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20.02.2013
Ticker: Cresud SACIF y A Benchmark:
Currency: NASDAQ GS: CRESY, Currency: USD S&P 500 INDEX (SPX)
Sector: Financials Industry: Real Estate Management & Devel Year:
Telephone 54-11-4323-7449 Revenue (M) Business Segments in USD Sales (M) Geographic Segments in USD Sales (M)
Website www.cresud.com.ar No of Employees Real Estate 348 Worlwide 57
Address Moreno, 877, 23 Floor Buenos Aires, C1091AAQ Argentina Farm 57
Share Price Performance in USD Dairy Farm
Price 8.68 1M Return -4.9% Cattle Ranching
52 Week High 12.78 6M Return 9.2% Grains
52 Week Low 6.30 52 Wk Return -31.0%
52 Wk Beta 1.11 YTD Return 4.3%
Credit Ratings
Bloomberg -
S&P - Date - Outlook -
Moody's - Date - Outlook -
Fitch - Date - Outlook NEG
Valuation Ratios
6/09 6/10 6/11 6/12 6/13E 6/14E 6/15E
P/E - - - - 20.6x 10.3x 8.0x
EV/EBIT 19.8x 9.6x 11.7x 11.8x - - -
EV/EBITDA 12.3x 7.3x 9.2x 8.6x - - -
P/S - - - - 0.8x 0.7x 0.7x
P/B - - - - 1.1x 1.0x 0.9x
Div Yield - - - - 1.3% 2.6% 3.5%
Profitability Ratios %
6/09 6/10 6/11 6/12 6/13E 6/14E 6/15E
Gross Margin 59.0 68.6 55.9 35.6 - - -
EBITDA Margin 24.2 40.9 36.3 25.8 43.9 42.5 45.0
Operating Margin 15.1 31.2 28.6 18.9 - - -
Profit Margin 8.7 9.8 8.4 2.3 5.7 8.7 12.8
Return on Assets 3.1 2.9 2.6 0.8 - - -
Return on Equity 7.0 9.8 10.2 3.7 7.6 13.7 16.7
Leverage and Coverage Ratios
6/09 6/10 6/11 6/12
Current Ratio 0.9 0.8 1.0 0.9 Current Capitalization in USD
Quick Ratio 0.6 0.4 0.5 0.5 Common Shares Outstanding (M) #N/A Field Not Applicable
EBIT/Interest 1.5 3.2 2.5 1.6 Market Capitalization (M) 435.4
Tot Debt/Capital 0.3 0.3 0.4 0.5 Cash and ST Investments (M) 129.7
Tot Debt/Equity 0.4 0.5 0.7 1.0 Total Debt (M) 858.4
Eff Tax Rate % 29.8 28.3 24.7 7.2 Preferred Equity (M) 0.0
LT Investments in Affiliate Companies (M) 0.0
Investments (M) 440.1
Enterprise Value (M) 1604.1
Cresud SACIF y A is an Argentine agricultural company, with a growing presence in
Latin American countries, engaged in a range of activities including crop production,
cattle raising and milk production. The Company's business model, rolled out in
Argentina, Brazil, Bolivia and Paraguay, focuses on the acquisition, development and
exploitation of agricultural properties.
CRESY US
804
#N/A N/A
Company Analysis - Overview
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Cresud SACIF y A
Target price in USD
Date Buy Hold Sell Date Price Target Price Broker Analyst Recommendation Target Date
0- GTi -0 34% %% 00% .% CbV -0 5!35 -0!12 NTuhlia GThbo MBANL G NF9E7NAO lrpmbnclnh -4!%% -6 CbV -00- AbW -. 2%% 2%% %% -6 CbV -0 5!5- -0!12 Dnrml OTipTiabn S7HPBN 9EF7NRBOFL riabnmbnclnh 6!6% 4 GTi -00% Jls -. 34% 00% %% -5 CbV -0 5!25 -0!12 EO89 MBANL EBNNBN7 lsbntbfdep -4!%% -4 Obm -.0- LWp -. 2%% 2%% %% -2 CbV -0 5!25 -0!12 BR7 Afhbioflio PB7I 9LRBN7DB elga -5 Jls --.5 Obm -. 2%% 2%% %% -1 CbV -0 5!4- -0!120- 7rd -. 2%% 2%% %% -0 CbV -0 5!32 -0!120- Grg -. 2%% 2%% %% -. CbV -0 5!54 -0!12.6 Gri -. 2%% 2%% %% -- CbV -0 6!%0 -0!120- ITu -. 2%% 2%% %% 5 CbV -0 6!-% -0!120% 7mn -. 2%% 2%% %% 4 CbV -0 6!0% -0!120% ITn -. 2%% 2%% %% 3 CbV -0 6!30 -0!12.6 CbV -. 2%% 2%% %% 2 CbV -0 6!44 -0!12
1 CbV -0 6!2% -0!12- CbV -0 6!30 -0!12
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Company Analysis - Analysts Ratings
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
20.02.2013
Cresud SACIF y A
Ownership Statistics Geographic Ownership Distribution
Shares Outstanding (M) #N/A Field Not Applicable Others 100.00%
Float 0.00%
Short Interest (M) 0.1 0.00%
Short Interest as % of Float 0.00%
Days to Cover Shorts 1.35 0.00%
Institutional Ownership 0.00%
Retail Ownership 0.00%
Insider Ownership Others 0.00%
Institutional Ownership Distribution
Others 100.00%
0.00%
0.00%
0.00%
Pricing data is in USD Others 0.00%
Top 20 Owners:
Holder Name Position Position Change Market Value % of Ownership Report Date Source Country
MACQUARIE GROUP LTD 1'879'565 0 16'314'624 3.75% 31.12.2012 ULT-AGG AUSTRALIA
GLOBAL THEMATIC PART 1'591'495 0 13'814'177 3.17% 31.12.2012 13F UNITED STATES
TRADEWINDS GLOBAL IN 1'572'588 -205'935 13'650'064 3.14% 31.12.2012 13F UNITED STATES
DWS INVESTMENT S A 1'371'605 0 11'905'531 2.73% 28.12.2012 MF-AGG LUXEMBOURG
D E SHAW & COMPANY I 1'363'313 -28'003 11'833'557 2.72% 31.12.2012 13F UNITED STATES
PARAMETRIC PORTFOLIO 1'040'365 -3'607 9'030'368 2.07% 31.12.2012 13F UNITED STATES
HORIZON KINETICS 1'025'579 -19'822 8'902'026 2.04% 31.12.2012 ULT-AGG UNITED STATES
DEUTSCHE BANK AG 983'241 11'664 8'534'532 1.96% 31.12.2012 13F GERMANY
VINIK ASSET MANAGEME 779'600 376'200 6'766'928 1.55% 31.12.2012 13F UNITED STATES
VAN ECK ASSOCIATES C 743'734 -20'700 6'455'611 1.48% 31.12.2012 13F UNITED STATES
VAN ECK ASSOCIATES C 740'968 -353 6'431'602 1.48% 15.02.2013 MF-AGG UNITED STATES
ODYSSEY REINS CO 723'012 -112'996 6'275'744 1.44% 30.09.2012 Sch-D UNITED STATES
FAIRFAX FINANCIAL HO 723'012 0 6'275'744 1.44% 31.12.2012 13F CANADA
CREDIT SUISSE AG 605'835 22'086 5'258'648 1.21% 31.12.2012 13F SWITZERLAND
RUANE CUNNIFF & GOLD 605'247 0 5'253'544 1.21% 31.12.2012 13F UNITED STATES
WARBURG INVEST LUXEM 577'000 0 5'008'360 1.15% 31.12.2012 MF-AGG LUXEMBOURG
EATON VANCE MANAGEME 423'761 0 3'678'245 0.84% 31.12.2012 MF-AGG UNITED STATES
NUVEEN ASSET MANAGEM 223'072 -10'491 1'936'265 0.44% 31.01.2013 MF-AGG UNITED STATES
RENAISSANCE TECHNOLO 204'568 -1'854 1'775'650 0.41% 31.12.2012 13F UNITED STATES
BANK OF NEW YORK MEL 195'617 11'630 1'697'956 0.39% 31.12.2012 13F UNITED STATES
Top 5 Insiders:
Holder Name Position Position Change Market Value % of Ownership Report Date Source
Company Analysis - Ownership
Ownership Type
1%1%1%
FkopfprpflkTi Htkanoefm JapTfi Htkanoefm FkofWan Htkanoefm
Geographic Ownership
100%
0%0% 0%0% 0%0%
0%
Hpeano Hpeano
Institutional Ownership
100%
0% 0%0%
0%
Hpeano Hpeano
TOP 20 ALL
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Cresud SACIF y A
Financial information is in USD (M)
Periodicity: 6/02 6/03 6/04 6/05 6/06 6/07 6/08 6/09 6/10 6/11 6/12 6/13E 6/14E 6/15E
Income Statement
Revenue 50 22 21 27 37 69 103 421 489 635 804 557 634 676
- Cost of Goods Sold 28 16 13 20 31 57 82 173 154 280 518
Gross Income 23 6 8 6 7 12 21 248 336 355 287
- Selling, General & Admin Expenses 12 3 5 5 7 9 16 187 224 200 144
(Research & Dev Costs)
Operating Income 11 8 3 12 4 12 14 64 153 182 152
- Interest Expense 0 2 4 3 3 4 8 41 47 73 94
- Foreign Exchange Losses (Gains) -1 13 -1 1 -1 0 10 26 12 17 52
- Net Non-Operating Losses (Gains) 35 -30 -14 -31 -11 -11 -11 -96 -41 -34 -37
Pretax Income -23 23 14 39 13 19 7 92 134 127 43 59 135 194
- Income Tax Expense 5 3 3 13 2 3 0 27 38 31 3
Income Before XO Items -28 20 11 26 11 16 7 65 96 95 40
- Extraordinary Loss Net of Tax 0 0 0 0 0 0 0 0 0 0 0
- Minority Interests -0 -0 -0 -0 0 0 0 28 48 42 22
Diluted EPS Before XO Items
Net Income Adjusted* -28 20 11 26 11 16 7 37 48 53 18 32 55 87
EPS Adjusted 0.42 0.85 1.10
Dividends Per Share 0.12 0.23 0.31
Payout Ratio % 0.0 0.0 16.0 37.2 32.8 82.3 0.28 0.27 0.28
Total Shares Outstanding
Diluted Shares Outstanding
EBITDA 14 10 5 14 5 14 16 102 200 230 208 240 264 304
*Net income excludes extraordinary gains and losses and one-time charges.
Equivalent Estimates
Company Analysis - Financials I/IV
Fiscal Year
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Periodicity: 6/02 6/03 6/04 6/05 6/06 6/07 6/08 6/09 6/10 6/11 6/12 6/13E 6/14E 6/15E
Balance Sheet
Total Current Assets 25.8227409 20.8865059 24.7081288 52.8793929 30.8005916 70.1536703 243.640724 304.934938 369.647744 551.237956 424.914674
+ Cash & Near Cash Items 10 6 4 5 8 15 16 22 21 47 75
+ Short Term Investments 0 2 1 21 2 13 160 91 71 140 55
+ Accounts & Notes Receivable 4 2 2 3 4 12 12 80 112 110 123
+ Inventories 9 8 12 16 9 17 37 37 102 183 120
+ Other Current Assets 2 2 7 8 7 13 19 76 64 71 52
Total Long-Term Assets 66 182 194 204 252 277 441 1'269 1'369 1'817 1'732
+ Long Term Investments 0 0 0 37 12 12 0 8 16 8 550
Gross Fixed Assets 34 60 60 65 81 88 99 1'532
Accumulated Depreciation 4 7 6 8 8 9 11 394
+ Net Fixed Assets 30 53 53 58 73 80 88 872 837 1'298 1'138
+ Other Long Term Assets 36 129 140 110 167 185 352 389 517 511 44
Total Current Liabilities 9 5 10 23 33 54 87 346 491 575 464
+ Accounts Payable 3 2 4 6 9 10 16 90 103 115 82
+ Short Term Borrowings 2 1 3 4 22 40 65 141 270 320 242
+ Other Short Term Liabilities 4 3 3 13 3 5 6 115 118 140 140
Total Long Term Liabilities 3 57 51 53 46 25 15 372 335 684 796
+ Long Term Borrowings 0 0 43 40 32 8 0 228 217 508 616
+ Other Long Term Borrowings 3 57 9 14 14 17 15 144 118 176 180
Total Liabilities 12 63 61 76 79 80 101 718 825 1'259 1'260
+ Long Preferred Equity 0 0 0 0 0 0 0 0 0 0 0
+ Minority Interest 0 0 0 0 0 0 0 378 413 571 440
+ Share Capital & APIC 89 136 143 141 160 207 511 366 352 336 305
+ Retained Earnings & Other Equity -9 4 14 40 43 60 71 111 149 203 151
Total Shareholders Equity 80 140 157 181 203 267 583 856 914 1'109 896
Total Liabilities & Equity 92 203 218 257 282 347 684 1'574 1'739 2'368 2'156
Book Value Per Share 7.83 8.74 9.83
Tangible Book Value Per Share
Company Analysis - Financials II/IV
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Periodicity: 6/02 6/03 6/04 6/05 6/06 6/07 6/08 6/09 6/10 6/11 6/12 6/13E 6/14E 6/15E
Cash Flows
Net Income -28 20 11 26 11 16 7 37 48 53 18 34 67 91
+ Depreciation & Amortization 3 1 1 1 2 1 2 38 47 49 56
+ Other Non-Cash Adjustments 75 -26 -6 -25 -10 -15 -7 50 26 123 150
+ Changes in Non-Cash Capital 1 8 -7 -6 -10 -21 -31 -40 -92 -86 -25
Cash From Operating Activities 50 3 -0 -3 -7 -18 -29 85 30 138 199
+ Disposal of Fixed Assets 4 2 10 4 9 14 2 4 0
+ Capital Expenditures -9 -5 -9 -19 -10 -9 -91 -52 -42 -56 -65 -62 -57
+ Increase in Investments -54 -0 -12 -22 -0 -130 -44 -48 -19
+ Decrease in Investments 0 0 32 0 0 0 0 0 19
+ Other Investing Activities -2 -5 0 -1 0 0 1 -43 -175 -95
Cash From Investing Activities -61 -8 21 -37 -0 -125 -132 -138 -198 -170
+ Dividends Paid 0 -1 -1 -3 -2 -3 -13 -25 -48 -33
+ Change in Short Term Borrowings 0 0 0 0 0 0 0 0 0
+ Increase in Long Term Borrowings 54 2 15 28 27 25 66 175 89 66
+ Decrease in Long Term Borrowings -4 -4 -18 -6 -15 -15 -69 -27 -63 -180
+ Increase in Capital Stocks 0 8 0 0 0 281 0
+ Decrease in Capital Stocks 0 0 0 0 0 0 -22 0 0
+ Other Financing Activities 1 -0 4 12 27 4 -35 -24 213 81
Cash From Financing Activities 51 6 1 31 38 292 -71 99 192 -66
Net Changes in Cash -7 -3 18 -13 19 139 -118 -9 132 -36
Free Cash Flow (CFO-CAPEX) -6 -5 -12 -26 -28 -38 -5 -22 96 143
Free Cash Flow To Firm -4 -2 -10 -23 -24 -31 24 12 151 230
Free Cash Flow To Equity 48 -5 -5 -0 -5 -13 -6 131 123 29
Free Cash Flow per Share
Company Analysis - Financials III/IV
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Periodicity: 6/02 6/03 6/04 6/05 6/06 6/07 6/08 6/09 6/10 6/11 6/12 6/13E 6/14E 6/15E
Ratio Analysis
Valuation Ratios
Price Earnings 20.6x 10.3x 8.0x
EV to EBIT 15.4x 11.1x 66.8x 16.7x 94.4x 55.8x 48.6x 19.8x 9.6x 11.7x 11.8x
EV to EBITDA 12.5x 9.8x 48.5x 15.0x 64.6x 49.9x 42.4x 12.3x 7.3x 9.2x 8.6x
Price to Sales 0.8x 0.7x 0.7x
Price to Book 1.1x 1.0x 0.9x
Dividend Yield 1.3% 2.6% 3.5%
Profitability Ratios
Gross Margin 44.6% 29.1% 37.4% 23.7% 17.8% 17.9% 20.4% 59.0% 68.6% 55.9% 35.6%
EBITDA Margin 26.8% 43.4% 21.1% 51.7% 14.4% 19.9% 15.5% 24.2% 40.9% 36.3% 25.8% 43.9% 42.5% 45.0%
Operating Margin 21.8% 38.5% 15.3% 46.4% 9.9% 17.8% 13.5% 15.1% 31.2% 28.6% 18.9%
Profit Margin -55.9% 90.4% 51.6% 98.2% 29.3% 23.2% 7.1% 8.7% 9.8% 8.4% 2.3% 5.7% 8.7% 12.8%
Return on Assets -14.4% 14.2% 5.3% 11.1% 4.1% 5.1% 1.5% 3.1% 2.9% 2.6% 0.8%
Return on Equity -16.5% 18.7% 7.5% 15.5% 5.7% 6.8% 1.8% 7.0% 9.8% 10.2% 3.7% 7.6% 13.7% 16.7%
Leverage & Coverage Ratios
Current Ratio 3.01 3.88 2.54 2.31 0.93 1.29 2.81 0.88 0.75 0.96 0.92
Quick Ratio 1.74 1.95 0.66 1.28 0.42 0.74 2.17 0.56 0.42 0.52 0.55
Interest Coverage Ratio (EBIT/I) 3.97 0.81 3.77 1.33 2.99 1.83 1.54 3.23 2.50 1.62
Tot Debt/Capital 0.02 0.00 0.22 0.19 0.21 0.15 0.10 0.30 0.35 0.43 0.49
Tot Debt/Equity 0.02 0.00 0.29 0.24 0.26 0.18 0.11 0.43 0.53 0.75 0.96
Others
Asset Turnover 0.26 0.16 0.10 0.11 0.14 0.22 0.21 0.35 0.29 0.31 0.35
Accounts Receivable Turnover 6.33 6.01 10.80 10.84 10.76 8.70 8.75 8.42 5.06 5.68 6.84
Accounts Payable Turnover 6.04 4.76 6.54 4.89 3.38 6.92 7.85 3.15 2.29 3.35 4.79
Inventory Turnover 1.66 1.80 1.35 1.47 2.45 4.30 3.13 4.67 2.19 1.94 3.44
Effective Tax Rate 14.1% 20.5% 33.0% 14.1% 14.4% 1.2% 29.8% 28.3% 24.7% 7.2%
Company Analysis - Financials IV/IV
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
CRESUD SA-ADR BRF - BRASIL FOO ARCHER-DANIELS BUNGE LTD BRASILAGRO TYSON FOODS-A ALICO INC IRSA SA COSANINVERSORA JURA-
BGRUPO BIMBO-A
06/2012 12/2011 06/2012 12/2012 06/2012 09/2012 09/2012 06/2012 03/2012 09/2012 12/2011
13.65 46.75 33.98 80.99 10.30 24.31 45.16 7.05 48.44 1.96 34.22
21.02.2012 18.01.2013 10.05.2012 05.02.2013 24.01.2013 19.02.2013 30.01.2013 01.02.2013 08.02.2013 23.01.2013 04.01.2013
6.69 27.53 24.38 57.10 6.66 13.99 21.06 3.87 28.43 1.42 28.00
01.06.2012 26.07.2012 15.11.2012 04.06.2012 23.05.2012 06.08.2012 12.04.2012 07.05.2012 24.05.2012 16.05.2012 31.08.2012
28'951 714'800 2'982'517 431'721 6'200 1'668'672 5'117 4'593 407'500 30'000 375'616
8.68 42.23 32.68 74.20 9.94 23.93 43.62 6.35 46.56 1.75 33.21
-36.4% -9.7% -3.8% -8.4% -3.5% -1.6% -3.4% -9.9% -3.9% -10.7% -3.0%
29.7% 53.4% 34.0% 29.9% 49.2% 71.0% 107.1% 64.1% 63.8% 23.2% 18.6%
- 869.5 659.0 146.2 58.4 359.0 7.3 578.7 404.3 368.0 4'703.2
435.4 36'844.5 21'521.9 10'845.9 580.7 8'484.0 318.2 3'674.6 18'959.9 644.0 156'193.3
3'883.2 8'053.5 10'320.0 5'849.0 94.4 2'432.0 57.2 2'641.5 5'014.1 123.2 46'203.0
- - - 690.0 - - - - - - -
1'990.8 39.6 200.0 38.0 - 30.0 - 362.9 464.6 3.6 -
586.6 2'892.9 1'729.0 571.0 67.5 1'071.0 2.3 257.5 1'616.2 4.9 3'966.0
- 43'798.7 28'054.9 16'161.9 579.7 9'983.0 354.5 6'440.1 32'028.1 817.2 196'774.1
LFY 3'457.8 25'706.2 89'038.0 60'991.0 146.2 33'278.0 127.2 1'702.1 24'096.9 404.5 133'712.0
LTM 3'457.8 27'470.8 90'559.0 62'869.0 175.0 33'351.0 122.5 1'918.8 27'348.9 501.5 169'472.6
CY+1 2'729.0 28'269.1 89'986.3 66'618.4 182.5 34'468.1 124.5 1'619.3 30'880.2 - 173'264.1
CY+2 3'109.0 31'276.3 89'123.8 68'069.3 193.0 35'269.4 134.5 1'847.0 35'485.1 - 182'412.0
LFY 2.2x 1.5x 0.3x 0.3x 4.0x 0.2x 2.1x 3.1x 1.2x 1.9x 1.4x
LTM 2.2x 1.4x 0.3x 0.3x 3.3x 0.2x 2.1x 2.8x 1.1x 1.5x 1.1x
CY+1 2.8x 1.6x - 0.2x 3.9x 0.3x - - 0.9x - 1.1x
CY+2 2.3x 1.4x - 0.2x 3.9x 0.3x - - 0.8x - 1.1x
LFY 893.3 2'878.5 2'890.0 1'580.0 4.3 1'747.0 22.6 1'003.3 5'338.7 20.3 15'376.0
LTM 981.7 2'213.3 2'827.0 1'530.0 22.3 1'899.0 - 1'057.3 2'707.3 25.5 14'572.9
CY+1 1'198.3 2'539.8 3'339.0 2'264.6 40.7 1'828.8 - 1'033.0 2'892.8 129.0 14'442.0
CY+2 1'320.9 3'839.5 3'911.8 2'355.7 48.6 1'961.9 - 1'067.0 3'740.1 - 17'413.4
LFY 8.6x 13.0x 8.5x 10.1x 136.5x 4.8x 11.6x 5.3x 5.6x 37.9x 12.4x
LTM 7.8x 16.9x 8.7x 10.4x 26.1x 4.4x - 5.0x 11.1x 30.1x 13.1x
CY+1 6.3x 17.3x - 7.2x 17.3x 5.2x - - 9.3x - 13.5x
CY+2 5.5x 11.4x - 6.9x 15.4x 4.5x - - 7.3x - 11.0x
LFY - 1.57 2.29 4.54 -0.32 1.90 1.87 0.48 6.34 0.08 -
LTM - 0.43 2.38 4.27 -0.15 1.94 1.79 0.64 1.86 -0.03 0.61
CY+1 2.12 0.78 2.53 7.39 0.25 2.10 2.23 0.32 1.76 - 0.86
CY+2 4.23 1.99 3.02 8.09 0.08 2.38 1.72 - 2.46 - 1.31
LFY - 98.7x 13.7x 17.4x - 12.3x 24.4x 9.9x 25.0x - 54.6x
LTM - 98.8x 13.7x 17.4x - 12.3x 24.4x 13.4x 25.3x - -
CY+1 20.6x 54.3x 12.9x 10.0x 40.6x 11.4x 19.6x 19.8x 26.4x - 38.6x
CY+2 10.3x 21.2x 10.8x 9.2x 132.5x 10.0x 25.4x - 18.9x - 25.4x
1 Year 36.1% 13.3% 10.4% 3.8% 83.8% 3.1% 29.0% 11.2% 33.4% - 14.1%
5 Year - 38.0% 9.3% 5.6% 595.7% 5.5% 3.2% 23.1% 83.9% - 19.9%
1 Year (3.1%) 24.0% (19.0%) (7.1%) 46.2% (2.5%) - 25.8% 159.8% - 1.7%
5 Year 83.9% 52.9% 1.0% 0.5% - 9.1% 14.3% 29.7% 41.9% - 14.6%
LTM 28.4% 8.1% 3.1% 2.4% 12.8% 5.7% - 55.1% 9.9% 5.1% 8.6%
CY+1 43.9% 9.0% 3.7% 3.4% 22.3% 5.3% - 63.8% 9.4% - 8.3%
CY+2 42.5% 12.3% 4.4% 3.5% 25.2% 5.6% - 57.8% 10.5% - 9.5%
Total Debt / Equity % 188.2% 57.2% 57.4% 52.0% 16.9% 40.5% 51.7% 113.1% 54.8% 24.3% 91.6% FALSE FALSE FALSE
Total Debt / Capital % 48.9% 36.3% 36.2% 34.1% 14.4% 28.7% 34.1% 49.5% 34.3% 19.4% 47.8% FALSE FALSE FALSE
Total Debt / EBITDA 3.956x 4.121x 3.375x 3.823x 3.555x 1.278x - 2.511x 4.307x 6.872x 2.873x FALSE FALSE FALSE
Net Debt / EBITDA 3.358x 3.122x 2.311x 3.450x -0.045x 0.777x - 2.245x 3.449x 6.659x 2.579x FALSE FALSE FALSE
EBITDA / Int. Expense 2.210x 6.056x 6.451x 4.984x 0.573x 4.907x 10.510x 3.315x 9.844x - 7.446x FALSE FALSE FALSE
S&P LT Credit Rating - BBB- A *- BBB- - BBB - B- BB - BBB FALSE FALSE FALSE
S&P LT Credit Rating Date - 04.04.2012 19.10.2012 10.06.2010 - 11.02.2013 - 01.11.2012 21.10.2010 - 12.07.2011 FALSE FALSE FALSE
Moody's LT Credit Rating - Baa3 A2 - - Baa3 - - WR - Baa2 FALSE FALSE FALSE
Moody's LT Credit Rating Date - 31.05.2012 12.11.2004 - - 07.06.2012 - - 15.05.2011 - 09.09.2011 FALSE FALSE FALSE
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Total Debt
Market Capitalization
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EBITDA
EV/EBITDA
Enterprise Value
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Preferred Stock
52-Week Low Date
Minority Interest
Total Common Shares (M)
P/E
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EV/Total Revenue
EPS
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EBITDA Margin
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Company Analysis - Peers Comparision
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