Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Germany
  4. Deutsche Boerse AG
  5. Bike24 Holding AG
  6. News
  7. Summary
    BIKE   DE000A3CQ7F4


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

How Reuters compared U.S. corporations' taxes with their foreign rivals

06/22/2021 | 12:56pm EDT
FILE PHOTO: Illustration photo of a U.S. five dollar note

(Reuters) - Reuters analyzed the filings of hundreds of U.S. and foreign companies to compare their tax bills, finding that the U.S. firms currently pay far lower taxes - and would likely continue to pay lower taxes under a tax hike proposed by U.S. President Joe Biden.

To identify comparable competitors among large firms, Reuters relied on the U.S. firms own assessments of their main rivals. About half of the 200 biggest firms by market capitalization in the S&P 500 published the names of their chief competitors, both domestic and foreign. Reuters then excluded all the firms that listed only domestic competitors rather than international rivals.

The news organization also excluded seven firms that posted a loss in 2020, and another three firms with tax bills far lower than was typical for the group, to prevent unrepresentative outliers from skewing the overall analysis.

That left 52 U.S. firms to analyze, who named a total of 200 foreign competitors that Reuters used for comparison. Those U.S.-based companies were all multinationals with some foreign operations, and they represented a broad cross-section of sectors, including technology, pharmaceuticals, consumer goods and heavy industry sectors. Their market capitalization ranged from $40 billion to $1.9 trillion.

The average effective tax rate the U.S. firms reported was 16%, compared with an average effective rate reported by their competitors of 24%.

To assess the impact of Biden's tax proposal on the U.S. firms, Reuters applied Biden's proposed rates of 28% for U.S. income and the proposed minimum rate of 21% on overseas income to the companies' 2020 earnings.

U.S. business lobbies say comparisons of effective tax rates, as in this analysis, don't offer a complete picture of how U.S. tax policy affects the global competitiveness of U.S. firms. They also argue that any tax boost will hurt American firms.

(Reporting by Tom Bergin; editing by Brian Thevenot)

By Tom Bergin

ę Reuters 2021
All news about BIKE24 HOLDING AG
07/22DGAP-PVR : BIKE24 Holding AG: Release according to Article 40, Section 1 of the ..
07/07DGAP-PVR : BIKE24 Holding AG: Release according to Article 40, Section 1 of the ..
06/30PRESS RELEASE : Notification of Stabilization Measures and Greenshoe-Option in a..
06/25BIKE24 : Germany's Bike24 Secures $800 Million Valuation On Trading Debut
06/25AUTO1 : Bike24 opens slightly above offer price in stock market debut
06/24DGAP-CMS : BIKE24 Holding AG: Release of the Home Member State according to Arti..
06/24DGAP-DD : BIKE24 Holding AG english
06/23DLP Resources Inc. announced that it has received CAD 1.30019 million in fund..
06/22PRESS RELEASE : BIKE24 sets final price for -2-
06/22PRESS RELEASE : BIKE24 sets final price for private placement at EUR 15.00 per s..
More news
Sales 2021 250 M 295 M 295 M
Net income 2021 6,36 M 7,53 M 7,53 M
Net cash 2021 22,4 M 26,6 M 26,6 M
P/E ratio 2021 118x
Yield 2021 -
Capitalization 800 M 947 M 947 M
EV / Sales 2021 3,12x
EV / Sales 2022 2,47x
Nbr of Employees -
Free-Float 79,8%
Duration : Period :
Bike24 Holding AG Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 18,10 €
Average target price 23,20 €
Spread / Average Target 28,2%
EPS Revisions
Sector and Competitors