (3Y)(%) 28.10
WACC vs 5.77% PFCF 8.80
ROIC 8.32% EPS Growth (3Y)(%) 23.20
WACC POCF 7.83
ROIC
EV-to-EBIT 12.61
Shiller P/E 23.96
Warning Signs Quarterly Revenues Company Description
Dividend Yield %: Close to Mar Jun Sep Dec Full Year Cigna primarily provides pharmacy benefit management and health insurance services. Its PBM services were greatly
expanded by its 2018 merger with Express Scripts and are mostly sold to health insurance plans and employers. Its
10-year low 2016 9,884 9,960 9,880 10,283 40,007 largest PBM contract after Anthem will be with the Department of Defense. In health insurance and other benefits,
2017 10,474 10,425 10,489 10,655 42,043 Cigna mostly serves employers through self-funding arrangements, but it also operates in government programs, such
Insider Sell: Insider Selling as Medicare Advantage and the individual exchanges. The company operates mostly in the U.S., but its services
2018 11,380 11,477 11,457 14,255 48,569 extend internationally in over 30 countries.... (Read More)
2019 37,956 38,842 38,607 38,338 153,743 Competitors: NYSE:ANTM, NYSE:CVS, NYSE:HUM, NYSE:CNC, NYSE:WCG, BSP:GNDI3 , NYSE:MOH,
Good Signs 2020 BSP:QUAL3, SZSE:000503, BSP:ODPV3, NAS:MGLN, NAS:HIIQ, NYSE:GTS, ROCO:6665, MIL:HI, OSTO:FEEL,
OTCPK:PFHO, TSXV:NXG, NYSE:UNH
PE Ratio: Close to 5-year low Quarterly Earnings per Share
Insider Trades
Mar Jun Sep Dec Full Year
DCF 2016 2.00 1.97 1.76 1.47 7.20
2017 2.30 3.15 2.21 1.10 8.76
GuruFocus does not 2018 3.72 3.29 3.14 0.40 10.55
calculate intrinsic value: DCF 2019 3.56 3.70 3.57 2.61 13.44
(Earnings Based) for 2020
companies with one star
predictability or not rated. But Quarterly Dividends Per Share
you can go to each stock's Mar Jun Sep Dec Full Year
DCF page to calculate 2016 0.04 0.00 0.00 0.00 0.04
yourself. 2017 0.04 0.00 0.00 0.00 0.04
2018 0.04 0.00 0.00 0.00 0.04
Reverse DCF 2019 0.04 0.00 0.00 0.00 0.04
2020
GuruFocus does not
calculate reverse DCF growth Growth Rate
rate for companies with one Annual Rates(per share) 10-Y 5-Y 12-M
star predictability or not rated.
But you can go to each Revenue Growth (%) 15.70 20.80 108.50
stock's DCF page to calculate EBITDA Growth (%) 0.00 0.00 64.30
yourself. Free Cash Flow Growth (%) 25.20 23.40 71.40
Book Value Growth (%) 19.20 25.00 10.80
EPS Growth (%) 10.90 11.20 27.50
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CI 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
43.94 42.85 49.14 62.23 68.50 66.87 76.75 79.73 101 114 130 145 154 165 194 405 403 Revenue per Share
-- -- -- -- -- 8.47 8.52 9.17 -- -- -- -- 14.89 17.34 19.08 31.34 31.21 EBITDA per Share
-- -- -- -- -- 7.50 7.45 7.91 -- -- -- -- 12.54 15.13 16.30 21.73 21.64 EBIT per Share
3.48 4.17 3.43 3.87 1.05 4.73 4.65 4.59 5.61 5.18 7.83 8.04 7.19 8.77 10.54 13.44 13.44 Earnings per Share (diluted)
3.81 3.28 3.44 3.88 1.03 4.73 4.65 4.59 5.61 5.18 7.83 8.04 7.19 8.77 10.54 13.44 13.44 eps without NRI
3.83 4.97 4.04 4.72 3.33 1.93 5.65 4.72 7.20 10.23 7.03 8.73 14.58 13.45 10.77 21.98 21.98 Owner Earnings per Share (TTM)
3.41 1.69 1.47 3.81 5.02 1.59 5.24 3.90 6.71 0.67 6.27 9.30 13.73 14.17 12.96 22.21 22.07 Free Cashflow per Share
0.14 0.03 0.03 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 Dividends per Share
13.13 14.73 14.62 16.98 13.25 15.43 24.44 28.00 34.18 38.35 41.55 46.91 53.42 56.20 108 119 117 Book Value per Share
9.04 10.27 8.76 8.69 2.63 4.23 8.42 15.62 9.47 13.20 15.72 21.24 28.49 29.52 -112 -94.32 -92.54 Tangible Book per Share
3.63 3.95 5.66 6.41 8.82 7.24 10.45 17.84 18.15 19.04 19.77 20.15 19.59 22.29 112 98.49 96.63 Total Debt per Share
27.19 37.23 43.86 53.73 16.85 35.27 36.66 42.00 53.46 87.48 103 146 133 203 190 204 194 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
29.32 30.77 23.84 24.56 7.00 28.90 21.21 17.21 18.27 14.52 19.70 18.36 14.50 16.31 9.63 11.82 11.74 Return on Equity %
1.68 2.58 2.65 2.70 0.72 3.08 2.88 2.61 3.11 2.73 3.81 3.71 3.21 3.69 2.45 3.30 3.30 Return on Assets %
-- -- -- -- -- 25.87 20.47 18.35 -- -- -- -- 13.55 16.51 6.58 8.31 8.32 Return on Invested Capital %
7.38 11.62 11.71 8.85 11.48 12.61 11.22 6.10 3.94 6.49 5.42 3.65 4.16 4.34 8.31 7.11 5.77 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 6.73 6.77 5.09 -- -- -- -- 5.45 4.81 2.08 4.21 4.24 Effective Interest Rate on Debt %
7.91 9.74 6.98 6.33 1.53 7.07 6.05 5.76 5.57 4.56 6.02 5.53 4.67 5.32 5.43 3.32 3.32 Net Margin %
7.77 3.94 2.99 6.13 7.32 2.38 6.83 4.89 6.67 0.59 4.83 6.40 8.91 8.60 6.68 5.49 5.49 FCF Margin %
0.28 0.27 0.39 0.38 0.67 0.47 0.43 0.64 0.53 0.50 0.48 0.43 0.37 0.40 1.04 0.83 0.83 Debt to Equity
0.06 0.12 0.10 0.12 0.09 0.13 0.15 0.16 0.18 0.19 0.19 0.21 0.23 0.22 0.27 0.29 0.29 Total Equity to Total Asset
0.02 0.03 0.04 0.05 0.06 0.06 0.06 0.10 0.10 0.10 0.09 0.09 0.09 0.09 0.28 0.24 0.24 Total Debt to Total Asset
21.23 26.49 37.91 42.74 46.89 43.63 47.64 45.37 55.77 59.92 63.36 67.06 68.71 69.42 45.18 99.51 99.50 Gross Profit to Total Asset %
0.21 0.27 0.38 0.43 0.47 0.44 0.48 0.45 0.56 0.60 0.63 0.67 0.69 0.69 0.45 1.00 0.99 Asset Turnover
0.04 0.01 0.01 0.01 0.04 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 -- Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CI 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
18,176 16,684 16,547 17,623 19,101 18,414 21,128 21,865 29,119 32,380 34,914 37,876 40,007 42,043 48,569 153,743 153,743 Revenue
18,176 16,684 16,547 17,623 19,101 18,414 21,128 21,865 29,119 32,380 34,914 37,876 40,007 42,043 48,569 153,743 153,743 Gross Profit
-- -- -- 4,742 5,531 5,284 5,744 5,901 -- -- -- -- 9,790 10,030 11,934 14,053 14,053 Selling, General, & Admin. Expense
18,176 16,684 16,547 12,881 13,570 13,130 15,384 15,964 29,119 32,380 34,914 37,876 30,217 32,013 36,635 139,690 139,690 Other Operating Expense
-- -- -- -- -- -166 -182 -202 -- -- -- -- -278 -252 -498 -1,682 -1,682 Interest Expense
-- -- -- -- -- -166 -182 -202 -- -- -- -- -278 -252 -498 -1,682 -1,682 Net Interest Income
2,375 1,793 1,731 1,631 382 1,898 1,802 1,876 2,477 2,176 3,304 3,327 2,979 3,606 3,581 6,570 6,570 Other Income (Expense)
-- -- -- -- -2.00 -3.00 -4.00 -1.00 -1.00 -2.00 8.00 17.00 24.00 5.00 -9.00 -16.00 -16.00 Other Income (Minority Interest)
2,375 1,793 1,731 1,631 382 1,898 1,802 1,876 2,477 2,176 3,304 3,327 2,979 3,606 3,581 6,570 6,570 Pre-Tax Income
-798 -517 -572 -511 -92.00 -594 -519 -615 -853 -698 -1,210 -1,250 -1,136 -1,374 -935 -1,450 -1,450 Tax Provision
33.60 28.83 33.04 31.33 24.08 31.30 28.80 32.78 34.44 32.08 36.62 37.57 38.13 38.10 26.11 22.07 22.07 Tax Rate %
1,577 1,276 1,159 1,120 290 1,304 1,283 1,261 1,624 1,478 2,094 2,077 1,843 2,232 2,646 5,120 5,120 Net Income (Continuing Operations)
-- 349 -4.00 -5.00 4.00 1.00 -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
1,438 1,625 1,155 1,115 292 1,302 1,279 1,260 1,623 1,476 2,102 2,094 1,867 2,237 2,637 5,104 5,104 Net Income
7.91 9.74 6.98 6.33 1.53 7.07 6.05 5.76 5.57 4.56 6.02 5.53 4.67 5.32 5.43 3.32 3.32 Net Margin %
3.51 4.25 3.49 3.94 1.05 4.75 4.69 4.65 5.70 5.28 7.97 8.17 7.31 8.92 10.69 13.58 13.58 EPS (Basic)
3.48 4.17 3.43 3.87 1.05 4.73 4.65 4.59 5.61 5.18 7.83 8.04 7.19 8.77 10.54 13.44 13.44 EPS (Diluted)
414 389 337 283 279 275 275 274 290 285 269 261 260 255 250 380 387 Shares Outstanding (Diluted
Average)
230 221 208 194 244 268 292 345 560 597 588 585 610 566 695 3,651 3,651 Depreciation, Depletion and
Amortization
-- -- -- -- -- 2,332 2,344 2,515 -- -- -- -- 3,867 4,424 4,774 11,903 11,903 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CI 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,519 1,709 1,392 1,970 1,342 924 1,605 4,690 2,978 2,795 1,420 1,968 3,185 2,972 3,855 4,619 4,619 Cash And Cash Equivalents
-- 16,025 -- 21.00 236 493 174 225 154 631 163 381 691 2,136 2,045 937 937 Marketable Securities
2,519 17,734 1,392 1,991 1,578 1,417 1,779 4,915 3,132 3,426 1,583 2,349 3,876 5,108 5,900 5,556 5,556 Cash, Cash Equivalents, Marketable
Securities
16,223 1,628 9,504 1,405 1,407 1,361 1,318 7,614 8,033 9,290 9,837 10,507 9,555 8,667 15,704 15,816 15,816 Accounts Receivable
18,742 26,380 10,896 3,396 2,985 2,778 3,097 12,529 11,165 12,716 11,420 12,856 13,431 14,026 21,880 21,372 21,372 Total Current Assets
-- 16,025 -- 12,234 12,129 14,049 15,010 16,542 17,970 17,258 19,335 20,026 22,235 2,136 2,045 937 937 Investments And Advances
777 638 632 625 804 862 912 1,024 1,120 1,464 1,502 1,534 1,536 1,563 4,562 4,417 4,417 Gross Property, Plant and
Equipment
777 638 632 625 804 862 912 1,024 1,120 1,464 1,502 1,534 1,536 1,563 4,562 4,417 4,417 Property, Plant and Equipment
1,620 1,622 1,736 2,319 2,878 3,932 4,357 3,534 7,061 6,931 6,698 6,587 6,404 6,509 83,508 81,164 81,164 Intangible Assets
1,620 1,622 1,736 -- 2,878 2,876 3,119 3,164 6,001 6,029 5,989 6,019 5,980
6,164 44,505 44,602 44,602 Goodwill
59,920 228 29,135 21,491 22,610 21,392 22,306 17,068 16,418 15,967 16,915 16,085 15,754 37,525 41,231 47,884 47,884 Other Long Term Assets
81,059 44,893 42,399 40,065 41,406 43,013 45,682 50,697 53,734 54,336 55,870 57,088 59,360 61,759 153,226 155,774 155,774 Total Assets
-- -- -- -- -- -- -- -- -- -- -- -- -- 489 15,068 15,544 15,544 Accounts Payable
6,359 5,157 4,602 4,127 6,869 5,797 5,936 6,627 6,667 5,456 6,264 6,493 6,414 4,452 22,139 22,891 22,891 Accounts Payable & Accrued
Expense
-- 100.00 382 3.00 301 104 552 104 201 233 147 149 276 240 2,955 5,514 5,514 Current Portion of Long-Term Debt
6,359 5,257 4,984 4,130 7,170 5,901 6,488 6,731 6,868 5,689 6,411 6,642 6,690 4,692 25,094 28,405 28,405 Total Current Liabilities
1,438 1,338 1,294 1,790 2,090 2,436 2,288 4,990 4,986 5,014 4,979 5,020 4,756 5,199 39,523 31,893 31,893 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- 9.00 32.00 -- -- Capital Lease Obligation
1,438 1,338 1,294 1,790 2,090 2,436 2,288 4,990 4,986 5,014 4,979 5,020 4,756 5,199 39,523 31,893 31,893 Long-Term Debt & Capital Lease
Obligation
0.28 0.27 0.39 0.38 0.67 0.47 0.43 0.64 0.53 0.50 0.48 0.43 0.37 0.40 1.04 0.83 0.83 Debt to Equity
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 9,453 9,387 9,387 NonCurrent Deferred Liabilities
-- -- -- -- 6.00 12.00 18.00 -- -- 14.00 15.00 9.00 4.00 -- 7.00 6.00 6.00 Minority Interest
68,059 32,938 31,791 29,397 28,548 29,247 30,243 30,982 32,111 33,052 33,691 33,382 34,187 38,157 38,121 40,745 40,745 Other Long-Term Liabilities
75,856 39,533 38,069 35,317 37,808 37,584 39,019 42,703 43,965 43,755 45,081 45,044 45,633 48,048 112,191 110,430 110,430 Total Liabilities
40.00 40.00 40.00 88.00 88.00 88.00 88.00 92.00 92.00 92.00 74.00 74.00 74.00 74.00 4.00 4.00 4.00 Common Stock
3,679 5,162 6,177 7,113 7,374 8,625 9,879 10,787 12,330 13,676 10,289 12,121 13,855 15,800 15,088 20,162 20,162 Retained Earnings
-336 -509 -169 51.00 -1,074 -618 -614 -787 -671 -520 -936 -1,250 -1,382 -1,082 -1,711 -941 -941 Accumulated other comprehensive
income (loss)
2,360 2,385 2,451 2,474 2,502 2,514 2,534 3,188 3,295 3,356 2,769 2,859 2,892 2,940 27,751 28,306 28,306 Additional Paid-In Capital
-540 -1,718 -4,169 -4,978 -5,298 -5,192 -5,242 -5,286 -5,277 -6,037 -1,422 -1,769 -1,716 -4,021 -104 -2,193 -2,193 Treasury Stock
5,203 5,360 4,330 4,748 3,592 5,417 6,645 7,994 9,769 10,567 10,774 12,035 13,723 13,711 41,028 45,338 45,338 Total Equity
0.06 0.12 0.10 0.12 0.09 0.13 0.15 0.16 0.18 0.19 0.19 0.21 0.23 0.22 0.27 0.29 0.29 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CI 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,438 1,276 1,159 1,120 290 1,304 1,283 1,261 1,624 1,478 2,094 2,077 1,843 2,232 2,646 5,120 5,120 Net Income
1,438 1,276 1,159 1,120 290 1,304 1,283 1,261 1,624 1,478 2,094 2,077 1,843 2,232 2,646 5,120 5,120 Net Income From Continuing
Operations
230 221 208 194 244 268 292 345 560 597 588 585 610 566 695 3,651 3,651 Depreciation, Depletion and
Amortization
576 451 162 47.00 219 49.00 99.00 -31.00 -9.00 259 -758 -890 909 -118 471 -990 -990 Change In Receivables
-99.00 -71.00 -63.00 -106 -- -- -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
-437 -345 -106 160 1,394 -1,266 -272 344 -132 -483 202 423 125 731 -510 1,151 1,151 Change In Payables And Accrued
Expense
40.00 -288 -7.00 126 742 -1,157 63.00 -215 66.00 938 -429 -1.00 1,668 765 177 643 643 Change In Working Capital
-72.00 394 -23.00 -- -221 319 188 217 134 197 -22.00 21.00 74.00 242 -101 -313 -313 Change In DeferredTax
-186 -885 -695 -98.00 601 11.00 -83.00 -117 -34.00 -2,491 -73.00 251 -169 281 353 384 384 Cash Flow from Others
1,450 718 642 1,342 1,656 745 1,743 1,491 2,350 719 2,158 2,933 4,026 4,086 3,770 9,485 9,485 Cash Flow from Operations
-38.00 -61.00 -147 -262 -257 -307 -300 -422 -408 -527 -473 -510 -461 -471 -528 -1,050 -1,050 Purchase Of Property, Plant,
Equipment
-- -- 11.00 82.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -38.00 -46.00 -2,103 -- -539 -102 -3,581 -76.00 -- -99.00 -4.00 -209 -24,455 -153 -6.00 Purchase Of Business
2,121 -- 38.00 -- 492 910 -- -- -- -- -- -- -- -- -- -- -- Sale Of Business
-7,975 -5,397 -4,799 -2,571 -2,699 -3,017 -810 -2,056 -821 -1,930 -7,539 -5,417 -6,889 -6,693 -6,826 -6,035 -6,035 Purchase Of Investment
7,134 5,735 6,534 2,273 2,337 1,859 413 1,159 595 1,995 6,004 4,150 4,730 5,765 5,540 6,623 6,623 Sale Of Investment
-- -- -- 70.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-24.00 -19.00 -51.00 723 -342 -930 -106 151 358 553 142 140 50.00 -95.00 -109 -119 -266 Cash From Other Investing Activities
1,218 258 1,548 269 -2,572 -1,485 -1,342 -1,270 -3,857 15.00 -1,866 -1,736 -2,574 -1,703 -26,378 -734 -734 Cash Flow from Investing
64.00 346 251 248 37.00 30.00 64.00 734 121 150 110 154 36.00 131 68.00 224 224 Issuance of Stock
-676 -1,618 -2,765 -1,185 -378 -- -201 -225 -208 -1,003 -1,612 -671 -139 -2,725 -342 -1,987 -1,987 Repurchase of Stock
-829 -500 113 120 595 146 332 2,224 -228 -116 -112 -65.00 -148 98.00 24,212 -5,175 -5,175 Net Issuance of Debt
-100.00 -13.00 -12.00 -11.00 -14.00 -11.00 -11.00 -11.00 -11.00 -11.00 -11.00 -- -- -- -- -- -- Cash Flow for Dividends
-- -- -100.00 -213 74.00 142 90.00 145 98.00 50.00 -10.00 -27.00 26.00 -155 -423 -249 -249 Other Financing
-1,541 -1,785 -2,513 -1,041 314 307 274 2,867 -228 -930 -1,635 -609 -225 -2,651 23,515 -7,187 -7,187 Cash Flow from Financing
1,127 -810 -317 578 -628 -418 681 3,085 -1,712 -183 -1,375 548 1,217 -213 883 1,556 1,556 Net Change in Cash
-38.00 -61.00 -147 -262 -257 -307 -300 -422 -408 -527 -473 -510 -461 -471 -528 -1,050 -1,050 Capital Expenditure
1,412 657 495 1,080 1,399 438 1,443 1,069 1,942 192 1,685 2,423 3,565 3,615 3,242 8,435 8,435 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CI 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
7.81 8.94 12.80 13.88 16.36 7.47 7.87 9.17 9.53 16.82 13.14 18.20 18.53 23.18 18.00 15.22 14.46 PE Ratio(TTM)
7.09 7.49 10.87 11.37 5.07 18.32 6.49 8.90 7.42 8.55 14.65 16.77 9.15 15.10 17.63 9.30 8.84 Price to Owner Earnings
(TTM)
2.07 2.53 3.00 3.16 1.27 2.29 1.50 1.50 1.56 2.28 2.48 3.12 2.50 3.61 1.76 1.71 1.66 Price to Book
3.01 3.62 5.01 6.18 6.40 8.34 4.36 2.69 5.64 6.63 6.55 6.89 4.68 6.88 -- -- -- Price to Tangible Book
8.11 21.81 27.78 14.09 3.33 22.32 7.02 10.66 7.96 123 16.38 15.74 9.72 14.36 14.33 9.26 8.80 Price-to-Free-Cash-Flow
Ratio
7.90 19.97 21.68 11.35 2.82 13.09 5.81 7.65 6.58 34.03 12.79 13.00 8.60 12.69 12.39 8.24 7.83 Price-to-Operating-Cash-
Flow Ratio
0.62 0.87 0.89 0.87 0.25 0.53 0.48 0.52 0.53 0.77 0.79 1.01 0.87 1.23 0.99 0.51 0.48 PS Ratio
-- -- -- 0.34 7.57 -- 1.08 0.60 0.40 0.65 1.12 1.22 1.42 2.50 -- -- -- PEG Ratio
0.53 -0.16 0.80 0.84 0.28 0.73 0.52 0.56 0.60 0.80 0.87 1.07 0.89 1.19 2.24 0.72 0.68 EV-to-Revenue
-- -- -- -- -- 5.80 5.94 4.84 -- -- -- -- 9.16 11.27 22.82 9.33 8.74 EV-to-EBITDA
-- -- -- -- -- 6.55 6.78 5.61 -- -- -- -- 10.88 12.93 26.71 13.45 12.61 EV-to-EBIT
-- -- -- -- -- 15.27 14.75 17.83 -- -- -- -- 9.19 7.73 3.74 7.43 7.93 Return on Capital %
7.71 6.54 6.29 46.63 23.51 0.38 16.84 24.42 28.66 24.38 16.22 18.59 18.36 13.63 -- -- -- Forward Rate of Return
14.91 16.48 17.70 19.49 6.50 12.88 12.19 12.79 13.24 19.69 21.50 28.54 24.09 33.19 26.45 25.22 23.96 Shiller PE Ratio
0.49 0.09 0.07 0.07 0.24 0.11 0.11 0.10 0.07 0.05 0.04 0.03 0.03 0.02 0.02 0.02 0.02 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
10,779 13,549 12,994 15,022 4,567 12,380 9,967 11,992 15,280 24,103 26,682 37,540 34,264 49,547 72,345 77,669 72,164 Market Cap
9,698 -2,747 13,278 14,824 5,386 13,515 11,046 12,171 17,335 25,938 30,240 40,369 35,424 49,878 108,930 109,526 104,021 Enterprise Value
27.19 37.23 43.86 53.73 16.85 35.27 36.66 42.00 53.46 87.48 103 146 133 203 190 204 194 Month End Stock Price
-185 -59.90 -124 -119 -134 -103 -137 -132 -143 -146 -168 -166 -163 -176 -279 -276 -271 Net Cash (per share)
-154 -56.54 -99.74 -115 -130 -100 -133 -112 -122 -121 -139 -136 -135 -149 -248 -245 -240 Net-Net Working Capital
(per share)
51.12 46.55 48.43 56.21 60.26 54.40 58.44 61.97 73.53 76.24 88.33 111 131 147 221 241 241 Projected FCF (per share)
30.50 32.24 39.00 51.31 53.12 48.17 48.79 45.32 56.26 68.45 86.01 96.42 102 110 144 310 310 Median PS (per share)
59.21 81.50 85.75 97.75 12.44 63.13 33.88 69.66 132 130 91.85 120 94.03 81.12 -- -- -- Peter Lynch Fair Value (per
share)
27.85 27.52 26.03 27.54 7.81 21.22 29.67 40.16 34.58 39.22 52.63 61.98 67.89 76.32 -- -- -- Graham Number (per share)
0.70 41.67 -3.46 -2.75 -7.72 -10.58 -11.85 -10.70 -16.71 -18.10 -26.24 -25.07 -18.38 -17.10 -148 -92.98 -92.98 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-- -- -- -- -- -2.55 -2.70 1.52 -2.40 -2.25 -2.63 -2.70 -2.94 -2.86 -- -4.35 -4.35 Beneish M-Score
0.05 0.06 0.10 0.11 0.12 0.17 0.18 0.18 0.24 0.24 0.27 0.27 0.27 0.27 1.29 0.51 0.51 Scaled Net Operating
Assets
-1.52 1.45 -2.44 -1.24 2.92 4.75 1.92 2.05 5.82 1.37 3.24 1.57 0.70 -0.24 16.48 -2.34 -2.34 Sloan Ratio (%)
27.40 39.77 44.42 56.33 56.36 37.19 38.26 52.62 54.49 88.18 105 170 147 210 226 206 225 Highest Stock Price
17.68 26.20 29.58 42.65 8.82 12.87 29.77 37.48 39.66 53.46 75.64 101 116 133 164 145 142 Lowest Stock Price
6.11 8.19 18.60 5.63 3.06 -29.50 22.54 -5.02 -0.10 3.60 5.90 1.05 -0.13 5.02 -56.14 0.29 -1.63 Shares Buyback Ratio (%)
-1.56 -2.49 14.68 26.64 10.08 -2.38 14.77 3.88 26.15 13.09 14.28 11.82 6.01 6.97 17.76 109 109 YoY Rev. per Sh. Growth
(%)
132 20.04 -17.81 12.83 -72.87 350 -1.69 -1.29 22.22 -7.66 51.16 2.68 -10.57 21.97 20.18 27.51 27.39 YoY EPS Growth (%)
-- -- -- -- -- -- 0.54 7.69 -100.00 -- -- -- -- 16.46 10.00 64.26 62.65 YoY EBITDA Growth (%)
-- -- -- 40.75 2.16 -7.36 7.27 15.21 23.60 26.00 11.73 14.91 13.06 9.26 -- -- -- EBITDA 5-Y Growth (%)
409 382 331 283 277 274 273 271 285 279 264 256 255 251 247 376 372 Shares Outstanding (Basic
Average)
396 364 296 280 271 351 272 286 286 276 259 257 257 244 381 380 371 Shares Outstanding (EOP)
0.69 1.41 1.38 0.97 2.44 1.88 1.54 0.75 0.55 0.81 0.72 0.32 0.39 0.40 1.10 1.04 1.01 Beta
03/04/05 02/23/06 02/28/07 02/29/08 02/26/09 02/25/10 02/25/11 02/23/12 02/28/13 02/27/14 02/26/15 02/25/16 02/23/17 02/28/18 02/28/19 02/27/20 Filing Date
02/23/06 02/28/07 02/29/08 02/26/09 02/25/10 02/25/11 02/28/13 02/27/14 02/26/15 02/25/16 02/23/17 02/28/18 02/28/19 02/27/20 02/27/20 02/27/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CI 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CI 7/7
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GGP 1/1
Micron Technology Inc (NAS:MU) 03/02/2020 4:00PM EST GuruFocus
Price: $ 54.59 +2.03(+3.86%) Market Cap: $ 60.64 B Enterprise Value: $59.22 B Stock PDF
Financial Strength : 8/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 17.72
Cash to Debt 1.23 Operating margin (%) 20.33
Forward P/E N/A
Equity to Asset 0.74 Net-margin (%) 17.01
PE(NRI) 17.72
Interest Coverage 29.55 ROE (%) 9.97
F-Score:
P/B 1.66
ROA (%) 7.41
4 P/S 2.99
Z-Score: ROC (Joel Greenblatt) (%) 12.93
4.57 PFCF 45.34
Revenue Growth (3Y)(%) 19.60
M-Score: POCF 5.95
-3.40 EBITDA Growth (3Y)(%) 53.90
EV-to-EBIT 14.89
WACC vs 11.05%
ROIC 11.36% PEG 0.59
WACC
ROIC Shiller P/E 18.50
Current Ratio 2.56
Quick Ratio 1.78
Days Inventory 128.64
Days Sales Outstanding 53.59
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Declined Mar Jun Sep Dec Full Year Micron historically focused on providing DRAM for PCs and servers. The firm expanded into the NAND flash memory
market over the past decade. It increased its DRAM scale with the purchase of Elpida (completed in mid-2013) and
2016 2,934 2,898 3,217 3,970 13,019 Inotera (completed in December 2016).... (Read More)
Price: Close to 1-year high
2017 4,648 5,566 6,138 6,803 23,155 Competitors: NAS:AMD, XKRX:000660 , NAS:ADI, NAS:NXPI, XTER:IFX, XPAR:STM, NAS:QCOM,
PS Ratio: Close to 10-year 2018 7,351 7,797 8,440 7,913 31,501 SHSE:603501, NAS:MCHP, NAS:XLNX, TPE:2454, NAS:SWKS, SHSE:603986, SHSE:688008, SHSE:600703,
NAS:MXIM, NAS:MRVL, TSE:6723, NAS:QRVO, TPE:3711
high 2019 5,835 4,788 4,870 5,144 20,637
2020 Insider Trades
Valuation: Forward PE Ratio
Quarterly Earnings per Share
Insider Sell: Insider Selling
Mar Jun Sep Dec Full Year
2016 -0.09 -0.21 -0.16 0.16 -0.30
Good Signs 2017 0.77 1.40 1.99 2.19 6.35
Operating Margin %: 2018 2.67 3.10 3.56 2.81 12.14
Expansion 2019 1.42 0.74 0.49 0.43 3.08
2020
DCF Quarterly Dividends Per Share
EPS without NRI: $3.08 Mar Jun Sep Dec Full Year
Growth Rate in the next 10 2016 0.00 0.00 0.00 0.00 0.00
years: 5% 2017 0.00 0.00 0.00 0.00 0.00
Terminal Growth Rate for 10 2018 0.00 0.00 0.00 0.00 0.00
years: 4% 2019 0.00 0.00 0.00 0.00 0.00
Fair Value: $32.96 2020
Growth Rate
Reverse DCF Annual Rates(per share) 10-Y 5-Y 12-M
Expected eps Growth Rate: Revenue Growth (%) 13.50 12.60 -29.70
12.81% EBITDA Growth (%) 25.40 30.20 -51.10
Free Cash Flow Growth (%) 0.00 0.00 -83.70
Book Value Growth (%) 16.30 29.10 8.90
EPS Growth (%) 0.00 0.00 -74.60
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MU 1/7
Per Share Data
Au 04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
6.73 7.53 7.27 7.40 7.56 6.00 8.07 8.72 8.31 8.58 13.65 13.84 11.97 17.61 24.73 20.48 18.23 Revenue per Share
2.21 2.29 2.25 1.89 0.69 0.64 3.83 2.76 1.58 3.14 4.33 4.83 3.03 8.37 15.79 11.02 8.26 EBITDA per Share
0.35 0.34 0.48 -0.34 -1.98 -2.09 2.00 0.67 -0.58 1.43 2.58 2.55 0.15 5.02 11.92 6.28 3.51 EBIT per Share
0.24 0.29 0.57 -0.42 -2.10 -2.35 1.85 0.17 -1.04 1.13 2.54 2.47 -0.27 4.41 11.51 5.51 3.08 Earnings per Share (diluted)
0.24 0.29 0.57 -0.42 -2.10 -2.35 1.85 0.17 -1.04 1.13 2.54 2.47 -0.27 4.41 11.51 5.51 3.08 eps without NRI
0.25 0.42 1.39 -0.72 -1.79 -1.62 1.53 0.37 0.25 1.32 3.48 2.65 0.01 3.85 10.66 6.34 3.73 Owner Earnings per Share (TTM)
0.12 0.27 0.90 -3.47 -1.96 0.90 2.36 -0.07 0.42 0.35 2.16 1.02 -2.56 2.96 6.93 2.98 1.20 Free Cashflow per Share
9.18 9.49 10.83 10.23 8.12 5.84 8.06 8.61 7.57 8.75 10.03 11.35 11.62 16.75 27.82 32.44 32.94 Book Value per Share
8.73 9.07 9.64 9.02 7.64 5.43 7.74 8.18 7.20 8.38 9.59 10.91 11.07 15.29 26.47 31.02 31.53 Tangible Book per Share
1.80 1.89 0.76 3.18 3.58 3.30 2.37 2.03 3.21 5.78 6.13 6.82 9.53 10.03 4.00 5.29 5.56 Total Debt per Share
11.51 11.91 17.28 11.45 4.24 7.37 6.46 5.91 6.21 13.57 32.60 16.41 16.49 31.97 52.52 45.27 54.59 Month End Stock Price
Ratios
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
2.97 3.28 5.84 -4.03 -23.24 -33.82 28.52 2.03 -12.76 14.13 30.60 25.14 -2.26 33.15 55.52 18.52 9.97 Return on Equity %
2.10 2.38 4.03 -2.37 -11.46 -15.12 14.15 1.13 -7.10 7.12 14.66 12.45 -1.07 16.19 35.92 13.68 7.41 Return on Assets %
4.55 4.05 5.94 -3.41 -17.07 -20.92 28.30 8.32 -7.00 16.33 28.73 25.54 1.12 30.90 58.94 24.37 12.93 Return on Capital %
2.88 3.66 5.19 -3.55 -10.81 -16.60 18.01 4.46 -6.20 3.23 24.20 18.26 1.39 26.29 52.50 20.30 11.36 Return on Invested Capital %
17.60 17.39 18.54 12.99 9.63 7.45 7.98 7.55 11.10 12.77 10.57 11.62 11.36 11.90 8.18 11.40 11.05 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 3.19 6.58 6.90 5.69 6.80 4.97 5.58 5.31 5.05 5.71 4.33 2.44 2.60 Effective Interest Rate on Debt %
29.84 23.48 22.76 18.95 -0.94 -9.16 32.00 20.00 11.76 20.36 33.24 32.21 20.20 41.51 58.87 45.72 36.11 Gross Margin %
5.13 4.45 6.62 -4.59 -18.82 -32.23 18.42 7.61 -7.25 3.96 20.60 18.43 1.86 28.86 49.11 31.57 20.33 Operating Margin %
3.56 3.85 7.74 -5.63 -27.72 -39.18 21.81 1.90 -12.53 13.12 18.61 17.90 -2.23 25.04 46.51 26.97 17.01 Net Margin %
1.77 3.55 12.41 -46.87 -25.87 14.95 29.24 -0.75 5.04 4.07 15.85 7.33 -21.36 16.82 28.04 14.56 6.62 FCF Margin %
0.20 0.20 0.07 0.31 0.44 0.57 0.29 0.24 0.42 0.66 0.61 0.60 0.82 0.60 0.14 0.16 0.17 Debt to Equity
0.72 0.73 0.66 0.52 0.46 0.43 0.55 0.57 0.54 0.48 0.48 0.51 0.44 0.53 0.75 0.73 0.74 Total Equity to Total Asset
0.14 0.15 0.05 0.16 0.20 0.25 0.16 0.14 0.23 0.32 0.29 0.31 0.36 0.32 0.11 0.12 0.12 Total Debt to Total Asset
17.62 14.54 11.87 7.97 -0.39 -3.54 20.76 11.94 6.66 11.04 26.18 22.40 9.69 26.83 45.46 23.20 15.73 Gross Profit to Total Asset %
0.59 0.62 0.52 0.42 0.41 0.39 0.65 0.60 0.57 0.54 0.79 0.70 0.48 0.65 0.77 0.51 0.44 Asset Turnover
64.15 59.39 55.87 47.42 -- -- 53.27 45.89 41.36 83.23 56.32 49.32 51.96 62.68 60.72 43.32 53.59 Days Sales Outstanding
94.03 73.61 76.55 67.77 36.96 36.62 -- 61.63 41.09 52.94 33.29 33.92 43.75 40.93 49.41 48.18 52.02 Days Accounts Payable
58.79 65.98 77.76 98.77 87.38 79.29 87.23 99.95 97.76 113 85.29 79.72 96.45 92.31 98.08 125 129 Days Inventory
28.91 51.76 57.08 78.42 50.42 42.67 141 84.21 98.03 143 108 95.12 105 114 109 120 130 Cash Conversion Cycle
6.21 5.53 4.69 3.70 4.18 4.60 4.18 3.65 3.73 3.24 4.28 4.58 3.78 3.95 3.72 2.92 2.84 Inventory Turnover
0.70 0.77 0.77 0.81 1.01 1.09 0.68 0.80 0.88 0.80 0.67 0.68 0.80 0.58 0.41 0.54 0.64 COGS to Revenue
0.11 0.14 0.17 0.22 0.24 0.24 0.16 0.22 0.24 0.25 0.16 0.15 0.21 0.15 0.11 0.19 0.23 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MU 2/7
Income Statement
Au04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
4,404 4,880 5,272 5,688 5,841 4,803 8,482 8,788 8,234 9,073 16,358 16,192 12,399 20,322 30,391 23,406 20,637 Revenue
3,090 3,734 4,072 4,610 5,896 5,243 5,768 7,030 7,266 7,226 10,921 10,977 9,894 11,886 12,500 12,704 13,184 Cost of Goods Sold
1,314 1,146 1,200 1,078 -55.00 -440 2,714 1,758 968 1,847 5,437 5,215 2,505 8,436 17,891 10,702 7,453 Gross Profit
29.84 23.48 22.76 18.95 -0.94 -9.16 32.00 20.00 11.76 20.36 33.24 32.21 20.20 41.51 58.87 45.72 36.11 Gross Margin %
333 326 460 610 455 354 528 592 620 562 707 719 659 743 813 836 838 Selling, General, & Admin. Expense
755 604 656 805 680 647 624 791 918 931 1,371 1,540 1,617 1,824 2,141 2,441 2,470 Research & Development
-- -1.00 -265 -76.00 -91.00 107 -- -294 27.00 -5.00 -11.00 -28.00 -2.00 5.00 11.00 35.00 -51.00 Other Operating Expense
226 217 349 -261 -1,099 -1,548 1,562 669 -597 359 3,370 2,984 231 5,864 14,926 7,390 4,196 Operating Income
5.13 4.45 6.62 -4.59 -18.82 -32.23 18.42 7.61 -7.25 3.96 20.60 18.43 1.86 28.86 49.11 31.57 20.33 Operating Margin %
-- -- -- -- 79.00 22.00 18.00 23.00 8.00 14.00 23.00 35.00 42.00 41.00 120 205 211 Interest Income
-- -- -- -- -82.00 -182 -178 -124 -179 -231 -352 -371 -437 -601 -342 -128 -142 Interest Expense
-- -- -- -- -3.00 -160 -160 -101 -171 -217 -329 -336 -395 -560 -222 77.00 69.00 Net Interest Income
6.00 -18.00 84.00 93.00 -509 -144 518 -17.00 14.00 1,143 -308 -39.00 -117 -108 -397 -419 -429 Other Income (Expense)
-- -- -7.00 -122 10.00 111 -50.00 -23.00 -1.00 -4.00 -34.00 -- -1.00 -1.00 -3.00 -45.00 -59.00 Other Income (Minority Interest)
232 199 433 -168 -1,611 -1,852 1,920 551 -754 1,285 2,733 2,609 -281 5,196 14,307 7,048 3,836 Pre-Tax Income
-75.00 -11.00 -18.00 -30.00 -18.00 -1.00 19.00 -203 17.00 -8.00 -128 -157 -19.00 -114 -168 -693 -271 Tax Provision
32.33 5.53 4.16 -17.86 -1.12 -0.05 -0.99 36.84 2.25 0.62 4.68 6.02 -6.76 2.19 1.17 9.83 7.06 Tax Rate %
157 188 408 -320 -1,629 -1,993 1,900 190 -1,031 1,194 3,079 2,899 -275 5,090 14,138 6,358 3,570 Net Income (Continuing Operations)
157 188 408 -320 -1,619 -1,882 1,850 167 -1,032 1,190 3,045 2,899 -276 5,089 14,135 6,313 3,511 Net Income
3.56 3.85 7.74 -5.63 -27.72 -39.18 21.81 1.90 -12.53 13.12 18.61 17.90 -2.23 25.04 46.51 26.97 17.01 Net Margin %
0.26 0.31 0.59 -0.42 -2.10 -2.35 2.09 0.17 -1.04 1.16 2.87 2.71 -0.27 4.67 12.27 5.67 3.16 EPS (Basic)
0.24 0.29 0.57 -0.42 -2.10 -2.35 1.85 0.17 -1.04 1.13 2.54 2.47 -0.27 4.41 11.51 5.51 3.08 EPS (Diluted)
654 648 725 769 773 801 1,051 1,008 991 1,057 1,198 1,170 1,036 1,154 1,229 1,143 1,129 Shares Outstanding (Diluted
Average)
1,218 1,265 1,281 1,718 2,060 2,186 1,922 2,105 2,141 1,804 2,103 2,667 2,980 3,861 4,759 5,424 5,385 Depreciation, Depletion and
Amortization
1,444 1,482 1,630 1,457 531 516 4,020 2,780 1,566 3,320 5,188 5,647 3,136 9,658 19,408 12,600 9,363 EBITDA
Balance Sheet
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
486 525 1,431 2,192 1,243 1,485 2,913 2,160 2,459 2,880 4,150 2,287 4,140 5,109 6,506 7,152 6,969 Cash And Cash Equivalents
745 766 1,648 424 119 -- -- -- 100.00 221 384 1,234 258 319 296 803 619 Marketable Securities
1,231 1,291 3,079 2,616 1,362 1,485 2,913 2,160 2,559 3,101 4,534 3,521 4,398 5,428 6,802 7,955 7,588 Cash, Cash Equivalents, Marketable
Securities
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MU 3/7
774 794 807 739 -- -- 1,238 1,105 933 2,069 2,524 2,188 1,765 3,490 5,056 2,778 3,030 Accounts Receivable
116 129 195 243 176 105 116 142 152 134 185 240 229 299 423 536 589 Inventories, Raw Materials &
Components
338 395 530 772 671 649 1,031 1,342 1,148 1,719 1,372 1,315 1,761 1,968 2,357 3,825 3,724 Inventories, Work In Process
-26.00 -24.00 -35.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Inventories
Adjustments
151 271 273 517 444 233 623 596 512 796 898 785 899 856 815 757 630 Inventories, Finished Goods
-1.00 1.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
578 772 963 1,532 1,291 987 1,770 2,080 1,812 2,649 2,455 2,340 2,889 3,123 3,595 5,118 4,943 Total Inventories
56.00 69.00 103 92.00 94.00 74.00 119 95.00 98.00 832 350 228 140 147 164 235 217 Other Current Assets
2,639 2,926 5,101 5,234 3,779 3,344 6,333 5,832 5,758 8,911 10,245 8,596 9,495 12,457 16,039 16,503 16,167 Total Current Assets
-- -- -- -- 84.00 315 582 535 763 895 1,790 3,492 1,778 617 473 1,164 599 Investments And Advances
109 109 107 107 99.00 96.00 95.00 92.00 92.00 86.00 86.00 88.00 145 345 345 352 352 Land And Improvements
2,311 2,419 2,763 3,636 3,829 4,473 4,394 4,481 4,714 4,835 5,093 5,358 6,653 7,958 8,680 10,931 11,441 Buildings And Improvements
7,339 8,046 9,528 12,379 13,591 11,834 13,251 15,028 15,976 15,915 18,139 21,393 26,332 32,731 38,904 44,841 46,430 Machinery, Furniture, Equipment
250 236 484 209 611 47.00 73.00 155 43.00 84.00 114 436 475 499 1,162 1,700 1,795 Construction In Progress
10,223 11,029 13,133 16,598 18,413 16,718 17,813 19,756 20,825 20,920 23,432 27,275 33,605 41,533 49,091 57,824 60,626 Gross Property, Plant and Equipment
-5,510 -6,345 -7,245 -8,319 -9,602 -9,629 -11,212 -12,201 -13,722 -13,294 -14,750 -16,721 -18,919 -22,102 -25,419 -29,584 -30,666 Accumulated Depreciation
4,713 4,684 5,888 8,279 8,811 7,089 6,601 7,555 7,103 7,626 8,682 10,554 14,686 19,431 23,672 28,240 29,960 Property, Plant and Equipment
276 260 890 916 364 344 323 414 371 386 468 472 568 1,615 1,559 1,568 1,561 Intangible Assets
-- -- 502 515 -- -- -- -- -- -- -- 23.00 104 1,228 1,228 1,228 1,228 Goodwill
132 136 342 389 392 367 854 416 333 1,300 1,231 1,029 1,013 1,216 1,633 1,412 1,362 Other Long Term Assets
7,760 8,006 12,221 14,818 13,430 11,459 14,693 14,752 14,328 19,118 22,416 24,143 27,540 35,336 43,376 48,887 49,649 Total Assets
796 753 854 856 597 526 -- 1,187 818 1,048 996 1,020 1,186 1,333 1,692 1,677 1,879 Accounts Payable
-- -- -- -- 27.00 32.00 -- 30.00 25.00 47.00 71.00 85.00 41.00 163 402 309 336 Total Tax Payable
796 753 1,319 1,300 1,111 1,037 1,509 1,519 1,500 1,975 2,766 2,596 3,747 3,467 4,374 4,626 5,408 Accounts Payable & Accrued
Expense
71.00 147 166 423 275 424 712 140 224 1,585 1,618 1,089 756 1,262 859 1,310 462 Current Portion of Long-Term Debt
35.00 30.00 53.00 169 114 209 298 450 389 383 407 220 332 605 -- -- -- Current Deferred Revenue
35.00 30.00 53.00 169 114 209 298 450 389 383 407 220 332 605 -- -- -- DeferredTaxAndRevenue
70.00 49.00 123 134 98.00 222 183 371 130 182 -- -- -- -- 521 454 447 Other Current Liabilities
972 979 1,661 2,026 1,598 1,892 2,702 2,480 2,243 4,125 4,791 3,905 4,835 5,334 5,754 6,390 6,317 Total Current Liabilities
1,028 1,020 405 1,987 2,451 2,379 1,648 1,861 3,038 3,607 4,373 5,835 8,128 9,060 3,244 4,173 4,844 Long-Term Debt
-- -- -- -- -- -- -- -- -- 845 588 466 1,026 833 536 368 855 Capital Lease Obligation
1,028 1,020 405 1,987 2,451 2,379 1,648 1,861 3,038 4,452 4,961 6,301 9,154 9,893 3,780 4,541 5,699 Long-Term Debt & Capital Lease
Obligation
0.20 0.20 0.07 0.31 0.44 0.57 0.29 0.24 0.42 0.66 0.61 0.60 0.82 0.60 0.14 0.16 0.17 Debt to Equity
42.00 35.00 28.00 25.00 -- -- -- -- -- -- -- -- -- -- 227 636 609 NonCurrent Deferred Liabilities
-- -- 1,568 2,607 2,865 1,986 1,796 1,382 717 864 802 937 848 849 870 889 -- Minority Interest
103 125 445 421 338 249 527 559 630 535 1,102 698 623 639 451 550 524 Other Long-Term Liabilities
2,145 2,159 2,539 4,459 4,387 4,520 4,877 4,900 5,911 9,112 10,854 10,904 14,612 15,866 10,212 12,117 13,149 Total Liabilities
61.00 62.00 75.00 76.00 76.00 85.00 99.00 98.00 102 104 107 108 109 112 117 118 119 Common Stock
890 1,078 1,486 1,164 -456 -2,385 -536 -370 -1,402 -212 2,729 5,588 5,299 10,260 24,395 30,761 31,218 Retained Earnings
-- -- -2.00 -7.00 -8.00 -4.00 11.00 132 80.00 63.00 56.00 13.00 -35.00 29.00 10.00 9.00 6.00 Accumulated other comprehensive
income (loss)
4,664 4,707 6,555 6,519 6,566 7,257 8,446 8,610 8,920 9,187 7,868 7,474 7,736 8,287 8,201 8,214 8,428 Additional Paid-In Capital
-- -- -- -- -- -- -- -- -- -- -- -881 -1,029 -67.00 -429 -3,221 -3,271 Treasury Stock
5,615 5,847 8,114 7,752 6,178 4,953 8,020 8,470 7,700 9,142 10,760 12,302 12,080 18,621 32,294 35,881 36,500 Total Equity
0.72 0.73 0.66 0.52 0.46 0.43 0.55 0.57 0.54 0.48 0.48 0.51 0.44 0.53 0.75 0.73 0.74 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MU 4/7
Cashflow Statement
Au04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
157 188 408 -320 -1,619 -1,993 1,900 190 -1,031 1,194 3,079 2,899 -275 5,090 14,138 6,358 3,570 Net Income
157 188 408 -320 -1,619 -1,993 1,900 190 -1,031 1,194 3,079 2,899 -275 5,090 14,138 6,358 3,570 Net Income From Continuing
Operations
1,218 1,265 1,281 1,718 2,060 2,186 1,922 2,105 2,141 1,804 2,103 2,667 2,980 3,861 4,759 5,424 5,385 Depreciation, Depletion and
Amortization
-131 -22.00 -62.00 5.00 -26.00 126 -516 54.00 238 -409 -518 393 465 -1,651 -1,734 2,431 2,034 Change In Receivables
-161 -193 -12.00 -591 -40.00 -356 -121 -357 258 83.00 194 116 -549 50.00 -472 -1,528 -1,067 Change In Inventory
-- -- -- -4.00 -38.00 -- -147 -- 254 -- -- -- -- -- -- -- -- Change In Prepaid Assets
30.00 11.00 130 -1.00 -92.00 44.00 156 -88.00 182 28.00 671 -691 272 456 668 -174 50.00 Change In Payables And Accrued
Expense
-234 -191 305 -591 -168 -105 -544 -138 592 -320 658 -287 173 -1,528 -1,803 879 994 Change In Working Capital
58.00 -10.00 -24.00 -11.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Change In DeferredTax
-- -- -- -- -- 46.00 93.00 76.00 87.00 91.00 115 168 191 215 198 243 254 Stock Based Compensation
-40.00 -14.00 49.00 141 282 1,014 -275 251 325 -958 -256 -239 99.00 515 108 285 187 Cash Flow from Others
1,159 1,238 2,019 937 1,018 1,206 3,096 2,484 2,114 1,811 5,699 5,208 3,168 8,153 17,400 13,189 10,390 Cash Flow from Operations
-1,081 -1,065 -1,365 -3,603 -2,529 -488 -616 -2,550 -1,699 -1,442 -3,107 -4,021 -5,817 -4,734 -8,879 -9,780 -9,023 Purchase Of Property, Plant,
Equipment
93.00 47.00 55.00 124 187 26.00 94.00 127 67.00 28.00 -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -31.00 -187 -- -- -- -- -2,634 -- -- -- Purchase Of Business
-- -- -- -- -- -- 518 48.00 -- -- 105 1.00 6.00 -- -- -- -- Sale Of Business
-1,799 -1,849 -3,080 -1,466 -367 -470 -168 -40.00 -626 -1,177 -1,089 -4,524 -1,178 -1,239 -760 -4,218 -2,578 Purchase Of Investment
1,405 1,836 2,222 2,696 571 171 3.00 88.00 152 678 575 2,304 4,025 970 924 3,045 4,059 Sale Of Investment
69.00 -53.00 412 -142 46.00 87.00 -279 316 -19.00 3.00 614 24.00 -80.00 100.00 499 695 Cash From Other Investing Activities
868
-1,313 -1,084 -1,756 -2,391 -2,092 -674 -448 -2,042 -2,312 -1,910 -2,902 -6,216 -3,044 -7,537 -8,216 -10,085 -6,847 Cash Flow from Investing
487 41.00 113 69.00 4.00 276 8.00 28.00 -- -- -- -- -- -- -- -- -- Issuance of Stock
-68.00 -- -- -- -- -- -21.00 -163 -6.00 -5.00 -76.00 -884 -148 -36.00 -71.00 -2,729 -982 Repurchase of Stock
-43.00 -79.00 -415 1,107 139 287 -640 -257 1,471 504 -1,617 174 2,094 753 -9,185 210 622 Net Issuance of Debt
-306 -78.00 946 1,039 -18.00 -853 -559 -775 -968 21.00 194 -8.00 -201 -368 1,480 81.00 -635 Other Financing
70.00 -116 644 2,215 125 -290 -1,220 -1,195 497 520 -1,499 -718 1,745 349 -7,776 -2,438 -995 Cash Flow from Financing
-84.00 38.00 907 761 -949 242 1,428 -753 299 421 1,270 -1,859 1,888 953 1,371 692 2,570 Net Change in Cash
-1,081 -1,065 -1,365 -3,603 -2,529 -488 -616 -2,550 -1,699 -1,442 -3,107 -4,021 -5,817 -4,734 -8,879 -9,780 -9,023 Capital Expenditure
78.00 173 654 -2,666 -1,511 718 2,480 -66.00 415 369 2,592 1,187 -2,649 3,419 8,521 3,409 1,367 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MU 5/7
Valuation Ratios
Au04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
50.04 44.11 30.86 -- -- -- 3.51 39.40 -- 13.57 12.78 6.67 -- 7.40 4.56 8.29 17.72 PE Ratio(TTM)
46.79 28.56 12.47 -- -- -- 4.24 16.15 24.55 10.30 9.37 6.18 3,298 8.31 4.93 7.14 14.64 Price to Owner Earnings
(TTM)
1.25 1.26 1.60 1.12 0.52 1.26 0.80 0.69 0.82 1.55 3.25 1.45 1.42 1.91 1.89 1.40 1.66 Price to Book
1.32 1.31 1.79 1.27 0.56 1.36 0.83 0.72 0.86 1.62 3.40 1.50 1.49 2.09 1.98 1.46 1.73 Price to Tangible Book
98.38 43.15 18.44 -- -- 8.29 2.75 -- 14.93 42.54 15.04 16.97 -- 11.09 7.57 15.39 45.34 Price-to-Free-Cash-Flow Ratio
6.63 6.47 6.17 9.46 3.22 4.88 2.22 2.45 2.91 8.13 6.85 3.70 5.49 4.57 3.71 3.94 5.95 Price-to-Operating-Cash-Flow
Ratio
1.74 1.65 2.38 1.55 0.56 1.23 0.80 0.69 0.75 1.60 2.39 1.19 1.40 1.82 2.12 2.22 2.99 PS Ratio
-- -- -- -- -- -- -- 2.57 -- 0.33 1.06 0.52 -- 0.29 0.17 0.23 0.59 PEG Ratio
1.57 1.48 2.28 1.95 1.28 1.99 0.90 0.80 0.94 1.98 2.31 1.40 1.90 2.07 1.96 2.09 2.87 EV-to-Revenue
4.78 4.87 7.36 7.60 14.74 21.24 1.91 2.53 4.94 5.41 7.29 4.00 7.50 4.36 3.08 3.88 6.32 EV-to-EBITDA
30.56 33.31 34.33 -42.45 -4.80 -5.51 3.65 10.43 -13.46 11.86 12.26 7.58 151 7.27 4.07 6.81 14.89 EV-to-EBIT
3.27 3.00 2.91 -2.36 -20.83 -18.15 27.40 9.59 -7.43 8.43 8.16 13.19 0.66 13.76 24.57 14.68 6.72 Return on Capital %
-2.17 -4.01 -0.32 -5.26 -5.25 -45.50 -17.45 7.05 22.52 24.59 15.26 18.01 20.92 22.32 23.85 24.71 23.92 Forward Rate of Return
48.40 769 -- -- -- -- -- -- -- -- 1,365 68.89 113 50.64 25.55 15.42 18.50 Shiller PE Ratio
Valuation and Quality
Aug04 Aug05 Aug06 Aug07 Aug08 Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 TTM Fiscal Period
Market Cap
7,038 7,339 12,950 8,678 3,227 6,255 6,424 5,817 6,320 14,173 34,980 17,788 17,150 35,551 60,976 50,069 60,643
6,906 7,215 12,010 11,079 7,456 9,559 7,667 7,040 7,740 17,973 37,827 22,594 23,510 42,127 59,683 48,854 59,216 Enterprise Value
11.51 11.91 17.28 11.45 4.24 7.37 6.46 5.91 6.21 13.57 32.60 16.41 16.49 31.97 52.52 45.27 54.59 Month End Stock Price
-1.49 -1.41 -1.37 -5.87 -7.74 -5.92 -3.78 -4.19 -4.00 -6.58 -6.64 -7.68 -10.64 -10.15 -3.69 -4.57 -5.02 Net Cash (per share)
0.81 1.24 1.33 -2.42 -4.56 -3.73 -0.34 -0.46 -0.85 -1.02 -1.32 -2.99 -5.74 -3.83 4.27 3.16 2.72 Net Current Asset Value (per
share)
-0.07 0.18 0.08 -4.13 -6.89 -5.33 -1.96 -2.29 -2.42 -3.83 -3.73 -5.08 -7.97 -6.39 1.13 -0.37 -0.74 Net-Net Working Capital (per
share)
4.99 5.89 6.78 0.85 -1.92 -0.11 5.40 6.20 5.10 9.48 18.35 23.70 13.65 23.62 48.58 61.64 60.33 Projected FCF (per share)
19.29 19.77 19.21 17.85 18.32 12.27 14.83 14.43 12.59 11.53 18.52 18.09 13.88 20.61 33.18 30.40 28.05 Median PS (per share)
-- -- 10.05 -4.57 -27.99 -- -- 2.30 -26.00 25.00 30.68 31.68 -5.93 108 288 137 77.00 Peter Lynch Fair Value (per
share)
6.87 7.69 11.12 -- -- -- 17.95 5.59 -- 14.60 23.41 24.63 -- 38.95 82.80 62.02 46.75 Graham Number (per share)
-25.13 -29.57 -16.53 -19.98 -24.83 -25.66 -15.48 -20.92 -20.69 -12.79 -6.83 -14.23 -24.73 -10.50 5.70 -0.29 -4.07 Earnings Power Value (EPV)
3.05 3.21 4.12 1.88 0.64 0.62 2.08 1.70 1.24 1.95 3.58 2.61 1.65 3.11 6.47 4.57 4.57 Altman Z-Score
7.00 8.00 7.00 2.00 2.00 2.00 8.00 6.00 3.00 6.00 7.00 5.00 3.00 8.00 8.00 4.00 4.00 Piotroski F-Score
-3.47 -2.91 -2.68 -3.14 -15.41 -4.22 -2.80 -3.00 -3.36 -2.00 -2.63 -2.89 -3.13 -2.36 -2.38 -3.46 -3.40 Beneish M-Score
0.77 0.74 0.90 0.83 0.70 0.62 0.81 0.66 0.62 0.90 0.71 0.76 0.76 0.92 0.88 0.80 0.72 Scaled Net Operating Assets
4.01 0.42 1.19 7.65 -4.06 -21.07 -5.43 -1.86 -5.82 6.74 1.11 16.18 -1.45 12.66 11.41 6.56 -0.06 Sloan Ratio (%)
2.72 2.99 3.07 2.58 2.36 1.77 2.34 2.35 2.57 2.16 2.14 2.20 1.96 2.34 2.79 2.58 2.56 Current Ratio
2.12 2.20 2.49 1.83 1.56 1.25 1.69 1.51 1.76 1.52 1.63 1.60 1.37 1.75 2.16 1.78 1.78 Quick Ratio
17.96 12.76 17.52 18.57 11.79 7.56 11.30 11.80 8.88 14.97 34.64 36.49 19.16 32.50 62.62 52.52 61.19 Highest Stock Price
11.06 9.41 11.62 10.60 4.24 1.69 6.46 5.25 4.33 5.17 13.57 14.27 9.56 16.62 32.07 29.02 32.14 Lowest Stock Price
-0.26 -0.77 -21.62 -1.13 -0.42 -11.51 -17.18 1.03 -3.39 -2.62 -2.74 -1.03 4.06 -6.92 -4.41 4.74 1.07 Shares Buyback Ratio (%)
32.29 11.82 -3.41 1.72 2.23 -20.66 34.57 8.05 -4.75 3.31 59.06 1.35 -13.52 47.14 40.42 -17.19 -29.69 YoY Rev. per Sh. Growth (%)
111 20.83 96.55 -174 -400 -11.90 179 -90.81 -712 209 125 -2.76 -111 1,733 161 -52.13 -74.63 YoY EPS Growth (%)
912 3.58 -1.66 -15.75 -63.73 -6.26 494 -27.89 -42.73 98.80 37.89 11.43 -37.28 176 88.70 -30.19 -51.13 YoY EBITDA Growth (%)
-- -- -- -- 13.33 -37.23 -14.54 15.36 38.53 40.77 12.03 12.88 21.96 25.69 26.11 36.52 30.20 EBITDA 5-Y Growth (%)
640 647 692 769 773 801 888 988 991 1,022 1,060 1,070 1,036 1,089 1,152 1,114 1,107 Shares Outstanding (Basic
Average)
612 616 749 758 761 849 995 984 1,018 1,044 1,073 1,084 1,040 1,112 1,161 1,106 1,111 Shares Outstanding (EOP)
2.67 2.68 2.52 1.68 1.82 0.83 1.04 1.04 1.82 1.91 1.47 1.95 2.06 1.91 1.01 1.85 1.78 Beta
10/15/04 11/04/05 11/08/06 10/28/09 10/28/09 10/26/10 10/25/11 10/29/12 10/28/13 10/27/14 10/27/15 10/28/16 10/26/17 10/15/18 10/17/19 Filing Date
11/04/05 11/08/06 11/08/06 10/28/09 10/26/10 10/25/11 10/28/13 10/27/14 10/27/15 10/28/16 10/26/17 10/15/18 10/17/19 10/17/19 10/17/19 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MU 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MU 7/7
Skyworks Solutions Inc (NAS:SWKS) 03/02/2020 4:00PM EST GuruFocus
Price: $ 104.27 +4.09(+4.08%) Market Cap: $ 17.74 B Enterprise Value: $16.7 B Stock PDF
Financial Strength : 8/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 21.81
Cash to Debt 7.89 Operating margin (%) 27.76
Forward P/E N/A
Equity to Asset 0.84 Net-margin (%) 25.02
PE(NRI) 21.81
Interest Coverage N/A ROE (%) 20.04
F-Score:
P/B 4.17
ROA (%) 17.01
5 P/S 5.46
Z-Score: ROC (Joel Greenblatt) (%) 44.84
15.86 PFCF 22.15
Revenue Growth (3Y)(%) 4.20
M-Score: POCF 14.79
-3.12 EBITDA Growth (3Y)(%) 2.20
EV-to-EBIT 18.23
WACC vs 9.65% EPS Growth (3Y)(%) -1.90
ROIC 26.61% PEG 1.43
WACC
ROIC Shiller P/E 30.02
Current Ratio 7.04
Quick Ratio 5.23
Days Inventory 119.42
Days Sales Outstanding 47.19
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Declined Mar Jun Sep Dec Full Year Skyworks Solutions produces semiconductors for wireless handsets and other devices that are used to enable
wireless connectivity. Its main products include power amplifiers, filters, switches, and integrated front-end modules
2016 775 752 835 914 3,277 that support wireless transmissions. Skyworks' customers are mostly large smartphone manufacturers, but the firm also
Insider Sell: Insider Selling
2017 852 901 985 1,052 3,789 has a growing presence in nonhandset applications such as wireless routers, medical devices, and automobiles....
(Read More)
2018 913 894 1,008 972 3,788
Competitors: TPE:2454 , SHSE:603986 , SHSE:688008 , NAS:XLNX, SHSE:600703 , NAS:MXIM, NAS:MRVL ,
Good Signs 2019 810 767 827 896 3,301 NAS:MCHP, SHSE:603501, TSE:6723, XPAR:STM, NAS:QRVO, TPE:3711, XTER:IFX, HKSE:00981, NAS:CY,
2020 SZSE:300782, TPE:2408, NAS:ON, NAS:MPWR
Interest Coverage:
Comfortable Quarterly Earnings per Share Insider Trades
Operating Margin %: Mar Jun Sep Dec Full Year
Expansion 2016 1.08 0.97 1.31 1.38 4.74
2017 1.20 1.32 1.51 0.38 4.41
2018 1.50 1.57 1.58 1.60 6.25
DCF 2019 1.23 0.83 1.22 1.50 4.78
EPS without NRI: $4.78 2020
Growth Rate in the next 10 Quarterly Dividends Per Share
years: 20%
Terminal Growth Rate for 10 Mar Jun Sep Dec Full Year
years: 4% 2016 0.26 0.26 0.28 0.28 1.08
Fair Value: $136.08 2017 0.28 0.28 0.32 0.32 1.20
2018 0.32 0.32 0.38 0.38 1.40
2019 0.38 0.38 0.44 0.44 1.64
Reverse DCF 2020
Expected eps Growth Rate: Growth Rate
15.97%
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 16.90 9.80 -8.70
EBITDA Growth (%) 27.60 15.20 -14.80
Free Cash Flow Growth (%) 23.60 14.40 -7.80
Book Value Growth (%) 15.40 12.50 7.90
EPS Growth (%) 28.10 12.90 -23.50
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWKS 1/7
Per Share Data
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
5.25 4.99 4.85 4.61 5.22 4.73 5.87 7.44 8.18 9.32 11.90 16.72 17.12 19.56 21.11 19.35 19.09 Revenue per Share
0.56 0.58 0.02 0.67 0.88 0.76 1.39 1.96 1.91 2.37 3.57 6.27 7.14 8.08 8.84 7.62 7.44 EBITDA per Share
0.29 0.32 -0.25 0.40 0.55 0.46 1.09 1.55 1.37 1.83 2.94 5.27 5.85 6.72 7.21 5.50 5.30 EBIT per Share
0.15 0.16 -0.55 0.36 0.68 0.56 0.75 1.19 1.05 1.45 2.38 4.10 5.18 5.41 5.01 4.89 4.78 Earnings per Share (diluted)
0.15 0.16 -0.55 0.36 0.68 0.56 0.75 1.19 1.05 1.45 2.38 4.10 5.18 5.41 5.01 4.89 4.78 eps without NRI
0.18 -0.09 -0.49 0.12 0.52 0.72 0.70 1.32 0.75 1.82 3.15 3.94 4.58 6.44 4.98 5.54 4.60 Owner Earnings per Share (TTM)
0.21 0.10 -0.14 0.26 0.66 1.06 0.73 1.39 1.00 1.96 2.93 2.89 4.59 6.11 4.53 5.41 4.71 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- 0.22 0.65 1.06 1.16 1.34 1.58 1.64 Dividends per Share
4.82 5.00 4.51 4.88 5.70 6.42 7.30 8.63 9.91 11.18 13.39 16.60 19.15 22.21 23.10 24.24 25.03 Book Value per Share
1.46 1.77 1.36 1.81 2.66 3.52 4.54 4.61 5.26 6.58 8.49 11.86 14.07 17.01 15.58 16.61 17.48 Tangible Book per Share
1.80 1.77 1.42 1.86 1.13 0.71 0.42 0.14 -- -- -- -- -- -- -- -- 0.89 Total Debt per Share
9.48 7.02 5.19 9.04 8.36 13.24 20.67 17.96 23.56 24.84 58.05 84.21 76.14 101 90.71 79.25 104 Month End Stock Price
Ratios
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
3.15 3.32 -11.59 7.61 12.83 9.25 11.32 15.49 11.49 13.88 19.76 28.05 29.70 26.56 22.50 20.77 20.04 Return on Equity %
1.98 2.17 -7.74 5.06 9.15 7.34 9.41 13.12 10.03 12.44 17.25 23.85 26.28 23.97 19.54 17.66 17.01 Return on Assets %
16.58 17.60 -13.51 21.31 27.30 30.82 72.62 71.86 47.48 50.79 71.01 97.05 81.77 82.92 75.49 47.97 44.84 Return on Capital %
4.40 3.76 -5.83 7.99 14.08 13.46 15.49 21.22 14.79 17.80 27.62 41.67 40.73 41.09 32.98 27.75 26.61 Return on Invested Capital %
19.85 22.44 15.79 20.25 12.72 9.35 8.80 8.50 11.20 13.72 10.43 7.66 6.23 6.55 6.61 9.31 9.65 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 5.33 4.29 3.77 5.11 -- -- -- -- -- -- -- -- Effective Interest Rate on Debt %
39.95 38.84 33.95 38.74 39.88 39.65 42.62 43.72 42.53 42.78 44.63 47.71 50.63 50.44 50.43 47.49 47.35 Gross Margin %
5.44 6.33 -5.09 8.66 10.57 10.93 18.54 20.98 16.79 19.61 24.68 31.50 34.16 34.35 34.13 28.39 27.76 Operating Margin %
2.86 3.23 -11.39 7.77 12.91 11.83 12.81 15.97 12.88 15.52 19.97 24.50 30.26 27.67 23.74 25.28 25.02 Net Margin %
4.07 2.03 -2.86 5.69 12.66 22.38 12.50 18.69 12.18 20.98 24.60 17.27 26.83 31.25 21.45 27.96 24.59 FCF Margin %
0.37 0.35 0.32 0.38 0.20 0.11 0.06 0.02 -- -- -- -- -- -- -- -- 0.04 Debt to Equity
0.64 0.67 0.67 0.66 0.76 0.82 0.84 0.85 0.89 0.90 0.85 0.85 0.92 0.89 0.85 0.85 0.84 Total Equity to Total Asset
0.24 0.24 0.21 0.25 0.15 0.09 0.05 0.01 -- -- -- -- -- -- -- -- 0.03 Total Debt to Total Asset
27.72 26.12 23.06 25.20 28.27 24.59 31.33 35.91 33.13 34.30 38.54 46.45 43.97 43.70 41.49 33.18 32.19 Gross Profit to Total Asset %
0.69 0.67 0.68 0.65 0.71 0.62 0.74 0.82 0.78 0.80 0.86 0.97 0.87 0.87 0.82 0.70 0.68 Asset Turnover
-- -- -- -- -- -- -- -- -- -- 0.09 0.16 0.21 0.21 0.27 0.32 0.34 Dividend Payout Ratio
73.45 78.98 74.91 82.33 62.27 -- 59.67 45.77 69.25 59.62 50.59 60.27 46.23 45.45 61.88 50.29 47.19 Days Sales Outstanding
56.91 54.44 52.19 45.32 41.32 52.07 66.45 52.69 56.93 45.03 57.71 62.36 24.82 52.12 43.77 39.22 29.09 Days Accounts Payable
53.39 59.12 56.75 65.73 65.62 71.55 62.66 73.87 87.27 82.30 71.96 57.70 77.76 92.53 93.63 113 119 Days Inventory
69.93 83.66 79.47 103 86.57 19.48 55.88 66.95 99.59 96.89 64.84 55.61 99.17 85.86 112 124 138 Cash Conversion Cycle
6.84 6.17 6.43 5.55 5.56 5.10 5.83 4.94 4.18 4.44 5.07 6.33 4.69 3.94 3.90 3.22 3.06 Inventory Turnover
0.60 0.61 0.66 0.61 0.60 0.60 0.57 0.56 0.57 0.57 0.55 0.52 0.49 0.50 0.50 0.53 0.53 COGS to Revenue
0.09 0.10 0.10 0.11 0.11 0.12 0.10 0.11 0.14 0.13 0.11 0.08 0.11 0.13 0.13 0.16 0.17 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWKS 2/7
Income Statement
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
784 792 774 742 860 803 1,072 1,419 1,569 1,792 2,292 3,258 3,289 3,651 3,868 3,377 3,301 Revenue
471 485 511 454 517 484 615 799 902 1,025 1,269 1,704 1,624 1,810 1,917 1,773 1,738 Cost of Goods Sold
313 308 263 287 343 318 457 620 667 767 1,023 1,555 1,665 1,842 1,951 1,604 1,563 Gross Profit
39.95 38.84 33.95 38.74 39.88 39.65 42.62 43.72 42.53 42.78 44.63 47.71 50.63 50.44 50.43 47.49 47.35 Gross Margin %
97.52 103 136 94.95 100 100 118 137 158 160 179 191 196 205 208 198 206 Selling, General, & Admin. Expense
153 152 164 126 146 124 134 169 213 226 252 303 312 355 405 424 423 Research & Development
20.41 2.35 2.14 2.14 6.01 6.12 6.14 16.70 32.80 29.10 25.90 33.50 33.40 27.60 18.30 22.60 18.30 Other Operating Expense
42.65 50.13 -39.37 64.22 90.94 87.69 199 298 263 352 566 1,027 1,124 1,254 1,320 959 916 Operating Income
5.44 6.33 -5.09 8.66 10.57 10.93 18.54 20.98 16.79 19.61 24.68 31.50 34.16 34.35 34.13 28.39 27.76 Operating Margin %
-- -- -- -- -- -8.29 -4.25 -1.90 -0.67 -- -- -- -- -- -- -- -- Interest Expense
-- -- -- -- -- -8.29 -4.25 -1.90 -0.67 -- -- -- -- -- -- -- -- Net Interest Income
-16.26 -9.14 -33.40 -7.45 -8.75 -9.64 0.62 -1.90 -7.83 -7.00 -0.30 -2.90 77.10 2.60 12.00 2.20 -0.30 Other Income (Expense)
26.40 40.99 -72.77 56.77 82.19 69.76 195 294 255 345 565 1,024 1,201 1,257 1,332 961 916 Pre-Tax Income
-3.98 -15.38 -15.38 0.88 28.82 25.23 -57.78 -67.30 -52.90 -66.40 -108 -225 -205 -247 -414 -107 -90.10 Tax Provision
15.09 37.52 -21.13 -1.55 -35.06 -36.16 29.62 22.90 20.75 19.27 19.02 22.01 17.11 19.63 31.06 11.18 9.84 Tax Rate %
22.41 25.61 -88.15 57.65 111 94.98 137 227 202 278 458 798 995 1,010 918 854 826 Net Income (Continuing Operations)
22.41 25.61 -88.15 57.65 111 94.98 137 227 202 278 458 798 995 1,010 918 854 826 Net Income
2.86 3.23 -11.39 7.77 12.91 11.83 12.81 15.97 12.88 15.52 19.97 24.50 30.26 27.67 23.74 25.28 25.02 Net Margin %
0.15 0.16 -0.55 0.36 0.69 0.57 0.78 1.24 1.09 1.48 2.44 4.21 5.27 5.48 5.06 4.92 4.80 EPS (Basic)
0.15 0.16 -0.55 0.36 0.68 0.56 0.75 1.19 1.05 1.45 2.38 4.10 5.18 5.41 5.01 4.89 4.78 EPS (Diluted)
149 159 159 161 165 170 183 191 192 192 193 195 192 187 183 175 172 Shares Outstanding (Diluted
Average)
41.05 41.23 42.35 43.69 53.40 50.53 55.40 78.00 103 103 123 196 248 255 299 372 370 Depreciation, Depletion and
Amortization
83.70 91.36 2.98 108 144 129 255 374 366 455 688 1,222 1,371 1,509 1,619 1,330 1,286 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWKS 3/7
Balance Sheet
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
124 117 137 242 225 364 453 410 307 511 806 1,044 1,084 1,617 733 851 928 Cash And Cash Equivalents
85.03 113 28.15 5.70 -- -- -- -- -- -- -- -- -- -- 294 203 262 Marketable Securities
209 230 165 247 225 364 453 410 307 511 806 1,044 1,084 1,617 1,027 1,055 1,190 Cash, Cash Equivalents, Marketable
Securities
158 171 159 167 147 -- 175 178 298 293 318 538 417 455 656 465 427 Accounts Receivable
12.18 8.08 9.48 6.62 8.01 9.89 16.11 18.57 27.20 25.20 45.40 30.00 18.50 24.60 20.20 24.40 22.80 Inventories, Raw Materials &
Components
50.72 49.33 52.10 48.13 64.31 56.07 74.70 92.60 111 128 146 192 256 331 341 336 377 Inventories, Work In Process
16.68 19.99 19.96 27.36 31.48 20.13 34.25 87.02 94.50 76.00 79.50 45.50 150 138 129 249 205 Inventories, Finished Goods
-- -- -- -0.00 -- -- -- -- -- -- -- -- -- -0.00 -- 0.00 -- Inventories, Other
79.57 77.40 81.53 82.11 104 86.10 125 198 233 230 271 268 424 494 490 610 604 Total Inventories
17.98 17.28 15.62 17.01 19.05 24.78 36.32 30.12 45.70 40.00 35.00 65.20 77.70 68.70 88.80 105 125 Other Current Assets
464 496 421 514 495 590 790 816 883 1,073 1,429 1,915 2,002 2,634 2,262 2,235 2,347 Total Current Assets
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 22.80 27.60 38.20 Investments And Advances
13.53 9.42 13.41 13.82 14.41 9.42 10.08 11.02 12.00 12.20 11.60 11.60 11.60 11.60 11.60 11.70 11.80 Land And Improvements
50.31 63.87 55.98 39.73 39.71 39.99 47.73 53.40 57.00 60.30 90.70 102 134 138 238 354 392 Buildings And Improvements
336 317 309 368 407 418 480 595 649 692 980 1,312 1,563 1,745 2,121 2,345 2,385 Machinery, Furniture, Equipment
5.39 14.31 22.56 12.67 29.85 19.21 28.90 13.93 36.90 95.30 95.00 160 59.90 165 179 173 157 Construction In Progress
405 405 401 434 491 492 567 673 755 859 1,177 1,585 1,768 2,059 2,550 2,884 3,105 Gross Property, Plant and Equipment
-261 -261 -250 -281 -318 -329 -362 -422 -475 -531 -621 -759 -962 -1,177 -1,409 -1,678 -1,755 Accumulated Depreciation
144 144 150 154 173 162 204 251 279 329 556 826 806 882 1,141 1,206 1,350 Property, Plant and Equipment
524 511 509 494 503 501 498 750 895 865 926 902 940 951 1,334 1,298 1,286 Intangible Assets
-- -- 493 481 484 483 486 663 801 801 851 857 873 883 1,190 1,190 1,190 Goodwill
37.02 36.53 10.30 28.34 64.67 99.03 71.73 72.84 79.40 65.90 62.70 76.60 107 107 69.50 74.10 70.80 Other Long Term Assets
1,169 1,188 1,090 1,190 1,236 1,353 1,564 1,890 2,137 2,333 2,974 3,719 3,855 4,574 4,829 4,840 5,092 Total Assets
73.41 72.28 73.07 56.42 58.53 69.10 112 115 141 127 201 291 110 258 230 191 139 Accounts Payable
110 91.96 98.37 84.81 90.64 98.55 112 115 141 127 201 291 110 258 230 191 139 Accounts Payable & Accrued
Expense
50.00 50.00 50.00 99.34 50.00 81.87 50.00 26.09 -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
21.22 16.28 27.25 13.08 8.10 15.83 42.36 106 42.10 53.20 97.00 173 99.80 130 160 184 195 Other Current Liabilities
181 158 176 197 149 196 204 247 183 180 298 464 210 388 390 374 333 Total Current Liabilities
230 230 179 200 138 41.48 24.74 -- -- -- -- -- -- -- -- -- -- Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 151 Capital Lease Obligation
230 230 179 200 138 41.48 24.74 -- -- -- -- -- -- -- -- -- 151 Long-Term Debt & Capital Lease
Obligation
0.37 0.35 0.32 0.38 0.20 0.11 0.06 0.02 -- -- -- -- -- -- -- -- 0.04 Debt to Equity
-- -- -- -- -- -- -- -- 41.80 45.90 41.60 71.00 71.80 92.90 311 312 310 NonCurrent Deferred Liabilities
5.93 7.04 6.45 6.34 5.53 6.09 18.39 34.20 6.60 6.40 102 25.30 32.00 27.10 31.70 30.90 30.90 Other Long-Term Liabilities
417 395 361 404 292 244 247 281 231 232 441 560 314 508 732 717 825 Total Liabilities
39.00 39.66 40.41 40.28 41.40 43.20 45.07 46.60 48.10 47.00 47.30 47.60 46.20 45.80 44.40 42.50 42.60 Common Stock
-599 -574 -662 -604 -493 -465 -328 -101 101 379 795 1,469 2,264 3,060 3,733 4,313 4,495 Retained Earnings
-0.79 -1.14 -0.60 -0.21 -1.18 -1.38 -1.30 -1.33 -1.60 -0.90 -4.90 -8.20 -10.90 -8.50 -8.80 -7.90 -8.00 Accumulated other comprehensive
income (loss)
1,313 1,328 1,351 1,382 1,431 1,568 1,641 1,796 1,920 2,041 2,248 2,495 2,686 2,894 3,061 3,188 3,252 Additional Paid-In Capital
-- -- -0.17 -31.86 -33.92 -36.31 -40.72 -131 -162 -365 -553 -845 -1,444 -1,925 -2,733 -3,413 -3,514 Treasury Stock
752 793 729 786 944 1,109 1,317 1,609 1,906 2,101 2,532 3,159 3,541 4,066 4,097 4,122 4,267 Total Equity
0.64 0.67 0.67 0.66 0.76 0.82 0.84 0.85 0.89 0.90 0.85 0.85 0.92 0.89 0.85 0.85 0.84 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWKS 4/7
Cashflow Statement
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
22.41 25.61 -88.15 57.65 111 94.98 137 227 202 278 458 798 995 1,010 918 854 826 Net Income
22.41 25.61 -88.15 57.65 111 94.98 137 227 202 278 458 798 995 1,010 918 854 826 Net Income From Continuing
Operations
41.05 41.23 42.35 43.69 53.40 50.53 55.40 78.00 103 103 123 196 248 255 299 372 370 Depreciation, Depletion and
Amortization
-13.88 -18.81 -18.18 -10.72 21.22 29.95 -60.20 12.90 -109 4.90 -12.40 -222 121 -37.10 -194 191 97.60 Change In Receivables
-21.40 2.17 -3.45 -0.25 -16.08 15.68 -38.82 -49.70 -19.30 3.40 -6.10 3.60 -147 -69.20 11.90 -120 -107 Change In Inventory
23.04 -1.13 0.80 -16.65 2.11 9.22 42.87 -14.30 15.20 -14.10 74.20 90.50 -182 148 -126 -33.00 -17.50 Change In Payables And Accrued
Expense
4.95 -42.59 -7.71 -39.97 5.06 48.36 -54.73 -10.90 -109 26.20 125 -61.30 -200 142 -79.50 54.50 -77.40 Change In Working Capital
3.06 3.25 16.55 -1.74 -36.65 -24.87 38.54 12.40 12.90 13.70 3.30 -3.90 -- 2.20 27.30 -6.10 -7.00 Change In DeferredTax
-- -- -- -- -- 23.47 40.74 58.30 72.20 71.70 86.00 99.80 78.00 88.50 108 80.10 92.90 Stock Based Compensation
20.45 26.70 64.19 25.15 40.86 17.25 5.71 1.40 4.40 6.60 -22.70 -35.90 -43.40 -41.80 -12.60 13.70 12.70 Cash Flow from Others
91.91 54.20 27.23 84.78 174 219 223 366 285 500 772 993 1,078 1,456 1,261 1,367 1,217 Cash Flow from Operations
-60.00 -38.14 -49.36 -42.60 -64.83 -39.17 -88.93 -101 -94.10 -124 -209 -430 -195 -315 -431 -423 -405 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -10.36 -6.40 -249 -230 -- -149 -24.60 -55.60 -13.70 -404 -- -- Purchase Of Business
-1,130 -1,251 -1,010 -956 -7.50 -- -- -- -- -- -- -- -- -- -684 -361 -490 Purchase Of Investment
1,049 1,223 1,095 978 10.00 -- -- -- 20.90 0.80 -- -- -- 3.20 368 447 206 Sale Of Investment
-- -- -- -- -- -- -- -- -- -- -- -- -6.00 -12.10 -8.60 -25.00 -25.00 Net Intangibles Purchase And Sale
-0.00 -- 6.57 -- -32.63 -0.00 0.00 0.00 -0.00 -0.00 -0.00 0.00 6.00 12.10 8.60 25.00 25.00 Cash From Other Investing Activities
-141 -66.42 42.38 -20.15 -94.96 -49.53 -95.33 -350 -303 -123 -357 -455 -251 -326 -1,150 -337 -689 Cash Flow from Investing
3.51 5.24 1.75 8.27 18.05 -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -0.17 -31.68 -2.06 -2.39 -4.41 -90.10 -31.00 -204 -188 -292 -599 -482 -808 -680 -478 Repurchase of Stock
8.32 -- -50.67 70.00 -112 -66.54 -80.71 -50.00 -48.10 -- -- -- -- -- -- -- -- Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -41.40 -123 -201 -215 -243 -274 -282 Cash Flow for Dividends
-0.70 -- -0.29 -6.39 0.54 38.77 46.52 75.60 -7.00 30.80 109 114 13.30 98.70 57.00 41.80 74.30 Other Financing
11.13 5.24 -49.38 40.20 -95.19 -30.16 -38.60 -64.50 -86.10 -173 -121 -300 -787 -597 -994 -913 -685 Cash Flow from Financing
-38.00 -6.98 20.23 105 -16.47 139 89.04 -48.60 -104 204 295 238 40.20 533 -884 118 -158 Net Change in Cash
-60.00 -38.14 -49.36 -42.60 -64.83 -39.17 -88.93 -101 -94.10 -124 -209 -430 -195 -315 -431 -423 -405 Capital Expenditure
31.92 16.06 -22.13 42.18 109 180 134 265 191 376 564 563 882 1,141 830 944 812 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWKS 5/7
Valuation Ratios
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
64.21 41.89 -- 25.11 12.29 23.64 27.56 15.09 22.23 17.25 24.49 20.54 14.70 18.71 18.03 16.24 21.81 PE Ratio(TTM)
51.80 -- -- 78.61 16.02 18.29 29.61 13.66 31.62 13.65 18.46 21.39 16.61 15.73 18.22 14.30 22.66 Price to Owner Earnings
(TTM)
1.97 1.41 1.15 1.85 1.47 2.06 2.83 2.08 2.38 2.22 4.34 5.07 3.98 4.56 3.93 3.27 4.17 Price to Book
6.51 3.96 3.81 4.99 3.14 3.77 4.55 3.90 4.48 3.78 6.84 7.10 5.41 5.95 5.82 4.77 5.96 Price to Tangible Book
44.51 68.16 -- 34.64 12.71 12.54 28.12 12.94 23.56 12.71 19.83 29.14 16.52 16.57 20.13 14.69 22.15 Price-to-Free-Cash-Flow
Ratio
15.46 20.59 30.17 17.19 7.94 10.29 16.96 9.37 15.82 9.56 14.48 16.52 13.54 12.98 13.22 10.14 14.79 Price-to-Operating-Cash-
Flow Ratio
1.82 1.41 1.07 1.97 1.60 2.80 3.53 2.41 2.88 2.66 4.88 5.04 4.45 5.18 4.30 4.10 5.46 PS Ratio
-- -- -- -- 0.40 1.81 0.60 0.18 0.76 0.61 0.91 0.70 0.38 0.47 0.59 1.15 1.43 PEG Ratio
1.98 1.47 1.17 2.03 1.57 2.55 3.12 2.09 2.69 2.32 4.44 4.60 3.95 4.63 3.89 3.68 5.06 EV-to-Revenue
18.52 12.74 303 13.98 9.33 15.92 13.14 7.93 11.53 9.14 14.79 12.26 9.48 11.21 9.30 9.34 12.99 EV-to-EBITDA
36.35 23.21 -22.95 23.49 14.81 26.23 16.79 10.02 16.03 11.82 18.00 14.59 11.57 13.49 11.41 12.96 18.23 EV-to-EBIT
2.75 4.31 -4.36 4.26 6.75 3.81 5.96 9.98 6.24 8.46 5.56 6.85 8.64 7.41 8.76 7.72 5.49 Return on Capital %
-4.22 -5.16 -8.09 -0.82 21.92 15.97 22.37 24.41 24.00 24.88 22.74 22.35 23.49 23.50 24.55 19.95 14.78 Forward Rate of Return
-- -- -- -- -- -- -- -- 510 40.82 69.14 68.38 41.61 42.41 31.72 23.71 30.02 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- 0.38 0.77 1.39 1.15 1.48 1.99 1.62 Dividend Yield %
Valuation and Quality
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
1,479 1,114 839 1,456 1,384 2,288 3,726 3,347 4,530 4,667 10,983 16,025 14,078 18,537 16,092 13,480 17,742 Market Cap
1,550 1,164 903 1,508 1,347 2,047 3,348 2,963 4,223 4,156 10,177 14,982 12,994 16,920 15,065 12,426 16,703 Enterprise Value
9.48 7.02 5.19 9.04 8.36 13.24 20.67 17.96 23.56 24.84 58.05 84.21 76.14 101 90.71 79.25 104 Month End Stock Price
-1.34 -1.04 -1.22 -0.97 -0.40 0.70 1.14 0.69 0.40 1.49 1.93 2.54 4.16 6.06 1.67 1.98 2.15 Net Cash (per share)
0.30 0.63 0.37 0.68 1.22 2.00 3.01 2.87 3.39 4.48 5.22 7.12 9.13 11.61 8.63 8.92 8.93 Net Current Asset Value
(per share)
-0.32 0.01 -0.23 0.06 0.57 0.95 2.22 1.94 2.16 3.26 3.90 5.36 7.00 9.27 5.82 5.83 5.80 Net-Net Working Capital (per
share)
1.36 2.28 1.91 2.57 5.07 8.20 9.64 13.31 19.63 25.15 32.31 39.57 52.28 67.06 78.06 88.43 85.01 Projected FCF (per share)
14.33 13.71 13.26 11.08 10.12 8.83 10.94 13.89 15.63 18.70 28.76 46.17 52.72 67.56 80.42 77.08 78.72 Median PS (per share)
-- -- -6.17 -- 17.00 7.31 18.75 29.75 26.50 36.00 59.25 103 130 135 126 69.05 48.66 Peter Lynch Fair Value (per
share)
2.22 2.53 -- 3.83 6.38 6.66 8.75 11.11 11.15 14.65 21.32 33.08 40.49 45.51 41.91 42.74 43.36 Graham Number (per share)
-4.78 -4.96 -5.33 -0.60 1.60 3.65 5.51 8.34 9.45 11.80 15.20 19.79 27.29 38.71 43.12 48.40 49.19 Earnings Power Value
(EPV)
2.44 2.14 1.30 2.55 3.54 6.28 10.30 8.69 13.35 14.01 17.16 19.97 30.16 25.13 16.45 14.34 15.86 Altman Z-Score
7.00 6.00 3.00 7.00 8.00 4.00 8.00 7.00 5.00 9.00 7.00 7.00 7.00 6.00 5.00 6.00 5.00 Piotroski F-Score
-2.60 -2.51 -2.93 -2.61 -2.68 -3.80 -2.46 -2.63 -1.95 -2.90 -2.99 -2.33 -2.74 -3.08 -2.29 -3.26 -3.12 Beneish M-Score
0.76 0.72 0.67 0.77 0.76 0.70 0.69 0.78 0.85 0.74 0.74 0.71 0.66 0.64 0.67 0.64 0.67 Scaled Net Operating
Assets
6.12 3.19 -14.47 -0.59 2.61 -5.49 0.62 11.15 10.28 -4.23 1.43 7.00 4.37 -2.63 16.74 -3.66 5.85 Sloan Ratio (%)
2.56 3.13 2.40 2.60 3.33 3.01 3.87 3.30 4.83 5.97 4.80 4.13 9.52 6.79 5.80 5.97 7.04 Current Ratio
2.12 2.65 1.93 2.19 2.63 2.57 3.25 2.50 3.56 4.70 3.89 3.55 7.51 5.52 4.55 4.34 5.23 Quick Ratio
12.46 10.91 7.87 9.44 11.20 14.28 21.09 36.98 31.18 26.33 58.84 111 87.92 111 116 93.56 128 Highest Stock Price
6.98 5.07 4.07 5.06 6.71 3.81 10.27 17.96 14.04 19.80 23.71 45.32 55.85 71.78 84.37 60.72 66.29 Lowest Stock Price
-4.99 -1.67 -1.91 0.35 -2.79 -4.36 -4.31 -3.40 -3.17 2.29 -0.69 -0.58 2.84 0.97 3.11 4.11 2.07 Shares Buyback Ratio (%)
18.36 -4.94 -2.69 -5.13 13.36 -9.39 24.00 26.85 9.92 14.01 27.61 40.51 2.41 14.23 7.96 -8.35 -8.75 YoY Rev. per Sh. Growth
(%)
105 6.67 -444 165 88.89 -17.65 33.93 58.67 -11.76 38.10 64.14 72.27 26.34 4.44 -7.39 -2.40 -23.52 YoY EPS Growth (%)
689 2.68 -96.70 3,426 30.75 -13.47 83.91 40.60 -2.60 23.99 50.95 75.51 13.83 13.25 9.34 -13.75 -14.79 YoY EBITDA Growth (%)
-- -- -- -- 30.55 13.06 45.81 81.67 29.06 28.17 26.94 29.29 38.33 39.64 30.41 14.15 15.20 EBITDA 5-Y Growth (%)
149 157 159 160 162 167 175 183 186 188 187 190 189 184 181 174 170 Shares Outstanding (Basic
Average)
156 159 162 161 166 173 180 186 192 188 189 190 185 183 177 170 170 Shares Outstanding (EOP)
3.27 3.99 2.68 3.21 1.87 1.06 1.07 1.12 1.60 1.85 1.32 0.93 0.77 0.70 0.59 1.27 1.42 Beta
12/13/04 12/14/05 12/13/06 11/27/07 12/02/08 11/30/09 11/29/10 11/28/11 11/21/12 11/18/13 11/25/14 11/24/15 11/22/16 11/13/17 11/15/18 11/14/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWKS 6/7
12/14/05 12/14/05 12/13/06 11/27/07 12/02/08 11/28/11 11/21/12 11/18/13 11/25/14 11/24/15 11/22/16 11/13/17 11/15/18 11/14/19 11/14/19 11/14/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWKS 7/7
Advanced Micro Devices Inc (NAS:AMD) 03/02/2020 4:00PM EST GuruFocus
Price: $ 47.46 +1.98(+4.35%) Market Cap: $ 55.51 B Enterprise Value: $54.74 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 158.20
Cash to Debt 2.07 Operating margin (%) 9.37
Forward P/E N/A
Equity to Asset 0.47 Net-margin (%) 5.07
PE(NRI) 158.20
Interest Coverage 6.71 ROE (%) 17.12
F-Score:
P/B 19.64
ROA (%) 6.59
6 P/S 7.92
Z-Score: ROC (Joel Greenblatt) (%) 34.01
10.57 PFCF 207.25
Revenue Growth (3Y)(%) 5.10
M-Score: POCF 112.46
-2.08
EV-to-EBIT 117.46
WACC vs 19.96%
ROIC 30.50% Current Ratio 1.95
WACC
ROIC Quick Ratio 1.53
Days Inventory 91.41
Days Sales Outstanding 100.81
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Advanced Micro Devices designs and produces microprocessors for the computer and consumer electronics
industries. The majority of the firm's sales are in the computer market via CPUs and GPUs. AMD acquired graphics
2016 832 1,027 1,307 1,153 4,319 processor and chipset maker ATI in 2006 in an effort to improve its positioning in the PC food chain. In 2009, the firm
2017 1,178 1,151 1,584 1,340 5,253 spun out its manufacturing operations to form a foundry joint venture, GlobalFoundries.... (Read More)
DCF 2018 1,647 1,756 1,653 1,419
, , , ,
6,475 Competitors: NAS:MU XKRX:000660 NAS:ADI NAS:NXPI XTER:IFX XPAR:STM SHSE:603501
, , ,
NAS:MCHP, NAS:QCOM, NAS:XLNX, TPE:2454, NAS:SWKS, SHSE:603986, SHSE:688008, SHSE:600703,
GuruFocus does not 2019 1,272 1,531 1,801 2,127 6,731 NAS:MXIM, NAS:MRVL, TSE:6723, NAS:QRVO, TPE:3711
calculate intrinsic value: DCF 2020
(Earnings Based) for Insider Trades
Quarterly Earnings per Share
companies with one star
predictability or not rated. But Mar Jun Sep Dec Full Year
you can go to each stock's 2016 -0.14 0.08 -0.50 -0.06 -0.62
DCF page to calculate 2017 -0.04 -0.04 0.06 0.06 0.04
yourself. 2018 0.08 0.11 0.09 0.04 0.32
2019 0.01 0.03 0.11 0.15 0.30
2020
Reverse DCF
Quarterly Dividends Per Share
GuruFocus does not
calculate reverse DCF growth Mar Jun Sep Dec Full Year
rate for companies with one 2016 0.00 0.00 0.00 0.00 0.00
star predictability or not rated. 2017 0.00 0.00 0.00 0.00 0.00
But you can go to each 2018 0.00 0.00 0.00 0.00 0.00
stock's DCF page to calculate 2019 0.00 0.00 0.00 0.00 0.00
yourself. 2020
Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) -4.70 -0.80 -1.20
EBITDA Growth (%) 0.00 0.00 10.60
Free Cash Flow Growth (%) 0.00 0.00 0.00
Book Value Growth (%) 0.00 0.00 91.70
EPS Growth (%) 0.00 0.00 -6.30
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMD 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
13.48 13.27 11.44 10.50 9.57 7.97 8.86 8.85 7.32 7.03 7.17 5.10 5.17 5.52 6.09 6.01 5.99 Revenue per Share
3.91 3.29 2.21 -2.10 -1.20 2.91 2.12 0.67 -1.06 0.45 -0.02 -0.41 -0.19 0.28 0.58 0.65 0.64 EBITDA per Share
0.61 0.53 0.81 -4.14 -3.22 1.25 1.60 0.24 -1.41 0.14 -0.29 -0.62 -0.35 0.12 0.42 0.42 0.41 EBIT per Share
0.25 0.40 -0.34 -6.06 -5.15 0.45 0.64 0.66 -1.60 -0.11 -0.53 -0.84 -0.60 -0.03 0.32 0.30 0.30 Earnings per Share (diluted)
0.25 0.40 -0.28 -5.07 -4.03 0.45 0.64 0.67 -1.60 -0.11 -0.53 -0.84 -0.60 -0.03 0.32 0.30 0.30 eps without NRI
1.01 1.36 -0.66 -5.84 -5.57 -0.52 -1.93 0.03 -1.42 -0.66 -0.80 -0.64 -0.30 -0.22 -0.29 -0.04 -0.04 Owner Earnings per Share (TTM)
-0.95 -0.07 -1.16 -3.58 -2.17 0.01 -0.76 0.18 -0.64 -0.31 -0.25 -0.41 0.01 -0.11 -0.12 0.25 0.23 Free Cashflow per Share
7.68 7.70 10.58 4.93 0.21 0.97 1.48 2.28 0.76 0.75 0.24 -0.52 0.45 0.62 1.26 2.42 2.42 Book Value per Share
7.68 7.70 2.49 2.05 -0.60 0.34 0.96 1.80 -0.37 -0.51 -0.54 -1.11 -0.11 0.07 0.75 1.99 1.99 Tangible Book per Share
4.75 3.15 6.94 8.70 7.85 7.05 3.55 2.89 2.86 2.84 2.85 2.82 1.54 1.44 1.24 0.62 0.62 Total Debt per Share
22.02 30.60 20.35 7.50 2.16 9.68 8.18 5.40 2.40 3.87 2.67 2.87 11.34 10.28 18.46 45.86 47.46 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3.35 5.20 -3.63 -77.01 -201 78.45 56.71 37.73 -111 -15.34 -110 -- -24,900 -6.52 36.20 16.66 17.12 Return on Equity %
1.22 2.19 -1.62 -27.36 -32.56 4.49 6.71 9.90 -26.42 -1.99 -9.95 -19.27 -15.55 -0.96 8.31 6.44 6.59 Return on Assets %
5.12 6.29 11.93 -51.39 -42.00 20.88 48.02 18.18 -133 16.71 -33.74 -75.64 -82.07 54.76 78.37 39.37 34.01 Return on Capital %
4.96 6.32 10.94 -31.19 -15.05 12.42 19.88 -80.21 -54.36 6.18 10.54 -29.98 -51.17 59.26 42.78 33.91 30.50 Return on Invested Capital %
19.38 21.21 26.84 13.63 9.10 13.35 12.01 12.21 11.80 13.32 12.90 9.84 17.58 18.32 28.74 20.83 19.96 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 7.78 9.21 5.56 8.11 8.62 8.63 8.29 7.19 8.50 8.90 9.15 9.50 8.23 Effective Interest Rate on Debt %
39.37 40.90 49.65 37.37 39.94 42.05 45.60 44.76 22.78 37.33 33.40 27.06 23.22 34.02 37.79 42.61 42.61 Gross Margin %
4.52 3.96 7.09 -39.43 -13.36 12.29 8.64 7.10 -17.63 1.60 2.71 -8.82 -8.87 2.42 6.97 9.37 9.37 Operating Margin %
1.82 2.83 -2.95 -57.68 -53.87 6.96 7.25 7.48 -21.82 -1.57 -7.32 -16.54 -11.53 -0.63 5.20 5.07 5.07 Net Margin %
-7.07 -0.52 -10.13 -34.06 -22.66 0.13 -8.62 2.01 -8.69 -4.38 -3.51 -8.07 0.09 -1.92 -1.99 4.10 4.10 FCF Margin %
0.62 0.41 0.66 1.76 37.61 7.30 2.39 1.27 3.80 3.78 11.83 -5.43 3.45 2.34 0.99 0.26 0.26 Debt to Equity
0.38 0.46 0.44 0.26 0.02 0.07 0.20 0.32 0.14 0.13 0.05 -0.13 0.13 0.17 0.28 0.47 0.47 Total Equity to Total Asset
0.24 0.19 0.29 0.46 0.62 0.52 0.49 0.41 0.51 0.48 0.59 0.73 0.43 0.39 0.27 0.12 0.12 Total Debt to Total Asset
26.44 31.61 27.35 17.73 24.14 27.13 42.17 59.29 27.59 47.45 45.38 31.53 31.32 52.00 60.36 54.20 55.43 Gross Profit to Total Asset %
0.67 0.77 0.55 0.47 0.60 0.65 0.93 1.32 1.21 1.27 1.36 1.17 1.35 1.53 1.60 1.27 1.30 Asset Turnover
53.82 50.28 73.95 39.88 20.11 50.33 54.41 51.07 42.41 57.31 54.23 48.75 26.28 31.55 69.62 101 101 Days Sales Outstanding
78.85 90.39 172 100 66.03 75.42 60.02 36.52 24.23 57.04 41.31 34.98 48.43 40.44 75.57 93.35 93.35 Days Accounts Payable
94.63 66.72 77.47 80.78 76.70 71.29 61.94 55.74 45.24 79.46 78.09 85.45 78.65 76.09 69.73 86.31 91.41 Days Inventory
69.60 26.61 -20.97 20.28 30.78 46.20 56.33 70.29 63.42 79.73 91.01 99.22 56.50 67.20 63.78 93.77 98.87 Cash Conversion Cycle
3.86 5.47 4.71 4.52 4.76 5.12 5.89 6.55 8.07 4.59 4.67 4.27 4.64 4.80 5.23 4.23 3.99 Inventory Turnover
0.61 0.59 0.50 0.63 0.60 0.58 0.54 0.55 0.77 0.63 0.67 0.73 0.77 0.66 0.62 0.57 0.57 COGS to Revenue
0.16 0.11 0.11 0.14 0.13 0.11 0.09 0.08 0.10 0.14 0.14 0.17 0.17 0.14 0.12 0.14 0.14 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMD 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5,001 5,848 5,627 5,858 5,808 5,403 6,494 6,568 5,422 5,299 5,506 3,991 4,319 5,253 6,475 6,731 6,731 Revenue
3,033 3,456 2,833 3,669 3,488 3,131 3,533 3,628 4,187 3,321 3,667 2,911 3,316 3,466 4,028 3,863 3,863 Cost of Goods Sold
1,969 2,392 2,794 2,189 2,320 2,272 2,961 2,940 1,235 1,978 1,839 1,080 1,003 1,787 2,447 2,868 2,868 Gross Profit
39.37 40.90 49.65 37.37 39.94 42.05 45.60 44.76 22.78 37.33 33.40 27.06 23.22 34.02 37.79 42.61 42.61 Gross Margin %
807 1,016 1,138 1,360 1,304 994 934 992 823 674 604 482 466 516 562 750 750 Selling, General, & Admin. Expense
935 1,144 1,190 1,771 1,848 1,721 1,405 1,453 1,354 1,201 1,072 947 1,008 1,196 1,434 1,547 1,547 Research & Development
1.00 -0.00 67.00 1,368 -56.00 -1,107 61.00 29.00 14.00 18.00 14.00 3.00 -88.00 -52.00 -- -60.00 -60.00 Other Operating Expense
226 232 399 -2,310 -776 664 561 466 -956 85.00 149 -352 -383 127 451 631 631 Operating Income
4.52 3.96 7.09 -39.43 -13.36 12.29 8.64 7.10 -17.63 1.60 2.71 -8.82 -8.87 2.42 6.97 9.37 9.37 Operating Margin %
-- -- -- -- 39.00 16.00 11.00 10.00 8.00 5.00 -- -- 2.00 6.00 18.00 15.00 -- Interest Income
-- -- -- -- -391 -438 -199 -180 -175 -177 -177 -160 -156 -126 -121 -94.00 -94.00 Interest Expense
-- -- -- -- -352 -422 -188 -170 -167 -177 -177 -160 -154 -120 -103 -79.00 -79.00 Net Interest Income
-148 -91.39 -439 -301 -1,216 166 598 -297 -94.00 18.00 -370 -134 88.00 -15.00 -18.00 -180 -180 Other Income (Expense)
18.66 125 -28.00 -35.00 -33.00 83.00 -- -- -- -- -- -- -- -- -- -- -- Other Income (Minority Interest)
78.33 140 -40.00 -2,611 -2,344 408 971 -1.00 -1,217 -74.00 -398 -646 -449 -8.00 330 372 372 Pre-Tax Income
-5.84 6.64 -23.00 -27.00 -68.00 -112 -38.00 4.00 34.00 -9.00 -5.00 -14.00 -39.00 -18.00 9.00 -31.00 -31.00 Tax Provision
7.45 -4.74 -57.50 -1.03 -2.90 27.45 3.91 400 2.79 -12.16 -1.26 -2.17 -8.69 -225 -2.73 8.33 8.33 Tax Rate %
91.16 165 -136 -2,828 -2,412 296 471 495 -1,183 -83.00 -403 -660 -498 -33.00 337 341 341 Net Income (Continuing Operations)
-- -- -30.00 -551 -684 -3.00 -- -4.00 -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
91.16 165 -166 -3,379 -3,129 376 471 491 -1,183 -83.00 -403 -660 -498 -33.00 337 341 341 Net Income
1.82 2.83 -2.95 -57.68 -53.87 6.96 7.25 7.48 -21.82 -1.57 -7.32 -16.54 -11.53 -0.63 5.20 5.07 5.07 Net Margin %
-- -- -- -- -- 72.00 -- -- -- -- -- -- -- -- -- -- -- Preferred dividends
0.25 0.41 -0.34 -6.06 -5.15 0.46 0.66 0.68 -1.60 -0.11 -0.53 -0.84 -0.60 -0.03 0.34 0.31 0.30 EPS (Basic)
0.25 0.40 -0.34 -6.06 -5.15 0.45 0.64 0.66 -1.60 -0.11 -0.53 -0.84 -0.60 -0.03 0.32 0.30 0.30 EPS (Diluted)
371 441 492 558 607 678 733 742 741 754 768 783 835 952 1,064 1,120 1,159 Shares Outstanding (Diluted
Average)
1,224 1,219 686 1,138 1,223 1,128 383 317 260 236 203 167 133 144 170 258 258 Depreciation, Depletion and
Amortization
1,451 1,451 1,085 -1,172 -730 1,974 1,553 496 -782 339 -18.00 -319 -160 262 621 724 724 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMD 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
918 633 1,380 1,432 933 1,657 606 869 549 869 805 785 1,264 1,185 1,078 1,466 1,466 Cash And Cash Equivalents
277 1,162 161 457 163 1,019 1,183 896 453 228 235 -- -- -- 78.00 37.00 37.00 Marketable Securities
1,196 1,795 1,541 1,889 1,096 2,676 1,789 1,765 1,002 1,097 1,040 785 1,264 1,185 1,156 1,503 1,503 Cash, Cash Equivalents, Marketable
Securities
737 806 1,140 640 320 745 968 919 630 832 818 533 311 454 1,235 1,859 1,859 Accounts Receivable
63.88 17.76 83.00 47.00 41.00 34.00 28.00 25.00 29.00 30.00 40.00 16.00 11.00 34.00 134 94.00 94.00 Inventories, Raw Materials &
Components
572 225 545 472 352 359 441 295 357 727 431 482 564 446 354 691 691 Inventories, Work In Process
239 146 186 291 263 174 163 156 176 127 214 180 176 214 357 197 197 Inventories, Finished Goods
875 389 814 810 656 567 632 476 562 884 685 678 751 694 845 982 982 Total Inventories
438 427 458 1,224 307 287 205 69.00 71.00 71.00 193 324 204 301 304 253 253 Other Current Assets
3,228 3,559 3,963 4,563 2,379 4,275 3,594 3,229 2,265 2,884 2,736 2,320 2,530 2,634 3,540 4,597 4,597 Total Current Assets
-- -- -- -- -- -- -- 427 181 90.00 -- -- 59.00 58.00 58.00 58.00 58.00 Investments And Advances
77.98 28.81 53.00 49.00 50.00 58.00 31.00 31.00 31.00 3.00 4.00 -- -- -- -- -- -- Land And Improvements
2,449 1,028 1,410 1,036 1,927 2,015 540 544 591 246 246 -- -- -- -- -- -- Buildings And Improvements
7,921 3,310 5,202 6,117 4,896 5,023 1,479 1,507 1,585 1,466 1,416 821 714 758 798 951 951 Machinery, Furniture, Equipment
590 1,121 672 677 285 399 29.00 114 11.00 18.00 14.00 17.00 19.00 56.00 78.00 114 114 Construction In Progress
11,038 5,488 7,337 7,879 7,158 7,495 2,079 2,196 2,218 1,733 1,680 984 881 1,001 1,055 1,473 1,473 Gross Property, Plant and Equipment
-6,804 -2,787 -3,350 -3,163 -2,862 -3,686 -1,379 -1,470 -1,560 -1,387 -1,378 -796 -717 -740 -707 -768 -768 Accumulated Depreciation
4,234 2,701 3,987 4,716 4,296 3,809 700 726 658 346 302 188 164 261 348 705 705 Property, Plant and Equipment
-- -- 4,424 1,751 491 421 360 331 804 911 604 467 523 528 515 499 499 Intangible Assets
-- -- 3,217 1,286 323 323 323 323 553 553 320 278 289 289 289 289 289 Goodwill
382 1,028 773 520 506 573 310 241 92.00 106 125 109 45.00 71.00 95.00 169 169 Other Long Term Assets
7,844 7,288 13,147 11,550 7,672 9,078 4,964 4,954 4,000 4,337 3,767 3,084 3,321 3,552 4,556 6,028 6,028 Total Assets
655 856 1,338 1,009 631 647 581 363 278 519 415 279 440 384 834 988 988 Accounts Payable
1,292 1,490 2,231 2,016 1,601 1,442 1,279 929 1,126 1,227 1,012 901 1,098 1,145 1,588 2,000 2,000 Accounts Payable & Accrued
Expense
231 43.23 125 238 286 479 233 489 5.00 60.00 177 230 -- 70.00 136 43.00 43.00 Current Portion of Long-Term Debt
142 142 169 101 50.00 121 143 123 108 145 72.00 53.00 63.00 -- 11.00 2.00 2.00 Current Deferred Revenue
142 142 169 101 50.00 121 143 123 108 145 72.00 53.00 63.00 -- 11.00 2.00 2.00 DeferredTaxAndRevenue
182 147 327 270 289 168 19.00 233 158 186 179 219 185 298 249 314 314 Other Current Liabilities
1,846 1,822 2,852 2,625 2,226 2,210 1,674 1,774 1,397 1,618 1,440 1,403 1,346 1,513 1,984 2,359 2,359 Total Current Liabilities
1,628 1,327 3,672 5,031 4,490 4,252 2,188 1,527 2,037 1,998 2,035 2,007 1,435 1,325 1,114 486 486 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 199 199 Capital Lease Obligation
1,628 1,327 3,672 5,031 4,490 4,252 2,188 1,527 2,037 1,998 2,035 2,007 1,435 1,325 1,114 685 685 Long-Term Debt & Capital Lease
Obligation
0.62 0.41 0.66 1.76 37.61 7.30 2.39 1.27 3.80 3.78 11.83 -5.43 3.45 2.34 0.99 0.26 0.26 Debt to Equity
104 92.61 31.00 6.00 91.00 -- -- -- -- -- -- -- -- -- -- -- -- NonCurrent Deferred Liabilities
841 235 290 265 169 1,076 -- -- -- -- -- -- -- -- -- -- -- Minority Interest
415 459 517 633 569 892 89.00 63.00 28.00 177 105 86.00 124 118 192 157 157 Other Long-Term Liabilities
3,994 3,701 7,072 8,295 7,376 7,354 3,951 3,364 3,462 3,793 3,580 3,496 2,905 2,956 3,290 3,201 3,201 Total Liabilities
3.92 4.36 5.00 6.00 6.00 7.00 7.00 7.00 7.00 7.00 8.00 8.00 9.00 9.00 10.00 12.00 12.00 Common Stock
308 474 308 -3,100 -6,244 -5,939 -5,468 -4,977 -6,160 -6,243 -6,646 -7,306 -7,803 -7,775 -7,436 -7,095 -7,095 Retained Earnings
381 164 156 163 108 154 1.00 -5.00 -3.00 -2.00 -5.00 -8.00 -5.00 6.00 -8.00 -- -- Accumulated other comprehensive
income (loss)
2,408 2,800 5,409 6,016 6,354 6,524 6,575 6,672 6,803 6,894 6,949 7,017 8,334 8,464 8,750 9,963 9,963 Additional Paid-In Capital
-91.10 -90.14 -93.00 -95.00 -97.00 -98.00 -102 -107 -109 -112 -119 -123 -119 -108 -50.00 -53.00 -53.00 Treasury Stock
3,010 3,352 5,785 2,990 127 648 1,013 1,590 538 544 187 -412 416 596 1,266 2,827 2,827 Total Equity
0.38 0.46 0.44 0.26 0.02 0.07 0.20 0.32 0.14 0.13 0.05 -0.13 0.13 0.17 0.28 0.47 0.47 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMD 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
91.16 165 -166 -3,379 -3,096 293 471 491 -1,183 -83.00 -403 -660 -498 -33.00 337 341 341 Net Income
91.16 165 -166 -3,379 -3,096 293 471 491 -1,183 -83.00 -403 -660 -498 -33.00 337 341 341 Net Income From Continuing
Operations
1,224 1,219 686 1,138 1,223 1,128 383 317 260 236 203 167 133 144 170 258 258 Depreciation, Depletion and
Amortization
-162 -103 -55.00 503 101 -960 -1,138 -347 290 -200 7.00 280 178 -103 -806 -623 -623 Change In Receivables
-180 -27.78 6.00 4.00 152 89.00 -144 157 -83.00 -322 199 -11.00 -48.00 -3.00 -151 -137 -137 Change In Inventory
35.06 8.38 96.00 -134 64.00 -17.00 -97.00 115 -32.00 -103 -120 -27.00 -162 -173 -98.00 -162 -162 Change In Prepaid Assets
5.78 527 301 -329 -676 -133 -127 -176 45.00 177 -377 -129 204 35.00 328 380 380 Change In Payables And Accrued
Expense
-122 219 172 19.00 -400 -1,039 -1,495 -252 220 -448 -291 113 172 -244 -727 -542 -542 Change In Working Capital
-39.24 -21.81 -2.00 -16.00 82.00 130 -5.00 -6.00 -40.00 1.00 -- -- 11.00 -- -4.00 -4.00 -- Change In DeferredTax
-- -- -- -- 83.00 75.00 87.00 90.00 97.00 91.00 81.00 63.00 86.00 97.00 137 197 197 Stock Based Compensation
-67.93 -99.44 597 1,928 -348 -117 147 -467 308 55.00 79.00 91.00 177 48.00 76.00 243 239 Cash Flow from Others
1,087 1,483 1,287 -310 -692 473 -412 382 -338 -148 -98.00 -226 81.00 12.00 34.00 493 493 Cash Flow from Operations
-1,440 -1,513 -1,857 -1,685 -624 -466 -148 -250 -133 -84.00 -95.00 -96.00 -77.00 -113 -163 -217 -217 Purchase Of Property, Plant,
Equipment
34.18 9.68 23.00 73.00 343 58.00 1.00 16.00 -- 238 -- 8.00 -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -904 -- -281 -- -- -- -- -- -- -- -- Purchase Of Business
-- -- -- -- 127 -- -- -- -- -- -- -- 342 1.00 -- -- -- Sale Of Business
-377 -1,721 -2,119 -545 -295 -1,486 -1,800 -1,586 -944 -1,043 -790 -227 -- -222 -123 -284 -362 Purchase Of Investment
227 1,097 3,066 307 416 617 1,709 1,726 1,348 1,344 873 462 -- 222 45.00 325 325 Sale Of Investment
-0.00 -142 -3,416 175 6.00 4.00 19.00 -19.00 -9.00 -- -- -- 12.00 58.00 71.00 27.00 58.00 Cash From Other Investing Activities
-1,556 -2,270 -4,303 -1,675 -27.00 -1,273 -1,123 -113 -19.00 455 -12.00 147 277 -54.00 -170 -149 -149 Cash Flow from Investing
124 189 726 686 -- 127 15.00 18.00 14.00 3.00 -- 5.00 667 -- -- -- -- Issuance of Stock
-- -- -- -- -- 1,091 -- -- -- -- -- -- -- -- -- -- -- Net Issuance of Preferred Stock
-122 -69.38 2,827 1,358 142 477 446 -39.00 2.00 -- -1,040 56.00 -1,343 -40.00 -41.00 -473 -473 Net Issuance of Debt
411 374 210 -7.00 78.00 -171 23.00 15.00 21.00 10.00 1,086 -2.00 798 7.00 69.00 516 516 Other Financing
413 494 3,763 2,037 220 1,524 484 -6.00 37.00 13.00 46.00 59.00 122 -33.00 28.00 43.00 43.00 Cash Flow from Financing
-49.81 -285 747 52.00 -499 724 -1,051 263 -320 320 -64.00 -20.00 480 -75.00 -108 387 387 Net Change in Cash
-1,440 -1,513 -1,857 -1,685 -624 -466 -148 -250 -133 -84.00 -95.00 -96.00 -77.00 -113 -163 -217 -217 Capital Expenditure
-354 -30.32 -570 -1,995 -1,316 7.00 -560 132 -471 -232 -193 -322 4.00 -101 -129 276 276 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMD 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
91.75 76.50 -- -- -- 22.00 12.98 8.31 -- -- -- -- -- 257 57.69 153 158 PE Ratio(TTM)
21.82 22.50 -- -- -- -- -- 174 -- -- -- -- -- -- -- -- -- Price to Owner Earnings
(TTM)
2.87 3.98 1.92 1.52 10.33 10.02 5.52 2.37 3.18 5.16 11.08 -- 25.48 16.69 14.65 18.98 19.64 Price to Book
2.87 3.98 8.18 3.67 -- 28.64 8.56 2.99 -- -- -- -- -- 147 24.71 23.05 23.85 Price to Tangible Book
-- -- -- -- -- 968 -- 29.03 -- -- -- -- 2,268 -- -- 200 207 Price-to-Free-Cash-Flow
Ratio
8.29 9.37 7.97 -- -- 17.99 -- 10.36 -- -- -- -- 162 791 595 109 112 Price-to-Operating-Cash-
Flow Ratio
1.81 2.34 1.84 0.70 0.23 1.22 0.92 0.61 0.33 0.55 0.37 0.56 2.21 1.91 3.10 7.65 7.92 PS Ratio
2.03 2.25 2.43 1.36 0.89 1.78 0.96 0.61 0.51 0.71 0.59 0.93 2.49 1.93 2.88 7.86 8.13 EV-to-Revenue
6.98 9.05 12.60 -6.37 -7.07 4.88 4.00 8.11 -3.52 11.11 -180 -11.68 -67.34 38.74 30.03 73.04 75.60 EV-to-EBITDA
44.77 56.71 34.27 -3.38 -2.64 11.38 5.32 22.46 -2.64 36.57 -14.68 -7.66 -36.77 87.51 41.34 113 117 EV-to-EBIT
2.23 1.76 2.92 -29.59 -37.88 8.79 18.80 4.45 -37.88 2.73 -6.81 -13.05 -2.72 1.14 2.42 0.88 0.85 Return on Capital %
-3.94 -3.74 -5.22 -17.55 -73.61 -14.88 -18.92 -24.00 -29.33 -8.53 -- -- -- -- -- -- 8.58 Forward Rate of Return
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Shiller PE Ratio
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
8,626 13,327 11,131 4,545 1,315 6,495 5,587 3,769 1,711 2,806 2,072 2,273 10,603 9,941 18,552 53,656 55,512 Market Cap
10,130 13,138 13,677 8,190 5,164 9,626 6,219 4,020 2,751 3,767 3,244 3,725 10,774 10,151 18,646 52,881 54,737 Enterprise Value
22.02 30.60 20.35 7.50 2.16 9.68 8.18 5.40 2.40 3.87 2.67 2.87 11.34 10.28 18.46 45.86 47.46 Month End Stock Price
-9.29 -4.92 -10.64 -11.01 -10.59 -8.58 -3.17 -2.29 -3.45 -3.72 -3.27 -3.42 -1.76 -1.83 -2.12 -1.45 -1.45 Net Cash (per share)
-4.10 -0.87 -6.21 -6.60 -8.49 -6.19 -0.52 -0.19 -1.68 -1.25 -1.09 -1.48 -0.40 -0.33 0.25 1.19 1.19 Net Current Asset Value
(per share)
-6.76 -3.08 -8.33 -9.55 -9.66 -7.32 -1.64 -0.96 -2.39 -2.25 -2.04 -2.49 -1.10 -1.12 -0.78 0.16 0.16 Net-Net Working Capital (per
share)
-1.52 0.37 1.09 -7.42 -11.70 -8.59 -8.52 -7.49 -8.35 -4.54 -2.50 -3.95 -1.48 -1.66 -0.49 1.31 1.31 Projected FCF (per share)
15.94 17.59 16.01 14.54 12.47 10.21 10.30 8.97 7.23 6.29 5.01 3.13 3.05 3.23 4.14 5.05 5.05 Median PS (per share)
-- -- -4.08 -- -- -- -- -- -- -- -- -- -- -- -- -- -15.54 Peter Lynch Fair Value (per
share)
6.57 8.32 -- -- -- 1.85 3.71 5.21 -- -- -- -- -- -- 2.32 3.67 3.67 Graham Number (per share)
-22.52 -18.94 -27.00 -29.24 -30.02 -19.91 -13.91 -10.00 -4.31 0.06 -0.22 -3.46 -3.09 -0.87 -0.38 1.38 1.38 Earnings Power Value
(EPV)
2.24 3.40 1.50 -0.10 -1.09 0.79 1.86 1.06 -1.10 0.08 -0.44 -1.80 0.34 0.92 3.26 10.23 10.57 Altman Z-Score
7.00 8.00 5.00 3.00 3.00 7.00 6.00 5.00 1.00 4.00 3.00 1.00 6.00 6.00 7.00 6.00 6.00 Piotroski F-Score
-2.83 -2.52 -1.74 -3.76 -4.01 -1.30 -1.93 -1.88 -3.11 -2.35 -2.46 -3.26 -3.58 -2.26 -0.89 -2.08 -2.08 Beneish M-Score
0.64 0.40 1.14 0.51 0.34 0.49 0.18 0.37 0.32 0.38 0.31 0.28 0.19 0.24 0.38 0.45 0.39 Scaled Net Operating
Assets
7.14 13.07 21.68 -12.07 -31.41 12.95 40.41 4.48 -20.65 -8.99 -7.78 -18.84 -25.78 0.25 10.38 -0.05 -0.05 Sloan Ratio (%)
1.75 1.95 1.39 1.74 1.07 1.93 2.15 1.82 1.62 1.78 1.90 1.65 1.88 1.74 1.78 1.95 1.95 Current Ratio
1.27 1.74 1.10 1.43 0.77 1.68 1.77 1.55 1.22 1.24 1.42 1.17 1.32 1.28 1.36 1.53 1.53 Quick Ratio
24.85 31.70 42.10 20.35 8.00 9.91 10.16 9.44 8.25 4.64 4.66 3.31 12.07 15.20 32.72 46.63 59.27 Highest Stock Price
10.86 14.16 17.39 7.32 1.80 2.00 5.61 4.53 1.86 2.29 2.47 1.62 1.80 9.75 9.53 17.05 21.04 Lowest Stock Price
-11.84 -11.18 -25.59 -10.79 -0.45 -10.23 -1.79 -2.20 -2.15 -1.68 -7.03 -2.06 -18.06 -3.42 -3.93 -16.42 -16.42 Shares Buyback Ratio (%)
32.88 -1.57 -13.79 -8.21 -8.86 -16.71 11.17 -0.08 -17.34 -3.95 2.01 -28.90 1.47 6.69 10.29 -1.25 0.47 YoY Rev. per Sh. Growth
(%)
132 60.00 -185 -1,682 15.02 109 42.22 3.13 -342 93.13 -382 -58.49 28.57 95.00 1,167 -6.25 -6.25 YoY EPS Growth (%)
81.22 -15.78 -33.02 -195 42.71 342 -27.23 -68.48 -258 143 -105 -1,670 52.83 243 112 10.62 12.08 YoY EBITDA Growth (%)
359 400 492 558 607 673 711 727 741 754 768 783 835 952 982 1,091 1,139 Shares Outstanding (Basic
Average)
392 436 547 606 609 671 683 698 713 725 776 792 935 967 1,005 1,170 1,167 Shares Outstanding (EOP)
3.26 3.30 4.34 3.21 1.88 2.20 2.23 2.16 2.34 2.26 2.55 1.66 2.85 2.96 4.44 3.15 3.17 Beta
03/01/05 02/27/06 03/01/07 02/26/08 02/24/09 02/19/10 02/18/11 02/24/12 02/21/13 02/18/14 02/19/15 02/18/16 02/21/17 02/27/18 02/08/19 02/04/20 Filing Date
02/27/06 02/27/06 02/26/08 02/24/09 02/19/10 02/18/11 02/21/13 02/18/14 02/19/15 02/18/16 02/21/17 02/27/18 02/08/19 02/04/20 02/04/20 02/04/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMD 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMD 7/7
Cimarex Energy Co (NYSE:XEC) 03/02/2020 4:10PM EST GuruFocus
Price: $ 32.72 -0.33(-1.00%) Market Cap: $ 3.34 B Enterprise Value: $5.56 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.04 Operating margin (%) 24.55
P/B 0.91
Equity to Asset 0.51 Net-margin (%) -5.27
P/S 1.37
Interest Coverage 15.62 ROE (%) -3.50
F-Score:
PFCF 198.30
ROA (%) -1.73
2 POCF 2.41
Z-Score: ROC (Joel Greenblatt) (%) -2.01
0.90 EV-to-EBIT -48.88
Revenue Growth (3Y)(%) 21.10
M-Score: Shiller P/E 28.87
-2.87 EPS Growth (3Y)(%) 32.80
Current Ratio 0.82
WACC vs 7.85%
ROIC 8.48% Quick Ratio 0.76
WACC
ROIC Days Inventory 13.46
Days Sales Outstanding 69.29
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Denver-based Cimarex Energy is an independent exploration and production company with operations throughout the
Revenue per Share: Declined
Southern and Central United States, where its focus includes the Permian Basin, Woodford Shale, and Meramec
2016 241 299 336 382 1,257 horizon. The firm was created in 2002 when it spun off from Helmerich & Payne and then merged with Key
Insider Sell: Insider Selling Production. At year-end 2018, Cimarex's proved reserves were 591 million barrels of oil equivalent, with net production
2017 447 456 464 551 1,918
of 221 thousand boe per day. Natural gas represented 42% of production and 45% of reserves.... (Read More)
2018 567 556 591 624 2,339
Competitors: ZAG:INA, TSX:OVV, NYSE:WPX, HKSE:00467 , KAR:OGDC, NYSE:MUR, ASX:BPT, NYSE:BSM,
Good Signs 2019 577 546 582 657 2,363 NYSE:COG, NYSE:TPL, TSX:TOU, TSX:PSK, MIC:RNFT, SZSE:002221, XTAE:DEDR, ASX:OSH, KAR:PPL,
2020 TSX:PXT, NAS:PDCE, TSX:VET
Operating Margin %:
Expansion Quarterly Earnings per Share Insider Trades
Dividend Yield %: Close to Mar Jun Sep Dec Full Year
10-year high 2016 -2.49 -2.31 -0.12 0.40 -4.52
2017 1.38 1.02 0.96 1.83 5.19
Price: Close to 10-year low 2018 1.96 1.48 1.56 3.32 8.32
PB Ratio: Close to 10-year 2019 0.26 1.07 0.39 -3.87 -2.15
low 2020
PS Ratio: Close to 10-year Quarterly Dividends Per Share
low Mar Jun Sep Dec Full Year
2016 0.16 0.08 0.08 0.08 0.40
DCF 2017 0.08 0.08 0.08 0.08 0.32
2018 0.08 0.16 0.16 0.18 0.58
GuruFocus does not 2019 0.18 0.20 0.20 0.20 0.78
calculate intrinsic value: DCF 2020
(Earnings Based) for
companies with one star Growth Rate
predictability or not rated. But Annual Rates(per share) 10-Y 5-Y 12-M
you can go to each stock's
Revenue Growth (%) 3.10 2.90 -4.10
DCF page to calculate
yourself. EBITDA Growth (%) 0.00 0.00 -56.00
Free Cash Flow Growth (%) 0.00 0.00 0.00
Reverse DCF Book Value Growth (%) -0.20 -0.20 4.10
GuruFocus does not EPS Growth (%) 0.00 0.00 -116.00
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/XEC 1/6
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.11 16.70 15.07 16.91 23.48 11.99 19.26 20.89 19.10 23.39 28.25 15.62 13.47 20.51 24.93 23.92 23.92 Revenue per Share
8.59 12.88 10.75 11.80 -10.38 -2.45 14.63 14.72 12.80 17.95 19.22 -35.11 -1.81 12.62 17.70 7.78 7.80 EBITDA per Share
5.64 8.95 6.04 6.34 -16.91 -5.61 10.99 10.08 6.76 10.74 10.18 -42.97 -6.01 7.85 11.40 -1.15 -1.12 EBIT per Share
3.59 4.90 4.11 4.09 -11.22 -3.82 6.70 6.15 4.07 6.47 6.00 -27.75 -4.38 5.19 8.32 -1.33 -2.15 Earnings per Share (diluted)
3.59 4.90 4.11 4.09 -11.22 -3.82 6.70 6.15 4.07 6.47 6.00 -27.75 -4.38 5.19 8.32 -1.33 -2.15 eps without NRI
-- -- -- 5.25 -19.70 -11.86 2.85 3.20 0.13 2.11 2.40 -50.51 -14.62 -0.04 5.53 -3.54 -3.54 Owner Earnings per Share (TTM)
1.74 1.09 -1.81 -0.32 -3.33 1.28 1.42 -4.36 -6.29 -3.51 -6.75 -3.48 -1.03 -1.95 -1.27 0.21 0.17 Free Cashflow per Share
-- -- 0.16 0.16 0.24 0.24 0.30 0.38 0.46 0.54 0.62 0.64 0.40 0.32 0.58 0.78 0.78 Dividends per Share
16.79 31.51 35.91 39.49 28.21 24.40 30.62 36.50 40.13 46.15 51.38 25.93 21.48 26.91 34.77 36.20 35.83 Book Value per Share
15.71 22.80 27.57 31.11 19.92 16.12 22.51 29.27 32.96 39.04 44.30 19.39 14.96 20.41 28.30 28.94 28.65 Tangible Book per Share
-- 4.28 5.35 5.90 7.05 4.70 4.11 4.72 8.66 10.60 16.93 15.67 15.64 15.58 15.55 22.63 22.40 Total Debt per Share
37.90 43.01 36.50 42.53 26.78 52.97 88.53 61.90 57.73 105 106 89.38 136 122 61.65 52.49 32.72 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
24.86 19.92 12.41 11.11 -32.62 -14.21 24.18 18.04 10.51 14.77 12.11 -74.14 -18.16 21.07 26.48 -3.76 -3.50 Return on Equity %
16.07 12.42 7.67 6.80 -19.21 -8.20 14.73 10.91 6.07 8.33 6.60 -38.45 -9.14 10.65 14.26 -1.89 -1.73 Return on Assets %
33.78 31.83 15.16 13.76 -40.33 -17.83 34.08 23.16 12.23 16.28 13.20 -79.24 -20.29 24.41 28.82 -2.35 -2.01 Return on Capital %
27.84 21.95 10.23 9.72 15.62 7.99 20.25 16.35 9.37 12.45 10.06 0.18 5.24 16.19 19.40 9.76 8.48 Return on Invested Capital %
0.79 9.60 9.95 11.26 7.18 12.88 11.21 11.30 9.32 15.66 14.63 10.11 9.43 7.73 8.69 9.39 7.85 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 6.16 3.34 1.99 1.74 2.45 2.80 3.07 3.72 4.17 3.49 3.18 2.00 1.78 Effective Interest Rate on Debt %
89.95 86.47 82.21 81.95 84.74 76.97 64.65 59.18 47.55 48.85 44.38 13.86 32.65 49.14 51.84 37.21 37.21 Gross Margin %
50.71 53.58 40.05 37.50 41.15 33.21 52.59 47.10 35.15 44.84 34.68 0.85 19.21 38.03 41.09 24.55 24.55 Operating Margin %
32.32 29.35 27.28 24.21 -46.45 -30.89 35.62 30.15 21.79 28.26 21.72 -178 -32.51 25.77 33.85 -5.27 -5.27 Net Margin %
15.67 6.54 -12.02 -1.87 -14.16 10.70 7.36 -20.85 -32.94 -15.01 -23.90 -22.30 -7.63 -9.48 -5.09 0.87 0.87 FCF Margin %
-- 0.14 0.15 0.15 0.25 0.19 0.13 0.13 0.22 0.23 0.33 0.60 0.73 0.58 0.45 0.61 0.61 Debt to Equity
0.63 0.62 0.62 0.61 0.57 0.59 0.60 0.58 0.55 0.56 0.52 0.52 0.48 0.51 0.55 0.51 0.51 Total Equity to Total Asset
-- 0.08 0.09 0.09 0.14 0.11 0.08 0.08 0.12 0.13 0.17 0.32 0.35 0.30 0.25 0.31 0.31 Total Debt to Total Asset
44.73 36.60 23.12 23.01 35.05 20.43 26.74 21.42 13.24 14.40 13.48 3.00 9.18 20.31 21.84 13.32 12.22 Gross Profit to Total Asset %
0.50 0.42 0.28 0.28 0.41 0.27 0.41 0.36 0.28 0.30 0.30 0.22 0.28 0.41 0.42 0.36 0.33 Asset Turnover
-- -- 0.04 0.04 -- -- 0.05 0.06 0.11 0.08 0.10 -- -- 0.06 0.07 -- -- Dividend Payout Ratio
17.26 94.36 88.28 80.42 47.99 82.38 70.34 64.73 68.00 67.08 61.98 56.63 79.71 87.56 70.88 69.29 69.29 Days Sales Outstanding
203 198 91.07 74.40 123 47.43 30.23 40.59 44.41 41.46 37.37 19.49 32.10 36.81 34.61 12.06 12.06 Days Accounts Payable
62.82 53.71 60.06 48.76 131 260 72.64 42.48 35.60 26.39 21.19 21.05 18.95 15.54 17.06 12.72 13.46 Days Inventory
-123 -49.63 57.27 54.78 56.11 295 113 66.62 59.19 52.01 45.80 58.19 66.56 66.29 53.33 69.95 70.69 Cash Conversion Cycle
5.81 6.80 6.08 7.49 2.79 1.40 5.02 8.59 10.25 13.83 17.23 17.34 19.26 23.49 21.40 28.68 27.13 Inventory Turnover
0.10 0.14 0.18 0.18 0.15 0.23 0.35 0.41 0.52 0.51 0.56 0.86 0.67 0.51 0.48 0.63 0.63 COGS to Revenue
0.02 0.02 0.03 0.02 0.06 0.16 0.07 0.05 0.05 0.04 0.03 0.05 0.04 0.02 0.02 0.02 0.02 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/XEC 2/6
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
475 1,119 1,267 1,431 1,970 1,010 1,614 1,758 1,624 1,998 2,424 1,453 1,257 1,918 2,339 2,363 2,363 Revenue
47.76 151 225 258 301 233 570 718 852 1,022 1,348 1,251 847 976 1,126 1,484 1,484 Cost of Goods Sold
427 967 1,042 1,173 1,670 777 1,043 1,040 772 976 1,076 201 410 943 1,213 879 879 Gross Profit
89.95 86.47 82.21 81.95 84.74 76.97 64.65 59.18 47.55 48.85 44.38 13.86 32.65 49.14 51.84 37.21 37.21 Gross Margin %
24.44 38.46 50.53 66.67 54.59 50.98 60.97 64.21 76.35 91.75 96.16 94.25 98.42 106 101 122 122 Selling, General, & Admin. Expense
162 330 484 569 804 391 134 148 125 -11.61 139 94.74 70.53 107 151 177 177 Other Operating Expense
241 599 508 537 811 335 849 828 571 896 841 12.30 242 730 961 580 580 Operating Income
50.71 53.58 40.05 37.50 41.15 33.21 52.59 47.10 35.15 44.84 34.68 0.85 19.21 38.03 41.09 24.55 24.55 Operating Margin %
-- -- -- -- 22.11 23.41 -- -- -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -- -33.08 -16.37 -7.40 -6.55 -14.14 -23.46 -36.94 -55.16 -62.02 -51.87 -47.37 -37.15 -37.15 Interest Expense
-- -- -- -- -10.97 -16.37 -7.40 -6.55 -14.14 -23.46 -36.94 -55.16 -62.02 -51.87 -47.37 -37.15 -37.15 Net Interest Income
5.37 -82.90 36.79 7.97 -2,251 -807 72.46 20.08 3.89 21.31 32.67 -4,008 -803 4.37 109 -694 -694 Other Income (Expense)
246 516 544 545 -1,452 -488 914 841 561 894 836 -4,051 -623 682 1,023 -151 -151 Pre-Tax Income
-92.73 -188 -199 -198 536 177 -339 -312 -207 -329 -310 1,472 214 -188 -231 26.37 26.37 Tax Provision
37.64 36.43 36.49 36.38 36.95 36.14 37.10 37.02 36.88 36.81 37.05 36.33 34.40 27.52 22.56 17.46 17.46 Tax Rate %
154 328 346 346 -915 -312 575 530 354 565 526 -2,580 -409 494 792 -125 -125 Net Income (Continuing Operations)
154 328 346 346 -915 -312 575 530 354 565 526 -2,580 -409 494 792 -125 -125 Net Income
32.32 29.35 27.28 24.21 -46.45 -30.89 35.62 30.15 21.79 28.26 21.72 -178 -32.51 25.77 33.85 -5.27 -5.27 Net Margin %
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 5.08 5.08 Preferred dividends
3.70 5.07 4.21 4.23 -11.22 -3.82 6.74 6.17 4.08 6.48 6.01 -27.75 -4.38 5.19 8.32 -1.33 -2.15 EPS (Basic)
3.59 4.90 4.11 4.09 -11.22 -3.82 6.70 6.15 4.07 6.47 6.00 -27.75 -4.38 5.19 8.32 -1.33 -2.15 EPS (Diluted)
42.76 67.00 84.09 84.63 83.91 84.19 83.79 84.15 85.03 85.41 85.81 92.99 93.38 93.51 93.82 98.79 99.80 Shares Outstanding (Diluted
Average)
126 263 396 462 547 266 304 390 514 616 776 731 392 446 590 882 882 Depreciation, Depletion and
Amortization
367 863 904 998 -871 -206 1,225 1,238 1,089 1,533 1,649 -3,265 -169 1,180 1,660 768 768 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/XEC 3/6
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
116 61.65 5.05 123 1.21 2.54 114 2.41 69.54 4.53 406 779 653 401 801 94.72 94.72 Cash And Cash Equivalents
-- -- -- 14.39 2.50 1.24 -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
116 61.65 5.05 137 3.72 3.78 114 2.41 69.54 4.53 406 779 653 401 801 94.72 94.72 Cash, Cash Equivalents, Marketable
Securities
22.47 289 306 315 259 228 311 312 303 367 412 225 275 460 454 449 449 Accounts Receivable
-- -- -- -- 186 145 81.87 85.14 81.03 66.77 89.78 54.58 33.34 49.72 55.55 47.89 47.89 Inventories, Raw Materials &
Components
9.74 34.78 39.40 29.64 -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
9.74 34.78 39.40 29.64 186 145 81.87 85.14 81.03 66.77 89.78 54.58 33.34 49.72 55.55 47.89 47.89 Total Inventories
6.97 43.41 65.85 82.17 66.09 30.43 54.10 10.94 16.60 30.08 24.05 18.57 8.52 25.21 114 30.29 30.29 Other Current Assets
236 429 417 565 515 407 561 458 470 469 932 1,078 969 936 1,424 621 621 Total Current Assets
1,669 3,992 5,082 5,911 -- -- -- -- -- -- -- -- -- -- -- -- -- Land And Improvements
1,669 4,096 5,171 6,051 7,638 8,165 9,223 10,777 12,202 13,764 15,548 16,424 17,156 18,491 19,585 22,843 22,843 Gross Property, Plant and Equipment
-867 -1,132 -1,494 -1,988 -4,710 -5,853 -6,144 -6,533 -7,044 -7,651 -8,433 -13,453 -14,596 -15,039 -15,612 -17,113 -17,113 Accumulated Depreciation
802 2,964 3,677 4,062 2,928 2,312 3,079 4,244 5,157 6,113 7,115 2,971 2,560 3,452 3,973 5,730 5,730 Property, Plant and Equipment
44.97 717 691 691 691 691 691 620 620 620 620 620 620 620 620 717 717 Intangible Assets
-- 717 691 691 691 691 691 620 620 620 620 620 620 620 620 717 717 Goodwill
21.74 70.04 44.93 44.47 30.44 33.69 26.81 34.83 57.41 51.21 41.69 38.97 88.46 34.32 44.70 71.69 71.69 Other Long Term Assets
1,105 4,180 4,830 5,363 4,165 3,445 4,358 5,357 6,305 7,253 8,708 4,708 4,238 5,043 6,062 7,140 7,140 Total Assets
26.51 81.95 56.24 52.67 101 30.21 47.24 79.79 104 116 138 66.82 74.49 98.39 107 49.02 49.02 Accounts Payable
-- -- -- -- -- 27.96 -- 33.95 29.18 27.51 26.95 17.55 18.77 23.69 33.62 54.45 54.45 Total Tax Payable
104 261 258 293 470 375 503 616 646 683 776 410 473 638 681 676 676 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 66.00 66.00 Current Portion of Long-Term Debt
39.13 136 96.18 132 -- 13.90 9.59 -- -- 0.39 -- -- 49.37 42.07 27.63 16.68 16.68 Other Current Liabilities
143 397 355 425 470 389 512 616 646 683 776 410 522 680 709 759 759 Total Current Liabilities
-- 352 444 487 588 393 350 405 750 924 1,483 1,486 1,488 1,487 1,489 1,985 1,985 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 184 184 Capital Lease Obligation
-- 352 444 487 588 393 350 405 750 924 1,483 1,486 1,488 1,487 1,489 2,169 2,169 Long-Term Debt & Capital Lease
Obligation
-- 0.14 0.15 0.15 0.25 0.19 0.13 0.13 0.22 0.23 0.33 0.60 0.73 0.58 0.45 0.61 0.61 Debt to Equity
225 718 922 1,076 501 349 619 904 1,121 1,460 1,755 157 -- 102 334 338 338 NonCurrent Deferred Liabilities
36.45 117 134 116 255 276 267 302 313 164 194 197 184 206 201 216 216 Other Long-Term Liabilities
405 1,585 1,854 2,104 1,813 1,406 1,748 2,227 2,830 3,231 4,208 2,250 2,195 2,474 2,732 3,482 3,482 Total Liabilities
0.42 0.84 0.84 0.84 0.84 0.84 0.85 0.86 0.87 0.87 0.88 0.95 0.95 0.95 0.96 1.02 1.02 Common Stock
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 81.62 81.62 Preferred Stock
460 788 1,117 1,449 510 178 726 1,221 1,534 2,050 2,502 -306 -722 -199 543 332 332 Retained Earnings
-9.98 -15.78 31.08 7.63 -0.96 -0.02 0.26 -0.01 0.47 1.19 1.10 0.44 0.95 2.20 0.76 -- -- Accumulated other comprehensive
income (loss)
250 1,866 1,867 1,843 1,875 1,859 1,883 1,909 1,940 1,970 1,997 2,763 2,763 2,764 2,785 3,243 3,243 Additional Paid-In Capital
-- -43.55 -40.63 -40.63 -33.34 -- -- -- -- -- -- -- -- -- -- -- -- Treasury Stock
701 2,595 2,976 3,259 2,352 2,038 2,610 3,131 3,475 4,022 4,501 2,458 2,043 2,568 3,330 3,658 3,658 Total Equity
0.63 0.62 0.62 0.61 0.57 0.59 0.60 0.58 0.55 0.56 0.52 0.52 0.48 0.51 0.55 0.51 0.51 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/XEC 4/6
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
154 328 346 346 -915 -312 575 530 354 565 526 -2,580 -409 494 792 -125 -125 Net Income
154 328 346 346 -915 -312 575 530 354 565 526 -2,580 -409 494 792 -125 -125 Net Income From Continuing
Operations
126 263 396 462 547 266 304 390 514 616 776 731 392 446 590 882 882 Depreciation, Depletion and
Amortization
-35.70 -45.79 -9.81 -7.78 56.25 29.88 -83.39 -48.63 56.44 -64.78 -35.13 187 -49.34 -186 5.42 65.13 65.13 Change In Receivables
-1.70 -27.29 -11.81 -32.18 -155 -- 34.25 -- 4.21 -- -- -- -- -- -- -- -- Change In Inventory
42.92 52.49 -18.29 55.44 23.25 -63.08 -8.56 -6.65 -2.60 -13.29 45.71 -243 25.17 115 13.95 -185 -185 Change In Payables And Accrued
Expense
7.17 -19.87 -39.32 9.01 -75.73 16.70 -44.93 -18.27 61.17 -205 -17.29 5.38 0.58 -87.18 15.64 -123 -123 Change In Working Capital
66.85 113 221 168 -603 -165 293 358 208 330 309 -1,486 -213 190 233 -26.90 -26.90 Change In DeferredTax
-- -- -- -- 10.09 9.25 12.35 18.95 21.92 14.28 15.00 19.56 24.52 26.26 22.90 26.40 26.39 Stock Based Compensation
2.04 20.15 -44.91 9.90 144 54.20 -8.61 13.58 33.71 4.86 10.13 2.08 72.82 26.64 -103 91.19 710 Cash Flow from Others
356 705 878 995 1,367 675 1,130 1,292 1,193 1,324 1,619 726 626 1,097 1,551 1,344 1,344 Cash Flow from Operations
-281 -632 -1,031 -1,021 -1,595 -535 -960 -1,562 -1,728 -1,624 -2,199 -1,050 -722 -1,278 -1,670 -1,323 -1,323 Purchase Of Property, Plant,
Equipment
0.93 142 10.71 177 39.10 120 28.24 117 312 61.50 450 39.85 21.49 11.68 581 28.95 28.95 Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -284 -284 Purchase Of Business
-- -- -- -16.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Purchase Of Investment
-- -- -- 1.42 10.68 3.33 -- -- -- -- -- -- -- -- -- -- -- Sale Of Investment
-12.62 -7.75 10.28 -16.56 -51.72 -31.85 -46.04 15.37 1.06 31.66 8.41 1.18 7.89 0.90 3.77 1.10 1.10 Cash From Other Investing Activities
-293 -497 -1,010 -875 -1,597 -444 -978 -1,429 -1,415 -1,531 -1,740 -1,009 -692 -1,266 -1,086 -1,578 -1,578 Cash Flow from Investing
13.83 15.77 4.16 9.89 13.14 3.42 28.76 10.41 11.43 -- -- 752 -- -- -- -- -- Issuance of Stock
-1.25 -2.13 -11.02 -42.27 -- -- -- -- -- -- -- -- -- -- -- -- -- Repurchase of Stock
-- -274 95.00 50.64 114 -195 -44.45 55.00 331 174 576 -- -- -1.89 -- -375 -375 Net Issuance of Debt
-- -- -13.36 -13.43 -20.04 -20.17 -25.50 -32.58 -39.58 -46.71 -53.85 -58.28 -38.02 -30.53 -55.24 -81.71 -81.71 Cash Flow for Dividends
-- -1.52 -- -6.11 -- -18.00 -0.10 -7.38 -13.82 14.39 0.28 -37.42 -21.92 -50.59 -10.00 -15.76 -15.76 Other Financing
12.57 -261 74.78 -1.28 107 -230 -41.29 25.45 289 142 522 656 -59.95 -83.01 -65.24 -472 -472 Cash Flow from Financing
75.33 -54.10 -56.60 118 -122 1.33 112 -112 67.13 -65.01 401 374 -127 -252 400 -706 -706 Net Change in Cash
-281 -632 -1,031 -1,021 -1,647 -567 -1,012 -1,659 -1,728 -1,624 -2,199 -1,050 -722 -1,278 -1,670 -1,323 -1,323 Capital Expenditure
74.45 73.19 -152 -26.78 -279 108 119 -367 -535 -300 -579 -324 -95.94 -182 -119 20.48 20.48 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/XEC 5/6
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
10.59 8.58 8.95 10.37 -- -- 13.17 10.05 14.15 16.16 18.28 -- -- 23.51 7.41 -- -- PE Ratio(TTM)
-- -- -- 8.10 -- -- 31.11 19.37 434 49.67 44.22 -- -- -- 11.16 -- -- Price to Owner Earnings
(TTM)
2.26 1.37 1.02 1.08 0.95 2.17 2.89 1.70 1.44 2.27 2.06 3.45 6.33 4.53 1.77 1.45 0.91 Price to Book
2.41 1.89 1.32 1.37 1.34 3.29 3.93 2.12 1.75 2.69 2.39 4.61 9.09 5.98 2.18 1.81 1.14 Price to Tangible Book
21.84 53.30 -- -- -- 41.74 68.10 -- -- -- -- -- -- -- -- 318 198 Price-to-Free-Cash-Flow
Ratio
4.56 4.27 3.51 3.62 1.67 6.62 6.56 4.02 4.10 6.76 5.61 11.30 20.27 10.41 3.73 3.87 2.41 Price-to-Operating-Cash-
Flow Ratio
3.41 2.69 2.43 2.52 1.16 4.42 4.58 2.96 3.01 4.48 3.75 5.60 10.09 5.95 2.47 2.19 1.37 PS Ratio
-- -- -- -- -- -- -- -- -- -- 1.72 -- -- -- -- -- -- PEG Ratio
3.08 3.43 2.73 2.70 1.43 4.77 4.82 3.25 3.50 5.04 4.27 6.32 10.95 6.64 2.82 3.16 2.35 EV-to-Revenue
3.98 4.44 3.89 3.88 -3.23 -23.32 6.35 4.61 5.22 6.56 6.28 -2.81 -81.52 10.79 3.97 9.71 7.24 EV-to-EBITDA
6.08 6.38 7.01 7.24 -1.99 -10.20 8.45 6.74 9.88 10.97 11.87 -2.30 -24.52 17.35 6.16 -65.54 -48.88 EV-to-EBIT
16.45 15.67 14.27 13.81 -50.25 -9.80 11.83 14.84 10.12 9.12 8.42 -43.48 -4.08 5.76 16.23 -1.53 -2.05 Return on Capital %
-- -- -- -- 3.00 -1.17 -0.55 -1.65 -3.72 -2.16 6.99 -- -- -- -- -- -6.59 Forward Rate of Return
-- -- -- -- -- -- -- -- 25.26 38.94 37.52 -- -- -- 71.65 46.32 28.87 Shiller PE Ratio
-- -- 0.44 0.38 0.90 0.45 0.34 0.61 0.80 0.51 0.58 0.72 0.29 0.26 0.94 1.49 2.44 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Market Cap
1,582 3,543 3,025 3,510 2,232 4,425 7,546 5,309 4,999 9,143 9,285 8,475 12,927 11,644 5,903 5,185 3,342
1,466 3,834 3,464 3,860 2,816 4,814 7,782 5,712 5,680 10,063 10,362 9,181 13,762 12,731 6,591 7,408 5,564 Enterprise Value
37.90 43.01 36.50 42.53 26.78 52.97 88.53 61.90 57.73 105 106 89.38 136 122 61.65 52.49 32.72 Month End Stock Price
-6.93 -18.49 -22.30 -23.82 -21.71 -16.79 -19.17 -25.93 -31.88 -37.02 -43.41 -15.51 -16.21 -21.73 -20.17 -34.29 -33.94 Net Cash (per share)
-4.03 -14.03 -17.34 -18.64 -15.58 -11.96 -13.93 -20.62 -27.26 -31.69 -37.40 -12.36 -12.88 -16.12 -13.66 -29.78 -29.48 Net Current Asset Value
(per share)
-6.40 -15.65 -19.29 -20.77 -18.26 -13.88 -15.96 -22.71 -28.79 -33.48 -39.37 -13.44 -13.87 -17.85 -16.32 -31.47 -31.15 Net-Net Working Capital (per
share)
-- -- -- -- 16.15 15.53 23.63 19.96 14.39 14.19 1.76 -12.73 -19.79 -12.22 1.33 8.97 8.97 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- 79.19 96.17 55.88 53.47 90.53 113 107 107 Median PS (per share)
-- -- -- -- -154 -- -- -- -- -- 63.52 -- -- -- -- -- -4.25 Peter Lynch Fair Value (per
share)
35.63 50.13 50.49 53.51 -- -- 58.25 63.64 54.94 75.38 77.33 -- -- 48.82 72.78 -- -- Graham Number (per share)
-- -- -- -265 -334 -56.98 -70.21 -81.46 -91.91 -90.53 -113 -111 -95.20 -84.42 -86.51 -81.18 -81.18 Earnings Power Value
(EPV)
4.19 2.29 1.95 2.01 0.25 1.81 3.90 2.56 1.93 2.75 2.36 -0.15 3.28 3.69 2.53 1.22 0.90 Altman Z-Score
9.00 5.00 6.00 5.00 4.00 4.00 8.00 4.00 3.00 6.00 5.00 3.00 5.00 8.00 8.00 2.00 2.00 Piotroski F-Score
-3.69 3.68 -3.04 -3.12 -2.59 -2.41 -2.64 -3.19 -3.16 -2.86 -3.02 -1.06 -2.74 -2.65 -3.14 -2.87 -2.87 Beneish M-Score
0.73 2.61 0.82 0.75 0.55 0.58 0.83 0.81 0.78 0.78 0.77 0.36 0.61 0.86 0.80 0.96 0.76 Scaled Net Operating
Assets
8.22 2.90 9.88 4.24 -16.47 -15.76 9.68 12.45 9.14 10.64 7.44 -48.78 -8.08 13.16 5.39 1.53 1.53 Sloan Ratio (%)
1.65 1.08 1.18 1.33 1.10 1.05 1.10 0.74 0.73 0.69 1.20 2.63 1.86 1.38 2.01 0.82 0.82 Current Ratio
1.59 0.99 1.06 1.26 0.70 0.67 0.94 0.60 0.60 0.59 1.08 2.50 1.79 1.30 1.93 0.76 0.76 Quick Ratio
41.03 45.93 47.31 42.86 73.70 53.95 89.85 118 86.41 110 149 129 143 142 129 76.42 75.49 Highest Stock Price
24.53 34.58 33.43 34.12 22.68 15.92 49.21 53.37 46.96 57.73 92.73 85.27 75.60 91.33 57.32 37.63 29.18 Lowest Stock Price
-1.62 -97.41 -0.61 0.41 -0.98 -0.23 -2.03 -0.63 -0.96 -0.64 -0.51 -8.25 -0.32 -0.33 -0.33 -3.17 -4.22 Shares Buyback Ratio (%)
45.46 50.25 -9.74 12.22 38.86 -48.92 60.57 8.46 -8.57 22.49 20.76 -44.71 -13.80 52.35 21.53 -4.06 -4.04 YoY Rev. per Sh. Growth
(%)
61.71 36.49 -16.12 -0.49 -374 65.95 275 -8.21 -33.82 58.97 -7.26 -563 84.22 218 60.31 -116 -126 YoY EPS Growth (%)
52.13 49.95 -16.50 9.74 -188 76.38 696 0.63 -13.01 40.20 7.05 -283 94.85 798 40.25 -56.05 -55.91 YoY EBITDA Growth (%)
-- -- -- -- -- -- -- -- -- -- 10.64 -- -- -- -- -- -- EBITDA 5-Y Growth (%)
41.47 64.76 82.07 81.82 83.91 84.19 83.34 83.76 84.76 85.29 85.68 92.99 93.38 93.47 93.79 98.79 99.80 Shares Outstanding (Basic
Average)
41.73 82.38 82.88 82.54 83.35 83.54 85.23 85.77 86.60 87.15 87.59 94.82 95.12 95.44 95.76 98.79 102 Shares Outstanding (EOP)
-- 0.95 1.08 1.45 1.09 1.73 1.42 1.68 1.40 2.31 2.33 1.52 1.30 1.00 1.27 1.71 1.70 Beta
03/15/05 03/09/06 02/28/07 02/28/08 02/27/09 02/26/10 02/25/11 02/22/12 02/26/13 02/26/14 02/25/15 02/23/16 02/24/17 02/23/18 02/20/19 02/26/20 Filing Date
03/09/06 02/28/07 02/28/07 02/28/08 02/26/10 08/16/11 02/26/13 02/26/14 03/09/15 02/23/16 05/10/17 02/23/18 02/20/19 02/26/20 02/26/20 02/26/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/XEC 6/6
General Mills Inc (NYSE:GIS) 03/02/2020 4:10PM EST GuruFocus
Price: $ 51.41 +2.41(+4.92%) Market Cap: $ 31.09 B Enterprise Value: $44.68 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 14.77
Cash to Debt 0.04 Operating margin (%) 17.55
Forward P/E N/A
Equity to Asset 0.25 Net-margin (%) 12.62
PE(NRI) 14.77
Interest Coverage 5.90 ROE (%) 29.64
F-Score:
P/B 4.03
ROA (%) 6.99
6 P/S 1.87
Z-Score: ROC (Joel Greenblatt) (%) 72.84
2.30 PFCF 12.93
Revenue Growth (3Y)(%) 1.00
M-Score: POCF 10.93
-2.56 EBITDA Growth (3Y)(%) -0.60
EV-to-EBIT 16.34
WACC vs 5.37% EPS Growth (3Y)(%) 1.50
ROIC 11.60% PEG 11.38
WACC
ROIC Shiller P/E 17.42
Current Ratio 0.61
Quick Ratio 0.37
Days Inventory 54.56
Days Sales Outstanding 38.55
Warning Signs Quarterly Revenues Company Description
Dividend Yield %: Close to 2- Mar Jun Sep Dec Full Year General Mills is a leading global packaged food company that produces snacks, cereal, convenient meals, yogurt,
dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley,
year low 2016 4,002 3,928 3,908 4,112 15,950 Cheerios, Old El Paso, Yoplait, Pillsbury, Betty Crocker, Blue Buffalo, and Haagen-Dazs. In 2019, 74% of its revenue
2017 3,793 3,807 3,769 4,199 15,568 was derived from the United States, although the company also operates in Canada, Europe, Australia, Asia, and
Price: Close to 2-year high Latin America. While most of General Mills' products are sold through retail stores to consumers, the company also
2018 3,882 3,890 4,094 4,411 16,278 sells products into the food-service channel and commercial baking industry.... (Read More)
PS Ratio: Close to 2-year high 2019 4,198 4,162 4,003 4,421 16,783 Competitors: NAS:KHC, LSE:ABF, SHSE:600887 , SHSE:603288 , NYSE:HRL , LSE:KYGA, NYSE:K,
2020 NSE:NESTLEIND, NYSE:MKC, SZSE:000895, HKSE:00288, BSP:JBSS3, XPAR:BN, HKSE:02319, NYSE:CPB,
Insider Sell: Insider Selling NYSE:CAG, NYSE:LW, TPE:1216, HKSE:06186, TSX:SAP
Quarterly Earnings per Share
Insider Trades
Good Signs Mar Jun Sep Dec Full Year
2016 0.59 0.62 0.67 0.80 2.68
Revenue per Share: 2017 0.61 0.69 0.69 0.74 2.73
Consistent growth 2018 1.62 0.59 0.65 0.57 3.43
Operating Margin %: 2019 0.74 0.94 0.85 0.95 3.48
Expansion 2020
PE Ratio: Close to 1-year low Quarterly Dividends Per Share
PB Ratio: Close to 1-year low Mar Jun Sep Dec Full Year
2016 0.44 0.46 0.48 0.48 1.86
2017 0.48 0.48 0.49 0.49 1.94
DCF 2018 0.49 0.49 0.49 0.49 1.96
EPS without NRI: $3.48 2019 0.49 0.49 0.49 0.49 1.96
Growth Rate in the next 10 2020
years: 5% Growth Rate
Terminal Growth Rate for 10
years: 4% Annual Rates(per share) 10-Y 5-Y 12-M
Fair Value: $37.24 Revenue Growth (%) 2.70 -0.50 0.90
EBITDA Growth (%) 2.30 1.30 2.70
Reverse DCF Free Cash Flow Growth (%) 7.90 5.50 15.50
Expected eps Growth Rate: Book Value Growth (%) 1.40 3.00 14.40
10.02% EPS Growth (%) 3.80 5.80 1.50
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GIS 1/7
Per Share Data
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
13.40 13.82 15.46 17.27 19.68 21.38 21.42 22.38 24.99 26.70 27.74 28.49 27.07 26.12 26.88 27.86 27.54 Revenue per Share
2.96 3.34 3.18 3.44 3.87 4.08 4.43 4.90 4.67 5.19 5.51 4.33 5.43 5.31 5.36 5.33 5.50 EBITDA per Share
2.47 2.80 2.62 2.86 3.21 3.42 3.77 4.19 3.86 4.30 4.61 3.38 4.44 4.30 4.30 4.31 4.49 EBIT per Share
1.30 1.54 1.45 1.59 1.86 1.90 2.24 2.70 2.35 2.79 2.83 1.97 2.77 2.77 3.64 2.90 3.48 Earnings per Share (diluted)
1.30 1.54 1.45 1.59 1.86 1.90 2.24 2.70 2.35 2.79 2.83 1.97 2.77 2.77 3.64 2.90 3.48 eps without NRI
1.15 1.85 1.83 1.64 1.75 2.42 2.29 1.74 2.87 3.53 3.02 2.26 3.45 2.77 3.68 3.09 3.45 Owner Earnings per Share (TTM)
1.01 1.66 1.96 1.79 1.74 1.84 2.24 1.33 2.60 3.47 2.91 2.96 3.33 2.89 3.79 3.75 3.98 Free Cashflow per Share
0.55 0.62 0.67 0.72 0.79 0.86 0.96 1.12 1.22 1.32 1.55 1.67 1.78 1.92 1.96 1.96 1.96 Dividends per Share
6.92 7.69 8.11 8.06 9.21 7.89 8.23 9.87 9.90 10.41 10.67 8.35 8.26 7.50 10.35 11.72 12.76 Book Value per Share
-6.70 -6.15 -6.30 -7.89 -6.44 -7.98 -7.47 -6.51 -9.97 -10.87 -11.65 -14.29 -13.99 -15.51 -25.91 -23.44 -22.15 Tangible Book per Share
10.85 8.39 8.50 9.40 10.37 10.79 9.79 10.68 11.46 12.44 14.35 15.35 14.13 16.44 26.67 24.07 22.88 Total Debt per Share
23.03 24.75 25.95 30.62 31.60 25.59 35.62 39.77 38.28 47.08 54.93 56.15 62.78 56.74 42.29 49.44 51.41 Month End Stock Price
Ratios
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
22.39 22.70 19.05 20.63 22.45 22.91 28.95 30.56 24.51 28.34 27.63 21.18 34.20 35.81 40.71 26.56 29.64 Return on Equity %
5.75 6.79 6.03 6.31 6.96 7.07 8.61 9.89 7.88 8.48 7.97 5.43 7.80 7.62 8.13 5.77 6.99 Return on Assets %
58.48 65.67 62.61 68.47 64.80 65.37 77.48 75.27 62.53 70.70 72.85 52.24 72.15 69.26 65.19 66.61 72.84 Return on Capital %
10.36 9.89 10.53 11.22 11.78 11.71 14.84 15.99 13.54 14.41 13.20 11.99 13.66 14.45 14.25 10.72 11.60 Return on Invested Capital %
3.56 2.86 3.90 6.50 5.43 4.56 3.96 4.21 2.32 2.50 3.76 5.50 5.17 4.66 6.11 6.34 5.37 Weighted Average Cost Of Capital (WACC) %
-- 6.73 6.97 6.96 6.39 5.75 5.46 5.31 5.05 4.28 3.80 3.66 3.54 3.37 3.05 3.48 3.42 Effective Interest Rate on Debt %
40.52 35.21 35.58 36.06 35.70 35.62 39.63 40.01 36.29 36.14 35.57 33.74 35.20 35.65 34.53 34.13 34.93 Gross Margin %
18.46 17.55 16.98 16.86 16.47 15.53 18.02 18.56 15.99 16.16 16.17 14.87 16.37 17.15 16.43 16.73 17.55 Operating Margin %
9.53 10.97 9.31 9.19 9.48 8.88 10.46 12.09 9.41 10.44 10.19 6.93 10.25 10.61 13.54 10.39 12.62 Net Margin %
7.52 12.03 12.67 10.38 8.85 8.61 10.46 5.93 10.39 13.01 10.48 10.38 12.29 11.08 14.09 13.46 14.45 FCF Margin %
1.57 1.09 1.05 1.17 1.13 1.37 1.19 1.08 1.16 1.19 1.34 1.84 1.71 2.19 2.58 2.05 1.79 Debt to Equity
0.28 0.31 0.32 0.29 0.33 0.29 0.31 0.34 0.30 0.29 0.28 0.23 0.23 0.20 0.20 0.23 0.25 Total Equity to Total Asset
0.45 0.34 0.34 0.34 0.37 0.40 0.36 0.37 0.35 0.35 0.38 0.42 0.39 0.44 0.52 0.48 0.45 Total Debt to Total Asset
24.46 21.81 23.06 24.75 26.19 28.35 32.63 32.75 30.40 29.36 27.81 26.45 26.78 25.58 20.73 18.96 19.34 Gross Profit to Total Asset %
0.60 0.62 0.65 0.69 0.73 0.80 0.82 0.82 0.84 0.81 0.78 0.78 0.76 0.72 0.60 0.56 0.55 Asset Turnover
0.42 0.40 0.46 0.45 0.42 0.45 0.43 0.42 0.52 0.47 0.55 0.85 0.64 0.69 0.54 0.68 0.56 Dividend Payout Ratio
33.30 33.38 28.42 27.96 28.92 23.69 25.98 28.51 29.00 29.70 30.24 28.71 29.99 33.42 39.05 36.35 38.55 Days Sales Outstanding
61.54 56.60 32.56 35.69 38.97 31.01 35.09 40.69 39.51 45.77 50.96 52.62 69.59 76.97 97.27 93.78 102 Days Accounts Payable
59.46 52.31 50.60 51.12 52.81 52.36 55.58 60.38 53.10 48.63 49.10 48.44 50.24 52.60 55.36 52.60 54.56 Days Inventory
31.22 29.09 46.46 43.39 42.76 45.04 46.47 48.20 42.59 32.56 28.38 24.53 10.64 9.05 -2.86 -4.83 -9.27 Cash Conversion Cycle
6.14 6.98 7.21 7.14 6.91 6.97 6.57 6.05 6.87 7.51 7.43 7.54 7.27 6.94 6.59 6.94 6.69 Inventory Turnover
0.59 0.65 0.64 0.64 0.64 0.64 0.60 0.60 0.64 0.64 0.64 0.66 0.65 0.64 0.65 0.66 0.65 COGS to Revenue
0.10 0.09 0.09 0.09 0.09 0.09 0.09 0.10 0.09 0.09 0.09 0.09 0.09 0.09 0.10 0.10 0.10 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GIS 2/7
Income Statement
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
11,070 11,308 11,711 12,442 13,652 14,691 14,636 14,880 16,658 17,774 17,910 17,630 16,563 15,620 15,740 16,865 16,783 Revenue
6,584 7,326 7,545 7,955 8,778 9,458 8,835 8,927 10,613 11,350 11,540 11,681 10,734 10,052 10,305 11,108 10,920 Cost of Goods Sold
4,486 3,982 4,167 4,486 4,874 5,234 5,800 5,954 6,045 6,424 6,370 5,949 5,830 5,568 5,436 5,757 5,863 Gross Profit
40.52 35.21 35.58 36.06 35.70 35.62 39.63 40.01 36.29 36.14 35.57 33.74 35.20 35.65 34.53 34.13 34.93 Gross Margin %
2,443 1,998 2,178 2,389 2,625 2,952 3,163 3,192 3,381 3,552 3,474 3,328 3,119 2,889 2,850 2,936 2,918 Selling, General, & Admin. Expense
-- -- 0.00 -0.00 -- -- -- -- -- -0.00 -- -- -- -- 0.00 -- -0.00 Other Operating Expense
2,043 1,984 1,989 2,097 2,249 2,282 2,638 2,762 2,664 2,872 2,896 2,621 2,711 2,679 2,586 2,821 2,945 Operating Income
18.46 17.55 16.98 16.86 16.47 15.53 18.02 18.56 15.99 16.16 16.17 14.87 16.37 17.15 16.43 16.73 17.55 Operating Margin %
-- 30.00 26.80 31.00 27.30 21.60 6.80 7.40 9.90 12.60 16.10 13.20 8.10 7.00 11.70 5.60 -- Interest Income
-- -485 -426 -427 -422 -404 -368 -354 -362 -330 -319 -329 -312 -302 -385 -527 -499 Interest Expense
-- -455 -400 -427 -422 -383 -362 -346 -352 -317 -302 -315 -304 -295 -374 -522 -494 Net Interest Income
-534 278 -29.80 -39.30 -21.00 43.30 -71.50 13.00 -102 -19.80 61.90 -544 -3.20 -113 -76.20 -217 2.20 Other Income (Expense)
-- -39.00 -- -- -- -9.30 -4.50 -5.20 -21.80 -37.30 -36.90 -38.10 -39.40 -43.60 -32.00 -33.50 -40.60 Other Income (Minority Interest)
1,509 1,807 1,559 1,631 1,806 1,942 2,205 2,428 2,211 2,535 2,655 1,762 2,404 2,271 2,136 2,082 2,454 Pre-Tax Income
-528 -661 -538 -560 -622 -720 -771 -721 -710 -741 -883 -587 -755 -655 -57.30 -368 -373 Tax Provision
34.99 36.58 34.52 34.33 34.45 37.09 34.98 29.70 32.10 29.24 33.27 33.30 31.42 28.85 2.68 17.67 15.21 Tax Rate %
1,055 1,240 1,090 1,144 1,295 1,314 1,535 1,804 1,589 1,893 1,861 1,259 1,737 1,701 2,163 1,786 2,159 Net Income (Continuing Operations)
1,055 1,240 1,090 1,144 1,295 1,304 1,531 1,798 1,567 1,855 1,824 1,221 1,697 1,658 2,131 1,753 2,118 Net Income
9.53 10.97 9.31 9.19 9.48 8.88 10.46 12.09 9.41 10.44 10.19 6.93 10.25 10.61 13.54 10.39 12.62 Net Margin %
1.41 1.67 1.53 1.65 1.93 1.96 2.32 2.80 2.42 2.86 2.90 2.02 2.83 2.82 3.69 2.92 3.51 EPS (Basic)
1.30 1.54 1.45 1.59 1.86 1.90 2.24 2.70 2.35 2.79 2.83 1.97 2.77 2.77 3.64 2.90 3.48 EPS (Diluted)
826 818 758 720 694 687 683 665 667 666 646 619 612 598 586 605 612 Shares Outstanding (Diluted
Average)
399 443 424 418 459 454 457 473 542 588 585 588 608 604 619 620 618 Depreciation, Depletion and
Amortization
2,442 2,735 2,410 2,476 2,687 2,800 3,030 3,255 3,114 3,452 3,559 2,679 3,324 3,177 3,140 3,230 3,351 EBITDA
Balance Sheet
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
751 573 647 417 661 750 673 620 471 741 867 334 764 766 399 450 560 Cash And Cash Equivalents
-- -- -- 6.50 -- 23.40 -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
751 573 647 424 661 773 673 620 471 741 867 334 764 766 399 450 560 Cash, Cash Equivalents, Marketable
Securities
1,010 1,034 912 953 1,082 953 1,042 1,162 1,324 1,446 1,484 1,387 1,361 1,430 1,684 1,680 1,773 Accounts Receivable
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GIS 3/7
234 214 304 354 480 400 355 504 490 539 516 487 470 468 491 527 497 Inventories, Raw Materials &
Components
-41.00 -45.00 -62.00 -78.10 -126 -149 -142 -169 -223 -222 -217 -214 -219 -209 -213 -214 -211 Inventories, Inventories
Adjustments
793 795 813 898 1,012 1,096 1,131 1,274 1,212 1,229 1,260 1,269 1,163 1,224 1,364 1,246 1,434 Inventories, Finished Goods
77.00 73.00 -- -- -- -- -0.00 -- -- -0.00 -- 0.00 -- -- -- -0.00 -- Inventories, Other
1,063 1,037 1,055 1,173 1,367 1,347 1,344 1,609 1,479 1,546 1,559 1,541 1,414 1,484 1,642 1,559 1,720 Total Inventories
391 411 315 295 511 269 421 268 280 325 296 194 195 183 183 205 427 Other Current Assets
3,215 3,055 3,041 3,054 3,620 3,535 3,480 3,902 3,691 4,299 4,394 3,686 3,937 4,061 4,124 4,187 4,479 Total Current Assets
-- -- -- 295 -- 283 -- 519 628 567 576 561 532 505 500 453 -- Investments And Advances
5,319 54.00 54.00 60.70 61.20 55.20 58.00 61.20 75.90 101 107 96.00 92.90 79.80 77.70 73.60 -- Land And Improvements
-- 1,396 1,430 1,519 1,550 1,572 1,654 1,803 1,981 2,169 2,229 2,273 2,236 2,250 2,397 2,478 -- Buildings And Improvements
-- 3,722 3,859 4,217 4,451 4,592 4,724 5,106 5,685 6,168 6,457 6,600 6,472 6,644 6,836 7,186 -- Machinery, Furniture, Equipment
-- 196 252 276 344 349 469 522 543 495 601 622 703 553 693 344 -- Construction In Progress
5,319 5,670 5,806 6,096 6,471 6,621 6,950 7,492 8,285 8,933 9,393 9,591 9,504 9,527 10,003 10,081 3,589 Gross Property, Plant and Equipment
-2,208 -2,559 -2,809 -3,082 -3,363 -3,586 -3,822 -4,146 -4,632 -5,055 -5,451 -5,808 -5,760 -5,839 -5,956 -6,293 -- Accumulated Depreciation
3,111 3,111 2,997 3,014 3,108 3,035 3,128 3,346 3,653 3,878 3,942 3,783 3,744 3,688 4,047 3,787 3,589 Property, Plant and Equipment
10,325 10,216 10,259 10,529 10,563 10,410 10,308 10,564 12,887 13,637 13,665 13,552 13,280 13,278 21,510 21,163 21,107 Intangible Assets
-- -- 6,652 6,835 6,786 6,663 6,593 6,751 8,183 8,622 8,651 8,875 8,741 8,747 14,065 13,996 13,974 Goodwill
1,797 1,684 1,778 1,292 1,750 612 763 343 237 276 570 250 220 281 443 522 1,278 Other Long Term Assets
18,448 18,066 18,075 18,184 19,042 17,875 17,679 18,675 21,097 22,658 23,146 21,832 21,712 21,813 30,624 30,111 30,452 Total Assets
1,110 1,136 673 778 937 803 850 995 1,149 1,423 1,611 1,684 2,047 2,120 2,746 2,854 3,063 Accounts Payable
-- -- -- 861 -- 168 -- 80.40 39.20 88.00 63.10 20.70 111 58.00 94.80 37.50 -- Total Tax Payable
1,110 1,136 673 2,217 937 1,627 1,898 2,027 2,267 2,939 2,792 2,874 3,257 3,110 3,821 3,847 3,063 Accounts Payable & Accrued
Expense
816 1,937 3,634 2,988 2,651 1,321 1,157 1,343 1,268 2,043 2,362 1,616 1,373 1,839 3,150 2,865 2,882 Current Portion of Long-Term Debt
-- -- -- 6.80 -- 19.30 -- -- -- -- -- -- -- -- -- -- -- Current Deferred Revenue
-- -- -- -- 28.40 -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- 6.80 28.40 19.30 -- -- -- -- -- -- -- -- -- -- -- DeferredTaxAndRevenue
831 1,111 1,831 633 1,240 639 714 290 309 312 269 400 385 382 371 375 1,417 Other Current Liabilities
2,757 4,184 6,138 5,845 4,856 3,606 3,769 3,659 3,843 5,294 5,424 4,890 5,015 5,331 7,342 7,087 7,362 Total Current Liabilities
7,410 4,255 2,415 3,218 4,349 5,755 5,269 5,543 6,162 5,926 6,424 7,575 7,058 7,643 12,669 11,625 10,953 Long-Term Debt
7,410 4,255 2,415 3,218 4,349 5,755 5,269 5,543 6,162 5,926 6,424 7,575 7,058 7,643 12,669 11,625 10,953 Long-Term Debt & Capital Lease
Obligation
1.57 1.09 1.05 1.17 1.13 1.37 1.19 1.08 1.16 1.19 1.34 1.84 1.71 2.19 2.58 2.05 1.79 Debt to Equity
-- -- -- 988 -- 1,051 1,588 1,413 1,853 1,560 1,342 1,451 1,755 1,250 999 1,153 -- PensionAndRetirementBenefit
1,773 1,851 1,690 1,433 1,455 1,165 875 1,127 1,171 1,389 1,666 1,450 1,400 1,719 2,004 2,031 2,016 NonCurrent Deferred Liabilities
299 1,133 1,136 1,139 242 244 245 247 461 456 471 396 377 358 351 313 308 Minority Interest
961 967 924 242 1,924 881 531 320 1,185 1,360 1,285 1,072 1,178 1,184 1,118 847 2,101 Other Long-Term Liabilities
12,901 11,257 11,167 11,726 12,584 12,458 12,031 12,062 14,214 15,530 16,140 16,439 16,405 17,127 24,132 22,744 22,432 Total Liabilities
5,680 50.00 50.00 50.20 37.70 75.50 75.50 75.50 75.50 75.50 75.50 75.50 75.50 75.50 75.50 75.50 75.50 Common Stock
3,722 4,501 5,107 5,745 6,511 7,236 8,122 9,191 9,959 10,703 11,787 11,991 12,617 13,139 14,460 14,997 15,502 Retained Earnings
-233 -106 41.00 -120 177 -878 -1,487 -1,011 -1,744 -1,585 -1,340 -2,311 -2,612 -2,245 -2,429 -2,625 -2,590 Accumulated other comprehensive
income (loss)
-- 5,691 5,737 5,841 1,149 1,212 1,307 1,320 1,308 1,167 1,232 1,297 1,177 1,121 1,203 1,387 1,387 Additional Paid-In Capital
-3,921 -4,460 -5,163 -6,198 -1,658 -2,473 -2,615 -3,210 -3,177 -3,687 -5,219 -6,056 -6,327 -7,763 -7,168 -6,779 -6,662 Treasury Stock
5,248 5,676 5,772 5,319 6,216 5,172 5,403 6,366 6,422 6,672 6,535 4,997 4,930 4,328 6,141 7,055 7,712 Total Equity
0.28 0.31 0.32 0.29 0.33 0.29 0.31 0.34 0.30 0.29 0.28 0.23 0.23 0.20 0.20 0.23 0.25 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GIS 4/7
Cashflow Statement
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
1,055 1,240 1,090 1,144 1,318 1,314 1,535 1,804 1,589 1,893 1,861 1,259 1,737 1,701 2,163 1,786 2,159 Net Income
1,055 1,240 1,090 1,144 1,318 1,314 1,535 1,804 1,589 1,893 1,861 1,259 1,737 1,701 2,163 1,786 2,159 Net Income From Continuing
Operations
399 443 424 418 459 454 457 473 542 588 585 588 608 604 619 620 618 Depreciation, Depletion and
Amortization
-22.00 -8.00 8.90 -24.20 -94.10 81.80 -121 -69.80 -24.20 -44.60 -41.00 6.80 -6.90 -69.20 -123 -42.70 -75.70 Change In Receivables
24.00 30.00 -5.60 -116 -165 -28.10 -16.70 -240 145 18.70 -88.30 -24.20 -146 -61.50 15.60 53.70 -98.20 Change In Inventory
-15.00 1.00 -35.70 -44.90 -65.90 30.20 53.50 -96.00 149 -64.30 10.50 -50.50 -0.10 16.60 -10.70 -114 -92.00 Change In Prepaid Assets
-161 -35.00 -27.50 87.80 125 -116 69.60 109 12.10 264 192 146 319 99.50 575 162 264 Change In Payables And Accrued
Expense
-186 251 184 149 -127 177 143 -721 244 471 -32.20 215 299 -194 542 -7.50 -99.80 Change In Working Capital
109 71.00 66.80 -47.10 42.40 127 -91.70 99.10 86.30 -21.20 103 -49.30 121 184 -504 93.50 39.80 Change In DeferredTax
-- 38.00 44.60 127 133 118 107 105 108 100 109 106 89.80 95.70 77.00 84.90 88.20 Stock Based Compensation
84.00 -333 4.20 -78.70 -94.60 -392 6.70 -227 -162 -105 -85.20 423 -89.60 25.10 -55.60 230 62.20 Cash Flow from Others
1,461 1,794 1,844 1,751 1,730 1,828 2,181 1,531 2,407 2,926 2,541 2,543 2,764 2,415 2,841 2,807 2,867 Cash Flow from Operations
-628 -434 -360 -460 -522 -563 -650 -649 -676 -614 -664 -712 -729 -684 -623 -538 -442 Purchase Of Property, Plant,
Equipment
36.00 24.00 11.30 27.30 25.90 4.10 7.40 4.10 2.20 24.20 6.60 11.00 4.40 4.20 1.40 14.30 3.60 Sale Of Property, Plant, Equipment
-- -- -- -85.00 -- -- -- -123 -1,050 -898 -- -822 -84.00 -- -8,036 -- -- Purchase Of Business
-- 799 -- -- 0.60 245 -- 34.40 -- -- 122 -- 829 17.50 -- 26.40 -- Sale Of Business
-7.00 -1.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Purchase Of Investment
129 33.00 79.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Investment
-- -8.00 -100 -79.20 53.10 24.90 -78.70 18.50 -147 -27.70 -26.50 -78.50 73.80 15.80 -28.30 -59.60 14.90 Cash From Other Investing Activities
-470 413 -370 -597 -442 -289 -721 -715 -1,871 -1,515 -562 -1,602 93.40 -647 -8,685 -557 -424 Cash Flow from Investing
192 195 -- 317 284 305 389 410 234 301 108 164 -- -- 970 -- 224 Issuance of Stock
-24.00 -576 -728 -1,321 -2,425 -1,296 -692 -1,164 -313 -1,045 -1,745 -1,162 -607 -1,652 -602 -1.10 -0.90 Repurchase of Stock
-695 -2,170 -189 327 773 89.20 -671 450 168 414 801 598 -782 1,035 6,277 -1,221 -1,368 Net Issuance of Debt
-413 -461 -485 -505 -530 -580 -644 -729 -800 -868 -983 -1,018 -1,072 -1,135 -1,140 -1,182 -1,189 Cash Flow for Dividends
-3.00 822 -3.10 -216 805 77.00 503 502 278 358 103 197 40.10 4.70 -60.50 227 148 Other Financing
-943 -2,385 -1,404 -1,398 -1,093 -1,405 -1,504 -941 -667 -1,140 -1,824 -1,385 -2,420 -1,747 5,446 -2,176 -2,409 Cash Flow from Financing
48.00 -178 74.10 -230 244 88.80 -76.60 -53.60 -148 270 126 -533 430 2.40 -367 51.00 27.50 Net Change in Cash
-628 -434 -360 -460 -522 -563 -650 -649 -676 -614 -664 -712 -729 -684 -623 -538 -442 Capital Expenditure
833 1,360 1,484 1,291 1,208 1,266 1,531 882 1,731 2,312 1,878 1,830 2,035 1,731 2,218 2,269 2,425 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GIS 5/7
Valuation Ratios
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
17.19 16.02 17.90 19.20 17.08 13.47 15.97 14.78 16.29 16.87 19.41 28.50 22.66 20.48 11.62 17.05 14.77 PE Ratio(TTM)
20.04 13.37 14.18 18.65 18.04 10.60 15.53 22.84 13.36 13.36 18.21 24.90 18.22 20.50 11.48 15.98 14.88 Price to Owner Earnings
(TTM)
3.33 3.22 3.20 3.80 3.43 3.25 4.33 4.03 3.87 4.52 5.15 6.73 7.60 7.56 4.08 4.22 4.03 Price to Book
23.40 14.96 13.04 17.05 18.23 13.74 15.93 29.83 14.73 13.54 18.81 18.91 18.86 19.53 11.15 13.19 12.93 Price-to-Free-Cash-Flow
Ratio
13.10 11.36 10.49 12.58 12.72 9.53 11.18 17.23 10.60 10.70 13.90 13.62 13.89 14.01 8.71 10.67 10.93 Price-to-Operating-Cash-
Flow Ratio
1.67 1.79 1.67 1.77 1.61 1.20 1.66 1.78 1.53 1.76 1.98 1.97 2.32 2.17 1.57 1.77 1.87 PS Ratio
1.76 1.92 2.16 2.60 3.33 2.57 2.49 2.08 2.60 2.69 3.82 6.31 41.20 22.51 48.42 11.00 11.38 PEG Ratio
2.28 2.21 2.14 2.18 2.04 1.59 2.01 2.16 1.94 2.13 2.35 2.43 2.75 2.68 2.60 2.62 2.66 EV-to-Revenue
10.33 9.15 10.38 10.96 10.39 8.35 10.69 9.88 10.36 10.96 11.81 16.00 13.69 13.16 13.01 13.66 13.33 EV-to-EBITDA
12.35 10.92 12.60 13.19 12.53 9.97 12.83 11.56 12.54 13.21 14.13 20.51 16.76 16.25 16.21 16.90 16.34 EV-to-EBIT
8.10 9.16 7.94 7.58 7.98 10.03 7.79 8.65 7.97 7.57 7.08 4.88 5.97 6.15 6.17 5.92 6.12 Return on Capital %
13.43 12.81 13.31 15.21 10.26 12.38 11.93 11.69 11.40 11.27 9.69 9.22 5.22 6.40 7.80 8.35 9.54 Forward Rate of Return
23.22 22.47 21.69 23.60 21.73 16.82 21.68 21.75 19.06 21.67 23.59 24.04 25.50 21.85 14.99 16.79 17.42 Shiller PE Ratio
2.40 2.51 2.58 2.35 2.48 3.36 2.70 2.82 3.19 2.80 2.82 2.97 2.84 3.38 4.63 3.96 3.83 Dividend Yield %
Valuation and Quality
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
17,457 18,266 18,476 20,221 21,330 16,787 23,385 25,644 24,825 30,169 33,634 33,617 37,467 32,733 25,082 29,758 31,094 Market Cap
25,231 25,018 25,014 27,142 27,911 23,334 29,382 32,156 32,244 37,853 42,023 42,870 45,511 41,807 40,853 44,111 44,677 Enterprise Value
23.03 24.75 25.95 30.62 31.60 25.59 35.62 39.77 38.28 47.08 54.93 56.15 62.78 56.74 42.29 49.44 51.41 Month End Stock Price
-16.42 -16.01 -16.37 -18.84 -18.02 -18.18 -17.67 -18.13 -21.90 -23.79 -25.71 -27.56 -26.84 -28.98 -40.61 -37.56 -36.69 Net Cash (per share)
-13.17 -12.65 -13.01 -14.86 -13.64 -13.98 -13.40 -13.04 -16.94 -18.24 -19.95 -21.96 -21.52 -23.27 -34.33 -31.35 -30.20 Net Current Asset Value
(per share)
-14.72 -14.26 -14.67 -16.87 -15.81 -16.07 -15.46 -15.53 -19.23 -20.89 -22.62 -24.54 -23.95 -25.84 -37.09 -34.17 -33.06 Net-Net Working Capital (per
share)
13.75 17.87 23.30 22.01 25.64 28.91 29.59 29.69 29.42 32.12 36.09 34.43 34.16 36.92 40.39 40.39 42.52 Projected FCF (per share)
25.20 25.62 28.79 31.10 34.48 36.82 36.55 37.80 41.87 44.49 46.79 48.24 46.31 45.03 48.11 50.53 51.05 Median PS (per share)
13.09 12.87 12.02 11.77 9.49 9.96 14.29 19.10 14.73 17.49 14.38 -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
11.64 12.28 10.86 11.58 12.55 13.85 15.98 17.77 18.23 20.11 21.94 21.12 22.44 21.69 12.86 16.47 18.94 Earnings Power Value
(EPV)
2.00 2.20 2.15 2.35 2.52 2.62 3.05 3.27 2.89 2.98 3.11 3.05 3.30 3.03 1.94 2.21 2.30 Altman Z-Score
6.00 7.00 7.00 7.00 7.00 6.00 7.00 7.00 5.00 6.00 4.00 4.00 8.00 5.00 5.00 5.00 6.00 Piotroski F-Score
-2.54 -2.52 -2.82 -2.59 -2.47 -2.77 -2.61 -2.31 -2.42 -2.63 -2.61 -2.70 -2.75 -2.59 -2.36 -2.59 -2.56 Beneish M-Score
0.71 0.67 0.68 0.68 0.70 0.62 0.64 0.73 0.74 0.68 0.66 0.62 0.59 0.62 1.01 0.70 0.70 Scaled Net Operating
Assets
0.35 -5.35 -2.12 -0.06 0.04 -1.31 0.40 5.26 4.89 1.96 -0.67 1.29 -5.34 -0.51 26.04 -1.65 -1.07 Sloan Ratio (%)
1.17 0.73 0.50 0.52 0.75 0.98 0.92 1.07 0.96 0.81 0.81 0.75 0.79 0.76 0.56 0.59 0.61 Current Ratio
0.78 0.48 0.32 0.32 0.46 0.61 0.57 0.63 0.58 0.52 0.52 0.44 0.50 0.48 0.34 0.37 0.37 Quick Ratio
24.83 26.68 26.05 30.62 31.60 35.08 36.96 39.95 41.05 50.93 54.93 57.14 65.36 72.64 60.20 53.43 56.40 Highest Stock Price
22.00 21.65 22.34 24.73 26.43 23.61 25.59 33.57 34.95 37.55 46.86 48.86 54.12 55.91 41.21 36.70 46.19 Lowest Stock Price
-2.43 2.64 3.52 7.25 -2.21 2.81 -0.08 1.78 -0.57 1.19 4.45 2.22 0.32 3.33 -2.81 -1.48 -1.32 Shares Buyback Ratio (%)
-3.56 3.15 11.82 11.72 13.94 8.66 0.17 4.50 11.63 6.88 3.87 2.72 -4.99 -3.50 2.89 3.66 0.85 YoY Rev. per Sh. Growth
(%)
7.00 18.46 -5.84 9.66 16.67 2.43 17.89 20.54 -12.96 18.72 1.43 -30.39 40.61 -- 31.41 -20.33 1.46 YoY EPS Growth (%)
-2.41 13.13 -4.87 8.02 12.72 5.22 8.81 10.40 -4.60 11.07 6.27 -21.46 25.48 -2.19 0.90 -0.50 2.65 YoY EBITDA Growth (%)
9.77 8.33 8.29 7.38 5.13 5.24 6.41 7.10 6.27 6.27 5.08 4.52 0.55 0.91 0.24 1.55 1.30 EBITDA 5-Y Growth (%)
750 742 715 693 666 664 660 643 648 649 629 603 599 587 577 600 607 Shares Outstanding (Basic
Average)
758 738 712 660 675 656 657 645 649 641 612 599 597 577 593 602 605 Shares Outstanding (EOP)
0.12 0.02 -0.09 0.38 0.31 0.27 0.27 0.20 0.06 0.04 0.26 0.71 0.68 0.52 0.75 0.90 0.89 Beta
07/29/04 07/28/05 07/27/06 07/13/09 07/13/09 07/13/09 07/09/10 07/08/11 07/03/12 07/03/13 07/03/14 07/06/15 06/30/16 06/29/17 06/29/18 06/28/19 Filing Date
07/28/05 05/27/07 05/25/08 07/13/09 07/13/09 07/09/10 07/08/11 07/03/13 07/03/14 07/06/15 06/30/16 06/29/17 06/29/18 06/28/19 06/28/19 06/28/19 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GIS 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GIS 7/7
Microsoft Corp (NAS:MSFT) 03/02/2020 4:00PM EST GuruFocus
Price: $ 172.79 +10.78(+6.65%) Market Cap: $ 1.31 T Enterprise Value: $1.26 T Stock PDF
Financial Strength : 6/10 Profitability & Growth : 10/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 30.10
Cash to Debt 1.75 Operating margin (%) 36.74
Forward P/E N/A
Equity to Asset 0.39 Net-margin (%) 33.02
PE(NRI) 30.10
Interest Coverage 18.75 ROE (%) 43.84
F-Score:
P/B 11.94
ROA (%) 16.17
8 P/S 9.93
Z-Score: ROC (Joel Greenblatt) (%) 119.60
6.26 PFCF 32.88
Revenue Growth (3Y)(%) 12.60
M-Score: POCF 24.65
-2.51 EBITDA Growth (3Y)(%) 21.40
EV-to-EBIT 23.95
WACC vs 6.96% EPS Growth (3Y)(%) 25.50
ROIC 95.03% PEG 1.75
WACC
ROIC Shiller P/E 58.52
Current Ratio 2.80
Quick Ratio 2.77
Days Inventory 17.55
Days Sales Outstanding 63.96
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and
Dividend Yield %: Close to
Office productivity suite. The company is organized into three overarching segments: productivity and business
10-year low 2016 20,531 26,448 21,928 25,826 94,733 processes (legacy Microsoft Office, cloud-based Office 365, Exchange, SharePoint, Skype, LinkedIn, Dynamics),
2017 23,212 25,605 24,538 28,918 102,273 intelligence cloud (infrastructure- and platform-as-a-service offerings Azure, Windows Server OS, SQL Server), and
Price: Close to 10-year high more personal computing (Windows Client, Xbox, Bing search, display advertising, and Surface laptops, tablets, and
2018 26,819 30,085 29,084 32,471 118,459 desktops). Through acquisitions, Microsoft owns Xamarin, LinkedIn, and GitHub. It reports revenue in product and
PB Ratio: Close to 10-year 2019 30,571 33,717 33,055 36,906 134,249 service and other revenue on its income statement.... (Read More)
high 2020 Competitors: NAS:ADBE, NYSE:ORCL , NYSE:VMW, NYSE:SQ, XAMS:ADYEN, SHSE:601360 , NYSE:FLT,
NAS:SPLK, NAS:VRSN, NYSE:PANW, NYSE:TSS, NAS:SNPS, NAS:FTNT, NAS:AKAM, NAS:OKTA, XPAR:WLN,
PS Ratio: Close to 10-year Quarterly Earnings per Share NYSE:GDDY, NAS:CRWD, NAS:NLOK, NYSE:PAGS
high
Mar Jun Sep Dec Full Year Insider Trades
Insider Sell: Insider Selling 2016 0.47 0.39 0.72 0.80 2.38
2017 0.70 0.83 0.84 -0.82 1.55
2018 0.95 1.14 1.14 1.08 4.31
Good Signs 2019 1.14 1.71 1.38 1.51 5.74
Piotroski F-Score: High 2020
Revenue per Share: Quarterly Dividends Per Share
Consistent growth Mar Jun Sep Dec Full Year
Operating Margin %: 2016 0.36 0.36 0.36 0.39 1.47
Expansion 2017 0.39 0.39 0.39 0.42 1.59
2018 0.42 0.42 0.42 0.46 1.72
2019 0.46 0.46 0.46 0.51 1.89
DCF 2020
EPS without NRI: $5.74 Growth Rate
Growth Rate in the next 10
years: 5.90% Annual Rates(per share) 10-Y 5-Y 12-M
Terminal Growth Rate for 10 Revenue Growth (%) 8.90 9.00 14.20
years: 4% EBITDA Growth (%) 9.40 17.20 21.10
Fair Value: $65.04
Free Cash Flow Growth (%) 7.50 10.50 28.10
Book Value Growth (%) 9.80 4.30 20.60
Reverse DCF EPS Growth (%) 5.90 14.10 33.20
Expected eps Growth Rate:
20.84%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSFT 1/7
Per Share Data
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
3.38 3.65 4.21 5.17 6.38 6.50 7.00 8.14 8.67 9.19 10.34 11.34 11.38 12.33 14.16 16.23 17.39 Revenue per Share
0.94 1.41 1.65 2.01 2.74 2.49 3.12 3.62 3.01 3.69 4.00 3.06 4.18 5.22 6.35 7.49 8.36 EBITDA per Share
0.83 1.34 1.56 1.87 2.53 2.21 2.82 3.30 2.66 3.25 3.38 2.34 3.36 4.10 5.03 5.98 6.80 EBIT per Share
0.75 1.12 1.20 1.42 1.87 1.62 2.10 2.69 2.00 2.58 2.63 1.48 2.56 3.25 2.13 5.06 5.74 Earnings per Share (diluted)
0.75 1.12 1.20 1.42 1.87 1.62 2.10 2.69 2.00 2.58 2.63 1.48 2.56 3.25 2.13 5.06 5.74 eps without NRI
0.77 1.14 1.02 1.43 4.38 1.76 5.55 6.07 6.41 7.81 8.28 7.57 3.27 4.24 4.60 5.23 5.37 Owner Earnings per Share (TTM)
1.24 1.45 1.22 1.57 1.95 1.77 2.48 2.87 3.45 2.90 3.22 2.87 3.12 4.01 4.14 4.94 5.26 Free Cashflow per Share
0.16 0.32 0.34 0.39 0.43 0.50 0.52 0.61 0.76 0.89 1.07 1.21 1.39 1.53 1.65 1.80 1.89 Dividends per Share
6.89 4.49 3.99 3.32 3.97 4.44 5.33 6.82 7.92 9.48 10.90 9.98 9.22 11.38 10.78 13.39 14.47 Book Value per Share
6.55 4.14 3.55 2.72 2.43 2.84 3.76 5.22 5.94 7.35 7.61 7.26 6.45 5.51 5.08 6.88 7.98 Tangible Book per Share
-- -- -- -- -- 0.65 0.69 1.42 1.43 1.87 2.75 4.40 6.85 11.88 10.66 10.25 10.09 Total Debt per Share
28.80 24.84 23.30 29.47 27.51 23.77 23.01 26.00 30.59 34.55 41.70 44.15 51.17 68.93 98.61 134 173 Month End Stock Price
Ratios
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
11.69 19.93 28.56 39.51 52.48 38.42 43.76 44.84 27.51 30.09 26.17 14.36 27.01 31.92 19.45 42.41 43.84 Return on Equity %
9.28 14.84 17.95 21.19 26.01 19.34 22.88 23.77 14.77 16.58 14.02 7.03 11.16 11.49 6.51 14.39 16.17 Return on Assets %
397 623 611 499 452 288 332 359 276 301 247 139 162 132 118 116 120 Return on Capital %
40.20 87.25 139 189 163 113 124 142 135 132 100 81.46 140 85.46 41.34 99.40 95.03 Return on Invested Capital %
11.79 10.51 8.52 12.38 11.57 9.86 8.88 8.84 7.66 8.34 6.49 6.95 7.38 9.84 9.47 7.65 6.96 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 1.32 2.58 3.30 3.18 3.12 3.12 2.70 2.80 3.06 3.15 3.35 3.38 Effective Interest Rate on Debt %
81.77 84.84 82.72 79.08 80.80 79.20 80.16 77.73 76.22 73.81 68.82 64.70 64.04 64.52 65.25 65.90 67.71 Gross Margin %
24.53 36.60 37.20 36.07 36.86 34.85 38.57 38.83 37.92 34.38 32.11 30.10 29.83 30.37 31.77 34.14 36.74 Operating Margin %
22.17 30.80 28.45 27.51 29.26 24.93 30.02 33.10 23.03 28.08 25.42 13.03 22.53 26.39 15.02 31.18 33.02 Net Margin %
36.70 39.69 28.96 30.38 30.50 27.24 35.36 35.23 39.77 31.57 31.11 25.35 27.41 32.49 29.22 30.40 30.23 FCF Margin %
-- -- -- -- -- 0.15 0.13 0.21 0.18 0.20 0.25 0.44 0.74 1.04 0.99 0.77 0.70 Debt to Equity
0.79 0.68 0.58 0.49 0.50 0.51 0.54 0.53 0.55 0.55 0.52 0.46 0.37 0.35 0.32 0.36 0.39 Total Equity to Total Asset
-- -- -- -- -- 0.07 0.07 0.11 0.10 0.11 0.13 0.20 0.28 0.37 0.32 0.27 0.27 Total Debt to Total Asset
34.21 40.87 52.18 60.90 71.82 61.43 61.08 55.81 48.87 43.58 37.96 34.91 31.73 28.08 28.28 30.41 33.17 Gross Profit to Total Asset %
0.42 0.48 0.63 0.77 0.89 0.78 0.76 0.72 0.64 0.59 0.55 0.54 0.50 0.44 0.43 0.46 0.49 Asset Turnover
0.21 0.29 0.28 0.28 0.23 0.31 0.25 0.23 0.38 0.35 0.41 0.82 0.54 0.47 0.78 0.36 0.33 Dividend Payout Ratio
58.36 65.87 76.79 80.95 82.09 69.91 76.02 78.21 78.13 81.98 82.15 69.85 73.18 84.78 87.58 85.63 63.96 Days Sales Outstanding
93.32 126 139 111 127 99.82 119 98.34 86.93 86.45 100 72.82 76.81 78.73 82.01 79.80 74.19 Days Accounts Payable
28.83 27.60 46.97 44.46 33.23 25.55 21.45 24.74 26.12 27.53 30.99 30.72 28.69 23.61 23.05 20.10 17.55 Days Inventory
-6.13 -32.78 -15.04 14.58 -11.63 -4.36 -21.06 4.61 17.32 23.06 12.96 27.75 25.06 29.66 28.62 25.93 7.32 Cash Conversion Cycle
12.66 13.23 7.77 8.21 10.98 14.28 17.01 14.75 13.97 13.26 11.78 11.88 12.72 15.46 15.84 18.16 20.80 Inventory Turnover
0.18 0.15 0.17 0.21 0.19 0.21 0.20 0.22 0.24 0.26 0.31 0.35 0.36 0.35 0.35 0.34 0.32 COGS to Revenue
0.01 0.01 0.02 0.03 0.02 0.02 0.01 0.02 0.02 0.02 0.03 0.03 0.03 0.02 0.02 0.02 0.02 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSFT 2/7
Income Statement
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
36,835 39,788 44,282 51,122 60,420 58,437 62,484 69,943 73,723 77,849 86,833 93,580 91,154 96,571 110,360 125,843 134,249 Revenue
6,716 6,031 7,650 10,693 11,598 12,155 12,395 15,577 17,530 20,385 27,078 33,038 32,780 34,261 38,353 42,910 43,346 Cost of Goods Sold
30,119 33,757 36,632 40,429 48,822 46,282 50,089 54,366 56,193 57,464 59,755 60,542 58,374 62,310 72,007 82,933 90,903 Gross Profit
81.77 84.84 82.72 79.08 80.80 79.20 80.16 77.73 76.22 73.81 68.82 64.70 64.04 64.52 65.25 65.90 67.71 Gross Margin %
13,306 13,099 13,576 14,870 18,387 16,909 17,277 18,162 18,426 20,289 20,488 20,324 19,198 19,942 22,223 23,098 23,583 Selling, General, & Admin. Expense
7,779 6,097 6,584 7,121 8,164 9,010 8,714 9,043 9,811 10,411 11,381 12,046 11,988 13,037 14,726 16,876 17,997 Research & Development
9,034 14,561 16,472 18,438 22,271 20,363 24,098 27,161 27,956 26,764 27,886 28,172 27,188 29,331 35,058 42,959 49,323 Operating Income
24.53 36.60 37.20 36.07 36.86 34.85 38.57 38.83 37.92 34.38 32.11 30.10 29.83 30.37 31.77 34.14 36.74 Operating Margin %
-- -- 1,510 1,319 888 744 -- 900 -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -- -106 -38.00 -151 -295 -380 -429 -597 -781 -1,243 -2,222 -2,733 -2,686 -2,631 Interest Expense
-- -- 1,510 1,319 -106 706 -151 -295 -380 -429 -597 -781 -1,243 -2,222 -2,733 -2,686 -2,631 Net Interest Income
3,162 2,067 280 344 1,649 -1,248 1,066 1,205 -5,309 717 531 -8,884 -306 2,792 4,149 3,415 3,161 Other Income (Expense)
12,196 16,628 18,262 20,101 23,814 19,821 25,013 28,071 22,267 27,052 27,820 18,507 25,639 29,901 36,474 43,688 49,853 Pre-Tax Income
-4,028 -4,374 -5,663 -6,036 -6,133 -5,252 -6,253 -4,921 -5,289 -5,189 -5,746 -6,314 -5,100 -4,412 -19,903 -4,448 -5,530 Tax Provision
33.03 26.31 31.01 30.03 25.75 26.50 25.00 17.53 23.75 19.18 20.65 34.12 19.89 14.76 11.09 Tax Rate %
54.57 10.18
8,168 12,254 12,599 14,065 17,681 14,569 18,760 23,150 16,978 21,863 22,074 12,193 20,539 25,489 16,571 39,240 44,323 Net Income (Continuing Operations)
8,168 12,254 12,599 14,065 17,681 14,569 18,760 23,150 16,978 21,863 22,074 12,193 20,539 25,489 16,571 39,240 44,323 Net Income
22.17 30.80 28.45 27.51 29.26 24.93 30.02 33.10 23.03 28.08 25.42 13.03 22.53 26.39 15.02 31.18 33.02 Net Margin %
0.76 1.13 1.21 1.44 1.90 1.63 2.13 2.73 2.02 2.61 2.66 1.49 2.59 3.29 2.15 5.11 5.80 EPS (Basic)
0.75 1.12 1.20 1.42 1.87 1.62 2.10 2.69 2.00 2.58 2.63 1.48 2.56 3.25 2.13 5.06 5.74 EPS (Diluted)
10,894 10,906 10,531 9,886 9,470 8,996 8,927 8,593 8,506 8,470 8,399 8,254 8,013 7,832 7,794 7,753 7,691 Shares Outstanding (Diluted
Average)
1,186 855 903 1,440 2,056 2,562 2,673 2,766 2,967 3,755 5,212 5,957 6,622 8,778 10,261 11,682 12,024 Depreciation, Depletion and
Amortization
10,220 15,416 17,375 19,878 25,976 22,421 27,837 31,132 25,614 31,236 33,629 25,245 33,504 40,901 49,468 58,056 64,508 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSFT 3/7
Balance Sheet
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
14,304 4,851 6,714 6,111 10,339 6,076 5,505 9,610 6,938 3,804 8,669 5,595 6,510 7,663 11,946 11,356 8,864 Cash And Cash Equivalents
46,288 32,900 27,447 17,300 13,323 25,371 31,283 43,162 56,102 73,218 77,040 90,931 106,730 125,318 121,822 122,463 125,389 Marketable Securities
60,592 37,751 34,161 23,411 23,662 31,447 36,788 52,772 63,040 77,022 85,709 96,526 113,240 132,981 133,768 133,819 134,253 Cash, Cash Equivalents,
Marketable Securities
5,890 7,180 9,316 11,338 13,589 11,192 13,014 14,987 15,780 17,486 19,544 17,908 18,277 22,431 26,481 29,524 23,525 Accounts Receivable
150 69.00 465 435 417 170 172 232 210 328 944 1,100 612 797 655 399 409 Inventories, Raw Materials &
Components
-- -- -- 148 31.00 45.00 16.00 56.00 96.00 201 266 202 158 145 54.00 53.00 49.00 Inventories, Work In Process
271 422 1,013 544 537 502 552 1,084 831 1,409 1,450 1,600 1,481 1,239 1,953 1,611 1,365 Inventories, Finished Goods
421 491 1,478 1,127 985 717 740 1,372 1,137 1,938 2,660 2,902 2,251 2,181 2,662 2,063 1,823 Total Inventories
3,663 3,315 4,055 4,292 5,006 5,924 5,134 5,787 5,127 5,020 6,333 5,461 5,892 5,103 6,751 10,146 7,473 Other Current Assets
70,566 48,737 49,010 40,168 43,242 49,280 55,676 74,918 85,084 101,466 114,246 122,797 139,660 162,696 169,662 175,552 167,074 Total Current Assets
-- -- -- 10,117 6,588 4,933 7,754 10,865 9,776 10,844 14,597 12,053 10,431 6,023 1,862 2,649 2,755 Investments And Advances
274 313 362 428 518 526 526 533 528 525 541 769 824 1,107 1,254 1,540 -- Land And Improvements
2,786 2,865 3,146 3,170 4,302 5,886 6,087 6,521 6,768 7,326 8,867 10,800 12,393 16,284 20,604 26,288 -- Buildings And Improvements
3,429 3,197 3,715 4,691 5,996 6,732 7,546 8,592 9,385 11,707 14,836 17,191 21,280 25,458 32,090 38,663 -- Machinery, Furniture, Equipment
6,489 6,375 7,223 9,366 12,544 15,082 16,259 17,991 19,231 22,504 27,804 32,337 38,156 54,468 65,369 79,186 88,558 Gross Property, Plant and
Equipment
-4,163 -4,029 -4,179 -5,016 -6,302 -7,547 -8,629 -9,829 -10,962 -12,513 -14,793 -17,606 -19,800 -24,179 -29,223 -35,330 -39,597 Accumulated Depreciation
2,326 2,346 3,044 4,350 6,242 7,535 7,630 8,162 8,269 9,991 13,011 14,731 18,356 30,289 36,146 43,856 48,961 Property, Plant and Equipment
3,684 3,808 4,405 5,638 14,081 14,262 13,552 13,325 16,622 17,738 27,108 21,774 21,605 45,228 43,736 49,776 49,374 Intangible Assets
-- -- 3,866 4,760 12,108 12,503 12,394 12,581 13,452 14,655 20,127 16,939 17,872 35,122 35,683 42,026 42,248 Goodwill
17,792 15,924 13,138 2,898 2,640 1,878 1,501 1,434 1,520 2,392 3,422 3,117 3,416 6,076 7,442 14,723 14,630 Other Long Term Assets
94,368 70,815 69,597 63,171 72,793 77,888 86,113 108,704 121,271 142,431 172,384 174,472 193,468 250,312 258,848 286,556 282,794 Total Assets
1,717 2,086 2,909 3,247 4,034 3,324 4,025 4,197 4,175 4,828 7,432 6,591 6,898 7,390 8,617 9,382 8,811 Accounts Payable
-- -- -- 1,040 3,248 725 1,074 580 789 592 782 606 580 718 2,121 5,665 2,687 Total Tax Payable
3,056 3,748 4,847 7,028 9,896 5,733 5,281 5,985 5,778 6,065 8,772 7,289 7,772 8,108 10,738 15,047 11,498 Accounts Payable & Accrued
Expense
-- -- -- -- -- 2,000 1,000 -- 1,231 2,999 2,000 7,484 12,904 10,121 3,998 5,516 6,247 Current Portion of Long-Term
Debt
6,514 7,502 9,138 10,779 13,397 13,003 13,652 15,722 18,653 20,639 23,150 23,223 27,468 24,013 28,905 32,676 27,343 Current Deferred Revenue
-- -- 1,557 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Taxes
Liabilities
6,514 7,502 10,695 10,779 13,397 13,003 13,652 15,722 18,653 20,639 23,150 23,223 27,468 24,013 28,905 32,676 27,343 DeferredTaxAndRevenue
5,399 5,627 6,900 5,947 6,593 6,298 6,214 7,067 7,026 7,714 11,703 11,651 11,213 13,503 14,847 16,181 14,552 Other Current Liabilities
14,969 16,877 22,442 23,754 29,886 27,034 26,147 28,774 32,688 37,417 45,625 49,647 59,357 55,745 58,488 69,420 59,640 Total Current Liabilities
-- -- -- -- -- 3,746 4,939 11,921 10,713 12,601 20,645 27,808 40,557 76,073 72,242 66,662 63,361 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- 5,372 5,568 6,188 7,172 Capital Lease Obligation
-- -- -- -- -- 3,746 4,939 11,921 10,713 12,601 20,645 27,808 40,557 81,445 77,810 72,850 70,533 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- 0.15 0.13 0.21 0.18 0.20 0.25 0.44 0.74 1.04 0.99 0.77 0.70 Debt to Equity
-- -- -- 1,867 1,900 1,281 1,407 2,854 3,299 3,469 4,736 3,390 7,917 8,377 4,356 4,763 4,100 NonCurrent Deferred Liabilities
4,574 5,823 7,051 6,453 4,721 6,269 7,445 8,072 8,208 10,000 11,594 13,544 13,640 17,034 35,476 37,193 38,412 Other Long-Term Liabilities
19,543 22,700 29,493 32,074 36,507 38,330 39,938 51,621 54,908 63,487 82,600 94,389 121,471 162,601 176,130 184,226 172,685 Total Liabilities
56,396 60,413 59,005 60,557 62,849 62,382 62,856 63,415 65,797 67,306 68,366 68,465 68,178 69,315 71,223 78,520 79,625 Common Stock
18,429 -13,724 -20,130 -31,114 -27,703 -22,824 -17,736 -6,332 -856 9,895 17,710 9,096 2,282 17,769 13,682 24,150 30,739 Retained Earnings
-- 1,426 1,229 1,654 1,140 -- 1,055 -- 1,422 1,743 3,708 2,522 1,537 627 -2,187 -340 -255 Accumulated other
comprehensive income (loss)
74,825 48,115 40,104 31,097 36,286 39,558 46,175 57,083 66,363 78,944 89,784 80,083 71,997 87,711 82,718 102,330 110,109 Total Equity
0.79 0.68 0.58 0.49 0.50 0.51 0.54 0.53 0.55 0.55 0.52 0.46 0.37 0.35 0.32 0.36 0.39 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSFT 4/7
Cashflow Statement
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
8,168 12,254 12,599 14,065 17,681 14,569 18,760 23,150 16,978 21,863 22,074 12,193 20,539 25,489 16,571 39,240 44,323 Net Income
8,168 12,254 12,599 14,065 17,681 14,569 18,760 23,150 16,978 21,863 22,074 12,193 20,539 25,489 16,571 39,240 44,323 Net Income From Continuing
Operations
1,186 855 903 1,440 2,056 2,562 2,673 2,766 2,967 3,755 5,212 5,957 6,622 8,778 10,261 11,682 12,024 Depreciation, Depletion and
Amortization
-687 -1,243 -2,071 -1,764 -1,569 2,215 -2,238 -1,451 -1,156 -1,807 -1,120 1,456 562 -1,216 -3,862 -2,812 -3,723 Change In Receivables
-- -- -- -- -- 255 -44.00 -561 184 -802 -161 -272 600 50.00 -465 597 137 Change In Inventory
-- -- -- -- -- -671 844 58.00 -31.00 537 473 -1,054 88.00 81.00 1,148 232 513 Change In Payables And Accrued
Expense
1,320 174 -2,397 -961 22,097 -178 30,035 28,224 35,930 42,878 44,949 46,585 908 3,084 2,284 937 -580 Change In Working Capital
-1,479 -179 219 421 935 762 -220 2.00 954 -19.00 -331 224 2,181 963 13,040 -3,534 -5,996 Change In DeferredTax
-- -- 1,715 1,550 1,479 1,708 1,891 2,166 2,244 2,406 2,446 2,574 2,668 3,266 3,940 4,652 4,964 Stock Based Compensation
5,431 3,501 1,365 1,281 -22,636 -386 -29,066 -29,314 -33,640 -42,050 -41,848 -45,363 -223 -2,073 -609 Cash Flow from Others
-2,212 -792
14,626 16,605 14,404 17,796 21,612 19,037 24,073 26,994 31,626 28,833 32,502 29,668 33,325 39,507 43,884 52,185 54,126 Cash Flow from Operations
-1,109 -812 -1,578 -2,264 -3,182 -3,119 -1,977 -2,355 -2,305 -4,257 -5,485 -5,944 -8,343 -8,129 -11,632 -13,925 -13,546 Purchase Of Property, Plant,
Equipment
-- -- -649 -1,150 -8,053 -868 -245 -71.00 -10,112 -1,584 -5,937 -3,723 -1,393 -25,944 -888 -2,388 -1,092 Purchase Of Business
-95,005 -68,045 -51,117 -36,308 -20,954 -37,780 -30,168 -35,993 -57,250 -75,396 -72,690 -98,729 -129,758 -176,905 -137,380 -57,697 -63,689 Purchase Of Investment
92,776 84,091 58,230 46,187 27,729 25,997 22,578 22,777 45,275 57,594 65,366 85,861 115,341 164,394 143,937 58,237 61,895 Sale Of Investment
-4.00 -207 3,117 -376 -127 -- -1,502 1,026 -394 -168 -87.00 -466 203 -197 -98.00 -- -- Cash From Other Investing
Activities
-3,342 15,027 8,003 6,089 -4,587 -15,770 -11,314 -14,616 -24,786 -23,811 -18,833 -23,001 -23,950 -46,781 -6,061 -15,773 -16,432 Cash Flow from Investing
2,748 3,109 2,101 6,782 3,494 579 2,311 2,422 1,913 931 607 634 668 772 1,002 1,142 1,243 Issuance of Stock
-3,383 -8,057 -19,207 -27,575 -12,533 -9,353 -11,269 -11,555 -5,029 -5,360 -7,316 -14,443 -15,969 -11,788 -10,721 -19,543 -19,504 Repurchase of Stock
-- -- -- -- -- 5,746 190 5,960 -- 3,537 6,962 13,661 18,283 31,459 -10,201 -4,000 -2,518 Net Issuance of Debt
-1,729 -36,112 -3,545 -3,805 -4,015 -4,468 -4,578 -5,180 -6,385 -7,455 -8,879 -9,882 -11,006 -11,845 -12,699 -13,811 -14,443 Cash Flow for Dividends
-- -18.00 89.00 54.00 120 33.00 55.00 -23.00 93.00 199 -39.00 362 -369 -190 -971 -675 -189 Other Financing
-2,364 -41,078 -20,562 -24,544 -12,934 -7,463 -13,291 -8,376 -9,408 -8,148 -8,665 -9,668 -8,393 8,408 -33,590 -36,887 -35,411 Cash Flow from Financing
8,947 -9,453 1,863 -603 4,228 -4,263 -571 4,105 -2,672 -3,134 4,865 -3,074 915 1,153 4,283 -590 2,226 Net Change in Cash
-1,109 -812 -1,578 -2,264 -3,182 -3,119 -1,977 -2,355 -2,305 -4,257 -5,485 -5,944 -8,343 -8,129 -11,632 -13,925 -13,546 Capital Expenditure
13,517 15,793 12,826 15,532 18,430 15,918 22,096 24,639 29,321 24,576 27,017 23,724 24,982 31,378 32,252 38,260 40,580 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSFT 5/7
Valuation Ratios
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
38.40 22.18 19.42 20.75 14.63 14.67 10.96 9.70 15.30 13.29 15.86 30.24 24.48 22.60 46.73 26.42 30.10 PE Ratio(TTM)
37.50 21.89 22.87 20.67 6.28 13.51 4.15 4.28 4.77 4.42 5.04 5.83 15.65 16.28 21.44 25.60 32.20 Price to Owner Earnings
(TTM)
4.18 5.53 5.85 8.88 6.94 5.35 4.32 3.82 3.86 3.64 3.83 4.43 5.55 6.06 9.15 10.01 11.94 Price to Book
4.40 6.00 6.57 10.85 11.33 8.37 6.11 4.98 5.15 4.70 5.48 6.08 7.93 12.51 19.42 19.48 21.65 Price to Tangible Book
23.19 17.17 19.11 18.70 14.13 13.38 9.28 9.06 8.86 11.89 12.94 15.71 16.41 17.21 23.78 27.13 32.88 Price-to-Free-Cash-Flow
Ratio
21.41 16.32 17.01 16.33 12.04 11.19 8.52 8.27 8.22 10.13 10.76 12.50 12.30 13.67 17.48 19.90 24.65 Price-to-Operating-Cash-
Flow Ratio
8.51 6.81 5.53 5.69 4.31 3.66 3.28 3.19 3.52 3.75 4.03 3.90 4.49 5.59 6.94 8.25 9.93 PS Ratio
-- -- 3.47 1.44 0.59 0.62 0.64 0.62 1.39 2.65 2.36 11.95 -- 2.80 4.38 1.43 1.75 PEG Ratio
6.85 5.74 4.52 4.95 3.77 3.18 2.70 2.53 2.78 2.91 3.23 3.13 3.73 5.07 6.39 7.70 9.36 EV-to-Revenue
24.68 14.81 11.53 12.72 8.78 8.30 6.06 5.58 8.01 7.25 8.34 11.61 10.14 11.98 14.25 16.68 19.48 EV-to-EBITDA
27.92 15.68 12.16 13.72 9.54 9.37 6.70 6.12 9.06 8.24 9.87 15.20 12.64 15.25 17.98 20.88 23.95 EV-to-EBIT
3.58 6.38 8.22 7.29 10.48 10.67 14.93 16.34 11.04 12.14 10.13 6.58 7.91 6.56 5.56 4.79 4.18 Return on Capital %
1.30 4.73 11.17 18.99 25.30 26.46 24.85 23.72 19.03 12.62 13.70 9.35 5.57 12.73 14.12 21.27 22.25 Forward Rate of Return
47.60 34.63 27.78 30.48 24.05 19.74 17.48 16.77 18.10 18.26 19.88 20.95 23.33 29.04 40.54 47.85 58.52 Shiller PE Ratio
0.56 1.29 1.46 1.32 1.56 2.10 2.26 2.35 2.48 2.58 2.57 2.74 2.72 2.22 1.67 1.34 1.12 Dividend Yield %
Valuation and Quality
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
312,826 266,036 234,445 276,296 251,744 211,743 199,451 217,776 256,375 287,732 343,566 354,392 399,535 531,312 757,029 1,023,856 1,314,249 Market Cap
252,234 228,285 200,284 252,885 228,082 186,042 168,602 176,925 205,279 226,310 280,502 293,158 339,756 489,897 705,069 968,403 1,256,776 Enterprise Value
28.80 24.84 23.30 29.47 27.51 23.77 23.01 26.00 30.59 34.55 41.70 44.15 51.17 68.93 98.61 134 173 Month End Stock Price
3.78 1.41 0.46 -0.92 -1.40 -0.77 -0.36 0.14 0.97 1.63 0.38 0.27 -1.05 -3.84 -5.52 -6.60 -5.05 Net Cash (per share)
4.70 2.43 1.94 0.86 0.74 1.23 1.82 2.78 3.60 4.56 3.84 3.54 2.33 0.01 -0.84 -1.13 -0.74 Net Current Asset Value
(per share)
4.21 1.93 1.23 0.04 -0.24 0.21 0.81 1.56 2.45 3.32 2.32 2.12 0.85 -1.52 -2.76 -3.56 -2.61 Net-Net Working Capital
(per share)
19.88 18.93 21.77 24.66 27.06 28.97 32.36 37.07 36.67 37.49 43.93 42.31 41.13 44.64 45.94 52.53 57.38 Projected FCF (per share)
42.15 45.40 52.48 53.44 56.84 52.81 50.29 54.87 51.64 42.71 41.84 45.01 44.75 48.47 55.83 68.76 75.06 Median PS (per share)
8.00 13.59 6.72 20.41 46.77 38.41 35.95 42.18 22.00 13.05 17.70 -- -- 24.58 22.53 93.39 129 Peter Lynch Fair Value
(per share)
10.51 10.21 9.79 9.31 10.11 10.17 13.34 17.78 16.34 20.65 21.22 15.55 19.28 20.08 15.60 27.98 32.10 Graham Number (per
share)
13.98 12.83 13.98 14.60 17.34 20.69 23.23 28.26 28.54 31.10 33.62 36.86 36.19 38.57 37.52 40.47 43.03 Earnings Power Value
(EPV)
11.40 8.64 6.32 6.65 5.73 4.84 4.81 4.46 4.53 4.54 4.16 3.73 3.42 3.38 4.09 4.87 6.26 Altman Z-Score
6.00 7.00 7.00 7.00 8.00 5.00 7.00 7.00 5.00 6.00 4.00 4.00 5.00 7.00 6.00 8.00 8.00 Piotroski F-Score
-2.87 -2.76 -2.48 -2.56 -2.68 -2.87 -2.67 -2.58 -2.78 -2.65 -2.57 -2.85 -2.85 -2.49 -2.92 -2.55 -2.51 Beneish M-Score
0.17 0.11 0.08 0.11 0.20 0.19 0.20 0.19 0.14 0.14 0.19 0.11 0.07 0.24 0.12 0.18 0.19 Scaled Net Operating
Assets
-3.30 -27.36 -14.09 -15.55 0.90 14.51 6.97 9.91 8.36 11.82 4.88 3.17 5.77 13.09 -8.21 0.99 2.34 Sloan Ratio (%)
4.71 2.89 2.18 1.69 1.45 1.82 2.13 2.60 2.60 2.71 2.50 2.47 2.35 2.92 2.90 2.53 2.80 Current Ratio
4.69 2.86 2.12 1.64 1.41 1.80 2.10 2.56 2.57 2.66 2.45 2.41 2.31 2.88 2.86 2.50 2.77 Quick Ratio
29.96 29.98 28.16 31.21 37.06 28.13 31.39 28.87 32.85 35.67 42.25 49.61 56.55 72.52 102 138 191 Highest Stock Price
24.15 23.92 21.51 22.26 26.99 15.15 22.39 23.16 23.98 26.37 31.15 40.29 40.47 51.16 68.17 94.13 109 Lowest Stock Price
-0.84 1.40 6.05 6.82 2.39 2.66 2.69 3.37 -0.06 0.63 1.07 2.57 2.73 1.28 0.40 0.44 0.94 Shares Buyback Ratio (%)
14.30 7.90 15.27 22.97 23.38 1.82 7.74 16.30 6.47 6.05 12.48 9.67 0.34 8.39 14.84 14.63 14.19 YoY Rev. per Sh. Growth
(%)
8.70 49.33 7.14 18.33 31.69 -13.37 29.63 28.10 -25.65 29.00 1.94 -43.73 72.97 26.95 -34.46 138 33.18 YoY EPS Growth (%)
-6.67 50.75 16.69 21.88 36.40 -9.15 25.12 16.20 -16.89 22.48 8.57 -23.60 36.68 24.90 21.54 17.98 21.06 YoY EBITDA Growth (%)
-2.93 -0.35 5.60 14.37 24.88 23.71 17.12 15.74 11.00 5.02 6.73 2.53 -0.43 8.06 10.68 18.42 17.20 EBITDA 5-Y Growth (%)
10,803 10,839 10,438 9,742 9,328 8,945 8,813 8,490 8,396 8,375 8,299 8,177 7,925 7,746 7,700 7,673 7,621 Shares Outstanding (Basic
Average)
10,862 10,710 10,062 9,375 9,151 8,908 8,668 8,376 8,381 8,328 8,239 8,027 7,808 7,708 7,677 7,643 7,606 Shares Outstanding (EOP)
1.20 1.10 0.56 1.23 1.26 1.06 1.01 0.99 1.04 1.02 0.69 0.82 1.05 1.40 1.24 1.02 1.02 Beta
09/01/04 08/26/05 08/25/06 08/03/07 07/31/08 07/30/09 07/30/10 07/28/11 07/26/12 07/30/13 07/31/14 07/31/15 07/28/16 08/02/17 08/03/18 08/01/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSFT 6/7
08/26/05 08/25/06 07/31/08 07/30/09 07/30/10 07/28/11 07/26/12 07/30/13 07/31/14 07/31/15 07/28/16 08/02/17 08/03/18 08/01/19 08/01/19 08/01/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSFT 7/7
SL Green Realty Corp (NYSE:SLG) 03/02/2020 4:10PM EST GuruFocus
Price: $ 81.37 +2.93(+3.74%) Market Cap: $ 6.44 B Enterprise Value: $13.57 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 26.50
Cash to Debt 0.03 Operating margin (%) 32.29
Forward P/E N/A
Equity to Asset 0.45 Net-margin (%) 22.71
PE(NRI) 26.50
Interest Coverage 2.03 ROE (%) 4.24
F-Score:
P/B 1.23
ROA (%) 2.14
7 P/S 5.71
Z-Score: ROC (Joel Greenblatt) (%) 484.83
0.96 PFCF 16.84
Revenue Growth (3Y)(%) -5.80
M-Score: POCF 16.84
-2.67 EBITDA Growth (3Y)(%) -10.40
EV-to-EBIT 26.09
WACC vs 5.31% EPS Growth (3Y)(%) 1.50
ROIC 3.21% Shiller P/E 24.62
WACC
ROIC Current Ratio 3.97
Quick Ratio 3.97
Days Sales Outstanding 12.95
Warning Signs Quarterly Revenues Company Description
Interest Coverage: Low Mar Jun Sep Dec Full Year SL Green is the largest Manhattan property owner and landlord, with around 46 million square feet of wholly owned
and joint venture office space. The company has additional property exposure through its limited portfolio of well-
2016 455 618 417 374 1,864 located retail space. It operates as a real estate investment trust.... (Read More)
Dividend Payout Ratio: Too
2017 377 398 375 361 1,511 Competitors: XMAD:COL , NYSE:DEI, LSE:DLN, NYSE:CUZ, ASX:MGR, TSE:8954 , NYSE:HPP, SGX:C61U,
high
2018 302 301 308 317 1,227 NYSE:KRC, NYSE:JBGS, TSX:AP.UN, NYSE:HIW, NYSE:LPT, BOM:542602, TSE:8952, NYSE:COR, XPAR:FLY,
NYSE:EQC, TSE:8976, XTER:AOX
Operating Income: loss 2019 304 313 314 308 1,239
2020 Insider Trades
ROIC vs. WACC: Return on
invested capital is less than Quarterly Earnings per Share
weighted average cost of Mar Jun Sep Dec Full Year
capital.
2016 0.23 1.33 0.34 0.44 2.34
2017 0.11 0.08 0.40 0.29 0.88
Good Signs 2018 1.12 1.19 1.03 -0.73 2.61
2019 0.52 1.94 0.40 0.21 3.07
Piotroski F-Score: High 2020
Dividend Yield %: Close to Quarterly Dividends Per Share
10-year high
Mar Jun Sep Dec Full Year
PE Ratio: Close to 5-year low 2016 0.72 0.72 0.72 0.78 2.94
PB Ratio: Close to 5-year low 2017 0.78 0.78 0.78 0.81 3.14
2018 0.81 0.81 0.81 0.85 3.29
PS Ratio: Close to 3-year low 2019 0.85 0.85 0.85 0.89 3.44
2020
DCF Growth Rate
GuruFocus does not Annual Rates(per share) 10-Y 5-Y 12-M
calculate intrinsic value: DCF
Revenue Growth (%) 0.00 -1.10 6.20
(Earnings Based) for
companies with one star EBITDA Growth (%) 0.40 -2.20 -15.30
predictability or not rated. But Free Cash Flow Growth (%) 0.00 3.70 2.30
you can go to each stock's
Book Value Growth (%) 1.90 1.90 -4.10
DCF page to calculate
yourself. EPS Growth (%) 0.00 8.50 -41.30
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLG 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6.42 8.10 10.18 16.44 17.58 13.58 13.60 14.46 13.89 14.39 15.25 16.03 17.77 14.62 13.41 14.31 14.32 Revenue per Share
3.45 4.08 5.05 9.09 9.48 7.54 9.40 13.94 8.98 8.20 10.87 11.74 13.81 7.54 8.45 7.85 9.24 EBITDA per Share
2.07 2.65 3.39 5.78 5.69 4.28 6.39 10.55 5.19 4.45 6.86 6.07 5.75 3.48 5.26 4.70 6.00 EBIT per Share
4.75 3.20 4.38 10.78 6.20 0.54 3.45 7.33 1.74 1.10 5.23 2.70 2.34 0.87 2.67 3.10 3.07 Earnings per Share (diluted)
4.75 1.70 1.84 1.87 -1.43 0.45 2.92 6.69 1.31 0.66 3.35 2.56 2.34 0.87 2.67 3.10 3.07 eps without NRI
4.95 0.91 1.17 2.77 -3.94 -6.78 -3.46 1.47 1.33 0.85 3.84 2.41 6.69 1.40 -- -- 4.64 Owner Earnings per Share (TTM)
1.97 -7.61 -8.24 -62.62 1.58 2.33 -0.72 -3.46 3.73 4.05 4.92 5.08 6.14 5.25 4.82 -- -- Free Cashflow per Share
2.04 2.22 2.50 2.89 2.74 0.68 0.40 0.55 1.08 1.49 2.10 2.52 2.94 3.14 3.29 3.44 3.44 Dividends per Share
32.98 34.38 43.07 60.78 63.98 51.19 57.58 65.34 65.95 66.36 69.00 70.67 70.63 64.69 67.87 65.90 65.90 Book Value per Share
32.98 34.38 43.07 60.78 63.98 51.19 57.58 65.34 65.95 66.36 69.00 70.67 70.63 64.69 67.87 65.90 65.90 Tangible Book per Share
28.14 36.33 34.75 97.49 98.38 60.71 67.28 70.56 71.87 73.35 84.25 103 64.87 63.55 66.74 75.51 75.51 Total Debt per Share
60.55 76.39 133 93.46 25.90 50.24 67.51 66.64 76.65 92.38 119 113 108 101 79.08 -- 81.37 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.81 9.80 10.42 20.59 9.33 0.91 5.84 11.37 2.51 1.55 7.41 3.69 3.09 1.22 3.65 4.28 4.24 Return on Equity %
8.35 5.19 5.56 8.22 3.40 0.54 2.76 5.22 1.42 0.94 3.25 1.58 1.47 0.76 1.93 2.21 2.14 Return on Assets %
11.29 6.73 6.89 6.49 4.34 4.03 6.47 22.39 -- -- 5,338 4,917 -- 287 385 336 485 Return on Capital %
4.98 4.70 4.92 4.98 2.48 1.57 3.81 3.71 3.02 3.25 3.49 2.45 2.03 1.85 1.42 3.38 3.21 Return on Invested Capital %
5.47 7.12 9.45 11.08 8.92 12.75 11.88 10.91 7.86 9.30 6.85 5.75 7.53 7.62 7.63 -- 5.31 Weighted Average Cost Of Capital (WACC) %
-- -- -- 6.73 5.27 4.50 4.57 5.07 4.94 4.63 4.22 3.53 3.85 4.16 3.67 3.50 3.21 Effective Interest Rate on Debt %
94.35 94.78 95.92 79.41 56.36 49.26 62.95 62.79 61.11 62.68 64.97 65.89 68.11 62.23 63.45 62.98 62.98 Gross Margin %
32.26 32.69 33.32 35.16 22.86 15.20 34.93 34.14 30.51 32.73 34.44 25.30 18.15 17.08 14.59 32.86 32.29 Operating Margin %
75.75 42.70 44.70 64.93 35.76 5.88 27.72 51.92 15.39 10.04 34.26 17.50 14.01 7.46 21.07 22.71 22.71 Net Margin %
30.73 -93.86 -80.90 -381 9.00 17.19 -5.32 -23.96 26.88 28.17 32.26 31.66 34.55 35.93 35.97 -- -- FCF Margin %
0.85 1.06 0.72 1.50 1.44 1.12 1.08 1.01 1.01 1.06 1.17 1.36 0.86 0.90 0.90 1.05 1.05 Debt to Equity
0.49 0.44 0.52 0.34 0.36 0.42 0.43 0.44 0.45 0.44 0.41 0.38 0.48 0.47 0.49 0.45 0.45 Total Equity to Total Asset
0.42 0.47 0.37 0.50 0.51 0.47 0.47 0.45 0.46 0.47 0.48 0.52 0.41 0.42 0.44 0.47 0.47 Total Debt to Total Asset
10.41 11.53 11.93 10.06 5.36 4.49 6.27 6.32 5.66 5.86 6.16 5.95 7.13 6.30 5.83 6.12 5.93 Gross Profit to Total Asset %
0.11 0.12 0.12 0.13 0.10 0.09 0.10 0.10 0.09 0.09 0.10 0.09 0.11 0.10 0.09 0.10 0.09 Asset Turnover
0.43 1.31 1.36 1.54 0.44 1.50 0.14 0.08 0.82 2.26 0.63 0.99 1.25 3.61 1.23 1.11 1.11 Dividend Payout Ratio
-- -- -- -- -- -- -- 9.40 15.80 16.08 13.78 13.94 10.53 13.92 12.37 12.95 12.95 Days Sales Outstanding
-- -- 2,322 -- -- 58.26 121 112 116 104 119 126 117 87.68 120 133 133 Days Accounts Payable
-- -- -2,322 -- -- -58.26 -121 -103 -100 -88.00 -105 -112 -106 -73.76 -107 -120 -120 Cash Conversion Cycle
0.06 0.05 0.04 0.21 0.44 0.51 0.37 0.37 0.39 0.37 0.35 0.34 0.32 0.38 0.37 0.37 0.37 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLG 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
276 369 494 1,017 1,065 978 1,084 1,247 1,290 1,371 1,520 1,663 1,864 1,511 1,227 1,239 1,239 Revenue
15.62 19.25 20.15 209 465 496 402 464 502 512 532 567 595 571 449 459 459 Cost of Goods Sold
261 349 474 808 600 482 683 783 788 859 988 1,096 1,269 941 779 780 780 Gross Profit
94.35 94.78 95.92 79.41 56.36 49.26 62.95 62.79 61.11 62.68 64.97 65.89 68.11 62.23 63.45 62.98 62.98 Gross Margin %
30.28 44.22 65.74 137 136 106 75.95 80.10 82.84 86.19 92.49 94.87 99.76 100 92.63 101 101 Selling, General, & Admin. Expense
141 185 243 313 221 227 228 277 312 324 372 580 831 582 507 272 279 Other Operating Expense
89.19 121 165 358 244 149 379 426 394 449 523 421 338 258 179 407 400 Operating Income
32.26 32.69 33.32 35.16 22.86 15.20 34.93 34.14 30.51 32.73 34.44 25.30 18.15 17.08 14.59 32.86 32.29 Operating Margin %
-- -- -- -- 8.17 4.31 2.15 2.00 1.55 2.00 2.50 2.95 2.80 1.58 1.96 -- 4.45 Interest Income
-- -- -- -252 -300 -237 -233 -287 -311 -313 -320 -327 -324 -259 -211 -202 -197 Interest Expense
-- -- -- -252 -292 -233 -240 -299 -328 -327 -340 -351 -346 -274 -221 -202 -202 Net Interest Income
-89.19 -121 -165 -106 92.99 155 138 496 105 -11.35 180 233 286 116 313 86.53 93.57 Other Income (Expense)
-4.61 -5.83 -10.27 -23.17 -23.24 -14.12 -18.58 -29.71 -11.19 -13.65 -25.06 -26.41 -17.78 11.71 -12.21 -10.14 -10.14 Other Income (Minority Interest)
-- -- -- -- 44.97 71.19 277 622 171 111 364 303 279 101 271 291 291 Pre-Tax Income
94.73 104 108 161 44.97 71.19 277 622 171 111 364 303 279 101 271 291 291 Net Income (Continuing Operations)
115 53.56 113 499 359 0.48 42.55 54.65 38.87 40.59 182 14.55 -- -- -- -- -- Net Income (Discontinued
Operations)
209 157 221 660 381 57.54 301 647 199 138 521 291 261 113 259 281 281 Net Income
75.75 42.70 44.70 64.93 35.76 5.88 27.72 51.92 15.39 10.04 34.26 17.50 14.01 7.46 21.07 22.71 22.71 Net Margin %
16.26 19.88 19.88 19.88 19.88 19.88 29.75 30.18 32.52 24.14 17.70 21.92 26.19 26.35 26.33 25.86 25.86 Preferred dividends
4.93 3.29 4.50 10.90 6.22 0.54 3.47 7.37 1.75 1.10 5.25 2.71 2.34 0.87 2.67 3.10 3.07 EPS (Basic)
4.75 3.20 4.38 10.78 6.20 0.54 3.45 7.33 1.74 1.10 5.23 2.70 2.34 0.87 2.67 3.10 3.07 EPS (Diluted)
43.08 45.50 48.50 61.89 60.60 72.04 79.76 86.24 92.87 95.27 99.70 104 105 103 91.53 86.56 84.32 Shares Outstanding (Diluted
Average)
59.26 65.22 80.23 205 230 235 240 292 352 358 400 588 846 420 292 272 281 Depreciation, Depletion and
Amortization
148 186 245 562 574 543 750 1,202 834 781 1,084 1,218 1,449 780 773 679 801 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLG 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- 117 45.96 727 344 333 138 190 207 281 255 279 128 129 166 166 Cash And Cash Equivalents
-- 543 -- -- -- 58.79 34.05 -- -- -- -- -- -- -- -- -- -- Marketable Securities
-- 543 117 45.96 727 403 367 138 190 207 281 255 279 128 129 166 166 Cash, Cash Equivalents, Marketable
Securities
-- -- -- -- -- -- -- 32.11 55.86 60.39 57.37 63.49 53.77 57.64 41.59 43.97 43.97 Accounts Receivable
-- -- -- -- -- 262 339 163 141 142 612 269 90.52 460 150 467 467 Other Current Assets
-- 543 255 108 765 696 739 619 735 804 1,337 1,097 882 1,034 685 981 981 Total Current Assets
-- -- 1,131 2,243 1,655 1,843 1,595 1,905 2,402 2,450 2,620 2,919 3,616 4,506 5,147 4,523 4,523 Investments And Advances
-- -- -- 1,437 1,386 1,379 1,750 -- -- -- -- -- -- -- -- -- -- Land And Improvements
-- -- -- 7,174 6,803 6,866 7,128 -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
1,580 2,004 3,055 8,622 8,202 8,257 8,890 -- -- -- -- -- -- -- -- -- -- Gross Property, Plant and Equipment
-- -- -279 -382 -547 -738 -916 -- -- -- -- -- -- -- -- -- -- Accumulated Depreciation
1,580 2,004 2,776 8,241 7,655 7,519 7,974 -- -- -- -- -- -- -- -- -- -- Property, Plant and Equipment
1,172 763 470 838 908 430 992 10,959 11,249 11,705 13,139 15,712 11,360 8,443 6,920 7,262 7,262 Other Long Term Assets
2,752 3,310 4,632 11,430 10,984 10,488 11,300 13,484 14,386 14,959 17,097 19,728 15,858 13,983 12,751 12,766 12,766 Total Assets
-- -- 128 -- -- 79.24 133 142 160 146 173 196 191 137 147 167 167 Accounts Payable
4.49 7.71 138 278 230 126 186 315 299 335 376 320 316 264 254 268 268 Accounts Payable & Accrued
Expense
-- -- -- 709 1,389 1,374 650 -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
-- -- -- -- -- 34.73 -- 61.99 0.14 -- 267 29.00 -- 4.07 -- -- -- Other Current Liabilities
4.49 7.71 138 987 1,619 1,535 836 377 300 335 643 349 316 268 254 268 268 Total Current Liabilities
1,150 1,542 1,715 5,015 4,227 3,519 4,601 6,035 6,520 6,920 8,179 10,275 6,482 5,855 5,542 5,555 5,555 Long-Term Debt
-- -- 16.39 16.54 16.70 16.88 17.04 17.11 37.52 47.67 20.82 41.36 42.13 42.84 43.62 426 426 Capital Lease Obligation
1,150 1,542 1,732 5,031 4,244 3,535 4,618 6,053 6,558 6,968 8,200 10,317 6,524 5,898 5,585 5,981 5,981 Long-Term Debt & Capital Lease
Obligation
0.85 1.06 0.72 1.50 1.44 1.12 1.08 1.01 1.01 1.06 1.17 1.36 0.86 0.90 0.90 1.05 1.05 Debt to Equity
-- -- 60.66 819 428 368 326 357 313 263 187 399 218 208 94.45 67.47 67.47 NonCurrent Deferred Liabilities
75.06 99.06 128 714 623 609 603 673 700 757 991 856 900 826 434 486 486 Minority Interest
174 201 179 51.98 159 51.86 38.69 46.37 46.25 61.31 66.61 237 273 256 181 239 239 Other Long-Term Liabilities
1,329 1,751 2,109 6,889 6,450 5,490 5,818 6,834 7,217 7,627 9,097 11,302 7,331 6,630 6,115 6,556 6,556 Total Liabilities
0.41 0.43 0.50 0.60 0.60 0.81 0.82 0.89 0.95 0.99 0.97 1.00 1.02 0.94 0.85 0.80 0.80 Common Stock
-- -- 248 248 248 248 370 372 452 271 293 504 524 524 522 505 505 Preferred Stock
191 236 322 792 1,023 950 1,173 1,705 1,701 1,619 1,608 1,644 1,579 1,139 1,279 1,085 1,085 Retained Earnings
-- -- 13.97 4.94 -56.99 -33.54 -22.66 -28.45 -29.59 -15.21 -6.98 -8.75 22.14 18.60 15.11 -28.49 -28.49 Accumulated other comprehensive
income (loss)
918 960 1,810 2,932 2,999 3,526 3,661 4,237 4,668 5,016 5,114 5,440 5,625 4,968 4,509 4,286 4,286 Additional Paid-In Capital
-- -- -- -151 -303 -303 -303 -309 -323 -317 -- -10.00 -124 -124 -124 -124 -124 Treasury Stock
1,348 1,459 2,395 3,827 3,912 4,388 4,879 5,978 6,469 6,575 7,008 7,570 7,626 6,527 6,202 5,725 5,725 Total Equity
0.49 0.44 0.52 0.34 0.36 0.42 0.43 0.44 0.45 0.44 0.41 0.38 0.48 0.47 0.49 0.45 0.45 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLG 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
209 124 127 179 404 71.67 319 677 210 151 546 317 279 101 271 281 291 Net Income
209 124 127 179 404 71.67 319 677 210 151 546 317 279 101 271 291 291 Net Income From Continuing
Operations
59.26 65.22 80.23 205 230 235 240 292 352 358 400 588 846 420 292 272 281 Depreciation, Depletion and
Amortization
-7.69 -10.96 -11.65 -23.60 17.06 10.13 2.67 -2.26 -14.53 -8.49 -1.70 -5.13 -0.40 -12.93 5.92 -- -1.09 Change In Receivables
21.41 26.26 43.42 88.12 -49.30 -14.76 -3.71 10.70 9.39 -1.47 -7.80 8.63 -35.63 -12.44 4.41 -- 2.43 Change In Payables And Accrued
Expense
27.45 -31.98 -15.84 52.60 -78.64 -45.70 -35.94 -24.91 -103 -50.09 -43.60 -22.61 -95.60 -43.77 -29.79 -- -39.84 Change In Working Capital
-180 -18.38 34.52 -29.38 -259 14.05 -203 -637 -111 -72.59 -412 -357 -385 65.88 -91.45 -- -36.63 Cash Flow from Others
116 138 226 407 296 275 321 307 347 386 490 526 644 543 442 -- 423 Cash Flow from Operations
-31.30 -484 -625 -4,282 -200 -107 -379 -606 -- -- -- -- -- -- -- -- -- Purchase Of Property, Plant,
Equipment
640 544 829 2,987 207 27.95 623 161 -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-388 -436 -- -823 -45.78 -- -87.84 -110 -215 -150 -382 -162 -145 -389 -400 -- -216 Purchase Of Business
-- -- -- 82.45 458 -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Business
-79.83 -128 -167 -920 -80.05 -300 -- -28.57 -43.41 -54.66 -21.81 -23.58 -43.34 -- -- -- -- Purchase Of Investment
193 -- -- -- -- -- 32.61 40.79 197 660 585 522 919 893 664 -- 752 Sale Of Investment
-554 38.13 -823 622 57.15 33.53 -170 -191 -1,102 -1,084 -978 -2,602 1,243 -482 418 -- -596 Cash From Other Investing Activities
-221 -466 -787 -2,334 396 -345 18.82 -734 -1,163 -628 -797 -2,266 1,973 22.01 682 -- -59.47 Cash Flow from Investing
260 24.18 815 -- -- 387 -- 516 201 298 185 125 -- -- -- -- -- Issuance of Stock
-- -- -- -151 -152 -- -- -5.49 -14.15 -- -- -- -- -806 -1,014 -- -444 Repurchase of Stock
-- -- -- -- -- -- 122 -- 21.95 -193 -2.00 -0.20 -3.30 -0.28 -1.21 -- -16.00 Net Issuance of Preferred Stock
-70.80 1,196 712 1,682 358 -601 -357 -45.60 717 316 421 1,902 -2,364 493 242 -- 421 Net Issuance of Debt
-85.24 -94.74 -118 -188 -203 -78.32 -58.98 -63.87 -125 -148 -207 -257 -314 -334 -313 -- -307 Cash Flow for Dividends
-2.46 -810 -754 513 -13.72 -21.17 -56.71 -169 66.87 -13.68 -16.04 -55.82 -54.86 -37.88 -7.81 -- -59.25 Other Financing
102 316 654 1,856 -11.31 -313 -351 232 868 259 381 1,713 -2,736 -685 -1,094 -- -406 Cash Flow from Financing
-2.75 -11.69 93.07 -71.21 681 -383 -10.89 -195 51.79 16.71 74.72 -26.01 -119 -120 29.09 -- -42.05 Net Change in Cash
-31.30 -484 -625 -4,282 -200 -107 -379 -606 -- -- -- -- -- -- -- -- -- Capital Expenditure
84.97 -346 -399 -3,875 95.89 168 -57.70 -299 347 386 490 526 644 543 442 -- -- Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLG 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.77 23.87 30.88 8.73 4.19 81.03 19.57 9.10 44.05 84.75 22.63 41.84 45.96 115 30.30 -- 26.50 PE Ratio(TTM)
12.23 84.41 114 33.72 -- -- -- 45.43 57.55 108 30.96 46.90 16.07 72.04 -- -- 17.53 Price to Owner Earnings
(TTM)
1.84 2.22 3.08 1.54 0.40 0.98 1.17 1.02 1.16 1.39 1.72 1.60 1.52 1.56 1.17 -- 1.23 Price to Book
1.84 2.22 3.08 1.54 0.40 0.98 1.17 1.02 1.16 1.39 1.72 1.60 1.52 1.56 1.17 -- 1.23 Price to Tangible Book
33.96 -- -- -- 16.23 20.96 -- -- 20.57 22.75 24.20 22.02 17.51 19.24 16.37 -- 16.84 Price-to-Free-Cash-Flow
Ratio
22.40 25.13 28.62 14.25 5.29 12.98 16.78 18.63 20.57 22.75 24.20 22.02 17.51 19.24 16.37 -- 16.84 Price-to-Operating-Cash-
Flow Ratio
9.37 9.33 12.90 5.63 1.47 3.60 4.97 4.60 5.49 6.27 7.81 6.97 6.05 6.91 5.89 -- 5.71 PS Ratio
-- 73.60 12.59 2.48 -- 4.39 1.45 0.78 7.46 48.56 -- -- 6.89 27.24 -- -- -- PEG Ratio
13.38 11.66 17.29 11.81 6.80 9.56 10.29 10.17 11.21 11.81 13.68 13.66 9.92 10.91 10.62 -- 10.95 EV-to-Revenue
24.93 23.16 34.60 21.40 12.64 17.25 15.05 10.55 17.38 20.84 19.18 18.65 12.76 21.15 16.85 -- 16.94 EV-to-EBITDA
41.49 35.65 51.84 33.47 21.04 30.27 22.27 13.93 30.02 37.90 30.41 36.07 30.66 45.83 27.06 -- 26.09 EV-to-EBIT
2.41 2.81 1.93 2.99 4.75 3.30 4.49 7.18 3.33 2.64 3.29 2.77 3.26 2.18 3.70 -- 3.83 Return on Capital %
-13.20 -6.67 1.98 0.61 -36.82 -6.03 -3.38 -5.67 7.87 3.84 1.34 -0.27 10.74 9.18 3.36 -- -1.47 Forward Rate of Return
-- -- -- 24.25 6.01 11.68 15.49 13.43 15.46 19.17 25.04 24.14 23.95 29.35 25.97 -- 24.62 Shiller PE Ratio
3.37 2.91 1.88 3.09 10.58 1.34 0.59 0.83 1.41 1.61 1.76 2.23 2.73 3.11 4.16 3.74 4.20 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,475 3,243 6,618 5,503 1,483 4,063 5,286 5,717 6,994 8,775 11,584 11,295 10,815 9,367 6,618 -- 6,445 Market Cap
3,700 4,341 8,609 12,159 7,260 9,428 11,161 12,676 14,514 16,565 20,786 22,717 18,484 16,487 13,030 -- 13,569 Enterprise Value
60.55 76.39 133 93.46 25.90 50.24 67.51 66.64 76.65 92.38 119 113 108 101 79.08 -- 81.37 Month End Stock Price
-34.35 -30.79 -42.54 -128 -111 -70.44 -77.32 -85.89 -84.68 -86.08 -101 -119 -79.07 -78.96 -76.72 -86.81 -86.81 Net Cash (per share)
-34.35 -30.79 -44.75 -132 -114 -69.88 -77.29 -84.62 -83.66 -82.65 -92.93 -116 -78.29 -74.84 -76.32 -82.90 -82.90 Net Current Asset Value
(per share)
-34.35 -30.79 -47.52 -133 -115 -73.51 -82.05 -89.95 -89.17 -88.46 -103 -124 -83.88 -84.14 -82.59 -92.77 -92.77 Net-Net Working Capital (per
share)
10.68 6.44 3.05 -130 -133 -89.02 -85.25 -31.45 -6.06 64.59 71.90 79.41 89.78 98.06 111 -- -- Projected FCF (per share)
-- -- -- -- 98.23 77.81 76.96 84.30 81.60 88.29 91.37 96.26 103 85.21 81.25 -- 87.97 Median PS (per share)
21.17 14.60 10.55 37.75 -36.25 11.45 46.63 84.99 10.27 4.62 23.10 22.28 15.61 47.50 -- -- -- Peter Lynch Fair Value (per
share)
59.36 36.26 42.23 50.57 -- 22.77 61.50 99.20 44.11 31.35 72.13 63.75 60.98 35.58 63.85 67.80 67.47 Graham Number (per share)
-103 -149 -149 -197 -185 -133 -130 -123 -65.96 -67.73 -81.94 -111 -37.43 -46.10 -- -- -76.15 Earnings Power Value
(EPV)
1.31 1.52 2.12 0.65 0.36 0.64 0.92 1.02 0.98 1.07 1.17 0.95 1.31 1.22 1.05 -- 0.96 Altman Z-Score
3.00 5.00 7.00 4.00 5.00 4.00 7.00 5.00 6.00 5.00 5.00 5.00 5.00 6.00 6.00 -- 7.00 Piotroski F-Score
-2.25 -2.37 -1.95 -1.55 -2.23 -2.62 -2.48 -1.14 -1.95 -2.50 -2.61 -2.50 -2.73 -2.54 -2.97 -- -2.67 Beneish M-Score
1.14 0.93 1.25 2.21 0.83 0.87 0.99 1.11 1.00 0.98 1.06 1.08 0.75 0.83 0.87 0.94 0.90 Scaled Net Operating
Assets
11.41 14.64 16.88 22.64 -2.84 1.22 -0.35 7.97 7.06 2.54 4.84 10.29 -14.86 -3.23 -6.78 2.20 1.75 Sloan Ratio (%)
-- 70.44 1.85 0.11 0.47 0.45 0.88 1.64 2.45 2.40 2.08 3.14 2.79 3.86 2.69 3.66 3.66 Current Ratio
-- 70.44 1.85 0.11 0.47 0.45 0.88 1.64 2.45 2.40 2.08 3.14 2.79 3.86 2.69 3.66 3.66 Quick Ratio
60.55 77.14 140 156 101 52.74 70.27 90.01 85.14 98.15 123 134 119 114 106 -- 96.39 Highest Stock Price
40.24 52.70 76.39 89.43 11.36 8.69 44.18 55.14 66.64 76.65 90.96 101 80.54 94.15 77.63 -- 75.46 Lowest Stock Price
-13.49 -3.87 -17.39 -18.13 2.75 -41.24 3.18 -9.55 -6.37 -4.10 -2.45 -2.72 -0.59 7.72 9.83 5.35 5.35 Shares Buyback Ratio (%)
13.92 26.24 25.69 61.41 6.93 -22.73 0.11 6.34 -3.92 3.61 5.93 5.14 10.87 -17.75 -8.26 6.73 6.65 YoY Rev. per Sh. Growth
(%)
78.57 -32.63 36.88 146 -42.49 -91.29 539 112 -76.26 -36.78 375 -48.37 -13.33 -62.82 207 16.10 17.62 YoY EPS Growth (%)
12.80 18.46 23.64 80.09 4.25 -20.40 24.65 48.26 -35.60 -8.65 32.55 8.02 17.63 -45.41 12.08 -7.10 10.12 YoY EBITDA Growth (%)
-10.39 0.60 5.64 19.26 30.50 22.02 16.01 12.71 6.66 2.45 -0.08 -2.55 6.68 4.21 -3.15 -- -2.20 EBITDA 5-Y Growth (%)
39.17 41.79 44.59 58.74 58.00 69.74 78.10 83.76 89.32 92.27 95.77 99.35 100 98.57 86.75 86.01 83.77 Shares Outstanding (Basic
Average)
40.88 42.46 49.84 58.88 57.26 80.88 78.31 85.78 91.25 94.99 97.33 99.98 101 92.80 83.68 79.20 79.20 Shares Outstanding (EOP)
0.51 0.92 1.17 1.55 2.43 2.94 2.54 2.33 1.39 1.60 1.05 0.83 1.31 1.34 1.45 0.94 0.94 Beta
03/15/05 03/16/06 02/28/07 02/27/08 02/27/09 02/16/10 02/28/11 02/28/12 02/27/13 02/25/14 02/24/15 02/29/16 02/21/17 02/23/18 02/27/19 01/23/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLG 6/7
02/27/08 02/27/08 02/27/08 02/27/09 02/28/11 02/28/12 02/27/13 02/25/14 02/24/15 02/29/16 02/21/17 02/23/18 02/27/19 02/27/19 02/27/19 01/23/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SLG 7/7
The AES Corp (NYSE:AES) 03/02/2020 4:10PM EST GuruFocus
Price: $ 18.22 +1.49(+8.91%) Market Cap: $ 12.1 B Enterprise Value: $32.62 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 23.97
Cash to Debt 0.08 Operating margin (%) 21.52
Forward P/E N/A
Equity to Asset 0.09 Net-margin (%) 4.90
PE(NRI) 25.31
Interest Coverage 2.14 ROE (%) 15.81
F-Score:
P/B 3.85
ROA (%) 1.54
5 P/S 1.17
Z-Score: ROC (Joel Greenblatt) (%) 10.26
0.79 PFCF 43.48
Revenue Growth (3Y)(%) -0.40
M-Score: POCF 4.99
-2.73 EBITDA Growth (3Y)(%) 8.80
EV-to-EBIT 14.27
WACC vs 2.87% EPS Growth (3Y)(%) 47.60
ROIC 5.66% PEG 84.33
WACC
ROIC Current Ratio 1.10
Quick Ratio 1.00
Days Inventory 24.89
Days Sales Outstanding 52.85
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year AES is a global power company with businesses in 13 countries. It has a portfolio of more than 100 power plants and
Interest Coverage: Low wind and solar farms. Its current construction program will increase its net generating capacity to over 35 gigawatts.
2016 3,271 3,229 3,542 239 10,281 AES also has majority ownership and operates six electric utilities distributing power to 2.4 million customers in the
Dividend Payout Ratio: Too U.S. and El Salvador. AES is one of the world leaders in utility-scale energy storage in its Fluence joint venture with
2017 2,581 2,613 2,693 2,643 10,530
high Siemens.... (Read More)
2018 2,740 2,537 2,837 2,622 10,736
Competitors: XTER:EBK, TSX:BIP.UN, TSX:EMA, TSE:9502 , TSX:CU, XLIS:EDP, MIL:HER, MIL:A2A,
2019 2,650 2,483 2,625 LSE:CNA, BSP:CPLE3, NYSE:BKH, BSP:CMIG3, LSE:SSE, MIL:ACE, TSX:ACO.X, XTER:RWE, FRA:WWG,
Good Signs 2020 SHSE:600027, MIL:IRE, ASX:AST
Operating Margin %: Quarterly Earnings per Share Insider Trades
Expansion Mar Jun Sep Dec Full Year
2016 0.19 -0.73 0.26 -1.44 -1.72
DCF 2017 -0.04 0.08 0.23 -2.04 -1.77
2018 1.03 0.44 0.15 0.19 1.81
GuruFocus does not 2019 0.23 0.02 0.32
calculate intrinsic value: DCF 2020
(Earnings Based) for
companies with one star Quarterly Dividends Per Share
predictability or not rated. But Mar Jun Sep Dec Full Year
you can go to each stock's 2016 0.11 0.11 0.11 0.11 0.44
DCF page to calculate 2017 0.12 0.12 0.12 0.12 0.48
yourself. 2018 0.13 0.13 0.13 0.13 0.52
2019 0.14 0.14 0.14
Reverse DCF 2020
GuruFocus does not Growth Rate
calculate reverse DCF growth Annual Rates(per share) 10-Y 5-Y 12-M
rate for companies with one
star predictability or not rated. Revenue Growth (%) -3.50 -6.70 -4.10
But you can go to each EBITDA Growth (%) -4.10 0.30 -16.50
stock's DCF page to calculate Free Cash Flow Growth (%) 0.00 0.00 -8.10
yourself.
Book Value Growth (%) -5.40 -5.40 -5.20
EPS Growth (%) 0.00 0.00 145.90
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AES 1/7
Per Share Data
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
14.33 14.40 15.41 17.13 19.94 22.29 20.83 19.95 20.56 22.73 21.25 22.27 16.34 15.58 15.96 16.14 15.56 Revenue per Share
4.89 5.22 5.79 5.38 6.27 7.98 7.24 5.84 6.45 4.20 5.11 5.72 4.76 3.78 4.71 6.13 4.94 EBITDA per Share
3.56 3.99 4.49 3.99 4.88 6.53 5.67 4.31 4.84 2.35 3.38 4.00 3.10 2.00 2.94 4.62 3.43 EBIT per Share
-0.78 0.46 0.83 0.37 -0.14 1.82 0.98 0.01 0.07 -1.21 0.15 1.06 0.44 -1.72 -1.76 1.81 0.76 Earnings per Share (diluted)
0.30 0.41 0.56 0.25 0.72 1.76 1.06 0.64 0.65 -1.27 0.38 0.97 0.46 -0.04 -0.77 1.48 0.72 eps without NRI
-3.61 -2.25 -1.33 -1.81 -2.23 0.80 -0.70 -0.61 -1.09 -2.03 -1.42 -1.15 -1.43 -3.32 -2.15 0.62 -0.71 Owner Earnings per Share (TTM)
0.71 1.04 2.10 1.32 -0.11 -1.00 -0.48 1.49 0.58 1.05 0.97 -0.31 -0.25 0.84 0.50 0.33 0.42 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- 0.04 0.16 0.20 0.40 0.44 0.48 0.52 0.54 Dividends per Share
0.87 1.47 2.48 4.46 4.72 5.51 7.00 8.22 7.77 6.14 5.99 6.07 4.72 4.24 3.73 4.84 4.73 Book Value per Share
-1.33 -0.71 -0.11 1.60 1.91 2.62 4.29 6.04 2.07 3.02 3.34 3.60 2.48 2.05 1.58 2.59 2.44 Tangible Book per Share
31.37 28.59 25.87 24.02 26.84 26.55 29.26 23.86 28.78 27.84 29.13 29.63 30.12 29.51 30.23 29.13 29.77 Total Debt per Share
9.44 13.67 15.83 22.04 21.39 8.24 13.31 12.18 11.84 10.70 14.51 13.77 9.57 11.62 10.83 14.46 18.22 Month End Stock Price
Ratios
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
-443 39.97 42.53 10.73 -3.09 36.12 15.77 0.16 0.93 -17.35 2.56 17.88 8.25 -38.03 -44.15 42.41 15.81 Return on Equity %
-1.40 1.02 1.90 0.82 -0.29 3.56 1.77 0.02 0.14 -2.09 0.28 1.94 0.81 -3.11 -3.35 3.67 1.54 Return on Assets %
11.52 14.15 16.40 14.98 17.16 21.14 16.44 13.92 15.56 7.12 10.16 11.35 8.85 6.11 9.18 14.09 10.26 Return on Capital %
6.22 5.57 8.33 10.69 9.58 11.57 9.67 9.42 9.77 -24.09 7.83 7.93 5.70 7.40 -2.73 6.58 5.66 Return on Invested Capital %
4.35 6.57 8.03 4.38 3.62 7.13 7.91 7.57 6.74 6.37 7.14 6.05 4.61 4.84 0.93 0.46 2.87 Weighted Average Cost Of Capital (WACC) %
-- -- 10.28 10.72 10.51 10.11 7.98 7.56 7.50 7.22 7.10 6.92 5.59 5.74 5.94 5.38 5.34 Effective Interest Rate on Debt %
-- -- 28.01 29.71 25.10 23.65 24.60 24.74 25.10 20.88 20.43 18.48 23.65 23.18 23.41 23.97 23.46 Gross Margin %
24.84 27.70 25.85 27.09 22.29 21.23 22.17 22.20 22.95 19.28 19.05 17.32 21.91 20.79 21.37 22.11 21.52 Operating Margin %
-5.37 3.19 5.36 2.15 -0.70 8.03 4.72 0.06 0.36 -5.31 0.72 4.77 2.72 -10.99 -11.03 11.21 4.90 Net Margin %
4.92 7.23 13.60 7.72 -0.53 -4.49 -2.28 7.48 2.82 4.62 4.57 -1.40 -1.55 5.37 3.11 2.07 2.70 FCF Margin %
36.03 19.44 10.44 5.38 5.69 4.82 4.18 2.90 3.70 4.54 4.86 4.88 6.38 6.96 8.10 6.02 6.29 Debt to Equity
0.02 0.03 0.06 0.10 0.09 0.11 0.12 0.16 0.13 0.11 0.11 0.11 0.09 0.08 0.07 0.10 0.09 Total Equity to Total Asset
0.66 0.64 0.59 0.51 0.52 0.51 0.49 0.46 0.49 0.50 0.52 0.54 0.55 0.54 0.60 0.59 0.59 Total Debt to Total Asset
26.13 31.99 9.92 11.35 10.32 10.49 9.24 9.54 9.41 8.22 7.90 7.51 7.06 6.57 7.12 7.84 7.37 Gross Profit to Total Asset %
0.26 0.32 0.35 0.38 0.41 0.44 0.38 0.39 0.38 0.39 0.39 0.41 0.30 0.28 0.30 0.33 0.31 Asset Turnover
-- -- -- -- -- -- -- -- -- -- 0.42 0.21 0.87 -- -- 0.35 0.75 Dividend Payout Ratio
59.05 59.77 58.70 55.98 60.82 49.05 55.40 53.32 57.18 53.99 54.28 61.32 74.62 50.45 50.71 54.23 52.85 Days Sales Outstanding
-- -- 53.98 35.55 38.47 32.15 64.60 62.43 60.78 68.40 65.21 63.26 66.70 57.21 62.05 59.42 56.83 Days Accounts Payable
-- -- 21.65 20.35 16.60 15.92 19.20 17.46 20.08 20.08 20.25 19.24 29.15 29.88 26.79 25.46 24.89 Days Inventory
59.05 59.77 26.37 40.78 38.95 32.82 10.00 8.35 16.48 5.67 9.32 17.30 37.07 23.12 15.45 20.27 20.91 Cash Conversion Cycle
-- -- 16.86 17.94 21.98 22.92 19.01 20.90 18.17 18.18 18.02 18.97 12.52 12.22 13.62 14.33 14.66 Inventory Turnover
-- -- 0.72 0.70 0.75 0.76 0.75 0.75 0.75 0.79 0.80 0.82 0.76 0.77 0.77 0.76 0.77 COGS to Revenue
0.04 0.04 0.04 0.04 0.03 0.03 0.04 0.04 0.04 0.04 0.04 0.04 0.06 0.06 0.06 0.05 0.05 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AES 2/7
Income Statement
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
8,413 9,392 10,247 11,509 13,516 15,358 13,954 15,443 16,098 17,164 15,891 16,124 11,260 10,281 10,530 10,736 10,380 Revenue
-- -- 7,377 8,090 10,124 11,726 10,521 11,623 12,058 13,581 12,644 13,144 8,597 7,898 8,065 8,163 7,945 Cost of Goods Sold
8,413 9,392 2,870 3,419 3,392 3,632 3,433 3,820 4,040 3,583 3,247 2,980 2,663 2,383 2,465 2,573 2,435 Gross Profit
-- -- 28.01 29.71 25.10 23.65 24.60 24.74 25.10 20.88 20.43 18.48 23.65 23.18 23.41 23.97 23.46 Gross Margin %
157 181 221 301 379 371 339 391 346 274 220 187 196 194 215 192 194 Selling, General, & Admin. Expense
6,166 6,609 -- -- -- -- -- -- -- -- -- -- -- 52.00 -- 7.00 7.00 Other Operating Expense
2,090 2,602 2,649 3,118 3,013 3,261 3,094 3,429 3,694 3,309 3,027 2,793 2,467 2,137 2,250 2,374 2,234 Operating Income
24.84 27.70 25.85 27.09 22.29 21.23 22.17 22.20 22.95 19.28 19.05 17.32 21.91 20.79 21.37 22.11 21.52 Operating Margin %
-- -- 381 434 500 519 348 407 398 348 275 320 256 245 244 310 321 Interest Income
-- -- -1,828 -1,769 -1,788 -1,803 -1,485 -1,449 -1,530 -1,544 -1,482 -1,451 -1,145 -1,134 -1,170 -1,056 -1,045 Interest Expense
-- -- -1,447 -1,335 -1,288 -1,284 -1,137 -1,042 -1,132 -1,196 -1,207 -1,131 -889 -889 -926 -746 -724 Net Interest Income
-1,585 -1,954 -45.00 -869 -204 720 359 -497 -302 -1,883 -772 -219 -589 -1,061 -553 390 -268 Other Income (Expense)
-139 -211 -361 -610 -- -798 -1,097 -1,050 -1,472 -555 -437 -378 -456 -353 -384 -362 -270 Other Income (Minority Interest)
505 648 1,157 914 1,521 2,697 2,316 1,890 2,260 230 1,048 1,443 989 187 771 2,018 1,242 Pre-Tax Income
-211 -380 -473 -359 -679 -771 -599 -593 -656 -685 -343 -371 -412 -32.00 -990 -708 -501 Tax Provision
41.78 58.64 40.88 39.28 44.64 28.59 25.86 31.38 29.03 298 32.73 25.71 41.66 17.11 128 35.08 40.34 Tax Rate %
294 268 365 168 487 1,959 1,809 1,481 1,602 -420 730 1,091 682 191 -148 1,349 752 Net Income (Continuing Operations)
-787 32.00 188 58.00 -582 73.00 -54.00 -422 -72.00 63.00 -179 56.00 80.00 -968 -629 216 26.00 Net Income (Discontinued
Operations)
-452 300 549 247 -95.00 1,234 658 9.00 58.00 -912 114 769 306 -1,130 -1,161 1,203 509 Net Income
-5.37 3.19 5.36 2.15 -0.70 8.03 4.72 0.06 0.36 -5.31 0.72 4.77 2.72 -10.99 -11.03 11.21 4.90 Net Margin %
-0.78 0.47 0.84 0.37 -0.14 1.84 0.99 0.01 0.07 -1.21 0.15 1.07 0.45 -1.72 -1.76 1.82 0.76 EPS (Basic)
-0.78 0.46 0.83 0.37 -0.14 1.82 0.98 0.01 0.07 -1.21 0.15 1.06 0.44 -1.72 -1.76 1.81 0.76 EPS (Diluted)
587 652 665 672 678 689 670 774 783 755 748 724 689 660 660 665 667 Shares Outstanding (Diluted
Average)
781 799 864 933 942 1,001 1,049 1,178 1,262 1,394 1,294 1,245 1,144 1,176 1,169 1,003 1,007 Depreciation, Depletion and
Amortization
2,871 3,401 3,849 3,616 4,251 5,501 4,850 4,517 5,052 3,168 3,824 4,139 3,278 2,497 3,110 4,077 3,294 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AES 3/7
Balance Sheet
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
1,737 1,676 1,798 1,358 2,043 881 1,782 2,525 1,695 1,900 1,642 1,539 1,257 1,244 949 1,166 1,145 Cash And Cash Equivalents
-- -- -- 640 1,306 1,382 1,648 1,718 1,356 693 668 709 469 530 424 313 334 Marketable Securities
1,737 1,676 1,798 1,998 3,349 2,263 3,430 4,243 3,051 2,593 2,310 2,248 1,726 1,774 1,373 1,479 1,479 Cash, Cash Equivalents, Marketable
Securities
1,361 1,538 1,648 1,765 2,252 2,064 2,118 2,256 2,522 2,539 2,363 2,709 2,302 1,421 1,463 1,595 1,503 Accounts Receivable
376 418 457 445 476 547 560 552 775 719 684 702 671 622 562 577 495 Inventories, Other
376 418 457 445 476 547 560 552 775 719 684 702 671 622 562 577 495 Total Inventories
1,412 1,354 1,384 2,279 2,203 2,411 2,655 2,368 2,881 2,614 2,382 2,167 2,143 2,599 3,000 1,364 1,993 Other Current Assets
4,886 4,986 5,287 6,578 8,336 7,316 8,787 9,446 9,229 8,465 7,739 7,826 6,842 6,416 6,398 5,015 5,470 Total Current Assets
-- -- -- 591 730 901 1,157 1,320 1,422 1,196 1,010 537 610 621 1,197 1,114 1,209 Investments And Advances
1,278 919 847 987 1,770 3,408 4,644 4,434 1,788 2,497 3,198 3,784 2,977 2,905 3,617 3,932 4,862 Construction In Progress
22,989 23,436 24,008 23,372 27,493 28,264 32,570 32,072 33,945 33,780 34,716 35,113 30,961 28,334 28,238 29,623 30,452 Gross Property, Plant and Equipment
-4,587 -5,259 -5,975 -6,427 -7,519 -7,385 -8,774 -8,643 -8,944 -9,145 -9,604 -9,962 -8,939 -7,919 -7,942 -8,227 -8,599 Accumulated Depreciation
18,402 18,177 18,033 16,945 19,974 20,879 23,796 23,429 25,001 24,635 25,112 25,151 22,022 20,415 20,296 21,396 21,853 Property, Plant and Equipment
1,378 1,419 1,697 1,912 1,882 1,921 1,809 1,719 4,365 2,323 1,919 1,739 1,497 1,444 1,425 1,495 1,521 Intangible Assets
-- -- -- 1,414 1,416 1,421 1,299 1,271 3,820 1,999 1,622 1,458 1,157 1,157 1,059 1,059 1,059 Goodwill
5,121 4,341 3,943 5,248 3,531 3,789 3,986 4,597 5,329 5,211 4,631 3,713 5,499 7,228 3,796 3,501 3,370 Other Long Term Assets
29,787 28,923 28,960 31,274 34,453 34,806 39,535 40,511 45,346 41,830 40,411 38,966 36,470 36,124 33,112 32,521 33,423 Total Assets
1,225 1,081 1,091 788 1,067 1,033 1,862 1,988 2,008 2,545 2,259 2,278 1,571 1,238 1,371 1,329 1,237 Accounts Payable
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 252 250 230 Total Tax Payable
3,659 3,123 3,629 3,335 3,948 3,917 4,462 4,738 5,724 5,179 4,636 4,864 4,093 2,571 2,831 2,732 2,654 Accounts Payable & Accrued
Expense
2,846 1,761 1,647 1,402 1,365 1,071 1,932 2,996 2,428 2,505 2,180 2,133 2,172 1,052 2,164 1,659 1,882 Current Portion of Long-Term Debt
-- -- -- 313 169 194 227 331 286 635 837 -- 661 1,654 1,033 8.00 455 Other Current Liabilities
6,505 4,884 5,276 5,050 5,482 5,182 6,621 8,065 8,438 8,319 7,653 6,997 6,926 5,277 6,028 4,399 4,991 Total Current Liabilities
16,792 16,827 15,320 14,630 16,625 16,619 17,605 15,792 19,592 18,216 18,869 18,725 17,909 18,402 17,801 17,636 17,879 Long-Term Debt
16,792 16,827 15,320 14,630 16,625 16,619 17,605 15,792 19,592 18,216 18,869 18,725 17,909 18,402 17,801 17,636 17,879 Long-Term Debt & Capital Lease
Obligation
36.03 19.44 10.44 5.38 5.69 4.82 4.18 2.90 3.70 4.54 4.86 4.88 6.38 6.96 8.10 6.02 6.29 Debt to Equity
-- -- -- 844 921 1,017 1,322 1,505 1,729 2,418 1,310 1,342 919 237 -- -- -- PensionAndRetirementBenefit
822 678 777 809 1,187 1,115 1,090 892 1,321 1,179 1,119 1,277 1,090 804 1,006 1,280 1,198 NonCurrent Deferred Liabilities
1,029 1,305 1,626 -- -- 3,358 4,205 3,940 3,783 2,945 3,321 3,053 3,022 2,906 2,380 2,396 2,246 Minority Interest
4,094 4,273 4,335 6,962 7,074 3,846 4,017 3,844 4,537 4,184 3,809 3,300 3,455 5,704 3,432 3,602 3,969 Other Long-Term Liabilities
28,213 26,662 25,708 28,295 31,289 27,779 30,655 30,098 35,617 34,316 32,760 31,641 30,299 30,424 28,267 26,917 28,037 Total Liabilities
6.00 7.00 7.00 7.00 7.00 7.00 7.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 Common Stock
-1,199 -1,844 -1,286 -1,093 -1,241 -8.00 650 620 678 -264 -150 512 143 -1,146 -2,276 -1,005 -614 Retained Earnings
-3,999 -3,641 -3,656 -2,594 -2,378 -3,018 -2,724 -2,383 -2,758 -2,920 -2,882 -3,286 -3,883 -2,756 -1,876 -2,071 -2,335 Accumulated other comprehensive
income (loss)
5,737 6,434 6,561 6,659 6,776 6,832 6,868 8,444 8,507 8,525 8,443 8,409 8,718 8,592 8,501 8,154 7,948 Additional Paid-In Capital
-- -- -- -- -- -144 -126 -216 -489 -780 -1,089 -1,371 -1,837 -1,904 -1,892 -1,878 -1,867 Treasury Stock
545 956 1,626 2,979 3,164 3,669 4,675 6,473 5,946 4,569 4,330 4,272 3,149 2,794 2,465 3,208 3,140 Total Equity
0.02 0.03 0.06 0.10 0.09 0.11 0.12 0.16 0.13 0.11 0.11 0.11 0.09 0.08 0.07 0.10 0.09 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AES 4/7
Cashflow Statement
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
-414 298 549 247 -95.00 2,032 1,755 850 1,142 -441 714 1,147 762 606 -166 1,296 753 Net Income
-414 298 549 247 -95.00 2,032 1,755 850 1,142 -441 714 1,147 762 606 -166 1,296 753 Net Income From Continuing
Operations
781 799 864 933 942 1,001 1,049 1,178 1,262 1,394 1,294 1,245 1,144 1,176 1,169 1,003 1,007 Depreciation, Depletion and
Amortization
-101 -128 -- 94.00 -306 -451 62.00 -98.00 -236 -241 146 -520 -378 237 -177 -206 -54.00 Change In Receivables
-2.00 -33.00 -58.00 -3.00 -26.00 -83.00 -34.00 10.00 -141 24.00 16.00 -48.00 -26.00 42.00 -28.00 -36.00 -26.00 Change In Inventory
-- -- 123 -115 361 -61.00 138 385 -7.00 120 358 -73.00 655 870 107 -22.00 -54.00 Change In Prepaid Assets
695 78.00 -124 -524 -462 486 -220 302 488 283 -663 -174 84.00 -818 216 55.00 9.00 Change In Payables And Accrued
Expense
439 -184 127 -165 -412 -544 -597 608 52.00 -68.00 -344 -1,022 -437 553 -65.00 -186 -135 Change In Working Capital
-96.00 190 100.00 -37.00 -- 160 15.00 -418 -199 162 -158 47.00 -50.00 -793 672 313 96.00 Change In DeferredTax
-- -- -- -- -- -- -- 34.00 -4.00 132 -4.00 59.00 25.00 -42.00 -128 74.00 -47.00 Cash Flow from Discontinued
Operations
866 464 580 1,308 1,918 -488 -20.00 1,247 261 -86.00 548 -59.00 113 257 357 -438 716 Cash Flow from Others
1,642 1,571 2,220 2,348 2,353 2,161 2,202 3,465 2,884 2,901 2,715 1,791 2,134 2,897 2,504 2,343 2,437 Cash Flow from Operations
-1,228 -892 -1,143 -1,460 -2,425 -2,850 -2,520 -2,310 -2,430 -2,108 -1,988 -2,016 -2,308 -2,345 -2,177 -2,121 -2,157 Purchase Of Property, Plant,
Equipment
1,086 63.00 26.00 24.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -85.00 -19.00 -315 -1,135 -- -351 -3,717 -109 -7.00 -728 -20.00 -58.00 -698 -211 -358 Purchase Of Business
-- -- 22.00 898 1,136 1,328 2.00 595 927 639 170 1,807 138 538 108 2,020 450 Sale Of Business
-83.00 -1,371 -1,345 -2,377 -3,014 -5,709 -4,403 -5,795 -5,860 -5,907 -4,443 -4,623 -4,801 -5,151 -3,310 -1,411 -768 Purchase Of Investment
96.00 1,387 1,499 2,011 2,492 5,248 4,526 5,786 6,075 6,437 4,361 4,503 4,851 4,904 3,540 1,302 816 Sale Of Investment
-254 -212 373 16.00 156 -463 478 35.00 99.00 153 133 401 -226 -24.00 -62.00 -84.00 -9.00 Cash From Other Investing Activities
-383 -1,025 -653 -907 -1,970 -3,581 -1,917 -2,040 -4,906 -895 -1,774 -656 -2,366 -2,136 -2,599 -505 -2,026 Cash Flow from Investing
337 16.00 26.00 78.00 58.00 -- -- 1,567 -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -- -- -143 -- -99.00 -279 -301 -322 -308 -482 -79.00 -- -- -- Repurchase of Stock
-530 -734 -1,142 -1,040 646 655 1,240 -841 3,012 -490 405 108 618 36.00 948 -789 364 Net Issuance of Debt
-- -- -- -- -- -597 -846 -- -- -30.00 -119 -144 -276 -290 -317 -344 -358 Cash Flow for Dividends
-160 -218 -223 -355 -460 447 216 -1,333 -1,321 -1,046 -1,100 -918 168 -414 -588 -510 -619 Other Financing
-353 -936 -1,339 -1,317 244 362 610 -706 1,412 -1,867 -1,136 -1,262 28.00 -747 43.00 -1,643 -613 Cash Flow from Financing
945 -382 241 186 696 -1,154 917 727 -732 144 -254 -178 -256 -234 Net Change in Cash
51.00 -44.00 141
-1,228 -892 -826 -1,460 -2,425 -2,850 -2,520 -2,310 -2,430 -2,108 -1,988 -2,016 -2,308 -2,345 -2,177 -2,121 -2,157 Capital Expenditure
414 679 1,394 888 -72.00 -689 -318 1,155 454 793 727 -225 -174 552 327 222 280 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AES 5/7
Valuation Ratios
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
-- 26.80 18.85 61.22 -- 4.58 13.58 609 197 -- 104 12.99 22.26 -- -- 7.99 23.97 PE Ratio(TTM)
-- -- -- -- -- 10.25 -- -- -- -- -- -- -- -- -- 23.36 -- Price to Owner Earnings
(TTM)
10.84 9.29 6.39 4.94 4.53 1.50 1.90 1.48 1.52 1.74 2.42 2.27 2.03 2.74 2.90 2.99 3.85 Price to Book
-- -- -- 13.79 11.19 3.14 3.10 2.02 5.73 3.55 4.35 3.83 3.86 5.67 6.88 5.59 7.47 Price to Tangible Book
13.96 12.92 7.49 16.52 -- -- -- 8.24 20.38 10.06 14.93 -- -- 13.92 21.83 43.55 43.48 Price-to-Free-Cash-Flow
Ratio
3.51 5.63 4.69 6.27 6.19 2.59 4.07 2.73 3.21 2.79 4.00 5.60 3.07 2.65 2.86 4.11 4.99 Price-to-Operating-Cash-
Flow Ratio
0.67 0.94 1.01 1.28 1.08 0.37 0.64 0.61 0.58 0.47 0.68 0.62 0.58 0.75 0.68 0.90 1.17 PS Ratio
-- -- 5.93 6.94 3.07 0.37 0.80 1.54 2.62 -- -- -- -- -- -- -- 84.33 PEG Ratio
2.88 2.89 2.65 2.50 2.14 1.58 2.09 1.81 1.98 1.67 2.05 1.94 2.42 2.75 2.67 2.77 3.14 EV-to-Revenue
11.04 9.69 9.10 10.75 7.64 4.41 6.01 6.18 6.30 9.14 8.51 7.58 8.45 11.31 9.04 7.31 9.90 EV-to-EBITDA
12.12 10.43 9.10 10.75 8.76 5.39 7.67 8.33 8.39 16.29 12.86 10.83 12.96 21.38 14.49 9.69 14.27 EV-to-EBIT
8.25 9.59 10.99 9.30 11.42 18.55 13.04 12.00 11.92 6.14 7.78 9.23 7.72 4.68 6.90 10.32 7.01 Return on Capital %
-16.36 -7.48 3.57 16.10 14.16 21.24 18.71 15.62 8.12 -5.04 -6.71 -3.32 2.38 0.20 1.15 1.19 1.99 Forward Rate of Return
-- -- -- -- -- -- -- -- -- 40.60 37.89 32.42 25.83 71.77 1,096 -- -- Shiller PE Ratio
-- -- -- -- -- -- -- -- -- 0.37 1.10 1.45 4.18 3.79 4.43 3.60 3.03 Dividend Yield %
Valuation and Quality
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
5,909 8,887 10,383 14,714 14,339 5,490 8,887 9,593 9,060 7,964 10,484 9,692 6,381 7,660 7,152 9,577 12,096 Market Cap
24,839 27,104 27,178 28,748 28,980 24,275 29,199 28,078 31,812 29,037 32,544 31,355 27,758 28,246 28,124 29,789 32,624 Enterprise Value
9.44 13.67 15.83 22.04 21.39 8.24 13.31 12.18 11.84 10.70 14.51 13.77 9.57 11.62 10.83 14.46 18.22 Month End Stock Price
-43.94 -40.44 -38.93 -39.39 -41.68 -43.34 -47.07 -37.83 -47.50 -46.58 -46.74 -46.10 -47.38 -47.87 -44.33 -42.03 -43.39 Net Cash (per share)
-38.91 -35.35 -33.61 -32.53 -34.24 -35.76 -39.05 -31.22 -39.43 -38.69 -39.23 -38.17 -39.71 -40.83 -36.72 -36.69 -37.37 Net Current Asset Value
(per share)
-42.01 -38.35 -36.70 -37.08 -38.81 -40.61 -44.27 -35.33 -44.53 -43.54 -43.82 -42.71 -44.29 -45.78 -42.24 -39.78 -41.32 Net-Net Working Capital (per
share)
-12.95 -7.61 -0.94 7.44 12.10 13.08 11.81 12.18 9.19 7.74 9.17 10.52 10.16 8.50 7.80 7.24 5.83 Projected FCF (per share)
40.17 40.49 43.48 22.00 22.96 23.95 19.70 14.48 13.46 14.95 13.83 14.33 10.08 9.47 9.70 10.04 9.97 Median PS (per share)
-16.35 5.16 -- 3.18 6.97 22.34 16.62 7.89 4.52 -- -- -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
-- -- -- 3.00 5.57 10.19 10.12 9.32 5.50 -- 5.34 8.86 5.06 -- -- 9.28 6.29 Graham Number (per share)
-43.89 -38.02 -30.50 -19.42 -18.21 -13.19 -15.18 -11.54 -18.89 -16.08 -12.86 -12.75 -9.51 -1.62 -37.97 -40.06 -42.68 Earnings Power Value
(EPV)
0.34 0.52 0.67 0.79 0.86 1.06 0.93 0.91 0.83 0.69 0.79 0.89 0.64 0.55 0.58 0.83 0.79 Altman Z-Score
5.00 6.00 6.00 6.00 5.00 7.00 5.00 5.00 7.00 4.00 4.00 7.00 5.00 4.00 6.00 7.00 5.00 Piotroski F-Score
-2.92 -2.70 -2.38 -2.54 -2.86 -1.10 -2.70 -2.74 -2.51 -2.61 -2.77 -2.43 -2.78 -3.17 -3.04 -2.58 -2.73 Beneish M-Score
0.56 0.64 0.64 0.59 0.57 0.65 0.72 0.63 0.71 0.57 0.63 0.64 0.63 0.64 0.65 0.71 0.71 Scaled Net Operating
Assets
-5.74 -0.85 -3.52 -3.82 -1.39 7.63 0.94 -3.50 4.59 -6.98 -2.05 -0.94 1.48 -5.23 -3.22 -1.95 0.29 Sloan Ratio (%)
0.75 1.02 1.00 1.30 1.52 1.41 1.33 1.17 1.09 1.02 1.01 1.12 0.99 1.22 1.06 1.14 1.10 Current Ratio
0.69 0.94 0.92 1.21 1.43 1.31 1.24 1.10 1.00 0.93 0.92 1.02 0.89 1.10 0.97 1.01 1.00 Quick Ratio
9.50 13.67 17.65 23.72 23.90 21.99 15.24 14.13 13.38 13.82 15.31 15.57 13.94 13.26 11.95 16.01 21.23 Highest Stock Price
2.72 7.69 12.84 15.83 17.76 6.40 4.91 8.90 9.44 9.72 10.70 12.79 8.83 8.54 10.23 10.06 14.60 Lowest Stock Price
-12.19 -3.85 -0.89 -1.78 -0.41 0.62 -0.22 -17.96 2.85 2.73 2.92 2.58 5.26 1.14 -0.18 -0.29 -0.24 Shares Buyback Ratio (%)
-7.84 0.48 7.00 11.14 16.40 11.81 -6.56 -4.20 3.04 10.58 -6.55 4.83 -26.62 -4.69 2.43 1.18 -4.12 YoY Rev. per Sh. Growth
(%)
89.60 159 80.43 -55.42 -138 1,400 -46.15 -98.98 600 -1,829 112 607 -58.49 -491 -2.33 203 281 YoY EPS Growth (%)
14.12 6.62 10.99 -7.03 16.52 27.34 -9.33 -19.38 10.56 -34.97 21.83 11.83 -16.77 -20.49 24.56 30.11 -16.51 YoY EBITDA Growth (%)
-- -- 4.85 13.23 9.68 12.84 15.68 11.96 7.06 -7.42 -10.86 -7.66 -2.40 -3.54 -2.51 -0.30 0.30 EBITDA 5-Y Growth (%)
579 638 654 661 668 669 667 769 778 755 743 720 687 660 660 662 664 Shares Outstanding (Basic
Average)
626 650 656 668 670 666 668 788 765 744 723 704 667 659 660 662 664 Shares Outstanding (EOP)
2.63 2.74 2.95 0.81 0.65 1.49 1.54 1.45 1.34 1.17 1.10 0.82 1.30 1.38 1.43 0.62 0.80 Beta
03/15/04 03/30/05 04/04/06 05/23/07 03/17/08 02/26/09 02/26/10 02/28/11 02/27/12 02/27/13 02/26/14 02/26/15 02/24/16 02/27/17 02/27/18 02/27/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AES 6/7
03/30/05 04/04/06 03/17/08 02/26/09 02/26/09 02/26/10 02/28/11 02/27/13 02/26/14 02/26/15 02/24/16 02/27/17 02/27/18 02/27/19 02/27/19 02/27/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AES 7/7
Cincinnati Financial Corp (NAS:CINF) 03/02/2020 4:00PM EST GuruFocus
Price: $ 101.36 +8.12(+8.71%) Market Cap: $ 16.49 B Enterprise Value: $16.61 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 8.38
Cash to Debt 0.87 Net-margin (%) 25.20
Forward P/E N/A
Equity to Asset 0.39 ROE (%) 22.27
F-Score: PE(NRI) 8.38
ROA (%) 8.34
9999 P/B 1.67
WACC vs 3.76% Revenue Growth (3Y)(%) 13.60
ROIC 22.52% P/S 2.11
WACC EBITDA Growth (3Y)(%) 42.10
ROIC PFCF 14.14
EPS Growth (3Y)(%) 50.50
POCF 13.86
EV-to-EBIT 6.58
PEG 1.05
Shiller P/E 24.08
Warning Signs Quarterly Revenues Company Description
Valuation: Forward PE Ratio Mar Jun Sep Dec Full Year Cincinnati Financial Corp is a property and casualty insurance company that generates income through written
premiums. A select group of independent agencies actively markets the company's business, home, and automotive
2016 1,364 1,371 1,402 1,312 5,449 insurance within their communities. These agents offer the company's personal lines as well as its standard market,
Insider Sell: Insider Selling
2017 1,523 1,386 1,412 1,411 5,732 excess, and surplus commercial line policies in many regions in the United States. Cincinnati Financial also offers
leasing and financing services. The vast majority of the company's revenue is generated through commercial lines,
2018 1,224 1,558 1,915 710 5,407 followed by personal lines.... (Read More)
Good Signs 2019 2,159 1,913 1,700 2,152 7,924 Competitors: NYSE:MKL , TSE:8725 , TSX:IFC, NYSE:L , NYSE:WRB, TSE:8630 , TSX:FFH, ASX:QBE,
2020 NYSE:CNA, HKSE:02328, NYSE:Y, ASX:SUN, ASX:IAG, NYSE:AFG, LSE:ADM, LSE:RSA, XKRX:000810,
PE Ratio: Close to 10-year HKSE:06060, BSP:SULA3, WAR:PZU
low Quarterly Earnings per Share
Insider Trades
PB Ratio: Close to 1-year low Mar Jun Sep Dec Full Year
2016 1.13 0.74 1.08 0.60 3.55
PS Ratio: Close to 3-year low 2017 1.21 0.60 0.61 3.88 6.30
2018 -0.19 1.32 3.38 -2.78 1.73
DCF 2019 4.22 2.59 1.49 3.79 12.09
2020
GuruFocus does not
calculate intrinsic value: DCF Quarterly Dividends Per Share
(Earnings Based) for Mar Jun Sep Dec Full Year
companies with one star 2016 0.48 0.48 0.48 0.48 1.92
predictability or not rated. But 2017 0.50 0.50 0.50 0.50 2.00
you can go to each stock's 2018 0.53 0.53 0.53 0.53 2.12
DCF page to calculate 2019 0.56 0.56 0.56 0.56 2.24
yourself. 2020
Growth Rate
Reverse DCF
Annual Rates(per share) 10-Y 5-Y 12-M
GuruFocus does not
calculate reverse DCF growth Revenue Growth (%) 6.30 7.70 46.00
rate for companies with one EBITDA Growth (%) 8.40 8.00 605.10
star predictability or not rated. Free Cash Flow Growth (%) 12.90 5.30 1.60
But you can go to each
Book Value Growth (%) 6.90 8.40 25.90
stock's DCF page to calculate
yourself. EPS Growth (%) 12.40 15.00 591.40
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CINF 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
20.26 21.27 25.93 24.74 23.41 23.96 23.10 23.29 25.11 27.39 29.95 31.05 32.73 34.53 32.87 48.00 48.00 Revenue per Share
4.86 5.12 8.09 7.44 3.83 4.14 3.63 1.65 4.06 4.95 5.00 5.95 5.48 5.05 2.23 15.73 15.74 EBITDA per Share
4.70 4.94 7.88 7.23 3.63 3.91 3.38 1.39 3.79 4.64 4.69 5.64 5.20 4.72 1.85 15.29 15.30 EBIT per Share
3.28 3.40 5.30 4.97 2.62 2.65 2.30 1.01 2.57 3.12 3.18 3.83 3.55 6.29 1.75 12.10 12.09 Earnings per Share (diluted)
3.28 3.40 5.30 4.97 2.62 2.65 2.30 1.01 2.57 3.12 3.18 3.83 3.55 6.29 1.75 12.10 12.09 eps without NRI
4.69 4.56 6.92 5.90 3.27 4.70 3.68 1.38 3.67 4.86 5.64 6.38 6.97 6.74 4.18 16.71 16.71 Owner Earnings per Share (TTM)
4.43 4.30 3.21 3.69 2.74 2.97 3.15 1.47 3.86 4.77 5.23 6.43 6.62 6.24 7.06 7.17 7.17 Free Cashflow per Share
1.04 1.21 1.34 1.42 1.56 1.57 1.59 1.61 1.62 1.66 1.76 1.84 1.92 2.00 2.12 2.24 2.24 Dividends per Share
35.64 34.98 39.35 35.72 25.74 29.38 31.06 31.07 33.45 37.24 40.15 39.21 42.94 50.29 48.11 60.55 60.55 Book Value per Share
35.64 34.98 39.35 35.72 25.74 29.38 31.06 31.07 33.45 37.24 40.15 39.21 42.94 50.29 48.11 60.55 60.55 Tangible Book per Share
4.51 4.55 4.86 5.18 5.17 5.18 5.28 5.71 5.71 5.76 5.32 5.22 5.15 5.19 5.32 5.43 5.43 Total Debt per Share
42.15 44.68 45.31 39.54 29.07 26.24 31.69 30.46 39.16 52.37 51.83 59.17 75.75 74.97 77.42 105 101 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9.38 9.76 14.43 13.43 8.49 9.66 7.66 3.26 8.03 8.97 8.30 9.75 8.76 13.66 3.57 22.57 22.27 Return on Equity %
3.69 3.75 5.60 5.05 2.86 3.11 2.54 1.07 2.62 3.02 2.88 3.37 3.01 4.95 1.31 8.44 8.34 Return on Assets %
9.14 9.58 13.78 12.92 9.07 10.55 7.89 3.90 8.08 8.92 8.39 9.89 9.08 14.40 4.25 22.79 22.52 Return on Invested Capital %
8.06 9.02 7.83 6.80 5.03 7.78 7.57 7.06 5.94 7.41 7.10 8.33 7.34 6.99 5.79 4.41 3.76 Weighted Average Cost Of Capital (WACC) %
5.45 6.45 6.50 6.12 6.24 6.55 6.37 6.06 5.82 5.78 5.86 6.14 6.23 6.25 6.17 6.05 6.03 Effective Interest Rate on Debt %
16.16 15.98 20.44 20.08 11.22 11.07 9.94 4.31 10.24 11.41 10.62 12.33 10.85 18.23 5.31 25.20 25.20 Net Margin %
21.86 20.20 12.37 14.91 11.72 12.38 13.63 6.31 15.37 17.41 17.47 20.71 20.22 18.07 21.47 14.94 14.94 FCF Margin %
0.13 0.13 0.12 0.15 0.20 0.18 0.17 0.18 0.17 0.16 0.13 0.13 0.12 0.10 0.11 0.09 0.09 Debt to Equity
0.39 0.38 0.40 0.36 0.31 0.33 0.33 0.32 0.33 0.34 0.35 0.34 0.35 0.38 0.36 0.39 0.39 Total Equity to Total Asset
0.05 0.05 0.05 0.05 0.06 0.06 0.06 0.06 0.06 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04 Total Debt to Total Asset
22.86 23.46 27.39 25.16 25.49 28.07 25.54 24.75 25.55 26.49 27.16 27.32 27.75 27.15 24.70 33.47 33.08 Gross Profit to Total Asset %
0.23 0.24 0.27 0.25 0.26 0.28 0.26 0.25 0.26 0.27 0.27 0.27 0.28 0.27 0.25 0.34 0.33 Asset Turnover
0.32 0.36 0.25 0.29 0.60 0.59 0.69 1.59 0.63 0.53 0.55 0.48 0.54 0.32 1.21 0.19 0.19 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CINF 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,614 3,767 4,550 4,259 3,824 3,903 3,772 3,803 4,111 4,531 4,945 5,142 5,449 5,732 5,407 7,924 7,924 Revenue
3,614 3,767 4,550 4,259 3,824 3,903 3,772 3,803 4,111 4,531 4,945 5,142 5,449 5,732 5,407 7,924 7,924 Gross Profit
885 929 984 13.00 987 20.00 -- -- -- -- -- -- -- -- -- -- -- Selling, General, & Admin. Expense
2,729 2,838 3,566 4,246 2,837 3,883 3,772 3,803 4,111 4,531 4,945 5,142 5,449 5,732 5,407 7,924 7,924 Other Operating Expense
-- -- -- -- -- -- -- -- -- -- -- -- -- 615 626 647 490 Interest Income
-38.00 -51.00 -53.00 -52.00 -53.00 -55.00 -54.00 -54.00 -54.00 -54.00 -53.00 -53.00 -53.00 -53.00 -53.00 -53.00 -53.00 Interest Expense
-38.00 -51.00 -53.00 -52.00 -53.00 -55.00 -54.00 -54.00 -54.00 -54.00 -53.00 -53.00 -53.00 -53.00 -53.00 -53.00 -53.00 Net Interest Income
800 823 1,329 1,192 540 582 498 173 566 714 721 881 812 730 251 2,472 2,472 Other Income (Expense)
800 823 1,329 1,192 540 582 498 173 566 714 721 881 812 730 251 2,472 2,472 Pre-Tax Income
-216 -221 -399 -337 -111 -150 -123 -9.00 -145 -197 -196 -247 -221 315 36.00 -475 -475 Tax Provision
27.00 26.85 30.02 28.27 20.56 25.77 24.70 5.20 25.62 27.59 27.18 28.04 27.22 -43.15 -14.34 19.22 19.22 Tax Rate %
584 602 930 855 429 432 375 164 421 517 525 634 591 1,045 287 1,997 1,997 Net Income (Continuing Operations)
584 602 930 855 429 432 375 164 421 517 525 634 591 1,045 287 1,997 1,997 Net Income
16.16 15.98 20.44 20.08 11.22 11.07 9.94 4.31 10.24 11.41 10.62 12.33 10.85 18.23 5.31 25.20 25.20 Net Margin %
3.30 3.44 5.36 5.01 2.63 2.66 2.30 1.01 2.59 3.16 3.21 3.87 3.59 6.36 1.76 12.24 12.24 EPS (Basic)
3.28 3.40 5.30 4.97 2.62 2.65 2.30 1.01 2.57 3.12 3.18 3.83 3.55 6.29 1.75 12.10 12.09 EPS (Diluted)
178 177 175 172 163 163 163 163 164 165 165 166 167 166 165 165 165 Shares Outstanding (Diluted
Average)
28.00 33.00 38.00 36.00 32.00 38.00 41.00 42.00 44.00 50.00 51.00 52.00 48.00 55.00 63.00 72.00 72.00 Depreciation, Depletion and
Amortization
866 907 1,420 1,280 625 675 593 269 664 818 825 986 913 838 367 2,597 2,597 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CINF 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
306 119 202 226 1,009 557 385 438 487 433 591 544 777 657 784 767 767 Cash And Cash Equivalents
71.00 75.00 95.00 101 84.00 6.00 -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
377 194 297 327 1,093 563 385 438 487 433 591 544 777 657 784 767 767 Cash, Cash Equivalents, Marketable
Securities
-- 1,116 1,128 1,107 1,059 995 1,015 1,828 1,944 2,014 2,073 2,102 2,212 2,155 2,260 2,520 2,520 Accounts Receivable
2,378 1,415 1,533 1,526 2,223 1,633 1,473 2,342 2,506 2,532 2,739 2,708 3,040 2,873 3,115 3,364 3,364 Total Current Assets
12,639 12,657 13,699 12,198 8,807 10,562 11,424 11,801 12,534 13,564 14,386 14,423 15,500 17,051 16,732 19,746 19,746 Investments And Advances
156 168 193 239 236 251 229 227 217 210 194 185 183 185 195 207 207 Gross Property, Plant and Equipment
156 168 193 239 236 251 229 227 217 210 194 185 183 185 195 207 207 Property, Plant and Equipment
934 1,763 1,797 2,674 2,103 1,994 1,969 1,265 1,291 1,356 1,429 1,572 1,663 1,734 1,893 2,091 2,091 Other Long Term Assets
16,107 16,003 17,222 16,637 13,369 14,440 15,095 15,635 16,548 17,662 18,748 18,888 20,386 21,843 21,935 25,408 25,408 Total Assets
-- -- 49.00 69.00 49.00 49.00 49.00 104 104 104 49.00 35.00 20.00 24.00 32.00 39.00 39.00 Current Portion of Long-Term Debt
-- -- 49.00 69.00 49.00 49.00 49.00 104 104 104 49.00 35.00 20.00 24.00 32.00 39.00 39.00 Total Current Liabilities
791 791 791 791 791 790 807 821 827 790 786 786 787 787 788 788 788 Long-Term Debt
-- -- -- -- -- -- -- -- -- 45.00 36.00 35.00 39.00 40.00 46.00 58.00 58.00 Capital Lease Obligation
791 791 791 791 791 790 807 821 827 835 822 821 826 827 834 846 846 Long-Term Debt & Capital Lease
Obligation
0.13 0.13 0.12 0.15 0.20 0.18 0.17 0.18 0.17 0.16 0.13 0.13 0.12 0.10 0.11 0.09 0.09 Debt to Equity
1,834 1,622 1,653 977 -- 152 260 303 453 673 840 638 865 745 627 1,079 1,079 NonCurrent Deferred Liabilities
7,233 7,504 7,921 8,871 8,347 8,689 8,947 9,374 9,711 9,980 10,464 10,967 11,615 12,004 12,609 13,580 13,580 Other Long-Term Liabilities
9,858 9,917 10,414 10,708 9,187 9,680 10,063 10,602 11,095 11,592 12,175 12,461 13,326 13,600 14,102 15,544 15,544 Total Liabilities
370 389 391 393 393 393 393 393 394 397 397 397 397 397 397 397 397 Common Stock
2,057 2,088 2,786 3,404 3,579 3,862 3,980 3,863 4,021 4,268 4,505 4,762 5,037 5,180 7,625 9,257 9,257 Retained Earnings
3,787 3,284 3,379 2,151 347 624 769 901 1,129 1,504 1,744 1,344 1,693 2,788 22.00 448 448 Accumulated other comprehensive
income (loss)
618 969 1,015 1,049 1,069 1,081 1,091 1,096 1,134 1,191 1,214 1,232 1,252 1,265 1,281 1,306 1,306 Additional Paid-In Capital
-583 -644 -763 -1,068 -1,206 -1,200 -1,201 -1,220 -1,225 -1,290 -1,287 -1,308 -1,319 -1,387 -1,492 -1,544 -1,544 Treasury Stock
6,249 6,086 6,808 5,929 4,182 4,760 5,032 5,033 5,453 6,070 6,573 6,427 7,060 8,243 7,833 9,864 9,864 Total Equity
0.39 0.38 0.40 0.36 0.31 0.33 0.33 0.32 0.33 0.34 0.35 0.34 0.35 0.38 0.36 0.39 0.39 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CINF 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
584 602 930 855 429 432 375 164 421 517 525 634 591 1,045 287 1,997 1,997 Net Income
584 602 930 855 429 432 375 164 421 517 525 634 591 1,045 287 1,997 1,997 Net Income From Continuing
Operations
28.00 33.00 38.00 36.00 32.00 38.00 41.00 42.00 44.00 50.00 51.00 52.00 48.00 55.00 63.00 72.00 72.00 Depreciation, Depletion and
Amortization
-118 2.00 -13.00 -50.00 43.00 148 79.00 -128 -118 -70.00 -62.00 -54.00 -118 77.00 -107 -175 -175 Change In Receivables
-- -19.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
-17.00 -7.00 -23.00 -22.00 41.00 5.00 -- -- -- -- -- -- -- -- -- -- -- Change In Payables And Accrued
Expense
233 170 288 134 239 267 186 65.00 129 231 327 379 491 470 395 362 362 Change In Working Capital
45.00 33.00 -5.00 12.00 -127 71.00 29.00 -18.00 26.00 19.00 37.00 16.00 38.00 -444 -47.00 343 343 Change In DeferredTax
-- -- 17.00 14.00 15.00 10.00 11.00 13.00 16.00 18.00 19.00 20.00 23.00 26.00 28.00 30.00 30.00 Stock Based Compensation
-67.00 -33.00 -653 -346 -104 -293 -111 -19.00 2.00 -39.00 -86.00 -26.00 -76.00 -100.00 455 -1,596 -1,596 Cash Flow from Others
823 805 615 705 484 525 531 247 638 796 873 1,075 1,115 1,052 1,208 1,208 Cash Flow from Operations
1,181
-33.00 -44.00 -52.00 -70.00 -36.00 -42.00 -17.00 -7.00 -6.00 -7.00 -9.00 -10.00 -13.00 -16.00 -20.00 -24.00 -24.00 Purchase Of Property, Plant,
Equipment
-1,866 -1,516 -1,442 -2,453 -2,466 -2,931 -1,879 -1,417 -1,586 -1,641 -1,695 -2,214 -2,447 -2,251 -1,989 -2,196 -2,196 Purchase Of Investment
1,304 809 1,297 1,648 4,009 2,171 1,365 1,418 1,287 1,148 1,380 1,584 1,991 1,718 1,566 1,546 1,546 Sale Of Investment
-6.00 -20.00 -17.00 13.00 2.00 -13.00 2.00 -2.00 1.00 -9.00 13.00 16.00 13.00 -9.00 -8.00 -5.00 -6.00 Cash From Other Investing Activities
-601 -771 -214 -862 1,509 -815 -529 -8.00 -304 -509 -311 -624 -456 -558 -451 -679 -679 Cash Flow from Investing
-- 11.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-59.00 -61.00 -120 -307 -139 -- -10.00 -32.00 -- -52.00 -21.00 -53.00 -39.00 -92.00 -125 -67.00 -- Repurchase of Stock
188 -- 49.00 780 -780 -- -- 55.00 -- -- -55.00 -14.00 -15.00 4.00 8.00 7.00 -- Net Issuance of Debt
-177 -204 -228 -240 -250 -249 -252 -255 -256 -263 -278 -366 -306 -400 -336 -355 -355 Cash Flow for Dividends
41.00 44.00 -19.00 -52.00 -41.00 87.00 88.00 46.00 -29.00 -26.00 -50.00 -65.00 -66.00 -126 -150 -131 -191 Other Financing
-7.00 -221 -318 181 -1,210 -162 -174 -186 -285 -341 -404 -498 -426 -614 -603 -546 -546 Cash Flow from Financing
215 -187 83.00 24.00 783 -452 -172 53.00 49.00 -54.00 158 -47.00 233 -120 127 -17.00 -17.00 Net Change in Cash
-33.00 -44.00 -52.00 -70.00 -36.00 -42.00 -17.00 -7.00 -6.00 -7.00 -9.00 -10.00 -13.00 -16.00 -20.00 -24.00 -24.00 Capital Expenditure
790 761 563 635 448 483 514 240 632 789 864 1,065 1,102 1,036 1,161 1,184 1,184 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CINF 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.89 13.18 8.57 7.97 11.18 9.90 13.78 29.86 15.18 16.73 16.25 15.49 21.34 11.90 44.75 8.70 8.38 PE Ratio(TTM)
8.99 9.80 6.55 6.71 8.88 5.59 8.61 22.06 10.67 10.77 9.19 9.27 10.86 11.13 18.51 6.29 6.07 Price to Owner Earnings
(TTM)
1.18 1.28 1.15 1.11 1.13 0.89 1.02 0.98 1.17 1.41 1.29 1.51 1.76 1.49 1.61 1.74 1.67 Price to Book
1.18 1.28 1.15 1.11 1.13 0.89 1.02 0.98 1.17 1.41 1.29 1.51 1.76 1.49 1.61 1.74 1.67 Price to Tangible Book
9.56 10.43 14.16 10.74 10.71 8.85 10.04 20.69 10.15 10.99 9.90 9.20 11.44 12.01 10.94 14.67 14.14 Price-to-Free-Cash-Flow
Ratio
9.18 9.86 12.96 9.67 9.91 8.14 9.71 20.12 10.05 10.89 9.80 9.12 11.31 11.83 10.76 14.38 13.86 Price-to-Operating-Cash-
Flow Ratio
2.10 2.11 1.75 1.60 1.25 1.09 1.37 1.31 1.56 1.91 1.73 1.91 2.31 2.17 2.35 2.19 2.11 PS Ratio
0.47 0.25 0.18 0.24 3.00 -- -- -- -- 186 2.47 0.70 0.99 3.11 -- 1.61 1.05 PEG Ratio
2.16 2.22 1.84 1.67 1.17 1.16 1.49 1.43 1.66 2.00 1.77 1.95 2.30 2.18 2.35 2.18 2.10 EV-to-Revenue
9.01 9.24 5.90 5.54 7.15 6.70 9.45 20.15 10.28 11.05 10.62 10.15 13.72 14.89 34.57 6.64 6.40 EV-to-EBITDA
9.31 9.59 6.06 5.70 7.54 7.10 10.15 23.88 11.01 11.77 11.32 10.72 14.48 15.94 41.73 6.83 6.58 EV-to-EBIT
10.74 10.43 16.50 17.54 13.26 14.08 9.85 4.19 9.08 8.50 8.83 9.33 6.91 6.27 2.40 14.64 15.20 Return on Capital %
28.58 28.37 28.42 30.05 16.06 3.11 -3.64 -9.20 -5.59 5.98 13.73 27.23 26.93 11.59 3.74 11.72 11.96 Forward Rate of Return
25.32 23.51 19.35 14.50 10.32 8.82 9.99 9.45 11.62 15.06 15.30 17.45 23.84 22.63 23.85 24.98 24.08 Shiller PE Ratio
2.46 2.70 2.96 3.59 5.37 5.98 5.02 5.27 4.14 3.16 3.40 3.11 2.53 2.67 2.74 2.13 2.21 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
7,391 7,774 7,839 6,564 4,724 4,251 5,134 4,935 6,383 8,536 8,485 9,698 12,453 12,288 12,604 17,129 16,490 Market Cap
7,805 8,371 8,382 7,097 4,471 4,527 5,605 5,422 6,827 9,042 8,765 10,010 12,522 12,482 12,686 17,247 16,608 Enterprise Value
42.15 44.68 45.31 39.54 29.07 26.24 31.69 30.46 39.16 52.37 51.83 59.17 75.75 74.97 77.42 105 101 Month End Stock Price
-54.07 -55.88 -58.48 -62.54 -49.81 -56.28 -59.74 -62.74 -65.08 -68.46 -70.76 -72.71 -76.33 -78.97 -81.81 -90.71 -90.71 Net Cash (per share)
-54.07 -51.07 -53.59 -57.53 -44.92 -51.67 -55.04 -54.28 -56.13 -59.19 -61.27 -63.09 -66.24 -69.11 -71.39 -79.11 -79.11 Net-Net Working Capital (per
share)
66.66 68.85 88.34 89.29 60.96 59.15 58.42 52.83 55.07 59.05 65.81 72.74 81.81 102 96.48 113 113 Projected FCF (per share)
49.16 51.92 63.50 55.46 50.34 50.04 46.02 41.66 41.07 44.82 48.97 50.77 53.53 57.52 57.70 87.36 87.36 Median PS (per share)
81.75 84.75 132 124 32.96 -- -- -- -- -- 21.02 84.04 76.18 -- -- 65.17 65.17 Peter Lynch Fair Value (per
share)
51.28 51.73 68.50 63.20 38.95 41.86 40.09 26.57 43.98 51.13 53.60 58.13 58.57 84.37 43.53 128 128 Graham Number (per share)
-3.70 -4.92 -5.14 -5.66 -1.06 -4.21 -5.15 -4.65 -3.62 -3.54 -1.94 -1.94 -0.46 -1.58 -1.11 -1.56 -1.56 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-3.29 -2.58 -2.34 -2.28 -21.97 -2.36 -2.34 -2.36 -2.31 -2.34 -2.35 -- -- -- -- -- -- Beneish M-Score
0.43 0.42 0.47 0.38 0.24 0.38 0.38 0.37 0.38 0.40 0.39 0.36 0.38 0.41 0.36 0.46 0.40 Scaled Net Operating
Assets
2.25 3.55 3.07 6.08 -11.70 5.00 2.47 -0.48 0.53 1.30 -0.20 0.97 -0.33 2.52 -2.02 5.78 5.78 Sloan Ratio (%)
43.34 45.68 49.15 47.62 39.97 29.09 32.22 34.18 40.63 52.95 52.44 61.49 78.84 80.52 82.64 117 118 Highest Stock Price
36.95 38.62 41.43 36.91 18.80 18.10 25.52 24.03 30.45 39.16 45.21 49.75 54.11 68.69 66.33 74.40 83.00 Lowest Stock Price
0.60 0.77 0.57 4.05 2.11 0.31 -- -- -0.62 -- -0.43 -0.12 -0.31 0.30 0.67 -0.06 -0.06 Shares Buyback Ratio (%)
13.69 4.98 21.93 -4.61 -5.38 2.38 -3.60 0.81 7.84 9.08 9.34 3.67 5.40 5.51 -4.81 46.02 45.70 YoY Rev. per Sh. Growth
(%)
56.55 3.66 55.88 -6.23 -47.28 1.15 -13.21 -56.09 154 21.40 1.92 20.44 -7.31 77.18 -72.18 591 599 YoY EPS Growth (%)
59.28 5.48 58.04 -8.13 -48.54 8.31 -12.36 -54.65 146 21.94 1.03 19.15 -7.91 -7.93 -55.80 605 606 YoY EBITDA Growth (%)
27.36 52.57 47.75 33.45 3.73 -9.28 -13.87 -18.59 -12.96 0.09 6.59 22.00 21.46 3.83 -4.41 5.39 8.00 EBITDA 5-Y Growth (%)
178 177 173 171 163 163 163 163 163 164 164 164 165 164 163 163 163 Shares Outstanding (Basic
Average)
175 174 173 166 163 162 162 162 163 163 164 164 164 164 163 163 163 Shares Outstanding (EOP)
0.68 0.83 0.57 0.51 0.48 0.76 0.78 0.90 0.71 0.78 0.87 1.07 0.85 0.77 0.51 0.41 0.42 Beta
03/14/05 03/10/06 02/28/07 02/29/08 02/27/09 02/26/10 02/25/11 02/29/12 02/27/13 02/27/14 02/27/15 02/26/16 02/24/17 02/23/18 02/22/19 02/25/20 Filing Date
02/28/07 02/29/08 02/27/09 02/26/10 02/25/11 02/29/12 02/27/13 02/27/14 02/27/15 02/26/16 02/24/17 02/23/18 02/22/19 02/25/20 02/25/20 02/25/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CINF 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CINF 7/7
General Motors Co (NYSE:GM) 03/02/2020 4:10PM EST GuruFocus
Price: $ 31.42 +0.92(+3.02%) Market Cap: $ 44.9 B Enterprise Value: $130.16 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 6.87
Cash to Debt 0.22 Operating margin (%) 3.99
Forward P/E N/A
Equity to Asset 0.18 Net-margin (%) 4.91
PE(NRI) 6.87
Interest Coverage 7.01 ROE (%) 15.76
F-Score:
P/B 1.05
ROA (%) 2.92
5 P/S 0.33
Z-Score: ROC (Joel Greenblatt) (%) 9.65
0.98 POCF 3.00
Revenue Growth (3Y)(%) 0.10
M-Score: EV-to-EBIT 15.84
-2.70 EBITDA Growth (3Y)(%) 2.90
PEG 0.39
WACC vs 2.88% EPS Growth (3Y)(%) -8.70
ROIC 3.88% Shiller P/E 8.12
WACC
ROIC Current Ratio 0.88
Quick Ratio 0.76
Days Inventory 32.32
Days Sales Outstanding 88.83
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Declined Mar Jun Sep Dec Full Year General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight
brands and operates under three segments: GM North America, GM International, and GM Financial. The United
2016 37,265 37,383 38,889 39,896 153,433 States now has four brands instead of eight. The company remains the market leader in the U.S. with 17% share in
Long-Term Debt: Issuing new
2017 37,266 36,984 33,623 37,715 145,588 2018. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit....
debt (Read More)
2018 36,099 36,760 35,791 38,399 147,049
Competitors: XTER:DAI, XTER:BMW, TSE:7267 , SHSE:600104 , NAS:TSLA, MIL:RACE, NYSE:F, XTER:NSU,
Stock buyback: Poor 2019 34,878 36,060 35,473 30,826 137,237 XTER:VOW3, NYSE:FCAU, TSE:7201, XKRX:005387, NSE:MARUTI, XPAR:UG, XTER:PAH3, HKSE:01211,
buyback track record 2020 TSE:7270, TSE:7269, XPAR:RNO, TSE:6201
Operating Income: loss Quarterly Earnings per Share Insider Trades
Mar Jun Sep Dec Full Year
Good Signs 2016 1.24 1.81 1.76 1.19 6.00
2017 1.70 1.09 -2.06 -3.52 -2.79
Operating Margin %: 2018 0.72 1.66 1.75 1.40 5.53
Expansion 2019 1.48 1.66 1.60 -0.17 4.57
Dividend Yield %: Close to 2020
10-year high Quarterly Dividends Per Share
PB Ratio: Close to 10-year Mar Jun Sep Dec Full Year
low 2016 0.38 0.38 0.38 0.38 1.52
PS Ratio: Close to 5-year low 2017 0.38 0.38 0.38 0.38 1.52
2018 0.38 0.38 0.38 0.38 1.52
Insider Buy: Insider Buying 2019 0.38 0.38 0.38 0.38 1.52
2020
DCF Growth Rate
GuruFocus does not Annual Rates(per share) 10-Y 5-Y 12-M
calculate intrinsic value: DCF
Revenue Growth (%) 0.20 2.40 -7.20
(Earnings Based) for
companies with one star EBITDA Growth (%) -4.40 17.10 -2.90
predictability or not rated. But Free Cash Flow Growth (%) 0.00 -30.10 0.00
you can go to each stock's
Book Value Growth (%) 4.80 4.30 7.50
DCF page to calculate
yourself. EPS Growth (%) -16.80 4.80 -18.10
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GM 1/7
Per Share Data
-- -- -- -- Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- 257 113 83.49 90.09 90.90 92.74 92.43 82.76 95.02 97.58 103 95.37 95.39 Revenue per Share
-- -- -- -- -28.92 130 8.48 10.28 6.30 9.45 7.05 9.93 14.26 16.55 15.98 15.52 15.53 EBITDA per Share
-- -- -- -- -46.54 117 4.21 5.83 -16.84 4.65 2.76 5.36 8.01 8.34 6.43 5.71 5.71 EBIT per Share
-- -- -- -- -53.47 113 2.89 4.58 2.92 2.38 1.65 5.91 6.00 -2.65 5.53 4.57 4.57 Earnings per Share (diluted)
-- -- -- -- -53.47 113 2.89 4.58 2.92 2.38 1.65 5.89 6.00 0.22 5.58 4.57 4.57 eps without NRI
-- -- -- -- -- -- -- -- -- -0.77 -2.31 1.61 5.08 -0.87 -0.16 -4.10 -4.10 Owner Earnings per Share (TTM)
-- -- -- -- -33.84 -24.45 1.58 0.65 0.89 1.68 -1.07 -6.18 -7.18 -6.91 -7.16 -6.24 -6.25 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- 1.20 1.38 1.52 1.52 1.52 1.52 1.52 Dividends per Share
-- -- -- -- -148 22.97 17.19 17.72 18.92 26.33 22.16 26.58 29.22 25.00 27.76 29.85 29.85 Book Value per Share
-- -- -- -- -148 -25.91 -11.91 -7.22 12.49 21.51 18.15 22.62 25.13 20.82 23.77 26.04 26.04 Tangible Book per Share
-- -- -- -- 79.34 17.06 7.17 8.22 11.75 24.12 29.17 42.07 50.08 67.30 74.97 74.52 74.52 Total Debt per Share
-- -- -- -- -- -- 36.86 20.27 28.83 40.87 34.91 34.01 34.84 40.99 33.45 36.60 31.42 Month End Stock Price
Ratios
-- -- -- -- Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- 16.26 20.42 13.07 9.56 7.18 25.72 22.52 -9.84 21.43 16.32 15.76 Return on Equity %
-- -- -- -- -33.99 92.22 4.49 6.48 4.21 3.39 2.30 5.21 4.53 -1.78 3.64 2.96 2.92 Return on Assets %
-- -- -- -- -67.93 372 36.05 45.17 -114 26.26 12.73 19.34 21.24 17.03 11.40 9.82 9.65 Return on Capital %
-- -- -- -- -- -- 24.90 34.33 3.04 10.67 2.98 9.43 7.67 0.24 3.69 3.96 3.88 Return on Invested Capital %
-- -- -- -- -- -- -- -- 10.00 10.06 6.27 6.68 5.98 5.19 3.04 3.45 2.88 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.50 19.84 8.27 4.57 3.38 1.28 0.97 0.77 0.81 0.68 0.66 0.75 0.74 Effective Interest Rate on Debt %
-- -- -- -- -0.19 -7.27 12.30 12.71 7.10 11.62 8.86 12.84 12.76 12.52 9.59 10.18 10.18 Gross Margin %
-- -- -- -- -13.84 -20.10 3.77 4.62 -2.11 3.65 1.06 4.08 5.82 5.95 3.02 3.99 3.99 Operating Margin %
-- -- -- -- -20.77 100 4.55 6.12 4.06 3.44 2.53 7.14 6.32 -2.65 5.45 4.91 4.91 Net Margin %
-- -- -- -- -13.15 -21.63 1.89 0.72 0.98 1.81 -1.16 -7.47 -7.56 -7.08 -6.96 -6.54 -6.54 FCF Margin %
-- -- -- -- -0.54 0.74 0.30 0.34 0.44 0.85 1.32 1.58 1.71 2.69 2.70 2.50 2.50 Debt to Equity
-- -- -- -- -0.94 0.16 0.26 0.26 0.24 0.26 0.20 0.21 0.20 0.17 0.17 0.18 0.18 Total Equity to Total Asset
-- -- -- -- 0.51 0.12 0.08 0.09 0.11 0.22 0.26 0.33 0.34 0.44 0.46 0.46 0.46 Total Debt to Total Asset
-- -- -- -- -0.31 -6.69 12.12 13.48 7.36 11.44 8.03 9.37 9.15 8.40 6.41 6.14 6.05 Gross Profit to Total Asset %
-- -- -- -- 1.64 0.92 0.99 1.06 1.04 0.98 0.91 0.73 0.72 0.67 0.67 0.60 0.59 Asset Turnover
-- -- -- -- -- -- -- -- -- -- 0.73 0.23 0.25 6.91 0.27 0.33 0.33 Dividend Payout Ratio
-- -- -- -- 20.43 26.24 23.42 32.10 34.61 53.57 59.94 70.96 60.74 71.92 82.90 88.83 88.83 Days Sales Outstanding
-- -- -- -- 54.43 60.92 65.98 68.32 64.94 62.76 57.86 74.24 65.43 68.58 61.21 62.24 62.24 Days Accounts Payable
-- -- -- -- 32.27 37.90 34.12 36.80 37.47 38.20 35.55 42.28 34.78 31.10 28.11 29.93 32.32 Days Inventory
-- -- -- -- -1.73 3.22 -8.44 0.58 7.14 29.01 37.63 39.00 30.09 34.44 49.80 56.52 58.91 Cash Conversion Cycle
-- -- -- -- 11.31 9.63 10.70 9.92 9.74 9.56 10.27 8.63 10.49 11.74 12.98 12.20 11.30 Inventory Turnover
-- -- -- -- 1.00 1.07 0.88 0.87 0.93 0.88 0.91 0.87 0.87 0.87 0.90 0.90 0.90 COGS to Revenue
-- -- -- -- 0.09 0.11 0.08 0.09 0.10 0.09 0.09 0.10 0.08 0.08 0.07 0.07 0.08 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GM 2/7
Income Statement
-- -- -- -- Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- 148,979 104,589 135,592 150,276 152,256 155,427 155,929 135,725 149,184 145,588 147,049 137,237 137,237 Revenue
-- -- -- -- 149,257 112,195 118,920 131,171 141,443 137,373 142,121 118,299 130,153 127,357 132,954 123,265 123,265 Cost of Goods Sold
-- -- -- -- -278 -7,606 16,672 19,105 10,813 18,054 13,808 17,426 19,031 18,231 14,095 13,972 13,972 Gross Profit
-- -- -- -- -0.19 -7.27 12.30 12.71 7.10 11.62 8.86 12.84 12.76 12.52 9.59 10.18 10.18 Gross Margin %
-- -- -- -- 14,253 13,417 11,446 12,163 14,031 12,382 12,158 11,888 10,345 9,570 9,650 8,491 8,491 Selling, General, & Admin.
Expense
-- -- -- -- 6,089 -- 118 -- -- -- -- -- -- -- -- -- -- Other Operating Expense
-- -- -- -- -20,620 -21,023 5,108 6,942 -3,218 5,672 1,650 5,538 8,686 8,661 4,445 5,481 5,481 Operating Income
-- -- -- -- -13.84 -20.10 3.77 4.62 -2.11 3.65 1.06 4.08 5.82 5.95 3.02 3.99 3.99 Operating Margin %
-- -- -- -- 424 1,292 465 455 343 246 211 614 182 266 335 429 429 Interest Income
-- -- -- -- -2,525 -6,122 -1,098 -540 -489 -334 -403 -423 -563 -575 -655 -782 -782 Interest Expense
-- -- -- -- -2,101 -4,830 -633 -85.00 -146 -88.00 -192 191 -381 -309 -320 -353 -353 Net Interest Income
-- -- -- -- -6,750 128,346 1,262 2,320 -25,331 1,874 2,788 2,642 3,703 3,511 4,424 2,308 2,308 Other Income (Expense)
-- -- -- -- 108 -396 -331 -97.00 52.00 15.00 -69.00 72.00 159 18.00 9.00 65.00 65.00 Other Income (Minority
Interest)
-- -- -- -- -29,471 102,493 5,737 9,177 -28,695 7,458 4,246 8,371 12,008 11,863 8,549 7,436 7,436 Pre-Tax Income
-- -- -- -- -1,766 2,166 -672 110 34,831 -2,127 -228 1,219 -2,739 -11,533 -474 -769 -769 Tax Provision
-- -- -- -- -5.99 -2.11 11.71 -1.20 121 28.52 5.37 -14.56 22.81 97.22 5.54 10.34 10.34 Tax Rate %
-- -- -- -- -31,051 105,217 6,503 9,287 6,136 5,331 4,018 9,590 9,269 330 8,075 6,667 6,667 Net Income (Continuing
Operations)
-- -- -- -- -- -- -- -- -- -- -- 25.00 -1.00 -4,212 -70.00 -- -- Net Income (Discontinued
Operations)
-- -- -- -- -30,943 104,821 6,172 9,190 6,188 5,346 3,949 9,687 9,427 -3,864 8,014 6,732 6,732 Net Income
-- -- -- -- -20.77 100 4.55 6.12 4.06 3.44 2.53 7.14 6.32 -2.65 5.45 4.91 4.91 Net Margin %
-- -- -- -- -- 131 1,504 859 859 1,576 1,145 -- -- 16.00 98.00 151 151 Preferred dividends
-- -- -- -- -53.47 113 3.11 4.94 3.10 2.71 1.75 6.11 6.12 -2.65 5.61 4.62 4.63 EPS (Basic)
-- -- -- -- -53.47 113 2.89 4.58 2.92 2.38 1.65 5.91 6.00 -2.65 5.53 4.57 4.57 EPS (Diluted)
-- -- -- -- 579 925 1,624 1,668 1,675 1,676 1,687 1,640 1,570 1,492 1,431 1,439 1,439 Shares Outstanding (Diluted
Average)
-- -- -- -- 10,203 11,384 6,930 7,427 38,762 8,041 7,238 7,487 9,819 12,261 13,669 14,118 14,118 Depreciation, Depletion and
Amortization
-- -- -- -- -16,743 119,999 13,765 17,144 10,556 15,833 11,887 16,281 22,390 24,699 22,873 22,336 22,336 EBITDA
Balance Sheet
-- -- -- -- Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GM 3/7
-- -- -- -- 14,053 22,679 21,061 16,071 18,422 20,021 18,954 15,238 12,574 15,512 20,844 19,069 19,069 Cash And Cash Equivalents
-- -- -- -- 141 134 5,555 16,148 8,988 8,972 9,222 8,163 11,841 8,313 5,966 4,174 4,174 Marketable Securities
-- -- -- -- 14,194 22,813 26,616 32,219 27,410 28,993 28,176 23,401 24,415 23,825 26,810 23,243 23,243 Cash, Cash Equivalents,
Marketable Securities
-- -- -- -- 8,340 7,518 8,699 13,215 14,439 22,813 25,606 26,388 24,827 28,685 33,399 33,398 33,398 Accounts Receivable
-- -- -- -- 4,849 -- -- 6,486 6,560 5,872 5,380 5,147 5,008 4,203 4,274 4,713 4,713 Inventories, Raw Materials &
Components
-- -- -- -- -- 4,201 5,487 -- -- -- -- -- -- -- -- -- -- Inventories, Work In Process
-- -- -- -- -1,233 -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Inventories
Adjustments
-- -- -- -- 9,579 5,906 6,638 7,838 8,154 8,167 8,262 8,617 6,032 6,460 5,542 5,685 5,685 Inventories, Finished Goods
-- -- -- -- 13,195 10,107 12,125 14,324 14,714 14,039 13,642 13,764 11,040 10,663 9,816 10,398 10,398 Total Inventories
-- -- -- -- 8,960 18,809 5,613 5,165 13,433 15,656 16,202 5,855 15,921 5,571 5,268 7,953 7,953 Other Current Assets
-- -- -- -- 44,267 59,247 53,053 64,923 69,996 81,501 83,626 69,408 76,203 68,744 75,293 74,992 74,992 Total Current Assets
-- -- -- -- 4,063 7,936 8,529 6,790 6,883 8,094 8,350 9,201 8,996 9,073 9,215 8,562 8,562 Investments And Advances
-- -- -- -- 1,162 2,602 2,536 2,502 2,107 1,868 1,695 1,636 1,587 1,647 1,349 1,302 1,302 Land And Improvements
-- -- -- -- 18,974 4,292 4,324 4,701 4,601 4,971 5,236 5,562 6,217 7,471 9,173 9,705 9,705 Buildings And Improvements
-- -- -- -- 49,529 6,686 8,727 18,203 21,936 27,196 33,033 51,919 75,314 87,910 93,840 95,455 95,455 Machinery, Furniture,
Equipment
-- -- -- -- 2,938 1,649 1,754 3,070 3,018 2,644 4,114 4,633 4,493 6,188 4,680 3,042 3,042 Construction In Progress
-- -- -- -- 83,377 19,972 22,512 28,476 31,662 36,679 44,078 63,750 87,611 103,216 109,042 109,504 109,504 Gross Property, Plant and
Equipment
-- -- -- -- -43,712 -1,285 -3,277 -4,686 -5,817 -7,429 -9,275 -12,349 -20,666 -24,081 -26,725 -28,699 -28,699 Accumulated Depreciation
-- -- -- -- 39,665 18,687 19,235 23,790 25,845 29,250 34,803 51,401 66,945 79,135 82,317 80,805 80,805 Property, Plant and Equipment
-- -- -- -- 265 45,219 43,660 39,033 8,782 7,228 6,410 5,947 6,149 5,849 5,579 5,337 5,337 Intangible Assets
-- -- -- -- -- 30,672 31,778 29,019 1,973 1,560 1,427 1,371 1,856 1,857 Goodwill
1,861
1,859 1,859
-- -- -- -- 2,779 5,206 14,421 10,067 37,916 40,271 44,312 58,381 63,397 49,681 54,935 58,341 58,341 Other Long Term Assets
-- -- -- -- 91,039 136,295 138,898 144,603 149,422 166,344 177,501 194,338 221,690 212,482 227,339 228,037 228,037 Total Assets
-- -- -- -- 22,259 18,725 21,497 24,551 25,166 23,621 22,529 24,062 23,333 23,929 22,297 21,018 21,018 Accounts Payable
-- -- -- -- 54,686 41,013 44,916 46,289 47,148 46,978 49,091 49,428 46,531 46,525 46,842 44,271 44,271 Accounts Payable & Accrued
Expense
-- -- -- -- 16,920 10,221 1,616 5,488 5,518 14,158 14,944 19,562 23,797 26,965 31,891 37,400 37,400 Current Portion of Long-Term
Debt
-- -- -- -- -- -- -- 1,137 1,326 1,276 1,622 2,227 2,695 3,400 3,504 3,234 3,234 Current Deferred Revenue
-- -- -- -- -- -- -- 1,137 1,326 1,276 1,622 2,227 2,695 3,400 3,504 3,234 3,234 DeferredTaxAndRevenue
-- -- -- -- 4,002 1,201 625 312 -- -- -- -- 12,158 ---- Other Current Liabilities
-- --
-- -- -- -- 75,608 52,435 47,157 53,226 53,992 62,412 65,657 71,217 85,181 76,890 82,237 84,905 84,905 Total Current Liabilities
-- -- -- -- 29,018 5,562 9,142 6,514 10,532 22,025 31,721 43,549 51,326 67,254 73,060 65,924 65,924 Long-Term Debt
-- -- -- -- -- -- -- 853 -- -- -- -- -- -- -- 1,010 1,010 Capital Lease Obligation
-- -- -- -- 29,018 5,562 9,142 7,367 10,532 22,025 31,721 43,549 51,326 67,254 73,060 66,934 66,934 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -0.54 0.74 0.30 0.34 0.44 0.85 1.32 1.58 1.71 2.69 2.70 2.50 2.50 Debt to Equity
-- -- -- -- 54,097 35,794 31,188 34,965 37,606 27,788 32,325 28,325 22,723 20,998 18,441 19,442 19,442 PensionAndRetirementBenefit
-- -- -- -- 17,392 13,279 13,021 1,300 1,169 1,249 1,556 2,007 2,285 2,887 2,959 2,962 2,962 NonCurrent Deferred Liabilities
-- -- -- -- 484 708 979 871 756 567 567 452 239 1,199 3,917 4,165 4,165 Minority Interest
-- -- -- -- -- 7,268 1,231 8,754 9,123 9,696 10,218 8,917 16,100 8,253 7,865 7,837 7,837 Other Long-Term Liabilities
-- -- -- -- 176,115 114,338 101,739 105,612 112,422 123,170 141,477 154,015 177,615 176,282 184,562 182,080 182,080 Total Liabilities
-- -- -- -- 1,017 15.00 15.00 16.00 14.00 15.00 16.00 15.00 15.00 14.00 14.00 14.00 14.00 Common Stock
-- -- -- -- -- -- 10,391 10,391 10,391 3,109 -- -- -- -- -- Preferred Stock
-- --
-- -- -- -- -70,727 -4,394 266 7,183 10,057 13,816 14,577 20,285 26,168 17,627 22,322 26,860 26,860 Retained Earnings
-- -- -- -- -32,339 1,588 1,251 -5,861 -8,052 -3,113 -8,073 -8,036 -9,330 -8,011 -9,039 -11,156 -11,156 Accumulated other
comprehensive income (loss)
-- -- -- -- 16,489 24,040 24,257 26,391 23,834 28,780 28,937 27,607 26,983 25,371 25,563 26,074 26,074 Additional Paid-In Capital
-- -- -- -- -85,560 21,249 36,180 38,120 36,244 42,607 35,457 39,871 43,836 35,001 38,860 41,792 41,792 Total Equity
-- -- -- -- -0.94 0.16 0.26 0.26 0.24 0.26 0.20 0.21 0.20 0.17 0.17 0.18 0.18 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GM 4/7
Cashflow Statement
-- -- -- -- Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -31,051 105,217 6,503 9,287 6,136 5,331 4,018 9,590 9,269 330 8,075 6,667 6,667 Net Income
-- -- -- -- -- 1,832 210 55.00 117 350 437 806 229 52.00 168 -85.00 -85.00 Net Foreign Currency Exchange
Gain
-- -- -- -- -31,051 105,217 6,503 9,287 6,136 5,331 4,018 9,590 9,269 330 8,075 6,667 6,667 Net Income From Continuing
Operations
-- -- -- -- 10,203 11,384 6,930 7,427 38,762 8,041 7,238 7,487 9,819 12,261 13,669 14,118 14,118 Depreciation, Depletion and
Amortization
-- -- -- -- 1,315 392 -641 -1,572 -460 8.00 -3,248 -836 -3,433 -697 -2,114 100.00 -- Change In Receivables
-- -- -- -- 77.00 3,194 -2,229 -2,760 -326 59.00 -309 -1,209 -75.00 440 399 -761 -- Change In Inventory
-- -- -- -- -287 1,731 304 -195 -255 -- -- -- -- -- -- -- -- Change In Prepaid Assets
-- -- -- -- -1,905 -12,516 2,228 1,052 1,358 138 5,963 889 4,242 -2,603 120 -1,852 -- Change In Payables And Accrued
Expense
-- -- -- -- 94.00 -6,857 -966 -4,122 630 -1,326 247 -1,208 580 -3,015 -1,376 -3,789 -3,789 Change In Working Capital
-- -- -- -- 1,163 -2,027 254 -318 -35,561 1,561 -574 -2,046 2,228 10,880-112 -133 -133 Change In DeferredTax
-- -- -- -- -1,184 -125,226 -5,941 -4,108 638 -977 -868 -1,213 -4,903 -3,118 -5,000 -1,842 -1,842 Cash Flow from Others
-- -- -- -- -12,065 -17,239 6,780 8,166 10,605 12,630 10,061 11,769 16,607 17,328 15,256 15,021 15,021 Cash Flow from Operations
-- -- -- -- -7,530 -5,379 -4,213 -7,086 -9,118 -9,819 -11,867 -21,909 -27,879 -27,633 -25,497 -23,996 -23,996 Purchase Of Property, Plant,
Equipment
-- -- -- -- 347 105 346 47.00 59.00 217 533 1,095 2,554 6,667 10,864 13,302 13,302 Sale Of Property, Plant, Equipment
-- -- -- -- -1.00 -2,127 -3,042 -53.00 -44.00 -2,623 -53.00 -927 -804 -41.00 -83.00 -- -- Purchase Of Business
-- -- -- -- 232 -- 380 4,821 18.00 896 -- -- -- -- -- -- -- Sale Of Business
-- -- -- -- -3,771 -360 -11,370 -27,106 -10,884 -9,968 -9,154 -9,363 -15,444 -5,503 -2,820 -4,075 -4,075 Purchase Of Investment
-- -- -- -- 5,866 394 5,954 16,485 17,786 10,104 8,755 10,221 11,743 9,007 5,108 6,265 6,265 Sale Of Investment
-- -- -- -- -- -- -- -- -- -- -- -1,502 -1,496 -3,500 166 -- -- Cash From Discontinued Investing
Activities
-- -- -- -- 3,093 -11,611 13,178 152 -1,322 -3,169 -3,573 -5,325 -4,317 -6,569 -8,501 -2,395 -2,395 Cash From Other Investing Activities
-- -- -- -- -1,764 -18,978 1,233 -12,740 -3,505 -14,362 -15,359 -27,710 -35,643 -27,572 -20,763 -10,899 -10,899 Cash Flow from Investing
-- -- -- -- -- -- 4,857 11.00 4.00 -- -- -- -- 985 2,862 -- -- Issuance of Stock
-- -- -- -- -- -- -1,462 -- -5,098 -2,438 -3,277 -3,520 -2,500 -4,492 -190 -- -- Repurchase of Stock
-- -- -- -- -- -- -- -- -- -- -- -- -- 985 2,862 457 -- Net Issuance of Preferred Stock
-- -- -- -- 1,828 46,055 -11,422 697 1,412 8,006 12,240 18,017 21,027 18,455 11,664 -2,531 -2,531 Net Issuance of Debt
-- -- -- -- -283 -97.00 -1,572 -916 -939 -1,687 -3,165 -2,242 -2,368 -2,233 -2,242 -2,350 -2,350 Cash Flow for Dividends
-- -- -- -- 2,298 -1,384 -171 -139 -116 -150 -123 1,353 918 -131 -640 -253 204 Other Financing
-- -- -- -- 3,843 44,574 -9,770 -358 -4,741 3,731 5,675 13,608 17,077 12,584 11,454 -4,677 -4,677 Cash Flow from Financing
-- -- -- -- -10,764 9,017 -1,814 -5,185 2,351 1,599 -853 -3,857 -2,172 2,688 5,648 -553 -553 Net Change in Cash
-- -- -- -- -7,530 -5,379 -4,213 -7,086 -9,118 -9,819 -11,867 -21,909 -27,879 -27,633 -25,497 -23,996 -23,996 Capital Expenditure
-- -- -- -- -19,595 -22,618 2,567 1,080 1,487 2,811 -1,806 -10,140 -11,272 -10,305 -10,241 -8,975 -8,975 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GM 5/7
Valuation Ratios
-- -- -- -- Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- 7.77 4.40 9.84 17.47 21.29 5.75 5.81 -- 6.05 8.01 6.87 PE Ratio(TTM)
-- -- -- -- -- -- -- -- -- -- -- 21.12 6.87 -- -- -- -- Price to Owner Earnings (TTM)
-- -- -- -- -- -- 2.14 1.14 1.52 1.55 1.58 1.28 1.19 1.64 1.21 1.23 1.05 Price to Book
-- -- -- -- -- -- -- -- 2.31 1.90 1.92 1.50 1.39 1.97 1.41 1.41 1.21 Price to Tangible Book
-- -- -- -- -- -- 7.07 26.53 32.25 26.13 -- -- -- -- -- -- -- Price-to-Free-Cash-Flow Ratio
-- -- -- -- -- -- 3.98 4.11 4.55 5.40 5.85 4.73 3.29 3.51 3.14 3.51 3.00 Price-to-Operating-Cash-Flow
Ratio
-- -- -- -- -- -- 0.28 0.23 0.32 0.43 0.38 0.41 0.36 0.42 0.33 0.38 0.33 PS Ratio
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.12 0.28 0.39 PEG Ratio
-- -- -- -- -- -- 0.37 0.16 0.26 0.46 0.48 0.67 0.67 0.89 0.88 0.99 0.94 EV-to-Revenue
-- -- -- -- -- -- 7.43 2.43 -1.39 9.26 16.11 5.60 4.63 5.22 5.63 6.11 5.84 EV-to-EBITDA
-- -- -- -- -- -- 7.43 2.43 -1.39 9.26 16.11 10.37 8.27 10.37 14.00 16.61 15.84 EV-to-EBIT
-- -- -- -- -- -- 13.46 41.15 -71.94 10.80 6.21 9.64 12.09 9.64 7.14 6.02 6.31 Return on Capital %
-- -- -- -- -- -- -- -- -- -- -35.81 -2.88 -- -- 4.06 2.37 -1.16 Forward Rate of Return
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 1.41 9.45 8.12 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- 3.44 4.06 4.36 3.71 4.54 4.15 4.83 Dividend Yield %
Valuation and Quality
-- -- -- -- Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- 55,295 31,717 39,392 61,305 55,856 51,015 52,260 57,386 46,830 51,240 44,899 Market Cap
-- -- -- -- -- -- 50,807 23,615 39,179 72,171 74,912 91,177 103,207 128,979 128,888 136,496 130,155 Enterprise Value
-- -- -- -- -- -- 36.86 20.27 28.83 40.87 34.91 34.01 34.84 40.99 33.45 36.60 31.42 Month End Stock Price
-- -- -- -- -280 -99.71 -50.73 -47.46 -62.77 -63.16 -71.17 -87.38 -102 -110 -115 -116 -116 Net Cash (per share)
-- -- -- -- -229 -60.32 -40.03 -33.20 -39.21 -30.23 -36.51 -56.71 -67.77 -77.67 -80.85 -79.47 -79.47 Net Current Asset Value (per
share)
-- -- -- -- -258 -88.15 -49.27 -43.19 -57.07 -49.15 -54.90 -69.60 -86.20 -90.58 -94.08 -94.82 -94.82 Net-Net Working Capital (per
share)
-- -- -- -- -- -- -- -- -- -- 1.32 16.02 4.37 -12.70 -49.17 -67.55 -67.55 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- 26.33 32.82 30.60 36.19 36.58 38.52 35.33 35.33 Median PS (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 140 114 114 Peter Lynch Fair Value (per
share)
-- -- -- -- -- -- -- -- 28.65 33.94 25.96 54.75 58.24 10.15 54.63 51.74 51.74 Graham Number (per share)
-- -- -- -- -- -- -- -- -- -47.77 -2.38 -39.03 -69.85 -101 -135 -170 -170 Earnings Power Value (EPV)
-- -- -- -- -- 3.41 1.52 1.61 0.83 1.64 1.44 1.18 1.17 1.14 1.03 1.00 0.98 Altman Z-Score
-- -- -- -- 9,999 9,999 6.00 7.00 4.00 5.00 4.00 6.00 5.00 3.00 7.00 5.00 5.00 Piotroski F-Score
-- -- -- -- -- -- -- -2.42 -2.34 -2.97 -2.48 -2.81 -2.74 -2.95 -2.41 -2.70 -2.70 Beneish M-Score
-- -- -- -- -0.59 0.16 0.16 0.14 0.18 0.34 0.33 0.45 0.49 0.48 0.57 0.56 0.55 Scaled Net Operating Assets
-- -- -- -- -18.80 103 -1.33 9.52 -0.61 4.26 5.21 13.19 12.84 3.00 5.95 1.14 1.14 Sloan Ratio (%)
-- -- -- -- 0.59 1.13 1.13 1.22 1.30 1.31 1.27 0.97 0.89 0.89 0.92 0.88 0.88 Current Ratio
-- -- -- -- 0.41 0.94 0.87 0.95 1.02 1.08 1.07 0.78 0.76 0.76 0.80 0.76 0.76 Quick Ratio
-- -- -- -- -- -- 36.86 38.98 28.83 41.53 40.95 38.87 37.66 46.48 44.85 40.88 41.90 Highest Stock Price
-- -- -- -- -- -- -- 19.05 18.80 26.33 29.69 27.28 26.90 32.42 30.56 32.25 29.33 Lowest Stock Price
-- -- -- -- -- -59.76 -62.18 -4.31 12.68 -9.78 -6.67 6.25 -- 6.67 -- -- -- Shares Buyback Ratio (%)
-- -- -- -- -- -56.06 -26.16 7.91 0.89 2.02 -0.33 -10.46 14.82 2.69 5.31 -7.19 -7.19 YoY Rev. per Sh. Growth (%)
-- -- -- -- -- 312 -97.45 58.48 -36.24 -18.49 -30.67 258 1.52 -144 309 -17.36 -17.36 YoY EPS Growth (%)
-- -- -- -- -- 549 -93.47 21.26 -38.68 49.90 -25.42 40.89 43.66 16.08 -3.44 -2.89 -2.89 YoY EBITDA Growth (%)
-- -- -- -- -- -- -- -- -- -- -42.30 -7.56 -- -- 49.74 28.30 17.10 EBITDA 5-Y Growth (%)
-- -- -- -- 579 925 1,500 1,536 1,566 1,393 1,605 1,586 1,540 1,465 1,411 1,424 1,430 Shares Outstanding (Basic
Average)
-- -- -- -- 579 925 1,500 1,565 1,366 1,500 1,600 1,500 1,500 1,400 1,400 1,400 1,429 Shares Outstanding (EOP)
-- -- -- -- -- -- -- -- 1.79 1.71 1.06 1.46 1.68 1.66 0.99 1.19 1.17 Beta
-- -- -- -- 11/18/10 11/18/10 03/01/11 02/27/12 02/15/13 02/06/14 02/04/15 02/03/16 02/07/17 02/06/18 02/06/19 02/05/20 Filing Date
-- -- -- -- 11/18/10 03/01/11 02/15/13 02/06/14 02/04/15 02/03/16 02/07/17 02/06/18 02/06/19 02/05/20 02/05/20 02/05/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GM 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GM 7/7
Mid-America Apartment Communities Inc (NYSE:MAA) 03/02/2020 4:10PM EST GuruFocus
Price: $ 135.40 +6.14(+4.75%) Market Cap: $ 15.47 B Enterprise Value: $20.13 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 44.25
Cash to Debt 0.01 Operating margin (%) 26.22
Forward P/E N/A
Equity to Asset 0.54 Net-margin (%) 21.56
PE(NRI) 44.25
Interest Coverage 2.39 ROE (%) 5.75
F-Score:
P/B 2.55
ROA (%) 3.14
8 P/S 9.42
Z-Score: Revenue Growth (3Y)(%) 0.20
2.01 PFCF 19.77
EBITDA Growth (3Y)(%) 2.10
M-Score: POCF 19.77
-2.70 EPS Growth (3Y)(%) 4.50
EV-to-EBIT 36.69
WACC vs 3.35%
ROIC 3.95% PEG 110.50
WACC
ROIC Shiller P/E 52.20
Current Ratio 0.15
Quick Ratio 0.15
Warning Signs Quarterly Revenues Company Description
Mid-America Apartment Communities Inc, or MAA, is a real estate investment trust engaged in the acquisition,
Altman Z-Score: Grey Mar Jun Sep Dec Full Year
operation, and development of multifamily apartment communities primarily located in the southeastern and
2016 269 272 277 307 1,125 southwestern United States. The company's real estate portfolio contains holdings in most of the states in these two
Dividend Payout Ratio: Too regions. Specifically, the states of Texas, Florida, and North Carolina contain a majority of Mid-America Apartment's
2017 379 383 385 383 1,529
high total number of apartment units. The company derives nearly all of its income in the form of rental revenue from
2018 386 390 397 398 1,571 leases. Most of this income comes from its holdings in Texas, Florida, and North Carolina as well. MAA also has partial
Dividend Yield %: Close to 2019 401 407 416 417 1,641 ownership and operation of a number of commercial properties as well.... (Read More)
10-year low 2020 Competitors: NYSE:INVH, NYSE:SUI, NYSE:UDR, NYSE:ELS, NYSE:ESS, NYSE:CPT, NYSE:AMH,
NYSE:AIV, TSX:CAR.UN, NYSE:ACC, TSE:3269, XBRU:AED, XPAR:ALTA, TSE:3282, TSX:BEI.UN, TSX:NVU.UN,
Price: Close to 10-year high Quarterly Earnings per Share TSE:3278, NYSE:AVB, TSX:KMP.UN, TSE:8986
PS Ratio: Close to 10-year Mar Jun Sep Dec Full Year Insider Trades
high 2016 0.58 0.60 1.12 0.44 2.74
2017 0.36 0.42 1.00 1.08 2.86
Insider Sell: Insider Selling
2018 0.42 0.52 0.46 0.53 1.93
2019 0.55 0.53 0.68 1.30 3.06
Good Signs 2020
Piotroski F-Score: High Quarterly Dividends Per Share
PE Ratio: Close to 1-year low Mar Jun Sep Dec Full Year
2016 0.82 0.82 0.82 0.82 3.28
2017 0.87 0.87 0.87 0.87 3.48
DCF 2018 0.92 0.92 0.92 0.92 3.69
GuruFocus does not 2019 0.96 0.96 0.96 0.96 3.84
calculate intrinsic value: DCF 2020
(Earnings Based) for Growth Rate
companies with one star
predictability or not rated. But Annual Rates(per share) 10-Y 5-Y 12-M
you can go to each stock's Revenue Growth (%) 2.20 1.00 4.20
DCF page to calculate EBITDA Growth (%) 5.10 0.40 16.40
yourself.
Free Cash Flow Growth (%) 0.00 4.40 6.20
Book Value Growth (%) 16.50 7.50 -1.50
Reverse DCF
EPS Growth (%) 20.40 -0.10 59.10
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MAA 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.97 13.77 13.76 13.64 13.66 13.35 11.89 10.48 11.08 11.96 13.23 13.87 14.28 13.45 13.80 14.38 14.38 Revenue per Share
7.59 8.13 8.20 7.08 6.98 6.80 5.98 5.26 5.88 5.78 7.64 10.24 8.62 8.72 7.87 9.17 9.17 EBITDA per Share
4.18 4.57 4.76 3.60 3.54 3.33 2.65 2.21 2.80 2.21 3.61 6.32 4.52 4.37 3.56 4.81 4.81 EBIT per Share
0.50 0.25 0.29 1.01 0.64 0.85 0.56 1.31 2.56 2.25 1.97 4.41 2.69 2.86 1.93 3.07 3.06 Earnings per Share (diluted)
0.21 0.27 0.27 0.60 0.60 0.65 0.49 0.73 1.43 0.71 1.90 4.41 2.69 2.86 1.93 3.07 3.06 eps without NRI
0.67 0.61 -0.83 0.10 -0.31 -0.35 -1.85 -1.48 -0.52 0.43 1.29 3.29 1.37 3.76 -- -- 0.87 Owner Earnings per Share (TTM)
-4.96 -1.54 -5.25 -0.57 -2.84 -1.21 -5.92 -6.53 4.91 4.86 5.14 6.17 6.16 5.81 6.45 6.85 6.85 Free Cashflow per Share
2.34 2.35 2.38 2.42 2.46 2.46 2.46 2.51 2.64 2.78 2.92 3.08 3.28 3.48 3.69 3.84 3.84 Dividends per Share
17.13 16.44 17.89 15.63 14.77 14.80 14.87 18.44 21.60 39.38 38.40 39.68 56.41 55.79 54.02 53.20 53.20 Book Value per Share
16.87 16.21 17.69 15.47 14.63 14.66 14.75 18.29 21.47 38.65 38.26 39.58 56.04 55.73 53.99 53.20 53.20 Tangible Book per Share
51.95 51.71 47.68 49.29 46.87 48.10 43.02 42.35 39.56 46.41 46.67 45.45 39.64 39.62 39.78 39.05 39.05 Total Debt per Share
41.22 48.50 57.24 42.75 37.16 48.28 63.49 62.55 64.75 60.74 74.68 90.81 97.92 101 95.70 132 135 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2.93 1.61 1.57 6.04 4.25 5.75 3.80 7.89 12.88 5.97 5.06 11.27 4.50 5.09 3.51 5.72 5.75 Return on Equity %
1.72 1.28 1.26 2.26 1.63 1.90 1.43 2.07 3.98 2.40 2.17 4.86 2.30 2.84 1.95 3.14 3.14 Return on Assets %
6.14 6.65 7.10 5.40 5.38 5.00 4.24 8.36 -- -- -- -- -- -- -- -- -- Return on Capital %
9.36 6.62 7.08 5.47 5.59 5.24 4.58 4.15 5.01 3.35 3.69 4.43 3.55 3.35 3.65 3.95 3.95 Return on Invested Capital %
3.26 5.07 6.32 8.50 6.36 7.95 7.44 6.67 4.72 5.85 4.68 3.47 4.30 3.79 5.57 3.92 3.35 Weighted Average Cost Of Capital (WACC) %
-- -- -- 5.17 4.79 4.19 3.77 3.58 3.49 3.07 3.55 3.53 3.28 3.44 3.84 4.00 3.99 Effective Interest Rate on Debt %
-- -- -- 34.63 58.03 57.81 63.98 65.08 66.21 63.72 63.22 61.58 62.38 62.28 62.16 62.65 62.65 Gross Margin %
32.26 33.18 34.62 26.36 25.92 24.91 23.09 22.48 26.37 24.58 24.61 27.90 28.07 24.51 25.75 26.22 26.22 Operating Margin %
9.41 6.64 6.42 11.50 8.18 9.83 7.83 11.91 22.11 18.14 14.91 31.87 18.86 21.48 14.19 21.56 21.56 Net Margin %
-38.27 -11.18 -38.17 -4.21 -20.76 -9.03 -49.78 -62.30 44.33 40.66 38.84 44.47 43.10 43.22 46.73 47.62 47.62 FCF Margin %
3.03 3.15 2.66 3.15 3.17 3.25 2.89 2.30 1.83 1.18 1.22 1.15 0.70 0.71 0.74 0.73 0.73 Debt to Equity
0.24 0.23 0.26 0.23 0.22 0.22 0.24 0.28 0.33 0.43 0.42 0.44 0.55 0.55 0.54 0.54 0.54 Total Equity to Total Asset
0.71 0.73 0.69 0.71 0.69 0.70 0.69 0.65 0.61 0.51 0.52 0.50 0.39 0.39 0.40 0.40 0.40 Total Debt to Total Asset
18.29 19.24 19.66 6.81 11.59 11.20 11.68 11.33 11.93 8.44 9.18 9.40 7.61 8.25 8.56 9.12 9.12 Gross Profit to Total Asset %
0.18 0.19 0.20 0.20 0.20 0.19 0.18 0.17 0.18 0.13 0.15 0.15 0.12 0.13 0.14 0.15 0.15 Asset Turnover
11.14 8.70 8.82 4.03 4.10 3.79 5.02 3.44 1.85 3.92 1.54 0.70 1.22 1.22 1.91 1.25 1.25 Dividend Payout Ratio
-- -- -- 1.77 2.90 3.89 4.84 5.33 10.41 23.85 8.40 5.40 -- -- -- -- -- Days Accounts Payable
-- -- -- -1.77 -2.90 -3.89 -4.84 -5.33 -10.41 -23.85 -8.40 -5.40 -- -- -- -- -- Cash Conversion Cycle
-- -- -- 0.65 0.42 0.42 0.36 0.35 0.34 0.36 0.37 0.38 0.38 0.38 0.38 0.37 0.37 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MAA 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
268 297 326 347 370 379 380 410 476 635 992 1,043 1,125 1,529 1,571 1,641 1,641 Revenue
-- -- -- 227 155 160 137 143 161 231 365 401 423 577 595 613 613 Cost of Goods Sold
268 297 326 120 215 219 243 267 315 405 627 642 702 952 977 1,028 1,028 Gross Profit
-- -- -- 34.63 58.03 57.81 63.98 65.08 66.21 63.72 63.22 61.58 62.38 62.28 62.16 62.65 62.65 Gross Margin %
9.24 10.35 11.89 28.73 28.64 28.54 30.39 38.10 35.04 38.65 53.00 56.71 63.13 83.78 82.42 101 101 Selling, General, & Admin. Expense
172 188 201 -- 90.17 96.02 125 136 155 210 330 295 323 494 490 497 497 Other Operating Expense
86.38 98.69 113 91.55 95.90 94.28 87.78 92.11 125 156 244 291 316 375 405 430 430 Operating Income
32.26 33.18 34.62 26.36 25.92 24.91 23.09 22.48 26.37 24.58 24.61 27.90 28.07 24.51 25.75 26.22 26.22 Operating Margin %
-- -- -- 0.20 0.51 0.39 0.90 0.80 0.43 0.47 0.77 -0.37 0.72 -- -- -- -- Interest Income
-- -- -- -63.64 -62.01 -57.09 -54.63 -56.38 -57.94 -78.98 -124 -122 -130 -155 -174 -180 -180 Interest Expense
-- -- -- -63.44 -61.50 -56.71 -56.36 -58.48 -61.06 -78.51 -123 -122 -130 -155 -174 -180 -180 Net Interest Income
-86.38 -98.69 -113 -28.10 -34.40 -37.57 -1.45 -3.61 -2.20 -39.47 26.00 184 39.91 122 0.81 118 118 Other Income (Expense)
-2.26 -1.57 -1.59 -3.51 -1.82 -2.01 -1.11 -2.41 -4.60 -4.00 -8.30 -18.46 -12.18 -12.16 -8.12 -12.81 -12.81 Other Income (Minority Interest)
-- -- -- -- -- -- 29.98 30.02 62.23 38.25 147 352 226 342 232 369 369 Pre-Tax Income
-- -- -- -- -- -- -- -0.73 -0.80 -0.89 -2.05 -1.67 -1.70 -2.62 -2.61 -3.70 -3.70 Tax Provision
-- -- -- -- -- -- -- 2.42 1.29 2.33 1.39 0.47 0.75 0.77 1.13 1.00 1.00 Tax Rate %
19.24 20.13 20.34 29.54 30.88 33.34 28.83 28.70 61.20 37.69 151 351 224 341 231 367 367 Net Income (Continuing Operations)
5.95 -0.38 0.61 10.41 1.19 5.88 2.05 22.53 48.62 81.59 5.33 -- -- -- -- -- -- Net Income (Discontinued
Operations)
25.20 19.74 20.95 39.95 30.25 37.21 29.76 48.82 105 115 148 332 212 328 223 354 354 Net Income
9.41 6.64 6.42 11.50 8.18 9.83 7.83 11.91 22.11 18.14 14.91 31.87 18.86 21.48 14.19 21.56 21.56 Net Margin %
14.83 14.33 13.96 13.69 12.87 12.87 6.55 -- -- -- -- -- 0.31 3.69 3.69 3.69 3.69 Preferred dividends
0.51 0.25 0.30 1.01 0.64 0.85 0.57 1.32 2.56 2.27 1.97 4.41 2.69 2.86 1.93 3.07 3.06 EPS (Basic)
0.50 0.25 0.29 1.01 0.64 0.85 0.56 1.31 2.56 2.25 1.97 4.41 2.69 2.86 1.93 3.07 3.06 EPS (Diluted)
20.65 21.61 23.70 25.46 27.08 28.35 31.98 39.09 42.94 53.12 74.98 75.18 78.80 114 114 114 114 Shares Outstanding (Diluted
Average)
70.41 77.06 81.42 88.71 93.18 98.39 107 119 132 190 302 295 323 495 491 498 498 Depreciation, Depletion and
Amortization
157 176 194 180 189 193 191 206 252 307 573 770 679 991 896 1,046 1,046 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MAA 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9.13 14.06 5.55 17.19 9.43 13.82 45.94 57.32 9.08 89.33 26.65 37.56 33.54 10.75 34.26 20.48 20.48 Cash And Cash Equivalents
-- -- 3.72 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
9.13 14.06 9.26 17.19 9.43 13.82 45.94 57.32 9.08 89.33 26.65 37.56 33.54 10.75 34.26 20.48 20.48 Cash, Cash Equivalents, Marketable
Securities
-- -- -- 3.72 0.41 0.56 1.51 1.36 0.81 83.12 28.18 26.08 88.26 83.44 17.41 50.07 50.07 Other Current Assets
9.13 14.06 9.26 20.92 9.84 14.38 47.46 58.68 9.88 172 54.83 63.64 122 94.19 51.67 70.54 70.54 Total Current Assets
-- -- -- 0.17 6.82 8.62 17.51 17.01 4.84 5.50 1.79 1.81 44.49 44.96 44.18 43.67 43.67 Investments And Advances
-- -- -- 217 240 257 290 -- -- -- -- -- -- -- -- -- -- Land And Improvements
-- -- -- 2,044 2,198 2,365 2,565 -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
-- -- -- 55.60 65.54 73.98 83.25 -- -- -- -- -- -- -- -- -- -- Machinery, Furniture, Equipment
-- -- -- 12.89 25.27 10.52 11.50 -- -- -- -- -- -- -- -- -- -- Construction In Progress
1,860 1,984 2,213 2,337 2,537 2,715 2,958 -- -- -- -- -- -- -- -- -- -- Gross Property, Plant and Equipment
-400 -473 -544 -616 -694 -788 -890 -- -- -- -- -- -- -- -- -- -- Accumulated Depreciation
1,460 1,510 1,670 1,720 1,843 1,927 2,068 -- -- -- -- -- -- -- -- -- -- Property, Plant and Equipment
5.40 5.05 5.05 4.11 4.11 4.11 4.11 5.91 5.71 54.41 10.62 7.71 42.40 7.10 3.90 -- -- Intangible Assets
5.40 5.05 5.05 4.11 4.11 4.11 4.11 4.11 4.11 4.11 2.32 1.61 -- -- -- -- -- Goodwill
47.82 41.05 62.79 38.25 57.98 33.12 38.85 2,449 2,731 6,610 6,755 6,775 11,396 11,346 11,224 11,116 11,116 Other Long Term Assets
1,522 1,570 1,747 1,784 1,922 1,987 2,176 2,530 2,751 6,842 6,822 6,848 11,604 11,492 11,324 11,230 11,230 Total Assets
0.77 3.28 2.77 1.10 1.23 1.70 1.82 2.09 4.59 15.07 8.40 5.92 -- -- -- -- -- Accounts Payable
0.77 3.28 2.77 62.31 68.22 71.23 75.81 93.81 99.31 221 227 232 453 406 414 472 472 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
0.77 3.28 2.77 62.31 68.22 71.23 75.81 93.81 99.31 221 227 232 453 406 414 472 472 Total Current Liabilities
1,083 1,140 1,196 1,265 1,323 1,400 1,500 1,650 1,674 3,473 3,513 3,428 4,500 4,502 4,528 4,455 4,455 Long-Term Debt
1,083 1,140 1,196 1,265 1,323 1,400 1,500 1,650 1,674 3,473 3,513 3,428 4,500 4,502 4,528 4,455 4,455 Long-Term Debt & Capital Lease
Obligation
3.03 3.15 2.66 3.15 3.17 3.25 2.89 2.30 1.83 1.18 1.22 1.15 0.70 0.71 0.74 0.73 0.73 Debt to Equity
31.38 29.80 32.60 28.87 25.65 22.66 22.13 25.13 31.06 167 161 166 238 234 222 221 221 Minority Interest
49.37 34.81 65.86 27.07 88.07 62.77 59.41 43.44 32.81 34.34 29.83 30.23 10.07 10.41 9.41 14.13 14.13 Other Long-Term Liabilities
1,134 1,178 1,265 1,354 1,479 1,534 1,635 1,787 1,806 3,728 3,770 3,690 4,962 4,918 4,952 4,941 4,941 Total Liabilities
0.21 0.22 0.25 0.26 0.28 0.29 0.35 0.39 0.42 0.75 0.75 0.75 1.13 1.13 1.14 1.14 1.14 Common Stock
0.07 0.07 0.07 0.06 0.06 0.06 -- -- -- -- -- -- 0.01 0.01 0.01 0.01 0.01 Preferred Stock
-269 -314 -378 -415 -465 -511 -575 -622 -603 -654 -729 -634 -707 -785 -989 -1,085 -1,085 Retained Earnings
-14.74 7.13 10.90 -16.91 -72.89 -47.44 -48.85 -35.85 -26.05 0.11 -0.41 -1.59 1.14 2.16 -0.21 -13.18 -13.18 Accumulated other comprehensive
income (loss)
645 672 816 833 954 989 1,142 1,376 1,543 3,600 3,619 3,627 7,109 7,121 7,138 7,166 7,166 Additional Paid-In Capital
357 363 449 401 417 431 519 718 914 2,947 2,891 2,992 6,404 6,340 6,150 6,069 6,069 Total Equity
0.24 0.23 0.26 0.23 0.22 0.22 0.24 0.28 0.33 0.43 0.42 0.44 0.55 0.55 0.54 0.54 0.54 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MAA 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
25.20 19.86 20.95 30.78 32.07 39.22 30.88 38.43 68.19 42.44 151 351 224 341 231 367 367 Net Income
25.20 19.86 20.95 30.78 32.07 39.22 30.88 38.43 68.19 42.44 151 351 224 341 231 367 367 Net Income From Continuing
Operations
70.41 77.06 81.42 88.71 93.18 98.39 107 119 132 190 302 295 323 495 491 498 498 Depreciation, Depletion and
Amortization
3.91 -3.50 -4.94 2.98 -- -- -- -- -- -- -- -- -- -- -- -- -- Change In Receivables
-0.66 9.41 0.93 -0.40 2.80 4.33 -0.54 8.86 7.11 -28.78 4.20 3.73 10.23 -- -- -- -- Change In Payables And Accrued
Expense
4.07 6.52 -2.69 3.28 12.14 4.31 -9.12 7.27 6.63 18.55 -1.25 17.58 18.22 -47.63 9.31 -9.39 -9.39 Change In Working Capital
-- -- -- 0.76 1.03 1.33 3.01 5.52 2.23 2.27 4.23 6.15 11.49 10.57 12.44 13.65 13.65 Stock Based Compensation
-11.44 -3.75 1.64 -4.96 1.37 -2.97 0.42 1.73 1.73 5.45 -70.23 -206 -92.39 -137 -9.48 -87.25 -87.25 Cash Flow from Others
88.23 99.69 101 119 140 140 134 172 211 258 385 464 485 661 734 781 781 Cash Flow from Operations
-191 -133 -226 -99.92 -217 -174 -323 -375 -- -- -- -- -- -- -- -- -- Purchase Of Property, Plant,
Equipment
15.68 9.69 2.06 29.34 1.97 29.93 90.34 23.66 -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -0.24 -7.57 -2.73 -12.13 -1.51 -0.22 -0.27 -- -0.03 -424 -1.50 -2.91 -5.39 -5.39 Purchase Of Business
-- -- -- 9.86 0.00 0.12 -- -- -- 63.45 -- -- -- -- -- -- -- Sale Of Business
6.66 14.90 -16.65 -47.82 -22.70 -6.81 -9.46 -88.89 -329 -147 -- -136 -225 -293 -363 -233 -180 Cash From Other Investing Activities
-168 -108 -240 -109 -245 -154 -254 -442 -329 -83.79 -204 -136 -649 -294 -366 -238 -238 Cash Flow from Investing
25.41 39.46 152 26.45 126 33.75 306 236 196 25.68 1.04 0.62 0.29 1.56 0.59 -- -- Issuance of Stock
-0.05 -- -- -0.12 -0.68 -0.96 -1.18 -2.55 -1.99 -0.70 -0.47 -0.96 -2.02 -4.78 -2.92 -- -- Repurchase of Stock
-- -- -- -11.87 -- -- -155 -- -- -- -- -- -- -- -- -- -- Net Issuance of Preferred Stock
124 44.92 53.62 70.31 -46.21 -44.76 101 150 -8.01 28.66 -20.68 -64.02 489 23.92 41.02 -68.33 -68.33 Net Issuance of Debt
-68.70 -6.17 -5.90 -81.26 -78.67 -82.37 -84.76 -92.03 -108 -141 -219 -232 -249 -399 -424 -441 -441 Cash Flow for Dividends
-- -64.61 -69.50 -1.65 96.91 112 -12.93 -9.84 -8.56 -7.27 -5.04 -20.17 -16.38 -21.24 -20.28 -14.52 -14.52 Other Financing
80.49 13.60 131 1.86 97.35 18.07 153 281 70.01 -94.33 -244 -317 222 -400 -405 -524 -524 Cash Flow from Financing
0.34 4.93 -8.52 11.65 -7.77 4.39 32.12 11.38 -48.24 80.26 -62.68 10.91 58.16 -32.93 -37.19 18.87 18.87 Net Change in Cash
-191 -133 -226 -133 -217 -174 -323 -428 -- -- -- -- -- -- -- -- -- Capital Expenditure
-102 -33.26 -124 -14.61 -76.82 -34.18 -189 -255 211 258 385 464 485 661 734 781 781 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MAA 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
82.44 194 197 42.75 58.06 56.14 113 47.75 25.39 21.80 37.91 20.59 35.74 35.16 49.59 43.09 44.25 PE Ratio(TTM)
61.61 79.64 -- 428 -- -- -- -- -- 143 57.76 27.58 71.74 26.74 -- -- 156 Price to Owner Earnings
(TTM)
2.41 2.95 3.20 2.74 2.52 3.26 4.27 3.39 3.00 1.54 1.94 2.29 1.74 1.80 1.77 2.48 2.55 Price to Book
2.44 2.99 3.24 2.76 2.54 3.29 4.30 3.42 3.02 1.57 1.95 2.29 1.75 1.80 1.77 2.48 2.55 Price to Tangible Book
-- -- -- -- -- -- -- -- 13.03 12.03 14.53 14.72 15.66 17.42 14.83 19.26 19.77 Price-to-Free-Cash-Flow
Ratio
9.60 10.52 13.34 9.18 7.20 9.77 15.13 14.21 13.03 12.03 14.53 14.72 15.66 17.42 14.83 19.26 19.77 Price-to-Operating-Cash-
Flow Ratio
3.17 3.52 4.16 3.10 2.72 3.62 5.30 5.88 5.71 4.99 5.65 6.55 6.83 7.54 6.93 9.17 9.42 PS Ratio
-- -- -- -- -- -- -- -- -- -- 22.44 1.60 2.44 3.65 11.07 -- 111 PEG Ratio
7.34 7.46 8.15 6.76 6.45 7.43 9.70 9.76 9.21 12.74 9.35 9.98 14.06 10.56 9.93 12.00 12.27 EV-to-Revenue
12.54 11.92 14.55 12.59 12.63 14.60 19.57 19.94 17.44 26.18 16.10 13.52 23.30 16.30 17.42 18.82 19.24 EV-to-EBITDA
22.75 20.32 26.26 23.84 24.90 29.84 45.09 48.26 36.32 69.06 34.27 21.91 44.46 32.53 38.51 35.91 36.69 EV-to-EBIT
4.40 4.92 3.81 4.19 4.02 3.35 2.22 2.07 2.75 1.45 2.92 4.56 2.25 3.07 2.60 2.78 2.73 Return on Capital %
-5.49 -15.48 -24.83 -24.12 -18.26 -9.45 -10.63 -12.88 -9.95 -4.57 1.76 15.69 19.66 15.23 10.63 2.88 2.76 Forward Rate of Return
55.76 -- 101 69.77 65.39 88.13 124 110 75.96 52.24 57.49 53.86 50.02 46.08 40.84 50.84 52.20 Shiller PE Ratio
5.68 4.85 4.16 5.66 6.62 5.10 3.87 4.02 4.08 4.58 3.91 3.39 3.35 3.46 3.86 2.91 2.87 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
860 1,069 1,436 1,097 1,049 1,405 2,214 2,437 2,740 4,545 5,621 6,848 11,116 11,428 10,895 15,041 15,472 Market Cap
1,966 2,225 2,656 2,373 2,388 2,813 3,690 4,054 4,436 8,095 9,268 10,404 15,820 16,153 15,611 19,696 20,127 Enterprise Value
41.22 48.50 57.24 42.75 37.16 48.28 63.49 62.55 64.75 60.74 74.68 90.81 97.92 101 95.70 132 135 Month End Stock Price
-55.42 -54.15 -51.34 -53.23 -52.98 -53.01 -46.22 -45.04 -43.20 -50.86 -51.88 -50.63 -45.52 -45.24 -45.15 -45.07 -45.07 Net Cash (per share)
-55.42 -54.15 -51.34 -53.09 -52.97 -53.00 -46.17 -45.01 -43.18 -49.75 -51.50 -50.29 -44.74 -44.51 -44.99 -44.64 -44.64 Net Current Asset Value
(per share)
-55.42 -54.15 -51.34 -53.24 -52.99 -53.02 -46.22 -45.04 -43.20 -50.86 -51.88 -50.63 -45.52 -45.24 -45.15 -45.07 -45.07 Net-Net Working Capital (per
share)
8.11 2.62 -1.94 -7.68 -11.65 -9.29 -9.71 -13.12 3.66 27.96 38.73 53.27 94.24 83.47 84.83 91.21 91.21 Projected FCF (per share)
30.36 32.15 32.07 32.12 34.52 37.60 37.49 36.99 42.04 48.19 55.83 69.19 78.75 76.25 81.82 88.87 88.87 Median PS (per share)
3.10 4.35 1.73 5.47 8.24 -- -- -- -- -- -- 56.67 40.17 27.54 -- -- -- Peter Lynch Fair Value (per
share)
8.93 9.92 10.37 14.45 14.05 14.64 12.75 17.33 26.28 24.85 40.44 62.67 58.24 59.88 48.42 60.62 60.52 Graham Number (per share)
8.35 0.43 -25.81 -51.56 -62.71 -64.88 -70.71 -76.32 -78.04 -66.18 -75.94 -75.36 -75.15 -44.64 -- -- -81.37 Earnings Power Value
(EPV)
0.39 0.46 0.57 0.42 0.35 0.44 0.71 0.72 0.89 0.74 0.99 1.34 1.42 1.54 1.42 1.96 2.01 Altman Z-Score
6.00 5.00 6.00 5.00 6.00 6.00 5.00 6.00 6.00 6.00 5.00 7.00 5.00 4.00 4.00 8.00 8.00 Piotroski F-Score
-- -2.71 -2.48 -2.28 -2.51 -2.96 -2.67 11.05 -2.46 -2.17 -2.13 -2.63 -2.48 -2.34 -2.66 -2.70 -2.70 Beneish M-Score
1.04 1.00 1.06 0.96 0.99 0.96 1.00 1.07 1.03 2.36 0.96 0.96 1.62 0.95 0.95 0.95 0.95 Scaled Net Operating
Assets
6.92 1.81 9.16 1.69 7.04 2.56 6.90 12.59 8.12 -0.87 -0.49 0.07 3.24 -0.33 -1.28 -1.69 -1.69 Sloan Ratio (%)
11.91 4.29 3.34 0.34 0.14 0.20 0.63 0.63 0.10 0.78 0.24 0.27 0.27 0.23 0.12 0.15 0.15 Current Ratio
11.91 4.29 3.34 0.34 0.14 0.20 0.63 0.63 0.10 0.78 0.24 0.27 0.27 0.23 0.12 0.15 0.15 Quick Ratio
41.70 49.96 65.81 60.48 59.60 49.61 64.23 73.25 70.20 74.41 76.24 92.40 110 110 104 139 149 Highest Stock Price
31.60 36.17 48.50 42.75 24.04 22.99 45.58 55.35 58.49 59.70 60.74 71.15 84.64 93.78 85.39 92.65 102 Lowest Stock Price
-4.12 -5.71 -13.81 -2.24 -10.02 -3.08 -19.85 -11.72 -8.62 -76.84 -0.58 -0.19 -50.54 -0.11 -0.18 -0.20 -0.20 Shares Buyback Ratio (%)
2.37 6.18 -0.08 -0.83 0.15 -2.26 -10.97 -11.81 5.71 7.95 10.62 4.81 2.96 -5.83 2.64 4.18 4.14 YoY Rev. per Sh. Growth
(%)
814 -50.00 16.00 248 -36.63 32.81 -34.12 134 95.42 -12.11 -12.44 124 -39.00 6.32 -32.52 59.07 58.55 YoY EPS Growth (%)
-41.10 7.14 0.79 -13.64 -1.40 -2.64 -11.99 -12.02 11.67 -1.68 32.21 34.02 -15.82 1.16 -9.68 16.45 16.37 YoY EBITDA Growth (%)
-4.31 -13.13 -20.29 -16.91 -9.62 -3.64 -6.16 -7.62 -6.84 -3.72 1.77 12.85 14.66 9.63 4.48 -1.84 0.40 EBITDA 5-Y Growth (%)
20.32 21.41 23.47 25.30 26.94 28.34 31.86 37.00 41.04 50.68 74.98 75.18 78.50 113 114 114 114 Shares Outstanding (Basic
Average)
20.86 22.05 25.09 25.65 28.23 29.10 34.87 38.96 42.32 74.83 75.27 75.41 114 114 114 114 114 Shares Outstanding (EOP)
0.36 0.96 1.11 1.56 0.97 1.25 1.06 1.09 0.59 0.59 0.45 0.20 0.35 0.24 0.60 0.33 0.34 Beta
03/15/05 03/01/06 02/28/07 02/27/08 02/25/09 02/25/10 02/24/11 02/24/12 02/22/13 02/21/14 02/25/15 02/26/16 02/24/17 02/23/18 02/21/19 02/20/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MAA 6/7
03/15/05 03/01/06 02/28/07 02/25/09 02/24/11 02/24/11 02/22/13 02/21/14 02/25/15 02/26/16 02/24/17 02/23/18 02/21/19 02/20/20 02/20/20 02/20/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MAA 7/7
Snap-On Inc (NYSE:SNA) 03/02/2020 4:10PM EST GuruFocus
Price: $ 148.71 +3.96(+2.74%) Market Cap: $ 8.13 B Enterprise Value: $9.17 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 11.97
Cash to Debt 0.15 Operating margin (%) 23.66
Forward P/E N/A
Equity to Asset 0.60 Net-margin (%) 17.05
PE(NRI) 11.97
Interest Coverage 19.64 ROE (%) 21.28
F-Score:
P/B 2.39
ROA (%) 12.52
5 P/S 2.04
Z-Score: ROC (Joel Greenblatt) (%) 50.32
4.91 PFCF 14.45
Revenue Growth (3Y)(%) 5.20
WACC vs 8.26% POCF 12.32
ROIC 17.30% EBITDA Growth (3Y)(%) 6.40
WACC EV-to-EBIT 9.45
EPS Growth (3Y)(%) 10.50
ROIC
PEG 1.48
Shiller P/E 18.03
Current Ratio 2.51
Quick Ratio 1.71
Days Inventory 133.63
Days Sales Outstanding 118.93
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Snap-on is a manufacturer of premium tools and software for professional technicians. Hand tools are sold through
Long-Term Debt: Issuing new
franchisee-operated mobile vans that serve auto technicians who purchase tools at their own expense. A unique
debt 2016 901 942 906 964 3,712 element of its business model is that franchisees bear significant risk, as they must invest as much as $375,000 in the
2017 964 999 983 1,055 4,000 van, inventory, and software. At the same time, franchisees extend personal credit directly to technicians on an
Insider Sell: Insider Selling individual tool basis. Snap-on currently operates three segments—repair systems and information, commercial and
2018 1,019 1,037 980 1,035 4,070 industrial, and tools—which accounted for 31%, 38%, and 31%, respectively, of its $3.7 billion 2018 manufacturing
2019 1,007 1,035 986 1,039 4,068 revenue. Its financing arm generates 8% of consolidated revenue and 24% of operating income.... (Read More)
Good Signs 2020 Competitors: OSTO:SKF A, NYSE:TTC, TSE:6586 , TSE:9962 , TSE:3064 , NAS:LECO, NAS:ROLL ,
OSTO:HUSQ A, NYSE:TKR, XTER:GIL, XSWX:SFSN, TPE:2049, NYSE:KMT, SZSE:002791, SZSE:002444,
Revenue per Share: Quarterly Earnings per Share TSE:6141, TSE:6136, TSE:6472, HKSE:00669, NYSE:GFF
Consistent growth Mar Jun Sep Dec Full Year Insider Trades
Operating Margin %: 2016 2.16 2.36 2.22 2.47 9.21
Expansion 2017 2.39 2.60 2.29 2.24 9.52
2018 2.82 3.12 2.85 3.09 11.88
Dividend Yield %: Close to 2019 3.16 3.22 2.96 3.08 12.42
10-year high 2020
PE Ratio: Close to 5-year low Quarterly Dividends Per Share
PB Ratio: Close to 5-year low Mar Jun Sep Dec Full Year
PS Ratio: Close to 5-year low 2016 0.61 0.61 0.61 0.71 2.54
2017 0.71 0.71 0.71 0.82 2.95
2018 0.82 0.82 0.82 0.95 3.41
DCF 2019 0.95 0.95 0.95 1.08 3.93
EPS without NRI: $12.42 2020
Growth Rate in the next 10 Growth Rate
years: 16.90%
Terminal Growth Rate for 10 Annual Rates(per share) 10-Y 5-Y 12-M
years: 4% Revenue Growth (%) 5.60 4.70 2.40
Fair Value: $288.05 EBITDA Growth (%) 12.40 8.10 3.40
Free Cash Flow Growth (%) 19.60 14.40 -12.50
Reverse DCF Book Value Growth (%) 11.00 10.50 11.50
Expected eps Growth Rate: EPS Growth (%) 16.90 11.90 4.50
6.76%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNA 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
41.29 39.06 41.47 48.49 49.11 40.80 45.92 50.74 52.62 54.78 59.10 60.80 62.49 68.27 71.04 72.77 72.79 Revenue per Share
3.49 3.69 3.63 6.93 7.98 5.66 6.93 9.35 10.06 11.15 12.92 14.30 15.81 16.51 18.40 19.03 19.03 EBITDA per Share
2.44 2.80 2.75 5.64 6.74 4.37 5.69 8.08 8.76 9.85 11.57 12.90 14.37 14.92 16.76 17.37 17.37 EBIT per Share
1.40 1.59 1.69 3.09 4.07 2.32 3.19 4.71 5.20 5.93 7.14 8.10 9.20 9.52 11.87 12.41 12.42 Earnings per Share (diluted)
1.40 1.51 1.65 3.23 4.07 2.32 3.19 4.71 5.20 5.93 7.14 8.10 9.20 9.52 11.87 12.41 12.42 eps without NRI
1.91 2.95 2.75 3.08 2.79 4.85 0.61 0.40 3.51 4.50 4.50 6.15 6.93 7.22 10.06 8.79 8.79 Owner Earnings per Share (TTM)
1.85 3.10 2.58 2.89 2.52 4.88 1.53 1.15 4.24 5.45 5.46 7.22 8.45 8.99 11.76 10.29 10.29 Free Cashflow per Share
1.00 1.00 1.08 1.11 1.20 1.20 1.22 1.30 1.40 1.58 1.85 2.20 2.54 2.95 3.41 3.93 3.93 Dividends per Share
19.23 16.60 18.37 22.29 20.65 22.34 23.87 26.29 30.94 36.36 37.99 41.54 45.16 52.11 55.72 62.16 62.16 Book Value per Share
10.38 8.63 0.72 3.94 2.90 4.67 6.83 9.39 13.86 18.65 20.54 24.58 26.53 31.33 35.31 41.05 41.05 Tangible Book per Share
5.73 3.91 9.38 9.02 8.97 18.47 20.12 16.90 16.75 16.73 15.82 15.15 17.43 20.94 20.36 22.00 22.00 Total Debt per Share
34.36 37.56 47.64 48.24 39.38 42.26 56.58 50.62 78.99 110 137 171 171 174 145 169 149 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
7.70 8.96 9.82 15.38 19.19 10.84 13.93 18.93 18.37 17.89 19.53 20.72 21.73 20.02 22.47 21.31 21.28 Return on Equity %
3.69 4.32 4.29 6.69 8.65 4.36 5.20 7.47 8.08 8.74 10.02 11.08 12.07 11.18 12.80 12.53 12.52 Return on Assets %
17.39 21.41 22.85 44.50 51.08 37.44 55.12 54.44 43.43 44.54 48.21 52.12 56.88 53.07 53.99 50.40 50.32 Return on Capital %
7.60 8.75 8.69 12.49 14.25 9.89 12.34 14.22 14.22 14.66 15.88 16.91 17.64 16.05 17.88 17.31 17.30 Return on Invested Capital %
10.86 11.75 10.27 7.98 9.16 11.22 10.59 9.86 8.66 10.08 7.68 8.69 9.58 8.25 9.87 9.17 8.26 Weighted Average Cost Of Capital (WACC) %
-- -- -- 8.64 6.54 6.03 4.90 5.68 5.69 5.76 5.59 5.77 5.52 4.77 4.35 4.19 4.20 Effective Interest Rate on Debt %
43.34 44.33 43.98 44.58 45.02 44.77 45.70 47.37 48.29 49.38 49.63 50.61 51.43 51.08 51.59 51.38 51.38 Gross Margin %
5.91 7.16 6.63 10.64 12.32 9.87 12.36 15.35 16.66 18.11 19.60 21.29 23.20 22.05 23.49 23.66 23.66 Operating Margin %
3.39 4.07 4.08 6.38 8.30 5.68 6.96 9.28 9.88 10.82 12.08 13.32 14.72 13.94 16.70 17.05 17.05 Net Margin %
4.49 7.94 6.23 5.96 5.13 11.97 3.33 2.26 8.06 9.95 9.23 11.88 13.52 13.16 16.55 14.14 14.14 FCF Margin %
0.30 0.24 0.51 0.41 0.43 0.83 0.84 0.64 0.54 0.46 0.42 0.37 0.39 0.40 0.37 0.35 0.35 Debt to Equity
0.49 0.48 0.41 0.46 0.44 0.37 0.37 0.42 0.46 0.51 0.51 0.56 0.55 0.56 0.58 0.60 0.60 Total Equity to Total Asset
0.15 0.11 0.21 0.19 0.19 0.31 0.31 0.27 0.25 0.24 0.21 0.20 0.21 0.23 0.21 0.21 0.21 Total Debt to Total Asset
47.12 47.05 46.31 46.74 46.92 34.35 34.15 38.12 39.52 39.90 41.17 42.09 42.17 40.98 39.54 37.77 37.72 Gross Profit to Total Asset %
1.09 1.06 1.05 1.05 1.04 0.77 0.75 0.81 0.82 0.81 0.83 0.83 0.82 0.80 0.77 0.74 0.73 Asset Turnover
0.71 0.66 0.66 0.34 0.30 0.52 0.38 0.28 0.27 0.27 0.26 0.27 0.28 0.31 0.29 0.32 0.32 Dividend Payout Ratio
82.18 77.75 83.14 75.40 59.13 64.02 60.34 96.86 104 110 107 111 114 117 117 119 119 Days Sales Outstanding
52.16 38.92 47.45 39.78 29.32 56.31 63.65 29.01 32.46 34.65 30.08 30.50 34.60 33.24 37.25 36.63 36.63 Days Accounts Payable
92.74 89.84 80.44 74.80 79.30 88.66 75.72 83.33 90.04 93.38 94.39 100 104 109 122 132 134 Days Inventory
123 129 116 110 109 96.37 72.41 151 162 169 172 181 184 192 202 215 216 Cash Conversion Cycle
3.94 4.06 4.54 4.88 4.60 4.12 4.82 4.38 4.05 3.91 3.87 3.65 3.51 3.35 3.00 2.76 2.73 Inventory Turnover
0.57 0.56 0.56 0.55 0.55 0.55 0.54 0.53 0.52 0.51 0.50 0.49 0.49 0.49 0.48 0.49 0.49 COGS to Revenue
0.14 0.14 0.12 0.11 0.12 0.13 0.11 0.12 0.13 0.13 0.13 0.14 0.14 0.15 0.16 0.18 0.18 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNA 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,407 2,281 2,455 2,841 2,853 2,363 2,682 2,979 3,099 3,238 3,493 3,593 3,712 4,000 4,070 4,068 4,068 Revenue
1,364 1,270 1,375 1,575 1,569 1,305 1,456 1,568 1,603 1,639 1,759 1,775 1,803 1,957 1,970 1,978 1,978 Cost of Goods Sold
1,043 1,011 1,080 1,267 1,285 1,058 1,226 1,411 1,497 1,599 1,733 1,819 1,909 2,043 2,100 2,090 2,090 Gross Profit
43.34 44.33 43.98 44.58 45.02 44.77 45.70 47.37 48.29 49.38 49.63 50.61 51.43 51.08 51.59 51.38 51.38 Gross Margin %
901 864 930 964 933 824 894 954 -- -- -- -- -- -- -- -- -- Selling, General, & Admin. Expense
0.00 -15.70 -13.00 -0.00 -0.00 -0.00 -- -0.00 980 1,012 1,049 1,054 1,048 1,161 1,144 1,128 1,128 Other Operating Expense
142 163 163 302 352 233 331 457 516 586 685 765 861 882 956 962 962 Operating Income
5.91 7.16 6.63 10.64 12.32 9.87 12.36 15.35 16.66 18.11 19.60 21.29 23.20 22.05 23.49 23.66 23.66 Operating Margin %
-- -- -- 9.10 6.60 1.70 1.30 1.40 0.60 0.50 0.50 0.50 0.60 0.30 0.60 1.50 1.50 Interest Income
-- -- -- -46.10 -33.80 -47.70 -54.80 -61.20 -55.80 -56.10 -52.90 -51.90 -52.20 -52.40 -50.40 -49.00 -49.00 Interest Expense
-- -- -- -37.00 -27.20 -46.00 -53.50 -59.80 -55.20 -55.60 -52.40 -51.40 -51.60 -52.10 -49.80 -47.50 -47.50 Net Interest Income
-21.90 -18.60 -15.30 18.80 33.50 18.10 -0.50 15.60 -1.00 -4.40 -1.40 -2.90 -8.10 -8.10 3.60 7.30 7.30 Other Income (Expense)
-- -1.40 -3.70 -4.90 -6.90 -9.50 -6.50 -7.50 -8.50 -9.40 -10.20 -11.90 -13.20 -14.50 -16.30 -17.70 -17.70 Other Income (Minority Interest)
120 145 148 284 358 205 277 413 460 526 631 711 801 822 910 922 922 Pre-Tax Income
-38.70 -55.20 -45.90 -92.50 -118 -62.70 -87.60 -134 -148 -167 -200 -221 -244 -251 -214 -212 -212 Tax Provision
32.14 38.12 31.12 32.55 32.92 30.54 31.58 32.38 32.20 31.68 31.62 31.13 30.48 30.53 23.56 22.97 22.97 Tax Rate %
81.70 88.20 97.90 189 244 144 193 284 315 360 432 491 560 572 696 711 711 Net Income (Continuing Operations)
-- 4.70 2.20 -8.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
81.70 92.90 100 181 237 134 187 276 306 350 422 479 546 558 680 694 694 Net Income
3.39 4.07 4.08 6.38 8.30 5.68 6.96 9.28 9.88 10.82 12.08 13.32 14.72 13.94 16.70 17.05 17.05 Net Margin %
1.41 1.61 1.72 3.13 4.12 2.33 3.22 4.75 5.26 6.02 7.26 8.24 9.40 9.72 12.08 12.59 12.59 EPS (Basic)
1.40 1.59 1.69 3.09 4.07 2.32 3.19 4.71 5.20 5.93 7.14 8.10 9.20 9.52 11.87 12.41 12.42 EPS (Diluted)
58.30 58.40 59.20 58.60 58.10 57.90 58.40 58.70 58.90 59.10 59.10 59.10 59.40 58.60 57.30 55.90 55.60 Shares Outstanding (Diluted
Average)
61.00 52.20 51.90 75.70 72.00 74.60 72.70 74.60 76.70 76.70 79.50 82.50 85.60 93.20 94.10 92.40 92.40 Depreciation, Depletion and
Amortization
203 216 215 406 464 328 405 549 593 659 763 845 939 968 1,054 1,064 1,064 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNA 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
150 170 63.40 93.00 116 699 572 186 215 218 133 92.80 77.60 92.00 141 185 185 Cash And Cash Equivalents
150 170 63.40 93.00 116 699 572 186 215 218 133 92.80 77.60 92.00 141 185 185 Cash, Cash Equivalents, Marketable
Securities
542 486 559 587 462 414 443 790 884 975 1,028 1,092 1,159 1,278 1,309 1,325 1,325 Accounts Receivable
69.60 62.70 64.10 64.00 69.80 60.50 64.10 80.50 83.80 87.30 87.50 90.30 93.60 123 124 127 127 Inventories, Raw Materials &
Components
40.00 33.60 35.20 33.60 30.50 28.30 25.00 32.20 38.60 45.00 45.30 42.90 42.70 49.30 51.70 57.10 57.10 Inventories, Work In Process
-76.30 -82.10 -86.70 -75.00 -83.30 -68.40 -68.40 -70.10 -71.80 -72.60 -72.60 -73.30 -73.20 -75.10 -78.40 -84.50 -84.50 Inventories, Inventories
Adjustments
309 269 310 300 342 254 309 344 354 375 415 438 467 542 577 661 661 Inventories, Finished Goods
-0.00 -0.00 -- -- -- -0.00 -- -- -- -- -- 0.00 -- -- -0.00 -- -- Inventories, Other
342 283 323 322 359 275 329 386 404 434 476 498 531 639 674 760 760 Total Inventories
159 133 168 185 144 132 160 168 167 170 223 106 117 111 92.80 110 110 Other Current Assets
1,193 1,073 1,113 1,187 1,141 1,676 1,766 1,531 1,669 1,796 1,859 1,789 1,884 2,119 2,217 2,381 2,381 Total Current Assets
25.70 23.40 24.30 22.90 20.70 22.90 20.50 19.80 19.40 19.60 18.30 19.70 19.10 24.50 31.70 31.90 31.90 Land And Improvements
223 229 237 224 228 250 262 275 286 292 294 298 309 357 369 405 405 Buildings And Improvements
579 556 541 545 556 622 621 632 685 725 751 780 810 889 944 988 988 Machinery, Furniture, Equipment
828 809 802 792 805 895 903 927 990 1,037 1,063 1,098 1,138 1,271 1,345 1,481 1,481 Gross Property, Plant and Equipment
-514 -513 -505 -487 -477 -547 -559 -574 -615 -645 -659 -684 -713 -787 -850 -904 -904 Accumulated Depreciation
314 296 297 305 328 348 344 353 375 393 405 414 425 484 495 577 577 Property, Plant and Equipment
511 462 1,034 1,054 1,020 1,021 991 984 995 1,029 1,014 985 1,080 1,178 1,135 1,158 1,158 Intangible Assets
-- -- 776 819 802 814 798 796 807 839 811 790 896 924 902 914 914 Goodwill
273 178 210 219 222 403 629 805 864 892 1,033 1,144 1,334 1,468 1,526 1,578 1,578 Other Long Term Assets
2,290 2,008 2,655 2,765 2,710 3,447 3,729 3,673 3,902 4,110 4,310 4,331 4,723 5,249 5,373 5,694 5,694 Total Assets
195 135 179 172 126 201 254 125 143 156 145 148 171 178 201 199 199 Accounts Payable
-- -- -- 25.50 -- 12.00 12.50 42.10 52.50 39.00 57.00 68.20 57.50 87.00 74.50 62.50 62.50 Total Tax Payable
451 377 311 451 410 515 606 404 416 421 463 456 489 583 579 548 548 Accounts Payable & Accrued
Expense
128 24.80 43.60 15.90 12.00 165 216 16.20 5.20 113 56.60 18.40 301 433 186 222 222 Current Portion of Long-Term Debt
26.20 26.60 25.30 25.90 -- 19.30 18.60 24.90 24.80 26.60 34.10 40.70 43.00 38.90 47.30 55.10 55.10 Current Deferred Revenue
26.20 26.60 25.30 25.90 -- 19.30 18.60 24.90 24.80 26.60 34.10 40.70 43.00 38.90 47.30 55.10 55.10 DeferredTaxAndRevenue
68.80 77.50 303 147 125 40.50 40.40 138 143 155 165 155 157 138 139 122 122 Other Current Liabilities
674 506 682 639 548 740 881 584 589 715 719 670 990 1,193 952 948 948 Total Current Liabilities
203 202 506 502 503 902 955 968 970 859 863 862 709 754 946 947 947 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 37.50 37.50 Capital Lease Obligation
203 202 506 502 503 902 955 968 970 859 863 862 709 754 946 984 984 Long-Term Debt & Capital Lease
Obligation
0.30 0.24 0.51 0.41 0.43 0.83 0.84 0.64 0.54 0.46 0.42 0.37 0.39 0.40 0.37 0.35 0.35 Debt to Equity
-- -- -- 85.30 209 317 306 371 309 178 260 266 283 195 203 156 156 PensionAndRetirementBenefit
76.50 75.30 88.90 91.20 95.00 97.80 94.40 108 127 144 159 14.30 13.10 28.40 41.40 69.30 69.30 NonCurrent Deferred Liabilities
-- -- -- -- 18.00 15.60 15.90 16.40 16.90 17.20 17.50 18.00 18.00 18.40 19.80 21.70 21.70 Minority Interest
226 263 302 167 151 85.40 89.00 95.30 87.50 84.00 83.80 88.50 93.40 107 112 106 106 Other Long-Term Liabilities
1,179 1,046 1,578 1,485 1,506 2,142 2,325 2,126 2,083 1,980 2,085 1,900 2,088 2,277 2,255 2,263 2,263 Total Liabilities
67.00 67.00 67.10 67.10 67.20 67.30 67.30 67.30 67.40 67.40 67.40 67.40 67.40 67.40 67.40 67.40 67.40 Common Stock
1,109 1,144 1,180 1,297 1,464 1,529 1,644 1,844 2,067 2,324 2,637 2,987 3,385 3,772 4,258 4,780 4,780 Retained Earnings
129 -177 1.80 143 -107 -68.40 -105 -175 -124 -44.80 -248 -364 -499 -329 -462 -508 -508 Accumulated other comprehensive
income (loss)
106 113 122 138 156 154 169 181 205 225 255 296 317 343 359 379 379 Additional Paid-In Capital
-300 -185 -295 -364 -393 -392 -387 -387 -413 -459 -503 -574 -654 -900 -1,123 -1,309 -1,309 Treasury Stock
1,111 962 1,076 1,280 1,187 1,290 1,389 1,531 1,802 2,113 2,208 2,413 2,617 2,954 3,099 3,409 3,409 Total Equity
0.49 0.48 0.41 0.46 0.44 0.37 0.37 0.42 0.46 0.51 0.51 0.56 0.55 0.56 0.58 0.60 0.60 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNA 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
81.70 92.90 100 181 244 144 193 284 315 360 432 491 560 572 696 711 711 Net Income
81.70 92.90 100 181 244 144 193 284 315 360 432 491 560 572 696 711 711 Net Income From Continuing
Operations
61.00 52.20 51.90 75.70 72.00 74.60 72.70 74.60 76.70 76.70 79.50 82.50 85.60 93.20 94.10 92.40 92.40 Depreciation, Depletion and
Amortization
47.30 31.50 -19.30 -2.60 27.10 18.60 -117 -88.30 -84.50 -75.70 -94.90 -79.30 -72.90 -97.30 -78.60 -36.60 -36.60 Change In Receivables
23.70 39.50 -22.20 15.20 -52.30 98.40 -55.20 -60.90 -13.40 -32.00 -61.10 -43.30 -32.70 -76.00 -38.60 -97.00 -97.00 Change In Inventory
-81.90 20.20 -16.30 -11.90 -9.30 14.10 -26.10 -35.70 -24.80 -10.30 -50.90 -28.20 -11.90 -10.00 10.40 -22.20 -22.20 Change In Prepaid Assets
-9.60 -51.30 31.80 -44.80 -114 -10.70 43.00 -93.70 -22.90 5.20 28.90 25.40 -35.60 4.00 -38.50 -100 -100 Change In Payables And Accrued
Expense
-16.20 62.60 52.90 -44.10 -148 120 -155 -279 -146 -113 -178 -125 -153 -179 -145 -256 -256 Change In Working Capital
21.60 14.60 -7.30 12.30 46.30 4.80 -18.00 5.10 29.30 9.50 3.20 -5.10 1.30 12.30 13.70 34.20 34.20 Change In DeferredTax
-- -- -- 19.00 13.00 -3.00 14.90 20.30 32.10 38.50 38.10 39.80 31.00 30.30 27.20 23.80 23.80 Stock Based Compensation
-1.30 -1.20 5.80 -13.00 -6.40 6.60 32.70 23.30 22.20 21.00 28.20 24.80 51.70 79.80 78.60 69.10 69.10 Cash Flow from Others
147 221 203 231 220 347 140 129 329 393 403 507 576 609 765 675 675 Cash Flow from Operations
-38.70 -40.10 -50.50 -61.90 -73.90 -64.40 -51.10 -61.20 -79.40 -70.60 -80.60 -80.40 -74.30 -82.00 -90.90 -99.40 -99.40 Purchase Of Property, Plant,
Equipment
17.90 8.90 11.70 16.10 10.50 1.30 7.90 3.70 2.60 8.40 0.80 3.50 2.20 1.50 0.70 1.70 1.70 Sale Of Property, Plant, Equipment
-- -- -- -5.70 -14.10 -8.10 -7.70 -- -- -38.20 -41.30 -11.80 -160 -82.90 -3.00 -38.60 -38.60 Purchase Of Business
-- -- -- -- -- -- -- -- 27.00 -- 0.80 -- 2.20 -- -- -- -- Sale Of Business
0.00 0.30 -507 -1.40 -8.60 -171 -252 -162 -123 -150 -153 -218 -243 -178 -117 -85.80 -85.80 Cash From Other Investing Activities
-20.80 -30.90 -546 -52.90 -86.10 -242 -303 -220 -173 -250 -273 -306 -473 -341 -210 -222 -222 Cash Flow from Investing
23.60 31.10 89.50 39.20 -- -- 23.70 25.70 46.80 29.20 33.00 41.60 41.80 46.20 55.50 51.40 51.40 Issuance of Stock
-38.20 -32.10 -110 -94.40 -69.80 -- -8.70 -37.40 -78.10 -82.60 -79.30 -110 -120 -288 -284 -238 -238 Repurchase of Stock
-3.40 -103 306 -36.60 -9.90 548 97.50 -199 -11.20 9.00 -55.00 -34.00 134 178 -57.50 17.60 17.60 Net Issuance of Debt
-57.70 -57.80 -63.60 -64.80 -69.70 -69.00 -71.30 -76.70 -81.50 -92.00 -108 -128 -148 -169 -192 -217 -217 Cash Flow for Dividends
-- -- 10.90 44.40 41.00 -3.00 -6.40 -5.90 -3.00 -1.40 -3.20 -6.00 -24.10 -23.40 -24.10 -23.40 -23.40 Other Financing
-75.70 -162 233 -151 -108 476 34.80 -294 -127 -138 -212 -237 -116 -256 -502 -409 -409 Cash Flow from Financing
53.90 20.40 -107 29.60 22.80 584 -127 -387 28.90 3.10 -84.70 -40.10 -15.20 14.40 48.90 43.60 43.60 Net Change in Cash
-38.70 -40.10 -50.50 -61.90 -73.90 -64.40 -51.10 -61.20 -79.40 -70.60 -80.60 -80.40 -74.30 -82.00 -90.90 -99.40 -99.40 Capital Expenditure
108 181 153 169 147 283 89.30 67.30 250 322 323 427 502 527 674 575 575 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNA 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
24.54 23.48 28.19 15.66 9.68 18.22 17.68 10.72 15.19 18.47 19.12 21.16 18.60 18.31 12.23 13.64 11.97 PE Ratio(TTM)
17.95 12.75 17.31 15.65 14.10 8.71 92.91 127 22.53 24.33 30.36 27.87 24.70 24.15 14.44 19.27 16.91 Price to Owner Earnings
(TTM)
1.79 2.26 2.59 2.16 1.91 1.89 2.37 1.93 2.55 3.01 3.60 4.13 3.79 3.35 2.61 2.73 2.39 Price to Book
3.31 4.35 65.80 12.23 13.60 9.06 8.29 5.39 5.70 5.87 6.66 6.98 6.46 5.56 4.11 4.13 3.62 Price to Tangible Book
18.57 12.13 18.39 16.71 15.61 8.67 37.03 44.13 18.63 20.09 25.07 23.74 20.28 19.39 12.36 16.47 14.45 Price-to-Free-Cash-Flow
Ratio
13.67 9.93 13.83 12.23 10.38 7.06 23.58 23.11 14.14 16.48 20.06 19.98 17.66 16.77 10.89 14.04 12.32 Price-to-Operating-Cash-
Flow Ratio
0.83 0.97 1.14 1.00 0.81 1.06 1.23 1.00 1.50 2.00 2.31 2.82 2.74 2.55 2.05 2.33 2.04 PS Ratio
-- -- 9.06 -- 0.69 0.95 0.93 0.49 1.66 1.39 1.09 1.57 1.51 1.56 1.23 1.70 1.48 PEG Ratio
0.90 0.99 1.33 1.12 0.95 1.22 1.46 1.26 1.74 2.20 2.51 3.00 2.93 2.75 2.23 2.54 2.25 EV-to-Revenue
10.65 10.36 15.20 11.90 5.78 8.62 9.65 6.86 9.08 10.83 11.46 12.41 11.58 11.36 8.62 9.72 8.62 EV-to-EBITDA
15.22 13.67 20.03 16.56 6.84 11.16 11.76 7.94 10.43 12.26 12.80 14.12 12.74 12.57 9.47 10.64 9.45 EV-to-EBIT
6.57 7.32 4.99 6.04 14.62 8.96 8.50 12.59 9.59 8.16 7.81 7.08 7.85 7.96 10.56 9.40 10.58 Return on Capital %
3.54 6.00 8.87 -0.20 20.49 26.47 24.47 25.09 12.75 16.39 20.26 16.19 15.82 15.75 15.68 13.44 14.19 Forward Rate of Return
18.57 20.52 26.72 26.12 17.45 18.65 25.18 18.50 25.70 30.84 33.47 36.19 30.88 27.67 20.36 20.54 18.03 Shiller PE Ratio
2.91 2.66 2.27 2.30 3.05 2.84 2.16 2.57 1.77 1.44 1.35 1.28 1.48 1.69 2.35 2.32 2.73 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,984 2,177 2,791 2,770 2,263 2,440 3,292 2,947 4,602 6,365 7,946 9,958 9,925 9,881 8,080 9,291 8,128 Market Cap
2,165 2,233 3,276 3,195 2,680 2,823 3,906 3,762 5,380 7,136 8,750 10,763 10,876 10,994 9,091 10,335 9,172 Enterprise Value
34.36 37.56 47.64 48.24 39.38 42.26 56.58 50.62 78.99 110 137 171 171 174 145 169 149 Month End Stock Price
-17.82 -15.11 -25.86 -24.24 -24.50 -25.25 -30.40 -33.60 -32.37 -30.61 -33.89 -31.43 -35.00 -38.86 -38.36 -38.29 -38.29 Net Cash (per share)
0.23 0.46 -7.94 -5.18 -6.67 -8.33 -9.89 -10.50 -7.40 -3.45 -4.19 -2.23 -3.83 -3.10 -1.03 1.75 1.75 Net Current Asset Value
(per share)
-7.83 -6.38 -15.94 -13.77 -15.35 -17.49 -21.85 -20.10 -17.52 -14.30 -16.53 -13.05 -15.42 -16.32 -14.65 -13.23 -13.23 Net-Net Working Capital (per
share)
27.30 36.48 37.89 43.07 41.27 46.10 46.54 45.41 51.29 65.75 82.39 85.21 96.42 119 136 147 147 Projected FCF (per share)
38.23 33.67 36.13 42.00 41.30 33.59 39.80 47.27 53.63 58.78 67.87 73.46 81.25 103 142 157 157 Median PS (per share)
-- 10.47 -- 25.76 57.02 44.71 61.09 103 47.58 78.99 126 109 113 111 118 99.73 99.73 Peter Lynch Fair Value (per
share)
18.08 17.12 5.18 16.93 16.28 15.61 22.14 31.55 40.27 49.88 57.45 66.93 74.10 81.92 97.11 107 107 Graham Number (per share)
37.72 38.82 34.71 36.55 37.37 35.40 36.91 39.95 41.63 45.36 54.23 58.77 60.72 70.31 85.28 96.76 96.76 Earnings Power Value
(EPV)
3.18 3.75 2.99 3.38 3.43 2.54 2.76 3.08 3.63 4.29 4.79 5.83 5.46 5.13 4.89 5.22 4.91 Altman Z-Score
7.00 7.00 5.00 8.00 7.00 4.00 5.00 8.00 8.00 7.00 7.00 8.00 7.00 5.00 7.00 5.00 5.00 Piotroski F-Score
-2.57 -2.93 -2.46 -2.54 -2.65 -3.01 -2.51 -1.57 -2.23 -2.26 -2.39 -2.44 -2.45 -2.40 -2.77 -- -- Beneish M-Score
0.60 0.45 0.78 0.64 0.58 0.62 0.58 0.63 0.70 0.74 0.73 0.75 0.82 0.86 0.78 0.83 0.80 Scaled Net Operating
Assets
-1.93 -4.84 16.68 0.11 3.78 0.84 9.36 10.00 3.84 5.06 6.77 6.42 9.39 5.54 2.34 4.23 4.23 Sloan Ratio (%)
1.77 2.12 1.63 1.86 2.08 2.27 2.00 2.62 2.83 2.51 2.59 2.67 1.90 1.78 2.33 2.51 2.51 Current Ratio
1.26 1.56 1.16 1.35 1.43 1.89 1.63 1.96 2.15 1.90 1.92 1.93 1.37 1.24 1.62 1.71 1.71 Quick Ratio
34.36 38.54 48.31 56.20 61.92 43.57 57.39 64.09 80.03 110 139 174 176 182 188 172 174 Highest Stock Price
27.26 30.70 36.39 44.59 28.62 20.66 39.88 42.45 50.62 77.06 97.23 131 135 142 136 144 141 Lowest Stock Price
0.73 -0.36 -1.07 1.96 -0.05 -0.50 -0.76 -0.07 -0.05 0.24 -- 0.05 0.23 2.17 1.90 1.37 1.37 Shares Buyback Ratio (%)
7.98 -5.41 6.18 16.91 1.29 -16.92 12.53 10.51 3.70 4.11 7.88 2.88 2.78 9.24 4.06 2.44 2.45 YoY Rev. per Sh. Growth
(%)
3.70 13.57 6.29 82.84 31.72 -43.00 37.50 47.65 10.40 14.04 20.40 13.45 13.58 3.48 24.68 4.55 4.55 YoY EPS Growth (%)
-3.22 5.88 -1.76 91.01 15.17 -29.09 22.53 34.83 7.65 10.81 15.82 10.69 10.60 4.42 11.45 3.39 3.39 YoY EBITDA Growth (%)
-3.50 -0.82 3.15 -5.92 14.01 19.27 19.09 21.84 9.15 13.32 17.58 13.51 12.28 11.71 9.96 8.03 8.10 EBITDA 5-Y Growth (%)
57.90 57.80 58.30 57.90 57.50 57.70 58.00 58.20 58.20 58.20 58.10 58.10 58.10 57.40 56.30 55.10 54.66 Shares Outstanding (Basic
Average)
57.75 57.96 58.58 57.43 57.46 57.75 58.18 58.22 58.25 58.12 58.11 58.09 57.95 56.69 55.61 54.85 54.85 Shares Outstanding (EOP)
1.41 1.51 1.11 0.86 1.34 1.57 1.54 1.67 1.33 1.33 0.99 1.14 1.28 1.06 1.35 1.33 1.31 Beta
02/21/06 02/21/06 02/20/07 02/19/08 02/18/09 02/18/10 02/17/11 02/16/12 02/14/13 02/14/14 02/12/15 02/11/16 02/09/17 02/15/18 02/14/19 02/13/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNA 6/7
02/21/06 02/20/07 02/19/08 02/18/09 02/18/10 02/17/11 02/14/13 02/14/14 02/12/15 02/11/16 02/09/17 02/15/18 02/14/19 02/13/20 02/13/20 02/13/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNA 7/7
Affiliated Managers Group Inc (NYSE:AMG) 03/02/2020 4:10PM EST GuruFocus
Price: $ 78.36 +3.14(+4.17%) Market Cap: $ 3.86 B Enterprise Value: $5.78 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 191.12
Cash to Debt 0.33 Operating margin (%) 31.12
Forward P/E N/A
Equity to Asset 0.38 Net-margin (%) 0.70
PE(NRI) 191.12
Interest Coverage 9.15 ROE (%) 0.50
F-Score:
P/B 1.31
ROA (%) 0.20
4 P/S 1.79
Z-Score: ROC (Joel Greenblatt) (%) 390.76
1.70 PFCF 4.62
Revenue Growth (3Y)(%) 0.60
M-Score: POCF 4.56
-2.90 EBITDA Growth (3Y)(%) -8.10
EV-to-EBIT 15.05
WACC vs 8.62% EPS Growth (3Y)(%) -21.00
ROIC 13.60% Shiller P/E 12.38
WACC
ROIC Current Ratio 1.42
Quick Ratio 1.42
Days Sales Outstanding 67.98
Warning Signs Quarterly Revenues Company Description
Affiliated Managers Group offers investment strategies to investors through its network of affiliates. The firm typically
Dividend Payout Ratio: Too Mar Jun Sep Dec Full Year
buys a majority interest in small to midsize boutique asset managers, receiving a fixed percentage of revenue from
high 2016 545 554 545 550 2,195 these firms in return. Affiliates operate independently, with AMG providing strategic, operational, and technology
2017 544 571 586 604 2,305 support, as well as global distribution. At the end of 2019, AMG's affiliate network--which includes firms like AQR
PE Ratio: Close to 10-year Capital Management, Blue Mountain, and Pantheon in alternative assets and other products (which account for 37%
2018 612 600 601 565 2,378 of AUM), Artemis, Genesis, Harding Loevner, and Tweedy Browne in global equities (35%) and Frontier, River Road,
high
2019 543 592 549 556 2,240 and Yacktman in U.S. equities (14%)--had an estimated $755 billion in managed assets.... (Read More)
Tax Rate: Tax Rate is too low 2020 Competitors: NYSE:LM, TPE:2883 , LSE:QLT, TSX:CIX, LUX:REINI, XSWX:VONN, ASX:AMP, NYSE:JHG,
XBRU:KBCA, BOM:540767, TSE:8473, XPAR:TKO, NAS:HLNE, NYSE:CNS, NYSE:FHI, LSE:ASHM, XPAR:RF,
Quarterly Earnings per Share MIL:AZM, NYSE:AB, NYSE:FSK
Good Signs Mar Jun Sep Dec Full Year Insider Trades
Revenue per Share: 2016 1.90 1.98 2.02 2.67 8.57
Consistent growth 2017 2.13 2.22 2.22 5.50 12.07
2018 2.77 2.16 2.34 -2.88 4.39
Operating Margin %: 2019 -3.87 2.11 1.71 0.46 0.41
Expansion 2020
Dividend Yield %: Close to 5- Quarterly Dividends Per Share
year high
Mar Jun Sep Dec Full Year
Price: Close to 5-year low 2016 0.00 0.00 0.00 0.00 0.00
PS Ratio: Close to 10-year 2017 0.20 0.20 0.20 0.20 0.80
low 2018 0.30 0.30 0.30 0.30 1.20
2019 0.32 0.32 0.32 0.32 1.28
Insider Buy: Insider Buying 2020
Growth Rate
DCF
Annual Rates(per share) 10-Y 5-Y 12-M
EPS without NRI: $0.41
Revenue Growth (%) 6.10 0.80 1.40
Growth Rate in the next 10
years: 5% EBITDA Growth (%) 11.20 -2.10 -67.80
Terminal Growth Rate for 10 Free Cash Flow Growth (%) 10.50 1.20 -22.60
years: 4% Book Value Growth (%) 12.10 11.40 -10.00
Fair Value: $4.39
EPS Growth (%) 0.00 -1.70 -122.90
Reverse DCF
Expected eps Growth Rate:
49.61%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMG 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.65 20.51 25.92 32.31 30.31 19.43 27.49 32.17 34.07 38.60 43.00 43.44 38.50 39.33 44.21 44.26 44.28 Revenue per Share
7.47 8.28 10.92 8.97 7.11 8.53 11.01 12.58 14.46 19.84 21.56 22.26 20.98 21.53 17.31 10.87 11.04 EBITDA per Share
6.76 7.50 10.05 7.90 5.89 7.47 9.51 10.45 10.42 17.33 19.18 19.92 18.71 19.71 14.76 7.59 7.73 EBIT per Share
2.02 2.81 3.74 4.55 -0.03 1.38 2.81 3.11 3.28 6.55 7.70 9.17 8.57 12.03 4.52 0.31 0.41 Earnings per Share (diluted)
2.02 2.81 3.74 4.55 -0.03 1.38 2.81 3.11 3.28 6.55 7.70 9.17 8.57 12.03 4.52 0.31 0.41 eps without NRI
3.79 4.21 5.88 8.38 1.42 1.14 4.95 6.48 6.46 9.28 13.01 13.35 11.74 11.06 7.71 -- -3.53 Owner Earnings per Share (TTM)
4.31 4.24 6.19 7.31 13.04 5.55 9.55 13.06 11.57 16.46 24.28 20.54 18.07 19.66 20.85 -- -- Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- -- -- 0.80 1.20 1.28 1.28 Dividends per Share
23.87 24.08 16.87 12.88 22.51 24.23 33.37 34.62 39.93 40.34 48.11 52.73 63.84 69.37 66.51 59.62 59.62 Book Value per Share
-6.10 -22.37 -39.87 -34.51 -19.72 -19.11 -32.30 -29.17 -35.57 -31.54 -33.04 -28.21 -8.92 -5.26 -9.35 -18.19 -18.19 Tangible Book per Share
28.69 28.44 36.45 32.86 5.69 9.98 16.35 12.72 31.24 26.16 34.71 34.93 37.21 33.66 35.20 36.41 36.41 Total Debt per Share
67.74 80.25 105 117 41.92 67.35 99.22 95.95 130 217 212 160 145 205 97.44 -- 78.36 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.67 15.61 22.98 37.58 -0.19 5.85 9.53 9.00 8.81 17.09 18.23 18.65 14.65 18.53 6.69 0.49 0.50 Return on Equity %
4.47 5.60 6.07 6.00 -0.04 1.80 3.20 3.14 3.05 5.77 6.19 6.59 5.72 7.90 2.88 0.20 0.20 Return on Assets %
688 732 792 501 317 482 722 810 733 1,131 1,194 1,088 951 1,045 738 391 391 Return on Capital %
13.79 12.90 17.50 13.48 25.96 14.71 11.05 13.16 9.86 12.27 14.16 13.06 9.64 12.52 10.22 13.85 13.60 Return on Invested Capital %
12.21 13.02 13.25 11.98 12.20 14.99 15.77 12.30 12.92 12.26 9.68 8.96 10.18 11.99 10.61 -- 8.62 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 11.38 22.63 13.61 12.90 4.91 7.90 6.51 2.58 4.60 4.43 4.38 4.21 4.24 Effective Interest Rate on Debt %
97.47 97.65 59.64 57.71 55.37 52.18 56.23 57.84 56.54 56.71 58.96 58.64 57.51 57.53 58.49 57.89 57.89 Gross Margin %
40.59 36.56 38.78 24.46 30.96 28.49 27.54 28.51 22.18 28.97 32.47 33.61 31.49 34.20 32.25 31.12 31.12 Operating Margin %
11.69 12.99 12.93 13.28 -0.11 7.06 10.20 9.67 9.64 16.47 17.28 20.51 21.54 29.91 10.24 0.70 0.70 Net Margin %
25.90 20.68 23.88 22.62 43.03 28.59 34.74 40.61 33.96 42.63 56.46 47.29 46.94 49.97 47.17 -- -- FCF Margin %
1.20 1.18 2.16 2.55 0.25 0.41 0.49 0.37 0.78 0.65 0.72 0.66 0.58 0.49 0.53 0.61 0.61 Debt to Equity
0.37 0.35 0.19 0.14 0.29 0.33 0.34 0.36 0.34 0.34 0.34 0.37 0.41 0.44 0.42 0.38 0.38 Total Equity to Total Asset
0.44 0.42 0.41 0.35 0.07 0.14 0.17 0.13 0.26 0.22 0.25 0.24 0.24 0.21 0.22 0.23 0.23 Total Debt to Total Asset
37.26 42.07 27.99 26.08 19.41 13.30 17.62 18.78 17.90 19.85 21.12 18.84 15.28 15.20 16.44 16.34 16.64 Gross Profit to Total Asset %
0.38 0.43 0.47 0.45 0.35 0.26 0.31 0.33 0.32 0.35 0.36 0.32 0.27 0.26 0.28 0.28 0.29 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- -- 0.07 0.27 4.13 4.13 Dividend Payout Ratio
-- 59.28 62.81 -- -- -- 74.82 46.01 62.87 69.77 61.91 57.47 63.75 68.69 61.48 67.98 67.98 Days Sales Outstanding
179 149 7.23 3.13 6.29 4.65 24.44 45.75 27.68 -- -- -- -- -- -- -- -- Days Accounts Payable
-179 -90.14 55.58 -3.13 -6.29 -4.65 50.38 0.26 35.19 69.77 61.91 57.47 63.75 68.69 61.48 67.98 67.98 Cash Conversion Cycle
0.03 0.02 0.40 0.42 0.45 0.48 0.44 0.42 0.43 0.43 0.41 0.41 0.42 0.42 0.42 0.42 0.42 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMG 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
660 916 1,170 1,370 1,158 842 1,358 1,705 1,806 2,189 2,511 2,485 2,195 2,305 2,378 2,240 2,240 Revenue
16.71 21.50 472 579 517 403 595 719 785 948 1,031 1,028 932 979 987 943 943 Cost of Goods Sold
643 895 698 791 641 439 764 986 1,021 1,241 1,480 1,457 1,262 1,326 1,391 1,297 1,297 Gross Profit
97.47 97.65 59.64 57.71 55.37 52.18 56.23 57.84 56.54 56.71 58.96 58.64 57.51 57.53 58.49 57.89 57.89 Gross Margin %
351 528 208 217 210 127 285 351 367 427 486 444 398 373 418 377 377 Selling, General, & Admin. Expense
24.71 31.90 36.14 239 73.13 72.63 105 149 254 180 180 178 173 165 207 223 223 Other Operating Expense
268 335 454 335 359 240 374 486 400 634 815 835 691 788 767 697 697 Operating Income
40.59 36.56 38.78 24.46 30.96 28.49 27.54 28.51 22.18 28.97 32.47 33.61 31.49 34.20 32.25 31.12 31.12 Operating Margin %
-- -- -- -- -- 24.90 22.91 -- -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -- -81.43 -78.13 -91.10 -101 -56.90 -119 -107 -48.60 -91.70 -87.80 -80.60 -76.20 -76.20 Interest Expense
-- -- -- -- -81.43 -53.23 -91.10 -101 -56.90 -119 -107 -48.60 -91.70 -87.80 -80.60 -76.20 -76.20 Net Interest Income
-139 -145 -216 -46.23 -134 59.06 95.90 67.70 152 349 305 304 375 367 27.20 -313 -313 Other Income (Expense)
-116 -144 -216 -280 60.50 -153 -149 -195 -237 -309 -334 -318 -266 -319 -289 -289 -290 Other Income (Minority Interest)
129 190 238 289 144 246 379 453 495 864 1,014 1,091 975 1,067 714 308 308 Pre-Tax Income
-51.95 -70.58 -86.61 -107 -11.63 -32.76 -91.50 -93.10 -83.80 -194 -246 -263 -236 -58.40 -181 -2.90 -2.80 Tax Provision
40.24 37.22 36.41 37.00 8.10 13.33 24.16 20.57 16.92 22.47 24.28 24.15 24.17 5.47 25.41 0.94 0.91 Tax Rate %
77.15 119 151 182 -61.83 213 287 360 411 670 767 827 739 1,009 532 305 305 Net Income (Continuing Operations)
77.15 119 151 182 -1.33 59.47 139 165 174 361 434 510 473 690 244 15.70 15.70 Net Income
11.69 12.99 12.93 13.28 -0.11 7.06 10.20 9.67 9.64 16.47 17.28 20.51 21.54 29.91 10.24 0.70 0.70 Net Margin %
2.57 3.54 4.83 6.18 -0.03 1.44 2.92 3.18 3.36 6.79 7.89 9.37 8.73 12.30 4.55 0.31 0.41 EPS (Basic)
2.02 2.81 3.74 4.55 -0.03 1.38 2.81 3.11 3.28 6.55 7.70 9.17 8.57 12.03 4.52 0.31 0.41 EPS (Diluted)
39.65 44.69 45.16 42.40 38.21 43.33 49.40 53.00 53.00 56.70 58.40 57.20 57.00 58.60 53.80 50.60 49.10 Shares Outstanding (Diluted
Average)
28.35 34.92 39.00 45.35 46.62 45.68 74.10 113 214 142 139 134 130 107 137 166 166 Depreciation, Depletion and
Amortization
296 370 493 380 272 369 544 667 766 1,125 1,259 1,273 1,196 1,262 931 550 550 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMG 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
140 140 202 223 396 259 313 450 430 470 551 564 431 440 566 540 540 Cash And Cash Equivalents
21.17 10.98 124 156 79.19 150 116 100 129 158 173 200 122 77.80 119 59.40 59.40 Marketable Securities
161 151 326 379 476 410 429 550 559 628 723 764 553 517 685 599 599 Cash, Cash Equivalents, Marketable
Securities
-- 149 201 -- -- -- 278 215 311 418 426 391 383 434 401 417 417 Accounts Receivable
24.80 35.12 27.30 33.27 23.97 35.48 63.20 77.10 -- -- -- -- -- 0.00 -- -- -- Other Current Assets
278 335 554 650 631 586 771 876 870 1,046 1,149 1,155 937 951 1,085 1,016 1,016 Total Current Assets
-- -- -- -- 679 658 679 616 1,187 1,288 1,951 2,086 3,516 3,470 2,992 2,407 2,407 Investments And Advances
12.14 12.61 13.40 15.20 13.58 13.58 17.00 17.90 18.10 18.90 18.70 18.60 17.90 18.70 18.60 -- -- Land And Improvements
22.95 31.83 44.50 49.77 52.92 52.46 56.20 59.10 74.70 78.50 84.10 105 104 112 118 -- -- Buildings And Improvements
28.45 39.03 36.13 45.20 44.86 60.03 67.00 75.20 76.60 82.50 96.60 108 113 117 114 -- -- Machinery, Furniture, Equipment
68.80 89.08 103 119 127 126 140 152 169 180 199 231 234 247 251 92.30 92.30 Gross Property, Plant and Equipment
-27.85 -38.49 -39.01 -49.60 -55.37 -63.68 -72.50 -83.10 -87.90 -87.60 -104 -117 -124 -136 -146 -- -- Accumulated Depreciation
40.95 50.59 63.98 69.88 71.85 62.40 67.70 69.10 81.50 92.30 95.40 114 110 111 104 92.30 92.30 Property, Plant and Equipment
889 1,577 1,679 1,727 1,735 1,985 3,543 3,438 3,941 3,802 4,431 4,355 4,126 4,112 3,943 3,834 3,834 Intangible Assets
-- 1,093 1,177 1,230 1,244 1,413 2,122 2,117 2,355 2,342 2,653 2,668 2,628 2,663 2,633 2,652 2,652 Goodwill
726 359 368 949 96.29 99.80 220 219 108 90.60 71.70 59.20 61.20 58.10 94.00 304 304 Other Long Term Assets
1,933 2,322 2,666 3,396 3,213 3,391 5,280 5,219 6,187 6,319 7,698 7,769 8,749 8,702 8,219 7,654 7,654 Total Assets
8.20 8.80 9.36 4.97 8.91 5.13 39.80 90.10 59.50 -- -- -- -- -- -- -- -- Accounts Payable
-- -- -- -- -- -- -- -- 13.70 73.00 59.80 67.90 87.70 93.00 42.90 -- -- Total Tax Payable
113 176 246 245 184 227 290 281 225 303 317 274 311 335 283 635 635 Accounts Payable & Accrued
Expense
-- 65.75 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
1.01 0.89 0.95 1.49 -- -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Revenue
1.01 0.89 0.95 1.49 -- -- -- -- -- -- -- -- -- -- -- -- -- DeferredTaxAndRevenue
17.73 14.13 41.09 69.95 26.19 -- 117 136 139 211 491 455 419 473 463 -- -- Other Current Liabilities
132 257 288 316 210 227 407 418 363 515 808 729 729 807 747 635 635 Total Current Liabilities
851 900 1,079 1,198 234 457 882 686 1,631 1,384 1,895 1,879 2,110 1,855 1,830 1,794 1,794 Long-Term Debt
851 900 1,079 1,198 234 457 882 686 1,631 1,384 1,895 1,879 2,110 1,855 1,830 1,794 1,794 Long-Term Debt & Capital Lease
Obligation
1.20 1.18 2.16 2.55 0.25 0.41 0.49 0.37 0.78 0.65 0.72 0.66 0.58 0.49 0.53 0.61 0.61 Debt to Equity
124 183 219 257 319 323 495 506 497 457 492 566 661 467 512 450 450 NonCurrent Deferred Liabilities
87.38 145 270 322 246 741 982 634 957 1,010 1,016 932 807 756 678 562 562 Minority Interest
31.40 20.15 311 834 1,279 533 713 1,110 655 819 860 826 823 994 996 1,276 1,276 Other Long-Term Liabilities
1,138 1,359 1,896 2,604 2,042 1,540 2,498 2,719 3,146 3,174 4,055 4,000 4,323 4,124 4,084 4,154 4,154 Total Liabilities
0.39 0.39 0.39 0.39 0.46 0.46 0.50 0.50 0.50 0.50 0.60 0.60 0.60 0.60 0.60 0.60 0.60 Common Stock
384 503 654 836 814 873 1,012 1,177 1,351 1,711 2,163 2,582 3,054 3,699 3,877 3,820 3,820 Retained Earnings
1.54 16.76 14.67 64.74 -4.08 45.96 101 50.00 79.10 74.00 31.80 -18.10 -123 -21.80 -109 -109 -109 Accumulated other comprehensive
income (loss)
567 593 609 662 818 612 981 928 869 480 672 695 1,074 809 836 707 707 Additional Paid-In Capital
-245 -296 -780 -1,095 -703 -422 -293 -289 -215 -131 -241 -422 -386 -664 -1,147 -1,481 -1,481 Treasury Stock
708 817 499 469 925 1,110 1,800 1,866 2,084 2,134 2,627 2,837 3,620 3,822 3,457 2,938 2,938 Total Equity
0.37 0.35 0.19 0.14 0.29 0.33 0.34 0.36 0.34 0.34 0.34 0.37 0.41 0.44 0.42 0.38 0.38 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMG 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
77.15 119 151 182 132 213 287 360 411 670 767 827 739 1,009 532 15.70 232 Net Income
77.15 119 151 182 132 213 287 360 411 670 767 827 739 1,009 532 305 305 Net Income From Continuing
Operations
28.35 34.92 39.00 45.35 46.62 45.68 74.10 113 214 142 139 134 130 107 137 166 166 Depreciation, Depletion and
Amortization
-36.19 -53.85 -52.28 -35.96 103 -6.55 -35.10 22.60 -41.60 -102 26.50 54.50 29.60 -53.50 14.40 -- 4.50 Change In Receivables
-- -- 0.15 -4.72 29.15 -8.39 -3.40 -1.50 -4.20 -- -- -- -- -- -- -- -- Change In Prepaid Assets
16.39 32.22 65.81 21.04 -86.08 -60.90 55.90 11.10 0.40 178 190 -32.00 20.30 52.30 -6.80 -- -74.80 Change In Payables And Accrued
Expense
30.36 15.20 53.64 48.13 61.68 -72.25 16.10 35.20 -45.90 63.00 210 29.20 43.80 -8.90 -4.10 -- -75.80 Change In Working Capital
31.62 31.69 31.34 32.23 -37.54 28.70 35.40 35.20 11.10 27.70 81.00 101 59.30 -124 51.90 -- -56.20 Change In DeferredTax
-- -- -- -- -- 8.60 19.50 52.40 69.30 84.10 114 103 80.40 90.40 101 -- 86.80 Stock Based Compensation
10.41 3.20 25.74 18.99 305 19.55 48.30 113 -26.80 -29.50 126 18.70 -1.90 97.10 323 -- 683 Cash Flow from Others
178 204 301 327 508 243 481 709 633 957 1,437 1,213 1,050 1,170 1,141 -- 881 Cash Flow from Operations
-6.98 -14.52 -21.51 -16.82 -9.55 -2.57 -8.80 -16.10 -20.00 -24.00 -19.20 -38.20 -20.20 -18.50 -18.70 -- -11.60 Purchase Of Property, Plant,
Equipment
-- -- -- -- -75.60 -139 -916 -13.30 -797 -26.30 -1,245 -298 -1,361 -30.60 -7.30 -- -162 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 28.80 Sale Of Business
-511 -6.39 -153 -570 -33.61 -47.73 -64.00 -49.20 -19.10 -11.40 -21.20 -13.50 -16.00 -37.20 -40.80 -- -47.10 Purchase Of Investment
39.96 24.06 9.22 6.40 25.16 8.07 15.10 10.90 34.20 11.40 17.30 24.90 65.30 100 48.60 -- 55.00 Sale Of Investment
-0.06 -85.18 -0.00 0.00 0.00 -0.00 0.00 0.00 0.00 0.00 0.00 -0.00 -0.00 -- -0.00 -- -0.00 Cash From Other Investing Activities
-478 -82.03 -165 -581 -93.61 -182 -974 -67.70 -802 -50.30 -1,268 -325 -1,332 13.80 -18.20 -- -137 Cash Flow from Investing
210 28.89 52.77 553 239 37.13 46.40 28.00 73.40 48.20 41.40 57.80 466 41.90 9.70 -- -- Issuance of Stock
-194 -82.32 -536 -436 -65.49 -39.53 -- -61.00 -60.90 -15.70 -191 -414 -33.40 -393 -506 -- -311 Repurchase of Stock
-- -- -- -- -24.21 -- -- -- -- -- -- -- -- -- -- -- -- Net Issuance of Preferred Stock
212 -52.17 417 151 -29.09 -230 460 -210 415 -441 726 -2.70 225 -260 -30.60 -- -58.40 Net Issuance of Debt
-- -- -- -- -252 -120 -101 -- -- -- -- -- -- -44.90 -64.40 -- -65.40 Cash Flow for Dividends
-12.80 -16.67 -7.93 3.76 -106 150 140 -261 -281 -460 -654 -499 -457 -534 -392 -- -350 Other Financing
215 -122 -75.08 273 -238 -202 545 -504 146 -869 -77.60 -858 201 -1,190 -983 -- -776 Cash Flow from Financing
-84.01 0.15 61.31 21.23 173 -137 53.80 136 -19.10 39.20 81.00 13.20 -131 8.70 129 -- -39.80 Net Change in Cash
-6.98 -14.52 -21.51 -16.82 -9.55 -2.57 -8.80 -16.10 -20.00 -24.00 -19.20 -38.20 -20.20 -18.50 -18.70 -- -11.60 Capital Expenditure
171 190 279 310 498 241 472 692 613 933 1,418 1,175 1,030 1,152 1,122 -- -- Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMG 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
31.95 28.56 28.03 25.82 -- 49.16 35.44 30.75 39.80 33.42 26.56 17.23 16.95 17.00 22.20 -- 191 PE Ratio(TTM)
17.88 19.06 17.88 14.02 29.54 59.18 20.05 14.81 20.16 23.37 16.32 11.97 12.37 18.55 12.63 -- -- Price to Owner Earnings
(TTM)
2.84 3.33 6.23 9.12 1.86 2.78 2.97 2.77 3.26 5.38 4.41 3.03 2.28 2.96 1.47 -- 1.31 Price to Book
15.36 19.02 16.84 15.71 3.40 12.28 10.45 7.34 11.25 13.20 8.85 7.76 8.07 10.41 4.74 -- 4.62 Price-to-Free-Cash-Flow
Ratio
14.74 17.66 15.65 14.90 3.34 12.15 10.26 7.17 10.89 12.87 8.74 7.52 7.91 10.24 4.67 -- 4.56 Price-to-Operating-Cash-
Flow Ratio
3.85 3.92 4.05 3.57 1.49 3.48 3.61 2.98 3.82 5.66 4.97 3.68 3.78 5.21 2.25 -- 1.79 PS Ratio
9.86 3.54 2.47 2.04 -- -- -- 9.32 2.08 1.08 1.28 1.03 1.40 3.23 -- -- -- PEG Ratio
4.22 4.02 3.53 3.96 1.49 4.60 5.00 3.48 4.89 6.05 5.49 4.28 4.83 5.81 2.90 -- 2.58 EV-to-Revenue
9.40 9.96 8.39 14.25 6.01 10.51 12.48 8.81 10.90 11.77 10.94 8.29 8.86 10.62 7.40 -- 10.51 EV-to-EBITDA
10.40 10.99 9.11 16.18 7.18 12.00 14.45 10.57 14.82 13.47 12.30 9.26 9.94 11.60 8.67 -- 15.05 EV-to-EBIT
9.62 9.10 10.98 6.18 13.93 8.33 6.92 9.46 6.75 7.42 8.13 10.80 10.06 8.62 11.53 -- 6.64 Return on Capital %
8.34 12.44 15.35 16.93 20.78 2.41 2.43 13.08 27.16 25.61 26.84 27.20 24.36 14.74 20.58 -- 10.91 Forward Rate of Return
-- -- -- 46.98 17.67 28.88 40.64 36.47 46.58 66.61 56.07 36.27 29.66 35.92 15.45 -- 12.38 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- -- -- -- 0.39 1.23 1.51 1.63 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,008 2,724 3,111 4,281 1,722 3,084 5,352 5,172 6,794 11,473 11,588 8,595 8,239 11,309 5,065 -- 3,861 Market Cap
2,785 3,684 4,135 5,421 1,726 3,872 6,787 5,941 8,822 13,240 13,776 10,643 10,602 13,403 6,888 -- 5,784 Enterprise Value
67.74 80.25 105 117 41.92 67.35 99.22 95.95 130 217 212 160 145 205 97.44 -- 78.36 Month End Stock Price
-35.90 -39.85 -62.21 -69.91 -44.12 -40.86 -56.55 -52.00 -67.89 -67.24 -79.63 -77.48 -80.71 -79.18 -78.43 -83.56 -83.56 Net Cash (per share)
-31.97 -34.43 -54.48 -62.47 -40.34 -37.03 -50.22 -45.95 -61.93 -59.33 -71.83 -70.21 -73.95 -71.30 -70.72 -75.09 -75.09 Net Current Asset Value
(per share)
-35.90 -36.56 -57.10 -69.91 -44.12 -40.86 -52.68 -49.01 -63.42 -61.31 -73.78 -72.03 -75.64 -73.27 -72.65 -77.21 -77.21 Net-Net Working Capital (per
share)
54.71 53.01 61.12 92.84 108 79.58 89.27 104 115 132 198 272 245 228 258 -- -- Projected FCF (per share)
-- -- -- 107 88.17 62.00 94.66 111 119 143 169 173 146 150 171 -- 172 Median PS (per share)
-- 22.68 42.60 57.65 -1.75 15.91 19.46 23.62 62.69 162 166 155 104 63.61 -- -- -- Peter Lynch Fair Value (per
share)
22.95 27.70 39.47 56.79 62.96 51.93 39.31 49.01 38.18 60.59 66.70 91.68 87.25 107 133 -- 134 Earnings Power Value
(EPV)
1.99 2.21 2.18 2.13 1.66 2.25 2.19 2.24 2.31 3.51 2.97 2.63 2.31 2.96 2.06 -- 1.70 Altman Z-Score
6.00 7.00 7.00 8.00 4.00 4.00 6.00 6.00 6.00 7.00 6.00 6.00 3.00 7.00 7.00 -- 4.00 Piotroski F-Score
-2.56 -2.46 -2.17 -3.37 -2.95 -3.14 -2.50 -3.16 -2.71 -2.85 -3.31 -3.12 -2.95 -2.77 -3.13 -- -2.90 Beneish M-Score
0.98 0.92 0.66 0.60 0.27 0.59 0.95 0.50 0.79 0.63 0.76 0.64 0.77 0.68 0.61 0.57 0.61 Scaled Net Operating
Assets
19.53 -0.13 0.58 12.84 -12.94 -0.07 11.96 -9.12 5.55 -8.65 3.44 -4.88 8.63 -5.68 -10.69 0.21 -6.02 Sloan Ratio (%)
2.10 1.31 1.93 2.05 3.00 2.58 1.89 2.10 2.40 2.03 1.42 1.58 1.28 1.18 1.45 1.60 1.60 Current Ratio
2.10 1.31 1.93 2.05 3.00 2.58 1.89 2.10 2.40 2.03 1.42 1.58 1.28 1.18 1.45 1.60 1.60 Quick Ratio
67.74 82.76 107 135 117 73.28 102 112 132 217 217 228 179 207 216 -- 116 Highest Stock Price
43.35 57.08 80.25 104 18.99 29.19 59.70 72.88 95.95 130 179 144 118 141 90.24 -- 71.09 Lowest Stock Price
7.32 -14.50 12.82 -23.13 -12.72 -11.49 -17.79 0.08 3.15 -1.34 -3.21 1.47 -5.39 2.82 5.65 5.22 5.22 Shares Buyback Ratio (%)
102 23.19 26.37 24.67 -6.18 -35.91 41.52 16.99 5.91 13.32 11.38 1.02 -11.36 2.16 12.39 0.12 2.06 YoY Rev. per Sh. Growth
(%)
92.99 39.11 33.10 21.66 -101 4,700 104 10.68 5.47 99.70 17.56 19.09 -6.54 40.37 -62.43 -93.14 -90.66 YoY EPS Growth (%)
101 10.80 31.84 -17.80 -20.79 19.98 29.14 14.19 14.97 37.23 8.68 3.24 -5.75 2.61 -19.62 -37.19 -34.11 YoY EBITDA Growth (%)
3.24 8.07 11.36 12.67 4.56 -8.03 -5.71 3.30 19.17 30.96 20.79 16.70 12.11 5.27 -0.15 -- -2.10 EBITDA 5-Y Growth (%)
30.00 33.67 31.29 29.47 38.21 41.39 47.40 51.80 51.70 53.10 55.00 54.30 54.20 56.00 53.60 50.50 48.90 Shares Outstanding (Basic
Average)
29.65 33.95 29.60 36.44 41.08 45.80 53.94 53.90 52.20 52.90 54.60 53.80 56.70 55.10 51.98 49.27 49.27 Shares Outstanding (EOP)
1.95 2.07 2.13 1.84 2.58 2.09 2.14 1.77 1.94 1.58 1.31 1.32 1.56 1.85 1.73 1.66 1.64 Beta
03/16/05 03/16/06 03/01/07 02/29/08 03/02/09 03/01/10 03/01/11 02/23/12 02/22/13 02/27/14 02/23/15 02/25/16 02/24/17 02/23/18 02/22/19 02/03/20 Filing Date
03/16/06 03/01/07 02/29/08 03/02/09 03/01/10 03/01/11 02/22/13 02/27/14 02/23/15 02/25/16 02/24/17 02/23/18 02/22/19 02/22/19 02/22/19 02/03/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMG 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AMG 7/7
Cisco Systems Inc (NAS:CSCO) 03/02/2020 4:00PM EST GuruFocus
Price: $ 41.17 +1.24(+3.11%) Market Cap: $ 174.6 B Enterprise Value: $163.53 B Stock PDF
Financial Strength : 6/10 Profitability & Growth : 10/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 16.08
Cash to Debt 1.69 Operating margin (%) 28.02
Forward P/E N/A
Equity to Asset 0.39 Net-margin (%) 21.44
PE(NRI) 16.08
Interest Coverage 19.24 ROE (%) 30.52
F-Score:
P/B 4.94
ROA (%) 11.50
8 P/S 3.44
Z-Score: ROC (Joel Greenblatt) (%) 552.22
3.21 PFCF 11.97
Revenue Growth (3Y)(%) 6.40
M-Score: POCF 11.34
-2.49 EBITDA Growth (3Y)(%) 7.90
EV-to-EBIT 10.70
WACC vs 6.83% EPS Growth (3Y)(%) 7.30
ROIC 43.56% PEG 1.83
WACC
ROIC Shiller P/E 23.16
Current Ratio 1.81
Quick Ratio 1.75
Days Inventory 28.67
Days Sales Outstanding 30.66
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Cisco Systems, Inc. is the world's largest hardware and software supplier within the networking solutions sector. The
Insider Sell: Insider Selling
infrastructure platforms group includes hardware and software products for switching, routing, data center, and
2016 11,927 12,000 12,638 12,352 48,917 wireless applications. Its applications portfolio contains collaboration, analytics, and Internet of Things products. The
2017 11,580 11,940 12,133 12,136 47,789 security segment contains Cisco's firewall and software-defined security products. Services are Cisco's technical
Good Signs 2018 11,887 12,463 12,844 13,072 50,266
support and advanced services offerings. The company's wide array of hardware is complemented with solutions for
software-defined networking, analytics, and intent-based networking. In collaboration with Cisco's initiative on growing
Piotroski F-Score: High 2019 12,446 12,958 13,428 13,159 51,991 software and services, its revenue model is focused on increasing subscriptions and recurring sales.... (Read More)
2020 12,005 Competitors: SHSE:601138 , NYSE:MSI, SZSE:000063 , OSTO:ERIC A, SHSE:600745 , OHEL:NOKIA,
Revenue per Share: NYSE:HPE, NAS:ZBRA, SZSE:300454, NYSE:UI, SZSE:300628, HKSE:02018, NYSE:ZAYO, NYSE:JNPR,
Consistent growth Quarterly Earnings per Share SHSE:688036, SZSE:300136, NYSE:CIEN, NAS:LITE, SHSE:600498, SHSE:600487
Operating Margin %: Mar Jun Sep Dec Full Year Insider Trades
Expansion 2016 0.62 0.46 0.56 0.46 2.10
2017 0.47 0.50 0.48 0.48 1.93
Dividend Yield %: Close to 2018 -1.78 0.56 0.81 0.77 0.36
10-year high 2019 0.63 0.69 0.51 0.68 2.51
PE Ratio: Close to 3-year low 2020 0.68
PB Ratio: Close to 1-year low Quarterly Dividends Per Share
PS Ratio: Close to 3-year low Mar Jun Sep Dec Full Year
2016 0.21 0.26 0.26 0.26 0.99
2017 0.26 0.29 0.29 0.29 1.13
DCF 2018 0.29 0.33 0.33 0.33 1.28
EPS without NRI: $2.56 2019 0.33 0.35 0.35 0.35 1.38
Growth Rate in the next 10 2020 0.35
years: 5% Growth Rate
Terminal Growth Rate for 10
years: 4% Annual Rates(per share) 10-Y 5-Y 12-M
Fair Value: $27.40 Revenue Growth (%) 5.30 4.30 10.60
EBITDA Growth (%) 7.50 8.80 9.80
Reverse DCF Free Cash Flow Growth (%) 7.50 8.70 22.60
Expected eps Growth Rate: Book Value Growth (%) 3.20 3.20 -9.50
11.33% EPS Growth (%) -8.80 -26.40 -7.60
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CSCO 1/7
Per Share Data
Jul04 Jul05 Jul06 Jul07 Jul08 Jul09 Jul10 Jul11 Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 TTM Fiscal Period
3.12 3.75 4.54 5.57 6.42 6.17 6.85 7.77 8.52 9.04 8.93 9.55 9.68 9.51 10.11 11.66 11.97 Revenue per Share
1.10 1.28 1.34 1.62 2.00 1.67 2.06 1.97 2.40 2.65 2.41 2.76 3.10 3.06 3.31 3.89 3.98 EBITDA per Share
0.89 1.13 1.13 1.39 1.72 1.37 1.72 1.52 1.99 2.20 1.95 2.29 2.67 2.60 2.87 3.47 3.55 EBIT per Share
0.62 0.87 0.89 1.17 1.31 1.05 1.33 1.17 1.49 1.86 1.49 1.75 2.11 1.90 0.02 2.61 2.56 Earnings per Share (diluted)
0.70 0.87 0.89 1.17 1.31 1.05 1.33 1.17 1.49 1.86 1.49 1.75 2.11 1.90 0.02 2.61 2.56 eps without NRI
0.64 0.86 0.94 1.50 1.75 1.30 1.39 1.39 1.63 2.01 1.98 2.00 2.26 2.24 2.38 3.10 3.11 Owner Earnings per Share (TTM)
0.92 1.04 1.14 1.41 1.76 1.52 1.57 1.60 1.92 2.18 2.09 2.20 2.44 2.56 2.63 3.35 3.44 Free Cashflow per Share
-- -- -- -- -- -- -- 0.12 0.28 0.62 0.72 0.80 0.94 1.10 1.24 1.36 1.40 Dividends per Share
3.84 3.66 3.95 5.16 5.83 6.68 7.83 8.69 9.68 10.97 11.09 11.74 12.64 13.27 9.36 7.90 8.34 Book Value per Share
3.16 2.74 2.07 2.76 3.37 4.15 4.30 5.13 6.10 6.27 5.71 6.46 6.85 6.79 1.94 -0.51 0.00 Tangible Book per Share
-- -- 1.05 1.05 1.17 1.78 2.70 3.10 3.08 3.01 4.08 4.99 5.70 6.77 5.54 5.80 3.75 Total Debt per Share
20.92 19.15 17.88 28.91 21.99 22.01 23.07 15.97 15.95 25.59 25.23 28.42 30.53 31.45 42.29 55.40 41.17 Month End Stock Price
Ratios
Jul04 Jul05 Jul06 Jul07 Jul08 Jul09 Jul10 Jul11 Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 TTM Fiscal Period
16.34 23.43 23.70 26.48 24.46 16.81 18.74 14.19 16.32 18.08 13.57 15.44 17.42 14.81 0.20 30.27 30.52 Return on Equity %
12.11 16.53 14.46 15.17 14.37 9.67 10.41 7.72 8.99 10.35 7.61 8.22 9.14 7.64 0.09 11.25 11.50 Return on Assets %
182 225 210 237 263 196 251 215 294 351 313 357 398 385 442 533 552 Return on Capital %
24.31 43.62 52.96 48.06 48.33 40.56 44.90 35.85 42.74 46.05 31.46 36.04 42.04 35.66 0.41 49.30 43.56 Return on Invested Capital %
17.72 15.41 13.75 11.47 12.91 10.58 9.92 8.80 8.73 10.19 9.11 7.93 7.83 9.44 8.44 7.29 6.83 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 4.80 4.03 4.87 3.91 3.60 3.58 3.04 2.45 2.50 2.76 3.18 3.42 3.46 Effective Interest Rate on Debt %
68.61 67.22 65.82 63.96 64.10 63.94 64.04 61.40 61.24 60.57 58.91 60.38 62.87 62.96 62.04 62.94 63.97 Gross Margin %
28.56 30.01 24.88 24.92 23.89 20.45 22.89 19.61 22.51 23.25 20.71 22.89 26.25 26.52 25.68 28.02 28.02 Operating Margin %
19.96 23.15 19.59 21.00 20.36 16.98 19.40 15.02 17.46 20.54 16.66 18.27 21.81 20.02 0.22 22.39 21.44 Net Margin %
29.52 27.72 25.02 25.35 27.37 24.62 22.89 20.60 22.50 24.14 23.45 23.04 25.23 26.90 26.01 28.75 28.77 FCF Margin %
-- -- 0.27 0.20 0.20 0.27 0.35 0.36 0.32 0.27 0.37 0.43 0.45 0.51 0.59 0.74 0.45 Debt to Equity
0.73 0.68 0.55 0.59 0.59 0.57 0.55 0.54 0.56 0.58 0.54 0.53 0.52 0.51 0.40 0.34 0.39 Total Equity to Total Asset
-- -- 0.15 0.12 0.12 0.15 0.19 0.19 0.18 0.16 0.20 0.22 0.24 0.26 0.24 0.25 0.18 Total Debt to Total Asset
41.61 47.99 48.57 46.22 45.23 36.41 34.36 31.55 31.54 30.52 26.93 27.18 26.35 24.04 25.65 31.63 34.32 Gross Profit to Total Asset %
0.61 0.71 0.74 0.72 0.71 0.57 0.54 0.51 0.52 0.50 0.46 0.45 0.42 0.38 0.41 0.50 0.54 Asset Turnover
-- -- -- -- -- -- -- 0.10 0.19 0.33 0.48 0.46 0.45 0.58 62.00 0.52 0.54 Dividend Payout Ratio
30.22 32.61 42.33 41.69 35.27 32.11 44.93 39.68 34.62 41.08 39.93 39.68 43.34 39.13 41.09 38.61 30.66 Days Sales Outstanding
34.66 33.00 32.99 22.79 22.35 18.92 22.69 19.17 17.56 19.60 19.44 20.69 21.08 28.43 37.12 39.07 38.02 Days Accounts Payable
54.86 56.21 50.01 39.05 32.88 32.36 30.44 30.77 32.19 29.89 28.89 30.15 28.38 29.08 33.74 30.63 28.67 Days Inventory
50.42 55.82 59.35 57.95 45.80 45.55 52.68 51.28 49.25 51.37 49.38 49.14 50.64 39.78 37.71 30.17 21.31 Cash Conversion Cycle
6.65 6.49 7.30 9.35 11.10 11.28 11.99 11.86 11.34 12.21 12.63 12.11 12.86 12.55 10.82 11.92 12.73 Inventory Turnover
0.31 0.33 0.34 0.36 0.36 0.36 0.36 0.39 0.39 0.39 0.41 0.40 0.37 0.37 0.38 0.37 0.36 COGS to Revenue
0.05 0.05 0.05 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.04 0.03 0.03 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CSCO 2/7
Income Statement
Jul04 Jul05 Jul06 Jul07 Jul08 Jul09 Jul10 Jul11 Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 TTM Fiscal Period
22,045 24,801 28,484 34,922 39,540 36,117 40,040 43,218 46,061 48,607 47,142 49,161 49,247 48,005 49,330 51,904 51,550 Revenue
6,919 8,130 9,737 12,586 14,194 13,023 14,397 16,682 17,852 19,167 19,373 19,480 18,287 17,781 18,724 19,238 18,575 Cost of Goods Sold
15,126 16,671 18,747 22,336 25,346 23,094 25,643 26,536 28,209 29,440 27,769 29,681 30,960 30,224 30,606 32,666 32,975 Gross Profit
68.61 67.22 65.82 63.96 64.10 63.94 64.04 61.40 61.24 60.57 58.91 60.38 62.87 62.96 62.04 62.94 63.97 Gross Margin %
5,397 5,680 7,200 8,728 10,077 9,968 10,715 11,720 11,969 11,802 11,437 11,861 11,433 11,177 11,386 11,398 11,730 Selling, General, & Admin. Expense
3,192 3,322 4,067 4,499 5,325 5,208 5,273 5,823 5,488 5,942 6,294 6,207 6,296 6,059 6,332 6,577 6,648 Research & Development
242 227 393 407 499 533 491 520 383 395 275 359 303 259 221 150151 Other Operating Expense
6,295 7,442 7,087 8,702 9,445 7,385 9,164 8,473 10,369 11,301 9,763 11,254 12,928 12,729 12,667 14,541 14,446 Operating Income
28.56 30.01 24.88 24.92 23.89 20.45 22.89 19.61 22.51 23.25 20.71 22.89 26.25 26.52 25.68 28.02 28.02 Operating Margin %
-- -- -- -- 1,143 845 635 641 650 654 691 769 1,005 1,338 1,508 1,308 1,151 Interest Income
-- -- -- -- -319 -346 -623 -628 -596 -583 -564 -566 -676 -861 -943 -859 -751 Interest Expense
-- -- -- -- 824 499 12.00 13.00 54.00 71.00 127 203 329 477 565 449 400 Net Interest Income
697 594 546 759 -14.00 -191 239 -661 -264 -145 -175 -256 -337 -919 -193 -419 -307 Other Income (Expense)
6,992 8,036 7,633 9,461 10,255 7,693 9,415 7,825 10,159 11,227 9,715 11,201 12,920 12,287 13,039 14,571 14,539 Pre-Tax Income
-2,024 -2,295 -2,053 -2,128 -2,203 -1,559 -1,648 -1,335 -2,118 -1,244 -1,862 -2,220 -2,181 -2,678 -12,929 -2,950 -3,485 Tax Provision
28.95 28.56 26.90 22.49 21.48 20.27 17.50 17.06 20.85 11.08 19.17 19.82 16.88 21.80 99.16 20.25 23.97 Tax Rate %
4,968 5,741 5,580 7,333 8,052 6,134 7,767 6,490 8,041 9,983 7,853 8,981 10,739 9,609 110 11,621 11,054 Net Income (Continuing Operations)
4,401 5,741 5,580 7,333 8,052 6,134 7,767 6,490 8,041 9,983 7,853 8,981 10,739 9,609 110 11,621 11,054 Net Income
19.96 23.15 19.59 21.00 20.36 16.98 19.40 15.02 17.46 20.54 16.66 18.27 21.81 20.02 0.22 22.39 21.44 Net Margin %
0.64 0.88 0.91 1.21 1.35 1.05 1.36 1.17 1.50 1.87 1.50 1.76 2.13 1.92 0.02 2.63 2.59 EPS (Basic)
0.62 0.87 0.89 1.17 1.31 1.05 1.33 1.17 1.49 1.86 1.49 1.75 2.11 1.90 0.02 2.61 2.56 EPS (Diluted)
7,057 6,612 6,272 6,265 6,163 5,857 5,848 5,563 5,404 5,380 5,281 5,146 5,088 5,049 4,881 4,453 4,260 Shares Outstanding (Diluted
Average)
1,443 1,009 1,293 1,413 1,744 1,768 2,030 2,486 2,208 2,460 2,439 2,442 2,150 2,286 2,192 1,897 1,863 Depreciation, Depletion and
Amortization
7,738 8,451 8,380 10,115 12,318 9,807 12,068 10,939 12,963 14,270 12,718 14,209 15,746 15,434 16,174 17,327 17,153 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CSCO 3/7
Balance Sheet
Jul04 Jul05 Jul06 Jul07 Jul08 Jul09 Jul10 Jul11 Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 TTM Fiscal Period
3,722 4,742 3,297 3,728 5,191 5,718 4,581 7,662 9,799 7,925 6,726 6,877 7,631 11,708 8,934 11,750 8,475 Cash And Cash Equivalents
4,947 11,313 14,517 18,538 21,044 29,283 35,280 36,923 38,917 42,685 45,348 53,539 58,125 58,784 37,614 21,663 18,587 Marketable Securities
8,669 16,055 17,814 22,266 26,235 35,001 39,861 44,585 48,716 50,610 52,074 60,416 65,756 70,492 46,548 33,413 27,062 Cash, Cash Equivalents,
Marketable Securities
1,825 2,216 3,303 3,989 3,821 3,177 4,929 4,698 4,369 5,470 5,157 5,344 5,847 5,146 5,554 5,491 4,330 Accounts Receivable
58.00 82.00 131 173 349 316 430 401 340 361 350 372 327 589 681 599 596 Inventories, Raw Materials &
Components
416 431 377 45.00 53.00 33.00 50.00 52.00 35.00 24.00 5.00 2.00 -- 1.00 -- 10.00 12.00 Inventories, Work In Process
522 569 659 858 833 692 847 962 1,227 1,052 1,201 1,203 872 1,003 1,132 752 726 Inventories, Finished Goods
211 215 204 246 -- 33.00 -- 71.00 61.00 39.00 35.00 50.00 18.00 23.00 33.00 22.00 19.00 Inventories, Other
1,207 1,297 1,371 1,322 1,235 1,074 1,327 1,486 1,663 1,476 1,591 1,627 1,217 1,616 1,846 1,383 1,353 Total Inventories
2,642 2,442 3,188 3,997 4,408 4,925 3,001 3,351 3,524 3,928 4,139 1,490 1,627 1,593 2,940 2,373 2,481 Other Current Assets
14,343 22,010 25,676 31,574 35,699 44,177 51,421 57,231 61,933 65,521 67,114 73,368 78,719 83,703 61,837 47,755 40,053 Total Current Assets
-- -- -- -- -- -- -- 796 858 833 899 -- -- -- -- -- -- Investments And Advances
3,429 3,492 3,647 4,022 4,445 4,618 4,470 -- -- -- -- -- -- -- -- -- -- Land And Improvements
4,119 4,694 5,393 6,263 7,048 7,363 6,583 7,013 7,320 7,634 7,690 7,560 7,489 7,537 7,177 7,009 6,488 Machinery, Furniture, Equipment
7,642 8,322 9,193 10,466 11,702 12,208 11,308 12,066 11,983 12,386 12,520 12,427 12,563 12,819 12,243 12,039 11,337 Gross Property, Plant and
Equipment
-4,352 -5,002 -5,753 -6,573 -7,551 -8,165 -7,367 -8,150 -8,581 -9,064 -9,268 -9,095 -9,057 -9,497 -9,237 -9,250 -8,716 Accumulated Depreciation
3,290 3,320 3,440 3,893 4,151 4,043 3,941 3,916 3,402 3,322 3,252 3,332 3,506 3,322 3,006 2,789 2,621 Property, Plant and Equipment
4,523 5,844 11,388 14,661 14,481 14,627 19,948 19,359 18,957 25,322 27,519 26,845 29,126 32,305 34,258 35,730 35,518 Intangible Assets
-- -- 9,227 12,121 12,392 12,925 16,674 16,818 16,998 21,919 24,239 24,469 26,625 29,766 31,706 33,529 33,612 Goodwill
13,438 2,709 2,811 3,212 4,403 5,281 5,820 5,793 6,609 6,193 6,286 9,828 10,301 10,488 9,683 11,519 12,234 Other Long Term Assets
35,594 33,883 43,315 53,340 58,734 68,128 81,130 87,095 91,759 101,191 105,070 113,373 121,652 129,818 108,784 97,793 90,426 Total Assets
657 735 880 786 869 675 895 876 859 1,029 1,032 1,104 1,056 1,385 1,904 2,059 1,935 Accounts Payable
-- -- -- -- 107 166 90.00 120 276 192 159 62.00 517 98.00 1,004 1,149 819 Total Tax Payable
4,213 4,146 5,161 6,227 3,404 3,376 4,114 996 1,135 1,221 1,191 1,166 1,573 1,483 2,908 3,208 2,754 Accounts Payable & Accrued
Expense
-- -- -- -- 500 -- 3,096 588 31.00 3,283 508 3,897 4,160 7,992 5,238 10,191 1,499 Current Portion of Long-Term Debt
3,527 3,854 4,408 5,391 6,197 6,438 7,664 8,025 8,852 9,262 9,478 9,824 10,155 10,821 11,490 10,668 10,638 Current Deferred Revenue
3,527 3,854 4,408 5,391 6,197 6,438 7,664 8,025 8,852 9,262 9,478 9,824 10,155 10,821 11,490 10,668 10,638 DeferredTaxAndRevenue
963 1,511 1,744 1,740 3,757 3,841 4,359 7,897 7,713 8,230 8,632 8,525 9,023 7,287 7,399 7,645 7,197 Other Current Liabilities
8,703 9,511 11,313 13,358 13,858 13,655 19,233 17,506 17,731 21,996 19,809 23,412 24,911 27,583 27,035 31,712 22,088 Total Current Liabilities
-- -- 6,332 6,408 6,393 10,295 12,188 16,234 16,297 12,928 20,337 21,457 24,483 25,725 20,331 14,475 14,494 Long-Term Debt
-- -- 6,332 6,408 6,393 10,295 12,188 16,234 16,297 12,928 20,337 21,457 24,483 25,725 20,331 14,475 14,494 Long-Term Debt & Capital Lease
Obligation
-- -- 0.27 0.20 0.20 0.27 0.35 0.36 0.32 0.27 0.37 0.43 0.45 0.51 0.59 0.74 0.45 Debt to Equity
-- -- -- -- 2,663 4,962 3,419 4,182 4,028 4,161 4,664 5,359 6,317 7,673 8,195 7,799 8,048 NonCurrent Deferred Liabilities
90.00 10.00 6.00 10.00 49.00 30.00 18.00 33.00 15.00 8.00 7.00 9.00 -1.00 -- -- -- -- Minority Interest
975 1,188 1,752 2,084 1,418 539 2,005 1,914 2,402 2,978 3,599 3,438 2,356 2,700 10,019 10,236 10,263 Other Long-Term Liabilities
9,678 10,699 19,397 21,850 24,332 29,451 36,845 39,836 40,458 42,063 48,409 53,666 58,067 63,681 65,580 64,222 54,893 Total Liabilities
22,450 22,394 -- -- 33,505 34,344 37,793 38,648 39,271 42,297 41,884 43,592 44,516 45,253 42,820 40,266 40,617 Common Stock
3,164 506 -617 231 120 3,868 5,851 7,284 11,354 16,215 14,093 16,045 19,396 20,838 1,233 -5,903 -4,384 Retained Earnings
212 274 272 562 728 435 623 1,294 661 608 677 61.00 -326 46.00 -849 -792 -700 Accumulated other comprehensive
income (loss)
-- -- 24,257 30,687 -- -- -- -- -- -- -- -- -- -- -- -- -- Additional Paid-In Capital
25,826 23,174 23,912 31,480 34,353 38,647 44,267 47,226 51,286 59,120 56,654 59,698 63,586 66,137 43,204 33,571 35,533 Total Equity
0.73 0.68 0.55 0.59 0.59 0.57 0.55 0.54 0.56 0.58 0.54 0.53 0.52 0.51 0.40 0.34 0.39 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CSCO 4/7
Cashflow Statement
Jul04 Jul05 Jul06 Jul07 Jul08 Jul09 Jul10 Jul11 Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 TTM Fiscal Period
4,401 5,741 5,580 7,333 8,052 6,134 7,767 6,490 8,041 9,983 7,853 8,981 10,739 9,609 110 11,621 11,054 Net Income
4,401 5,741 5,580 7,333 8,052 6,134 7,767 6,490 8,041 9,983 7,853 8,981 10,739 9,609 110 11,621 11,054 Net Income From Continuing
Operations
1,443 1,009 1,293 1,413 1,744 1,768 2,030 2,486 2,208 2,460 2,439 2,442 2,150 2,286 2,192 1,897 1,863 Depreciation, Depletion and
Amortization
-488 -536 -1,084 -597 -317 388 -2,524 -1,318 -574 -1,724 221 -1,047 -554 -282 -488 -333 -615 Change In Receivables
-538 -305 -41.00 61.00 104 187 -158 -147 -287 218 -109 -116 315 -394 -244 131 359 Change In Inventory
-42.00 -58.00 -300 -452 -- -- -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
54.00 62.00 -43.00 -107 591 735 139 -28.00 -7.00 164 -23.00 87.00 -65.00 311 504 87.00 257 Change In Payables And Accrued
Expense
-451 411 480 2,056 2,432 1,163 -342 -165 -198 -493 1,708 -36.00 -128 586 9,344 1,077 1,202 Change In Working Capital
552 55.00 -343 -622 -772 -574 -477 -157 -314 -37.00 -678 -23.00 -194 -124 900 -350 35.00 Change In DeferredTax
-- -- -- -- 1,112 1,231 1,517 1,620 1,401 1,120 1,348 1,440 1,458 1,526 1,576 1,570 1,557 Stock Based Compensation
1,176 352 889 -76.00 -479 175 -322 -195 353 -139 -338 -252 -455 -7.00 -456 16.00 -53.00 Cash Flow from Others
7,121 7,568 7,899 10,104 12,089 9,897 10,173 10,079 11,491 12,894 12,332 12,552 13,570 13,876 13,666 15,831 15,658 Cash Flow from Operations
-613 -692 -772 -1,251 -1,268 -1,005 -1,008 -1,174 -1,126 -1,160 -1,275 -1,227 -1,146 -964 -834 -909 -827 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -- -- -- 50.00 141 232 22.00 41.00 7.00 59.00 22.00 143 Sale Of Property, Plant, Equipment
-- -- -- -- -398 -426 -5,416 -470 -755 -6,991 -3,373 -548 -3,417 -3,546 -3,246 -2,323 -916 Purchase Of Business
-- -- -- -- -- -- 58.00 163 242 209 213 288 463 203 168 159 207 Sale Of Business
-33,054 -20,314 -21,918 -20,624 -22,500 -41,314 -48,690 -37,130 -41,782 -36,608 -36,317 -43,975 -46,760 -42,702 -14,285 -2,416 -5,989 Purchase Of Investment
34,327 24,630 18,480 17,368 19,990 32,825 42,997 35,655 39,440 32,708 33,853 35,530 42,893 40,970 33,475 20,316 18,452 Sale Of Investment
-194 -1,010 -5,434 -3,835 -17.00 -39.00 128 22.00 116 -67.00 24.00 -178 -191 -4.00 -19.00 -12.00 -10.00 Cash From Other Investing Activities
466 2,614 -9,644 -8,342 -4,193 -9,959 -11,931 -2,934 -3,815 -11,768 -6,643 -10,088 -8,117 -6,036 15,318 14,837 11,060 Cash Flow from Investing
1,257 1,087 1,682 5,306 3,117 863 3,278 1,831 1,372 3,338 1,907 2,016 1,127 708 623 640 662 Issuance of Stock
-9,080 -10,235 -8,295 -7,681 -10,441 -3,611 -7,864 -6,896 -4,760 -3,103 -9,843 -4,826 -4,466 -4,304 -18,250 -21,579 -13,088 Repurchase of Stock
-- -- 6,481 -- 432 3,449 4,985 1,508 -557 -12.00 4,703 4,469 3,111 5,326 -8,000 -1,084 -8,690 Net Issuance of Debt
-- -- -- -- -- -- -- -658 -1,501 -3,310 -3,758 -4,086 -4,750 -5,511 -5,968 -5,979 -5,981 Cash Flow for Dividends
33.00 -14.00 432 1,044 459 -112 222 151 -93.00 87.00 103 114 279 -25.00 -169 113 -1,001 Other Financing
-7,790 -9,162 300 -1,331 -6,433 589 621 -4,064 -5,539 -3,000 -6,888 -2,313 -4,699 -3,806 -31,764 -27,889 -28,098 Cash Flow from Financing
-203 1,020 -1,445 431 1,463 527 -1,137 3,081 2,137 -1,874 -1,199 151 754 4,034 -2,780 2,779 -1,380 Net Change in Cash
-613 -692 -772 -1,251 -1,268 -1,005 -1,008 -1,174 -1,126 -1,160 -1,275 -1,227 -1,146 -964 -834 -909 -827 Capital Expenditure
6,508 6,876 7,127 8,853 10,821 8,892 9,165 8,905 10,365 11,734 11,057 11,325 12,424 12,912 12,832 14,922 14,831 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CSCO 5/7
Valuation Ratios
Jul04 Jul05 Jul06 Jul07 Jul08 Jul09 Jul10 Jul11 Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 TTM Fiscal Period
34.30 22.01 20.09 24.50 16.79 20.96 17.35 13.77 10.70 13.76 16.93 16.43 14.40 16.47 604 21.31 16.08 PE Ratio(TTM)
32.84 22.22 18.96 19.30 12.58 16.93 16.55 11.46 9.80 12.75 12.75 14.22 13.53 14.05 17.81 17.87 13.26 Price to Owner Earnings
(TTM)
5.46 5.23 4.53 5.60 3.77 3.29 2.95 1.84 1.65 2.33 2.27 2.42 2.41 2.37 4.52 7.01 4.94 Price to Book
6.61 7.00 8.65 10.49 6.52 5.30 5.37 3.11 2.61 4.08 4.42 4.40 4.46 4.63 21.81 -- 10,293 Price to Tangible Book
21.22 17.02 15.70 20.45 12.51 14.54 14.70 9.96 8.32 11.74 12.03 12.91 12.49 12.28 16.15 16.51 11.97 Price-to-Free-Cash-Flow
Ratio
20.71 16.68 14.18 17.91 11.19 13.07 13.24 8.80 7.51 10.69 10.78 11.64 11.44 11.43 15.16 15.56 11.34 Price-to-Operating-Cash-
Flow Ratio
6.70 5.10 3.93 5.18 3.42 3.58 3.37 2.06 1.87 2.83 2.83 2.97 3.15 3.30 4.20 4.75 3.44 PS Ratio
2.31 0.78 0.45 1.47 1.08 1.70 1.85 1.92 1.98 1.81 1.93 2.72 1.93 2.84 96.20 2.62 1.83 PEG Ratio
6.00 4.24 3.40 4.60 2.79 2.84 2.64 1.37 1.13 2.13 2.07 2.23 2.36 2.50 3.53 4.37 3.17 EV-to-Revenue
17.10 12.45 11.56 15.87 9.21 10.47 8.78 5.40 4.02 7.25 7.68 7.70 7.39 7.77 10.77 13.08 9.53 EV-to-EBITDA
21.02 14.14 13.67 18.44 10.78 12.77 10.55 6.99 4.85 8.76 9.50 9.30 8.56 9.12 12.46 14.69 10.70 EV-to-EBIT
4.76 7.07 7.32 5.42 9.28 7.83 9.48 14.31 20.62 11.42 10.53 10.75 11.68 10.96 8.03 6.81 9.35 Return on Capital %
16.38 23.97 24.88 20.22 21.21 18.62 15.79 16.95 15.84 14.54 16.07 13.07 14.52 13.07 11.95 12.87 14.40 Forward Rate of Return
74.26 52.03 39.26 50.99 31.14 28.81 26.82 15.92 14.00 19.93 18.28 19.64 19.48 19.08 27.33 32.29 23.16 Shiller PE Ratio
-- -- -- -- -- -- -- 0.75 1.76 2.42 2.85 2.81 3.08 3.50 2.93 2.45 3.41 Dividend Yield %
Valuation and Quality
Jul04 Jul05 Jul06 Jul07 Jul08 Jul09 Jul10 Jul11 Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 TTM Fiscal Period
140,896 121,239 108,335 176,351 129,587 127,328 130,461 86,797 84,503 137,905 128,850 144,516 153,535 156,715 195,126 235,450 174,597 Market Cap
132,317 105,194 96,859 160,503 110,294 102,652 105,902 59,067 52,130 103,514 97,628 109,463 116,421 119,940 174,147 226,703 163,528 Enterprise Value
20.92 19.15 17.88 28.91 21.99 22.01 23.07 15.97 15.95 25.59 25.23 28.42 30.53 31.45 42.29 55.40 41.17 Month End Stock Price
-0.16 0.84 -0.26 0.07 0.31 0.95 0.53 0.87 1.56 1.58 0.72 1.33 1.53 1.37 -4.12 -7.25 -6.53 Net Cash (per share)
0.68 1.79 1.04 1.59 1.92 2.54 2.57 3.19 4.05 4.35 3.66 3.87 4.11 4.02 -0.81 -3.87 -3.48 Net Current Asset Value
(per share)
0.13 1.21 0.26 0.67 0.91 1.46 1.30 1.65 2.33 2.48 1.63 2.27 2.52 2.30 -3.02 -6.12 -5.61 Net-Net Working Capital
(per share)
10.35 11.08 13.53 19.27 23.26 26.64 27.90 27.65 28.66 30.91 32.25 32.01 33.04 32.71 30.95 38.32 39.12 Projected FCF (per share)
27.41 32.48 35.24 36.72 37.78 34.16 36.09 39.27 38.91 36.39 30.76 28.71 27.94 27.45 29.04 35.02 35.91 Median PS (per share)
9.07 21.75 22.25 19.62 20.28 12.96 12.46 8.31 8.05 14.15 13.07 10.43 15.82 11.08 0.44 21.11 19.81 Peter Lynch Fair Value (per
share)
7.06 7.32 6.43 8.52 9.97 9.90 11.34 11.62 14.30 16.20 13.83 15.95 18.04 17.04 0.93 -- 0.48 Graham Number (per share)
4.47 6.49 9.22 12.48 15.25 17.61 18.91 21.60 23.82 25.08 26.72 28.35 30.64 31.63 24.59 26.62 27.99 Earnings Power Value
(EPV)
10.32 8.78 4.97 6.50 4.91 4.13 3.60 2.79 2.89 3.57 3.10 3.12 3.11 2.92 3.06 3.36 3.21 Altman Z-Score
8.00 8.00 6.00 6.00 7.00 5.00 7.00 5.00 7.00 6.00 5.00 7.00 7.00 6.00 5.00 8.00 8.00 Piotroski F-Score
-2.61 -2.75 -2.37 -2.48 -2.84 -2.94 -2.17 -2.69 -2.69 -2.31 -2.73 -2.61 -2.50 -2.72 -2.91 -2.61 -2.49 Beneish M-Score
0.47 0.20 0.37 0.36 0.28 0.24 0.29 0.24 0.22 0.27 0.25 0.24 0.23 0.24 0.17 0.23 0.26 Scaled Net Operating
Assets
-8.95 -13.11 16.91 10.44 0.27 9.09 11.74 -0.75 0.40 8.75 2.06 5.75 4.35 1.36 -26.54 -19.48 -17.32 Sloan Ratio (%)
1.65 2.31 2.27 2.36 2.58 3.24 2.67 3.27 3.49 2.98 3.39 3.13 3.16 3.03 2.29 1.51 1.81 Current Ratio
1.51 2.18 2.15 2.26 2.49 3.16 2.60 3.18 3.40 2.91 3.31 3.06 3.11 2.98 2.22 1.46 1.75 Quick Ratio
29.13 21.24 22.00 30.26 34.08 24.91 27.57 24.77 21.19 25.94 26.38 30.19 30.88 34.44 46.30 58.05 58.26 Highest Stock Price
17.53 17.02 16.93 17.24 21.04 13.62 20.73 14.84 13.73 15.74 20.24 22.82 22.51 29.25 30.37 40.28 38.35 Lowest Stock Price
3.76 6.00 4.30 -0.68 3.39 1.83 2.25 3.89 2.52 -1.72 5.23 0.43 1.10 0.91 7.41 7.89 3.71 Shares Buyback Ratio (%)
19.51 20.07 21.06 22.75 15.11 -3.90 11.04 13.47 9.72 5.99 -1.20 7.01 1.32 -1.77 6.30 15.33 10.62 YoY Rev. per Sh. Growth
(%)
24.00 40.32 2.30 31.46 11.97 -19.85 26.67 -12.03 27.35 24.83 -19.89 17.45 20.57 -9.95 -98.95 12,950 -7.58 YoY EPS Growth (%)
22.19 16.61 4.54 20.88 23.78 -16.26 23.30 -4.75 22.02 10.55 -9.20 14.66 12.10 -1.23 8.41 17.41 9.79 YoY EBITDA Growth (%)
13.15 28.15 44.51 16.63 15.48 12.34 9.37 7.16 5.40 7.61 8.77 6.03 7.46 5.80 6.28 8.12 8.80 EBITDA 5-Y Growth (%)
6,840 6,487 6,158 6,055 5,986 5,828 5,732 5,529 5,370 5,329 5,234 5,104 5,053 5,010 4,837 4,419 4,242 Shares Outstanding (Basic
Average)
6,735 6,331 6,059 6,100 5,893 5,785 5,655 5,435 5,298 5,389 5,107 5,085 5,029 4,983 4,614 4,250 4,242 Shares Outstanding (EOP)
2.20 1.86 1.49 1.17 1.58 1.25 1.24 1.15 1.39 1.41 1.23 1.09 1.21 1.42 1.12 1.00 1.08 Beta
09/20/04 09/19/05 09/18/06 09/18/07 09/15/08 09/11/09 09/21/10 09/14/11 09/12/12 09/10/13 09/09/14 09/08/15 09/08/16 09/07/17 09/06/18 09/05/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CSCO 6/7
09/19/05 09/18/06 09/18/06 09/18/07 09/11/09 09/21/10 09/12/12 09/10/13 09/09/14 09/08/15 09/08/16 09/07/17 09/06/18 09/05/19 09/05/19 09/05/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CSCO 7/7
Gilead Sciences Inc (NAS:GILD) 03/02/2020 4:00PM EST GuruFocus
Price: $ 75.40 +6.04(+8.71%) Market Cap: $ 95.28 B Enterprise Value: $95.64 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 17.91
Cash to Debt 0.99 Operating margin (%) 19.10
Forward P/E N/A
Equity to Asset 0.37 Net-margin (%) 23.99
PE(NRI) 17.91
Interest Coverage 4.31 ROE (%) 24.69
F-Score:
P/B 4.24
ROA (%) 8.67
8 P/S 4.28
Z-Score: ROC (Joel Greenblatt) (%) 144.82
3.00 PFCF 11.54
Revenue Growth (3Y)(%) -7.70
M-Score: POCF 10.51
-2.76 EBITDA Growth (3Y)(%) -25.20
EV-to-EBIT 15.54
WACC vs 7.17% EPS Growth (3Y)(%) -24.80
ROIC 20.91% Shiller P/E 14.62
WACC
ROIC Current Ratio 3.10
Quick Ratio 3.01
Days Inventory 68.71
Days Sales Outstanding 58.24
Warning Signs Quarterly Revenues Company Description
Price: Close to 2-year high Mar Jun Sep Dec Full Year Gilead Sciences develops and markets therapies to treat life-threatening infectious diseases, with the core of its
portfolio focused on HIV and hepatitis B and C. The acquisitions of Corus Pharma, Myogen, CV Therapeutics, Arresto
2016 7,794 7,776 7,500 7,320 30,390 Biosciences, and Calistoga have broadened this focus to include pulmonary and cardiovascular diseases and cancer.
PS Ratio: Close to 3-year high Gilead's acquisition of Pharmasset brought rights to hepatitis C drug Sovaldi, which is also part of combination drug
2017 6,505 7,141 6,512 5,949 26,107
Harvoni, and the Kite acquisition boosted Gilead's exposure to cell therapy in oncology.... (Read More)
Tax Rate: Tax Rate is too low 2018 5,088 5,648 5,596 5,795 22,127
Competitors: XTER:BAYA, NAS:CELG, LSE:GSK, TSE:4519 , NAS:BIIB, NYSE:ACT, SHSE:600276 ,
2019 5,281 5,685 5,604 5,879 22,449 XPAR:SAN, LSE:AZN, NAS:AMGN, TSE:4568, NYSE:LLY, NYSE:ABBV, TSE:4503, NYSE:BMY, XMAD:GRF,
Insider Sell: Insider Selling
2020 TSE:4578, HKSE:01093, TSE:4151, TSE:4528
Quarterly Earnings per Share Insider Trades
Good Signs
Mar Jun Sep Dec Full Year
Piotroski F-Score: High 2016 2.53 2.58 2.49 2.34 9.94
2017 2.05 2.33 2.06 -2.96 3.48
DCF 2018 1.17 1.39 1.60 0.00 4.16
2019 1.54 1.47 -0.92 2.12 4.21
GuruFocus does not 2020
calculate intrinsic value: DCF
(Earnings Based) for Quarterly Dividends Per Share
companies with one star Mar Jun Sep Dec Full Year
predictability or not rated. But 2016 0.43 0.47 0.47 0.47 1.84
you can go to each stock's 2017 0.52 0.52 0.52 0.52 2.08
DCF page to calculate 2018 0.57 0.57 0.57 0.57 2.28
yourself. 2019 0.63 0.63 0.63 0.63 2.52
2020
Reverse DCF Growth Rate
GuruFocus does not Annual Rates(per share) 10-Y 5-Y 12-M
calculate reverse DCF growth
rate for companies with one Revenue Growth (%) 20.70 -0.20 3.90
star predictability or not rated. EBITDA Growth (%) 19.50 -12.70 -24.90
But you can go to each Free Cash Flow Growth (%) 22.50 -9.70 14.00
stock's DCF page to calculate
Book Value Growth (%) 20.10 10.70 6.70
yourself.
EPS Growth (%) 16.40 -18.00 1.20
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GILD 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
0.71 1.07 1.65 2.19 2.78 3.75 4.55 5.31 6.13 6.61 15.11 21.46 22.38 19.79 16.92 17.58 17.61 Revenue per Share
0.35 0.60 0.92 1.15 1.51 2.03 2.46 2.63 2.69 2.87 9.91 15.41 14.15 12.08 7.88 5.92 5.91 EBITDA per Share
0.34 0.59 0.89 1.12 1.43 1.91 2.30 2.44 2.51 2.66 9.27 14.69 13.30 11.11 6.79 4.82 4.81 EBIT per Share
0.25 0.43 -0.65 0.84 1.03 1.41 1.66 1.77 1.64 1.81 7.35 11.91 9.94 3.51 4.17 4.22 4.21 Earnings per Share (diluted)
0.25 0.43 -0.65 0.84 1.03 1.41 1.66 1.77 1.64 1.81 7.35 11.91 9.94 3.51 4.17 4.22 4.21 eps without NRI
0.26 0.26 -0.77 0.78 1.01 1.49 1.52 2.21 1.78 1.69 7.90 13.58 11.78 7.91 4.33 2.52 2.52 Owner Earnings per Share (TTM)
0.25 0.35 0.61 0.88 1.06 1.53 1.59 2.22 1.77 1.72 7.44 13.48 12.00 8.57 5.72 6.51 6.53 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- 1.29 1.84 2.08 2.28 2.52 2.52 Dividends per Share
1.04 1.65 0.98 1.86 2.35 3.54 3.66 4.47 6.12 7.41 10.29 13.03 14.42 15.63 16.68 17.80 17.80 Book Value per Share
1.04 1.65 0.98 1.86 2.28 2.69 2.77 3.10 -2.30 -1.11 2.12 5.00 6.68 -0.63 1.20 3.65 3.65 Tangible Book per Share
-- 0.16 0.77 0.71 0.64 0.69 2.17 5.05 5.41 4.33 8.28 15.51 20.11 25.64 21.31 19.44 19.44 Total Debt per Share
8.75 13.14 16.23 23.01 25.57 21.64 18.12 20.47 36.73 75.10 94.26 101 71.61 71.64 62.55 64.98 75.40 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
31.27 33.23 -49.14 61.24 51.18 49.55 47.44 44.49 32.32 29.75 90.32 107 72.16 23.53 26.08 24.53 24.69 Return on Equity %
24.22 27.49 -30.31 32.56 30.99 31.69 27.25 19.41 13.45 14.04 42.28 41.93 24.84 7.27 8.14 8.60 8.67 Return on Assets %
110 187 189 162 163 188 180 162 173 194 484 596 565 476 243 145 145 Return on Capital %
68.25 95.06 181 50.64 52.34 53.28 43.01 47.92 27.91 20.44 72.16 83.09 46.08 15.55 24.27 21.39 20.91 Return on Invested Capital %
8.62 8.51 7.89 9.96 5.49 6.27 5.39 4.58 5.03 8.60 8.91 8.81 7.02 6.36 8.26 7.52 7.17 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.28 5.78 4.60 3.70 4.56 4.13 4.33 3.99 3.98 3.73 3.54 3.83 3.85 Effective Interest Rate on Debt %
87.42 87.17 85.68 81.83 78.87 77.24 76.48 74.67 74.53 74.48 84.78 87.73 85.98 83.26 78.07 79.18 79.18 Gross Margin %
47.36 54.68 54.04 51.17 50.40 50.34 49.84 45.20 41.33 40.39 61.33 68.00 58.02 54.10 37.06 19.10 19.10 Operating Margin %
33.92 40.13 -39.32 38.19 37.09 37.59 36.50 33.43 26.72 27.45 48.62 55.48 44.43 17.73 24.65 23.99 23.99 Net Margin %
34.47 32.42 36.77 39.88 38.01 40.65 34.87 41.82 28.84 26.02 49.26 62.82 53.63 43.31 33.79 37.06 37.06 FCF Margin %
-- 0.10 0.78 0.38 0.27 0.20 0.59 1.13 0.88 0.58 0.80 1.19 1.40 1.64 1.28 1.09 1.09 Debt to Equity
0.87 0.80 0.44 0.59 0.62 0.66 0.51 0.39 0.44 0.50 0.45 0.36 0.33 0.29 0.34 0.37 0.37 Total Equity to Total Asset
-- 0.08 0.35 0.23 0.17 0.13 0.30 0.44 0.39 0.29 0.36 0.43 0.46 0.48 0.43 0.40 0.40 Total Debt to Total Asset
62.42 59.71 66.04 69.78 65.90 65.11 57.11 43.33 37.52 38.08 73.73 66.30 48.08 34.16 25.79 28.37 28.62 Gross Profit to Total Asset %
0.71 0.69 0.77 0.85 0.84 0.84 0.75 0.58 0.50 0.51 0.87 0.76 0.56 0.41 0.33 0.36 0.36 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- 0.11 0.19 0.59 0.55 0.60 0.60 Dividend Payout Ratio
102 71.28 73.49 68.61 70.01 72.34 74.47 84.93 65.89 71.10 67.97 65.46 54.22 53.84 54.88 58.24 58.24 Days Sales Outstanding
104 99.42 309 138 195 185 157 207 196 160 92.02 107 103 67.97 59.42 55.67 55.67 Days Accounts Payable
256 247 329 276 247 226 220 223 232 220 149 152 152 99.70 60.73 67.77 68.71 Days Inventory
255 219 93.28 207 123 113 138 101 101 130 124 110 103 85.57 56.19 70.34 71.28 Cash Conversion Cycle
1.42 1.48 1.11 1.32 1.48 1.61 1.66 1.64 1.58 1.66 2.46 2.40 2.41 3.66 6.01 5.39 5.31 Inventory Turnover
0.13 0.13 0.14 0.18 0.21 0.23 0.24 0.25 0.25 0.26 0.15 0.12 0.14 0.17 0.22 0.21 0.21 COGS to Revenue
0.09 0.09 0.13 0.14 0.14 0.14 0.14 0.16 0.16 0.15 0.06 0.05 0.06 0.05 0.04 0.04 0.04 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GILD 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,325 2,028 3,026 4,230 5,336 7,011 7,949 8,385 9,702 11,202 24,890 32,639 30,390 26,107 22,127 22,449 22,449 Revenue
167 260 433 769 1,127 1,596 1,870 2,124 2,471 2,859 3,788 4,006 4,261 4,371 4,853 4,675 4,675 Cost of Goods Sold
1,158 1,768 2,593 3,461 4,209 5,416 6,080 6,261 7,231 8,343 21,102 28,633 26,129 21,736 17,274 17,774 17,774 Gross Profit
87.42 87.17 85.68 81.83 78.87 77.24 76.48 74.67 74.53 74.48 84.78 87.73 85.98 83.26 78.07 79.18 79.18 Gross Margin %
307 381 574 706 797 947 1,044 1,242 1,461 1,699 2,983 3,426 3,398 3,878 4,056 4,381 4,381 Selling, General, & Admin. Expense
224 278 384 591 722 940 1,073 1,229 1,760 2,120 2,854 3,014 5,098 3,734 5,018 9,106 9,106 Research & Development
0.00 -- 0.00 -- -- -- -0.00 0.00 -- -- -- -- -- -- -- -- -- Other Operating Expense
627 1,109 1,635 2,165 2,689 3,529 3,962 3,790 4,010 4,524 15,265 22,193 17,633 14,124 8,200 4,287 4,287 Operating Income
47.36 54.68 54.04 51.17 50.40 50.34 49.84 45.20 41.33 40.39 61.33 68.00 58.02 54.10 37.06 19.10 19.10 Operating Margin %
-- -- -- -- 59.40 42.40 60.29 66.58 -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -- -65.24 -69.66 -109 -205 -361 -307 -412 -688 -964 -1,118 -1,077 -995 -995 Interest Expense
-- -- -- -- -5.84 -27.27 -109 -205 -361 -307 -412 -688 -964 -1,118 -1,077 -995 -995 Net Interest Income
29.04 52.72 -2,274 106 -10.85 -- 60.29 66.58 -37.00 -9.00 3.00 154 428 523 676 1,868 1,868 Other Income (Expense)
-- 4.00 6.27 9.11 8.56 10.16 11.51 14.58 18.00 18.00 42.00 2.00 13.00 -16.00 -5.00 22.00 22.00 Other Income (Minority Interest)
656 1,162 -638 2,270 2,673 3,502 3,914 3,651 3,612 4,208 14,856 21,659 17,097 13,529 7,799 5,160 5,160 Pre-Tax Income
-207 -348 -552 -655 -702 -876 -1,024 -862 -1,038 -1,151 -2,797 -3,553 -3,609 -8,885 -2,339 204 204 Tax Provision
31.54 29.94 -86.45 28.85 26.28 25.02 26.16 23.61 28.74 27.35 18.83 16.40 21.11 65.67 29.99 -3.95 -3.95 Tax Rate %
449 814 -1,190 1,615 1,970 2,626 2,890 2,789 2,574 3,057 12,059 18,106 13,488 4,644 5,460 5,364 5,364 Net Income (Continuing Operations)
449 814 -1,190 1,615 1,979 2,636 2,901 2,804 2,592 3,075 12,101 18,108 13,501 4,628 5,455 5,386 5,386 Net Income
33.92 40.13 -39.32 38.19 37.09 37.59 36.50 33.43 26.72 27.45 48.62 55.48 44.43 17.73 24.65 23.99 23.99 Net Margin %
0.26 0.45 -0.65 0.87 1.08 1.46 1.69 1.81 1.71 2.01 7.95 12.37 10.08 3.54 4.20 4.24 4.24 EPS (Basic)
0.25 0.43 -0.65 0.84 1.03 1.41 1.66 1.77 1.64 1.81 7.35 11.91 9.94 3.51 4.17 4.22 4.21 EPS (Diluted)
1,857 1,897 1,836 1,929 1,918 1,868 1,747 1,580 1,583 1,695 1,647 1,521 1,358 1,319 1,308 1,277 1,274 Shares Outstanding (Diluted
Average)
24.41 35.78 47.28 51.28 156 213 265 302 278 345 1,050 1,098 1,158 1,286 1,429 1,404 1,404 Depreciation, Depletion and
Amortization
652 1,145 1,683 2,216 2,894 3,785 4,288 4,159 4,251 4,860 16,318 23,445 19,219 15,933 10,305 7,559 7,559 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GILD 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
281 708 816 968 1,459 1,273 908 9,884 1,804 2,113 10,027 12,851 8,229 7,588 17,940 11,631 11,631 Cash And Cash Equivalents
973 1,603 121 204 331 384 1,191 16.49 58.56 19.00 101 1,756 3,666 17,922 12,149 12,721 12,721 Marketable Securities
1,254 2,311 937 1,172 1,790 1,657 2,099 9,900 1,862 2,132 10,128 14,607 11,895 25,510 30,089 24,352 24,352 Cash, Cash Equivalents, Marketable
Securities
371 396 609 795 1,023 1,390 1,622 1,951 1,751 2,182 4,635 5,854 4,514 3,851 3,327 3,582 3,582 Accounts Receivable
93.94 148 362 245 505 334 408 698 827 -- -- -- -- -- -- -- -- Inventories, Raw Materials &
Components
11.10 25.06 46.16 137 140 392 455 466 359 -- -- -- -- -- -- -- -- Inventories, Work In Process
30.95 43.89 156 219 282 326 341 226 560 -- -- -- -- -- -- -- -- Inventories, Finished Goods
0.00 -- -- -- 0.00 -- -- -- -- 1,697 1,386 1,955 1,587 801 814 922 922 Inventories, Other
136 217 564 600 928 1,052 1,204 1,390 1,745 1,697 1,386 1,955 1,587 801 814 922 922 Total Inventories
88.42 168 319 461 537 714 784 677 798 986 1,565 2,346 1,592 1,661 1,606 1,440 1,440 Other Current Assets
1,850 3,092 2,429 3,028 4,278 4,813 5,708 13,919 6,156 6,997 17,714 24,762 19,588 31,823 35,836 30,296 30,296 Total Current Assets
-- -- -- -- 1,450 2,248 3,219 63.70 720 439 1,598 11,601 20,485 11,184 1,423 1,488 1,488 Investments And Advances
45.06 45.06 54.60 65.98 66.32 138 138 149 196 196 254 393 394 396 404 404 404 Land And Improvements
178 201 256 334 348 491 501 500 670 835 997 1,320 1,713 2,176 2,344 3,358 3,358 Buildings And Improvements
95.19 113 172 237 280 318 296 412 439 508 632 772 935 1,027 1,255 1,439 1,439 Machinery, Furniture, Equipment
11.97 13.82 39.39 12.51 81.19 58.45 82.33 60.75 216 129 411 554 641 690 1,194 723 723 Construction In Progress
330 373 522 649 776 1,005 1,018 1,133 1,524 1,668 2,294 3,039 3,683 4,289 5,197 5,924 5,924 Gross Property, Plant and Equipment
-107 -131 -161 -201 -247 -305 -316 -358 -423 -502 -620 -763 -818 -994 -1,191 -1,422 -1,422 Accumulated Depreciation
223 243 361 448 529 700 701 774 1,100 1,166 1,674 2,276 2,865 3,295 4,006 4,502 4,502 Property, Plant and Equipment
-- -- -- -- 123 1,525 1,426 2,067 12,797 13,069 12,245 11,419 10,143 21,259 19,855 17,903 17,903 Intangible Assets
-- -- -- -- 123 1,525 533 1,004 1,061 1,169 1,172 1,172 1,172 4,159 4,117 4,117 4,117 Goodwill
83.16 432 1,295 2,359 557 413 538 479 466 908 1,433 1,658 3,896 2,722 2,555 7,438 7,438 Other Long Term Assets
2,156 3,766 4,086 5,835 6,937 9,699 11,593 17,303 21,240 22,579 34,664 51,716 56,977 70,283 63,675 61,627 61,627 Total Assets
47.55 70.91 367 290 601 811 803 1,206 1,327 1,256 955 1,178 1,206 814 790 713 713 Accounts Payable
-- -- -- -- 44.76 168 1.86 40.58 13.40 11.00 105 -- 186 713 190 287 287 Total Tax Payable
233 291 701 705 1,172 1,743 1,568 2,265 2,761 3,356 4,828 8,088 8,820 8,433 7,302 6,661 6,661 Accounts Payable & Accrued
Expense
0.18 60.21 18.75 0.29 5.63 5.59 646 1.57 1,169 2,697 483 982 -- 2,747 2,748 2,499 2,499 Current Portion of Long-Term Debt
19.88 18.35 17.78 30.75 42.96 123 103 74.67 103 111 134 440 -- -- -- -- -- Current Deferred Revenue
19.88 18.35 17.78 30.75 42.96 123 103 74.67 103 111 134 440 -- -- -- -- -- DeferredTaxAndRevenue
0.00 95.74 26.65 0.00 -- -- 148 173 205 243 316 380 398 455 555 599 599 Other Current Liabilities
253 465 764 736 1,221 1,872 2,465 2,515 4,238 6,407 5,761 9,890 9,218 11,635 10,605 9,759 9,759 Total Current Liabilities
0.23 241 1,392 1,312 1,155 1,243 2,839 7,606 7,055 3,939 11,921 21,073 26,346 30,795 24,574 22,094 22,094 Long-Term Debt
0.23 241 1,392 1,312 1,155 1,243 2,839 7,606 7,055 3,939 11,921 21,073 26,346 30,795 24,574 22,094 22,094 Long-Term Debt & Capital Lease
Obligation
-- 0.10 0.78 0.38 0.27 0.20 0.59 1.13 0.88 0.58 0.80 1.19 1.40 1.64 1.28 1.09 1.09 Debt to Equity
-- -- -- -- 74.18 43.03 32.84 31.87 30.72 83.00 -- -- -- -- -- -- -- NonCurrent Deferred Liabilities
-- -- 53.09 140 193 138 258 128 241 375 393 579 476 59.00 147 125 125 Minority Interest
31.40 32.73 61.05 187 21.46 35.92 134 283 373 405 1,163 1,640 2,050 7,352 6,962 7,124 7,124 Other Long-Term Liabilities
285 739 2,217 2,234 2,471 3,193 5,471 10,436 11,696 10,834 18,845 32,603 37,614 49,782 42,141 38,977 38,977 Total Liabilities
0.45 0.46 0.46 0.93 0.91 0.90 0.80 0.75 1.52 2.00 2.00 1.00 1.00 1.00 1.00 1.00 1.00 Common Stock
-4.27 810 -891 249 300 1,995 1,184 1,777 3,705 6,106 12,732 18,001 18,154 19,012 19,024 19,388 19,388 Retained Earnings
-19.23 11.45 2.22 -4.36 41.24 -5.76 30.91 58.20 -45.62 -124 301 88.00 278 165 80.00 85.00 85.00 Accumulated other comprehensive
income (loss)
1,894 2,206 2,704 3,214 3,930 4,377 4,648 4,903 5,642 5,386 2,391 444 454 1,264 2,282 3,051 3,051 Additional Paid-In Capital
1,871 3,028 1,816 3,460 4,273 6,367 5,864 6,739 9,303 11,370 15,426 18,534 18,887 20,442 21,387 22,525 22,525 Total Equity
0.87 0.80 0.44 0.59 0.62 0.66 0.51 0.39 0.44 0.50 0.45 0.36 0.33 0.29 0.34 0.37 0.37 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GILD 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
449 814 -1,190 1,615 1,970 2,626 2,890 2,789 2,574 3,057 12,059 18,106 13,488 4,644 5,460 5,364 5,364 Net Income
449 814 -1,190 1,615 1,970 2,626 2,890 2,789 2,574 3,057 12,059 18,106 13,488 4,644 5,460 5,364 5,364 Net Income From Continuing
Operations
24.41 35.78 47.28 51.28 156 213 265 302 278 345 1,050 1,098 1,158 1,286 1,429 1,404 1,404 Depreciation, Depletion and
Amortization
-119 13.75 -184 -138 -257 -356 -349 -376 198 -315 -2,578 -1,397 1,192 754 480 -218 -218 Change In Receivables
-37.89 -81.92 -358 -34.62 -331 -75.27 -161 -201 -350 -343 143 -855 -488 -253 -310 -95.00 -95.00 Change In Inventory
-18.76 -356 19.03 -252 9.72 -65.67 -70.47 -13.96 -129 -170 -371 -90.00 -520 358 903 -307 -307 Change In Prepaid Assets
11.90 13.53 264 -77.55 425 479 -70.12 832 366 244 2,257 3,837 1,362 4,249 -2,012 -178 -178 Change In Payables And Accrued
Expense
-123 -261 -225 -236 -128 30.21 -680 212 108 -562 -518 1,495 1,546 5,108 -939 -798 -798 Change In Working Capital
152 -53.24 -9.22 133 -24.97 -42.01 94.24 101 74.00 187 248 -393 -119 -82.00 289 -2,098 -2,098 Change In DeferredTax
-- -- -- -- 153 181 200 192 209 252 360 382 380 638 845 636 636 Stock Based Compensation
5.51 170 2,595 202 17.18 72.64 -71.21 15.56 -48.00 -174 -381 562 594 304 876 4,089 4,636 Cash Flow from Others
508 706 1,218 1,765 2,143 3,080 2,834 3,639 3,195 3,105 12,818 21,250 17,047 11,898 8,400 9,144 9,144 Cash Flow from Operations
-51.37 -47.95 -105 -78.65 -115 -230 -61.88 -132 -397 -190 -557 -747 -748 -590 -924 -825 -825 Purchase Of Property, Plant,
Equipment
-- -- -- -- -10.85 -1,248 -91.00 -589 -10,752 -379 -- -- -- -10,426 -156 -1,773 -- Purchase Of Business
-1,464 -2,226 -2,609 -3,507 -3,273 -2,614 -5,503 -5,128 -1,270 -257 -2,125 -17,239 -25,976 -23,314 -10,233 -30,455 -30,455 Purchase Of Investment
1,028 1,591 3,712 2,330 3,220 1,876 3,718 9,438 573 572 859 5,511 14,739 18,261 25,858 29,921 29,921 Sale Of Investment
-- -- -2,736 -46.44 -- -0.00 -0.00 -- -- -- -- -- -- -- -190 -4,685 -6,458 Cash From Other Investing Activities
-487 -682 -1,739 -1,302 -179 -2,216 -1,938 3,590 -11,846 -254 -1,823 -12,475 -11,985 -16,069 14,355 -7,817 -7,817 Cash Flow from Investing
78.80 143 403 243 246 223 221 212 466 313 331 319 208 234 289 209 209 Issuance of Stock
-- -- -545 -488 -1,970 -998 -4,023 -2,383 -667 -582 -5,349 -10,002 -11,001 -954 -2,900 -1,749 -1,749 Repurchase of Stock
-0.14 299 696 -99.46 -4.33 -311 2,094 4,009 519 -1,666 5,670 9,689 4,268 7,174 -6,250 -2,750 -2,750 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -- -1,874 -2,455 -2,731 -2,971 -3,222 -3,222 Cash Flow for Dividends
-- -- 95.26 76.28 253 35.43 369 -74.19 245 -609 -3,677 -4,016 -745 -330 -486 -122 -122 Other Financing
78.66 442 649 -267 -1,475 -1,051 -1,339 1,764 563 -2,544 -3,025 -5,884 -9,725 3,393 -12,318 -7,634 -7,634 Cash Flow from Financing
86.19 427 108 152 491 -186 -365 8,976 -8,080 309 7,914 2,824 -4,622 -641 10,352 -6,309 -6,309 Net Change in Cash
-51.37 -47.95 -105 -78.65 -115 -230 -61.88 -132 -397 -190 -557 -747 -748 -590 -924 -825 -825 Capital Expenditure
457 658 1,113 1,687 2,028 2,850 2,772 3,507 2,798 2,915 12,261 20,503 16,299 11,308 7,476 8,319 8,319 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GILD 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
35.18 30.56 -- 27.31 25.07 15.35 10.95 11.50 22.40 41.04 12.77 8.49 7.20 20.59 15.03 15.43 17.91 PE Ratio(TTM)
34.18 49.77 -- 29.42 25.27 14.56 11.95 9.25 20.63 44.57 11.93 7.45 6.08 9.06 14.46 25.81 29.94 Price to Owner Earnings
(TTM)
8.40 7.98 16.49 12.36 10.90 6.12 4.96 4.58 6.00 10.13 9.16 7.76 4.97 4.58 3.75 3.65 4.24 Price to Book
8.40 7.98 16.49 12.36 11.22 8.04 6.55 6.60 -- -- 44.42 20.22 10.73 -- 52.34 17.79 20.64 Price to Tangible Book
35.57 37.76 27.28 26.36 24.17 14.16 11.39 9.16 20.69 43.56 12.63 7.51 5.97 8.35 10.93 9.95 11.54 Price-to-Free-Cash-Flow
Ratio
32.17 35.32 24.85 25.18 22.87 13.12 11.14 8.83 18.17 40.90 12.08 7.24 5.70 7.94 9.73 9.05 10.51 Price-to-Operating-Cash-
Flow Ratio
12.27 12.30 10.03 10.50 9.18 5.76 3.98 3.83 5.99 11.34 6.22 4.71 3.20 3.62 3.69 3.69 4.28 PS Ratio
-- -- -- 0.39 0.52 0.39 0.34 0.45 1.16 3.49 0.54 0.17 0.12 0.43 1.11 -- -- PEG Ratio
10.91 10.92 10.07 10.17 8.65 5.52 3.86 3.42 6.43 10.72 5.78 4.65 3.58 3.90 3.51 3.68 4.26 EV-to-Revenue
22.18 19.35 18.10 19.42 15.81 10.22 7.16 6.89 14.68 24.71 8.82 6.48 5.66 6.39 7.53 10.92 12.65 EV-to-EBITDA
23.04 19.97 18.63 19.88 16.70 10.83 7.63 7.43 15.71 26.60 9.43 6.80 6.02 6.95 8.74 13.42 15.54 EV-to-EBIT
4.34 5.01 5.37 5.03 5.99 9.23 13.11 13.46 6.37 3.76 10.60 14.71 16.61 14.39 11.44 7.45 6.44 Return on Capital %
0.59 0.99 1.64 21.82 22.41 23.92 26.11 27.00 23.61 14.07 23.09 25.10 29.86 31.57 27.99 -0.13 -2.08 Forward Rate of Return
-- 294 -- 304 141 64.93 35.42 29.30 42.25 69.84 53.12 34.59 17.66 16.19 13.01 12.60 14.62 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- -- 1.27 2.57 2.90 3.65 3.88 3.35 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
15,709 24,163 29,936 42,747 46,586 38,941 29,064 30,832 55,799 115,234 141,296 143,892 93,809 93,705 80,189 82,209 95,278 Market Cap
14,455 22,153 30,463 43,027 46,149 38,671 30,709 28,668 62,402 120,113 143,965 151,919 108,736 101,796 77,569 82,575 95,644 Enterprise Value
8.75 13.14 16.23 23.01 25.57 21.64 18.12 20.47 36.73 75.10 94.26 101 71.61 71.64 62.55 64.98 75.40 Month End Stock Price
0.54 0.86 -0.72 -0.65 -0.48 -0.93 -2.26 -0.44 -6.63 -5.92 -6.08 -13.06 -20.00 -18.60 -9.52 -11.66 -11.66 Net Cash (per share)
0.87 1.28 0.09 0.35 0.89 0.82 -0.01 2.23 -3.81 -2.75 -1.02 -5.92 -14.12 -13.78 -5.03 -6.96 -6.96 Net Current Asset Value
(per share)
0.73 1.08 -0.32 -0.16 0.20 -0.06 -1.13 0.99 -5.19 -4.30 -3.30 -9.29 -16.81 -16.09 -7.25 -9.17 -9.17 Net-Net Working Capital (per
share)
1.36 2.76 3.92 6.75 9.88 14.50 19.57 26.57 28.35 29.74 49.61 85.51 120 137 149 109 109 Projected FCF (per share)
14.50 19.01 25.02 31.55 40.08 52.05 58.48 63.31 66.53 65.04 144 172 152 116 77.86 75.92 75.92 Median PS (per share)
6.53 11.18 -16.20 21.06 25.50 35.25 41.38 44.50 31.54 21.50 175 298 249 87.00 56.11 -- -- Peter Lynch Fair Value (per
share)
2.41 3.99 -- 5.93 7.27 9.24 10.17 11.11 -- -- 18.73 36.62 38.64 -- 10.59 18.62 18.60 Graham Number (per share)
0.96 2.27 3.08 5.11 6.96 9.56 12.61 20.13 15.03 17.35 30.37 47.71 66.02 72.89 85.22 73.73 73.73 Earnings Power Value
(EPV)
35.57 22.33 8.51 14.02 13.94 9.91 5.50 3.93 4.29 7.95 7.60 5.54 3.74 2.91 2.84 2.80 3.00 Altman Z-Score
8.00 4.00 3.00 7.00 5.00 7.00 3.00 5.00 4.00 4.00 8.00 5.00 4.00 6.00 6.00 8.00 8.00 Piotroski F-Score
-2.03 -1.54 -1.89 -2.03 -2.46 -2.17 -2.44 -2.92 -1.24 -2.26 -1.76 -2.53 -2.92 -3.23 -2.94 -2.76 -2.76 Beneish M-Score
0.40 0.47 0.62 0.92 0.66 0.88 0.77 0.40 0.92 0.77 0.80 0.77 0.65 0.50 0.27 0.36 0.39 Scaled Net Operating
Assets
19.89 21.00 -16.37 19.75 0.21 18.27 17.30 -25.57 52.93 0.99 3.19 18.05 14.81 12.52 -27.17 6.59 6.59 Sloan Ratio (%)
7.30 6.65 3.18 4.11 3.50 2.57 2.32 5.53 1.45 1.09 3.07 2.50 2.12 2.74 3.38 3.10 3.10 Current Ratio
6.76 6.18 2.44 3.30 2.74 2.01 1.83 4.98 1.04 0.83 2.83 2.31 1.95 2.67 3.30 3.01 3.01 Quick Ratio
9.76 13.91 17.44 23.87 28.55 26.40 24.73 21.61 38.17 75.20 114 122 102 85.47 88.80 70.05 78.88 Highest Stock Price
6.47 7.76 13.14 15.68 18.74 20.72 15.92 17.67 20.47 36.73 65.48 94.26 71.61 64.12 60.54 61.62 60.89 Lowest Stock Price
-5.23 -2.43 -0.30 -0.72 1.93 1.23 10.86 6.10 -0.86 -1.00 2.31 5.14 7.88 0.15 1.99 1.31 1.31 Shares Buyback Ratio (%)
32.28 49.93 54.16 33.07 26.86 34.90 21.26 16.59 15.51 7.83 129 42.00 4.28 -11.55 -14.53 3.91 3.95 YoY Rev. per Sh. Growth
(%)
650 73.74 -251 229 22.62 36.89 17.73 6.63 -7.34 10.37 306 62.04 -16.54 -64.69 18.80 1.20 1.15 YoY EPS Growth (%)
61.01 71.79 51.91 25.44 31.33 34.26 21.17 7.21 2.01 6.78 246 55.57 -8.19 -14.64 -34.78 -24.87 -24.98 YoY EBITDA Growth (%)
-- -- -- 70.88 48.62 39.00 32.21 25.63 19.23 11.75 23.70 48.90 60.52 47.95 13.48 -14.23 -12.70 EBITDA 5-Y Growth (%)
1,728 1,817 1,836 1,858 1,841 1,809 1,712 1,550 1,515 1,529 1,522 1,464 1,339 1,307 1,298 1,270 1,267 Shares Outstanding (Basic
Average)
1,795 1,839 1,844 1,858 1,822 1,800 1,604 1,506 1,519 1,534 1,499 1,422 1,310 1,308 1,282 1,265 1,264 Shares Outstanding (EOP)
0.77 0.70 0.56 1.04 0.56 0.42 0.36 0.46 0.57 1.00 1.18 1.17 0.88 0.87 1.34 1.19 1.18 Beta
03/14/05 03/03/06 02/27/07 02/27/08 02/27/09 03/01/10 02/28/11 02/23/12 02/27/13 02/25/14 02/25/15 02/24/16 02/27/17 02/27/18 02/26/19 02/25/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GILD 6/7
03/03/06 02/27/07 02/27/08 02/27/08 03/01/10 02/28/11 02/27/13 02/25/14 02/25/15 02/24/16 02/27/17 02/27/18 02/26/19 02/25/20 02/25/20 02/25/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GILD 7/7
Molson Coors Beverage Co (NYSE:TAP) 03/02/2020 4:10PM EST GuruFocus
Price: $ 51.48 +1.87(+3.77%) Market Cap: $ 11.18 B Enterprise Value: $19.99 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 46.38
Cash to Debt 0.06 Operating margin (%) 13.93
Forward P/E N/A
Equity to Asset 0.47 Net-margin (%) 2.28
PE(NRI) 46.38
Interest Coverage 5.40 ROE (%) 1.79
F-Score:
P/B 0.83
ROA (%) 0.82
5 P/S 1.06
Z-Score: ROC (Joel Greenblatt) (%) 16.46
1.20 PFCF 8.56
Revenue Growth (3Y)(%) 28.70
M-Score: POCF 5.88
-2.65 EBITDA Growth (3Y)(%) -24.60
EV-to-EBIT 26.28
WACC vs 4.77% EPS Growth (3Y)(%) -47.00
ROIC 3.28% PEG 4.14
WACC
ROIC Shiller P/E 12.04
Current Ratio 0.59
Quick Ratio 0.42
Days Inventory 37.04
Days Sales Outstanding 24.35
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TAP 1/8
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Molson Coors Beverage Co is the fifth- largest beer producer globally, boasting top two positioning in the U.S.,
Dividend Payout Ratio: Too
Canada, and many Central European markets. It brews and markets a slew of company-owned brands including Blue
high 2016 657 986 948 2,294 4,885 Moon, Coors and Miller Lite, Carling, and Staropramen. It also sells various partner brands in certain locales such as
2017 2,449 3,091 2,883 2,580 11,003 Amstel and Dos Equis in Canada (through an exclusive import/license arrangement with Heineken) and Corona in
Revenue per Share: Growth Central Europe (through an agreement with Anheuser-Busch InBev). The firm's go-to-market approach differs by
2018 2,332 3,085 2,934 2,419 10,770 geography as well, primarily utilizing independent distributors in the U.S., but deploying hybrid models in Canada and
slow down
2019 2,303 2,948 2,842 2,486 10,579 Europe.... (Read More)
ROIC vs. WACC: Return on 2020 Competitors: TSE:2587 , TSX:TPX.A, XZIM:DLTA.ZW, LIM:BACKUSI1 , HKSE:00291 , SZSE:000596 ,
SHSE:600600, TSE:2503, OCSE:RBREW, NYSE:SAM, BOM:532478, TSE:2502, SHSE:600132, SHSE:600779,
invested capital is less than
Quarterly Earnings per Share XSGO:CCU, XKLS:2836, SZSE:000729, IST:AEFES, ISX:MLBI, OCSE:CARL A
weighted average cost of
capital. Mar Jun Sep Dec Full Year Insider Trades
2016 0.80 0.80 0.94 6.65 9.19
Insider Sell: Insider Selling
2017 0.96 1.52 1.33 2.72 6.53
2018 1.28 1.96 1.56 0.35 5.15
Good Signs 2019 0.70 1.52 -1.86 0.75 1.11
2020
Operating Margin %:
Expansion Quarterly Dividends Per Share
Dividend Yield %: Close to Mar Jun Sep Dec Full Year
10-year high 2016 0.41 0.41 0.41 0.41 1.64
2017 0.41 0.41 0.41 0.41 1.64
PB Ratio: Close to 10-year 2018 0.41 0.41 0.41 0.41 1.64
low 2019 0.41 0.41 0.57 0.57 1.96
PS Ratio: Close to 10-year 2020
low Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
DCF
Revenue Growth (%) 12.10 24.20 -1.90
GuruFocus does not
EBITDA Growth (%) 7.70 11.20 -35.90
calculate intrinsic value: DCF
(Earnings Based) for Free Cash Flow Growth (%) 6.30 13.60 -22.50
companies with one star Book Value Growth (%) 4.90 10.50 -1.10
predictability or not rated. But EPS Growth (%) -0.80 -5.30 -78.40
you can go to each stock's
DCF page to calculate
yourself.
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TAP 2/8
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
56.79 34.40 33.73 34.13 25.74 16.31 17.38 18.86 21.54 22.83 22.28 19.14 22.89 50.82 49.72 48.78 48.79 Revenue per Share
8.53 5.12 6.08 5.55 4.81 5.50 5.99 5.96 5.84 6.29 5.61 4.78 17.40 11.76 11.65 7.47 7.47 EBITDA per Share
5.02 2.66 3.55 3.64 3.33 4.38 4.91 4.79 4.34 4.55 3.93 3.09 15.58 8.00 7.69 3.51 3.51 EBIT per Share
2.60 0.84 2.08 2.71 2.04 3.87 3.78 3.63 2.44 3.08 2.76 2.12 7.47 7.23 5.15 1.11 1.11 Earnings per Share (diluted)
2.60 1.44 2.16 2.81 2.11 3.92 3.57 3.62 2.43 3.07 2.76 2.10 7.47 7.23 5.15 1.11 1.11 eps without NRI
3.81 0.22 2.78 0.86 -0.12 2.71 2.43 3.09 3.60 5.00 3.84 2.93 15.50 8.59 7.88 3.93 3.93 Owner Earnings per Share (TTM)
3.80 0.10 2.23 1.04 0.98 3.76 3.05 3.39 4.19 4.75 5.53 2.37 3.68 5.85 7.75 6.01 6.01 Free Cashflow per Share
0.41 0.64 0.64 0.64 0.76 0.92 1.08 1.24 1.28 1.28 1.48 1.64 1.64 1.64 1.64 1.96 1.96 Dividends per Share
21.26 31.08 32.84 39.50 37.79 38.19 41.75 42.49 43.90 46.72 42.39 38.17 53.14 60.25 62.53 61.87 61.87 Book Value per Share
1.72 -11.50 -8.73 -6.83 5.21 5.77 8.86 8.94 -9.48 -3.47 -0.45 1.70 -50.55 -45.14 -39.49 -36.28 -36.28 Tangible Book per Share
12.38 14.50 12.05 12.51 10.93 9.24 10.50 10.90 25.72 20.63 17.09 15.92 56.18 52.52 48.55 41.88 41.88 Total Debt per Share
37.84 33.50 38.22 51.62 48.92 45.16 50.19 43.54 42.79 56.15 74.52 93.92 97.31 82.07 56.16 53.90 51.48 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
13.72 3.90 6.48 7.59 5.74 10.97 9.51 8.76 5.67 6.85 6.24 5.30 17.27 12.83 8.43 1.80 1.79 Return on Equity %
4.30 1.64 3.09 3.93 3.18 6.43 5.73 5.38 3.09 3.57 3.48 3.01 7.66 5.25 3.70 0.82 0.82 Return on Assets %
26.28 22.73 26.03 25.83 30.94 61.46 67.19 63.35 46.02 42.27 38.82 34.02 109 37.74 35.90 16.62 16.46 Return on Capital %
9.53 9.14 6.94 8.90 5.82 5.28 4.27 4.55 3.14 3.39 3.85 3.44 0.93 8.33 4.88 3.33 3.28 Return on Invested Capital %
8.31 10.29 10.13 8.80 6.31 7.98 7.36 6.62 6.09 7.21 9.23 6.27 6.63 4.54 5.17 5.41 4.77 Weighted Average Cost Of Capital (WACC) %
6.64 7.67 6.19 6.13 5.93 5.58 6.00 6.05 5.92 4.34 4.16 3.94 3.62 2.99 2.81 2.87 2.78 Effective Interest Rate on Debt %
36.33 39.95 40.44 40.19 40.50 43.05 44.32 41.72 39.93 39.48 39.87 40.25 38.61 43.32 38.86 39.71 39.71 Gross Margin %
7.92 10.30 11.27 12.17 12.57 13.35 13.20 12.73 11.18 11.10 11.80 11.15 5.91 15.58 12.83 13.93 13.93 Operating Margin %
4.57 2.45 6.18 7.95 7.93 23.76 21.75 19.24 11.31 13.49 12.40 11.08 32.63 14.23 10.37 2.28 2.28 Net Margin %
6.70 0.29 6.62 3.03 3.79 23.07 17.57 18.00 19.44 20.79 24.80 12.36 16.07 11.51 15.60 12.32 12.32 FCF Margin %
0.58 0.47 0.37 0.32 0.29 0.24 0.25 0.26 0.59 0.44 0.40 0.42 1.06 0.87 0.78 0.68 0.68 Debt to Equity
0.34 0.45 0.50 0.53 0.58 0.59 0.61 0.62 0.49 0.55 0.56 0.57 0.39 0.43 0.45 0.47 0.47 Total Equity to Total Asset
0.20 0.21 0.18 0.17 0.17 0.14 0.15 0.16 0.29 0.24 0.23 0.24 0.41 0.37 0.35 0.32 0.32 Total Debt to Total Asset
34.21 26.74 20.20 19.86 16.22 11.65 11.67 11.68 10.92 10.45 11.18 10.94 9.06 16.00 13.87 14.25 14.23 Gross Profit to Total Asset %
0.94 0.67 0.50 0.49 0.40 0.27 0.26 0.28 0.27 0.27 0.28 0.27 0.24 0.37 0.36 0.36 0.36 Asset Turnover
0.16 0.44 0.30 0.23 0.36 0.24 0.30 0.34 0.53 0.42 0.54 0.78 0.22 0.23 0.32 1.77 1.77 Dividend Payout Ratio
58.69 45.91 42.43 44.72 33.10 61.84 64.02 55.01 56.69 49.71 43.04 41.73 48.90 24.16 24.94 24.35 24.35 Days Sales Outstanding
42.60 39.16 40.71 34.66 19.63 40.88 45.88 47.83 76.07 85.99 90.47 95.82 158 91.80 89.62 89.74 89.74 Days Accounts Payable
31.54 33.84 36.75 37.29 39.27 47.50 49.34 42.44 36.57 34.20 33.75 34.72 46.98 34.65 32.80 34.56 37.04 Days Inventory
47.63 40.59 38.47 47.35 52.74 68.46 67.48 49.62 17.19 -2.08 -13.68 -19.37 -62.05 -32.99 -31.88 -30.83 -28.35 Cash Conversion Cycle
11.57 10.79 9.93 9.79 9.29 7.68 7.40 8.60 9.98 10.67 10.81 10.51 7.77 10.53 11.13 10.56 9.85 Inventory Turnover
0.64 0.60 0.60 0.60 0.60 0.57 0.56 0.58 0.60 0.61 0.60 0.60 0.61 0.57 0.61 0.60 0.60 COGS to Revenue
0.06 0.06 0.06 0.06 0.06 0.07 0.08 0.07 0.06 0.06 0.06 0.06 0.08 0.05 0.06 0.06 0.06 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TAP 3/8
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,306 5,507 5,845 6,191 4,774 3,032 3,254 3,516 3,917 4,206 4,146 3,568 4,885 11,003 10,770 10,579 10,579 Revenue
2,742 3,307 3,481 3,703 2,841 1,727 1,812 2,049 2,353 2,546 2,493 2,132 2,999 6,237 6,585 6,378 6,378 Cost of Goods Sold
1,564 2,200 2,364 2,488 1,934 1,306 1,442 1,467 1,564 1,661 1,653 1,436 1,886 4,766 4,185 4,201 4,201 Gross Profit
36.33 39.95 40.44 40.19 40.50 43.05 44.32 41.72 39.93 39.48 39.87 40.25 38.61 43.32 38.86 39.71 39.71 Gross Margin %
1,223 1,633 1,705 1,734 1,333 901 1,013 1,019 1,126 1,194 1,164 1,038 1,597 3,052 2,803 2,728 2,728 Selling, General, & Admin. Expense
-- -0.00 -- -0.00 -- 0.00 0.00 -0.00 0.00 0.00 -0.00 0.00 -0.00 0.00 0.00 -0.00 -0.00 Other Operating Expense
341 567 658 753 600 405 430 448 438 467 489 398 289 1,714 1,382 1,473 1,473 Operating Income
7.92 10.30 11.27 12.17 12.57 13.35 13.20 12.73 11.18 11.10 11.80 11.15 5.91 15.58 12.83 13.93 13.93 Operating Margin %
19.25 17.50 16.29 26.60 17.30 10.70 10.80 10.70 11.30 13.70 11.30 8.30 27.20 6.00 8.00 8.20 -- Interest Income
-72.44 -131 -143 -135 -119 -96.60 -110 -119 -196 -184 -145 -120 -272 -349 -306 -281 -273 Interest Expense
-53.19 -114 -127 -108 -102 -85.90 -99.40 -108 -198 -170 -134 -119 -308 -343 -298 -273 -273 Net Interest Income
20.47 -159 -59.67 -119 0.90 399 479 435 352 358 231 177 3,073 12.40 276 -721 -721 Other Income (Expense)
-16.22 -14.49 -16.09 -15.30 -12.20 -2.80 -2.20 -0.80 3.90 -5.20 -3.80 -3.30 -5.90 -22.20 -18.10 -4.50 -4.50 Other Income (Minority Interest)
308 295 472 526 499 718 809 774 592 655 586 456 3,054 1,383 1,360 480 480 Pre-Tax Income
-95.23 -50.26 -82.41 -1.00 -96.40 14.70 -139 -99.40 -155 -84.00 -69.00 -61.50 -1,454 205 -225 -234 -234 Tax Provision
30.90 17.03 17.46 0.19 19.30 -2.05 17.14 12.84 26.09 12.83 11.77 13.48 47.62 -14.79 16.56 48.70 48.70 Tax Rate %
213 245 390 525 403 732 670 675 438 571 517 395 1,600 1,588 1,135 246 246 Net Income (Continuing Operations)
-- -91.83 -12.53 -17.70 -12.10 -9.00 39.60 2.30 1.50 2.00 0.50 3.90 -2.80 1.50 -- -- -- Net Income (Discontinued
Operations)
197 135 361 492 379 720 708 676 443 567 514 395 1,594 1,566 1,117 242 242 Net Income
4.57 2.45 6.18 7.95 7.93 23.76 21.75 19.24 11.31 13.49 12.40 11.08 32.63 14.23 10.37 2.28 2.28 Net Margin %
2.65 0.85 2.10 2.75 2.07 3.91 3.80 3.66 2.45 3.10 2.78 2.13 7.52 7.27 5.17 1.12 1.12 EPS (Basic)
2.60 0.84 2.08 2.71 2.04 3.87 3.78 3.63 2.44 3.08 2.76 2.12 7.47 7.23 5.15 1.11 1.11 EPS (Diluted)
75.82 160 173 181 186 186 187 186 182 184 186 186 213 217 217 217 217 Shares Outstanding (Diluted
Average)
266 393 438 346 273 208 202 217 273 321 313 314 388 813 858 859 859 Depreciation, Depletion and
Amortization
647 819 1,054 1,007 892 1,022 1,122 1,110 1,061 1,159 1,044 891 3,714 2,545 2,524 1,620 1,620 EBITDA
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
123 39.41 182 377 216 734 1,218 1,079 624 442 625 431 561 419 1,058 523 523 Cash And Cash Equivalents
123 39.41 182 377 216 734 1,218 1,079 624 442 625 431 561 419 1,058 523 523 Cash, Cash Equivalents, Marketable
Securities
692 693 680 759 433 514 571 530 608 573 489 408 654 728 736 706 706 Accounts Receivable
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TAP 4/8
141 181 175 200 104 69.60 64.30 79.10 89.20 85.20 75.20 27.20 297 284 279 295 295 Inventories, Raw Materials &
Components
32.57 35.27 38.69 40.70 13.40 18.30 16.60 15.30 20.30 23.30 20.70 13.00 81.60 85.20 83.40 84.00 84.00 Inventories, Work In Process
-- -- -- -- -- -- -- -5.90 -7.20 -6.80 -5.00 -- -- -- -- -- -- Inventories, Inventories
Adjustments
90.94 133 138 164 89.10 111 134 141 140 133 135 139 214 222 230 237 237 Inventories, Finished Goods
-- -- -- -- -- 43.60 32.10 0.00 -0.00 0.00 -0.00 -- -- -- -- -- -- Inventories, Other
264 349 352 404 207 243 247 229 242 235 226 179 593 592 592 616 616 Total Inventories
47.50 250 95.39 124 48.60 13.90 26.50 83.90 128 133 105 123 211 278 246 225 225 Other Current Assets
1,268 1,468 1,458 1,777 1,107 1,708 2,221 2,118 1,748 1,538 1,577 1,259 2,170 2,190 2,766 2,184 2,184 Total Current Assets
-- -- -- -- 2,419 2,614 2,574 2,488 2,432 2,507 2,389 2,441 -- -- -- -- -- Investments And Advances
142 207 209 234 118 -- 102 105 190 192 175 173 305 364 369 417 417 Land And Improvements
730 968 969 1,070 391 -- 342 352 486 505 475 457 853 931 954 1,026 1,026 Buildings And Improvements
3,000 3,524 3,462 3,992 1,415 -- 1,601 1,649 2,134 2,289 2,091 1,996 4,110 4,582 4,901 5,274 5,274 Machinery, Furniture, Equipment
53.74 266 390 110 48.90 -- 65.20 138 122 126 155 123 413 534 536 444 444 Construction In Progress
3,929 4,969 5,036 5,411 1,975 2,235 2,315 2,450 3,221 3,429 3,141 2,981 6,007 6,770 7,167 7,551 7,551 Gross Property, Plant and Equipment
-2,484 -2,664 -2,615 -2,715 -674 -888 -927 -1,020 -1,225 -1,459 -1,343 -1,390 -1,499 -2,097 -2,559 -3,005 -3,005 Accumulated Depreciation
1,446 2,306 2,421 2,696 1,302 1,347 1,389 1,430 1,996 1,970 1,798 1,591 4,507 4,674 4,608 4,547 4,547 Property, Plant and Equipment
1,472 7,295 7,364 8,386 5,221 6,010 6,144 6,039 9,688 9,244 7,947 6,729 22,282 22,702 22,037 21,287 21,287 Intangible Assets
891 2,871 2,969 3,347 1,298 1,475 1,489 1,453 2,453 2,419 2,192 1,983 8,250 8,406 8,261 7,631 7,631 Goodwill
472 731 360 593 338 343 370 348 349 322 269 257 383 682 698 841 841 Other Long Term Assets
4,658 11,799 11,603 13,452 10,387 12,021 12,698 12,424 16,212 15,580 13,980 12,276 29,342 30,247 30,110 28,860 28,860 Total Assets
320 355 388 352 153 193 228 269 490 600 618 560 1,298 1,569 1,617 1,568 1,568 Accounts Payable
197 -- 428 -- -- -- 222 246 212 217 215 202 317 293 244 278 278 Total Tax Payable
1,050 1,523 1,490 1,570 861 955 977 688 844 980 988 883 1,859 2,070 2,094 2,072 2,072 Accounts Payable & Accrued
Expense
38.53 348 4.44 4.30 0.10 300 1.10 46.90 1,246 587 849 28.70 685 715 1,595 975 975 Current Portion of Long-Term Debt
5.85 106 116 121 108 167 220 161 152 138 165 -- -- -- -- -- -- Current Deferred Taxes Liabilities
5.85 106 116 121 108 167 220 161 152 138 165 -- -- -- -- -- -- DeferredTaxAndRevenue
82.90 259 190 40.80 16.90 158 137 381 356 457 324 306 614 615 613 649 649 Other Current Liabilities
1,177 2,237 1,800 1,736 986 1,581 1,334 1,277 2,599 2,161 2,325 1,217 3,158 3,399 4,301 3,696 3,696 Total Current Liabilities
894 2,137 2,130 2,261 1,752 1,413 1,960 1,915 3,423 3,213 2,321 2,909 11,388 10,599 8,894 8,110 8,110 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Capital Lease Obligation
894 2,137 2,130 2,261 1,752 1,413 1,960 1,915 3,423 3,213 2,321 2,909 11,388 10,599 8,894 8,110 8,110 Long-Term Debt & Capital Lease
Obligation
0.58 0.47 0.37 0.32 0.29 0.24 0.25 0.26 0.59 0.44 0.40 0.42 1.06 0.87 0.78 0.68 0.68 Debt to Equity
483 842 754 678 581 824 459 698 833 463 543 202 1,196 849 727 717 717 PensionAndRetirementBenefit
150 606 607 891 630 533 548 456 949 911 784 800 1,699 1,896 2,129 2,259 2,259 NonCurrent Deferred Liabilities
36.87 83.81 46.78 43.80 -16.00 13.20 43.80 42.30 24.70 24.90 22.80 20.10 203 209 228 254 254 Minority Interest
316 570 449 693 398 578 555 388 418 202 121 85.60 280 317 324 407 407 Other Long-Term Liabilities
3,019 6,391 5,739 6,258 4,347 4,928 4,855 4,734 8,221 6,950 6,094 5,213 17,720 17,060 16,374 15,187 15,187 Total Liabilities
0.38 0.63 1.36 1.50 1.60 1.60 1.60 837 836 824 772 713 681 663 663 662 662 Common Stock
1,398 1,423 1,673 1,951 2,185 2,735 3,242 3,690 3,901 4,200 4,440 4,496 6,145 6,958 7,693 7,617 7,617 Retained Earnings
97.90 187 317 1,105 -371 20.70 171 -130 -72.30 155 -898 -1,695 -1,572 -860 -1,150 -1,162 -1,162 Accumulated other comprehensive
income (loss)
105 3,714 3,826 4,093 4,240 4,322 4,385 3,572 3,624 3,748 3,871 4,000 6,635 6,689 6,773 6,774 6,774 Additional Paid-In Capital
-- -- -- -- -- -- -- -321 -321 -321 -321 -471 -471 -471 -471 -471 -471 Treasury Stock
1,601 5,325 5,817 7,150 6,055 7,080 7,799 7,648 7,967 8,605 7,863 7,043 11,419 12,978 13,507 13,419 13,419 Total Equity
0.34 0.45 0.50 0.53 0.58 0.59 0.61 0.62 0.49 0.55 0.56 0.57 0.39 0.43 0.45 0.47 0.47 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TAP 5/8
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
197 135 361 507 391 723 710 677 439 573 518 399 1,600 1,588 1,135 246 246 Net Income
-5.74 -9.27 -4.60 7.10 -1.50 -0.10 -9.90 9.10 38.00 8.40 12.20 16.70 -20.70 -124 193 18.90 18.90 Net Foreign Currency Exchange
Gain
197 135 361 507 391 723 710 677 439 573 518 399 1,600 1,588 1,135 246 246 Net Income From Continuing
Operations
266 393 438 346 273 208 202 217 273 321 313 314 388 813 858 859 859 Depreciation, Depletion and
Amortization
-35.67 9.07 57.70 -47.70 -128 -63.30 -7.80 -29.00 106 70.40 22.30 60.80 65.60 -7.20 -38.40 38.50 -- Change In Receivables
-3.44 47.23 7.80 -23.10 39.30 1.80 -10.10 -17.10 54.10 4.20 -16.50 10.90 -23.20 21.30 -10.60 -17.70 -- Change In Inventory
37.36 16.72 4.10 -27.50 -10.50 21.00 45.30 -2.60 -69.90 185 75.30 -111 145 31.00 27.60 -53.00 -- Change In Payables And Accrued
Expense
20.03 -208 -1.90 -236 -410 -221 -239 -131 66.20 165 57.30 27.60 185 16.80 -88.00 -12.50 -12.50 Change In Working Capital
6.22 -23.05 1.40 -101 78.60 128 68.00 38.90 72.50 84.00 69.00 61.50 1,454 -205 225 234 234 Change In DeferredTax
-- 12.40 22.10 37.40 55.90 22.80 27.40 24.70 14.00 19.50 23.50 18.40 29.90 58.30 42.60 8.50 8.50 Stock Based Compensation
26.04 39.92 9.80 -5.10 -28.40 26.40 1.70 34.80 121 8.80 308 -101 -2,533 -403 159 562 562 Cash Flow from Others
500 422 833 616 412 858 750 868 984 1,168 1,288 716 1,127 1,866 2,331 1,897 1,897 Cash Flow from Operations
-212 -406 -446 -428 -231 -159 -178 -235 -222 -294 -260 -275 -342 -600 -652 -594 -594 Purchase Of Property, Plant,
Equipment
72.06 42.45 29.12 8.05 -- -- 5.20 4.60 15.70 53.60 8.80 11.80 175 60.50 32.50 116 116 Sale Of Property, Plant, Equipment
-- -16.56 -- -26.70 -91.20 -582 -1,091 -925 -3,267 -1,187 -1,388 -1,534 -13,215 -- -- -- -- Purchase Of Business
-- -- 29.10 38.10 38.80 506 1,060 783 942 1,146 1,383 1,441 1,087 -- -- -- -- Sale Of Business
-25.96 -25.37 -28.00 -55.70 -31.50 -25.50 -- -- -111 -- -- -- -- -- -- -- -- Purchase Of Investment
54.05 42.46 34.20 32.30 48.60 32.10 35.10 15.40 -- -- -- -- -- -- -- -- -- Sale Of Investment
-- -- -- -- -- -- -- 15.40 -- -- -- -- -- -- -- -- -- Net Intangibles Purchase And Sale
-- -2.82 79.50 -- -- -- -96.00 -- -6.80 -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
43.93 53.17 7.68 -6.85 -3.70 0.10 -3.10 3.80 13.60 3.80 16.90 21.30 8.50 0.90 -49.90 44.60 44.60 Cash From Other Investing Activities
-67.45 -313 -295 -439 -270 -228 -267 -338 -2,635 -277 -239 -335 -12,287 -538 -669 -433 -433 Cash Flow from Investing
66.76 55.23 83.35 -- -- -- -- -- -- -- -- -- 2,526 -- -- -- -- Issuance of Stock
-- -- -- -- -- -- -- -321 -- -- -- -150 -- -- -- -- -- Repurchase of Stock
-365 -69.17 -363 -37.50 -175 -8.70 199 -20.50 1,446 -801 -521 -50.80 9,236 -1,090 -694 -1,588 -1,588 Net Issuance of Debt
-37.75 -121 -128 -115 -139 -170 -201 -228 -232 -235 -274 -303 -353 -353 -354 -424 -424 Cash Flow for Dividends
-- -54.30 6.55 161 47.00 61.90 -5.70 -95.40 -42.40 -23.30 -22.70 -27.20 -90.40 -53.20 39.40 5.30 Other Financing
5.30
-336 -189 -401 8.40 -267 -117 -7.60 -665 1,171 -1,059 -817 -532 11,318 -1,496 -1,009 -2,007 -2,007 Cash Flow from Financing
104 -83.60 143 195 -161 518 483 -139 -455 -182 182 -194 130 -142 639 -535 -535 Net Change in Cash
-212 -406 -446 -428 -231 -159 -178 -235 -222 -294 -260 -275 -342 -600 -652 -594 -594 Capital Expenditure
288 16.23 387 188 181 700 572 633 761 874 1,028 441 785 1,267 1,680 1,304 1,304 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TAP 6/8
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
14.67 47.52 22.55 19.05 23.98 11.67 13.28 11.99 17.61 18.41 27.10 48.66 10.59 12.57 10.90 48.56 46.38 PE Ratio(TTM)
9.94 150 13.77 60.23 -- 16.65 20.68 14.10 11.88 11.23 19.40 32.07 6.28 9.56 7.12 13.73 13.11 Price to Owner Earnings
(TTM)
1.78 1.08 1.16 1.31 1.29 1.18 1.20 1.02 0.97 1.20 1.76 2.46 1.83 1.36 0.90 0.87 0.83 Price to Book
22.04 -- -- -- 9.40 7.83 5.67 4.87 -- -- -- 55.18 -- -- -- -- -- Price to Tangible Book
10.02 332 30.53 51.88 50.64 12.00 16.44 12.80 10.22 11.84 13.46 39.56 27.07 14.02 7.24 8.97 8.56 Price-to-Free-Cash-Flow
Ratio
5.77 14.87 10.95 15.35 22.15 9.79 12.54 9.32 7.91 8.86 10.75 24.39 18.73 9.52 5.22 6.16 5.88 Price-to-Operating-Cash-
Flow Ratio
0.67 0.98 1.31 1.51 1.90 2.77 2.89 2.31 1.99 2.46 3.34 4.90 4.27 1.61 1.13 1.10 1.06 PS Ratio
0.61 1.82 -- -- -- -- -- 8.16 4.89 3.05 5.33 -- -- 0.57 0.44 2.26 4.14 PEG Ratio
0.86 1.50 1.50 1.82 1.96 3.09 3.12 2.49 3.02 3.26 3.95 5.57 6.68 2.62 2.02 1.94 1.89 EV-to-Revenue
5.69 10.09 8.32 11.20 10.50 9.16 9.06 7.89 11.15 11.84 15.70 22.29 8.78 11.31 8.64 12.66 12.34 EV-to-EBITDA
9.64 19.40 14.25 17.06 15.14 11.50 11.06 9.81 15.01 16.37 22.41 34.45 9.81 16.61 13.08 26.95 26.28 EV-to-EBIT
10.37 5.15 7.02 5.86 6.61 8.70 9.04 10.19 6.66 6.11 4.46 2.90 10.19 6.02 7.65 3.71 3.81 Return on Capital %
24.66 19.05 2.89 -5.84 -7.07 -2.07 3.04 6.83 10.90 12.50 10.57 1.72 3.46 25.21 28.63 29.36 29.80 Forward Rate of Return
23.76 20.46 21.41 25.97 23.63 19.21 19.41 15.52 15.19 19.56 26.38 31.74 26.07 19.65 12.38 12.60 12.04 Shiller PE Ratio
1.09 1.91 1.67 1.24 1.55 2.04 2.15 2.85 2.99 2.28 1.99 1.75 1.69 2.00 2.92 3.64 3.80 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,850 5,740 6,769 9,342 7,839 8,373 9,375 7,837 7,766 10,343 13,823 17,328 20,912 17,678 12,132 11,691 11,178 Market Cap
3,696 8,269 8,768 11,274 9,359 9,365 10,162 8,762 11,835 13,725 16,392 19,855 32,627 28,782 21,791 20,506 19,992 Enterprise Value
37.84 33.50 38.22 51.62 48.92 45.16 50.19 43.54 42.79 56.15 74.52 93.92 97.31 82.07 56.16 53.90 51.48 Month End Stock Price
-38.95 -37.56 -31.64 -32.74 -25.68 -22.69 -19.71 -20.54 -41.99 -35.46 -29.61 -26.03 -80.79 -78.23 -71.96 -68.77 -68.77 Net Cash (per share)
-23.75 -29.22 -24.43 -25.00 -20.12 -17.44 -14.34 -14.77 -35.80 -29.52 -24.47 -21.54 -73.30 -70.00 -64.05 -61.12 -61.12 Net Current Asset Value
(per share)
-30.30 -33.51 -27.77 -28.48 -23.01 -19.96 -16.75 -17.69 -38.81 -32.49 -27.02 -23.89 -77.13 -74.32 -68.03 -64.91 -64.91 Net-Net Working Capital (per
share)
39.64 32.95 34.76 41.50 37.65 45.27 50.46 56.74 61.44 69.09 82.04 70.01 77.46 107 119 124 124 Projected FCF (per share)
38.90 24.48 22.46 28.76 24.21 15.75 17.40 24.42 32.65 38.16 47.93 44.18 55.64 130 127 119 119 Median PS (per share)
61.77 18.41 -- -- -- -- -- -- 13.58 18.39 13.97 -- -- 143 128 23.83 23.83 Peter Lynch Fair Value (per
share)
10.01 -- -- -- 15.72 22.56 26.67 26.98 -- -- -- 8.97 -- -- -- -- -- Graham Number (per share)
11.15 -2.19 5.27 11.26 18.96 26.73 28.35 27.33 4.97 5.79 8.83 4.80 -38.58 -20.67 -5.91 7.39 7.39 Earnings Power Value
(EPV)
2.21 1.22 1.55 1.72 2.05 1.83 2.09 2.01 1.24 1.67 2.21 2.96 1.51 1.45 1.28 1.22 1.20 Altman Z-Score
8.00 5.00 7.00 7.00 6.00 6.00 5.00 6.00 5.00 5.00 6.00 6.00 4.00 5.00 4.00 5.00 5.00 Piotroski F-Score
-2.76 -2.22 -2.65 -2.29 -2.88 -2.22 -2.62 -2.73 -2.69 -2.80 -2.96 -2.84 -2.44 -1.94 -2.63 -2.65 -2.65 Beneish M-Score
0.55 1.69 0.66 0.78 0.56 0.78 0.71 0.68 0.97 0.74 0.67 0.69 1.88 0.82 0.77 0.74 0.77 Scaled Net Operating
Assets
-5.06 0.22 -1.53 2.34 2.28 0.75 1.78 1.18 12.92 -2.08 -3.82 0.11 43.47 0.79 -1.81 -4.24 -4.24 Sloan Ratio (%)
1.08 0.66 0.81 1.02 1.12 1.08 1.66 1.66 0.67 0.71 0.68 1.03 0.69 0.64 0.64 0.59 0.59 Current Ratio
0.85 0.50 0.61 0.79 0.91 0.93 1.48 1.48 0.58 0.60 0.58 0.89 0.50 0.47 0.51 0.42 0.42 Quick Ratio
38.25 39.75 38.38 57.23 59.26 50.49 50.93 49.93 46.00 56.15 77.75 95.14 111 102 85.21 66.61 64.32 Highest Stock Price
26.95 29.05 31.18 37.72 35.41 31.44 38.90 38.00 38.28 41.83 51.32 65.19 83.63 76.52 55.15 50.07 47.62 Lowest Stock Price
-3.44 -128 -3.38 -2.18 11.46 -15.70 -0.76 3.64 -0.83 -1.49 -0.71 0.54 -16.48 -0.23 -0.29 -0.40 -0.40 Shares Buyback Ratio (%)
3.91 -39.42 -1.97 1.19 -24.58 -36.62 6.52 8.55 14.22 5.99 -2.43 -14.10 19.60 122 -2.16 -1.90 -1.88 YoY Rev. per Sh. Growth
(%)
8.81 -67.63 148 30.29 -24.72 89.71 -2.33 -3.97 -32.78 26.23 -10.39 -23.19 252 -3.21 -28.77 -78.45 -78.45 YoY EPS Growth (%)
9.15 -40.00 18.80 -8.70 -13.37 14.35 8.91 -0.55 -1.98 7.78 -10.81 -14.83 264 -32.45 -0.90 -35.90 -35.87 YoY EBITDA Growth (%)
23.94 14.61 -1.09 -9.28 -10.26 -5.54 -0.86 1.47 3.60 6.07 5.08 -2.30 -0.71 21.97 24.81 21.47 11.20 EBITDA 5-Y Growth (%)
74.32 159 172 179 183 184 186 185 181 183 185 185 212 215 216 217 217 Shares Outstanding (Basic
Average)
75.30 171 177 181 160 185 187 180 182 184 186 185 215 215 216 217 216 Shares Outstanding (EOP)
0.98 1.27 1.26 0.95 0.74 0.79 0.73 0.85 0.77 0.96 1.46 0.79 0.82 0.40 0.74 1.02 1.02 Beta
03/11/05 03/10/06 03/01/07 02/22/08 02/25/09 02/19/10 02/22/11 02/27/12 02/22/13 02/14/14 02/12/15 02/11/16 02/14/17 02/14/18 02/12/19 02/12/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TAP 7/8
03/01/07 02/22/08 02/22/08 02/19/10 02/19/10 02/22/11 02/22/13 02/14/14 02/12/15 02/11/16 02/14/17 02/14/18 02/12/19 02/12/20 02/12/20 02/12/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TAP 8/8
Southwest Airlines Co (NYSE:LUV) 03/02/2020 4:10PM EST GuruFocus
Price: $ 46.95 +0.76(+1.65%) Market Cap: $ 24.29 B Enterprise Value: $24.21 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 10.97
Cash to Debt 1.02 Operating margin (%) 13.19
Forward P/E N/A
Equity to Asset 0.38 Net-margin (%) 10.26
PE(NRI) 10.97
Interest Coverage 35.63 ROE (%) 23.30
F-Score:
P/B 2.48
ROA (%) 8.75
5 P/S 1.13
Z-Score: ROC (Joel Greenblatt) (%) 15.91
2.99 PFCF 8.57
Revenue Growth (3Y)(%) 9.10
WACC vs 9.91% POCF 6.35
ROIC 22.69% EBITDA Growth (3Y)(%) 1.80
WACC EV-to-EBIT 7.96
EPS Growth (3Y)(%) 7.40
ROIC
PEG 1.00
Shiller P/E 17.61
Current Ratio 0.67
Quick Ratio 0.61
Days Inventory 11.15
Days Sales Outstanding 17.67
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Southwest Airlines is the largest domestic carrier in the United States, as measured by the number of originating
passengers boarded. Southwest operates over 700 aircraft in an all-Boeing fleet. Despite expanding into longer
Good Signs 2016 4,826 5,384 5,139 4,939 20,288 routes, the airline still specializes in short-haul flights, using a point-to-point network. The firm employs almost 59,000
2017 4,854 5,731 5,303 5,258 21,146 workers and generated approximately $22 billion in revenue during 2018.... (Read More)
Dividend Yield %: Close to 2018 4,944 5,742 5,575 5,704
, , , ,
21,965 Competitors: NYSE:DAL NAS:UAL LSE:RYA LSE:IAG SHSE:601111 NAS:AAL SHSE:600115 TSE:9202
, , , ,
10-year high 2019 5,149 5,909 5,639 5,730
SHSE:600029, TSE:9201, TSX:AC, NYSE:ALK, NSE:INDIGO, LSE:EZJ, XTER:LHA, SGX:C6L, ASX:QAN,
22,427 LSE:WIZZ, NAS:JBLU, HKSE:00293
PB Ratio: Close to 5-year low 2020
Insider Trades
PS Ratio: Close to 5-year low Quarterly Earnings per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.79 1.28 0.62 0.84 3.53
2017 0.55 1.23 0.88 3.18 5.84
GuruFocus does not 2018 0.79 1.27 1.08 1.17 4.31
calculate intrinsic value: DCF 2019 0.70 1.37 1.23 0.98 4.28
(Earnings Based) for 2020
companies with one star
predictability or not rated. But Quarterly Dividends Per Share
you can go to each stock's Mar Jun Sep Dec Full Year
DCF page to calculate 2016 0.08 0.10 0.10 0.10 0.38
yourself. 2017 0.10 0.10 0.13 0.13 0.45
2018 0.13 0.16 0.16 0.16 0.61
Reverse DCF 2019 0.16 0.18 0.18 0.18 0.70
2020
GuruFocus does not
calculate reverse DCF growth Growth Rate
rate for companies with one Annual Rates(per share) 10-Y 5-Y 12-M
star predictability or not rated.
But you can go to each Revenue Growth (%) 11.00 9.20 8.70
stock's DCF page to calculate EBITDA Growth (%) 22.60 11.00 1.70
yourself. Free Cash Flow Growth (%) 25.00 31.40 8.10
Book Value Growth (%) 9.90 14.40 6.20
EPS Growth (%) 43.30 19.00 -0.50
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LUV 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
7.93 9.40 11.11 12.84 14.92 13.97 16.20 20.20 22.57 24.65 26.73 29.63 32.05 35.07 38.27 41.61 41.66 Revenue per Share
-3.99 1.48 1.77 2.26 1.33 1.28 2.04 1.57 2.19 3.04 4.11 6.85 7.50 7.54 7.77 7.90 7.92 EBITDA per Share
-4.52 0.90 1.14 1.53 0.52 0.44 1.20 0.65 1.07 1.83 2.76 5.34 5.57 5.52 5.67 5.64 5.65 EBIT per Share
0.38 0.60 0.61 0.84 0.24 0.13 0.61 0.23 0.56 1.05 1.64 3.27 3.45 5.57 4.29 4.27 4.28 Earnings per Share (diluted)
0.38 0.60 0.61 0.84 0.24 0.13 0.61 0.23 0.56 1.05 1.64 3.27 3.45 5.57 4.29 4.27 4.28 eps without NRI
0.19 1.41 0.26 2.37 -3.58 -0.11 0.84 0.41 1.48 2.03 2.84 4.06 3.95 3.16 5.33 4.40 4.40 Owner Earnings per Share (TTM)
-0.75 1.21 0.01 1.97 -3.31 0.54 1.43 0.50 0.95 1.44 1.54 1.64 3.39 2.79 5.08 5.49 5.48 Free Cashflow per Share
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.13 0.22 0.29 0.38 0.45 0.61 0.70 0.70 Dividends per Share
7.04 8.38 8.23 9.45 6.69 7.36 8.35 8.90 9.57 10.47 10.03 11.36 13.72 16.38 17.83 18.94 18.94 Book Value per Share
7.04 8.38 8.23 9.45 6.69 7.36 8.35 7.45 8.06 8.85 8.06 9.15 11.45 14.03 15.35 16.50 16.50 Tangible Book per Share
2.35 2.51 2.16 2.85 4.95 4.73 4.52 4.86 4.32 4.03 3.99 4.91 5.51 6.23 6.11 7.70 7.70 Total Debt per Share
16.28 16.43 15.32 12.20 8.62 11.43 12.98 8.56 10.24 18.84 42.32 43.06 49.84 65.45 46.48 53.98 46.95 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5.93 7.94 7.60 9.63 2.99 1.90 7.84 2.71 6.07 10.52 16.10 30.86 27.63 37.13 25.29 23.37 23.30 Return on Equity %
2.98 3.82 3.63 4.27 1.15 0.70 3.09 1.06 2.30 3.97 5.82 10.63 9.79 13.87 9.60 8.82 8.75 Return on Assets %
-85.29 8.08 9.68 11.23 3.50 3.04 8.43 4.45 6.52 10.06 13.89 23.88 21.60 18.72 17.11 16.04 15.91 Return on Capital %
-38.33 7.38 9.43 21.46 20.40 2.40 9.84 6.72 6.76 12.00 21.82 37.31 27.85 37.75 25.52 23.84 22.69 Return on Invested Capital %
9.55 8.13 5.75 2.36 5.44 8.91 8.80 7.36 5.20 7.59 5.59 9.32 7.78 8.58 11.21 10.73 9.91 Weighted Average Cost Of Capital (WACC) %
-- -- -- 6.30 3.65 4.60 4.32 5.10 3.65 3.58 3.88 3.07 2.28 1.84 2.64 2.22 1.98 Effective Interest Rate on Debt %
43.54 44.49 42.35 73.73 67.18 54.91 19.94 17.28 16.65 19.72 24.49 32.28 30.68 29.58 27.58 26.68 26.68 Gross Margin %
-56.97 9.56 10.28 22.54 18.88 2.53 8.23 5.28 4.72 7.71 12.64 20.96 17.36 16.11 14.60 13.18 13.19 Operating Margin %
4.79 6.38 5.49 6.54 1.61 0.96 3.79 1.14 2.46 4.26 6.11 11.00 10.76 15.88 11.22 10.26 10.26 Net Margin %
-9.46 12.82 0.08 15.35 -22.17 3.86 8.82 2.48 4.19 5.82 5.77 5.52 10.58 7.94 13.28 13.20 13.20 FCF Margin %
0.33 0.30 0.26 0.30 0.74 0.64 0.54 0.55 0.45 0.38 0.40 0.43 0.40 0.38 0.34 0.41 0.41 Debt to Equity
0.49 0.48 0.48 0.41 0.35 0.38 0.40 0.38 0.38 0.38 0.34 0.35 0.36 0.38 0.38 0.38 0.38 Total Equity to Total Asset
0.16 0.14 0.13 0.13 0.26 0.25 0.22 0.21 0.17 0.15 0.14 0.15 0.15 0.15 0.13 0.15 0.15 Total Debt to Total Asset
27.04 26.63 28.02 48.10 48.02 40.11 16.24 16.14 15.52 18.40 23.32 31.18 27.92 25.85 23.59 22.95 22.76 Gross Profit to Total Asset %
0.62 0.60 0.66 0.65 0.72 0.73 0.81 0.93 0.93 0.93 0.95 0.97 0.91 0.87 0.86 0.86 0.85 Asset Turnover
0.05 0.03 0.03 0.02 0.08 0.14 0.03 0.08 0.06 0.12 0.13 0.09 0.11 0.08 0.14 0.16 0.16 Dividend Payout Ratio
-- -- -- 10.33 6.92 5.96 5.88 6.97 7.09 8.64 7.16 8.73 9.82 11.43 9.44 17.67 17.67 Days Sales Outstanding
41.58 45.43 44.81 107 67.39 58.34 27.84 29.79 4.46 4.86 3.20 4.84 3.58 4.56 6.03 6.75 6.75 Days Accounts Payable
6.78 12.44 11.53 31.00 23.30 16.58 8.74 9.07 11.15 12.02 10.51 8.88 8.41 9.28 10.11 10.99 11.15 Days Inventory
-34.80 -32.99 -33.28 -65.63 -37.17 -35.80 -13.22 -13.75 13.78 15.80 14.47 12.77 14.65 16.15 13.52 21.91 22.07 Cash Conversion Cycle
53.82 29.34 31.65 11.77 15.66 22.01 41.77 40.22 32.74 30.36 34.73 41.11 43.41 39.34 36.11 33.22 32.73 Inventory Turnover
0.56 0.56 0.58 0.26 0.33 0.45 0.80 0.83 0.83 0.80 0.76 0.68 0.69 0.70 0.72 0.73 0.73 COGS to Revenue
0.01 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.02 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LUV 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6,530 7,584 9,086 9,861 11,023 10,350 12,104 15,658 17,088 17,699 18,605 19,820 20,289 21,146 21,965 22,428 22,427 Revenue
3,687 4,210 5,238 2,590 3,618 4,667 9,690 12,952 14,243 14,209 14,049 13,423 14,064 14,892 15,907 16,445 16,444 Cost of Goods Sold
2,843 3,374 3,848 7,271 7,405 5,683 2,414 2,706 2,845 3,490 4,556 6,397 6,225 6,254 6,058 5,983 5,983 Gross Profit
43.54 44.49 42.35 73.73 67.18 54.91 19.94 17.28 16.65 19.72 24.49 32.28 30.68 29.58 27.58 26.68 26.68 Gross Margin %
3,032 3,319 3,705 3,213 3,340 3,468 3,704 4,371 -- -- -- -- -- -- -- -- -- Selling, General, & Admin. Expense
3,531 -670 -791 1,835 1,984 1,953 -2,286 -2,492 2,039 2,126 2,205 2,242 2,703 2,847 2,852 3,026 3,026 Other Operating Expense
-3,720 725 934 2,223 2,081 262 996 827 806 1,364 2,351 4,155 3,522 3,407 3,206 2,957 2,957 Operating Income
-56.97 9.56 10.28 22.54 18.88 2.53 8.23 5.28 4.72 7.71 12.64 20.96 17.36 16.11 14.60 13.18 13.19 Operating Margin %
-- -- -- 94.00 26.00 13.00 12.00 10.00 7.00 6.00 7.00 9.00 24.00 35.00 69.00 90.00 90.00 Interest Income
-- -- -- -119 -105 -165 -149 -182 -126 -107 -107 -90.00 -75.00 -65.00 -93.00 -82.00 -83.00 Interest Expense
-- -- -- -25.00 -79.00 -152 -137 -172 -119 -101 -100.00 -81.00 -51.00 -30.00 -24.00 8.00 7.00 Net Interest Income
4,209 54.00 -144 -1,140 -1,724 54.00 -114 -332 -2.00 -54.00 -435 -595 -21.00 -112 -18.00 -8.00 -9.00 Other Income (Expense)
489 779 790 1,058 278 164 745 323 685 1,209 1,816 3,479 3,450 3,265 3,164 2,957 2,957 Pre-Tax Income
-176 -295 -291 -413 -100.00 -65.00 -286 -145 -264 -455 -680 -1,298 -1,267 92.00 -699 -657 -657 Tax Provision
35.99 37.87 36.84 39.04 35.97 39.63 38.39 44.89 38.54 37.63 37.44 37.31 36.72 -2.82 22.09 22.22 22.22 Tax Rate %
313 484 499 645 178 99.00 459 178 421 754 1,136 2,181 2,183 3,357 2,465 2,300 2,300 Net Income (Continuing Operations)
313 484 499 645 178 99.00 459 178 421 754 1,136 2,181 2,183 3,357 2,465 2,300 2,300 Net Income
4.79 6.38 5.49 6.54 1.61 0.96 3.79 1.14 2.46 4.26 6.11 11.00 10.76 15.88 11.22 10.26 10.26 Net Margin %
0.40 0.61 0.63 0.85 0.24 0.13 0.62 0.23 0.56 1.06 1.65 3.30 3.48 5.58 4.30 4.28 4.29 EPS (Basic)
0.38 0.60 0.61 0.84 0.24 0.13 0.61 0.23 0.56 1.05 1.64 3.27 3.45 5.57 4.29 4.27 4.28 EPS (Diluted)
824 807 818 768 739 741 747 775 757 718 696 669 633 603 574 539 527 Shares Outstanding (Diluted
Average)
431 469 515 555 599 616 628 715 844 867 938 1,015 1,221 1,218 1,201 1,219 1,220 Depreciation, Depletion and
Amortization
-3,289 1,194 1,449 1,732 982 945 1,522 1,220 1,655 2,183 2,861 4,584 4,746 4,548 4,458 4,258 4,260 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LUV 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,305 2,280 1,390 2,213 1,368 1,114 1,261 829 1,113 1,355 1,282 1,583 1,680 1,495 1,854 2,548 2,548 Cash And Cash Equivalents
-- 251 369 566 435 1,479 2,277 2,315 1,857 1,797 1,706 1,468 1,625 1,778 1,835 1,524 1,524 Marketable Securities
1,305 2,531 1,759 2,779 1,803 2,593 3,538 3,144 2,970 3,152 2,988 3,051 3,305 3,273 3,689 4,072 4,072 Cash, Cash Equivalents, Marketable
Securities
-- -- -- 279 209 169 195 299 332 419 365 474 546 662 568 1,086 1,086 Accounts Receivable
137 150 181 259 203 221 243 401 469 467 342 311 337 420 461 529 529 Inventories, Other
137 150 181 259 203 221 243 401 469 467 342 311 337 420 461 529 529 Total Inventories
482 681 420 1,126 438 375 303 501 456 418 232 188 310 460 310 287 287 Other Current Assets
2,172 3,620 2,601 4,443 2,653 3,358 4,279 4,345 4,227 4,456 3,927 4,024 4,498 4,815 5,028 5,974 5,974 Total Current Assets
-- -- -- -- -- -- -- 97.00 41.00 44.00 35.00 -- -- -- -- -- -- Investments And Advances
11,921 12,508 13,859 15,160 15,871 15,888 16,343 18,421 19,497 20,820 22,513 24,685 26,464 28,229 29,256 29,062 29,062 Gross Property, Plant and Equipment
-3,198 -3,296 -3,765 -4,286 -4,831 -5,254 -5,765 -6,294 -6,731 -7,431 -8,221 -9,084 -9,420 -9,690 -9,731 -10,688 -10,688 Accumulated Depreciation
8,723 9,212 10,094 10,874 11,040 10,634 10,578 12,127 12,766 13,389 14,292 15,601 17,044 18,539 19,525 18,374 18,374 Property, Plant and Equipment
-- -- -- -- -- -- -- 1,125 1,108 1,136 1,333 1,434 1,396 1,383 1,369 1,266 1,266 Intangible Assets
-- -- -- -- -- -- -- 970 970 970 970 970 970 970 970 970 970 Goodwill
442 1,171 765 1,455 375 277 606 374 454 320 136 253 348 373 321 281 281 Other Long Term Assets
11,337 14,003 13,460 16,772 14,068 14,269 15,463 18,068 18,596 19,345 19,723 21,312 23,286 25,110 26,243 25,895 25,895 Total Assets
420 524 643 759 668 746 739 1,057 174 189 123 178 138 186 263 304 304 Accounts Payable
-- -- -- -- -- -- -- 69.00 195 211 244 241 252 260 288 306 306 Total Tax Payable
1,467 2,598 1,966 3,866 1,680 1,442 1,602 1,696 1,865 2,059 2,055 2,294 1,989 2,269 2,419 2,462 2,462 Accounts Payable & Accrued
Expense
146 601 122 41.00 163 190 505 644 271 629 258 637 566 348 606 1,172 1,172 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 1,836 2,170 2,571 2,897 2,990 3,115 3,495 4,134 4,457 4,457 Current Deferred Revenue
-- -- -- -- -- -- -- 1,836 2,170 2,571 2,897 2,990 3,115 3,495 4,134 4,457 4,457 DeferredTaxAndRevenue
529 649 799 931 963 1,044 1,198 357 344 417 713 1,485 1,174 751 746 861 861 Other Current Liabilities
2,142 3,848 2,887 4,838 2,806 2,676 3,305 4,533 4,650 5,676 5,923 7,406 6,844 6,863 7,905 8,952 8,952 Total Current Liabilities
1,700 1,394 1,567 2,050 3,498 3,325 2,875 3,107 2,883 2,191 2,434 2,541 2,821 3,320 2,771 1,846 1,846 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 978 978 Capital Lease Obligation
1,700 1,394 1,567 2,050 3,498 3,325 2,875 3,107 2,883 2,191 2,434 2,541 2,821 3,320 2,771 2,824 2,824 Long-Term Debt & Capital Lease
Obligation
0.33 0.30 0.26 0.30 0.74 0.64 0.54 0.55 0.45 0.38 0.40 0.43 0.40 0.38 0.34 0.41 0.41 Debt to Equity
-- -- -- -- -- -- -- 107 148 138 169 201 256 275 232 288 288 PensionAndRetirementBenefit
1,971 2,086 2,557 2,641 2,009 2,309 2,581 2,766 3,088 3,162 3,009 2,712 3,578 3,426 3,610 3,730 3,730 NonCurrent Deferred Liabilities
-- -- -- 302 802 493 465 678 835 842 1,413 1,094 1,346 1,585 1,872 269 269 Other Long-Term Liabilities
5,813 7,328 7,011 9,831 9,115 8,803 9,226 11,191 11,604 12,009 12,948 13,954 14,845 15,469 16,390 16,063 16,063 Total Liabilities
790 802 808 808 808 808 808 808 808 808 808 808 808 808 808 808 808 Common Stock
4,089 4,018 4,307 4,788 4,919 4,983 5,399 5,395 5,768 6,431 7,416 9,409 11,418 13,832 15,967 17,945 17,945 Retained Earnings
417 892 582 1,241 -984 -578 -262 -224 -119 -3.00 -738 -1,051 -323 12.00 20.00 -61.00 -61.00 Accumulated other comprehensive
income (loss)
299 963 1,142 1,207 1,215 1,216 1,183 1,222 1,210 1,231 1,315 1,374 1,410 1,451 1,510 1,581 1,581 Additional Paid-In Capital
-71.00 -- -390 -1,103 -1,005 -963 -891 -324 -675 -1,131 -2,026 -3,182 -4,872 -6,462 -8,452 -10,441 -10,441 Treasury Stock
5,524 6,675 6,449 6,941 4,953 5,466 6,237 6,877 6,992 7,336 6,775 7,358 8,441 9,641 9,853 9,832 9,832 Total Equity
0.49 0.48 0.48 0.41 0.35 0.38 0.40 0.38 0.38 0.38 0.34 0.35 0.36 0.38 0.38 0.38 0.38 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LUV 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
313 484 499 645 178 99.00 459 178 421 754 1,136 2,181 2,183 3,357 2,465 2,300 2,300 Net Income
313 484 499 645 178 99.00 459 178 421 754 1,136 2,181 2,183 3,357 2,465 2,300 2,300 Net Income From Continuing
Operations
431 469 515 555 599 616 628 715 844 867 938 1,015 1,221 1,218 1,201 1,219 1,220 Depreciation, Depletion and
Amortization
-75.00 -9.00 -5.00 -38.00 71.00 40.00 -26.00 -26.00 -33.00 -17.00 54.00 -88.00 -50.00 -102 117 -94.00 -94.00 Change In Receivables
231 855 -223 1,609 -98.00 59.00 193 253 186 343 36.00 961 221 233 545 298 298 Change In Payables And Accrued
Expense
180 907 9.00 1,473 -2,256 153 312 293 383 680 558 1,070 279 212 941 606 605 Change In Working Capital
184 291 277 328 56.00 72.00 133 123 251 50.00 501 -109 419 -1,066 301 -55.00 -56.00 Change In DeferredTax
-- -- -- 37.00 18.00 13.00 -- -- -- -- -- -- -- -- -- -- -- Stock Based Compensation
49.00 -33.00 106 -193 -116 32.00 29.00 47.00 165 126 -231 -919 170 208 -15.00 -83.00 -83.00 Cash Flow from Others
1,157 2,118 1,406 2,845 -1,521 985 1,561 1,356 2,064 2,477 2,902 3,238 4,293 3,929 4,893 3,987 3,986 Cash Flow from Operations
-1,775 -1,146 -1,399 -1,331 -923 -585 -493 -968 -1,348 -14.00 -80.00 -102 -109 -126 -54.00 -1,027 -1,026 Purchase Of Property, Plant,
Equipment
-34.00 -6.00 -20.00 -- -- -- -- -35.00 -- -- -- -- -- -- -- -- -- Purchase Of Business
-- -1,804 -4,509 -5,086 -5,886 -6,106 -5,624 -5,362 -2,481 -3,135 -3,080 -1,986 -2,388 -2,380 -2,409 -2,122 -2,123 Purchase Of Investment
-- 1,810 4,392 4,888 5,831 5,120 4,852 5,343 2,996 3,198 3,185 2,223 2,263 2,221 2,342 2,446 2,446 Sale Of Investment
-41.00 -- 41.00 -- -- 2.00 -- -- -- -1,433 -1,752 -2,048 -2,038 -2,123 -1,917 400 400 Cash From Other Investing Activities
-1,850 -1,146 -1,495 -1,529 -978 -1,569 -1,265 -1,022 -833 -1,384 -1,727 -1,913 -2,272 -2,408 -2,038 -303 -303 Cash Flow from Investing
88.00 132 260 139 -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-246 -55.00 -800 -1,001 -54.00 -- -- -225 -400 -540 -955 -1,180 -1,750 -1,600 -2,000 -2,000 -2,000 Repurchase of Stock
313 151 -307 378 1,436 -45.00 -199 -621 -578 -313 -261 287 -76.00 8.00 -342 -615 -614 Net Issuance of Debt
-14.00 -14.00 -14.00 -14.00 -13.00 -13.00 -13.00 -14.00 -22.00 -71.00 -139 -180 -222 -274 -332 -372 -372 Cash Flow for Dividends
-8.00 46.00 60.00 144 285 388 63.00 94.00 53.00 73.00 107 49.00 124 160 178 -3.00 -3.00 Other Financing
133 260 -801 -493 1,654 330 -149 -766 -947 -851 -1,248 -1,024 -1,924 -1,706 -2,496 -2,990 -2,989 Cash Flow from Financing
-560 1,232 -890 823 -845 -254 147 -432 284 242 -73.00 301 97.00 -185 359 694 694 Net Change in Cash
-1,775 -1,146 -1,399 -1,331 -923 -585 -493 -968 -1,348 -1,447 -1,828 -2,143 -2,147 -2,249 -1,976 -1,027 -1,026 Capital Expenditure
-618 972 7.00 1,514 -2,444 400 1,068 388 716 1,030 1,074 1,095 2,146 1,680 2,917 2,960 2,960 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LUV 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
42.84 27.85 25.53 14.35 34.48 87.92 21.63 35.67 18.29 17.77 25.65 13.21 14.12 11.21 10.78 12.61 10.97 PE Ratio(TTM)
88.00 11.69 59.15 5.15 -- -- 15.45 21.14 6.91 9.27 14.93 10.60 12.62 20.69 8.71 12.27 10.67 Price to Owner Earnings
(TTM)
2.31 1.96 1.86 1.29 1.29 1.55 1.56 0.96 1.07 1.80 4.22 3.79 3.63 4.00 2.61 2.85 2.48 Price to Book
2.31 1.96 1.86 1.29 1.29 1.55 1.56 1.15 1.27 2.13 5.25 4.71 4.35 4.66 3.03 3.27 2.84 Price to Tangible Book
-- 13.51 1,702 6.18 -- 21.17 9.07 15.42 11.14 13.25 27.92 26.80 14.90 23.72 9.16 9.85 8.57 Price-to-Free-Cash-Flow
Ratio
11.46 6.23 9.03 3.29 -- 8.60 6.21 4.78 3.77 5.48 10.21 8.94 7.38 10.08 5.45 7.30 6.35 Price-to-Operating-Cash-
Flow Ratio
2.05 1.75 1.38 0.95 0.58 0.82 0.80 0.43 0.45 0.76 1.58 1.45 1.55 1.86 1.21 1.30 1.13 PS Ratio
-- -- 2.26 0.69 1.76 -- -- -- 3.19 0.83 1.18 0.43 0.35 0.34 0.56 1.37 1.00 PEG Ratio
2.04 1.65 1.31 0.84 0.75 0.91 0.79 0.46 0.45 0.73 1.52 1.41 1.52 1.84 1.16 1.25 1.08 EV-to-Revenue
-3.08 2.65 8.22 5.05 8.32 9.92 6.27 5.92 4.63 5.89 9.89 6.11 6.48 8.56 5.69 6.56 5.68 EV-to-EBITDA
-2.80 2.94 12.76 7.65 21.07 28.26 10.66 14.30 9.44 9.78 14.71 7.84 8.72 11.69 7.79 9.19 7.96 EV-to-EBIT
-35.71 34.01 7.84 13.07 4.75 3.54 9.38 6.99 10.59 10.22 6.80 12.76 11.47 8.55 12.84 10.88 12.56 Return on Capital %
-11.63 -1.98 11.76 23.77 17.43 -6.06 -23.69 -0.50 7.85 21.22 22.86 22.77 23.34 23.03 25.02 15.52 16.46 Forward Rate of Return
31.06 28.88 25.06 18.24 13.91 20.06 24.10 17.32 19.31 32.81 61.33 45.33 39.87 36.95 21.04 20.24 17.61 Shiller PE Ratio
0.12 0.12 0.13 0.16 0.23 0.17 0.15 0.23 0.34 0.69 0.52 0.66 0.75 0.69 1.30 1.30 1.48 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12,780 13,086 12,000 8,965 6,380 8,490 9,702 6,613 7,478 13,197 28,591 27,886 30,660 38,521 25,685 28,019 24,287 Market Cap
13,321 12,550 11,930 8,277 8,238 9,412 9,544 7,220 7,662 12,865 28,295 28,013 30,742 38,916 25,373 27,943 24,211 Enterprise Value
16.28 16.43 15.32 12.20 8.62 11.43 12.98 8.56 10.24 18.84 42.32 43.06 49.84 65.45 46.48 53.98 46.95 Month End Stock Price
-5.74 -6.02 -6.70 -9.60 -9.88 -8.36 -7.61 -10.42 -11.82 -12.64 -14.74 -16.84 -18.76 -20.72 -22.98 -23.10 -23.10 Net Cash (per share)
-4.64 -4.66 -5.63 -7.33 -8.73 -7.33 -6.62 -8.86 -10.10 -10.78 -13.35 -15.33 -16.82 -18.10 -20.56 -19.44 -19.44 Net Current Asset Value
(per share)
-5.66 -5.93 -6.59 -9.14 -9.53 -8.04 -7.25 -9.87 -11.16 -11.86 -14.08 -16.05 -17.82 -19.52 -21.80 -21.02 -21.02 Net-Net Working Capital (per
share)
4.98 8.52 8.60 13.01 3.89 5.42 10.59 9.41 11.97 11.72 24.75 29.22 36.78 45.28 58.17 65.63 65.63 Projected FCF (per share)
15.58 18.48 21.85 25.30 29.13 25.94 28.21 28.54 24.39 21.69 23.47 26.02 28.15 30.79 35.95 52.33 52.33 Median PS (per share)
9.63 16.83 6.79 17.62 4.90 0.99 5.31 2.17 3.21 22.59 35.84 81.50 88.25 146 82.97 39.46 39.46 Peter Lynch Fair Value (per
share)
7.76 10.64 10.63 13.36 6.01 4.64 10.70 6.21 10.08 14.46 17.24 25.94 29.82 41.93 38.50 39.82 39.87 Graham Number (per share)
-18.63 -14.63 -17.51 -7.79 -10.61 10.25 7.10 9.43 7.20 2.42 -0.13 -2.01 -0.60 6.36 14.07 22.56 22.56 Earnings Power Value
(EPV)
2.55 2.18 2.32 1.73 1.77 1.93 2.17 1.72 1.86 2.19 2.99 3.11 3.18 3.45 2.91 3.13 2.99 Altman Z-Score
5.00 6.00 5.00 7.00 3.00 5.00 7.00 5.00 6.00 8.00 7.00 7.00 5.00 6.00 5.00 5.00 5.00 Piotroski F-Score
-1.42 -2.36 -2.76 -2.73 -2.34 -2.97 -1.30 -1.66 -2.61 -2.78 -3.04 -2.48 -2.70 -2.32 -- -- -- Beneish M-Score
0.63 0.54 0.46 0.47 0.41 0.45 0.43 0.48 0.40 0.38 0.34 0.38 0.40 0.43 0.38 0.37 0.37 Scaled Net Operating
Assets
8.87 -3.48 4.37 -4.00 19.03 4.79 1.05 -0.86 -4.36 -1.75 -0.20 4.02 0.70 7.31 -1.49 -5.34 -5.34 Sloan Ratio (%)
1.01 0.94 0.90 0.92 0.95 1.25 1.29 0.96 0.91 0.79 0.66 0.54 0.66 0.70 0.64 0.67 0.67 Current Ratio
0.95 0.90 0.84 0.86 0.87 1.17 1.22 0.87 0.81 0.70 0.61 0.50 0.61 0.64 0.58 0.61 0.61 Quick Ratio
16.97 16.82 18.15 16.60 16.47 11.61 14.26 13.32 10.56 18.95 42.32 49.58 50.89 66.09 66.29 58.29 58.83 Highest Stock Price
13.21 13.14 14.62 12.20 7.28 5.01 10.63 7.35 7.88 10.24 18.84 32.36 34.72 49.46 44.40 45.61 44.34 Lowest Stock Price
0.56 -1.46 1.65 6.19 -0.73 -0.36 -0.63 -3.36 5.47 4.09 3.55 4.14 5.01 4.33 6.11 6.07 6.07 Shares Buyback Ratio (%)
8.00 18.59 18.13 15.62 16.15 -6.36 16.00 24.69 11.73 9.20 8.44 10.83 8.19 9.41 9.12 8.74 8.70 YoY Rev. per Sh. Growth
(%)
-17.39 57.89 1.67 37.70 -71.43 -45.83 369 -62.30 143 87.50 56.19 99.39 5.50 61.45 -22.98 -0.47 -0.70 YoY EPS Growth (%)
-523 137 19.66 27.39 -41.09 -4.06 59.76 -22.73 38.88 39.07 35.23 66.67 9.43 0.59 2.98 1.71 1.73 YoY EBITDA Growth (%)
-11.67 -3.14 11.31 20.73 19.61 -5.84 -24.30 -2.56 5.73 21.31 21.72 30.96 40.66 33.16 19.25 9.22 11.00 EBITDA 5-Y Growth (%)
783 793 792 759 735 741 746 774 750 710 687 661 627 601 573 538 526 Shares Outstanding (Basic
Average)
785 796 783 735 740 743 747 773 730 700 676 648 615 589 553 519 519 Shares Outstanding (EOP)
1.09 0.82 0.33 -0.31 0.66 1.15 1.26 1.33 0.83 0.97 0.62 1.30 0.99 1.13 1.61 1.68 1.67 Beta
02/04/05 02/01/06 02/01/07 02/04/08 02/02/09 01/29/10 02/08/11 02/09/12 02/07/13 02/04/14 02/06/15 02/03/16 02/07/17 02/07/18 02/05/19 02/04/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LUV 6/7
02/04/05 02/01/07 02/04/08 02/02/09 01/29/10 02/09/12 02/07/13 02/04/14 02/06/15 02/03/16 02/07/17 02/07/18 02/05/19 02/04/20 02/04/20 02/04/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LUV 7/7
Aflac Inc (NYSE:AFL) 03/02/2020 4:10PM EST GuruFocus
Price: $ 45.29 +2.44(+5.69%) Market Cap: $ 32.72 B Enterprise Value: $-56,866 Stock PDF
Financial Strength : 4/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 10.25
Cash to Debt 0.75 Net-margin (%) 14.86
Forward P/E N/A
Equity to Asset 0.19 ROE (%) 12.13
F-Score: PE(NRI) 10.25
ROA (%) 2.22
9999 P/B 1.14
Revenue Growth (3Y)(%) 3.10
P/S 1.52
EBITDA Growth (3Y)(%) 6.10
PFCF 6.20
EPS Growth (3Y)(%) 11.30
POCF 6.20
EV-to-EBIT -12.17
PEG 2.83
Shiller P/E 12.39
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Aflac Inc offers supplemental health insurance and life insurance in the two largest insurance markets in the world, the
U.S. and Japan. In addition to its cancer policies, the company has broadened its product offerings to include
2016 5,433 5,422 5,700 5,935 22,490 accident, disability, and long-term-care insurance. It markets its products through independent distributors, selling
2017 5,292 5,411 5,489 5,407 21,599 most of its policies directly to consumers at their places of work.... (Read More)
Good Signs 2018 5,448 5,571 5,562 5,110
, , ,
21,691 Competitors: TSX:MFC NYSE:PRU SHSE:601601 NYSE:MET LSE:PRU LSE:LGEN TSX:GWO
, , , ,
GREY:ODMUF, TSX:PWF, SHSE:601336, TSE:8750, BOM:540777, BOM:540719, NYSE:GL, XPAR:CNP,
Revenue per Share: 2019 5,640 5,493 5,519 5,569 22,221 NYSE:LNC, JSE:SLM, BOM:540133, TSX:POW, XKRX:032830
Consistent growth 2020
Insider Trades
Dividend Yield %: Close to 3- Quarterly Earnings per Share
year high Mar Jun Sep Dec Full Year
PE Ratio: Close to 1-year low 2016 0.87 0.66 0.77 0.92 3.21
2017 0.73 0.89 0.90 2.98 5.50
PB Ratio: Close to 10-year 2018 0.91 1.07 1.09 0.69 3.76
low 2019 1.23 1.09 1.04 1.06 4.42
PS Ratio: Close to 2-year low 2020
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
EPS without NRI: $4.42 2016 0.21 0.21 0.21 0.22 0.83
Growth Rate in the next 10 2017 0.22 0.22 0.22 0.23 0.87
years: 9.40% 2018 0.26 0.26 0.26 0.26 1.04
Terminal Growth Rate for 10 2019 0.27 0.27 0.27 0.27 1.08
years: 4% 2020
Fair Value: $62.71 Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Reverse DCF Revenue Growth (%) 3.20 3.90 6.30
Expected eps Growth Rate: EBITDA Growth (%) 7.00 3.60 15.30
4.31%
Free Cash Flow Growth (%) -2.20 0.30 -5.90
Book Value Growth (%) 14.40 14.30 28.30
EPS Growth (%) 9.40 8.60 17.50
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AFL 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.86 14.15 14.56 15.58 17.29 19.46 21.83 23.53 26.93 25.49 24.90 24.02 27.17 27.07 28.00 29.77 29.77 Revenue per Share
1.74 2.22 2.28 2.56 2.11 2.46 3.92 3.35 4.86 5.47 5.30 4.79 5.24 5.34 5.43 6.26 6.26 EBITDA per Share
1.74 2.22 2.28 2.56 2.03 2.46 3.92 3.35 4.86 5.47 5.30 4.79 5.24 5.34 5.43 6.26 6.26 EBIT per Share
1.23 1.46 1.48 1.66 1.31 1.60 2.46 2.06 3.06 3.38 3.25 2.93 3.21 5.77 3.77 4.43 4.42 Earnings per Share (diluted)
1.23 1.46 1.48 1.66 1.31 1.60 2.46 2.06 3.06 3.38 3.25 2.93 3.21 5.77 3.77 4.43 4.42 eps without NRI
4.22 4.56 4.45 -- -- -- -- -- -- -- -- -- -- -- -- -- 7.10 Owner Earnings per Share (TTM)
4.32 4.35 4.36 4.67 5.13 6.57 7.39 11.55 15.93 11.28 7.21 7.82 7.23 7.68 7.76 7.31 7.31 Free Cashflow per Share
0.19 0.22 0.28 0.40 0.48 0.56 0.57 0.62 0.67 0.71 0.75 0.79 0.83 0.87 1.04 1.08 1.08 Dividends per Share
7.55 7.96 8.48 9.26 7.10 8.98 11.77 13.88 17.08 15.91 20.73 20.86 25.24 31.50 31.06 39.85 39.85 Book Value per Share
7.55 7.96 8.48 9.26 7.10 8.98 11.77 13.88 17.08 15.91 20.73 20.86 25.24 31.50 31.06 39.85 39.85 Tangible Book per Share
1.42 1.40 1.45 2.39 1.84 2.77 3.23 3.52 4.65 5.33 5.97 5.86 6.60 6.77 7.65 9.04 9.04 Total Debt per Share
19.92 23.21 23.00 31.32 22.92 23.13 28.22 21.63 26.56 33.40 30.55 29.95 34.80 43.89 45.56 52.90 45.29 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17.80 19.13 18.23 19.07 16.25 19.89 23.91 16.14 19.82 20.64 17.90 14.05 13.93 20.43 12.15 12.61 12.13 Return on Equity %
2.30 2.56 2.55 2.60 1.73 1.83 2.51 1.78 2.32 2.50 2.45 2.13 2.14 3.45 2.10 2.25 2.22 Return on Assets %
21.03 22.67 18.03 18.34 15.10 19.32 23.76 -- -- -- -- -- -- -- -- -- -- Return on Invested Capital %
5.48 6.02 6.18 6.87 6.58 14.39 13.38 15.31 10.56 12.32 7.99 8.21 7.91 8.07 5.79 4.45 3.65 Weighted Average Cost Of Capital (WACC) %
1.62 1.63 1.35 1.46 1.45 3.33 5.29 6.20 6.84 6.34 6.23 5.64 5.19 4.51 4.01 3.69 3.73 Effective Interest Rate on Debt %
9.53 10.33 10.15 10.62 7.58 8.20 11.27 8.77 11.34 13.25 13.05 12.17 11.82 21.31 13.46 14.87 14.86 Net Margin %
33.62 30.75 29.93 29.95 29.70 33.75 33.83 49.08 59.16 44.26 28.97 32.56 26.62 28.37 27.73 24.55 24.55 FCF Margin %
0.19 0.18 0.17 0.26 0.26 0.31 0.28 0.25 0.27 0.34 0.29 0.28 0.26 0.22 0.25 0.23 0.23 Debt to Equity
0.13 0.14 0.14 0.13 0.08 0.10 0.11 0.11 0.12 0.12 0.15 0.15 0.16 0.18 0.17 0.19 0.19 Total Equity to Total Asset
0.02 0.03 0.02 0.04 0.02 0.03 0.03 0.03 0.03 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 Total Debt to Total Asset
24.08 24.83 25.16 24.51 22.81 22.34 22.32 20.33 20.44 18.88 18.75 17.49 18.13 16.18 15.62 15.16 14.93 Gross Profit to Total Asset %
0.24 0.25 0.25 0.25 0.23 0.22 0.22 0.20 0.20 0.19 0.19 0.18 0.18 0.16 0.16 0.15 0.15 Asset Turnover
0.16 0.15 0.19 0.24 0.37 0.35 0.23 0.30 0.22 0.21 0.23 0.27 0.26 0.15 0.28 0.24 0.24 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AFL 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
13,281 14,363 14,616 15,393 16,554 18,254 20,658 22,090 25,272 23,827 22,606 20,811 22,489 21,600 21,689 22,223 22,221 Revenue
13,281 14,363 14,616 15,393 16,554 18,254 20,658 22,090 25,272 23,827 22,606 20,811 22,489 21,600 21,689 22,223 22,221 Gross Profit
2,380 2,583 2,640 1,331 1,460 3,545 3,699 3,950 -- -- -- -- -- -- -- -- -- Selling, General, & Admin. Expense
10,901 11,780 11,976 14,062 15,094 14,709 16,959 18,140 25,272 23,827 22,606 20,811 22,489 21,600 21,689 22,223 22,221 Other Operating Expense
-23.00 -23.00 -19.00 -27.00 -29.00 -72.00 -149 -196 -261 -293 -317 -289 -268 -240 -222 -228 -229 Interest Expense
-23.00 -23.00 -19.00 -27.00 -29.00 -72.00 -149 -196 -261 -293 -317 -289 -268 -240 -222 -228 -229 Net Interest Income
1,773 2,226 2,264 2,499 1,914 2,235 3,561 2,950 4,302 4,816 4,491 3,862 4,067 4,018 3,983 4,445 4,444 Other Income (Expense)
1,773 2,226 2,264 2,499 1,914 2,235 3,561 2,950 4,302 4,816 4,491 3,862 4,067 4,018 3,983 4,445 4,444 Pre-Tax Income
-507 -743 -781 -865 -660 -738 -1,233 -1,013 -1,436 -1,658 -1,540 -1,329 -1,408 586 -1,063 -1,141 -1,141 Tax Provision
28.60 33.38 34.50 34.61 34.48 33.02 34.63 34.34 33.38 34.43 34.29 34.41 34.62 -14.58 26.69 25.67 25.68 Tax Rate %
1,266 1,483 1,483 1,634 1,254 1,497 2,328 1,937 2,866 3,158 2,951 2,533 2,659 4,604 2,920 3,304 3,303 Net Income (Continuing Operations)
1,266 1,483 1,483 1,634 1,254 1,497 2,328 1,937 2,866 3,158 2,951 2,533 2,659 4,604 2,920 3,304 3,303 Net Income
9.53 10.33 10.15 10.62 7.58 8.20 11.27 8.77 11.34 13.25 13.05 12.17 11.82 21.31 13.46 14.87 14.86 Net Margin %
1.25 1.48 1.50 1.68 1.33 1.61 2.48 2.08 3.07 3.40 3.27 2.94 3.23 5.81 3.79 4.45 4.45 EPS (Basic)
1.23 1.46 1.48 1.66 1.31 1.60 2.46 2.06 3.06 3.38 3.25 2.93 3.21 5.77 3.77 4.43 4.42 EPS (Diluted)
1,033 1,015 1,004 988 958 938 946 939 939 935 908 866 828 798 775 746 737 Shares Outstanding (Diluted
Average)
-- -- -- -- 74.00 -- -- -- -- -- -- -- -- -- -- -- -- Depreciation, Depletion and
Amortization
1,796 2,249 2,283 2,526 2,017 2,307 3,710 3,146 4,563 5,109 4,808 4,151 4,335 4,258 4,205 4,673 4,673 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AFL 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,813 1,297 1,203 1,563 941 2,323 2,121 2,249 2,041 2,543 4,658 4,350 4,859 3,491 4,337 4,896 4,896 Cash And Cash Equivalents
-- -- -- 61.00 -- 114 135 54,036 61,578 61,038 68,270 67,794 76,702 84,313 82,895 91,262 91,262 Marketable Securities
3,813 1,297 1,203 1,624 941 2,437 2,256 56,285 63,619 63,581 72,928 72,144 81,561 87,804 87,232 96,158 96,158 Cash, Cash Equivalents,
Marketable Securities
418 584 535 732 920 764 661 680 976 1,165 842 705 669 827 851 828 828 Accounts Receivable
4,231 1,881 1,738 2,356 1,861 3,201 2,917 56,965 64,595 64,746 73,770 72,849 82,230 88,631 88,083 96,986 96,986 Total Current Assets
48,101 47,635 50,711 55,493 67,522 70,869 86,109 101,045 116,004 105,453 102,512 101,253 110,052 116,766 114,200 122,149 122,149 Investments And Advances
515 448 458 496 597 593 620 617 564 481 429 427 433 434 443 581 581 Gross Property, Plant and
Equipment
515 448 458 496 597 593 620 617 564 481 429 427 433 434 443 581 581 Property, Plant and Equipment
6,479 6,397 6,898 7,460 9,351 9,443 11,393 -42,390 -50,069 -49,373 -56,944 -56,273 -62,896 -68,614 -62,320 -66,948 -66,948 Other Long Term Assets
59,326 56,361 59,805 65,805 79,331 84,106 101,039 116,237 131,094 121,307 119,767 118,256 129,819 137,217 140,406 152,768 152,768 Total Assets
2,887 622 807 -- 1,733 483 191 -- -- -- -- -- -- -- -- -- -- Accounts Payable
2,445 2,577 2,462 2,531 1,201 1,653 1,969 2,308 3,858 3,718 5,293 4,340 5,387 4,745 4,020 5,370 5,370 Total Tax Payable
5,332 3,199 3,269 2,531 2,934 2,136 2,160 3,146 10,135 9,538 7,486 5,281 5,913 5,351 5,072 7,246 7,246 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- 300 -- 649 548 -- -- -- Current Portion of Long-Term
Debt
5,332 3,199 3,269 2,531 2,934 2,136 2,160 3,146 10,135 9,538 7,786 5,281 6,562 5,899 5,072 7,246 7,246 Total Current Liabilities
1,429 1,395 1,426 2,273 1,721 2,599 3,038 3,275 4,343 4,891 4,968 4,951 4,690 4,719 5,765 6,408 6,408 Long-Term Debt
-- -- -- -- -- -- -- 10.00 9.00 6.00 14.00 20.00 21.00 22.00 13.00 161 161 Capital Lease Obligation
1,429 1,395 1,426 2,273 1,721 2,599 3,038 3,285 4,352 4,897 4,982 4,971 4,711 4,741 5,778 6,569 6,569 Long-Term Debt & Capital Lease
Obligation
0.19 0.18 0.17 0.26 0.26 0.31 0.28 0.25 0.27 0.34 0.29 0.28 0.26 0.22 0.25 0.23 0.23 Debt to Equity
44,989 43,840 46,769 52,206 68,037 70,954 84,785 96,860 100,629 92,252 88,652 90,296 98,064 101,979 106,094 109,994 109,994 Other Long-Term Liabilities
51,750 48,434 51,464 57,010 72,692 75,689 89,983 103,291 115,116 106,687 101,420 100,548 109,337 112,619 116,944 123,809 123,809 Total Liabilities
65.00 65.00 66.00 66.00 66.00 66.00 66.00 66.00 67.00 67.00 67.00 67.00 67.00 135 135 135 135 Common Stock
6,785 8,048 9,304 10,637 11,306 12,410 14,194 15,148 17,387 19,885 22,156 24,007 25,981 29,895 31,788 34,291 34,291 Retained Earnings
2,611 1,957 1,426 934 -582 29.00 862 1,965 2,715 -563 1,979 625 2,630 4,028 2,151 6,615 6,615 Accumulated other
comprehensive income (loss)
676 791 895 1,054 1,184 1,228 1,320 1,408 1,505 1,644 1,711 1,828 1,976 2,052 2,177 2,313 2,313 Additional Paid-In Capital
-2,561 -2,934 -3,350 -3,896 -5,335 -5,316 -5,386 -5,641 -5,696 -6,413 -7,566 -8,819 -10,172 -11,512 -12,789 -14,395 -14,395 Treasury Stock
7,576 7,927 8,341 8,795 6,639 8,417 11,056 12,946 15,978 14,620 18,347 17,708 20,482 24,598 23,462 28,959 28,959 Total Equity
0.13 0.14 0.14 0.13 0.08 0.10 0.11 0.11 0.12 0.12 0.15 0.15 0.16 0.18 0.17 0.19 0.19 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AFL 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,266 1,483 1,483 1,634 1,254 1,497 2,328 1,937 2,866 3,158 2,951 2,533 2,659 4,604 2,920 3,304 3,304 Net Income
1,266 1,483 1,483 1,634 1,254 1,497 2,328 1,937 2,866 3,158 2,951 2,533 2,659 4,604 2,920 3,304 3,304 Net Income From Continuing
Operations
-- -- -- -- 74.00 -- -- -- -- -- -- -- -- -- -- -- -- Depreciation, Depletion and
Amortization
159 -43.00 -41.00 -176 -10.00 406 1,078 25.00 -199 -8.00 -7.00 147 42.00 -91.00 -55.00 -32.00 -32.00 Change In Receivables
347 351 180 421 -271 139 137 266 712 993 123 -36.00 -93.00 -1,240 64.00 -244 -244 Change In Payables And Accrued
Expense
3,086 3,158 2,969 2,985 2,492 3,206 4,336 7,188 11,875 7,387 3,505 3,635 3,280 1,559 2,352 1,828 1,828 Change In Working Capital
134 -208 -55.00 37.00 1,145 1,458 325 1,717 211 2.00 94.00 608 48.00 -35.00 742 323 323 Cash Flow from Others
4,486 4,433 4,397 4,656 4,965 6,161 6,989 10,842 14,952 10,547 6,550 6,776 5,987 6,128 6,014 5,455 5,455 Cash Flow from Operations
-21.00 -16.00 -23.00 -46.00 -49.00 -- -- -- -- -- -- -- -- -- -- -- -- Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -83.00 -- -- -- -- -- -40.00 -- -- -- -- -- Purchase Of Business
-6,205 -8,894 -7,365 -6,768 -8,015 -11,690 -12,283 -27,387 -36,089 -31,666 -14,911 -9,150 -10,815 -11,140 -10,181 -7,943 -7,943 Purchase Of Investment
2,302 4,455 3,141 3,192 3,124 7,583 5,191 15,973 13,178 19,573 13,857 5,770 8,472 7,794 9,987 6,556 6,556 Sale Of Investment
2,506 -2,237 190 -32.00 657 -1,286 -340 585 5,959 1,002 -3,187 -1,477 -1,512 -2,085 -3,388 -1,784 -1,784 Cash From Other Investing Activities
-1,418 -6,692 -4,057 -3,654 -4,283 -5,476 -7,432 -10,829 -16,952 -11,091 -4,241 -4,897 -3,855 -5,431 -3,582 -3,171 -3,171 Cash Flow from Investing
39.00 50.00 42.00 47.00 32.00 17.00 45.00 26.00 32.00 88.00 33.00 36.00 46.00 33.00 58.00 49.00 49.00 Issuance of Stock
-392 -438 -470 -606 -1,490 -10.00 -121 -308 -118 -813 -1,210 -1,315 -1,422 -1,351 -1,301 -1,627 -1,627 Repurchase of Stock
-12.00 91.00 5.00 -5.00 -5.00 845 297 158 1,165 700 415 -274 376 -121 470 615 738 Net Issuance of Debt
-182 -209 -258 -373 -434 -524 -535 -552 -603 -635 -654 -656 -658 -661 -793 -771 -771 Cash Flow for Dividends
234 310 247 282 514 371 475 740 1,469 1,796 1,269 22.00 39.00 35.00 -50.00 21.00 368 Other Financing
-313 -196 -434 -655 -1,383 699 161 64.00 1,945 1,136 -147 -2,187 -1,619 -2,065 -1,616 -1,713 -1,713 Cash Flow from Financing
2,761 -2,516 -94.00 360 -622 1,382 -202 128 -208 502 2,115 -308 509 -1,368 846 559 559 Net Change in Cash
-21.00 -16.00 -23.00 -46.00 -49.00 -- -- -- -- -- -- -- -- -- -- -- -- Capital Expenditure
4,465 4,417 4,374 4,610 4,916 6,161 6,989 10,842 14,952 10,547 6,550 6,776 5,987 6,128 6,014 5,455 5,455 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AFL 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.20 15.90 15.65 18.92 17.50 14.50 11.45 10.50 8.69 9.90 9.39 10.22 10.84 7.99 12.12 11.97 10.25 PE Ratio(TTM)
4.72 5.09 5.17 -- -- -- -- -- -- -- -- -- -- -- -- -- 6.38 Price to Owner Earnings
(TTM)
2.64 2.92 2.71 3.38 3.23 2.58 2.40 1.56 1.56 2.10 1.47 1.44 1.38 1.39 1.47 1.33 1.14 Price to Book
2.64 2.92 2.71 3.38 3.23 2.58 2.40 1.56 1.56 2.10 1.47 1.44 1.38 1.39 1.47 1.33 1.14 Price to Tangible Book
4.59 5.32 5.25 6.65 4.42 3.52 3.82 1.87 1.67 2.96 4.23 3.83 4.81 5.72 5.87 7.24 6.20 Price-to-Free-Cash-Flow
Ratio
4.59 5.32 5.25 6.65 4.42 3.52 3.82 1.87 1.67 2.96 4.23 3.83 4.81 5.72 5.87 7.24 6.20 Price-to-Operating-Cash-
Flow Ratio
1.55 1.64 1.58 2.01 1.33 1.19 1.29 0.92 0.99 1.31 1.23 1.25 1.28 1.62 1.63 1.78 1.52 PS Ratio
1.70 0.94 0.78 1.01 1.17 3.64 1.90 1.19 0.55 0.43 0.56 1.10 3.05 -- 8.19 2.91 2.83 PEG Ratio
1.33 1.62 1.56 1.97 1.34 1.20 1.32 -1.49 -1.36 -1.17 -1.80 -2.01 -2.13 -2.23 -2.17 -2.30 -2.56 EV-to-Revenue
9.81 10.32 10.01 12.03 11.43 9.46 7.36 -10.44 -7.54 -5.48 -8.45 -10.06 -11.06 -11.33 -11.20 -10.94 -12.17 EV-to-EBITDA
9.81 10.32 10.01 12.03 11.43 9.46 7.36 -10.44 -7.54 -5.48 -8.45 -10.06 -11.06 -11.33 -11.20 -10.94 -12.17 EV-to-EBIT
10.19 9.69 9.99 8.31 8.75 10.57 13.59 -9.58 -13.26 -18.25 -11.83 -9.94 -9.04 -8.83 -8.93 -9.14 -8.22 Return on Capital %
25.40 31.74 36.39 31.94 34.66 25.51 25.73 41.06 50.19 50.87 51.06 44.95 32.61 19.40 18.78 18.53 20.95 Forward Rate of Return
29.66 29.03 24.79 29.41 20.18 18.40 19.50 13.44 14.40 15.74 13.33 12.33 13.27 14.38 13.66 14.48 12.39 Shiller PE Ratio
0.96 0.95 1.20 1.28 2.09 2.42 2.02 2.84 2.52 2.13 2.45 2.64 2.39 1.98 2.28 2.04 2.41 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
19,994 23,125 22,626 29,739 21,431 21,676 26,508 20,173 24,849 30,689 27,033 25,420 28,244 34,274 34,411 38,447 32,723 Market Cap
17,610 23,223 22,849 30,388 22,211 21,838 27,290 -32,827 -34,418 -27,995 -40,613 -41,753 -47,957 -48,241 -47,043 -51,142 -56,866 Enterprise Value
19.92 23.21 23.00 31.32 22.92 23.13 28.22 21.63 26.56 33.40 30.55 29.95 34.80 43.89 45.56 52.90 45.29 Month End Stock Price
-47.76 -47.31 -51.09 -58.33 -76.74 -78.17 -93.39 -50.40 -55.04 -46.91 -32.20 -33.47 -34.22 -31.78 -39.34 -38.05 -38.05 Net Cash (per share)
-47.45 -46.87 -50.68 -57.75 -76.00 -77.55 -92.87 -49.86 -54.26 -45.96 -31.48 -32.84 -33.60 -30.98 -38.49 -37.19 -37.19 Net-Net Working Capital (per
share)
53.49 58.50 62.65 68.48 64.65 62.58 76.60 101 141 157 148 125 128 127 112 112 112 Projected FCF (per share)
19.63 22.40 23.41 25.58 28.66 31.81 35.34 37.65 41.61 34.33 31.15 29.73 33.62 33.49 34.87 38.10 38.10 Median PS (per share)
11.71 24.78 29.37 31.11 19.56 -- 14.86 18.25 48.24 78.13 54.10 27.25 -- -- -- -- -- Peter Lynch Fair Value (per
share)
14.42 16.17 16.77 18.57 14.47 17.95 25.52 25.37 34.26 34.79 38.94 37.05 42.69 63.95 51.33 63.02 62.95 Graham Number (per share)
2.04 -0.41 -0.42 28.69 33.66 37.86 42.14 47.38 52.00 63.86 78.06 83.05 -- -- -- -- -0.67 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
0.10 0.14 0.15 0.16 0.11 0.11 0.14 0.14 0.16 0.13 0.16 0.15 0.18 0.20 0.18 0.22 0.20 Scaled Net Operating
Assets
-3.04 6.64 1.91 0.96 0.72 0.97 2.74 1.66 3.71 3.05 0.54 0.55 0.41 2.85 0.35 0.67 0.67 Sloan Ratio (%)
21.12 24.80 24.65 31.45 34.11 23.57 28.93 29.64 27.35 33.74 33.40 33.00 37.14 44.63 48.04 56.89 57.18 Highest Stock Price
17.48 17.85 21.23 22.82 15.19 5.75 20.24 15.73 19.23 24.33 27.90 27.62 27.78 33.57 41.63 44.37 41.92 Lowest Stock Price
1.78 0.73 1.26 3.48 1.53 -0.23 -0.23 0.71 -0.32 1.79 3.69 4.08 4.38 3.78 3.28 3.77 3.77 Shares Buyback Ratio (%)
17.31 10.00 2.96 6.99 10.94 12.57 12.21 7.78 14.42 -5.34 -2.32 -3.51 13.09 -0.35 3.42 6.34 6.34 YoY Rev. per Sh. Growth
(%)
66.67 19.18 1.03 12.20 -20.85 21.76 54.23 -16.26 48.30 10.64 -3.85 -10.00 9.74 79.75 -34.66 17.51 17.55 YoY EPS Growth (%)
48.89 27.37 2.71 12.40 -17.64 16.76 59.46 -14.54 45.09 12.40 -3.11 -9.52 9.31 1.91 1.71 15.33 15.42 YoY EBITDA Growth (%)
9.52 16.97 19.98 18.80 14.93 3.98 6.03 8.86 15.79 23.15 16.62 9.30 3.55 -0.11 1.48 4.12 3.60 EBITDA 5-Y Growth (%)
1,015 1,002 991 976 947 933 938 933 934 929 902 861 823 792 770 742 733 Shares Outstanding (Basic
Average)
1,004 996 984 950 935 937 939 933 936 919 885 849 812 781 755 727 734 Shares Outstanding (EOP)
0.26 0.32 0.30 0.52 0.81 1.97 1.83 2.51 1.61 1.74 1.08 1.14 1.06 1.05 0.57 0.46 0.45 Beta
03/10/05 02/28/06 02/28/07 02/29/08 02/20/09 02/26/10 02/25/11 02/27/12 02/27/13 02/27/14 02/26/15 02/25/16 02/24/17 02/23/18 02/25/19 02/21/20 Filing Date
02/28/07 02/29/08 02/29/08 02/26/10 02/26/10 02/25/11 02/27/13 02/27/14 02/26/15 02/25/16 02/24/17 02/23/18 02/25/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AFL 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AFL 7/7
Citigroup Inc (NYSE:C) 03/02/2020 4:10PM EST GuruFocus
Price: $ 67.59 +4.13(+6.51%) Market Cap: $ 142.38 B Enterprise Value: $-19,314 Stock PDF
Financial Strength : 3/10 Profitability & Growth : 4/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 8.41
Cash to Debt 0.66 Net-margin (%) 26.12
Forward P/E N/A
Equity to Asset 0.10 ROE (%) 9.25
F-Score: PE(NRI) 8.41
ROA (%) 0.99
9999 P/B 0.82
M-Score: Revenue Growth (3Y)(%) 10.20
-2.31 P/S 2.05
EPS Growth (3Y)(%) 19.30
Shiller P/E 16.54
Warning Signs Quarterly Revenues Company Description
Stock buyback: Poor Mar Jun Sep Dec Full Year Citigroup is a global financial services company doing business in more than 100 countries and jurisdictions.
Citigroup's operations are organized into two primary segments, the global consumer banking segment, which
buyback track record 2016 17,555 17,548 17,760 17,934 70,797 provides basic branch banking around the world, and the institutional clients group, which provides large customers
2017 18,366 18,155 18,419 17,504 72,444 around the globe with investment banking, cash management, and other products and services.... (Read More)
, , , , , , ,
2018 18,872 18,469 18,389 17,124 72,854 Competitors: SHSE:601288 LSE:HSBA SHSE:601988 NYSE:WFC TSX:RY SHSE:601939 ASX:CBA
Good Signs 2019 18,576 18,758 18,574 18,378
TSX:TD, TSX:BNS, XMAD:SAN, TSE:8306, ASX:WBC, SHSE:601398, ASX:NAB, SHSE:601328, ASX:ANZ,
74,286 TSX:BMO, XSWX:UBSG, TSE:8316, ADX:FAB
Dividend Yield %: Close to 2020
10-year high Insider Trades
Quarterly Earnings per Share
PE Ratio: Close to 1-year low Mar Jun Sep Dec Full Year
PB Ratio: Close to 1-year low 2016 1.10 1.24 1.24 1.14 4.72
2017 1.35 1.28 1.42 -7.15 -3.10
2018 1.68 1.63 1.73 1.64 6.68
DCF 2019 1.87 1.95 2.07 2.15 8.04
GuruFocus does not 2020
calculate intrinsic value: DCF Quarterly Dividends Per Share
(Earnings Based) for
companies with one star Mar Jun Sep Dec Full Year
predictability or not rated. But 2016 0.05 0.05 0.16 0.16 0.42
you can go to each stock's 2017 0.16 0.16 0.32 0.32 0.96
DCF page to calculate 2018 0.32 0.32 0.45 0.45 1.54
yourself. 2019 0.45 0.45 0.51 0.51 1.92
2020
Reverse DCF Growth Rate
GuruFocus does not Annual Rates(per share) 10-Y 5-Y 12-M
calculate reverse DCF growth Revenue Growth (%) -2.90 5.20 12.30
rate for companies with one
EBITDA Growth (%) 0.00 0.00 0.00
star predictability or not rated.
But you can go to each Free Cash Flow Growth (%) 0.00 0.00 -160.30
stock's DCF page to calculate Book Value Growth (%) 3.90 3.80 10.50
yourself. EPS Growth (%) 0.00 0.00 20.20
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/C 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
153 162 173 157 89.44 66.36 29.18 25.79 22.95 25.23 25.43 25.39 24.51 26.85 29.20 32.79 32.91 Revenue per Share
32.60 47.50 43.10 7.20 -56.30 -8.00 3.54 3.63 2.44 4.34 2.20 5.40 4.72 -2.98 6.68 8.04 8.04 Earnings per Share (diluted)
30.70 38.20 42.50 5.90 -63.90 -7.60 3.55 3.60 2.46 4.25 2.20 5.42 4.74 -2.94 6.69 8.04 8.04 eps without NRI
-34.18 53.92 -22.48 -174 171 -32.22 5.62 15.66 -11.49 14.87 9.21 12.30 12.76 -15.45 14.33 -18.30 -18.30 Owner Earnings per Share (TTM)
-10.40 61.98 -4.96 -143 163 -47.01 11.23 20.46 -4.63 19.65 14.15 12.15 17.65 -4.50 13.30 -8.02 -7.01 Free Cashflow per Share
16.00 17.60 19.60 21.60 11.20 0.10 -- 0.03 0.04 0.04 0.04 0.16 0.42 0.96 1.54 1.92 1.92 Dividends per Share
208 216 242 207 125 53.50 56.15 60.71 61.57 65.23 66.05 69.46 74.26 70.62 75.05 82.90 82.90 Book Value per Share
117 123 141 90.75 42.35 39.23 43.00 48.88 50.57 54.41 56.12 60.03 64.04 59.96 63.54 70.16 70.16 Tangible Book per Share
510 552 793 1,047 857 152 158 129 96.24 92.45 93.06 75.29 85.44 109 112 139 139 Total Debt per Share
482 485 557 294 67.10 33.10 47.30 26.31 39.56 52.11 54.11 51.75 59.43 74.41 52.06 79.89 67.59 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.38 22.11 18.49 3.07 -23.24 -6.28 6.64 6.36 4.01 6.71 3.23 7.52 6.10 -3.78 8.40 9.33 9.25 Return on Equity %
1.24 1.65 1.28 0.18 -1.34 -0.08 0.56 0.58 0.40 0.73 0.39 0.97 0.85 -0.37 0.96 1.00 0.99 Return on Assets %
10.15 9.81 10.35 12.49 6.86 5.35 6.64 6.76 6.00 7.88 6.44 5.65 7.08 5.96 5.22 10.19 9.72 Weighted Average Cost Of Capital (WACC) %
8.94 13.36 16.53 15.80 9.95 6.03 5.62 5.78 6.16 5.66 4.88 4.73 5.45 6.38 8.90 10.45 10.32 Effective Interest Rate on Debt %
21.41 29.40 24.95 4.61 -53.65 -2.00 12.24 14.31 10.90 17.80 9.47 22.58 21.06 -9.38 24.77 26.12 26.12 Net Margin %
-6.80 38.26 -2.86 -91.00 182 -70.84 38.48 79.33 -20.18 77.88 55.63 47.85 72.00 -16.75 45.54 -24.46 -24.46 FCF Margin %
2.42 2.53 3.25 5.06 3.43 2.84 2.81 2.13 1.54 1.37 1.34 1.00 1.05 1.40 1.35 1.52 1.52 Debt to Equity
0.07 0.08 0.06 0.05 0.07 0.08 0.09 0.10 0.10 0.11 0.11 0.13 0.13 0.11 0.10 0.10 0.10 Total Equity to Total Asset
0.18 0.19 0.21 0.26 0.25 0.23 0.24 0.20 0.16 0.15 0.15 0.13 0.13 0.15 0.14 0.15 0.15 Total Debt to Total Asset
5.80 5.62 5.11 3.86 2.50 4.23 4.59 4.08 3.70 4.10 4.15 4.27 4.02 3.99 3.88 3.84 3.78 Gross Profit to Total Asset %
0.06 0.06 0.05 0.04 0.03 0.04 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 Asset Turnover
0.52 0.46 0.46 3.66 -- -- -- 0.01 0.02 0.01 0.02 0.03 0.09 -- 0.23 0.24 0.24 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/C 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
79,635 83,642 86,327 78,495 51,599 80,285 86,601 77,331 69,190 76,724 77,219 76,354 70,797 72,444 72,854 74,286 74,286 Revenue
79,635 83,642 86,327 78,495 51,599 80,285 86,601 77,331 69,190 76,724 77,219 76,354 70,797 72,444 72,854 74,286 74,286 Gross Profit
26,471 29,172 33,190 37,630 39,277 31,617 30,999 32,937 33,112 31,991 32,239 29,897 29,303 29,698 29,892 30,026 30,026 Selling, General, & Admin. Expense
53,164 54,470 53,137 40,865 12,322 48,668 55,602 44,394 36,078 44,733 44,980 46,457 41,494 42,746 42,962 44,260 44,260 Other Operating Expense
63,683 75,922 93,611 121,429 106,499 76,635 78,960 71,541 66,965 62,533 61,238 58,163 57,813 61,579 70,828 76,510 76,510 Interest Income
-22,004 -36,676 -55,683 -76,051 -52,750 -27,721 -25,096 -24,209 -20,612 -16,177 -13,690 -11,921 -12,512 -16,518 -24,266 -29,163 -29,163 Interest Expense
41,679 39,246 37,928 45,378 53,749 48,914 53,864 47,332 46,353 46,356 47,548 46,242 45,301 45,061 46,562 47,347 47,347 Net Interest Income
22,518 28,884 28,200 491 -52,355 -7,799 13,184 14,722 7,825 19,802 14,701 24,826 21,477 22,761 23,445 23,901 23,901 Other Income (Expense)
-218 -549 -289 -285 343 -95.00 -281 -148 -219 -227 -192 -90.00 -63.00 -60.00 -35.00 -66.00 -66.00 Other Income (Minority Interest)
22,518 28,884 28,200 491 -52,355 -7,799 13,184 14,722 7,825 19,802 14,701 24,826 21,477 22,761 23,445 23,901 23,901 Pre-Tax Income
-6,464 -9,078 -7,749 2,498 20,326 6,733 -2,233 -3,575 -7.00 -6,186 -7,197 -7,440 -6,444 -29,388 -5,357 -4,430 -4,430 Tax Provision
28.71 31.43 27.48 -509 38.82 86.33 16.94 24.28 0.09 31.24 48.96 29.97 30.00 129 22.85 18.53 18.53 Tax Rate %
16,054 19,806 20,451 2,989 -32,029 -1,066 10,951 11,147 7,818 13,616 7,504 17,386 15,033 -6,627 18,088 19,471 19,471 Net Income (Continuing Operations)
992 4,832 1,087 628 4,002 -445 -68.00 68.00 -58.00 270 -2.00 -54.00 -58.00 -111 -8.00 -4.00 -4.00 Net Income (Discontinued
Operations)
17,046 24,589 21,538 3,617 -27,684 -1,606 10,602 11,067 7,541 13,659 7,310 17,242 14,912 -6,798 18,045 19,401 19,401 Net Income
21.41 29.40 24.95 4.61 -53.65 -2.00 12.24 14.31 10.90 17.80 9.47 22.58 21.06 -9.38 24.77 26.12 26.12 Net Margin %
68.00 68.00 64.00 36.00 1,695 7,638 9.00 26.00 26.00 194 511 769 1,077 1,213 1,174 1,109 1,109 Preferred dividends
33.20 48.40 43.90 7.30 -56.30 -8.00 3.65 3.73 2.51 4.35 2.21 5.41 4.72 -2.98 6.69 8.08 8.24 EPS (Basic)
32.60 47.50 43.10 7.20 -56.30 -8.00 3.54 3.63 2.44 4.34 2.20 5.40 4.72 -2.98 6.68 8.04 8.04 EPS (Diluted)
521 516 499 500 577 1,210 2,968 2,999 3,016 3,042 3,037 3,008 2,888 2,699 2,495 2,265 2,167 Shares Outstanding (Diluted
Average)
687 2,592 2,790 2,790 2,466 2,853 2,664 2,872 2,507 3,303 3,589 3,506 3,720 3,659 3,754 3,905 3,905 Depreciation, Depletion and
Amortization
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/C 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
47,445 55,277 69,036 107,572 199,584 192,886 190,409 184,485 138,587 198,890 160,197 133,097 160,494 180,516 188,105 193,919 193,919 Cash And Cash
Equivalents
-- -- -- -- -- -- -- 265,204 288,695 286,511 300,143 299,136 299,424 290,725 288,038 280,265 280,265 Marketable
Securities
47,445 55,277 69,036 107,572 199,584 192,886 190,409 449,689 427,282 485,401 460,340 432,233 459,918 471,241 476,143 474,184 474,184 Cash, Cash
Equivalents,
Marketable Securities
-- -- -- -- -- 33,634 31,213 -- -- -- -- -- -- -- 14,415 15,912 15,912 Accounts Receivable
86,718 98,100 113,481 164,931 243,862 226,520 221,622 477,466 449,772 511,075 488,759 459,916 488,805 509,625 511,593 514,041 514,041 Total Current Assets
493,410 476,417 667,516 753,992 633,655 648,892 635,436 490,081 541,566 511,481 526,038 584,170 597,229 605,080 614,724 644,703 644,703 Investments And
Advances
47,263 47,879 49,316 63,740 46,948 40,636 38,210 34,582 33,312 32,783 30,003 27,851 28,337 27,402 27,266 26,948 26,948 Intangible Assets
-- -- -- -- 27,132 25,392 26,152 25,413 25,673 25,009 23,592 22,349 21,659 22,256 22,046 22,126 22,126 Goodwill
856,710 871,641 1,054,005 1,204,817 1,014,005 940,598 1,018,634 871,749 840,010 825,043 797,381 659,273 677,706 700,358 763,800 765,466 765,466 Other Long Term
Assets
1,484,101 1,494,037 1,884,318 2,187,480 1,938,470 1,856,646 1,913,902 1,873,878 1,864,660 1,880,382 1,842,181 1,731,210 1,792,077 1,842,465 1,917,383 1,951,158 1,951,158 Total Assets
-- -- -- -- 70,916 60,846 51,749 56,696 57,013 53,707 52,180 53,722 57,152 61,342 64,571 48,601 48,601 Accounts Payable
50,208 70,994 85,119 84,951 70,916 60,846 51,749 56,696 57,013 53,707 52,180 53,722 57,152 61,342 64,571 48,601 48,601 Accounts Payable &
Accrued Expense
56,767 66,930 100,833 146,488 126,691 68,879 78,790 54,441 52,027 58,944 58,335 21,079 30,701 44,452 32,346 45,049 45,049 Current Portion of
Long-Term Debt
106,975 137,924 185,952 231,439 197,607 129,725 130,539 111,137 109,040 112,651 110,515 74,801 87,853 105,794 96,917 93,650 93,650 Total Current
Liabilities
207,910 217,499 288,494 427,112 359,593 364,019 381,183 323,505 239,463 221,116 223,080 201,275 206,178 236,709 231,999 248,760 248,760 Long-Term Debt
207,910 217,499 288,494 427,112 359,593 364,019 381,183 323,505 239,463 221,116 223,080 201,275 206,178 236,709 231,999 248,760 248,760 Long-Term Debt &
Capital Lease
Obligation
2.42 2.53 3.25 5.06 3.43 2.84 2.81 2.13 1.54 1.37 1.34 1.00 1.05 1.40 1.35 1.52 1.52 Debt to Equity
-- -- -- -- 2,392 2,273 2,321 1,767 1,948 1,794 1,511 1,235 1,023 932 854 704 704 Minority Interest
1,059,925 1,026,077 1,290,089 1,415,482 1,237,248 1,207,929 1,236,391 1,259,663 1,325,160 1,340,482 1,296,890 1,232,042 1,271,903 1,298,290 1,391,393 1,414,802 1,414,802 Other Long-Term
Liabilities
1,374,810 1,381,500 1,764,535 2,074,033 1,794,448 1,701,673 1,748,113 1,694,305 1,673,663 1,674,249 1,630,485 1,508,118 1,565,934 1,640,793 1,720,309 1,757,212 1,757,212 Total Liabilities
55.00 55.00 55.00 55.00 57.00 286 29.00 29.00 30.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00 Common Stock
1,125 1,125 1,000 -- 70,664 312 312 312 2,562 6,738 10,468 16,718 19,253 19,253 18,460 17,980 17,980 Preferred Stock
102,154 117,555 129,267 121,769 86,521 77,440 79,559 90,520 97,809 111,168 117,852 133,841 146,477 138,425 151,347 165,369 165,369 Retained Earnings
-2,250 -2,532 -3,700 -4,660 -25,195 -18,937 -16,277 -17,788 -16,896 -19,133 -23,216 -29,344 -32,381 -34,668 -37,170 -36,318 -36,318 Accumulated other
comprehensive
income (loss)
18,851 17,483 18,253 18,007 19,165 98,142 101,287 105,804 106,391 107,193 107,979 108,288 108,042 108,008 107,922 107,840 107,840 Additional Paid-In
Capital
-10,644 -21,149 -25,092 -21,724 -9,582 -4,543 -1,442 -1,071 -847 -1,658 -2,929 -7,677 -16,302 -30,309 -44,370 -61,660 -61,660 Treasury Stock
109,291 112,537 119,783 113,447 141,630 152,700 163,468 177,806 189,049 204,339 210,185 221,857 225,120 200,740 196,220 193,242 193,242 Total Equity
0.07 0.08 0.06 0.05 0.07 0.08 0.09 0.10 0.10 0.11 0.11 0.13 0.13 0.11 0.10 0.10 0.10 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/C 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17,046 24,589 21,538 3,617 -27,684 -1,161 10,670 10,999 7,599 13,389 7,312 17,296 14,970 -6,687 18,053 19,405 19,405 Net Income
17,046 24,589 21,538 3,617 -27,684 -1,161 10,670 10,999 7,599 13,389 7,312 17,296 14,970 -6,687 18,053 19,405 19,405 Net Income From Continuing
Operations
687 2,592 2,790 2,790 2,466 2,853 2,664 2,872 2,507 3,303 3,589 3,506 3,720 3,659 3,754 3,905 3,905 Depreciation, Depletion and
Amortization
-- -- -- -- -954 1,847 -6,676 8,383 945 -6,490 -4,272 2,278 2,226 -5,307 6,163 -20,377 -20,377 Change In Receivables
-33,427 2,374 -33,118 -91,394 128,279 -90,777 5,701 35,488 -41,876 31,193 20,283 19,210 20,566 -33,881 15,937 -59,268 -59,268 Change In Working Capital
-983 -181 102 -3,928 -20,535 -7,709 -964 -74.00 -4,091 2,699 3,347 2,794 1,459 24,877 -51.00 -610 -- Change In DeferredTax
-- -- -- -- -377 23.00 214 2,653 6.00 -10.00 -- -- -- -- -- -- -- Cash Flow from Discontinued
Operations
14,273 2,624 8,644 17,485 13,994 42,184 17,615 15,510 25,499 12,660 11,812 -3,069 13,018 3,258 -741 23,731 23,121 Cash Flow from Others
-2,404 31,998 -44.00 -71,430 96,520 -54,610 35,686 64,795 -10,362 63,244 46,343 39,737 53,733 -8,774 36,952 -12,837 -12,837 Cash Flow from Operations
-3,011 -- -2,429 -- -2,541 -2,264 -2,363 -3,448 -3,604 -3,490 -3,386 -3,198 -2,756 -3,361 -3,774 -5,336 -5,336 Purchase Of Property, Plant,
Equipment
-- -- -- -- 23,966 6,303 2,619 1,323 1,089 716 623 577 667 377 212 259 259 Sale Of Property, Plant,
Equipment
-- -- -- -- -- -- -- -- -- -- -1,255 -18,929 -- -- -- -- -- Purchase Of Business
-- -- -- -- -- -- -- -- -- -- 346 5,932 265 3,411 314 -- -- Sale Of Business
-195,932 -203,023 -296,124 -274,426 -344,336 -281,115 -406,046 -314,250 -256,907 -220,823 -258,992 -242,362 -211,402 -185,740 -152,487 -274,491 -274,491 Purchase Of Investment
175,788 180,264 208,110 333,099 302,978 219,009 373,502 322,525 245,873 215,931 229,941 223,517 197,708 191,737 145,095 256,224 256,224 Sale Of Investment
-56,076 -37,464 -113,763 -121,050 -57,678 95,235 75,625 -14,922 43,884 -83,672 61,305 49,346 -38,617 -45,175 -62,478 -30.00 -30.00 Cash From Other Investing
Activities
-79,231 -60,223 -204,206 -62,377 -77,611 37,168 43,337 -8,772 30,335 -91,338 28,582 14,883 -54,135 -38,751 -73,118 -23,374 -23,374 Cash Flow from Investing
-- -- -- -- 6,864 17,514 3,750 3,750 -- -- -- -- -- -- -- -- -- Issuance of Stock
133 -11,394 -5,202 397 -7.00 -3.00 -6.00 -1.00 -5.00 -837 -1,232 -5,452 -9,290 -14,541 -14,433 -17,571 -17,571 Repurchase of Stock
-- -- -125 -1,000 70,626 -- -- -- 2,250 4,098 3,699 6,227 2,498 -- -793 -484 -484 Net Issuance of Preferred
Stock
21,715 26,651 101,122 63,404 -56,283 -62,866 -89,422 -83,916 -91,896 -9,390 6,814 -45,480 17,968 40,725 -9,583 20,808 20,808 Net Issuance of Debt
-8,375 -9,188 -9,826 -10,778 -7,526 -3,237 -9.00 -107 -143 -314 -633 -1,253 -2,287 -3,797 -5,020 -5,447 -5,447 Cash Flow for Dividends
69,838 27,015 120,518 92,471 -38,211 61,598 8,259 23,628 77,293 29,537 -78,918 -18,815 19,403 44,467 74,357 45,627 45,627 Other Financing
83,311 33,084 206,487 144,494 -24,537 13,006 -77,428 -56,646 -12,501 23,094 -70,270 -64,773 28,292 66,854 44,528 42,933 42,933 Cash Flow from Financing
2,407 3,019 2,882 11,692 -8,576 -3,804 2,286 -1,924 7,746 -6,558 2,223 -11,208 27,397 20,022 7,589 5,814 5,814 Net Change in Cash
-3,011 -- -2,429 -- -2,541 -2,264 -2,363 -3,448 -3,604 -3,490 -3,386 -3,198 -2,756 -3,361 -3,774 -5,336 -5,336 Capital Expenditure
-5,415 31,998 -2,473 -71,430 93,979 -56,874 33,323 61,347 -13,966 59,754 42,957 36,539 50,977 -12,135 33,178 -18,173 -18,173 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/C 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
14.73 10.22 12.95 43.29 -- -- 13.32 7.27 16.10 11.92 24.60 9.60 12.59 -- 7.79 9.94 8.41 PE Ratio(TTM)
-- 9.00 -- -- 0.39 -- 8.42 1.68 -- 3.50 5.87 4.21 4.66 -- 3.63 -- -- Price to Owner Earnings
(TTM)
2.31 2.25 2.30 1.42 0.54 0.62 0.84 0.43 0.64 0.80 0.82 0.75 0.80 1.05 0.69 0.96 0.82 Price to Book
4.11 3.94 3.94 3.24 1.58 0.84 1.10 0.54 0.78 0.96 0.96 0.86 0.93 1.24 0.82 1.14 0.96 Price to Tangible Book
-- 8.63 -- -- 0.41 -- 4.16 1.29 -- 2.65 3.83 4.27 3.33 -- 3.90 -- -- Price-to-Free-Cash-Flow
Ratio
-- 8.37 -- -- 0.40 -- 3.89 1.22 -- 2.51 3.55 3.92 3.17 -- 3.50 -- -- Price-to-Operating-Cash-
Flow Ratio
3.14 2.99 3.22 1.84 0.74 0.30 1.62 1.02 1.72 2.07 2.13 2.04 2.42 2.77 1.78 2.43 2.05 PS Ratio
9.69 3.34 2.07 -- -- -- -- -- -- -- -- 0.85 0.75 -- -- -- -- PEG Ratio
5.86 5.75 6.89 7.86 7.67 4.27 4.73 0.09 -0.16 -0.51 -0.04 -0.51 -0.54 0.29 -0.95 0.10 -0.26 EV-to-Revenue
19.92 15.01 19.02 160 -7.96 -68.11 25.85 15.49 26.77 10.71 16.23 8.90 10.01 11.81 -- -- -- EV-to-EBITDA
3.81 8.12 9.31 -10.54 -69.70 -135 -96.61 -170 -- -- 9.72 35.30 39.07 31.36 -- -- -- Forward Rate of Return
16.91 14.75 16.46 9.10 2.69 1.47 2.38 1.52 2.80 4.98 8.15 33.90 -- -- 17.71 19.55 16.54 Shiller PE Ratio
3.32 3.63 3.52 7.34 16.69 0.30 -- 0.11 0.10 0.08 0.07 0.31 0.71 1.29 2.96 2.40 2.94 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
250,278 250,267 273,598 161,255 38,057 94,280 137,446 76,927 119,822 157,854 163,624 152,832 164,763 191,227 123,303 168,895 142,377 Market Cap
468,635 480,544 594,889 627,283 397,813 336,877 409,643 7,263 -11,460 -38,955 -3,322 -39,094 -38,000 21,332 -69,181 7,204 -19,314 Enterprise Value
482 485 557 294 67.10 33.10 47.30 26.31 39.56 52.11 54.11 51.75 59.43 74.41 52.06 79.89 67.59 Month End Stock Price
-2,555 -2,572 -3,452 -3,590 -2,816 -531 -537 -426 -412 -393 -387 -365 -399 -455 -526 -607 -607 Net Cash (per share)
-2,557 -2,574 -3,454 -3,590 -2,941 -522 -529 -426 -413 -395 -391 -370 -406 -463 -529 -610 -610 Net-Net Working Capital
(per share)
291 374 382 61.45 267 36.21 58.03 77.49 74.06 147 122 177 198 162 205 170 170 Projected FCF (per share)
375 462 508 473 266 323 83.61 67.17 43.52 46.97 46.99 46.08 41.76 47.37 55.92 66.75 66.75 Median PS (per share)
768 -- 269 36.14 -615 -- -- -- -- -- -- 60.76 78.76 -52.33 -- -- -- Peter Lynch Fair Value (per
share)
285 325 368 110 -- -- 58.60 62.92 52.91 72.13 52.71 85.56 82.64 -- 97.80 113 113 Graham Number (per share)
-453 -493 -691 -977 -526 -90.84 -96.62 16.79 36.46 58.46 48.88 60.06 68.83 63.55 77.68 68.95 68.95 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-2.40 -2.52 -2.43 -2.50 -3.20 -1.78 -2.58 -3.68 -2.48 -2.49 -2.58 -2.50 -2.67 -2.50 -2.49 -2.31 -2.31 Beneish M-Score
0.26 0.23 0.30 0.31 0.20 0.20 0.23 0.20 0.18 0.15 0.18 0.17 0.18 0.17 0.15 0.15 0.15 Scaled Net Operating
Assets
6.65 3.53 11.98 6.28 -2.40 0.85 -3.57 -2.40 -0.67 2.22 -3.67 -2.16 0.85 2.21 2.83 2.85 2.85 Sloan Ratio (%)
523 498 564 557 297 74.60 49.70 51.30 40.17 53.29 56.37 60.34 61.09 77.10 80.08 79.89 83.11 Highest Stock Price
426 431 451 293 37.70 10.20 31.50 23.11 24.82 39.56 45.68 46.95 34.98 55.68 49.26 52.06 60.05 Lowest Stock Price
-0.73 0.73 4.75 -11.51 -3.55 -402 -2.02 -0.62 -3.59 -0.01 0.18 2.34 6.13 7.30 7.84 10.74 10.74 Shares Buyback Ratio (%)
2.55 5.96 6.86 -9.24 -43.08 -25.81 -56.02 -11.63 -11.02 9.94 0.80 -0.16 -3.44 9.52 8.78 12.30 12.73 YoY Rev. per Sh. Growth
(%)
-4.68 45.71 -9.26 -83.29 -882 85.79 144 2.54 -32.78 77.87 -49.31 145 -12.59 -163 324 20.36 20.36 YoY EPS Growth (%)
1.62 3.79 6.34 -3.36 -- -- -- -- -- -- -5.47 11.21 16.58 17.80 -- -- -- EBITDA 5-Y Growth (%)
511 507 489 491 527 1,157 2,878 2,910 2,931 3,036 3,032 3,004 2,888 2,699 2,493 2,249 2,150 Shares Outstanding (Basic
Average)
519 516 491 548 567 2,848 2,906 2,924 3,029 3,029 3,024 2,953 2,772 2,570 2,368 2,114 2,114 Shares Outstanding (EOP)
1.46 0.83 0.45 1.21 1.72 2.90 2.61 3.02 1.88 2.28 1.81 1.45 1.56 1.66 1.70 1.90 1.90 Beta
02/28/05 02/24/06 02/23/07 02/22/08 02/27/09 02/26/10 02/25/11 02/24/12 03/01/13 03/03/14 02/25/15 02/26/16 02/24/17 02/23/18 02/22/19 02/21/20 Filing Date
02/24/06 02/23/07 02/22/08 02/27/09 02/26/10 02/25/11 03/01/13 03/03/14 02/25/15 02/26/16 02/24/17 02/23/18 02/22/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/C 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/C 7/7
Global Payments Inc (NYSE:GPN) 03/02/2020 4:10PM EST GuruFocus
Price: $ 192.39 +8.42(+4.58%) Market Cap: $ 57.65 B Enterprise Value: $65.84 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 81.52
Cash to Debt 0.17 Operating margin (%) 16.11
Forward P/E N/A
Equity to Asset 0.63 Net-margin (%) 8.77
PE(NRI) 81.52
Interest Coverage 2.60 ROE (%) 3.19
F-Score:
P/B 2.07
ROA (%) 1.63
6 P/S 7.89
Z-Score: ROC (Joel Greenblatt) (%) 84.89
2.37 PFCF 30.39
Revenue Growth (3Y)(%) 4.30
M-Score: POCF 24.31
-1.07 EBITDA Growth (3Y)(%) 22.50
EV-to-EBIT 80.02
WACC vs 6.00% EPS Growth (3Y)(%) 1.90
ROIC 3.55% PEG 4.14
WACC
ROIC Shiller P/E 91.23
Current Ratio 1.22
Quick Ratio 1.22
Days Sales Outstanding 66.52
Warning Signs Quarterly Revenues Company Description
Price: Close to 10-year high Mar Jun Sep Dec Full Year Global Payments is a leading provider of payment processing and software solutions and focuses on serving small
and midsize merchants. The company operates in 30 countries and generates about one fourth of its revenue from
2016 680 747 939 942 3,308 outside North America, primarily in Europe and Asia. Global Payments recently announced its intention to merge with
PE Ratio: Close to 10-year
2017 920 962 1,039 1,054 3,975 Total System Services in an all-stock deal that will give Total System Services shareholders 48% of the combined
high company's shares.... (Read More)
2018 795 833 858 881 3,366
Competitors: NAS:CTAS, NYSE:FDC, NAS:CPRT, XPAR:SW, ASX:BXB, LSE:RTO, TSE:7912 , NYSE:IAA,
PS Ratio: Close to 10-year 2019 883 935 1,106 1,988 4,912 LSE:HSV, LSE:IWG, TSX:RBA, NYSE:MMS, XPAR:ELIS, OCSE:ISS, NYSE:UNF, NYSE:WNS, TSE:4666, TSE:8876,
high 2020 XBRU:SHUR, LSE:CPI
ROIC vs. WACC: Return on Quarterly Earnings per Share Insider Trades
invested capital is less than
Mar Jun Sep Dec Full Year
weighted average cost of
2016 0.53 0.26 0.55 0.32 1.66
capital.
2017 0.32 0.44 0.71 1.51 2.98
Insider Sell: Insider Selling 2018 0.57 0.68 1.11 0.47 2.83
2019 0.71 0.77 0.54 0.34 2.36
2020
Good Signs
Quarterly Dividends Per Share
Revenue per Share:
Consistent growth Mar Jun Sep Dec Full Year
2016 0.01 0.01 0.01 0.01 0.04
Operating Margin %: 2017 0.01 0.01 0.01 0.01 0.04
Expansion 2018 0.01 0.01 0.01 0.01 0.04
Dividend Yield %: Close to 5- 2019 0.01 0.01 0.01 0.20 0.23
year high 2020
Growth Rate
DCF Annual Rates(per share) 10-Y 5-Y 12-M
EPS without NRI: $2.36 Revenue Growth (%) 11.10 5.70 16.70
Growth Rate in the next 10 EBITDA Growth (%) 15.40 19.70 6.30
years: 10.40%
Free Cash Flow Growth (%) 0.00 39.30 -2.90
Terminal Growth Rate for 10
years: 4% Book Value Growth (%) 29.90 74.60 453.60
Fair Value: $35.73 EPS Growth (%) 10.40 7.70 -23.90
Reverse DCF
Expected eps Growth Rate:
36.05%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPN 1/7
Per Share Data
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 Dec17 Dec18 Dec19 TTM Fiscal Period
4.03 4.95 5.53 6.50 7.87 9.02 10.00 11.56 13.87 15.19 17.57 20.56 21.76 25.56 21.14 24.67 24.38 Revenue per Share
1.01 1.32 1.48 1.60 1.94 2.26 2.42 2.64 2.62 3.06 3.72 4.44 4.64 6.55 8.04 8.54 8.70 EBITDA per Share
0.79 1.03 1.24 1.35 1.66 1.85 2.00 2.13 2.00 2.35 2.88 3.42 3.23 3.65 4.76 4.13 4.46 EBIT per Share
0.40 0.29 0.77 0.88 1.01 0.23 1.24 1.30 1.19 1.38 1.69 2.06 2.04 3.01 2.84 2.16 2.36 Earnings per Share (diluted)
0.40 0.29 0.77 0.88 1.01 1.05 1.26 1.31 1.19 1.38 1.69 2.06 2.04 3.01 2.84 2.16 2.36 eps without NRI
-- 1.11 1.06 0.74 1.22 0.76 2.11 3.78 -1.89 0.72 0.24 2.03 2.95 1.34 5.10 2.97 2.97 Owner Earnings per Share (TTM)
0.43 1.23 1.28 0.95 1.40 2.11 2.50 3.80 -1.78 0.91 0.78 2.50 3.76 2.13 5.61 5.44 6.33 Free Cashflow per Share
0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.23 0.23 Dividends per Share
2.95 3.70 4.83 5.92 7.07 4.15 5.41 7.37 7.46 7.60 7.24 5.81 17.79 23.84 25.27 140 92.78 Book Value per Share
-0.49 0.20 1.35 2.04 2.85 -1.34 1.83 0.40 1.00 -1.98 -6.36 -9.91 -28.15 -25.70 -30.63 -45.49 -30.17 Tangible Book per Share
1.46 0.44 0.01 -- 0.01 1.29 3.14 3.89 3.36 7.63 13.32 17.87 31.69 33.26 36.91 48.60 32.23 Total Debt per Share
11.67 17.33 23.29 20.02 23.61 17.98 21.10 25.98 21.24 23.98 34.28 52.19 77.69 100 103 183 192 Month End Stock Price
Ratios
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 Dec17 Dec18 Dec19 TTM Fiscal Period
15.31 18.08 18.62 16.55 15.61 4.15 26.60 20.46 15.97 18.65 22.89 31.68 15.50 14.32 11.61 2.70 3.19 Return on Equity %
9.04 10.83 13.41 12.89 12.30 2.38 10.94 7.76 6.23 7.44 6.87 5.68 3.34 3.99 3.45 1.49 1.63 Return on Assets %
102 103 171 195 207 189 182 156 113 99.01 75.30 69.47 75.10 105 122 80.81 84.89 Return on Capital %
15.22 16.79 22.89 24.31 24.72 36.65 39.94 32.40 23.01 17.30 14.01 13.73 7.37 9.60 7.60 3.10 3.55 Return on Invested Capital %
10.36 9.20 6.43 5.30 11.70 7.90 7.86 7.14 7.72 8.06 7.70 5.99 7.91 7.66 8.03 6.88 6.00 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 1,070 6.98 4.95 3.23 2.92 3.96 2.80 2.13 1.92 3.43 3.52 3.93 4.13 Effective Interest Rate on Debt %
54.02 57.00 60.57 60.92 62.67 65.48 64.41 64.24 64.39 63.72 62.72 63.15 60.40 51.50 67.47 57.78 57.78 Gross Margin %
19.47 20.89 22.35 20.84 19.83 20.01 19.68 17.83 13.95 15.03 15.88 16.46 14.66 14.06 21.89 16.11 16.11 Operating Margin %
9.92 11.84 13.82 13.47 12.77 2.55 12.38 11.25 8.54 9.10 9.60 10.02 9.37 11.78 13.43 8.77 8.77 Net Margin %
10.74 24.89 23.10 14.67 17.85 23.39 24.94 32.87 -12.86 5.97 4.41 12.16 17.30 8.31 26.52 22.06 22.06 FCF Margin %
0.50 0.12 0.00 -- 0.00 0.31 0.58 0.53 0.45 1.00 1.84 3.08 1.78 1.40 1.46 0.35 0.35 Debt to Equity
0.52 0.68 0.76 0.80 0.78 0.40 0.42 0.35 0.44 0.37 0.25 0.13 0.26 0.29 0.30 0.63 0.63 Total Equity to Total Asset
0.26 0.08 0.00 -- 0.00 0.12 0.25 0.19 0.20 0.37 0.46 0.40 0.47 0.41 0.44 0.22 0.22 Total Debt to Total Asset
49.24 52.10 58.76 58.28 60.35 61.32 56.93 44.33 47.00 52.08 44.85 35.75 21.49 17.42 17.32 9.84 10.73 Gross Profit to Total Asset %
0.91 0.91 0.97 0.96 0.96 0.94 0.88 0.69 0.73 0.82 0.72 0.57 0.36 0.34 0.26 0.17 0.19 Asset Turnover
0.10 0.14 0.05 0.05 0.04 0.04 0.03 0.03 0.03 0.03 0.02 0.02 0.02 0.01 0.01 0.10 0.10 Dividend Payout Ratio
27.50 25.56 27.12 26.19 28.84 30.80 29.29 32.68 30.30 29.10 30.66 26.63 35.47 27.72 37.78 66.52 66.52 Days Sales Outstanding
102 94.73 108 102 113 130 9.63 11.01 5.50 7.83 5.01 8.15 8.01 8.97 25.41 26.06 26.06 Days Accounts Payable
2.77 3.07 3.02 2.96 2.78 3.52 4.89 4.77 4.07 4.43 3.39 1.18 -- -- -- -- -- Days Inventory
-71.89 -66.10 -77.67 -72.62 -81.59 -95.85 24.55 26.44 28.87 25.70 29.04 19.66 27.46 18.75 12.37 40.46 40.46 Cash Conversion Cycle
132 119 121 123 131 104 74.69 76.53 89.67 82.41 108 308 -- -- -- -- -- Inventory Turnover
0.46 0.43 0.39 0.39 0.37 0.35 0.36 0.36 0.36 0.36 0.37 0.37 0.40 0.49 0.33 0.42 0.42 COGS to Revenue
0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.00 0.00 0.00 0.00 -- -- -- -- -- Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPN 2/7
Income Statement
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 Dec17 Dec18 Dec19 TTM Fiscal Period
629 784 908 1,062 1,274 1,462 1,642 1,860 2,204 2,376 2,554 2,774 2,898 3,975 3,366 4,912 4,912 Revenue
289 337 358 415 476 505 585 665 785 862 952 1,022 1,148 1,928 1,095 2,074 2,074 Cost of Goods Sold
340 447 550 647 799 957 1,058 1,195 1,419 1,514 1,602 1,752 1,751 2,047 2,271 2,838 2,838 Gross Profit
54.02 57.00 60.57 60.92 62.67 65.48 64.41 64.24 64.39 63.72 62.72 63.15 60.40 51.50 67.47 57.78 57.78 Gross Margin %
217 283 347 426 546 665 735 863 1,027 1,120 1,197 1,295 1,326 1,488 1,534 2,047 2,047 Selling, General, & Admin. Expense
-0.00 -- -0.00 0.00 -0.00 0.00 -0.00 0.00 84.44 36.78 -- 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 Other Operating Expense
123 164 203 221 253 293 323 332 307 357 405 457 425 559 737 791 791 Operating Income
19.47 20.89 22.35 20.84 19.83 20.01 19.68 17.83 13.95 15.03 15.88 16.46 14.66 14.06 21.89 16.11 16.11 Operating Margin %
-- -- -- -- 18.21 7.01 4.63 10.77 9.95 10.35 13.66 4.95 5.28 8.66 20.72 31.41 31.41 Interest Income
-- -- -- -- -8.17 -7.28 -17.52 -18.16 -16.85 -33.28 -41.81 -44.44 -69.32 -175 -196 -305 -305 Interest Expense
-- -- -- -- 10.04 -0.28 -12.89 -7.39 -6.90 -22.93 -28.15 -39.49 -64.03 -166 -175 -273 -273 Net Interest Income
-13.82 -9.91 -1.45 5.15 -1.32 -- -- -- -- -0.00 -- 0.00 -0.00 -0.00 -- -0.00 -- Other Income (Expense)
-8.53 -7.67 -8.47 -9.91 -8.06 -36.96 -15.79 -18.92 -29.41 -22.59 -24.67 -31.08 -18.55 -25.65 -32.61 -38.66 -38.66 Other Income (Minority Interest)
109 154 202 226 261 292 310 324 300 334 377 417 361 393 562 518 518 Pre-Tax Income
-37.77 -53.35 -67.52 -73.44 -90.59 -85.25 -87.38 -95.08 -82.88 -95.57 -107 -108 -70.70 101 -77.49 -62.19 -62.19 Tax Provision
34.73 34.66 33.51 32.45 34.65 29.17 28.15 29.33 27.59 28.59 28.46 25.89 19.59 -25.82 13.78 12.01 12.01 Tax Rate %
62.44 92.90 126 143 171 207 223 229 218 239 270 309 290 494 485 469 469 Net Income (Continuing Operations)
-- -- -- -- -- -133 -3.90 -0.98 -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
62.44 92.90 126 143 163 37.22 203 209 188 216 245 278 272 468 452 431 431 Net Income
9.92 11.84 13.82 13.47 12.77 2.55 12.38 11.25 8.54 9.10 9.60 10.02 9.37 11.78 13.43 8.77 8.77 Net Margin %
0.42 0.30 0.80 0.89 1.03 0.23 1.26 1.31 1.20 1.39 1.70 2.07 2.05 3.03 2.85 2.17 2.36 EPS (Basic)
0.40 0.29 0.77 0.88 1.01 0.23 1.24 1.30 1.19 1.38 1.69 2.06 2.04 3.01 2.84 2.16 2.36 EPS (Diluted)
156 159 164 163 162 162 164 161 159 156 145 135 133 156 159 199 300 Shares Outstanding (Diluted
Average)
35.54 45.31 40.49 40.37 44.03 66.29 68.67 82.24 99.10 112 122 138 188 451 523 878 878 Depreciation, Depletion and
Amortization
158 209 243 262 314 366 397 425 416 479 541 599 618 1,019 1,281 1,701 1,701 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPN 3/7
Balance Sheet
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 Dec17 Dec18 Dec19 TTM Fiscal Period
34.47 48.98 218 309 456 427 770 1,354 781 680 582 651 1,045 1,336 1,211 1,678 1,678 Cash And Cash Equivalents
34.47 48.98 218 309 456 427 770 1,354 781 680 582 651 1,045 1,336 1,211 1,678 1,678 Cash, Cash Equivalents, Marketable
Securities
47.41 54.93 67.48 76.17 101 123 132 167 183 189 215 202 282 302 348 895 895 Accounts Receivable
-- -- -0.53 -0.64 -1.03 -0.65 -- -- -- -- -- -- -- -- -- -- -- Inventories, Inventories
Adjustments
3.05 2.63 3.83 4.07 4.85 6.57 9.74 7.64 9.86 11.06 6.64 -- -- -- -- -- -- Inventories, Other
3.05 2.63 3.30 3.44 3.82 5.91 9.74 7.64 9.86 11.06 6.64 -- -- -- -- -- -- Total Inventories
147 82.52 58.25 52.31 56.00 38.90 56.10 319 274 332 840 2,436 1,518 2,666 1,817 1,793 1,793 Other Current Assets
233 190 348 444 617 595 968 1,848 1,249 1,214 1,643 3,290 2,851 4,304 3,376 4,366 4,366 Total Current Assets
-- -- 2.06 2.14 2.73 2.29 1.89 2.30 1.89 1.98 1.94 1.57 6.22 2.74 3.52 14.04 14.04 Land And Improvements
3.24 44.59 35.22 38.13 37.02 38.36 34.34 40.43 33.75 35.22 34.00 26.24 62.90 29.31 27.18 196 196 Buildings And Improvements
108 81.80 112 141 191 184 234 306 353 354 433 449 518 717 923 1,434 1,434 Machinery, Furniture, Equipment
12.74 23.02 30.37 43.12 45.92 58.84 24.09 43.69 67.04 101 53.70 56.78 67.09 90.68 131 236 236 Construction In Progress
186 218 253 285 287 297 303 404 468 505 542 554 694 903 1,157 1,998 1,998 Gross Property, Plant and Equipment
-88.65 -114 -145 -166 -146 -121 -119 -148 -162 -157 -172 -180 -201 -314 -504 -615 -615 Accumulated Depreciation
97.48 104 108 118 141 176 184 256 306 348 370 374 494 588 654 1,383 1,383 Property, Plant and Equipment
525 548 554 627 673 883 569 1,121 1,015 1,445 1,872 2,052 7,094 7,886 8,830 36,914 36,914 Intangible Assets
-- -- 387 451 497 625 569 780 725 1,044 1,337 1,492 4,829 5,704 6,341 23,760 23,760 Goodwill
7.54 11.59 7.83 10.84 14.31 22.19 318 125 119 117 133 63.27 70.85 220 371 1,817 1,817 Other Long Term Assets
863 854 1,019 1,201 1,446 1,677 2,039 3,351 2,688 3,125 4,019 5,779 10,510 12,998 13,231 44,480 44,480 Total Assets
80.98 87.54 106 116 148 180 15.43 20.05 11.82 18.50 13.08 22.84 25.20 47.39 76.23 148 148 Accounts Payable
-- -- -- -- 11.98 9.63 6.43 7.67 12.28 18.87 12.39 -- -- 35.41 51.11 56.43 56.43 Total Tax Payable
80.98 87.54 106 116 159 190 152 212 292 242 241 219 332 439 457 881 881 Accounts Payable & Accrued
Expense
213 67.34 0.75 -- 1.53 39.57 227 357 292 260 458 654 514 735 816 587 587 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- 50.57 274 498 602 586 586 Current Deferred Revenue
-- -- -- -- -- -- -- -- -- -- -- 50.57 274 498 602 586 586 DeferredTaxAndRevenue
24.96 27.92 43.17 27.21 56.73 107 293 876 253 202 513 2,091 1,311 2,143 1,394 1,526 1,526 Other Current Liabilities
319 183 150 143 218 336 672 1,444 837 704 1,212 3,015 2,431 3,816 3,269 3,579 3,579 Total Current Liabilities
7.48 -- -- -- -- 168 273 268 237 891 1,376 1,678 4,380 4,559 5,015 9,090 9,090 Long-Term Debt
2.06 0.75 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Capital Lease Obligation
9.54 0.75 -- -- -- 168 273 268 237 891 1,376 1,678 4,380 4,559 5,015 9,090 9,090 Long-Term Debt & Capital Lease
Obligation
0.50 0.12 0.00 -- 0.00 0.31 0.58 0.53 0.45 1.00 1.84 3.08 1.78 1.40 1.46 0.35 0.35 Debt to Equity
46.80 58.87 68.79 70.77 75.00 76.41 88.27 116 107 171 209 203 745 437 585 3,146 3,146 NonCurrent Deferred Liabilities
23.13 16.34 13.00 14.93 -- 10.81 113 287 273 141 136 106 131 171 195 199 199 Minority Interest
14.52 16.40 17.01 14.28 26.34 418 31.44 49.84 62.31 72.48 89.13 19.42 77.24 221 176 610 610 Other Long-Term Liabilities
390 259 235 228 319 999 1,065 1,879 1,243 1,838 2,886 4,916 7,633 9,033 9,044 16,425 16,425 Total Liabilities
124 211 330 466 622 273 545 686 843 959 816 795 1,016 1,598 2,066 2,333 2,333 Retained Earnings
11.07 20.23 50.98 61.19 124 -10.90 -44.26 79.32 -30.00 -15.06 -1.78 -186 -246 -183 -310 -311 -311 Accumulated other comprehensive
income (loss)
314 347 389 430 381 405 461 420 359 202 183 149 1,977 2,380 2,235 25,833 25,833 Additional Paid-In Capital
-- -- -- -- -- -- -100.00 -- -- -- -- -- -- -- -- -- -- Treasury Stock
449 578 770 958 1,127 667 861 1,185 1,172 1,146 997 758 2,746 3,795 3,991 27,856 27,856 Total Equity
0.52 0.68 0.76 0.80 0.78 0.40 0.42 0.35 0.44 0.37 0.25 0.13 0.26 0.29 0.30 0.63 0.63 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPN 4/7
Cashflow Statement
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 Dec17 Dec18 Dec19 TTM Fiscal Period
62.44 92.90 126 143 163 74.18 219 229 218 239 270 309 290 494 485 469 469 Net Income
62.44 92.90 126 143 163 74.18 219 229 218 239 270 309 290 494 485 469 469 Net Income From Continuing
Operations
35.54 45.31 40.49 40.37 44.03 66.29 68.67 82.24 99.10 112 122 138 188 451 523 878 878 Depreciation, Depletion and
Amortization
3.56 -20.70 -30.68 -28.02 -47.03 -42.28 -26.63 -49.15 -29.94 -17.32 -30.11 1.25 -14.54 -14.10 -33.39 -116 -116 Change In Receivables
-0.09 0.21 -0.52 -0.17 -0.62 -1.65 -4.73 1.98 -2.39 -1.19 4.79 0.13 -- -- -- -- -- Change In Inventory
-6.26 -4.16 -0.42 -2.43 -3.78 4.44 -13.71 3.54 3.51 -22.98 23.79 5.43 -52.25 -129 -161 -159 -159 Change In Prepaid Assets
16.33 3.24 11.04 11.51 31.42 20.91 15.62 90.47 90.48 -32.79 2.74 -69.51 -81.51 146 66.18 -95.09 -95.09 Change In Payables And Accrued
Expense
-27.28 47.29 30.86 -38.80 18.31 45.18 105 347 -507 -178 -245 -142 57.80 -359 -44.53 -156 -156 Change In Working Capital
-1.74 9.00 0.78 -2.21 -1.15 5.46 2.72 19.15 -19.50 33.11 -1.80 81.08 -18.16 -251 -1.45 -108 -108 Change In DeferredTax
-- -- -- -- 13.83 14.57 18.07 15.89 16.39 18.43 29.79 21.06 30.81 39.10 57.83 89.63 89.64 Stock Based Compensation
23.20 35.07 37.12 48.80 34.64 29.63 51.78 17.00 19.64 16.78 19.09 22.75 44.35 138 86.75 218 218 Cash Flow from Others
92.17 230 235 191 272 383 466 710 -173 241 194 430 593 512 1,106 1,391 1,391 Cash Flow from Operations
-24.56 -34.31 -25.04 -35.37 -44.97 -40.94 -56.05 -98.54 -110 -98.59 -81.41 -92.55 -91.59 -182 -213 -308 -308 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -- -- -- -- -- -- 10.60 -- 37.57 -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -18.25 -525 -29.51 -171 -44.27 -434 -427 -356 -2,034 -563 -1,260 -645 -645 Purchase Of Business
-- -- -- -- -- -- 60.23 -- -- -- -- -- -- -- -- -- -- Sale Of Business
-- -- -- -- -- 6.89 0.31 -- 1.15 1.23 -- -- -- -- -- -- -- Sale Of Investment
-122 -30.77 -4.92 -81.26 -- 0.00 -0.18 2.06 2.57 2.81 6.26 -3.00 -1.25 -29.00 -3.31 35.40 35.40 Cash From Other Investing Activities
-147 -65.08 -29.96 -117 -63.22 -559 -25.20 -267 -150 -529 -502 -441 -2,127 -736 -1,476 -917 -917 Cash Flow from Investing
11.46 21.23 23.92 19.33 17.39 9.05 30.25 -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -- -87.02 -- -98.08 -14.90 -99.60 -175 -447 -372 -136 -34.81 -208 -311 -311 Repurchase of Stock
54.13 -158 -61.65 -0.75 1.53 192 300 117 -93.22 625 682 547 2,181 434 541 483 483 Net Issuance of Debt
-6.03 -6.21 -6.34 -6.44 -6.38 -6.42 -6.50 -6.39 -6.31 -6.20 -5.76 -5.34 -5.44 -6.73 -6.33 -86.74 -86.74 Cash Flow for Dividends
-9.45 -9.66 -10.21 -1.26 -1.89 -33.06 -291 18.75 -19.06 -260 -10.11 -32.89 -81.62 -40.47 -39.22 -113 -113 Other Financing
50.11 -152 -54.27 10.89 -76.37 161 -95.75 114 -218 184 219 136 1,958 352 287 -28.67 -28.67 Cash Flow from Financing
-3.54 14.51 169 90.40 147 -29.12 343 584 -573 -101 -98.60 68.87 394 173 -125 467 467 Net Change in Cash
-24.56 -34.31 -25.04 -35.37 -44.97 -40.94 -56.05 -98.54 -110 -98.59 -81.41 -92.55 -91.59 -182 -213 -308 -308 Capital Expenditure
67.61 195 210 156 227 342 410 611 -283 142 113 337 501 330 893 1,083 1,083 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPN 5/7
Valuation Ratios
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 Dec17 Dec18 Dec19 TTM Fiscal Period
29.36 46.84 35.02 22.75 23.49 81.73 17.02 19.98 12.99 17.38 20.34 25.40 37.90 33.64 36.44 77.36 81.52 PE Ratio(TTM)
-- 15.67 21.93 27.16 19.42 23.53 9.99 6.87 -- 33.12 144 25.71 26.36 74.86 20.24 61.57 64.89 Price to Owner Earnings
(TTM)
3.95 4.69 4.83 3.38 3.34 4.33 3.90 3.52 2.85 3.16 4.73 8.99 4.37 4.21 4.08 1.31 2.07 Price to Book
-- 88.42 17.23 9.79 8.28 -- 11.50 65.77 21.22 -- -- -- -- -- -- -- -- Price to Tangible Book
26.95 14.02 18.21 20.85 16.78 8.52 8.26 6.87 -- 26.53 36.39 20.79 19.37 47.19 18.39 28.84 30.39 Price-to-Free-Cash-Flow
Ratio
19.81 11.93 16.28 17.02 14.02 7.61 7.28 5.91 -- 15.64 23.24 16.31 16.55 30.44 14.85 23.07 24.31 Price-to-Operating-Cash-
Flow Ratio
2.92 3.49 4.20 3.06 3.00 1.95 2.11 2.25 1.53 1.58 2.05 2.54 3.57 3.92 4.88 7.49 7.89 PS Ratio
-- -- 1.57 1.16 1.27 1.07 1.20 1.58 1.08 2.56 2.30 2.10 2.65 1.83 1.96 4.09 4.14 PEG Ratio
3.16 3.50 3.87 2.78 2.60 1.79 1.95 2.01 1.52 1.78 2.39 3.10 5.51 5.05 6.27 12.83 13.40 EV-to-Revenue
12.58 13.13 14.43 11.27 10.84 7.25 8.08 8.79 8.06 8.82 11.28 14.36 25.85 19.72 16.48 37.04 38.71 EV-to-EBITDA
16.23 16.76 17.31 13.32 12.67 8.83 9.77 10.90 10.58 11.50 14.57 18.64 37.14 35.39 27.85 76.57 80.02 EV-to-EBIT
6.16 5.97 5.78 7.51 7.89 11.33 10.24 9.17 9.45 8.70 6.86 5.36 2.69 2.83 3.59 1.31 1.25 Return on Capital %
-- -- 23.23 23.43 22.66 23.16 21.55 20.61 19.42 13.24 12.78 14.70 15.87 20.49 21.62 21.20 21.09 Forward Rate of Return
-- -- -- -- -- -- -- 37.57 25.02 24.29 30.46 40.57 54.53 59.39 55.17 86.57 91.23 Shiller PE Ratio
0.34 0.23 0.17 0.20 0.17 0.22 0.19 0.15 0.19 0.17 0.12 0.08 0.05 0.04 0.04 0.12 0.12 Dividend Yield %
Valuation and Quality
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,777 2,710 3,718 3,241 3,761 2,893 3,361 4,174 3,337 3,617 4,720 6,814 11,997 15,956 16,291 36,354 57,645 Market Cap
1,989 2,746 3,513 2,947 3,307 2,684 3,204 3,732 3,357 4,228 6,108 8,601 15,977 20,086 21,105 44,552 65,844 Enterprise Value
11.67 17.33 23.29 20.02 23.61 17.98 21.10 25.98 21.24 23.98 34.28 52.19 77.69 100 103 183 192 Month End Stock Price
-2.49 -1.45 -0.19 0.41 0.86 -3.62 -2.56 -5.05 -4.68 -8.61 -17.72 -33.48 -43.51 -49.43 -50.83 -75.06 -49.78 Net Cash (per share)
-1.18 -0.54 0.63 1.25 1.87 -2.57 -1.32 -1.98 -1.70 -5.07 -10.01 -13.26 -31.81 -30.78 -37.12 -61.56 -40.83 Net Current Asset Value
(per share)
-2.24 -1.17 0.14 0.77 1.35 -3.03 -1.91 -4.25 -3.77 -7.63 -16.52 -32.31 -42.14 -48.00 -49.17 -71.68 -47.55 Net-Net Working Capital (per
share)
-- -- 9.97 16.62 18.86 21.62 27.48 35.90 28.80 28.91 22.81 29.47 40.55 43.78 55.66 95.94 95.94 Projected FCF (per share)
-- -- -- -- -- -- -- 33.99 39.25 42.58 39.53 47.08 49.86 58.50 49.50 59.92 59.92 Median PS (per share)
-- -- 14.82 17.21 18.62 16.76 17.52 16.48 19.67 9.37 14.90 24.80 29.32 54.86 52.72 44.65 44.65 Peter Lynch Fair Value (per
share)
-- 1.13 4.82 6.34 8.03 -- 7.21 3.41 5.17 -- -- -- -- -- -- -- -- Graham Number (per share)
-- 5.21 8.56 11.19 14.28 15.60 18.37 23.36 23.83 22.35 17.17 22.14 10.24 17.12 18.38 2.65 2.65 Earnings Power Value
(EPV)
3.96 8.15 11.71 10.88 9.50 3.64 3.78 2.66 3.44 2.95 2.37 1.82 1.54 1.73 1.75 2.27 2.37 Altman Z-Score
5.00 6.00 8.00 7.00 7.00 4.00 4.00 4.00 5.00 7.00 2.00 6.00 4.00 5.00 6.00 6.00 6.00 Piotroski F-Score
-2.83 -2.96 -2.76 -2.50 -2.71 -3.56 -3.27 -3.04 -1.63 -2.49 -2.38 -2.85 -1.84 -2.38 -2.62 -1.07 -1.07 Beneish M-Score
1.28 0.71 0.66 0.65 0.56 0.32 0.42 0.36 0.36 0.65 0.76 0.63 1.16 0.75 0.68 2.73 0.80 Scaled Net Operating
Assets
13.57 -8.39 -7.78 5.70 -3.21 12.73 -11.63 -6.97 19.05 16.13 13.76 5.00 17.18 5.32 6.21 -0.10 -0.10 Sloan Ratio (%)
0.73 1.04 2.33 3.11 2.84 1.77 1.44 1.28 1.49 1.72 1.36 1.09 1.17 1.13 1.03 1.22 1.22 Current Ratio
0.72 1.02 2.31 3.09 2.82 1.75 1.43 1.27 1.48 1.71 1.35 1.09 1.17 1.13 1.03 1.22 1.22 Quick Ratio
12.78 17.33 27.09 24.74 23.78 24.89 27.08 26.70 26.74 25.50 36.50 52.70 77.69 104 129 183 210 Highest Stock Price
7.99 10.46 15.93 17.03 17.88 13.80 17.97 18.05 19.67 19.94 22.91 33.99 51.09 69.41 95.37 98.72 128 Lowest Stock Price
-2.52 -2.70 -2.07 -1.41 1.59 -0.99 0.99 -0.87 2.22 3.98 8.72 5.18 -18.28 -3.08 0.77 -26.06 -90.06 Shares Buyback Ratio (%)
17.66 22.67 11.91 17.38 21.12 14.65 10.85 15.55 20.06 9.46 15.70 17.01 5.86 17.44 -17.31 16.70 15.36 YoY Rev. per Sh. Growth
(%)
129 -27.50 164 14.38 14.86 -77.11 439 4.84 -8.85 16.46 22.46 21.89 -0.97 47.55 -5.65 -23.94 -16.61 YoY EPS Growth (%)
20.60 30.11 12.59 7.88 20.92 16.58 7.00 9.23 -0.64 16.90 21.51 19.26 4.55 41.10 22.75 6.26 8.14 YoY EBITDA Growth (%)
-- -- 22.28 19.56 18.53 15.66 13.85 12.68 12.03 6.79 8.84 12.07 14.30 18.41 18.63 18.92 19.70 EBITDA 5-Y Growth (%)
150 153 158 161 159 160 162 160 158 156 144 134 132 155 159 198 300 Shares Outstanding (Basic
Average)
152 156 160 162 159 161 159 161 157 151 138 131 154 159 158 199 301 Shares Outstanding (EOP)
1.03 0.95 0.24 0.07 1.26 0.76 0.83 0.76 1.14 1.15 1.11 0.84 1.21 1.04 1.10 0.88 0.87 Beta
08/10/04 08/15/05 08/04/06 07/30/07 07/30/08 07/28/09 07/28/10 07/25/11 07/27/12 07/25/13 07/29/14 07/30/15 07/28/16 02/23/18 02/21/19 02/21/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPN 6/7
08/15/05 08/04/06 07/30/07 07/30/08 07/28/09 07/25/11 07/25/11 07/25/13 07/29/14 07/30/15 02/28/17 02/23/18 02/23/18 02/21/20 02/21/20 02/21/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GPN 7/7
Mondelez International Inc (NAS:MDLZ) 03/02/2020 4:00PM EST GuruFocus
Price: $ 55.60 +2.80(+5.30%) Market Cap: $ 79.67 B Enterprise Value: $97.29 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 20.90
Cash to Debt 0.07 Operating margin (%) 15.57
Forward P/E N/A
Equity to Asset 0.42 Net-margin (%) 14.96
PE(NRI) 20.90
Interest Coverage 8.32 ROE (%) 14.70
F-Score:
P/B 2.94
ROA (%) 6.07
8 P/S 3.13
Z-Score: ROC (Joel Greenblatt) (%) 43.64
2.32 PFCF 26.64
Revenue Growth (3Y)(%) 2.50
M-Score: POCF 20.43
-2.51 EBITDA Growth (3Y)(%) 24.40
EV-to-EBIT 24.75
WACC vs 5.43% EPS Growth (3Y)(%) 36.60
ROIC 9.06% Shiller P/E 23.39
WACC
ROIC Current Ratio 0.50
Quick Ratio 0.33
Days Inventory 62.19
Days Sales Outstanding 31.21
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDLZ 1/8
Warning Signs Quarterly Revenues Company Description
Dividend Yield %: Close to 2- Mar Jun Sep Dec Full Year Mondelez has operated as an independent organization since October 2012, following the split from the former Kraft
Foods North American grocery business. The firm is a leading player in the global snack arena with a presence in the
year low 2016 6,455 6,302 6,396 6,770 25,923 biscuit (43% of sales), chocolate (31.5%), gum/candy (13.5%), beverage (5%), and cheese and grocery (7%) aisles.
2017 6,414 5,986 6,530 6,966 25,896 Mondelez's portfolio includes well-known brands like Oreo, Chips Ahoy, Halls, Trident, and Cadbury, among others.
Price: Close to 10-year high The firm derives almost 40% of revenue from developing markets, a similar level from Europe, and the remainder from
2018 6,765 6,112 6,288 6,773 25,938 North America.... (Read More)
PB Ratio: Close to 10-year 2019 6,538 6,062 6,355 6,913 25,868 Competitors: NYSE:HSY, XSWX:LISN, XSWX:BARN, XTER:SZU, XKRX:271560 , ISX:MYOR, TSE:2206 ,
high 2020 BSP:SMTO3, NYSE:TR, CAS:CSR, TSE:2201, XKRX:004990, TSE:2222, IST:ULKER, BSP:BSEV3, OSTO:CLA B,
TSE:2220, ISX:STTP, XKRX:001800, XKRX:280360
PS Ratio: Close to 10-year Quarterly Earnings per Share
high Insider Trades
Mar Jun Sep Dec Full Year
Long-Term Debt: Issuing new 2016 0.35 0.29 0.35 0.06 1.05
debt 2017 0.41 0.32 0.64 0.53 1.90
2018 0.70 0.21 0.81 0.56 2.28
Tax Rate: Tax Rate is too low
2019 0.63 0.55 0.98 0.50 2.66
Insider Sell: Insider Selling 2020
Quarterly Dividends Per Share
Good Signs Mar Jun Sep Dec Full Year
Piotroski F-Score: High 2016 0.17 0.17 0.19 0.19 0.72
2017 0.19 0.19 0.22 0.22 0.82
Operating Margin %: 2018 0.22 0.22 0.26 0.26 0.96
Expansion 2019 0.26 0.26 0.29 0.29 1.09
PE Ratio: Close to 1-year low 2020
Growth Rate
DCF Annual Rates(per share) 10-Y 5-Y 12-M
GuruFocus does not Revenue Growth (%) -2.80 -2.00 1.60
calculate intrinsic value: DCF
EBITDA Growth (%) 0.40 -0.80 23.30
(Earnings Based) for
companies with one star Free Cash Flow Growth (%) -1.40 12.60 8.60
predictability or not rated. But Book Value Growth (%) -0.10 2.00 7.20
you can go to each stock's EPS Growth (%) 11.80 6.50 16.20
DCF page to calculate
yourself.
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDLZ 2/8
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
18.71 20.09 20.11 22.67 26.73 26.08 18.31 20.21 19.57 19.73 20.04 18.10 16.48 16.91 17.46 17.74 17.74 Revenue per Share
3.19 3.31 3.05 3.04 3.03 4.13 2.16 2.68 2.40 2.51 2.57 5.73 1.78 2.83 2.77 3.41 3.41 EBITDA per Share
2.68 2.80 2.51 2.49 2.38 3.50 1.32 1.84 1.65 1.91 1.95 5.19 1.25 2.30 2.22 2.70 2.70 EBIT per Share
1.55 1.55 1.85 1.62 1.90 2.03 2.39 2.01 1.73 2.19 1.28 4.44 1.04 1.85 2.28 2.65 2.66 Earnings per Share (diluted)
1.55 1.72 1.85 1.48 1.10 1.89 0.38 0.99 0.88 1.29 1.28 4.44 1.04 1.85 2.28 2.65 2.66 eps without NRI
-- 1.26 1.36 1.25 2.04 2.43 2.10 1.70 1.33 2.66 1.20 4.54 0.51 0.96 2.17 2.00 2.00 Owner Earnings per Share (TTM)
1.75 1.35 1.54 1.46 1.83 2.53 1.21 1.55 1.29 2.68 1.12 1.35 1.03 1.03 1.92 2.09 2.09 Free Cashflow per Share
0.77 0.87 0.96 1.04 1.12 1.16 1.16 1.16 1.00 0.54 0.58 0.64 0.72 0.82 0.96 1.09 1.09 Dividends per Share
17.54 17.72 17.45 17.80 15.11 14.91 20.50 19.92 18.15 18.98 16.68 17.73 16.46 17.47 17.67 18.94 18.94 Book Value per Share
-3.46 -3.34 -4.39 -10.50 -12.46 -9.41 -16.01 -15.42 -9.01 -8.92 -9.60 -7.23 -8.65 -9.23 -9.02 -8.01 -8.01 Tangible Book per Share
7.34 6.32 6.61 13.70 13.78 10.95 16.43 15.23 10.93 10.02 10.01 9.75 11.25 11.86 12.66 13.08 13.08 Total Debt per Share
23.31 18.44 23.37 21.36 17.58 17.79 20.63 24.46 25.45 35.30 36.33 44.84 44.33 42.80 40.03 55.08 55.60 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9.12 8.85 10.52 9.27 11.65 12.57 13.33 10.00 9.09 12.11 7.27 26.06 6.15 11.06 13.10 14.63 14.70 Return on Equity %
4.47 4.48 5.41 4.19 4.40 4.66 5.08 3.76 3.62 5.29 3.14 11.21 2.63 4.54 5.38 6.08 6.07 Return on Assets %
37.02 39.34 37.80 34.57 31.89 48.77 18.51 23.64 24.59 33.36 33.20 93.39 23.74 41.64 38.51 44.21 43.64 Return on Capital %
7.47 8.18 8.17 6.41 7.58 8.68 4.44 5.35 6.19 8.71 7.55 8.22 7.57 7.37 6.27 9.16 9.06 Return on Invested Capital %
5.79 7.73 6.41 5.55 5.42 6.11 5.66 4.12 4.03 6.05 7.95 8.62 6.42 5.23 5.05 5.99 5.43 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 6.17 6.42 6.46 4.97 5.08 5.57 4.61 3.80 3.16 2.27 2.56 2.60 2.50 Effective Interest Rate on Debt %
36.95 35.96 35.82 33.42 32.92 35.96 37.70 36.58 37.34 37.14 36.79 38.84 38.98 38.75 39.91 39.96 39.96 Gross Margin %
14.34 13.92 12.49 10.98 11.59 13.22 8.01 9.75 10.52 11.94 11.49 12.67 13.05 15.13 14.27 15.57 15.57 Operating Margin %
8.28 7.72 9.20 7.17 7.12 7.80 13.06 9.92 8.76 11.09 6.38 24.52 6.31 10.92 13.03 14.96 14.96 Net Margin %
9.33 6.72 7.67 6.45 6.85 9.69 6.63 7.68 6.61 13.56 5.61 7.47 6.23 6.10 11.00 11.75 11.75 FCF Margin %
0.42 0.36 0.38 0.77 0.91 0.73 0.80 0.77 0.60 0.53 0.60 0.55 0.68 0.68 0.72 0.69 0.69 Debt to Equity
0.50 0.51 0.51 0.40 0.35 0.39 0.38 0.38 0.43 0.45 0.42 0.45 0.41 0.41 0.41 0.42 0.42 Total Equity to Total Asset
0.21 0.18 0.20 0.31 0.32 0.29 0.30 0.29 0.26 0.24 0.25 0.25 0.28 0.28 0.29 0.29 0.29 Total Debt to Total Asset
19.94 20.87 21.05 19.55 20.34 21.47 14.66 13.85 15.45 17.72 18.09 17.76 16.25 16.12 16.47 16.24 16.21 Gross Profit to Total Asset %
0.54 0.58 0.59 0.59 0.62 0.60 0.39 0.38 0.41 0.48 0.49 0.46 0.42 0.42 0.41 0.41 0.41 Asset Turnover
0.50 0.51 0.52 0.70 1.02 0.61 3.05 1.17 1.14 0.42 0.45 0.14 0.69 0.44 0.42 0.41 0.41 Dividend Payout Ratio
40.18 36.22 42.46 52.50 42.40 48.95 75.80 64.84 63.89 46.15 40.52 32.44 36.76 37.93 31.83 31.21 31.21 Days Sales Outstanding
39.72 37.93 44.50 61.68 45.32 55.38 101 88.80 77.23 87.92 89.35 98.48 123 131 136 138 138 Days Accounts Payable
61.10 56.73 58.56 57.67 52.57 55.18 84.52 88.53 78.59 61.55 60.90 61.31 58.58 57.83 60.29 60.38 62.19 Days Inventory
61.56 55.02 56.52 48.49 49.65 48.75 59.68 64.57 65.25 19.78 12.07 -4.73 -27.36 -35.52 -43.57 -45.96 -44.15 Cash Conversion Cycle
5.97 6.43 6.23 6.33 6.94 6.61 4.32 4.12 4.64 5.93 5.99 5.95 6.23 6.31 6.05 6.05 5.87 Inventory Turnover
0.63 0.64 0.64 0.67 0.67 0.64 0.62 0.63 0.63 0.63 0.63 0.61 0.61 0.61 0.60 0.60 0.60 COGS to Revenue
0.11 0.10 0.10 0.11 0.10 0.10 0.14 0.15 0.14 0.11 0.11 0.10 0.10 0.10 0.10 0.10 0.10 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDLZ 3/8
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
32,168 34,113 33,256 36,134 40,492 38,754 31,489 35,810 35,015 35,299 34,244 29,636 25,923 25,896 25,938 25,868 25,868 Revenue
20,281 21,845 21,344 24,057 27,164 24,819 19,617 22,710 21,939 22,189 21,647 18,124 15,819 15,862 15,586 15,531 15,531 Cost of Goods Sold
11,887 12,268 11,912 12,077 13,328 13,935 11,872 13,100 13,076 13,110 12,597 11,512 10,104 10,034 10,352 10,337 10,337 Gross Profit
36.95 35.96 35.82 33.42 32.92 35.96 37.70 36.58 37.34 37.14 36.79 38.84 38.98 38.75 39.91 39.96 39.96 Gross Margin %
6,658 7,138 7,120 7,673 8,613 8,784 9,140 9,382 9,176 8,679 8,457 7,577 6,546 5,938 6,475 6,136 6,136 Selling, General, & Admin. Expense
617 381 638 438 23.00 26.00 210 225 217 217 206 181 176 178 176 174 174 Other Operating Expense
4,612 4,749 4,154 3,966 4,692 5,125 2,522 3,493 3,683 4,214 3,934 3,754 3,382 3,918 3,701 4,027 4,027 Operating Income
14.34 13.92 12.49 10.98 11.59 13.22 8.01 9.75 10.52 11.94 11.49 12.67 13.05 15.13 14.27 15.57 15.57 Operating Margin %
-- -- -- -- -1,272 -1,260 -1,540 -1,383 -1,177 -1,017 -778 -609 -515 -396 -462 -484 -484 Interest Expense
-- -- -- -- -1,272 -1,260 -1,540 -1,383 -1,177 -1,017 -778 -609 -515 -396 -462 -484 -484 Net Interest Income
-666 -636 -510 -604 -1,084 81.00 -256 -230 -732 -805 -602 4,739 -1,413 -398 -397 -96.00 -96.00 Other Income (Expense)
-3.00 -3.00 -5.00 -- -9.00 -7.00 -25.00 -20.00 -27.00 -20.00 -17.00 -24.00 -10.00 -14.00 -14.00 -15.00 -15.00 Other Income (Minority Interest)
3,946 4,113 3,644 3,362 2,336 3,946 726 1,880 1,774 2,392 2,554 7,884 1,454 3,124 2,842 3,447 3,447 Pre-Tax Income
-1,274 -1,209 -816 -1,002 -658 -1,136 -54.00 -116 -168 -60.00 -353 -593 -114 -666 -773 -2.00 -2.00 Tax Provision
32.29 29.39 22.39 29.80 28.17 28.79 7.44 6.17 9.47 2.51 13.82 7.52 7.84 21.32 27.20 0.06 0.06 Tax Rate %
2,669 2,904 2,828 2,360 1,678 2,810 672 1,764 1,606 2,332 2,201 7,291 1,645 2,842 3,395 3,885 3,885 Net Income (Continuing Operations)
-4.00 -272 232 230 1,215 218 3,467 1,810 1,488 1,603 -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
2,665 2,632 3,060 2,590 2,884 3,021 4,114 3,554 3,067 3,915 2,184 7,267 1,635 2,828 3,381 3,870 3,870 Net Income
8.28 7.72 9.20 7.17 7.12 7.80 13.06 9.92 8.76 11.09 6.38 24.52 6.31 10.92 13.03 14.96 14.96 Net Margin %
1.56 1.56 1.86 1.64 1.92 2.04 2.40 2.01 1.73 2.21 1.29 4.49 1.05 1.87 2.30 2.68 2.67 EPS (Basic)
1.55 1.55 1.85 1.62 1.90 2.03 2.39 2.01 1.73 2.19 1.28 4.44 1.04 1.85 2.28 2.65 2.66 EPS (Diluted)
1,719 1,698 1,654 1,594 1,515 1,486 1,720 1,772 1,789 1,789 1,709 1,637 1,573 1,531 1,486 1,458 1,455 Shares Outstanding (Diluted
Average)
879 879 891 886 986 931 1,440 1,485 1,345 1,077 1,059 894 823 816 811 1,047 1,047 Depreciation, Depletion and
Amortization
5,491 5,628 5,045 4,852 4,594 6,137 3,706 4,748 4,296 4,486 4,391 9,387 2,792 4,336 4,115 4,978 4,978 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDLZ 4/8
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
282 316 239 567 1,244 2,101 2,481 1,974 4,475 2,622 1,631 1,870 1,741 761 1,100 1,291 1,291 Cash And Cash Equivalents
282 316 239 567 1,244 2,101 2,481 1,974 4,475 2,622 1,631 1,870 1,741 761 1,100 1,291 1,291 Cash, Cash Equivalents, Marketable
Securities
3,541 3,385 3,869 5,197 4,704 5,197 6,539 6,361 6,129 4,463 3,802 2,634 2,611 2,691 2,262 2,212 2,212 Accounts Receivable
1,367 1,363 1,389 1,697 1,568 1,410 1,743 1,800 1,213 1,165 1,215 782 722 711 726 707 707 Inventories, Raw Materials &
Components
-- -- -- -142 -152 -- -- -- -- -- -169 -103 -118 -129 -121 -114 -114 Inventories, Inventories
Adjustments
2,080 1,980 2,117 2,541 2,313 2,365 3,567 3,906 2,528 2,578 2,434 1,930 1,865 1,975 1,987 1,953 1,953 Inventories, Finished Goods
3,447 3,343 3,506 4,096 3,729 3,775 5,310 5,706 3,741 3,743 3,480 2,609 2,469 2,557 2,592 2,546 2,546 Total Inventories
2,452 1,109 640 877 1,689 1,381 1,891 2,161 1,328 1,406 1,888 633 800 676 906 866 866 Other Current Assets
9,722 8,153 8,254 10,737 11,366 12,454 16,221 16,202 15,673 13,174 11,750 8,958 8,480 7,520 7,604 7,630 7,630 Total Current Assets
-- -- -- -- -- -- -- -- -- -- 662 5,387 5,585 6,193 7,123 7,212 7,212 Investments And Advances
400 388 389 454 462 492 795 768 643 617 574 495 471 458 424 422 422 Land And Improvements
3,545 3,551 3,657 4,121 3,913 4,231 4,934 4,997 3,199 3,270 3,117 2,753 2,801 2,979 2,984 3,140 3,140 Buildings And Improvements
11,892 12,008 12,164 13,750 12,590 13,872 16,147 16,934 11,992 12,351 11,737 10,044 10,302 11,195 10,943 11,295 11,295 Machinery, Furniture, Equipment
646 651 840 879 850 828 1,154 1,233 1,022 1,376 1,484 1,262 1,113 1,048 894 680 680 Construction In Progress
16,483 16,598 17,050 19,204 17,815 19,423 23,030 23,932 16,856 17,614 16,912 14,554 14,687 15,680 15,245 16,105 16,105 Gross Property, Plant and Equipment
-6,498 -6,781 -7,357 -8,426 -7,898 -8,730 -9,238 -10,119 -6,846 -7,367 -7,085 -6,192 -6,458 -7,003 -6,763 -6,804 -6,804 Accumulated Depreciation
9,985 9,817 9,693 10,778 9,917 10,693 13,792 13,813 10,010 10,247 9,827 8,362 8,229 8,677 8,482 9,301 9,301 Property, Plant and Equipment
35,811 35,164 35,730 43,393 40,507 42,193 63,819 62,483 48,292 47,591 43,724 39,432 38,377 39,724 38,727 38,805 38,805 Intangible Assets
-- 24,648 25,553 31,193 27,581 28,764 37,856 37,297 25,740 25,597 23,389 20,664 20,276 21,085 20,725 20,848 20,848 Goodwill
4,410 4,494 1,897 3,085 1,288 1,374 1,457 1,339 1,502 1,503 808 704 867 843 793 1,601 1,601 Other Long Term Assets
59,928 57,628 55,574 67,993 63,078 66,714 95,289 93,837 75,477 72,515 66,771 62,843 61,538 62,957 62,729 64,549 64,549 Total Assets
2,207 2,270 2,602 4,065 3,373 3,766 5,409 5,525 4,642 5,345 5,299 4,890 5,318 5,705 5,794 5,853 5,853 Accounts Payable
6,113 5,762 6,582 8,879 6,127 7,122 9,216 8,388 7,126 7,663 7,346 6,524 7,063 7,433 7,550 7,689 7,689 Accounts Payable & Accrued
Expense
2,795 2,073 3,740 8,107 1,662 966 1,865 3,836 3,851 2,597 2,835 841 3,982 4,680 5,840 4,219 4,219 Current Portion of Long-Term Debt
170 237 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
170 237 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- DeferredTaxAndRevenue
-- 652 151 100.00 3,255 3,403 4,579 6,221 3,893 4,094 3,826 3,557 3,372 3,680 3,347 3,414 3,414 Other Current Liabilities
9,078 8,724 10,473 17,086 11,044 11,491 15,660 18,445 14,870 14,354 14,007 10,922 14,417 15,793 16,737 15,322 15,322 Total Current Liabilities
9,723 8,475 7,081 12,902 18,589 18,024 26,859 23,095 15,574 14,482 13,821 14,557 13,217 12,972 12,532 14,207 14,207 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 403 403 Capital Lease Obligation
9,723 8,475 7,081 12,902 18,589 18,024 26,859 23,095 15,574 14,482 13,821 14,557 13,217 12,972 12,532 14,610 14,610 Long-Term Debt & Capital Lease
Obligation
0.42 0.36 0.38 0.77 0.91 0.73 0.80 0.77 0.60 0.53 0.60 0.55 0.68 0.68 0.72 0.69 0.69 Debt to Equity
-- -- -- -- -- -- -- 6,835 3,336 2,374 3,438 2,682 2,396 2,088 1,572 1,577 1,577 PensionAndRetirementBenefit
5,850 6,067 3,930 4,876 4,064 4,508 7,984 6,738 6,235 6,282 5,512 4,750 4,721 3,341 3,552 3,338 3,338 NonCurrent Deferred Liabilities
-- -- -- -- -- 96.00 108 111 140 159 103 88.00 54.00 80.00 76.00 76.00 76.00 Minority Interest
5,366 4,769 5,535 5,834 7,181 6,719 8,844 3,396 3,046 2,491 2,140 1,832 1,572 2,689 2,623 2,351 2,351 Other Long-Term Liabilities
30,017 28,035 27,019 40,698 40,878 40,742 59,347 58,509 43,061 39,983 38,918 34,743 36,323 36,883 37,016 37,198 37,198 Total Liabilities
8,304 9,453 11,128 12,209 13,345 14,636 16,619 18,012 10,551 13,419 14,529 20,700 21,149 22,631 24,491 26,653 26,653 Retained Earnings
-1,205 -1,663 -3,069 -1,835 -5,994 -3,955 -3,890 -6,637 -2,666 -2,889 -7,318 -9,986 -11,122 -9,997 -10,630 -10,258 -10,258 Accumulated other comprehensive
income (loss)
23,762 23,835 23,626 23,445 23,563 23,611 31,231 31,318 31,548 31,396 31,651 31,760 31,847 31,915 31,961 32,019 32,019 Additional Paid-In Capital
-950 -2,032 -3,130 -6,524 -8,714 -8,416 -8,126 -7,476 -7,157 -9,553 -11,112 -14,462 -16,713 -18,555 -20,185 -21,139 -21,139 Treasury Stock
29,911 29,593 28,555 27,295 22,200 25,876 35,834 35,217 32,276 32,373 27,750 28,012 25,161 25,994 25,637 27,275 27,275 Total Equity
0.50 0.51 0.51 0.40 0.35 0.39 0.38 0.38 0.43 0.45 0.42 0.45 0.41 0.41 0.41 0.42 0.42 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDLZ 5/8
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,665 2,632 3,060 2,590 2,893 3,028 4,139 3,574 3,094 3,935 2,201 7,291 1,645 2,842 3,395 3,885 3,885 Net Income
-- -- -- -- -- -- -- -- -- -- -628 -436 -- -- -- -- -- Net Foreign Currency Exchange
Gain
2,665 2,632 3,060 2,590 2,893 3,028 4,139 3,574 3,094 3,935 2,201 7,291 1,645 2,842 3,395 3,885 3,885 Net Income From Continuing
Operations
879 879 891 886 986 931 1,440 1,485 1,345 1,077 1,059 894 823 816 811 1,047 1,047 Depreciation, Depletion and
Amortization
23.00 65.00 -200 -268 -39.00 -17.00 -165 -115 -599 492 184 44.00 31.00 -24.00 257 124 124 Change In Receivables
-65.00 -42.00 -149 -191 -151 299 -359 -556 -129 -116 -188 -49.00 62.00 -18.00 -204 31.00 31.00 Change In Inventory
152 74.00 256 241 29.00 126 83.00 300 505 793 387 659 409 5.00 236 4.00 4.00 Change In Payables And Accrued
Expense
23.00 -95.00 -656 -222 308 631 -1,050 -451 -1,110 1,063 426 623 -206 -993 -97.00 -448 -448 Change In Working Capital
41.00 -408 -168 -436 -208 38.00 251 -351 369 -64.00 -186 -30.00 -156 89.00 195 -626 -626 Change In DeferredTax
-- -- -- -- 178 164 174 181 162 128 141 136 140 137 128 135 135 Stock Based Compensation
400 456 593 753 190 275 -1,261 82.00 -63.00 174 -319 -5,531 146 -632 -625 -137 -137 Cash Flow from Others
4,008 3,464 3,720 3,571 4,141 5,084 3,748 4,520 3,923 6,410 3,562 3,728 2,838 2,593 3,948 3,965 3,965 Cash Flow from Operations
-1,006 -1,171 -1,169 -1,241 -1,367 -1,330 -1,661 -1,771 -1,610 -1,622 -1,642 -1,514 -1,224 -1,014 -1,095 -925 -925 Purchase Of Property, Plant,
Equipment
18.00 1,668 -- -- -- -- 8.00 43.00 133 143 7.00 60.00 138 109 398 82.00 82.00 Sale Of Property, Plant, Equipment
-- -- -- -- -99.00 -- -9,848 -- -- -119 -7.00 -527 -246 -- -528 -284 -- Purchase Of Business
-- -- -- -- 97.00 41.00 4,039 -- 200 60.00 -- 4,124 303 604 1.00 167 -- Sale Of Business
-68.00 28.00 1,053 -7,175 49.00 50.00 -- -- -410 55.00 -- 506 -- -- -- -- -117 Cash From Other Investing Activities
-1,056 525 -116 -8,416 -1,320 -1,239 -7,462 -1,728 -1,687 -1,483 -1,642 2,649 -1,029 -301 -1,224 -960 -960 Cash Flow from Investing
-688 -1,175 -1,254 -3,708 -777 -- -- -- -- -2,900 -1,700 -3,622 -2,601 -2,174 -2,020 -1,480 -1,480 Repurchase of Stock
-1,230 -1,604 -912 10,672 311 -1,411 6,435 -1,643 2,373 -2,976 -218 -1,379 1,704 -196 839 -78.00 -78.00 Net Issuance of Debt
-1,280 -1,437 -1,562 -1,638 -1,663 -1,712 -2,175 -2,043 -2,058 -943 -964 -1,008 -1,094 -1,198 -1,359 -1,542 -1,542 Cash Flow for Dividends
-20.00 265 8.00 -205 72.00 -10.00 -72.00 511 -111 132 194 126 129 207 211 313 313 Other Financing
-3,218 -3,951 -3,720 5,121 -2,057 -3,133 4,188 -3,175 204 -6,687 -2,688 -5,883 -1,862 -3,361 -2,329 -2,787 -2,787 Cash Flow from Financing
-232 34.00 -77.00 328 677 857 380 -507 2,501 -1,853 -991 239 -129 -980 339 228 228 Net Change in Cash
-1,006 -1,171 -1,169 -1,241 -1,367 -1,330 -1,661 -1,771 -1,610 -1,622 -1,642 -1,514 -1,224 -1,014 -1,095 -925 -925 Capital Expenditure
3,002 2,293 2,551 2,330 2,774 3,754 2,087 2,749 2,313 4,788 1,920 2,214 1,614 1,579 2,853 3,040 3,040 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDLZ 6/8
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
14.94 11.90 12.63 13.19 9.16 8.76 8.52 12.23 14.63 16.12 28.61 10.10 42.22 22.53 17.56 20.71 20.90 PE Ratio(TTM)
-- 14.63 17.18 17.12 8.60 7.32 9.81 14.38 19.08 13.28 30.35 9.88 87.61 44.72 18.47 27.49 27.74 Price to Owner Earnings
(TTM)
1.33 1.04 1.34 1.20 1.16 1.19 1.01 1.23 1.40 1.86 2.18 2.53 2.69 2.45 2.27 2.91 2.94 Price to Book
13.30 13.69 15.19 14.47 9.51 7.04 17.53 15.87 19.76 13.00 31.95 32.47 42.63 40.84 20.72 26.39 26.64 Price-to-Free-Cash-Flow
Ratio
9.97 9.05 10.41 9.45 6.38 5.20 9.66 9.63 11.63 9.74 17.32 19.45 24.40 25.01 15.00 20.24 20.43 Price-to-Operating-Cash-
Flow Ratio
1.24 0.92 1.16 0.93 0.66 0.68 1.12 1.21 1.30 1.79 1.81 2.48 2.69 2.53 2.29 3.10 3.13 PS Ratio
-- 1.44 -- -- -- 14.18 36.27 -- -- -- -- 0.81 3.30 13.10 -- -- -- PEG Ratio
1.62 1.20 1.47 1.45 1.11 1.23 1.98 1.91 1.72 2.12 2.21 2.85 3.21 3.11 2.91 3.75 3.76 EV-to-Revenue
9.47 7.29 9.28 10.51 9.76 7.77 16.84 14.39 14.05 16.72 17.21 9.00 29.82 18.60 18.33 19.47 19.54 EV-to-EBITDA
11.27 8.64 11.18 12.74 12.43 9.15 27.54 20.93 20.45 22.02 22.68 9.95 42.29 22.92 22.83 24.66 24.75 EV-to-EBIT
8.87 11.57 8.94 7.85 8.05 10.93 3.63 4.78 4.89 4.54 4.41 10.05 2.36 4.36 4.38 4.06 4.04 Return on Capital %
-- 15.66 2.56 2.87 7.39 10.68 10.05 3.73 -5.44 -6.20 -5.25 16.31 16.63 5.32 3.39 -0.58 -0.61 Forward Rate of Return
-- -- -- -- -- -- 10.34 11.64 12.34 17.11 18.20 19.77 20.20 18.97 17.36 23.18 23.39 Shiller PE Ratio
3.30 4.72 4.11 4.87 6.37 6.52 5.62 4.74 3.93 1.53 1.60 1.43 1.62 1.92 2.40 1.98 1.96 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Market Cap
39,752 30,793 38,233 32,752 25,832 30,866 36,063 43,243 45,250 60,201 60,440 70,849 67,753 63,692 58,084 79,305 79,672
51,988 41,025 48,815 53,194 44,839 47,851 62,414 68,311 60,340 74,817 75,568 84,465 83,265 80,663 75,432 96,919 97,286 Enterprise Value
23.31 18.44 23.37 21.36 17.58 17.79 20.63 24.46 25.45 35.30 36.33 44.84 44.33 42.80 40.03 55.08 55.60 Month End Stock Price
-17.44 -16.60 -16.37 -26.17 -26.97 -22.33 -32.59 -32.04 -21.78 -22.00 -22.47 -20.86 -22.66 -24.33 -24.80 -24.99 -24.99 Net Cash (per share)
-11.90 -11.91 -11.47 -19.54 -20.08 -16.36 -24.73 -23.99 -15.48 -15.81 -16.39 -16.38 -18.25 -19.79 -20.32 -20.59 -20.59 Net Current Asset Value
(per share)
-14.87 -14.08 -13.52 -22.29 -23.30 -18.99 -28.27 -27.73 -18.14 -18.94 -19.71 -18.79 -20.57 -22.11 -22.74 -22.95 -22.95 Net-Net Working Capital (per
share)
-- -- 28.98 30.17 29.16 33.77 30.59 30.34 28.49 31.33 29.55 29.76 28.86 28.88 30.09 29.41 29.41 Projected FCF (per share)
-- -- -- -- -- -- 19.86 21.83 21.09 21.36 21.69 20.46 20.41 27.25 31.07 35.89 35.89 Median PS (per share)
-- 12.72 -- -- 18.38 20.54 1.86 6.57 -- -- -- 55.19 13.45 14.42 -- -- -- Peter Lynch Fair Value (per
share)
-- 18.18 20.38 14.62 14.51 16.77 10.34 11.80 20.09 23.62 23.81 24.04 18.20 15.74 13.40 14.89 14.89 Earnings Power Value
(EPV)
1.76 1.70 1.90 1.33 1.51 1.62 1.02 1.18 1.43 1.78 1.87 2.56 2.01 1.98 1.90 2.32 2.32 Altman Z-Score
6.00 6.00 7.00 5.00 5.00 7.00 4.00 4.00 6.00 6.00 6.00 5.00 6.00 6.00 7.00 8.00 8.00 Piotroski F-Score
-2.47 -2.52 -2.38 -2.31 -2.61 -2.55 -2.19 -2.50 -2.54 -2.78 -2.69 -2.87 -2.48 -2.38 -2.68 -2.51 -2.51 Beneish M-Score
0.71 0.67 0.68 0.86 0.61 0.68 0.93 0.63 0.51 0.62 0.59 0.62 0.65 0.70 0.68 0.72 0.70 Scaled Net Operating
Assets
-0.48 -2.35 -0.98 10.93 0.10 -1.24 8.22 0.81 1.10 -1.40 0.40 1.42 -0.28 0.85 1.05 1.34 1.34 Sloan Ratio (%)
1.07 0.93 0.79 0.63 1.03 1.08 1.04 0.88 1.05 0.92 0.84 0.82 0.59 0.48 0.45 0.50 0.50 Current Ratio
0.69 0.55 0.45 0.39 0.69 0.76 0.70 0.57 0.80 0.66 0.59 0.58 0.42 0.31 0.30 0.33 0.33 Quick Ratio
23.52 22.83 23.76 24.05 22.89 19.36 21.26 24.71 28.06 35.30 39.20 46.94 46.10 47.19 45.87 56.63 59.96 Highest Stock Price
19.35 18.26 17.99 19.77 16.28 13.75 17.79 19.96 24.14 25.45 32.01 34.34 36.34 39.30 37.57 39.74 46.37 Lowest Stock Price
0.96 2.08 2.03 6.27 4.17 -18.08 -0.75 -1.13 -0.57 4.08 2.45 5.03 3.27 2.63 2.50 0.77 0.77 Shares Buyback Ratio (%)
6.09 7.38 0.08 12.75 17.90 -2.42 -29.80 10.38 -3.15 0.81 1.55 -9.65 -8.97 2.63 3.20 1.64 1.64 YoY Rev. per Sh. Growth
(%)
-22.89 -- 19.35 -12.43 17.28 6.84 17.73 -15.90 -13.93 26.59 -41.55 247 -76.58 77.88 23.24 16.23 16.67 YoY EPS Growth (%)
-17.23 3.76 -7.97 -0.20 -0.39 36.21 -47.82 24.32 -10.38 4.46 2.43 123 -69.04 59.55 -2.22 23.29 23.43 YoY EBITDA Growth (%)
-- 7.44 -4.55 -4.70 -1.84 0.66 1.58 -3.15 -12.15 -11.61 -9.80 12.43 12.81 1.72 -0.97 -3.56 -0.80 EBITDA 5-Y Growth (%)
1,708 1,687 1,645 1,575 1,505 1,478 1,715 1,765 1,777 1,774 1,691 1,618 1,556 1,513 1,472 1,445 1,442 Shares Outstanding (Basic
Average)
1,705 1,670 1,636 1,533 1,469 1,735 1,748 1,768 1,778 1,705 1,664 1,580 1,528 1,488 1,451 1,440 1,440 Shares Outstanding (EOP)
0.58 1.06 0.60 0.61 0.63 0.61 0.58 0.50 0.42 0.59 1.16 1.29 0.84 0.65 0.56 0.83 0.84 Beta
03/11/05 03/10/06 03/01/07 02/25/08 02/27/09 02/25/10 02/28/11 02/27/12 02/25/13 03/03/14 02/20/15 02/19/16 02/24/17 02/09/18 02/08/19 02/07/20 Filing Date
03/10/06 03/01/07 02/25/08 02/27/09 02/28/11 02/28/11 02/25/13 03/03/14 02/20/15 02/19/16 02/24/17 02/09/18 02/08/19 02/07/20 02/07/20 02/07/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDLZ 7/8
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MDLZ 8/8
Stanley Black & Decker Inc (NYSE:SWK) 03/02/2020 4:10PM EST GuruFocus
Price: $ 142.42 -0.59(-0.41%) Market Cap: $ 21.94 B Enterprise Value: $26.8 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 22.43
Cash to Debt 0.08 Operating margin (%) 12.22
Forward P/E N/A
Equity to Asset 0.44 Net-margin (%) 6.62
PE(NRI) 22.43
Interest Coverage 6.21 ROE (%) 11.54
F-Score:
P/B 2.84
ROA (%) 4.58
6 P/S 1.48
Z-Score: ROC (Joel Greenblatt) (%) 56.40
2.54 PFCF 19.97
Revenue Growth (3Y)(%) 7.00
M-Score: POCF 14.31
-2.54 EBITDA Growth (3Y)(%) 2.00
EV-to-EBIT 18.95
WACC vs 9.39% EPS Growth (3Y)(%) -0.90
ROIC 11.78% PEG 5.89
WACC
ROIC Shiller P/E 27.19
Current Ratio 1.01
Quick Ratio 0.50
Days Inventory 98.68
Days Sales Outstanding 32.45
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Stanley Black & Decker Inc is a manufacturer of hand and power tools. The company operates three business
segments: tools and storage, security, and industrial. Tools and storage, the largest segment by revenue, sells hand
2016 2,672 2,932 2,882 3,107 11,594 tools and power tools to professional end users, distributors, retail consumers, and industrial customers. Security
2017 2,856 3,287 3,359 3,464 12,967 installs electronic security systems and provides electronic security services including alarm monitoring and video
Good Signs 2018 3,209 3,644 3,495 3,635
surveillance. Industrial sells engineered fastening products such as stud-welding systems, blind inserts and tools, and
13,982 engineered plastic and mechanical fasteners. The largest end market is the United States of America.... (Read More)
Dividend Yield %: Close to 1- 2019 3,334 3,761 3,633 3,714 14,442 Competitors: HKSE:00669 , TSE:6586 , NYSE:TTC, OSTO:SKF A, NYSE:SNA, TSE:9962 , TSE:3064 ,
year high 2020 NAS:LECO, NAS:ROLL, OSTO:HUSQ A, NYSE:TKR, XTER:GIL, XSWX:SFSN, TPE:2049, NYSE:KMT,
SZSE:002791, SZSE:002444, TSE:6141, TSE:6136, TSE:6472
PE Ratio: Close to 1-year low Quarterly Earnings per Share
Insider Trades
PB Ratio: Close to 1-year low Mar Jun Sep Dec Full Year
2016 1.28 1.84 1.68 1.71 6.51
PS Ratio: Close to 1-year low 2017 2.60 1.82 1.80 1.84 8.06
2018 1.11 1.93 1.65 -0.45 4.24
DCF 2019 1.13 2.37 1.53 1.32 6.35
2020
GuruFocus does not
calculate intrinsic value: DCF Quarterly Dividends Per Share
(Earnings Based) for Mar Jun Sep Dec Full Year
companies with one star 2016 0.55 0.55 0.58 0.58 2.26
predictability or not rated. But 2017 0.58 0.58 0.63 0.63 2.42
you can go to each stock's 2018 0.63 0.63 0.66 0.66 2.58
DCF page to calculate 2019 0.66 0.66 0.69 0.69 2.70
yourself. 2020
Growth Rate
Reverse DCF
Annual Rates(per share) 10-Y 5-Y 12-M
GuruFocus does not
calculate reverse DCF growth Revenue Growth (%) 7.50 6.70 4.00
rate for companies with one EBITDA Growth (%) 10.80 3.80 10.10
star predictability or not rated. Free Cash Flow Growth (%) 0.90 -2.90 41.60
But you can go to each
Book Value Growth (%) 4.00 5.40 7.30
stock's DCF page to calculate
yourself. EPS Growth (%) 13.90 -0.40 59.10
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWK 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
35.62 38.51 48.03 51.88 55.42 46.48 49.92 55.12 60.12 68.58 70.98 73.16 78.23 85.06 92.21 95.92 95.92 Revenue per Share
6.03 6.34 7.46 8.12 7.12 6.81 4.18 7.11 6.73 7.49 10.72 11.43 12.36 14.50 11.91 13.12 13.12 EBITDA per Share
4.90 5.21 6.02 6.19 4.82 4.32 1.85 4.70 4.06 4.71 7.90 8.72 9.61 11.48 8.57 9.39 9.39 EBIT per Share
4.36 3.16 3.46 4.00 3.84 2.79 1.32 3.97 5.30 3.09 4.76 5.79 6.53 8.05 3.99 6.35 6.35 Earnings per Share (diluted)
2.81 3.18 3.47 3.87 2.74 2.82 1.00 3.57 2.75 3.28 5.37 5.92 6.53 8.05 3.99 6.35 6.35 eps without NRI
4.41 3.20 3.97 5.34 5.69 5.23 2.38 5.15 6.71 3.71 5.22 5.13 5.20 3.80 4.19 6.97 6.97 Owner Earnings per Share (TTM)
3.85 3.62 4.29 5.44 4.71 5.55 3.69 4.10 3.56 3.32 6.29 5.70 5.66 1.48 5.07 7.18 7.13 Free Cashflow per Share
1.08 1.14 1.18 1.22 1.26 1.30 1.34 1.64 1.80 1.98 2.04 2.14 2.26 2.42 2.58 2.70 2.70 Dividends per Share
15.01 17.24 18.96 21.50 21.63 24.68 42.18 41.43 41.68 43.73 40.92 37.75 41.73 49.03 46.84 50.24 50.24 Book Value per Share
3.75 4.59 -0.85 -5.95 -11.28 -7.56 -10.80 -14.07 -20.51 -24.45 -22.90 -24.78 -17.22 -30.72 -35.39 -34.36 -34.36 Tangible Book per Share
7.09 12.72 12.21 18.72 20.43 17.19 20.65 20.42 22.12 27.03 24.49 24.68 25.09 24.74 27.75 24.07 24.07 Total Debt per Share
48.99 48.04 50.29 48.48 34.10 51.51 66.87 67.60 73.97 80.69 96.08 107 115 170 120 166 142 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
35.02 20.11 19.32 20.52 17.87 12.15 4.40 9.62 12.93 7.28 11.50 14.44 15.90 16.73 7.50 11.26 11.54 Return on Equity %
13.91 8.43 7.74 7.74 6.37 4.66 1.99 4.34 5.56 3.03 4.70 5.71 6.29 7.07 3.14 4.78 4.58 Return on Assets %
51.02 51.32 49.83 46.36 37.52 43.89 21.53 36.93 34.84 43.76 65.69 74.48 74.31 84.12 58.86 63.91 56.40 Return on Capital %
20.65 19.70 18.86 14.71 11.36 10.15 10.43 10.96 10.59 10.64 11.65 13.05 14.10 13.91 8.57 12.48 11.78 Return on Invested Capital %
8.22 11.92 9.03 9.73 7.56 9.56 10.33 10.50 10.30 10.73 7.24 6.08 8.77 9.20 10.29 9.86 9.39 Weighted Average Cost Of Capital (WACC) %
-- -- -- 6.80 5.91 4.25 4.56 4.08 4.12 4.14 4.40 4.72 5.10 5.83 6.94 7.24 5.85 Effective Interest Rate on Debt %
36.82 35.96 36.29 37.91 37.76 40.36 35.89 36.80 36.49 35.85 36.18 36.45 36.81 36.85 34.69 33.27 33.27 Gross Margin %
13.76 13.53 12.52 12.10 10.43 10.29 9.15 11.66 11.80 11.14 13.29 14.19 14.11 13.72 12.01 12.22 12.22 Operating Margin %
12.24 8.21 7.20 7.72 6.93 6.00 2.64 7.19 8.82 4.50 6.71 7.91 8.35 9.47 4.33 6.62 6.62 Net Margin %
10.81 9.41 8.92 10.49 8.49 11.93 7.39 7.43 5.92 4.85 8.86 7.80 7.23 1.74 5.50 7.49 7.49 FCF Margin %
0.47 0.74 0.64 0.87 0.94 0.70 0.49 0.49 0.53 0.62 0.60 0.65 0.60 0.46 0.54 0.40 0.40 Debt to Equity
0.43 0.41 0.39 0.36 0.35 0.42 0.46 0.44 0.42 0.41 0.41 0.38 0.41 0.44 0.40 0.44 0.44 Total Equity to Total Asset
0.21 0.30 0.25 0.32 0.33 0.29 0.23 0.22 0.22 0.25 0.24 0.25 0.25 0.20 0.22 0.18 0.18 Total Debt to Total Asset
41.85 36.94 38.99 38.01 34.71 31.31 27.03 22.20 23.01 24.11 25.34 26.29 27.75 27.51 25.20 24.02 23.03 Gross Profit to Total Asset %
1.14 1.03 1.07 1.00 0.92 0.78 0.75 0.60 0.63 0.67 0.70 0.72 0.75 0.75 0.73 0.72 0.69 Asset Turnover
0.38 0.36 0.34 0.32 0.46 0.46 1.34 0.46 0.66 0.60 0.38 0.36 0.35 0.30 0.65 0.43 0.43 Dividend Payout Ratio
70.07 67.73 68.08 67.14 55.96 50.61 68.72 52.35 48.39 45.77 38.78 38.06 35.80 39.07 37.51 32.45 32.45 Days Sales Outstanding
57.42 56.85 63.47 67.22 61.15 67.16 75.83 73.86 77.18 81.14 79.66 78.82 81.73 90.09 89.27 79.08 79.08 Days Accounts Payable
75.59 75.29 75.53 77.87 70.96 72.13 62.20 78.32 73.84 72.57 76.57 79.41 74.85 77.93 87.78 87.65 98.68 Days Inventory
88.24 86.17 80.14 77.79 65.77 55.58 55.09 56.81 45.05 37.20 35.69 38.65 28.92 26.91 36.02 41.02 52.05 Cash Conversion Cycle
4.83 4.85 4.83 4.69 5.14 5.06 5.87 4.66 4.94 5.03 4.77 4.60 4.88 4.68 4.16 4.16 3.70 Inventory Turnover
0.63 0.64 0.64 0.62 0.62 0.60 0.64 0.63 0.64 0.64 0.64 0.64 0.63 0.63 0.65 0.67 0.67 COGS to Revenue
0.13 0.13 0.13 0.13 0.12 0.12 0.11 0.14 0.13 0.13 0.13 0.14 0.13 0.14 0.16 0.16 0.18 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWK 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,997 3,285 4,019 4,361 4,426 3,737 7,497 9,377 10,022 10,890 11,339 11,172 11,594 12,967 13,982 14,442 14,442 Revenue
1,894 2,104 2,560 2,708 2,755 2,229 4,807 5,926 6,365 6,986 7,236 7,100 7,326 8,188 9,131 9,637 9,637 Cost of Goods Sold
1,104 1,181 1,459 1,653 1,671 1,508 2,690 3,451 3,657 3,904 4,103 4,072 4,268 4,778 4,851 4,806 4,806 Gross Profit
36.82 35.96 36.29 37.91 37.76 40.36 35.89 36.80 36.49 35.85 36.18 36.45 36.81 36.85 34.69 33.27 33.27 Gross Margin %
691 737 955 1,029 1,090 1,014 1,994 2,342 2,463 2,676 2,575 2,459 2,609 2,983 3,144 3,008 3,008 Selling, General, & Admin. Expense
-0.00 -- -0.00 96.40 120 109 10.50 15.10 11.90 14.20 20.90 27.30 23.20 16.30 28.00 33.00 33.00 Other Operating Expense
412 445 503 528 462 385 686 1,093 1,183 1,213 1,507 1,586 1,636 1,779 1,679 1,765 1,765 Operating Income
13.76 13.53 12.52 12.10 10.43 10.29 9.15 11.66 11.80 11.14 13.29 14.19 14.11 13.72 12.01 12.22 12.22 Operating Margin %
-- -- -- 5.10 9.20 3.10 8.70 26.50 10.10 12.80 13.60 15.20 23.20 40.10 68.70 53.90 53.90 Interest Income
-- -- -- -85.20 -92.10 -63.70 -110 -140 -144 -160 -177 -180 -195 -223 -278 -284 -284 Interest Expense
-- -- -- -80.10 -82.90 -60.60 -101 -114 -134 -147 -164 -165 -171 -183 -209 -230 -230 Net Interest Income
-88.10 -86.30 -136 -12.80 -85.50 -40.70 -417 -321 -516 -478 -258 -270 -235 -68.80 -448 -404 -404 Other Income (Expense)
-- -- -- -- -1.70 -2.00 -- 0.10 0.80 1.00 -0.50 1.60 0.40 0.40 -0.60 -2.20 -3.00 Other Income (Minority Interest)
324 358 367 435 293 283 169 659 533 588 1,085 1,151 1,229 1,528 1,022 1,130 1,130 Pre-Tax Income
-87.30 -86.50 -76.40 -109 -72.50 -54.50 -18.00 -52.30 -75.80 -68.60 -227 -249 -262 -301 -416 -161 -161 Tax Provision
26.93 24.15 20.81 25.15 24.73 19.24 10.68 7.94 14.22 11.67 20.93 21.60 21.29 19.69 40.73 14.23 14.23 Tax Rate %
237 272 291 325 221 227 151 607 457 519 858 902 968 1,227 606 958 958 Net Income (Continuing Operations)
130 -2.10 -1.20 11.30 87.90 -2.50 47.60 67.90 426 -29.70 -96.30 -20.10 -- -- -- -- -- Net Income (Discontinued
Operations)
367 270 290 337 307 224 198 675 884 490 761 884 968 1,227 605 956 956 Net Income
12.24 8.21 7.20 7.72 6.93 6.00 2.64 7.19 8.82 4.50 6.71 7.91 8.35 9.47 4.33 6.62 6.62 Net Margin %
4.47 3.23 3.54 4.09 3.88 2.81 1.34 4.06 5.41 3.16 4.87 5.96 6.63 8.20 4.06 6.44 6.45 EPS (Basic)
4.36 3.16 3.46 4.00 3.84 2.79 1.32 3.97 5.30 3.09 4.76 5.79 6.53 8.05 3.99 6.35 6.35 EPS (Diluted)
84.15 85.32 83.67 84.05 79.87 80.40 150 170 167 159 160 153 148 152 152 151 151 Shares Outstanding (Diluted
Average)
95.00 96.50 121 162 183 200 349 410 445 441 450 414 408 461 507 560 560 Depreciation, Depletion and
Amortization
507 541 625 682 568 547 627 1,209 1,122 1,189 1,712 1,745 1,832 2,211 1,807 1,975 1,975 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWK 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
250 658 177 240 212 401 1,745 907 716 496 497 465 1,132 638 289 298 298 Cash And Cash Equivalents
250 658 177 240 212 401 1,745 907 716 496 497 465 1,132 638 289 298 298 Cash, Cash Equivalents, Marketable
Securities
575 610 750 802 679 518 1,412 1,345 1,329 1,366 1,205 1,165 1,137 1,388 1,437 1,284 1,284 Accounts Receivable
63.40 73.00 51.00 107 91.50 64.40 239 221 226 275 316 305 301 402 515 567 567 Inventories, Raw Materials &
Components
28.50 38.80 91.40 57.40 58.20 49.00 118 135 122 123 141 136 133 156 151 162 162 Inventories, Work In Process
315 349 457 392 365 253 915 915 957 1,076 1,105 1,085 1,044 1,461 1,707 1,526 1,526 Inventories, Finished Goods
0.00 -- -- -0.00 -- -0.00 -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
407 461 599 556 515 366 1,272 1,271 1,305 1,473 1,563 1,526 1,478 2,018 2,374 2,255 2,255 Total Inventories
142 97.50 113 199 94.00 113 381 1,467 565 469 493 339 876 274 299 449 449 Other Current Assets
1,375 1,826 1,639 1,801 1,498 1,412 4,816 5,090 4,111 4,017 3,949 3,662 4,789 4,559 4,569 4,457 4,457 Total Current Assets
42.80 46.00 59.80 59.10 62.30 67.90 155 129 143 176 171 165 144 164 168 165 165 Land And Improvements
223 266 294 273 278 284 464 423 471 537 543 525 519 612 626 630 630 Buildings And Improvements
859 877 946 1,093 1,093 1,113 1,525 1,657 2,001 2,213 2,277 2,377 2,382 2,744 3,019 3,324 3,324 Machinery, Furniture, Equipment
1,212 1,297 1,429 1,449 1,458 1,495 2,187 2,258 2,689 3,012 3,081 3,167 3,160 3,660 3,970 4,291 4,291 Gross Property, Plant and Equipment
-816 -830 -870 -884 -878 -919 -1,021 -1,115 -1,359 -1,533 -1,627 -1,717 -1,709 -1,917 -2,055 -2,331 -2,331 Accumulated Depreciation
396 467 559 565 580 576 1,167 1,143 1,330 1,479 1,454 1,450 1,451 1,743 1,915 1,960 1,960 Property, Plant and Equipment
928 1,060 1,622 2,207 2,596 2,595 8,814 9,382 9,947 10,600 10,027 9,626 8,994 12,284 12,441 12,860 12,860 Intangible Assets
-- 741 1,100 1,513 1,739 1,818 5,942 6,438 7,016 7,563 7,276 7,084 6,694 8,776 8,957 9,238 9,238 Goodwill
152 192 116 190 193 187 343 335 456 440 419 390 402 513 482 1,321 1,321 Other Long Term Assets
2,851 3,545 3,935 4,763 4,867 4,769 15,139 15,949 15,844 16,535 15,849 15,128 15,635 19,098 19,408 20,597 20,597 Total Assets
298 328 445 499 462 410 999 1,199 1,346 1,553 1,579 1,533 1,640 2,021 2,233 2,088 2,088 Accounts Payable
-- -- -- -- -- -- -- 224 221 86.30 139 158 118 142 67.50 244 244 Total Tax Payable
715 702 931 950 966 894 2,325 1,571 2,520 2,630 2,622 2,506 2,610 3,210 3,517 3,544 3,544 Accounts Payable & Accrued
Expense
103 170 320 293 228 298 418 527 11.50 403 7.50 7.60 12.10 983 379 482 482 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 172 78.10 75.80 84.40 89.20 81.90 95.60 98.60 109 109 Current Deferred Revenue
-- -- -- -- -- -- -- 172 78.10 75.80 84.40 89.20 81.90 95.60 98.60 358 358 DeferredTaxAndRevenue
3.70 3.10 -- 20.40 -- -- -- 1,060 465 128 118 200 103 103 7.50 22.40 22.40 Other Current Liabilities
821 875 1,251 1,263 1,193 1,192 2,742 3,330 3,075 3,236 2,832 2,803 2,808 4,392 4,002 4,406 4,406 Total Current Liabilities
482 895 679 1,212 1,384 1,085 3,018 2,926 3,527 3,799 3,840 3,792 3,815 2,828 3,820 3,176 3,176 Long-Term Debt
482 895 679 1,212 1,384 1,085 3,018 2,926 3,527 3,799 3,840 3,792 3,815 2,828 3,820 3,176 3,176 Long-Term Debt & Capital Lease
Obligation
0.47 0.74 0.64 0.87 0.94 0.70 0.49 0.49 0.53 0.62 0.60 0.65 0.60 0.46 0.54 0.40 0.40 Debt to Equity
-- -- -- -- -- 137 643 724 816 744 750 669 644 630 595 609 609 PensionAndRetirementBenefit
72.30 -- 67.20 80.50 120 120 901 851 946 900 993 826 735 436 705 731 731 NonCurrent Deferred Liabilities
-- -- -- -- 18.50 25.40 52.70 63.20 60.00 81.30 82.80 47.60 6.60 2.80 3.70 5.90 5.90 Minority Interest
239 330 386 479 445 224 766 1,052 754 976 923 1,179 1,259 2,507 2,446 2,532 2,532 Other Long-Term Liabilities
1,614 2,100 2,383 3,035 3,142 2,758 8,070 8,882 9,117 9,655 9,337 9,269 9,261 10,793 11,568 11,454 11,454 Total Liabilities
238 238 234 234 231 231 441 441 442 442 442 442 442 442 442 442 442 Common Stock
-- -- -- -- -- -- -- -- -- -- -- -- -- 750 750 1,500 1,500 Preferred Stock
1,461 1,657 1,884 2,046 2,200 2,296 2,302 2,707 3,300 3,485 3,926 4,492 5,127 5,999 6,219 6,773 6,773 Retained Earnings
-171 -200 -183 47.70 -152 -76.50 -116 -349 -388 -499 -1,270 -1,694 -1,921 -1,589 -1,814 -1,885 -1,885 Accumulated other comprehensive
income (loss)
-- -- -- -- 91.50 127 4,886 4,581 4,474 4,879 4,727 4,422 4,774 4,643 4,621 4,493 4,493 Additional Paid-In Capital
-291 -251 -383 -505 -577 -510 -420 -308 -1,097 -1,454 -1,353 -1,815 -2,030 -1,924 -2,371 -2,185 -2,185 Treasury Stock
1,237 1,445 1,552 1,729 1,706 1,986 7,017 7,004 6,667 6,799 6,429 5,812 6,367 8,302 7,836 9,136 9,136 Total Equity
0.43 0.41 0.39 0.36 0.35 0.42 0.46 0.44 0.42 0.41 0.41 0.38 0.41 0.44 0.40 0.44 0.44 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWK 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
367 270 290 337 307 226 198 675 884 490 761 884 968 1,227 606 958 958 Net Income
367 270 290 337 307 226 198 675 884 490 761 884 968 1,227 606 958 958 Net Income From Continuing
Operations
95.00 96.50 121 162 183 200 349 410 445 441 450 414 408 461 507 560 560 Depreciation, Depletion and
Amortization
-18.30 23.40 49.90 -30.60 129 106 7.90 -11.00 -70.40 -0.50 68.40 -53.90 -410 -906 -48.80 138 -- Change In Receivables
-43.50 -19.30 -62.70 47.40 26.50 153 35.30 -90.20 11.40 -102 -176 -54.70 -23.90 -303 -402 138 -- Change In Inventory
54.80 12.70 40.50 1.40 -37.50 -103 129 216 133 -51.00 131 -68.70 167 364 281 -45.50 -- Change In Payables And Accrued
Expense
-46.80 -54.00 -34.40 -3.50 33.50 81.30 -30.60 -59.80 4.40 -69.50 -112 -240 -309 -815 -168 -122 -122 Change In Working Capital
-- -- -- -- -- -- -36.20 -82.10 -99.40 -136 42.40 -1.30 -25.70 -103 191 -17.90 -- Change In DeferredTax
-- -- -- -- 13.90 20.70 85.10 68.90 89.70 66.40 57.10 67.90 81.20 78.70 76.50 88.80 -- Stock Based Compensation
-43.60 50.20 62.80 48.80 -37.80 4.20 150 -13.40 -368 34.30 34.40 48.30 52.50 -180 48.50 38.70 110 Cash Flow from Others
372 362 439 544 517 539 739 999 966 868 1,296 1,182 1,186 669 1,261 1,506 1,506 Cash Flow from Operations
-47.60 -53.30 -80.50 -21.40 -46.20 -20.50 -20.10 -302 -373 -340 -291 -311 -347 -442 -492 -425 -425 Purchase Of Property, Plant,
Equipment
208 -16.90 31.90 17.60 -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -643 -575 -24.30 -550 -1,180 -707 -934 -7.10 -17.60 -59.30 -2,584 -528 -685 -685 Purchase Of Business
-- -- -- -- 205 -- 949 27.10 1,261 93.50 -- -- 24.00 757 -- 76.60 76.90 Sale Of Business
-- -- -- -- -- -- -29.00 -39.10 -- -- -61.40 -- -- -41.20 -21.70 -261 -261 Purchase Of Investment
-- -- -- -- 19.10 -- 74.00 -- 5.80 3.60 -- 138 105 -- 25.70 8.00 8.00 Sale Of Investment
-297 -313 -578 -70.60 -67.10 -70.40 -154 29.40 -3.50 -21.30 -22.70 -13.70 339 743 26.60 77.50 77.20 Cash From Other Investing Activities
-137 -384 -626 -717 -465 -115 270 -1,464 183 -1,198 -382 -205 61.10 -1,567 -989 -1,209 -1,209 Cash Flow from Investing
27.70 38.70 64.40 96.50 19.10 61.20 396 120 126 155 71.30 164 419 90.80 38.50 146 146 Issuance of Stock
-- -- -202 -207 -103 -17.80 -4.90 -11.10 -1,074 -39.20 -28.20 -650 -374 -28.70 -527 -27.50 -27.50 Repurchase of Stock
-- -- -- -- -- -- -- -- -- -- -- -- -- 726 -- 735 -- Net Issuance of Preferred Stock
-133 481 -70.60 495 131 -184 230 -182 -8.80 770 -438 1.20 1.90 -79.50 446 -672 -672 Net Issuance of Debt
-89.40 -94.90 -96.10 -99.80 -99.00 -104 -202 -276 -304 -313 -321 -320 -331 -363 -385 -402 -402 Cash Flow for Dividends
-1.30 -7.60 5.90 -73.80 3.70 -4.40 -106 -22.80 -77.10 -418 -50.40 -70.60 -149 -50.50 -134 -72.10 663 Other Financing
-196 417 -298 211 -48.20 -249 314 -372 -1,337 156 -766 -876 -433 295 -562 -293 -293 Cash Flow from Financing
45.60 408 -481 63.80 -28.80 189 1,345 -836 -191 -220 0.40 -31.20 712 -522 -344 3.20 3.20 Net Change in Cash
-47.60 -53.30 -80.50 -86.90 -141 -93.40 -186 -302 -373 -340 -291 -311 -347 -442 -492 -425 -425 Capital Expenditure
324 309 359 457 376 446 554 697 593 528 1,005 871 839 226 769 1,081 1,081 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWK 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.21 15.20 14.53 12.09 8.88 18.53 83.59 17.07 13.90 26.20 20.18 18.34 17.62 21.05 28.24 26.10 22.43 PE Ratio(TTM)
11.11 15.01 12.65 9.08 6.00 9.86 28.16 13.13 11.03 21.73 18.42 20.81 22.04 44.66 28.60 23.78 20.43 Price to Owner Earnings
(TTM)
3.26 2.79 2.65 2.25 1.58 2.09 1.59 1.63 1.77 1.85 2.35 2.83 2.75 3.46 2.56 3.30 2.84 Price to Book
13.08 10.47 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Price to Tangible Book
12.75 13.27 11.71 8.88 7.24 7.74 21.88 16.38 20.54 24.27 15.30 18.34 20.31 118 23.04 23.24 19.97 Price-to-Free-Cash-Flow
Ratio
11.12 11.31 9.56 7.47 5.27 7.74 15.72 11.45 12.66 14.76 11.86 13.56 14.36 39.09 14.18 16.66 14.31 Price-to-Operating-Cash-
Flow Ratio
1.38 1.25 1.05 0.94 0.62 1.11 1.34 1.23 1.23 1.18 1.35 1.46 1.47 2.00 1.30 1.73 1.48 PS Ratio
6.14 2.41 1.11 0.64 1.04 6.60 -- -- -- 4.95 1.14 1.06 1.06 1.20 2.71 7.59 5.89 PEG Ratio
1.46 1.35 1.23 1.19 0.93 1.38 1.72 1.50 1.46 1.50 1.63 1.77 1.74 2.32 1.63 2.08 1.86 EV-to-Revenue
8.62 8.19 7.91 7.62 7.23 9.42 20.52 11.61 13.18 13.73 10.82 11.35 11.03 13.60 12.61 15.22 13.57 EV-to-EBITDA
10.60 9.97 9.81 10.02 10.66 14.85 46.22 17.56 21.93 21.84 14.68 14.88 14.19 17.18 17.52 21.25 18.95 EV-to-EBIT
9.43 10.03 10.19 9.98 9.38 6.73 2.16 5.69 4.56 4.58 6.81 6.72 7.05 5.82 5.71 4.71 5.28 Return on Capital %
9.18 13.60 20.98 28.93 25.48 12.43 -3.22 -2.18 2.97 10.30 20.48 21.30 21.10 20.35 14.95 6.81 7.36 Forward Rate of Return
27.79 23.48 21.70 16.84 11.17 16.13 21.96 20.53 20.47 21.09 25.59 26.76 26.65 35.62 24.76 31.65 27.19 Shiller PE Ratio
2.20 2.37 2.35 2.52 3.70 2.52 2.00 2.43 2.43 2.45 2.12 2.01 1.97 1.43 2.15 1.63 1.89 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,037 4,025 4,116 3,897 2,690 4,145 11,124 11,428 11,832 12,546 15,097 16,430 17,497 26,139 18,117 25,194 21,936 Market Cap
4,371 4,433 4,938 5,161 4,108 5,153 12,867 14,036 14,714 16,333 18,530 19,812 20,199 30,065 22,780 30,061 26,803 Enterprise Value
48.99 48.04 50.29 48.48 34.10 51.51 66.87 67.60 73.97 80.69 96.08 107 115 170 120 166 142 Month End Stock Price
-16.55 -17.21 -26.96 -34.76 -37.38 -29.60 -38.34 -47.55 -52.90 -59.43 -56.79 -57.49 -53.33 -65.94 -74.57 -73.43 -73.43 Net Cash (per share)
-2.90 -3.28 -9.10 -15.34 -21.07 -17.04 -19.88 -22.81 -31.67 -36.79 -34.82 -36.73 -29.36 -45.36 -51.24 -55.94 -55.94 Net Current Asset Value
(per share)
-8.84 -9.01 -16.44 -23.82 -27.67 -22.50 -28.15 -37.83 -42.59 -48.10 -46.07 -46.86 -42.90 -57.50 -64.56 -69.55 -69.55 Net-Net Working Capital (per
share)
39.59 46.86 65.65 80.28 87.59 70.65 57.44 61.70 63.60 67.48 77.14 81.15 100 102 97.67 106 106 Projected FCF (per share)
37.78 46.27 59.01 59.99 62.34 52.36 58.70 64.67 72.00 83.98 86.54 89.48 97.95 110 124 133 133 Median PS (per share)
-- 19.94 45.24 76.15 32.84 17.82 -- -- -- 21.71 84.31 100 108 141 44.22 -- -- Peter Lynch Fair Value (per
share)
15.39 18.12 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Graham Number (per share)
35.39 37.89 40.33 42.49 53.70 59.08 39.89 47.83 58.45 68.57 93.46 86.13 90.95 92.39 80.45 88.16 88.16 Earnings Power Value
(EPV)
3.88 3.39 3.15 2.72 2.39 2.65 1.76 1.90 1.92 1.94 2.38 2.58 2.79 2.88 2.36 2.71 2.54 Altman Z-Score
8.00 4.00 6.00 7.00 4.00 5.00 5.00 7.00 6.00 5.00 6.00 7.00 8.00 6.00 5.00 6.00 6.00 Piotroski F-Score
-2.17 -2.50 -2.28 -2.62 -2.70 -3.00 -1.13 -2.50 -2.33 -2.40 -2.66 -2.52 -2.53 -2.05 -2.48 -2.54 -2.54 Beneish M-Score
0.65 0.65 0.67 0.76 0.66 0.62 1.84 0.64 0.60 0.67 0.60 0.58 0.60 0.73 0.62 0.64 0.59 Scaled Net Operating
Assets
4.64 8.20 12.11 10.69 5.24 -4.19 -5.35 7.15 -1.67 4.96 -0.96 -0.62 -1.78 11.13 1.72 3.20 3.20 Sloan Ratio (%)
1.67 2.09 1.31 1.43 1.26 1.18 1.76 1.53 1.34 1.24 1.39 1.31 1.71 1.04 1.14 1.01 1.01 Current Ratio
1.18 1.56 0.83 0.99 0.82 0.88 1.29 1.15 0.91 0.79 0.84 0.76 1.18 0.58 0.55 0.50 0.50 Quick Ratio
48.99 51.17 54.33 63.92 51.42 53.13 67.29 77.29 81.34 92.36 97.36 110 126 170 176 168 174 Highest Stock Price
36.50 42.20 41.95 47.46 25.38 22.75 49.58 47.83 59.25 73.97 75.64 90.51 90.14 115 108 116 126 Lowest Stock Price
-1.39 -1.68 2.33 1.79 1.86 -2.02 -107 -1.62 5.38 2.80 -1.06 2.02 0.90 -0.97 1.78 -0.47 -0.47 Shares Buyback Ratio (%)
21.75 8.11 24.73 8.02 6.81 -16.12 7.40 10.41 9.07 14.07 3.50 3.07 6.92 8.73 8.41 4.03 4.03 YoY Rev. per Sh. Growth
(%)
243 -27.52 9.49 15.61 -4.00 -27.34 -52.69 201 33.50 -41.70 54.05 21.64 12.78 23.28 -50.43 59.15 49.76 YoY EPS Growth (%)
58.17 5.19 17.71 8.72 -12.32 -4.36 -38.63 70.26 -5.30 11.23 43.09 6.64 8.16 17.35 -17.86 10.09 10.18 YoY EBITDA Growth (%)
2.84 6.27 13.00 19.78 11.94 2.77 -10.57 -9.27 -3.31 5.00 15.73 16.88 16.57 17.53 10.43 3.44 3.80 EBITDA 5-Y Growth (%)
82.08 83.47 81.78 82.31 78.90 79.79 147 166 163 155 156 148 146 150 149 148 149 Shares Outstanding (Basic
Average)
82.41 83.79 81.84 80.38 78.88 80.48 166 169 160 155 157 154 153 154 151 152 152 Shares Outstanding (EOP)
0.92 1.63 1.07 1.51 1.12 1.31 1.32 1.67 1.77 1.69 1.03 0.75 1.25 1.27 1.53 1.51 1.50 Beta
03/07/05 03/01/06 02/27/07 02/25/08 02/26/09 02/22/10 02/18/11 02/23/12 02/20/13 02/21/14 02/19/15 02/19/16 02/15/17 02/27/18 02/26/19 02/21/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWK 6/7
03/01/06 02/27/07 02/27/07 02/26/09 02/22/10 02/18/11 02/20/13 02/21/14 02/19/15 02/19/16 02/15/17 02/27/18 02/26/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SWK 7/7
Agilent Technologies Inc (NYSE:A) 03/02/2020 4:10PM EST GuruFocus
Price: $ 81.97 +4.90(+6.36%) Market Cap: $ 25.41 B Enterprise Value: $26.65 B Stock PDF
Financial Strength : 6/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 33.87
Cash to Debt 0.50 Operating margin (%) 17.30
Forward P/E N/A
Equity to Asset 0.51 Net-margin (%) 14.59
PE(NRI) 33.87
Interest Coverage 11.92 ROE (%) 15.59
F-Score:
P/B 5.29
ROA (%) 8.39
5 P/S 4.94
Z-Score: ROC (Joel Greenblatt) (%) 70.37
4.33 PFCF 43.35
Revenue Growth (3Y)(%) 8.30
M-Score: POCF 34.60
-2.35 EBITDA Growth (3Y)(%) 13.90
EV-to-EBIT 27.58
WACC vs 8.23% EPS Growth (3Y)(%) 34.00
ROIC 14.85% PEG 2.40
WACC
ROIC Shiller P/E 35.83
Current Ratio 1.64
Quick Ratio 1.27
Days Inventory 101.41
Days Sales Outstanding 67.34
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Agilent Technologies Inc has evolved into a leading life sciences and diagnostics firm. Today, Agilent's measurement
Price: Close to 10-year high
technologies serve a broad base of customers with its three operating segments: life science and applied tools (45%
2016 1,028 1,019 1,044 1,111 4,202 of fiscal 2019 sales), cross lab (36% of sales consisting of consumables and services related to its life science and
PB Ratio: Close to 10-year applied tools), and diagnostics and genomics (20%). Just over half of its sales are generated from the
2017 1,067 1,102 1,114 1,189 4,472
high biopharmaceutical, chemical, and energy end markets, but it also supports clinical lab, environmental, forensics, food,
2018 1,211 1,206 1,203 1,294 4,914 academic, and government-related organizations. The company is geographically diverse, with operations in the U.S.
PS Ratio: Close to 5-year high 2019 1,284 1,238 1,274 1,367 5,163 (31%) and China (20%) representing the largest country concentrations.... (Read More)
2020 1,357 Competitors: SHSE:603259 , NAS:DXCM, NAS:IDXX, NYSE:IQV, XSWX:LONN, NYSE:LH, NYSE:MTD,
Insider Sell: Insider Selling NYSE:DGX, NAS:EXAS, NYSE:WAT, TSE:6869, XPAR:BIM, NYSE:PKI, XAMS:PHIA, NAS:ILMN, XPAR:ERF,
Quarterly Earnings per Share NAS:ICLR, SZSE:300347, NYSE:QGEN, NYSE:CRL
Good Signs Mar Jun Sep Dec Full Year Insider Trades
2016 0.36 0.28 0.38 0.38 1.40
Operating Margin %: 2017 0.52 0.50 0.54 0.54 2.10
Expansion 2018 -0.99 0.63 0.73 0.61 0.98
2019 1.57 0.57 0.60 0.62 3.36
DCF 2020 0.63
GuruFocus does not Quarterly Dividends Per Share
calculate intrinsic value: DCF Mar Jun Sep Dec Full Year
(Earnings Based) for 2016 0.12 0.12 0.12 0.12 0.46
companies with one star 2017 0.13 0.13 0.13 0.13 0.53
predictability or not rated. But 2018 0.15 0.15 0.15 0.15 0.60
you can go to each stock's 2019 0.16 0.16 0.16 0.16 0.66
DCF page to calculate 2020 0.18
yourself.
Growth Rate
Reverse DCF Annual Rates(per share) 10-Y 5-Y 12-M
GuruFocus does not Revenue Growth (%) -0.60 6.70 7.70
calculate reverse DCF growth EBITDA Growth (%) 7.70 14.10 1.10
rate for companies with one Free Cash Flow Growth (%) 5.20 16.50 -34.10
star predictability or not rated.
Book Value Growth (%) 5.20 1.10 -2.20
But you can go to each
stock's DCF page to calculate EPS Growth (%) 0.00 23.70 -31.60
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/A 1/7
Per Share Data
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
9.30 9.37 11.28 13.35 15.56 12.95 15.42 18.63 19.43 11.29 11.98 12.05 12.77 13.72 15.12 16.24 16.61 Revenue per Share
0.56 0.79 1.44 1.91 3.07 0.74 2.81 3.86 4.09 2.24 2.14 2.39 2.62 3.36 3.79 3.87 3.90 EBITDA per Share
0.13 0.43 1.05 1.44 2.53 0.28 2.23 3.15 3.24 1.16 1.00 1.63 1.87 2.71 3.14 3.12 3.06 EBIT per Share
0.75 0.65 7.50 1.57 1.87 -0.09 1.94 2.85 3.27 2.13 1.62 1.20 1.40 2.10 0.97 3.37 2.42 Earnings per Share (diluted)
0.12 0.38 3.26 1.57 1.87 -0.09 1.94 2.85 3.27 0.65 0.69 1.31 1.40 2.10 0.97 3.37 2.42 eps without NRI
0.36 0.89 7.24 1.79 1.53 0.42 1.71 2.88 2.80 2.60 1.18 0.76 1.58 1.98 2.60 2.53 1.69 Owner Earnings per Share (TTM)
1.21 1.54 1.02 2.01 1.62 0.81 1.69 3.02 2.93 2.77 1.56 1.24 1.99 2.19 2.80 2.72 1.89 Free Cashflow per Share
-- -- -- -- -- -- -- -- 0.30 0.46 0.53 0.40 0.46 0.53 0.60 0.66 0.67 Dividends per Share
7.33 8.11 8.94 8.74 7.31 7.24 9.33 12.42 14.98 15.87 15.82 12.55 13.10 15.00 14.36 15.37 15.49 Book Value per Share
6.62 7.43 7.79 6.75 4.81 4.87 3.69 6.66 3.10 3.97 6.40 4.08 4.04 5.79 3.47 0.16 0.64 Tangible Book per Share
2.36 -- 3.68 5.64 6.07 8.40 10.67 6.30 6.83 8.11 4.96 4.99 5.88 6.25 5.66 7.79 7.87 Total Debt per Share
16.88 21.57 23.99 26.35 15.87 17.69 24.89 26.51 25.74 36.30 39.53 37.76 43.57 68.03 64.79 75.75 81.97 Month End Stock Price
Ratios
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
11.54 8.55 85.57 18.54 23.93 -1.22 23.86 26.86 24.30 14.02 10.37 8.47 10.99 15.08 6.72 23.00 15.59 Return on Equity %
5.49 4.71 46.84 8.55 9.52 -0.42 7.90 10.79 11.77 6.92 5.11 4.38 6.05 8.43 3.72 11.90 8.39 Return on Assets %
3.72 16.15 45.31 60.96 84.13 7.79 38.35 51.03 70.12 21.98 16.66 30.84 52.40 78.93 83.45 81.23 70.37 Return on Capital %
0.91 5.22 16.78 17.40 20.03 -6.73 15.53 28.96 30.28 5.64 8.44 11.11 13.60 17.12 7.28 22.16 14.85 Return on Invested Capital %
14.97 20.96 18.76 11.90 10.03 9.10 9.41 9.84 10.96 11.15 6.90 8.48 9.59 11.42 10.50 8.62 8.23 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.84 3.50 2.91 2.93 4.44 4.23 5.04 3.98 4.05 4.04 3.94 3.52 3.70 Effective Interest Rate on Debt %
47.50 50.46 53.45 54.78 55.35 51.15 53.82 53.35 52.55 48.97 48.81 50.54 52.28 53.64 54.54 54.33 53.88 Gross Margin %
1.38 4.61 9.33 10.77 13.77 1.05 10.40 16.19 16.32 9.91 10.35 12.93 14.64 18.05 18.40 18.23 17.30 Operating Margin %
8.10 6.98 66.50 11.77 12.00 -0.69 12.56 15.30 16.81 18.85 13.56 9.93 10.99 15.30 6.43 20.74 14.59 Net Margin %
12.97 16.46 9.03 15.04 10.43 6.25 10.97 16.21 15.08 24.58 12.99 10.25 15.56 15.94 18.52 16.75 11.42 FCF Margin %
0.32 -- 0.41 0.65 0.83 1.16 1.14 0.51 0.46 0.51 0.31 0.40 0.45 0.42 0.39 0.51 0.51 Debt to Equity
0.50 0.61 0.50 0.43 0.37 0.33 0.33 0.48 0.49 0.50 0.49 0.56 0.54 0.57 0.54 0.50 0.51 Total Equity to Total Asset
0.16 -- 0.20 0.28 0.30 0.38 0.38 0.24 0.22 0.25 0.15 0.22 0.24 0.24 0.21 0.26 0.26 Total Debt to Total Asset
32.20 34.03 37.65 39.79 43.90 31.36 33.86 37.64 36.79 17.97 18.38 22.31 28.77 29.58 31.59 31.18 30.96 Gross Profit to Total Asset %
0.68 0.67 0.70 0.73 0.79 0.61 0.63 0.71 0.70 0.37 0.38 0.44 0.55 0.55 0.58 0.57 0.57 Asset Turnover
-- -- -- -- -- -- -- -- 0.09 0.71 0.77 0.31 0.33 0.25 0.61 0.20 0.28 Dividend Payout Ratio
63.13 52.82 50.79 49.50 48.68 48.47 58.26 47.45 49.12 84.27 56.45 54.78 54.81 59.09 57.64 65.75 67.34 Days Sales Outstanding
46.69 50.79 59.60 48.10 43.61 51.19 72.45 55.83 51.71 79.36 53.20 50.99 46.79 53.70 55.55 54.80 49.72 Days Accounts Payable
138 112 97.67 94.56 91.25 99.88 92.05 95.45 107 191 144 102 97.76 97.54 99.09 102 101 Days Inventory
154 114 88.86 95.96 96.32 97.16 77.86 87.07 105 196 148 106 106 103 101 113 119 Cash Conversion Cycle
2.65 3.27 3.74 3.86 4.00 3.65 3.97 3.82 3.40 1.91 2.53 3.58 3.73 3.74 3.68 3.58 3.60 Inventory Turnover
0.53 0.50 0.47 0.45 0.45 0.49 0.46 0.47 0.47 0.51 0.51 0.49 0.48 0.46 0.45 0.46 0.46 COGS to Revenue
0.20 0.15 0.13 0.12 0.11 0.13 0.12 0.12 0.14 0.27 0.20 0.14 0.13 0.12 0.12 0.13 0.13 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/A 2/7
Income Statement
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
4,556 4,685 4,973 5,420 5,774 4,481 5,444 6,615 6,858 3,894 4,048 4,038 4,202 4,472 4,914 5,163 5,236 Revenue
2,392 2,321 2,315 2,451 2,578 2,189 2,514 3,086 3,254 1,987 2,072 1,997 2,005 2,073 2,234 2,358 2,415 Cost of Goods Sold
2,164 2,364 2,658 2,969 3,196 2,292 2,930 3,529 3,604 1,907 1,976 2,041 2,197 2,399 2,680 2,805 2,821 Gross Profit
47.50 50.46 53.45 54.78 55.35 51.15 53.82 53.35 52.55 48.97 48.81 50.54 52.28 53.64 54.54 54.33 53.88 Gross Margin %
1,502 1,498 1,660 1,700 1,697 1,603 1,752 1,809 1,817 1,184 1,199 1,189 1,253 1,251 1,389 1,460 1,509 Selling, General, & Admin. Expense
599 650 655 685 704 642 612 649 668 337 358 330 329 341 387 404 406 Research & Development
-- -- -121 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Other Operating Expense
63.00 216 464 584 795 47.00 566 1,071 1,119 386 419 522 615 807 904 941 906 Operating Income
1.38 4.61 9.33 10.77 13.77 1.05 10.40 16.19 16.32 9.91 10.35 12.93 14.64 18.05 18.40 18.23 17.30 Operating Margin %
-- -- -- -- 113 29.00 20.00 14.00 9.00 7.00 9.00 7.00 11.00 22.00 38.00 36.00 29.00 Interest Income
-- -- -- -- -123 -88.00 -96.00 -86.00 -101 -107 -110 -66.00 -72.00 -79.00 -75.00 -74.00 -76.00 Interest Expense
-- -- -- -- -10.00 -59.00 -76.00 -72.00 -92.00 -100.00 -101 -59.00 -61.00 -57.00 -37.00 -38.00 -47.00 Net Interest Income
24.00 75.00 163 86.00 30.00 19.00 202 33.00 16.00 7.00 -89.00 17.00 -10.00 53.00 79.00 16.00 31.00 Other Income (Expense)
-- -10.00 -5.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Other Income (Minority Interest)
87.00 291 627 670 815 7.00 692 1,032 1,043 293 229 480 544 803 946 919 890 Pre-Tax Income
-57.00 -142 -91.00 -32.00 -122 -38.00 -8.00 -20.00 110 -68.00 3.00 -42.00 -82.00 -119 -630 152 -126 Tax Provision
65.52 48.80 14.51 4.78 14.97 543 1.16 1.94 -10.55 23.21 -1.31 8.75 15.07 14.82 66.60 -16.54 14.16 Tax Rate %
59.00 191 1,437 638 693 -31.00 684 1,012 1,153 225 232 438 462 684 316 1,071 764 Net Income (Continuing Operations)
310 136 1,870 -- -- -- -- -- -- 509 317 -37.00 -- -- -- -- -- Net Income (Discontinued
Operations)
369 327 3,307 638 693 -31.00 684 1,012 1,153 734 549 401 462 684 316 1,071 764 Net Income
8.10 6.98 66.50 11.77 12.00 -0.69 12.56 15.30 16.81 18.85 13.56 9.93 10.99 15.30 6.43 20.74 14.59 Net Margin %
0.76 0.66 7.67 1.62 1.91 -0.09 1.97 2.92 3.31 2.15 1.65 1.20 1.42 2.12 0.98 3.41 2.45 EPS (Basic)
0.75 0.65 7.50 1.57 1.87 -0.09 1.94 2.85 3.27 2.13 1.62 1.20 1.40 2.10 0.97 3.37 2.42 EPS (Diluted)
490 500 441 406 371 346 353 355 353 345 338 335 329 326 325 318 313 Shares Outstanding (Diluted
Average)
212 180 170 191 201 162 202 253 301 372 384 253 246 212 210 238 263 Depreciation, Depletion and
Amortization
275 396 634 775 1,139 257 990 1,371 1,445 772 723 799 862 1,094 1,231 1,231 1,229 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/A 3/7
Balance Sheet
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
2,315 2,226 2,262 1,826 1,405 2,479 2,649 3,527 2,351 2,675 2,218 2,003 2,289 2,678 2,247 1,382 1,226 Cash And Cash Equivalents
-- 25.00 -- -- 24.00 14.00 -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
2,315 2,251 2,262 1,826 1,429 2,493 2,649 3,527 2,351 2,675 2,218 2,003 2,289 2,678 2,247 1,382 1,226 Cash, Cash Equivalents, Marketable
Securities
788 678 692 735 770 595 869 860 923 899 626 606 631 724 776 930 966 Accounts Receivable
441 285 291 286 315 267 378 446 505 514 208 179 194 212 252 263 -- Inventories, Raw Materials &
Components
69.00 54.00 51.00 44.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Work In Process
299 273 285 313 331 285 338 452 509 552 366 362 339 363 386 416 -- Inventories, Finished Goods
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 706 Inventories, Other
809 612 627 643 646 552 716 898 1,014 1,066 574 541 533 575 638 679 706 Total Inventories
751 906 377 467 337 321 1,935 284 341 343 2,091 536 182 192 187 198 204 Other Current Assets
4,663 4,447 3,958 3,671 3,182 3,961 6,169 5,569 4,629 4,983 5,509 3,686 3,635 4,169 3,848 3,189 3,102 Total Current Assets
-- -- -- -- 206 163 142 117 109 139 96.00 86.00 135 138 68.00 102 118 Investments And Advances
96.00 84.00 75.00 83.00 91.00 97.00 137 138 142 131 58.00 53.00 53.00 56.00 55.00 57.00 -- Land And Improvements
1,460 1,327 1,023 1,160 1,147 1,210 1,268 1,271 1,475 1,330 714 705 757 886 952 1,012 -- Buildings And Improvements
886 807 863 828 1,108 1,144 1,170 1,203 1,265 1,417 597 576 596 658 653 706 -- Machinery, Furniture, Equipment
2,847 2,610 2,349 2,465 2,346 2,451 2,575 2,612 2,882 2,878 1,369 1,334 1,406 1,600 1,660 1,775 844 Gross Property, Plant and Equipment
-1,863 -1,755 -1,574 -1,664 -1,522 -1,606 -1,595 -1,606 -1,718 -1,744 -738 -730 -767 -843 -838 -925 -- Accumulated Depreciation
984 855 775 801 824 845 980 1,006 1,164 1,134 631 604 639 757 822 850 844 Property, Plant and Equipment
345 345 468 736 874 822 1,950 1,996 4,111 3,963 3,156 2,811 2,933 2,968 3,464 4,700 4,648 Intangible Assets
-- 345 385 558 646 655 1,456 1,567 3,025 3,047 2,507 2,366 2,517 2,607 2,973 3,593 4,648 Goodwill
1,152 1,104 2,168 2,346 1,921 1,821 455 369 523 467 1,423 292 452 394 339 611 789 Other Long Term Assets
7,144 6,751 7,369 7,554 7,007 7,612 9,696 9,057 10,536 10,686 10,815 7,479 7,794 8,426 8,541 9,452 9,501 Total Assets
306 323 378 323 308 307 499 472 461 432 302 279 257 305 340 354 329 Accounts Payable
-- -- -- -- 128 -- -- -- -- -- -- -- -- -- -- -- -- Total Tax Payable
514 481 509 460 1,050 837 1,224 771 836 762 581 497 441 486 543 794 585 Accounts Payable & Accrued
Expense
-- -- -- -- -- 1.00 1,501 253 250 -- -- -- -- 210 -- 616 675 Current Portion of Long-Term Debt
227 205 225 249 280 285 358 389 420 439 260 258 269 291 324 336 379 Current Deferred Revenue
227 205 225 249 280 285 358 389 420 439 260 258 269 291 324 336 379 DeferredTaxAndRevenue
1,031 1,250 804 954 -- -- -- 424 387 401 851 221 235 276 304 334 253 Other Current Liabilities
1,772 1,936 1,538 1,663 1,330 1,123 3,083 1,837 1,893 1,602 1,692 976 945 1,263 1,171 2,080 1,892 Total Current Liabilities
1,150 -- 1,500 2,087 2,125 2,904 2,190 1,932 2,112 2,699 1,663 1,655 1,904 1,801 1,799 1,791 1,787 Long-Term Debt
1,150 -- 1,500 2,087 2,125 2,904 2,190 1,932 2,112 2,699 1,663 1,655 1,904 1,801 1,799 1,791 1,787 Long-Term Debt & Capital Lease
Obligation
0.32 -- 0.41 0.65 0.83 1.16 1.14 0.51 0.46 0.51 0.31 0.40 0.45 0.42 0.39 0.51 0.51 Debt to Equity
-- -- -- -- 324 498 477 329 554 294 209 264 360 234 239 360 354 PensionAndRetirementBenefit
-- -- 182 -- -- -- -- -- -- -- -- -- -- -- -- -- -- NonCurrent Deferred Liabilities
-- -- 11.00 -- -- 8.00 8.00 8.00 3.00 3.00 3.00 3.00 3.00 4.00 4.00 -- -- Minority Interest
653 734 490 570 669 573 710 643 792 802 1,947 414 339 293 761 473 620 Other Long-Term Liabilities
3,575 2,670 3,710 4,320 4,448 5,098 6,460 4,741 5,351 5,397 5,511 3,309 3,548 3,591 3,970 4,704 4,653 Total Liabilities
5.00 5.00 5.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 3.00 3.00 3.00 3.00 Common Stock
-1,790 -1,463 1,534 2,172 2,791 2,760 3,444 4,456 5,505 6,073 6,469 5,581 6,089 -126 -336 -18.00 73.00 Retained Earnings
159 -49.00 29.00 408 -178 -185 -88.00 116 -111 91.00 -334 -391 -503 -346 -408 -514 -521 Accumulated other comprehensive
income (loss)
5,195 5,878 6,605 7,117 7,410 7,552 7,904 8,265 8,489 8,723 8,967 9,045 9,159 5,300 5,308 5,277 5,293 Additional Paid-In Capital
-- -290 -4,525 -6,469 -7,470 -7,627 -8,038 -8,535 -8,707 -9,607 -9,807 -10,074 -10,508 -- -- -- -- Treasury Stock
3,569 4,081 3,648 3,234 2,559 2,506 3,228 4,308 5,182 5,286 5,301 4,167 4,243 4,831 4,567 4,748 4,848 Total Equity
0.50 0.61 0.50 0.43 0.37 0.33 0.33 0.48 0.49 0.50 0.49 0.56 0.54 0.57 0.54 0.50 0.51 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/A 4/7
Cashflow Statement
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
369 327 3,307 638 693 -31.00 684 1,012 1,153 734 549 401 462 684 316 1,071 764 Net Income
369 327 3,307 638 693 -31.00 684 1,012 1,153 734 549 401 462 684 316 1,071 764 Net Income From Continuing
Operations
212 180 170 191 201 162 202 253 301 372 384 253 246 212 210 238 263 Depreciation, Depletion and
Amortization
35.00 47.00 8.00 22.00 -44.00 193 -166 11.00 19.00 14.00 -119 -24.00 -33.00 -81.00 -65.00 -106 -124 Change In Receivables
13.00 12.00 -55.00 -21.00 -14.00 47.00 -51.00 -208 -52.00 -100.00 -99.00 -24.00 -7.00 -61.00 -83.00 -36.00 -56.00 Change In Inventory
49.00 19.00 56.00 -13.00 24.00 -7.00 113 -35.00 -31.00 -27.00 50.00 -26.00 -15.00 2.00 40.00 29.00 30.00 Change In Payables And Accrued
Expense
61.00 264 -285 120 -179 105 -52.00 -159 -176 -89.00 -185 -315 -40.00 -200 471 -133 -390 Change In Working Capital
-53.00 -12.00 -19.00 -134 -53.00 28.00 -109 38.00 -158 -4.00 -192 70.00 3.00 102 -16.00 -255 -255 Change In DeferredTax
-- -- -- -- 82.00 71.00 66.00 72.00 74.00 85.00 96.00 54.00 58.00 60.00 70.00 72.00 75.00 Stock Based Compensation
-- -- -- -- -- -- -- -- -- -- -- 810 -- -- -- -- -- Cash Flow from Discontinued
Operations
28.00 33.00 -872 154 12.00 73.00 -73.00 44.00 34.00 54.00 79.00 46.00 35.00 31.00 15.00 28.00 11.00 Cash Flow from Others
670 899 634 969 756 408 718 1,260 1,228 1,152 731 512 793 889 1,087 1,021 749 Cash Flow from Operations
-79.00 -128 -185 -154 -154 -128 -121 -188 -194 -195 -205 -98.00 -139 -176 -177 -155 -150 Purchase Of Property, Plant,
Equipment
34.00 54.00 207 26.00 14.00 1.00 7.00 18.00 -- 2.00 14.00 12.00 -- -- 1.00 -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -172 -12.00 -1,313 -98.00 -2,257 -42.00 -38.00 -75.00 -264 -128 -516 -1,408 -248 Purchase Of Business
-- -- -- -- -- -- 205 1.00 -- -- 2.00 3.00 -- 2.00 -- -- -- Sale Of Business
-14.00 -35.00 -5.00 -- -256 -30.00 -- -- -- -25.00 -- -- -80.00 -1.00 -11.00 -23.00 -22.00 Purchase Of Investment
-- 30.00 999 -- 150 94.00 38.00 16.00 5.00 12.00 1.00 -- 1.00 -- -- -- -- Sale Of Investment
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -1.00 -- Net Intangibles Purchase And Sale
-37.00 -41.00 2,468 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-18.00 -80.00 -1,688 -328 19.00 61.00 10.00 1,545 80.00 -- -4.00 -242 244 -1.00 -2.00 -3.00 -1,164 Cash From Other Investing Activities
-114 -200 1,796 -456 -399 -14.00 -1,174 1,294 -2,366 -248 -230 -400 -238 -304 -705 -1,590 -1,335 Cash Flow from Investing
137 198 547 375 211 71.00 299 304 100.00 -- -- -- -- -- -- -- -- Issuance of Stock
-- -290 -4,235 -1,944 -1,001 -157 -411 -497 -172 -900 -200 -267 -434 -194 -422 -723 -708 Repurchase of Stock
1.00 -688 1,500 594 16.00 748 718 -1,500 148 347 99.00 -- 262 110 -210 600 56.00 Net Issuance of Debt
-- -- -- -- -- -- -- -- -104 -156 -176 -133 -150 -170 -191 -206 -210 Cash Flow for Dividends
-- -- -220 -5.00 -- -5.00 -5.00 304 91.00 155 160 -689 54.00 52.00 26.00 30.00 624 Other Financing
138 -780 -2,408 -980 -774 657 601 -1,693 -37.00 -554 -117 -1,089 -268 -202 -797 -299 -238 Cash Flow from Financing
708 -89.00 36.00 -436 -421 1,074 170 878 -1,176 324 353 -1,025 286 391 -432 -866 -832 Net Change in Cash
-79.00 -128 -185 -154 -154 -128 -121 -188 -194 -195 -205 -98.00 -139 -176 -177 -156 -151 Capital Expenditure
591 771 449 815 602 280 597 1,072 1,034 957 526 414 654 713 910 865 598 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/A 5/7
Valuation Ratios
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
22.81 33.70 3.38 16.78 8.49 -- 12.83 9.37 7.90 17.20 26.89 31.47 31.12 32.40 66.11 22.54 33.87 PE Ratio(TTM)
46.89 24.24 3.31 14.72 10.35 42.12 14.52 9.21 9.19 13.97 33.42 49.82 27.59 34.45 24.88 29.96 48.39 Price to Owner Earnings
(TTM)
2.30 2.66 2.68 3.01 2.17 2.44 2.67 2.14 1.72 2.29 2.50 3.01 3.33 4.53 4.51 4.93 5.29 Price to Book
2.55 2.90 3.08 3.90 3.30 3.63 6.74 3.98 8.32 9.14 6.17 9.25 10.78 11.76 18.68 489 128 Price to Tangible Book
13.96 14.07 21.77 12.96 9.65 21.65 14.80 8.79 8.79 13.04 25.37 30.43 21.91 31.18 23.05 27.77 43.35 Price-to-Free-Cash-Flow
Ratio
12.33 12.06 15.77 10.93 7.70 14.92 12.29 7.48 7.40 10.84 18.26 24.63 18.08 25.00 19.29 23.54 34.60 Price-to-Operating-Cash-
Flow Ratio
1.83 2.30 2.12 1.97 1.02 1.37 1.62 1.42 1.32 3.28 3.30 3.13 3.41 4.97 4.27 4.66 4.94 PS Ratio
-- -- -- -- -- -- 0.98 0.76 0.42 0.79 7.19 -- -- -- 3.69 1.39 2.40 PEG Ratio
1.55 1.84 1.82 1.85 1.08 1.46 1.77 1.19 1.30 3.11 3.14 3.02 3.27 4.75 4.10 4.73 5.09 EV-to-Revenue
24.40 21.71 15.63 12.92 5.70 25.45 9.76 5.74 6.17 15.69 17.55 15.26 15.93 19.42 16.38 19.85 21.68 EV-to-EBITDA
112 39.81 22.15 17.14 6.98 68.85 12.26 7.03 7.80 30.29 37.44 22.33 22.30 24.08 19.74 24.60 27.58 EV-to-EBIT
0.89 2.51 4.51 5.83 14.33 1.45 8.16 14.22 12.82 3.30 2.67 4.48 4.48 4.15 5.07 4.07 3.63 Return on Capital %
0.07 1.41 1.04 3.80 9.34 28.62 19.27 19.64 26.80 26.20 13.66 -8.56 -7.83 1.91 21.12 19.03 18.33 Forward Rate of Return
-- -- -- -- -- 23.35 33.26 26.65 15.71 15.00 15.69 14.75 23.11 34.96 34.80 33.66 35.83 Shiller PE Ratio
-- -- -- -- -- -- -- -- 1.17 1.27 1.34 1.06 1.06 0.78 0.92 0.87 0.83 Dividend Yield %
Valuation and Quality
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
8,218 10,850 9,788 9,750 5,555 6,121 8,612 9,199 8,906 12,088 13,243 12,536 14,117 21,906 20,603 23,407 25,411 Market Cap
7,053 8,599 9,037 10,011 6,251 6,541 9,662 7,865 8,920 12,115 12,691 12,191 13,735 21,243 20,159 24,432 26,647 Enterprise Value
16.88 21.57 23.99 26.35 15.87 17.69 24.89 26.51 25.74 36.30 39.53 37.76 43.57 68.03 64.79 75.75 81.97 Month End Stock Price
-2.59 -0.83 -3.58 -6.74 -8.63 -7.55 -11.04 -3.52 -8.68 -8.18 -9.84 -3.94 -3.90 -2.85 -5.43 -10.75 -10.95 Net Cash (per share)
2.23 3.53 0.58 -1.75 -3.62 -3.31 -0.86 2.36 -2.10 -1.25 -0.01 1.13 0.26 1.78 -0.40 -4.90 -4.96 Net Current Asset Value
(per share)
-0.54 0.79 -1.54 -4.38 -6.05 -5.46 -8.12 -0.37 -5.21 -4.56 -7.58 -1.76 -1.61 -0.27 -2.60 -7.39 -7.51 Net-Net Working Capital (per
share)
5.94 8.89 11.81 12.63 18.34 22.07 29.77 35.79 42.62 34.03 33.51 32.03 32.78 32.48 31.91 40.43 39.81 Projected FCF (per share)
-- -- -- -- -- 21.70 24.77 31.50 33.11 19.17 21.59 22.64 23.96 25.79 39.35 55.62 58.00 Median PS (per share)
-- -- -- -- -- -2.50 25.39 35.04 60.80 45.79 5.50 -- -- -- 17.58 54.33 38.36 Peter Lynch Fair Value (per
share)
4.23 7.97 23.91 15.44 14.23 -- 12.70 20.67 15.09 7.62 9.97 10.97 11.29 16.53 8.70 3.43 5.90 Graham Number (per share)
2.01 4.34 10.82 20.50 17.91 18.29 20.09 31.15 31.30 31.12 30.18 28.58 25.13 22.41 20.92 24.05 24.18 Earnings Power Value
(EPV)
2.19 3.42 3.22 3.09 2.88 2.31 2.51 3.49 3.05 3.01 3.18 4.53 4.70 4.93 4.40 4.02 4.33 Altman Z-Score
7.00 5.00 7.00 5.00 9.00 4.00 7.00 7.00 6.00 5.00 6.00 6.00 8.00 8.00 7.00 6.00 5.00 Piotroski F-Score
-2.78 -2.97 -1.36 -2.65 -2.47 -3.01 -2.36 -2.50 -2.16 -2.44 -2.74 -2.62 -2.64 -2.50 -2.83 -2.25 -2.35 Beneish M-Score
0.38 0.26 0.43 0.47 0.43 0.42 0.56 0.31 0.57 0.50 0.44 0.35 0.52 0.54 0.49 0.68 0.64 Scaled Net Operating
Assets
-2.62 -5.51 11.90 1.65 4.80 -5.58 11.76 -17.03 21.74 -1.59 0.44 3.86 -1.19 1.17 -0.77 17.35 14.21 Sloan Ratio (%)
2.63 2.30 2.57 2.21 2.39 3.53 2.00 3.03 2.45 3.11 3.26 3.78 3.85 3.30 3.29 1.53 1.64 Current Ratio
2.17 1.98 2.17 1.82 1.91 3.04 1.77 2.54 1.91 2.45 2.92 3.22 3.28 2.85 2.74 1.21 1.27 Quick Ratio
25.35 22.93 26.38 28.89 27.18 20.60 26.62 37.60 32.79 37.89 43.57 43.55 48.44 68.03 74.82 82.00 90.64 Highest Stock Price
13.56 13.75 18.25 21.95 13.53 8.90 17.90 21.02 23.55 25.56 35.79 33.37 34.80 43.21 61.13 62.61 65.35 Lowest Stock Price
-2.25 -3.32 18.89 9.31 5.41 1.14 -- -0.29 0.29 3.76 -0.60 0.90 2.41 0.62 1.24 2.83 1.57 Shares Buyback Ratio (%)
-1.57 0.77 20.35 18.38 16.58 -16.78 19.08 20.83 4.26 -41.90 6.10 0.65 5.96 7.41 10.22 7.38 7.69 YoY Rev. per Sh. Growth
(%)
117 -13.33 1,054 -79.07 19.11 -105 2,256 46.91 14.74 -34.86 -23.94 -25.93 16.67 50.00 -53.81 247 -31.64 YoY EPS Growth (%)
174 41.18 81.57 32.75 60.82 -75.80 278 37.68 5.98 -45.32 -4.42 11.50 9.85 28.09 12.87 2.19 1.09 YoY EBITDA Growth (%)
-- -- -- -- -- 52.68 13.09 12.38 18.65 21.70 7.64 -14.85 -12.99 -1.16 17.94 16.17 14.10 EBITDA 5-Y Growth (%)
483 494 431 394 363 346 347 347 348 341 333 333 326 322 321 314 310 Shares Outstanding (Basic
Average)
487 503 408 370 350 346 346 347 346 333 335 332 324 322 318 309 310 Shares Outstanding (EOP)
2.17 3.06 2.74 1.56 1.33 1.27 1.44 1.61 1.79 1.65 0.87 1.21 1.42 1.63 1.36 1.24 1.26 Beta
12/21/04 01/17/06 12/22/06 12/21/07 12/19/08 12/21/09 12/20/10 12/16/11 12/20/12 12/19/13 12/22/14 12/21/15 12/20/16 12/21/17 12/20/18 11/25/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/A 6/7
01/17/06 12/22/06 12/22/06 12/19/08 12/21/09 12/20/10 12/20/12 12/19/13 12/22/14 12/21/15 12/20/16 12/21/17 12/20/18 12/19/19 12/19/19 12/19/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/A 7/7
Citizens Financial Group Inc (NYSE:CFG) 03/02/2020 4:10PM EST GuruFocus
Price: $ 33.32 +1.63(+5.14%) Market Cap: $ 14.24 B Enterprise Value: $5.56 B Stock PDF
Financial Strength : 2/10 Profitability & Growth : 4/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 8.73
Cash to Debt 0.26 Net-margin (%) 29.88
Forward P/E N/A
Equity to Asset 0.13 ROE (%) 7.92
F-Score: PE(NRI) 8.73
ROA (%) 1.10
9999 P/B 0.69
M-Score: Revenue Growth (3Y)(%) 12.60
-2.39 P/S 2.51
EPS Growth (3Y)(%) 24.60
PFCF 11.20
POCF 8.78
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Citizens Financial Group is a retail bank holding company operating primarily in the New England, Mid-Atlantic, and
Midwest regions of the United States. The bank operates through two segments: consumer and commercial banking.
Good Signs 2016 1,143 1,192 1,278 1,265 4,878 Citizens' strategy emphasizes differentiation through customer service. Net interest income is the largest source of the
2017 1,293 1,300 1,344 1,366 5,303 bank's net revenue. Most net interest income is derived from commercial loans, securities, home equity lines of credit,
Dividend Yield %: Close to 2018 1,363 1,403 1,457 1,458
automobile loans, and residential mortgages. Some of CFG's higher-yielding products include credit cards, home
5,681 equity loans, and other retail loans.... (Read More)
10-year high 2019 1,478 1,510 1,510 1,495 5,993 Competitors: SHSE:601169 , NYSE:BAP, SHSE:600015 , MEX:GFNORTE O, LIM:CREDITC1 , XMAD:CABK,
PE Ratio: Close to 10-year 2020 XKRX:055550, SAU:1090, TPE:2881, XTER:DBK, OSTO:SWED A, JSE:SBK, XKLS:1295, SHSE:601229,
XKRX:105560, WBO:EBS, KUW:KFH, ADX:ADCB, NYSE:KEY, NYSE:RF
low Quarterly Earnings per Share
PB Ratio: Close to 3-year low Insider Trades
Mar Jun Sep Dec Full Year
PS Ratio: Close to 10-year 2016 0.41 0.46 0.56 0.55 1.98
low 2017 0.61 0.63 0.68 1.35 3.27
2018 0.78 0.88 0.91 0.96 3.53
2019 0.92 0.95 0.97 0.98 3.82
DCF 2020
GuruFocus does not Quarterly Dividends Per Share
calculate intrinsic value: DCF
(Earnings Based) for Mar Jun Sep Dec Full Year
companies with one star 2016 0.10 0.12 0.12 0.12 0.46
predictability or not rated. But 2017 0.14 0.14 0.18 0.18 0.64
you can go to each stock's 2018 0.22 0.22 0.27 0.27 0.98
DCF page to calculate 2019 0.32 0.32 0.36 0.36 1.36
yourself. 2020
Growth Rate
Reverse DCF Annual Rates(per share) 10-Y 5-Y 12-M
GuruFocus does not Revenue Growth (%) 0.00 10.90 12.30
calculate reverse DCF growth
EBITDA Growth (%) 0.00 0.00 0.00
rate for companies with one
star predictability or not rated. Free Cash Flow Growth (%) 0.00 11.00 10.60
But you can go to each Book Value Growth (%) 0.00 6.00 11.10
stock's DCF page to calculate EPS Growth (%) 0.00 23.80 8.20
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CFG 1/5
Per Share Data
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Revenue per Share
-- -- -- -- -- -- -- 8.38 8.13 7.73 8.17 8.27 9.31 10.53 11.83 13.28 13.29
-- -- -- -- -- -- -- 0.90 1.15 -6.12 1.55 1.55 1.97 3.25 3.52 3.81 3.82 Earnings per Share (diluted)
-- -- -- -- -- -- -- 0.90 1.15 -6.12 1.55 1.55 1.97 3.25 3.52 3.81 3.82 eps without NRI
-- -- -- -- -- -- -- -- -- -- -- -- -- 2.13 2.22 3.66 3.66 Owner Earnings per Share (TTM)
-- -- -- -- -- -- -- 3.77 2.40 4.07 1.94 1.73 2.27 2.87 2.67 2.95 2.98 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- 0.10 0.40 0.46 0.64 0.98 1.36 1.36 Dividends per Share
-- -- -- -- -- -- -- -- 43.09 34.28 35.30 36.76 38.09 40.80 42.87 47.63 47.63 Book Value per Share
-- -- -- -- -- -- -- -- 22.89 22.00 22.70 23.73 24.66 26.76 28.01 31.37 31.37 Tangible Book per Share
-- -- -- -- -- -- -- -- 1.24 2.51 8.50 18.73 24.98 23.97 34.17 32.43 32.43 Total Debt per Share
-- -- -- -- -- -- -- -- -- -- 24.86 26.19 35.63 41.98 29.73 40.61 33.32 Month End Stock Price
Ratios
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 2.66 -15.82 4.50 4.28 5.23 8.19 8.24 7.99 7.92 Return on Equity %
-- -- -- -- -- -- -- -- 0.51 -2.75 0.68 0.62 0.73 1.09 1.10 1.10 1.10 Return on Assets %
-- -- -- -- -- -- -- -- -- -- -- -- -- 8.50 10.44 10.55 9.47 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- 89.19 42.21 12.01 6.22 4.48 6.08 8.86 10.51 11.92 Effective Interest Rate on Debt %
-- -- -- -- -- -- -- 10.79 14.12 -79.12 18.97 18.86 21.42 31.15 30.29 29.88 29.88 Net Margin %
-- -- -- -- -- -- -- 45.00 29.48 52.68 23.67 20.88 24.33 27.21 22.57 22.21 22.21 FCF Margin %
-- -- -- -- -- -- -- 9,999 0.03 0.07 0.24 0.50 0.65 0.58 0.77 0.63 0.63 Debt to Equity
-- -- -- -- -- -- -- -- 0.19 0.16 0.15 0.14 0.13 0.13 0.13 0.13 0.13 Total Equity to Total Asset
-- -- -- -- -- -- -- -- 0.01 0.01 0.04 0.07 0.09 0.08 0.10 0.09 0.09 Total Debt to Total Asset
-- -- -- -- -- -- -- -- 3.59 3.48 3.58 3.29 3.39 3.51 3.63 3.67 3.68 Gross Profit to Total Asset %
-- -- -- -- -- -- -- -- 0.04 0.04 0.04 0.03 0.03 0.04 0.04 0.04 0.04 Asset Turnover
-- -- -- -- -- -- -- -- -- -- 0.07 0.26 0.23 0.20 0.28 0.36 0.36 Dividend Payout Ratio
Income Statement
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- 4,691 4,555 4,330 4,559 4,453 4,878 5,303 5,681 5,993 5,993 Revenue
-- -- -- -- -- -- -- 4,691 4,555 4,330 4,559 4,453 4,878 5,303 5,681 5,993 5,993 Gross Profit
-- -- -- -- -- -- -- 1,935 2,181 1,924 1,948 1,895 1,994 2,008 2,113 2,200 2,200 Selling, General, & Admin. Expense
-- -- -- -- -- -- -- 2,756 2,374 2,406 2,611 2,558 2,884 3,295 3,568 3,793 3,793 Other Operating Expense
-- -- -- -- -- -- -- 4,204 3,846 3,501 3,664 3,854 4,266 4,920 5,758 6,189 6,189 Interest Income
-- -- -- -- -- -- -- -884 -619 -443 -363 -452 -508 -747 -1,226 -1,575 -1,575 Interest Expense
-- -- -- -- -- -- -- 3,320 3,227 3,058 3,301 3,402 3,758 4,173 4,532 4,614 4,614 Net Interest Income
-- -- -- -- -- -- -- 778 1,024 -3,468 1,268 1,263 1,534 1,912 2,183 2,251 2,251 Other Income (Expense)
-- -- -- -- -- -- -- 778 1,024 -3,468 1,268 1,263 1,534 1,912 2,183 2,251 2,251 Pre-Tax Income
-- -- -- -- -- -- -- -272 -381 42.00 -403 -423 -489 -260 -462 -460 -460 Tax Provision
-- -- -- -- -- -- -- 34.96 37.21 1.21 31.78 33.49 31.88 13.60 21.16 20.44 20.44 Tax Rate %
-- -- -- -- -- -- -- 506 643 -3,426 865 840 1,045 1,652 1,721 1,791 1,791 Net Income (Continuing Operations)
-- -- -- -- -- -- -- 506 643 -3,426 865 840 1,045 1,652 1,721 1,791 1,791 Net Income
-- -- -- -- -- -- -- 10.79 14.12 -79.12 18.97 18.86 21.42 31.15 30.29 29.88 29.88 Net Margin %
-- -- -- -- -- -- -- -- -- -- -- 7.00 14.00 14.00 29.00 73.00 73.00 Preferred dividends
-- -- -- -- -- -- -- 0.90 1.15 -6.12 1.55 1.55 1.97 3.26 3.54 3.82 3.82 EPS (Basic)
-- -- -- -- -- -- -- 0.90 1.15 -6.12 1.55 1.55 1.97 3.25 3.52 3.81 3.82 EPS (Diluted)
-- -- -- -- -- -- -- 560 560 560 558 538 524 504 480 451 436 Shares Outstanding (Diluted
Average)
-- -- -- -- -- -- -- 434 467 404 386 471 515 487 489 633 633 Depreciation, Depletion and
Amortization
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CFG 2/5
Balance Sheet
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 3,189 2,990 3,646 3,441 4,143 3,224 4,222 3,683 3,683 Cash And Cash Equivalents
-- -- -- -- -- -- -- -- 18,356 15,995 18,656 17,884 19,501 20,157 19,895 20,613 20,613 Marketable Securities
-- -- -- -- -- -- -- -- 21,545 18,985 22,302 21,325 23,644 23,381 24,117 24,296 24,296 Cash, Cash Equivalents,
Marketable Securities
-- -- -- -- -- -- -- -- 21,549 19,431 22,302 21,325 23,644 23,387 24,117 24,296 24,296 Total Current Assets
-- -- -- -- -- -- -- -- 19,417 20,315 23,837 23,212 24,668 25,018 25,075 24,669 24,669 Investments And Advances
-- -- -- -- -- -- -- -- 48.00 33.00 26.00 25.00 47.00 47.00 112 102 102 Land And Improvements
-- -- -- -- -- -- -- -- 669 636 607 634 684 719 852 848 848 Buildings And Improvements
-- -- -- -- -- -- -- -- 1,671 1,598 1,613 1,667 1,714 1,465 1,019 535 535 Machinery, Furniture, Equipment
-- -- -- -- -- -- -- -- -- -- -- -- -- 359 292 368 368 Construction In Progress
-- -- -- -- -- -- -- -- 2,388 2,267 2,246 2,326 2,445 2,590 2,275 1,853 1,853 Gross Property, Plant and
Equipment
-- -- -- -- -- -- -- -- -1,745 -1,675 -1,651 -1,731 -1,844 -1,905 -1,484 -1,092 -1,092 Accumulated Depreciation
-- -- -- -- -- -- -- -- 643 592 595 595 601 685 791 761 761 Property, Plant and Equipment
-- -- -- -- -- -- -- -- 11,311 6,876 6,876 6,876 6,876 6,887 6,923 7,044 7,044 Intangible Assets
-- -- -- -- -- -- -- -- 11,311 6,876 6,876 6,876 6,876 6,887 6,923 7,044 7,044 Goodwill
-- -- -- -- -- -- -- -- 74,133 74,940 79,247 86,200 93,731 96,359 103,612 108,963 108,963 Other Long Term Assets
-- -- -- -- -- -- -- -- 127,053 122,154 132,857 138,208 149,520 152,336 160,518 165,733 165,733 Total Assets
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Accounts Payable
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 1,492 -- -- Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 1,492 -- -- Total Current Liabilities
-- -- -- -- -- -- -- -- 694 1,405 4,642 9,886 12,790 11,765 14,433 14,047 14,047 Long-Term Debt
-- -- -- -- -- -- -- -- 694 1,405 4,642 9,886 12,790 11,765 14,433 14,047 14,047 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- -- -- 9,999 0.03 0.07 0.24 0.50 0.65 0.58 0.77 0.63 0.63 Debt to Equity
-- -- -- -- -- -- -- -- 446 199 493 730 714 571 573 866 866 NonCurrent Deferred Liabilities
-- -- -- -- -- -- -- -- 101,784 101,354 108,454 107,946 116,269 119,730 123,203 128,619 128,619 Other Long-Term Liabilities
-- -- -- -- -- -- -- -- 102,924 102,958 113,589 118,562 129,773 132,066 139,701 143,532 143,532 Total Liabilities
-- -- -- -- -- -- -- -- 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 Common Stock
-- -- -- -- -- -- -- -- -- -- -- 247 247 247 840 1,570 1,570 Preferred Stock
-- -- -- -- -- -- -- -- 5,846 1,235 1,294 1,913 2,703 4,164 5,385 6,498 6,498 Retained Earnings
-- -- -- -- -- -- -- -- -312 -648 -372 -387 -668 -820 -1,096 -411 -411 Accumulated other
comprehensive income (loss)
-- -- -- -- -- -- -- -- 18,589 18,603 18,676 18,725 18,722 18,781 18,815 18,891 18,891 Additional Paid-In Capital
-- -- -- -- -- -- -- -- -- -- -336 -858 -1,263 -2,108 -3,133 -4,353 -4,353 Treasury Stock
-- -- -- -- -- -- -- -- 24,129 19,196 19,268 19,646 19,747 20,270 20,817 22,201 22,201 Total Equity
-- -- -- -- -- -- -- -- 0.19 0.16 0.15 0.14 0.13 0.13 0.13 0.13 0.13 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CFG 3/5
Cashflow Statement
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- 506 643 -3,426 865 840 1,045 1,652 1,721 1,791 1,791 Net Income
-- -- -- -- -- -- -- 506 643 -3,426 865 840 1,045 1,652 1,721 1,791 1,791 Net Income From Continuing
Operations
-- -- -- -- -- -- -- 434 467 404 386 471 515 487 489 633 633 Depreciation, Depletion and
Amortization
-- -- -- -- -- -- -- 225 -93.00 429 -56.00 -628 -333 -621 -914 -525 -525 Change In Working Capital
-- -- -- -- -- -- -- 252 306 -53.00 141 249 153 -136 97.00 64.00 64.00 Change In DeferredTax
-- -- -- -- -- -- -- -- 29.00 27.00 53.00 24.00 23.00 48.00 41.00 41.00 41.00 Stock Based Compensation
-- -- -- -- -- -- -- 1,020 350 880 6.00 282 91.00 455 336 -308 -308 Cash Flow from Others
-- -- -- -- -- -- -- 2,479 1,714 2,649 1,390 1,229 1,490 1,883 1,767 1,697 1,697 Cash Flow from Operations
-- -- -- -- -- -- -- -368 -178 -160 -141 -121 -138 -253 -232 -126 -126 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -- -- 5.00 6.00 25.00 3.00 15.00 3.00 -- -- 31.00 31.00 Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -533 -129 -129 Purchase Of Business
-- -- -- -- -- -- -- -13,782 -5,533 -11,224 -9,573 -7,963 -8,599 -6,291 -5,186 -9,650 -9,650 Purchase Of Investment
-- -- -- -- -- -- -- 11,809 9,595 8,502 6,832 8,384 6,778 6,178 5,570 10,749 10,749 Sale Of Investment
-- -- -- -- -- -- -- -- -193 -208 -170 -178 -165 -187
-253 -240 -240 Net Intangibles Purchase And Sale
-- -- -- -- -- -- -- 302 -2,778 612 -7,225 -6,042 -9,205 -3,431 -6,443 -4,510 -4,510 Cash From Other Investing Activities
-- -- -- -- -- -- -- -2,034 919 -2,453 -10,274 -5,905 -11,326 -3,984 -7,077 -3,875 -3,875 Cash Flow from Investing
-- -- -- -- -- -- -- -- -- -- -334 -500 -430 -820 -1,025 -1,220 -1,220 Repurchase of Stock
-- -- -- -- -- -- -- -- -- -- -- 247 -- -- 593 730 730 Net Issuance of Preferred Stock
-- -- -- -- -- -- -- -1,442 -5,147 2,461 7,245 1,601 3,529 -2,347 2,455 -2,164 -2,164 Net Issuance of Debt
-- -- -- -- -- -- -- -- -150 -1,185 -806 -221 -255 -336 -485 -682 -682 Cash Flow for Dividends
-- -- -- -- -- -- -- -227 2,033 -1,778 3,298 3,358 7,611 4,932 4,814 4,826 4,826 Other Financing
-- -- -- -- -- -- -- -1,669 -3,264 -502 9,403 4,485 10,455 1,429 6,352 1,490 1,490 Cash Flow from Financing
-- -- -- -- -- -- -- -1,224 -631 -306 519 -191 619 -672 1,042 -688 -688 Net Change in Cash
-- -- -- -- -- -- -- -368 -371 -368 -311 -299 -303 -440 -485 -366 -366 Capital Expenditure
-- -- -- -- -- -- -- 2,111 1,343 2,281 1,079 930 1,187 1,443 1,282 1,331 1,331 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CFG 4/5
Valuation Ratios
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- -- 15.98 16.90 17.99 12.84 8.42 10.63 8.73 PE Ratio(TTM)
-- -- -- -- -- -- -- -- -- -- -- -- -- 19.68 13.37 11.10 9.11 Price to Owner Earnings (TTM)
-- -- -- -- -- -- -- -- -- -- 0.70 0.71 0.94 1.03 0.69 0.85 0.69 Price to Book
-- -- -- -- -- -- -- -- -- -- 1.10 1.10 1.44 1.57 1.06 1.29 1.06 Price to Tangible Book
-- -- -- -- -- -- -- -- -- -- 12.90 15.08 15.76 14.67 11.22 13.64 11.20 Price-to-Free-Cash-Flow Ratio
-- -- -- -- -- -- -- -- -- -- 10.00 11.42 12.53 11.22 8.12 10.70 8.78 Price-to-Operating-Cash-Flow Ratio
-- -- -- -- -- -- -- -- -- -- 3.04 3.16 3.82 3.98 2.51 3.06 2.51 PS Ratio
-- -- -- -- -- -- -- -- -- -- -0.90 0.59 1.56 1.74 1.14 1.49 0.92 EV-to-Revenue
-- -- -- -- -- -- -- -- -- -- 12.59 13.35 14.75 12.94 -- -- -- EV-to-EBITDA
-- -- -- -- -- -- -- -- -- -- 0.40 1.53 1.29 1.52 3.30 3.35 4.28 Dividend Yield %
Valuation and Quality
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- -- 13,571 13,822 18,241 20,604 13,854 17,589 14,242 Market Cap
-- -- -- -- -- -- -- -- -- -- -4,089 2,630 7,634 9,235 6,502 8,910 5,563 Enterprise Value
-- -- -- -- -- -- -- -- -- -- 24.86 26.19 35.63 41.98 29.73 40.61 33.32 Month End Stock Price
-- -- -- -- -- -- -- -- -145 -150 -167 -184 -207 -221 -248 -275 -275 Net Cash (per share)
-- -- -- -- -- -- -- -- -145 -150 -167 -185 -208 -222 -250 -279 -279 Net-Net Working Capital (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 67.34 73.12 73.12 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- 34.36 43.15 46.70 46.70 Median PS (per share)
-- -- -- -- -- -- -- -- 24.34 -- 28.14 28.77 33.06 44.24 47.10 51.86 51.93 Graham Number (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- 17.52 10.65 15.74 15.74 Earnings Power Value (EPV)
-- -- -- -- -- -- -- 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-- -- -- -- -- -- -- -- -- -- -3.11 -2.86 -2.47 -2.35 -2.50 -2.39 -2.39 Beneish M-Score
-- -- -- -- -- -- -- -- -- 0.14 0.17 0.20 0.21 0.19 0.21 0.20 0.20 Scaled Net Operating Assets
-- -- -- -- -- -- -- -- -1.57 -2.97 7.34 3.99 7.28 2.46 4.38 2.39 2.39 Sloan Ratio (%)
-- -- -- -- -- -- -- -- -- -- 25.51 28.32 36.46 42.63 47.87 40.75 41.29 Highest Stock Price
-- -- -- -- -- -- -- -- -- -- -- 22.63 18.14 32.08 27.94 29.73 30.91 Lowest Stock Price
-- -- -- -- -- -- -- -- -- -- 2.52 3.32 3.00 4.13 5.05 7.06 7.06 Shares Buyback Ratio (%)
-- -- -- -- -- -- -- -- -2.90 -4.94 5.72 1.22 12.52 13.08 12.32 12.32 12.31 YoY Rev. per Sh. Growth (%)
-- -- -- -- -- -- -- -- 27.21 -632 125 -- 27.10 64.97 8.31 8.24 8.22 YoY EPS Growth (%)
-- -- -- -- -- -- -- 560 560 560 557 536 522 502 479 450 435 Shares Outstanding (Basic Average)
-- -- -- -- -- -- -- 560 560 560 546 528 512 491 466 433 427 Shares Outstanding (EOP)
-- -- -- -- -- -- -- -- -- -- -- -- -- 1.38 1.79 1.62 1.60 Beta
-- -- -- -- -- -- -- 09/25/14 03/03/15 09/25/14 03/03/15 02/26/16 02/24/17 02/22/18 02/21/19 02/24/20 Filing Date
-- -- -- -- -- -- -- 09/25/14 03/03/15 02/26/16 02/24/17 02/22/18 02/21/19 02/24/20 02/24/20 02/24/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CFG 5/5
Goldman Sachs Group Inc (NYSE:GS) 03/02/2020 4:10PM EST GuruFocus
Price: $ 209.47 +8.70(+4.33%) Market Cap: $ 72.41 B Enterprise Value: $227.09 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 9.97
Cash to Debt 0.48 Net-margin (%) 25.43
Forward P/E N/A
Equity to Asset 0.09 ROE (%) 8.70
F-Score: PE(NRI) 9.97
ROA (%) 0.88
9999 P/B 0.94
M-Score: Revenue Growth (3Y)(%) 11.30
-2.49 P/S 2.36
EPS Growth (3Y)(%) 8.90
PFCF 4.54
POCF 3.05
Shiller P/E 13.22
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Goldman Sachs is a global investment banking firm whose activities are organized into investment banking,
institutional client services, investing and lending, and investment management segments. Approximately 60% of the
2016 5,647 7,307 7,555 7,458 27,967 company's net revenue is generated in the Americas, 15% in Asia, and 25% in Europe, the Middle East, and Africa.
2017 7,334 7,146 7,615 7,759 29,854 In 2008, Goldman reorganized itself as a financial holding company regulated by the Federal Reserve System....
Good Signs 2018 9,236 8,824 8,106 7,250 33,416
(Read More)
Competitors: NYSE:MS, NYSE:SCHW, SHSE:600030 , ASX:MQG, SHSE:601066 , NAS:AMTD, SHSE:601688 ,
Dividend Yield %: Close to 2019 8,045 8,638 7,470 9,141 33,294 NAS:IBKR, NAS:XP, SHSE:601211, SHSE:600837, BSP:BPAC3, SHSE:600999, SZSE:000166, TSE:8604,
10-year high 2020 SZSE:000776, SZSE:002736, NYSE:RJF, NAS:MKTX, HKSE:06881
PB Ratio: Close to 1-year low Quarterly Earnings per Share Insider Trades
Mar Jun Sep Dec Full Year
DCF 2016 2.68 3.72 4.88 5.08 16.36
2017 5.15 3.95 5.02 -5.51 8.61
GuruFocus does not 2018 6.95 5.98 6.28 6.04 25.25
calculate intrinsic value: DCF 2019 5.71 5.81 4.79 4.69 21.00
(Earnings Based) for 2020
companies with one star
predictability or not rated. But Quarterly Dividends Per Share
you can go to each stock's Mar Jun Sep Dec Full Year
DCF page to calculate 2016 0.65 0.65 0.65 0.65 2.60
yourself. 2017 0.65 0.75 0.75 0.75 2.90
2018 0.75 0.80 0.80 0.80 3.15
Reverse DCF 2019 0.80 0.85 1.25 1.25 4.15
2020
GuruFocus does not
calculate reverse DCF growth Growth Rate
rate for companies with one Annual Rates(per share) 10-Y 5-Y 12-M
star predictability or not rated.
But you can go to each Revenue Growth (%) 2.80 6.40 3.50
stock's DCF page to calculate EBITDA Growth (%) 0.00 0.00 0.00
yourself. Free Cash Flow Growth (%) 0.00 0.00 86.80
Book Value Growth (%) 5.80 5.40 4.00
EPS Growth (%) 4.20 7.90 -16.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GS 1/7
Per Share Data
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
41.04 50.46 78.90 99.71 48.71 82.00 63.01 47.31 61.92 63.78 67.68 68.13 64.28 72.98 85.64 88.67 88.73 Revenue per Share
8.92 11.21 19.69 24.73 4.47 22.13 13.18 4.51 14.13 15.46 17.07 12.14 16.29 9.01 25.27 21.03 21.00 Earnings per Share (diluted)
8.92 11.21 19.69 24.73 4.47 22.13 13.18 4.51 14.13 15.46 17.07 12.14 16.29 9.01 25.27 21.03 21.00 eps without NRI
-3.17 -89.64 -74.47 -182 1.23 77.89 -20.92 33.08 22.06 3.33 -23.95 12.95 5.58 -75.42 36.06 46.19 46.19 Owner Earnings per Share (TTM)
-67.03 -27.66 -103 -152 -0.29 85.89 -11.25 38.28 23.09 7.68 -18.20 16.68 8.34 -57.87 21.99 41.08 46.16 Free Cashflow per Share
1.00 1.00 1.30 1.40 1.40 1.52 1.40 1.40 1.77 2.05 2.25 2.55 2.60 2.90 3.15 4.15 4.15 Dividends per Share
52.14 60.05 79.21 102 104 124 139 139 149 160 171 180 193 188 215 223 223 Book Value per Share
52.14 60.05 79.21 88.58 92.78 114 128 127 138 150 161 170 182 177 204 210 210 Tangible Book per Share
282 355 414 603 478 432 514 538 527 517 547 580 638 772 778 782 782 Total Debt per Share
105 129 195 227 78.99 169 168 90.43 128 177 194 180 239 255 167 230 209 Month End Stock Price
Ratios
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
19.49 21.13 29.47 29.03 3.81 18.05 10.42 3.40 9.98 10.02 10.02 6.57 8.16 4.36 11.44 8.75 8.70 Return on Equity %
0.97 0.91 1.23 1.18 0.23 1.54 0.95 0.48 0.80 0.87 0.96 0.71 0.86 0.48 1.13 0.88 0.88 Return on Assets %
7.39 9.66 11.98 13.58 9.81 4.75 4.32 3.08 3.75 5.12 4.48 3.76 4.40 4.67 4.54 5.98 5.88 Weighted Average Cost Of Capital (WACC) %
7.49 12.48 19.44 20.66 13.73 2.93 2.82 3.06 2.96 2.80 2.38 2.25 2.88 3.77 5.53 6.17 6.06 Effective Interest Rate on Debt %
21.73 22.29 25.32 25.22 10.45 29.63 22.65 16.86 23.39 25.23 26.47 19.47 26.45 14.36 31.30 25.43 25.43 Net Margin %
-163 -54.81 -131 -153 -0.60 105 -17.85 80.91 37.30 12.04 -26.88 24.48 12.98 -79.30 25.68 46.33 46.33 FCF Margin %
5.41 5.54 4.77 5.51 3.43 3.15 3.37 3.71 3.24 2.94 2.84 2.81 2.88 3.52 3.17 3.07 3.07 Debt to Equity
0.05 0.04 0.04 0.04 0.07 0.08 0.09 0.08 0.08 0.09 0.10 0.10 0.10 0.09 0.10 0.09 0.09 Total Equity to Total Asset
0.26 0.22 0.20 0.21 0.25 0.26 0.29 0.28 0.26 0.25 0.28 0.28 0.29 0.32 0.31 0.28 0.28 Total Debt to Total Asset
4.48 4.08 4.88 4.70 2.22 5.21 4.19 2.87 3.43 3.44 3.62 3.64 3.25 3.36 3.62 3.46 3.47 Gross Profit to Total Asset %
0.05 0.04 0.05 0.05 0.02 0.05 0.04 0.03 0.03 0.03 0.04 0.04 0.03 0.03 0.04 0.04 0.03 Asset Turnover
0.11 0.09 0.07 0.06 0.31 0.07 0.11 0.31 0.13 0.13 0.13 0.21 0.16 0.32 0.13 0.20 0.20 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GS 2/7
Income Statement
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
20,951 25,238 37,665 45,987 22,222 45,173 36,880 26,348 31,955 31,865 32,027 31,244 27,967 29,854 33,416 33,294 33,294 Revenue
20,951 25,238 37,665 45,987 22,222 45,173 36,880 26,348 31,955 31,865 32,027 31,244 27,967 29,854 33,416 33,294 33,294 Gross Profit
10,026 12,066 16,949 20,791 15,176 17,244 17,062 14,220 14,833 14,106 14,019 14,041 12,714 13,138 14,091 14,259 14,259 Selling, General, & Admin. Expense
10,925 13,172 20,716 25,196 7,046 27,929 19,818 12,128 17,122 17,759 18,008 17,203 15,253 16,716 19,325 19,035 19,035 Other Operating Expense
11,914 21,250 35,186 45,968 35,633 13,907 12,309 13,174 11,381 10,060 9,604 8,452 9,691 13,113 19,679 21,738 21,738 Interest Income
-8,888 -18,153 -31,688 -41,981 -31,357 -6,500 -6,806 -7,982 -7,501 -6,668 -5,557 -5,388 -7,104 -10,181 -15,912 -17,376 -17,376 Interest Expense
3,026 3,097 3,498 3,987 4,276 7,407 5,503 5,192 3,880 3,392 4,047 3,064 2,587 2,932 3,767 4,362 4,362 Net Interest Income
6,676 8,273 14,560 17,604 2,336 19,829 12,892 6,169 11,207 11,737 12,357 8,778 10,304 11,132 12,481 10,583 10,583 Other Income (Expense)
6,676 8,273 14,560 17,604 2,336 19,829 12,892 8,778 10,304 11,132 12,481 10,583 10,583 Pre-Tax Income
6,169 11,207 11,737 12,357
-2,123 -2,647 -5,023 -6,005 -14.00 -6,444 -4,538 -1,727 -3,732 -3,697 -3,880 -2,695 -2,906 -6,846 -2,022 -2,117 -2,117 Tax Provision
31.80 32.00 34.50 34.11 0.60 32.50 35.20 27.99 33.30 31.50 31.40 30.70 28.20 61.50 16.20 20.00 20.00 Tax Rate %
4,553 5,626 9,537 11,599 2,322 13,385 8,354 4,442 7,475 8,040 8,477 6,083 7,398 4,286 10,459 8,466 8,466 Net Income (Continuing Operations)
4,553 5,626 9,537 11,599 2,322 13,385 8,354 4,442 7,475 8,040 8,477 6,083 7,398 4,286 10,459 8,466 8,466 Net Income
21.73 22.29 25.32 25.22 10.45 29.63 22.65 16.86 23.39 25.23 26.47 19.47 26.45 14.36 31.30 25.43 25.43 Net Margin %
-- 17.00 139 192 281 1,193 641 1,932 183 314 400 515 311 601 599 569 569 Preferred dividends
9.30 11.73 20.93 26.34 4.67 23.74 14.15 4.71 14.63 16.34 17.55 12.35 16.53 9.12 25.53 21.18 21.16 EPS (Basic)
8.92 11.21 19.69 24.73 4.47 22.13 13.18 4.51 14.13 15.46 17.07 12.14 16.29 9.01 25.27 21.03 21.00 EPS (Diluted)
511 500 477 461 456 551 585 557 516 500 473 459 435 409 390 376 367 Shares Outstanding (Diluted
Average)
845 854 995 1,167 1,625 1,943 1,904 1,869 1,738 1,322 1,337 991 998 1,152 1,328 1,704 1,704 Depreciation, Depletion and
Amortization
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GS 3/7
Balance Sheet
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,365 10,261 6,293 11,882 122,404 38,291 39,788 56,008 72,669 61,133 57,600 93,439 121,711 110,051 130,547 133,546 133,546 Cash And Cash Equivalents
4,365 10,261 6,293 11,882 122,404 38,291 39,788 56,008 72,669 61,133 57,600 93,439 121,711 110,051 130,547 133,546 133,546 Cash, Cash Equivalents,
Marketable Securities
-- -- -- -- -- 71,647 81,887 60,261 72,874 74,040 63,808 46,430 47,780 84,788 72,455 74,605 74,605 Accounts Receivable
18,823 25,411 19,516 34,769 217,748 117,875 127,914 138,796 189,877 167,533 160,416 176,178 196,851 204,053 209,598 213,950 213,950 Total Current Assets
203,265 243,205 300,332 279,427 339,779 343,886 358,398 364,870 407,464 339,538 312,608 313,760 295,952 315,988 327,419 419,269 419,269 Investments And Advances
-- -- -- 8,975 10,793 11,380 11,106 17,157 17,267 18,236 18,324 17,726 19,750 23,374 27,397 34,196 34,196 Gross Property, Plant and
Equipment
-- -- -- -- -- -- -- -8,460 -9,050 -9,040 -8,980 -7,770 -7,680 -8,280 -9,080 -9,950 -9,950 Accumulated Depreciation
-- -- -- 8,975 10,793 11,380 11,106 8,697 8,217 9,196 9,344 9,956 12,070 15,094 18,317 24,246 24,246 Property, Plant and Equipment
-- -- -- 5,092 5,052 4,920 5,522 5,468 5,099 4,376 4,160 4,148 4,095 4,038 4,082 4,837 4,837 Intangible Assets
-- -- -- -- -- 3,543 3,495 -- -- -- -- -- -- -- 3,758 4,196 4,196 Goodwill
309,291 438,188 518,353 791,533 311,175 370,881 408,392 405,394 327,898 390,864 369,314 357,353 351,197 377,603 372,380 330,666 330,666 Other Long Term Assets
531,379 706,804 838,201 1,119,796 884,547 848,942 911,332 923,225 938,555 911,507 855,842 861,395 860,165 916,776 931,796 992,968 992,968 Total Assets
-- -- -- -- -- 185,634 190,504 198,292 194,485 204,765 213,572 210,362 188,455 178,169 180,235 174,817 174,817 Accounts Payable
-- -- -- -- -- -- 2,042 533 2,724 1,974 1,533 1,280 1,794 4,051 2,864 2,947 2,947 Total Tax Payable
161,221 188,318 223,874 318,453 277,059 185,634 197,196 202,933 216,200 211,922 219,856 219,997 194,469 187,672 189,318 185,400 185,400 Accounts Payable & Accrued
Expense
54,959 55,219 47,904 71,557 52,658 37,516 47,842 78,223 67,349 61,982 60,099 57,020 52,383 61,818 50,057 55,611 55,611 Current Portion of Long-Term
Debt
216,180 243,537 271,778 390,010 329,717 223,150 245,038 281,156 283,549 273,904 279,955 277,017 246,852 249,490 239,375 241,011 241,011 Total Current Liabilities
80,696 100,007 122,842 164,174 168,220 185,085 212,776 182,814 177,630 168,966 175,394 186,443 198,075 227,579 236,027 219,029 219,029 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 2,385 2,385 Capital Lease Obligation
80,696 100,007 122,842 164,174 168,220 185,085 212,776 182,814 177,630 168,966 175,394 186,443 198,075 227,579 236,027 221,414 221,414 Long-Term Debt & Capital
Lease Obligation
5.41 5.54 4.77 5.51 3.43 3.15 3.37 3.71 3.24 2.94 2.84 2.81 2.88 3.52 3.17 3.07 3.07 Debt to Equity
-- -- -- -- -- -- 9,540 6,006 8,538 8,084 8,544 8,298 7,258 6,866 6,956 6,970 6,970 PensionAndRetirementBenefit
-- -- -- 7,265 -- -- -- -- -- -- -- -- -- -- -- -- Minority Interest
--
209,424 335,258 407,795 515,547 322,241 369,993 366,622 382,870 393,122 382,086 309,152 302,909 321,087 350,598 359,253 433,308 433,308 Other Long-Term Liabilities
506,300 678,802 802,415 1,069,731 820,178 778,228 833,976 852,846 862,839 833,040 773,045 774,667 773,272 834,533 841,611 902,703 902,703 Total Liabilities
6.00 6.00 6.00 6.00 7.00 8.00 8.00 8.00 8.00 8.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 Common Stock
-- 1,750 3,100 3,100 16,471 6,957 6,957 3,100 6,200 7,200 9,200 11,200 11,203 11,853 11,203 11,203 11,203 Preferred Stock
13,970 19,085 27,868 38,642 39,913 50,252 57,163 58,834 65,223 71,961 78,984 83,386 89,039 91,519 100,100 106,465 106,465 Retained Earnings
1,907 3,415 6,311 9,184 -202 -362 -286 -516 -193 -524 -743 -718 -1,216 -1,880 693 -1,484 -1,484 Accumulated other
comprehensive income (loss)
15,501 17,159 19,731 22,027 31,071 39,770 42,103 45,553 48,030 48,998 50,049 51,340 52,638 53,357 54,005 54,883 54,883 Additional Paid-In Capital
-6,305 -13,413 -21,230 -30,159 -32,175 -32,156 -36,295 -42,281 -46,850 -53,015 -58,468 -62,640 -68,694 -75,392 -78,670 -84,006 -84,006 Treasury Stock
25,079 28,002 35,786 42,800 64,369 70,714 77,356 70,379 75,716 78,467 82,797 86,728 86,893 82,243 90,185 90,265 90,265 Total Equity
0.05 0.04 0.04 0.04 0.07 0.08 0.09 0.08 0.08 0.09 0.10 0.10 0.10 0.09 0.10 0.09 0.09 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GS 4/7
Cashflow Statement
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,553 5,626 9,537 11,599 2,322 13,385 8,354 4,442 7,475 8,040 8,477 6,083 7,398 4,286 10,459 8,466 8,466 Net Income
4,553 5,626 9,537 11,599 2,322 13,385 8,354 4,442 7,475 8,040 8,477 6,083 7,398 4,286 10,459 8,466 8,466 Net Income From Continuing
Operations
845 854 995 1,167 1,625 1,943 1,904 1,869 1,738 1,322 1,337 991 998 1,152 1,328 1,704 1,704 Depreciation, Depletion and
Amortization
-- -- -- -- -6,587 6,265 201 -3,780 -20,499 -3,682 12,328 19,132 -15,813 -30,082 -- -- -- Change In Receivables
-- -- -- -- -50.00 -47,414 -4,637 13,883 -17,661 1,631 -- -- -- -- -- -- -- Change In Payables And Accrued
Expense
-5,481 -48,876 -44,413 -93,519 -1,901 31,969 -20,989 12,615 3,197 -6,652 -20,037 -256 -4,749 -33,697 5,077 10,969 10,969 Change In Working Capital
1,040 -450 -1,505 129 -1,763 -431 1,339 726 -356 29.00 495 425 551 5,458 -2,645 -334 -- Change In DeferredTax
-- -- -- -- 1,611 2,009 4,035 2,849 1,319 2,015 2,085 2,272 2,111 1,769 1,831 2,018 2,018 Stock Based Compensation
-34,348 30,433 -12,231 12,427 -- -- -- -- -494 -211 -289 -34.00 185 543 514 1,045 711 Cash Flow from Others
-33,391 -12,413 -47,617 -68,197 1,894 48,875 -5,357 22,501 12,879 4,543 -7,932 9,481 6,494 -20,489 16,564 23,868 23,868 Cash Flow from Operations
-829 -1,421 -1,675 -2,037 -2,027 -1,556 -1,227 -1,184 -961 -706 -678 -1,833 -2,865 -3,184 -7,982 -8,443 -8,443 Purchase Of Property, Plant,
Equipment
-- -- -- -- 121 82.00 72.00 78.00 49.00 62.00 30.00 228 381 574 3,711 6,632 6,632 Sale Of Property, Plant, Equipment
-- -- -- -- -2,613 -221 -804 -431 -593 -2,274 -1,732 -1,808 -- -2,383 -162 -803 -819 Purchase Of Business
-- -- -12,922 -872 -3,851 -2,722 -1,885 -2,752 -5,220 -738 -- -- -- -17,381 -9,418 -29,773 -29,773 Purchase Of Investment
-- 274 6,510 5,205 4,033 2,856 3,659 5,774 5,732 3,320 1,514 1,019 1,517 13,031 8,095 17,812 17,812 Sale Of Investment
-255 83.00 -1,661 -1,900 -- -- -800 -856 -2,741 -8,392 -14,043 -16,180 10,642 -17,034 -13,064 -9,661 -9,661 Cash From Other Investing Activities
-1,084 -1,064 -9,748 396 -4,337 -1,561 -985 629 -3,734 -8,728 -14,909 -18,574 9,675 -26,377 -18,820 -24,236 -24,236 Cash Flow from Investing
-- -- -- -- 6,105 6,260 581 368 317 65.00 123 259 6.00 7.00 38.00 -- -- Issuance of Stock
-1,284 -5,965 -6,204 -8,165 -2,034 -2.00 -4,183 -6,048 -4,640 -6,175 -5,469 -4,135 -6,078 -6,772 -3,294 -5,335 -5,335 Repurchase of Stock
-- 1,719 1,349 -- 13,366 -9,574 -- -3,857 3,087 991 369 1,992 132 645 -650 -2.00 -2.00 Net Issuance of Preferred Stock
32,986 23,070 55,185 72,083 -23,987 -25,796 12,160 -4,062 -16,002 -2,584 11,805 17,686 8,704 29,131 7,086 -24,008 -24,008 Net Issuance of Debt
-497 -511 -754 -831 -850 -2,205 -1,443 -2,771 -1,086 -1,302 -1,454 -1,681 -1,706 -1,769 -1,810 -2,104 -2,104 Cash Flow for Dividends
548 1,060 3,821 10,303 15,301 8,489 724 9,460 25,840 1,654 13,625 13,386 11,045 13,964 21,382 34,816 34,816 Other Financing
31,753 19,373 53,397 73,390 7,901 -22,828 7,839 -6,910 7,516 -7,351 18,999 27,507 12,103 35,206 22,752 3,367 3,367 Cash Flow from Financing
-2,722 5,896 -3,968 5,589 5,458 24,486 1,497 16,220 16,661 -11,536 -3,842 18,414 28,272 -11,660 20,496 2,999 Net Change in Cash
2,999
-829 -1,421 -1,675 -2,037 -2,027 -1,556 -1,227 -1,184 -961 -706 -678 -1,833 -2,865 -3,184 -7,982 -8,443 -8,443 Capital Expenditure
-34,220 -13,834 -49,292 -70,234 -133 47,319 -6,584 21,317 11,918 3,837 -8,610 7,648 3,629 -23,673 8,582 15,425 15,425 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GS 5/7
Valuation Ratios
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.76 11.49 9.89 9.17 18.76 7.69 12.80 20.65 9.01 11.46 11.36 14.91 14.64 29.59 6.62 10.95 9.97 PE Ratio(TTM)
-- -- -- -- 64.22 2.17 -- 2.73 5.78 53.20 -- 13.91 42.94 -- 4.63 4.98 4.54 Price to Owner Earnings
(TTM)
2.01 2.15 2.46 2.23 0.76 1.36 1.21 0.65 0.85 1.11 1.13 1.00 1.24 1.36 0.78 1.03 0.94 Price to Book
2.01 2.15 2.46 2.56 0.85 1.48 1.32 0.71 0.92 1.18 1.20 1.06 1.31 1.44 0.82 1.10 1.00 Price to Tangible Book
-- -- -- -- -- 2.03 -- 2.36 5.57 22.76 -- 10.63 28.65 -- 7.43 4.98 4.54 Price-to-Free-Cash-Flow
Ratio
-- -- -- -- 24.37 1.96 -- 2.24 5.15 19.26 -- 8.60 16.00 -- 3.89 3.35 3.05 Price-to-Operating-Cash-
Flow Ratio
2.56 2.55 2.47 2.27 1.59 2.06 2.67 1.93 2.06 2.78 2.87 2.65 3.72 3.49 1.95 2.59 2.36 PS Ratio
0.71 0.73 0.29 0.22 0.89 1.93 -- -- -- 1.73 -- 1.65 2.33 -- -- -- -- PEG Ratio
8.67 8.05 6.58 7.02 6.81 6.16 8.49 9.57 7.44 8.04 8.45 7.58 8.37 9.60 6.83 7.09 6.82 EV-to-Revenue
24.16 22.25 15.94 17.19 37.55 12.78 21.16 23.22 14.43 15.77 15.91 24.19 20.65 -2.39 -- -- -- EV-to-EBITDA
-8.73 -4.83 -3.27 -10.76 -64.57 -20.37 -21.51 -17.98 10.10 24.51 5.37 14.64 12.37 -3.23 -- -- -- Forward Rate of Return
-- -- -- -- -- 14.06 13.17 6.95 9.03 11.67 12.28 11.43 15.59 18.56 10.41 14.51 13.22 Shiller PE Ratio
0.95 0.78 0.67 0.62 1.77 0.90 0.83 1.55 1.39 1.16 1.16 1.41 1.09 1.14 1.89 1.80 2.19 Dividend Yield %
Valuation and Quality
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
50,385 56,378 80,387 88,544 36,476 86,972 85,346 43,901 59,334 79,122 83,397 75,603 94,016 95,486 61,431 81,415 72,408 Market Cap
181,675 203,093 247,940 322,758 151,421 278,239 313,133 252,030 237,844 256,137 270,490 236,827 233,966 286,685 228,171 236,097 227,090 Enterprise Value
105 129 195 227 78.99 169 168 90.43 128 177 194 180 239 255 167 230 209 Month End Stock Price
-1,044 -1,529 -1,929 -2,726 -1,511 -1,436 -1,565 -1,641 -1,699 -1,729 -1,663 -1,624 -1,659 -1,933 -1,934 -2,172 -2,172 Net Cash (per share)
-1,044 -1,533 -1,937 -2,734 -1,547 -1,346 -1,458 -1,555 -1,595 -1,621 -1,573 -1,568 -1,597 -1,795 -1,816 -2,046 -2,046 Net-Net Working Capital
(per share)
-328 -247 -595 -1,000 -510 -229 -145 -66.51 132 381 380 257 318 145 152 210 210 Projected FCF (per share)
-- -- -- -- -- 221 166 120 155 156 167 168 159 185 224 228 228 Median PS (per share)
148 176 492 618 88.45 302 -- -- -- 103 -- 110 103 -- -- -- -- Peter Lynch Fair Value (per
share)
102 123 187 222 96.60 238 195 114 210 228 249 216 259 189 340 315 315 Graham Number (per share)
-289 -320 -373 -523 -237 -341 -400 -414 -364 -365 -398 -350 -332 -493 -487 -511 -511 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-1.89 -2.14 -1.70 -1.09 -3.33 -1.55 -2.26 -2.85 -2.31 -2.38 -2.55 -2.73 -2.41 -1.67 -2.61 -2.49 -2.49 Beneish M-Score
0.39 0.33 0.28 0.33 0.15 0.29 0.35 0.30 0.27 0.27 0.29 0.28 0.25 0.30 0.27 0.25 0.23 Scaled Net Operating
Assets
7.34 2.70 7.98 7.09 0.54 -4.00 1.61 -2.02 -0.18 1.34 3.66 1.76 -1.02 5.58 1.36 0.89 0.89 Sloan Ratio (%)
109 134 202 248 227 192 185 175 130 177 197 218 243 261 273 231 250 Highest Stock Price
83.86 95.50 125 165 52.00 59.20 131 87.70 90.43 128 153 172 140 211 156 167 181 Lowest Stock Price
-1.68 9.10 5.61 5.33 -18.20 -11.55 1.47 4.35 4.19 4.04 3.61 2.51 6.40 4.54 1.89 3.71 3.71 Shares Buyback Ratio (%)
31.11 22.94 56.37 26.38 -51.15 68.34 -23.16 -24.91 30.87 3.01 6.12 0.66 -5.65 13.53 17.35 3.54 3.69 YoY Rev. per Sh. Growth
(%)
51.96 25.67 75.65 25.60 -81.92 395 -40.44 -65.78 213 9.41 10.41 -28.88 34.18 -44.69 180 -16.78 -16.83 YoY EPS Growth (%)
16.62 15.66 33.60 41.69 21.01 3.98 -0.79 -9.83 -8.14 6.64 -2.76 9.04 6.28 -0.70 -- -- -- EBITDA 5-Y Growth (%)
490 478 449 433 437 512 542 525 496 471 459 449 427 402 385 372 362 Shares Outstanding (Basic
Average)
481 437 413 391 462 515 508 485 465 446 430 419 393 375 368 354 354 Shares Outstanding (EOP)
1.24 1.15 1.00 1.75 1.90 1.41 1.25 1.16 1.59 1.97 1.74 1.42 1.36 1.51 1.07 1.32 1.33 Beta
02/08/05 02/07/06 02/06/07 01/29/08 01/27/09 03/01/10 03/01/11 02/28/12 03/01/13 02/28/14 02/23/15 02/22/16 02/27/17 02/26/18 02/26/19 02/21/20 Filing Date
02/07/06 02/07/06 02/06/07 01/29/08 03/01/10 03/01/11 03/01/13 02/28/14 02/23/15 02/22/16 02/27/17 02/26/18 02/26/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GS 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GS 7/7
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MON 1/1
Starbucks Corp (NAS:SBUX) 03/02/2020 4:00PM EST GuruFocus
Price: $ 82.38 +3.95(+5.04%) Market Cap: $ 96.69 B Enterprise Value: $114.21 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 26.92
Cash to Debt 0.15 Operating margin (%) 15.11
Forward P/E N/A
Equity to Asset -0.24 Net-margin (%) 13.81
PE(NRI) 26.92
Interest Coverage 11.72 ROA (%) 17.66
F-Score:
P/S 3.71
ROC (Joel Greenblatt) (%) 63.13
5 PFCF 36.21
Z-Score: Revenue Growth (3Y)(%) 14.50
2.80 POCF 22.09
EBITDA Growth (3Y)(%) 12.30
M-Score: EV-to-EBIT 22.88
-2.57 EPS Growth (3Y)(%) 15.40
PEG 1.83
WACC vs 3.54%
ROIC 89.43% Shiller P/E 47.81
WACC
ROIC Current Ratio 0.68
Quick Ratio 0.52
Days Inventory 27.40
Days Sales Outstanding 12.29
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Through a global chain of almost 31,300 company-owned and licensed stores, Starbucks sells coffee, espresso, teas,
Long-Term Debt: Issuing new cold blended beverages, food, and accessories. The company also distributes packaged and single-serve coffee, tea,
debt 2016 4,993 5,238 5,711 5,733 21,675 juice, and pastries through its own stores, grocery store chains, and warehouse clubs under the Starbucks and
2017 5,294 5,662 5,698 6,074 22,728 Teavana brands under the Global Coffee Alliance partnership with Nestle. In addition, Starbucks markets bottled
Insider Sell: Insider Selling beverages, ice creams, and liqueurs through partnerships with Pepsi, Anheuser-Busch, Tingyi, and Arla. In fiscal
2018 6,032 6,310 6,304 6,633 25,278 2019, Starbucks' Americas segment (including the U.S.) represented 69% of total revenue, followed by the
2019 6,306 6,823 6,747 7,097 26,973 International segment (including China) at 23%, then channel development at almost 8%.... (Read More)
Good Signs 2020 Competitors: NYSE:MCD, LSE:CPG, NYSE:YUM, NYSE:CMG, TSX:QSP.UN, HKSE:06862 , TSX:QSR,
NYSE:YUMC, NYSE:DRI, NYSE:DPZ, NYSE:ARMK, NAS:LK, LSE:WTB, NAS:DNKN, TSE:2702, NAS:WEN,
Revenue per Share: Quarterly Earnings per Share NAS:TXRH, BKK:MINT, PHS:JFC, NAS:CBRL
Consistent growth Mar Jun Sep Dec Full Year Insider Trades
Dividend Yield %: Close to 1- 2016 0.39 0.51 0.54 0.51 1.95
year high 2017 0.45 0.47 0.54 1.57 3.03
2018 0.47 0.61 0.56 0.61 2.25
PS Ratio: Close to 1-year low 2019 0.53 1.12 0.67 0.74 3.06
2020
DCF Quarterly Dividends Per Share
EPS without NRI: $3.06 Mar Jun Sep Dec Full Year
Growth Rate in the next 10 2016 0.20 0.20 0.20 0.25 0.85
years: 20% 2017 0.25 0.25 0.25 0.30 1.05
Terminal Growth Rate for 10 2018 0.30 0.30 0.36 0.36 1.32
years: 4% 2019 0.36 0.36 0.36 0.41 1.49
Fair Value: $87.11 2020
Growth Rate
Reverse DCF
Annual Rates(per share) 10-Y 5-Y 12-M
Expected eps Growth Rate:
Revenue Growth (%) 12.60 13.80 18.00
19.16%
EBITDA Growth (%) 21.40 14.70 33.70
Free Cash Flow Growth (%) 0.00 0.00 -71.10
Book Value Growth (%) 0.00 0.00 0.00
EPS Growth (%) 29.10 17.40 36.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBUX 1/7
Per Share Data
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
3.22 1.95 4.91 6.11 7.00 6.55 7.01 7.60 8.59 9.75 10.78 12.66 14.34 15.32 17.73 21.50 22.18 Revenue per Share
0.57 0.36 0.83 1.00 0.75 0.78 1.32 1.56 1.73 0.30 2.60 3.24 3.57 3.75 5.20 5.07 5.31 EBITDA per Share
0.37 0.24 0.56 0.68 0.35 0.40 0.96 1.20 1.35 -0.13 2.11 2.63 2.88 3.02 4.27 3.89 4.11 EBIT per Share
0.12 0.15 0.36 0.44 0.22 0.26 0.62 0.81 0.90 0.01 1.35 1.82 1.90 1.97 3.24 2.92 3.06 Earnings per Share (diluted)
0.12 0.15 0.37 0.44 0.22 0.26 0.62 0.81 0.90 0.01 1.35 1.82 1.90 1.97 3.24 2.92 3.06 eps without NRI
0.30 0.15 0.45 0.49 0.15 0.29 0.61 0.63 0.80 -0.15 -0.06 2.08 2.34 2.06 9.01 3.13 2.47 Owner Earnings per Share (TTM)
0.27 0.09 0.23 0.16 0.19 0.63 0.82 0.70 0.58 1.15 -0.36 1.62 2.19 1.87 7.14 2.63 2.28 Free Cashflow per Share
-- -- -- -- -- -- 0.12 0.26 0.34 0.42 0.52 0.64 0.80 1.00 1.26 1.44 1.49 Dividends per Share
1.55 1.36 1.47 1.55 1.69 2.05 2.47 2.96 3.41 2.97 3.52 3.92 4.03 3.81 0.89 -5.26 -5.76 Book Value per Share
1.49 1.28 1.34 1.37 1.47 1.83 2.25 2.67 3.05 2.22 2.76 2.51 2.50 2.42 -2.61 -8.87 -9.38 Tangible Book per Share
0.00 0.18 0.46 0.85 0.86 0.37 0.37 0.37 0.37 0.86 1.37 1.58 2.46 2.75 7.21 9.43 17.57 Total Debt per Share
11.37 12.54 17.03 13.10 7.44 10.33 12.78 18.65 25.36 38.49 37.73 56.84 54.14 54.50 56.84 88.42 82.38 Month End Stock Price
Ratios
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
17.08 21.68 26.13 29.81 13.21 14.12 28.14 30.91 29.15 0.17 42.41 49.73 48.16 50.90 137 -- -- Return on Equity %
12.72 14.33 14.21 13.77 5.73 6.95 15.81 18.12 17.76 0.08 18.57 23.80 21.08 20.12 23.46 16.60 17.66 Return on Assets %
41.32 46.01 43.29 40.71 17.54 21.81 59.35 77.31 83.44 -6.89 95.95 104 99.28 93.30 110 77.62 63.13 Return on Capital %
21.36 24.94 25.26 23.96 13.77 16.95 30.54 37.07 36.90 -2.74 45.54 39.38 37.58 37.43 71.04 163 89.43 Return on Invested Capital %
6.41 7.72 11.59 11.79 8.33 10.62 10.41 9.40 6.86 7.24 8.51 6.88 5.44 5.74 6.51 4.56 3.54 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 4.23 4.31 5.95 6.06 5.95 3.04 3.83 3.21 2.74 2.46 2.55 3.21 2.84 Effective Interest Rate on Debt %
21.55 22.00 21.32 23.34 55.26 55.75 58.75 27.26 26.70 28.24 30.10 31.12 31.63 30.53 29.60 28.25 28.35 Gross Margin %
11.46 12.26 11.48 11.20 6.33 7.90 12.37 13.03 13.46 14.85 16.98 17.49 18.08 17.41 15.40 14.77 15.11 Operating Margin %
7.35 7.76 7.25 7.15 3.04 4.00 8.83 10.65 10.42 0.06 12.57 14.39 13.22 12.89 18.28 13.58 13.81 Net Margin %
8.42 4.39 4.63 2.67 2.64 9.65 11.76 9.23 6.73 11.82 -3.36 12.76 15.28 12.21 40.30 12.22 10.14 FCF Margin %
0.00 0.13 0.32 0.55 0.51 0.18 0.15 0.13 0.11 0.29 0.39 0.40 0.61 0.72 8.07 -1.79 -3.05 Debt to Equity
0.73 0.60 0.50 0.43 0.44 0.55 0.58 0.60 0.62 0.39 0.49 0.47 0.41 0.38 0.05 -0.32 -0.24 Total Equity to Total Asset
0.00 0.08 0.16 0.24 0.22 0.10 0.09 0.08 0.07 0.11 0.19 0.19 0.25 0.27 0.39 0.58 0.74 Total Debt to Total Asset
37.31 40.61 41.81 44.95 104 96.89 105 46.41 45.51 42.55 44.46 51.48 50.45 47.66 37.99 34.53 36.25 Gross Profit to Total Asset %
1.73 1.85 1.96 1.93 1.89 1.74 1.79 1.70 1.70 1.51 1.48 1.65 1.60 1.56 1.28 1.22 1.28 Asset Turnover
-- -- -- -- -- -- 0.19 0.32 0.38 42.00 0.39 0.35 0.42 0.51 0.39 0.49 0.49 Dividend Payout Ratio
9.67 10.93 10.51 11.17 11.58 10.12 10.32 12.06 13.36 13.78 14.00 13.70 13.16 14.19 10.23 12.11 12.29 Days Sales Outstanding
17.52 16.23 20.31 19.77 25.53 22.54 23.36 23.16 14.93 16.82 16.94 18.92 18.30 18.36 24.73 22.83 20.50 Days Accounts Payable
33.64 35.59 35.22 33.59 54.39 57.29 49.93 32.36 41.40 40.25 34.96 33.15 33.62 32.18 28.99 28.11 27.40 Days Inventory
25.79 30.29 25.42 24.99 40.44 44.87 36.89 21.26 39.83 37.21 32.02 27.93 28.48 28.01 14.49 17.39 19.19 Cash Conversion Cycle
10.85 10.25 10.36 10.87 6.71 6.37 7.31 11.28 8.82 9.07 10.44 11.01 10.86 11.34 12.59 12.98 13.32 Inventory Turnover
0.78 0.78 0.79 0.77 0.45 0.44 0.41 0.73 0.73 0.72 0.70 0.69 0.68 0.69 0.70 0.72 0.72 COGS to Revenue
0.07 0.08 0.08 0.07 0.07 0.07 0.06 0.06 0.08 0.08 0.07 0.06 0.06 0.06 0.06 0.06 0.05 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBUX 2/7
Income Statement
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
5,294 6,369 7,787 9,411 10,383 9,775 10,707 11,700 13,277 14,867 16,448 19,163 21,316 22,387 24,720 26,509 26,973 Revenue
4,153 4,968 6,127 7,215 4,645 4,325 4,417 8,510 9,731 10,668 11,497 13,199 14,573 15,552 17,403 19,021 19,327 Cost of Goods Sold
1,141 1,401 1,660 2,196 5,738 5,450 6,291 3,190 3,545 4,198 4,951 5,964 6,743 6,835 7,317 7,488 7,646 Gross Profit
21.55 22.00 21.32 23.34 55.26 55.75 58.75 27.26 26.70 28.24 30.10 31.12 31.63 30.53 29.60 28.25 28.35 Gross Margin %
304 357 473 783 4,201 3,878 4,177 749 801 938 991 1,197 1,409 1,408 1,708 1,824 1,795 Selling, General, & Admin. Expense
230 263 293 359 879 799 790 916 958 1,053 1,167 1,416 1,480 1,529 1,802 1,748 1,775 Other Operating Expense
607 781 894 1,054 657 773 1,324 1,525 1,787 2,207 2,793 3,351 3,854 3,897 3,807 3,916 4,077 Operating Income
11.46 12.26 11.48 11.20 6.33 7.90 12.37 13.03 13.46 14.85 16.98 17.49 18.08 17.41 15.40 14.77 15.11 Operating Margin %
-- -- -- -- 9.00 37.00 50.30 116 94.40 124 143 43.00 103 182 191 96.50 87.60 Interest Income
-- -- -- -- -53.40 -39.10 -32.70 -33.30 -32.70 -28.10 -64.10 -70.50 -81.30 -92.50 -170 -331 -348 Interest Expense
-- -- -- -- -44.40 -2.10 -32.70 82.60 61.70 95.50 78.60 -27.50 21.30 89.30 21.10 -235 -260 Net Interest Income
14.05 15.73 12.29 2.42 -153 -211 145 204 211 -2,533 289 579 324 331 1,952 785 828 Other Income (Expense)
-- -- -- -- -- -0.70 -2.70 -2.30 -0.90 -0.50 0.40 -1.90 -1.20 -0.20 0.30 4.60 4.80 Other Income (Minority Interest)
621 796 906 1,056 460 560 1,437 1,811 2,059 -230 3,160 3,903 4,199 4,318 5,780 4,466 4,645 Pre-Tax Income
-232 -302 -325 -384 -144 -168 -489 -563 -674 239 -1,092 -1,144 -1,380 -1,433 -1,262 -872 -925 Tax Provision
37.34 37.92 35.84 36.33 31.34 30.08 34.01 31.09 32.75 104 34.56 29.30 32.86 33.18 21.83 19.52 19.91 Tax Rate %
389 494 581 673 316 392 948 1,248 1,385 8.80 2,068 2,759 2,819 2,885 4,518 3,595 3,720 Net Income (Continuing Operations)
389 494 564 673 316 391 946 1,246 1,384 8.30 2,068 2,757 2,818 2,885 4,518 3,599 3,725 Net Income
7.35 7.76 7.25 7.15 3.04 4.00 8.83 10.65 10.42 0.06 12.57 14.39 13.22 12.89 18.28 13.58 13.81 Net Margin %
0.12 0.16 0.37 0.45 0.22 0.27 0.64 0.83 0.92 0.01 1.37 1.84 1.91 1.99 3.27 2.95 3.10 EPS (Basic)
0.12 0.15 0.36 0.44 0.22 0.26 0.62 0.81 0.90 0.01 1.35 1.82 1.90 1.97 3.24 2.92 3.06 EPS (Diluted)
1,642 3,262 1,585 1,540 1,483 1,492 1,528 1,539 1,546 1,525 1,526 1,513 1,487 1,462 1,395 1,233 1,191 Shares Outstanding (Diluted
Average)
326 377 415 492 605 563 541 550 581 656 748 934 1,030 1,067 1,306 1,449 1,468 Depreciation, Depletion and
Amortization
932 1,158 1,309 1,546 1,117 1,162 2,011 2,394 2,672 454 3,972 4,907 5,310 5,477 7,256 6,247 6,460 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBUX 3/7
Balance Sheet
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
145 174 313 281 270 600 1,164 1,148 1,189 2,576 1,708 1,530 2,129 2,462 8,756 2,687 3,041 Cash And Cash Equivalents
508 133 141 157 52.50 66.30 286 903 848 658 135 81.30 134 229 182 70.50 68.40 Marketable Securities
653 307 454 439 322 666 1,450 2,051 2,037 3,234 1,844 1,611 2,263 2,691 8,938 2,757 3,109 Cash, Cash Equivalents, Marketable
Securities
140 191 224 288 330 271 303 387 486 561 631 719 769 870 693 879 908 Accounts Receivable
-- 61.23 81.63 -- 572 549 428 815 126 140 154 179 208 221 258 308 277 Inventories, Raw Materials &
Components
-- -- -- -- 121 116 116 151 1,115 972 937 1,127 1,171 1,143 1,143 1,221 1,132 Inventories, Finished Goods
423 485 555 692 -0.00 -- -- -- -- -- -- -- -- -- -- -- 0.00 Inventories, Other
423 546 636 692 693 665 543 966 1,242 1,111 1,091 1,306 1,379 1,364 1,401 1,529 1,409 Total Inventories
135 165 216 278 403 434 461 392 435 565 603 334 347 290 507 347 333 Other Current Assets
1,351 1,209 1,530 1,697 1,748 2,036 2,756 3,795 4,200 5,471 4,169 3,971 4,758 5,283 12,494 5,654 5,900 Total Current Assets
-- -- -- -- 374 424 533 479 576 555 833 665 1,496 1,024 602 616 611 Investments And Advances
13.12 13.83 32.35 56.24 59.10 58.20 58.00 44.80 46.20 47.00 46.70 46.60 46.60 46.90 46.80 46.80 46.80 Land And Improvements
1,672 2,016 2,546 3,265 218 232 266 219 225 260 278 412 458 482 557 692 570 Buildings And Improvements
1,099 1,292 1,505 1,770 1,784 1,943 1,956 2,155 2,410 2,702 2,982 3,532 3,904 4,245 4,718 5,228 5,326 Machinery, Furniture, Equipment
93.14 146 175 215 294 119 174 127 264 342 416 243 271 410 502 359 360 Construction In Progress
2,878 3,468 4,258 5,307 5,717 5,701 5,889 6,163 6,903 7,782 8,581 9,642 10,573 11,584 13,197 14,274 22,783 Gross Property, Plant and Equipment
-1,326 -1,626 -1,970 -2,416 -2,761 -3,165 -3,472 -3,808 -4,244 -4,582 -5,062 -5,554 -6,040 -6,665 -7,268 -7,842 -8,033 Accumulated Depreciation
1,551 1,842 2,288 2,890 2,956 2,536 2,417 2,355 2,659 3,201 3,519 4,088 4,534 4,920 5,929 6,432 14,749 Property, Plant and Equipment
95.75 128 199 258 333 327 333 434 543 1,138 1,130 2,096 2,236 1,981 4,584 4,273 4,255 Intangible Assets
-- 92.47 161 216 267 259 262 322 399 863 856 1,575 1,720 1,539 3,542 3,491 3,516 Goodwill
388 334 412 499 261 254 347 298 242 1,152 1,102 1,597 1,289 1,158 547 2,245 2,216 Other Long Term Assets
3,387 3,514 4,429 5,344 5,673 5,577 6,386 7,360 8,219 11,517 10,753 12,416 14,313 14,366 24,156 19,220 27,731 Total Assets
199 221 341 391 325 267 283 540 398 492 534 684 731 783 1,179 1,190 1,086 Accounts Payable
-- -- -- -- 76.10 128 100 109 138 125 272 259 368 227 287 1,468 1,592 Total Tax Payable
624 774 1,003 1,148 955 1,038 1,219 1,117 1,150 4,125 1,610 1,917 2,219 2,193 3,478 4,689 4,498 Accounts Payable & Accrued
Expense
0.74 278 701 711 714 -- -- -- -- -- -- -- 400 -- 350 -- 2,266 Current Portion of Long-Term Debt
121 175 232 297 368 389 414 449 510 654 795 984 1,171 1,289 1,643 1,269 1,694 Current Deferred Revenue
121 175 232 297 368 389 414 449 510 654 795 984 1,171 1,289 1,643 1,269 1,694 DeferredTaxAndRevenue
-- -- -- -- 153 154 146 510 549 599 634 747 757 740 214 211 218 Other Current Liabilities
746 1,227 1,936 2,156 2,190 1,581 1,779 2,076 2,210 5,377 3,039 3,648 4,547 4,221 5,684 6,169 8,676 Total Current Liabilities
3.62 2.87 1.96 550 550 549 549 550 550 1,299 2,048 2,348 3,185 3,933 9,090 11,167 10,653 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 7,712 Capital Lease Obligation
3.62 2.87 1.96 550 550 549 549 550 550 1,299 2,048 2,348 3,185 3,933 9,090 11,167 18,365 Long-Term Debt & Capital Lease
Obligation
0.00 0.13 0.32 0.55 0.51 0.18 0.15 0.13 0.11 0.29 0.39 0.40 0.61 0.72 8.07 -1.79 -3.05 Debt to Equity
21.77 -- -- -- -- -- -- -- -- -- -- -- -- 4.40 6,776 6,744 6,749 NonCurrent Deferred Liabilities
-- -- -- 17.30 -- 11.20 7.60 2.40 5.50 2.10 1.70 1.80 6.70 6.90 6.30 1.20 0.80 Minority Interest
145 194 263 337 442 390 375 348 345 358 392 601 690 751 1,431 1,371 701 Other Long-Term Liabilities
916 1,423 2,200 3,043 3,182 2,520 2,704 2,973 3,105 7,034 5,479 6,597 8,422 8,909 22,981 25,451 34,490 Total Liabilities
957 0.77 0.76 0.70 0.70 0.70 0.70 0.70 0.70 0.80 0.70 1.50 1.50 1.40 1.30 1.20 1.20 Common Stock
1,445 1,939 2,151 2,189 2,402 2,793 3,471 4,297 5,046 4,130 5,207 5,975 5,950 5,563 1,457 -5,771 -6,415 Retained Earnings
29.24 20.91 37.27 54.60 48.40 65.40 57.20 46.30 22.70 67.00 25.30 -199 -108 -156 -330 -503 -387 Accumulated other comprehensive
income (loss)
39.39 130 39.39 39.40 39.40 186 146 40.50 39.40 282 39.40 41.10 41.10 41.10 41.10 41.10 41.10 Additional Paid-In Capital
2,470 2,090 2,229 2,284 2,491 3,046 3,675 4,385 5,109 4,480 5,272 5,818 5,884 5,450 1,170 -6,232 -6,760 Total Equity
0.73 0.60 0.50 0.43 0.44 0.55 0.58 0.60 0.62 0.39 0.49 0.47 0.41 0.38 0.05 -0.32 -0.24 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBUX 4/7
Cashflow Statement
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
389 494 564 673 316 392 948 1,248 1,385 8.80 2,068 2,759 2,819 2,885 4,518 3,595 3,720 Net Income
389 494 564 673 316 392 948 1,248 1,385 8.80 2,068 2,759 2,819 2,885 4,518 3,595 3,720 Net Income From Continuing
Operations
326 377 415 492 605 563 541 550 581 656 748 934 1,030 1,067 1,306 1,449 1,468 Depreciation, Depletion and
Amortization
-- -49.31 -- -- -- -- -33.40 -88.70 -90.30 -68.30 -79.70 -82.80 -55.60 -96.80 131 -198 -192 Change In Receivables
-77.66 -122 -85.53 -48.58 -0.60 28.50 123 -422 -273 153 14.30 -208 -67.50 14.00 -41.20 -173 -95.00 Change In Inventory
-16.62 -- -- -- -- -- 17.30 -22.50 -19.70 76.30 418 262 249 -20.00 -840 922 46.20 Change In Prepaid Assets
27.95 9.72 105 36.07 -56.60 4.20 -22.30 146 88.30 434 -2,704 138 46.90 -45.50 538 1,269 816 Change In Payables And Accrued
Expense
64.18 -28.33 222 159 75.50 230 109 -352 -234 735 -2,210 279 353 89.70 6,914 1,649 318 Change In Working Capital
-3.77 -31.25 -84.32 -37.33 -117 -69.60 -42.00 106 61.10 -1,046 10.20 21.20 266 95.10 715 -1,495 -1,130 Change In DeferredTax
-- -- -- -- 75.00 83.20 114 145 154 142 183 210 218 176 250 308 301 Stock Based Compensation
87.97 111 15.12 44.73 -19.70 -33.90 -32.50 -121 -196 2,413 -192 -454 12.10 -148 -1,803 -469 -172 Cash Flow from Others
863 923 1,132 1,331 1,259 1,389 1,705 1,612 1,750 2,908 608 3,749 4,698 4,252 11,938 5,047 4,504 Cash Flow from Operations
-417 -643 -771 -1,080 -985 -446 -446 -532 -856 -1,151 -1,161 -1,304 -1,440 -1,519 -1,976 -1,807 -1,770 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- 42.50 5.10 117 5.30 15.30 -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -74.20 -- -12.00 -55.80 -129 -610 -- -284 -- -- -1,311 -- -- Purchase Of Business
-- -- -- -- -- -- -- -- -- 108 104 8.90 69.60 85.40 608 684 684 Sale Of Business
-888 -643 -639 -294 -124 -134 -549 -966 -1,749 -786 -1,653 -567 -1,586 -674 -192 -190 -120 Purchase Of Investment
623 1,096 700 226 95.90 116 210 430 1,796 1,040 1,911 619 709 1,204 504 358 378 Sale Of Investment
-72.26 -29.50 -131 -53.29 0.00 -- 2.30 -13.20 -41.80 -27.20 -19.10 6.80 24.90 54.30 5.60 -56.20 -59.50 Cash From Other Investing Activities
-754 -221 -841 -1,202 -1,087 -421 -790 -1,020 -974 -1,411 -818 -1,520 -2,223 -850 -2,362 -1,011 -887 Cash Flow from Investing
138 164 159 177 112 57.30 133 250 237 247 140 192 161 151 154 410335 Issuance of Stock
-203 -1,114 -854 -997 -311 -- -286 -556 -549 -588 -759 -1,436 -1,996 -2,043 -7,134 -10,222 -6,199 Repurchase of Stock
-0.72 276 422 558 1.60 -714 -- 30.80 -30.80 715 749 238 1,255 350 5,584 1,646 2,494 Net Issuance of Debt
-- -- -- -- -- -- -171 -390 -513 -629 -783 -929 -1,178 -1,450 -1,743 -1,761 -1,799 Cash Flow for Dividends
-- -- 117 89.55 13.00 14.30 -22.20 56.20 111 147 30.20 -322 -114 -87.20 -104 -129 -152 Other Financing
-66.55 -674 -155 -172 -185 -642 -346 -608 -746 -108 -623 -2,257 -1,873 -3,079 -3,243 -10,057 -5,321 Cash Flow from Financing
45.59 28.76 139 -31.35 -11.50 330 564 -15.90 40.50 1,387 -867 -178 599 334 6,294 -6,070 -1,721 Net Change in Cash
-417 -643 -771 -1,080 -985 -446 -446 -532 -856 -1,151 -1,161 -1,304 -1,440 -1,519 -1,976 -1,807 -1,770 Capital Expenditure
446 280 360 251 274 943 1,259 1,081 894 1,757 -553 2,445 3,258 2,732 9,961 3,240 2,735 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBUX 5/7
Valuation Ratios
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
128 82.23 47.97 30.11 34.60 39.73 20.61 23.02 38.14 3,849 27.74 31.23 28.49 27.66 17.71 30.18 26.92 PE Ratio(TTM)
38.28 85.89 38.10 26.68 50.96 36.25 21.05 29.84 31.74 -- -- 27.33 23.14 26.43 6.31 28.24 33.35 Price to Owner Earnings
(TTM)
7.32 9.21 11.56 8.47 4.39 5.04 5.17 6.31 7.44 12.94 10.73 14.51 13.44 14.32 63.65 -- -- Price to Book
7.61 9.80 12.70 9.55 5.07 5.64 5.68 7.00 8.32 17.35 13.66 22.68 21.67 22.48 -- -- -- Price to Tangible Book
42.43 149 75.02 81.88 40.66 16.34 15.53 26.53 43.88 33.38 -- 35.20 24.73 29.18 7.78 33.77 36.21 Price-to-Free-Cash-Flow
Ratio
22.74 44.79 23.85 15.21 8.77 11.08 11.45 17.80 22.40 20.18 93.16 22.94 17.15 18.74 6.51 21.65 22.09 Price-to-Operating-Cash-
Flow Ratio
3.99 6.41 3.47 2.14 1.06 1.58 1.82 2.45 2.95 3.95 3.50 4.49 3.78 3.56 3.20 4.11 3.71 PS Ratio
9.44 -- 6.19 1.03 1.36 3.39 1.79 2.08 1.45 -- -- 4.25 1.27 0.73 0.30 2.31 1.83 PEG Ratio
3.29 3.02 3.34 2.14 1.14 1.56 1.69 2.24 2.75 3.77 3.45 4.44 3.77 3.54 3.03 4.27 4.23 EV-to-Revenue
18.68 16.60 19.88 13.06 10.64 13.11 8.99 10.92 13.67 124 14.29 17.35 15.14 14.47 10.32 18.11 17.68 EV-to-EBITDA
28.70 24.63 29.11 19.15 23.17 25.45 12.30 14.18 17.46 -278 17.61 21.43 18.79 17.97 12.59 23.59 22.88 EV-to-EBIT
3.48 4.06 3.44 5.22 4.32 3.93 8.13 7.05 5.73 -0.36 5.68 4.67 5.32 5.56 7.94 4.24 4.37 Return on Capital %
14.32 -4.41 8.33 21.20 22.33 14.18 14.50 13.57 21.54 19.07 -3.51 8.61 21.90 22.32 24.34 16.46 16.43 Forward Rate of Return
257 205 177 92.72 44.70 55.23 51.38 55.46 -- 95.79 70.15 80.40 62.53 52.31 41.52 53.05 47.81 Shiller PE Ratio
-- -- -- -- -- -- 0.90 1.39 1.34 1.09 1.38 1.13 1.48 1.83 2.22 1.63 1.85 Dividend Yield %
Valuation and Quality
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
18,074 19,247 25,770 19,343 10,944 15,348 18,981 27,654 38,004 57,981 56,557 84,413 79,071 78,022 74,409 104,742 96,689 Market Cap
17,425 19,221 26,019 20,183 11,885 15,243 18,088 26,155 36,523 56,049 56,763 85,151 80,400 79,271 74,918 113,153 114,212 Enterprise Value
11.37 12.54 17.03 13.10 7.44 10.33 12.78 18.65 25.36 38.49 37.73 56.84 54.14 54.50 56.84 88.42 82.38 Month End Stock Price
-0.17 -0.73 -1.15 -1.78 -1.94 -1.26 -0.85 -0.62 -0.72 -2.52 -2.43 -3.36 -4.22 -4.35 -10.73 -19.16 -26.72 Net Cash (per share)
0.27 -0.14 -0.44 -0.92 -0.97 -0.33 0.03 0.55 0.73 -1.04 -0.88 -1.77 -2.51 -2.54 -8.02 -16.71 -24.34 Net Current Asset Value
(per share)
0.03 -0.46 -0.83 -1.39 -1.54 -0.89 -0.51 -0.10 -0.06 -1.88 -1.75 -2.56 -3.35 -3.42 -9.80 -17.96 -25.54 Net-Net Working Capital
(per share)
2.42 1.40 3.46 3.89 4.38 5.78 7.42 7.94 9.48 9.29 9.57 12.38 15.82 17.95 30.41 36.86 43.20 Projected FCF (per share)
9.94 7.19 19.39 24.15 27.53 24.82 24.54 23.07 25.38 29.41 32.52 38.21 43.27 49.82 62.42 79.05 82.12 Median PS (per share)
1.20 4.07 2.75 10.88 5.38 3.05 7.12 8.95 17.51 -0.09 28.83 13.36 42.64 49.25 80.25 38.21 38.37 Peter Lynch Fair Value (per
share)
1.99 2.09 3.32 3.66 2.66 3.27 5.60 6.97 7.83 0.71 9.16 10.13 10.33 10.37 -- -- -- Graham Number (per share)
1.61 0.58 0.56 0.54 -0.98 0.46 2.34 3.44 4.04 7.28 6.20 6.31 7.72 9.41 12.47 9.27 2.13 Earnings Power Value
(EPV)
14.81 11.44 10.03 6.70 4.70 6.56 7.59 9.10 10.95 6.69 9.52 10.98 8.71 8.46 4.20 4.22 2.80 Altman Z-Score
7.00 6.00 7.00 5.00 7.00 6.00 8.00 6.00 5.00 6.00 6.00 7.00 5.00 5.00 7.00 4.00 5.00 Piotroski F-Score
-1.98 -3.07 -3.02 -3.44 -3.12 -3.23 -2.97 -1.99 -2.54 -2.56 -1.77 -2.89 -3.19 -2.97 -4.56 -2.69 -2.57 Beneish M-Score
0.67 0.61 0.71 0.71 0.64 0.52 0.50 0.45 0.49 0.31 0.48 0.61 0.58 0.47 0.12 0.09 0.56 Scaled Net Operating
Assets
8.26 -5.92 6.18 10.17 2.53 -10.35 0.47 8.87 7.39 -12.93 21.18 4.26 2.39 -3.60 -20.94 -2.27 0.39 Sloan Ratio (%)
1.81 0.99 0.79 0.79 0.80 1.29 1.55 1.83 1.90 1.02 1.37 1.09 1.05 1.25 2.20 0.92 0.68 Current Ratio
1.24 0.54 0.46 0.47 0.48 0.87 1.24 1.36 1.34 0.81 1.01 0.73 0.74 0.93 1.95 0.67 0.52 Quick Ratio
11.97 16.03 19.82 19.72 13.42 10.38 14.05 20.58 30.84 38.67 41.00 59.01 63.51 64.57 61.69 99.11 99.72 Highest Stock Price
7.33 11.42 12.45 12.77 6.79 3.59 9.37 12.85 18.10 22.49 34.37 36.10 53.01 51.77 48.54 54.86 69.03 Lowest Stock Price
-0.94 3.44 1.41 2.42 0.38 -1.01 0.04 0.16 -1.07 -0.52 0.49 0.93 1.66 1.98 8.56 9.51 5.53 Shares Buyback Ratio (%)
27.08 -39.42 152 24.38 14.53 -6.39 6.93 8.49 12.99 13.55 10.50 17.50 13.24 6.83 15.71 21.28 17.96 YoY Rev. per Sh. Growth
(%)
-29.85 29.79 133 22.54 -50.57 20.93 138 30.65 10.49 -98.88 13,400 34.81 4.40 3.68 64.47 -9.88 36.00 YoY EPS Growth (%)
33.33 -37.50 133 21.55 -25.00 3.45 68.81 18.25 11.19 -82.76 773 24.59 10.14 4.93 38.82 -2.65 33.70 YoY EBITDA Growth (%)
13.57 -5.19 7.54 29.26 25.42 11.73 11.49 11.05 19.36 17.17 -5.06 7.34 22.44 37.93 58.17 13.04 14.70 EBITDA 5-Y Growth (%)
1,587 3,158 1,532 1,500 1,463 1,477 1,489 1,497 1,509 1,499 1,506 1,496 1,472 1,450 1,383 1,221 1,180 Shares Outstanding (Basic
Average)
1,590 1,535 1,513 1,477 1,471 1,486 1,485 1,483 1,499 1,506 1,499 1,485 1,461 1,432 1,309 1,185 1,174 Shares Outstanding (EOP)
0.38 0.57 1.17 1.26 0.88 1.32 1.35 1.26 0.88 0.78 1.02 0.82 0.66 0.60 0.63 0.50 0.42 Beta
12/10/04 12/16/05 12/14/06 11/29/07 11/24/08 11/20/09 11/22/10 11/18/11 11/16/12 11/18/13 11/14/14 11/12/15 11/18/16 11/17/17 11/16/18 11/15/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBUX 6/7
12/16/05 12/14/06 11/29/07 11/24/08 11/20/09 11/22/10 11/16/12 11/18/13 11/14/14 11/12/15 11/18/16 11/17/17 11/16/18 11/15/19 11/15/19 11/15/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SBUX 7/7
Air Products & Chemicals Inc (NYSE:APD) 03/03/2020 2:00PM EST GuruFocus
Price: $ 227.39 -3.26(-1.41%) Market Cap: $ 50.18 B Enterprise Value: $51.49 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 26.71
Cash to Debt 0.72 Operating margin (%) 25.11
Forward P/E N/A
Equity to Asset 0.59 Net-margin (%) 21.10
PE(NRI) 26.71
Interest Coverage 18.98 ROE (%) 16.84
F-Score:
P/B 4.33
ROA (%) 9.78
7 P/S 5.64
Z-Score: ROC (Joel Greenblatt) (%) 24.12
6.03 PFCF 53.29
Revenue Growth (3Y)(%) 5.40
M-Score: POCF 16.94
-2.80 EBITDA Growth (3Y)(%) 11.00
EV-to-EBIT 20.37
WACC vs 5.12% EPS Growth (3Y)(%) 16.40
ROIC 14.45% PEG 3.57
WACC
ROIC Shiller P/E 33.48
Current Ratio 2.59
Quick Ratio 2.37
Days Inventory 24.78
Days Sales Outstanding 52.55
Warning Signs Quarterly Revenues Company Description
Dividend Yield %: Close to Mar Jun Sep Dec Full Year Since its founding in 1940, Air Products has become one of the leading industrial gas suppliers globally, with
operations in 50 countries and 19,000 employees. The company is the largest supplier of hydrogen and helium in the
10-year low 2016 1,777 1,915 1,946 1,883 7,520 world. It has a unique portfolio serving customers in a number of industries, including chemicals, energy, healthcare,
2017 1,980 2,122 2,203 2,217 8,522 metals, and electronics. Air Products generated $8.9 billion in revenue in fiscal 2019.... (Read More)
Price: Close to 10-year high , , , , , , ,
2018 2,156 2,259 2,299 2,224 8,938 Competitors: XTER:BAS TSE:4063 SAU:2010 XPAR:AI NYSE:DD NYSE:DOW XKRX:051910
SHSE:600309, TPE:1301, TPE:1303, TPE:1326, OCSE:NZYM B, NYSE:CE, TSE:3407, XKLS:5183, XBRU:SOLB,
PS Ratio: Close to 10-year 2019 2,188 2,224 2,283 2,255 8,950 TSE:4188, NYSE:EMN, SZSE:002493, SHSE:600989
high 2020
Insider Trades
Quarterly Earnings per Share
Good Signs Mar Jun Sep Dec Full Year
Piotroski F-Score: High 2016 -2.19 1.59 1.80 1.37 2.57
2017 9.70 0.46 2.13 0.70 12.99
Operating Margin %: 2018 1.89 2.15 2.05 1.57 7.66
Expansion 2019 1.90 2.20 2.27 2.14 8.51
PE Ratio: Close to 1-year low 2020
Insider Buy: Insider Buying Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.86 0.86 0.86 0.86 3.44
2017 0.95 0.95 0.95 0.95 3.80
GuruFocus does not 2018 1.10 1.10 1.10 1.10 4.40
calculate intrinsic value: DCF 2019 1.16 1.16 1.16 1.16 4.64
(Earnings Based) for 2020
companies with one star
predictability or not rated. But Growth Rate
you can go to each stock's Annual Rates(per share) 10-Y 5-Y 12-M
DCF page to calculate
Revenue Growth (%) -1.00 -1.40 -0.30
yourself.
EBITDA Growth (%) 4.10 7.60 13.70
Free Cash Flow Growth (%) 18.90 -4.10 2.80
Reverse DCF
Book Value Growth (%) 7.80 10.10 5.70
GuruFocus does not
calculate reverse DCF growth EPS Growth (%) 6.20 12.20 14.10
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/APD 1/7
Per Share Data
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
30.72 33.57 38.47 40.99 47.51 38.67 39.69 44.46 44.77 47.95 48.51 36.01 34.37 37.25 40.45 40.25 40.33 Revenue per Share
6.92 7.35 7.97 9.93 11.45 8.43 10.23 11.47 10.61 11.30 11.37 10.25 11.56 10.93 14.11 15.84 16.41 EBITDA per Share
3.87 4.30 4.64 6.16 7.49 4.49 6.42 7.64 6.69 7.03 6.93 6.30 7.65 6.99 9.72 10.95 11.39 EBIT per Share
0.03 0.03 3.18 4.64 4.15 2.96 4.74 5.63 5.44 4.68 4.61 5.88 2.89 13.65 6.78 7.94 8.51 Earnings per Share (diluted)
0.03 0.03 3.23 4.57 4.97 3.00 4.34 5.22 4.66 4.73 4.62 4.29 5.04 5.16 6.59 7.94 8.51 eps without NRI
2.67 3.31 3.15 3.78 4.31 2.41 3.32 5.54 5.14 2.51 2.83 5.27 1.93 12.94 6.17 7.98 8.19 Owner Earnings per Share (TTM)
1.75 1.96 0.38 1.98 2.71 0.70 2.46 2.04 1.29 0.20 3.83 6.02 8.03 2.38 4.38 4.42 4.27 Free Cashflow per Share
1.04 1.25 1.34 1.48 1.70 1.79 1.92 2.23 2.50 2.77 3.02 3.20 3.39 3.71 4.25 4.58 4.64 Dividends per Share
19.55 20.47 22.67 25.52 24.03 22.68 25.94 27.58 30.48 33.35 34.49 33.66 32.57 46.19 49.46 50.15 52.37 Book Value per Share
15.45 16.07 17.62 18.66 18.22 17.10 20.33 22.55 19.38 22.12 25.82 26.05 26.90 41.20 43.87 44.63 46.78 Tangible Book per Share
10.53 11.23 13.12 17.04 18.95 21.31 19.31 21.70 24.91 29.71 28.65 27.30 23.98 18.15 17.37 15.09 15.14 Total Debt per Share
50.27 50.98 61.36 90.38 63.32 71.72 76.57 70.60 76.46 98.52 120 118 139 151 167 222 227 Month End Stock Price
Ratios
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
14.69 15.83 15.28 19.88 17.28 12.85 19.91 21.59 19.02 14.71 13.77 17.49 8.81 34.96 14.30 16.06 16.84 Return on Equity %
6.19 6.96 6.70 8.69 7.21 4.93 7.76 8.81 7.47 5.72 5.57 7.28 3.57 16.44 7.96 9.23 9.78 Return on Assets %
13.82 15.50 16.18 19.47 22.32 13.22 18.83 21.36 17.05 16.25 14.96 13.93 18.33 17.66 23.29 23.51 24.12 Return on Capital %
9.80 10.46 10.39 12.52 12.29 7.33 11.02 11.98 11.02 9.67 9.13 8.02 9.62 13.49 12.94 14.11 14.45 Return on Invested Capital %
7.48 6.72 7.80 7.32 8.36 8.74 8.23 7.29 6.95 8.45 9.00 8.70 7.25 7.84 8.32 5.78 5.12 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 4.24 2.88 2.83 2.66 2.51 2.45 2.02 1.71 2.08 2.63 3.36 3.84 3.28 Effective Interest Rate on Debt %
27.55 27.21 26.05 26.77 26.13 26.82 27.01 26.62 26.63 26.60 26.91 28.45 31.00 29.75 30.69 33.00 33.87 Gross Margin %
12.61 12.81 12.06 15.04 14.36 10.25 15.48 15.97 15.80 15.06 15.78 17.70 21.49 21.81 22.01 24.33 25.11 Operating Margin %
8.59 9.16 8.26 11.32 8.73 7.65 11.94 12.65 12.14 9.77 9.50 16.33 8.41 36.65 16.77 19.73 21.10 Net Margin %
5.68 5.83 0.99 4.84 5.71 1.82 6.19 4.59 2.89 0.42 7.90 16.71 23.36 6.38 10.82 10.99 10.59 FCF Margin %
0.54 0.55 0.58 0.67 0.79 0.94 0.74 0.79 0.82 0.89 0.83 0.81 0.74 0.39 0.35 0.30 0.29 Debt to Equity
0.44 0.44 0.44 0.43 0.40 0.37 0.41 0.41 0.38 0.40 0.41 0.42 0.39 0.55 0.57 0.58 0.59 Total Equity to Total Asset
0.24 0.24 0.26 0.29 0.32 0.35 0.31 0.32 0.31 0.35 0.34 0.34 0.29 0.22 0.20 0.18 0.17 Total Debt to Total Asset
19.85 20.67 21.13 20.55 21.57 17.30 17.54 18.53 16.39 15.57 15.77 12.68 13.16 13.35 14.56 15.44 15.71 Gross Profit to Total Asset %
0.72 0.76 0.81 0.77 0.83 0.65 0.65 0.70 0.62 0.59 0.59 0.45 0.42 0.45 0.47 0.47 0.46 Asset Turnover
39.39 40.58 0.42 0.32 0.34 0.60 0.44 0.43 0.54 0.59 0.65 0.75 0.67 0.72 0.65 0.58 0.55 Dividend Payout Ratio
75.51 68.28 72.62 62.98 55.21 60.27 62.78 51.37 58.66 55.37 51.96 65.60 55.75 52.34 49.34 51.57 52.55 Days Sales Outstanding
94.54 87.31 93.34 84.50 56.05 101 98.78 40.81 52.01 50.09 35.43 40.55 40.81 41.85 35.06 31.72 101 Days Accounts Payable
35.43 30.96 26.67 26.67 27.10 39.19 35.22 31.93 37.70 36.46 33.78 44.46 32.18 18.73 21.57 23.96 24.78 Days Inventory
16.40 11.93 5.95 5.15 26.26 -1.71 -0.78 42.49 44.35 41.74 50.31 69.51 47.12 29.22 35.85 43.81 -23.20 Cash Conversion Cycle
10.30 11.79 13.69 13.69 13.47 9.31 10.36 11.43 9.68 10.01 10.81 8.21 11.34 19.48 16.92 15.24 14.73 Inventory Turnover
0.72 0.73 0.74 0.73 0.74 0.73 0.73 0.73 0.73 0.73 0.73 0.72 0.69 0.70 0.69 0.67 0.66 COGS to Revenue
0.07 0.06 0.05 0.05 0.06 0.08 0.07 0.06 0.08 0.07 0.07 0.09 0.06 0.04 0.04 0.04 0.05 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/APD 2/7
Income Statement
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
7,032 7,768 8,753 9,148 10,415 8,256 8,616 9,674 9,612 10,180 10,439 7,824 7,504 8,188 8,930 8,919 8,950 Revenue
5,095 5,655 6,472 6,699 7,693 6,042 6,289 7,098 7,052 7,472 7,630 5,598 5,177 5,752 6,190 5,976 5,918 Cost of Goods Sold
1,937 2,114 2,280 2,449 2,721 2,214 2,327 2,575 2,560 2,708 2,809 2,226 2,326 2,436 2,741 2,943 3,032 Gross Profit
27.55 27.21 26.05 26.77 26.13 26.82 27.01 26.62 26.63 26.60 26.91 28.45 31.00 29.75 30.69 33.00 33.87 Gross Margin %
956 1,014 1,075 1,000 1,121 1,252 898 942 947 1,089 1,060 792 684 714 761 750 762 Selling, General, & Admin. Expense
126 132 151 129 131 116 115 119 126 134 140 76.40 71.80 57.60 64.50 72.90 75.60 Research & Development
-31.50 -27.60 -1.60 -55.10 -25.80 -0.80 -19.10 -30.00 -32.20 -47.00 -38.60 -27.60 -41.70 -121 -50.20 -49.30 -53.00 Other Operating Expense
886 996 1,056 1,376 1,496 846 1,334 1,545 1,519 1,533 1,648 1,385 1,613 1,786 1,966 2,170 2,247 Operating Income
12.61 12.81 12.06 15.04 14.36 10.25 15.48 15.97 15.80 15.06 15.78 17.70 21.49 21.81 22.01 24.33 25.11 Operating Margin %
-- -- -- -- -- -- 3.40 5.70 5.40 6.40 9.40 4.20 6.10 1.50 -- -- -- Interest Income
-- -- -- -- -162 -122 -122 -116 -124 -142 -125 -103 -115 -121 -131 -137 -118 Interest Expense
-- -- -- -- -162 -122 -119 -110 -118 -135 -116 -98.60 -109 -121 -131 -137 -118 Net Interest Income
-28.10 -4.60 -11.60 -48.00 145 112 57.70 112 -88.00 -47.00 -167 -20.30 51.20 -249 180 257 282 Other Income (Expense)
-20.70 -22.70 -29.80 -20.80 -23.00 -11.40 -25.40 -37.30 -26.00 -38.30 -1.40 -39.70 -30.40 -20.80 -35.10 -49.40 -53.20 Other Income (Minority Interest)
858 991 1,044 1,328 1,479 837 1,273 1,547 1,313 1,350 1,365 1,266 1,555 1,416 2,015 2,290 2,410 Pre-Tax Income
-229 -261 -269 -287 -365 -185 -306 -375 -287 -308 -369 -300 -433 -261 -524 -480 -469 Tax Provision
26.70 26.31 25.78 21.63 24.70 22.15 24.02 24.26 21.89 22.80 27.05 23.71 27.83 18.42 26.02 20.97 19.45 Tax Rate %
608 708 745 1,020 1,091 651 967 1,172 1,025 1,043 996 966 1,122 1,155 1,491 1,809 1,941 Net Income (Continuing Operations)
-4.30 4.20 -15.50 16.00 -181 -8.60 87.50 89.90 168 -10.00 -2.90 352 -461 1,866 42.20 -- -- Net Income (Discontinued
Operations)
604 712 723 1,036 910 631 1,029 1,224 1,167 994 992 1,278 631 3,000 1,498 1,760 1,888 Net Income
8.59 9.16 8.26 11.32 8.73 7.65 11.94 12.65 12.14 9.77 9.50 16.33 8.41 36.65 16.77 19.73 21.10 Net Margin %
0.03 0.03 3.26 4.79 4.29 3.01 4.85 5.75 5.53 4.74 4.66 5.95 2.92 13.76 6.83 7.99 8.55 EPS (Basic)
0.03 0.03 3.18 4.64 4.15 2.96 4.74 5.63 5.44 4.68 4.61 5.88 2.89 13.65 6.78 7.94 8.51 EPS (Diluted)
229 231 228 223 219 214 217 218 215 212 215 217 218 220 221 222 222 Shares Outstanding (Diluted
Average)
697 706 757 840 869 840 827 834 841 907 957 859 855 866 971 1,083 1,114 Depreciation, Depletion and
Amortization
1,584 1,702 1,813 2,216 2,510 1,799 2,221 2,497 2,277 2,399 2,447 2,227 2,524 2,403 3,116 3,509 3,642 EBITDA
Balance Sheet
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
146 55.80 35.20 40.50 104 488 374 421 454 450 337 206 1,293 3,274 2,791 2,249 2,406 Cash And Cash Equivalents
-- -- -- -- -- -- -- -- -- -- -- -- -- 404 185 166 -- Marketable Securities
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/APD 3/7
146 55.80 35.20 40.50 104 488 374 421 454 450 337 206 1,293 3,678 2,976 2,415 2,406 Cash, Cash Equivalents, Marketable
Securities
1,455 1,453 1,741 1,579 1,575 1,363 1,482 1,362 1,545 1,544 1,486 1,406 1,146 1,174 1,207 1,260 1,289 Accounts Receivable
166 152 -- -- 184 151 208 259 220 235 283 229 117 223 250 232 244 Inventories, Raw Materials &
Components
12.60 18.70 -- -- 22.40 20.90 29.30 29.90 36.70 38.70 34.10 34.40 18.30 15.70 21.20 27.50 29.80 Inventories, Work In Process
-53.70 -55.60 -- -- -67.30 -67.90 -71.20 -95.80 -88.00 -94.80 -105 -101 -11.70 -23.30 -- -- -- Inventories, Inventories
Adjustments
381 338 -- -- 365 406 405 477 618 527 494 495 131 120 125 129 127 Inventories, Finished Goods
-0.00 0.00 492 487 152 132 0.00 -- 0.00 -- -- -- -0.00 -- -- -- -- Inventories, Other
506 454 492 487 656 642 572 670 787 706 706 658 255 335 396 388 401 Total Inventories
239 183 87.20 513 164 99.70 234 456 251 315 343 161 1,288 324 333 400 98.30 Other Current Assets
2,417 2,415 2,613 2,858 2,848 2,998 3,034 3,190 3,416 3,439 3,295 2,794 4,317 5,877 5,082 4,618 4,720 Total Current Assets
-- -- -- -- 823 868 913 1,012 1,176 1,196 1,258 1,266 1,284 1,287 1,277 1,276 1,340 Investments And Advances
166 172 181 -- -- 169 172 173 216 241 237 226 203 231 269 282 -- Land And Improvements
790 806 823 -- -- 876 886 914 1,033 1,076 1,105 1,080 919 978 989 947 -- Buildings And Improvements
10,843 10,874 3,127 -- 14,989 13,783 14,562 14,536 15,778 16,919 17,119 16,783 16,213 17,521 19,484 20,094 -- Machinery, Furniture, Equipment
403 694 377 -- -- 924 689 1,236 1,020 1,294 1,763 1,374 1,326 818 749 1,011 -- Construction In Progress
12,202 12,546 13,520 14,600 14,989 15,751 16,310 16,859 18,046 19,530 20,224 19,463 18,660 19,548 21,490 22,334 23,100 Gross Property, Plant and Equipment
-6,499 -6,768 -7,409 -7,997 -8,374 -8,892 -9,258 -9,636 -9,806 -10,556 -10,691 -10,718 -10,401 -11,108 -11,567 -11,996 -12,408 Accumulated Depreciation
5,702 5,778 6,112 6,604 6,615 6,860 7,051 7,223 8,241 8,974 9,532 8,745 8,260 8,440 9,924 10,338 10,692 Property, Plant and Equipment
932 977 1,097 1,476 1,218 1,179 1,200 1,057 2,360 2,371 1,853 1,640 1,233 1,090 1,227 1,217 1,232 Intangible Assets
-- 881 984 1,200 928 916 915 796 1,598 1,654 1,237 1,131 845 722 789 797 816 Goodwill
989 1,239 1,360 1,721 1,068 1,125 1,308 1,810 1,750 1,870 1,841 2,891 2,935 1,774 1,668 1,494 1,668 Other Long Term Assets
10,040 10,409 11,181 12,660 12,571 13,029 13,506 14,291 16,942 17,850 17,779 17,335 18,029 18,467 19,178 18,943 19,652 Total Assets
1,320 1,353 1,655 1,551 1,181 1,675 1,702 794 1,005 1,026 741 622 579 660 595 519 1,630 Accounts Payable
-- -- -- -- -- 42.90 73.60 65.00 48.50 63.00 78.00 55.80 118 98.60 59.60 86.60 113 Total Tax Payable
1,426 1,471 1,754 1,660 1,753 1,718 1,776 1,403 1,762 1,792 1,366 1,362 1,290 1,356 1,633 1,358 1,743 Accounts Payable & Accrued
Expense
280 447 570 694 451 786 469 634 708 1,217 1,294 1,930 1,301 560 461 98.60 75.60 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 136 155 163 172 195 371 439 157 247 -- Current Deferred Revenue
-- -- -- -- -- -- -- 136 155 163 172 195 371 439 157 247 -- DeferredTaxAndRevenue
-- 25.40 -- 68.80 8.00 -- -- 169 64.90 55.50 131 158 321 134 88.30 117 -- Other Current Liabilities
1,706 1,943 2,323 2,423 2,212 2,504 2,244 2,342 2,690 3,228 2,963 3,644 3,283 2,489 2,338 1,821 1,819 Total Current Liabilities
2,114 2,047 2,280 2,977 3,515 3,716 3,660 3,928 4,584 5,056 4,825 3,949 3,910 3,402 3,352 3,227 3,266 Long-Term Debt
2,114 2,047 2,280 2,977 3,515 3,716 3,660 3,928 4,584 5,056 4,825 3,949 3,910 3,402 3,352 3,227 3,266 Long-Term Debt & Capital Lease
Obligation
0.54 0.55 0.58 0.67 0.79 0.94 0.74 0.79 0.82 0.89 0.83 0.81 0.74 0.39 0.35 0.30 0.29 Debt to Equity
-- -- -- -- -- -- -- 1,116 1,465 802 800 1,043 1,334 860 464 687 -- PensionAndRetirementBenefit
788 835 833 706 1,676 358 335 593 704 858 1,053 939 754 817 833 843 811 NonCurrent Deferred Liabilities
169 181 178 177 136 138 151 143 146 157 156 132 134 99.30 319 335 374 Minority Interest
820 858 642 882 1.20 1,522 1,569 374 876 707 618 378 1,534 713 1,015 976 1,827 Other Long-Term Liabilities
5,428 5,682 6,079 6,987 7,404 8,099 7,808 8,352 10,319 10,651 10,258 9,953 10,815 8,282 8,002 7,555 7,722 Total Liabilities
249 249 249 249 249 249 249 249 249 249 249 249 249 249 249 249249 Common Stock
4,887 5,317 5,744 6,459 6,990 7,235 7,852 8,600 9,235 9,646 9,993 10,580 10,476 12,847 13,410 14,138 14,357 Retained Earnings
-480 -433 -222 -143 -549 -1,162 -1,159 -1,253 -1,349 -1,021 -1,242 -2,126 -2,388 -1,847 -1,742 -2,376 -2,089 Accumulated other comprehensive
income (loss)
552 574 683 760 812 823 802 806 811 799 842 905 970 1,001 1,029 1,071 1,062 Additional Paid-In Capital
-765 -1,162 -1,530 -1,829 -2,471 -2,353 -2,198 -2,605 -2,468 -2,632 -2,477 -2,360 -2,227 -2,164 -2,089 -2,030 -2,023 Treasury Stock
4,444 4,546 4,924 5,496 5,031 4,792 5,547 5,796 6,477 7,042 7,366 7,249 7,080 10,086 10,858 11,054 11,556 Total Equity
0.44 0.44 0.44 0.43 0.40 0.37 0.41 0.41 0.38 0.40 0.41 0.42 0.39 0.55 0.57 0.58 0.59 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/APD 4/7
Cashflow Statement
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
604 712 723 1,036 804 631 942 1,134 999 1,004 995 933 1,100 1,134 1,456 1,760 1,888 Net Income
604 712 723 1,036 804 631 942 1,134 999 1,004 995 933 1,100 1,134 1,456 1,760 1,888 Net Income From Continuing
Operations
697 706 757 840 869 840 827 834 841 907 957 859 855 866 971 1,083 1,114 Depreciation, Depletion and
Amortization
-239 -75.20 -158 -83.50 -218 147 -69.70 -45.80 -73.40 -72.20 -35.70 8.20 -51.50 31.80 85.50 10.80 76.40 Change In Receivables
-31.00 -10.50 -41.60 -0.30 -34.90 -17.70 -62.90 -108 1.30 75.00 -23.50 38.00 32.20 6.40 -64.20 -3.00 -1.00 Change In Inventory
-- -- -12.50 -52.20 -- -- -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
-12.50 -70.90 103 -218 36.20 -283 -281 -29.80 250 -130 -238 135 60.10 164 -278 -41.80 -102 Change In Payables And Accrued
Expense
-289 -133 -163 -357 -139 -46.70 -363 -115 100 -208 -250 256 21.20 48.00 -265 -25.30 -117 Change In Working Capital
96.10 42.80 7.80 14.00 36.90 -52.30 89.10 186 6.90 12.80 126 9.40 61.80 -38.00 185 107 86.20 Change In DeferredTax
-- -- -- -- 61.40 60.40 48.60 44.80 43.80 43.50 44.00 39.50 31.00 39.90 38.80 41.20 45.80 Stock Based Compensation
-25.60 7.60 -27.60 -56.50 -476 -222 -58.50 -374 -306 -307 9.00 -89.90 191 168 162 4.20 -35.60 Cash Flow from Others
1,086 1,376 1,346 1,497 1,680 1,329 1,522 1,753 1,799 1,567 2,187 2,470 2,661 1,562 2,534 2,970 2,982 Cash Flow from Operations
-687 -923 -1,259 -1,055 -1,085 -1,179 -989 -1,309 -1,521 -1,524 -1,363 -1,162 -908 -1,040 -1,568 -1,990 -2,034 Purchase Of Property, Plant,
Equipment
46.10 59.70 215 97.40 19.60 57.90 52.40 -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -74.20 -57.20 -112 -56.60 -1,039 -225 -- -38.80 -- -16.30 -345 -139 -146 Purchase Of Business
-- -- -- -- -- 51.00 -- 94.70 -- 1.30 2.00 -- -- -- -- -- -- Sale Of Business
-- -- -22.50 -0.20 -2.20 -- -69.60 -- -- -- -- -- -- -2,693 -530 -172 -5.30 Purchase Of Investment
-- -- -- -- 423 51.00 -- 176 -- -- -- -- -- 2,291 748 191 190 Sale Of Investment
-18.90 -6.50 200 -5.50 423 -- -42.20 -42.40 765 -1.20 -312 -453 -204 3,751 18.60 -- -- Cash From Discontinued Investing
Activities
-103 -104 -79.90 -520 -624 36.00 103 -74.90 125 50.80 44.20 54.50 42.90 45.90 54.30 -3.20 -157 Cash From Other Investing Activities
-763 -973 -947 -1,483 -920 -1,040 -1,057 -1,212 -1,670 -1,698 -1,628 -1,600 -1,069 2,339 -1,623 -2,113 -2,148 Cash Flow from Investing
146 138 103 203 87.40 -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -500 -482 -575 -793 -- -- -649 -53.10 -462 -- -- -- -- -- -- -- Repurchase of Stock
-184 146 239 612 306 405 -284 457 420 927 3.50 -73.90 -238 -1,280 -497 -425 -397 Net Issuance of Debt
-219 -276 -294 -312 -349 -373 -399 -457 -515 -566 -628 -678 -721 -788 -898 -994 -1,008 Cash Flow for Dividends
-- -- 11.70 57.70 139 63.40 103 164 70.00 215 -37.20 -226 655 96.60 34.70 48.20 54.50 Other Financing
-257 -493 -423 -14.90 -699 95.00 -580 -485 -78.40 115 -661 -977 -304 -1,971 -1,360 -1,371 -1,351 Cash Flow from Financing
70.10 -90.50 -20.60 7.10 63.00 385 -114 48.20 31.90 -4.00 -114 -130 1,295 1,943 -482 -543 -517 Net Change in Cash
-687 -923 -1,259 -1,055 -1,085 -1,179 -989 -1,309 -1,521 -1,524 -1,363 -1,162 -908 -1,040 -1,568 -1,990 -2,034 Capital Expenditure
399 453 87.00 442 595 150 534 444 278 43.20 824 1,307 1,753 523 966 980 948 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/APD 5/7
Valuation Ratios
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
1,904 1,655 19.30 19.48 15.29 24.23 16.15 12.54 14.03 21.01 26.11 19.99 48.43 11.08 24.60 27.94 26.71 PE Ratio(TTM)
18.82 15.43 19.50 23.92 14.69 29.76 23.05 12.75 14.89 39.27 42.48 22.40 72.17 11.70 27.07 27.80 27.77 Price to Owner Earnings
(TTM)
2.57 2.49 2.71 3.54 2.63 3.16 2.95 2.56 2.51 2.95 3.49 3.50 4.27 3.28 3.38 4.42 4.33 Price to Book
3.25 3.17 3.48 4.84 3.48 4.19 3.77 3.13 3.95 4.45 4.66 4.53 5.17 3.67 3.81 4.97 4.86 Price to Tangible Book
28.91 25.93 156 45.53 23.25 104 31.16 34.39 59.09 490 31.47 19.62 17.33 63.67 38.17 50.21 53.29 Price-to-Free-Cash-Flow
Ratio
10.61 8.56 10.36 13.46 8.25 11.54 10.92 8.74 9.12 13.35 11.84 10.38 11.41 21.29 14.56 16.56 16.94 Price-to-Operating-Cash-
Flow Ratio
1.64 1.52 1.59 2.16 1.33 1.85 1.93 1.57 1.71 2.05 2.48 3.27 4.04 4.06 4.13 5.51 5.64 PS Ratio
-- -- 2.53 1.90 0.96 2.59 2.55 3.00 6.24 7.95 6.85 16.38 -- -- 12.55 3.66 3.57 PEG Ratio
1.97 1.79 1.86 2.50 1.66 2.34 2.35 1.96 2.21 2.63 3.03 3.99 4.57 4.08 4.24 5.62 5.75 EV-to-Revenue
8.74 8.19 9.01 10.63 6.87 10.73 9.13 7.57 9.32 11.16 12.93 14.02 13.57 13.91 12.14 14.29 14.13 EV-to-EBITDA
15.62 14.01 15.46 17.26 10.52 20.14 14.54 11.30 14.78 17.95 21.23 22.83 20.52 21.75 17.63 20.67 20.37 EV-to-EBIT
6.40 7.14 6.47 5.79 9.51 4.97 6.88 8.85 6.77 5.57 4.71 4.38 4.87 4.60 5.67 4.84 4.91 Return on Capital %
3.70 6.36 10.24 12.13 16.07 11.51 9.18 7.37 5.33 4.15 5.52 3.57 0.74 1.65 4.88 10.00 11.34 Forward Rate of Return
26.14 28.34 32.12 41.24 26.69 30.17 27.33 21.90 21.68 25.91 27.76 23.96 28.51 25.91 27.16 33.02 33.48 Shiller PE Ratio
2.07 2.45 2.18 1.64 2.68 2.50 2.51 3.16 3.27 2.81 2.51 2.71 2.44 2.45 2.54 2.06 2.05 Dividend Yield %
Valuation and Quality
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
11,427 11,323 13,331 19,467 13,255 15,152 16,371 14,839 16,246 20,805 25,699 25,402 30,210 33,044 36,670 48,901 50,180 Market Cap
13,843 13,942 16,323 23,274 17,255 19,303 20,276 19,122 21,230 26,785 31,637 31,206 34,261 33,429 37,825 50,147 51,489 Enterprise Value
50.27 50.98 61.36 90.38 63.32 71.72 76.57 70.60 76.46 98.52 120 118 139 151 167 222 227 Month End Stock Price
-23.98 -26.15 -28.64 -33.07 -35.53 -36.68 -35.48 -38.41 -47.11 -49.05 -47.19 -45.87 -44.42 -21.54 -24.35 -24.84 -25.78 Net Cash (per share)
-13.99 -15.53 -16.77 -19.99 -22.42 -24.80 -23.04 -25.24 -33.17 -34.89 -33.34 -33.86 -30.51 -11.47 -14.75 -14.84 -15.30 Net Current Asset Value
(per share)
-18.06 -20.22 -21.49 -26.45 -28.32 -30.32 -28.94 -31.96 -39.81 -41.89 -40.32 -39.45 -39.88 -16.74 -19.32 -19.67 -20.49 Net-Net Working Capital (per
share)
30.29 34.57 36.85 43.30 45.36 36.23 37.09 38.15 42.13 41.57 45.27 51.66 59.49 70.84 78.16 85.17 88.70 Projected FCF (per share)
47.61 53.18 62.61 67.92 77.53 63.12 66.57 76.93 76.85 84.00 87.28 66.96 67.24 76.80 85.89 104 110 Median PS (per share)
19.38 25.07 24.23 47.54 65.72 27.66 29.99 30.38 -- -- -- -- -- -- -- 60.66 78.12 Peter Lynch Fair Value (per
share)
3.03 3.34 35.78 43.81 45.13 33.98 44.56 51.46 45.07 48.52 51.80 50.14 55.23 69.16 80.65 89.29 94.65 Graham Number (per share)
5.07 1.93 1.54 -0.38 3.54 -1.84 2.17 0.06 -5.42 -18.05 -14.56 -16.21 -2.03 21.58 20.92 18.13 18.81 Earnings Power Value
(EPV)
3.01 3.03 3.16 3.52 3.13 2.82 3.12 3.05 2.61 2.79 3.18 3.04 3.28 4.31 4.73 6.00 6.03 Altman Z-Score
8.00 7.00 5.00 7.00 5.00 5.00 8.00 7.00 4.00 5.00 6.00 6.00 5.00 6.00 6.00 7.00 7.00 Piotroski F-Score
-2.56 -2.78 -2.59 -2.74 -2.82 -2.98 -2.50 -2.72 -2.42 -2.67 -2.80 -2.72 -3.24 -2.04 -2.75 -2.82 -2.80 Beneish M-Score
0.72 0.71 0.76 0.83 0.71 0.71 0.73 0.75 0.80 0.77 0.75 0.73 0.64 0.58 0.65 0.64 0.68 Scaled Net Operating
Assets
2.80 2.97 2.90 8.07 1.19 2.63 4.17 4.78 6.13 6.30 2.43 2.35 -5.33 -4.88 3.06 4.77 5.36 Sloan Ratio (%)
1.42 1.24 1.12 1.18 1.29 1.20 1.35 1.36 1.27 1.07 1.11 0.77 1.32 2.36 2.17 2.54 2.59 Current Ratio
1.12 1.01 0.91 0.98 0.99 0.94 1.10 1.08 0.98 0.85 0.87 0.59 1.24 2.23 2.00 2.32 2.37 Quick Ratio
50.85 60.22 64.00 90.43 98.03 74.15 78.31 90.41 85.68 102 126 146 146 152 174 232 257 Highest Stock Price
41.14 48.36 49.30 61.66 61.40 38.51 59.92 69.15 68.29 71.27 94.84 110 108 132 152 149 178 Lowest Stock Price
-0.02 2.29 2.19 0.86 2.81 -0.92 -1.20 1.69 -1.09 0.61 -1.12 -0.85 -0.92 -0.46 -0.54 -0.41 -0.48 Shares Buyback Ratio (%)
9.27 9.28 14.60 6.53 15.92 -18.61 2.63 12.02 0.70 7.11 1.16 -25.77 -4.54 8.37 8.58 -0.49 -0.31 YoY Rev. per Sh. Growth
(%)
-98.52 16.67 10,225 45.91 -10.56 -28.67 60.14 18.78 -3.37 -13.97 -1.50 27.55 -50.85 372 -50.33 17.11 11.10 YoY EPS Growth (%)
24.06 6.29 8.34 24.60 15.34 -26.42 21.45 12.14 -7.57 6.56 0.64 -9.87 12.82 -5.48 29.12 12.21 13.73 YoY EBITDA Growth (%)
0.10 2.71 7.50 10.29 13.25 9.22 6.91 4.42 2.63 2.62 3.83 1.22 -2.07 -1.02 2.02 7.64 7.60 EBITDA 5-Y Growth (%)
224 226 222 216 212 210 212 213 211 210 213 215 216 218 219 220 221 Shares Outstanding (Basic
Average)
227 222 217 215 209 211 214 210 212 211 214 215 217 218 220 220 221 Shares Outstanding (EOP)
0.83 0.65 0.79 0.65 1.15 1.20 1.21 1.15 1.11 1.24 1.38 1.40 1.12 1.06 0.98 0.72 0.69 Beta
12/13/04 11/22/05 12/13/06 11/28/07 11/26/08 11/25/09 11/23/10 11/22/11 11/20/12 11/26/13 11/24/14 11/24/15 11/21/16 11/16/17 11/20/18 11/26/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/APD 6/7
11/22/05 12/13/06 11/28/07 11/26/08 11/25/09 11/23/10 11/20/12 11/26/13 11/24/14 11/24/15 11/21/16 11/16/17 11/20/18 11/26/19 11/26/19 11/26/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/APD 7/7
Citrix Systems Inc (NAS:CTXS) 03/03/2020 2:00PM EST GuruFocus
Price: $ 105.99 -2.79(-2.56%) Market Cap: $ 12.97 B Enterprise Value: $13.33 B Stock PDF
Financial Strength : 6/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 20.85
Cash to Debt 0.62 Operating margin (%) 18.55
Forward P/E N/A
Equity to Asset 0.19 Net-margin (%) 22.65
PE(NRI) 20.85
Interest Coverage 12.15 ROE (%) 107.40
F-Score:
P/B 16.46
ROA (%) 15.05
7 P/S 4.76
Z-Score: ROC (Joel Greenblatt) (%) 138.29
4.75 PFCF 20.09
Revenue Growth (3Y)(%) 8.50
M-Score: POCF 18.38
-2.46 EBITDA Growth (3Y)(%) 4.80
EV-to-EBIT 24.00
WACC vs 5.38% EPS Growth (3Y)(%) 18.90
ROIC 69.84% PEG 1.93
WACC
ROIC Shiller P/E 43.65
Current Ratio 0.83
Quick Ratio 0.82
Days Inventory 16.10
Days Sales Outstanding 87.34
Warning Signs Quarterly Revenues Company Description
Tax Rate: Tax Rate is too low Mar Jun Sep Dec Full Year Citrix Systems provides virtualization software, including Virtual Apps and Desktops for desktop virtualization and Citrix
Virtual Apps for application virtualization. The company also provides Citrix Endpoint Management for mobile device
2016 659 674 669 735 2,736 management and Citrix ADC for application delivery and Citrix SD-WAN for routing, security, and WAN monitoring....
Insider Sell: Insider Selling
2017 663 693 691 778 2,825 (Read More)
, , , , , , ,
2018 697 742 732 802 2,974 Competitors: NAS:TTD NAS:LYFT NAS:DDOG SZSE:002230 NYSE:TYL SHSE:688111 NYSE:WORK
TSX:OTEX, NAS:DOCU, NAS:SSNC, NAS:STNE, NYSE:FICO, SHSE:600570, TSE:4684, XSWX:TEMN,
Good Signs 2019 719 749 733 810 3,011 SHSE:600588, SZSE:300033, XTAE:NICE, TSE:4716, LSE:SGE
2020
Piotroski F-Score: High Insider Trades
Quarterly Earnings per Share
Revenue per Share:
Consistent growth Mar Jun Sep Dec Full Year
2016 0.54 0.77 0.84 1.26 3.41
Operating Margin %: 2017 0.17 0.70 0.82 -1.93 -0.24
Expansion 2018 0.99 0.73 1.08 1.15 3.95
PE Ratio: Close to 10-year 2019 0.78 0.70 2.04 1.56 5.08
low 2020
PB Ratio: Close to 2-year low Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.00 0.00 0.00 0.00 0.00
2017 0.00 0.00 0.00 0.00 0.00
EPS without NRI: $5.08 2018 0.00 0.00 0.00 0.35 0.35
Growth Rate in the next 10 2019 0.35 0.35 0.35 0.35 1.40
years: 5% 2020
Terminal Growth Rate for 10
years: 4% Growth Rate
Fair Value: $54.36 Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 9.00 4.80 9.00
Reverse DCF EBITDA Growth (%) 10.80 11.10 -5.80
Expected eps Growth Rate: Free Cash Flow Growth (%) 10.80 5.10 -19.90
15.30% Book Value Growth (%) -9.00 -9.00 51.10
EPS Growth (%) 4.40 19.80 27.70
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTXS 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Revenue per Share
4.24 5.11 6.04 7.43 8.48 8.73 9.85 11.57 13.67 15.50 18.35 16.50 17.42 18.17 20.38 22.22 22.29
1.21 1.59 1.43 1.59 1.72 1.80 2.42 3.02 3.31 3.48 3.70 3.34 4.78 4.96 5.84 5.50 5.53 EBITDA per Share
1.02 1.28 1.09 1.13 1.06 1.05 1.69 2.19 2.17 2.06 1.78 1.30 3.65 3.87 4.86 4.10 4.11 EBIT per Share
0.75 0.93 0.97 1.14 0.96 1.03 1.46 1.87 1.86 1.80 1.47 1.99 3.41 -0.13 3.94 5.03 5.08 Earnings per Share (diluted)
0.75 0.93 0.97 1.14 0.96 1.03 1.46 1.87 1.86 1.80 1.47 1.34 2.99 0.14 3.94 5.03 5.08 eps without NRI
0.94 1.19 1.35 1.25 1.47 1.77 2.43 2.71 3.08 3.41 3.15 3.99 4.38 3.88 4.39 2.68 2.68 Owner Earnings per Share (TTM)
1.38 1.50 1.47 1.79 1.29 2.19 2.75 2.89 3.53 4.00 3.89 5.78 6.40 5.27 6.60 5.29 5.27 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.35 1.40 1.40 Dividends per Share
5.43 6.88 8.15 9.81 10.65 11.99 13.62 14.70 16.75 18.11 13.52 12.83 17.20 6.91 4.26 6.43 6.43 Book Value per Share
2.80 2.75 3.91 3.60 4.13 5.89 7.75 6.18 5.62 5.68 -0.09 -1.77 5.94 -5.32 -10.73 -8.21 -8.21 Tangible Book per Share
-- 0.18 -- -- -- -- -- -- -- -- 8.04 8.52 8.63 14.80 14.44 7.31 7.31 Total Debt per Share
19.48 22.88 21.54 30.27 18.77 33.14 54.48 48.35 52.26 50.37 50.81 60.24 71.12 88.00 102 111 106 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.12 15.55 13.66 12.99 9.49 9.30 11.69 13.49 12.05 10.54 9.16 15.40 23.00 -1.13 74.18 97.59 107 Return on Equity %
10.00 11.14 9.83 9.41 6.82 6.60 8.16 9.13 7.93 6.78 4.69 5.82 9.04 -0.34 10.51 14.32 15.05 Return on Assets %
264 319 246 187 101 77.41 129 158 141 121 86.04 56.29 180 234 286 163 138 Return on Capital %
24.12 23.48 18.04 16.33 11.91 13.79 16.36 18.84 16.05 13.95 11.42 18.93 22.87 1.34 48.37 60.86 69.84 Return on Invested Capital %
19.73 17.90 13.99 10.89 6.70 10.02 9.74 11.18 13.32 16.53 12.85 9.42 10.73 10.77 8.46 6.01 5.38 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- -- -- 4.38 3.39 3.38 2.97 3.98 3.23 3.35 Effective Interest Rate on Debt %
97.26 95.47 91.30 90.11 88.94 88.40 87.61 86.69 84.37 82.77 80.27 82.09 85.20 84.44 85.41 84.59 84.59 Gross Margin %
24.03 25.12 18.01 15.25 10.81 12.71 17.16 18.90 15.11 13.05 10.47 13.93 22.94 22.78 23.36 18.55 18.55 Operating Margin %
17.75 18.30 16.13 15.41 11.26 11.83 14.78 16.15 13.63 11.63 8.01 12.07 19.59 -0.73 19.36 22.65 22.65 Net Margin %
32.50 29.36 24.39 24.06 15.20 25.06 27.96 25.01 25.82 25.81 21.22 35.00 36.73 29.03 32.37 23.79 23.79 FCF Margin %
-- 0.03 -- -- -- -- -- -- -- -- 0.60 0.66 0.50 2.14 3.39 1.14 1.14 Debt to Equity
0.72 0.72 0.72 0.73 0.71 0.71 0.69 0.67 0.65 0.64 0.39 0.36 0.42 0.17 0.11 0.19 0.19 Total Equity to Total Asset
-- 0.02 -- -- -- -- -- -- -- -- 0.24 0.24 0.21 0.37 0.37 0.22 0.22 Total Debt to Total Asset
54.80 58.12 55.63 55.02 53.86 49.32 48.34 49.03 49.06 48.27 47.05 39.57 39.32 39.07 46.37 53.47 56.19 Gross Profit to Total Asset %
0.56 0.61 0.61 0.61 0.61 0.56 0.55 0.57 0.58 0.58 0.59 0.48 0.46 0.46 0.54 0.63 0.66 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.09 0.28 0.28 Dividend Payout Ratio
53.38 57.04 65.96 59.23 53.32 68.95 73.67 80.14 89.05 81.90 78.32 92.32 90.87 92.07 84.49 87.34 87.34 Days Sales Outstanding
316 297 167 147 97.27 112 103 72.15 64.23 56.95 47.01 73.45 65.56 55.54 63.57 66.49 66.49 Days Accounts Payable
-- 17.42 19.51 21.55 21.73 19.38 12.29 9.63 8.68 9.01 7.86 8.91 10.39 10.97 15.07 14.87 16.10 Days Inventory
-262 -222 -81.75 -66.66 -22.22 -23.43 -17.51 17.62 33.50 33.96 39.17 27.78 35.70 47.50 35.99 35.72 36.95 Cash Conversion Cycle
-- 20.95 18.71 16.94 16.80 18.83 29.69 37.92 42.03 40.50 46.42 40.98 35.14 33.26 24.22 24.55 22.67 Inventory Turnover
0.03 0.05 0.09 0.10 0.11 0.12 0.12 0.13 0.16 0.17 0.20 0.18 0.15 0.16 0.15 0.15 0.15 COGS to Revenue
-- 0.00 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTXS 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
741 909 1,134 1,392 1,583 1,614 1,875 2,206 2,586 2,918 3,143 2,646 2,736 2,825 2,974 3,011 3,011 Revenue
20.30 41.20 98.70 138 175 187 232 294 404 503 620 474 405 440 434 464 464 Cost of Goods Sold
721 868 1,036 1,254 1,408 1,427 1,642 1,913 2,182 2,416 2,523 2,172 2,331 2,385 2,540 2,547 2,547 Gross Profit
97.26 95.47 91.30 90.11 88.94 88.40 87.61 86.69 84.37 82.77 80.27 82.09 85.20 84.44 85.41 84.59 84.59 Gross Margin %
444 519 659 820 926 919 945 1,099 1,306 1,477 1,600 1,292 1,293 1,309 1,390 1,453 1,453 Selling, General, & Admin. Expense
86.36 109 155 205 288 282 361 381 451 516 554 481 395 416 440 519 519 Research & Development
12.33 11.62 16.93 17.39 22.72 20.97 14.28 16.39 34.55 41.67 39.58 30.34 15.08 17.19 15.85 15.89 15.89 Other Operating Expense
178 228 204 212 171 205 322 417 391 381 329 369 628 643 695 558 558 Operating Income
24.03 25.12 18.01 15.25 10.81 12.71 17.16 18.90 15.11 13.05 10.47 13.93 22.94 22.78 23.36 18.55 18.55 Operating Margin %
-- -- -- -- 31.51 14.68 14.58 13.82 10.15 8.19 9.42 11.68 16.69 27.81 40.03 18.28 18.28 Interest Income
-- -- -- -- -0.44 -0.43 -0.46 -- -0.31 -0.13 -28.33 -44.15 -44.95 -51.61 -80.16 -45.97 -45.97 Interest Expense
-- -- -- -- 31.06 14.26 14.58 13.82 9.84 8.07 -18.91 -32.48 -28.26 -23.80 -40.13 -27.69 -27.69 Net Interest Income
-13.66 -2.75 38.74 38.70 -5.28 -25.52 -2.44 -0.31 9.61 -0.89 -34.44 -172 -71.53 -69.22 -25.10 -21.17 -21.17 Other Income (Expense)
-- -- -- -- -- -- 0.62 0.69 -- -- -- -- -- -- -- -- -- Other Income (Minority Interest)
164 226 243 251 197 194 334 430 410 388 276 165 528 550 629 510 510 Pre-Tax Income
-32.89 -59.17 -60.08 -36.43 -18.65 -2.88 -57.38 -74.87 -57.68 -48.37 -23.98 50.55 -57.92 -528 -53.79 172 172 Tax Provision
20.00 26.24 24.72 14.52 9.47 1.48 17.19 17.39 14.06 12.47 8.70 -30.71 10.97 96.01 8.55 -33.82 -33.82 Tax Rate %
132 166 183 214 178 191 276 356 353 340 252 215 470 21.99 576 682 682 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -- -- -- -- 104 66.26 -42.70 -- -- -- Net Income (Discontinued
Operations)
132 166 183 214 178 191 277 356 353 340 252 319 536 -20.72 576 682 682 Net Income
17.75 18.30 16.13 15.41 11.26 11.83 14.78 16.15 13.63 11.63 8.01 12.07 19.59 -0.73 19.36 22.65 22.65 Net Margin %
0.78 0.96 1.01 1.18 0.97 1.05 1.49 1.90 1.89 1.82 1.48 2.01 3.46 -0.13 4.23 5.21 5.22 EPS (Basic)
0.75 0.93 0.97 1.14 0.96 1.03 1.46 1.87 1.86 1.80 1.47 1.99 3.41 -0.13 3.94 5.03 5.08 EPS (Diluted)
175 178 188 187 187 185 190 191 189 188 171 160 157 156 146 135 133 Shares Outstanding (Diluted
Average)
33.58 54.62 63.58 85.20 124 139 138 159 215 268 330 327 178 170 142 189 189 Depreciation, Depletion and
Amortization
212 283 268 297 321 333 460 576 625 656 634 536 751 772 852 745 748 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTXS 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
73.49 484 349 224 326 261 396 333 644 281 260 369 836 1,115 619 546 546 Cash And Cash Equivalents
160 18.90 153 356 249 338 498 406 285 454 529 503 727 633 584 43.06 43.06 Marketable Securities
233 503 502 580 575 600 894 740 929 735 789 871 1,563 1,748 1,202 589 589 Cash, Cash Equivalents, Marketable
Securities
108 142 205 226 231 305 378 484 631 655 674 669 681 713 688 720 720 Accounts Receivable
-- 3.93 6.62 9.63 11.23 8.66 6.98 8.51 10.72 14.11 12.62 10.52 12.52 13.91 21.91 15.90 15.90 Inventories, Other
-- 3.93 6.62 9.63 11.23 8.66 6.98 8.51 10.72 14.11 12.62 10.52 12.52 13.91 21.91 15.90 15.90 Total Inventories
85.04 77.57 98.44 119 122 126 191 140 143 159 212 133 305 147 174 188 188 Other Current Assets
427 726 812 934 940 1,039 1,470 1,373 1,714 1,563 1,688 1,684 2,561 2,621 2,087 1,513 1,513 Total Current Assets
-- -- -- -- 276 608 792 738 595 856 1,073 892 980 984 574 16.64 16.64 Investments And Advances
9.06 9.06 9.06 9.06 15.88 15.88 15.88 15.88 16.77 27.59 27.59 27.59 16.77 16.77 16.77 16.77 16.77 Land And Improvements
53.54 56.86 64.31 81.97 72.10 72.10 72.10 72.10 76.20 85.09 85.09 85.09 76.15 76.15 76.15 76.15 76.15 Buildings And Improvements
124 139 176 144 184 177 199 442 525 626 747 882 592 638 701 742 742 Machinery, Furniture, Equipment
-- -- -- -- -- -- -- -- 15.52 28.44 18.89 14.10 15.75 28.82 8.45 2.91 2.91 Construction In Progress
186 205 249 325 487 511 579 662 783 936 1,090 1,226 864 929 985 1,244 1,244 Gross Property, Plant and Equipment
-117 -132 -156 -190 -233 -264 -328 -384 -479 -597 -723 -852 -602 -676 -742 -806 -806 Accumulated Depreciation
69.28 73.73 92.58 135 254 248 250 277 303 339 368 374 262 253 243 438 438 Property, Plant and Equipment
449 729 762 1,165 1,175 1,113 1,099 1,582 2,074 2,279 2,188 2,246 1,760 1,756 1,970 1,907 1,907 Intangible Assets
-- 592 632 889 905 900 921 1,239 1,518 1,769 1,797 1,963 1,586 1,614 1,803 1,798 1,798 Goodwill
342 169 358 301 49.52 83.49 91.54 129 110 176 195 272 827 205 262 515 515 Other Long Term Assets
1,286 1,699 2,024 2,535 2,694 3,091 3,704 4,100 4,796 5,212 5,512 5,468 6,390 5,820 5,136 4,389 4,389 Total Assets
17.55 33.50 45.22 55.59 46.67 57.35 65.84 58.03 71.12 78.45 79.88 95.40 72.72 66.89 75.55 84.54 84.54 Accounts Payable
-- -- -- -- -- -- -- 8.30 49.35 29.32 12.05 18.35 39.77 34.03 44.41 60.04 60.04 Total Tax Payable
129 165 191 247 242 279 356 175 247 224 232 247 226 218 214 279 279 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- -- -- 1,348 -- 1,155 -- -- Current Portion of Long-Term Debt
211 266 333 407 489 556 664 819 965 1,099 1,200 1,250 1,208 1,308 1,345 1,352 1,352 Current Deferred Revenue
-- -- -- -- -- -- -- 79.32 -- -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
211 266 333 407 489 556 664 898 965 1,099 1,200 1,250 1,208 1,308 1,345 1,352 1,352 DeferredTaxAndRevenue
2.20 1.33 11.89 -- -- -- -- 106 131 141 158 184 316 161 197 197 197 Other Current Liabilities
342 432 536 654 731 834 1,020 1,179 1,343 1,464 1,590 1,681 3,098 1,687 2,911 1,829 1,829 Total Current Liabilities
-- 31.00 -- -- -- -- -- -- -- -- 1,293 1,311 -- 2,127 742 743 743 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 209 209 Capital Lease Obligation
-- 31.00 -- -- -- -- -- -- -- -- 1,293 1,311 -- 2,127 742 952 952 Long-Term Debt & Capital Lease
Obligation
-- 0.03 -- -- -- -- -- -- -- -- 0.60 0.66 0.50 2.14 3.39 1.14 1.14 Debt to Equity
-- -- -- -- 44.78 63.34 115 141 233 313 358 414 476 556 489 443 443 NonCurrent Deferred Liabilities
-- -- -- -- -- -- 7.60 -- -- -- -- -- -- -- -- -- -- Minority Interest
19.02 21.10 24.64 42.09 0.74 4.94 8.36 48.68 99.03 115 97.53 87.72 128 457 434 327 327 Other Long-Term Liabilities
361 484 560 696 776 903 1,143 1,369 1,675 1,892 3,338 3,494 3,702 4,828 4,576 3,551 3,551 Total Liabilities
0.21 0.23 0.24 0.25 0.26 0.27 0.28 0.28 0.29 0.29 0.30 0.30 0.30 0.31 0.31 0.32 0.32 Common Stock
778 824 1,007 1,209 1,387 1,578 1,855 2,211 2,564 2,904 3,155 3,475 4,011 3,509 4,169 4,660 4,660 Retained Earnings
6.43 -25.88 4.18 5.75 -15.85 -2.06 2.02 -11.56 -7.71 4.95 -36.79 -28.53 -28.70 -10.81 -8.15 -5.13 -5.13 Accumulated other comprehensive
income (loss)
873 1,324 1,656 2,038 2,305 2,588 3,112 3,385 3,691 3,974 4,293 4,567 4,762 4,884 5,405 6,249 6,249 Additional Paid-In Capital
-733 -907 -1,202 -1,414 -1,759 -1,976 -2,417 -2,855 -3,126 -3,563 -5,238 -6,040 -6,135 -7,390 -9,014 -10,067 -10,067 Treasury Stock
925 1,215 1,464 1,838 1,918 2,189 2,553 2,730 3,122 3,320 2,174 1,973 2,688 992 560 838 838 Total Equity
0.72 0.72 0.72 0.73 0.71 0.71 0.69 0.67 0.65 0.64 0.39 0.36 0.42 0.17 0.11 0.19 0.19 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTXS 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
132 166 183 214 178 191 276 356 353 340 252 215 470 21.99 576 682 682 Net Income
-- -- -- -- 1.04 2.02 -1.98 1.90 1.71 5.89 5.23 13.82 5.19 -7.65 7.95 2.63 2.63 Net Foreign Currency Exchange
Gain
132 166 183 214 178 191 276 356 353 340 252 215 470 21.99 576 682 682 Net Income From Continuing
Operations
33.58 54.62 63.58 85.20 124 139 138 159 215 268 330 327 178 170 142 189 189 Depreciation, Depletion and
Amortization
-25.31 -28.42 -68.27 -22.81 -10.98 -74.60 -79.06 -95.48 -108 -22.95 -30.96 -8.87 -61.66 -33.90 18.70 -38.99 -38.99 Change In Receivables
9.17 -1.71 -5.87 -6.32 -2.27 0.60 -1.19 -3.10 -2.02 -5.59 -1.17 0.70 -4.13 -2.55 -8.24 3.05 3.05 Change In Inventory
-- 2.48 -10.09 -24.84 2.62 -3.06 -37.32 1.41 -16.61 -7.93 -8.13 -10.26 -12.08 -18.33 -7.86 -7.13 -7.13 Change In Prepaid Assets
1.76 12.05 9.55 9.50 -22.15 67.51 97.05 -7.57 116 18.75 -16.88 105 48.72 346 -13.22 -38.88 -38.88 Change In Payables And Accrued
Expense
30.21 34.56 24.56 -22.56 43.42 87.59 145 73.87 205 190 96.87 196 133 470 30.25 -190 -190 Change In Working Capital
9.89 -14.35 -4.35 62.26 -6.84 -50.85 4.87 33.77 -70.79 -51.85 -36.98 -85.24 -21.65 94.16 -13.16 -245 -245 Change In DeferredTax
-- -- -- -- 125 111 104 92.91 150 184 169 128 153 165 204 279 279 Stock Based Compensation
-- -- -- -- -- -- -- -- -- -- -- -- -121 -- -- -- -- Cash Flow from Discontinued
Operations
60.06 51.98 61.93 84.74 -1.22 6.22 -51.73 -36.31 -33.42 -1.25 34.81 50.72 34.84 42.58 97.06 68.31 68.31 Cash Flow from Others
265 293 329 424 462 484 616 679 819 928 846 1,035 1,116 908 1,035 783 783 Cash Flow from Operations
-24.41 -26.38 -52.05 -89.17 -181 -76.25 -75.38 -112 -123 -163 -165 -97.57 -85.04 -80.90 -69.35 -63.45 -63.45 Purchase Of Property, Plant,
Equipment
-- -- -- -- -28.02 -3.34 -20.51 -455 -487 -335 -101 -95.33 -13.24 -60.45 -249 -- -183 Purchase Of Business
-193 -183 -710 -639 -592 -1,142 -1,297 -1,378 -1,442 -1,704 -2,391 -2,183 -2,239 -1,156 -467 -20.00 -20.00 Purchase Of Investment
414 538 386 459 683 722 952 1,509 1,719 1,276 2,102 2,382 1,927 1,242 924 1,121 1,121 Sale Of Investment
-- -- -- -- -40.42 -3.29 -16.72 -15.44 -27.76 -12.15 -13.68 -10.80 -25.94 -7.38 -3.21 -3.50 -3.50 Net Intangibles Purchase And Sale
-- -- -- -- -- -- -- -- -- -- -- -226 -49.54 -3.89 -- -- -- Cash From Discontinued Investing
Activities
-158 -168 -61.46 -148 -0.00 -0.00 0.00 0.00 3.45 -0.00 0.00 5.21 1.18 2.32 -3.20 1.65 1.65 Cash From Other Investing Activities
39.33 160 -437 -418 -159 -503 -457 -451 -358 -938 -569 -224 -484 -63.92 132 1,036 1,036 Cash Flow from Investing
63.46 102 231 118 44.37 166 354 126 -- -- -- -- -- -- -- -- -- Issuance of Stock
-122 -174 -274 -260 -256 -215 -434 -425 -251 -406 -1,641 -756 -28.69 -1,325 -1,261 -454 -454 Repurchase of Stock
-356 31.00 -34.85 -8.00 -0.41 -- -- -11.56 -24.35 -2.06 1,412 -3.18 -- 737 -279 -1,164 -1,164 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -46.80 -183 -183 Cash Flow for Dividends
-- -1.10 51.92 17.75 5.56 3.41 407 144 126 56.11 -63.44 67.43 -9.34 -106 -71.43 -89.21 -89.21 Other Financing
-414 -42.86 -26.44 -132 -207 -45.54 -26.32 -293 -150 -352 -293 -691 -38.03 -694 -1,658 -1,891 -1,891 Cash Flow from Financing
-109 411 -135 -125 102 -64.68 135 -62.87 310 -363 -20.59 108 588 158 -496 -73.00 -73.01 Net Change in Cash
-24.41 -26.38 -52.05 -89.17 -221 -79.54 -92.09 -127 -151 -175 -179 -108 -111 -88.28 -72.56 -66.95 -66.95 Capital Expenditure
241 267 277 335 241 404 524 552 668 753 667 926 1,005 820 963 716 716 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTXS 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
26.32 24.60 21.76 26.55 19.76 32.17 37.32 25.72 28.10 27.83 34.33 29.97 20.86 -- 25.94 21.83 20.85 PE Ratio(TTM)
20.70 19.21 15.99 24.16 12.79 18.72 22.38 17.83 16.97 14.76 16.15 15.11 16.22 22.69 23.33 41.40 39.53 Price to Owner Earnings
(TTM)
3.59 3.33 2.64 3.08 1.76 2.77 4.00 3.29 3.12 2.78 3.76 4.70 4.14 12.74 24.06 17.24 16.46 Price to Book
6.97 8.33 5.51 8.42 4.55 5.63 7.03 7.83 9.30 8.87 -- -- 11.97 -- -- -- -- Price to Tangible Book
14.12 15.24 14.56 16.92 14.52 15.22 19.80 16.68 14.80 12.59 13.22 10.41 11.12 16.67 15.55 21.04 20.09 Price-to-Free-Cash-Flow
Ratio
12.82 13.88 12.26 13.38 7.56 12.71 16.84 13.55 12.07 10.21 10.37 9.34 10.01 15.05 14.46 19.24 18.38 Price-to-Operating-Cash-
Flow Ratio
4.60 4.48 3.56 4.08 2.21 3.80 5.53 4.17 3.82 3.25 2.76 3.67 4.08 4.84 5.02 4.98 4.76 PS Ratio
3.89 2.60 1.60 1.89 2.00 5.85 5.15 1.62 1.49 1.51 2.41 3.28 4.10 376 2.30 1.82 1.93 PEG Ratio
4.16 3.93 2.97 3.66 1.77 3.38 4.98 3.74 3.41 2.91 2.76 3.67 3.98 4.61 4.76 4.92 4.43 EV-to-Revenue
15.05 12.26 12.32 17.12 8.74 16.38 20.29 14.31 14.09 12.99 13.67 18.12 14.51 16.87 16.18 19.79 17.81 EV-to-EBITDA
18.00 15.17 16.05 23.99 14.21 28.06 29.00 19.77 21.46 21.97 28.52 46.50 19.03 21.64 19.96 26.65 24.00 EV-to-EBIT
5.56 6.59 6.23 4.17 7.04 3.56 3.45 5.06 4.66 4.55 3.51 2.15 5.25 4.62 5.01 3.75 4.18 Return on Capital %
12.28 14.77 19.70 18.97 17.73 10.48 10.69 20.36 23.65 24.35 20.93 15.74 12.07 13.48 16.65 17.17 17.27 Forward Rate of Return
-- -- 35.97 41.77 23.58 37.67 55.49 42.91 41.31 36.50 35.39 39.19 39.75 52.29 51.22 45.71 43.65 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.34 1.26 1.33 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,319 4,041 3,872 5,671 3,381 6,052 10,214 8,984 9,738 9,232 8,169 9,266 11,116 12,646 13,467 14,441 12,969 Market Cap
3,086 3,569 3,370 5,092 2,805 5,452 9,328 8,244 8,810 8,498 8,673 9,706 10,901 13,026 14,162 14,805 13,332 Enterprise Value
19.48 22.88 21.54 30.27 18.77 33.14 54.48 48.35 52.26 50.37 50.81 60.24 71.12 88.00 102 111 106 Month End Stock Price
-0.75 0.10 -0.33 -0.62 -1.12 -1.66 -1.37 -3.39 -4.00 -6.32 -15.85 -17.05 -13.69 -21.43 -25.67 -22.75 -22.75 Net Cash (per share)
0.38 1.37 1.40 1.27 0.91 0.75 1.71 0.02 0.21 -1.80 -10.26 -11.77 -7.30 -15.35 -18.94 -15.65 -15.65 Net Current Asset Value
(per share)
-0.27 0.72 0.55 0.31 -0.12 -0.38 0.16 -1.41 -1.44 -3.60 -12.67 -13.75 -10.38 -17.67 -21.66 -18.54 -18.54 Net-Net Working Capital (per
share)
20.18 22.91 24.69 27.28 30.09 32.75 37.08 42.11 49.00 55.98 64.89 60.06 65.08 60.86 72.08 85.51 85.51 Projected FCF (per share)
-- -- 36.43 38.62 40.36 38.17 42.32 49.63 60.28 65.97 75.97 64.03 67.58 71.12 86.97 101 101 Median PS (per share)
5.00 8.80 13.49 16.01 9.38 5.67 10.57 29.87 35.12 33.32 21.05 18.37 17.35 0.23 44.56 60.91 60.91 Peter Lynch Fair Value (per
share)
6.87 7.58 9.23 9.60 9.44 11.68 15.96 16.12 15.34 15.17 -- -- 19.99 -- -- -- -- Graham Number (per share)
10.41 13.44 15.35 16.94 17.73 19.30 21.47 23.46 27.17 31.11 30.42 30.14 37.18 31.96 36.19 51.02 51.02 Earnings Power Value
(EPV)
7.44 6.86 5.97 6.56 4.26 5.55 7.01 5.63 5.15 4.54 3.04 3.09 3.30 3.44 3.74 4.94 4.75 Altman Z-Score
8.00 6.00 4.00 5.00 5.00 5.00 7.00 6.00 7.00 5.00 4.00 7.00 7.00 4.00 8.00 7.00 7.00 Piotroski F-Score
-2.29 -2.62 -2.38 -2.70 -2.94 -2.58 -2.71 -2.57 -2.69 -2.93 -3.21 -2.94 -2.84 -3.27 -2.90 -2.46 -2.46 Beneish M-Score
0.51 0.58 0.57 0.62 0.53 0.59 0.54 0.54 0.54 0.54 0.51 0.44 0.45 0.22 0.22 0.23 0.30 Scaled Net Operating
Assets
-13.46 -16.90 14.40 8.20 -4.65 6.79 3.18 3.13 -2.25 6.70 -0.45 -8.98 -1.49 -14.86 -11.52 -25.91 -25.91 Sloan Ratio (%)
1.25 1.68 1.52 1.43 1.29 1.25 1.44 1.16 1.28 1.07 1.06 1.00 0.83 1.55 0.72 0.83 0.83 Current Ratio
1.25 1.67 1.50 1.41 1.27 1.24 1.43 1.16 1.27 1.06 1.05 1.00 0.82 1.55 0.71 0.82 0.82 Quick Ratio
20.56 23.29 36.23 34.93 30.64 34.04 56.59 69.78 69.52 60.78 57.88 67.03 73.31 88.63 114 114 131 Highest Stock Price
12.02 16.78 21.36 21.37 15.56 16.00 32.77 40.06 45.66 43.77 41.98 45.38 49.60 71.12 84.53 91.22 90.28 Lowest Stock Price
-3.59 -3.65 -1.78 -4.23 3.87 -1.39 -2.67 0.89 -0.28 1.64 12.28 4.33 -1.61 8.06 8.54 0.92 0.92 Shares Buyback Ratio (%)
30.68 20.51 18.19 22.94 14.19 2.88 12.87 17.51 18.14 13.38 18.36 -10.08 5.56 4.29 12.18 9.03 9.26 YoY Rev. per Sh. Growth
(%)
7.14 24.00 4.30 17.53 -15.79 7.29 41.75 28.08 -0.53 -3.23 -18.33 35.37 71.36 -104 3,131 27.66 28.61 YoY EPS Growth (%)
16.33 31.38 -10.31 11.21 8.38 4.65 34.22 25.12 9.39 5.29 6.38 -9.80 43.13 3.81 17.55 -5.78 -7.80 YoY EBITDA Growth (%)
6.76 9.46 13.63 14.04 9.87 5.50 7.24 15.89 18.88 18.41 14.22 9.14 5.56 7.80 11.28 11.99 11.10 EBITDA 5-Y Growth (%)
169 172 181 182 183 182 186 187 187 187 170 159 155 151 136 131 130 Shares Outstanding (Basic
Average)
170 177 180 187 180 183 187 186 186 183 161 154 156 144 131 130 130 Shares Outstanding (EOP)
2.76 2.26 1.55 1.14 0.74 1.03 1.07 1.55 1.92 2.25 1.85 1.33 1.55 1.57 1.10 0.74 0.74 Beta
03/11/05 03/14/06 09/07/07 02/27/08 02/27/09 02/24/10 02/24/11 02/23/12 02/21/13 02/20/14 02/19/15 02/18/16 02/16/17 02/16/18 02/15/19 02/14/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTXS 6/7
03/14/06 09/07/07 02/27/08 02/27/08 02/27/09 02/24/11 02/21/13 02/20/14 02/19/15 02/18/16 02/16/17 02/16/18 02/15/19 02/14/20 02/14/20 02/14/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTXS 7/7
Goodyear Tire & Rubber Co (NAS:GT) 03/03/2020 2:00PM EST GuruFocus
Price: $ 9.00 -0.49(-5.16%) Market Cap: $ 2.09 B Enterprise Value: $7.91 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.14 Operating margin (%) 4.10
P/B 0.48
Equity to Asset 0.25 Net-margin (%) -2.11
P/S 0.15
Interest Coverage 1.78 ROE (%) -6.56
F-Score:
PFCF 4.82
ROA (%) -1.75
3 POCF 1.76
Z-Score: ROC (Joel Greenblatt) (%) 5.51
1.61 EV-to-EBIT 15.30
Revenue Growth (3Y)(%) 3.60
M-Score: Shiller P/E 3.89
-2.96 EBITDA Growth (3Y)(%) -13.40
Current Ratio 1.12
Quick Ratio 0.58
Days Inventory 92.51
Days Sales Outstanding 48.05
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Goodyear Tire & Rubber Co manufactures and sells a variety of rubber tires under the Goodyear brand name. The
Revenue per Share: Declined
firm's tires are used for automobiles, trucks, buses, aircraft, motorcycles, mining equipment, farm equipment, and
2016 3,691 3,879 3,847 3,741 15,158 industrial equipment. The company operates its business through three operating segments representing its regional
Stock buyback: Poor tire businesses: Americas; Europe, the Middle East and Africa (EMEA); and the Asia Pacific.... (Read More)
2017 3,699 3,686 3,921 4,071 15,377
buyback track record Competitors: NYSE:ADNT, NAS:DORM, NYSE:DAN, TSE:6592 , TSE:7240 , SZSE:002085 , SZSE:000581 ,
2018 3,830 3,841 3,928 3,876 15,475
TSE:7988, SZSE:000559, SZSE:002625, TSE:3116, XMAD:CIE, TSE:5105, XKRX:161390, TSE:5101,
2019 3,598 3,632 3,802 3,713 14,745 XMAD:GEST, NAS:VC, SHSE:603730, TSE:7282, BOM:500086
Good Signs 2020
Insider Trades
Dividend Yield %: Close to Quarterly Earnings per Share
10-year high Mar Jun Sep Dec Full Year
Price: Close to 10-year low 2016 0.68 0.75 1.19 2.14 4.76
2017 0.65 0.58 0.50 -0.39 1.34
PB Ratio: Close to 10-year 2018 0.31 0.65 1.48 0.47 2.91
low 2019 -0.26 0.23 0.38 -1.68 -1.33
PS Ratio: Close to 5-year low 2020
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
GuruFocus does not 2016 0.07 0.07 0.07 0.10 0.31
calculate intrinsic value: DCF 2017 0.10 0.10 0.10 0.14 0.44
(Earnings Based) for 2018 0.14 0.14 0.14 0.16 0.58
companies with one star 2019 0.16 0.16 0.16 0.16 0.64
predictability or not rated. But 2020
you can go to each stock's Growth Rate
DCF page to calculate
yourself. Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) -2.70 0.40 -2.30
Reverse DCF EBITDA Growth (%) 8.20 0.10 -36.20
GuruFocus does not Free Cash Flow Growth (%) 0.00 0.00 327.30
calculate reverse DCF growth Book Value Growth (%) 0.00 8.30 -10.90
rate for companies with one EPS Growth (%) 0.00 0.00 -146.00
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GT 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
95.46 86.71 106 84.67 80.86 67.64 77.82 84.01 84.99 70.54 65.01 60.23 56.99 60.78 64.75 63.28 63.21 Revenue per Share
7.97 7.62 4.60 6.59 4.84 2.45 4.03 6.14 6.01 6.96 6.68 6.39 8.67 7.88 8.83 5.63 5.62 EBITDA per Share
4.31 4.42 0.89 3.94 2.10 -0.19 1.34 3.50 3.23 4.35 4.05 3.83 5.94 4.79 5.57 2.22 2.21 EBIT per Share
0.63 1.16 -1.86 2.65 -0.32 -1.55 -0.89 1.26 0.74 2.28 8.78 1.12 4.74 1.37 2.89 -1.33 -1.33 Earnings per Share (diluted)
0.63 1.21 -2.11 0.65 -0.32 -1.55 -0.89 1.26 0.74 2.28 8.78 1.12 4.74 1.37 2.89 -1.33 -1.33 eps without NRI
2.49 3.68 2.59 3.11 -0.80 4.10 1.37 0.33 2.34 4.04 2.14 0.98 1.96 1.31 2.19 1.31 1.31 Owner Earnings per Share (TTM)
1.34 1.36 -0.72 -2.73 -7.42 2.29 -0.08 -1.00 -0.36 -0.83 -2.09 2.73 2.11 1.10 0.44 1.88 1.87 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- 0.05 0.22 0.25 0.31 0.44 0.58 0.64 0.64 Dividends per Share
0.42 0.41 -4.25 11.87 4.24 3.04 2.65 1.02 -0.53 4.46 13.42 14.68 17.89 19.17 20.95 18.67 18.67 Book Value per Share
-4.62 -4.10 -8.90 8.20 0.74 -0.56 -0.82 -2.29 -3.81 1.21 10.67 12.09 15.22 16.11 17.91 15.66 15.66 Tangible Book per Share
32.34 30.63 40.46 19.68 20.63 18.66 19.53 21.23 20.76 25.20 23.77 21.38 21.74 23.86 24.82 28.03 28.03 Total Debt per Share
14.66 17.38 20.99 28.22 5.97 14.10 11.85 14.17 13.81 23.85 28.57 32.67 30.87 32.31 20.41 15.56 9.00 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
548 310 -- 57.55 -3.98 -42.69 -31.33 46.09 32.71 60.73 93.75 8.15 30.00 7.60 14.64 -6.75 -6.56 Return on Equity %
0.75 1.44 -2.02 3.52 -0.48 -2.53 -1.44 2.06 1.23 3.65 13.79 1.78 7.68 2.06 4.08 -1.83 -1.75 Return on Assets %
10.83 12.29 2.21 11.87 6.26 -0.59 4.40 12.46 10.00 14.99 14.47 14.23 21.64 15.55 16.27 6.02 5.51 Return on Capital %
6.56 7.33 4.97 10.19 -1.96 -0.14 -261 18.99 14.54 24.99 77.40 11.85 19.89 5.73 8.22 -10.04 -9.19 Return on Invested Capital %
4.78 6.64 7.19 10.87 7.61 11.71 8.99 10.86 8.95 9.75 12.98 14.21 9.79 8.54 7.20 -6.83 1.21 Weighted Average Cost Of Capital (WACC) %
-- -- -- 7.54 6.60 6.55 6.82 6.64 6.94 6.92 7.02 7.24 6.65 5.98 5.59 5.53 4.89 Effective Interest Rate on Debt %
19.38 19.69 16.08 19.00 17.18 16.10 17.95 17.33 18.24 21.07 23.33 26.02 27.86 24.04 22.71 21.32 21.32 Gross Margin %
4.52 5.09 0.84 4.94 3.84 -0.04 2.65 4.39 4.42 6.59 7.67 9.58 10.76 8.34 7.42 4.10 4.10 Operating Margin %
0.63 1.26 -1.76 3.06 -0.40 -2.30 -1.15 1.51 1.01 3.22 13.52 1.87 8.34 2.25 4.48 -2.11 -2.11 Net Margin %
1.41 1.56 -0.68 -3.23 -9.17 3.38 -0.11 -1.19 -0.42 -1.18 -3.21 4.53 3.70 1.80 0.68 2.96 2.96 FCF Margin %
76.76 74.07 -9.51 1.66 4.87 6.15 7.37 6.94 13.75 3.89 1.77 1.46 1.22 1.25 1.19 1.50 1.50 Debt to Equity
0.01 0.01 -0.05 0.17 0.07 0.05 0.04 0.04 0.02 0.09 0.20 0.24 0.27 0.27 0.29 0.25 0.25 Total Equity to Total Asset
0.35 0.35 0.42 0.28 0.33 0.31 0.30 0.30 0.30 0.36 0.35 0.35 0.33 0.34 0.34 0.38 0.38 Total Debt to Total Asset
23.10 22.48 18.48 21.82 20.66 17.71 22.50 23.73 22.13 23.87 23.79 24.85 25.67 22.02 20.71 18.46 17.64 Gross Profit to Total Asset %
1.19 1.14 1.15 1.15 1.20 1.10 1.25 1.37 1.21 1.13 1.02 0.96 0.92 0.92 0.91 0.87 0.83 Asset Turnover
-- -- -- -- -- -- -- -- -- 0.02 0.03 0.22 0.07 0.32 0.20 -- -- Dividend Payout Ratio
67.58 63.69 54.50 57.66 47.14 56.87 53.03 45.68 44.56 45.48 42.78 45.13 42.60 48.07 47.88 48.05 48.05 Days Sales Outstanding
48.60 48.69 45.11 55.56 57.20 60.80 73.39 71.13 68.54 73.30 75.54 83.09 86.42 87.72 89.11 91.49 91.49 Days Accounts Payable
64.78 70.24 62.75 66.12 76.40 80.53 64.01 66.26 75.56 71.78 72.01 77.04 84.97 84.59 86.10 89.77 92.51 Days Inventory
83.76 85.24 72.14 68.22 66.34 76.60 43.65 40.81 51.58 43.96 39.25 39.08 41.15 44.94 44.87 46.33 49.07 Cash Conversion Cycle
5.63 5.20 5.82 5.52 4.78 4.53 5.70 5.51 4.83 5.08 5.07 4.74 4.30 4.31 4.24 4.07 3.95 Inventory Turnover
0.81 0.80 0.84 0.81 0.83 0.84 0.82 0.83 0.82 0.79 0.77 0.74 0.72 0.76 0.77 0.79 0.79 COGS to Revenue
0.14 0.16 0.14 0.15 0.17 0.19 0.14 0.15 0.17 0.16 0.15 0.16 0.17 0.18 0.18 0.19 0.20 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GT 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
18,353 18,098 18,751 19,644 19,488 16,301 18,832 22,767 20,992 19,540 18,138 16,443 15,158 15,377 15,475 14,745 14,745 Revenue
14,796 14,535 15,736 15,911 16,139 13,676 15,452 18,821 17,163 15,422 13,906 12,164 10,935 11,680 11,961 11,602 11,602 Cost of Goods Sold
3,557 3,563 3,015 3,733 3,349 2,625 3,380 3,946 3,829 4,118 4,232 4,279 4,223 3,697 3,514 3,143 3,143 Gross Profit
19.38 19.69 16.08 19.00 17.18 16.10 17.95 17.33 18.24 21.07 23.33 26.02 27.86 24.04 22.71 21.32 21.32 Gross Margin %
2,728 2,641 2,857 2,762 2,600 2,631 2,630 2,822 2,718 2,758 2,720 2,614 2,409 2,279 2,312 2,323 2,323 Selling, General, & Admin. Expense
-- -- -- -- -- -- 251 124 183 73.00 120 89.00 183 135 53.00 216 216 Other Operating Expense
829 922 158 971 749 -6.00 499 1,000 928 1,287 1,392 1,576 1,631 1,283 1,149 604 604 Operating Income
4.52 5.09 0.84 4.94 3.84 -0.04 2.65 4.39 4.42 6.59 7.67 9.58 10.76 8.34 7.42 4.10 4.10 Operating Margin %
-- -- -- 128 68.00 17.00 11.00 16.00 17.00 41.00 28.00 22.00 15.00 13.00 54.00 26.00 25.00 Interest Income
-- -- -- -450 -320 -311 -316 -330 -357 -392 -444 -438 -372 -335 -321 -340 -340 Interest Expense
-- -- -- -322 -252 -294 -400 -403 -502 -415 -477 -501 -440 -377 -303 -348 -349 Net Interest Income
-506 -565 -471 -185 -311 -57.00 -91.00 21.00 14.00 -59.00 -228 -467 16.00 -28.00 165 -79.00 -78.00 Other Income (Expense)
-58.00 -95.00 -111 -70.00 -54.00 -11.00 -52.00 -74.00 -25.00 -46.00 -69.00 -69.00 -20.00 -19.00 -15.00 -14.00 -14.00 Other Income (Minority Interest)
323 357 -313 464 186 -357 8.00 618 440 813 687 608 1,207 878 1,011 177 177 Pre-Tax Income
-208 -233 -60.00 -255 -209 -7.00 -172 -201 -203 -138 1,834 -232 77.00 -513 -303 -474 -474 Tax Provision
64.40 65.27 -19.17 54.96 112 -1.96 2,150 32.52 46.14 16.97 -267 38.16 -6.38 58.43 29.97 268 268 Tax Rate %
115 124 -373 139 -23.00 -364 -164 417 237 675 2,521 376 1,284 365 708 -297 -297 Net Income (Continuing Operations)
-- 115 43.00 463 -- -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
115 228 -330 602 -77.00 -375 -216 343 212 629 2,452 307 1,264 346 693 -311 -311 Net Income
0.63 1.26 -1.76 3.06 -0.40 -2.30 -1.15 1.51 1.01 3.22 13.52 1.87 8.34 2.25 4.48 -2.11 -2.11 Net Margin %
-- -- -- -- -- -- -- 22.00 29.00 29.00 7.00 -- -- -- -- -- -- Preferred dividends
0.65 1.30 -1.86 3.00 -0.32 -1.55 -0.89 1.32 0.75 2.44 9.13 1.14 4.81 1.39 2.92 -1.33 -1.33 EPS (Basic)
0.63 1.16 -1.86 2.65 -0.32 -1.55 -0.89 1.26 0.74 2.28 8.78 1.12 4.74 1.37 2.89 -1.33 -1.33 EPS (Diluted)
192 209 177 232 241 241 242 271 247 277 279 273 266 253 239 233 233 Shares Outstanding (Diluted
Average)
703 669 656 614 660 636 652 715 687 722 732 698 727 781 778 795 795 Depreciation, Depletion and
Amortization
1,532 1,591 814 1,528 1,166 590 976 1,663 1,484 1,927 1,863 1,744 2,306 1,994 2,110 1,312 1,312 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GT 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,968 2,162 3,862 3,463 1,894 1,922 2,005 2,772 2,281 2,996 2,161 1,476 1,132 1,043 801 908 908 Cash And Cash Equivalents
1,968 2,162 3,862 3,463 1,894 1,922 2,005 2,772 2,281 2,996 2,161 1,476 1,132 1,043 801 908 908 Cash, Cash Equivalents, Marketable
Securities
3,398 3,158 2,800 3,103 2,517 2,540 2,736 2,849 2,563 2,435 2,126 2,033 1,769 2,025 2,030 1,941 1,941 Accounts Receivable
586 587 663 591 714 483 706 937 743 592 535 419 436 466 569 530 530 Inventories, Raw Materials &
Components
140 137 135 147 119 138 168 186 169 164 149 138 131 142 152 143 143 Inventories, Work In Process
2,058 2,086 1,803 2,426 2,759 1,822 2,103 2,733 2,338 2,060 1,987 1,907 2,060 2,179 2,135 2,178 2,178 Inventories, Finished Goods
2,784 2,810 2,601 3,164 3,592 2,443 2,977 3,856 3,250 2,816 2,671 2,464 2,627 2,787 2,856 2,851 2,851 Total Inventories
424 486 916 442 307 320 327 335 404 397 201 153 190 224 238 234 234 Other Current Assets
8,574 8,616 10,179 10,172 8,310 7,225 8,045 9,812 8,498 8,644 7,159 6,126 5,718 6,079 5,925 5,934 5,934 Total Current Assets
377 424 431 446 433 413 403 412 416 434 413 387 397 433 427 426 426 Land And Improvements
1,872 1,947 1,870 2,056 1,909 1,860 1,857 1,991 2,078 2,359 2,411 2,262 2,323 2,619 2,593 2,658 2,658 Buildings And Improvements
10,581 10,144 9,870 10,656 10,697 11,338 11,602 11,479 12,082 12,517 12,392 11,787 12,278 13,502 13,483 13,654 13,654 Machinery, Furniture, Equipment
449 445 420 596 748 692 947 948 1,188 978 733 783 887 721 655 682 682 Construction In Progress
13,279 12,960 12,740 13,927 13,944 14,469 14,972 15,004 15,947 16,478 16,182 15,414 16,165 17,529 17,420 18,551 18,551 Gross Property, Plant and Equipment
-7,826 -7,729 -7,673 -8,329 -8,310 -8,626 -8,807 -8,629 -8,991 -9,158 -9,029 -8,637 -9,125 -10,078 -10,161 -10,488 -10,488 Accumulated Depreciation
5,453 5,231 5,067 5,598 5,634 5,843 6,165 6,375 6,956 7,320 7,153 6,777 7,040 7,451 7,259 8,063 8,063 Property, Plant and Equipment
886 796 828 880 843 870 844 811 804 806 739 693 671 734 705 702 702 Intangible Assets
-- 637 662 713 683 706 683 654 664 668 601 555 535 595 569 565 565 Goodwill
1,188 962 955 541 439 472 576 631 715 757 2,993 2,795 3,082 2,800 2,983 2,486 2,486 Other Long Term Assets
16,101 15,605 17,029 17,191 15,226 14,410 15,630 17,629 16,973 17,527 18,044 16,391 16,511 17,064 16,872 17,185 17,185 Total Assets
1,970 1,939 1,945 2,422 2,529 2,278 3,107 3,668 3,223 3,097 2,878 2,769 2,589 2,807 2,920 2,908 2,908 Accounts Payable
-- -- -- 196 -- -- -- -- -- -- -- -- -- -- -- -- -- Total Tax Payable
1,970 1,939 1,945 3,515 3,154 2,278 3,107 3,668 3,223 3,097 2,878 2,769 2,589 2,807 2,920 2,908 2,908 Accounts Payable & Accrued
Expense
1,237 665 648 396 847 338 426 412 198 87.00 178 634 681 653 653 1,109 1,109 Current Portion of Long-Term Debt
1,992 2,837 2,073 753 778 1,479 1,774 1,849 1,901 1,841 1,674 1,552 1,547 1,565 1,208 1,270 1,270 Other Current Liabilities
5,199 5,441 4,666 4,664 4,779 4,095 5,307 5,929 5,322 5,025 4,730 4,955 4,817 5,025 4,781 5,287 5,287 Total Current Liabilities
4,443 4,742 6,562 4,329 4,132 4,182 4,319 4,789 4,888 6,162 6,216 5,074 4,798 5,076 5,110 4,753 4,753 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 668 668 Capital Lease Obligation
4,443 4,742 6,562 4,329 4,132 4,182 4,319 4,789 4,888 6,162 6,216 5,074 4,798 5,076 5,110 5,421 5,421 Long-Term Debt & Capital Lease
Obligation
76.76 74.07 -9.51 1.66 4.87 6.15 7.37 6.94 13.75 3.89 1.77 1.46 1.22 1.25 1.19 1.50 1.50 Debt to Equity
-- -- -- 3,404 3,487 3,526 3,415 4,002 4,340 2,673 1,676 1,468 1,460 1,515 1,345 1,334 1,334 PensionAndRetirementBenefit
402 304 320 274 193 235 242 244 264 256 90.00 91.00 85.00 100.00 95.00 90.00 90.00 NonCurrent Deferred Liabilities
843 791 877 1,003 231 844 277 268 255 262 235 222 218 247 206 194 194 Minority Interest
5,140 4,254 5,362 667 1,382 793 1,426 1,648 1,534 1,543 1,487 661 626 498 508 Other Long-Term Liabilities
471 508
15,184 14,741 16,910 13,338 13,973 12,831 14,709 16,612 16,348 15,659 14,199 12,249 11,786 12,214 11,802 12,640 12,640 Total Liabilities
176 177 178 -- -- -- -- 245 245 248 269 267 252 240 232 233 233 Common Stock
-- -- -- -- -- -- -- 500 500 500 -- -- -- -- -- -- -- Preferred Stock
1,070 1,298 968 1,602 1,463 1,082 866 1,187 1,370 1,958 4,331 4,570 5,808 6,044 6,597 6,113 6,113 Retained Earnings
-2,564 -2,800 -3,331 -1,652 -3,446 -3,372 -3,270 -3,991 -4,560 -3,947 -4,131 -4,010 -4,198 -3,976 -4,076 -4,136 -4,136 Accumulated other comprehensive
income (loss)
1,392 1,398 1,427 2,900 3,005 3,025 3,048 2,808 2,815 2,847 3,141 3,093 2,645 2,295 2,111 2,141 2,141 Additional Paid-In Capital
74.00 73.00 -758 2,850 1,022 735 644 749 370 1,606 3,610 3,920 4,507 4,603 4,864 4,351 4,351 Total Equity
0.01 0.01 -0.05 0.17 0.07 0.05 0.04 0.04 0.02 0.09 0.20 0.24 0.27 0.27 0.29 0.25 0.25 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GT 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
115 228 -330 139 -23.00 -364 -164 417 237 675 2,521 376 1,284 365 708 -297 -297 Net Income
-- -- -- -- -- -- 134 -- -- 115 200 -- -- -- -- -- -- Net Foreign Currency Exchange
Gain
115 228 -330 139 -23.00 -364 -164 417 237 675 2,521 376 1,284 365 708 -297 -297 Net Income From Continuing
Operations
703 669 656 614 660 636 652 715 687 722 732 698 727 781 778 795 795 Depreciation, Depletion and
Amortization
-395 -6.00 268 -104 294 139 -181 -337 291 79.00 75.00 -31.00 211 -147 -172 71.00 71.00 Change In Receivables
-50.00 -237 127 -395 -700 1,265 -536 -1,009 619 366 -35.00 -89.00 -172 -44.00 -171 6.00 6.00 Change In Inventory
64.10 -- -- 29.00 -58.00 -- -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
154 62.00 74.00 294 279 -36.00 769 696 -453 -30.00 -41.00 78.00 -156 85.00 223 5.00 5.00 Change In Payables And Accrued
Expense
196 397 614 -26.00 -183 1,364 564 -256 490 626 276 126 -275 -271 -261 289 289 Change In Working Capital
-4.00 -132 -45.00 23.00 -- -- -- -- 16.00 -34.00 -1,970 79.00 -229 366 131 323 323 Change In DeferredTax
-- -- -- 27.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Cash Flow from Discontinued
Operations
-223 -256 -407 -658 -1,193 -339 -128 -103 -392 -1,051 -1,219 449 50.00 -83.00 -440 97.00 97.00 Cash Flow from Others
787 884 550 105 -739 1,297 924 773 1,038 938 340 1,728 1,557 1,158 916 1,207 1,207 Cash Flow from Operations
-529 -601 -678 -739 -84.00 -746 -944 -1,043 -1,127 -1,168 -923 -983 -996 -881 -811 -770 -770 Purchase Of Property, Plant,
Equipment
19.00 257 127 107 -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -- -- -- -320 -- -- -- -- -- Purchase Of Business
-- -- -- 107 58.00 43.00 -- -- -- -- -- -- -- -- -- -- -- Sale Of Business
-- -- -- -- -360 -- -- -4.00 -57.00 -105 -72.00 -77.00 -72.00 -83.00 -68.00 -113 -113 Purchase Of Investment
-- -- -- -- 284 47.00 26.00 -- 28.00 89.00 95.00 69.00 60.00 83.00 68.00 106 106 Sale Of Investment
-- -33.00 -34.00 1,435 -- -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-143 -64.00 53.00 -81.00 -956 -7.00 59.00 145 33.00 48.00 49.00 55.00 29.00 2.00 -56.00 -23.00 -23.00 Cash From Other Investing Activities
-653 -441 -532 829 -1,058 -663 -859 -902 -1,123 -1,136 -851 -1,256 -979 -879 -867 -800 -800 Cash Flow from Investing
2.00 7.00 12.00 937 5.00 2.00 1.00 8.00 3.00 26.00 39.00 53.00 13.00 14.00 4.00 1.00 1.00 Issuance of Stock
-- -- -- -- -- -- -- -- -- -4.00 -234 -180 -500 -400 -220 -- -20.00 Repurchase of Stock
-- -- -- -- -- -- -- 484 -- -- -- -- -- -- -- -- -- Net Issuance of Preferred Stock
315 -69.00 1,720 -2,245 387 -619 212 562 -265 1,143 309 -477 -256 129 135 -119 -119 Net Issuance of Debt
-29.00 -52.00 -69.00 -100.00 -55.00 -- -- -15.00 -29.00 -41.00 -75.00 -68.00 -82.00 -110 -138 -148 -148 Cash Flow for Dividends
-51.00 -64.00 -16.00 -27.00 -73.00 -37.00 -34.00 -45.00 -135 -42.00 -50.00 -354 -51.00 -48.00 -24.00 -41.00 -41.00 Other Financing
237 -178 1,647 -1,435 264 -654 179 994 -426 1,082 -11.00 -1,026 -876 -415 -243 -307 -307 Cash Flow from Financing
409 203 1,724 -426 -1,569 28.00 83.00 767 -491 715 -835 -679 -313 -79.00 -237 101 101 Net Change in Cash
-529 -601 -678 -739 -1,049 -746 -944 -1,043 -1,127 -1,168 -923 -983 -996 -881 -811 -770 -770 Capital Expenditure
258 283 -128 -634 -1,788 551 -20.00 -270 -89.00 -230 -583 745 561 277 105 437 437 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GT 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
24.03 15.80 -- 12.60 -- -- -- 11.34 20.01 10.70 3.25 29.97 6.49 24.11 7.01 -- -- PE Ratio(TTM)
5.89 4.72 8.11 9.07 -- 3.44 8.65 42.81 5.90 5.91 13.33 33.27 15.77 24.66 9.32 11.89 6.87 Price to Owner Earnings
(TTM)
34.82 41.98 -- 2.38 1.41 4.65 4.47 13.95 -- 5.35 2.13 2.23 1.73 1.69 0.97 0.83 0.48 Price to Book
-- -- -- 3.44 8.05 -- -- -- -- 19.71 2.68 2.70 2.03 2.01 1.14 0.99 0.57 Price to Tangible Book
21.69 12.77 -- -- -- 6.22 -- -- -- -- -- 11.84 13.81 26.14 36.84 8.33 4.82 Price-to-Free-Cash-Flow
Ratio
4.60 4.09 6.26 62.30 -- 2.63 3.11 5.81 3.45 8.20 50.39 5.13 5.16 6.86 5.18 3.01 1.76 Price-to-Operating-Cash-
Flow Ratio
0.16 0.20 0.21 0.32 0.07 0.21 0.15 0.16 0.17 0.33 0.43 0.54 0.54 0.53 0.32 0.25 0.15 PS Ratio
-- 2.33 -- -- -- -- -- 10.70 1.85 0.27 0.25 2.76 1.41 4.22 1.86 -- -- PEG Ratio
0.39 0.39 0.42 0.46 0.24 0.42 0.31 0.29 0.33 0.51 0.67 0.80 0.81 0.83 0.64 0.64 0.54 EV-to-Revenue
4.65 4.46 9.79 5.98 4.08 11.62 6.04 4.01 4.68 5.15 6.52 7.56 5.35 6.37 4.70 7.20 6.03 EV-to-EBITDA
8.60 7.70 50.42 10.06 9.40 -149 18.20 7.03 8.71 8.24 10.75 12.60 7.82 10.46 7.44 18.26 15.30 EV-to-EBIT
11.63 12.99 1.98 9.94 10.64 -0.67 5.49 14.22 11.48 12.14 9.30 7.94 12.79 9.56 13.44 5.48 6.53 Return on Capital %
8.88 14.27 9.92 -7.12 -28.35 -40.65 -30.38 -6.79 3.80 20.41 10.81 10.16 8.18 9.36 10.12 15.44 25.03 Forward Rate of Return
48.84 -- -- -- -- -- -- -- -- 66.15 24.14 27.93 16.14 17.60 9.22 6.72 3.89 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- 0.21 0.77 0.77 1.00 1.36 2.84 4.11 7.11 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,575 3,068 3,741 6,776 1,441 3,415 2,880 3,472 3,383 5,915 7,685 8,723 7,779 7,759 4,739 3,625 2,094 Market Cap
7,130 7,104 7,966 9,041 4,757 6,857 5,897 6,669 6,943 9,930 12,153 13,177 12,344 12,692 9,907 9,441 7,910 Enterprise Value
14.66 17.38 20.99 28.22 5.97 14.10 11.85 14.17 13.81 23.85 28.57 32.67 30.87 32.31 20.41 15.56 9.00 Month End Stock Price
-80.05 -75.75 -78.13 -45.30 -51.00 -48.53 -53.42 -57.58 -58.46 -52.12 -45.62 -41.18 -43.14 -47.54 -48.27 -51.18 -51.18 Net Cash (per share)
-42.44 -39.18 -42.69 -17.36 -24.42 -26.63 -28.56 -30.89 -35.12 -31.36 -27.04 -23.76 -24.94 -26.57 -26.20 -29.61 -29.61 Net Current Asset Value
(per share)
-57.62 -54.37 -59.05 -29.02 -35.74 -35.62 -38.85 -43.03 -46.02 -41.09 -34.73 -30.85 -32.67 -35.42 -35.56 -38.82 -38.82 Net-Net Working Capital (per
share)
2.30 6.16 1.34 4.30 -14.68 -7.16 -9.25 -10.83 -13.36 -5.87 6.78 8.99 14.69 19.28 22.56 25.44 25.44 Projected FCF (per share)
30.58 23.41 23.39 20.23 16.20 12.71 13.04 14.03 12.76 12.00 12.72 12.40 14.02 14.98 20.16 19.70 19.70 Median PS (per share)
-- 7.45 -14.92 6.20 -3.20 -- -- -- 7.45 55.75 116 11.85 -- 7.65 -- -- -- Peter Lynch Fair Value (per
share)
-- -- -- 10.95 -- -- -- -- -- 7.88 45.92 17.45 40.29 22.28 34.13 -- -- Graham Number (per share)
44.03 60.31 71.82 30.13 16.70 5.16 -3.42 4.71 -5.46 -3.24 44.69 65.93 69.67 79.93 80.22 -110 -110 Earnings Power Value
(EPV)
1.65 1.72 1.64 2.04 1.86 1.65 1.68 1.95 1.85 1.97 2.03 2.12 2.19 2.09 2.05 1.67 1.61 Altman Z-Score
7.00 6.00 5.00 5.00 2.00 4.00 5.00 7.00 6.00 6.00 5.00 6.00 8.00 6.00 6.00 3.00 3.00 Piotroski F-Score
-2.55 -2.82 -2.76 -2.27 -2.31 -2.90 -2.78 -2.54 -2.78 -2.70 -1.51 -2.84 -2.68 -2.51 -2.53 -2.96 -2.96 Beneish M-Score
0.32 0.26 0.22 0.30 0.25 0.27 0.25 0.22 0.20 0.30 0.46 0.46 0.55 0.58 0.59 0.60 0.56 Scaled Net Operating
Assets
-0.12 -1.38 -2.04 -1.93 11.30 -7.00 -1.80 2.68 1.75 4.72 16.42 -1.01 4.15 0.39 3.82 -4.18 -4.18 Sloan Ratio (%)
1.65 1.58 2.18 2.18 1.74 1.76 1.52 1.65 1.60 1.72 1.51 1.24 1.19 1.21 1.24 1.12 1.12 Current Ratio
1.11 1.07 1.62 1.50 0.99 1.17 0.95 1.00 0.99 1.16 0.95 0.74 0.64 0.66 0.64 0.58 0.58 Quick Ratio
15.01 18.49 20.99 36.63 29.31 18.32 15.94 18.72 15.28 23.85 28.66 35.00 33.21 36.88 35.76 21.85 20.70 Highest Stock Price
7.09 11.38 9.86 20.99 4.18 3.51 9.24 9.37 9.44 11.95 19.63 23.97 24.53 29.06 19.30 10.92 8.97 Lowest Stock Price
-0.17 -0.51 -0.97 -34.73 -0.51 -0.35 -0.33 -0.82 -- -1.22 -8.47 0.74 5.62 4.70 3.32 -0.36 -0.36 Shares Buyback Ratio (%)
10.65 -9.17 22.18 -20.07 -4.50 -16.35 15.05 7.96 1.16 -17.00 -7.84 -7.35 -5.39 6.66 6.53 -2.26 -2.30 YoY Rev. per Sh. Growth
(%)
114 84.13 -260 242 -112 -384 42.58 242 -41.27 208 285 -87.24 323 -71.10 111 -146 -146 YoY EPS Growth (%)
41.03 -4.34 -39.66 43.21 -26.54 -49.40 64.75 52.17 -2.10 15.80 -4.02 -4.33 35.71 -9.09 12.02 -36.21 -36.40 YoY EBITDA Growth (%)
-2.31 6.42 6.97 -4.55 -6.63 -33.50 -19.87 1.06 10.80 39.99 13.21 10.87 4.60 5.71 3.77 0.46 0.10 EBITDA 5-Y Growth (%)
175 176 177 201 241 241 242 244 245 246 268 269 263 249 237 233 233 Shares Outstanding (Basic
Average)
176 177 178 240 241 242 243 245 245 248 269 267 252 240 232 233 233 Shares Outstanding (EOP)
1.67 2.35 2.22 2.62 2.49 3.00 2.67 2.96 2.14 2.17 0.93 1.39 1.79 1.57 1.62 1.86 1.83 Beta
03/16/05 02/17/06 02/16/07 02/14/08 02/18/09 02/18/10 02/10/11 02/14/12 02/12/13 02/13/14 02/17/15 02/09/16 02/08/17 02/08/18 02/08/19 02/11/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GT 6/7
02/17/06 02/16/07 02/14/08 02/18/09 02/18/10 02/10/11 02/12/13 02/13/14 02/17/15 02/09/16 02/08/17 02/08/18 02/08/19 02/11/20 02/11/20 02/11/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GT 7/7
Monster Beverage Corp (NAS:MNST) 03/03/2020 2:00PM EST GuruFocus
Price: $ 63.70 -1.07(-1.65%) Market Cap: $ 34.2 B Enterprise Value: $32.9 B Stock PDF
Financial Strength : 10/10 Profitability & Growth : 10/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 31.36
Cash to Debt No Debt Operating margin (%) 33.40
Forward P/E N/A
Equity to Asset 0.81 Net-margin (%) 26.37
PE(NRI) 31.36
Interest Coverage No Debt ROE (%) 28.19
F-Score:
P/B 8.25
ROA (%) 22.56
8 P/S 8.53
Z-Score: ROC (Joel Greenblatt) (%) 237.40
23.65 PFCF 32.08
Revenue Growth (3Y)(%) 12.70
WACC vs 9.11% POCF 30.17
ROIC 39.42% EBITDA Growth (3Y)(%) 21.60
WACC EV-to-EBIT 23.41
EPS Growth (3Y)(%) 22.80
ROIC
PEG 2.06
Shiller P/E 59.41
Current Ratio 3.31
Quick Ratio 2.86
Days Inventory 67.54
Days Sales Outstanding 46.95
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Monster Beverage is a leader in the energy drink subsegment of the beverage industry. The Monster trademark
Price: Close to 10-year high
anchors its portfolio, and notable offerings include Monster Energy, Monster Ultra, and Java Monster. Operationally,
2016 680 827 788 754 3,049 the firm is primarily a brand owner, outsourcing most of its manufacturing processes to third-party copackers. It
Insider Sell: Insider Selling primarily uses the Coca-Cola bottling system for distribution after a strategic agreement in which Coke became
2017 742 907 909 810 3,369
Monster's largest shareholder (roughly 19%) and that also included the exchange of certain businesses between the
2018 851 1,016 1,016 924 3,807 two firms. Most of Monster's revenue is generated in the United States, though international geographies are
Good Signs 2019 946 1,104 1,134 1,017 4,201 increasing in the mix as its products' distribution scales across the Coca-Cola network.... (Read More)
2020 Competitors: NYSE:KDP, LSE:CCEP, LSE:CCH, MEX:AC, TSE:2267 , ASX:CCL , TSE:2593 , HKSE:00220 ,
Piotroski F-Score: High TSE:2579, BKK:OSP, SHSE:603156, HKSE:00345, NSE:VBL, LSE:BVIC, XKLS:3689, BKK:CBG, LSE:FEVR,
Quarterly Earnings per Share XSGO:ANDINA-A, NAS:FIZZ, TSX:BCB
Interest Coverage:
Comfortable Mar Jun Sep Dec Full Year Insider Trades
2016 0.26 0.30 0.33 0.30 1.19
Revenue per Share: 2017 0.31 0.39 0.38 0.35 1.43
Consistent growth 2018 0.38 0.48 0.48 0.43 1.77
Operating Margin %: 2019 0.48 0.53 0.55 0.47 2.03
Expansion 2020
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
EPS without NRI: $2.03 2016 0.00 0.00 0.00 0.00 0.00
Growth Rate in the next 10 2017 0.00 0.00 0.00 0.00 0.00
years: 20% 2018 0.00 0.00 0.00 0.00 0.00
Terminal Growth Rate for 10 2019 0.00 0.00 0.00 0.00 0.00
years: 4% 2020
Fair Value: $57.79 Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Reverse DCF Revenue Growth (%) 14.00 8.80 14.80
Expected eps Growth Rate: EBITDA Growth (%) 20.10 15.80 15.50
21.47%
Free Cash Flow Growth (%) 21.50 23.70 19.40
Book Value Growth (%) 26.20 26.50 7.90
EPS Growth (%) 21.80 20.40 17.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MNST 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
0.32 0.60 1.02 1.53 1.77 2.01 2.34 3.04 3.75 4.32 4.71 4.71 5.08 5.84 6.75 7.69 7.69 Revenue per Share
0.06 0.18 0.27 0.39 0.29 0.60 0.64 0.85 1.04 1.15 1.48 1.32 1.88 2.16 2.38 2.57 2.65 EBITDA per Share
0.06 0.18 0.27 0.39 0.28 0.59 0.62 0.82 1.00 1.10 1.43 1.27 1.81 2.08 2.28 2.57 2.57 EBIT per Share
0.04 0.11 0.17 0.25 0.19 0.37 0.38 0.51 0.62 0.65 0.92 0.95 1.19 1.42 1.76 2.03 2.03 Earnings per Share (diluted)
0.04 0.11 0.17 0.25 0.19 0.37 0.38 0.51 0.62 0.65 0.92 0.95 1.19 1.42 1.76 2.03 2.03 eps without NRI
0.03 0.09 0.14 0.25 0.31 0.24 0.35 0.53 0.44 0.54 1.02 1.00 1.04 1.41 1.88 -- 1.89 Owner Earnings per Share (TTM)
0.03 0.09 0.12 0.22 0.32 0.22 0.37 0.54 0.43 0.56 1.08 0.83 0.99 1.55 1.93 -- -- Free Cashflow per Share
0.11 0.24 0.42 0.76 0.80 1.11 1.55 1.87 1.30 1.98 3.01 7.90 5.88 6.88 6.64 7.63 7.71 Book Value per Share
0.08 0.20 0.38 0.71 0.75 1.04 1.47 1.78 1.19 1.85 2.91 5.10 1.70 2.70 2.27 3.27 3.30 Tangible Book per Share
0.00 0.00 0.00 0.00 0.00 -- 0.00 -- -- -- -- -- -- -- -- -- -- Total Debt per Share
0.76 3.28 5.61 7.38 5.59 6.40 8.71 15.36 17.61 22.59 36.12 49.65 44.34 63.29 49.22 -- 63.70 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
43.55 68.20 55.88 46.17 25.17 40.87 30.00 31.67 41.89 41.38 38.54 17.29 17.51 22.72 26.46 28.47 28.19 Return on Equity %
31.36 51.05 41.48 35.03 16.54 26.73 22.53 23.42 28.27 27.49 28.77 14.56 14.66 18.35 21.31 22.90 22.56 Return on Assets %
157 333 266 235 252 340 179 231 226 180 259 307 332 248 246 253 237 Return on Capital %
55.97 137 136 66.05 40.86 108 90.32 131 128 97.82 130 39.85 31.01 30.18 36.87 39.97 39.42 Return on Invested Capital %
8.18 10.21 10.85 14.15 7.08 8.04 6.03 3.47 2.85 1.64 6.07 8.35 10.81 7.52 10.78 -- 9.11 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Effective Interest Rate on Debt %
46.28 52.32 52.26 51.74 52.12 53.56 52.17 52.51 51.71 52.21 54.36 59.95 63.68 63.45 60.29 59.95 59.95 Gross Margin %
18.79 29.65 26.18 25.54 15.82 29.50 26.67 26.80 26.72 25.50 30.33 26.89 35.59 35.58 33.72 33.40 33.40 Operating Margin %
11.30 17.99 16.17 16.52 10.45 18.26 16.26 16.80 16.50 15.08 19.60 20.08 23.37 24.36 26.08 26.37 26.37 Net Margin %
10.42 15.23 11.81 14.20 18.23 11.15 15.85 17.80 11.57 12.91 22.97 17.64 19.55 26.55 28.55 -- -- FCF Margin %
0.01 0.00 0.00 0.00 0.00 -- -- -- -- -- -- -- -- -- -- -- -- Debt to Equity
0.71 0.77 0.73 0.78 0.57 0.73 0.77 0.72 0.62 0.70 0.78 0.86 0.80 0.81 0.80 0.81 0.81 Total Equity to Total Asset
0.01 0.00 0.00 0.00 0.00 -- -- -- -- -- -- -- -- -- -- -- -- Total Debt to Total Asset
128 148 134 110 82.48 78.41 72.28 73.17 88.59 95.21 79.77 43.47 39.94 47.80 49.27 52.05 51.28 Gross Profit to Total Asset %
2.77 2.84 2.57 2.12 1.58 1.46 1.39 1.39 1.71 1.82 1.47 0.73 0.63 0.75 0.82 0.87 0.86 Asset Turnover
25.60 30.08 32.91 30.72 15.97 33.27 28.33 46.88 41.93 48.12 41.57 47.32 53.63 48.70 46.46 46.95 46.95 Days Sales Outstanding
54.79 58.40 43.37 47.47 47.77 33.59 50.14 51.19 46.71 40.59 41.41 48.46 63.70 72.89 60.06 59.46 59.46 Days Accounts Payable
75.45 59.03 68.42 73.24 79.07 77.15 76.48 69.68 65.79 72.18 64.24 55.36 52.42 61.91 64.40 69.26 67.54 Days Inventory
46.26 30.71 57.96 56.49 47.27 76.83 54.67 65.37 61.01 79.71 64.40 54.22 42.35 37.72 50.80 56.75 55.03 Cash Conversion Cycle
4.84 6.18 5.33 4.98 4.62 4.73 4.77 5.24 5.55 5.06 5.68 6.59 6.96 5.90 5.67 5.27 5.40 Inventory Turnover
0.54 0.48 0.48 0.48 0.48 0.46 0.48 0.47 0.48 0.48 0.46 0.40 0.36 0.37 0.40 0.40 0.40 COGS to Revenue
0.11 0.08 0.09 0.10 0.10 0.10 0.10 0.09 0.09 0.09 0.08 0.06 0.05 0.06 0.07 0.08 0.07 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MNST 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
180 349 606 904 1,034 1,143 1,304 1,703 2,061 2,246 2,465 2,723 3,049 3,369 3,807 4,201 4,201 Revenue
96.88 166 289 436 495 531 624 809 995 1,073 1,125 1,090 1,107 1,231 1,512 1,682 1,682 Cost of Goods Sold
83.47 183 317 468 539 612 680 894 1,066 1,173 1,340 1,632 1,942 2,138 2,295 2,519 2,519 Gross Profit
46.28 52.32 52.26 51.74 52.12 53.56 52.17 52.51 51.71 52.21 54.36 59.95 63.68 63.45 60.29 59.95 59.95 Gross Margin %
49.51 79.03 158 237 375 -- 332 -- -- -- -- -- -- -- -- -- -- Selling, General, & Admin. Expense
0.07 0.07 -- -- -- 275 -- 438 515 600 592 900 857 939 1,012 1,116 1,116 Other Operating Expense
33.89 103 159 231 164 337 348 456 551 573 748 732 1,085 1,199 1,284 1,403 1,403 Operating Income
18.79 29.65 26.18 25.54 15.82 29.50 26.67 26.80 26.72 25.50 30.33 26.89 35.59 35.58 33.72 33.40 33.40 Operating Margin %
-- -- -- -- 10.41 -- 2.25 1.62 -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -- -- -- -- -- -2.26 -9.02 -1.68 -2.11 -- -- -- -- -- Interest Expense
-- -- -- -- 10.41 -- 2.25 1.62 -2.26 -9.02 -1.68 -2.11 -- -- -- 13.02 13.02 Net Interest Income
0.05 1.35 3.66 8.77 -0.53 -1.61 -0.76 -0.77 0.79 -- -0.04 161 -5.65 2.84 9.65 -- 4.38 Other Income (Expense)
33.94 105 162 240 173 336 349 457 549 564 746 892 1,080 1,202 1,293 1,416 1,416 Pre-Tax Income
-13.55 -42.02 -64.29 -90.35 -65.45 -127 -137 -171 -209 -225 -263 -345 -367 -381 -300 -308 -308 Tax Provision
39.93 40.10 39.63 37.68 37.73 37.83 39.30 37.41 38.08 39.94 35.21 38.68 33.99 31.70 23.22 21.76 21.76 Tax Rate %
20.39 62.78 97.95 149 108 209 212 286 340 339 483 547 713 821 993 1,108 1,108 Net Income (Continuing Operations)
20.39 62.78 97.95 149 108 209 212 286 340 339 483 547 713 821 993 1,108 1,108 Net Income
11.30 17.99 16.17 16.52 10.45 18.26 16.26 16.80 16.50 15.08 19.60 20.08 23.37 24.36 26.08 26.37 26.37 Net Margin %
0.04 0.12 0.18 0.27 0.20 0.39 0.40 0.54 0.65 0.68 0.96 0.97 1.21 1.45 1.78 2.04 2.04 EPS (Basic)
0.04 0.11 0.17 0.25 0.19 0.37 0.38 0.51 0.62 0.65 0.92 0.95 1.19 1.42 1.76 2.03 2.03 EPS (Diluted)
567 583 592 593 585 568 558 560 549 520 523 578 600 577 564 547 541 Shares Outstanding (Diluted
Average)
0.84 1.08 1.59 2.18 3.47 5.91 11.78 17.08 20.56 22.76 25.65 30.86 40.85 48.89 56.98 -- 62.35 Depreciation, Depletion and
Amortization
34.73 105 160 233 167 343 360 474 571 596 773 763 1,126 1,248 1,341 1,403 1,451 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MNST 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3.68 61.65 35.13 12.44 257 328 355 359 223 211 370 2,175 378 529 638 798 798 Cash And Cash Equivalents
17.30 11.86 102 63.13 29.15 18.49 245 411 97.04 402 781 745 221 673 321 533 533 Marketable Securities
20.98 73.52 137 75.57 286 347 599 771 320 614 1,151 2,920 598 1,202 958 1,331 1,331 Cash, Cash Equivalents, Marketable
Securities
12.65 28.75 54.62 76.12 45.23 104 101 219 237 296 281 353 448 449 485 540 540 Accounts Receivable
6.45 10.23 20.49 32.29 24.45 43.66 61.01 51.10 65.01 68.09 59.94 52.04 58.66 78.83 94.42 -- -- Inventories, Raw Materials &
Components
15.96 21.17 56.53 65.85 91.87 64.48 92.23 105 138 153 115 104 103 177 183 -- -- Inventories, Finished Goods
-0.00 -- -- 0.00 -- -- 0.00 -- -- 0.00 -- -- -- -- -- 361 361 Inventories, Other
22.41 31.40 77.01 98.14 116 108 153 156 203 221 175 156 162 256 278 361 361 Total Inventories
4.35 6.62 6.72 14.95 23.10 21.62 43.79 37.71 75.70 51.82 46.37 45.43 99.11 180 83.74 84.23 84.23 Other Current Assets
60.38 140 275 270 561 586 898 1,183 835 1,183 1,653 3,600 1,432 2,086 1,804 2,316 2,316 Total Current Assets
-- -- -- 227 89.57 80.84 44.19 23.19 21.39 9.79 42.94 15.35 2.39 2.37 -- 12.91 12.91 Investments And Advances
-- -- -- -- 1.42 3.08 3.08 3.63 5.38 5.38 6.79 6.79 46.60 47.37 44.26 -- -- Land And Improvements
0.27 0.58 0.65 -- -- -- -- 3.21 22.00 33.47 37.31 39.85 69.55 107 115 -- -- Buildings And Improvements
5.04 5.27 7.93 11.19 18.05 40.20 51.77 73.14 86.67 111 127 140 164 211 252 -- -- Machinery, Furniture, Equipment
5.31 5.85 8.58 13.22 21.58 45.64 56.85 82.11 116 152 174 190 283 369 417 299 299 Gross Property, Plant and Equipment
-2.35 -2.10 -3.01 -4.65 -7.19 -12.32 -22.30 -36.96 -47.21 -64.32 -83.58 -92.52 -110 -139 -174 -- -- Accumulated Depreciation
2.96 3.74 5.57 8.57 14.39 33.31 34.55 45.15 69.14 88.14 90.16 97.35 173 230 243 299 299 Property, Plant and Equipment
18.35 19.10 21.20 24.07 28.37 33.51 43.32 48.40 54.65 65.77 50.75 1,708 2,364 2,366 2,378 2,384 2,384 Intangible Assets
-- -- -- -- -- -- -- -- -- -- -- 1,280 1,332 1,332 1,332 1,332 1,332 Goodwill
0.33 0.76 6.45 14.74 68.19 66.90 61.92 62.98 63.08 73.76 102 151 181 106 102 139 139 Other Long Term Assets
82.02 164 308 545 762 800 1,082 1,362 1,043 1,421 1,939 5,571 4,153 4,791 4,527 5,150 5,150 Total Assets
14.54 26.61 34.36 56.77 64.79 48.86 85.67 113 127 119 128 145 193 246 249 274 274 Accounts Payable
-- -- -- 6.29 -- 0.76 0.93 11.00 5.47 9.36 5.85 2.75 7.66 10.65 10.19 14.72 14.72 Total Tax Payable
17.96 32.44 55.23 82.22 186 75.90 111 156 172 188 174 240 289 344 371 403 403 Accounts Payable & Accrued
Expense
0.44 0.52 0.30 0.66 0.96 0.21 0.27 -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
-- -- -- -- -- -- 10.14 11.58 12.70 13.83 49.93 32.27 41.67 43.24 44.05 44.24 44.24 Current Deferred Revenue
-- -- -- -- -- -- 10.14 11.58 12.70 13.83 49.93 32.27 41.67 43.24 44.05 44.24 44.24 DeferredTaxAndRevenue
0.35 -- 7.32 -- -- 7.62 7.60 98.10 104 114 132 138 140 173 186 214 214 Other Current Liabilities
18.74 32.96 62.84 82.88 187 83.73 129 266 289 316 356 410 471 560 601 661 661 Total Current Liabilities
0.15 0.01 0.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Long-Term Debt
0.15 0.01 0.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Long-Term Debt & Capital Lease
Obligation
0.01 0.00 0.00 0.00 0.00 -- -- -- -- -- -- -- -- -- -- -- -- Debt to Equity
4.56 5.41 -- 39.56 138 131 125 117 110 112 68.01 352 353 334 312 287 287 NonCurrent Deferred Liabilities
0.00 -- 20.44 0.00 -- -0.00 -- 0.00 -0.00 0.00 0.00 -- -0.00 1.09 2.62 30.51 30.51 Other Long-Term Liabilities
23.45 38.38 83.29 122 326 215 254 383 399 428 424 762 824 896 916 979 979 Total Liabilities
0.06 0.11 0.46 0.48 0.48 0.49 0.49 0.99 1.02 1.03 1.04 3.11 3.12 3.15 3.16 3.18 3.18 Common Stock
43.52 106 204 354 462 670 882 1,169 1,509 1,847 2,331 1,395 2,108 2,928 3,915 5,022 5,022 Retained Earnings
-- -- -- -0.05 -10.83 -4.67 0.28 -1.55 2.07 -1.23 -11.45 -21.88 -23.25 -16.66 -32.86 -32.39 -32.39 Accumulated other comprehensive
income (loss)
15.81 19.92 48.89 96.75 117 137 187 229 288 368 426 3,990 4,051 4,151 4,238 4,398 4,398 Additional Paid-In Capital
-0.82 -0.82 -28.51 -28.66 -132 -218 -242 -418 -1,155 -1,223 -1,231 -556 -2,809 -3,170 -4,512 -5,220 -5,220 Treasury Stock
58.57 126 225 422 436 585 828 979 644 992 1,515 4,809 3,330 3,895 3,611 4,171 4,171 Total Equity
0.71 0.77 0.73 0.78 0.57 0.73 0.77 0.72 0.62 0.70 0.78 0.86 0.80 0.81 0.80 0.81 0.81 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MNST 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
20.39 62.78 97.95 149 108 209 212 286 340 339 483 547 713 821 993 1,108 1,108 Net Income
20.39 62.78 97.95 149 108 209 212 286 340 339 483 547 713 821 993 1,108 1,108 Net Income From Continuing
Operations
0.84 1.08 1.59 2.18 3.47 5.91 11.78 17.08 20.56 22.76 25.65 30.86 40.85 48.89 56.98 -- 62.35 Depreciation, Depletion and
Amortization
-7.16 -16.19 -25.95 -26.75 -54.74 26.61 -8.38 -57.01 -17.78 -50.28 -9.71 -76.73 -106 142 -38.41 -- -38.56 Change In Receivables
-4.76 -8.99 -45.61 -21.13 -19.67 8.55 -44.97 -4.47 -47.57 -21.55 42.76 -7.07 20.88 -88.87 -26.15 -- -60.76 Change In Inventory
-0.16 -0.48 0.34 -3.05 -9.66 2.11 -12.77 3.26 -37.73 19.51 1.05 -20.72 -54.71 -73.73 92.03 -- 2.09 Change In Prepaid Assets
8.02 12.07 7.75 49.13 108 -101 71.16 76.42 27.80 38.85 40.93 394 39.60 34.45 41.57 -- 63.41 Change In Payables And Accrued
Expense
-1.60 -8.53 -3.58 17.31 122 -70.59 -0.50 14.81 -78.44 -8.52 70.32 255 -78.73 -0.89 56.08 -- -54.27 Change In Working Capital
-0.17 -0.95 -10.86 -14.24 -48.93 -6.29 -13.74 -4.51 -22.12 -37.42 -9.85 -182 -19.09 67.94 -0.51 -- 0.54 Change In DeferredTax
-- -- -- 10.25 13.90 14.04 16.86 19.42 28.41 28.76 28.55 32.72 45.85 52.28 57.11 -- 61.57 Stock Based Compensation
0.59 0.27 -8.69 -29.46 0.07 0.53 2.61 0.81 -0.76 -2.20 -0.36 -161 -0.21 -1.16 -0.78 -- -0.60 Cash Flow from Others
20.05 54.65 76.41 135 199 156 229 334 288 342 597 523 701 988 1,162 -- 1,162 Cash Flow from Operations
-1.26 -1.52 -4.90 -4.11 -6.72 -23.55 -12.55 -25.55 -42.94 -40.76 -27.95 -35.61 -99.82 -83.44 -61.94 -- -56.47 Purchase Of Property, Plant,
Equipment
0.03 0.18 0.35 0.26 0.16 0.88 0.12 0.52 0.29 9.02 0.96 0.93 0.81 1.42 4.30 -- 1.10 Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -- -- -- -- -688 -- -- -- -- Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- 198 -- -- -- -- -- Sale Of Business
-23.60 -22.64 -249 -362 -132 -74.98 -317 -616 -607 -557 -1,135 -2,034 -452 -972 -826 -- -951 Purchase Of Investment
6.30 28.08 159 173 288 97.17 129 473 927 265 723 2,098 989 533 1,181 -- 812 Sale Of Investment
-- -- -- -2.92 -4.35 -5.22 -9.85 -5.13 -6.30 -11.18 -3.41 173 -5.52 -9.69 -12.98 -- -12.19 Net Intangibles Purchase And Sale
-0.24 -0.88 -0.88 0.58 -1.72 1.23 -1.44 0.41 0.38 -4.36 1.23 -0.40 0.01 -1.20 -11.81 -- -2.98 Cash From Other Investing Activities
-18.77 3.22 -95.23 -195 144 -4.47 -213 -173 272 -340 -440 400 -256 -532 273 -- -209 Cash Flow from Investing
1.72 1.17 3.88 8.19 2.26 2.50 20.82 20.32 11.02 21.25 17.17 1,697 16.41 52.63 27.85 -- 88.62 Issuance of Stock
-- -- -27.70 -0.15 -103 -86.17 -23.54 -176 -728 -67.60 -8.18 -808 -2,252 -361 -1,342 -- -1,015 Repurchase of Stock
-0.42 -1.06 -1.18 -0.91 -1.17 -1.54 -0.42 -1.94 -2.08 -1.89 -1.62 -1.08 -2.36 -2.58 -1.89 -- -13.25 Net Issuance of Debt
-- -- 17.28 29.45 4.33 3.13 12.37 3.82 19.66 30.35 -- -- -- -- -- -- -- Other Financing
1.30 0.11 -7.71 36.59 -98.05 -82.08 9.24 -154 -699 -17.89 7.37 888 -2,238 -311 -1,316 -- -939 Cash Flow from Financing
2.58 57.98 -26.53 -22.69 244 71.55 26.49 4.49 -137 -11.17 159 1,805 -1,798 151 109 -- 3.90 Net Change in Cash
-1.26 -1.52 -4.90 -7.03 -11.07 -28.77 -22.40 -30.68 -49.24 -51.94 -31.36 -42.49 -105 -93.13 -74.93 -- -68.66 Capital Expenditure
18.79 53.13 71.51 128 188 127 207 303 238 290 566 480 596 895 1,087 -- -- Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MNST 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
21.46 30.28 34.35 29.32 30.77 17.30 22.82 30.12 28.40 34.58 38.98 53.20 37.26 44.26 27.81 -- 31.36 PE Ratio(TTM)
23.75 36.04 39.51 29.06 17.86 26.67 24.89 28.87 39.66 41.53 35.31 49.85 42.51 44.76 26.22 -- 33.74 Price to Owner Earnings
(TTM)
6.79 13.90 13.45 9.77 6.95 5.79 5.61 8.20 13.59 11.39 12.00 6.28 7.54 9.20 7.41 -- 8.25 Price to Book
9.87 16.40 14.88 10.37 7.43 6.14 5.92 8.63 14.85 12.20 12.41 9.74 26.02 23.43 21.69 -- 19.30 Price to Tangible Book
23.03 36.44 47.14 34.01 17.25 28.57 23.54 28.29 40.58 40.56 33.38 61.15 44.16 40.91 25.48 -- 32.08 Price-to-Free-Cash-Flow
Ratio
21.11 34.89 43.83 32.37 16.30 23.19 21.24 25.73 33.54 34.38 31.60 56.04 37.51 37.03 23.84 -- 30.17 Price-to-Operating-Cash-
Flow Ratio
2.38 5.50 5.51 4.84 3.16 3.18 3.73 5.05 4.69 5.23 7.66 10.49 8.71 10.86 7.29 -- 8.53 PS Ratio
1.14 0.47 0.31 0.25 0.38 0.44 0.91 1.20 1.07 1.17 1.95 3.70 2.57 2.65 1.65 -- 2.06 PEG Ratio
2.09 4.80 4.78 4.48 2.66 2.66 3.11 4.26 4.09 4.76 6.91 10.03 8.04 10.28 6.78 -- 7.81 EV-to-Revenue
10.88 16.02 18.07 17.38 16.44 8.85 11.27 15.33 14.77 17.95 22.02 35.78 21.78 27.76 19.25 -- 22.66 EV-to-EBITDA
11.15 16.18 18.26 17.54 16.79 9.01 11.65 15.91 15.33 18.66 22.77 37.29 22.60 28.90 20.10 -- 23.41 EV-to-EBIT
8.97 6.18 5.48 5.70 5.96 11.10 8.58 6.29 6.52 5.36 4.39 2.68 4.42 3.46 4.98 -- 4.26 Return on Capital %
19.96 20.83 20.87 21.19 22.67 22.92 22.83 22.10 22.13 21.88 21.60 15.72 16.22 18.24 19.38 -- 19.26 Forward Rate of Return
80.46 150 143 113 67.89 52.77 53.86 70.63 63.59 65.31 83.40 96.08 70.81 83.48 52.95 -- 59.41 Shiller PE Ratio
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
398 1,747 3,031 4,127 3,032 3,385 4,650 8,031 8,758 11,306 18,174 30,222 25,122 35,841 26,760 -- 34,200 Market Cap
378 1,674 2,895 4,052 2,747 3,039 4,051 7,260 8,438 10,692 17,023 27,302 24,523 34,639 25,802 -- 32,895 Enterprise Value
0.76 3.28 5.61 7.38 5.59 6.40 8.71 15.36 17.61 22.59 36.12 49.65 44.34 63.29 49.22 -- 63.70 Month End Stock Price
-- 0.07 0.10 -0.08 -0.07 0.25 0.65 0.74 -0.16 0.37 1.45 3.55 -0.40 0.54 0.08 0.64 0.65 Net Cash (per share)
0.07 0.19 0.36 0.26 0.43 0.70 1.21 1.53 0.88 1.51 2.44 4.66 1.07 2.10 1.63 2.45 2.47 Net Current Asset Value
(per share)
0.03 0.14 0.25 0.11 0.10 0.50 0.93 1.20 0.40 1.04 2.04 4.11 0.34 1.36 1.00 1.72 1.73 Net-Net Working Capital (per
share)
0.20 0.51 0.96 1.72 2.60 3.43 4.61 5.98 6.56 7.97 10.47 14.59 14.58 17.68 22.61 -- -- Projected FCF (per share)
0.17 0.36 0.68 1.29 2.02 5.07 7.33 10.65 14.90 19.69 23.48 24.74 26.71 30.86 41.69 -- 57.70 Median PS (per share)
0.66 2.71 4.08 6.29 4.54 9.25 9.54 12.75 15.50 16.33 18.55 13.41 17.23 23.90 29.86 -- 34.05 Peter Lynch Fair Value (per
share)
0.25 0.70 1.18 2.01 1.77 2.94 3.55 4.52 4.07 5.20 7.76 10.44 6.75 9.29 9.48 12.22 12.28 Graham Number (per share)
0.23 0.49 0.95 1.44 2.59 3.41 4.48 5.55 5.47 6.94 8.95 11.03 8.77 11.50 13.92 -- 16.59 Earnings Power Value
(EPV)
15.10 33.24 27.29 24.66 9.13 14.18 15.26 16.94 19.55 21.31 30.76 25.86 20.88 26.78 20.84 -- 23.65 Altman Z-Score
7.00 7.00 5.00 3.00 6.00 7.00 6.00 6.00 4.00 9.00 7.00 5.00 5.00 8.00 6.00 -- 8.00 Piotroski F-Score
-1.77 -1.45 -1.57 -0.10 -3.82 -0.72 -- -2.06 -1.95 -2.12 -2.76 -1.36 -2.05 -2.70 -- -- -- Beneish M-Score
0.80 0.64 0.54 1.13 0.28 0.31 0.29 0.19 0.24 0.36 0.26 0.97 0.49 0.65 0.55 0.63 0.55 Scaled Net Operating
Assets
23.29 3.00 37.87 38.32 -30.91 7.12 18.07 9.21 -21.04 23.68 16.82 -6.75 6.44 7.61 -9.76 21.51 11.94 Sloan Ratio (%)
3.22 4.26 4.38 3.26 3.00 6.99 6.97 4.44 2.89 3.74 4.65 8.77 3.04 3.72 3.00 3.50 3.50 Current Ratio
2.03 3.30 3.15 2.08 2.38 5.70 5.78 3.86 2.19 3.04 4.16 8.39 2.70 3.27 2.54 2.96 2.96 Quick Ratio
0.76 3.61 8.56 11.35 7.53 7.27 9.07 16.19 26.24 22.60 37.52 52.41 54.17 64.23 68.91 -- 70.52 Highest Stock Price
0.17 0.70 3.28 5.49 3.50 4.71 6.23 8.66 13.69 15.40 21.09 36.05 38.94 41.44 47.95 -- 52.23 Lowest Stock Price
-4.75 -1.68 -1.45 -3.48 2.99 2.48 -0.93 2.07 4.88 -0.63 -0.54 -20.97 6.92 0.05 3.99 -0.54 0.45 Shares Buyback Ratio (%)
48.60 88.36 70.95 48.93 15.87 13.92 16.05 30.18 23.38 15.11 9.15 -0.04 7.89 14.81 15.59 13.90 13.83 YoY Rev. per Sh. Growth
(%)
213 202 52.31 52.53 -26.49 99.10 3.17 34.21 21.57 4.84 41.54 3.26 25.26 19.33 23.94 15.34 14.69 YoY EPS Growth (%)
205 193 51.40 45.02 -27.48 112 6.62 31.37 22.93 10.10 29.17 -10.68 42.17 15.12 9.90 8.04 11.56 YoY EBITDA Growth (%)
18.76 64.84 109 117 80.99 39.01 25.00 25.10 26.51 29.64 20.02 14.37 14.48 16.71 16.87 -- 15.80 EBITDA 5-Y Growth (%)
512 529 540 547 555 540 531 529 521 500 502 566 588 567 557 542 537 Shares Outstanding (Basic
Average)
524 533 540 559 542 529 534 523 497 500 503 609 567 566 544 547 537 Shares Outstanding (EOP)
0.66 0.97 1.02 1.69 0.81 0.70 0.46 0.26 0.18 -0.23 0.65 1.01 1.39 0.85 1.35 1.31 1.33 Beta
03/16/05 03/15/06 06/06/07 02/29/08 03/02/09 03/01/10 03/01/11 02/29/12 03/01/13 03/03/14 03/02/15 02/29/16 03/01/17 03/01/18 02/28/19 02/27/20 Filing Date
03/15/06 06/06/07 06/06/07 03/02/09 03/01/11 03/01/10 03/01/13 03/03/14 03/02/15 02/29/16 03/01/17 03/01/18 02/28/19 02/28/19 02/28/19 02/27/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MNST 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MNST 7/7
State Street Corporation (NYSE:STT) 03/03/2020 2:01PM EST GuruFocus
Price: $ 65.64 -3.05(-4.44%) Market Cap: $ 23.26 B Enterprise Value: $-87,445 Stock PDF
Financial Strength : 3/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 11.41
Cash to Debt 5.48 Net-margin (%) 21.10
Forward P/E N/A
Equity to Asset 0.10 ROE (%) 8.04
F-Score: PE(NRI) 11.41
ROA (%) 0.93
9999 P/B 1.10
M-Score: Revenue Growth (3Y)(%) 6.50
-2.50 P/S 2.30
EPS Growth (3Y)(%) 2.70
PFCF 4.87
POCF 4.25
Shiller P/E 12.92
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Declined Mar Jun Sep Dec Full Year State Street is a leading provider of financial services, including investment servicing, investment management, and
investment research and trading. With over $34 trillion in assets under custody and administration and $3.1 trillion
2016 2,260 2,348 2,382 2,334 9,324 assets under management as of Dec. 31, 2019, State Street operates globally in more than 100 geographic markets
Insider Sell: Insider Selling
2017 2,436 2,570 2,607 2,682 10,295 and employs more than 40,000 worldwide.... (Read More)
, , , , , , , ,
2018 2,775 2,777 2,727 2,727 11,006 Competitors: NYSE:KKR XSWX:PGHN NAS:TROW NYSE:AMP NAS:NTRS NYSE:APO MIL:EXO NAS:CG
TPE:2882, XPAR:AMUN, XBRU:GBLB, OSTO:EQT, LSE:SDR, NYSE:BK, XAMS:HAL, NYSE:BEN, OSTO:INDU A,
DCF 2019 2,672 2,612 2,631 2,712 10,627 OSTO:LATO B, OSTO:LUND B, OSTO:INVE A
2020
GuruFocus does not
Insider Trades
calculate intrinsic value: DCF Quarterly Earnings per Share
(Earnings Based) for
Mar Jun Sep Dec Full Year
companies with one star
2016 0.79 1.47 1.29 1.43 4.98
predictability or not rated. But
2017 1.15 1.53 1.66 0.89 5.23
you can go to each stock's
2018 1.62 1.88 1.87 1.04 6.41
DCF page to calculate
2019 1.18 1.42 1.42 1.73 5.75
yourself.
2020
Quarterly Dividends Per Share
Reverse DCF
Mar Jun Sep Dec Full Year
GuruFocus does not
2016 0.34 0.34 0.38 0.38 1.44
calculate reverse DCF growth
2017 0.38 0.38 0.42 0.42 1.60
rate for companies with one
2018 0.42 0.42 0.47 0.47 1.78
star predictability or not rated.
2019 0.47 0.47 0.52 0.52 1.98
But you can go to each
2020
stock's DCF page to calculate
yourself. Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 5.30 6.60 -2.70
EBITDA Growth (%) 0.00 0.00 0.00
Free Cash Flow Growth (%) 0.00 0.00 -47.80
Book Value Growth (%) 6.00 5.60 8.40
EPS Growth (%) 0.00 5.80 -15.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STT 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
14.53 16.36 18.80 22.81 25.99 20.66 16.67 17.86 18.60 19.79 21.64 22.85 23.54 27.12 29.23 28.43 28.44 Revenue per Share
2.35 2.50 3.29 3.45 4.30 -4.32 3.09 3.79 4.20 4.43 4.53 4.47 4.97 5.19 6.39 5.38 5.75 Earnings per Share (diluted)
2.35 2.82 3.26 3.45 4.30 -4.32 3.09 3.79 4.20 4.43 4.53 4.47 4.97 5.19 6.39 5.38 5.75 eps without NRI
2.47 2.77 2.28 3.48 2.44 -5.01 1.33 5.74 2.73 -6.00 -2.74 -5.86 3.41 16.20 24.04 12.71 12.71 Owner Earnings per Share (TTM)
0.24 6.48 2.00 6.74 -6.34 -9.61 1.13 6.20 3.28 -5.30 -2.29 -5.09 4.23 16.58 25.41 13.27 13.46 Free Cashflow per Share
0.64 0.72 0.80 0.88 0.95 0.04 0.04 0.72 0.96 1.04 1.16 1.32 1.44 1.60 1.78 1.98 1.98 Dividends per Share
18.46 19.08 21.82 29.25 25.21 29.28 35.46 38.77 44.43 45.81 46.65 46.04 47.19 52.01 55.40 60.07 60.07 Book Value per Share
12.49 13.70 16.35 12.28 10.45 16.43 19.13 22.15 25.87 26.47 27.74 27.43 27.38 31.24 29.56 33.25 33.25 Tangible Book per Share
11.39 11.62 16.40 23.80 50.97 58.67 34.38 26.46 26.01 31.05 34.74 33.16 34.08 34.72 37.33 37.35 37.35 Total Debt per Share
49.12 55.44 67.44 81.20 39.33 43.54 46.34 40.31 47.01 73.39 78.50 66.36 77.72 97.61 63.07 79.10 65.64 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
13.41 11.53 16.24 13.59 14.86 -14.99 9.54 10.12 10.03 9.78 9.39 8.71 9.30 9.06 10.22 8.17 8.04 Return on Equity %
0.88 0.75 1.08 1.01 1.15 -1.13 0.98 1.02 0.94 0.88 0.78 0.76 0.88 0.90 1.07 0.91 0.93 Return on Assets %
12.29 16.15 14.04 14.91 8.15 5.55 6.98 7.62 7.58 10.34 7.38 6.71 7.89 9.03 10.74 10.80 10.16 Weighted Average Cost Of Capital (WACC) %
24.88 52.69 68.90 47.56 14.28 2.83 3.30 4.07 3.83 3.23 2.81 2.89 3.26 4.69 7.35 9.99 9.23 Effective Interest Rate on Debt %
16.18 13.19 17.52 15.13 16.75 -19.20 18.75 21.67 23.04 22.76 21.63 20.95 22.98 20.91 23.57 21.10 21.10 Net Margin %
1.62 39.63 10.63 29.55 -24.38 -46.51 6.76 34.71 17.64 -26.78 -10.57 -22.28 17.98 61.13 86.94 46.68 46.67 FCF Margin %
0.62 0.61 0.75 0.81 1.72 2.00 0.97 0.67 0.57 0.66 0.68 0.63 0.61 0.57 0.57 0.55 0.55 Debt to Equity
0.07 0.07 0.07 0.08 0.07 0.09 0.11 0.09 0.09 0.08 0.08 0.09 0.09 0.09 0.10 0.10 0.10 Total Equity to Total Asset
0.04 0.04 0.05 0.06 0.13 0.18 0.11 0.06 0.05 0.06 0.05 0.05 0.05 0.05 0.06 0.05 0.05 Total Debt to Total Asset
5.43 5.70 6.15 6.67 6.84 5.91 5.21 4.70 4.07 3.87 3.61 3.64 3.82 4.29 4.56 4.33 4.41 Gross Profit to Total Asset %
0.05 0.06 0.06 0.07 0.07 0.06 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.05 0.04 0.04 Asset Turnover
0.27 0.26 0.25 0.26 0.22 -- 0.01 0.19 0.23 0.24 0.26 0.30 0.29 0.31 0.28 0.37 0.37 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STT 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,933 5,473 6,311 8,336 10,815 9,795 8,300 8,862 8,947 9,007 9,348 9,452 9,325 10,310 11,003 10,625 10,627 Revenue
4,933 5,473 6,311 8,336 10,815 9,795 8,300 8,862 8,947 9,007 9,348 9,452 9,325 10,310 11,003 10,625 10,627 Gross Profit
1,957 2,231 2,652 3,256 5,119 4,276 4,230 4,596 4,681 4,815 5,116 5,379 5,665 5,728 6,307 6,182 6,296 Selling, General, & Admin. Expense
2,976 3,242 3,659 5,080 5,696 5,519 4,070 4,266 4,266 4,192 4,232 4,073 3,660 4,582 4,696 4,443 4,331 Other Operating Expense
1,787 2,930 4,324 5,212 4,879 3,286 3,462 2,946 3,014 2,714 2,652 2,488 2,512 2,908 3,662 3,941 3,941 Interest Income
-928 -2,023 -3,214 -3,482 -2,229 -722 -763 -613 -476 -411 -392 -400 -428 -604 -991 -1,375 -1,375 Interest Expense
859 907 1,110 1,730 2,650 2,564 2,699 2,333 2,538 2,303 2,260 2,088 2,084 2,304 2,671 2,566 2,566 Net Interest Income
1,192 1,432 1,771 1,903 2,842 2,525 2,086 2,536 2,766 2,666 2,437 2,298 2,120 2,995 3,101 2,712 2,712 Other Income (Expense)
-- -- -- -- -- -- -- -- -- -- -- -- 1.00 -- -- -- -- Other Income (Minority Interest)
1,192 1,432 1,771 1,903 2,842 2,525 2,086 2,536 2,766 2,666 2,437 2,298 2,120 2,995 3,101 2,712 2,712 Pre-Tax Income
-394 -487 -675 -642 -1,031 -722 -530 -616 -705 -616 -415 -318 22.00 -839 -508 -470 -470 Tax Provision
33.05 34.01 38.11 33.74 36.28 28.59 25.41 24.29 25.49 23.11 17.03 13.84 -1.04 28.01 16.38 17.33 17.33 Tax Rate %
798 945 1,096 1,261 1,811 1,803 1,556 1,920 2,061 2,050 2,022 1,980 2,142 2,156 2,593 2,242 2,242 Net Income (Continuing Operations)
-- -223 10.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
798 722 1,106 1,261 1,811 -1,881 1,556 1,920 2,061 2,050 2,022 1,980 2,143 2,156 2,593 2,242 2,242 Net Income
16.18 13.19 17.52 15.13 16.75 -19.20 18.75 21.67 23.04 22.76 21.63 20.95 22.98 20.91 23.57 21.10 21.10 Net Margin %
-- -- -- -- -- -- -- 20.00 29.00 26.00 61.00 130 173 182 188 232 232 Preferred dividends
2.38 2.53 3.34 3.50 4.32 -4.32 3.11 3.82 4.25 4.52 4.62 4.53 5.03 5.26 6.46 5.43 5.83 EPS (Basic)
2.35 2.50 3.29 3.45 4.30 -4.32 3.09 3.79 4.20 4.43 4.53 4.47 4.97 5.19 6.39 5.38 5.75 EPS (Diluted)
340 335 336 365 416 474 498 496 481 455 432 414 396 380 376 374 366 Shares Outstanding (Diluted
Average)
639 499 385 130 282 321 230 418 489 675 699 801 929 1,085 1,203 1,337 1,337 Depreciation, Depletion and
Amortization
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STT 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
22,669 13,959 7,604 10,312 58,914 29,273 25,545 67,989 61,176 81,360 113,709 78,016 74,617 69,927 77,664 73,199 73,199 Cash And Cash Equivalents
-- -- -- -- -- -- -- 99,832 109,682 99,174 94,913 70,070 61,998 57,121 45,148 53,815 53,815 Marketable Securities
22,669 13,959 7,604 10,312 58,914 29,273 25,545 167,821 170,858 180,534 208,622 148,086 136,615 127,048 122,812 127,014 127,014 Cash, Cash Equivalents,
Marketable Securities
-- -- -- -- -- -- -- 431 2,481 3,073 2,755 3,364 3,530 3,447 3,511 3,663 3,663 Accounts Receivable
23,873 15,323 9,221 12,408 60,652 30,770 27,278 171,063 173,624 184,139 211,991 172,036 161,495 130,780 126,983 131,322 131,322 Total Current Assets
38,316 60,634 65,777 75,546 76,832 93,724 94,609 110,920 123,103 119,401 115,358 102,905 100,554 100,931 90,804 99,410 99,410 Investments And Advances
1,444 1,453 1,560 1,894 4,769 4,999 5,268 5,420 5,765 6,277 6,536 6,714 5,395 6,067 6,366 7,507 7,507 Gross Property, Plant and
Equipment
-- -- -- -- -2,758 -3,046 -3,425 -3,673 -4,037 -4,417 -4,599 -4,820 -3,333 -3,881 -4,152 -4,367 -4,367 Accumulated Depreciation
1,444 1,453 1,560 1,894 2,011 1,953 1,843 1,747 1,728 1,860 1,937 1,894 2,062 2,186 2,214 3,140 3,140 Property, Plant and Equipment
1,991 1,796 1,818 6,557 6,378 6,360 8,190 8,104 8,516 8,396 7,851 7,439 7,564 7,635 9,815 9,586 9,586 Intangible Assets
-- -- -- -- 4,527 4,550 5,597 5,645 5,977 6,036 5,826 5,671 5,814 6,022 7,446 7,556 7,556 Goodwill
28,416 18,762 28,977 46,138 27,758 25,139 28,585 -75,007 -84,389 -70,505 -63,018 -39,119 -28,977 -3,107 14,780 2,152 2,152 Other Long Term Assets
94,040 97,968 107,353 142,543 173,631 157,946 160,505 216,827 222,582 243,291 274,119 245,155 242,698 238,425 244,596 245,610 245,610 Total Assets
2,603 2,632 3,143 4,392 -- -- -- -- -- -- -- -- -- -- -- -- -- Total Tax Payable
2,603 2,632 3,143 4,392 14,380 9,281 11,782 18,017 17,196 19,194 20,382 14,643 16,901 15,606 24,232 24,857 24,857 Accounts Payable & Accrued
Expense
1,343 1,219 2,835 5,557 17,597 20,200 8,694 4,766 4,502 3,780 4,381 1,754 1,585 1,144 3,092 839 839 Current Portion of Long-Term
Debt
3,946 3,851 5,978 9,949 31,977 29,481 20,476 22,783 21,698 22,974 24,763 16,397 18,486 16,750 27,324 25,696 25,696 Total Current Liabilities
2,458 2,659 2,616 3,636 4,419 8,838 8,550 7,437 6,723 8,911 9,273 11,163 11,137 11,370 10,903 12,373 12,373 Long-Term Debt
-- -- -- -- -- -- -- 694 706 788 769 334 293 250 190 136 136 Capital Lease Obligation
2,458 2,659 2,616 3,636 4,419 8,838 8,550 8,131 7,429 9,699 10,042 11,497 11,430 11,620 11,093 12,509 12,509 Long-Term Debt & Capital
Lease Obligation
0.62 0.61 0.75 0.81 1.72 2.00 0.97 0.67 0.57 0.66 0.68 0.63 0.61 0.57 0.57 0.55 0.55 Debt to Equity
-- -- -- -- -- -- -- -- -- -- -- 32.00 -- -- -- -- -- Minority Interest
81,477 85,091 91,507 117,659 124,461 105,136 113,692 166,515 172,586 190,240 217,986 196,126 191,563 187,738 181,442 182,974 182,974 Other Long-Term Liabilities
87,881 91,601 100,101 131,244 160,857 143,455 142,718 197,429 201,713 222,913 252,791 224,020 221,479 216,108 219,859 221,179 221,179 Total Liabilities
337 337 337 398 432 495 502 504 504 504 504 504 504 504 504 504 504 Common Stock
-- -- -- -- 1,883 -- -- 500 489 491 1,961 2,703 3,196 3,196 3,690 2,962 2,962 Preferred Stock
5,590 6,189 7,030 7,745 9,135 7,071 8,634 10,176 11,751 13,395 14,737 16,049 17,459 18,856 20,553 21,918 21,918 Retained Earnings
92.00 -231 -224 -575 -5,650 -2,238 -689 -659 360 -95.00 -507 -1,442 -2,040 -1,009 -1,356 -876 -876 Accumulated other
comprehensive income (loss)
289 266 399 4,630 6,992 9,180 9,356 9,557 9,667 9,776 9,791 9,746 9,782 9,799 10,061 10,132 10,132 Additional Paid-In Capital
-149 -194 -290 -899 -18.00 -17.00 -16.00 -680 -1,902 -3,693 -5,158 -6,457 -7,682 -9,029 -8,715 -10,209 -10,209 Treasury Stock
6,159 6,367 7,252 11,299 12,774 14,491 17,787 19,398 20,869 20,378 21,328 21,103 21,219 22,317 24,737 24,431 24,431 Total Equity
0.07 0.07 0.07 0.08 0.07 0.09 0.11 0.09 0.09 0.08 0.08 0.09 0.09 0.09 0.10 0.10 0.10 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STT 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
798 838 1,106 1,261 1,811 -1,881 1,556 1,920 2,061 2,050 2,022 1,980 2,143 2,156 2,593 2,242 2,242 Net Income
798 838 1,106 1,261 1,811 -1,881 1,556 1,920 2,061 2,050 2,022 1,980 2,143 2,156 2,593 2,242 2,242 Net Income From Continuing
Operations
639 499 385 130 282 321 230 418 489 675 699 801 929 1,085 1,203 1,337 1,337 Depreciation, Depletion and
Amortization
-- -- -- -- -- 241 -236 -89.00 -148 -153 -119 -104 -298 -455 26.00 -28.00 -28.00 Change In Receivables
-- -- -- -- -- -- 61.00 -147 -250 133 -635 -48.00 -1,147 33.00 394 294 294 Change In Payables And Accrued
Expense
-340 -19.00 -179 195 -689 1,965 -2,013 604 -1,149 -5,219 -3,627 -4,601 -923 3,261 6,121 1,820 1,820 Change In Working Capital
-- -- -- -- -- -1,961 1,244 218 231 128 60.00 -168 -358 92.00 -136 -130 -130 Change In DeferredTax
-681 1,165 -331 1,353 -3,360 -2,675 -194 214 301 342 285 585 499 346 394 421 421 Cash Flow from Others
416 2,483 981 2,939 -1,956 -4,231 823 3,374 1,933 -2,024 -561 -1,403 2,290 6,940 10,175 5,690 5,690 Cash Flow from Operations
-336 -314 -310 -476 -681 -325 -262 -298 -355 -388 -427 -703 -613 -637 -609 -730 -730 Purchase Of Property, Plant,
Equipment
-- -- -- -- -38.00 -- -2,332 -214 -511 -- -- -- -437 -- -2,595 -54.00 -54.00 Purchase Of Business
-- -- -- -- 464 -- -- -- -- 18.00 -- -- -- -- -- -- -- Sale Of Business
-32,185 -49,381 -31,165 -31,141 -42,348 -60,621 -66,025 -79,274 -64,640 -47,784 -47,106 -35,161 -39,230 -43,846 -38,679 -45,749 -45,749 Purchase Of Investment
24,529 36,209 21,763 27,340 39,465 56,767 68,911 64,735 52,950 49,870 49,103 44,176 39,413 45,517 47,023 36,439 36,439 Sale Of Investment
537 7,534 3,521 -7,115 -26,432 35,811 2,900 -38,844 7,965 -15,801 -30,062 16,683 5,097 -986 -9,636 7,468 7,468 Cash From Other Investing Activities
-7,455 -5,952 -6,191 -11,392 -29,570 31,632 3,192 -53,895 -4,591 -14,085 -28,492 24,995 4,230 48.00 -4,496 -2,626 -2,626 Cash Flow from Investing
-- -- -- -- 2,886 2,231 -- 9.00 -- -- -- -- -- -- 1,150 -- -- Issuance of Stock
-65.00 -88.00 -175 -817 -- -60.00 -44.00 -738 -1,541 -2,229 -1,882 -1,742 -1,487 -1,418 -474 -1,666 -1,666 Repurchase of Stock
-- -- -- -- -- -2,000 -- 500 488 -- 1,470 742 493 -- 495 -750 -- Net Issuance of Preferred Stock
-1,612 -116 -669 -6,839 9,751 -5,799 -11,574 -9,055 -2,370 1,196 1,781 -5,246 -217 -1,745 -278 -1,140 -1,140 Net Issuance of Debt
-209 -232 -259 -301 -399 -168 -20.00 -295 -463 -486 -539 -655 -723 -768 -828 -930 -930 Cash Flow for Dividends
7,584 4,554 5,997 18,775 18,428 -22,145 8,293 58,991 6,941 18,258 26,858 -17,339 -4,479 -2,257 -4,536 762 Other Financing
1,512
5,698 4,118 4,894 10,818 30,666 -27,941 -3,345 49,403 3,055 16,739 27,688 -24,240 -6,413 -6,188 -4,471 -2,974 -2,974 Cash Flow from Financing
-1,341 649 -316 2,365 -860 -540 670 -1,118 397 630 -1,365 -648 107 800 1,208 90.00 90.00 Net Change in Cash
-336 -314 -310 -476 -681 -325 -262 -298 -355 -388 -427 -703 -613 -637 -609 -730 -730 Capital Expenditure
80.00 2,169 671 2,463 -2,637 -4,556 561 3,076 1,578 -2,412 -988 -2,106 1,677 6,303 9,566 4,960 4,960 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STT 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
20.90 22.18 20.50 23.54 9.15 -- 14.95 10.64 11.22 15.92 16.74 14.85 15.61 18.66 9.84 13.76 11.41 PE Ratio(TTM)
19.89 20.03 29.64 23.31 16.09 -- 34.89 7.03 17.24 -- -- -- 22.83 6.03 2.62 6.22 5.17 Price to Owner Earnings
(TTM)
2.66 2.91 3.09 2.78 1.56 1.49 1.31 1.04 1.06 1.60 1.68 1.44 1.65 1.88 1.14 1.32 1.10 Price to Book
3.93 4.05 4.13 6.61 3.76 2.65 2.42 1.82 1.82 2.77 2.83 2.42 2.84 3.12 2.13 2.38 1.97 Price to Tangible Book
255 8.51 33.82 13.04 -- -- 41.26 6.35 14.02 -- -- -- 19.37 5.89 2.49 5.88 4.87 Price-to-Free-Cash-Flow
Ratio
41.59 7.44 23.14 10.78 -- -- 28.12 5.80 11.49 -- -- -- 13.98 5.35 2.34 5.13 4.25 Price-to-Operating-Cash-
Flow Ratio
3.38 3.39 7.15 3.58 1.51 1.78 2.80 2.26 2.53 3.71 3.63 2.90 3.30 3.60 2.16 2.78 2.30 PS Ratio
1.71 2.18 -- -- 14.76 -- -- -- -- 2.24 0.70 1.54 3.00 3.24 -- -- -- PEG Ratio
-0.50 1.54 6.39 3.63 -1.67 1.83 1.81 -15.22 -15.30 -14.96 -17.08 -11.17 -9.73 -7.30 -7.36 -7.76 -8.24 EV-to-Revenue
-1.35 4.36 20.07 14.45 -5.77 9.86 6.50 -9.40 -5.95 -6.48 -14.80 -10.98 -8.64 -4.39 -- -- -- EV-to-EBITDA
15.22 13.60 2.46 -3.22 6.17 5.40 -11.43 -3.04 -5.04 6.60 20.89 8.70 5.47 7.51 -- -- -- Forward Rate of Return
25.87 26.25 28.16 30.19 13.39 18.64 18.86 15.16 17.22 24.73 24.99 20.03 22.32 26.39 16.12 15.57 12.92 Shiller PE Ratio
1.30 1.30 1.19 1.08 2.42 0.09 0.09 1.79 2.04 1.42 1.48 1.99 1.85 1.64 2.82 2.50 3.00 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16,389 18,496 22,420 31,366 16,989 21,549 23,246 19,648 21,562 31,861 32,593 26,521 29,684 35,886 23,963 28,269 23,259 Market Cap
-2,479 8,415 20,267 30,247 -18,026 21,314 14,945 -134,776 -136,876 -134,703 -159,645 -105,579 -90,720 -75,202 -80,974 -82,435 -87,445 Enterprise Value
49.12 55.44 67.44 81.20 39.33 43.54 46.34 40.31 47.01 73.39 78.50 66.36 77.72 97.61 63.07 79.10 65.64 Month End Stock Price
-195 -233 -278 -313 -236 -231 -234 -60.74 -67.27 -97.62 -106 -190 -222 -242 -255 -263 -263 Net Cash (per share)
-195 -233 -278 -313 -240 -231 -234 -61.11 -64.28 -93.44 -106 -191 -224 -244 -258 -264 -264 Net-Net Working Capital (per
share)
29.03 40.66 41.15 52.76 38.30 17.54 24.31 30.36 37.39 20.96 29.95 40.23 47.13 66.01 106 142 142 Projected FCF (per share)
54.79 61.79 36.52 90.01 96.55 87.71 55.47 56.44 54.08 58.79 67.93 70.49 67.26 77.37 87.17 84.77 84.77 Median PS (per share)
28.74 25.41 42.00 22.13 32.55 -33.47 48.36 57.08 -- 31.47 108 43.22 25.90 30.12 -- -- -- Peter Lynch Fair Value (per
share)
25.70 29.48 34.63 30.87 31.79 -- 36.47 43.46 49.44 51.36 53.17 52.52 55.34 60.40 65.19 63.44 65.59 Graham Number (per share)
50.55 24.46 0.38 -3.11 77.94 -8.26 7.84 308 331 367 451 322 306 291 269 294 294 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-2.38 -2.39 -2.58 -1.15 -2.66 -2.38 5.91 -2.73 1.88 -2.17 -2.54 -2.07 -2.43 -2.42 -2.70 -2.50 -2.50 Beneish M-Score
-0.15 -0.04 0.05 0.10 -0.17 0.08 0.06 -0.22 -0.13 -0.21 -0.32 -0.16 -0.17 -0.14 -0.16 -0.15 -0.15 Scaled Net Operating
Assets
8.33 4.28 5.88 6.81 19.20 -18.54 -1.53 24.19 2.12 7.46 11.34 -8.82 -1.80 -2.03 -1.26 -0.33 -0.33 Sloan Ratio (%)
56.45 59.29 68.36 82.24 85.37 55.17 48.07 50.06 47.01 73.39 80.33 80.84 81.44 99.29 113 80.42 85.89 Highest Stock Price
41.07 40.68 54.49 59.48 28.69 14.89 32.81 30.38 38.78 47.01 63.19 64.73 50.79 75.97 59.78 48.81 48.62 Lowest Stock Price
0.25 0.01 0.36 -16.20 -11.83 -14.58 -1.36 2.83 5.90 5.35 4.36 3.74 4.43 3.74 -3.34 5.94 5.94 Shares Buyback Ratio (%)
2.89 12.59 14.94 21.33 13.96 -20.50 -19.33 7.17 4.10 6.42 9.35 5.60 3.03 15.18 7.78 -2.71 -2.75 YoY Rev. per Sh. Growth
(%)
9.30 6.38 31.60 4.86 24.64 -200 172 22.65 10.82 5.48 2.26 -1.32 11.19 4.43 23.12 -15.81 -10.30 YoY EPS Growth (%)
12.23 9.01 -1.42 -7.83 0.62 7.73 -7.24 -2.71 -4.77 7.12 23.80 9.67 5.20 5.76 -- -- -- EBITDA 5-Y Growth (%)
335 330 331 361 413 471 495 493 474 446 424 408 391 375 372 370 361 Shares Outstanding (Basic
Average)
334 334 332 386 432 495 502 487 459 434 415 400 382 368 380 357 357 Shares Outstanding (EOP)
1.24 1.35 1.24 0.97 1.12 1.34 1.34 1.64 1.52 1.71 1.20 1.11 1.27 1.39 1.74 1.68 1.68 Beta
02/18/05 02/21/06 02/20/07 02/15/08 02/27/09 02/22/10 02/28/11 02/27/12 02/22/13 02/21/14 02/20/15 02/19/16 02/17/17 02/26/18 02/21/19 02/20/20 Filing Date
02/21/06 02/20/07 02/15/08 02/27/09 02/22/10 02/28/11 02/22/13 02/21/14 02/20/15 02/19/16 02/17/17 02/26/18 02/21/19 02/20/20 02/20/20 02/20/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STT 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STT 7/7
Akamai Technologies Inc (NAS:AKAM) 03/03/2020 2:00PM EST GuruFocus
Price: $ 89.84 -1.08(-1.18%) Market Cap: $ 14.54 B Enterprise Value: $15.68 B Stock PDF
Financial Strength : 6/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 30.87
Cash to Debt 0.58 Operating margin (%) 19.97
Forward P/E N/A
Equity to Asset 0.52 Net-margin (%) 16.52
PE(NRI) 30.87
Interest Coverage 11.71 ROE (%) 14.04
F-Score:
P/B 4.03
ROA (%) 8.14
7 P/S 5.10
Z-Score: ROC (Joel Greenblatt) (%) 40.22
3.58 PFCF 29.77
Revenue Growth (3Y)(%) 9.70
M-Score: POCF 13.98
-2.23 EBITDA Growth (3Y)(%) 10.10
EV-to-EBIT 26.91
WACC vs 4.87% EPS Growth (3Y)(%) 16.80
ROIC 13.78% PEG 4.59
WACC
ROIC Shiller P/E 52.25
Current Ratio 3.22
Quick Ratio 3.22
Days Sales Outstanding 69.62
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Akamai operates a content delivery network, or CDN, which entails locating servers at the edges of networks so its
Price: Close to 10-year high customers, which store content on Akamai servers, can reach their own customers faster, more securely, and with
2016 568 572 584 624 2,348 better quality. Akamai has over 200,000 servers distributed over thousands of points of presence within over 1,700
PS Ratio: Close to 3-year high networks across 130 countries. Its customers generally include media companies, which stream video content or make
2017 600 606 624 658 2,489
video games available for download, and other enterprises that run interactive or high-traffic websites, such as e-
Insider Sell: Insider Selling 2018 669 663 670 713 2,714 commerce firms and financial institutions. Akamai also has a significant security business, which is integrated with its
2019 707 705 710 772 2,894 core web and media businesses to protect its customers from cyber threats.... (Read More)
2020 Competitors: NAS:OKTA, XPAR:WLN, NYSE:GDDY, NAS:FTNT, NAS:CRWD, NAS:NLOK, NYSE:PAGS,
Good Signs NYSE:BKI, MIL:NEXI, NAS:ULTI, NAS:SNPS, NYSE:WEX, NAS:DOX, NAS:MDB, XPAR:ING, NAS:DBX, NYSE:TSS,
Quarterly Earnings per Share NYSE:PANW, NAS:VRSN, NAS:FFIV
Piotroski F-Score: High
Mar Jun Sep Dec Full Year Insider Trades
Revenue per Share: 2016 0.42 0.42 0.43 0.52 1.79
Consistent growth 2017 0.43 0.33 0.37 0.11 1.24
PE Ratio: Close to 2-year low 2018 0.31 0.25 0.64 0.57 1.77
2019 0.65 0.69 0.84 0.73 2.91
2020
DCF
Quarterly Dividends Per Share
EPS without NRI: $2.91
Growth Rate in the next 10 Mar Jun Sep Dec Full Year
years: 10.40% 2016 0.00 0.00 0.00 0.00 0.00
Terminal Growth Rate for 10 2017 0.00 0.00 0.00 0.00 0.00
years: 4% 2018 0.00 0.00 0.00 0.00 0.00
Fair Value: $44.06 2019 0.00 0.00 0.00 0.00 0.00
2020
Reverse DCF Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Expected eps Growth Rate:
21.23% Revenue Growth (%) 14.80 10.00 9.60
EBITDA Growth (%) 11.40 6.80 28.10
Free Cash Flow Growth (%) 9.80 11.70 -15.40
Book Value Growth (%) 7.90 5.50 13.40
EPS Growth (%) 10.40 5.60 64.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AKAM 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1.43 1.80 2.43 3.44 4.24 4.56 5.37 6.18 7.56 8.68 10.84 12.18 13.33 14.41 16.04 17.58 17.58 Revenue per Share
0.47 0.63 0.70 1.18 1.80 1.92 2.14 2.47 2.89 3.31 4.10 4.29 4.65 4.08 4.85 6.21 6.21 EBITDA per Share
0.33 0.47 0.47 0.78 1.27 1.27 1.39 1.58 1.77 2.30 2.73 2.63 2.75 1.93 2.28 3.54 3.54 EBIT per Share
0.25 2.11 0.34 0.56 0.79 0.78 0.90 1.07 1.12 1.61 1.84 1.78 1.82 1.29 1.76 2.90 2.91 Earnings per Share (diluted)
0.25 2.11 0.34 0.56 0.79 0.78 0.90 1.07 1.12 1.61 1.84 1.78 1.82 1.29 1.76 2.90 2.91 eps without NRI
0.09 0.33 0.32 0.47 1.08 1.08 0.95 1.16 1.74 1.56 1.90 2.10 2.32 1.44 2.47 2.52 2.52 Owner Earnings per Share (TTM)
0.27 0.36 0.36 0.74 1.22 1.68 1.10 1.44 1.70 1.67 1.87 1.93 3.15 2.24 3.56 3.02 3.02 Free Cashflow per Share
-0.99 4.08 5.96 8.17 9.28 10.15 11.67 12.15 13.19 14.72 16.52 17.61 18.61 19.79 19.59 22.23 22.31 Book Value per Share
-1.03 3.19 4.10 5.47 6.12 7.13 8.91 9.34 8.65 10.05 9.88 10.24 10.66 9.79 9.43 11.41 11.46 Tangible Book per Share
2.03 1.32 1.25 1.20 1.18 1.17 -- -- -- -- 3.39 3.49 3.69 3.90 9.58 16.23 16.30 Total Debt per Share
13.03 19.93 53.12 34.60 15.09 25.34 47.05 32.28 40.91 47.18 62.96 52.63 66.68 65.04 61.08 86.38 89.84 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- 132 7.27 8.73 9.92 8.82 8.74 9.27 9.06 11.80 11.98 10.60 10.11 6.76 9.10 13.96 14.04 Return on Equity %
14.89 61.07 5.37 6.95 8.21 7.35 7.71 8.55 8.25 10.56 9.60 7.86 7.50 4.94 5.90 7.67 8.14 Return on Assets %
199 202 111 97.40 108 97.08 86.34 83.29 91.05 103 88.83 64.57 60.33 39.19 42.70 39.29 40.22 Return on Capital %
89.75 115 6.83 9.16 10.85 9.80 11.28 13.46 12.65 15.12 14.50 11.41 10.92 8.78 11.72 13.59 13.78 Return on Invested Capital %
27.51 32.58 18.21 12.62 11.71 8.24 6.96 3.65 7.55 13.38 10.55 8.44 6.91 4.34 4.02 5.70 4.87 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 1.41 1.42 1.70 -- -- -- 5.11 3.03 2.96 2.89 3.89 2.33 2.74 Effective Interest Rate on Debt %
78.03 80.34 78.05 73.69 71.85 70.93 70.36 60.84 61.43 67.61 68.89 66.98 65.54 64.81 64.87 65.87 65.87 Gross Margin %
23.32 25.92 19.39 22.74 27.15 26.05 24.84 25.56 23.34 26.47 25.19 21.33 20.35 15.77 15.33 19.97 19.97 Operating Margin %
16.36 116 13.39 15.87 18.35 16.97 16.73 17.34 14.85 18.60 17.00 14.63 13.66 8.95 10.99 16.52 16.52 Net Margin %
18.52 19.73 14.79 21.45 28.84 36.78 20.56 23.32 22.49 19.26 17.28 15.86 23.66 15.52 22.20 17.15 17.15 FCF Margin %
-2.04 0.32 0.21 0.15 0.13 0.12 -- -- -- -- 0.21 0.20 0.20 0.20 0.49 0.73 0.73 Debt to Equity
-0.69 0.70 0.77 0.82 0.83 0.83 0.93 0.92 0.90 0.89 0.74 0.75 0.74 0.72 0.58 0.52 0.52 Total Equity to Total Asset
1.41 0.23 0.16 0.12 0.11 0.10 -- -- -- -- 0.15 0.15 0.15 0.14 0.29 0.38 0.38 Total Debt to Total Asset
70.99 42.35 31.28 32.30 32.14 30.73 32.44 30.00 34.13 38.39 38.88 35.97 35.98 35.76 34.83 30.57 32.47 Gross Profit to Total Asset %
0.91 0.53 0.40 0.44 0.45 0.43 0.46 0.49 0.56 0.57 0.56 0.54 0.55 0.55 0.54 0.46 0.49 Asset Turnover
52.72 67.25 73.42 68.22 64.43 65.49 62.53 44.79 38.13 40.57 41.36 43.67 40.57 46.93 45.37 69.62 69.62 Days Sales Outstanding
81.85 105 87.78 40.41 34.70 35.04 31.73 30.77 29.82 52.64 46.25 31.18 34.34 33.46 37.93 51.35 51.35 Days Accounts Payable
-29.13 -37.83 -14.36 27.81 29.73 30.45 30.80 14.02 8.31 -12.07 -4.89 12.49 6.23 13.47 7.44 18.27 18.27 Cash Conversion Cycle
0.22 0.20 0.22 0.26 0.28 0.29 0.30 0.39 0.39 0.32 0.31 0.33 0.34 0.35 0.35 0.34 0.34 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AKAM 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
210 283 429 636 791 860 1,024 1,159 1,374 1,578 1,964 2,197 2,348 2,489 2,714 2,894 2,894 Revenue
46.15 55.66 94.10 167 223 250 303 454 530 511 611 726 809 876 953 988 988 Cost of Goods Sold
164 227 335 469 568 610 720 705 844 1,067 1,353 1,472 1,539 1,613 1,761 1,906 1,906 Gross Profit
78.03 80.34 78.05 73.69 71.85 70.93 70.36 60.84 61.43 67.61 68.89 66.98 65.54 64.81 64.87 65.87 65.87 Gross Margin %
103 131 210 269 300 326 394 326 409 506 660 771 800 888 983 948 948 Selling, General, & Admin. Expense
12.13 18.07 33.10 44.14 39.24 43.66 54.77 52.33 74.74 93.88 125 149 168 222 246 261 261 Research & Development
0.05 5.12 8.48 11.41 13.90 16.72 16.66 30.31 39.58 49.01 73.34 83.35 93.66 110 116 119 119 Other Operating Expense
48.97 73.38 83.11 145 215 224 254 296 321 418 495 469 478 393 416 578 578 Operating Income
23.32 25.92 19.39 22.74 27.15 26.05 24.84 25.56 23.34 26.47 25.19 21.33 20.35 15.77 15.33 19.97 19.97 Operating Margin %
-- -- -- -- 24.79 15.64 12.16 10.42 6.46 6.08 7.68 11.20 14.70 17.86 26.94 34.36 34.36 Interest Income
-- -- -- -- -2.83 -2.84 -1.70 -- -- -- -15.46 -18.53 -18.64 -18.84 -43.20 -49.36 -49.36 Interest Expense
-- -- -- -- 21.97 12.80 10.47 10.42 6.46 6.08 -7.78 -7.33 -3.94 -0.98 -16.26 -15.01 -15.01 Net Interest Income
-13.83 -2.97 15.36 23.46 -2.21 0.49 -2.37 0.66 -5.54 -4.19 -7.06 -4.72 -7.54 -77.37 -56.70 -30.50 -30.50 Other Income (Expense)
35.14 70.40 98.47 168 235 237 262 307 322 420 480 457 466 314 343 532 532 Pre-Tax Income
-0.77 258 -41.07 -67.24 -89.40 -91.32 -91.15 -106 -118 -126 -146 -135 -146 -91.43 -44.72 -53.35 -53.35 Tax Provision
2.20 -366 41.71 39.97 38.12 38.49 34.74 34.60 36.57 30.05 30.40 29.61 31.23 29.10 13.03 10.02 10.02 Tax Rate %
34.36 328 57.40 101 145 146 171 201 204 293 334 321 321 223 298 478 478 Net Income (Continuing Operations)
34.36 328 57.40 101 145 146 171 201 204 293 334 321 321 223 298 478 478 Net Income
16.36 116 13.39 15.87 18.35 16.97 16.73 17.34 14.85 18.60 17.00 14.63 13.66 8.95 10.99 16.52 16.52 Net Margin %
0.28 2.41 0.37 0.62 0.87 0.85 0.97 1.09 1.15 1.65 1.87 1.80 1.83 1.30 1.78 2.94 2.95 EPS (Basic)
0.25 2.11 0.34 0.56 0.79 0.78 0.90 1.07 1.12 1.61 1.84 1.78 1.82 1.29 1.76 2.90 2.91 EPS (Diluted)
147 157 177 185 187 189 191 188 182 182 181 180 176 173 169 165 164 Shares Outstanding (Diluted
Average)
20.21 25.17 41.43 72.74 98.08 122 143 168 204 184 247 300 334 372 435 441 441 Depreciation, Depletion and
Amortization
69.17 98.55 125 217 335 363 407 464 526 602 743 775 819 705 821 1,023 1,023 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AKAM 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
35.32 91.79 80.60 145 156 181 232 559 202 334 239 289 324 313 1,036 544 544 Cash And Cash Equivalents
35.31 201 189 401 175 385 375 290 236 340 520 460 513 399 856 993 993 Marketable Securities
70.63 292 270 546 331 567 607 849 438 674 758 750 837 712 1,892 1,537 1,537 Cash, Cash Equivalents, Marketable
Securities
30.33 52.16 86.23 119 140 154 175 142 144 175 223 263 261 320 337 552 552 Accounts Receivable
7.71 10.43 18.60 29.93 31.67 40.16 76.23 61.86 72.03 83.83 175 123 104 173 163 143 143 Other Current Assets
109 355 375 695 502 761 858 1,122 728 1,030 1,263 1,253 1,310 1,346 2,535 2,232 2,232 Total Current Assets
-- -- -- -- 441 495 637 381 658 573 870 775 779 568 209 835 835 Investments And Advances
4.83 5.57 7.24 11.34 -- -- -- -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
164 181 217 275 314 536 718 836 987 1,150 1,388 1,696 1,945 2,194 2,403 -- -- Machinery, Furniture, Equipment
217 244 302 385 469 562 748 872 1,031 1,214 1,480 1,816 2,085 2,347 2,588 1,911 1,911 Gross Property, Plant and Equipment
-191 -199 -215 -250 -295 -379 -492 -579 -686 -764 -879 -1,062 -1,284 -1,484 -1,677 -- -- Accumulated Depreciation
25.24 44.89 86.62 135 174 182 256 293 345 450 602 753 801 863 911 1,911 1,911 Property, Plant and Equipment
5.13 137 298 449 534 518 515 498 808 835 1,184 1,306 1,378 1,700 1,656 1,780 1,780 Intangible Assets
-- -- 240 362 441 441 453 453 724 757 1,051 1,150 1,229 1,499 1,487 1,600 1,600 Goodwill
43.70 355 488 377 229 132 86.38 51.41 61.24 69.86 83.70 94.30 105 173 151 250 250 Other Long Term Assets
183 891 1,248 1,656 1,881 2,088 2,353 2,346 2,601 2,958 4,002 4,182 4,373 4,649 5,462 7,007 7,007 Total Assets
10.35 16.02 22.63 18.54 21.17 24.00 26.38 38.25 43.29 73.71 77.41 61.98 76.12 80.28 99.09 139 139 Accounts Payable
-- -- -- -- -- -- -- 9.92 22.09 32.50 40.41 47.36 52.86 47.58 59.58 -- -- Total Tax Payable
43.84 54.47 82.53 71.46 88.95 93.35 121 125 171 222 277 270 305 356 417 474 474 Accounts Payable & Accrued
Expense
0.23 1.75 -- -- -- 200 -- -- -- -- -- -- -- -- 687 139 139 Current Portion of Long-Term Debt
2.70 5.66 6.73 13.00 11.51 34.18 23.81 21.34 26.29 36.95 49.68 54.15 52.97 70.50 69.08 71.22 71.22 Current Deferred Revenue
2.70 5.66 6.73 13.00 11.51 34.18 23.81 21.34 26.29 36.95 49.68 54.15 52.97 70.50 69.08 71.22 71.22 DeferredTaxAndRevenue
-- -- -- 3.92 -- -- -- 2.07 5.33 4.53 7.68 7.85 16.46 30.55 37.75 8.84 8.84 Other Current Liabilities
46.77 61.88 89.26 88.38 100 327 145 148 203 263 334 332 375 457 1,211 693 693 Total Current Liabilities
257 200 200 200 200 -- -- -- -- -- 605 618 640 663 874 1,840 1,840 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 692 692 Capital Lease Obligation
257 200 200 200 200 -- -- -- -- -- 605 618 640 663 874 2,532 2,532 Long-Term Debt & Capital Lease
Obligation
-2.04 0.32 0.21 0.15 0.13 0.12 -- -- -- -- 0.21 0.20 0.20 0.20 0.49 0.73 0.73 Debt to Equity
-- -- -- -- 1.25 2.68 3.64 2.47 2.57 7.94 43.13 17.05 15.41 23.89 24.18 33.56 33.56 NonCurrent Deferred Liabilities
5.29 5.41 3.97 9.27 10.62 18.82 26.28 38.39 49.36 57.15 74.22 93.27 119 143 161 90.06 90.06 Other Long-Term Liabilities
309 267 293 297 312 349 175 189 255 328 1,056 1,061 1,149 1,286 2,270 3,349 3,349 Total Liabilities
1.27 1.53 1.60 1.66 1.69 1.75 1.92 1.96 2.02 1.81 1.78 1.77 1.73 1.70 1.63 -- -- Common Stock
-3,579 -3,251 -3,194 -3,093 -2,948 -2,802 -2,631 -2,430 -2,226 -1,932 -1,598 -1,277 -961 -691 -431 -- -- Retained Earnings
0.46 -7.07 1.30 3.05 -24.35 -10.68 -5.74 -1.26 -1.64 -2.09 -17.61 -41.45 -56.22 -21.93 -48.91 -- -- Accumulated other comprehensive
income (loss)
3,452 3,881 4,146 4,447 4,539 4,616 4,970 5,068 5,196 4,562 4,559 4,437 4,240 4,073 3,670 -- -- Additional Paid-In Capital
-- -- -- -- -- -66.30 -158 -483 -624 -- -- -- -- -- -- -- -- Treasury Stock
-126 624 955 1,359 1,569 1,739 2,178 2,156 2,346 2,629 2,945 3,121 3,224 3,362 3,192 3,658 3,658 Total Equity
-0.69 0.70 0.77 0.82 0.83 0.83 0.93 0.92 0.90 0.89 0.74 0.75 0.74 0.72 0.58 0.52 0.52 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AKAM 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
34.36 328 57.40 101 145 146 171 201 204 293 334 321 321 223 298 478 478 Net Income
34.36 328 57.40 101 145 146 171 201 204 293 334 321 321 223 298 478 478 Net Income From Continuing
Operations
20.21 25.17 41.43 72.74 98.08 122 143 168 204 184 247 300 334 372 435 441 441 Depreciation, Depletion and
Amortization
-8.52 -19.46 -28.02 -31.94 -21.47 -1.16 -23.56 -37.84 -2.11 -67.18 -58.40 -56.25 -2.97 -50.05 -30.45 -64.47 -64.47 Change In Receivables
3.05 1.48 -8.06 -12.01 -5.47 -5.02 -12.09 -4.83 6.36 -3.84 -60.79 7.14 42.15 -28.97 -4.13 11.69 11.69 Change In Prepaid Assets
-0.13 -1.03 15.38 -12.97 -2.97 9.19 19.91 7.21 58.67 40.53 94.70 51.62 18.49 33.23 42.24 8.77 8.77 Change In Payables And Accrued
Expense
-6.94 -18.03 -22.26 -50.46 -30.96 11.62 -23.89 -27.39 60.43 -15.61 4.81 17.38 33.44 -12.03 30.31 -103 -103 Change In Working Capital
0.41 -259 38.51 65.27 81.70 81.71 62.46 53.63 -5.82 27.34 -25.88 4.10 9.63 -7.24 2.34 0.93 0.93 Change In DeferredTax
-- -- -- -- 57.90 58.80 76.47 61.31 90.59 95.88 112 127 145 164 184 187 187 Stock Based Compensation
3.20 6.33 17.65 48.44 -8.36 3.88 -27.05 -10.05 -23.33 -21.62 -14.21 24.33 29.21 60.87 58.98 54.39 54.38 Cash Flow from Others
51.24 82.80 133 237 343 424 402 446 530 564 658 793 872 801 1,008 1,058 1,058 Cash Flow from Operations
-12.34 -26.95 -69.33 -100 -115 -80.92 -159 -133 -167 -188 -207 -312 -181 -254 -218 -562 -402 Purchase Of Property, Plant,
Equipment
0.01 -- -- -- 0.08 0.09 0.18 0.15 0.01 0.83 1.37 -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -83.72 -5.78 -12.67 -0.55 -337 -30.66 -387 -141 -95.44 -369 -0.08 -201 -201 Purchase Of Business
-188 -216 -396 -551 -533 -790 -1,147 -880 -752 -495 -1,225 -693 -781 -326 -874 -1,840 -1,840 Purchase Of Investment
212 66.10 264 416 368 547 1,016 1,234 530 475 746 846 723 653 775 1,085 1,085 Sale Of Investment
-2.66 -7.29 -4.73 8.60 -0.00 -27.23 -32.43 -42.92 -53.39 -75.56 -107 -136 -135 -162 -190 0.40 -159 Cash From Other Investing Activities
9.08 -184 -206 -227 -364 -357 -335 177 -779 -313 -1,179 -436 -469 -459 -507 -1,518 -1,518 Cash Flow from Investing
13.75 217 27.92 31.62 21.97 21.72 45.78 25.25 -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -- -- -66.50 -92.43 -324 -141 -160 -269 -303 -374 -361 -750 -335 -335 Repurchase of Stock
-146 -57.43 -- -0.02 -- -- -- -- -- -- 661 -- -- -- 1,132 446 446 Net Issuance of Debt
-- -- 32.51 20.86 11.18 2.24 74.75 30.03 33.44 45.18 43.80 5.58 14.02 -3.81 -149 -147 -147 Other Financing
-132 159 60.43 52.46 33.14 -42.54 -17.68 -294 -108 -115 436 -297 -360 -365 234 -35.68 -35.68 Cash Flow from Financing
-70.33 56.47 -11.20 64.48 11.00 25.23 50.56 327 -357 132 -95.24 50.82 34.72 -10.20 723 -493 -493 Net Change in Cash
-12.34 -26.95 -69.33 -100 -115 -108 -192 -176 -221 -260 -319 -445 -316 -415 -406 -562 -562 Capital Expenditure
38.90 55.85 63.40 136 228 316 210 270 309 304 339 348 556 386 603 496 496 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AKAM 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
54.29 9.82 156 61.79 18.86 32.49 52.28 30.17 36.20 29.30 34.22 29.57 37.25 52.45 34.51 29.68 30.87 PE Ratio(TTM)
143 60.39 167 74.09 13.92 23.51 49.42 27.73 23.50 30.30 33.08 25.09 28.78 45.07 24.69 34.35 35.71 Price to Owner Earnings
(TTM)
-- 4.88 8.92 4.23 1.63 2.50 4.03 2.66 3.10 3.20 3.81 2.99 3.58 3.29 3.12 3.89 4.03 Price to Book
-- 6.25 12.97 6.32 2.47 3.55 5.28 3.46 4.73 4.69 6.37 5.14 6.26 6.65 6.48 7.57 7.84 Price to Tangible Book
51.30 57.27 147 46.82 12.28 15.12 42.70 22.32 24.05 28.25 33.54 27.20 21.15 29.02 17.07 28.63 29.77 Price-to-Free-Cash-Flow
Ratio
39.13 38.03 70.26 26.97 8.16 11.26 22.31 13.53 14.02 15.21 17.32 11.96 13.48 14.01 10.22 13.43 13.98 Price-to-Operating-Cash-
Flow Ratio
9.44 11.10 21.74 10.04 3.54 5.56 8.76 5.22 5.41 5.44 5.81 4.32 5.00 4.51 3.80 4.91 5.10 PS Ratio
-- -- -- -- 0.47 0.80 1.56 1.20 2.36 2.09 2.12 1.77 2.58 5.56 8.63 5.11 4.59 PEG Ratio
8.75 10.44 19.70 8.49 3.06 4.62 7.98 4.21 4.98 4.91 5.64 4.18 4.84 4.42 3.54 5.29 5.40 EV-to-Revenue
29.06 30.01 67.82 24.85 7.52 10.96 20.07 10.52 13.11 12.87 14.91 11.87 13.86 15.60 11.72 14.96 15.31 EV-to-EBITDA
42.69 40.30 102 37.34 10.81 16.55 30.95 16.48 21.55 18.56 22.36 19.35 23.41 33.03 24.90 26.29 26.91 EV-to-EBIT
2.34 2.48 0.98 2.68 9.25 6.04 3.23 6.07 4.64 5.39 4.47 5.17 4.27 3.03 4.02 3.80 3.73 Return on Capital %
-8.01 -2.02 0.06 0.88 23.83 23.31 22.12 23.66 18.84 17.25 18.64 19.96 17.54 12.77 8.17 9.01 8.85 Forward Rate of Return
-- -- -- -- -- -- -- 69.49 50.04 46.02 53.46 46.80 51.91 47.13 40.98 50.25 52.25 Shiller PE Ratio
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,652 3,048 8,515 5,751 2,552 4,339 8,780 5,730 7,273 8,425 11,226 9,327 11,553 11,050 9,950 14,216 14,543 Market Cap
1,838 2,957 8,445 5,405 2,421 3,972 8,173 4,881 6,836 7,752 11,072 9,195 11,356 11,001 9,619 15,350 15,678 Enterprise Value
13.03 19.93 53.12 34.60 15.09 25.34 47.05 32.28 40.91 47.18 62.96 52.63 66.68 65.04 61.08 86.38 89.84 Month End Stock Price
-1.88 0.16 -0.15 1.50 0.11 1.27 2.31 3.72 1.03 1.94 -1.67 -1.76 -1.80 -3.38 -2.32 -11.01 -11.05 Net Cash (per share)
-1.58 0.57 0.51 2.39 1.12 2.41 3.66 5.25 2.66 3.93 1.16 1.09 0.93 0.35 1.63 -6.79 -6.82 Net Current Asset Value
(per share)
-1.70 0.42 0.26 2.03 0.73 1.95 3.02 4.32 1.63 2.67 -0.73 -0.64 -0.67 -1.97 -0.77 -8.49 -8.53 Net-Net Working Capital (per
share)
-7.41 -2.02 3.11 8.59 13.73 18.39 22.13 26.01 30.36 33.80 36.98 38.44 44.77 48.29 50.20 53.31 53.31 Projected FCF (per share)
-- -- -- -- -- 41.42 47.40 53.37 65.32 73.20 69.77 75.51 77.62 79.36 86.10 94.14 94.14 Median PS (per share)
-- -- 5.91 15.50 20.00 19.50 22.50 26.75 17.37 22.57 29.68 29.76 25.87 11.71 -- 16.91 16.91 Peter Lynch Fair Value (per
share)
-- 12.30 5.60 8.30 10.43 11.19 13.43 15.00 14.76 19.08 20.22 20.25 20.89 16.85 19.32 27.29 27.39 Graham Number (per share)
-47.33 -67.46 -0.35 7.79 11.06 14.11 7.00 9.87 8.37 10.41 8.74 8.93 11.04 11.03 13.77 4.69 4.69 Earnings Power Value
(EPV)
-22.02 2.71 14.72 10.14 3.80 6.63 29.69 18.14 17.10 15.80 7.00 6.01 6.89 5.95 3.54 3.49 3.58 Altman Z-Score
7.00 8.00 4.00 7.00 6.00 4.00 7.00 8.00 8.00 8.00 7.00 5.00 6.00 6.00 7.00 7.00 7.00 Piotroski F-Score
-2.23 0.10 -2.08 -2.46 -2.63 -3.07 -2.61 -3.09 -2.94 -2.84 -3.14 -2.84 -3.06 -2.80 -3.31 -2.23 -2.23 Beneish M-Score
0.22 2.92 0.99 0.81 0.87 0.73 0.75 0.56 0.81 0.75 0.94 0.75 0.72 0.76 0.62 0.88 0.75 Scaled Net Operating
Assets
-14.20 48.12 10.44 5.48 8.83 3.78 4.43 -18.02 17.42 1.44 21.36 -0.87 -1.87 -2.56 -3.72 13.38 13.38 Sloan Ratio (%)
2.32 5.74 4.20 7.86 5.00 2.33 5.91 7.56 3.59 3.91 3.78 3.77 3.50 2.95 2.09 3.22 3.22 Current Ratio
2.32 5.74 4.20 7.86 5.00 2.33 5.91 7.56 3.59 3.91 3.78 3.77 3.50 2.95 2.09 3.22 3.22 Quick Ratio
17.95 21.85 56.39 59.15 40.38 25.89 54.14 52.24 41.86 53.39 64.79 78.36 69.91 71.12 82.58 92.54 103 Highest Stock Price
10.76 10.76 19.93 28.28 9.29 12.43 24.70 18.65 27.44 33.55 46.01 51.08 39.57 44.91 58.33 57.70 67.28 Lowest Stock Price
-4.02 -20.63 -4.82 -3.69 -1.75 -1.25 -8.97 4.88 -0.16 -0.45 0.16 0.61 2.23 1.94 4.11 -1.02 -0.63 Shares Buyback Ratio (%)
4.90 25.89 34.42 41.77 23.24 7.55 17.82 15.05 22.39 14.81 24.87 12.37 9.40 8.16 11.32 9.59 9.51 YoY Rev. per Sh. Growth
(%)
200 744 -83.89 64.71 41.07 -1.27 15.38 18.89 4.67 43.75 14.29 -3.26 2.25 -29.12 36.43 64.77 64.41 YoY EPS Growth (%)
76.78 33.05 12.10 66.90 52.94 6.96 11.13 15.82 16.94 14.48 23.76 4.76 8.27 -12.15 18.78 28.08 27.63 YoY EBITDA Growth (%)
-- -- -- -- 39.97 40.38 33.52 25.04 15.37 14.02 16.13 16.72 14.45 9.44 4.00 5.81 6.80 EBITDA 5-Y Growth (%)
124 136 155 163 168 171 177 184 178 178 178 178 175 172 167 163 162 Shares Outstanding (Basic
Average)
127 153 160 166 169 171 187 178 178 179 178 177 173 170 163 165 162 Shares Outstanding (EOP)
4.74 5.17 2.33 1.50 1.72 0.79 0.63 0.30 0.96 1.72 1.43 1.10 0.79 0.35 0.23 0.69 0.69 Beta
03/16/05 03/16/06 03/01/07 02/29/08 03/02/09 03/01/10 03/01/11 02/29/12 03/01/13 03/03/14 03/02/15 02/29/16 02/28/17 03/01/18 02/28/19 02/11/20 Filing Date
03/16/06 03/16/06 02/29/08 03/02/09 03/01/10 03/01/11 03/01/13 03/03/14 03/02/15 02/29/16 02/28/17 03/01/18 02/28/19 02/28/19 02/28/19 02/11/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AKAM 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AKAM 7/7
CME Group Inc (NAS:CME) 03/03/2020 2:00PM EST GuruFocus
Price: $ 212.38 +2.98(+1.42%) Market Cap: $ 76.12 B Enterprise Value: $119.89 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 35.96
Cash to Debt 0.44 Operating margin (%) 53.16
Forward P/E N/A
Equity to Asset 0.35 Net-margin (%) 43.48
PE(NRI) 35.96
Interest Coverage 14.54 ROE (%) 8.05
F-Score:
P/B 2.91
ROA (%) 2.83
4 P/S 15.25
Z-Score: ROC (Joel Greenblatt) (%) 12.92
1.17 PFCF 34.02
Revenue Growth (3Y)(%) 8.40
M-Score: POCF 30.76
-2.19 EBITDA Growth (3Y)(%) 10.80
EV-to-EBIT 41.81
EPS Growth (3Y)(%) 15.70
PEG 3.87
Shiller P/E 40.91
Current Ratio 1.04
Quick Ratio 1.04
Days Sales Outstanding 36.87
Warning Signs Quarterly Revenues Company Description
Dividend Yield %: Close to Mar Jun Sep Dec Full Year Based in Chicago, CME Group operates exchanges that allow investors, suppliers, and businesses to trade futures
and derivatives based on interest rates, equity indexes, foreign currencies, energy, metals, and commodities. The
10-year low 2016 934 906 842 913 3,595 CME was founded in 1898 and in 2002 completed its initial public offering. Since then, CME Group has consolidated
2017 929 925 891 900 3,645 part of the industry by merging with crosstown rival CBOT Holdings (2007) before acquiring Nymex Holdings in 2008.
Price: Close to 10-year high In addition, CME has a 27% stake in S&P/Dow Jones Indexes LLC along with an exclusive license to trade and clear
2018 1,109 1,060 904 1,237 4,309 S&P futures contracts.... (Read More)
PB Ratio: Close to 10-year 2019 1,180 1,273 1,277 1,138 4,868 Competitors: NYSE:SPGI, NYSE:ICE, NYSE:MCO, HKSE:00388 , LSE:LSE, XTER:DB1 , NYSE:MSCI,
high 2020 BSP:B3SA3, NAS:NDAQ, BATS:CBOE, NYSE:FDS, ASX:ASX, TSE:8697, SGX:S68, NAS:MORN, XPAR:ENX,
TSX:X, MIC:MOEX, XMAD:BME, SHSE:601519
Insider Sell: Insider Selling Quarterly Earnings per Share
Insider Trades
Mar Jun Sep Dec Full Year
Good Signs 2016 1.09 0.95 1.39 1.10 4.53
2017 1.18 1.22 0.91 8.63 11.94
Revenue per Share: 2018 1.76 1.66 1.21 1.09 5.72
Consistent growth 2019 1.39 1.43 1.78 1.31 5.91
Operating Margin %: 2020
Expansion Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.60 0.60 0.60 0.60 2.40
EPS without NRI: $5.91 2017 0.66 0.66 0.66 0.66 2.64
Growth Rate in the next 10 2018 0.70 0.70 0.70 0.70 2.80
years: 10.90% 2019 0.75 0.75 0.75 0.75 3.00
Terminal Growth Rate for 10 2020
years: 4% Growth Rate
Fair Value: $92.43
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 3.30 6.80 19.40
Reverse DCF
EBITDA Growth (%) 4.60 9.50 6.40
Expected eps Growth Rate:
Free Cash Flow Growth (%) 6.60 14.00 -7.50
23.52%
Book Value Growth (%) 1.50 2.40 9.30
EPS Growth (%) 10.90 23.40 -57.10
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CME 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4.19 5.11 6.21 7.96 8.69 7.85 9.03 9.83 8.77 8.78 9.26 9.85 10.61 10.71 12.54 13.59 13.59 Revenue per Share
2.40 3.13 3.96 5.53 5.40 5.48 6.38 6.93 6.26 5.95 6.32 6.82 7.78 8.38 9.26 9.33 9.33 EBITDA per Share
2.07 2.74 3.54 4.88 4.60 4.72 5.60 6.15 5.49 5.24 5.63 6.14 7.11 7.77 8.54 8.01 8.00 EBIT per Share
1.28 1.76 2.32 2.99 2.43 2.48 2.86 5.43 2.70 2.92 3.35 3.69 4.53 11.94 5.71 5.91 5.91 Earnings per Share (diluted)
1.28 1.76 2.32 2.99 2.43 2.48 2.86 5.43 2.70 2.92 3.35 3.69 4.53 11.94 5.71 5.91 5.91 eps without NRI
-- 1.57 2.20 2.54 2.14 2.64 3.43 3.42 3.23 3.17 3.32 3.80 4.68 5.05 6.49 -- 6.07 Owner Earnings per Share (TTM)
1.21 1.51 2.19 2.95 3.38 2.78 3.61 3.52 3.24 3.45 3.42 4.20 4.84 4.91 6.76 6.78 6.78 Free Cashflow per Share
0.21 0.37 0.50 0.69 0.92 0.92 0.92 1.12 1.79 1.80 1.88 2.00 2.40 2.64 2.80 3.00 3.00 Dividends per Share
4.77 6.48 8.72 46.19 56.34 58.04 60.02 65.18 64.55 63.37 62.37 61.00 60.14 66.07 72.64 72.94 72.91 Book Value per Share
4.77 6.48 8.58 -9.49 -27.68 -25.49 -25.18 -20.52 -18.61 -18.96 -19.25 -19.98 -20.24 -13.79 -21.19 -19.28 -19.27 Tangible Book per Share
-- -- 2.99 0.62 9.70 6.96 7.56 34.60 8.61 8.56 127 112 118 137 12.33 10.45 10.45 Total Debt per Share
45.74 73.50 102 137 41.62 67.19 64.35 48.73 50.67 78.46 88.65 90.60 115 146 188 -- 212 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
31.92 31.78 30.89 9.53 4.62 4.35 4.83 8.71 4.17 4.59 5.36 6.01 7.50 19.01 8.12 8.13 8.05 Return on Equity %
5.68 8.99 9.84 5.35 2.09 1.97 2.69 4.78 2.25 2.10 1.78 1.79 2.24 5.60 2.56 2.77 2.83 Return on Assets %
285 336 386 381 246 217 244 36.72 32.28 246 9.19 5.46 6.65 6.53 13.26 578 12.92 Return on Capital %
-- -- -- 13.49 5.56 5.00 6.13 7.63 3.32 4.54 2.69 2.13 2.57 5.95 3.85 7.12 4.03 Return on Invested Capital %
11.26 11.08 13.46 8.06 8.61 9.85 9.29 7.28 7.63 8.78 4.51 2.75 3.41 4.23 3.01 -- -0.27 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 6.40 4.85 5.80 1.67 1.85 5.30 0.52 0.29 0.32 0.27 0.62 4.37 0.70 Effective Interest Rate on Debt %
67.01 70.29 72.47 79.65 80.42 79.74 78.67 78.78 75.49 74.86 75.22 76.89 78.16 78.51 77.83 73.82 73.82 Gross Margin %
49.26 53.68 56.96 61.30 61.97 61.02 60.96 61.61 58.05 55.75 56.82 59.78 61.21 63.40 60.51 53.16 53.16 Operating Margin %
30.43 34.49 37.37 37.50 27.94 31.61 31.67 55.24 30.75 33.27 36.21 37.48 42.67 111 45.53 43.48 43.48 Net Margin %
28.87 29.51 35.22 37.06 38.93 35.41 39.94 35.79 36.98 39.33 36.97 42.63 45.62 45.80 53.93 49.86 -- FCF Margin %
-- -- 0.34 0.01 0.17 0.12 0.13 0.53 0.13 0.14 2.04 1.84 1.96 2.07 0.17 0.14 0.14 Debt to Equity
0.28 0.28 0.35 0.61 0.39 0.54 0.57 0.53 0.55 0.39 0.29 0.31 0.29 0.30 0.34 0.35 0.35 Total Equity to Total Asset
-- -- 0.12 0.01 0.07 0.07 0.07 0.28 0.07 0.05 0.59 0.56 0.57 0.61 0.06 0.05 0.05 Total Debt to Total Asset
12.51 18.32 19.09 11.37 6.02 4.97 6.68 6.82 5.53 4.72 3.70 3.66 4.11 3.94 4.38 4.71 4.80 Gross Profit to Total Asset %
0.19 0.26 0.26 0.14 0.08 0.06 0.09 0.09 0.07 0.06 0.05 0.05 0.05 0.05 0.06 0.06 0.07 Asset Turnover
0.16 0.21 0.22 0.23 0.38 0.37 0.32 0.21 0.66 0.62 0.56 0.54 0.53 0.22 0.49 0.51 0.51 Dividend Payout Ratio
39.87 35.68 40.56 38.97 33.35 34.69 36.15 32.20 33.50 37.63 40.01 39.26 37.00 36.02 46.86 36.87 36.87 Days Sales Outstanding
35.33 32.52 31.08 60.24 51.69 32.20 29.51 16.30 21.31 17.90 17.46 13.63 12.18 14.59 44.31 17.73 17.73 Days Accounts Payable
4.54 3.16 9.48 -21.27 -18.34 2.49 6.64 15.90 12.19 19.73 22.55 25.63 24.82 21.43 2.55 19.14 19.14 Cash Conversion Cycle
0.33 0.30 0.28 0.20 0.20 0.20 0.21 0.21 0.25 0.25 0.25 0.23 0.22 0.21 0.22 0.26 0.26 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CME 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
722 890 1,090 1,756 2,561 2,613 3,004 3,281 2,915 2,936 3,113 3,327 3,595 3,645 4,309 4,868 4,868 Revenue
238 264 300 357 501 529 641 696 714 738 771 769 785 783 956 1,274 1,274 Cost of Goods Sold
483 625 790 1,399 2,060 2,084 2,363 2,584 2,200 2,198 2,341 2,558 2,810 2,862 3,354 3,594 3,594 Gross Profit
67.01 70.29 72.47 79.65 80.42 79.74 78.67 78.78 75.49 74.86 75.22 76.89 78.16 78.51 77.83 73.82 73.82 Gross Margin %
50.41 59.79 96.25 137 142 166 158 162 160 176 211 216 136 146 171 172 172 Selling, General, & Admin. Expense
77.66 87.97 72.78 185 331 324 374 401 349 385 362 353 474 405 576 834 834 Other Operating Expense
355 478 621 1,077 1,587 1,594 1,831 2,021 1,692 1,637 1,768 1,989 2,201 2,311 2,608 2,588 2,588 Operating Income
49.26 53.68 56.96 61.30 61.97 61.02 60.96 61.61 58.05 55.75 56.82 59.78 61.21 63.40 60.51 53.16 53.16 Operating Margin %
-- -- -- -- 38.30 2.80 -- -- -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -- -108 -134 -140 -117 -132 -151 -119 -117 -124 -117 -158 -178 -178 Interest Expense
-- -- -- -- -69.90 -131 -140 -117 -132 -151 -119 -117 -124 -117 -158 -178 -178 Net Interest Income
12.24 30.75 50.80 19.25 -269 -25.70 31.10 32.30 134 115 122 85.50 211 333 328 280 280 Other Income (Expense)
-- -- -- -- -- -- -0.70 -2.10 -10.40 -1.30 0.20 -- -- -- -1.50 0.70 1.10 Other Income (Minority Interest)
368 508 672 1,096 1,248 1,438 1,722 1,937 1,693 1,601 1,771 1,957 2,288 2,526 2,778 2,690 2,690 Pre-Tax Income
-148 -202 -264 -437 -533 -612 -770 -122 -787 -623 -645 -710 -754 1,537 -814 -574 -574 Tax Provision
40.28 39.64 39.35 39.90 42.67 42.55 44.71 6.31 46.46 38.91 36.38 36.27 32.94 -60.84 29.31 21.33 21.33 Tax Rate %
220 307 407 659 716 826 952 1,814 907 978 1,127 1,247 1,534 4,063 1,964 2,116 2,116 Net Income (Continuing Operations)
220 307 407 659 716 826 951 1,812 896 977 1,127 1,247 1,534 4,063 1,962 2,117 2,117 Net Income
30.43 34.49 37.37 37.50 27.94 31.61 31.67 55.24 30.75 33.27 36.21 37.48 42.67 111 45.53 43.48 43.48 Net Margin %
1.31 1.79 2.35 3.01 2.44 2.49 2.87 5.45 2.71 2.94 3.37 3.71 4.55 12.00 5.73 5.93 5.92 EPS (Basic)
1.28 1.76 2.32 2.99 2.43 2.48 2.86 5.43 2.70 2.92 3.35 3.69 4.53 11.94 5.71 5.91 5.91 EPS (Diluted)
172 174 176 221 295 333 332 334 332 334 336 338 339 340 344 358 358 Shares Outstanding (Diluted
Average)
56.93 68.22 75.32 143 236 251 258 261 253 238 233 229 225 209 249 473 473 Depreciation, Depletion and
Amortization
412 546 696 1,219 1,592 1,823 2,120 2,314 2,079 1,991 2,124 2,303 2,636 2,852 3,184 3,341 3,341 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CME 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
358 611 970 845 298 261 855 1,042 1,605 2,470 1,366 1,693 1,869 1,904 1,375 1,551 1,551 Cash And Cash Equivalents
390 3,046 2,902 203 310 6,025 4,089 47.60 56.60 68.40 74.70 72.50 83.30 90.10 72.90 83.20 83.20 Marketable Securities
748 3,657 3,872 1,049 608 6,285 4,944 1,090 1,661 2,538 1,441 1,765 1,952 1,994 1,447 1,635 1,635 Cash, Cash Equivalents, Marketable
Securities
78.83 86.98 121 187 234 248 298 289 268 303 341 358 364 360 553 492 492 Accounts Receivable
1,869 39.67 32.40 3,744 17,843 166 146 9,567 6,789 21,565 40,763 35,782 37,715 44,553 39,886 37,441 37,441 Other Current Assets
2,695 3,783 4,030 4,987 19,112 6,699 5,388 10,946 8,718 24,406 42,545 37,905 40,032 46,907 41,887 39,568 39,568 Total Current Assets
-- -- -- 58.54 58.60 59.10 65.20 65.60 20.10 20.10 17.70 17.70 7.80 7.80 7.80 7.80 7.80 Land And Improvements
130 136 155 289 378 439 455 532 513 280 274 281 179 174 174 174 174 Buildings And Improvements
176 197 222 283 355 365 578 586 612 673 740 733 655 714 812 1,011 1,011 Machinery, Furniture, Equipment
398 447 515 813 1,187 1,285 1,300 1,398 1,364 1,192 1,250 1,280 1,022 1,076 1,210 1,412 1,412 Gross Property, Plant and Equipment
-267 -294 -347 -435 -480 -546 -513 -576 -640 -678 -741 -789 -597 -677 -761 -868 -868 Accumulated Depreciation
131 153 169 377 707 739 787 822 724 513 509 492 425 400 449 544 544 Property, Plant and Equipment
-- -- 24.27 14,833 27,871 27,778 28,477 28,337 27,596 27,486 27,382 27,282 27,186 27,091 33,481 33,036 33,036 Intangible Assets
-- -- 11.50 5,049 7,519 7,549 7,984 7,984 7,567 7,569 7,569 7,569 7,569 7,569 10,805 10,743 10,743 Goodwill
31.24 32.64 83.23 109 469 436 394 654 1,825 1,873 1,806 1,681 1,727 1,394 1,660 2,068 2,068 Other Long Term Assets
2,857 3,969 4,307 20,306 48,159 35,651 35,046 40,759 38,863 54,278 72,242 67,359 69,369 75,791 77,476 75,215 75,215 Total Assets
23.05 23.55 25.55 58.97 71.00 46.70 51.80 31.10 41.70 36.20 36.90 28.70 26.20 31.30 116 61.90 61.90 Accounts Payable
23.05 23.55 95.83 208 528 46.70 51.80 31.10 41.70 36.20 36.90 28.70 26.20 31.30 116 61.90 61.90 Accounts Payable & Accrued
Expense
-- -- 521 164 250 300 421 9,334 750 750 40,567 35,553 37,543 44,185 574 -- -- Current Portion of Long-Term Debt
-- -- 4.07 2.87 -- -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Revenue
-- -- 4.07 2.87 -- -- -- -- -- -- -- -- -- -- -- -- -- DeferredTaxAndRevenue
2,003 2,806 2,134 3,701 17,865 6,177 4,309 250 6,826 22,525 927 1,243 1,377 1,456 40,582 38,461 38,461 Other Current Liabilities
2,026 2,830 2,755 4,076 18,643 6,524 4,781 9,615 7,617 23,311 41,531 36,825 38,946 45,673 41,273 38,523 38,523 Total Current Liabilities
-- -- -- -- 2,966 2,015 2,105 2,107 2,107 2,107 2,108 2,229 2,231 2,233 3,827 3,743 3,743 Long-Term Debt
-- -- -- -- 2,966 2,015 2,105 2,107 2,107 2,107 2,108 2,229 2,231 2,233 3,827 3,743 3,743 Long-Term Debt & Capital Lease
Obligation
-- -- 0.34 0.01 0.17 0.12 0.13 0.53 0.13 0.14 2.04 1.84 1.96 2.07 0.17 0.14 0.14 Debt to Equity
-- -- -- 3,848 7,728 7,646 7,840 7,227 7,413 7,250 7,303 7,358 7,291 4,858 5,666 5,635 5,635 NonCurrent Deferred Liabilities
-- -- -- -- -- -- 68.10 -- 5.80 5.70 -- -- -- -- 46.80 30.40 30.40 Minority Interest
19.25 20.78 32.06 76.26 133 166 192 258 301 449 376 395 561 616 745 1,155 1,155 Other Long-Term Liabilities
2,045 2,851 2,787 8,001 29,470 16,350 14,918 19,207 17,438 33,117 51,318 46,808 49,029 53,379 51,510 49,056 49,056 Total Liabilities
0.34 0.35 0.35 0.53 0.70 0.70 0.70 3.30 3.30 3.30 3.40 3.40 3.40 3.40 3.60 3.60 3.60 Common Stock
553 796 1,116 1,619 1,720 2,240 2,886 4,325 3,993 3,495 3,317 2,908 2,525 4,497 4,855 5,009 5,009 Retained Earnings
-1.60 -2.91 -2.98 -3.10 -160 -126 -104 112 209 152 6.20 -80.80 -14.10 14.30 5.30 3.40 3.40 Accumulated other comprehensive
income (loss)
261 325 406 10,689 17,129 17,187 17,278 17,113 17,213 17,505 17,597 17,722 17,827 17,897 21,054 21,113 21,113 Additional Paid-In Capital
813 1,119 1,519 12,306 18,689 19,301 20,060 21,552 21,419 21,155 20,924 20,552 20,341 22,412 25,919 26,129 26,129 Total Equity
0.28 0.28 0.35 0.61 0.39 0.54 0.57 0.53 0.55 0.39 0.29 0.31 0.29 0.30 0.34 0.35 0.35 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CME 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
220 307 407 659 716 826 952 1,814 907 978 1,127 1,247 1,534 4,063 1,964 2,116 2,116 Net Income
220 307 407 659 716 826 952 1,814 907 978 1,127 1,247 1,534 4,063 1,964 2,116 2,116 Net Income From Continuing
Operations
56.93 68.22 75.32 143 236 251 258 261 253 238 233 229 225 209 249 473 473 Depreciation, Depletion and
Amortization
-21.92 -11.63 -35.88 -49.93 81.30 -14.40 -28.70 -13.20 -0.30 -35.50 -38.50 -17.30 -8.10 6.00 -65.50 60.80 60.80 Change In Receivables
-1.65 0.51 1.62 4.59 1.20 -10.50 18.50 -39.00 83.10 -14.80 -105 -90.30 57.90 8.60 228 -82.70 -82.70 Change In Payables And Accrued
Expense
-17.19 -39.55 -9.40 4.03 -30.10 -31.80 41.90 -142 -13.90 -15.30 -200 -138 12.70 -106 49.70 -34.60 -34.60 Change In Working Capital
4.26 -3.25 -24.85 -50.58 -115 -56.90 22.30 -659 82.20 -6.00 78.90 63.30 -83.00 -2,358 114 -3.70 -3.70 Change In DeferredTax
-- -- -- -- 37.60 33.40 40.90 51.30 61.40 54.40 54.80 60.80 66.20 58.00 96.50 73.10 73.10 Stock Based Compensation
12.27 15.95 23.27 59.70 54.50 61.20 21.70 -0.80 -69.80 31.20 -2.30 70.80 -23.30 -115 -32.10 48.90 48.90 Cash Flow from Others
276 348 472 814 1,197 1,083 1,360 1,346 1,220 1,281 1,291 1,533 1,732 1,751 2,441 2,673 2,673 Cash Flow from Operations
-67.50 -85.63 -87.81 -164 -200 -158 -160 -172 -142 -126 -141 -114 -91.80 -81.90 -117 -246 -246 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -- -- -- 149 192 7.90 -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -2,960 -- -37.00 -- -231 -4.00 -65.50 -16.70 -9.10 -5.30 -1,795 -- -- Purchase Of Business
-- -- -- -- -- -- -- -- 42.40 -- -- -- 8.80 268 20.70 89.60 -- Sale Of Business
-120 -70.06 -44.77 -129 -368 -163 -10.20 -10.20 -32.50 -36.60 -38.30 -35.30 -45.90 -3.00 -10.00 -15.40 -15.40 Purchase Of Investment
68.33 75.23 73.67 204 375 866 95.60 11.30 5.10 164 37.50 184 192 2.50 11.80 18.80 18.80 Sale Of Investment
-6.49 -1.87 -26.95 10.33 -597 -0.00 0.00 17.50 0.00 -- -0.00 -0.00 -- -- 0.00 0.00 89.60 Cash From Other Investing Activities
-126 -82.33 -85.86 -78.64 -3,749 545 -112 -154 -209 191 -199 17.90 53.70 180 -1,890 -153 -153 Cash Flow from Investing
6.05 7.33 16.43 40.41 21.98 -- 607 -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -949 -224 -27.00 -575 -220 -- -- -- -- -- -- -- -- -- Repurchase of Stock
-1.52 7.33 -- 163 2,929 -900 208 -421 748 -1.30 -750 70.70 130 -- 1,119 -662 -662 Net Issuance of Debt
-35.07 -63.26 -87.54 -152 -615 -306 -305 -373 -1,224 -599 -1,497 -1,343 -1,787 -1,994 -2,150 -1,696 -1,696 Cash Flow for Dividends
52.98 36.03 43.88 37.73 -85.60 -433 -588 8.10 28.20 -5.60 50.90 48.80 36.70 8.20 -49.50 16.80 16.80 Other Financing
22.45 -12.57 -27.22 -860 2,005 -1,665 -653 -1,006 -448 -606 -2,196 -1,224 -1,621 -1,985 -1,080 -2,341 -2,341 Cash Flow from Financing
172 253 359 -124 -547 -37.30 595 187 562 865 -1,104 327 165 -54.30 -529 179 179 Net Change in Cash
-67.50 -85.63 -87.81 -164 -200 -158 -160 -172 -142 -126 -141 -114 -91.80 -81.90 -117 -246 -246 Capital Expenditure
208 263 384 651 997 925 1,200 1,174 1,078 1,155 1,151 1,418 1,640 1,669 2,324 2,427 2,427 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CME 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
35.90 41.76 43.94 46.10 16.99 27.07 22.50 8.97 18.77 26.78 26.46 24.62 25.46 12.23 32.89 -- 35.96 PE Ratio(TTM)
-- 46.88 46.43 53.95 19.46 25.48 18.77 14.26 15.70 24.77 26.73 23.83 24.63 28.95 28.99 -- 35.00 Price to Owner Earnings
(TTM)
9.60 11.35 11.69 2.97 0.74 1.16 1.07 0.75 0.79 1.24 1.42 1.49 1.92 2.21 2.59 -- 2.91 Price to Book
9.60 11.35 11.88 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Price to Tangible Book
37.80 48.77 46.66 47.94 12.28 24.17 17.84 13.85 15.62 22.72 25.90 21.59 23.84 29.77 27.76 -- 34.02 Price-to-Free-Cash-Flow
Ratio
28.57 36.79 37.97 38.35 10.27 20.65 15.74 12.08 13.81 20.48 23.08 19.98 22.58 28.38 26.45 -- 30.76 Price-to-Operating-Cash-
Flow Ratio
10.91 14.09 16.43 17.37 4.78 8.56 7.12 4.96 5.78 8.93 9.57 9.20 10.87 13.63 15.02 -- 15.25 PS Ratio
-- -- 1.28 1.42 0.55 1.46 1.85 1.05 4.02 6.41 -- -- 9.61 1.56 3.22 -- 3.87 PEG Ratio
9.77 9.95 13.22 20.31 6.41 7.03 6.38 8.07 6.18 9.03 22.80 20.00 21.37 25.78 16.27 -- 24.63 EV-to-Revenue
17.10 16.01 20.51 29.08 10.43 10.08 9.04 11.44 8.67 13.32 33.41 28.90 29.15 32.95 22.02 -- 35.88 EV-to-EBITDA
19.84 18.21 22.97 32.92 12.28 11.69 10.29 12.89 9.87 15.13 37.54 32.08 31.87 35.55 23.89 -- 41.81 EV-to-EBIT
5.04 5.49 4.35 3.04 8.14 8.55 9.72 7.76 10.13 6.61 2.66 3.12 3.14 2.81 4.19 -- 2.38 Return on Capital %
-- -- 21.16 21.21 25.18 22.21 16.67 15.04 11.18 8.39 3.69 2.96 5.96 10.67 12.77 -- 11.93 Forward Rate of Return
-- -- -- -- -- -- -- 19.85 18.83 26.68 28.46 27.47 32.61 32.58 38.72 -- 40.91 Shiller PE Ratio
0.45 0.50 0.49 0.50 2.21 1.37 1.43 2.30 3.54 2.29 2.12 2.21 2.08 1.81 1.49 1.49 1.39 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
7,799 12,696 17,757 36,551 13,806 22,345 21,508 16,112 16,814 26,194 29,738 30,527 39,016 49,546 67,126 -- 76,118 Market Cap
7,052 9,040 14,407 35,667 16,414 18,374 19,158 26,463 18,015 26,519 70,972 66,544 76,838 93,970 70,127 -- 119,892 Enterprise Value
45.74 73.50 102 137 41.62 67.19 64.35 48.73 50.67 78.46 88.65 90.60 115 146 188 -- 212 Month End Stock Price
-7.61 4.67 6.22 -26.10 -87.01 -30.27 -30.04 -54.79 -47.56 -91.61 -149 -134 -139 -151 -140 -132 -132 Net Cash (per share)
3.81 5.40 7.14 -11.31 -31.23 -29.02 -28.72 -24.98 -26.30 -26.11 -26.15 -26.42 -26.60 -19.08 -27.10 -26.57 -26.56 Net Current Asset Value
(per share)
-7.26 5.04 6.75 -25.57 -86.48 -29.71 -29.38 -54.14 -46.96 -90.93 -148 -133 -138 -151 -139 -131 -131 Net-Net Working Capital
(per share)
-- -- 16.53 52.55 64.12 71.81 79.03 84.38 80.20 81.34 81.18 82.29 83.56 94.24 111 -- -- Projected FCF (per share)
-- -- -- -- -- -- -- -- 65.60 71.06 76.88 82.33 88.68 89.56 108 -- 129 Median PS (per share)
-- -- 58.00 74.40 61.25 46.04 34.75 46.23 -- -- -- -- -- 93.61 58.46 -- 53.54 Peter Lynch Fair Value (per
share)
11.70 16.02 21.17 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Graham Number (per share)
-- 28.48 30.48 14.74 6.44 30.98 30.93 2.38 31.83 35.19 -84.68 -67.03 -74.88 -76.73 50.23 -- -58.96 Earnings Power Value
(EPV)
3.52 3.89 5.31 3.17 0.49 1.13 1.26 0.94 0.99 0.75 0.56 0.62 0.71 0.82 1.06 -- 1.17 Altman Z-Score
6.00 7.00 5.00 7.00 4.00 6.00 6.00 8.00 5.00 6.00 5.00 6.00 6.00 5.00 4.00 -- 4.00 Piotroski F-Score
-1.56 -1.54 -1.34 9.81 -2.69 -2.14 -2.25 -2.64 -2.53 -2.83 -2.61 -2.43 -2.45 -2.44 -1.98 -- -2.19 Beneish M-Score
0.01 -0.89 -0.46 2.65 1.05 0.32 0.50 0.91 0.56 0.55 1.15 0.78 0.86 0.96 0.38 0.37 0.36 Scaled Net Operating
Assets
2.43 1.03 0.50 -0.38 6.78 -2.25 -0.85 1.52 -0.29 -0.91 0.05 -0.45 -0.36 2.81 1.82 -0.54 -0.54 Sloan Ratio (%)
1.33 1.34 1.46 1.22 1.03 1.03 1.13 1.14 1.14 1.05 1.02 1.03 1.03 1.03 1.01 1.03 1.03 Current Ratio
1.33 1.34 1.46 1.22 1.03 1.03 1.13 1.14 1.14 1.05 1.02 1.03 1.03 1.03 1.01 1.03 1.03 Quick Ratio
45.74 79.38 111 142 137 68.42 69.86 63.40 59.73 84.64 92.91 100 123 153 196 -- 225 Highest Stock Price
14.47 33.99 71.56 99.59 31.31 31.81 47.54 47.43 45.20 50.67 66.95 84.87 81.99 114 145 -- 161 Lowest Stock Price
-3.57 -1.31 -0.83 -52.95 -24.52 -0.25 -0.51 1.08 -0.36 -0.61 -0.48 -0.44 -0.39 -0.29 -5.18 -0.40 -0.43 Shares Buyback Ratio (%)
32.73 21.82 21.50 28.31 9.08 -9.60 15.05 8.79 -10.77 0.13 5.48 6.31 7.72 1.01 17.03 8.39 8.50 YoY Rev. per Sh. Growth
(%)
77.22 38.09 31.67 28.71 -18.75 2.31 15.23 89.86 -50.28 8.15 14.73 10.15 22.76 164 -52.18 3.50 3.32 YoY EPS Growth (%)
56.91 30.80 26.48 39.48 -2.33 1.44 16.41 8.70 -9.77 -4.84 6.18 7.83 14.13 7.77 10.51 0.68 0.68 YoY EBITDA Growth (%)
-- -- 34.28 32.51 31.01 18.55 12.15 8.51 4.67 4.18 -0.21 -1.00 2.65 7.84 10.22 -- 9.50 EBITDA 5-Y Growth (%)
168 172 173 219 294 332 331 333 331 333 334 336 337 339 342 357 357 Shares Outstanding (Basic
Average)
171 173 174 266 332 333 334 331 332 334 335 337 338 339 357 358 358 Shares Outstanding (EOP)
-- 1.12 1.47 0.69 1.15 1.10 1.14 1.08 1.14 1.05 0.77 0.61 0.73 0.87 0.31 -0.29 -0.29 Beta
03/10/05 03/06/06 03/01/07 02/28/08 03/02/09 02/26/10 02/28/11 02/28/12 03/01/13 03/03/14 02/26/15 02/26/16 02/27/17 03/01/18 02/28/19 02/28/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CME 6/7
03/06/06 03/01/07 02/28/08 02/28/08 02/26/10 02/28/11 03/01/13 03/03/14 02/26/15 02/26/16 02/27/17 03/01/18 02/28/19 02/28/20 02/28/20 02/28/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CME 7/7
W.W. Grainger Inc (NYSE:GWW) 03/03/2020 2:00PM EST GuruFocus
Price: $ 283.61 -5.27(-1.82%) Market Cap: $ 15.22 B Enterprise Value: $17.28 B Stock PDF
Financial Strength : 6/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 18.56
Cash to Debt 0.16 Operating margin (%) 10.99
Forward P/E N/A
Equity to Asset 0.31 Net-margin (%) 7.39
PE(NRI) 18.56
Interest Coverage 15.20 ROE (%) 44.33
F-Score:
P/B 8.21
ROA (%) 14.24
7 P/S 1.34
Z-Score: ROC (Joel Greenblatt) (%) 40.05
7.31 PFCF 18.90
Revenue Growth (3Y)(%) 7.90
M-Score: POCF 14.91
-2.56 EBITDA Growth (3Y)(%) 7.10
EV-to-EBIT 13.69
WACC vs 7.88% EPS Growth (3Y)(%) 15.80
ROIC 23.78% PEG 5.25
WACC
ROIC Shiller P/E 24.28
Current Ratio 2.12
Quick Ratio 1.13
Days Inventory 80.05
Days Sales Outstanding 45.28
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year W.W. Grainger distributes more than 1.7 million maintenance, repair, and operations, or MRO, products that are
sourced from over 5,000 suppliers. The company serves more than 3.5 million customers through its online and
2016 2,507 2,564 2,596 2,471 10,137 electronic purchasing platforms, vending machines, catalog distribution, and its network of over 450 global branches.
2017 2,541 2,615 2,636 2,633 10,425 In recent years, Grainger has invested in its e-commerce capabilities, and the firm is the 10th- largest e-commerce site
Good Signs 2018 2,766 2,861 2,831 2,763 11,221
in North America. In 2018, Grainger generated 77% of its $11.2 billion of sales in the United States.... (Read More)
Competitors: LSE:FERG, NAS:FAST, XTER:RAA, NAS:HDS, NYSE:WSO, NYSE:SITE, ASX:REH, XTER:RHM,
Piotroski F-Score: High 2019 2,799 2,893 2,947 2,847 11,486 TSX:TIH, OSTO:INDT, XPAR:RXL, LSE:ECM, NYSE:MSM, SHSE:600546, WBO:ANDR, NYSE:AXE, LSE:DPLM,
2020 XSWX:DAE, TSX:FTT, NYSE:AIT
Revenue per Share:
Consistent growth Quarterly Earnings per Share Insider Trades
Dividend Yield %: Close to 2- Mar Jun Sep Dec Full Year
year high 2016 2.98 2.79 3.05 1.01 9.83
2017 2.93 1.67 2.79 2.63 10.02
PS Ratio: Close to 2-year low 2018 4.07 4.16 1.82 3.68 13.73
2019 4.48 4.67 4.25 1.88 15.28
DCF 2020
EPS without NRI: $15.28 Quarterly Dividends Per Share
Growth Rate in the next 10 Mar Jun Sep Dec Full Year
years: 7.70% 2016 1.17 1.22 1.22 1.22 4.83
Terminal Growth Rate for 10 2017 1.22 1.28 1.28 1.28 5.06
years: 4% 2018 1.28 1.36 1.36 1.36 5.36
Fair Value: $194.27 2019 1.36 1.44 1.44 1.44 5.68
2020
Reverse DCF Growth Rate
Expected eps Growth Rate: Annual Rates(per share) 10-Y 5-Y 12-M
13.52%
Revenue Growth (%) 9.00 8.20 5.30
EBITDA Growth (%) 7.50 3.60 8.40
Free Cash Flow Growth (%) 8.60 12.80 3.30
Book Value Growth (%) -0.60 -0.60 0.50
EPS Growth (%) 7.70 5.80 11.60
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GWW 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
55.09 60.34 65.00 75.47 87.95 83.08 99.56 113 126 134 144 152 167 180 199 209 209 Revenue per Share
5.88 6.85 7.70 9.44 11.91 11.53 14.02 17.00 18.16 20.99 22.44 23.00 22.09 22.40 25.04 27.16 27.09 EBITDA per Share
4.81 5.67 6.39 7.89 10.11 9.56 11.95 14.90 15.93 18.43 19.43 19.53 18.00 17.85 20.50 22.99 22.91 EBIT per Share
3.13 3.78 4.24 4.94 5.97 5.62 6.93 9.07 9.52 11.13 11.45 11.58 9.87 10.02 13.73 15.32 15.28 Earnings per Share (diluted)
3.13 3.78 4.24 4.94 5.97 5.62 6.93 9.07 9.52 11.13 11.45 11.58 9.87 10.02 13.73 15.32 15.28 eps without NRI
3.17 3.54 3.53 3.86 4.58 7.94 5.78 7.56 8.21 10.53 8.88 10.92 10.03 10.94 9.40 10.69 10.69 Owner Earnings per Share (TTM)
3.04 3.50 3.31 3.19 4.48 7.90 6.51 7.72 7.96 10.12 8.27 10.07 12.16 14.14 14.48 14.95 15.01 Free Cashflow per Share
0.79 0.92 1.11 1.34 1.55 1.78 2.08 2.52 3.06 3.59 4.17 4.59 4.83 5.06 5.36 5.68 5.68 Dividends per Share
22.83 25.51 25.90 26.57 27.20 29.94 31.79 37.57 43.52 47.21 47.60 36.54 30.58 30.00 34.39 34.55 34.55 Book Value per Share
21.01 23.48 23.40 23.62 22.88 22.21 22.97 26.76 32.20 35.17 36.17 16.71 11.64 10.24 18.56 20.90 20.90 Tangible Book per Share
0.11 0.11 0.11 1.41 7.08 7.27 7.12 7.38 8.13 7.88 7.17 32.06 38.21 41.60 39.74 41.26 41.26 Total Debt per Share
66.62 71.10 69.94 87.52 78.84 96.83 138 187 202 255 255 203 232 236 282 339 284 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
14.66 15.90 17.17 19.65 23.01 20.51 22.86 26.71 23.97 25.03 24.53 27.81 29.57 33.60 43.31 44.97 44.33 Return on Equity %
10.56 11.71 12.46 13.68 14.38 11.89 13.39 15.28 14.18 15.51 15.20 13.81 10.49 10.19 13.39 14.30 14.24 Return on Assets %
31.12 35.13 37.15 39.24 41.64 36.78 42.79 47.50 45.50 48.77 47.95 43.64 36.83 35.67 39.53 40.59 40.05 Return on Capital %
17.55 19.84 20.54 21.18 22.68 18.17 21.74 24.83 23.05 24.40 23.50 21.50 17.44 17.84 23.14 24.30 23.78 Return on Invested Capital %
8.09 10.21 13.35 11.01 7.65 8.80 8.71 7.02 7.21 7.54 8.80 6.21 5.89 5.45 10.52 8.84 7.88 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 4.52 1.66 1.61 1.80 2.97 2.39 1.97 2.72 3.59 3.51 3.86 3.56 3.76 Effective Interest Rate on Debt %
37.76 39.11 40.01 40.57 41.00 41.76 41.85 43.46 43.76 43.83 43.29 42.43 40.59 39.31 38.75 38.28 38.28 Gross Margin %
8.73 9.39 9.83 10.45 11.43 10.69 11.98 13.03 12.64 13.74 13.52 13.04 10.98 9.93 10.32 10.99 10.99 Operating Margin %
5.68 6.27 6.52 6.55 6.94 6.92 7.11 8.15 7.71 8.45 8.05 7.71 5.98 5.62 6.97 7.39 7.39 Net Margin %
5.51 5.79 5.10 4.23 5.09 9.51 6.53 6.80 6.33 7.57 5.74 6.64 7.30 7.87 7.29 7.15 7.15 FCF Margin %
0.01 0.00 0.00 0.05 0.26 0.24 0.22 0.20 0.19 0.17 0.15 0.88 1.25 1.39 1.16 1.19 1.19 Debt to Equity
0.74 0.74 0.72 0.68 0.58 0.58 0.57 0.56 0.60 0.62 0.61 0.39 0.32 0.29 0.33 0.31 0.31 Total Equity to Total Asset
0.00 0.00 0.00 0.04 0.15 0.14 0.13 0.11 0.11 0.10 0.09 0.34 0.40 0.40 0.38 0.37 0.37 Total Debt to Total Asset
70.17 73.06 76.51 84.81 84.98 71.77 78.78 81.45 80.49 80.47 81.79 75.96 71.24 71.28 74.47 74.04 73.76 Gross Profit to Total Asset %
1.86 1.87 1.91 2.09 2.07 1.72 1.88 1.87 1.84 1.84 1.89 1.79 1.76 1.81 1.92 1.93 1.93 Asset Turnover
0.25 0.24 0.26 0.27 0.26 0.32 0.30 0.28 0.32 0.32 0.36 0.40 0.49 0.51 0.39 0.37 0.37 Dividend Payout Ratio
34.76 34.25 35.15 34.27 31.41 36.66 38.77 40.15 38.34 42.61 42.96 44.27 44.04 46.39 45.05 45.28 45.28 Days Sales Outstanding
33.61 34.63 34.63 28.51 26.26 30.30 30.09 38.17 31.09 35.16 35.79 37.09 39.40 42.17 36.01 37.02 37.02 Days Accounts Payable
79.07 80.90 83.69 84.86 88.33 95.68 82.21 90.31 93.19 89.76 85.97 88.06 85.48 81.79 78.86 82.28 80.05 Days Inventory
80.22 80.52 84.21 90.62 93.48 102 90.89 92.29 100 97.21 93.14 95.24 90.12 86.01 87.90 90.54 88.31 Cash Conversion Cycle
4.62 4.51 4.36 4.30 4.13 3.81 4.44 4.04 3.92 4.07 4.25 4.14 4.27 4.46 4.63 4.44 4.56 Inventory Turnover
0.62 0.61 0.60 0.59 0.59 0.58 0.58 0.57 0.56 0.56 0.57 0.58 0.59 0.61 0.61 0.62 0.62 COGS to Revenue
0.14 0.14 0.14 0.14 0.14 0.15 0.13 0.14 0.14 0.14 0.13 0.14 0.14 0.14 0.13 0.14 0.14 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GWW 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5,050 5,527 5,884 6,418 6,850 6,222 7,182 8,078 8,950 9,438 9,965 9,973 10,137 10,425 11,221 11,486 11,486 Revenue
3,143 3,365 3,530 3,814 4,042 3,623 4,176 4,567 5,034 5,301 5,651 5,742 6,022 6,327 6,873 7,089 7,089 Cost of Goods Sold
1,907 2,162 2,354 2,604 2,808 2,599 3,006 3,511 3,916 4,136 4,314 4,231 4,115 4,098 4,348 4,397 4,397 Gross Profit
37.76 39.11 40.01 40.57 41.00 41.76 41.85 43.46 43.76 43.83 43.29 42.43 40.59 39.31 38.75 38.28 38.28 Gross Margin %
1,466 1,643 1,776 1,933 2,026 1,933 2,145 2,458 2,785 2,840 2,967 2,931 3,002 3,063 3,190 3,135 3,135 Selling, General, & Admin. Expense
-- 0.00 0.00 -- 0.00 -0.00 0.00 -- -- 0.00 0.00 -0.00 -- -- -- -- -- Other Operating Expense
441 519 578 671 783 665 860 1,052 1,131 1,297 1,347 1,300 1,113 1,035 1,158 1,262 1,262 Operating Income
8.73 9.39 9.83 10.45 11.43 10.69 11.98 13.03 12.64 13.74 13.52 13.04 10.98 9.93 10.32 10.99 10.99 Operating Margin %
-- -- -- -- 5.07 1.36 1.22 2.07 2.66 3.23 2.07 1.17 1.00 2.57 6.00 -- 6.00 Interest Income
-- -- -- -- -14.49 -8.77 -8.19 -9.09 -16.08 -13.23 -10.09 -33.57 -76.00 -80.46 -88.00 -79.00 -83.00 Interest Expense
-- -- -- -- -9.42 -7.41 -6.97 -7.02 -13.42 -9.99 -8.03 -32.41 -75.00 -86.00 -82.00 -79.00 -79.00 Net Interest Income
4.11 13.68 24.95 11.21 -0.04 49.52 0.27 6.12 0.08 0.74 -4.71 -17.21 -19.00 -13.00 5.00 26.00 26.00 Other Income (Expense)
-- -- -- -- -- -0.31 -2.72 -7.99 -8.97 -10.71 -10.57 -16.18 -27.00 -37.00 -41.00 -46.00 -46.00 Other Income (Minority Interest)
445 533 603 682 773 707 854 1,052 1,118 1,288 1,334 1,251 1,019 936 1,081 1,209 1,209 Pre-Tax Income
-158 -186 -220 -262 -298 -277 -340 -385 -419 -480 -522 -466 -386 -313 -258 -314 -314 Tax Provision
35.54 34.98 36.42 38.39 38.52 39.10 39.85 36.62 37.48 37.27 39.13 37.22 37.88 33.44 23.87 25.97 25.97 Tax Rate %
287 346 383 420 475 431 514 666 699 808 812 785 633 623 823 895 895 Net Income (Continuing Operations)
287 346 383 420 475 430 511 658 690 797 802 769 606 586 782 849 849 Net Income
5.68 6.27 6.52 6.55 6.94 6.92 7.11 8.15 7.71 8.45 8.05 7.71 5.98 5.62 6.97 7.39 7.39 Net Margin %
3.18 3.87 4.36 5.10 6.07 5.70 7.05 9.26 9.71 11.31 11.59 11.69 9.94 10.07 13.82 15.39 15.35 EPS (Basic)
3.13 3.78 4.24 4.94 5.97 5.62 6.93 9.07 9.52 11.13 11.45 11.58 9.87 10.02 13.73 15.32 15.28 EPS (Diluted)
91.67 91.59 90.52 85.05 77.89 74.89 72.14 71.18 71.18 70.58 69.21 65.77 60.84 58.00 56.50 54.90 53.94 Shares Outstanding (Diluted
Average)
98.26 109 119 132 140 148 150 149 159 181 208 228 249 264 257 229 229 Depreciation, Depletion and
Amortization
539 628 697 803 927 864 1,012 1,210 1,293 1,481 1,553 1,512 1,344 1,299 1,415 1,491 1,491 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GWW 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
429 545 348 113 396 460 313 335 452 431 227 290 274 327 538 360 360 Cash And Cash Equivalents
-- -- 12.83 20.07 -- -- -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
429 545 361 134 396 460 313 335 452 431 227 290 274 327 538 360 360 Cash, Cash Equivalents, Marketable
Securities
481 519 567 603 589 625 763 889 940 1,102 1,173 1,210 1,223 1,325 1,385 1,425 1,425 Accounts Receivable
701 791 827 946 1,010 890 992 1,269 1,302 1,306 1,356 1,414 1,406 1,429 1,541 1,655 1,655 Inventories, Other
701 791 827 946 1,010 890 992 1,269 1,302 1,306 1,356 1,414 1,406 1,429 1,541 1,655 1,655 Total Inventories
144 131 107 118 148 157 170 202 207 206 212 135 117 125 93.00 115 115 Other Current Assets
1,755 1,986 1,862 1,801 2,144 2,132 2,238 2,695 2,901 3,044 2,968 3,049 3,020 3,206 3,557 3,555 3,555 Total Current Assets
-- -- -- -- 20.83 3.51 3.46 -- -- -- -- -- -- -- -- -- -- Investments And Advances
155 162 167 178 193 238 249 252 265 277 338 324 -- 349 318 332 332 Land And Improvements
804 841 890 978 1,048 1,078 1,133 1,186 1,224 1,259 1,269 1,352 -- 1,343 1,338 1,329 1,329 Buildings And Improvements
679 716 770 848 891 950 995 1,127 1,271 1,405 1,508 1,694 -- 1,753 1,785 1,832 1,832 Machinery, Furniture, Equipment
1,638 1,720 1,827 2,004 2,132 2,266 2,378 2,565 2,760 2,941 3,115 3,370 3,412 3,445 3,441 3,493 3,493 Gross Property, Plant and Equipment
-877 -949 -1,034 -1,126 -1,202 -1,313 -1,414 -1,505 -1,616 -1,733 -1,791 -1,939 -1,991 -2,053 -2,089 -2,093 -2,093 Accumulated Depreciation
762 771 793 878 930 953 964 1,060 1,145 1,209 1,324 1,431 1,421 1,392 1,352 1,400 1,400 Property, Plant and Equipment
165 183 211 233 323 559 612 757 786 829 771 1,230 1,113 1,113 884 733 733 Intangible Assets
-- 183 211 233 213 351 387 509 544 525 507 582 527 544 424 429 429 Goodwill
128 169 180 182 97.44 79.47 87.24 204 183 185 220 148 140 93.00 80.00 317 317 Other Long Term Assets
2,810 3,108 3,046 3,094 3,515 3,726 3,904 4,716 5,015 5,266 5,283 5,858 5,694 5,804 5,873 6,005 6,005 Total Assets
289 319 335 298 291 301 344 478 429 511 554 583 650 731 678 719 719 Accounts Payable
-- -- -- -- 1.78 6.73 5.88 23.16 12.94 6.33 12.26 16.69 15.06 20.00 29.00 27.00 27.00 Total Tax Payable
618 666 695 709 721 689 795 679 647 736 812 867 955 1,065 976 1,064 1,064 Accounts Payable & Accrued
Expense
9.49 4.59 4.59 107 41.22 87.91 73.83 342 97.60 97.29 80.30 600 406 95.00 130 301 301 Current Portion of Long-Term Debt
35.25 24.55 7.08 10.46 -- -- -- 367 336 363 370 321 267 347 395 313 313 Other Current Liabilities
662 695 706 826 762 777 869 1,388 1,080 1,196 1,262 1,789 1,629 1,507 1,501 1,678 1,678 Total Current Liabilities
-- 4.90 4.90 4.90 488 438 420 175 467 446 403 1,388 1,841 2,248 2,090 1,914 1,914 Long-Term Debt
-- 4.90 4.90 4.90 488 438 420 175 467 446 403 1,388 1,841 2,248 2,090 1,914 1,914 Long-Term Debt & Capital Lease
Obligation
0.01 0.00 0.00 0.05 0.26 0.24 0.22 0.20 0.19 0.17 0.15 0.88 1.25 1.39 1.16 1.19 1.19 Debt to Equity
-- -- -- -- 198 223 244 329 231 185 238 174 193 110 86.00 -- -- PensionAndRetirementBenefit
4.48 7.02 6.24 20.73 33.22 62.22 82.50 100 119 114 95.46 154 126 111 103 106 106 NonCurrent Deferred Liabilities
-- -- -- -- -- 63.48 82.45 95.49 93.45 76.40 74.23 86.08 108 138 172 205 205 Minority Interest
74.69 112 151 144 0.00 0.00 0.00 -0.00 0.00 0.00 0.00 0.00 0.00 -- -- 247 247 Other Long-Term Liabilities
742 819 868 996 1,482 1,499 1,617 1,992 1,897 1,939 1,999 3,505 3,789 3,976 3,780 3,945 3,945 Total Liabilities
54.84 54.83 54.83 54.83 54.83 54.83 54.83 54.83 54.83 54.83 54.83 54.83 54.83 55.00 55.00 55.00 55.00 Common Stock
2,458 2,722 3,008 3,317 3,671 3,967 4,327 4,806 5,279 5,823 6,336 6,802 7,114 7,405 7,869 8,405 8,405 Retained Earnings
3.59 9.80 -31.78 72.17 -38.53 12.37 42.95 -28.74 53.58 28.91 -96.67 -221 -272 -135 -171 -154 -154 Accumulated other comprehensive
income (loss)
432 452 514 475 565 596 638 701 813 893 948 1,000 1,030 1,041 1,134 1,182 1,182 Additional Paid-In Capital
-881 -949 -1,367 -1,821 -2,218 -2,466 -2,857 -2,904 -3,176 -3,549 -4,033 -5,370 -6,128 -6,676 -6,966 -7,633 -7,633 Treasury Stock
2,068 2,289 2,178 2,098 2,034 2,164 2,205 2,629 3,024 3,250 3,210 2,267 1,798 1,690 1,921 1,855 1,855 Total Equity
0.74 0.74 0.72 0.68 0.58 0.58 0.57 0.56 0.60 0.62 0.61 0.39 0.32 0.29 0.33 0.31 0.31 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GWW 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
287 346 383 420 475 431 514 666 699 808 812 785 633 623 823 895 895 Net Income
287 346 383 420 475 431 514 666 699 808 812 785 633 623 823 895 895 Net Income From Continuing
Operations
98.26 109 119 132 140 148 150 149 159 181 208 228 249 264 257 229 229 Depreciation, Depletion and
Amortization
-49.94 -36.38 -53.06 -41.81 -5.59 2.79 -128 -85.08 -45.95 -126 -123 -3.09 -46.00 -103 -79.00 -42.00 -42.00 Change In Receivables
-30.73 -84.03 -33.84 -97.23 -92.52 175 -80.55 -220 -14.87 -23.64 -92.44 -37.74 -4.00 -5.00 -129 -106 -106 Change In Inventory
-9.09 -6.25 -3.92 -2.34 -33.63 -11.18 -8.81 -24.23 8.35 16.87 -24.55 15.79 19.00 -5.00 -2.00 -33.00 -33.00 Change In Prepaid Assets
29.30 27.12 10.89 -39.44 -14.74 -14.26 34.72 103 -63.66 66.31 30.53 30.07 65.00 185 -33.00 -52.00 -52.00 Change In Payables And Accrued
Expense
8.27 -57.10 -100 -106 -143 122 -115 -129 -129 -57.76 -165 -46.78 42.00 70.00 -234 -255 -255 Change In Working Capital
-4.45 23.66 9.86 -18.63 5.18 21.68 -5.55 1.67 12.34 -9.32 -13.73 4.08 -6.00 -5.00 7.00 4.00 4.00 Change In DeferredTax
-- -- -- -- 47.87 43.30 49.80 54.02 55.50 55.59 49.03 46.86 36.00 33.00 47.00 40.00 40.00 Stock Based Compensation
17.49 10.88 25.09 41.75 5.16 -32.66 3.66 4.18 14.53 -16.66 52.56 18.82 18.00 44.00 1.00 6.00 129 Cash Flow from Others
406 433 437 469 530 732 596 746 816 986 960 1,036 1,024 1,057 1,057 1,042 1,042 Cash Flow from Operations
-128 -112 -137 -197 -181 -141 -127 -197 -250 -272 -387 -374 -284 -237 -239 -221 -221 Purchase Of Property, Plant,
Equipment
17.62 15.04 17.31 12.08 13.62 1.68 6.51 7.28 8.53 26.70 -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -34.29 -123 -62.07 -359 -64.81 -154 -30.71 -485 -34.00 -35.00 -13.00 -- -1.00 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 2.00 2.00 Sale Of Business
-- -- -13.19 -17.08 -6.49 -- -- -- -- -- -- -- -- -- -- -- -- Purchase Of Investment
0.05 -- 27.84 12.77 19.85 -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Investment
-- -- -- -- -12.30 -- -- -- -- -- -- -- -- -- -- -- -- Net Intangibles Purchase And Sale
-31.78 -65.73 -34.95 -7.30 -1.67 -0.42 13.53 13.89 0.48 -0.07 34.05 15.32 56.00 126 86.00 17.00 17.00 Cash From Other Investing Activities
-142 -163 -140 -197 -203 -263 -169 -535 -306 -399 -384 -843 -262 -146 -166 -202 -202 Cash Flow from Investing
72.28 66.00 64.44 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-101 -137 -473 -647 -394 -373 -505 -151 -341 -438 -525 -1,400 -790 -605 -425 -700 -700 Repurchase of Stock
-141 -- -- 102 419 -16.31 -33.62 17.73 36.20 -26.33 -23.96 1,556 292 23.00 -101 -37.00 -37.00 Net Issuance of Debt
-71.24 -82.66 -97.90 -113 -122 -135 -152 -181 -220 -255 -291 -306 -303 -304 -316 -328 -328 Cash Flow for Dividends
-- -- 13.37 144 60.37 110 112 136 130 129 82.35 42.23 25.00 19.00 172 42.00 42.00 Other Financing
-241 -154 -493 -514 -36.81 -414 -579 -177 -394 -591 -758 -109 -776 -867 -670 -1,023 -1,023 Cash Flow from Financing
26.42 116 -196 -235 283 63.58 -146 22.04 117 -21.42 -204 63.49 -16.00 53.00 211 -178 -178 Net Change in Cash
-128 -112 -137 -197 -181 -141 -127 -197 -250 -272 -387 -374 -284 -237 -239 -221 -221 Capital Expenditure
278 320 300 271 349 592 469 549 566 714 572 662 740 820 818 821 821 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GWW 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
21.28 18.81 16.50 17.72 13.27 17.23 19.93 20.64 21.26 22.97 22.26 17.56 23.63 23.58 20.57 22.15 18.56 PE Ratio(TTM)
21.00 20.09 19.79 22.69 17.20 12.20 23.92 24.77 24.66 24.25 28.70 18.56 23.15 21.60 30.04 31.66 26.52 Price to Owner Earnings
(TTM)
2.92 2.79 2.70 3.29 2.90 3.23 4.34 4.98 4.65 5.41 5.35 5.54 7.60 7.87 8.21 9.80 8.21 Price to Book
3.17 3.03 2.99 3.71 3.45 4.36 6.01 7.00 6.28 7.26 7.05 12.13 19.95 23.06 15.21 16.20 13.57 Price to Tangible Book
21.94 20.27 20.88 27.33 17.46 12.25 21.27 24.27 25.39 25.24 30.78 19.93 18.99 16.62 19.51 22.56 18.90 Price-to-Free-Cash-Flow
Ratio
15.02 15.01 14.36 15.81 11.54 9.90 16.69 17.87 17.62 18.27 18.36 12.76 13.73 12.91 15.10 17.79 14.91 Price-to-Operating-Cash-
Flow Ratio
1.21 1.18 1.08 1.16 0.90 1.17 1.39 1.65 1.61 1.91 1.77 1.33 1.39 1.31 1.42 1.62 1.34 PS Ratio
3.68 3.08 1.79 1.30 0.75 1.01 1.31 1.33 1.48 1.60 1.61 1.81 3.68 8.42 9.84 5.54 5.25 PEG Ratio
1.11 1.06 0.94 1.07 0.88 1.15 1.37 1.66 1.59 1.88 1.76 1.44 1.55 1.48 1.57 1.76 1.49 EV-to-Revenue
10.41 9.37 7.94 8.58 6.50 8.25 9.73 11.05 11.03 12.00 11.28 9.49 11.71 11.90 12.46 13.57 11.60 EV-to-EBITDA
12.73 11.35 9.56 10.27 7.65 9.95 11.42 12.61 12.58 13.66 13.03 11.17 14.37 14.94 15.22 16.03 13.69 EV-to-EBIT
7.86 8.81 10.46 9.74 13.07 10.05 8.76 7.93 7.95 7.32 7.67 8.95 6.96 6.69 6.57 6.24 7.31 Return on Capital %
9.81 10.67 13.57 17.18 22.40 21.54 18.94 18.64 17.70 17.54 17.00 13.94 10.56 7.40 6.21 7.84 8.50 Forward Rate of Return
26.61 26.11 23.51 26.55 22.13 24.41 30.89 35.58 33.79 37.03 33.36 24.10 25.68 24.29 26.64 29.01 24.28 Shiller PE Ratio
1.18 1.29 1.59 1.53 1.97 1.84 1.51 1.35 1.51 1.41 1.64 2.27 2.08 2.14 1.90 1.68 2.02 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6,036 6,379 5,880 6,911 5,896 6,999 9,582 13,096 14,060 17,587 17,188 12,566 13,657 13,308 15,773 18,174 15,217 Market Cap
5,616 5,843 5,528 6,889 6,029 7,128 9,845 13,373 14,266 17,775 17,519 14,351 15,738 15,462 17,627 20,234 17,277 Enterprise Value
66.62 71.10 69.94 87.52 78.84 96.83 138 187 202 255 255 203 232 236 282 339 284 Month End Stock Price
-3.45 -3.05 -6.03 -10.92 -14.51 -15.26 -19.97 -25.04 -22.15 -23.02 -27.38 -53.22 -61.60 -67.23 -61.11 -70.59 -70.59 Net Cash (per share)
11.18 13.00 11.82 10.19 8.86 7.87 7.77 8.68 13.10 14.94 13.26 -8.75 -14.90 -16.12 -7.07 -11.08 -11.08 Net Current Asset Value
(per share)
4.40 5.69 3.94 0.79 -1.85 -2.62 -4.58 -6.45 -2.63 -1.54 -4.28 -27.19 -34.04 -36.90 -28.73 -35.27 -35.27 Net-Net Working Capital (per
share)
39.97 50.47 59.16 66.79 81.47 93.21 106 117 131 148 162 149 145 153 167 178 178 Projected FCF (per share)
55.84 61.85 66.49 77.17 89.32 85.33 107 128 146 163 184 207 237 258 298 321 321 Median PS (per share)
18.09 23.06 39.14 67.18 106 95.82 106 141 137 160 158 112 63.11 -- -- -- -- Peter Lynch Fair Value (per
share)
38.46 44.68 47.24 51.24 55.44 52.99 59.84 73.90 83.05 93.85 96.53 65.98 50.85 48.06 75.73 84.88 84.76 Graham Number (per share)
46.73 53.07 58.81 66.09 78.06 86.21 96.63 107 120 133 145 144 146 155 173 193 193 Earnings Power Value
(EPV)
8.89 8.74 8.48 8.84 7.00 7.03 8.10 8.16 8.89 10.02 9.95 6.46 6.62 6.52 7.37 7.72 7.31 Altman Z-Score
9.00 8.00 7.00 8.00 8.00 6.00 8.00 7.00 6.00 7.00 6.00 4.00 5.00 6.00 8.00 7.00 7.00 Piotroski F-Score
-2.57 -2.53 -2.47 -2.54 -2.70 -2.69 -2.37 -2.39 -2.55 -2.51 -2.57 -2.77 -2.85 -2.81 -2.71 -2.56 -2.56 Beneish M-Score
0.63 0.62 0.59 0.68 0.70 0.65 0.66 0.74 0.69 0.69 0.67 0.77 0.66 0.68 0.65 0.67 0.66 Scaled Net Operating
Assets
0.81 2.47 2.84 4.79 4.21 -1.06 2.14 9.49 3.58 3.99 4.28 9.84 -2.74 -5.60 -1.86 0.15 0.15 Sloan Ratio (%)
2.65 2.86 2.64 2.18 2.81 2.74 2.57 1.94 2.69 2.55 2.35 1.70 1.85 2.13 2.37 2.12 2.12 Current Ratio
1.59 1.72 1.47 1.03 1.49 1.60 1.43 1.03 1.48 1.45 1.28 0.91 0.99 1.18 1.34 1.13 1.13 Quick Ratio
66.62 71.97 79.73 98.45 93.10 101 139 192 220 274 269 255 240 258 369 339 347 Highest Stock Price
45.17 52.29 60.62 69.34 59.92 61.37 96.83 126 177 202 229 191 183 156 225 259 255 Lowest Stock Price
0.47 0.97 6.30 6.07 5.30 3.35 4.01 -0.84 0.69 0.90 2.07 8.01 5.20 4.21 0.83 3.89 3.89 Shares Buyback Ratio (%)
9.05 9.54 7.71 16.11 16.54 -5.53 19.84 14.00 10.78 6.35 7.68 5.32 9.87 7.88 10.49 5.34 5.37 YoY Rev. per Sh. Growth
(%)
27.24 20.77 12.17 16.51 20.85 -5.86 23.31 30.88 4.96 16.91 2.88 1.14 -14.77 1.52 37.03 11.58 11.29 YoY EPS Growth (%)
13.97 16.51 12.28 22.64 26.14 -3.13 21.61 21.21 6.86 15.56 6.89 2.49 -3.93 1.39 11.82 8.44 8.10 YoY EBITDA Growth (%)
5.78 6.10 9.23 13.60 17.80 17.05 15.26 15.51 14.37 14.40 13.80 9.72 6.42 2.80 2.09 4.00 3.60 EBITDA 5-Y Growth (%)
90.21 89.57 87.84 82.40 76.58 73.79 70.84 69.69 69.81 69.46 68.33 65.16 60.43 57.70 56.10 54.70 53.91 Shares Outstanding (Basic
Average)
90.60 89.72 84.07 78.96 74.78 72.28 69.38 69.96 69.48 68.85 67.43 62.03 58.80 56.33 55.86 53.69 53.69 Shares Outstanding (EOP)
0.67 0.98 1.44 1.17 0.96 0.92 0.97 0.89 0.94 0.78 1.14 0.71 0.65 0.60 1.50 1.28 1.25 Beta
02/28/05 03/06/06 02/27/07 02/27/08 02/27/09 02/25/10 02/28/11 02/28/12 02/28/13 02/27/14 02/27/15 02/29/16 02/28/17 02/26/18 02/28/19 02/20/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GWW 6/7
03/06/06 02/27/07 02/27/07 02/27/08 02/28/11 02/28/11 02/28/13 02/27/14 02/27/15 02/29/16 02/28/17 02/26/18 02/28/19 02/20/20 02/20/20 02/20/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/GWW 7/7
Moody's Corporation (NYSE:MCO) 03/03/2020 2:00PM EST GuruFocus
Price: $ 253.02 -6.50(-2.50%) Market Cap: $ 47.42 B Enterprise Value: $51.86 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 10/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 34.12
Cash to Debt 0.31 Operating margin (%) 42.97
Forward P/E N/A
Equity to Asset 0.06 Net-margin (%) 29.45
PE(NRI) 34.12
Interest Coverage 9.22 ROE (%) 352.05
F-Score:
P/B 78.96
ROA (%) 14.70
5 P/S 10.04
Z-Score: ROC (Joel Greenblatt) (%) 263.02
5.74 PFCF 30.17
Revenue Growth (3Y)(%) 11.00
M-Score: POCF 28.93
-2.41 EBITDA Growth (3Y)(%) 38.80
EV-to-EBIT 25.49
WACC vs 8.61% EPS Growth (3Y)(%) 76.00
ROIC 32.46% PEG 3.02
WACC
ROIC Shiller P/E 57.71
Current Ratio 1.92
Quick Ratio 1.92
Days Sales Outstanding 107.26
Warning Signs Quarterly Revenues Company Description
Price: Close to 10-year high Mar Jun Sep Dec Full Year Moody's is the world's second-largest provider of credit ratings, trailing only S&P Global. The company provides ratings
on more than a third of the total bond ratings in existence. Within ratings, roughly half of its revenue is derived from
2016 816 929 917 942 3,604 corporate issuers, while the rest of its corporate ratings are split among financial institutions, structured products, and
PS Ratio: Close to 10-year
2017 975 1,001 1,063 1,165 4,204 public institutions. Moody's Analytics (13.5% of operating income) provides ancillary software and data solutions to
high issuers and investors. In 2017, the company bought Bureau van Dijk, a provider of private company data, for $3.5
2018 1,127 1,175 1,081 1,060 4,443 billion to bolster its efforts in analytics.... (Read More)
Long-Term Debt: Issuing new 2019 1,142 1,214 1,241 1,233 4,829 Competitors: NYSE:ICE, HKSE:00388 , LSE:LSE, XTER:DB1 , NYSE:SPGI, NAS:CME, NYSE:MSCI,
debt 2020 BSP:B3SA3, NAS:NDAQ, BATS:CBOE, NYSE:FDS, ASX:ASX, TSE:8697, SGX:S68, NAS:MORN, XPAR:ENX,
TSX:X, MIC:MOEX, XMAD:BME, SHSE:601519
Insider Sell: Insider Selling Quarterly Earnings per Share
Insider Trades
Mar Jun Sep Dec Full Year
Good Signs 2016 0.93 1.30 1.31 -2.25 1.29
2017 1.78 1.61 1.63 0.13 5.15
Altman Z-Score: Strong 2018 1.92 1.94 1.59 1.29 6.74
Revenue per Share: 2019 1.93 1.62 1.99 1.88 7.42
Consistent growth 2020
Operating Margin %: Quarterly Dividends Per Share
Expansion Mar Jun Sep Dec Full Year
2016 0.37 0.37 0.37 0.37 1.48
DCF 2017 0.38 0.38 0.38 0.38 1.52
2018 0.44 0.44 0.44 0.44 1.76
EPS without NRI: $7.42 2019 0.50 0.50 0.50 0.50 2.00
Growth Rate in the next 10 2020
years: 12.30%
Terminal Growth Rate for 10 Growth Rate
years: 4% Annual Rates(per share) 10-Y 5-Y 12-M
Fair Value: $127.16
Revenue Growth (%) 12.90 10.40 10.30
EBITDA Growth (%) 13.40 11.60 8.30
Reverse DCF Free Cash Flow Growth (%) 11.80 10.40 18.90
Expected eps Growth Rate: Book Value Growth (%) 0.00 0.00 33.10
22.73%
EPS Growth (%) 12.30 14.80 10.10
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCO 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4.72 5.67 6.98 8.30 7.16 7.56 8.59 9.94 12.05 13.30 15.53 17.13 18.45 21.65 22.86 25.20 25.21 Revenue per Share
2.69 3.19 4.45 4.50 3.57 3.14 3.54 4.30 5.24 6.09 7.83 7.95 4.37 11.17 10.77 11.67 11.67 EBITDA per Share
2.58 3.08 4.32 4.34 3.26 2.87 3.25 3.96 4.82 5.67 7.38 7.40 3.72 10.36 9.78 10.62 10.63 EBIT per Share
1.40 1.84 2.58 2.58 1.87 1.69 2.15 2.49 3.05 3.60 4.61 4.63 1.36 5.15 6.74 7.42 7.42 Earnings per Share (diluted)
1.40 1.84 2.58 2.58 1.87 1.69 2.15 2.49 3.05 3.60 4.61 4.63 1.36 5.15 6.74 7.42 7.42 eps without NRI
1.39 1.93 3.34 3.90 1.85 2.07 2.23 2.89 3.06 3.83 4.92 5.26 5.83 3.73 6.38 7.35 7.35 Owner Earnings per Share (TTM)
1.64 2.21 2.47 2.95 1.86 2.33 2.43 3.21 3.43 3.96 4.40 5.45 5.86 3.42 7.05 8.38 8.39 Free Cashflow per Share
0.15 0.18 0.28 0.32 0.40 0.40 0.42 0.54 0.64 0.90 1.12 1.36 1.48 1.52 1.76 2.00 2.00 Dividends per Share
1.07 1.07 0.60 -3.12 -4.23 -2.56 -1.34 -0.76 1.73 1.58 -0.92 -2.88 -6.42 -1.72 2.40 3.19 3.20 Book Value per Share
0.39 0.30 -0.27 -4.06 -6.15 -4.48 -4.09 -4.79 -2.14 -2.57 -7.61 -9.39 -13.35 -29.91 -25.55 -24.05 -24.13 Tangible Book per Share
1.01 1.03 1.08 4.58 6.24 5.04 5.37 5.59 7.49 9.82 12.47 17.24 17.64 29.01 29.67 32.12 32.23 Total Debt per Share
43.43 61.42 69.06 35.70 20.09 26.80 26.54 33.68 50.32 78.47 95.81 100 94.27 148 140 237 253 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
298 179 316 -- -- -- -- -- 638 223 1,325 -- -- -- 1,995 266 352 Return on Equity %
36.31 39.40 51.03 43.68 26.24 21.29 22.35 21.10 20.18 19.26 21.82 19.27 5.11 14.38 14.46 14.37 14.70 Return on Assets %
1,710 1,868 2,146 854 346 252 252 281 345 432 545 494 230 618 590 381 263 Return on Capital %
29,889 3,417 11,770 -- 605 260 290 213 249 274 159 118 163 47.79 34.71 34.24 32.46 Return on Invested Capital %
5.15 7.85 12.37 15.96 9.32 9.55 9.40 8.47 9.93 11.73 11.23 8.59 8.11 8.15 10.41 9.35 8.61 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.37 2.70 4.57 5.43 4.73 5.16 5.31 4.21 4.99 5.05 4.10 3.80 3.78 Effective Interest Rate on Debt %
73.90 73.84 73.52 74.15 71.90 70.38 70.24 70.03 70.88 72.33 72.10 71.98 71.71 71.08 71.96 71.28 71.28 Gross Margin %
54.68 54.26 61.83 52.28 42.48 39.23 38.04 39.23 40.38 42.18 43.35 42.47 42.40 43.86 43.33 42.97 42.97 Operating Margin %
29.56 32.39 37.01 31.05 26.07 22.37 24.99 25.05 25.27 27.06 29.65 27.01 7.40 23.81 29.48 29.45 29.45 Net Margin %
34.65 39.07 35.41 35.51 25.94 30.78 28.26 32.25 28.50 29.76 28.31 31.83 31.74 15.79 30.84 33.26 33.26 FCF Margin %
0.95 0.97 1.79 -1.47 -1.48 -1.97 -4.00 -7.36 4.34 6.24 -13.56 -5.98 -2.75 -16.91 12.37 10.06 10.06 Debt to Equity
0.23 0.21 0.11 -0.46 -0.56 -0.30 -0.12 -0.06 0.10 0.08 -0.04 -0.11 -0.23 -0.04 0.05 0.06 0.06 Total Equity to Total Asset
0.22 0.21 0.20 0.67 0.83 0.60 0.49 0.43 0.42 0.48 0.55 0.66 0.63 0.65 0.60 0.60 0.60 Total Debt to Total Asset
90.78 89.84 101 104 72.37 66.98 62.82 58.98 56.61 51.46 53.04 51.33 49.56 42.93 35.29 34.78 35.57 Gross Profit to Total Asset %
1.23 1.22 1.38 1.41 1.01 0.95 0.89 0.84 0.80 0.71 0.74 0.71 0.69 0.60 0.49 0.49 0.50 Asset Turnover
0.11 0.10 0.11 0.12 0.21 0.24 0.20 0.22 0.21 0.25 0.24 0.29 1.09 0.30 0.26 0.27 0.27 Dividend Payout Ratio
94.33 88.91 85.18 71.68 87.70 90.36 89.36 78.39 83.13 85.24 86.74 84.01 89.87 99.60 106 107 107 Days Sales Outstanding
276 226 5.95 5.06 6.36 4.87 8.63 8.76 6.57 7.28 7.61 8.30 10.17 6.54 8.79 10.00 10.00 Days Accounts Payable
-182 -137 79.23 66.62 81.34 85.49 80.73 69.63 76.56 77.96 79.13 75.71 79.70 93.06 96.94 97.26 97.26 Cash Conversion Cycle
0.26 0.26 0.26 0.26 0.28 0.30 0.30 0.30 0.29 0.28 0.28 0.28 0.28 0.29 0.28 0.29 0.29 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCO 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,438 1,732 2,037 2,259 1,755 1,797 2,032 2,281 2,730 2,973 3,334 3,485 3,604 4,204 4,443 4,829 4,829 Revenue
375 453 539 584 493 532 605 684 795 822 930 976 1,020 1,216 1,246 1,387 1,387 Cost of Goods Sold
1,063 1,279 1,498 1,675 1,262 1,265 1,427 1,597 1,935 2,150 2,404 2,508 2,585 2,988 3,197 3,442 3,442 Gross Profit
73.90 73.84 73.52 74.15 71.90 70.38 70.24 70.03 70.88 72.33 72.10 71.98 71.71 71.08 71.96 71.28 71.28 Gross Margin %
242 304 359 451 441 496 588 630 752 822 869 921 931 986 1,080 1,167 1,167 Selling, General, & Admin. Expense
34.10 35.20 -121 42.90 75.10 64.10 66.30 72.80 80.70 74.20 89.20 107 125 158 192 200 200 Other Operating Expense
786 940 1,260 1,181 746 705 773 895 1,102 1,254 1,446 1,480 1,528 1,844 1,925 2,075 2,075 Operating Income
54.68 54.26 61.83 52.28 42.48 39.23 38.04 39.23 40.38 42.18 43.35 42.47 42.40 43.86 43.33 42.97 42.97 Operating Margin %
-- -- -- -- 29.10 2.50 3.10 5.30 5.20 5.50 6.70 9.70 10.90 16.00 15.00 17.00 17.00 Interest Income
-- -- -- -- -70.30 -35.90 -55.60 -67.40 -69.00 -97.30 -124 -125 -168 -225 -230 -225 -225 Interest Expense
-- -- -- -- -41.20 -33.40 -52.50 -62.10 -63.80 -91.80 -117 -115 -157 -209 -215 -208 -208 Net Interest Income
-15.10 -4.90 1.00 -64.30 25.30 -25.40 -6.00 7.10 -14.60 7.30 132 14.90 -813 152 -38.00 -57.00 -57.00 Other Income (Expense)
-- -- -- -- -4.00 -5.10 -5.60 -6.60 -9.70 -11.40 -17.30 -8.30 -9.20 -7.00 -10.00 -7.00 -7.00 Other Income (Minority Interest)
771 935 1,261 1,117 730 646 714 840 1,024 1,169 1,461 1,380 558 1,787 1,672 1,810 1,810 Pre-Tax Income
-346 -374 -507 -415 -268 -239 -201 -262 -324 -353 -455 -430 -282 -779 -352 -381 -381 Tax Provision
44.89 40.00 40.19 37.18 36.75 37.00 28.14 31.17 31.67 30.22 31.14 31.17 50.57 43.59 21.05 21.05 21.05 Tax Rate %
425 561 754 702 462 407 513 578 700 816 1,006 950 276 1,008 1,320 1,429 1,429 Net Income (Continuing Operations)
425 561 754 702 458 402 508 571 690 805 989 941 267 1,001 1,310 1,422 1,422 Net Income
29.56 32.39 37.01 31.05 26.07 22.37 24.99 25.05 25.27 27.06 29.65 27.01 7.40 23.81 29.48 29.45 29.45 Net Margin %
1.43 1.88 2.65 2.63 1.89 1.70 2.16 2.52 3.09 3.67 4.69 4.70 1.38 5.24 6.84 7.51 7.52 EPS (Basic)
1.40 1.84 2.58 2.58 1.87 1.69 2.15 2.49 3.05 3.60 4.61 4.63 1.36 5.15 6.74 7.42 7.42 EPS (Diluted)
305 306 292 272 245 238 237 229 227 224 215 203 195 194 194 192 191 Shares Outstanding (Diluted
Average)
34.10 35.20 39.50 42.90 75.10 64.10 66.30 79.20 93.50 93.40 95.60 114 127 158 192 200 200 Depreciation, Depletion and
Amortization
821 975 1,299 1,224 875 746 836 986 1,187 1,360 1,680 1,618 853 2,170 2,094 2,235 2,235 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCO 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
606 486 408 426 246 474 660 760 1,755 1,920 1,220 1,757 2,052 1,072 1,685 1,832 1,832 Cash And Cash Equivalents
7.30 94.50 75.40 14.70 7.10 10.00 12.70 14.80 17.90 187 458 475 173 112 133 98.00 98.00 Marketable Securities
613 581 484 441 253 484 672 775 1,773 2,106 1,678 2,232 2,225 1,183 1,818 1,930 1,930 Cash, Cash Equivalents, Marketable
Securities
372 422 475 444 422 445 498 490 622 694 792 802 887 1,147 1,287 1,419 1,419 Accounts Receivable
50.80 49.50 43.00 105 134 84.10 173 160 131 168 216 209 141 250 282 330 330 Other Current Assets
1,036 1,052 1,002 989 809 1,013 1,343 1,424 2,526 2,969 2,686 3,243 3,253 2,581 3,387 3,679 3,679 Total Current Assets
-- -- -- -- -- 30.40 30.80 37.20 38.30 37.50 21.60 28.70 26.30 99.10 105 117 117 Investments And Advances
25.40 25.80 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Land And Improvements
35.10 44.00 30.90 138 -- -- -- -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
71.10 79.10 92.40 128 225 283 332 389 424 455 533 605 688 790 868 891 891 Machinery, Furniture, Equipment
162 190 178 336 378 458 520 585 621 654 754 825 921 1,031 1,110 1,587 1,587 Gross Property, Plant and Equipment
-117 -135 -116 -121 -130 -165 -201 -258 -314 -376 -452 -519 -596 -706 -790 -839 -839 Accumulated Depreciation
45.20 55.40 62.00 215 248 293 319 327 307 279 302 306 326 325 320 748 748 Property, Plant and Equipment
202 223 242 237 452 454 634 897 864 887 1,367 1,275 1,320 5,385 5,347 5,220 5,220 Intangible Assets
-- -- 176 180 338 349 466 643 637 665 1,021 976 1,024 3,753 3,781 3,722 3,722 Goodwill
106 127 192 274 265 213 213 191 226 223 292 249 402 205 367 501 501 Other Long Term Assets
1,389 1,457 1,498 1,715 1,773 2,003 2,540 2,876 3,961 4,395 4,669 5,103 5,327 8,594 9,526 10,265 10,265 Total Assets
284 280 8.80 8.10 8.60 7.10 14.30 16.40 14.30 16.40 19.40 22.20 28.40 21.80 30.00 38.00 38.00 Accounts Payable
-- -- -- -- 3.50 20.30 26.90 23.40 56.10 47.50 16.10 11.50 16.80 79.20 71.00 73.00 73.00 Total Tax Payable
284 280 340 371 240 317 352 281 298 347 350 379 1,248 465 507 530 530 Accounts Payable & Accrued
Expense
300 -- -- 552 718 448 11.30 71.30 63.80 -- -- -- 300 429 450 89.00 89.00 Current Portion of Long-Term Debt
267 299 360 426 435 471 508 538 567 620 642 660 712 906 973 1,078 1,078 Current Deferred Revenue
-- -- -- -- -- -- -- -- -- 4.00 17.50 16.70 -- -- -- -- -- Current Deferred Taxes Liabilities
267 299 360 426 435 471 511 540 567 624 659 677 712 906 973 1,078 1,078 DeferredTaxAndRevenue
-- -0.00 -- -- -- -- 59.40 242 235 171 191 163 168 263 169 215 215 Other Current Liabilities
851 579 700 1,349 1,393 1,236 934 1,134 1,165 1,141 1,200 1,219 2,428 2,063 2,099 1,912 1,912 Total Current Liabilities
-- 300 300 600 750 746 1,228 1,173 1,607 2,102 2,547 3,381 3,063 5,111 5,226 5,581 5,581 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 485 485 Capital Lease Obligation
-- 300 300 600 750 746 1,228 1,173 1,607 2,102 2,547 3,381 3,063 5,111 5,226 6,066 6,066 Long-Term Debt & Capital Lease
Obligation
0.95 0.97 1.79 -1.47 -1.48 -1.97 -4.00 -7.36 4.34 6.24 -13.56 -5.98 -2.75 -16.91 12.37 10.06 10.06 Debt to Equity
-- -- -- -- -- -- 133 188 213 164 245 262 264 245 249 299 299 PensionAndRetirementBenefit
-- -- -- -- 134 135 234 256 263 275 332 315 337 585 568 469 469 NonCurrent Deferred Liabilities
-- -- -- -- 8.30 10.10 11.20 10.60 11.40 10.90 231 232 198 213 197 219 219 Minority Interest
221 269 330 549 483 482 310 284 316 365 302 261 263 706 728 688 688 Other Long-Term Liabilities
1,072 1,148 1,330 2,498 2,760 2,599 2,839 3,035 3,564 4,047 4,626 5,436 6,355 8,709 8,870 9,434 9,434 Total Liabilities
3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.00 3.00 3.00 Common Stock
939 1,419 2,091 2,661 3,023 3,329 3,736 4,176 4,713 5,302 6,044 6,709 6,689 7,465 8,594 9,656 9,656 Retained Earnings
9.70 -0.90 -8.40 15.60 -52.10 -41.20 -33.40 -108 -82.10 -54.60 -235 -340 -365 -172 -426 -439 -439 Accumulated other comprehensive
income (loss)
142 241 346 388 393 391 392 395 365 406 384 451 477 529 601 642 642 Additional Paid-In Capital
-777 -1,353 -2,265 -3,852 -4,362 -4,289 -4,407 -4,636 -4,615 -5,320 -6,384 -7,389 -8,030 -8,153 -8,313 -9,250 -9,250 Treasury Stock
318 309 167 -784 -994 -606 -310 -169 385 337 -188 -565 -1,225 -328 459 612 612 Total Equity
0.23 0.21 0.11 -0.46 -0.56 -0.30 -0.12 -0.06 0.10 0.08 -0.04 -0.11 -0.23 -0.04 0.05 0.06 0.06 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCO 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
425 561 754 702 462 407 513 578 700 816 1,006 950 276 1,008 1,320 1,429 1,429 Net Income
425 561 754 702 462 407 513 578 700 816 1,006 950 276 1,008 1,320 1,429 1,429 Net Income From Continuing
Operations
34.10 35.20 39.50 42.90 75.10 64.10 66.30 79.20 93.50 93.40 95.60 114 127 158 192 200 200 Depreciation, Depletion and
Amortization
-87.30 -53.10 -42.40 36.70 26.20 -14.90 -54.40 17.10 -128 -67.00 -98.30 -25.40 -105 -148 -136 -134 -134 Change In Receivables
36.50 -16.00 141 53.90 -118 50.40 83.50 23.90 102 -2.90 59.20 51.40 902 -638 -134 77.00 77.00 Change In Payables And Accrued
Expense
-15.20 4.90 172 323 -27.60 104 34.60 92.90 -54.40 35.60 -25.40 36.10 950 -451 -82.00 -104 -104 Change In Working Capital
-9.60 -20.20 -27.20 -76.40 -17.30 16.50 -10.60 3.90 23.30 -46.40 23.50 11.70 -155 88.00 -99.00 -38.00 -38.00 Change In DeferredTax
-- -- -- -- 63.20 57.40 56.60 56.70 64.50 67.10 80.40 87.20 98.10 123 130 136 136 Stock Based Compensation
85.30 127 -186 -7.30 -15.30 -5.00 -7.00 -7.40 -15.70 -38.80 -162 -0.00 -36.60 -171 -- 14.00 52.00 Cash Flow from Others
520 708 753 984 540 644 653 803 823 927 1,019 1,198 1,259 755 1,461 1,675 1,675 Cash Flow from Operations
-21.30 -31.30 -31.10 -182 -84.40 -90.70 -79.00 -67.70 -45.00 -42.30 -74.60 -89.00 -115 -91.00 -91.00 -69.00 -69.00 Purchase Of Property, Plant,
Equipment
-- -- 164 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -241 -0.90 -149 -198 -3.50 -50.70 -240 -7.60 -80.80 -3,511 -289 -162 -- Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- 1.50 -- 6.00 226 -- Sale Of Business
-- -324 -414 -191 -10.30 -17.60 -26.20 -43.30 -56.20 -226 -406 -688 -407 -170 -193 -145 -145 Purchase Of Investment
-- 236 437 253 15.90 15.40 25.00 40.90 54.50 57.00 156 693 703 352 161 186 186 Sale Of Investment
-- -- -- -- 0.90 -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-3.50 -30.20 -39.20 -4.40 0.00 0.00 -0.00 -0.00 -- 0.00 0.00 0.00 -- -- -- -- 64.00 Cash From Other Investing Activities
-24.80 -150 116 -125 -319 -93.80 -229 -268 -50.20 -262 -565 -92.00 102 -3,420 -406 36.00 36.00 Cash Flow from Investing
105 89.10 105 65.90 23.50 -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-221 -692 -1,094 -1,738 -593 -- -224 -334 -197 -893 -1,221 -1,098 -739 -200 -203 -991 -991 Repurchase of Stock
-1.30 -1.30 -0.60 845 315 -275 48.30 -11.30 425 433 448 853 -- 2,122 159 -129 -129 Net Issuance of Debt
-44.70 -60.30 -79.50 -85.20 -102 -98.20 -98.60 -121 -143 -197 -236 -272 -285 -290 -337 -378 -378 Cash Flow for Dividends
-- -2.30 103 50.80 30.30 24.80 32.60 48.40 117 158 -55.70 11.90 -19.00 -32.00 -31.00 -65.00 -65.00 Other Financing
-162 -667 -965 -862 -350 -349 -241 -418 203 -499 -1,065 -506 -1,043 1,600 -412 -1,563 -1,563 Cash Flow from Financing
337 -120 -77.90 18.20 -180 228 186 100 995 164 -700 538 294 -980 613 147 147 Net Change in Cash
-21.30 -31.30 -31.10 -182 -84.40 -90.70 -79.00 -67.70 -45.00 -42.30 -74.60 -89.00 -115 -91.00 -91.00 -69.00 -69.00 Capital Expenditure
498 677 721 802 455 553 574 736 778 885 944 1,109 1,144 664 1,370 1,606 1,606 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCO 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
31.02 33.38 26.56 13.84 10.80 15.86 12.34 13.53 16.61 21.80 20.83 21.72 73.08 28.66 20.78 32.00 34.12 PE Ratio(TTM)
31.33 31.84 20.68 9.17 10.86 12.97 11.91 11.64 16.43 20.52 19.48 19.08 16.16 39.53 21.95 32.31 34.42 Price to Owner Earnings
(TTM)
40.74 57.62 115 -- -- -- -- -- 29.17 49.82 -- -- -- -- 58.37 74.33 78.96 Price to Book
113 206 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Price to Tangible Book
26.58 27.78 27.78 12.08 10.81 11.52 10.93 10.52 14.65 19.77 21.74 18.39 16.08 43.12 19.88 28.31 30.17 Price-to-Free-Cash-Flow
Ratio
25.50 26.57 26.62 9.85 9.13 9.89 9.61 9.63 13.85 18.87 20.15 17.02 14.61 37.94 18.64 27.14 28.93 Price-to-Operating-Cash-
Flow Ratio
9.22 10.84 9.84 4.31 2.81 3.55 3.09 3.39 4.18 5.90 6.17 5.86 5.11 6.82 6.13 9.42 10.04 PS Ratio
1.70 1.22 1.14 0.60 0.72 3.90 -- -- 3.73 1.60 1.07 1.15 6.40 6.01 2.57 3.04 3.02 PEG Ratio
8.78 10.13 9.35 4.29 3.39 3.93 3.30 3.50 4.08 5.65 6.20 6.04 5.36 7.79 6.94 10.31 10.74 EV-to-Revenue
15.38 18.00 14.67 7.91 6.61 9.36 8.01 8.05 9.39 12.35 12.31 13.01 22.64 15.10 14.73 22.28 23.21 EV-to-EBITDA
16.05 18.68 15.13 8.20 7.21 10.23 8.70 8.75 10.20 13.26 13.05 14.00 26.59 16.28 16.22 24.47 25.49 EV-to-EBIT
6.23 5.35 6.61 12.20 13.87 9.78 11.49 11.43 9.80 7.54 7.66 7.14 3.76 6.14 6.17 4.09 3.92 Return on Capital %
20.58 22.31 22.48 25.89 25.89 12.78 5.51 3.13 9.72 17.49 23.10 22.88 16.20 7.93 11.83 13.04 12.83 Forward Rate of Return
-- -- -- -- 13.14 16.19 14.44 16.42 22.13 31.09 34.15 32.69 31.98 45.49 37.18 54.15 57.71 Shiller PE Ratio
0.35 0.29 0.41 0.90 1.99 1.49 1.58 1.59 1.27 1.15 1.17 1.36 1.57 1.03 1.26 0.84 0.81 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12,934 17,830 19,240 8,975 4,724 6,348 6,125 7,492 11,234 16,790 19,580 19,674 17,977 28,189 26,790 45,488 47,416 Market Cap
12,621 17,550 19,057 9,686 5,947 7,068 6,704 7,971 11,143 16,796 20,680 21,055 19,313 32,759 30,845 49,932 51,860 Enterprise Value
43.43 61.42 69.06 35.70 20.09 26.80 26.54 33.68 50.32 78.47 95.81 100 94.27 148 140 237 253 Month End Stock Price
-1.54 -1.95 -3.04 -8.18 -10.69 -8.97 -9.44 -10.21 -8.07 -9.12 -15.56 -17.52 -22.69 -40.52 -37.89 -40.31 -40.43 Net Cash (per share)
-0.12 -0.33 -1.18 -6.00 -8.33 -6.74 -6.53 -7.29 -4.70 -5.09 -10.62 -12.37 -17.30 -33.21 -29.69 -31.18 -31.28 Net Current Asset Value
(per share)
-0.60 -0.86 -1.76 -6.86 -9.35 -7.57 -7.82 -8.55 -5.98 -6.69 -12.65 -14.46 -19.20 -36.02 -32.85 -34.75 -34.86 Net-Net Working Capital (per
share)
12.28 19.77 26.45 29.20 32.36 27.97 24.78 26.10 34.48 46.32 51.48 58.68 52.41 55.56 64.04 70.91 70.91 Projected FCF (per share)
-- -- -- -- 56.18 58.62 66.42 72.07 57.31 60.95 71.19 78.50 84.54 103 126 149 149 Median PS (per share)
25.48 46.00 60.55 59.96 27.73 -- -- -- 16.85 49.10 89.70 87.18 14.73 -- 54.59 77.98 77.98 Peter Lynch Fair Value (per
share)
3.49 3.51 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Graham Number (per share)
11.94 14.85 19.22 19.68 20.16 22.38 23.96 24.88 30.41 36.48 40.66 46.97 54.90 41.49 51.19 58.57 58.57 Earnings Power Value
(EPV)
11.21 14.38 15.01 7.54 5.44 5.69 5.35 5.47 5.57 6.30 6.57 6.14 4.77 4.49 4.36 5.53 5.74 Altman Z-Score
4.00 5.00 5.00 6.00 5.00 5.00 7.00 5.00 7.00 6.00 6.00 5.00 5.00 4.00 7.00 5.00 5.00 Piotroski F-Score
-2.41 -2.48 -1.58 -3.05 -2.88 -3.06 -2.59 -2.81 -2.48 -2.59 -2.38 -2.83 -2.56 -1.70 -2.46 -2.41 -2.41 Beneish M-Score
0.00 0.02 -0.01 -0.05 0.13 0.06 0.13 0.12 0.10 0.09 0.21 0.18 0.02 0.80 0.53 0.53 0.53 Scaled Net Operating
Assets
-5.02 0.23 -7.66 -9.20 13.38 -7.39 3.28 1.24 -2.09 3.18 11.46 -3.23 -20.55 42.66 2.68 -2.82 -2.82 Sloan Ratio (%)
1.22 1.82 1.43 0.73 0.58 0.82 1.44 1.26 2.17 2.60 2.24 2.66 1.34 1.25 1.61 1.92 1.92 Current Ratio
1.22 1.82 1.43 0.73 0.58 0.82 1.44 1.26 2.17 2.60 2.24 2.66 1.34 1.25 1.61 1.92 1.92 Quick Ratio
43.60 62.30 72.45 74.84 45.77 31.23 30.54 41.75 51.54 78.47 102 113 110 153 187 239 287 Highest Stock Price
29.95 40.01 50.30 35.39 15.63 16.04 18.75 26.64 33.68 43.37 72.65 89.32 78.45 94.27 129 136 168 Lowest Stock Price
-0.16 2.53 4.03 9.76 6.47 -0.73 2.56 3.62 -0.37 4.16 4.49 4.06 2.74 -0.14 -0.17 -0.15 0.16 Shares Buyback Ratio (%)
15.32 20.04 23.17 18.91 -13.77 5.62 13.63 15.77 21.19 10.38 16.77 10.31 7.67 17.37 5.58 10.28 10.34 YoY Rev. per Sh. Growth
(%)
17.65 31.43 40.22 -- -27.52 -9.63 27.22 15.81 22.49 18.03 28.06 0.43 -70.63 279 30.87 10.09 10.09 YoY EPS Growth (%)
17.91 18.46 39.50 1.03 -20.64 -12.05 12.65 21.64 21.77 16.21 28.59 1.65 -45.12 156 -3.60 8.29 8.38 YoY EBITDA Growth (%)
18.20 27.38 23.29 23.24 14.91 4.07 -3.49 -4.44 4.45 13.64 19.50 18.87 11.42 4.77 8.10 10.51 11.60 EBITDA 5-Y Growth (%)
297 298 284 266 242 236 235 226 223 219 211 200 193 191 192 189 188 Shares Outstanding (Basic
Average)
298 290 279 251 235 237 231 222 223 214 204 196 191 191 191 192 187 Shares Outstanding (EOP)
0.17 0.60 1.31 2.15 1.45 1.21 1.23 1.21 1.49 1.58 1.64 1.18 1.08 1.08 1.53 1.37 1.36 Beta
03/08/05 03/01/06 03/01/07 02/29/08 03/02/09 03/01/10 02/28/11 02/27/12 02/26/13 02/27/14 02/26/15 02/25/16 02/24/17 02/27/18 02/25/19 02/24/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCO 6/7
03/01/06 03/01/06 03/01/07 02/29/08 03/01/10 02/28/11 02/26/13 02/27/14 02/26/15 02/25/16 02/24/17 02/27/18 02/25/19 02/24/20 02/24/20 02/24/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MCO 7/7
Stericycle Inc (NAS:SRCL) 03/03/2020 2:00PM EST GuruFocus
Price: $ 63.92 +0.32(+0.50%) Market Cap: $ 5.83 B Enterprise Value: $8.95 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.01 Operating margin (%) 2.72
P/B 2.35
Equity to Asset 0.37 Net-margin (%) -13.26
P/S 1.72
Interest Coverage 0.76 ROE (%) -17.01
F-Score:
PFCF 71.10
ROA (%) -6.60
2 POCF 20.99
Z-Score: ROC (Joel Greenblatt) (%) -34.10
1.48 EV-to-EBIT -22.90
Revenue Growth (3Y)(%) 4.90
M-Score: Shiller P/E 32.85
-2.70 EBITDA Growth (3Y)(%) -48.10
Current Ratio 0.94
WACC vs 10.01%
ROIC 1.42% Quick Ratio 0.94
WACC
ROIC Days Sales Outstanding 61.11
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Stericycle provides regulated medical waste management services to large-quantity generators (such as hospitals)
Revenue per Share: Declined
and small-quantity generators (such as medical and dental offices). The company handles disposal via its massive
2016 874 892 890 906 3,562 network of processing facilities that house autoclaves (steam treatment to kill pathogens) and, to a lesser degree,
Price: Close to 2-year high incinerators. Medical waste includes the likes of needles, syringes, gloves, cultures, bloodied materials, and
2017 892 918 883 888 3,581
anatomical waste. The company also offers a host of ancillary services, including OSHA compliance, pharmaceutical
PS Ratio: Close to 2-year high 2018 895 883 855 853 3,486 waste management, sharps management, patient-communications solutions, hazardous waste pickup, and secure
2019 830 846 833 document destruction (Shred-it).... (Read More)
ROIC vs. WACC: Return on
2020 Competitors: OSL:TOM, XMAD:FCC, NYSE:CLH, SZSE:300070 , HKSE:00257 , SHSE:603568 , SZSE:002340 ,
invested capital is less than ASX:CWY, NYSE:ADSW, NAS:CWST, NYSE:CVA, SZSE:000035, SZSE:000826, SZSE:300815, SHSE:601200,
weighted average cost of Quarterly Earnings per Share ASX:BIN, SZSE:002973, HKSE:01330, SHSE:600874, HKSE:01381
capital.
Mar Jun Sep Dec Full Year Insider Trades
Insider Sell: Insider Selling 2016 0.78 0.43 0.72 0.14 2.07
2017 0.62 -1.74 0.41 0.97 0.26
2018 0.25 0.31 0.20 -3.51 -2.75
DCF 2019 -0.42 -0.33 -0.65
GuruFocus does not 2020
calculate intrinsic value: DCF
Quarterly Dividends Per Share
(Earnings Based) for
companies with one star Mar Jun Sep Dec Full Year
predictability or not rated. But 2016 0.00 0.00 0.00 0.00 0.00
you can go to each stock's 2017 0.00 0.00 0.00 0.00 0.00
DCF page to calculate 2018 0.00 0.00 0.00 0.00 0.00
yourself. 2019 0.00 0.00 0.00
2020
Reverse DCF Growth Rate
GuruFocus does not Annual Rates(per share) 10-Y 5-Y 12-M
calculate reverse DCF growth Revenue Growth (%) 14.30 11.10 -9.40
rate for companies with one
EBITDA Growth (%) -5.00 -30.60 -127.30
star predictability or not rated.
But you can go to each Free Cash Flow Growth (%) -3.80 -26.40 29.00
stock's DCF page to calculate Book Value Growth (%) 15.80 8.70 -15.80
yourself.
EPS Growth (%) 0.00 0.00 -383.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SRCL 1/7
Per Share Data
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
4.92 5.59 6.73 8.72 10.37 12.27 13.58 16.55 19.18 21.99 24.52 29.64 34.64 41.62 41.83 40.02 36.99 Revenue per Share
1.57 1.82 2.09 2.57 2.85 3.47 4.06 4.86 5.58 6.27 7.11 7.63 7.14 7.93 2.75 1.00 -1.32 EBITDA per Share
1.38 1.59 1.86 2.27 2.50 3.08 3.60 4.24 4.83 5.39 6.10 6.42 5.67 4.98 -0.16 -1.94 -4.31 EBIT per Share
0.72 0.85 0.74 1.16 1.32 1.68 2.03 2.39 2.69 3.08 3.56 3.79 2.98 2.08 0.27 -2.91 -4.91 Earnings per Share (diluted)
0.72 0.85 0.74 1.16 1.32 1.68 2.03 2.39 2.69 3.08 3.56 3.79 2.98 2.08 0.27 -2.91 -4.91 eps without NRI
0.19 0.92 0.70 1.50 1.57 2.00 2.76 3.38 3.11 4.05 4.10 4.48 3.62 5.08 3.34 -4.25 -4.42 Owner Earnings per Share (TTM)
1.09 0.88 0.75 1.37 1.40 1.85 2.74 3.19 2.89 3.74 3.80 4.20 3.15 4.96 4.27 0.40 0.90 Free Cashflow per Share
4.87 5.54 5.91 7.06 8.17 7.86 9.98 12.30 14.15 17.93 20.47 22.33 32.17 32.95 33.88 28.53 27.15 Book Value per Share
-1.06 -0.81 -2.55 -3.44 -5.40 -7.46 -9.65 -10.82 -14.90 -13.85 -14.05 -16.89 -33.83 -31.09 -29.23 -25.06 -23.84 Tangible Book per Share
2.00 2.28 4.09 5.26 7.27 9.30 11.67 12.94 16.35 15.77 16.74 19.55 37.73 34.70 32.07 30.68 34.49 Total Debt per Share
23.35 22.98 29.44 37.75 59.40 52.08 55.17 80.92 77.92 93.28 116 131 121 77.04 67.99 36.69 63.92 Month End Stock Price
Ratios
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
17.91 17.31 13.21 18.36 17.68 21.48 23.18 21.95 20.90 19.56 18.92 17.91 11.11 6.44 0.82 -9.24 -17.01 Return on Equity %
9.57 10.14 7.14 8.86 8.06 8.83 8.91 8.62 8.07 7.97 8.38 7.90 4.67 2.94 0.61 -3.64 -6.60 Return on Assets %
103 100 95.81 97.25 90.55 101 104 115 111 100 99.82 90.28 60.80 44.06 -1.61 -21.32 -34.10 Return on Capital %
13.81 14.15 12.90 12.85 11.80 12.35 12.56 12.00 11.57 11.09 11.68 11.20 6.73 4.73 -0.40 3.22 1.42 Return on Invested Capital %
2.75 3.16 4.12 5.83 6.25 4.98 5.26 4.35 2.94 3.03 5.39 3.95 2.48 2.02 1.57 7.21 10.01 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 6.17 4.63 3.85 3.55 3.97 3.77 3.96 4.28 3.19 3.18 3.30 3.86 3.96 Effective Interest Rate on Debt %
43.38 44.21 43.98 44.31 44.80 44.76 46.90 46.37 45.39 44.81 45.02 42.82 42.02 41.74 40.84 39.47 36.40 Gross Margin %
28.04 28.36 27.62 25.99 24.59 25.49 27.55 25.75 25.32 24.51 25.00 21.77 16.33 12.18 1.60 5.67 2.72 Operating Margin %
14.51 15.14 11.02 13.33 12.69 13.72 14.92 14.44 14.01 14.01 14.53 12.77 8.94 5.79 1.18 -7.02 -13.26 Net Margin %
22.09 15.75 11.16 15.67 13.47 15.04 20.15 19.27 15.08 17.02 15.50 14.17 9.09 11.92 10.21 1.00 2.44 FCF Margin %
0.41 0.41 0.69 0.75 0.89 1.18 1.17 1.05 1.16 0.88 0.82 0.88 1.17 1.05 0.95 1.08 1.27 Debt to Equity
0.58 0.59 0.50 0.47 0.44 0.38 0.39 0.40 0.38 0.44 0.45 0.43 0.39 0.40 0.41 0.40 0.37 Total Equity to Total Asset
0.24 0.24 0.34 0.35 0.40 0.45 0.45 0.42 0.44 0.38 0.37 0.38 0.45 0.42 0.39 0.43 0.47 Total Debt to Total Asset
28.61 29.61 28.49 29.46 28.47 28.81 28.03 27.68 26.16 25.50 25.95 26.49 21.94 21.17 20.94 20.47 18.13 Gross Profit to Total Asset %
0.66 0.67 0.65 0.67 0.64 0.64 0.60 0.60 0.58 0.57 0.58 0.62 0.52 0.51 0.51 0.52 0.50 Asset Turnover
48.09 52.95 62.11 60.25 61.61 56.79 55.71 54.63 63.34 61.48 66.26 66.48 75.12 65.05 63.62 62.78 61.11 Days Sales Outstanding
22.39 22.81 29.80 20.78 28.39 20.49 27.79 25.90 26.57 27.96 27.62 28.63 31.46 30.30 33.64 39.06 37.03 Days Accounts Payable
5.50 4.75 5.09 2.18 -- -- -- -- -- -- -- -- -- -- -- -- -- Days Inventory
31.20 34.89 37.40 41.65 33.22 36.30 27.92 28.73 36.77 33.52 38.64 37.85 43.66 34.75 29.98 23.72 24.08 Cash Conversion Cycle
66.32 76.78 71.71 167 -- -- -- -- -- -- -- -- -- -- -- -- -- Inventory Turnover
0.57 0.56 0.56 0.56 0.55 0.55 0.53 0.54 0.55 0.55 0.55 0.57 0.58 0.58 0.59 0.61 0.64 COGS to Revenue
0.01 0.01 0.01 0.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SRCL 2/7
Income Statement
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
453 516 609 790 933 1,084 1,178 1,439 1,676 1,913 2,143 2,556 2,986 3,562 3,581 3,486 3,362 Revenue
257 288 341 440 515 599 625 772 915 1,056 1,178 1,461 1,731 2,075 2,118 2,110 2,138 Cost of Goods Sold
197 228 268 350 418 485 552 667 761 857 965 1,094 1,255 1,487 1,463 1,376 1,224 Gross Profit
43.38 44.21 43.98 44.31 44.80 44.76 46.90 46.37 45.39 44.81 45.02 42.82 42.02 41.74 40.84 39.47 36.40 Gross Margin %
69.56 80.62 98.03 144 191 209 217 280 312 357 391 490 767 1,053 1,405 1,178 1,132 Selling, General, & Admin. Expense
-- 1.15 1.65 0.30 -2.10 -- 10.96 16.86 24.91 31.65 38.41 48.14 -0.00 0.00 0.00 -0.00 0.00 Other Operating Expense
127 146 168 205 229 276 325 371 424 469 536 556 488 434 57.40 198 91.30 Operating Income
28.04 28.36 27.62 25.99 24.59 25.49 27.55 25.75 25.32 24.51 25.00 21.77 16.33 12.18 1.60 5.67 2.72 Operating Margin %
-- -- -- -- 1.59 0.93 0.20 0.27 0.80 0.40 0.29 0.12 0.20 -- 0.30 0.60 -- Interest Income
-- -- -- -- -33.97 -33.10 -34.33 -37.08 -49.43 -51.67 -55.24 -66.14 -77.50 -97.80 -94.00 -107 -120 Interest Expense
-- -- -- -- -32.38 -32.17 -34.13 -36.82 -48.63 -51.27 -54.95 -66.02 -77.30 -97.80 -93.70 -106 -120 Net Interest Income
-18.34 -17.86 -56.38 -32.63 -5.76 -4.98 -12.70 -2.01 -3.35 -0.37 -2.92 -2.75 0.60 -7.90 -71.60 -367 -482 Other Income (Expense)
-- -- -- -- -- -0.06 -0.70 -2.58 -2.59 -1.95 -1.71 -1.69 -1.00 -1.60 -0.60 0.90 1.10 Other Income (Minority Interest)
109 129 112 173 191 239 278 332 372 417 478 488 411 328 -108 -275 -511 Pre-Tax Income
-42.95 -50.39 -44.83 -67.30 -72.86 -90.30 -101 -121 -135 -147 -165 -159 -143 -120 151 29.80 64.90 Tax Provision
39.50 39.19 40.03 39.00 38.10 37.77 36.48 36.58 36.25 35.30 34.47 32.70 34.78 36.64 140 10.82 12.70 Tax Rate %
65.78 78.18 67.15 105 118 149 176 210 237 270 313 328 268 208 43.00 -246 -446 Net Income (Continuing Operations)
65.78 78.18 67.15 105 118 149 176 208 235 268 311 326 267 206 42.40 -245 -446 Net Income
14.51 15.14 11.02 13.33 12.69 13.72 14.92 14.44 14.01 14.01 14.53 12.77 8.94 5.79 1.18 -7.02 -13.26 Net Margin %
-- -- -- -- -- -- -- -- -- -- -- -- 10.10 39.40 36.30 25.50 8.40 Preferred dividends
0.80 0.89 0.76 1.19 1.35 1.73 2.07 2.44 2.75 3.14 3.62 3.84 3.02 2.10 0.27 -2.91 -4.91 EPS (Basic)
0.72 0.85 0.74 1.16 1.32 1.68 2.03 2.39 2.69 3.08 3.56 3.79 2.98 2.08 0.27 -2.91 -4.91 EPS (Diluted)
92.20 92.39 90.62 90.53 89.93 88.34 86.74 86.96 87.37 87.02 87.39 86.23 86.20 85.60 85.60 87.10 91.10 Shares Outstanding (Diluted
Average)
17.26 21.80 21.43 27.04 31.14 34.15 39.99 53.89 66.05 76.28 88.41 105 127 253 250 256 271 Depreciation, Depletion and
Amortization
144 168 190 232 256 306 352 423 488 545 621 658 616 678 236 87.10 -120 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SRCL 3/7
Balance Sheet
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
7.24 7.85 7.83 13.49 17.11 9.10 15.77 77.05 22.51 31.32 67.17 22.24 55.63 44.20 42.20 34.30 30.80 Cash And Cash Equivalents
0.64 0.10 0.72 2.55 1.26 1.41 1.13 18.47 0.42 0.50 0.41 0.38 0.07 -- -- -- -- Marketable Securities
7.88 7.95 8.55 16.04 18.36 10.50 16.90 95.52 22.93 31.83 67.58 22.62 55.70 44.20 42.20 34.30 30.80 Cash, Cash Equivalents, Marketable
Securities
59.71 74.89 104 130 157 169 180 215 291 322 389 465 614 635 624 600 563 Accounts Receivable
3.24 4.26 5.26 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
3.24 4.26 5.26 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Total Inventories
26.90 24.97 23.37 72.21 34.48 45.33 49.87 57.74 76.82 87.21 83.69 63.81 91.63 94.50 147 113 157 Other Current Assets
97.74 115 144 219 210 224 247 369 391 441 540 552 762 774 813 747 751 Total Current Assets
7.81 8.35 8.19 10.58 12.88 14.32 14.25 16.34 21.33 26.20 26.82 63.60 65.62 66.30 66.20 63.80 -- Land And Improvements
32.31 44.95 48.15 52.38 59.45 66.81 78.55 93.74 101 106 114 143 167 198 228 244 -- Buildings And Improvements
100 146 167 204 244 259 309 331 385 448 500 583 806 900 970 1,013 -- Machinery, Furniture, Equipment
12.14 12.53 11.22 11.12 16.65 13.61 21.45 18.08 18.65 30.93 41.58 35.23 53.43 55.30 80.50 102 -- Construction In Progress
152 211 235 278 333 354 423 459 526 612 682 825 1,092 1,219 1,344 1,422 1,931 Gross Property, Plant and Equipment
-55.90 -75.95 -98.82 -121 -140 -147 -177 -191 -232 -276 -323 -364 -426 -495 -603 -678 -754 Accumulated Depreciation
96.56 136 136 157 193 207 246 268 294 336 359 460 666 724 741 744 1,177 Property, Plant and Equipment
497 568 747 930 1,186 1,306 1,664 1,971 2,460 2,733 2,952 3,328 5,601 5,453 5,396 4,860 4,645 Intangible Assets
-- -- 685 814 1,033 1,136 1,394 1,596 1,914 2,065 2,232 2,419 3,758 3,591 3,604 3,222 3,178 Goodwill
16.58 15.53 20.59 22.50 18.82 21.32 26.56 31.43 32.26 37.01 37.12 32.52 36.99 29.60 38.40 105 103 Other Long Term Assets
707 834 1,048 1,328 1,608 1,759 2,183 2,639 3,177 3,547 3,888 4,373 7,065 6,980 6,988 6,456 6,676 Total Assets
15.74 18.00 27.87 25.03 40.05 33.61 47.61 54.78 66.64 80.89 89.15 115 149 172 195 226 217 Accounts Payable
-- -- -- -- -- -- -- -- 28.31 11.87 19.54 17.85 27.36 18.30 41.20 42.30 -- Total Tax Payable
59.18 62.41 76.32 100 116 127 140 205 174 158 160 208 284 336 731 487 537 Accounts Payable & Accrued
Expense
4.83 13.22 12.04 22.68 22.00 38.88 78.03 88.90 101 87.78 150 132 161 77.20 127 119 204 Current Portion of Long-Term Debt
4.99 7.61 10.39 11.66 12.10 13.66 14.95 14.46 12.86 18.10 18.83 21.62 16.99 17.90 -- -- -- Current Deferred Revenue
4.99 7.61 10.39 11.66 12.10 13.66 14.95 14.46 12.86 18.10 18.83 21.62 16.99 17.90 -- -- -- DeferredTaxAndRevenue
-- -- -- 7.22 -- -0.00 -0.00 -- 39.69 67.11 86.60 98.91 125 112 112 128 54.60 Other Current Liabilities
68.99 83.24 98.76 142 150 180 233 308 327 331 416 461 587 543 969 733 796 Total Current Liabilities
163 190 349 443 614 754 911 1,014 1,284 1,268 1,281 1,527 3,040 2,877 2,615 2,664 2,617 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 321 Capital Lease Obligation
163 190 349 443 614 754 911 1,014 1,284 1,268 1,281 1,527 3,040 2,877 2,615 2,664 2,938 Long-Term Debt & Capital Lease
Obligation
0.41 0.41 0.69 0.75 0.89 1.18 1.17 1.05 1.16 0.88 0.82 0.88 1.17 1.05 0.95 1.08 1.27 Debt to Equity
42.28 57.48 71.55 106 125 147 172 223 314 360 396 404 608 645 371 307 331 NonCurrent Deferred Liabilities
-- -- -- -- -- 0.16 11.48 31.93 29.09 15.53 17.08 22.17 17.95 10.60 12.00 9.70 3.60 Minority Interest
25.36 7.62 6.88 12.16 5.54 7.89 10.25 13.32 25.08 30.27 27.47 64.12 81.35 98.10 124 154 135 Other Long-Term Liabilities
300 339 526 703 894 1,089 1,326 1,559 1,950 1,989 2,120 2,456 4,317 4,164 4,080 3,858 4,199 Total Liabilities
0.42 0.45 0.44 0.89 0.87 0.85 0.85 0.85 0.85 0.86 0.86 0.85 0.85 0.80 0.90 0.90 0.90 Common Stock
-- -- -- -- -- -- -- -- -- -- -- -- 0.01 -- -- -- -- Preferred Stock
116 194 262 367 485 634 810 1,017 1,243 1,463 1,611 1,743 1,869 2,006 2,030 1,789 1,662 Retained Earnings
0.53 2.46 0.55 5.23 30.52 -32.08 -12.29 -16.87 -45.98 -39.06 -56.47 -138 -283 -368 -287 -365 -385 Accumulated other comprehensive
income (loss)
291 298 259 252 197 67.78 47.52 46.95 -- 117 195 289 1,143 1,167 1,153 1,163 1,197 Additional Paid-In Capital
408 495 522 625 714 670 846 1,048 1,198 1,542 1,750 1,895 2,730 2,806 2,897 2,587 2,474 Total Equity
0.58 0.59 0.50 0.47 0.44 0.38 0.39 0.40 0.38 0.44 0.45 0.43 0.39 0.40 0.41 0.40 0.37 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SRCL 4/7
Cashflow Statement
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
65.78 78.18 67.15 105 118 149 176 210 237 270 313 328 268 208 43.00 -246 -446 Net Income
65.78 78.18 67.15 105 118 149 176 210 237 270 313 328 268 208 43.00 -246 -446 Net Income From Continuing
Operations
17.26 21.80 21.43 27.04 31.14 34.15 39.99 53.89 66.05 76.28 88.41 105 127 253 250 256 271 Depreciation, Depletion and
Amortization
5.98 -4.99 -19.68 -14.74 -11.40 -13.00 12.57 -20.27 -31.82 -4.33 -54.77 -34.12 -55.90 -43.10 17.10 3.60 11.70 Change In Receivables
1.72 -0.49 -0.96 -0.74 -- -- -- -- -- -- -- -- -- -- -- -- -- Change In Inventory
-1.71 6.30 -1.91 4.54 -- -- -- -- -- -- -- -- -8.10 -1.20 -33.90 -15.60 -21.40 Change In Prepaid Assets
-0.52 -5.12 7.39 -6.00 8.55 12.48 23.88 56.41 27.16 24.94 4.55 15.57 54.30 33.70 386 -229 -46.90 Change In Payables And Accrued
Expense
17.59 -12.72 -20.48 11.44 0.24 -2.59 33.27 41.79 -25.13 28.41 -28.52 -9.61 -14.00 43.30 380 -257 -75.20 Change In Working Capital
9.58 13.85 13.51 12.94 17.27 26.52 22.25 26.31 31.84 22.68 30.93 16.55 -10.30 7.10 -290 -34.10 -24.90 Change In DeferredTax
-- -- -- -- 10.71 11.76 14.64 15.30 15.37 16.34 17.46 17.77 21.70 20.50 21.30 24.10 18.30 Stock Based Compensation
10.90 13.50 12.70 3.48 -5.96 -8.05 -9.30 -22.07 -19.36 -22.87 -16.05 -8.97 -8.50 1.00 -6.70 3.80 33.80 Cash Flow from Others
121 115 94.33 160 174 211 277 326 306 391 405 449 386 561 509 166 277 Cash Flow from Operations
-20.97 -33.31 -26.31 -36.41 -48.40 -47.52 -39.91 -48.32 -53.30 -65.24 -73.11 -86.50 -115 -136 -143 -131 -195 Purchase Of Property, Plant,
Equipment
0.69 0.09 10.63 0.83 -- -- 1.23 -- -- -- -- -- -- 1.32 -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -115 -84.95 -312 -190 -469 -224 -162 -374 -2,419 -63.90 -52.50 -44.70 -5.30 Purchase Of Business
-- -- -- -- -- -- -- 8.00 2.37 0.76 -- -- -- 2.10 1.20 25.20 17.80 Sale Of Business
-0.13 -- -0.62 -1.83 -- -0.46 -- -16.96 -- -- -- -- -- -- -- -- -- Purchase Of Investment
-- 0.54 -- -- 1.30 -- 0.39 -- -- -- -- -- -- -- -- -- -- Sale Of Investment
-37.22 -72.41 -140 -164 26.62 0.00 0.00 2.22 15.94 -0.09 0.07 -1.96 0.30 1.08 1.30 2.80 3.20 Cash From Other Investing Activities
-57.64 -105 -156 -201 -135 -133 -350 -245 -504 -289 -235 -463 -2,534 -196 -193 -148 -179 Cash Flow from Investing
10.53 13.19 14.23 16.46 16.57 17.84 14.92 49.91 31.29 64.46 42.35 51.85 60.10 37.50 10.20 20.10 16.20 Issuance of Stock
-13.20 -34.85 -60.66 -42.76 -104 -167 -75.69 -94.34 -124 -48.03 -164 -194 -131 -40.80 -- -- -- Repurchase of Stock
-- -- -- -- -- -- -- -- -- -- -- -- 747 -30.90 -34.20 -17.20 -2.40 Net Issuance of Preferred Stock
-60.97 14.72 107 70.87 47.03 62.53 135 11.93 228 -131 -30.79 102 1,527 -294 -258 -1.00 -102 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -- -- -10.10 -39.40 -36.30 -25.50 -8.40 Cash Flow for Dividends
-0.40 -- -1.48 7.97 7.45 9.08 7.27 18.93 2.68 23.31 16.13 10.43 -7.50 -8.80 -3.40 -2.10 -31.80 Other Financing
-64.04 -6.94 59.50 52.55 -32.64 -77.88 81.77 -13.57 138 -91.53 -136 -30.05 2,185 -377 -321 -25.70 -117 Cash Flow from Financing
-1.14 0.61 -0.03 5.67 3.62 -8.01 6.67 63.51 -56.77 12.15 32.51 -44.93 33.40 -11.40 -2.00 -7.90 -21.20 Net Change in Cash
-20.97 -33.31 -26.31 -36.41 -48.40 -47.52 -39.91 -48.32 -53.30 -65.24 -73.11 -86.50 -115 -136 -143 -131 -195 Capital Expenditure
100 81.30 68.01 124 126 163 237 277 253 326 332 362 271 425 366 34.90 81.90 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SRCL 5/7
Valuation Ratios
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
32.66 27.04 39.52 32.40 44.83 31.00 27.04 33.86 28.97 30.29 32.63 34.68 40.61 37.22 262 -- -- PE Ratio(TTM)
121 24.90 42.24 25.25 37.83 26.00 19.97 23.96 25.05 23.01 28.34 29.26 33.33 15.17 20.34 -- -- Price to Owner Earnings
(TTM)
4.79 4.15 4.98 5.34 7.27 6.63 5.53 6.58 5.51 5.20 5.67 5.87 3.75 2.34 2.01 1.29 2.35 Price to Book
21.52 26.08 39.25 27.64 42.52 28.23 20.17 25.39 26.91 24.93 30.56 31.25 38.32 15.54 15.95 90.82 71.10 Price-to-Free-Cash-Flow
Ratio
17.81 18.50 28.31 21.34 30.70 21.85 17.26 21.62 22.22 20.77 25.05 25.21 26.93 11.76 11.46 19.28 20.99 Price-to-Operating-Cash-
Flow Ratio
4.76 4.10 4.38 4.33 5.73 4.24 4.06 4.89 4.06 4.24 4.74 4.42 3.48 1.85 1.63 0.92 1.72 PS Ratio
0.79 1.35 2.79 1.89 2.53 1.82 1.55 1.90 1.66 1.71 2.12 2.58 4.96 5.16 -- -- -- PEG Ratio
4.67 4.36 4.84 4.80 6.23 4.82 4.80 5.51 4.77 4.89 5.28 5.00 4.49 2.66 2.38 1.75 2.65 EV-to-Revenue
14.66 13.38 15.55 16.32 22.59 17.05 16.07 18.77 16.38 17.17 18.21 19.42 21.76 13.98 36.18 69.88 -74.66 EV-to-EBITDA
16.65 15.38 17.53 18.47 25.70 19.19 18.13 21.51 18.95 19.96 21.23 23.09 27.43 22.26 -613 -36.06 -22.90 EV-to-EBIT
6.01 6.50 5.70 5.41 3.89 5.21 5.52 4.65 5.28 5.01 4.71 4.33 3.65 4.49 -0.16 -2.77 -4.37 Return on Capital %
16.90 17.93 16.92 19.77 19.57 19.39 20.29 20.25 20.48 20.70 18.17 16.13 11.18 12.33 -1.20 -11.37 -23.78 Forward Rate of Return
-- -- 80.52 74.85 90.73 64.91 55.30 65.64 51.43 52.19 55.72 55.69 46.73 28.55 25.72 16.50 32.85 Shiller PE Ratio
Valuation and Quality
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
1,955 2,056 2,600 3,341 5,192 4,442 4,674 6,898 6,600 8,021 9,933 11,127 10,233 6,560 5,813 3,328 5,834 Market Cap
2,115 2,252 2,952 3,791 5,810 5,224 5,657 7,937 7,990 9,361 11,313 12,785 13,397 9,481 8,525 6,086 8,949 Enterprise Value
23.35 22.98 29.44 37.75 59.40 52.08 55.17 80.92 77.92 93.28 116 131 121 77.04 67.99 36.69 63.92 Month End Stock Price
-3.48 -3.70 -5.86 -7.76 -10.02 -12.64 -15.58 -17.54 -23.09 -22.95 -24.21 -28.93 -50.44 -48.50 -47.36 -42.27 -45.79 Net Cash (per share)
-2.41 -2.50 -4.33 -5.47 -7.82 -10.13 -12.87 -14.33 -18.75 -18.18 -18.68 -22.69 -42.11 -39.94 -38.34 -34.41 -37.89 Net Current Asset Value
(per share)
-2.93 -3.05 -4.95 -6.66 -8.67 -11.16 -13.99 -15.64 -20.52 -20.14 -20.80 -24.82 -45.00 -42.91 -41.89 -37.31 -41.16 Net-Net Working Capital (per
share)
-1.94 1.52 14.76 19.27 22.46 24.84 30.71 37.82 44.81 53.31 61.26 68.93 77.77 83.45 80.94 61.30 49.83 Projected FCF (per share)
-- -- -- 31.87 41.85 53.39 59.19 73.77 87.38 101 113 137 159 189 186 174 161 Median PS (per share)
17.88 17.03 10.57 20.00 23.51 28.56 35.52 42.49 46.91 54.45 54.86 50.84 24.29 14.92 -- -- -- Peter Lynch Fair Value (per
share)
-7.35 4.99 10.20 12.62 14.42 16.84 19.88 11.36 11.60 16.68 21.45 23.61 11.15 16.82 6.66 3.52 -3.87 Earnings Power Value
(EPV)
5.34 5.14 4.30 4.33 4.92 4.11 3.65 4.23 3.57 4.01 4.43 4.30 2.47 2.10 1.74 1.36 1.48 Altman Z-Score
7.00 7.00 6.00 8.00 5.00 5.00 6.00 5.00 4.00 5.00 8.00 5.00 6.00 6.00 5.00 3.00 2.00 Piotroski F-Score
-2.80 -2.44 -2.16 -2.47 -2.47 -2.59 -2.61 -2.53 -2.27 -2.50 -2.41 -2.42 -2.35 -2.72 -2.82 -2.53 -2.70 Beneish M-Score
0.85 0.98 1.05 1.03 1.00 0.90 1.04 0.96 0.98 0.91 0.88 0.91 1.35 0.81 0.80 0.77 0.81 Scaled Net Operating
Assets
0.33 8.23 12.30 11.03 4.95 4.04 11.39 4.84 13.62 4.68 3.63 7.79 34.18 -2.28 -3.91 -4.07 -8.14 Sloan Ratio (%)
1.42 1.39 1.46 1.54 1.40 1.25 1.06 1.20 1.19 1.33 1.30 1.20 1.30 1.42 0.84 1.02 0.94 Current Ratio
1.37 1.34 1.41 1.54 1.40 1.25 1.06 1.20 1.19 1.33 1.30 1.20 1.30 1.42 0.84 1.02 0.94 Quick Ratio
25.67 26.53 31.76 37.81 61.87 64.77 58.10 81.78 94.29 95.76 121 133 151 128 87.00 76.02 67.94 Highest Stock Price
16.19 20.90 21.96 28.64 36.59 48.83 45.82 51.16 74.09 76.72 93.28 109 114 71.61 62.50 35.19 40.06 Lowest Stock Price
-3.54 -6.84 1.30 -0.23 1.24 2.43 0.67 -0.62 0.64 -1.53 0.57 0.72 0.04 -0.35 -0.41 -6.08 -0.55 Shares Buyback Ratio (%)
9.22 13.65 20.37 29.70 18.92 18.28 10.67 21.91 15.90 14.61 11.52 20.87 16.88 20.14 0.52 -4.32 -9.42 YoY Rev. per Sh. Growth
(%)
41.58 18.18 -12.43 56.76 13.79 27.27 20.83 17.73 12.55 14.50 15.58 6.46 -21.37 -30.20 -87.02 -1,178 -384 YoY EPS Growth (%)
20.20 16.36 14.99 22.49 11.11 21.68 17.01 19.81 14.83 12.22 13.49 7.37 -6.42 10.93 -65.27 -63.66 -127 YoY EBITDA Growth (%)
41.34 20.03 14.19 17.17 17.74 17.00 17.41 17.78 17.44 17.68 15.41 13.45 8.18 7.21 -7.23 -20.48 -30.60 EBITDA 5-Y Growth (%)
82.88 88.50 88.57 88.47 87.58 85.95 84.77 85.06 85.47 85.40 85.90 84.93 84.90 84.90 85.30 87.10 91.10 Shares Outstanding (Basic
Average)
83.74 89.46 88.30 88.50 87.41 85.29 84.72 85.24 84.70 85.99 85.50 84.88 84.85 85.15 85.50 90.70 91.27 Shares Outstanding (EOP)
-0.20 -0.13 0.02 0.29 0.47 0.50 0.31 0.22 0.18 0.22 0.45 0.32 0.02 -0.10 -0.09 1.56 2.20 Beta
03/15/04 03/11/05 03/06/06 03/01/07 02/29/08 02/27/09 02/26/10 02/28/11 02/28/12 02/28/13 02/28/14 03/02/15 03/15/16 03/15/17 02/26/18 02/28/19 Filing Date
03/11/05 03/11/05 03/01/07 02/29/08 02/27/09 02/26/10 02/28/11 02/28/13 02/28/14 06/11/15 08/09/16 03/15/17 02/26/18 02/28/19 02/28/19 02/28/19 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SRCL 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SRCL 7/7
Alaska Air Group Inc (NYSE:ALK) 03/03/2020 2:00PM EST GuruFocus
Price: $ 46.89 -3.14(-6.28%) Market Cap: $ 5.76 B Enterprise Value: $7.45 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 7.57
Cash to Debt 0.47 Operating margin (%) 12.61
Forward P/E N/A
Equity to Asset 0.33 Net-margin (%) 8.76
PE(NRI) 7.57
Interest Coverage 17.57 ROE (%) 19.17
F-Score:
P/B 1.33
ROA (%) 6.15
7 P/S 0.67
Z-Score: ROC (Joel Greenblatt) (%) 13.27
1.82 PFCF 5.69
Revenue Growth (3Y)(%) 14.00
M-Score: POCF 3.37
-3.01 EBITDA Growth (3Y)(%) -4.20
EV-to-EBIT 6.89
WACC vs 5.81% EPS Growth (3Y)(%) -1.20
ROIC 14.71% Shiller P/E 9.95
WACC
ROIC Current Ratio 0.64
Quick Ratio 0.61
Days Inventory 3.31
Days Sales Outstanding 13.43
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year Alaska Air Group operates two subsidiaries and offers 46 million passengers yearly service to more than 115
destinations along the West Coast, Mexico, and Canada. Alaska Airlines, its major airline, operates a 233 all-jet fleet,
slow down 2016 1,347 1,494 1,566 1,518 5,925 while Horizon Air, its regional airline, flies 65 turboprop and jet aircraft. The firm earns ancillary revenue by providing
2017 1,740 2,102 2,110 1,942 7,894 freight and mail services. Alaska employees 23,000 workers and generates about $8 billion in annual revenue....
(Read More)
2018 1,832 2,156 2,212 2,064 8,264
Good Signs Competitors: NSE:INDIGO, LSE:EZJ, XTER:LHA, TSX:AC, SGX:C6L , TSE:9201 , SHSE:600029 , ASX:QAN,
2019 1,876 2,288 2,389 2,228 8,781 TSE:9202, SHSE:600115, LSE:WIZZ, NAS:JBLU, HKSE:00293, XSGO:LTM, SHSE:601021, NYSE:CPA,
Piotroski F-Score: High 2020 BSP:AZUL4, NAS:AAL, XPAR:AF, SHSE:600221
Dividend Yield %: Close to Quarterly Earnings per Share Insider Trades
10-year high Mar Jun Sep Dec Full Year
PE Ratio: Close to 5-year low 2016 1.46 2.10 2.07 0.92 6.55
2017 0.75 2.36 2.09 2.55 7.75
PB Ratio: Close to 10-year 2018 0.03 1.56 1.75 0.19 3.53
low 2019 0.03 2.11 2.60 1.46 6.20
PS Ratio: Close to 5-year low 2020
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
EPS without NRI: $6.20 2016 0.28 0.28 0.28 0.28 1.10
Growth Rate in the next 10 2017 0.30 0.30 0.30 0.30 1.20
years: 20% 2018 0.32 0.32 0.32 0.32 1.28
Terminal Growth Rate for 10 2019 0.35 0.35 0.35 0.35 1.40
years: 4% 2020
Fair Value: $176.50 Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Reverse DCF Revenue Growth (%) 12.10 13.80 6.00
Expected eps Growth Rate: - EBITDA Growth (%) 12.80 -0.10 41.90
0.59%
Free Cash Flow Growth (%) 0.00 7.30 335.40
Book Value Growth (%) 19.80 16.80 15.60
EPS Growth (%) 20.20 0.00 75.90
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALK 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
25.35 22.19 21.97 21.68 25.20 23.51 26.04 29.41 32.44 36.34 39.24 43.27 47.63 63.74 66.66 70.65 70.63 Revenue per Share
-18.43 2.56 1.14 2.71 0.49 3.64 5.02 4.88 5.74 7.90 9.48 12.68 13.74 13.06 8.52 12.09 12.08 EBITDA per Share
-20.34 1.49 0.10 1.61 -0.92 2.12 3.45 3.19 3.90 6.00 7.33 10.20 10.82 10.05 5.31 8.68 8.68 EBIT per Share
-0.14 -0.05 -0.35 0.77 -0.94 0.84 1.71 1.67 2.20 3.58 4.42 6.56 6.41 7.75 3.52 6.19 6.20 Earnings per Share (diluted)
-0.14 -0.05 -0.35 0.77 -0.94 0.84 1.71 1.67 2.20 3.58 4.42 6.56 6.41 7.75 3.52 6.19 6.20 eps without NRI
0.86 -1.34 -1.14 0.37 -2.16 -1.16 0.80 1.89 2.77 5.26 4.58 8.40 6.97 7.82 3.87 8.05 8.05 Owner Earnings per Share (TTM)
1.26 -1.15 -1.53 -2.18 -1.71 -1.01 2.30 1.36 1.25 2.93 2.46 5.82 5.69 4.55 1.90 8.26 8.26 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- 0.20 0.50 0.80 1.10 1.20 1.28 1.40 1.40 Dividends per Share
6.13 6.19 5.49 6.74 4.56 6.13 7.69 8.27 10.10 14.76 16.18 19.26 23.77 28.12 30.45 35.21 35.21 Book Value per Share
5.77 6.19 5.49 6.74 4.56 6.13 7.69 8.27 10.10 14.76 16.18 19.26 6.93 11.25 13.65 18.42 18.42 Tangible Book per Share
9.61 8.09 9.07 10.94 15.25 13.03 10.68 9.21 7.33 6.34 6.11 5.46 24.03 20.88 17.07 26.07 26.07 Total Debt per Share
8.37 8.93 9.88 6.25 7.31 8.64 14.17 18.77 21.55 36.69 59.76 80.51 88.73 73.51 60.85 67.75 46.89 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-2.29 -0.79 -6.14 13.01 -16.11 15.85 25.39 21.50 24.35 29.45 29.11 37.37 29.84 30.04 12.12 19.03 19.17 Return on Equity %
-0.46 -0.17 -1.34 2.90 -2.91 2.47 5.01 4.81 5.92 8.96 10.17 13.47 9.67 9.27 4.04 6.43 6.15 Return on Assets %
-113 10.16 0.68 9.80 -4.38 9.70 16.09 14.38 16.04 22.69 24.49 29.01 25.72 20.84 10.07 14.02 13.27 Return on Capital %
-179 11.64 37.41 33.13 21.36 36.72 20.17 21.90 25.74 37.65 35.23 49.42 28.34 25.14 12.83 15.76 14.71 Return on Invested Capital %
6.37 8.68 10.31 5.42 2.51 4.00 5.08 5.91 5.71 8.50 8.35 6.13 5.80 4.37 8.98 6.69 5.81 Weighted Average Cost Of Capital (WACC) %
-- 5.93 8.07 3.85 4.08 5.13 6.02 5.28 3.93 3.68 3.35 1.08 1.65 3.11 3.13 2.37 1.99 Effective Interest Rate on Debt %
32.94 28.31 68.13 68.56 58.81 79.00 21.89 20.80 20.36 25.12 26.81 33.89 34.40 28.55 20.24 22.54 22.54 Gross Margin %
-80.23 5.60 21.17 24.40 16.77 30.04 12.63 11.30 11.42 16.25 17.36 23.76 24.02 16.77 9.38 12.61 12.61 Operating Margin %
-0.56 -0.20 -1.58 3.55 -3.71 3.58 6.55 5.67 6.79 9.85 11.27 15.15 13.45 12.16 5.29 8.76 8.76 Net Margin %
4.95 -5.19 -6.97 -10.05 -6.78 -4.29 8.85 4.63 3.84 8.05 6.26 13.45 11.95 7.14 2.84 11.68 11.68 FCF Margin %
1.57 1.31 1.65 1.62 3.35 2.13 1.39 1.11 0.73 0.43 0.38 0.28 1.01 0.74 0.56 0.74 0.74 Debt to Equity
0.20 0.22 0.22 0.23 0.14 0.18 0.22 0.23 0.26 0.35 0.35 0.37 0.29 0.32 0.34 0.33 0.33 Total Equity to Total Asset
0.31 0.29 0.36 0.37 0.46 0.37 0.31 0.25 0.19 0.15 0.13 0.11 0.30 0.24 0.19 0.25 0.25 Total Debt to Total Asset
27.21 23.64 57.74 56.11 46.19 54.64 16.76 17.64 17.77 22.83 24.18 30.13 24.72 21.77 15.45 16.56 15.84 Gross Profit to Total Asset %
0.83 0.84 0.85 0.82 0.79 0.69 0.77 0.85 0.87 0.91 0.90 0.89 0.72 0.76 0.76 0.74 0.70 Asset Turnover
-- -- -- -- -- -- -- -- -- 0.06 0.11 0.12 0.17 0.16 0.36 0.23 0.23 Dividend Payout Ratio
-- -- -- -- -- -- 11.44 11.50 10.19 10.76 17.61 13.82 18.60 15.77 16.17 13.43 13.43 Days Sales Outstanding
28.74 14.87 30.91 33.61 14.42 32.37 7.34 11.10 6.40 6.05 5.76 6.21 8.64 7.77 7.31 7.83 7.83 Days Accounts Payable
8.77 3.59 7.68 15.11 11.92 24.98 5.54 4.75 5.02 5.58 5.48 5.37 4.60 3.37 3.24 3.54 3.31 Days Inventory
-19.97 -11.28 -23.23 -18.50 -2.50 -7.39 9.64 5.15 8.81 10.29 17.33 12.98 14.56 11.37 12.10 9.14 8.91 Cash Conversion Cycle
41.61 102 47.55 24.15 30.63 14.61 65.85 76.77 72.73 65.44 66.59 67.91 79.33 108 113 103 110 Inventory Turnover
0.67 0.72 0.32 0.31 0.41 0.21 0.78 0.79 0.80 0.75 0.73 0.66 0.66 0.71 0.80 0.77 0.77 COGS to Revenue
0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALK 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,724 2,975 3,334 3,506 3,663 3,400 3,832 4,318 4,657 5,156 5,368 5,598 5,925 7,894 8,264 8,781 8,781 Revenue
1,827 2,133 1,063 1,102 1,509 714 2,993 3,420 3,709 3,861 3,929 3,701 3,887 5,640 6,591 6,802 6,802 Cost of Goods Sold
897 842 2,272 2,404 2,154 2,686 839 898 948 1,295 1,439 1,897 2,038 2,254 1,673 1,979 1,979 Gross Profit
32.94 28.31 68.13 68.56 58.81 79.00 21.89 20.80 20.36 25.12 26.81 33.89 34.40 28.55 20.24 22.54 22.54 Gross Margin %
481 163 1,143 1,140 1,112 1,232 154 175 168 179 199 211 248 368 326 313 313 Selling, General, & Admin. Expense
2,602 512 423 408 428 433 201 235 248 278 308 356 367 562 572 559 559 Other Operating Expense
-2,185 167 706 855 614 1,021 484 488 532 838 932 1,330 1,423 1,324 775 1,107 1,107 Operating Income
-80.23 5.60 21.17 24.40 16.77 30.04 12.63 11.30 11.42 16.25 17.36 23.76 24.02 16.77 9.38 12.61 12.61 Operating Margin %
-- 30.90 54.30 53.90 42.40 40.20 29.00 22.00 19.00 18.00 21.00 21.00 27.00 34.00 38.00 42.00 42.00 Interest Income
-- -63.00 -103 -60.20 -79.10 -104 -102 -75.00 -46.00 -35.00 -28.00 -8.00 -30.00 -86.00 -73.00 -63.00 -63.00 Interest Expense
-- -32.10 -48.40 -6.30 -36.70 -64.10 -73.00 -53.00 -27.00 -17.00 -7.00 13.00 -3.00 -52.00 -35.00 -21.00 -21.00 Net Interest Income
2,165 2.80 -745 -649 -791 -754 -5.00 -41.00 9.00 -5.00 50.00 -31.00 -104 -113 -155 -70.00 -70.00 Other Income (Expense)
-20.60 137 -87.80 201 -213 203 406 394 514 816 975 1,312 1,316 1,159 585 1,016 1,016 Pre-Tax Income
5.30 -52.70 35.20 -76.20 77.30 -81.30 -155 -149 -198 -308 -370 -464 -519 -199 -148 -247 -247 Tax Provision
25.73 38.41 40.09 38.00 36.26 40.07 38.18 37.82 38.52 37.75 37.95 35.37 39.44 17.17 25.30 24.31 24.31 Tax Rate %
-15.30 84.50 -52.60 124 -136 122 251 245 316 508 605 848 797 960 437 769 769 Net Income (Continuing Operations)
-15.30 -5.90 -52.60 124 -136 122 251 245 316 508 605 848 797 960 437 769 769 Net Income
-0.56 -0.20 -1.58 3.55 -3.71 3.58 6.55 5.67 6.79 9.85 11.27 15.15 13.45 12.16 5.29 8.76 8.76 Net Margin %
-0.14 -0.05 -0.35 0.78 -0.94 0.85 1.75 1.71 2.23 3.63 4.47 6.61 6.45 7.79 3.55 6.24 6.23 EPS (Basic)
-0.14 -0.05 -0.35 0.77 -0.94 0.84 1.71 1.67 2.20 3.58 4.42 6.56 6.41 7.75 3.52 6.19 6.20 EPS (Diluted)
107 134 152 162 145 145 147 147 144 142 137 129 124 124 124 124 125 Shares Outstanding (Diluted
Average)
205 143 158 177 205 219 230 247 264 270 294 320 363 372 398 423 423 Depreciation, Depletion and
Amortization
-1,980 344 172 438 70.50 526 738 716 824 1,121 1,297 1,640 1,709 1,617 1,056 1,502 1,502 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALK 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
54.30 73.60 231 204 283 164 89.50 102 122 80.00 107 73.00 328 194 105 221 221 Cash And Cash Equivalents
820 909 783 619 794 1,028 1,119 1,039 1,130 1,250 1,110 1,255 1,252 1,427 1,131 1,300 1,300 Marketable Securities
874 983 1,014 823 1,077 1,192 1,208 1,141 1,252 1,330 1,217 1,328 1,580 1,621 1,236 1,521 1,521 Cash, Cash Equivalents, Marketable
Securities
-- -- -- -- -- -- 120 136 130 152 259 212 302 341 366 323 323 Accounts Receivable
42.00 -- 44.70 46.60 51.90 45.80 45.10 44.00 58.00 60.00 58.00 51.00 47.00 57.00 60.00 72.00 72.00 Inventories, Other
42.00 -- 44.70 46.60 51.90 45.80 45.10 44.00 58.00 60.00 58.00 51.00 47.00 57.00 60.00 72.00 72.00 Total Inventories
227 558 380 383 263 285 289 275 297 220 105 72.00 121 133 125 121 121 Other Current Assets
1,242 1,540 1,572 1,390 1,509 1,634 1,662 1,596 1,737 1,762 1,639 1,663 2,050 2,152 1,787 2,037 2,037 Total Current Assets
2,833 3,069 3,265 3,986 4,349 4,507 4,658 5,038 5,472 5,961 6,616 7,416 8,595 9,275 10,023 12,099 12,099 Gross Property, Plant and Equipment
-925 -1,037 -906 -1,023 -1,182 -1,339 -1,510 -1,665 -1,863 -2,068 -2,317 -2,614 -2,929 -2,991 -3,242 -3,486 -3,486 Accumulated Depreciation
1,908 2,032 2,359 2,962 3,168 3,168 3,148 3,373 3,609 3,893 4,299 4,802 5,666 6,284 6,781 8,613 8,613 Property, Plant and Equipment
38.60 -- -- -- -- -- -- -- -- -- -- -- 2,077 2,076 2,070 2,065 2,065 Intangible Assets
-- -- -- -- -- -- -- -- -- -- -- -- 1,934 1,943 1,943 1,943 1,943 Goodwill
146 220 146 138 159 194 206 198 159 183 126 65.00 169 234 274 278 278 Other Long Term Assets
3,335 3,792 4,077 4,491 4,836 4,996 5,017 5,167 5,505 5,838 6,064 6,530 9,962 10,746 10,912 12,993 12,993 Total Assets
144 86.90 90.00 102 59.60 63.30 60.20 104 65.00 64.00 62.00 63.00 92.00 120 132 146 146 Accounts Payable
654 648 695 721 719 747 605 813 806 899 923 1,022 1,367 938 963 1,047 1,047 Accounts Payable & Accrued
Expense
53.40 114 430 540 618 156 221 208 161 117 117 114 319 307 486 504 504 Current Portion of Long-Term Debt
-- -- -- -- -- -- 422 489 534 564 631 669 849 1,441 1,493 1,650 1,650 Current Deferred Revenue
-- -- -- -- -- -- 422 489 534 564 631 669 849 1,441 1,493 1,650 1,650 DeferredTaxAndRevenue
250 404 111 112 24.10 366 177 -- -- -- -- -- -- -- -- -- -- Other Current Liabilities
957 1,166 1,237 1,374 1,361 1,270 1,425 1,510 1,501 1,580 1,671 1,805 2,535 2,686 2,942 3,201 3,201 Total Current Liabilities
990 969 1,032 1,125 1,596 1,699 1,313 1,099 871 754 686 569 2,645 2,262 1,617 1,264 1,264 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 1,439 1,439 Capital Lease Obligation
990 969 1,032 1,125 1,596 1,699 1,313 1,099 871 754 686 569 2,645 2,262 1,617 2,703 2,703 Long-Term Debt & Capital Lease
Obligation
1.57 1.31 1.65 1.62 3.35 2.13 1.39 1.11 0.73 0.43 0.38 0.28 1.01 0.74 0.56 0.74 0.74 Debt to Equity
-- -- -- 276 585 421 367 463 489 123 246 270 331 453 503 571 571 PensionAndRetirementBenefit
478 448 448 545 458 586 683 773 889 1,044 1,007 1,113 1,103 1,460 1,681 1,955 1,955 NonCurrent Deferred Liabilities
245 382 476 146 174 148 123 148 334 308 327 362 417 425 418 232 232 Other Long-Term Liabilities
2,670 2,964 3,192 3,466 4,174 4,124 3,911 3,993 4,084 3,809 3,937 4,119 7,031 7,286 7,161 8,662 8,662 Total Liabilities
29.80 35.90 42.50 42.80 43.20 35.80 37.00 76.00 70.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Common Stock
284 278 207 329 193 315 566 811 1,127 1,607 2,144 2,890 3,568 4,193 4,534 5,133 5,133 Retained Earnings
-81.60 -132 -191 -133 -328 -240 -267 -390 -436 -183 -310 -303 -305 -380 -448 -465 -465 Accumulated other comprehensive
income (loss)
497 710 878 899 915 767 816 802 660 606 296 73.00 110 164 232 305 305 Additional Paid-In Capital
-60.50 -56.60 -50.40 -113 -161 -5.70 -46.00 -125 -- -2.00 -4.00 -250 -443 -518 -568 -643 -643 Treasury Stock
665 828 886 1,025 662 872 1,105 1,174 1,421 2,029 2,127 2,411 2,931 3,460 3,751 4,331 4,331 Total Equity
0.20 0.22 0.22 0.23 0.14 0.18 0.22 0.23 0.26 0.35 0.35 0.37 0.29 0.32 0.34 0.33 0.33 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALK 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-15.30 -5.90 -52.60 124 -136 122 251 245 316 508 605 848 797 960 437 769 769 Net Income
-15.30 -5.90 -52.60 124 -136 122 251 245 316 508 605 848 797 960 437 769 769 Net Income From Continuing
Operations
205 143 158 177 205 219 230 247 264 270 294 320 363 372 398 423 423 Depreciation, Depletion and
Amortization
21.30 -24.80 -10.00 -3.80 21.30 4.90 -8.30 -- 9.00 -19.00 -110 47.00 -46.00 -39.00 -25.00 43.00 -- Change In Receivables
-- -13.40 -11.30 -4.60 -8.60 -10.30 -9.70 -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
-2.50 51.60 -- -- -- -- -- 145 -- -- -- -- -- -- -- -- -- Change In Payables And Accrued
Expense
158 -49.70 8.20 154 -1.90 -79.90 50.00 187 163 363 125 391 200 203 313 501 501 Change In Working Capital
-2.50 51.60 -34.00 -- -- 84.10 145 -- -- -- -- -- -- -- -- -- -- Change In DeferredTax
-- 2.10 8.20 12.30 13.40 11.90 9.00 17.00 10.00 32.00 6.00 25.00 26.00 55.00 47.00 29.00 29.00 Stock Based Compensation
-11.60 129 363 14.10 84.10 -64.40 -132 -- -- -192 -- -- -- -- -- -- -- Cash Flow from Others
334 270 450 482 164 293 553 696 753 981 1,030 1,584 1,386 1,590 1,195 1,722 1,722 Cash Flow from Operations
-199 -425 -682 -834 -413 -438 -214 -496 -574 -566 -694 -831 -678 -1,026 -960 -696 -696 Purchase Of Property, Plant,
Equipment
12.40 6.50 3.60 63.40 -- 6.70 7.20 -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -- -- -- -- -1,951 -- -- -- -- Purchase Of Business
-961 -1,185 -807 -1,149 -766 -943 -1,022 -884 -1,130 -1,218 -949 -1,327 -960 -1,569 -834 -1,810 -1,810 Purchase Of Investment
757 1,121 936 1,321 580 725 931 956 1,048 1,089 1,092 1,175 962 1,388 1,116 1,674 1,674 Sale Of Investment
25.50 -- 16.10 -2.60 17.90 -8.10 2.80 21.00 11.00 -3.00 10.00 53.00 5.00 78.00 47.00 41.00 41.00 Cash From Other Investing Activities
-366 -481 -533 -602 -581 -657 -295 -403 -645 -698 -541 -930 -2,622 -1,129 -631 -791 -791 Cash Flow from Investing
8.40 215 30.40 6.50 4.00 13.00 37.00 19.00 31.00 24.00 27.00 -- -- -- -- -- -- Issuance of Stock
-- -- -- -62.80 -48.90 -23.80 -45.00 -80.00 -60.00 -159 -348 -505 -193 -75.00 -50.00 -75.00 -75.00 Repurchase of Stock
-115 93.80 206 150 541 14.00 -321 -227 -275 -161 -68.00 -116 1,795 -397 -468 -608 -608 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -28.00 -68.00 -102 -136 -148 -158 -173 -173 Cash Flow for Dividends
-- -52.40 4.10 -- -- 243 -3.00 7.00 216 23.00 22.00 35.00 25.00 28.00 29.00 43.00 43.00 Other Financing
-107 257 240 93.40 496 246 -332 -281 -88.00 -325 -462 -688 1,491 -592 -647 -813 -813 Cash Flow from Financing
-139 45.60 157 -26.40 78.80 -119 -74.00 12.00 20.00 -42.00 27.00 -34.00 255 -131 -83.00 118 118 Net Change in Cash
-199 -425 -682 -834 -413 -438 -214 -496 -574 -566 -694 -831 -678 -1,026 -960 -696 -696 Capital Expenditure
135 -154 -232 -352 -249 -146 339 200 179 415 336 753 708 564 235 1,026 1,026 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALK 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- 8.09 -- 10.19 8.32 11.27 9.86 10.22 13.49 12.27 13.55 9.49 17.24 10.93 7.57 PE Ratio(TTM)
9.72 -- -- 17.03 -- -- 17.69 9.93 7.78 6.98 13.06 9.59 12.73 9.40 15.74 8.42 5.83 Price to Owner Earnings
(TTM)
1.37 1.44 1.80 0.93 1.60 1.41 1.84 2.27 2.13 2.49 3.69 4.18 3.73 2.61 2.00 1.92 1.33 Price to Book
1.45 1.44 1.80 0.93 1.60 1.41 1.84 2.27 2.13 2.49 3.69 4.18 12.81 6.54 4.46 3.68 2.55 Price to Tangible Book
7.11 -- -- -- -- -- 6.14 13.75 17.49 12.58 24.61 13.83 15.64 16.18 31.98 8.20 5.69 Price-to-Free-Cash-Flow
Ratio
2.84 4.44 3.39 2.09 6.47 4.26 3.77 3.96 4.12 5.31 7.97 6.59 7.97 5.73 6.31 4.89 3.37 Price-to-Operating-Cash-
Flow Ratio
0.35 0.40 0.46 0.29 0.29 0.37 0.54 0.64 0.67 1.01 1.52 1.86 1.86 1.15 0.91 0.96 0.67 PS Ratio
-- -- -- -- -- -- -- 0.35 0.25 0.20 0.73 0.55 0.49 0.47 3.70 -- -- PEG Ratio
0.40 0.44 0.61 0.51 0.60 0.56 0.62 0.66 0.60 0.89 1.39 1.69 2.08 1.27 1.01 1.14 0.85 EV-to-Revenue
-0.54 0.80 11.84 4.02 31.17 3.62 3.20 3.93 3.42 4.09 5.74 5.75 7.21 6.18 7.92 6.67 4.95 EV-to-EBITDA
-0.49 0.88 137 6.68 -16.39 6.24 4.65 5.99 5.04 5.39 7.42 7.15 9.16 8.03 12.71 9.29 6.89 EV-to-EBIT
-204 114 0.73 14.97 -6.10 16.03 21.51 16.69 19.84 18.55 13.48 13.99 10.92 12.45 7.87 10.76 14.49 Return on Capital %
0.43 16.29 -10.58 -16.47 -23.49 -22.96 -24.72 18.11 21.57 23.62 21.50 23.23 23.71 25.44 11.01 3.58 6.19 Forward Rate of Return
32.16 39.17 68.99 54.16 -- -- -- 105 39.56 40.85 43.68 39.03 31.58 20.55 14.80 14.38 9.95 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- 0.55 0.84 0.99 1.24 1.63 2.10 2.07 3.03 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
908 1,195 1,592 951 1,061 1,230 2,036 2,663 3,033 5,045 7,857 10,078 10,943 9,046 7,496 8,333 5,763 Market Cap
1,077 1,295 2,041 1,793 2,198 1,893 2,362 2,829 2,813 4,586 7,443 9,433 12,327 9,994 8,363 10,019 7,449 Enterprise Value
8.37 8.93 9.88 6.25 7.31 8.64 14.17 18.77 21.55 36.69 59.76 80.51 88.73 73.51 60.85 67.75 46.89 Month End Stock Price
-16.56 -14.81 -13.51 -17.36 -21.33 -20.60 -18.81 -20.10 -20.12 -18.03 -20.69 -22.30 -44.20 -46.03 -48.09 -58.06 -58.06 Net Cash (per share)
-13.16 -10.64 -10.05 -13.63 -18.36 -17.49 -15.65 -16.89 -16.67 -14.89 -17.48 -19.62 -40.39 -41.72 -43.62 -53.86 -53.86 Net Current Asset Value
(per share)
-16.36 -14.81 -13.37 -17.21 -21.15 -20.43 -18.03 -19.22 -19.22 -16.98 -18.99 -20.82 -42.17 -43.72 -45.62 -55.79 -55.79 Net-Net Working Capital (per
share)
-0.68 1.38 -0.62 -1.80 -5.84 -6.20 -2.54 1.48 7.66 21.00 37.23 58.58 70.46 82.42 80.44 88.19 88.19 Projected FCF (per share)
7.36 7.16 7.44 7.51 8.25 7.40 8.22 9.48 11.05 14.39 17.88 23.64 28.66 48.72 64.81 69.50 69.50 Median PS (per share)
-1.43 14.43 -- -- -- 10.58 36.78 41.63 54.63 89.75 81.78 147 164 156 18.57 -- -- Peter Lynch Fair Value (per
share)
-- -- -- 10.79 -- 10.76 17.18 17.60 22.36 34.48 40.11 53.32 31.60 44.28 32.87 50.65 50.70 Graham Number (per share)
-113 -66.71 -23.14 -22.37 -13.30 23.42 16.24 13.70 15.65 12.81 7.13 12.07 6.49 22.76 19.96 17.71 17.71 Earnings Power Value
(EPV)
1.22 1.37 1.22 1.25 0.91 1.24 1.63 1.78 1.96 2.58 3.12 3.59 2.42 2.35 2.04 1.97 1.82 Altman Z-Score
4.00 7.00 4.00 6.00 4.00 7.00 6.00 6.00 8.00 8.00 7.00 8.00 5.00 5.00 4.00 7.00 7.00 Piotroski F-Score
-8.99 -2.61 -7.38 -2.60 -2.62 -2.80 -1.06 -2.71 -2.91 -2.74 -2.40 -3.44 6.25 -2.43 -2.40 -3.01 -3.01 Beneish M-Score
0.26 0.28 0.35 0.46 0.40 0.32 0.29 0.27 0.23 0.29 0.29 0.29 0.66 0.44 0.43 0.55 0.46 Scaled Net Operating
Assets
0.49 5.41 0.75 5.44 5.81 9.74 -0.14 -0.93 3.78 3.85 1.91 2.97 20.41 4.64 -1.16 -1.25 -1.25 Sloan Ratio (%)
1.30 1.32 1.27 1.01 1.11 1.29 1.17 1.06 1.16 1.12 0.98 0.92 0.81 0.80 0.61 0.64 0.64 Current Ratio
1.25 1.32 1.24 0.98 1.07 1.25 1.13 1.03 1.12 1.08 0.95 0.89 0.79 0.78 0.59 0.61 0.61 Quick Ratio
8.37 9.34 11.14 11.12 7.31 9.04 14.77 19.13 22.46 39.10 59.77 86.33 91.56 100 75.01 71.91 72.22 Highest Stock Price
4.72 6.64 7.51 5.45 2.70 3.49 7.84 12.83 16.10 21.55 36.59 58.77 55.66 61.68 57.58 53.60 46.62 Lowest Stock Price
-1.36 -23.33 -20.44 5.57 4.62 1.94 -0.94 1.25 0.81 2.32 4.37 4.80 1.48 0.22 -0.11 0.16 0.16 Shares Buyback Ratio (%)
10.88 -12.48 -0.97 -1.32 16.20 -6.69 10.78 12.91 10.31 12.03 7.97 10.28 10.08 33.81 4.59 5.99 5.98 YoY Rev. per Sh. Growth
(%)
-212 63.16 -562 321 -222 190 103 -2.35 32.13 62.73 23.46 48.42 -2.29 20.90 -54.58 75.85 75.64 YoY EPS Growth (%)
-1,167 114 -55.66 138 -82.10 651 37.80 -2.79 17.70 37.67 20.00 33.71 8.38 -4.97 -34.76 41.88 41.83 YoY EBITDA Growth (%)
5.54 27.34 -5.76 -2.56 -10.47 -6.57 -19.05 32.56 39.89 51.78 18.46 22.42 27.70 20.13 4.66 -3.79 -0.10 EBITDA 5-Y Growth (%)
107 112 152 161 145 143 143 144 141 140 135 128 124 123 123 123 123 Shares Outstanding (Basic
Average)
109 134 161 152 145 142 144 142 141 137 131 125 123 123 123 123 123 Shares Outstanding (EOP)
1.63 2.02 2.21 0.76 -0.05 0.32 0.58 0.94 0.89 1.12 1.15 0.71 0.63 0.37 1.40 1.08 1.07 Beta
02/25/05 02/17/06 02/23/07 02/20/08 02/19/09 02/19/10 02/23/11 02/21/12 02/14/13 02/13/14 02/11/15 02/11/16 02/28/17 02/15/18 02/15/19 02/12/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALK 6/7
02/25/05 02/23/07 02/20/08 02/19/09 02/19/09 02/23/11 02/14/13 02/13/14 02/11/15 02/11/16 02/28/17 02/15/18 02/15/19 02/12/20 02/12/20 02/12/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALK 7/7
CMS Energy Corp (NYSE:CMS) 03/03/2020 2:00PM EST GuruFocus
Price: $ 64.28 +0.14(+0.22%) Market Cap: $ 18.25 B Enterprise Value: $31.39 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 26.88
Cash to Debt 0.01 Operating margin (%) 18.10
Forward P/E N/A
Equity to Asset 0.19 Net-margin (%) 9.93
PE(NRI) 26.88
Interest Coverage 2.39 ROE (%) 13.91
F-Score:
P/B 3.63
ROA (%) 2.67
4 P/S 2.65
Z-Score: ROC (Joel Greenblatt) (%) 7.12
0.90 POCF 10.21
Revenue Growth (3Y)(%) 1.60
WACC vs 2.65% EV-to-EBIT 23.30
ROIC 5.92% EBITDA Growth (3Y)(%) 3.50
WACC PEG 6.54
EPS Growth (3Y)(%) 6.50
ROIC
Shiller P/E 33.50
Current Ratio 0.86
Quick Ratio 0.64
Days Inventory 50.27
Days Sales Outstanding 48.15
Warning Signs Quarterly Revenues Company Description
Interest Coverage: Low Mar Jun Sep Dec Full Year CMS Energy is an energy holding company with three principal businesses. Its regulated utility, Consumers Energy,
provides regulated natural gas service to 1.8 million customers and electric service to 1.8 million customers in
2016 1,801 1,371 1,587 1,640 6,399 Michigan. CMS Enterprises is engaged in wholesale power generation, including contracted renewable energy.
Dividend Yield %: Close to
2017 1,829 1,449 1,527 1,778 6,583 EnerBank primarily serves industrial customers.... (Read More)
10-year low , , , , , , ,
2018 1,953 1,492 1,599 1,829 6,873 Competitors: SAU:5110 TSX:FTS NYSE:AEE NYSE:AGR NYSE:EVRG MIL:TRN NAS:LNT
XSGO:ENELAM, XKRX:015760, BOM:532898, BSP:ELET3, TSX:H, NYSE:DTE, HKSE:00002, NYSE:PNW,
Price: Close to 10-year high 2019 2,059 1,445 1,546 1,795 6,845 NYSE:PPL, XMAD:REE, NYSE:EIX, BSP:CPFE3, NYSE:PCG
2020
PB Ratio: Close to 10-year
Insider Trades
high Quarterly Earnings per Share
PS Ratio: Close to 10-year Mar Jun Sep Dec Full Year
high 2016 0.59 0.45 0.67 0.28 1.99
2017 0.71 0.33 0.61 -0.01 1.64
Insider Sell: Insider Selling
2018 0.86 0.49 0.59 0.38 2.32
2019 0.75 0.33 0.73 0.58 2.39
Good Signs 2020
Operating Margin %: Quarterly Dividends Per Share
Expansion Mar Jun Sep Dec Full Year
2016 0.31 0.31 0.31 0.31 1.24
DCF 2017 0.33 0.33 0.33 0.33 1.33
2018 0.36 0.36 0.36 0.36 1.43
GuruFocus does not 2019 0.38 0.38 0.38 0.38 1.53
calculate intrinsic value: DCF 2020
(Earnings Based) for
companies with one star Growth Rate
predictability or not rated. But Annual Rates(per share) 10-Y 5-Y 12-M
you can go to each stock's
Revenue Growth (%) -0.70 -0.80 -0.90
DCF page to calculate
yourself. EBITDA Growth (%) 3.70 4.10 7.60
Free Cash Flow Growth (%) 0.00 -40.40 0.00
Reverse DCF Book Value Growth (%) 4.80 5.70 5.30
GuruFocus does not EPS Growth (%) 7.90 5.90 3.00
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMS 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
31.84 27.52 27.91 29.05 28.82 26.08 25.43 24.69 23.28 24.15 26.14 23.35 22.94 23.44 24.30 24.08 24.09 Revenue per Share
5.95 0.11 1.61 2.05 6.05 5.63 6.32 5.95 5.99 6.55 6.63 7.02 7.43 7.85 7.65 8.23 8.23 EBITDA per Share
3.44 -2.35 -1.01 -0.40 3.56 3.24 4.04 3.88 3.76 4.24 4.14 4.31 4.52 4.72 4.36 4.74 4.74 EBIT per Share
0.64 -0.44 -0.41 -1.02 1.20 0.91 1.28 1.57 1.39 1.66 1.74 1.89 1.98 1.64 2.32 2.39 2.39 Earnings per Share (diluted)
0.67 -0.71 -0.66 -0.62 1.20 0.83 1.36 1.57 1.40 1.66 1.74 1.89 1.98 1.64 2.32 2.39 2.39 eps without NRI
-2.18 -2.09 -1.83 -4.36 0.28 1.04 1.53 1.97 1.31 1.96 1.40 2.26 1.05 0.28 1.18 0.64 0.64 Owner Earnings per Share (TTM)
0.27 0.03 0.07 -5.68 -1.14 0.13 0.38 0.89 -0.13 0.15 -0.59 -0.14 -0.54 -0.27 -1.83 -1.57 -1.57 Free Cashflow per Share
-- -- -- 0.20 0.36 0.50 0.66 0.84 0.96 1.02 1.08 1.16 1.24 1.33 1.43 1.53 1.53 Dividends per Share
10.63 10.52 10.13 9.46 12.00 11.42 11.19 11.92 12.09 12.98 13.34 14.21 15.23 15.77 16.78 17.68 17.68 Book Value per Share
10.51 10.40 10.13 9.46 12.00 11.42 11.19 11.92 12.09 12.98 13.34 14.21 15.23 15.77 16.78 17.68 17.68 Tangible Book per Share
39.69 35.02 31.69 28.93 29.72 29.95 29.59 28.59 28.45 29.96 31.76 34.17 35.94 37.24 41.56 46.66 46.66 Total Debt per Share
10.45 14.51 16.70 17.38 10.11 15.66 18.60 22.08 24.38 26.77 34.75 36.08 41.62 47.30 49.65 62.84 64.28 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5.62 -3.82 -3.54 -9.31 11.14 7.84 11.50 14.26 12.28 13.60 13.39 13.75 13.45 10.58 14.29 13.92 13.91 Return on Equity %
0.81 -0.53 -0.50 -1.45 2.03 1.52 2.20 2.59 2.27 2.62 2.61 2.65 2.63 2.06 2.76 2.65 2.67 Return on Assets %
6.73 -5.27 -2.43 -0.95 8.46 7.20 9.18 8.91 8.30 8.88 8.22 8.05 8.01 7.89 6.84 7.08 7.12 Return on Capital %
6.64 -2.21 -0.96 -0.39 6.06 4.73 6.14 6.82 5.84 6.25 6.43 6.11 6.17 4.83 6.34 5.90 5.92 Return on Invested Capital %
4.56 6.51 3.17 2.42 3.29 5.49 5.16 3.51 3.31 3.56 3.39 3.49 2.95 2.34 3.20 3.16 2.65 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 6.04 6.42 6.07 5.67 5.26 5.14 4.87 4.35 4.46 4.27 4.11 4.15 4.14 Effective Interest Rate on Debt %
79.22 45.89 38.70 36.54 38.12 42.47 26.55 26.97 29.27 30.52 29.10 33.92 36.69 38.02 34.89 37.46 37.46 Gross Margin %
10.80 -8.52 -3.62 -1.36 11.66 11.04 15.11 15.42 16.04 17.39 16.05 18.25 19.63 20.33 16.91 18.10 18.10 Operating Margin %
2.21 -1.43 -1.29 -3.33 4.33 3.69 5.29 6.38 6.11 6.88 6.64 8.10 8.61 6.99 9.56 9.93 9.93 Net Margin %
0.86 0.10 0.26 -19.55 -3.95 0.48 1.48 3.58 -0.56 0.61 -2.26 -0.60 -2.34 -1.14 -7.52 -6.52 -6.52 FCF Margin %
3.32 2.99 2.80 2.74 2.48 2.40 2.64 2.40 2.35 2.31 2.38 2.41 2.36 2.36 2.48 2.64 2.64 Debt to Equity
0.15 0.16 0.16 0.17 0.18 0.19 0.18 0.18 0.19 0.20 0.19 0.19 0.20 0.19 0.19 0.19 0.19 Total Equity to Total Asset
0.49 0.48 0.46 0.46 0.45 0.45 0.47 0.44 0.44 0.46 0.46 0.47 0.46 0.46 0.48 0.49 0.49 Total Debt to Total Asset
29.18 16.91 15.10 15.98 17.84 17.48 11.07 10.94 10.90 11.60 11.41 11.09 11.20 11.21 10.08 9.98 10.06 Gross Profit to Total Asset %
0.37 0.37 0.39 0.44 0.47 0.41 0.42 0.41 0.37 0.38 0.39 0.33 0.31 0.30 0.29 0.27 0.27 Asset Turnover
-- -- -- -- 0.30 0.60 0.49 0.54 0.69 0.61 0.62 0.61 0.63 0.81 0.62 0.64 0.64 Dividend Payout Ratio
38.75 55.81 33.60 51.22 45.58 55.76 55.67 49.34 50.49 51.36 45.35 44.38 46.83 57.89 51.94 48.15 48.15 Days Sales Outstanding
126 70.34 55.02 38.35 44.72 52.04 38.01 44.89 42.99 47.61 49.34 54.93 53.88 66.20 59.79 54.14 54.14 Days Accounts Payable
309 132 127 119 119 85.93 56.06 90.77 93.71 78.61 64.50 72.56 63.25 58.06 53.91 53.50 50.27 Days Inventory
221 118 106 132 120 89.65 73.72 95.22 101 82.36 60.51 62.01 56.20 49.75 46.06 47.51 44.28 Cash Conversion Cycle
1.18 2.76 2.87 3.07 3.08 4.25 6.51 4.02 3.90 4.64 5.66 5.03 5.77 6.29 6.77 6.82 7.26 Inventory Turnover
0.21 0.54 0.61 0.63 0.62 0.58 0.73 0.73 0.71 0.69 0.71 0.66 0.63 0.62 0.65 0.63 0.63 COGS to Revenue
0.18 0.20 0.21 0.21 0.20 0.14 0.11 0.18 0.18 0.15 0.13 0.13 0.11 0.10 0.10 0.09 0.09 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMS 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5,472 5,879 6,126 6,464 6,807 6,205 6,432 6,503 6,253 6,566 7,179 6,456 6,399 6,583 6,873 6,845 6,845 Revenue
1,137 3,181 3,755 4,102 4,212 3,570 4,724 4,749 4,423 4,562 5,090 4,266 4,051 4,080 4,475 4,281 4,281 Cost of Goods Sold
4,335 2,698 2,371 2,362 2,595 2,635 1,708 1,754 1,830 2,004 2,089 2,190 2,348 2,503 2,398 2,564 2,564 Gross Profit
79.22 45.89 38.70 36.54 38.12 42.47 26.55 26.97 29.27 30.52 29.10 33.92 36.69 38.02 34.89 37.46 37.46 Gross Margin %
-- -- -- -- -- -- 50.00 -- -- -- -- -- -- -- -- -- -- Selling, General, & Admin. Expense
3,744 3,199 2,593 2,450 1,801 1,950 686 751 827 862 937 1,012 1,092 1,165 1,236 1,325 1,325 Other Operating Expense
591 -501 -222 -88.00 794 685 972 1,003 1,003 1,142 1,152 1,178 1,256 1,338 1,162 1,239 1,239 Operating Income
10.80 -8.52 -3.62 -1.36 11.66 11.04 15.11 15.42 16.04 17.39 16.05 18.25 19.63 20.33 16.91 18.10 18.10 Operating Margin %
-- -- -- -- 30.00 18.00 19.00 9.00 5.00 3.00 5.00 12.00 6.00 12.00 11.00 7.00 7.00 Interest Income
-- -- -- -- -400 -435 -431 -415 -389 -398 -407 -396 -435 -438 -458 -519 -519 Interest Expense
-- -- -- -- -370 -417 -412 -406 -384 -395 -402 -384 -429 -426 -447 -512 -512 Net Interest Income
-469 180 -99.00 -233 16.00 67.00 30.00 9.00 3.00 9.00 -21.00 2.00 -1.00 -26.00 59.00 102 102 Other Income (Expense)
-15.00 445 106 -11.00 -7.00 -11.00 -3.00 -2.00 -2.00 -2.00 -2.00 -2.00 -2.00 -2.00 -2.00 -2.00 -2.00 Other Income (Minority Interest)
122 -321 -321 -321 440 335 590 606 622 756 729 796 826 886 774 829 829 Pre-Tax Income
5.00 180 188 195 -139 -115 -224 -191 -245 -302 -250 -271 -273 -424 -115 -147 -147 Tax Provision
-4.10 56.07 58.57 60.75 31.59 34.33 37.97 31.52 39.39 39.95 34.29 34.05 33.05 47.86 14.86 17.73 17.73 Tax Rate %
127 -141 -133 -126 301 220 366 415 377 454 479 525 553 462 659 682 682 Net Income (Continuing Operations)
-4.00 57.00 54.00 -89.00 1.00 20.00 -23.00 2.00 7.00 -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
121 -84.00 -79.00 -215 295 229 340 415 382 452 477 523 551 460 657 680 680 Net Income
2.21 -1.43 -1.29 -3.33 4.33 3.69 5.29 6.38 6.11 6.88 6.64 8.10 8.61 6.99 9.56 9.93 9.93 Net Margin %
11.00 10.00 11.00 12.00 11.00 11.00 16.00 -- -- -- -- -- -- -- -- -- -- Preferred dividends
0.65 -0.44 -0.41 -1.02 1.25 0.96 1.40 1.65 1.43 1.71 1.76 1.90 1.99 1.64 2.33 2.40 2.40 EPS (Basic)
0.64 -0.44 -0.41 -1.02 1.20 0.91 1.28 1.57 1.39 1.66 1.74 1.89 1.98 1.64 2.32 2.39 2.39 EPS (Diluted)
172 214 220 223 236 238 253 263 269 272 275 277 279 281 283 284 285 Shares Outstanding (Diluted
Average)
431 525 576 545 589 570 576 546 598 628 685 750 811 881 933 992 992 Depreciation, Depletion and
Amortization
1,022 24.00 354 457 1,429 1,340 1,597 1,567 1,609 1,782 1,821 1,942 2,072 2,205 2,165 2,340 2,340 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMS 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
669 847 249 348 207 90.00 247 161 93.00 172 207 266 235 182 153 140 140 Cash And Cash Equivalents
669 847 249 348 207 90.00 247 161 93.00 172 207 266 235 182 153 140 140 Cash, Cash Equivalents, Marketable
Securities
581 899 564 907 850 948 981 879 865 924 892 785 821 1,044 978 903 903 Accounts Receivable
1,030 1,275 1,342 1,334 1,405 276 1,175 1,187 1,084 881 918 778 626 672 650 605 605 Inventories, Other
1,030 1,275 1,342 1,334 1,405 276 1,175 1,187 1,084 881 918 778 626 672 650 605 605 Total Inventories
719 899 988 291 263 1,347 261 289 307 486 455 363 406 379 438 460 460 Other Current Assets
2,999 3,920 3,143 2,880 2,827 2,742 2,759 2,565 2,422 2,526 2,597 2,320 2,280 2,475 2,468 2,331 2,331 Total Current Assets
-- -- -- -- 11.00 9.00 49.00 50.00 57.00 59.00 61.00 64.00 65.00 64.00 69.00 71.00 71.00 Investments And Advances
370 520 639 447 608 506 570 783 1,080 1,149 1,106 1,509 761 765 763 896 896 Construction In Progress
14,877 12,968 12,902 12,894 13,568 14,222 14,715 15,534 16,672 17,333 18,827 20,452 21,771 23,271 25,163 26,286 26,286 Gross Property, Plant and Equipment
-6,135 -5,123 -5,194 -4,166 -4,387 -4,540 -4,646 -4,901 -5,121 -5,087 -5,415 -5,747 -6,056 -6,510 -7,037 -7,360 -7,360 Accumulated Depreciation
8,742 7,845 7,708 8,728 9,181 9,682 10,069 10,633 11,551 12,246 13,412 14,705 15,715 16,761 18,126 18,926 18,926 Property, Plant and Equipment
23.00 27.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Intangible Assets
4,108 4,249 4,520 2,584 2,882 2,823 2,739 3,204 3,101 2,585 3,115 3,210 3,562 3,750 3,866 5,509 5,509 Other Long Term Assets
15,872 16,041 15,371 14,192 14,901 15,256 15,616 16,452 17,131 17,416 19,185 20,299 21,622 23,050 24,529 26,837 26,837 Total Assets
392 613 566 431 516 509 492 584 521 595 688 642 598 740 733 635 635 Accounts Payable
-- -- -- -- 289 283 302 282 279 297 316 349 348 360 398 437 437 Total Tax Payable
1,279 1,689 1,590 1,750 919 909 924 997 901 1,000 1,118 1,123 1,077 1,236 1,229 1,211 1,211 Accounts Payable & Accrued
Expense
476 445 566 723 514 734 750 1,057 651 732 600 955 1,284 1,273 1,093 1,220 1,220 Current Portion of Long-Term Debt
-- -- -- -- 100.00 43.00 180 -- 68.00 -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- 100.00 43.00 180 -- 68.00 -- -- -- -- -- -- -- -- DeferredTaxAndRevenue
-- -- -- -- 330 268 167 284 177 213 230 224 294 275 302 273 273 Other Current Liabilities
1,755 2,134 2,156 2,473 1,863 1,954 2,021 2,338 1,797 1,945 1,948 2,302 2,655 2,784 2,624 2,704 2,704 Total Current Liabilities
6,948 6,978 6,380 5,563 6,015 5,895 6,448 6,040 6,710 7,101 8,016 8,400 8,640 9,123 10,615 11,951 11,951 Long-Term Debt
315 308 42.00 225 206 197 188 167 153 138 123 118 110 91.00 69.00 76.00 76.00 Capital Lease Obligation
7,263 7,286 6,422 5,788 6,221 6,092 6,636 6,207 6,863 7,239 8,139 8,518 8,750 9,214 10,684 12,027 12,027 Long-Term Debt & Capital Lease
Obligation
3.32 2.99 2.80 2.74 2.48 2.40 2.64 2.40 2.35 2.31 2.38 2.41 2.36 2.36 2.48 2.64 2.64 Debt to Equity
-- -- -- -- 1,502 1,460 1,135 1,289 1,451 239 872 591 789 766 436 674 674 PensionAndRetirementBenefit
79.00 67.00 62.00 58.00 54.00 282 487 1,081 1,058 1,656 1,785 2,073 2,360 1,356 1,586 1,775 1,775 NonCurrent Deferred Liabilities
733 333 91.00 53.00 96.00 97.00 44.00 44.00 44.00 37.00 37.00 37.00 37.00 37.00 37.00 37.00 37.00 Minority Interest
3,709 3,638 4,145 3,440 2,446 2,530 2,500 2,465 2,724 2,846 2,734 2,840 2,778 4,452 4,407 4,602 4,602 Other Long-Term Liabilities
12,806 13,125 12,785 11,759 12,086 12,318 12,779 13,380 13,893 13,925 15,478 16,324 17,332 18,572 19,737 21,782 21,782 Total Liabilities
2.00 2.00 2.00 2.00 2.00 2.00 2.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 Common Stock
261 261 261 250 -- 239 -- -- -- -- -- -- -- -- -- -- -- Preferred Stock
-1,734 -1,828 -1,918 -2,208 -2,031 -1,927 -1,757 -1,553 -1,423 -1,242 -1,058 -855 -616 -531 -271 -25.00 -25.00 Retained Earnings
-336 -288 -318 -144 -28.00 -33.00 -40.00 -49.00 -55.00 -22.00 -49.00 -47.00 -50.00 -50.00 -65.00 -73.00 -73.00 Accumulated other comprehensive
income (loss)
4,140 4,436 4,468 4,480 4,533 4,560 4,588 4,627 4,669 4,715 4,774 4,837 4,916 5,019 5,088 5,113 5,113 Additional Paid-In Capital
2,333 2,583 2,495 2,380 2,719 2,841 2,793 3,028 3,194 3,454 3,670 3,938 4,253 4,441 4,755 5,018 5,018 Total Equity
0.15 0.16 0.16 0.17 0.18 0.19 0.18 0.18 0.19 0.20 0.19 0.19 0.20 0.19 0.19 0.19 0.19 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMS 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
121 -84.00 -79.00 -215 302 240 343 417 384 454 479 525 553 462 659 682 682 Net Income
121 -84.00 -79.00 -215 302 240 343 417 384 454 479 525 553 462 659 682 682 Net Income From Continuing
Operations
431 525 576 545 589 570 576 546 598 628 685 750 811 881 933 992 992 Depreciation, Depletion and
Amortization
-144 -311 -91.00 -451 -80.00 -132 -72.00 119 -147 -120 -31.00 120 -155 -66.00 15.00 45.00 45.00 Change In Receivables
-109 -245 -105 -10.00 -71.00 86.00 133 -14.00 104 202 -36.00 147 146 -46.00 14.00 44.00 44.00 Change In Inventory
86.00 170 -43.00 -45.00 -36.00 -56.00 15.00 -4.00 -35.00 4.00 50.00 -26.00 59.00 49.00 22.00 -69.00 -69.00 Change In Payables And Accrued
Expense
-169 -227 -58.00 -528 -330 -7.00 -33.00 94.00 -156 -2.00 -16.00 222 7.00 -174 105 -33.00 -33.00 Change In Working Capital
-- -199 -271 -221 126 122 227 167 227 268 227 247 264 417 182 150 150 Change In DeferredTax
189 584 518 446 -130 -77.00 -211 -129 131 6.00 26.00 -104 -56.00 70.00 -230 -68.00 -1.00 Cash Flow from Others
572 599 686 27.00 557 848 959 1,169 1,241 1,421 1,481 1,640 1,629 1,705 1,703 1,790 1,790 Cash Flow from Operations
-525 -593 -670 -1,291 -34.00 -49.00 -43.00 -54.00 -49.00 -56.00 -66.00 -115 -107 -115 -146 -132 -132 Purchase Of Property, Plant,
Equipment
219 61.00 69.00 1,717 3.00 7.00 -- -- -- -- -- -- -- -- -- 97.00 -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -- -- -- -154 -- -- -- -- -- Purchase Of Business
-3,050 -607 -131 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Purchase Of Investment
2,942 613 254 -- -- -- -- -- -- -- -- -- -- -- 146 -- -- Sale Of Investment
22.00 32.00 -271 232 -808 -893 -960 -1,004 -1,301 -1,476 -1,832 -1,795 -1,808 -1,753 -2,606 -2,781 -2,684 Cash From Other Investing Activities
-392 -494 -749 658 -839 -935 -1,003 -1,058 -1,350 -1,532 -1,898 -2,064 -1,915 -1,868 -2,606 -2,816 -2,816 Cash Flow from Investing
290 295 8.00 15.00 9.00 9.00 10.00 29.00 30.00 36.00 43.00 43.00 72.00 83.00 41.00 12.00 12.00 Issuance of Stock
-11.00 -- -- -32.00 -1.00 -- -- -- -- -- -- -- -- -- -- -- -- Repurchase of Stock
-- -- -- -- -1.00 -4.00 -239 -- -- -7.00 -- -- -- -- -- -- -- Net Issuance of Preferred Stock
-283 -153 -417 -600 232 120 593 26.00 263 427 750 742 548 472 1,337 1,490 1,490 Net Issuance of Debt
-- -11.00 -11.00 -56.00 -93.00 -125 -162 -211 -252 -273 -295 -322 -347 -377 -407 -436-436 Cash Flow for Dividends
-39.00 -57.00 -14.00 -17.00 -- -35.00 -- -43.00 -- 7.00 -36.00 -- -18.00 -68.00 -97.00 -58.00 -58.00 Other Financing
-43.00 74.00 -434 -690 147 -35.00 202 -199 41.00 190 462 463 255 110 874 1,008 1,008 Cash Flow from Financing
137 178 -496 -3.00 -135 -122 158 -88.00 -68.00 79.00 45.00 39.00 -31.00 -53.00 -29.00 -18.00 -18.00 Net Change in Cash
-525 -593 -670 -1,291 -826 -818 -864 -936 -1,276 -1,381 -1,643 -1,679 -1,779 -1,780 -2,220 -2,236 -2,236 Capital Expenditure
47.00 6.00 16.00 -1,264 -269 30.00 95.00 233 -35.00 40.00 -162 -39.00 -150 -75.00 -517 -446 -446 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMS 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.33 -- -- -- 8.57 17.21 14.88 14.06 17.54 16.22 19.97 19.09 20.91 28.84 21.40 26.29 26.88 PE Ratio(TTM)
-- -- -- -- 36.76 15.04 12.15 11.24 18.65 13.66 24.87 15.94 39.68 167 42.04 98.03 100 Price to Owner Earnings
(TTM)
0.98 1.38 1.65 1.84 0.84 1.37 1.66 1.85 2.02 2.06 2.61 2.54 2.73 3.00 2.96 3.56 3.63 Price to Book
0.99 1.40 1.65 1.84 0.84 1.37 1.66 1.85 2.02 2.06 2.61 2.54 2.73 3.00 2.96 3.56 3.64 Price to Tangible Book
40.66 179 298 -- -- 99.75 38.43 23.97 -- 172 -- -- -- -- -- -- -- Price-to-Free-Cash-Flow
Ratio
3.07 5.17 5.42 54.83 4.36 4.34 4.77 4.94 5.26 5.12 6.44 6.07 7.12 7.78 8.24 9.97 10.21 Price-to-Operating-Cash-
Flow Ratio
0.32 0.54 0.59 0.60 0.35 0.60 0.73 0.89 1.05 1.11 1.33 1.54 1.81 2.02 2.04 2.61 2.65 PS Ratio
-- -- -- -- -- -- -- 0.44 1.67 30.53 6.96 5.68 4.13 6.58 5.17 6.86 6.54 PEG Ratio
1.85 1.82 1.74 1.61 1.31 1.71 1.84 1.96 2.22 2.28 2.53 2.98 3.35 3.59 3.74 4.53 4.57 EV-to-Revenue
9.88 562 26.28 20.51 5.96 7.98 7.40 8.14 8.64 8.39 9.96 9.91 10.36 10.73 11.89 13.24 13.40 EV-to-EBITDA
17.09 -21.11 -58.55 -130 10.13 13.93 11.58 12.50 13.75 12.96 15.96 16.15 17.02 17.87 20.89 22.99 23.30 EV-to-EBIT
5.85 -4.74 -1.71 -0.77 9.87 7.18 8.64 8.00 7.27 7.72 6.27 6.19 5.88 5.60 4.79 4.35 4.32 Return on Capital %
-55.27 -38.01 -7.77 -11.24 -11.85 -8.02 -6.56 16.06 8.52 1.85 3.44 2.90 4.00 3.72 2.67 2.59 2.62 Forward Rate of Return
19.05 60.52 -- -- -- -- -- -- 50.35 38.27 43.81 35.04 32.02 29.06 28.30 32.73 33.50 Shiller PE Ratio
-- -- -- 1.15 3.56 3.19 3.55 3.80 3.94 3.81 3.11 3.22 2.98 2.82 2.88 2.43 2.43 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,038 3,203 3,682 3,912 2,291 3,569 4,643 5,611 6,439 7,123 9,563 10,001 11,620 13,320 14,071 17,840 18,248 Market Cap
10,102 10,681 10,773 10,378 8,915 10,641 11,826 12,758 13,904 14,959 18,132 19,245 21,456 23,662 25,732 30,984 31,392 Enterprise Value
10.45 14.51 16.70 17.38 10.11 15.66 18.60 22.08 24.38 26.77 34.75 36.08 41.62 47.30 49.65 62.84 64.28 Month End Stock Price
-66.00 -57.13 -57.27 -50.93 -52.84 -54.08 -50.38 -52.20 -52.42 -51.82 -55.63 -58.06 -61.37 -65.44 -69.23 -76.36 -76.36 Net Cash (per share)
-55.39 -44.39 -45.32 -40.79 -41.28 -43.49 -40.32 -42.74 -43.60 -42.98 -46.94 -50.65 -54.04 -57.29 -61.07 -68.64 -68.64 Net Current Asset Value
(per share)
-62.46 -52.37 -53.49 -46.05 -46.93 -51.40 -45.08 -47.27 -47.91 -47.56 -51.53 -54.54 -58.04 -61.46 -65.50 -72.91 -72.91 Net-Net Working Capital (per
share)
-10.95 -6.94 -3.32 -6.50 -5.91 -0.01 0.13 2.19 2.35 10.68 11.80 12.13 11.54 10.25 8.37 6.36 6.36 Projected FCF (per share)
16.49 12.37 12.81 13.08 12.18 10.69 10.88 12.02 12.29 13.74 16.28 17.46 20.14 25.38 28.18 31.76 31.76 Median PS (per share)
-- -- -- -- -- -- -- 39.20 14.55 -- -- -- 10.07 -- -- -- -- Peter Lynch Fair Value (per
share)
12.59 -- -- -- 18.00 14.60 18.50 20.50 19.49 22.02 22.85 24.58 26.05 24.12 29.59 30.83 30.83 Graham Number (per share)
-63.50 -62.00 -55.83 -49.55 -49.37 -49.72 -41.94 -32.41 -27.04 -31.52 -38.80 -44.79 -54.11 -60.59 -64.25 -69.81 -69.81 Earnings Power Value
(EPV)
0.41 0.42 0.41 0.40 0.60 0.63 0.74 0.74 0.77 0.84 0.90 0.82 0.83 0.86 0.85 0.89 0.90 Altman Z-Score
7.00 4.00 6.00 4.00 6.00 5.00 5.00 6.00 5.00 6.00 6.00 5.00 5.00 6.00 5.00 4.00 4.00 Piotroski F-Score
-- -- -- -- -- -- -- -2.57 -- -- -- -- -- -- -- -- -- Beneish M-Score
0.73 0.62 0.58 0.56 0.66 0.65 0.65 0.65 0.65 0.66 0.70 0.69 0.69 0.68 0.71 0.74 0.70 Scaled Net Operating
Assets
-0.37 -1.18 -0.10 -6.34 3.87 2.07 2.46 1.85 2.87 3.23 4.66 4.67 3.87 2.70 6.36 6.36 6.36 Sloan Ratio (%)
1.71 1.84 1.46 1.16 1.52 1.40 1.37 1.10 1.35 1.30 1.33 1.01 0.86 0.89 0.94 0.86 0.86 Current Ratio
1.12 1.24 0.84 0.63 0.76 1.26 0.78 0.59 0.74 0.85 0.86 0.67 0.62 0.65 0.69 0.64 0.64 Quick Ratio
10.53 16.71 16.95 18.93 17.38 16.04 19.16 22.35 24.81 29.94 36.42 38.20 46.17 50.55 53.48 65.04 69.17 Highest Stock Price
7.90 9.81 12.46 15.48 8.81 10.09 14.26 17.16 21.33 24.38 26.12 31.39 35.61 41.51 41.77 48.31 53.41 Lowest Stock Price
-21.04 -13.21 0.12 -2.09 -0.68 -0.56 -9.52 -1.80 -3.94 -0.76 -3.42 -0.73 -0.72 -0.86 -0.64 -0.18 -0.18 Shares Buyback Ratio (%)
-11.45 -13.56 1.41 4.08 -0.78 -9.50 -2.49 -2.93 -5.71 3.73 8.26 -10.69 -1.73 2.18 3.63 -0.90 -0.90 YoY Rev. per Sh. Growth
(%)
313 -169 6.82 -149 218 -24.17 40.66 22.66 -11.46 19.42 4.82 8.62 4.76 -17.17 41.46 3.02 3.02 YoY EPS Growth (%)
2.09 -98.12 1,340 27.28 195 -6.89 12.11 -5.80 0.69 9.42 1.17 5.93 5.77 5.71 -2.55 7.55 7.54 YoY EBITDA Growth (%)
-21.35 -22.10 -- -- -- -- -- 31.66 10.43 0.53 2.87 3.36 5.06 4.38 4.14 3.83 4.10 EBITDA 5-Y Growth (%)
169 214 220 223 226 227 232 251 261 265 271 276 278 280 282 283 283 Shares Outstanding (Basic
Average)
195 221 221 225 227 228 250 254 264 266 275 277 279 282 283 284 284 Shares Outstanding (EOP)
2.77 2.96 0.82 0.46 0.90 0.60 0.58 0.21 0.22 0.15 0.24 0.28 0.07 -0.05 0.12 0.15 0.16 Beta
03/10/05 02/24/06 02/23/07 02/21/08 02/25/09 03/01/10 02/24/11 02/23/12 02/21/13 02/06/14 02/05/15 02/11/16 02/07/17 02/14/18 02/05/19 02/06/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMS 6/7
02/24/06 02/23/07 02/21/08 02/25/09 03/01/10 02/23/12 02/21/13 02/06/14 02/05/15 02/11/16 02/07/17 02/14/18 02/05/19 02/06/20 02/06/20 02/06/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMS 7/7
Halliburton Co (NYSE:HAL) 03/03/2020 2:00PM EST GuruFocus
Price: $ 15.86 -1.18(-6.92%) Market Cap: $ 13.96 B Enterprise Value: $23.05 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.20 Operating margin (%) 9.18
P/B 1.73
Equity to Asset 0.32 Net-margin (%) -5.05
P/S 0.62
Interest Coverage 3.55 ROE (%) -12.19
F-Score:
PFCF 15.26
ROA (%) -4.28
2 POCF 5.69
Z-Score: ROC (Joel Greenblatt) (%) 15.17
2.30 EV-to-EBIT 10.77
Revenue Growth (3Y)(%) 11.50
M-Score: Shiller P/E 19.35
-2.68 EBITDA Growth (3Y)(%) 19.10
Current Ratio 2.30
WACC vs 9.16% EPS Growth (3Y)(%) 42.20
ROIC 11.05% Quick Ratio 1.65
WACC
ROIC Days Inventory 58.62
Days Sales Outstanding 74.55
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Halliburton is the world's second- largest oilfield-services company. Building from its origins pioneering oil and gas well
Insider Sell: Insider Selling
cementing in the 1920s, Halliburton has evolved into the premier wellbore engineering company, with leading
2016 4,198 3,835 3,833 4,021 15,887 business lines in cementing, completion equipment, and pressure pumping. It added drilling services as a second key
2017 4,279 4,957 5,444 5,940 20,620 area of focus via its 1998 acquisition of Dresser and today stands second only to industry leader Schlumberger.
Good Signs 2018 5,740 6,147 6,172 5,936 23,995
Owing to its strategic bet on U.S. shale starting nearly two decades ago, Halliburton has played an unparalleled role
in facilitating the shale revolution.... (Read More)
Dividend Yield %: Close to 2019 5,737 5,930 5,550 5,191 22,408 Competitors: NYSE:BKR, OTCPK:WFTLF, MIL:TEN, SHSE:601808 , NYSE:NOV, XPAR:FTI, XAMS:VPK,
10-year high 2020 SZSE:002353, ASX:WOR, XKLS:7277, SHSE:600583, MIL:SPM, OSL:AKER, SHSE:600968, XPAR:GTT,
XAMS:SBMO, OSL:SUBC, OSL:TGS, SHSE:600339, XPAR:CGG
Price: Close to 10-year low Quarterly Earnings per Share
Insider Trades
PS Ratio: Close to 10-year Mar Jun Sep Dec Full Year
low 2016 -2.81 -3.73 0.01 -0.17 -6.70
2017 -0.04 0.03 0.42 -0.94 -0.53
2018 0.05 0.58 0.50 0.76 1.89
DCF 2019 0.17 0.09 0.34 -1.88 -1.28
EPS without NRI: $-1.28 2020
Growth Rate in the next 10 Quarterly Dividends Per Share
years: 5%
Terminal Growth Rate for 10 Mar Jun Sep Dec Full Year
years: 4% 2016 0.18 0.18 0.18 0.18 0.72
Fair Value: $-13.70 2017 0.18 0.18 0.18 0.18 0.72
2018 0.18 0.18 0.18 0.18 0.72
2019 0.18 0.18 0.18 0.18 0.72
Reverse DCF 2020
Expected eps Growth Rate: Growth Rate
inf%
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 1.90 -5.10 -6.40
EBITDA Growth (%) -1.80 -8.10 -14.90
Free Cash Flow Growth (%) 0.00 0.00 -18.90
Book Value Growth (%) -2.20 -2.20 -16.50
EPS Growth (%) 0.00 0.00 -168.30
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAL 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
22.54 9.73 12.29 16.07 20.11 16.27 19.73 26.93 30.71 32.60 38.58 27.71 18.45 23.70 27.36 25.61 25.60 Revenue per Share
1.44 2.52 3.53 4.42 5.23 3.22 4.48 6.75 6.56 6.69 8.49 4.87 2.49 4.11 4.95 4.21 4.30 EBITDA per Share
0.87 2.09 3.08 3.80 4.42 2.19 3.25 5.12 4.81 4.59 6.00 2.72 0.75 2.32 3.12 2.35 2.44 EBIT per Share
-1.12 2.27 2.23 3.68 2.45 1.27 2.01 3.08 2.84 2.36 4.11 -0.79 -6.69 -0.53 1.89 -1.29 -1.28 Earnings per Share (diluted)
0.42 2.24 2.07 2.66 2.91 1.28 1.97 3.26 2.78 2.33 4.03 -0.78 -6.69 -0.51 1.89 -1.29 -1.28 eps without NRI
-0.88 1.27 2.09 3.20 1.35 1.37 0.59 4.47 1.54 2.17 2.74 -0.35 -7.95 -1.55 1.40 -1.22 -1.22 Owner Earnings per Share (TTM)
0.40 0.12 2.68 0.61 0.94 0.60 0.16 -2.71 0.10 1.68 0.91 0.85 -2.91 1.26 1.29 1.05 1.04 Free Cashflow per Share
0.25 0.25 0.30 0.35 0.36 0.36 0.36 0.36 0.36 0.53 0.63 0.72 0.72 0.72 0.72 0.72 0.72 Dividends per Share
4.45 6.20 7.39 7.80 8.61 9.68 11.40 14.33 16.97 16.00 19.18 18.06 10.87 9.53 10.93 9.13 9.13 Book Value per Share
3.55 5.45 6.90 6.90 7.42 8.46 9.95 12.40 14.67 13.44 16.44 15.28 8.08 6.45 7.69 5.92 5.92 Tangible Book per Share
4.47 3.09 2.82 3.17 2.91 5.07 4.20 5.23 5.19 9.21 9.17 17.93 14.30 12.53 11.88 12.93 12.93 Total Debt per Share
19.62 30.98 31.05 37.91 18.18 30.09 40.83 34.51 34.69 50.75 39.33 34.04 54.09 48.87 26.58 24.47 15.86 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-30.22 45.77 34.16 49.14 30.48 13.92 19.21 24.09 18.20 14.48 23.45 -4.23 -46.34 -5.22 18.56 -12.90 -12.19 Return on Equity %
-6.24 15.26 14.72 23.33 16.16 7.41 10.54 13.53 10.32 7.50 11.40 -1.94 -18.03 -1.78 6.49 -4.40 -4.28 Return on Assets %
30.12 53.23 55.57 74.28 95.48 36.92 45.95 46.60 30.38 24.52 27.90 12.74 4.33 16.20 21.13 15.98 15.17 Return on Capital %
10.18 36.83 30.48 34.82 32.83 14.40 18.48 23.31 18.04 17.03 18.72 7.71 2.52 -7.65 14.33 11.84 11.05 Return on Invested Capital %
10.75 8.66 13.94 12.25 11.52 11.64 11.51 10.22 11.29 12.69 6.96 7.42 7.80 3.25 1.27 9.98 9.16 Weighted Average Cost Of Capital (WACC) %
-- -- -- 5.50 6.19 8.07 7.34 6.20 6.33 5.37 5.08 3.87 5.03 5.08 5.20 5.24 5.21 Effective Interest Rate on Debt %
5.69 23.34 27.24 24.50 23.14 14.96 18.02 20.21 16.61 15.21 16.84 10.66 5.48 11.04 12.44 10.20 10.20 Gross Margin %
3.85 21.43 25.05 22.92 21.94 13.59 16.74 19.08 15.64 14.07 15.95 9.82 4.05 9.80 11.39 9.18 9.18 Operating Margin %
-4.92 23.35 18.12 22.92 12.17 7.80 10.21 11.43 9.24 7.23 10.65 -2.84 -36.27 -2.25 6.90 -5.05 -5.05 Net Margin %
1.78 1.25 21.79 3.80 4.65 3.69 0.80 -10.07 0.31 5.15 2.37 3.06 -15.74 5.31 4.71 4.08 4.08 FCF Margin %
1.01 0.50 0.38 0.41 0.34 0.52 0.37 0.37 0.31 0.58 0.48 0.99 1.32 1.32 1.09 1.42 1.42 Debt to Equity
0.25 0.42 0.44 0.52 0.54 0.53 0.57 0.56 0.58 0.47 0.51 0.42 0.35 0.33 0.37 0.32 0.32 Total Equity to Total Asset
0.25 0.21 0.17 0.21 0.18 0.28 0.21 0.20 0.18 0.27 0.24 0.42 0.46 0.44 0.40 0.45 0.45 Total Debt to Total Asset
7.22 15.25 22.12 24.93 30.74 14.20 18.59 23.91 18.53 15.79 18.04 7.29 2.72 8.74 11.69 8.90 8.65 Gross Profit to Total Asset %
1.27 0.65 0.81 1.02 1.33 0.95 1.03 1.18 1.12 1.04 1.07 0.68 0.50 0.79 0.94 0.87 0.85 Asset Turnover
0.60 0.11 0.15 0.13 0.12 0.28 0.18 0.11 0.13 0.23 0.16 -- -- -- 0.38 -- -- Dividend Payout Ratio
52.74 174 74.07 -- -- -- -- 74.74 74.11 76.73 83.99 82.12 90.11 89.14 79.62 74.55 74.55 Days Sales Outstanding
45.53 124 25.36 24.32 23.33 23.02 28.21 33.64 31.34 34.62 37.58 34.90 42.88 50.82 52.43 44.11 44.11 Days Accounts Payable
14.46 41.11 42.36 42.66 42.70 50.10 43.82 41.55 44.19 47.52 45.91 56.74 64.02 46.47 47.12 55.93 58.62 Days Inventory
21.67 90.73 91.07 18.34 19.37 27.08 15.61 82.65 86.96 89.63 92.32 104 111 84.79 74.31 86.37 89.06 Cash Conversion Cycle
25.24 8.88 8.62 8.56 8.55 7.28 8.33 8.79 8.26 7.68 7.95 6.43 5.70 7.85 7.75 6.53 6.23 Inventory Turnover
0.94 0.77 0.73 0.76 0.77 0.85 0.82 0.80 0.83 0.85 0.83 0.89 0.95 0.89 0.88 0.90 0.90 COGS to Revenue
0.04 0.09 0.08 0.09 0.09 0.12 0.10 0.09 0.10 0.11 0.11 0.14 0.17 0.11 0.11 0.14 0.14 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAL 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
19,884 10,100 12,955 15,264 18,279 14,675 17,973 24,829 28,503 29,402 32,870 23,633 15,887 20,620 23,995 22,408 22,408 Revenue
18,752 7,743 9,426 11,525 14,049 12,479 14,735 19,811 23,769 24,931 27,334 21,113 15,017 18,343 21,009 20,123 20,123 Cost of Goods Sold
1,132 2,357 3,529 3,739 4,230 2,196 3,238 5,018 4,734 4,471 5,536 2,520 870 2,277 2,986 2,285 2,285 Gross Profit
5.69 23.34 27.24 24.50 23.14 14.96 18.02 20.21 16.61 15.21 16.84 10.66 5.48 11.04 12.44 10.20 10.20 Gross Margin %
361 294 342 293 282 207 229 281 275 333 293 200 226 256 254 227 227 Selling, General, & Admin. Expense
6.00 -101 -58.00 -52.00 -62.00 -5.00 -- -- -- -- -- -- -- -- -- -- -- Other Operating Expense
765 2,164 3,245 3,498 4,010 1,994 3,009 4,737 4,459 4,138 5,243 2,320 644 2,021 2,732 2,058 2,058 Operating Income
3.85 21.43 25.05 22.92 21.94 13.59 16.74 19.08 15.64 14.07 15.95 9.82 4.05 9.80 11.39 9.18 9.18 Operating Margin %
-- -- -- 124 39.00 5.00 11.00 5.00 7.00 8.00 13.00 -- 59.00 -- -- -- 10.00 Interest Income
-- -- -- -154 -167 -290 -308 -268 -305 -339 -396 -447 -698 -593 -554 -569 -579 Interest Expense
-- -- -- -30.00 -128 -285 -297 -263 -298 -331 -383 -447 -639 -593 -554 -569 -569 Net Interest Income
-131 -167 -46.00 -8.00 -33.00 -27.00 -57.00 -25.00 -339 -1,043 -148 -2,809 -7,630 -746 -364 -2,611 -2,611 Other Income (Expense)
-25.00 -15.00 -19.00 -29.00 9.00 -10.00 -7.00 -5.00 -10.00 -10.00 -1.00 -4.00 6.00 5.00 -1.00 -2.00 -2.00 Other Income (Minority Interest)
634 1,997 3,199 3,460 3,849 1,682 2,655 4,449 3,822 2,764 4,712 -936 -7,625 682 1,814 -1,122 -1,122 Pre-Tax Income
-235 125 -1,003 -907 -1,211 -518 -853 -1,439 -1,235 -648 -1,275 274 1,858 -1,131 -157 -7.00 -7.00 Tax Provision
37.07 -6.26 31.35 26.21 31.46 30.80 32.13 32.34 32.31 23.44 27.06 29.27 24.37 166 8.65 -0.62 -0.62 Tax Rate %
374 2,107 2,177 2,524 2,638 1,164 1,802 3,010 2,587 2,116 3,437 -662 -5,767 -449 1,657 -1,129 -1,129 Net Income (Continuing Operations)
-1,353 251 171 975 -423 -9.00 40.00 -166 58.00 19.00 64.00 -5.00 -2.00 -19.00 -- -- -- Net Income (Discontinued
Operations)
-979 2,358 2,348 3,499 2,224 1,145 1,835 2,839 2,635 2,125 3,500 -671 -5,763 -463 1,656 -1,131 -1,131 Net Income
-4.92 23.35 18.12 22.92 12.17 7.80 10.21 11.43 9.24 7.23 10.65 -2.84 -36.27 -2.25 6.90 -5.05 -5.05 Net Margin %
-1.12 2.34 2.31 3.83 2.52 1.27 2.02 3.09 2.85 2.37 4.13 -0.79 -6.69 -0.53 1.89 -1.29 -1.28 EPS (Basic)
-1.12 2.27 2.23 3.68 2.45 1.27 2.01 3.08 2.84 2.36 4.11 -0.79 -6.69 -0.53 1.89 -1.29 -1.28 EPS (Diluted)
882 1,038 1,054 950 909 902 911 922 928 902 852 853 861 870 877 875 878 Shares Outstanding (Diluted
Average)
509 448 480 583 738 931 1,119 1,503 1,628 1,900 2,126 1,835 1,503 1,556 1,606 1,625 1,625 Depreciation, Depletion and
Amortization
1,274 2,612 3,725 4,197 4,754 2,903 4,082 6,220 6,087 6,038 7,234 4,155 2,147 3,577 4,338 3,683 3,766 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAL 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,917 2,391 2,918 1,847 1,124 2,082 1,398 2,698 2,484 2,356 2,291 10,077 4,009 2,337 2,008 2,268 2,268 Cash And Cash Equivalents
891 -- 20.00 388 -- 1,312 653 -- -- -- -- -- -- -- -- -- -- Marketable Securities
2,808 2,391 2,938 2,235 1,124 3,394 2,051 2,698 2,484 2,356 2,291 10,077 4,009 2,337 2,008 2,268 2,268 Cash, Cash Equivalents, Marketable
Securities
2,873 4,801 2,629 -- -- -- -- 5,084 5,787 6,181 7,564 5,317 3,922 5,036 5,234 4,577 4,577 Accounts Receivable
156 181 256 325 446 480 496 673 793 720 754 879 778 703 934 1,147 1,147 Inventories, Raw Materials &
Components
33.00 57.00 96.00 92.00 70.00 28.00 75.00 96.00 129 140 211 122 109 146 147 127 127 Inventories, Work In Process
602 715 883 1,042 1,312 1,090 1,369 1,801 2,264 2,445 2,606 1,992 1,388 1,547 1,947 1,865 1,865 Inventories, Finished Goods
791 953 1,235 1,459 1,828 1,598 1,940 2,570 3,186 3,305 3,571 2,993 2,275 2,396 3,028 3,139 3,139 Total Inventories
680 1,241 4,388 786 664 682 971 1,225 1,629 1,862 1,221 1,683 1,471 1,008 881 1,228 1,228 Other Current Assets
10,030 9,386 11,190 7,573 7,411 8,638 8,886 11,577 13,086 13,704 14,647 20,070 11,677 10,777 11,151 11,212 11,212 Total Current Assets
68.00 66.00 -- 46.00 -- 86.00 105 123 145 213 217 240 228 248 252 202 202 Land And Improvements
1,088 940 -- 869 -- 1,306 1,438 1,609 1,861 2,685 3,311 3,486 3,399 3,460 3,461 3,167 3,167 Buildings And Improvements
5,071 5,480 -- 6,841 -- 9,597 11,363 13,856 16,307 17,904 19,954 19,967 16,103 17,062 18,313 16,571 16,571 Machinery, Furniture, Equipment
6,227 6,486 6,350 7,756 4,782 10,989 12,906 15,588 18,313 20,802 23,482 23,693 19,730 20,770 22,026 20,871 20,871 Gross Property, Plant and Equipment
-3,674 -3,838 -3,793 -4,126 -- -5,230 -6,064 -7,096 -8,056 -9,480 -11,007 -11,576 -11,198 -12,249 -13,153 -12,630 -12,630 Accumulated Depreciation
2,553 2,648 2,557 3,630 4,782 5,759 6,842 8,492 10,257 11,322 12,475 12,117 8,532 8,521 8,873 8,241 8,241 Property, Plant and Equipment
795 765 486 790 1,072 1,100 1,315 1,776 2,135 2,168 2,330 2,385 2,414 2,693 2,825 2,812 2,812 Intangible Assets
-- 765 486 790 1,072 1,100 1,315 1,776 2,135 2,168 2,330 2,385 2,414 2,693 2,825 2,812 2,812 Goodwill
2,486 2,249 2,627 1,142 1,120 1,041 1,254 1,832 1,932 2,029 2,713 2,370 4,377 3,094 3,133 3,112 3,112 Other Long Term Assets
15,864 15,048 16,860 13,135 14,385 16,538 18,297 23,677 27,410 29,223 32,165 36,942 27,000 25,085 25,982 25,377 25,377 Total Assets
2,339 2,628 655 768 898 787 1,139 1,826 2,041 2,365 2,814 2,019 1,764 2,554 3,018 2,432 2,432 Accounts Payable
-- -- -- 209 -- -- -- -- -- 357 407 293 218 231 248 310 310 Total Tax Payable
2,812 3,276 1,151 1,552 1,541 1,301 1,855 1,826 2,041 2,722 3,221 2,312 1,982 2,785 3,266 2,742 2,742 Accounts Payable & Accrued
Expense
362 361 26.00 159 26.00 750 -- -- -- -- 14.00 659 170 512 36.00 208 208 Current Portion of Long-Term Debt
-- -- 171 209 231 215 266 309 307 350 349 298 261 -- -- -- -- Current Deferred Revenue
-- -- 171 209 231 215 266 309 307 350 349 298 261 -- -- -- -- DeferredTaxAndRevenue
3,958 790 3,386 491 983 623 636 1,986 2,404 1,954 2,282 2,068 1,610 1,565 1,500 1,928 1,928 Other Current Liabilities
7,132 4,427 4,734 2,411 2,781 2,889 2,757 4,121 4,752 5,026 5,866 5,337 4,023 4,862 4,802 4,878 4,878 Total Current Liabilities
3,593 2,813 2,783 2,627 2,586 3,824 3,824 4,820 4,820 7,816 7,765 14,687 12,214 10,430 10,312 10,316 10,316 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 825 825 Capital Lease Obligation
3,593 2,813 2,783 2,627 2,586 3,824 3,824 4,820 4,820 7,816 7,765 14,687 12,214 10,430 10,312 11,141 11,141 Long-Term Debt & Capital Lease
Obligation
1.01 0.50 0.38 0.41 0.34 0.52 0.37 0.37 0.31 0.58 0.48 0.99 1.32 1.32 1.09 1.42 1.42 Debt to Equity
-- -- -- 403 539 462 487 534 607 584 691 479 574 609 483 525 525 PensionAndRetirementBenefit
108 145 69.00 94.00 19.00 29.00 14.00 18.00 25.00 34.00 31.00 33.00 39.00 27.00 22.00 13.00 13.00 Minority Interest
1,099 1,291 1,898 734 735 606 842 986 1,441 2,182 1,545 944 741 835 841 808 808 Other Long-Term Liabilities
11,824 8,531 9,415 6,175 6,641 7,781 7,910 10,461 11,620 15,608 15,867 21,447 17,552 16,736 16,438 17,352 17,352 Total Liabilities
1,146 2,634 2,650 2,657 2,666 2,669 2,674 2,683 2,682 2,680 2,679 2,677 2,674 2,673 2,671 2,669 2,669 Common Stock
871 2,975 5,051 8,202 10,041 10,863 12,371 14,880 17,182 18,842 21,809 20,524 14,141 12,668 13,739 11,989 11,989 Retained Earnings
2,115 -364 -437 -104 -215 -213 -240 -273 -309 -307 -399 -363 -454 -469 -355 -362 -362 Accumulated other comprehensive
income (loss)
277 1,501 1,689 1,741 484 411 339 455 486 415 309 274 201 207 211 143 143 Additional Paid-In Capital
-477 -374 -1,577 -5,630 -5,251 -5,002 -4,771 -4,547 -4,276 -8,049 -8,131 -7,650 -7,153 -6,757 -6,744 -6,427 -6,427 Treasury Stock
3,932 6,372 7,376 6,866 7,725 8,728 10,373 13,198 15,765 13,581 16,267 15,462 9,409 8,322 9,522 8,012 8,012 Total Equity
0.25 0.42 0.44 0.52 0.54 0.53 0.57 0.56 0.58 0.47 0.51 0.42 0.35 0.33 0.37 0.32 0.32 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAL 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-979 2,358 2,348 2,524 2,638 1,164 1,802 -5,769 2,645 2,135 3,501 -667 -5,769 -468 1,657 -1,129 -1,129 Net Income
-979 2,358 2,348 2,524 2,638 1,164 1,802 -5,769 2,645 2,135 3,501 -667 -5,769 -468 1,657 -1,129 -1,129 Net Income From Continuing
Operations
509 448 480 583 738 931 1,119 1,503 1,628 1,900 2,126 1,835 1,503 1,556 1,606 1,625 1,625 Depreciation, Depletion and
Amortization
13.00 -570 -494 -326 -670 869 -902 899 -682 -449 -1,381 1,468 899 -1,350 -186 636 636 Change In Receivables
-22.00 -151 -309 -218 -368 232 -331 552 -611 -107 -271 153 552 -29.00 -681 -202 -202 Change In Inventory
428 102 96.00 77.00 161 -118 330 -219 200 327 489 -603 -219 753 483 -595 -595 Change In Payables And Accrued
Expense
430 -658 -782 -220 -956 454 -903 1,232 -1,093 -229 -1,163 1,018 1,232 -626 -384 -161 -161 Change In Working Capital
-176 -243 658 -140 254 274 124 -1,071 165 -132 -454 -224 -1,501 734 -267 -396 -- Change In DeferredTax
-- -- -- -- -- -- -- -- 217 -- 298 -- -- -- -- -- -- Stock Based Compensation
1,144 -1,163 813 -52.00 -- -417 70.00 -682 92.00 773 -347 -929 -525 625 280 144 -252 Cash Flow from Others
928 701 3,657 2,726 2,674 2,406 2,212 -1,703 3,654 4,447 4,062 2,906 -1,703 2,468 3,157 2,445 2,445 Cash Flow from Operations
-575 -575 -834 -1,583 -1,824 -1,864 -2,069 -798 -3,566 -2,934 -3,283 -2,184 -798 -1,373 -2,026 -1,530 -1,530 Purchase Of Property, Plant,
Equipment
293 318 250 203 191 203 227 222 395 241 338 168 222 158 218 190 190 Sale Of Property, Plant, Equipment
-- -- -- -1,461 -652 -55.00 -523 -31.00 -214 -94.00 -231 -39.00 -31.00 -628 -187 -33.00 -- Purchase Of Business
-- -- -- 70.00 81.00 -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Business
-180 891 -20.00 -332 -- -1,620 -1,282 -501 -506 -329 -183 -109 -92.00 -109 -423 -- -- Purchase Of Investment
111 907 10.00 18.00 429 300 1,925 1,001 258 356 444 106 96.00 98.00 527 -- -- Sale Of Investment
-- 19.00 225 -13.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-55.00 -1,050 -57.00 -563 -81.00 -49.00 -33.00 -603 -55.00 -110 -223 -134 -107 -73.00 -102 -72.00 -105 Cash From Other Investing Activities
-406 510 -426 -3,661 -1,856 -3,085 -1,755 -710 -3,688 -2,870 -3,138 -2,192 -710 -1,927 -1,993 -1,445 -1,445 Cash Flow from Investing
63.00 342 159 110 -- -- -- 186 -- -- 332 167 186 158 195 118 -- Issuance of Stock
-7.00 -12.00 -1,339 -1,374 -507 -17.00 -141 -43.00 -- -4,356 -800 -- -- -- -400 -100.00 -- Repurchase of Stock
469 -771 -337 -7.00 -861 1,944 -790 -3,097 -- 2,968 -4.00 7,432 -3,171 -1,641 -445 -13.00 -- Net Issuance of Debt
-221 -254 -306 -314 -319 -324 -327 -620 -333 -465 -533 -614 -620 -626 -630 -630 -630 Cash Flow for Dividends
-21.00 -25.00 543 125 164 67.00 144 -9.00 161 99.00 -25.00 96.00 65.00 -52.00 -139 -70.00 -65.00 Other Financing
283 -720 -1,280 -1,570 -1,523 1,670 -1,114 -3,540 -172 -1,754 -1,030 7,081 -3,540 -2,161 -1,419 -695 -695 Cash Flow from Financing
813 474 1,988 -2,532 -723 958 -684 -6,068 -214 -128 -65.00 7,786 -6,068 -1,672 -329 260 260 Net Change in Cash
-575 -575 -834 -2,146 -1,824 -1,864 -2,069 -798 -3,566 -2,934 -3,283 -2,184 -798 -1,373 -2,026 -1,530 -1,530 Capital Expenditure
353 126 2,823 580 850 542 143 -2,501 88.00 1,513 779 722 -2,501 1,095 1,131 915 915 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAL 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- 13.65 13.92 10.22 7.45 23.69 20.21 11.20 12.21 21.23 9.57 -- -- -- 14.06 -- -- PE Ratio(TTM)
-- 24.32 14.88 11.86 13.46 22.01 68.74 7.72 22.50 23.41 14.38 -- -- -- 19.03 -- -- Price to Owner Earnings
(TTM)
4.41 5.00 4.20 4.86 2.11 3.11 3.58 2.41 2.04 3.17 2.05 1.88 4.98 5.13 2.43 2.68 1.73 Price to Book
5.53 5.68 4.50 5.49 2.45 3.56 4.10 2.78 2.36 3.78 2.39 2.23 6.70 7.58 3.46 4.13 2.68 Price to Tangible Book
49.17 352 11.51 62.05 19.30 50.15 262 -- 381 29.02 42.94 40.24 -- 39.03 20.62 23.53 15.26 Price-to-Free-Cash-Flow
Ratio
18.63 48.26 8.89 13.05 6.16 11.29 16.83 -- 8.82 10.11 8.25 10.00 -- 17.28 7.39 8.78 5.69 Price-to-Operating-Cash-
Flow Ratio
0.87 3.13 2.52 2.35 0.90 1.85 2.07 1.28 1.13 1.55 1.02 1.23 2.93 2.06 0.97 0.96 0.62 PS Ratio
64.88 1.03 0.50 0.29 0.18 1.12 3.03 2.04 1.31 1.53 0.51 -- -- -- -- -- -- PEG Ratio
0.94 3.24 2.39 2.23 0.97 1.93 2.17 1.37 1.21 1.65 1.18 1.46 3.48 2.49 1.31 1.36 1.03 EV-to-Revenue
14.60 12.55 8.30 8.10 3.75 9.77 9.51 5.45 5.68 8.05 5.37 8.29 5.85 14.34 6.82 8.12 6.11 EV-to-EBITDA
24.31 15.15 9.53 9.41 4.44 14.38 13.09 7.19 7.75 11.74 7.61 14.84 6.95 25.38 10.46 14.28 10.77 EV-to-EBIT
4.11 6.60 10.49 10.63 22.52 6.95 7.64 13.91 12.90 8.52 13.14 6.74 14.39 3.94 9.56 7.00 9.28 Return on Capital %
2.67 14.41 21.83 21.38 24.51 22.98 9.53 5.57 8.95 14.17 19.42 5.80 -7.56 1.23 -3.43 -6.08 -5.53 Forward Rate of Return
172 105 69.88 52.59 18.88 28.63 34.01 24.29 18.48 22.34 13.97 13.67 33.85 42.43 24.66 29.85 19.35 Shiller PE Ratio
1.28 0.81 0.97 0.91 1.98 1.20 0.88 1.04 1.04 1.03 1.60 2.12 1.33 1.47 2.71 2.94 4.54 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17,344 31,847 30,988 33,367 16,311 27,141 37,155 31,784 32,227 43,087 33,352 29,138 46,842 42,664 23,151 21,480 13,955 Market Cap
18,599 32,775 30,928 34,012 17,818 28,350 38,942 33,924 34,588 48,581 38,871 34,440 55,256 51,296 31,513 30,574 23,049 Enterprise Value
19.62 30.98 31.05 37.91 18.18 30.09 40.83 34.51 34.69 50.75 39.33 34.04 54.09 48.87 26.58 24.47 15.86 Month End Stock Price
-10.32 -6.11 -6.56 -4.58 -6.17 -4.90 -6.45 -8.45 -9.86 -15.65 -16.05 -13.32 -15.68 -16.52 -16.59 -17.20 -17.20 Net Cash (per share)
-2.15 0.69 1.71 1.48 0.84 0.92 1.06 1.19 1.55 -2.28 -1.48 -1.65 -6.83 -6.86 -6.10 -7.01 -7.01 Net Current Asset Value
(per share)
-7.44 -2.15 -3.96 -3.75 -5.15 -4.01 -5.39 -2.91 -3.47 -8.24 -7.25 -6.91 -10.97 -10.83 -10.35 -11.50 -11.50 Net-Net Working Capital (per
share)
6.14 7.34 12.36 11.86 16.39 19.23 17.87 18.00 12.75 14.62 16.97 16.13 5.22 10.71 13.72 11.17 11.17 Projected FCF (per share)
18.60 8.84 11.00 17.20 25.93 20.96 25.83 40.84 46.61 52.45 65.33 46.30 29.85 38.31 43.83 39.78 39.78 Median PS (per share)
-11.59 30.04 51.75 66.75 72.75 26.92 13.48 16.92 26.40 33.18 77.21 -4.05 -- -- -- -- -- Peter Lynch Fair Value (per
share)
5.79 16.58 17.93 20.33 22.04 15.61 21.01 30.16 30.29 26.55 38.60 -- -- -- 18.08 -- -- Graham Number (per share)
-1.72 0.44 6.14 9.60 11.89 10.54 8.41 11.02 8.88 2.92 7.26 3.20 -10.55 -44.94 -39.06 -31.46 -31.46 Earnings Power Value
(EPV)
2.56 4.02 4.25 6.62 5.03 4.71 5.69 4.79 4.44 4.27 4.08 2.67 2.41 3.51 3.11 2.52 2.30 Altman Z-Score
6.00 6.00 9.00 6.00 5.00 4.00 7.00 5.00 4.00 4.00 8.00 3.00 2.00 5.00 9.00 2.00 2.00 Piotroski F-Score
-3.13 -0.73 -3.22 -2.88 -2.35 -2.80 -2.36 -1.27 -2.31 -2.71 -2.32 -2.68 -1.35 -2.92 -2.66 -2.68 -2.68 Beneish M-Score
0.34 0.46 0.49 0.45 0.70 0.69 0.74 0.84 0.77 0.70 0.75 0.65 0.48 0.63 0.71 0.66 0.64 Scaled Net Operating
Assets
-9.46 7.62 -5.24 33.76 9.77 11.03 7.53 22.18 9.74 1.88 8.01 -3.75 -12.41 -4.00 1.89 -8.40 -8.40 Sloan Ratio (%)
1.41 2.12 2.36 3.14 2.66 2.99 3.22 2.81 2.75 2.73 2.50 3.76 2.90 2.22 2.32 2.30 2.30 Current Ratio
1.30 1.90 2.10 2.54 2.01 2.44 2.52 2.19 2.08 2.07 1.89 3.20 2.34 1.72 1.69 1.65 1.65 Quick Ratio
20.68 34.70 41.67 41.48 53.91 31.75 41.15 57.27 38.51 56.26 74.02 49.21 55.07 58.21 56.83 32.30 32.30 Highest Stock Price
13.02 18.79 26.57 28.27 13.46 14.78 21.15 28.68 26.70 34.69 37.82 33.40 28.48 38.66 25.14 17.31 15.80 Lowest Stock Price
-0.68 -16.29 2.92 11.81 -1.93 -0.54 -0.89 -1.21 -0.87 8.61 0.12 -0.94 -1.17 -0.81 0.23 -0.78 -0.78 Shares Buyback Ratio (%)
21.09 -56.84 26.32 30.72 25.16 -19.10 21.27 36.50 14.05 6.13 18.36 -28.19 -33.40 28.45 15.44 -6.40 -6.44 YoY Rev. per Sh. Growth
(%)
-17.89 303 -1.76 65.02 -33.42 -48.16 58.27 53.23 -7.79 -16.90 74.15 -119 -747 92.08 457 -168 -168 YoY EPS Growth (%)
1.98 74.24 40.46 25.01 18.38 -38.47 39.25 50.55 -2.77 2.06 26.84 -42.63 -48.80 64.84 20.31 -14.90 -18.39 YoY EBITDA Growth (%)
0.72 13.44 30.09 49.57 34.71 21.20 6.88 5.19 9.53 14.00 19.16 5.19 -6.77 0.22 -5.30 -7.39 -8.10 EBITDA 5-Y Growth (%)
874 1,010 1,014 913 883 900 908 918 926 898 848 853 861 870 875 875 878 Shares Outstanding (Basic
Average)
884 1,028 998 880 897 902 910 921 929 849 848 856 866 873 871 878 878 Shares Outstanding (EOP)
1.42 0.88 1.78 1.55 1.75 1.44 1.47 1.49 1.74 1.80 0.92 1.07 1.08 1.10 1.25 1.84 1.83 Beta
03/01/05 03/13/06 02/28/07 02/22/08 02/18/09 02/17/10 02/17/11 02/16/12 02/11/13 02/07/14 02/24/15 02/05/16 02/07/17 02/09/18 02/13/19 02/11/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAL 6/7
03/13/06 02/28/07 02/22/08 02/18/09 02/17/10 02/17/11 02/11/13 02/07/14 02/24/15 02/05/16 02/07/17 02/09/18 02/13/19 02/11/20 02/11/20 02/11/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAL 7/7
Morgan Stanley (NYSE:MS) 03/03/2020 2:00PM EST GuruFocus
Price: $ 44.26 -2.22(-4.78%) Market Cap: $ 67.82 B Enterprise Value: $222.25 B Stock PDF
Financial Strength : 2/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 8.54
Cash to Debt N/A Net-margin (%) 23.23
Forward P/E N/A
Equity to Asset 0.09 ROE (%) 10.54
F-Score: PE(NRI) 8.54
ROA (%) 1.03
9999 P/B 0.98
M-Score: Revenue Growth (3Y)(%) 8.40
-2.62 P/S 2.00
EPS Growth (3Y)(%) 17.60
PFCF 2.30
POCF 2.15
Shiller P/E 16.15
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Morgan Stanley is a global investment bank whose history, through its legacy firms, can be traced back to 1924. The
company has institutional securities, wealth management, and asset management segments, as well as more than
Good Signs 2016 7,327 8,425 8,418 8,541 32,711 60,000 employees. Approximately half of the company's net revenue is from its institutional securities business, with
2017 9,236 8,978 8,675 8,963 35,852 the other half coming from wealth and asset management. The company derives about 30% of its total revenue
Dividend Yield %: Close to 2018 10,450 10,001 9,313 7,950 37,714
outside the Americas.... (Read More)
10-year high Competitors: NYSE:GS, NYSE:SCHW, SHSE:600030 , ASX:MQG, SHSE:601066 , NAS:AMTD, SHSE:601688 ,
2019 9,693 9,614 9,395 10,224 38,926 NAS:IBKR, NAS:XP, SHSE:601211, SHSE:600837, BSP:BPAC3, SHSE:600999, SZSE:000166, TSE:8604,
PE Ratio: Close to 1-year low 2020 SZSE:000776, SZSE:002736, NYSE:RJF, NAS:MKTX, HKSE:06881
Insider Buy: Insider Buying Quarterly Earnings per Share Insider Trades
Mar Jun Sep Dec Full Year
DCF 2016 0.55 0.75 0.81 0.81 2.92
2017 1.00 0.87 0.93 0.29 3.09
GuruFocus does not 2018 1.45 1.30 1.17 0.80 4.72
calculate intrinsic value: DCF 2019 1.39 1.23 1.27 1.30 5.19
(Earnings Based) for 2020
companies with one star
predictability or not rated. But Quarterly Dividends Per Share
you can go to each stock's Mar Jun Sep Dec Full Year
DCF page to calculate 2016 0.15 0.15 0.20 0.20 0.70
yourself. 2017 0.20 0.20 0.25 0.25 0.90
2018 0.25 0.25 0.30 0.30 1.10
Reverse DCF 2019 0.30 0.30 0.35 0.35 1.30
2020
GuruFocus does not
calculate reverse DCF growth Growth Rate
rate for companies with one Annual Rates(per share) 10-Y 5-Y 12-M
star predictability or not rated.
But you can go to each Revenue Growth (%) -0.60 6.40 10.20
stock's DCF page to calculate EBITDA Growth (%) 0.00 0.00 0.00
yourself. Free Cash Flow Growth (%) 0.00 0.00 103.20
Book Value Growth (%) 3.70 5.40 9.60
EPS Growth (%) 0.00 26.10 53.60
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MS 1/7
Per Share Data
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
22.30 25.59 28.29 26.58 22.58 19.77 21.13 18.26 12.84 15.73 16.47 17.03 17.34 19.69 21.70 23.74 23.75 Revenue per Share
4.06 4.57 7.07 2.98 1.45 -0.77 2.63 1.23 -0.02 1.36 1.60 2.90 2.92 3.07 4.73 5.19 5.19 Earnings per Share (diluted)
3.40 4.19 5.99 2.37 1.54 -0.82 2.45 1.27 0.02 1.38 1.61 2.91 2.92 3.08 4.73 5.19 5.19 eps without NRI
-24.56 -1.84 -61.16 -22.32 63.28 -36.70 24.41 5.81 11.00 16.26 -0.50 -4.26 0.73 -5.51 2.39 -- 18.62 Owner Earnings per Share (TTM)
-22.69 -29.51 -57.64 -22.50 65.73 -41.19 27.93 8.40 12.22 17.22 0.05 -2.99 2.18 -3.37 3.13 23.75 23.53 Free Cashflow per Share
1.00 1.08 1.08 1.08 1.08 0.42 0.20 0.20 0.20 0.20 0.35 0.55 0.70 0.90 1.10 1.30 1.30 Dividends per Share
25.95 27.59 32.67 28.56 29.48 27.26 31.49 31.42 30.70 32.24 33.26 35.24 36.99 38.52 42.20 45.82 45.82 Book Value per Share
23.92 25.23 29.39 24.71 26.56 18.28 23.95 25.72 25.41 27.16 28.26 30.26 31.97 33.46 36.99 40.01 40.01 Tangible Book per Share
121 450 589 498 184 150 136 97.08 86.98 80.07 79.46 81.22 89.46 108 112 121 121 Total Debt per Share
42.13 46.51 63.22 52.72 14.75 29.60 27.21 15.13 19.12 31.36 38.80 31.81 42.25 52.47 39.65 -- 44.26 Month End Stock Price
Ratios
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.91 17.21 23.09 9.43 3.87 -1.86 6.92 3.47 -0.05 4.15 4.61 7.76 7.28 7.28 10.43 10.52 10.47 Return on Equity %
0.66 0.60 0.74 0.30 0.20 0.19 0.60 0.53 0.01 0.36 0.42 0.77 0.75 0.73 1.03 1.03 1.02 Return on Assets %
11.14 10.90 10.22 9.05 6.60 3.28 3.68 3.51 4.30 6.36 5.87 4.16 4.64 5.62 5.41 -- 5.08 Weighted Average Cost Of Capital (WACC) %
13.04 8.04 7.48 10.02 10.36 3.34 3.13 3.50 3.29 2.71 2.37 1.76 2.06 3.18 5.28 6.49 6.43 Effective Interest Rate on Debt %
18.21 17.86 25.04 11.45 6.90 5.74 15.77 13.43 0.28 9.53 10.68 18.42 18.28 17.05 23.20 23.23 23.23 Net Margin %
-102 -115 -204 -84.63 291 -208 132 46.02 95.15 109 0.29 -17.55 12.56 -17.11 14.42 100 -- FCF Margin %
4.67 16.32 17.46 16.83 3.90 4.37 3.60 3.02 2.77 2.36 2.19 2.07 2.18 2.49 2.36 2.36 2.36 Debt to Equity
0.04 0.03 0.03 0.03 0.08 0.06 0.07 0.08 0.08 0.08 0.09 0.10 0.09 0.09 0.09 0.09 0.09 Total Equity to Total Asset
0.18 0.53 0.55 0.50 0.30 0.26 0.26 0.25 0.22 0.19 0.19 0.20 0.20 0.23 0.22 0.22 0.22 Total Debt to Total Asset
3.65 3.36 2.95 2.59 2.90 3.28 3.78 3.93 3.22 3.82 3.97 4.19 4.08 4.30 4.42 4.45 4.40 Gross Profit to Total Asset %
0.04 0.03 0.03 0.03 0.03 0.03 0.04 0.04 0.03 0.04 0.04 0.04 0.04 0.04 0.04 0.05 0.04 Asset Turnover
0.29 0.26 0.18 0.46 0.70 -- 0.08 0.16 10.00 0.15 0.22 0.19 0.24 0.29 0.23 0.25 0.25 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MS 2/7
Income Statement
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
24,634 27,656 29,839 28,026 24,739 23,434 29,814 30,594 24,643 30,782 32,469 33,263 32,711 35,852 37,714 38,926 38,926 Revenue
24,634 27,656 29,839 28,026 24,739 23,434 29,814 30,594 24,643 30,782 32,469 33,263 32,711 35,852 37,714 38,926 38,926 Gross Profit
10,976 12,475 14,629 17,365 13,082 16,307 18,082 18,727 18,128 18,683 20,117 18,464 18,252 19,566 20,339 21,691 21,691 Selling, General, & Admin. Expense
13,658 15,181 15,210 10,661 11,657 7,127 11,732 11,867 6,515 12,099 12,352 14,799 14,459 16,286 17,375 17,235 17,235 Other Operating Expense
18,584 28,175 42,776 60,083 40,725 7,477 7,305 7,234 5,692 5,209 5,413 5,835 7,016 8,997 13,892 17,098 17,098 Interest Income
-14,707 -24,425 -40,897 -57,302 -37,523 -6,705 -6,407 -6,883 -5,897 -4,431 -3,678 -2,742 -3,318 -5,697 -10,086 -12,404 -12,404 Interest Expense
3,877 3,750 1,879 2,781 3,202 772 898 351 -205 778 1,735 3,093 3,698 3,300 3,806 4,694 4,694 Net Interest Income
6,445 7,050 9,063 3,394 2,287 983 6,198 6,110 596 4,558 3,591 8,495 8,848 10,403 11,237 11,301 11,301 Other Income (Expense)
-45.00 -- -- -- -- -60.00 -999 -535 -648 -681 -200 -152 -144 -105 -135 -195 -195 Other Income (Minority Interest)
6,445 7,050 9,063 3,394 2,287 983 6,198 6,110 596 4,558 3,591 8,495 8,848 10,403 11,237 11,301 11,301 Pre-Tax Income
-1,856 -1,858 -2,728 -831 -480 341 -743 -1,414 161 -902 90.00 -2,200 -2,726 -4,168 -2,350 -2,064 -2,064 Tax Provision
28.80 26.35 30.10 24.48 20.99 -34.69 11.99 23.14 -27.01 19.79 -2.51 25.90 30.81 40.07 20.91 18.26 18.26 Tax Rate %
4,589 5,192 6,335 2,563 1,807 1,324 5,455 4,696 757 3,656 3,681 6,295 6,122 6,235 8,887 9,237 9,237 Net Income (Continuing Operations)
-103 -302 1,137 646 -100.00 82.00 247 -51.00 -41.00 -43.00 -14.00 -16.00 1.00 -19.00 -4.00 -- 1.00 Net Income (Discontinued
Operations)
4,486 4,939 7,472 3,209 1,707 1,346 4,703 4,110 68.00 2,932 3,467 6,127 5,979 6,111 8,748 9,042 9,042 Net Income
18.21 17.86 25.04 11.45 6.90 5.74 15.77 13.43 0.28 9.53 10.68 18.42 18.28 17.05 23.20 23.23 23.23 Net Margin %
-- -- 19.00 68.00 119 -- -- 2,043 98.00 277 315 456 471 523 526 530 530 Preferred dividends
4.15 4.70 7.38 3.13 1.54 -0.77 2.64 1.25 -0.02 1.39 1.64 2.97 2.98 3.14 4.81 5.26 5.26 EPS (Basic)
4.06 4.57 7.07 2.98 1.45 -0.77 2.63 1.23 -0.02 1.36 1.60 2.90 2.92 3.07 4.73 5.19 5.19 EPS (Diluted)
1,105 1,081 1,055 1,054 1,096 1,185 1,411 1,675 1,919 1,957 1,971 1,953 1,887 1,821 1,738 1,640 1,602 Shares Outstanding (Diluted
Average)
805 815 876 475 794 1,224 1,419 1,404 1,581 1,511 1,161 1,433 1,736 1,753 1,844 2,643 2,643 Depreciation, Depletion and
Amortization
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MS 3/7
Balance Sheet
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
32,811 69,544 20,606 25,598 78,654 55,703 66,795 76,766 77,874 99,086 87,591 54,083 43,381 46,164 51,840 49,659 49,659 Cash And Cash Equivalents
-- -- -- -- -- -- -- 30,495 39,869 53,430 69,316 71,983 80,092 -- -- -- -- Marketable Securities
32,811 69,544 20,606 25,598 78,654 55,703 66,795 107,261 117,743 152,516 156,907 126,066 123,473 46,164 51,840 49,659 49,659 Cash, Cash Equivalents,
Marketable Securities
-- -- -- -- -- 44,477 54,150 43,421 64,288 57,104 48,961 45,407 46,460 56,187 53,298 55,646 55,646 Accounts Receivable
51,319 80,711 37,176 49,929 92,947 100,180 120,945 155,930 182,031 209,620 205,868 171,473 169,933 102,351 105,138 105,305 105,305 Total Current Assets
487,535 304,172 442,598 461,716 286,851 268,105 307,052 274,267 326,749 359,768 351,788 311,488 342,246 377,084 358,131 402,835 402,835 Investments And Advances
2,605 2,733 4,086 4,372 5,057 10,801 10,630 11,309 11,471 12,439 12,327 -- -- -- -- -- -- Gross Property, Plant and
Equipment
-- -- -- -- -- -3,734 -4,476 -4,852 -5,525 -6,420 -6,219 -- -- -- -- -- -- Accumulated Depreciation
2,605 2,733 4,086 4,372 5,057 7,067 6,154 6,457 5,946 6,019 6,108 -- -- -- -- -- -- Property, Plant and Equipment
2,199 2,500 3,443 4,071 3,138 12,216 11,406 10,971 10,433 9,881 9,747 9,568 9,298 9,045 8,851 9,250 9,250 Intangible Assets
-- -- -- -- -- 7,162 6,739 6,686 6,650 6,595 6,588 6,584 6,577 6,597 6,688 7,143 7,143 Goodwill
203,676 508,407 633,889 525,321 270,819 383,894 362,141 302,273 255,801 247,414 227,999 294,936 293,472 363,253 381,411 378,039 378,039 Other Long Term Assets
747,334 898,523 1,121,192 1,045,409 658,812 771,462 807,698 749,898 780,960 832,702 801,510 787,465 814,949 851,733 853,531 895,429 895,429 Total Assets
-- -- 4,746 1,724 2,584 2,597 2,572 123,615 127,722 157,125 181,069 186,626 190,513 191,510 179,559 197,834 197,834 Accounts Payable
123,271 120,373 147,288 215,631 120,950 145,927 129,184 123,615 127,722 157,125 181,069 186,626 190,513 191,510 179,559 197,834 197,834 Accounts Payable & Accrued
Expense
36,303 342,131 472,612 335,530 34,665 2,378 3,256 2,843 2,138 2,142 2,261 2,173 941 1,519 1,545 2,567 2,567 Current Portion of Long-Term
Debt
159,574 462,504 619,900 551,161 155,615 148,305 132,440 126,458 129,860 159,267 183,330 188,799 191,454 193,029 181,104 200,401 200,401 Total Current Liabilities
95,286 133,999 144,978 190,624 163,437 201,476 202,910 184,234 169,571 153,575 152,772 153,768 164,775 191,063 188,117 190,060 190,060 Long-Term Debt
95,286 133,999 144,978 190,624 163,437 201,476 202,910 184,234 169,571 153,575 152,772 153,768 164,775 191,063 188,117 190,060 190,060 Long-Term Debt & Capital
Lease Obligation
4.67 16.32 17.46 16.83 3.90 4.37 3.60 3.02 2.77 2.36 2.19 2.07 2.18 2.49 2.36 2.36 2.36 Debt to Equity
-- -- -- -- -- 6,092 8,196 8,029 3,319 3,109 1,204 1,002 1,127 1,075 1,160 1,148 1,148 Minority Interest
464,268 272,838 320,950 272,355 288,929 368,901 406,941 369,128 416,101 450,830 393,304 368,714 381,543 389,175 402,904 422,271 422,271 Other Long-Term Liabilities
719,128 869,341 1,085,828 1,014,140 607,981 718,682 742,291 679,820 715,532 763,672 729,406 711,281 737,772 773,267 772,125 812,732 812,732 Total Liabilities
12.00 12.00 12.00 12.00 12.00 15.00 16.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 Common Stock
-- -- 1,100 1,100 19,155 9,597 9,597 1,508 1,508 3,220 6,020 7,520 7,520 8,520 Preferred Stock
8,520 8,520 8,520
31,426 35,185 41,422 38,045 38,096 35,056 38,603 40,341 39,912 42,172 44,625 49,204 53,679 57,577 64,175 70,589 70,589 Retained Earnings
1,294 -190 -35.00 -199 -125 -560 -467 -157 -516 -1,093 -1,248 -1,656 -2,643 -3,060 -2,292 -2,788 -2,788 Accumulated other
comprehensive income (loss)
2,088 2,389 2,213 1,902 1,619 8,619 13,521 22,836 23,426 24,570 24,249 24,153 23,271 23,545 23,794 23,935 23,935 Additional Paid-In Capital
-6,614 -8,214 -9,348 -9,591 -7,926 -6,039 -4,059 -2,499 -2,241 -2,968 -2,766 -4,059 -5,797 -9,211 -13,971 -18,727 -18,727 Treasury Stock
28,206 29,182 35,364 31,269 50,831 46,688 57,211 62,049 62,109 65,921 70,900 75,182 76,050 77,391 80,246 81,549 81,549 Total Equity
0.04 0.03 0.03 0.03 0.08 0.06 0.07 0.08 0.08 0.08 0.09 0.10 0.09 0.09 0.09 0.09 0.09 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MS 4/7
Cashflow Statement
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,486 4,939 7,472 3,209 1,707 1,406 5,702 4,645 716 3,613 3,667 6,279 6,123 6,216 8,883 9,237 9,237 Net Income
4,486 4,939 7,472 3,209 1,707 1,406 5,702 4,645 716 3,613 3,667 6,279 6,123 6,216 8,883 9,237 9,237 Net Income From Continuing
Operations
805 815 876 475 794 1,224 1,419 1,404 1,581 1,511 1,161 1,433 1,736 1,753 1,844 2,643 2,643 Depreciation, Depletion and
Amortization
-- -- -- -- -- -2,445 -6,492 5,899 -10,030 6,774 2,204 -434 -371 -9,315 -728 233 233 Change In Receivables
-- -- -- -- -- 818 697 -6,985 -1,283 26,697 27,971 4,633 1,913 2,007 -13,063 19,942 19,942 Change In Payables And Accrued
Expense
-31,320 -6,884 -72,106 -26,537 73,508 -48,640 32,377 6,877 21,983 28,868 -4,637 -14,784 -5,233 -16,429 -4,975 27,608 27,608 Change In Working Capital
-195 -1,076 111 -2,046 -1,224 -932 -129 413 -639 -117 -231 1,189 1,579 2,747 449 165 -- Change In DeferredTax
-- -- -- -- -- 1,265 1,260 1,300 891 1,180 1,260 1,104 1,136 1,026 920 1,153 1,153 Stock Based Compensation
1,718 -29,146 2,844 2,650 -1,368 -1,097 -216 584 227 -46.00 -134 316 42.00 182 184 -33.00 132 Cash Flow from Others
-24,506 -31,352 -60,803 -22,249 73,417 -45,951 40,614 15,382 24,759 35,009 1,086 -4,463 5,383 -4,505 7,305 40,773 40,773 Cash Flow from Operations
-569 -540 -- -1,469 -1,400 -2,877 -1,201 -1,304 -1,312 -1,316 -992 -1,373 -1,276 -1,629 -1,865 -1,826 -1,826 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -2,160 -1,042 -129 -- -- -- -- -- -- -- -- -- Purchase Of Business
-- -- -- -- -- 565 1,829 -- 1,725 1,147 989 998 -- -- -- -- -- Sale Of Business
-- -- -- -14,073 -- -- -29,989 -20,601 -24,477 -30,557 -32,623 -47,291 -50,911 -23,962 -27,800 -42,586 -42,586 Purchase Of Investment
-- -- -- 4,272 -- -- 999 19,998 15,136 16,182 17,631 43,589 42,083 25,576 15,876 29,163 29,163 Sale Of Investment
-2,527 -3,581 -- -168 2,129 -- -60.00 -8,698 -3,697 -9,917 -20,329 -15,918 -9,404 -12,376 -9,092 -18,312 -18,312 Cash From Other Investing Activities
-3,096 -4,121 -2,345 -11,438 729 -4,472 -29,464 -10,734 -12,625 -24,461 -35,324 -19,995 -19,508 -12,391 -22,881 -33,561 -33,561 Cash Flow from Investing
-- -- -- -- -- 6,255 5,581 -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-810 -3,366 -2,733 -3,330 -1,431 -50.00 -317 -317 -227 -691 -1,458 -2,773 -3,933 -4,292 -5,566 -5,954 -5,954 Repurchase of Stock
-- -- 1,097 -- -- -10,950 -- -- -- 1,696 2,782 1,493 -- 994 -- 497 -- Net Issuance of Preferred Stock
31,689 31,381 24,784 25,463 -28,471 -1,376 -379 -6,920 -20,151 -10,799 3,756 6,805 12,030 19,591 5,278 -9,943 -9,943 Net Issuance of Debt
-1,096 -1,180 -1,167 -1,219 -1,227 -1,732 -1,156 -834 -469 -475 -904 -1,455 -1,746 -2,085 -2,375 -2,627 -2,627 Cash Flow for Dividends
938 5,241 32,359 17,171 12,585 10,877 434 2,923 8,950 12,902 18,967 20,084 1,012 2,053 26,868 6,061 6,558 Other Financing
30,721 32,076 54,340 38,085 -18,544 3,024 4,163 -5,148 -11,897 2,633 23,143 24,154 7,363 16,261 24,205 -11,966 -11,966 Cash Flow from Financing
3,119 -3,397 -8,808 4,992 53,056 -46,679 15,327 -814 118 12,979 -12,899 -2,039 -8,192 3,035 6,801 -5,025 -5,025 Net Change in Cash
-569 -540 -- -1,469 -1,400 -2,877 -1,201 -1,304 -1,312 -1,316 -992 -1,373 -1,276 -1,629 -1,865 -1,826 -1,826 Capital Expenditure
-25,075 -31,892 -60,803 -23,718 72,017 -48,828 39,413 14,078 23,447 33,693 94.00 -5,836 4,107 -6,134 5,440 38,947 38,947 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MS 5/7
Valuation Ratios
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
10.38 10.20 8.95 18.83 10.31 -- 11.20 14.41 -- 22.24 13.11 10.97 14.47 16.98 8.40 -- 8.54 PE Ratio(TTM)
-- -- -- -- 0.23 -- 1.11 2.61 1.74 1.93 -- -- 58.12 -- 16.56 -- 2.38 Price to Owner Earnings
(TTM)
1.62 1.69 1.94 1.85 0.50 1.09 0.86 0.48 0.62 0.97 1.17 0.90 1.14 1.36 0.94 -- 0.98 Price to Book
1.76 1.84 2.15 2.13 0.56 1.62 1.14 0.59 0.75 1.15 1.37 1.05 1.32 1.57 1.07 -- 1.11 Price to Tangible Book
-- -- -- -- 0.24 -- 1.13 2.27 1.55 1.82 69.53 -- 20.50 -- 13.18 -- 2.30 Price-to-Free-Cash-Flow
Ratio
-- -- -- -- 0.24 -- 1.10 2.03 1.47 1.75 69.53 -- 15.44 -- 9.71 -- 2.15 Price-to-Operating-Cash-
Flow Ratio
1.90 1.82 2.06 1.90 0.64 1.54 1.45 0.80 1.49 1.99 2.36 1.87 2.44 2.67 1.83 -- 2.00 PS Ratio
-- 3.17 0.52 1.09 -- -- -- -- -- -- -- -- 0.68 0.56 -- -- -- PEG Ratio
5.89 16.52 20.46 19.07 6.24 8.72 6.65 3.87 3.92 2.29 2.50 2.99 3.95 6.97 5.70 -- 5.71 EV-to-Revenue
20.20 57.95 60.40 131 50.13 94.28 26.03 19.83 62.66 20.48 31.64 17.27 19.86 20.68 -- -- -- EV-to-EBITDA
-40.39 -30.67 -10.58 -29.77 -113 -43.21 -27.20 10.41 17.51 37.56 23.70 27.20 34.19 25.20 -- -- -- Forward Rate of Return
13.06 12.70 14.88 11.77 3.43 7.90 7.88 4.65 6.46 11.42 15.31 13.85 23.60 29.03 18.41 -- 16.15 Shiller PE Ratio
2.37 2.32 1.71 2.05 7.32 1.42 0.74 1.32 1.05 0.64 0.90 1.73 1.66 1.72 2.77 2.54 3.03 Dividend Yield %
Valuation and Quality
Nov04 Nov05 Nov06 Nov07 Nov08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
45,799 49,193 66,310 55,688 15,849 40,274 41,142 29,155 37,744 60,991 75,698 61,076 78,267 93,821 67,398 -- 67,824 Market Cap
144,577 455,779 664,394 557,344 154,452 204,114 198,306 118,508 96,537 70,521 81,048 99,473 129,157 249,834 214,900 -- 222,254 Enterprise Value
42.13 46.51 63.22 52.72 14.75 29.60 27.21 15.13 19.12 31.36 38.80 31.81 42.25 52.47 39.65 -- 44.26 Month End Stock Price
-631 -756 -1,016 -936 -493 -492 -452 -301 -305 -316 -294 -305 -332 -407 -424 -479 -479 Net Cash (per share)
-631 -756 -1,017 -937 -510 -474 -432 -285 -281 -295 -278 -292 -317 -388 -406 -459 -459 Net-Net Working Capital
(per share)
-109 -111 -226 -195 -56.06 -116 -25.99 19.71 84.46 135 79.30 118 93.22 82.21 68.60 -- -- Projected FCF (per share)
47.42 54.81 66.36 59.55 47.30 38.00 36.03 34.75 23.04 28.22 29.64 30.53 30.09 35.25 40.99 -- 42.79 Median PS (per share)
102 27.74 121 48.24 17.59 -- -- -- -- -- -- -- 62.42 77.00 -- -- -- Peter Lynch Fair Value (per
share)
42.78 48.77 62.93 36.30 30.34 -- 36.33 27.11 3.38 29.04 32.00 44.51 45.83 48.15 62.74 68.36 68.34 Graham Number (per share)
-98.98 -384 -573 -481 -109 -126 -103 -50.40 -33.23 -7.51 -3.35 -19.89 -28.03 -87.98 -89.35 -- -98.08 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 -- 9,999 Piotroski F-Score
-2.32 -2.50 -1.99 -2.43 -3.07 -2.28 -2.47 -2.76 -2.07 -2.67 -2.60 -2.55 -2.45 -2.20 -2.50 -- -2.62 Beneish M-Score
0.21 0.58 0.70 0.47 0.16 0.31 0.27 0.22 0.21 0.16 0.17 0.22 0.25 0.28 0.26 0.26 0.25 Scaled Net Operating
Assets
4.29 4.50 6.30 3.53 -11.00 6.71 -0.80 -0.07 -1.55 -0.91 4.70 3.88 2.47 2.70 2.85 0.20 0.20 Sloan Ratio (%)
51.65 50.07 65.84 74.13 55.00 35.74 32.92 30.99 21.17 31.62 39.00 40.54 43.73 53.85 58.91 -- 57.57 Highest Stock Price
38.85 40.03 45.86 47.95 9.20 13.10 22.83 12.47 12.36 19.12 28.47 31.01 21.69 40.69 37.01 -- 38.76 Lowest Stock Price
-0.22 2.71 0.83 -0.71 -1.72 -26.63 -11.13 -27.44 -2.44 1.48 -0.31 1.59 3.52 3.48 4.94 6.23 6.23 Shares Buyback Ratio (%)
10.76 14.78 10.55 -6.03 -15.07 -12.44 6.86 -13.56 -29.67 22.50 4.70 3.39 1.78 13.57 10.22 9.38 9.54 YoY Rev. per Sh. Growth
(%)
17.68 12.56 54.70 -57.85 -51.34 -153 442 -53.23 -102 6,900 17.65 81.25 0.69 5.14 54.07 9.73 9.96 YoY EPS Growth (%)
-7.39 3.50 18.35 19.85 -26.96 -23.60 -25.04 -19.88 -22.29 -6.46 -7.53 -1.34 21.45 30.14 -- -- -- EBITDA 5-Y Growth (%)
1,081 1,051 1,010 1,002 1,028 1,185 1,362 1,655 1,886 1,906 1,924 1,909 1,849 1,780 1,708 1,617 1,573 Shares Outstanding (Basic
Average)
1,087 1,058 1,049 1,056 1,075 1,361 1,512 1,927 1,974 1,945 1,951 1,920 1,852 1,788 1,700 1,594 1,532 Shares Outstanding (EOP)
1.71 1.37 1.17 1.80 2.06 1.28 1.23 1.18 2.18 2.88 2.22 1.55 1.46 1.64 1.25 1.29 1.29 Beta
02/11/05 02/13/06 02/13/07 01/29/08 01/29/09 02/26/10 02/28/11 02/27/12 02/26/13 02/25/14 03/02/15 02/23/16 02/27/17 02/27/18 02/26/19 02/27/20 Filing Date
02/13/06 02/13/07 01/29/08 01/29/09 01/29/09 02/28/11 02/26/13 02/25/14 03/02/15 02/23/16 02/27/17 02/27/18 02/26/19 02/27/20 02/27/20 02/27/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MS 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MS 7/7
Stryker Corp (NYSE:SYK) 03/03/2020 2:01PM EST GuruFocus
Price: $ 187.89 -9.33(-4.73%) Market Cap: $ 70.38 B Enterprise Value: $77.04 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 34.28
Cash to Debt 0.40 Operating margin (%) 19.52
Forward P/E N/A
Equity to Asset 0.43 Net-margin (%) 13.99
PE(NRI) 34.28
Interest Coverage N/A ROE (%) 17.22
F-Score:
P/B 5.51
ROA (%) 7.64
4 P/S 4.79
Z-Score: ROC (Joel Greenblatt) (%) 53.78
4.15 PFCF 46.30
Revenue Growth (3Y)(%) 9.40
M-Score: POCF 32.58
-2.23 EBITDA Growth (3Y)(%) 8.40
EV-to-EBIT 26.53
WACC vs 6.03% EPS Growth (3Y)(%) 8.00
ROIC 12.69% PEG 3.96
WACC
ROIC Shiller P/E 44.27
Current Ratio 2.58
Quick Ratio 1.84
Days Inventory 221.87
Days Sales Outstanding 70.94
Warning Signs Quarterly Revenues Company Description
Long-Term Debt: Issuing new Mar Jun Sep Dec Full Year Stryker designs, manufactures, and markets an array of medical equipment, instruments, consumable supplies, and
implantable devices. The product portfolio includes hip and knee replacements, endoscopy systems, operating room
debt 2016 2,495 2,840 2,833 3,157 11,325 equipment, embolic coils, and spinal devices. Stryker remains one of the three largest competitors in reconstructive
2017 2,955 3,012 3,006 3,471 12,444 orthopedic implants and holds the leadership position in operating room equipment. Approximately 35% of Stryker's
total revenue currently comes from outside the United States.... (Read More)
2018 3,241 3,322 3,242 3,796 13,601
Good Signs Competitors: NYSE:BSX, NYSE:EW, SZSE:300760 , NYSE:ZBH, LSE:SN., NAS:ALGN, NYSE:MDT,
2019 3,516 3,650 3,587 4,131 14,884 NYSE:ABT, NAS:PODD, NYSE:BIO, SZSE:300003, ASX:COH, NAS:BRKR, NAS:ABMD, OCSE:GN, NYSE:PEN,
Revenue per Share: 2020 HKSE:01066, SZSE:300529, NYSE:GMED, NAS:TNDM
Consistent growth Quarterly Earnings per Share Insider Trades
PB Ratio: Close to 1-year low Mar Jun Sep Dec Full Year
Insider Buy: Insider Buying 2016 1.07 1.00 0.94 1.34 4.35
2017 1.17 1.03 1.14 -0.66 2.68
2018 1.16 1.19 1.55 5.44 9.34
DCF 2019 1.09 1.26 1.23 1.90 5.48
EPS without NRI: $5.48 2020
Growth Rate in the next 10 Quarterly Dividends Per Share
years: 7.40%
Terminal Growth Rate for 10 Mar Jun Sep Dec Full Year
years: 4% 2016 0.38 0.38 0.38 0.43 1.57
Fair Value: $68.34 2017 0.43 0.43 0.43 0.47 1.75
2018 0.47 0.47 0.47 0.52 1.93
2019 0.52 0.52 0.52 0.58 2.14
Reverse DCF 2020
Expected eps Growth Rate: Growth Rate
22.81%
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 8.40 9.70 9.50
EBITDA Growth (%) 6.80 9.10 12.30
Free Cash Flow Growth (%) 1.20 8.30 -24.30
Book Value Growth (%) 6.40 9.10 9.20
EPS Growth (%) 7.40 30.30 -41.30
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYK 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
10.41 11.22 12.51 14.38 16.24 16.83 18.32 21.33 22.60 23.61 25.27 26.11 29.92 32.74 35.76 39.18 39.19 Revenue per Share
2.57 3.00 3.50 4.25 4.69 5.12 5.25 5.25 5.72 5.72 6.23 6.71 7.61 8.19 8.63 9.70 9.70 EBITDA per Share
1.96 2.31 2.71 3.37 3.76 4.16 4.69 4.52 5.00 4.92 5.24 5.66 6.16 6.50 6.73 7.65 7.65 EBIT per Share
1.08 1.57 1.89 2.44 2.78 2.77 3.19 3.45 3.39 2.63 1.34 3.78 4.35 2.68 9.34 5.48 5.48 Earnings per Share (diluted)
1.08 1.54 1.87 2.37 2.78 2.77 3.19 3.45 3.39 2.63 1.34 3.78 4.35 2.68 9.34 5.48 5.48 eps without NRI
0.79 1.42 1.44 2.57 2.23 3.12 3.27 3.02 3.34 2.62 1.42 0.69 3.80 2.41 9.67 3.29 3.29 Owner Earnings per Share (TTM)
0.91 1.39 1.60 2.02 2.47 3.33 3.42 3.10 3.78 4.43 4.05 1.87 3.77 2.53 5.36 4.06 4.06 Free Cashflow per Share
0.09 0.11 0.22 0.33 0.40 0.15 0.63 0.75 0.90 1.10 1.26 1.42 1.57 1.75 1.93 2.14 2.14 Dividends per Share
6.84 8.15 10.28 13.09 13.64 16.58 18.34 20.17 22.62 23.93 22.74 22.82 25.47 26.62 31.33 34.20 34.20 Book Value per Share
4.44 5.87 8.03 10.84 11.28 12.58 13.81 10.94 13.24 8.50 6.33 6.92 -0.84 -1.81 -2.66 -1.31 -1.31 Tangible Book per Share
0.03 0.57 0.04 0.04 0.05 0.05 2.61 4.64 4.64 7.31 10.51 10.72 18.44 19.29 26.33 29.61 29.61 Total Debt per Share
48.25 44.43 55.11 74.72 39.95 50.37 53.70 49.71 54.82 75.14 94.33 92.94 120 155 157 210 188 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17.93 21.27 20.76 21.26 21.28 18.45 18.49 18.11 15.95 11.40 5.84 16.82 18.24 10.45 32.75 16.98 17.22 Return on Equity %
12.15 14.18 14.31 15.38 15.35 13.28 12.75 11.67 10.24 6.95 3.12 8.59 8.99 4.79 14.38 7.26 7.64 Return on Assets %
64.21 66.93 71.08 72.66 69.44 70.30 76.67 66.19 65.98 65.26 103 126 85.54 66.33 55.57 53.54 53.78 Return on Capital %
23.00 26.18 29.90 33.10 36.32 32.89 36.95 28.54 24.08 22.42 11.57 22.37 18.60 8.88 23.91 12.64 12.69 Return on Invested Capital %
6.58 9.92 14.22 10.31 8.68 9.38 8.65 6.30 6.43 8.58 9.24 7.48 5.05 4.78 6.40 6.96 6.03 Weighted Average Cost Of Capital (WACC) %
-- -- -- 220 282 -- -- 2.44 -- -- -- -- -- -- -- -- -- Effective Interest Rate on Debt %
64.48 67.69 68.59 68.92 68.27 67.52 68.77 66.16 67.88 66.72 65.70 66.38 66.26 65.73 65.72 65.14 65.14 Gross Margin %
18.82 20.57 21.69 22.12 23.13 24.71 25.61 21.21 22.12 20.82 20.74 21.69 20.60 19.85 18.82 19.52 19.52 Operating Margin %
10.32 13.96 15.11 16.96 17.08 16.47 17.39 16.19 14.99 11.15 5.32 14.47 14.54 8.20 26.12 13.99 13.99 Net Margin %
8.72 12.40 12.78 14.01 15.19 19.77 18.65 14.54 16.71 18.75 16.01 7.15 12.58 7.72 14.98 10.36 10.36 FCF Margin %
0.00 0.07 0.00 0.00 0.00 0.00 0.14 0.23 0.21 0.31 0.46 0.47 0.72 0.73 0.84 0.87 0.87 Debt to Equity
0.67 0.66 0.71 0.73 0.71 0.73 0.66 0.63 0.65 0.58 0.50 0.53 0.47 0.45 0.43 0.43 0.43 Total Equity to Total Asset
0.00 0.05 0.00 0.00 0.00 0.00 0.09 0.15 0.13 0.18 0.23 0.25 0.34 0.33 0.36 0.37 0.37 Total Debt to Total Asset
75.90 68.74 64.98 62.52 61.33 54.45 50.42 47.71 46.36 41.58 38.50 39.41 40.94 38.37 36.17 33.79 35.56 Gross Profit to Total Asset %
1.18 1.02 0.95 0.91 0.90 0.81 0.73 0.72 0.68 0.62 0.59 0.59 0.62 0.58 0.55 0.52 0.55 Asset Turnover
0.08 0.07 0.12 0.14 0.14 0.05 0.20 0.22 0.27 0.42 0.94 0.37 0.36 0.65 0.21 0.39 0.39 Dividend Payout Ratio
64.32 61.00 61.50 62.70 61.37 62.28 62.43 62.26 60.29 61.42 59.31 60.99 63.40 64.47 62.58 70.94 70.94 Days Sales Outstanding
51.72 50.61 55.97 51.96 46.97 33.46 46.62 44.80 37.80 38.18 36.18 44.75 41.74 41.69 50.57 47.49 47.49 Days Accounts Payable
123 137 140 144 150 158 160 152 167 163 166 176 175 192 212 219 222 Days Inventory
136 147 146 155 164 187 175 169 190 187 189 192 197 215 224 243 245 Cash Conversion Cycle
2.97 2.67 2.61 2.53 2.44 2.30 2.29 2.40 2.18 2.23 2.21 2.07 2.08 1.90 1.72 1.66 1.65 Inventory Turnover
0.36 0.32 0.31 0.31 0.32 0.32 0.31 0.34 0.32 0.33 0.34 0.34 0.34 0.34 0.34 0.35 0.35 COGS to Revenue
0.12 0.12 0.12 0.12 0.13 0.14 0.14 0.14 0.15 0.15 0.16 0.16 0.16 0.18 0.20 0.21 0.21 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYK 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,262 4,609 5,147 6,001 6,718 6,723 7,320 8,307 8,657 9,021 9,675 9,946 11,325 12,444 13,601 14,884 14,884 Revenue
1,514 1,489 1,617 1,865 2,131 2,184 2,286 2,811 2,781 3,002 3,319 3,344 3,821 4,264 4,663 5,188 5,188 Cost of Goods Sold
2,749 3,120 3,531 4,135 4,587 4,539 5,034 5,496 5,876 6,019 6,356 6,602 7,504 8,180 8,938 9,696 9,696 Gross Profit
64.48 67.69 68.59 68.92 68.27 67.52 68.77 66.16 67.88 66.72 65.70 66.38 66.26 65.73 65.72 65.14 65.14 Gross Margin %
1,684 1,839 2,047 2,392 2,625 2,506 2,707 3,150 3,367 3,467 3,547 3,610 4,137 4,552 5,099 5,356 5,356 Selling, General, & Admin. Expense
215 285 325 375 368 336 394 462 471 536 614 625 715 787 862 971 971 Research & Development
47.80 47.60 42.70 41.40 40.00 35.50 58.00 122 123 138 188 210 319 371 417 464 464 Other Operating Expense
802 948 1,116 1,327 1,554 1,661 1,875 1,762 1,915 1,878 2,007 2,157 2,333 2,470 2,560 2,905 2,905 Operating Income
18.82 20.57 21.69 22.12 23.13 24.71 25.61 21.21 22.12 20.82 20.74 21.69 20.60 19.85 18.82 19.52 19.52 Operating Margin %
-- -- -- -- -- -- -- 34.00 -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -34.80 -52.60 -- -- -34.00 -- -- -- -- -- -- -- -- -- Interest Expense
-- -- -- -34.80 -52.60 -- -- -- -- -- -- -- -- -- -- -- -- Net Interest Income
-124 -11.00 -22.50 77.80 78.90 -37.50 -146 -76.00 -210 -666 -847 -422 -412 -407 -204 -343 -343 Other Income (Expense)
678 937 1,094 1,370 1,580 1,624 1,729 1,686 1,705 1,212 1,160 1,735 1,921 2,063 2,356 2,562 2,562 Pre-Tax Income
-238 -305 -322 -383 -432 -517 -456 -341 -407 -206 -645 -296 -274 -1,043 1,197 -479 -479 Tax Provision
35.11 32.50 29.48 27.98 27.36 31.81 26.37 20.23 23.87 17.00 55.60 17.06 14.26 50.56 -50.81 18.70 18.70 Tax Rate %
440 633 771 987 1,148 1,107 1,273 1,345 1,298 1,006 515 1,439 1,647 1,020 3,553 2,083 2,083 Net Income (Continuing Operations)
-- 11.10 6.30 30.70 -- -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
440 644 778 1,017 1,148 1,107 1,273 1,345 1,298 1,006 515 1,439 1,647 1,020 3,553 2,083 2,083 Net Income
10.32 13.96 15.11 16.96 17.08 16.47 17.39 16.19 14.99 11.15 5.32 14.47 14.54 8.20 26.12 13.99 13.99 Net Margin %
1.10 1.60 1.91 2.48 2.81 2.79 3.21 3.48 3.41 2.66 1.36 3.82 4.40 2.73 9.50 5.57 5.57 EPS (Basic)
1.08 1.57 1.89 2.44 2.78 2.77 3.19 3.45 3.39 2.63 1.34 3.78 4.35 2.68 9.34 5.48 5.48 EPS (Diluted)
409 411 411 417 414 399 400 390 383 382 383 381 379 380 380 380 380 Shares Outstanding (Diluted
Average)
251 283 324 367 388 385 223 282 277 307 378 397 546 642 723 778 778 Depreciation, Depletion and
Amortization
1,053 1,231 1,440 1,772 1,942 2,047 2,098 2,044 2,192 2,185 2,385 2,554 2,879 3,112 3,283 3,683 3,683 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYK 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
349 491 417 291 701 659 1,758 905 1,395 1,339 1,795 3,379 3,316 2,542 3,616 4,337 4,337 Cash And Cash Equivalents
-- 565 998 2,120 1,495 2,296 2,622 2,513 2,890 2,641 3,205 700 68.00 251 83.00 88.00 88.00 Marketable Securities
349 1,057 1,415 2,411 2,196 2,955 4,380 3,418 4,285 3,980 5,000 4,079 3,384 2,793 3,699 4,425 4,425 Cash, Cash Equivalents, Marketable
Securities
751 770 867 1,031 1,130 1,147 1,252 1,417 1,430 1,518 1,572 1,662 1,967 2,198 2,332 2,893 2,893 Accounts Receivable
75.10 87.00 98.80 110 138 140 158 185 202 227 248 304 425 528 606 677 677 Inventories, Raw Materials &
Components
53.40 65.40 76.00 75.90 92.70 84.00 65.00 46.00 71.00 85.00 88.00 103 130 148 149 178 178 Inventories, Work In Process
-5.10 -3.80 -3.40 -3.70 -5.60 -11.50 -- -- -- -- -- -- -- -- -- -- -- Inventories, Inventories
Adjustments
429 415 506 614 727 730 834 1,052 992 1,110 1,252 1,232 1,475 1,789 2,200 2,427 2,427 Inventories, Finished Goods
-- -- -- 0.00 0.00 -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
553 564 678 796 953 943 1,057 1,283 1,265 1,422 1,588 1,639 2,030 2,465 2,955 3,282 3,282 Total Inventories
490 480 575 667 702 806 943 1,089 1,168 1,415 524 563 480 537 747 760 760 Other Current Assets
2,143 2,870 3,534 4,905 4,979 5,851 7,632 7,207 8,148 8,335 8,684 7,943 7,861 7,993 9,733 11,360 11,360 Total Current Assets
-- -- -- 293 275 285 291 -- -- -- -- -- -- -- -- -- -- Investments And Advances
472 559 623 677 687 693 554 -- -- -- -- -- -- -- -- -- -- Land And Improvements
753 843 952 1,109 1,184 1,270 1,296 1,455 1,607 1,811 1,919 2,043 2,341 2,864 3,236 3,451 3,451 Machinery, Furniture, Equipment
1,225 1,403 1,575 1,786 1,871 1,964 1,850 2,055 2,232 2,497 2,597 2,730 3,161 3,800 4,277 4,714 4,714 Gross Property, Plant and Equipment
-524 -572 -660 -794 -907 -1,016 -1,052 -1,167 -1,284 -1,416 -1,499 -1,531 -1,592 -1,825 -1,986 -2,147 -2,147 Accumulated Depreciation
701 831 915 992 964 948 798 888 948 1,081 1,098 1,199 1,569 1,975 2,291 2,567 2,567 Property, Plant and Equipment
963 923 915 926 936 1,592 1,775 3,514 3,566 5,833 6,204 5,930 9,864 10,645 12,726 13,296 13,296 Intangible Assets
-- -- 511 527 568 957 1,072 2,072 2,142 3,844 4,186 4,136 6,356 7,168 8,563 9,069 9,069 Goodwill
278 369 510 239 450 396 399 537 544 494 1,293 1,151 1,141 1,584 2,479 2,944 2,944 Other Long Term Assets
4,084 4,993 5,874 7,354 7,603 9,071 10,895 12,146 13,206 15,743 17,279 16,223 20,435 22,197 27,229 30,167 30,167 Total Assets
215 207 248 266 274 200 292 345 288 314 329 410 437 487 646 675 675 Accounts Payable
-- -- -- 58.70 30.00 135 47.00 155 70.00 131 333 141 40.00 143 158 171 171 Total Tax Payable
917 994 1,016 1,316 1,442 1,423 1,162 1,379 1,393 2,097 3,137 2,097 2,153 2,015 2,517 2,586 2,586 Accounts Payable & Accrued
Expense
9.30 47.40 14.80 16.80 20.50 18.00 25.00 17.00 16.00 25.00 727 768 228 632 1,373 859 859 Current Portion of Long-Term Debt
187 207 320 -- -- -- 418 444 467 535 597 637 767 838 917 955 955 Other Current Liabilities
1,114 1,249 1,352 1,333 1,462 1,441 1,605 1,840 1,876 2,657 4,461 3,502 3,148 3,485 4,807 4,400 4,400 Total Current Liabilities
0.70 184 -- -- -- -- 996 1,751 1,746 2,739 3,246 3,230 6,686 6,590 8,486 10,231 10,231 Long-Term Debt
0.70 184 -- -- -- -- 996 1,751 1,746 2,739 3,246 3,230 6,686 6,590 8,486 10,231 10,231 Long-Term Debt & Capital Lease
Obligation
0.00 0.07 0.00 0.00 0.00 0.00 0.14 0.23 0.21 0.31 0.46 0.47 0.72 0.73 0.84 0.87 0.87 Debt to Equity
-- -- -- -- -- -- -- -- -- -- -- -- -- 14.00 -- -- -- Minority Interest
218 259 331 643 735 1,035 1,120 872 987 1,300 977 980 1,051 2,142 2,206 2,729 2,729 Other Long-Term Liabilities
1,332 1,692 1,683 1,976 2,197 2,476 3,721 4,463 4,609 6,696 8,684 7,712 10,885 12,217 15,499 17,360 17,360 Total Liabilities
40.30 40.50 40.80 41.10 39.60 39.80 39.00 38.00 38.00 38.00 38.00 37.00 37.00 37.00 37.00 37.00 37.00 Common Stock
2,298 2,803 3,491 4,365 4,390 5,397 6,017 6,479 7,332 7,617 7,559 7,792 8,842 8,986 10,765 11,748 11,748 Retained Earnings
196 5.20 90.60 261 165 258 154 144 129 232 -254 -639 -761 -553 -631 -606 -606 Accumulated other comprehensive
income (loss)
218 452 569 712 813 900 964 1,022 1,098 1,160 1,252 1,321 1,432 1,496 1,559 1,628 1,628 Additional Paid-In Capital
2,752 3,300 4,191 5,379 5,407 6,595 7,174 7,683 8,597 9,047 8,595 8,511 9,550 9,966 11,730 12,807 12,807 Total Equity
0.67 0.66 0.71 0.73 0.71 0.73 0.66 0.63 0.65 0.58 0.50 0.53 0.47 0.45 0.43 0.43 0.43 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYK 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
440 644 778 987 1,148 1,107 1,273 1,345 1,298 1,006 515 1,439 1,647 1,020 3,553 2,083 2,083 Net Income
440 644 778 987 1,148 1,107 1,273 1,345 1,298 1,006 515 1,439 1,647 1,020 3,553 2,083 2,083 Net Income From Continuing
Operations
251 283 324 367 388 385 223 282 277 307 378 397 546 642 723 778 778 Depreciation, Depletion and
Amortization
-244 -63.40 -105 -134 -131 -9.80 -121 -152 -20.00 -89.00 -89.00 -151 -192 -162 -60.00 -563 -563 Change In Receivables
-63.00 -39.70 -86.80 -89.90 -180 33.70 -131 -166 18.00 -77.00 -173 -115 -299 -320 -385 -400 -400 Change In Inventory
68.30 -2.60 39.10 31.50 36.10 178 163 107 -201 -88.00 140 -1,280 -93.00 289 159 -106 -106 Change In Payables And Accrued
Expense
-250 -193 -343 -377 -463 -84.90 -45.00 -323 -146 -176 -194 -1,384 -523 -447 -242 -1,182 -1,182 Change In Working Capital
-72.70 7.90 -27.10 -147 -17.60 -72.70 -104 -164 -39.00 23.00 60.00 87.00 -46.00 36.00 -1,582 126 -- Change In DeferredTax
-- -- -- 61.30 65.50 62.30 69.00 75.00 75.00 76.00 77.00 86.00 97.00 113 119 127 127 Stock Based Compensation
191 82.10 125 128 55.90 63.30 7.00 219 192 650 946 356 194 195 39.00 259 385 Cash Flow from Others
560 833 867 1,028 1,176 1,461 1,547 1,434 1,657 1,886 1,782 981 1,915 1,559 2,610 2,191 2,191 Cash Flow from Operations
-188 -262 -209 -188 -155 -131 -182 -226 -210 -195 -233 -270 -490 -598 -572 -649 -649 Purchase Of Property, Plant,
Equipment
8.50 3.40 0.30 0.70 8.60 1.50 61.00 67.00 -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -54.80 -14.20 -570 -265 -2,066 -154 -2,320 -916 -153 -4,332 -831 -2,451 -802 -802 Purchase Of Business
-- -1,543 -9,138 -14,852 -16,832 -4,602 -5,619 -6,779 -3,480 -4,558 -4,365 -1,715 -151 -270 -226 -74.00 -74.00 Purchase Of Investment
-- 968 8,710 13,772 17,303 3,974 5,210 6,869 3,108 4,856 3,636 4,094 785 87.00 394 69.00 69.00 Sale Of Investment
-- -12.90 -11.20 -1.60 -- -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-145 -56.70 -93.90 145 -- 0.00 -- -- -- -- -- -- -3.00 -1.00 -2.00 1.00 1.00 Cash From Other Investing Activities
-324 -903 -742 -1,178 310 -1,328 -795 -2,135 -736 -2,217 -1,878 1,956 -4,191 -1,613 -2,857 -1,455 -1,455 Cash Flow from Investing
37.30 30.40 48.60 69.50 -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -- -1,000 -- -426 -622 -108 -317 -100.00 -700 -13.00 -230 -300 -307 -307 Repurchase of Stock
-17.40 222 -227 0.80 6.70 -2.70 1,015 737 -4.00 1,005 1,159 48.00 2,912 299 2,456 1,293 1,293 Net Issuance of Debt
-28.00 -36.20 -44.60 -89.70 -136 -198 -238 -279 -324 -401 -462 -521 -568 -636 -703 -778 -778 Cash Flow for Dividends
52.50 16.60 20.00 33.00 82.80 7.80 59.00 3.00 -13.00 13.00 32.00 -50.00 -73.00 -227 -124 -205 -205 Other Financing
44.40 232 -203 13.60 -1,046 -193 410 -161 -449 300 629 -1,223 2,258 -794 1,329 3.00 3.00 Cash Flow from Financing
284 142 -74.60 -126 411 -42.40 1,099 -853 490 -56.00 456 1,584 -63.00 -774 1,074 721 721 Net Change in Cash
-188 -262 -209 -188 -155 -131 -182 -226 -210 -195 -233 -270 -490 -598 -572 -649 -649 Capital Expenditure
372 572 658 841 1,021 1,329 1,365 1,208 1,447 1,691 1,549 711 1,425 961 2,038 1,542 1,542 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYK 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
44.68 28.30 29.16 30.50 14.37 18.18 16.83 14.41 16.17 28.57 70.40 24.59 27.54 57.78 16.78 38.31 34.28 PE Ratio(TTM)
61.23 31.29 38.35 29.04 17.89 16.16 16.44 16.45 16.43 28.71 66.48 135 31.57 64.38 16.22 63.81 57.11 Price to Owner Earnings
(TTM)
7.06 5.45 5.36 5.71 2.93 3.04 2.93 2.47 2.42 3.14 4.15 4.07 4.70 5.82 5.00 6.14 5.51 Price to Book
10.86 7.57 6.86 6.90 3.54 4.01 3.89 4.54 4.14 8.84 14.91 13.43 -- -- -- -- -- Price to Tangible Book
52.96 31.92 34.51 37.12 16.11 15.14 15.72 15.93 14.50 16.98 23.21 49.65 31.85 61.27 29.24 51.72 46.30 Price-to-Free-Cash-Flow
Ratio
35.22 21.90 26.17 30.34 13.99 13.78 13.87 13.43 12.66 15.23 20.19 36.00 23.69 37.78 22.83 36.41 32.58 Price-to-Operating-Cash-
Flow Ratio
4.63 3.96 4.35 5.14 2.46 2.99 2.93 2.33 2.43 3.18 3.73 3.56 4.00 4.73 4.38 5.36 4.79 PS Ratio
3.36 1.78 2.69 17.94 1.27 1.04 0.68 0.46 5.97 15.44 25.42 5.48 3.87 5.90 2.02 4.38 3.96 PEG Ratio
4.48 3.73 4.04 4.67 2.03 2.54 2.41 2.08 2.11 3.01 3.58 3.48 4.28 5.02 4.77 5.73 5.17 EV-to-Revenue
18.12 13.85 55.01 12.77 7.04 8.36 8.00 8.13 8.35 12.44 14.52 13.54 16.83 20.06 19.75 23.16 20.92 EV-to-EBITDA
23.78 17.93 357 15.30 8.79 10.30 9.33 9.97 9.56 14.48 17.25 16.03 20.77 25.27 25.33 29.36 26.53 EV-to-EBIT
4.21 5.58 0.28 6.54 11.38 9.71 10.72 10.03 10.46 6.91 5.80 6.24 4.81 3.96 3.95 3.41 3.78 Return on Capital %
15.19 18.56 13.01 3.63 15.51 21.74 24.80 25.79 8.56 6.67 6.82 8.26 10.19 12.02 10.65 10.48 10.59 Forward Rate of Return
86.10 62.99 62.45 66.47 29.03 29.93 27.36 21.86 21.50 27.59 34.64 31.66 37.43 47.31 39.72 49.47 44.27 Shiller PE Ratio
0.19 0.25 0.40 0.44 1.00 0.30 1.17 1.51 1.65 1.46 1.34 1.52 1.31 1.13 1.23 1.02 1.12 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
19,421 18,003 22,479 30,710 15,841 20,042 21,002 18,940 20,832 28,403 35,657 34,667 44,929 57,972 58,687 78,623 70,379 Market Cap
19,081 17,178 21,079 28,316 13,666 17,105 17,643 17,290 18,309 27,187 34,630 34,586 48,459 62,415 64,847 85,288 77,044 Enterprise Value
48.25 44.43 55.11 74.72 39.95 50.37 53.70 49.71 54.82 75.14 94.33 92.94 120 155 157 210 188 Month End Stock Price
-2.44 -1.57 -0.66 1.06 -- 1.20 1.68 -2.74 -0.85 -7.19 -9.75 -9.74 -20.00 -25.21 -31.52 -34.54 -34.54 Net Cash (per share)
2.01 2.91 4.54 7.13 7.02 8.48 10.00 7.20 9.31 4.34 -- 0.62 -8.06 -11.32 -15.40 -16.02 -16.02 Net Current Asset Value
(per share)
-0.35 0.55 1.77 3.91 3.34 4.55 5.44 1.73 3.63 -2.29 -4.53 -4.20 -13.36 -17.51 -22.90 -24.36 -24.36 Net-Net Working Capital (per
share)
17.75 20.84 23.07 27.67 31.15 36.35 41.67 47.56 54.73 58.26 59.92 56.39 60.63 63.60 74.34 75.02 75.02 Projected FCF (per share)
43.33 48.65 55.60 65.48 72.72 75.11 81.39 91.36 91.78 79.28 84.38 87.19 99.86 109 121 143 143 Median PS (per share)
14.37 25.03 20.45 49.43 31.55 48.36 79.40 86.25 -- -- -- -- 30.93 26.26 77.71 47.90 47.90 Peter Lynch Fair Value (per
share)
10.39 14.26 18.38 24.04 26.56 28.00 31.48 29.14 31.78 22.43 13.81 24.26 -- -- -- -- -- Graham Number (per share)
14.51 17.38 19.35 26.36 31.26 38.66 44.97 52.69 56.79 56.52 55.65 56.80 50.76 47.08 57.73 66.90 66.90 Earnings Power Value
(EPV)
11.43 9.11 10.80 12.18 7.26 7.60 6.02 4.97 5.14 4.48 4.15 4.66 4.22 4.52 3.83 4.31 4.15 Altman Z-Score
8.00 6.00 6.00 6.00 5.00 6.00 5.00 4.00 7.00 3.00 3.00 6.00 6.00 4.00 5.00 4.00 4.00 Piotroski F-Score
-2.14 -2.72 -2.38 -2.24 -2.40 -2.50 -2.63 -2.28 -2.54 -2.44 -2.63 -2.15 -2.25 -2.37 -2.25 -2.23 -2.23 Beneish M-Score
0.76 0.61 0.56 0.51 0.44 0.48 0.42 0.55 0.50 0.59 0.48 0.49 0.81 0.71 0.81 0.72 0.73 Scaled Net Operating
Assets
5.01 14.29 11.11 15.87 -4.45 10.75 4.78 16.85 2.85 8.49 3.54 -9.23 19.20 4.84 13.96 4.47 4.47 Sloan Ratio (%)
1.92 2.30 2.62 3.68 3.41 4.06 4.76 3.92 4.34 3.14 1.95 2.27 2.50 2.29 2.02 2.58 2.58 Current Ratio
1.43 1.85 2.11 3.08 2.75 3.41 4.10 3.22 3.67 2.60 1.59 1.80 1.85 1.59 1.41 1.84 1.84 Quick Ratio
57.33 56.10 55.45 76.48 74.72 52.20 58.89 65.07 56.57 75.39 96.61 105 123 160 180 222 226 Highest Stock Price
41.75 39.80 40.88 55.11 36.48 31.19 42.88 43.80 49.71 54.82 74.63 90.07 87.53 118 145 152 175 Lowest Stock Price
-0.78 -0.67 -0.67 -0.76 3.52 -0.34 1.71 2.58 0.26 0.53 -- 1.32 -0.54 0.16 -- -0.03 -0.03 Shares Buyback Ratio (%)
21.74 7.73 11.50 14.98 12.93 3.63 8.85 16.39 5.98 4.45 7.05 3.32 14.59 9.42 9.24 9.55 9.55 YoY Rev. per Sh. Growth
(%)
0.93 45.37 20.38 29.10 13.93 -0.36 15.16 8.15 -1.74 -22.42 -49.05 182 15.08 -38.39 249 -41.33 -41.33 YoY EPS Growth (%)
21.03 16.44 16.86 21.28 10.55 9.16 2.50 -0.08 9.05 -0.09 8.95 7.62 13.44 7.64 5.45 12.30 12.29 YoY EBITDA Growth (%)
13.31 16.25 10.88 1.75 11.35 17.46 24.89 31.21 2.71 1.85 2.77 4.49 7.11 9.80 8.32 8.74 9.10 EBITDA 5-Y Growth (%)
401 404 407 410 408 397 396 387 381 379 379 377 374 374 374 374 375 Shares Outstanding (Basic
Average)
403 405 408 411 397 398 391 381 380 378 378 373 375 374 374 375 374 Shares Outstanding (EOP)
0.40 0.93 1.59 1.05 1.07 0.92 0.92 0.79 0.86 1.04 1.32 1.00 0.54 0.50 0.76 0.97 0.96 Beta
03/02/05 03/07/06 02/28/07 02/28/08 02/20/09 02/26/10 02/18/11 02/13/12 02/27/13 02/13/14 02/12/15 02/11/16 02/09/17 02/08/18 02/07/19 02/06/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYK 6/7
03/07/06 02/28/07 02/28/08 02/20/09 02/26/10 02/18/11 02/27/13 02/13/14 02/12/15 02/11/16 02/09/17 02/08/18 02/07/19 02/06/20 02/06/20 02/06/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYK 7/7
Albemarle Corp (NYSE:ALB) 03/03/2020 2:00PM EST GuruFocus
Price: $ 82.55 -1.75(-2.08%) Market Cap: $ 8.77 B Enterprise Value: $11.5 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 16.43
Cash to Debt 0.19 Operating margin (%) 18.56
Forward P/E N/A
Equity to Asset 0.40 Net-margin (%) 14.86
PE(NRI) 16.43
Interest Coverage 11.55 ROE (%) 14.16
F-Score:
P/B 2.23
ROA (%) 6.42
5 P/S 2.44
Z-Score: ROC (Joel Greenblatt) (%) 14.86
2.02 POCF 12.20
Revenue Growth (3Y)(%) 12.60
M-Score: EV-to-EBIT 18.53
-2.67 EBITDA Growth (3Y)(%) 3.30
PEG 1.32
WACC vs 7.48% EPS Growth (3Y)(%) 8.80
ROIC 10.05% Shiller P/E 19.97
WACC
ROIC Current Ratio 1.58
Quick Ratio 1.03
Days Inventory 120.29
Days Sales Outstanding 62.30
Warning Signs Quarterly Revenues Company Description
Dividend Yield %: Close to 1- Mar Jun Sep Dec Full Year Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased
demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and
year low 2016 657 669 654 697 2,677 its hard rock joint venture mines in Australia. Albemarle is also a global leader in the production of bromine, used in
2017 722 737 755 858 3,072 flame retardants, and oil refining catalysts.... (Read More)
Price: Close to 1-year high , , , , , , ,
2018 822 854 778 922 3,375 Competitors: NYSE:RPM NYSE:AVTR OCSE:CHR NSE:PIDILITIND LSE:CRDA TSE:6988 XTER:BNR
NYSE:WLK, ISX:TPIA, XSWX:CLN, BOM:509480, SZSE:002466, XPAR:AKE, TSE:5201, NYSE:AXTA, LSE:JMAT,
PS Ratio: Close to 1-year high 2019 832 885 880 993 3,589 XTER:EVK, BKK:SCC, SHSE:688363, SHSE:603659
2020
Long-Term Debt: Issuing new
Insider Trades
debt Quarterly Earnings per Share
Stock buyback: Poor Mar Jun Sep Dec Full Year
buyback track record 2016 2.02 -2.80 1.13 5.30 5.65
2017 0.45 0.92 1.06 -1.98 0.45
Insider Sell: Insider Selling
2018 1.18 2.73 1.20 1.21 6.32
2019 1.26 1.45 1.46 0.85 5.02
Good Signs 2020
Revenue per Share: Quarterly Dividends Per Share
Consistent growth Mar Jun Sep Dec Full Year
Operating Margin %: 2016 0.31 0.31 0.31 0.31 1.22
Expansion 2017 0.32 0.32 0.32 0.32 1.28
2018 0.34 0.34 0.34 0.34 1.34
2019 0.37 0.37 0.37 0.37 1.47
DCF 2020
EPS without NRI: $5.02 Growth Rate
Growth Rate in the next 10
years: 5% Annual Rates(per share) 10-Y 5-Y 12-M
Terminal Growth Rate for 10 Revenue Growth (%) 1.90 3.40 9.50
years: 4% EBITDA Growth (%) 6.70 12.70 -18.10
Fair Value: $53.72
Free Cash Flow Growth (%) 0.00 0.00 0.00
Book Value Growth (%) 11.00 12.80 8.90
Reverse DCF EPS Growth (%) 0.40 11.50 -20.80
Expected eps Growth Rate:
11.67%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALB 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17.80 22.07 24.38 24.03 26.60 21.79 25.63 31.35 28.03 28.39 30.92 25.34 23.64 27.34 30.83 33.76 33.76 Revenue per Share
2.54 2.95 3.91 4.34 3.59 3.10 5.43 6.72 5.56 8.03 4.53 5.85 7.12 6.76 9.57 7.85 7.85 EBITDA per Share
1.39 1.72 2.75 3.24 2.39 2.01 4.39 5.66 4.46 6.76 3.22 3.52 5.13 5.00 7.74 5.84 5.84 EBIT per Share
0.65 1.20 1.47 2.36 2.09 1.94 3.43 4.28 3.47 4.90 1.69 3.00 5.68 0.49 6.34 5.02 5.02 Earnings per Share (diluted)
0.65 1.20 1.47 2.36 2.09 1.94 3.43 4.28 3.42 4.85 2.57 2.71 3.90 0.49 6.34 5.02 5.02 eps without NRI
1.55 1.27 2.18 1.93 2.30 3.46 2.82 3.81 2.35 4.95 1.04 2.12 8.42 -3.01 5.21 2.84 2.84 Owner Earnings per Share (TTM)
1.57 1.03 2.85 1.48 2.45 2.80 2.78 3.24 2.31 3.29 4.83 1.19 4.76 -0.12 -1.41 -1.25 -1.24 Free Cashflow per Share
0.29 0.31 0.35 0.42 0.48 0.50 0.56 0.67 0.80 0.96 1.10 1.16 1.22 1.28 1.34 1.47 1.47 Dividends per Share
8.36 9.74 10.58 13.98 11.49 13.21 15.46 17.91 20.63 20.33 17.42 29.00 33.73 33.24 33.95 36.99 36.99 Book Value per Share
3.61 5.61 6.44 9.15 6.69 8.36 11.02 13.37 16.45 15.68 13.74 12.56 16.89 14.86 15.45 18.80 18.80 Tangible Book per Share
11.11 8.73 7.54 7.92 10.05 8.91 9.40 8.60 7.87 13.48 37.60 34.02 21.06 16.62 16.15 29.99 29.99 Total Debt per Share
19.36 19.18 35.90 41.25 22.30 36.37 55.78 51.51 62.12 63.39 60.13 56.01 86.08 128 77.07 73.04 82.55 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
8.14 13.99 14.60 19.92 16.57 15.71 24.09 26.08 18.19 23.88 8.93 14.52 18.26 1.47 19.11 14.19 14.16 Return on Equity %
2.86 4.60 5.62 8.57 6.81 6.32 10.81 12.50 9.38 11.77 3.03 4.52 7.25 0.69 9.05 6.11 6.42 Return on Assets %
11.91 12.56 19.45 21.45 14.29 12.49 27.88 33.93 23.81 31.12 14.67 17.48 21.71 20.76 26.20 14.08 14.86 Return on Capital %
7.42 8.07 15.63 14.11 13.73 11.63 17.64 21.46 19.37 20.35 13.98 10.15 7.89 0.45 12.16 9.71 10.05 Return on Invested Capital %
8.27 8.06 12.44 11.51 8.88 10.51 10.96 10.77 11.45 12.61 5.77 9.55 11.39 14.19 8.57 8.31 7.48 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 4.61 2.82 3.05 4.63 4.48 3.55 2.06 2.42 2.11 5.48 2.96 2.36 2.72 Effective Interest Rate on Debt %
20.63 20.09 23.26 26.65 24.63 24.13 31.40 33.28 35.68 35.52 31.52 30.44 36.24 36.01 36.07 35.04 35.04 Gross Margin %
7.83 7.78 11.26 13.48 10.00 9.87 17.31 18.05 20.30 25.48 13.39 16.65 20.02 18.61 20.77 18.56 18.56 Operating Margin %
3.62 5.45 6.04 9.83 7.87 8.89 13.36 13.67 12.37 17.26 5.45 11.85 24.04 1.79 20.55 14.86 14.86 Net Margin %
8.85 4.69 11.67 6.16 9.22 12.85 10.83 10.34 8.25 11.59 15.62 4.71 20.13 -0.45 -4.56 -3.69 -3.69 FCF Margin %
1.33 0.90 0.71 0.57 0.88 0.67 0.61 0.48 0.38 0.66 2.16 1.17 0.62 0.50 0.48 0.81 0.81 Debt to Equity
0.29 0.36 0.41 0.45 0.37 0.44 0.46 0.50 0.53 0.45 0.26 0.34 0.47 0.47 0.47 0.40 0.40 Total Equity to Total Asset
0.39 0.33 0.29 0.26 0.33 0.29 0.28 0.24 0.20 0.30 0.56 0.40 0.29 0.24 0.23 0.32 0.32 Total Debt to Total Asset
16.31 16.94 21.66 23.22 21.31 17.15 25.41 30.45 27.07 24.22 17.50 11.61 10.93 13.90 15.88 14.42 15.14 Gross Profit to Total Asset %
0.79 0.84 0.93 0.87 0.87 0.71 0.81 0.92 0.76 0.68 0.56 0.38 0.30 0.39 0.44 0.41 0.43 Asset Turnover
0.45 0.26 0.24 0.18 0.23 0.26 0.16 0.16 0.23 0.20 0.43 0.43 0.31 2.61 0.21 0.29 0.29 Dividend Payout Ratio
72.34 60.96 61.65 66.46 48.49 59.92 57.88 45.21 54.91 68.12 57.49 51.39 66.26 63.49 65.51 62.30 62.30 Days Sales Outstanding
61.50 48.15 40.66 42.35 44.04 40.85 39.45 35.18 38.94 49.22 50.50 44.47 60.28 77.72 88.39 89.88 89.88 Days Accounts Payable
82.56 81.25 79.25 90.64 99.29 106 82.95 78.25 96.82 102 86.57 74.06 95.13 96.84 109 115 120 Days Inventory
93.40 94.06 100 115 104 125 101 88.28 113 121 93.56 80.98 101 82.61 86.51 87.44 92.71 Cash Conversion Cycle
4.42 4.49 4.61 4.03 3.68 3.43 4.40 4.66 3.77 3.57 4.22 4.93 3.84 3.77 3.34 3.17 3.03 Inventory Turnover
0.79 0.80 0.77 0.73 0.75 0.76 0.69 0.67 0.64 0.64 0.68 0.70 0.64 0.64 0.64 0.65 0.65 COGS to Revenue
0.18 0.18 0.17 0.18 0.21 0.22 0.16 0.14 0.17 0.18 0.16 0.14 0.17 0.17 0.19 0.21 0.21 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALB 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,514 2,107 2,369 2,336 2,467 2,005 2,363 2,869 2,519 2,394 2,446 2,826 2,677 3,072 3,375 3,589 3,589 Revenue
1,201 1,684 1,818 1,714 1,859 1,522 1,621 1,914 1,620 1,544 1,675 1,966 1,707 1,966 2,158 2,332 2,332 Cost of Goods Sold
312 423 551 622 608 484 742 955 899 850 771 860 970 1,106 1,217 1,258 1,258 Gross Profit
20.63 20.09 23.26 26.65 24.63 24.13 31.40 33.28 35.68 35.52 31.52 30.44 36.24 36.01 36.07 35.04 35.04 Gross Margin %
158 220 238 245 255 225 275 360 308 158 355 300 354 450 446 533 533 Selling, General, & Admin. Expense
31.27 41.68 46.30 62.69 67.29 60.92 58.39 77.08 78.92 82.25 88.31 89.19 80.48 84.33 70.05 58.29 58.29 Research & Development
4.86 -1.90 -- -0.00 38.54 0.00 -0.00 0.00 -0.00 0.00 -- -0.00 -- 0.00 0.00 -0.00 0.00 Other Operating Expense
118 164 267 315 247 198 409 518 511 610 327 471 536 572 701 666 666 Operating Income
7.83 7.78 11.26 13.48 10.00 9.87 17.31 18.05 20.30 25.48 13.39 16.65 20.02 18.61 20.77 18.56 18.56 Operating Margin %
-- -- -- -- -38.18 -24.58 -25.53 -37.57 -32.80 -31.56 -41.36 -81.65 -65.18 -115 -52.41 -57.70 -57.70 Interest Expense
-- -- -- -- -38.18 -24.58 -25.53 -37.57 -32.80 -31.56 -41.36 -81.65 -65.18 -115 -52.41 -57.70 -57.70 Net Interest Income
-46.64 -13.97 -133 -37.01 -25.19 -13.07 -4.17 0.36 -110 -40.04 -72.87 -78.21 44.38 -9.51 146 -45.48 -45.48 Other Income (Expense)
-- -7.47 -13.26 -17.63 -18.81 -11.26 -13.64 -28.08 -18.59 -26.66 -27.59 -25.16 -37.09 -44.62 -45.58 -71.13 -71.13 Other Income (Minority Interest)
71.84 150 133 278 183 160 379 481 368 538 213 311 515 447 795 563 563 Pre-Tax Income
-17.01 -27.59 -2.19 -55.08 6.54 7.03 -87.76 -104 -80.43 -134 -18.48 -11.13 -96.26 -432 -145 -88.16 -88.16 Tax Provision
23.67 18.40 1.64 19.83 -3.57 -4.39 23.14 21.67 21.84 24.97 8.67 3.58 18.68 96.65 18.22 15.66 15.66 Tax Rate %
54.84 115 143 230 213 190 329 420 326 436 230 328 479 99.47 739 604 604 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -- 4.28 4.11 -69.53 32.48 202 -- -- -- -- Net Income (Discontinued
Operations)
54.84 115 143 230 194 178 316 392 312 413 133 335 644 54.85 694 533 533 Net Income
3.62 5.45 6.04 9.83 7.87 8.89 13.36 13.67 12.37 17.26 5.45 11.85 24.04 1.79 20.55 14.86 14.86 Net Margin %
0.66 1.24 1.51 2.41 2.12 1.95 3.46 4.33 3.49 4.93 1.69 3.01 5.73 0.49 6.40 5.03 5.03 EPS (Basic)
0.65 1.20 1.47 2.36 2.09 1.94 3.43 4.28 3.47 4.90 1.69 3.00 5.68 0.49 6.34 5.02 5.02 EPS (Diluted)
85.05 95.50 97.14 97.22 92.74 92.05 92.18 91.52 89.88 84.32 79.10 112 113 112 109 106 106 Shares Outstanding (Diluted
Average)
97.27 117 113 107 112 101 95.58 96.75 99.02 107 104 260 226 197 201 213 213 Depreciation, Depletion and
Amortization
216 281 380 422 333 285 500 615 500 677 358 652 807 759 1,048 834 834 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALB 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
46.39 58.57 149 131 253 309 530 469 478 477 2,490 214 2,270 1,137 555 613 613 Cash And Cash Equivalents
46.39 58.57 149 131 253 309 530 469 478 477 2,490 214 2,270 1,137 555 613 613 Cash, Cash Equivalents, Marketable
Securities
300 352 400 425 328 329 375 355 379 447 385 398 486 534 606 613 613 Accounts Receivable
59.20 72.52 51.68 73.58 143 106 110 120 102 95.19 95.59 175 161 189 218 273 273 Inventories, Raw Materials &
Components
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Work In Process
248 292 283 348 396 241 279 312 326 341 263 264 289 404 482 496 496 Inventories, Finished Goods
31.31 46.35 43.99 50.97 -- -0.00 -0.00 -- -- -- -- -- -- -- -- -- -- Inventories, Other
339 411 378 473 539 348 389 431 428 436 358 440 450 593 701 769 769 Total Inventories
20.71 16.61 33.00 24.70 59.00 46.58 54.68 54.83 52.45 51.36 43.25 682 43.49 128 44.67 90.57 90.57 Other Current Assets
747 874 961 1,053 1,179 1,032 1,348 1,356 1,407 1,483 3,349 1,831 3,307 2,478 1,998 2,225 2,225 Total Current Assets
-- -- -- -- 122 146 181 198 207 212 194 436 458 534 529 580 580 Investments And Advances
-- 90.09 103 103 98.96 101 104 109 112 116 105 179 180 182 187 200 200 Land And Improvements
-- 167 167 187 184 197 205 195 198 236 214 237 257 245 252 338 338 Buildings And Improvements
-- 1,890 1,760 1,918 1,885 1,983 1,987 2,086 2,190 2,420 2,106 2,216 2,501 2,628 2,780 3,356 3,356 Machinery, Furniture, Equipment
-- 47.80 80.98 48.85 71.30 42.45 58.18 142 235 116 109 416 318 394 884 1,161 1,161 Construction In Progress
2,065 2,195 2,169 2,315 2,323 2,406 2,440 2,619 2,819 2,972 2,621 3,700 3,911 4,124 4,799 6,952 6,952 Gross Property, Plant and Equipment
-1,169 -1,228 -1,189 -1,276 -1,311 -1,379 -1,434 -1,490 -1,522 -1,615 -1,389 -1,379 -1,550 -1,631 -1,778 -1,908 -1,908 Accumulated Depreciation
896 967 981 1,039 1,012 1,027 1,006 1,129 1,297 1,357 1,232 2,321 2,360 2,493 3,021 5,043 5,043 Property, Plant and Equipment
404 394 403 442 446 443 407 403 371 372 287 1,844 1,895 2,032 1,953 1,933 1,933 Intangible Assets
-- 238 251 270 279 293 272 273 277 284 243 1,461 1,540 1,610 1,567 1,579 1,579 Goodwill
395 321 186 297 114 123 126 117 155 160 161 3,166 142 214 80.14 79.20 79.20 Other Long Term Assets
2,443 2,556 2,530 2,830 2,873 2,772 3,068 3,204 3,437 3,585 5,223 9,598 8,161 7,751 7,582 9,861 9,861 Total Assets
202 222 202 199 224 170 175 184 173 208 232 240 282 419 523 574 574 Accounts Payable
-- -- -- -- 7.65 2.39 23.78 31.66 29.45 17.76 9.45 26.96 254 54.94 60.87 32.46 32.46 Total Tax Payable
290 341 362 354 412 317 355 300 319 349 380 520 800 684 798 1,116 1,116 Accounts Payable & Accrued
Expense
45.05 57.56 50.73 16.63 26.20 36.31 8.98 14.42 12.70 24.55 711 675 248 422 307 210 210 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 18.82 13.96 17.90 -- -- -- -- -- -- -- Current Deferred Revenue
-- -- -- -- -- -- -- -- -- 2.85 -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- -- -- -- 18.82 13.96 20.75 -- -- -- -- -- -- -- DeferredTaxAndRevenue
38.24 23.65 69.91 32.11 -- -- -- 67.45 39.44 42.04 49.07 422 92.48 95.33 77.81 82.03 82.03 Other Current Liabilities
374 422 483 403 438 353 364 401 385 436 1,140 1,617 1,140 1,201 1,183 1,409 1,409 Total Current Liabilities
900 776 682 707 906 776 852 749 687 1,054 2,223 3,142 2,122 1,415 1,398 2,863 2,863 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 115 115 Capital Lease Obligation
900 776 682 707 906 776 852 749 687 1,054 2,223 3,142 2,122 1,415 1,398 2,978 2,978 Long-Term Debt & Capital Lease
Obligation
1.33 0.90 0.71 0.57 0.88 0.67 0.61 0.48 0.38 0.66 2.16 1.17 0.62 0.50 0.48 0.81 0.81 Debt to Equity
-- -- -- -- 194 202 158 202 277 135 249 371 371 372 358 372 372 PensionAndRetirementBenefit
249 202 101 107 74.84 81.44 110 89.32 66.73 132 56.88 385 413 370 383 398 398 NonCurrent Deferred Liabilities
-- -- 39.53 54.36 50.71 47.62 59.67 87.55 98.41 115 129 147 148 143 174 161 161 Minority Interest
209 225 197 280 143 105 109 82.91 90.39 85.14 65.54 682 173 574 501 611 611 Other Long-Term Liabilities
1,731 1,625 1,463 1,498 1,756 1,518 1,592 1,525 1,505 1,842 3,734 6,197 4,219 3,933 3,823 5,767 5,767 Total Liabilities
0.42 0.94 0.95 0.95 0.91 0.92 0.92 0.89 0.89 0.80 0.78 1.12 1.13 1.11 1.06 1.06 1.06 Common Stock
642 728 838 1,023 1,166 1,288 1,561 1,515 1,745 1,500 1,411 1,615 2,122 2,035 2,566 2,943 2,943 Retained Earnings
46.20 12.05 -10.06 99.89 -101 -91.86 -164 60.33 85.26 116 -62.41 -421 -412 -226 -351 -396 -396 Accumulated other comprehensive
income (loss)
22.84 189 199 154 -- 8.66 18.84 15.19 2.76 9.96 10.45 2,059 2,084 1,864 1,369 1,383 1,383 Additional Paid-In Capital
711 930 1,028 1,278 1,066 1,206 1,416 1,591 1,834 1,627 1,359 3,254 3,795 3,675 3,585 3,932 3,932 Total Equity
0.29 0.36 0.41 0.45 0.37 0.44 0.46 0.50 0.53 0.45 0.26 0.34 0.47 0.47 0.47 0.40 0.40 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALB 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
54.84 115 143 230 213 190 329 420 330 440 161 360 681 99.47 739 604 604 Net Income
54.84 115 143 230 213 190 329 420 330 440 161 360 681 99.47 739 604 604 Net Income From Continuing
Operations
97.27 117 113 107 112 101 95.58 96.75 99.02 107 104 260 226 197 201 213 213 Depreciation, Depletion and
Amortization
-31.42 -57.41 -18.26 11.23 90.48 1.27 -57.41 -16.44 -25.99 -65.91 36.22 -8.79 -42.82 -74.55 -97.45 -18.22 -- Change In Receivables
-18.08 -73.02 38.63 -70.64 -87.93 180 -58.58 -41.75 7.36 -1.81 -6.49 27.65 25.97 -102 -124 -46.30 -- Change In Inventory
-- 6.93 -9.08 -3.31 -- -- -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
48.75 59.12 -17.56 -12.59 3.23 -72.26 52.56 16.26 -9.49 31.45 21.62 -73.15 254 -216 71.73 -16.87 -- Change In Payables And Accrued
Expense
20.62 -63.78 68.19 -78.96 -8.42 121 -77.95 -37.43 -47.71 -31.00 57.16 -41.53 239 -392 -152 -114 -114 Change In Working Capital
-8.13 10.19 -60.86 -9.13 -12.05 1.72 42.14 -11.20 -14.59 64.87 -64.95 -136 21.12 -41.94 49.16 14.39 14.39 Change In DeferredTax
-- -- -- -- 18.47 0.31 15.69 27.07 15.21 10.16 14.27 15.19 17.03 19.40 15.23 19.68 19.68 Stock Based Compensation
26.96 -9.85 113 -5.91 4.46 -54.49 -73.56 -8.04 107 -158 222 -96.69 -449 422 -306 -18.20 -18.20 Cash Flow from Others
192 169 376 243 327 359 331 487 489 433 493 361 736 304 546 719 719 Cash Flow from Operations
-57.65 -70.08 -99.85 -98.74 -99.74 -101 -75.48 -191 -281 -155 -111 -228 -197 -318 -700 -852 -852 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 10.36 10.36 Sale Of Property, Plant, Equipment
-- -- -- -- -63.96 -20.46 -25.97 -24.03 -3.36 -2.57 -- -2,100 -209 -47.93 -17.00 -823 -823 Purchase Of Business
-- -- -- -- -- -- 8.60 -- 9.65 -- 105 109 3,326 8.11 414 -- -- Sale Of Business
-12.88 -3.61 -4.58 -5.02 -3.45 -0.39 -1.34 -10.87 -1.62 -- -33.43 -- -- -0.28 -0.27 -- -- Purchase Of Investment
-- 3.14 -- 0.41 6.00 -- 0.65 1.67 -- 0.17 0.65 1.00 0.31 -- -- 0.38 0.38 Sale Of Investment
-798 -7.47 -40.70 -29.58 -2.56 0.00 1.34 10.87 -24.96 0.00 -7.50 57.55 -0.00 -0.00 -0.00 0.00 0.00 Cash From Other Investing Activities
-869 -78.03 -145 -133 -164 -122 -92.19 -213 -301 -158 -46.13 -2,161 2,920 -358 -304 -1,664 -1,664 Cash Flow from Investing
11.91 154 21.40 21.95 -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-0.83 -- -31.84 -101 -169 -5.81 -14.95 -178 -63.58 -582 -150 -- -- -250 -500 -- -- Repurchase of Stock
716 -191 -105 -25.56 207 -120 48.53 -100 -63.81 380 1,876 -278 -1,416 -612 -114 1,296 1,296 Net Issuance of Debt
-30.14 -26.45 -31.58 -40.03 -55.94 -56.14 -49.64 -57.76 -69.11 -78.11 -84.10 -119 -135 -141 -145 -152 -152 Cash Flow for Dividends
-10.56 -5.51 3.47 5.18 -7.11 1.20 8.12 6.95 19.21 -7.45 -32.92 -80.87 -28.65 -83.85 -28.36 -101 -101 Other Financing
686 -69.23 -144 -140 -25.03 -181 -7.94 -329 -177 -288 1,609 -478 -1,580 -1,087 -787 1,043 1,043 Cash Flow from Financing
11.22 12.18 90.93 -18.95 123 55.49 221 -60.23 8.28 -0.46 2,013 -2,276 2,056 -1,132 -582 57.79 57.79 Net Change in Cash
-57.65 -70.08 -99.85 -98.74 -99.74 -101 -75.48 -191 -281 -155 -111 -228 -197 -318 -700 -852 -852 Capital Expenditure
134 98.78 276 144 227 258 256 297 208 278 382 133 539 -13.72 -154 -132 -132 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALB 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
30.02 15.98 24.34 17.48 10.67 18.65 16.22 12.04 17.90 12.83 35.79 18.73 15.24 284 12.19 14.55 16.43 PE Ratio(TTM)
12.47 15.05 16.48 21.41 9.72 10.51 19.79 13.51 26.41 12.81 58.04 26.43 10.22 -- 14.80 25.70 29.05 Price to Owner Earnings
(TTM)
2.31 1.97 3.39 2.95 1.94 2.75 3.61 2.88 3.01 3.12 3.45 1.93 2.55 3.85 2.27 1.97 2.23 Price to Book
5.36 3.42 5.58 4.51 3.34 4.35 5.06 3.85 3.78 4.04 4.38 4.46 5.10 8.61 4.99 3.89 4.39 Price to Tangible Book
12.25 18.80 12.64 27.83 9.07 13.01 20.09 15.78 26.82 19.00 12.47 47.47 18.10 -- -- -- -- Price-to-Free-Cash-Flow
Ratio
8.56 10.94 9.28 16.52 6.31 9.35 15.51 9.62 11.42 12.28 9.67 17.39 13.26 47.28 15.40 10.80 12.20 Price-to-Operating-Cash-
Flow Ratio
1.08 0.87 1.47 1.72 0.84 1.67 2.18 1.64 2.22 2.18 1.94 2.07 3.64 4.68 2.50 2.16 2.44 PS Ratio
-- 2.23 1.71 0.93 0.60 7.61 5.96 1.35 1.19 0.66 2.34 -- 47.87 151 2.11 0.97 1.32 PEG Ratio
1.69 1.25 1.74 1.89 1.13 1.93 2.33 1.73 2.32 2.36 2.15 3.32 3.71 4.88 2.80 2.93 3.20 EV-to-Revenue
11.86 9.36 10.86 10.48 8.32 13.56 10.99 8.06 11.68 8.52 14.70 15.14 12.31 19.74 9.03 12.59 13.80 EV-to-EBITDA
21.59 16.07 15.46 14.04 12.46 20.93 13.59 9.57 14.57 10.12 20.69 24.91 17.11 26.65 11.17 16.92 18.53 EV-to-EBIT
4.63 6.22 6.47 7.12 8.03 4.78 7.36 10.45 6.86 9.88 4.83 4.01 5.84 3.75 8.95 5.91 5.41 Return on Capital %
5.93 13.49 18.64 22.59 25.97 8.25 7.13 14.17 19.43 24.49 15.54 0.78 4.43 4.16 8.34 15.98 15.85 Forward Rate of Return
20.31 18.68 34.31 33.44 16.75 25.28 33.38 25.14 26.73 23.02 21.18 18.55 24.83 38.37 20.35 17.67 19.97 Shiller PE Ratio
1.52 1.62 0.96 1.02 2.15 1.37 1.00 1.30 1.29 1.51 1.83 2.07 1.42 1.00 1.74 2.01 1.78 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,647 1,832 3,487 3,772 2,068 3,318 5,109 4,576 5,522 5,075 4,692 6,285 9,686 14,138 8,140 7,766 8,767 Market Cap
2,545 2,606 4,110 4,420 2,798 3,870 5,500 4,958 5,842 5,792 5,266 10,036 9,933 14,981 9,464 10,502 11,504 Enterprise Value
19.36 19.18 35.90 41.25 22.30 36.37 55.78 51.51 62.12 63.39 60.13 56.01 86.08 128 77.07 73.04 82.55 Month End Stock Price
-19.81 -16.41 -13.93 -15.55 -16.75 -13.78 -12.25 -12.87 -12.67 -18.49 -17.61 -54.62 -18.63 -26.59 -32.58 -49.99 -50.00 Net Cash (per share)
-11.57 -7.87 -5.57 -5.45 -6.77 -5.85 -3.32 -2.89 -2.21 -5.93 -6.60 -40.21 -9.42 -14.46 -18.92 -34.83 -34.84 Net Current Asset Value
(per share)
-15.17 -11.49 -8.89 -9.47 -11.20 -9.17 -7.06 -7.44 -7.06 -11.58 -11.61 -50.01 -13.39 -20.28 -24.96 -42.06 -42.06 Net-Net Working Capital (per
share)
22.91 24.16 29.23 32.72 35.66 30.42 33.92 42.72 43.99 55.65 48.68 45.01 52.39 47.80 44.07 40.85 40.85 Projected FCF (per share)
20.98 25.83 28.43 28.02 30.64 25.23 30.45 41.14 40.81 47.51 53.77 48.10 44.63 54.80 67.25 76.21 76.21 Median PS (per share)
8.75 8.58 21.00 44.27 36.87 -- 18.27 38.26 52.22 96.43 25.68 -- -- -- 36.53 75.60 75.60 Peter Lynch Fair Value (per
share)
7.24 12.31 14.59 22.04 17.73 19.10 29.16 35.88 35.58 41.36 28.19 27.68 38.50 12.80 46.95 46.08 46.08 Graham Number (per share)
0.71 2.38 6.60 9.64 9.69 12.57 20.08 18.95 19.51 25.08 27.76 -9.77 29.10 20.30 11.70 -5.00 -5.00 Earnings Power Value
(EPV)
1.84 2.29 3.24 3.44 2.66 3.20 4.23 4.25 4.39 3.80 2.27 1.32 2.62 3.36 2.69 1.90 2.02 Altman Z-Score
4.00 6.00 7.00 7.00 5.00 6.00 7.00 8.00 7.00 5.00 4.00 5.00 7.00 6.00 7.00 5.00 5.00 Piotroski F-Score
-2.44 -2.45 -2.79 -2.45 -2.90 -2.63 -2.52 -2.65 -2.48 -2.31 -3.37 -0.84 -2.52 -2.40 -2.35 -2.67 -2.67 Beneish M-Score
1.16 0.70 0.65 0.76 0.63 0.61 0.65 0.64 0.67 0.68 0.54 1.34 0.42 0.55 0.63 0.88 0.82 Scaled Net Operating
Assets
29.96 0.94 -3.49 4.24 1.07 -2.11 2.50 3.67 3.61 3.85 -6.00 22.24 -36.91 1.40 5.95 14.98 14.98 Sloan Ratio (%)
2.00 2.07 1.99 2.61 2.69 2.92 3.70 3.38 3.66 3.40 2.94 1.13 2.90 2.06 1.69 1.58 1.58 Current Ratio
1.09 1.10 1.21 1.44 1.46 1.94 2.63 2.30 2.54 2.40 2.62 0.86 2.51 1.57 1.10 1.03 1.03 Quick Ratio
20.16 19.46 36.65 47.76 45.79 37.27 56.73 71.11 67.70 69.55 72.62 64.38 91.80 145 137 92.28 99.40 Highest Stock Price
13.68 16.23 19.18 35.02 16.46 15.81 34.86 39.00 51.51 57.75 53.16 41.78 47.71 86.08 73.13 59.30 58.63 Lowest Stock Price
-0.90 -12.28 -1.72 5.86 -1.42 1.62 -0.39 3.01 -0.07 9.95 2.53 -43.81 -0.27 1.76 4.46 -0.67 -0.66 Shares Buyback Ratio (%)
35.12 24.00 10.49 -1.44 10.70 -18.10 17.64 22.31 -10.59 1.31 8.88 -18.05 -6.69 15.62 12.79 9.49 9.41 YoY Rev. per Sh. Growth
(%)
-24.56 86.05 22.50 60.54 -11.44 -7.18 76.80 24.78 -18.93 41.21 -65.51 77.51 89.33 -91.37 1,194 -20.82 -20.57 YoY EPS Growth (%)
20.92 16.12 32.65 11.00 -17.17 -13.72 75.06 23.81 -17.20 44.40 -43.64 29.20 21.78 -5.17 41.72 -18.05 -17.86 YoY EBITDA Growth (%)
-0.32 7.15 14.24 18.76 17.64 2.45 2.72 8.94 15.05 19.68 10.03 -4.40 0.46 1.88 5.78 15.06 12.70 EBITDA 5-Y Growth (%)
83.13 92.70 94.62 95.25 91.66 91.51 91.39 90.52 89.19 83.84 78.70 111 112 111 108 106 106 Shares Outstanding (Basic
Average)
85.05 95.50 97.14 91.45 92.74 91.24 91.59 88.84 88.90 80.05 78.03 112 113 111 106 106 106 Shares Outstanding (EOP)
0.99 1.13 1.78 1.63 1.65 1.48 1.49 1.73 1.83 1.86 0.75 1.70 2.10 2.32 1.22 1.30 1.31 Beta
03/14/05 03/01/07 03/01/07 02/29/08 02/27/09 02/26/10 02/25/11 02/22/12 02/15/13 02/25/14 03/02/15 02/29/16 02/28/17 02/28/18 02/27/19 02/26/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALB 6/7
03/14/05 03/01/07 02/29/08 02/29/08 02/26/10 02/25/11 02/15/13 02/25/14 03/02/15 02/29/16 02/28/17 02/28/18 02/27/19 02/26/20 02/26/20 02/26/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALB 7/7
Coca-Cola Co (NYSE:KO) 03/03/2020 2:00PM EST GuruFocus
Price: $ 55.91 -0.01(-0.02%) Market Cap: $ 239.87 B Enterprise Value: $273.57 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 27.00
Cash to Debt 0.26 Operating margin (%) 28.51
Forward P/E N/A
Equity to Asset 0.22 Net-margin (%) 24.38
PE(NRI) 27.13
Interest Coverage 11.18 ROE (%) 49.23
F-Score:
P/B 12.61
ROA (%) 10.24
5 P/S 6.57
Z-Score: ROC (Joel Greenblatt) (%) 101.23
4.05 PFCF 28.68
Revenue Growth (3Y)(%) -3.40
M-Score: POCF 23.04
-2.49 EBITDA Growth (3Y)(%) 7.60
EV-to-EBIT 23.51
WACC vs 2.85% EPS Growth (3Y)(%) 11.60
ROIC 16.88% PEG 271.00
WACC
ROIC Shiller P/E 30.39
Current Ratio 0.76
Quick Ratio 0.63
Days Inventory 83.78
Days Sales Outstanding 39.61
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Coca-Cola is the largest nonalcoholic beverage entity in the world, owning and marketing some of the leading
Dividend Payout Ratio: Too
carbonated beverage brands, such as Coke, Fanta, and Sprite, as well as nonsparkling brands, such as Minute Maid,
high 2016 10,282 11,539 10,633 9,409 41,863 Georgia Coffee, and Glaceau. Operationally, the firm focuses its manufacturing efforts early in the supply chain,
2017 9,118 9,702 9,078 8,314 36,212 making the concentrate (or beverage bases) for its drinks that are then processed and distributed by its network of
Dividend Yield %: Close to 5- more than 100 bottlers. Concentrate operations represented 85% of the company's unit case volume in 2018. Coca-
2018 7,626 9,421 8,775 7,806 33,628 Cola recently expanded its presence in the hot-beverage market through its acquisition of Costa, a leading coffee
year low
2019 8,020 9,997 9,507 9,068 36,592 company in the United Kingdom. The firm generates most of its revenue internationally.... (Read More)
Price: Close to 10-year high 2020 Competitors: NAS:PEP, OTCPK:COCSF, NYSE:KDP, NAS:MNST, LSE:CCEP, LSE:CCH, MEX:AC, TSE:2267 ,
ASX:CCL, TSE:2593, HKSE:00220, TSE:2579, BKK:OSP, SHSE:603156, HKSE:00345, NSE:VBL, LSE:BVIC,
PB Ratio: Close to 10-year Quarterly Earnings per Share XKLS:3689, BKK:CBG, LSE:FEVR
high
Mar Jun Sep Dec Full Year Insider Trades
PS Ratio: Close to 10-year 2016 0.34 0.79 0.24 0.13 1.50
high 2017 0.27 0.32 0.33 -0.65 0.27
2018 0.32 0.54 0.44 0.20 1.50
2019 0.39 0.61 0.60 0.47 2.07
Good Signs 2020
Operating Margin %: Quarterly Dividends Per Share
Expansion
Mar Jun Sep Dec Full Year
PE Ratio: Close to 3-year low 2016 0.35 0.35 0.35 0.35 1.40
Insider Buy: Insider Buying 2017 0.37 0.37 0.37 0.37 1.48
2018 0.39 0.39 0.39 0.39 1.56
2019 0.40 0.40 0.40 0.40 1.60
DCF 2020
GuruFocus does not Growth Rate
calculate intrinsic value: DCF
(Earnings Based) for Annual Rates(per share) 10-Y 5-Y 12-M
companies with one star Revenue Growth (%) 0.70 -4.80 8.30
predictability or not rated. But EBITDA Growth (%) -1.50 0.10 27.20
you can go to each stock's
DCF page to calculate Free Cash Flow Growth (%) 0.80 -1.90 38.00
yourself. Book Value Growth (%) -5.00 -5.00 11.50
EPS Growth (%) -5.80 -1.90 38.00
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/KO 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4.48 4.83 5.13 6.19 6.84 6.65 7.53 10.02 10.48 10.39 10.34 10.06 9.59 8.38 7.98 8.64 8.48 Revenue per Share
1.36 1.47 1.54 2.04 1.96 2.26 3.51 2.98 3.10 3.09 2.65 2.82 2.44 2.08 2.39 3.04 3.01 EBITDA per Share
1.17 1.27 1.34 1.79 1.70 2.00 3.20 2.56 2.66 2.65 2.20 2.38 2.03 1.79 2.13 2.72 2.70 EBIT per Share
1.00 1.02 1.08 1.29 1.25 1.47 2.53 1.85 1.97 1.90 1.60 1.67 1.49 0.29 1.50 2.07 2.07 Earnings per Share (diluted)
1.00 1.02 1.08 1.29 1.25 1.47 2.53 1.85 1.97 1.90 1.60 1.67 1.49 0.29 1.50 2.07 2.06 eps without NRI
0.94 1.13 0.96 1.33 1.03 1.39 2.73 1.72 1.91 1.86 1.46 1.58 1.18 0.63 0.94 2.00 2.00 Owner Earnings per Share (TTM)
1.07 1.15 0.97 1.18 1.20 1.33 1.57 1.41 1.72 1.77 1.85 1.81 1.50 1.22 1.41 1.95 1.95 Free Cashflow per Share
0.50 0.56 0.62 0.68 0.76 0.82 0.88 0.94 1.02 1.12 1.22 1.32 1.40 1.48 1.56 1.60 1.60 Dividends per Share
3.31 3.45 3.65 4.69 4.42 5.38 6.76 6.99 7.34 7.54 6.95 5.91 5.38 4.01 3.98 4.44 4.44 Book Value per Share
2.51 2.65 2.54 2.06 1.72 2.60 0.89 0.88 1.22 1.26 0.90 0.33 0.45 0.10 -1.08 -1.82 -1.82 Tangible Book per Share
1.49 1.20 0.99 2.01 2.01 2.58 5.11 6.31 7.30 8.42 9.56 10.20 10.66 11.20 10.36 9.99 9.99 Total Debt per Share
20.82 20.16 24.13 30.69 22.64 28.50 32.89 34.99 36.25 41.31 42.22 42.96 41.46 45.88 47.35 55.35 55.91 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
32.29 30.18 30.53 30.94 27.51 30.15 42.25 27.41 28.00 26.03 22.36 26.31 26.85 6.22 37.79 49.61 49.23 Return on Equity %
16.49 16.01 17.11 16.33 13.86 15.30 19.39 11.23 10.86 9.74 7.80 8.08 7.36 1.42 7.52 10.52 10.24 Return on Assets %
90.52 97.59 96.22 103 87.38 92.81 111 72.26 69.09 69.37 60.60 67.07 65.99 61.16 79.85 115 101 Return on Capital %
27.42 26.35 26.92 24.12 25.44 23.89 19.64 17.09 17.34 15.46 14.70 15.61 16.31 3.79 17.30 17.58 16.88 Return on Invested Capital %
6.89 9.62 7.89 7.43 5.67 7.22 6.67 4.45 3.63 3.96 5.64 6.18 5.76 4.77 4.34 3.47 2.85 Weighted Average Cost Of Capital (WACC) %
-- -- -- 6.56 4.70 3.35 4.16 1.60 1.30 1.33 1.23 1.99 1.63 1.83 2.07 2.18 2.09 Effective Interest Rate on Debt %
64.70 64.53 66.11 63.94 64.39 64.22 63.86 60.86 60.32 60.68 61.11 60.53 60.67 62.11 61.90 60.77 61.07 Gross Margin %
26.21 26.34 26.19 25.13 26.44 26.56 23.96 21.86 22.45 21.83 21.11 23.12 23.40 26.03 29.83 28.26 28.51 Operating Margin %
22.29 21.09 21.09 20.73 18.18 22.02 33.56 18.44 18.78 18.32 15.43 16.60 15.59 3.45 18.76 23.94 24.38 Net Margin %
23.98 23.91 18.89 19.07 17.54 19.98 20.83 14.08 16.38 17.06 17.85 18.00 15.60 14.61 17.72 22.59 23.00 FCF Margin %
0.45 0.35 0.27 0.43 0.46 0.48 0.76 0.90 1.00 1.12 1.38 1.73 1.98 2.79 2.60 2.25 2.25 Debt to Equity
0.51 0.56 0.57 0.50 0.51 0.51 0.43 0.40 0.38 0.37 0.33 0.28 0.26 0.19 0.20 0.22 0.22 Total Equity to Total Asset
0.23 0.19 0.15 0.22 0.23 0.24 0.32 0.36 0.38 0.41 0.45 0.49 0.52 0.54 0.53 0.50 0.50 Total Debt to Total Asset
47.86 48.99 53.63 50.39 49.10 44.63 36.89 37.05 34.87 32.27 30.88 29.46 28.66 25.68 24.82 26.71 25.67 Gross Profit to Total Asset %
0.74 0.76 0.81 0.79 0.76 0.70 0.58 0.61 0.58 0.53 0.51 0.49 0.47 0.41 0.40 0.44 0.42 Asset Turnover
0.50 0.55 0.57 0.53 0.61 0.56 0.35 0.51 0.52 0.59 0.76 0.79 0.94 5.10 1.04 0.77 0.77 Dividend Payout Ratio
37.67 36.04 39.20 41.96 35.31 44.26 46.04 38.58 36.18 37.96 35.44 32.48 33.62 36.96 39.21 38.89 39.61 Days Sales Outstanding
209 200 41.53 48.40 43.96 46.42 54.26 43.52 37.72 38.30 42.62 58.36 59.46 60.86 75.95 94.98 97.48 Days Accounts Payable
63.54 62.33 67.51 67.71 70.71 74.74 71.95 57.53 60.88 64.80 65.06 62.66 61.82 70.89 79.97 80.52 83.78 Days Inventory
-108 -102 65.18 61.27 62.06 72.58 63.73 52.59 59.34 64.46 57.88 36.78 35.98 46.99 43.23 24.43 25.91 Cash Conversion Cycle
5.74 5.86 5.41 5.39 5.16 4.88 5.07 6.34 6.00 5.63 5.61 5.83 5.90 5.15 4.56 4.53 4.36 Inventory Turnover
0.35 0.35 0.34 0.36 0.36 0.36 0.36 0.39 0.40 0.39 0.39 0.39 0.39 0.38 0.38 0.39 0.39 COGS to Revenue
0.06 0.06 0.06 0.07 0.07 0.07 0.07 0.06 0.07 0.07 0.07 0.07 0.07 0.07 0.08 0.09 0.09 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/KO 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
21,742 23,104 24,088 28,857 31,944 30,990 35,119 46,542 48,017 46,854 45,998 44,294 41,863 36,212 34,300 37,266 36,592 Revenue
7,674 8,195 8,164 10,406 11,374 11,088 12,693 18,215 19,053 18,421 17,889 17,482 16,465 13,721 13,067 14,619 14,244 Cost of Goods Sold
14,068 14,909 15,924 18,451 20,570 19,902 22,426 28,327 28,964 28,433 28,109 26,812 25,398 22,491 21,233 22,647 22,348 Gross Profit
64.70 64.53 66.11 63.94 64.39 64.22 63.86 60.86 60.32 60.68 61.11 60.53 60.67 62.11 61.90 60.77 61.07 Gross Margin %
8,370 8,824 9,616 10,945 11,774 11,358 13,194 17,422 17,738 17,310 17,218 16,427 15,370 12,834 11,002 12,103 11,903 Selling, General, & Admin. Expense
-- -- -- 254 350 313 819 732 447 895 1,183 145 233 231 -2.00 11.00 11.00 Other Operating Expense
5,698 6,085 6,308 7,252 8,446 8,231 8,413 10,173 10,779 10,228 9,708 10,240 9,795 9,426 10,233 10,533 10,434 Operating Income
26.21 26.34 26.19 25.13 26.44 26.56 23.96 21.86 22.45 21.83 21.11 23.12 23.40 26.03 29.83 28.26 28.51 Operating Margin %
-- -- -- 236 333 249 317 483 471 534 594 613 642 679 689 563 559 Interest Income
-- -- -- -456 -438 -355 -733 -417 -397 -463 -483 -856 -733 -853 -950 -946 -933 Interest Expense
-- -- -- -220 -105 -106 -416 66.00 74.00 71.00 111 -243 -91.00 -174 -261 -383 -374 Net Interest Income
524 605 270 841 -835 821 6,210 1,219 956 1,178 -494 -392 -1,568 -2,362 -1,747 636 633 Other Income (Expense)
-- -- -- -- -67.00 -82.00 -50.00 -62.00 -67.00 -42.00 -26.00 -15.00 -23.00 -35.00 -42.00 -65.00 -65.00 Other Income (Minority Interest)
6,222 6,690 6,578 7,873 7,506 8,946 14,207 11,458 11,809 11,477 9,325 9,605 8,136 6,890 8,225 10,786 10,693 Pre-Tax Income
-1,375 -1,818 -1,498 -1,892 -1,632 -2,040 -2,370 -2,812 -2,723 -2,851 -2,201 -2,239 -1,586 -5,607 -1,749 -1,801 -1,765 Tax Provision
22.10 27.17 22.77 24.03 21.74 22.80 16.68 24.54 23.06 24.84 23.60 23.31 19.49 81.38 21.26 16.70 16.51 Tax Rate %
4,847 4,872 5,080 5,981 5,874 6,906 11,837 8,646 9,086 8,626 7,124 7,366 6,550 1,283 6,476 8,985 8,928 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -- -- -- -- -- -- 101 -251 -- 57.00 Net Income (Discontinued
Operations)
4,847 4,872 5,080 5,981 5,807 6,824 11,787 8,584 9,019 8,584 7,098 7,351 6,527 1,248 6,434 8,920 8,920 Net Income
22.29 21.09 21.09 20.73 18.18 22.02 33.56 18.44 18.78 18.32 15.43 16.60 15.59 3.45 18.76 23.94 24.38 Net Margin %
1.00 1.02 1.08 1.30 1.26 1.48 2.55 1.88 2.00 1.94 1.62 1.69 1.51 0.29 1.51 2.09 2.09 EPS (Basic)
1.00 1.02 1.08 1.29 1.25 1.47 2.53 1.85 1.97 1.90 1.60 1.67 1.49 0.29 1.50 2.07 2.07 EPS (Diluted)
4,858 4,786 4,700 4,662 4,672 4,658 4,667 4,646 4,584 4,509 4,450 4,405 4,367 4,324 4,299 4,314 4,323 Shares Outstanding (Diluted
Average)
893 932 938 1,163 1,228 1,236 1,443 1,954 1,982 1,977 1,976 1,970 1,787 1,260 1,086 1,365 1,365 Depreciation, Depletion and
Amortization
6,591 7,017 7,246 9,492 9,172 10,537 16,383 13,829 14,188 13,917 11,784 12,431 10,656 9,003 10,261 13,097 12,991 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/KO 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6,707 4,701 2,440 4,093 4,701 7,021 8,517 12,803 8,442 10,414 8,958 7,309 8,555 6,006 9,077 6,480 6,480 Cash And Cash Equivalents
61.00 66.00 150 215 278 2,192 2,820 1,232 8,109 9,854 12,717 12,591 13,646 14,669 7,038 4,695 4,695 Marketable Securities
6,768 4,767 2,590 4,308 4,979 9,213 11,337 14,035 16,551 20,268 21,675 19,900 22,201 20,675 16,115 11,175 11,175 Cash, Cash Equivalents, Marketable
Securities
2,244 2,281 2,587 3,317 3,090 3,758 4,430 4,920 4,759 4,873 4,466 3,941 3,856 3,667 3,685 3,971 3,971 Accounts Receivable
-- 704 923 1,199 1,191 1,366 1,425 1,680 1,773 1,692 1,615 1,564 1,565 1,729 2,025 2,180 2,180 Inventories, Raw Materials &
Components
-- 512 548 789 706 697 1,029 1,198 1,171 1,240 1,134 1,032 844 693 773 851 851 Inventories, Finished Goods
1,420 163 170 232 290 291 196 214 320 345 351 306 266 233 273 348 348 Inventories, Other
1,420 1,379 1,641 2,220 2,187 2,354 2,650 3,092 3,264 3,277 3,100 2,902 2,675 2,655 3,071 3,379 3,379 Total Inventories
1,849 1,778 1,623 2,260 1,920 2,226 3,162 3,450 5,754 2,886 3,745 6,652 5,278 9,548 2,059 1,886 1,886 Other Current Assets
12,281 10,205 8,441 12,105 12,176 17,551 21,579 25,497 30,328 31,304 32,986 33,395 34,010 36,545 24,930 20,411 20,411 Total Current Assets
-- -- -- 7,777 5,779 6,755 7,585 8,374 10,448 11,512 13,625 15,788 17,249 21,952 20,279 19,879 19,879 Investments And Advances
479 447 495 731 657 699 1,122 1,141 997 1,011 972 717 589 334 485 659 659 Land And Improvements
2,822 2,692 3,020 3,539 3,408 3,816 4,883 5,240 5,307 5,605 5,541 4,914 4,574 3,917 4,322 4,576 4,576 Buildings And Improvements
6,138 6,739 7,889 10,174 10,335 11,952 15,701 15,504 16,203 17,551 18,745 16,723 16,093 12,198 12,804 13,686 13,686 Machinery, Furniture, Equipment
230 306 507 -- -- -- -- 1,266 979 865 -- -- -- -- -- -- -- Construction In Progress
10,149 10,184 11,911 14,444 14,400 16,467 21,706 23,151 23,486 25,032 25,258 22,354 21,256 16,449 17,611 18,921 18,921 Gross Property, Plant and Equipment
-4,058 -4,353 -5,008 -5,951 -6,074 -6,906 -6,979 -8,212 -9,010 -10,065 -10,625 -9,783 -10,621 -8,246 -8,013 -8,083 -8,083 Accumulated Depreciation
6,091 5,831 6,903 8,493 8,326 9,561 14,727 14,939 14,476 14,967 14,633 12,571 10,635 8,203 9,598 10,838 10,838 Property, Plant and Equipment
3,836 3,821 5,135 12,219 12,505 12,828 26,909 27,669 27,337 27,611 26,372 24,132 21,128 16,636 21,587 26,766 26,766 Intangible Assets
-- 1,047 1,403 4,256 4,029 4,224 11,665 12,219 12,255 12,312 12,100 11,289 10,629 9,401 14,109 16,764 16,764 Goodwill
9,233 9,570 9,484 2,675 1,733 1,976 2,121 3,495 3,585 4,661 4,407 4,110 4,248 4,560 6,822 8,487 8,487 Other Long Term Assets
31,441 29,427 29,963 43,269 40,519 48,671 72,921 79,974 86,174 90,055 92,023 89,996 87,270 87,896 83,216 86,381 86,381 Total Assets
4,403 4,493 929 1,380 1,370 1,410 1,887 2,172 1,969 1,933 2,089 2,795 2,682 2,288 2,719 3,804 3,804 Accounts Payable
-- -- -- 258 252 264 273 767 860 759 911 775 679 757 773 856 856 Total Tax Payable
5,112 5,290 5,622 7,173 6,457 6,657 8,859 8,323 8,106 8,953 8,637 8,312 8,248 8,304 9,026 10,705 10,705 Accounts Payable & Accrued
Expense
6,021 4,546 3,268 6,052 6,531 6,800 9,376 14,912 17,874 17,925 22,682 15,805 16,025 16,503 18,838 15,247 15,247 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- 743 692 -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- -- -- -- -- -- -- -- 743 692 -- -- -- -- DeferredTaxAndRevenue
-- -- -- -- -- 264 273 1,048 1,841 933 1,055 2,069 1,567 2,387 918 1,021 1,021 Other Current Liabilities
11,133 9,836 8,890 13,225 12,988 13,721 18,508 24,283 27,821 27,811 32,374 26,929 26,532 27,194 28,782 26,973 26,973 Total Current Liabilities
1,157 1,154 1,314 3,277 2,781 5,059 14,041 13,656 14,736 19,154 19,063 28,311 29,684 31,182 25,376 27,516 27,516 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Capital Lease Obligation
1,157 1,154 1,314 3,277 2,781 5,059 14,041 13,656 14,736 19,154 19,063 28,311 29,684 31,182 25,376 27,516 27,516 Long-Term Debt & Capital Lease
Obligation
0.45 0.35 0.27 0.43 0.46 0.48 0.76 0.90 1.00 1.12 1.38 1.73 1.98 2.79 2.60 2.25 2.25 Debt to Equity
402 352 608 1,890 877 1,580 4,261 4,694 4,981 6,152 5,636 4,691 3,753 2,522 2,354 2,284 2,284 NonCurrent Deferred Liabilities
-- -- -- -- 390 547 314 286 378 267 241 210 158 1,905 2,077 2,117 2,117 Minority Interest
2,814 1,730 2,231 3,133 3,011 2,965 4,794 5,420 5,468 3,498 4,389 4,301 4,081 8,021 7,646 8,510 8,510 Other Long-Term Liabilities
15,506 13,072 13,043 21,525 19,657 23,325 41,604 48,053 53,006 56,615 61,462 64,232 64,050 68,919 64,158 65,283 65,283 Total Liabilities
875 877 878 880 880 880 880 1,760 1,760 1,760 1,760 1,760 1,760 1,760 1,760 1,760 1,760 Common Stock
29,105 31,299 33,468 36,235 38,513 41,537 49,278 53,621 58,045 61,660 63,408 65,018 65,502 60,430 63,234 65,855 65,855 Retained Earnings
-1,348 -1,669 -1,291 626 -2,674 -757 -1,450 -2,774 -3,385 -3,432 -5,777 -10,174 -11,205 -10,305 -12,814 -13,544 -13,544 Accumulated other comprehensive
income (loss)
4,928 5,492 5,983 7,378 7,966 8,537 10,057 10,332 11,379 12,276 13,154 14,016 14,993 15,864 16,520 17,154 17,154 Additional Paid-In Capital
-17,625 -19,644 -22,118 -23,375 -24,213 -25,398 -27,762 -31,304 -35,009 -39,091 -42,225 -45,066 -47,988 -50,677 -51,719 -52,244 -52,244 Treasury Stock
15,935 16,355 16,920 21,744 20,472 24,799 31,003 31,635 32,790 33,173 30,320 25,554 23,062 17,072 16,981 18,981 18,981 Total Equity
0.51 0.56 0.57 0.50 0.51 0.51 0.43 0.40 0.38 0.37 0.33 0.28 0.26 0.19 0.20 0.22 0.22 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/KO 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,847 4,872 5,080 5,981 5,874 6,906 11,837 8,646 9,086 8,626 7,124 7,366 6,550 1,283 6,476 8,985 8,985 Net Income
-- -- -- 9.00 -42.00 61.00 151 7.00 -130 168 415 -137 158 292 -50.00 91.00 91.00 Net Foreign Currency Exchange
Gain
4,847 4,872 5,080 5,981 5,874 6,906 11,837 8,646 9,086 8,626 7,124 7,366 6,550 1,283 6,476 8,985 8,985 Net Income From Continuing
Operations
893 932 938 1,163 1,228 1,236 1,443 1,954 1,982 1,977 1,976 1,970 1,787 1,260 1,086 1,365 1,365 Depreciation, Depletion and
Amortization
-5.00 -79.00 -214 -406 148 -404 -41.00 -562 -33.00 28.00 -253 -212 -28.00 -108 27.00 -158 -- Change In Receivables
-57.00 -79.00 -150 -258 -165 -50.00 182 -447 -286 -105 35.00 -250 -142 -276 -203 -183 -- Change In Inventory
-397 244 -152 -244 63.00 -332 -148 -350 -29.00 -163 194 123 279 506 -221 -87.00 -- Change In Prepaid Assets
45.00 280 173 947 -697 400 390 -69.00 214 -136 -99.00 698 210 -732 -268 1,414 -- Change In Payables And Accrued
Expense
-617 430 -615 6.00 -755 -564 370 -1,893 -1,080 -932 -439 -157 -225 3,442 -1,240 366 366 Change In Working Capital
162 -88.00 -35.00 109 -360 353 604 1,035 632 648 -40.00 73.00 -856 -1,252 -413 -280 -280 Change In DeferredTax
-- -- -- 313 266 241 380 354 259 227 209 236 258 219 225 201 201 Stock Based Compensation
683 277 589 -422 1,318 14.00 -5,102 -622 -234 -4.00 1,785 1,040 1,278 1,978 1,186 -166 -255 Cash Flow from Others
5,968 6,423 5,957 7,150 7,571 8,186 9,532 9,474 10,645 10,542 10,615 10,528 8,792 7,041 7,627 10,471 10,471 Cash Flow from Operations
-755 -899 -1,407 -1,648 -1,968 -1,993 -2,215 -2,920 -2,780 -2,550 -2,406 -2,553 -2,262 -1,750 -1,548 -2,054 -2,054 Purchase Of Property, Plant,
Equipment
341 88.00 112 239 129 104 134 101 143 111 223 85.00 150 108 248 978 978 Sale Of Property, Plant, Equipment
-- -- -- -5,653 -759 -300 -2,511 -971 -1,486 -353 -389 -2,491 -838 -3,809 -1,263 -5,542 -5,542 Purchase Of Business
-- -- -- 448 479 240 972 398 20.00 872 148 565 1,035
3,821 1,362 429 429 Sale Of Business
-46.00 -53.00 -82.00 -105 -244 -2,200 -4,711 -4,798 -14,824 -14,782 -17,800 -15,831 -16,626 -17,296 -7,789 -4,704 -4,704 Purchase Of Investment
161 33.00 640 448 -- -- 4,032 5,811 7,791 12,791 12,986 14,079 17,842 16,694 14,977 6,973 6,973 Sale Of Investment
-- -- -- -- -- -- -- -- -- -- -- -- -- -65.00 -421 -- -144 Cash From Discontinued Investing
Activities
-204 -665 -963 -448 -- -- -106 -145 -268 -303 -268 -40.00 -305 -15.00 361 -56.00 88.00 Cash From Other Investing Activities
-503 -1,496 -1,700 -6,719 -2,363 -4,149 -4,405 -2,524 -11,404 -4,214 -7,506 -6,186 -1,004 -2,312 5,927 -3,976 -3,976 Cash Flow from Investing
193 230 148 1,619 586 664 1,666 1,569 1,489 1,328 1,532 1,245 1,476 1,012 1,012 Issuance of Stock
1,434 1,595
-1,739 -2,055 -2,416 -1,838 -1,079 -1,518 -2,961 -4,513 -4,559 -4,832 -4,162 -3,564 -3,681 -3,682 -1,912 -1,103 -1,103 Repurchase of Stock
1,714 -2,282 -1,404 4,341 29.00 2,363 1,848 4,965 4,218 4,711 4,712 2,696 1,666 1,055 -2,995 -1,841 -1,841 Net Issuance of Debt
-2,429 -2,678 -2,911 -3,149 -3,521 -3,800 -4,068 -4,300 -4,595 -4,969 -5,350 -5,741 -6,043 -6,320 -6,644 -6,845 -3,323 Cash Flow for Dividends
-- -- -- -- -- -2.00 50.00 45.00 100.00 17.00 -363 251 79.00 -95.00 -272 -227 -7,072 Other Financing
-2,261 -6,785 -6,583 973 -3,985 -2,293 -3,465 -2,234 -3,347 -3,745 -3,631 -5,113 -6,545 -7,447 -10,347 -9,004 -9,004 Cash Flow from Financing
3,345 -2,006 -2,261 1,653 608 2,320 1,496 4,286 -4,361 1,972 -1,456 -1,649 1,238 -2,477 2,945 -2,581 -2,581 Net Change in Cash
-755 -899 -1,407 -1,648 -1,968 -1,993 -2,215 -2,920 -2,780 -2,550 -2,406 -2,553 -2,262 -1,750 -1,548 -2,054 -2,054 Capital Expenditure
5,213 5,524 4,550 5,502 5,603 6,193 7,317 6,554 7,865 7,992 8,209 7,975 6,530 5,291 6,079 8,417 8,417 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/KO 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
20.82 19.67 22.34 23.88 18.18 19.45 13.00 18.91 18.40 21.74 26.55 25.72 27.64 170 31.57 26.74 27.00 PE Ratio(TTM)
22.17 17.87 25.14 23.11 22.09 20.55 12.03 20.31 18.97 22.23 28.84 27.24 35.08 73.17 50.32 27.70 27.98 Price to Owner Earnings
(TTM)
6.30 5.84 6.61 6.54 5.12 5.29 4.86 5.01 4.94 5.48 6.08 7.27 7.71 11.45 11.90 12.48 12.61 Price to Book
8.29 7.62 9.49 14.93 13.16 10.97 36.83 39.94 29.71 32.68 46.70 131 91.93 450 -- -- -- Price to Tangible Book
19.39 17.50 24.93 26.01 18.87 21.44 20.99 24.80 21.12 23.29 22.88 23.73 27.71 37.48 33.46 28.38 28.68 Price-to-Free-Cash-Flow
Ratio
16.95 15.03 19.03 20.02 13.96 16.23 16.10 17.15 15.60 17.65 17.69 17.97 20.59 28.18 26.69 22.81 23.04 Price-to-Operating-Cash-
Flow Ratio
4.64 4.18 4.71 4.96 3.31 4.28 4.37 3.49 3.46 3.98 4.08 4.27 4.33 5.48 6.05 6.52 6.57 PS Ratio
1.96 3.25 4.93 3.12 1.56 1.67 0.93 1.06 1.43 2.14 13.55 -- -- -- -- -- 271 PEG Ratio
4.62 4.17 4.73 5.10 3.43 4.34 4.65 3.72 3.72 4.25 4.45 4.75 4.81 6.19 6.91 7.40 7.47 EV-to-Revenue
15.28 13.75 15.81 15.52 11.94 12.76 9.96 12.52 12.58 14.29 17.37 16.91 18.90 24.92 22.90 20.83 21.05 EV-to-EBITDA
17.68 15.85 18.18 17.69 13.79 14.46 10.92 14.58 14.62 16.66 20.86 20.09 22.71 28.97 25.65 23.28 23.51 EV-to-EBIT
5.66 6.31 5.50 5.65 7.25 6.92 9.16 6.86 6.84 6.00 4.79 4.98 4.40 3.45 3.90 4.30 4.24 Return on Capital %
14.76 10.58 8.54 11.09 16.56 15.68 17.73 21.51 16.78 13.90 5.84 -1.30 0.70 -4.37 -4.12 0.54 0.51 Forward Rate of Return
26.46 24.05 27.29 32.56 23.28 26.38 25.36 24.74 23.31 24.87 24.92 24.52 22.95 26.46 26.71 30.07 30.39 Shiller PE Ratio
2.40 2.78 2.57 2.22 3.36 2.88 2.68 2.69 2.81 2.71 2.89 3.07 3.38 3.23 3.29 2.89 2.87 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
100,325 95,518 111,867 142,279 104,808 131,271 150,768 158,365 162,001 181,847 184,333 185,759 177,780 195,403 202,096 236,898 239,869 Market Cap
100,735 96,451 113,859 147,300 109,531 134,464 163,162 173,184 178,438 198,925 204,644 210,185 201,446 224,318 232,272 270,603 273,574 Enterprise Value
20.82 20.16 24.13 30.69 22.64 28.50 32.89 34.99 36.25 41.31 42.22 42.96 41.46 45.88 47.35 55.35 55.91 Month End Stock Price
-1.81 -1.75 -2.25 -3.71 -3.25 -3.18 -6.67 -7.58 -8.24 -8.32 -9.17 -10.30 -9.80 -11.77 -11.74 -13.14 -13.14 Net Cash (per share)
-0.67 -0.61 -0.99 -2.03 -1.70 -1.37 -4.44 -5.05 -5.16 -5.81 -6.58 -7.18 -7.04 -8.05 -9.68 -10.98 -10.98 Net Current Asset Value
(per share)
-1.32 -1.25 -1.66 -2.94 -2.52 -2.32 -5.66 -6.42 -7.08 -7.12 -8.05 -9.28 -8.81 -10.82 -10.74 -12.05 -12.05 Net-Net Working Capital
(per share)
10.82 12.57 13.32 16.75 18.57 19.66 23.09 24.68 26.69 27.35 24.45 21.25 20.72 19.29 18.66 19.11 19.11 Projected FCF (per share)
29.04 31.26 31.05 36.01 37.12 33.18 36.00 46.17 46.91 44.67 42.34 40.42 38.52 33.66 31.86 35.37 35.37 Median PS (per share)
10.61 6.20 6.25 9.84 14.54 17.04 35.45 32.87 25.33 19.34 -- -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
7.52 7.79 7.86 7.71 6.94 9.26 7.13 6.04 7.35 7.35 5.70 3.52 3.89 0.82 -- -- -- Graham Number (per share)
9.40 11.39 11.87 11.92 13.40 14.35 14.05 15.23 16.97 17.83 17.85 17.34 18.56 11.50 11.60 11.12 11.12 Earnings Power Value
(EPV)
6.57 7.42 8.22 6.37 5.94 5.93 4.33 4.01 3.84 3.89 3.62 3.71 3.63 3.49 3.66 4.02 4.05 Altman Z-Score
7.00 5.00 7.00 5.00 7.00 6.00 3.00 5.00 6.00 6.00 6.00 6.00 6.00 6.00 7.00 5.00 5.00 Piotroski F-Score
-2.74 -2.76 -2.49 -2.44 -2.67 -2.51 -2.54 -2.49 -2.67 -2.63 -2.74 -2.77 -2.56 -2.70 -2.30 -2.49 -2.49 Beneish M-Score
0.60 0.55 0.64 0.89 0.58 0.69 0.89 0.64 0.62 0.58 0.56 0.54 0.52 0.53 0.54 0.63 0.60 Scaled Net Operating
Assets
-1.97 -0.19 2.75 12.83 1.48 5.73 9.13 2.04 11.35 2.51 4.33 3.34 -1.44 -3.96 -8.56 2.81 2.81 Sloan Ratio (%)
1.10 1.04 0.95 0.92 0.94 1.28 1.17 1.05 1.09 1.13 1.02 1.24 1.28 1.34 0.87 0.76 0.76 Current Ratio
0.98 0.90 0.76 0.75 0.77 1.11 1.02 0.92 0.97 1.01 0.92 1.13 1.18 1.25 0.76 0.63 0.63 Quick Ratio
26.50 22.63 24.50 32.05 32.78 29.56 32.89 35.62 40.56 43.09 44.83 43.84 46.89 47.43 50.51 55.77 60.13 Highest Stock Price
19.33 20.16 20.05 22.95 20.51 18.93 25.02 30.80 33.50 36.25 37.10 37.99 40.17 40.44 41.55 44.69 44.42 Lowest Stock Price
1.32 1.67 2.15 -- 0.14 0.50 0.48 1.27 1.26 1.50 0.82 0.96 0.83 0.68 -0.21 -0.28 -0.28 Shares Buyback Ratio (%)
4.73 7.84 6.17 20.78 10.45 -2.69 13.11 33.13 4.56 -0.80 -0.52 -2.73 -4.66 -12.63 -4.73 8.26 8.44 YoY Rev. per Sh. Growth
(%)
12.99 2.00 5.88 18.98 -3.11 17.67 72.70 -26.88 6.49 -3.55 -15.79 4.37 -10.78 -80.54 417 38.00 38.00 YoY EPS Growth (%)
10.06 8.03 5.18 32.04 -3.59 15.23 55.17 -15.19 3.96 -0.29 -14.19 6.57 -13.54 -14.67 14.65 27.19 27.63 YoY EBITDA Growth (%)
10.61 6.05 4.53 7.66 11.68 11.63 14.01 17.77 12.86 10.18 1.96 -5.23 -3.44 -7.93 -7.42 -2.32 0.10 EBITDA 5-Y Growth (%)
4,852 4,784 4,696 4,626 4,630 4,628 4,616 4,568 4,504 4,434 4,387 4,352 4,317 4,272 4,259 4,276 4,285 Shares Outstanding (Basic
Average)
4,819 4,738 4,636 4,636 4,629 4,606 4,584 4,526 4,469 4,402 4,366 4,324 4,288 4,259 4,268 4,280 4,290 Shares Outstanding (EOP)
0.51 0.97 0.59 0.62 0.60 0.63 0.60 0.49 0.39 0.25 0.74 0.83 0.74 0.56 0.42 0.32 0.32 Beta
03/04/05 02/28/06 02/21/07 02/28/08 02/26/09 02/26/10 02/28/11 02/23/12 02/27/13 02/27/14 02/25/15 02/25/16 02/24/17 02/23/18 02/21/19 02/24/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/KO 6/7
02/28/06 02/21/07 02/21/07 02/26/09 02/26/10 02/28/11 02/27/13 02/27/14 02/25/15 02/25/16 02/24/17 02/23/18 02/21/19 02/24/20 02/24/20 02/24/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/KO 7/7
Hanesbrands Inc (NYSE:HBI) 03/03/2020 2:00PM EST GuruFocus
Price: $ 12.48 -0.88(-6.59%) Market Cap: $ 4.52 B Enterprise Value: $8.09 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 7.53
Cash to Debt 0.08 Operating margin (%) 12.77
Forward P/E N/A
Equity to Asset 0.17 Net-margin (%) 8.62
PE(NRI) 7.53
Interest Coverage 4.98 ROE (%) 54.49
F-Score:
P/B 3.68
ROA (%) 7.89
7 P/S 0.64
Z-Score: ROC (Joel Greenblatt) (%) 33.84
2.34 PFCF 6.51
Revenue Growth (3Y)(%) 6.70
M-Score: POCF 5.67
-2.57 EBITDA Growth (3Y)(%) 6.00
EV-to-EBIT 9.09
WACC vs 7.54% EPS Growth (3Y)(%) 5.40
ROIC 15.57% PEG 0.66
WACC
ROIC Shiller P/E 12.66
Current Ratio 1.82
Quick Ratio 0.74
Days Inventory 181.15
Days Sales Outstanding 42.71
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year Hanesbrands manufactures basic and athletic apparel under brands including Hanes, Champion, Playtex, Bali, and
Bonds. The company sells wholesale to discount, midmarket, and department store retailers as well as direct to
slow down 2016 1,219 1,473 1,761 1,575 6,028 consumers. Hanesbrands is vertically integrated as it produces more than 70% of its products in company-controlled
2017 1,380 1,647 1,799 1,645 6,471 factories in more than three dozen nations. Hanesbrands distributes products in the Americas, Europe, and Asia-
Pacific. The company was founded in 1901 and is based in Winston-Salem, North Carolina.... (Read More)
2018 1,472 1,715 1,849 1,768 6,804
Good Signs Competitors: TSX:GIL , SHSE:600177 , SHSE:600398 , NAS:COLM, NYSE:PVH, NYSE:CPRI, WAR:LPP,
2019 1,588 1,761 1,867 1,751 6,967 NYSE:UAA, BOM:532827, BSP:GUAR3, HKSE:03998, TSX:GOOS, XTER:BOSS, SZSE:002563, NSE:ABFRL,
Piotroski F-Score: High 2020 NYSE:LEVI, SZSE:002239, NYSE:KTB, NYSE:RL, TSE:3591
Operating Margin %: Quarterly Earnings per Share Insider Trades
Expansion Mar Jun Sep Dec Full Year
Dividend Yield %: Close to 1- 2016 0.21 0.34 0.45 0.41 1.41
year high 2017 0.19 0.47 0.55 -1.06 0.15
2018 0.22 0.39 0.47 0.44 1.52
PE Ratio: Close to 10-year 2019 0.22 0.42 0.51 0.51 1.66
low 2020
PB Ratio: Close to 5-year low Quarterly Dividends Per Share
PS Ratio: Close to 5-year low Mar Jun Sep Dec Full Year
2016 0.11 0.11 0.11 0.11 0.44
DCF 2017 0.15 0.15 0.15 0.15 0.60
2018 0.15 0.15 0.15 0.15 0.60
EPS without NRI: $1.66 2019 0.15 0.15 0.15 0.15 0.60
Growth Rate in the next 10 2020
years: 15.40%
Terminal Growth Rate for 10 Growth Rate
years: 4% Annual Rates(per share) 10-Y 5-Y 12-M
Fair Value: $34.87
Revenue Growth (%) 7.20 8.40 2.10
EBITDA Growth (%) 10.30 12.20 2.30
Reverse DCF Free Cash Flow Growth (%) 21.80 24.60 25.80
Expected eps Growth Rate: - Book Value Growth (%) 9.30 9.30 40.10
0.69%
EPS Growth (%) 15.40 4.80 10.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HBI 1/7
Per Share Data
Jun04 Jun05 Jun06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.03 12.16 11.61 11.56 11.16 10.17 10.60 11.17 11.28 11.36 13.05 14.20 15.68 17.52 18.67 19.06 19.06 Revenue per Share
1.40 1.36 1.42 1.47 1.27 1.10 1.20 1.36 1.33 1.49 1.62 1.73 2.32 2.37 2.70 2.77 2.76 EBITDA per Share
1.10 1.06 1.13 1.12 0.97 0.85 0.97 1.13 1.10 1.27 1.38 1.47 2.05 2.07 2.37 2.43 2.43 EBIT per Share
1.17 0.57 0.84 0.33 0.34 0.14 0.54 0.67 0.41 0.81 0.99 1.06 1.40 0.20 1.48 1.64 1.66 Earnings per Share (diluted)
1.17 0.57 0.84 0.33 0.34 0.14 0.49 0.61 0.58 0.81 0.99 1.06 1.40 0.21 1.48 1.64 1.66 eps without NRI
-- -- -- -- -- 0.55 -0.07 0.08 0.90 1.22 1.03 0.36 1.24 1.39 1.46 1.89 1.89 Owner Earnings per Share (TTM)
1.06 1.14 1.04 0.68 -0.03 0.75 0.07 0.21 1.28 1.35 1.09 0.32 1.36 1.54 1.53 1.92 1.92 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- 0.15 0.30 0.40 0.44 0.60 0.60 0.60 0.60 Dividends per Share
7.26 6.76 8.38 0.76 0.50 0.88 1.46 1.75 2.26 3.09 3.46 3.26 3.23 1.91 2.41 3.38 3.38 Book Value per Share
6.14 6.76 7.31 -0.45 -0.76 -0.32 -0.12 0.20 0.85 0.57 -0.07 -0.66 -3.06 -5.23 -5.33 -4.16 -4.16 Tangible Book per Share
0.03 -- 2.59 6.13 5.98 5.13 5.54 5.22 3.86 4.24 4.95 6.65 9.88 11.01 11.02 10.66 10.66 Total Debt per Share
-- -- -- 6.79 3.19 6.03 6.35 5.47 8.96 17.57 27.91 29.43 21.57 20.91 12.53 14.85 12.48 Month End Stock Price
Ratios
Jun04 Jun05 Jun06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17.86 8.09 11.06 7.17 53.65 19.73 47.09 42.89 21.01 31.22 30.91 32.21 43.15 7.74 69.26 56.97 54.49 Return on Equity %
10.81 5.05 7.05 3.03 3.65 1.49 5.94 6.82 4.30 8.56 8.70 7.94 8.61 1.07 7.64 8.23 7.89 Return on Assets %
44.75 80.01 41.82 22.41 19.50 17.43 20.12 20.92 21.30 26.89 29.69 29.85 36.93 36.09 41.28 38.70 33.84 Return on Capital %
23.28 14.06 12.32 9.29 11.94 12.40 14.21 14.29 15.42 16.67 16.55 16.10 18.41 2.51 16.77 17.05 15.57 Return on Invested Capital %
-- -- -- -- 6.52 10.90 11.72 11.44 6.88 9.98 8.87 9.02 5.40 2.38 2.96 7.93 7.54 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 6.78 -- 7.34 7.49 7.70 6.36 5.25 5.15 4.81 4.53 4.90 4.53 4.18 Effective Interest Rate on Debt %
33.26 31.17 33.21 32.20 32.42 32.52 33.18 33.67 31.38 34.83 35.77 37.27 37.76 38.47 39.00 39.03 39.03 Gross Margin %
9.18 8.68 9.69 9.66 8.66 8.35 9.19 10.08 9.72 11.13 10.59 10.38 13.11 11.81 12.71 12.77 12.77 Operating Margin %
9.70 4.67 7.21 2.82 2.99 1.32 5.10 6.01 3.64 7.14 7.60 7.48 8.95 1.14 7.93 8.62 8.62 Net Margin %
8.80 9.39 8.95 5.86 -0.23 7.39 0.65 1.88 11.33 11.83 8.33 2.23 8.66 8.79 8.19 10.08 10.08 FCF Margin %
0.00 -- 0.31 8.08 12.09 5.85 3.79 2.99 1.71 1.37 1.43 2.04 3.06 5.78 4.56 3.15 3.15 Debt to Equity
0.64 0.61 0.66 0.08 0.05 0.10 0.15 0.17 0.24 0.30 0.27 0.23 0.18 0.10 0.12 0.17 0.17 Total Equity to Total Asset
0.00 -- 0.20 0.68 0.63 0.59 0.56 0.51 0.42 0.41 0.38 0.47 0.54 0.58 0.55 0.53 0.53 Total Debt to Total Asset
37.04 33.72 32.47 34.59 39.50 36.89 38.67 38.17 37.05 41.74 40.96 39.54 36.34 36.01 37.55 37.27 35.70 Gross Profit to Total Asset %
1.11 1.08 0.98 1.07 1.22 1.13 1.17 1.13 1.18 1.20 1.15 1.06 0.96 0.94 0.96 0.96 0.91 Asset Turnover
-- -- -- -- -- -- -- -- -- 0.19 0.30 0.38 0.31 2.86 0.41 0.37 0.37 Dividend Payout Ratio
41.42 -- 42.71 46.91 34.79 42.26 44.30 38.75 40.83 45.63 46.07 43.33 50.67 50.95 46.72 42.71 42.71 Days Sales Outstanding
22.72 -- 25.37 34.79 44.13 48.92 54.33 56.04 47.44 56.43 66.29 68.32 74.09 79.53 90.57 82.41 82.41 Days Accounts Payable
151 74.33 75.54 142 153 163 156 182 168 153 151 170 178 170 173 170 181 Days Inventory
169 74.33 92.88 154 144 156 146 165 161 143 130 145 154 142 129 131 141 Cash Conversion Cycle
2.43 4.91 4.83 2.58 2.39 2.24 2.34 2.01 2.17 2.38 2.43 2.15 2.05 2.14 2.11 2.14 2.01 Inventory Turnover
0.67 0.69 0.67 0.68 0.68 0.67 0.67 0.66 0.69 0.65 0.64 0.63 0.62 0.62 0.61 0.61 0.61 COGS to Revenue
0.28 0.14 0.14 0.26 0.28 0.30 0.29 0.33 0.32 0.27 0.27 0.29 0.30 0.29 0.29 0.28 0.30 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HBI 2/7
Income Statement
Jun04 Jun05 Jun06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4,633 4,684 4,473 4,475 4,249 3,891 4,146 4,434 4,526 4,628 5,325 5,732 6,028 6,471 6,804 6,967 6,967 Revenue
3,092 3,224 2,988 3,034 2,871 2,626 2,770 2,941 3,106 3,016 3,420 3,595 3,752 3,982 4,151 4,248 4,248 Cost of Goods Sold
1,541 1,460 1,485 1,441 1,377 1,265 1,376 1,493 1,420 1,612 1,904 2,136 2,276 2,489 2,653 2,719 2,719 Gross Profit
33.26 31.17 33.21 32.20 32.42 32.52 33.18 33.67 31.38 34.83 35.77 37.27 37.76 38.47 39.00 39.03 39.03 Gross Margin %
1,088 1,054 1,052 1,041 1,010 941 995 1,046 980 1,097 1,340 1,541 1,486 1,725 1,789 1,830 1,830 Selling, General, & Admin. Expense
27.47 0.00 -- -32.14 -0.00 -0.00 -- 0.00 -- -0.00 -- -0.00 -0.00 -- 0.00 -- -0.00 Other Operating Expense
425 406 433 432 368 325 381 447 440 515 564 595 790 764 865 890 890 Operating Income
9.18 8.68 9.69 9.66 8.66 8.35 9.19 10.08 9.72 11.13 10.59 10.38 13.11 11.81 12.71 12.77 12.77 Operating Margin %
-- -- -- -- -155 -- -150 -156 -137 -102 -96.39 -118 -153 -174 -195 -179 -179 Interest Expense
-- -- -- -- -155 163 -150 -156 -137 -102 -96.39 -118 -153 -174 -195 -179 -179 Net Interest Income
-24.41 -60.94 -17.18 -248 -49.63 -430 -20.22 -6.38 -40.32 -17.50 -2.60 -3.21 -66.16 -60.50 -26.39 -31.42 -31.42 Other Income (Expense)
401 346 416 184 163 58.28 211 285 263 396 465 474 571 529 644 680 680 Pre-Tax Income
48.68 -127 -93.83 -58.00 -35.87 -6.99 -17.89 -41.98 -30.50 -65.31 -60.45 -45.02 -34.27 -453 -104 -79.01 -79.01 Tax Provision
-12.14 36.76 22.54 31.50 22.00 12.00 8.50 14.75 11.60 16.50 13.00 9.50 6.00 85.64 16.15 11.62 11.62 Tax Rate %
450 219 322 126 127 51.28 193 243 232 330 405 429 537 75.98 540 601 601 Net Income (Continuing Operations)
-- -- -- -- -- -- 18.68 24.12 -67.76 -- -- -- 2.46 -2.10 -- -- -- Net Income (Discontinued
Operations)
450 219 322 126 127 51.28 211 267 165 330 405 429 539 73.88 540 601 601 Net Income
9.70 4.67 7.21 2.82 2.99 1.32 5.10 6.01 3.64 7.14 7.60 7.48 8.95 1.14 7.93 8.62 8.62 Net Margin %
1.17 0.57 0.84 0.33 0.34 0.14 0.55 0.68 0.42 0.83 1.01 1.07 1.41 0.20 1.48 1.65 1.66 EPS (Basic)
1.17 0.57 0.84 0.33 0.34 0.14 0.54 0.67 0.41 0.81 0.99 1.06 1.40 0.20 1.48 1.64 1.66 EPS (Diluted)
385 385 385 387 381 383 391 397 401 407 408 404 385 369 365 366 366 Shares Outstanding (Diluted
Average)
114 118 114 138 115 96.76 86.61 90.73 93.04 90.89 98.20 104 103 113 121 121 121 Depreciation, Depletion and
Amortization
540 524 548 570 483 421 467 538 533 606 662 699 893 877 986 1,011 1,011 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HBI 3/7
Balance Sheet
Jun04 Jun05 Jun06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
674 1,081 298 174 67.34 38.94 43.67 35.35 42.80 116 240 319 460 422 433 329 329 Cash And Cash Equivalents
674 1,081 298 174 67.34 38.94 43.67 35.35 42.80 116 240 319 460 422 433 329 329 Cash, Cash Equivalents, Marketable
Securities
526 -- 523 575 405 451 503 471 506 579 672 680 837 903 871 815 815 Accounts Receivable
-- -- 105 143 172 106 156 232 168 171 123 173 131 129 107 83.55 83.55 Inventories, Raw Materials &
Components
-- -- 196 156 117 101 109 130 144 143 197 201 185 227 183 137 137 Inventories, Work In Process
-- -- 936 818 1,001 842 1,058 1,246 942 970 1,217 1,440 1,524 1,519 1,767 1,686 1,686 Inventories, Finished Goods
1,313 -- -- -0.00 -- -- -- 0.00 -- -0.00 -- -- -- -0.00 0.00 -- -- Inventories, Other
1,313 -- 1,237 1,117 1,291 1,049 1,323 1,608 1,253 1,283 1,537 1,815 1,841 1,875 2,057 1,906 1,906 Total Inventories
140 -- 313 228 348 284 278 217 225 266 101 104 183 186 181 175 175 Other Current Assets
3,215 1,081 3,756 2,094 2,110 1,823 2,148 2,331 2,028 2,244 2,550 2,918 3,321 3,386 3,542 3,225 3,225 Total Current Assets
-- -- 29.02 37.97 29.63 28.54 26.12 25.38 26.29 28.90 48.11 43.89 43.73 45.88 44.98 44.54 44.54 Land And Improvements
-- -- 463 425 413 478 467 471 484 477 541 536 567 487 500 501 501 Buildings And Improvements
-- -- 1,125 1,014 952 895 869 880 886 872 891 928 977 1,064 1,098 1,085 1,085 Machinery, Furniture, Equipment
-- -- 32.24 33.75 106 28.97 31.90 31.08 13.16 20.86 51.44 42.13 49.89 33.92 34.64 33.63 33.63 Construction In Progress
601 -- 1,675 1,510 1,501 1,435 1,401 1,412 1,413 1,403 1,538 1,553 1,643 1,637 1,678 2,152 2,152 Gross Property, Plant and Equipment
-- -- -1,058 -976 -917 -832 -770 -776 -817 -823 -864 -903 -950 -1,014 -1,070 -1,076 -1,076 Accumulated Depreciation
601 -- 617 534 584 603 631 635 596 580 674 650 692 624 608 1,076 1,076 Property, Plant and Equipment
431 -- 415 462 469 458 609 603 553 1,004 1,414 1,535 2,384 2,570 2,797 2,757 2,757 Intangible Assets
279 -- 279 310 322 322 430 433 433 626 723 834 1,099 1,167 1,242 1,236 1,236 Goodwill
155 3,177 103 349 370 443 402 465 455 262 569 494 533 315 291 297 297 Other Long Term Assets
4,403 4,257 4,891 3,439 3,534 3,327 3,790 4,035 3,632 4,090 5,208 5,598 6,930 6,895 7,238 7,354 7,354 Total Assets
192 -- 208 289 347 352 412 452 404 466 621 673 762 868 1,030 959 959 Accounts Payable
1,553 -- 571 669 641 648 689 704 676 781 1,113 1,133 1,381 1,517 1,600 1,490 1,490 Accounts Payable & Accrued
Expense
5.32 -- 995 19.58 107 231 141 230 200 218 370 371 235 261 446 281 281 Current Portion of Long-Term Debt
10.89 -- 2.12 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
10.89 -- 2.12 -- -- -- -- -- -- -- -- -- -- -- -- -- -- DeferredTaxAndRevenue
-- -- 43.11 -- -- -- -- -- -- -- -0.00 -- 9.47 -- -- -- -- Other Current Liabilities
1,569 -- 1,612 689 748 879 829 934 876 999 1,482 1,504 1,626 1,779 2,046 1,771 1,771 Total Current Liabilities
-- -- -- 2,315 2,131 1,728 1,991 1,808 1,318 1,467 1,614 2,233 3,508 3,702 3,534 3,257 3,257 Long-Term Debt
7.20 -- 2.79 -- -- -- -- -- -- -- -- -- -- -- -- 358 358 Capital Lease Obligation
7.20 -- 2.79 2,315 2,131 1,728 1,991 1,808 1,318 1,467 1,614 2,233 3,508 3,702 3,534 3,615 3,615 Long-Term Debt & Capital Lease
Obligation
0.00 -- 0.31 8.08 12.09 5.85 3.79 2.99 1.71 1.37 1.43 2.04 3.06 5.78 4.56 3.15 3.15 Debt to Equity
-- -- -- -- 294 290 302 486 446 264 472 362 372 405 379 403 403 PensionAndRetirementBenefit
-- -- 5.01 -- -- -- -- -- -- -- -- -- -- -- -- -- -- NonCurrent Deferred Liabilities
28.73 1,655 42.19 146 176 95.29 105 126 105 129 253 223 202 323 407 327 327 Other Long-Term Liabilities
1,605 1,655 1,662 3,151 3,349 2,992 3,227 3,354 2,745 2,859 3,821 4,322 5,707 6,209 6,366 6,117 6,117 Total Liabilities
-- -- -- 0.95 0.94 0.95 0.96 0.98 0.98 1.00 4.01 3.92 3.79 3.60 3.61 3.62 3.62 Common Stock
-- -- -- 118 218 269 480 747 911 1,181 1,464 1,389 1,396 850 1,080 1,546 1,546 Retained Earnings
-32.37 -- 3,229 -28.92 -281 -223 -213 -333 -318 -237 -373 -395 -436 -439 -496 -618 -618 Accumulated other comprehensive
income (loss)
-- -- -- 199 248 288 295 267 292 285 291 278 260 271 285 304 304 Additional Paid-In Capital
2,797 2,602 3,229 289 185 335 563 681 887 1,231 1,387 1,276 1,224 686 872 1,237 1,237 Total Equity
0.64 0.61 0.66 0.08 0.05 0.10 0.15 0.17 0.24 0.30 0.27 0.23 0.18 0.10 0.12 0.17 0.17 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HBI 4/7
Cashflow Statement
Jun04 Jun05 Jun06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
450 219 322 126 127 51.28 211 267 165 330 405 429 539 73.88 540 601 601 Net Income
450 219 322 126 127 51.28 211 267 165 330 405 429 539 73.88 540 601 601 Net Income From Continuing
Operations
114 118 114 138 115 96.76 86.61 90.73 93.04 90.89 98.20 104 103 113 121 121 121 Depreciation, Depletion and
Amortization
2.55 -39.57 59.40 -81.40 164 -39.81 -0.33 26.59 -46.81 4.80 1.23 -21.97 -83.28 -31.66 10.27 45.16 45.16 Change In Receivables
-78.15 58.92 69.22 96.34 -183 249 -232 -288 314 83.75 -40.25 -290 136 23.75 -202 147 147 Change In Inventory
-49.62 35.05 -0.67 67.04 -35.30 -51.16 -23.21 29.01 -46.21 46.82 -1.34 34.19 -100 235 120 -171 -171 Change In Payables And Accrued
Expense
-136 99.76 123 63.50 -104 180 -244 -229 226 122 -20.79 -345 -104 224 -84.23 4.89 4.89 Change In Working Capital
31.26 66.71 -46.80 28.07 -1.45 -9.15 15.79 1.95 -32.58 14.62 -12.40 10.85 -8.84 161 26.61 41.82 41.82 Change In DeferredTax
-- -- -- -- 31.45 37.70 19.53 16.17 20.50 24.18 30.59 29.62 31.78 23.58 21.42 9.28 9.28 Stock Based Compensation
12.17 4.01 -2.76 3.20 8.91 57.85 27.09 23.32 34.74 3.89 7.97 -1.62 31.07 56.63 18.91 25.83 25.83 Cash Flow from Others
471 507 511 359 177 415 133 173 554 591 508 227 606 656 643 803 803 Cash Flow from Operations
-63.63 -67.14 -110 -96.63 -187 -127 -106 -90.10 -40.99 -43.63 -64.31 -99.38 -83.40 -87.01 -86.29 -101 -101 Purchase Of Property, Plant,
Equipment
-- -- -- 16.57 25.01 -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -1.70 -- -- -14.66 -- -223 -9.15 -- -560 -360 -193 -964 -62.25 -335 -25.23 0.00 Purchase Of Business
-- -- -- -- -- -- -- -- 12.70 -- -- -- -- 40.29 -- -- -- Sale Of Business
-- -- -- -- -- -- -- -- -- -- 64.38 -- -- -- -- -- -- Sale Of Investment
2.37 8.76 -0.58 -21.03 -0.64 37.98 45.12 13.62 0.42 6.09 2.06 15.40 80.83 4.46 2.56 16.66 -8.58 Cash From Other Investing Activities
-61.26 -60.08 -111 -101 -177 -88.84 -284 -85.63 -27.87 -597 -358 -277 -967 -105 -419 -110 -110 Cash Flow from Investing
-- -- -- 6.19 2.19 -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -44.47 -30.28 -- -- -- -- -- -- -351 -380 -400 -- -- -- Repurchase of Stock
-4.73 77.86 329 -203 -94.25 -355 148 -97.81 -523 162 110 674 1,073 90.95 34.16 -600 -600 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -59.44 -120 -161 -167 -220 -216 -217 -217 Cash Flow for Dividends
-21.08 -119 -1,511 -2.38 19.78 0.33 7.53 2.77 5.03 -8.77 -13.75 -28.59 -14.88 -56.80 -18.34 -7.32 -7.32 Other Financing
-25.81 -41.38 -1,182 -243 -105 -354 156 -95.04 -518 93.76 -23.77 133 511 -586 -200 -824 -824 Cash Flow from Financing
384 407 -783 18.26 -107 -28.40 4.73 -8.33 7.45 73.07 124 79.31 141 -38.68 34.17 -126 -126 Net Change in Cash
-63.63 -67.14 -110 -96.63 -187 -127 -106 -90.10 -40.99 -43.63 -64.31 -99.38 -83.40 -87.01 -86.29 -101 -101 Capital Expenditure
408 440 401 262 -9.56 288 26.81 83.38 513 548 444 128 522 569 557 702 702 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HBI 5/7
Valuation Ratios
Jun04 Jun05 Jun06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- 21.05 9.52 44.67 11.76 8.16 21.99 21.62 28.19 27.76 15.30 139 8.24 8.95 7.53 PE Ratio(TTM)
-- -- -- -- -- 10.88 -- 67.53 9.97 14.39 27.23 81.30 17.41 15.04 8.61 7.84 6.60 Price to Owner Earnings
(TTM)
-- -- -- 8.96 6.44 6.88 4.34 3.13 3.97 5.68 8.07 9.03 6.67 10.98 5.19 4.39 3.68 Price to Book
-- -- -- -- -- -- -- 27.35 10.57 30.88 -- -- -- -- -- -- -- Price to Tangible Book
-- -- -- 10.03 -- 8.14 93.38 26.55 7.06 13.07 25.70 86.30 15.63 13.46 8.21 7.73 6.51 Price-to-Free-Cash-Flow
Ratio
-- -- -- 7.33 6.76 5.61 18.68 12.57 6.53 12.10 22.42 50.31 13.50 11.68 7.10 6.76 5.67 Price-to-Operating-Cash-
Flow Ratio
-- -- -- 0.59 0.29 0.59 0.60 0.48 0.79 1.55 2.14 2.07 1.37 1.19 0.67 0.78 0.64 PS Ratio
-- -- -- -- -- -- 0.87 216 -- 3.52 4.35 3.71 1.33 11.12 0.57 0.69 0.66 PEG Ratio
-- -- -- 1.06 0.79 1.08 1.09 0.92 1.10 1.85 2.43 2.41 1.90 1.71 1.19 1.29 1.15 EV-to-Revenue
-- -- -- 8.32 6.97 10.01 9.69 7.56 9.37 14.12 19.53 19.76 12.82 12.63 8.19 8.90 8.02 EV-to-EBITDA
-- -- -- 10.98 9.15 13.00 11.90 9.07 11.35 16.61 22.93 23.21 14.49 14.49 9.34 10.11 9.09 EV-to-EBIT
-- -- -- 9.11 10.93 7.69 8.40 11.03 8.81 6.02 4.36 4.31 6.90 6.90 10.71 9.89 11.02 Return on Capital %
-- -- -- -- -- -- 20.63 6.09 3.14 10.45 9.51 10.46 16.66 18.26 24.70 22.40 23.45 Forward Rate of Return
-- -- -- -- -- -- -- -- -- -- 28.49 41.80 31.04 30.19 15.30 15.06 12.66 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- 0.85 1.07 1.36 2.04 2.87 4.79 4.04 4.80 Dividend Yield %
Valuation and Quality
Jun04 Jun05 Jun06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- 2,587 1,194 2,301 2,444 2,134 3,522 6,990 11,186 11,526 8,168 7,530 4,527 5,428 4,523 Market Cap
-- -- -- 4,747 3,365 4,221 4,531 4,136 4,997 8,559 12,930 13,810 11,450 11,072 8,075 8,995 8,091 Enterprise Value
-- -- -- 6.79 3.19 6.03 6.35 5.47 8.96 17.57 27.91 29.43 21.57 20.91 12.53 14.85 12.48 Month End Stock Price
-2.42 -1.49 -3.54 -7.81 -8.77 -7.74 -8.27 -8.51 -6.87 -6.90 -8.94 -10.22 -13.85 -16.07 -16.42 -15.84 -15.83 Net Cash (per share)
4.18 -1.49 5.44 -2.77 -3.31 -3.06 -2.81 -2.62 -1.82 -1.55 -3.17 -3.58 -6.30 -7.84 -7.82 -7.91 -7.91 Net Current Asset Value
(per share)
0.31 -1.49 -0.92 -5.21 -6.23 -5.48 -5.57 -5.54 -4.31 -4.19 -5.76 -6.60 -9.77 -11.58 -11.77 -11.56 -11.55 Net-Net Working Capital (per
share)
-- -- -- -- -- -- 4.22 4.72 6.35 8.08 11.09 10.87 15.39 19.99 20.72 21.32 21.32 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- -- -- -- 11.68 15.15 20.81 21.15 21.15 Median PS (per share)
-- -- -- -- -- -- 7.27 13.95 -- 4.99 6.42 7.93 16.22 1.88 22.12 21.43 21.43 Peter Lynch Fair Value (per
share)
12.70 9.29 11.73 -- -- -- -- 1.66 3.33 3.22 -- -- -- -- -- -- -- Graham Number (per share)
-- -- -- -- -- 1.97 5.76 8.12 10.09 11.60 13.91 12.92 13.05 5.80 6.98 8.40 8.40 Earnings Power Value
(EPV)
-- 0.30 1.10 2.51 2.26 2.27 2.46 2.54 3.11 3.77 3.77 3.62 2.65 2.46 2.21 2.40 2.34 Altman Z-Score
9,999 9,999 9,999 9,999 7.00 5.00 6.00 5.00 4.00 6.00 7.00 5.00 7.00 6.00 8.00 7.00 7.00 Piotroski F-Score
-- -- -- -- -2.72 -2.78 -2.24 -2.40 -2.76 -2.65 -2.35 -2.40 -2.23 -2.83 -2.56 -2.57 -2.57 Beneish M-Score
0.55 0.35 0.92 0.50 0.69 0.64 0.80 0.71 0.59 0.77 0.77 0.68 0.81 0.61 0.64 0.66 0.62 Scaled Net Operating
Assets
0.89 -5.36 -1.58 -3.83 3.59 -8.25 9.56 4.43 -9.94 8.23 4.89 8.55 12.99 -6.92 4.35 -1.27 -1.27 Sloan Ratio (%)
2.05 -- 2.33 3.04 2.82 2.07 2.59 2.50 2.32 2.25 1.72 1.94 2.04 1.90 1.73 1.82 1.82 Current Ratio
1.21 -- 1.56 1.42 1.10 0.88 0.99 0.77 0.88 0.96 0.68 0.73 0.91 0.85 0.73 0.74 0.74 Quick Ratio
-- -- -- 8.19 9.38 6.49 7.70 8.32 9.13 17.74 28.93 34.58 31.18 25.67 23.24 19.14 19.12 Highest Stock Price
-- -- -- 5.91 2.35 1.45 5.42 5.46 5.47 8.90 16.04 26.54 21.53 18.98 11.62 12.52 12.12 Lowest Stock Price
-- -- -- 1.11 1.74 -1.95 -0.85 -1.36 -0.77 -1.21 -0.75 2.28 3.31 4.90 -0.33 -1.16 -1.19 Shares Buyback Ratio (%)
-0.79 1.10 -4.50 -0.41 -3.47 -8.90 4.25 5.36 1.03 0.69 14.85 8.81 10.40 11.75 6.56 2.11 1.96 YoY Rev. per Sh. Growth
(%)
4.94 -51.39 47.58 -61.19 3.08 -59.70 300 24.54 -39.03 97.56 22.22 7.07 32.08 -85.71 640 10.81 9.21 YoY EPS Growth (%)
-17.78 -2.86 4.48 3.66 -13.91 -13.24 8.54 13.39 -1.92 11.96 9.07 6.72 34.12 2.15 13.95 2.26 2.07 YoY EBITDA Growth (%)
-- -- -- -- -- -- 14.77 0.04 -2.07 6.14 6.48 7.48 11.50 12.54 14.55 12.91 12.20 EBITDA 5-Y Growth (%)
385 385 385 384 377 381 386 391 395 399 402 400 382 368 364 365 365 Shares Outstanding (Basic
Average)
385 385 385 381 374 382 385 390 393 398 401 392 379 360 361 366 362 Shares Outstanding (EOP)
-- -- -- -- -- 2.29 2.07 2.13 0.92 1.34 1.22 1.27 0.56 0.18 0.50 1.59 1.56 Beta
09/28/06 08/10/06 09/28/06 02/19/08 02/11/09 02/09/10 02/16/11 02/17/12 02/06/13 02/06/14 02/06/15 02/05/16 02/03/17 02/09/18 02/11/19 02/11/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HBI 6/7
09/28/06 02/19/08 08/03/07 02/19/08 02/09/10 02/16/11 02/06/13 02/06/14 02/06/15 02/05/16 02/03/17 02/09/18 02/11/19 02/11/20 02/11/20 02/11/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HBI 7/7
Motorola Solutions Inc (NYSE:MSI) 03/03/2020 2:00PM EST GuruFocus
Price: $ 173.02 -0.47(-0.27%) Market Cap: $ 29.51 B Enterprise Value: $34.28 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 35.03
Cash to Debt 0.17 Operating margin (%) 21.67
Forward P/E N/A
Equity to Asset -0.07 Net-margin (%) 11.01
PE(NRI) 35.03
Interest Coverage 7.18 ROA (%) 8.61
F-Score:
P/S 3.84
ROC (Joel Greenblatt) (%) 88.47
5 PFCF 19.28
Z-Score: Revenue Growth (3Y)(%) 8.80
2.94 POCF 16.66
EBITDA Growth (3Y)(%) 5.70
M-Score: EV-to-EBIT 27.66
-2.57 EPS Growth (3Y)(%) 15.20
Shiller P/E 48.01
WACC vs 4.73%
ROIC 39.05% Current Ratio 1.21
WACC
ROIC Quick Ratio 1.08
Days Inventory 38.97
Days Sales Outstanding 65.35
Warning Signs Quarterly Revenues Company Description
Motorola Solutions provides communication infrastructure, devices, accessories, software and services. The company
Revenue per Share: Growth Mar Jun Sep Dec Full Year
operates two segments: products and systems integration, and services and software. The products and systems
slow down 2016 1,193 1,430 1,532 1,883 6,038 integration segment offers a portfolio of infrastructure, devices, accessories, video solutions, and the implementation,
2017 1,281 1,497 1,645 1,957 6,380 optimization, and integration of such systems, devices, and applications. The services and software segment provides
Dividend Yield %: Close to 5- a broad range of solution offerings for government, public safety, and commercial communication networks. It offers a
2018 1,468 1,760 1,862 2,254 7,344 variety of services such as repair, technical support and maintenance, monitoring, software updates, and
year low
2019 1,657 1,860 1,994 2,376 7,887 cybersecurity services.... (Read More)
Price: Close to 10-year high 2020 Competitors: SZSE:000063 , OSTO:ERIC A, SHSE:600745 , OHEL:NOKIA, NYSE:HPE, NAS:ZBRA,
SZSE:300454, NYSE:UI, SZSE:300628, HKSE:02018, NYSE:ZAYO, NYSE:JNPR, SHSE:688036, SZSE:300136,
PS Ratio: Close to 10-year Quarterly Earnings per Share NYSE:CIEN, NAS:LITE, SHSE:601138, SHSE:600498, SHSE:600487, HKSE:00285
high Mar Jun Sep Dec Full Year Insider Trades
Insider Sell: Insider Selling 2016 0.10 0.61 1.13 1.43 3.27
2017 0.45 0.78 1.25 -3.56 -1.08
2018 0.69 1.05 1.43 2.44 5.61
Good Signs 2019 0.86 1.18 1.51 1.39 4.94
Operating Margin %: 2020
Expansion Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.41 0.41 0.41 0.47 1.70
GuruFocus does not 2017 0.47 0.47 0.47 0.52 1.93
calculate intrinsic value: DCF 2018 0.52 0.52 0.52 0.57 2.13
(Earnings Based) for 2019 0.57 0.57 0.57 0.64 2.35
companies with one star 2020
predictability or not rated. But Growth Rate
you can go to each stock's
DCF page to calculate Annual Rates(per share) 10-Y 5-Y 12-M
yourself. Revenue Growth (%) 3.90 13.70 5.20
EBITDA Growth (%) 0.00 0.00 -6.10
Reverse DCF Free Cash Flow Growth (%) 0.00 0.00 75.70
GuruFocus does not Book Value Growth (%) 0.00 0.00 0.00
calculate reverse DCF growth EPS Growth (%) 0.00 0.00 -11.90
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSI 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
84.00 97.68 120 111 93.15 55.34 22.53 24.15 21.08 23.02 23.95 28.22 34.88 39.17 42.69 44.92 44.91 Revenue per Share
10.00 14.26 13.00 2.23 -4.88 1.07 3.65 3.64 3.83 4.33 -3.42 6.21 7.88 10.03 9.90 9.29 9.29 EBITDA per Share
8.40 12.77 11.44 -0.51 -7.44 -0.89 2.61 2.56 3.33 3.74 -4.13 5.47 6.18 7.93 7.80 7.05 7.05 EBIT per Share
4.38 12.67 10.22 -0.14 -13.09 -0.14 1.87 3.41 2.96 4.06 5.29 3.02 3.24 -0.95 5.62 4.95 4.94 Earnings per Share (diluted)
6.00 12.53 9.10 -0.35 -13.09 -1.12 0.72 2.20 2.25 3.45 -2.84 3.17 3.24 -0.95 5.62 4.95 4.94 eps without NRI
3.74 15.16 9.09 -0.06 -8.96 -0.92 2.35 2.25 1.90 1.94 -3.33 4.80 5.05 6.48 4.75 6.35 6.35 Owner Earnings per Share (TTM)
10.93 10.42 7.97 0.78 -0.81 1.30 5.27 2.03 3.03 2.87 -2.94 4.19 5.17 6.87 5.11 8.97 8.97 Free Cashflow per Share
1.12 1.12 1.33 1.40 1.40 -- -- 0.44 0.96 1.14 1.30 1.43 1.70 1.93 2.13 2.35 2.35 Dividends per Share
38.12 46.66 50.20 47.96 29.23 29.59 32.37 16.36 11.83 14.38 12.44 -0.61 -5.85 -10.81 -7.91 -4.09 -4.09 Book Value per Share
33.79 46.66 50.20 28.95 20.51 18.82 21.95 11.73 5.96 12.94 10.60 -3.30 -15.26 -21.97 -24.69 -23.90 -23.90 Tangible Book per Share
15.15 11.91 12.88 13.42 12.87 11.81 8.32 4.82 6.75 9.67 15.47 24.95 26.69 27.74 32.54 33.55 33.55 Total Debt per Share
70.44 92.52 84.20 65.69 18.14 31.78 37.15 46.29 55.68 67.50 67.08 68.45 82.89 90.34 115 161 173 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.78 30.52 21.65 -0.30 -34.01 -0.53 6.13 14.39 20.78 31.74 40.63 46.41 -- -- -- -- -- Return on Equity %
4.86 13.72 9.84 -0.13 -13.54 -0.19 2.47 5.86 6.62 8.96 11.66 6.50 6.66 -1.86 10.97 8.66 8.61 Return on Assets %
67.03 169 117 -2.56 -41.49 -12.68 43.21 61.90 114 134 -152 193 168 157 153 101 88.47 Return on Capital %
19.84 46.19 48.08 -0.40 -31.30 -5.33 5.68 30.18 43.33 48.50 22.45 37.08 37.59 -9.37 57.69 43.44 39.05 Return on Invested Capital %
8.93 9.39 12.49 11.04 11.16 11.95 11.51 8.79 7.76 6.51 4.84 3.89 4.52 3.96 6.59 5.26 4.73 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.27 5.22 6.48 6.09 6.36 6.11 5.02 4.80 5.15 4.85 4.90 4.28 4.05 Effective Interest Rate on Debt %
33.59 32.41 29.68 27.17 27.85 31.64 50.05 50.54 50.95 49.93 48.14 47.74 47.52 47.40 47.39 49.84 49.84 Gross Margin %
10.00 13.07 9.54 -0.46 -7.48 -2.71 10.19 12.17 14.85 16.33 16.36 18.79 19.94 20.78 19.32 21.68 21.67 Operating Margin %
5.16 12.98 8.54 -0.13 -14.08 -0.28 8.31 14.12 14.05 17.65 22.09 10.71 9.27 -2.43 13.16 11.01 11.01 Net Margin %
13.01 10.66 6.65 0.70 -0.87 2.34 23.37 8.39 14.36 12.45 -12.29 14.86 14.81 17.54 11.96 19.97 19.97 FCF Margin %
0.40 0.26 0.26 0.28 0.44 0.40 0.26 0.29 0.57 0.67 1.24 -41.03 -4.56 -2.57 -4.11 -8.21 -8.21 Debt to Equity
0.43 0.47 0.44 0.44 0.34 0.38 0.43 0.37 0.26 0.31 0.26 -0.01 -0.11 -0.21 -0.14 -0.07 -0.07 Total Equity to Total Asset
0.17 0.12 0.11 0.12 0.15 0.15 0.11 0.11 0.15 0.21 0.33 0.52 0.52 0.55 0.57 0.54 0.54 Total Debt to Total Asset
31.62 34.26 34.22 27.12 26.79 21.47 14.90 20.99 24.01 25.35 25.42 28.97 34.14 36.28 39.51 39.21 39.00 Gross Profit to Total Asset %
0.94 1.06 1.15 1.00 0.96 0.68 0.30 0.42 0.47 0.51 0.53 0.61 0.72 0.77 0.83 0.79 0.78 Asset Turnover
0.19 0.09 0.15 -- -- -- -- 0.20 0.43 0.33 0.25 0.45 0.53 -- 0.38 0.48 0.47 Dividend Payout Ratio
55.68 58.50 63.92 53.06 42.29 57.22 157 83.03 110 80.24 87.45 87.29 85.24 87.13 64.27 65.35 65.35 Days Sales Outstanding
61.70 65.78 61.20 57.03 53.50 58.78 236 60.91 83.68 68.25 80.30 80.09 84.43 80.92 73.42 71.87 71.87 Days Accounts Payable
49.46 38.04 33.80 41.04 46.11 55.25 118 84.39 60.83 50.34 41.41 39.31 32.77 32.63 32.27 37.04 38.97 Days Inventory
43.44 30.76 36.52 37.07 34.90 53.69 38.47 107 86.67 62.33 48.56 46.51 33.58 38.84 23.12 30.52 32.45 Cash Conversion Cycle
7.38 9.59 10.80 8.89 7.92 6.61 3.09 4.33 6.00 7.25 8.82 9.29 11.14 11.19 11.31 9.85 9.37 Inventory Turnover
0.66 0.68 0.70 0.73 0.72 0.68 0.50 0.49 0.49 0.50 0.52 0.52 0.52 0.53 0.53 0.50 0.50 COGS to Revenue
0.09 0.07 0.07 0.08 0.09 0.10 0.16 0.11 0.08 0.07 0.06 0.06 0.05 0.05 0.05 0.05 0.05 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSI 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
29,663 35,262 42,879 36,622 30,146 18,147 7,617 8,203 6,269 6,227 5,881 5,695 6,038 6,380 7,343 7,887 7,887 Revenue
19,698 23,833 30,152 26,670 21,751 12,406 3,805 4,057 3,075 3,118 3,050 2,976 3,169 3,356 3,863 3,956 3,956 Cost of Goods Sold
9,965 11,429 12,727 9,952 8,395 5,741 3,812 4,146 3,194 3,109 2,831 2,719 2,869 3,024 3,480 3,931 3,931 Gross Profit
33.59 32.41 29.68 27.17 27.85 31.64 50.05 50.54 50.95 49.93 48.14 47.74 47.52 47.40 47.39 49.84 49.84 Gross Margin %
3,508 3,628 4,504 5,092 4,330 3,058 1,874 1,912 1,472 1,330 1,184 1,021 999 979 1,179 1,325 1,327 Selling, General, & Admin. Expense
3,316 3,600 4,106 4,429 4,109 2,598 1,037 1,035 790 761 681 620 553 568 637 687 686 Research & Development
175 -407 25.00 598 2,211 577 125 201 1.00 1.00 4.00 8.00 113 151 245 209 209 Other Operating Expense
2,966 4,608 4,092 -167 -2,255 -492 776 998 931 1,017 962 1,070 1,204 1,326 1,419 1,710 1,709 Operating Income
10.00 13.07 9.54 -0.46 -7.48 -2.71 10.19 12.17 14.85 16.33 16.36 18.79 19.94 20.78 19.32 21.68 21.67 Operating Margin %
-- -- -- -- 272 79.00 88.00 58.00 42.00 19.00 21.00 13.00 20.00 14.00 18.00 17.00 18.00 Interest Income
-- -- -- -- -224 -211 -217 -132 -108 -132 -147 -186 -225 -215 -240 -237 -238 Interest Expense
-- -- -- -- 48.00 -132 -129 -74.00 -66.00 -113 -126 -173 -205 -201 -222 -220 -220 Net Interest Income
146 1,804 518 -223 -426 121 17.00 -186 16.00 -24.00 -1,997 20.00 -155 -49.00 -95.00 -489 -488 Other Income (Expense)
-- -- -- -- -4.00 -23.00 -17.00 6.00 -- -6.00 -1.00 -3.00 -2.00 -4.00 -3.00 -3.00 -4.00 Other Income (Minority Interest)
3,112 6,412 4,610 -390 -2,633 -503 664 738 881 880 -1,161 917 844 1,076 1,102 1,001 1,001 Pre-Tax Income
-1,013 -1,893 -1,349 285 -1,607 159 -403 3.00 -211 59.00 465 -274 -282 -1,227 -133 -130 -130 Tax Provision
32.55 29.52 29.26 73.08 -61.03 31.61 60.69 -0.41 23.95 -6.70 40.05 29.88 33.41 114 12.07 12.99 12.99 Tax Rate %
2,099 4,519 3,261 -105 -4,240 -344 261 741 670 939 -696 643 562 -151 969 871 871 Net Income (Continuing Operations)
-567 59.00 400 56.00 -- 316 389 411 211 166 1,996 -30.00 -- -- -- -- -- Net Income (Discontinued
Operations)
1,532 4,578 3,661 -49.00 -4,244 -51.00 633 1,158 881 1,099 1,299 610 560 -155 966 868 868 Net Income
5.16 12.98 8.54 -0.13 -14.08 -0.28 8.31 14.12 14.05 17.65 22.09 10.71 9.27 -2.43 13.16 11.01 11.01 Net Margin %
4.38 12.95 10.50 -0.14 -13.09 -0.14 1.90 3.47 3.02 4.13 5.29 3.06 3.30 -0.95 5.95 5.21 5.20 EPS (Basic)
4.38 12.67 10.22 -0.14 -13.09 -0.14 1.87 3.41 2.96 4.06 5.29 3.02 3.24 -0.95 5.62 4.95 4.94 EPS (Diluted)
353 361 358 330 324 328 338 340 297 271 246 202 173 163 172 176 175 Shares Outstanding (Diluted
Average)
566 540 558 903 831 642 353 366 151 158 173 150 295 343 360 394 394 Depreciation, Depletion and
Amortization
3,532 5,148 4,650 736 -1,578 350 1,234 1,236 1,140 1,170 -841 1,253 1,364 1,634 1,702 1,632 1,633 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSI 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,846 3,774 3,212 2,752 3,064 2,869 4,208 1,881 1,468 3,225 3,954 1,980 967 1,205 1,257 1,001 1,001 Cash And Cash Equivalents
7,862 11,011 12,428 612 3,915 5,094 4,655 3,210 2,135 -- -- 438 46.00 -- -- -- -- Marketable Securities
10,708 14,785 15,640 3,364 6,979 7,963 8,863 5,091 3,603 3,225 3,954 2,418 1,013 1,205 1,257 1,001 1,001 Cash, Cash Equivalents, Marketable
Securities
4,525 5,652 7,509 5,324 3,493 2,845 3,268 1,866 1,881 1,369 1,409 1,362 1,410 1,523 1,293 1,412 1,412 Accounts Receivable
1,665 1,699 1,782 1,470 1,709 887 1,016 363 432 315 313 287 253 282 293 374 374 Inventories, Work In Process
-548 -529 -416 -371 -760 -673 -545 -170 -163 -125 -131 -142 -131 -133 -143 -136 -136 Inventories, Inventories
Adjustments
1,429 1,252 1,796 1,737 1,710 883 893 319 244 157 163 151 151 178 206 209 209 Inventories, Finished Goods
2,546 2,422 3,162 2,836 2,659 1,097 1,364 512 513 347 345 296 273 327 356 447 447 Total Inventories
2,350 5,163 4,664 10,698 4,232 4,127 3,659 912 893 1,567 602 125 206 194 186 171 171 Other Current Assets
21,115 28,022 30,975 22,222 17,363 16,032 17,154 8,768 7,401 7,020 6,879 4,619 3,468 3,950 4,272 4,178 4,178 Total Current Assets
-- -- -- -- 983 522 380 166 240 232 316 231 238 247 169 159 159 Investments And Advances
200 147 129 134 148 115 116 69.00 38.00 22.00 18.00 17.00 12.00 11.00 10.00 15.00 15.00 Land And Improvements
1,959 1,697 1,705 1,934 1,905 1,479 1,520 774 739 582 559 523 306 -- -- -- -- Buildings And Improvements
6,222 5,416 5,885 5,745 5,687 3,496 3,759 2,052 1,932 1,642 1,672 1,585 1,921 2,122 1,886 2,051 2,051 Machinery, Furniture, Equipment
8,381 7,260 7,719 7,813 7,740 5,090 5,395 2,895 2,709 2,246 2,249 2,125 2,239 2,449 2,258 3,030 3,030 Gross Property, Plant and Equipment
-6,049 -5,240 -5,452 -5,333 -5,298 -3,271 -3,666 -1,999 -1,870 -1,636 -1,700 -1,638 -1,450 -1,593 -1,363 -1,484 -1,484 Accumulated Depreciation
2,332 2,020 2,267 2,480 2,442 1,819 1,729 896 839 610 549 487 789 856 895 1,546 1,546 Property, Plant and Equipment
1,516 -- -- 6,123 2,837 3,560 3,504 1,476 1,619 367 406 469 1,549 1,799 2,744 3,394 3,394 Intangible Assets
-- -- -- 4,499 2,837 2,714 2,825 1,428 1,510 361 383 420 728 938 1,514 2,067 2,067 Goodwill
5,959 5,760 5,350 3,987 4,244 3,670 2,810 2,623 2,580 3,622 2,273 2,540 2,419 1,356 1,329 1,365 1,365 Other Long Term Assets
30,922 35,802 38,592 34,812 27,869 25,603 25,577 13,929 12,679 11,851 10,423 8,346 8,463 8,208 9,409 10,642 10,642 Total Assets
3,330 4,295 5,056 4,167 3,188 1,998 2,462 677 705 583 671 653 733 744 777 779 779 Accounts Payable
-- -- -- -- -- 246 293 126 95.00 85.00 91.00 48.00 111 107 111 95.00 95.00 Total Tax Payable
9,526 11,824 13,732 10,933 10,528 5,303 6,095 1,790 1,556 1,377 1,343 1,221 1,541 1,482 1,478 1,505 1,505 Accounts Payable & Accrued
Expense
717 448 1,693 332 92.00 536 605 405 4.00 4.00 4.00 4.00 4.00 52.00 31.00 138 138 Current Portion of Long-Term Debt
360 -- -- 1,235 -- 836 1,071 1,024 1,207 654 713 727 873 1,041 1,263 1,449 1,449 Current Deferred Revenue
360 -- -- 1,235 -- 836 1,071 1,024 1,207 654 713 727 873 1,124 1,263 1,449 1,449 DeferredTaxAndRevenue
-- 320 -- -- -- 1,586 939 596 568 1,185 190 241 250 273 324 347 347 Other Current Liabilities
10,603 12,592 15,425 12,500 10,620 8,261 8,710 3,815 3,335 3,220 2,250 2,193 2,668 2,931 3,096 3,439 3,439 Total Current Liabilities
4,581 3,806 2,704 3,991 4,092 3,365 2,194 1,130 1,859 2,457 3,396 4,345 4,392 4,419 5,289 5,113 5,113 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 497 497 Capital Lease Obligation
4,581 3,806 2,704 3,991 4,092 3,365 2,194 1,130 1,859 2,457 3,396 4,345 4,392 4,419 5,289 5,610 5,610 Long-Term Debt & Capital Lease
Obligation
0.40 0.26 0.26 0.28 0.44 0.40 0.26 0.29 0.57 0.67 1.24 -41.03 -4.56 -2.57 -4.11 -8.21 -8.21 Debt to Equity
-- -- -- -- -- -- -- 2,970 3,556 1,868 1,660 1,561 1,799 2,019 1,557 1,524 1,524 PensionAndRetirementBenefit
-- -- -- -- -- -- -- 275 304 162 139 125 308 284 415 458 458 NonCurrent Deferred Liabilities
-- -- -- -- 88.00 108 102 60.00 25.00 30.00 31.00 10.00 12.00 15.00 17.00 17.00 17.00 Minority Interest
2,407 2,731 3,321 2,874 3,562 4,094 3,686 465 335 455 212 218 248 282 328 294 294 Other Long-Term Liabilities
17,591 19,129 21,450 19,365 18,274 15,720 14,590 8,655 9,389 8,162 7,657 8,442 9,415 9,935 10,685 11,325 11,325 Total Liabilities
7,343 7,508 7,197 6,792 6,831 3.00 3.00 3.00 3.00 3.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 Common Stock
1,722 5,897 9,086 8,579 3,878 3,827 4,460 1,016 1,625 2,425 3,410 1,716 1,148 467 1,051 1,239 1,239 Retained Earnings
-55.00 -1,423 -1,650 -706 -2,205 -2,286 -2,222 -2,876 -3,300 -2,287 -1,855 -1,866 -2,317 -2,562 -2,765 -2,440 -2,440 Accumulated other comprehensive
income (loss)
4,321 4,691 2,509 782 1,003 8,231 8,644 7,071 4,937 3,518 1,178 42.00 203 351 419 499 499 Additional Paid-In Capital
13,331 16,673 17,142 15,447 9,507 9,775 10,885 5,214 3,265 3,659 2,735 -106 -964 -1,742 -1,293 -700 -700 Total Equity
0.43 0.47 0.44 0.44 0.34 0.38 0.43 0.37 0.26 0.31 0.26 -0.01 -0.11 -0.21 -0.14 -0.07 -0.07 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSI 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,532 4,578 3,661 -49.00 -4,240 -344 261 741 670 939 -696 643 562 -151 969 871 871 Net Income
1,532 4,578 3,661 -49.00 -4,240 -344 261 741 670 939 -696 643 562 -151 969 871 871 Net Income From Continuing
Operations
566 540 558 903 831 642 353 366 151 158 173 150 295 343 360 394 394 Depreciation, Depletion and
Amortization
-551 -1,303 -1,775 2,538 1,891 91.00 -83.00 -250 81.00 -36.00 -62.00 21.00 -6.00 -60.00 62.00 -79.00 -79.00 Change In Receivables
-399 -19.00 -718 556 -54.00 1,266 -111 -14.00 -2.00 -8.00 -5.00 16.00 6.00 -46.00 71.00 -74.00 -74.00 Change In Inventory
1,840 2,405 1,654 -2,303 -1,631 -2,412 333 -191 -106 -232 -72.00 26.00 241 160 271 198 198 Change In Payables And Accrued
Expense
5.00 -26.00 -1,442 256 -761 -553 -228 -582 -387 -277 -1,545 77.00 -61.00 -89.00 -370 89.00 89.00 Change In Working Capital
466 1,000 838 -747 1,698 50.00 384 63.00 114 -334 -557 160 213 1,100 9.00 -84.00 -84.00 Change In DeferredTax
-- -- -- -- 280 263 144 168 146 120 94.00 78.00 68.00 66.00 73.00 118 118 Stock Based Compensation
-234 -1,725 284 478 2,434 -153 -111 92.00 -20.00 -51.00 1,894 -87.00 88.00 77.00 34.00 435 435 Cash Flow from Others
4,265 4,308 3,499 785 242 629 1,972 874 1,070 944 -542 1,021 1,165 1,346 1,075 1,823 1,823 Cash Flow from Operations
-405 -548 -649 -527 -504 -204 -192 -186 -170 -169 -181 -175 -271 -227 -197 -248 -248 Purchase Of Property, Plant,
Equipment
138 103 85.00 166 133 23.00 27.00 6.00 40.00 66.00 33.00 3.00 73.00 -- -- 7.00 -- Sale Of Property, Plant, Equipment
-- -- -- -- -282 -38.00 -23.00 -32.00 -109 -57.00 -47.00 -586 -1,474 -404 -1,164 -709 -709 Purchase Of Business
-- -- -- -- 93.00 343 276 1,124 83.00 -- -- -- -- -- -- -- -- Sale Of Business
-1,535 -3,157 -1,417 -- -282 -721 -6.00 -- -58.00 -- -- -- -- -- -- -- -- Purchase Of Investment
682 8.00 -- 7,308 1,354 -- 717 2,638 1,075 2,194 3,403 230 670 183 95.00 16.00 16.00 Sale Of Investment
-2,937 -- -- -- -- -71.00 -343 -8.00 -173 -365 -93.00 -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-476 1,226 933 -4,568 282 -- -276 -1,124 109 -- -- -- -- -- -- -- 7.00 Cash From Other Investing Activities
-4,533 -2,368 -1,048 2,379 794 -668 180 2,418 797 1,669 3,115 -528 -1,002 -448 -1,266 -934 -934 Cash Flow from Investing
1,680 1,199 918 440 145 116 179 192 133 165 87.00 84.00 93.00 82.00 168 114 114 Issuance of Stock
-- -874 -3,826 -3,035 -138 -- -- -1,110 -2,438 -1,694 -2,546 -3,177 -842 -483 -132 -315 -315 Repurchase of Stock
-2,769 -1,121 48.00 -213 -268 -218 -1,016 -1,219 334 589 910 967 -13.00 -11.00 598 -561 -561 Net Issuance of Debt
-378 -394 -443 -468 -453 -114 -- -72.00 -270 -292 -318 -277 -280 -307 -337 -379 -379 Cash Flow for Dividends
2,728 283 142 -25.00 69.00 6.00 -- -3,383 -53.00 366 108 5.00 -- -3.00 -77.00 -3.00 -79.00 Other Financing
1,261 -907 -3,161 -3,301 -645 -210 -837 -5,592 -2,294 -866 -1,759 -2,398 -1,042 -722 220 -1,144 -1,144 Cash Flow from Financing
1,157 928 -562 -64.00 312 -195 1,339 -2,327 -413 1,757 729 -1,974 -950 238 -11.00 -256 -256 Net Change in Cash
-405 -548 -649 -527 -504 -204 -192 -186 -170 -169 -181 -175 -271 -227 -197 -248 -248 Capital Expenditure
3,860 3,760 2,850 258 -262 425 1,780 688 900 775 -723 846 894 1,119 878 1,575 1,575 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSI 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.61 7.30 8.24 -- -- -- 19.76 13.65 18.56 16.50 12.97 21.66 25.35 -- 20.51 32.62 35.03 PE Ratio(TTM)
18.84 6.10 9.26 -- -- -- 15.84 20.54 29.35 34.74 -- 14.28 16.40 13.95 24.21 25.38 27.28 Price to Owner Earnings
(TTM)
1.85 1.98 1.68 1.37 0.62 1.07 1.15 2.83 4.71 4.69 5.39 -- -- -- -- -- -- Price to Book
2.08 1.98 1.68 2.27 0.88 1.69 1.69 3.95 9.34 5.22 6.33 -- -- -- -- -- -- Price to Tangible Book
6.42 8.93 10.54 82.73 -- 25.30 7.03 23.03 17.85 22.74 -- 15.70 15.84 13.27 22.79 17.97 19.28 Price-to-Free-Cash-Flow
Ratio
5.81 7.79 8.58 27.47 24.55 16.93 6.35 18.07 15.10 18.78 -- 13.08 12.19 11.08 18.58 15.52 16.66 Price-to-Operating-Cash-
Flow Ratio
0.84 0.94 0.70 0.59 0.19 0.52 1.63 1.92 2.66 2.68 2.80 2.40 2.37 2.36 2.70 3.59 3.84 PS Ratio
401 0.33 0.24 -- -- -- -- -- -- -- -- -- -- -- -- -- -- PEG Ratio
0.65 0.63 0.41 0.60 0.11 0.33 0.85 1.37 2.18 2.42 2.42 2.44 2.82 2.80 3.12 4.10 4.35 EV-to-Revenue
5.44 4.37 3.73 30.13 -2.02 13.95 5.23 9.11 11.98 13.47 -16.93 11.07 12.49 10.91 13.44 19.82 20.99 EV-to-EBITDA
6.48 4.88 4.23 -131 -1.33 -37.82 7.29 12.94 13.81 15.47 -14.04 12.58 15.93 13.81 17.04 26.13 27.66 EV-to-EBIT
15.43 20.49 23.64 -0.76 -75.19 -2.64 13.72 7.73 7.24 6.46 -7.12 7.95 6.28 7.24 5.87 3.83 3.62 Return on Capital %
-0.02 25.10 28.22 7.15 28.79 12.62 5.81 2.08 2.62 3.27 -- -- -- -- -- -- -24.76 Forward Rate of Return
71.81 73.05 47.77 54.12 49.25 -- -- 28.82 18.92 21.99 21.96 37.05 85.49 99.67 37.96 44.71 48.01 Shiller PE Ratio
1.59 1.21 1.58 2.13 7.72 -- -- 0.95 1.72 1.69 1.94 2.09 2.05 2.14 1.85 1.46 1.36 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
24,632 33,057 28,753 21,160 5,900 10,497 12,494 14,757 15,373 17,179 14,744 11,931 13,652 14,563 18,809 27,609 29,514 Market Cap
19,222 22,526 17,510 22,119 3,193 6,543 6,532 11,261 13,658 16,445 14,221 13,872 17,047 17,844 22,889 32,373 34,278 Enterprise Value
70.44 92.52 84.20 65.69 18.14 31.78 37.15 46.29 55.68 67.50 67.08 68.45 82.89 90.34 115 161 173 Month End Stock Price
-19.68 -12.16 -17.01 -49.68 -35.00 -23.81 -17.33 -11.37 -21.05 -19.52 -16.99 -34.62 -51.09 -54.25 -57.77 -60.36 -60.36 Net Cash (per share)
10.08 24.89 27.89 8.87 -3.07 0.62 7.32 0.17 -7.29 -4.61 -3.68 -21.99 -36.18 -37.22 -39.33 -41.81 -41.81 Net Current Asset Value
(per share)
-6.34 3.10 4.11 -32.88 -22.86 -15.69 -8.02 -6.17 -15.01 -14.80 -11.40 -27.91 -43.84 -46.15 -50.75 -52.87 -52.87 Net-Net Working Capital (per
share)
37.35 63.08 104 118 92.29 76.10 66.52 40.41 30.25 37.32 36.18 36.95 37.26 44.83 37.92 53.92 53.92 Projected FCF (per share)
57.47 68.36 88.69 76.13 61.86 36.56 13.43 15.13 16.28 22.17 22.23 41.88 68.37 82.93 103 112 112 Median PS (per share)
-- 276 228 -1.38 -- -- -- -- -- -- -- -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
67.55 115 101 -- -- -- 18.86 24.09 17.37 31.69 -- -- -- -- -- -- -- Graham Number (per share)
18.74 60.53 99.04 111 91.63 61.77 52.48 45.94 167 146 128 155 133 35.22 27.73 33.08 33.08 Earnings Power Value
(EPV)
2.62 3.37 3.12 2.35 1.48 1.73 1.57 2.35 2.30 2.80 2.39 2.60 2.30 2.40 2.61 2.83 2.94 Altman Z-Score
8.00 6.00 5.00 3.00 4.00 5.00 7.00 8.00 7.00 5.00 4.00 5.00 6.00 5.00 6.00 5.00 5.00 Piotroski F-Score
-2.94 -2.58 -2.22 -2.40 -3.58 -2.79 -1.71 -2.63 -2.34 -2.70 -0.81 -2.73 -2.60 -3.32 -2.57 -2.57 -2.57 Beneish M-Score
0.25 0.20 0.17 0.43 0.20 0.21 0.19 0.07 0.11 0.23 0.19 0.18 0.29 0.18 0.34 0.43 0.39 Scaled Net Operating
Assets
5.82 7.37 3.14 -9.23 -18.95 -0.05 -5.94 -15.32 -7.78 -12.78 -12.22 1.40 4.69 -12.83 12.30 -0.20 -0.20 Sloan Ratio (%)
1.99 2.23 2.01 1.78 1.63 1.94 1.97 2.30 2.22 2.18 3.06 2.11 1.30 1.35 1.38 1.21 1.21 Current Ratio
1.75 2.03 1.80 1.55 1.38 1.81 1.81 2.16 2.07 2.07 2.90 1.97 1.20 1.24 1.26 1.08 1.08 Quick Ratio
76.15 101 107 84.24 65.81 38.13 37.23 47.87 55.68 67.50 67.87 72.45 84.00 94.53 134 181 187 Highest Stock Price
51.59 59.84 76.55 62.42 12.90 12.70 25.19 37.04 44.94 54.01 58.50 56.79 60.36 77.34 89.91 111 136 Lowest Stock Price
-4.66 -2.18 4.43 5.67 -0.97 -1.56 -1.82 5.20 13.39 7.82 13.63 20.70 5.51 2.13 -1.43 -4.79 -4.79 Shares Buyback Ratio (%)
21.85 16.29 22.71 -7.52 -15.96 -40.59 -59.29 7.19 -12.71 9.21 4.02 17.86 23.60 12.28 9.01 5.21 5.28 YoY Rev. per Sh. Growth
(%)
64.70 189 -19.34 -101 -9,250 98.93 1,436 82.35 -13.20 37.16 30.30 -42.91 7.28 -129 692 -11.92 -11.94 YoY EPS Growth (%)
56.55 42.57 -8.85 -82.86 -319 122 242 -0.30 5.33 12.84 -179 281 26.91 27.30 -1.36 -6.07 -5.98 YoY EBITDA Growth (%)
0.03 22.06 38.40 -3.94 -- -- -- -- -- -- -- -- -- -- -- -- -- EBITDA 5-Y Growth (%)
336 353 349 330 324 328 333 334 292 266 246 200 170 163 162 167 171 Shares Outstanding (Basic
Average)
350 357 341 322 325 330 336 319 276 255 220 174 165 161 164 171 171 Shares Outstanding (EOP)
1.22 1.10 1.63 1.54 1.80 1.85 1.77 1.32 1.04 0.58 0.45 0.27 0.40 0.36 0.83 0.61 0.63 Beta
03/04/05 03/02/06 02/28/07 02/28/08 02/26/09 02/16/10 02/18/11 02/15/12 02/12/13 02/13/14 02/13/15 02/23/16 02/21/17 02/16/18 02/15/19 02/14/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSI 6/7
03/02/06 02/28/07 02/28/08 02/26/09 02/16/10 02/18/11 02/12/13 02/13/14 02/13/15 02/23/16 02/21/17 02/16/18 02/15/19 02/14/20 02/14/20 02/14/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MSI 7/7
SunTrust Banks Inc (NYSE:STI) 03/03/2020 3:15AM EST GuruFocus
Price: $ 70.13 (0.00%) Market Cap: $ 31.14 B Enterprise Value: $19.91 B Stock PDF
Financial Strength : 2/10 Profitability & Growth : 4/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 12.84
Cash to Debt 0.30 Net-margin (%) 26.54
Forward P/E N/A
Equity to Asset 0.12 ROE (%) 9.74
F-Score: PE(NRI) 12.84
ROA (%) 1.16
9999 P/B 1.27
M-Score: Revenue Growth (3Y)(%) 8.70
-2.18 P/S 3.27
EPS Growth (3Y)(%) 17.00
PFCF 25.72
POCF 18.88
Shiller P/E 21.45
Warning Signs Quarterly Revenues Company Description
Price: Close to 10-year high Mar Jun Sep Dec Full Year SunTrust Banks Inc headquartered in Atlanta, comprises commercial, corporate, and retail banking operations.
SunTrust's corporate and investment banking arm is under the SunTrust Robinson Humphrey brand. The majority of
2016 2,063 2,116 2,197 2,158 8,534 SunTrust's deposits are in seven Southeastern U.S. states and the District of Columbia.... (Read More)
2017 2,213 2,230 2,276 2,161 8,880 Competitors: XBRU:KBC, SGX:U11 , BSP:BBAS3 , MIL:UCG, OSL:DNB, BOM:532215 , TSE:7182 , XPAR:GLE,
DCF 2018 2,237 2,317 2,294 2,365 9,213 BSP:SANB3, SGX:O39, SHSE:601818, SHSE:601998, SHSE:600016, ISX:BMRI, OSTO:NDA SE, TSE:8411,
TSE:6178, HKSE:02388, SAU:1180, BSP:ITSA3
GuruFocus does not 2019 2,328 2,560 2,353
calculate intrinsic value: DCF 2020 Insider Trades
(Earnings Based) for
Quarterly Earnings per Share
companies with one star
predictability or not rated. But Mar Jun Sep Dec Full Year
you can go to each stock's 2016 0.84 0.94 0.91 0.90 3.59
DCF page to calculate 2017 0.91 1.03 1.06 1.48 4.48
yourself. 2018 1.29 1.49 1.56 1.40 5.74
2019 1.24 1.48 1.34
2020
Reverse DCF
Quarterly Dividends Per Share
GuruFocus does not
calculate reverse DCF growth Mar Jun Sep Dec Full Year
rate for companies with one 2016 0.24 0.24 0.26 0.26 1.00
star predictability or not rated. 2017 0.26 0.26 0.40 0.40 1.32
But you can go to each 2018 0.40 0.40 0.50 0.50 1.80
stock's DCF page to calculate 2019 0.50 0.50 0.56
yourself. 2020
Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) -1.40 6.70 8.70
EBITDA Growth (%) 0.00 0.00 0.00
Free Cash Flow Growth (%) 0.00 0.00 -56.80
Book Value Growth (%) 2.30 5.20 3.40
EPS Growth (%) 0.00 16.40 28.40
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STI 1/7
Per Share Data
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
19.98 20.74 21.28 22.41 23.10 25.40 18.71 16.65 15.56 19.02 14.47 14.94 15.43 17.09 18.24 19.82 21.43 Revenue per Share
4.73 5.19 5.47 5.82 4.55 2.12 -3.98 -0.18 0.94 3.59 2.41 3.23 3.58 3.60 4.47 5.74 5.46 Earnings per Share (diluted)
4.73 5.19 5.47 5.82 4.55 2.12 -3.98 -0.18 0.94 3.59 2.41 3.23 3.58 3.60 4.47 5.74 5.46 eps without NRI
6.47 4.36 6.15 5.93 4.52 -32.46 1.52 3.65 5.32 4.89 6.25 -2.44 7.06 -1.48 10.55 5.28 3.00 Owner Earnings per Share (TTM)
14.13 3.10 -13.54 9.80 10.03 9.69 6.48 7.95 8.36 3.36 7.44 -2.69 6.24 -1.93 10.69 4.62 2.73 Free Cashflow per Share
1.80 2.00 2.20 2.44 2.92 2.85 0.22 0.04 0.12 0.20 0.35 0.70 0.92 1.00 1.32 1.80 2.06 Dividends per Share
34.52 44.31 46.65 48.78 50.38 48.44 35.29 36.34 36.86 37.59 38.61 41.52 43.66 45.59 48.16 49.80 55.10 Book Value per Share
28.43 22.50 24.67 26.04 26.60 25.79 19.20 20.57 23.15 24.00 24.24 27.12 28.60 29.32 30.91 31.02 37.13 Tangible Book per Share
69.13 67.04 62.76 59.33 74.56 89.66 39.17 32.65 37.19 23.81 31.09 36.10 19.23 26.51 22.91 45.46 58.48 Total Debt per Share
71.50 73.88 72.76 84.45 62.49 29.54 20.29 29.51 17.70 28.35 36.81 41.90 42.84 54.85 64.59 50.44 70.13 Month End Stock Price
Ratios
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
14.40 12.23 12.09 12.16 8.94 3.65 -7.70 -0.38 2.29 9.41 6.12 7.75 8.02 7.70 8.94 10.79 9.74 Return on Equity %
1.10 1.11 1.17 1.17 0.90 0.43 -0.86 0.11 0.37 1.12 0.77 0.97 1.01 0.95 1.11 1.32 1.16 Return on Assets %
6.86 6.68 9.16 10.79 10.96 8.66 21.51 7.90 9.07 7.90 8.35 6.90 6.15 8.02 9.41 10.48 -- Weighted Average Cost Of Capital (WACC) %
8.85 7.02 13.44 23.45 22.61 12.79 34.75 8.30 6.15 4.66 3.63 3.06 3.49 4.89 6.33 7.83 7.78 Effective Interest Rate on Debt %
23.69 25.01 25.69 26.05 20.05 8.95 -19.13 2.28 7.88 19.13 17.22 22.27 24.07 21.83 25.60 30.12 26.54 Net Margin %
70.70 14.97 -63.62 43.72 43.40 38.16 34.61 47.76 53.68 17.65 51.39 -18.04 40.45 -11.30 58.61 23.29 12.90 FCF Margin %
2.00 1.51 1.35 1.18 1.44 1.42 0.87 0.71 1.00 0.61 0.78 0.82 0.42 0.55 0.43 0.84 0.98 Debt to Equity
0.08 0.10 0.09 0.10 0.10 0.12 0.13 0.13 0.11 0.12 0.12 0.12 0.12 0.12 0.12 0.11 0.12 Total Equity to Total Asset
0.16 0.15 0.13 0.12 0.15 0.17 0.11 0.10 0.11 0.07 0.10 0.10 0.05 0.06 0.05 0.09 0.11 Total Debt to Total Asset
4.63 4.43 4.57 4.49 4.51 4.82 4.50 4.79 4.70 5.84 4.47 4.36 4.21 4.35 4.32 4.37 4.38 Gross Profit to Total Asset %
0.05 0.04 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.06 0.05 0.04 0.04 0.04 0.04 0.04 0.04 Asset Turnover
0.38 0.39 0.40 0.42 0.64 1.34 -- -- 0.13 0.06 0.15 0.22 0.26 0.28 0.30 0.31 0.38 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STI 2/7
Income Statement
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
5,623 6,290 7,734 8,129 8,148 8,895 8,176 8,304 8,211 10,236 7,803 7,967 8,032 8,604 8,880 9,213 9,606 Revenue
5,623 6,290 7,734 8,129 8,148 8,895 8,176 8,304 8,211 10,236 7,803 7,967 8,032 8,604 8,880 9,213 9,606 Gross Profit
2,045 2,297 2,691 2,899 2,965 4,341 4,054 3,901 4,013 4,204 3,963 3,979 4,112 4,317 4,623 4,570 4,604 Selling, General, & Admin. Expense
3,578 3,993 5,043 5,230 5,183 4,554 4,122 4,403 4,198 6,032 3,840 3,988 3,920 4,287 4,257 4,643 5,002 Other Operating Expense
4,769 5,218 7,731 9,792 10,036 8,224 13,347 6,343 6,181 5,867 5,388 5,384 5,265 5,778 6,387 7,205 7,957 Interest Income
-1,449 -1,533 -3,152 -5,132 -5,316 -3,708 -8,954 -1,489 -1,116 -765 -535 -544 -501 -557 -754 -1,218 -1,821 Interest Expense
3,320 3,685 4,579 4,660 4,720 4,517 4,393 4,854 5,065 5,102 4,853 4,840 4,764 5,221 5,633 5,987 6,136 Net Interest Income
1,909 2,257 2,866 2,986 2,250 740 -2,450 21.00 739 2,796 1,683 2,278 2,707 2,692 2,814 3,332 3,024 Other Income (Expense)
-- -- -- -- -- -11.38 -12.00 -17.00 -13.00 -26.00 -17.00 -11.00 -10.00 -9.00 -9.00 -9.00 -8.00 Other Income (Minority Interest)
1,909 2,257 2,866 2,986 2,250 740 -2,450 21.00 739 2,796 1,683 2,278 2,707 2,692 2,814 3,332 3,024 Pre-Tax Income
-577 -684 -879 -869 -616 67.27 898 185 -79.00 -812 -322 -493 -764 -805 -532 -548 -467 Tax Provision
30.21 30.31 30.67 29.10 27.36 -9.09 36.65 -881 10.69 29.04 19.13 21.64 28.22 29.90 18.91 16.45 15.44 Tax Rate %
1,332 1,573 1,987 2,117 1,634 807 -1,552 206 660 1,984 1,361 1,785 1,943 1,887 2,282 2,784 2,557 Net Income (Continuing Operations)
1,332 1,573 1,987 2,117 1,634 796 -1,564 189 647 1,958 1,344 1,774 1,933 1,878 2,273 2,775 2,549 Net Income
23.69 25.01 25.69 26.05 20.05 8.95 -19.13 2.28 7.88 19.13 17.22 22.27 24.07 21.83 25.60 30.12 26.54 Net Margin %
-- -- -- 7.73 30.28 48.83 -- 7.00 7.00 12.00 37.00 42.00 64.00 67.00 94.00 107 103 Preferred dividends
4.79 5.25 5.53 5.87 4.59 2.12 -3.98 -0.18 0.94 3.62 2.43 3.26 3.62 3.63 4.53 5.79 5.50 EPS (Basic)
4.73 5.19 5.47 5.82 4.55 2.12 -3.98 -0.18 0.94 3.59 2.41 3.23 3.58 3.60 4.47 5.74 5.46 EPS (Diluted)
281 303 363 363 353 350 437 499 528 538 539 533 521 503 487 465 447 Shares Outstanding (Diluted
Average)
887 676 792 829 837 824 966 803 760 757 708 693 786 725 727 716 699 Depreciation, Depletion and
Amortization
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STI 3/7
Balance Sheet
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
3,948 3,893 4,992 4,258 4,295 5,647 6,480 4,320 3,717 7,156 4,280 7,069 4,322 5,116 5,374 5,816 7,870 Cash And Cash Equivalents
-- -- -- -- -- -- -- -- 28,117 21,953 22,542 26,770 27,825 30,672 30,947 31,442 31,358 Marketable Securities
3,948 3,893 4,992 4,258 4,295 5,647 6,480 4,320 31,834 29,109 26,822 33,839 32,147 35,788 36,321 37,258 39,228 Cash, Cash Equivalents,
Marketable Securities
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 2,201 602 825 Accounts Receivable
3,948 3,893 4,992 4,258 4,295 5,647 6,480 4,320 31,834 29,109 26,822 33,839 32,147 35,788 39,402 38,966 41,159 Total Current Assets
27,460 31,125 29,337 27,879 26,782 36,480 33,457 33,070 29,503 23,310 23,981 28,510 29,584 32,671 34,146 35,197 35,329 Investments And Advances
-- -- -- -- 382 -- 341 353 358 349 345 334 330 320 321 310 -- Land And Improvements
-- -- -- -- 1,002 -- 974 1,008 1,033 1,041 1,045 1,051 1,073 1,028 1,047 1,059 -- Buildings And Improvements
-- -- -- -- 1,381 -- 1,312 1,385 1,322 1,357 1,399 1,426 1,463 1,492 3,101 3,319 -- Machinery, Furniture,
Equipment
-- -- -- -- 163 -- 170 168 105 111 206 201 249 357 488 351 -- Construction In Progress
1,595 1,860 1,855 1,977 3,410 3,345 3,332 3,491 3,398 3,480 3,604 3,640 3,751 3,842 5,648 5,797 5,178 Gross Property, Plant and
Equipment
-- -- -- -- -1,815 -1,797 -1,780 -1,871 -1,834 -1,916 -2,039 -2,132 -2,249 -2,286 -3,595 -3,773 -- Accumulated Depreciation
1,595 1,860 1,855 1,977 1,596 1,548 1,552 1,620 1,564 1,564 1,565 1,508 1,502 1,556 2,053 2,024 5,178 Property, Plant and Equipment
1,717 7,867 7,958 8,072 8,284 8,079 8,030 7,894 7,361 7,325 7,703 7,556 7,662 7,994 8,122 8,393 7,979 Intangible Assets
-- -- -- -- 6,921 7,044 6,319 6,323 6,344 6,369 6,369 6,337 6,337 6,337 6,331 Goodwill
6,331
6,331
90,673 114,125 135,571 139,975 138,616 137,385 124,646 125,970 106,597 112,134 115,264 118,915 119,922 126,866 122,239 130,963 137,723 Other Long Term Assets
125,393 158,870 179,713 182,162 179,574 189,138 174,165 172,874 176,859 173,442 175,335 190,328 190,817 204,875 205,962 215,543 227,368 Total Assets
4,175 2,063 1,938 2,063 3,021 5,166 2,062 2,690 8,983 3,303 5,788 5,634 1,024 1,015 717 4,857 5,061 Current Portion of Long-Term
Debt
4,175 2,063 1,938 2,063 3,021 5,166 2,062 2,690 8,983 3,303 5,788 5,634 1,024 1,015 717 4,857 5,061 Total Current Liabilities
15,314 22,127 20,779 18,993 22,957 26,812 17,490 13,648 10,985 9,530 10,879 13,302 8,758 12,004 10,074 15,460 20,908 Long-Term Debt
15,314 22,127 20,779 18,993 22,957 26,812 17,490 13,648 10,985 9,530 10,879 13,302 8,758 12,004 10,074 15,460 20,908 Long-Term Debt & Capital
Lease Obligation
2.00 1.51 1.35 1.18 1.44 1.42 0.87 0.71 1.00 0.61 0.78 0.82 0.42 0.55 0.43 0.84 0.98 Debt to Equity
96,173 118,693 140,109 143,292 135,544 134,658 132,082 133,406 136,825 139,624 137,246 148,387 157,598 168,238 170,017 170,946 174,910 Other Long-Term Liabilities
115,662 142,883 162,825 164,348 161,521 166,637 151,634 149,744 156,793 152,457 153,913 167,323 167,380 181,257 180,808 191,263 200,879 Total Liabilities
294 371 371 371 371 373 515 515 550 550 550 550 550 550 550 553 553 Common Stock
-- -- -- 500 500 5,222 4,917 4,942 275 725 725 1,225 1,225 1,225 2,475 2,025 2,025 Preferred Stock
7,149 8,119 9,311 10,541 10,647 10,389 8,563 8,542 8,978 10,817 11,936 13,295 14,686 16,000 17,540 19,522 20,664 Retained Earnings
1,664 1,277 938 926 1,607 981 1,070 1,616 1,749 309 -289 -122 -460 -821 -820 -1,420 -149 Accumulated other
comprehensive income (loss)
1,288 6,749 6,762 6,627 6,707 6,905 8,521 8,403 9,306 9,174 9,115 9,089 9,094 9,010 9,000 9,022 8,989 Additional Paid-In Capital
-665 -529 -494 -1,151 -1,779 -1,368 -1,055 -888 -792 -590 -615 -1,032 -1,658 -2,346 -3,591 -5,422 -5,593 Treasury Stock
9,731 15,987 16,887 17,814 18,053 22,501 22,531 23,130 20,066 20,985 21,422 23,005 23,437 23,618 25,154 24,280 26,489 Total Equity
0.08 0.10 0.09 0.10 0.10 0.12 0.13 0.13 0.11 0.12 0.12 0.12 0.12 0.12 0.12 0.11 0.12 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STI 4/7
Cashflow Statement
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
1,332 1,573 1,987 2,117 1,634 807 -1,552 206 660 1,984 1,361 1,785 1,943 1,887 2,282 2,784 2,558 Net Income
1,332 1,573 1,987 2,117 1,634 807 -1,552 206 660 1,984 1,361 1,785 1,943 1,887 2,282 2,784 2,558 Net Income From Continuing
Operations
887 676 792 829 837 824 966 803 760 757 708 693 786 725 727 716 699 Depreciation, Depletion and
Amortization
-256 -525 -404 -678 -737 -2,879 1,532 1,034 1,648 118 1,499 -3,557 1,119 -3,072 2,370 -752 -1,542 Change In Working Capital
180 145 178 108 -148 -221 -894 -171 83.00 194 495 99.00 21.00 111 344 -87.00 -- Change In DeferredTax
-- -- -- -- 24.28 20.19 11.00 66.00 44.00 62.00 53.00 67.00 89.00 126 160 140 134 Stock Based Compensation
1,990 -689 -7,272 1,511 2,112 4,650 2,427 2,280 1,344 -1,109 94.00 -247 -406 -295 -261 -232 -166 Cash Flow from Others
4,133 1,180 -4,719 3,888 3,722 3,616 3,042 4,218 4,539 2,013 4,210 -1,160 3,552 -518 5,622 2,569 1,683 Cash Flow from Operations
-158 -238 -202 -334 -186 -222 -212 -252 -131 -206 -200 -277 -303 -454 -417 -423 -444 Purchase Of Property, Plant,
Equipment
-- -- -- -- 764 289 -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -26.76 -25.00 -10.00 -24.00 -12.00 -3.00 -11.00 -30.00 -188 -- -- -- Purchase Of Business
-- -- -- -- -- 388 112 -- -- -- -- 193 -- -- 261 -- -- Sale Of Business
-19,934 -12,264 -7,222 -6,932 -30,357 -11,858 -33,879 -20,920 -18,872 -5,814 -9,215 -11,039 -9,882 -8,610 -8,299 -6,389 -6,679 Purchase Of Investment
18,475 13,959 9,151 8,860 33,409 14,724 25,723 23,293 18,355 11,671 7,593 7,236 8,388 5,305 7,040 5,786 7,905 Sale Of Investment
-- -- -- -- 270 -- -- 23.00 -- -- -- -130 -117 -171 -8.00 Net Intangibles Purchase And Sale
-7.00 -78.00
-5,122 -10,423 -13,684 -6,999 -1,366 -4,778 9,365 -2,853 -9,570 -899 -7,118 -5,245 -3,372 -7,189 -1,576 -9,047 -11,481 Cash From Other Investing Activities
-6,739 -8,967 -11,957 -5,405 2,535 -1,484 1,084 -719 -10,242 4,740 -8,943 -9,273 -5,316 -11,307 -2,998 -10,151 -10,707 Cash Flow from Investing
-- -- -- -- -- -- 1,830 -- 1,017 -- -- -- -- -- -- -- -- Issuance of Stock
-101 82.39 -60.70 -889 -853 -- -- -- -- -- -150 -458 -679 -806 -1,314 -1,910 -1,500 Repurchase of Stock
-- -- -- 492 -- 4,850 -228 -- -4,747 438 -- 496 -- -- 1,239 -450 -- Net Issuance of Preferred Stock
1,900 2,085 -352 -209 1,964 3,810 -9,459 -4,746 -2,822 -1,772 1,409 2,521 -4,333 3,474 -1,718 5,670 6,171 Net Issuance of Debt
-505 -603 -795 -887 -1,057 -1,041 -329 -259 -131 -119 -225 -409 -539 -564 -723 -936 -1,019 Cash Flow for Dividends
1,075 6,391 18,700 2,012 -5,976 -8,756 4,420 -113 11,517 -1,552 705 11,249 4,685 10,545 381 5,791 6,451 Other Financing
2,369 7,955 17,492 520 -5,922 -1,137 -3,766 -5,118 4,834 -3,005 1,739 13,399 -866 12,649 -2,135 8,165 10,603 Cash Flow from Financing
-237 168 817 -998 335 995 360 -1,619 -869 3,748 -2,994 2,966 -2,630 824 489 583 1,579 Net Change in Cash
-158 -238 -202 -334 -186 -222 -212 -252 -131 -206 -200 -277 -303 -454 -417 -423 -444 Capital Expenditure
3,976 942 -4,920 3,554 3,536 3,395 2,830 3,966 4,408 1,807 4,010 -1,437 3,249 -972 5,205 2,146 1,239 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STI 5/7
Valuation Ratios
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
15.12 14.29 13.30 14.51 13.79 13.93 -- -- 19.03 7.90 15.27 12.97 11.97 15.28 14.42 8.79 12.84 PE Ratio(TTM)
11.05 16.94 11.83 14.23 13.84 -- 13.33 8.08 3.33 5.80 5.89 -- 6.07 -- 6.12 9.56 23.37 Price to Owner Earnings
(TTM)
2.07 1.67 1.56 1.73 1.24 0.61 0.57 0.81 0.48 0.75 0.95 1.01 0.98 1.20 1.34 1.01 1.27 Price to Book
2.52 3.28 2.95 3.24 2.35 1.15 1.06 1.43 0.76 1.18 1.52 1.55 1.50 1.87 2.09 1.63 1.89 Price to Tangible Book
5.08 16.47 -- 7.92 6.02 2.86 6.18 3.71 2.09 8.45 4.95 -- 6.82 -- 6.04 10.74 25.72 Price-to-Free-Cash-Flow
Ratio
4.88 14.03 -- 7.85 5.90 2.86 5.37 3.49 2.03 7.59 4.71 -- 6.24 -- 5.59 8.99 18.88 Price-to-Operating-Cash-
Flow Ratio
3.58 3.56 3.42 3.77 2.72 1.16 1.05 1.77 1.14 1.49 2.54 2.81 2.77 3.23 3.54 2.54 3.27 PS Ratio
1.77 1.54 2.01 2.62 5.26 -- -- -- -- -- -- -- 0.56 1.18 2.31 -- -- PEG Ratio
6.35 7.47 5.70 5.82 5.42 4.73 3.44 3.82 -0.25 -0.03 1.32 1.04 0.08 0.63 0.83 0.83 2.07 EV-to-Revenue
12.77 16.04 12.04 12.39 14.24 26.91 -18.95 38.55 17.31 6.05 13.66 11.71 8.07 10.48 10.74 -- -- EV-to-EBITDA
12.37 11.90 5.18 7.21 7.88 14.54 13.08 23.57 37.19 15.67 13.03 -- 30.38 17.67 12.49 -- -- Forward Rate of Return
18.27 17.20 15.62 16.71 11.74 5.76 4.72 7.76 5.21 8.80 12.61 16.11 18.45 26.99 32.27 21.25 21.45 Shiller PE Ratio
2.52 2.71 3.02 2.89 4.67 9.65 1.08 0.14 0.68 0.71 0.95 1.67 2.15 1.82 2.04 3.57 3.02 Dividend Yield %
Valuation and Quality
Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 TTM Fiscal Period
20,157 26,659 26,338 29,972 21,772 10,536 10,128 14,768 9,504 15,279 19,734 21,978 21,793 26,942 30,417 22,541 31,141 Market Cap
35,699 46,956 44,063 47,269 43,955 42,090 28,117 31,728 -2,087 -272 10,304 8,300 653 5,398 7,362 7,625 19,907 Enterprise Value
71.50 73.88 72.76 84.45 62.49 29.54 20.29 29.51 17.70 28.35 36.81 41.90 42.84 54.85 64.59 50.44 70.13 Month End Stock Price
-396 -385 -436 -451 -451 -451 -291 -291 -233 -229 -237 -254 -266 -296 -307 -345 -364 Net Cash (per share)
-396 -385 -436 -452 -453 -466 -301 -300 -233 -230 -238 -257 -268 -299 -309 -348 -367 Net-Net Working Capital (per
share)
48.02 61.94 26.10 43.89 68.02 101 67.48 78.35 96.08 90.73 92.74 81.70 85.81 73.34 81.09 88.06 84.13 Projected FCF (per share)
70.36 69.32 72.64 78.05 80.59 85.38 34.24 24.01 19.70 29.06 22.87 27.61 40.66 46.13 52.69 64.88 -- Median PS (per share)
40.30 47.93 36.16 32.18 -- -- -- -- -- -- -- -- 75.90 46.63 27.94 -- -- Peter Lynch Fair Value (per
share)
55.00 51.26 55.10 58.39 52.19 35.08 -- -- 22.13 44.03 36.25 44.39 48.00 48.73 55.76 63.29 67.53 Graham Number (per share)
-57.32 -57.42 -50.07 -47.87 -63.10 -76.32 -26.60 -24.82 20.03 27.70 15.71 24.43 38.99 41.08 47.23 30.88 22.61 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-2.72 -2.31 -2.05 -2.45 -2.64 -2.82 -2.60 -2.48 -2.72 -2.12 -2.89 -2.41 -2.36 -2.44 -2.45 -3.37 -2.18 Beneish M-Score
0.22 0.29 0.22 0.19 0.22 0.27 0.19 0.20 0.21 0.15 0.20 0.20 0.15 0.17 0.15 0.19 0.20 Scaled Net Operating
Assets
3.14 5.89 10.38 2.00 -2.57 -0.71 -3.27 -1.91 3.59 -2.76 3.47 6.41 1.94 6.69 -0.17 4.81 5.09 Sloan Ratio (%)
71.55 76.41 75.73 85.45 90.61 68.85 29.92 31.85 32.59 30.31 36.81 42.69 45.35 56.39 66.03 74.71 71.76 Highest Stock Price
51.56 61.80 65.80 70.08 61.09 22.45 6.70 20.29 15.80 17.70 27.12 34.73 36.71 31.36 52.30 46.90 46.05 Lowest Stock Price
0.21 -27.99 -0.32 1.96 1.83 -2.37 -39.94 -0.26 -7.30 -0.37 0.53 2.16 3.02 3.44 4.12 5.11 3.18 Shares Buyback Ratio (%)
3.68 3.78 2.61 5.30 3.11 9.95 -26.35 -11.01 -6.53 22.25 -23.92 3.20 3.29 10.77 6.71 8.66 12.21 YoY Rev. per Sh. Growth
(%)
1.50 9.73 5.39 6.40 -21.82 -53.41 -288 95.48 622 282 -32.87 34.02 10.84 0.56 24.17 28.41 -6.19 YoY EPS Growth (%)
8.52 9.27 6.61 5.53 2.62 -7.45 -- -- -- -- -- -- 21.20 12.99 6.25 -- -- EBITDA 5-Y Growth (%)
278 299 359 359 349 349 435 495 524 534 534 528 515 499 481 461 444 Shares Outstanding (Basic
Average)
282 361 362 355 348 357 499 500 537 539 536 525 509 491 471 447 354 Shares Outstanding (EOP)
0.37 0.48 0.70 0.34 0.56 0.78 1.31 1.46 1.79 1.60 1.57 1.25 1.09 1.30 1.50 1.66 -- Beta
02/27/04 03/01/05 02/28/06 03/01/07 02/20/08 03/02/09 02/23/10 02/25/11 02/24/12 02/27/13 02/24/14 02/24/15 02/23/16 02/24/17 02/23/18 02/22/19 Filing Date
02/27/04 02/28/06 03/01/07 03/01/07 03/02/09 02/23/10 02/25/11 02/27/13 02/24/14 02/24/15 02/23/16 02/24/17 02/23/18 02/22/19 02/22/19 02/22/19 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STI 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/STI 7/7
Alexandria Real Estate Equities Inc (NYSE:ARE) 03/03/2020 2:00PM EST GuruFocus
Price: $ 157.87 +2.29(+1.47%) Market Cap: $ 19.37 B Enterprise Value: $27.71 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 51.10
Cash to Debt 0.03 Operating margin (%) 28.24
Forward P/E N/A
Equity to Asset 0.48 Net-margin (%) 23.72
PE(NRI) 51.10
Interest Coverage 2.49 ROE (%) 4.47
F-Score:
P/B 2.16
ROA (%) 2.23
3 P/S 11.59
Z-Score: ROC (Joel Greenblatt) (%) 159.87
1.55 PFCF 25.96
Revenue Growth (3Y)(%) 4.00
M-Score: POCF 25.96
-2.45 EBITDA Growth (3Y)(%) 27.00
EV-to-EBIT 47.98
WACC vs 3.82%
ROIC 2.86% PEG 3.87
WACC
ROIC Shiller P/E 95.35
Current Ratio 0.43
Quick Ratio 0.43
Days Sales Outstanding 2.55
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Alexandria Real Estate Equities Inc is a real estate investment trust primarily engaged in the acquisition, development,
Dividend Payout Ratio: Too and leasing of urban offices on science and technology campuses throughout the United States. The company
high 2016 211 216 225 269 922 redevelops offices, warehouses, and shell space for its tenants in areas close to high concentrations of specialized
2017 271 273 285 299 1,128 research institutions and businesses. The majority of Alexandria's real estate portfolio is split between the Greater
ROIC vs. WACC: Return on Boston and San Francisco areas. The company derives nearly all of its income in the form of revenue from its tenant
2018 320 325 342 340 1,327 companies. Alexandria's largest customers in terms of revenue are public biotechnology, multinational pharmaceutical,
invested capital is less than
2019 359 374 390 408 1,531 life science product, and academic and medical research entities.... (Read More)
weighted average cost of Competitors: NYSE:BXP, XPAR:GFC, NYSE:DLR, NYSE:VNO, TSE:8951 , TSE:8952 , NYSE:LPT, NYSE:KRC,
2020
capital. ASX:MGR, NYSE:DEI, NYSE:SLG, XMAD:COL, LSE:DLN, NYSE:CUZ, TSE:8954, NYSE:HPP, SGX:C61U,
Quarterly Earnings per Share NYSE:JBGS, TSX:AP.UN, NYSE:HIW
Insider Sell: Insider Selling
Mar Jun Sep Dec Full Year Insider Trades
2016 -0.05 -1.72 0.07 -0.30 -2.00
Good Signs 2017 0.29 0.35 0.55 0.38 1.57
PB Ratio: Close to 1-year low 2018 1.32 0.51 1.99 -0.30 3.52
2019 1.11 0.68 -0.44 1.74 3.09
2020
DCF
Quarterly Dividends Per Share
GuruFocus does not
calculate intrinsic value: DCF Mar Jun Sep Dec Full Year
(Earnings Based) for 2016 0.80 0.80 0.80 0.83 3.23
companies with one star 2017 0.83 0.86 0.86 0.90 3.45
predictability or not rated. But 2018 0.90 0.93 0.93 0.97 3.73
you can go to each stock's 2019 0.97 1.00 1.00 1.03 4.00
DCF page to calculate 2020
yourself. Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Reverse DCF
Revenue Growth (%) 4.00 5.40 5.90
GuruFocus does not
EBITDA Growth (%) 0.00 13.00 -0.70
calculate reverse DCF growth
rate for companies with one Free Cash Flow Growth (%) 0.00 4.90 10.10
star predictability or not rated. Book Value Growth (%) 4.30 8.80 10.70
But you can go to each EPS Growth (%) 0.00 0.00 -11.40
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ARE 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
7.33 8.87 9.14 10.36 11.57 10.39 9.46 9.02 8.99 9.13 10.12 11.46 12.11 12.25 12.85 13.61 13.62 Revenue per Share
-- -- -- -- -- -- 6.39 5.60 5.71 5.83 5.75 7.18 4.87 8.03 10.05 9.97 9.96 EBITDA per Share
-- -- -- -- -- -- 3.88 3.04 2.67 3.05 2.60 3.52 0.75 3.51 5.42 5.13 5.12 EBIT per Share
2.33 2.22 2.25 2.63 2.86 2.72 2.19 1.73 1.09 1.60 1.01 1.63 -1.99 1.58 3.52 3.12 3.09 Earnings per Share (diluted)
2.12 2.07 1.96 2.27 2.27 2.57 1.93 1.42 0.95 1.59 0.99 1.63 -1.99 1.58 3.52 3.12 3.09 eps without NRI
-4.54 -4.07 -7.97 -9.97 -9.32 -7.56 -6.89 -6.24 -3.77 -4.06 -6.25 -7.52 1.42 -4.26 -- -- -19.28 Owner Earnings per Share (TTM)
-18.76 -14.72 -33.36 -27.85 -9.27 -6.09 -10.13 -8.26 4.92 4.60 4.70 4.79 5.17 4.90 5.52 6.08 6.08 Free Cashflow per Share
2.52 2.72 2.86 3.04 3.18 1.85 1.50 1.86 2.09 2.61 2.88 3.05 3.23 3.45 3.73 4.00 4.00 Dividends per Share
22.12 28.64 40.14 43.48 40.79 44.33 46.38 48.65 48.41 49.69 48.43 49.73 53.37 58.88 65.56 72.58 72.58 Book Value per Share
22.12 28.64 40.14 43.48 40.79 44.33 46.38 48.65 48.41 49.69 48.43 49.73 53.37 58.88 65.56 72.58 72.58 Tangible Book per Share
60.58 62.68 69.79 88.22 90.77 62.65 47.01 45.44 50.55 43.17 51.60 54.61 48.18 48.64 50.56 59.30 59.30 Total Debt per Share
74.42 80.50 100 102 60.34 64.29 73.26 68.97 69.32 63.62 88.74 90.36 111 131 115 162 158 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
8.44 6.53 5.26 5.53 5.66 5.22 4.03 3.24 1.98 2.96 1.86 3.00 -3.41 2.68 5.48 4.33 4.47 Return on Equity %
3.83 3.00 2.46 2.27 2.38 2.54 2.38 2.11 1.49 1.86 1.30 1.69 -0.69 1.51 2.86 2.21 2.23 Return on Assets %
-- -- -- -- -- -- 3.59 6.60 -- -- 3,868 2,169 246 851 806 207 160 Return on Capital %
-- -- -- -- -- -- 3.39 3.16 2.41 2.87 3.09 3.04 3.03 3.03 3.11 2.84 2.86 Return on Invested Capital %
5.14 6.88 9.29 9.57 7.58 7.96 7.85 6.18 6.09 6.97 5.43 4.30 6.31 7.32 7.10 4.46 3.82 Weighted Average Cost Of Capital (WACC) %
3.02 3.79 4.03 3.58 2.94 2.89 2.31 2.36 2.31 2.17 2.35 2.77 2.61 2.83 3.01 2.70 2.63 Effective Interest Rate on Debt %
-- -- -- -- -- -- 73.07 70.42 69.08 69.56 69.58 68.13 69.79 71.14 71.29 70.91 70.91 Gross Margin %
-- -- -- -- -- -- 39.09 34.38 27.30 31.29 31.04 28.97 28.86 27.54 28.50 28.24 28.24 Operating Margin %
40.23 33.56 31.51 30.14 31.64 33.57 29.55 24.66 18.28 21.94 14.10 17.60 -7.15 14.99 28.57 23.72 23.72 Net Margin %
-256 -166 -365 -269 -80.14 -58.64 -107 -91.60 54.68 50.36 46.41 41.80 42.69 39.97 42.96 44.66 44.66 FCF Margin %
1.91 1.70 1.50 1.85 1.73 1.18 0.88 0.83 0.93 0.78 0.96 1.00 0.86 0.82 0.77 0.82 0.82 Debt to Equity
0.33 0.35 0.37 0.32 0.33 0.43 0.50 0.51 0.48 0.52 0.47 0.45 0.47 0.49 0.51 0.48 0.48 Total Equity to Total Asset
0.63 0.60 0.56 0.60 0.57 0.50 0.44 0.43 0.45 0.41 0.45 0.45 0.41 0.40 0.39 0.39 0.39 Total Debt to Total Asset
9.52 8.93 7.79 7.53 7.52 7.57 5.89 6.01 5.63 5.88 6.40 6.56 6.69 7.15 7.12 6.61 6.67 Gross Profit to Total Asset %
0.10 0.09 0.08 0.08 0.08 0.08 0.08 0.09 0.08 0.09 0.09 0.10 0.10 0.10 0.10 0.09 0.09 Asset Turnover
1.19 1.31 1.46 1.34 1.40 0.72 0.78 1.31 2.20 1.64 2.91 1.87 -- 2.18 1.06 1.28 1.28 Dividend Payout Ratio
-- -- -- -- -- -- -- 5.12 5.52 5.83 5.34 4.67 3.86 3.32 2.69 2.55 2.55 Days Sales Outstanding
-- -- -- -- -- -- -- 200 223 189 365 335 480 392 206 163 163 Days Accounts Payable
-- -- -- -- -- -- -- -195 -217 -183 -359 -330 -476 -389 -204 -160 -160 Cash Conversion Cycle
-- -- -- -- -- -- 0.27 0.30 0.31 0.30 0.30 0.32 0.30 0.29 0.29 0.29 0.29 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ARE 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
150 189 233 311 368 401 458 533 559 621 720 820 922 1,128 1,327 1,531 1,531 Revenue
-- -- -- -- -- -- 123 158 173 189 219 261 278 326 381 445 445 Cost of Goods Sold
150 189 233 311 368 401 335 375 386 432 501 558 643 802 946 1,086 1,086 Gross Profit
-- -- -- -- -- -- 73.07 70.42 69.08 69.56 69.58 68.13 69.79 71.14 71.29 70.91 70.91 Gross Margin %
15.11 21.09 26.01 129 147 159 34.35 41.11 47.75 48.52 53.53 59.62 63.88 75.01 90.41 109 109 Selling, General, & Admin. Expense
135 168 207 182 221 242 121 151 186 189 224 261 313 417 478 545 545 Other Operating Expense
-- -- -- -- -- -- 179 183 153 194 224 237 266 311 378 432 432 Operating Income
-- -- -- -- -- -- 39.09 34.38 27.30 31.29 31.04 28.97 28.86 27.54 28.50 28.24 28.24 Operating Margin %
-- -- -- -- -- -- 0.75 0.85 3.36 4.59 4.16 4.98 6.68 2.26 -- -- -- Interest Income
-28.67 -49.12 -69.09 -86.13 -84.11 -82.25 -61.46 -63.37 -69.18 -67.95 -79.30 -106 -107 -129 -157 -174 -174 Interest Expense
-28.67 -49.12 -69.09 -86.13 -84.11 -82.25 -68.76 -62.52 -65.82 -63.36 -75.14 -101 -107 -129 -157 -174 -174 Net Interest Income
28.67 49.12 69.09 86.13 84.11 82.25 16.32 -4.38 9.97 8.40 -42.92 9.58 -209 12.15 182 145 145 Other Income (Expense)
-- -0.63 -2.29 -3.67 -3.80 -7.05 -3.73 -3.98 -3.40 -4.03 -5.20 -1.90 -16.10 -25.11 -23.48 -40.88 -40.88 Other Income (Minority Interest)
-- -- -- -- -- -- 127 116 96.71 139 106 146 -49.80 194 403 404 404 Pre-Tax Income
56.10 60.20 65.98 82.84 101 136 127 116 96.71 139 106 146 -49.80 194 403 404 404 Net Income (Continuing Operations)
4.10 3.23 7.43 10.88 19.04 5.83 12.50 19.07 8.82 0.90 1.23 -0.04 -- -- -- -- -- Net Income (Discontinued
Operations)
60.20 63.43 73.42 93.72 116 135 135 131 102 136 102 144 -65.90 169 379 363 363 Net Income
40.23 33.56 31.51 30.14 31.64 33.57 29.55 24.66 18.28 21.94 14.10 17.60 -7.15 14.99 28.57 23.72 23.72 Net Margin %
12.60 16.09 16.09 14.82 25.55 28.36 28.36 28.36 27.33 25.89 25.70 24.99 20.22 7.67 5.06 3.20 4.36 Preferred dividends
2.37 2.26 2.28 2.66 2.87 2.72 2.19 1.73 1.09 1.60 1.01 1.63 -1.99 1.59 3.53 3.13 3.10 EPS (Basic)
2.33 2.22 2.25 2.63 2.86 2.72 2.19 1.73 1.09 1.60 1.01 1.63 -1.99 1.58 3.52 3.12 3.09 EPS (Diluted)
20.42 21.31 25.48 30.00 31.77 38.60 48.41 59.08 62.16 68.04 71.17 71.53 76.10 92.06 103 113 115 Shares Outstanding (Diluted
Average)
44.74 60.99 77.68 97.34 109 119 119 149 189 187 221 255 308 398 456 515 515 Depreciation, Depletion and
Amortization
-- -- -- -- -- -- 309 331 355 396 409 513 371 740 1,038 1,122 1,122 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ARE 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3.16 3.91 2.95 8.03 71.16 70.63 91.23 78.54 141 57.70 86.01 125 125 254 234 190 190 Cash And Cash Equivalents
3.16 3.91 2.95 8.03 71.16 70.63 91.23 78.54 141 57.70 86.01 125 125 254 234 190 190 Cash, Cash Equivalents, Marketable
Securities
-- -- -- -- -- -- -- 7.48 8.45 9.92 10.55 10.49 9.74 10.26 9.80 10.69 10.69 Accounts Receivable
-- -- -- -- -- -- -- 23.33 39.95 27.71 44.97 46.52 26.06 33.78 51.64 64.33 64.33 Other Current Assets
5.70 8.68 9.28 14.79 77.61 74.53 96.72 109 189 95.32 162 199 162 299 296 265 265 Total Current Assets
-- -- -- -- -- -- -- 95.78 115 140 354 481 430 672 1,169 1,527 1,527 Investments And Advances
-- -- -- 531 451 730 889 -- -- -- -- -- -- -- -- -- -- Land And Improvements
-- -- -- 2,786 3,013 3,250 3,907 -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
-- -- -- -- -- -- -- -- -- -- 9.56 13.68 12.84 11.07 14.79 23.03 23.03 Machinery, Furniture, Equipment
-- -- -- 1,143 1,399 1,401 1,046 -- -- -- -- -- -- -- -- -- -- Construction In Progress
1,680 2,118 3,323 4,646 5,153 5,560 6,061 -- -- -- 9.56 13.68 32.73 43.14 95.81 462 462 Gross Property, Plant and Equipment
-- -- -- -356 -429 -521 -616 -- -- -- -- -- -- -- -- -- -- Accumulated Depreciation
1,680 2,118 3,323 4,290 4,724 5,039 5,445 -- -- -- 9.56 13.68 32.73 43.14 95.81 462 462 Property, Plant and Equipment
186 236 286 337 330 344 364 6,369 6,846 7,294 7,610 8,188 9,731 11,090 12,904 16,136 16,136 Other Long Term Assets
1,872 2,362 3,617 4,642 5,132 5,457 5,906 6,574 7,150 7,530 8,136 8,881 10,355 12,104 14,465 18,391 18,391 Total Assets
-- -- -- -- -- -- -- 86.42 106 98.04 219 240 366 350 216 199 199 Accounts Payable
64.87 106 183 275 419 304 335 160 230 231 278 302 443 442 602 601 601 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 43.20 29.90 13.58 10.02 10.09 6.68 7.50 11.11 14.04 14.04 Other Current Liabilities
64.87 106 183 275 419 304 335 203 260 244 288 312 450 450 613 615 615 Total Current Liabilities
1,187 1,407 2,025 2,788 2,938 2,747 2,584 2,779 3,182 3,061 3,679 3,936 4,164 4,765 5,478 6,777 6,777 Long-Term Debt
-- -- -- -- -- -- -- 17.92 14.72 11.41 8.81 26.02 59.51 88.18 135 467 467 Capital Lease Obligation
1,187 1,407 2,025 2,788 2,938 2,747 2,584 2,797 3,197 3,072 3,687 3,962 4,224 4,853 5,613 7,244 7,244 Long-Term Debt & Capital Lease
Obligation
1.91 1.70 1.50 1.85 1.73 1.18 0.88 0.83 0.93 0.78 0.96 1.00 0.86 0.82 0.77 0.82 0.82 Debt to Equity
-- -- -- -- -- -- -- 134 178 223 230 239 266 277 280 279 279 NonCurrent Deferred Liabilities
-- 20.12 57.48 -- 41.09 82.67 57.50 42.56 46.64 47.71 66.80 305 475 522 542 1,288 1,288 Minority Interest
-- 0.00 -- 75.51 33.96 -- -- 22.90 26.73 25.29 35.70 88.36 44.77 52.90 74.68 98.38 98.38 Other Long-Term Liabilities
1,252 1,513 2,208 3,138 3,391 3,051 2,920 3,157 3,662 3,565 4,241 4,601 4,984 5,632 6,581 8,236 8,236 Total Liabilities
0.20 0.22 0.29 0.32 0.32 0.44 0.55 0.62 0.63 0.71 0.72 0.73 0.88 1.00 1.11 1.21 1.21 Common Stock
187 187 187 130 380 380 380 380 380 380 367 367 217 74.39 64.34 -- -- Preferred Stock
5.27 -- -- -- -- -- 0.73 -- -- -- -- -- -- -- -- -- -- Retained Earnings
6.04 35.03 24.60 8.09 -87.24 -33.73 -18.34 -34.51 -24.83 -36.20 -0.63 49.19 5.36 50.02 -10.44 -9.75 -9.75 Accumulated other comprehensive
income (loss)
422 607 1,140 1,366 1,407 1,977 2,566 3,029 3,086 3,572 3,461 3,558 4,673 5,824 7,287 8,874 8,874 Additional Paid-In Capital
620 830 1,352 1,504 1,700 2,323 2,929 3,374 3,442 3,917 3,828 3,975 4,896 5,950 7,342 8,866 8,866 Total Equity
0.33 0.35 0.37 0.32 0.33 0.43 0.50 0.51 0.48 0.52 0.47 0.45 0.47 0.49 0.51 0.48 0.48 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ARE 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
60.20 63.43 73.42 93.72 120 142 139 135 106 140 107 146 -49.80 194 403 404 404 Net Income
60.20 63.43 73.42 93.72 120 142 139 135 106 140 107 146 -49.80 194 403 404 404 Net Income From Continuing
Operations
44.74 60.99 77.68 97.34 109 119 119 149 189 187 221 255 308 398 456 515 515 Depreciation, Depletion and
Amortization
-- -- -- -0.43 0.31 2.55 -1.30 -2.36 -0.98 -1.52 -0.67 0.01 -0.29 -0.50 0.44 -0.90 -0.90 Change In Receivables
-- -- -- 34.00 46.75 -19.24 8.72 41.82 65.70 56.96 26.65 43.80 5.32 25.57 21.91 39.01 39.01 Change In Payables And Accrued
Expense
-38.02 -7.19 -25.71 1.32 30.86 -42.07 -20.32 -39.59 15.29 -4.79 -15.63 -30.63 -41.66 -55.79 -55.59 -37.17 -37.17 Change In Working Capital
-- -- -- 11.18 13.68 14.05 10.82 11.76 14.16 15.55 14.00 17.51 25.43 25.61 35.02 43.64 43.65 Stock Based Compensation
0.84 3.44 3.00 -33.83 -30.79 -21.10 -21.29 -9.30 -20.30 -25.75 7.92 -45.56 152 -111 -268 -241 -241 Cash Flow from Others
67.75 121 128 170 256 211 227 247 306 313 334 343 393 451 570 684 684 Cash Flow from Operations
-451 -434 -978 -1,005 -550 -446 -717 -735 -- -- -- -- -- -- -- -- -- Purchase Of Property, Plant,
Equipment
-- -- -- 70.89 80.91 43.47 294 20.08 -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -3.17 -5.26 -6.70 -17.99 -70.76 -9.03 -11.53 -78.17 -152 -102 -102 Purchase Of Business
-- -- -- -- -- -- -- -- 22.25 -- -- -- -- 38.58 68.59 0.01 -- Sale Of Business
-- -- -12.91 -16.62 -13.01 -12.90 -14.81 -28.00 -36.29 -36.08 -60.23 -95.95 -102 -172 -236 -191 -191 Purchase Of Investment
-- -- 20.59 19.65 13.31 5.63 4.71 16.85 27.04 16.53 18.97 67.14 38.95 28.18 102 129 129 Sale Of Investment
0.27 1.32 -0.00 0.00 -25.77 0.00 -8.51 -2.18 -564 -554 -523 -685 -1,424 -1,554 -1,944 -3,478 -3,478 Cash From Other Investing Activities
-451 -433 -971 -931 -495 -410 -445 -734 -558 -591 -635 -722 -1,498 -1,737 -2,162 -3,641 -3,641 Cash Flow from Investing
-- -- -- 215 -- 488 342 452 97.89 534 -- 78.46 1,432 1,275 1,293 1,216 1,216 Issuance of Stock
7.09 189 540 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Repurchase of Stock
124 -- -- -57.50 242 -- -- -221 -4.77 -0.38 -14.41 -- -207 -148 -13.98 -9.24 -9.24 Net Issuance of Preferred Stock
347 197 391 696 180 -170 1.23 405 397 -122 569 201 6.10 602 718 1,291 1,291 Net Issuance of Debt
-58.43 -73.07 -87.58 -106 -126 -119 -96.23 -135 -154 -195 -228 -243 -263 -322 -386 -451 -451 Cash Flow for Dividends
-38.59 -- -1.93 19.80 6.59 -0.79 -9.42 -20.85 -21.24 -20.00 4.93 383 125 12.55 -23.27 880 880 Other Financing
381 313 841 767 302 198 238 479 315 198 331 419 1,094 1,420 1,588 2,927 2,927 Cash Flow from Financing
-1.83 0.75 -0.96 5.08 63.13 -0.53 20.60 -12.69 62.43 -83.28 28.32 39.09 -12.60 136 -5.06 -29.44 -29.44 Net Change in Cash
-451 -434 -978 -1,005 -550 -446 -717 -735 -- -- -- -- -- -- -- -- -- Capital Expenditure
-383 -314 -850 -836 -295 -235 -490 -488 306 313 334 343 393 451 570 684 684 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ARE 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
30.37 36.23 44.42 38.66 21.10 23.29 33.76 40.10 63.60 39.76 87.86 55.10 -- 83.18 32.74 52.29 51.10 PE Ratio(TTM)
-- -- -- -- -- -- -- -- -- -- -- -- 78.26 -- -- -- -- Price to Owner Earnings
(TTM)
3.37 2.81 2.50 2.34 1.48 1.45 1.58 1.42 1.43 1.28 1.83 1.82 2.08 2.22 1.76 2.23 2.16 Price to Book
3.37 2.81 2.50 2.34 1.48 1.45 1.58 1.42 1.43 1.28 1.83 1.82 2.08 2.22 1.76 2.23 2.18 Price to Tangible Book
-- -- -- -- -- -- -- -- 14.11 13.92 18.89 18.87 21.57 26.62 20.94 26.58 25.96 Price-to-Free-Cash-Flow
Ratio
22.07 14.20 20.22 17.86 7.50 11.82 15.46 16.58 14.11 13.92 18.89 18.87 21.57 26.62 20.94 26.58 25.96 Price-to-Operating-Cash-
Flow Ratio
10.11 9.07 10.92 9.85 5.17 6.38 7.77 7.49 7.71 6.96 8.77 7.89 9.22 10.66 8.99 11.87 11.59 PS Ratio
1.30 2.16 5.44 5.67 4.00 3.99 -- -- -- -- -- 21.03 -- 27.01 3.08 3.69 3.87 PEG Ratio
18.90 18.07 22.20 19.79 14.13 15.29 15.12 13.55 14.08 12.84 14.40 13.50 15.77 16.16 14.15 18.34 18.07 EV-to-Revenue
-- -- -- -- -- 63.05 22.50 40.45 22.18 20.09 25.38 21.56 39.22 24.64 18.09 25.02 24.69 EV-to-EBITDA
-- -- -- -- -- 91.99 37.01 73.26 47.42 38.45 56.14 43.91 254 56.45 33.52 48.60 47.98 EV-to-EBIT
-- -- -- -- -- 1.09 2.70 1.37 2.11 2.60 1.78 2.28 0.39 1.77 2.98 2.06 2.09 Return on Capital %
10.27 7.03 -4.07 -10.90 -26.34 -23.16 -26.83 -27.24 -22.93 -18.62 -7.26 -4.71 13.33 6.78 14.96 17.42 17.54 Forward Rate of Return
-- -- -- 42.57 24.49 24.60 27.65 25.71 26.50 26.34 40.11 42.46 65.42 81.93 70.13 97.59 95.35 Shiller PE Ratio
3.39 3.38 2.85 2.99 5.27 2.88 2.05 2.70 3.02 4.10 3.25 3.38 2.91 2.64 3.24 2.48 2.53 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,458 1,807 2,913 3,213 1,953 2,819 4,027 4,246 4,384 4,528 6,342 6,556 9,742 13,031 12,793 19,737 19,371 Market Cap
2,829 3,417 5,179 6,123 5,241 5,957 6,957 7,387 7,866 7,970 10,377 11,064 14,533 18,226 18,778 28,080 27,713 Enterprise Value
74.42 80.50 100 102 60.34 64.29 73.26 68.97 69.32 63.62 88.74 90.36 111 131 115 162 158 Month End Stock Price
-63.72 -68.12 -78.00 -99.05 -104 -69.86 -52.50 -50.70 -56.40 -49.95 -59.07 -65.90 -60.85 -59.13 -62.05 -76.42 -76.42 Net Cash (per share)
-73.15 -76.25 -84.23 -103 -115 -78.43 -59.31 -56.37 -61.65 -54.76 -63.14 -69.94 -62.90 -59.42 -62.08 -75.80 -75.80 Net Current Asset Value
(per share)
-73.28 -76.46 -84.45 -103 -116 -78.52 -59.41 -56.78 -62.31 -55.19 -64.10 -70.85 -63.24 -59.80 -62.57 -76.36 -76.36 Net-Net Working Capital (per
share)
-40.03 -54.90 -74.80 -114 -125 -68.99 -44.52 -38.50 -7.61 24.24 37.15 51.27 73.35 88.02 93.50 101 101 Projected FCF (per share)
-- -- -- 83.36 91.11 77.91 76.96 76.67 74.81 75.35 82.97 93.20 97.55 99.13 105 115 115 Median PS (per share)
56.25 37.30 18.46 17.94 15.10 16.12 -- -- -- -- -- -- -20.40 -- 37.45 43.79 43.79 Peter Lynch Fair Value (per
share)
32.48 36.54 42.07 47.13 45.64 50.63 44.88 39.42 32.17 42.16 32.85 42.71 -- 45.75 72.06 71.38 71.04 Graham Number (per share)
-135 -165 -206 -265 -283 -199 -169 -157 -136 -125 -150 -168 -30.60 -159 -- -- -270 Earnings Power Value
(EPV)
0.80 0.82 0.86 0.67 0.39 0.65 0.89 0.94 0.86 0.91 1.04 1.03 1.25 1.55 1.36 1.60 1.55 Altman Z-Score
4.00 5.00 3.00 5.00 5.00 6.00 6.00 6.00 4.00 7.00 6.00 7.00 4.00 8.00 7.00 3.00 3.00 Piotroski F-Score
-2.40 -2.37 -2.39 -2.79 -2.47 -2.47 -2.21 3.53 -2.29 -2.40 -2.55 -2.56 -2.62 -2.52 -2.61 -2.45 -2.45 Beneish M-Score
1.42 1.20 1.45 1.18 0.99 0.99 1.00 1.04 1.00 0.98 1.00 1.00 1.07 1.07 1.10 1.19 1.01 Scaled Net Operating
Assets
23.67 15.90 25.31 18.43 6.92 6.11 5.98 9.40 4.96 5.51 4.94 5.90 10.03 12.02 13.62 18.06 18.06 Sloan Ratio (%)
0.09 0.08 0.05 0.05 0.19 0.25 0.29 0.54 0.73 0.39 0.56 0.64 0.36 0.67 0.48 0.43 0.43 Current Ratio
0.09 0.08 0.05 0.05 0.19 0.25 0.29 0.54 0.73 0.39 0.56 0.64 0.36 0.67 0.48 0.43 0.43 Quick Ratio
74.90 85.70 105 113 114 66.98 75.07 84.93 76.65 78.09 90.19 102 115 134 131 163 176 Highest Stock Price
51.65 62.87 80.50 86.13 33.59 30.71 56.89 57.19 64.75 61.02 63.62 83.40 71.65 108 110 111 134 Lowest Stock Price
-1.72 -14.53 -29.28 -8.93 -2.42 -35.46 -25.36 -12.00 -2.74 -12.53 -0.41 -1.52 -20.84 -13.82 -11.25 -10.03 -10.03 Shares Buyback Ratio (%)
5.14 21.09 3.07 13.33 11.65 -10.22 -8.94 -4.63 -0.34 1.54 10.90 13.20 5.70 1.18 4.85 5.92 6.18 YoY Rev. per Sh. Growth
(%)
-24.81 -4.66 1.26 16.89 8.75 -4.90 -19.49 -21.00 -36.99 46.79 -36.88 61.39 -222 179 123 -11.36 -12.22 YoY EPS Growth (%)
-- -- -- -- -- -- -- -12.40 1.97 2.12 -1.39 24.89 -32.15 65.00 25.04 -0.72 -0.87 YoY EBITDA Growth (%)
25.53 18.00 9.42 7.94 6.51 6.20 -3.50 -7.80 -9.80 -7.85 -- 2.62 10.20 3.08 10.64 14.17 13.00 EBITDA 5-Y Growth (%)
20.08 20.95 25.14 29.67 31.65 38.59 48.38 59.08 62.16 68.04 71.17 71.53 76.10 91.55 103 112 114 Shares Outstanding (Basic
Average)
19.59 22.44 29.01 31.60 32.37 43.85 54.97 61.56 63.24 71.17 71.46 72.55 87.67 99.78 111 122 130 Shares Outstanding (EOP)
0.28 0.65 1.15 1.49 1.87 1.52 1.38 1.11 1.11 1.18 0.80 0.48 0.85 1.03 1.01 0.51 0.51 Beta
03/16/05 03/16/06 03/01/07 02/29/08 02/17/09 03/01/10 03/01/11 02/21/12 02/26/13 03/03/14 02/24/15 02/03/16 01/31/17 01/30/18 02/05/19 02/04/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ARE 6/7
03/16/06 03/01/07 02/29/08 02/17/09 03/01/10 03/01/11 02/26/13 03/03/14 02/24/15 02/03/16 01/31/17 01/30/18 02/05/19 02/04/20 02/04/20 02/04/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ARE 7/7
Cognizant Technology Solutions Corp (NAS:CTSH) 03/03/2020 2:00PM EST GuruFocus
Price: $ 59.28 -2.05(-3.34%) Market Cap: $ 32.52 B Enterprise Value: $30.78 B Stock PDF
Financial Strength : 8/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 18.02
Cash to Debt 2.03 Operating margin (%) 15.91
Forward P/E N/A
Equity to Asset 0.68 Net-margin (%) 10.98
PE(NRI) 18.02
Interest Coverage 102.69 ROE (%) 16.79
F-Score:
P/B 2.94
ROA (%) 11.58
4 P/S 1.97
Z-Score: ROC (Joel Greenblatt) (%) 71.62
6.75 PFCF 15.62
Revenue Growth (3Y)(%) 10.70
M-Score: POCF 13.20
-2.54 EBITDA Growth (3Y)(%) 7.00
EV-to-EBIT 11.99
WACC vs 7.57% EPS Growth (3Y)(%) 8.90
ROIC 22.43% PEG 1.81
WACC
ROIC Shiller P/E 23.79
Current Ratio 2.55
Quick Ratio 2.55
Days Sales Outstanding 70.81
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Cognizant is a global IT services provider, offering consulting and outsourcing services to some of the world's largest
enterprises spanning the financial services, media and communications, healthcare, natural resources, and consumer
2016 3,202 3,370 3,453 3,462 13,487 products industries. Cognizant employs nearly 300,000 people globally, roughly 70% of whom are in India, although
2017 3,546 3,670 3,766 3,828 14,810 the company's headquarters are in Teaneck, New Jersey.... (Read More)
Good Signs 2018 3,912 4,006 4,078 4,129
, , , ,
16,125 Competitors: XMAD:AMS NSE:INFY NSE:HCLTECH TSE:6702 XPAR:CAP TSX:GIB.A BOM:507685
, , ,
NAS:CDW, TSE:9613, NYSE:LDOS, TSE:4307, NYSE:IT, NYSE:BR, NAS:JKHY, NYSE:EPAM, XKRX:018260,
Interest Coverage: 2019 4,110 4,141 4,248 4,284 16,783 BOM:532755, TSE:6701, XKRX:034730, XPAR:ATO
Comfortable 2020
Insider Trades
Revenue per Share: Quarterly Earnings per Share
Consistent growth Mar Jun Sep Dec Full Year
Dividend Yield %: Close to 3- 2016 0.72 0.41 0.73 0.68 2.54
year high 2017 0.92 0.80 0.84 -0.03 2.53
2018 0.88 0.78 0.82 1.12 3.60
Price: Close to 3-year low 2019 0.77 0.90 0.90 0.72 3.29
PB Ratio: Close to 10-year 2020
low Quarterly Dividends Per Share
PS Ratio: Close to 10-year Mar Jun Sep Dec Full Year
low 2016 0.00 0.00 0.00 0.00 0.00
2017 0.00 0.15 0.15 0.15 0.45
DCF 2018 0.20 0.20 0.20 0.20 0.80
2019 0.20 0.20 0.20 0.20 0.80
EPS without NRI: $3.29 2020
Growth Rate in the next 10
years: 13.30% Growth Rate
Terminal Growth Rate for 10 Annual Rates(per share) 10-Y 5-Y 12-M
years: 4%
Revenue Growth (%) 17.90 12.00 8.50
Fair Value: $60.20
EBITDA Growth (%) 16.90 10.30 -2.80
Free Cash Flow Growth (%) 17.50 12.40 -0.80
Reverse DCF
Book Value Growth (%) 17.20 9.30 1.70
Expected eps Growth Rate:
EPS Growth (%) 13.30 7.70 -8.60
13.07%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTSH 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1.03 1.51 2.37 3.52 4.71 5.44 7.43 9.86 12.01 14.50 16.74 20.25 22.11 24.89 27.61 29.97 29.98 Revenue per Share
0.24 0.34 0.49 0.72 0.99 1.18 1.57 2.03 2.52 3.05 3.48 4.10 4.52 5.25 5.69 5.53 5.53 EBITDA per Share
0.21 0.30 0.43 0.63 0.86 1.03 1.39 1.83 2.27 2.75 3.14 3.56 3.90 4.50 4.84 4.59 4.59 EBIT per Share
0.18 0.28 0.39 0.58 0.72 0.89 1.19 1.43 1.72 2.02 2.35 2.65 2.55 2.53 3.60 3.29 3.29 Earnings per Share (diluted)
0.18 0.28 0.39 0.58 0.72 0.89 1.19 1.43 1.72 2.02 2.35 2.65 2.55 2.53 3.60 3.29 3.29 eps without NRI
0.12 0.13 0.29 0.46 0.50 0.93 1.07 1.01 1.53 1.78 1.81 2.79 1.86 3.43 3.35 3.40 3.40 Owner Earnings per Share (TTM)
0.14 0.15 0.25 0.27 0.44 0.99 0.94 0.95 1.37 1.91 2.06 3.12 2.21 3.57 3.79 3.76 3.79 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- -- -- 0.45 0.80 0.80 0.80 Dividends per Share
0.85 1.28 1.88 2.55 3.37 4.46 5.90 6.52 8.05 10.10 12.70 15.24 17.65 18.15 19.80 20.13 20.13 Book Value per Share
0.80 1.22 1.80 2.21 3.02 4.01 5.39 5.88 7.39 9.15 7.18 9.87 11.88 11.88 11.77 10.96 10.96 Tangible Book per Share
-- -- -- -- -- -- -- -- -- -- 2.69 2.11 1.44 1.49 1.29 3.08 3.08 Total Debt per Share
10.58 12.57 19.29 16.97 9.03 22.67 36.65 32.16 36.94 50.49 52.66 60.02 56.03 71.02 63.48 62.02 59.28 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
27.55 28.48 26.04 27.55 25.09 23.16 23.52 23.45 23.87 22.36 20.74 19.09 15.53 14.06 19.02 16.41 16.79 Return on Equity %
21.37 23.05 21.20 22.13 20.45 18.73 18.52 17.51 17.48 16.77 14.67 13.24 11.37 10.20 13.53 11.49 11.58 Return on Assets %
134 107 86.97 80.32 75.96 81.58 103 114 115 118 122 135 132 121 110 79.40 71.62 Return on Capital %
88.34 74.32 60.66 52.72 43.19 42.29 55.10 59.68 58.75 55.78 35.28 28.67 25.02 22.35 29.92 23.55 22.43 Return on Invested Capital %
6.75 12.45 19.25 15.33 9.68 10.83 9.98 7.63 9.05 12.57 12.95 9.02 7.90 8.02 8.06 8.29 7.57 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- -- -- 0.37 1.23 1.76 2.63 3.34 2.14 1.78 Effective Interest Rate on Debt %
45.49 45.82 44.68 43.53 44.15 43.59 42.20 42.19 41.76 40.46 40.16 40.08 39.88 38.20 38.99 36.64 36.64 Gross Margin %
20.05 20.05 18.18 17.87 18.35 18.86 18.77 18.57 18.53 18.97 18.37 17.25 16.97 17.24 17.49 15.91 15.91 Operating Margin %
17.09 18.77 16.34 16.40 15.30 16.32 15.97 14.44 14.31 13.89 14.02 13.08 11.51 10.16 13.03 10.98 10.98 Net Margin %
13.76 9.93 10.40 7.58 9.24 18.17 12.61 9.59 11.41 13.14 12.29 15.42 9.97 14.33 13.74 12.55 12.55 FCF Margin %
-- -- -- -- -- -- -- -- -- -- 0.21 0.14 0.08 0.08 0.07 0.15 0.15 Debt to Equity
0.79 0.82 0.81 0.80 0.83 0.80 0.78 0.72 0.74 0.75 0.67 0.71 0.75 0.70 0.72 0.68 0.68 Total Equity to Total Asset
-- -- -- -- -- -- -- -- -- -- 0.14 0.10 0.06 0.06 0.05 0.10 0.10 Total Debt to Total Asset
56.90 56.27 57.96 58.75 59.03 50.04 48.93 51.18 51.01 48.82 42.03 40.55 39.37 38.38 40.47 38.37 38.67 Gross Profit to Total Asset %
1.25 1.23 1.30 1.35 1.34 1.15 1.16 1.21 1.22 1.21 1.05 1.01 0.99 1.01 1.04 1.05 1.06 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- -- 0.18 0.22 0.24 0.24 Dividend Payout Ratio
59.95 72.81 76.49 74.60 75.12 78.96 80.61 70.31 66.86 68.05 70.02 66.23 69.17 70.61 72.21 70.81 70.81 Days Sales Outstanding
12.77 12.49 12.90 10.95 9.28 10.78 10.36 7.45 9.27 7.86 8.66 8.09 7.88 8.38 7.98 8.20 8.20 Days Accounts Payable
47.18 60.32 63.59 63.65 65.84 68.18 70.25 62.86 57.59 60.19 61.36 58.14 61.29 62.23 64.23 62.61 62.61 Cash Conversion Cycle
0.55 0.54 0.55 0.56 0.56 0.56 0.58 0.58 0.58 0.60 0.60 0.60 0.60 0.62 0.61 0.63 0.63 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTSH 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
587 886 1,424 2,136 2,816 3,279 4,592 6,121 7,346 8,843 10,263 12,416 13,487 14,810 16,125 16,783 16,783 Revenue
320 480 788 1,206 1,573 1,849 2,655 3,539 4,278 5,266 6,141 7,440 8,108 9,152 9,838 10,634 10,634 Cost of Goods Sold
267 406 636 930 1,243 1,429 1,938 2,583 3,068 3,578 4,122 4,976 5,379 5,658 6,287 6,149 6,149 Gross Profit
45.49 45.82 44.68 43.53 44.15 43.59 42.20 42.19 41.76 40.46 40.16 40.08 39.88 38.20 38.99 36.64 36.64 Gross Margin %
133 207 343 494 652 721 972 1,329 1,558 1,728 2,037 2,509 2,731 2,697 3,007 2,972 2,972 Selling, General, & Admin. Expense
16.45 21.40 34.16 53.92 74.80 89.37 104 117 149 172 200 325 359 408 460 507 507 Other Operating Expense
118 178 259 382 517 618 862 1,136 1,361 1,678 1,885 2,142 2,289 2,553 2,820 2,670 2,670 Operating Income
20.05 20.05 18.18 17.87 18.35 18.86 18.77 18.57 18.53 18.97 18.37 17.25 16.97 17.24 17.49 15.91 15.91 Operating Margin %
-- -- -- -- 22.19 15.90 25.79 39.25 44.51 48.90 62.00 84.00 115 133 177 176 176 Interest Income
-- -- -- -- -- -- -- -- -- -- -3.00 -18.00 -19.00 -23.00 -27.00 -26.00 -26.00 Interest Expense
-- -- -- -- 22.19 15.90 25.79 39.25 44.51 48.90 59.00 66.00 96.00 110 150 150 150 Net Interest Income
4.47 7.66 18.87 32.83 -23.65 2.57 -9.06 -6.57 -18.41 -38.90 -20.00 -44.00 -28.00 -8.00 -173 -277 -277 Other Income (Expense)
122 185 278 414 515 637 879 1,169 1,388 1,688 1,924 2,164 2,357 2,655 2,797 2,543 2,543 Pre-Tax Income
-21.85 -19.01 -45.02 -64.22 -84.37 -102 -145 -286 -336 -459 -485 -540 -805 -1,153 -698 -643 -643 Tax Provision
17.90 10.26 16.20 15.50 16.37 16.01 16.51 24.42 24.24 27.21 25.21 24.95 34.15 43.43 24.96 25.29 25.29 Tax Rate %
100 166 233 350 431 535 734 884 1,051 1,229 1,439 1,624 1,553 1,504 2,101 1,842 1,842 Net Income (Continuing Operations)
100 166 233 350 431 535 734 884 1,051 1,229 1,439 1,624 1,553 1,504 2,101 1,842 1,842 Net Income
17.09 18.77 16.34 16.40 15.30 16.32 15.97 14.44 14.31 13.89 14.02 13.08 11.51 10.16 13.03 10.98 10.98 Net Margin %
0.19 0.31 0.41 0.61 0.75 0.91 1.22 1.46 1.74 2.03 2.37 2.67 2.56 2.54 3.61 3.30 3.29 EPS (Basic)
0.18 0.28 0.39 0.58 0.72 0.89 1.19 1.43 1.72 2.02 2.35 2.65 2.55 2.53 3.60 3.29 3.29 EPS (Diluted)
570 588 602 607 598 602 618 621 612 610 613 613 610 595 584 560 551 Shares Outstanding (Diluted
Average)
16.45 21.40 34.16 53.92 74.80 89.37 110 124 157 180 208 330 379 443 498 526 526 Depreciation, Depletion and
Amortization
134 199 293 435 591 708 972 1,261 1,544 1,858 2,135 2,512 2,755 3,121 3,322 3,095 3,095 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTSH 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
199 197 266 340 735 1,101 1,541 1,311 1,570 2,213 2,010 2,125 2,034 1,925 1,161 2,645 2,645 Cash And Cash Equivalents
115 227 382 331 27.51 298 685 1,121 1,294 1,534 1,765 2,824 3,135 3,131 3,350 779 779 Marketable Securities
315 424 648 670 763 1,399 2,226 2,432 2,864 3,747 3,775 4,949 5,169 5,056 4,511 3,424 3,424 Cash, Cash Equivalents, Marketable
Securities
96.36 177 298 436 580 709 1,014 1,179 1,346 1,649 1,969 2,253 2,556 2,865 3,190 3,256 3,256 Accounts Receivable
28.72 62.73 93.76 135 126 199 278 335 422 525 353 338 526 833 909 931 931 Other Current Assets
454 663 1,040 1,242 1,468 2,308 3,518 4,086 4,814 6,148 6,421 7,909 8,600 9,111 8,610 7,611 7,611 Total Current Assets
-- -- -- -- 162 151 -- -- -- -- -- -- 62.00 235 80.00 17.00 17.00 Investments And Advances
10.27 10.79 10.88 29.80 29.80 32.97 49.70 55.23 80.70 82.95 82.70 86.00 86.00 82.00 79.00 11.00 11.00 Land And Improvements
40.01 52.47 121 148 159 230 289 321 423 445 605 805 823 836 839 790 790 Buildings And Improvements
73.12 94.63 147 199 259 327 379 479 593 700 860 1,081 1,280 1,469 1,772 2,038 2,038 Machinery, Furniture, Equipment
14.74 53.83 36.38 122 129 70.64 95.50 211 256 361 305 115 169 145 156 133 133 Construction In Progress
138 212 316 499 654 756 923 1,214 1,545 1,801 2,099 2,350 2,624 2,840 3,184 4,277 4,277 Gross Property, Plant and Equipment
-47.44 -64.74 -95.54 -143 -199 -275 -352 -456 -574 -719 -852 -1,079 -1,313 -1,516 -1,790 -2,042 -2,042 Accumulated Depreciation
90.71 147 220 356 455 482 570 758 971 1,081 1,247 1,271 1,311 1,324 1,394 2,235 2,235 Property, Plant and Equipment
21.83 34.50 47.65 194 202 268 309 386 397 576 3,367 3,269 3,505 3,685 4,631 5,020 5,020 Intangible Assets
-- 18.22 27.19 149 154 192 224 289 309 444 2,414 2,405 2,554 2,704 3,481 3,979 3,979 Goodwill
6.22 24.99 17.78 45.73 87.67 130 185 278 339 330 444 612 784 866 1,131 1,321 1,321 Other Long Term Assets
573 870 1,326 1,838 2,375 3,338 4,583 5,508 6,522 8,135 11,479 13,061 14,262 15,221 15,846 16,204 16,204 Total Assets
11.19 16.42 27.84 36.18 39.97 54.64 75.37 72.21 109 113 146 165 175 210 215 239 239 Accounts Payable
-- -- -- -- -- -- -- 27.68 29.57 24.31 23.80 17.00 10.00 48.00 162 152 152 Total Tax Payable
90.45 154 230 259 349 595 846 345 434 505 664 701 893 1,004 1,174 1,183 1,183 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- 700 406 81.00 175 9.00 240 240 Current Portion of Long-Term Debt
15.04 -- 19.40 29.02 38.12 51.61 84.59 106 150 183 224 324 306 383 286 313 313 Current Deferred Revenue
-- -- -- -- -- -- -- 0.07 0.45 -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
15.04 -- 19.40 29.02 38.12 51.61 84.59 106 150 183 224 324 306 383 286 313 313 DeferredTaxAndRevenue
9.57 -- -0.00 52.24 -- -0.00 -- 759 793 1,087 1,004 1,283 1,138 1,277 1,241 1,247 1,247 Other Current Liabilities
115 154 250 341 388 647 931 1,210 1,377 1,775 2,592 2,714 2,418 2,839 2,710 2,983 2,983 Total Current Liabilities
-- -- -- -- -- -- -- -- -- -- 938 877 797 698 736 700 700 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 745 745 Capital Lease Obligation
-- -- -- -- -- -- -- -- -- -- 938 877 797 698 736 1,445 1,445 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- -- -- -- -- -- 0.21 0.14 0.08 0.08 0.07 0.15 0.15 Debt to Equity
4.16 -- -- 15.15 7.29 -- 4.95 3.34 2.78 21.17 92.80 52.00 157 250 245 58.00 58.00 NonCurrent Deferred Liabilities
-0.00 1.95 2.98 14.27 14.11 38.46 62.97 342 287 203 116 140 162 765 731 696 696 Other Long-Term Liabilities
119 156 252 370 409 685 999 1,555 1,667 1,999 3,739 3,783 3,534 4,552 4,422 5,182 5,182 Total Liabilities
1.34 1.39 1.43 2.88 2.92 2.97 3.04 3.03 3.02 6.08 6.10 6.00 6.00 6.00 6.00 5.00 5.00 Common Stock
251 417 650 1,000 1,430 1,965 2,699 3,583 4,634 5,862 7,302 8,925 10,478 10,544 11,485 11,022 11,022 Retained Earnings
9.65 2.12 11.78 15.20 -- 20.28 35.60 -325 -240 -276 -123 -106 -114 70.00 -114 -38.00 -38.00 Accumulated other comprehensive
income (loss)
191 293 410 451 542 665 847 693 457 544 556 453 358 49.00 47.00 33.00 33.00 Additional Paid-In Capital
454 714 1,073 1,468 1,966 2,653 3,584 3,953 4,854 6,136 7,740 9,278 10,728 10,669 11,424 11,022 11,022 Total Equity
0.79 0.82 0.81 0.80 0.83 0.80 0.78 0.72 0.74 0.75 0.67 0.71 0.75 0.70 0.72 0.68 0.68 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTSH 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
100 166 233 350 431 535 734 884 1,051 1,229 1,439 1,624 1,553 1,504 2,101 1,842 1,842 Net Income
100 166 233 350 431 535 734 884 1,051 1,229 1,439 1,624 1,553 1,504 2,101 1,842 1,842 Net Income From Continuing
Operations
16.45 21.40 34.16 53.92 74.80 89.37 110 124 157 180 208 330 379 443 498 526 526 Depreciation, Depletion and
Amortization
-42.74 -55.83 -102 -120 -168 -98.45 -278 -284 -159 -259 -259 -322 -330 -249 -365 37.00 37.00 Change In Receivables
1.55 2.21 10.82 10.55 19.28 6.68 18.60 -8.59 32.77 -12.10 26.00 19.00 6.00 16.00 -4.00 8.00 8.00 Change In Payables And Accrued
Expense
-4.36 -31.90 -45.56 -82.00 -109 64.07 -10.57 -226 16.08 -40.90 -221 108 -471 186 -407 101 101 Change In Working Capital
-22.33 -47.34 -2.28 25.06 -5.03 -26.59 -51.91 -8.60 -118 -88.20 -100.00 -126 -91.00 124 8.00 -306 -306 Change In DeferredTax
-- -- -- -- 26.91 13.26 56.98 90.23 107 119 135 192 217 221 267 217 217 Stock Based Compensation
37.33 51.33 33.76 -2.79 11.06 -2.75 -73.56 11.48 -40.80 25.60 12.00 59.00 58.00 -71.00 125 119 119 Cash Flow from Others
127 160 253 344 430 672 765 875 1,173 1,424 1,473 2,187 1,645 2,407 2,592 2,499 2,499 Cash Flow from Operations
-46.58 -71.77 -105 -182 -169 -76.64 -186 -288 -334 -262 -212 -273 -300 -284 -377 -392 -392 Purchase Of Property, Plant,
Equipment
-- -- -- -- -20.96 -68.61 -33.86 -82.80 -59.89 -194 -2,691 -2.00 -334 -216 -1,111 -617 -617 Purchase Of Business
-175 -626 -488 -969 -135 -348 -934 -1,339 -1,429 -1,849 -2,498 -3,004 -5,169 -4,726 -3,506 -1,509 -1,509 Purchase Of Investment
111 513 335 1,021 271 98.70 707 859 1,253 1,573 2,240 1,908 4,840 4,644 3,367 4,106 4,106 Sale Of Investment
-1.50 -19.81 -14.77 -147 -0.00 -- -- -- -- -- -- -- -- -- -- -- -- Cash From Other Investing Activities
-113 -205 -272 -277 -55.01 -395 -447 -850 -570 -731 -3,161 -1,371 -963 -582 -1,627 1,588 1,588 Cash Flow from Investing
36.77 47.45 51.40 67.10 54.88 61.65 107 79.55 -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -- -27.84 -16.26 -59.00 -374 -521 -179 -248 -460 -512 -1,889 -1,261 -2,247 -2,247 Repurchase of Stock
-- -- -1.75 -105 -- -- -- -- -- -- 1,635 -353 -407 -20.00 -141 -28.00 -28.00 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -265 -468 -453 -453 Cash Flow for Dividends
-- -- 33.25 42.27 16.99 31.56 179 119 178 148 116 131 176 189 177 159 159 Other Financing
36.77 47.45 82.90 4.01 44.03 76.95 120 -255 -343 -30.90 1,503 -682 -743 -1,985 -1,693 -2,569 -2,569 Cash Flow from Financing
54.93 -2.36 69.00 73.91 395 366 440 -230 259 643 -203 115 -91.00 -109 -764 1,484 1,484 Net Change in Cash
-46.58 -71.77 -105 -182 -169 -76.64 -186 -288 -334 -262 -212 -273 -300 -284 -377 -392 -392 Capital Expenditure
80.75 87.99 148 162 260 596 579 587 838 1,162 1,261 1,914 1,345 2,123 2,215 2,107 2,107 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTSH 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
60.46 44.11 49.46 29.26 12.46 25.47 30.93 22.57 21.48 25.00 22.41 22.73 22.06 28.07 17.63 18.85 18.02 PE Ratio(TTM)
88.17 95.23 66.52 37.13 18.10 24.48 34.32 31.84 24.18 28.35 29.11 21.49 30.08 20.68 18.93 18.27 17.46 Price to Owner Earnings
(TTM)
12.52 9.81 10.24 6.66 2.68 5.08 6.22 4.93 4.59 5.00 4.15 3.94 3.18 3.91 3.21 3.08 2.94 Price to Book
13.16 10.31 10.72 7.68 2.99 5.65 6.80 5.47 5.00 5.52 7.34 6.08 4.72 5.98 5.39 5.66 5.41 Price to Tangible Book
75.04 83.80 79.06 63.80 20.71 22.97 39.32 33.92 26.87 26.48 25.59 19.21 25.38 19.84 16.71 16.36 15.62 Price-to-Free-Cash-Flow
Ratio
47.44 46.38 46.15 29.88 12.56 20.37 29.77 22.78 19.21 21.62 21.91 16.82 20.76 17.51 14.28 13.81 13.20 Price-to-Operating-Cash-
Flow Ratio
10.29 8.35 8.16 4.83 1.92 4.17 4.94 3.26 3.07 3.48 3.15 2.96 2.53 2.85 2.30 2.07 1.97 PS Ratio
1.57 1.10 1.11 0.63 0.28 0.63 0.88 0.73 0.76 0.94 0.90 1.11 1.26 1.89 1.34 1.75 1.81 PEG Ratio
9.14 7.43 7.27 4.26 1.60 3.68 4.37 2.79 2.64 3.05 2.92 2.65 2.21 2.54 2.04 1.92 1.82 EV-to-Revenue
40.01 33.07 35.31 20.91 7.62 17.06 20.63 13.54 12.58 14.50 14.03 13.09 10.81 12.04 9.89 10.41 9.93 EV-to-EBITDA
45.60 37.06 39.96 23.86 8.72 19.53 23.27 15.01 14.00 16.05 15.55 15.07 12.53 14.03 11.64 12.54 11.99 EV-to-EBIT
2.19 2.70 2.50 4.19 11.47 5.12 4.30 6.66 7.14 6.23 6.43 6.64 7.98 7.13 8.59 7.97 8.34 Return on Capital %
20.70 20.76 20.69 21.01 22.71 21.79 21.53 22.20 22.48 22.43 22.74 23.15 21.21 18.39 17.80 15.98 16.04 Forward Rate of Return
-- -- -- -- 35.69 65.61 78.63 52.28 46.81 50.88 43.77 41.61 33.40 37.14 28.52 24.87 23.79 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- -- -- -- 0.63 1.26 1.29 1.38 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5,678 7,006 10,996 9,775 5,269 13,476 22,279 19,496 22,288 30,684 32,091 36,552 34,066 41,760 36,628 33,960 32,523 Market Cap
5,364 6,582 10,348 9,105 4,507 12,077 20,052 17,064 19,424 26,937 29,954 32,886 29,775 37,577 32,862 32,221 30,784 Enterprise Value
10.58 12.57 19.29 16.97 9.03 22.67 36.65 32.16 36.94 50.49 52.66 60.02 56.03 71.02 63.48 62.02 59.28 Month End Stock Price
0.36 0.48 0.69 0.52 0.61 1.20 2.02 1.45 1.98 2.88 0.06 1.91 2.69 0.86 0.15 -3.21 -3.21 Net Cash (per share)
0.62 0.91 1.38 1.51 1.82 2.73 4.14 4.17 5.22 6.83 4.40 6.78 8.33 7.75 7.26 4.44 4.44 Net Current Asset Value
(per share)
0.50 0.72 1.09 1.09 1.35 2.10 3.27 2.91 3.66 4.91 2.48 4.69 5.84 4.51 4.30 1.25 1.25 Net-Net Working Capital (per
share)
1.54 2.18 3.13 4.25 5.93 8.91 11.88 14.47 18.71 24.34 30.31 37.83 42.93 50.58 58.45 63.96 63.96 Projected FCF (per share)
-- -- -- -- 34.35 38.70 45.48 60.33 63.47 67.35 69.76 74.78 77.11 81.91 89.36 94.12 94.12 Median PS (per share)
4.38 7.13 9.75 14.50 18.13 22.25 29.63 35.63 43.00 50.50 58.47 54.07 44.42 37.52 47.41 35.50 35.50 Peter Lynch Fair Value (per
share)
1.78 2.78 3.96 5.35 7.00 8.96 11.99 13.73 16.91 20.39 19.48 24.26 26.11 26.00 30.88 28.48 28.48 Graham Number (per share)
1.25 1.87 3.00 4.02 5.69 8.55 11.83 14.84 18.75 23.53 24.38 30.97 35.47 39.02 42.65 43.47 43.47 Earnings Power Value
(EPV)
31.63 30.09 29.30 19.10 11.02 14.84 16.52 10.87 11.48 12.64 7.89 8.73 8.83 8.52 8.04 6.79 6.75 Altman Z-Score
6.00 6.00 5.00 4.00 6.00 4.00 5.00 4.00 6.00 5.00 3.00 6.00 6.00 6.00 8.00 4.00 4.00 Piotroski F-Score
-2.17 -1.57 -2.10 -1.36 -1.93 -2.59 -2.26 -2.25 -2.42 -2.36 -1.65 -2.57 -2.32 -2.62 -2.40 -2.54 -2.54 Beneish M-Score
0.38 0.51 0.49 0.60 0.65 0.53 0.41 0.33 0.36 0.37 0.69 0.49 0.49 0.46 0.50 0.59 0.59 Scaled Net Operating
Assets
14.95 24.26 19.02 15.40 2.36 7.71 9.07 15.59 6.88 6.58 27.24 6.19 6.11 -2.11 7.17 -13.85 -13.85 Sloan Ratio (%)
3.95 4.31 4.17 3.65 3.79 3.57 3.78 3.38 3.50 3.46 2.48 2.91 3.56 3.21 3.18 2.55 2.55 Current Ratio
3.95 4.31 4.17 3.65 3.79 3.57 3.78 3.38 3.50 3.46 2.48 2.91 3.56 3.21 3.18 2.55 2.55 Quick Ratio
10.69 13.12 20.55 23.72 18.39 23.13 37.08 41.45 38.84 50.49 54.49 69.76 63.31 75.67 84.83 74.60 74.85 Highest Stock Price
5.09 8.97 12.30 14.88 7.34 8.69 21.56 27.23 27.68 30.68 43.31 50.98 47.71 51.68 60.02 56.88 56.73 Lowest Stock Price
-4.28 -3.85 -2.27 -1.05 -1.30 -1.88 -2.26 0.27 0.47 -0.72 -0.27 0.07 0.16 3.29 1.87 5.10 5.10 Shares Buyback Ratio (%)
51.77 46.55 56.83 48.71 33.92 15.58 36.44 32.77 21.77 20.78 15.43 20.98 9.16 12.58 10.93 8.54 8.54 YoY Rev. per Sh. Growth
(%)
66.67 61.43 37.17 48.39 25.22 23.61 33.15 20.25 20.70 17.44 16.34 12.77 -3.77 -0.78 42.29 -8.61 -8.61 YoY EPS Growth (%)
47.80 44.26 43.66 47.23 37.94 18.81 33.79 29.20 24.27 20.72 14.31 17.66 10.20 16.14 8.45 -2.83 -2.86 YoY EBITDA Growth (%)
38.49 40.04 44.55 46.13 44.53 40.40 35.34 31.09 28.23 26.72 24.88 20.48 17.49 14.83 13.17 10.79 10.30 EBITDA 5-Y Growth (%)
524 546 563 576 580 587 602 607 603 604 608 609 607 593 582 559 547 Shares Outstanding (Basic
Average)
537 557 570 576 584 594 608 606 603 608 609 609 608 588 577 548 548 Shares Outstanding (EOP)
0.42 1.34 2.42 1.88 1.24 1.16 1.11 0.96 1.21 1.59 1.81 1.15 0.94 0.96 0.92 1.10 1.11 Beta
03/16/05 03/15/06 02/16/07 02/28/08 03/02/09 02/25/10 02/23/11 02/27/12 02/26/13 02/25/14 02/27/15 02/25/16 03/01/17 02/27/18 02/19/19 02/14/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTSH 6/7
03/15/06 02/16/07 02/16/07 02/28/08 02/25/10 02/23/11 02/26/13 02/25/14 02/27/15 02/25/16 03/01/17 02/27/18 02/19/19 02/14/20 02/14/20 02/14/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CTSH 7/7
Harley-Davidson Inc (NYSE:HOG) 03/03/2020 2:00PM EST GuruFocus
Price: $ 29.02 -2.04(-6.57%) Market Cap: $ 4.43 B Enterprise Value: $11.11 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 10.85
Cash to Debt 0.11 Operating margin (%) 10.97
Forward P/E N/A
Equity to Asset 0.17 Net-margin (%) 7.90
PE(NRI) 10.85
Interest Coverage 18.92 ROE (%) 23.22
F-Score:
P/B 2.49
ROA (%) 3.99
5 P/S 0.87
Z-Score: ROC (Joel Greenblatt) (%) 17.51
1.43 PFCF 6.71
Revenue Growth (3Y)(%) 0.80
M-Score: POCF 5.29
-2.61 EBITDA Growth (3Y)(%) -9.40
EV-to-EBIT 18.89
WACC vs 3.80% EPS Growth (3Y)(%) -11.20
ROIC 5.33% Shiller P/E 9.19
WACC
ROIC Current Ratio 1.31
Quick Ratio 1.13
Days Inventory 57.62
Days Sales Outstanding 172.35
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year Harley-Davidson is the world's leading manufacturer of heavyweight motorcycles, merchandise, parts, and
accessories. It sells custom, cruiser, and touring motorcycles and offers a complete line of Harley-Davidson motorcycle
slow down 2016 1,750 1,861 1,275 1,111 5,996 parts, accessories, riding gear, and apparel, as well as merchandise. Harley-Davidson Financial Services provides
2017 1,502 1,765 1,151 1,229 5,647 wholesale financing to dealers and retail financing and insurance brokerage services to customers. Harley captures
Long-Term Debt: Issuing new about half of all heavyweight domestic retail motorcycle registrations and is set to be present in electric, middleweight,
2018 1,542 1,713 1,316 1,146 5,717 and small-displacement markets by the end of 2020.... (Read More)
debt
2019 1,384 1,633 1,273 1,072 5,362 Competitors: NYSE:PII, NYSE:THO, TSX:DOO, NYSE:LCII, NAS:FOXF, NYSE:WGO, XPAR:TRI, NYSE:CWH,
Stock buyback: Poor 2020 XSWX:PMAG, SHSE:603766, NAS:MBUU, MIL:PIA, SHSE:603129, HKSE:01585, NYSE:MPX, SHSE:603787,
NAS:MCFT, NAS:ONEW, HKSE:00476, FRA:H9Y
buyback track record
Quarterly Earnings per Share
Insider Trades
Mar Jun Sep Dec Full Year
Good Signs 2016 1.36 1.55 0.64 0.27 3.82
Dividend Yield %: Close to 2017 1.05 1.48 0.40 0.05 2.98
10-year high 2018 1.03 1.45 0.68 0.00 3.16
2019 0.80 1.23 0.55 0.09 2.67
PE Ratio: Close to 1-year low 2020
PB Ratio: Close to 10-year Quarterly Dividends Per Share
low
Mar Jun Sep Dec Full Year
PS Ratio: Close to 10-year 2016 0.35 0.35 0.35 0.35 1.40
low 2017 0.37 0.37 0.37 0.37 1.46
2018 0.37 0.37 0.37 0.37 1.48
DCF 2019 0.38 0.38 0.38 0.38 1.50
2020
GuruFocus does not
calculate intrinsic value: DCF Growth Rate
(Earnings Based) for Annual Rates(per share) 10-Y 5-Y 12-M
companies with one star
Revenue Growth (%) 6.00 3.80 -1.00
predictability or not rated. But
you can go to each stock's EBITDA Growth (%) 8.70 -4.90 -11.80
DCF page to calculate Free Cash Flow Growth (%) 8.40 3.50 -27.00
yourself.
Book Value Growth (%) 1.60 1.60 5.20
EPS Growth (%) 16.50 -7.00 -16.00
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HOG 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.90 19.01 21.85 22.92 25.40 20.47 20.70 22.61 24.35 26.33 28.61 29.44 33.22 32.66 34.34 33.98 33.93 Revenue per Share
5.31 5.96 6.82 7.43 6.09 2.03 3.14 4.34 5.13 5.92 6.74 6.68 7.00 6.46 5.90 5.20 5.18 EBITDA per Share
4.59 5.23 6.02 6.61 5.15 0.86 2.05 3.57 4.40 5.18 5.91 5.71 5.84 5.18 4.31 3.73 3.70 EBIT per Share
3.00 3.41 3.93 3.74 2.79 -0.24 0.62 2.55 2.72 3.28 3.88 3.69 3.83 3.02 3.19 2.68 2.67 Earnings per Share (diluted)
3.00 3.41 3.93 3.74 2.92 0.30 1.11 2.33 2.72 3.28 3.88 3.69 3.83 3.02 3.19 2.68 2.67 eps without NRI
2.95 3.42 4.00 3.76 2.92 0.07 2.24 3.00 2.33 3.27 3.36 3.26 4.14 3.40 4.35 2.73 2.73 Owner Earnings per Share (TTM)
2.10 2.72 2.04 2.23 -3.89 1.80 3.93 2.96 2.67 3.43 4.20 4.13 5.09 4.62 5.96 4.35 4.33 Free Cashflow per Share
0.41 0.63 0.81 1.06 1.29 0.40 0.40 0.48 0.62 0.84 1.10 1.24 1.40 1.46 1.48 1.50 1.50 Dividends per Share
10.94 11.25 10.68 9.96 9.06 9.00 9.37 10.50 11.31 13.68 13.73 9.96 10.91 10.97 11.11 11.69 11.69 Book Value per Share
10.73 11.05 10.46 9.70 8.80 8.86 9.25 10.37 11.18 13.54 13.60 9.67 10.61 10.60 10.73 11.21 11.21 Tangible Book per Share
4.40 4.40 6.60 8.81 16.76 24.05 24.42 24.82 22.57 23.91 25.98 37.20 38.69 41.57 47.60 48.66 48.66 Total Debt per Share
60.75 51.49 70.47 46.71 16.97 25.20 34.67 38.87 48.83 69.24 65.91 45.39 58.34 50.88 34.12 37.19 29.02 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
28.81 30.45 35.72 36.39 29.16 -2.61 6.79 25.90 25.07 26.37 28.54 31.68 36.82 27.72 29.38 23.68 23.22 Return on Equity %
17.10 17.87 19.34 16.69 9.71 -0.65 1.58 6.27 6.62 7.90 8.92 7.71 6.97 5.25 5.15 4.00 3.99 Return on Assets %
131 144 157 158 102 14.82 37.64 41.80 35.09 39.37 41.40 34.87 31.02 26.49 21.43 17.54 17.51 Return on Capital %
31.75 30.86 30.14 20.51 16.28 3.08 7.48 9.36 10.33 11.21 11.59 9.82 8.89 6.62 7.66 5.37 5.33 Return on Invested Capital %
8.27 10.95 13.47 10.81 9.21 10.16 11.03 10.00 8.18 6.15 6.07 3.84 5.74 3.87 5.36 4.65 3.80 Weighted Average Cost Of Capital (WACC) %
-- -- -- 10.73 4.70 0.45 1.59 0.79 0.85 0.87 0.08 0.20 0.43 0.45 0.42 0.41 0.42 Effective Interest Rate on Debt %
37.88 38.20 38.49 36.92 38.76 33.40 37.82 37.20 38.74 39.64 40.48 41.32 39.97 38.86 37.99 35.84 35.84 Gross Margin %
27.15 27.52 27.53 21.19 20.29 9.38 14.90 16.91 18.43 19.55 20.57 19.28 17.45 15.62 14.11 10.97 10.97 Operating Margin %
17.74 17.96 17.98 16.31 10.99 -1.15 3.02 11.28 11.18 12.44 13.56 12.55 11.54 9.24 9.30 7.90 7.90 Net Margin %
12.41 14.31 9.35 9.71 -15.31 8.80 18.96 13.11 10.97 13.03 14.68 14.01 15.31 14.14 17.36 12.81 12.81 FCF Margin %
0.40 0.39 0.62 0.88 1.85 2.67 2.61 2.36 2.00 1.75 1.89 3.74 3.55 3.79 4.28 4.16 4.16 Debt to Equity
0.59 0.59 0.50 0.42 0.27 0.23 0.23 0.25 0.28 0.32 0.31 0.18 0.19 0.19 0.17 0.17 0.17 Total Equity to Total Asset
0.24 0.23 0.31 0.37 0.50 0.62 0.61 0.59 0.56 0.56 0.58 0.69 0.69 0.70 0.71 0.71 0.71 Total Debt to Total Asset
36.51 38.00 41.40 37.79 34.23 18.81 19.77 20.69 22.95 25.18 26.64 25.41 24.13 22.10 21.05 18.13 18.10 Gross Profit to Total Asset %
0.96 1.00 1.08 1.02 0.88 0.56 0.52 0.56 0.59 0.64 0.66 0.62 0.60 0.57 0.55 0.51 0.50 Asset Turnover
0.14 0.18 0.21 0.28 0.44 1.33 0.36 0.20 0.23 0.26 0.28 0.34 0.37 0.48 0.46 0.56 0.56 Dividend Payout Ratio
8.83 8.34 9.00 11.55 16.26 20.56 19.71 136 129 126 127 140 144 157 161 172 172 Days Sales Outstanding
28.61 29.92 29.00 30.33 30.35 18.63 27.22 27.98 27.48 24.58 19.38 24.44 23.86 24.06 29.33 31.23 31.23 Days Accounts Payable
25.46 24.78 26.05 32.20 36.47 40.24 39.23 40.73 43.33 41.92 43.00 53.68 55.05 54.87 56.34 61.52 57.62 Days Inventory
5.68 3.20 6.05 13.42 22.38 42.17 31.72 149 145 143 150 169 175 188 188 203 199 Cash Conversion Cycle
14.34 14.73 14.01 11.33 10.01 9.07 9.31 8.96 8.42 8.71 8.49 6.80 6.63 6.65 6.48 5.93 6.34 Inventory Turnover
0.62 0.62 0.62 0.63 0.61 0.67 0.62 0.63 0.61 0.60 0.60 0.59 0.60 0.61 0.62 0.64 0.64 COGS to Revenue
0.04 0.04 0.04 0.06 0.06 0.07 0.07 0.07 0.07 0.07 0.07 0.09 0.09 0.09 0.10 0.11 0.10 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HOG 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5,015 5,342 5,801 5,727 5,955 4,782 4,859 5,312 5,581 5,900 6,229 5,995 5,996 5,647 5,717 5,362 5,362 Revenue
3,116 3,302 3,568 3,613 3,647 3,185 3,022 3,336 3,418 3,561 3,707 3,518 3,600 3,453 3,545 3,440 3,440 Cost of Goods Sold
1,900 2,040 2,233 2,114 2,308 1,597 1,838 1,976 2,162 2,338 2,521 2,477 2,397 2,195 2,172 1,922 1,922 Gross Profit
37.88 38.20 38.49 36.92 38.76 33.40 37.82 37.20 38.74 39.64 40.48 41.32 39.97 38.86 37.99 35.84 35.84 Gross Margin %
821 762 846 901 1,060 979 1,020 1,061 1,111 1,125 1,160 1,220 1,214 1,180 1,258 1,199 1,199 Selling, General, & Admin. Expense
-283 -192 -211 -0.00 39.56 169 93.12 17.03 22.24 60.01 80.95 101 137 132 107 135 135 Other Operating Expense
1,361 1,470 1,597 1,213 1,208 449 724 898 1,029 1,154 1,281 1,156 1,046 882 807 588 588 Operating Income
27.15 27.52 27.53 21.19 20.29 9.38 14.90 16.91 18.43 19.55 20.57 19.28 17.45 15.62 14.11 10.97 10.97 Operating Margin %
-- -- -- 416 377 4.25 5.44 7.96 -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -204 -141 -21.68 -90.36 -45.27 -46.03 -45.26 -4.16 -12.12 -29.67 -31.00 -30.88 -31.08 -31.08 Interest Expense
-- -- -- 212 -141 -17.43 -90.36 -45.27 -46.03 -45.26 -4.16 -12.12 -29.67 -31.00 -30.88 -31.08 -31.08 Net Interest Income
18.00 17.75 27.09 22.26 -1.18 -253 -243 -60.03 -21.11 5.86 6.50 6.59 7.29 12.76 -89.41 0.53 0.53 Other Income (Expense)
1,379 1,488 1,624 1,448 1,066 179 390 793 962 1,114 1,283 1,150 1,024 864 687 557 557 Pre-Tax Income
-490 -528 -581 -514 -382 -108 -131 -245 -338 -380 -439 -398 -332 -342 -155 -134 -134 Tax Provision
35.50 35.50 35.78 35.50 35.81 60.46 33.50 30.86 35.11 34.13 34.19 34.60 32.40 39.60 22.60 24.00 24.00 Tax Rate %
890 960 1,043 934 684 70.64 260 548 624 734 845 752 692 522 531 424 424 Net Income (Continuing Operations)
-- -- -- -- -29.52 -126 -113 51.04 -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
890 960 1,043 934 655 -55.12 147 599 624 734 845 752 692 522 531 424 424 Net Income
17.74 17.96 17.98 16.31 10.99 -1.15 3.02 11.28 11.18 12.44 13.56 12.55 11.54 9.24 9.30 7.90 7.90 Net Margin %
3.02 3.42 3.94 3.75 2.80 -0.24 0.63 2.57 2.75 3.30 3.90 3.71 3.85 3.03 3.21 2.70 2.67 EPS (Basic)
3.00 3.41 3.93 3.74 2.79 -0.24 0.62 2.55 2.72 3.28 3.88 3.69 3.83 3.02 3.19 2.68 2.67 EPS (Diluted)
297 281 265 250 234 234 235 235 229 224 218 204 181 173 167 158 155 Shares Outstanding (Diluted
Average)
214 206 214 204 221 273 255 180 169 167 179 198 210 222 265 233 233 Depreciation, Depletion and
Amortization
1,576 1,676 1,811 1,856 1,428 474 736 1,018 1,177 1,327 1,467 1,360 1,263 1,117 982 821 821 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HOG 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
275 141 238 403 569 1,630 1,022 1,527 1,068 1,067 907 722 760 688 1,204 834 834 Cash And Cash Equivalents
1,337 905 658 2.48 -- 39.69 140 153 136 99.01 57.33 45.19 5.52 -- 10.01 -- -- Marketable Securities
1,612 1,046 897 405 569 1,670 1,162 1,680 1,204 1,166 964 767 766 688 1,214 834 834 Cash, Cash Equivalents, Marketable
Securities
121 122 143 181 265 269 262 1,980 1,973 2,035 2,164 2,301 2,361 2,436 2,521 2,532 2,532 Accounts Receivable
78.75 90.96 123 274 244 189 202 235 234 268 268 307 263 301 313 380 380 Inventories, Raw Materials &
Components
-21.63 -23.29 -28.73 -32.13 -40.13 -34.44 -34.04 -43.53 -45.89 -48.73 -49.90 -49.27 -48.27 -52.36 -58.64 -56.43 -56.43 Inventories, Inventories
Adjustments
75.84 73.74 94.40 108 175 168 158 226 206 205 230 328 285 290 302 280 280 Inventories, Finished Goods
93.93 80.02 98.75 -- 0.00 -- 0.00 -0.00 -- -- -0.00 0.00 -- -- -- 0.00 0.00 Inventories, Other
227 221 288 350 379 323 326 418 394 425 449 586 500 538 556 604 604 Total Inventories
98.85 114 122 175 491 643 536 464 481 364 371 324 227 223 194 234 234 Other Current Assets
3,683 3,145 3,551 3,467 5,527 4,342 4,067 4,542 4,051 3,989 3,948 3,978 3,854 3,885 4,484 4,203 4,203 Total Current Assets
40.87 44.67 49.13 49.92 59.60 59.92 59.61 60.00 57.80 56.15 55.24 56.55 65.53 70.26 73.03 75.80 75.80 Land And Improvements
355 379 378 392 470 475 478 467 417 424 475 453 464 464 484 507 507 Buildings And Improvements
1,629 1,797 1,957 2,040 2,278 2,312 2,069 1,920 2,042 2,154 2,264 2,384 2,517 2,550 2,474 2,361 2,361 Machinery, Furniture, Equipment
168 113 148 275 131 112 166 158 167 169 201 280 214 200 206 149 149 Construction In Progress
2,193 2,334 2,533 2,758 2,938 2,959 2,772 2,605 2,685 2,803 2,996 3,174 3,262 3,285 3,236 3,154 3,154 Gross Property, Plant and Equipment
-1,169 -1,322 -1,508 -1,697 -1,881 -2,052 -1,957 -1,796 -1,869 -1,961 -2,113 -2,231 -2,280 -2,318 -2,332 -2,245 -2,245 Accumulated Depreciation
1,025 1,012 1,024 1,061 1,057 907 815 809 815 842 883 942 982 968 904 909 909 Property, Plant and Equipment
59.46 56.56 58.80 61.40 60.13 31.40 29.59 29.08 29.53 30.45 27.75 54.18 53.39 62.86 61.05 74.76 74.76 Intangible Assets
-- -- 58.80 61.40 60.13 31.40 29.59 29.08 29.53 30.45 27.75 54.18 53.39 55.95 55.05 64.16 64.16 Goodwill
716 1,042 898 1,067 1,185 3,875 4,519 4,293 4,275 4,543 4,669 4,998 5,001 5,057 5,216 5,342 5,342 Other Long Term Assets
5,483 5,255 5,532 5,657 7,829 9,156 9,431 9,674 9,171 9,405 9,528 9,973 9,890 9,973 10,666 10,528 10,528 Total Assets
244 271 283 300 303 163 225 256 257 240 197 236 235 228 285 294 294 Accounts Payable
-- -- -- -- -- -- 63.12 57.71 19.92 21.97 28.33 18.54 26.14 25.94 43.08 29.87 29.87 Total Tax Payable
677 668 763 785 807 677 378 771 736 661 646 708 722 736 852 843 843 Accounts Payable & Accrued
Expense
495 205 832 1,120 1,739 1,522 1,232 1,879 732 1,842 1,743 2,040 2,141 2,401 2,712 2,339 2,339 Current Portion of Long-Term Debt
-- -0.00 -0.00 -- 77.94 69.54 404 48.45 35.14 6.11 -- -- 0.14 21.31 33.81 14.80 14.80 Other Current Liabilities
1,173 873 1,596 1,905 2,623 2,268 2,014 2,699 1,503 2,510 2,389 2,747 2,863 3,158 3,598 3,197 3,197 Total Current Liabilities
800 1,000 870 980 2,176 4,114 4,521 3,844 4,371 3,417 3,762 4,832 4,667 4,587 4,888 5,125 5,125 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 44.45 44.45 Capital Lease Obligation
800 1,000 870 980 2,176 4,114 4,521 3,844 4,371 3,417 3,762 4,832 4,667 4,587 4,888 5,169 5,169 Long-Term Debt & Capital Lease
Obligation
0.40 0.39 0.62 0.88 1.85 2.67 2.61 2.36 2.00 1.75 1.89 3.74 3.55 3.79 4.28 4.16 4.16 Debt to Equity
-- -- -- 244 758 510 537 571 608 253 279 359 258 173 202 129 129 PensionAndRetirementBenefit
51.43 155 -- -- -- -- -- -- -- 49.50 -- -- -- -- -- 8.14 8.14 NonCurrent Deferred Liabilities
241 143 310 152 155 155 153 140 131 167 189 195 183 210 204 221 221 Other Long-Term Liabilities
2,265 2,172 2,775 3,281 5,713 7,047 7,224 7,254 6,613 6,396 6,619 8,133 7,970 8,128 8,892 8,724 8,724 Total Liabilities
3.30 3.31 3.34 3.35 3.36 3.37 3.38 3.39 3.41 3.43 3.44 3.45 1.81 1.81 1.82 1.83 1.83 Common Stock
3,845 4,630 5,461 6,118 6,459 6,324 6,336 6,824 7,306 7,853 8,459 8,962 1,338 1,608 2,008 2,194 2,194 Retained Earnings
-12.10 58.65 -207 -137 -523 -418 -366 -477 -608 -333 -515 -615 -565 -500 -630 -537 -537 Accumulated other comprehensive
income (loss)
533 596 766 812 847 871 908 968 1,066 1,175 1,265 1,329 1,382 1,423 1,460 1,491 1,491 Additional Paid-In Capital
-1,150 -2,205 -3,267 -4,420 -4,671 -4,673 -4,674 -4,899 -5,211 -5,689 -6,304 -7,839 -236 -688 -1,065 -1,346 -1,346 Treasury Stock
3,218 3,084 2,757 2,375 2,116 2,108 2,207 2,420 2,558 3,009 2,909 1,840 1,920 1,844 1,774 1,804 1,804 Total Equity
0.59 0.59 0.50 0.42 0.27 0.23 0.23 0.25 0.28 0.32 0.31 0.18 0.19 0.19 0.17 0.17 0.17 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HOG 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
890 960 1,043 934 684 70.64 260 548 624 734 845 752 692 522 531 424 424 Net Income
-- -- -- -14.58 2.89 -22.23 -21.48 10.68 9.77 16.27 21.96 20.07 -- -- -- -- -- Net Foreign Currency Exchange
Gain
890 960 1,043 934 684 70.64 260 548 624 734 845 752 692 522 531 424 424 Net Income From Continuing
Operations
214 206 214 204 221 273 255 180 169 167 179 198 210 222 265 233 233 Depreciation, Depletion and
Amortization
-31.51 -27.81 -39.80 -46.13 -4.44 5.45 94.52 45.74 -11.18 -8.13 -87.53 -131 -50.66 15.71 -46.62 27.96 27.96 Change In Receivables
-12.81 -6.37 -54.35 -48.02 -42.26 85.47 2.52 -94.96 21.46 -46.47 -50.89 -155 85.07 -20.58 -31.06 -47.58 -47.58 Change In Inventory
-- -- -- -- -- -- 3.13 3.10 -97.72 68.68 -3.39 30.37 -- -- -- -- -- Change In Prepaid Assets
35.69 24.81 76.06 48.16 46.00 -201 215 120 -10.80 -78.67 21.31 139 38.24 10.13 196 -18.46 -18.46 Change In Payables And Accrued
Expense
-17.25 -19.26 -18.81 -48.51 -14.37 -36.60 288 79.76 -112 -66.78 -120 -122 41.49 -20.81 148 -64.25 -64.25 Change In Working Capital
-41.31 48.17 -39.77 -60.53 -46.73 6.93 -17.59 87.87 128 52.58 -7.62 -16.48 -0.17 50.86 -33.98 21.55 21.55 Change In DeferredTax
-- -- -- 20.97 24.47 17.58 30.43 38.19 40.82 41.24 37.93 29.43 32.34 32.49 35.54 33.73 33.74 Stock Based Compensation
-209 -232 -437 -262 -1,518 185 348 -49.02 -49.15 48.99 212 259 199 199 260 221 221 Cash Flow from Others
836 963 762 798 -683 538 1,092 885 801 977 1,147 1,100 1,174 1,005 1,206 868 868 Cash Flow from Operations
-214 -198 -220 -242 -229 -117 -171 -189 -189 -208 -232 -260 -256 -206 -214 -181 -181 Purchase Of Property, Plant,
Equipment
-- -- -- -- -95.55 -- -- -- -- -- -- -59.91 -- -- -- -7.00 -7.00 Purchase Of Business
-1,091 -1,352 -971 -982 -609 -1,418 -184 -143 -4.99 -5.00 -- -- -- -- -10.01 -- -- Purchase Of Investment
742 1,784 1,224 1,612 545 668 84.22 130 23.30 40.11 41.01 11.51 40.01 6.92 -- 10.01 -- Sale Of Investment
-- -- -- -- -99.96 -18.81 -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-15.40 -38.85 -69.17 2.79 92.98 2.83 416 138 -90.61 -396 -553 -607 -176 -363 -439 -330 -320 Cash From Other Investing Activities
-578 194 -35.26 391 -395 -882 145 -63.54 -261 -569 -745 -916 -393 -562 -662 -508 -508 Cash Flow from Investing
62.17 31.26 126 21.48 1.18 0.01 7.85 7.84 -- -- -- -- -- -- -- -- -- Issuance of Stock
-564 -1,055 -1,062 -1,153 -250 -1.92 -1.71 -225 -312 -479 -616 -1,537 -465 -465 -391 -297 -297 Repurchase of Stock
305 -80.72 493 352 1,845 1,991 -1,850 -46.76 -637 160 246 1,397 -78.26 156 618 -182 -182 Net Issuance of Debt
-119 -174 -213 -261 -302 -93.81 -94.15 -111 -142 -188 -238 -249 -252 -252 -246 -237 -237 Cash Flow for Dividends
-- 6.07 18.93 3.07 0.32 -513 89.27 73.38 101 114 72.08 35.06 18.03 11.35 3.53 3.59 3.59 Other Financing
-316 -1,272 -637 -1,038 1,293 1,382 -1,856 -309 -990 -393 -536 -354 -778 -550 -14.76 -712 -712 Cash Flow from Financing
-54.17 -134 97.42 164 191 1,043 -615 505 -459 -1.53 -160 -184 -5.72 -80.92 514 -354 -354 Net Change in Cash
-214 -198 -220 -242 -229 -117 -171 -189 -189 -208 -232 -260 -256 -206 -214 -181 -181 Capital Expenditure
622 764 542 556 -912 421 922 696 612 769 914 840 918 799 992 687 687 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HOG 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
20.32 15.10 17.89 12.49 6.08 -- 55.92 15.18 18.03 21.17 17.03 12.54 15.27 17.07 10.79 13.93 10.85 PE Ratio(TTM)
20.57 15.08 17.62 12.44 5.81 350 15.51 12.94 20.95 21.18 19.62 13.94 14.08 14.96 7.85 13.61 10.62 Price to Owner Earnings
(TTM)
5.56 4.58 6.60 4.69 1.87 2.80 3.70 3.70 4.32 5.06 4.80 4.56 5.35 4.64 3.07 3.18 2.49 Price to Book
5.66 4.66 6.74 4.81 1.93 2.84 3.75 3.75 4.37 5.11 4.85 4.70 5.50 4.80 3.18 3.32 2.59 Price to Tangible Book
29.03 19.20 35.63 23.20 -- 14.04 8.83 13.21 18.26 20.13 15.73 11.26 11.42 11.10 5.75 8.58 6.71 Price-to-Free-Cash-Flow
Ratio
21.60 15.18 25.09 15.61 -- 10.99 7.45 10.37 13.94 15.84 12.52 8.50 8.93 8.79 4.73 6.78 5.29 Price-to-Operating-Cash-
Flow Ratio
3.60 2.71 3.17 2.00 0.67 1.23 1.68 1.72 2.01 2.63 2.31 1.55 1.76 1.56 1.00 1.10 0.87 PS Ratio
2.76 1.06 0.82 0.44 0.16 -- -- -- -- 1.46 0.46 0.74 1.70 4.82 -- -- -- PEG Ratio
3.50 2.67 3.22 2.20 1.23 2.06 2.63 2.45 2.68 3.28 2.97 2.42 2.72 2.63 2.07 2.32 2.08 EV-to-Revenue
11.15 8.51 10.20 6.92 5.12 25.01 17.33 12.77 12.70 14.57 12.62 10.65 12.91 13.30 12.05 15.12 13.54 EV-to-EBITDA
12.90 9.71 11.52 7.77 6.06 81.43 26.53 15.52 14.83 16.66 14.37 12.47 15.48 16.60 16.49 21.09 18.89 EV-to-EBIT
7.75 10.30 8.68 12.87 16.50 1.23 3.77 6.44 6.74 6.00 6.96 8.02 6.46 6.02 6.06 4.74 5.29 Return on Capital %
10.07 18.00 22.88 24.40 25.33 -3.81 -22.24 -20.23 -7.75 17.91 24.95 24.05 15.18 11.53 12.33 7.32 9.77 Forward Rate of Return
43.50 29.75 33.39 18.68 6.32 9.64 13.44 14.29 17.45 24.21 22.94 15.93 20.71 18.47 12.18 11.79 9.19 Shiller PE Ratio
0.67 1.21 1.15 2.27 7.60 1.59 1.15 1.22 1.27 1.21 1.67 2.73 2.40 2.87 4.34 4.03 5.16 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
17,879 14,108 18,185 11,140 3,964 5,905 8,166 8,961 11,040 15,230 13,965 8,385 10,265 8,552 5,448 5,738 4,434 Market Cap
17,563 14,267 18,991 12,835 7,310 9,871 12,756 13,003 14,939 19,324 18,505 14,490 16,307 14,853 11,833 12,413 11,109 Enterprise Value
60.75 51.49 70.47 46.71 16.97 25.20 34.67 38.87 48.83 69.24 65.91 45.39 58.34 50.88 34.12 37.19 29.02 Month End Stock Price
-2.22 -4.11 -7.28 -12.06 -22.02 -22.95 -25.74 -24.18 -23.92 -23.78 -26.69 -39.87 -40.95 -44.27 -48.09 -51.14 -51.14 Net Cash (per share)
4.82 3.55 3.00 0.78 -0.80 -11.55 -13.41 -11.76 -11.33 -10.94 -12.61 -22.49 -23.39 -25.25 -27.60 -29.30 -29.30 Net Current Asset Value
(per share)
-1.52 -3.37 -6.31 -10.75 -20.36 -21.40 -24.21 -16.83 -16.51 -15.87 -17.97 -28.95 -29.46 -31.80 -34.51 -36.88 -36.88 Net-Net Working Capital (per
share)
31.78 36.34 37.80 38.31 26.46 20.89 22.97 23.59 25.09 28.74 44.07 49.14 55.75 54.35 59.65 62.10 62.10 Projected FCF (per share)
58.02 66.48 77.80 81.74 87.14 64.20 59.68 61.48 50.73 54.81 59.37 57.97 60.20 56.67 59.42 58.79 58.79 Median PS (per share)
22.01 48.39 85.77 93.50 73.00 -- -- -- -- 47.35 96.75 61.47 34.27 -- -- -- -- Peter Lynch Fair Value (per
share)
26.92 29.11 30.41 28.57 24.04 7.73 15.17 23.33 26.16 31.62 34.46 28.33 30.24 26.84 27.75 26.00 25.95 Graham Number (per share)
15.99 20.73 25.41 26.04 26.82 15.76 8.84 7.78 8.35 8.06 14.13 10.34 11.76 8.20 3.38 -1.21 -1.21 Earnings Power Value
(EPV)
8.01 7.60 7.77 5.76 3.29 2.31 2.56 2.79 3.42 3.82 3.80 3.01 2.04 1.81 1.49 1.49 1.43 Altman Z-Score
5.00 6.00 7.00 3.00 4.00 2.00 7.00 7.00 8.00 8.00 8.00 5.00 5.00 5.00 7.00 5.00 5.00 Piotroski F-Score
-2.77 -2.31 -2.37 -2.11 -1.46 -1.89 -2.89 2.95 -2.54 -2.56 -2.59 -2.66 -2.67 -2.68 -2.74 -2.61 -2.61 Beneish M-Score
0.59 0.59 0.68 0.74 0.97 0.78 0.74 0.69 0.67 0.78 0.79 0.83 0.80 0.82 0.82 0.80 0.80 Scaled Net Operating
Assets
11.52 -3.75 5.72 -4.52 22.13 3.16 -11.57 -2.30 0.91 3.46 4.65 5.69 -0.90 0.79 -0.11 0.60 0.60 Sloan Ratio (%)
3.14 3.60 2.23 1.82 2.11 1.91 2.02 1.68 2.70 1.59 1.65 1.45 1.35 1.23 1.25 1.31 1.31 Current Ratio
2.95 3.35 2.04 1.64 1.96 1.77 1.86 1.53 2.43 1.42 1.46 1.23 1.17 1.06 1.09 1.13 1.13 Quick Ratio
62.97 62.18 75.50 73.85 46.71 29.58 35.49 45.91 53.49 69.36 73.94 66.13 62.07 62.94 55.95 41.04 41.40 Highest Stock Price
46.00 44.40 47.96 44.96 11.90 8.20 21.51 32.10 38.87 48.69 55.48 45.12 37.49 44.78 31.91 30.39 28.89 Lowest Stock Price
2.39 6.90 5.82 7.58 2.06 -0.31 -0.52 2.11 1.93 2.72 3.67 12.81 4.76 4.47 5.02 3.36 3.36 Shares Buyback Ratio (%)
11.20 12.51 14.97 4.87 10.83 -19.39 1.09 9.25 7.67 8.15 8.66 2.88 12.84 -1.68 5.14 -1.04 -1.06 YoY Rev. per Sh. Growth
(%)
20.00 13.67 15.25 -4.83 -25.40 -109 358 311 6.67 20.59 18.29 -4.90 3.79 -21.15 5.63 -15.99 -15.59 YoY EPS Growth (%)
343 12.34 14.42 8.87 -18.01 -66.68 54.51 38.28 18.41 15.35 13.78 -0.86 4.76 -7.69 -8.65 -11.81 -11.82 YoY EBITDA Growth (%)
7.36 14.19 21.77 28.13 36.23 -6.71 -24.82 -22.40 -9.55 14.48 36.66 16.98 8.97 3.54 -1.12 -5.13 -4.90 EBITDA 5-Y Growth (%)
295 280 265 249 234 233 233 233 227 222 216 203 180 172 166 157 154 Shares Outstanding (Basic
Average)
294 274 258 239 234 234 236 231 226 220 212 185 176 168 160 154 154 Shares Outstanding (EOP)
0.74 1.23 1.60 1.34 1.65 2.30 2.46 2.41 1.68 0.84 1.03 0.70 1.14 0.74 1.56 1.38 1.37 Beta
03/11/05 03/03/06 02/27/07 02/22/08 02/17/09 02/23/10 02/24/11 02/23/12 02/22/13 02/20/14 02/19/15 02/18/16 02/21/17 02/21/18 02/28/19 02/19/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HOG 6/7
03/03/06 02/27/07 02/22/08 02/17/09 02/23/10 02/23/12 02/22/13 02/20/14 02/19/15 02/18/16 02/21/17 02/21/18 02/28/19 02/19/20 02/19/20 02/19/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HOG 7/7
Mylan NV (NAS:MYL) 03/03/2020 2:00PM EST GuruFocus
Price: $ 16.50 -0.98(-5.61%) Market Cap: $ 8.52 B Enterprise Value: $21.31 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 550.00
Cash to Debt 0.04 Operating margin (%) 6.04
Forward P/E N/A
Equity to Asset 0.38 Net-margin (%) 0.15
PE(NRI) 550.00
Interest Coverage 1.34 ROE (%) 0.14
F-Score:
P/B 0.72
ROA (%) 0.05
6 P/S 0.75
Z-Score: ROC (Joel Greenblatt) (%) 18.03
1.06 PFCF 8.31
Revenue Growth (3Y)(%) 5.30
M-Score: POCF 4.86
-2.72 EBITDA Growth (3Y)(%) 7.50
EV-to-EBIT 31.73
WACC vs 7.39% EPS Growth (3Y)(%) -26.30
ROIC 0.30% PEG 27.35
WACC
ROIC Shiller P/E 12.73
Current Ratio 1.43
Quick Ratio 0.84
Days Inventory 129.62
Days Sales Outstanding 97.08
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year Registered in the Netherlands, Mylan is a leading generic drugmaker, with roughly 55 manufacturing and R&D
facilities. Although the company was formed in 1961, the company's position as the second- largest generic company
slow down 2016 2,191 2,561 3,057 3,268 11,077 was largely attributable to the acquisition of Matrix Laboratories and generics business of Germany-based Merck
2017 2,720 2,962 2,987 3,239 11,908 KGaA. Mylan has a portfolio of more than 7,500 generic, specialty, and over-the-counter active ingredients and
PE Ratio: Close to 10-year medicines and is predominantly recognized for manufacturing the EpiPen (treatment for anaphylaxis), which was
2018 2,685 2,808 2,862 3,079 11,434 acquired through the Merk KGaA transaction.... (Read More)
high
2019 2,496 2,852 2,962 3,192 11,501 Competitors: NAS:PPD, SZSE:300601 , TSE:4508 , XSWX:VIFN, NYSE:ELAN, TSX:BHC, SHSE:600196 ,
ROIC vs. WACC: Return on 2020 NYSE:CTLT, NSE:SUNPHARMA, SZSE:000661, NYSE:PRGO, SZSE:002001, SHSE:600332, NSE:DIVISLAB,
invested capital is less than OCSE:LUN, TSX:WEED, BOM:500124, XTAE:TEVA, NAS:MDCO, SZSE:300142
Quarterly Earnings per Share
weighted average cost of
Insider Trades
capital. Mar Jun Sep Dec Full Year
2016 0.03 0.33 -0.23 0.78 0.91
Insider Sell: Insider Selling
2017 0.12 0.55 0.16 0.46 1.29
2018 0.17 0.07 0.34 0.10 0.68
Good Signs 2019 -0.05 -0.33 0.37 0.04 0.03
2020
Price: Close to 10-year low
Quarterly Dividends Per Share
PB Ratio: Close to 10-year
low Mar Jun Sep Dec Full Year
2016 0.00 0.00 0.00 0.00 0.00
PS Ratio: Close to 10-year 2017 0.00 0.00 0.00 0.00 0.00
low 2018 0.00 0.00 0.00 0.00 0.00
2019 0.00 0.00 0.00 0.00 0.00
DCF 2020
GuruFocus does not Growth Rate
calculate intrinsic value: DCF Annual Rates(per share) 10-Y 5-Y 12-M
(Earnings Based) for
Revenue Growth (%) 3.80 5.00 -0.60
companies with one star
predictability or not rated. But EBITDA Growth (%) 7.80 7.10 -12.00
you can go to each stock's Free Cash Flow Growth (%) 8.00 14.10 -18.70
DCF page to calculate
Book Value Growth (%) 12.70 28.30 -5.10
yourself.
EPS Growth (%) 0.00 -17.20 -91.30
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MYL 1/7
Per Share Data
Mar04 Mar05 Mar06 Mar07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4.98 4.58 5.37 7.36 16.88 16.59 16.57 13.97 16.17 17.51 19.40 18.96 21.28 22.19 22.14 22.27 22.29 Revenue per Share
1.95 1.27 1.43 2.90 2.41 3.08 3.38 3.42 3.95 4.00 4.71 4.60 4.03 6.04 5.71 5.21 5.22 EBITDA per Share
1.79 1.10 1.23 2.62 1.02 1.78 2.09 2.26 2.65 2.69 3.29 2.52 1.11 2.68 1.63 1.30 1.30 EBIT per Share
1.21 0.74 0.79 0.99 -1.05 0.30 0.68 1.22 1.52 1.58 2.34 1.70 0.92 1.30 0.68 0.03 0.03 Earnings per Share (diluted)
1.21 0.74 0.79 0.99 -1.05 0.30 0.68 1.22 1.52 1.58 2.34 1.70 0.92 1.30 0.68 0.03 0.03 eps without NRI
0.94 0.06 1.19 1.15 -0.90 0.29 1.43 0.82 1.13 1.68 0.89 1.91 0.14 2.06 2.43 -- 1.47 Owner Earnings per Share (TTM)
0.39 0.41 1.34 1.04 0.72 1.47 2.25 1.00 1.34 1.80 0.68 2.29 2.49 2.18 2.22 2.71 2.71 Free Cashflow per Share
0.10 0.12 0.24 0.24 -- -- -- -- -- -- -- -- -- -- -- -- -- Dividends per Share
6.01 6.75 3.36 7.53 8.87 10.21 8.26 8.18 8.45 7.92 8.68 19.90 20.77 25.39 23.59 23.01 23.00 Book Value per Share
5.15 5.93 2.47 3.12 -9.56 -8.44 -5.73 -6.23 -6.07 -10.54 -8.37 -5.78 -23.47 -23.17 -21.80 -18.12 -18.11 Tangible Book per Share
0.08 0.08 2.94 8.62 17.47 16.90 12.46 12.42 14.51 21.61 22.66 14.87 28.90 27.97 26.79 23.30 23.30 Total Debt per Share
22.73 17.72 23.40 21.14 9.89 18.43 21.13 21.46 27.45 43.40 56.37 54.07 38.15 42.31 27.40 -- 16.50 Month End Stock Price
Ratios
Mar04 Mar05 Mar06 Mar07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
21.55 11.61 14.01 17.84 -14.72 3.21 6.64 15.13 18.76 19.86 29.99 13.02 4.60 5.70 2.77 0.14 0.14 Return on Equity %
18.43 10.13 9.21 7.10 -2.47 2.19 3.09 4.64 5.45 4.58 5.97 4.45 1.68 1.97 1.03 0.05 0.05 Return on Assets %
84.05 39.37 35.20 56.76 17.90 23.08 27.98 38.20 37.71 32.74 29.63 26.86 15.13 36.81 21.85 19.48 17.10 Return on Capital %
36.61 19.29 19.14 18.87 56.40 10.64 10.13 10.34 10.30 9.67 11.36 9.22 26.13 4.14 3.82 0.31 0.31 Return on Invested Capital %
4.65 5.02 5.55 8.91 5.70 3.71 2.94 2.75 7.75 8.15 5.50 8.23 8.12 7.49 8.80 -- 7.39 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 9.90 6.07 6.25 6.26 5.60 4.55 4.03 4.30 4.00 3.55 3.81 4.00 3.88 Effective Interest Rate on Debt %
55.47 49.75 49.92 52.34 40.30 40.73 40.68 41.82 42.79 44.00 45.70 44.71 42.40 40.17 35.00 33.89 33.89 Gross Margin %
36.00 24.11 22.86 35.65 13.62 14.71 15.57 17.19 16.28 16.22 17.11 14.46 12.38 11.96 7.49 6.04 6.04 Operating Margin %
24.34 16.24 14.68 13.48 -3.53 4.57 6.33 8.76 9.43 9.03 12.04 8.99 4.33 5.84 3.08 0.15 0.15 Net Margin %
7.79 9.01 24.89 14.17 4.27 8.85 13.55 7.19 8.29 10.29 3.49 12.08 11.71 9.81 10.02 12.15 -- FCF Margin %
0.01 0.01 0.88 1.15 1.97 1.65 1.51 1.52 1.72 2.73 2.61 0.75 1.39 1.10 1.14 1.01 1.01 Debt to Equity
0.88 0.86 0.42 0.39 0.26 0.29 0.31 0.30 0.28 0.19 0.21 0.44 0.32 0.37 0.37 0.38 0.38 Total Equity to Total Asset
0.01 0.01 0.37 0.44 0.51 0.48 0.47 0.46 0.48 0.53 0.54 0.33 0.45 0.41 0.42 0.39 0.39 Total Debt to Total Asset
42.01 31.02 31.33 27.55 28.24 19.56 19.85 22.16 24.72 22.33 22.68 22.14 16.48 13.56 11.68 12.18 12.27 Gross Profit to Total Asset %
0.76 0.62 0.63 0.53 0.70 0.48 0.49 0.53 0.58 0.51 0.50 0.50 0.39 0.34 0.33 0.36 0.36 Asset Turnover
0.09 0.16 0.30 0.24 -- -- -- -- -- -- -- -- -- -- -- -- -- Dividend Payout Ratio
50.74 86.59 70.32 79.32 82.74 88.49 77.49 84.94 83.48 96.15 107 94.22 99.36 97.26 77.14 83.79 83.79 Days Sales Outstanding
30.06 45.27 44.56 76.16 69.70 62.67 63.75 71.97 73.03 101 78.86 50.24 53.75 50.00 55.16 50.98 50.98 Days Accounts Payable
167 176 164 168 88.95 132 133 135 137 150 144 126 126 128 126 126 130 Days Inventory
187 217 190 171 102 158 147 148 148 145 172 170 172 175 148 159 162 Cash Conversion Cycle
2.19 2.08 2.23 2.17 4.10 2.77 2.75 2.70 2.66 2.43 2.53 2.89 2.90 2.85 2.90 2.90 2.82 Inventory Turnover
0.45 0.50 0.50 0.48 0.60 0.59 0.59 0.58 0.57 0.56 0.54 0.55 0.58 0.60 0.65 0.66 0.66 COGS to Revenue
0.20 0.24 0.23 0.22 0.15 0.21 0.22 0.22 0.22 0.23 0.21 0.19 0.20 0.21 0.22 0.23 0.24 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MYL 2/7
Income Statement
Mar04 Mar05 Mar06 Mar07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,375 1,253 1,257 1,612 5,138 5,093 5,451 6,130 6,796 6,909 7,720 9,429 11,077 11,908 11,434 11,501 11,501 Revenue
612 630 630 768 3,067 3,018 3,233 3,566 3,888 3,869 4,192 5,213 6,380 7,125 7,432 7,603 7,603 Cost of Goods Sold
762 624 628 844 2,070 2,074 2,217 2,563 2,908 3,040 3,528 4,216 4,697 4,783 4,002 3,898 3,898 Gross Profit
55.47 49.75 49.92 52.34 40.30 40.73 40.68 41.82 42.79 44.00 45.70 44.71 42.40 40.17 35.00 33.89 33.89 Gross Margin %
202 259 225 216 1,053 1,050 1,087 1,215 1,392 1,409 1,626 2,181 2,499 2,576 2,441 2,564 2,564 Selling, General, & Admin. Expense
101 88.25 102 104 317 275 282 295 401 508 582 672 827 783 705 640 640 Research & Development
-34.76 -25.99 12.42 -50.12 -- 0.00 -- -0.00 8.30 3.10 -0.00 0.00 -0.00 0.00 -0.00 -0.00 0.00 Other Operating Expense
495 302 287 575 700 749 849 1,054 1,106 1,121 1,321 1,364 1,372 1,424 856 694 694 Operating Income
36.00 24.11 22.86 35.65 13.62 14.71 15.57 17.19 16.28 16.22 17.11 14.46 12.38 11.96 7.49 6.04 6.04 Operating Margin %
-- -- -- -- -- -- -- -- -- -- -- 3.00 12.30 6.20 -- -- -- Interest Income
-- -- -- -- -357 -318 -331 -336 -309 -313 -333 -339 -455 -535 -542 -517 -517 Interest Expense
-- -- -- -- -357 -318 -331 -336 -309 -313 -333 -376 -443 -535 -542 -517 -517 Net Interest Income
17.81 10.08 -12.78 -149 -390 -204 -161 -63.43 6.60 -60.30 -12.80 -72.30 -808 13.50 -15.40 -22.40 -22.40 Other Income (Expense)
-- -- -- -0.21 4.03 -15.18 -0.43 -1.99 -2.10 -2.80 -3.70 -0.10 -- -- -- -- -- Other Income (Minority Interest)
513 312 275 426 -47.82 227 356 655 804 747 975 915 122 903 298 154 154 Pre-Tax Income
-178 -109 -90.06 -208 -137 20.77 -10.40 -116 -161 -121 -41.40 -67.70 358 -207 54.10 -138 -138 Tax Provision
34.72 34.80 32.80 48.89 -287 -9.15 2.92 17.69 20.04 16.16 4.25 7.40 -294 22.92 -18.13 89.12 89.12 Tax Rate %
335 204 185 217 -185 248 346 539 643 627 933 848 480 696 353 16.80 16.80 Net Income (Continuing Operations)
335 204 185 217 -181 233 345 537 641 624 929 848 480 696 353 16.80 16.80 Net Income
24.34 16.24 14.68 13.48 -3.53 4.57 6.33 8.76 9.43 9.03 12.04 8.99 4.33 5.84 3.08 0.15 0.15 Net Margin %
-- -- -- -- 139 139 122 -- -- -- -- -- -- -- -- -- -- Preferred dividends
1.24 0.76 0.80 1.01 -1.05 0.31 0.69 1.25 1.54 1.63 2.49 1.80 0.94 1.30 0.69 0.03 0.03 EPS (Basic)
1.21 0.74 0.79 0.99 -1.05 0.30 0.68 1.22 1.52 1.58 2.34 1.70 0.92 1.30 0.68 0.03 0.03 EPS (Diluted)
276 274 234 219 304 307 329 439 420 395 398 497 521 537 517 517 517 Shares Outstanding (Diluted
Average)
44.32 45.10 46.83 61.51 425 401 423 511 547 516 567 1,032 1,523 1,806 2,110 2,019 2,019 Depreciation, Depletion and
Amortization
539 347 334 636 735 947 1,110 1,501 1,660 1,577 1,874 2,287 2,100 3,243 2,951 2,691 2,691 EBITDA
Balance Sheet
Mar04 Mar05 Mar06 Mar07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
111 138 150 1,252 557 381 662 375 350 291 226 1,236 999 292 388 476 476 Cash And Cash Equivalents
585 670 368 174 42.26 27.56 29.09 -- -- -- -- -- -- 200 91.30 109 109 Marketable Securities
697 808 518 1,427 599 408 691 375 350 291 226 1,236 999 492 479 585 585 Cash, Cash Equivalents, Marketable
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MYL 3/7
Securities
191 297 242 350 1,165 1,235 1,157 1,426 1,554 1,820 2,269 2,434 3,015 3,173 2,417 2,640 2,640 Accounts Receivable
149 120 98.26 148 273 287 337 370 456 483 550 592 783 896 956 887 887 Inventories, Raw Materials &
Components
34.51 39.59 36.07 95.66 157 198 230 253 268 310 298 387 436 385 370 417 417 Inventories, Work In Process
137 127 145 185 635 629 673 773 801 864 804 972 1,237 1,263 1,255 1,367 1,367 Inventories, Finished Goods
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
321 286 279 429 1,066 1,114 1,240 1,397 1,525 1,657 1,651 1,951 2,456 2,543 2,580 2,671 2,671 Total Inventories
119 137 153 206 345 528 471 371 473 703 2,296 597 756 567 427 443 443 Other Current Assets
1,328 1,528 1,192 2,412 3,175 3,285 3,559 3,569 3,903 4,471 6,441 6,473 7,523 7,213 6,368 6,757 6,757 Total Current Assets
-- -- -- -- -- -- -- -- -- -- -- 476 396 226 139 92.20 92.20 Investments And Advances
9.70 9.70 10.64 29.85 56.95 69.61 73.27 72.95 73.86 75.10 88.30 125 145 143 131 125 125 Land And Improvements
133 161 175 298 577 625 671 676 665 747 826 951 1,107 1,192 1,182 1,197 1,197 Buildings And Improvements
241 269 287 472 1,013 1,145 1,265 1,358 1,437 1,698 1,739 1,928 2,228 2,415 2,421 2,524 2,524 Machinery, Furniture, Equipment
54.18 85.32 144 141 111 118 165 264 308 208 302 291 329 253 240 277 277 Construction In Progress
437 525 618 941 1,758 1,959 2,174 2,371 2,484 2,728 2,956 3,294 3,808 4,002 3,975 4,378 4,378 Gross Property, Plant and Equipment
-164 -189 -211 -254 -694 -836 -964 -1,073 -1,087 -1,063 -1,170 -1,310 -1,486 -1,663 -1,804 -1,973 -1,973 Accumulated Depreciation
273 337 407 687 1,064 1,123 1,209 1,298 1,397 1,666 1,786 1,984 2,322 2,339 2,170 2,404 2,404 Property, Plant and Equipment
237 223 208 966 5,615 5,716 6,100 6,149 5,740 6,858 6,396 12,602 23,680 25,452 23,412 21,241 21,241 Intangible Assets
-- 103 103 613 3,162 3,331 3,599 3,518 3,516 4,341 4,049 5,380 9,232 10,206 9,748 9,591 9,591 Goodwill
47.22 47.43 63.58 190 556 678 668 583 892 2,300 1,197 734 805 576 646 761 761 Other Long Term Assets
1,885 2,136 1,871 4,254 10,410 10,802 11,537 11,598 11,932 15,295 15,821 22,268 34,726 35,806 32,735 31,256 31,256 Total Assets
50.41 78.11 76.86 160 586 518 565 703 778 1,073 906 718 940 976 1,123 1,062 1,062 Accounts Payable
-- -- -- -- 92.16 69.12 15.11 42.88 33.73 49.70 161 92.40 97.70 113 122 213 213 Total Tax Payable
99.23 151 76.86 160 986 587 580 1,423 1,476 1,907 2,076 2,399 3,426 3,071 2,955 3,202 3,202 Accounts Payable & Accrued
Expense
1.59 1.59 4.34 233 156 194 170 820 397 443 2,804 1,000 270 1,796 657 644 644 Current Portion of Long-Term Debt
-- -- 17.23 10.47 -- -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Revenue
-- -- -- -- 1.94 1.99 2.46 1.22 1.28 1.50 -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- 17.23 10.47 1.94 1.99 2.46 1.22 1.28 1.50 -- -- -- -- -- -- -- DeferredTaxAndRevenue
82.72 92.78 167 297 401 935 1,058 319 319 612 425 723 1,345 1,518 975 1,723 1,723 Other Current Liabilities
184 246 265 701 1,545 1,718 1,810 2,563 2,194 2,964 5,304 4,122 5,041 6,385 4,588 5,569 5,569 Total Current Liabilities
19.13 19.33 685 1,655 5,165 4,985 5,263 4,479 5,337 7,587 5,700 6,296 15,203 12,865 13,161 11,214 11,214 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 176 176 Capital Lease Obligation
19.13 19.33 685 1,655 5,165 4,985 5,263 4,479 5,337 7,587 5,700 6,296 15,203 12,865 13,161 11,390 11,390 Long-Term Debt & Capital Lease
Obligation
0.01 0.01 0.88 1.15 1.97 1.65 1.51 1.52 1.72 2.73 2.61 0.75 1.39 1.10 1.14 1.01 1.01 Debt to Equity
-- -- -- -- -- -- -- -- -- -- -- 118 397 408 398 409 409 PensionAndRetirementBenefit
22.60 24.91 20.59 85.90 563 467 478 309 274 515 204 718 2,006 2,012 1,722 1,628 1,628 NonCurrent Deferred Liabilities
-- -- -- 43.21 29.11 14.05 13.52 13.01 15.11 18.10 20.10 1.40 1.40 -- -- -- -- Minority Interest
0.00 0.00 112 120 404 486 370 742 771 1,269 1,337 1,248 962 828 699 376 376 Other Long-Term Liabilities
225 290 1,083 2,562 7,677 7,657 7,921 8,093 8,576 12,335 12,545 12,502 23,609 22,499 20,568 19,372 19,372 Total Liabilities
152 152 155 170 198 198 263 265 270 272 273 5.50 6.00 6.00 6.00 6.10 6.10 Common Stock
-- -- -- -- 1.07 1.07 -- -- -- -- -- -- -- -- -- -- -- Preferred Stock
1,637 1,809 1,939 2,103 594 660 884 1,421 2,061 2,685 3,615 4,462 4,942 5,645 6,011 6,031 6,031 Retained Earnings
2.50 0.87 2.45 1.54 -381 11.81 172 -87.84 -86.50 -240 -987 -1,764 -2,264 -361 -1,441 -1,797 -1,797 Accumulated other comprehensive
income (loss)
338 354 419 963 3,874 3,835 3,850 3,795 3,987 4,104 4,213 7,129 8,499 8,586 8,591 8,644 8,644 Additional Paid-In Capital
-470 -470 -1,727 -1,588 -1,583 -1,575 -1,566 -1,901 -2,891 -3,879 -3,858 -67.50 -67.50 -568 -1,000 -1,000 -1,000 Treasury Stock
1,660 1,846 788 1,649 2,704 3,131 3,602 3,492 3,341 2,942 3,256 9,764 11,116 13,308 12,167 11,884 11,884 Total Equity
0.88 0.86 0.42 0.39 0.26 0.29 0.31 0.30 0.28 0.19 0.21 0.44 0.32 0.37 0.37 0.38 0.38 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MYL 4/7
Cashflow Statement
Mar04 Mar05 Mar06 Mar07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
335 204 185 217 -181 248 346 539 643 627 933 848 480 696 353 16.80 16.80 Net Income
335 204 185 217 -181 248 346 539 643 627 933 848 480 696 353 16.80 16.80 Net Income From Continuing
Operations
44.32 45.10 46.83 61.51 425 401 423 511 547 516 567 1,032 1,523 1,806 2,110 2,019 2,019 Depreciation, Depletion and
Amortization
18.62 -193 19.08 -60.77 -172 -176 21.87 -319 -355 -554 -231 65.80 -132 -162 340 -20.00 -20.00 Change In Receivables
-83.02 34.53 6.01 -28.99 -83.33 20.11 -94.73 -221 -172 -157 -148 -320 -279 -130 -548 -513 -513 Change In Inventory
-25.38 8.08 20.53 -29.31 315 161 23.02 134 81.40 137 -0.30 132 87.70 14.40 220 -96.30 -96.30 Change In Payables And Accrued
Expense
-114 -144 114 -35.26 -204 -264 -99.83 -474 -407 -143 -474 -331 -810 -682 -189 -508 -508 Change In Working Capital
32.28 -36.90 -23.64 -50.48 -194 -155 11.29 -57.41 -109 -87.10 -315 -116 -610 -111 -264 -193 -193 Change In DeferredTax
-- -- -- -- 30.64 31.17 31.39 42.58 42.60 47.00 66.00 92.80 88.90 74.70 -3.30 56.80 56.80 Stock Based Compensation
-71.69 136 94.38 197 50.09 344 220 160 233 147 238 383 1,339 279 333 411 411 Cash Flow from Others
226 204 417 390 384 605 931 720 949 1,107 1,015 2,009 2,047 2,065 2,342 1,804 1,804 Cash Flow from Operations
-118 -90.75 -104 -162 -165 -154 -193 -280 -386 -396 -746 -869 -751 -896 -1,196 -406 -406 Purchase Of Property, Plant,
Equipment
12.00 -- -- -- -- -- 4.95 -- 16.30 25.30 8.90 2.30 -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -237 -563 -80.51 -- -1,262 -50.00 -693 -6,611 -167 -65.90 -149 92.50 Purchase Of Business
-- -- -- -- -- 49.22 -- -- -- -- -- -- -- -- -- -- Sale Of Business
--
-794 -781 -687 -656 -18.03 -- -7.52 -10.02 -9.90 -19.30 -19.90 -62.10 -30.20 -96.50 -63.40 -25.80 -25.80 Purchase Of Investment
641 693 991 849 65.71 15.72 4.57 6.89 8.10 10.60 20.20 33.10 21.50 96.60 85.20 27.10 27.10 Sale Of Investment
-- -- -- -- -- -- -- -- -80.40 -60.90 -420 -507 -360 -620 -944 -193 -193 Net Intangibles Purchase And Sale
9.15 3.37 -5.71 -761 -35.40 -8.88 28.15 31.45 87.40 -167 406 526 52.20 707 973 221 221 Cash From Other Investing Activities
-250 -175 195 -731 -153 -335 -725 -332 -364 -1,869 -800 -1,570 -7,678 -976 -1,210 -525 -525 Cash Flow from Investing
26.67 10.07 56.89 753 -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-133 -- -1,258 -- -- -- -- -350 -1,000 -1,000 -- -67.50 -- -500 -432 -- -- Repurchase of Stock
9.77 19.62 688 740 -78.12 -335 214 -202 227 1,636 -169 697 5,497 -1,360 -632 -1,103 -1,103 Net Issuance of Debt
-26.02 -32.26 -49.77 -50.75 -137 -139 -139 -- -- -- -- -- -- -- -- -- -- Cash Flow for Dividends
-- -- -36.45 0.39 48.68 19.62 25.57 -93.19 162 57.10 -98.80 -24.40 -152 -33.40 -27.20 -66.10 -66.10 Other Financing
-123 -2.57 -599 1,443 -167 -454 100 -645 -612 693 -267 605 5,345 -1,893 -1,091 -1,169 -1,169 Cash Flow from Financing
-147 26.25 12.39 1,102 72.95 -177 282 -287 -25.10 -58.70 -65.80 1,011 -296 -777 19.40 102 102 Net Change in Cash
-118 -90.75 -104 -162 -165 -154 -193 -280 -386 -396 -746 -869 -751 -896 -1,196 -406 -406 Capital Expenditure
107 113 313 228 219 451 739 441 563 711 269 1,139 1,297 1,169 1,146 1,398 1,398 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MYL 5/7
Valuation Ratios
Mar04 Mar05 Mar06 Mar07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
18.68 23.63 29.25 12.81 -- 61.43 32.02 17.59 17.94 27.47 24.09 32.57 41.92 32.80 40.29 -- 550 PE Ratio(TTM)
24.31 306 19.70 18.33 -- 63.77 14.74 26.33 24.29 25.82 63.41 28.25 281 20.53 11.30 -- 11.23 Price to Owner Earnings
(TTM)
3.78 2.63 6.96 2.81 1.12 1.80 2.56 2.62 3.25 5.48 6.50 2.72 1.84 1.67 1.16 -- 0.72 Price to Book
4.42 2.99 9.46 6.78 -- -- -- -- -- -- -- -- -- -- -- -- -- Price to Tangible Book
58.89 43.33 17.37 19.92 15.01 13.44 10.55 21.02 20.08 24.08 83.26 23.63 15.35 19.43 12.35 -- 8.31 Price-to-Free-Cash-Flow
Ratio
27.86 23.91 13.03 12.06 8.47 10.02 8.36 12.91 11.97 15.47 22.09 13.53 9.73 11.00 6.04 -- 4.86 Price-to-Operating-Cash-
Flow Ratio
4.57 3.87 4.32 3.69 0.66 1.21 1.37 1.54 1.69 2.48 2.91 2.86 1.79 1.91 1.24 -- 0.75 PS Ratio
0.70 0.90 2.23 6.89 -- 4.11 2.32 1.39 0.76 2.59 2.39 3.42 9.21 6.03 5.03 -- 27.35 PEG Ratio
4.07 3.23 4.15 3.95 1.51 2.05 2.56 2.30 2.39 3.46 3.81 3.46 3.15 3.05 2.40 -- 1.86 EV-to-Revenue
10.38 11.66 15.61 8.89 10.57 11.02 12.58 9.39 9.79 15.15 15.71 14.25 16.62 11.21 9.31 -- 9.94 EV-to-EBITDA
11.30 13.40 18.15 10.29 25.11 19.13 20.32 14.23 14.60 22.52 22.52 25.97 60.53 25.28 32.68 -- 31.73 EV-to-EBIT
8.85 7.46 5.51 9.72 3.98 5.23 4.92 7.03 6.85 4.44 4.44 3.85 1.65 3.96 3.06 -- 3.16 Return on Capital %
22.63 23.26 16.69 5.75 6.16 19.37 18.96 17.52 24.66 14.03 12.38 12.13 9.07 9.76 15.35 -- 18.22 Forward Rate of Return
37.16 27.37 33.50 24.64 42.91 91.02 83.01 76.94 86.51 132 125 101 84.52 39.25 20.96 -- 12.73 Shiller PE Ratio
0.46 0.68 1.03 1.14 -- -- -- -- -- -- -- -- -- -- -- -- -- Dividend Yield %
Valuation and Quality
Mar04 Mar05 Mar06 Mar07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6,281 4,849 5,480 4,632 3,014 5,649 9,215 9,157 10,848 16,128 21,151 26,528 20,423 22,179 14,133 -- 8,517 Market Cap
5,604 4,061 5,652 5,137 7,766 10,434 13,971 14,093 16,248 23,884 29,449 32,589 34,898 36,349 27,472 -- 21,309 Enterprise Value
22.73 17.72 23.40 21.14 9.89 18.43 21.13 21.46 27.45 43.40 56.37 54.07 38.15 42.31 27.40 -- 16.50 Month End Stock Price
1.71 1.89 -2.41 -5.38 -23.32 -23.70 -16.61 -18.12 -20.85 -32.46 -32.88 -22.97 -42.24 -41.98 -38.95 -36.37 -36.37 Net Cash (per share)
3.99 4.53 0.47 -0.88 -14.88 -14.31 -10.03 -10.63 -11.86 -21.21 -16.32 -12.29 -30.05 -29.16 -27.53 -24.42 -24.42 Net Current Asset Value
(per share)
2.81 3.23 -1.04 -3.20 -18.71 -18.86 -13.20 -13.98 -15.97 -26.56 -26.15 -17.26 -35.72 -35.02 -32.93 -29.95 -29.95 Net-Net Working Capital (per
share)
13.26 12.90 13.75 16.85 15.94 19.05 20.53 19.22 20.04 18.44 21.94 29.87 32.10 37.96 39.46 -- -- Projected FCF (per share)
24.21 21.16 24.16 24.80 57.48 55.95 53.98 45.22 30.03 31.39 34.75 33.85 38.09 37.77 38.78 -- 38.67 Median PS (per share)
30.42 18.75 10.50 10.65 -6.90 4.49 9.10 15.43 36.35 16.76 23.56 15.80 -- 7.02 5.45 -- 0.56 Peter Lynch Fair Value (per
share)
11.84 9.94 6.63 8.34 -- -- -- -- -- -- -- -- -- -- -- -- -- Graham Number (per share)
10.11 10.72 10.58 10.87 -4.01 -4.25 -15.53 -12.90 -13.84 -16.14 -13.58 8.71 -5.22 -4.05 5.06 -- 5.78 Earnings Power Value
(EPV)
20.27 12.99 6.00 3.00 1.09 1.34 1.66 1.76 2.05 1.83 2.18 2.29 1.18 1.30 1.17 -- 1.06 Altman Z-Score
8.00 5.00 5.00 6.00 5.00 6.00 7.00 7.00 8.00 5.00 6.00 6.00 3.00 5.00 5.00 -- 6.00 Piotroski F-Score
-2.30 -2.09 -4.16 -1.91 -2.04 -2.48 -2.70 -2.35 -2.57 -2.44 -2.40 -2.44 -2.38 -2.55 -2.92 -- -2.72 Beneish M-Score
0.56 0.56 0.45 1.15 1.75 0.76 0.77 0.73 0.75 0.90 0.76 1.00 1.15 0.79 0.71 0.71 0.75 Scaled Net Operating
Assets
19.06 8.18 -22.83 13.11 -3.97 -0.35 1.21 1.28 0.47 9.06 4.52 1.84 17.60 -1.10 -2.38 -4.04 -4.04 Sloan Ratio (%)
7.23 6.23 4.49 3.44 2.06 1.91 1.97 1.39 1.78 1.51 1.21 1.57 1.49 1.13 1.39 1.21 1.21 Current Ratio
5.49 5.06 3.44 2.83 1.37 1.26 1.28 0.85 1.08 0.95 0.90 1.10 1.01 0.73 0.83 0.73 0.73 Quick Ratio
28.36 24.59 24.92 23.55 15.40 19.04 23.25 25.23 28.30 44.50 58.62 76.06 54.09 45.28 47.64 -- 29.30 Highest Stock Price
17.45 14.69 15.50 19.06 5.77 9.86 16.86 16.16 20.64 27.45 42.26 39.16 34.14 29.63 26.21 -- 16.46 Lowest Stock Price
2.13 0.98 14.40 6.44 -39.06 -0.58 -42.29 2.16 7.38 5.97 -0.97 -30.75 -9.11 2.08 1.60 -0.14 -0.16 Shares Buyback Ratio (%)
10.68 -7.92 17.18 37.03 129 -1.69 -0.16 -15.68 15.77 8.29 10.75 -2.26 12.26 4.26 -0.23 0.58 0.71 YoY Rev. per Sh. Growth
(%)
26.04 -38.84 6.76 25.32 -206 129 127 79.41 24.59 3.95 48.10 -27.35 -45.88 41.30 -47.69 -95.59 -95.59 YoY EPS Growth (%)
21.18 -34.96 12.45 103 -16.88 27.81 9.44 1.36 15.43 1.19 17.84 -2.36 -12.27 49.80 -5.46 -8.80 -8.70 YoY EBITDA Growth (%)
26.51 26.32 13.13 1.86 -0.83 14.95 13.79 12.65 23.76 10.61 10.07 9.52 4.55 5.44 8.01 -- 7.10 EBITDA 5-Y Growth (%)
269 269 229 215 304 305 324 431 415 383 374 472 513 535 515 516 516 Shares Outstanding (Basic
Average)
276 274 234 219 305 306 436 427 395 372 375 491 535 524 516 517 516 Shares Outstanding (EOP)
-0.01 0.04 0.26 0.93 0.97 0.59 0.73 0.68 1.26 1.13 0.69 1.27 1.46 1.48 1.58 2.05 2.06 Beta
06/14/04 05/20/05 05/16/06 05/30/07 02/23/09 02/26/10 02/24/11 02/21/12 02/28/13 02/27/14 03/02/15 02/16/16 03/01/17 03/01/18 02/27/19 02/28/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MYL 6/7
05/20/05 05/16/06 05/30/07 05/30/07 02/23/09 02/24/11 02/28/13 02/27/14 03/02/15 02/16/16 03/01/17 03/01/18 02/27/19 02/28/20 02/28/20 02/28/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/MYL 7/7
SVB Financial Group (NAS:SIVB) 03/03/2020 1:59PM EST GuruFocus
Price: $ 197.59 -19.17(-8.84%) Market Cap: $ 10.2 B Enterprise Value: $-8,159 Stock PDF
Financial Strength : 4/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 9.08
Cash to Debt 11.61 Net-margin (%) 34.79
Forward P/E N/A
Equity to Asset 0.09 ROE (%) 20.03
F-Score: PE(NRI) 9.08
ROA (%) 1.78
9999 P/B 1.67
M-Score: Revenue Growth (3Y)(%) 20.10
-2.11 P/S 3.35
EPS Growth (3Y)(%) 39.90
PFCF 11.74
POCF 11.11
Shiller P/E 23.96
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year SVB Financial Group founded in 1982 and based in Santa Clara, California, provides loans and ancillary financial
services to startups, private equity, and venture capital firms. The bank has three main commercial sectors: software
2016 360 390 424 401 1,575 and Internet; hardware and private equity; and venture capital. In addition to providing loans to venture-capital-
2017 419 462 523 538 1,941 backed startups, the company invests in private equity and venture capital funds of funds. The bank operates
Good Signs 2018 569 648 694 690 2,601
throughout the United States and maintains offices in the United Kingdom, Israel, China, and India.... (Read More)
Competitors: TSE:8309 , BUD:OTP, XKRX:105560 , XKRX:055550 , NAS:HBAN, STC:VCB, PHS:BDO,
PB Ratio: Close to 3-year low 2019 778 844 799 847 3,268 ADX:ADCB, XPAR:KN, TSE:8421, TPE:2886, TPE:2891, OCSE:DANSKE, BOG:BCOLOMBIA, XKLS:1023,
2020 SAU:1090, WBO:EBS, TPE:2881, TPE:2884, NSE:INDUSINDBK
PS Ratio: Close to 3-year low
Quarterly Earnings per Share Insider Trades
DCF Mar Jun Sep Dec Full Year
2016 1.52 1.78 2.12 1.89 7.31
GuruFocus does not 2017 1.91 2.32 2.79 2.19 9.21
calculate intrinsic value: DCF 2018 3.63 4.42 5.10 4.96 18.11
(Earnings Based) for 2019 5.44 6.08 5.15 5.06 21.73
companies with one star 2020
predictability or not rated. But
you can go to each stock's Quarterly Dividends Per Share
DCF page to calculate Mar Jun Sep Dec Full Year
yourself. 2016 0.00 0.00 0.00 0.00 0.00
2017 0.00 0.00 0.00 0.00 0.00
Reverse DCF 2018 0.00 0.00 0.00 0.00 0.00
2019 0.00 0.00 0.00 0.00 0.00
GuruFocus does not
2020
calculate reverse DCF growth
rate for companies with one Growth Rate
star predictability or not rated. Annual Rates(per share) 10-Y 5-Y 12-M
But you can go to each
stock's DCF page to calculate Revenue Growth (%) 12.00 10.00 32.90
yourself. EBITDA Growth (%) 0.00 0.00 0.00
Free Cash Flow Growth (%) 18.40 39.40 47.70
Book Value Growth (%) 14.90 16.30 23.00
EPS Growth (%) 26.70 27.60 96.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SIVB 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
8.98 10.81 13.14 16.40 15.32 14.04 15.67 20.58 20.90 29.39 28.29 27.93 30.08 36.41 48.37 63.43 62.48 Revenue per Share
1.70 2.40 2.38 3.37 2.16 0.66 2.24 3.94 3.91 4.67 5.31 6.62 7.31 9.20 18.11 21.73 21.73 Earnings per Share (diluted)
1.70 2.40 2.37 3.37 2.16 0.66 2.24 3.94 3.91 4.67 5.31 6.62 7.31 9.20 18.11 21.73 21.73 eps without NRI
2.13 2.29 2.38 4.15 1.51 -0.01 3.93 6.12 3.81 4.61 4.89 6.96 7.81 10.78 16.97 -- 17.04 Owner Earnings per Share (TTM)
2.29 2.47 2.85 4.40 3.48 2.08 3.20 3.11 3.62 3.09 4.29 5.50 7.99 11.18 16.51 -- -- Free Cashflow per Share
15.07 16.22 18.27 20.71 23.39 27.30 30.15 36.07 41.02 42.93 55.24 61.97 69.71 79.11 97.29 119 119 Book Value per Share
14.08 15.20 17.65 20.59 23.26 27.30 30.15 36.07 41.02 42.93 55.24 61.97 69.71 79.11 97.29 115 115 Tangible Book per Share
5.73 5.58 16.06 29.55 32.11 21.66 29.49 13.87 10.39 10.05 9.02 27.84 25.04 26.48 19.18 11.31 11.31 Total Debt per Share
44.82 46.84 46.62 50.40 26.23 41.66 53.05 47.69 55.97 105 116 119 172 234 190 -- 198 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.92 16.65 14.92 18.95 8.82 2.14 7.90 12.09 10.30 11.30 11.04 11.44 11.19 12.54 20.95 19.62 20.03 Return on Equity %
1.33 1.73 1.54 1.94 0.89 0.42 0.63 0.92 0.82 0.87 0.80 0.82 0.86 1.02 1.80 1.78 1.78 Return on Assets %
13.48 13.40 10.25 6.23 5.07 8.42 8.92 10.19 9.97 14.22 10.00 8.89 10.57 12.79 16.04 -- 15.08 Weighted Average Cost Of Capital (WACC) %
5.43 8.54 9.40 8.23 7.01 5.03 4.07 4.23 5.78 6.99 7.68 4.26 3.12 3.31 6.31 26.72 24.55 Effective Interest Rate on Debt %
18.94 22.20 18.11 20.53 14.26 10.00 14.26 19.14 18.72 15.89 18.78 23.72 24.30 25.27 37.44 34.26 34.79 Net Margin %
25.48 22.87 21.66 26.84 22.75 14.79 20.40 15.09 17.30 10.50 15.15 19.68 26.57 30.71 34.13 -- -- FCF Margin %
0.38 0.34 0.88 1.43 1.07 0.79 0.98 0.39 0.25 0.23 0.16 0.45 0.36 0.34 0.20 0.09 0.09 Debt to Equity
0.11 0.10 0.10 0.10 0.10 0.09 0.07 0.08 0.08 0.07 0.07 0.07 0.08 0.08 0.09 0.09 0.09 Total Equity to Total Asset
0.04 0.04 0.09 0.14 0.11 0.07 0.07 0.03 0.02 0.02 0.01 0.03 0.03 0.03 0.02 0.01 0.01 Total Debt to Total Asset
7.01 7.80 8.49 9.43 6.24 4.20 4.38 4.79 4.38 5.49 4.27 3.45 3.52 4.05 4.81 5.19 5.10 Gross Profit to Total Asset %
0.07 0.08 0.09 0.09 0.06 0.04 0.04 0.05 0.04 0.06 0.04 0.04 0.04 0.04 0.05 0.05 0.05 Asset Turnover
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SIVB 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
337 417 494 602 521 480 666 898 935 1,350 1,405 1,450 1,575 1,941 2,601 3,318 3,268 Revenue
337 417 494 602 521 480 666 898 935 1,350 1,405 1,450 1,575 1,941 2,601 3,318 3,268 Gross Profit
154 164 189 229 203 229 294 362 384 431 490 561 609 710 837 1,077 1,099 Selling, General, & Admin. Expense
183 253 305 373 318 251 372 536 551 919 915 889 966 1,230 1,764 2,241 2,169 Other Operating Expense
241 316 388 443 439 431 462 565 649 730 892 1,047 1,193 1,465 1,970 2,309 2,309 Interest Income
-11.39 -17.17 -35.18 -62.45 -70.90 -49.08 -43.60 -39.11 -30.85 -32.28 -35.32 -40.34 -42.87 -44.77 -75.92 -213 -213 Interest Expense
229 299 352 381 369 382 418 526 618 697 857 1,006 1,151 1,420 1,894 2,097 2,097 Net Interest Income
103 153 155 210 107 45.85 198 402 363 692 662 604 641 875 1,363 1,610 1,610 Other Income (Expense)
-3.09 -3.40 -6.31 -28.60 19.14 37.37 -41.87 -111 -74.71 -330 -215 -30.92 -7.58 -28.67 -37.51 -47.86 -47.86 Other Income (Minority Interest)
103 153 155 210 107 45.85 198 402 363 692 662 604 641 875 1,363 1,610 1,610 Pre-Tax Income
-38.75 -60.76 -65.78 -86.78 -52.21 -35.21 -61.40 -119 -113 -147 -184 -229 -250 -355 -352 -426 -426 Tax Provision
37.76 39.63 42.45 41.24 48.63 76.79 30.98 29.63 31.20 21.23 27.71 37.90 39.08 40.64 25.79 26.43 26.43 Tax Rate %
63.87 92.54 89.19 124 55.15 10.64 137 283 250 545 479 375 390 519 1,011 1,185 1,185 Net Income (Continuing Operations)
63.87 92.54 89.39 124 74.29 48.01 94.95 172 175 215 264 344 383 491 974 1,137 1,137 Net Income
18.94 22.20 18.11 20.53 14.26 10.00 14.26 19.14 18.72 15.89 18.78 23.72 24.30 25.27 37.44 34.26 34.79 Net Margin %
-- -- -- -- 0.71 25.34 -- -- -- -- -- -- -- -- -- -- -- Preferred dividends
1.81 2.64 2.58 3.64 2.27 0.67 2.27 4.00 3.96 4.73 5.39 6.70 7.37 9.33 18.35 21.90 21.90 EPS (Basic)
1.70 2.40 2.38 3.37 2.16 0.66 2.24 3.94 3.91 4.67 5.31 6.62 7.31 9.20 18.11 21.73 21.73 EPS (Diluted)
37.57 38.56 37.56 36.74 34.02 34.18 42.48 43.64 44.76 45.94 49.66 51.92 52.35 53.31 53.77 52.31 51.96 Shares Outstanding (Diluted
Average)
6.69 1.67 23.87 19.45 22.92 24.93 23.22 27.49 28.12 36.26 39.35 40.01 46.82 56.12 57.91 -- 74.93 Depreciation, Depletion and
Amortization
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SIVB 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
284 286 393 325 1,958 3,455 3,003 939 876 1,366 1,700 1,378 2,482 2,675 3,448 6,782 6,782 Cash And Cash Equivalents
-- -- -- -- -- -- 12.99 10,536 11,343 11,987 13,541 16,381 12,620 11,121 7,790 14,015 14,015 Marketable Securities
284 286 393 325 1,958 3,455 3,016 11,475 12,219 13,353 15,241 17,759 15,102 13,796 11,238 20,797 20,797 Cash, Cash Equivalents, Marketable
Securities
122 175 258 259 362 329 58.14 107 79.82 83.55 114 156 174 198 254 1,745 1,745 Accounts Receivable
406 461 652 584 2,320 3,784 3,074 11,583 12,299 13,436 15,355 17,915 15,276 13,994 11,492 22,542 22,542 Total Current Assets
2,075 2,037 1,692 1,603 1,786 4,492 8,652 11,540 12,527 13,582 22,690 25,847 21,670 24,435 24,219 29,072 29,072 Investments And Advances
-- -- -- 9.29 9.15 93.15 113 142 168 193 226 241 278 305 330 -- -- Machinery, Furniture, Equipment
14.64 25.10 37.31 105 105 120 144 175 205 234 275 301 349 395 428 359 359 Gross Property, Plant and Equipment
-- -- -- -66.52 -74.02 -87.82 -99.31 -119 -138 -166 -195 -199 -228 -266 -299 -- -- Accumulated Depreciation
14.64 25.10 37.31 38.63 30.59 31.74 44.55 56.47 66.55 67.49 79.85 103 121 129 129 359 359 Property, Plant and Equipment
35.64 35.64 21.30 4.09 4.09 -- -- -- -- -- -- -- -- -- -- 187 187 Intangible Assets
-- -- -- 4.09 4.09 -- -- -- -- -- -- -- -- -- -- 138 138 Goodwill
2,614 2,982 3,679 4,463 5,877 4,534 5,757 -3,211 -2,126 -669 1,213 823 7,617 12,657 21,088 18,845 18,845 Other Long Term Assets
5,146 5,542 6,081 6,692 10,018 12,841 17,528 19,969 22,766 26,417 39,338 44,687 44,684 51,214 56,928 71,005 71,005 Total Assets
-- -- -- -- -- -- 79.07 -- -- -- -- -- -- -- -- -- -- Accounts Payable & Accrued
Expense
9.82 0.01 200 90.00 62.12 38.76 37.25 -- 6.11 5.08 7.78 640 513 704 312 17.43 17.43 Current Portion of Long-Term Debt
9.82 0.01 200 90.00 62.12 38.76 116 -- 6.11 5.08 7.78 640 513 704 312 17.43 17.43 Total Current Liabilities
196 196 352 875 995 857 1,209 604 458 455 451 797 796 695 696 348 348 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 219 219 Capital Lease Obligation
196 196 352 875 995 857 1,209 604 458 455 451 797 796 695 696 567 567 Long-Term Debt & Capital Lease
Obligation
0.38 0.34 0.88 1.43 1.07 0.79 0.98 0.39 0.25 0.23 0.16 0.45 0.36 0.34 0.20 0.09 0.09 Debt to Equity
-- -- -- -- -- -- -- 114 94.21 117 121 151 136 168 224 -- -- PensionAndRetirementBenefit
-- -- -- -- -- -- -- 7.98 25.58 -- -- -- -- -- -- -- -- NonCurrent Deferred Liabilities
70.69 119 166 240 320 346 474 681 775 1,113 1,239 135 134 140 149 151 151 Minority Interest
4,327 4,657 4,734 4,810 7,649 10,472 14,454 16,992 19,577 22,760 34,706 39,766 39,462 45,328 50,430 63,800 63,800 Other Long-Term Liabilities
4,533 4,853 5,287 5,776 8,707 11,367 15,779 17,719 20,161 23,338 35,286 41,353 40,907 46,895 51,663 64,384 64,384 Total Liabilities
0.04 0.04 0.03 0.03 0.03 0.04 0.04 0.04 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 Common Stock
-- -- -- -- 221 -- -- -- -- -- -- -- -- -- -- 340 340 Preferred Stock
500 588 642 683 710 733 828 1,000 1,175 1,391 1,650 1,994 2,376 2,867 3,792 4,576 4,576 Retained Earnings
-3.23 -26.89 -17.92 -6.29 -5.79 5.91 24.14 85.40 109 -48.76 42.70 15.40 23.43 -1.47 -54.12 84.45 84.45 Accumulated other comprehensive
income (loss)
45.23 8.44 4.87 -- 66.20 389 422 484 547 624 1,120 1,189 1,243 1,314 1,378 1,470 1,470 Additional Paid-In Capital
542 569 629 677 991 1,128 1,274 1,569 1,831 1,966 2,813 3,198 3,643 4,180 5,116 6,470 6,470 Total Equity
0.11 0.10 0.10 0.10 0.10 0.09 0.07 0.08 0.08 0.07 0.07 0.07 0.08 0.08 0.09 0.09 0.09 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SIVB 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
63.87 92.54 89.39 124 55.15 10.64 137 283 250 545 479 375 390 519 1,011 1,137 1,173 Net Income
63.87 92.54 89.39 124 55.15 10.64 137 283 250 545 479 375 390 519 1,011 1,185 1,185 Net Income From Continuing
Operations
6.69 1.67 23.87 19.45 22.92 24.93 23.22 27.49 28.12 36.26 39.35 40.01 46.82 56.12 57.91 -- 74.93 Depreciation, Depletion and
Amortization
-- -- -- 3.69 -3.27 1.61 -4.39 -38.77 -- -- -- -- -- -- -- -- -- Change In Receivables
-- -- -- -- -- -28.18 10.65 8.75 8.32 -- -- -- -- -- -- -- -- Change In Prepaid Assets
4.65 1.99 -5.54 19.40 -31.53 1.92 41.20 -0.81 9.63 -24.81 -- -- -- -- -- -- -- Change In Payables And Accrued
Expense
12.85 2.47 -11.35 29.69 -42.69 -60.07 65.98 76.79 -13.08 -26.91 17.47 20.90 24.55 44.98 -57.82 -- -282 Change In Working Capital
5.57 -0.99 -5.24 -12.97 8.78 0.33 -1.62 7.36 1.80 15.05 -43.11 -9.13 -4.24 25.19 -21.06 -- -6.25 Change In DeferredTax
-- -- -- 15.13 13.61 14.78 -- 18.22 21.86 25.41 29.55 32.24 35.49 36.90 45.68 -- 62.26 Stock Based Compensation
5.37 17.88 30.93 -17.26 69.28 92.26 -61.17 -246 -96.44 -424 -267 -120 -21.13 -35.51 -110 -- -94.47 Cash Flow from Others
94.34 114 128 175 127 86.96 163 166 196 172 255 339 472 647 934 -- 939 Cash Flow from Operations
-8.42 -18.26 -20.70 -12.85 -8.54 -15.96 -27.06 -30.86 -34.26 -30.00 -42.43 -53.92 -53.31 -50.88 -45.87 -- -51.02 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -- -1.30 -- -- -- -- -- -- -- -- -- -102 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- 55.28 -- 3.00 -- -- -- Sale Of Business
-1,432 -534 -129 -188 -507 -3,450 -6,930 -7,352 -4,140 -3,511 -11,411 -7,515 -1,784 -8,432 -5,476 -- -8,372 Purchase Of Investment
891 523 490 363 317 740 2,872 4,748 3,239 2,635 2,694 3,347 5,976 5,679 5,897 -- 6,400 Sale Of Investment
-- -- -- -0.40 -- -- -0.36 -- -- -- -- -- -- -- -- -- -- Net Intangibles Purchase And Sale
-327 -538 -640 -677 -1,359 869 -966 -1,405 -1,952 -1,932 -3,474 -2,329 -3,157 -3,170 -5,175 -- -3,504 Cash From Other Investing Activities
-876 -568 -300 -516 -1,558 -1,857 -5,053 -4,039 -2,886 -2,839 -12,234 -6,496 982 -5,970 -4,800 -- -5,629 Cash Flow from Investing
-- -- -- 31.21 32.81 298 24.02 36.87 29.28 46.57 457 22.41 26.15 27.00 18.39 -- 19.44 Issuance of Stock
12.51 -13.66 -69.89 -147 -45.62 -- -- -- -- -- -- -- -- -- -147 -- -353 Repurchase of Stock
-- -- -- -- -- -235 -- -- -- -- -- -- -- -- -- -- -- Net Issuance of Preferred Stock
-8.14 270 554 -98.61 -6.19 -126 341 -638 23.46 -161 2.70 1,114 -262 423 -402 -- -2,612 Net Issuance of Debt
-- -- -- -- -- -12.11 -- -- -- -- -- -- -- -- -- -- -- Cash Flow for Dividends
570 33.22 -142 606 3,203 2,922 4,088 2,512 2,532 3,311 11,791 4,713 -175 5,251 5,046 -- 10,909 Other Financing
574 289 342 392 3,184 2,847 4,453 1,911 2,584 3,197 12,251 5,849 -411 5,701 4,515 -- 7,817 Cash Flow from Financing
-209 -165 170 51.48 1,754 1,076 -436 -1,961 -106 530 272 -308 1,042 377 648 -- 3,127 Net Change in Cash
-8.42 -18.26 -20.70 -13.25 -8.54 -15.96 -27.42 -30.86 -34.26 -30.00 -42.43 -53.92 -53.31 -50.88 -45.87 -- -51.02 Capital Expenditure
85.92 95.31 107 162 119 71.00 136 136 162 142 213 285 418 596 888 -- -- Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SIVB 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
26.06 19.52 19.51 15.00 12.49 64.09 23.68 12.10 14.35 22.36 21.61 17.96 23.48 25.38 10.49 -- 9.08 PE Ratio(TTM)
21.06 20.45 19.63 12.14 17.38 -- 13.51 7.79 14.69 22.74 23.74 17.09 21.97 21.69 11.19 -- 11.62 Price to Owner Earnings
(TTM)
2.97 2.89 2.55 2.43 1.12 1.53 1.76 1.32 1.36 2.44 2.10 1.92 2.46 2.95 1.95 -- 1.67 Price to Book
3.18 3.08 2.64 2.45 1.13 1.53 1.76 1.32 1.36 2.44 2.10 1.92 2.46 2.95 1.95 -- 1.72 Price to Tangible Book
19.75 18.91 16.10 11.50 7.51 18.89 16.58 15.35 15.56 34.22 26.55 21.64 21.52 20.89 11.51 -- 11.74 Price-to-Free-Cash-Flow
Ratio
17.98 15.88 13.52 10.61 7.00 15.59 13.80 12.51 12.83 28.23 22.23 18.20 19.09 19.25 10.94 -- 11.11 Price-to-Operating-Cash-
Flow Ratio
4.97 4.33 3.53 3.08 1.71 2.98 3.39 2.32 2.68 3.58 4.07 4.26 5.71 6.42 3.93 -- 3.35 PS Ratio
-- -- 0.54 0.21 0.17 -- -- 3.45 0.50 0.32 0.56 0.99 2.72 5.76 -- -- -- PEG Ratio
4.73 4.01 3.91 4.19 0.97 -1.02 1.42 -9.04 -9.07 -5.17 -5.43 -6.93 -2.98 0.05 -0.04 -- -2.49 EV-to-Revenue
14.10 10.51 10.42 9.78 3.90 -6.94 4.28 5.64 7.38 6.88 8.28 9.84 11.54 12.38 -- -- -- EV-to-EBITDA
-23.44 -2.42 25.05 25.71 31.53 -14.37 -9.53 10.51 25.66 22.82 22.76 21.26 11.46 6.99 -- -- -- Forward Rate of Return
30.95 28.09 24.70 22.77 11.27 18.19 26.57 21.52 22.47 35.41 35.39 32.31 40.90 48.25 29.17 -- 23.96 Shiller PE Ratio
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,612 1,644 1,604 1,647 864 1,722 2,242 2,075 2,498 4,803 5,911 6,136 8,970 12,351 9,987 -- 10,200 Market Cap
1,605 1,673 1,929 2,527 505 -491 947 -8,116 -8,482 -6,977 -7,632 -10,050 -4,689 94.26 -93.65 -- -8,159 Enterprise Value
44.82 46.84 46.62 50.40 26.23 41.66 53.05 47.69 55.97 105 116 119 172 234 190 -- 198 Month End Stock Price
-120 -133 -147 -174 -215 -200 -313 -159 -195 -242 -418 -460 -496 -629 -772 -847 -847 Net Cash (per share)
-118 -130 -141 -168 -213 -194 -312 -157 -194 -241 -416 -458 -494 -626 -768 -828 -828 Net-Net Working Capital (per
share)
32.41 34.36 38.06 42.56 68.17 57.86 50.55 56.42 61.99 70.10 83.27 91.63 101 125 169 -- -- Projected FCF (per share)
35.95 46.82 58.44 68.78 61.16 55.17 58.43 76.59 72.81 101 95.84 93.62 101 124 174 -- 221 Median PS (per share)
-- 24.84 59.25 84.00 52.50 -- -- 20.33 97.50 117 134 120 63.16 -- -- -- -- Peter Lynch Fair Value (per
share)
23.20 28.65 30.68 39.51 33.62 20.13 38.98 56.55 60.07 67.16 81.24 96.07 107 128 199 237 237 Graham Number (per share)
0.33 0.33 -6.85 -20.76 24.06 66.25 38.69 246 257 273 285 308 255 225 184 -- 350 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 -- 9,999 Piotroski F-Score
-2.35 -1.62 -2.74 -2.65 -2.06 -2.54 -2.86 -1.81 -2.56 -2.23 -1.96 -2.73 -2.32 -2.29 -2.04 -- -2.11 Beneish M-Score
0.12 0.12 0.17 0.26 0.06 -0.11 -0.00 0.11 0.11 0.10 0.11 0.09 0.06 0.07 0.06 0.01 0.01 Scaled Net Operating
Assets
16.44 9.87 4.30 6.94 15.02 14.16 28.44 20.25 12.59 10.91 31.12 14.55 -2.40 11.35 8.50 1.60 9.85 Sloan Ratio (%)
44.99 51.91 54.64 54.58 66.00 45.55 54.24 62.50 67.44 106 132 151 174 242 331 -- 271 Highest Stock Price
31.02 41.08 44.03 46.15 23.98 12.04 36.95 34.41 47.69 55.97 96.02 103 79.97 161 180 -- 183 Lowest Stock Price
-2.69 2.41 2.00 5.03 -0.80 -25.52 -2.25 -2.93 -2.57 -2.63 -11.19 -1.35 -1.25 -1.11 0.47 1.77 1.77 Shares Buyback Ratio (%)
16.39 20.42 21.59 24.73 -6.58 -8.34 11.62 31.33 1.53 40.65 -3.73 -1.29 7.72 21.04 32.85 31.13 29.17 YoY Rev. per Sh. Growth
(%)
386 41.18 -0.83 41.60 -35.91 -69.44 239 75.89 -0.76 19.44 13.70 24.67 10.42 25.85 96.85 19.99 19.99 YoY EPS Growth (%)
-28.31 -7.40 36.33 71.73 72.29 -21.78 -15.58 3.51 28.44 70.78 38.86 18.07 8.64 4.41 -- -- -- EBITDA 5-Y Growth (%)
35.29 35.05 34.65 33.95 32.43 33.90 41.77 43.00 44.24 45.31 48.93 51.32 51.92 52.59 53.08 51.92 51.59 Shares Outstanding (Basic
Average)
35.97 35.10 34.40 32.67 32.93 41.34 42.27 43.51 44.63 45.80 50.92 51.61 52.25 52.84 52.59 51.66 51.66 Shares Outstanding (EOP)
1.72 1.68 0.97 0.42 0.69 1.33 1.40 1.92 1.76 2.10 1.37 1.21 1.50 1.87 2.48 2.53 2.52 Beta
03/16/05 03/27/06 03/01/07 02/29/08 03/02/09 03/01/10 02/25/11 02/28/12 02/27/13 02/27/14 02/26/15 02/26/16 02/28/17 02/28/18 02/28/19 01/23/20 Filing Date
03/27/06 03/01/07 03/01/07 03/02/09 02/25/11 02/28/12 02/28/12 02/27/14 02/26/15 02/26/16 02/28/17 02/28/18 02/28/19 02/28/19 02/28/19 01/23/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SIVB 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SIVB 7/7
Alexion Pharmaceuticals Inc (NAS:ALXN) 03/03/2020 2:00PM EST GuruFocus
Price: $ 92.58 -3.58(-3.73%) Market Cap: $ 20.5 B Enterprise Value: $20.41 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 8.61
Cash to Debt 1.03 Operating margin (%) 42.87
Forward P/E N/A
Equity to Asset 0.64 Net-margin (%) 48.17
PE(NRI) 8.61
Interest Coverage 27.51 ROE (%) 23.72
F-Score:
P/B 1.82
ROA (%) 16.06
8 P/S 4.18
Z-Score: ROC (Joel Greenblatt) (%) 89.70
3.38 PFCF 10.86
Revenue Growth (3Y)(%) 17.70
M-Score: POCF 10.00
-2.05 EBITDA Growth (3Y)(%) 35.30
EV-to-EBIT 9.06
WACC vs 11.19% EPS Growth (3Y)(%) 82.50
ROIC 21.68% PEG 0.61
WACC
ROIC Shiller P/E 38.76
Current Ratio 4.25
Quick Ratio 3.73
Days Inventory 491.03
Days Sales Outstanding 90.92
Warning Signs Quarterly Revenues Company Description
Tax Rate: Tax Rate is too low Mar Jun Sep Dec Full Year Alexion Pharmaceuticals specializes in developing and marketing drugs for rare, life-threatening medical conditions. Its
blockbuster product, Soliris, is approved for paroxysmal nocturnal hemoglobinuria (PNH), atypical hemolytic uremic
2016 701 753 799 831 3,084 syndrome (aHUS), generalized myasthenia gravis (gMG), and neuromyelitis optica spectrum disorder (NMOSD). Next-
2017 870 913 859 910 3,551 generation Ultomiris is approved in PNH and aHUS. Strensiq and Kanuma target other ultrarare metabolic diseases.
Good Signs 2018 931 1,045 1,027 1,129
Alexion's pipeline targets rare diseases with high unmet need in hematology, nephrology, metabolic diseases,
4,131 neurology, cardiology, and other areas.... (Read More)
Piotroski F-Score: High 2019 1,140 1,203 1,263 1,384 4,991 Competitors: NAS:SGEN, XKRX:068270 , HKSE:02269 , XKRX:207940 , XBRU:UCB, HKSE:01177 , NAS:INCY,
2020 XAMS:GLPG, NAS:BMRN, OCSE:GMAB, NAS:ALNY, SZSE:300122, HKSE:06160, NAS:ARRY, NAS:NBIX,
Revenue per Share: NAS:SRPT, NAS:IONS, SZSE:002007, NAS:TECH, NAS:JAZZ
Consistent growth Quarterly Earnings per Share
Insider Trades
Operating Margin %: Mar Jun Sep Dec Full Year
Expansion 2016 0.41 0.53 0.42 0.41 1.77
2017 0.75 0.73 0.35 0.13 1.96
Price: Close to 5-year low 2018 1.11 -2.05 1.47 -0.20 0.33
PE Ratio: Close to 10-year 2019 2.61 2.04 2.08 4.00 10.73
low 2020
PB Ratio: Close to 10-year Quarterly Dividends Per Share
low Mar Jun Sep Dec Full Year
PS Ratio: Close to 10-year 2016 0.00 0.00 0.00 0.00 0.00
low 2017 0.00 0.00 0.00 0.00 0.00
2018 0.00 0.00 0.00 0.00 0.00
2019 0.00 0.00 0.00 0.00 0.00
DCF 2020
EPS without NRI: $10.73 Growth Rate
Growth Rate in the next 10
years: 9.70% Annual Rates(per share) 10-Y 5-Y 12-M
Terminal Growth Rate for 10 Revenue Growth (%) 25.90 15.00 20.60
years: 4% EBITDA Growth (%) 27.30 14.70 252.60
Fair Value: $155.23
Free Cash Flow Growth (%) 21.50 12.90 797.30
Book Value Growth (%) 32.50 18.60 24.20
Reverse DCF EPS Growth (%) 9.70 12.50 2957.10
Expected eps Growth Rate:
1.56%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALXN 1/7
Per Share Data
Jul04 Jul05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
0.05 0.01 0.01 0.50 1.44 2.14 2.91 4.08 5.71 7.77 11.06 12.06 13.63 15.76 18.40 22.20 22.23 Revenue per Share
-0.77 -0.96 -1.05 -0.65 0.25 0.53 0.89 1.29 2.16 2.80 4.56 3.30 4.73 5.07 3.32 11.71 11.73 EBITDA per Share
-0.82 -0.99 -1.08 -0.69 0.21 0.46 0.81 1.20 2.04 2.66 4.33 2.53 2.97 2.87 1.52 10.04 10.05 EBIT per Share
-0.86 -0.98 -1.04 -0.64 0.20 1.63 0.52 0.91 1.28 1.27 3.26 0.67 1.76 1.97 0.35 10.70 10.73 Earnings per Share (diluted)
-0.86 -0.98 -1.04 -0.64 0.20 1.63 0.52 0.91 1.28 1.27 3.26 0.67 1.76 1.97 0.35 10.70 10.73 eps without NRI
-0.70 -0.71 -1.05 -1.21 0.02 1.41 0.46 0.97 1.56 2.30 3.33 0.93 2.76 2.34 -0.61 8.19 8.19 Owner Earnings per Share (TTM)
-0.87 -0.90 -1.12 -1.44 0.03 0.28 0.80 1.29 1.96 2.34 2.49 1.80 3.33 3.36 0.95 8.52 8.52 Free Cashflow per Share
1.57 0.60 0.88 0.67 1.51 3.87 4.70 6.12 10.12 12.09 16.59 36.60 38.81 40.01 41.01 50.93 50.93 Book Value per Share
1.39 0.42 0.74 0.54 1.19 3.59 4.46 5.19 5.50 7.71 12.36 -6.63 -2.89 -0.44 2.18 13.06 13.06 Tangible Book per Share
1.13 1.33 1.24 1.29 0.88 0.06 0.03 -- 0.77 0.74 0.83 15.83 14.68 14.53 14.35 12.05 12.05 Total Debt per Share
3.98 6.51 10.10 18.76 18.10 24.41 40.28 71.50 93.74 133 185 191 122 120 97.36 108 92.58 Month End Stock Price
Ratios
Jul04 Jul05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-50.61 -90.55 -137 -81.59 19.02 63.11 12.54 17.58 16.41 11.62 23.12 2.50 4.71 5.04 0.86 23.53 23.72 Return on Equity %
-25.25 -38.31 -45.22 -27.64 8.17 46.71 10.79 14.57 12.71 8.53 17.47 1.67 3.03 3.30 0.56 15.28 16.06 Return on Assets %
-596 -963 -541 -97.05 20.42 35.38 51.06 71.14 116 152 174 58.92 47.24 35.08 15.19 88.68 89.70 Return on Capital %
-238 -418 -256 -71.96 14.89 79.47 19.21 34.00 33.72 25.41 54.83 3.31 5.20 6.10 4.76 21.47 21.68 Return on Invested Capital %
9.35 9.48 13.64 7.92 7.86 7.02 7.03 3.95 5.61 7.16 10.81 9.21 8.04 8.07 10.31 12.26 11.19 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 1.42 0.78 8.79 30.44 9.94 2.80 1.94 2.56 2.83 3.02 3.05 2.65 2.77 Effective Interest Rate on Debt %
-- -- -- 90.71 89.05 88.35 88.09 88.11 93.58 88.55 92.21 91.05 91.62 87.21 90.94 92.10 92.10 Gross Margin %
-1,529 -10,370 -8,799 -138 13.36 22.51 27.98 31.18 39.98 36.52 41.00 26.20 25.73 22.64 38.60 42.87 42.87 Operating Margin %
-1,608 -10,221 -8,441 -128 12.79 76.31 17.94 22.38 22.47 16.30 29.41 5.55 12.95 12.48 1.88 48.17 48.17 Net Margin %
-1,630 -9,386 -9,099 -289 1.87 13.14 27.37 31.67 34.28 30.17 22.52 14.93 24.44 21.35 5.16 38.35 38.35 FCF Margin %
0.72 2.22 1.41 1.92 0.58 0.02 0.01 -- 0.08 0.06 0.05 0.43 0.38 0.36 0.35 0.24 0.24 Debt to Equity
0.54 0.27 0.37 0.30 0.52 0.88 0.85 0.81 0.75 0.72 0.79 0.63 0.66 0.66 0.66 0.64 0.64 Total Equity to Total Asset
0.39 0.61 0.53 0.58 0.30 0.01 0.01 -- 0.06 0.04 0.04 0.27 0.25 0.24 0.23 0.15 0.15 Total Debt to Total Asset
1.57 0.37 0.54 19.57 56.84 54.07 52.99 57.36 52.95 46.32 54.79 27.41 21.45 23.08 27.31 29.21 30.70 Gross Profit to Total Asset %
0.02 0.00 0.01 0.22 0.64 0.61 0.60 0.65 0.57 0.52 0.59 0.30 0.23 0.27 0.30 0.32 0.33 Asset Turnover
-- -- -- 234 105 107 114 114 95.13 99.23 70.73 74.71 76.88 74.67 81.49 90.92 90.92 Days Sales Outstanding
-- -- -- 495 111 93.40 90.78 62.81 108 44.39 92.33 89.25 90.58 56.90 72.55 68.47 68.47 Days Accounts Payable
-- -- -- 960 532 367 292 281 441 203 293 365 470 336 455 509 491 Days Inventory
-- -- -- 700 526 381 315 332 428 257 271 351 456 353 464 531 513 Cash Conversion Cycle
-- -- -- 0.38 0.69 0.99 1.25 1.30 0.83 1.80 1.25 1.00 0.78 1.09 0.80 0.72 0.74 Inventory Turnover
-- -- -- 0.09 0.11 0.12 0.12 0.12 0.06 0.11 0.08 0.09 0.08 0.13 0.09 0.08 0.08 COGS to Revenue
-- -- 0.74 0.24 0.16 0.12 0.10 0.09 0.08 0.06 0.06 0.09 0.11 0.12 0.11 0.11 0.11 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALXN 2/7
Income Statement
Jul04 Jul05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4.61 1.06 1.56 72.04 259 387 541 783 1,134 1,551 2,234 2,604 3,084 3,551 4,131 4,991 4,991 Revenue
-- -- -- 6.70 28.37 45.06 64.44 93.14 72.84 178 174 233 258 454 374 395 395 Cost of Goods Sold
4.61 1.06 1.56 65.35 231 342 477 690 1,061 1,374 2,060 2,371 2,826 3,097 3,757 4,597 4,597 Gross Profit
-- -- -- 90.71 89.05 88.35 88.09 88.11 93.58 88.55 92.21 91.05 91.62 87.21 90.94 92.10 92.10 Gross Margin %
14.46 18.95 54.88 96.14 134 173 227 308 385 490 630 863 953 1,094 1,112 1,261 1,261 Selling, General, & Admin. Expense
59.84 91.39 83.23 68.96 62.58 81.92 98.39 137 223 317 514 710 757 878 730 886 886 Research & Development
0.76 1.06 0.54 -- -0.00 -0.00 -0.00 0.38 0.42 0.42 -- 117 322 320 320 310 310 Other Operating Expense
-70.45 -110 -137 -99.76 34.61 87.06 151 244 453 567 916 682 793 804 1,595 2,140 2,140 Operating Income
-1,529 -10,370 -8,799 -138 13.36 22.51 27.98 31.18 39.98 36.52 41.00 26.20 25.73 22.64 38.60 42.87 42.87 Operating Margin %
-- -- -- -- 2.81 0.79 1.51 1.91 -- -- -- -- -- -- -- -- -- Interest Income
-- -- -- -- -2.41 -0.61 -0.70 -0.79 -7.40 -4.11 -3.00 -47.80 -96.90 -98.40 -98.20 -77.80 -77.80 Interest Expense
-- -- -- -- 0.40 0.18 -0.70 -0.79 -7.40 -4.11 -3.00 -47.80 -96.90 -98.40 -98.20 -77.80 -77.80 Net Interest Income
-4.34 0.82 5.20 6.72 -0.28 -3.93 -1.65 -13.86 -48.48 -36.18 -41.00 -136 -120 -158 -1,254 117 117 Other Income (Expense)
-74.79 -110 -132 -93.04 34.73 83.31 149 230 398 526 872 498 576 548 242 2,179 2,179 Pre-Tax Income
0.69 0.77 0.37 0.75 -1.58 212 -51.98 -54.35 -143 -273 -215 -354 -177 -105 -165 226 226 Tax Provision
0.92 0.70 0.28 0.80 4.55 -254 34.88 23.67 35.90 51.95 24.66 71.01 30.68 19.08 67.96 -10.35 -10.35 Tax Rate %
-74.10 -109 -132 -92.29 33.15 295 97.03 175 255 253 657 144 399 443 77.60 2,404 2,404 Net Income (Continuing Operations)
-74.10 -109 -132 -92.29 33.15 295 97.03 175 255 253 657 144 399 443 77.60 2,404 2,404 Net Income
-1,608 -10,221 -8,441 -128 12.79 76.31 17.94 22.38 22.47 16.30 29.41 5.55 12.95 12.48 1.88 48.17 48.17 Net Margin %
-0.86 -0.98 -1.04 -0.64 0.22 1.73 0.54 0.96 1.34 1.29 3.32 0.68 1.78 1.98 0.35 10.77 10.79 EPS (Basic)
-0.86 -0.98 -1.04 -0.64 0.20 1.63 0.52 0.91 1.28 1.27 3.26 0.67 1.76 1.97 0.35 10.70 10.73 EPS (Diluted)
86.49 111 127 145 180 181 186 192 199 200 202 216 226 225 225 225 223 Shares Outstanding (Diluted
Average)
3.59 3.68 3.71 4.93 7.61 12.47 15.79 17.62 23.89 28.69 47.00 167 396 497 405 377 377 Depreciation, Depletion and
Amortization
-66.86 -107 -133 -94.83 44.75 96.39 166 248 429 559 922 713 1,070 1,143 746 2,633 2,633 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALXN 3/7
Balance Sheet
Jul04 Jul05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
113 46.95 167 95.32 138 157 267 541 990 530 944 1,010 966 584 1,366 2,686 2,686 Cash And Cash Equivalents
153 148 49.73 10.43 -- 19.05 94.46 -- -- 985 1,018 375 327 890 198 64.00 64.00 Marketable Securities
267 195 217 106 138 176 362 541 990 1,515 1,962 1,385 1,293 1,474 1,564 2,750 2,750 Cash, Cash Equivalents, Marketable
Securities
-- -- -- 46.28 74.48 114 169 244 296 422 433 533 650 727 922 1,243 1,243 Accounts Receivable
-- -- -- 4.99 3.81 2.68 4.84 9.68 6.49 12.17 14.57 18.00 17.40 4.70 31.40 41.20 41.20 Inventories, Raw Materials &
Components
-- -- -- 17.68 27.02 6.90 37.31 37.00 43.90 62.19 107 180 143 149 90.40 181 181 Inventories, Work In Process
-- -- 2.31 10.25 19.00 31.31 20.02 34.71 44.14 28.24 54.70 92.00 215 307 351 406 406 Inventories, Finished Goods
-- -- -- -- -- -- -- -- -- 0.00 -- -- -- -- -- -- -- Inventories, Other
-- -- 2.31 32.91 49.82 40.89 62.17 81.39 94.52 103 176 290 375 460 473 628 628 Total Inventories
4.34 4.44 16.46 20.42 14.79 42.62 54.05 74.73 116 148 225 208 261 293 426 456 456 Other Current Assets
276 201 237 205 277 373 647 941 1,496 2,187 2,796 2,416 2,578 2,954 3,385 5,076 5,076 Total Current Assets
-- -- 0.69 0.69 0.69 0.69 0.69 0.69 0.69 0.69 9.13 9.00 10.30 9.60 9.60 9.60 9.60 Land And Improvements
-- 9.72 10.16 9.27 20.59 133 133 141 148 155 170 252 450 428 520 209 209 Buildings And Improvements
-- 14.20 15.19 19.39 30.36 56.41 67.34 80.97 92.09 108 136 192 274 325 334 305 305 Machinery, Furniture, Equipment
-- -- 28.83 91.31 110 3.29 3.83 3.64 5.00 41.57 214 420 495 724 827 734 734 Construction In Progress
24.07 23.93 54.87 121 162 193 205 226 246 305 530 873 1,229 1,486 1,691 1,588 1,588 Gross Property, Plant and Equipment
-12.70 -12.38 -15.74 -16.37 -21.77 -28.38 -43.05 -60.61 -79.99 -104 -138 -176 -193 -160 -219 -221 -221 Accumulated Depreciation
11.37 11.55 39.14 104 140 165 162 166 166 201 392 697 1,036 1,325 1,472 1,367 1,367 Property, Plant and Equipment
19.95 19.95 19.95 19.95 52.28 48.54 44.10 171 900 864 841 9,756 9,341 8,992 8,679 8,382 8,382 Intangible Assets
-- -- 19.95 19.95 19.95 19.95 19.95 79.64 254 254 254 5,048 5,037 5,037 5,037 5,037 5,037 Goodwill
11.92 15.46 37.67 4.77 8.29 200 159 116 52.01 65.94 173 228 299 312 397 2,719 2,719 Other Long Term Assets
320 248 334 334 478 786 1,012 1,395 2,614 3,318 4,202 13,097 13,253 13,583 13,932 17,545 17,545 Total Assets
3.97 7.46 10.94 9.07 8.66 11.53 16.03 16.03 21.49 21.60 44.02 57.00 64.10 70.80 74.40 74.00 74.00 Accounts Payable
-- -- -- -- -- -- -- 18.31 68.43 109 94.82 12.00 38.90 30.70 24.40 104 104 Total Tax Payable
14.98 23.82 27.17 37.40 79.86 78.45 123 200 271 424 439 460 572 710 698 967 967 Accounts Payable & Accrued
Expense
3.92 0.08 0.07 0.27 2.80 0.42 0.72 -- 48.00 48.00 48.00 166 167 167 344 127 127 Current Portion of Long-Term Debt
0.59 0.82 0.59 0.04 1.13 1.65 2.90 17.91 31.27 53.80 58.84 21.00 36.60 -- -- -- -- Current Deferred Revenue
-- -- -- -- 0.64 -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
0.59 0.82 0.59 0.04 1.77 1.65 2.90 17.91 31.27 53.80 58.84 21.00 36.60 -- -- -- -- DeferredTaxAndRevenue
0.19 -- -0.00 0.00 -- 4.74 11.85 10.23 9.55 56.69 60.66 62.00 47.20 74.90 132 101 101 Other Current Liabilities
19.67 24.71 27.82 37.71 84.42 85.26 139 228 360 582 607 709 823 953 1,174 1,194 1,194 Total Current Liabilities
120 150 176 194 141 9.92 3.72 -- 101 65.00 9.50 3,254 2,888 2,721 2,502 2,375 2,375 Long-Term Debt
-- 0.15 0.28 0.50 0.20 0.50 0.74 -- -- 32.23 107 151 233 343 361 164 164 Capital Lease Obligation
120 150 176 194 141 10.42 4.46 -- 101 97.23 117 3,405 3,122 3,064 2,863 2,539 2,539 Long-Term Debt & Capital Lease
Obligation
0.72 2.22 1.41 1.92 0.58 0.02 0.01 -- 0.08 0.06 0.05 0.43 0.38 0.36 0.35 0.24 0.24 Debt to Equity
-- -- -- -- 0.91 0.20 -- 0.00 19.83 101 7.05 529 396 365 391 2,081 2,081 NonCurrent Deferred Liabilities
7.38 5.59 4.76 0.59 3.80 2.16 9.32 32.47 162 155 170 195 220 309 339 458 458 Other Long-Term Liabilities
147 180 209 233 231 98.05 152 260 643 936 900 4,838 4,560 4,690 4,767 6,273 6,273 Total Liabilities
0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.02 0.02 0.02 0.02 -- -- -- -- -- -- Common Stock
-339 -448 -638 -729 -696 -401 -304 -129 126 379 1,036 1,181 1,818 2,242 2,326 4,640 4,640 Retained Earnings
-0.35 -2.50 -0.18 -1.44 2.95 -1.94 -7.14 4.18 6.64 -22.86 56.79 62.00 60.50 -34.40 -9.70 -66.80 -66.80 Accumulated other comprehensive
income (loss)
513 519 764 834 941 1,094 1,173 1,262 1,852 2,106 2,592 7,727 7,957 8,290 8,539 8,805 8,805 Additional Paid-In Capital
-0.60 -0.60 -1.26 -1.26 -1.26 -2.68 -2.68 -2.68 -14.23 -80.37 -383 -711 -1,141 -1,605 -1,690 -2,106 -2,106 Treasury Stock
173 67.67 125 102 247 688 860 1,134 1,971 2,382 3,302 8,259 8,694 8,893 9,165 11,272 11,272 Total Equity
0.54 0.27 0.37 0.30 0.52 0.88 0.85 0.81 0.75 0.72 0.79 0.63 0.66 0.66 0.66 0.64 0.64 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALXN 4/7
Cashflow Statement
Jul04 Jul05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-74.10 -109 -132 -92.29 33.15 295 97.03 175 255 253 657 144 399 443 77.60 2,404 2,404 Net Income
-- -- -- -- 0.00 -1.00 -0.52 5.52 -3.02 1.14 -- -- 6.90 -9.40 4.80 -2.10 -- Net Foreign Currency Exchange
Gain
-74.10 -109 -132 -92.29 33.15 295 97.03 175 255 253 657 144 399 443 77.60 2,404 2,404 Net Income From Continuing
Operations
3.59 3.68 3.71 4.93 7.61 12.47 15.79 17.62 23.89 28.69 47.00 167 396 497 405 377 377 Depreciation, Depletion and
Amortization
-3.77 -- -- -49.55 -31.26 -36.44 -59.24 -78.78 -72.87 -116 -28.00 -116 -122 -55.20 -209 -319 -319 Change In Receivables
-- -- -2.31 -30.59 -15.70 14.60 -14.12 -12.18 -6.27 0.13 -67.00 -88.40 -83.80 -88.20 -14.70 -157 -157 Change In Inventory
-0.07 2.98 0.94 -0.44 0.95 -6.93 -2.77 -21.04 -17.04 -39.88 -18.00 -57.20 -97.50 -137 -156 -31.00 -31.00 Change In Prepaid Assets
-0.41 3.48 7.07 11.48 32.91 14.13 47.46 79.78 68.95 242 265 -116 167 110 -55.10 231 231 Change In Payables And Accrued
Expense
-2.36 10.40 -3.40 -74.44 -11.76 -14.24 -27.36 -17.18 -14.05 110 158 -415 -137 -171 -434 -276 -276 Change In Working Capital
-- -- -- -- -- -209 36.39 42.07 71.16 92.83 -154 396 104 -45.90 32.90 -455 -455 Change In DeferredTax
-- -- -- -- 23.68 28.73 32.34 44.76 54.01 76.20 114 227 192 243 203 237 237 Stock Based Compensation
0.87 -2.22 21.30 22.19 0.52 0.44 6.72 7.51 -5.51 -96.43 -194 157 45.50 30.10 128 -201 -201 Cash Flow from Others
-71.99 -96.88 -110 -140 53.20 114 161 270 411 497 640 675 1,086 1,116 426 2,085 2,085 Cash Flow from Operations
-3.14 -2.98 -31.86 -68.83 -39.73 -35.28 -12.84 -21.98 -21.85 -29.33 -137 -286 -333 -357 -213 -155 -155 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -- -- -106 -606 -- -- -3,939 -- -- -10.30 -73.30 -- Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 115 -- Sale Of Business
-169 -509 -735 -48.72 -- -19.03 -130 -- -- -1,049 -705 -535 -676 -1,659 -795 -97.80 -97.80 Purchase Of Investment
205 513 854 87.99 9.37 -- 53.39 94.46 -- 60.92 620 1,170 722 1,098 1,486 237 237 Sale Of Investment
-- -- -- -- -8.62 -27.74 -0.02 -- -- -- -- -- -- -- -- -16.00 -16.00 Net Intangibles Purchase And Sale
-0.00 -- -33.59 32.64 0.34 0.62 0.02 -0.31 -0.00 -9.32 -1.00 5.40 -1.10 0.10 2.80 -0.10 41.30 Cash From Other Investing Activities
33.15 1.63 53.91 3.08 -38.65 -81.42 -89.32 -33.72 -628 -1,027 -223 -3,585 -288 -918 471 9.70 9.70 Cash Flow from Investing
127 3.74 154 47.01 28.89 30.73 -- -- 462 -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -0.28 -- -- -- -- -- -11.55 -66.14 -303 -328 -431 -464 -85.00 -416 -416 Repurchase of Stock
-- 30.00 25.78 17.84 -0.27 -44.30 -- -- 149 -36.00 -55.00 3,399 -375 -175 -43.80 -348 -348 Net Issuance of Debt
-- -4.76 -- -- -0.31 -0.70 -- -- 66.72 174 365 -86.00 -30.60 42.00 26.40 24.90 24.90 Other Financing
127 28.99 179 64.84 28.31 -14.27 38.87 39.05 666 71.64 7.00 2,985 -836 -597 -102 -739 -739 Cash Flow from Financing
88.38 -66.27 123 -71.51 42.69 19.16 110 274 449 -460 414 66.10 -44.10 -382 783 1,356 1,356 Net Change in Cash
-3.14 -2.98 -31.86 -68.83 -48.36 -63.02 -12.84 -21.98 -21.85 -29.33 -137 -286 -333 -357 -213 -171 -171 Capital Expenditure
-75.13 -99.86 -142 -208 4.84 50.83 148 248 389 468 503 389 754 758 213 1,914 1,914 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALXN 5/7
Valuation Ratios
Jul04 Jul05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- 96.53 15.02 76.72 78.57 73.81 105 56.76 251 69.12 61.02 295 10.08 8.61 PE Ratio(TTM)
-- -- -- -- 1,006 17.29 88.53 74.09 60.24 57.85 55.51 206 44.38 51.09 -- 13.21 11.30 Price to Owner Earnings
(TTM)
2.54 10.85 11.50 27.96 11.97 6.31 8.57 11.69 9.26 10.99 11.15 5.21 3.15 2.99 2.37 2.12 1.82 Price to Book
2.87 15.39 13.70 34.81 15.18 6.79 9.04 13.77 17.05 17.24 14.97 -- -- -- 44.72 8.28 7.09 Price to Tangible Book
-- -- -- -- 4,525 87.49 50.73 55.34 48.00 57.05 74.40 107 36.79 35.57 104 12.69 10.86 Price-to-Free-Cash-Flow
Ratio
-- -- -- -- 62.85 38.99 46.62 50.85 45.44 53.67 58.48 61.51 25.52 24.17 51.57 11.65 10.00 Price-to-Operating-Cash-
Flow Ratio
90.45 723 842 38.13 11.90 11.47 13.87 17.52 16.42 17.16 16.73 15.77 8.99 7.59 5.28 4.87 4.18 PS Ratio
-- -- -- -- -- -- -- -- -- 1.83 1.07 6.50 2.68 3.78 60.33 0.78 0.61 PEG Ratio
64.12 661 895 40.63 11.44 10.81 12.97 16.24 15.35 15.99 15.68 17.37 9.53 7.98 5.66 4.78 4.10 EV-to-Revenue
-4.42 -7.37 -10.45 -30.86 66.23 43.36 42.38 51.29 40.60 44.36 38.00 63.48 27.49 24.80 31.38 9.06 7.74 EV-to-EBITDA
-4.19 -7.09 -10.17 -29.34 79.80 49.80 46.85 55.21 42.99 46.76 40.04 82.85 43.68 43.86 68.75 10.57 9.06 EV-to-EBIT
-23.87 -14.10 -9.83 -3.41 1.25 2.01 2.13 1.81 2.33 2.14 2.50 1.21 2.29 2.28 1.45 9.46 11.03 Return on Capital %
15.09 -1.06 2.90 -8.99 -4.73 -2.64 -0.74 0.26 0.92 20.96 20.92 21.01 21.92 18.32 7.41 16.34 16.75 Forward Rate of Return
-- -- -- -- -- -- -- -- -- 715 306 234 108 83.25 65.93 45.28 38.76 Shiller PE Ratio
Valuation and Quality
Jul04 Jul05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
438 734 1,435 2,838 2,957 4,345 7,371 13,265 18,250 26,172 36,831 43,042 27,406 26,585 21,760 23,934 20,497 Market Cap
296 689 1,394 2,927 2,964 4,180 7,014 12,724 17,410 24,802 35,034 45,228 29,402 28,342 23,403 23,850 20,414 Enterprise Value
3.98 6.51 10.10 18.76 18.10 24.41 40.28 71.50 93.74 133 185 191 122 120 97.36 108 92.58 Month End Stock Price
1.09 0.13 0.05 -0.84 -0.57 0.44 1.14 1.51 1.78 2.94 5.33 -15.30 -14.58 -14.47 -14.33 -15.92 -15.92 Net Cash (per share)
1.17 0.18 0.20 -0.18 0.28 1.55 2.70 3.67 4.38 6.35 9.53 -10.73 -8.85 -7.81 -6.18 -5.41 -5.41 Net Current Asset Value
(per share)
1.09 0.13 0.06 -0.50 -0.07 1.03 2.01 2.72 3.16 4.81 7.41 -12.89 -11.57 -10.98 -10.18 -10.29 -10.29 Net-Net Working Capital (per
share)
-2.72 -4.67 -5.28 -6.77 -4.15 -1.10 1.52 5.99 15.63 25.37 34.99 52.24 60.60 67.49 65.29 85.85 85.85 Projected FCF (per share)
-- -- 0.54 49.41 110 131 147 206 212 169 210 217 230 242 262 316 316 Median PS (per share)
-21.25 -11.43 -13.10 -- -- 43.25 13.55 24.03 33.18 31.50 81.50 19.00 44.25 31.61 -- 139 139 Peter Lynch Fair Value (per
share)
-- -- -- -- 2.29 11.48 7.22 10.31 12.58 14.84 30.11 -- -- -- 4.14 56.07 56.15 Graham Number (per share)
-36.69 -20.65 -15.12 -75.86 -156 -267 -504 -5.36 18.57 28.54 26.88 7.75 11.19 15.37 27.25 47.49 47.49 Earnings Power Value
(EPV)
0.51 -0.44 0.90 4.16 6.92 27.16 30.24 32.17 18.57 18.52 26.74 5.96 4.36 4.23 3.54 3.63 3.38 Altman Z-Score
3.00 -- 2.00 3.00 6.00 7.00 5.00 7.00 7.00 4.00 7.00 3.00 6.00 7.00 6.00 8.00 8.00 Piotroski F-Score
1.39 -3.89 -2.67 38.46 -0.37 -0.08 -2.57 -2.39 -2.17 -2.51 -2.27 -1.89 -2.52 -2.54 -1.93 -2.05 -2.05 Beneish M-Score
0.11 0.07 0.34 0.57 0.76 1.10 0.64 0.59 0.81 0.39 0.45 2.49 0.82 0.80 0.80 0.80 0.76 Scaled Net Operating
Assets
-11.03 -5.44 -22.64 13.23 3.89 33.41 2.51 -4.38 18.05 23.59 5.71 23.32 -3.01 1.81 -5.88 1.77 1.77 Sloan Ratio (%)
14.05 8.14 8.51 5.45 3.28 4.38 4.67 4.13 4.15 3.75 4.61 3.41 3.13 3.10 2.88 4.25 4.25 Current Ratio
14.05 8.14 8.43 4.57 2.69 3.90 4.22 3.77 3.89 3.58 4.32 3.00 2.68 2.62 2.48 3.73 3.73 Quick Ratio
6.38 6.73 11.40 19.95 23.75 24.41 41.17 71.55 118 133 201 208 191 147 139 141 142 Highest Stock Price
3.10 3.39 5.02 8.94 12.74 15.83 22.75 40.67 70.29 83.39 130 146 110 97.70 93.94 94.84 89.70 Lowest Stock Price
-51.04 -2.43 -25.97 -6.49 -8.02 -8.94 -2.80 -1.38 -4.94 -1.16 -1.07 -13.36 0.73 0.76 -0.54 0.98 0.98 Shares Buyback Ratio (%)
342 -81.13 20.00 4,033 190 48.26 36.16 40.49 39.89 35.97 42.37 9.06 12.99 15.61 16.80 20.65 20.57 YoY Rev. per Sh. Growth
(%)
26.08 -13.70 -6.41 38.80 131 736 -68.10 75.00 40.66 -0.78 157 -79.45 163 11.93 -82.23 2,957 3,152 YoY EPS Growth (%)
29.54 -23.80 -9.93 37.93 138 114 67.11 45.44 67.05 29.58 63.06 -27.70 43.21 7.30 -34.49 253 254 YoY EBITDA Growth (%)
33.28 11.78 12.72 -3.16 -- -- -- -- -- 57.56 52.81 38.59 25.80 16.13 4.89 12.98 14.70 EBITDA 5-Y Growth (%)
86.49 111 127 145 155 171 179 183 190 196 198 213 224 224 223 223 221 Shares Outstanding (Basic
Average)
110 113 142 151 163 178 183 186 195 197 199 226 224 222 224 221 221 Shares Outstanding (EOP)
1.25 1.19 1.76 0.73 1.02 0.56 0.62 0.34 0.64 0.69 1.45 1.20 1.05 1.07 1.45 1.92 1.89 Beta
09/28/04 10/11/05 02/23/07 02/29/08 02/23/09 02/23/10 02/17/11 02/17/12 02/19/13 02/10/14 02/06/15 02/08/16 02/16/17 02/08/18 02/06/19 02/04/20 Filing Date
10/11/05 10/11/05 02/29/08 02/29/08 02/17/11 02/17/11 02/19/13 02/10/14 02/06/15 02/08/16 02/16/17 02/08/18 02/06/19 02/04/20 02/04/20 02/04/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALXN 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALXN 7/7
Colgate-Palmolive Co (NYSE:CL) 03/03/2020 2:00PM EST GuruFocus
Price: $ 71.67 -0.77(-1.06%) Market Cap: $ 61.28 B Enterprise Value: $69.32 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 26.07
Cash to Debt 0.10 Operating margin (%) 23.05
Forward P/E N/A
Equity to Asset 0.01 Net-margin (%) 15.08
PE(NRI) 26.07
Interest Coverage 24.94 ROA (%) 17.34
F-Score:
P/B 523.15
ROC (Joel Greenblatt) (%) 92.24
7 P/S 3.93
Z-Score: Revenue Growth (3Y)(%) 2.50
6.47 PFCF 22.05
EBITDA Growth (3Y)(%) -1.10
M-Score: POCF 19.71
-2.53 EPS Growth (3Y)(%) 0.40
EV-to-EBIT 19.84
WACC vs 5.56%
ROIC 42.27% PEG 9.07
WACC
ROIC Shiller P/E 27.67
Current Ratio 1.03
Quick Ratio 0.69
Days Inventory 75.90
Days Sales Outstanding 33.49
Warning Signs Quarterly Revenues Company Description
Price: Close to 10-year high Mar Jun Sep Dec Full Year Since its founding in 1806, Colgate-Palmolive has grown to become a leading global consumer product company. In
addition to its namesake oral care line, the firm manufactures shampoos, shower gels, deodorants, and home care
2016 3,762 3,845 3,867 3,721 15,195 products that are sold in over 200 countries around the world (international sales account for about 70% of its
PB Ratio: Close to 10-year
2017 3,762 3,826 3,974 3,892 15,454 consolidated total, including approximately 50% from emerging regions). It also owns specialty pet food maker Hill's,
high which sells its products through veterinarians and specialty pet retailers.... (Read More)
2018 4,002 3,886 3,845 3,811 15,544
Competitors: BOM:500696 , LSE:RB., NYSE:EL , NYSE:KMB, XTER:HEN, TSE:4452 , XTER:BEI, TSE:4911 ,
Long-Term Debt: Issuing new 2019 3,884 3,866 3,928 4,015 15,693 OSTO:ESSITY B, ISX:UNVR, NYSE:CLX, TSE:8113, XKRX:051900, NYSE:CHD, BSP:NTCO3, BOM:500096,
debt 2020 XKRX:090430, HKSE:01044, BOM:532424, NYSE:COTY
Insider Sell: Insider Selling Quarterly Earnings per Share Insider Trades
Mar Jun Sep Dec Full Year
Good Signs 2016 0.59 0.67 0.78 0.68 2.72
2017 0.64 0.59 0.68 0.37 2.28
Piotroski F-Score: High 2018 0.72 0.73 0.60 0.70 2.75
PE Ratio: Close to 1-year low 2019 0.65 0.68 0.67 0.75 2.75
2020
DCF Quarterly Dividends Per Share
GuruFocus does not Mar Jun Sep Dec Full Year
calculate intrinsic value: DCF 2016 0.38 0.39 0.39 0.39 1.55
(Earnings Based) for 2017 0.39 0.40 0.40 0.40 1.59
companies with one star 2018 0.40 0.42 0.42 0.42 1.66
predictability or not rated. But 2019 0.42 0.43 0.43 0.43 1.71
you can go to each stock's 2020
DCF page to calculate Growth Rate
yourself.
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 1.50 -0.20 2.40
Reverse DCF
EBITDA Growth (%) 1.90 2.90 -2.40
GuruFocus does not
calculate reverse DCF growth Free Cash Flow Growth (%) 2.00 4.10 8.30
rate for companies with one Book Value Growth (%) 0.00 0.00 0.00
star predictability or not rated. EPS Growth (%) 1.40 7.00 0.00
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CL 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9.48 10.47 11.36 12.91 14.33 14.61 15.23 17.00 17.79 18.53 18.69 17.63 16.91 17.41 17.81 18.22 18.23 Revenue per Share
2.25 2.41 2.45 2.85 3.23 3.79 3.79 4.34 4.56 4.38 4.44 3.68 4.82 4.64 4.77 4.66 4.66 EBITDA per Share
1.96 2.11 2.15 2.54 2.91 3.46 3.42 3.91 4.12 3.92 3.96 3.18 4.33 4.10 4.19 4.06 4.06 EBIT per Share
1.17 1.22 1.23 1.60 1.83 2.19 2.16 2.47 2.57 2.38 2.36 1.52 2.72 2.28 2.75 2.75 2.75 Earnings per Share (diluted)
1.17 1.22 1.23 1.60 1.83 2.19 2.16 2.47 2.57 2.38 2.36 1.52 2.72 2.28 2.75 2.75 2.75 eps without NRI
1.34 1.38 1.18 1.67 1.72 2.50 2.21 2.49 2.59 2.28 2.14 1.16 2.68 2.42 2.63 2.90 2.90 Owner Earnings per Share (TTM)
1.26 1.28 1.25 1.52 1.51 2.58 2.60 2.40 2.74 2.70 2.75 2.48 2.84 2.82 3.00 3.25 3.25 Free Cashflow per Share
0.48 0.56 0.63 0.70 0.78 0.86 1.02 1.14 1.22 1.33 1.42 1.50 1.55 1.59 1.66 1.71 1.71 Dividends per Share
0.92 1.06 1.16 2.05 1.74 2.98 2.70 2.47 2.34 2.51 1.26 -0.34 -0.28 -0.07 -0.12 0.14 0.14 Book Value per Share
-1.65 -1.48 -1.68 -1.01 -1.24 -0.18 -0.52 -1.69 -1.93 -1.81 -2.84 -4.20 -4.15 -4.14 -4.95 -7.07 -7.07 Tangible Book per Share
3.47 3.34 3.58 3.45 3.77 3.22 3.46 5.01 5.59 6.15 6.78 7.34 7.40 7.52 7.38 9.90 9.90 Total Debt per Share
25.58 27.43 32.62 38.98 34.27 41.08 40.19 46.20 52.27 65.21 69.19 66.62 65.44 75.45 59.52 68.84 71.67 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
122 102 95.96 92.47 92.99 90.93 76.08 96.28 108 99.73 126 327 -- -- -- 31,560 -- Return on Equity %
16.43 15.73 15.34 18.05 19.48 21.70 19.75 20.35 18.93 16.37 15.89 10.90 20.29 16.32 19.33 17.41 17.34 Return on Assets %
77.27 81.00 80.68 85.64 96.39 109 95.36 100 99.62 86.99 83.32 69.03 99.44 92.01 91.97 91.55 92.24 Return on Capital %
34.87 32.95 34.58 37.42 39.09 44.09 44.02 42.02 40.77 38.25 39.82 36.45 50.85 43.98 48.94 39.57 42.27 Return on Invested Capital %
5.09 6.48 8.79 6.01 5.19 6.43 6.17 4.04 3.54 4.40 6.10 6.93 6.01 6.03 6.24 6.15 5.56 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 2.90 2.53 1.97 1.41 1.59 2.13 2.20 2.10 2.28 2.33 2.98 2.59 2.00 Effective Interest Rate on Debt %
55.15 54.44 54.76 56.18 56.27 58.77 59.14 57.31 58.13 58.56 58.51 58.62 60.04 60.05 59.39 59.42 59.42 Gross Margin %
20.69 20.14 18.91 19.64 20.23 23.59 24.31 22.77 23.21 22.68 23.81 24.30 26.05 24.01 23.71 23.05 23.05 Operating Margin %
12.54 11.86 11.06 12.60 12.77 14.95 14.15 14.53 14.47 12.86 12.62 8.63 16.06 13.10 15.44 15.08 15.08 Net Margin %
13.29 12.24 10.99 11.75 10.55 17.63 17.10 14.10 15.40 14.55 14.71 14.08 16.77 16.18 16.86 17.83 17.83 FCF Margin %
2.95 2.55 2.60 1.54 1.97 1.02 1.28 2.03 2.39 2.45 5.37 -21.90 -26.89 -110 -62.41 72.50 72.50 Debt to Equity
0.14 0.16 0.15 0.23 0.19 0.28 0.24 0.19 0.16 0.17 0.09 -0.03 -0.02 -0.01 -0.01 0.01 0.01 Total Equity to Total Asset
0.42 0.41 0.40 0.35 0.38 0.29 0.31 0.38 0.39 0.41 0.46 0.55 0.54 0.52 0.52 0.56 0.56 Total Debt to Total Asset
72.28 72.24 75.96 80.49 85.87 85.33 82.52 80.26 76.05 74.52 73.67 74.03 75.84 74.84 74.33 68.58 68.31 Gross Profit to Total Asset %
1.31 1.33 1.39 1.43 1.53 1.45 1.40 1.40 1.31 1.27 1.26 1.26 1.26 1.25 1.25 1.15 1.15 Asset Turnover
0.41 0.46 0.51 0.44 0.43 0.39 0.47 0.46 0.48 0.56 0.60 0.99 0.57 0.70 0.60 0.62 0.62 Dividend Payout Ratio
45.52 41.94 45.43 44.49 -- 38.72 37.76 36.53 35.63 34.28 32.79 32.48 33.89 34.96 32.87 33.49 33.49 Days Sales Outstanding
66.46 61.59 68.55 64.44 57.77 67.70 66.86 63.56 65.83 67.90 62.68 61.06 67.57 71.65 70.65 70.90 70.90 Days Accounts Payable
60.12 59.80 61.45 65.83 64.46 69.49 69.76 65.12 68.68 70.53 71.47 70.47 70.66 70.71 71.43 75.95 75.90 Days Inventory
39.18 40.15 38.33 45.88 6.69 40.51 40.66 38.09 38.48 36.91 41.58 41.89 36.98 34.02 33.65 38.54 38.49 Cash Conversion Cycle
6.07 6.10 5.94 5.54 5.66 5.25 5.23 5.61 5.31 5.17 5.11 5.18 5.17 5.16 5.11 4.81 4.81 Inventory Turnover
0.45 0.46 0.45 0.44 0.44 0.41 0.41 0.43 0.42 0.41 0.41 0.41 0.40 0.40 0.41 0.41 0.41 COGS to Revenue
0.07 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CL 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
10,584 11,397 12,238 13,790 15,330 15,327 15,564 16,734 17,085 17,420 17,277 16,034 15,195 15,454 15,544 15,693 15,693 Revenue
4,747 5,192 5,536 6,042 6,704 6,319 6,360 7,144 7,153 7,219 7,168 6,635 6,072 6,174 6,313 6,368 6,368 Cost of Goods Sold
5,837 6,205 6,702 7,747 8,626 9,008 9,204 9,590 9,932 10,201 10,109 9,399 9,123 9,280 9,231 9,325 9,325 Gross Profit
55.15 54.44 54.76 56.18 56.27 58.77 59.14 57.31 58.13 58.56 58.51 58.62 60.04 60.05 59.39 59.42 59.42 Gross Margin %
3,625 3,921 4,355 4,973 5,422 5,282 5,414 5,758 5,930 6,223 5,982 5,464 5,143 5,400 5,389 5,575 5,575 Selling, General, & Admin. Expense
229 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Research & Development
-207 -11.60 32.80 65.70 103 111 7.00 22.00 37.00 27.00 14.00 39.00 22.00 170 157 133 133 Other Operating Expense
2,190 2,296 2,314 2,709 3,101 3,615 3,783 3,810 3,965 3,951 4,113 3,896 3,958 3,710 3,685 3,617 3,617 Operating Income
20.69 20.14 18.91 19.64 20.23 23.59 24.31 22.77 23.21 22.68 23.81 24.30 26.05 24.01 23.71 23.05 23.05 Operating Margin %
-- -- -- -- 10.00 11.00 6.00 6.00 65.00 125 106 107 50.00 51.00 50.00 47.00 -- Interest Income
-- -- -- -- -106 -88.00 -65.00 -58.00 -80.00 -116 -130 -133 -149 -153 -193 -192 -145 Interest Expense
-- -- -- -- -96.00 -77.00 -59.00 -52.00 -15.00 9.00 -24.00 -26.00 -99.00 -102 -143 -145 -145 Net Interest Income
-188 -217 -312 -212 -- -- -294 31.00 -76.00 -395 -556 -1,107 -121 -121 -78.00 -171 -171 Other Income (Expense)
-47.90 -55.30 -57.50 -67.10 -80.00 -106 -110 -123 -159 -169 -159 -164 -145 -150 -158 -160 -160 Other Income (Minority Interest)
2,002 2,079 2,002 2,497 3,005 3,538 3,430 3,789 3,874 3,565 3,533 2,763 3,738 3,487 3,464 3,301 3,301 Pre-Tax Income
-675 -728 -648 -759 -968 -1,141 -1,117 -1,235 -1,243 -1,155 -1,194 -1,215 -1,152 -1,313 -906 -774 -774 Tax Provision
33.72 35.00 32.39 30.41 32.21 32.25 32.57 32.59 32.09 32.40 33.80 43.97 30.82 37.65 26.15 23.45 23.45 Tax Rate %
1,327 1,351 1,353 1,737 2,037 2,397 2,313 2,554 2,631 2,410 2,339 1,548 2,586 2,174 2,558 2,527 2,527 Net Income (Continuing Operations)
1,327 1,351 1,353 1,737 1,957 2,291 2,203 2,431 2,472 2,241 2,180 1,384 2,441 2,024 2,400 2,367 2,367 Net Income
12.54 11.86 11.06 12.60 12.77 14.95 14.15 14.53 14.47 12.86 12.62 8.63 16.06 13.10 15.44 15.08 15.08 Net Margin %
25.90 28.20 28.70 28.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Preferred dividends
1.23 1.27 1.29 1.68 1.91 2.27 2.23 2.49 2.60 2.41 2.38 1.53 2.74 2.30 2.76 2.76 2.75 EPS (Basic)
1.17 1.22 1.23 1.60 1.83 2.19 2.16 2.47 2.57 2.38 2.36 1.52 2.72 2.28 2.75 2.75 2.75 EPS (Diluted)
1,117 1,089 1,077 1,068 1,070 1,049 1,022 984 960 940 924 910 898 888 873 861 857 Shares Outstanding (Diluted
Average)
328 329 329 334 348 351 376 421 425 439 442 449 443 475 511 519 519 Depreciation, Depletion and
Amortization
2,518 2,625 2,642 3,043 3,459 3,977 3,871 4,268 4,379 4,120 4,105 3,345 4,330 4,115 4,168 4,012 4,012 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CL 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
320 341 490 429 555 600 490 878 884 962 1,089 970 1,315 1,535 726 883 883 Cash And Cash Equivalents
320 341 490 429 555 600 490 878 884 962 1,089 970 1,315 1,535 726 883 883 Cash, Cash Equivalents, Marketable
Securities
1,320 1,309 1,523 1,681 -- 1,626 1,610 1,675 1,668 1,636 1,552 1,427 1,411 1,480 1,400 1,440 1,440 Accounts Receivable
212 208 248 258 297 310 295 319 362 340 349 261 266 267 253 -- -- Inventories, Raw Materials &
Components
37.30 37.50 45.40 43.70 41.00 50.00 50.00 54.00 81.00 60.00 55.00 45.00 42.00 42.00 37.00 -- -- Inventories, Work In Process
596 610 715 869 859 849 877 954 922 1,025 978 874 863 912 960 -- -- Inventories, Finished Goods
-- -0.00 -0.00 -- -- -- -- -- -- -- -- -- -- -- -- 1,400 1,400 Inventories, Other
846 856 1,008 1,171 1,197 1,209 1,222 1,327 1,365 1,425 1,382 1,180 1,171 1,221 1,250 1,400 1,400 Total Inventories
255 251 280 338 366 375 408 522 639 908 840 807 441 403 417 456 456 Other Current Assets
2,740 2,757 3,301 3,619 3,710 3,810 3,730 4,402 4,556 4,931 4,863 4,384 4,338 4,639 3,793 4,179 4,179 Total Current Assets
150 135 146 160 151 156 187 240 251 254 250 153 147 159 152 153 153 Land And Improvements
920 897 962 1,059 1,028 1,077 1,319 1,342 1,439 1,625 1,660 1,492 1,544 1,655 1,604 1,600 1,600 Buildings And Improvements
4,382 4,316 4,587 4,919 4,758 5,467 5,654 5,742 6,131 6,451 6,475 6,414 6,251 6,646 6,580 6,827 6,827 Machinery, Furniture, Equipment
5,452 5,347 5,695 6,138 5,937 6,700 7,160 7,324 7,821 8,330 8,385 8,059 7,942 8,460 8,336 8,580 8,580 Gross Property, Plant and Equipment
-2,804 -2,803 -2,999 -3,123 -2,818 -3,184 -3,467 -3,656 -3,979 -4,247 -4,305 -4,263 -4,102 -4,388 -4,455 -4,830 -4,830 Accumulated Depreciation
2,648 2,544 2,696 3,015 3,119 3,516 3,693 3,668 3,842 4,083 4,080 3,796 3,840 4,072 3,881 3,750 3,750 Property, Plant and Equipment
2,724 2,629 2,913 3,117 2,986 3,123 3,193 3,998 3,999 3,970 3,720 3,449 3,420 3,559 4,167 6,175 6,175 Intangible Assets
-- 1,846 2,082 2,272 2,152 2,302 2,362 2,494 2,500 2,474 2,307 2,103 2,107 2,218 2,530 3,508 3,508 Goodwill
561 577 228 362 164 685 556 656 997 1,001 796 306 525 406 320 930 930 Other Long Term Assets
8,673 8,507 9,138 10,112 9,979 11,134 11,172 12,724 13,394 13,985 13,459 11,935 12,123 12,676 12,161 15,034 15,034 Total Assets
864 876 1,040 1,067 1,061 1,172 1,165 1,244 1,290 1,343 1,231 1,110 1,124 1,212 1,222 1,237 1,237 Accounts Payable
-- -- -- -- 272 387 272 427 302 370 416 398 553 477 538 474 474 Total Tax Payable
2,145 2,215 2,518 2,869 2,754 3,238 3,119 3,246 3,336 3,566 3,348 3,153 3,208 3,296 3,236 3,309 3,309 Accounts Payable & Accrued
Expense
586 528 951 294 198 361 609 380 304 908 504 302 13.00 11.00 12.00 659 659 Current Portion of Long-Term Debt
-- -- -0.00 -- -- -- -- 90.00 96.00 105 94.00 79.00 84.00 101 93.00 70.00 70.00 Other Current Liabilities
2,731 2,743 3,469 3,163 2,952 3,599 3,728 3,716 3,736 4,579 3,946 3,534 3,305 3,408 3,341 4,038 4,038 Total Current Liabilities
3,090 2,918 2,720 3,222 3,585 2,821 2,815 4,430 4,926 4,749 5,644 6,246 6,520 6,566 6,354 7,333 7,333 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 491 491 Capital Lease Obligation
3,090 2,918 2,720 3,222 3,585 2,821 2,815 4,430 4,926 4,749 5,644 6,246 6,520 6,566 6,354 7,824 7,824 Long-Term Debt & Capital Lease
Obligation
2.95 2.55 2.60 1.54 1.97 1.02 1.28 2.03 2.39 2.45 5.37 -21.90 -26.89 -110 -62.41 72.50 72.50 Debt to Equity
-- -- -- -- -- -- -- 1,582 1,786 1,387 1,886 1,650 1,794 1,724 1,600 1,728 1,728 PensionAndRetirementBenefit
510 555 310 264 82.00 1,457 1,812 252 293 444 261 233 246 204 235 507 507 NonCurrent Deferred Liabilities
-- -- -- 110 121 141 142 166 201 231 240 255 260 303 299 441 441 Minority Interest
1,098 941 1,228 1,067 1,316 -- -- 203 263 290 337 316 241 531 434 379 379 Other Long-Term Liabilities
7,428 7,157 7,727 7,716 7,935 7,877 8,355 10,183 11,004 11,449 12,074 11,979 12,106 12,433 11,964 14,476 14,476 Total Liabilities
733 733 733 733 733 733 733 733 1,466 1,466 1,466 1,466 1,466 1,466 1,466 1,466 1,466 Common Stock
274 254 223 198 181 169 -- -- -- -- -- -- -- -- -- -- Preferred Stock
--
8,224 8,968 9,644 10,628 11,760 13,157 14,329 15,649 16,953 17,952 18,832 18,861 19,922 20,531 21,615 22,501 22,501 Retained Earnings
-2,114 -2,088 -2,333 -1,886 -2,477 -2,096 -2,115 -2,475 -2,621 -2,451 -3,507 -3,950 -4,180 -3,855 -4,188 -4,273 -4,273 Accumulated other comprehensive
income (loss)
1,094 1,064 1,218 1,518 1,610 1,764 1,132 1,336 818 1,004 1,236 1,438 1,691 1,984 2,204 2,488 2,488 Additional Paid-In Capital
-6,965 -7,581 -8,074 -8,904 -9,697 -10,478 -11,305 -12,808 -14,386 -15,633 -16,862 -18,102 -19,135 -20,181 -21,196 -22,063 -22,063 Treasury Stock
1,245 1,350 1,411 2,286 1,923 3,116 2,675 2,375 2,189 2,305 1,145 -299 -243 -60.00 -102 117 117 Total Equity
0.14 0.16 0.15 0.23 0.19 0.28 0.24 0.19 0.16 0.17 0.09 -0.03 -0.02 -0.01 -0.01 0.01 0.01 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CL 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,327 1,351 1,353 1,737 1,957 2,397 2,313 2,554 2,631 2,410 2,339 1,548 2,586 2,174 2,558 2,527 2,527 Net Income
1,327 1,351 1,353 1,737 1,957 2,397 2,313 2,554 2,631 2,410 2,339 1,548 2,586 2,174 2,558 2,527 2,527 Net Income From Continuing
Operations
328 329 329 334 348 351 376 421 425 439 442 449 443 475 511 519 519 Depreciation, Depletion and
Amortization
-5.60 -24.10 -116 -66.50 -70.00 57.00 40.00 -130 19.00 -37.00 -109 -75.00 -17.00 -15.00 -79.00 19.00 19.00 Change In Receivables
-76.10 -46.80 -119 -112 -135 44.00 -10.00 -130 -21.00 -97.00 -60.00 -13.00 -4.00 -8.00 -58.00 -77.00 -77.00 Change In Inventory
80.10 153 150 366 125 294 -65.00 199 -5.00 24.00 57.00 -67.00 100.00 -96.00 18.00 36.00 36.00 Change In Payables And Accrued
Expense
58.50 98.90 -76.40 197 -47.00 458 100.00 -7.00 23.00 -97.00 -87.00 -122 92.00 -115 -155 65.00 65.00 Change In Working Capital
57.70 30.80 -- -147 -6.00 -23.00 29.00 88.00 63.00 71.00 18.00 -51.00 56.00 383 107 17.0017.00 Change In DeferredTax
-- -- -- -- 100.00 117 121 122 120 128 131 125 123 127 109 100.00 100.00 Stock Based Compensation
-16.80 -26.00 216 83.00 -50.00 -23.00 272 -282 -66.00 253 455 1,000 -159 10.00 -74.00 -95.00 -95.00 Cash Flow from Others
1,754 1,784 1,822 2,204 2,302 3,277 3,211 2,896 3,196 3,204 3,298 2,949 3,141 3,054 3,056 3,133 3,133 Cash Flow from Operations
-348 -389 -476 -583 -684 -575 -550 -537 -565 -670 -757 -691 -593 -553 -436 -335 -335 Purchase Of Property, Plant,
Equipment
37.00 216 55.00 110 58.00 17.00 42.00 263 72.00 15.00 24.00 9.00 60.00 44.00 1.00 1.00 -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -966 -29.00 -3.00 -87.00 -13.00 -5.00 -- -728 -1,711 -- Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- 221 -- -- -- -- -- Sale Of Business
-128 -20.00 -1.20 -11.00 -- -289 -308 -356 -545 -505 -340 -742 -336 -347 -169 -184 -184 Purchase Of Investment
147 10.00 -- -- 10.00 -- 167 423 147 267 283 599 378 391 156 131 -- Sale Of Investment
-- 1.40 2.20 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-799 -38.50 -200 -43.90 3.00 6.00 -9.00 -40.00 55.00 6.00 18.00 -68.00 -3.00 -6.00 6.00 -1.00 -1,580 Cash From Other Investing Activities
-1,090 -221 -620 -528 -613 -841 -658 -1,213 -865 -890 -859 -685 -499 -471 -1,170 -2,099 -2,099 Cash Flow from Investing
70.40 47.10 364 489 -- -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-638 -796 -885 -1,269 -1,073 -1,063 -2,020 -1,806 -1,943 -1,521 -1,530 -1,551 -1,335 -1,399 -1,238 -1,202 -1,202 Repurchase of Stock
493 -168 139 -225 195 -526 296 1,414 441 422 435 421 164 -29.00 -179 1,448 1,448 Net Issuance of Debt
-536 -607 -678 -750 -889 -981 -1,142 -1,203 -1,277 -1,382 -1,446 -1,493 -1,508 -1,529 -1,591 -1,614 -1,614 Cash Flow for Dividends
-- -- -- -- 237 300 242 353 478 339 371 347 446 507 329 498 498 Other Financing
-611 -1,524 -1,059 -1,754 -1,530 -2,270 -2,624 -1,242 -2,301 -2,142 -2,170 -2,276 -2,233 -2,450 -2,679 -870 -870 Cash Flow from Financing
54.30 21.10 149 -60.80 126 45.00 -110 388 6.00 78.00 127 -119 345 220 -809 157 157 Net Change in Cash
-348 -389 -476 -583 -684 -575 -550 -537 -565 -670 -757 -691 -593 -553 -436 -335 -335 Capital Expenditure
1,406 1,395 1,345 1,621 1,618 2,702 2,661 2,359 2,631 2,534 2,541 2,258 2,548 2,501 2,620 2,798 2,798 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CL 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
21.96 22.58 26.52 24.44 18.73 18.80 18.65 18.70 20.38 27.40 29.32 44.12 24.06 33.09 21.64 25.03 26.07 PE Ratio(TTM)
19.16 19.93 27.60 23.36 19.89 16.43 18.17 18.58 20.17 28.60 32.29 57.38 24.39 31.14 22.60 23.78 24.75 Price to Owner Earnings
(TTM)
27.93 25.83 28.14 19.02 19.73 13.78 14.87 18.67 22.35 26.02 54.78 -- -- -- -- 502 523 Price to Book
20.32 21.41 26.08 25.78 22.70 15.95 15.40 19.27 19.06 24.18 25.16 26.84 23.07 26.77 19.81 21.18 22.05 Price-to-Free-Cash-Flow
Ratio
16.28 16.75 19.27 18.95 15.93 13.15 12.75 15.69 15.68 19.12 19.38 20.54 18.71 21.93 16.99 18.91 19.71 Price-to-Operating-Cash-
Flow Ratio
2.70 2.62 2.87 3.03 2.39 2.81 2.64 2.72 2.94 3.52 3.70 3.78 3.87 4.33 3.34 3.78 3.93 PS Ratio
2.01 2.73 4.88 4.17 2.40 1.65 1.59 1.65 2.08 4.16 8.40 30.43 -- 75.20 9.58 10.52 9.07 PEG Ratio
2.91 2.78 3.01 3.13 2.47 2.84 2.75 2.90 3.13 3.73 3.94 4.07 4.16 4.62 3.69 4.27 4.41 EV-to-Revenue
12.22 12.07 13.95 14.18 10.95 10.94 11.07 11.35 12.21 15.76 16.57 19.52 14.61 17.34 13.75 16.71 17.27 EV-to-EBITDA
14.04 13.80 15.93 15.92 12.18 11.99 12.26 12.59 13.52 17.64 18.57 22.55 16.28 19.60 15.67 19.19 19.84 EV-to-EBIT
7.12 7.25 6.28 6.28 8.21 8.34 8.16 7.94 7.40 5.67 5.39 4.43 6.14 5.10 6.38 5.21 5.04 Return on Capital %
15.19 12.56 9.19 9.18 11.79 15.28 16.35 15.82 14.20 10.45 7.30 5.40 2.32 4.09 6.91 6.56 6.35 Forward Rate of Return
29.78 27.66 30.11 32.08 26.20 28.05 25.14 26.14 27.30 32.10 32.63 31.08 28.33 31.22 23.57 26.58 27.67 Shiller PE Ratio
1.88 2.02 1.92 1.80 2.28 2.09 2.53 2.46 2.33 2.04 2.05 2.25 2.37 2.11 2.79 2.48 2.39 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
27,129 28,317 33,446 39,741 34,360 40,601 39,780 44,354 48,911 59,990 62,735 59,474 57,791 65,996 51,361 58,999 61,280 Market Cap
30,759 31,676 36,850 43,135 37,890 43,493 42,856 48,452 53,458 64,916 68,034 65,307 63,269 71,341 57,300 67,040 69,321 Enterprise Value
25.58 27.43 32.62 38.98 34.27 41.08 40.19 46.20 52.27 65.21 69.19 66.62 65.44 75.45 59.52 68.84 71.67 Month End Stock Price
-6.70 -6.60 -7.06 -7.26 -7.48 -7.51 -8.09 -9.87 -11.03 -11.65 -12.38 -12.62 -12.51 -12.81 -13.37 -16.37 -16.37 Net Cash (per share)
-4.68 -4.51 -4.53 -4.32 -4.52 -4.43 -4.82 -6.19 -7.11 -7.34 -8.22 -8.79 -9.09 -9.26 -9.82 -12.53 -12.53 Net Current Asset Value
(per share)
-5.63 -5.48 -5.67 -5.64 -7.06 -5.83 -6.25 -7.87 -8.96 -9.54 -10.33 -10.76 -10.65 -10.84 -11.43 -14.30 -14.30 Net-Net Working Capital (per
share)
13.89 15.67 15.97 18.47 19.74 24.22 26.83 28.99 30.24 30.58 30.28 25.90 26.08 26.88 27.31 28.37 28.37 Projected FCF (per share)
30.01 33.13 35.98 40.89 45.40 43.60 44.14 48.01 50.03 52.12 53.03 51.37 50.64 54.50 61.22 65.36 65.36 Median PS (per share)
12.76 10.05 6.69 9.35 14.31 24.82 25.26 28.06 25.09 15.66 -- -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
13.59 15.19 16.11 17.82 18.72 21.83 25.02 27.44 29.86 31.67 32.06 39.12 40.01 39.29 39.78 39.18 39.18 Earnings Power Value
(EPV)
5.50 6.00 6.11 6.79 6.90 7.22 7.09 6.71 6.75 7.06 7.31 7.39 7.57 7.72 7.37 6.35 6.47 Altman Z-Score
6.00 6.00 8.00 8.00 7.00 8.00 5.00 8.00 6.00 6.00 5.00 6.00 8.00 8.00 6.00 7.00 7.00 Piotroski F-Score
-2.57 -2.72 -2.56 -2.57 -3.51 -2.83 -2.93 -2.62 -2.74 -2.85 -2.96 -3.25 -2.75 -2.78 -2.69 -2.53 -2.53 Beneish M-Score
0.62 0.51 0.54 0.60 0.52 0.59 0.52 0.58 0.53 0.54 0.46 0.41 0.44 0.44 0.46 0.67 0.54 Scaled Net Operating
Assets
7.65 -2.50 1.67 0.61 2.69 -1.30 -3.13 5.88 1.05 -0.52 -1.92 -7.37 -1.66 -4.41 4.23 8.87 8.87 Sloan Ratio (%)
1.00 1.01 0.95 1.14 1.26 1.06 1.00 1.18 1.22 1.08 1.23 1.24 1.31 1.36 1.14 1.03 1.03 Current Ratio
0.69 0.69 0.66 0.77 0.85 0.72 0.67 0.83 0.85 0.77 0.88 0.91 0.96 1.00 0.76 0.69 0.69 Quick Ratio
29.46 28.20 33.42 40.32 40.49 43.16 42.91 46.98 55.31 66.26 71.00 71.46 75.27 77.23 77.50 75.57 77.41 Highest Stock Price
21.53 24.28 26.85 32.22 27.39 27.53 36.88 37.97 44.13 52.27 60.17 60.37 62.45 64.53 57.88 58.97 64.75 Lowest Stock Price
1.29 2.66 0.68 0.57 1.66 1.43 -0.15 3.01 2.53 1.69 1.44 1.54 1.08 0.95 1.35 0.68 0.68 Shares Buyback Ratio (%)
8.57 10.44 8.58 13.59 11.00 1.96 4.27 11.63 4.64 4.16 0.85 -5.70 -4.05 2.92 2.29 2.35 2.39 YoY Rev. per Sh. Growth
(%)
-5.28 4.29 1.23 30.08 14.38 19.40 -1.37 14.62 4.05 -7.39 -0.84 -35.59 78.95 -16.18 20.61 -- -- YoY EPS Growth (%)
0.67 6.92 1.78 16.10 13.52 17.26 -0.08 14.49 5.16 -3.90 1.32 -17.20 31.09 -3.84 3.00 -2.41 -2.35 YoY EBITDA Growth (%)
10.95 8.27 5.44 5.86 7.82 11.36 11.72 11.36 9.78 6.58 3.49 1.45 -1.80 0.44 2.26 2.38 2.90 EBITDA 5-Y Growth (%)
1,062 1,042 1,031 1,021 1,013 999 976 977 952 931 915 902 892 882 871 859 856 Shares Outstanding (Basic
Average)
1,061 1,032 1,025 1,020 1,003 988 990 960 936 920 907 893 883 875 863 857 857 Shares Outstanding (EOP)
0.25 0.49 0.84 0.42 0.55 0.50 0.51 0.39 0.35 0.29 0.75 0.89 0.68 0.69 0.69 0.80 0.81 Beta
02/25/05 02/24/06 02/23/07 02/28/08 02/27/09 02/25/10 02/24/11 02/23/12 02/21/13 02/20/14 02/19/15 02/18/16 02/23/17 02/15/18 02/21/19 02/21/20 Filing Date
02/24/06 02/23/07 02/23/07 02/28/08 02/25/10 02/24/11 02/21/13 02/20/14 02/19/15 02/18/16 02/23/17 02/15/18 02/21/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CL 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CL 7/7
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HRS 1/1
Nasdaq Inc (NAS:NDAQ) 03/03/2020 2:00PM EST GuruFocus
Price: $ 110.21 +0.09(+0.08%) Market Cap: $ 18.19 B Enterprise Value: $21.28 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 23.81
Cash to Debt 0.17 Operating margin (%) 25.46
Forward P/E N/A
Equity to Asset 0.41 Net-margin (%) 18.16
PE(NRI) 23.81
Interest Coverage 9.43 ROE (%) 14.09
F-Score:
P/B 3.20
ROA (%) 5.43
7 P/S 4.32
Z-Score: ROC (Joel Greenblatt) (%) 170.99
2.40 PFCF 22.02
Revenue Growth (3Y)(%) 5.20
M-Score: POCF 19.11
-2.30 EBITDA Growth (3Y)(%) 45.80
EV-to-EBIT 18.75
WACC vs 4.33% EPS Growth (3Y)(%) 94.40
ROIC 9.51% PEG 1.56
WACC
ROIC Shiller P/E 40.33
Current Ratio 1.01
Quick Ratio 1.01
Days Sales Outstanding 36.15
Warning Signs Quarterly Revenues Company Description
Altman Z-Score: Grey Mar Jun Sep Dec Full Year Nasdaq is primarily known for its equity exchange, but in addition to its market services business (around 36% of
sales), the company sells and distributes exchange data through its information services segment (24%). Information
2016 905 897 929 972 3,703 services offers Nasdaq-branded indexes to asset managers and investors. Nasdaq's corporate services business
Revenue per Share: Growth
2017 969 994 965 1,019 3,947 (27%) offers listing services and related investor relations products to publicly traded companies. Through the
slow down company's market technology group (13%), Nasdaq facilitates the exchange operations of other exchanges
2018 1,151 1,027 964 1,136 4,278 throughout the world.... (Read More)
Dividend Yield %: Close to 3- 2019 1,039 1,061 1,096 1,065 4,261 Competitors: BSP:B3SA3 , BATS:CBOE, NYSE:MSCI, NYSE:FDS, ASX:ASX, TSE:8697 , SGX:S68 ,
year low 2020 NAS:MORN, XTER:DB1, XPAR:ENX, TSX:X, MIC:MOEX, XMAD:BME, SHSE:601519, DFM:DFM, MIL:CERV,
BOM:500092, LSE:ERM, MEX:BOLSAA, XKLS:1818
Price: Close to 10-year high Quarterly Earnings per Share
Insider Trades
PB Ratio: Close to 10-year Mar Jun Sep Dec Full Year
high 2016 0.78 0.42 0.77 -1.35 0.62
2017 0.99 0.87 1.00 1.45 4.31
PS Ratio: Close to 10-year
2018 1.05 0.97 0.97 -0.27 2.72
high
2019 1.48 1.04 0.90 1.21 4.63
Insider Sell: Insider Selling 2020
Quarterly Dividends Per Share
Good Signs Mar Jun Sep Dec Full Year
Piotroski F-Score: High 2016 0.25 0.32 0.32 0.32 1.21
2017 0.32 0.38 0.38 0.38 1.46
Operating Margin %: 2018 0.38 0.44 0.44 0.44 1.70
Expansion 2019 0.44 0.47 0.47 0.47 1.85
PE Ratio: Close to 1-year low 2020
Growth Rate
DCF Annual Rates(per share) 10-Y 5-Y 12-M
EPS without NRI: $4.63 Revenue Growth (%) 5.00 5.80 0.10
Growth Rate in the next 10 EBITDA Growth (%) 8.60 15.30 -6.00
years: 7.40%
Free Cash Flow Growth (%) 9.10 13.30 -8.40
Terminal Growth Rate for 10
years: 4% Book Value Growth (%) 3.10 3.10 4.30
Fair Value: $57.74 EPS Growth (%) 7.40 17.00 69.60
Reverse DCF
Expected eps Growth Rate:
17.29%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NDAQ 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5.92 9.10 12.98 16.26 17.85 15.90 15.45 19.10 18.08 18.75 20.23 19.87 21.94 23.28 25.51 25.53 25.52 Revenue per Share
0.93 1.88 2.23 2.70 3.44 2.78 3.54 4.45 4.34 4.81 4.86 5.10 2.56 7.05 8.43 7.93 7.93 EBITDA per Share
0.09 1.18 1.68 2.44 2.98 2.30 3.04 3.84 3.74 4.09 4.07 4.30 1.55 5.94 7.18 6.79 6.79 EBIT per Share
-0.02 0.57 0.95 3.46 1.55 1.25 1.91 2.15 2.04 2.25 2.39 2.50 0.63 4.30 2.73 4.63 4.63 Earnings per Share (diluted)
-0.14 0.57 0.95 3.46 1.55 1.25 1.91 2.15 2.04 2.25 2.39 2.50 0.63 4.30 2.73 4.63 4.63 eps without NRI
0.21 0.52 1.52 3.44 0.39 1.78 1.54 3.00 2.41 2.74 2.32 2.54 -0.10 4.16 5.95 5.00 5.00 Owner Earnings per Share (TTM)
1.00 0.99 1.41 1.03 0.79 2.44 1.93 3.23 2.90 2.68 2.84 3.47 3.80 4.51 5.47 5.01 5.01 Free Cashflow per Share
-- -- -- -- -- -- -- -- 0.39 0.52 0.58 0.90 1.21 1.46 1.70 1.85 1.85 Dividends per Share
0.34 1.90 12.98 15.88 21.23 23.33 26.84 28.67 31.45 36.52 34.32 34.13 32.60 34.49 32.99 34.40 34.40 Book Value per Share
-1.97 -12.26 2.04 7.52 -8.86 -7.09 -12.11 -9.99 -10.73 -14.10 -10.79 -10.62 -16.15 -18.62 -19.46 -18.16 -18.16 Tangible Book per Share
3.36 14.34 13.39 0.85 12.50 9.90 13.20 12.20 11.93 15.55 13.61 14.39 21.63 24.67 23.20 22.68 22.68 Total Debt per Share
10.20 35.18 30.79 49.49 24.71 19.82 23.73 24.51 24.99 39.80 47.96 58.17 67.12 76.83 81.57 107 110 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-1.15 26.90 14.18 28.28 9.67 5.77 8.17 7.98 6.91 6.76 6.91 7.51 1.92 12.89 8.09 13.96 14.09 Return on Equity %
1.36 4.31 4.44 15.48 3.99 2.27 2.93 2.55 3.03 3.55 3.36 3.58 0.82 4.94 2.95 5.23 5.43 Return on Assets %
3.93 76.69 228 563 493 284 383 388 319 293 251 239 76.50 222 262 205 171 Return on Capital %
5.05 10.46 12.16 23.73 11.79 6.75 7.44 7.67 7.35 6.65 7.39 8.17 9.58 9.69 5.03 9.59 9.51 Return on Invested Capital %
5.64 8.33 16.47 16.36 8.52 6.59 6.55 5.92 6.92 7.77 7.16 6.64 5.56 5.70 5.29 4.95 4.33 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 7.34 4.42 4.62 5.36 4.74 4.38 4.46 4.55 4.32 3.46 3.48 3.05 3.01 Effective Interest Rate on Debt %
89.67 59.78 41.46 33.34 40.00 42.60 47.51 49.16 53.65 59.02 59.06 61.42 61.45 61.07 59.06 59.48 59.49 Gross Margin %
1.51 12.92 12.91 15.01 19.01 18.18 19.90 21.35 23.65 23.76 23.86 26.51 25.73 26.22 24.53 25.48 25.46 Operating Margin %
2.10 7.01 7.71 21.28 8.60 7.80 12.38 11.26 11.28 11.99 11.83 12.58 2.86 18.47 10.71 18.16 18.16 Net Margin %
16.84 10.85 10.86 6.35 4.41 15.33 12.47 16.90 16.06 14.29 14.06 17.46 17.33 19.38 21.44 19.62 19.62 FCF Margin %
1.69 4.71 1.03 0.05 0.59 0.42 0.49 0.43 0.38 0.43 0.40 0.42 0.66 0.72 0.70 0.66 0.66 Debt to Equity
0.19 0.12 0.39 0.74 0.34 0.46 0.29 0.35 0.57 0.49 0.48 0.47 0.38 0.38 0.35 0.41 0.41 Total Equity to Total Asset
0.33 0.58 0.41 0.04 0.20 0.20 0.14 0.15 0.22 0.21 0.19 0.20 0.26 0.27 0.24 0.27 0.27 Total Debt to Total Asset
58.17 36.76 23.85 24.26 18.56 12.38 11.26 11.16 14.42 17.46 16.77 17.47 17.50 16.34 16.27 17.11 17.79 Gross Profit to Total Asset %
0.65 0.62 0.58 0.73 0.46 0.29 0.24 0.23 0.27 0.30 0.28 0.28 0.29 0.27 0.28 0.29 0.30 Asset Turnover
-- -- -- -- -- -- -- -- 0.19 0.23 0.24 0.36 1.92 0.34 0.62 0.40 0.40 Dividend Payout Ratio
70.41 86.13 51.36 37.38 -- -- -- 32.70 38.96 44.67 40.57 33.89 42.27 32.91 32.77 36.14 36.15 Days Sales Outstanding
263 123 64.23 49.14 -- -- -- 34.24 43.42 63.24 48.14 43.92 44.73 42.03 41.27 31.28 31.30 Days Accounts Payable
-192 -36.48 -12.87 -11.76 -- -- -- -1.54 -4.46 -18.57 -7.57 -10.03 -2.46 -9.12 -8.50 4.86 4.85 Cash Conversion Cycle
0.10 0.40 0.59 0.67 0.60 0.57 0.52 0.51 0.46 0.41 0.41 0.39 0.39 0.39 0.41 0.41 0.41 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NDAQ 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
540 880 1,658 2,437 3,650 3,411 3,191 3,438 3,120 3,211 3,500 3,403 3,704 3,948 4,277 4,262 4,261 Revenue
55.85 354 970 1,624 2,190 1,958 1,675 1,748 1,446 1,316 1,433 1,313 1,428 1,537 1,751 1,727 1,726 Cost of Goods Sold
485 526 687 812 1,460 1,453 1,516 1,690 1,674 1,895 2,067 2,090 2,276 2,411 2,526 2,535 2,535 Gross Profit
89.67 59.78 41.46 33.34 40.00 42.60 47.51 49.16 53.65 59.02 59.06 61.42 61.45 61.07 59.06 59.48 59.49 Gross Margin %
354 304 402 408 673 729 743 812 798 980 1,068 1,023 1,118 1,155 1,235 1,228 1,229 Selling, General, & Admin. Expense
122 109 70.92 38.89 93.00 104 138 144 138 152 164 165 205 221 242 221 221 Other Operating Expense
8.18 114 214 366 694 620 635 734 738 763 835 902 953 1,035 1,049 1,086 1,085 Operating Income
1.51 12.92 12.91 15.01 19.01 18.18 19.90 21.35 23.65 23.76 23.86 26.51 25.73 26.22 24.53 25.48 25.46 Operating Margin %
-- -- -- -- 35.00 13.00 9.00 11.00 10.00 9.00 6.00 4.00 5.00 7.00 10.00 10.00 11.00 Interest Income
-- -- -- -- -97.00 -102 -102 -119 -97.00 -101 -110 -106 -129 -135 -140 -115 -115 Interest Expense
-- -- -- -- -62.00 -89.00 -93.00 -108 -87.00 -102 -111 -107 -130 -136 -140 -114 -113 Net Interest Income
-5.63 -7.40 -0.94 428 -119 -140 -16.00 -53.00 -103 -61.00 -130 -165 -690 -27.00 155 47.00 47.00 Other Income (Expense)
-- 0.20 0.90 0.10 -1.00 3.00 6.00 4.00 3.00 1.00 1.00 1.00 -- -- -- -- -- Other Income (Minority Interest)
2.55 106 213 794 513 391 526 573 548 600 594 630 133 872 1,064 1,019 1,019 Pre-Tax Income
-0.75 -44.57 -85.25 -276 -198 -128 -137 -190 -199 -216 -181 -203 -27.00 -143 -606 -245 -245 Tax Provision
29.34 41.95 40.00 34.70 38.60 32.74 26.05 33.16 36.31 36.00 30.47 32.22 20.30 16.40 56.95 24.04 24.04 Tax Rate %
1.80 61.69 128 518 315 263 389 383 349 384 413 427 106 729 458 774 774 Net Income (Continuing Operations)
9.56 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
11.36 61.69 128 518 314 266 395 387 352 385 414 428 106 729 458 774 774 Net Income
2.10 7.01 7.71 21.28 8.60 7.80 12.38 11.26 11.28 11.99 11.83 12.58 2.86 18.47 10.71 18.16 18.16 Net Margin %
13.19 6.60 6.60 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Preferred dividends
-0.02 0.68 1.22 4.47 1.65 1.30 1.94 2.20 2.09 2.30 2.45 2.56 0.64 4.38 2.77 4.69 4.68 EPS (Basic)
-0.02 0.57 0.95 3.46 1.55 1.25 1.91 2.15 2.04 2.25 2.39 2.50 0.63 4.30 2.73 4.63 4.63 EPS (Diluted)
91.30 96.65 128 150 205 215 207 180 173 171 173 171 169 170 168 167 167 Shares Outstanding (Diluted
Average)
76.34 68.34 70.92 38.89 93.00 104 103 109 104 122 137 138 170 188 210 190 190 Depreciation, Depletion and
Amortization
84.52 182 285 405 703 597 731 801 749 823 841 874 432 1,195 1,414 1,324 1,324 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NDAQ 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
58.19 165 322 1,325 374 594 315 506 497 398 427 301 403 377 545 332 332 Cash And Cash Equivalents
204 179 1,628 -- 227 308 253 279 223 189 174 201 245 235 268 291 291 Marketable Securities
262 345 1,950 1,325 601 902 568 785 720 587 601 502 648 612 813 623 623 Cash, Cash Equivalents, Marketable
Securities
104 208 233 250 -- -- -- 308 333 393 389 316 429 356 384 422 422 Accounts Receivable
37.01 44.72 129 107 4,488 2,167 7,644 5,488 439 2,183 2,410 2,442 3,483 4,542 5,173 3,245 3,245 Other Current Assets
406 597 2,313 1,682 5,428 3,370 8,510 6,581 1,492 3,163 3,400 3,260 4,560 5,510 6,370 4,290 4,290 Total Current Assets
97.32 60.92 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Land And Improvements
345 296 224 209 258 313 348 585 612 727 760 830 919 905 800 870 870 Machinery, Furniture, Equipment
443 356 224 209 423 491 528 585 612 727 760 830 919 905 800 1,216 1,216 Gross Property, Plant and Equipment
-269 -234 -159 -144 -240 -327 -364 -392 -401 -459 -468 -507 -557 -505 -424 -486 -486 Accumulated Depreciation
174 123 65.27 64.52 183 164 164 193 211 268 292 323 362 400 376 730 730 Property, Plant and Equipment
182 1,177 1,228 1,162 6,075 6,431 6,846 6,709 6,985 8,572 7,615 7,354 8,121 9,054 8,663 8,615 8,615 Intangible Assets
-- -- 1,029 981 4,492 4,800 5,127 5,061 5,335 6,186 5,538 5,395 6,027 6,586 6,363 6,366 6,366 Goodwill
52.61 150 110 70.51 1,066 757 687 608 444 574 764 924 1,107 390 291 289 289 Other Long Term Assets
815 2,047 3,716 2,979 12,752 10,722 16,207 14,091 9,132 12,577 12,071 11,861 14,150 15,354 15,700 13,924 13,924 Total Assets
40.18 119 171 219 -- -- -- 164 172 228 189 158 175 177 198 148 148 Accounts Payable
132 236 298 308 613 376 346 402 380 464 456 427 490 475 506 468 468 Accounts Payable & Accrued
Expense
-- 7.50 10.68 -- 225 225 140 45.00 136 45.00 -- -- -- 480 875 391 391 Current Portion of Long-Term Debt
59.54 53.59 56.45 60.54 98.00 105 122 124 139 151 177 127 162 161 194 211 211 Current Deferred Revenue
-- -- 94.99 8.81 19.00 23.00 26.00 27.00 35.00 38.00 37.00 -- -- -- -- -- -- Current Deferred Taxes Liabilities
59.54 53.59 151 69.34 117 128 148 151 174 189 214 127 162 161 194 211 211 DeferredTaxAndRevenue
16.75 28.22 0.00 34.14 4,122 2,125 7,597 5,440 328 2,102 2,310 2,366 3,430 4,118 4,995 3,157 3,157 Other Current Liabilities
208 325 461 411 5,077 2,854 8,231 6,038 1,018 2,800 2,980 2,920 4,082 5,234 6,570 4,227 4,227 Total Current Liabilities
265 1,185 1,493 118 2,299 1,867 2,181 2,072 1,840 2,589 2,297 2,364 3,603 3,727 2,956 2,996 2,996 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 331 331 Capital Lease Obligation
265 1,185 1,493 118 2,299 1,867 2,181 2,072 1,840 2,589 2,297 2,364 3,603 3,727 2,956 3,327 3,327 Long-Term Debt & Capital Lease
Obligation
1.69 4.71 1.03 0.05 0.59 0.42 0.49 0.43 0.38 0.43 0.40 0.42 0.66 0.72 0.70 0.66 0.66 Debt to Equity
29.51 95.15 116 91.81 851 843 868 824 869 851 841 826 891 351 501 552 552 NonCurrent Deferred Liabilities
-- 1.00 0.10 -- 17.00 12.00 11.00 10.00 1.00 -- 1.00 -- -- -- -- -- -- Minority Interest
155 187 190 150 222 214 198 171 196 153 159 142 144 162 224 179 179 Other Long-Term Liabilities
658 1,793 2,259 771 8,449 5,778 11,478 9,105 3,923 6,393 6,277 6,252 8,720 9,474 10,251 8,285 8,285 Total Liabilities
1.31 1.31 1.31 1.39 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 Common Stock
130 95.02 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Preferred Stock
331 386 513 1,030 1,344 1,610 2,004 2,391 2,678 2,976 3,292 3,571 3,479 3,963 4,558 5,027 5,027 Retained Earnings
0.48 0.59 136 -4.70 -619 -406 -272 -350 -185 -67.00 -682 -864 -979 -862 -1,530 -1,686 -1,686 Accumulated other comprehensive
income (loss)
356 384 1,047 1,189 3,569 3,736 3,780 3,793 3,771 4,278 3,222 3,011 3,104 3,024 2,716 2,632 2,632 Additional Paid-In Capital
-662 -613 -240 -8.04 -10.00 -10.00 -796 -860 -1,058 -1,005 -41.00 -111 -176 -247 -297 -336 -336 Treasury Stock
157 253 1,457 2,208 4,286 4,932 4,718 4,976 5,208 6,184 5,793 5,609 5,430 5,880 5,449 5,639 5,639 Total Equity
0.19 0.12 0.39 0.74 0.34 0.46 0.29 0.35 0.57 0.49 0.48 0.47 0.38 0.38 0.35 0.41 0.41 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NDAQ 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.36 61.69 128 518 315 263 389 383 349 384 413 427 106 729 458 774 774 Net Income
11.36 61.69 128 518 315 263 389 383 349 384 413 427 106 729 458 774 774 Net Income From Continuing
Operations
76.34 68.34 70.92 38.89 93.00 104 103 109 104 122 137 138 170 188 210 190 190 Depreciation, Depletion and
Amortization
26.36 -16.87 9.52 -26.50 31.00 33.00 5.00 -11.00 -30.00 -55.00 -16.00 55.00 73.00 11.00 -35.00 -42.00 -42.00 Change In Receivables
-2.13 27.03 42.15 12.22 -22.00 -78.00 -49.00 58.00 -35.00 75.00 -2.00 -31.00 37.00 -33.00 51.00 -35.00 -35.00 Change In Payables And Accrued
Expense
-4.85 -25.53 23.78 62.52 -196 48.00 -127 80.00 -6.00 13.00 -56.00 -18.00 -42.00 -95.00 103 -48.00 -48.00 Change In Working Capital
26.97 3.47 13.40 -15.58 -107 -10.00 -35.00 4.00 16.00 28.00 -6.00 -14.00 -137 7.00 342 35.00 35.00 Change In DeferredTax
-- -- -- -- 26.00 35.00 33.00 36.00 46.00 47.00 62.00 68.00 86.00 70.00 69.00 79.0079.00 Stock Based Compensation
16.76 12.93 -34.92 -431 43.00 129 71.00 32.00 39.00 -34.00 33.00 126 15.00 10.00 -154 -67.00 -67.00 Cash Flow from Others
117 121 201 173 216 582 440 669 588 574 632 727 776 909 1,028 963 963 Cash Flow from Operations
-26.03 -25.40 -21.04 -18.49 -55.00 -59.00 -42.00 -88.00 -87.00 -115 -140 -133 -134 -144 -111 -127 -127 Purchase Of Property, Plant,
Equipment
11.30 18.04 30.57 0.38 0.27 -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -2,999 -6.00 -190 -26.00 -112 -1,164 -- -256 -1,466 -776 -75.00 -206 -193 Purchase Of Business
-- -- -- -- -- 14.00 1.00 -- -- -- -- -- -- -- 286 132 108 Sale Of Business
-264 -624 -1,827 -80.40 -177 -623 -237 -533 -301 -437 -303 -384 -468 -392 -421 -579 -579 Purchase Of Investment
268 648 620 1,917 82.00 621 350 501 372 500 298 348 411 424 543 554 554 Sale Of Investment
-190 -970 -77.31 39.84 -0.27 -- -- -- -- -- -10.00 -10.00 -- -2.00 -26.00 -14.00 -3.00 Cash From Other Investing Activities
-201 -953 -1,274 1,858 -3,149 -53.00 -118 -146 -128 -1,216 -155 -435 -1,657 -890 196 -240 -240 Cash Flow from Investing
2.27 52.93 1,000 16.82 8.00 8.00 6.00 10.00 -- 23.00 -- -- -- -- -- -- -- Issuance of Stock
-0.09 -38.57 -105 -- -- -- -797 -100.00 -275 -10.00 -178 -377 -100.00 -203 -394 -200 -200 Repurchase of Stock
-- 930 311 -1,061 1,994 -340 193 -248 -145 606 -235 137 1,300 420 -320 -419 -419 Net Issuance of Debt
-8.35 -3.22 -- -- -- -- -- -- -65.00 -87.00 -98.00 -149 -200 -243 -280 -305 Cash Flow for Dividends
-305
-0.29 -1.61 24.76 16.21 27.00 -4.00 3.00 13.00 6.00 38.00 51.00 -11.00 -52.00 -27.00 -33.00 -13.00 -13.00 Other Financing
-6.46 940 1,230 -1,028 2,029 -336 -595 -325 -479 547 -460 -400 948 -53.00 -1,027 -937 -937 Cash Flow from Financing
-90.74 107 157 1,003 -951 220 -279 191 -9.00 -99.00 -6.00 -119 61.00 -19.00 187 -224 -224 Net Change in Cash
-26.03 -25.40 -21.04 -18.49 -55.00 -59.00 -42.00 -88.00 -87.00 -115 -140 -133 -134 -144 -111 -127 -127 Capital Expenditure
91.00 95.50 180 155 161 523 398 581 501 459 492 594 642 765 917 836 836 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NDAQ 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- 61.72 32.41 14.30 15.64 15.86 12.36 11.45 12.31 17.77 20.07 23.27 108 17.83 29.99 23.13 23.81 PE Ratio(TTM)
47.89 67.39 20.32 14.39 63.69 11.16 15.46 8.18 10.39 14.54 20.65 22.93 -- 18.46 13.72 21.43 22.07 Price to Owner Earnings
(TTM)
30.45 18.52 2.37 3.12 1.16 0.85 0.88 0.85 0.79 1.09 1.40 1.70 2.06 2.23 2.47 3.11 3.20 Price to Book
-- -- 15.10 6.58 -- -- -- -- -- -- -- -- -- -- -- -- -- Price to Tangible Book
8.01 31.52 21.38 46.25 27.49 8.12 12.16 7.60 8.61 14.87 16.85 16.76 17.64 17.02 14.94 21.39 22.02 Price-to-Free-Cash-Flow
Ratio
6.52 25.59 19.28 41.38 21.12 7.30 11.01 6.60 7.33 11.89 13.12 13.69 14.59 14.33 13.32 18.57 19.11 Price-to-Operating-Cash-
Flow Ratio
1.59 3.85 2.34 2.97 1.38 1.25 1.54 1.29 1.38 2.12 2.37 2.93 3.06 3.30 3.20 4.20 4.32 PS Ratio
-- -- 34.48 0.63 0.31 0.68 1.27 1.18 1.48 1.79 1.53 5.69 42.12 -- 5.40 1.38 1.56 PEG Ratio
1.74 4.40 1.82 2.33 1.90 1.58 1.86 1.63 1.73 2.74 2.80 3.36 3.82 4.23 3.85 4.85 4.99 EV-to-Revenue
11.05 21.22 10.57 14.03 9.75 8.85 8.12 6.99 7.20 10.66 11.62 13.04 32.87 13.98 11.66 15.60 16.07 EV-to-EBITDA
115 34.04 14.07 15.52 11.36 10.91 9.45 8.09 8.37 12.52 13.89 15.50 54.37 16.60 13.70 18.21 18.75 EV-to-EBIT
0.87 2.94 7.11 6.44 8.80 9.17 10.58 12.36 11.95 7.99 7.20 6.45 1.84 6.02 7.30 5.49 5.34 Return on Capital %
-- -12.08 4.19 22.22 24.70 26.57 16.07 17.43 17.23 17.10 19.19 9.33 7.34 2.48 10.52 20.95 20.84 Forward Rate of Return
-- -- -- -- -- 26.82 25.69 21.91 19.31 23.05 24.40 26.89 31.17 34.31 34.39 39.18 40.33 Shiller PE Ratio
-- -- -- -- -- -- -- -- 1.56 1.31 1.21 1.55 1.80 1.90 2.08 1.73 1.67 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
806 2,925 3,458 6,882 4,990 4,190 4,171 4,254 4,138 6,740 8,095 9,559 11,181 13,100 13,473 17,555 18,186 Market Cap
939 3,869 3,012 5,675 6,930 5,392 5,935 5,596 5,395 8,787 9,792 11,421 14,136 16,695 16,491 20,650 21,281 Enterprise Value
10.20 35.18 30.79 49.49 24.71 19.82 23.73 24.51 24.99 39.80 47.96 58.17 67.12 76.83 81.57 107 110 Month End Stock Price
-5.02 -17.43 -2.75 3.99 -38.95 -23.12 -62.13 -48.00 -19.35 -34.28 -33.63 -34.99 -48.46 -51.98 -57.14 -46.74 -46.74 Net Cash (per share)
-4.84 -15.54 0.48 6.55 -15.05 -11.45 -16.95 -14.60 -14.69 -19.07 -17.05 -18.21 -24.97 -23.25 -23.50 -24.37 -24.37 Net Current Asset Value
(per share)
-5.68 -16.70 -1.19 5.33 -38.95 -23.12 -62.13 -46.67 -17.84 -32.54 -31.90 -33.55 -46.53 -50.41 -55.40 -44.81 -44.81 Net-Net Working Capital (per
share)
-- 6.85 14.67 18.86 24.67 32.34 36.05 43.09 47.11 54.16 59.26 57.40 56.32 60.03 64.10 68.56 68.56 Projected FCF (per share)
-- -- -- -- -- -- -- 27.22 25.35 29.83 36.90 36.55 40.37 42.84 50.94 62.63 62.63 Median PS (per share)
-- -- 5.45 79.13 39.50 29.30 18.76 20.80 16.83 22.22 31.45 -- -- -- 15.10 77.83 77.83 Peter Lynch Fair Value (per
share)
-- -- 6.60 24.20 -- -- -- -- -- -- -- -- -- -- -- -- -- Graham Number (per share)
0.89 -3.26 10.72 13.95 1.58 9.82 13.29 22.51 28.09 24.00 28.06 28.78 23.33 25.17 30.27 33.36 33.36 Earnings Power Value
(EPV)
2.27 2.00 2.35 8.05 0.98 1.17 0.74 0.97 1.68 1.44 1.68 1.87 1.48 1.69 1.71 2.36 2.40 Altman Z-Score
5.00 6.00 5.00 4.00 4.00 7.00 7.00 7.00 8.00 6.00 7.00 7.00 6.00 5.00 5.00 7.00 7.00 Piotroski F-Score
-2.03 -1.01 -2.07 -1.99 -3.56 -2.53 -2.89 -2.42 -2.12 -2.60 -2.55 -2.72 -2.27 -2.71 -2.66 -2.30 -2.30 Beneish M-Score
0.19 1.35 0.49 0.27 2.09 0.48 0.61 0.39 0.46 0.90 0.60 0.62 0.71 0.67 0.55 0.56 0.67 Scaled Net Operating
Assets
11.74 43.69 32.32 -50.77 25.46 -2.45 0.45 -0.97 -1.18 8.17 -0.52 1.15 6.98 4.62 -4.88 0.37 0.37 Sloan Ratio (%)
1.95 1.83 5.02 4.09 1.07 1.18 1.03 1.09 1.47 1.13 1.14 1.12 1.12 1.05 0.97 1.01 1.01 Current Ratio
1.95 1.83 5.02 4.09 1.07 1.18 1.03 1.09 1.47 1.13 1.14 1.12 1.12 1.05 0.97 1.01 1.01 Quick Ratio
11.35 44.69 46.75 50.00 49.49 26.74 24.16 29.64 27.18 39.98 49.29 59.97 71.67 79.27 96.74 108 120 Highest Stock Price
5.53 8.10 24.28 27.50 15.76 17.63 17.30 20.40 21.24 24.99 34.13 45.04 55.73 66.68 75.21 78.82 82.22 Lowest Stock Price
-0.62 -5.29 -35.08 -23.80 -45.21 -4.68 16.84 1.27 4.58 -2.27 0.33 2.65 -1.37 -2.35 3.13 0.76 0.76 Shares Buyback Ratio (%)
-21.29 53.81 42.62 25.25 9.74 -10.91 -2.81 23.60 -5.35 3.71 7.89 -1.78 10.44 6.09 9.56 0.08 0.05 YoY Rev. per Sh. Growth
(%)
98.62 2,950 66.67 264 -55.20 -19.35 52.80 12.57 -5.12 10.29 6.22 4.60 -74.80 583 -36.51 69.60 70.22 YoY EPS Growth (%)
122 103 18.53 20.97 27.30 -19.03 27.20 25.71 -2.47 10.71 1.17 4.98 -49.85 175 19.65 -5.95 -5.96 YoY EBITDA Growth (%)
-- -13.91 0.94 22.87 50.74 23.44 9.77 9.72 8.29 9.92 13.16 4.09 2.57 -2.12 5.55 16.81 15.30 EBITDA 5-Y Growth (%)
91.30 81.02 99.42 116 190 205 203 176 168 167 169 167 165 166 165 165 164 Shares Outstanding (Basic
Average)
78.97 83.15 112 139 202 211 176 174 166 169 169 164 167 171 165 164 165 Shares Outstanding (EOP)
0.60 0.86 2.79 2.52 1.27 0.76 0.82 0.84 1.19 1.06 1.04 0.87 0.64 0.69 0.57 0.62 0.62 Beta
03/14/05 03/15/06 02/28/07 02/25/08 02/27/09 02/18/10 02/24/11 02/24/12 02/21/13 02/24/14 02/17/15 02/26/16 03/01/17 02/28/18 02/22/19 02/25/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NDAQ 6/7
03/15/06 02/28/07 02/25/08 02/25/08 02/18/10 02/24/11 02/21/13 02/24/14 02/17/15 02/26/16 03/01/17 02/28/18 02/22/19 02/25/20 02/25/20 02/25/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NDAQ 7/7
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYMC 1/1
Align Technology Inc (NAS:ALGN) 03/03/2020 1:59PM EST GuruFocus
Price: $ 224.15 -6.07(-2.64%) Market Cap: $ 17.65 B Enterprise Value: $16.83 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 40.53
Cash to Debt 19.99 Operating margin (%) 21.38
Forward P/E N/A
Equity to Asset 0.54 Net-margin (%) 18.40
PE(NRI) 40.53
Interest Coverage N/A ROE (%) 33.88
F-Score:
P/B 13.12
ROA (%) 19.28
5 P/S 7.45
Z-Score: ROC (Joel Greenblatt) (%) 81.45
11.45 PFCF 27.96
Revenue Growth (3Y)(%) 31.40
M-Score: POCF 23.99
-3.07 EBITDA Growth (3Y)(%) 24.20
EV-to-EBIT 32.74
WACC vs 15.39% EPS Growth (3Y)(%) 33.40
ROIC 69.57% PEG 1.68
WACC
ROIC Shiller P/E 94.94
Current Ratio 1.68
Quick Ratio 1.57
Days Inventory 45.38
Days Sales Outstanding 83.45
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Align Technology manufactures clear orthodontic aligners, intraoral scanners, and computer-aided design/computer-
aided manufacture digital services used in dentistry and orthodontics.... (Read More)
2016 239 269 279 293 1,080 Competitors: LSE:SN., NAS:PODD, NYSE:BIO, SZSE:300003 , ASX:COH, NYSE:ZBH, NAS:BRKR,
2017 310 356 385 421 1,473 NAS:ABMD, OCSE:GN, NYSE:PEN, HKSE:01066, SZSE:300529, NYSE:GMED, NAS:TNDM, NAS:IART, NAS:SDC,
Good Signs 2018 437 490 505 534 1,966 NYSE:NVRO, NAS:NUVA, NAS:WMGI, NAS:LIVN
Interest Coverage: 2019 549 601 607 650 2,407
2020
Insider Trades
Comfortable
Quarterly Earnings per Share
DCF Mar Jun Sep Dec Full Year
GuruFocus does not 2016 0.50 0.62 0.63 0.59 2.34
calculate intrinsic value: DCF 2017 0.85 0.85 1.01 0.13 2.84
(Earnings Based) for 2018 1.17 1.30 1.24 1.20 4.91
companies with one star 2019 0.89 1.83 1.28 1.53 5.53
predictability or not rated. But 2020
you can go to each stock's Quarterly Dividends Per Share
DCF page to calculate
yourself. Mar Jun Sep Dec Full Year
2016 0.00 0.00 0.00 0.00 0.00
2017 0.00 0.00 0.00 0.00 0.00
Reverse DCF 2018 0.00 0.00 0.00 0.00 0.00
GuruFocus does not 2019 0.00 0.00 0.00 0.00 0.00
calculate reverse DCF growth 2020
rate for companies with one Growth Rate
star predictability or not rated.
But you can go to each Annual Rates(per share) 10-Y 5-Y 12-M
stock's DCF page to calculate Revenue Growth (%) 20.70 28.30 24.30
yourself.
EBITDA Growth (%) 0.00 24.70 0.20
Free Cash Flow Growth (%) 19.40 28.30 129.00
Book Value Growth (%) 15.90 13.10 8.80
EPS Growth (%) 0.00 29.20 12.40
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALGN 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2.70 3.28 3.26 3.98 4.47 4.52 4.96 5.98 6.74 7.99 9.26 10.37 13.25 18.01 24.17 30.05 30.08 Revenue per Share
0.38 0.20 -0.43 0.66 0.44 -0.30 1.56 1.34 1.69 2.16 2.57 2.54 3.35 4.78 6.41 6.42 7.14 EBITDA per Share
0.15 0.04 -0.59 0.47 0.25 -0.49 1.37 1.13 1.47 1.95 2.35 2.31 3.06 4.32 5.74 6.42 6.43 EBIT per Share
0.14 0.02 -0.55 0.50 1.18 -0.45 0.95 0.83 0.71 0.78 1.77 1.77 2.33 2.83 4.92 5.53 5.53 Earnings per Share (diluted)
0.14 0.02 -0.55 0.50 1.18 -0.45 0.95 0.83 0.71 0.78 1.77 1.77 2.33 2.83 4.92 5.53 5.53 eps without NRI
-- 0.08 -0.52 0.42 1.15 -0.23 1.32 1.31 0.83 1.16 2.14 1.87 1.97 3.66 4.45 5.27 5.27 Owner Earnings per Share (TTM)
0.24 0.04 -0.60 0.64 0.37 0.97 1.43 1.25 1.15 2.02 2.47 2.26 2.17 2.97 4.07 9.33 8.02 Free Cashflow per Share
1.41 1.51 1.29 2.35 3.31 3.66 4.95 6.23 7.21 7.87 9.39 10.67 12.51 14.42 15.71 17.08 17.08 Book Value per Share
1.41 1.49 1.07 2.19 3.18 3.59 4.91 3.88 5.41 6.81 8.36 9.67 11.48 13.31 14.68 16.12 16.12 Tangible Book per Share
0.03 -- 0.18 -- -- -- -- -- -- -- -- -- -- -- -- 0.55 0.55 Total Debt per Share
10.75 6.47 13.97 16.68 8.75 17.82 19.54 23.73 27.75 57.14 55.91 65.85 96.13 222 209 279 224 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.79 1.58 -39.51 29.20 42.13 -12.72 22.82 15.36 10.95 10.58 21.03 17.99 20.58 21.53 33.25 34.07 33.88 Return on Equity %
7.53 1.04 -23.81 19.09 31.86 -9.86 17.85 11.85 8.35 8.10 16.02 13.42 14.85 14.55 20.86 19.45 19.28 Return on Assets %
43.57 10.16 -141 130 57.51 -114 386 213 184 208 232 166 160 135 107 85.09 81.45 Return on Capital %
46.76 6.82 -153 102 144 -30.94 96.98 42.27 34.78 43.61 52.76 47.19 58.12 57.74 86.05 79.29 69.57 Return on Invested Capital %
17.34 7.98 16.44 18.45 19.11 16.92 14.65 14.35 14.33 19.18 9.75 10.44 9.51 12.26 17.55 16.21 15.39 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Effective Interest Rate on Debt %
66.72 69.21 68.61 73.61 74.06 74.76 78.38 75.31 74.35 75.45 75.95 75.71 75.50 75.81 73.63 72.46 72.46 Gross Margin %
5.65 1.18 -18.19 11.91 7.15 -10.47 27.71 18.84 21.82 24.42 25.42 22.31 23.05 24.00 23.73 21.38 21.38 Operating Margin %
5.07 0.68 -16.94 12.56 26.31 -10.01 19.18 13.91 10.48 9.74 19.15 17.03 17.57 15.71 20.35 18.40 18.40 Net Margin %
8.99 1.10 -18.44 15.95 8.36 21.44 28.80 20.86 17.04 25.23 26.63 21.83 16.40 16.48 16.85 31.05 26.60 FCF Margin %
0.02 -- 0.14 -- -- -- -- -- -- -- -- -- -- -- -- 0.03 0.03 Debt to Equity
0.66 0.66 0.55 0.72 0.78 0.77 0.79 0.76 0.77 0.76 0.76 0.73 0.71 0.65 0.61 0.54 0.54 Total Equity to Total Asset
0.01 -- 0.08 -- -- -- -- -- -- -- -- -- -- -- -- 0.02 0.02 Total Debt to Total Asset
99.01 105 96.42 112 89.67 73.59 72.92 64.16 59.25 62.72 63.56 59.64 63.82 70.24 75.48 76.60 75.93 Gross Profit to Total Asset %
1.48 1.52 1.41 1.52 1.21 0.98 0.93 0.85 0.80 0.83 0.84 0.79 0.85 0.93 1.03 1.06 1.05 Asset Turnover
60.84 51.64 59.49 57.57 62.87 63.73 61.69 69.64 64.52 62.61 62.18 68.45 83.63 80.31 81.48 83.45 83.45 Days Sales Outstanding
21.33 14.24 28.37 44.86 25.83 28.34 33.87 68.75 56.95 49.02 57.74 61.05 39.45 37.66 45.22 48.04 48.04 Days Accounts Payable
16.45 16.54 16.96 14.59 11.28 9.28 10.01 18.40 31.16 32.75 29.78 31.45 32.14 30.11 30.73 46.17 45.38 Days Inventory
55.96 53.94 48.08 27.30 48.32 44.67 37.83 19.29 38.73 46.34 34.22 38.85 76.32 72.76 66.99 81.58 80.79 Cash Conversion Cycle
22.19 22.06 21.52 25.01 32.35 39.31 36.47 19.83 11.72 11.14 12.26 11.61 11.36 12.12 11.88 7.91 8.04 Inventory Turnover
0.33 0.31 0.31 0.26 0.26 0.25 0.22 0.25 0.26 0.25 0.24 0.24 0.25 0.24 0.26 0.28 0.28 COGS to Revenue
0.02 0.01 0.02 0.01 0.01 0.01 0.01 0.01 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.04 0.03 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALGN 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
173 207 206 284 304 312 387 480 560 660 762 845 1,080 1,473 1,966 2,407 2,407 Revenue
57.53 63.78 64.78 75.04 78.85 78.84 83.71 118 144 162 183 205 265 356 519 663 663 Cost of Goods Sold
115 143 142 209 225 233 303 361 416 498 578 640 815 1,117 1,448 1,744 1,744 Gross Profit
66.72 69.21 68.61 73.61 74.06 74.76 78.38 75.31 74.35 75.45 75.95 75.71 75.50 75.81 73.63 72.46 72.46 Gross Margin %
89.78 122 161 152 177 244 170 234 251 293 332 390 491 666 852 1,072 1,072 Selling, General, & Admin. Expense
15.76 18.59 18.47 25.73 26.17 22.25 26.00 37.15 42.87 44.08 52.80 61.24 75.72 97.56 129 157 157 Research & Development
-- -0.00 0.00 -1.80 0.00 -0.00 -0.00 0.00 -0.00 0.00 0.00 0.00 -0.00 -0.00 -0.00 -- -- Other Operating Expense
9.77 2.45 -37.54 33.86 21.75 -32.69 107 90.36 122 161 194 189 249 354 467 514 514 Operating Income
5.65 1.18 -18.19 11.91 7.15 -10.47 27.71 18.84 21.82 24.42 25.42 22.31 23.05 24.00 23.73 21.38 21.38 Operating Margin %
-- -- -- -- 3.05 0.58 0.56 0.55 0.76 -- -- -- 4.21 6.95 8.58 12.48 12.48 Interest Income
-- -- -- -- -0.02 -0.09 -0.02 -0.05 -2.05 -1.07 -3.21 -2.53 -- -- -- -- -- Interest Expense
-- -- -- -- 3.03 0.49 0.56 0.50 -1.30 -1.07 -3.21 -2.53 4.21 6.95 8.58 12.48 12.48 Net Interest Income
-0.00 0.28 3.40 3.10 -7.70 -1.69 -5.84 -0.92 -36.59 -67.01 -- -- -10.57 4.24 -8.49 35.69 35.69 Other Income (Expense)
9.76 2.73 -34.14 36.95 17.08 -33.89 102 89.94 84.30 93.14 190 186 243 365 467 563 563 Pre-Tax Income
-0.99 -1.32 -0.83 -1.23 62.91 2.62 -27.75 -23.23 -25.61 -28.84 -44.54 -42.08 -51.20 -130 -57.72 -112 -112 Tax Provision
10.18 48.22 -2.43 3.32 -368 7.74 27.21 25.82 30.38 30.97 23.40 22.61 21.11 35.68 12.37 19.97 19.97 Tax Rate %
8.77 1.41 -34.96 35.72 79.99 -31.27 74.25 66.72 58.69 64.30 146 144 190 231 400 443 443 Net Income (Continuing Operations)
8.77 1.41 -34.96 35.72 79.99 -31.27 74.25 66.72 58.69 64.30 146 144 190 231 400 443 443 Net Income
5.07 0.68 -16.94 12.56 26.31 -10.01 19.18 13.91 10.48 9.74 19.15 17.03 17.57 15.71 20.35 18.40 18.40 Net Margin %
0.15 0.02 -0.55 0.53 1.20 -0.45 0.98 0.86 0.73 0.80 1.81 1.80 2.38 2.89 5.00 5.57 5.57 EPS (Basic)
0.14 0.02 -0.55 0.50 1.18 -0.45 0.95 0.83 0.71 0.78 1.77 1.77 2.33 2.83 4.92 5.53 5.53 EPS (Diluted)
64.09 63.15 63.25 71.44 68.06 69.09 78.08 80.29 83.04 82.59 82.28 81.52 81.48 81.83 81.36 80.10 79.14 Shares Outstanding (Diluted
Average)
14.72 10.45 10.27 13.39 12.79 13.00 14.19 17.48 17.81 16.83 17.86 18.00 24.00 37.74 54.73 -- 73.74 Depreciation, Depletion and
Amortization
24.49 12.90 -27.27 47.24 29.89 -20.80 121 108 140 178 211 207 273 391 521 514 572 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALGN 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
69.66 74.22 55.11 89.12 87.10 166 295 241 306 243 200 168 389 450 637 550 550 Cash And Cash Equivalents
-- -- 8.93 38.77 23.07 19.98 8.62 7.40 28.49 127 255 360 251 272 98.46 318 318 Marketable Securities
69.66 74.22 64.04 128 110 186 303 248 335 370 455 527 640 722 735 869 869 Cash, Cash Equivalents, Marketable
Securities
28.81 29.31 33.64 44.85 52.36 54.54 65.43 91.54 98.99 113 130 159 247 324 439 550 550 Accounts Receivable
0.95 1.49 2.02 1.98 1.07 1.08 1.27 4.54 7.63 5.17 8.14 9.95 9.79 12.72 26.12 -- -- Inventories, Raw Materials &
Components
1.55 1.06 0.76 0.63 0.42 0.75 1.03 2.49 3.89 4.24 2.97 7.07 10.77 12.16 13.78 -- -- Inventories, Work In Process
0.35 0.38 0.31 0.30 0.48 0.22 0.24 2.37 3.60 4.56 4.82 2.45 6.57 6.81 15.74 -- -- Inventories, Finished Goods
-- -- -- 0.00 0.00 -- -- -0.00 -- -- -- -- -- -- -- 112 112 Inventories, Other
2.85 2.93 3.09 2.91 1.97 2.05 2.54 9.40 15.12 13.97 15.93 19.47 27.13 31.69 55.64 112 112 Total Inventories
5.51 5.13 7.32 8.87 13.41 18.25 17.36 35.81 36.81 47.47 56.82 26.70 38.18 80.95 72.47 102 102 Other Current Assets
107 112 108 185 178 261 389 385 486 545 657 732 953 1,158 1,302 1,633 1,633 Total Current Assets
-- -- -- -- -- -- 9.09 -- 21.25 102 148 151 105 94.55 64.89 -- -- Investments And Advances
-- -- -- -- -- -- -- 1.16 1.16 1.16 1.16 3.07 3.07 17.63 17.63 -- -- Land And Improvements
6.03 8.44 9.20 9.70 -- -- -- 1.91 1.87 1.87 1.87 4.23 7.27 63.89 139 -- -- Buildings And Improvements
39.48 42.35 54.98 59.69 74.35 78.49 82.27 104 134 158 161 184 252 279 364 -- -- Machinery, Furniture, Equipment
1.61 8.39 1.99 1.20 4.08 6.44 12.78 17.91 16.03 5.44 18.31 42.85 25.95 85.98 95.41 -- -- Construction In Progress
54.74 65.68 73.88 79.08 88.34 94.98 98.46 129 165 181 198 255 311 485 693 688 688 Gross Property, Plant and Equipment
-33.04 -39.25 -46.98 -53.76 -61.36 -70.01 -67.77 -75.47 -85.94 -106 -108 -118 -136 -136 -172 -- -- Accumulated Depreciation
21.70 26.43 26.90 25.32 26.98 24.97 30.68 53.97 79.19 75.74 90.13 136 175 349 521 688 688 Property, Plant and Equipment
-- 1.20 14.30 11.09 8.27 5.47 2.67 185 145 85.36 82.06 79.16 82.00 89.07 81.95 75.69 75.69 Intangible Assets
-- 0.48 0.48 0.48 0.48 0.48 0.48 135 99.24 61.62 61.37 61.07 61.04 64.61 64.03 -- -- Goodwill
2.18 2.90 2.26 1.83 66.19 63.50 45.89 25.08 25.06 24.39 10.76 59.62 81.16 93.23 81.81 104 104 Other Long Term Assets
131 142 152 223 279 355 477 649 756 832 988 1,159 1,396 1,784 2,052 2,501 2,501 Total Assets
3.36 2.49 5.03 9.22 5.58 6.12 7.77 22.31 22.42 21.77 28.98 34.35 28.60 36.78 64.26 87.25 87.25 Accounts Payable
-- -- -- -- -- 5.31 4.88 7.48 5.83 7.42 7.48 7.45 9.24 17.91 12.03 -- -- Total Tax Payable
26.84 31.86 45.34 49.10 43.86 54.26 64.00 92.69 89.75 94.96 108 139 159 220 271 407 407 Accounts Payable & Accrued
Expense
1.85 -- 11.50 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
16.26 16.75 10.94 12.36 16.71 32.30 33.85 52.25 61.98 77.28 90.68 130 191 273 406 564 564 Current Deferred Revenue
16.26 16.75 10.94 12.36 16.71 32.30 33.85 52.25 61.98 77.28 90.68 130 191 273 406 564 564 DeferredTaxAndRevenue
-- -0.00 -- -- -- -5.31 -4.88 3.18 4.05 3.10 3.15 2.64 3.84 7.29 15.08 -- -- Other Current Liabilities
44.95 48.61 67.78 61.46 60.57 81.24 92.97 148 156 175 202 272 354 500 692 971 971 Total Current Liabilities
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 43.46 43.46 Capital Lease Obligation
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 43.46 43.46 Long-Term Debt & Capital Lease
Obligation
0.02 -- 0.14 -- -- -- -- -- -- -- -- -- -- -- -- 0.03 0.03 Debt to Equity
0.02 0.06 0.22 0.15 0.23 0.96 6.22 10.37 19.22 22.84 33.42 39.04 46.43 130 107 140 140 Other Long-Term Liabilities
44.97 48.67 68.00 61.61 60.80 82.20 99.20 158 175 198 235 311 401 630 800 1,155 1,155 Total Liabilities
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 -- -- Common Stock
-292 -290 -325 -290 -221 -252 -178 -117 -89.63 -95.91 -30.51 27.39 131 267 378 -- -- Retained Earnings
-0.00 0.01 0.00 0.66 0.27 0.46 0.13 0.05 0.20 0.29 -0.14 -0.98 -0.94 0.57 -2.77 -- -- Accumulated other comprehensive
income (loss)
378 384 409 450 439 525 556 607 671 730 783 822 865 886 878 -- -- Additional Paid-In Capital
85.74 93.44 83.56 161 219 273 378 491 581 634 753 848 995 1,154 1,253 1,346 1,346 Total Equity
0.66 0.66 0.55 0.72 0.78 0.77 0.79 0.76 0.77 0.76 0.76 0.73 0.71 0.65 0.61 0.54 0.54 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALGN 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
8.77 1.41 -34.96 35.72 79.99 -31.27 74.25 66.72 58.69 64.30 146 144 190 231 400 443 443 Net Income
8.77 1.41 -34.96 35.72 79.99 -31.27 74.25 66.72 58.69 64.30 146 144 190 231 400 443 443 Net Income From Continuing
Operations
14.72 10.45 10.27 13.39 12.79 13.00 14.19 17.48 17.81 16.83 17.86 18.00 24.00 37.74 54.73 -- 73.74 Depreciation, Depletion and
Amortization
-8.09 -0.99 -4.04 -10.70 -7.95 -2.59 -12.18 -24.15 -11.67 -11.98 -27.23 -40.78 -95.81 -90.99 -109 -- -115 Change In Receivables
-0.52 -0.08 -0.16 0.19 0.94 -0.09 -0.51 -4.06 -5.72 1.16 -2.00 -3.56 -7.66 -5.48 -24.11 -- -47.69 Change In Inventory
0.63 0.23 -2.25 -1.48 0.28 0.31 -1.21 -2.68 -3.85 -0.39 -2.92 -3.73 -9.39 -8.67 -9.12 -- 23.83 Change In Prepaid Assets
0.22 -2.00 3.00 2.74 -6.14 2.72 22.32 44.64 2.94 9.48 25.58 20.11 27.98 32.41 61.30 -- 114 Change In Payables And Accrued
Expense
-0.28 3.51 2.00 -8.16 -8.31 15.88 10.59 30.09 -5.91 13.16 9.19 20.83 -16.61 75.89 18.69 -- 151 Change In Working Capital
-- -- -- -- -64.61 -2.61 17.31 5.84 17.78 21.20 25.48 -1.20 -0.51 17.57 -15.68 -- -16.26 Change In DeferredTax
-- -- -- -- 17.74 15.09 16.07 19.17 21.48 26.44 39.82 52.94 54.15 58.85 70.76 -- 86.54 Stock Based Compensation
1.39 0.71 8.66 11.83 0.44 64.07 -2.88 -8.82 -12.67 -22.96 -11.28 3.41 -3.06 17.07 25.95 304 113 Cash Flow from Others
24.60 16.08 -14.03 52.78 39.75 74.17 130 130 134 186 227 238 248 439 555 747 747 Cash Flow from Operations
-9.06 -13.80 -24.03 -7.43 -14.33 -7.19 -18.03 -30.40 -38.33 -19.41 -24.09 -53.45 -70.58 -196 -223 -- -161 Purchase Of Property, Plant,
Equipment
0.86 -- 0.37 -- 0.19 -- -- 0.10 -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -188 -- -7.65 -- -- -46.75 -21.72 -5.00 -- -- Purchase Of Business
-0.52 -2.22 -18.42 -64.69 -75.05 -42.92 -18.33 -- -67.51 -304 -437 -447 -406 -390 -180 -- -619 Purchase Of Investment
2.81 2.23 9.48 34.80 87.93 48.89 20.59 10.32 25.20 123 260 334 604 389 385 -- 522 Sale Of Investment
-0.11 -1.46 -0.15 0.54 0.21 -0.33 -0.15 -4.03 2.35 -2.41 -0.18 0.05 -8.03 -32.60 30.77 -- -0.72 Cash From Other Investing Activities
-6.02 -15.26 -32.75 -36.78 -1.06 -1.56 -15.92 -212 -78.30 -211 -202 -166 73.03 -251 6.93 -350 -350 Cash Flow from Investing
8.12 5.59 16.18 28.99 10.51 8.10 11.82 25.50 42.33 34.20 18.03 11.33 13.78 14.46 16.64 -- 17.94 Issuance of Stock
-0.00 -- -- -- -50.14 -- -- -7.75 -47.20 -95.11 -98.23 -102 -96.22 -104 -300 -- -350 Repurchase of Stock
-1.97 -1.85 11.50 -11.50 -0.41 -0.14 -- -- -- -- -- -- -- -- -- -- -- Net Issuance of Debt
-- -- -- 0.02 -0.32 -1.12 2.89 9.49 15.08 22.74 13.79 -10.32 -13.08 -46.17 -86.07 -- -106 Other Financing
6.14 3.74 27.68 17.51 -40.36 6.84 14.71 27.24 10.21 -38.17 -66.42 -101 -95.52 -136 -369 -486 -486 Cash Flow from Financing
24.72 4.56 -19.11 34.01 -2.02 79.39 128 -53.99 65.71 -63.43 -43.08 -32.16 222 57.11 187 -86.43 -86.43 Net Change in Cash
-9.06 -13.80 -24.03 -7.43 -14.33 -7.19 -18.03 -30.40 -38.33 -19.41 -24.09 -53.45 -70.58 -196 -223 -- -161 Capital Expenditure
15.54 2.28 -38.06 45.35 25.41 66.97 111 100 95.45 167 203 185 177 243 331 747 640 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALGN 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
76.79 216 -- 33.36 7.42 -- 20.57 28.59 38.77 73.26 31.59 37.20 41.08 78.24 42.65 50.46 40.53 PE Ratio(TTM)
-- 78.90 -- 40.00 7.58 -- 14.85 18.06 33.56 49.47 26.09 35.20 48.72 60.76 47.06 52.92 42.51 Price to Owner Earnings
(TTM)
7.63 4.30 10.85 7.10 2.65 4.87 3.95 3.81 3.85 7.26 5.96 6.17 7.68 15.41 13.34 16.34 13.12 Price to Book
7.63 4.35 13.08 7.63 2.75 4.97 3.98 6.12 5.13 8.39 6.69 6.81 8.37 16.69 14.27 17.31 13.91 Price to Tangible Book
44.24 170 -- 26.52 23.15 18.82 13.67 19.08 24.01 28.22 22.63 29.02 44.16 74.89 51.26 34.81 27.96 Price-to-Free-Cash-Flow
Ratio
27.99 25.08 -- 22.76 14.88 16.97 11.77 14.63 17.12 25.26 20.24 22.51 31.59 41.46 30.65 29.85 23.99 Price-to-Operating-Cash-
Flow Ratio
3.99 1.96 4.28 4.19 1.95 3.97 3.94 3.97 4.08 7.10 6.04 6.34 7.24 12.33 8.66 9.28 7.45 PS Ratio
-- -- -- -- -- -- -- -- -- -- -- 2.07 2.33 4.09 1.80 1.74 1.68 PEG Ratio
3.39 1.58 4.14 3.58 1.54 3.66 3.07 3.38 3.40 6.41 5.29 5.57 6.49 11.58 8.12 8.79 7.02 EV-to-Revenue
23.96 25.39 -31.31 21.53 15.65 -57.45 10.54 15.01 13.59 23.78 19.06 22.78 25.67 43.60 30.64 37.03 29.47 EV-to-EBITDA
60.07 134 -22.74 30.04 27.36 -34.73 12.06 17.91 15.57 26.26 20.82 24.96 28.15 48.25 34.23 41.14 32.74 EV-to-EBIT
1.66 0.75 -4.40 3.33 3.65 -2.88 8.29 5.58 6.42 3.81 4.80 4.01 3.55 2.07 2.92 2.43 3.06 Return on Capital %
-- -9.52 -1.82 0.48 1.60 1.57 2.87 3.91 3.72 2.38 -- 20.70 19.74 20.21 21.34 21.39 21.68 Forward Rate of Return
-- -- -- -- -- -- -- 545 89.97 131 94.03 85.22 88.44 165 122 118 94.94 Shiller PE Ratio
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
654 402 906 1,145 578 1,329 1,493 1,869 2,237 4,605 4,484 5,235 7,647 17,784 16,708 21,992 17,653 Market Cap
587 327 854 1,017 468 1,142 1,189 1,621 1,902 4,235 4,030 4,708 7,007 17,063 15,973 21,167 16,827 Enterprise Value
10.75 6.47 13.97 16.68 8.75 17.82 19.54 23.73 27.75 57.14 55.91 65.85 96.13 222 209 279 224 Month End Stock Price
0.41 0.41 -0.06 0.97 0.75 1.40 2.67 1.14 1.98 2.13 2.74 2.72 3.01 1.15 -0.80 -3.63 -3.63 Net Cash (per share)
1.02 1.01 0.62 1.79 1.77 2.40 3.79 2.87 3.86 4.30 5.26 5.30 6.94 6.60 6.30 6.08 6.08 Net Current Asset Value
(per share)
0.78 0.79 0.35 1.48 1.36 1.96 3.33 2.07 3.00 3.27 4.05 4.34 5.51 4.38 3.67 2.32 2.32 Net-Net Working Capital (per
share)
-- -- -5.17 1.13 4.79 6.00 8.80 12.33 16.02 20.51 28.38 34.55 37.99 43.53 52.41 69.29 69.29 Projected FCF (per share)
-- -- -- -- -- -- 18.65 22.18 27.03 32.40 37.70 46.22 64.77 93.48 147 194 194 Median PS (per share)
-- -- -13.75 9.61 15.45 -4.33 10.07 7.89 -- -- -- 31.77 41.28 54.36 117 138 138 Peter Lynch Fair Value (per
share)
2.11 0.82 -- 4.96 9.19 -- 10.24 8.51 9.30 10.93 18.25 19.62 24.53 29.11 40.31 44.79 44.79 Graham Number (per share)
-- -11.22 -3.45 3.45 21.33 18.75 26.91 39.59 46.29 15.05 21.93 25.13 30.64 36.32 41.88 53.31 53.31 Earnings Power Value
(EPV)
7.74 4.14 5.93 11.82 6.39 9.88 10.77 8.46 9.14 15.48 13.37 11.89 13.44 19.10 14.86 13.45 11.45 Altman Z-Score
8.00 6.00 2.00 8.00 6.00 5.00 7.00 4.00 5.00 7.00 9.00 5.00 6.00 7.00 7.00 5.00 5.00 Piotroski F-Score
-2.74 -2.61 -2.01 -2.62 -0.02 -4.01 -2.91 -1.95 -2.63 -2.66 -2.73 -2.67 -2.34 -2.83 -2.66 -3.07 -3.07 Beneish M-Score
0.18 0.15 0.22 0.22 0.49 0.31 0.21 0.51 0.38 0.35 0.36 0.33 0.31 0.31 0.29 0.25 0.22 Scaled Net Operating
Assets
-7.51 0.41 7.80 8.86 14.78 -29.24 -8.25 22.77 0.42 10.70 12.20 6.25 -9.38 2.49 -7.86 1.84 1.84 Sloan Ratio (%)
2.38 2.30 1.59 3.00 2.94 3.22 4.18 2.60 3.12 3.11 3.26 2.69 2.69 2.32 1.88 1.68 1.68 Current Ratio
2.31 2.24 1.55 2.95 2.90 3.19 4.15 2.53 3.02 3.03 3.18 2.62 2.61 2.25 1.80 1.57 1.57 Quick Ratio
22.80 10.72 15.03 28.70 16.68 18.00 21.08 25.41 39.17 58.59 63.95 68.27 101 264 393 331 335 Highest Stock Price
8.97 5.88 5.66 13.35 5.00 6.28 13.27 14.26 22.67 25.87 44.37 52.45 58.65 89.98 194 173 170 Lowest Stock Price
-3.61 -1.98 -4.48 -5.83 3.77 -12.89 -2.44 -3.12 -2.33 0.03 0.47 0.88 -0.07 -0.61 0.33 1.21 1.21 Shares Buyback Ratio (%)
26.92 21.62 -0.52 21.97 12.21 1.21 9.69 20.51 12.87 18.53 15.80 12.03 27.79 35.86 34.25 24.31 24.34 YoY Rev. per Sh. Growth
(%)
140 -85.71 -2,850 191 136 -138 311 -12.63 -14.46 9.86 127 -- 31.64 21.46 73.85 12.40 12.63 YoY EPS Growth (%)
1,024 -46.60 -311 253 -33.59 -169 617 -13.69 25.54 27.88 19.20 -1.36 32.11 42.79 33.98 0.25 11.40 YoY EBITDA Growth (%)
-- -- -- -- -- -- -- -- -- -- -- 17.95 17.64 19.14 23.74 29.02 24.70 EBITDA 5-Y Growth (%)
59.96 61.64 63.25 67.18 66.81 69.09 75.83 77.99 80.53 80.55 80.75 80.00 79.86 80.09 80.06 79.42 78.58 Shares Outstanding (Basic
Average)
60.88 62.08 64.86 68.64 66.06 74.57 76.39 78.78 80.61 80.58 80.21 79.50 79.55 80.04 79.78 78.81 78.75 Shares Outstanding (EOP)
2.20 0.60 1.97 2.41 2.82 2.18 1.89 2.08 2.09 2.69 1.26 1.36 1.18 1.64 2.48 2.39 2.38 Beta
03/03/05 03/01/06 03/12/07 02/26/08 02/27/09 02/26/10 02/24/11 02/29/12 03/01/13 02/28/14 02/26/15 02/25/16 02/28/17 02/28/18 02/28/19 01/29/20 Filing Date
03/01/06 03/12/07 03/12/07 02/26/08 02/26/10 02/24/11 03/01/13 02/28/14 02/26/15 02/25/16 02/28/17 02/28/18 02/28/19 02/28/19 02/28/19 01/29/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALGN 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALGN 7/7
Comcast Corp (NAS:CMCSA) 03/03/2020 2:00PM EST GuruFocus
Price: $ 41.67 -0.85(-2.00%) Market Cap: $ 189.72 B Enterprise Value: $287.59 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 14.72
Cash to Debt 0.05 Operating margin (%) 19.39
Forward P/E N/A
Equity to Asset 0.31 Net-margin (%) 11.99
PE(NRI) 14.72
Interest Coverage 4.63 ROE (%) 16.99
F-Score:
P/B 2.31
ROA (%) 5.08
5 P/S 1.77
Z-Score: ROC (Joel Greenblatt) (%) 46.61
1.58 PFCF 14.47
Revenue Growth (3Y)(%) 12.60
M-Score: POCF 7.47
-2.67 EBITDA Growth (3Y)(%) 11.00
EV-to-EBIT 13.34
WACC vs 5.24% EPS Growth (3Y)(%) 16.70
ROIC 9.19% PEG 1.42
WACC
ROIC Shiller P/E 20.73
Current Ratio 0.84
Quick Ratio 0.84
Days Sales Outstanding 37.83
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Comcast is made up of three parts. The core cable business owns networks capable of providing television, Internet
Insider Sell: Insider Selling access, and phone services to roughly 58 million U.S. homes and businesses, or nearly half of the country. About half
2016 18,790 19,269 21,319 21,358 80,736 the homes in this territory subscribe to at least one Comcast service. Comcast acquired NBCUniversal from GE in
2017 20,587 21,286 21,081 22,075 85,029 2011. NBCU owns several cable networks, including CNBC, MSNBC, and USA, the NBC broadcast network, several
Good Signs 2018 22,791 21,735 22,135 27,846 94,507
local NBC affiliates, Universal Studios, and several theme parks. Lastly, Comcast acquired Sky in 2018. Sky is the
dominant television provider in the U.K. and has invested heavily in exclusive and proprietary content to build this
Revenue per Share: 2019 26,859 26,858 26,827 28,398 108,942 position. The firm is also the largest pay-television provider in Italy and has a presence in Germany and Austria....
2020 (Read More)
Consistent growth
Competitors: NAS:NFLX, NYSE:DIS, NAS:CHTR, NAS:LBRDA, NAS:DISH, NAS:VIAC, NYSE:LYV,
PB Ratio: Close to 1-year low Quarterly Earnings per Share NAS:DISCA, NAS:ROKU, NAS:LBTYA, XPAR:BOL, HAM:KD8, NAS:VIA, SZSE:002624, NYSE:MSG, NYSE:DLB,
TSE:9602, FRA:EVD, GREY:MERLY, SZSE:002739
PS Ratio: Close to 5-year low Mar Jun Sep Dec Full Year
2016 0.43 0.41 0.46 0.48 1.78 Insider Trades
2017 0.53 0.52 0.55 3.17 4.77
DCF 2018 0.66 0.69 0.62 0.55 2.52
EPS without NRI: $2.83 2019 0.77 0.68 0.70 0.68 2.83
Growth Rate in the next 10 2020
years: 19.60% Quarterly Dividends Per Share
Terminal Growth Rate for 10
years: 4% Mar Jun Sep Dec Full Year
Fair Value: $78.46 2016 0.14 0.14 0.14 0.14 0.55
2017 0.16 0.16 0.16 0.16 0.63
2018 0.19 0.19 0.19 0.19 0.76
Reverse DCF 2019 0.21 0.21 0.21 0.21 0.84
Expected eps Growth Rate: 2020
9.97% Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 13.30 12.00 16.00
EBITDA Growth (%) 10.30 10.60 16.60
Free Cash Flow Growth (%) 11.80 12.50 6.10
Book Value Growth (%) 6.80 11.50 14.80
EPS Growth (%) 19.60 15.90 11.90
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMCSA 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2.85 2.12 3.93 4.84 5.83 6.20 6.73 10.05 11.52 12.13 13.13 14.80 16.56 17.77 20.37 23.63 23.63 Revenue per Share
1.10 0.84 1.51 1.85 2.18 2.42 2.67 4.52 4.04 4.05 4.41 4.92 5.48 5.97 6.42 7.49 7.49 EBITDA per Share
0.42 0.35 0.73 0.87 1.10 1.29 1.47 1.93 2.60 2.57 2.88 3.19 3.54 3.85 4.05 4.68 4.68 EBIT per Share
0.15 0.09 0.40 0.42 0.43 0.63 0.65 0.75 1.14 1.28 1.60 1.62 1.78 4.75 2.53 2.83 2.83 Earnings per Share (diluted)
0.14 0.08 0.35 0.42 0.43 0.63 0.65 0.75 1.14 1.28 1.60 1.62 1.78 4.75 2.53 2.83 2.83 eps without NRI
0.65 0.20 0.75 0.73 0.89 0.93 1.04 1.31 1.69 1.44 1.92 2.30 2.20 2.43 2.89 3.06 3.06 Owner Earnings per Share (TTM)
0.36 0.12 0.30 0.35 0.67 0.81 1.01 1.46 1.51 1.23 1.60 1.91 1.85 2.11 2.71 2.88 2.88 Free Cashflow per Share
-- -- -- -- 0.13 0.15 0.19 0.23 0.33 0.39 0.45 0.50 0.55 0.63 0.76 0.84 0.84 Dividends per Share
7.74 7.66 7.95 8.16 7.02 8.72 9.15 9.85 10.37 10.69 11.28 10.72 11.38 14.77 15.82 18.17 18.17 Book Value per Share
-5.14 -4.80 -6.45 -7.14 -6.67 -7.30 -6.94 -12.99 -12.58 -12.24 -12.13 -12.89 -13.90 -11.36 -22.12 -19.86 -19.86 Tangible Book per Share
4.41 4.45 5.59 6.19 5.63 5.94 6.48 8.19 8.50 10.08 10.29 10.79 12.87 13.90 24.69 22.45 22.45 Total Debt per Share
11.09 8.64 14.11 9.13 8.44 8.43 10.99 11.86 18.68 25.98 29.01 28.22 34.53 40.05 34.05 44.97 41.67 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2.33 2.27 6.22 6.27 6.23 8.75 8.35 9.08 12.84 13.63 16.21 15.55 16.34 37.10 16.73 16.92 16.99 Return on Equity %
0.91 0.89 2.37 2.31 2.25 3.22 3.14 3.01 3.84 4.21 5.27 5.01 5.00 12.36 5.34 5.07 5.08 Return on Assets %
15.22 19.34 23.72 24.86 27.03 30.87 34.87 41.95 51.58 47.97 49.62 49.75 49.40 49.35 45.31 46.49 46.61 Return on Capital %
2.38 2.74 4.42 4.70 5.83 7.16 6.79 8.68 10.12 10.16 10.80 10.02 9.72 22.00 9.51 9.17 9.19 Return on Invested Capital %
6.86 4.43 6.86 5.50 5.54 7.17 7.66 7.21 8.27 8.84 6.17 7.42 7.37 8.83 7.62 6.17 5.24 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 7.65 7.63 7.13 7.08 6.32 5.83 5.46 5.37 5.18 4.91 4.02 4.27 4.30 Effective Interest Rate on Debt %
63.39 64.35 63.91 63.83 60.38 59.78 77.50 70.28 68.15 69.58 69.59 69.74 69.84 70.18 68.58 68.39 68.39 Gross Margin %
14.72 16.71 18.50 18.05 19.56 20.18 21.03 19.20 19.46 20.98 21.67 21.47 20.85 21.19 20.11 19.39 19.39 Operating Margin %
5.05 4.40 10.15 8.37 7.40 10.17 9.58 7.45 9.91 10.54 12.18 10.96 10.75 26.74 12.41 11.99 11.99 Net Margin %
12.60 5.76 7.68 7.21 11.49 12.98 14.98 14.48 13.13 10.14 12.22 12.91 11.15 11.89 13.32 12.18 12.18 FCF Margin %
0.57 0.58 0.70 0.76 0.80 0.68 0.71 0.83 0.82 0.94 0.91 1.01 1.13 0.94 1.56 1.24 1.24 Debt to Equity
0.40 0.39 0.37 0.36 0.36 0.38 0.37 0.30 0.30 0.32 0.33 0.31 0.30 0.37 0.29 0.31 0.31 Total Equity to Total Asset
0.23 0.23 0.26 0.28 0.29 0.26 0.27 0.25 0.25 0.30 0.30 0.32 0.34 0.34 0.44 0.39 0.39 Total Debt to Total Asset
11.40 13.03 14.93 17.62 18.36 18.94 25.43 28.40 26.42 27.79 30.10 31.90 32.49 32.43 29.52 28.93 29.01 Gross Profit to Total Asset %
0.18 0.20 0.23 0.28 0.30 0.32 0.33 0.40 0.39 0.40 0.43 0.46 0.47 0.46 0.43 0.42 0.42 Asset Turnover
-- -- -- -- 0.29 0.24 0.29 0.30 0.29 0.31 0.28 0.31 0.31 0.13 0.30 0.30 0.30 Dividend Payout Ratio
18.21 17.46 21.20 19.43 17.24 17.47 17.85 30.41 32.21 35.99 33.55 33.78 35.96 37.92 42.89 37.83 37.83 Days Sales Outstanding
106 109 116 109 -- -- -- 125 114 103 98.41 101 104 99.44 104 115 115 Days Accounts Payable
-87.67 -91.32 -94.74 -89.53 17.24 17.47 17.85 -95.06 -81.45 -66.59 -64.86 -66.82 -67.70 -61.52 -61.53 -76.91 -76.91 Cash Conversion Cycle
0.37 0.36 0.36 0.36 0.40 0.40 0.23 0.30 0.32 0.30 0.30 0.30 0.30 0.30 0.31 0.32 0.32 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMCSA 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
19,221 21,075 24,966 30,895 34,423 35,756 37,937 55,842 62,570 64,657 68,775 74,510 80,736 85,029 94,507 108,942 108,942 Revenue
7,036 7,513 9,010 11,175 13,639 14,380 8,537 16,596 19,929 19,670 20,912 22,550 24,348 25,355 29,692 34,440 34,440 Cost of Goods Sold
12,185 13,562 15,956 19,720 20,784 21,376 29,400 39,246 42,641 44,987 47,863 51,960 56,388 59,674 64,815 74,502 74,502 Gross Profit
63.39 64.35 63.91 63.83 60.38 59.78 77.50 70.28 68.15 69.58 69.59 69.74 69.84 70.18 68.58 68.39 68.39 Gross Margin %
5,005 5,490 6,514 7,934 7,652 7,662 14,804 20,889 22,664 23,553 24,940 27,282 30,131 31,968 35,130 40,424 40,424 Selling, General, & Admin. Expense
4,351 4,551 4,823 6,208 6,400 6,500 6,616 7,636 7,798 7,871 8,019 8,680 9,426 9,688 10,676 12,953 12,953 Other Operating Expense
2,829 3,521 4,619 5,578 6,732 7,214 7,980 10,721 12,179 13,563 14,904 15,998 16,831 18,018 19,009 21,125 21,125 Operating Income
14.72 16.71 18.50 18.05 19.56 20.18 21.03 19.20 19.46 20.98 21.67 21.47 20.85 21.19 20.11 19.39 19.39 Operating Margin %
-- -- -- -- -2,439 -2,348 -2,156 -2,505 -2,521 -2,574 -2,617 -2,702 -2,942 -3,086 -3,542 -4,567 -4,567 Interest Expense
-- -- -- -- -2,439 -2,348 -2,156 -2,505 -2,521 -2,574 -2,617 -2,702 -2,942 -3,086 -3,542 -4,567 -4,567 Net Interest Income
-1,086 -1,801 -1,025 -1,229 -235 240 280 -9.00 1,951 126 178 76.00 437 421 -225 438 438 Other Income (Expense)
-14.00 -19.00 -12.00 38.00 22.00 10.00 -33.00 -997 -1,662 -319 -212 -250 -350 -187 -131 -266 -266 Other Income (Minority Interest)
1,743 1,720 3,594 4,349 4,058 5,106 6,104 8,207 11,609 11,115 12,465 13,372 14,326 15,353 15,242 16,996 16,996 Pre-Tax Income
-801 -873 -1,347 -1,800 -1,533 -1,478 -2,436 -3,050 -3,744 -3,980 -3,873 -4,959 -5,298 7,569 -3,380 -3,673 -3,673 Tax Provision
45.96 50.76 37.48 41.39 37.78 28.95 39.91 37.16 32.25 35.81 31.07 37.08 36.98 -49.30 22.18 21.61 Tax Rate %
21.61
928 828 2,235 2,587 2,525 3,628 3,668 5,157 7,865 7,135 8,592 8,413 9,028 22,922 11,862 13,323 13,323 Net Income (Continuing Operations)
42.00 100.00 298 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
970 928 2,533 2,587 2,547 3,638 3,635 4,160 6,203 6,816 8,380 8,163 8,678 22,735 11,731 13,057 13,057 Net Income
5.05 4.40 10.15 8.37 7.40 10.17 9.58 7.45 9.91 10.54 12.18 10.96 10.75 26.74 12.41 11.99 11.99 Net Margin %
0.15 0.09 0.40 0.42 0.44 0.64 0.65 0.76 1.16 1.30 1.62 1.64 1.80 4.83 2.56 2.87 2.87 EPS (Basic)
0.15 0.09 0.40 0.42 0.43 0.63 0.65 0.75 1.14 1.28 1.60 1.62 1.78 4.75 2.53 2.83 2.83 EPS (Diluted)
6,750 9,936 6,360 6,384 5,904 5,770 5,640 5,556 5,434 5,330 5,240 5,035 4,875 4,786 4,640 4,610 4,622 Shares Outstanding (Diluted
Average)
4,623 4,804 4,962 6,208 6,400 6,500 6,803 14,423 7,798 7,871 8,019 8,680 9,426 9,688 10,676 12,953 12,953 Depreciation, Depletion and
Amortization
7,452 8,325 9,581 11,786 12,897 13,954 15,063 25,135 21,928 21,560 23,101 24,754 26,694 28,569 29,801 34,516 34,516 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMCSA 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
452 947 1,239 963 1,195 671 5,984 1,620 10,951 1,718 3,910 2,295 3,301 3,428 3,814 5,500 5,500 Cash And Cash Equivalents
1,555 148 1,735 98.00 59.00 50.00 81.00 54.00 1,464 3,573 602 -- -- -- -- -- -- Marketable Securities
2,007 1,095 2,974 1,061 1,254 721 6,065 1,674 12,415 5,291 4,512 2,295 3,301 3,428 3,814 5,500 5,500 Cash, Cash Equivalents,
Marketable Securities
959 1,008 1,450 1,645 1,626 1,711 1,855 4,652 5,521 6,376 6,321 6,896 7,955 8,834 11,104 11,292 11,292 Accounts Receivable
569 745 778 961 836 791 966 2,247 2,055 2,408 2,698 3,112 5,105 4,081 6,930 8,600 8,600 Other Current Assets
3,535 2,848 5,202 3,667 3,716 3,223 8,886 8,573 19,991 14,075 13,531 12,303 16,361 16,343 21,848 25,392 25,392 Total Current Assets
-- -- -- -- 4,783 5,947 6,670 9,854 6,325 3,770 3,135 3,224 5,247 6,931 7,883 7,683 7,683 Investments And Advances
152 148 163 202 205 206 204 975 989 1,084 1,112 1,252 1,273 1,332 1,539 1,483 1,483 Land And Improvements
25,604 27,016 33,236 1,667 1,874 1,937 1,981 5,094 5,468 8,057 8,650 10,829 10,653 12,346 14,188 15,104 15,104 Buildings And Improvements
2,371 -- -- 30,351 33,448 49,522 53,835 58,018 60,200 63,273 66,601 69,684 72,120 72,956 77,025 79,729 79,729 Machinery, Furniture,
Equipment
-- -- -- -- -- -- -- -- -- -- -- -- 1,901 1,752 2,991 5,245 5,245 Construction In Progress
28,127 29,783 36,754 43,432 47,679 51,665 56,020 64,087 66,657 72,414 76,363 81,765 85,947 88,386 95,743 101,561 101,561 Gross Property, Plant and
Equipment
-9,416 -12,079 -15,506 -19,808 -23,235 -27,810 -32,505 -36,528 -39,425 -42,574 -45,410 -48,100 -49,694 -49,916 -51,306 -53,239 -53,239 Accumulated Depreciation
18,711 17,704 21,248 23,624 24,444 23,855 23,515 27,559 27,232 29,840 30,953 33,665 36,253 38,470 44,437 48,322 48,322 Property, Plant and Equipment
68,942 65,420 74,576 77,521 78,896 78,490 78,002 109,642 109,243 108,785 109,387 115,110 119,870 121,364 171,714 173,151 173,151 Intangible Assets
-- 13,498 13,768 14,705 14,889 14,933 14,958 26,874 26,985 27,098 27,316 32,945 35,980 36,780 66,154 68,725 68,725 Goodwill
13,506 17,428 9,379 8,605 1,178 1,218 1,461 2,190 2,180 2,343 2,180 2,272 2,769 4,354 5,802 8,866 8,866 Other Long Term Assets
104,694 103,400 110,405 113,417 113,017 112,733 118,534 157,818 164,971 158,813 159,186 166,574 180,500 187,462 251,684 263,414 263,414 Total Assets
2,041 2,239 2,862 3,336 -- -- -- 5,705 6,206 5,528 5,638 6,215 6,915 6,908 8,494 10,826 10,826 Accounts Payable
2,378 2,599 3,315 3,830 6,661 6,093 6,434 11,084 13,487 14,734 12,278 13,249 14,923 15,172 21,023 23,072 23,072 Accounts Payable & Accrued
Expense
3,499 1,689 983 1,495 2,278 1,156 1,800 1,367 2,376 3,280 4,217 3,627 5,480 5,134 4,398 4,452 4,452 Current Portion of Long-Term
Debt
-- -- -- -- -- -- -- 790 851 898 915 1,302 1,132 1,687 2,182 2,768 2,768 Current Deferred Revenue
360 2.00 314 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Taxes
Liabilities
360 2.00 314 -- -- -- -- 790 851 898 915 1,302 1,132 1,687 2,182 2,768 2,768 DeferredTaxAndRevenue
2,398 2,234 2,579 2,627 -- -- -- -- -- -- -- -- -- -- -- -- Other Current Liabilities
--
8,635 6,524 7,191 7,952 8,939 7,249 8,234 13,241 16,714 18,912 17,410 18,178 21,535 21,993 27,603 30,292 30,292 Total Current Liabilities
20,093 21,682 27,992 29,828 30,178 27,940 29,615 37,942 38,082 44,567 43,864 48,994 55,566 59,422 107,345 97,765 97,765 Long-Term Debt
20,093 21,682 27,992 29,828 30,178 27,940 29,615 37,942 38,082 44,567 43,864 48,994 55,566 59,422 107,345 97,765 97,765 Long-Term Debt & Capital
Lease Obligation
0.57 0.58 0.70 0.76 0.80 0.68 0.71 0.83 0.82 0.94 0.91 1.01 1.13 0.94 1.56 1.24 1.24 Debt to Equity
26,815 27,370 27,338 26,880 26,982 27,800 28,246 29,932 30,110 31,935 32,959 33,566 34,854 24,259 27,589 28,180 28,180 NonCurrent Deferred Liabilities
468 657 241 250 126 256 223 381 440 364 357 1,709 2,231 843 889 1,148 1,148 Minority Interest
7,261 6,948 6,476 7,167 6,342 6,767 7,862 29,048 30,269 12,341 11,885 11,858 12,371 12,329 16,645 23,303 23,303 Other Long-Term Liabilities
62,804 62,524 68,997 71,827 72,441 69,756 73,957 110,163 115,175 107,755 106,118 112,596 124,326 118,003 179,182 179,540 179,540 Total Liabilities
25.00 36.00 35.00 34.00 33.00 32.00 32.00 32.00 31.00 30.00 30.00 29.00 56.00 55.00 54.00 54.00 54.00 Common Stock
4,891 4,825 6,214 7,191 7,427 10,005 12,158 13,971 16,280 19,235 21,539 21,413 23,076 38,202 41,983 50,695 50,695 Retained Earnings
-119 -114 34.00 -56.00 -113 -46.00 -99.00 -152 15.00 56.00 -146 -174 98.00 379 -368 1,047 1,047 Accumulated other
comprehensive income (loss)
44,142 42,989 42,401 41,688 40,620 40,247 39,780 40,940 40,547 38,890 38,805 38,518 38,230 37,497 37,461 38,447 38,447 Additional Paid-In Capital
-7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 -7,517 Treasury Stock
41,422 40,219 41,167 41,340 40,450 42,721 44,354 47,274 49,356 50,694 52,711 52,269 53,943 68,616 71,613 82,726 82,726 Total Equity
0.40 0.39 0.37 0.36 0.36 0.38 0.37 0.30 0.30 0.32 0.33 0.31 0.30 0.37 0.29 0.31 0.31 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMCSA 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
970 928 2,533 2,587 2,525 3,628 3,668 5,157 7,865 7,135 8,592 8,413 9,028 22,922 11,862 13,323 13,323 Net Income
970 928 2,533 2,587 2,525 3,628 3,668 5,157 7,865 7,135 8,592 8,413 9,028 22,922 11,862 13,323 13,323 Net Income From Continuing
Operations
4,623 4,804 4,962 6,208 6,400 6,500 6,803 14,423 7,798 7,871 8,019 8,680 9,426 9,688 10,676 12,953 12,953 Depreciation, Depletion and
Amortization
-54.00 -97.00 -357 -100.00 39.00 -84.00 -131 -427 -823 -721 -33.00 -708 -649 -869 -802 -57.00 -57.00 Change In Receivables
-163 -152 560 175 -38.00 -136 37.00 -20.00 366 -667 153 384 378 173 -394 -347 -347 Change In Payables And Accrued
Expense
-205 -1,161 -294 -277 -16.00 -959 -156 -7,152 314 -1,485 -1,535 487 -1,086 -1,532 -297 -2,560 -2,560 Change In Working Capital
531 183 674 247 495 832 549 1,058 139 16.00 1,165 958 1,434 -10,646 290 563 563 Change In DeferredTax
-- -- -- -- 258 257 300 344 371 419 513 567 640 751 826 1,021 1,021 Stock Based Compensation
163 81.00 -521 27.00 569 23.00 15.00 515 -1,633 204 191 380 249 78.00 940 397 397 Cash Flow from Others
6,082 4,835 6,618 8,792 10,231 10,281 11,179 14,345 14,854 14,160 16,945 19,485 19,691 21,261 24,297 25,697 25,697 Cash Flow from Operations
-3,660 -3,621 -4,701 -6,564 -6,277 -5,639 -5,497 -6,261 -6,637 -7,605 -8,542 -9,869 -10,687 -11,155 -11,709 -12,428 -12,428 Purchase Of Property, Plant,
Equipment
-- -- -- -- -738 -88.00 -183 -6,407 -90.00 -99.00 -477 -1,786 -3,951 -603 -38,679 -1,486 -1,486 Purchase Of Business
-- -- -- -- -- -- 99.00 277 3,102 1,083 666 433 218 150 141 886 -- Sale Of Business
-169 -392 -2,812 -2,089 -1,167 -346 -260 -135 -297 -1,223 -191 -784 -1,697 -2,292 -1,257 -1,899 -1,899 Purchase Of Investment
228 861 2,753 1,158 737 102 99.00 -- -- -- -- -- -- -- -- -- 37.00 Sale Of Investment
-- -- -- -- -527 -522 -536 -954 -923 -1,009 -1,122 -1,370 -1,552 -1,605 -1,935 -2,475 -2,475 Net Intangibles Purchase And Sale
-911 -596 -5,112 -1,257 495 596 567 972 3,359 -661 933 1,412 -596 1,972 2,585 2,561 3,410 Cash From Other Investing Activities
-4,512 -3,748 -9,872 -8,752 -7,477 -5,897 -5,711 -12,508 -1,486 -9,514 -8,733 -11,964 -18,265 -13,533 -50,854 -14,841 -14,841 Cash Flow from Investing
113 93.00 410 412 53.00 1.00 34.00 283 233 40.00 35.00 36.00 23.00 -- -- -- -- Issuance of Stock
-1,361 -2,313 -2,347 -3,102 -2,800 -765 -1,200 -2,141 -3,000 -2,000 -4,251 -6,750 -5,000 -- -- -- -- Repurchase of Stock
-1,293 1,272 5,458 2,312 925 -3,174 2,267 -2,672 1,119 1,834 503 1,243 7,969 3,197 36,362 -4,988 -4,988 Net Issuance of Debt
-- -- -- -- -547 -761 -1,064 -1,187 -1,608 -1,964 -2,254 -2,437 -2,601 -2,883 -3,352 -3,735 -3,735 Cash Flow for Dividends
25.00 15.00 25.00 62.00 -153 -209 -192 -484 -781 -11,789 -53.00 -7,978 -5,825 -7,886 -5,870 -458 -458 Other Financing
-2,516 -933 3,546 -316 -2,522 -4,908 -155 -6,201 -4,037 -13,879 -6,020 -9,136 -434 -7,572 27,140 -9,181 -9,181 Cash Flow from Financing
-946 154 292 -276 232 -524 5,313 -4,364 9,331 -9,233 2,192 -1,615 992 156 338 1,680 1,680 Net Change in Cash
-3,660 -3,621 -4,701 -6,564 -6,277 -5,639 -5,497 -6,261 -6,637 -7,605 -8,542 -9,869 -10,687 -11,155 -11,709 -12,428 -12,428 Capital Expenditure
2,422 1,214 1,917 2,228 3,954 4,642 5,682 8,084 8,217 6,555 8,403 9,616 9,004 10,106 12,588 13,269 13,269 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMCSA 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
68.31 96.00 35.28 22.00 19.86 13.38 17.04 15.71 16.31 20.30 18.13 17.42 19.45 8.40 13.51 15.89 14.72 PE Ratio(TTM)
17.01 44.08 18.86 12.59 9.44 9.07 10.62 9.07 11.05 18.08 15.13 12.30 15.72 16.48 11.77 14.69 13.61 Price to Owner Earnings
(TTM)
1.43 1.13 1.78 1.12 1.20 0.97 1.20 1.20 1.80 2.43 2.57 2.63 3.04 2.71 2.15 2.48 2.31 Price to Book
37.85 70.24 46.88 26.46 12.58 10.47 10.91 8.15 12.36 21.14 18.10 14.78 18.71 18.99 12.56 15.61 14.47 Price-to-Free-Cash-Flow
Ratio
14.89 17.78 13.57 6.64 4.86 4.73 5.54 4.59 6.83 9.78 8.97 7.28 8.54 9.02 6.50 8.07 7.47 Price-to-Operating-Cash-
Flow Ratio
4.91 3.96 3.59 1.88 1.45 1.36 1.63 1.18 1.62 2.14 2.21 1.91 2.08 2.25 1.67 1.90 1.77 PS Ratio
-- -- 5.68 0.94 0.71 0.51 0.79 0.90 0.65 0.86 1.17 2.71 -- 1.86 1.41 1.49 1.42 PEG Ratio
4.24 3.15 3.98 2.48 2.32 1.96 2.08 1.70 1.88 2.57 2.61 2.54 2.77 2.92 2.78 2.78 2.65 EV-to-Revenue
10.93 8.12 10.24 6.51 6.08 5.01 5.24 3.78 4.02 7.06 7.77 7.66 8.38 8.68 8.82 8.77 8.33 EV-to-EBITDA
28.78 18.95 21.50 13.76 11.84 9.38 9.55 8.86 8.31 12.14 11.90 11.80 12.96 13.45 14.00 14.03 13.34 EV-to-EBIT
3.47 5.28 4.65 7.27 8.45 10.66 10.47 11.29 12.03 8.24 8.40 8.47 7.72 7.43 7.14 7.13 7.50 Return on Capital %
-4.83 -1.43 7.72 21.86 23.67 25.33 25.43 24.41 25.71 24.53 20.00 11.83 4.38 8.80 15.30 15.66 15.95 Forward Rate of Return
47.53 34.93 47.11 24.59 23.19 22.11 30.08 28.02 33.83 41.27 37.79 30.50 32.19 26.14 19.29 22.38 20.73 Shiller PE Ratio
-- -- -- -- 1.47 1.77 1.71 1.89 1.73 1.51 1.56 1.77 1.60 1.58 2.23 1.82 2.01 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
59,364 45,345 73,088 46,240 48,625 41,312 53,283 56,945 88,950 123,265 135,541 137,582 163,747 186,013 154,109 204,750 189,725 Market Cap
81,417 68,278 99,330 76,752 79,953 69,943 78,856 94,961 117,433 166,185 179,467 189,617 223,723 247,984 262,927 302,615 287,590 Enterprise Value
11.09 8.64 14.11 9.13 8.44 8.43 10.99 11.86 18.68 25.98 29.01 28.22 34.53 40.05 34.05 44.97 41.67 Month End Stock Price
-11.45 -11.83 -12.79 -14.02 -12.38 -14.14 -14.05 -22.67 -21.67 -21.67 -21.82 -22.97 -25.99 -24.85 -38.94 -38.48 -38.48 Net Cash (per share)
-11.16 -11.50 -12.36 -13.51 -11.95 -13.63 -13.47 -21.24 -20.08 -19.82 -19.89 -20.92 -23.24 -22.07 -34.96 -34.11 -34.11 Net Current Asset Value
(per share)
-11.31 -11.69 -12.58 -13.78 -12.17 -13.88 -13.76 -21.95 -20.80 -20.66 -20.81 -21.91 -24.73 -23.42 -37.10 -36.62 -36.62 Net-Net Working Capital
(per share)
6.16 3.53 6.20 7.58 10.07 13.02 15.01 18.85 22.39 24.95 27.99 31.68 29.68 33.61 40.03 47.16 47.16 Projected FCF (per share)
8.21 8.78 16.71 20.61 24.51 24.22 23.68 26.94 24.03 22.88 24.75 27.84 31.16 33.91 38.77 46.54 46.54 Median PS (per share)
-- -- 2.49 9.69 10.63 15.75 13.97 13.24 28.57 30.14 24.70 10.40 15.93 43.42 24.17 30.11 30.11 Peter Lynch Fair Value (per
share)
-5.74 -2.91 -4.00 -4.58 -4.53 -3.27 -1.47 -0.73 4.18 4.10 6.24 6.82 5.03 12.91 7.28 13.24 13.24 Earnings Power Value
(EPV)
0.81 0.72 1.03 0.83 0.90 0.97 1.13 0.98 1.29 1.51 1.67 1.64 1.70 1.97 1.34 1.62 1.58 Altman Z-Score
7.00 6.00 7.00 4.00 6.00 9.00 8.00 7.00 7.00 6.00 9.00 6.00 8.00 5.00 6.00 5.00 5.00 Piotroski F-Score
-2.68 -2.61 -2.39 -2.66 -2.73 -2.70 -3.00 -1.71 -2.54 -2.63 -2.73 -2.74 -2.68 -2.36 -2.53 -2.67 -2.67 Beneish M-Score
0.58 0.60 0.65 0.65 0.63 0.63 0.62 0.72 0.49 0.57 0.61 0.66 0.68 0.72 0.96 0.72 0.70 Scaled Net Operating
Assets
-0.57 -0.15 5.24 2.25 -0.18 -0.66 -1.55 1.47 -4.34 1.37 0.11 0.39 4.02 8.01 15.21 0.84 0.84 Sloan Ratio (%)
0.41 0.44 0.72 0.46 0.42 0.44 1.08 0.65 1.20 0.74 0.78 0.68 0.76 0.74 0.79 0.84 0.84 Current Ratio
0.41 0.44 0.72 0.46 0.42 0.44 1.08 0.65 1.20 0.74 0.78 0.68 0.76 0.74 0.79 0.84 0.84 Quick Ratio
12.04 11.43 14.37 15.03 11.36 9.00 11.13 13.34 19.05 25.98 29.44 32.25 35.51 41.99 42.99 46.97 47.74 Highest Stock Price
8.83 8.64 8.64 8.82 6.54 5.61 7.61 9.89 11.86 18.68 23.98 26.57 26.78 34.53 30.59 34.05 37.89 Lowest Stock Price
20.75 1.95 1.30 2.23 -13.76 14.94 1.07 0.97 0.83 0.36 1.53 -4.35 2.73 2.06 2.55 -0.60 -0.60 Shares Buyback Ratio (%)
5.01 -25.53 85.05 23.29 20.48 6.30 8.54 49.44 14.57 5.35 8.19 12.75 11.91 7.28 14.65 16.03 15.96 YoY Rev. per Sh. Growth
(%)
-69.47 -35.63 323 5.06 3.61 46.51 2.38 16.28 52.00 12.28 25.00 1.25 9.88 167 -46.74 11.86 12.30 YoY EPS Growth (%)
16.83 -24.09 79.71 22.58 18.31 10.71 10.46 69.37 -10.81 0.25 9.00 11.50 11.39 9.00 7.61 16.57 16.60 YoY EBITDA Growth (%)
-3.34 -1.46 7.00 23.34 27.91 26.27 21.66 17.53 24.95 23.55 15.44 6.42 -0.30 4.52 9.59 10.64 10.60 EBITDA 5-Y Growth (%)
6,720 9,885 6,320 6,196 5,878 5,750 5,616 5,492 5,356 5,250 5,166 4,972 4,819 4,708 4,584 4,548 4,560 Shares Outstanding (Basic
Average)
5,353 5,248 5,180 5,065 5,761 4,901 4,848 4,801 4,762 4,745 4,672 4,875 4,742 4,645 4,526 4,553 4,553 Shares Outstanding (EOP)
0.98 0.40 0.74 0.80 0.88 0.83 1.03 1.19 1.38 1.25 0.81 1.08 1.03 1.25 0.96 0.88 0.86 Beta
02/23/05 02/22/06 02/26/07 02/20/08 02/20/09 02/23/10 02/25/11 02/23/12 02/21/13 02/12/14 02/27/15 02/05/16 02/03/17 01/31/18 01/31/19 01/30/20 Filing Date
02/22/06 02/26/07 02/20/08 02/20/08 02/23/10 02/25/11 02/21/13 02/12/14 02/27/15 02/05/16 02/03/17 01/31/18 01/31/19 01/30/20 01/30/20 01/30/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMCSA 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMCSA 7/7
The Hartford Financial Services Group Inc (NYSE:HIG) 03/03/2020 2:00PM EST GuruFocus
Price: $ 51.40 -1.72(-3.24%) Market Cap: $ 18.41 B Enterprise Value: $20.49 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 9.09
Cash to Debt 0.04 Net-margin (%) 10.05
Forward P/E N/A
Equity to Asset 0.23 ROE (%) 13.75
F-Score: PE(NRI) 9.09
ROA (%) 3.10
9999 P/B 1.15
WACC vs 4.59% Revenue Growth (3Y)(%) 11.30
ROIC 14.22% P/S 0.90
WACC EBITDA Growth (3Y)(%) 44.50
ROIC PFCF 5.53
EPS Growth (3Y)(%) 54.00
POCF 5.39
EV-to-EBIT 7.30
PEG 0.78
Shiller P/E 35.66
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year The Hartford Financial Services Group Inc offers a diverse range of property and casualty insurance, group benefits,
and mutual fund services to a customer base of individuals and corporations.... (Read More)
2016 4,410 4,696 4,715 2,470 16,291 Competitors: LSE:AV., BOM:532978 , NAS:ACGL , OHEL:SAMPO, XSWX:SLHN, BSP:BBSE3 , NAS:PFG,
2017 4,169 4,214 4,192 4,587 17,162 XAMS:NN, NYSE:EQH, XTER:TLX, TSX:SLF, OSL:GJF, MIL:G, XBRU:AGS, OCSE:TRYG, NYSE:ATH, BOM:540716,
Good Signs 2018 4,691 4,789 4,842 4,633 18,955 XAMS:AGN, MIL:US, SGX:G07
PE Ratio: Close to 5-year low 2019 4,940 5,092 5,347 5,361 20,740
Insider Trades
2020
PB Ratio: Close to 2-year low
Quarterly Earnings per Share
DCF Mar Jun Sep Dec Full Year
2016 0.79 0.54 1.12 -0.19 2.26
GuruFocus does not 2017 1.00 -0.11 0.64 -10.37 -8.84
calculate intrinsic value: DCF 2018 1.64 1.60 1.19 0.52 4.95
(Earnings Based) for 2019 1.71 1.02 1.43 1.49 5.65
companies with one star 2020
predictability or not rated. But
you can go to each stock's Quarterly Dividends Per Share
DCF page to calculate Mar Jun Sep Dec Full Year
yourself. 2016 0.21 0.21 0.21 0.23 0.86
2017 0.23 0.23 0.23 0.25 0.94
Reverse DCF 2018 0.25 0.25 0.30 0.30 1.10
2019 0.30 0.30 0.30 0.30 1.20
GuruFocus does not
2020
calculate reverse DCF growth
rate for companies with one Growth Rate
star predictability or not rated. Annual Rates(per share) 10-Y 5-Y 12-M
But you can go to each
stock's DCF page to calculate Revenue Growth (%) -0.80 8.40 9.20
yourself. EBITDA Growth (%) 0.00 12.00 29.60
Free Cash Flow Growth (%) 1.40 16.40 24.10
Book Value Growth (%) -1.00 -1.00 24.70
EPS Growth (%) 0.00 0.00 39.40
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HIG 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
76.46 88.62 83.89 81.22 30.06 71.33 45.79 45.47 47.41 42.14 40.45 37.62 41.26 47.19 52.06 56.84 56.84 Revenue per Share
10.26 12.43 14.20 15.86 -12.67 -2.26 7.01 2.88 1.79 4.19 5.11 5.17 2.97 3.95 6.92 8.96 8.96 EBITDA per Share
9.34 10.59 12.28 13.38 -13.85 -3.62 5.77 1.48 0.79 3.81 4.51 4.29 1.96 2.86 5.63 7.73 7.73 EBIT per Share
7.12 7.44 8.69 9.24 -8.99 -2.93 2.40 1.40 -0.18 0.36 1.73 3.96 2.27 -8.61 4.95 5.66 5.65 Earnings per Share (diluted)
7.20 7.44 8.69 9.24 -8.99 -2.93 2.53 1.11 0.38 2.50 2.93 2.80 1.55 -0.72 4.06 5.66 5.65 eps without NRI
13.00 11.91 19.39 21.56 -11.77 -2.57 4.77 3.66 -0.47 -2.18 0.93 5.08 3.33 -6.61 6.14 9.75 9.75 Owner Earnings per Share (TTM)
8.26 11.52 17.23 17.91 12.75 8.59 6.87 4.76 5.61 2.39 3.84 5.76 4.67 5.32 7.47 9.27 9.27 Free Cashflow per Share
1.13 1.17 1.70 2.03 1.91 0.20 0.20 0.40 0.40 0.50 0.66 0.78 0.86 0.94 1.10 1.20 1.20 Dividends per Share
48.39 50.72 58.38 61.16 28.50 38.92 44.44 47.30 50.17 41.71 44.11 43.91 45.20 37.82 35.55 44.32 44.32 Book Value per Share
42.55 45.03 53.07 55.66 25.24 35.77 42.07 44.90 48.68 40.61 42.93 42.67 43.57 32.35 30.13 36.02 36.02 Tangible Book per Share
16.75 15.78 13.49 14.35 22.85 18.21 15.72 14.76 16.70 14.44 14.39 13.34 13.13 14.01 13.03 13.48 13.48 Total Debt per Share
69.31 85.89 93.31 87.19 16.42 23.26 26.49 16.25 22.44 36.23 41.69 43.46 47.65 56.28 44.45 60.77 51.40 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.35 15.38 16.05 15.49 -19.37 -7.47 5.87 3.21 -0.36 0.80 4.24 9.25 5.19 -20.60 13.54 14.05 13.75 Return on Equity %
0.87 0.83 0.90 0.86 -0.85 -0.30 0.52 0.23 -0.01 0.06 0.31 0.71 0.40 -1.39 1.26 3.13 3.10 Return on Assets %
14.54 14.26 16.52 16.40 -20.30 -7.42 14.31 11.79 -4.50 7.28 8.33 7.29 5.27 -2.11 11.81 14.63 14.22 Return on Invested Capital %
11.55 14.24 12.90 10.25 12.32 16.12 16.23 9.08 22.91 22.47 10.66 4.66 4.27 5.83 5.92 5.35 4.59 Weighted Average Cost Of Capital (WACC) %
4.74 5.20 6.07 5.93 5.75 6.61 7.28 7.52 6.62 5.74 5.94 6.03 6.37 6.38 6.16 5.44 5.58 Effective Interest Rate on Debt %
9.31 8.40 10.36 11.38 -29.82 -3.59 7.42 3.28 -0.17 0.85 4.29 10.51 5.50 -18.24 9.53 10.05 10.05 Net Margin %
10.81 13.00 20.54 22.06 42.41 12.04 15.01 10.46 11.84 5.67 9.48 15.31 11.31 11.28 14.36 16.32 16.32 FCF Margin %
0.35 0.31 0.23 0.24 0.80 0.39 0.34 0.30 0.33 0.35 0.33 0.30 0.29 0.37 0.36 0.30 0.30 Debt to Equity
0.06 0.05 0.06 0.05 0.03 0.06 0.06 0.07 0.08 0.07 0.08 0.08 0.08 0.06 0.21 0.23 0.23 Total Equity to Total Asset
0.02 0.02 0.01 0.01 0.03 0.02 0.02 0.02 0.02 0.02 0.03 0.02 0.02 0.02 0.08 0.07 0.07 Total Debt to Total Asset
9.35 9.93 8.66 7.55 2.85 8.30 7.04 7.00 7.35 7.17 7.12 6.76 7.19 7.63 13.18 31.16 30.85 Gross Profit to Total Asset %
0.09 0.10 0.09 0.08 0.03 0.08 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.08 0.13 0.31 0.31 Asset Turnover
0.16 0.16 0.20 0.22 -- -- 0.08 0.36 1.05 0.20 0.23 0.28 0.56 -- 0.27 0.21 0.21 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HIG 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
22,708 27,083 26,500 25,916 9,219 24,701 22,049 21,733 22,086 20,673 18,614 15,997 16,291 17,162 18,955 20,740 20,740 Revenue
22,708 27,083 26,500 25,916 9,219 24,701 22,049 21,733 22,086 20,673 18,614 15,997 16,291 17,162 18,955 20,740 20,740 Gross Profit
-- -- -- -- 3,993 4,635 4,663 4,398 -- -- -- -- -- -- -- -- -- Selling, General, & Admin. Expense
22,708 27,083 26,500 25,916 5,226 20,066 17,386 17,335 22,086 20,673 18,614 15,997 16,291 17,162 18,955 20,740 20,740 Other Operating Expense
-251 -252 -277 -263 -343 -476 -508 -508 -457 -397 -376 -346 -327 -316 -298 -259 -259 Interest Expense
-251 -252 -277 -263 -343 -476 -508 -508 -457 -397 -376 -346 -327 -316 -298 -259 -259 Net Interest Income
2,523 2,985 3,602 4,005 -4,591 -1,728 2,272 200 -89.00 1,471 1,699 1,478 447 723 1,753 2,560 2,560 Other Income (Expense)
2,523 2,985 3,602 4,005 -4,591 -1,728 2,272 200 -89.00 1,471 1,699 1,478 447 723 1,753 2,560 2,560 Pre-Tax Income
-385 -711 -857 -1,056 1,842 841 -572 373 309 -246 -350 -289 166 -985 -268 -475 -475 Tax Provision
15.26 23.82 23.79 26.37 40.12 48.67 25.18 -187 347 16.72 20.60 19.55 -37.14 136 15.29 18.55 18.55 Tax Rate %
2,138 2,274 2,745 2,949 -2,749 -887 1,700 573 220 1,225 1,349 1,189 613 -262 1,485 2,085 2,085 Net Income (Continuing Operations)
-- -- -- -- -- -- -64.00 139 -258 -1,049 -551 493 283 -2,869 322 -- -- Net Income (Discontinued
Operations)
2,115 2,274 2,745 2,949 -2,749 -887 1,636 712 -38.00 176 798 1,682 896 -3,131 1,807 2,085 2,085 Net Income
9.31 8.40 10.36 11.38 -29.82 -3.59 7.42 3.28 -0.17 0.85 4.29 10.51 5.50 -18.24 9.53 10.05 10.05 Net Margin %
-- -- -- -- 8.00 127 515 42.00 42.00 10.00 -- -- -- -- 6.00 21.00 21.00 Preferred dividends
7.24 7.63 8.89 9.32 -8.99 -2.93 2.60 1.51 -0.18 0.37 1.81 4.05 2.31 -8.61 5.03 5.72 5.73 EPS (Basic)
7.12 7.44 8.69 9.24 -8.99 -2.93 2.40 1.40 -0.18 0.36 1.73 3.96 2.27 -8.61 4.95 5.66 5.65 EPS (Diluted)
297 306 316 319 307 346 482 478 466 491 460 425 395 364 364 365 364 Shares Outstanding (Diluted
Average)
274 561 606 794 361 470 596 668 467 189 276 373 398 399 467 451 451 Depreciation, Depletion and
Amortization
3,048 3,798 4,485 5,062 -3,887 -782 3,376 1,376 835 2,057 2,351 2,197 1,172 1,438 2,518 3,270 3,270 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HIG 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,148 1,273 1,424 2,011 1,811 2,142 2,062 2,581 2,421 1,428 399 448 328 180 112 185 185 Cash And Cash Equivalents
1,006 1,253 3,596 1,602 10,022 10,357 8,528 7,736 4,581 4,008 4,883 1,843 1,895 2,270 4,283 2,921 2,921 Marketable Securities
2,154 2,526 5,020 3,613 11,833 12,499 10,590 10,317 7,002 5,436 5,282 2,291 2,223 2,450 4,395 3,106 3,106 Cash, Cash Equivalents,
Marketable Securities
3,235 -- -- 3,681 -- 3,404 3,273 8,214 8,208 26,795 26,349 26,726 7,389 7,971 8,352 9,911 9,911 Accounts Receivable
11,567 8,886 14,266 7,294 11,833 15,903 13,863 18,531 15,210 32,231 31,631 29,017 9,612 10,421 12,747 13,017 13,017 Total Current Assets
90,572 103,188 113,802 120,434 107,412 115,052 120,790 122,293 121,413 87,822 65,802 62,663 35,233 40,287 41,171 46,737 46,737 Investments And Advances
643 683 791 972 1,075 1,026 1,150 1,029 977 877 831 974 991 1,034 1,006 1,181 1,181 Gross Property, Plant and
Equipment
643 683 791 972 1,075 1,026 1,150 1,029 977 877 831 974 991 1,034 1,006 1,181 1,181 Property, Plant and Equipment
1,720 1,720 1,717 1,726 1,060 1,204 1,051 1,061 654 498 498 498 611 1,949 1,947 2,983 2,983 Intangible Assets
1,720 1,720 1,717 -- 1,060 1,204 1,051 1,006 654 498 498 498 567 1,290 1,290 1,913 1,913 Goodwill
155,233 171,080 195,968 229,935 166,203 174,532 181,492 159,695 160,259 156,456 146,251 135,196 178,129 171,569 5,436 6,899 6,899 Other Long Term Assets
259,735 285,557 326,544 360,361 287,583 307,717 318,346 302,609 298,513 277,884 245,013 228,348 224,576 225,260 62,307 70,817 70,817 Total Assets
-- -- 71,311 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Accounts Payable & Accrued
Expense
621 719 857 1,365 398 343 400 -- 320 438 456 275 416 320 413 500 500 Current Portion of Long-Term
Debt
621 719 72,168 1,365 398 343 400 -- 320 438 456 275 416 320 413 500 500 Total Current Liabilities
4,308 4,048 3,504 3,142 7,033 6,632 6,589 6,530 6,967 6,106 5,653 5,084 4,494 4,678 4,265 4,348 4,348 Long-Term Debt
4,308 4,048 3,504 3,142 7,033 6,632 6,589 6,530 6,967 6,106 5,653 5,084 4,494 4,678 4,265 4,348 4,348 Long-Term Debt & Capital Lease
Obligation
0.35 0.31 0.23 0.24 0.80 0.39 0.34 0.30 0.33 0.35 0.33 0.30 0.29 0.37 0.36 0.30 0.30 Debt to Equity
-- -- -- -- 92.00 29.00 -- -- -- -- -- -- -- -- -- -- -- Minority Interest
240,568 265,465 231,996 336,650 270,792 282,848 291,046 274,593 268,779 252,435 220,184 205,347 202,763 206,768 44,528 49,699 49,699 Other Long-Term Liabilities
245,497 270,232 307,668 341,157 278,223 289,823 298,035 281,123 276,066 258,979 226,293 210,706 207,673 211,766 49,206 54,547 54,547 Total Liabilities
3.00 3.00 3.00 3.00 3.00 4.00 5.00 5.00 5.00 5.00 5.00 5.00 4.00 4.00 4.00 4.00 4.00 Common Stock
-- -- -- -- -- 2,960 556 556 556 -- -- -- -- -- 334 334 334 Preferred Stock
8,283 10,207 12,421 14,686 11,336 11,164 12,077 11,001 10,745 10,683 11,191 12,550 13,114 9,642 11,055 12,685 12,685 Retained Earnings
1,425 90.00 178 -858 -7,520 -3,312 -1,001 1,251 2,843 -79.00 928 -329 -337 663 -1,579 52.00 52.00 Accumulated other
comprehensive income (loss)
4,567 5,067 6,321 6,627 7,569 8,985 10,448 10,391 10,038 9,894 9,123 8,973 5,247 4,379 4,378 4,312 4,312 Additional Paid-In Capital
-40.00 -42.00 -47.00 -1,254 -2,120-1,936 -1,774 -1,718 -1,740 -1,598 -2,527 -3,557 -1,125 -1,194 -1,091 -1,117 -1,117 Treasury Stock
14,238 15,325 18,876 19,204 9,268 17,865 20,311 21,486 22,447 18,905 18,720 17,642 16,903 13,494 13,101 16,270 16,270 Total Equity
0.06 0.05 0.06 0.05 0.03 0.06 0.06 0.07 0.08 0.07 0.08 0.08 0.08 0.06 0.21 0.23 0.23 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HIG 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,115 2,274 2,745 2,949 -2,749 -887 1,636 712 -38.00 176 798 1,682 896 -3,131 1,807 2,085 2,085 Net Income
2,115 2,274 2,745 2,949 -2,749 -887 1,636 712 -38.00 176 798 1,682 896 -3,131 1,807 2,085 2,085 Net Income From Continuing
Operations
274 561 606 794 361 470 596 668 467 189 276 373 398 399 467 451 451 Depreciation, Depletion and
Amortization
-267 -1,043 1,037 128 -4.00 380 790 -242 -608 -970 -22.00 176 272 -935 -323 -81.00 -81.00 Change In Receivables
-11.00 -267 -287 306 -2,259 -1,517 -612 -491 874 497 -937 -704 -- -- -- -- -- Change In Payables And Accrued
Expense
1,128 1,021 2,382 2,897 -937 -343 604 625 -319 -1,308 -550 265 193 583 154 1,195 1,195 Change In Working Capital
529 168 657 619 -- -- -- -- -- -- -- -- -- -- -- -- -- Change In DeferredTax
-1,412 -292 -752 -1,268 6,772 3,702 320 239 2,571 2,180 1,362 436 579 4,335 415 -242 -242 Cash Flow from Others
2,634 3,732 5,638 5,991 4,192 2,974 3,309 2,274 2,681 1,237 1,886 2,756 2,066 2,186 2,843 3,489 3,489 Cash Flow from Operations
-180 -211 -195 -275 -282 -- -- -- -66.00 -64.00 -121 -307 -224 -250 -122 -105 -105 Purchase Of Property, Plant,
Equipment
-58.00 -8.00 -767 -- -- -- -348 -784 -903 -353 -312 -620 -616 -1,932 -481 -2,204 -2,204 Purchase Of Business
-- 16.00 -- -- 438 391 608 515 266 1,183 1,453 624 779 496 1,548 238 238 Sale Of Business
-27,950 -42,685 -44,565 -43,706 -33,422 -54,653 -51,383 -38,907 -45,569 -38,016 -23,587 -29,622 -24,224 -32,019 -28,357 -21,197 -21,197 Purchase Of Investment
25,787 43,331 36,492 36,220 26,713 54,487 49,500 39,256 44,694 41,180 24,250 30,517 25,433 32,604 25,953 21,611 21,611 Sale Of Investment
-- -5,303 1,625 1,585 -2,274 -3,348 1,189 -1,262 -979 -185 13.00 -107 -199 -341 -503 -491 -491 Cash From Other Investing Activities
-2,401 -4,860 -7,410 -6,176 -8,827 -3,123 -434 -1,182 -2,557 3,745 1,696 485 949 -1,442 -1,962 -2,148 -2,148 Cash Flow from Investing
413 2.00 5.00 186 -- 887 1,600 10.00 -- -- -- -- -- -- -- -- -- Issuance of Stock
-2.00 -2.00 -- -1,379 -1,000 -- -- -46.00 -154 -600 -1,796 -1,250 -1,330 -1,028 -- -200 -- Repurchase of Stock
-- -- -- -- -- 3,400 -2,844 -- -- -- -- -- -- -- 334 -- -- Net Issuance of Preferred Stock
-730 -150 -340 1,121 1,678 -17,611 -7.00 -473 -163 -882 -213 -806 -292 71.00 -338 -207 -207 Net Issuance of Debt
-325 -345 -460 -636 -660 -222 -170 -195 -217 -223 -282 -316 -334 -341 -379 -454 -454 Cash Flow for Dividends
1,121 1,775 2,715 1,207 4,256 14,069 -1,534 105 306 -4,115 -2,185 -772 -585 319 -1,084 -330 -530 Other Financing
477 1,280 1,915 499 4,274 523 -2,955 -609 -228 -5,820 -4,476 -3,144 -2,541 -979 -1,467 -1,191 -1,191 Cash Flow from Financing
686 125 151 587 -200 331 -80.00 519 -160 -993 -1,029 49.00 434 -165 -596 141 141 Net Change in Cash
-180 -211 -195 -275 -282 -- -- -- -66.00 -64.00 -121 -307 -224 -250 -122 -105 -105 Capital Expenditure
2,454 3,521 5,443 5,716 3,910 2,974 3,309 2,274 2,615 1,173 1,765 2,449 1,842 1,936 2,721 3,384 3,384 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HIG 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9.72 11.53 10.74 9.44 -- -- 11.77 11.78 -- 145 24.38 11.00 21.08 -- 8.98 10.76 9.09 PE Ratio(TTM)
5.33 7.21 4.81 4.04 -- -- 5.56 4.44 -- -- 45.07 8.56 14.29 -- 7.23 6.23 5.28 Price to Owner Earnings
(TTM)
1.43 1.69 1.60 1.43 0.58 0.60 0.60 0.34 0.45 0.87 0.95 0.99 1.05 1.49 1.25 1.37 1.15 Price to Book
1.63 1.91 1.76 1.57 0.65 0.65 0.63 0.36 0.46 0.89 0.97 1.02 1.09 1.74 1.48 1.69 1.43 Price to Tangible Book
8.41 7.46 5.41 4.87 1.26 2.62 3.90 3.44 3.99 14.06 10.70 7.52 10.15 10.61 5.95 6.55 5.53 Price-to-Free-Cash-Flow
Ratio
7.83 7.04 5.23 4.64 1.20 2.62 3.90 3.44 3.99 14.06 10.01 6.69 9.06 9.39 5.69 6.36 5.39 Price-to-Operating-Cash-
Flow Ratio
0.91 0.97 1.11 1.07 0.56 0.32 0.56 0.36 0.48 0.72 1.03 1.16 1.16 1.20 0.85 1.07 0.90 PS Ratio
-- -- -- -- -- -- -- -- -- -- -- 1.14 0.98 -- -- 1.18 0.78 PEG Ratio
1.02 1.04 1.11 1.09 0.11 0.26 0.40 0.18 0.48 0.75 0.99 1.28 1.26 1.32 0.87 1.15 0.99 EV-to-Revenue
7.60 7.42 6.58 5.59 -0.27 -8.15 2.59 2.88 12.42 13.34 7.88 9.35 17.50 15.74 6.59 7.32 6.25 EV-to-EBITDA
8.35 8.71 7.61 6.62 -0.24 -5.09 3.14 5.59 27.33 15.58 8.93 11.26 26.49 21.78 8.08 8.49 7.30 EV-to-EBIT
11.98 11.48 13.14 15.11 -417 -19.65 31.85 17.89 3.66 6.42 11.20 8.88 3.78 4.59 12.38 11.78 13.75 Return on Capital %
14.52 12.09 12.97 15.75 82.35 56.18 40.64 45.05 16.65 3.30 -- 20.42 29.57 18.15 10.80 19.95 21.51 Forward Rate of Return
-- 20.59 17.85 15.45 3.92 6.67 8.22 5.12 8.30 12.64 19.33 25.99 53.28 -- 89.55 42.17 35.66 Shiller PE Ratio
1.63 1.36 1.82 2.33 11.63 0.86 0.76 2.46 1.78 1.38 1.58 1.79 1.80 1.67 2.47 1.97 2.38 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
20,392 25,952 30,169 27,379 5,340 8,909 11,776 7,191 9,791 16,423 17,694 17,463 17,819 20,083 15,964 21,853 18,414 Market Cap
23,167 28,193 29,510 28,273 1,030 6,374 8,731 3,960 10,632 17,531 18,521 20,531 20,506 22,631 16,581 23,929 20,490 Enterprise Value
69.31 85.89 93.31 87.19 16.42 23.26 26.49 16.25 22.44 36.23 41.69 43.46 47.65 56.28 44.45 60.77 51.40 Month End Stock Price
-827 -886 -936 -1,075 -819 -724 -647 -612 -617 -559 -521 -519 -549 -587 -125 -143 -143 Net Cash (per share)
-819 -886 -936 -1,066 -819 -725 -642 -599 -604 -515 -474 -469 -535 -570 -108 -123 -123 Net-Net Working Capital (per
share)
112 127 150 167 156 137 103 117 93.29 84.91 84.79 86.26 85.89 83.15 80.86 104 104 Projected FCF (per share)
-- 76.37 75.86 75.59 27.46 66.74 42.58 37.85 37.08 33.18 26.82 24.84 27.25 30.99 37.19 53.31 53.31 Median PS (per share)
-- -- 81.53 -- -- -- -- -- -- -- -- 37.99 38.25 -8.09 32.70 51.42 51.42 Peter Lynch Fair Value (per
share)
83.02 86.82 102 108 -- -- 48.94 33.49 20.40 47.79 53.20 51.85 38.98 -- 52.46 67.73 67.67 Graham Number (per share)
-13.94 -11.06 -1.33 -7.05 8.45 10.38 3.24 6.51 -16.25 -13.45 -13.96 -17.45 -19.67 -8.03 -0.21 -3.28 -3.28 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-- -- -- -- -- -0.93 -2.57 -1.11 -2.37 -0.27 -2.55 -2.45 -3.10 -2.44 -- -- -- Beneish M-Score
0.08 0.07 0.08 0.07 0.04 0.08 0.08 0.08 0.09 0.08 0.09 0.09 0.09 0.08 0.08 0.34 0.30 Scaled Net Operating
Assets
0.72 1.19 1.38 0.87 0.66 -0.24 -0.39 -0.13 -0.05 -1.73 -1.14 -0.68 -0.94 -1.72 1.49 1.05 1.05 Sloan Ratio (%)
69.31 89.00 93.61 106 87.19 29.20 29.64 30.80 22.88 36.62 42.27 49.53 48.58 57.65 59.11 62.59 62.75 Highest Stock Price
53.29 65.51 79.24 85.44 4.95 3.62 19.09 14.92 15.93 22.44 32.18 38.90 37.63 47.05 40.76 42.82 47.50 Lowest Stock Price
-3.82 -2.70 -7.00 2.88 -3.57 -17.77 -16.07 0.45 1.41 -3.89 6.37 5.32 6.94 4.58 -0.65 -0.13 -0.13 Shares Buyback Ratio (%)
11.18 15.91 -5.34 -3.18 -62.99 137 -35.80 -0.71 4.26 -11.11 -4.01 -6.99 9.68 14.35 10.33 9.18 9.18 YoY Rev. per Sh. Growth
(%)
2,258 4.49 16.80 6.33 -197 67.41 182 -41.67 -113 300 381 129 -42.68 -479 157 14.34 14.14 YoY EPS Growth (%)
4,765 21.10 14.24 11.73 -180 82.18 411 -58.94 -37.76 134 21.85 1.14 -42.54 33.18 74.91 29.57 29.58 YoY EBITDA Growth (%)
-- -- -- -- -- -- -- -- -- -- -- 9.66 31.79 10.33 -1.13 9.10 12.00 EBITDA 5-Y Growth (%)
292 298 309 316 307 346 432 445 438 448 442 416 388 364 358 361 361 Shares Outstanding (Basic
Average)
294 302 323 314 325 383 445 443 436 453 424 402 374 357 359 360 360 Shares Outstanding (EOP)
1.48 1.95 1.58 1.21 2.92 3.52 3.21 2.95 2.00 2.11 1.77 1.06 0.89 0.68 0.67 0.59 0.58 Beta
02/28/05 02/24/06 02/23/07 02/22/08 02/12/09 02/23/10 02/25/11 02/24/12 03/01/13 02/28/14 02/27/15 02/26/16 02/24/17 02/23/18 02/22/19 02/21/20 Filing Date
02/24/06 02/23/07 02/22/08 02/12/09 02/23/10 02/25/11 03/01/13 02/28/14 02/27/15 02/26/16 02/24/17 02/23/18 02/22/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HIG 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HIG 7/7
National Oilwell Varco Inc (NYSE:NOV) 03/03/2020 2:00PM EST GuruFocus
Price: $ 18.97 -0.85(-4.29%) Market Cap: $ 7.32 B Enterprise Value: $9 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.42 Operating margin (%) -5.40
P/B 0.92
Equity to Asset 0.59 Net-margin (%) -71.88
F-Score: P/S 0.84
ROE (%) -58.80
3 PFCF 15.06
Z-Score: ROA (%) -37.48
0.34 POCF 10.16
ROC (Joel Greenblatt) (%) -109.89
M-Score: EV-to-EBIT -1.42
-2.80 Revenue Growth (3Y)(%) 4.80
Shiller P/E 65.32
EBITDA Growth (3Y)(%) -46.80
Current Ratio 2.72
EPS Growth (3Y)(%) -35.50
Quick Ratio 1.74
Days Inventory 131.09
Days Sales Outstanding 79.85
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year National Oilwell Varco is a leading supplier of oil and gas drilling rig equipment and products, such as downhole tools,
Insider Sell: Insider Selling
drill pipe, and well casing. The company operates on a global scale, with more than a thousand locations in six
2016 2,189 1,724 1,646 1,692 7,251 continents.... (Read More)
2017 1,741 1,759 1,835 1,969 7,304 Competitors: SHSE:601808 , XPAR:FTI, XAMS:VPK, MIL:TEN, SZSE:002353 , ASX:WOR, XKLS:7277 ,
Good Signs 2018 1,795 2,106 2,154 2,398 8,453 SHSE:600583, MIL:SPM, OSL:AKER, SHSE:600968, XPAR:GTT, XAMS:SBMO, OSL:SUBC, OSL:TGS,
SHSE:600339, XPAR:CGG, NYSE:WHD, NYSE:APY, LSE:PFC
Dividend Yield %: Close to 3- 2019 1,940 2,132 2,126 2,281 8,479
year high 2020 Insider Trades
Price: Close to 10-year low Quarterly Earnings per Share
PS Ratio: Close to 3-year low Mar Jun Sep Dec Full Year
2016 -0.32 -0.58 -3.62 -1.90 -6.42
2017 -0.32 -0.20 -0.07 -0.04 -0.63
DCF 2018 -0.18 0.06 0.00 0.03 -0.09
GuruFocus does not 2019 -0.20 -14.11 -0.64 -1.01 -15.96
calculate intrinsic value: DCF 2020
(Earnings Based) for Quarterly Dividends Per Share
companies with one star
predictability or not rated. But Mar Jun Sep Dec Full Year
you can go to each stock's 2016 0.46 0.05 0.05 0.05 0.61
DCF page to calculate 2017 0.05 0.05 0.05 0.05 0.20
yourself. 2018 0.05 0.05 0.05 0.05 0.20
2019 0.05 0.05 0.05 0.05 0.20
2020
Reverse DCF
Growth Rate
GuruFocus does not
calculate reverse DCF growth Annual Rates(per share) 10-Y 5-Y 12-M
rate for companies with one Revenue Growth (%) -5.30 -14.90 -0.70
star predictability or not rated.
EBITDA Growth (%) 0.00 0.00 -800.00
But you can go to each
stock's DCF page to calculate Free Cash Flow Growth (%) -8.90 -24.40 71.80
yourself. Book Value Growth (%) -3.30 -3.30 -43.50
EPS Growth (%) 0.00 0.00 0.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NOV 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
13.40 14.68 19.87 27.54 33.66 30.48 29.01 34.57 40.27 44.91 49.86 38.13 19.29 19.37 22.36 22.20 22.22 Revenue per Share
10.43 1.87 3.60 6.36 8.60 6.60 7.05 8.30 9.38 9.28 10.18 0.67 -4.83 1.08 2.18 -15.26 -15.26 EBITDA per Share
10.17 1.51 3.14 5.75 7.59 5.42 5.84 6.99 7.94 7.56 8.37 -1.26 -6.70 -0.77 0.35 -16.65 -16.66 EBIT per Share
0.67 0.91 1.94 3.76 4.90 3.52 3.98 4.70 5.83 5.44 5.82 -1.99 -6.41 -0.63 -0.08 -15.96 -15.96 Earnings per Share (diluted)
0.67 0.91 1.94 3.76 4.90 3.52 3.98 4.70 5.58 5.09 5.70 -1.99 -6.41 -0.63 -0.08 -15.96 -15.96 eps without NRI
0.91 -0.01 3.17 2.86 5.02 4.27 2.85 4.25 0.80 6.42 4.16 -3.21 -3.43 0.52 0.11 -16.21 -16.21 Owner Earnings per Share (TTM)
0.74 -0.09 2.87 2.63 4.80 4.42 3.13 3.92 0.12 6.50 4.45 2.27 1.80 1.70 0.73 1.26 1.26 Free Cashflow per Share
-- -- -- -- -- 0.10 0.41 0.45 0.49 0.91 1.64 1.84 0.61 0.20 0.20 0.20 0.20 Dividends per Share
7.39 12.03 14.31 18.67 30.26 33.73 37.39 41.56 47.41 51.89 49.39 43.60 36.82 37.08 36.04 20.36 20.36 Book Value per Share
3.14 4.20 5.91 9.65 7.44 10.93 13.90 17.45 19.50 18.97 18.40 14.78 11.47 12.01 11.83 10.78 10.78 Tangible Book per Share
2.91 2.41 2.39 2.50 2.09 2.11 2.11 1.20 7.38 7.35 7.56 10.40 8.49 7.14 7.07 7.27 7.27 Total Debt per Share
15.90 28.25 27.57 66.20 22.03 39.73 60.61 61.27 61.60 71.67 65.53 33.49 37.44 36.02 25.70 25.05 18.97 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9.76 10.50 14.84 22.89 20.24 10.99 11.17 11.95 13.16 10.96 11.66 -4.15 -15.91 -1.69 -0.22 -56.44 -58.80 Return on Equity %
4.78 6.20 8.71 12.65 11.62 6.83 7.48 8.21 8.74 7.02 7.32 -2.58 -10.24 -1.15 -0.15 -37.00 -37.48 Return on Assets %
203 29.51 45.77 75.08 127 86.26 64.15 62.85 49.14 38.95 47.77 -6.87 -36.83 -4.70 2.29 -116 -110 Return on Capital %
90.46 9.94 15.00 25.45 21.76 13.38 13.08 14.19 13.81 10.58 12.31 8.74 -7.77 -1.07 -0.74 -3.51 -3.52 Return on Invested Capital %
7.81 8.55 11.56 8.44 12.65 11.79 12.19 10.73 14.28 14.89 9.20 6.18 6.84 6.82 9.04 9.96 8.49 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 7.59 6.03 5.65 5.73 2.68 3.52 3.32 2.91 2.95 3.44 3.43 3.64 3.25 Effective Interest Rate on Debt %
21.73 21.26 25.06 28.91 30.32 29.77 31.52 30.68 29.33 26.55 27.09 20.76 -1.39 12.21 17.08 9.97 9.97 Gross Margin %
75.92 10.27 15.81 20.88 21.73 19.37 20.13 20.04 19.71 16.64 17.34 8.80 -19.85 -3.79 2.50 -5.40 -5.40 Operating Margin %
4.97 6.18 9.74 13.66 14.53 11.56 13.71 13.60 14.49 12.11 11.67 -5.21 -33.26 -3.24 -0.37 -71.88 -71.88 Net Margin %
5.49 -0.59 14.47 9.56 14.26 14.51 10.78 11.32 0.30 14.48 8.93 5.96 9.32 8.76 3.28 5.67 5.67 FCF Margin %
0.39 0.20 0.17 0.13 0.07 0.06 0.06 0.03 0.16 0.14 0.15 0.24 0.23 0.19 0.20 0.36 0.36 Debt to Equity
0.49 0.63 0.56 0.55 0.59 0.66 0.68 0.69 0.64 0.64 0.62 0.63 0.66 0.70 0.70 0.59 0.59 Total Equity to Total Asset
0.19 0.13 0.09 0.07 0.04 0.04 0.04 0.02 0.10 0.09 0.09 0.15 0.15 0.13 0.14 0.21 0.21 Total Debt to Total Asset
20.91 21.33 22.43 26.78 24.24 17.60 17.19 18.52 17.70 15.40 16.99 10.29 -0.43 4.31 7.22 5.13 5.20 Gross Profit to Total Asset %
0.96 1.00 0.90 0.93 0.80 0.59 0.55 0.60 0.60 0.58 0.63 0.50 0.31 0.35 0.42 0.52 0.52 Asset Turnover
-- -- -- -- -- 0.03 0.10 0.10 0.09 0.18 0.29 -- -- -- -- -- -- Dividend Payout Ratio
75.59 116 99.93 102 16.79 62.80 72.81 81.95 91.71 92.97 75.18 72.37 105 101 90.72 79.85 79.85 Days Sales Outstanding
82.02 56.71 74.15 105 118 23.88 27.54 32.37 36.05 32.97 27.76 19.45 20.55 29.03 37.60 34.19 34.19 Days Accounts Payable
119 91.50 105 115 124 149 151 133 149 149 127 155 199 180 156 124 131 Days Inventory
112 151 131 113 23.70 188 196 183 205 209 175 208 283 252 209 170 177 Cash Conversion Cycle
3.07 3.99 3.48 3.16 2.93 2.45 2.42 2.74 2.45 2.46 2.87 2.35 1.84 2.03 2.34 2.95 2.78 Inventory Turnover
0.78 0.79 0.75 0.71 0.70 0.70 0.68 0.69 0.71 0.73 0.73 0.79 1.01 0.88 0.83 0.90 0.90 COGS to Revenue
0.26 0.20 0.22 0.23 0.24 0.29 0.28 0.25 0.29 0.30 0.25 0.34 0.55 0.43 0.35 0.31 0.32 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NOV 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,318 4,645 7,026 9,789 13,431 12,712 12,156 14,658 17,194 19,221 21,440 14,757 7,251 7,304 8,453 8,479 8,479 Revenue
1,814 3,657 5,265 6,959 9,359 8,928 8,324 10,161 12,151 14,117 15,631 11,694 7,352 6,412 7,009 7,634 7,634 Cost of Goods Sold
504 987 1,761 2,830 4,072 3,784 3,832 4,497 5,043 5,104 5,809 3,063 -101 892 1,444 845 845 Gross Profit
21.73 21.26 25.06 28.91 30.32 29.77 31.52 30.68 29.33 26.55 27.09 20.76 -1.39 12.21 17.08 9.97 9.97 Gross Margin %
328 479 642 786 1,154 1,322 1,385 1,560 1,654 1,905 2,092 1,764 1,338 1,169 1,233 1,303 1,303 Selling, General, & Admin. Expense
-1,584 31.70 7.90 -0.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Other Operating Expense
1,760 477 1,111 2,044 2,918 2,462 2,447 2,937 3,389 3,199 3,717 1,299 -1,439 -277 211 -458 -458 Operating Income
75.92 10.27 15.81 20.88 21.73 19.37 20.13 20.04 19.71 16.64 17.34 8.80 -19.85 -3.79 2.50 -5.40 -5.40 Operating Margin %
-- -- -- -- 45.00 9.00 13.00 18.00 10.00 12.00 18.00 14.00 15.00 25.00 25.00 20.00 20.00 Interest Income
-- -- -- -- -67.00 -53.00 -50.00 -40.00 -49.00 -111 -105 -103 -105 -102 -93.00 -100.00 -100.00 Interest Expense
-- -- -- -- -22.00 -44.00 -37.00 -22.00 -39.00 -99.00 -87.00 -89.00 -90.00 -77.00 -68.00 -80.00 -80.00 Net Interest Income
-1,621 -46.80 -61.90 -15.50 65.00 -210 -13.00 7.00 -10.00 24.00 -136 -1,799 -1,094 -38.00 -102 -5,924 -5,924 Other Income (Expense)
-2.10 -4.20 -9.50 -16.00 -16.00 -4.00 8.00 9.00 8.00 -1.00 -5.00 -2.00 4.00 -1.00 -9.00 -2.00 -5.00 Other Income (Minority Interest)
139 430 1,049 2,029 2,961 2,208 2,397 2,922 3,340 3,124 3,494 -589 -2,623 -392 41.00 -6,462 -6,462 Pre-Tax Income
-21.60 -139 -356 -676 -993 -735 -738 -937 -965 -943 -1,039 -178 207 156 -63.00 369 369 Tax Provision
15.55 32.30 33.90 33.31 33.54 33.29 30.79 32.07 28.89 30.19 29.74 -30.22 7.89 39.80 154 5.71 5.71 Tax Rate %
115 287 684 1,337 1,968 1,473 1,659 1,985 2,375 2,181 2,455 -767 -2,416 -236 -22.00 -6,093 -6,093 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -- 108 147 52.00 -- -- -- -- -- -- Net Income (Discontinued
Operations)
115 287 684 1,337 1,952 1,469 1,667 1,994 2,491 2,327 2,502 -769 -2,412 -237 -31.00 -6,095 -6,095 Net Income
4.97 6.18 9.74 13.66 14.53 11.56 13.71 13.60 14.49 12.11 11.67 -5.21 -33.26 -3.24 -0.37 -71.88 -71.88 Net Margin %
0.67 0.92 1.95 3.77 4.91 3.53 3.99 4.73 5.86 5.46 5.85 -1.99 -6.41 -0.63 -0.08 -15.96 -15.96 EPS (Basic)
0.67 0.91 1.94 3.76 4.90 3.52 3.98 4.70 5.83 5.44 5.82 -1.99 -6.41 -0.63 -0.08 -15.96 -15.96 EPS (Diluted)
173 317 354 355 399 417 419 424 427 428 430 387 376 377 378 382 382 Shares Outstanding (Diluted
Average)
44.00 115 161 214 402 490 507 555 616 738 778 747 703 698 690 533 533 Depreciation, Depletion and
Amortization
1,804 591 1,272 2,259 3,430 2,751 2,954 3,517 4,005 3,973 4,377 261 -1,815 408 824 -5,829 -5,829 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NOV 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
143 209 957 1,842 1,543 2,622 3,333 3,535 3,319 3,436 3,536 2,080 1,408 1,437 1,427 1,171 1,171 Cash And Cash Equivalents
143 209 957 1,842 1,543 2,622 3,333 3,535 3,319 3,436 3,536 2,080 1,408 1,437 1,427 1,171 1,171 Cash, Cash Equivalents, Marketable
Securities
480 1,481 1,924 2,743 618 2,187 2,425 3,291 4,320 4,896 4,416 2,926 2,083 2,015 2,101 1,855 1,855 Accounts Receivable
62.60 220 267 420 739 704 661 907 1,268 1,175 1,255 1,069 961 656 614 577 577 Inventories, Raw Materials &
Components
104 268 521 939 1,326 1,307 953 852 905 798 1,027 632 561 513 501 364 364 Inventories, Work In Process
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -644 -843 -843 Inventories, Inventories
Adjustments
469 710 1,041 1,215 1,741 1,479 1,774 2,271 3,718 3,630 2,999 2,977 1,803 1,834 2,515 2,099 2,099 Inventories, Finished Goods
-- -- -0.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
635 1,198 1,829 2,575 3,806 3,490 3,388 4,030 5,891 5,603 5,281 4,678 3,325 3,003 2,986 2,197 2,197 Total Inventories
30.60 109 256 434 554 559 574 661 923 949 1,051 491 395 267 200 247 247 Other Current Assets
1,515 2,998 4,966 7,594 9,657 9,598 10,535 12,110 15,678 16,423 16,162 11,425 7,876 7,217 7,279 6,113 6,113 Total Current Assets
-- -- -- -- 421 393 386 391 393 390 362 327 307 309 301 282 282 Investments And Advances
20.80 292 362 412 544 678 736 -- -- -- -- -- -- 252 227 231 231 Land And Improvements
118 -- -- -- -- -- -- -- -- -- -- -- -- 1,340 1,271 1,309 1,309 Buildings And Improvements
368 875 1,034 1,298 1,786 2,023 2,167 2,591 3,175 3,718 3,877 3,694 3,659 3,750 3,737 3,797 3,797 Machinery, Furniture, Equipment
506 1,167 1,396 1,710 2,330 2,701 2,903 3,660 4,523 5,212 5,405 5,276 5,448 5,561 5,484 6,011 6,011 Gross Property, Plant and Equipment
-251 -290 -374 -513 -653 -865 -1,063 -1,215 -1,578 -1,804 -2,043 -2,152 -2,298 -2,559 -2,687 -2,983 -2,983 Accumulated Depreciation
255 878 1,022 1,197 1,677 1,836 1,840 2,445 2,945 3,408 3,362 3,124 3,150 3,002 2,797 3,028 3,028 Property, Plant and Equipment
730 2,729 2,950 3,219 9,525 9,541 9,893 10,224 11,915 14,104 12,983 10,829 9,597 9,528 9,284 3,659 3,659 Intangible Assets
-- 2,118 2,245 2,445 5,225 5,489 5,790 6,151 7,172 9,049 8,539 6,980 6,067 6,227 6,264 2,807 2,807 Goodwill
76.20 73.50 81.70 105 199 164 396 345 553 487 693 265 210 150 135 67.00 67.00 Other Long Term Assets
2,577 6,679 9,019 12,115 21,479 21,532 23,050 25,515 31,484 34,812 33,562 25,970 21,140 20,206 19,796 13,149 13,149 Total Assets
408 568 1,070 2,000 3,013 584 628 901 1,200 1,275 1,189 623 414 510 722 715 715 Accounts Payable
-- -- -- -- 230 321 561 828 505 744 642 439 295 233 190 154 154 Total Tax Payable
654 1,182 2,660 3,874 5,619 2,244 2,174 2,749 2,898 3,374 3,476 2,243 1,632 1,476 1,522 1,412 1,412 Accounts Payable & Accrued
Expense
150 5.70 5.60 153 4.00 7.00 373 351 1.00 1.00 152 2.00 506 6.00 7.00 114 114 Current Portion of Long-Term Debt
-- -- -- -- -- 500 387 1,551 1,888 2,444 2,478 1,211 662 519 458 427 427 Current Deferred Revenue
-- -- -- -- -- 340 451 214 333 312 309 -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- -- 840 838 1,765 2,221 2,756 2,787 1,211 662 519 458 427 427 DeferredTaxAndRevenue
-- -- -- -0.00 -- 1,423 1,151 551 529 547 959 502 247 353 354 294 294 Other Current Liabilities
804 1,187 2,665 4,027 5,623 4,514 4,536 5,416 5,649 6,678 7,374 3,958 3,047 2,354 2,341 2,247 2,247 Total Current Liabilities
350 836 835 738 870 876 514 159 3,148 3,149 3,014 3,907 2,708 2,706 2,482 1,989 1,989 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 222 674 674 Capital Lease Obligation
350 836 835 738 870 876 514 159 3,148 3,149 3,014 3,907 2,708 2,706 2,704 2,663 2,663 Long-Term Debt & Capital Lease
Obligation
0.39 0.20 0.17 0.13 0.07 0.06 0.06 0.03 0.16 0.14 0.15 0.24 0.23 0.19 0.20 0.36 0.36 Debt to Equity
103 373 389 564 2,134 1,751 1,885 1,852 1,997 2,292 1,972 1,362 1,064 677 564 140 140 NonCurrent Deferred Liabilities
17.80 24.50 35.50 62.80 96.00 115 114 109 117 100.00 80.00 77.00 63.00 66.00 70.00 68.00 68.00 Minority Interest
31.50 63.70 71.40 61.80 128 163 253 360 334 363 430 283 318 309 298 253 253 Other Long-Term Liabilities
1,289 2,460 3,960 5,391 8,755 7,304 7,188 7,787 11,128 12,482 12,790 9,510 7,137 6,046 5,907 5,303 5,303 Total Liabilities
0.90 1.70 1.80 3.60 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 Common Stock
543 830 1,514 2,846 4,796 5,805 7,300 9,103 11,385 13,323 13,181 9,927 7,285 6,966 6,862 690 Retained Earnings
690
33.40 -38.30 46.10 195 -161 90.00 91.00 -23.00 107 -4.00 -834 -1,553 -1,452 -1,110 -1,437 -1,423 -1,423 Accumulated other comprehensive
income (loss)
693 3,401 3,462 3,617 7,989 8,214 8,353 8,535 8,743 8,907 8,341 8,005 8,103 8,234 8,390 8,507 8,507 Additional Paid-In Capital
1,270 4,194 5,024 6,661 12,628 14,113 15,748 17,619 20,239 22,230 20,692 16,383 13,940 14,094 13,819 7,778 7,778 Total Equity
0.49 0.63 0.56 0.55 0.59 0.66 0.68 0.69 0.64 0.64 0.62 0.63 0.66 0.70 0.70 0.59 0.59 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NOV 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
115 287 684 1,337 1,968 1,473 1,659 1,985 2,375 2,181 2,455 -767 -2,416 -236 -22.00 -6,093 -6,093 Net Income
115 287 684 1,337 1,968 1,473 1,659 1,985 2,375 2,181 2,455 -767 -2,416 -236 -22.00 -6,093 -6,093 Net Income From Continuing
Operations
44.00 115 161 214 402 490 507 555 616 738 778 747 703 698 690 533 533 Depreciation, Depletion and
Amortization
-115 -425 -409 -799 -601 1,033 -193 -474 -1,124 -830 -415 1,639 1,491 242 -140 205 205 Change In Receivables
-106 -215 -620 -758 -643 468 39.00 -591 -974 238 -710 410 782 229 -7.00 104 104 Change In Inventory
27.40 -8.60 -102 -144 230 23.00 15.00 -44.00 -221 41.00 -60.00 112 102 130 67.00 -45.00 -45.00 Change In Prepaid Assets
174 68.10 373 916 860 -361 326 488 -368 311 850 -1,874 -1,162 -88.00 -5.00 -238 -238 Change In Payables And Accrued
Expense
15.40 -372 327 -447 -146 -22.00 -631 -164 -2,404 350 -794 -466 1,044 448 -239 35.00 35.00 Change In Working Capital
-6.70 -- -- -- -- -174 -165 -352 -90.00 -336 -300 -258 -198 -341 -63.00 -426 -426 Change In DeferredTax
-- -- -- -- 67.00 68.00 66.00 73.00 80.00 92.00 101 109 107 124 110 130 -- Stock Based Compensation
-1.70 48.40 44.90 84.00 3.00 113 106 46.00 55.00 55.00 181 278 748 139 45.00 714 6,665 Cash Flow from Others
166 77.50 1,217 1,188 2,294 2,095 1,542 2,143 620 3,397 2,614 1,332 960 832 521 714 714 Cash Flow from Operations
-39.00 -105 -200 -252 -379 -250 -232 -483 -569 -614 -699 -453 -284 -192 -244 -233 -233 Purchase Of Property, Plant,
Equipment
35.80 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -3,008 -573 -556 -1,038 -1,767 -2,397 -291 -86.00 -230 -86.00 -280 -180 -180 Purchase Of Business
-- -- -- -- 801 -- -- -- -- 30.00 -- -- -- -- -- -- -- Sale Of Business
-- -- -- -- -- 251 -- -- -- -- -- -- -- -- -- -- -- Sale Of Investment
-- -- -- -- -- -- -- -- -1,127 -54.00 -12.00 -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-2.80 143 -330 -323 113 20.00 45.00 63.00 35.00 71.00 -102 25.00 26.00 33.00 67.00 98.00 98.00 Cash From Other Investing Activities
-6.00 38.00 -530 -575 -2,473 -552 -743 -1,458 -3,428 -2,964 -1,104 -514 -488 -245 -457 -315 -315 Cash Flow from Investing
14.60 112 32.70 91.30 78.00 -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -- -- -- -- -- -- -- -- -779 -2,221 -- -- -- -- -- Repurchase of Stock
-110 -152 -5.10 35.40 -189 -40.00 -13.00 -391 2,638 -- 18.00 762 -900 -506 -8.00 -521 -- Net Issuance of Debt
-- -- -- -- -- -460 -172 -191 -209 -389 -703 -710 -230 -76.00 -76.00 -77.00 -77.00 Cash Flow for Dividends
-- -- 13.50 22.90 37.00 9.00 83.00 118 154 84.00 121 6.00 -11.00 -13.00 54.00 -49.00 -570 Other Financing
-95.30 -40.40 41.10 150 -74.00 -491 -102 -464 2,583 -305 -1,343 -2,163 -1,141 -595 -30.00 -647 -647 Cash Flow from Financing
68.50 66.70 748 884 -299 1,079 711 202 -216 117 100.00 -1,456 -672 29.00 -10.00 -256 -256 Net Change in Cash
-39.00 -105 -200 -252 -379 -250 -232 -483 -569 -614 -699 -453 -284 -192 -244 -233 -233 Capital Expenditure
127 -27.50 1,016 936 1,915 1,845 1,310 1,660 51.00 2,783 1,915 879 676 640 277 481 481 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NOV 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
23.91 31.74 14.25 17.68 4.51 11.29 15.23 13.06 10.57 13.20 11.26 -- -- -- -- -- -- PE Ratio(TTM)
17.49 -- 8.69 23.16 4.39 9.31 21.24 14.40 77.48 11.16 15.74 -- -- 69.27 240 -- -- Price to Owner Earnings
(TTM)
2.15 2.35 1.93 3.55 0.73 1.18 1.62 1.47 1.30 1.38 1.33 0.77 1.02 0.97 0.71 1.23 0.92 Price to Book
5.06 6.72 4.67 6.86 2.96 3.64 4.36 3.51 3.16 3.78 3.56 2.27 3.26 3.00 2.17 2.32 1.76 Price to Tangible Book
21.75 -- 9.60 25.28 4.55 9.00 19.39 15.69 560 11.02 14.72 14.33 20.80 21.20 35.50 19.90 15.06 Price-to-Free-Cash-Flow
Ratio
16.61 199 8.02 19.91 3.81 7.93 16.47 12.15 42.84 9.03 10.78 9.55 14.65 16.32 18.81 13.41 10.16 Price-to-Operating-Cash-
Flow Ratio
1.19 1.92 1.39 2.41 0.66 1.31 2.09 1.77 1.53 1.52 1.31 0.88 1.94 1.86 1.15 1.13 0.84 PS Ratio
0.44 0.64 0.37 0.41 0.14 1.73 0.54 1.38 2.20 2.50 1.15 -- -- -- -- -- -- PEG Ratio
1.34 2.26 1.37 2.32 0.64 1.18 1.91 1.57 1.53 1.51 1.27 0.98 2.21 2.06 1.33 1.33 1.05 EV-to-Revenue
1.72 17.77 7.55 10.07 2.51 5.45 7.85 6.56 6.55 7.57 6.21 55.52 -8.84 36.84 13.60 -1.93 -1.54 EV-to-EBITDA
1.77 22.04 8.64 11.12 2.85 6.63 9.48 7.78 7.74 9.26 7.55 -29.82 -6.37 -51.84 83.64 -1.77 -1.42 EV-to-EBIT
56.50 4.54 11.57 8.99 35.09 15.08 10.55 12.85 12.92 10.80 13.25 -3.35 -15.70 -1.93 1.20 -56.50 -70.52 Return on Capital %
21.61 20.42 23.12 21.83 29.48 13.69 25.67 15.71 10.20 10.57 15.29 -0.51 -- -- -- -- 6.95 Forward Rate of Return
-- -- 40.41 64.81 15.71 21.95 27.17 22.88 18.95 18.90 15.29 8.37 11.69 12.91 11.36 86.26 65.32 Shiller PE Ratio
-- -- -- -- -- 0.25 0.68 0.73 0.80 1.27 2.50 5.49 1.63 0.56 0.78 0.80 1.06 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,735 9,851 9,681 23,625 9,195 16,625 25,525 25,972 26,299 30,706 27,456 12,584 14,176 13,691 9,854 9,569 7,321 Market Cap
3,110 10,508 9,599 22,736 8,622 15,001 23,193 23,056 26,246 30,520 27,166 14,490 16,045 15,032 11,208 11,243 8,995 Enterprise Value
15.90 28.25 27.57 66.20 22.03 39.73 60.61 61.27 61.60 71.67 65.53 33.49 37.44 36.02 25.70 25.05 18.97 Month End Stock Price
-6.77 -6.52 -8.65 -10.12 -17.51 -11.46 -9.42 -10.29 -18.57 -21.35 -22.28 -19.98 -15.30 -12.30 -11.87 -10.99 -10.99 Net Cash (per share)
1.21 1.47 2.76 6.00 1.93 5.21 7.68 9.94 10.38 8.97 7.86 4.89 1.79 2.91 3.40 1.94 1.94 Net Current Asset Value
(per share)
-2.83 -1.62 -1.94 -0.75 -11.84 -3.37 -1.08 0.29 -4.08 -6.24 -8.07 -7.91 -6.78 -4.37 -3.86 -4.48 -4.48 Net-Net Working Capital (per
share)
8.58 10.33 19.26 29.59 47.78 61.60 71.42 80.10 69.65 84.21 91.37 74.78 62.77 59.13 59.34 36.51 36.51 Projected FCF (per share)
-- -- -- 33.87 46.14 41.93 36.61 47.34 63.06 77.54 83.80 60.84 29.58 29.75 34.54 34.43 34.43 Median PS (per share)
16.63 22.25 48.38 93.63 122 22.92 99.50 44.23 32.65 28.72 57.04 -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
6.86 9.27 16.03 28.57 28.63 29.42 35.28 42.95 49.48 46.61 48.58 -- -- -- -- -- -- Graham Number (per share)
15.03 10.24 18.12 30.68 39.39 34.61 45.40 53.53 51.98 54.36 58.93 55.80 23.31 7.70 -0.12 -9.22 -9.22 Earnings Power Value
(EPV)
2.98 3.81 3.17 4.67 2.26 2.96 3.76 3.77 3.21 3.24 3.14 2.18 1.90 2.44 2.23 0.56 0.34 Altman Z-Score
6.00 6.00 5.00 7.00 7.00 6.00 6.00 6.00 5.00 5.00 5.00 4.00 3.00 7.00 6.00 3.00 3.00 Piotroski F-Score
-2.48 -0.60 -2.66 -2.18 -2.71 -0.08 -2.36 -2.19 -2.00 -2.42 -2.64 -2.71 -11.51 -3.28 -2.69 -2.80 -2.80 Beneish M-Score
0.73 1.88 0.74 0.64 1.00 0.58 0.62 0.64 0.79 0.70 0.59 0.55 0.61 0.73 0.75 0.48 0.68 Scaled Net Operating
Assets
-1.75 2.57 -0.03 5.98 9.92 -0.34 3.77 5.13 16.83 5.44 2.96 -6.11 -13.64 -4.08 -0.48 -49.39 -49.39 Sloan Ratio (%)
1.88 2.53 1.86 1.89 1.72 2.13 2.32 2.24 2.78 2.46 2.19 2.89 2.58 3.07 3.11 2.72 2.72 Current Ratio
1.09 1.52 1.18 1.25 1.04 1.35 1.58 1.49 1.73 1.62 1.48 1.70 1.49 1.79 1.83 1.74 1.74 Quick Ratio
16.67 30.39 34.49 71.45 83.54 44.90 60.61 75.08 78.57 75.97 86.43 65.53 40.32 41.74 48.62 30.58 29.37 Highest Stock Price
9.81 14.97 23.47 24.33 16.10 20.14 29.76 45.27 54.07 57.80 61.55 33.27 26.34 29.94 24.43 18.28 18.01 Lowest Stock Price
-1.02 -103 -0.69 -1.63 -16.96 -0.26 -0.64 -0.66 -0.71 -0.35 2.21 10.31 -0.76 -0.39 -0.87 0.37 0.37 Shares Buyback Ratio (%)
13.33 9.52 35.39 38.63 22.21 -9.44 -4.83 19.16 16.48 11.53 11.02 -23.52 -49.43 0.46 15.42 -0.74 -0.16 YoY Rev. per Sh. Growth
(%)
41.49 36.84 113 94.32 30.32 -28.16 13.07 18.09 24.04 -6.69 6.99 -134 -222 90.17 87.30 -19,850 -18,163 YoY EPS Growth (%)
770 -82.08 92.40 76.72 35.26 -23.26 6.87 17.66 13.07 -1.02 9.65 -93.38 -816 122 101 -800 -804 YoY EBITDA Growth (%)
54.49 49.23 38.13 43.20 32.76 6.51 28.15 9.43 4.80 5.47 9.99 -11.32 -- -- -- -- -- EBITDA 5-Y Growth (%)
172 313 350 354 397 416 417 422 425 426 428 387 376 377 378 382 382 Shares Outstanding (Basic
Average)
172 349 351 357 417 418 421 424 427 428 419 376 379 380 383 382 386 Shares Outstanding (EOP)
0.87 0.80 1.32 0.78 1.89 1.41 1.53 1.51 2.16 2.15 1.32 0.85 0.93 0.91 1.41 1.71 1.69 Beta
03/08/05 03/06/06 02/27/07 02/29/08 03/02/09 02/26/10 02/23/11 02/23/12 02/22/13 02/14/14 02/17/15 02/19/16 02/17/17 02/16/18 02/14/19 02/13/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NOV 6/7
03/06/06 02/27/07 02/27/07 02/29/08 02/26/10 02/23/12 02/22/13 02/14/14 02/17/15 02/19/16 02/17/17 02/16/18 02/14/19 02/13/20 02/13/20 02/13/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NOV 7/7
Synchrony Financial (NYSE:SYF) 03/03/2020 2:01PM EST GuruFocus
Price: $ 28.94 -1.46(-4.79%) Market Cap: $ 17.75 B Enterprise Value: $26.21 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 5.23
Cash to Debt 0.61 Net-margin (%) 21.82
Forward P/E N/A
Equity to Asset 0.14 ROE (%) 25.21
F-Score: PE(NRI) 5.23
ROA (%) 3.54
9999 P/B 1.23
M-Score: Revenue Growth (3Y)(%) 15.20
-2.65 P/S 1.12
EPS Growth (3Y)(%) 27.10
PFCF 2.15
POCF 2.15
Warning Signs Quarterly Revenues Company Description
Valuation: Forward PE Ratio Mar Jun Sep Dec Full Year Synchrony Financial, formerly GE Capital's retail finance business, is the largest provider of private-label credit cards in
the United States based on purchase volume and receivables. Through its partners' 350,000 locations in the U.S.
2016 3,301 3,295 3,565 3,713 13,874 and Canada along with websites and mobile applications, Synchrony offers a variety of credit products through three
Insider Sell: Insider Selling
2017 3,680 3,694 3,952 3,978 15,304 sales platforms: retail card (private-label credit cards), payment solutions (consumer financing for major purchases),
and CareCredit (financing for elective healthcare procedures).... (Read More)
2018 3,917 3,800 4,269 4,397 16,383
Competitors: BOM:500034 , NYSE:DFS, TSE:8591 , NYSE:TSS, XPAR:EDEN, NAS:CACC, COL:CSF.N0000 ,
Good Signs 2019 4,318 4,245 4,474 4,133 17,170 NYSE:WU, NYSE:ADS, TPE:5871, TSE:8572, NYSE:OMF, TSE:8593, TSE:8570, NAS:SLM, BOM:532810,
2020 NYSE:COF, NAS:FCFS, BOM:532955, BOM:533519
Dividend Yield %: Close to 1-
year high Quarterly Earnings per Share Insider Trades
PE Ratio: Close to 10-year Mar Jun Sep Dec Full Year
low 2016 0.70 0.58 0.73 0.70 2.71
2017 0.61 0.61 0.70 0.49 2.41
PB Ratio: Close to 1-year low 2018 0.83 0.92 0.91 1.09 3.75
PS Ratio: Close to 1-year low 2019 1.56 1.24 1.60 1.15 5.55
2020
DCF Quarterly Dividends Per Share
GuruFocus does not Mar Jun Sep Dec Full Year
calculate intrinsic value: DCF 2016 0.00 0.00 0.13 0.13 0.26
(Earnings Based) for 2017 0.13 0.13 0.15 0.15 0.56
companies with one star 2018 0.15 0.15 0.21 0.21 0.72
predictability or not rated. But 2019 0.21 0.21 0.22 0.22 0.86
you can go to each stock's 2020
DCF page to calculate Growth Rate
yourself.
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 0.00 11.30 16.20
Reverse DCF
EBITDA Growth (%) 0.00 0.00 0.00
GuruFocus does not
calculate reverse DCF growth Free Cash Flow Growth (%) 0.00 15.60 6.70
rate for companies with one Book Value Growth (%) 0.00 12.30 14.10
star predictability or not rated. EPS Growth (%) 0.00 13.40 48.70
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYF 1/6
Per Share Data
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- 10.48 12.09 13.32 15.58 14.94 16.69 19.14 21.94 25.49 25.52 Revenue per Share
-- -- -- -- -- -- -- 2.28 2.55 2.38 2.78 2.65 2.71 2.42 3.74 5.56 5.55 Earnings per Share (diluted)
-- -- -- -- -- -- -- 2.28 2.55 2.21 2.78 2.65 2.71 2.42 3.74 5.56 5.55 eps without NRI
-- -- -- -- -- -- -- 6.64 6.78 6.83 7.05 7.40 7.83 10.72 12.51 13.35 13.39 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- -- 0.26 0.56 0.72 0.86 0.86 Dividends per Share
-- -- -- -- -- -- -- -- 5.51 7.17 12.57 15.12 17.37 18.47 20.42 23.31 23.31 Book Value per Share
-- -- -- -- -- -- -- -- 4.08 5.67 10.81 13.14 15.34 16.22 17.42 19.50 19.50 Tangible Book per Share
-- -- -- -- -- -- -- -- 33.47 29.26 32.94 29.12 24.65 26.99 33.39 32.26 32.26 Total Debt per Share
-- -- -- -- -- -- -- -- -- -- 29.75 30.41 36.27 38.61 23.46 36.01 28.94 Month End Stock Price
Ratios
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 46.25 37.55 25.66 19.18 16.80 13.61 19.30 25.18 25.21 Return on Equity %
-- -- -- -- -- -- -- -- 3.96 3.52 3.13 2.77 2.58 2.08 2.75 3.54 3.54 Return on Assets %
-- -- -- -- -- -- -- -- -- -- -- -- -- 6.36 7.67 9.02 8.48 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- 2.68 2.85 3.56 4.39 5.62 6.79 8.35 10.45 10.67 Effective Interest Rate on Debt %
-- -- -- -- -- -- -- 21.71 21.09 17.88 17.87 17.73 16.22 12.64 17.03 21.82 21.82 Net Margin %
-- -- -- -- -- -- -- 63.36 56.10 51.30 45.24 49.53 46.93 56.03 57.02 52.36 52.36 FCF Margin %
-- -- -- -- -- -- -- 9,999 6.07 4.08 2.62 1.93 1.42 1.46 1.64 1.32 1.32 Debt to Equity
-- -- -- -- -- -- -- -- 0.09 0.10 0.14 0.15 0.16 0.15 0.14 0.14 0.14 Total Equity to Total Asset
-- -- -- -- -- -- -- -- 0.52 0.41 0.36 0.29 0.22 0.22 0.23 0.19 0.19 Total Debt to Total Asset
-- -- -- -- -- -- -- -- 18.79 19.67 17.52 15.64 15.93 16.45 16.17 16.23 16.22 Gross Profit to Total Asset %
-- -- -- -- -- -- -- -- 0.19 0.20 0.18 0.16 0.16 0.17 0.16 0.16 0.16 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- 0.10 0.23 0.19 0.16 0.15 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYF 2/6
Income Statement
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- 8,706 10,048 11,071 11,805 12,485 13,874 15,304 16,383 17,170 17,170 Revenue
-- -- -- -- -- -- -- 8,706 10,048 11,071 11,805 12,485 13,874 15,304 16,383 17,170 17,170 Gross Profit
-- -- -- -- -- -- -- 974 993 1,160 1,538 1,772 1,959 2,175 2,381 2,489 2,489 Selling, General, & Admin. Expense
-- -- -- -- -- -- -- 7,732 9,055 9,911 10,267 10,713 11,915 13,129 14,002 14,681 14,681 Other Operating Expense
-- -- -- -- -- -- -- 9,141 10,309 11,313 12,242 13,228 14,778 16,407 17,988 19,090 19,090 Interest Income
-- -- -- -- -- -- -- -932 -745 -742 -922 -1,135 -1,248 -1,391 -1,870 -2,291 -2,291 Interest Expense
-- -- -- -- -- -- -- 8,209 9,564 10,571 11,320 12,093 13,530 15,016 16,118 16,799 16,799 Net Interest Income
-- -- -- -- -- -- -- 3,010 3,376 3,142 3,386 3,531 3,570 3,324 3,644 4,887 4,887 Other Income (Expense)
-- -- -- -- -- -- -- 3,010 3,376 3,142 3,386 3,531 3,570 3,324 3,644 4,887 4,887 Pre-Tax Income
-- -- -- -- -- -- -- -1,120 -1,257 -1,163 -1,277 -1,317 -1,319 -1,389 -854 -1,140 -1,140 Tax Provision
-- -- -- -- -- -- -- 37.21 37.23 37.01 37.71 37.30 36.95 41.79 23.44 23.33 23.33 Tax Rate %
-- -- -- -- -- -- -- 1,890 2,119 1,979 2,109 2,214 2,251 1,935 2,790 3,747 3,747 Net Income (Continuing Operations)
-- -- -- -- -- -- -- 1,890 2,119 1,979 2,109 2,214 2,251 1,935 2,790 3,747 3,747 Net Income
-- -- -- -- -- -- -- 21.71 21.09 17.88 17.87 17.73 16.22 12.64 17.03 21.82 21.82 Net Margin %
-- -- -- -- -- -- -- 2.28 2.55 2.38 2.78 2.66 2.71 2.43 3.76 5.59 5.57 EPS (Basic)
-- -- -- -- -- -- -- 2.28 2.55 2.38 2.78 2.65 2.71 2.42 3.74 5.56 5.55 EPS (Diluted)
-- -- -- -- -- -- -- 831 831 831 758 836 832 800 747 674 637 Shares Outstanding (Diluted
Average)
-- -- -- -- -- -- -- 96.00 83.00 104 131 174 219 254 302 367 367 Depreciation, Depletion and
Amortization
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYF 3/6
Balance Sheet
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 1,334 2,319 11,828 12,325 9,321 11,602 9,396 12,147 12,147 Cash And Cash Equivalents
-- -- -- -- -- -- -- -- 1,334 2,319 11,828 12,325 9,321 11,602 9,396 12,147 12,147 Cash, Cash Equivalents, Marketable
Securities
-- -- -- -- -- -- -- -- 1,334 2,319 11,828 12,325 9,321 11,602 9,396 12,147 12,147 Total Current Assets
-- -- -- -- -- -- -- -- 44.00 61.00 1,327 2,825 3,737 4,473 6,062 5,911 5,911 Investments And Advances
-- -- -- -- -- -- -- -- 1,191 1,249 1,468 1,650 1,661 1,740 2,161 2,343 2,343 Intangible Assets
-- -- -- -- -- -- -- -- 936 949 949 949 949 991 1,024 1,078 1,078 Goodwill
-- -- -- -- -- -- -- -- 50,893 55,456 61,084 67,190 75,488 77,993 89,173 84,425 84,425 Other Long Term Assets
-- -- -- -- -- -- -- -- 53,462 59,085 75,707 83,990 90,207 95,808 106,792 104,826 104,826 Total Assets
-- -- -- -- -- -- -- -- 2,261 3,085 2,814 3,740 3,809 4,287 4,099 4,718 4,718 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- 2,261 3,085 2,814 3,740 3,809 4,287 4,099 4,718 4,718 Total Current Liabilities
-- -- -- -- -- -- -- -- 27,815 24,321 27,460 24,279 20,147 20,799 23,996 19,866 19,866 Long-Term Debt
-- -- -- -- -- -- -- -- 27,815 24,321 27,460 24,279 20,147 20,799 23,996 19,866 19,866 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- -- -- 9,999 6.07 4.08 2.62 1.93 1.42 1.46 1.64 1.32 1.32 Debt to Equity
-- -- -- -- -- -- -- -- 18,804 25,719 34,955 43,367 52,055 56,488 64,019 65,154 65,154 Other Long-Term Liabilities
-- -- -- -- -- -- -- -- 48,880 53,125 65,229 71,386 76,011 81,574 92,114 89,738 89,738 Total Liabilities
-- -- -- -- -- -- -- -- -- -- 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Common Stock
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 734 734 Preferred Stock
-- -- -- -- -- -- -- -- -- -- 1,079 3,293 5,330 6,809 8,986 12,117 12,117 Retained Earnings
-- -- -- -- -- -- -- -- 2.00 -13.00 -10.00 -41.00 -53.00 -64.00 -62.00 -58.00 -58.00 Accumulated other comprehensive
income (loss)
-- -- -- -- -- -- -- -- -- -- 9,408 9,351 9,393 9,445 9,482 9,537 9,537 Additional Paid-In Capital
-- -- -- -- -- -- -- -- -- -- -- -- -475 -1,957 -3,729 -7,243 -7,243 Treasury Stock
-- -- -- -- -- -- -- -- 4,582 5,960 10,478 12,604 14,196 14,234 14,678 15,088 15,088 Total Equity
-- -- -- -- -- -- -- -- 0.09 0.10 0.14 0.15 0.16 0.15 0.14 0.14 0.14 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYF 4/6
Cashflow Statement
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- 1,890 2,119 1,979 2,109 2,214 2,251 1,935 2,790 3,747 3,747 Net Income
-- -- -- -- -- -- -- 1,890 2,119 1,979 2,109 2,214 2,251 1,935 2,790 3,747 3,747 Net Income From Continuing
Operations
-- -- -- -- -- -- -- 96.00 83.00 104 131 174 219 254 302 367 367 Depreciation, Depletion and
Amortization
-- -- -- -- -- -- -- -392 -541 -152 68.00 -163 -429 -298 -280 -391 -391 Change In Receivables
-- -- -- -- -- -- -- 561 189 810 -172 803 -32.00 210 356 363 363 Change In Payables And Accrued
Expense
-- -- -- -- -- -- -- 1,214 828 698 92.00 710 -859 56.00 157 65.00 65.00 Change In Working Capital
-- -- -- -- -- -- -- 128 -18.00 -237 -203 -295 389 385 -53.00 23.00 23.00 Change In DeferredTax
-- -- -- -- -- -- -- 2,188 2,625 3,135 3,211 3,381 4,511 5,945 6,146 4,788 4,788 Cash Flow from Others
-- -- -- -- -- -- -- 5,516 5,637 5,679 5,340 6,184 6,511 8,575 9,342 8,990 8,990 Cash Flow from Operations
-- -- -- -- -- -- -- 3,153 -- 6,393 -- -- -- -- -- -- Sale Of Business
--
-- -- -- -- -- -- -- -94.00 -31.00 -100.00 -1,376 -5,102 -3,380 -3,159 -7,271 -7,856 -7,856 Purchase Of Investment
-- -- -- -- -- -- -- 17.00 40.00 40.00 27.00 3,538 1,380 3,762 5,668 8,085 8,085 Sale Of Investment
-- -- -- -- -- -- -- -4,646 -6,461 -7,399 -8,719 -9,239 -11,364 -10,145 -17,433 -490 -490 Cash From Other Investing Activities
-- -- -- -- -- -- -- -1,570 -6,452 -1,066 -10,068 -10,803 -13,364 -9,542 -19,036 -261 -261 Cash Flow from Investing
-- -- -- -- -- -- -- -- -- -- 2,842 -- -- -- -- -- -- Issuance of Stock
-- -- -- -- -- -- -- -- -- -- -- -- -476 -1,497 -1,868 -3,618 -3,618 Repurchase of Stock
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 734 -- Net Issuance of Preferred Stock
-- -- -- -- -- -- -- -5,046 1,925 -3,491 2,972 -3,147 -4,166 633 3,180 -4,147 -4,147 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -- -- -214 -446 -534 -581 -581 Cash Flow for Dividends
-- -- -- -- -- -- -- 2,068 -963 -137 8,423 8,263 8,661 4,426 7,475 1,154 1,888 Other Financing
-- -- -- -- -- -- -- -2,978 962 -3,628 14,237 5,116 3,805 3,116 8,253 -6,458 -6,458 Cash Flow from Financing
-- -- -- -- -- -- -- 968 147 985 9,509 497 -3,048 2,149 -1,441 2,271 2,271 Net Change in Cash
-- -- -- -- -- -- -- 5,516 5,637 5,679 5,340 6,184 6,511 8,575 9,342 8,990 8,990 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYF 5/6
Valuation Ratios
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- -- 11.53 11.48 13.38 16.02 6.26 6.49 5.23 PE Ratio(TTM)
-- -- -- -- -- -- -- -- -- -- 2.37 2.01 2.09 2.09 1.15 1.55 1.23 Price to Book
-- -- -- -- -- -- -- -- -- -- 2.75 2.31 2.37 2.38 1.35 1.85 1.48 Price to Tangible Book
-- -- -- -- -- -- -- -- -- -- 4.57 4.11 4.63 3.59 1.87 2.69 2.15 Price-to-Free-Cash-Flow Ratio
-- -- -- -- -- -- -- -- -- -- 4.57 4.11 4.63 3.59 1.87 2.69 2.15 Price-to-Operating-Cash-Flow Ratio
-- -- -- -- -- -- -- -- -- -- 2.07 2.04 2.17 2.02 1.07 1.41 1.12 PS Ratio
-- -- -- -- -- -- -- -- -- -- 3.43 2.99 2.92 2.54 1.92 1.78 1.53 EV-to-Revenue
-- -- -- -- -- -- -- -- -- -- 11.50 10.07 10.68 10.89 -- -- -- EV-to-EBITDA
-- -- -- -- -- -- -- -- -- -- -- -- 0.72 1.45 3.07 2.39 3.01 Dividend Yield %
Valuation and Quality
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- -- 24,805 25,357 29,645 29,750 16,862 22,179 17,754 Market Cap
-- -- -- -- -- -- -- -- -- -- 40,437 37,311 40,471 38,947 31,462 30,632 26,207 Enterprise Value
-- -- -- -- -- -- -- -- -- -- 29.75 30.41 36.27 38.61 23.46 36.01 28.94 Month End Stock Price
-- -- -- -- -- -- -- -- -57.20 -61.13 -64.05 -70.83 -81.59 -90.81 -115 -126 -126 Net Cash (per share)
-- -- -- -- -- -- -- -- -57.20 -61.13 -64.05 -70.83 -81.59 -90.81 -115 -127 -127 Net-Net Working Capital (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 127 165 165 Projected FCF (per share)
-- -- -- -- -- -- -- -- 15.30 16.79 26.00 27.99 30.58 29.71 38.28 49.39 49.35 Graham Number (per share)
-- -- -- -- -- -- -- 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-- -- -- -- -- -- -- -- -- -- -2.67 -2.61 -2.51 -2.72 -2.69 -2.65 -2.65 Beneish M-Score
-- -- -- -- -- -- -- -- -- 0.52 0.44 0.32 0.30 0.26 0.31 0.21 0.22 Scaled Net Operating Assets
-- -- -- -- -- -- -- -- 5.49 -4.46 9.03 8.14 10.09 3.03 11.69 -4.75 -4.75 Sloan Ratio (%)
-- -- -- -- -- -- -- -- -- -- 30.50 35.99 37.26 38.97 40.21 37.76 38.18 Highest Stock Price
-- -- -- -- -- -- -- -- -- -- -- 28.52 23.36 26.50 22.17 23.46 28.07 Lowest Stock Price
-- -- -- -- -- -- -- -- -0.06 -- -0.31 -0.01 1.98 5.73 6.72 14.31 14.31 Shares Buyback Ratio (%)
-- -- -- -- -- -- -- -- 15.34 10.18 16.98 -4.10 11.66 14.69 14.62 16.23 16.13 YoY Rev. per Sh. Growth (%)
-- -- -- -- -- -- -- -- 12.05 -6.61 16.76 -4.68 2.26 -10.70 54.55 48.66 48.00 YoY EPS Growth (%)
-- -- -- -- -- -- -- 830 830 830 757 834 829 796 742 670 633 Shares Outstanding (Basic Average)
-- -- -- -- -- -- -- 831 831 831 834 834 817 771 719 616 613 Shares Outstanding (EOP)
-- -- -- -- -- -- -- -- -- -- -- -- -- 0.91 1.21 1.34 1.32 Beta
-- -- -- -- -- -- -- 07/31/14 02/23/15 07/31/14 02/23/15 02/25/16 02/23/17 02/22/18 02/15/19 02/13/20 Filing Date
-- -- -- -- -- -- -- 07/31/14 02/23/15 02/25/16 02/23/17 02/22/18 02/15/19 02/13/20 02/13/20 02/13/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYF 6/6
Allegion PLC (NYSE:ALLE) 03/03/2020 2:00PM EST GuruFocus
Price: $ 120.10 -0.76(-0.63%) Market Cap: $ 11.12 B Enterprise Value: $12.2 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 28.22
Cash to Debt 0.25 Operating margin (%) 19.80
Forward P/E N/A
Equity to Asset 0.26 Net-margin (%) 14.08
PE(NRI) 28.22
Interest Coverage 10.09 ROE (%) 59.30
F-Score:
P/B 14.85
ROA (%) 14.06
7 P/S 3.97
Z-Score: ROC (Joel Greenblatt) (%) 111.70
5.26 PFCF 26.69
Revenue Growth (3Y)(%) 9.40
M-Score: POCF 23.13
-2.54 EBITDA Growth (3Y)(%) 14.00
EV-to-EBIT 22.97
WACC vs 6.98% EPS Growth (3Y)(%) 21.80
ROIC 25.48% PEG 1.84
WACC
ROIC Current Ratio 1.98
Quick Ratio 1.44
Days Inventory 65.89
Days Sales Outstanding 42.18
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Allegion is a global security products company with a portfolio of leading brands, such as Schlage, Von Duprin, and
LCN. The Ireland-domiciled company was created via a spin-off transaction from Ingersoll-Rand in December 2013. In
2016 502 585 581 570 2,238 fiscal 2018, Allegion generated 73% of sales in the Americas, 22% of sales in Europe, the Middle East, India, and
2017 549 627 609 623 2,408 Africa, and 5% of sales in Asia-Pacific. The company mainly competes with Swedish-based Assa Abloy AB,
Good Signs 2018 613 705 712 702 2,732
Switzerland-based Dormakaba, and U.S.-based Spectrum Brands.... (Read More)
Competitors: LSE:HLMA, SZSE:002236 , OSTO:SECU B, NYSE:ADT, TSE:2331 , LSE:GFS, NYSE:MSA,
Piotroski F-Score: High 2019 655 731 748 720 2,854 NYSE:BCO, SZSE:002268, XSWX:DOKA, XMAD:PSG, XKRX:012750, NYSE:REZI, NYSE:BRC, NAS:VRRM,
2020 NAS:KTOS, SZSE:300367, XKRX:012450, SZSE:300078, TPE:9917
Operating Margin %:
Expansion Quarterly Earnings per Share Insider Trades
Mar Jun Sep Dec Full Year
DCF 2016 0.60 0.98 0.02 0.77 2.37
2017 0.71 1.10 0.94 0.10 2.85
GuruFocus does not 2018 0.75 1.19 1.21 1.39 4.54
calculate intrinsic value: DCF 2019 0.84 1.16 1.40 0.86 4.26
(Earnings Based) for 2020
companies with one star
predictability or not rated. But Quarterly Dividends Per Share
you can go to each stock's Mar Jun Sep Dec Full Year
DCF page to calculate 2016 0.12 0.12 0.12 0.12 0.48
yourself. 2017 0.16 0.16 0.16 0.16 0.64
2018 0.21 0.21 0.21 0.21 0.84
Reverse DCF 2019 0.27 0.27 0.27 0.27 1.08
2020
GuruFocus does not
calculate reverse DCF growth Growth Rate
rate for companies with one Annual Rates(per share) 10-Y 5-Y 12-M
star predictability or not rated.
But you can go to each Revenue Growth (%) 0.00 7.70 6.00
stock's DCF page to calculate EBITDA Growth (%) 0.00 15.40 1.30
yourself. Free Cash Flow Growth (%) 0.00 17.20 4.90
Book Value Growth (%) 0.00 0.00 16.80
EPS Growth (%) 0.00 23.30 -6.20
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALLE 1/7
Per Share Data
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- 21.05 21.07 21.54 21.79 21.34 23.10 25.09 28.54 30.27 30.27 Revenue per Share
-- -- -- -- -- -- -- 4.27 4.29 2.91 3.81 3.26 4.40 5.92 6.43 6.51 6.51 EBITDA per Share
-- -- -- -- -- -- -- 3.79 3.83 2.43 3.31 2.71 3.71 5.22 5.53 5.63 5.63 EBIT per Share
-- -- -- -- -- -- -- 2.27 2.29 0.34 1.80 1.59 2.36 2.85 4.54 4.26 4.26 Earnings per Share (diluted)
-- -- -- -- -- -- -- 2.27 2.29 0.37 1.92 1.59 2.36 2.85 4.54 4.26 4.26 eps without NRI
-- -- -- -- -- -- -- -- -- -- -- -- -- 2.92 4.97 4.52 4.52 Owner Earnings per Share (TTM)
-- -- -- -- -- -- -- 2.50 2.60 2.12 2.10 2.29 3.46 3.10 4.27 4.48 4.50 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- 0.32 0.40 0.48 0.64 0.84 1.08 1.08 Dividends per Share
-- -- -- -- -- -- -- -- 13.99 -0.69 -0.05 0.27 1.19 4.23 6.88 8.03 8.08 Book Value per Share
-- -- -- -- -- -- -- -- 5.78 -7.47 -6.41 -11.05 -10.09 -7.93 -8.23 -6.65 -6.69 Tangible Book per Share
-- -- -- -- -- -- -- -- 0.05 14.00 13.20 15.87 15.36 15.54 15.27 15.14 15.24 Total Debt per Share
-- -- -- -- -- -- -- -- -- 44.19 55.46 65.92 64.00 79.56 79.71 125 120 Month End Stock Price
Ratios
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 16.39 5.06 -- 1,480 330 106 82.63 57.06 59.30 Return on Equity %
-- -- -- -- -- -- -- -- 11.09 1.62 8.72 7.19 10.16 11.41 16.25 13.91 14.06 Return on Assets %
-- -- -- -- -- -- -- -- 105 67.48 82.73 65.25 100 137 132 126 112 Return on Capital %
-- -- -- -- -- -- -- -- 22.10 7.68 21.58 22.60 25.97 25.66 29.81 26.22 25.48 Return on Invested Capital %
-- -- -- -- -- -- -- -- -- -- -- -- 6.74 6.94 6.87 7.00 6.98 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- 30.00 1.51 4.12 3.80 4.31 7.19 3.70 3.90 3.91 Effective Interest Rate on Debt %
-- -- -- -- -- -- -- 40.07 40.80 41.63 40.30 42.02 44.22 44.55 42.95 43.88 43.88 Gross Margin %
-- -- -- -- -- -- -- 17.76 18.35 18.28 15.40 17.34 19.41 20.45 19.25 19.80 19.80 Operating Margin %
-- -- -- -- -- -- -- 10.79 10.88 1.56 8.27 7.44 10.24 11.35 15.92 14.08 14.08 Net Margin %
-- -- -- -- -- -- -- 11.87 12.34 9.84 9.65 10.72 14.97 12.37 14.96 14.81 14.81 FCF Margin %
-- -- -- -- -- -- -- 9,999 0.00 -20.33 -263 59.50 12.92 3.68 2.22 1.89 1.89 Debt to Equity
-- -- -- -- -- -- -- -- 0.68 -0.03 -0.00 0.01 0.05 0.16 0.23 0.26 0.26 Total Equity to Total Asset
-- -- -- -- -- -- -- -- 0.00 0.67 0.63 0.67 0.65 0.58 0.51 0.48 0.48 Total Debt to Total Asset
-- -- -- -- -- -- -- -- 41.62 43.24 42.51 40.62 43.89 44.80 43.84 43.35 43.81 Gross Profit to Total Asset %
-- -- -- -- -- -- -- -- 1.02 1.04 1.06 0.97 0.99 1.01 1.02 0.99 1.00 Asset Turnover
-- -- -- -- -- -- -- -- -- -- 0.17 0.25 0.20 0.23 0.19 0.25 0.25 Dividend Payout Ratio
-- -- -- -- -- -- -- -- 51.99 45.85 39.70 53.55 42.40 44.95 43.41 42.18 42.18 Days Sales Outstanding
-- -- -- -- -- -- -- -- 69.24 63.84 50.68 53.30 52.60 51.47 55.04 50.36 50.36 Days Accounts Payable
-- -- -- -- -- -- -- -- 50.71 53.46 51.49 56.84 62.09 62.92 60.91 62.69 65.89 Days Inventory
-- -- -- -- -- -- -- -- 33.46 35.47 40.51 57.09 51.89 56.40 49.28 54.51 57.71 Cash Conversion Cycle
-- -- -- -- -- -- -- -- 7.20 6.83 7.09 6.42 5.88 5.80 5.99 5.82 5.54 Inventory Turnover
-- -- -- -- -- -- -- 0.60 0.59 0.58 0.60 0.58 0.56 0.55 0.57 0.56 0.56 COGS to Revenue
-- -- -- -- -- -- -- -- 0.08 0.09 0.08 0.09 0.10 0.10 0.10 0.10 0.10 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALLE 2/7
Income Statement
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- 2,021 2,023 2,070 2,118 2,068 2,238 2,408 2,732 2,854 2,854 Revenue
-- -- -- -- -- -- -- 1,211 1,198 1,208 1,265 1,199 1,248 1,335 1,558 1,602 1,602 Cost of Goods Sold
-- -- -- -- -- -- -- 810 826 862 854 869 990 1,073 1,173 1,252 1,252 Gross Profit
-- -- -- -- -- -- -- 40.07 40.80 41.63 40.30 42.02 44.22 44.55 42.95 43.88 43.88 Gross Margin %
-- -- -- -- -- -- -- 451 454 483 527 511 555 580 648 687 687 Selling, General, & Admin. Expense
-- -- -- -- -- -- -- -0.00 -- -- 0.00 -- 0.00 0.00 -- -0.00 -0.00 Other Operating Expense
-- -- -- -- -- -- -- 359 371 378 326 359 434 493 526 565 565 Operating Income
-- -- -- -- -- -- -- 17.76 18.35 18.28 15.40 17.34 19.41 20.45 19.25 19.80 19.80 Operating Margin %
-- -- -- -- -- -- -- 0.40 0.10 0.80 1.10 1.50 1.90 1.20 0.80 1.80 1.80 Interest Income
-- -- -- -- -- -- -- -1.40 -1.50 -10.20 -53.80 -52.90 -64.30 -106 -54.00 -56.00 -56.00 Interest Expense
-- -- -- -- -- -- -- -1.00 -1.40 -9.40 -52.70 -51.40 -62.40 -105 -53.20 -54.20 -54.20 Net Interest Income
-- -- -- -- -- -- -- 4.20 -3.20 -146 -5.70 -97.90 -76.90 7.70 2.60 -35.70 -35.70 Other Income (Expense)
-- -- -- -- -- -- -- -6.30 -5.70 -12.50 2.60 -0.40 -2.10 -3.40 -0.50 -0.30 -0.40 Other Income (Minority Interest)
-- -- -- -- -- -- -- 362 367 223 268 209 295 396 475 475 475 Pre-Tax Income
-- -- -- -- -- -- -- -131 -137 -175 -84.20 -54.60 -63.80 -119 -39.80 -73.10 -73.10 Tax Provision
-- -- -- -- -- -- -- 36.03 37.28 78.33 31.43 26.09 21.63 30.07 8.38 15.38 15.38 Tax Rate %
-- -- -- -- -- -- -- 232 230 48.40 184 155 231 277 435 402 402 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -7.30 -4.20 -3.60 -11.10 -0.40 -- -- -- -- -- Net Income (Discontinued
Operations)
-- -- -- -- -- -- -- 218 220 32.30 175 154 229 273 435 402 402 Net Income
-- -- -- -- -- -- -- 10.79 10.88 1.56 8.27 7.44 10.24 11.35 15.92 14.08 14.08 Net Margin %
-- -- -- -- -- -- -- 2.27 2.29 0.34 1.82 1.60 2.39 2.87 4.58 4.29 4.30 EPS (Basic)
-- -- -- -- -- -- -- 2.27 2.29 0.34 1.80 1.59 2.36 2.85 4.54 4.26 4.26 EPS (Diluted)
-- -- -- -- -- -- -- 96.03 96.03 96.10 97.20 96.90 96.90 96.00 95.70 94.30 93.70 Shares Outstanding (Diluted
Average)
-- -- -- -- -- -- -- 46.00 43.80 46.10 48.80 53.20 66.90 66.90 86.20 83.00 83.00 Depreciation, Depletion and
Amortization
-- -- -- -- -- -- -- 410 412 280 371 315 426 568 615 614 614 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALLE 3/7
Balance Sheet
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 318 227 291 200 312 466 284 355 355 Cash And Cash Equivalents
-- -- -- -- -- -- -- -- 318 227 291 200 312 466 284 355 355 Cash, Cash Equivalents, Marketable
Securities
-- -- -- -- -- -- -- -- 288 260 230 303 260 297 325 330 330 Accounts Receivable
-- -- -- -- -- -- -- -- 80.40 68.40 52.70 58.90 56.70 66.60 117 117 117 Inventories, Raw Materials &
Components
-- -- -- -- -- -- -- -- 22.20 34.50 26.00 30.00 23.60 29.80 34.40 33.10 33.10 Inventories, Work In Process
-- -- -- -- -- -- -- -- -31.70 -- -- -- -- -- -- -- -- Inventories, Inventories
Adjustments
-- -- -- -- -- -- -- -- 95.50 84.60 90.60 115 140 143 129 120 120 Inventories, Finished Goods
-- -- -- -- -- -- -- -- -0.00 -- -- -0.00 -0.00 -- 0.00 -- -- Inventories, Other
-- -- -- -- -- -- -- -- 166 188 169 204 221 240 280 270 270 Total Inventories
-- -- -- -- -- -- -- -- 44.10 113 312 17.40 24.40 17.90 27.20 32.60 32.60 Other Current Assets
-- -- -- -- -- -- -- -- 910 947 1,002 735 829 1,033 932 1,002 1,002 Total Current Assets
-- -- -- -- -- -- -- -- 16.50 16.50 13.70 14.50 14.50 16.00 15.60 16.60 16.60 Land And Improvements
-- -- -- -- -- -- -- -- 133 126 117 126 128 142 148 155 155 Buildings And Improvements
-- -- -- -- -- -- -- -- 438 424 428 442 480 525 554 572 572 Machinery, Furniture, Equipment
-- -- -- -- -- -- -- -- -- -- 21.00 34.10 18.20 24.40 31.10 42.50 42.50 Construction In Progress
-- -- -- -- -- -- -- -- 587 566 580 617 640 708 749 786 786 Gross Property, Plant and Equipment
-- -- -- -- -- -- -- -- -355 -366 -373 -392 -414 -456 -472 -495 -495 Accumulated Depreciation
-- -- -- -- -- -- -- -- 232 200 207 225 227 252 277 291 291 Property, Plant and Equipment
-- -- -- -- -- -- -- -- 788 651 610 1,087 1,074 1,156 1,430 1,384 1,384 Intangible Assets
-- -- -- -- -- -- -- -- 638 505 484 714 717 761 883 873 873 Goodwill
-- -- -- -- -- -- -- -- 53.50 203 197 217 117 102 172 290 290 Other Long Term Assets
-- -- -- -- -- -- -- -- 1,984 2,001 2,016 2,263 2,247 2,542 2,810 2,967 2,967 Total Assets
-- -- -- -- -- -- -- -- 227 211 176 175 180 188 235 221 221 Accounts Payable
-- -- -- -- -- -- -- -- -- -- -- 9.10 2.70 18.20 20.20 12.80 12.80 Total Tax Payable
-- -- -- -- -- -- -- -- 320 323 274 309 300 341 390 409 409 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- 2.20 71.90 49.60 65.60 48.20 35.00 35.30 0.10 0.10 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- 0.10 23.90 33.50 -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- -- -- -- -- 0.10 23.90 33.50 -- -- -- -- -- -- DeferredTaxAndRevenue
-- -- -- -- -- -- -- -- 60.50 71.90 175 72.40 81.00 84.70 95.30 98.40 98.40 Other Current Liabilities
-- -- -- -- -- -- -- -- 383 491 533 447 430 461 521 507 507 Total Current Liabilities
-- -- -- -- -- -- -- -- 2.80 1,272 1,215 1,458 1,416 1,442 1,410 1,428 1,428 Long-Term Debt
-- -- -- -- -- -- -- -- 2.80 1,272 1,215 1,458 1,416 1,442 1,410 1,428 1,428 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- -- -- 9,999 0.00 -20.33 -263 59.50 12.92 3.68 2.22 1.89 1.89 Debt to Equity
-- -- -- -- -- -- -- -- 122 111 122 145 135 85.90 81.20 87.70 87.70 PensionAndRetirementBenefit
-- -- -- -- -- -- -- -- 92.00 86.70 57.00 120 119 124 116 108 108 NonCurrent Deferred Liabilities
-- -- -- -- -- -- -- -- 23.00 31.10 23.30 4.10 3.10 3.90 3.00 3.00 3.00 Minority Interest
-- -- -- -- -- -- -- -- 18.60 75.80 70.90 63.30 32.60 23.90 28.80 76.70 76.70 Other Long-Term Liabilities
-- -- -- -- -- -- -- -- 618 2,036 1,997 2,233 2,131 2,137 2,156 2,207 2,207 Total Liabilities
-- -- -- -- -- -- -- -- -- 1.00 1.00 1.00 1.00 1.00 0.90 0.90 0.90 Common Stock
-- -- -- -- -- -- -- -- -- 1.10 142 232 377 544 874 975 975 Retained Earnings
-- -- -- -- -- -- -- -- -7.70 -96.70 -148 -232 -264 -153 -224 -219 -219 Accumulated other comprehensive
income (loss)
-- -- -- -- -- -- -- -- -- 28.50 -- 24.40 -- 9.10 -- -- -- Additional Paid-In Capital
-- -- -- -- -- -- -- -- 1,343 -66.10 -4.80 25.60 113 402 651 757 757 Total Equity
-- -- -- -- -- -- -- -- 0.68 -0.03 -0.00 0.01 0.05 0.16 0.23 0.26 0.26 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALLE 4/7
Cashflow Statement
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- 232 230 48.40 184 155 231 277 435 402 402 Net Income
-- -- -- -- -- -- -- 232 230 48.40 184 155 231 277 435 402 402 Net Income From Continuing
Operations
-- -- -- -- -- -- -- 46.00 43.80 46.10 48.80 53.20 66.90 66.90 86.20 83.00 83.00 Depreciation, Depletion and
Amortization
-- -- -- -- -- -- -- -12.00 2.00 27.90 -8.00 -13.50 -19.80 -22.70 -8.60 -6.00 -- Change In Receivables
-- -- -- -- -- -- -- -12.90 -1.20 3.90 3.40 -5.80 -15.60 -4.40 -19.70 5.40 -- Change In Inventory
-- -- -- -- -- -- -- 25.50 8.00 -16.70 43.40 -14.70 3.40 0.40 33.90 -11.00 -- Change In Payables And Accrued
Expense
-- -- -- -- -- -- -- -17.20 -9.30 30.60 -14.30 -41.50 -5.90 -28.20 -11.00 -22.20 -22.20 Change In Working Capital
-- -- -- -- -- -- -- 0.80 -3.60 17.70 17.20 -2.00 6.30 24.90 -64.40 -30.20 -- Change In DeferredTax
-- -- -- -- -- -- -- -- -- 0.80 13.10 14.60 16.60 16.20 19.60 20.40 -- Stock Based Compensation
-- -- -- -- -- -- -- 11.50 12.80 -51.90 6.00 78.40 62.40 -9.30 -8.00 29.20 25.30 Cash Flow from Others
-- -- -- -- -- -- -- 266 269 224 256 257 378 347 458 488 488 Cash Flow from Operations
-- -- -- -- -- -- -- -25.50 -19.60 -20.20 -51.50 -35.20 -42.50 -49.30 -49.10 -65.60 -65.60 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -- -- 2.80 2.10 41.70 0.50 0.30 0.10 3.10 0.20 -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -- -- -25.20 -511 -35.70 -20.80 -376 -7.60 -4.90 Purchase Of Business
-- -- -- -- -- -- -- 19.20 -- -- 1.20 0.10 -- 15.60 -- 3.30 -- Sale Of Business
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -14.30 -- -- Purchase Of Investment
-- -- -- -- -- -- -- -- -- -- -- 12.30 14.10 -- -- -- -- Sale Of Investment
-- -- -- -- -- -- -- -- 0.00 -40.20 40.20 0.00 0.00 1.20 -4.50 -7.70 -7.40 Cash From Other Investing Activities
-- -- -- -- -- -- -- -3.50 -17.50 -18.70 -34.80 -534 -64.00 -50.20 -444 -77.60 -77.60 Cash Flow from Investing
-- -- -- -- -- -- -- -- -- 1.30 14.10 11.00 5.80 7.20 3.20 -- -- Issuance of Stock
-- -- -- -- -- -- -- -- -- -- -50.30 -30.00 -85.10 -60.00 -67.30 -226 -226 Repurchase of Stock
-- -- -- -- -- -- -- -2.60 -1.10 1,339 -78.00 278 -64.40 10.10 -36.10 -17.90 -17.90 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -30.00 -38.30 -46.00 -60.90 -79.40 -101 -101 Cash Flow for Dividends
-- -- -- -- -- -- -- -251 -317 -1,631 8.30 -15.00 -0.50 -40.10 -0.60 2.30 2.30 Other Financing
-- -- -- -- -- -- -- -254 -318 -292 -150 195 -196 -151 -183 -342 -342 Cash Flow from Financing
-- -- -- -- -- -- -- -1.50 -59.30 -90.10 63.10 -90.80 113 154 -176 68.10 68.10 Net Change in Cash
-- -- -- -- -- -- -- -25.50 -19.60 -20.20 -51.50 -35.20 -42.50 -49.30 -49.10 -65.60 -65.60 Capital Expenditure
-- -- -- -- -- -- -- 240 250 204 204 222 335 298 409 423 423 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALLE 5/7
Valuation Ratios
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- 136 30.64 41.46 27.00 27.92 17.56 29.23 28.22 PE Ratio(TTM)
-- -- -- -- -- -- -- -- -- -- -- -- -- 27.27 16.04 27.55 26.57 Price to Owner Earnings (TTM)
-- -- -- -- -- -- -- -- -- -- -- 247 53.83 18.83 11.59 15.51 14.85 Price to Book
-- -- -- -- -- -- -- -- -- 20.83 26.32 28.67 18.53 25.61 18.64 27.68 26.69 Price-to-Free-Cash-Flow Ratio
-- -- -- -- -- -- -- -- -- 18.96 21.02 24.76 16.45 21.98 16.64 23.97 23.13 Price-to-Operating-Cash-Flow Ratio
-- -- -- -- -- -- -- -- -- 2.05 2.54 3.08 2.77 3.17 2.79 4.11 3.97 PS Ratio
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 1.02 1.67 1.84 PEG Ratio
-- -- -- -- -- -- -- -- -- 2.60 2.98 3.70 3.24 3.56 3.19 4.47 4.27 EV-to-Revenue
-- -- -- -- -- -- -- -- -- 19.32 17.04 24.27 17.02 15.09 14.15 20.75 19.84 EV-to-EBITDA
-- -- -- -- -- -- -- -- -- 23.15 19.62 29.20 20.18 17.11 16.45 23.99 22.97 EV-to-EBIT
-- -- -- -- -- -- -- -- -- 4.32 5.10 3.42 4.96 5.84 6.08 4.17 4.37 Return on Capital %
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 21.05 20.29 20.38 Forward Rate of Return
-- -- -- -- -- -- -- -- -- -- 0.58 0.61 0.75 0.80 1.05 0.87 0.90 Dividend Yield %
Valuation and Quality
-- -- -- -- -- -- -- Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Market Cap
-- -- -- -- -- -- -- -- -- 4,244 5,315 6,328 6,098 7,563 7,544 11,744 11,121
-- -- -- -- -- -- -- -- -- 5,391 6,312 7,655 7,252 8,578 8,708 12,820 12,197 Enterprise Value
-- -- -- -- -- -- -- -- -- 44.19 55.46 65.92 64.00 79.56 79.71 125 120 Month End Stock Price
-- -- -- -- -- -- -- -- -3.36 -19.15 -18.05 -21.23 -19.12 -17.61 -19.82 -19.67 -19.79 Net Cash (per share)
-- -- -- -- -- -- -- -- 2.80 -11.66 -10.63 -15.65 -13.70 -11.65 -12.97 -12.81 -12.89 Net Current Asset Value (per share)
-- -- -- -- -- -- -- -- -0.25 -16.15 -15.37 -17.79 -15.92 -14.01 -15.76 -15.61 -15.71 Net-Net Working Capital (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 34.23 54.10 54.10 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 78.36 74.46 74.46 Peter Lynch Fair Value (per share)
-- -- -- -- -- -- -- -- 17.26 -- -- -- -- -- -- -- -- Graham Number (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- 43.38 43.02 52.77 52.77 Earnings Power Value (EPV)
-- -- -- -- -- -- -- -- -- 2.95 3.55 3.29 3.69 4.29 4.30 5.39 5.26 Altman Z-Score
-- -- -- -- -- -- -- 9,999 9,999 9,999 6.00 5.00 7.00 9.00 7.00 7.00 7.00 Piotroski F-Score
-- -- -- -- -- -- -- -- -- -- -2.77 -2.02 -2.82 -2.49 -2.34 -2.54 -2.54 Beneish M-Score
-- -- -- -- -- -- -- -- -- 0.55 0.50 0.67 0.56 0.63 0.71 0.65 0.64 Scaled Net Operating Assets
-- -- -- -- -- -- -- -- -1.59 -8.64 -2.28 19.03 -3.76 -0.93 14.98 -0.30 -0.30 Sloan Ratio (%)
-- -- -- -- -- -- -- -- 2.38 1.93 1.88 1.64 1.93 2.24 1.79 1.98 1.98 Current Ratio
-- -- -- -- -- -- -- -- 1.94 1.55 1.56 1.19 1.42 1.72 1.25 1.44 1.44 Quick Ratio
-- -- -- -- -- -- -- -- -- 48.48 57.62 68.03 72.82 89.56 93.10 126 139 Highest Stock Price
-- -- -- -- -- -- -- -- -- -- 43.65 52.79 53.77 64.00 74.82 79.50 87.10 Lowest Stock Price
-- -- -- -- -- -- -- -- -- -- 0.21 -0.17 0.75 0.22 0.45 0.36 0.99 Shares Buyback Ratio (%)
-- -- -- -- -- -- -- -- 0.10 2.21 1.19 -2.06 8.21 8.61 13.79 6.03 5.97 YoY Rev. per Sh. Growth (%)
-- -- -- -- -- -- -- -- 0.92 -85.17 429 -11.67 48.43 20.76 59.30 -6.17 -6.17 YoY EPS Growth (%)
-- -- -- -- -- -- -- -- 0.59 -32.14 30.95 -14.61 35.12 34.61 8.63 1.28 1.23 YoY EBITDA Growth (%)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 17.26 17.48 15.40 EBITDA 5-Y Growth (%)
-- -- -- -- -- -- -- 96.03 96.03 96.00 96.10 95.90 95.80 95.10 95.00 93.60 93.00 Shares Outstanding (Basic Average)
-- -- -- -- -- -- -- 96.03 96.03 96.03 95.83 95.99 95.27 95.06 94.64 94.30 92.60 Shares Outstanding (EOP)
-- -- -- -- -- -- -- -- -- -- -- -- 1.07 1.12 1.12 1.22 1.22 Beta
-- -- -- -- -- -- -- 03/10/14 02/27/15 03/10/14 02/27/15 02/26/16 02/17/17 02/20/18 02/19/19 02/18/20 Filing Date
-- -- -- -- -- -- -- 03/10/14 02/27/15 02/26/16 02/17/17 02/20/18 02/19/19 02/18/20 02/18/20 02/18/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALLE 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALLE 7/7
Comerica Inc (NYSE:CMA) 03/03/2020 2:00PM EST GuruFocus
Price: $ 50.86 -4.16(-7.56%) Market Cap: $ 7.19 B Enterprise Value: $-3,842 Stock PDF
Financial Strength : 3/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 6.47
Cash to Debt 0.79 Net-margin (%) 35.84
Forward P/E N/A
Equity to Asset 0.10 ROE (%) 16.20
F-Score: PE(NRI) 6.47
ROA (%) 1.66
9999 P/B 0.98
M-Score: Revenue Growth (3Y)(%) 11.20
-2.51 P/S 2.30
EPS Growth (3Y)(%) 43.20
PFCF 7.57
POCF 6.97
Shiller P/E 13.25
Warning Signs Quarterly Revenues Company Description
Stock buyback: Poor Mar Jun Sep Dec Full Year Comerica is a financial services company headquartered in Dallas. It has three major business segments: the
business bank, the retail bank, and wealth management. Comerica is primarily focused on relationship-based
buyback track record 2016 691 713 722 722 2,848 commercial banking. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida, and
2017 741 776 821 830 3,168 Michigan, with select businesses operating in several other states as well as in Canada and Mexico.... (Read More)
Insider Sell: Insider Selling , , , , , ,
2018 793 838 833 864 3,328 Competitors: XTER:CBK MIL:MB BOG:GRUPOAVAL TPE:2880 XSGO:BSANTANDER TPE:5880
BKK:BBL, TSE:8308, BOG:BOGOTA, BOM:541153, CAI:COMI.CA, HKSE:02066, MIC:VTBR, XSGO:CHILE,
2019 844 853 842 804 3,343 SHSE:601009, XKRX:086790, SAU:1080, NAS:SBNY, TPE:2885, SAU:1150
Good Signs 2020
Insider Trades
Dividend Yield %: Close to Quarterly Earnings per Share
10-year high Mar Jun Sep Dec Full Year
PE Ratio: Close to 10-year 2016 0.34 0.58 0.84 0.92 2.68
low 2017 1.11 1.13 1.26 0.63 4.13
2018 1.59 1.87 1.86 1.88 7.20
PB Ratio: Close to 3-year low 2019 2.11 1.94 1.96 1.85 7.86
PS Ratio: Close to 3-year low 2020
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
GuruFocus does not 2016 0.21 0.22 0.23 0.23 0.89
calculate intrinsic value: DCF 2017 0.23 0.26 0.30 0.30 1.09
(Earnings Based) for 2018 0.30 0.34 0.60 0.60 1.84
companies with one star 2019 0.67 0.67 0.67 0.67 2.68
predictability or not rated. But 2020
you can go to each stock's Growth Rate
DCF page to calculate
yourself. Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 3.50 10.00 13.80
Reverse DCF EBITDA Growth (%) 0.00 0.00 0.00
GuruFocus does not Free Cash Flow Growth (%) 22.20 22.60 -25.50
calculate reverse DCF growth Book Value Growth (%) 4.70 4.10 10.00
rate for companies with one EPS Growth (%) 0.00 24.90 9.30
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMA 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
15.36 16.47 17.45 18.63 18.17 17.56 14.08 13.15 13.53 13.60 13.54 15.05 16.09 17.80 19.46 22.14 22.12 Revenue per Share
4.36 5.11 5.49 4.43 1.28 -0.79 0.88 2.09 2.67 2.85 3.16 2.84 2.68 4.14 7.20 7.87 7.86 Earnings per Share (diluted)
4.36 4.84 4.81 4.40 1.28 -0.79 0.78 2.09 2.67 2.85 3.16 2.84 2.68 4.14 7.20 7.87 7.86 eps without NRI
5.94 5.29 6.17 4.61 -0.31 -2.28 3.29 2.30 2.28 3.25 2.83 3.01 0.60 5.19 9.03 6.35 6.35 Owner Earnings per Share (TTM)
5.37 4.24 4.99 5.32 4.67 0.11 6.90 3.63 3.21 3.93 3.08 4.12 2.21 5.71 8.92 6.65 6.73 Free Cashflow per Share
2.08 2.20 2.36 2.56 2.31 0.20 0.25 0.40 0.55 0.68 0.79 0.83 0.89 1.09 1.84 2.68 2.68 Dividends per Share
29.95 31.11 32.70 34.00 33.22 32.27 32.82 34.80 36.87 39.22 41.35 43.03 44.47 46.07 46.89 51.56 51.56 Book Value per Share
29.95 31.11 32.70 34.00 33.22 31.22 31.93 34.80 36.87 39.22 41.35 43.03 44.47 46.07 46.89 51.56 51.56 Tangible Book per Share
26.27 26.17 41.78 77.26 111 76.21 35.51 25.41 25.65 20.82 15.59 17.54 29.58 26.80 40.65 51.66 51.66 Total Debt per Share
61.02 56.76 58.68 43.53 19.85 29.57 42.24 25.80 30.34 47.54 46.84 41.83 68.11 86.81 68.69 71.75 50.86 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
14.82 16.93 17.47 13.36 3.13 -1.66 2.39 6.14 7.46 7.56 8.05 6.88 6.16 9.37 15.86 16.06 16.20 Return on Equity %
1.45 1.64 1.61 1.14 0.33 0.03 0.49 0.69 0.83 0.83 0.88 0.74 0.66 1.03 1.73 1.66 1.66 Return on Assets %
8.16 11.21 10.73 11.38 15.19 6.32 4.55 5.31 5.49 8.67 7.11 7.40 8.94 9.82 9.41 8.71 7.82 Weighted Average Cost Of Capital (WACC) %
8.97 17.62 26.53 18.97 8.70 3.80 2.33 2.77 2.74 2.60 2.88 3.24 2.71 2.47 4.79 6.76 6.28 Effective Interest Rate on Debt %
28.38 31.03 31.47 23.75 7.87 0.65 11.38 16.07 20.05 21.27 23.68 19.13 16.75 23.45 37.11 35.84 35.84 Net Margin %
34.98 25.73 28.61 28.57 25.70 0.65 49.03 27.61 23.75 28.85 22.72 27.39 13.73 32.07 45.85 30.03 30.03 FCF Margin %
0.88 0.84 1.28 2.27 2.35 1.64 1.08 0.73 0.70 0.53 0.38 0.41 0.67 0.58 0.87 1.00 1.00 Debt to Equity
0.10 0.10 0.09 0.08 0.11 0.12 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.10 0.10 Total Equity to Total Asset
0.09 0.08 0.11 0.19 0.25 0.19 0.12 0.08 0.07 0.06 0.04 0.04 0.07 0.07 0.09 0.10 0.10 Total Debt to Total Asset
5.11 5.30 5.11 4.80 4.17 4.13 4.31 4.26 4.12 3.91 3.73 3.86 3.93 4.38 4.67 4.64 4.64 Gross Profit to Total Asset %
0.05 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.05 0.05 0.05 Asset Turnover
0.48 0.46 0.49 0.58 1.81 -- 0.32 0.19 0.21 0.24 0.25 0.29 0.33 0.26 0.26 0.34 0.34 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMA 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,667 2,775 2,838 2,888 2,708 2,617 2,435 2,445 2,598 2,544 2,504 2,724 2,848 3,168 3,328 3,343 3,343 Revenue
2,667 2,775 2,838 2,888 2,708 2,617 2,435 2,445 2,598 2,544 2,504 2,724 2,848 3,168 3,328 3,343 3,343 Gross Profit
919 964 1,007 1,161 1,333 1,244 1,196 1,235 1,280 1,272 1,242 1,487 1,519 1,532 1,461 1,458 1,458 Selling, General, & Admin. Expense
1,748 1,811 1,831 1,727 1,375 1,373 1,239 1,210 1,318 1,272 1,262 1,237 1,329 1,636 1,867 1,885 1,885 Other Operating Expense
2,238 2,726 3,422 3,730 3,051 2,105 1,853 1,809 1,863 1,784 1,750 1,784 1,909 2,182 2,619 2,807 2,807 Interest Income
-428 -770 -1,439 -1,727 -1,236 -538 -207 -156 -135 -112 -95.00 -95.00 -112 -121 -267 -468 -468 Interest Expense
1,810 1,956 1,983 2,003 1,815 1,567 1,646 1,653 1,728 1,672 1,655 1,689 1,797 2,061 2,352 2,339 2,339 Net Interest Income
1,110 1,209 1,127 988 271 -115 315 530 762 786 870 750 670 1,234 1,535 1,532 1,532 Other Income (Expense)
1,110 1,209 1,127 988 271 -115 315 530 762 786 870 750 670 1,234 1,535 1,532 1,532 Pre-Tax Income
-353 -393 -345 -306 -59.00 131 -55.00 -137 -241 -245 -277 -229 -193 -491 -300 -334 -334 Tax Provision
31.80 32.51 30.61 30.97 21.77 114 17.46 25.85 31.63 31.17 31.84 30.53 28.81 39.79 19.54 21.80 21.80 Tax Rate %
757 816 782 682 212 16.00 260 393 521 541 593 521 477 743 1,235 1,198 1,198 Net Income (Continuing Operations)
-- 45.00 111 4.00 1.00 1.00 17.00 -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
757 861 893 686 213 17.00 277 393 521 541 593 521 477 743 1,235 1,198 1,198 Net Income
28.38 31.03 31.47 23.75 7.87 0.65 11.38 16.07 20.05 21.27 23.68 19.13 16.75 23.45 37.11 35.84 35.84 Net Margin %
-- -- -- -- 17.00 134 123 -- -- -- -- -- -- -- -- -- -- Preferred dividends
4.41 5.17 5.57 4.49 1.29 -0.79 0.90 2.11 2.68 2.92 3.28 2.93 2.74 4.23 7.31 7.95 7.94 EPS (Basic)
4.36 5.11 5.49 4.43 1.28 -0.79 0.88 2.09 2.67 2.85 3.16 2.84 2.68 4.14 7.20 7.87 7.86 EPS (Diluted)
174 168 163 155 149 149 173 186 192 187 185 181 177 178 171 151 144 Shares Outstanding (Diluted
Average)
129 80.00 82.00 96.00 114 122 124 122 133 122 123 118 121 121 120 114 114 Depreciation, Depletion and
Amortization
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMA 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,139 1,609 1,434 1,478 3,221 5,617 2,083 3,556 4,434 6,451 6,071 6,147 7,218 5,845 4,561 5,818 5,818 Cash And Cash Equivalents
-- -- -- 335 158 138 141 10,253 10,422 9,419 8,215 10,632 10,879 11,034 12,179 12,553 12,553 Marketable Securities
1,139 1,609 1,434 1,813 3,379 5,755 2,224 13,809 14,856 15,870 14,286 16,779 18,097 16,879 16,740 18,371 18,371 Cash, Cash Equivalents, Marketable
Securities
1,139 1,609 1,434 1,813 3,379 9,844 5,986 18,380 18,919 19,758 18,720 20,896 22,537 21,374 20,851 23,213 23,213 Total Current Assets
7,173 5,399 3,989 6,631 9,359 7,554 7,701 10,253 10,422 9,419 10,150 12,613 12,461 12,300 12,179 12,553 12,553 Investments And Advances
-- -- -- 95.00 92.00 93.00 92.00 94.00 90.00 90.00 88.00 87.00 86.00 85.00 85.00 86.00 86.00 Land And Improvements
-- -- -- 707 753 754 778 830 816 830 808 862 831 813 842 818 818 Buildings And Improvements
-- -- -- 465 494 508 503 527 509 515 508 490 499 484 492 513 513 Machinery, Furniture, Equipment
415 510 568 1,267 1,339 1,355 1,373 1,451 1,415 1,435 1,404 1,439 1,416 1,382 1,419 1,417 1,417 Gross Property, Plant and Equipment
-- -- -- -617 -656 -711 -743 -776 -793 -841 -872 -889 -915 -916 -944 -960 -960 Accumulated Depreciation
415 510 568 650 683 644 630 675 622 594 532 550 501 466 475 457 457 Property, Plant and Equipment
-- -- -- -- -- 158 156 -- -- -- -- -- -- -- -- -- -- Intangible Assets
-- -- -- -- -- 150 150 -- -- -- -- -- -- -- --
-- Goodwill
--
43,039 45,495 52,010 53,237 54,127 41,049 39,194 31,700 35,106 35,453 39,784 37,818 37,479 37,427 37,313 37,179 37,179 Other Long Term Assets
51,766 53,013 58,001 62,331 67,548 59,249 53,667 61,008 65,069 65,224 69,186 71,877 72,978 71,567 70,818 73,402 73,402 Total Assets
-- -- -- 1,260 1,625 1,022 1,135 1,371 1,106 986 1,507 1,383 1,012 1,069 1,243 1,440 1,440 Accounts Payable & Accrued
Expense
193 302 635 2,807 1,749 462 130 70.00 110 1,253 116 23.00 25.00 10.00 44.00 71.00 71.00 Current Portion of Long-Term Debt
193 302 635 4,067 3,374 1,484 1,265 1,441 1,216 2,239 1,623 1,406 1,037 1,079 1,287 1,511 1,511 Total Current Liabilities
4,286 3,961 5,949 8,821 15,053 11,060 6,138 4,944 4,720 2,543 2,675 3,058 5,160 4,622 6,463 7,269 7,269 Long-Term Debt
4,286 3,961 5,949 8,821 15,053 11,060 6,138 4,944 4,720 2,543 2,675 3,058 5,160 4,622 6,463 7,269 7,269 Long-Term Debt & Capital Lease
Obligation
0.88 0.84 1.28 2.27 2.35 1.64 1.08 0.73 0.70 0.53 0.38 0.41 0.67 0.58 0.87 1.00 1.00 Debt to Equity
42,182 43,682 46,264 44,326 41,969 39,676 40,471 47,755 52,191 53,292 57,486 59,853 58,985 57,903 55,561 57,295 57,295 Other Long-Term Liabilities
46,661 47,945 52,848 57,214 60,396 52,220 47,874 54,140 58,127 58,074 61,784 64,317 65,182 63,604 63,311 66,075 66,075 Total Liabilities
894 894 894 894 894 894 1,019 1,141 1,141 1,141 1,141 1,141 1,141 1,141 1,141 1,141 1,141 Common Stock
-- -- -- -- 2,129 2,151 -- -- -- -- -- -- -- -- -- -- -- Preferred Stock
4,331 4,796 5,282 5,497 5,345 5,161 5,247 5,546 5,931 6,318 6,744 7,084 7,331 7,887 8,781 9,538 9,538 Retained Earnings
-69.00 -170 -324 -177 -309 -336 -389 -356 -413 -391 -412 -429 -383 -451 -609 -235 -235 Accumulated other comprehensive
income (loss)
421 461 520 564 722 740 1,481 2,170 2,162 2,179 2,188 2,173 2,135 2,122 2,148 2,174 2,174 Additional Paid-In Capital
-472 -913 -1,219 -1,661 -1,629 -1,581 -1,565 -1,633 -1,879 -2,097 -2,259 -2,409 -2,428 -2,736 -3,954 -5,291 -5,291 Treasury Stock
5,105 5,068 5,153 5,117 7,152 7,029 5,793 6,868 6,942 7,150 7,402 7,560 7,796 7,963 7,507 7,327 7,327 Total Equity
0.10 0.10 0.09 0.08 0.11 0.12 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.10 0.10 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMA 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
757 861 893 682 212 16.00 260 393 521 541 593 521 477 743 1,235 1,198 1,198 Net Income
757 861 893 682 212 16.00 260 393 521 541 593 521 477 743 1,235 1,198 1,198 Net Income From Continuing
Operations
129 80.00 82.00 96.00 114 122 124 122 133 122 123 118 121 121 120 114 114 Depreciation, Depletion and
Amortization
-- -- -- -- 82.00 62.00 15.00 -8.00 5.00 7.00 -4.00 -12.00 -20.00 -33.00 -45.00 17.00 17.00 Change In Receivables
-- -- -- 37.00 -306 -311 57.00 59.00 35.00 38.00 -14.00 -35.00 37.00 41.00 49.00 -27.00 -27.00 Change In Payables And Accrued
Expense
190 10.00 -- 37.00 -131 -229 518 -16.00 -281 49.00 -248 58.00 -349 47.00 188 -328 -328 Change In Working Capital
-- -- -- -53.00 -99.00 -112 -202 79.00 158 -20.00 130 -71.00 -51.00 79.00 24.00 12.00 12.00 Change In DeferredTax
-- -- -- 59.00 51.00 32.00 32.00 37.00 37.00 35.00 38.00 38.00 34.00 39.00 48.00 39.00 39.00 Stock Based Compensation
-48.00 -105 -- 189 714 261 537 168 124 105 7.00 203 254 56.00 1.00 55.00 55.00 Cash Flow from Others
1,028 846 975 1,014 862 91.00 1,286 796 692 836 639 865 486 1,085 1,616 1,090 1,090 Cash Flow from Operations
-95.00 -132 -163 -189 -166 -74.00 -92.00 -121 -75.00 -102 -70.00 -119 -95.00 -69.00 -90.00 -86.00 -86.00 Purchase Of Property, Plant,
Equipment
-- -- -- 3.00 -- 7.00 -- 721 -- -- -- -- -- -- -- -- -- Sale Of Business
-867 -1,647 -2,410 -3,519 -4,496 -9,011 -2,410 -4,453 -4,032 -2,225 -2,372 -4,590 -2,045 -3,112 -3,032 -3,346 -3,346 Purchase Of Investment
2,046 3,417 1,338 897 1,823 11,038 2,303 3,563 3,839 2,849 1,781 2,081 2,101 3,193 3,037 3,249 3,249 Sale Of Investment
-795 -2,516 -4,057 -3,561 -578 7,509 1,405 -559 -3,408 652 -3,082 -627 -215 -132 -1,071 -311 -311 Cash From Other Investing Activities
289 -878 -5,292 -6,369 -3,417 9,469 1,206 -849 -3,676 1,174 -3,743 -3,255 -254 -120 -1,156 -494 -494 Cash Flow from Investing
-- -- -- 89.00 1.00 -- 849 4.00 3.00 33.00 49.00 22.00 157 118 52.00 18.00 18.00 Issuance of Stock
-298 -474 -339 -580 -1.00 -1.00 -4.00 -116 -308 -291 -260 -250 -320 -560 -1,338 -1,394 -1,394 Repurchase of Stock
-- -- -- -- 2,250 -- -2,250 -- -- -- -- -- -- -- -- -- -- Net Issuance of Preferred Stock
-553 -184 2,356 4,970 4,908 -5,170 -5,324 -1,599 -153 -937 -947 317 2,152 -531 1,884 727 727 Net Issuance of Debt
-357 -366 -377 -390 -395 -185 -72.00 -73.00 -97.00 -123 -137 -147 -152 -180 -263 -402 -402 Cash Flow for Dividends
-497 1,526 2,502 -1,286 -2,299 -2,010 775 3,310 4,517 1,225 4,019 2,524 -998 -1,185 -2,079 1,712 1,712 Other Financing
-1,705 502 4,142 2,803 4,464 -7,366 -6,026 1,526 3,962 -93.00 2,724 2,466 839 -2,338 -1,744 661 661 Cash Flow from Financing
-388 470 -175 -2,552 1,909 2,194 -3,534 1,473 978 1,917 -380 76.00 1,071 -1,373 -1,284 1,257 1,257 Net Change in Cash
-95.00 -132 -163 -189 -166 -74.00 -92.00 -121 -75.00 -102 -70.00 -119 -95.00 -69.00 -90.00 -86.00 -86.00 Capital Expenditure
933 714 812 825 696 17.00 1,194 675 617 734 569 746 391 1,016 1,526 1,004 1,004 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMA 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
14.00 11.11 10.71 9.85 15.39 -- 52.80 12.34 11.32 16.62 14.87 14.73 25.41 21.02 9.54 9.13 6.47 PE Ratio(TTM)
10.27 10.72 9.51 9.44 -- -- 12.85 11.22 13.30 14.65 16.54 13.88 113 16.73 7.61 11.30 8.02 Price to Owner Earnings
(TTM)
2.04 1.82 1.79 1.28 0.60 0.92 1.29 0.74 0.82 1.21 1.13 0.97 1.53 1.88 1.46 1.39 0.98 Price to Book
2.04 1.82 1.79 1.28 0.60 0.95 1.32 0.74 0.82 1.21 1.13 0.97 1.53 1.88 1.46 1.39 0.99 Price to Tangible Book
11.32 13.42 11.80 8.18 4.30 259 6.08 5.96 8.50 12.11 15.28 10.14 30.75 15.22 7.63 10.67 7.57 Price-to-Free-Cash-Flow
Ratio
10.28 11.32 9.82 6.66 3.46 48.40 5.65 5.96 8.50 10.63 13.60 8.74 24.76 14.25 7.21 9.83 6.97 Price-to-Operating-Cash-
Flow Ratio
3.97 3.41 3.37 2.34 1.09 1.68 2.98 1.96 2.24 3.49 3.46 2.77 4.24 4.87 3.53 3.24 2.30 PS Ratio
-- 4.08 1.95 1.32 -- -- -- -- 1.25 0.25 0.18 1.13 9.96 5.36 -- -- -- PEG Ratio
5.15 4.25 5.07 5.67 6.85 4.73 4.72 -1.51 -1.66 -1.34 -1.24 -2.33 -0.34 0.87 0.23 -0.25 -1.15 EV-to-Revenue
11.09 9.18 11.92 15.10 48.15 1,770 26.20 9.82 6.69 6.50 5.04 4.80 12.41 10.11 -- -- -- EV-to-EBITDA
5.17 12.75 15.73 19.90 17.49 -31.63 -38.14 -12.74 22.31 27.64 28.76 22.39 7.36 8.08 -- -- -- Forward Rate of Return
15.38 13.22 12.56 8.90 -- 7.14 11.33 7.30 8.91 14.52 15.40 15.33 28.55 37.06 23.69 18.69 13.25 Shiller PE Ratio
3.41 3.88 4.02 5.88 11.64 0.68 0.59 1.55 1.81 1.43 1.69 1.98 1.31 1.26 2.68 3.74 5.27 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
10,402 9,246 9,246 6,552 3,002 4,470 7,457 5,091 5,712 8,667 8,385 7,350 11,941 15,006 10,996 10,195 7,189 Market Cap
13,742 11,900 14,396 16,367 18,554 12,388 11,501 -3,704 -4,314 -3,407 -3,110 -6,348 -971 2,759 763 -836 -3,842 Enterprise Value
61.02 56.76 58.68 43.53 19.85 29.57 42.24 25.80 30.34 47.54 46.84 41.83 68.11 86.81 68.69 71.75 50.86 Month End Stock Price
-267 -284 -326 -368 -377 -307 -259 -204 -230 -232 -265 -271 -269 -270 -291 -336 -336 Net Cash (per share)
-267 -284 -326 -368 -391 -322 -259 -204 -230 -232 -265 -271 -269 -270 -291 -336 -336 Net-Net Working Capital (per
share)
81.96 81.03 82.15 86.71 98.18 80.30 63.64 62.85 65.86 65.62 67.43 76.15 69.27 75.06 89.49 109 109 Projected FCF (per share)
52.65 59.23 62.04 64.79 61.57 57.84 44.82 36.90 34.94 35.48 35.29 38.95 41.24 47.09 57.06 69.15 69.15 Median PS (per share)
-- -- 30.06 33.00 -- -- -- -- 24.16 71.50 87.63 37.09 -- -- -- -- -- Peter Lynch Fair Value (per
share)
54.20 58.21 59.49 58.01 30.93 -- 23.67 40.46 47.06 50.15 54.22 52.44 51.78 65.51 87.16 95.55 95.49 Graham Number (per share)
-22.58 -20.58 -37.83 -72.57 -105 -48.82 -30.61 37.54 47.53 61.12 59.05 72.46 67.31 65.96 57.92 71.58 71.58 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-2.54 -2.33 -2.60 -2.79 -2.75 -2.49 -2.50 -2.51 -2.40 -2.46 -2.44 -2.44 -2.58 -2.37 -2.56 -2.51 -2.51 Beneish M-Score
0.16 0.15 0.19 0.26 0.33 0.19 0.17 0.16 0.12 0.07 0.06 0.07 0.08 0.09 0.13 0.13 0.12 Scaled Net Operating
Assets
-1.08 1.68 8.98 9.69 4.10 -16.11 -4.13 0.73 5.39 -2.25 5.34 4.05 0.34 -0.31 1.09 0.82 0.82 Sloan Ratio (%)
63.46 63.21 60.07 63.72 45.14 31.70 44.60 43.36 33.57 47.63 52.37 52.65 70.03 87.74 102 88.31 88.35 Highest Stock Price
51.02 53.46 50.70 40.89 16.75 12.36 29.57 21.98 25.80 30.34 43.06 40.41 31.02 64.46 64.45 58.80 50.73 Lowest Stock Price
2.59 4.44 3.27 4.48 -0.46 0.02 -16.77 -11.78 4.59 3.17 1.80 1.85 0.22 1.40 7.39 11.24 11.24 Shares Buyback Ratio (%)
-3.75 7.22 5.94 6.79 -2.46 -3.36 -19.86 -6.61 2.94 0.54 -0.51 11.19 6.91 10.62 9.35 13.76 13.55 YoY Rev. per Sh. Growth
(%)
16.27 17.20 7.44 -19.31 -71.11 -162 211 138 27.75 6.74 10.88 -10.13 -5.63 54.48 73.91 9.31 9.17 YoY EPS Growth (%)
-4.31 2.86 6.25 7.50 -7.74 -45.27 -48.48 -28.82 9.05 67.32 75.58 13.06 2.55 3.92 -- -- -- EBITDA 5-Y Growth (%)
172 167 160 153 149 149 170 185 191 183 179 176 172 174 168 150 144 Shares Outstanding (Basic
Average)
170 163 158 151 151 151 177 197 188 182 179 176 175 173 160 142 142 Shares Outstanding (EOP)
0.84 1.12 0.29 0.56 0.78 1.17 1.16 1.35 1.16 1.53 1.18 1.20 1.48 1.71 1.64 1.50 1.48 Beta
03/03/05 03/03/06 02/27/07 02/26/08 02/24/09 02/25/10 02/28/11 02/21/12 02/19/13 02/14/14 02/17/15 02/26/16 02/15/17 02/15/18 02/12/19 02/11/20 Filing Date
03/03/06 02/27/07 02/27/07 02/24/09 02/28/11 02/28/11 02/19/13 02/14/14 02/17/15 02/26/16 02/15/17 02/15/18 02/12/19 02/11/20 02/11/20 02/11/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMA 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CMA 7/7
Hasbro Inc (NAS:HAS) 03/03/2020 2:00PM EST GuruFocus
Price: $ 76.46 -2.83(-3.57%) Market Cap: $ 10.47 B Enterprise Value: $9.93 B Stock PDF
Financial Strength : 6/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 19.11
Cash to Debt 1.13 Operating margin (%) 13.81
Forward P/E N/A
Equity to Asset 0.34 Net-margin (%) 11.03
PE(NRI) 19.11
Interest Coverage 6.40 ROE (%) 26.12
F-Score:
P/B 3.40
ROA (%) 8.78
7 P/S 2.07
Z-Score: ROC (Joel Greenblatt) (%) 65.02
3.34 PFCF 19.05
Revenue Growth (3Y)(%) -2.40
M-Score: POCF 15.14
-2.55 EBITDA Growth (3Y)(%) -2.80
EV-to-EBIT 14.28
WACC vs 8.07% EPS Growth (3Y)(%) -2.30
ROIC 24.48% Shiller P/E 23.34
WACC
ROIC Current Ratio 5.37
Quick Ratio 5.01
Days Inventory 83.27
Days Sales Outstanding 109.08
Warning Signs Quarterly Revenues Company Description
Long-Term Debt: Issuing new Mar Jun Sep Dec Full Year Hasbro is a branded play company providing children and families around the world with entertainment offerings
based on a world-class brand portfolio. From toys and games to television programming, motion pictures, and a
debt 2016 831 879 1,680 1,630 5,020 licensing program, Hasbro reaches customers by leveraging its well-known brands such as Transformers, Nerf, and
2017 850 973 1,792 1,596 5,210 Monopoly. Ownership stakes in Discovery Family, Backflip Studios, which develops mobile games, and animation
Operating Income: loss studio Boulder Media bolster Hasbro's digital presence. The firm is set to close on its $4 billion acquisition of
2018 716 904 1,570 1,389 4,580 Entertainment One, bolting on properties like Peppa Pig and PJ Masks, in the fourth quarter of 2019.... (Read More)
Insider Sell: Insider Selling 2019 733 985 1,575 1,428 4,720 Competitors: TSE:7309 , TSE:7832 , NAS:POOL , TSE:7951 , NYSE:PLNT, NAS:PTON, HKSE:02331 ,
2020 SZSE:300144, NYSE:BC, NAS:MAT, TSE:7731, NYSE:MANU, LSE:GAW, NYSE:FUN, TSE:8111, NYSE:SIX,
NYSE:YETI, NYSE:SEAS, OSTO:THULE, TSX:TOY
Good Signs Quarterly Earnings per Share
Insider Trades
Piotroski F-Score: High Mar Jun Sep Dec Full Year
2016 0.38 0.41 2.03 1.52 4.34
Dividend Yield %: Close to 5- 2017 0.54 0.53 2.09 -0.04 3.12
year high 2018 -0.90 0.48 2.06 0.07 1.71
PE Ratio: Close to 5-year low 2019 0.21 0.11 1.67 2.01 4.00
2020
PB Ratio: Close to 5-year low
Quarterly Dividends Per Share
PS Ratio: Close to 3-year low
Mar Jun Sep Dec Full Year
2016 0.46 0.51 0.51 0.51 1.99
DCF 2017 0.51 0.57 0.57 0.57 2.22
EPS without NRI: $4.00 2018 0.57 0.63 0.63 0.63 2.46
Growth Rate in the next 10 2019 0.63 0.68 0.68 0.68 2.67
years: 5% 2020
Terminal Growth Rate for 10 Growth Rate
years: 4%
Annual Rates(per share) 10-Y 5-Y 12-M
Fair Value: $42.81
Revenue Growth (%) 3.70 1.90 1.80
EBITDA Growth (%) 2.70 -2.20 63.60
Reverse DCF
Free Cash Flow Growth (%) 13.10 7.50 1.50
Expected eps Growth Rate:
13.97% Book Value Growth (%) 5.20 10.60 67.60
EPS Growth (%) 2.30 -3.70 132.80
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAS 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
14.68 15.87 17.67 22.42 25.91 26.63 27.47 32.95 31.00 30.98 32.93 35.11 39.54 41.01 36.09 36.73 36.65 Revenue per Share
2.15 2.52 2.93 3.82 4.22 5.06 5.05 5.66 5.27 4.84 6.09 6.76 7.44 8.32 4.17 6.82 6.77 EBITDA per Share
1.44 1.60 2.11 2.90 3.15 3.87 4.05 4.42 4.13 3.47 4.87 5.53 6.22 6.96 2.85 5.42 5.36 EBIT per Share
0.96 1.09 1.29 1.97 2.00 2.48 2.74 2.82 2.55 2.17 3.20 3.57 4.34 3.12 1.74 4.05 4.00 Earnings per Share (diluted)
0.96 1.09 1.29 1.97 2.00 2.48 2.74 2.82 2.55 2.17 3.20 3.57 4.34 3.12 1.74 4.05 4.00 eps without NRI
1.69 2.26 1.26 2.73 3.15 0.82 1.95 2.96 3.33 2.02 2.39 3.43 5.12 4.52 3.75 2.89 2.89 Owner Earnings per Share (TTM)
1.37 2.19 1.34 2.98 3.07 1.06 1.75 2.28 3.20 2.19 2.63 3.39 5.22 4.64 3.98 4.04 4.01 Free Cashflow per Share
0.21 0.33 0.45 0.60 0.76 0.80 0.95 1.15 1.74 1.20 1.69 1.81 1.99 2.22 2.46 2.67 2.67 Dividends per Share
9.25 9.69 9.58 9.54 9.99 11.63 11.76 11.02 11.69 12.84 11.77 13.33 14.96 14.70 13.91 23.31 22.50 Book Value per Share
3.00 3.61 3.34 2.95 2.50 4.12 4.66 3.70 4.78 5.43 4.40 6.33 8.40 8.35 4.56 14.43 13.93 Tangible Book per Share
3.64 3.05 3.15 5.89 5.15 8.36 10.28 12.29 12.57 10.66 14.44 13.72 13.83 14.85 13.52 31.49 30.40 Total Debt per Share
19.38 20.18 27.25 25.58 29.17 32.06 47.18 31.89 35.90 55.01 54.99 67.36 77.79 90.89 81.25 106 76.46 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.87 12.61 14.11 22.79 22.10 25.12 24.78 25.41 22.98 17.95 26.42 28.88 31.27 21.48 12.30 21.91 26.12 Return on Equity %
6.12 6.48 7.19 10.51 9.58 10.61 9.96 9.37 7.95 6.56 9.33 9.78 11.24 7.64 4.18 7.37 8.78 Return on Assets %
86.61 107 157 117 91.88 88.85 63.75 55.04 49.04 40.47 55.62 58.54 67.41 75.82 34.28 63.72 65.02 Return on Capital %
13.99 14.69 19.12 26.78 23.36 23.26 20.91 20.21 17.64 16.13 20.40 21.47 25.82 18.59 12.34 24.10 24.48 Return on Invested Capital %
9.43 10.58 15.14 14.16 8.45 8.84 7.81 6.84 6.41 9.62 8.27 8.80 6.64 5.68 6.67 9.52 8.07 Weighted Average Cost Of Capital (WACC) %
-- -- -- 5.09 6.00 6.61 6.42 5.95 5.69 7.00 5.83 5.53 5.68 5.51 5.11 3.54 4.68 Effective Interest Rate on Debt %
58.24 58.34 58.63 58.92 57.91 50.66 51.56 49.24 51.72 50.72 53.15 53.77 53.88 53.18 51.91 52.92 52.92 Gross Margin %
9.78 10.06 11.94 13.53 12.29 14.47 14.69 13.86 13.49 11.44 14.85 15.56 15.70 15.55 7.23 13.81 13.81 Operating Margin %
6.54 6.87 7.30 8.68 7.63 9.22 9.94 8.99 8.22 7.01 9.72 10.16 10.98 7.61 4.81 11.03 11.03 Net Margin %
9.32 13.80 7.57 13.30 11.84 3.97 6.38 6.92 10.34 7.08 7.97 9.65 13.20 11.32 11.04 11.00 11.00 FCF Margin %
0.39 0.32 0.33 0.62 0.52 0.72 0.87 1.12 1.08 0.83 1.23 1.03 0.92 1.01 0.97 1.35 1.35 Debt to Equity
0.51 0.52 0.50 0.43 0.44 0.41 0.40 0.34 0.35 0.38 0.32 0.35 0.37 0.35 0.33 0.34 0.34 Total Equity to Total Asset
0.20 0.17 0.16 0.26 0.23 0.29 0.35 0.38 0.38 0.32 0.40 0.36 0.34 0.35 0.32 0.46 0.46 Total Debt to Total Asset
54.52 55.07 57.75 71.39 72.71 58.34 51.65 51.32 50.02 47.44 50.97 51.76 55.13 53.38 45.05 35.38 42.13 Gross Profit to Total Asset %
0.94 0.94 0.99 1.21 1.26 1.15 1.00 1.04 0.97 0.94 0.96 0.96 1.02 1.00 0.87 0.67 0.80 Asset Turnover
0.22 0.30 0.35 0.31 0.38 0.32 0.35 0.41 0.68 0.55 0.53 0.51 0.46 0.71 1.41 0.66 0.66 Dividend Payout Ratio
70.47 61.85 64.43 62.28 55.52 93.21 87.67 88.11 91.94 97.78 93.42 99.95 95.98 98.46 94.69 109 109 Days Sales Outstanding
48.87 43.27 44.79 43.11 39.77 31.53 24.95 22.63 25.87 36.07 38.72 42.82 50.38 52.15 55.28 56.49 56.49 Days Accounts Payable
53.04 53.09 53.57 53.53 60.33 46.23 53.86 58.57 60.10 60.31 62.70 64.26 60.87 61.42 72.65 73.04 83.27 Days Inventory
74.64 71.67 73.21 72.70 76.08 108 117 124 126 122 117 121 106 108 112 126 136 Cash Conversion Cycle
6.88 6.88 6.81 6.82 6.05 7.90 6.78 6.23 6.07 6.05 5.82 5.68 6.00 5.94 5.02 5.00 4.38 Inventory Turnover
0.42 0.42 0.41 0.41 0.42 0.49 0.48 0.51 0.48 0.49 0.47 0.46 0.46 0.47 0.48 0.47 0.47 COGS to Revenue
0.06 0.06 0.06 0.06 0.07 0.06 0.07 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.10 0.09 0.11 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAS 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,998 3,088 3,151 3,838 4,022 4,068 4,002 4,286 4,089 4,082 4,277 4,448 5,020 5,210 4,580 4,720 4,720 Revenue
1,252 1,286 1,304 1,577 1,693 2,007 1,939 2,175 1,974 2,012 2,004 2,056 2,315 2,439 2,202 2,222 2,222 Cost of Goods Sold
1,746 1,801 1,848 2,261 2,329 2,061 2,064 2,110 2,115 2,070 2,274 2,391 2,705 2,771 2,377 2,498 2,498 Gross Profit
58.24 58.34 58.63 58.92 57.91 50.66 51.56 49.24 51.72 50.72 53.15 53.77 53.88 53.18 51.91 52.92 52.92 Gross Margin %
1,002 991 1,051 1,190 1,565 1,206 1,202 1,236 1,270 1,270 1,316 1,370 1,580 1,627 1,727 1,451 1,451 Selling, General, & Admin. Expense
157 151 171 167 191 181 201 198 201 208 223 243 266 269 246 262 262 Research & Development
294 349 249 385 78.26 85.03 72.47 82.44 92.37 126 99.79 86.17 70.69 64.62 72.61 133 133 Other Operating Expense
293 311 376 519 494 589 588 594 552 467 635 692 788 810 331 652 652 Operating Income
9.78 10.06 11.94 13.53 12.29 14.47 14.69 13.86 13.49 11.44 14.85 15.56 15.70 15.55 7.23 13.81 13.81 Operating Margin %
-- -- -- 29.97 17.65 2.86 5.65 6.83 6.33 4.93 3.76 3.15 9.37 22.16 22.36 30.11 30.11 Interest Income
-- -- -- -34.62 -47.14 -61.60 -82.11 -89.02 -91.14 -106 -93.10 -97.12 -97.41 -98.27 -90.83 -102 -102 Interest Expense
-- -- -- -4.65 -29.49 -58.75 -76.46 -82.19 -84.81 -101 -89.34 -93.98 -88.04 -76.11 -68.47 -71.77 -71.77 Net Interest Income
-32.92 0.39 -34.89 -52.32 -23.75 -0.16 -3.68 -25.40 -13.57 -14.61 -6.05 5.96 -7.52 51.90 7.82 13.93 13.93 Other Income (Expense)
-- -- -- -- -- -- -- -- -- 2.27 2.62 4.97 18.23 -- -- -- -- Other Income (Minority Interest)
260 311 341 462 441 530 508 486 453 352 540 604 692 786 270 594 594 Pre-Tax Income
-64.11 -98.84 -111 -129 -134 -155 -110 -101 -117 -67.89 -127 -157 -159 -390 -49.97 -73.76 -73.76 Tax Provision
24.65 31.79 32.63 27.98 30.45 29.22 21.66 20.77 25.89 19.30 23.46 26.00 23.01 49.55 18.48 12.41 12.41 Tax Rate %
196 212 230 333 307 375 398 385 336 284 413 447 533 397 220 520 520 Net Income (Continuing Operations)
196 212 230 333 307 375 398 385 336 286 416 452 551 397 220 520 520 Net Income
6.54 6.87 7.30 8.68 7.63 9.22 9.94 8.99 8.22 7.01 9.72 10.16 10.98 7.61 4.81 11.03 11.03 Net Margin %
1.11 1.19 1.38 2.13 2.18 2.69 2.86 2.88 2.58 2.20 3.24 3.61 4.40 3.17 1.75 4.07 4.02 EPS (Basic)
0.96 1.09 1.29 1.97 2.00 2.48 2.74 2.82 2.55 2.17 3.20 3.57 4.34 3.12 1.74 4.05 4.00 EPS (Diluted)
204 195 178 171 155 153 146 130 132 132 130 127 127 127 127 128 133 Shares Outstanding (Diluted
Average)
146 180 147 157 166 181 146 160 150 181 158 155 154 172 168 181 181 Depreciation, Depletion and
Amortization
439 491 523 654 654 772 736 736 695 638 791 856 944 1,056 529 877 877 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAS 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
725 942 715 774 630 636 728 642 850 682 893 977 1,282 1,581 1,182 4,580 4,580 Cash And Cash Equivalents
725 942 715 774 630 636 728 642 850 682 893 977 1,282 1,581 1,182 4,580 4,580 Cash, Cash Equivalents, Marketable
Securities
579 523 556 655 612 1,039 961 1,035 1,030 1,094 1,095 1,218 1,320 1,405 1,188 1,411 1,411 Accounts Receivable
11.28 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Raw Materials &
Components
4.70 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Work In Process
179 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Finished Goods
-- 179 203 259 300 208 364 334 316 349 340 384 388 433 443 446 446 Inventories, Other
195 179 203 259 300 208 364 334 316 349 340 384 388 433 443 446 446 Total Inventories
220 185 243 200 171 162 168 243 312 356 316 287 238 214 269 310 310 Other Current Assets
1,718 1,830 1,718 1,888 1,714 2,045 2,221 2,254 2,508 2,480 2,644 2,866 3,228 3,634 3,083 6,748 6,748 Total Current Assets
18.73 6.84 6.62 6.94 6.58 6.77 6.73 7.04 7.20 7.87 6.78 3.95 3.10 3.35 3.24 3.22 3.22 Land And Improvements
211 174 187 193 196 200 197 202 229 242 234 177 176 194 191 195 195 Buildings And Improvements
310 297 368 389 413 446 460 406 427 436 447 350 391 405 447 493 493 Machinery, Furniture, Equipment
577 513 561 589 615 652 664 672 712 737 746 601 651 682 719 916 916 Gross Property, Plant and Equipment
-370 -349 -379 -401 -403 -432 -430 -454 -482 -500 -509 -364 -384 -422 -463 -534 -534 Accumulated Depreciation
207 164 182 188 212 221 234 218 230 236 237 238 267 260 256 382 382 Property, Plant and Equipment
1,108 1,080 1,002 957 1,043 1,030 975 942 892 970 918 874 817 790 1,180 1,141 1,141 Intangible Assets
-- -- 470 471 475 476 475 475 475 594 593 593 571 573 486 495 495 Goodwill
208 226 195 203 200 601 663 717 695 715 719 744 780 606 744 585 585 Other Long Term Assets
3,241 3,301 3,097 3,237 3,169 3,897 4,093 4,131 4,325 4,402 4,518 4,721 5,091 5,290 5,263 8,856 8,856 Total Assets
168 152 160 186 184 173 133 135 140 199 213 241 320 348 334 344 344 Accounts Payable
-- -- -- -- -- -- -- 52.59 -- -- -- -- -- 57.16 75.97 66.72 66.72 Total Tax Payable
807 863 895 742 792 802 704 762 736 927 819 900 1,096 1,086 1,088 1,222 1,222 Accounts Payable & Accrued
Expense
342 47.45 10.58 146 7.59 14.11 14.57 180 224 437 252 165 522 155 9.74 0.50 0.50 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 100.00 -- -- DeferredTaxAndRevenue
-- -- -- 0.00 -- 0.00 0.00 -- -0.00 -- -- -- -- 10.95 76.92 35.04 35.04 Other Current Liabilities
1,149 911 906 888 800 816 719 942 960 1,363 1,072 1,065 1,618 1,252 1,274 1,257 1,257 Total Current Liabilities
303 496 495 710 710 1,132 1,398 1,401 1,396 960 1,546 1,547 1,199 1,694 1,695 4,046 4,046 Long-Term Debt
303 496 495 710 710 1,132 1,398 1,401 1,396 960 1,546 1,547 1,199 1,694 1,695 4,046 4,046 Long-Term Debt & Capital Lease
Obligation
0.39 0.32 0.33 0.62 0.52 0.72 0.87 1.12 1.08 0.83 1.23 1.03 0.92 1.01 0.97 1.35 1.35 Debt to Equity
150 171 158 255 268 354 361 370 461 397 435 445 412 515 539 557 557 Other Long-Term Liabilities
1,601 1,578 1,559 1,852 1,778 2,302 2,478 2,713 2,818 2,720 3,052 3,057 3,229 3,460 3,509 5,860 5,860 Total Liabilities
105 105 105 105 105 105 105 105 105 105 105 105 105 105 105 110 110 Common Stock
1,721 1,869 2,020 2,262 2,457 2,721 2,978 3,205 3,355 3,432 3,630 3,852 4,149 4,260 4,184 4,355 4,355 Retained Earnings
82.29 15.32 11.19 74.94 62.26 58.63 8.15 -35.94 -72.31 -34.14 -95.45 -146 -195 -239 -295 -184 -184 Accumulated other comprehensive
income (loss)
381 358 322 369 450 467 626 630 656 734 806 894 985 1,051 1,275 2,276 2,276 Additional Paid-In Capital
-649 -624 -921 -1,425 -1,683 -1,756 -2,102 -2,487 -2,536 -2,555 -2,980 -3,041 -3,182 -3,346 -3,515 -3,561 -3,561 Treasury Stock
1,640 1,723 1,538 1,385 1,391 1,595 1,615 1,418 1,507 1,682 1,466 1,664 1,863 1,830 1,754 2,996 2,996 Total Equity
0.51 0.52 0.50 0.43 0.44 0.41 0.40 0.34 0.35 0.38 0.32 0.35 0.37 0.35 0.33 0.34 0.34 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAS 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
196 212 230 333 307 375 398 385 336 284 413 447 533 397 220 520 520 Net Income
196 212 230 333 307 375 398 385 336 284 413 447 533 397 220 520 520 Net Income From Continuing
Operations
146 180 147 157 166 181 146 160 150 181 158 155 154 172 168 181 181 Depreciation, Depletion and
Amortization
75.59 39.34 -10.71 -74.94 -14.22 -423 71.17 -109 28.69 -86.62 -112 -228 -150 -50.38 180 -211 -211 Change In Receivables
-15.84 10.68 -17.62 -44.27 -69.87 105 -152 17.46 22.55 -37.51 -28.94 -99.35 -12.07 -25.30 -37.21 -4.63 -4.63 Change In Inventory
29.42 74.53 -35.17 79.25 74.73 35.70 15.90 -85.08 6.53 -5.02 30.76 83.12 7.42 24.45 -11.93 18.11 18.11 Change In Prepaid Assets
-89.74 33.21 -20.68 64.94 56.14 5.97 -130 75.59 -22.36 140 -0.96 169 246 101 134 47.73 47.73 Change In Payables And Accrued
Expense
-15.97 130 -123 0.92 60.07 -339 -205 -114 62.64 -72.24 -159 -46.07 64.64 44.00 230 -170 -170 Change In Working Capital
34.62 -24.03 24.97 37.58 24.99 19.14 25.17 -2.92 -16.09 -19.18 -9.76 -18.95 -0.66 112 -11.09 -14.96 -14.96 Change In DeferredTax
-- -- -- 29.40 35.22 29.91 33.39 12.46 19.43 21.27 36.15 53.88 61.62 56.03 27.89 28.04 28.05 Stock Based Compensation
-2.31 -2.01 42.27 44.37 0.00 0.00 -29.98 -45.18 -17.47 6.37 15.66 -19.69 -28.77 -56.20 -107 109 109 Cash Flow from Others
359 497 321 602 593 266 368 396 535 401 454 571 817 724 646 653 653 Cash Flow from Operations
-79.24 -70.58 -82.10 -91.53 -117 -104 -113 -99.40 -112 -112 -113 -142 -155 -135 -140 -134 -134 Purchase Of Property, Plant,
Equipment
-- 33.08 1.20 0.59 -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -18.00 -155 -371 -- -11.59 -- -111 -- -- -12.44 -- -155 -8.76 -- Purchase Of Business
-- -- -- -- -- -- -- -- -- -- 64.40 -- -- -- -- -- -- Sale Of Business
-- -- -941 -43.70 -42.00 -389 -- -11.59 -- -- -- -- -- -- -- -- -- Purchase Of Investment
-- -- 941 43.70 42.00 -- -- -- -- -- -- -- -- -- -- 79.99 -- Sale Of Investment
-5.73 -83.17 -2.70 -3.52 -0.02 368 8.41 14.96 5.92 4.99 48.50 38.38 28.95 3.40 9.40 1.45 72.68 Cash From Other Investing Activities
-84.97 -121 -83.60 -112 -272 -498 -104 -108 -106 -218 -0.49 -104 -138 -131 -286 -60.96 -60.96 Cash Flow from Investing
25.84 45.28 86.26 82.66 -- -- -- -- -- -- -- -- -- -- -- 975 -- Issuance of Stock
-- -48.03 -457 -584 -360 -88.11 -640 -423 -98.01 -103 -460 -87.22 -150 -151 -250 -61.39 -61.39 Repurchase of Stock
-64.57 -96.99 -36.47 345 -136 425 492 167 43.11 -215 381 -87.31 8.98 125 -142 2,346 2,346 Net Issuance of Debt
-37.09 -58.90 -75.28 -94.10 -107 -111 -133 -154 -225 -156 -217 -226 -249 -277 -309 -337 -337 Cash Flow for Dividends
-- -- 14.96 -100 146 10.93 110 34.01 60.98 134 64.42 34.95 14.48 -9.35 -35.43 -113 -113 Other Financing
-75.82 -159 -467 -434 -457 237 -171 -376 -219 -341 -231 -365 -375 -312 -737 2,811 2,811 Cash Flow from Financing
204 217 -227 59.06 -144 5.65 91.75 -86.11 208 -167 211 83.58 306 299 -399 3,398 3,398 Net Change in Cash
-79.24 -70.58 -82.10 -91.53 -117 -104 -113 -99.40 -112 -112 -113 -142 -155 -135 -140 -134 -134 Capital Expenditure
279 426 239 510 476 161 255 297 423 289 341 429 662 590 506 519 519 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAS 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
20.19 19.04 22.15 12.92 14.59 12.93 17.09 11.19 14.13 25.35 16.97 18.87 17.92 29.13 47.51 26.40 19.11 PE Ratio(TTM)
11.47 8.94 21.68 9.39 9.26 39.19 24.16 10.77 10.78 27.25 23.05 19.63 15.19 20.12 21.68 36.59 26.49 Price to Owner Earnings
(TTM)
2.10 2.08 2.85 2.68 2.92 2.76 4.01 2.89 3.07 4.29 4.67 5.05 5.20 6.18 5.84 4.53 3.40 Price to Book
6.46 5.59 8.17 8.69 11.68 7.79 10.13 8.63 7.52 10.13 12.50 10.63 9.26 10.88 17.83 7.32 5.49 Price to Tangible Book
11.84 8.68 20.14 8.56 9.51 109 27.53 11.82 11.08 26.07 20.70 19.66 14.79 20.23 20.26 26.32 19.05 Price-to-Free-Cash-Flow
Ratio
9.36 7.54 14.96 7.25 7.61 32.71 18.89 9.21 8.76 18.60 15.57 14.80 12.00 16.36 15.87 20.91 15.14 Price-to-Operating-Cash-
Flow Ratio
1.20 1.30 1.51 1.13 1.12 1.21 1.69 0.96 1.15 1.78 1.66 1.92 1.96 2.22 2.25 2.88 2.07 PS Ratio
6.01 1.10 41.02 1.57 1.07 0.71 1.01 1.03 1.79 6.98 10.61 4.47 2.47 2.50 11.10 -- -- PEG Ratio
1.12 1.03 1.32 0.99 1.03 1.21 1.79 1.18 1.32 1.94 1.81 2.06 2.02 2.22 2.35 2.87 2.11 EV-to-Revenue
7.64 6.51 7.97 5.81 6.40 6.35 9.74 6.85 7.77 12.41 9.80 10.67 10.72 10.96 20.35 15.43 11.33 EV-to-EBITDA
11.45 10.28 11.07 7.64 8.60 8.30 12.15 8.76 9.92 17.32 12.25 13.04 12.82 13.09 29.82 19.43 14.28 EV-to-EBIT
8.73 9.73 9.03 13.09 11.63 12.05 8.23 11.42 10.08 5.77 8.16 7.67 7.80 7.64 3.35 5.15 6.99 Return on Capital %
14.20 27.96 9.20 18.13 23.00 25.59 21.75 18.62 15.40 8.32 6.71 8.87 12.12 15.98 9.48 -0.57 0.88 Forward Rate of Return
27.84 27.93 36.69 28.92 30.70 29.15 31.46 17.92 17.86 25.51 23.31 25.82 26.40 29.22 26.15 32.25 23.34 Shiller PE Ratio
1.08 1.64 1.65 2.35 2.61 2.50 2.01 3.61 3.84 2.84 3.07 2.69 2.56 2.44 3.03 2.53 3.55 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,436 3,591 4,377 3,714 4,062 4,395 6,483 4,102 4,629 7,209 6,848 8,406 9,684 11,311 10,248 13,571 10,466 Market Cap
3,356 3,192 4,167 3,795 4,149 4,905 7,168 5,042 5,400 7,923 7,753 9,141 10,123 11,579 10,770 13,037 9,932 Enterprise Value
19.38 20.18 27.25 25.58 29.17 32.06 47.18 31.89 35.90 55.01 54.99 67.36 77.79 90.89 81.25 106 76.46 Month End Stock Price
-4.94 -3.57 -5.25 -7.42 -8.24 -12.15 -12.74 -16.10 -15.27 -15.55 -17.34 -16.67 -15.63 -15.10 -18.44 -9.96 -9.61 Net Cash (per share)
0.66 1.42 0.99 0.25 -0.46 -1.88 -1.87 -3.57 -2.40 -1.83 -3.28 -1.53 -0.01 1.40 -3.38 6.91 6.67 Net Current Asset Value
(per share)
-1.94 -0.86 -2.02 -3.15 -3.87 -5.71 -6.16 -8.77 -8.05 -7.96 -9.38 -7.81 -6.13 -4.89 -9.62 0.01 0.01 Net-Net Working Capital (per
share)
22.55 21.86 27.11 37.17 44.75 33.69 45.42 52.02 44.48 35.02 35.02 41.38 52.53 62.16 48.91 54.32 54.32 Projected FCF (per share)
17.90 18.14 21.49 27.26 30.51 29.85 33.33 41.26 38.64 39.81 44.96 51.85 60.92 66.76 62.16 68.42 68.42 Median PS (per share)
8.47 18.35 -- 16.28 27.20 45.19 46.86 30.95 20.09 12.22 -- 17.92 31.47 36.38 -- -- -- Peter Lynch Fair Value (per
share)
8.05 9.41 9.84 11.43 10.60 15.15 16.94 15.31 16.55 16.29 17.79 22.56 28.65 24.22 13.36 36.27 35.41 Graham Number (per share)
20.88 21.61 24.36 24.64 29.25 23.30 33.69 44.93 41.59 37.66 41.25 42.35 45.87 48.06 41.51 53.74 53.74 Earnings Power Value
(EPV)
3.43 3.74 4.29 4.21 4.57 4.05 4.48 3.87 3.86 4.26 4.30 4.68 4.82 5.17 4.37 3.66 3.34 Altman Z-Score
6.00 7.00 7.00 8.00 7.00 5.00 5.00 5.00 6.00 4.00 8.00 9.00 7.00 4.00 5.00 7.00 7.00 Piotroski F-Score
-2.39 -2.65 -2.53 -2.60 -2.71 -1.60 -2.55 -2.38 -2.73 -2.50 -2.58 -2.52 -2.67 -2.83 -2.88 -2.55 -2.55 Beneish M-Score
0.49 0.41 0.40 0.47 0.46 0.66 0.59 0.58 0.55 0.55 0.54 0.53 0.49 0.41 0.43 0.47 0.44 Scaled Net Operating
Assets
-2.39 -4.96 -0.23 -4.83 -0.46 15.57 3.27 2.35 -2.14 2.34 -0.84 -0.34 -2.51 -3.71 -2.64 -0.81 -0.81 Sloan Ratio (%)
1.50 2.01 1.90 2.13 2.14 2.51 3.09 2.39 2.61 1.82 2.47 2.69 1.99 2.90 2.42 5.37 5.37 Current Ratio
1.33 1.81 1.67 1.84 1.77 2.25 2.58 2.04 2.28 1.56 2.15 2.33 1.76 2.56 2.07 5.01 5.01 Quick Ratio
23.33 22.11 27.43 33.02 40.80 32.43 49.69 48.33 39.96 55.01 59.20 83.15 87.94 116 109 126 127 Highest Stock Price
17.00 18.56 17.49 25.58 21.73 21.32 30.55 31.65 31.89 35.35 48.08 51.91 66.96 77.79 78.02 77.90 75.63 Lowest Stock Price
-1.03 -0.36 9.74 9.60 4.09 1.56 -0.23 6.39 -0.24 -1.64 4.98 -0.22 0.25 0.03 -1.35 -1.88 -5.55 Shares Buyback Ratio (%)
-13.23 8.08 11.36 26.85 15.58 2.78 3.18 19.93 -5.93 -0.06 6.31 6.61 12.62 3.73 -12.00 1.78 1.58 YoY Rev. per Sh. Growth
(%)
12.94 13.54 18.35 52.71 1.52 24.00 10.48 2.92 -9.57 -14.90 47.47 11.56 21.57 -28.11 -44.23 133 134 YoY EPS Growth (%)
-21.58 17.25 16.30 30.14 10.43 19.93 -0.02 11.95 -6.91 -8.03 25.72 11.00 10.03 11.79 -49.85 63.65 63.17 YoY EBITDA Growth (%)
3.36 17.31 0.54 8.22 13.60 18.22 16.98 10.86 7.91 3.63 1.60 4.22 7.25 11.66 4.28 -4.95 -2.20 EBITDA 5-Y Growth (%)
177 178 167 156 141 139 139 130 130 130 128 125 125 125 126 128 133 Shares Outstanding (Basic
Average)
177 178 161 145 139 137 137 129 129 131 125 125 124 124 126 128 137 Shares Outstanding (EOP)
1.22 1.35 2.06 2.07 1.22 1.00 0.84 0.93 0.88 1.28 1.16 1.23 0.76 0.59 0.78 1.40 1.38 Beta
03/09/05 02/22/06 02/28/07 02/27/08 02/25/09 02/24/10 02/23/11 02/22/12 02/27/13 02/26/14 02/26/15 02/24/16 02/22/17 02/26/18 02/26/19 02/27/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAS 6/7
02/22/06 02/28/07 02/28/07 02/25/09 02/24/10 02/22/12 02/27/13 02/26/14 02/26/15 02/24/16 02/22/17 02/26/18 02/26/19 02/27/20 02/27/20 02/27/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HAS 7/7
Navient Corp (NAS:NAVI) 03/03/2020 2:00PM EST GuruFocus
Price: $ 10.60 -0.98(-8.46%) Market Cap: $ 2.05 B Enterprise Value: $92.25 B Stock PDF
Financial Strength : 2/10 Profitability & Growth : 3/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 4.12
Cash to Debt 0.01 Net-margin (%) 29.92
Forward P/E N/A
Equity to Asset 0.04 ROE (%) 17.74
F-Score: PE(NRI) 4.12
ROA (%) 0.60
9999 P/B 0.69
Revenue Growth (3Y)(%) -3.60
P/S 1.33
EPS Growth (3Y)(%) -16.70
PFCF 1.96
POCF 1.96
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Navient Corp is a financial services company that provides education loan management and business processing
services to education, healthcare, and government clients at the federal, state, and local levels. The company
Good Signs 2016 646 552 722 603 2,523 operates in Delaware, western New York, northern Pennsylvania, Indiana, Tennessee, Texas, and Virginia, among
2017 492 513 619 587 2,211 other locations. The company has three primary reportable business segments: Federal Education Loans, Consumer
Dividend Yield %: Close to 1- 2018 540 441 512 429 1,922
Lending and Business Processing. The company's fourth and other segment relates to financial results of the
company's holding company, including activities related to repurchases of debt, corporate liquidity portfolio, and
year high 2019 489 471 508 527 1,995 unallocated overhead and regulatory-related costs.... (Read More)
PE Ratio: Close to 3-year low 2020 Competitors: BKK:KTC-F, BKK:MTC, BOM:533398 , NYSE:GDOT, SHSE:600901 , XKRX:029780 , NAS:QFIN,
OSTO:INTRUM, HKSE:01606, NSE:SRTRANSFIN, TSX:EFN, BOM:533519, TSE:7164, NYSE:NNI,
PB Ratio: Close to 1-year low Quarterly Earnings per Share NSE:SUNDARMFIN, BOM:532955, NAS:LX, NAS:FCFS, NSE:BHARATFIN, BKK:SAWAD
PS Ratio: Close to 1-year low Mar Jun Sep Dec Full Year Insider Trades
2016 0.53 0.38 0.73 0.48 2.12
2017 0.30 0.39 0.64 -0.32 1.01
DCF 2018 0.47 0.31 0.43 0.28 1.49
GuruFocus does not 2019 0.52 0.64 0.63 0.78 2.57
calculate intrinsic value: DCF 2020
(Earnings Based) for Quarterly Dividends Per Share
companies with one star
predictability or not rated. But Mar Jun Sep Dec Full Year
you can go to each stock's 2016 0.16 0.16 0.16 0.16 0.64
DCF page to calculate 2017 0.16 0.16 0.16 0.16 0.64
yourself. 2018 0.16 0.16 0.16 0.16 0.64
2019 0.16 0.16 0.16 0.16 0.64
2020
Reverse DCF
Growth Rate
GuruFocus does not
calculate reverse DCF growth Annual Rates(per share) 10-Y 5-Y 12-M
rate for companies with one Revenue Growth (%) 0.00 -4.40 -7.40
star predictability or not rated.
EBITDA Growth (%) 0.00 0.00 0.00
But you can go to each
stock's DCF page to calculate Free Cash Flow Growth (%) 0.00 -1.40 4.80
yourself. Book Value Growth (%) 0.00 4.90 8.50
EPS Growth (%) 0.00 -16.50 43.30
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NAVI 1/6
Per Share Data
-- -- -- -- -- -- -- -- Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 7.82 9.49 8.41 8.12 7.84 7.87 7.28 8.57 8.57 Revenue per Share
-- -- -- -- -- -- -- -- 2.17 3.31 2.66 2.58 2.12 1.04 1.49 2.56 2.57 Earnings per Share (diluted)
-- -- -- -- -- -- -- -- 1.90 2.89 2.66 2.57 2.12 1.04 1.49 2.56 2.57 eps without NRI
-- -- -- -- -- -- -- -- 6.24 4.73 3.92 5.00 4.18 4.12 4.32 -- -- Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- 0.45 0.64 0.64 0.64 0.64 0.64 0.64 Dividends per Share
-- -- -- -- -- -- -- -- -- 12.00 10.44 11.20 12.71 13.13 14.25 15.52 15.52 Book Value per Share
-- -- -- -- -- -- -- -- -- 11.00 9.53 9.18 10.41 10.05 11.07 12.00 12.00 Tangible Book per Share
-- -- -- -- -- -- -- -- -- 356 347 365 394 417 401 420 420 Total Debt per Share
-- -- -- -- -- -- -- -- -- -- 21.61 11.45 16.43 13.32 8.81 -- 10.60 Month End Stock Price
Ratios
-- -- -- -- -- -- -- -- Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- 24.80 23.00 24.28 17.90 8.16 11.33 17.42 17.74 Return on Equity %
-- -- -- -- -- -- -- -- -- 0.89 0.74 0.70 0.53 0.25 0.36 0.60 0.60 Return on Assets %
-- -- -- -- -- -- -- -- -- -- -- -- -- 1.71 2.16 -- 2.22 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- -- 1.47 1.42 1.55 2.02 2.65 3.51 3.69 3.71 Effective Interest Rate on Debt %
-- -- -- -- -- -- -- -- 28.39 35.35 31.81 31.72 26.99 13.21 20.54 29.91 29.92 Net Margin %
-- -- -- -- -- -- -- -- 79.71 49.86 46.56 61.57 53.39 52.37 59.28 -- -- FCF Margin %
-- -- -- -- -- -- -- -- 9,999 26.69 33.24 32.59 31.01 31.78 28.12 27.04 27.04 Debt to Equity
-- -- -- -- -- -- -- -- -- 0.04 0.03 0.03 0.03 0.03 0.03 0.04 0.04 Total Equity to Total Asset
-- -- -- -- -- -- -- -- -- 0.94 0.95 0.95 0.95 0.96 0.95 0.95 0.95 Total Debt to Total Asset
-- -- -- -- -- -- -- -- -- 2.51 2.34 2.21 1.98 1.87 1.75 2.01 2.02 Gross Profit to Total Asset %
-- -- -- -- -- -- -- -- -- 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.02 Asset Turnover
-- -- -- -- -- -- -- -- -- -- 0.17 0.25 0.30 0.62 0.43 0.25 0.25 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NAVI 2/6
Income Statement
-- -- -- -- -- -- -- -- Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 3,307 4,011 3,574 3,102 2,523 2,211 1,923 1,996 1,995 Revenue
-- -- -- -- -- -- -- -- 3,307 4,011 3,574 3,102 2,523 2,211 1,923 1,996 1,995 Gross Profit
-- -- -- -- -- -- -- -- 457 504 479 467 500 519 507 -- 500 Selling, General, & Admin. Expense
-- -- -- -- -- -- -- -- 2,850 3,507 3,095 2,635 2,023 1,692 1,416 1,996 1,622 Other Operating Expense
-- -- -- -- -- -- -- -- 5,769 5,377 4,730 4,295 4,146 4,383 4,908 4,673 4,672 Interest Income
-- -- -- -- -- -- -- -- -2,561 -2,210 -2,063 -2,074 -2,441 -2,971 -3,668 -3,488 -3,488 Interest Expense
-- -- -- -- -- -- -- -- 3,208 3,167 2,667 2,221 1,705 1,412 1,240 1,185 1,184 Net Interest Income
-- -- -- -- -- -- -- -- 1,437 2,087 1,818 1,580 1,108 764 528 763 763 Other Income (Expense)
-- -- -- -- -- -- -- -- 2.00 1.00 -- -- -- -- -- -- -- Other Income (Minority Interest)
-- -- -- -- -- -- -- -- 1,437 2,087 1,818 1,580 1,108 764 528 763 763 Pre-Tax Income
-- -- -- -- -- -- -- -- -498 -776 -681 -597 -427 -472 -133 -166 -166 Tax Provision
-- -- -- -- -- -- -- -- 34.66 37.18 37.46 37.78 38.54 61.78 25.19 21.76 21.76 Tax Rate %
-- -- -- -- -- -- -- -- 939 1,311 1,137 983 681 292 395 597 597 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -- -2.00 106 -- 1.00 -- -- -- -- -- Net Income (Discontinued
Operations)
-- -- -- -- -- -- -- -- 939 1,418 1,137 984 681 292 395 597 597 Net Income
-- -- -- -- -- -- -- -- 28.39 35.35 31.81 31.72 26.99 13.21 20.54 29.91 29.92 Net Margin %
-- -- -- -- -- -- -- -- 20.00 20.00 6.00 -- -- -- -- -- -- Preferred dividends
-- -- -- -- -- -- -- -- 2.17 3.31 2.71 2.62 2.15 1.06 1.52 2.59 2.60 EPS (Basic)
-- -- -- -- -- -- -- -- 2.17 3.31 2.66 2.58 2.12 1.04 1.49 2.56 2.57 EPS (Diluted)
-- -- -- -- -- -- -- -- 423 423 425 382 322 281 264 233 221 Shares Outstanding (Diluted
Average)
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NAVI 3/6
Balance Sheet
-- -- -- -- -- -- -- -- Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- 5,190 1,443 1,594 1,253 1,518 1,286 1,233 1,233 Cash And Cash Equivalents
-- -- -- -- -- -- -- -- -- 109 6.00 5.00 3.00 2.00 -- -- -- Marketable Securities
-- -- -- -- -- -- -- -- -- 5,299 1,449 1,599 1,256 1,520 1,286 1,233 1,233 Cash, Cash Equivalents,
Marketable Securities
-- -- -- -- -- -- -- -- -- 3,042 2,379 1,966 1,758 2,073 2,094 -- -- Accounts Receivable
-- -- -- -- -- -- -- -- -- 9,640 5,217 4,510 3,739 3,973 3,651 1,233 1,233 Total Current Assets
-- -- -- -- -- -- -- -- -- 892 633 501 350 388 226 211 211 Investments And Advances
-- -- -- -- -- -- -- -- -- 237 152 162 160 156 136 -- -- Gross Property, Plant and
Equipment
-- -- -- -- -- -- -- -- -- 237 152 162 160 156 136 -- -- Property, Plant and Equipment
-- -- -- -- -- -- -- -- -- 424 369 705 670 810 786 757 757 Intangible Assets
-- -- -- -- -- -- -- -- -- 394 353 551 545 701 665 --
-- Goodwill
-- -- -- -- -- -- -- -- -- 148,350 139,981 128,168 116,217 109,664 99,377 92,702 92,702 Other Long Term Assets
-- -- -- -- -- -- -- -- -- 159,543 146,352 134,046 121,136 114,991 104,176 94,903 94,903 Total Assets
-- -- -- -- -- -- -- -- -- 13,795 2,663 2,570 2,334 4,771 5,422 8,483 8,483 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- -- 13,795 2,663 2,570 2,334 4,771 5,422 8,483 8,483 Total Current Liabilities
-- -- -- -- -- -- -- -- -- 136,648 136,866 124,833 112,368 105,012 93,519 81,715 81,715 Long-Term Debt
-- -- -- -- -- -- -- -- -- 136,648 136,866 124,833 112,368 105,012 93,519 81,715 81,715 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- -- -- -- 9,999 26.69 33.24 32.59 31.01 31.78 28.12 27.04 27.04 Debt to Equity
-- -- -- -- -- -- -- -- -- 5.00 -- 24.00 24.00 31.00 28.00 13.00 13.00 Minority Interest
-- -- -- -- -- -- -- -- -- 3,458 2,625 2,710 2,711 1,723 1,688 1,356 Other Long-Term Liabilities
1,356
-- -- -- -- -- -- -- -- -- 153,901 142,154 130,113 117,413 111,506 100,629 91,554 91,554 Total Liabilities
-- -- -- -- -- -- -- -- -- 109 4.00 4.00 4.00 4.00 4.00 4.00 4.00 Common Stock
-- -- -- -- -- -- -- -- -- 565 -- -- -- -- -- -- -- Preferred Stock
-- -- -- -- -- -- -- -- -- 2,584 1,724 2,414 2,890 3,004 3,218 3,664 3,664 Retained Earnings
-- -- -- -- -- -- -- -- -- 13.00 9.00 -51.00 6.00 61.00 113 -91.00 -91.00 Accumulated other comprehensive
income (loss)
-- -- -- -- -- -- -- -- -- 4,399 2,893 2,967 3,022 3,077 3,145 3,198 3,198 Additional Paid-In Capital
-- -- -- -- -- -- -- -- -- -2,033 -432 -1,425 -2,223 -2,692 -2,961 -3,439 -3,439 Treasury Stock
-- -- -- -- -- -- -- -- -- 5,637 4,198 3,909 3,699 3,454 3,519 3,336 3,336 Total Equity
-- -- -- -- -- -- -- -- -- 0.04 0.03 0.03 0.03 0.03 0.03 0.04 0.04 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NAVI 4/6
Cashflow Statement
-- -- -- -- -- -- -- -- Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- 939 1,311 1,137 984 681 292 395 597 596 Net Income
-- -- -- -- -- -- -- -- 939 1,311 1,137 984 681 292 395 597 596 Net Income From Continuing
Operations
-- -- -- -- -- -- -- -- 361 -68.00 -75.00 175 -26.00 -29.00 -125 -- 17.00 Change In Receivables
-- -- -- -- -- -- -- -- -41.00 -23.00 -27.00 -42.00 -92.00 11.00 58.00 -- -63.00 Change In Payables And Accrued
Expense
-- -- -- -- -- -- -- -- 805 436 629 1,106 504 462 285 -- 222 Change In Working Capital
-- -- -- -- -- -- -- -- 47.00 47.00 39.00 29.00 26.00 35.00 25.00 -- 23.00 Stock Based Compensation
-- -- -- -- -- -- -- -- 818 51.00 -150 -221 100.00 346 388 -- 543 Cash Flow from Others
-- -- -- -- -- -- -- -- 2,636 2,000 1,664 1,910 1,347 1,158 1,140 -- 1,316 Cash Flow from Operations
-- -- -- -- -- -- -- -- -- -- -- -342 -- -184 -- -- -- Purchase Of Business
-- -- -- -- -- -- -- -- -308 -448 -813 -187 -44.00 -1.00 -- -- -- Purchase Of Investment
-- -- -- -- -- -- -- -- 277 419 804 98.00 49.00 23.00 115 -- -- Sale Of Investment
-- -- -- -- -- -- -- -- 11,876 9,239 -1,644 11,117 11,277 7,280 10,245 -- -- Cash From Other Investing Activities
-- -- -- -- -- -- -- -- 11,845 9,210 -1,653 10,686 11,282 7,118 10,360 -- 8,567 Cash Flow from Investing
-- -- -- -- -- -- -- -- -900 -600 -600 -945 -755 -440 -220 -- -363 Repurchase of Stock
-- -- -- -- -- -- -- -- -1,427 261 -1,663 -11,015 -11,909 -7,693 -10,336 -- -9,896 Net Issuance of Debt
-- -- -- -- -- -- -- -- -257 -284 -255 -240 -201 -176 -166 -- -152 Cash Flow for Dividends
-- -- -- -- -- -- -- -- -10,791 -9,297 -1,240 -245 -238 -33.00 -162 -- -460 Other Financing
-- -- -- -- -- -- -- -- -13,375 -9,920 -3,758 -12,445 -13,103 -8,342 -10,884 -- -10,871 Cash Flow from Financing
-- -- -- -- -- -- -- -- 1,106 1,290 -3,747 151 -474 -66.00 616 -- -988 Net Change in Cash
-- -- -- -- -- -- -- -- 2,636 2,000 1,664 1,910 1,347 1,158 1,140 -- -- Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NAVI 5/6
Valuation Ratios
-- -- -- -- -- -- -- -- Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- -- 7.99 4.39 7.75 13.19 5.91 -- 4.12 PE Ratio(TTM)
-- -- -- -- -- -- -- -- -- -- 2.07 1.02 1.29 1.01 0.62 -- 0.69 Price to Book
-- -- -- -- -- -- -- -- -- -- 2.27 1.25 1.58 1.32 0.80 -- 0.88 Price to Tangible Book
-- -- -- -- -- -- -- -- -- -- 5.52 2.29 3.95 3.24 2.03 -- 1.96 Price-to-Free-Cash-Flow Ratio
-- -- -- -- -- -- -- -- -- -- 5.52 2.29 3.95 3.24 2.03 -- 1.96 Price-to-Operating-Cash-Flow Ratio
-- -- -- -- -- -- -- -- -- -- 2.56 1.41 2.09 1.69 1.21 -- 1.33 PS Ratio
-- -- -- -- -- -- -- -- -- -- 41.10 41.85 46.87 50.56 51.96 -- 46.37 EV-to-Revenue
-- -- -- -- -- -- -- -- -- -- 80.82 82.17 107 146 -- -- -- EV-to-EBITDA
-- -- -- -- -- -- -- -- -- -- 2.08 5.59 3.90 4.80 7.26 4.68 6.04 Dividend Yield %
Valuation and Quality
-- -- -- -- -- -- -- -- Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- -- 8,687 3,996 4,781 3,503 2,176 -- 2,049 Market Cap
-- -- -- -- -- -- -- -- -- -- 146,767 129,824 118,251 111,797 99,859 -- 92,251 Enterprise Value
-- -- -- -- -- -- -- -- -- -- 21.61 11.45 16.43 13.32 8.81 -- 10.60 Month End Stock Price
-- -- -- -- -- -- -- -- -- -352 -350 -368 -399 -418 -402 -420 -420 Net Cash (per share)
-- -- -- -- -- -- -- -- -- -347 -346 -364 -395 -412 -396 -420 -420 Net-Net Working Capital (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 68.40 -- -- Projected FCF (per share)
-- -- -- -- -- -- -- -- -- 26.74 23.88 23.06 22.28 15.34 19.26 26.29 26.34 Graham Number (per share)
-- -- -- -- -- -- -- -- 9,999 9,999 9,999 9,999 9,999 9,999 9,999 -- 9,999 Piotroski F-Score
-- -- -- -- -- -- -- -- -- -- 0.89 0.89 0.87 0.92 0.88 0.89 0.96 Scaled Net Operating Assets
-- -- -- -- -- -- -- -- -- -6.14 0.77 -8.66 -9.86 -6.94 -10.66 0.63 -7.00 Sloan Ratio (%)
-- -- -- -- -- -- -- -- -- -- 22.57 22.37 17.85 16.85 14.90 -- 15.67 Highest Stock Price
-- -- -- -- -- -- -- -- -- -- -- 10.96 8.41 11.62 8.43 -- 10.56 Lowest Stock Price
-- -- -- -- -- -- -- -- -- -- 4.91 13.18 16.62 9.62 6.08 12.96 12.96 Shares Buyback Ratio (%)
-- -- -- -- -- -- -- -- -- 21.28 -11.37 -3.44 -3.51 0.42 -7.42 17.61 17.96 YoY Rev. per Sh. Growth (%)
-- -- -- -- -- -- -- -- -- 52.12 -19.56 -3.01 -17.83 -50.94 43.27 71.81 72.48 YoY EPS Growth (%)
-- -- -- -- -- -- -- -- 423 423 417 376 316 275 260 231 216 Shares Outstanding (Basic Average)
-- -- -- -- -- -- -- -- 423 423 402 349 291 263 247 215 193 Shares Outstanding (EOP)
-- -- -- -- -- -- -- -- -- -- -- -- -- 2.39 2.09 1.82 1.84 Beta
-- -- -- -- -- -- -- -- 02/27/15 02/25/16 02/27/15 02/25/16 02/24/17 02/26/18 02/26/19 01/21/20 Filing Date
-- -- -- -- -- -- -- -- 02/27/15 02/25/16 02/24/17 02/26/18 02/26/19 02/26/19 02/26/19 01/21/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NAVI 6/6
Synopsys Inc (NAS:SNPS) 03/03/2020 2:00PM EST GuruFocus
Price: $ 140.26 -1.37(-0.97%) Market Cap: $ 21.07 B Enterprise Value: $21.23 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 44.81
Cash to Debt 0.82 Operating margin (%) 15.30
Forward P/E N/A
Equity to Asset 0.58 Net-margin (%) 14.31
PE(NRI) 44.81
Interest Coverage 59.28 ROE (%) 12.16
F-Score:
P/B 5.22
ROA (%) 7.48
5 P/S 6.43
Z-Score: ROC (Joel Greenblatt) (%) 106.37
5.51 PFCF 29.85
Revenue Growth (3Y)(%) 11.70
M-Score: POCF 22.68
-2.65 EBITDA Growth (3Y)(%) 12.10
EV-to-EBIT 41.90
WACC vs 8.63% EPS Growth (3Y)(%) 25.90
ROIC 13.52% PEG 4.71
WACC
ROIC Shiller P/E 74.84
Current Ratio 0.95
Quick Ratio 0.88
Days Inventory 72.58
Days Sales Outstanding 86.43
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Synopsys Inc was founded in December 1986 (it was called Optimal Solutions until 1987) and is a market leader in
Revenue per Share: Growth
electronic design automation software. EDA is used to automate the design and verification of integrated circuits or
slow down 2016 569 605 615 634 2,423 larger chip systems. The firm provides an end-to-end workflow of EDA products. In addition, the firm offers a broad set
2017 653 680 695 697 2,725 of design intellectual property and leading software integrity tools that help customers develop secure, quality code.
Long-Term Debt: Issuing new Historically, the firm's tools have been relied upon by semiconductor firms, but there has been a shift toward other
2018 769 777 780 795 3,121 nontraditional "systems" users (nonsemiconductor firms interested in chip design) given the development of the
debt
2019 820 836 853 851 3,361 Internet of Things, artificial intelligence, autonomous vehicles, and cloud computing.... (Read More)
Tax Rate: Tax Rate is too low 2020 834 Competitors: NYSE:TSS, NYSE:PANW, NAS:VRSN, NAS:FTNT, NAS:SPLK, NYSE:FLT, SHSE:601360 ,
XAMS:ADYEN, NAS:AKAM, NAS:OKTA, XPAR:WLN, NYSE:GDDY, NAS:CRWD, NAS:NLOK, NYSE:PAGS,
Insider Sell: Insider Selling Quarterly Earnings per Share NYSE:BKI, MIL:NEXI, NAS:ULTI, NYSE:WEX, NAS:DOX
Mar Jun Sep Dec Full Year Insider Trades
Good Signs 2016 0.39 0.45 0.42 0.47 1.73
2017 0.56 0.34 0.75 -0.80 0.85
Operating Margin %: 2018 -0.02 0.67 0.52 1.66 2.83
Expansion 2019 1.01 0.77 0.65 1.04 3.47
2020 0.67
DCF Quarterly Dividends Per Share
EPS without NRI: $3.13 Mar Jun Sep Dec Full Year
Growth Rate in the next 10 2016 0.00 0.00 0.00 0.00 0.00
years: 6.50% 2017 0.00 0.00 0.00 0.00 0.00
Terminal Growth Rate for 10 2018 0.00 0.00 0.00 0.00 0.00
years: 4% 2019 0.00 0.00 0.00 0.00 0.00
Fair Value: $36.85 2020 0.00
Growth Rate
Reverse DCF
Annual Rates(per share) 10-Y 5-Y 12-M
Expected eps Growth Rate:
Revenue Growth (%) 9.30 11.40 5.40
26.87%
EBITDA Growth (%) 8.80 9.60 12.30
Free Cash Flow Growth (%) 6.40 3.20 204.30
Book Value Growth (%) 7.20 6.20 6.10
EPS Growth (%) 6.50 15.60 -18.90
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNPS 1/7
Per Share Data
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
6.91 6.84 7.57 8.10 9.05 9.33 9.09 10.21 11.69 12.53 13.05 14.19 15.66 17.59 20.35 21.80 21.84 Revenue per Share
2.44 0.79 1.00 1.51 2.14 2.14 1.88 2.31 2.40 2.97 2.96 3.14 3.49 3.74 3.84 4.92 4.59 EBITDA per Share
1.22 -0.37 0.21 0.81 1.48 1.44 1.21 1.46 1.35 1.77 1.74 1.80 2.15 2.52 2.47 3.61 3.28 EBIT per Share
0.47 -0.12 0.17 0.87 1.29 1.15 1.56 1.47 1.21 1.58 1.64 1.43 1.73 0.88 2.82 3.45 3.13 Earnings per Share (diluted)
0.47 -0.12 0.17 0.87 1.29 1.15 1.56 1.47 1.21 1.58 1.64 1.43 1.73 0.88 2.82 3.45 3.13 eps without NRI
1.67 1.40 0.68 2.12 1.48 0.86 1.59 2.32 2.38 2.41 2.63 2.12 2.68 2.87 1.29 3.06 3.75 Owner Earnings per Share (TTM)
1.39 1.54 1.07 2.58 1.96 1.35 1.97 2.53 2.85 2.73 2.82 2.56 3.33 3.61 2.10 3.88 4.70 Free Cashflow per Share
8.58 8.30 8.28 9.81 10.77 12.55 14.15 14.66 16.58 18.09 19.60 20.20 21.10 21.77 23.31 27.16 26.85 Book Value per Share
3.21 2.33 2.29 4.04 3.62 5.54 3.94 4.30 0.39 3.09 2.79 1.93 2.71 2.09 -0.16 4.21 4.11 Tangible Book per Share
-- -- -- -- -- -- -- -- 0.90 0.68 0.48 1.32 1.35 0.96 3.14 0.92 5.56 Total Debt per Share
16.24 18.95 22.77 28.26 18.28 22.02 25.58 26.81 32.20 36.42 40.98 49.98 59.31 86.52 89.53 136 140 Month End Stock Price
Ratios
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
5.51 -1.38 2.08 10.04 12.82 9.94 12.02 10.54 7.93 9.37 8.87 7.30 8.43 4.22 12.81 14.08 12.16 Return on Equity %
3.38 -0.81 1.15 5.47 7.09 5.90 7.62 6.65 4.85 5.83 5.67 4.60 5.19 2.57 7.49 8.48 7.48 Return on Assets %
107 -31.09 19.45 88.98 158 144 125 142 116 143 123 111 128 149 132 151 106 Return on Capital %
22.11 -18.16 2.82 18.31 36.95 24.17 23.91 19.04 11.21 11.51 11.79 10.00 11.37 5.88 15.84 16.46 13.52 Return on Invested Capital %
15.07 21.69 21.77 17.68 9.87 7.48 6.35 5.27 5.19 6.03 6.60 7.43 8.11 9.07 11.74 9.16 8.63 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- 2.95 1.41 2.11 2.01 1.84 4.19 5.09 3.84 2.21 Effective Interest Rate on Debt %
85.85 74.33 79.60 80.68 80.64 79.88 79.64 77.83 77.64 76.89 77.79 76.86 77.59 75.99 76.42 77.60 77.69 Gross Margin %
17.72 -5.46 2.76 10.00 16.39 15.47 13.33 13.86 10.82 12.56 12.09 12.56 13.50 14.10 11.96 16.88 15.30 Operating Margin %
6.81 -1.73 2.26 10.76 14.21 12.33 17.17 14.42 10.39 12.63 12.59 10.08 11.01 5.01 13.86 15.84 14.31 Net Margin %
20.06 22.45 14.10 31.85 21.64 14.49 21.65 24.75 24.41 21.79 21.58 18.04 21.28 20.51 10.33 17.80 21.51 FCF Margin %
-- -- -- -- -- -- -- -- 0.05 0.04 0.03 0.07 0.06 0.04 0.14 0.03 0.21 Debt to Equity
0.61 0.57 0.54 0.55 0.56 0.63 0.64 0.62 0.60 0.64 0.64 0.62 0.61 0.61 0.57 0.64 0.58 Total Equity to Total Asset
-- -- -- -- -- -- -- -- 0.03 0.02 0.02 0.04 0.04 0.03 0.08 0.02 0.12 Total Debt to Total Asset
42.62 34.90 40.64 40.97 40.23 38.24 35.33 35.92 36.28 35.47 35.05 35.09 36.55 38.93 41.33 41.55 40.58 Gross Profit to Total Asset %
0.50 0.47 0.51 0.51 0.50 0.48 0.44 0.46 0.47 0.46 0.45 0.46 0.47 0.51 0.54 0.54 0.52 Asset Turnover
44.20 36.86 40.84 37.30 40.23 34.09 47.88 48.28 60.83 47.62 57.96 62.79 66.12 60.43 64.81 60.16 86.43 Days Sales Outstanding
435 332 24.50 18.09 32.66 13.52 21.21 7.46 27.75 6.90 22.49 6.98 9.24 11.13 42.18 9.61 12.88 Days Accounts Payable
-- -- -- -- -- -- -- -- -- -- -- -- -- 17.26 45.70 63.97 72.58 Days Inventory
-391 -295 16.34 19.21 7.57 20.57 26.67 40.82 33.08 40.72 35.47 55.81 56.88 66.56 68.33 115 146 Cash Conversion Cycle
-- -- -- -- -- -- -- -- -- -- -- -- -- 21.14 7.99 5.71 5.03 Inventory Turnover
0.14 0.26 0.20 0.19 0.19 0.20 0.20 0.22 0.22 0.23 0.22 0.23 0.22 0.24 0.24 0.22 0.22 COGS to Revenue
-- -- -- -- -- -- -- -- -- -- -- -- -- 0.01 0.03 0.04 0.04 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNPS 2/7
Income Statement
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
1,092 992 1,096 1,212 1,337 1,360 1,381 1,536 1,756 1,962 2,057 2,242 2,423 2,725 3,121 3,361 3,375 Revenue
154 255 224 234 259 274 281 340 393 454 457 519 543 654 736 753 753 Cost of Goods Sold
938 737 872 978 1,078 1,086 1,100 1,195 1,363 1,509 1,601 1,723 1,880 2,071 2,385 2,608 2,622 Gross Profit
85.85 74.33 79.60 80.68 80.64 79.88 79.64 77.83 77.64 76.89 77.79 76.86 77.59 75.99 76.42 77.60 77.69 Gross Margin %
424 439 443 451 439 443 455 476 573 570 608 640 668 746 886 862 886 Selling, General, & Admin. Expense
285 321 371 379 400 420 449 492 582 669 719 776 857 909 1,085 1,137 1,180 Research & Development
34.89 31.87 27.94 26.61 20.77 12.81 11.58 14.60 18.60 23.20 24.81 26.00 27.51 31.61 41.63 41.29 39.87 Other Operating Expense
194 -54.15 30.23 121 219 210 184 213 190 246 249 282 327 384 373 567 516 Operating Income
17.72 -5.46 2.76 10.00 16.39 15.47 13.33 13.86 10.82 12.56 12.09 12.56 13.50 14.10 11.96 16.88 15.30 Operating Margin %
-- -- -- -- -- -- 5.40 2.12 1.57 1.89 1.30 2.79 3.72 7.24 5.32 6.86 6.77 Interest Income
-- -- -- -- -- -- -- -0.10 -1.99 -1.70 -1.90 -2.81 -3.77 -7.30 -15.61 -11.66 -8.71 Interest Expense
-- -- -- -- -- -- 5.40 2.02 -0.42 0.20 -0.59 -0.03 -0.06 -0.06 -10.28 -4.80 -1.94 Net Interest Income
-102 46.36 13.49 44.56 -0.16 22.62 9.15 4.25 11.54 28.98 24.02 0.09 2.58 -0.99 0.66 -17.11 -16.35 Other Income (Expense)
91.59 -7.79 43.72 166 219 233 199 219 201 276 272 282 330 383 364 546 498 Pre-Tax Income
-17.26 -9.33 -18.98 -35.31 -28.98 -65.39 38.41 2.25 -18.73 -27.87 -13.02 -55.68 -62.72 -247 68.98 -13.14 -15.11 Tax Provision
18.84 -120 43.41 21.30 13.23 28.06 -19.33 -1.03 9.31 10.11 4.78 19.77 19.03 64.35 -18.97 2.41 3.03 Tax Rate %
74.34 -17.11 24.74 130 190 168 237 221 182 248 259 226 267 137 433 532 483 Net Income (Continuing Operations)
74.34 -17.11 24.74 130 190 168 237 221 182 248 259 226 267 137 433 532 483 Net Income
6.81 -1.73 2.26 10.76 14.21 12.33 17.17 14.42 10.39 12.63 12.59 10.08 11.01 5.01 13.86 15.84 14.31 Net Margin %
0.49 -0.12 0.17 0.91 1.33 1.17 1.60 1.51 1.24 1.62 1.67 1.46 1.76 0.91 2.90 3.55 3.22 EPS (Basic)
0.47 -0.12 0.17 0.87 1.29 1.15 1.56 1.47 1.21 1.58 1.64 1.43 1.73 0.88 2.82 3.45 3.13 EPS (Diluted)
158 145 145 150 148 146 152 150 150 157 158 158 155 155 153 154 155 Shares Outstanding (Diluted
Average)
193 169 114 105 97.14 101 101 129 157 187 193 212 207 189 209 202 202 Depreciation, Depletion and
Amortization
386 115 145 227 316 312 285 348 360 465 467 496 540 580 588 759 709 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNPS 3/7
Balance Sheet
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
347 404 331 579 578 702 775 855 700 1,022 986 836 977 1,048 723 729 700 Cash And Cash Equivalents
232 182 242 405 374 467 163 149 -- -- -- 129 141 -- -- -- -- Marketable Securities
579 587 573 984 951 1,168 939 1,004 700 1,022 986 965 1,117 1,048 723 729 700 Cash, Cash Equivalents, Marketable
Securities
132 100 123 124 147 127 181 203 293 256 327 386 439 451 554 554 799 Accounts Receivable
-- -- -- -- -- -- -- -- -- -- -- -- -- 61.88 122 142 148 Inventories, Other
-- -- -- -- -- -- -- -- -- -- -- -- -- 61.88 122 142 148 Total Inventories
155 212 157 177 174 117 110 105 130 151 166 71.45 105 72.95 67.53 290 282 Other Current Assets
913 947 894 1,328 1,322 1,464 1,248 1,338 1,141 1,448 1,505 1,469 1,717 1,683 1,544 1,739 1,951 Total Current Assets
42.75 42.75 20.41 13.41 20.41 21.98 20.41 20.41 20.41 20.41 20.41 20.41 20.41 20.41 18.85 18.85 -- Land And Improvements
92.45 93.04 109 112 53.77 59.84 55.45 53.93 70.24 69.35 68.87 67.94 68.19 68.88 68.52 68.71 -- Buildings And Improvements
366 381 393 318 331 252 283 313 359 404 461 487 538 595 665 751 -- Machinery, Furniture, Equipment
501 517 523 443 477 406 446 473 541 590 687 717 763 838 936 1,113 918 Gross Property, Plant and Equipment
-323 -347 -382 -311 -332 -260 -297 -313 -350 -392 -438 -454 -506 -572 -627 -683 -- Accumulated Depreciation
178 170 141 132 145 147 149 160 191 198 249 263 257 266 309 430 918 Property, Plant and Equipment
792 871 842 846 1,014 1,030 1,515 1,485 2,443 2,311 2,621 2,835 2,785 2,961 3,504 3,451 3,514 Intangible Assets
-- -- 736 767 900 933 1,266 1,289 1,977 1,976 2,256 2,471 2,518 2,707 3,143 3,171 3,232 Goodwill
209 144 281 312 261 299 375 386 372 402 401 479 481 487 789 786 820 Other Long Term Assets
2,092 2,133 2,158 2,617 2,742 2,939 3,287 3,369 4,148 4,359 4,775 5,046 5,240 5,396 6,146 6,405 7,203 Total Assets
184 231 15.01 11.61 23.17 10.14 16.33 6.96 29.86 8.58 28.15 9.92 13.75 19.95 85.05 19.82 26.58 Accounts Payable
-- -- -- -- 14.50 5.51 8.35 4.59 4.68 7.17 31.40 19.57 22.69 39.81 27.46 15.90 18.81 Total Tax Payable
372 401 425 454 304 251 105 68.07 388 365 429 405 424 540 606 522 374 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- 30.00 30.00 30.00 205 205 9.92 344 17.61 277 Current Portion of Long-Term Debt
369 416 446 577 605 554 601 704 835 828 928 968 1,086 1,065 1,153 1,212 1,405 Current Deferred Revenue
369 416 446 577 605 554 601 704 835 828 928 968 1,086 1,065 1,153 1,212 1,405 DeferredTaxAndRevenue
-- -- -- -- -- 9.51 216 239 -0.00 0.00 -- -- -- -- -- -0.00 -0.00 Other Current Liabilities
741 817 871 1,031 909 815 922 1,010 1,253 1,223 1,387 1,578 1,715 1,614 2,102 1,752 2,056 Total Current Liabilities
-- -- -- -- -- -- -- -- 105 75.00 45.00 -- -- 134 126 120 123 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 459 Capital Lease Obligation
-- -- -- -- -- -- -- -- 105 75.00 45.00 -- -- 134 126 120 582 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- -- -- -- 0.05 0.04 0.03 0.07 0.06 0.04 0.14 0.03 0.21 Debt to Equity
-- -- -- -- 75.41 104 34.10 56.21 168 181 223 252 243 281 329 340 362 NonCurrent Deferred Liabilities
-- -- -- -- -- -- -- -- 42.29 -- -- -- -- 4.10 5.86 5.86 5.86 Minority Interest
85.98 106 124 150 230 176 230 201 78.22 91.38 64.42 81.32 87.23 87.72 104 104 48.44 Other Long-Term Liabilities
827 923 995 1,181 1,214 1,095 1,186 1,268 1,604 1,571 1,719 1,912 2,045 2,117 2,661 2,316 3,048 Total Liabilities
1.47 1.46 1.41 1.46 1.42 1.47 1.49 1.43 1.51 1.54 1.56 1.55 1.52 1.51 1.49 1.50 1.50 Common Stock
202 163 171 264 434 575 771 958 1,099 1,325 1,552 1,726 1,948 2,144 2,544 3,164 3,268 Retained Earnings
-3.38 -17.48 -12.48 3.91 -35.28 -3.83 -15.77 -20.95 -15.46 -28.70 -62.09 -105 -105 -65.98 -113 -92.45 -83.31 Accumulated other comprehensive
income (loss)
1,241 1,263 1,316 1,402 1,471 1,500 1,541 1,521 1,585 1,597 1,615 1,610 1,645 1,622 1,645 1,635 1,627 Additional Paid-In Capital
-176 -199 -313 -235 -343 -229 -198 -358 -168 -107 -49.50 -98.38 -294 -426 -598 -626 -664 Treasury Stock
1,265 1,211 1,163 1,436 1,528 1,844 2,100 2,101 2,502 2,788 3,056 3,134 3,195 3,276 3,479 4,083 4,149 Total Equity
0.61 0.57 0.54 0.55 0.56 0.63 0.64 0.62 0.60 0.64 0.64 0.62 0.61 0.61 0.57 0.64 0.58 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNPS 4/7
Cashflow Statement
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
74.34 -17.11 24.74 130 190 168 237 221 182 248 259 226 267 137 433 532 483 Net Income
74.34 -17.11 24.74 130 190 168 237 221 182 248 259 226 267 137 433 532 483 Net Income From Continuing
Operations
193 169 114 105 97.14 101 101 129 157 187 193 212 207 189 209 202 202 Depreciation, Depletion and
Amortization
70.51 56.84 -19.15 -0.12 -8.57 22.83 -16.20 -18.97 -53.40 37.59 -65.02 -56.53 -43.27 2.30 -95.79 -8.58 -45.89 Change In Receivables
-- -- -- -- -- -- -- -- -- -- -- -- -32.07 -20.14 -66.51 -19.24 -8.72 Change In Inventory
15.28 11.27 1.27 -15.61 -22.34 11.42 4.64 -13.45 15.20 -12.06 1.84 -23.11 -5.57 -10.95 -12.65 -49.78 -31.06 Change In Prepaid Assets
-26.91 19.04 -15.42 -0.59 -3.13 -49.35 -83.49 -7.41 42.96 -1.14 40.65 27.57 18.98 138 49.04 -19.28 67.01 Change In Payables And Accrued
Expense
27.73 123 26.10 129 -13.90 -124 -91.15 10.59 59.01 -4.57 44.91 -67.07 28.30 71.67 -150 -76.28 97.14 Change In Working Capital
-50.86 -11.22 -25.18 -0.97 -12.25 25.94 38.36 22.28 12.85 -0.68 -17.10 36.88 -14.04 123 -210 -82.62 -94.10 Change In DeferredTax
-- -- -- -- 65.47 56.93 59.99 56.41 71.41 67.51 79.44 86.40 97.58 108 140 155 168 Stock Based Compensation
20.05 5.29 65.74 69.58 4.65 11.11 -4.90 0.13 3.11 -0.77 -8.25 1.19 0.93 2.16 3.28 70.37 97.90 Cash Flow from Others
264 269 206 433 331 239 341 440 486 497 551 495 587 632 424 801 954 Cash Flow from Operations
-45.01 -46.52 -51.41 -47.29 -38.87 -39.20 -39.22 -57.35 -54.19 -65.46 -103 -86.97 -66.91 -70.33 -98.98 -198 -224 Purchase Of Property, Plant,
Equipment
-- -- -- 26.30 -- -- -- -- -- 2.00 -- -- -- -- 1.66 -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -185 -53.36 -501 -41.02 -970 -- -395 -340 -60.06 -259 -653 -36.61 -75.39 Purchase Of Business
-1,057 -373 -367 -452 -573 -387 -244 -127 -18.18 -- -- -239 -170 -155 -3.56 -3.25 -2.50 Purchase Of Investment
993 423 306 285 598 291 548 140 167 0.99 7.77 109 158 296 12.94 6.36 6.36 Sale Of Investment
-- -- -- -- -2.87 -2.85 -2.85 -2.89 -3.30 -- -- -- -- -- -- -- -- Net Intangibles Purchase And Sale
-62.88 -174 -41.14 -57.47 -0.00 0.00 0.00 -0.00 0.00 -3.61 -7.13 -2.78 -4.13 -1.13 -2.95 -4.26 -44.44 Cash From Other Investing Activities
-172 -171 -154 -246 -201 -192 -239 -88.82 -879 -66.08 -497 -560 -143 -189 -744 -236 -340 Cash Flow from Investing
157 48.62 69.57 208 79.18 71.92 145 162 176 132 104 110 125 126 124 156 165 Issuance of Stock
-423 -88.39 -200 -152 -220 -- -185 -402 -40.00 -145 -120 -260 -400 -380 -400 -329 -380 Repurchase of Stock
-- -- -- -- -2.97 -0.93 -3.69 -4.63 114 -30.71 -30.97 130 -- -60.63 325 -331 -211 Net Issuance of Debt
-- -- -- -- -- -1.53 -- -33.34 -6.25 -54.17 -26.70 -41.41 -32.22 -58.83 -44.01 -57.91 -80.79 Other Financing
-267 -39.77 -130 56.86 -144 69.45 -43.06 -278 243 -97.99 -73.69 -62.07 -307 -373 5.14 -562 -506 Cash Flow from Financing
-178 57.73 -73.68 249 -1.69 124 73.79 79.67 -155 322 -36.68 -150 140 69.65 -325 5.53 108 Net Change in Cash
-45.01 -46.52 -51.41 -47.29 -41.74 -42.05 -42.08 -60.23 -57.49 -69.07 -107 -90.65 -71.04 -73.55 -102 -202 -228 Capital Expenditure
219 223 154 386 289 197 299 380 429 428 444 405 516 559 322 598 726 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNPS 5/7
Valuation Ratios
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
35.30 -- 134 32.11 14.17 19.15 16.40 18.36 26.61 23.05 24.99 35.20 34.28 102 31.64 39.12 44.81 PE Ratio(TTM)
9.73 13.56 33.73 13.32 12.34 25.52 16.05 11.58 13.52 15.11 15.59 23.58 22.11 30.16 69.24 44.42 37.35 Price to Owner Earnings
(TTM)
1.89 2.28 2.75 2.88 1.70 1.75 1.81 1.83 1.94 2.01 2.09 2.47 2.81 3.97 3.84 5.00 5.22 Price to Book
5.06 8.15 9.96 7.00 5.05 3.97 6.50 6.24 83.20 11.77 14.68 25.92 21.89 41.36 -- 32.27 34.13 Price to Tangible Book
11.79 12.42 21.08 10.98 9.27 16.58 13.02 10.44 11.37 13.45 14.59 19.60 17.74 23.97 42.78 35.17 29.85 Price-to-Free-Cash-Flow
Ratio
9.77 10.26 15.87 9.78 8.10 13.63 11.41 9.03 10.02 11.56 11.76 16.00 15.60 21.18 32.40 26.25 22.68 Price-to-Operating-Cash-
Flow Ratio
2.36 2.78 3.01 3.49 2.02 2.36 2.82 2.62 2.75 2.90 3.14 3.52 3.79 4.91 4.37 6.22 6.43 PS Ratio
1.55 -- 14.61 -- -- 1.89 0.82 1.59 4.87 3.78 2.32 3.18 4.58 13.43 4.08 4.27 4.71 PEG Ratio
1.66 2.20 2.40 2.60 1.23 1.52 2.07 1.85 2.47 2.39 2.66 3.12 3.33 4.45 4.20 5.90 6.29 EV-to-Revenue
4.70 12.49 17.80 13.91 5.20 6.63 10.02 8.16 12.05 10.11 11.74 14.10 14.94 20.90 22.29 26.12 29.96 EV-to-EBITDA
9.38 392 79.27 26.00 7.50 9.82 15.53 12.95 21.35 16.94 20.00 24.59 24.21 31.04 34.59 35.58 41.90 EV-to-EBIT
10.66 0.26 1.26 3.85 13.33 10.18 6.44 7.72 4.68 5.90 5.00 4.07 4.13 3.22 2.89 2.81 2.38 Return on Capital %
25.57 24.74 13.82 -6.07 -0.46 17.59 26.90 19.39 12.41 12.43 16.93 16.42 12.19 11.00 11.05 11.45 11.27 Forward Rate of Return
36.71 46.16 53.71 63.52 36.30 46.21 46.64 40.72 32.90 35.33 35.45 38.05 39.73 57.53 53.74 71.04 74.84 Shiller PE Ratio
Valuation and Quality
Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 TTM Fiscal Period
2,393 2,765 3,201 4,136 2,595 3,236 3,798 3,842 4,859 5,615 6,391 7,755 8,983 13,017 13,364 20,407 21,071 Market Cap
1,814 2,178 2,628 3,152 1,644 2,067 2,860 2,838 4,336 4,697 5,481 6,995 8,070 12,116 13,116 19,822 21,235 Enterprise Value
16.24 18.95 22.77 28.26 18.28 22.02 25.58 26.81 32.20 36.42 40.98 49.98 59.31 86.52 89.53 136 140 Month End Stock Price
-1.68 -2.30 -3.00 -1.34 -1.85 0.50 -1.67 -1.84 -6.27 -3.56 -4.70 -6.10 -6.13 -7.13 -13.02 -10.60 -15.23 Net Cash (per share)
0.58 0.17 -0.71 1.00 0.76 2.51 0.41 0.49 -3.35 -0.80 -1.38 -2.85 -2.17 -2.91 -7.52 -3.88 -7.14 Net Current Asset Value
(per share)
-1.01 -1.79 -2.35 -0.71 -1.07 1.15 -0.75 -0.78 -4.81 -2.31 -3.13 -4.24 -3.95 -4.67 -9.83 -7.37 -10.88 Net-Net Working Capital (per
share)
15.53 16.28 17.21 19.10 25.66 28.03 32.64 35.57 37.09 38.44 43.53 48.46 50.80 53.27 54.23 63.15 63.26 Projected FCF (per share)
29.13 27.17 27.11 28.94 31.54 30.11 27.79 29.67 33.00 35.33 37.14 41.72 46.30 52.12 62.50 70.66 71.88 Median PS (per share)
10.48 -3.00 1.56 -- -- 11.63 31.11 16.89 6.61 9.64 17.70 15.73 12.96 6.44 21.93 31.82 28.89 Peter Lynch Fair Value (per
share)
5.83 -- 2.96 8.89 10.25 11.98 11.76 11.92 3.25 10.49 10.15 7.88 10.27 6.44 -- 18.07 17.02 Graham Number (per share)
11.49 3.36 3.55 5.59 5.33 5.54 19.18 24.57 22.42 24.72 25.62 24.68 27.35 27.37 29.88 35.50 31.01 Earnings Power Value
(EPV)
2.64 2.43 2.63 3.05 2.44 3.04 2.99 3.00 2.74 3.29 3.34 3.52 3.83 5.00 4.20 6.79 5.51 Altman Z-Score
6.00 4.00 7.00 8.00 7.00 5.00 5.00 5.00 4.00 6.00 5.00 5.00 9.00 5.00 7.00 7.00 5.00 Piotroski F-Score
-3.17 -3.44 -2.64 -3.08 -2.45 -2.71 -2.15 -2.71 -2.42 -2.86 -2.54 -2.56 -2.68 -2.84 -2.28 -2.58 -2.65 Beneish M-Score
0.30 0.30 0.28 0.21 0.22 0.25 0.40 0.33 0.59 0.45 0.49 0.50 0.45 0.45 0.60 0.57 0.67 Scaled Net Operating
Assets
-0.84 -5.38 -1.27 -2.19 2.19 4.10 4.10 -3.86 13.87 -4.19 4.30 5.76 -3.38 -5.68 12.23 -0.50 -1.83 Sloan Ratio (%)
1.23 1.16 1.03 1.29 1.45 1.80 1.35 1.32 0.91 1.18 1.09 0.93 1.00 1.04 0.73 0.99 0.95 Current Ratio
1.23 1.16 1.03 1.29 1.45 1.80 1.35 1.32 0.91 1.18 1.09 0.93 1.00 1.00 0.68 0.91 0.88 Quick Ratio
37.36 19.55 22.96 28.69 28.02 23.45 25.58 29.16 34.10 38.40 41.75 52.30 60.56 87.19 103 146 167 Highest Stock Price
14.65 16.44 17.18 22.12 16.17 14.59 20.46 21.49 26.10 31.27 35.72 41.16 40.53 56.84 80.77 79.24 101 Lowest Stock Price
5.43 1.00 3.65 -4.12 3.00 -3.50 -1.04 3.48 -5.30 -2.17 -1.16 0.52 2.39 0.67 0.78 -0.71 -3.50 Shares Buyback Ratio (%)
-3.48 -0.91 10.64 6.97 11.81 2.99 -2.53 12.37 14.41 7.23 4.12 8.73 10.38 12.37 15.65 7.12 5.43 YoY Rev. per Sh. Growth
(%)
-48.35 -126 242 412 48.28 -10.85 35.65 -5.77 -17.69 30.58 3.80 -12.80 20.98 -49.13 220 22.34 -18.91 YoY EPS Growth (%)
-18.30 -67.61 26.42 51.40 41.48 -0.19 -12.16 23.16 3.55 23.92 -0.27 6.05 11.25 7.22 2.46 28.28 12.34 YoY EBITDA Growth (%)
22.79 48.87 9.17 -11.34 -9.89 10.11 19.94 11.57 5.46 6.10 10.79 11.08 7.49 7.58 7.75 9.17 9.60 EBITDA 5-Y Growth (%)
152 145 143 144 143 144 148 147 147 153 155 155 152 150 149 150 150 Shares Outstanding (Basic
Average)
147 146 141 146 142 147 148 143 151 154 156 155 151 150 149 150 151 Shares Outstanding (EOP)
1.84 2.85 2.86 2.20 0.98 0.68 0.62 0.52 0.58 0.59 0.73 0.90 1.08 1.14 1.48 1.26 1.26 Beta
01/12/05 01/12/06 01/11/07 12/21/07 12/22/08 12/18/09 12/17/10 12/16/11 12/20/12 12/20/13 12/15/14 12/14/15 12/12/16 12/14/17 12/17/18 12/20/19 Filing Date
01/12/06 01/11/07 12/21/07 12/22/08 12/18/09 12/17/10 12/16/11 12/20/13 12/15/14 12/14/15 12/12/16 12/14/17 12/17/18 12/20/19 12/20/19 12/20/19 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNPS 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SNPS 7/7
Allergan PLC (NYSE:AGN) 03/03/2020 2:00PM EST GuruFocus
Price: $ 191.29 -2.55(-1.32%) Market Cap: $ 62.93 B Enterprise Value: $80.26 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.26 Operating margin (%) -0.10
P/B 1.09
Equity to Asset 0.61 Net-margin (%) -32.76
F-Score: P/S 3.89
ROE (%) -8.70
5 PFCF 9.24
Z-Score: ROA (%) -5.44
1.08 POCF 8.70
ROC (Joel Greenblatt) (%) -172.50
M-Score: EV-to-EBIT -18.52
-2.87 Revenue Growth (3Y)(%) 8.90
Current Ratio 1.01
EBITDA Growth (3Y)(%) -24.70
Quick Ratio 0.90
EPS Growth (3Y)(%) -71.60
Days Inventory 146.72
Days Sales Outstanding 72.42
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year Allergan is one of the largest specialty pharmaceutical manufacturers. It specializes in aesthetics, ophthalmology,
women's health, gastrointestinal, and central nervous system products. In 2016, Allergan sold its generics and
slow down 2016 3,399 3,685 3,622 3,864 14,571 distribution segments to Teva.... (Read More)
2017 3,573 4,007 4,034 4,326 15,941 Competitors: TSE:4519 , NAS:BIIB, SHSE:600276 , NAS:CELG, XTER:BAYA, TSE:4568 , NAS:GILD,
Dividend Yield %: Close to 2-
2018 3,672 4,124 3,911 4,080 15,787 TSE:4503, LSE:GSK, XMAD:GRF, TSE:4578, HKSE:01093, TSE:4151, TSE:4528, SHSE:600436, MIL:REC,
year low TSE:4536, NAS:HZNP, OHEL:ORNAV, NSE:TORNTPHARM
2019 3,597 4,090 4,051 4,351 16,089
Price: Close to 2-year high 2020 Insider Trades
PS Ratio: Close to 2-year high Quarterly Earnings per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.47 -1.44 38.58 -0.20 37.41
2017 -7.86 -2.37 -12.07 8.88 -13.42
GuruFocus does not
2018 -0.99 -1.39 -0.11 -12.83 -15.32
calculate intrinsic value: DCF
2019 -7.25 -5.37 -2.40 -0.97 -15.99
(Earnings Based) for
2020
companies with one star
predictability or not rated. But Quarterly Dividends Per Share
you can go to each stock's
Mar Jun Sep Dec Full Year
DCF page to calculate
2016 0.00 0.00 0.00 0.00 0.00
yourself.
2017 0.70 0.70 0.70 0.70 2.80
2018 0.72 0.72 0.72 0.72 2.88
Reverse DCF 2019 0.74 0.74 0.74 0.74 2.96
2020
GuruFocus does not
calculate reverse DCF growth Growth Rate
rate for companies with one
Annual Rates(per share) 10-Y 5-Y 12-M
star predictability or not rated.
But you can go to each Revenue Growth (%) 6.20 16.40 4.40
stock's DCF page to calculate EBITDA Growth (%) 0.00 0.00 136.90
yourself.
Free Cash Flow Growth (%) 19.80 22.20 29.40
Book Value Growth (%) 30.30 8.10 -9.70
EPS Growth (%) 0.00 -14.60 0.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AGN 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
13.15 13.72 19.45 21.33 21.54 24.00 28.72 36.04 46.32 18.29 21.29 34.50 37.86 47.76 46.85 48.90 48.92 Revenue per Share
2.99 3.54 2.89 4.46 4.73 5.03 4.97 7.65 7.32 4.65 1.10 7.18 13.24 -5.76 2.38 5.64 5.69 EBITDA per Share
2.13 1.82 0.74 2.30 3.28 3.41 2.70 4.13 2.79 -2.69 -11.77 -9.12 -3.99 -27.83 -17.64 -13.18 -13.14 EBIT per Share
1.26 1.22 -4.37 1.27 2.09 1.96 1.48 2.05 0.76 -5.27 -7.42 10.01 38.18 -13.19 -15.26 -16.02 -15.99 Earnings per Share (diluted)
1.26 1.22 -4.37 1.27 2.09 1.96 1.48 2.05 0.76 -3.29 -11.31 -8.64 -3.17 -11.99 -15.26 -16.02 -15.99 eps without NRI
0.81 1.48 -2.07 2.55 2.64 2.15 3.01 2.98 2.18 -1.63 -0.39 2.46 68.48 -12.27 -3.99 5.83 5.83 Owner Earnings per Share (TTM)
1.92 2.06 4.19 3.00 2.69 2.62 4.05 3.83 4.07 6.36 8.96 10.87 2.89 15.32 15.98 20.68 20.71 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- -- -- 2.80 2.88 2.96 2.96 Dividends per Share
20.39 18.89 16.40 17.84 20.15 24.50 26.09 28.02 30.02 54.72 107 182 213 209 196 177 177 Book Value per Share
7.92 8.03 0.10 3.56 6.50 -1.55 0.97 1.90 -37.63 -39.61 -32.56 -108 -113 -108 -73.65 -66.76 -66.95 Tangible Book per Share
5.36 5.29 12.02 8.74 8.39 11.81 8.08 8.12 50.38 51.96 58.41 108 97.85 91.08 71.55 70.58 70.77 Total Debt per Share
32.81 32.51 26.03 27.14 26.57 39.61 51.65 60.34 86.00 168 257 313 210 164 134 191 191 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
6.99 6.39 -23.54 7.99 12.05 8.65 5.85 7.62 2.63 -11.23 -8.61 7.02 19.24 -5.87 -7.40 -8.55 -8.70 Return on Equity %
4.60 4.39 -13.02 3.90 6.67 4.63 3.18 4.21 0.93 -4.07 -4.32 4.16 11.32 -3.34 -4.63 -5.37 -5.44 Return on Assets %
31.33 24.47 7.08 22.19 32.56 29.66 23.61 38.44 18.64 -14.23 -93.23 -118 -65.28 -547 -333 -206 -173 Return on Capital %
7.79 6.54 3.40 6.08 9.53 6.98 5.40 8.17 2.60 -1.96 -4.92 -1.88 -0.33 -0.20 0.21 -0.02 -0.02 Return on Invested Capital %
7.20 7.77 12.37 11.02 7.09 7.11 10.61 8.63 5.35 5.19 4.90 7.31 5.36 3.66 4.86 9.27 9.47 Weighted Average Cost Of Capital (WACC) %
-- -- -- 4.16 3.16 2.93 6.80 6.73 2.99 3.10 3.35 4.11 3.44 3.49 3.38 3.33 3.33 Effective Interest Rate on Debt %
49.97 48.22 37.68 39.73 40.73 42.83 43.97 44.02 42.61 36.80 63.55 78.31 87.23 86.40 86.12 84.50 84.50 Gross Margin %
16.21 13.27 3.82 10.24 14.13 13.75 8.56 13.13 7.86 -14.15 -39.29 -18.50 -7.39 -3.40 1.62 -0.10 -0.10 Operating Margin %
9.14 8.42 -22.48 5.65 9.40 7.95 5.17 5.69 1.64 -28.83 -34.87 30.86 103 -25.88 -32.28 -32.76 -32.76 Net Margin %
14.57 14.98 21.54 14.07 12.47 10.92 14.12 10.61 8.78 34.80 42.09 31.50 7.63 32.09 34.12 42.30 42.30 FCF Margin %
0.26 0.28 0.73 0.49 0.42 0.48 0.31 0.29 1.68 0.95 0.55 0.56 0.43 0.41 0.37 0.40 0.40 Debt to Equity
0.69 0.68 0.45 0.53 0.57 0.51 0.58 0.53 0.27 0.42 0.54 0.57 0.59 0.62 0.64 0.61 0.61 Total Equity to Total Asset
0.18 0.19 0.33 0.26 0.24 0.25 0.18 0.15 0.46 0.40 0.29 0.31 0.25 0.25 0.23 0.25 0.25 Total Debt to Total Asset
25.15 25.14 21.81 27.43 28.89 24.97 27.06 32.59 24.22 5.20 7.87 10.55 9.61 11.14 12.35 13.84 14.03 Gross Profit to Total Asset %
0.50 0.52 0.58 0.69 0.71 0.58 0.62 0.74 0.57 0.14 0.12 0.14 0.11 0.13 0.14 0.16 0.17 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Dividend Payout Ratio
55.95 74.02 70.94 39.05 43.91 67.62 57.40 92.81 82.13 197 86.81 61.14 63.40 66.38 66.31 72.42 72.42 Days Sales Outstanding
85.69 26.19 59.11 96.58 92.61 60.14 39.30 108 64.37 109 69.22 28.64 44.11 54.63 58.26 57.16 57.16 Days Accounts Payable
159 128 118 122 117 133 121 108 131 370 297 116 145 137 146 145 147 Days Inventory
129 176 130 64.70 68.33 141 139 93.42 149 457 314 148 164 148 154 160 162 Cash Conversion Cycle
2.30 2.84 3.10 2.99 3.12 2.74 3.02 3.38 2.79 0.99 1.23 3.16 2.52 2.67 2.50 2.52 2.49 Inventory Turnover
0.50 0.52 0.62 0.60 0.59 0.57 0.56 0.56 0.57 0.63 0.36 0.22 0.13 0.14 0.14 0.15 0.15 COGS to Revenue
0.22 0.18 0.20 0.20 0.19 0.21 0.19 0.17 0.21 0.64 0.30 0.07 0.05 0.05 0.06 0.06 0.06 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AGN 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,641 1,646 1,979 2,497 2,536 2,793 3,567 4,584 5,915 2,603 4,677 12,688 14,571 15,941 15,787 16,089 16,089 Revenue
821 852 1,233 1,505 1,503 1,597 1,999 2,567 3,394 1,645 1,705 2,752 1,861 2,168 2,191 2,493 2,493 Cost of Goods Sold
820 794 746 992 1,033 1,196 1,568 2,018 2,521 958 2,972 9,936 12,710 13,773 13,596 13,596 13,596 Gross Profit
49.97 48.22 37.68 39.73 40.73 42.83 43.97 44.02 42.61 36.80 63.55 78.31 87.23 86.40 86.12 84.50 84.50 Gross Margin %
301 261 305 421 423 520 756 755 1,172 831 2,267 4,482 4,740 5,017 4,522 5,944 5,944 Selling, General, & Admin. Expense
134 125 131 145 170 197 296 307 403 191 606 2,359 2,576 2,100 2,266 1,812 1,812 Research & Development
118 189 234 170 81.00 94.80 211 354 481 304 1,936 5,444 6,470 7,197 6,552 5,857 5,857 Other Operating Expense
266 219 75.70 256 358 384 305 602 465 -368 -1,837 -2,347 -1,077 -541 256 -16.30 -16.30 Operating Income
16.21 13.27 3.82 10.24 14.13 13.75 8.56 13.13 7.86 -14.15 -39.29 -18.50 -7.39 -3.40 1.62 -0.10 -0.10 Operating Margin %
-- -- -- 8.89 9.00 5.00 1.60 2.10 2.50 4.80 8.10 10.60 69.90 67.70 45.20 76.80 76.80 Interest Income
-- -- -- -44.47 -28.20 -34.20 -84.10 -69.00 -112 -240 -412 -1,193 -1,296 -1,096 -911 -783 -783 Interest Expense
-- -- -- -35.59 -19.20 -29.20 -82.50 -66.90 -146 -235 -477 -1,448 -1,226 -1,028 -866 -706 -706 Net Interest Income
-30.38 1.42 -487 4.21 19.30 7.90 27.70 -79.20 -73.90 -19.60 -684 -753 -530 -8,817 -6,247 -4,396 -4,396 Other Income (Expense)
-- -- -- -- -- -- 1.10 1.80 -1.00 -- -- -4.20 -6.10 -6.60 -10.20 -5.90 -5.90 Other Income (Minority Interest)
236 220 -411 224 358 363 251 456 245 -623 -2,998 -4,548 -2,832 -10,386 -6,857 -5,119 -5,119 Pre-Tax Income
-85.55 -81.38 -34.06 -83.25 -120 -141 -67.30 -197 -147 155 514 1,606 1,897 6,670 1,771 -146 -146 Tax Provision
36.32 37.00 -8.29 37.12 33.46 38.78 26.86 43.18 59.89 24.94 17.13 35.31 66.98 64.22 25.82 -2.86 -2.86 Tax Rate %
150 139 -445 141 238 222 183 259 98.30 -468 -2,485 -2,942 -935 -3,716 -5,086 -5,265 -5,265 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -- -- -283 854 6,861 15,915 -403 -- -- -- Net Income (Discontinued
Operations)
150 139 -445 141 238 222 184 261 97.30 -750 -1,631 3,915 14,973 -4,126 -5,096 -5,271 -5,271 Net Income
9.14 8.42 -22.48 5.65 9.40 7.95 5.17 5.69 1.64 -28.83 -34.87 30.86 103 -25.88 -32.28 -32.76 -32.76 Net Margin %
-- -- -- -- -- -- -- -- -- -- -- 232 278 278 46.40 -- -- Preferred dividends
1.37 1.32 -4.37 1.38 2.32 2.11 1.51 2.05 0.76 -5.27 -7.42 10.01 38.18 -13.19 -15.26 -16.02 -15.99 EPS (Basic)
1.26 1.22 -4.37 1.27 2.09 1.96 1.48 2.05 0.76 -5.27 -7.42 10.01 38.18 -13.19 -15.26 -16.02 -15.99 EPS (Diluted)
125 120 102 117 118 116 124 127 128 142 220 368 385 334 337 329 328 Shares Outstanding (Diluted
Average)
107 207 218 254 171 189 282 448 579 1,045 2,828 5,995 6,631 7,369 6,749 6,192 6,192 Depreciation, Depletion and
Amortization
373 425 294 522 557 586 617 973 935 662 242 2,641 5,095 -1,922 803 1,856 1,856 EBITDA
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
299 467 154 205 508 201 283 209 319 329 250 1,096 1,724 1,817 880 2,503 2,503 Cash And Cash Equivalents
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AGN 3/7
382 152 6.65 11.80 13.20 13.60 11.10 14.90 9.00 2.50 1.00 9.30 11,502 4,632 1,027 3,412 3,412 Marketable Securities
680 620 161 216 521 215 294 224 328 332 251 1,105 13,226 6,449 1,907 5,915 5,915 Cash, Cash Equivalents,
Marketable Securities
251 334 385 267 305 517 561 1,166 1,331 1,405 1,112 2,125 2,531 2,899 2,868 3,192 3,192 Accounts Receivable
109 85.98 114 110 109 197 178 219 427 522 204 242 297 327 303 455 455 Inventories, Raw Materials &
Components
70.21 67.17 69.62 53.18 44.20 64.10 38.40 55.70 126 169 80.90 150 145 158 146 246 246 Inventories, Work In Process
-- -- -- -47.72 -34.70 -77.70 -51.40 -40.50 -111 -155 -63.40 -86.50 -82.20 -108 -122 -150 -150 Inventories, Inventories
Adjustments
142 125 334 375 355 509 466 655 1,105 1,250 764 452 358 528 520 582 582 Inventories, Finished Goods
-- -- -- -0.00 -- -- -0.00 -- 0.00 0.00 -- -- -- -- -- -- -- Inventories, Other
321 278 517 491 473 692 631 889 1,547 1,786 985 758 718 905 847 1,133 1,133 Total Inventories
117 122 199 200 160 345 301 290 633 912 4,763 4,577 1,289 1,044 853 886 886 Other Current Assets
1,370 1,354 1,262 1,174 1,458 1,770 1,787 2,570 3,838 4,435 7,111 8,579 17,858 11,377 6,475 11,127 11,127 Total Current Assets
-- -- -- 68.03 80.60 115 84.50 71.30 10.60 13.30 54.30 230 207 185 137 160 160 Investments And Advances
12.31 16.90 26.77 25.72 24.00 31.90 33.90 47.10 62.70 -- -- -- -- -- -- -- -- Land And Improvements
250 285 405 320 335 382 386 382 809 -- -- -- -- -- -- -- -- Buildings And Improvements
291 379 508 512 574 665 724 758 948 1,078 1,192 2,000 867 1,080 1,187 1,423 1,423 Machinery, Furniture, Equipment
94.57 37.21 86.75 105 68.60 39.60 32.50 131 115 153 151 578 446 507 467 442 442 Construction In Progress
648 717 1,027 1,016 1,070 1,197 1,266 1,408 2,231 2,529 1,303 2,620 2,019 2,402 2,565 3,345 3,345 Gross Property, Plant and
Equipment
-220 -281 -330 -328 -411 -503 -623 -694 -746 -912 -1,020 -1,088 -407 -616 -778 -928 -928 Accumulated Depreciation
427 436 697 688 659 694 642 714 1,485 1,617 283 1,531 1,611 1,785 1,787 2,417 2,417 Property, Plant and Equipment
1,368 1,207 1,670 1,480 1,428 3,215 3,160 3,322 8,639 16,432 36,988 114,301 108,975 104,511 89,609 80,139 80,139 Intangible Assets
-- 456 890 876 868 1,501 1,528 1,708 4,854 8,198 20,898 46,465 46,356 49,863 45,913 42,248 42,248 Goodwill
71.58 80.09 132 61.89 52.30 111 13.00 21.70 142 229 8,321 10,941 336 484 3,780 856 856 Other Long Term Assets
3,237 3,077 3,761 3,472 3,678 5,904 5,687 6,698 14,115 22,726 52,758 135,583 128,986 118,342 101,788 94,699 94,699 Total Assets
193 61.15 200 398 381 263 215 756 599 493 323 216 225 325 350 390 390 Accounts Payable
-- -- -- -- 15.50 78.40 39.90 107 81.60 140 37.20 152 113 151 141 130 130 Total Tax Payable
193 211 517 398 397 693 692 1,642 2,536 2,440 3,064 4,202 5,077 5,616 4,860 6,414 6,414 Accounts Payable & Accrued
Expense
-- -- 107 6.24 53.20 308 -- 185 176 535 693 2,397 2,798 4,232 868 4,657 4,657 Current Portion of Long-Term Debt
5.08 5.72 19.22 21.75 16.10 16.30 18.90 12.80 32.30 38.80 -- -- -- -- -- -- -- Current Deferred Revenue
-- -- -- 18.78 15.90 31.30 8.10 0.10 4.80 35.10 41.00 -- -- -- -- -- -- Current Deferred Taxes Liabilities
5.08 5.72 19.22 40.53 32.00 47.60 27.00 12.90 37.10 73.90 41.00 -- -- -- -- -- -- DeferredTaxAndRevenue
57.85 28.79 46.77 0.00 -- -- 88.70 -- 0.00 247 1,449 1,693 -0.00 -- -0.00 -- -- Other Current Liabilities
256 246 690 445 482 1,048 808 1,840 2,749 3,295 5,248 8,292 7,875 9,848 5,728 11,071 11,071 Total Current Liabilities
588 588 1,124 899 825 1,150 1,016 849 6,257 8,517 14,838 40,134 29,971 25,844 22,929 18,117 18,117 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 446 446 Capital Lease Obligation
588 588 1,124 899 825 1,150 1,016 849 6,257 8,517 14,838 40,134 29,971 25,844 22,929 18,563 18,563 Long-Term Debt & Capital Lease
Obligation
0.26 0.28 0.73 0.49 0.42 0.48 0.31 0.29 1.68 0.95 0.55 0.56 0.43 0.41 0.37 0.40 0.40 Debt to Equity
-- -- -- -- -- -- -- -- 50.20 79.20 52.00 257 224 216 181 155 155 PensionAndRetirementBenefit
141 127 204 271 258 488 332 296 1,019 863 2,780 8,105 13,097 6,504 5,629 4,480 4,480 NonCurrent Deferred Liabilities
-- -- -- -- -- -- 0.90 -1.10 22.60 5.00 4.40 -2.10 7.80 16.00 16.90 22.80 22.80 Minority Interest
16.29 16.40 62.25 7.33 4.90 195 248 152 183 434 1,505 2,206 1,620 2,093 2,190 2,235 2,235 Other Long-Term Liabilities
1,001 977 2,080 1,623 1,569 2,880 2,404 3,136 10,258 13,189 24,423 58,994 52,786 44,505 36,657 36,503 36,503 Total Liabilities
0.36 0.37 0.37 0.37 0.40 0.40 0.40 0.40 0.40 -- -- -- -- -- -- -- -- Common Stock
-- -- -- -- -- -- -- -- -- -- -- 4,930 4,930 4,930 -- -- -- Preferred Stock
1,347 1,487 1,042 1,180 1,418 1,640 1,825 2,085 2,183 1,432 -198 3,648 18,343 12,957 7,259 992 992 Retained Earnings
9.52 -10.16 1.07 2.39 -- 1.90 -2.50 -76.50 36.80 90.50 -465 -494 -1,038 1,921 1,345 1,207 1,207 Accumulated other comprehensive
income (loss)
880 924 937 969 996 1,687 1,772 1,881 1,957 8,013 28,995 68,508 53,959 54,014 56,510 55,975 55,975 Additional Paid-In Capital
-- -300 -300 -302 -303 -306 -313 -327 -343 -3.30 -- -- -- -- -- -- -- Treasury Stock
2,237 2,100 1,680 1,849 2,109 3,023 3,282 3,564 3,834 9,532 28,331 76,591 76,193 73,821 65,114 58,174 58,174 Total Equity
0.69 0.68 0.45 0.53 0.57 0.51 0.58 0.53 0.27 0.42 0.54 0.57 0.59 0.62 0.64 0.61 0.61 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AGN 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
150 139 -445 141 238 222 183 259 98.30 -750 -1,631 3,919 14,980 -4,119 -5,086 -5,265 -5,265 Net Income
150 139 -445 141 238 222 183 259 98.30 -750 -1,631 3,919 14,980 -4,119 -5,086 -5,265 -5,265 Net Income From Continuing
Operations
107 207 218 254 171 189 282 448 579 1,045 2,828 5,995 6,631 7,369 6,749 6,192 6,192 Depreciation, Depletion and
Amortization
-40.29 -82.37 66.17 2.82 -55.50 -36.20 -57.10 -591 371 19.10 -611 -1,034 -191 -188 -37.00 -359 -359 Change In Receivables
9.25 1.05 -53.68 -25.09 -28.20 -82.20 10.50 -292 -50.30 -213 -207 -226 -268 -145 -146 -393 -393 Change In Inventory
11.58 -4.12 5.16 4.29 33.30 9.10 55.40 43.50 -41.60 49.90 29.40 70.90 29.90 27.90 4.30 -78.10 -78.10 Change In Prepaid Assets
-24.17 18.46 117 7.70 24.40 16.90 75.70 757 -353 15.20 424 54.70 -13.10 1,210 -1,040 3,132 3,132 Change In Payables And Accrued
Expense
-99.89 -90.23 116 -17.75 -37.20 -87.00 88.90 -122 -76.70 -164 -432 -1,272 -727 934 -1,292 2,103 2,103 Change In Working Capital
13.46 -5.17 -24.69 -6.25 3.50 -19.00 -118 -127 -221 -275 -690 -7,380 3,841 -7,783 -1,256 -661 -661 Change In DeferredTax
-- -- -- 14.24 18.50 19.10 23.50 39.80 48.80 134 368 690 335 293 240 214 214 Stock Based Compensation
138 75.61 606 37.85 22.40 50.10 81.90 134 137 572 1,358 2,142 -24,358 4,659 2,640 667 667 Cash Flow from Others
308 326 471 427 417 377 571 632 666 1,214 2,243 4,606 1,446 6,079 5,640 7,239 7,239 Cash Flow from Operations
-69.21 -78.83 -45.03 -75.05 -63.50 -55.40 -56.60 -127 -138 -178 -239 -455 -331 -350 -254 -375 -375 Purchase Of Property, Plant,
Equipment
30.48 -- 21.56 14.39 -- 3.00 2.70 6.70 8.00 7.10 13.70 140 33.30 7.10 30.40 23.70 23.70 Sale Of Property, Plant, Equipment
-- -- -- -- -- -968 -67.50 -575 -5,743 -15.10 -5,562 -37,510 -1,199 -5,290 -- -80.60 -80.60 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- 33,804 -- -- -- -- Sale Of Business
-217 -26.08 -18.84 -8.45 -8.60 -8.00 -49.20 -13.60 -162 -- -1.00 -24.30 -15,744 -9,784 -2,472 -3,938 -3,938 Purchase Of Investment
72.36 220 158 5.64 14.90 9.00 105 6.10 58.90 40.60 454 883 7,772 15,153 6,259 1,570 1,570 Sale Of Investment
-- -- -- -0.82 -37.00 -16.50 -10.90 -18.70 -9.00 -130 -36.10 -155 -2.00 -614 -- -58.30 -58.30 Net Intangibles Purchase And Sale
-24.05 1.19 -1,535 0.00 0.80 0.00 2.50 2.30 235 -- 0.00 -0.00 0.00 0.00 -466 -0.00 -0.00 Cash From Other Investing Activities
-207 116 -1,419 -64.29 -93.40 -1,036 -74.10 -719 -5,749 -275 -5,371 -37,121 24,333 -878 3,099 -2,859 -2,859 Cash Flow from Investing
32.26 28.42 8.14 16.16 8.40 33.40 54.70 54.90 -- -- -- 4,071 -- -- -- -- -- Issuance of Stock
-- -300 -- -1.78 -0.90 -3.60 -6.30 -14.20 -16.10 -170 -130 -118 -15,076 -493 -2,775 -841 -841 Repurchase of Stock
-- -- -- -- -- -- -- -- -- -- -- 4,930 -- -- -- -- -- Net Issuance of Preferred Stock
-153 -- 627 -327 -27.70 323 -460 -28.80 5,361 -792 3,229 25,004 -9,799 -2,864 -6,148 -1,033 -1,033 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -- -208 -278 -1,218 -1,050 -974 -974 Cash Flow for Dividends
-- -1.48 -- -- -- -- -- 59.40 -155 94.90 -81.60 -311 11.00 -554 293 81.90 81.90 Other Financing
-121 -273 635 -313 -20.20 353 -411 16.40 5,190 -867 3,018 33,367 -25,143 -5,129 -9,680 -2,766 -2,766 Cash Flow from Financing
-19.39 169 -313 50.38 303 -306 81.40 -73.50 110 47.00 -116 846 628 93.20 -937 1,623 1,623 Net Change in Cash
-69.21 -78.83 -45.03 -75.87 -101 -71.90 -67.50 -145 -147 -308 -275 -610 -333 -964 -254 -434 -434 Capital Expenditure
239 247 426 351 316 305 504 487 519 906 1,968 3,997 1,112 5,115 5,387 6,805 6,805 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AGN 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
26.04 26.65 -- 21.37 12.71 20.31 34.66 29.22 115 -- -- 35.27 5.61 -- -- -- -- PE Ratio(TTM)
40.76 22.03 -- 10.64 10.08 18.40 17.18 20.26 39.47 -- -- 127 3.07 -- -- 32.79 32.80 Price to Owner Earnings (TTM)
1.61 1.72 1.59 1.52 1.32 1.62 1.98 2.15 2.86 3.07 2.42 1.72 0.99 0.78 0.68 1.08 1.09 Price to Book
4.14 4.05 250 7.62 4.09 -- 53.41 31.76 -- -- -- -- -- -- -- -- -- Price to Tangible Book
17.10 15.93 6.74 9.04 9.89 14.95 12.76 15.68 21.05 28.02 28.49 29.76 76.45 10.66 8.36 9.23 9.24 Price-to-Free-Cash-Flow Ratio
13.26 12.03 6.08 7.43 7.51 12.14 11.26 12.08 16.43 21.04 25.17 25.65 58.08 8.97 7.98 8.68 8.70 Price-to-Operating-Cash-Flow
Ratio
2.49 2.37 1.42 1.27 1.23 1.65 1.80 1.67 1.85 6.55 6.45 8.67 5.53 3.42 2.85 3.91 3.89 PS Ratio
3.18 1.65 -- -- 2.20 1.92 2.33 2.19 9.68 -- -- -- -- -- -- -- -- PEG Ratio
2.14 2.18 1.89 1.40 1.24 2.20 2.02 1.85 2.89 14.60 10.70 12.79 6.51 5.18 4.20 4.98 4.97 EV-to-Revenue
8.38 8.43 12.71 6.71 5.74 10.47 11.71 8.72 18.29 57.41 102 63.49 18.61 -42.96 82.65 43.12 43.23 EV-to-EBITDA
11.24 16.40 49.37 13.03 8.34 15.45 21.57 16.16 47.97 -99.19 -41.70 -51.04 -61.71 -8.89 -11.16 -18.46 -18.52 EV-to-EBIT
8.90 6.10 2.03 7.67 11.99 6.47 4.64 6.19 2.08 -1.01 -2.40 -1.96 -1.62 -11.25 -8.96 -5.42 -5.41 Return on Capital %
11.54 20.88 16.30 7.37 15.08 17.76 20.89 18.82 15.95 6.41 8.11 -6.69 6.28 -- -- -- 8.61 Forward Rate of Return
23.12 21.50 25.94 26.12 24.61 37.12 49.73 53.09 83.90 601 -- 1,177 46.31 51.71 92.30 -- -- Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- -- -- -- 1.71 2.15 1.55 1.56 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,600 3,615 2,667 2,813 2,780 4,888 6,498 7,675 10,982 29,266 68,445 123,281 70,332 54,014 44,455 62,895 62,935 Market Cap
3,507 3,583 3,738 3,503 3,137 6,131 7,221 8,483 17,110 37,991 83,730 169,634 94,813 82,586 66,363 80,222 80,262 Enterprise Value
32.81 32.51 26.03 27.14 26.57 39.61 51.65 60.34 86.00 168 257 313 210 164 134 191 191 Month End Stock Price
-2.92 -3.21 -18.73 -13.57 -10.02 -21.60 -16.78 -22.88 -77.94 -73.84 -90.92 -147 -118 -115 -105 -93.04 -93.30 Net Cash (per share)
3.37 3.39 -7.99 -4.33 -1.06 -9.00 -4.91 -4.44 -50.45 -50.28 -65.12 -140 -119 -115 -90.79 -77.20 -77.41 Net Current Asset Value (per
share)
0.26 0.29 -13.39 -9.27 -5.57 -15.65 -10.93 -12.51 -64.07 -62.66 -85.93 -154 -126 -122 -96.79 -84.04 -84.27 Net-Net Working Capital (per
share)
26.77 28.67 38.11 41.61 47.78 63.67 63.53 68.93 72.16 71.47 113 189 211 243 243 281 281 Projected FCF (per share)
84.09 78.37 65.74 62.03 54.09 56.26 59.28 70.25 86.07 47.26 73.47 66.41 74.42 107 141 169 169 Median PS (per share)
10.33 19.65 -33.43 20.93 12.06 20.59 22.13 27.55 8.88 -- -38.17 -58.44 -36.91 -- -- -- -- Peter Lynch Fair Value (per
share)
14.98 14.85 -- 10.09 17.49 -- 5.67 9.36 -- -- -- -- -- -- -- -- -- Graham Number (per share)
16.37 13.50 7.32 11.18 14.82 8.83 16.74 21.61 -15.04 -27.01 -52.86 -102 -48.77 -21.00 1.01 26.08 26.08 Earnings Power Value (EPV)
3.90 4.10 1.51 2.70 2.95 2.25 3.10 2.98 1.45 1.54 1.74 1.31 1.17 0.77 0.80 1.07 1.08 Altman Z-Score
6.00 6.00 4.00 8.00 8.00 6.00 6.00 7.00 4.00 3.00 6.00 6.00 7.00 5.00 3.00 5.00 5.00 Piotroski F-Score
-2.30 -2.46 -2.78 -3.06 -2.59 -1.94 -2.75 -1.98 -2.57 -2.01 -1.78 -1.77 -1.84 -2.39 -2.64 -2.87 -2.87 Beneish M-Score
0.65 0.64 0.89 0.68 0.71 1.16 0.68 0.77 1.49 1.29 1.92 2.24 0.71 0.76 0.74 0.74 0.80 Scaled Net Operating Assets
1.50 -9.86 13.38 -6.39 -2.31 14.93 -5.50 5.19 36.70 -7.43 2.84 26.87 -8.38 -7.88 -13.59 -10.19 -10.19 Sloan Ratio (%)
5.36 5.51 1.83 2.64 3.03 1.69 2.21 1.40 1.40 1.35 1.36 1.03 2.27 1.16 1.13 1.01 1.01 Current Ratio
4.10 4.38 1.08 1.54 2.04 1.03 1.43 0.91 0.83 0.80 1.17 0.94 2.18 1.06 0.98 0.90 0.90 Quick Ratio
49.11 36.61 34.76 33.69 31.14 40.12 51.95 72.10 90.85 168 271 340 313 256 193 192 202 Highest Stock Price
24.85 28.11 21.42 25.28 20.76 23.74 37.69 50.59 55.89 83.10 168 252 188 164 130 116 114 Lowest Stock Price
-1.28 -1.35 7.86 -1.16 -0.93 -17.94 -1.94 -1.11 -0.39 -36.41 -52.64 -48.36 15.11 1.40 -0.73 1.08 1.35 Shares Buyback Ratio (%)
8.93 4.28 41.81 9.68 0.98 11.39 19.69 25.50 28.52 -60.52 16.39 62.06 9.74 26.15 -1.90 4.39 4.43 YoY Rev. per Sh. Growth (%)
-27.59 -3.17 -458 129 64.57 -6.22 -24.49 38.59 -62.85 -792 -40.80 235 281 -135 -15.69 -4.98 -4.37 YoY EPS Growth (%)
-17.89 18.61 -18.43 54.43 6.07 6.32 -1.35 54.06 -4.25 -36.51 -76.30 552 84.32 -144 141 137 149 YoY EBITDA Growth (%)
8.20 16.11 7.58 -1.03 5.77 10.56 14.85 13.34 11.84 3.96 6.03 -8.84 3.21 -- -- -- -- EBITDA 5-Y Growth (%)
109 105 102 102 103 105 122 127 128 142 220 368 385 334 337 329 328 Shares Outstanding (Basic
Average)
110 111 102 104 105 123 126 127 128 174 266 395 335 330 333 329 328 Shares Outstanding (EOP)
0.81 0.96 1.92 1.65 0.75 0.52 0.39 0.13 0.20 0.35 0.67 1.19 1.12 1.09 1.36 1.97 1.96 Beta
02/23/09 02/23/09 03/01/10 02/22/11 02/16/12 02/28/13 02/25/14 02/18/15 02/26/16 02/24/17 02/16/18 02/15/19 02/18/20 Filing Date
02/23/09 03/01/10 02/22/11 02/16/12 02/25/14 02/18/15 02/26/16 02/24/17 02/16/18 02/15/19 02/18/20 02/18/20 02/18/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AGN 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/AGN 7/7
Conagra Brands Inc (NYSE:CAG) 03/03/2020 2:00PM EST GuruFocus
Price: $ 27.63 -0.61(-2.16%) Market Cap: $ 13.45 B Enterprise Value: $23.81 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 6/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 16.76
Cash to Debt 0.02 Operating margin (%) 13.51
Forward P/E N/A
Equity to Asset 0.34 Net-margin (%) 7.62
PE(NRI) 16.76
Interest Coverage 2.79 ROE (%) 10.84
F-Score:
P/B 1.77
ROA (%) 3.56
4 P/S 1.27
Z-Score: ROC (Joel Greenblatt) (%) 51.46
1.55 PFCF 15.13
Revenue Growth (3Y)(%) 2.70
M-Score: POCF 10.40
-2.49 EBITDA Growth (3Y)(%) 30.70
EV-to-EBIT 16.26
WACC vs 7.74% EPS Growth (3Y)(%) 74.10
ROIC 6.11% PEG 6.33
WACC
ROIC Shiller P/E 25.66
Current Ratio 0.88
Quick Ratio 0.37
Days Inventory 81.22
Days Sales Outstanding 32.84
Warning Signs Quarterly Revenues Company Description
Stock buyback: Poor Mar Jun Sep Dec Full Year Conagra Brands is a packaged food company that operates predominantly in the United States (92% of revenue and
94% of profits). It has a significant presence in the freezer aisle, with brands such as Marie Callender's, Healthy
buyback track record 2016 2,199 2,053 1,896 2,088 8,236 Choice, Banquet, and Birds Eye. Popular center-of-store brands include Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville
2017 1,981 1,862 1,804 2,173 7,821 Redenbacher's, and Chef Boyardee. While the majority of revenue is sold into the U.S. retail channel, 11% of sales
ROIC vs. WACC: Return on are to the food-service channel.... (Read More)
2018 1,995 1,966 1,834 2,384 8,179
invested capital is less than Competitors: NYSE:CPB, HKSE:02319 , NYSE:LW, TPE:1216 , HKSE:06186 , BSP:JBSS3 , HKSE:00288 ,
2019 2,707 2,613 2,391 2,821 10,532 TSX:SAP, NYSE:SJM, SAU:2280, SZSE:000895, HKSE:00322, BOM:500825, TSE:2801, HKSE:03799, TSE:2802,
weighted average cost of
2020 HKSE:00151, OSL:ORK, ISX:ICBP, TSE:2269
capital.
Quarterly Earnings per Share Insider Trades
Good Signs Mar Jun Sep Dec Full Year
2016 0.46 0.27 0.42 0.28 1.43
Operating Margin %: 2017 0.41 0.36 0.36 0.54 1.67
Expansion 2018 0.90 0.18 0.45 0.31 1.84
PE Ratio: Close to 1-year low 2019 0.50 0.26 0.36 0.53 1.65
2020
Insider Buy: Insider Buying
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
2016 0.25 0.25 0.25 0.25 1.00
GuruFocus does not 2017 0.20 0.20 0.21 0.21 0.83
calculate intrinsic value: DCF 2018 0.21 0.21 0.21 0.21 0.85
(Earnings Based) for 2019 0.21 0.21 0.21 0.21 0.85
companies with one star 2020
predictability or not rated. But
you can go to each stock's Growth Rate
DCF page to calculate Annual Rates(per share) 10-Y 5-Y 12-M
yourself.
Revenue Growth (%) -4.70 -4.50 7.00
EBITDA Growth (%) -2.60 2.70 34.00
Reverse DCF
Free Cash Flow Growth (%) 0.00 -9.90 38.90
GuruFocus does not
Book Value Growth (%) -0.10 2.20 5.10
calculate reverse DCF growth
rate for companies with one EPS Growth (%) -2.80 11.10 -9.30
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CAG 1/7
Per Share Data
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
20.61 21.83 19.78 20.80 23.56 27.31 26.87 28.52 31.87 32.25 27.69 20.95 19.76 17.95 19.49 21.41 21.64 Revenue per Share
2.56 2.69 1.93 2.48 2.54 3.09 3.69 4.16 2.85 4.12 3.52 2.78 1.56 2.75 3.18 3.49 3.80 EBITDA per Share
2.06 2.14 1.35 1.82 1.94 2.41 2.97 3.33 1.97 3.12 2.69 2.12 0.93 2.13 2.55 2.74 3.01 EBIT per Share
1.53 1.23 1.03 1.51 1.90 2.15 1.62 1.88 1.12 1.85 0.70 -0.60 -1.57 1.46 1.98 1.52 1.65 Earnings per Share (diluted)
1.53 1.23 0.89 0.95 1.06 1.36 1.66 1.90 1.10 1.64 1.43 1.04 0.29 1.25 1.95 1.53 1.65 eps without NRI
1.71 0.95 1.46 1.80 0.78 2.35 2.27 2.27 1.45 2.27 0.65 -0.69 -2.41 1.93 2.20 1.83 2.01 Owner Earnings per Share (TTM)
0.67 1.40 1.55 0.84 -0.81 -0.67 2.22 2.00 1.56 2.36 2.59 2.94 2.24 2.13 1.73 1.73 1.83 Free Cashflow per Share
1.03 1.08 1.00 0.72 0.75 0.76 0.79 0.89 0.95 0.99 1.00 1.00 1.00 0.90 0.85 0.85 0.85 Dividends per Share
9.20 9.38 9.10 9.36 11.02 10.69 11.13 11.38 10.89 12.55 12.46 10.57 8.48 9.58 9.41 15.19 15.64 Book Value per Share
0.34 1.17 0.79 0.82 2.15 0.91 1.13 0.30 -1.88 -15.65 -13.69 -3.02 -4.17 -3.67 -5.36 -18.06 -17.10 Tangible Book per Share
10.92 8.64 7.02 7.06 8.26 7.89 7.89 7.88 7.21 22.86 21.20 18.46 12.45 7.19 9.76 21.97 21.51 Total Debt per Share
21.88 20.35 17.59 19.84 18.35 14.47 18.82 19.79 19.57 26.22 25.13 30.04 35.56 38.54 37.06 26.77 27.63 Month End Stock Price
Ratios
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
17.23 13.29 11.23 16.56 18.76 19.45 15.05 17.01 10.24 15.92 5.73 -5.20 -16.55 16.57 21.09 12.26 10.84 Return on Equity %
5.54 4.71 4.27 6.42 7.29 7.90 6.36 7.06 4.10 4.86 1.53 -1.37 -4.39 5.44 7.89 4.16 3.56 Return on Assets %
22.84 24.40 16.23 22.88 22.79 28.00 36.90 37.63 21.78 29.04 21.79 20.18 12.95 42.03 58.44 55.27 51.46 Return on Capital %
6.70 6.94 5.66 7.84 8.00 8.45 10.73 12.79 7.87 7.58 6.10 4.38 2.23 7.41 10.69 6.83 6.11 Return on Invested Capital %
4.21 4.25 6.07 6.01 4.44 6.49 6.99 6.70 4.46 4.84 5.54 4.64 3.08 3.58 4.86 8.67 7.74 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 6.79 4.97 7.05 6.54 6.74 4.46 4.10 3.91 4.45 4.71 4.77 5.50 4.70 Effective Interest Rate on Debt %
25.53 24.89 24.79 25.57 23.47 22.39 25.48 23.43 21.00 24.98 24.73 25.42 28.04 29.95 29.62 27.81 27.75 Gross Margin %
9.98 9.80 6.82 8.73 8.21 8.84 10.34 11.33 6.14 9.64 9.70 10.10 4.67 11.11 12.01 12.37 13.51 Operating Margin %
7.43 5.64 5.21 7.26 8.05 7.87 6.04 6.60 3.51 5.75 2.56 -2.80 -7.81 8.17 10.18 7.11 7.62 Net Margin %
3.25 6.42 7.84 4.04 -3.43 -2.46 8.24 7.01 4.90 7.31 9.36 14.04 11.33 11.86 8.85 8.10 8.43 FCF Margin %
1.19 0.92 0.77 0.76 0.75 0.74 0.71 0.69 0.66 1.82 1.70 1.75 1.47 0.75 1.04 1.45 1.38 Debt to Equity
0.34 0.37 0.39 0.39 0.39 0.43 0.42 0.41 0.39 0.26 0.27 0.26 0.28 0.40 0.35 0.33 0.34 Total Equity to Total Asset
0.40 0.34 0.30 0.29 0.29 0.32 0.30 0.28 0.26 0.47 0.46 0.45 0.41 0.30 0.37 0.48 0.47 Total Debt to Total Asset
19.05 20.78 20.32 22.62 21.27 22.48 26.84 25.08 24.50 21.13 14.74 12.49 15.76 19.96 22.96 16.27 12.96 Gross Profit to Total Asset %
0.75 0.84 0.82 0.89 0.91 1.00 1.05 1.07 1.17 0.85 0.60 0.49 0.56 0.67 0.78 0.59 0.47 Asset Turnover
0.67 0.88 1.12 0.76 0.71 0.56 0.48 0.47 0.86 0.60 0.70 0.96 3.45 0.72 0.44 0.56 0.51 Dividend Payout Ratio
44.23 40.43 41.95 28.38 -- -- 26.07 25.26 25.32 34.67 32.63 29.86 27.39 26.27 26.18 31.83 32.84 Days Sales Outstanding
42.20 33.37 41.07 34.76 32.42 30.62 37.47 41.71 41.25 54.12 55.27 58.51 41.37 51.46 59.15 66.54 69.15 Days Accounts Payable
113 101 101 87.44 73.24 70.93 69.70 65.45 63.65 76.05 90.48 101 78.64 65.64 62.61 67.86 81.22 Days Inventory
115 108 102 81.06 40.82 40.31 58.30 49.00 47.72 56.60 67.84 72.10 64.66 40.45 29.64 33.15 44.91 Cash Conversion Cycle
3.23 3.61 3.60 4.17 4.98 5.15 5.24 5.58 5.73 4.80 4.03 3.62 4.64 5.56 5.83 5.38 4.49 Inventory Turnover
0.74 0.75 0.75 0.74 0.77 0.78 0.75 0.77 0.79 0.75 0.75 0.75 0.72 0.70 0.70 0.72 0.72 COGS to Revenue
0.23 0.21 0.21 0.18 0.15 0.15 0.14 0.14 0.14 0.16 0.19 0.21 0.16 0.13 0.12 0.13 0.16 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CAG 2/7
Income Statement
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
10,926 11,384 10,251 10,532 11,564 12,426 12,015 12,386 13,331 13,469 11,838 9,034 8,664 7,827 7,938 9,538 10,532 Revenue
8,137 8,550 7,710 7,839 8,849 9,644 8,954 9,484 10,532 10,104 8,911 6,738 6,235 5,483 5,587 6,885 7,609 Cost of Goods Sold
2,790 2,834 2,541 2,693 2,714 2,782 3,061 2,903 2,799 3,365 2,927 2,296 2,429 2,344 2,352 2,653 2,923 Gross Profit
25.53 24.89 24.79 25.57 23.47 22.39 25.48 23.43 21.00 24.98 24.73 25.42 28.04 29.95 29.62 27.81 27.75 Gross Margin %
1,700 1,718 1,842 1,774 1,764 1,684 1,819 1,499 1,980 2,066 1,779 1,383 2,025 1,474 1,398 1,473 1,499 Selling, General, & Admin. Expense
-0.00 -- 0.00 0.00 -- -- -0.00 -- -- -- -- -0.00 -0.00 0.00 -0.00 -- -0.00 Other Operating Expense
1,090 1,116 699 919 950 1,098 1,242 1,404 819 1,299 1,149 913 405 870 953 1,180 1,423 Operating Income
9.98 9.80 6.82 8.73 8.21 8.84 10.34 11.33 6.14 9.64 9.70 10.10 4.67 11.11 12.01 12.37 13.51 Operating Margin %
-- -- -- -- -- -- 85.20 42.20 4.00 2.90 2.30 1.00 1.20 3.70 3.80 6.80 4.70 Interest Income
-- -- -- -- -253 -186 -246 -220 -208 -279 -380 -329 -297 -199 -163 -398 -511 Interest Expense
-- -- -- -- -253 -186 -160 -178 -204 -276 -378 -328 -296 -196 -159 -391 -506 Net Interest Income
-275 -128 57.90 -220 49.70 24.00 0.00 -- -- -- -- -- -- 55.20 80.40 35.10 36.00 Other Income (Expense)
-- -- -- -- -- -0.60 2.50 -1.80 -6.50 -12.20 -12.00 -11.80 -11.10 -8.70 -3.40 -0.10 -0.80 Other Income (Minority Interest)
815 987 757 699 746 936 1,081 1,226 615 1,023 771 585 109 730 875 823 953 Pre-Tax Income
-319 -404 -235 -246 -227 -319 -361 -422 -192 -362 -178 -213 -46.40 -255 -175 -219 -212 Tax Provision
39.18 40.89 31.05 35.10 30.46 34.02 33.37 34.39 31.19 35.38 23.13 36.38 42.65 34.91 19.96 26.58 22.19 Tax Rate %
539 559 464 482 519 618 743 831 468 698 625 451 129 546 798 680 804 Net Income (Continuing Operations)
285 82.80 70.20 282 412 361 -19.30 -11.50 6.50 87.70 -310 -692 -794 102 14.30 -1.90 -1.90 Net Income (Discontinued
Operations)
811 642 534 765 931 978 726 818 468 774 303 -253 -677 639 808 678 803 Net Income
7.43 5.64 5.21 7.26 8.05 7.87 6.04 6.60 3.51 5.75 2.56 -2.80 -7.81 8.17 10.18 7.11 7.62 Net Margin %
1.54 1.24 1.03 1.52 1.91 2.16 1.63 1.90 1.13 1.88 0.72 -0.60 -1.57 1.48 2.00 1.53 1.65 EPS (Basic)
1.53 1.23 1.03 1.51 1.90 2.15 1.62 1.88 1.12 1.85 0.70 -0.60 -1.57 1.46 1.98 1.52 1.65 EPS (Diluted)
530 522 518 506 491 455 447 434 418 418 428 431 439 436 407 446 488 Shares Outstanding (Diluted
Average)
270 287 300 335 296 308 324 361 371 419 355 285 279 268 257 333 386 Depreciation, Depletion and
Amortization
1,360 1,403 999 1,254 1,246 1,406 1,651 1,807 1,194 1,721 1,505 1,198 684 1,197 1,294 1,555 1,850 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CAG 3/7
Balance Sheet
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
609 208 332 731 141 243 953 972 103 184 141 165 798 251 128 237 192 Cash And Cash Equivalents
609 208 332 731 141 243 953 972 103 184 141 165 798 251 128 237 192 Cash, Cash Equivalents, Marketable
Securities
1,324 1,261 1,178 819 -- -- 858 857 925 1,279 1,058 739 650 563 569 832 948 Accounts Receivable
1,132 1,036 985 459 651 720 562 727 651 828 623 444 254 229 249 346 339 Inventories, Raw Materials &
Components
75.00 62.00 97.40 94.60 100.00 54.80 95.90 83.10 96.50 118 119 125 110 91.90 91.80 127 217 Inventories, Work In Process
1,202 1,056 924 1,001 1,175 1,047 940 993 1,122 1,395 1,335 1,073 680 607 648 1,099 1,214 Inventories, Finished Goods
172 -0.00 125 70.70 -0.00 -- -- -- -0.00 -- -- -- -- -0.00 0.00 0.00 -- Inventories, Other
2,581 2,154 2,131 1,625 1,926 1,822 1,598 1,803 1,870 2,341 2,077 1,643 1,044 928 989 1,572 1,770 Total Inventories
575 1,153 1,150 1,831 3,124 516 559 274 321 576 954 1,017 1,084 271 253 93.80 120 Other Current Assets
5,149 4,775 4,790 5,006 6,082 3,337 3,960 3,899 3,219 4,380 4,231 3,563 3,577 2,013 1,939 2,734 3,030 Total Current Assets
161 135 -- 115 199 194 169 201 202 254 218 194 107 103 107 144 -- Land And Improvements
4,390 3,694 -- 3,603 3,781 3,846 4,093 4,440 4,729 5,601 5,626 4,822 3,207 3,141 3,206 4,014 -- Buildings And Improvements
688 792 -- 836 810 816 843 872 905 901 902 807 749 724 610 678 -- Machinery, Furniture, Equipment
320 166 -- 279 222 271 248 185 159 332 362 244 136 125 85.30 174 -- Construction In Progress
5,558 4,787 4,830 4,832 5,011 5,126 5,353 5,698 5,996 7,087 7,109 6,068 4,199 4,093 4,009 5,010 4,983 Gross Property, Plant and Equipment
-2,721 -2,422 -2,561 -2,626 -2,529 -2,567 -2,750 -3,028 -3,254 -3,329 -3,473 -3,424 -2,502 -2,460 -2,419 -2,615 -2,661 Accumulated Depreciation
2,837 2,365 2,268 2,207 2,482 2,559 2,602 2,670 2,742 3,758 3,636 2,645 1,698 1,633 1,590 2,395 2,322 Property, Plant and Equipment
4,616 4,253 4,245 4,180 4,297 4,319 4,425 4,546 5,207 11,830 11,033 5,817 5,542 5,519 5,770 16,161 15,937 Intangible Assets
-- 3,452 3,446 3,405 3,480 3,484 3,550 3,609 4,015 8,427 7,829 4,545 4,319 4,295 4,487 11,500 11,443 Goodwill
1,620 1,651 667 443 821 859 751 294 274 438 419 5,413 2,574 931 1,091 924 1,204 Other Long Term Assets
14,222 13,043 11,970 11,836 13,683 11,073 11,738 11,409 11,442 20,405 19,320 17,438 13,391 10,096 10,390 22,214 22,493 Total Assets
941 782 868 747 786 809 919 1,084 1,190 1,498 1,349 1,080 707 773 905 1,255 1,442 Accounts Payable
2,293 2,299 2,426 1,927 1,849 1,526 1,498 1,638 2,147 2,694 2,252 1,933 1,495 1,493 1,738 2,121 2,251 Accounts Payable & Accrued
Expense
413 126 431 39.20 615 27.60 261 364 78.10 703 226 1,016 573 227 584 21.60 1,174 Current Portion of Long-Term Debt
299 215 108 714 1,188 20.20 277 124 -- 4.80 165 361 464 -- 13.90 -- 0.50 Other Current Liabilities
3,005 2,640 2,965 2,681 3,651 1,574 2,036 2,126 2,225 3,401 2,642 3,310 2,532 1,721 2,336 2,143 3,426 Total Current Liabilities
5,281 4,349 3,155 3,419 3,387 3,455 3,226 2,870 2,859 8,887 8,721 6,889 4,881 2,769 3,232 10,656 9,296 Long-Term Debt
5,281 4,349 3,155 3,419 3,387 3,455 3,226 2,870 2,859 8,887 8,721 6,889 4,881 2,769 3,232 10,656 9,296 Long-Term Debt & Capital Lease
Obligation
1.19 0.92 0.77 0.76 0.75 0.74 0.71 0.69 0.66 1.82 1.70 1.75 1.47 0.75 1.04 1.45 1.38 Debt to Equity
-- -- -- -- -- -- -- -- -- -- -- -- 1,105 710 262 263 -- PensionAndRetirementBenefit
-- -- -- -- -- -- -- -- -- -- -- -- 342 467 487 1,349 -- NonCurrent Deferred Liabilities
-- -- -- -- -- -- 5.00 7.00 96.50 98.60 96.70 84.00 81.20 87.00 80.40 79.10 78.50 Minority Interest
1,143 1,195 1,201 1,153 1,307 1,323 1,547 1,736 1,822 2,754 2,601 2,629 735 353 316 340 2,080 Other Long-Term Liabilities
9,428 8,183 7,320 7,253 8,345 6,352 6,809 6,732 6,906 15,042 13,964 12,828 9,596 6,019 6,633 14,750 14,802 Total Liabilities
2,829 2,830 2,831 2,832 2,833 2,836 2,840 2,840 2,840 2,840 2,840 2,840 2,840 2,840 2,840 2,921 2,921 Common Stock
2,349 2,438 2,455 2,856 3,410 4,043 4,417 4,690 4,765 5,130 5,011 4,331 3,218 4,247 4,745 5,048 5,275 Retained Earnings
-16.40 39.30 -24.00 -5.90 287 -104 -285 -91.20 -299 -196 -134 -330 -345 -213 -111 -110 -131 Accumulated other comprehensive
income (loss)
756 762 764 817 867 884 898 899 902 1,006 1,037 1,049 1,136 1,172 1,180 2,286 2,287 Additional Paid-In Capital
-1,124 -1,209 -1,376 -1,916 -2,059 -2,938 -2,945 -3,668 -3,768 -3,515 -3,494 -3,365 -3,136 -4,055 -4,978 -2,760 -2,740 Treasury Stock
4,794 4,859 4,650 4,583 5,337 4,721 4,924 4,670 4,440 5,264 5,259 4,526 3,714 3,991 3,676 7,385 7,612 Total Equity
0.34 0.37 0.39 0.39 0.39 0.43 0.42 0.41 0.39 0.26 0.27 0.26 0.28 0.40 0.35 0.33 0.34 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CAG 4/7
Cashflow Statement
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
526 642 534 765 519 618 743 831 468 698 625 451 129 546 798 680 804 Net Income
526 642 534 765 519 618 743 831 468 698 625 451 129 546 798 680 804 Net Income From Continuing
Operations
270 287 300 335 296 308 324 361 371 419 355 285 279 268 257 333 386 Depreciation, Depletion and
Amortization
-71.50 -24.00 14.40 -74.10 -66.80 73.10 -90.10 2.80 -4.20 -52.20 50.40 68.30 -157 105 -4.70 -69.10 -10.90 Change In Receivables
-152 -50.20 55.50 -107 -258 -44.20 200 -191 16.90 56.10 7.30 -63.30 66.10 123 -62.80 78.00 -76.80 Change In Inventory
253 -117 20.90 120 -137 171 -20.00 7.90 5.50 -13.30 0.50 -19.00 10.80 15.00 3.20 -19.10 -4.90 Change In Prepaid Assets
227 -55.00 115 169 -88.40 -92.70 230 60.20 120 55.80 -53.60 -17.50 4.90 -96.30 105 28.90 78.00 Change In Payables And Accrued
Expense
149 -73.90 264 113 -550 107 320 144 131 173 4.60 13.70 -340 199 50.90 102 28.20 Change In Working Capital
-- -- -- -- 61.00 45.90 55.80 44.80 41.80 67.00 44.80 33.30 41.80 36.10 37.90 33.70 36.00 Stock Based Compensation
-457 19.10 -87.40 -79.60 44.80 -97.00 -108 -60.40 24.30 -6.70 -27.90 20.80 454 -257 -238 -129 -160 Cash Flow from Others
581 1,113 1,067 943 92.70 124 1,473 1,352 1,052 1,412 1,569 1,505 1,259 1,170 954 1,126 1,291 Cash Flow from Operations
-226 -382 -263 -518 -489 -430 -482 -466 -336 -423 -461 -237 -278 -242 -252 -353 -404 Purchase Of Property, Plant,
Equipment
64.50 91.90 29.70 174 65.60 17.70 88.40 18.90 9.70 18.00 40.00 -- 35.70 13.20 8.00 22.50 10.60 Sale Of Property, Plant, Equipment
-- -- -- -- -255 -80.30 -107 -131 -635 -5,020 -39.90 -20.70 -10.40 -326 -337 -5,119 -- Purchase Of Business
-- -- -- -- -- 29.70 21.70 -- -- -- -- 391 -- 489 -- 282 388 Sale Of Business
-- -- -- -3,958 -1,351 -- -- -- -39.60 -- -- -- -- -- -- -61.00 -27.80 Purchase Of Investment
69.50 230 12.20 4,078 1,352 29.70 91.90 413 -- -- -- -- -- -- -- 52.20 29.90 Sale Of Investment
-- -- -- -- -- -- -- -18.00 -62.50 -4.80 -- -- -10.40 -- -- -- -- Net Intangibles Purchase And Sale
776 84.90 431 662 32.10 2,252 -3.30 255 -1.00 -36.10 -70.50 -176 2,379 -124 -- -- -- Cash From Discontinued Investing
Activities
-0.10 272 487 85.10 1.50 -27.80 34.80 18.00 0.00 0.00 0.00 -0.10 10.70 5.30 4.50 11.10 -1.20 Cash From Other Investing Activities
684 296 697 523 -644 1,791 -355 88.90 -1,064 -5,466 -532 -41.60 2,127 -184 -576 -5,166 -3.70 Cash Flow from Investing
118 104 18.90 63.80 37.50 -- -- -- -- 269 -- -- 8.60 -- -- 556 -- Issuance of Stock
-419 -181 -197 -615 -188 -900 -100.00 -825 -352 -245 -100.00 -50.00 -- -1,000 -967 -- -- Repurchase of Stock
-486 -1,182 -897 -54.40 491 -564 -15.80 -294 -324 4,289 -612 -1,079 -2,514 -1,050 807 4,061 -1,123 Net Issuance of Debt
-537 -550 -565 -367 -362 -348 -347 -375 -389 -401 -421 -425 -433 -415 -342 -356 -397 Cash Flow for Dividends
-21.30 -0.70 0.80 -90.60 37.40 -14.90 58.00 61.70 215 221 99.10 99.80 204 896 -4.10 -110 -19.10 Other Financing
-1,345 -1,811 -1,640 -1,063 -21.80 -1,827 -405 -1,432 -850 4,133 -1,034 -1,454 -2,733 -1,569 -507 4,150 -1,538 Cash Flow from Financing
-79.50 -401 124 404 -564 71.50 710 19.20 -869 80.90 -0.80 -0.00 651 -583 -123 109 -250 Net Change in Cash
-226 -382 -263 -518 -489 -430 -482 -484 -398 -427 -461 -237 -278 -242 -252 -353 -404 Capital Expenditure
355 731 804 425 -396 -306 990 868 654 985 1,108 1,268 982 928 703 772 888 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CAG 5/7
Valuation Ratios
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
13.68 16.54 17.25 13.05 9.61 6.79 11.62 10.47 17.63 14.10 35.90 -- -- 26.22 18.72 17.61 16.76 PE Ratio(TTM)
12.78 21.35 12.05 11.03 23.65 6.15 8.29 8.71 13.47 11.58 38.90 -- -- 19.97 16.81 14.66 13.77 Price to Owner Earnings
(TTM)
2.38 2.17 1.93 2.12 1.67 1.35 1.69 1.74 1.80 2.09 2.02 2.84 4.19 4.02 3.94 1.76 1.77 Price to Book
63.98 17.38 22.18 24.11 8.54 15.88 16.67 65.53 -- -- -- -- -- -- -- -- -- Price to Tangible Book
32.75 14.59 11.39 22.88 -- -- 8.50 9.77 12.52 11.19 9.70 10.24 15.93 18.09 21.45 16.41 15.13 Price-to-Free-Cash-Flow
Ratio
20.04 9.55 8.58 10.45 92.68 44.94 5.72 6.30 7.78 7.79 6.85 8.62 12.42 14.35 15.79 11.09 10.40 Price-to-Operating-Cash-
Flow Ratio
1.07 0.77 0.89 0.95 0.84 0.53 0.70 0.69 0.61 0.81 0.91 1.43 1.66 2.15 1.90 1.26 1.27 PS Ratio
-- -- -- -- -- -- 1.64 0.66 1.29 1.27 20.41 -- -- -- -- 24.65 6.33 PEG Ratio
1.51 1.07 1.19 1.18 1.19 0.78 0.90 0.84 0.82 1.52 1.65 2.29 2.16 2.41 2.30 2.47 2.26 EV-to-Revenue
12.14 9.83 12.25 9.92 12.63 6.85 6.58 5.75 9.14 11.92 12.36 17.28 25.99 15.78 14.10 15.14 12.86 EV-to-EBITDA
15.15 12.14 17.51 13.54 17.88 8.77 8.19 7.19 13.26 15.75 16.95 22.66 40.38 20.33 17.60 19.27 16.26 EV-to-EBIT
6.60 8.24 5.71 7.39 5.59 11.40 12.21 13.91 7.54 6.35 5.90 4.41 2.48 4.92 5.68 5.19 6.15 Return on Capital %
2.12 -1.55 -1.96 -4.93 -3.25 0.84 10.85 19.75 19.25 16.85 11.08 4.84 -4.37 -6.39 -3.00 9.31 14.24 Forward Rate of Return
17.38 15.82 12.66 14.14 12.39 9.08 11.19 11.20 11.37 14.85 15.08 20.75 30.25 33.11 31.62 24.42 25.66 Shiller PE Ratio
4.70 5.30 5.68 3.63 4.09 5.25 4.20 4.50 4.85 3.78 3.98 3.33 2.81 2.34 2.29 3.18 3.07 Dividend Yield %
Valuation and Quality
May04 May05 May06 May07 May08 May09 May10 May11 May12 May13 May14 May15 May16 May17 May18 May19 TTM Fiscal Period
11,404 10,543 8,986 9,717 8,888 6,391 8,324 8,124 7,977 10,998 10,603 12,863 15,578 16,053 14,484 13,012 13,451 Market Cap
16,489 14,811 12,240 12,444 12,749 9,631 10,863 10,392 10,907 20,503 19,505 20,687 20,315 18,885 18,252 23,532 23,807 Enterprise Value
21.88 20.35 17.59 19.84 18.35 14.47 18.82 19.79 19.57 26.22 25.13 30.04 35.56 38.54 37.06 26.77 27.63 Month End Stock Price
-16.92 -15.39 -13.68 -13.32 -16.94 -13.83 -13.25 -14.05 -16.93 -35.66 -32.99 -29.77 -20.27 -14.05 -16.85 -30.02 -30.17 Net Cash (per share)
-8.21 -6.58 -4.95 -4.59 -4.67 -6.83 -6.45 -6.92 -9.28 -25.65 -23.30 -21.83 -13.93 -9.82 -12.22 -24.88 -24.34 Net Current Asset Value
(per share)
-12.54 -11.49 -9.87 -10.40 -14.95 -11.77 -9.99 -10.29 -12.93 -30.58 -28.65 -26.56 -17.96 -11.93 -14.49 -27.12 -26.89 Net-Net Working Capital (per
share)
15.24 15.96 17.73 21.32 15.87 14.16 16.71 19.04 18.26 21.15 25.78 29.90 27.82 29.70 31.34 31.15 31.20 Projected FCF (per share)
7.86 10.80 9.16 10.17 11.84 17.31 18.26 19.82 22.25 23.18 19.88 15.06 16.03 13.40 14.64 18.66 23.78 Median PS (per share)
-- -- -- -- -- -- 11.50 29.91 15.15 20.65 -- -- -- -- -- -- 11.45 Peter Lynch Fair Value (per
share)
3.43 5.69 3.98 4.19 7.16 5.28 6.49 3.59 -- -- -- -- -- -- -- -- -- Graham Number (per share)
41.83 40.91 35.53 29.57 20.60 4.58 6.53 9.76 9.44 -2.99 -25.41 -23.87 -18.24 -10.75 -11.58 -5.88 -4.62 Earnings Power Value
(EPV)
2.10 2.57 2.27 2.46 2.11 2.76 2.85 2.99 2.78 1.72 1.73 1.66 2.23 3.30 3.00 1.49 1.55 Altman Z-Score
6.00 6.00 6.00 8.00 6.00 5.00 6.00 6.00 6.00 6.00 5.00 4.00 6.00 8.00 6.00 5.00 4.00 Piotroski F-Score
-1.27 -2.57 -2.94 -2.88 -3.03 -1.80 -2.91 -2.64 -2.58 -2.36 -2.92 -3.23 -3.42 -2.77 -2.61 -2.09 -2.49 Beneish M-Score
0.66 0.64 0.61 0.61 0.78 0.58 0.67 0.59 0.65 1.29 0.69 0.64 0.49 0.51 0.74 1.72 0.80 Scaled Net Operating
Assets
-3.19 -5.89 -10.28 -5.93 10.83 -8.46 -3.34 -5.47 4.20 23.66 -3.80 -9.84 -30.35 -3.44 4.14 21.24 -2.15 Sloan Ratio (%)
1.71 1.81 1.62 1.87 1.67 2.12 1.94 1.83 1.45 1.29 1.60 1.08 1.41 1.17 0.83 1.28 0.88 Current Ratio
0.85 0.99 0.90 1.26 1.14 0.96 1.16 0.99 0.61 0.60 0.82 0.58 1.00 0.63 0.41 0.54 0.37 Quick Ratio
22.83 23.34 20.26 21.41 21.34 18.68 20.45 19.91 21.15 28.14 28.97 30.27 36.13 41.50 39.95 38.94 35.59 Highest Stock Price
16.46 19.91 15.17 16.54 16.34 10.74 14.40 16.45 17.68 18.53 21.99 22.36 29.12 33.23 32.43 20.85 22.15 Lowest Stock Price
2.90 0.59 1.40 4.13 1.10 8.82 -0.14 7.18 0.70 -2.91 -0.58 -1.49 -2.30 4.92 6.17 -24.37 -0.24 Shares Buyback Ratio (%)
-33.89 5.93 -9.37 5.15 13.26 15.92 -1.59 6.13 11.75 1.20 -14.14 -24.36 -5.67 -9.14 8.54 9.86 7.01 YoY Rev. per Sh. Growth
(%)
6.25 -19.61 -16.26 46.60 25.83 13.16 -24.65 16.05 -40.43 65.18 -62.16 -186 -162 193 35.62 -23.23 -10.33 YoY EPS Growth (%)
-26.70 4.88 -28.30 28.48 2.46 21.75 19.51 12.65 -31.42 44.41 -14.54 -21.07 -43.83 75.85 15.74 9.82 34.04 YoY EBITDA Growth (%)
-4.32 -8.75 -12.12 -12.09 -7.73 -3.08 6.93 15.74 13.90 11.10 2.28 -2.77 -10.99 -12.64 -9.56 0.71 2.70 EBITDA 5-Y Growth (%)
527 517 518 503 488 453 444 430 413 411 421 426 434 432 404 444 487 Shares Outstanding (Basic
Average)
521 518 511 490 484 442 442 410 408 419 422 428 438 417 391 486 487 Shares Outstanding (EOP)
0.30 0.40 0.67 0.58 0.37 0.82 0.78 0.78 0.49 0.53 0.47 0.43 0.25 0.27 0.39 1.42 1.41 Beta
08/05/04 08/12/05 07/28/06 07/25/07 07/23/08 07/24/09 07/22/10 07/19/11 07/20/12 07/19/13 07/16/14 07/17/15 07/15/16 07/21/17 07/20/18 07/19/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CAG 6/7
08/12/05 07/28/06 07/25/07 07/23/08 07/24/09 07/22/10 07/19/11 07/19/13 07/16/14 07/17/15 07/15/16 07/21/17 07/20/18 07/19/19 07/19/19 07/19/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CAG 7/7
HCA Healthcare Inc (NYSE:HCA) 03/03/2020 2:00PM EST GuruFocus
Price: $ 127.95 -7.10(-5.26%) Market Cap: $ 43.3 B Enterprise Value: $80.49 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 12.71
Cash to Debt 0.02 Operating margin (%) 14.06
Forward P/E N/A
Equity to Asset -0.06 Net-margin (%) 6.83
PE(NRI) 12.71
Interest Coverage 3.96 ROA (%) 8.08
F-Score:
P/S 0.88
ROC (Joel Greenblatt) (%) 26.95
8 PFCF 12.92
Z-Score: Revenue Growth (3Y)(%) 12.00
2.28 POCF 5.84
EBITDA Growth (3Y)(%) 9.00
WACC vs 7.29% EV-to-EBIT 11.39
ROIC 17.35% EPS Growth (3Y)(%) 11.30
WACC PEG 1.08
ROIC
Shiller P/E 20.79
Current Ratio 1.44
Quick Ratio 1.20
Days Inventory 20.40
Days Sales Outstanding 52.47
Warning Signs Quarterly Revenues Company Description
Interest Coverage: Low Mar Jun Sep Dec Full Year HCA Healthcare is a Nashville-based healthcare provider organization operating the largest collection of acute-care
hospitals in the U.S. The firm owns and operates 179 hospitals and 120 outpatient surgery centers with more than
2016 10,260 10,319 10,270 10,641 41,490 1,800 alternate site locations including physician offices, urgent care clinics, and freestanding emergency rooms
Price: Close to 10-year high
2017 10,623 10,733 10,696 11,562 43,614 across 20 states and a small foothold in England.... (Read More)
, , , , , , ,
Insider Sell: Insider Selling 2018 11,423 11,529 11,451 12,274 46,677 Competitors: XTER:FRE XTER:FME SZSE:300015 NYSE:UHS BKK:BDMS XKLS:5225 NYSE:DVA
ASX:RHC, ASX:SHL, BSP:HAPV3, XPAR:ORP, HKSE:00708, NYSE:EHC, NYSE:CHE, SZSE:002044, NAS:AMED,
2019 12,517 12,602 12,694 13,523 51,336 NZSE:RYM, NAS:LHCG, SHSE:600763, XPAR:KORI
2020
Good Signs Insider Trades
Quarterly Earnings per Share
Piotroski F-Score: High
Mar Jun Sep Dec Full Year
Revenue per Share: 2016 1.69 1.65 1.59 2.39 7.32
Consistent growth 2017 1.74 1.75 1.15 1.30 5.94
Dividend Yield %: Close to 3- 2018 3.18 2.31 2.15 3.01 10.65
year high 2019 2.97 2.25 1.76 3.09 10.07
2020
DCF Quarterly Dividends Per Share
EPS without NRI: $10.07 Mar Jun Sep Dec Full Year
Growth Rate in the next 10 2016 0.00 0.00 0.00 0.00 0.00
years: 14.50% 2017 0.00 0.00 0.00 0.00 0.00
Terminal Growth Rate for 10 2018 0.35 0.35 0.35 0.35 1.40
years: 4% 2019 0.40 0.40 0.40 0.40 1.60
Fair Value: $199.37 2020
Growth Rate
Reverse DCF Annual Rates(per share) 10-Y 5-Y 12-M
Expected eps Growth Rate: Revenue Growth (%) 9.20 12.40 12.20
7.69% EBITDA Growth (%) 8.70 12.40 5.30
Free Cash Flow Growth (%) 10.40 14.40 10.20
Book Value Growth (%) 5.80 13.20 0.00
EPS Growth (%) 14.50 20.40 -5.50
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HCA 1/6
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
48.59 54.65 62.11 61.41 64.88 69.53 64.10 59.85 71.86 74.00 81.98 92.98 105 117 131 147 147 Revenue per Share
7.83 9.34 9.77 11.05 10.53 12.53 13.15 14.24 13.87 14.17 15.64 17.64 21.43 22.04 26.37 27.75 27.75 EBITDA per Share
5.24 6.27 6.38 7.79 7.30 9.23 9.90 11.29 10.21 10.38 11.60 13.18 16.46 16.31 19.96 20.30 20.30 EBIT per Share
2.58 3.18 2.53 2.00 1.54 2.44 2.76 4.97 3.49 3.37 4.16 4.99 7.30 5.95 10.66 10.07 10.07 Earnings per Share (diluted)
2.58 3.19 2.53 2.00 1.54 2.44 2.76 4.97 3.49 3.37 4.16 4.99 7.30 5.95 10.66 10.07 10.07 eps without NRI
-3.19 -1.91 -4.81 -6.23 -6.93 -4.51 2.51 5.51 4.65 3.52 4.03 4.36 7.96 6.29 10.48 9.95 9.95 Owner Earnings per Share (TTM)
2.98 3.08 -0.05 -0.11 0.89 3.31 4.02 4.55 5.04 3.76 5.05 5.53 7.31 6.48 8.97 9.89 9.91 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 1.40 1.60 1.60 Dividends per Share
9.11 10.87 -27.73 -24.10 -23.45 -20.79 -23.15 -18.88 -21.80 -18.81 -18.77 -19.06 -19.71 -19.44 -14.44 -8.28 -8.28 Book Value per Share
3.86 5.00 -34.07 -30.11 -29.35 -26.75 -28.38 -30.88 -34.29 -32.24 -34.03 -35.94 -37.80 -40.56 -37.63 -32.66 -32.66 Tangible Book per Share
21.77 23.41 69.25 62.44 61.71 59.39 54.78 61.84 65.28 64.55 69.98 76.46 84.68 94.43 95.72 105 105 Total Debt per Share
-- -- -- -- -- -- -- 22.03 30.17 47.71 73.39 67.63 74.02 87.84 124 148 128 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
23.47 30.72 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Return on Equity %
5.81 6.46 4.51 3.66 2.79 4.35 5.03 9.71 5.84 5.47 6.27 6.68 8.69 6.30 9.99 8.32 8.08 Return on Assets %
19.21 21.50 19.55 24.72 23.15 28.41 30.47 37.66 30.22 30.11 30.81 31.41 34.85 30.09 32.32 27.96 26.95 Return on Capital %
11.08 12.29 10.67 12.53 13.09 15.07 17.07 18.88 16.88 15.87 17.48 17.65 18.12 14.47 19.26 17.89 17.35 Return on Invested Capital %
-- -- -- -- -- -- -- -- -- 8.64 7.08 4.66 -- 3.66 7.56 7.91 7.29 Weighted Average Cost Of Capital (WACC) %
5.85 6.24 4.91 7.95 7.44 7.55 7.78 7.37 6.42 6.45 6.03 5.56 5.52 5.25 5.33 5.33 5.12 Effective Interest Rate on Debt %
83.40 83.13 83.04 83.64 83.72 83.80 37.77 37.27 36.98 36.76 37.96 37.62 37.74 37.23 37.55 37.59 37.59 Gross Margin %
11.56 11.87 11.13 10.99 10.34 12.65 14.86 14.61 14.59 14.02 15.07 15.03 14.94 13.89 14.23 14.06 14.06 Operating Margin %
5.30 5.82 4.07 3.25 2.37 3.51 4.31 8.30 4.86 4.55 5.08 5.37 6.97 5.08 8.11 6.83 6.83 Net Margin %
6.13 5.64 -0.08 -0.18 1.37 4.76 6.28 7.59 7.01 5.08 6.15 5.95 6.97 5.53 6.83 6.71 6.71 FCF Margin %
2.39 2.15 -2.50 -2.59 -2.63 -2.86 -2.37 -3.28 -3.00 -3.43 -3.73 -4.01 -4.30 -4.86 -6.63 -12.67 -12.67 Debt to Equity
0.20 0.22 -0.48 -0.44 -0.42 -0.37 -0.50 -0.31 -0.34 -0.29 -0.26 -0.23 -0.22 -0.19 -0.13 -0.06 -0.06 Total Equity to Total Asset
0.48 0.47 1.20 1.14 1.11 1.06 1.18 1.01 1.03 0.98 0.95 0.93 0.93 0.90 0.84 0.79 0.79 Total Debt to Total Asset
91.37 92.27 92.18 94.18 98.35 104 44.14 43.60 44.41 44.16 46.86 46.84 47.10 46.17 46.25 45.80 44.46 Gross Profit to Total Asset %
1.10 1.11 1.11 1.13 1.18 1.24 1.17 1.17 1.20 1.20 1.23 1.25 1.25 1.24 1.23 1.22 1.18 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.13 0.16 0.16 Dividend Payout Ratio
47.88 49.73 53.08 52.93 48.63 44.84 49.89 55.74 51.65 55.61 56.30 54.17 51.25 54.41 53.09 52.47 52.47 Days Sales Outstanding
115 131 120 114 108 109 32.16 31.31 31.02 30.44 32.43 32.00 32.76 34.75 32.27 33.09 33.09 Days Accounts Payable
51.32 52.77 54.26 57.26 57.16 57.70 17.77 19.12 18.77 19.12 19.59 20.04 20.79 20.51 20.69 20.40 20.40 Days Inventory
-15.89 -28.78 -12.16 -3.59 -2.45 -6.93 35.50 43.55 39.40 44.29 43.46 42.21 39.28 40.17 41.51 39.78 39.78 Cash Conversion Cycle
7.11 6.92 6.73 6.37 6.39 6.33 20.54 19.09 19.44 19.09 18.64 18.21 17.56 17.80 17.64 17.90 17.89 Inventory Turnover
0.17 0.17 0.17 0.16 0.16 0.16 0.62 0.63 0.63 0.63 0.62 0.62 0.62 0.63 0.62 0.62 0.62 COGS to Revenue
0.02 0.02 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.04 0.04 0.04 0.04 0.04 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HCA 2/6
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
23,502 24,455 25,477 26,858 28,374 30,052 28,035 29,682 33,013 34,182 36,918 39,678 41,490 43,614 46,677 51,336 51,336 Revenue
3,901 4,126 4,322 4,395 4,620 4,868 17,445 18,619 20,806 21,616 22,903 24,753 25,830 27,375 29,149 32,041 32,041 Cost of Goods Sold
19,601 20,329 21,155 22,463 23,754 25,184 10,590 11,063 12,207 12,566 14,015 14,925 15,660 16,239 17,528 19,295 19,295 Gross Profit
83.40 83.13 83.04 83.64 83.72 83.80 37.77 37.27 36.98 36.76 37.96 37.62 37.74 37.23 37.55 37.59 37.59 Gross Margin %
9,419 9,928 10,409 10,714 11,440 11,958 12,484 13,440 -- -- -- -- -- -- -- -- -- Selling, General, & Admin. Expense
7,466 7,497 7,910 8,797 9,379 9,425 -6,059 -6,715 7,391 7,774 8,450 8,960 9,462 10,182 10,886 12,077 12,077 Other Operating Expense
2,716 2,904 2,836 2,952 2,935 3,801 4,165 4,338 4,816 4,792 5,565 5,965 6,198 6,057 6,642 7,218 7,218 Operating Income
11.56 11.87 11.13 10.99 10.34 12.65 14.86 14.61 14.59 14.02 15.07 15.03 14.94 13.89 14.23 14.06 14.06 Operating Margin %
-563 -655 -955 -2,215 -2,021 -1,987 -2,097 -2,037 -1,798 -1,848 -1,743 -1,665 -1,707 -1,690 -1,755 -1,824 -1,824 Interest Expense
-563 -655 -955 -2,215 -2,021 -1,987 -2,097 -2,037 -1,798 -1,848 -1,743 -1,665 -1,707 -1,690 -1,755 -1,824 -1,824 Net Interest Income
-180 -100.00 -219 453 256 188 163 1,260 -124 2.00 -341 -343 319 14.00 448 -150 -150 Other Income (Expense)
-168 -- -- -- -229 -321 -366 -377 -401 -440 -498 -567 -542 -527 -602 -640 -640 Other Income (Minority Interest)
1,973 2,149 1,662 1,190 1,170 2,002 2,231 3,561 2,894 2,946 3,481 3,957 4,810 4,381 5,335 5,244 5,244 Pre-Tax Income
-727 -725 -626 -316 -268 -627 -658 -719 -888 -950 -1,108 -1,261 -1,378 -1,638 -946 -1,099 -1,099 Tax Provision
36.85 33.74 37.67 26.55 22.91 31.32 29.49 20.19 30.68 32.25 31.83 31.87 28.65 37.39 17.73 20.96 20.96 Tax Rate %
1,246 1,424 1,036 874 902 1,375 1,573 2,842 2,006 1,996 2,373 2,696 3,432 2,743 4,389 4,145 4,145 Net Income (Continuing Operations)
1,246 1,424 1,036 874 673 1,054 1,207 2,465 1,605 1,556 1,875 2,129 2,890 2,216 3,787 3,505 3,505 Net Income
5.30 5.82 4.07 3.25 2.37 3.51 4.31 8.30 4.86 4.55 5.08 5.37 6.97 5.08 8.11 6.83 6.83 Net Margin %
2.62 3.24 2.57 2.05 1.58 2.48 2.83 5.17 3.65 3.50 4.30 5.14 7.53 6.12 10.90 10.27 10.28 EPS (Basic)
2.58 3.18 2.53 2.00 1.54 2.44 2.76 4.97 3.49 3.37 4.16 4.99 7.30 5.95 10.66 10.07 10.07 EPS (Diluted)
484 448 410 437 437 432 437 496 459 462 450 427 396 372 355 348 347 Shares Outstanding (Diluted
Average)
1,250 1,374 1,391 1,426 1,416 1,425 1,421 1,465 1,679 1,753 1,820 1,904 1,966 2,131 2,278 2,596 2,596 Depreciation, Depletion and
Amortization
3,786 4,178 4,008 4,831 4,607 5,414 5,749 7,063 6,371 6,547 7,044 7,526 8,483 8,202 9,368 9,664 9,664 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HCA 3/6
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
258 336 634 393 465 312 411 373 705 414 566 741 646 732 502 621 621 Cash And Cash Equivalents
258 336 634 393 465 312 411 373 705 414 566 741 646 732 502 621 621 Cash, Cash Equivalents, Marketable
Securities
3,083 3,332 3,705 3,895 3,780 3,692 3,832 4,533 4,672 5,208 5,694 5,889 5,826 6,501 6,789 7,380 7,380 Accounts Receivable
577 616 669 710 737 802 897 1,054 1,086 1,179 1,279 1,439 1,503 1,573 1,732 1,849 1,849 Inventories, Other
577 616 669 710 737 802 897 1,054 1,086 1,179 1,279 1,439 1,503 1,573 1,732 1,849 1,849 Total Inventories
1,140 931 1,070 1,207 1,319 1,771 1,779 1,273 1,300 1,236 1,391 1,163 1,111 1,171 1,190 1,346 1,346 Other Current Assets
5,058 5,215 6,078 6,205 6,301 6,577 6,919 7,233 7,763 8,037 8,930 9,232 9,086 9,977 10,213 11,196 11,196 Total Current Assets
2,533 2,761 2,565 2,357 2,264 2,019 1,511 649 619 569 659 610 542 617 594 564 564 Investments And Advances
1,185 1,212 1,238 1,240 1,189 1,202 1,215 1,416 1,429 1,487 1,524 1,524 1,611 1,746 1,944 2,178 2,178 Land And Improvements
7,981 8,063 8,178 8,518 8,670 9,108 9,438 10,231 10,720 11,211 11,941 12,533 13,546 14,249 15,659 17,669 17,669 Buildings And Improvements
10,127 10,594 11,170 12,088 12,833 13,575 14,310 15,431 16,430 17,519 18,496 19,335 20,580 22,168 23,577 25,756 25,756 Machinery, Furniture, Equipment
677 949 1,321 733 1,022 784 678 997 948 856 1,019 1,222 1,318 1,921 1,785 1,632 1,632 Construction In Progress
19,970 20,818 21,907 22,579 23,714 24,669 25,641 28,075 29,527 31,073 32,980 34,614 37,055 40,084 42,965 49,069 49,069 Gross Property, Plant and Equipment
-8,574 -9,439 -10,238 -11,137 -12,185 -13,242 -14,289 -15,241 -16,342 -17,454 -18,625 -19,600 -20,703 -22,189 -23,208 -24,520 -24,520 Accumulated Depreciation
11,396 11,379 11,669 11,442 11,529 11,427 11,352 12,834 13,185 13,619 14,355 15,014 16,352 17,895 19,757 24,549 24,549 Property, Plant and Equipment
2,540 2,626 2,601 2,629 2,580 2,577 2,693 5,251 5,539 5,903 6,416 6,731 6,704 7,394 7,953 8,269 8,269 Intangible Assets
2,540 2,626 2,601 2,629 2,580 2,577 2,693 -- -- -- -- -- -- -- -- -- -- Goodwill
313 244 762 1,392 1,606 1,531 1,377 931 969 703 620 1,157 1,074 710 690 480 480 Other Long Term Assets
21,840 22,225 23,675 24,025 24,280 24,131 23,852 26,898 28,075 28,831 30,980 32,744 33,758 36,593 39,207 45,058 45,058 Total Assets
1,230 1,484 1,415 1,370 1,370 1,460 1,537 1,597 1,768 1,803 2,035 2,170 2,318 2,606 2,577 2,905 2,905 Accounts Payable
-- -- -- -- -- -- -- 232 235 252 255 277 283 299 308 325 325 Total Tax Payable
3,063 3,309 3,283 3,541 3,506 3,467 3,677 4,147 4,737 4,909 5,142 5,283 5,618 5,891 6,322 6,734 6,734 Accounts Payable & Accrued
Expense
486 586 293 308 404 846 592 1,407 1,435 786 338 233 216 200 788 495 495 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- 67.00 459 528 528 Other Current Liabilities
3,549 3,895 3,576 3,849 3,910 4,313 4,269 5,554 6,172 5,695 5,480 5,516 5,834 6,158 7,569 7,757 7,757 Total Current Liabilities
10,044 9,889 28,115 27,000 26,585 24,824 27,633 25,645 27,495 27,590 29,088 30,255 31,160 32,858 32,033 33,577 33,577 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 1,499 1,499 Capital Lease Obligation
10,044 9,889 28,115 27,000 26,585 24,824 27,633 25,645 27,495 27,590 29,088 30,255 31,160 32,858 32,033 35,076 35,076 Long-Term Debt & Capital Lease
Obligation
2.39 2.15 -2.50 -2.59 -2.63 -2.86 -2.37 -3.28 -3.00 -3.43 -3.73 -4.01 -4.30 -4.86 -6.63 -12.67 -12.67 Debt to Equity
1,748 1,414 1,017 1,379 1,782 1,768 1,608 -- -- -- -- -- -- -- -- -- -- NonCurrent Deferred Liabilities
809 828 907 938 995 1,008 1,132 1,244 1,319 1,342 1,396 1,553 1,669 1,811 2,032 2,243 2,243 Minority Interest
1,283 1,336 1,434 1,397 1,263 1,204 1,136 2,713 2,749 2,474 2,910 3,019 2,397 2,572 2,523 2,790 2,790 Other Long-Term Liabilities
16,624 16,534 34,142 33,625 33,540 32,109 34,646 33,912 36,416 35,759 37,478 38,790 39,391 41,588 42,125 45,623 45,623 Total Liabilities
4.00 4.00 1.00 1.00 1.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.00 3.00 3.00 Common Stock
4,210 4,729 -11,391 -10,479 -9,817 -8,763 -11,888 -9,423 -10,960 -9,403 -7,575 -7,338 -6,968 -6,532 -4,572 -2,351 -2,351 Retained Earnings
193 130 16.00 -172 -604 -450 -428 -440 -457 -257 -323 -265 -338 -278 -381 -460 -460 Accumulated other comprehensive
income (loss)
-- -- -- 112 165 223 386 1,601 1,753 1,386 -- -- -- -- -- -- -- Additional Paid-In Capital
4,407 4,863 -11,374 -10,538 -10,255 -8,986 -11,926 -8,258 -9,660 -8,270 -7,894 -7,599 -7,302 -6,806 -4,950 -2,808 -2,808 Total Equity
0.20 0.22 -0.48 -0.44 -0.42 -0.37 -0.50 -0.31 -0.34 -0.29 -0.26 -0.23 -0.22 -0.19 -0.13 -0.06 -0.06 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HCA 4/6
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,246 1,424 1,036 874 902 1,375 1,573 2,842 2,006 1,996 2,373 2,696 3,432 2,743 4,389 4,145 4,145 Net Income
1,246 1,424 1,036 874 902 1,375 1,573 2,842 2,006 1,996 2,373 2,696 3,432 2,743 4,389 4,145 4,145 Net Income From Continuing
Operations
1,250 1,374 1,391 1,426 1,416 1,425 1,421 1,465 1,679 1,753 1,820 1,904 1,966 2,131 2,278 2,596 2,596 Depreciation, Depletion and
Amortization
-2,648 -2,649 -3,043 -3,345 -3,328 -3,180 -2,789 -3,248 -3,896 -4,395 -3,645 -4,114 10.00 -601 -423 -326 -326 Change In Receivables
-179 28.00 -12.00 -241 159 -191 -287 -18.00 -122 -19.00 -232 -314 -112 -69.00 -242 -158 -158 Change In Inventory
157 343 115 -29.00 -198 280 229 313 355 142 444 192 144 374 698 396 396 Change In Payables And Accrued
Expense
-2,670 -2,278 -2,940 -3,615 -3,367 -3,091 -199 -129 107 -414 -264 -323 42.00 -296 33.00 -88.00 -88.00 Change In Working Capital
-- -- -- -- -- -- 27.00 912 96.00 143 -83.00 -160 123 433 74.00 250 250 Change In DeferredTax
-- 30.00 324 24.00 32.00 40.00 32.00 26.00 56.00 113 163 239 251 270 268 347 347 Stock Based Compensation
3,116 2,421 2,010 2,663 2,943 2,955 108 -1,183 231 89.00 439 378 -161 145 -281 352 352 Cash Flow from Others
2,954 2,971 1,845 1,396 1,990 2,747 3,085 3,933 4,175 3,680 4,448 4,734 5,653 5,426 6,761 7,602 7,602 Cash Flow from Operations
-1,513 -1,592 -1,865 -1,444 -1,600 -1,317 -1,325 -1,679 -1,862 -1,943 -2,176 -2,375 -2,760 -3,015 -3,573 -4,158 -4,158 Purchase Of Property, Plant,
Equipment
-44.00 -126 -112 -32.00 -85.00 -61.00 -233 -1,682 -258 -481 -766 -351 -576 -1,212 -1,253 -1,682 -1,682 Purchase Of Business
48.00 320 651 767 193 41.00 37.00 281 30.00 33.00 51.00 73.00 26.00 25.00 808 61.00 61.00 Sale Of Business
-179 -283 19.00 230 25.00 302 482 85.00 27.00 45.00 -27.00 70.00 70.00 -77.00 117 59.00 59.00 Cash From Other Investing Activities
-1,688 -1,681 -1,307 -479 -1,467 -1,035 -1,039 -2,995 -2,063 -2,346 -2,918 -2,583 -3,240 -4,279 -3,901 -5,720 -5,720 Cash Flow from Investing
224 1,009 108 100.00 -- -- -- 2,506 -- -- -- -- -- -- -- -- -- Issuance of Stock
-3,109 -1,856 -21,017 -- -- -- -- -1,503 -- -500 -1,750 -2,397 -2,751 -2,051 -1,530 -1,031 -1,031 Repurchase of Stock
1,778 -106 17,595 -1,270 -260 -1,459 2,533 -1,589 1,724 -692 778 778 815 1,509 -344 567 567 Net Issuance of Debt
-199 -258 -201 -- -- -- -4,257 -31.00 -3,148 -16.00 -7.00 -- -- -- -487 -550 -550 Cash Flow for Dividends
-41.00 -1.00 3,275 12.00 -191 -406 -223 -359 -356 -417 -399 -357 -572 -519 -714 -757 -757 Other Financing
-1,347 -1,212 -240 -1,158 -451 -1,865 -1,947 -976 -1,780 -1,625 -1,378 -1,976 -2,508 -1,061 -3,075 -1,771 -1,771 Cash Flow from Financing
-81.00 78.00 298 -241 72.00 -153 99.00 -38.00 332 -291 152 175 -95.00 86.00 -230 119 119 Net Change in Cash
-1,513 -1,592 -1,865 -1,444 -1,600 -1,317 -1,325 -1,679 -1,862 -1,943 -2,176 -2,375 -2,760 -3,015 -3,573 -4,158 -4,158 Capital Expenditure
1,441 1,379 -20.00 -48.00 390 1,430 1,760 2,254 2,313 1,737 2,272 2,359 2,893 2,411 3,188 3,444 3,444 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HCA 5/6
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- 4.41 8.64 14.20 17.56 13.55 10.11 14.79 11.69 14.68 12.71 PE Ratio(TTM)
-- -- -- -- -- -- -- 4.00 6.49 13.55 18.21 15.50 9.30 13.96 11.88 14.86 12.88 Price to Owner Earnings
(TTM)
-- -- -- -- -- -- -- 4.70 5.99 12.67 14.47 12.21 10.15 13.57 13.85 14.92 12.92 Price-to-Free-Cash-Flow
Ratio
-- -- -- -- -- -- -- 2.72 3.32 5.98 7.40 6.08 5.17 6.02 6.53 6.76 5.84 Price-to-Operating-Cash-
Flow Ratio
-- -- -- -- -- -- -- 0.36 0.42 0.64 0.89 0.73 0.71 0.75 0.95 1.00 0.88 PS Ratio
-- -- -- -- -- -- -- 0.72 1.07 2.49 4.21 2.35 1.66 1.19 0.86 1.18 1.08 PEG Ratio
-- -- -- -- -- -- -- 1.24 1.30 1.47 1.66 1.47 1.44 1.49 1.65 1.70 1.58 EV-to-Revenue
-- -- -- -- -- -- -- 5.32 6.74 7.68 8.68 7.74 7.05 7.91 8.22 9.04 8.34 EV-to-EBITDA
-- -- -- -- -- -- -- 6.71 9.15 10.49 11.70 10.36 9.18 10.69 10.86 12.36 11.39 EV-to-EBIT
-- -- -- -- -- -- -- 14.90 10.93 9.53 8.55 9.65 10.89 9.35 9.21 8.09 8.78 Return on Capital %
-- -- -- -- -- -- -- 17.05 19.29 14.09 10.05 12.60 13.47 18.82 18.87 17.67 18.16 Forward Rate of Return
-- -- -- -- -- -- -- 7.63 9.78 15.17 22.66 20.01 19.07 20.17 23.36 24.01 20.79 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 1.12 1.08 1.29 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
Market Cap
-- -- -- -- -- -- -- 9,638 13,371 20,974 30,859 26,967 27,427 30,752 42,673 50,134 43,302
-- -- -- -- -- -- -- 37,561 42,915 50,278 61,115 58,267 59,826 64,889 77,024 87,327 80,495 Enterprise Value
-- -- -- -- -- -- -- 22.03 30.17 47.71 73.39 67.63 74.02 87.84 124 148 128 Month End Stock Price
-35.51 -38.05 -83.90 -78.13 -77.90 -75.90 -68.65 -79.51 -83.55 -83.45 -91.11 -99.32 -109 -122 -127 -139 -139 Net Cash (per share)
-25.59 -27.14 -70.63 -64.84 -64.56 -61.40 -56.01 -63.83 -67.63 -66.11 -71.21 -78.02 -86.29 -95.47 -98.99 -108 -108 Net Current Asset Value
(per share)
-30.13 -31.77 -76.31 -70.64 -70.58 -68.56 -62.20 -70.53 -74.42 -73.23 -79.43 -86.44 -95.25 -106 -110 -120 -120 Net-Net Working Capital (per
share)
22.24 32.71 -9.42 -7.92 -13.30 -5.72 -15.46 -2.58 1.68 11.66 21.90 37.48 58.85 66.75 86.79 108 108 Projected FCF (per share)
64.50 61.81 27.79 23.55 12.27 33.01 20.84 30.49 28.06 19.19 -- 28.79 44.65 73.66 144 126 126 Peter Lynch Fair Value (per
share)
14.97 18.94 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Graham Number (per share)
70.98 24.27 -13.01 -5.77 -2.63 7.66 10.95 27.10 21.15 19.64 10.56 -1.68 -19.51 -28.06 -24.45 -31.41 -31.41 Earnings Power Value
(EPV)
1.81 1.89 0.89 1.09 1.15 1.40 1.21 1.57 1.47 1.73 2.03 2.02 2.11 2.06 2.31 2.33 2.28 Altman Z-Score
4.00 7.00 6.00 4.00 6.00 8.00 6.00 7.00 4.00 6.00 9.00 8.00 7.00 6.00 7.00 8.00 8.00 Piotroski F-Score
-2.84 -2.75 -2.88 -2.51 -2.65 -3.16 -2.28 -2.73 -2.68 -2.52 -2.76 -2.74 -2.93 -2.79 -- -- -- Beneish M-Score
0.74 0.73 0.78 0.73 0.72 0.72 0.71 0.82 0.74 0.75 0.78 0.77 0.77 0.81 0.80 0.88 0.78 Scaled Net Operating
Assets
-0.09 0.60 2.10 -0.18 0.62 -2.73 -3.52 5.68 -1.81 0.77 1.11 -0.07 1.41 2.92 2.36 3.60 3.60 Sloan Ratio (%)
1.43 1.34 1.70 1.61 1.61 1.52 1.62 1.30 1.26 1.41 1.63 1.67 1.56 1.62 1.35 1.44 1.44 Current Ratio
1.26 1.18 1.51 1.43 1.42 1.34 1.41 1.11 1.08 1.20 1.40 1.41 1.30 1.36 1.12 1.20 1.20 Quick Ratio
-- -- -- -- -- -- -- 35.24 33.87 48.54 75.00 94.81 82.02 90.49 146 149 152 Highest Stock Price
-- -- -- -- -- -- -- -- 20.80 30.17 47.65 64.47 62.83 74.02 84.96 112 110 Lowest Stock Price
5.23 7.48 8.33 -6.62 -- 1.17 -19.20 15.09 -1.31 0.81 4.35 5.17 7.07 5.52 2.06 1.08 1.08 Shares Buyback Ratio (%)
13.71 12.46 13.65 -1.12 5.65 7.17 -7.80 -6.63 20.07 2.98 10.78 13.43 12.72 11.79 12.12 12.22 12.21 YoY Rev. per Sh. Growth
(%)
-1.15 23.34 -20.63 -20.87 -23.00 58.56 13.11 80.07 -29.78 -3.44 23.44 19.95 46.29 -18.49 79.16 -5.53 -5.45 YoY EPS Growth (%)
-1.09 19.26 4.66 13.05 -4.64 18.91 4.94 8.35 -2.63 2.21 10.35 12.76 21.51 2.82 19.66 5.26 5.28 YoY EBITDA Growth (%)
-28.86 -21.47 11.27 11.79 7.98 7.58 7.55 6.11 8.04 5.71 4.17 5.77 6.10 12.40 13.55 12.48 12.40 EBITDA 5-Y Growth (%)
476 440 403 426 426 426 426 477 440 445 436 414 384 362 347 341 339 Shares Outstanding (Basic
Average)
484 448 410 437 437 432 515 437 443 440 420 399 371 350 343 339 339 Shares Outstanding (EOP)
-- -- -- -- -- -- -- -- -- 1.85 1.28 0.55 -- 0.22 1.28 1.42 1.40 Beta
03/11/05 03/14/06 03/27/07 03/28/08 03/04/09 05/07/10 03/11/11 02/24/12 02/27/13 02/26/14 02/26/15 02/26/16 02/22/17 02/23/18 02/21/19 02/20/20 Filing Date
03/14/06 03/27/07 03/28/08 03/04/09 05/07/10 03/11/11 02/27/13 02/26/14 02/26/15 02/26/16 02/22/17 02/23/18 02/21/19 02/20/20 02/20/20 02/20/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HCA 6/6
Nektar Therapeutics (NAS:NKTR) 03/03/2020 2:00PM EST GuruFocus
Price: $ 19.33 -0.77(-3.83%) Market Cap: $ 3.43 B Enterprise Value: $2.34 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 3/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 3.71 Operating margin (%) -357.18
P/B 2.29
Equity to Asset 0.71 Net-margin (%) -352.83
F-Score: P/S 28.36
ROE (%) -25.98
2 EV-to-EBIT -6.03
Z-Score: ROA (%) -19.78
2.65 Current Ratio 12.60
ROC (Joel Greenblatt) (%) -315.63
M-Score: Quick Ratio 12.49
5.56 Revenue Growth (3Y)(%) 56.10
Days Inventory 202.46
Days Sales Outstanding 124.73
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year Nektar Therapeutics is a San Francisco-based emerging biotechnology company specializing in PEGylation
technology. Its portfolio includes PEGylated biologics in immuno-oncology, breast cancer, and autoimmune disease.
slow down 2016 59 33 36 37 165 The company partners with several large pharmaceutical and biotechnology companies to co-develop therapies in a
2017 25 35 153 95 308 range of indications, which includes a collaboration with Bristol-Myers Squibb to develop bempegaldesleukin, the firm's
Insider Sell: Insider Selling leading immuno-oncology candidate, in combination with Bristol's Opdivo.... (Read More)
2018 38 1,088 28 40 1,193
Competitors: HKSE:01548 , NAS:MRTX, SHSE:603233 , NAS:ZLAB, NAS:ADPT, NAS:FGEN, XTER:MOR,
2019 28 23 29 34 115 XSWX:IDIA, NAS:ARWR, NAS:GBT, NAS:IMMU, NAS:BLUE, NAS:BBIO, NAS:CBPO, SZSE:002653, XBRU:TUB,
DCF 2020 SHSE:600201, NAS:BPMC, NAS:AGIO, NAS:SAGE
GuruFocus does not Quarterly Earnings per Share Insider Trades
calculate intrinsic value: DCF
Mar Jun Sep Dec Full Year
(Earnings Based) for
2016 -0.14 -0.36 -0.32 -0.28 -1.10
companies with one star
2017 -0.42 -0.39 0.37 -0.21 -0.65
predictability or not rated. But
2018 -0.60 5.33 -0.56 -0.57 3.60
you can go to each stock's
2019 -0.68 -0.63 -0.56 0.00 -1.87
DCF page to calculate
2020
yourself.
Quarterly Dividends Per Share
Reverse DCF Mar Jun Sep Dec Full Year
2016 0.00 0.00 0.00 0.00 0.00
GuruFocus does not
2017 0.00 0.00 0.00 0.00 0.00
calculate reverse DCF growth
2018 0.00 0.00 0.00 0.00 0.00
rate for companies with one
2019 0.00 0.00 0.00 0.00 0.00
star predictability or not rated.
2020
But you can go to each
stock's DCF page to calculate Growth Rate
yourself.
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 14.70 27.40 -90.20
EBITDA Growth (%) 0.00 0.00 -149.00
Free Cash Flow Growth (%) 0.00 0.00 -150.20
Book Value Growth (%) 0.00 0.00 -18.10
EPS Growth (%) 0.00 0.00 -161.60
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NKTR 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1.46 1.47 2.43 2.97 0.98 0.78 1.69 0.63 0.71 1.29 1.58 1.74 1.19 1.97 6.63 0.66 0.66 Revenue per Share
-0.70 -1.73 -1.40 -0.08 0.03 -0.82 -0.10 -0.95 -1.08 -0.91 -0.02 -0.22 -0.68 -0.26 4.09 -2.19 -2.18 EBITDA per Share
-0.94 -2.03 -1.77 -0.39 -0.22 -0.98 -0.28 -1.09 -1.20 -1.03 -0.12 -0.32 -0.79 -0.35 4.03 -2.27 -2.25 EBIT per Share
-1.30 -2.15 -1.72 -0.36 -0.37 -1.11 -0.40 -1.19 -1.50 -1.40 -0.42 -0.61 -1.10 -0.62 3.78 -- -2.44 Earnings per Share (diluted)
-1.30 -2.15 -1.72 -0.36 -0.37 -1.11 -0.40 -1.19 -1.50 -1.40 -0.42 -0.61 -1.10 -0.62 3.78 -- -2.44 eps without NRI
-1.34 -1.96 -1.63 0.89 -0.65 0.09 -1.16 -1.35 -1.50 -0.61 -1.31 -0.83 -0.93 -0.81 3.54 -- -2.33 Owner Earnings per Share (TTM)
-1.34 -1.12 -1.28 1.24 -1.78 0.21 -0.93 -1.09 -1.22 -0.37 -1.20 -0.64 -0.88 -0.58 3.91 -2.05 -2.03 Free Cashflow per Share
5.53 3.73 2.49 2.32 2.06 1.10 0.96 1.73 0.41 -0.77 0.28 0.05 0.58 0.55 9.90 8.10 8.00 Book Value per Share
3.91 2.68 1.59 1.47 1.23 0.28 0.15 1.06 -0.26 -1.43 -0.31 -0.52 0.08 0.07 9.46 7.66 7.56 Tangible Book per Share
2.35 5.00 4.80 3.65 2.54 2.51 2.45 2.01 1.19 1.17 1.02 1.83 1.59 1.54 1.42 2.33 2.30 Total Debt per Share
20.24 16.46 15.21 6.71 5.56 9.32 12.85 5.60 7.41 11.35 15.50 16.85 12.27 59.72 32.87 -- 19.33 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-32.27 -46.62 -55.88 -14.84 -16.97 -70.09 -39.31 -92.89 -140 -- -- -380 -325 -110 75.47 -28.22 -28.24 Return on Equity %
-14.96 -23.09 -19.03 -4.39 -5.34 -18.05 -6.92 -23.76 -31.12 -34.75 -12.31 -17.27 -28.76 -17.94 51.25 -21.35 -21.02 Return on Assets %
-49.19 -119 -110 -27.52 -21.22 -119 -30.81 -146 -183 -171 -22.82 -58.95 -161 -97.51 1,244 -289 -257 Return on Capital %
-28.44 -65.09 -64.61 -27.36 -138 -- -- -130 -302 -- -- -- -- -- 206 -79.14 -88.61 Return on Invested Capital %
16.48 23.99 22.32 9.82 -2.61 3.78 4.84 8.45 12.48 14.91 13.76 7.41 14.97 17.60 25.54 -- 18.79 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.31 5.19 4.80 4.43 18.32 29.84 28.68 20.41 17.18 16.76 17.38 14.24 13.29 Effective Interest Rate on Debt %
82.67 81.21 45.76 45.97 61.15 56.98 83.86 69.37 62.52 74.14 85.78 85.22 81.74 90.07 97.95 81.35 81.35 Gross Margin %
-64.71 -138 -73.14 -13.24 -90.03 -132 -9.86 -173 -172 -80.67 -8.21 -12.73 -68.22 -14.19 57.65 -384 -384 Operating Margin %
-89.16 -147 -71.08 -12.00 -38.07 -143 -23.85 -187 -212 -109 -26.86 -35.17 -92.80 -31.42 57.09 -384 -384 Net Margin %
-92.18 -75.98 -52.93 41.57 -183 26.47 -54.91 -173 -173 -28.62 -75.72 -36.52 -74.60 -29.28 58.99 -310 -292 FCF Margin %
0.43 1.34 1.93 1.57 1.24 2.28 2.56 1.16 2.91 -1.52 3.68 38.50 2.76 2.79 0.14 0.29 0.29 Debt to Equity
0.63 0.38 0.30 0.30 0.34 0.18 0.17 0.33 0.09 -0.21 0.08 0.01 0.16 0.17 0.80 0.71 0.71 Total Equity to Total Asset
0.27 0.51 0.57 0.46 0.42 0.41 0.45 0.38 0.27 0.31 0.30 0.50 0.43 0.48 0.12 0.20 0.20 Total Debt to Total Asset
13.88 12.79 12.25 16.81 8.58 7.21 24.32 8.79 9.19 23.69 39.30 41.84 25.33 51.43 87.92 4.52 4.45 Gross Profit to Total Asset %
0.17 0.16 0.27 0.37 0.14 0.13 0.29 0.13 0.15 0.32 0.46 0.49 0.31 0.57 0.90 0.06 0.05 Asset Turnover
41.02 23.72 79.04 28.93 45.17 24.36 57.61 25.22 26.10 5.46 6.56 31.55 34.59 5.95 13.22 117 117 Days Sales Outstanding
132 291 25.22 8.88 144 36.16 102 50.34 34.34 86.39 34.58 25.29 34.02 57.14 87.53 328 328 Days Accounts Payable
177 225 51.44 33.21 112 93.11 97.67 166 185 150 169 130 136 130 165 205 214 Days Inventory
86.82 -41.45 105 53.26 13.09 81.31 52.98 141 177 69.40 141 136 136 79.26 90.96 -5.95 2.99 Cash Conversion Cycle
2.06 1.62 7.10 10.99 3.26 3.92 3.74 2.20 1.97 2.43 2.16 2.81 2.69 2.80 2.21 1.78 1.70 Inventory Turnover
0.17 0.19 0.54 0.54 0.39 0.43 0.16 0.31 0.37 0.26 0.14 0.15 0.18 0.10 0.02 0.19 0.19 COGS to Revenue
0.08 0.12 0.08 0.05 0.12 0.11 0.04 0.14 0.19 0.11 0.07 0.05 0.07 0.04 0.01 0.11 0.11 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NKTR 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
114 126 218 273 90.19 71.93 159 71.48 81.19 149 201 231 165 308 1,193 115 115 Revenue
19.80 23.73 118 148 35.04 30.95 25.67 21.89 30.43 38.51 28.53 34.10 30.22 30.55 24.41 21.37 21.37 Cost of Goods Sold
94.47 103 99.63 126 55.15 40.98 133 49.59 50.76 110 172 197 135 277 1,169 93.24 93.24 Gross Profit
82.67 81.21 45.76 45.97 61.15 56.98 83.86 69.37 62.52 74.14 85.78 85.22 81.74 90.07 97.95 81.35 81.35 Gross Margin %
30.97 43.85 82.36 57.28 51.50 41.01 40.99 46.76 41.61 40.53 40.93 43.27 44.28 52.36 81.44 98.71 98.71 Selling, General, & Admin. Expense
134 152 149 154 154 95.11 108 127 149 190 148 183 204 268 400 435 435 Research & Development
3.92 81.81 27.12 -49.20 -69.57 -- 0.00 -0.00 -- 0.00 -- -0.00 0.00 -0.00 -- 0.00 -0.00 Other Operating Expense
-73.94 -175 -159 -36.15 -81.19 -95.13 -15.68 -124 -140 -120 -16.49 -29.37 -113 -43.66 688 -440 -440 Operating Income
-64.71 -138 -73.14 -13.24 -90.03 -132 -9.86 -173 -172 -80.67 -8.21 -12.73 -68.22 -14.19 57.65 -384 -384 Operating Margin %
-- -- -- -- 12.50 3.69 1.55 2.24 3.30 1.12 0.81 1.68 2.39 4.52 37.57 46.34 46.34 Interest Income
-- -- -- -- -15.19 -12.18 -11.17 -10.22 -33.55 -40.76 -38.76 -38.90 -42.18 -40.95 -42.78 -46.35 -46.35 Interest Expense
-- -- -- -- -2.70 -8.49 -9.63 -7.98 -30.25 -39.64 -37.94 -37.22 -39.79 -36.43 -5.21 -0.02 -0.02 Net Interest Income
-28.11 -10.47 5.30 4.70 48.75 0.85 -11.75 -1.04 -1.68 -- -- -14.08 0.00 -15.98 -- 0.00 -- Other Income (Expense)
-102 -185 -154 -31.45 -35.14 -103 -37.06 -133 -171 -160 -54.43 -80.67 -153 -96.08 683 -440 -440 Pre-Tax Income
0.16 0.14 -0.83 -1.31 0.81 0.25 -0.88 -1.02 -0.41 -2.25 0.51 -0.51 -0.88 -0.62 -1.41 -0.61 -0.61 Tax Provision
0.16 0.07 -0.54 -4.16 2.29 0.25 -2.38 -0.77 -0.24 -1.41 0.94 -0.63 -0.57 -0.64 0.21 -0.14 -0.14 Tax Rate %
-102 -185 -155 -32.76 -34.34 -103 -37.94 -134 -172 -162 -53.92 -81.18 -154 -96.69 681 -441 -441 Net Income (Continuing Operations)
-102 -185 -155 -32.76 -34.34 -103 -37.94 -134 -172 -162 -53.92 -81.18 -154 -96.69 681 -441 -441 Net Income
-89.16 -147 -71.08 -12.00 -38.07 -143 -23.85 -187 -212 -109 -26.86 -35.17 -92.80 -31.42 57.09 -384 -384 Net Margin %
-1.30 -2.15 -1.72 -0.36 -0.37 -1.11 -0.40 -1.19 -1.50 -1.40 -0.42 -0.61 -1.10 -0.62 4.02 -- -2.44 EPS (Basic)
-1.30 -2.15 -1.72 -0.36 -0.37 -1.11 -0.40 -1.19 -1.50 -1.40 -0.42 -0.61 -1.10 -0.62 3.78 -- -2.44 EPS (Diluted)
78.46 85.92 89.79 91.88 92.41 92.77 94.08 113 115 116 127 132 140 156 180 174 176 Shares Outstanding (Diluted
Average)
19.19 26.23 33.51 29.03 22.49 14.88 16.55 14.95 14.51 14.28 12.93 12.86 15.35 14.74 10.87 13.16 13.16 Depreciation, Depletion and
Amortization
-54.76 -149 -126 -7.12 2.54 -75.72 -9.33 -108 -123 -105 -2.74 -28.92 -95.12 -40.38 736 -381 -381 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NKTR 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
32.06 261 63.76 76.29 156 49.60 17.76 15.31 25.44 39.07 12.37 55.57 59.64 4.76 195 96.36 96.36 Cash And Cash Equivalents
387 215 395 406 223 347 298 226 252 198 225 253 329 291 1,140 1,228 1,228 Marketable Securities
419 476 459 482 379 396 316 241 277 237 238 309 389 296 1,335 1,325 1,325 Cash, Cash Equivalents, Marketable
Securities
12.84 8.21 47.15 21.64 11.16 4.80 25.10 4.94 5.81 2.23 3.61 19.95 15.68 5.01 43.21 36.80 36.80 Accounts Receivable
4.85 8.05 8.61 9.52 6.96 5.94 6.10 6.66 7.49 3.95 2.20 3.24 2.06 1.80 1.85 1.67 1.67 Inventories, Raw Materials &
Components
4.55 2.74 4.74 1.75 1.74 -- -- 4.31 6.66 6.15 5.19 6.09 7.31 4.84 6.40 8.27 8.27 Inventories, Work In Process
1.29 7.84 1.31 0.92 0.61 0.53 1.17 1.68 4.12 3.36 5.57 2.02 1.74 4.09 3.13 2.73 2.73 Inventories, Finished Goods
0.00 -0.00 0.00 -0.00 -- -- -- 0.00 -- -- -0.00 -- -- 0.00 0.00 -- -- Inventories, Other
10.69 18.63 14.66 12.19 9.32 6.47 7.27 12.66 18.27 13.45 12.95 11.35 11.11 10.73 11.38 12.67 12.67 Total Inventories
12.27 16.81 14.60 7.11 6.75 6.18 5.68 17.94 13.36 5.17 33.82 9.81 10.06 14.95 47.74 47.22 47.22 Other Current Assets
455 520 535 523 406 414 354 277 315 258 288 350 426 327 1,438 1,422 1,422 Total Current Assets
-- -- -- -- -- -- -- 174 -- -- -- -- -- 57.09 583 279 279 Investments And Advances
1.06 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Land And Improvements
85.83 115 119 114 62.26 62.97 73.15 72.47 72.18 71.31 72.23 77.67 75.14 81.44 77.77 -- -- Buildings And Improvements
66.50 98.77 87.44 88.09 47.95 55.05 68.06 66.59 69.94 73.56 75.64 87.93 98.25 79.71 86.50 95.23 95.23 Machinery, Furniture, Equipment
61.53 15.20 8.51 18.37 6.88 14.64 2.56 1.75 2.77 6.26 16.31 8.46 3.46 1.40 5.09 4.55 4.55 Construction In Progress
215 229 240 221 117 133 144 141 145 151 164 174 177 163 169 327 327 Gross Property, Plant and Equipment
-63.67 -86.74 -107 -106 -43.51 -54.40 -53.99 -62.24 -72.67 -84.15 -93.81 -103 -111 -115 -121 -128 -128 Accumulated Depreciation
151 142 134 114 73.58 78.26 89.77 78.58 72.22 66.97 70.37 71.34 65.60 47.46 48.85 199 199 Property, Plant and Equipment
137 91.88 82.06 78.43 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 Intangible Assets
-- 78.43 78.43 78.43 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 76.50 Goodwill
2.56 105 17.27 8.97 4.24 7.09 0.97 1.00 34.44 33.17 6.55 0.75 0.82 0.99 4.24 1.01 1.01 Other Long Term Assets
745 859 768 725 561 576 521 607 498 435 442 499 569 509 2,150 1,977 1,977 Total Assets
7.14 18.90 8.16 3.59 13.83 3.07 7.19 3.02 2.86 9.12 2.70 2.36 2.82 4.78 5.85 19.23 19.23 Accounts Payable
22.21 39.88 38.14 71.16 52.95 31.64 37.13 23.45 35.45 39.18 23.75 18.94 19.68 28.51 57.68 74.78 74.78 Accounts Payable & Accrued
Expense
1.55 0.48 103 -- -- -- -- 215 -- 3.54 4.51 4.76 -- -- -- 261 261 Current Portion of Long-Term Debt
29.89 15.49 16.41 19.62 10.01 116 20.58 19.64 21.90 23.66 24.47 21.43 14.35 18.95 13.89 5.52 5.52 Current Deferred Revenue
29.89 15.49 16.41 19.62 10.01 116 20.58 19.64 21.90 23.66 24.47 21.43 14.35 18.95 13.89 5.52 5.52 DeferredTaxAndRevenue
2.01 13.74 7.40 7.31 5.42 5.81 6.39 17.49 21.19 31.84 11.32 16.13 38.19 8.71 10.43 12.39 12.39 Other Current Liabilities
55.65 69.60 165 98.09 68.37 153 64.11 276 78.54 98.22 64.05 61.25 72.22 56.16 82.00 354 354 Total Current Liabilities
174 418 315 315 215 215 215 -- 125 125 125 242 243 245 247 -- -- Long-Term Debt
23.57 20.28 19.76 21.63 20.35 18.80 17.01 14.58 11.61 8.05 4.14 1.07 -- -- -- 143 143 Capital Lease Obligation
198 438 335 337 235 234 232 14.58 137 133 129 243 243 245 247 143 143 Long-Term Debt & Capital Lease
Obligation
0.43 1.34 1.93 1.57 1.24 2.28 2.56 1.16 2.91 -1.52 3.68 38.50 2.76 2.79 0.14 0.29 0.29 Debt to Equity
-- -- -- -- 61.47 81.84 129 111 96.55 82.38 76.91 62.43 51.89 19.02 10.74 2.55 2.55 NonCurrent Deferred Liabilities
24.41 24.22 41.04 75.94 5.24 4.54 5.57 7.16 139 211 135 126 113 101 92.90 72.79 72.79 Other Long-Term Liabilities
278 532 541 511 370 473 431 409 451 524 405 492 481 421 433 572 572 Total Liabilities
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.02 0.02 0.02 0.02 Common Stock
-717 -902 -1,057 -1,090 -1,124 -1,227 -1,265 -1,399 -1,570 -1,732 -1,786 -1,867 -2,021 -2,118 -1,424 -1,865 -1,865 Retained Earnings
-3.12 -4.66 0.06 1.64 1.44 1.03 0.97 -1.10 -0.36 -1.18 -1.57 -2.17 -2.36 -2.11 -6.32 -1.01 -1.01 Accumulated other comprehensive
income (loss)
1,188 1,234 1,284 1,303 1,313 1,328 1,354 1,597 1,618 1,644 1,824 1,876 2,111 2,208 3,148 3,271 3,271 Additional Paid-In Capital
467 327 227 214 190 102 90.66 198 47.02 -89.90 36.33 6.43 88.13 87.83 1,718 1,405 1,405 Total Equity
0.63 0.38 0.30 0.30 0.34 0.18 0.17 0.33 0.09 -0.21 0.08 0.01 0.16 0.17 0.80 0.71 0.71 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NKTR 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-102 -185 -155 -32.76 -34.34 -103 -37.94 -134 -172 -162 -53.92 -81.18 -154 -96.69 681 -441 -441 Net Income
-102 -185 -155 -32.76 -34.34 -103 -37.94 -134 -172 -162 -53.92 -81.18 -154 -96.69 681 -441 -441 Net Income From Continuing
Operations
19.19 26.23 33.51 29.03 22.49 14.88 16.55 14.95 14.51 14.28 12.93 12.86 15.35 14.74 10.87 13.16 13.16 Depreciation, Depletion and
Amortization
-6.03 6.02 -34.65 24.32 10.48 6.03 -20.30 20.16 -0.87 3.58 -1.38 -16.34 4.27 10.66 -25.51 6.41 6.41 Change In Receivables
-3.69 -7.42 3.97 1.50 2.87 2.85 -0.80 -5.39 -5.61 4.82 0.50 1.61 0.24 0.38 -0.66 -1.28 -1.28 Change In Inventory
-0.68 10.33 -8.93 -3.15 -24.25 -17.21 3.93 -2.56 12.20 3.52 -15.28 -4.90 0.45 9.35 28.92 16.78 16.78 Change In Payables And Accrued
Expense
-7.66 4.56 -8.85 107 -26.79 118 -64.66 -14.96 1.61 90.59 -116 -34.71 7.93 -37.62 -39.01 21.69 21.69 Change In Working Capital
-- -- -- -- 9.87 10.33 17.40 18.89 16.20 17.71 17.02 19.67 25.85 36.62 88.10 99.80 Stock Based Compensation
99.80
12.22 76.32 37.39 43.28 -118 -0.66 0.20 1.35 8.11 0.92 -1.61 8.70 -12.63 -12.55 -23.06 -22.66 -22.66 Cash Flow from Others
-78.14 -78.00 -92.72 146 -146 39.74 -55.87 -114 -130 -38.53 -142 -73.08 -117 -80.41 718 -329 -329 Cash Flow from Operations
-27.19 -17.96 -22.52 -32.80 -18.86 -20.70 -31.46 -9.72 -10.58 -4.09 -9.98 -11.20 -6.39 -9.68 -14.24 -26.29 -26.29 Purchase Of Property, Plant,
Equipment
-- -- -- -- 115 -- -- -- -- -- -- -- -- -- 2.63 -- -- Sale Of Property, Plant, Equipment
-400 -235 -502 -593 -480 -452 -443 -695 -165 -268 -297 -298 -335 -404 -2,271 -1,381 -1,381 Purchase Of Investment
339 316 408 593 658 328 491 593 313 322 270 269 259 385 903 1,614 1,614 Sale Of Investment
-- -30.71 -- -- 0.00 -4.44 0.00 -- -25.00 -- -0.00 25.00 -0.00 0.00 0.00 -- -0.00 Cash From Other Investing Activities
-88.91 32.40 -117 -32.66 275 -149 16.71 -112 113 49.91 -37.57 -14.34 -82.40 -28.81 -1,380 207 207 Cash Flow from Investing
211 42.42 22.26 3.78 0.38 4.82 8.89 224 4.12 8.21 164 32.21 210 59.52 852 23.36 23.36 Issuance of Stock
-3.95 232 -10.49 -106 -50.13 -1.29 -1.36 -1.98 -96.90 -2.99 -3.54 98.58 -5.95 -5.13 -- -- -- Net Issuance of Debt
-- -- -- -- -- -- -- -- 120 -3.00 -7.00 -- -- -- -- -- -- Other Financing
207 275 11.77 -102 -49.74 3.54 7.54 222 26.80 2.22 153 131 204 54.39 852 23.36 23.36 Cash Flow from Financing
40.36 229 -198 12.53 79.29 -106 -31.84 -2.44 10.13 13.63 -26.70 43.21 4.07 -54.88 190 -98.54 -98.54 Net Change in Cash
-27.19 -17.96 -22.52 -32.80 -18.86 -20.70 -31.46 -9.72 -10.58 -4.09 -9.98 -11.20 -6.39 -9.68 -14.24 -26.29 -26.29 Capital Expenditure
-105 -95.95 -115 114 -165 19.04 -87.33 -123 -140 -42.62 -152 -84.28 -123 -90.09 704 -355 -355 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NKTR 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 9.13 -- -- PE Ratio(TTM)
-- -- -- 7.52 -- 102 -- -- -- -- -- -- -- -- 9.28 -- -- Price to Owner Earnings
(TTM)
3.66 4.42 6.11 2.89 2.70 8.50 13.40 3.24 18.16 -- 55.96 351 21.34 108 3.32 -- 2.29 Price to Book
5.18 6.14 9.57 4.55 4.52 33.65 85.67 5.28 -- -- -- -- 161 841 3.48 -- 2.41 Price to Tangible Book
-- -- -- 5.46 -- 47.31 -- -- -- -- -- -- -- -- 8.65 -- -- Price-to-Free-Cash-Flow
Ratio
-- -- -- 4.23 -- 22.19 -- -- -- -- -- -- -- -- 8.48 -- -- Price-to-Operating-Cash-
Flow Ratio
13.78 11.20 6.29 2.26 5.69 12.06 7.60 8.87 10.47 8.83 10.06 9.80 10.31 30.99 4.99 -- 28.36 PS Ratio
13.06 11.13 6.28 1.73 4.11 9.83 7.11 8.81 8.79 8.20 9.61 9.61 10.48 30.79 3.87 -- 19.14 EV-to-Revenue
-27.15 -9.46 -10.88 -66.52 146 -9.34 -121 -5.84 -5.78 -11.67 -703 -76.71 -18.23 -235 6.27 -- -6.25 EV-to-EBITDA
-20.12 -8.04 -8.59 -13.10 -18.58 -7.80 -43.68 -5.13 -5.17 -10.27 -123 -53.11 -15.70 -172 6.36 -- -6.03 EV-to-EBIT
-4.97 -12.44 -11.64 -7.63 -5.38 -12.82 -2.29 -19.49 -19.34 -9.74 -0.81 -1.88 -6.37 -0.58 15.72 -- -16.58 Return on Capital %
-46.47 -45.85 -10.64 -12.73 -15.61 -5.90 -4.00 -8.44 -12.98 -5.99 -- -- -- -- -- -- -- Forward Rate of Return
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,712 1,444 1,388 619 514 869 1,215 641 854 1,322 2,034 2,280 1,880 9,527 5,704 -- 3,432 Market Cap
1,492 1,406 1,368 474 371 707 1,131 629 713 1,222 1,930 2,218 1,734 9,476 4,616 -- 2,339 Enterprise Value
20.24 16.46 15.21 6.71 5.56 9.32 12.85 5.60 7.41 11.35 15.50 16.85 12.27 59.72 32.87 -- 19.33 Month End Stock Price
1.67 -0.63 -0.90 -0.31 0.09 -0.82 -1.21 -1.46 -1.51 -2.47 -1.28 -1.35 -0.60 -0.78 5.20 4.34 4.28 Net Cash (per share)
2.09 -0.14 -0.07 0.14 0.39 -0.64 -0.81 -1.15 -1.18 -2.29 -0.89 -1.05 -0.36 -0.59 5.79 4.90 4.83 Net Current Asset Value
(per share)
1.85 -0.46 -0.44 -0.06 0.23 -0.75 -0.98 -1.38 -1.39 -2.40 -1.21 -1.20 -0.49 -0.73 5.42 4.53 4.48 Net-Net Working Capital (per
share)
-7.39 -8.29 -9.18 -6.04 -6.30 -5.06 -4.79 -3.58 -4.95 -8.33 -6.60 -7.46 -9.93 -7.84 9.67 -- -- Projected FCF (per share)
28.05 24.09 32.69 34.70 9.50 6.89 14.17 4.51 5.88 12.56 14.96 14.86 10.55 19.64 70.10 -- 7.29 Median PS (per share)
-11.56 -- -43.23 -4.45 -- -- -- -- -- -- -- -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 28.36 -- -- Graham Number (per share)
-11.50 -14.46 -15.20 -13.90 -15.33 -19.59 -16.52 -14.91 -12.33 -13.88 -12.80 -14.83 -11.50 -11.94 -19.57 -- -32.13 Earnings Power Value
(EPV)
2.70 0.22 -0.19 -0.44 -1.30 -1.73 -0.90 -2.83 -3.46 -4.19 -1.71 -1.58 -2.23 8.63 9.41 -- 2.65 Altman Z-Score
4.00 1.00 4.00 6.00 3.00 3.00 5.00 2.00 2.00 3.00 5.00 3.00 3.00 5.00 8.00 -- 2.00 Piotroski F-Score
-1.60 -3.13 0.24 -4.25 -2.37 -4.23 0.11 -3.02 -2.77 -3.83 -1.11 0.90 -3.04 -2.27 1.54 -- 5.56 Beneish M-Score
0.40 0.39 0.24 0.09 0.06 -0.11 0.01 0.36 -0.15 -0.38 -0.16 -0.13 -0.12 0.07 1.24 0.23 0.23 Scaled Net Operating
Assets
8.75 -16.25 7.14 -20.19 -29.12 1.18 0.23 15.12 -31.16 -39.90 28.45 1.25 8.07 2.46 62.46 -16.13 -16.13 Sloan Ratio (%)
8.17 7.47 3.24 5.33 5.94 2.70 5.52 1.00 4.01 2.63 4.50 5.72 5.90 5.82 17.53 4.02 4.02 Current Ratio
7.98 7.20 3.15 5.21 5.80 2.66 5.41 0.96 3.77 2.49 4.30 5.53 5.74 5.63 17.39 3.98 3.98 Quick Ratio
23.24 19.80 22.78 15.24 7.50 10.47 15.88 12.53 10.83 13.96 17.05 17.41 19.68 60.50 108 -- 41.74 Highest Stock Price
9.69 13.41 13.10 5.22 2.83 4.03 9.32 4.22 5.60 7.41 10.53 9.50 11.00 11.75 30.43 -- 15.64 Lowest Stock Price
-50.49 -3.71 -4.07 -1.12 -0.22 -0.84 -1.33 -21.13 -0.68 -1.07 -12.64 -3.10 -13.25 -4.12 -8.78 -- -1.30 Shares Buyback Ratio (%)
-23.53 0.96 64.97 22.56 -67.16 -20.59 118 -62.54 11.69 82.04 22.92 10.11 -31.97 66.50 236 -90.02 -90.03 YoY Rev. per Sh. Growth
(%)
-54.76 -65.38 20.00 79.07 -2.78 -200 63.96 -198 -26.05 6.67 70.00 -45.24 -80.33 43.64 710 -100.00 -162 YoY EPS Growth (%)
18.46 -148 19.03 94.50 135 -3,122 87.87 -864 -12.68 15.81 97.57 -891 -212 61.97 1,678 -154 -155 YoY EBITDA Growth (%)
-38.08 -36.79 -1.23 -- -- -- -- -- -- -- -- -- -- -- -- -- -- EBITDA 5-Y Growth (%)
78.46 85.92 89.79 91.88 92.41 92.77 94.08 113 115 116 127 132 140 156 170 -- -- Shares Outstanding (Basic
Average)
84.57 87.71 91.28 92.30 92.51 93.28 94.52 114 115 116 131 135 153 160 174 174 178 Shares Outstanding (EOP)
2.52 3.99 3.95 2.05 -1.11 -0.05 0.26 1.33 1.63 1.76 1.76 0.65 1.98 2.54 3.87 -- 2.96 Beta
03/14/05 03/16/06 03/01/07 02/29/08 03/06/09 03/03/10 03/01/11 02/29/12 03/01/13 02/27/14 02/26/15 03/01/16 03/01/17 03/01/18 03/01/19 02/28/20 Filing Date
03/16/06 03/01/07 02/29/08 03/06/09 03/03/10 03/01/11 03/01/13 02/27/14 02/26/15 03/01/16 03/01/17 03/01/18 03/01/19 02/28/20 02/28/20 02/28/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NKTR 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NKTR 7/7
Sysco Corp (NYSE:SYY) 03/03/2020 2:01PM EST GuruFocus
Price: $ 68.09 -1.59(-2.28%) Market Cap: $ 34.62 B Enterprise Value: $43.65 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 8/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 19.52
Cash to Debt 0.06 Operating margin (%) 4.09
Forward P/E N/A
Equity to Asset 0.13 Net-margin (%) 3.00
PE(NRI) 19.52
Interest Coverage 7.17 ROE (%) 75.45
F-Score:
P/B 13.71
ROA (%) 9.78
7 P/S 0.58
Z-Score: ROC (Joel Greenblatt) (%) 38.17
5.76 PFCF 25.51
Revenue Growth (3Y)(%) 9.60
WACC vs 4.29% POCF 15.70
ROIC 19.17% EBITDA Growth (3Y)(%) 12.90
WACC EV-to-EBIT 17.35
EPS Growth (3Y)(%) 25.00
ROIC
PEG 1.38
Shiller P/E 30.85
Current Ratio 1.25
Quick Ratio 0.74
Days Inventory 25.00
Days Sales Outstanding 26.42
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYY 1/8
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year Sysco is the largest U.S. foodservice distributor, boasting 16% market share of the highly fragmented foodservice
distribution industry. Sysco distributes over 400,000 food and non-food products to restaurants (62% of revenue),
slow down 2016 12,003 13,648 13,969 13,457 53,077 healthcare facilities (8%), travel, leisure, and retail (9%), education and government buildings (9%), and other
2017 13,524 14,421 14,650 14,411 57,007 locations (12%) where individuals consume away-from-home meals. In 2019, 80% of the firm's revenue was U.S.-
Long-Term Debt: Issuing new based, with 8% from Canada, 5% from the U.K., 3% from France, and 4% other.... (Read More)
2018 14,350 15,316 15,215 14,766 59,646
debt Competitors: XLIS:JMT, BSP:CRFB3 , NYSE:USFD, PHS:FB, LSE:BNZL , JSE:BID, NYSE:PFGC, XTER:B4B,
2019 14,658 15,475 15,303 15,025 60,461 OSTO:AXFO, NZSE:FCG, SGX:O32, JSE:SPP, ASX:MTS, TSE:7451, SZSE:000061, MIL:MARR, SAU:2270,
Stock buyback: Poor 2020 TSE:2281, TSE:9869, NAS:CHEF
buyback track record
Quarterly Earnings per Share Insider Trades
Insider Sell: Insider Selling
Mar Jun Sep Dec Full Year
2016 0.38 0.38 0.58 0.50 1.84
Good Signs 2017 0.44 0.57 0.69 0.54 2.24
2018 0.63 0.85 0.81 0.51 2.80
Piotroski F-Score: High 2019 0.85 1.03 0.87 0.74 3.49
Operating Margin %: 2020
Expansion Quarterly Dividends Per Share
Dividend Yield %: Close to 2- Mar Jun Sep Dec Full Year
year high 2016 0.31 0.31 0.31 0.33 1.26
PE Ratio: Close to 5-year low 2017 0.33 0.33 0.33 0.36 1.35
2018 0.36 0.36 0.36 0.39 1.47
PB Ratio: Close to 2-year low 2019 0.39 0.39 0.39 0.45 1.62
PS Ratio: Close to 2-year low 2020
Growth Rate
DCF Annual Rates(per share) 10-Y 5-Y 12-M
GuruFocus does not Revenue Growth (%) 6.70 8.80 3.10
calculate intrinsic value: DCF
EBITDA Growth (%) 4.30 14.50 10.80
(Earnings Based) for
companies with one star Free Cash Flow Growth (%) 15.00 15.50 -5.40
predictability or not rated. But Book Value Growth (%) -3.90 -3.90 17.70
you can go to each stock's EPS Growth (%) 3.40 19.80 24.60
DCF page to calculate
yourself.
Reverse DCF
GuruFocus does not
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYY 2/8
Per Share Data
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
44.30 46.30 51.88 56.01 61.41 61.83 62.74 66.80 71.96 74.93 78.81 81.56 87.23 101 111 115 117 Revenue per Share
2.74 2.92 2.93 3.31 3.72 3.81 3.98 3.99 3.93 3.69 3.64 3.04 4.16 5.42 5.89 5.98 6.39 EBITDA per Share
2.31 2.43 2.38 2.73 3.12 3.17 3.33 3.31 3.22 2.83 2.71 2.12 3.01 3.77 4.45 4.52 4.85 EBIT per Share
1.37 1.47 1.36 1.60 1.81 1.77 1.99 1.96 1.90 1.67 1.58 1.15 1.64 2.08 2.70 3.20 3.49 Earnings per Share (diluted)
1.37 1.47 1.35 1.60 1.81 1.77 1.99 1.96 1.90 1.67 1.58 1.15 1.64 2.08 2.70 3.20 3.49 eps without NRI
1.19 1.20 0.94 1.36 1.71 1.70 0.52 0.87 1.33 1.49 1.47 1.60 2.03 3.02 2.77 3.38 3.04 Owner Earnings per Share (TTM)
1.00 1.23 0.97 1.28 1.77 1.87 0.49 0.77 1.05 1.69 1.64 1.70 2.53 2.82 2.77 3.28 2.67 Free Cashflow per Share
0.50 0.58 0.66 0.74 0.85 0.94 0.99 1.03 1.07 1.11 1.15 1.19 1.23 1.30 1.41 1.53 1.62 Dividends per Share
4.03 4.39 4.93 5.38 5.67 5.85 6.51 7.95 8.00 8.86 8.99 8.85 6.22 4.49 4.82 4.88 4.97 Book Value per Share
2.11 2.34 2.67 3.00 3.17 3.08 3.69 5.01 4.96 5.29 5.36 5.29 2.06 -4.85 -4.66 -4.39 -4.62 Tangible Book per Share
2.31 2.28 2.85 2.92 3.29 4.20 4.22 4.51 5.15 4.93 4.66 12.32 13.29 15.46 15.99 15.92 18.77 Total Debt per Share
35.87 36.19 30.56 32.99 27.51 22.48 28.57 31.18 29.81 34.16 37.45 36.10 50.74 50.33 68.29 70.72 68.09 Month End Stock Price
Ratios
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
38.10 36.12 29.44 31.63 33.08 30.79 32.43 27.00 23.89 20.10 17.81 13.05 21.73 38.99 58.54 66.84 75.45 Return on Equity %
12.27 11.93 9.91 10.82 11.29 10.44 11.53 10.62 9.54 8.00 7.22 4.41 5.47 6.63 7.99 9.29 9.78 Return on Assets %
55.08 52.77 44.84 46.37 48.70 46.54 45.09 38.57 32.91 26.85 25.31 20.60 29.79 35.55 38.97 38.94 38.17 Return on Capital %
26.68 25.59 21.06 22.29 23.96 22.91 23.77 19.59 17.29 14.49 13.14 11.14 16.98 15.92 16.93 19.04 19.17 Return on Invested Capital %
6.96 7.52 9.48 10.53 8.88 7.45 6.86 6.49 5.38 6.62 6.93 6.40 4.09 4.42 5.04 5.53 4.29 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.93 5.22 5.06 4.59 3.99 4.35 4.40 5.07 4.15 3.88 4.79 4.37 3.87 Effective Interest Rate on Debt %
19.34 19.10 19.28 19.28 19.17 19.09 19.30 18.80 18.36 18.01 17.59 17.57 17.95 19.07 18.88 18.98 19.03 Gross Margin %
5.22 5.25 4.58 4.88 5.01 5.08 5.31 4.91 4.46 3.73 3.41 2.53 3.67 3.71 3.94 3.88 4.09 Operating Margin %
3.09 3.18 2.62 2.86 2.95 2.87 3.17 2.93 2.65 2.23 2.00 1.41 1.89 2.06 2.44 2.79 3.00 Net Margin %
2.25 2.65 1.87 2.28 2.88 3.02 0.78 1.16 1.46 2.25 2.08 2.08 2.90 2.79 2.50 2.86 2.29 FCF Margin %
0.57 0.52 0.58 0.54 0.58 0.72 0.65 0.57 0.64 0.56 0.52 1.39 2.14 3.44 3.32 3.26 3.78 Debt to Equity
0.33 0.33 0.34 0.34 0.34 0.34 0.37 0.41 0.39 0.41 0.40 0.29 0.21 0.13 0.14 0.14 0.13 Total Equity to Total Asset
0.19 0.17 0.20 0.19 0.20 0.24 0.24 0.23 0.25 0.23 0.21 0.41 0.45 0.46 0.46 0.45 0.49 Total Debt to Total Asset
76.76 71.78 72.90 73.01 73.41 69.56 70.26 68.16 66.14 64.45 63.37 54.94 52.09 61.24 61.88 63.32 62.06 Gross Profit to Total Asset %
3.97 3.76 3.78 3.79 3.83 3.64 3.64 3.62 3.60 3.58 3.60 3.13 2.90 3.21 3.28 3.34 3.26 Asset Turnover
0.37 0.40 0.49 0.46 0.47 0.53 0.50 0.53 0.56 0.67 0.73 1.04 0.75 0.63 0.52 0.48 0.46 Dividend Payout Ratio
27.24 27.53 27.78 27.20 26.49 24.45 25.65 26.90 25.55 26.16 26.67 25.14 24.50 26.45 25.32 25.39 26.42 Days Sales Outstanding
26.88 26.76 26.21 25.57 24.66 21.89 23.72 24.96 23.31 24.34 26.95 26.21 25.93 32.34 31.69 32.33 31.01 Days Accounts Payable
20.32 21.38 21.30 21.44 21.37 21.34 20.78 21.98 22.43 22.93 23.79 24.08 23.54 22.95 23.45 23.76 25.00 Days Inventory
20.68 22.15 22.87 23.07 23.20 23.90 22.71 23.92 24.67 24.75 23.51 23.01 22.11 17.06 17.08 16.82 20.41 Cash Conversion Cycle
17.96 17.07 17.13 17.03 17.08 17.10 17.56 16.61 16.27 15.92 15.34 15.16 15.50 15.91 15.57 15.36 14.60 Inventory Turnover
0.81 0.81 0.81 0.81 0.81 0.81 0.81 0.81 0.82 0.82 0.82 0.82 0.82 0.81 0.81 0.81 0.81 COGS to Revenue
0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.06 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYY 3/8
Income Statement
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
29,335 30,282 32,628 35,042 37,522 36,853 37,243 39,323 42,381 44,411 46,517 48,681 50,367 55,371 58,727 60,114 60,461 Revenue
23,662 24,498 26,337 28,285 30,327 29,817 30,055 31,929 34,602 36,415 38,336 40,129 41,326 44,814 47,642 48,705 48,956 Cost of Goods Sold
5,674 5,784 6,291 6,757 7,195 7,036 7,188 7,395 7,779 7,997 8,181 8,552 9,040 10,558 11,085 11,409 11,505 Gross Profit
19.34 19.10 19.28 19.28 19.17 19.09 19.30 18.80 18.36 18.01 17.59 17.57 17.95 19.07 18.88 18.98 19.03 Gross Margin %
4,141 4,194 4,796 5,049 5,315 -- -- 5,390 -- -- -- -- -- -- -- -- -- Selling, General, & Admin. Expense
0.00 -0.00 -0.00 -- -0.00 5,164 5,212 73.56 5,889 6,338 6,594 7,322 7,190 8,503 8,771 9,079 9,034 Other Operating Expense
1,533 1,590 1,495 1,708 1,880 1,872 1,976 1,932 1,891 1,658 1,587 1,229 1,851 2,055 2,314 2,330 2,471 Operating Income
5.22 5.25 4.58 4.88 5.01 5.08 5.31 4.91 4.46 3.73 3.41 2.53 3.67 3.71 3.94 3.88 4.09 Operating Margin %
-- -- -- -- -112 -116 -125 -118 -113 -128 -124 -255 -306 -303 -395 -360 -344 Interest Expense
-- -- -- -- -112 -116 -125 -118 -113 -128 -124 -255 -306 -303 -395 -360 -344 Net Interest Income
-57.52 -64.09 -100 -87.27 22.93 14.94 -0.80 14.22 6.77 17.47 12.24 33.59 -111 14.49 37.65 36.11 45.13 Other Income (Expense)
1,475 1,525 1,395 1,621 1,791 1,771 1,850 1,827 1,784 1,547 1,476 1,008 1,433 1,766 1,956 2,006 2,172 Pre-Tax Income
-568 -564 -549 -620 -685 -715 -670 -675 -662 -555 -544 -321 -483 -624 -525 -332 -359 Tax Provision
38.50 36.97 39.35 38.25 38.25 40.37 36.20 36.96 37.13 35.87 36.87 31.88 33.73 35.31 26.86 16.53 16.51 Tax Rate %
907 961 846 1,001 1,106 1,056 1,180 1,152 1,122 992 932 687 950 1,143 1,431 1,674 1,813 Net Income (Continuing Operations)
907 961 855 1,001 1,106 1,056 1,180 1,152 1,122 992 932 687 950 1,143 1,431 1,674 1,813 Net Income
3.09 3.18 2.62 2.86 2.95 2.87 3.17 2.93 2.65 2.23 2.00 1.41 1.89 2.06 2.44 2.79 3.00 Net Margin %
1.41 1.51 1.38 1.62 1.83 1.77 1.99 1.96 1.91 1.68 1.59 1.16 1.66 2.10 2.74 3.24 3.53 EPS (Basic)
1.37 1.47 1.36 1.60 1.81 1.77 1.99 1.96 1.90 1.67 1.58 1.15 1.64 2.08 2.70 3.20 3.49 EPS (Diluted)
662 654 629 626 611 596 594 589 589 593 590 597 577 549 529 523 516 Shares Outstanding (Diluted
Average)
284 317 345 363 373 382 390 403 417 510 548 553 663 902 765 764 797 Depreciation, Depletion and
Amortization
1,816 1,906 1,840 2,071 2,275 2,269 2,365 2,348 2,314 2,186 2,147 1,816 2,402 2,971 3,117 3,130 3,313 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYY 4/8
Balance Sheet
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
200 192 202 208 552 1,019 585 640 689 412 413 5,130 3,919 870 552 513 525 Cash And Cash Equivalents
-- -- -- -- -- -- 23.51 -- -- -- -- -- -- -- -- -- -- Marketable Securities
200 192 202 208 552 1,019 609 640 689 412 413 5,130 3,919 870 552 513 525 Cash, Cash Equivalents, Marketable
Securities
2,189 2,284 2,484 2,611 2,723 2,469 2,617 2,898 2,967 3,183 3,399 3,353 3,381 4,012 4,074 4,182 4,376 Accounts Receivable
1,404 1,466 1,608 1,714 1,836 1,651 1,772 2,074 2,179 2,396 2,602 2,692 2,639 2,996 3,125 3,216 3,508 Inventories, Other
1,404 1,466 1,608 1,714 1,836 1,651 1,772 2,074 2,179 2,396 2,602 2,692 2,639 2,996 3,125 3,216 3,508 Total Inventories
58.17 59.91 106 143 63.81 64.42 78.41 121 250 230 268 319 114 139 188 211 245 Other Current Assets
3,851 4,002 4,400 4,676 5,175 5,202 5,076 5,733 6,085 6,222 6,682 11,494 10,054 8,033 8,003 8,142 8,662 Total Current Assets
187 208 221 239 270 307 323 348 353 412 432 442 449 478 496 498 -- Land And Improvements
1,775 1,916 2,141 2,428 2,652 2,818 2,983 3,227 3,511 3,657 3,816 3,878 3,962 4,072 4,269 4,545 -- Buildings And Improvements
2,021 2,121 2,278 2,417 2,542 2,642 2,855 3,173 3,478 3,688 3,836 4,071 4,174 5,149 5,436 4,911 -- Machinery, Furniture, Equipment
3,983 4,246 4,639 5,084 5,464 5,767 6,160 6,748 7,341 7,756 8,084 8,390 8,585 9,699 10,201 9,954 5,225 Gross Property, Plant and Equipment
-1,816 -1,978 -2,174 -2,363 -2,575 -2,788 -2,956 -3,236 -3,457 -3,778 -4,098 -4,408 -4,705 -5,322 -5,679 -5,453 -- Accumulated Depreciation
2,167 2,268 2,465 2,721 2,890 2,979 3,204 3,512 3,884 3,978 3,986 3,982 3,880 4,377 4,522 4,502 5,225 Property, Plant and Equipment
1,219 1,285 1,398 1,447 1,501 1,632 1,656 1,743 1,779 2,090 2,128 2,115 2,329 4,954 4,935 4,754 4,879 Intangible Assets
-- 1,213 1,303 1,355 1,413 1,511 1,550 1,633 1,666 1,884 1,951 1,960 2,122 3,916 3,955 3,896 4,024 Goodwill
611 713 729 675 517 335 377 397 389 388 346 398 458 392 610 570 606 Other Long Term Assets
7,848 8,268 8,992 9,519 10,082 10,148 10,314 11,386 12,137 12,678 13,141 17,989 16,722 17,757 18,070 17,967 19,372 Total Assets
1,743 1,796 1,891 1,981 2,049 1,788 1,953 2,183 2,209 2,428 2,831 2,882 2,936 3,971 4,136 4,315 4,160 Accounts Payable
-- -- -- -- 11.67 -- -- -- 50.32 -- -- -- 111 14.54 56.79 17.34 188 Total Tax Payable
2,468 2,538 2,637 2,904 2,978 2,910 2,823 3,040 3,169 3,414 3,992 4,350 4,336 5,562 5,802 6,062 6,034 Accounts Payable & Accrued
Expense
237 475 136 22.47 4.90 9.16 7.97 389 255 249 376 5,050 98.47 534 787 41.28 898 Current Portion of Long-Term Debt
422 434 454 489 516 162 178 146 -- -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
422 434 454 489 516 162 178 146 -- -- -- -- -- -- -- -- -- DeferredTaxAndRevenue
0.00 10.19 -- -- -- -0.00 -- -- -- -- -- -- -- 0.00 -- -0.00 -- Other Current Liabilities
3,127 3,458 3,226 3,415 3,499 3,082 3,009 3,575 3,424 3,663 4,368 9,400 4,434 6,096 6,589 6,103 6,932 Total Current Liabilities
1,231 956 1,627 1,758 1,975 2,467 2,473 2,280 2,764 2,640 2,357 2,272 7,337 7,661 7,541 8,122 8,093 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 562 Capital Lease Obligation
1,231 956 1,627 1,758 1,975 2,467 2,473 2,280 2,764 2,640 2,357 2,272 7,337 7,661 7,541 8,122 8,655 Long-Term Debt & Capital Lease
Obligation
0.57 0.52 0.58 0.54 0.58 0.72 0.65 0.57 0.64 0.56 0.52 1.39 2.14 3.44 3.32 3.26 3.78 Debt to Equity
-- -- -- -- -- -- -- 388 907 546 708 648 1,140 -- -- -- -- PensionAndRetirementBenefit
687 725 723 627 540 526 272 204 115 280 122 81.59 26.94 162 319 172 142 NonCurrent Deferred Liabilities
238 370 363 441 658 623 733 234 242 357 319 328 304 1,457 1,115 1,066 1,116 Other Long-Term Liabilities
5,283 5,509 5,940 6,241 6,673 6,698 6,486 6,680 7,452 7,486 7,874 12,729 13,242 15,375 15,563 15,464 16,845 Total Liabilities
765 765 765 765 765 765 765 765 765 765 765 765 765 765 765 765 765 Common Stock
3,960 4,552 4,999 5,544 6,041 6,540 7,134 7,682 8,175 8,513 8,771 8,752 9,006 9,448 10,349 11,230 11,640 Retained Earnings
17.64 -13.68 84.62 -4.06 -68.77 -278 -480 -260 -663 -447 -643 -923 -1,358 -1,263 -1,409 -1,600 -1,566 Accumulated other comprehensive
income (loss)
332 389 526 637 712 760 817 888 939 1,060 1,139 1,214 1,281 1,327 1,384 1,457 1,526 Additional Paid-In Capital
-2,510 -2,934 -3,323 -3,664 -4,041 -4,338 -4,408 -4,369 -4,532 -4,699 -4,766 -4,548 -6,215 -7,896 -8,581 -9,350 -9,837 Treasury Stock
2,565 2,759 3,052 3,278 3,409 3,450 3,828 4,705 4,685 5,192 5,267 5,260 3,480 2,382 2,507 2,503 2,528 Total Equity
0.33 0.33 0.34 0.34 0.34 0.34 0.37 0.41 0.39 0.41 0.40 0.29 0.21 0.13 0.14 0.14 0.13 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYY 5/8
Cashflow Statement
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
907 961 855 1,001 1,106 1,056 1,180 1,152 1,122 992 932 687 950 1,143 1,431 1,674 1,813 Net Income
-- -- -- -- -- -- -- -- -- -- -- -- 101 -- -- -- -- Net Foreign Currency Exchange
Gain
907 961 855 1,001 1,106 1,056 1,180 1,152 1,122 992 932 687 950 1,143 1,431 1,674 1,813 Net Income From Continuing
Operations
284 317 345 363 373 382 390 403 417 510 548 553 663 902 765 764 797 Depreciation, Depletion and
Amortization
-177 -72.83 -163 -134 -128 189 -166 -253 -107 -194 -236 -11.74 -27.31 20.45 -37.46 -203 -227 Change In Receivables
-163 -35.01 -119 -95.93 -111 178 -106 -255 -99.22 -180 -196 -125 66.94 -114 -89.74 -115 -190 Change In Inventory
-2.18 -4.06 1.74 -62.77 59.90 -0.68 -6.27 0.34 -6.48 21.70 -24.79 -10.51 -8.47 8.16 -19.64 -18.54 -25.57 Change In Prepaid Assets
95.87 28.08 49.78 85.42 -478 6.88 -83.66 99.86 142 234 430 504 97.81 244 113 389 118 Change In Payables And Accrued
Expense
-670 -679 -696 -618 -636 306 -666 -390 -59.15 -68.57 -67.27 240 -73.87 96.81 -430 -20.03 -374 Change In Working Capital
608 555 482 546 643 -294 -122 -165 -178 -28.13 -30.67 -4.71 93.87 -51.85 188 -127 -114 Change In DeferredTax
-- -- -- -- 80.65 56.03 66.36 59.24 70.32 70.15 74.33 73.77 79.47 83.88 93.84 105 97.35 Stock Based Compensation
62.23 38.34 137 111 29.44 71.05 36.71 32.74 32.39 35.66 37.11 6.28 277 59.23 107 14.85 27.52 Cash Flow from Others
1,191 1,192 1,124 1,403 1,596 1,577 885 1,092 1,404 1,512 1,493 1,555 1,988 2,233 2,155 2,411 2,248 Cash Flow from Operations
-530 -390 -515 -603 -516 -465 -595 -636 -785 -512 -523 -543 -527 -686 -688 -692 -862 Purchase Of Property, Plant,
Equipment
15.85 25.48 22.70 16.01 13.32 25.24 21.71 19.07 8.19 15.53 25.79 24.47 23.51 23.72 22.26 20.94 24.33 Sale Of Property, Plant, Equipment
-- -- -- -- -55.26 -218 -29.29 -101 -111 -397 -79.34 -116 -219 -2,922 -248 -107 -143 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 150 -- Sale Of Business
-- -- -- -- -- -- -85.07 -- -- -- -- -- -104 -- -- -116 -11.42 Purchase Of Investment
-- -- -- -- -- -- 61.57 24.99 -- -- -- -- 57.45 -- -- -- 9.04 Sale Of Investment
-170 -48.72 -117 -61.48 2.34 -1.27 -30.63 13.97 -16.71 -18.10 -0.08 -20.13 -- 6.79 3.25 1.77 -70.75 Cash From Other Investing Activities
-684 -413 -609 -649 -556 -659 -656 -680 -904 -912 -577 -654 -769 -3,578 -910 -743 -1,054 Cash Flow from Investing
168 208 128 222 128 112 94.75 333 -- -- -- -- -- -- -- -- -- Issuance of Stock
-609 -598 -544 -551 -529 -439 -179 -292 -272 -722 -332 -- -1,949 -1,886 -979 -1,022 -913 Repurchase of Stock
107 -42.63 328 17.49 200 496 -3.60 178 357 -138 -158 4,557 -42.09 730 47.10 -270 -29.27 Net Issuance of Debt
-310 -357 -398 -445 -497 -548 -580 -597 -623 -648 -667 -695 -699 -699 -722 -775 -795 Cash Flow for Dividends
-0.19 5.00 -18.63 8.80 0.21 -0.77 95.51 333 95.54 633 242 35.81 230 172 243 230 218 Other Financing
-643 -785 -505 -748 -699 -380 -667 -378 -443 -874 -916 3,898 -2,460 -1,683 -1,410 -1,837 -1,520 Cash Flow from Financing
-138 -8.03 10.22 5.98 344 539 -433 54.32 49.10 -277 0.76 4,717 -1,379 -3,050 -154 -184 -325 Net Change in Cash
-530 -390 -515 -603 -516 -465 -595 -636 -785 -512 -523 -543 -527 -686 -688 -692 -862 Capital Expenditure
661 802 609 800 1,080 1,112 291 455 620 1,000 970 1,013 1,461 1,546 1,468 1,719 1,386 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYY 6/8
Valuation Ratios
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
25.99 24.45 22.31 20.75 15.20 12.70 14.36 15.91 15.61 20.33 23.70 31.12 30.75 24.08 25.20 22.10 19.52 PE Ratio(TTM)
30.14 30.11 32.58 24.26 16.12 13.25 54.73 35.96 22.38 22.88 25.51 22.53 25.03 16.65 24.67 20.94 22.39 Price to Owner Earnings
(TTM)
8.90 8.25 6.20 6.14 4.85 3.84 4.39 3.92 3.73 3.86 4.17 4.08 8.16 11.20 14.18 14.49 13.71 Price to Book
16.97 15.44 11.43 10.99 8.67 7.30 7.74 6.23 6.01 6.46 6.99 6.82 24.68 -- -- -- -- Price to Tangible Book
35.91 29.49 31.51 25.79 15.46 12.00 58.43 40.34 28.28 20.33 22.81 21.35 19.49 17.68 24.54 21.49 25.51 Price-to-Free-Cash-Flow
Ratio
19.92 19.83 17.07 14.71 10.49 8.47 19.17 16.83 12.50 13.44 14.82 13.88 14.42 12.27 16.73 15.31 15.70 Price-to-Operating-Cash-
Flow Ratio
0.81 0.78 0.59 0.59 0.45 0.36 0.46 0.47 0.41 0.46 0.48 0.44 0.58 0.50 0.62 0.62 0.58 PS Ratio
1.63 1.84 2.25 2.61 2.07 1.66 1.85 2.51 4.83 53.50 -- -- -- 5.96 2.14 1.42 1.38 PEG Ratio
0.82 0.79 0.63 0.62 0.48 0.40 0.50 0.52 0.47 0.51 0.52 0.49 0.63 0.61 0.74 0.73 0.72 EV-to-Revenue
13.27 12.58 11.13 10.53 7.94 6.49 7.90 8.72 8.55 10.29 11.30 13.02 13.29 11.44 13.90 14.03 13.19 EV-to-EBITDA
15.72 15.09 13.69 12.77 9.50 7.80 9.46 10.52 10.43 13.42 15.18 18.72 18.35 16.43 18.42 18.56 17.35 EV-to-EBIT
6.36 6.63 7.30 7.83 10.53 12.82 10.57 9.51 9.59 7.45 6.59 5.34 5.45 6.09 5.43 5.39 5.77 Return on Capital %
18.71 16.36 13.79 11.55 12.07 14.05 12.32 10.46 7.36 4.09 1.92 0.16 0.21 8.22 15.29 19.31 20.07 Forward Rate of Return
45.04 39.15 29.10 27.69 20.11 15.36 17.97 18.02 16.36 18.25 19.82 19.80 27.54 26.51 33.90 32.65 30.85 Shiller PE Ratio
1.39 1.60 2.16 2.24 3.09 4.18 3.47 3.30 3.59 3.25 3.07 3.30 2.42 2.58 2.02 2.12 2.37 Dividend Yield %
Valuation and Quality
Jun04 Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 TTM Fiscal Period
22,833 22,748 18,913 20,123 16,540 13,264 16,811 18,445 17,467 20,021 21,950 21,455 28,394 26,677 35,555 36,271 34,624 Market Cap
24,101 23,987 20,474 21,696 17,969 14,722 18,682 20,474 19,797 22,498 24,270 23,647 31,910 34,002 43,330 43,921 43,652 Enterprise Value
35.87 36.19 30.56 32.99 27.51 22.48 28.57 31.18 29.81 34.16 37.45 36.10 50.74 50.33 68.29 70.72 68.09 Month End Stock Price
-7.99 -8.46 -9.27 -9.89 -10.18 -9.63 -9.99 -10.21 -11.54 -12.07 -12.73 -12.79 -16.66 -27.37 -28.83 -29.15 -32.07 Net Cash (per share)
-2.25 -2.40 -2.49 -2.57 -2.49 -2.54 -2.40 -1.60 -2.33 -2.16 -2.03 -2.08 -5.70 -13.85 -14.52 -14.28 -16.08 Net Current Asset Value
(per share)
-4.30 -4.57 -4.96 -5.27 -5.26 -5.09 -5.15 -4.78 -5.89 -5.95 -6.16 -6.29 -9.77 -18.86 -19.96 -19.90 -22.18 Net-Net Working Capital (per
share)
16.67 18.49 19.31 19.83 21.41 21.59 20.03 19.30 18.70 19.05 19.06 18.53 20.36 25.71 34.09 39.96 41.64 Projected FCF (per share)
27.94 33.49 37.61 40.58 44.55 44.75 43.56 42.43 42.56 36.95 37.40 38.34 41.03 47.46 52.21 55.20 56.95 Median PS (per share)
22.02 19.70 13.58 12.62 13.30 13.54 15.46 12.45 -- -- -- -- -- -- 31.92 49.66 56.68 Peter Lynch Fair Value (per
share)
8.07 8.80 9.01 10.40 11.37 11.08 12.85 14.86 14.56 14.10 13.80 11.70 8.71 -- -- -- -- Graham Number (per share)
14.84 17.23 18.16 19.72 20.85 19.67 18.37 19.59 16.30 14.25 14.46 12.16 7.61 2.10 3.07 6.14 5.02 Earnings Power Value
(EPV)
7.77 7.60 6.99 7.15 6.85 6.59 7.01 6.85 6.62 6.73 6.76 4.77 5.80 5.42 5.95 6.20 5.76 Altman Z-Score
5.00 5.00 7.00 7.00 7.00 5.00 6.00 5.00 5.00 4.00 6.00 5.00 7.00 8.00 6.00 8.00 7.00 Piotroski F-Score
-2.47 -2.55 -2.57 -2.66 -2.63 -2.65 -2.34 -2.54 -2.39 -2.58 -2.64 -2.93 -2.70 -2.38 -2.62 -- -- Beneish M-Score
0.55 0.51 0.56 0.54 0.51 0.49 0.56 0.65 0.62 0.63 0.60 0.57 0.39 0.58 0.58 0.56 0.61 Scaled Net Operating
Assets
5.10 2.21 3.78 2.59 0.65 1.36 9.22 6.50 5.12 3.10 0.12 -1.19 -1.61 14.01 1.03 0.03 3.19 Sloan Ratio (%)
1.23 1.16 1.36 1.37 1.48 1.69 1.69 1.60 1.78 1.70 1.53 1.22 2.27 1.32 1.21 1.33 1.25 Current Ratio
0.78 0.73 0.87 0.87 0.95 1.15 1.10 1.02 1.14 1.04 0.93 0.94 1.67 0.83 0.74 0.81 0.74 Quick Ratio
40.90 38.20 37.20 36.95 35.84 34.80 31.54 32.65 31.55 35.24 37.85 41.25 50.74 56.61 68.35 75.78 85.98 Highest Stock Price
28.75 29.89 29.25 26.91 27.48 19.45 21.51 27.29 25.47 28.31 31.16 35.54 35.68 47.26 49.11 59.95 65.24 Lowest Stock Price
1.11 1.25 1.54 1.44 1.43 1.86 0.27 -0.54 0.95 -0.03 -- -1.40 5.84 5.28 1.77 1.49 0.91 Shares Buyback Ratio (%)
11.78 4.51 12.06 7.95 9.65 0.67 1.48 6.46 7.72 4.14 5.18 3.49 6.95 15.72 9.96 3.48 3.10 YoY Rev. per Sh. Growth
(%)
16.10 7.30 -7.48 17.65 13.13 -2.21 12.43 -1.51 -3.06 -12.11 -5.39 -27.22 42.61 26.83 29.81 18.52 24.64 YoY EPS Growth (%)
13.25 6.27 0.38 13.12 12.51 2.23 4.65 0.13 -1.50 -6.13 -1.36 -16.36 36.71 30.19 8.79 1.51 10.79 YoY EBITDA Growth (%)
15.96 13.31 10.06 7.94 7.35 7.65 7.77 6.35 3.23 0.38 -1.33 -3.67 -3.20 4.04 11.78 15.52 14.50 EBITDA 5-Y Growth (%)
643 637 620 618 606 595 592 587 588 589 586 592 573 543 523 517 510 Shares Outstanding (Basic
Average)
637 629 619 610 601 590 588 592 586 586 586 594 560 530 521 513 510 Shares Outstanding (EOP)
0.46 0.68 0.86 1.08 0.95 0.76 0.73 0.63 0.69 0.77 0.83 0.77 0.44 0.41 0.44 0.68 0.56 Beta
09/16/04 09/15/05 09/14/06 08/28/07 08/26/08 08/25/09 08/31/10 08/30/11 08/28/12 08/27/13 08/26/14 08/25/15 08/30/16 08/30/17 08/27/18 08/26/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYY 7/8
09/15/05 09/14/06 09/14/06 08/28/07 08/25/09 08/31/10 08/28/12 08/27/13 08/26/14 08/25/15 08/30/16 08/30/17 08/27/18 08/26/19 08/26/19 08/26/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/SYY 8/8
Alliance Data Systems Corp (NYSE:ADS) 03/03/2020 2:00PM EST GuruFocus
Price: $ 80.44 -5.63(-6.54%) Market Cap: $ 3.83 B Enterprise Value: $10.4 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 13.52
Cash to Debt 0.37 Operating margin (%) 24.71
Forward P/E N/A
Equity to Asset 0.06 Net-margin (%) 5.57
PE(NRI) 7.18
Interest Coverage 2.40 ROE (%) 15.42
F-Score:
P/B 2.27
ROA (%) 1.08
6 P/S 0.72
Z-Score: ROC (Joel Greenblatt) (%) 251.14
1.48 PFCF 4.01
Revenue Growth (3Y)(%) -3.30
M-Score: POCF 3.54
-3.86 EBITDA Growth (3Y)(%) 0.40
EV-to-EBIT 7.86
WACC vs 5.70% EPS Growth (3Y)(%) 15.30
ROIC 10.74% PEG 0.85
WACC
ROIC Shiller P/E 8.90
Current Ratio 25.14
Quick Ratio 25.14
Days Inventory 33.78
Days Sales Outstanding 29.48
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Alliance Data Systems was born of the 1996 combination of a J.C. Penney transaction-processing operation and The
Limited's credit card bank business. With headquarters in Plano, Texas, Alliance provides marketing, loyalty program,
2016 1,676 1,749 1,886 1,828 7,138 and private-label credit card services. The company is known for its large Air Miles loyalty program in Canada. The
2017 1,879 1,822 1,912 2,106 7,719 private-label services and credit group is financially the company's most important operating segment.... (Read More)
Good Signs 2018 1,382 1,397 1,423 3,589
, , , ,
7,791 Competitors: BOM:532810 TSE:8252 XTER:GLJ NAS:SLM BOM:533398 NSE:SRTRANSFIN BKK:MTC
, , ,
TSE:8593, BOM:532955, OSTO:INTRUM, NSE:CHOLAFIN, NAS:FCFS, BOM:533519, BKK:KTC, TSE:8570,
Operating Margin %: 2019 1,334 1,349 1,438 1,461 5,581 NSE:M&MFIN, TSE:8586, NYSE:ORCC, BKK:SAWAD, XKRX:029780
Expansion 2020
Insider Trades
Dividend Yield %: Close to 5- Quarterly Earnings per Share
year high Mar Jun Sep Dec Full Year
Price: Close to 5-year low 2016 2.35 1.24 3.55 0.18 7.32
2017 2.58 2.47 4.20 4.88 14.13
PB Ratio: Close to 10-year 2018 2.95 3.93 5.39 5.25 17.52
low 2019 2.80 2.64 -2.22 2.73 5.95
2020
DCF Quarterly Dividends Per Share
EPS without NRI: $11.19 Mar Jun Sep Dec Full Year
Growth Rate in the next 10 2016 0.00 0.00 0.00 0.52 0.52
years: 15.80% 2017 0.52 0.52 0.52 0.52 2.08
Terminal Growth Rate for 10 2018 0.57 0.57 0.57 0.57 2.28
years: 4% 2019 0.63 0.63 0.63 0.63 2.52
Fair Value: $241.35 2020
Growth Rate
Reverse DCF
Annual Rates(per share) 10-Y 5-Y 12-M
Expected eps Growth Rate: -
Revenue Growth (%) 14.40 6.90 -22.50
1.43%
EBITDA Growth (%) 14.00 9.10 -29.20
Free Cash Flow Growth (%) 16.10 7.80 -54.40
Book Value Growth (%) 40.30 1.90 -19.40
EPS Growth (%) 15.80 13.70 -35.70
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADS 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
14.96 18.34 20.21 24.28 27.50 34.04 50.11 54.90 56.77 64.59 84.98 103 121 138 141 110 110 Revenue per Share
3.14 3.97 6.10 7.43 8.21 9.24 13.87 16.71 17.79 19.67 22.62 28.15 30.18 38.34 43.22 30.58 30.49 EBITDA per Share
2.05 2.80 4.57 5.37 6.26 7.07 11.30 14.06 15.19 16.44 17.60 20.25 21.49 29.44 34.38 25.69 25.65 EBIT per Share
1.22 1.64 2.32 2.03 2.80 2.49 3.48 5.45 6.58 7.42 7.87 8.85 7.34 14.10 17.49 6.02 5.95 Earnings per Share (diluted)
1.22 1.64 2.32 2.65 3.16 3.06 3.51 5.45 6.58 7.42 7.87 8.85 7.34 14.10 17.49 11.24 11.19 eps without NRI
2.44 0.50 3.45 5.03 6.32 1.78 6.47 9.42 10.09 7.57 10.07 13.01 8.77 19.74 20.45 -2.01 -2.01 Owner Earnings per Share (TTM)
3.57 0.51 3.64 5.63 5.45 5.29 14.97 16.23 15.87 12.98 19.00 25.17 32.60 42.46 46.37 21.13 20.00 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- -- 0.52 2.08 2.28 2.52 2.52 Dividends per Share
10.57 11.46 13.45 15.20 9.18 5.23 0.45 3.53 10.65 16.60 37.55 33.02 28.89 33.49 43.67 35.20 35.20 Book Value per Share
-0.88 -2.52 -2.04 -4.22 -14.84 -23.18 -29.46 -33.25 -36.40 -26.00 -46.78 -49.41 -54.81 -51.00 -38.36 11.14 11.14 Tangible Book per Share
5.31 10.41 9.36 12.16 32.30 48.94 108 43.82 141 143 147 189 219 269 251 227 227 Total Debt per Share
47.48 35.60 62.47 74.99 46.53 64.59 71.03 104 145 263 286 277 229 253 150 112 80.44 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
13.02 15.49 19.03 14.46 23.67 35.05 131 317 120 71.69 30.23 25.03 23.57 44.90 46.00 15.73 15.42 Return on Equity %
4.99 5.37 5.99 4.34 4.85 3.00 2.87 3.65 4.03 3.93 3.02 2.80 2.16 2.81 3.15 1.09 1.08 Return on Assets %
122 152 118 118 213 245 375 444 435 398 256 222 218 274 313 276 251 Return on Capital %
9.54 10.41 14.25 14.80 13.34 10.50 9.86 13.19 13.75 9.89 7.52 7.47 6.34 9.64 12.21 10.67 10.74 Return on Invested Capital %
11.50 12.46 12.41 12.31 8.37 11.49 9.29 7.38 6.02 7.15 9.45 7.78 8.36 7.53 8.22 6.16 5.70 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.58 6.46 7.87 7.74 6.36 4.25 3.10 3.16 3.56 4.11 4.74 4.77 4.81 Effective Interest Rate on Debt %
27.14 27.56 33.60 33.51 33.74 31.06 44.64 42.90 42.15 40.98 39.30 40.77 40.08 44.69 45.82 49.14 51.43 Gross Margin %
13.69 15.24 22.62 22.10 22.89 19.60 22.54 25.61 26.76 25.44 20.71 20.60 17.73 21.32 24.31 24.71 24.71 Operating Margin %
8.14 8.94 11.49 8.36 10.19 7.32 6.94 9.94 11.60 11.49 9.55 9.26 7.23 10.22 12.36 5.57 5.57 Net Margin %
23.88 2.78 18.03 23.18 19.82 15.55 29.88 29.55 27.95 20.10 22.36 24.35 26.90 30.75 32.79 19.27 19.27 FCF Margin %
0.50 0.91 0.70 0.80 3.52 9.37 239 12.41 13.22 8.64 3.92 5.72 7.57 8.02 5.74 6.45 6.45 Debt to Equity
0.39 0.32 0.32 0.29 0.13 0.05 0.00 0.02 0.04 0.07 0.12 0.09 0.07 0.06 0.08 0.06 0.06 Total Equity to Total Asset
0.20 0.29 0.22 0.23 0.44 0.49 0.67 0.24 0.58 0.56 0.46 0.52 0.49 0.49 0.44 0.39 0.39 Total Debt to Total Asset
16.62 16.57 17.52 17.38 16.07 12.76 18.46 15.78 14.63 14.02 12.44 12.32 11.96 12.28 11.69 9.64 9.95 Gross Profit to Total Asset %
0.61 0.60 0.52 0.52 0.48 0.41 0.41 0.37 0.35 0.34 0.32 0.30 0.30 0.28 0.26 0.20 0.19 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- 0.07 0.15 0.13 0.22 0.22 Dividend Payout Ratio
45.93 47.94 186 164 39.32 41.85 34.12 34.61 37.10 33.37 51.16 40.04 40.76 38.88 43.28 -- 29.48 Days Sales Outstanding
22.39 21.87 37.50 37.45 29.16 28.00 28.78 30.18 37.33 30.07 51.67 42.33 48.50 55.67 48.28 -- 58.75 Days Accounts Payable
-- -- -- -- -- -- -- -- -- -- -- 10.91 21.31 21.60 21.01 16.20 33.78 Days Inventory
23.54 26.07 148 126 10.16 13.85 5.34 4.43 -0.23 3.30 -0.51 8.62 13.57 4.81 16.01 16.20 4.51 Cash Conversion Cycle
-- -- -- -- -- -- -- -- -- -- -- 33.46 17.13 16.90 17.37 22.54 10.81 Inventory Turnover
0.73 0.72 0.66 0.66 0.66 0.69 0.55 0.57 0.58 0.59 0.61 0.59 0.60 0.55 0.54 0.51 0.49 COGS to Revenue
-- -- -- -- -- -- -- -- -- -- -- 0.02 0.04 0.03 0.03 0.02 0.05 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADS 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,257 1,552 1,651 1,962 2,025 1,964 2,791 3,173 3,641 4,319 5,303 6,440 7,138 7,719 7,791 5,581 5,581 Revenue
916 1,125 1,096 1,305 1,342 1,354 1,545 1,812 2,107 2,549 3,219 3,814 4,277 4,270 4,221 2,838 2,711 Cost of Goods Sold
341 428 555 658 683 610 1,246 1,361 1,535 1,770 2,084 2,625 2,861 3,450 3,570 2,743 2,870 Gross Profit
27.14 27.56 33.60 33.51 33.74 31.06 44.64 42.90 42.15 40.98 39.30 40.77 40.08 44.69 45.82 49.14 51.43 Gross Margin %
77.74 91.53 91.82 80.90 82.80 99.82 85.77 95.26 108 109 142 139 143 166 173 -- 179 Selling, General, & Admin. Expense
91.40 99.71 89.43 143 137 125 531 453 452 562 844 1,160 1,453 1,638 1,503 1,364 1,364 Other Operating Expense
172 237 373 434 464 385 629 813 974 1,099 1,098 1,326 1,266 1,646 1,894 1,379 1,379 Operating Income
13.69 15.24 22.62 22.10 22.89 19.60 22.54 25.61 26.76 25.44 20.71 20.60 17.73 21.32 24.31 24.71 24.71 Operating Margin %
-- -- -- -- -80.44 -145 -318 -299 -291 -306 -261 -330 -429 -564 -671 -569 -575 Interest Expense
-- -- -- -- -80.44 -145 -318 -299 -291 -306 -261 -330 -429 -564 -671 -569 -575 Net Interest Income
-7.78 -14.48 -40.72 -81.73 -3.05 22.66 -- 0.00 -- -- -- -64.60 -- -- 0.00 -71.90 -71.90 Other Income (Expense)
-- -- -- -- -- -- -- -- -- -- -9.80 -8.90 -1.80 -- -- -- -- Other Income (Minority Interest)
164 222 333 352 380 263 311 514 683 793 838 932 837 1,081 1,224 738 733 Pre-Tax Income
-61.95 -83.38 -126 -137 -148 -86.23 -115 -199 -261 -297 -322 -326 -319 -292 -261 -166 -164 Tax Provision
37.70 37.54 37.96 39.05 38.83 32.79 37.07 38.67 38.17 37.46 38.41 35.02 38.16 27.05 21.30 22.45 22.39 Tax Rate %
102 139 206 214 233 177 196 315 422 496 516 605 518 789 963 573 569 Net Income (Continuing Operations)
-- -- -16.79 -50.38 -26.15 -32.99 -1.90 -- -- -- -- -- -- -- -- -262 -258 Net Income (Discontinued
Operations)
102 139 190 164 206 144 194 315 422 496 506 597 516 789 963 311 311 Net Income
8.14 8.94 11.49 8.36 10.19 7.32 6.94 9.94 11.60 11.49 9.55 9.26 7.23 10.22 12.36 5.57 5.57 Net Margin %
1.27 1.69 2.38 2.09 2.88 2.58 3.69 6.22 8.44 10.09 8.72 8.91 7.37 14.17 17.56 6.02 5.97 EPS (Basic)
1.22 1.64 2.32 2.03 2.80 2.49 3.48 5.45 6.58 7.42 7.87 8.85 7.34 14.10 17.49 6.02 5.95 EPS (Diluted)
84.04 84.64 81.69 80.81 73.64 57.71 55.71 57.80 64.14 66.87 62.40 62.30 58.90 55.90 55.10 50.90 47.60 Shares Outstanding (Diluted
Average)
91.40 99.71 125 167 144 125 143 153 167 216 313 492 512 498 487 249 249 Depreciation, Depletion and
Amortization
263 336 498 600 604 533 772 966 1,141 1,315 1,412 1,754 1,778 2,143 2,382 1,557 1,557 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADS 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
84.41 143 180 219 157 213 139 216 893 970 1,077 1,168 1,859 4,190 3,863 3,874 3,874 Cash And Cash Equivalents
84.41 143 180 219 157 213 139 216 893 970 1,077 1,168 1,859 4,190 3,863 3,874 3,874 Cash, Cash Equivalents, Marketable
Securities
158 204 841 881 218 225 261 301 370 395 743 707 797 822 924 -- -- Accounts Receivable
-- -- -- -- -- -- -- -- -- -- -- 228 271 234 252 -- -- Inventories, Other
-- -- -- -- -- -- -- -- -- -- -- 228 271 234 252 -- -- Total Inventories
116 158 289 893 937 1,008 891 892 901 966 1,321 1,090 1,066 1,965 2,856 1,009 1,009 Other Current Assets
617 1,042 1,310 1,993 1,925 2,360 6,130 6,607 9,132 10,401 13,815 16,250 19,589 24,706 24,712 23,175 23,175 Total Current Assets
53.68 58.22 63.53 69.93 -- -- -- -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
161 181 214 181 152 162 380 484 519 637 867 972 1,082 1,210 1,344 -- -- Machinery, Furniture, Equipment
9.89 7.69 10.78 11.18 5.78 16.67 5.38 26.37 59.42 49.49 44.74 80.20 74.60 76.50 63.50 -- -- Construction In Progress
364 414 476 419 408 440 502 598 678 793 1,017 1,159 1,304 1,478 1,622 264 264 Gross Property, Plant and Equipment
-216 -251 -267 -227 -240 -275 -331 -403 -425 -494 -457 -582 -718 -864 -1,027 -- -- Accumulated Depreciation
148 163 208 193 168 165 171 195 253 299 560 577 586 614 595 264 264 Property, Plant and Equipment
943 1,123 1,234 1,529 1,432 1,483 1,536 1,833 2,334 2,196 5,381 5,018 4,804 4,681 4,381 1,108 1,108 Intangible Assets
-- 858 970 1,186 1,134 1,166 1,222 1,449 1,751 1,736 3,865 3,814 3,801 3,880 3,841 955 955 Goodwill
531 597 652 447 818 1,218 436 345 281 348 508 505 535 685 700 1,947 1,947 Other Long Term Assets
2,239 2,926 3,404 4,162 4,342 5,226 8,272 8,980 12,000 13,244 20,264 22,350 25,514 30,685 30,388 26,495 26,495 Total Assets
56.21 67.38 113 134 107 104 122 150 215 210 456 442 568 651 558 -- -- Accounts Payable
-- -- -- -- -- -- 22.55 30.45 48.20 18.18 34.46 103 25.30 64.60 24.00 -- -- Total Tax Payable
198 266 314 340 251 232 198 356 490 472 913 1,009 915 1,094 979 -- -- Accounts Payable & Accrued
Expense
231 578 7.90 314 709 824 2,000 19.83 2,277 1,389 1,267 1,419 2,454 1,471 2,862 -- -- Current Portion of Long-Term Debt
-- -- -- 683 860 985 1,044 1,679 2,148 2,510 3,492 3,679 5,461 7,213 7,304 922 922 Current Deferred Revenue
-- -- -- -- -- -- -- -- -- -- 0.93 1.70 -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- 683 860 985 1,044 1,679 2,148 2,510 3,493 3,681 5,461 7,213 7,304 922 922 DeferredTaxAndRevenue
132 204 555 678 129 88.72 620 1,800 117 140 632 295 400 369 339 -- -- Other Current Liabilities
561 1,049 878 2,015 1,949 2,130 3,862 3,855 5,033 4,512 6,305 6,403 9,230 10,147 11,484 922 922 Total Current Liabilities
207 259 737 644 1,216 1,730 3,530 2,164 4,708 6,003 8,134 10,081 10,103 13,416 10,528 10,134 10,134 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 314 314 Capital Lease Obligation
207 259 737 644 1,216 1,730 3,530 2,164 4,708 6,003 8,134 10,081 10,103 13,416 10,528 10,448 10,448 Long-Term Debt & Capital Lease
Obligation
0.50 0.91 0.70 0.80 3.52 9.37 239 12.41 13.22 8.64 3.92 5.72 7.57 8.02 5.74 6.45 6.45 Debt to Equity
49.28 62.85 44.23 58.80 259 302 259 1,053 1,607 1,719 2,985 3,403 4,197 4,896 5,622 12,152 12,152 NonCurrent Deferred Liabilities
552 635 673 248 371 791 597 1,732 124 154 443 452 326 422 1,352 1,352 Other Long-Term Liabilities
371
1,369 2,005 2,332 2,965 3,795 4,953 8,249 8,804 11,472 12,388 17,868 20,340 23,856 28,830 28,056 24,874 24,874 Total Liabilities
0.83 0.85 0.87 0.88 0.89 0.91 0.93 0.94 0.95 0.98 1.12 1.10 1.10 1.10 1.10 -- -- Common Stock
199 338 528 683 889 1,033 816 1,131 1,553 2,049 2,541 3,093 3,495 4,167 5,012 -- -- Retained Earnings
-3.27 -6.42 9.25 24.04 -47.85 -65.74 -34.50 -23.06 -21.86 -18.23 -75.45 -137 -151 -140 -138 -- -- Accumulated other comprehensive
income (loss)
680 744 835 899 1,115 1,236 1,321 1,388 1,454 1,513 2,906 2,981 3,046 3,100 3,172 -- -- Additional Paid-In Capital
-6.15 -155 -301 -409 -1,410 -1,931 -2,080 -2,321 -2,458 -2,689 -2,976 -3,927 -4,733 -5,273 -5,716 -- -- Treasury Stock
871 921 1,072 1,197 547 273 23.09 176 528 856 2,396 2,010 1,658 1,855 2,332 1,621 1,621 Total Equity
0.39 0.32 0.32 0.29 0.13 0.05 0.00 0.02 0.04 0.07 0.12 0.09 0.07 0.06 0.08 0.06 0.06 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADS 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
102 139 190 164 206 144 194 315 422 496 516 605 518 789 963 311 311 Net Income
102 139 190 164 206 144 194 315 422 496 516 605 518 789 963 311 311 Net Income From Continuing
Operations
91.40 99.71 125 167 144 125 143 153 167 216 313 492 512 498 487 249 249 Depreciation, Depletion and
Amortization
-0.60 -224 -50.95 -24.04 -17.01 -2.16 -44.04 -32.16 -49.22 -33.41 -156 8.30 -95.60 -10.30 -93.00 -- -- Change In Receivables
-7.39 42.76 57.08 66.65 -52.91 -39.46 61.16 53.68 115 -28.01 126 121 -9.60 167 -93.70 -- -- Change In Payables And Accrued
Expense
19.70 -142 48.52 170 113 -117 70.56 104 38.34 -177 -96.70 -52.30 -348 84.30 -184 -302 -302 Change In Working Capital
31.15 -13.48 -27.77 -27.73 21.10 17.48 19.06 47.04 102 42.91 -13.40 -121 -30.80 -114 16.30 -179 -179 Change In DeferredTax
-- -- -- -- 54.33 53.70 50.09 43.49 50.50 59.18 72.50 91.30 76.50 75.10 80.80 54.80 54.80 Stock Based Compensation
104 26.55 62.51 99.01 -106 135 426 348 354 366 553 745 1,399 1,267 1,392 1,032 1,084 Cash Flow from Others
349 109 398 572 451 358 903 1,011 1,134 1,003 1,344 1,760 2,127 2,599 2,755 1,218 1,218 Cash Flow from Operations
-48.33 -65.90 -100 -117 -49.56 -52.97 -68.76 -73.50 -116 -135 -159 -192 -207 -225 -200 -142 -142 Purchase Of Property, Plant,
Equipment
-- -- -- 12.35 14.10 -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -2.48 -164 -117 -359 -464 -- -1,196 -45.40 -- -946 -- -- -6.70 Purchase Of Business
-- -- -- -- 138 -- -- -- -- -- -- -- -- -- -- 4,410 -- Sale Of Business
-- -- -- -8.00 -637 -574 -5.47 -101 -814 -81.79 -1,079 -282 -1,027 -101 -89.50 -925 -925 Purchase Of Investment
-- -- -- -- 91.91 4.01 -- -- 15.65 2.85 7.20 38.70 525 840 1,201 2,062 2,062 Sale Of Investment
-352 -265 -372 -583 -67.25 -101 -150 -507 -1,293 -1,405 -2,311 -2,882 -3,583 -3,836 -2,784 -2,544 1,873 Cash From Other Investing Activities
-400 -331 -472 -695 -513 -888 -341 -1,041 -2,671 -1,619 -4,737 -3,363 -4,292 -4,268 -1,872 2,861 2,861 Cash Flow from Investing
34.53 29.11 48.83 20.89 30.92 28.86 33.85 29.41 20.70 14.09 17.10 18.00 18.40 18.40 17.60 -- -- Issuance of Stock
-- -145 -146 -109 -1,001 -446 -149 -241 -126 -231 -287 -952 -799 -554 -443 -976 -976 Repurchase of Stock
-58.76 15.42 196 253 -175 1,023 -4.77 -156 1,460 341 1,851 2,160 1,075 2,208 -1,474 -3,238 -3,238 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -- -- -30.00 -116 -125 -127 -127 Cash Flow for Dividends
90.60 379 13.47 31.80 1,124 -35.78 -596 477 855 580 1,935 492 2,373 2,448 807 250 250 Other Financing
66.37 279 112 197 -20.31 570 -716 109 2,209 704 3,516 1,719 2,637 4,005 -1,218 -4,092 -4,092 Cash Flow from Financing
16.66 58.80 36.86 85.76 -109 56.47 -156 77.10 677 76.47 107 90.80 487 2,346 -347 -9.60 -9.60 Net Change in Cash
-48.33 -65.90 -100 -117 -49.56 -52.97 -68.76 -73.50 -116 -135 -159 -192 -207 -225 -200 -142 -142 Capital Expenditure
300 43.18 298 455 401 305 834 938 1,018 868 1,186 1,568 1,920 2,374 2,555 1,075 1,075 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADS 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
38.92 21.84 26.93 36.94 16.44 25.84 20.41 19.05 21.93 35.39 36.35 31.36 31.22 17.94 8.57 18.86 13.52 PE Ratio(TTM)
19.43 71.49 18.11 14.92 7.36 36.33 10.97 11.02 14.35 34.74 28.41 21.27 26.06 12.84 7.34 -- -- Price to Owner Earnings
(TTM)
4.49 3.11 4.64 4.93 5.07 12.36 158 29.41 13.59 15.84 7.62 8.38 7.91 7.57 3.44 3.19 2.27 Price to Book
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 10.07 7.22 Price to Tangible Book
13.33 77.06 17.16 13.31 9.79 12.21 4.75 6.41 9.16 20.27 14.99 10.91 6.97 5.96 3.23 5.61 4.01 Price-to-Free-Cash-Flow
Ratio
11.48 28.69 12.84 10.60 8.58 10.40 4.38 5.95 8.21 17.53 13.23 9.73 6.30 5.45 3.00 4.93 3.54 Price-to-Operating-Cash-
Flow Ratio
3.18 1.94 3.09 3.37 1.68 1.90 1.42 1.89 2.55 4.07 3.36 2.67 1.88 1.84 1.06 1.02 0.72 PS Ratio
-- 1.04 1.37 1.51 0.59 0.83 0.89 0.85 0.96 1.67 2.38 2.45 2.12 1.13 0.49 0.76 0.85 PEG Ratio
3.39 2.29 3.36 3.70 2.24 2.91 3.24 2.25 3.65 4.63 5.01 4.22 3.34 3.20 2.25 2.10 1.83 EV-to-Revenue
16.18 10.57 11.12 10.66 7.51 10.72 11.70 7.39 11.63 15.19 18.83 15.49 13.40 11.54 6.74 7.54 6.58 EV-to-EBITDA
24.77 15.03 14.84 14.54 9.86 14.01 14.37 8.79 13.62 18.18 24.20 21.53 18.82 15.04 9.26 8.98 7.86 EV-to-EBIT
4.04 6.65 6.74 6.88 10.14 7.14 6.96 11.38 7.34 5.50 4.13 4.64 5.31 6.65 10.80 11.14 12.75 Return on Capital %
-- 24.20 22.85 21.22 27.40 26.03 28.87 28.63 27.77 24.47 20.61 19.17 23.87 26.16 38.53 42.41 51.30 Forward Rate of Return
-- -- -- -- -- -- 39.37 42.97 47.02 69.72 65.06 54.03 40.29 36.15 17.50 12.41 8.90 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- -- -- 0.23 0.82 1.52 2.25 3.14 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,910 2,862 4,976 5,906 2,774 3,372 3,649 5,174 7,181 13,554 18,253 16,837 13,116 14,043 8,014 5,168 3,831 Market Cap
4,263 3,556 5,541 6,645 4,542 5,713 9,040 7,142 13,273 19,976 26,577 27,169 23,814 24,740 17,541 11,741 10,405 Enterprise Value
47.48 35.60 62.47 74.99 46.53 64.59 71.03 104 145 263 286 277 229 253 150 112 80.44 Month End Stock Price
-15.59 -23.15 -27.02 -34.87 -61.03 -90.80 -158 -172 -213 -222 -263 -315 -383 -445 -453 -456 -456 Net Cash (per share)
-9.12 -11.97 -12.84 -12.34 -31.37 -49.68 -41.26 -44.10 -47.16 -38.56 -63.51 -67.18 -74.33 -74.44 -62.62 -36.88 -36.88 Net Current Asset Value
(per share)
-14.15 -21.25 -19.10 -26.48 -58.28 -87.56 -154 -168 -208 -216 -254 -304 -370 -432 -438 -456 -456 Net-Net Working Capital (per
share)
-- 20.90 38.38 49.97 65.66 82.25 105 138 155 174 241 285 343 425 513 477 477 Projected FCF (per share)
-- -- -- -- -- -- 112 121 133 161 214 268 286 286 283 216 216 Median PS (per share)
-- 34.21 45.73 49.81 79.25 76.50 79.85 122 151 158 120 113 108 225 304 147 147 Peter Lynch Fair Value (per
share)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 53.08 52.96 Graham Number (per share)
7.70 10.68 10.47 16.07 5.92 3.99 -39.42 29.45 -28.28 -21.60 -38.49 -53.56 -55.64 -40.44 9.25 92.14 92.14 Earnings Power Value
(EPV)
2.67 1.80 2.46 2.15 1.47 1.37 1.32 1.55 1.54 2.01 1.67 1.69 1.45 1.48 1.39 1.51 1.48 Altman Z-Score
6.00 7.00 7.00 6.00 5.00 5.00 8.00 6.00 6.00 4.00 5.00 6.00 6.00 7.00 7.00 6.00 6.00 Piotroski F-Score
-2.81 -2.33 -0.19 -3.07 -3.29 -2.65 -3.06 -2.59 -2.65 -2.59 -1.71 -2.80 -2.71 -2.86 -2.66 -3.86 -3.86 Beneish M-Score
0.66 0.72 0.56 0.57 0.56 0.60 1.04 0.26 0.74 0.61 0.81 0.61 0.55 0.49 0.39 0.27 0.30 Scaled Net Operating
Assets
6.86 12.32 7.75 6.90 6.17 12.89 -4.45 3.84 16.33 8.40 19.24 9.84 10.50 8.01 0.26 -14.22 -14.22 Sloan Ratio (%)
1.10 0.99 1.49 0.99 0.99 1.11 1.59 1.71 1.81 2.30 2.19 2.54 2.12 2.43 2.15 25.14 25.14 Current Ratio
1.10 0.99 1.49 0.99 0.99 1.11 1.59 1.71 1.81 2.30 2.19 2.50 2.09 2.41 2.13 25.14 25.14 Quick Ratio
48.52 46.66 66.00 80.72 74.99 68.52 77.98 106 148 263 294 310 277 265 276 182 183 Highest Stock Price
26.92 32.79 35.60 57.14 37.00 23.78 53.05 70.68 101 145 234 247 177 210 144 100.00 79.88 Lowest Stock Price
-3.42 2.36 0.93 1.12 24.32 12.43 1.59 3.00 0.46 -3.93 -23.79 4.60 5.71 3.48 3.61 13.75 13.75 Shares Buyback Ratio (%)
14.54 22.59 10.16 20.17 13.27 23.77 47.20 9.56 3.41 13.78 31.57 21.63 17.24 13.95 2.40 -22.45 -22.65 YoY Rev. per Sh. Growth
(%)
45.24 34.43 41.46 -12.50 37.93 -11.07 39.76 56.61 20.73 12.77 6.06 12.45 -17.06 92.10 24.04 -65.58 -66.04 YoY EPS Growth (%)
22.32 26.76 53.55 21.71 10.52 12.56 50.07 20.51 6.48 10.54 15.01 24.47 7.20 27.03 12.74 -29.24 -35.66 YoY EBITDA Growth (%)
-- 20.99 19.71 17.54 25.09 25.49 22.75 22.38 22.90 21.23 15.30 12.78 14.72 15.92 17.14 13.13 9.10 EBITDA 5-Y Growth (%)
80.61 82.21 79.74 78.40 71.50 55.77 52.53 50.69 50.01 49.19 56.40 61.90 58.60 55.70 54.90 50.00 47.10 Shares Outstanding (Basic
Average)
82.35 80.41 79.65 78.76 59.61 52.20 51.37 49.83 49.60 51.55 63.81 60.88 57.40 55.40 53.40 46.06 46.06 Shares Outstanding (EOP)
1.34 1.61 1.54 1.72 1.68 1.77 1.62 1.52 1.03 0.93 1.62 1.41 1.85 1.57 2.17 1.76 1.75 Beta
03/04/05 03/03/06 02/26/07 02/28/08 03/02/09 03/01/10 02/28/11 02/27/12 02/28/13 02/28/14 02/27/15 02/25/16 02/27/17 02/27/18 02/26/19 01/30/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADS 6/7
03/03/06 02/26/07 02/28/08 03/02/09 03/01/10 02/28/11 02/28/13 02/28/14 02/27/15 02/25/16 02/27/17 02/27/18 02/26/19 02/26/19 02/26/19 01/30/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ADS 7/7
Concho Resources Inc (NYSE:CXO) 03/03/2020 2:00PM EST GuruFocus
Price: $ 67.13 -1.93(-2.79%) Market Cap: $ 13.2 B Enterprise Value: $17.09 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.02 Operating margin (%) 19.84
P/B 0.76
Equity to Asset 0.72 Net-margin (%) -15.35
P/S 2.91
Interest Coverage 4.92 ROE (%) -3.88
F-Score:
POCF 4.70
ROA (%) -2.74
4 EV-to-EBIT -25.36
Z-Score: ROC (Joel Greenblatt) (%) -3.04
1.45 Shiller P/E 25.83
Revenue Growth (3Y)(%) 23.90
M-Score: Current Ratio 0.89
-2.70 EPS Growth (3Y)(%) 31.10
Quick Ratio 0.87
WACC vs 9.33%
ROIC 3.31% Days Inventory 3.90
WACC
ROIC Days Sales Outstanding 70.58
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Declined Mar Jun Sep Dec Full Year Concho Resources is an independent oil and natural gas company with operations primarily in the Permian Basin of
western Texas and southeastern New Mexico. At the end of 2018, it reported proved reserves of 1.2 billion barrels of
2016 284 396 430 525 1,635 oil equivalent. Net production averaged about 263 thousand boe per day in 2018, of which 64% was oil (with natural
ROIC vs. WACC: Return on
2017 612 567 627 780 2,586 gas and natural gas liquids making up the remainder).... (Read More)
invested capital is less than , , , , , , ,
2018 947 945 1,192 1,067 4,151 Competitors: BKK:PTTEP TSE:1605 NAS:FANG NYSE:HES ASX:STO NYSE:APA ASX:WPL
weighted average cost of OSL:AKERBP, NYSE:CLR, OSTO:LUPE, NAS:NBL, NYSE:MRO, NYSE:DVN, NYSE:PXD, NYSE:PE, NAS:SNDE,
2019 1,104 1,127 1,115 1,246 4,592 ASX:OSH, NYSE:TPL, NYSE:COG, HKSE:00467
capital.
2020
Insider Trades
Quarterly Earnings per Share
Good Signs
Mar Jun Sep Dec Full Year
Dividend Yield %: Close to 2- 2016 -7.95 -2.04 -0.38 -0.86 -11.23
year high 2017 4.37 1.02 -0.77 1.79 6.41
Price: Close to 5-year low 2018 5.58 0.92 -1.05 7.55 13.00
2019 -3.49 -0.48 2.78 -2.38 -3.57
PS Ratio: Close to 10-year 2020
low
Quarterly Dividends Per Share
DCF Mar Jun Sep Dec Full Year
2016 0.00 0.00 0.00 0.00 0.00
GuruFocus does not 2017 0.00 0.00 0.00 0.00 0.00
calculate intrinsic value: DCF 2018 0.00 0.00 0.00 0.00 0.00
(Earnings Based) for 2019 0.13 0.13 0.13 0.13 0.50
companies with one star 2020
predictability or not rated. But
you can go to each stock's Growth Rate
DCF page to calculate Annual Rates(per share) 10-Y 5-Y 12-M
yourself.
Revenue Growth (%) 9.40 4.50 -4.80
EBITDA Growth (%) 0.00 0.00 -75.40
Reverse DCF
Free Cash Flow Growth (%) 12.50 31.90 0.00
GuruFocus does not
Book Value Growth (%) 17.60 15.50 -4.60
calculate reverse DCF growth
rate for companies with one EPS Growth (%) 0.00 0.00 -126.80
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CXO 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3.64 13.53 3.91 4.44 6.18 6.02 9.07 15.61 17.50 22.33 24.38 14.99 12.13 17.48 24.24 23.08 23.08 Revenue per Share
3.64 5.00 2.68 2.33 7.12 2.17 5.48 11.54 13.52 12.98 18.71 12.75 -7.18 14.69 26.37 6.48 6.47 EBITDA per Share
3.64 2.14 1.45 1.17 5.67 -0.09 3.22 7.69 7.98 5.54 9.73 2.59 -15.84 6.94 17.74 -3.39 -3.41 EBIT per Share
-3.48 -0.70 0.59 0.38 3.46 -0.12 2.18 5.28 4.15 2.39 4.88 0.54 -10.85 6.41 13.25 -3.55 -3.57 Earnings per Share (diluted)
-3.48 -0.70 0.59 0.38 3.35 -0.16 1.57 4.05 3.93 2.28 4.88 0.54 -10.85 6.41 13.25 -3.55 -3.57 eps without NRI
-- -- -- -- -- -4.29 -4.11 1.17 -1.65 -4.34 -0.50 -3.45 -20.65 1.21 11.17 -5.46 -5.46 Owner Earnings per Share (TTM)
-- -8.53 -9.55 0.07 -6.82 -3.70 -15.80 -5.27 -14.78 -4.98 -7.73 -8.15 -7.97 -5.66 -0.96 -2.03 -2.03 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.50 0.50 Dividends per Share
-- 26.99 11.34 10.23 15.64 15.56 23.19 28.74 33.14 35.76 46.73 53.76 52.19 59.94 93.72 89.36 89.75 Book Value per Share
-- 26.99 11.34 10.23 15.20 15.14 22.85 28.42 32.86 35.49 46.49 53.56 52.03 59.77 82.52 79.65 79.99 Tangible Book per Share
-- 17.76 9.81 4.51 7.73 9.90 16.35 20.44 29.88 34.89 31.52 25.80 18.77 18.87 21.74 19.88 19.96 Total Debt per Share
-- -- -- 20.61 22.82 44.90 87.67 93.75 80.56 108 99.75 92.86 133 150 103 87.57 67.13 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -2.56 2.72 3.75 26.54 -0.74 10.99 20.44 13.39 6.87 11.78 1.06 -20.07 11.48 16.39 -3.86 -3.88 Return on Equity %
-- 0.84 2.42 1.75 12.89 -0.33 4.79 8.97 5.59 2.76 5.04 0.54 -11.81 7.40 11.42 -2.76 -2.74 Return on Assets %
-- 4.82 9.81 5.70 24.06 -0.29 7.79 14.22 11.62 6.80 11.08 2.88 -18.75 8.44 17.08 -3.07 -3.04 Return on Capital %
-- 2.47 6.84 4.73 9.41 2.90 7.95 11.12 7.66 7.70 4.99 -1.86 -1.80 5.14 6.07 3.34 3.31 Return on Invested Capital %
-- -- -- -- 9.09 9.98 9.03 9.60 9.63 12.57 10.08 7.39 8.36 7.63 9.45 10.46 9.33 Weighted Average Cost Of Capital (WACC) %
-- -- -- 8.58 5.82 3.76 4.23 6.06 6.51 6.44 5.69 6.24 6.72 5.26 4.16 4.45 4.23 Effective Interest Rate on Debt %
-- 75.26 86.04 71.68 75.85 80.88 58.35 58.09 49.51 47.07 42.93 2.22 1.04 32.21 42.83 34.04 34.04 Gross Margin %
100.00 15.83 37.12 28.27 43.86 30.84 49.24 51.15 39.74 34.76 24.28 -14.30 -17.92 20.19 32.21 19.84 19.84 Operating Margin %
-73.33 3.56 9.92 8.62 55.95 -1.92 24.00 33.88 23.72 10.82 20.23 3.66 -89.42 36.97 55.07 -15.35 -15.35 Net Margin %
-- -63.01 -244 1.47 -110 -61.50 -174 -33.76 -84.43 -22.31 -31.71 -54.38 -65.69 -32.41 -3.95 -8.80 -8.80 FCF Margin %
9,999 0.66 0.87 0.44 0.49 0.64 0.71 0.71 0.90 0.98 0.67 0.48 0.36 0.32 0.23 0.22 0.22 Debt to Equity
-- 0.47 0.41 0.51 0.47 0.42 0.44 0.44 0.40 0.39 0.45 0.55 0.63 0.65 0.71 0.72 0.72 Total Equity to Total Asset
-- 0.31 0.36 0.23 0.23 0.27 0.31 0.31 0.36 0.38 0.30 0.26 0.23 0.20 0.17 0.16 0.16 Total Debt to Total Asset
-- 17.79 21.03 14.56 17.48 13.80 11.64 15.38 11.67 12.01 10.70 0.33 0.14 6.44 8.88 6.13 6.07 Gross Profit to Total Asset %
-- 0.24 0.24 0.20 0.23 0.17 0.20 0.27 0.24 0.26 0.25 0.15 0.13 0.20 0.21 0.18 0.18 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Dividend Payout Ratio
-- 294 94.60 71.82 104 121 115 82.95 80.39 74.22 90.60 79.83 102 76.64 73.07 70.58 70.58 Days Sales Outstanding
-- 158 261 71.55 23.59 57.71 41.12 91.13 76.75 56.93 62.15 37.86 36.09 47.06 46.61 38.68 38.68 Days Accounts Payable
-- 27.34 15.35 2.87 -- -- -- -- -- -- -- -- 1.80 3.12 3.77 3.92 3.90 Days Inventory
-- 163 -151 3.14 80.42 63.44 74.00 -8.18 3.64 17.29 28.45 41.97 67.95 32.70 30.23 35.82 35.80 Cash Conversion Cycle
-- 13.35 23.78 127 -- -- -- -- -- -- -- -- 202 117 96.86 93.20 93.49 Inventory Turnover
-- 0.25 0.14 0.28 0.24 0.19 0.42 0.42 0.50 0.53 0.57 0.98 0.99 0.68 0.57 0.66 0.66 COGS to Revenue
-- 0.02 0.01 0.00 -- -- -- -- -- -- -- -- 0.01 0.01 0.01 0.01 0.01 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CXO 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3.62 54.94 198 294 498 511 851 1,618 1,820 2,320 2,660 1,804 1,635 2,586 4,151 4,592 4,592 Revenue
-- 13.59 27.67 83.37 120 97.67 355 678 919 1,228 1,518 1,764 1,618 1,753 2,373 3,029 3,029 Cost of Goods Sold
3.62 41.35 171 211 378 413 497 940 901 1,092 1,142 40.00 17.00 833 1,778 1,563 1,563 Gross Profit
-- 75.26 86.04 71.68 75.85 80.88 58.35 58.09 49.51 47.07 42.93 2.22 1.04 32.21 42.83 34.04 34.04 Gross Margin %
-- 11.31 21.72 29.45 41.13 53.16 66.40 110 148 188 223 250 243 244 385 459 459 Selling, General, & Admin. Expense
-- 21.35 75.29 98.32 118 202 11.21 2.72 29.70 97.13 273 48.00 67.00 67.00 56.00 193 193 Other Operating Expense
3.62 8.69 73.61 83.20 218 158 419 827 723 806 646 -258 -293 522 1,337 911 911 Operating Income
100.00 15.83 37.12 28.27 43.86 30.84 49.24 51.15 39.74 34.76 24.28 -14.30 -17.92 20.19 32.21 19.84 19.84 Operating Margin %
-- -- -- -36.04 -29.04 -28.29 -53.49 -115 -171 -219 -206 -215 -204 -146 -149 -185 -185 Interest Expense
-- -- -- -36.04 -29.04 -28.29 -60.09 -127 -183 -219 -217 -215 -204 -146 -149 -185 -185 Net Interest Income
-3.62 -4.70 -39.56 -5.78 238 -165 -110 -19.25 119 -231 427 570 -1,841 505 1,701 -1,585 -1,585 Other Income (Expense)
-- 3.99 34.05 41.38 428 -35.90 249 681 659 357 856 97.00 -2,338 881 2,889 -859 -859 Pre-Tax Income
-- -2.04 -14.38 -16.02 -157 22.59 -102 -262 -251 -118 -318 -31.00 876 75.00 -603 154 154 Tax Provision
-- 51.06 42.23 38.71 36.81 62.92 40.80 38.42 38.08 33.10 37.13 31.96 37.47 -8.51 20.87 17.93 17.93 Tax Rate %
-2.66 1.95 19.67 25.36 270 -13.31 147 420 408 239 538 66.00 -1,462 956 2,286 -705 -705 Net Income (Continuing Operations)
-- -- -- -- 8.48 3.51 56.94 129 23.46 12.08 -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
-2.66 1.95 19.67 25.36 279 -9.80 204 548 432 251 538 66.00 -1,462 956 2,286 -705 -705 Net Income
-73.33 3.56 9.92 8.62 55.95 -1.92 24.00 33.88 23.72 10.82 20.23 3.66 -89.42 36.97 55.07 -15.35 -15.35 Net Margin %
0.80 4.77 10.36 0.05 -- -- -- -- -- -- -- -- -- -- -- -- -- Preferred dividends
-3.48 -0.70 0.63 0.39 3.52 -0.12 2.21 5.34 4.18 2.39 4.89 0.54 -10.85 6.44 13.28 -3.55 -3.57 EPS (Basic)
-3.48 -0.70 0.59 0.38 3.46 -0.12 2.18 5.28 4.15 2.39 4.88 0.54 -10.85 6.41 13.25 -3.55 -3.57 EPS (Diluted)
0.99 4.06 50.73 66.31 80.59 84.91 93.84 104 104 104 109 120 135 148 171 199 198 Shares Outstanding (Diluted
Average)
-- 11.62 62.22 76.78 117 192 211 400 575 773 980 1,223 1,167 1,146 1,478 1,964 1,964 Depreciation, Depletion and
Amortization
3.62 20.31 136 154 574 184 514 1,197 1,405 1,348 2,041 1,535 -967 2,173 4,516 1,290 1,290 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CXO 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- 9.18 1.12 30.42 17.75 3.23 0.38 0.34 2.88 0.02 0.02 229 53.00 -- -- 70.00 70.00 Cash And Cash Equivalents
-- -- -- 1.87 113 -- -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
-- 9.18 1.12 32.29 131 3.23 0.38 0.34 2.88 0.02 0.02 229 53.00 -- -- 70.00 70.00 Cash, Cash Equivalents, Marketable
Securities
-- 44.31 51.39 57.92 142 170 269 368 401 472 660 395 458 543 831 888 888 Accounts Receivable
-- 1.02 1.31 -- -- -- -- -- -- -- -- -- 16.00 14.00 35.00 30.00 30.00 Inventories, Other
-- 1.02 1.31 -- -- -- -- -- -- -- -- -- 16.00 14.00 35.00 30.00 30.00 Total Inventories
-- 4.68 9.94 17.78 5.94 44.49 61.70 43.01 55.21 49.12 528 691 35.00 35.00 543 67.00 67.00 Other Current Assets
-- 59.19 63.77 108 279 217 331 411 459 521 1,188 1,315 562 592 1,409 1,055 1,055 Total Current Assets
-- 180 1,399 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Land And Improvements
-- -- -- 7.09 14.82 -- -- -- -- -- -- -- -- -- -- -- -- Machinery, Furniture, Equipment
-- 185 1,405 1,562 2,708 3,374 5,644 7,407 9,559 11,330 13,997 16,025 18,692 21,501 32,123 29,348 29,348 Gross Property, Plant and Equipment
-- -14.34 -84.10 -167 -307 -517 -731 -1,117 -1,565 -2,384 -3,791 -5,048 -7,390 -8,460 -9,810 -8,021 -8,021 Accumulated Depreciation
-- 171 1,321 1,395 2,401 2,856 4,914 6,290 7,993 8,946 10,206 10,977 11,302 13,041 22,313 21,327 21,327 Property, Plant and Equipment
-- -- -- -- 37.77 36.52 34.97 33.43 30.08 28.62 27.15 25.69 24.00 26.00 2,243 1,934 1,934 Intangible Assets
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 2,224 1,917 1,917 Goodwill
-- 2.61 5.65 5.25 97.25 61.02 89.10 115 107 95.63 330 325 231 73.00 329 416 416 Other Long Term Assets
-- 232 1,390 1,508 2,815 3,171 5,368 6,850 8,589 9,591 11,752 12,642 12,119 13,732 26,294 24,732 24,732 Total Assets
-- 5.90 19.75 16.34 7.77 15.44 39.95 169 193 192 258 183 160 226 303 321 321 Accounts Payable
-- 20.19 51.03 70.11 184 211 374 582 679 657 1,151 581 649 704 1,131 979 979 Accounts Payable & Accrued
Expense
-- 0.08 2.36 7.65 9.43 3.42 12.31 39.24 24.28 36.72 92.54 -- -- 116 159 -- -- Current Portion of Long-Term Debt
-- -- -- -- 37.21 -- -- -- 8.57 -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- 37.21 -- -- -- 8.57 -- -- -- -- -- -- -- -- DeferredTaxAndRevenue
-- 20.07 17.12 50.88 39.92 123 121 80.30 28.43 63.61 20.91 15.70 104 345 66.00 203 203 Other Current Liabilities
-- 40.35 70.50 129 271 337 507 701 740 757 1,265 596 753 1,165 1,356 1,182 1,182 Total Current Liabilities
-- 72.00 495 335 645 846 1,669 2,080 3,101 3,630 3,469 3,332 2,741 2,691 4,194 3,955 3,955 Long-Term Debt
-- 72.00 495 335 645 846 1,669 2,080 3,101 3,630 3,469 3,332 2,741 2,691 4,194 3,955 3,955 Long-Term Debt & Capital Lease
Obligation
9,999 0.66 0.87 0.44 0.49 0.64 0.71 0.71 0.90 0.98 0.67 0.48 0.36 0.32 0.23 0.22 0.22 Debt to Equity
-- -- 242 259 574 603 721 1,002 1,187 1,335 1,601 1,630 766 687 1,808 1,654 1,654 NonCurrent Deferred Liabilities
-- 10.37 7.56 10.52 -- 49.52 88.22 84.92 95.43 111 136 140 236 274 168 159 159 Other Long-Term Liabilities
-- 123 815 733 1,490 1,836 2,985 3,869 5,123 5,833 6,471 5,699 4,496 4,817 7,526 6,950 6,950 Total Liabilities
-- 0.01 0.06 0.08 0.09 0.09 0.10 0.10 0.11 0.11 0.11 0.13 -- -- -- -- -- Common Stock
-- 0.13 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Preferred Stock
-- -6.27 12.15 37.47 316 306 511 1,059 1,491 1,742 2,280 2,346 884 1,840 4,126 3,320 3,320 Retained Earnings
-- -20.07 -12.44 -14.20 -- -- -- -- -- -- -- -- -- -- -- -- -- Accumulated other comprehensive
income (loss)
-- 136 575 752 1,009 1,029 1,875 1,926 1,983 2,027 3,027 4,628 6,783 7,142 14,773 14,608 14,608 Additional Paid-In Capital
-- -- -- -- -0.13 -0.42 -1.62 -4.00 -7.19 -10.88 -26.48 -31.61 -44.00 -67.00 -131 -146 -146 Treasury Stock
-- 110 575 775 1,325 1,335 2,384 2,981 3,466 3,758 5,281 6,943 7,623 8,915 18,768 17,782 17,782 Total Equity
-- 0.47 0.41 0.51 0.47 0.42 0.44 0.44 0.40 0.39 0.45 0.55 0.63 0.65 0.71 0.72 0.72 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CXO 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-2.66 1.95 19.67 25.36 279 -9.80 248 513 481 239 538 66.00 -1,462 956 2,286 -705 -705 Net Income
-2.66 1.95 19.67 25.36 279 -9.80 248 513 481 239 538 66.00 -1,462 956 2,286 -705 -705 Net Income From Continuing
Operations
-- 11.62 62.22 76.78 117 192 211 400 575 773 980 1,223 1,167 1,146 1,478 1,964 1,964 Depreciation, Depletion and
Amortization
-- -15.62 -27.68 -5.76 39.61 -26.22 -92.96 -118 -23.09 -40.01 -105 128 32.00 -126 -35.00 -90.00 -90.00 Change In Receivables
-- -- -- -0.15 -16.82 4.12 -2.32 7.75 -1.59 0.51 2.44 -5.00 2.00 -- -12.00 1.00 1.00 Change In Inventory
-- -1.55 -2.47 -0.17 -5.54 -7.95 3.26 -1.73 -8.20 4.95 -23.63 -4.00 6.00 -9.00 -10.00 -2.00 -2.00 Change In Prepaid Assets
-- 3.45 13.85 1.10 -18.16 16.08 50.71 59.47 20.18 10.12 62.05 -86.00 -23.00 66.00 53.00 31.00 31.00 Change In Payables And Accrued
Expense
-- -3.48 -3.49 -5.65 17.31 5.03 -29.16 -19.64 0.51 -83.62 -43.48 44.00 -51.00 -23.00 4.00 -40.00 -40.00 Change In Working Capital
-- 1.97 12.62 13.72 154 -34.45 93.00 250 242 102 296 30.00 -864 -71.00 605 -154 -154 Change In DeferredTax
-- -- -- 3.84 5.22 9.04 12.93 19.27 29.87 35.08 47.13 63.00 59.00 60.00 82.00 85.00 85.00 Stock Based Compensation
-- 13.01 21.17 48.45 -193 190 103 36.43 -90.55 231 -519 43.00 1,010 -373 -1,897 514 1,686 Cash Flow from Others
-- 25.07 112 170 391 360 652 1,199 1,237 1,362 1,746 1,530 1,384 1,695 2,558 2,836 Cash Flow from Operations
2,836
-- -59.68 -597 -165 -593 -4.40 -6.94 -37.65 -56.59 -28.68 -34.32 -2,511 -2,458 -2,533 -2,722 -3,240 -3,240 Purchase Of Property, Plant,
Equipment
-- -- -- 3.28 1.03 5.10 104 196 -- -- -- -- -- 29.00 -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -- -- -- -30.05 -91.00 -56.00 -- -- -- -- Purchase Of Business
-- -- -- -- -- -- -13.82 -84.85 -- -32.34 -30.05 -91.00 -56.00 -- -- -- -- Purchase Of Investment
-- -- -- -- -- -- -- -- 23.54 -- 71.98 633 -- -- -- -- -- Sale Of Investment
-- -2.22 -- 1.81 -354 -587 -2,127 -1,725 -2,207 -1,836 -2,596 -542 345 785 506 1,247 1,247 Cash From Other Investing Activities
-- -61.90 -597 -160 -946 -586 -2,043 -1,651 -2,240 -1,897 -2,618 -2,602 -2,225 -1,719 -2,216 -1,993 -1,993 Cash Flow from Investing
-- 30.62 61.18 173 242 -- 739 -- -- -- 932 1,536 1,327 -- -- -- -- Issuance of Stock
-- -- -- -- -0.13 -0.29 -1.20 -2.38 -3.19 -3.70 -15.59 -5.00 -12.00 -23.00 -64.00 -265 -265 Repurchase of Stock
-- 19.00 424 -166 306 210 672 447 1,006 540 -54.68 -232 -600 82.00 -179 -401 -401 Net Issuance of Debt
-- -4.16 -2.57 -0.13 -- -- -- -- -- -- -- -- -- -- -- -100.00 -100.00 Cash Flow for Dividends
-- -0.10 -5.50 12.83 -6.54 2.66 -21.62 7.37 3.16 -4.71 10.49 2.00 -50.00 -88.00 -99.00 -7.00 -7.00 Other Financing
-- 45.36 477 19.89 542 212 1,389 452 1,006 532 872 1,301 665 -29.00 -342 -773 -773 Cash Flow from Financing
-- 8.53 -8.06 29.30 -12.67 -14.52 -2.85 -0.04 2.54 -2.86 -- 229 -176 -53.00 -- 70.00 -24.00 Net Change in Cash
-- -59.68 -597 -165 -941 -674 -2,134 -1,746 -2,774 -1,880 -2,589 -2,511 -2,458 -2,533 -2,722 -3,240 -3,240 Capital Expenditure
-- -34.61 -485 4.32 -549 -314 -1,482 -546 -1,536 -518 -843 -981 -1,074 -838 -164 -404 -404 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CXO 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- 54.24 6.75 -- 40.22 17.72 19.41 45.00 20.70 179 -- 23.44 7.91 -- -- PE Ratio(TTM)
-- -- -- -- -- -- -- 79.99 -- -- -- -- -- 124 9.20 -- -- Price to Owner Earnings (TTM)
-- -- -- 2.02 1.46 2.88 3.78 3.26 2.43 3.02 2.13 1.73 2.54 2.51 1.10 0.98 0.76 Price to Book
-- -- -- 2.02 1.50 2.97 3.84 3.30 2.45 3.04 2.15 1.73 2.55 2.51 1.25 1.10 0.84 Price to Tangible Book
-- -- -- 1,031 -- -- -- -- -- -- -- -- -- -- -- -- -- Price-to-Free-Cash-Flow Ratio
-- -- -- 8.21 4.68 10.66 12.75 8.09 6.77 8.25 6.23 7.45 12.90 13.11 6.88 6.14 4.70 Price-to-Operating-Cash-Flow
Ratio
-- -- -- 4.66 3.66 7.50 9.66 5.99 4.60 4.84 4.09 6.15 11.00 8.59 4.21 3.79 2.91 PS Ratio
-- -- -- -- -- -- 8.40 0.50 0.54 1.64 0.55 9.05 -- -- -- -- -- PEG Ratio
-- -- -- 6.34 4.93 9.20 12.56 7.32 6.35 6.47 5.58 8.37 13.49 9.72 6.01 4.62 3.72 EV-to-Revenue
-- -- -- 12.19 4.28 25.50 20.80 9.90 8.22 11.14 7.27 9.83 -22.81 11.57 5.52 16.46 13.24 EV-to-EBITDA
-- -- -- 25.60 5.38 -618 35.35 14.87 13.91 26.08 13.97 48.38 -10.34 24.49 8.21 -31.50 -25.36 EV-to-EBIT
-- -- -- 3.91 18.59 -0.16 2.83 6.72 7.19 3.83 7.16 2.07 -9.67 4.08 12.18 -3.17 -3.94 Return on Capital %
-- -- -- -- -- -- 0.98 13.82 9.37 12.19 10.42 8.43 -- -- -- -- -19.92 Forward Rate of Return
-- -- -- -- -- -- -- -- -- -- -- 38.22 102 77.40 35.61 33.69 25.83 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.57 0.84 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
-- -- -- 1,563 1,933 3,853 9,013 9,722 8,425 11,350 11,272 11,992 19,367 22,342 20,584 17,425 13,205 Market Cap
-- -- -- 1,873 2,457 4,699 10,694 11,841 11,548 15,017 14,834 15,095 22,055 25,149 24,937 21,310 17,090 Enterprise Value
-- -- -- 20.61 22.82 44.90 87.67 93.75 80.56 108 99.75 92.86 133 150 103 87.57 67.13 Month End Stock Price
-- -27.97 -16.04 -9.24 -16.05 -21.36 -29.03 -37.30 -48.96 -55.50 -57.26 -42.36 -30.42 -32.39 -37.58 -34.58 -34.73 Net Cash (per share)
-- -15.68 -14.81 -8.24 -14.30 -18.86 -25.81 -33.34 -44.60 -50.55 -46.75 -33.95 -26.93 -28.41 -30.55 -29.63 -29.75 Net Current Asset Value (per
share)
-- -19.69 -15.27 -8.67 -14.79 -19.87 -27.07 -34.65 -46.09 -52.14 -52.88 -40.07 -28.01 -29.60 -34.38 -31.15 -31.29 Net-Net Working Capital (per
share)
-- -- -- -- -- -- -18.00 -45.95 -78.56 -88.89 -78.12 -49.67 -18.14 -13.85 40.19 37.33 37.33 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- -- -- -- -- 107 156 140 140 Median PS (per share)
-- -- -- -- -- -- 11.11 101 98.25 57.00 121 10.26 -- -- -- -- -- Peter Lynch Fair Value (per
share)
-- -- 12.27 9.35 33.85 -- 28.41 50.89 53.90 42.67 71.45 25.51 -- 92.84 157 -- -- Graham Number (per share)
-- -- -- -- -- -65.33 -97.30 -106 -141 -138 -153 -137 -127 -128 -119 -114 -114 Earnings Power Value (EPV)
-- 0.30 0.15 1.58 1.65 1.50 2.25 2.29 1.72 1.83 1.83 1.81 2.22 3.36 2.40 1.78 1.45 Altman Z-Score
-- 9,999 9,999 4.00 7.00 5.00 6.00 6.00 4.00 6.00 7.00 5.00 3.00 7.00 7.00 4.00 4.00 Piotroski F-Score
-- -- -- -2.59 3.13 -2.91 -2.05 -2.40 -3.00 -2.81 -2.18 5.98 -2.17 -3.30 2.73 -2.70 -2.70 Beneish M-Score
-- -- 4.61 0.78 1.23 0.78 1.28 0.95 0.96 0.86 0.92 0.86 0.82 0.97 1.68 0.82 0.83 Scaled Net Operating Assets
-- 16.69 36.28 1.06 29.60 6.84 29.73 14.60 16.70 8.19 12.00 9.00 -5.12 7.14 7.39 -6.26 -6.26 Sloan Ratio (%)
-- 1.47 0.90 0.84 1.03 0.64 0.65 0.59 0.62 0.69 0.94 2.20 0.75 0.51 1.04 0.89 0.89 Current Ratio
-- 1.44 0.89 0.84 1.03 0.64 0.65 0.59 0.62 0.69 0.94 2.20 0.73 0.50 1.01 0.87 0.87 Quick Ratio
-- -- -- 21.99 40.18 46.17 88.43 110 116 121 148 128 143 154 162 125 125 Highest Stock Price
-- -- -- -- 15.18 17.38 42.86 67.25 77.80 80.14 83.01 86.67 72.52 108 94.90 61.95 61.37 Lowest Stock Price
-- -308 -1,150 -49.49 -11.70 -1.30 -19.82 -0.87 -0.85 -0.49 -7.53 -14.28 -13.10 -1.83 -34.65 0.64 1.07 Shares Buyback Ratio (%)
-- 271 -71.12 13.56 39.24 -2.69 50.86 72.01 12.14 27.56 9.18 -38.51 -19.04 44.05 38.69 -4.80 -5.50 YoY Rev. per Sh. Growth (%)
-- 79.89 184 -35.59 811 -103 1,917 142 -21.40 -42.41 104 -88.93 -2,109 159 107 -127 -127 YoY EPS Growth (%)
-- 37.32 -46.50 -13.15 206 -69.54 152 111 17.07 -3.99 44.16 -31.83 -156 305 79.55 -75.42 -75.20 YoY EBITDA Growth (%)
-- -- -- -- -- -- 6.65 46.41 37.85 28.80 37.72 19.74 -- -- -- -- -- EBITDA 5-Y Growth (%)
0.99 4.06 47.29 64.32 79.21 84.91 92.54 103 103 104 109 120 135 147 171 199 198 Shares Outstanding (Basic
Average)
0.99 4.06 50.73 75.83 84.71 85.80 103 104 105 105 113 129 146 149 200 199 197 Shares Outstanding (EOP)
-- -- -- -- 1.34 1.14 0.98 1.39 1.55 1.98 1.65 1.06 1.13 1.00 1.31 1.68 1.66 Beta
03/28/08 03/28/08 02/27/09 02/26/10 02/25/11 02/24/12 02/22/13 02/21/14 02/26/15 02/25/16 02/22/17 02/21/18 02/20/19 02/19/20 Filing Date
03/28/08 02/27/09 02/25/11 02/24/12 02/22/13 02/21/14 02/26/15 02/25/16 02/22/17 02/21/18 02/20/19 02/19/20 02/19/20 02/19/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CXO 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/CXO 7/7
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HCP 1/1
NetApp Inc (NAS:NTAP) 03/03/2020 2:00PM EST GuruFocus
Price: $ 45.67 -1.90(-3.99%) Market Cap: $ 10.1 B Enterprise Value: $9.08 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 10.73
Cash to Debt 1.51 Operating margin (%) 17.21
Forward P/E N/A
Equity to Asset 0.04 Net-margin (%) 18.19
PE(NRI) 10.73
Interest Coverage 17.53 ROE (%) 127.34
F-Score:
P/B 37.06
ROA (%) 12.76
7 P/S 1.94
Z-Score: ROC (Joel Greenblatt) (%) 135.24
2.24 PFCF 11.58
Revenue Growth (3Y)(%) 8.30
M-Score: POCF 10.15
-2.64 EBITDA Growth (3Y)(%) 37.40
EV-to-EBIT 8.01
EPS Growth (3Y)(%) 80.30
PEG 0.76
Shiller P/E 22.78
Current Ratio 1.20
Quick Ratio 1.16
Days Inventory 22.00
Days Sales Outstanding 53.48
Warning Signs Quarterly Revenues Company Description
Revenue per Share: Growth Mar Jun Sep Dec Full Year NetApp is a leading provider of enterprise data management and storage solutions. The company's three operating
business units are products, software maintenance, and hardware maintenance. NetApp transitioned from a data
slow down 2016 1,386 1,380 1,294 1,340 5,400 center storage firm to a company with software data management solutions for multicloud environments. The
2017 1,404 1,453 1,321 1,415 5,593 California-headquartered company sells globally and has approximately 10,000 employees.... (Read More)
Tax Rate: Tax Rate is too low , , , , , , ,
2018 1,539 1,644 1,474 1,517 6,174 Competitors: SZSE:000977 NAS:STX HKSE:00992 TPE:2382 XSWX:LOGN TPE:2395 SHSE:603019
SZSE:000066, NYSE:ANET, TPE:4938, TSE:6724, TPE:2357, NYSE:PSTG, SZSE:000021, TPE:6669,
Insider Sell: Insider Selling 2019 1,563 1,592 1,236 1,371 5,762 SHSE:600100, HKSE:03396, SZSE:300223, TPE:2301, SHSE:600764
2020 1,404
Insider Trades
Good Signs Quarterly Earnings per Share
Piotroski F-Score: High Mar Jun Sep Dec Full Year
2016 0.52 -0.03 0.23 0.38 1.10
Operating Margin %: 2017 0.52 0.68 0.47 0.63 2.30
Expansion 2018 -1.79 0.99 1.05 0.91 1.16
Dividend Yield %: Close to 2019 0.98 1.59 0.42 1.03 4.02
10-year high 2020 1.21
PE Ratio: Close to 10-year Quarterly Dividends Per Share
low Mar Jun Sep Dec Full Year
PS Ratio: Close to 3-year low 2016 0.18 0.18 0.19 0.19 0.74
2017 0.19 0.19 0.20 0.20 0.78
2018 0.20 0.20 0.40 0.40 1.20
DCF 2019 0.40 0.40 0.48 0.48 1.76
EPS without NRI: $4.25 2020 0.48
Growth Rate in the next 10 Growth Rate
years: 10.20%
Terminal Growth Rate for 10 Annual Rates(per share) 10-Y 5-Y 12-M
years: 4% Revenue Growth (%) 8.00 5.10 2.50
Fair Value: $63.51 EBITDA Growth (%) 14.40 14.70 2.50
Free Cash Flow Growth (%) 7.20 8.20 -14.20
Reverse DCF Book Value Growth (%) -0.20 -0.20 -75.30
Expected eps Growth Rate: EPS Growth (%) 10.20 3.00 8.10
5.07%
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NTAP 1/7
Per Share Data
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
3.23 4.18 5.32 7.22 9.15 10.18 11.13 13.01 16.22 17.21 18.18 19.08 18.67 19.54 21.45 23.73 23.47 Revenue per Share
0.62 0.83 1.02 1.06 1.27 0.72 1.95 2.63 2.81 2.73 3.19 3.31 2.27 3.20 5.29 5.88 5.56 EBITDA per Share
0.46 0.66 0.81 0.78 0.87 0.21 1.48 2.21 2.05 1.79 2.23 2.35 1.33 2.40 4.57 5.12 4.75 EBIT per Share
0.42 0.59 0.69 0.77 0.86 0.19 1.13 1.71 1.58 1.37 1.83 1.75 0.77 1.71 0.42 4.51 4.25 Earnings per Share (diluted)
0.42 0.59 0.69 0.77 0.86 0.19 1.13 1.71 1.58 1.37 1.83 1.75 0.77 1.71 0.42 4.51 4.25 eps without NRI
0.66 0.88 1.10 1.92 2.23 1.49 1.73 2.37 2.55 2.26 2.65 2.54 1.64 2.26 3.84 4.50 3.85 Owner Earnings per Share (TTM)
0.73 0.96 1.09 1.80 2.27 1.79 2.38 2.85 2.75 2.94 3.24 3.41 2.74 2.89 4.83 4.51 3.94 Free Cashflow per Share
-- -- -- -- -- -- -- -- -- -- 0.60 0.66 0.72 0.76 0.80 1.60 1.84 Dividends per Share
3.96 4.53 5.12 5.42 4.98 4.95 7.29 10.42 11.95 13.23 11.67 11.15 10.25 10.34 8.65 4.54 1.23 Book Value per Share
3.06 3.67 3.62 3.56 2.72 2.79 5.33 8.22 8.82 9.95 8.25 7.50 3.65 3.59 1.68 -2.88 -6.69 Tangible Book per Share
0.01 0.01 0.80 0.23 0.51 3.77 3.17 3.12 3.30 6.32 3.05 4.86 8.39 7.89 7.32 7.47 8.68 Total Debt per Share
18.61 26.67 37.07 37.21 24.20 18.30 34.67 52.11 38.83 34.89 35.61 36.25 23.64 39.85 66.58 72.85 45.67 Month End Stock Price
Ratios
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
12.66 14.68 14.87 15.22 16.79 3.84 19.10 21.12 14.76 11.14 15.00 15.55 7.28 16.99 4.59 69.46 127 Return on Equity %
9.52 10.62 9.46 8.61 8.01 1.35 6.69 8.98 6.72 4.86 6.24 6.02 2.36 4.93 1.19 12.48 12.76 Return on Assets %
44.91 64.07 67.21 53.94 48.41 9.55 64.64 101 76.84 57.04 68.17 70.60 40.06 77.53 162 175 135 Return on Capital %
29.95 37.31 34.13 29.93 34.49 153 350 -- -- 613 -- -- -- -- -- -- -- Return on Invested Capital %
24.99 22.44 20.37 16.50 13.40 10.85 12.27 11.15 11.25 11.08 12.32 8.99 7.09 9.96 12.18 9.27 9.05 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 8.82 6.26 6.74 6.35 5.31 2.22 3.39 2.55 2.32 3.06 3.12 3.05 Effective Interest Rate on Debt %
60.20 61.01 60.80 60.78 60.95 58.42 64.08 64.98 59.57 59.39 61.96 62.60 60.82 61.26 62.66 64.19 66.18 Gross Margin %
14.07 15.83 15.16 10.74 9.51 2.98 11.47 16.24 12.13 9.63 13.00 11.69 7.45 12.07 15.88 19.25 17.21 Operating Margin %
13.00 14.13 12.89 10.62 9.38 1.90 10.18 13.14 9.71 7.98 10.09 9.15 4.13 8.76 1.96 19.02 18.19 Net Margin %
22.59 23.06 20.39 24.91 24.84 17.60 21.35 21.93 16.93 17.10 17.85 17.85 14.68 14.77 22.52 19.00 16.79 FCF Margin %
0.00 0.00 0.16 0.04 0.10 0.76 0.44 0.30 0.28 0.48 0.26 0.44 0.82 0.76 0.85 1.65 7.05 Debt to Equity
0.75 0.70 0.59 0.54 0.42 0.30 0.39 0.45 0.46 0.42 0.41 0.36 0.29 0.29 0.23 0.13 0.04 Total Equity to Total Asset
0.00 0.00 0.09 0.02 0.04 0.23 0.17 0.14 0.13 0.20 0.11 0.16 0.24 0.22 0.19 0.21 0.27 Total Debt to Total Asset
44.08 45.89 44.61 49.27 52.10 41.70 42.10 44.40 41.19 36.21 38.32 41.18 34.71 34.45 38.07 42.12 46.44 Gross Profit to Total Asset %
0.73 0.75 0.73 0.81 0.86 0.71 0.66 0.68 0.69 0.61 0.62 0.66 0.57 0.56 0.61 0.66 0.70 Asset Turnover
-- -- -- -- -- -- -- -- -- -- 0.33 0.38 0.94 0.44 1.91 0.36 0.44 Dividend Payout Ratio
60.49 67.81 73.35 76.97 64.32 47.85 43.78 52.91 48.66 46.16 49.39 46.44 53.51 48.59 64.56 72.22 53.48 Days Sales Outstanding
41.31 48.96 45.64 47.83 50.44 35.51 47.71 47.37 33.77 36.86 37.47 45.27 42.66 59.55 101 89.88 73.39 Days Accounts Payable
25.73 21.41 23.30 19.80 17.70 16.92 22.49 22.52 19.56 21.36 19.87 21.39 20.49 22.39 23.54 20.98 22.00 Days Inventory
44.91 40.26 51.01 48.94 31.58 29.26 18.56 28.06 34.45 30.66 31.79 22.56 31.34 11.43 -12.48 3.32 2.09 Cash Conversion Cycle
14.19 17.05 15.66 18.43 20.62 21.57 16.23 16.21 18.67 17.09 18.37 17.06 17.81 16.30 15.51 17.40 16.59 Inventory Turnover
0.40 0.39 0.39 0.39 0.39 0.42 0.36 0.35 0.40 0.41 0.38 0.37 0.39 0.39 0.37 0.36 0.34 COGS to Revenue
0.03 0.02 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NTAP 2/7
Income Statement
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
1,170 1,598 2,066 2,804 3,303 3,406 3,931 5,123 6,233 6,332 6,325 6,123 5,546 5,491 5,919 6,146 5,603 Revenue
466 623 810 1,100 1,290 1,417 1,412 1,794 2,520 2,571 2,406 2,290 2,173 2,127 2,210 2,201 1,895 Cost of Goods Sold
705 975 1,256 1,705 2,013 1,990 2,519 3,329 3,713 3,761 3,919 3,833 3,373 3,364 3,709 3,945 3,708 Gross Profit
60.20 61.01 60.80 60.78 60.95 58.42 64.08 64.98 59.57 59.39 61.96 62.60 60.82 61.26 62.66 64.19 66.18 Gross Margin %
408 551 700 1,043 1,247 1,390 1,533 1,848 2,129 2,247 2,179 2,197 2,099 1,922 1,986 1,935 1,904 Selling, General, & Admin. Expense
132 171 243 385 452 499 536 649 828 904 918 920 861 779 783 827 840 Research & Development
0.02 0.00 -- -25.34 -- 0.00 -0.00 -- -0.00 -0.00 -- -- -- -- -- -- -- Other Operating Expense
165 253 313 301 314 102 451 832 756 610 822 716 413 663 940 1,183 964 Operating Income
14.07 15.83 15.16 10.74 9.51 2.98 11.47 16.24 12.13 9.63 13.00 11.69 7.45 12.07 15.88 19.25 17.21 Operating Margin %
-- -- -- -- -- 57.60 31.20 39.90 38.20 42.20 35.00 37.00 46.00 44.00 79.00 88.00 61.00 Interest Income
-- -- -- -- -- -63.40 -74.10 -75.90 -74.70 -91.70 -36.00 -42.00 -49.00 -52.00 -62.00 -58.00 -55.00 Interest Expense
-- -- -- -- -- -5.80 -42.90 -36.00 -36.50 -49.50 -1.00 -5.00 -3.00 -8.00 17.00 30.00 6.00 Net Interest Income
5.74 23.31 37.10 58.56 68.65 -87.50 38.90 -1.70 -7.40 6.60 -80.00 2.00 -65.00 -34.00 242 55.00 108 Other Income (Expense)
170 276 350 360 383 8.30 447 794 712 567 741 713 345 621 1,199 1,268 1,078 Pre-Tax Income
-18.37 -50.47 -83.82 -61.99 -72.96 56.30 -46.60 -121 -107 -61.30 -103 -153 -116 -140 -1,083 -99.00 -59.00 Tax Provision
10.78 18.27 23.93 17.23 19.06 -678 10.43 15.24 15.02 10.82 13.90 21.46 33.62 22.54 90.33 7.81 5.47 Tax Rate %
152 226 266 298 310 64.60 400 673 605 505 638 560 229 481 116 1,169 1,019 Net Income (Continuing Operations)
152 226 266 298 310 64.60 400 673 605 505 638 560 229 481 116 1,169 1,019 Net Income
13.00 14.13 12.89 10.62 9.38 1.90 10.18 13.14 9.71 7.98 10.09 9.15 4.13 8.76 1.96 19.02 18.19 Net Margin %
0.44 0.63 0.72 0.80 0.88 0.20 1.18 1.87 1.66 1.40 1.87 1.77 0.78 1.75 0.43 4.60 4.31 EPS (Basic)
0.42 0.59 0.69 0.77 0.86 0.19 1.13 1.71 1.58 1.37 1.83 1.75 0.77 1.71 0.42 4.51 4.25 EPS (Diluted)
362 383 388 388 361 335 353 394 384 368 348 321 297 281 276 259 229 Shares Outstanding (Diluted
Average)
59.45 65.62 81.80 111 144 171 166 166 293 345 334 307 279 226 198 197 194 Depreciation, Depletion and
Amortization
224 319 395 412 458 242 687 1,036 1,080 1,003 1,111 1,062 673 899 1,459 1,523 1,327 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NTAP 3/7
Balance Sheet
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
241 194 461 489 936 1,494 1,705 2,757 1,550 3,277 2,291 1,922 2,868 2,444 2,941 2,325 2,705 Cash And Cash Equivalents
567 976 862 820 228 1,110 2,019 2,417 3,849 3,676 2,712 3,404 2,435 2,477 2,450 1,574 303 Marketable Securities
808 1,170 1,323 1,309 1,164 2,604 3,724 5,175 5,399 6,953 5,003 5,326 5,303 4,921 5,391 3,899 3,008 Cash, Cash Equivalents, Marketable
Securities
194 297 415 591 582 447 472 743 831 801 856 779 813 731 1,047 1,216 821 Accounts Receivable
13.30 15.78 17.23 19.43 7.67 5.03 9.40 7.60 30.90 16.30 17.60 36.00 10.00 28.00 12.00 8.00 18.00 Inventories, Raw Materials &
Components
0.62 0.69 0.74 0.01 0.27 0.06 0.20 -- -- -- -- -- -- -- -- -- -- Inventories, Work In Process
20.19 22.51 46.48 35.45 62.29 56.01 103 101 131 123 105 110 88.00 135 110 123 95.00 Inventories, Finished Goods
-- -0.00 -- 0.00 -0.00 -- 0.00 -- -- -- -- -- -- -- -- -- -- Inventories, Other
34.11 38.98 64.45 54.88 70.22 61.10 113 109 162 140 122 146 98.00 163 122 131 113 Total Inventories
53.22 70.06 231 286 251 327 229 339 436 525 490 522 234 383 392 364 276 Other Current Assets
1,089 1,576 2,033 2,241 2,067 3,439 4,537 6,365 6,827 8,418 6,471 6,773 6,448 6,198 6,952 5,610 4,218 Total Current Assets
-- -- -- -- -- 127 72.80 65.10 51.00 42.00 36.00 -- -- -- -- -- -- Investments And Advances
158 163 164 164 176 176 205 205 248 266 266 265 215 132 106 106 104 Land And Improvements
136 144 218 269 297 323 395 406 418 535 542 607 605 612 594 605 610 Buildings And Improvements
233 267 334 428 533 624 692 807 1,091 1,219 1,209 1,211 1,191 1,184 1,189 1,279 1,310 Machinery, Furniture, Equipment
16.75 51.84 42.76 43.71 90.47 115 37.00 91.90 107 19.90 72.90 33.00 74.00 26.00 27.00 10.00 26.00 Construction In Progress
544 626 759 905 1,097 1,308 1,402 1,590 1,961 2,139 2,193 2,223 2,191 2,047 2,004 2,086 2,279 Gross Property, Plant and Equipment
-173 -207 -245 -301 -403 -500 -598 -678 -823 -968 -1,084 -1,193 -1,254 -1,248 -1,248 -1,327 -1,397 Accumulated Depreciation
371 419 513 604 694 808 804 912 1,137 1,171 1,109 1,030 937 799 756 759 882 Property, Plant and Equipment
324 313 563 684 770 727 681 813 1,141 1,169 1,110 1,117 1,856 1,815 1,833 1,782 1,813 Intangible Assets
-- -- 488 601 680 681 681 760 905 988 988 1,027 1,676 1,684 1,739 1,735 1,770 Goodwill
93.78 64.75 152 130 540 372 399 344 376 443 488 481 796 681 450 590 570 Other Long Term Assets
1,877 2,373 3,261 3,658 4,071 5,473 6,494 8,499 9,532 11,242 9,214 9,401 10,037 9,493 9,991 8,741 7,483 Total Assets
52.72 83.57 101 144 178 138 185 233 233 260 247 284 254 347 609 542 381 Accounts Payable
-- -- -- -- -- 4.73 -- -- -- -- -- -- -- -- -- -- -- Total Tax Payable
162 237 300 418 535 537 185 233 233 260 320 342 302 380 634 567 407 Accounts Payable & Accrued
Expense
-- -- 166 85.11 -- -- -- 1,150 1,202 1,258 -- -- 868 1,379 385 649 743 Current Portion of Long-Term Debt
167 262 399 631 872 1,014 1,135 1,227 1,367 1,563 1,654 1,724 1,794 1,744 1,712 1,825 1,795 Current Deferred Revenue
167 262 399 631 872 1,014 1,135 1,227 1,367 1,563 1,654 1,724 1,794 1,744 1,712 1,825 1,795 DeferredTaxAndRevenue
16.03 20.82 51.58 53.37 6.25 129 591 763 718 750 721 643 698 619 800 826 584 Other Current Liabilities
344 520 917 1,188 1,414 1,679 1,911 3,373 3,520 3,831 2,695 2,709 3,662 4,122 3,531 3,867 3,529 Total Current Liabilities
4.86 4.47 134 -- 173 1,265 1,102 -- -- 995 990 1,487 1,490 744 1,541 1,144 1,146 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 99.00 Capital Lease Obligation
4.86 4.47 134 -- 173 1,265 1,102 -- -- 995 990 1,487 1,490 744 1,541 1,144 1,245 Long-Term Debt & Capital Lease
Obligation
0.00 0.00 0.16 0.04 0.10 0.76 0.44 0.30 0.28 0.48 0.26 0.44 0.82 0.76 0.85 1.65 7.05 Debt to Equity
-- -- -- -- -- 702 780 1,088 1,449 1,446 1,446 1,473 1,591 1,598 1,651 1,843 1,778 NonCurrent Deferred Liabilities
112 187 287 482 784 164 172 193 207 254 296 318 413 249 992 797 649 Other Long-Term Liabilities
461 712 1,338 1,669 2,371 3,810 3,964 4,654 5,176 6,525 5,427 5,987 7,156 6,713 7,715 7,651 7,201 Total Liabilities
0.36 0.38 0.41 0.42 0.43 0.44 0.50 0.50 0.50 0.50 0.30 3,385 2,912 2,769 2,355 1,133 321 Common Stock
436 662 928 1,226 1,536 1,622 2,001 2,674 2,805 2,897 1.10 53.00 -- 40.00 -9.00 -- -- Retained Earnings
-22.73 -19.83 -60.36 5.50 0.77 -5.16 2.80 12.80 4.90 8.70 9.10 -24.00 -31.00 -29.00 -70.00 -43.00 -39.00 Accumulated other comprehensive
income (loss)
1,138 1,347 1,873 2,381 2,691 2,972 3,454 3,970 4,410 4,739 3,776 -- -- -- -- -- -- Additional Paid-In Capital
-136 -329 -818 -1,624 -2,527 -2,927 -2,927 -2,927 -2,927 -2,927 -- -- -- -- -- -- -- Treasury Stock
1,416 1,661 1,923 1,989 1,700 1,662 2,531 3,845 4,356 4,718 3,787 3,414 2,881 2,780 2,276 1,090 282 Total Equity
0.75 0.70 0.59 0.54 0.42 0.30 0.39 0.45 0.46 0.42 0.41 0.36 0.29 0.29 0.23 0.13 0.04 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NTAP 4/7
Cashflow Statement
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
152 226 266 298 310 64.60 400 673 605 505 638 560 229 481 116 1,169 1,019 Net Income
152 226 266 298 310 64.60 400 673 605 505 638 560 229 481 116 1,169 1,019 Net Income From Continuing
Operations
59.45 65.62 81.80 111 144 171 166 166 293 345 334 307 279 226 198 197 194 Depreciation, Depletion and
Amortization
-40.08 -103 -117 -175 -27.74 129 -21.30 -263 -90.40 23.10 -57.00 75.00 -16.00 90.00 -289 -185 44.00 Change In Receivables
-9.98 -15.00 -46.25 9.91 -15.38 9.10 -52.10 4.40 -16.50 22.00 17.00 -24.00 49.00 -66.00 36.00 -9.00 -13.00 Change In Inventory
-10.57 -2.34 -12.96 -6.37 -7.55 3.60 -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
11.71 30.46 17.41 36.59 20.03 164 42.70 38.70 11.40 78.60 20.00 -28.00 -23.00 8.00 424 -15.00 -260 Change In Payables And Accrued
Expense
115 153 184 397 463 530 209 290 331 279 206 165 300 27.00 978 -109 -193 Change In Working Capital
-21.45 6.32 1.55 -19.52 -53.03 -125 -12.20 -26.30 -60.90 -76.60 -76.00 -3.00 -113 74.00 270 -3.00 -1.00 Change In DeferredTax
-- -- -- -- -- 141 160 175 258 277 273 259 260 195 161 158 155 Stock Based Compensation
8.23 11.47 20.29 78.81 145 55.65 51.90 68.70 36.80 57.90 -25.00 -20.00 19.00 -17.00 -245 -71.00 -94.00 Cash Flow from Others
313 462 554 864 1,009 889 975 1,346 1,463 1,386 1,350 1,268 974 986 1,478 1,341 1,076 Cash Flow from Operations
-48.68 -93.57 -133 -166 -188 -290 -136 -223 -407 -303 -221 -175 -160 -175 -145 -173 -135 Purchase Of Property, Plant,
Equipment
0.12 -- 0.03 23.91 -- -- -- -- -- -- -- -- 102 -- 210 -- 96.00 Sale Of Property, Plant, Equipment
-- -- -- -- -- -- -- -137 -480 -107 -- -85.00 -842 -8.00 -75.00 -3.00 -56.00 Purchase Of Business
-1,052 -873 -1,029 -2,632 -1,058 -1,153 -2,633 -2,191 -3,572 -2,288 -1,019 -2,597 -1,589 -1,977 -1,389 -41.00 -31.00 Purchase Of Investment
860 606 901 2,821 1,449 1,036 1,772 1,772 2,148 2,465 1,993 1,952 2,571 1,934 1,379 917 1,534 Sale Of Investment
-19.77 9.15 -64.70 -131 -100 -597 8.20 0.50 1.60 4.20 7.00 2.00 3.00 3.00 -1.00 4.00 2.00 Cash From Other Investing Activities
-260 -351 -326 -83.78 103 -1,003 -988 -777 -2,310 -229 760 -903 85.00 -223 -21.00 704 1,410 Cash Flow from Investing
81.55 182 233 215 115 85.90 197 324 142 111 201 -- -- -- -- -- -- Issuance of Stock
-136 -193 -489 -806 -904 -400 -- -- -600 -590 -1,881 -1,165 -960 -705 -794 -2,111 -1,750 Repurchase of Stock
-- -- 300 -215 87.24 1,066 14.20 -- -- 987 -1,265 495 998 -351 -70.00 -136 128 Net Issuance of Debt
-- -- -- -- -- -- -- -- -- -- -202 -208 -210 -208 -214 -403 -431 Cash Flow for Dividends
-- -1.12 -1.06 57.89 39.37 -55.10 8.60 127 114 182 244 203 63.00 85.00 92.00 19.00 19.00 Other Financing
-54.62 -12.10 42.78 -747 -662 697 220 451 -344 579 -3,104 -675 -109 -1,179 -986 -2,631 -2,034 Cash Flow from Financing
0.46 101 268 27.82 447 558 211 1,052 -1,208 1,727 -986 -369 946 -427 497 -616 435 Net Change in Cash
-48.68 -93.57 -133 -166 -188 -290 -136 -223 -407 -303 -221 -175 -160 -175 -145 -173 -135 Capital Expenditure
264 369 421 699 821 600 839 1,124 1,056 1,083 1,129 1,093 814 811 1,333 1,168 941 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NTAP 5/7
Valuation Ratios
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
44.31 44.45 53.72 48.32 27.82 87.14 30.96 30.47 24.73 25.47 19.25 20.71 30.31 22.02 222 16.08 10.73 PE Ratio(TTM)
28.28 30.38 33.64 19.43 10.83 12.31 20.05 22.00 15.25 15.41 13.43 14.28 14.41 17.67 17.33 16.20 11.82 Price to Owner Earnings
(TTM)
4.70 5.89 7.25 6.87 4.86 3.69 4.76 5.00 3.25 2.64 3.05 3.25 2.31 3.86 7.69 16.04 37.06 Price to Book
6.09 7.26 10.24 10.47 8.89 6.56 6.51 6.34 4.40 3.51 4.32 4.83 6.48 11.11 39.54 -- -- Price to Tangible Book
25.42 27.75 34.23 20.68 10.60 10.25 14.83 18.41 14.05 11.84 10.94 10.61 8.53 13.78 14.00 15.99 11.58 Price-to-Free-Cash-Flow
Ratio
21.49 22.11 26.00 16.72 8.61 6.95 12.75 15.36 10.15 9.25 9.16 9.15 7.14 11.34 12.63 13.95 10.15 Price-to-Operating-Cash-
Flow Ratio
5.76 6.40 6.97 5.15 2.63 1.82 3.12 4.01 2.39 2.03 1.96 1.90 1.26 2.04 3.14 3.06 1.94 PS Ratio
3.54 2.75 1.59 1.37 1.30 9.43 4.61 1.67 0.89 0.91 0.75 2.25 19.68 -- 40.95 1.08 0.76 PEG Ratio
5.00 5.39 6.25 4.43 2.20 1.41 2.40 2.97 1.60 1.22 1.19 1.19 0.67 1.44 2.37 2.50 1.63 EV-to-Revenue
26.10 27.06 32.70 30.18 15.88 20.27 13.71 14.68 9.22 7.72 6.79 6.83 5.49 8.81 9.63 10.10 6.84 EV-to-EBITDA
35.51 34.09 41.24 41.28 23.17 72.41 18.07 17.48 12.66 11.76 9.71 9.61 9.39 11.77 11.14 11.60 8.01 EV-to-EBIT
2.82 2.93 2.42 2.42 4.32 1.38 5.53 5.72 7.90 8.50 10.30 10.41 10.65 8.50 8.98 8.62 12.50 Return on Capital %
13.98 17.81 21.48 22.28 25.57 17.83 11.94 22.37 26.09 27.27 27.65 17.84 14.52 7.61 10.61 19.95 27.75 Forward Rate of Return
-- -- 127 96.84 50.43 37.76 59.62 70.45 43.56 34.62 30.46 28.79 18.49 28.62 49.44 40.36 22.78 Shiller PE Ratio
-- -- -- -- -- -- -- -- -- -- 1.68 1.82 3.05 1.91 1.20 2.20 4.01 Dividend Yield %
Valuation and Quality
Apr04 Apr05 Apr06 Apr07 Apr08 Apr09 Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 TTM Fiscal Period
6,653 9,786 13,938 13,657 8,270 6,140 12,041 19,229 14,157 12,442 11,555 11,096 6,643 10,720 17,511 17,484 10,101 Market Cap
5,850 8,621 12,915 12,434 7,278 4,801 9,418 15,204 9,961 7,742 7,542 7,257 3,698 7,922 14,046 15,378 9,081 Enterprise Value
18.61 26.67 37.07 37.21 24.20 18.30 34.67 52.11 38.83 34.89 35.61 36.25 23.64 39.85 66.58 72.85 45.67 Month End Stock Price
0.97 1.25 -0.04 -0.98 -3.53 -3.59 -0.69 1.41 0.61 1.20 -1.31 -2.16 -6.59 -6.66 -8.84 -15.63 -18.31 Net Cash (per share)
1.76 2.35 1.85 1.56 -0.89 -1.11 1.65 4.64 4.53 5.31 3.22 2.57 -2.52 -1.91 -2.90 -8.50 -13.03 Net Current Asset Value
(per share)
1.42 1.91 0.88 0.30 -2.15 -2.51 0.49 3.07 2.54 3.08 0.86 -0.01 -4.25 -4.32 -5.62 -11.56 -15.37 Net-Net Working Capital (per
share)
6.61 8.59 11.38 15.36 23.15 26.39 31.02 35.34 40.67 43.83 46.37 57.05 45.16 42.16 43.98 57.91 57.83 Projected FCF (per share)
-- -- -- 53.31 63.31 64.90 65.36 65.11 71.45 66.46 58.66 52.90 45.18 43.85 46.58 54.40 53.48 Median PS (per share)
5.25 9.71 17.25 19.25 18.61 1.94 7.52 31.14 39.25 34.25 46.25 16.14 -- -- 1.63 67.50 88.15 Peter Lynch Fair Value (per
share)
5.37 6.98 7.50 7.85 7.26 3.45 11.64 17.78 17.71 17.51 18.43 17.19 7.95 11.75 3.99 -- -- Graham Number (per share)
3.45 4.79 5.78 10.31 13.05 15.16 20.19 24.83 29.07 34.55 39.58 43.11 40.69 41.63 39.87 45.00 45.52 Earnings Power Value
(EPV)
10.38 10.23 8.05 6.81 3.94 2.43 3.61 4.28 3.40 2.75 2.73 2.56 1.57 2.04 2.78 2.81 2.24 Altman Z-Score
5.00 6.00 5.00 5.00 6.00 5.00 7.00 7.00 6.00 5.00 7.00 8.00 4.00 7.00 6.00 7.00 7.00 Piotroski F-Score
-1.81 -2.69 -2.55 -2.90 -3.19 -3.55 -2.94 -2.40 -2.67 -2.99 -2.65 -2.98 -2.56 -2.79 -2.91 -2.43 -2.64 Beneish M-Score
0.46 0.26 0.38 0.24 0.19 0.08 -0.02 -0.03 0.02 0.00 -0.02 -0.05 -0.01 -0.00 -0.13 -0.10 -0.10 Scaled Net Operating
Assets
5.27 4.84 1.17 -13.20 -19.70 3.27 6.36 1.22 15.25 -5.80 -15.98 2.07 -8.27 -2.97 -13.42 -10.02 -19.60 Sloan Ratio (%)
3.16 3.03 2.22 1.89 1.46 2.05 2.37 1.89 1.94 2.20 2.40 2.50 1.76 1.50 1.97 1.45 1.20 Current Ratio
3.07 2.95 2.15 1.84 1.41 2.01 2.32 1.86 1.89 2.16 2.36 2.45 1.73 1.46 1.93 1.42 1.16 Quick Ratio
26.13 34.64 37.79 41.28 39.05 27.31 36.17 60.60 55.33 40.68 45.85 43.41 36.71 43.01 69.55 87.92 78.35 Highest Stock Price
13.63 16.57 22.77 26.92 19.49 10.39 16.93 31.47 33.64 26.33 33.87 33.59 21.22 22.82 37.97 54.82 44.55 Lowest Stock Price
-4.94 -2.65 -2.47 2.39 6.90 1.81 -3.50 -6.25 1.19 2.19 9.00 5.67 8.20 4.27 2.23 8.75 7.29 Shares Buyback Ratio (%)
26.84 29.24 27.39 35.67 26.72 11.29 9.33 16.89 24.66 6.09 5.62 4.95 -2.11 4.65 9.75 10.65 2.54 YoY Rev. per Sh. Growth
(%)
90.91 40.48 16.95 11.59 11.69 -77.91 495 51.33 -7.60 -13.29 33.58 -4.37 -56.00 122 -75.44 974 8.14 YoY EPS Growth (%)
48.09 34.41 22.24 4.33 19.60 -42.95 169 35.22 6.88 -3.06 17.17 3.60 -31.50 41.17 65.24 11.24 2.54 YoY EBITDA Growth (%)
12.50 16.19 33.73 35.33 21.39 9.24 6.71 18.21 27.84 27.95 25.75 9.22 1.54 -0.27 5.42 14.90 14.70 EBITDA 5-Y Growth (%)
346 358 371 371 352 330 340 361 364 362 340 316 294 275 268 254 226 Shares Outstanding (Basic
Average)
357 367 376 367 342 336 347 369 365 357 325 306 281 269 263 240 228 Shares Outstanding (EOP)
3.41 3.04 2.56 2.00 1.66 1.41 1.53 1.36 1.63 1.68 1.81 1.27 1.07 1.49 1.75 1.28 1.54 Beta
06/29/04 07/08/05 07/12/06 06/26/07 06/24/08 06/17/09 06/18/10 06/23/11 06/19/12 06/17/13 06/17/14 06/12/15 06/22/16 06/20/17 06/19/18 06/18/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NTAP 6/7
07/08/05 07/12/06 06/26/07 06/26/07 06/24/08 06/23/11 06/19/12 06/17/13 06/17/14 06/12/15 06/22/16 06/20/17 06/19/18 06/18/19 06/18/19 06/18/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NTAP 7/7
T. Rowe Price Group Inc (NAS:TROW) 03/03/2020 2:00PM EST GuruFocus
Price: $ 122.25 -3.23(-2.57%) Market Cap: $ 28.86 B Enterprise Value: $27.22 B Stock PDF
Financial Strength : 8/10 Profitability & Growth : 10/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 14.04
Cash to Debt 12.18 Operating margin (%) 42.49
Forward P/E N/A
Equity to Asset 0.76 Net-margin (%) 37.94
PE(NRI) 14.04
Interest Coverage N/A ROE (%) 31.50
F-Score:
P/B 4.02
ROA (%) 24.34
6 P/S 5.20
Z-Score: ROC (Joel Greenblatt) (%) 219.80
10.86 PFCF 22.17
Revenue Growth (3Y)(%) 11.20
M-Score: POCF 19.18
-2.34 EBITDA Growth (3Y)(%) 11.80
EV-to-EBIT 11.40
WACC vs 7.17% EPS Growth (3Y)(%) 22.40
ROIC 37.15% PEG 1.73
WACC
ROIC Shiller P/E 23.60
Current Ratio 9.86
Quick Ratio 9.86
Days Sales Outstanding 42.01
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year T. Rowe Price provides asset-management services for individual and institutional investors. It offers a broad range of
Price: Close to 10-year high no-load U.S. and international stock, hybrid, bond, and money market funds. At the end of October 2019, the firm
2016 994 1,045 1,093 1,153 4,285 had $1.145 trillion in managed assets, composed of equity (57%), balanced (30%) and fixed-income (13%) offerings.
PS Ratio: Close to 1-year high Approximately two thirds of the company's managed assets are held in retirement accounts and variable-annuity
2017 1,133 1,186 1,239 1,298 4,855
investment portfolios, which provides T. Rowe Price with a somewhat stickier client base than most of its peers. The
Insider Sell: Insider Selling 2018 1,328 1,345 1,395 1,305 5,373 firm also manages private accounts, provides retirement planning advice, and offers discount brokerage and trust
2019 1,327 1,395 1,427 1,469 5,618 services. The company is primarily a U.S.-based asset manager, deriving just 6% of its AUM from overseas.... (Read
2020 More)
Good Signs Competitors: NYSE:KKR, NYSE:STT, XSWX:PGHN, NYSE:BK, NYSE:AMP, NAS:NTRS, OSTO:INVE A,
Quarterly Earnings per Share NYSE:APO, MIL:EXO, NAS:CG, TPE:2882, XPAR:AMUN, XBRU:GBLB, OSTO:EQT, LSE:SDR, XAMS:HAL,
Financial Strength: Strong NYSE:BEN, OSTO:INDU A, OSTO:LATO B, OSTO:LUND B
Financial Strength Mar Jun Sep Dec Full Year
2016 1.18 0.79 1.28 1.50 4.75 Insider Trades
Altman Z-Score: Strong 2017 1.54 1.50 1.56 1.37 5.97
Interest Coverage: 2018 1.77 1.77 2.30 1.41 7.25
Comfortable 2019 2.09 2.15 2.23 2.24 8.71
2020
Revenue per Share:
Consistent growth Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.54 0.54 0.54 0.54 2.16
2017 0.57 0.57 0.57 0.57 2.28
EPS without NRI: $8.71 2018 0.70 0.70 0.70 0.70 2.80
Growth Rate in the next 10 2019 0.76 0.76 0.76 0.76 3.04
years: 15.20% 2020
Terminal Growth Rate for 10
years: 4% Growth Rate
Fair Value: $180.58 Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 12.00 10.00 8.20
Reverse DCF EBITDA Growth (%) 12.30 8.30 6.50
Expected eps Growth Rate: Free Cash Flow Growth (%) -4.90 5.80 -6.00
9.23% Book Value Growth (%) 9.70 8.90 18.10
EPS Growth (%) 15.20 14.80 19.70
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TROW 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
4.75 5.54 6.51 7.98 7.84 7.12 8.93 10.43 11.58 13.08 14.89 16.10 17.12 19.81 21.76 23.55 23.55 Revenue per Share
2.10 2.56 2.99 3.76 3.37 2.93 4.15 4.94 5.54 6.49 7.49 7.76 7.72 8.99 10.15 10.80 10.81 EBITDA per Share
1.96 2.40 2.82 3.57 3.14 2.68 3.91 4.66 5.23 6.15 7.07 7.28 7.19 8.40 9.50 10.00 10.00 EBIT per Share
1.26 1.58 1.90 2.40 1.82 1.65 2.53 2.92 3.36 3.90 4.55 4.63 4.75 5.97 7.27 8.70 8.71 Earnings per Share (diluted)
1.26 1.58 1.90 2.40 1.82 1.65 2.53 2.92 3.36 3.90 4.55 4.63 4.75 5.97 7.27 8.70 8.71 eps without NRI
1.24 1.85 1.81 2.21 1.82 1.18 2.04 2.90 3.23 4.09 4.81 5.33 5.06 7.02 8.10 9.60 9.60 Owner Earnings per Share (TTM)
1.23 1.79 1.79 2.19 2.21 1.53 2.32 3.29 3.16 4.23 4.55 5.29 0.09 0.18 5.88 5.52 5.52 Free Cashflow per Share
0.40 0.49 0.59 0.75 0.96 1.00 1.08 1.24 1.36 1.52 1.76 2.08 2.16 2.28 2.80 3.04 3.04 Dividends per Share
6.55 7.73 9.16 10.50 9.72 11.15 12.74 13.51 14.96 18.39 20.66 19.01 20.46 23.76 25.73 30.39 30.39 Book Value per Share
3.98 5.20 6.63 7.98 7.12 8.57 10.17 10.88 12.37 15.84 18.11 16.36 17.74 21.05 22.93 27.54 27.54 Tangible Book per Share
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.63 0.63 Total Debt per Share
31.10 36.02 43.77 60.88 35.44 53.25 64.54 56.95 65.12 83.77 85.86 71.49 75.26 105 92.32 122 122 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
22.29 23.09 23.73 25.77 18.64 16.09 21.76 23.02 24.32 24.18 24.08 24.08 24.87 27.03 30.03 31.39 31.50 Return on Equity %
19.41 20.33 20.87 22.57 16.37 14.38 19.62 20.86 22.16 22.69 23.03 22.75 21.44 21.77 24.14 25.05 24.34 Return on Assets %
455 291 325 320 211 135 163 193 221 222 224 220 210 231 252 226 220 Return on Capital %
30.21 39.56 33.64 34.04 27.09 22.03 28.17 30.31 30.60 31.59 31.76 31.02 31.14 33.64 40.37 36.08 37.15 Return on Invested Capital %
13.11 15.19 15.79 13.33 11.34 14.40 13.74 12.24 10.23 10.39 10.82 10.30 9.53 9.76 9.01 7.77 7.17 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Effective Interest Rate on Debt %
-- -- -- 95.87 95.19 94.52 61.83 61.98 62.16 63.43 63.00 62.03 56.43 57.29 58.18 57.55 57.55 Gross Margin %
41.13 43.31 43.36 44.72 40.09 37.57 43.79 44.66 45.14 47.00 47.48 45.21 42.00 42.41 43.67 42.49 42.49 Operating Margin %
26.41 28.50 29.18 30.09 23.19 23.22 28.40 28.15 29.23 30.07 30.88 29.11 28.36 30.85 34.20 37.94 37.94 Net Margin %
25.94 32.22 27.48 27.48 28.24 21.51 25.97 31.53 27.33 32.36 30.58 32.83 0.52 0.89 27.01 23.46 23.46 FCF Margin %
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.02 0.02 Debt to Equity
0.88 0.88 0.88 0.87 0.88 0.90 0.91 0.91 0.92 0.96 0.96 0.93 0.81 0.77 0.80 0.76 0.76 Total Equity to Total Asset
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.02 0.02 Total Debt to Total Asset
73.48 71.34 71.52 71.89 67.19 58.54 42.72 45.94 47.13 47.86 46.99 48.47 42.67 40.43 41.06 37.99 36.92 Gross Profit to Total Asset %
0.74 0.71 0.72 0.75 0.71 0.62 0.69 0.74 0.76 0.75 0.75 0.78 0.76 0.71 0.71 0.66 0.64 Asset Turnover
0.32 0.31 0.31 0.31 0.53 0.61 0.43 0.43 0.41 0.39 0.39 0.45 0.46 0.38 0.39 0.35 0.35 Dividend Payout Ratio
45.26 42.24 44.95 43.46 30.58 48.12 47.48 40.46 42.74 41.78 40.59 38.75 38.77 42.50 37.34 42.01 42.01 Days Sales Outstanding
-- -- -- 394 311 285 32.07 28.97 28.63 29.76 35.53 39.04 35.34 38.06 37.12 32.83 32.83 Days Accounts Payable
45.26 42.24 44.95 -351 -281 -237 15.41 11.49 14.11 12.02 5.06 -0.29 3.43 4.44 0.22 9.18 9.18 Cash Conversion Cycle
-- -- -- 0.04 0.05 0.05 0.38 0.38 0.38 0.37 0.37 0.38 0.44 0.43 0.42 0.42 0.42 COGS to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TROW 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,277 1,512 1,815 2,228 2,116 1,867 2,367 2,747 3,023 3,484 3,982 4,201 4,285 4,855 5,373 5,618 5,618 Revenue
-- -- -- 92.10 102 102 904 1,044 1,144 1,274 1,473 1,595 1,867 2,074 2,247 2,385 2,385 Cost of Goods Sold
1,277 1,512 1,815 2,136 2,015 1,765 1,464 1,703 1,879 2,210 2,509 2,606 2,418 2,781 3,126 3,233 3,233 Gross Profit
-- -- -- 95.87 95.19 94.52 61.83 61.98 62.16 63.43 63.00 62.03 56.43 57.29 58.18 57.55 57.55 Gross Margin %
74.27 86.10 97.30 905 920 847 196 206 213 223 220 239 618 723 780 846 846 Selling, General, & Admin. Expense
678 771 931 235 246 217 231 270 301 350 398 468 -- -- -- -- -- Other Operating Expense
525 655 787 996 849 702 1,037 1,227 1,364 1,637 1,891 1,899 1,800 2,059 2,346 2,387 2,387 Operating Income
41.13 43.31 43.36 44.72 40.09 37.57 43.79 44.66 45.14 47.00 47.48 45.21 42.00 42.41 43.67 42.49 42.49 Operating Margin %
-- -- -- -- -- -- -3.50 -- -2.30 -- -- -- -- -- -- -- -- Interest Expense
-- -- -- -- -- -- -3.50 -- -2.30 -- -- -- -- -- -- -- -- Net Interest Income
8.50 24.40 71.40 80.40 -52.30 -12.70 37.00 23.70 73.10 63.00 112 104 161 446 38.40 540 540 Other Income (Expense)
-- -- -- -- -- -- -- -- -- -- -- -- -39.00 -83.40 68.80 -118 -118 Other Income (Minority Interest)
534 679 858 1,077 796 689 1,070 1,251 1,435 1,700 2,003 2,002 1,961 2,505 2,385 2,927 2,927 Pre-Tax Income
-197 -248 -329 -406 -305 -255 -398 -477 -552 -653 -774 -779 -707 -924 -616 -678 -678 Tax Provision
36.82 36.56 38.30 37.72 38.36 37.06 37.18 38.17 38.43 38.39 38.62 38.92 36.04 36.88 25.83 23.17 23.17 Tax Rate %
337 431 530 671 491 434 672 773 884 1,048 1,230 1,223 1,254 1,581 1,769 2,249 2,249 Net Income (Continuing Operations)
337 431 530 671 491 434 672 773 884 1,048 1,230 1,223 1,215 1,498 1,838 2,131 2,131 Net Income
26.41 28.50 29.18 30.09 23.19 23.22 28.40 28.15 29.23 30.07 30.88 29.11 28.36 30.85 34.20 37.94 37.94 Net Margin %
1.33 1.65 2.01 2.53 1.89 1.69 2.60 3.01 3.47 4.02 4.68 4.74 4.85 6.07 7.41 8.82 8.82 EPS (Basic)
1.26 1.58 1.90 2.40 1.82 1.65 2.53 2.92 3.36 3.90 4.55 4.63 4.75 5.97 7.27 8.70 8.71 EPS (Diluted)
269 273 279 279 270 262 265 263 261 266 267 261 250 245 247 239 237 Shares Outstanding (Diluted
Average)
40.02 42.30 46.50 54.00 62.30 65.70 63.00 72.40 80.90 90.60 112 126 133 144 160 191 191 Depreciation, Depletion and
Amortization
565 697 833 1,050 911 767 1,100 1,299 1,445 1,728 2,003 2,025 1,933 2,202 2,506 2,578 2,578 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TROW 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
500 804 773 785 619 743 813 898 879 1,398 1,506 1,172 1,205 1,903 1,425 1,782 1,782 Cash And Cash Equivalents
329 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
829 804 773 785 619 743 813 898 879 1,398 1,506 1,172 1,205 1,903 1,425 1,782 1,782 Cash, Cash Equivalents, Marketable
Securities
158 175 224 265 177 246 308 305 354 399 443 446 455 565 550 647 647 Accounts Receivable
-- -- -- -- -0.00 -- -- -- -- -- 0.00 -- -- -- -0.00 -- -- Other Current Assets
987 979 997 1,050 796 990 1,121 1,202 1,233 1,797 1,949 1,618 1,660 2,468 1,975 2,428 2,428 Total Current Assets
329 402 762 1,002 721 906 1,142 1,169 1,581 1,926 2,292 2,019 2,938 3,526 4,134 5,217 5,217 Investments And Advances
-- -- -- 21.50 22.40 38.80 39.00 43.00 43.00 43.00 43.00 43.00 43.00 40.10 40.10 36.10 36.10 Land And Improvements
-- -- -- 204 273 361 395 392 382 387 397 415 422 443 455 466 466 Buildings And Improvements
-- -- -- 349 360 377 426 457 489 562 644 757 862 993 1,044 1,157 1,157 Machinery, Furniture, Equipment
204 215 265 640 732 856 941 987 1,015 1,084 1,177 1,314 1,436 1,597 1,675 1,928 1,928 Gross Property, Plant and Equipment
-- -- -- -282 -292 -343 -381 -420 -454 -511 -591 -706 -820 -945 -1,014 -1,142 -1,142 Accumulated Depreciation
204 215 265 358 440 513 560 567 561 573 586 607 615 652 661 785 785 Property, Plant and Equipment
666 666 669 666 666 666 666 666 666 666 666 666 666 666 666 666 666 Intangible Assets
666 666 669 666 666 666 666 666 666 666 666 666 666 666 666 666 666 Goodwill
-257 49.90 72.10 101 196 137 153 166 162 72.20 151 197 346 224 254 234 234 Other Long Term Assets
1,929 2,311 2,765 3,177 2,819 3,210 3,642 3,770 4,203 5,033 5,644 5,107 6,225 7,535 7,689 9,330 9,330 Total Assets
54.17 62.50 77.20 99.50 86.80 79.90 79.40 82.90 89.70 104 143 171 181 216 229 215 215 Accounts Payable
9.33 15.60 33.90 41.70 25.30 33.60 33.80 30.00 21.50 38.70 23.60 21.20 39.30 68.30 54.20 31.80 31.80 Total Tax Payable
131 171 224 286 173 167 185 113 111 143 167 192 220 285 283 246 246 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 174 155 -- -- -- -- -- -- -- -- Current Deferred Revenue
-- -- -- -- -- -- -- 174 155 -- -- -- -- -- -- -- -- DeferredTaxAndRevenue
131 171 224 286 173 167 185 286 266 143 167 192 220 285 283 246 246 Total Current Liabilities
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 146 146 Capital Lease Obligation
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 146 146 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 0.02 0.02 Debt to Equity
-- -- -- -- -- -- -- 63.20 90.80 72.40 82.20 84.20 92.60 109 123 112 112 PensionAndRetirementBenefit
100 104 115 114 158 161 160 0.00 0.00 -- -0.00 68.90 904 1,318 1,159 1,724 1,724 Other Long-Term Liabilities
232 274 338 400 331 328 346 350 357 215 249 345 1,216 1,711 1,565 2,228 2,228 Total Liabilities
25.92 26.30 53.00 52.90 51.40 51.70 51.70 50.70 51.40 52.40 52.20 50.10 49.00 49.00 47.60 47.00 47.00 Common Stock
1,379 1,683 2,057 2,333 2,087 2,240 2,599 2,765 3,032 3,683 4,450 3,971 4,294 4,933 5,464 6,444 6,444 Retained Earnings
41.67 48.50 69.30 95.00 -13.10 102 139 103 132 188 136 86.60 11.50 -3.60 -42.00 -43.00 -43.00 Accumulated other comprehensive
income (loss)
251 280 248 296 364 489 506 502 631 895 757 655 655 846 655 655 655 Additional Paid-In Capital
1,697 2,036 2,427 2,777 2,489 2,882 3,297 3,421 3,846 4,818 5,395 4,762 5,009 5,824 6,124 7,102 7,102 Total Equity
0.88 0.88 0.88 0.87 0.88 0.90 0.91 0.91 0.92 0.96 0.96 0.93 0.81 0.77 0.80 0.76 0.76 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TROW 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
337 431 530 671 491 434 672 773 884 1,048 1,230 1,223 1,254 1,581 1,769 2,249 2,249 Net Income
337 431 530 671 491 434 672 773 884 1,048 1,230 1,223 1,254 1,581 1,769 2,249 2,249 Net Income From Continuing
Operations
40.02 42.30 46.50 54.00 62.30 65.70 63.00 72.40 80.90 90.60 112 126 133 144 160 191 191 Depreciation, Depletion and
Amortization
-- -- -- -42.70 89.40 -69.30 -62.50 2.80 -49.70 -44.70 -31.50 -3.20 -10.50 -101 12.70 -- -- Change In Receivables
-- -- -- 23.90 -45.60 -15.60 26.70 -4.90 35.30 -5.10 36.50 98.20 139 323 111 -- -- Change In Payables And Accrued
Expense
-3.00 63.00 -27.20 -46.70 11.90 -88.90 -84.30 8.10 -30.00 32.40 15.80 102 3.40 221 112 110 110 Change In Working Capital
-- -- -- 79.80 85.50 89.10 89.50 98.70 104 115 133 149 162 152 197 207 207 Stock Based Compensation
-0.00 3.20 44.30 -0.00 -0.00 0.00 -7.60 -4.00 -136 -52.10 -147 -69.90 -1,382 -1,868 -617 -1,233 -1,233 Cash Flow from Others
374 540 593 758 742 536 733 948 903 1,233 1,344 1,531 171 230 1,620 1,523 1,523 Cash Flow from Operations
-43.07 -52.30 -94.40 -146 -144 -134 -118 -82.30 -76.90 -106 -126 -151 -148 -186 -169 -205 -205 Purchase Of Property, Plant,
Equipment
-- -- -0.00 -- -- -- -144 -- -- -- -- -- -- -- -- -- -- Purchase Of Business
-- -- 0.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Business
-79.76 -71.30 -363 -218 -171 -137 -82.00 -127 -530 -406 -472 -165 -0.30 -104 -1,148 -258 -258 Purchase Of Investment
43.59 71.50 39.80 42.10 200 111 78.00 52.10 310 85.70 167 435 261 337 352 131 131 Sale Of Investment
3.38 -39.50 -3.90 -23.10 -9.70 -7.10 -11.30 -7.60 -13.20 -11.50 -11.90 -9.40 -5.70 -7.40 88.40 6.80 6.80 Cash From Other Investing Activities
-75.87 -91.60 -421 -345 -125 -167 -277 -165 -310 -438 -443 109 106 39.00 -876 -325 -325 Cash Flow from Investing
75.15 48.00 105 91.60 100 47.70 83.00 50.60 -- -- -- -- -- -- -- -- -- Issuance of Stock
-18.33 -75.90 -171 -312 -614 -71.00 -240 -480 -135 -14.10 -416 -988 -677 -458 -1,090 -706 -706 Repurchase of Stock
-- -- -- -- -- -- -- 13.10 -- -- -- -- -- -- -- -- -- Net Issuance of Debt
-96.16 -120 -148 -180 -313 -257 -279 -318 -603 -397 -462 -1,059 -541 -563 -694 -734 -734 Cash Flow for Dividends
4.15 3.40 116 -0.40 43.50 35.50 133 85.90 127 134 85.20 73.50 1,041 1,483 545 607 607 Other Financing
-35.20 -144 -203 -401 -783 -245 -386 -699 -612 -277 -792 -1,973 -176 462 -1,240 -833 -833 Cash Flow from Financing
263 304 -30.60 12.10 -166 124 69.80 84.80 -18.80 519 108 -334 98.20 735 -511 363 363 Net Change in Cash
-43.07 -52.30 -94.40 -146 -144 -134 -118 -82.30 -76.90 -106 -126 -151 -148 -186 -169 -205 -205 Capital Expenditure
331 487 499 612 598 402 615 866 826 1,127 1,218 1,379 22.20 43.40 1,451 1,318 1,318 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TROW 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
24.78 22.73 23.04 25.37 19.69 32.27 25.61 19.57 19.38 21.48 18.87 15.51 15.84 17.58 12.73 13.99 14.04 PE Ratio(TTM)
25.10 19.49 24.13 27.54 19.52 45.05 31.62 19.61 20.17 20.49 17.84 13.40 14.87 14.95 11.40 12.70 12.74 Price to Owner Earnings
(TTM)
4.75 4.66 4.78 5.80 3.65 4.78 5.07 4.22 4.35 4.56 4.16 3.76 3.68 4.42 3.59 4.01 4.02 Price to Book
7.81 6.92 6.60 7.63 4.98 6.21 6.35 5.24 5.26 5.29 4.74 4.37 4.24 4.99 4.03 4.42 4.44 Price to Tangible Book
25.10 20.17 24.44 27.75 16.17 34.74 27.84 17.25 20.54 19.76 18.89 13.59 875 573 15.77 22.09 22.17 Price-to-Free-Cash-Flow
Ratio
22.23 18.21 20.56 22.42 12.99 26.06 23.37 15.75 18.80 18.06 17.11 12.24 111 112 14.12 19.12 19.18 Price-to-Operating-Cash-
Flow Ratio
6.55 6.50 6.72 7.63 4.53 7.49 7.24 5.42 5.62 6.40 5.77 4.44 4.39 5.30 4.24 5.17 5.20 PS Ratio
-- 1.78 2.47 7.15 1.02 4.53 4.66 2.60 1.71 1.13 1.12 1.14 1.49 2.15 1.63 1.66 1.73 PEG Ratio
5.66 5.74 5.96 6.88 4.00 6.97 6.71 4.92 5.25 5.90 5.25 3.98 4.02 4.91 3.83 4.78 4.85 EV-to-Revenue
12.79 12.45 12.99 14.59 9.28 16.97 13.80 10.41 10.97 11.90 10.44 8.26 8.91 10.81 8.20 10.41 10.55 EV-to-EBITDA
13.77 13.26 13.76 15.38 9.96 18.56 14.60 11.02 11.62 12.55 11.06 8.81 9.57 11.57 8.76 11.24 11.40 EV-to-EBIT
7.26 7.54 7.27 6.50 10.04 5.39 6.85 9.07 8.61 7.97 9.04 11.35 10.45 8.64 11.42 8.90 8.76 Return on Capital %
2.37 15.93 12.24 6.07 24.43 10.55 8.50 11.43 15.02 22.32 20.78 19.12 15.01 10.79 11.15 11.13 11.05 Forward Rate of Return
37.41 36.93 38.21 44.77 24.47 34.78 38.45 29.70 29.74 33.40 30.63 23.08 22.10 27.48 20.93 23.54 23.60 Shiller PE Ratio
1.29 1.35 1.35 1.23 2.71 1.88 1.67 2.18 2.09 1.81 2.05 2.91 2.87 2.17 3.03 2.50 2.49 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
8,062 9,486 11,597 16,109 9,074 13,767 16,700 14,424 16,737 21,954 22,419 17,906 18,422 25,719 21,979 28,471 28,856 Market Cap
7,233 8,683 10,824 15,324 8,455 13,024 15,887 13,526 15,858 20,556 20,913 16,734 17,218 23,817 20,553 26,836 27,221 Enterprise Value
31.10 36.02 43.77 60.88 35.44 53.25 64.54 56.95 65.12 83.77 85.86 71.49 75.26 105 92.32 122 122 Month End Stock Price
2.30 2.01 1.64 1.45 1.13 1.61 1.81 2.16 2.03 4.51 4.81 3.30 -0.05 0.78 -0.59 -1.91 -1.91 Net Cash (per share)
2.92 2.67 2.48 2.46 1.82 2.56 3.00 3.37 3.41 6.04 6.51 5.08 1.81 3.09 1.72 0.86 0.86 Net Current Asset Value
(per share)
2.76 2.51 2.27 2.21 1.65 2.32 2.70 3.07 3.07 5.66 6.09 4.64 1.35 2.51 1.14 0.16 0.16 Net-Net Working Capital (per
share)
13.92 16.48 25.31 29.65 33.73 32.05 33.70 38.84 44.51 55.47 63.53 73.56 66.88 61.09 67.72 73.69 73.69 Projected FCF (per share)
22.53 27.51 34.61 44.32 44.51 42.17 55.97 67.34 74.47 84.33 94.82 100 103 115 124 132 132 Median PS (per share)
31.25 20.22 17.73 56.98 34.88 11.75 13.83 21.88 38.07 74.30 76.67 62.93 50.64 48.83 56.77 73.51 73.51 Peter Lynch Fair Value (per
share)
10.60 13.60 16.84 20.76 17.08 17.84 24.06 26.73 30.59 37.29 43.06 41.28 43.55 53.17 61.24 73.43 73.47 Graham Number (per share)
14.40 17.10 19.17 18.51 21.75 23.57 25.51 29.12 30.17 35.21 41.38 45.65 51.29 58.04 63.60 72.48 72.48 Earnings Power Value
(EPV)
24.00 23.81 23.62 27.29 19.45 27.75 31.93 27.90 31.29 64.49 57.34 34.69 12.06 12.02 11.41 10.55 10.86 Altman Z-Score
7.00 6.00 6.00 7.00 6.00 5.00 7.00 7.00 8.00 8.00 5.00 5.00 6.00 6.00 6.00 6.00 6.00 Piotroski F-Score
-- -2.56 -2.43 -3.67 -3.02 -2.15 -1.85 -2.82 -2.51 -2.45 -2.55 -2.93 -1.94 -1.83 -2.34 -2.34 -2.34 Beneish M-Score
0.56 0.64 0.72 0.72 0.59 0.76 0.77 0.69 0.79 0.81 0.77 0.64 0.75 0.63 0.62 0.71 0.58 Scaled Net Operating
Assets
2.01 -0.73 12.93 8.10 -4.47 2.02 5.94 -0.27 6.92 5.01 5.83 -8.16 15.07 16.31 14.22 10.00 10.00 Sloan Ratio (%)
7.53 5.74 4.45 3.67 4.61 5.93 6.06 4.20 4.64 12.60 11.67 8.44 7.54 8.67 6.99 9.86 9.86 Current Ratio
7.53 5.74 4.45 3.67 4.61 5.93 6.06 4.20 4.64 12.60 11.67 8.44 7.54 8.67 6.99 9.86 9.86 Quick Ratio
31.57 37.37 48.31 64.70 65.01 54.27 65.37 71.10 66.50 83.77 87.59 85.86 78.61 105 126 125 140 Highest Stock Price
22.34 27.41 35.24 43.77 25.13 21.01 43.60 45.89 55.21 65.12 73.94 68.27 63.21 66.45 84.95 88.81 95.07 Lowest Stock Price
-3.74 -1.60 -0.61 0.13 3.24 -0.98 -0.09 2.12 -1.48 -1.97 0.37 4.08 2.27 -0.13 2.87 1.84 1.84 Shares Buyback Ratio (%)
23.08 16.67 17.46 22.56 -1.83 -9.14 25.42 16.84 10.99 12.99 13.82 8.11 6.33 15.71 9.85 8.20 8.24 YoY Rev. per Sh. Growth
(%)
42.61 25.90 20.25 26.32 -24.17 -9.34 53.33 15.42 15.07 16.07 16.67 1.76 2.59 25.68 21.78 19.67 20.14 YoY EPS Growth (%)
48.69 21.48 16.98 25.82 -10.37 -13.26 41.78 19.00 12.20 17.19 15.41 3.65 -0.50 16.35 12.94 6.45 6.50 YoY EBITDA Growth (%)
-0.71 12.76 9.33 3.55 19.38 7.12 5.49 7.52 11.33 19.05 16.85 13.65 10.66 8.18 7.83 8.44 8.30 EBITDA 5-Y Growth (%)
255 261 263 265 259 256 257 256 253 258 260 255 246 241 242 235 234 Shares Outstanding (Basic
Average)
259 263 265 265 256 259 259 253 257 262 261 250 245 245 238 234 234 Shares Outstanding (EOP)
1.48 1.80 1.85 1.55 1.52 1.76 1.74 1.73 1.41 1.23 1.44 1.34 1.18 1.23 1.05 0.98 1.01 Beta
03/01/05 02/16/06 02/08/07 02/07/08 02/06/09 02/05/10 02/08/11 02/03/12 02/05/13 02/04/14 02/05/15 02/05/16 02/07/17 02/16/18 02/13/19 02/13/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TROW 6/7
02/16/06 02/08/07 02/07/08 02/06/09 02/06/09 02/08/11 02/05/13 02/04/14 02/05/15 02/05/16 02/07/17 02/16/18 02/13/19 02/13/20 02/13/20 02/13/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TROW 7/7
Alliant Energy Corp (NAS:LNT) 03/03/2020 2:00PM EST GuruFocus
Price: $ 55.35 -0.01(-0.02%) Market Cap: $ 13.56 B Enterprise Value: $20.27 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 23.76
Equity to Asset 0.31 Operating margin (%) 21.32
Forward P/E N/A
Interest Coverage 2.85 Net-margin (%) 15.56
F-Score: PE(NRI) 23.76
ROE (%) 11.54
5 P/B 2.57
Z-Score: ROA (%) 3.52
1.27 P/S 3.63
ROC (Joel Greenblatt) (%) 7.03
WACC vs 3.05% PFCF 20.05
ROIC 6.15% Revenue Growth (3Y)(%) 1.40
WACC POCF 20.05
EBITDA Growth (3Y)(%) 10.10
ROIC
EV-to-EBIT 22.32
EPS Growth (3Y)(%) 12.20
PEG 4.18
Shiller P/E 29.80
Current Ratio 0.43
Quick Ratio 0.32
Days Inventory 34.54
Days Sales Outstanding 8.44
Warning Signs Quarterly Revenues Company Description
Interest Coverage: Low Mar Jun Sep Dec Full Year Alliant Energy is the parent of two regulated utilities, Interstate Power and Light and Wisconsin Power and Light,
serving nearly 1 million electricity and 400,000 natural gas customers. Both subsidiaries engage in the generation and
2016 844 755 925 797 3,320 distribution of electricity and the distribution and transportation of natural gas. Alliant also owns a 16% interest in
Dividend Yield %: Close to
2017 854 765 907 856 3,382 American Transmission Co.... (Read More)
10-year low , , , , , , ,
2018 916 816 929 874 3,535 Competitors: XSGO:ENELAM MIL:TRN XKRX:015760 BOM:532898 BSP:ELET3 TSX:H NYSE:EVRG
NYSE:PNW, XMAD:REE, NYSE:AGR, BSP:CPFE3, NYSE:PCG, BSP:EGIE3, SAU:5110, NYSE:OGE, NYSE:CMS,
Price: Close to 10-year high 2019 987 790 990 880 3,648 HKSE:02638, TSX:FTS, NYSE:AEE, MIC:IRAO
2020
PB Ratio: Close to 10-year
Insider Trades
high Quarterly Earnings per Share
PS Ratio: Close to 10-year Mar Jun Sep Dec Full Year
high 2016 0.43 0.37 0.57 0.28 1.65
2017 0.44 0.41 0.73 0.41 1.99
2018 0.52 0.43 0.87 0.36 2.18
Good Signs 2019 0.53 0.40 0.94 0.46 2.33
Operating Margin %: 2020
Expansion Quarterly Dividends Per Share
PB Ratio: Close to 1-year low Mar Jun Sep Dec Full Year
2016 0.29 0.29 0.29 0.29 1.18
DCF 2017 0.32 0.32 0.32 0.32 1.26
2018 0.34 0.34 0.34 0.34 1.34
GuruFocus does not 2019 0.36 0.36 0.36 0.36 1.42
calculate intrinsic value: DCF 2020
(Earnings Based) for
companies with one star Growth Rate
predictability or not rated. But Annual Rates(per share) 10-Y 5-Y 12-M
you can go to each stock's
Revenue Growth (%) 0.10 0.60 0.90
DCF page to calculate
yourself. EBITDA Growth (%) 5.90 5.70 9.00
Free Cash Flow Growth (%) 0.00 -8.80 22.30
Reverse DCF Book Value Growth (%) 4.90 6.70 12.10
GuruFocus does not EPS Growth (%) 10.40 7.20 6.40
calculate reverse DCF growth
rate for companies with one
star predictability or not rated.
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LNT 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
12.34 14.04 14.33 15.28 16.69 15.53 14.76 14.55 13.96 14.79 15.11 14.44 14.62 14.72 15.13 15.26 15.27 Revenue per Share
3.48 2.24 3.02 4.77 3.86 2.49 4.37 4.29 4.40 4.60 4.79 4.71 4.63 5.27 5.67 6.18 6.17 EBITDA per Share
1.80 0.61 1.72 3.39 2.56 1.24 2.81 2.57 2.65 2.75 2.80 2.88 2.82 3.26 3.50 3.80 3.80 EBIT per Share
0.64 -0.04 1.35 1.89 1.31 0.51 1.30 1.37 1.45 1.62 1.73 1.68 1.64 1.99 2.19 2.33 2.33 Earnings per Share (diluted)
0.96 0.24 1.45 1.89 1.27 0.50 1.32 1.46 1.47 1.65 1.74 1.69 1.65 1.99 2.19 2.33 2.33 eps without NRI
-1.24 -1.53 0.25 1.45 -0.34 0.46 2.10 0.57 0.98 0.54 1.23 1.21 1.21 0.25 -- -- 1.26 Owner Earnings per Share (TTM)
-0.41 0.16 0.03 0.21 -2.45 -2.23 4.46 0.43 3.80 3.30 4.02 3.87 1.73 2.27 2.26 2.76 2.76 Free Cashflow per Share
0.51 0.53 0.58 0.64 0.70 0.75 0.79 0.85 0.90 0.94 1.02 1.10 1.18 1.26 1.34 1.42 1.42 Dividends per Share
11.07 10.43 11.41 12.15 13.61 13.36 13.32 13.57 14.12 14.79 15.50 16.41 16.96 18.08 19.43 21.78 21.56 Book Value per Share
11.07 10.43 11.41 12.15 13.61 13.36 13.32 13.57 14.12 14.79 15.50 16.41 16.96 18.08 19.43 21.78 21.56 Tangible Book per Share
10.83 10.12 7.30 7.50 8.92 12.18 12.41 12.64 15.12 16.30 17.62 17.61 20.05 22.83 25.18 27.31 27.04 Total Debt per Share
14.30 14.02 18.89 20.35 14.59 15.13 18.39 22.06 21.96 25.80 33.21 31.23 37.89 42.61 42.25 54.72 55.35 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5.90 -1.06 11.67 15.25 10.13 3.72 9.44 9.87 10.40 11.17 11.40 10.56 9.79 11.37 11.68 11.38 11.54 Return on Equity %
1.81 -0.10 4.26 5.96 3.99 1.50 3.34 3.39 3.28 3.44 3.39 3.16 2.95 3.39 3.53 3.53 3.52 Return on Assets %
8.31 2.80 8.27 15.83 11.26 4.66 9.43 8.27 7.89 7.53 7.19 7.03 6.46 6.96 6.90 7.00 7.03 Return on Capital %
6.11 48.14 5.79 12.40 8.10 8.48 6.78 7.30 6.55 6.83 6.71 6.35 6.54 6.43 6.26 6.13 6.15 Return on Invested Capital %
5.13 6.65 5.98 4.02 5.23 6.71 6.09 4.88 4.38 5.28 5.22 5.09 4.42 3.92 4.06 3.56 3.05 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 6.94 6.64 5.98 5.69 5.09 4.96 4.80 4.73 4.58 4.38 4.40 4.38 4.31 Effective Interest Rate on Debt %
59.20 69.22 62.57 65.01 50.28 49.06 28.91 28.95 30.71 30.65 30.83 33.26 34.27 36.62 36.94 39.91 39.91 Gross Margin %
14.56 4.32 11.99 22.20 13.27 11.56 17.17 15.93 16.79 16.29 16.23 17.73 18.79 19.85 19.65 21.32 21.32 Operating Margin %
5.19 -0.23 9.40 12.37 8.33 3.78 9.39 9.99 10.85 11.48 11.74 11.94 11.50 13.82 14.78 15.56 15.56 Net Margin %
-3.28 1.15 0.18 1.36 -14.69 -14.37 30.19 2.94 27.18 22.31 26.61 26.78 11.83 15.42 14.93 18.10 18.10 FCF Margin %
0.98 0.97 0.64 0.62 0.66 0.91 0.88 0.93 1.07 1.10 1.14 1.07 1.18 1.26 1.30 1.25 1.25 Debt to Equity
0.31 0.32 0.37 0.37 0.37 0.33 0.34 0.31 0.29 0.30 0.29 0.30 0.29 0.30 0.30 0.31 0.31 Total Equity to Total Asset
0.30 0.31 0.24 0.23 0.24 0.30 0.30 0.29 0.31 0.33 0.32 0.32 0.34 0.37 0.39 0.39 0.39 Total Debt to Total Asset
20.66 28.36 28.37 31.31 24.05 19.51 10.30 9.83 9.28 9.17 8.91 8.81 8.80 8.99 8.82 9.06 9.04 Gross Profit to Total Asset %
0.35 0.41 0.45 0.48 0.48 0.40 0.36 0.34 0.30 0.30 0.29 0.27 0.26 0.25 0.24 0.23 0.23 Asset Turnover
0.53 2.19 0.40 0.34 0.55 1.50 0.60 0.58 0.61 0.57 0.59 0.65 0.71 0.63 0.61 0.61 0.61 Dividend Payout Ratio
24.39 26.97 24.91 20.74 23.19 53.45 13.48 9.98 11.19 9.11 9.61 10.52 12.28 9.85 8.31 8.44 8.44 Days Sales Outstanding
84.27 128 85.37 105 84.76 69.39 52.93 42.70 57.76 58.63 67.39 67.63 74.48 81.27 88.97 70.32 70.32 Days Accounts Payable
50.13 60.79 52.83 58.65 44.94 50.28 37.11 35.97 35.92 33.39 34.30 37.59 37.28 37.86 35.55 36.56 34.54 Days Inventory
-9.75 -40.73 -7.63 -25.83 -16.63 34.34 -2.34 3.25 -10.65 -16.13 -23.48 -19.52 -24.92 -33.56 -45.11 -25.32 -27.34 Cash Conversion Cycle
7.28 6.00 6.91 6.22 8.12 7.26 9.84 10.15 10.16 10.93 10.64 9.71 9.79 9.64 10.27 9.98 10.57 Inventory Turnover
0.41 0.31 0.37 0.35 0.50 0.51 0.71 0.71 0.69 0.69 0.69 0.67 0.66 0.63 0.63 0.60 0.60 COGS to Revenue
0.06 0.05 0.05 0.06 0.06 0.07 0.07 0.07 0.07 0.06 0.07 0.07 0.07 0.07 0.06 0.06 0.06 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LNT 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,805 3,280 3,359 3,438 3,682 3,427 3,262 3,221 3,095 3,277 3,350 3,254 3,320 3,382 3,535 3,648 3,648 Revenue
1,144 1,009 1,257 1,203 1,831 1,746 2,319 2,289 2,144 2,272 2,318 2,172 2,182 2,144 2,229 2,192 2,192 Cost of Goods Sold
1,661 2,270 2,102 2,235 1,851 1,682 943 933 950 1,004 1,033 1,082 1,138 1,239 1,306 1,456 1,456 Gross Profit
59.20 69.22 62.57 65.01 50.28 49.06 28.91 28.95 30.71 30.65 30.83 33.26 34.27 36.62 36.94 39.91 39.91 Gross Margin %
1,252 2,129 1,699 1,472 1,363 1,285 383 419 431 471 489 505 514 567 611 678 678 Other Operating Expense
408 142 403 763 489 396 560 513 520 534 544 577 624 671 694 778 778 Operating Income
14.56 4.32 11.99 22.20 13.27 11.56 17.17 15.93 16.79 16.29 16.23 17.73 18.79 19.85 19.65 21.32 21.32 Operating Margin %
-- -- -- -- 18.20 4.90 4.60 4.30 4.00 0.40 1.80 0.70 0.50 0.50 -- -- -- Interest Income
-- -- -- -- -126 -155 -163 -158 -157 -173 -181 -187 -196 -216 -247 -273 -273 Interest Expense
-- -- -- -- -108 -150 -158 -154 -153 -172 -179 -186 -196 -216 -247 -273 -273 Net Interest Income
-98.70 -138 139 -82.60 57.90 -127 56.10 51.30 63.20 74.50 75.20 70.70 15.70 77.20 123 131 131 Other Income (Expense)
310 3.50 541 681 439 120 458 411 430 436 440 461 443 533 570 636 636 Pre-Tax Income
-91.20 52.90 -203 -256 -140 9.30 -148 -69.20 -89.40 -53.90 -44.30 -70.40 -59.40 -66.70 -47.70 -68.70 -68.70 Tax Provision
29.46 -1,511 37.50 37.59 31.94 -7.78 32.26 16.85 20.78 12.36 10.07 15.26 13.40 12.52 8.37 10.80 10.80 Tax Rate %
218 56.40 338 425 299 129 310 341 341 382 396 391 384 466 522 567 567 Net Income (Continuing Operations)
-72.90 -64.10 -22.60 0.60 8.00 0.90 -3.90 -19.50 -5.10 -5.90 -2.40 -2.50 -2.30 1.40 -- -- -- Net Income (Discontinued
Operations)
146 -7.70 316 425 307 130 306 322 336 376 393 388 382 468 522 567 567 Net Income
5.19 -0.23 9.40 12.37 8.33 3.78 9.39 9.99 10.85 11.48 11.74 11.94 11.50 13.82 14.78 15.56 15.56 Net Margin %
-- 18.70 18.70 18.70 18.70 18.70 18.70 18.30 15.90 17.90 10.20 10.20 10.20 10.20 10.20 10.20 10.20 Preferred dividends
0.64 -0.04 1.35 1.90 1.31 0.51 1.30 1.37 1.45 1.62 1.73 1.68 1.64 1.99 2.19 2.34 2.34 EPS (Basic)
0.64 -0.04 1.35 1.89 1.31 0.51 1.30 1.37 1.45 1.62 1.73 1.68 1.64 1.99 2.19 2.33 2.33 EPS (Diluted)
227 234 234 225 221 221 221 221 222 222 222 225 227 230 234 239 241 Shares Outstanding (Diluted
Average)
382 380 305 310 286 276 344 380 388 411 442 414 407 462 507 567 567 Depreciation, Depletion and
Amortization
791 522 708 1,073 851 550 965 949 975 1,020 1,063 1,062 1,051 1,210 1,324 1,476 1,476 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LNT 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
202 205 265 746 347 175 159 11.40 21.20 9.80 56.90 5.80 8.20 27.90 20.90 16.30 16.30 Cash And Cash Equivalents
-- -- -- -- 18.10 23.70 -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
202 205 265 746 365 199 159 11.40 21.20 9.80 56.90 5.80 8.20 27.90 20.90 16.30 16.30 Cash, Cash Equivalents, Marketable
Securities
187 242 229 195 234 502 121 88.10 94.90 81.80 88.20 93.80 112 91.30 80.50 84.30 84.30 Accounts Receivable
150 186 178 208 243 239 233 218 204 212 224 224 222 222 212 227 227 Inventories, Other
150 186 178 208 243 239 233 218 204 212 224 224 222 222 212 227 227 Total Inventories
1,465 1,006 837 172 212 281 285 324 384 316 335 200 153 172 202 230 230 Other Current Assets
2,143 1,783 1,630 1,472 1,446 1,390 1,093 871 994 1,011 1,043 827 877 905 785 876 876 Total Current Assets
-- -- -- -- 256 282 289 301 319 330 345 346 338 396 431 468 468 Investments And Advances
156 134 138 195 506 404 436 25.00 231 678 479 898 1,227 962 1,775 1,835 1,835 Construction In Progress
7,341 7,213 7,232 7,372 8,329 9,287 9,909 10,448 11,582 12,307 13,140 13,771 14,733 15,776 16,999 18,359 18,359 Gross Property, Plant and Equipment
-2,675 -2,742 -2,744 -2,693 -2,975 -3,094 -3,178 -3,415 -3,744 -3,980 -4,202 -4,252 -4,454 -4,542 -4,537 -4,832 -4,832 Accumulated Depreciation
4,665 4,472 4,489 4,680 5,354 6,193 6,731 7,033 7,838 8,327 8,938 9,519 10,279 11,235 12,462 13,527 13,527 Property, Plant and Equipment
1,467 1,478 965 1,038 1,146 1,172 1,170 1,483 1,634 1,445 1,737 1,803 1,880 1,652 1,747 1,830 1,830 Other Long Term Assets
8,275 7,733 7,084 7,190 8,202 9,036 9,283 9,688 10,786 11,112 12,064 12,495 13,374 14,188 15,426 16,701 16,701 Total Assets
264 355 294 347 425 332 336 268 339 365 428 402 445 477 543 422 422 Accounts Payable
-- -- -- -- -- 77.70 45.30 -- -- -- -- -- -- -- -- -- -- Total Tax Payable
1,128 1,127 774 686 478 461 428 314 387 365 428 402 445 477 543 422 422 Accounts Payable & Accrued
Expense
219 454 373 251 223 292 48.70 104 219 638 324 473 249 1,271 698 995 995 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- 46.90 48.00 -- -- 53.20 -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- -- -- -- 46.90 48.00 -- -- 53.20 -- -- -- -- -- DeferredTaxAndRevenue
-- -- -- -- 338 324 390 390 366 430 463 431 468 401 403 637 637 Other Current Liabilities
1,347 1,580 1,147 937 1,038 1,077 867 855 1,020 1,433 1,215 1,359 1,162 2,149 1,644 2,054 2,054 Total Current Liabilities
2,289 1,915 1,323 1,405 1,748 2,405 2,703 2,703 3,137 2,978 3,584 3,522 4,316 4,011 5,246 5,533 5,533 Long-Term Debt
2,289 1,915 1,323 1,405 1,748 2,405 2,703 2,703 3,137 2,978 3,584 3,522 4,316 4,011 5,246 5,533 5,533 Long-Term Debt & Capital Lease
Obligation
0.98 0.97 0.64 0.62 0.66 0.91 0.88 0.93 1.07 1.10 1.14 1.07 1.18 1.26 1.30 1.25 1.25 Debt to Equity
-- -- -- -- 514 324 304 313 364 207 422 452 490 504 509 484 484 PensionAndRetirementBenefit
44.00 529 758 823 971 1,184 1,434 1,592 1,934 2,113 2,321 2,381 2,570 1,478 1,603 1,714 1,714 NonCurrent Deferred Liabilities
4.80 4.50 4.90 3.90 2.10 2.10 2.00 147 147 202 202 200 200 200 200 200 200 Minority Interest
2,029 1,264 1,199 1,340 921 1,088 835 1,065 1,049 899 881 857 774 1,664 1,638 1,511 1,511 Other Long-Term Liabilities
5,709 5,288 4,428 4,505 5,192 6,078 6,144 6,528 7,504 7,629 8,423 8,571 9,312 9,806 10,640 11,296 11,296 Total Liabilities
1.20 1.20 1.20 1.10 1.10 1.10 1.10 1.10 1.10 1.10 1.10 2.30 2.30 2.30 2.40 2.50 2.50 Common Stock
-- -- -- -- -- -- 184 -- -- -- -- -- -- -- -- -- -- Preferred Stock
872 742 924 1,205 1,336 1,282 1,395 1,510 1,631 1,781 1,938 2,069 2,177 2,346 2,546 2,765 2,765 Retained Earnings
-73.80 -91.70 -16.50 -8.50 -1.40 -1.40 -1.40 -0.80 -0.80 -0.20 -0.60 -0.40 -0.40 -0.50 1.70 1.30 1.30 Accumulated other comprehensive
income (loss)
1,762 1,789 1,743 1,483 1,495 1,499 1,507 1,511 1,511 1,508 1,509 1,662 1,693 1,846 2,046 2,446 2,446 Additional Paid-In Capital
-- -- -- -- -- -- -7.60 -8.30 -7.30 -8.00 -8.90 -8.50 -10.00 -11.10 -9.80 -10.00 -10.00 Treasury Stock
2,561 2,441 2,651 2,681 3,007 2,956 3,137 3,013 3,135 3,281 3,439 3,724 3,862 4,182 4,586 5,205 5,205 Total Equity
0.31 0.32 0.37 0.37 0.37 0.33 0.34 0.31 0.29 0.30 0.29 0.30 0.29 0.30 0.30 0.31 0.31 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LNT 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
146 -7.70 316 425 307 130 306 322 336 376 393 388 382 468 522 567 567 Net Income
146 -7.70 316 425 307 130 306 322 336 376 393 388 382 468 522 567 567 Net Income From Continuing
Operations
382 380 305 310 286 276 344 380 388 411 442 414 407 462 507 567 567 Depreciation, Depletion and
Amortization
-113 -44.00 38.00 8.20 -270 -53.80 212 20.70 51.30 -150 41.70 19.80 -572 -441 -475 -472 -472 Change In Receivables
-15.60 -27.20 28.20 -25.60 -24.00 -28.50 13.60 22.50 -- -- -- -- -- -- -- -- 33.10 Change In Inventory
-- -- -- -- 48.70 22.70 -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
34.50 94.50 -65.70 31.50 -17.80 86.50 -66.60 -3.10 -2.90 -- -- -- -- -- -- -- -27.90 Change In Payables And Accrued
Expense
-157 -35.80 -322 2.60 -322 -67.40 102 -15.20 -5.30 -132 25.90 -33.20 -514 -535 -525 -484 -484 Change In Working Capital
-4.50 -151 256 91.20 73.50 94.30 217 10.20 143 108 55.20 114 84.60 140 67.00 55.60 55.60 Change In DeferredTax
131 414 -156 -240 -6.50 225 16.20 5.70 -20.50 -32.30 -25.10 -11.90 -52.80 -11.90 -43.70 -45.60 -45.60 Cash Flow from Others
541 565 403 589 338 657 985 703 841 731 892 871 393 522 528 660 660 Cash Flow from Operations
-633 -528 -397 -542 -879 -1,150 -- -608 -- -- -- -- -- -- -- -- -- Purchase Of Property, Plant,
Equipment
42.30 124 797 901 12.90 37.70 -- -- -- -- -- 140 -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -879 -53.00 -867 -673 -1,158 -798 -903 -1,034 -1,197 -1,467 -1,634 -1,640 -1,640 Purchase Of Business
-- -- -3.50 -- -- -31.00 -- -5.10 -- -- -- -- -- -- -- -- -- Purchase Of Investment
-- -- 51.70 -- -- 63.60 -- 31.00 -- -- -- -- -- -- -- -- -- Sale Of Investment
-51.00 88.00 18.00 -29.80 879 -16.60 0.40 604 2.60 43.60 -14.90 -24.80 477 434 567 353 353 Cash From Other Investing Activities
-642 -316 466 329 -866 -1,149 -867 -652 -1,156 -755 -918 -919 -720 -1,033 -1,067 -1,287 -1,287 Cash Flow from Investing
115 29.30 49.60 34.10 1.30 1.00 -- -- -- -- -- 151 26.60 150 197 390 390 Issuance of Stock
-- -- -105 -297 -1.70 -0.90 -- -- -- -- -- -- -- -- -- -- -- Repurchase of Stock
-- -- -- -- -- -- -- -40.00 -- -11.00 -- -- -- -- -- -- -- Net Issuance of Preferred Stock
160 -136 -512 -40.70 321 526 49.60 55.80 548 260 316 86.20 571 717 670 590 590 Net Issuance of Debt
-114 -122 -134 -143 -173 -184 -193 -205 -215 -208 -226 -247 -267 -288 -312 -338 -338 Cash Flow for Dividends
-37.60 -69.30 -118 8.40 -17.90 -21.90 9.30 -9.40 -8.90 -28.80 -17.30 6.80 -1.70 -45.20 -24.00 -23.20 -23.20 Other Financing
123 -298 -819 -438 129 320 -134 -199 324 12.30 73.20 -3.10 329 533 531 619 619 Cash Flow from Financing
22.30 -48.60 50.00 480 -399 -172 -16.00 -148 9.80 -11.40 47.10 -51.10 1.90 20.80 -8.40 -7.80 -7.80 Net Change in Cash
-633 -528 -397 -542 -879 -1,150 -- -608 -- -- -- -- -- -- -- -- -- Capital Expenditure
-92.10 37.80 5.90 46.80 -541 -493 985 94.60 841 731 892 871 393 522 528 660 660 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LNT 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
22.60 -- 14.03 10.74 11.18 29.96 14.15 16.16 15.14 15.98 19.25 18.64 22.96 21.41 19.38 23.48 23.76 PE Ratio(TTM)
-- -- 76.17 14.01 -- 33.11 8.74 38.84 22.41 47.96 27.04 25.72 31.24 170 -- -- 44.07 Price to Owner Earnings
(TTM)
1.29 1.34 1.66 1.68 1.07 1.13 1.38 1.63 1.55 1.74 2.14 1.90 2.23 2.36 2.17 2.51 2.57 Price to Book
1.29 1.34 1.66 1.68 1.07 1.13 1.38 1.63 1.55 1.74 2.14 1.90 2.23 2.36 2.17 2.51 2.57 Price to Tangible Book
-- 7.28 13.67 102 9.52 5.08 10.23 51.66 5.79 7.82 8.26 8.06 21.86 18.80 18.69 19.82 20.05 Price-to-Free-Cash-Flow
Ratio
6.05 5.78 10.99 7.78 9.52 5.08 4.13 6.95 5.79 7.82 8.26 8.06 21.86 18.80 18.69 19.82 20.05 Price-to-Operating-Cash-
Flow Ratio
1.15 1.00 1.32 1.33 0.87 0.97 1.25 1.52 1.57 1.74 2.20 2.16 2.59 2.89 2.79 3.58 3.63 PS Ratio
-- -- -- -- 1.75 6.61 3.22 56.15 24.90 1.68 2.05 7.25 12.54 12.44 5.65 4.21 4.18 PEG Ratio
1.98 1.66 1.73 1.57 1.31 1.71 2.10 2.43 2.70 2.91 3.41 3.47 4.03 4.53 4.55 5.46 5.56 EV-to-Revenue
6.86 10.44 7.29 4.93 5.68 10.25 7.11 8.26 8.57 9.35 10.75 10.62 12.73 12.65 12.16 13.49 13.73 EV-to-EBITDA
13.50 38.49 11.81 7.08 8.55 21.31 11.05 13.78 14.24 15.66 18.40 17.39 20.92 20.46 19.70 21.91 22.32 EV-to-EBIT
7.41 2.60 8.47 14.12 11.70 4.69 9.05 7.26 7.02 6.39 5.43 5.75 4.78 4.89 5.08 4.56 4.47 Return on Capital %
-20.74 -14.73 -8.97 -1.63 12.96 14.75 12.74 6.47 9.89 18.17 17.15 12.75 10.15 9.01 9.99 10.27 10.21 Forward Rate of Return
12.00 12.74 16.62 16.36 11.38 12.58 17.64 20.75 19.07 21.06 25.21 20.80 24.68 27.39 25.57 29.45 29.80 Shiller PE Ratio
3.54 3.74 3.05 3.13 4.80 4.97 4.31 3.86 4.10 3.64 3.07 3.52 3.10 2.96 3.17 2.60 2.61 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,310 3,282 4,391 4,492 3,223 3,348 4,079 4,898 4,875 5,725 7,368 7,087 8,627 9,858 9,974 13,078 13,562 Market Cap
5,621 5,449 5,828 5,406 4,831 5,848 6,857 7,841 8,356 9,532 11,422 11,276 13,383 15,311 16,097 19,789 20,274 Enterprise Value
14.30 14.02 18.89 20.35 14.59 15.13 18.39 22.06 21.96 25.80 33.21 31.23 37.89 42.61 42.25 54.72 55.35 Month End Stock Price
-23.81 -21.73 -17.93 -17.05 -21.86 -26.57 -26.99 -30.01 -34.37 -35.25 -38.62 -38.63 -41.74 -43.13 -45.83 -48.03 -47.55 Net Cash (per share)
-15.43 -14.99 -12.06 -13.76 -16.97 -21.19 -23.61 -26.14 -29.99 -30.74 -34.17 -35.01 -37.93 -39.34 -42.60 -44.44 -43.99 Net Current Asset Value
(per share)
-22.88 -20.56 -16.80 -15.91 -20.52 -24.33 -26.89 -29.22 -33.59 -34.49 -37.81 -37.83 -40.89 -42.35 -45.13 -47.29 -46.82 Net-Net Working Capital (per
share)
-1.73 1.27 8.56 11.53 16.04 23.27 27.55 24.15 28.28 33.75 38.57 39.94 40.26 43.63 42.06 42.66 42.66 Projected FCF (per share)
11.85 13.34 13.61 15.64 17.57 16.10 15.41 15.75 16.11 17.63 19.57 19.89 22.50 24.62 27.99 30.48 30.48 Median PS (per share)
-- -- -- -- 8.35 2.64 -- -- -- 15.33 16.19 -- -- -- -- 13.00 13.00 Peter Lynch Fair Value (per
share)
15.46 7.50 19.26 22.70 19.72 12.26 19.89 21.11 21.58 23.40 24.63 24.98 25.09 28.45 30.94 33.79 33.62 Graham Number (per share)
-26.52 -21.94 -15.42 -12.13 -10.31 -9.85 -15.69 -18.99 -26.23 -26.52 -26.13 -23.72 -22.52 -43.26 -- -- -19.40 Earnings Power Value
(EPV)
1.08 0.97 1.59 1.71 1.34 1.05 1.21 1.20 1.07 1.10 1.18 1.11 1.16 1.14 1.13 1.25 1.27 Altman Z-Score
4.00 7.00 9.00 8.00 4.00 3.00 4.00 6.00 5.00 6.00 6.00 5.00 5.00 6.00 6.00 5.00 5.00 Piotroski F-Score
0.63 0.56 0.53 0.51 0.64 0.67 0.63 0.64 0.68 0.66 0.67 0.66 0.69 0.72 0.76 0.77 0.72 Scaled Net Operating
Assets
2.98 -3.32 -7.81 -6.85 10.18 6.88 2.02 2.80 6.03 3.60 3.48 3.49 5.30 6.90 6.88 7.15 7.15 Sloan Ratio (%)
1.59 1.13 1.42 1.57 1.39 1.29 1.26 1.02 0.97 0.71 0.86 0.61 0.75 0.42 0.48 0.43 0.43 Current Ratio
1.48 1.01 1.27 1.35 1.16 1.07 0.99 0.76 0.77 0.56 0.67 0.44 0.56 0.32 0.35 0.32 0.32 Quick Ratio
14.40 15.20 19.85 22.87 21.06 15.60 18.82 22.16 23.75 26.97 34.66 35.16 40.87 45.18 46.28 54.95 60.28 Highest Stock Price
11.88 12.94 14.02 17.91 12.15 10.23 15.13 17.15 21.05 21.96 25.25 27.28 30.79 36.86 37.14 41.15 45.18 Lowest Stock Price
-4.31 -1.12 0.69 5.05 -0.08 -0.19 -0.21 -0.11 0.03 0.04 0.01 -2.27 -0.33 -1.61 -2.04 -1.24 -2.26 Shares Buyback Ratio (%)
-8.23 13.80 2.09 6.57 9.25 -6.95 -4.96 -1.41 -4.03 5.89 2.20 -4.48 1.27 0.72 2.76 0.87 0.88 YoY Rev. per Sh. Growth
(%)
-29.28 -105 3,943 40.52 -30.95 -61.30 157 5.38 5.47 11.76 7.12 -2.89 -2.38 21.34 10.05 6.39 6.88 YoY EPS Growth (%)
-8.33 -35.74 35.17 57.83 -19.09 -35.41 75.16 -1.81 2.64 4.61 4.17 -1.71 -1.76 13.83 7.55 9.00 8.97 YoY EBITDA Growth (%)
-7.23 -9.16 -8.58 -2.63 6.58 4.58 4.32 0.27 0.60 9.35 9.33 2.55 1.83 1.73 3.43 5.58 5.70 EBITDA 5-Y Growth (%)
227 233 234 225 220 221 221 221 222 222 222 225 227 230 234 239 241 Shares Outstanding (Basic
Average)
231 234 232 221 221 221 222 222 222 222 222 227 228 231 236 239 240 Shares Outstanding (EOP)
0.82 1.19 0.69 0.26 0.52 0.55 0.59 0.53 0.41 0.45 0.57 0.54 0.36 0.24 0.22 0.24 0.25 Beta
03/04/05 03/03/06 03/01/07 02/28/08 02/27/09 02/26/10 02/28/11 02/27/12 02/26/13 02/25/14 02/25/15 02/24/16 02/24/17 02/23/18 02/22/19 02/21/20 Filing Date
03/03/06 03/01/07 02/28/08 02/27/09 02/26/10 02/27/12 02/26/13 02/25/14 02/25/15 02/24/16 02/24/17 02/23/18 02/22/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LNT 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/LNT 7/7
ConocoPhillips (NYSE:COP) 03/03/2020 2:00PM EST GuruFocus
Price: $ 47.84 -1.40(-2.83%) Market Cap: $ 51.72 B Enterprise Value: $56.46 B Stock PDF
Financial Strength : 6/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 7.48
Cash to Debt 0.69 Operating margin (%) 22.35
Forward P/E N/A
Equity to Asset 0.50 Net-margin (%) 22.07
PE(NRI) 7.48
Interest Coverage 9.35 ROE (%) 21.41
F-Score:
P/B 1.49
ROA (%) 10.17
7 P/S 1.65
Z-Score: ROC (Joel Greenblatt) (%) 23.20
2.80 PFCF 12.03
Revenue Growth (3Y)(%) 15.10
M-Score: POCF 4.85
-3.14 EBITDA Growth (3Y)(%) 56.10
EV-to-EBIT 5.49
WACC vs 5.57%
ROIC 13.98% PEG 0.44
WACC
ROIC Shiller P/E 10.64
Current Ratio 2.40
Quick Ratio 2.26
Days Inventory 15.98
Days Sales Outstanding 38.12
Warning Signs Quarterly Revenues Company Description
Valuation: Forward PE Ratio Mar Jun Sep Dec Full Year ConocoPhillips is a U.S.-based independent exploration and production firm. In 2018, it produced 818,000 barrels per
day of oil and natural gas liquids and 2.8 billion cubic feet per day of natural gas, primarily from Alaska and the Lower
2016 5,121 5,348 6,415 6,809 23,693 48 in the United States, the U.K. and Norway in Europe and several countries in Asia-Pacific and the Middle East.
Insider Sell: Insider Selling
2017 7,518 6,781 6,688 8,119 29,106 Proven reserves at year-end 2018 was 4.9 billion barrels of oil equivalent.... (Read More)
, , , , , , ,
2018 8,798 8,504 9,449 9,666 36,417 Competitors: HKSE:00883 MIC:NVTK NYSE:EOG NYSE:OXY NYSE:APC TSX:CNQ TSE:8031
NYSE:PXD, ASX:WPL, NYSE:HES, BKK:PTTEP, NYSE:CXO, TSE:1605, NAS:FANG, ASX:STO, NYSE:APA,
Good Signs 2019 9,150 7,953 7,756 7,708 32,567 OSL:AKERBP, NYSE:CLR, OSTO:LUPE, NAS:NBL
2020
Piotroski F-Score: High Insider Trades
Quarterly Earnings per Share
Dividend Yield %: Close to 3-
year high Mar Jun Sep Dec Full Year
2016 -1.18 -0.86 -0.84 -0.03 -2.91
PE Ratio: Close to 5-year low 2017 0.47 -2.78 0.34 1.32 -0.65
PB Ratio: Close to 3-year low 2018 0.75 1.39 1.59 1.61 5.34
2019 1.60 1.40 2.74 0.65 6.39
PS Ratio: Close to 3-year low 2020
Quarterly Dividends Per Share
DCF
Mar Jun Sep Dec Full Year
GuruFocus does not 2016 0.25 0.25 0.25 0.25 1.00
calculate intrinsic value: DCF 2017 0.27 0.27 0.27 0.27 1.06
(Earnings Based) for 2018 0.29 0.29 0.29 0.31 1.16
companies with one star 2019 0.31 0.31 0.31 0.42 1.34
predictability or not rated. But 2020
you can go to each stock's
DCF page to calculate Growth Rate
yourself. Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) -9.80 -2.40 -6.40
Reverse DCF EBITDA Growth (%) -8.50 17.40 2.90
GuruFocus does not Free Cash Flow Growth (%) 0.00 0.00 -24.40
calculate reverse DCF growth
Book Value Growth (%) -5.40 -5.40 14.90
rate for companies with one
star predictability or not rated. EPS Growth (%) 0.00 0.00 20.30
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/COP 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
84.72 129 117 118 158 99.72 37.70 46.28 46.26 43.89 42.16 23.81 19.02 23.84 30.98 28.99 28.98 Revenue per Share
12.28 20.19 23.43 23.14 4.65 13.47 18.14 16.71 18.13 18.14 14.74 2.25 3.84 4.36 14.18 14.59 14.58 EBITDA per Share
9.57 17.19 18.91 18.09 -1.26 7.26 12.77 11.79 12.87 12.15 8.06 -5.09 -3.44 -1.24 9.11 9.17 9.16 EBIT per Share
5.80 9.55 9.66 7.22 -10.73 2.94 7.62 8.97 6.72 7.38 5.51 -3.58 -2.91 -0.70 5.32 6.40 6.39 Earnings per Share (diluted)
5.79 9.63 9.66 7.22 -10.73 2.94 6.88 5.14 5.91 6.43 4.60 -3.58 -2.91 -0.70 5.32 6.40 6.39 eps without NRI
5.68 9.92 8.20 8.20 -13.26 0.71 6.59 6.73 3.80 6.52 3.15 -8.27 -6.30 -5.81 5.24 6.10 6.10 Owner Earnings per Share (TTM)
1.76 4.24 3.68 7.75 2.34 1.08 6.38 6.08 -0.20 0.49 -0.41 -2.00 -0.37 2.04 5.26 3.98 3.98 Free Cashflow per Share
0.90 1.18 1.44 1.64 1.88 1.91 2.15 2.64 2.64 2.70 2.84 2.94 1.00 1.06 1.16 1.34 1.34 Dividends per Share
30.75 38.27 50.27 56.99 37.27 40.67 46.72 50.74 39.33 42.49 42.16 32.17 28.27 26.00 28.06 32.24 32.24 Book Value per Share
19.17 26.34 30.54 37.62 34.14 37.75 43.69 47.57 39.33 42.49 42.16 32.17 28.27 26.00 28.06 32.24 32.24 Tangible Book per Share
10.80 9.08 16.50 13.89 18.55 18.79 16.08 17.60 17.81 17.67 18.33 20.13 22.05 16.74 13.15 13.73 13.73 Total Debt per Share
33.10 44.35 54.85 67.31 39.49 38.93 51.91 55.55 57.99 70.65 69.06 46.69 50.14 54.89 62.35 65.03 47.84 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
21.09 28.35 22.97 13.86 -22.68 7.53 17.40 18.59 14.89 18.30 13.21 -9.66 -9.67 -2.61 20.01 21.49 21.41 Return on Equity %
9.27 13.54 11.44 6.94 -10.20 2.99 7.36 8.04 6.23 7.79 5.86 -4.14 -3.86 -1.05 8.73 10.23 10.17 Return on Assets %
27.27 46.15 42.64 33.64 -2.23 12.67 22.37 19.61 20.77 20.92 13.54 -8.91 -6.87 -2.92 23.44 23.42 23.20 Return on Capital %
13.76 23.19 19.15 13.80 157 4.56 8.08 8.53 8.57 9.91 7.31 -4.96 -4.62 1.53 14.73 14.02 13.98 Return on Invested Capital %
5.91 5.32 6.69 7.02 7.14 7.81 8.04 6.98 7.03 6.95 5.79 6.65 8.95 8.86 7.97 6.31 5.57 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 3.81 4.59 4.47 4.13 3.20 2.82 2.93 3.88 4.77 4.67 4.24 5.21 5.21 Effective Interest Rate on Debt %
17.24 27.20 31.41 31.05 21.32 18.26 30.47 32.94 33.40 31.42 25.11 3.41 -4.25 15.89 30.08 28.60 28.60 Gross Margin %
11.29 13.29 16.14 15.31 11.08 5.65 21.43 23.24 22.64 21.97 15.46 -18.40 -18.39 8.62 25.53 22.35 22.35 Operating Margin %
6.85 7.38 8.25 6.11 -6.79 2.96 20.20 19.37 14.54 16.83 13.08 -14.98 -15.26 -2.94 17.18 22.07 22.07 Net Margin %
2.07 3.28 3.14 6.56 1.48 1.08 16.92 13.13 -0.43 1.11 -0.98 -8.38 -1.97 8.54 16.98 13.72 13.72 FCF Margin %
0.35 0.24 0.33 0.24 0.50 0.46 0.34 0.35 0.45 0.42 0.44 0.63 0.78 0.64 0.47 0.43 0.43 Debt to Equity
0.46 0.49 0.50 0.50 0.39 0.41 0.44 0.43 0.41 0.44 0.45 0.41 0.39 0.42 0.46 0.50 0.50 Total Equity to Total Asset
0.16 0.12 0.17 0.12 0.19 0.19 0.15 0.15 0.19 0.18 0.19 0.26 0.30 0.27 0.21 0.21 0.21 Total Debt to Total Asset
23.34 49.91 43.57 35.26 32.03 18.49 11.11 13.66 14.32 14.54 11.24 0.94 -1.07 5.67 15.28 13.26 13.17 Gross Profit to Total Asset %
1.35 1.84 1.39 1.14 1.50 1.01 0.36 0.42 0.43 0.46 0.45 0.28 0.25 0.36 0.51 0.46 0.46 Asset Turnover
0.16 0.12 0.15 0.23 -- 0.65 0.31 0.51 0.45 0.42 0.62 -- -- -- 0.22 0.21 0.21 Dividend Payout Ratio
27.02 23.77 27.31 30.69 18.18 32.30 89.52 93.96 57.82 56.93 47.30 55.73 52.59 54.17 40.76 38.12 38.12 Days Sales Outstanding
33.92 33.54 41.31 48.61 26.95 46.30 172 167 94.67 91.11 74.47 63.06 53.98 60.08 55.83 50.23 50.23 Days Accounts Payable
14.16 10.10 12.53 12.76 8.97 15.00 47.33 41.66 26.45 10.56 11.71 15.69 15.83 15.49 14.81 15.96 15.98 Days Inventory
7.26 0.33 -1.47 -5.16 0.20 1.00 -34.97 -31.01 -10.40 -23.62 -15.46 8.36 14.44 9.58 -0.26 3.85 3.87 Cash Conversion Cycle
25.78 36.13 29.13 28.61 40.67 24.33 7.71 8.76 13.80 34.57 31.16 23.26 23.06 23.56 24.64 22.88 22.84 Inventory Turnover
0.83 0.73 0.69 0.69 0.79 0.82 0.70 0.67 0.67 0.69 0.75 0.97 1.04 0.84 0.70 0.71 0.71 COGS to Revenue
0.03 0.02 0.02 0.02 0.02 0.03 0.09 0.08 0.05 0.02 0.02 0.04 0.05 0.04 0.03 0.03 0.03 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/COP 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
118,719 183,364 188,523 194,495 240,842 149,341 56,215 64,196 57,967 54,413 52,524 29,564 23,693 29,106 36,417 32,567 32,567 Revenue
98,257 133,487 129,312 134,112 189,493 122,067 39,085 43,050 38,605 37,315 39,337 28,555 24,699 24,482 25,463 23,254 23,254 Cost of Goods Sold
20,462 49,877 59,211 60,383 51,349 27,274 17,130 21,146 19,362 17,098 13,187 1,009 -1,006 4,624 10,954 9,313 9,313 Gross Profit
17.24 27.20 31.41 31.05 21.32 18.26 30.47 32.94 33.40 31.42 25.11 3.41 -4.25 15.89 30.08 28.60 28.60 Gross Margin %
2,128 2,908 3,310 3,313 2,229 1,830 809 865 1,106 854 735 953 473 427 401 556 556 Selling, General, & Admin.
Expense
4,928 22,609 25,471 27,288 22,438 17,002 4,276 5,365 5,134 4,289 4,334 5,496 2,878 1,688 1,257 1,479 1,479 Other Operating Expense
13,406 24,360 30,430 29,782 26,682 8,442 12,045 14,916 13,122 11,955 8,118 -5,440 -4,357 2,509 9,296 7,278 7,278 Operating Income
11.29 13.29 16.14 15.31 11.08 5.65 21.43 23.24 22.64 21.97 15.46 -18.40 -18.39 8.62 25.53 22.35 22.35 Operating Margin %
-- -- -- -- 245 227 135 170 163 113 83.00 45.00 57.00 112 97.00 166 -- Interest Income
-- -- -- -- -935 -1,289 -1,167 -954 -709 -612 -648 -920 -1,245 -1,098 -735 -778 -778 Interest Expense
-- -- -- -- -690 -1,062 -1,032 -784 -546 -499 -565 -875 -1,188 -986 -638 -612 -612 Net Interest Income
963 -813 -2,097 -6,510 -28,852 2,202 6,862 1,264 2,847 2,990 1,837 -924 15.00 -4,138 1,315 2,858 2,858 Other Income (Expense)
-32.00 -33.00 -76.00 -87.00 -70.00 -78.00 -59.00 -66.00 -70.00 -59.00 -69.00 -57.00 -56.00 -62.00 -48.00 -68.00 -68.00 Other Income (Minority Interest)
14,369 23,547 28,333 23,272 -2,860 9,582 17,875 15,396 15,423 14,446 9,390 -7,239 -5,530 -2,615 9,973 9,524 9,524 Pre-Tax Income
-6,262 -9,907 -12,783 -11,381 -13,419 -5,090 -7,570 -8,208 -7,942 -6,409 -3,583 2,868 1,971 1,822 -3,668 -2,267 -2,267 Tax Provision
43.58 42.07 45.12 48.90 -469 53.12 42.35 53.31 51.49 44.37 38.16 39.62 35.64 69.67 36.78 23.80 23.80 Tax Rate %
8,107 13,640 15,550 11,891 -16,279 4,492 10,305 7,188 7,481 8,037 5,807 -4,371 -3,559 -793 6,305 7,257 7,257 Net Income (Continuing
Operations)
22.00 -23.00 -- -- -- -- 1,112 5,314 1,017 1,178 1,131 -- -- -- -- -- -- Net Income (Discontinued
Operations)
8,129 13,529 15,550 11,891 -16,349 4,414 11,358 12,436 8,428 9,156 6,869 -4,428 -3,615 -855 6,257 7,189 7,189 Net Income
6.85 7.38 8.25 6.11 -6.79 2.96 20.20 19.37 14.54 16.83 13.08 -14.98 -15.26 -2.94 17.18 22.07 22.07 Net Margin %
5.88 9.71 9.80 7.32 -10.73 2.96 7.68 9.04 6.77 7.43 5.54 -3.58 -2.91 -0.70 5.36 6.43 6.43 EPS (Basic)
5.80 9.55 9.66 7.22 -10.73 2.94 7.62 8.97 6.72 7.38 5.51 -3.58 -2.91 -0.70 5.32 6.40 6.39 EPS (Diluted)
1,401 1,417 1,610 1,646 1,523 1,498 1,491 1,387 1,253 1,240 1,246 1,242 1,245 1,221 1,176 1,124 1,101 Shares Outstanding (Diluted
Average)
3,798 4,253 7,284 8,298 9,012 9,295 8,004 6,827 6,580 7,434 8,329 9,113 9,062 6,845 5,956 6,090 6,090 Depreciation, Depletion and
Amortization
17,204 28,613 37,714 38,080 7,087 20,166 27,046 23,177 22,712 22,492 18,367 2,794 4,777 5,328 16,664 16,392 16,392 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/COP 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1,387 2,214 817 1,456 755 542 9,454 5,780 3,618 6,246 5,062 2,368 3,610 6,325 5,915 5,088 5,088 Cash And Cash Equivalents
-- -- -- -- -- -- 2,056 581 -- 272 -- -- 50.00 3,772 1,710 5,139 5,139 Marketable Securities
1,387 2,214 817 1,456 755 542 11,510 6,361 3,618 6,518 5,062 2,368 3,660 10,097 7,625 10,227 10,227 Cash, Cash Equivalents,
Marketable Securities
8,788 11,940 14,106 16,354 11,995 13,215 13,787 16,526 9,182 8,487 6,807 4,514 3,414 4,320 4,067 3,401 3,401 Accounts Receivable
519 541 802 850 863 985 943 998 721 742 793 718 600 548 575 554 554 Inventories, Raw Materials &
Components
-- -- -- -- -- 3,955 4,254 3,633 244 452 538 406 418 512 432 472 472 Inventories, Finished Goods
3,147 3,183 4,351 3,373 4,232 -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
3,666 3,724 5,153 4,223 5,095 4,940 5,197 4,631 965 1,194 1,331 1,124 1,018 1,060 1,007 1,026 1,026 Total Inventories
1,180 1,734 4,990 2,702 2,998 2,470 2,141 2,700 10,224 2,824 1,868 783 517 1,035 575 2,259 2,259 Other Current Assets
15,021 19,612 25,066 24,735 20,843 21,167 34,660 30,218 23,989 19,023 15,068 8,789 8,609 16,512 13,274 16,913 16,913 Total Current Assets
-- -- -- -- -- 35,742 31,581 32,108 23,489 23,907 24,335 20,490 20,460 9,224 9,091 8,444 8,444 Investments And Advances
69,151 76,332 113,272 125,361 126,444 141,242 143,225 149,209 126,179 138,148 146,230 136,859 131,406 110,431 110,597 97,746 97,746 Gross Property, Plant and
Equipment
-18,249 -21,663 -27,071 -36,358 -42,497 -53,534 -60,671 -65,029 -58,916 -65,321 -70,786 -70,413 -73,075 -64,748 -64,899 -55,477 -55,477 Accumulated Depreciation
50,902 54,669 86,201 89,003 83,947 87,708 82,554 84,180 67,263 72,827 75,444 66,446 58,331 45,683 45,698 42,269 42,269 Property, Plant and Equipment
16,086 16,439 32,439 30,232 4,624 4,461 4,434 4,077 -- -- -- -- -- -- -- -- -- Intangible Assets
-- -- 31,488 29,336 3,778 3,638 3,633 3,332 -- -- -- -- -- -- -- -- -- Goodwill
10,852 16,279 21,075 33,787 33,451 3,060 3,085 2,647 2,403 2,300 1,692 1,759 2,372 1,943 1,917 2,888 2,888 Other Long Term Assets
92,861 106,999 164,781 177,757 142,865 152,138 156,314 153,230 117,144 118,057 116,539 97,484 89,772 73,362 69,980 70,514 70,514 Total Assets
9,131 12,267 14,634 17,861 13,990 15,485 18,399 19,653 10,013 9,314 8,026 4,933 3,653 4,030 3,895 3,200 3,200 Accounts Payable
-- -- -- -- -- 3,402 4,874 4,220 3,366 2,713 1,051 499 484 1,038 1,320 1,030 1,030 Total Tax Payable
13,636 18,389 21,493 24,564 20,471 21,121 25,402 25,944 15,746 13,698 10,477 6,942 5,131 6,097 6,474 6,275 6,275 Accounts Payable & Accrued
Expense
632 1,758 4,043 1,398 370 1,728 936 1,013 955 589 182 1,427 1,089 2,575 112 105 105 Current Portion of Long-Term
Debt
1,318 1,212 895 920 939 846 1,081 1,111 742 842 878 887 689 725 809 663 663 Other Current Liabilities
15,586 21,359 26,431 26,882 21,780 23,695 27,419 28,068 17,443 15,129 11,537 9,256 6,909 9,397 7,395 7,043 7,043 Total Current Liabilities
14,370 10,758 23,091 20,289 27,085 26,925 22,656 21,610 20,770 21,073 22,383 23,453 26,186 17,128 14,856 14,790 14,790 Long-Term Debt
14,370 10,758 23,091 20,289 27,085 26,925 22,656 21,610 20,770 21,073 22,383 23,453 26,186 17,128 14,856 14,790 14,790 Long-Term Debt & Capital Lease
Obligation
0.35 0.24 0.33 0.24 0.50 0.46 0.34 0.35 0.45 0.42 0.44 0.63 0.78 0.64 0.47 0.43 0.43 Debt to Equity
-- -- -- -- -- 4,130 3,683 4,068 3,346 2,459 2,964 2,286 2,552 1,854 1,764 1,781 1,781 PensionAndRetirementBenefit
10,385 11,439 20,074 21,018 18,167 21,053 17,335 20,824 15,401 17,021 16,735 12,827 10,474 6,551 6,213 6,498 6,498 NonCurrent Deferred Liabilities
1,105 1,209 1,202 1,173 1,100 590 547 510 440 402 362 320 252 194 125 69.00 69.00 Minority Interest
8,692 9,503 11,337 19,412 19,568 13,722 16,112 12,911 11,757 9,883 10,647 9,580 8,425 7,631 7,688 5,352 5,352 Other Long-Term Liabilities
49,033 53,059 80,933 87,601 86,600 89,525 87,205 87,481 68,717 65,565 64,266 57,402 54,546 42,561 37,916 35,464 35,464 Total Liabilities
14.00 14.00 17.00 17.00 17.00 17.00 17.00 17.00 18.00 18.00 18.00 18.00 18.00 18.00 18.00 18.00 18.00 Common Stock
16,128 28,018 41,292 50,510 30,642 32,214 40,397 49,049 35,338 41,160 44,504 36,414 31,548 29,391 34,010 39,742 39,742 Retained Earnings
1,350 -131 1,141 4,432 -2,679 3,065 4,726 3,246 4,087 2,002 -1,902 -6,247 -6,193 -5,518 -6,063 -5,357 -5,357 Accumulated other
comprehensive income (loss)
26,047 26,754 41,926 42,724 43,396 43,681 44,132 44,725 45,324 45,690 46,071 46,357 46,507 46,622 46,879 46,983 46,983 Additional Paid-In Capital
-816 -1,924 -1,730 -8,700 -16,211 -16,211 -20,077 -31,787 -36,780 -36,780 -36,780 -36,780 -36,906 -39,906 -42,905 -46,405 -46,405 Treasury Stock
42,723 52,731 82,646 88,983 55,165 62,023 68,562 65,239 47,987 52,090 51,911 39,762 34,974 30,607 31,939 34,981 34,981 Total Equity
0.46 0.49 0.50 0.50 0.39 0.41 0.44 0.43 0.41 0.44 0.45 0.41 0.39 0.42 0.46 0.50 0.50 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/COP 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
8,107 13,640 15,550 11,891 -16,279 4,492 10,305 7,188 7,481 8,037 5,807 -4,371 -3,559 -793 6,305 7,257 7,257 Net Income
8,107 13,640 15,550 11,891 -16,279 4,492 10,305 7,188 7,481 8,037 5,807 -4,371 -3,559 -793 6,305 7,257 7,257 Net Income From Continuing
Operations
3,798 4,253 7,284 8,298 9,012 9,295 8,004 6,827 6,580 7,434 8,329 9,113 9,062 6,845 5,956 6,090 6,090 Depreciation, Depletion and
Amortization
-3,405 -3,145 -906 -2,492 4,225 -1,106 324 -938 -1,866 744 1,227 1,810 820 -886 235 505 505 Change In Receivables
360 -182 -828 767 -1,321 320 -43.00 -81.00 210 -278 -193 166 44.00 -55.00 86.00 -67.00 -67.00 Change In Inventory
15.00 -407 -372 487 -724 282 150 -300 513 -83.00 -190 239 105 69.00 -55.00 37.00 37.00 Change In Prepaid Assets
2,103 3,156 657 2,772 -3,199 -34.00 1,571 609 -96.00 -280 -1,529 -2,237 -1,450 887 369 -1,049 -1,049 Change In Payables And Accrued
Expense
-601 246 -1,681 1,555 -1,019 -538 2,002 -710 -1,239 103 -685 -22.00 -481 15.00 635 -574 -574 Change In Working Capital
1,025 1,101 184 -33.00 -414 -1,115 -973 340 1,397 1,311 709 -2,772 -2,221 -3,681 283 -444 -444 Change In DeferredTax
-38.00 -5.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Cash Flow from Discontinued
Operations
-370 -1,612 179 2,839 -3,965 -796 -5,882 -482 -2,315 -2,001 230 314 279 -2,476 -367 -2,051 -2,051 Cash Flow from Others
11,959 17,628 21,516 24,550 22,658 12,479 17,045 19,646 13,922 16,141 16,569 7,572 4,403 7,077 12,934 11,104 11,104 Cash Flow from Operations
-9,496 -11,620 -15,596 -11,791 -19,099 -10,861 -7,535 -11,214 -14,172 -15,537 -17,085 -10,050 -4,869 -4,591 -6,750 -6,636 -6,636 Purchase Of Property, Plant,
Equipment
1,591 768 545 3,572 1,640 1,270 14,710 4,820 2,132 10,220 1,603 1,952 1,286 13,860 1,082 -- 3,608 Sale Of Property, Plant, Equipment
-2.00 -- -- -- -- -- -1,723 1,459 -1,119 -603 -73.00 -- -- -- -- -- -- Cash From Discontinued Investing
Activities
118 -164 -14,942 -343 -157 -344 -787 -2,080 1,532 -385 590 -557 -276 -1,507 1,825 18.00 -2,902 Cash From Other Investing Activities
-7,789 -11,016 -29,993 -8,562 -17,616 -9,935 4,665 -7,015 -11,627 -6,305 -14,965 -8,655 -3,859 7,762 -3,843 -6,618 -6,618 Cash Flow from Investing
430 402 220 285 198 13.00 133 96.00 138 20.00 35.00 -- -- -- 121 -- -- Issuance of Stock
-- -1,924 -925 -7,001 -8,249 -- -3,733 -11,123 -5,098 -- -- -82.00 -189 -3,063 -2,999 -3,530 -3,530 Repurchase of Stock
-2,775 -2,550 10,232 -5,519 5,760 1,229 -5,176 -934 -569 -946 980 2,395 2,343 -7,876 -4,995 -80.00 -80.00 Net Issuance of Debt
-1,232 -1,639 -2,277 -2,661 -2,854 -2,832 -3,175 -3,632 -3,278 -3,334 -3,525 -3,664 -1,253 -1,305 -1,363 -1,500 -1,500 Cash Flow for Dividends
178 27.00 -185 -444 -619 -1,265 -735 -712 4,326 -2,873 -64.00 -78.00 -137 -112 -123 -119 -119 Other Financing
-3,399 -5,684 7,065 -15,340 -5,764 -2,855 -12,819 -16,305 -4,481 -7,133 -2,574 -1,429 764 -12,356 -9,359 -5,229 -5,229 Cash Flow from Financing
896 827 -1,397 639 -701 -213 8,912 -3,674 -2,162 2,628 -1,184 -2,694 1,242 2,715 -385 -789 -789 Net Change in Cash
-9,496 -11,620 -15,596 -11,791 -19,099 -10,861 -7,535 -11,214 -14,172 -15,537 -17,085 -10,050 -4,869 -4,591 -6,750 -6,636 -6,636 Capital Expenditure
2,463 6,008 5,920 12,759 3,559 1,618 9,510 8,432 -250 604 -516 -2,478 -466 2,486 6,184 4,468 4,468 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/COP 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
5.71 4.64 5.70 9.34 -- 13.24 6.80 6.20 8.67 9.57 12.51 -- -- -- 11.68 10.18 7.48 PE Ratio(TTM)
5.83 4.47 6.69 8.21 -- 54.83 7.88 8.26 15.28 10.83 21.92 -- -- -- 11.91 10.66 7.85 Price to Owner Earnings
(TTM)
1.08 1.16 1.09 1.18 1.06 0.96 1.11 1.09 1.47 1.66 1.64 1.45 1.77 2.11 2.22 2.02 1.49 Price to Book
1.73 1.68 1.80 1.79 1.16 1.03 1.19 1.17 1.47 1.66 1.64 1.45 1.77 2.11 2.22 2.02 1.48 Price to Tangible Book
18.70 10.45 15.39 8.69 18.52 36.18 8.08 8.96 -- 144 -- -- -- 27.00 11.82 16.35 12.03 Price-to-Free-Cash-Flow
Ratio
3.88 3.56 4.10 4.51 2.69 4.67 4.53 3.89 5.22 5.42 5.19 7.67 14.19 9.47 5.66 6.58 4.85 Price-to-Operating-Cash-
Flow Ratio
0.36 0.34 0.46 0.57 0.25 0.39 1.43 0.75 1.25 1.61 1.64 1.96 2.64 2.30 2.01 2.24 1.65 PS Ratio
0.20 0.27 0.24 1.53 -- -- -- -- -- 68.69 14.13 -- -- -- -- -- 0.44 PEG Ratio
0.48 0.40 0.62 0.66 0.36 0.59 1.58 0.84 1.54 1.88 1.96 2.72 3.63 2.56 2.15 2.31 1.74 EV-to-Revenue
2.33 2.22 3.12 3.46 12.49 4.37 3.28 3.61 3.93 4.54 5.60 28.83 17.98 13.97 4.71 4.59 3.46 EV-to-EBITDA
2.72 2.55 3.87 4.48 -40.94 8.10 4.66 5.07 5.54 6.78 10.25 -12.75 -20.05 -49.05 7.33 7.31 5.49 EV-to-EBIT
36.76 39.22 25.84 22.32 -2.44 12.35 21.46 19.72 18.05 14.75 9.76 -7.84 -4.99 -2.04 13.64 13.68 18.23 Return on Capital %
25.91 22.08 23.98 11.70 1.31 -5.86 -7.56 3.97 2.15 2.12 4.95 -15.67 -- -- -- -- -27.52 Forward Rate of Return
13.65 13.28 13.40 14.16 11.02 10.21 12.40 11.48 10.31 11.72 11.79 10.60 16.45 24.79 15.13 14.48 10.64 Shiller PE Ratio
2.70 2.66 2.63 2.44 4.76 4.91 4.14 4.75 4.55 3.82 4.11 6.30 1.99 1.93 1.86 2.05 3.04 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
45,994 61,108 90,179 105,105 58,455 59,368 76,186 71,419 70,749 86,613 85,037 57,709 62,037 64,612 70,976 70,549 51,721 Market Cap
60,714 72,619 117,698 126,509 86,255 88,069 88,815 88,191 89,296 102,159 102,902 80,541 85,904 74,412 78,444 75,286 56,458 Enterprise Value
33.10 44.35 54.85 67.31 39.49 38.93 51.91 55.55 57.99 70.65 69.06 46.69 50.14 54.89 62.35 65.03 47.84 Month End Stock Price
-35.08 -37.78 -49.46 -55.92 -58.74 -58.74 -51.95 -63.49 -53.72 -48.49 -48.37 -44.78 -41.33 -27.74 -26.72 -23.33 -23.33 Net Cash (per share)
-25.27 -25.15 -34.71 -41.01 -45.17 -45.21 -36.17 -44.94 -37.02 -38.29 -40.25 -39.59 -37.33 -22.29 -21.76 -17.16 -17.16 Net Current Asset Value
(per share)
-29.02 -29.93 -41.46 -46.71 -50.94 -50.62 -43.13 -52.05 -47.68 -42.81 -43.69 -41.59 -38.85 -24.54 -23.60 -20.50 -20.50 Net-Net Working Capital (per
share)
39.99 55.96 67.17 91.69 75.08 67.22 80.02 89.66 77.06 63.52 58.17 45.10 29.23 19.72 29.98 39.36 39.36 Projected FCF (per share)
49.54 68.45 58.28 57.06 72.27 41.27 14.26 29.32 18.46 19.39 22.09 16.02 24.14 34.22 49.07 49.92 49.92 Median PS (per share)
145 165 226 44.13 -99.54 -- -- -- -- -- -- -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
49.97 75.55 81.47 78.18 -- 49.97 82.24 74.17 72.32 78.40 66.06 -- -- -- 57.95 68.14 68.09 Graham Number (per share)
2.91 16.23 5.82 46.72 30.32 11.39 2.18 -2.53 -14.67 -23.08 -46.68 -77.81 -89.54 -74.02 -53.20 -38.60 -38.60 Earnings Power Value
(EPV)
2.68 3.48 2.72 2.62 2.33 1.90 1.70 2.01 2.06 2.20 2.10 1.21 1.30 1.92 2.93 3.09 2.80 Altman Z-Score
7.00 8.00 5.00 5.00 5.00 4.00 8.00 7.00 6.00 5.00 4.00 2.00 4.00 8.00 9.00 7.00 7.00 Piotroski F-Score
-1.83 -2.51 -2.64 -2.49 -2.77 -2.39 -2.01 -2.11 -3.56 -2.86 -2.97 -0.17 -4.01 -3.27 -3.16 -3.14 -3.14 Beneish M-Score
0.70 0.69 1.03 0.67 0.47 0.64 0.53 0.53 0.43 0.58 0.59 0.54 0.60 0.45 0.54 0.57 0.57 Scaled Net Operating
Assets
4.26 6.46 14.58 -2.30 -14.97 1.23 -6.62 -0.13 5.24 -0.58 4.52 -3.43 -4.63 -21.39 -4.05 3.83 3.83 Sloan Ratio (%)
0.96 0.92 0.95 0.92 0.96 0.89 1.26 1.08 1.38 1.26 1.31 0.95 1.25 1.76 1.79 2.40 2.40 Current Ratio
0.73 0.74 0.75 0.76 0.72 0.68 1.07 0.91 1.32 1.18 1.19 0.83 1.10 1.64 1.66 2.26 2.26 Quick Ratio
34.68 54.06 55.70 68.74 73.02 42.45 51.91 61.91 59.63 74.34 86.76 69.88 52.64 56.23 79.89 70.65 70.34 Highest Stock Price
24.69 31.85 42.71 47.13 31.87 26.78 36.11 46.49 50.82 56.81 61.69 42.19 31.88 42.50 52.02 50.42 45.12 Lowest Stock Price
-1.76 0.84 -19.32 5.02 5.20 -3.02 3.76 12.40 5.11 -0.49 -0.44 -0.38 -0.10 4.86 3.29 4.70 4.70 Shares Buyback Ratio (%)
10.51 52.74 -9.48 0.89 33.79 -36.92 -62.19 22.76 -0.05 -5.13 -3.94 -43.54 -20.08 25.30 29.96 -6.43 -6.54 YoY Rev. per Sh. Growth
(%)
67.87 64.66 1.15 -25.26 -249 127 159 17.72 -25.08 9.82 -25.34 -165 18.72 75.95 860 20.30 19.66 YoY EPS Growth (%)
-37.02 64.47 16.05 -1.26 -79.89 189 34.71 -7.88 8.47 0.09 -18.74 -84.74 70.49 13.76 225 2.92 2.75 YoY EBITDA Growth (%)
28.77 17.15 23.45 6.12 -8.15 -14.47 -15.11 -3.39 -2.61 0.16 1.06 -18.74 -- -- -- -- 17.40 EBITDA 5-Y Growth (%)
1,382 1,393 1,586 1,624 1,523 1,488 1,479 1,375 1,244 1,231 1,237 1,242 1,245 1,221 1,166 1,117 1,095 Shares Outstanding (Basic
Average)
1,390 1,378 1,644 1,562 1,480 1,525 1,468 1,286 1,220 1,226 1,231 1,236 1,237 1,177 1,138 1,085 1,097 Shares Outstanding (EOP)
0.64 0.37 0.59 0.79 1.21 1.08 1.18 1.13 1.18 0.89 0.78 1.03 1.44 1.51 1.18 0.84 0.83 Beta
02/25/05 02/27/06 02/23/07 02/22/08 02/25/09 02/25/10 02/23/11 02/21/12 02/19/13 02/25/14 02/24/15 02/23/16 02/21/17 02/20/18 02/19/19 02/18/20 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/COP 6/7
02/27/06 02/23/07 02/22/08 02/25/09 02/23/11 02/23/11 02/19/13 02/25/14 02/24/15 02/23/16 02/21/17 02/20/18 02/19/19 02/18/20 02/18/20 02/18/20 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/COP 7/7
Helmerich & Payne Inc (NYSE:HP) 03/03/2020 2:00PM EST GuruFocus
Price: $ 35.11 -2.51(-6.67%) Market Cap: $ 3.82 B Enterprise Value: $3.89 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
Forward P/E N/A
Cash to Debt 0.86 Operating margin (%) 6.87
P/B 0.98
Equity to Asset 0.68 Net-margin (%) -0.82
P/S 1.42
Interest Coverage 6.91 ROE (%) -0.61
F-Score:
PFCF 8.53
ROA (%) -0.37
6 POCF 5.06
Z-Score: ROC (Joel Greenblatt) (%) 0.21
2.81 EV-to-EBIT 370.58
Revenue Growth (3Y)(%) 19.40
M-Score: Shiller P/E 10.62
-3.10 EBITDA Growth (3Y)(%) -1.10
Current Ratio 2.75
WACC vs 19.55% EPS Growth (3Y)(%) 12.90
ROIC 2.70% Quick Ratio 2.40
WACC
ROIC Days Inventory 24.74
Days Sales Outstanding 68.42
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Helmerich & Payne has the largest fleet of U.S. land drilling rigs. The company's FlexRig line is the leading choice to
ROIC vs. WACC: Return on
drill horizontal wells for production of U.S. tight oil and gas. H&P is present in nearly every major U.S. tight oil and gas
invested capital is less than 2016 438 366 332 369 1,505 basin and also has a small presence internationally.... (Read More)
weighted average cost of 2017 405 499 532 564 2,000 Competitors: SHSE:600871 , NYSE:RIG, OCSE:DRLCO, NAS:PTEN, NYSE:NBR, NYSE:VAL , OSL:ODL ,
capital. 2018 577 649 697 741 2,664 NYSE:DO, IST:IPEKE, OSL:BDRILL, TSX:PD, TSX:ESI, SZSE:002828, OSL:SHLF, MIC:VJGZ, STC:PVD, NYSE:NE,
OSL:NODL, NYSE:SDRL, NYSE:PACD
2019 721 688 649 615 2,673
2020 Insider Trades
Good Signs
Quarterly Earnings per Share
Dividend Yield %: Close to
10-year high Mar Jun Sep Dec Full Year
2016 0.19 -0.20 -0.68 -0.33 -1.02
Price: Close to 10-year low 2017 -0.45 -0.21 -0.21 4.55 3.68
PB Ratio: Close to 10-year 2018 -0.12 -0.08 0.02 0.17 -0.01
low 2019 0.55 -1.42 0.37 0.27 -0.23
2020
PS Ratio: Close to 10-year
low Quarterly Dividends Per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.69 0.69 0.70 0.70 2.78
2017 0.70 0.70 0.70 0.70 2.80
EPS without NRI: $-0.12 2018 0.70 0.70 0.71 0.71 2.82
Growth Rate in the next 10 2019 0.71 0.71 0.71 0.71 2.84
years: 5% 2020
Terminal Growth Rate for 10
years: 4% Growth Rate
Fair Value: $-1.28 Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 0.60 -5.70 0.40
Reverse DCF EBITDA Growth (%) -6.70 -20.40 -10.80
Expected eps Growth Rate: Free Cash Flow Growth (%) 0.00 0.00 285.40
inf% Book Value Growth (%) 4.30 4.30 -8.30
EPS Growth (%) 0.00 0.00 0.00
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HP 1/7
Per Share Data
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
5.79 3.85 11.55 15.50 19.14 17.30 17.46 23.42 29.08 31.40 34.05 29.12 15.04 16.63 22.74 25.62 24.48 Revenue per Share
0.81 1.39 4.89 7.40 8.60 7.87 6.69 9.39 11.98 14.61 14.87 11.84 5.08 3.88 5.70 4.92 5.15 EBITDA per Share
-0.12 0.93 3.93 6.02 6.62 5.74 4.24 6.48 8.41 10.39 10.07 6.24 -0.46 -1.52 0.37 -0.24 0.10 EBIT per Share
0.05 0.62 2.77 4.27 4.34 3.31 1.45 3.99 5.34 6.79 6.44 3.85 -0.54 -1.20 4.37 -0.34 -0.23 Earnings per Share (diluted)
0.05 0.62 2.77 4.27 4.34 3.56 2.66 3.99 5.27 6.65 6.44 3.85 -0.50 -1.20 4.47 -0.33 -0.12 eps without NRI
-0.22 0.55 1.33 3.81 2.88 3.18 -2.23 3.63 3.67 4.63 4.67 5.29 -0.45 -2.44 -0.21 1.24 1.18 Owner Earnings per Share (TTM)
0.46 0.60 -2.19 -3.17 -0.89 0.18 1.24 2.61 -0.90 1.74 1.63 2.74 4.61 -0.24 0.83 3.64 4.12 Free Cashflow per Share
0.16 0.17 0.17 0.18 0.19 0.20 0.21 0.25 0.28 0.87 2.44 2.75 2.76 2.80 2.81 2.84 2.84 Dividends per Share
9.06 10.39 13.30 17.54 21.53 25.44 26.53 30.54 36.28 41.64 45.19 45.43 42.20 38.35 40.21 37.00 36.27 Book Value per Share
9.06 10.39 13.30 17.54 21.53 25.44 26.53 30.54 36.28 41.64 45.19 45.43 42.15 37.40 38.95 35.44 34.73 Tangible Book per Share
1.98 1.93 1.96 4.30 4.77 4.98 3.40 3.27 2.22 1.83 0.73 4.93 4.55 4.54 4.53 4.42 4.37 Total Debt per Share
14.35 30.20 23.03 32.83 43.19 39.53 40.46 40.60 47.61 68.95 97.87 47.26 67.30 52.41 68.77 40.07 35.11 Month End Stock Price
Ratios
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
0.48 12.80 23.88 28.10 22.63 14.29 5.69 14.25 16.29 17.70 15.05 8.55 -1.24 -2.98 11.19 -0.88 -0.61 Return on Equity %
0.31 8.31 15.47 17.90 14.27 9.12 3.71 9.37 10.84 12.29 10.88 6.06 -0.81 -1.93 7.63 -0.56 -0.37 Return on Assets %
-1.08 17.35 31.02 32.25 26.55 19.18 13.02 18.66 20.81 22.60 20.47 11.76 -0.89 -3.12 0.77 -0.53 0.21 Return on Capital %
-0.52 11.13 21.75 21.91 18.56 13.12 9.40 13.70 15.65 14.87 15.17 9.59 -0.49 -3.21 24.08 3.01 2.70 Return on Invested Capital %
7.06 8.82 14.62 13.83 8.07 9.04 7.76 8.91 9.70 13.20 11.10 7.86 8.67 9.35 19,020 32,605 19.55 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 2.65 3.88 4.89 2.96 2.85 3.40 4.92 4.48 4.01 4.92 5.18 5.46 Effective Interest Rate on Debt %
29.09 39.53 45.99 47.09 46.64 48.76 42.83 31.28 32.16 31.86 31.90 26.89 7.81 -1.67 10.09 15.26 14.99 Gross Margin %
-2.08 24.07 34.07 38.80 34.57 33.02 23.83 27.07 28.25 27.68 27.83 22.12 -1.82 -10.51 1.34 7.33 6.87 Operating Margin %
0.74 15.94 23.99 27.57 22.67 19.18 8.34 17.07 18.44 21.75 19.01 13.30 -3.50 -7.10 19.41 -1.20 -0.82 Net Margin %
7.88 15.66 -18.98 -20.44 -4.66 1.04 7.08 11.14 -3.09 5.55 4.78 9.40 30.62 -1.46 3.67 14.20 16.83 FCF Margin %
0.22 0.19 0.15 0.25 0.22 0.20 0.13 0.11 0.06 0.04 0.02 0.11 0.11 0.12 0.11 0.12 0.12 Debt to Equity
0.65 0.65 0.65 0.63 0.63 0.65 0.66 0.65 0.67 0.71 0.73 0.69 0.67 0.65 0.71 0.69 0.68 Total Equity to Total Asset
0.14 0.12 0.10 0.15 0.14 0.13 0.08 0.07 0.04 0.03 0.01 0.07 0.07 0.08 0.08 0.08 0.08 Total Debt to Total Asset
12.13 20.62 29.66 30.57 29.35 23.20 19.06 17.17 18.90 18.01 18.25 12.26 1.81 -0.45 3.96 7.09 6.71 Gross Profit to Total Asset %
0.42 0.52 0.65 0.65 0.63 0.48 0.45 0.55 0.59 0.57 0.57 0.46 0.23 0.27 0.39 0.46 0.45 Asset Turnover
3.58 0.27 0.06 0.04 0.04 0.06 0.08 0.06 0.05 0.13 0.38 0.71 -- -- 0.63 -- -- Dividend Payout Ratio
82.57 74.14 84.45 75.66 82.95 46.31 79.79 66.08 71.86 66.96 69.27 51.48 64.49 80.56 77.90 60.23 68.42 Days Sales Outstanding
24.48 33.81 76.55 52.73 51.68 26.34 27.42 21.68 27.22 22.83 26.25 17.08 23.26 26.98 21.65 18.95 19.70 Days Accounts Payable
18.94 15.88 13.10 11.71 10.45 14.03 14.12 10.21 11.37 13.25 14.07 18.54 30.82 26.01 24.10 23.69 24.74 Days Inventory
77.03 56.21 21.00 34.64 41.72 34.00 66.49 54.61 56.01 57.38 57.09 52.94 72.05 79.59 80.35 64.97 73.46 Cash Conversion Cycle
19.27 22.98 27.87 31.18 34.92 26.01 25.85 35.74 32.11 27.54 25.94 19.69 11.84 14.03 15.14 15.41 14.75 Inventory Turnover
0.71 0.60 0.54 0.53 0.53 0.51 0.57 0.69 0.68 0.68 0.68 0.73 0.92 1.02 0.90 0.85 0.85 COGS to Revenue
0.04 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.04 0.08 0.07 0.06 0.06 0.06 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HP 2/7
Income Statement
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
589 801 1,225 1,630 2,037 1,844 1,875 2,544 3,152 3,388 3,716 3,162 1,624 1,805 2,487 2,798 2,673 Revenue
418 484 662 862 1,087 945 1,072 1,748 2,138 2,308 2,531 2,312 1,497 1,835 2,236 2,371 2,272 Cost of Goods Sold
171 316 563 767 950 899 803 796 1,014 1,079 1,185 850 127 -30.12 251 427 401 Gross Profit
29.09 39.53 45.99 47.09 46.64 48.76 42.83 31.28 32.16 31.86 31.90 26.89 7.81 -1.67 10.09 15.26 14.99 Gross Margin %
37.66 41.02 51.87 47.40 57.06 58.82 81.48 91.45 107 126 135 135 146 148 199 194 190 Selling, General, & Admin. Expense
-- -- -- -- 1.83 9.67 12.26 15.76 16.06 15.24 15.91 16.10 10.27 12.05 18.17 27.47 27.33 Research & Development
146 82.72 94.09 87.68 187 222 263 -- 0.00 -- 0.00 -- 0.00 -- -0.00 0.00 -0.00 Other Operating Expense
-12.26 193 417 632 704 609 447 689 890 938 1,034 699 -29.61 -190 33.43 205 184 Operating Income
-2.08 24.07 34.07 38.80 34.57 33.02 23.83 27.07 28.25 27.68 27.83 22.12 -1.82 -10.51 1.34 7.33 6.87 Operating Margin %
-- -- -- -- -- 2.76 1.81 1.95 1.38 1.65 1.54 5.84 3.17 5.92 8.02 9.47 9.23 Interest Income
-- -- -- -- -- -13.59 -17.16 -17.36 -8.65 -6.13 -4.66 -15.02 -22.91 -19.75 -24.27 -25.19 -26.57 Interest Expense
-- -- -- -- -- -10.84 -15.35 -15.40 -7.27 -4.48 -3.11 -9.18 -19.75 -13.83 -16.25 -15.72 -17.34 Net Interest Income
20.26 19.90 23.70 58.03 -4.02 0.25 6.78 13.86 19.48 181 63.68 -28.31 -23.31 18.95 -1.34 -241 -182 Other Income (Expense)
8.00 213 441 690 700 598 438 687 903 1,114 1,095 662 -72.67 -185 15.84 -51.22 -16.07 Pre-Tax Income
-4.37 -87.46 -154 -251 -256 -228 -152 -252 -329 -393 -388 -241 19.68 56.74 477 18.71 5.93 Tax Provision
54.56 41.13 35.01 36.36 36.51 38.08 34.72 36.74 36.45 35.25 35.45 36.47 27.08 30.73 -3,012 36.53 36.87 Tax Rate %
4.36 128 294 449 462 381 286 435 574 721 707 420 -52.99 -128 493 -32.51 -10.15 Net Income (Continuing Operations)
-- -- -- -- -- -27.00 -130 -0.48 7.44 15.19 -0.05 -0.05 -3.84 -0.35 -10.34 -1.15 -11.87 Net Income (Discontinued
Operations)
4.36 128 294 449 462 354 156 434 581 737 707 420 -56.83 -128 483 -33.66 -22.01 Net Income
0.74 15.94 23.99 27.57 22.67 19.18 8.34 17.07 18.44 21.75 19.01 13.30 -3.50 -7.10 19.41 -1.20 -0.82 Net Margin %
0.05 0.63 2.81 4.35 4.43 3.35 1.47 4.06 5.42 6.89 6.52 3.88 -0.54 -1.20 4.39 -0.34 -0.23 EPS (Basic)
0.05 0.62 2.77 4.27 4.34 3.31 1.45 3.99 5.34 6.79 6.44 3.85 -0.54 -1.20 4.37 -0.34 -0.23 EPS (Diluted)
102 208 106 105 106 107 107 109 108 108 109 109 108 109 109 109 109 Shares Outstanding (Diluted
Average)
94.44 96.30 102 146 211 228 263 315 388 456 524 608 599 586 584 563 551 Depreciation, Depletion and
Amortization
82.17 289 519 778 915 839 718 1,020 1,299 1,576 1,623 1,285 549 421 624 537 562 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HP 3/7
Balance Sheet
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
65.30 289 33.85 89.22 122 96.14 63.02 364 96.10 448 361 729 906 521 284 348 355 Cash And Cash Equivalents
-- 0.39 48.67 0.35 -- 12.50 -- -- -- -- -- 45.54 44.15 44.49 41.46 52.96 57.04 Marketable Securities
65.30 289 82.53 89.57 122 109 63.02 364 96.10 448 361 775 950 566 326 401 412 Cash, Cash Equivalents, Marketable
Securities
133 163 283 338 463 234 410 461 620 621 705 446 287 398 531 462 501 Accounts Receivable
-- -- -- -- -- -- -- -- -- -- -- -- -- 137 158 150 149 Inventories, Raw Materials &
Components
20.83 21.31 26.17 29.15 33.10 39.54 43.40 54.41 78.78 88.87 106 129 124 -- -- -- -- Inventories, Other
20.83 21.31 26.17 29.15 33.10 39.54 43.40 54.41 78.78 88.87 106 129 124 137 158 150 149 Total Inventories
25.95 26.70 30.52 40.43 73.20 141 88.72 77.12 99.87 100 105 89.78 123 55.12 66.40 66.78 92.96 Other Current Assets
245 500 429 499 691 523 653 956 895 1,258 1,277 1,439 1,573 1,235 1,116 1,115 1,155 Total Current Assets
-- -- -- -- -- 356 321 348 451 316 237 104 84.96 84.03 98.70 31.99 35.15 Investments And Advances
56.31 57.49 58.29 59.47 60.81 -- -- -- -- -- -- -- -- -- -- -- -- Land And Improvements
1,532 1,549 1,911 2,652 3,264 3,902 4,285 4,835 -- -- -- -- -- -- -- -- 3.30 Machinery, Furniture, Equipment
1.23 34.77 221 215 279 232 155 233 216 153 289 95.52 98.31 169 164 118 135 Construction In Progress
1,683 1,738 2,304 3,057 3,754 4,364 4,684 5,341 6,244 6,957 7,835 8,539 8,425 8,817 9,077 9,089 9,002 Gross Property, Plant and Equipment
-684 -756 -821 -905 -1,072 -1,170 -1,409 -1,664 -1,914 -2,303 -2,669 -2,998 -3,302 -3,840 -4,289 -4,616 -4,610 Accumulated Depreciation
999 982 1,483 2,153 2,682 3,194 3,275 3,677 4,330 4,654 5,166 5,541 5,123 4,977 4,788 4,473 4,392 Property, Plant and Equipment
-- -- -- -- -- -- -- -- -- -- -- -- 5.64 102 138 170 169 Intangible Assets
-- -- -- -- -- -- -- -- -- -- -- -- 4.72 51.71 64.78 82.79 82.79 Goodwill
163 182 223 234 215 87.42 16.83 22.58 44.44 36.05 40.87 62.66 46.16 40.99 74.14 49.79 90.56 Other Long Term Assets
1,407 1,663 2,135 2,885 3,588 4,161 4,265 5,004 5,721 6,265 6,721 7,147 6,832 6,440 6,215 5,840 5,842 Total Assets
28.01 44.85 139 125 154 68.17 80.53 104 159 144 182 108 95.42 136 133 123 123 Accounts Payable
-- -- -- -- -- 51.86 44.93 54.86 37.17 38.33 53.15 38.57 31.44 43.65 58.06 69.84 -- Total Tax Payable
59.90 89.48 236 227 282 148 205 238 306 303 435 234 263 287 331 333 419 Accounts Payable & Accrued
Expense
-- -- 28.72 -- 26.73 105 -- 115 40.00 115 39.64 39.09 -- -- -- -- -- Current Portion of Long-Term Debt
-- -- -- -- -- 26.03 6.44 4.07 24.63 23.90 21.25 61.00 52.60 35.72 30.19 40.16 -- Current Deferred Revenue
-- -- -- -- -- 32.09 19.96 15.35 24.63 23.90 21.25 61.00 52.60 35.72 30.19 40.16 -- DeferredTaxAndRevenue
-- -- -- -- -- 16.98 7.99 48.06 10.74 10.24 11.34 14.17 14.86 22.16 15.89 37.12 -- Other Current Liabilities
59.90 89.48 265 227 309 302 233 417 381 452 507 348 330 344 377 410 419 Total Current Liabilities
200 200 175 445 475 420 360 235 195 80.00 39.50 492 492 493 494 479 479 Long-Term Debt
200 200 175 445 475 420 360 235 195 80.00 39.50 492 492 493 494 479 479 Long-Term Debt & Capital Lease
Obligation
0.22 0.19 0.15 0.25 0.22 0.20 0.13 0.11 0.06 0.04 0.02 0.11 0.11 0.12 0.11 0.12 0.12 Debt to Equity
-- -- -- -- -- -- -- 50.23 52.53 35.61 38.78 49.27 61.41 67.03 74.43 88.89 -- PensionAndRetirementBenefit
195 247 270 364 480 672 771 1,008 1,235 1,233 1,219 1,334 1,367 1,340 856 816 799 NonCurrent Deferred Liabilities
38.26 47.66 43.35 34.71 58.65 83.75 93.88 24.18 22.23 20.39 25.50 27.08 20.48 30.71 30.69 32.73 168 Other Long-Term Liabilities
493 584 753 1,070 1,323 1,478 1,458 1,734 1,886 1,821 1,830 2,251 2,271 2,275 1,832 1,827 1,866 Total Liabilities
5.35 5.35 10.71 10.71 10.71 10.71 10.71 10.72 10.76 10.87 11.05 11.10 11.14 11.20 11.20 11.21 11.22 Common Stock
829 939 1,215 1,646 2,083 2,415 2,548 2,954 3,505 4,103 4,526 4,648 4,290 3,856 4,028 3,714 3,666 Retained Earnings
36.25 47.41 69.65 75.89 38.41 112 84.11 98.91 167 133 83.13 -1.38 -0.20 2.30 16.55 -28.64 -28.12 Accumulated other comprehensive
income (loss)
85.47 112 136 143 169 176 192 211 236 289 384 420 448 487 500 510 499 Additional Paid-In Capital
-41.72 -25.20 -49.09 -59.99 -35.65 -31.13 -27.17 -4.70 -84.10 -91.10 -113 -182 -188 -192 -173 -195 -173 Treasury Stock
914 1,079 1,382 1,816 2,265 2,683 2,807 3,270 3,835 4,444 4,891 4,896 4,561 4,165 4,383 4,012 3,976 Total Equity
0.65 0.65 0.65 0.63 0.63 0.65 0.66 0.65 0.67 0.71 0.73 0.69 0.67 0.65 0.71 0.69 0.68 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HP 4/7
Cashflow Statement
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
4.36 128 294 449 462 381 286 435 574 721 707 420 -52.99 -128 493 -32.51 -10.15 Net Income
4.36 128 294 449 462 381 286 435 574 721 707 420 -52.99 -128 493 -32.51 -10.15 Net Income From Continuing
Operations
94.44 96.30 102 146 211 228 263 315 388 456 524 608 599 586 584 563 551 Depreciation, Depletion and
Amortization
-25.34 -46.22 -121 -53.77 -128 157 -224 -2.74 -160 -6.48 -71.21 260 76.50 -93.64 -82.93 70.69 48.04 Change In Receivables
1.71 -0.49 -4.85 -2.98 -3.95 -10.98 -3.86 -11.01 -22.17 -12.29 -16.62 -23.05 1.94 -10.61 -22.43 1.82 4.64 Change In Inventory
24.14 1.45 0.37 -18.61 -25.60 -9.44 -12.80 12.62 -27.76 5.32 -12.86 -4.46 -2.46 29.45 -3.83 -0.18 -19.94 Change In Prepaid Assets
-0.38 8.52 -11.06 73.78 -15.65 -22.32 30.79 37.85 55.10 -27.82 19.27 -63.74 38.66 3.29 39.34 31.74 16.97 Change In Payables And Accrued
Expense
10.00 -21.48 -77.12 7.96 -137 113 -199 42.86 -157 -58.64 -91.56 207 97.80 -73.03 -75.07 95.90 55.66 Change In Working Capital
8.26 54.57 7.99 88.40 130 158 106 188 197 29.56 26.13 131 60.09 -24.11 -487 -44.55 -53.63 Change In DeferredTax
-- -- -- -- -- 8.35 15.86 12.10 18.08 23.27 26.70 25.20 24.38 26.18 31.69 34.29 37.34 Stock Based Compensation
19.59 -44.76 -29.93 -131 -54.31 -14.91 -4.71 -14.71 -19.02 -174 -62.74 -2.55 20.37 -15.37 -11.78 15.56 177 Cash Flow from Others
137 212 296 561 611 896 462 978 1,000 997 1,129 1,429 755 371 558 856 758 Cash Flow from Operations
-90.21 -86.81 -529 -894 -706 -877 -330 -694 -1,098 -809 -952 -1,131 -257 -398 -467 -458 -308 Purchase Of Property, Plant,
Equipment
7.94 28.99 11.78 51.57 22.91 8.07 7.87 -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -- -0.02 -- -4.00 -- -- -- -- -- -70.42 -47.89 -16.16 -2.78 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 15.06 Sale Of Business
-- -5.00 -148 -- -- -12.50 -0.02 -- -- -- -- -45.61 -57.28 -69.87 -71.05 -97.65 -95.28 Purchase Of Investment
14.03 65.54 114 128 25.51 0.54 12.52 3.93 -- 232 49.21 -- 58.38 69.45 68.78 98.76 91.90 Sale Of Investment
-- -- -- -- -- -3.28 -0.06 -- 7.50 15.00 -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
0.00 -- 2.97 16.26 1.88 0.00 0.00 26.80 39.89 28.03 30.18 22.64 21.85 23.41 44.38 50.82 37.70 Cash From Other Investing Activities
-68.24 2.73 -549 -699 -655 -884 -309 -668 -1,050 -534 -872 -1,154 -234 -445 -472 -423 -259 Cash Flow from Investing
4.93 25.36 12.37 3.80 14.54 -- -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -28.41 -17.62 -- -- -- -- -77.61 -- -- -59.65 -- -- -- -42.78 -- Repurchase of Stock
-30.00 -- 21.15 224 56.73 25.31 -167 -10.00 -115 -40.00 -115 457 -40.00 -- -- -- -- Net Issuance of Debt
-16.22 -16.87 -17.71 -18.64 -19.33 -21.11 -22.25 -26.74 -30.05 -93.05 -264 -298 -300 -306 -308 -313 -313 Cash Flow for Dividends
-- -- 10.19 1.47 24.87 2.49 3.14 27.95 4.46 21.46 46.82 -4.19 -3.98 4.69 -11.38 -20.13 -54.48 Other Financing
-41.30 8.49 -2.41 193 76.81 6.68 -186 -8.79 -218 -112 -333 94.91 -344 -301 -320 -376 -367 Cash Flow from Financing
27.11 223 -255 55.36 32.30 18.59 -33.12 301 -268 352 -75.64 369 176 -375 -234 56.79 132 Net Change in Cash
-90.21 -86.81 -529 -894 -706 -877 -330 -694 -1,098 -809 -952 -1,131 -257 -398 -467 -458 -308 Capital Expenditure
46.43 125 -233 -333 -94.81 19.10 133 283 -97.35 188 178 297 497 -26.37 91.27 397 450 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HP 5/7
Valuation Ratios
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
319 33.01 10.60 7.69 9.95 11.91 28.10 10.15 8.92 10.14 15.15 12.12 -- -- 15.74 -- -- PE Ratio(TTM)
-- 55.01 17.38 8.61 14.99 12.42 -- 11.18 12.99 14.88 20.94 8.94 -- -- -- 32.31 29.66 Price to Owner Earnings
(TTM)
1.58 2.91 1.73 1.87 2.01 1.55 1.53 1.33 1.31 1.66 2.17 1.04 1.59 1.37 1.71 1.08 0.98 Price to Book
1.58 2.91 1.73 1.87 2.01 1.55 1.53 1.33 1.31 1.66 2.17 1.04 1.60 1.40 1.77 1.13 1.01 Price to Tangible Book
31.47 34.71 -- -- -- 226 32.73 15.53 -- 39.47 59.90 17.27 14.65 -- 82.26 11.02 8.53 Price-to-Free-Cash-Flow
Ratio
10.69 21.66 10.73 6.15 7.53 4.70 9.40 4.51 5.15 7.45 9.45 3.59 9.66 15.32 13.45 5.12 5.06 Price-to-Operating-Cash-
Flow Ratio
2.48 5.40 2.59 2.12 2.26 2.23 2.32 1.73 1.64 2.20 2.87 1.62 4.49 3.15 3.02 1.57 1.42 PS Ratio
-- 15.72 0.46 0.16 0.15 0.17 0.55 1.34 1.58 0.79 0.69 0.76 -- -- -- -- -- PEG Ratio
2.69 3.81 2.05 2.30 2.42 2.43 2.44 1.70 1.64 2.10 2.77 1.53 4.20 3.11 3.08 1.58 1.44 EV-to-Revenue
19.26 10.54 4.85 4.82 5.38 5.46 6.38 4.25 3.98 4.51 6.35 3.77 12.42 13.36 12.28 8.24 6.92 EV-to-EBITDA
-129 15.81 6.04 5.94 7.00 7.55 10.05 6.15 5.67 6.34 9.38 7.16 -137 -34.09 191 -170 371 EV-to-EBIT
-0.77 6.33 16.56 16.84 14.29 13.25 9.95 16.26 17.64 15.77 10.66 13.97 -0.73 -2.93 0.52 -0.59 0.26 Return on Capital %
-7.98 2.63 18.34 16.85 17.89 17.83 17.95 6.97 6.48 14.41 21.27 19.10 -3.85 -22.30 -25.49 -15.29 -11.84 Forward Rate of Return
43.77 68.82 35.92 31.29 29.53 22.55 22.18 18.17 17.06 19.77 23.32 10.55 16.00 14.18 18.56 11.97 10.62 Shiller PE Ratio
1.12 0.54 0.73 0.55 0.43 0.51 0.52 0.62 0.59 1.26 2.49 5.82 4.11 5.34 4.09 7.09 8.09 Dividend Yield %
Valuation and Quality
Sep04 Sep05 Sep06 Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 TTM Fiscal Period
1,448 3,137 2,392 3,397 4,545 4,170 4,281 4,348 5,032 7,358 10,593 5,093 7,274 5,692 7,496 4,345 3,823 Market Cap
1,582 3,048 2,513 3,753 4,925 4,586 4,578 4,333 5,171 7,105 10,311 4,850 6,816 5,619 7,664 4,424 3,890 Enterprise Value
14.35 30.20 23.03 32.83 43.19 39.53 40.46 40.60 47.61 68.95 97.87 47.26 67.30 52.41 68.77 40.07 35.11 Month End Stock Price
-4.24 -2.84 -6.45 -9.47 -11.41 -12.98 -13.18 -12.79 -16.93 -12.87 -13.57 -13.70 -12.23 -15.74 -13.82 -13.15 -13.27 Net Cash (per share)
-2.45 -0.81 -3.12 -5.52 -6.01 -9.05 -7.61 -7.26 -9.37 -5.27 -5.11 -7.54 -6.46 -9.58 -6.57 -6.57 -6.49 Net Current Asset Value
(per share)
-3.14 -1.56 -4.28 -6.88 -7.96 -11.13 -10.07 -9.31 -12.16 -8.08 -8.20 -10.00 -9.66 -12.36 -9.44 -9.27 -9.16 Net-Net Working Capital (per
share)
8.09 5.20 7.27 -1.59 2.15 9.17 12.07 18.90 26.76 42.66 51.74 57.42 53.52 45.83 49.76 50.38 48.75 Projected FCF (per share)
15.69 16.12 27.09 44.23 55.83 51.69 50.32 66.79 79.85 81.71 90.66 72.52 36.32 41.32 57.71 65.17 62.23 Median PS (per share)
-- 6.99 49.70 107 109 87.25 66.50 30.28 30.14 87.51 142 61.85 -- -- -- -- -- Peter Lynch Fair Value (per
share)
3.03 11.99 28.80 41.06 45.85 45.14 39.85 52.36 65.59 78.93 80.92 62.73 -- -- 62.59 -- -- Graham Number (per share)
-9.67 -2.93 -11.50 -18.68 -16.22 -21.12 -19.61 -13.89 -14.70 -11.46 -3.34 -12.78 -20.17 -28.77 -200,925 -486,280 -565,789 Earnings Power Value
(EPV)
3.18 5.21 4.05 4.17 4.21 3.50 3.51 3.43 3.64 4.63 5.65 3.21 3.23 2.70 3.93 2.93 2.81 Altman Z-Score
6.00 8.00 8.00 7.00 5.00 6.00 5.00 6.00 9.00 6.00 6.00 5.00 4.00 3.00 6.00 5.00 6.00 Piotroski F-Score
-2.37 -2.72 -2.04 -2.77 -2.52 -3.21 -2.19 -2.63 -2.41 -2.92 -2.79 -3.75 -2.19 -5.23 -2.70 -3.34 -3.10 Beneish M-Score
0.74 0.70 0.90 1.02 0.92 0.86 0.75 0.76 0.79 0.73 0.74 0.69 0.57 0.60 0.71 0.66 0.69 Scaled Net Operating
Assets
-4.55 -5.25 25.59 20.34 14.11 8.21 0.08 2.48 11.03 4.36 6.69 2.05 -8.45 -0.85 6.39 -7.99 -8.92 Sloan Ratio (%)
4.10 5.59 1.62 2.20 2.24 1.73 2.81 2.29 2.35 2.78 2.52 4.13 4.76 3.59 2.96 2.72 2.75 Current Ratio
3.75 5.35 1.52 2.07 2.13 1.60 2.62 2.16 2.14 2.59 2.31 3.76 4.39 3.19 2.54 2.35 2.40 Quick Ratio
15.31 30.56 39.95 36.43 76.99 42.04 48.58 72.60 65.13 70.82 118 94.58 69.77 83.46 74.33 72.94 64.80 Highest Stock Price
11.89 13.83 22.02 21.75 30.40 18.10 33.42 40.26 37.39 45.22 70.92 46.50 42.85 42.34 50.02 36.36 35.02 Lowest Stock Price
-0.61 -2.95 -- 0.37 -1.68 -0.25 -0.32 -1.20 1.30 -0.96 -1.42 0.43 -0.29 -0.49 -0.36 0.51 -0.18 Shares Buyback Ratio (%)
15.97 -33.60 200 34.27 23.44 -9.62 0.95 34.13 24.19 7.98 8.42 -14.47 -48.35 10.60 36.70 12.69 0.37 YoY Rev. per Sh. Growth
(%)
-50.00 1,267 350 54.15 1.64 -23.73 -56.19 175 33.83 27.15 -5.15 -40.22 -114 -122 464 -108 -2,200 YoY EPS Growth (%)
-30.22 71.91 252 51.38 16.09 -8.39 -15.09 40.41 27.65 21.90 1.81 -20.43 -57.06 -23.71 47.12 -13.83 -10.79 YoY EBITDA Growth (%)
-8.85 2.10 22.87 46.63 67.80 65.22 27.64 7.57 5.72 13.14 22.01 15.86 -6.84 -26.32 -28.25 -20.79 -20.40 EBITDA 5-Y Growth (%)
101 204 105 103 104 105 106 107 107 106 108 108 108 109 109 109 109 Shares Outstanding (Basic
Average)
101 104 104 103 105 105 106 107 106 107 108 108 108 109 109 108 110 Shares Outstanding (EOP)
0.66 0.84 1.87 1.73 0.83 1.11 0.97 1.25 1.43 1.83 1.46 1.01 1.24 1.27 1.50 1.87 1.83 Beta
12/13/04 12/13/05 12/13/06 11/28/07 11/26/08 11/25/09 11/24/10 11/23/11 11/21/12 11/27/13 11/26/14 11/25/15 11/23/16 11/22/17 11/16/18 11/15/19 Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HP 6/7
12/13/05 12/13/06 11/28/07 11/28/07 11/26/08 11/24/10 11/21/12 11/27/13 11/26/14 11/25/15 11/23/16 11/22/17 11/16/18 11/15/19 11/15/19 11/15/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HP 7/7
Netflix Inc (NAS:NFLX) 03/03/2020 2:30PM EST GuruFocus
Price: $ 370.26 -10.80(-2.83%) Market Cap: $ 162.47 B Enterprise Value: $172.21 B Stock PDF
Financial Strength : 5/10 Profitability & Growth : 9/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 89.65
Cash to Debt 0.34 Operating margin (%) 12.92
Forward P/E N/A
Equity to Asset 0.22 Net-margin (%) 9.26
PE(NRI) 89.65
Interest Coverage 4.16 ROE (%) 29.64
F-Score:
P/B 21.43
ROA (%) 6.30
3 P/S 8.30
Z-Score: ROC (Joel Greenblatt) (%) 571.42
4.83 EV-to-EBIT 64.07
Revenue Growth (3Y)(%) 30.40
M-Score: PEG 3.06
-1.47 EBITDA Growth (3Y)(%) 29.80
Shiller P/E 332.50
WACC vs 10.92% EPS Growth (3Y)(%) 112.60
ROIC 16.76% Current Ratio 0.90
WACC
ROIC Quick Ratio 0.90
Days Sales Outstanding 8.23
Warning Signs Quarterly Revenues Company Description
Mar Jun Sep Dec Full Year Netflix's primary business is a streaming video on demand service now available in almost every country worldwide
Price: Close to 10-year high
except China. Netflix delivers original and third-party digital video content to PCs, Internet-connected TVs, and
2016 1,958 2,105 2,290 2,478 8,831 consumer electronic devices, including tablets, video game consoles, Apple TV, Roku, and Chromecast. In 2011,
Insider Sell: Insider Selling Netflix introduced DVD-only plans and separated the combined streaming and DVD plans, making it necessary for
2017 2,637 2,785 2,985 3,286 11,693
subscribers who want both to have separate plans.... (Read More)
2018 3,701 3,907 3,999 4,187 15,794
Competitors: NAS:CMCSA, NAS:CHTR, NYSE:DIS, NAS:LBRDA, NAS:DISH, NAS:VIAC, NYSE:LYV,
Good Signs 2019 4,521 4,923 5,245 5,467 20,156 NAS:DISCA, NAS:ROKU, NAS:LBTYA, XPAR:BOL, HAM:KD8, NAS:VIA, SZSE:002624, NYSE:MSG, NYSE:DLB,
2020 TSE:9602, FRA:EVD, GREY:MERLY, SZSE:002739
Revenue per Share:
Consistent growth Quarterly Earnings per Share Insider Trades
Operating Margin %: Mar Jun Sep Dec Full Year
Expansion 2016 0.06 0.09 0.12 0.15 0.42
2017 0.40 0.15 0.29 0.41 1.25
2018 0.64 0.85 0.89 0.30 2.68
DCF 2019 0.76 0.60 1.47 1.30 4.13
EPS without NRI: $4.13 2020
Growth Rate in the next 10 Quarterly Dividends Per Share
years: 20%
Terminal Growth Rate for 10 Mar Jun Sep Dec Full Year
years: 4% 2016 0.00 0.00 0.00 0.00 0.00
Fair Value: $117.57 2017 0.00 0.00 0.00 0.00 0.00
2018 0.00 0.00 0.00 0.00 0.00
2019 0.00 0.00 0.00 0.00 0.00
Reverse DCF 2020
Expected eps Growth Rate: Growth Rate
37.53%
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 25.20 29.20 27.50
EBITDA Growth (%) 39.40 30.20 29.50
Free Cash Flow Growth (%) 0.00 -73.20 0.00
Book Value Growth (%) 38.70 31.70 44.00
EPS Growth (%) 28.70 64.10 54.10
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NFLX 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
1.11 1.49 2.06 2.50 3.10 4.09 5.69 8.42 8.75 10.29 12.75 15.53 20.13 26.17 35.00 44.62 44.62 Revenue per Share
0.24 0.24 0.46 0.66 0.86 0.58 1.65 3.20 4.25 5.74 7.37 8.76 12.16 15.65 20.53 26.58 26.58 EBITDA per Share
0.04 0.01 0.13 0.19 0.31 0.49 0.76 1.00 0.12 0.47 0.93 0.63 0.94 1.62 3.65 5.95 5.95 EBIT per Share
0.05 0.09 0.10 0.14 0.19 0.28 0.42 0.59 0.04 0.26 0.62 0.28 0.43 1.25 2.68 4.13 4.13 Earnings per Share (diluted)
0.05 0.09 0.10 0.14 0.19 0.28 0.42 0.59 0.04 0.26 0.62 0.28 0.43 1.25 2.68 4.13 4.13 eps without NRI
-- -- 0.31 0.45 0.44 0.17 1.72 6.60 5.80 7.03 8.41 11.02 15.67 16.58 21.90 22.75 22.75 Owner Earnings per Share (TTM)
0.07 0.04 0.10 0.51 0.54 0.68 0.31 0.48 -0.16 -0.05 -0.30 -2.11 -3.78 -4.39 -6.33 -6.95 -6.95 Free Cashflow per Share
0.42 0.59 0.86 0.95 0.84 0.53 0.79 1.66 1.91 3.20 4.39 5.20 6.23 8.27 12.00 17.28 17.28 Book Value per Share
0.42 0.44 0.64 0.65 0.60 0.53 0.79 -1.04 -1.96 -1.82 -2.17 -4.88 -10.68 -15.67 -22.25 -38.57 -38.57 Tangible Book per Share
-- -- -- 0.08 0.10 0.64 0.55 1.03 1.03 1.20 2.10 5.54 7.82 15.00 23.73 33.64 33.64 Total Debt per Share
1.76 3.87 3.69 3.80 4.27 7.87 25.10 9.90 13.23 52.60 48.80 114 124 192 268 324 370 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
16.06 21.97 15.33 15.86 21.37 42.42 65.75 48.47 2.47 10.82 16.72 6.01 7.61 17.85 27.46 29.12 29.64 Return on Equity %
10.10 13.63 10.08 10.36 12.78 17.89 19.36 11.16 0.49 2.40 4.28 1.42 1.57 3.43 5.38 6.23 6.30 Return on Assets %
136 10.14 135 137 132 155 221 287 37.66 151 282 170 194 254 447 547 571 Return on Capital %
-- -- 283 115 90.17 110 132 122 8.77 29.14 34.78 15.46 8.25 16.70 16.63 16.19 16.76 Return on Invested Capital %
15.62 21.03 28.71 16.15 8.63 7.34 5.59 2.58 5.73 15.62 18.42 10.78 6.44 6.62 11.72 11.93 10.92 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 6.50 4.67 8.92 6.65 5.00 6.48 7.25 8.15 5.23 4.83 4.99 4.98 5.18 Effective Interest Rate on Debt %
33.74 31.73 37.09 34.78 33.30 35.38 37.24 36.34 26.52 28.74 31.83 32.27 29.14 31.30 36.89 38.28 38.28 Gross Margin %
3.87 0.44 6.46 7.56 8.90 11.22 13.12 11.74 1.39 5.22 7.31 4.51 4.30 7.17 10.16 12.92 12.92 Operating Margin %
4.31 6.16 4.92 5.55 6.08 6.94 7.44 7.06 0.48 2.57 4.85 1.81 2.11 4.78 7.67 9.26 9.26 Net Margin %
5.89 2.63 5.06 20.49 17.53 16.70 5.49 5.71 -1.86 -0.51 -2.33 -13.55 -18.78 -16.76 -18.07 -15.58 -15.58 FCF Margin %
-- -- -- 0.09 0.11 1.20 0.70 0.62 0.54 0.38 0.48 1.07 1.26 1.81 1.98 1.95 1.95 Debt to Equity
0.62 0.62 0.68 0.63 0.56 0.29 0.30 0.21 0.19 0.25 0.26 0.22 0.20 0.19 0.20 0.22 0.22 Total Equity to Total Asset
-- -- -- 0.05 0.06 0.35 0.21 0.13 0.10 0.09 0.13 0.23 0.25 0.34 0.40 0.43 0.43 Total Debt to Total Asset
78.96 70.22 75.95 64.87 69.97 91.26 96.92 57.50 27.21 26.81 28.13 25.38 21.63 22.45 25.90 25.74 26.02 Gross Profit to Total Asset %
2.34 2.21 2.05 1.87 2.10 2.58 2.60 1.58 1.03 0.93 0.88 0.79 0.74 0.72 0.70 0.67 0.68 Asset Turnover
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 8.38 8.23 8.23 Days Sales Outstanding
54.77 49.75 54.64 48.49 40.24 31.30 59.92 15.57 11.90 12.70 19.61 20.15 18.25 16.34 20.62 19.79 19.79 Days Accounts Payable
-- -- -- -- 3.75 3.16 -- -- -- -- -- -- -- -- -- -- -- Days Inventory
-54.77 -49.75 -54.64 -48.49 -36.49 -28.14 -59.92 -15.57 -11.90 -12.70 -19.61 -20.15 -18.25 -16.34 -12.24 -11.56 -11.56 Cash Conversion Cycle
-- -- -- -- 97.40 115 -- -- -- -- -- -- -- -- -- -- -- Inventory Turnover
0.66 0.68 0.63 0.65 0.67 0.65 0.63 0.64 0.73 0.71 0.68 0.68 0.71 0.69 0.63 0.62 0.62 COGS to Revenue
-- -- -- -- 0.01 0.01 -- -- -- -- -- -- -- -- -- -- -- Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NFLX 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
501 682 997 1,205 1,365 1,670 2,163 3,205 3,609 4,375 5,505 6,780 8,831 11,693 15,794 20,156 20,156 Revenue
332 466 627 786 910 1,079 1,357 2,040 2,652 3,117 3,753 4,591 6,257 8,033 9,968 12,440 12,440 Cost of Goods Sold
169 216 370 419 454 591 805 1,165 957 1,257 1,752 2,188 2,573 3,660 5,827 7,716 7,716 Gross Profit
33.74 31.73 37.09 34.78 33.30 35.38 37.24 36.34 26.52 28.74 31.83 32.27 29.14 31.30 36.89 38.28 38.28 Gross Margin %
123 180 262 271 249 289 358 530 578 650 877 1,231 1,413 1,867 3,000 3,567 3,567 Selling, General, & Admin. Expense
29.47 35.39 48.38 71.40 89.87 115 163 259 329 379 472 651 780 954 1,222 1,545 1,545 Research & Development
-2.56 -1.99 -4.80 -14.20 -6.33 0.00 -- -0.00 0.00 -0.00 -0.00 -0.00 -0.00 0.00 -0.00 0.00 0.00 Other Operating Expense
19.35 2.99 64.41 91.16 122 187 284 376 49.99 228 403 306 380 839 1,605 2,604 2,604 Operating Income
3.87 0.44 6.46 7.56 8.90 11.22 13.12 11.74 1.39 5.22 7.31 4.51 4.30 7.17 10.16 12.92 12.92 Operating Margin %
-- -- -- -- 12.45 6.73 3.68 3.48 0.47 -3.00 -3.06 -31.23 30.83 -115 41.73 84.00 84.00 Interest Income
-- -- -- -- -2.46 -6.48 -19.63 -20.03 -19.99 -29.14 -50.22 -133 -150 -238 -420 -626 -626 Interest Expense
-- -- -- -- 9.99 0.25 -15.95 -16.55 -19.51 -32.14 -53.28 -164 -119 -353 -379 -542 -542 Net Interest Income
2.42 5.35 15.90 20.34 -- 4.56 -- -- 0.00 -25.13 -- -- -- 0.00 -- 0.00 -0.00 Other Income (Expense)
21.78 8.34 80.32 112 132 192 268 360 30.48 171 349 142 261 485 1,226 2,062 2,062 Pre-Tax Income
-0.18 33.69 -31.24 -44.55 -48.47 -76.33 -107 -133 -13.33 -58.67 -82.57 -19.24 -73.83 73.61 -15.22 -195 -195 Tax Provision
0.83 -404 38.89 39.95 36.86 39.72 39.91 37.10 43.73 34.30 23.63 13.56 28.34 -15.17 1.24 9.47 9.47 Tax Rate %
21.60 42.03 49.08 66.95 83.03 116 161 226 17.15 112 267 123 187 559 1,211 1,867 1,867 Net Income (Continuing Operations)
21.60 42.03 49.08 66.95 83.03 116 161 226 17.15 112 267 123 187 559 1,211 1,867 1,867 Net Income
4.31 6.16 4.92 5.55 6.08 6.94 7.44 7.06 0.48 2.57 4.85 1.81 2.11 4.78 7.67 9.26 9.26 Net Margin %
0.06 0.11 0.11 0.14 0.19 0.29 0.44 0.61 0.04 0.28 0.63 0.29 0.44 1.29 2.78 4.26 4.27 EPS (Basic)
0.05 0.09 0.10 0.14 0.19 0.28 0.42 0.59 0.04 0.26 0.62 0.28 0.43 1.25 2.68 4.13 4.13 EPS (Diluted)
453 459 484 482 440 409 380 381 412 425 432 436 439 447 451 452 451 Shares Outstanding (Diluted
Average)
88.20 107 157 225 242 38.04 339 840 1,702 2,242 2,782 3,547 4,925 6,270 7,615 9,320 9,320 Depreciation, Depletion and
Amortization
108 110 222 316 376 237 626 1,219 1,753 2,442 3,181 3,822 5,336 6,993 9,262 12,008 12,008 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NFLX 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
174 212 400 177 140 134 194 508 290 605 1,114 1,809 1,468 2,823 3,794 5,018 5,018 Cash And Cash Equivalents
-- -- -- 208 157 186 156 290 458 595 495 501 266 -- -- -- -- Marketable Securities
174 212 400 385 297 320 350 798 748 1,200 1,608 2,311 1,734 2,823 3,794 5,018 5,018 Cash, Cash Equivalents, Marketable
Securities
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 363 454 454 Accounts Receivable
-- -- -- -- 18.69 -- -- -- -- -- -- -- -- -- -- -- -- Inventories, Other
-- -- -- -- 18.69 -- -- -- -- -- -- -- -- -- -- -- -- Total Inventories
12.89 31.44 27.99 31.39 42.96 90.77 287 1,033 1,493 1,858 2,319 3,121 3,987 4,847 5,330 181 181 Other Current Assets
187 244 428 417 359 411 637 1,831 2,241 3,059 3,927 5,432 5,720 7,670 9,694 6,179 6,179 Total Current Assets
-- -- -- -- -- -- -- -- -- -- -- -- -- -- 6.13 6.13 6.13 Land And Improvements
2.48 2.87 14.39 18.44 40.68 40.68 40.68 40.68 40.68 40.68 40.68 40.68 40.68 40.68 73.47 33.14 33.14 Buildings And Improvements
25.13 43.43 58.09 84.61 146 175 171 220 242 117 115 119 102 139 181 243 243 Machinery, Furniture, Equipment
4.50 13.27 11.48 18.45 3.96 15.10 16.88 0.82 8.28 8.64 12.50 8.85 108 8.27 19.55 101 101 Construction In Progress
42.21 72.62 101 144 224 266 265 306 336 357 415 471 545 641 787 981 981 Gross Property, Plant and Equipment
-23.48 -32.41 -45.34 -66.23 -98.84 -134 -137 -170 -204 -224 -265 -297 -294 -322 -369 -416 -416 Accumulated Depreciation
18.73 40.21 55.50 77.33 125 132 129 136 132 134 150 173 250 319 418 565 565 Property, Plant and Equipment
0.96 57.49 105 132 98.55 -- -- 1,047 1,506 2,091 2,773 4,313 7,275 10,371 14,951 24,505 24,505 Intangible Assets
44.76 23.29 19.95 57.18 33.00 137 216 55.05 89.41 129 192 285 341 652 911 2,727 2,727 Other Long Term Assets
252 365 609 683 615 680 982 3,069 3,968 5,413 7,043 10,203 13,587 19,013 25,974 33,976 33,976 Total Assets
49.78 63.49 93.86 104 100 92.54 223 86.99 86.47 108 202 253 313 360 563 674 674 Accounts Payable
62.91 89.05 124 141 132 120 247 141 140 162 271 394 510 675 1,045 1,517 1,517 Accounts Payable & Accrued
Expense
0.07 -- -- 0.82 1.15 1.41 2.08 -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term Debt
31.94 48.53 69.68 71.67 83.13 100 127 149 169 216 275 347 443 619 761 925 925 Current Deferred Revenue
31.94 48.53 69.68 71.67 83.13 100 127 149 169 216 275 347 443 619 761 925 925 DeferredTaxAndRevenue
-- -- -- -- -- 6.43 12.43 935 1,367 1,776 2,117 2,789 3,633 4,173 4,682 4,414 4,414 Other Current Liabilities
94.91 138 193 213 216 227 389 1,225 1,676 2,154 2,663 3,530 4,587 5,466 6,487 6,856 6,856 Total Current Liabilities
-- -- -- -- -- 200 200 400 400 500 886 2,371 3,364 6,499 10,360 14,759 14,759 Long-Term Debt
-- -- -- 35.65 37.99 36.57 -- -- -- -- -- -- -- -- -- -- -- Capital Lease Obligation
-- -- -- 35.65 37.99 237 200 400 400 500 886 2,371 3,364 6,499 10,360 14,759 14,759 Long-Term Debt & Capital Lease
Obligation
-- -- -- 0.09 0.11 1.20 0.70 0.62 0.54 0.38 0.48 1.07 1.26 1.81 1.98 1.95 1.95 Debt to Equity
0.60 0.84 1.12 4.63 14.26 16.58 103 801 1,147 1,425 1,636 2,078 2,956 3,465 3,888 4,779 4,779 Other Long-Term Liabilities
95.51 138 195 254 268 481 692 2,426 3,223 4,079 5,185 7,979 10,907 15,431 20,736 26,394 26,394 Total Liabilities
0.05 0.06 0.07 0.07 0.06 0.05 0.05 0.06 0.06 0.06 1,043 1,325 1,600 1,871 2,316 2,794 2,794 Common Stock
-132 -89.67 -40.59 25.43 108 199 238 423 440 552 819 942 1,129 1,731 2,942 4,812 Retained Earnings
4,812
-4.92 -- -- 1.61 0.08 0.27 0.75 0.71 2.92 3.58 -4.45 -43.31 -48.57 -20.56 -19.58 -23.52 -23.52 Accumulated other comprehensive
income (loss)
293 316 455 403 339 -- 51.62 219 302 777 -- -- -- -- -- -- -- Additional Paid-In Capital
-- -- -- -- -100 -- -- -- -- -- -- -- -- -- -- -- -- Treasury Stock
156 226 414 430 347 199 290 643 745 1,334 1,858 2,223 2,680 3,582 5,239 7,582 7,582 Total Equity
0.62 0.62 0.68 0.63 0.56 0.29 0.30 0.21 0.19 0.25 0.26 0.22 0.20 0.19 0.20 0.22 0.22 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NFLX 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
21.60 42.03 49.08 66.95 83.03 116 161 226 17.15 112 267 123 187 559 1,211 1,867 1,867 Net Income
-- -- -- -- -- -- -- -- -- -- -- -- -- 141 -73.95 -45.58 -45.58 Net Foreign Currency Exchange
Gain
21.60 42.03 49.08 66.95 83.03 116 161 226 17.15 112 267 123 187 559 1,211 1,867 1,867 Net Income From Continuing
Operations
88.20 107 157 225 242 38.04 339 840 1,702 2,242 2,782 3,547 4,925 6,270 7,615 9,320 9,320 Depreciation, Depletion and
Amortization
-9.13 -4.88 -7.06 -4.30 -4.18 -5.64 -35.48 6.21 -3.92 -- -- -- -- -- -- -- -- Change In Prepaid Assets
15.00 8.25 3.21 -1.22 5.29 11.98 84.91 89.53 4.86 20.32 139 100 101 189 350 254 254 Change In Payables And Accrued
Expense
21.52 32.63 35.13 30.00 -26.59 18.57 227 1,580 787 775 730 1,335 1,965 959 1,294 -651 -651 Change In Working Capital
-- -34.91 16.15 -0.66 -5.91 6.33 -0.96 -18.60 -30.07 -22.04 -30.06 -58.66 -46.85 -209 -85.52 -94.44 -94.44 Change In DeferredTax
-- -- -- -- 12.26 12.62 28.00 61.58 73.95 73.10 115 125 174 182 321 405 405 Stock Based Compensation
13.95 10.75 -9.63 -29.45 -20.97 134 -478 -2,371 -2,528 -3,082 -3,847 -5,821 -8,678 -9,547 -13,036 -13,734 -13,734 Cash Flow from Others
145 158 248 292 284 325 276 318 21.59 97.83 16.48 -749 -1,474 -1,786 -2,680 -2,887 -2,887 Cash Flow from Operations
-116 -140 -197 -44.81 -43.79 -45.93 -33.84 -49.68 -40.28 -54.14 -69.73 -91.25 -108 -173 -174 -253 -253 Purchase Of Property, Plant,
Equipment
5.62 5.78 12.91 21.66 -- 11.16 12.92 -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -6.00 -- -- -- -- -- -- -- -- -- -- -- -- Purchase Of Business
-- -- -- -- 18.37 7.48 -- -- -- -- -- -- -- -- -- -- -- Sale Of Business
-0.59 -- -- -405 -257 -228 -107 -224 -477 -550 -427 -372 -187 -74.82 -- -- -- Purchase Of Investment
45.01 -- -- 201 307 202 137 89.10 312 408 527 364 423 343 -- -- -- Sale Of Investment
-- -- -- -- -1.06 -0.20 -124 -85.15 -48.28 -65.93 -74.79 -77.96 -77.18 -53.72 -38.59 -- -29.11 Net Intangibles Purchase And Sale
-0.49 0.55 -1.33 -223 -163 -193 -0.58 3.67 8.82 5.94 1.33 -1.91 -0.94 -6.69 -127 -134 -112 Cash From Other Investing Activities
-66.26 -133 -186 -451 -145 -246 -116 -266 -245 -256 -42.87 -179 49.77 34.33 -339 -387 -387 Cash Flow from Investing
6.04 13.39 113 9.61 18.87 35.27 49.78 220 3.66 125 60.54 77.98 36.98 88.38 125 72.49 72.49 Issuance of Stock
-- -- -- -99.86 -200 -324 -210 -200 -- -- -- -- -- -- -- -- -- Repurchase of Stock
-0.44 -0.08 -- -- -0.82 192 -1.78 196 -2.32 279 400 1,500 1,000 3,021 3,962 4,469 2,243 Net Issuance of Debt
0.18 -- 13.22 26.25 5.22 12.68 62.21 45.78 4.25 72.25 81.17 62.30 54.65 -31.90 -37.83 -36.13 2,190 Other Financing
5.78 13.31 126 -64.00 -177 -84.64 -100 262 5.59 476 542 1,640 1,092 3,077 4,049 4,506 4,506 Cash Flow from Financing
84.57 37.80 188 -223 -37.56 -5.66 60.28 314 -218 315 509 696 -342 1,355 989 1,232 1,232 Net Change in Cash
-116 -140 -197 -44.81 -44.85 -46.13 -158 -135 -88.55 -120 -145 -169 -185 -173 -174 -253 -253 Capital Expenditure
29.46 17.93 50.42 247 239 279 119 183 -66.97 -22.24 -128 -919 -1,659 -1,959 -2,854 -3,140 -3,140 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NFLX 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
41.07 44.41 36.38 27.71 22.47 27.82 59.36 16.27 319 199 79.26 409 295 154 99.87 78.35 89.65 PE Ratio(TTM)
-- -- 12.02 8.41 9.62 45.76 14.61 1.50 2.28 7.48 5.80 10.38 7.90 11.58 12.22 14.22 16.26 Price to Owner Earnings
(TTM)
4.16 6.56 4.28 4.02 5.07 14.79 31.97 5.97 6.91 16.46 11.11 22.01 19.87 23.23 22.31 18.73 21.43 Price to Book
4.18 8.80 5.73 5.81 7.08 14.79 31.97 -- -- -- -- -- -- -- -- -- -- Price to Tangible Book
21.20 78.98 35.48 7.27 7.72 11.46 61.52 18.33 -- -- -- -- -- -- -- -- -- Price-to-Free-Cash-Flow
Ratio
5.18 10.87 7.22 6.26 6.60 9.84 34.57 11.86 241 230 1,284 -- -- -- -- -- -- Price-to-Operating-Cash-
Flow Ratio
1.51 2.48 1.79 1.52 1.37 1.92 4.41 1.18 1.49 5.12 3.83 7.37 6.15 7.34 7.65 7.25 8.30 PS Ratio
-- -- -- 0.52 0.52 0.70 1.58 0.41 6.38 3.62 1.53 11.21 10.34 5.38 3.39 2.54 3.06 PEG Ratio
0.95 1.86 1.38 1.14 1.10 1.71 4.22 1.07 1.33 4.86 3.62 7.23 6.21 7.43 7.81 7.53 8.53 EV-to-Revenue
4.42 11.56 6.20 4.36 4.02 7.42 14.58 2.82 2.74 8.70 6.26 12.82 10.28 12.42 13.33 12.64 14.34 EV-to-EBITDA
24.56 425 21.43 15.12 11.41 14.40 31.76 9.07 95.11 106 49.84 178 134 120 74.94 56.44 64.07 EV-to-EBIT
4.07 0.24 4.67 6.61 8.76 6.94 3.15 11.03 1.05 0.94 2.01 0.56 0.75 0.83 1.33 1.77 1.55 Return on Capital %
-- -- -- 24.21 25.96 24.22 21.76 24.85 23.15 20.59 20.25 19.68 19.03 18.93 18.80 18.60 18.81 Forward Rate of Return
-- -- -- -- -- -- -- 57.18 64.96 226 169 371 359 414 372 291 333 Shiller PE Ratio
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
650 1,483 1,772 1,727 1,759 2,944 9,274 3,839 5,148 21,947 20,638 48,948 53,241 83,194 116,860 141,985 162,473 Market Cap
475 1,271 1,372 1,378 1,501 2,862 9,125 3,441 4,800 21,247 19,915 49,008 54,871 86,871 123,426 151,726 172,213 Enterprise Value
1.76 3.87 3.69 3.80 4.27 7.87 25.10 9.90 13.23 52.60 48.80 114 124 192 268 324 370 Month End Stock Price
0.21 0.19 0.43 0.29 0.07 -0.43 -0.92 -4.20 -6.36 -6.90 -8.46 -13.25 -21.33 -29.09 -38.80 -48.71 -48.71 Net Cash (per share)
0.25 0.27 0.49 0.36 0.22 -0.19 -0.15 -1.54 -2.52 -2.45 -2.97 -5.95 -12.06 -17.91 -25.29 -46.07 -46.07 Net Current Asset Value
(per share)
0.21 0.19 0.43 0.29 0.09 -0.43 -0.92 -4.20 -6.36 -6.90 -8.46 -13.25 -21.33 -29.09 -38.18 -47.94 -47.94 Net-Net Working Capital
(per share)
-- -- -- 2.76 4.23 5.92 7.07 8.83 7.78 7.04 5.85 -0.32 -9.71 -19.88 -32.12 -45.06 -45.06 Projected FCF (per share)
-- -- -- -- -- -- -- -- 17.24 20.99 27.70 37.02 69.75 120 186 263 263 Median PS (per share)
-- -- -- 3.43 4.75 7.07 10.57 15.21 1.04 6.61 15.39 7.00 10.50 31.25 67.00 103 103 Peter Lynch Fair Value (per
share)
0.67 0.95 1.21 1.43 1.60 1.84 2.73 -- -- -- -- -- -- -- -- -- -- Graham Number (per share)
-- -- -0.70 -0.07 0.66 1.87 2.79 6.01 7.42 10.04 12.14 11.05 8.44 0.85 3.37 2.22 2.22 Earnings Power Value
(EPV)
6.10 8.38 7.91 6.79 7.39 7.83 11.85 2.83 2.24 4.50 3.74 4.79 3.89 4.24 4.51 4.26 4.83 Altman Z-Score
6.00 5.00 7.00 4.00 6.00 8.00 8.00 5.00 4.00 6.00 5.00 3.00 2.00 4.00 4.00 3.00 3.00 Piotroski F-Score
-3.73 -3.52 -3.69 -3.78 -3.98 -3.76 -2.79 -1.90 -2.13 -2.26 -2.15 -1.93 -1.47 -1.66 -1.57 -1.47 -1.47 Beneish M-Score
-0.10 0.06 0.04 0.13 0.13 0.19 0.21 0.25 0.13 0.16 0.21 0.32 0.42 0.53 0.62 0.67 0.56 Scaled Net Operating
Assets
-22.80 4.87 -2.12 33.06 -9.11 5.43 0.05 5.68 6.06 5.00 4.16 10.30 11.86 12.15 16.29 15.13 15.13 Sloan Ratio (%)
1.97 1.77 2.21 1.95 1.66 1.81 1.64 1.49 1.34 1.42 1.47 1.54 1.25 1.40 1.49 0.90 0.90 Current Ratio
1.97 1.77 2.21 1.95 1.58 1.81 1.64 1.49 1.34 1.42 1.47 1.54 1.25 1.40 1.49 0.90 0.90 Quick Ratio
5.55 4.30 4.53 4.10 5.81 8.73 29.41 42.68 18.46 54.37 69.20 131 128 203 419 385 394 Highest Stock Price
1.35 1.29 2.67 2.30 2.56 4.22 7.02 9.12 7.69 13.14 44.89 45.55 82.79 124 192 255 252 Lowest Stock Price
-3.70 -3.84 -25.31 5.39 9.32 9.21 1.23 -4.96 -0.34 -7.23 -1.36 -1.19 -0.49 -0.78 -0.74 -0.51 -0.51 Shares Buyback Ratio (%)
258 34.66 38.51 21.25 24.17 31.65 39.27 48.00 3.95 17.50 23.92 21.88 29.60 29.99 33.75 27.47 27.48 YoY Rev. per Sh. Growth
(%)
560 93.94 10.94 36.62 36.08 50.00 49.49 40.54 -93.03 528 138 -54.84 53.57 191 114 54.10 54.10 YoY EPS Growth (%)
276 1.27 90.83 43.01 30.53 -32.28 184 94.47 32.69 35.08 28.31 18.87 38.92 28.67 31.15 29.49 29.52 YoY EBITDA Growth (%)
-- -- -- 52.85 43.28 39.47 37.61 39.97 50.05 55.02 51.93 36.45 28.51 28.56 29.45 30.86 30.20 EBITDA 5-Y Growth (%)
364 375 438 470 427 396 368 370 389 407 421 426 429 432 435 438 439 Shares Outstanding (Basic
Average)
369 383 480 454 412 374 369 388 389 417 423 428 430 433 437 439 439 Shares Outstanding (EOP)
1.90 2.77 4.00 2.03 1.07 0.58 0.37 0.09 0.68 2.13 2.77 1.44 0.68 0.69 1.53 1.72 1.71 Beta
03/15/05 03/16/06 02/28/07 02/28/08 02/25/09 02/22/10 02/18/11 02/10/12 02/01/13 02/03/14 01/29/15 01/28/16 01/27/17 01/29/18 01/29/19 01/29/20 Filing Date
03/16/06 02/28/07 02/28/08 02/25/09 02/22/10 02/18/11 02/01/13 02/03/14 01/29/15 01/28/16 01/27/17 01/29/18 01/29/19 01/29/20 01/29/20 01/29/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NFLX 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/NFLX 7/7
Take-Two Interactive Software Inc (NAS:TTWO) 03/03/2020 2:30PM EST GuruFocus
Price: $ 111.04 -1.02(-0.91%) Market Cap: $ 12.59 B Enterprise Value: $10.79 B Stock PDF
Financial Strength : 7/10 Profitability & Growth : 5/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 37.40
Cash to Debt 11.31 Operating margin (%) 12.66
Forward P/E N/A
Equity to Asset 0.49 Net-margin (%) 11.81
PE(NRI) 37.40
Interest Coverage N/A ROE (%) 15.76
F-Score:
P/B 5.23
ROA (%) 7.46
6 P/S 4.43
Z-Score: ROC (Joel Greenblatt) (%) 196.64
4.60 PFCF 15.31
Revenue Growth (3Y)(%) 11.00
M-Score: POCF 14.32
-3.28 EBITDA Growth (3Y)(%) 17.80
EV-to-EBIT 26.82
WACC vs 4.57%
ROIC 51.46% Shiller P/E 301.01
WACC
ROIC Current Ratio 1.64
Quick Ratio 1.63
Days Inventory 8.08
Days Sales Outstanding 82.42
Warning Signs Quarterly Revenues Company Description
Insider Sell: Insider Selling Mar Jun Sep Dec Full Year Take-Two Interactive Software Inc was found in 1993 and it consists of two wholly owned labels, Rockstar Games and
2K. The firm is one of the world's largest independent video game publishers on consoles, PCs, smartphones, and
2016 377 312 420 476 1,585 tablets. Take-Two's franchise portfolio is headlined by "Grand Theft Auto" (220 million units sold) and contains other
2017 572 418 444 481 1,914 well-known titles such as "NBA 2K," "Civilization," "Borderlands," "Bioshock," and "Xcom".... (Read More)
Good Signs 2018 450 388 493 1,249
, , , ,
2,580 Competitors: TSE:3659 XKRX:036570 ASX:ALL XPAR:UBI NAS:BILI WAR:CDR NAS:ZNGA
, , ,
XKRX:251270, SZSE:002558, TSE:9684, TSE:9766, HKSE:03888, SHSE:603444, SZSE:300418, SZSE:002174,
Interest Coverage: 2019 539 540 858 930 2,867 TSE:6460, TSE:3635, OSTO:EMBRAC B, SZSE:300113, TSE:9697
Comfortable 2020
Insider Trades
PB Ratio: Close to 3-year low Quarterly Earnings per Share
Mar Jun Sep Dec Full Year
DCF 2016 0.48 -0.46 0.39 -0.33 0.08
2017 0.89 0.56 -0.03 0.21 1.63
GuruFocus does not 2018 0.77 0.62 0.22 1.57 3.18
calculate intrinsic value: DCF 2019 0.50 0.41 0.63 1.43 2.97
(Earnings Based) for 2020
companies with one star
predictability or not rated. But Quarterly Dividends Per Share
you can go to each stock's Mar Jun Sep Dec Full Year
DCF page to calculate 2016 0.00 0.00 0.00 0.00 0.00
yourself. 2017 0.00 0.00 0.00 0.00 0.00
2018 0.00 0.00 0.00 0.00 0.00
Reverse DCF 2019 0.00 0.00 0.00 0.00 0.00
2020
GuruFocus does not
calculate reverse DCF growth Growth Rate
rate for companies with one Annual Rates(per share) 10-Y 5-Y 12-M
star predictability or not rated.
But you can go to each Revenue Growth (%) 3.30 3.50 12.40
stock's DCF page to calculate EBITDA Growth (%) 0.00 0.00 32.10
yourself. Free Cash Flow Growth (%) 0.00 8.50 43.10
Book Value Growth (%) 7.70 18.80 18.20
EPS Growth (%) 0.00 0.00 -6.60
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TTWO 1/6
Per Share Data
Oct03 Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
15.95 16.44 16.95 14.62 13.66 20.25 12.61 14.12 9.91 14.19 20.64 13.48 16.95 19.28 15.90 23.16 25.06 Revenue per Share
3.49 2.74 2.05 -0.29 0.52 3.82 -0.01 2.98 0.95 2.96 6.13 -1.29 2.68 3.80 2.69 4.39 5.48 EBITDA per Share
2.52 1.42 0.54 -2.64 -1.51 1.52 -1.64 0.96 -1.01 0.06 3.65 -3.22 0.73 0.99 1.41 2.09 3.51 EBIT per Share
1.37 0.91 0.50 -2.60 -1.93 1.28 -1.80 0.56 -1.31 -0.34 3.20 -3.48 -0.10 0.72 1.54 2.90 2.97 Earnings per Share (diluted)
1.37 0.91 0.50 -2.60 -1.93 1.28 -1.80 0.62 -1.30 -0.36 3.20 -3.48 -0.10 0.72 1.54 2.90 2.97 eps without NRI
-1.45 -0.03 0.06 -0.25 -1.43 1.08 -3.46 0.61 -1.71 -0.83 5.77 1.43 1.69 2.55 2.88 3.76 4.23 Owner Earnings per Share (TTM)
1.01 -0.02 0.15 0.26 -1.19 1.73 -2.96 1.55 -1.15 -0.25 5.89 2.03 2.69 4.19 3.60 6.74 7.26 Free Cashflow per Share
8.05 9.33 9.71 7.57 6.34 7.92 6.18 7.15 6.60 6.27 9.02 6.37 6.72 9.78 13.06 18.19 21.19 Book Value per Share
5.84 6.79 6.02 3.96 2.70 3.81 2.28 2.72 2.73 2.75 5.18 2.45 1.67 1.49 3.04 8.76 13.35 Tangible Book per Share
-- -- -- -- 0.24 0.90 1.68 1.25 3.51 3.58 5.11 5.35 5.75 2.46 0.07 -- 1.55 Total Debt per Share
26.47 22.07 20.65 13.99 18.78 11.86 10.97 15.37 15.39 16.15 21.93 25.46 37.67 59.27 97.78 94.37 111 Month End Stock Price
Ratios
Oct03 Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
22.07 10.63 5.35 -29.91 -27.10 17.88 -24.60 8.08 -17.97 -4.98 46.13 -40.95 -1.45 8.33 13.91 18.92 15.76 Return on Equity %
16.37 7.52 3.76 -20.50 -16.28 10.14 -13.19 4.89 -10.26 -2.43 23.50 -13.88 -0.34 2.35 5.04 8.37 7.46 Return on Assets %
112 41.06 12.79 -74.32 -62.06 87.53 -81.16 56.26 -84.88 3.80 427 -460 82.30 126 187 209 197 Return on Capital %
32.38 15.86 6.08 -37.65 -28.27 25.53 -25.21 13.26 -18.72 1.24 94.95 -205 -- -- -- 107 51.46 Return on Invested Capital %
11.68 4.80 12.27 6.51 11.58 12.30 11.98 12.94 11.00 12.39 10.23 5.74 5.66 7.95 12.33 9.23 4.57 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- -- 7.76 7.44 12.44 9.24 9.44 8.61 6.45 6.02 5.79 17.13 199 -- Effective Interest Rate on Debt %
38.32 33.52 34.54 20.46 25.13 35.70 25.88 39.36 35.96 41.06 39.83 26.60 42.43 42.52 49.90 42.90 50.98 Gross Margin %
15.77 8.63 3.16 -18.03 -11.06 7.83 -11.92 6.79 -10.20 0.43 17.67 -23.87 4.28 5.13 8.38 7.56 12.66 Operating Margin %
9.49 5.51 2.94 -17.81 -14.10 6.32 -14.24 4.26 -13.18 -2.43 15.38 -25.81 -0.59 3.78 9.68 12.51 11.81 Net Margin %
6.30 -0.10 0.91 1.76 -8.72 8.56 -23.46 11.01 -11.59 -1.76 28.52 15.08 15.85 21.73 22.65 29.10 29.13 FCF Margin %
-- -- -- -- 0.04 0.11 0.27 0.17 0.53 0.57 0.57 0.84 0.86 0.25 0.01 -- 0.07 Debt to Equity
0.75 0.67 0.73 0.63 0.57 0.57 0.50 0.63 0.52 0.46 0.45 0.25 0.22 0.32 0.40 0.48 0.49 Total Equity to Total Asset
-- -- -- -- 0.02 0.07 0.14 0.11 0.28 0.26 0.25 0.21 0.19 0.08 0.00 -- 0.04 Total Debt to Total Asset
66.09 45.76 44.12 23.54 29.03 57.33 23.96 45.20 28.00 41.09 60.84 14.30 24.90 26.37 25.98 28.69 32.21 Gross Profit to Total Asset %
1.73 1.37 1.28 1.15 1.16 1.61 0.93 1.15 0.78 1.00 1.53 0.54 0.59 0.62 0.52 0.67 0.63 Asset Turnover
58.80 92.47 60.12 50.36 39.01 37.38 75.15 27.04 19.90 56.98 8.25 73.43 43.51 45.03 50.42 54.13 82.42 Days Sales Outstanding
60.78 79.83 61.90 54.81 63.95 57.65 87.95 29.73 32.22 40.76 4.25 17.81 13.66 11.38 14.23 17.44 21.42 Days Accounts Payable
50.42 62.34 67.43 51.24 48.38 37.58 50.40 31.39 16.24 13.43 7.74 11.44 8.06 5.75 6.40 5.19 8.08 Days Inventory
48.44 74.98 65.65 46.79 23.44 17.31 37.60 28.70 3.92 29.65 11.74 67.06 37.91 39.40 42.59 41.88 69.08 Cash Conversion Cycle
7.24 5.85 5.41 7.12 7.54 9.71 7.24 11.63 22.48 27.17 47.15 31.90 45.29 63.52 57.06 70.28 45.19 Inventory Turnover
0.62 0.66 0.65 0.80 0.75 0.64 0.74 0.61 0.64 0.59 0.60 0.73 0.58 0.57 0.50 0.57 0.49 COGS to Revenue
0.09 0.11 0.12 0.11 0.10 0.07 0.10 0.05 0.03 0.02 0.01 0.02 0.01 0.01 0.01 0.01 0.01 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TTWO 2/6
Income Statement
Oct03 Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
1,034 1,128 1,201 1,038 982 1,538 968 1,137 826 1,214 2,351 1,083 1,414 1,780 1,793 2,668 2,867 Revenue
638 750 786 825 735 989 718 689 529 716 1,414 795 814 1,023 898 1,524 1,406 Cost of Goods Sold
396 378 415 212 247 549 251 447 297 499 936 288 600 757 895 1,145 1,462 Gross Profit
38.32 33.52 34.54 20.46 25.13 35.70 25.88 39.36 35.96 41.06 39.83 26.60 42.43 42.52 49.90 42.90 50.98 Gross Margin %
191 220 281 293 279 339 284 286 305 405 402 410 391 497 504 673 768 Selling, General, & Admin. Expense
25.11 43.77 73.72 64.26 48.46 63.93 63.75 69.58 64.16 78.18 105 115 120 138 196 230 284 Research & Development
16.92 16.85 22.02 42.01 27.45 25.76 18.62 15.00 12.12 10.63 13.36 21.06 28.80 30.71 43.97 40.23 46.69 Other Operating Expense
163 97.27 38.02 -187 -109 120 -115 77.14 -84.27 5.24 415 -258 60.46 91.31 150 202 363 Operating Income
15.77 8.63 3.16 -18.03 -11.06 7.83 -11.92 6.79 -10.20 0.43 17.67 -23.87 4.28 5.13 8.38 7.56 12.66 Operating Margin %
-- -- -- -- -- 4.11 0.65 -- -- -- -- -- -- -- 21.26 38.02 -- Interest Income
-- -- -- -- -- -3.41 -7.74 -15.25 -19.57 -30.76 -33.96 -29.90 -29.24 -21.70 -22.27 -8.03 -- Interest Expense
-- -- -- -- -- 0.70 -7.09 -15.25 -20.62 -30.76 -33.96 -29.90 -29.24 -21.70 -1.01 29.99 40.76 Net Interest Income
2.30 -5.53 3.70 2.68 -19.63 -8.88 -10.86 1.73 1.05 -0.59 -5.14 15.48 -69.57 7.36 -12.69 1.08 -5.56 Other Income (Expense)
165 91.74 41.72 -184 -128 112 -133 63.62 -104 -26.11 376 -273 -38.35 76.97 137 233 398 Pre-Tax Income
-67.20 -29.63 -6.41 -0.41 -10.19 -15.05 -4.52 -9.82 -3.86 -5.05 -14.46 -6.59 30.05 -9.66 36.91 101 -59.77 Tax Provision
40.65 32.29 15.35 -0.22 -7.95 13.42 -3.39 15.43 -3.72 -19.34 3.84 -2.41 78.35 12.55 -27.01 -43.41 15.00 Tax Rate %
98.12 62.12 35.31 -185 -138 97.10 -138 53.80 -108 -31.16 362 -279 -8.30 67.30 174 334 339 Net Income (Continuing Operations)
-- -- -- -- -- -- -- -5.35 -1.12 1.67 -0.09 -- -- -- -- -- -- Net Income (Discontinued
Operations)
98.12 62.12 35.31 -185 -138 97.10 -138 48.46 -109 -29.49 362 -279 -8.30 67.30 174 334 339 Net Income
9.49 5.51 2.94 -17.81 -14.10 6.32 -14.24 4.26 -13.18 -2.43 15.38 -25.81 -0.59 3.78 9.68 12.51 11.81 Net Margin %
1.41 0.93 0.51 -2.60 -1.93 1.29 -1.80 0.56 -1.31 -0.34 3.79 -3.48 -0.10 0.73 1.57 2.95 2.98 EPS (Basic)
1.37 0.91 0.50 -2.60 -1.93 1.28 -1.80 0.56 -1.31 -0.34 3.20 -3.48 -0.10 0.72 1.54 2.90 2.97 EPS (Diluted)
64.81 68.59 70.88 71.01 71.86 75.94 76.82 80.52 83.36 85.58 114 80.37 83.42 92.33 113 115 114 Shares Outstanding (Diluted
Average)
63.16 90.33 107 166 146 174 125 163 164 248 282 155 163 259 145 265 225 Depreciation, Depletion and
Amortization
226 188 145 -20.79 37.38 290 -1.05 240 79.54 254 698 -104 224 351 304 506 627 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TTWO 3/6
Balance Sheet
Oct03 Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
183 155 107 132 77.76 280 102 280 420 403 935 911 799 943 809 827 1,285 Cash And Cash Equivalents
-- -- -- -- -- -- -- -- -- -- -- 187 471 449 615 744 699 Marketable Securities
183 155 107 132 77.76 280 102 280 420 403 935 1,098 1,270 1,392 1,424 1,571 1,984 Cash, Cash Equivalents, Marketable
Securities
167 286 198 143 105 157 199 84.22 45.04 190 53.14 218 169 220 248 396 647 Accounts Receivable
-- -- -- 7.18 -- 8.10 10.36 3.04 2.40 2.19 1.36 2.82 1.57 0.79 1.22 3.35 1.20 Inventories, Raw Materials &
Components
96.96 147 129 88.34 91.51 96.14 83.64 21.54 20.08 28.03 28.42 17.23 14.32 15.53 13.94 24.85 23.23 Inventories, Finished Goods
4.79 7.15 7.47 -0.00 7.82 -- -- -- -- -- -- -- -- -- 0.00 -0.00 -0.00 Inventories, Other
102 154 136 95.52 99.33 104 94.00 24.58 22.48 30.22 29.78 20.05 15.89 16.32 15.16 28.20 24.43 Total Inventories
61.48 120 172 174 216 182 233 177 256 244 381 444 591 567 722 833 779 Other Current Assets
513 715 613 545 499 724 628 567 744 866 1,399 1,780 2,045 2,195 2,409 2,828 3,435 Total Current Assets
6.45 10.91 19.03 20.64 25.52 -- -- -- -- -- -- -- -- -- -- -- -- Buildings And Improvements
32.75 43.67 43.17 38.65 47.48 63.85 74.35 79.03 86.17 78.77 105 147 128 132 158 198 -- Machinery, Furniture, Equipment
-- 3.92 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Construction In Progress
39.19 58.50 89.01 85.73 96.83 86.23 98.54 104 114 110 139 183 176 189 246 298 280 Gross Property, Plant and Equipment
-16.93 -24.21 -40.39 -38.24 -51.85 -53.87 -71.14 -84.13 -94.82 -84.75 -96.80 -113 -99.00 -121 -144 -170 -- Accumulated Depreciation
22.26 34.29 48.62 47.50 44.99 32.36 27.39 19.63 18.95 25.36 42.57 69.79 77.13 67.30 102 128 280 Property, Plant and Equipment
146 173 260 262 271 319 320 381 349 330 341 346 437 851 1,143 1,058 889 Intangible Assets
-- -- 180 188 205 231 221 225 228 226 227 217 217 359 400 382 392 Goodwill
25.46 23.22 13.31 14.15 17.06 8.29 33.33 4.10 37.67 56.26 16.29 32.04 31.35 35.32 83.61 229 275 Other Long Term Assets
707 945 935 869 831 1,083 1,009 972 1,149 1,278 1,800 2,228 2,590 3,149 3,738 4,243 4,880 Total Assets
106 164 133 124 129 156 173 56.15 46.68 79.93 16.45 38.79 30.45 31.89 35.03 72.80 82.49 Accounts Payable
-- -- -- -- -- 13.26 41.67 12.48 38.49 57.21 21.95 -- -- -- -- -- -- Total Tax Payable
163 290 205 241 183 309 348 187 164 244 339 392 558 648 771 950 1,022 Accounts Payable & Accrued
Expense
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 24.11 Current Portion of Long-Term Debt
-- -- 6.41 11.32 36.54 56.16 6.33 13.43 13.86 26.92 61.20 483 582 903 777 843 842 Current Deferred Revenue
-- -- -- -- 5.84 -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- 6.41 11.32 42.39 56.16 6.33 20.94 20.77 37.87 61.20 483 582 928 802 843 842 DeferredTaxAndRevenue
2.26 17.32 35.35 11.23 86.69 -- -- 22.54 34.23 55.54 74.84 91.10 79.90 110 154 158 208 Other Current Liabilities
165 307 247 264 312 365 354 231 219 337 475 966 1,220 1,686 1,727 1,952 2,096 Total Current Liabilities
-- -- -- -- 18.00 70.00 138 107 316 335 454 473 498 252 8.07 -- -- Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 151 Capital Lease Obligation
-- -- -- -- 18.00 70.00 138 107 316 335 454 473 498 252 8.07 -- 151 Long-Term Debt & Capital Lease
Obligation
-- -- -- -- 0.04 0.11 0.27 0.17 0.53 0.57 0.57 0.84 0.86 0.25 0.01 -- 0.07 Debt to Equity
8.49 -- -- -- -- 26.40 10.15 2.96 -- -- 18.13 165 216 10.41 356 21.06 32.96 NonCurrent Deferred Liabilities
0.00 2.96 2.47 54.87 29.83 6.42 0.00 15.29 18.64 17.64 50.84 61.08 74.23 197 158 230 197 Other Long-Term Liabilities
174 310 249 318 360 468 502 356 554 690 998 1,665 2,009 2,145 2,249 2,202 2,478 Total Liabilities
0.44 0.68 0.71 0.73 0.74 0.78 0.82 0.86 0.90 0.94 1.05 1.05 1.04 1.20 1.33 1.35 1.36 Common Stock
185 250 246 60.66 -77.75 18.28 -120 -103 -211 -241 121 -159 -167 -99.69 73.52 878 1,159 Retained Earnings
-2.83 2.46 -11.90 6.90 34.86 -7.51 8.19 10.46 6.73 -4.57 2.12 -30.62 -37.90 -47.14 -15.73 -37.19 -38.49 Accumulated other comprehensive
income (loss)
351 382 451 482 513 604 617 706 799 832 955 1,028 1,089 1,453 1,888 2,019 2,100 Additional Paid-In Capital
-- -- -- -- -- -- -- -- -- -- -277 -277 -303 -303 -458 -821 -821 Treasury Stock
533 635 686 550 471 615 506 615 596 588 802 563 581 1,004 1,489 2,041 2,402 Total Equity
0.75 0.67 0.73 0.63 0.57 0.57 0.50 0.63 0.52 0.46 0.45 0.25 0.22 0.32 0.40 0.48 0.49 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TTWO 4/6
Cashflow Statement
Oct03 Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
98.12 62.12 35.31 -185 -138 97.10 -138 53.80 -108 -31.16 362 -279 -8.30 67.30 174 334 339 Net Income
-- -- -- -- -- 6.69 -3.45 -- -- -- -- -- -- -- -- -- -- Net Foreign Currency Exchange
Gain
98.12 62.12 35.31 -185 -138 97.10 -138 53.80 -108 -31.16 362 -279 -8.30 67.30 174 334 339 Net Income From Continuing
Operations
63.16 90.33 107 166 146 174 125 163 164 248 282 155 163 259 145 265 225 Depreciation, Depletion and
Amortization
-186 -124 82.68 37.87 39.16 -52.42 -41.94 -10.08 39.18 -145 136 -165 49.35 -41.96 -27.00 -98.08 178 Change In Receivables
-25.15 -50.53 18.10 40.71 -10.20 -4.90 10.24 -0.10 2.10 -7.74 0.44 9.73 3.81 -4.94 3.92 -14.40 15.64 Change In Inventory
-7.42 -11.40 -8.94 -21.69 18.27 16.83 -0.52 16.94 -1.09 -14.67 -18.42 5.40 -12.27 -22.16 -74.54 -276 -348 Change In Prepaid Assets
20.15 62.28 -31.70 -7.37 26.60 36.39 9.31 41.22 -39.75 83.73 194 78.59 170 189 199 201 170 Change In Payables And Accrued
Expense
-252 -145 -120 -28.09 -90.03 -167 -238 -107 -187 -278 -31.74 262 11.52 -21.34 62.28 -114 -33.12 Change In Working Capital
13.04 -14.33 -5.91 17.36 -1.72 -0.39 3.43 -1.10 1.88 -0.84 -19.04 2.28 -0.27 3.02 -32.52 111 -- Change In DeferredTax
-- -- -- -- -- 40.39 25.93 28.77 33.49 35.77 78.12 65.25 70.00 81.88 116 248 246 Stock Based Compensation
158 27.38 23.52 72.61 20.14 6.69 -3.45 7.52 12.29 21.66 30.09 8.28 24.93 17.69 17.71 0.67 117 Cash Flow from Others
80.63 20.46 39.98 43.36 -64.05 151 -210 135 -84.96 -4.57 700 213 261 408 494 844 893 Cash Flow from Operations
-15.46 -21.59 -29.03 -25.08 -21.59 -12.28 -11.18 -9.65 -10.79 -16.82 -29.81 -49.50 -37.28 -21.17 -61.56 -66.97 -58.11 Purchase Of Property, Plant,
Equipment
-- -- -- -- -- -- -- -1.00 -4.10 -- -1.00 -- -- -131 -9.40 -28.15 -12.04 Purchase Of Business
-- -- -- -- -- 3.00 -- 3.08 -- -- -- -- -- -- -- -- -- Sale Of Business
-- -- -- -- -- -- -- -- -- -- -- -105 -151 -224 -416 -454 -612 Purchase Of Investment
-- -- -- -- -- -- -- -- -- -- -- 21.98 46.00 246 241 325 434 Sale Of Investment
-- -- -- -- -- -7.50 -5.81 -- 2.20 -- -- -- -- -- -25.97 -- -- Net Intangibles Purchase And Sale
-- -- -- -- -- -- -- -- -1.48 -- -- -- -- -- -- -- -- Cash From Discontinued Investing
Activities
-30.42 -42.84 -62.00 -0.19 -3.02 -0.00 -0.00 -- -0.00 -- -- -87.50 -183 0.00 0.00 0.00 -25.00 Cash From Other Investing Activities
-45.88 -64.42 -91.03 -25.28 -24.61 -16.78 -16.99 -7.58 -14.16 -16.82 -30.81 -220 -325 -129 -272 -224 -273 Cash Flow from Investing
44.87 16.68 31.22 2.81 9.50 25.96 -- -- -- -- -- -- -- -- -- -- -- Issuance of Stock
-- -- -24.93 -- -- -- -- -- -- -- -277 -- -26.55 -- -155 -362 -209 Repurchase of Stock
-- -- -- -- 18.00 -0.96 89.42 -- 250 -- 146 -- -- -- -- -- -- Net Issuance of Debt
-0.30 -0.37 -0.07 0.16 -1.81 52.00 -43.64 -- -6.64 -- -2.82 -- -21.50 -- -127 -101 -37.33 Other Financing
44.56 16.32 6.22 2.97 25.69 77.00 45.79 0.73 243 -- -134 0.93 -48.05 -49.77 -281 -464 -176 Cash Flow from Financing
75.11 -28.38 -47.90 25.29 -54.72 203 -178 135 140 -17.78 533 -24.28 -112 221 -34.84 146 447 Net Change in Cash
-15.46 -21.59 -29.03 -25.08 -21.59 -19.78 -16.99 -9.65 -10.79 -16.82 -29.81 -49.50 -37.28 -21.17 -87.52 -66.97 -58.11 Capital Expenditure
65.16 -1.13 10.95 18.28 -85.64 132 -227 125 -95.75 -21.39 670 163 224 387 406 777 835 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TTWO 5/6
Valuation Ratios
Oct03 Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
19.13 24.34 38.96 -- -- 9.64 -- 33.41 -- -- 10.06 -- -- 121 64.75 32.43 37.40 PE Ratio(TTM)
-- -- 350 -- -- 10.98 -- 25.07 -- -- 3.80 17.79 22.36 23.25 33.97 25.12 26.23 Price to Owner Earnings
(TTM)
3.29 2.37 2.13 1.85 2.96 1.50 1.78 2.15 2.33 2.57 2.43 3.99 5.61 6.06 7.49 5.19 5.23 Price to Book
4.53 3.25 3.43 3.53 6.95 3.11 4.82 5.66 5.63 5.87 4.23 10.38 22.52 39.91 32.20 10.78 8.32 Price to Tangible Book
24.90 -- 119 54.65 -- 7.04 -- 18.13 -- -- 3.51 17.61 12.61 15.00 27.99 13.98 15.31 Price-to-Free-Cash-Flow
Ratio
20.31 74.06 35.06 23.01 -- 6.10 -- 16.65 -- -- 3.35 12.60 11.04 14.22 23.01 12.87 14.32 Price-to-Operating-Cash-
Flow Ratio
1.65 1.34 1.21 0.96 1.37 0.59 0.87 1.13 1.55 1.24 1.00 2.16 2.38 3.32 6.30 4.08 4.43 PS Ratio
0.58 0.75 1.28 -- -- -- -- -- -- -- -- -- -- -- -- -- -- PEG Ratio
1.52 1.20 1.13 0.85 1.36 0.46 0.97 1.01 1.56 1.19 0.62 1.50 1.76 2.78 5.43 3.38 3.75 EV-to-Revenue
7.10 7.13 6.79 -42.59 35.72 2.45 320 5.92 16.15 5.70 2.10 -15.68 11.12 14.09 32.04 17.83 17.19 EV-to-EBITDA
10.14 13.65 14.72 -4.73 -12.30 6.15 -7.68 15.94 -15.24 276 3.54 -6.29 41.18 54.13 61.26 37.44 26.82 EV-to-EBIT
9.86 7.33 6.79 -21.14 -8.13 16.26 -13.02 6.27 -6.56 0.36 28.25 -15.90 2.43 1.85 1.63 2.67 3.73 Return on Capital %
21.24 21.90 23.09 12.56 -31.21 -23.13 -3.56 0.13 -0.65 -- 5.01 -- -- -- -- -- 20.71 Forward Rate of Return
-- -- -- -- 228 70.41 -- -- -- -- -- -- -- -- -- -- 301 Shiller PE Ratio
Valuation and Quality
Oct03 Oct04 Oct05 Oct06 Oct07 Oct08 Oct09 Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 TTM Fiscal Period
1,755 1,504 1,459 1,018 1,395 921 899 1,324 1,388 1,514 1,950 2,250 3,261 6,082 11,151 10,587 12,595 Market Cap
1,572 1,348 1,352 885 1,335 711 935 1,151 1,284 1,447 1,469 1,625 2,490 4,942 9,734 9,016 10,786 Enterprise Value
26.47 22.07 20.65 13.99 18.78 11.86 10.97 15.37 15.39 16.15 21.93 25.46 37.67 59.27 97.78 94.37 111 Month End Stock Price
0.15 -2.27 -2.01 -2.56 -3.80 -2.42 -4.89 -0.88 -1.48 -3.07 -0.70 -6.42 -8.54 -7.34 -7.23 -5.63 -4.35 Net Cash (per share)
5.12 5.94 5.14 3.11 1.87 3.29 1.54 2.44 2.11 1.88 4.52 1.30 0.42 0.49 1.41 5.57 8.45 Net Current Asset Value
(per share)
2.80 2.01 1.05 -0.42 -2.07 -0.23 -2.49 -0.01 -0.98 -1.39 -0.09 -4.45 -6.99 -5.65 -5.53 -2.86 0.04 Net-Net Working Capital (per
share)
9.79 11.54 12.88 12.32 8.33 9.28 2.09 0.77 1.43 1.13 14.85 17.61 24.64 32.46 38.25 62.97 67.22 Projected FCF (per share)
-- -- -- -- 15.02 23.91 14.96 16.19 11.73 15.58 25.83 13.61 18.83 22.13 19.99 32.77 49.05 Median PS (per share)
34.58 22.67 13.25 -19.32 -- -- -- -- -32.80 -6.67 -- -- -- -- -- -- -23.50 Peter Lynch Fair Value (per
share)
13.42 11.79 8.23 -- -- 10.48 -- 6.16 -- -- 19.31 -- -- 4.90 10.26 23.90 29.86 Graham Number (per share)
11.31 12.41 12.70 10.98 3.80 2.36 -12.30 -6.92 -7.32 -2.17 -5.77 -9.43 -9.24 1.70 5.36 17.55 30.37 Earnings Power Value
(EPV)
9.25 5.31 5.79 2.90 3.14 3.36 1.80 3.92 2.27 2.51 3.94 1.28 1.80 2.52 3.83 4.23 4.60 Altman Z-Score
5.00 3.00 6.00 3.00 4.00 7.00 -- 7.00 3.00 5.00 7.00 3.00 6.00 7.00 7.00 8.00 6.00 Piotroski F-Score
-1.98 -1.80 -2.52 -3.55 -3.19 -2.39 -1.42 -2.59 -3.30 -0.57 -3.33 3.18 -3.08 -2.50 -2.64 -2.48 -3.28 Beneish M-Score
0.71 0.68 0.61 0.45 0.47 0.49 0.50 0.44 0.51 0.45 0.25 -0.03 -0.09 -0.05 0.02 0.13 0.12 Scaled Net Operating
Assets
8.96 11.22 9.24 -23.36 -5.99 -3.47 8.85 -8.11 -0.84 -0.63 -17.11 -12.21 2.12 -6.72 -1.29 -6.74 -5.77 Sloan Ratio (%)
3.10 2.33 2.48 2.07 1.60 1.98 1.77 2.45 3.40 2.57 2.95 1.84 1.68 1.30 1.40 1.45 1.64 Current Ratio
2.49 1.83 1.93 1.71 1.28 1.70 1.51 2.35 3.30 2.48 2.88 1.82 1.66 1.29 1.39 1.43 1.63 Quick Ratio
27.39 26.95 29.34 19.56 23.79 27.65 12.48 16.59 17.41 16.15 22.26 30.50 37.67 59.97 127 138 136 Highest Stock Price
12.53 18.56 17.99 9.34 12.25 10.95 5.62 8.85 10.80 7.82 14.21 18.81 23.70 33.92 57.53 84.63 84.41 Lowest Stock Price
-9.58 -2.74 -3.73 -2.94 -2.10 -4.61 -5.45 -5.12 -4.76 -3.91 5.15 0.63 2.02 -18.54 -11.13 1.63 -0.22 Shares Buyback Ratio (%)
19.65 3.08 3.07 -13.76 -6.51 48.18 -37.73 11.98 -29.83 43.24 45.44 -34.71 25.77 13.74 -17.51 45.69 12.36 YoY Rev. per Sh. Growth
(%)
37.00 -33.58 -45.05 -620 25.77 166 -241 131 -334 74.05 1,041 -209 97.13 820 114 88.31 -6.60 YoY EPS Growth (%)
48.83 -21.63 -25.12 -114 277 634 -100 21,379 -67.98 211 107 -121 308 41.51 -29.07 62.92 32.14 YoY EBITDA Growth (%)
32.94 32.41 30.38 7.43 -31.89 -23.59 -- -- -- -- -- -- -- -- -- -- -- EBITDA 5-Y Growth (%)
62.95 67.10 69.86 71.01 71.86 75.04 76.82 80.51 83.36 85.58 84.52 80.37 83.42 90.18 110 113 113 Shares Outstanding (Basic
Average)
66.31 68.13 70.67 72.75 74.27 77.69 81.93 86.12 90.22 93.74 88.92 88.36 86.57 103 114 112 113 Shares Outstanding (EOP)
1.23 0.13 1.28 0.32 1.19 1.42 1.34 1.52 1.42 1.76 1.29 0.62 0.65 0.97 1.63 1.14 0.56 Beta
02/12/04 12/22/04 01/31/06 02/28/07 12/20/07 12/19/08 12/18/09 05/25/11 05/23/12 05/14/13 05/14/14 05/22/15 05/19/16 05/24/17 05/17/18 05/14/19 Filing Date
12/22/04 01/31/06 02/28/07 12/20/07 12/20/07 12/18/09 12/18/09 05/14/13 05/14/14 05/22/15 05/19/16 05/24/17 05/17/18 05/14/19 05/14/19 05/14/19 Restated Filing Date
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/TTWO 6/6
Allstate Corp (NYSE:ALL) 03/03/2020 2:30PM EST GuruFocus
Price: $ 109.19 -3.48(-3.09%) Market Cap: $ 34.6 B Enterprise Value: $38.89 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 7.74
Cash to Debt 0.05 Net-margin (%) 10.85
Forward P/E N/A
Equity to Asset 0.22 ROE (%) 19.28
F-Score: PE(NRI) 7.74
ROA (%) 4.13
9999 P/B 1.46
M-Score: Revenue Growth (3Y)(%) 10.60
-2.51 P/S 0.82
EBITDA Growth (3Y)(%) 32.50
WACC vs 5.44% PFCF 7.73
ROIC 19.47% EPS Growth (3Y)(%) 44.30
WACC POCF 7.09
ROIC
EV-to-EBIT 6.04
PEG 0.72
Shiller P/E 17.92
Warning Signs Quarterly Revenues Company Description
Valuation: Forward PE Ratio Mar Jun Sep Dec Full Year On the basis of premium sales, Allstate is one of the largest U.S. property-casualty insurers. Personal auto represents
the largest percentage of revenue, but the company offers homeowners insurance and other insurance products. Life
2016 8,871 9,164 9,221 10,143 37,399 insurance contributes about 10% of revenue. Allstate products are sold in North America primarily by about 10,000
2017 9,644 9,813 9,888 10,062 39,407 company agencies.... (Read More)
Good Signs 2018 9,770 10,099 10,465 9,481
, , , ,
39,815 Competitors: TSE:8766 HKSE:01339 NYSE:TRV NYSE:PGR HKSE:02328 TSE:8725 NYSE:MKL
, , ,
NAS:CINF, TSX:IFC, NYSE:L, NYSE:WRB, TSE:8630, TSX:FFH, ASX:QBE, NYSE:CNA, NYSE:Y, ASX:SUN,
Revenue per Share: 2019 10,990 11,144 11,069 11,472 44,675 ASX:IAG, NYSE:AFG, LSE:ADM
Consistent growth 2020
Insider Trades
PE Ratio: Close to 10-year Quarterly Earnings per Share
low Mar Jun Sep Dec Full Year
PB Ratio: Close to 3-year low 2016 0.57 0.64 1.31 2.18 4.70
2017 1.79 1.49 1.74 3.35 8.37
2018 2.71 1.91 2.68 -0.91 6.39
DCF 2019 3.74 2.44 2.67 5.23 14.08
EPS without NRI: $14.08 2020
Growth Rate in the next 10 Quarterly Dividends Per Share
years: 20%
Terminal Growth Rate for 10 Mar Jun Sep Dec Full Year
years: 4% 2016 0.33 0.33 0.33 0.33 1.32
Fair Value: $400.83 2017 0.37 0.37 0.37 0.37 1.48
2018 0.46 0.46 0.46 0.46 1.84
2019 0.50 0.50 0.50 0.50 2.00
Reverse DCF 2020
Expected eps Growth Rate: - Growth Rate
0.18%
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) 8.80 10.20 18.80
EBITDA Growth (%) 19.30 11.10 115.50
Free Cash Flow Growth (%) 10.40 16.70 1.50
Book Value Growth (%) 7.70 8.30 27.60
EPS Growth (%) 21.40 15.60 146.10
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALL 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
48.46 53.02 56.18 61.62 53.61 59.19 57.88 62.42 67.58 73.37 80.42 87.64 99.12 107 113 134 134 Revenue per Share
6.99 3.72 12.12 12.14 -4.19 3.20 2.88 3.02 8.25 8.78 11.24 9.70 9.09 14.59 9.83 21.18 21.23 EBITDA per Share
6.99 3.62 11.83 11.71 -4.88 3.03 2.70 2.54 7.46 8.00 10.40 8.79 8.08 13.28 8.38 19.24 19.29 EBIT per Share
4.54 2.64 7.84 7.77 -3.06 1.58 1.68 1.50 4.68 4.81 6.27 5.05 4.67 9.35 5.70 14.03 14.08 Earnings per Share (diluted)
4.54 2.64 7.84 7.77 -3.06 1.58 1.68 1.50 4.68 4.81 6.27 5.05 4.67 9.35 5.70 14.03 14.08 eps without NRI
5.31 5.64 4.51 7.53 -5.68 2.92 1.63 1.09 3.83 4.75 6.33 6.75 7.84 10.76 8.38 17.93 17.93 Owner Earnings per Share (TTM)
7.52 8.11 7.68 8.65 6.60 7.60 6.50 3.22 5.62 8.58 6.73 8.14 9.75 10.92 13.87 14.08 14.10 Free Cashflow per Share
1.12 1.28 1.40 1.52 1.64 0.80 0.80 0.84 0.88 1.00 1.12 1.20 1.32 1.48 1.84 2.00 2.00 Dividends per Share
31.95 31.25 35.12 38.81 23.58 31.08 35.68 36.52 42.97 46.10 49.18 47.98 51.44 58.61 58.38 74.50 74.50 Book Value per Share
30.74 29.97 33.80 37.35 21.95 29.45 34.04 34.04 40.38 43.33 46.27 44.78 48.11 50.90 48.61 65.01 65.01 Tangible Book per Share
7.81 8.20 7.50 10.02 10.56 11.01 11.08 11.79 12.65 13.81 12.30 13.45 17.34 17.89 19.43 20.80 20.80 Total Debt per Share
51.72 54.07 65.11 52.23 32.76 30.04 31.88 27.41 40.17 54.54 70.25 62.09 74.12 105 82.63 112 109 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
15.01 8.40 23.76 21.22 -9.74 5.82 5.10 4.22 11.86 10.76 12.54 9.71 8.68 15.94 9.17 19.78 19.28 Return on Equity %
2.24 1.15 3.18 2.95 -1.15 0.64 0.69 0.61 1.83 1.82 2.46 2.04 1.76 3.22 1.92 4.17 4.13 Return on Assets %
15.55 9.22 23.12 20.43 -8.99 8.02 6.06 5.03 11.24 10.50 12.55 10.11 9.29 15.72 9.62 19.54 19.47 Return on Invested Capital %
7.38 9.98 8.98 8.61 9.10 11.80 11.34 9.54 6.59 8.45 7.21 8.39 7.67 7.89 6.11 6.06 5.44 Weighted Average Cost Of Capital (WACC) %
5.92 6.21 7.17 6.46 6.21 6.78 6.21 6.21 6.23 5.99 5.68 5.69 5.14 5.28 5.19 5.00 4.99 Effective Interest Rate on Debt %
9.37 4.99 13.95 12.61 -5.71 2.67 2.90 2.41 6.92 6.61 8.09 6.09 5.02 9.02 5.43 10.85 10.85 Net Margin %
15.52 15.29 13.67 14.03 12.31 12.84 11.23 5.15 8.31 11.69 8.37 9.29 9.84 10.19 12.30 10.51 10.51 FCF Margin %
0.24 0.26 0.21 0.26 0.45 0.35 0.31 0.32 0.29 0.29 0.23 0.26 0.31 0.28 0.30 0.26 0.26 Debt to Equity
0.15 0.13 0.14 0.14 0.09 0.13 0.15 0.15 0.16 0.17 0.21 0.19 0.19 0.20 0.19 0.22 0.22 Total Equity to Total Asset
0.04 0.03 0.03 0.04 0.04 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.06 0.06 0.06 0.06 0.06 Total Debt to Total Asset
23.91 23.14 22.83 23.42 20.19 23.94 23.83 25.50 26.43 27.55 30.38 33.46 35.07 35.66 35.44 38.48 38.02 Gross Profit to Total Asset %
0.24 0.23 0.23 0.23 0.20 0.24 0.24 0.26 0.26 0.28 0.30 0.34 0.35 0.36 0.35 0.39 0.38 Asset Turnover
0.25 0.49 0.18 0.20 -- 0.51 0.48 0.56 0.19 0.21 0.18 0.24 0.28 0.16 0.32 0.14 0.14 Dividend Payout Ratio
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALL 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
33,936 35,383 35,796 36,769 29,394 32,013 31,400 32,654 33,315 34,507 35,239 35,653 37,399 39,407 39,815 44,675 44,675 Revenue
33,936 35,383 35,796 36,769 29,394 32,013 31,400 32,654 33,315 34,507 35,239 35,653 37,399 39,407 39,815 44,675 44,675 Gross Profit
-- -- -- -- -- -- 3,542 3,739 4,118 4,387 4,341 4,081 4,939 4,979 6,062 5,804 5,804 Selling, General, & Admin. Expense
33,936 35,383 35,796 36,769 29,394 32,013 27,858 28,915 29,197 30,120 30,898 31,572 32,460 34,428 33,753 38,871 38,871 Other Operating Expense
-308 -330 -357 -333 -351 -392 -367 -367 -373 -367 -322 -292 -295 -335 -332 -327 -327 Interest Expense
-308 -330 -357 -333 -351 -392 -367 -367 -373 -367 -322 -292 -295 -335 -332 -327 -327 Net Interest Income
4,586 2,088 7,178 6,653 -3,025 1,248 1,100 959 3,306 3,396 4,236 3,282 2,754 4,549 2,628 6,089 6,089 Other Income (Expense)
4,586 2,088 7,178 6,653 -3,025 1,248 1,100 959 3,306 3,396 4,236 3,282 2,754 4,549 2,628 6,089 6,089 Pre-Tax Income
-1,230 -323 -2,185 -2,017 1,346 -394 -189 -172 -1,000 -1,116 -1,386 -1,111 -877 -995 -468 -1,242 -1,242 Tax Provision
26.82 15.47 30.44 30.32 44.50 31.57 17.18 17.94 30.25 32.86 32.72 33.85 31.84 21.87 17.81 20.40 20.40 Tax Rate %
3,356 1,765 4,993 4,636 -1,679 854 911 787 2,306 2,280 2,850 2,171 1,877 3,554 2,160 4,847 4,847 Net Income (Continuing Operations)
-24.00 -13.00 -93.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
3,181 1,765 4,993 4,636 -1,679 854 911 787 2,306 2,280 2,850 2,171 1,877 3,554 2,160 4,847 4,847 Net Income
9.37 4.99 13.95 12.61 -5.71 2.67 2.90 2.41 6.92 6.61 8.09 6.09 5.02 9.02 5.43 10.85 10.85 Net Margin %
-- -- -- -- -- -- -- -- -- 17.00 104 116 116 116 148 169 169 Preferred dividends
4.57 2.67 7.89 7.83 -3.06 1.58 1.69 1.51 4.71 4.87 6.37 5.12 4.72 9.50 5.78 14.25 14.29 EPS (Basic)
4.54 2.64 7.84 7.77 -3.06 1.58 1.68 1.50 4.68 4.81 6.27 5.05 4.67 9.35 5.70 14.03 14.08 EPS (Diluted)
700 667 637 597 548 541 543 523 493 470 438 407 377 368 353 334 327 Shares Outstanding (Diluted
Average)
4.00 67.00 188 257 376 91.00 94.00 252 388 368 366 371 382 483 511 647 647 Depreciation, Depletion and
Amortization
4,898 2,485 7,723 7,243 -2,298 1,731 1,561 1,578 4,067 4,131 4,924 3,945 3,431 5,367 3,471 7,063 7,063 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALL 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
414 313 443 422 415 612 562 776 806 675 657 495 436 617 499 338 338 Cash And Cash Equivalents
4,133 3,470 2,430 3,058 8,906 3,056 3,279 1,291 2,336 2,393 2,540 2,122 4,288 1,944 3,027 4,256 4,256 Marketable Securities
4,547 3,783 2,873 3,480 9,321 3,668 3,841 2,067 3,142 3,068 3,197 2,617 4,724 2,561 3,526 4,594 4,594 Cash, Cash Equivalents,
Marketable Securities
4,721 4,739 4,789 4,879 4,842 4,839 4,839 12,171 13,818 12,858 13,955 14,062 14,342 14,707 15,719 15,683 15,683 Accounts Receivable
9,268 8,522 7,662 8,359 14,163 8,507 8,680 14,238 16,960 15,926 17,152 16,679 19,066 17,268 19,245 20,277 20,277 Total Current Assets
105,743 107,699 105,875 102,766 80,319 86,846 87,702 86,464 88,312 73,367 73,611 70,026 73,607 74,297 72,738 79,540 79,540 Investments And Advances
1,018 1,040 1,010 1,062 1,059 990 921 914 989 1,024 1,031 1,024 1,065 1,072 1,045 1,145 1,145 Gross Property, Plant and
Equipment
1,018 1,040 1,010 1,062 1,059 990 921 914 989 1,024 1,031 1,024 1,065 1,072 1,045 1,145 1,145 Property, Plant and Equipment
825 825 825 825 874 875 874 1,242 1,240 1,243 1,219 1,219 1,219 2,737 3,243 3,026 3,026 Intangible Assets
825 825 825 -- 874 875 874 1,242 1,240 1,243 1,219 1,219 1,219 2,181 2,530
2,545 Goodwill
2,545
32,871 37,986 42,182 43,396 38,383 35,434 32,697 22,335 19,446 31,960 15,466 15,708 13,653 17,048 15,978 15,962 15,962 Other Long Term Assets
149,725 156,072 157,554 156,408 134,798 132,652 130,874 125,193 126,947 123,520 108,479 104,656 108,610 112,422 112,249 119,950 119,950 Total Assets
-- -- -- -- -- -- -- 2,588 4,010 4,664 5,694 5,892 6,184 6,471 7,155 6,912 6,912 Accounts Payable
-- -- -- 8,779 6,663 5,726 5,564 8,566 10,439 9,820 11,347 11,196 12,783 13,110 14,892 16,059 16,059 Accounts Payable & Accrued
Expense
43.00 413 12.00 -- -- -- -- -- -- -- -- -- -- -- -- -- -- Current Portion of Long-Term
Debt
43.00 413 12.00 8,779 6,663 5,726 5,564 8,566 10,439 9,820 11,347 11,196 12,783 13,110 14,892 16,059 16,059 Total Current Liabilities
5,291 4,887 4,650 5,640 5,659 5,910 5,908 5,908 6,057 6,201 5,140 5,124 6,347 6,350 6,451 6,631 6,631 Long-Term Debt
5,291 4,887 4,650 5,640 5,659 5,910 5,908 5,908 6,057 6,201 5,140 5,124 6,347 6,350 6,451 6,631 6,631 Long-Term Debt & Capital
Lease Obligation
0.24 0.26 0.21 0.26 0.45 0.35 0.31 0.32 0.29 0.29 0.23 0.26 0.31 0.28 0.30 0.26 0.26 Debt to Equity
829 351 -- -- -- -- -- -- 597 635 715 90.00 487 782 425 1,154 1,154 NonCurrent Deferred Liabilities
-- -- -- -- 32.00 29.00 28.00 28.00 -- -- -- -- -- -- -- -- -- Minority Interest
121,739 130,235 131,046 120,138 109,803 104,295 100,358 92,393 89,274 85,384 68,973 68,221 68,420 69,629 69,169 70,108 70,108 Other Long-Term Liabilities
127,902 135,886 135,708 134,557 122,125 115,931 111,830 106,867 106,367 102,040 86,175 84,631 88,037 89,871 90,937 93,952 93,952 Total Liabilities
9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 Common Stock
-- -- -- -- -- -- -- -- -- 780 1,746 1,746 1,746 1,746 1,930 2,248 2,248 Preferred Stock
24,043 24,962 29,070 32,796 30,207 31,492 31,969 31,909 33,783 35,580 37,842 39,413 40,678 43,162 44,033 48,074 48,074 Retained Earnings
2,615 2,082 991 623 -4,801 -2,106 -184 29.00 1,175 1,046 561 -755 -416 306 118 1,950 1,950 Accumulated other
comprehensive income (loss)
2,685 2,798 2,939 3,052 3,130 3,172 3,176 3,189 3,162 3,143 3,199 3,245 3,303 3,313 3,310 3,463 3,463 Additional Paid-In Capital
-7,372 -9,575 -11,091 -14,574 -15,855 -15,828 -15,910 -16,795 -17,508 -19,047 -21,030 -23,620 -24,741 -25,982 -28,085 -29,746 -29,746 Treasury Stock
21,823 20,186 21,846 21,851 12,641 16,692 19,016 18,298 20,580 21,480 22,304 20,025 20,573 22,551 21,312 25,998 25,998 Total Equity
0.15 0.13 0.14 0.14 0.09 0.13 0.15 0.15 0.16 0.17 0.21 0.19 0.19 0.20 0.19 0.22 0.22 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALL 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,181 1,765 4,993 4,636 -1,679 854 911 787 2,306 2,280 2,850 2,171 1,877 3,554 2,160 4,847 4,847 Net Income
3,181 1,765 4,993 4,636 -1,679 854 911 787 2,306 2,280 2,850 2,171 1,877 3,554 2,160 4,847 4,847 Net Income From Continuing
Operations
4.00 67.00 188 257 376 91.00 94.00 252 388 368 366 371 382 483 511 647 647 Depreciation, Depletion and
Amortization
-1,397 -873 -49.00 -62.00 18.00 26.00 -255 -683 -1,685 -934 -1,325 -312 -306 -342 -1,052 21.00 21.00 Change In Receivables
-443 -243 -196 -37.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
1,680 2,868 -3,236 -52.00 -1,864 1,660 200 134 -- -- -- -- -- -- -- -- -- Change In Payables And Accrued
Expense
682 2,040 -2,166 -402 -1,542 836 69.00 -259 -611 -269 -280 346 923 144 511 666 666 Change In Working Capital
1,601 1,733 2,040 942 6,755 2,520 2,615 1,149 971 1,863 300 728 811 8.00 1,993 -1,137 -1,031 Cash Flow from Others
5,468 5,605 5,055 5,433 3,910 4,301 3,689 1,929 3,054 4,242 3,236 3,616 3,993 4,314 5,175 5,129 5,129 Cash Flow from Operations
-200 -196 -161 -274 -291 -189 -162 -246 -285 -207 -288 -303 -313 -299 -277 -433 -433 Purchase Of Property, Plant,
Equipment
-- -60.00 -- -- -1,102 -784 -1,342 -1,696 -1,524 -1,312 -1,398 -1,343 -1,450 -1,440 -1,679 -1,332 -1,332 Purchase Of Business
-- -- -- -- 371 12.00 505 1,000 1,398 1,045 1,473 1,101 881 1,125 764 756 756 Sale Of Business
-40,846 -38,995 -37,130 -40,707 -32,822 -39,257 -30,391 -30,339 -24,692 -29,275 -45,174 -36,287 -37,322 -36,149 -44,363 -39,884 -39,884 Purchase Of Investment
30,323 34,102 36,198 40,863 37,009 40,796 32,635 38,868 26,118 30,847 46,015 37,717 35,823 36,955 44,529 38,253 38,253 Sale Of Investment
-- -2.00 -826 3.00 623 2,862 1,087 -1,426 566 482 993 -143 -145 -1,402 -693 -167 -167 Cash From Other Investing Activities
-10,723 -5,151 -1,919 -115 3,788 3,440 2,332 6,161 1,581 1,580 1,621 742 -2,526 -1,210 -1,719 -2,807 -2,807 Cash Flow from Investing
-- -- 239 109 33.00 3.00 28.00 19.00 -- -- -- -- -- -- -- -- -- Issuance of Stock
-1,373 -2,484 -1,770 -3,604 -1,323 -4.00 -152 -953 -913 -1,834 -2,301 -2,808 -1,337 -1,495 -2,303 -1,735 -1,735 Repurchase of Stock
-- -- -- -- -- -- -- -- -- 781 965 -- -- -- 172 282 -385 Net Issuance of Preferred Stock
668 -46.00 -608 966 19.00 251 -2.00 -- 141 -356 -1,006 -20.00 1,219 -- 98.00 174 175 Net Issuance of Debt
-756 -830 -873 -901 -889 -542 -430 -435 -534 -358 -564 -599 -602 -641 -748 -787 -787 Cash Flow for Dividends
6,764 2,805 245 -1,909 -5,545 -7,252 -5,487 -6,488 -3,299 -4,186 -1,969 -1,093 -806 -787 -793 -417 -135 Other Financing
5,303 -555 -3,006 -5,339 -7,705 -7,544 -6,071 -7,876 -4,605 -5,953 -4,875 -4,520 -1,526 -2,923 -3,574 -2,483 -2,483 Cash Flow from Financing
48.00 -101 130 -21.00 -7.00 197 -50.00 214 30.00 -131 -18.00 -162 -59.00 181 -118 -161 -161 Net Change in Cash
-200 -196 -161 -274 -291 -189 -162 -246 -285 -207 -288 -303 -313 -299 -277 -433 -433 Capital Expenditure
5,268 5,409 4,894 5,159 3,619 4,112 3,527 1,683 2,769 4,035 2,948 3,313 3,680 4,015 4,898 4,696 4,696 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALL 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.39 21.20 8.30 6.72 -- 19.01 18.86 18.40 8.58 11.39 11.17 12.32 15.77 12.51 12.93 7.99 7.74 PE Ratio(TTM)
9.75 9.58 14.43 6.93 -- 10.30 19.61 25.26 10.48 11.48 11.11 9.20 9.46 9.73 9.87 6.27 6.08 Price to Owner Earnings
(TTM)
1.62 1.73 1.85 1.35 1.39 0.97 0.89 0.75 0.93 1.18 1.43 1.29 1.44 1.79 1.42 1.51 1.46 Price to Book
1.68 1.80 1.93 1.40 1.49 1.02 0.94 0.81 0.99 1.26 1.52 1.39 1.54 2.06 1.70 1.73 1.68 Price to Tangible Book
6.89 6.67 8.46 6.03 4.99 3.95 4.90 8.56 7.17 6.34 10.38 7.57 7.58 9.58 5.94 7.98 7.73 Price-to-Free-Cash-Flow
Ratio
6.63 6.44 8.19 5.73 4.62 3.77 4.69 7.46 6.50 6.03 9.46 6.94 6.99 8.92 5.62 7.30 7.09 Price-to-Operating-Cash-
Flow Ratio
1.07 1.02 1.16 0.85 0.61 0.51 0.55 0.44 0.59 0.74 0.87 0.71 0.75 0.98 0.73 0.84 0.82 PS Ratio
-- 1.11 0.28 0.23 -- -- -- -- -- -- 0.30 0.32 1.27 1.67 1.52 0.86 0.72 PEG Ratio
1.06 1.03 1.18 0.86 0.47 0.57 0.61 0.54 0.67 0.82 0.94 0.78 0.82 1.08 0.81 0.90 0.88 EV-to-Revenue
7.37 14.67 5.48 4.36 -6.06 10.63 12.23 11.15 5.45 6.88 6.71 7.07 8.89 7.96 9.30 5.68 5.51 EV-to-EBITDA
7.38 15.07 5.61 4.52 -5.21 11.22 13.01 13.27 6.02 7.55 7.25 7.81 10.00 8.74 10.91 6.26 6.04 EV-to-EBIT
13.55 6.64 17.83 22.12 -19.19 8.91 7.69 7.54 16.61 13.25 13.79 12.80 10.00 11.44 9.17 15.97 16.50 Return on Capital %
-6.26 30.46 31.04 34.95 23.53 25.73 23.24 23.74 14.69 11.56 28.69 30.28 22.53 15.68 20.46 19.13 19.12 Forward Rate of Return
15.27 15.54 15.97 11.45 8.74 8.44 9.33 7.94 10.81 14.44 18.30 15.29 20.19 28.34 17.31 18.45 17.92 Shiller PE Ratio
2.17 2.37 2.15 2.91 5.01 2.66 2.51 3.06 2.19 1.83 1.59 1.93 1.78 1.41 2.23 1.78 1.87 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
35,325 34,929 40,498 29,405 17,561 16,131 16,992 13,732 19,241 24,488 29,365 23,656 27,128 37,172 27,433 35,848 34,604 Market Cap
36,112 36,446 42,287 31,565 13,931 18,402 19,087 17,601 22,156 28,401 33,054 27,909 30,497 42,707 32,288 40,133 38,889 Enterprise Value
51.72 54.07 65.11 52.23 32.76 30.04 31.88 27.41 40.17 54.54 70.25 62.09 74.12 105 82.63 112 109 Month End Stock Price
-181 -204 -214 -233 -211 -209 -203 -209 -216 -220 -199 -215 -228 -246 -263 -280 -280 Net Cash (per share)
-175 -199 -208 -226 -204 -202 -196 -191 -194 -201 -178 -192 -203 -220 -234 -250 -250 Net-Net Working Capital (per
share)
72.51 86.05 103 124 107 108 106 97.62 102 108 117 125 136 174 171 200 200 Projected FCF (per share)
46.11 54.02 58.05 62.29 51.36 54.82 53.05 54.84 54.80 54.17 59.25 63.24 71.52 77.28 82.50 101 101 Median PS (per share)
62.71 48.68 196 194 -- -- -- -- -- -- 157 126 58.42 62.78 54.25 130 130 Peter Lynch Fair Value (per
share)
56.04 42.19 77.21 80.80 -- 32.36 35.87 33.90 65.20 68.48 80.79 71.33 71.10 103 78.96 143 144 Graham Number (per share)
-4.33 -5.37 -5.80 -7.02 3.17 -7.70 -7.31 -11.33 -10.22 -11.00 -9.45 -12.16 -10.41 -16.68 -15.45 -14.27 -14.27 Earnings Power Value
(EPV)
9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 9,999 Piotroski F-Score
-- -- -- -- -- -- -- -1.38 -2.48 -2.61 -2.48 -2.54 -2.63 -2.52 -2.66 -2.51 -2.51 Beneish M-Score
0.20 0.17 0.17 0.17 0.12 0.16 0.18 0.18 0.21 0.21 0.22 0.23 0.25 0.26 0.24 0.29 0.27 Scaled Net Operating
Assets
5.63 0.84 1.18 -0.44 -6.96 -5.19 -3.90 -5.83 -1.83 -2.87 -1.85 -2.09 0.38 0.40 -1.15 2.11 2.11 Sloan Ratio (%)
51.76 62.33 66.06 65.36 52.67 33.26 35.43 34.31 42.62 54.71 71.00 72.58 74.58 105 105 113 126 Highest Stock Price
42.71 49.67 50.42 49.22 18.10 14.12 27.26 22.68 27.41 40.17 49.55 56.99 57.70 73.09 77.27 80.30 92.24 Lowest Stock Price
2.98 5.42 3.72 9.49 4.79 -0.18 0.74 6.00 4.39 6.26 6.90 8.85 3.94 3.01 6.48 3.98 3.98 Shares Buyback Ratio (%)
6.45 9.42 5.95 9.69 -13.00 10.40 -2.20 7.85 8.25 8.58 9.60 8.98 13.10 8.09 5.21 18.83 18.84 YoY Rev. per Sh. Growth
(%)
18.54 -41.85 197 -0.89 -139 152 6.33 -10.71 212 2.78 30.35 -19.46 -7.52 100 -39.04 146 120 YoY EPS Growth (%)
28.33 -46.75 225 0.15 -135 176 -10.09 4.87 173 6.49 27.93 -13.70 -6.23 60.46 -32.65 116 118 YoY EBITDA Growth (%)
-16.15 19.09 29.50 28.68 -- -- -- -- -- -- 37.76 38.86 12.43 7.50 8.49 9.26 11.10 EBITDA 5-Y Growth (%)
696 662 633 592 548 540 540 521 489 464 431 401 373 362 348 328 320 Shares Outstanding (Basic
Average)
683 646 622 563 536 537 533 501 479 449 418 381 366 355 332 319 324 Shares Outstanding (EOP)
0.61 1.10 0.80 0.89 1.43 1.73 1.56 1.52 0.92 1.08 0.96 1.20 1.00 1.02 0.65 0.75 0.76 Beta
02/24/05 02/23/06 02/22/07 02/27/08 02/26/09 02/25/10 02/24/11 02/22/12 02/20/13 02/20/14 02/19/15 02/19/16 02/17/17 02/26/18 02/15/19 02/21/20 Filing Date
02/23/06 02/22/07 02/27/08 02/26/09 02/25/10 02/24/11 02/20/13 02/20/14 02/19/15 02/19/16 02/17/17 02/26/18 02/15/19 02/21/20 02/21/20 02/21/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALL 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ALL 7/7
Consolidated Edison Inc (NYSE:ED) 03/03/2020 2:30PM EST GuruFocus
Price: $ 84.46 -0.07(-0.08%) Market Cap: $ 28.19 B Enterprise Value: $49.94 B Stock PDF
Financial Strength : 3/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 20.76
Cash to Debt 0.04 Operating margin (%) 20.97
Forward P/E N/A
Equity to Asset 0.31 Net-margin (%) 10.38
PE(NRI) 20.76
Interest Coverage 2.59 ROE (%) 7.66
F-Score:
P/B 1.57
ROA (%) 2.43
6 P/S 2.16
Z-Score: ROC (Joel Greenblatt) (%) 6.47
1.03 POCF 8.91
Revenue Growth (3Y)(%) -1.60
WACC vs 2.91% EV-to-EBIT 17.76
ROIC 5.96% EBITDA Growth (3Y)(%) 1.60
WACC PEG 6.71
EPS Growth (3Y)(%) -0.30
ROIC
Shiller P/E 19.63
Current Ratio 0.68
Quick Ratio 0.62
Days Inventory 20.76
Days Sales Outstanding 34.58
Warning Signs Quarterly Revenues Company Description
Interest Coverage: Low Mar Jun Sep Dec Full Year Con Ed is a holding company for Consolidated Edison Company of New York, or CECONY, and Orange & Rockland,
or O&R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York--including
2016 3,156 2,794 3,417 2,707 12,074 New York City--and small parts of New Jersey. The two utilities generate roughly 90% of Con Ed's results. The other
Dividend Payout Ratio: Too
2017 3,228 2,633 3,211 2,961 12,033 10% of earnings comes from investments in renewable energy projects and gas and electric transmission. These
high investments have resulted in Con Ed becoming one of the largest owners of utility-scale PV solar capacity in the
2018 3,364 2,338 2,899 4,216 12,817 U.S.... (Read More)
2019 3,514 2,331 2,877 4,326 13,048 Competitors: XMAD:ELE, NYSE:ES, NYSE:WEC, NYSE:EIX, NYSE:PPL , HKSE:00002 , NYSE:DTE, NAS:XEL ,
Good Signs 2020 NYSE:AEE, TSX:FTS, NYSE:CMS, SAU:5110, NYSE:AGR, NYSE:EVRG, MIL:TRN, NAS:LNT, XSGO:ENELAM,
XKRX:015760, BOM:532898, BSP:ELET3
Operating Margin %: Quarterly Earnings per Share
Expansion Insider Trades
Mar Jun Sep Dec Full Year
PE Ratio: Close to 1-year low 2016 1.05 0.77 1.62 0.67 4.11
2017 1.27 0.57 1.48 1.62 4.94
PB Ratio: Close to 3-year low 2018 1.37 0.60 1.39 1.05 4.41
Insider Buy: Insider Buying 2019 1.31 0.46 1.42 0.88 4.07
2020
DCF Quarterly Dividends Per Share
GuruFocus does not Mar Jun Sep Dec Full Year
calculate intrinsic value: DCF 2016 0.67 0.67 0.67 0.67 2.68
(Earnings Based) for 2017 0.69 0.69 0.69 0.69 2.76
companies with one star 2018 0.72 0.72 0.72 0.72 2.86
predictability or not rated. But 2019 0.74 0.74 0.74 0.74 2.96
you can go to each stock's 2020
DCF page to calculate Growth Rate
yourself.
Annual Rates(per share) 10-Y 5-Y 12-M
Revenue Growth (%) -1.90 -2.70 -3.20
Reverse DCF
EBITDA Growth (%) 3.10 3.10 3.70
GuruFocus does not
calculate reverse DCF growth Free Cash Flow Growth (%) 0.00 0.00 0.00
rate for companies with one Book Value Growth (%) 3.90 5.10 5.00
star predictability or not rated. EPS Growth (%) 3.20 2.70 -7.70
But you can go to each
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ED 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
41.23 46.36 47.79 49.08 49.65 47.17 46.61 43.77 41.39 41.96 43.94 42.64 40.00 38.97 39.43 38.16 39.57 Revenue per Share
7.55 8.49 8.99 9.41 9.93 9.85 10.49 10.67 11.21 11.15 11.30 12.16 12.77 13.17 12.91 13.39 14.32 EBITDA per Share
5.21 6.10 6.50 6.91 7.31 6.99 7.56 7.66 7.96 7.67 7.66 8.33 8.74 8.83 8.32 8.28 8.52 EBIT per Share
2.27 2.94 2.95 3.47 4.37 3.14 3.47 3.57 3.86 3.61 3.71 4.05 4.12 4.94 4.42 4.08 4.07 Earnings per Share (diluted)
2.39 3.04 2.96 3.46 3.36 3.14 3.47 3.57 3.86 3.61 3.71 4.05 4.12 4.94 4.42 4.08 4.07 eps without NRI
-0.10 -1.93 0.20 1.30 -0.99 2.38 1.44 3.41 2.28 2.68 2.70 3.77 3.60 2.29 -1.16 -0.74 -0.74 Owner Earnings per Share (TTM)
-0.45 -3.46 -1.99 -1.42 -6.16 0.99 1.28 3.97 1.80 0.05 1.40 0.76 -0.73 -0.25 -2.56 -1.07 -1.08 Free Cashflow per Share
2.26 2.28 2.30 2.32 2.34 2.36 2.38 2.40 2.42 2.46 2.52 2.60 2.68 2.76 2.86 2.96 2.96 Dividends per Share
29.09 29.80 31.09 33.35 36.19 37.22 38.66 39.05 40.53 41.81 42.94 44.55 46.88 49.74 52.11 54.70 54.10 Book Value per Share
27.00 27.78 29.20 31.84 34.67 35.72 37.18 37.57 39.06 40.33 41.47 43.08 45.07 47.93 45.58 48.62 48.09 Tangible Book per Share
29.77 33.45 34.24 34.11 36.86 37.70 36.63 36.45 38.61 42.43 44.07 48.72 51.90 53.57 64.52 68.40 67.66 Total Debt per Share
43.75 46.33 48.07 48.85 38.93 45.43 49.57 62.03 55.54 55.28 66.01 64.27 73.68 84.95 76.46 90.47 84.46 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
7.55 9.72 9.36 10.61 12.46 8.52 9.13 9.26 9.77 8.81 8.80 9.31 9.10 10.26 8.60 7.73 7.66 Return on Equity %
2.47 3.03 2.86 3.38 3.91 2.61 2.86 2.81 2.84 2.59 2.58 2.66 2.65 3.17 2.71 2.40 2.43 Return on Assets %
7.85 8.88 8.97 9.55 9.67 8.79 9.33 9.22 9.01 8.15 7.73 7.90 7.83 7.49 6.56 6.31 6.47 Return on Capital %
5.83 6.74 6.53 7.09 5.54 6.21 6.46 6.61 6.91 6.68 5.88 6.29 6.15 6.99 5.78 5.81 5.96 Return on Invested Capital %
3.05 4.72 4.00 3.27 4.18 5.35 4.57 3.28 2.72 3.18 3.54 3.22 2.79 2.32 3.91 3.57 2.91 Weighted Average Cost Of Capital (WACC) %
-- -- -- -- 5.62 5.91 5.72 5.56 5.49 6.06 4.67 4.81 4.62 4.50 4.39 4.58 4.90 Effective Interest Rate on Debt %
44.77 43.13 44.73 44.93 44.17 52.10 35.14 38.15 42.00 41.79 39.57 43.76 49.05 52.10 50.56 53.81 53.14 Gross Margin %
12.64 13.16 13.61 14.08 12.21 14.57 15.91 17.38 19.19 18.16 16.75 19.33 22.16 23.04 20.53 21.28 20.97 Operating Margin %
5.52 6.34 6.16 7.08 8.89 6.74 7.53 8.24 9.36 8.60 8.45 9.50 10.31 12.67 11.20 10.68 10.38 Net Margin %
-1.10 -7.46 -4.17 -2.89 -12.41 2.09 2.75 9.08 4.35 0.11 3.19 1.78 -1.83 -0.63 -6.50 -2.80 -2.70 FCF Margin %
0.99 1.09 1.07 1.00 1.02 1.01 0.95 0.93 0.95 1.02 1.03 1.09 1.11 1.08 1.24 1.25 1.25 Debt to Equity
0.32 0.30 0.31 0.33 0.30 0.31 0.31 0.29 0.29 0.30 0.29 0.29 0.30 0.32 0.31 0.31 0.31 Total Equity to Total Asset
0.32 0.33 0.33 0.33 0.30 0.31 0.29 0.27 0.27 0.31 0.29 0.31 0.33 0.35 0.38 0.39 0.39 Total Debt to Total Asset
20.02 20.64 20.76 21.45 19.43 20.17 13.34 13.01 12.73 12.61 12.07 12.25 12.62 13.01 12.23 12.08 12.44 Gross Profit to Total Asset %
0.45 0.48 0.46 0.48 0.44 0.39 0.38 0.34 0.30 0.30 0.31 0.28 0.26 0.25 0.24 0.23 0.23 Asset Turnover
0.95 0.75 0.78 0.67 0.70 0.75 0.69 0.67 0.63 0.68 0.68 0.64 0.65 0.56 0.65 0.73 0.73 Dividend Payout Ratio
28.51 32.98 25.17 26.99 29.51 29.32 32.13 31.81 36.60 36.96 33.93 30.59 33.43 33.46 37.49 35.88 34.58 Days Sales Outstanding
62.49 69.82 62.17 59.97 55.88 68.59 48.61 43.74 62.74 51.62 48.39 52.11 68.05 81.43 71.03 73.15 69.49 Days Accounts Payable
20.04 20.71 24.60 22.00 22.16 25.47 14.85 16.12 17.71 17.59 17.18 18.66 20.44 21.31 20.70 22.31 20.76 Days Inventory
-13.94 -16.13 -12.40 -10.98 -4.21 -13.80 -1.63 4.19 -8.43 2.93 2.72 -2.86 -14.18 -26.66 -12.84 -14.96 -14.15 Cash Conversion Cycle
18.22 17.63 14.84 16.59 16.47 14.33 24.59 22.64 20.61 20.75 21.24 19.56 17.86 17.13 17.63 16.36 17.58 Inventory Turnover
0.55 0.57 0.55 0.55 0.56 0.48 0.65 0.62 0.58 0.58 0.60 0.56 0.51 0.48 0.49 0.46 0.47 COGS to Revenue
0.03 0.03 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ED 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
9,730 11,343 11,962 13,120 13,583 13,032 13,325 12,886 12,188 12,354 12,919 12,554 12,075 12,033 12,337 12,574 13,048 Revenue
5,374 6,451 6,611 7,225 7,584 6,242 8,642 7,970 7,069 7,191 7,807 7,060 6,152 5,764 6,100 5,808 6,114 Cost of Goods Sold
4,356 4,892 5,351 5,895 5,999 6,790 4,683 4,916 5,119 5,163 5,112 5,494 5,923 6,269 6,237 6,766 6,934 Gross Profit
44.77 43.13 44.73 44.93 44.17 52.10 35.14 38.15 42.00 41.79 39.57 43.76 49.05 52.10 50.56 53.81 53.14 Gross Margin %
3,126 3,399 3,723 4,048 4,340 4,891 2,563 2,677 2,780 2,919 2,948 3,067 3,247 3,496 3,704 4,090 4,198 Other Operating Expense
1,230 1,493 1,628 1,847 1,659 1,899 2,120 2,239 2,339 2,244 2,164 2,427 2,676 2,773 2,533 2,676 2,736 Operating Income
12.64 13.16 13.61 14.08 12.21 14.57 15.91 17.38 19.19 18.16 16.75 19.33 22.16 23.04 20.53 21.28 20.97 Operating Margin %
-- -- -- -- -544 -611 -609 -594 -604 -719 -591 -653 -696 -729 -819 -991 -1,056 Interest Expense
-- -- -- -- -544 -611 -609 -594 -604 -719 -591 -653 -696 -729 -819 -991 -1,056 Net Interest Income
-409 -400 -499 -485 342 31.00 40.00 17.00 6.00 13.00 87.00 24.00 -37.00 -47.00 69.00 51.00 72.00 Other Income (Expense)
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -97.00 -39.00 Other Income (Minority Interest)
821 1,093 1,129 1,362 1,457 1,319 1,551 1,662 1,741 1,538 1,660 1,798 1,943 1,997 1,783 1,736 1,752 Pre-Tax Income
-272 -348 -389 -437 -524 -440 -548 -600 -600 -476 -568 -605 -698 -472 -401 -296 -279 Tax Provision
33.13 31.84 34.46 32.09 35.96 33.36 35.33 36.10 34.46 30.95 34.22 33.65 35.92 23.64 22.49 17.05 15.92 Tax Rate %
549 745 740 925 933 879 1,003 1,062 1,141 1,062 1,092 1,193 1,245 1,525 1,382 1,440 1,473 Net Income (Continuing Operations)
-12.00 -26.00 -3.00 4.00 274 -- -- -- -- -- -- -- -- -- -- -- -- Net Income (Discontinued
Operations)
537 719 737 929 1,207 879 1,003 1,062 1,141 1,062 1,092 1,193 1,245 1,525 1,382 1,343 1,355 Net Income
5.52 6.34 6.16 7.08 8.89 6.74 7.53 8.24 9.36 8.60 8.45 9.50 10.31 12.67 11.20 10.68 10.38 Net Margin %
12.00 11.00 -- -- 11.00 11.00 11.00 11.00 3.00 -- -- -- -- -- -- -- -- Preferred dividends
2.28 2.95 2.96 3.49 4.38 3.16 3.49 3.59 3.88 3.62 3.73 4.07 4.15 4.97 4.43 4.09 4.08 EPS (Basic)
2.27 2.94 2.95 3.47 4.37 3.14 3.47 3.57 3.86 3.61 3.71 4.05 4.12 4.94 4.42 4.08 4.07 EPS (Diluted)
236 245 250 267 274 276 286 294 295 294 294 294 302 309 313 330 333 Shares Outstanding (Diluted
Average)
551 584 621 667 717 791 840 884 955 1,024 1,071 1,130 1,216 1,341 1,438 1,684 1,684 Depreciation, Depletion and
Amortization
1,781 2,077 2,249 2,514 2,718 2,721 3,000 3,140 3,300 3,281 3,322 3,581 3,855 4,067 4,040 4,411 4,725 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ED 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
26.00 81.00 94.00 211 74.00 260 338 648 394 674 699 944 776 797 895 981 981 Cash And Cash Equivalents
-- -- -- -- -- -- -- -- 70.00 327 8.00 -- -- -- -- -- -- Marketable Securities
26.00 81.00 94.00 211 74.00 260 338 648 464 1,001 707 944 776 797 895 981 981 Cash, Cash Equivalents, Marketable
Securities
760 1,025 825 970 1,098 1,047 1,173 1,123 1,222 1,251 1,201 1,052 1,106 1,103 1,267 1,236 1,236 Accounts Receivable
307 425 466 405 516 355 348 356 330 363 372 350 339 334 358 352 352 Inventories, Other
307 425 466 405 516 355 348 356 330 363 372 350 339 334 358 352 352 Total Inventories
547 1,515 1,430 815 1,334 477 884 734 691 522 579 660 464 469 496 824 824 Other Current Assets
1,713 3,162 2,937 2,550 3,369 3,214 3,669 3,638 3,451 3,891 3,716 3,836 3,406 3,537 3,864 4,272 4,272 Total Current Assets
-- -- -- -- 356 385 403 455 467 461 816 884 1,921 2,001 1,766 2,065 2,065 Investments And Advances
1,355 772 875 1,033 1,110 1,428 1,481 1,280 1,110 1,429 1,144 1,247 1,864 2,156 2,147 2,246 2,246 Construction In Progress
20,600 21,600 23,191 24,734 25,993 27,921 29,722 31,203 33,580 35,598 37,532 40,348 43,897 46,864 51,793 55,459 55,459 Gross Property, Plant and Equipment
-4,494 -4,488 -4,746 -4,820 -5,119 -5,457 -5,859 -6,110 -6,641 -7,162 -7,705 -8,139 -8,681 -9,264 -10,044 -10,713 -10,713 Accumulated Depreciation
16,106 17,112 18,445 19,914 20,874 22,464 23,863 25,093 26,939 28,436 29,827 32,209 35,216 37,600 41,749 44,746 44,746 Property, Plant and Equipment
506 496 486 410 416 420 432 432 431 433 432 431 552 559 2,094 2,003 2,003 Intangible Assets
-- -- -- -- 411 416 429 429 429 429 429 429 428 428 440 446 446 Goodwill
4,235 4,080 4,831 5,388 8,483 7,361 7,981 9,596 9,921 7,426 9,280 8,282 7,160 4,414 4,447 4,993 4,993 Other Long Term Assets
22,560 24,850 26,699 28,262 33,498 33,844 36,348 39,214 41,209 40,647 44,071 45,642 48,255 48,111 53,920 58,079 58,079 Total Assets
920 1,234 1,126 1,187 1,161 1,173 1,151 955 1,215 1,017 1,035 1,008 1,147 1,286 1,187 1,164 1,164 Accounts Payable
-- -- -- -- 57.00 51.00 90.00 188 162 476 72.00 62.00 64.00 108 61.00 76.00 76.00 Total Tax Payable
1,620 2,544 2,381 2,202 1,357 1,380 1,396 1,394 1,624 1,834 1,334 1,303 1,462 1,642 1,486 1,495 1,495 Accounts Payable & Accrued
Expense
625 777 491 1,649 845 731 5.00 530 1,245 1,936 1,360 2,268 1,093 1,875 3,216 3,203 3,203 Current Portion of Long-Term Debt
-- -- -- -- 265 274 289 303 304 321 344 354 352 346 351 346 346 Current Deferred Revenue
-- -- -- -- 70.00 -- -- -- -- -- -- -- -- -- -- -- -- Current Deferred Taxes Liabilities
-- -- -- -- 358 274 289 303 304 321 344 354 352 346 351 346 346 DeferredTaxAndRevenue
-- -- -- -- 645 555 840 760 772 639 719 795 936 1,039 1,154 1,243 1,243 Other Current Liabilities
2,245 3,321 2,872 3,851 3,205 2,940 2,530 2,987 3,945 4,730 3,757 4,720 3,843 4,902 6,207 6,287 6,287 Total Current Liabilities
6,561 7,398 8,298 7,611 9,232 9,854 10,671 10,143 10,062 10,489 11,546 12,006 14,735 14,731 17,495 18,527 18,527 Long-Term Debt
33.00 30.00 26.00 22.00 17.00 14.00 7.00 2.00 2.00 -- -- -- -- -- -- 809 809 Capital Lease Obligation
6,594 7,428 8,324 7,633 9,249 9,868 10,678 10,145 10,064 10,489 11,546 12,006 14,735 14,731 17,495 19,336 19,336 Long-Term Debt & Capital Lease
Obligation
0.99 1.09 1.07 1.00 1.02 1.01 0.95 0.93 0.95 1.02 1.03 1.09 1.11 1.08 1.24 1.25 1.25 Debt to Equity
-- -- -- -- 4,511 3,363 3,287 5,016 4,827 1,922 4,096 3,096 2,007 1,596 1,374 1,646 1,646 PensionAndRetirementBenefit
3,726 3,644 4,095 4,465 5,034 5,641 6,815 7,627 8,567 8,636 9,129 9,736 10,420 5,791 6,119 6,506 6,506 NonCurrent Deferred Liabilities
39.00 42.00 41.00 43.00 -- -- -- 213 -- -- 9.00 9.00 8.00 7.00 113 191 191 Minority Interest
2,689 2,892 3,150 2,981 1,588 1,570 1,764 1,790 1,937 2,625 2,958 3,023 2,944 5,666 5,886 6,091 6,091 Other Long-Term Liabilities
15,254 17,285 18,441 18,930 23,587 23,382 25,074 27,565 29,340 28,402 31,486 32,581 33,949 32,686 37,081 39,866 39,866 Total Liabilities
26.00 27.00 28.00 29.00 29.00 30.00 31.00 32.00 32.00 32.00 32.00 32.00 33.00 34.00 34.00 35.00 35.00 Common Stock
213 213 213 213 -- -- -- -- -- -- -- -- -- -- -- -- -- Preferred Stock
5,451 5,605 5,804 6,113 6,685 6,904 7,220 7,568 7,997 8,338 8,691 9,123 9,559 10,235 10,728 11,100 11,100 Retained Earnings
-64.00 -89.00 -141 -103 -67.00 -42.00 -40.00 -58.00 -53.00 -25.00 -45.00 -34.00 -27.00 -26.00 -16.00 -19.00 -19.00 Accumulated other comprehensive
income (loss)
2,642 2,768 3,314 4,038 4,112 4,420 4,915 4,991 4,991 4,995 4,991 5,030 5,854 6,298 7,117 8,054 8,054 Additional Paid-In Capital
-1,001 -1,001 -1,001 -1,001 -1,001 -1,001 -1,001 -1,033 -1,037 -1,034 -1,032 -1,038 -1,038 -1,038 -1,038 -1,038 -1,038 Treasury Stock
7,267 7,523 8,217 9,289 9,911 10,462 11,274 11,436 11,869 12,245 12,576 13,052 14,298 15,418 16,726 18,022 18,022 Total Equity
0.32 0.30 0.31 0.33 0.30 0.31 0.31 0.29 0.29 0.30 0.29 0.29 0.30 0.32 0.31 0.31 0.31 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ED 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
537 719 737 929 1,207 879 1,003 1,062 1,141 1,062 1,092 1,193 1,245 1,525 1,382 1,440 1,440 Net Income
537 719 737 929 1,207 879 1,003 1,062 1,141 1,062 1,092 1,193 1,245 1,525 1,382 1,440 1,440 Net Income From Continuing
Operations
551 584 621 667 717 791 840 884 955 1,024 1,071 1,130 1,216 1,341 1,438 1,684 1,684 Depreciation, Depletion and
Amortization
57.00 -284 -62.00 67.00 -92.00 -295 81.00 105 -59.00 5.00 136 127 87.00 24.00 -175 30.00 30.00 Change In Receivables
-24.00 -100.00 -41.00 45.00 -111 161 7.00 -8.00 26.00 -33.00 -10.00 22.00 13.00 5.00 -20.00 6.00 6.00 Change In Inventory
-- -- -- -- -578 566 -210 196 -14.00 23.00 -27.00 -14.00 20.00 -19.00 -7.00 -73.00 -73.00 Change In Prepaid Assets
15.00 317 -108 64.00 -71.00 -7.00 15.00 -92.00 78.00 292 -526 -85.00 45.00 132 -130 44.00 44.00 Change In Payables And Accrued
Expense
-162 -262 -86.00 68.00 -833 545 -82.00 515 -103 487 -17.00 278 418 264 -414 -160 -160 Change In Working Capital
362 -79.00 338 335 470 436 659 491 584 40.00 518 653 783 485 408 308 308 Change In DeferredTax
23.00 -172 -256 -444 -921 -185 -39.00 185 22.00 -61.00 167 23.00 -203 -248 -119 -138 -138 Cash Flow from Others
1,311 790 1,354 1,555 640 2,466 2,381 3,137 2,599 2,552 2,831 3,277 3,459 3,367 2,695 3,134 3,134 Cash Flow from Operations
-1,418 -1,636 -1,853 -1,934 -2,326 -2,193 -2,014 -1,967 -2,069 -2,538 -2,419 -3,054 -3,680 -3,443 -3,497 -3,486 -3,486 Purchase Of Property, Plant,
Equipment
-- 534 60.00 30.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Sale Of Property, Plant, Equipment
-- -- -- -- -32.00 -- -12.00 -20.00 -309 -175 -293 -299 -1,469 -90.00 -1,755 -215 -215 Purchase Of Business
-- -- -- -- -- -- -- -- -- -- 108 -- -- -- -- -- -- Sale Of Business
-- -- -- -- -- -- -- -20.00 -- -- -- -- -- -- -- -- -- Purchase Of Investment
-- -- -- -- 1,477 -- -- 4.00 -- -- -- -- -- -- -- -- -- Sale Of Investment
-113 -172 -125 -182 -190 -167 -149 -147 -145 54.00 -155 -304 199 -177 -219 -81.00 -81.00 Cash From Other Investing Activities
-1,531 -1,274 -1,918 -2,086 -1,071 -2,360 -2,175 -2,150 -2,523 -2,659 -2,759 -3,657 -4,950 -3,710 -5,471 -3,782 -3,782 Cash Flow from Investing
578 78.00 510 685 51.00 257 306 118 -- -- -- -- 702 343 705 825 825 Issuance of Stock
-- -- -- -- -- -- -- -87.00 -- -- -- -- -- -- -- -- -- Repurchase of Stock
-- -- -- -- -- -- -- -- -239 -- -- -- -- -- -- -- -- Net Issuance of Preferred Stock
123 992 614 549 886 445 84.00 -4.00 634 1,122 719 1,376 1,380 786 3,081 948 948 Net Issuance of Debt
-490 -518 -533 -582 -629 -612 -640 -704 -712 -721 -739 -733 -763 -803 -842 -924 -924 Cash Flow for Dividends
-14.00 -13.00 -14.00 -5.00 -13.00 -10.00 122 -- -13.00 -14.00 -27.00 -14.00 26.00 31.00 -6.00 10.00 10.00 Other Financing
197 539 577 647 295 80.00 -128 -677 -330 387 -47.00 629 1,345 357 2,938 859 859 Cash Flow from Financing
-23.00 55.00 13.00 116 -136 186 78.00 310 -254 280 25.00 249 -146 14.00 162 211 211 Net Change in Cash
-1,418 -1,636 -1,853 -1,934 -2,326 -2,193 -2,014 -1,967 -2,069 -2,538 -2,419 -3,054 -3,680 -3,443 -3,497 -3,486 -3,486 Capital Expenditure
-107 -846 -499 -379 -1,686 273 367 1,170 530 14.00 412 223 -221 -76.00 -802 -352 -352 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ED 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
19.44 15.76 16.29 14.08 8.91 14.42 14.33 17.38 14.39 15.31 17.79 15.87 17.93 17.20 17.34 22.23 20.76 PE Ratio(TTM)
-- -- 239 37.69 -- 19.13 34.40 18.20 24.36 20.63 24.42 17.05 20.47 37.14 -- -- -- Price to Owner Earnings
(TTM)
1.50 1.55 1.55 1.46 1.08 1.22 1.28 1.59 1.37 1.32 1.54 1.44 1.57 1.71 1.47 1.65 1.57 Price to Book
1.62 1.67 1.65 1.53 1.12 1.27 1.33 1.65 1.42 1.37 1.59 1.49 1.63 1.77 1.68 1.86 1.76 Price to Tangible Book
-- -- -- -- -- 46.26 41.24 15.62 30.82 1,286 47.08 84.90 -- -- -- -- -- Price-to-Free-Cash-Flow
Ratio
7.91 14.37 8.93 8.37 16.64 5.10 6.01 5.82 6.29 6.38 6.86 5.77 6.44 7.80 8.90 9.54 8.91 Price-to-Operating-Cash-
Flow Ratio
1.06 1.00 1.00 1.00 0.78 0.96 1.06 1.42 1.34 1.32 1.50 1.51 1.84 2.18 1.87 2.29 2.16 PS Ratio
-- -- 2.22 1.42 2.20 4.74 -- -- 4.81 11.60 5.78 6.35 5.71 4.70 5.82 5.49 6.71 PEG Ratio
1.86 1.74 1.79 1.72 1.52 1.77 1.86 2.20 2.22 2.24 2.44 2.56 3.11 3.50 3.47 3.98 3.85 EV-to-Revenue
10.11 9.33 4.70 8.21 7.61 8.48 8.28 9.05 8.22 8.42 9.49 8.98 9.74 10.36 10.54 10.98 10.55 EV-to-EBITDA
14.67 13.21 5.52 12.24 10.34 11.96 11.50 12.60 11.56 12.23 14.01 13.13 14.22 15.46 16.66 18.48 17.76 EV-to-EBIT
6.82 7.57 18.12 8.17 9.67 8.36 8.70 7.94 8.65 8.18 7.14 7.62 7.03 6.47 6.00 5.41 5.63 Return on Capital %
-1.34 -5.22 5.25 7.32 -0.55 -1.81 -8.59 -3.70 3.68 3.91 5.85 5.73 4.40 4.24 3.16 3.57 3.54 Forward Rate of Return
13.59 14.32 14.77 14.57 11.49 13.43 14.41 17.82 15.68 15.08 17.58 16.74 18.55 20.37 18.27 21.04 19.63 Shiller PE Ratio
5.17 4.92 4.78 4.75 6.01 5.19 4.80 3.87 4.36 4.45 3.82 4.05 3.64 3.25 3.74 3.27 3.55 Dividend Yield %
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
10,610 11,364 12,376 13,294 10,661 12,771 14,455 18,168 16,266 16,190 19,333 18,831 22,472 26,335 24,544 29,810 28,191 Market Cap
18,055 19,743 21,351 22,621 20,681 23,110 24,800 28,408 27,111 27,614 31,541 32,170 37,532 42,151 44,473 51,559 49,940 Enterprise Value
43.75 46.33 48.07 48.85 38.93 45.43 49.57 62.03 55.54 55.28 66.01 64.27 73.68 84.95 76.46 90.47 84.46 Month End Stock Price
-62.95 -70.31 -71.42 -68.94 -85.86 -82.25 -84.82 -92.63 -98.60 -93.56 -105 -108 -109 -103 -113 -119 -117 Net Cash (per share)
-56.88 -58.62 -61.21 -61.13 -73.83 -71.74 -73.40 -82.42 -88.40 -83.69 -94.85 -98.14 -100 -94.05 -104 -109 -107 Net Current Asset Value
(per share)
-60.85 -67.18 -68.94 -66.31 -81.91 -78.82 -81.21 -89.15 -94.90 -89.74 -101 -105 -106 -99.68 -110 -115 -114 Net-Net Working Capital (per
share)
28.99 20.26 18.38 15.72 7.97 11.55 15.81 26.96 33.76 36.84 49.15 50.00 48.40 44.00 40.10 39.40 39.40 Projected FCF (per share)
41.62 46.87 47.55 48.49 47.99 44.30 44.64 42.85 40.71 42.59 46.13 45.93 51.33 51.88 56.88 57.42 57.42 Median PS (per share)
-- -- 21.62 34.46 17.71 23.25 22.52 18.81 -- 19.89 -- -- -- -- -- -- -- Peter Lynch Fair Value (per
share)
38.10 43.59 44.10 49.79 51.20 50.24 53.88 54.94 58.24 57.24 58.83 62.65 64.64 72.99 67.33 66.81 66.36 Graham Number (per share)
-42.33 -48.95 -38.47 -37.76 -40.08 -44.66 -39.54 -49.69 -48.27 -47.85 -50.38 -62.21 -77.92 -86.50 -106 -108 -108 Earnings Power Value
(EPV)
1.28 1.30 1.27 1.29 1.02 1.20 1.22 1.20 1.07 1.09 1.11 1.06 1.09 1.18 1.02 1.06 1.03 Altman Z-Score
4.00 6.00 5.00 6.00 4.00 6.00 6.00 5.00 6.00 3.00 7.00 6.00 6.00 6.00 4.00 6.00 6.00 Piotroski F-Score
0.69 0.70 0.68 0.69 0.71 0.62 0.64 0.60 0.58 0.57 0.61 0.60 0.64 0.65 0.76 0.74 0.71 Scaled Net Operating
Assets
3.36 4.84 4.87 5.17 4.89 2.28 2.19 0.19 2.58 2.88 2.31 3.45 5.67 3.88 7.71 3.43 3.45 Sloan Ratio (%)
0.76 0.95 1.02 0.66 1.05 1.09 1.45 1.22 0.87 0.82 0.99 0.81 0.89 0.72 0.62 0.68 0.68 Current Ratio
0.63 0.82 0.86 0.56 0.89 0.97 1.31 1.10 0.79 0.75 0.89 0.74 0.80 0.65 0.56 0.62 0.62 Quick Ratio
45.59 49.24 49.13 52.63 48.85 46.13 51.00 62.59 64.94 63.66 68.50 71.40 81.67 89.66 84.95 94.65 95.10 Highest Stock Price
37.26 41.41 41.40 43.65 37.53 32.70 41.66 48.85 54.10 54.33 52.46 57.21 64.27 72.64 71.39 74.45 77.80 Lowest Stock Price
-7.38 -1.14 -4.96 -5.70 -0.63 -2.66 -3.73 -0.44 0.01 -- -- -0.04 -4.10 -1.64 -3.55 -2.65 -3.77 Shares Buyback Ratio (%)
-7.10 12.43 3.10 2.70 1.14 -4.99 -1.19 -6.09 -5.45 1.40 4.72 -2.96 -6.21 -2.58 1.18 -3.21 -3.31 YoY Rev. per Sh. Growth
(%)
-4.62 29.52 0.34 17.63 25.94 -28.15 10.51 2.88 8.12 -6.48 2.77 9.16 1.73 19.90 -10.53 -7.69 -7.71 YoY EPS Growth (%)
-15.42 12.47 5.86 4.67 5.62 -0.87 6.55 1.65 5.05 -0.54 1.38 7.66 4.97 3.14 -1.97 3.69 6.29 YoY EBITDA Growth (%)
-1.63 -3.96 7.28 9.96 5.27 3.04 -5.14 -3.47 2.99 1.32 3.08 2.50 3.14 3.66 2.98 4.05 3.10 EBITDA 5-Y Growth (%)
230 244 249 266 273 275 284 293 293 293 293 293 300 307 312 329 332 Shares Outstanding (Basic
Average)
243 245 257 272 274 281 292 293 293 293 293 293 305 310 321 330 332 Shares Outstanding (EOP)
0.14 0.58 0.33 0.23 0.22 0.29 0.32 0.21 0.06 -0.10 0.25 0.13 0.01 -0.12 0.20 0.19 0.20 Beta
02/25/05 02/22/06 02/21/07 02/22/08 02/23/09 02/22/10 02/22/11 02/21/12 02/21/13 02/21/14 02/19/15 02/18/16 02/16/17 02/15/18 02/21/19 02/20/20 Filing Date
02/22/06 02/21/07 02/22/08 02/23/09 02/22/11 02/22/11 02/21/13 02/21/14 02/19/15 02/18/16 02/16/17 02/15/18 02/21/19 02/20/20 02/20/20 02/20/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ED 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/ED 7/7
Henry Schein Inc (NAS:HSIC) 03/03/2020 2:30PM EST GuruFocus
Price: $ 60.31 -2.61(-4.15%) Market Cap: $ 8.65 B Enterprise Value: $10.17 B Stock PDF
Financial Strength : 6/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 12.86
Cash to Debt 0.11 Operating margin (%) 7.34
Forward P/E N/A
Equity to Asset 0.42 Net-margin (%) 6.96
PE(NRI) 12.78
Interest Coverage 14.43 ROE (%) 24.10
F-Score:
P/B 2.97
ROA (%) 9.39
7 P/S 0.90
Z-Score: ROC (Joel Greenblatt) (%) 36.06
4.08 PFCF 15.45
Revenue Growth (3Y)(%) -1.80
M-Score: POCF 13.64
-2.29 EBITDA Growth (3Y)(%) 1.60
EV-to-EBIT 13.91
WACC vs 5.38% EPS Growth (3Y)(%) 14.80
ROIC 11.51% PEG 10.23
WACC
ROIC Shiller P/E 20.28
Current Ratio 1.58
Quick Ratio 0.88
Days Inventory 73.47
Days Sales Outstanding 45.55
Warning Signs Quarterly Revenues Company Description
Valuation: Forward PE Ratio Mar Jun Sep Dec Full Year Henry Schein is the largest wholesalers of dental and medical products to office-based practitioners. The company
has been established for more than 86 years and operates across 30 distribution centers to offer approximately
2016 2,713 2,873 2,865 3,121 11,572 300,000 products to customers over 31 countries. Henry Schein also offers dental practice management products that
2017 2,923 3,059 3,161 -260 8,883 include software products, technical, financial, and educational services. Most recently, the company spun off its
Good Signs 2018 2,273 2,316 2,356 2,473 9,418
Animal Health business.... (Read More)
Competitors: HKSE:01099 , XKRX:091990 , SHSE:601607 , HAM:CLS1 , TSE:2784 , TSE:7459 , SHSE:600739 ,
Piotroski F-Score: High 2019 2,360 2,448 2,509 2,669 9,986 XSWX:GALE, TSE:9987, SZSE:000028, NZSE:EBO, SHSE:600056, NAS:PDCO, NYSE:PBH, NYSE:CAH,
2020 OSTO:ARJO B, LSE:CLIN, TSE:7476, SZSE:002589, SHSE:603368
Operating Margin %:
Expansion Quarterly Earnings per Share Insider Trades
PE Ratio: Close to 5-year low Mar Jun Sep Dec Full Year
2016 0.69 0.73 0.82 0.87 3.10
PB Ratio: Close to 1-year low 2017 0.88 0.86 0.87 -0.06 2.55
PS Ratio: Close to 2-year low 2018 0.91 0.92 0.79 0.87 3.49
2019 0.73 0.77 0.95 2.24 4.69
2020
DCF
Quarterly Dividends Per Share
GuruFocus does not
calculate intrinsic value: DCF Mar Jun Sep Dec Full Year
(Earnings Based) for 2016 0.00 0.00 0.00 0.00 0.00
companies with one star 2017 0.00 0.00 0.00 0.00 0.00
predictability or not rated. But 2018 0.00 0.00 0.00 0.00 0.00
you can go to each stock's 2019 0.00 0.00 0.00 0.00 0.00
DCF page to calculate 2020
yourself. Growth Rate
Annual Rates(per share) 10-Y 5-Y 12-M
Reverse DCF
Revenue Growth (%) 5.80 0.50 9.20
GuruFocus does not
EBITDA Growth (%) 6.20 1.30 24.70
calculate reverse DCF growth
rate for companies with one Free Cash Flow Growth (%) 7.40 5.30 -3.00
star predictability or not rated. Book Value Growth (%) 5.20 3.70 2.70
But you can go to each EPS Growth (%) 7.20 6.40 67.50
stock's DCF page to calculate
yourself.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HSIC 1/7
Per Share Data
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.00 25.57 28.10 32.38 34.97 36.10 40.35 46.05 49.76 54.56 60.48 63.18 70.68 56.15 61.27 66.90 67.01 Revenue per Share
0.69 1.82 2.05 2.65 2.79 3.08 3.41 3.86 4.23 4.68 5.16 5.38 5.85 5.15 4.92 6.14 6.15 EBITDA per Share
0.54 1.48 1.69 2.24 2.36 2.63 2.87 3.24 3.54 3.95 4.28 4.44 4.81 4.30 3.99 4.90 4.91 EBIT per Share
0.33 0.79 0.91 1.18 1.32 1.72 1.75 1.99 2.16 2.47 2.72 2.85 3.10 2.57 3.49 4.65 4.69 Earnings per Share (diluted)
0.32 0.85 1.02 1.30 1.36 1.71 1.75 1.99 2.16 2.47 2.72 2.85 3.10 1.85 2.80 4.69 4.72 eps without NRI
0.36 0.99 1.06 0.87 1.58 1.77 1.50 2.34 1.60 2.94 2.64 2.72 2.86 2.08 2.80 5.87 5.87 Owner Earnings per Share (TTM)
0.41 1.15 0.94 1.17 1.83 1.91 1.91 2.75 1.99 3.45 2.98 3.23 3.50 3.05 3.99 3.87 3.90 Free Cashflow per Share
6.38 7.17 8.31 9.93 9.92 11.93 13.12 13.52 14.88 16.26 16.75 17.50 17.59 18.29 19.56 20.09 20.36 Book Value per Share
2.02 2.87 2.97 3.74 3.55 5.36 3.16 2.92 3.13 4.28 1.70 2.33 0.96 -1.04 3.33 -0.25 -0.25 Tangible Book per Share
3.09 3.01 2.82 2.55 2.34 1.48 2.40 2.45 3.04 2.83 4.35 4.91 7.68 10.84 12.81 6.69 6.78 Total Debt per Share
13.65 17.10 19.46 24.07 14.38 20.62 24.06 25.25 31.52 44.78 53.36 62.00 59.46 54.78 61.55 66.72 60.31 Month End Stock Price
Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
11.07 11.87 12.04 13.24 13.48 15.82 14.25 15.18 15.38 15.99 16.65 16.82 17.85 14.50 18.57 23.32 24.10 Return on Equity %
5.49 5.57 5.99 6.95 6.93 8.37 7.77 7.92 7.70 7.88 7.92 7.58 7.64 5.56 6.55 8.88 9.39 Return on Assets %
27.92 35.28 39.04 46.83 46.18 51.13 51.27 51.19 48.45 48.84 49.72 46.38 45.36 33.93 27.93 36.41 36.06 Return on Capital %
9.39 11.39 12.45 13.77 15.38 16.96 14.13 13.87 15.19 15.79 15.21 15.34 15.35 8.31 11.39 11.28 11.51 Return on Invested Capital %
3.37 7.84 8.12 6.65 7.02 7.58 7.19 5.15 6.22 9.10 8.37 8.30 7.80 6.72 7.09 6.03 5.38 Weighted Average Cost Of Capital (WACC) %
-- -- -- 5.20 7.91 6.81 9.49 6.88 6.34 5.41 3.95 3.38 3.14 3.54 4.22 3.46 3.48 Effective Interest Rate on Debt %
27.05 28.91 29.16 29.07 29.38 29.32 28.84 28.35 28.05 27.78 28.07 28.29 27.88 30.92 30.91 30.95 30.95 Gross Margin %
4.93 5.80 6.02 6.57 6.94 7.14 7.09 6.82 7.09 7.08 6.90 7.23 7.06 7.60 7.36 7.34 7.34 Operating Margin %
3.00 3.09 3.24 3.64 3.75 4.76 4.33 4.31 4.34 4.51 4.49 4.51 4.38 4.57 5.69 6.96 6.96 Net Margin %
3.71 4.51 3.33 3.61 5.23 5.28 4.74 5.97 3.99 6.32 4.92 5.12 4.95 5.44 6.51 5.79 5.79 FCF Margin %
0.48 0.42 0.34 0.26 0.24 0.12 0.18 0.18 0.20 0.17 0.26 0.28 0.44 0.59 0.66 0.33 0.33 Debt to Equity
0.45 0.48 0.51 0.54 0.49 0.56 0.53 0.51 0.49 0.50 0.46 0.44 0.41 0.36 0.35 0.42 0.42 Total Equity to Total Asset
0.22 0.20 0.17 0.14 0.12 0.07 0.10 0.09 0.10 0.09 0.12 0.12 0.18 0.21 0.23 0.14 0.14 Total Debt to Total Asset
49.59 52.16 53.88 55.42 54.22 51.56 51.79 52.07 49.78 48.47 49.50 47.57 48.65 37.56 35.57 39.50 41.76 Gross Profit to Total Asset %
1.83 1.80 1.85 1.91 1.85 1.76 1.80 1.84 1.78 1.75 1.76 1.68 1.75 1.22 1.15 1.28 1.35 Asset Turnover
51.93 46.99 44.11 43.79 41.99 40.49 42.95 38.01 41.45 40.29 39.68 42.23 39.56 62.57 45.30 45.55 45.55 Days Sales Outstanding
47.13 42.13 42.26 41.31 44.94 41.15 40.21 37.11 44.69 43.59 42.13 48.16 44.05 68.58 44.08 46.60 46.60 Days Accounts Payable
55.98 56.27 55.61 54.51 56.64 59.50 56.07 54.28 61.04 64.86 63.07 67.94 69.45 107 93.94 75.29 73.47 Days Inventory
60.78 61.13 57.46 56.99 53.69 58.84 58.81 55.18 57.80 61.56 60.62 62.01 64.96 101 95.16 74.24 72.42 Cash Conversion Cycle
6.52 6.49 6.56 6.70 6.44 6.13 6.51 6.72 5.98 5.63 5.79 5.37 5.26 3.41 3.89 4.85 4.97 Inventory Turnover
0.73 0.71 0.71 0.71 0.71 0.71 0.71 0.72 0.72 0.72 0.72 0.72 0.72 0.69 0.69 0.69 0.69 COGS to Revenue
0.11 0.11 0.11 0.11 0.11 0.12 0.11 0.11 0.12 0.13 0.12 0.13 0.14 0.20 0.18 0.14 0.14 Inventory to Revenue
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HSIC 2/7
Income Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
3,898 4,526 5,048 5,904 6,380 6,538 7,527 8,530 8,940 9,561 10,371 10,630 11,572 8,883 9,418 9,986 9,986 Revenue
2,844 3,218 3,576 4,188 4,506 4,622 5,356 6,112 6,432 6,905 7,460 7,623 8,345 6,137 6,507 6,895 6,895 Cost of Goods Sold
1,054 1,308 1,472 1,717 1,874 1,917 2,171 2,418 2,508 2,656 2,911 3,007 3,226 2,747 2,911 3,091 3,091 Gross Profit
27.05 28.91 29.16 29.07 29.38 29.32 28.84 28.35 28.05 27.78 28.07 28.29 27.88 30.92 30.91 30.95 30.95 Gross Margin %
862 1,046 1,168 1,329 1,432 1,450 1,637 1,836 1,873 1,979 2,196 2,238 2,409 2,072 2,217 2,358 2,358 Selling, General, & Admin. Expense
-0.00 -- 0.00 0.00 0.00 -- 0.00 -0.00 -- 0.00 0.00 0.00 0.00 -0.00 -0.00 -0.00 0.00 Other Operating Expense
192 262 304 388 443 467 533 582 634 677 715 769 817 675 693 733 733 Operating Income
4.93 5.80 6.02 6.57 6.94 7.14 7.09 6.82 7.09 7.08 6.90 7.23 7.06 7.60 7.36 7.34 7.34 Operating Margin %
-- -- -- 16.53 16.36 9.98 14.10 15.59 13.39 12.85 13.66 12.94 13.28 12.44 15.49 15.76 15.76 Interest Income
-- -- -- -24.84 -34.61 -23.37 -33.64 -30.38 -30.90 -27.54 -24.06 -26.01 -31.89 -51.07 -76.02 -50.79 -50.79 Interest Expense
-- -- -- -8.31 -18.25 -13.39 -19.54 -14.78 -17.51 -14.69 -10.40 -13.07 -18.62 -38.63 -60.53 -35.04 -35.04 Net Interest Income
-11.12 -16.37 -9.20 4.63 -28.83 -0.99 -11.84 1.94 -12.46 2.32 4.57 -35.07 -43.01 -6.66 -96.11 -17.62 -17.62 Other Income (Expense)
-1.49 -5.96 -8.09 -17.44 -21.92 -22.00 -26.34 -37.00 -35.31 -39.91 -39.36 -44.37 -49.62 -52.99 -26.25 -24.40 -24.40 Other Income (Minority Interest)
181 246 295 384 395 453 502 569 604 665 709 721 756 630 537 680 680 Pre-Tax Income
-67.02 -90.19 -105 -131 -131 -128 -160 -180 -188 -191 -216 -211 -218 -309 -107 -160 -160 Tax Provision
37.01 36.66 35.58 33.99 33.18 28.17 31.88 31.65 31.09 28.72 30.40 29.33 28.84 49.06 20.01 23.45 23.45 Tax Rate %
114 151 183 254 269 330 352 405 423 471 505 523 556 318 450 725 725 Net Income (Continuing Operations)
2.57 -10.96 -18.99 -20.97 -7.90 2.72 -- -- -- -12.54 -- -- -- 141 112 -6.32 -6.32 Net Income (Discontinued
Operations)
117 140 164 215 239 311 326 368 388 432 466 479 507 406 536 695 695 Net Income
3.00 3.09 3.24 3.64 3.75 4.76 4.33 4.31 4.34 4.51 4.49 4.51 4.38 4.57 5.69 6.96 6.96 Net Margin %
0.34 0.81 0.93 1.22 1.35 1.75 1.81 2.04 2.22 2.51 2.77 2.89 3.14 2.59 3.51 4.70 4.73 EPS (Basic)
0.33 0.79 0.91 1.18 1.32 1.72 1.75 1.99 2.16 2.47 2.72 2.85 3.10 2.57 3.49 4.65 4.69 EPS (Diluted)
355 177 180 182 182 181 187 185 180 175 171 168 164 158 154 149 147 Shares Outstanding (Diluted
Average)
51.33 60.35 64.93 73.94 78.13 81.49 101 116 125 128 152 159 170 134 144 185 185 Depreciation, Depletion and
Amortization
244 323 369 483 508 558 637 716 760 820 886 906 958 815 756 916 916 EBITDA
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HSIC 3/7
Balance Sheet
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
187 211 249 248 370 471 150 147 122 189 89.47 72.09 62.38 175 56.89 106 106 Cash And Cash Equivalents
-- 124 48.00 1.00 -- -- -- -- -- -- -- -- -- -- -- -- -- Marketable Securities
187 335 297 249 370 471 150 147 122 189 89.47 72.09 62.38 175 56.89 106 106 Cash, Cash Equivalents, Marketable
Securities
555 583 610 708 734 725 886 888 1,015 1,055 1,128 1,230 1,254 1,523 1,169 1,246 1,246 Accounts Receivable
486 506 584 667 732 775 870 948 1,204 1,250 1,328 1,510 1,666 1,934 1,416 1,429 1,429 Inventories, Other
486 506 584 667 732 775 870 948 1,204 1,250 1,328 1,510 1,666 1,934 1,416 1,429 1,429 Total Inventories
203 162 154 225 231 232 263 289 364 340 368 419 361 455 1,534 445 445 Other Current Assets
1,431 1,584 1,645 1,849 2,066 2,204 2,169 2,273 2,704 2,835 2,913 3,231 3,343 4,086 4,175 3,227 3,227 Total Current Assets
-- -- -- 108 148 182 295 299 293 462 386 455 443 432 261 165 165 Investments And Advances
7.94 8.90 10.39 11.91 12.38 12.64 13.15 13.24 13.53 19.98 19.17 18.76 19.44 21.02 17.99 18.03 18.03 Land And Improvements
71.15 85.06 108 79.71 80.03 97.98 98.50 104 113 113 119 118 127 143 127 122 122 Buildings And Improvements
232 237 294 325 349 386 342 388 430 470 526 570 623 720 656 555 555 Machinery, Furniture, Equipment
311 331 412 471 498 557 512 570 627 676 749 797 865 990 905 1,030 1,030 Gross Property, Plant and Equipment
-135 -140 -187 -223 -250 -297 -260 -308 -354 -400 -438 -478 -531 -615 -591 -469 -469 Accumulated Depreciation
176 191 225 248 248 260 253 262 273 276 311 318 334 375 314 561 561 Property, Plant and Equipment
757 750 945 1,110 1,137 1,191 1,830 1,907 2,063 2,052 2,528 2,501 2,641 2,971 2,458 3,035 3,035 Intangible Assets
-- 627 774 917 923 986 1,425 1,497 1,601 1,635 1,884 1,908 2,020 2,301 2,081 2,463 2,463 Goodwill
70.32 57.89 66.54 -0.00 0.00 0.00 -0.00 0.00 0.00 0.00 -0.00 -- -0.00 -0.00 1,292 163 163 Other Long Term Assets
2,434 2,583 2,881 3,314 3,599 3,836 4,547 4,740 5,334 5,625 6,139 6,505 6,760 7,864 8,501 7,151 7,151 Total Assets
367 371 414 474 555 521 590 621 788 824 861 1,006 1,007 1,153 786 880 880 Accounts Payable
-- -- -- -- -- 86.03 91.58 121 133 145 151 162 152 189 155 165 165 Total Tax Payable
684 689 767 907 1,022 1,052 1,122 1,194 1,428 1,516 1,591 1,801 1,817 2,071 1,681 1,839 1,839 Accounts Payable & Accrued
Expense
9.88 35.11 43.56 33.30 161 24.49 46.00 77.83 45.16 34.95 189 346 503 758 960 199 199 Current Portion of Long-Term Debt
-- -- -- -- -- -- -- -- 0.00 -- 0.00 -0.00 -- -- 578 -- -- Other Current Liabilities
694 724 810 941 1,184 1,076 1,168 1,272 1,473 1,551 1,780 2,147 2,321 2,829 3,219 2,038 2,038 Total Current Liabilities
526 490 456 423 257 243 395 364 488 450 543 464 715 908 980 623 623 Long-Term Debt
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 176 176 Capital Lease Obligation
526 490 456 423 257 243 395 364 488 450 543 464 715 908 980 799 799 Long-Term Debt & Capital Lease
Obligation
0.48 0.42 0.34 0.26 0.24 0.12 0.18 0.18 0.20 0.17 0.26 0.28 0.44 0.59 0.66 0.33 0.33 Debt to Equity
66.60 54.43 62.33 80.26 95.40 101 190 189 197 199 253 253 51.59 50.43 27.22 64.99 64.99 NonCurrent Deferred Liabilities
12.44 12.35 21.75 35.92 0.26 179 305 1.40 2.28 2.80 2.85 2.56 7.74 12.91 580 632 632 Minority Interest
29.00 53.55 60.21 53.91 291 75.30 76.75 483 560 637 746 754 872 1,252 732 618 618 Other Long-Term Liabilities
1,315 1,322 1,388 1,498 1,827 1,496 1,830 2,307 2,718 2,837 3,322 3,618 3,960 5,040 4,959 3,521 3,521 Total Liabilities
0.87 0.87 0.89 0.90 0.89 0.91 0.92 0.90 0.88 0.86 0.84 0.82 1.59 1.54 1.51 1.43 1.43 Common Stock
615 668 808 1,005 1,181 1,493 1,779 2,007 2,184 2,398 2,643 2,896 2,982 2,940 3,209 3,116 3,116 Retained Earnings
44.35 21.06 47.36 100 29.72 64.19 30.51 22.58 52.86 67.85 -95.13 -220 -317 -130 -249 -167 -167 Accumulated other comprehensive
income (loss)
446 559 615 674 560 604 601 401 376 318 265 207 127 -- -- 47.77 47.77 Additional Paid-In Capital
1,106 1,249 1,471 1,780 1,772 2,161 2,412 2,432 2,614 2,785 2,814 2,884 2,793 2,811 2,961 2,998 2,998 Total Equity
0.45 0.48 0.51 0.54 0.49 0.56 0.53 0.51 0.49 0.50 0.46 0.44 0.41 0.36 0.35 0.42 0.42 Total Equity to Total Asset
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HSIC 4/7
Cashflow Statement
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
117 140 164 215 261 333 352 405 423 471 505 523 556 318 450 725 725 Net Income
117 140 164 215 261 333 352 405 423 471 505 523 556 318 450 725 725 Net Income From Continuing
Operations
51.33 60.35 64.93 73.94 78.13 81.49 101 116 125 128 152 159 170 134 144 185 185 Depreciation, Depletion and
Amortization
-35.08 -14.00 -9.71 -21.96 -26.83 20.45 -76.13 36.20 -73.93 -45.11 -81.44 -120 -7.66 -128 -127 -72.69 -72.69 Change In Receivables
-28.61 6.48 -41.96 -15.95 -68.36 -19.24 -21.31 -44.16 -194 -48.09 -71.90 -195 -105 -143 -41.04 14.70 14.70 Change In Inventory
67.87 1.44 -11.88 13.57 89.58 -29.83 26.92 17.28 116 78.59 49.28 241 7.23 81.51 191 161 161 Change In Payables And Accrued
Expense
-18.11 13.71 -45.12 -82.53 5.65 -28.26 -97.16 -1.17 -214 1.14 -144 -132 -128 -291 -143 45.57 45.57 Change In Working Capital
6.61 -3.87 1.30 -7.40 -- -- -6.05 -19.32 23.57 -12.54 21.51 0.25 -31.05 136 -47.18 -2.12 -2.12 Change In DeferredTax
-- -- -- 26.66 30.09 31.23 29.91 36.93 37.31 35.53 45.88 44.61 58.25 36.85 32.62 44.92 44.92 Stock Based Compensation
25.96 44.84 31.09 -20.28 1.06 -20.73 15.44 17.63 12.54 40.55 11.91 20.06 17.07 41.00 14.10 -178 -178 Cash Flow from Others
183 255 235 270 385 397 395 555 408 664 593 616 643 546 654 Cash Flow from Operations
685 654
-37.84 -50.83 -67.00 -56.82 -50.87 -51.63 -39.00 -45.18 -51.24 -60.22 -82.12 -71.68 -70.18 -62.40 -71.28 -76.22 -76.22 Purchase Of Property, Plant,
Equipment
-- -- -- -206 -128 -56.65 -353 -149 -220 -196 -424 -172 -229 -181 -53.24 -656 -656 Purchase Of Business
-- -- -- 15.83 -- 12.72 -- -- -- -- -- -- -- 34.05 1.00 307 10.50 Sale Of Business
-- -161 -222 -115 -35.93 -- -26.98 -- -- -- -- -- -- -- -- -- -- Purchase Of Investment
14.47 37.43 298 163 5.72 9.96 32.98 2.60 9.23 -- 3.25 0.02 -- 34.05 -- -- -- Sale Of Investment
-- -- -- -- -- -- -- -- -- -- -- -- -- -130 -28.63 -2.06 -8.41 Cash From Discontinued Investing
Activities
-148 -31.84 -189 -42.87 41.53 -11.84 -2.02 -1.24 -7.35 -10.66 -13.49 -16.51 -17.67 -37.02 -40.80 2.54 299 Cash From Other Investing Activities
-172 -207 -180 -242 -168 -97.45 -388 -193 -270 -267 -517 -260 -316 -342 -193 -424 -424 Cash Flow from Investing
21.43 29.50 35.62 35.46 -- -- -- -- -- -- -- -- -- -- -- 361 361 Issuance of Stock
-82.21 -52.28 -40.26 -30.69 -82.79 -- -57.74 -200 -300 -300 -300 -300 -550 -450 -200 -525 -525 Repurchase of Stock
93.58 -12.01 -33.15 -46.21 -40.92 -159 -163 -17.31 82.23 -49.02 239 78.97 344 444 301 -1,188 -1,188 Net Issuance of Debt
1.95 6.28 16.52 45.78 35.74 -38.87 -110 -140 47.06 13.30 -93.68 -127 -121 -107 -705 1,136 1,136 Other Financing
34.75 -28.50 -21.27 -31.12 -87.97 -198 -331 -357 -171 -336 -155 -348 -327 -113 -604 -216 -216 Cash Flow from Financing
29.27 24.06 37.96 -1.06 122 102 -321 -3.06 -25.20 66.54 -99.14 -17.39 -9.71 112 -94.45 25.89 25.89 Net Change in Cash
-37.84 -50.83 -67.00 -56.82 -50.87 -51.63 -39.00 -45.18 -51.24 -60.22 -82.12 -71.68 -70.18 -62.40 -71.28 -76.22 -76.22 Capital Expenditure
145 204 168 213 334 345 356 509 357 604 510 544 572 483 613 578 578 Free Cash Flow
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HSIC 5/7
Valuation Ratios
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
31.47 21.65 21.50 20.49 10.94 12.02 13.79 12.72 14.63 18.17 19.65 21.75 19.18 21.48 17.64 14.23 12.86 PE Ratio(TTM)
38.02 17.36 18.41 27.57 9.08 11.67 16.01 10.79 19.70 15.24 20.24 22.80 20.80 26.34 22.01 11.37 10.30 Price to Owner Earnings
(TTM)
2.14 2.38 2.34 2.42 1.45 1.73 1.83 1.87 2.12 2.75 3.19 3.54 3.38 2.99 3.15 3.32 2.97 Price to Book
6.77 5.97 6.55 6.43 4.05 3.85 7.61 8.64 10.06 10.46 31.37 26.63 62.07 -- 18.50 -- -- Price to Tangible Book
22.16 14.86 20.97 20.68 7.79 10.87 12.64 9.12 15.82 12.93 17.85 19.11 16.91 17.86 15.40 17.09 15.45 Price-to-Free-Cash-Flow
Ratio
18.30 11.89 14.97 16.33 6.76 9.45 11.38 8.38 13.84 11.76 15.38 16.89 15.07 15.82 13.79 15.10 13.64 Price-to-Operating-Cash-
Flow Ratio
0.99 0.67 0.69 0.74 0.41 0.57 0.60 0.55 0.63 0.82 0.88 0.98 0.84 0.98 1.00 1.00 0.90 PS Ratio
2.24 1.56 1.38 1.06 0.46 0.51 1.00 1.08 1.49 1.59 1.82 2.22 2.23 3.00 68.45 -- 10.23 PEG Ratio
0.68 0.70 0.72 0.77 0.41 0.57 0.67 0.57 0.67 0.83 0.93 1.03 0.92 1.12 1.25 1.14 1.02 EV-to-Revenue
11.06 9.86 9.93 9.43 5.15 6.66 7.88 6.76 7.83 9.71 10.85 12.10 11.08 12.07 15.58 12.39 11.09 EV-to-EBITDA
13.96 12.12 12.05 11.14 6.09 7.80 9.37 8.07 9.37 11.51 13.10 14.68 13.47 14.57 19.23 15.52 13.91 EV-to-EBIT
7.16 8.25 8.30 8.98 16.42 12.82 10.67 12.39 10.67 8.69 7.63 6.81 7.42 6.86 5.20 6.44 7.17 Return on Capital %
18.49 17.58 18.32 21.48 28.35 26.75 20.55 19.63 16.44 16.96 15.81 14.59 13.95 13.17 5.97 4.76 5.09 Forward Rate of Return
39.48 41.84 40.31 38.78 19.36 22.72 22.56 20.55 22.70 28.51 29.88 31.15 26.66 22.71 23.17 22.43 20.28 Shiller PE Ratio
Valuation and Quality
Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
2,366 2,979 3,444 4,314 2,570 3,738 4,424 4,541 5,538 7,668 8,965 10,220 9,443 8,419 9,319 9,958 8,648 Market Cap
2,727 3,181 3,669 4,557 2,618 3,713 5,021 4,837 5,952 7,968 9,610 10,960 10,607 9,923 11,782 11,483 10,172 Enterprise Value
13.65 17.10 19.46 24.07 14.38 20.62 24.06 25.25 31.52 44.78 53.36 62.00 59.46 54.78 61.55 66.72 60.31 Month End Stock Price
-6.58 -5.74 -6.29 -7.17 -8.16 -6.64 -10.80 -12.01 -14.79 -15.48 -19.26 -21.53 -24.59 -31.74 -36.21 -27.11 -27.48 Net Cash (per share)
0.60 1.44 1.33 1.76 1.34 2.92 0.18 -0.20 -0.09 -0.03 -2.45 -2.36 -3.93 -6.29 -9.01 -6.21 -6.29 Net Current Asset Value
(per share)
-2.78 -1.78 -2.06 -2.35 -3.03 -1.50 -4.82 -5.67 -7.03 -7.21 -10.27 -11.35 -13.42 -18.02 -25.75 -16.07 -16.28 Net-Net Working Capital (per
share)
5.01 16.77 18.01 19.94 24.03 28.85 30.98 35.73 38.46 46.34 50.63 52.07 55.14 45.58 50.03 51.85 51.85 Projected FCF (per share)
-- 14.80 17.35 22.37 24.36 25.11 28.05 32.34 34.07 38.18 42.43 44.33 50.07 39.47 49.31 57.07 57.07 Median PS (per share)
6.09 10.97 14.11 22.81 31.50 40.66 24.12 23.34 21.18 28.13 29.32 27.96 26.69 18.23 18.93 -- -- Peter Lynch Fair Value (per
share)
3.83 7.40 8.24 10.44 10.41 14.33 11.14 11.42 12.34 15.41 10.20 12.22 8.17 -- 14.48 -- -- Graham Number (per share)
4.76 12.41 14.99 17.91 22.65 27.63 28.23 33.36 36.73 42.29 44.29 48.19 51.31 29.35 29.32 39.15 39.15 Earnings Power Value
(EPV)
3.68 4.16 4.41 4.75 3.77 4.51 4.31 4.24 4.14 4.60 4.53 4.53 4.33 3.13 3.14 4.22 4.08 Altman Z-Score
4.00 7.00 7.00 6.00 6.00 6.00 4.00 5.00 7.00 5.00 7.00 6.00 5.00 6.00 6.00 7.00 7.00 Piotroski F-Score
-2.40 -2.71 -2.40 -2.38 -2.61 -2.54 -2.23 -2.65 -2.40 -2.62 -2.53 -2.51 -2.55 -2.31 -2.71 -2.29 -2.29 Beneish M-Score
0.81 0.60 0.66 0.70 0.55 0.59 0.78 0.60 0.64 0.58 0.62 0.59 0.61 0.64 0.69 0.53 0.64 Scaled Net Operating
Assets
4.36 3.55 3.78 5.64 0.63 0.31 6.99 0.13 4.68 0.60 6.36 1.90 2.67 2.58 0.52 6.50 6.50 Sloan Ratio (%)
2.06 2.19 2.03 1.97 1.75 2.05 1.86 1.79 1.84 1.83 1.64 1.50 1.44 1.44 1.30 1.58 1.58 Current Ratio
1.36 1.49 1.31 1.26 1.13 1.33 1.11 1.04 1.02 1.02 0.89 0.80 0.72 0.76 0.86 0.88 0.88 Quick Ratio
15.53 17.87 20.49 24.82 24.65 22.15 24.45 29.36 32.23 45.16 54.04 62.91 71.25 73.13 70.87 72.06 73.99 Highest Stock Price
11.29 12.93 17.10 18.14 12.96 13.42 20.11 23.33 25.25 31.52 43.20 50.37 56.50 52.13 49.73 57.40 56.58 Lowest Stock Price
1.00 -0.51 -1.62 -1.25 0.28 -1.43 -1.44 2.19 2.31 2.54 1.89 1.90 3.66 3.22 1.49 1.42 2.73 Shares Buyback Ratio (%)
22.68 133 9.89 15.24 7.99 3.23 11.77 14.13 8.07 9.63 10.86 4.46 11.87 -20.56 9.12 9.19 9.35 YoY Rev. per Sh. Growth
(%)
-8.33 139 15.19 29.67 11.44 30.80 1.45 13.75 8.82 14.12 10.34 4.78 8.77 -17.10 35.80 33.24 34.38 YoY EPS Growth (%)
-9.01 166 12.61 28.97 5.13 10.56 10.88 13.15 9.58 10.58 10.32 4.26 8.62 -11.94 -4.43 24.69 24.89 YoY EBITDA Growth (%)
14.03 12.90 13.90 17.68 23.16 23.85 13.82 11.76 9.83 11.41 10.80 9.81 8.61 7.15 0.31 -0.73 1.30 EBITDA 5-Y Growth (%)
349 174 176 177 178 178 180 180 175 172 169 166 162 157 153 148 145 Shares Outstanding (Basic
Average)
173 174 177 179 179 181 184 180 176 171 168 165 159 154 151 149 147 Shares Outstanding (EOP)
-0.06 0.79 0.77 0.56 0.85 0.68 0.68 0.56 0.77 1.07 1.10 1.08 0.98 0.87 0.92 0.79 0.78 Beta
03/04/05 03/10/06 02/28/07 02/26/08 02/24/09 02/23/10 02/22/11 02/15/12 02/13/13 02/11/14 02/11/15 02/10/16 02/21/17 02/21/18 02/20/19 02/20/20 Filing Date
03/10/06 02/28/07 02/26/08 02/24/09 02/23/10 02/22/11 02/13/13 02/11/14 02/11/15 02/10/16 02/21/17 02/21/18 02/20/19 02/20/20 02/20/20 02/20/20 Restated Filing Date
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HSIC 6/7
About GuruFocus.com
GuruFocus.com is owned by GuruFocus.com LLC, a Texas Limited Liability Company located in Plano, Texas. GuruFocus.com is engaged in the business of financial news, commentaries, research and publishing. GuruFocus.com, LLC is proud to
be a Better Business Bureau (BBB) accredited company with an A+ rating.
GuruFocus.com was founded in 2004 by Charlie Tian, Ph. D. on the philosophy that investors would make a lot fewer mistakes investing if they were to select stocks from the ones that have been researched by the best investors in the world.
GuruFocus tracks the stock picks and portfolio changes of the best investors in the world.
GuruFocus.com is dedicated to value investing. As employed by Warren Buffett, the greatest investor of all time, value investing is the only winning strategy for the long term. GuruFocus hosts numerous value screeners and research tools, and
regularly publishes articles about value investing strategies and ideas.
Disclaimer
GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site,
and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with
respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published
or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive
damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no
way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated
daily.
Copyright 2015 GuruFocus.com LLC www.gurufocus.com/stock/HSIC 7/7
Newell Brands Inc (NAS:NWL) 03/03/2020 2:30PM EST GuruFocus
Price: $ 15.47 -0.98(-5.96%) Market Cap: $ 6.55 B Enterprise Value: $12.5 B Stock PDF
Financial Strength : 4/10 Profitability & Growth : 7/10 Valuation Ratios Valuation Box
vs vs
vs vs vs vs industry history
industry history industry history
P/E(ttm) 64.50
Cash to Debt 0.06 Operating margin (%) 7.07
Forward P/E N/A
Equity to Asset 0.32 Net-margin (%) 1.20
PE(NRI) 19.59
Interest Coverage 2.07 ROE (%) 2.20
F-Score:
P/B 1.32
ROA (%) 0.63
6
You might also like
- Investment Banking: Valuation, Leveraged Buyouts, and Mergers & AcquisitionsNo ratings yetInvestment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions8 pages
- The KPIs Cheat Sheet - Oana Labes, MBA, CPANo ratings yetThe KPIs Cheat Sheet - Oana Labes, MBA, CPA1 page
- 5 - Shariah Analysis of Bitcoin - SFF 2017 - Marjan Muhammad - 8 Nov 2017 (FINAL)100% (1)5 - Shariah Analysis of Bitcoin - SFF 2017 - Marjan Muhammad - 8 Nov 2017 (FINAL)37 pages
- Narration Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18No ratings yetNarration Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-1838 pages
- Niña Joy L. Arevalo BSMA II-B 3-1. Days Sales OutstandingNo ratings yetNiña Joy L. Arevalo BSMA II-B 3-1. Days Sales Outstanding5 pages
- Accelya Solutions: Revenue Trajectory Continues To ImproveNo ratings yetAccelya Solutions: Revenue Trajectory Continues To Improve4 pages
- TCS Share Price, Financials and Stock AnalysisNo ratings yetTCS Share Price, Financials and Stock Analysis1 page
- Thermo Fisher Acquires Life Technologies Finance Model0% (2)Thermo Fisher Acquires Life Technologies Finance Model19 pages
- Comprehensive IT Industry Analysis - ProjectNo ratings yetComprehensive IT Industry Analysis - Project52 pages
- Amgen Inc NasdaqGS AMGN Financials RatiosNo ratings yetAmgen Inc NasdaqGS AMGN Financials Ratios17 pages
- IDirect AstraMicrowave ShubhNivesh Dec24No ratings yetIDirect AstraMicrowave ShubhNivesh Dec244 pages
- Ratio Analysis Summary Particulars Mar '17 Mar '18 Mar '19 Revenue Growth Profitability RatiosNo ratings yetRatio Analysis Summary Particulars Mar '17 Mar '18 Mar '19 Revenue Growth Profitability Ratios10 pages
- Is Excel Participant Samarth - Simplified v2No ratings yetIs Excel Participant Samarth - Simplified v29 pages
- Hermès International Société en Commandite Par Actions ENXTPA RMS Financials RatiosNo ratings yetHermès International Société en Commandite Par Actions ENXTPA RMS Financials Ratios5 pages
- Kanpur Plastipack (KANPLA: Stable, Sound Business Model..No ratings yetKanpur Plastipack (KANPLA: Stable, Sound Business Model..5 pages
- Comparative Analysis With Key Retail Sector OrganizationsNo ratings yetComparative Analysis With Key Retail Sector Organizations3 pages
- Tugas 2 - Financial Ratio Analysis MYORNo ratings yetTugas 2 - Financial Ratio Analysis MYOR11 pages
- UPL Limited BSE 512070 Financials RatiosNo ratings yetUPL Limited BSE 512070 Financials Ratios5 pages
- Mastek - ICICI Securities - 29 Apr 21 - BUYNo ratings yetMastek - ICICI Securities - 29 Apr 21 - BUY4 pages
- KKCL - Investor Presentation Q2 & H1FY24No ratings yetKKCL - Investor Presentation Q2 & H1FY2445 pages
- 2024-04-30-MAST - Ns-Anand Rathi Securiti-Mastek Q4 Was A Blip, FY25 Appears Strong Retaining A Buy-107909123No ratings yet2024-04-30-MAST - Ns-Anand Rathi Securiti-Mastek Q4 Was A Blip, FY25 Appears Strong Retaining A Buy-10790912319 pages
- Accelya Solutions: Improving Travel Demand To Drive GrowthNo ratings yetAccelya Solutions: Improving Travel Demand To Drive Growth5 pages
- Portfolio Grader 500: 100 Aggressive High Growth StocksNo ratings yetPortfolio Grader 500: 100 Aggressive High Growth Stocks2 pages
- Qingdao Hanhe Cable Co LTD SZSE 002498 Financials RatiosNo ratings yetQingdao Hanhe Cable Co LTD SZSE 002498 Financials Ratios13 pages
- Particulars Mar 2013 Mar 2012 Mar 2011 Mar 2010 Mar 2009: Operational & Financial RatiosNo ratings yetParticulars Mar 2013 Mar 2012 Mar 2011 Mar 2010 Mar 2009: Operational & Financial Ratios2 pages
- Case Analysis. There's More To Us Than Meets The EyeNo ratings yetCase Analysis. There's More To Us Than Meets The Eye5 pages
- Financial Analysis of Apollo Hospitals: Presented By: Imran Mohammad Rather 2010MBE09No ratings yetFinancial Analysis of Apollo Hospitals: Presented By: Imran Mohammad Rather 2010MBE0919 pages
- Private Debt: Yield, Safety and the Emergence of Alternative LendingFrom EverandPrivate Debt: Yield, Safety and the Emergence of Alternative LendingNo ratings yet
- Economic and Business Forecasting: Analyzing and Interpreting Econometric ResultsFrom EverandEconomic and Business Forecasting: Analyzing and Interpreting Econometric ResultsNo ratings yet
- The Importance of Financial Literacy in A Global Economic EraNo ratings yetThe Importance of Financial Literacy in A Global Economic Era7 pages
- Creating A Tax-Deductible Canadian MortgageNo ratings yetCreating A Tax-Deductible Canadian Mortgage4 pages
- Relevant Costing P1 (Non-Current Assets)No ratings yetRelevant Costing P1 (Non-Current Assets)2 pages
- Underpricing Ketika Initial Public Offering (Ipo)No ratings yetUnderpricing Ketika Initial Public Offering (Ipo)15 pages
- Reading 21 Portfolio Risk and Return Part IINo ratings yetReading 21 Portfolio Risk and Return Part II30 pages
- General Services Marketing Plan: Investor OpportunityNo ratings yetGeneral Services Marketing Plan: Investor Opportunity15 pages
- FSC Standard No. 9: Valuation of Scheme Assets and LiabilitiesNo ratings yetFSC Standard No. 9: Valuation of Scheme Assets and Liabilities15 pages
- BSF 1102 - Principles of Finance - December 2022No ratings yetBSF 1102 - Principles of Finance - December 20224 pages
