| Income Statement Evolution | |
|
|
|
| Annual Income Statement Data |
|
|
Actuals in M $ |
Estimates in M $ |
|
Fiscal Period December
|
2016 |
2017 |
2018 |
2019 (e) |
2020 (e) |
2021 (e) |
| Sales |
3 302 |
3 357 |
3 440 |
3 630 |
3 811 |
3 981 |
| EBITDA |
1 615 |
1 714 |
1 690 |
1 820 |
1 967 |
2 078 |
| Operating profit (EBIT) |
1 145 |
1 222 |
1 125 |
1 247 |
1 353 |
1 441 |
| Pre-Tax Profit (EBT) |
770 |
912 |
787 |
874 |
935 |
1 018 |
| Net income |
468 |
426 |
567 |
646 |
712 |
772 |
| P/E ratio |
27,6x |
38,4x |
28,8x |
34,4x |
31,3x |
29,4x |
| EPS ( $ ) |
2,62 |
2,38 |
3,15 |
3,57 |
3,92 |
4,17 |
| Dividend per Share ( $ ) |
1,47 |
1,66 |
1,82 |
1,98 |
2,16 |
2,36 |
| Yield |
2,02% |
1,81% |
2,01% |
1,61% |
1,76% |
1,92% |
| Reference price ( $ ) |
72,360 |
91,490 |
90,770 |
122,670 |
122,670 |
122,670 |
| Announcement Date |
02/21/2017
09:33pm |
02/20/2018
09:34pm |
02/19/2019
09:32pm |
- |
- |
- |
|
|
|
|
Actuals in M $ |
Estimates in M $ |
|
Fiscal Period December
|
2016 |
2017 |
2018 |
2019 (e) |
2020 (e) |
2021 (e) |
| Debt |
7 107 |
7 670 |
8 481 |
9 404 |
10 055 |
10 752 |
| Finance |
- |
- |
- |
- |
- |
- |
| Operating income (EBITDA) |
1 615 |
1 714 |
1 690 |
1 820 |
1 967 |
2 078 |
Leverage
(Debt/EBITDA) |
4,40x |
4,47x |
5,02x |
5,17x |
5,11x |
5,17x |
| Capital Expenditure |
1 311 |
1 434 |
1 586 |
1 804 |
1 678 |
1 674 |
| Free Cash Flow (FCF) |
-35,0 |
15,0 |
-200 |
-550 |
-51,5 |
-69,0 |
| Book Value Per Share (BVPS) ( $ ) |
29,3 |
30,2 |
32,5 |
34,2 |
35,9 |
37,7 |
| Cash Flow per Share ( $ ) |
7,13 |
8,10 |
7,70 |
7,72 |
8,17 |
7,99 |
| Announcement Date |
02/21/2017
09:33pm |
02/20/2018
09:34pm |
02/19/2019
09:32pm |
- |
- |
- |
|
|
|
|
|
Assessed data source
© 2019 S&P Global Market Intelligence
|
|
| Valuation |
2019e |
2020e |
| P/E ratio (Price / EPS) |
34,4x |
31,3x |
| Capitalization / Revenue |
6,11x |
5,82x |
| EV / Revenue |
8,70x |
8,29x |
| EV / EBITDA |
17,4x |
16,1x |
| Yield (DPS / Price) |
1,61% |
1,76% |
| Price to book (Price / BVPS) |
3,59x |
3,42x |
| Profitability |
2019e |
2020e |
| Operating Margin (EBIT / Sales) |
34,4% |
35,5% |
| Operating Leverage (Delta EBIT / Delta Sales) |
1,97x |
1,70x |
| Net Margin (Net Profit / Revenue) |
17,8% |
18,7% |
| ROA (Net Profit / Asset) |
2,99% |
3,07% |
| ROE (Net Profit / Equities) |
10,8% |
11,1% |
| Rate of Dividend |
55,4% |
55,1% |
|
Year-on-year evolution of the PER
|
United Kingdom
Canada
France
Deutschland
Schweiz (DE)
Report 
