Income Statement Evolution | |
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Annual Income Statement Data |
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Actuals in M $ |
Estimates in M $ |
Fiscal Period December |
2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
Sales | 23 002 | 22 465 | 22 090 | 23 428 | 25 793 | 28 262 | EBITDA | 9 078 | 9 891 | 9 425 | 8 021 | 9 418 | 10 411 | Operating profit (EBIT) | 6 721 | 6 855 | 5 672 | 6 122 | 7 541 | 8 614 | Pre-Tax Profit (EBT) | 3 406 | 2 227 | - | 3 467 | 4 884 | 6 447 | Net income | 3 499 | 3 001 | 2 155 | 2 806 | 4 147 | 5 576 | P/E ratio | 19,8 | 29,2 | 44,0 | 36,4 | 25,5 | 20,5 | EPS ( $ ) | 2,77 | 2,37 | 1,70 | 2,21 | 3,15 | 3,92 | Dividend per Share ( $ ) | 2,80 | 2,80 | 2,80 | 2,74 | 2,81 | 3,07 | Yield | 5,11% | 4,05% | 3,74% | 3,40% | 3,50% | 3,82% | Reference price ( $ ) | 54.8 | 69.1 | 74.9 | 80.4398 | 80.4398 | 80.4398 | Announcement Date | 02/02/2017 08:11am | 02/02/2018 07:00am | 02/14/2019 07:00am | - | - | - |
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Actuals in M $ |
Estimates in M $ |
Fiscal Period December |
2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
Debt | 11 790 | 14 483 | - | 14 781 | 14 892 | 13 794 | Finance | - | - | - | - | - | - | Operating income (EBITDA) | 9 078 | 9 891 | 9 425 | 8 021 | 9 418 | 10 411 | Leverage (Debt/EBITDA) | 1,30x | 1,46x | - | 1,84x | 1,58x | 1,32x | Capital Expenditure | 1 446 | 1 326 | - | 1 257 | 1 378 | 1 392 | Book Value Per Share (BVPS) | 11,7 $ | - | - | 10,7 $ | 9,87 $ | 10,3 $ | Cash Flow per Share | 3,27 $ | 2,82 $ | 2,07 $ | 3,77 $ | 4,98 $ | 5,53 $ | Announcement Date | 02/02/2017 08:11am | 02/02/2018 07:00am | 02/14/2019 07:00am | - | - | - |
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Assessed data source : © 2019 Thomson Reuters |
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Valuation |
2019e |
2020e |
P/E ratio (Price / EPS)
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36,4x |
25,5x |
Capitalization / Revenue |
4,32x |
3,93x |
EV / Revenue |
4,96x |
4,51x |
EV / EBITDA |
14,5x |
12,3x |
Yield (DPS / Price)
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3,40% |
3,50% |
Price to book
(Price / BVPS)
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7,55x |
8,15x |
Profitability |
2019e |
2020e |
Operating Margin (EBIT / Sales)
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26,1% |
29,2% |
operating Leverage (Delta EBIT / Delta Sales)
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1,31x |
2,30x |
Net Margin (Net Profit / Revenue)
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12,0% |
16,1% |
ROA (Net Profit / Asset)
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5,70% |
8,34% |
ROE (Net Profit / Equities)
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30,5% |
46,1% |
Rate of Dividend |
124% |
89,3% |
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