Profit & Loss 2003 2004 2005 2006 2007 2008

PL Net Sales 2,447 3,256 4,595 6,530 8,902 9,972

Gross Profit 1,703 2,299 3,138 4,467 5,866 6,442
Sellin/Admin 78 85 163 238 435 554
Dep & Amortz 435 806 958 1,332 1,807 2,310
Interest 115 218 392 588 886 985
Impairment 100 300
Restructuring 24 152 423 345 420
Operating profit 1,075 1,166 1,373 1,886 2,393 1,873
Tax 355 396 440 603 766 637
Net Income 720 770 933 1,283 1,627 1,236
EBIT 1,190 1,384 1,765 2,474 3,279 2,858

Balance Sheet 2003 2004 2005 2006 2007 2008

BS Cash 1,250 827 2,127 2,503 1,550 1,667

Inventory - 145 140
CA 1,770 1,600 3,173 4,295 3,380 4,274
ST Debt 320 595 733 168
CL 318 381 994 1,380 1,672 1,432
Long term debt 1,520 2,636 5,366 10,070 13,100 13,840
SH equity 4,314 5,163 6,755 8,555 11,009 13,215
Total debt 1,520 2,636 5,686 10,665 13,833 14,008
Avg equity 4,739 5,959 7,655 9,782 12,112
Other Data

Data Market Price 20.45 24.54 28.98 40.24 68.12 48.21

# of Shares 324 328 329 330 331 338
Cash dividend 1.5 1.5 1.5 1.5 2.5 2.5

From the above information work out the following;

Market Cap Debt to Equity

Workings EBIDTA Debt to captz
EBIT Interest coverage
Enterprise Value
Book Value / Share Current Ratio
Quick Ratio
EPS
Payout ratio PE Ratio
Div yield PB Ratio
EV/EBIDTA

Profitabilt Gross Margin

Net margin
 ROE
Revenue Growth
EBIDTA Growth

Leverage

Liquidity

Valuation
2009 2010 2011 2012 2003
Market cap 6,626
7,468 7,728 8,234 8,611 Curr. Ratio 5.57
4,697 5,039 5,336 5,606 Debt/equity 35.2%
469 409 439 528 Interest cov 10.35
2,043 1,675 1,846 1,920 Quick ratio 5.6
965 956 930 929 EPS 2.22
1,200 110 650 850 PE ratio 9.20
350 463 684 985 BV / share 13.31
(330) 1,426 787 394 PB ratio 1.5
(119) 499 252 130 Enterprise value 6,896
(211) 927 535 264 Payout ratio 67.5%
635 2,382 1,717 1,323 Divident yield 7.3%
Gross margin 69.6%
2009 2010 2011 2012 Net margin 29.4%
ROE
1,787 671 825 701 Revnue growth
190 102 101 144 EBIDTA 1,625
4,092 2,999 3,220 3,271 EBIDTA growth
122 448 158 102 EV/Ebidta 4.2
1,194 1,802 1,222 920 Debt/capital
13,840 13,040 13,040 12,980
12,643 13,310 14,639 14,545
13,962 13,488 13,198 13,082
12,929 12,977 13,975 14,592

52.71 50.22 39.27 41.24 44.25

349 342 374 382 382
2.5 2 2 2
2004 2005 2006 2007 2008 2009 2010
8,049 9,534 13,279 22,548 16,295 18,396 17,175
4.20 3.19 3.11 2.02 2.98 3.43 1.66
51.1% 84.2% 124.7% 125.7% 106.0% 110.4% 101.3%
6.35 4.50 4.21 3.70 2.90 0.66 2.49
4.20 3.19 3.11 1.93 2.89 3.27 1.61
2.35 2.84 3.89 4.92 3.66 (0.60) 2.71
10.45 10.22 10.35 13.86 13.18 (87.18) 18.53
15.74 20.53 25.92 33.26 39.10 36.23 38.92
1.56 1.41 1.55 2.05 1.23 1.46 1.29
9,858 13,093 21,441 34,831 28,636 30,571 29,992
63.9% 52.9% 38.6% 50.9% 68.4% -413.5% 73.8%
6.1% 5.2% 3.7% 3.7% 5.2% 4.7% 4.0%
71% 68% 68% 66% 65% 63% 65%
24% 20% 20% 18% 12% -3% 12%
16.2% 15.7% 16.8% 16.6% 10.2% -1.6% 7.1%
33% 41% 42% 36% 12% -25% 3%
2,190 2,723 3,806 5,086 5,168 2,678 4,057
35% 24% 40% 34% 2% -48% 51%
4.5 4.8 5.6 6.8 5.5 11.4 7.4
2011 2012
14,687 15,754
2.64 3.56
90.2% 89.9%
1.85 1.42
2.55 3.40
1.43 0.69
27.45 59.67
39.14 38.08
1.00 1.08
27,060 28,135
139.8% 289.4%
5.1% 4.8%
65% 65%
6% 3%
3.8% 1.8%
7% 5%
3,563 3,243
-12% -9%
7.6 8.7