| 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 |
19 941 |
21 240 |
22 832 |
21 929 |
22 551 |
23 295 |
| EBITDA |
9 310 |
9 954 |
10 708 |
10 897 |
11 732 |
12 433 |
| Operating profit (EBIT) |
7 272 |
7 849 |
8 517 |
8 626 |
9 356 |
9 981 |
| Pre-Tax Profit (EBT) |
6 766 |
7 632 |
7 741 |
7 832 |
8 452 |
9 112 |
| Net income |
4 233 |
10 712 |
5 966 |
6 014 |
6 449 |
6 942 |
| P/E ratio |
20,4x |
10,0x |
17,5x |
20,1x |
17,8x |
15,9x |
| EPS ( $ ) |
5,07 |
13,4 |
7,91 |
8,55 |
9,65 |
10,8 |
| Dividend per Share ( $ ) |
2,26 |
2,48 |
3,06 |
3,69 |
4,01 |
4,32 |
| Yield |
2,17% |
1,85% |
2,21% |
2,14% |
2,33% |
2,51% |
| Reference price ( $ ) |
103,680 |
134,100 |
138,230 |
172,000 |
172,000 |
172,000 |
| Announcement Date |
01/19/2017
01:00pm |
01/25/2018
01:00pm |
01/24/2019
01:00pm |
- |
- |
- |
|
|
|
|
Actuals in M $ |
Estimates in M $ |
|
Fiscal Period December
|
2016 |
2017 |
2018 |
2019 (e) |
2020 (e) |
2021 (e) |
| Debt |
13 670 |
15 579 |
21 118 |
24 059 |
26 971 |
28 551 |
| Finance |
- |
- |
- |
- |
- |
- |
| Operating income (EBITDA) |
9 310 |
9 954 |
10 708 |
10 897 |
11 732 |
12 433 |
Leverage
(Debt/EBITDA) |
1,47x |
1,57x |
1,97x |
2,21x |
2,30x |
2,30x |
| Capital Expenditure |
3 505 |
3 257 |
3 437 |
3 118 |
3 220 |
3 222 |
| Free Cash Flow (FCF) |
4 020 |
3 973 |
5 249 |
5 618 |
6 036 |
6 523 |
| Book Value Per Share (BVPS) ( $ ) |
23,9 |
31,0 |
28,0 |
24,7 |
23,3 |
22,1 |
| Cash Flow per Share ( $ ) |
9,01 |
9,02 |
11,5 |
12,2 |
13,8 |
15,8 |
| Announcement Date |
01/19/2017
01:00pm |
01/25/2018
01:00pm |
01/24/2019
01:00pm |
- |
- |
- |
|
|
|
|
|
Assessed data source
© 2019 S&P Global Market Intelligence
|
|
| Valuation |
2019e |
2020e |
| P/E ratio (Price / EPS) |
20,1x |
17,8x |
| Capitalization / Revenue |
5,40x |
5,25x |
| EV / Revenue |
6,49x |
6,32x |
| EV / EBITDA |
13,1x |
12,1x |
| Yield (DPS / Price) |
2,14% |
2,33% |
| Price to book (Price / BVPS) |
6,96x |
7,37x |
| Profitability |
2019e |
2020e |
| Operating Margin (EBIT / Sales) |
39,3% |
41,5% |
| Operating Leverage (Delta EBIT / Delta Sales) |
- |
2,98x |
| Net Margin (Net Profit / Revenue) |
27,4% |
28,6% |
| ROA (Net Profit / Asset) |
9,99% |
10,5% |
| ROE (Net Profit / Equities) |
31,7% |
38,7% |
| Rate of Dividend |
43,1% |
41,6% |
|
Year-on-year evolution of the PER
|
United Kingdom
Canada
France
Deutschland
Schweiz (DE)
Report 
