Fundamental Equity Analysis - S&P 100 Index Components (OEX Index)

Fundamental Analysis &
Analyst Recommendations
S&P 100 Index Components
April 2013
Q.M.S Advisors
Q.M.S Advisors | Avenue de la Gare, 1 1003 Lausanne | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
This material does not constitute investment advice and should not be
viewed as a current or past recommendation or a solicitation of an
offer to buy or sell any securities or to adopt any investment strategy.

Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD)
Minority
Interest
(USD)
Cash and
Equivalents
(USD)
Enterprise
Value
(USD)
Tot. Rev. -
LFY
Est. Tot.
Rev. - Tr.
12M
Est. Tot.
Rev. - 2013
Est. Tot.
Rev. - 2014 EBITDA - LFY
Est. EBITDA -
Tr. 12M
Est. EBITDA -
2013
Est. EBITDA -
2014 EPS - LFY
Est. EPS -
Tr. 12M
Est. EPS -
2013
Est. EPS -
2014
P/E Ratio -
LFY
Est. P/E
Ratio - Tr.
12M
Est. P/E
Ratio - 2013
Est. P/E
Ratio - 2014
Est.
Revenue
Growth - 1Y
Est.
Revenue
Growth - 5Y
Est. EBITDA
Growth - 1Y
Est. Est.
EBITDA
Growth - 5Y
Est. EBITDA
Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Rating
Moody's LT Credit
Rating Date
S&P 500 INDEX USD 14532230 1927.407 1114 1114 204 218 218 101.81 110.54 110.54 15.51 15.51 14.28 14.28 18.76
Euro Stoxx 50 Pr EUR 2601821 5534.746 4671 4671 766 785 785 223.45 308.77 308.77 20.27 16.93 14.67 14.67 20.41
NIKKEI 225 JPY 2648110 187.4584 188 188 18 21 21 4.96 6.63 6.63 0.28 0.28 0.21 0.21 0.11
FTSE 100 INDEX GBP 2708977 11778.28 9425 9425 1461 1659 1659 534.87 824.88 824.88 27.99 23.16 18.15 18.15 22.78
SWISS MARKET INDEX CHF 1044313 11048.75 4126 4126 868 836 836 409.25 555.77 555.77 21.36 18.19 15.73 15.73 22.49
S&P/TSX COMPOSITE INDEX CAD 1583702 16543.48 7831 7831 1857 2073 2073 793.82 866.68 866.68 14.47 14.47 13.26 13.26 24.31
S&P/ASX 200 INDEX AUD 1401328 6684.531 2820 2820 622 697 697 248.91 335.95 335.95 21.65 17.37 16.04 16.04 22.89
HANG SENG INDEX HKD 1659527 3297.874 1706 1706 360 403 403 271.14 269.04 269.04 1.36 1.46 1.37 1.37 2.96
MSCI EM USD 7576270 1402.106 1036 1036 195 195 195 84.43 95.25 95.25 11.96 12.94 10.60 10.60 19.63
3M CO USD 74195 107 687 6 0 0 6 74.97 29904 29904 31475 33193 7771 7771 1978 1978 6.32 6.35 6.83 7.45 16.93 16.93 15.75 14.43 0.99 3.87 4.82 3.91 25.99 AA- 18.03.2009 Aa2 01.05.2009
ABBOTT LABORATORIES USD 58335 191 1577 20 0 0 15 63.73 39874 35795 22472 23813 11156 11906 937 937 5.07 4.36 2.00 2.26 8.52 8.52 18.61 16.43 2.63 -1.44 17.82 11.64 29.86 A+ 26.10.2012 A1 22.09.2010
ABBVIE INC USD 71029 218 1577 18 0 0 8 80.96 18380 18440 18884 7255 - 1607 1607 3.47 - 3.12 3.22 - - 14.40 13.94 5.37 - 30.36 - - A 26.10.2012 Baa1 05.11.2012
ACCENTURE PLC-CL A USD 53514 163 677 0 0 0 7 48.37 29778 30090 29058 30926 4467 4603 1296 1296 3.84 4.31 4.30 4.67 17.90 17.90 17.93 16.52 8.87 4.71 12.08 8.55 15.30 A+ 22.01.2002 - -
ALLSTATE CORP USD 23782 120 479 6 0 0 1 29.28 33315 33315 33589 34250 - - - - 4.36 4.34 4.74 5.17 11.48 11.48 10.51 9.64 2.02 0.34 - - - A- 29.01.2009 A3 29.01.2009
ALTRIA GROUP INC USD 71792 328 2010 14 0 0 3 82.81 17500 17500 17692 18020 7539 7539 1747 1747 2.21 2.21 2.40 2.57 16.16 16.16 14.91 13.91 5.30 -8.61 15.22 -12.44 43.08 BBB 06.01.2009 Baa1 24.10.2006
AMAZON.COM INC USD 121844 159 454 4 0 0 11 114.78 61093 61093 75573 92886 2835 2834 944 944 -0.23 -0.46 3.46 5.76 - - 77.47 46.50 27.07 30.56 45.76 25.77 4.64 AA- 26.11.2012 Baa1 26.11.2012
AMERICAN ELECTRIC POWER USD 24596 89 486 19 0 0 1 42.73 14945 14945 15849 16152 4874 4529 1151 1151 3.09 3.10 3.16 3.32 16.33 16.33 16.03 15.27 -1.13 2.01 3.42 4.80 30.30 BBB 07.03.2003 Baa2 14.09.2005
AMERICAN EXPRESS CO USD 73808 163 1105 62 0 0 22 104.81 33808 34020 32932 34804 11658 11658 - - 4.40 4.48 4.79 5.32 15.00 15.00 14.05 12.64 4.73 1.17 3.11 -4.80 34.48 BBB+ 30.04.2009 A3 24.04.2009
AMGEN INC USD 78720 725 756 27 0 0 24 81.34 17265 17455 17947 18388 6665 6665 1638 1638 6.00 6.36 7.27 8.27 16.53 16.53 14.47 12.72 10.80 3.45 24.07 2.92 38.60 A+ 07.09.2007 Baa1 07.11.2011
ANADARKO PETROLEUM CORP USD 42033 129 501 13 0 1 2 54.08 14060 14058 15113 16958 6950 6948 2297 2297 2.25 4.12 4.16 5.22 20.08 20.08 19.90 15.83 2.96 6.49 -5.48 4.50 49.42 BBB- 08.09.2006 Baa3 23.03.2012
APACHE CORP USD 27899 171 392 12 1 0 0 41.31 16947 16947 17740 19128 12283 12283 3066 3066 9.63 9.56 9.18 9.96 7.44 7.44 7.75 7.15 0.81 12.13 -2.14 10.90 72.48 A- 26.01.2001 A3 29.11.2010
APPLE INC USD 375713 3871 939 0 0 0 121 231.03 156508 169104 176389 194633 58518 57381 11095 11095 44.15 41.89 41.90 46.08 9.56 9.56 9.55 8.67 44.58 43.06 64.36 65.35 33.93 AA+ 23.04.2013 Aa1 23.04.2013
AT&T INC USD 199404 3100 5581 70 0 0 5 270.00 127434 126968 128519 130750 31140 30948 11190 11190 2.31 2.37 2.52 2.72 15.51 15.51 14.60 13.53 0.56 0.41 2.08 -5.80 24.37 A- 06.12.2010 A3 29.01.2013
BAKER HUGHES INC USD 19816 350 441 5 0 0 1 23.81 21361 21236 21650 23457 3760 3640 901 901 3.07 2.95 3.06 4.09 15.22 15.22 14.67 10.96 7.72 17.86 -11.24 6.08 17.14 A 05.05.2006 A2 25.01.1995
BANK OF AMERICA CORP USD 132466 3660 10778 673 19 0 349 100078 100131 90794 92423 - - - - 1.13 0.87 1.03 1.32 14.07 14.07 11.87 9.24 -13.26 1.88 - - - A- 29.11.2011 Baa2 21.06.2012
BANK OF NEW YORK MELLON CORP USD 32116 185 1163 62 1 1 145 15089 15512 14735 15418 - - - - 2.34 2.30 2.25 2.56 12.02 12.02 12.26 10.82 -4.52 -2.90 - - - A+ 29.11.2011 Aa3 08.03.2012
BAXTER INTERNATIONAL INC USD 37820 131 546 6 0 0 3 40.52 14190 14250 15485 16909 3533 3563 988 988 4.52 4.56 4.66 5.16 15.26 15.26 14.94 13.48 2.14 3.79 -2.30 3.77 25.00 A 06.12.2012 A3 *- 04.12.2012
BERKSHIRE HATHAWAY INC-CL B USD 263174 190 63 0 4 187 143.09 162463 162463 29524 29524 - - - - - - 13.07 10.60 34.15 4.33 18.17 AA+ 04.02.2010 Aa2 04.02.2010
BOEING CO/THE USD 69015 719 756 10 0 0 14 66.43 81698 81208 83857 91482 8118 8057 2012 2012 5.11 5.31 6.37 7.14 17.14 17.14 14.28 12.76 18.86 4.17 8.53 2.21 9.92 A 29.07.2009 A2 15.03.2006
BRISTOL-MYERS SQUIBB CO USD 68673 313 1630 7 0 0 6 69.73 17621 17621 16565 17843 4771 4771 908 908 1.82 1.88 1.83 2.15 22.23 22.23 22.80 19.43 -17.05 -1.91 -35.94 3.29 27.08 A+ 06.09.2006 A2 12.09.2006
CAPITAL ONE FINANCIAL CORP USD 32891 76 582 50 0 0 11 63.64 23177 24303 22116 21995 13429 13343 - - 6.24 6.02 6.58 6.67 9.36 9.36 8.55 8.44 25.11 6.31 37.13 2.50 57.57 BBB 17.06.2009 Baa1 17.02.2012
CATERPILLAR INC USD 55234 261 655 10 0 0 3 62.13 65875 63104 59614 63901 11966 10923 2336 2336 8.62 7.44 7.12 8.29 11.29 11.29 11.80 10.13 9.54 6.15 23.62 12.24 17.31 A 24.06.2003 A2 15.06.1995
CHEVRON CORP USD 229627 238 1947 12 0 1 21 221.92 222580 222580 238330 232880 48426 48426 11617 11617 12.10 12.12 12.44 12.57 9.75 9.75 9.50 9.40 -5.80 -0.13 -5.44 7.12 21.76 AA 01.07.1987 Aa1 27.02.2009
CISCO SYSTEMS INC USD 108666 3255 5298 16 0 0 49 78.59 46061 47252 48711 51405 12971 13372 3802 3802 1.60 1.48 2.00 2.11 13.81 13.81 10.22 9.66 6.58 4.44 18.36 5.10 28.30 A+ 10.02.2006 A1 10.02.2006
CITIGROUP INC USD 142377 872 3029 624 3 2 36 800.44 90708 90629 78925 80916 41810 41647 - - 4.83 4.15 4.70 5.32 11.27 11.27 9.96 8.80 -11.58 -2.29 -21.93 -15.72 45.84 A- 29.11.2011 Baa2 21.06.2012
COCA-COLA CO/THE USD 189173 678 4469 33 0 0 17 206.28 48017 47915 48720 51082 12761 12686 4036 4036 2.01 2.02 2.15 2.35 21.11 21.11 19.75 18.13 3.17 9.37 5.23 8.68 26.48 AA- 13.09.2012 Aa3 16.08.2007
COLGATE-PALMOLIVE CO USD 55810 122 468 5 0 0 1 60.36 17085 17085 17696 18675 4314 4314 1089 1089 5.36 5.35 5.70 6.30 22.28 22.28 20.91 18.93 2.10 3.41 1.22 7.63 25.25 AA- 04.05.2001 Aa3 18.06.2001
COMCAST CORP-CLASS A USD 106604 498 2639 40 0 17 12 152.08 62570 62570 64180 67996 19977 19977 5003 5003 1.92 1.93 2.36 2.70 21.15 21.15 17.27 15.11 12.05 16.15 8.82 11.13 31.93 A- 14.02.2013 A3 13.02.2013
CONOCOPHILLIPS USD 71208 384 1220 22 0 0 4 89.76 57967 96888 54799 57508 19396 20383 5690 5690 5.37 6.09 5.49 6.03 9.58 9.58 10.62 9.68 -9.70 -13.33 -10.41 -8.76 21.04 A 07.02.2012 A1 26.04.2012
COSTCO WHOLESALE CORP USD 47202 146 432 1 0 0 5 46.59 99137 103128 106074 115137 3667 3874 932 932 3.96 4.35 4.55 5.03 24.84 24.84 23.76 21.50 11.50 8.06 11.02 10.87 3.76 A+ 28.11.2012 A1 26.03.2012
CVS CAREMARK CORP USD 71422 119 1231 10 0 0 1 79.87 123133 123133 125265 130146 8981 8981 2064 2064 3.20 3.20 3.97 4.41 18.13 18.13 14.63 13.16 14.97 7.65 13.71 8.81 7.29 BBB+ 23.03.2007 Baa2 13.02.2007
DEVON ENERGY CORPORATION USD 21693 135 406 12 0 0 7 26.36 9679 9651 9799 11129 5253 5225 1201 1201 3.30 3.27 3.52 4.86 16.34 16.34 15.18 11.01 -11.73 -3.07 -17.78 -6.57 54.14 BBB+ 18.03.2008 Baa1 21.09.2007
DOW CHEMICAL CO/THE USD 38528 272 1203 21 4 1 4 60.33 56786 56786 58998 61720 6645 6425 2121 2121 1.90 1.91 2.35 2.93 16.75 16.75 13.63 10.93 -5.33 0.57 -3.82 1.85 11.31 BBB 11.05.2011 Baa2 02.11.2012
EBAY INC USD 69185 987 1294 5 0 0 9 64.31 14072 14542 16325 19014 4088 4285 1247 1247 1.95 2.01 2.74 3.23 26.52 26.52 19.45 16.51 20.77 11.98 23.39 9.42 29.47 A 02.03.2010 A2 21.10.2010
DU PONT (E.I.) DE NEMOURS USD 48389 472 933 12 0 0 4 55.39 34812 36129 36053 38330 4794 4817 2153 2153 3.33 3.36 3.90 4.36 15.68 15.68 13.52 12.07 3.36 5.29 -4.99 2.35 13.33 A 17.05.2011 A2 15.07.2011
ELI LILLY & CO USD 64346 320 1144 6 0 0 6 64.20 22603 22603 22988 19862 6478 6477 1610 1610 3.39 3.61 3.90 2.82 15.78 15.78 14.59 20.23 -6.93 3.21 -15.78 2.06 28.66 AA- 19.08.2010 A2 08.11.2010
EMC CORP/MA USD 47602 1357 2107 3 0 1 6 43.95 21714 22007 23461 25451 5602 5659 1791 1791 1.26 1.26 1.86 2.07 17.95 17.95 12.17 10.94 8.53 9.81 12.92 15.81 25.71 A 25.06.2012 WR 01.08.2000
EMERSON ELECTRIC CO USD 39786 162 724 5 0 0 2 42.85 24412 24656 25181 26472 5155 5269 1124 1124 3.34 3.42 3.59 3.99 16.11 16.11 15.35 13.81 0.78 0.48 1.16 4.42 21.37 A 04.02.2002 A2 15.02.2002
EXELON CORP USD 31630 257 855 20 0 0 1 50.13 23489 23489 25691 25551 6550 6550 1670 1670 2.85 2.55 2.49 2.32 14.50 14.50 14.83 15.94 23.22 8.12 -3.45 -0.89 27.89 BBB 22.07.2009 Baa2 08.11.2012
EXXON MOBIL CORP USD 400911 451 4502 12 0 6 10 408.71 420714 426252 434881 442168 65769 67270 20192 20192 7.56 7.89 7.96 8.16 11.34 11.34 11.24 10.97 -2.96 2.37 -5.62 -1.21 15.78 AAA 16.12.1985 WR 16.08.1993
FEDEX CORP USD 30071 224 317 2 0 0 3 28.94 42680 43860 44352 46752 5433 5393 1619 1619 6.59 6.17 6.09 7.54 15.38 15.38 15.59 12.59 8.59 3.44 22.36 1.60 12.30 BBB 11.02.2004 Baa1 13.01.2012
FORD MOTOR CO USD 51104 2468 3946 14 0 0 24 42.90 134252 137607 134617 141218 12513 13404 2921 2921 1.40 1.33 1.42 1.70 9.98 9.98 9.37 7.80 -1.48 -0.20 -8.19 -0.09 9.98 BB+ 21.10.2011 Baa3 22.05.2012
FREEPORT-MCMORAN COPPER USD 28040 845 949 4 0 4 4 32.45 18010 17988 21856 23602 6934 6617 1941 1941 3.27 2.95 3.71 4.25 10.01 10.01 7.95 6.94 -13.75 4.92 -31.77 -2.37 36.79 BBB 29.07.2011 Baa3 13.10.2010
GENERAL DYNAMICS CORP USD 24854 269 354 4 0 0 3 25.02 31513 31338 31428 31243 3447 1428 1011 1011 6.48 6.48 6.67 7.12 10.86 10.86 10.54 9.89 -3.56 1.45 -21.98 -0.51 4.56 A 09.07.1999 A2 07.08.2003
GENERAL ELECTRIC CO USD 225049 2184 10406 17 0 5 16 220.55 144796 143566 148360 153732 25000 25000 7380 7380 1.54 1.53 1.67 1.82 14.18 14.18 13.00 11.94 1.81 -4.28 -0.16 -6.95 17.27 AA+ 12.03.2009 Aa3 03.04.2012
GILEAD SCIENCES INC USD 78616 1236 1519 8 0 0 3 84.50 9703 9703 10810 13038 4288 4288 1111 1111 1.69 1.68 2.08 3.00 30.79 30.79 24.79 17.22 15.71 19.77 4.80 14.12 44.20 A- 23.03.2011 Baa1 23.03.2011
GOLDMAN SACHS GROUP INC USD 68991 94 481 511 6 1 73 513.72 41664 41636 34266 35053 20446 20446 - - 15.03 15.25 14.31 15.25 9.42 9.42 10.04 9.42 13.24 -6.82 27.63 -19.57 49.07 A- 29.11.2011 A3 21.06.2012
GOOGLE INC-CL A USD 269758 143 330 6 0 0 50 223.33 50175 54703 47546 55173 15722 16160 5164 5164 34.02 34.99 46.21 53.30 23.29 23.29 17.64 15.29 32.37 22.23 15.66 21.04 29.54 AA 19.11.2012 Aa2 16.05.2011
HALLIBURTON CO USD 38068 796 929 5 0 0 2 40.89 28503 28609 29656 32652 5787 4729 1507 1507 3.02 2.17 3.18 4.02 18.84 18.84 12.86 10.18 14.80 13.05 -5.07 7.51 16.53 A 20.08.2007 A2 01.05.2007
Valuation Measures I/II
Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD)
Minority
Interest
(USD)
Cash and
Equivalents
(USD)
Enterprise
Value
(USD)
Tot. Rev. -
LFY
Est. Tot.
Rev. - Tr.
12M
Est. Tot.
Rev. - 2013
Est. Tot.
Rev. - 2014 EBITDA - LFY
Est. EBITDA -
Tr. 12M
Est. EBITDA -
2013
Est. EBITDA -
2014 EPS - LFY
Est. EPS -
Tr. 12M
Est. EPS -
2013
Est. EPS -
2014
P/E Ratio -
LFY
Est. P/E
Ratio - Tr.
12M
Est. P/E
Ratio - 2013
Est. P/E
Ratio - 2014
Est.
Revenue
Growth - 1Y
Est.
Revenue
Growth - 5Y
Est. EBITDA
Growth - 1Y
Est. Est.
EBITDA
Growth - 5Y
Est. EBITDA
Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Rating
Moody's LT Credit
Rating Date
S&P 500 INDEX USD 14532230 1927.407 1114 1114 204 218 218 101.81 110.54 110.54 15.51 15.51 14.28 14.28 18.76
Euro Stoxx 50 Pr EUR 2601821 5534.746 4671 4671 766 785 785 223.45 308.77 308.77 20.27 16.93 14.67 14.67 20.41
NIKKEI 225 JPY 2648110 187.4584 188 188 18 21 21 4.96 6.63 6.63 0.28 0.28 0.21 0.21 0.11
FTSE 100 INDEX GBP 2708977 11778.28 9425 9425 1461 1659 1659 534.87 824.88 824.88 27.99 23.16 18.15 18.15 22.78
SWISS MARKET INDEX CHF 1044313 11048.75 4126 4126 868 836 836 409.25 555.77 555.77 21.36 18.19 15.73 15.73 22.49
S&P/TSX COMPOSITE INDEX CAD 1583702 16543.48 7831 7831 1857 2073 2073 793.82 866.68 866.68 14.47 14.47 13.26 13.26 24.31
S&P/ASX 200 INDEX AUD 1401328 6684.531 2820 2820 622 697 697 248.91 335.95 335.95 21.65 17.37 16.04 16.04 22.89
HANG SENG INDEX HKD 1659527 3297.874 1706 1706 360 403 403 271.14 269.04 269.04 1.36 1.46 1.37 1.37 2.96
MSCI EM USD 7576270 1402.106 1036 1036 195 195 195 84.43 95.25 95.25 11.96 12.94 10.60 10.60 19.63
HEWLETT-PACKARD CO USD 38939 939 1963 28 0 0 11 54.97 120357 118680 113062 111769 14384 14026 3445 3445 0.31 0.21 3.44 3.58 95.38 95.38 5.82 5.59 -5.41 0.09 -12.15 3.69 11.82 BBB+ 30.11.2011 Baa1 28.11.2012
HJ HEINZ CO USD 23257 69 320 5 0 0 1 27.22 11649 11601 11640 12040 1794 1919 659 659 3.35 3.56 3.58 3.81 20.31 20.31 20.25 19.01 8.80 2.60 -7.85 0.93 16.54 BBB+ *- 14.02.2013 Baa2 *- 14.02.2013
HOME DEPOT INC USD 109438 286 1484 11 0 0 2 117.74 74754 74754 76920 80427 9450 9450 2335 2335 3.10 3.07 3.53 4.12 24.00 24.00 20.87 17.87 6.19 1.22 13.27 0.65 12.64 A- 16.11.2011 A3 30.08.2011
HONEYWELL INTERNATIONAL INC USD 58867 260 783 7 0 0 5 61.68 37665 37686 39172 41451 5082 5220 1712 1712 4.84 4.95 4.95 5.53 15.12 15.12 15.11 13.53 3.11 1.38 43.93 2.19 13.85 A 03.07.2001 A2 12.10.2001
INTEL CORP USD 115267 2868 4944 13 0 0 23 106.73 53341 53015 53546 55881 22160 21148 4604 4604 2.13 2.00 1.92 2.03 11.65 11.65 12.16 11.49 -1.22 8.14 -5.87 10.34 39.89 A+ 17.02.1993 A1 14.09.2011
INTL BUSINESS MACHINES CORP USD 213561 231 1117 33 0 0 11 235.09 104507 103242 103589 106373 25119 25121 6332 6332 15.25 15.52 16.69 18.34 12.35 12.35 11.48 10.45 -2.25 -0.66 0.07 6.06 24.04 AA- 30.05.2012 Aa3 23.11.2010
JOHNSON & JOHNSON USD 237692 424 2778 16 0 0 21 232.77 67224 68590 70938 73794 20698 20698 5713 5713 5.10 5.19 5.41 5.78 16.37 16.37 15.71 14.72 3.37 1.71 7.18 2.84 30.79 AAA 17.09.1987 Aaa 10.08.1987
JPMORGAN CHASE & CO USD 183351 652 3804 696 9 0 472 108184 106713 99662 102507 - - - - 6.04 5.97 5.63 5.94 8.10 8.10 8.59 8.14 -2.39 0.82 - - - A 29.11.2011 A2 21.06.2012
LOCKHEED MARTIN CORP USD 31568 116 321 6 0 0 2 34.81 47182 46959 44956 43822 5470 5515 1335 1335 10.19 10.49 8.97 9.03 9.33 9.33 10.91 10.84 1.47 2.13 6.75 0.46 11.74 A- 27.04.2007 Baa1 26.01.2006
LOWE'S COS INC USD 41200 308 1110 9 0 0 1 49.61 50521 50521 52396 54326 5183 5182 1424 1424 1.69 1.74 2.09 2.53 21.75 21.75 18.08 14.94 0.62 1.41 6.73 -3.42 10.26 A- 19.09.2012 A3 14.11.2011
MASTERCARD INC-CLASS A USD 65436 15 123 0 0 0 5 60.44 7391 7391 8263 9276 4187 4187 1182 1182 22.04 22.05 25.42 30.12 24.17 24.17 20.97 17.69 10.08 12.15 13.87 27.78 56.65 A- 19.08.2011 - -
MCDONALD'S CORP USD 100881 289 1003 14 0 0 2 112.18 27567 27626 28608 30193 10101 10101 2608 2608 5.37 5.39 5.72 6.27 18.66 18.66 17.59 16.06 2.08 3.57 1.61 8.06 36.64 A 08.05.2003 A2 17.12.2010
MEDTRONIC INC USD 47101 159 1037 11 0 0 3 56.06 16184 16427 16517 17010 5680 5616 1588 1588 3.22 3.51 3.69 3.86 13.24 13.24 12.58 12.05 4.36 3.47 5.69 5.58 34.19 A+ 14.02.2012 A2 14.03.2013
MERCK & CO. INC. USD 146887 1231 3027 21 0 2 16 153.76 47267 47268 46114 46871 16855 17488 3571 3571 3.65 3.82 3.63 3.83 12.72 12.72 13.37 12.70 -1.62 16.18 -0.94 16.19 37.00 AA 24.11.2010 Aa3 05.11.2009
METLIFE INC USD 41414 349 1092 27 2 1 16 54.83 68150 68150 70029 72063 - - - - 5.28 5.27 5.28 5.65 7.19 7.19 7.17 6.70 -2.98 15.20 - - - A- 06.08.2010 A3 16.12.2009
MICROSOFT CORP USD 258216 3276 8381 12 0 0 63 197.93 73723 76012 78769 84913 30923 30645 8701 8701 2.73 2.68 2.77 3.08 11.54 11.54 11.15 10.03 5.40 7.53 3.33 9.15 40.32 AAA 22.09.2008 Aaa 11.05.2009
MONDELEZ INTERNATIONAL INC-A USD 56443 700 1778 19 0 0 4 71.53 35015 48783 36487 38535 5028 7727 1371 1371 1.39 2.24 1.56 1.76 14.17 14.17 20.29 18.05 -2.22 0.57 1.00 -0.96 15.84 BBB 02.02.2010 Baa2 02.02.2010
MONSANTO CO USD 55413 84 534 2 0 0 4 53.08 13504 14740 15150 16169 3760 4321 1487 1487 3.70 4.77 4.61 5.31 21.76 21.76 22.50 19.58 14.23 8.21 20.67 14.20 29.31 A+ 21.10.2008 A1 21.02.2012
MORGAN STANLEY USD 42368 397 1974 451 2 8 47 455.45 32036 33168 31901 34097 8020 8293 - - 1.58 1.57 2.05 2.54 13.76 13.76 10.56 8.49 -18.15 3.15 -44.32 -33.50 25.65 A- 29.11.2011 Baa1 21.06.2012
NATIONAL OILWELL VARCO INC USD 28653 147 427 3 0 0 3 28.60 20041 20041 22783 24456 4185 4185 1045 1045 5.91 5.90 5.96 6.85 11.38 11.38 11.28 9.81 36.72 18.90 19.85 13.13 20.88 A 25.04.2012 A2 14.05.2012
NEWS CORP-CL A USD 73030 651 2383 15 1 10 83.18 33706 34333 35733 38032 6646 6754 1688 1688 1.41 1.57 1.67 1.96 19.99 19.99 18.76 16.04 0.90 2.06 8.36 4.21 19.67 BBB+ 30.11.2012 - -
NIKE INC -CL B USD 55100 148 916 0 0 0 4 51.38 24128 25281 25342 27488 3413 3521 994 994 2.38 2.53 2.67 3.06 24.38 24.38 23.08 20.18 15.66 6.47 8.35 7.28 13.93 A+ 10.06.2005 A1 29.04.2008
NORFOLK SOUTHERN CORP USD 23575 138 314 9 0 0 1 31.37 11040 10989 11287 12006 4046 3994 1091 1091 5.37 5.36 5.59 6.38 13.96 13.96 13.39 11.73 -1.18 2.92 -0.88 3.72 36.35 BBB+ 18.07.2005 Baa1 06.05.1997
OCCIDENTAL PETROLEUM CORP USD 66796 154 806 8 0 0 2 72.86 24172 24172 26160 26510 13701 13701 3720 3720 7.09 7.09 7.08 7.55 11.69 11.69 11.71 10.98 0.97 4.02 -3.30 6.01 56.68 A 23.06.2008 A1 19.04.2012
ORACLE CORP USD 153238 1487 4905 16 0 0 31 140.02 37121 37149 37423 39512 16973 17286 5889 5889 2.00 2.16 2.69 2.93 15.06 15.06 12.10 11.10 4.21 11.70 9.33 18.51 46.53 A+ 24.04.2012 A1 24.06.2011
PEPSICO INC USD 129219 228 1544 28 0 0 7 151.76 65492 65645 67746 71006 11801 11733 3440 3440 4.10 4.11 4.42 4.78 20.32 20.32 18.90 17.47 -1.52 9.06 -4.60 6.54 17.87 A 17.03.2010 Aa3 24.02.2010
PFIZER INC USD 221749 1313 7276 37 0 0 33 226.96 58986 59506 57140 56427 27270 26532 6776 6776 2.19 2.21 2.27 2.39 13.96 13.96 13.58 12.91 -9.61 3.95 -9.21 6.42 44.59 AA 16.10.2009 A1 15.10.2009
PHILIP MORRIS INTERNATIONAL USD 154908 207 1654 23 0 2 3 178.11 31377 31513 32295 33995 14827 14603 3967 3967 5.22 5.24 5.62 6.27 18.00 18.00 16.77 15.03 0.90 5.33 2.72 8.64 46.34 A 05.03.2008 A2 11.09.2008
PROCTER & GAMBLE CO/THE USD 212714 1575 2748 30 1 1 4 239.06 83680 83724 84591 87505 18072 17876 4160 4160 3.85 4.01 4.06 4.37 19.42 19.42 19.17 17.85 1.36 0.76 -3.13 -0.55 21.35 AA- 10.05.2005 Aa3 01.07.2005
QUALCOMM INC USD 113826 809 1706 0 0 0 27 85.51 19121 20458 24158 26920 6579 7149 2463 2463 2.79 3.84 4.54 4.93 17.25 17.25 14.60 13.43 27.84 20.60 8.08 15.03 34.94 NR 19.12.2001 - -
RAYTHEON COMPANY USD 18860 87 328 5 0 0 4 19.71 24414 24414 23806 23344 3444 3444 749 749 6.20 6.22 5.31 5.53 9.29 9.29 10.88 10.46 -1.52 1.56 5.19 4.99 14.11 A- 04.09.2008 A3 17.10.2011
SCHLUMBERGER LTD USD 96805 421 1328 12 0 0 6 102.34 42149 42931 45719 50928 11020 11055 2982 2982 4.16 4.15 4.67 5.68 17.53 17.53 15.57 12.81 14.04 13.40 12.52 5.53 25.80 A+ 11.12.2002 A1 03.06.2003
SIMON PROPERTY GROUP INC USD 54472 45 310 23 0 1 1 77.60 4880 4880 5177 5440 3491 3483 933 933 4.72 4.74 3.51 4.09 37.07 37.07 50.11 43.00 13.32 5.52 15.76 7.34 71.37 A- 10.05.2010 - -
SOUTHERN CO/THE USD 41717 433 868 22 1 0 1 64.60 16537 16830 17736 18403 6589 6589 1563 1563 2.65 2.73 2.76 2.89 17.55 17.55 17.36 16.57 -6.34 1.48 4.94 6.49 39.84 A 21.12.2000 Baa1 12.08.2010
STARBUCKS CORP USD 44463 262 749 1 0 0 2 42.56 13300 13663 14930 16722 2367 2446 689 689 1.79 1.86 2.17 2.62 31.90 31.90 27.38 22.64 13.67 6.80 14.11 10.50 17.90 A- 24.02.2012 Baa3 13.05.2009
TARGET CORP USD 44673 241 645 18 0 0 1 61.54 73301 73301 75155 79905 7352 7353 1649 1649 4.76 4.56 4.90 5.50 15.27 15.27 14.22 12.67 4.92 2.75 -1.36 1.19 10.03 A+ 20.11.2007 A2 27.11.2007
TEXAS INSTRUMENTS INC USD 39397 810 1108 6 0 0 4 41.22 12825 12589 12217 12888 3986 3908 943 943 1.91 1.80 1.80 2.21 19.73 19.73 19.73 16.05 -6.63 1.54 -10.10 -2.68 31.04 A+ 23.09.2010 A1 25.05.2011
TIME WARNER INC USD 56321 110 932 20 0 0 3 73.35 28729 28729 29726 31060 7106 7106 1648 1648 3.36 3.37 3.68 4.27 17.89 17.89 16.37 14.11 -0.85 -5.96 3.33 -18.04 24.73 BBB 27.03.2009 Baa2 06.03.2006
UNION PACIFIC CORP USD 68402 62 469 9 0 0 1 76.35 20926 21104 22269 23904 8505 8635 2316 2316 8.24 8.49 9.52 10.88 17.26 17.26 15.40 13.47 7.00 5.33 15.86 12.61 40.92 A- 23.04.2012 Baa1 26.10.2012
UNITED PARCEL SERVICE-CL B USD 78802 249 953 13 0 0 8 83.83 54127 54127 56762 60184 3201 3201 2013 2013 4.53 4.53 4.99 5.70 18.39 18.39 16.71 14.62 1.92 1.83 -59.29 6.62 5.91 A+ 21.09.2012 Aa3 16.01.2013
UNITED TECHNOLOGIES CORP USD 84175 286 919 23 0 1 5 103.86 57708 59691 64726 68379 9208 9625 2830 2830 5.40 5.60 6.11 6.98 16.39 16.39 15.03 13.16 3.50 1.05 1.09 2.29 16.12 A 02.10.2003 A2 22.04.1993
UNITEDHEALTH GROUP INC USD 60573 327 1019 17 0 2 11 67.75 110618 113676 122595 133548 10563 10425 2458 2458 5.28 5.13 5.45 5.85 11.52 11.52 10.85 10.11 8.60 8.38 10.17 4.09 9.17 A 24.09.2012 A3 21.07.2011
US BANCORP USD 61156 297 1869 52 5 1 8 22202 22007 20024 20626 - - - - 2.87 2.93 3.04 3.25 11.20 11.20 10.78 10.11 3.58 0.22 - - - A+ 20.08.2012 A1 06.12.2012
VERIZON COMMUNICATIONS INC USD 146798 759 2859 52 52 4 247.82 115846 117024 120534 125264 29620 30737 10596 10596 2.91 3.00 2.80 3.21 17.13 17.13 18.36 15.98 4.48 4.38 0.83 -0.97 26.27 A- 06.12.2010 A3 29.10.2008
VISA INC-CLASS A SHARES USD 110416 92 811 0 0 0 6 104.23 10421 10720 11581 12900 6572 6769 1852 1852 6.20 6.52 7.34 8.51 25.63 25.63 22.77 19.64 13.42 13.86 14.28 37.44 63.14 A+ 20.05.2008 - -
WAL-MART STORES INC USD 260926 295 3314 54 0 5 8 312.68 469162 469162 491789 514317 36302 36302 8036 8036 5.02 5.02 5.35 5.88 15.79 15.79 14.82 13.48 4.97 3.61 4.65 5.13 7.74 AA 09.07.1999 Aa2 06.03.1996
WALGREEN CO USD 46446 299 944 5 0 0 1 50.37 71633 70788 72615 75965 4630 4516 1492 1492 2.53 2.41 3.26 3.71 20.34 20.34 15.02 13.22 -0.76 3.97 -8.48 3.89 6.38 BBB 02.08.2012 Baa1 02.08.2012
WALT DISNEY CO/THE USD 112244 318 1780 14 0 2 3 128.84 42278 42840 45161 47974 10850 - 2750 2750 3.13 3.09 3.45 3.89 20.15 20.15 18.04 15.99 3.39 1.83 12.76 5.45 - A 22.12.2009 A2 23.05.2007
WELLS FARGO & CO USD 196796 592 5266 185 13 1 159 91247 90651 84755 86148 - - - - 3.39 3.56 3.71 3.92 10.45 10.45 10.03 9.50 4.17 14.16 - - - A+ 29.11.2011 A2 21.09.2011
WILLIAMS COS INC USD 26035 131 681 11 0 3 1 38.61 7486 7517 8117 9196 2368 2382 675 675 1.21 1.12 0.97 1.39 34.11 34.11 39.38 27.53 -5.60 -3.35 -31.97 -4.73 31.69 BBB 05.03.2012 Baa3 15.11.2007
Valuation Measures I/II
Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth

2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot
S&P 500 INDEX 2.21 2.21 2.02 1.84 2.21 1.42 1.42 1.36 1.30 1.42 9.87 9.87 9.26 9.54 9.87 8.83 8.83 8.15 7.63 8.83 14.28 14.28 12.81 11.63 14.28 2.19 2.19 2.35 2.54 2.19 1713.4 8.5%
Euro Stoxx 50 Pr 1.16 1.16 1.10 1.03 1.16 0.75 0.75 0.72 0.70 0.75 5.53 5.53 5.16 4.79 5.53 7.05 7.05 6.67 6.34 7.05 11.28 11.28 10.09 9.21 11.27 4.28 4.28 4.60 4.91 4.28 2912.8 8.9%
NIKKEI 225 1.57 1.57 1.47 1.42 1.57 0.74 0.74 0.72 0.71 0.74 9.10 9.10 8.47 8.23 9.10 8.77 8.77 8.17 7.84 8.77 20.95 20.95 16.44 14.59 20.95 1.49 1.49 1.72 1.87 1.49 12967.3 -6.3%
FTSE 100 INDEX 1.69 1.69 1.57 1.36 1.69 1.04 1.04 1.00 0.98 1.04 8.31 8.31 7.55 6.02 8.31 7.10 7.10 6.66 6.32 7.10 11.88 11.88 10.76 9.89 11.88 3.90 3.90 4.19 4.59 3.90 6894.5 7.5%
SWISS MARKET INDEX 2.37 2.37 2.23 2.03 2.37 2.01 2.01 1.90 1.82 2.01 12.26 12.26 11.26 10.01 12.26 13.22 13.22 12.23 11.44 13.22 14.89 14.89 13.33 12.11 14.89 3.29 3.29 3.66 4.17 3.29 8232.9 5.2%
S&P/TSX COMPOSITE INDEX 1.61 1.61 1.49 1.39 1.61 1.50 1.50 1.42 1.36 1.50 8.07 8.07 7.27 6.73 8.07 7.98 7.98 7.09 6.67 7.98 13.60 13.60 12.04 11.06 13.60 3.29 3.29 3.45 3.67 3.29 14426.1 19.3%
S&P/ASX 200 INDEX 1.93 1.93 1.83 1.73 1.93 1.86 1.86 1.75 1.66 1.86 11.50 11.50 10.23 9.33 11.50 9.59 9.59 8.47 7.83 9.59 15.61 15.61 13.94 12.80 15.61 4.27 4.27 4.58 4.94 4.27 5161.4 1.2%
HANG SENG INDEX 1.32 1.32 1.21 1.11 1.32 1.68 1.68 1.55 1.43 1.68 7.92 7.92 7.44 7.10 7.92 8.18 8.18 7.46 6.90 8.18 10.62 10.62 9.75 8.81 10.62 3.64 3.64 3.93 4.35 3.64 24850.7 12.0%
MSCI EM 1.41 1.41 1.28 1.19 1.41 0.98 0.98 0.91 0.87 0.98 6.87 6.87 6.34 5.99 6.87 7.18 7.18 6.56 6.23 7.18 10.60 10.60 9.52 8.91 10.60 3.15 3.15 3.61 3.52 3.15 1179.5 16.8%
3M CO 4.28 3.84 3.40 3.02 2.49 2.36 2.24 2.12 14.52 12.81 11.82 9.87 9.66 9.10 8.47 7.86 17.03 15.75 14.43 13.20 2.20 2.35 2.53 2.56 110.67 2.9%
ABBOTT LABORATORIES 2.29 2.54 2.34 2.09 1.47 2.60 2.45 2.19 2.16 6.49 15.99 14.63 12.52 13.91 5.07 12.28 11.34 10.14 8.58 7.34 18.61 16.43 14.79 13.17 2.10 1.52 1.70 1.91 2.10 37.80 1.8%
ABBVIE INC 25.86 13.37 9.14 6.84 3.87 3.85 3.76 3.54 3.33 10.44 11.75 11.84 11.13 10.17 10.72 11.01 10.87 10.07 9.36 11.97 14.40 13.94 12.60 11.29 3.57 3.57 3.67 3.86 4.64 43.67 -2.7%
ACCENTURE PLC-CL A 10.98 8.95 7.23 6.45 1.92 1.84 1.72 1.62 1.49 15.27 13.21 13.33 12.20 11.02 9.96 9.53 8.97 8.32 20.13 17.94 16.52 15.32 1.67 2.10 2.31 2.42 79.63 3.2%
ALLSTATE CORP 1.18 1.09 1.00 0.91 0.72 0.71 0.69 0.69 13.48 10.51 9.64 9.01 1.77 1.96 2.08 2.17 52.83 6.1%
ALTRIA GROUP INC 18.51 17.26 16.07 14.65 4.13 4.06 3.98 4.02 20.73 17.07 15.81 14.31 10.97 10.73 10.30 10.04 16.19 14.91 13.91 13.08 4.79 5.16 5.59 6.01 36.25 1.5%
AMAZON.COM INC 15.92 13.09 10.69 8.12 6.44 1.96 1.61 1.31 1.08 0.88 41.33 29.11 19.63 14.66 7.90 35.71 24.84 18.11 13.20 9.27 139.33 77.51 46.50 26.55 17.80 0.00 0.00 0.00 0.00 315.00 17.7%
AMERICAN ELECTRIC POWER 1.61 1.54 1.48 1.42 1.59 1.55 1.52 1.54 1.55 7.30 6.97 7.16 7.24 8.96 8.91 8.63 8.65 14.78 16.64 16.03 15.27 14.71 14.30 3.71 3.82 3.99 4.16 4.33 50.56 -0.1%
AMERICAN EXPRESS CO 3.89 3.69 3.36 3.36 2.34 2.24 2.12 1.98 15.42 14.05 12.64 11.32 1.18 1.32 1.45 1.60 68.65 2.1%
AMGEN INC 4.11 3.45 3.03 2.64 4.57 4.39 4.28 4.26 4.24 12.76 14.21 12.94 14.52 27.75 10.94 11.04 9.86 9.60 16.19 14.47 12.72 12.19 11.89 1.36 1.78 2.18 2.40 2.26 109.18 3.8%
ANADARKO PETROLEUM CORP 1.97 1.76 1.57 1.36 3.15 2.78 2.48 2.28 2.19 5.58 5.19 4.63 3.84 4.10 6.48 5.55 4.91 4.40 4.35 24.71 19.89 15.83 14.03 13.60 0.44 0.44 0.44 0.44 107.63 30.1%
APACHE CORP 0.90 0.80 0.72 0.69 1.64 1.57 1.46 1.40 2.88 2.84 2.60 2.33 3.37 3.28 3.04 2.97 7.42 7.75 7.15 7.07 0.99 1.12 1.14 1.17 98.88 38.9%
APPLE INC 3.21 2.64 2.28 1.80 1.32 2.40 2.12 1.93 1.73 1.55 7.29 6.83 6.62 6.11 4.07 4.15 3.77 3.40 2.80 9.04 9.53 8.68 7.87 8.65 0.66 2.77 3.01 3.31 2.65 543.52 35.8%
AT&T INC 2.14 2.30 2.22 2.19 2.43 1.57 1.55 1.52 1.49 1.47 6.17 6.01 5.90 5.78 6.48 6.43 6.19 5.95 5.70 15.63 14.60 13.54 12.70 11.72 4.81 4.93 5.04 5.19 5.32 37.45 1.9%
BAKER HUGHES INC 1.14 1.08 1.00 0.92 0.94 0.91 0.84 0.79 7.94 6.90 5.67 5.40 6.20 6.07 5.06 4.53 14.01 14.65 10.96 9.35 1.41 1.34 1.34 1.37 50.27 12.1%
BANK OF AMERICA CORP 0.60 0.58 0.54 0.52 0.47 1.52 1.46 1.43 1.39 1.36 29.49 11.35 8.63 7.60 21.14 11.86 9.24 8.11 6.21 0.32 0.49 1.57 2.48 4.90 13.05 6.6%
BANK OF NEW YORK MELLON CORP 0.90 0.87 0.83 0.80 2.21 2.18 2.08 1.99 12.02 10.82 9.84 8.64 12.98 12.27 10.82 9.73 1.88 2.13 2.44 2.81 29.33 6.1%
BAXTER INTERNATIONAL INC 5.15 4.61 3.83 3.23 3.00 2.67 2.44 2.24 2.14 2.03 12.78 11.85 10.11 9.40 9.14 10.24 9.61 8.61 8.09 7.50 15.38 14.94 13.48 12.36 11.22 2.07 2.49 2.63 2.96 3.32 76.08 9.3%
BERKSHIRE HATHAWAY INC-CL B 119.00 11.5%
BOEING CO/THE 8.39 7.93 7.30 5.65 0.84 0.82 0.75 0.74 0.70 13.24 11.03 9.00 9.90 8.37 8.20 7.27 6.96 18.15 14.29 12.76 11.65 10.85 1.93 2.07 2.29 2.43 93.95 3.2%
BRISTOL-MYERS SQUIBB CO 4.37 5.14 4.88 4.72 3.91 4.15 3.85 3.81 3.58 15.02 17.84 15.54 16.75 13.24 16.69 13.91 14.60 12.59 21.35 22.80 19.43 19.91 18.05 3.26 3.35 3.41 3.49 3.65 38.77 -7.3%
CAPITAL ONE FINANCIAL CORP 0.81 0.75 0.70 0.67 1.53 1.49 1.50 1.44 7.82 9.10 8.56 8.44 8.01 0.36 1.73 2.55 2.84 64.65 14.8%
CATERPILLAR INC 3.07 2.72 2.29 1.97 0.84 0.93 0.86 0.81 0.54 6.98 7.76 6.92 6.08 5.41 6.78 5.92 5.30 9.25 11.80 10.13 8.77 2.34 2.34 2.54 2.70 99.70 18.7%
CHEVRON CORP 1.70 1.54 1.39 1.28 1.16 0.97 0.96 0.99 0.91 0.84 6.18 5.78 5.57 5.16 4.60 3.91 3.95 3.87 3.75 3.50 9.59 9.51 9.40 9.06 8.47 2.97 3.17 3.37 3.56 3.64 131.10 10.9%
CISCO SYSTEMS INC 2.07 1.87 1.73 1.64 2.36 2.23 2.11 1.98 9.77 9.06 8.78 8.16 5.45 5.20 5.04 4.84 11.11 10.21 9.66 8.95 1.28 2.80 2.98 3.30 23.97 17.6%
CITIGROUP INC 0.73 0.71 0.66 0.61 2.00 1.80 1.76 1.68 13.60 9.45 8.35 7.48 11.48 9.96 8.80 7.62 0.09 0.28 1.31 2.40 53.50 14.3%
COCA-COLA CO/THE 5.91 5.73 5.38 5.06 3.93 3.88 3.70 3.52 3.33 17.50 16.68 15.09 13.82 12.85 15.41 14.71 13.73 12.73 11.85 21.24 19.75 18.13 16.71 15.15 2.41 2.63 2.82 3.13 3.22 46.06 8.3%
COLGATE-PALMOLIVE CO 9.97 25.72 23.95 16.53 3.26 3.15 2.99 2.82 2.63 18.86 17.73 16.05 14.54 13.16 13.71 13.21 12.16 11.34 10.04 22.27 20.92 18.93 17.21 15.60 2.01 2.23 2.42 2.69 3.04 117.65 -1.4%
COMCAST CORP-CLASS A 2.17 2.15 2.06 1.86 1.91 1.71 1.67 1.57 1.51 1.44 7.80 7.25 6.65 6.10 7.70 7.25 6.83 6.46 6.15 20.72 17.28 15.11 12.99 11.17 1.56 1.89 2.15 2.42 2.51 46.43 13.8%
CONOCOPHILLIPS 1.34 1.29 1.20 1.09 1.15 1.30 1.24 1.28 5.28 4.73 4.39 4.35 4.23 3.86 4.10 3.79 3.83 4.11 10.22 10.62 9.68 9.78 9.39 4.57 4.61 4.74 4.78 4.53 63.07 8.2%
COSTCO WHOLESALE CORP 3.59 4.27 3.84 3.28 3.23 0.48 0.44 0.41 0.39 0.36 13.99 14.91 13.59 13.14 12.68 11.37 10.35 9.49 8.80 27.94 23.76 21.50 19.69 17.74 0.92 6.69 1.17 1.33 1.21 108.91 0.7%
CVS CAREMARK CORP 1.95 1.85 1.76 1.66 0.58 0.57 0.55 0.54 0.51 12.15 10.54 9.59 8.73 8.93 8.20 7.74 7.48 6.74 17.05 14.63 13.16 11.77 10.74 1.12 1.48 1.76 2.30 60.20 3.8%
DEVON ENERGY CORPORATION 0.98 0.94 0.85 0.78 2.47 2.21 1.95 1.89 4.61 4.32 3.62 3.17 5.34 4.68 3.97 3.70 16.55 15.19 11.01 9.96 1.36 1.57 1.63 1.66 70.88 32.7%
DOW CHEMICAL CO/THE 1.72 1.79 1.66 1.53 0.68 0.65 0.62 0.60 0.57 7.98 7.79 6.26 5.70 8.09 7.31 6.59 6.20 5.44 16.63 13.63 10.93 9.17 8.20 3.83 4.08 4.22 4.31 35.67 11.5%
EBAY INC 3.46 2.99 2.55 2.21 1.86 4.92 4.24 3.64 3.09 2.73 17.79 14.57 12.78 10.67 9.47 13.85 11.92 10.28 8.56 7.41 22.66 19.45 16.51 14.09 12.31 0.00 0.00 0.00 0.00 63.81 19.7%
DU PONT (E.I.) DE NEMOURS 4.81 3.66 3.02 2.79 1.39 1.34 1.26 1.19 1.11 12.13 10.56 9.06 8.24 8.73 8.14 7.62 6.88 6.64 16.00 13.52 12.07 10.63 9.84 3.21 3.32 3.51 3.59 3.27 54.00 2.6%
ELI LILLY & CO 4.08 3.75 3.64 3.48 2.87 2.80 3.24 3.15 2.96 12.93 10.98 14.84 13.68 10.34 9.54 12.57 11.75 11.59 17.12 14.59 20.23 18.06 15.60 3.44 3.44 3.45 3.45 3.44 56.00 -1.7%
EMC CORP/MA 2.12 1.86 1.68 1.40 2.19 2.03 1.87 1.70 1.55 8.29 7.47 6.70 7.07 6.98 6.04 5.60 5.19 13.36 12.17 10.94 9.82 7.83 0.00 0.00 0.00 0.00 29.85 32.0%
EMERSON ELECTRIC CO 3.69 3.54 3.17 2.77 1.63 1.58 1.50 1.41 12.24 11.62 10.61 9.82 8.89 8.54 7.91 7.47 16.49 15.35 13.81 12.45 2.90 2.97 3.18 3.46 61.67 11.9%
EXELON CORP 1.43 1.36 1.33 1.27 1.58 1.31 1.23 1.24 1.24 1.09 6.10 6.46 6.60 6.47 6.80 8.00 7.98 8.16 7.82 7.57 12.90 14.83 15.94 15.43 14.29 5.68 4.04 3.58 3.55 4.52 34.63 -6.3%
EXXON MOBIL CORP 2.45 2.22 2.04 1.84 1.66 0.87 0.92 0.91 0.92 0.92 7.57 7.35 7.02 6.53 5.61 4.69 5.09 4.97 4.67 4.53 11.37 11.24 10.97 10.40 9.40 2.42 2.66 2.85 3.05 3.28 94.37 5.5%
FEDEX CORP 1.76 1.92 1.69 1.49 1.12 0.70 0.68 0.64 0.61 0.58 6.76 7.32 6.34 5.53 5.43 5.31 4.56 3.95 3.48 14.60 15.59 12.59 10.44 9.04 0.55 0.59 0.66 0.79 0.85 113.92 20.0%
FORD MOTOR CO 2.62 2.37 1.94 1.54 1.29 0.41 0.38 0.36 0.34 0.34 7.95 5.74 4.93 4.26 4.21 4.20 3.89 3.42 2.89 2.48 9.89 9.37 7.80 6.64 6.10 1.67 3.01 3.09 3.28 3.58 15.00 13.0%
FREEPORT-MCMORAN COPPER 1.55 1.33 1.17 1.09 1.55 1.28 1.19 1.14 1.15 6.07 4.40 3.62 3.68 4.64 3.51 3.00 2.98 2.52 9.32 7.95 6.94 7.36 5.15 4.17 4.23 4.31 4.33 4.23 38.33 29.8%
GENERAL DYNAMICS CORP 1.72 1.98 1.84 1.69 0.77 0.79 0.80 0.80 0.79 8.39 8.42 7.73 7.83 5.72 6.10 5.95 5.90 5.69 10.14 10.55 9.89 9.41 9.55 2.84 3.03 3.40 3.53 75.50 7.3%
GENERAL ELECTRIC CO 1.83 1.79 1.68 1.63 1.54 1.52 1.46 1.42 10.59 9.99 8.55 7.72 8.28 7.41 6.87 6.41 14.44 13.00 11.94 10.99 3.17 3.56 3.97 4.29 25.80 18.9%
GILEAD SCIENCES INC 7.70 6.22 4.93 3.73 8.23 7.28 6.03 4.84 4.05 24.44 23.41 14.29 8.70 17.95 17.78 12.64 9.21 10.82 25.85 24.81 17.23 11.80 8.97 0.00 0.00 0.00 0.00 60.59 17.3%
GOLDMAN SACHS GROUP INC 1.01 0.92 0.84 0.79 2.10 2.01 1.97 2.01 9.35 7.87 7.64 7.28 11.78 10.04 9.42 8.92 1.28 1.39 1.49 1.55 157.87 9.9%
GOOGLE INC-CL A 3.78 3.18 2.68 2.21 1.92 6.48 5.68 4.89 4.28 3.83 16.87 14.80 12.49 10.61 9.53 12.17 10.46 8.86 7.60 6.65 20.52 17.63 15.29 12.90 11.23 0.00 0.00 0.00 0.00 895.83 9.9%
HALLIBURTON CO 2.43 2.15 1.83 1.54 1.35 1.29 1.17 1.08 9.27 8.07 6.84 6.11 6.77 6.47 5.37 4.74 13.75 12.87 10.18 8.74 1.02 1.18 1.32 1.50 50.59 23.7%
Price to Earnings Ratio
Valuation Measures II/II
Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target

2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot
S&P 500 INDEX 2.21 2.21 2.02 1.84 2.21 1.42 1.42 1.36 1.30 1.42 9.87 9.87 9.26 9.54 9.87 8.83 8.83 8.15 7.63 8.83 14.28 14.28 12.81 11.63 14.28 2.19 2.19 2.35 2.54 2.19 1713.4 8.5%
Euro Stoxx 50 Pr 1.16 1.16 1.10 1.03 1.16 0.75 0.75 0.72 0.70 0.75 5.53 5.53 5.16 4.79 5.53 7.05 7.05 6.67 6.34 7.05 11.28 11.28 10.09 9.21 11.27 4.28 4.28 4.60 4.91 4.28 2912.8 8.9%
NIKKEI 225 1.57 1.57 1.47 1.42 1.57 0.74 0.74 0.72 0.71 0.74 9.10 9.10 8.47 8.23 9.10 8.77 8.77 8.17 7.84 8.77 20.95 20.95 16.44 14.59 20.95 1.49 1.49 1.72 1.87 1.49 12967.3 -6.3%
FTSE 100 INDEX 1.69 1.69 1.57 1.36 1.69 1.04 1.04 1.00 0.98 1.04 8.31 8.31 7.55 6.02 8.31 7.10 7.10 6.66 6.32 7.10 11.88 11.88 10.76 9.89 11.88 3.90 3.90 4.19 4.59 3.90 6894.5 7.5%
SWISS MARKET INDEX 2.37 2.37 2.23 2.03 2.37 2.01 2.01 1.90 1.82 2.01 12.26 12.26 11.26 10.01 12.26 13.22 13.22 12.23 11.44 13.22 14.89 14.89 13.33 12.11 14.89 3.29 3.29 3.66 4.17 3.29 8232.9 5.2%
S&P/TSX COMPOSITE INDEX 1.61 1.61 1.49 1.39 1.61 1.50 1.50 1.42 1.36 1.50 8.07 8.07 7.27 6.73 8.07 7.98 7.98 7.09 6.67 7.98 13.60 13.60 12.04 11.06 13.60 3.29 3.29 3.45 3.67 3.29 14426.1 19.3%
S&P/ASX 200 INDEX 1.93 1.93 1.83 1.73 1.93 1.86 1.86 1.75 1.66 1.86 11.50 11.50 10.23 9.33 11.50 9.59 9.59 8.47 7.83 9.59 15.61 15.61 13.94 12.80 15.61 4.27 4.27 4.58 4.94 4.27 5161.4 1.2%
HANG SENG INDEX 1.32 1.32 1.21 1.11 1.32 1.68 1.68 1.55 1.43 1.68 7.92 7.92 7.44 7.10 7.92 8.18 8.18 7.46 6.90 8.18 10.62 10.62 9.75 8.81 10.62 3.64 3.64 3.93 4.35 3.64 24850.7 12.0%
MSCI EM 1.41 1.41 1.28 1.19 1.41 0.98 0.98 0.91 0.87 0.98 6.87 6.87 6.34 5.99 6.87 7.18 7.18 6.56 6.23 7.18 10.60 10.60 9.52 8.91 10.60 3.15 3.15 3.61 3.52 3.15 1179.5 16.8%
HEWLETT-PACKARD CO 1.18 1.48 1.27 1.03 0.32 0.34 0.35 0.35 4.33 4.13 3.97 3.88 3.39 3.95 4.03 4.09 4.96 5.81 5.59 5.59 2.52 2.58 2.67 2.87 19.29 -3.7%
HJ HEINZ CO 6.83 7.44 6.70 5.93 1.99 2.00 1.93 1.84 1.77 17.46 15.89 14.42 13.53 13.50 13.16 12.39 11.69 11.23 21.70 20.25 19.01 17.87 16.27 2.65 2.85 3.02 3.19 70.67 -2.4%
HOME DEPOT INC 6.29 6.51 6.59 7.43 8.72 1.47 1.42 1.36 1.31 1.25 17.71 15.28 12.91 12.18 12.38 11.26 10.30 9.77 9.14 24.15 20.87 17.87 15.79 13.96 1.47 2.14 2.47 2.72 3.01 73.26 -0.6%
HONEYWELL INTERNATIONAL INC 4.40 3.82 3.22 2.70 1.57 1.50 1.42 1.36 1.26 15.09 12.63 11.53 10.59 9.65 8.92 8.18 7.74 16.69 15.11 13.53 12.35 11.21 2.02 2.20 2.45 2.64 80.91 8.1%
INTEL CORP 2.37 2.11 1.93 1.86 2.16 2.15 2.06 2.00 2.08 6.60 6.69 6.09 6.00 4.91 5.11 4.74 4.78 5.18 10.49 12.17 11.49 11.94 11.96 3.73 3.90 3.98 4.15 23.28 -0.1%
INTL BUSINESS MACHINES CORP 8.56 8.17 6.50 6.97 10.92 2.05 2.06 2.01 1.96 1.88 10.56 9.17 8.40 7.59 6.70 8.93 8.44 8.01 7.47 7.10 12.67 11.48 10.45 9.48 8.81 1.70 1.82 1.96 2.04 2.56 220.95 15.3%
JOHNSON & JOHNSON 3.63 3.22 2.87 2.63 2.40 3.53 3.35 3.22 3.11 2.98 13.84 12.38 11.47 10.95 10.53 10.91 10.17 9.53 9.00 8.39 16.69 15.71 14.72 13.82 12.95 2.76 2.98 3.18 3.40 3.79 87.35 2.8%
JPMORGAN CHASE & CO 0.95 0.87 0.81 0.76 1.86 1.84 1.79 1.72 9.78 8.48 8.02 7.21 9.73 8.59 8.14 7.71 2.46 2.99 3.33 3.72 55.95 15.6%
LOCKHEED MARTIN CORP 13.35 39.75 22.14 13.23 0.68 0.70 0.72 0.73 0.71 8.35 8.21 8.24 7.97 6.69 6.47 6.48 6.19 5.19 11.60 10.91 10.84 10.01 10.65 4.25 4.78 5.17 5.66 100.92 3.1%
LOWE'S COS INC 3.05 3.21 3.33 3.31 3.73 0.82 0.79 0.76 0.73 0.70 12.74 10.36 8.76 8.57 10.35 9.63 8.79 8.15 7.44 6.80 21.85 18.09 14.94 12.03 10.09 1.62 1.85 2.05 2.57 3.36 40.27 6.4%
MASTERCARD INC-CLASS A 9.06 7.70 5.98 5.20 8.84 7.90 7.04 6.21 5.66 23.30 19.22 15.61 14.49 14.48 12.51 10.85 9.51 8.78 24.24 20.96 17.69 14.99 0.20 0.30 0.31 0.43 579.32 8.7%
MCDONALD'S CORP 7.19 6.32 5.94 5.17 3.32 3.67 3.53 3.34 3.14 2.92 14.71 13.60 12.48 11.45 11.27 10.78 10.12 9.39 8.69 18.93 17.60 16.06 14.48 13.01 2.85 3.13 3.43 3.75 107.00 6.4%
MEDTRONIC INC 2.70 2.56 2.26 2.00 1.89 2.89 2.85 2.77 2.69 2.60 10.73 10.33 9.90 9.25 9.15 9.24 9.30 9.02 8.66 8.49 13.49 12.58 12.05 11.32 10.61 2.12 2.27 2.45 2.68 2.97 50.93 9.6%
MERCK & CO. INC. 2.60 2.55 2.36 2.19 3.12 3.19 3.13 3.07 2.99 10.32 10.51 10.13 8.64 7.61 8.33 8.09 7.80 6.86 12.78 13.38 12.70 12.05 11.08 3.46 3.52 3.60 3.69 4.31 51.50 6.0%
METLIFE INC 0.71 0.68 0.62 0.56 0.61 0.59 0.57 0.55 7.27 7.17 6.70 6.21 2.05 2.54 2.99 3.27 45.00 18.8%
MICROSOFT CORP 3.70 3.25 2.65 2.31 3.50 3.28 3.04 2.87 2.91 9.22 8.53 7.62 7.13 6.42 6.16 5.57 5.22 5.38 11.52 11.15 10.03 9.25 2.50 2.92 3.13 3.39 32.62 5.5%
MONDELEZ INTERNATIONAL INC-A 1.70 1.67 1.57 1.53 1.61 1.55 1.46 1.37 1.31 120.68 16.28 13.13 11.20 12.76 12.13 11.27 10.38 9.69 22.18 20.29 18.05 15.98 13.95 1.63 1.67 1.85 2.18 2.17 30.74 -3.2%
MONSANTO CO 4.64 4.19 3.69 3.21 4.05 3.66 3.43 3.22 3.19 21.04 18.89 16.15 14.35 14.22 12.30 10.96 9.93 9.77 27.93 22.52 19.56 17.29 16.16 1.10 1.43 1.52 1.56 116.82 12.5%
MORGAN STANLEY 0.70 0.67 0.63 0.60 1.54 1.33 1.24 1.19 34.82 10.85 8.12 6.84 15.93 10.56 8.49 7.71 0.95 0.98 1.26 1.48 24.95 15.5%
NATIONAL OILWELL VARCO INC 1.42 1.27 1.14 1.01 0.94 1.46 1.26 1.17 1.10 1.09 11.81 9.26 8.01 7.79 8.30 6.68 6.34 5.66 5.10 6.08 11.48 11.28 9.81 8.86 8.96 0.70 0.76 0.79 0.85 0.74 85.56 27.4%
NEWS CORP-CL A 2.82 2.70 2.51 2.27 1.93 2.15 2.05 1.93 1.84 1.75 17.58 12.03 12.93 11.18 10.75 12.37 11.48 10.27 9.32 8.60 22.36 18.76 16.04 13.47 11.50 0.54 0.57 0.59 0.62 33.41 6.4%
NIKE INC -CL B 5.55 4.40 4.09 3.61 5.13 2.28 2.18 2.01 1.87 1.75 24.34 21.34 18.18 15.34 14.72 13.93 12.35 11.06 10.43 25.00 23.08 20.18 17.48 15.59 1.13 1.30 1.46 1.61 62.86 1.9%
NORFOLK SOUTHERN CORP 2.38 2.26 2.05 1.87 2.14 2.09 1.96 1.87 1.75 8.04 7.72 7.05 6.98 7.69 7.54 6.88 6.44 5.98 14.20 13.39 11.73 10.42 9.46 2.52 2.74 2.93 3.15 83.05 11.0%
OCCIDENTAL PETROLEUM CORP 1.63 1.50 1.37 1.28 2.82 2.55 2.52 2.57 5.94 5.48 5.12 4.58 5.17 4.59 4.26 4.33 11.96 11.71 10.98 10.51 2.65 2.95 3.33 3.52 100.33 21.0%
ORACLE CORP 3.68 3.37 2.74 2.32 4.13 4.09 3.88 3.68 3.40 12.23 10.79 10.21 9.38 7.56 7.67 7.00 6.49 13.44 12.10 11.10 10.13 0.74 0.91 0.80 0.90 37.69 15.9%
PEPSICO INC 6.05 5.52 5.37 5.27 1.98 1.91 1.82 1.73 1.64 15.26 13.34 12.64 11.13 8.96 12.34 11.71 11.03 10.34 9.43 20.56 18.89 17.47 15.99 14.13 2.54 2.70 2.90 3.11 3.37 86.09 3.0%
PFIZER INC 2.84 2.72 2.67 2.51 3.80 3.88 3.93 3.93 3.87 12.10 10.97 9.95 9.31 9.96 7.78 8.25 8.22 8.46 9.01 14.26 13.59 12.90 12.43 11.79 2.84 3.08 3.25 3.38 3.73 31.20 1.1%
PHILIP MORRIS INTERNATIONAL 4.92 4.80 4.56 4.36 4.05 15.45 13.97 12.77 12.18 11.94 11.53 10.77 10.10 9.58 18.11 16.77 15.03 13.59 12.61 3.47 3.81 4.23 4.68 5.15 97.47 3.3%
PROCTER & GAMBLE CO/THE 3.35 3.35 3.26 3.04 2.54 2.52 2.43 2.33 2.21 16.97 15.49 13.86 12.85 12.91 12.47 11.70 10.96 10.13 20.43 19.20 17.83 16.36 14.81 2.71 2.92 3.15 3.36 3.74 80.70 3.6%
QUALCOMM INC 3.45 3.01 2.12 2.34 6.02 4.71 4.23 3.99 16.62 13.55 12.76 12.49 11.66 8.86 8.01 7.25 18.21 14.60 13.43 12.74 1.35 1.54 1.75 2.12 76.25 15.1%
RAYTHEON COMPANY 2.21 2.56 2.39 1.92 0.77 0.79 0.81 0.82 0.75 10.57 9.80 10.03 7.91 5.84 6.32 6.27 5.63 10.42 10.88 10.46 8.58 9.46 3.40 3.77 4.15 4.43 56.75 -1.8%
SCHLUMBERGER LTD 2.74 2.54 2.19 1.86 2.29 2.12 1.90 1.73 12.07 10.40 8.78 8.42 9.15 8.34 7.28 6.36 17.37 15.57 12.80 11.00 1.51 1.68 1.77 1.87 90.04 23.8%
SIMON PROPERTY GROUP INC 8.95 9.59 10.00 10.32 11.34 10.54 10.02 9.94 26.17 24.38 21.46 18.87 21.74 19.76 18.63 16.68 41.62 50.11 43.00 24.93 2.36 2.69 2.92 3.23 3.58 177.00 0.7%
SOUTHERN CO/THE 2.18 2.11 2.03 1.94 2.39 2.35 2.27 2.19 1.94 9.29 9.40 9.03 8.63 10.51 10.00 9.48 8.95 8.07 18.27 17.36 16.57 15.76 15.20 4.07 4.22 4.36 4.52 4.70 46.82 -2.3%
STARBUCKS CORP 8.36 7.77 6.89 5.65 3.91 3.34 2.98 2.66 2.38 2.09 23.53 19.12 16.60 14.12 16.65 14.01 11.86 10.21 9.28 33.39 27.38 22.64 18.93 16.49 1.17 1.44 1.71 2.07 65.54 10.4%
TARGET CORP 2.76 2.61 2.42 2.24 1.96 0.61 0.59 0.56 0.53 0.50 8.66 5.86 7.09 6.60 5.67 8.26 8.40 7.58 7.16 6.64 14.61 14.22 12.67 10.96 9.56 1.89 2.21 2.33 2.95 72.27 3.8%
TEXAS INSTRUMENTS INC 3.64 3.53 3.39 3.25 3.08 3.22 3.06 2.93 2.75 13.75 12.34 10.68 10.39 11.78 11.01 9.51 9.10 9.14 21.54 19.73 16.05 14.58 15.44 2.00 2.84 3.04 3.14 35.04 -1.3%
TIME WARNER INC 1.82 1.81 1.66 1.49 1.61 1.95 1.89 1.81 1.74 1.65 13.51 11.83 11.08 9.81 10.62 9.80 9.06 8.48 7.90 18.78 16.37 14.11 12.36 10.57 1.73 1.89 2.03 2.13 2.54 61.75 2.5%
UNION PACIFIC CORP 3.48 3.17 2.84 2.54 3.26 3.07 2.86 2.71 2.60 11.52 10.08 9.20 8.70 8.94 8.16 7.42 6.86 6.42 17.78 15.40 13.47 12.03 10.91 1.67 1.92 2.13 2.37 156.75 7.0%
UNITED PARCEL SERVICE-CL B 10.29 13.49 11.65 11.00 4.27 1.46 1.39 1.31 1.23 1.14 12.58 11.18 9.46 9.42 9.43 8.85 8.10 7.46 6.16 18.17 16.71 14.62 13.00 11.01 2.72 2.96 3.21 3.46 3.90 91.91 10.3%
UNITED TECHNOLOGIES CORP 3.30 2.94 2.64 2.32 1.45 1.30 1.23 1.19 1.07 12.99 11.78 10.09 9.14 11.21 9.58 8.76 8.35 17.25 15.04 13.16 11.75 10.49 2.19 2.39 2.59 2.82 102.84 12.0%
UNITEDHEALTH GROUP INC 2.03 1.77 1.59 1.44 0.55 0.49 0.45 0.41 9.96 8.72 7.87 7.84 6.70 6.35 5.92 5.87 5.67 11.20 10.85 10.11 9.04 7.49 1.28 1.49 1.56 1.63 69.33 17.3%
US BANCORP 1.77 1.62 1.51 1.38 3.02 3.06 2.97 2.82 10.98 10.47 9.82 8.78 11.47 10.79 10.11 9.24 8.64 2.36 2.70 2.99 3.46 37.12 13.1%
VERIZON COMMUNICATIONS INC 3.67 4.10 3.72 3.65 1.27 1.22 1.17 1.14 1.10 4.79 4.09 3.91 3.67 6.53 5.95 5.57 5.30 5.10 21.64 18.35 15.98 14.44 13.50 3.93 4.05 4.15 4.30 4.30 53.71 4.7%
VISA INC-CLASS A SHARES 3.94 3.73 3.24 2.98 10.64 9.52 8.55 7.59 6.86 23.74 22.29 16.81 16.26 18.04 14.00 12.37 10.75 9.96 27.16 22.77 19.64 17.08 14.96 0.52 0.75 0.84 0.89 174.54 4.4%
WAL-MART STORES INC 3.44 3.15 2.90 2.53 2.21 0.56 0.53 0.51 0.47 0.46 10.13 9.35 8.76 7.86 6.79 8.56 8.29 7.83 7.50 7.57 16.12 14.82 13.48 12.19 10.93 2.03 2.36 2.58 2.95 78.21 -1.3%
WALGREEN CO 2.64 2.34 2.15 2.04 0.65 0.64 0.61 0.59 0.48 11.86 13.11 12.18 9.38 10.45 9.05 8.21 7.76 5.22 18.97 15.02 13.22 12.24 10.32 1.91 2.20 2.42 2.81 48.94 -0.2%
WALT DISNEY CO/THE 2.75 2.64 2.47 2.24 2.39 2.64 2.49 2.34 2.18 2.08 14.22 12.61 11.36 10.13 9.21 11.51 10.51 9.62 8.86 8.42 20.20 18.04 15.99 13.98 12.54 0.96 1.10 1.23 1.27 1.69 62.72 0.9%
WELLS FARGO & CO 1.37 1.25 1.16 1.08 2.30 2.32 2.28 2.22 10.43 9.63 9.17 7.97 11.15 10.03 9.50 8.97 8.55 2.36 3.04 3.38 3.78 40.71 9.4%
WILLIAMS COS INC 5.03 4.02 4.35 3.52 3.44 3.21 2.83 2.80 14.67 15.19 11.50 11.51 15.32 14.16 11.11 10.59 10.44 34.35 39.39 27.53 25.63 22.88 3.20 3.80 4.59 5.40 5.34 39.20 2.6%
Price to Earnings Ratio
Valuation Measures II/II
Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target

24.04.2013
3M Co. conducts operations in electronics, telecommunications, industrial,
consumer and office, health care, safety, and other markets. The Company's
businesses share technologies, manufacturing operations, brands, marketing
channels, and other resources. 3M serves customers in countries located around
the world.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (11.04.2013) 108.71
52-Week Low (04.06.2012) 81.99
Daily Volume
107.53
52-Week High % Change -1.02% Dividend Yield 2.19
52-Week Low % Change 31.15% Beta 0.98
% 52 Week Price Range High/Low 95.06% Equity Float 689.13
Shares Out 31.01.2013 690.0 Short Int 9.93
74'194.65 1 Yr Total Return 24.72%
Total Debt 6'001.00 YTD Return 16.53%
Preferred Stock 0.0 Adjusted BETA 0.979
Minority Interest 465.0 Analyst Recs 21
Cash and Equivalents 5'693.00 Consensus Rating 3.857
Enterprise Value 74'967.65
Average Volume 5 Day 758'628
MMM UN EQUITY YTD Change - Average Volume 30 Day 755'019
MMM UN EQUITY YTD % CHANGE - Average Volume 3 Month 775'414
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
25'269.0 23'123.0 26'662.0 29'611.0 29'904.0 29'611 29'904 31'475 33'193 7'808 7'957
1.76x 2.61x 2.33x 1.95x 2.16x 8.30x 8.52x 2.44x 2.28x 9.95x 9.72x
6'394.0 5'971.0 7'038.0 7'414.0 7'771.0 7'414.0 7'771.0 8'249.4 8'866.4 1'978.3 2'112.3
6.96x 10.11x 8.84x 7.80x 8.31x 7.80x 8.31x 9.10x 8.47x 9.04x -
3'460.0 3'193.0 4'085.0 4'283.0 4'444.0 4'283.0 4'444.0 4'749.2 5'156.8 1'151.0 1'238.4
11.13x 17.63x 15.01x 13.71x 14.69x 13.71x 14.62x 15.75x 14.43x 15.75x -
EBITDA 7'771.00 Long-Term Rating Date 18.03.2009
EBIT 6'483.00 Long-Term Rating AA-
Operating Margin 21.68% Long-Term Outlook STABLE
Pretax Margin 21.24% Short-Term Rating Date 23.11.1981
Return on Assets 13.57% Short-Term Rating A-1+
Return on Common Equity 26.94%
Return on Capital 20.56% EBITDA/Interest Exp. 40.06
Asset Turnover 0.91% (EBITDA-Capex)/Interest Exp. 32.41
Net Debt/EBITDA 0.04
Gross Margin 47.5% Total Debt/EBITDA 0.77
EBITDA Margin 26.0%
EBIT Margin 21.7% Total Debt/Equity 34.1%
Net Income Margin 14.9% Total Debt/Capital 25.0%
Asset Turnover 0.91
Current Ratio 2.20 Net Fixed Asset Turnover 3.73
Quick Ratio 1.39 Accounts receivable turnover-days 48.52
Debt to Assets 17.71% Inventory Days 84.62
Tot Debt to Common Equity 34.15% Accounts Payable Turnover Day 38.69
Accounts Receivable Turnover 7.54 Cash Conversion Cycle 94.45
Inventory Turnover 4.33
Fiscal Year Ended
3M Co
Price/Volume
Valuation Analysis
107'411.00
Current Price (4/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
0
20
40
60
80
100
120
a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
1.0 M
2.0 M
3.0 M
4.0 M
5.0 M
6.0 M
7.0 M
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
16.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013
Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow

24.04.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
STATE STREET n/a ULT-AGG 67'669'888 9.81 (176'403) 23.04.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 41'038'740 5.95 - 22.04.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 34'962'057 5.07 588'236 31.03.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 19'002'823 2.75 (974'867) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 13'771'070 2 (184'132) 31.12.2012 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 11'131'700 1.61 33'100 31.12.2012 Insurance Company
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 9'940'996 1.44 (35'455) 31.12.2012 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 8'915'016 1.29 2'510'797 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 7'874'449 1.14 (174'878) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 7'768'462 1.13 192'599 31.03.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 7'380'783 1.07 87'111 31.12.2012 Investment Advisor
FIDUCIARY MANAGEMENT FIDUCIARY MANAGEMENT 13F 7'094'958 1.03 37'123 31.12.2012 Investment Advisor
US BANCORP US BANCORP 13F 6'955'267 1.01 (408'394) 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 6'497'326 0.94 721'198 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 6'497'093 0.94 1'596'070 28.02.2013 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 5'714'251 0.83 60'000 31.12.2012 Hedge Fund Manager
NORGES BANK NORGES BANK 13F 5'326'652 0.77 169'424 31.12.2012 Government
UBS n/a ULT-AGG 4'327'360 0.63 (247'022) 28.02.2013 Unclassified
GEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 4'233'480 0.61 (400'148) 31.12.2012 Investment Advisor
LONGVIEW PARTNERS (G LONGVIEW PARTNERS (G 13F 4'076'180 0.59 205'112 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Barclays SCOTT R DAVIS equalweight 3 M 104 Not Provided 15.04.2013
FBR Capital Markets AJAY K KEJRIWAL outperform 5 M 110 12 month 12.04.2013
Sanford C. Bernstein & Co STEVEN E WINOKER market perform 3 M 116 12 month 10.04.2013
Edward Jones MATT ARNOLD buy 5 M #N/A N/A Not Provided 09.04.2013
Goldman Sachs JOSEPH RITCHIE neutral/neutral 3 N 115 12 month 20.03.2013
Morgan Stanley NIGEL COE Overwt/In-Line 5 M 113 12 month 17.03.2013
William Blair & Co JOHN C KREGER market perform 3 M 101 12 month 17.03.2013
Tigress Financial Partners IVAN FEINSETH buy 5 N #N/A N/A Not Provided 06.03.2013
Argus Research Corp NATHANIEL GABRIEL hold 3 M #N/A N/A Not Provided 13.02.2013
S&P Capital IQ RICHARD TORTORIELLO buy 5 M 110 12 month 06.02.2013
JPMorgan CHARLES STEPHEN TUSA underweight 1 M 97 6 month 28.01.2013
Deutsche Bank DAVID I BEGLEITER hold 3 M 108 12 month 25.01.2013
Jefferies LAURENCE ALEXANDER buy 5 M 115 12 month 25.01.2013
Nomura SHANNON O'CALLAGHAN neutral 3 M 105 12 month 25.01.2013
Credit Suisse JOHN P MCNULTY neutral 3 M 103 Not Provided 24.01.2013
Hilliard Lyons STEPHEN A O'NEIL long-term buy 5 M 125 12 month 24.01.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 15.01.2013
Langenberg & Co BRIAN KEITH LANGENBERG hold 3 M 100 Not Provided 23.10.2012
McAdams Wright Ragen Inc MICHAEL ROARKE focus list 5 N 85 Not Provided 24.04.2009
Holdings By:
3M Co
All

24.04.2013
Abbott Laboratories discovers, develops, manufactures, and sells a broad and
diversified line of health care products and services. The Company's products
include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott
markets its products worldwide through affiliates and distributors.
LTM as of: 03/yy
52-Week High (11.04.2013) 37.55
52-Week Low (05.06.2012) 28.46
Daily Volume
37.14
% 52 Week Price Range High/Low 96.26% Equity Float 1'565.57
Shares Out 31.01.2013 1'570.7 Short Int 12.73
58'334.95 1 Yr Total Return 30.80%
Average Volume 5 Day 1'751'185
ABT UN EQUITY YTD Change - Average Volume 30 Day 2'078'594
ABT UN EQUITY YTD % CHANGE - Average Volume 3 Month 2'356'649
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
29'527.6 30'764.7 35'166.7 38'851.3 39'873.9 39'266.6 35'795.3 22'471.6 23'812.7 5'535.0 5'575.9
3.02x 2.94x 2.49x 2.46x 2.73x 9.66x 9.31x 2.44x 2.21x 10.52x 10.45x
8'315.9 9'212.3 9'025.1 9'468.3 11'155.7 10'062.0 9'165.4 5'193.0 5'623.7 936.7 1'115.7
10.73x 9.80x 9.71x 10.11x 9.74x 10.30x 0.00x 12.28x 11.34x 15.50x 15.28x
4'880.7 5'745.8 4'626.2 4'728.4 5'962.9 5'107.1 5'264.4 3'200.7 3'432.8 636.4 802.7
16.08x 14.51x 11.49x 12.07x 12.92x 12.61x 8.10x 18.61x 16.43x 17.82x 17.12x
EBIT 8'372.52 Long-Term Rating A+
Return on Assets 9.35% Short-Term Rating A-1+
EBITDA Margin 29.9%
Asset Turnover 0.63
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Abbott Laboratories
Price/Volume
Valuation Analysis
191'287.00
0
5
10
15
20
25
30
35
40
a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
2.0 M
4.0 M
6.0 M
8.0 M
10.0 M
12.0 M
14.0 M
16.0 M
18.0 M
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
45'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013

24.04.2013
BLACKROCK n/a ULT-AGG 97'567'010 6.21 11'496'654 22.04.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 91'806'643 5.85 20'933'465 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 89'716'018 5.71 2'523'195 23.04.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 75'358'478 4.8 (2'293'700) 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 29'915'736 1.9 (956'473) 31.03.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 17'459'656 1.11 (2'094'242) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 16'605'095 1.06 (2'827'969) 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 15'524'333 0.99 (1'864'127) 28.02.2013 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 15'061'000 0.96 - 31.12.2012 Insurance Company
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 14'592'726 0.93 156'217 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 14'404'871 0.92 (338'480) 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 13'409'746 0.85 (1'857'915) 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 12'625'176 0.8 1'276'928 31.12.2012 Government
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 11'768'897 0.75 261'139 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 8'699'080 0.55 (390'744) 31.01.2013 Investment Advisor
MONTAG & CALDWELL IN MONTAG & CALDWELL IN 13F 8'264'745 0.53 (175'391) 31.12.2012 Investment Advisor
Morgan Stanley DAVID R LEWIS Equalwt/In-Line 3 M #N/A N/A Not Provided 24.04.2013
Argus Research Corp DAVID H TOUNG hold 3 M #N/A N/A Not Provided 22.04.2013
RBC Capital Markets GLENN J NOVARRO outperform 5 M 38 12 month 19.04.2013
Credit Suisse BRUCE NUDELL neutral 3 M 40 Not Provided 19.04.2013
Jefferies JEFFREY HOLFORD buy 5 M 43 12 month 19.04.2013
Wells Fargo Securities, LLC LAWRENCE BIEGELSEN outperform 5 M #N/A N/A Not Provided 19.04.2013
Deutsche Bank KRISTEN M STEWART hold 3 M 35 12 month 18.04.2013
William Blair & Co BENJAMIN C ANDREW outperform 5 M #N/A N/A Not Provided 18.04.2013
Raymond James JAYSON BEDFORD market perform 3 M #N/A N/A Not Provided 18.04.2013
Atlantic Equities LLP STEPHAN B GASTEYGER neutral 3 M 36 12 month 18.04.2013
Barclays MATTHEW TAYLOR equalweight 3 M 35 Not Provided 18.04.2013
BMO Capital Markets JOANNE K WUENSCH outperform 5 M 40 Not Provided 17.04.2013
Goldman Sachs DAVID H ROMAN neutral/neutral 3 M 38 12 month 17.04.2013
Edward Jones JEFF WINDAU buy 5 M #N/A N/A Not Provided 17.04.2013
Hilliard Lyons STEPHEN A O'NEIL long-term buy 5 M 40 12 month 17.04.2013
JPMorgan MICHAEL N WEINSTEIN neutral 3 M 36 6 month 17.04.2013
Sanford C. Bernstein & Co DERRICK SUNG market perform 3 M 31 12 month 17.04.2013
Leerink Swann & Co DANIELLE ANTALFFY market perform 3 M #N/A N/A Not Provided 17.04.2013
Stifel FREDERICK A WISE buy 5 M 44 12 month 17.04.2013
Cowen and Company DOUG SCHENKEL neutral 3 M #N/A N/A Not Provided 11.04.2013
S&P Capital IQ HERMAN SAFTLAS buy 5 M 36 Not Provided 29.11.2012
First Global Stockbroking KAVITA THOMAS long-term outperform 5 M #N/A N/A Not Provided 26.04.2012
Maxim Group LLC ANTHONY PETRONE not rated #N/A N/A M #N/A N/A Not Provided 27.01.2009
Holdings By:
Abbott Laboratories
All

24.04.2013
AbbVie Inc. researches and develops pharmaceutical products. The Company
produces pharmaceutical drugs for specialty therapeutic areas such as
immunology, chronic kidney disease, Hepatitis C, women's health, oncology, and
neuroscience. AbbVie also offers treatments for diseases including Multiple
Sclerosis, Parkinson's, and Alzheimer's disease.
LTM as of: 01/yy
52-Week High (23.04.2013) 46.32
52-Week Low (17.12.2012) 32.51
Daily Volume
44.87
52-Week High % Change -3.35% Dividend Yield -
52-Week Low % Change 38.02% Beta -
71'028.58 1 Yr Total Return -
Preferred Stock 0.0 Adjusted BETA -
ABBV UN EQUITY YTD Change - Average Volume 30 Day 1'489'681
ABBV UN EQUITY YTD % CHANGE - Average Volume 3 Month 1'538'684
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
- 14'214.2 15'637.7 17'444.0 18'380.0 - - 18'439.9 18'884.4 4'301.0 4'580.1
- - - - 3.47x - - 4.31x 4.15x - -
- 5'799.3 6'214.3 5'565.4 7'255.0 - - 7'383.4 7'478.1 1'607.3 1'866.3
- - - - 8.80x - - 11.01x 10.87x 11.02x 10.81x
- 4'636.5 4'177.9 3'433.1 5'275.0 - - 4'941.1 5'091.1 1'049.3 1'240.2
- - - - 9.84x - - 14.40x 13.94x 14.40x 14.25x
EBIT 6'105.00 Long-Term Rating A
Operating Margin 33.22% Long-Term Outlook POS
Return on Assets - Short-Term Rating A-1
Return on Common Equity -
Return on Capital - EBITDA/Interest Exp. 86.37
Asset Turnover - (EBITDA-Capex)/Interest Exp. 82.40
Net Debt/EBITDA -
Gross Margin 75.5% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 532.6%
Asset Turnover -
Current Ratio 2.27 Net Fixed Asset Turnover -
Quick Ratio 1.71 Accounts receivable turnover-days -
Debt to Assets 66.32% Inventory Days -
Tot Debt to Common Equity 532.59% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -260.37
Inventory Turnover -
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
AbbVie Inc
Price/Volume
Valuation Analysis
217'896.00
0
5
10
15
20
25
30
35
40
45
50
d-12 j-13 f-13 m-13 a-13
.0 M
2.0 M
4.0 M
6.0 M
8.0 M
10.0 M
12.0 M
0.0
2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
16'000.0
18'000.0
20'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20120.00
0.20
0.40
0.60
0.80
1.00
1.20

24.04.2013
STATE STREET n/a ULT-AGG 28'549'375 1.8 225'099 23.04.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 24'679'333 1.56 24'679'333 31.03.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 13'766'889 0.87 13'762'679 28.02.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 9'133'059 0.58 9'133'059 31.12.2012 Investment Advisor
FEDERATED INVESTORS FEDERATED INVESTORS 13F 8'339'139 0.53 8'339'139 31.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 8'324'029 0.53 8'324'029 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 6'732'382 0.43 6'732'382 31.03.2013 Investment Advisor
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 4'906'295 0.31 4'906'295 31.03.2013 Investment Advisor
APG ALL PENSIONS GRO APG ALL PENSIONS GRO 13F 4'618'953 0.29 4'618'953 31.03.2013 Investment Advisor
EATON VANCE MANAGEME Multiple Portfolios MF-AGG 4'604'731 0.29 1'649'590 28.02.2013 Investment Advisor
NORDEA INV MANAGEMEN NORDEA INVESTMENT MA 13F 4'085'419 0.26 4'085'419 31.03.2013 Investment Advisor
PRINCIPAL FINANCIAL n/a ULT-AGG 4'080'714 0.26 (121'330) 31.03.2013 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 3'659'946 0.23 3'659'946 31.03.2013 Investment Advisor
US BANCORP US BANCORP 13F 3'236'292 0.2 3'236'292 31.03.2013 Investment Advisor
HEALTHCOR MANAGEMENT HEALTHCOR MANAGEMENT 13F 3'100'000 0.2 3'100'000 31.12.2012 Hedge Fund Manager
CHARLES SCHWAB INVES Multiple Portfolios MF-AGG 2'976'910 0.19 2'557'837 23.04.2013 Investment Advisor
BANK OF AMERICA CORP Multiple Portfolios MF-AGG 2'640'125 0.17 (442'457) 28.02.2013 Investment Advisor
BMO Capital Markets ALEX ARFAEI market perform 3 M 43 Not Provided 23.04.2013
Wells Fargo Securities, LLC MICHAEL K TONG outperform 5 M #N/A N/A Not Provided 23.04.2013
Morgan Stanley DAVID R RISINGER Overwt/In-Line 5 U 49 12 month 22.04.2013
JPMorgan CHRISTOPHER T SCHOTT neutral 3 M 38 6 month 18.04.2013
Barclays CHARLES ANTHONY BUTLER equalweight 3 M 41 Not Provided 15.04.2013
Jefferies JEFFREY HOLFORD buy 5 M 50 12 month 10.04.2013
Goldman Sachs JAMI E RUBIN buy/attractive 5 M 45 12 month 09.04.2013
Edward Jones JUDSON CLARK hold 3 M #N/A N/A Not Provided 27.03.2013
Credit Suisse CATHERINE J ARNOLD neutral 3 N 37 Not Provided 07.02.2013
Hilliard Lyons STEPHEN A O'NEIL neutral 3 M #N/A N/A Not Provided 30.01.2013
Atlantic Equities LLP RICHARD J PURKISS neutral 3 M 37 12 month 17.01.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013
Holdings By:
AbbVie Inc
All

24.04.2013
Accenture PLC provides management and technology consulting services and
solutions. The Company delivers a range of specialized capabilities and
solutions to clients across all industries on a worldwide basis. Accenture's
network of businesses provides consulting, technology, outsourcing, and
alliances.
LTM as of: 02/yy
52-Week High (08.03.2013) 78.46
52-Week Low (01.06.2012) 54.94
Daily Volume
77.16
53'514.06 1 Yr Total Return 25.56%
Total Debt 0.03 YTD Return 17.25%
ACN UN EQUITY YTD Change - Average Volume 30 Day 810'314
ACN UN EQUITY YTD % CHANGE - Average Volume 3 Month 786'771
31.08.2008 31.08.2009 31.08.2010 31.08.2011 31.08.2012 02/yy 02/yy 08/13 Y 08/14 Y 05/13 Q3 08/13 Q4
25'313.8 23'171.0 23'094.1 27'352.9 29'778.0 29'227.4 30'090.4 29'058.4 30'925.7 7'432.8 7'354.6
1.08x 0.85x 0.90x 1.19x 1.19x 4.74x 5.19x 1.61x 1.46x 6.49x 6.46x
3'525.9 3'391.7 3'399.1 3'985.2 4'466.8 4'295.8 4'603.0 4'840.7 5'055.4 1'295.6 1'224.9
7.76x 5.79x 6.14x 8.16x 7.95x 8.41x 9.89x 9.96x 9.53x 9.65x 9.50x
1'691.8 1'590.0 1'780.7 2'277.7 2'553.5 2'526.0 3'068.1 3'055.2 3'194.2 790.6 743.7
15.55x 12.36x 13.71x 15.76x 16.04x 15.79x 17.25x 17.94x 16.52x 17.35x 16.92x
EBIT 3'873.24 Long-Term Rating A+
Pretax Margin 13.11% Short-Term Rating Date -
Return on Assets 19.08% Short-Term Rating -
Net Debt/EBITDA -1.22
EBITDA Margin 15.3%
Asset Turnover 1.87
Fiscal Year Ended
Accenture PLC
Price/Volume
Valuation Analysis
162'731.00
Net Income
P/E
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Credit Ratios
Margin Analysis
Reference
Structure
0
10
20
30
40
50
60
70
80
90
a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
.5 M
1.0 M
1.5 M
2.0 M
2.5 M
3.0 M
3.5 M
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
16.00
04.09.2009 04.03.2010 04.09.2010 04.03.2011 04.09.2011 04.03.2012 04.09.2012 04.03.2013

24.04.2013
SUN LIFE FINANCIAL I n/a ULT-AGG 41'454'159 6.38 3'033'970 28.02.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 31'192'429 4.8 766'395 22.04.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 19'497'911 3 (259'970) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 16'985'346 2.61 (301'242) 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 16'389'070 2.52 (2'143'379) 31.12.2012 Investment Advisor
THORNBURG INVESTMENT THORNBURG INVESTMENT 13F 11'742'375 1.81 3'797'405 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 10'487'978 1.61 307'876 31.12.2012 Investment Advisor
FIDUCIARY MANAGEMENT FIDUCIARY MANAGEMENT 13F 7'831'119 1.2 516'205 31.12.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 7'454'100 1.15 (978'608) 31.12.2012 Investment Advisor
LANSDOWNE PARTNERS L LANSDOWNE PARTNERS L 13F 7'325'230 1.13 643'228 31.12.2012 Hedge Fund Manager
CALAMOS ADVISORS LLC CALAMOS ADVISORS LLC 13F 6'456'713 0.99 1'151'240 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 6'365'635 0.98 217'950 31.12.2012 Investment Advisor
BROWN ADVISORY INC n/a ULT-AGG 6'257'039 0.96 (389'821) 31.12.2012 Investment Advisor
LONGVIEW PARTNERS (G LONGVIEW PARTNERS (G 13F 6'213'974 0.96 268'050 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 6'107'559 0.94 712'564 28.02.2013 Investment Advisor
Wells Fargo Securities, LLC EDWARD S CASO JR outperform 5 M #N/A N/A Not Provided 23.04.2013
Janney Montgomery Scott LLC JOSEPH D FORESI buy 5 M 84 12 month 19.04.2013
Sanford C. Bernstein & Co RODERICK BOURGEOIS outperform 5 M 79 12 month 19.04.2013
Cowen and Company MOSHE KATRI outperform 5 M #N/A N/A Not Provided 19.04.2013
Deutsche Bank BRYAN KEANE buy 5 M 87 12 month 18.04.2013
JPMorgan TIEN-TSIN HUANG overweight 5 M 80 6 month 18.04.2013
Atlantic Equities LLP CHRISTOPHER HICKEY overweight 5 M 85 12 month 12.04.2013
Stifel DAVID M GROSSMAN buy 5 M 80 12 month 08.04.2013
Societe Generale RICHARD NGUYEN hold 3 M 74 12 month 02.04.2013
Argus Research Corp JAMES KELLEHER buy 5 M 86 12 month 02.04.2013
Evercore Partners DAVID M TOGUT overweight 5 M 86 12 month 02.04.2013
Berenberg Bank DAUD KHAN hold 3 M 69 Not Provided 02.04.2013
Edward Jones JOSH OLSON hold 3 M #N/A N/A Not Provided 01.04.2013
BB&T Capital Markets GEORGE A PRICE hold 3 M #N/A N/A Not Provided 01.04.2013
Credit Agricole Securities (USA) NIMISH JOSHI outperform 5 M 82 12 month 01.04.2013
Barclays DARRIN D PELLER equalweight 3 M 74 Not Provided 01.04.2013
BMO Capital Markets KEITH F BACHMAN market perform 3 M 74 Not Provided 31.03.2013
Morgan Stanley KATHRYN HUBERTY Overwt/In-Line 5 M 77 12 month 28.03.2013
Credit Suisse GEORGE MIHALOS neutral 3 M 74 Not Provided 28.03.2013
Jefferies JASON KUPFERBERG hold 3 M 73 12 month 28.03.2013
Robert W. Baird & Co DAVID J KONING neutral 3 M 78 12 month 28.03.2013
Raymond James BRIAN GESUALE outperform 5 M 83 12 month 28.03.2013
BNP Paribas Equity Research ARVIND RAMNANI hold 3 M 73 12 month 28.03.2013
Susquehanna Financial Group JAMES E FRIEDMAN Positive 4 M 88 12 month 28.03.2013
S&P Capital IQ DYLAN CATHERS buy 5 M 79 12 month 27.02.2013
EVA Dimensions ANDREW S ZAMFOTIS buy 5 M #N/A N/A Not Provided 15.01.2013
Goldman Sachs JULIO C QUINTEROS JR neutral/neutral 3 M 72 12 month 09.01.2013
Holdings By:
Accenture PLC
All

24.04.2013
The Allstate Corporation, through its subsidiaries, provides property-liability
insurance, as well as other types of insurance in the United States and Canada.
The Company primarily sells private passenger automobile and homeowners
insurance through independent and specialized brokers. Allstate also sells life
insurance, annuity, and group pension products through agents.
LTM as of: 12/yy
52-Week High (12.04.2013) 50.56
52-Week Low (24.04.2012) 32.40
Daily Volume
49.81
23'781.60 1 Yr Total Return 55.39%
Cash and Equivalents 806.00 Consensus Rating 4.172
ALL UN EQUITY YTD Change - Average Volume 30 Day 853'050
ALL UN EQUITY YTD % CHANGE - Average Volume 3 Month 827'565
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
29'394.0 32'013.0 31'400.0 32'654.0 33'315.0 32'654.0 33'315.0 33'588.8 34'249.9 8'296.7 8'387.6
0.78x 0.67x 0.71x 0.59x 0.74x 2.42x 2.81x 0.89x 0.87x - -
- - - - - 0.0 0.0 - - - -
- - - - - 0.00x 0.00x - - - -
(1'679.0) 854.0 928.0 787.0 2'306.0 787.0 2'306.0 2'207.8 2'274.8 620.5 524.3
10.17x 8.63x 11.23x 21.58x 9.21x 21.08x 9.26x 10.51x 9.64x 10.17x 10.04x
EBITDA - Long-Term Rating Date -
EBIT - Long-Term Rating A-
Operating Margin 11.09% Long-Term Outlook NEG
Pretax Margin 9.92% Short-Term Rating Date -
Return on Assets 1.83% Short-Term Rating -
Return on Capital 9.97% EBITDA/Interest Exp. -
Asset Turnover 0.26% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 30.6%
Asset Turnover 0.26
Current Ratio - Net Fixed Asset Turnover -
Quick Ratio - Accounts receivable turnover-days -
Debt to Assets 4.97% Inventory Days -
Tot Debt to Common Equity 30.65% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Allstate Corp/The
Price/Volume
Valuation Analysis
119'976.00
0
10
20
30
40
50
60
a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
.5 M
1.0 M
1.5 M
2.0 M
2.5 M
3.0 M
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
10.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013

24.04.2013
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 22'671'855 4.75 (1'682'359) 31.12.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 22'140'955 4.64 (151'704) 31.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 19'984'076 4.19 (200'033) 31.03.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 12'957'795 2.71 (362'127) 31.12.2012 Investment Advisor
HOTCHKIS & WILEY CAP HOTCHKIS AND WILEY 13F 10'485'305 2.2 (2'368'767) 31.12.2012 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 8'490'084 1.78 (955'355) 31.03.2013 Investment Advisor
ARTISAN PARTNERS HOL ARTISAN PARTNERS LP 13F 7'389'120 1.55 80'488 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO n/a Research 7'163'891 1.5 - 31.12.2012 Investment Advisor
PZENA INVESTMENT MAN PZENA INVESTMENT MAN 13F 6'486'248 1.36 (3'897'691) 31.12.2012 Hedge Fund Manager
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 6'467'278 1.35 (117'260) 31.03.2013 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 5'864'695 1.23 (115'558) 31.12.2012 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 4'714'744 0.99 (41'867) 31.12.2012 Investment Advisor
AJO, LP AJO, LP 13F 4'545'300 0.95 (326'800) 31.12.2012 Investment Advisor
DISCOVERY CAPITAL MA DISCOVERY CAPITAL MA 13F 4'353'350 0.91 2'484'100 31.12.2012 Hedge Fund Manager
CITADEL ADVISORS LLC CITADEL ADVISORS LLC 13F 4'255'921 0.89 345'131 31.12.2012 Hedge Fund Manager
William Blair & Co ADAM KLAUBER outperform 5 M #N/A N/A Not Provided 23.04.2013
Wells Fargo Securities, LLC JOHN A HALL market perform 3 M #N/A N/A Not Provided 22.04.2013
Credit Suisse MICHAEL ZAREMSKI outperform 5 M 55 Not Provided 19.04.2013
Macquarie RAYMOND IARDELLA neutral 3 M 50 12 month 19.04.2013
Deutsche Bank JOSHUA D SHANKER buy 5 M 53 12 month 18.04.2013
Morgan Stanley GREGORY W LOCRAFT Equalwt/In-Line 3 M #N/A N/A Not Provided 18.04.2013
Janney Montgomery Scott LLC ROBERT GLASSPIEGEL buy 5 M #N/A N/A Not Provided 18.04.2013
Keefe, Bruyette & Woods MEYER SHIELDS market perform 3 M 50 12 month 18.04.2013
Sandler O'Neill & Partners, LP J PAUL NEWSOME buy 5 M 57 12 month 18.04.2013
Sterne, Agee & Leach DANIEL FARRELL neutral 3 M 50 12 month 18.04.2013
Evercore Partners VINAY MISQUITH overweight 5 M 54 12 month 18.04.2013
JMP Securities MATTHEW J CARLETTI market perform 3 M #N/A N/A Not Provided 18.04.2013
MKM Partners HARRY FONG buy 5 M 60 12 month 18.04.2013
Barclays JAY H GELB overweight 5 M 57 Not Provided 18.04.2013
Edward Jones JIM SHANAHAN buy 5 M #N/A N/A Not Provided 15.04.2013
Portales Partners NINA GUPTA outperform 5 M #N/A N/A Not Provided 15.04.2013
RBC Capital Markets MARK A DWELLE sector perform 3 M 51 12 month 11.04.2013
Raymond James C GREGORY PETERS strong buy 5 M 57 12 month 08.04.2013
Drexel Hamilton LLC GLORIA L VOGEL hold 3 M 49 12 month 02.04.2013
Goldman Sachs MICHAEL S NANNIZZI Buy/Neutral 5 U 58 12 month 25.03.2013
FBR Capital Markets RANDY BINNER market perform 3 M 45 12 month 25.03.2013
Sanford C. Bernstein & Co JOSH STIRLING outperform 5 M 50 12 month 19.03.2013
Argus Research Corp JOHN M EADE buy 5 M 51 Not Provided 08.02.2013
SunTrust Robinson Humphrey MARK D HUGHES neutral 3 M #N/A N/A Not Provided 07.02.2013
EVA Dimensions AUSTIN BURKETT buy 5 M #N/A N/A Not Provided 15.01.2013
S&P Capital IQ CATHY SEIFERT hold 3 M 43 Not Provided 29.11.2012
Holdings By:
Allstate Corp/The
All

24.04.2013
Altria Group, Inc. is a holding company. The Company, through subsidiaries,
manufactures and sells cigarettes and other tobacco products, including cigars
and pipe tobacco. Altria holds an interest in a brewery company.
LTM as of: 12/yy
52-Week High (01.08.2012) 36.29
52-Week Low (15.11.2012) 30.01
Daily Volume
35.72
71'792.03 1 Yr Total Return 18.69%
MO UN EQUITY YTD Change - Average Volume 30 Day 2'313'230
MO UN EQUITY YTD % CHANGE - Average Volume 3 Month 2'231'027
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
15'957.0 16'824.0 16'892.0 16'619.0 17'500.0 16'619.0 17'500.0 17'692.0 18'020.0 4'033.0 4'614.5
1.92x 3.02x 3.63x 4.28x 4.24x 16.04x 17.62x 4.70x 4.59x 20.61x 17.98x
5'142.0 6'234.0 6'540.0 6'543.0 7'539.0 6'543.0 7'539.0 7'722.1 8'035.7 1'747.2 2'026.2
5.95x 8.16x 9.38x 10.86x 9.84x 10.86x 9.84x 10.73x 10.30x 10.71x 10.65x
4'930.0 3'206.0 3'905.0 3'390.0 4'180.0 3'390.0 3'958.0 4'787.4 5'072.9 1'059.4 1'258.1
9.13x 11.41x 12.96x 14.46x 14.23x 14.61x 14.23x 14.91x 13.91x 14.91x 14.71x
EBIT 7'314.00 Long-Term Rating BBB
Return on Assets 10.98% Short-Term Rating A-2
EBITDA Margin 43.1%
Asset Turnover 0.49
Fiscal Year Ended
Altria Group Inc
Price/Volume
Valuation Analysis
328'224.00
Net Income
P/E
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Credit Ratios
Margin Analysis
Reference
Structure
0
5
10
15
20
25
30
35
40
a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
2.0 M
4.0 M
6.0 M
8.0 M
10.0 M
12.0 M
0.0
10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
70'000.0
80'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
5.00
10.00
15.00
20.00
25.00
30.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013

24.04.2013
BLACKROCK n/a ULT-AGG 104'951'046 5.22 2'097'289 22.04.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 38'237'065 1.9 1'048'361 31.03.2013 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 32'029'388 1.59 (6'418'885) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 30'862'258 1.54 (930'685) 28.02.2013 Investment Advisor
FAYEZ SAROFIM FAYEZ SAROFIM 13F 22'025'357 1.1 (2'738'787) 31.12.2012 Investment Advisor
BARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 21'782'979 1.08 (2'350) 31.12.2012 Investment Advisor
JANUS CAPITAL MANAGE n/a ULT-AGG 18'565'911 0.92 3'183'643 31.12.2012 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 18'083'698 0.9 931'916 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 16'006'213 0.8 1'413'846 31.12.2012 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 15'034'549 0.75 (2'240'184) 31.03.2013 Investment Advisor
FEDERATED INVESTORS FEDERATED INVESTORS 13F 14'402'373 0.72 83'191 31.03.2013 Investment Advisor
GEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 13'325'870 0.66 (1'381'488) 31.12.2012 Investment Advisor
INVESCO LTD n/a ULT-AGG 11'886'434 0.59 (15'091'131) 31.03.2013 Investment Advisor
UBS n/a ULT-AGG 11'505'195 0.57 694'345 28.02.2013 Unclassified
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 11'089'326 0.55 (498'624) 31.12.2012 Investment Advisor
Wells Fargo Securities, LLC BONNIE HERZOG outperform 5 M #N/A N/A Not Provided 19.04.2013
Davenport & Co ANN H GURKIN buy 5 M 37 12 month 15.04.2013
JPMorgan RAE MAILE overweight 5 M 45 6 month 12.04.2013
Stifel CHRISTOPHER R GROWE buy 5 M 36 12 month 01.04.2013
Edward Jones JACK P RUSSO hold 3 M #N/A N/A Not Provided 27.03.2013
Argus Research Corp NATHANIEL GABRIEL hold 3 M #N/A N/A Not Provided 18.03.2013
Barclays MICHAEL J BRANCA equalweight 3 M 31 Not Provided 18.03.2013
Jefferies THILO WREDE hold 3 M 34 12 month 01.03.2013
S&P Capital IQ ESTHER KWON buy 5 M 37 Not Provided 20.02.2013
Morgan Stanley DAVID J ADELMAN Equalwt/In-Line 3 M 34 12 month 19.02.2013
Independent Research GmbH LARS LUSEBRINK buy 5 M 40 12 month 01.02.2013
Credit Agricole Securities (USA) MICHAEL LAVERY outperform 5 M 36 Not Provided 01.02.2013
Goldman Sachs JUDY E HONG neutral/neutral 3 M 36 12 month 31.01.2013
EVA Dimensions AUSTIN BURKETT overweight 5 U #N/A N/A Not Provided 21.01.2013
Holdings By:
Altria Group Inc
All

24.04.2013
Amazon.com, Inc. is an online retailer that offers a wide range of products.
The Company's products include books, music, videotapes, computers,
electronics, home and garden, and numerous other products. Amazon offers
personalized shopping services, Web-based credit card payment, and direct
shipping to customers.
LTM as of: 12/yy
52-Week High (25.01.2013) 284.68
52-Week Low (24.04.2012) 186.57
Daily Volume
267.66
121'844.30 1 Yr Total Return 40.63%
AMZN UW EQUITY YTD Change - Average Volume 30 Day 793'785
AMZN UW EQUITY YTD % CHANGE - Average Volume 3 Month 881'980
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
19'166.0 24'509.0 34'204.0 48'077.0 61'093.0 48'077.0 61'093.0 75'573.3 92'885.6 16'143.0 15'924.6
0.98x 2.19x 2.15x 1.49x 1.75x 6.86x 6.55x 1.53x 1.20x 7.41x 7.48x
1'129.0 1'507.0 1'974.0 1'945.0 2'835.0 1'945.0 2'834.0 4'640.0 6'362.3 944.1 1'042.6
16.55x 35.69x 37.21x 36.75x 37.68x 36.75x 37.70x 24.84x 18.11x 24.56x 23.25x
645.0 902.0 1'152.0 631.0 (39.0) 632.0 (40.0) 1'500.4 2'462.8 262.4 322.4
36.89x 63.60x 71.15x 126.35x - 126.46x 0.00x 77.51x 46.50x 81.63x 73.39x
EBIT 676.00 Long-Term Rating AA-
Return on Assets -0.14% Short-Term Rating NR
Return on Common Equity -0.50%
Return on Capital -0.44% EBITDA/Interest Exp. 30.82
Asset Turnover 2.11% (EBITDA-Capex)/Interest Exp. -10.33
Net Debt/EBITDA -2.49
EBITDA Margin 4.6%
Net Income Margin -0.1% Total Debt/Capital 34.9%
Asset Turnover 2.11
Accounts Receivable Turnover 20.59 Cash Conversion Cycle -33.57
Fiscal Year Ended
Amazon.com Inc
Price/Volume
Valuation Analysis
158'724.00
Net Income
P/E
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Credit Ratios
Margin Analysis
Reference
Structure
0
50
100
150
200
250
300
a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
1.0 M
2.0 M
3.0 M
4.0 M
5.0 M
6.0 M
0.0
10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
70'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013

24.04.2013
BEZOS JEFFREY P n/a Form 4 86'970'020 19.11 (195'151) 15.02.2013 n/a
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 20'211'207 4.44 1'315'756 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 15'535'787 3.41 (672'592) 28.02.2013 Investment Advisor
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 11'895'369 2.61 30'532 31.03.2013 Investment Advisor
SANDS CAPITAL MANAGE SANDS CAPITAL MANAGE 13F 7'730'515 1.7 238'226 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 6'404'636 1.41 376'682 28.02.2013 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 6'217'693 1.37 (801'059) 31.12.2012 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 5'767'335 1.27 (219'454) 28.02.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 5'407'626 1.19 (822'311) 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 4'405'355 0.97 (179'692) 31.12.2012 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 4'260'200 0.94 (100) 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 3'087'754 0.68 16'229 28.02.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 3'037'780 0.67 (14'891) 31.12.2012 Investment Advisor
Sanford C. Bernstein & Co CARLOS KIRJNER outperform 5 M 320 12 month 24.04.2013
Raymond James AARON M KESSLER market perform 3 M #N/A N/A Not Provided 24.04.2013
Nomura ARAM RUBINSON buy 5 M 315 12 month 24.04.2013
JPMorgan DOUGLAS ANMUTH neutral 3 M 300 6 month 23.04.2013
BGC Partners COLIN W GILLIS hold 3 M 245 12 month 23.04.2013
JMP Securities RONALD V JOSEY III market perform 3 M #N/A N/A Not Provided 23.04.2013
Topeka Capital Markets Inc VICTOR ANTHONY buy 5 M 350 12 month 23.04.2013
Morgan Stanley SCOTT W DEVITT Overwt/Attractive 5 M 320 12 month 22.04.2013
Cantor Fitzgerald YOUSSEF H SQUALI buy 5 M 300 12 month 22.04.2013
Piper Jaffray EUGENE E MUNSTER overweight 5 M 329 12 month 22.04.2013
RBC Capital Markets MARK S MAHANEY outperform 5 M 330 12 month 21.04.2013
Evercore Partners KEN SENA overweight 5 M 330 12 month 21.04.2013
BMO Capital Markets EDWARD S WILLIAMS market perform 3 M 260 Not Provided 19.04.2013
Telsey Advisory Group THOMAS FORTE no rating system #N/A N/A M 370 12 month 19.04.2013
Canaccord Genuity Corp MICHAEL GRAHAM hold 3 M 300 12 month 17.04.2013
Janney Montgomery Scott LLC SHAWN C MILNE buy 5 M 310 12 month 15.04.2013
Robert W. Baird & Co COLIN SEBASTIAN outperform 5 M 325 12 month 15.04.2013
Wells Fargo Securities, LLC MATTHEW NEMER outperform 5 M #N/A N/A Not Provided 15.04.2013
Pacific Crest Securities CHAD BARTLEY outperform 5 M 346 12 month 12.04.2013
ISI Group GREGORY MELICH buy 5 M 320 Not Provided 12.04.2013
Cowen and Company JOHN BLACKLEDGE outperform 5 M #N/A N/A Not Provided 12.04.2013
Barclays ANTHONY J DICLEMENTE equalweight 3 M 260 Not Provided 12.04.2013
Deutsche Bank ROSS SANDLER buy 5 M 335 12 month 11.04.2013
Atlantic Equities LLP JAMES CORDWELL overweight 5 M 325 12 month 09.04.2013
Stifel JORDAN ROHAN buy 5 M 335 12 month 08.04.2013
William Blair & Co MARK R MILLER outperform 5 M #N/A N/A Not Provided 02.04.2013
EVA Dimensions CRAIG STERLING sell 1 D #N/A N/A Not Provided 16.03.2013
Daiwa Securities Co. Ltd. KAZUYA NISHIMURA outperform 5 M 295 Not Provided 22.02.2013
Oppenheimer & Co JASON S HELFSTEIN outperform 5 M 325 18 month 11.02.2013
Argus Research Corp JOSEPH F BONNER hold 3 M #N/A N/A Not Provided 31.01.2013
Goldman Sachs HEATH P TERRY buy/attractive 5 M 330 12 month 30.01.2013
Credit Suisse STEPHEN JU outperform 5 M 334 Not Provided 30.01.2013
Jefferies BRIAN J PITZ buy 5 M 330 12 month 30.01.2013
Needham & Co KERRY RICE hold 3 M #N/A N/A Not Provided 30.01.2013
Macquarie BENJAMIN A SCHACHTER outperform 5 M 305 12 month 30.01.2013
B Riley & Company, Inc SCOTT TILGHMAN buy 5 M 341 Not Provided 30.01.2013
Benchmark Company LLC DANIEL L KURNOS buy 5 M 330 12 month 30.01.2013
Credit Agricole Securities (USA) JAMES LEE outperform 5 D 290 Not Provided 30.01.2013
Wedge Partners BRIAN BLAIR no rating system #N/A N/A M #N/A N/A Not Provided 26.11.2012
McAdams Wright Ragen Inc DAN GEIMAN hold 3 M #N/A N/A Not Provided 26.10.2012
S&P Capital IQ MICHAEL SOUERS hold 3 M 250 Not Provided 26.10.2012
Battle Road Research TEAM COVERAGE hold 3 M #N/A N/A Not Provided 27.04.2012
First Global Stockbroking RITESH DOSHI market perform 3 M #N/A N/A Not Provided 27.07.2011
Holdings By:
Amazon.com Inc
All

24.04.2013
American Electric Power Company, Inc.(AEP)is a public utility holding company.
The Company provides electric service, consisting of generation, transmission
and distribution, on an integrated basis to their retail customers. AEP serves
portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan,
Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
LTM as of: 12/yy
52-Week High (24.04.2013) 50.78
52-Week Low (17.05.2012) 37.43
Daily Volume
50.63
52-Week High % Change 0.00% Dividend Yield 3.71
24'595.57 1 Yr Total Return 38.37%
Cash and Equivalents 603.00 Consensus Rating 3.783
AEP UN EQUITY YTD Change - Average Volume 30 Day 527'372
AEP UN EQUITY YTD % CHANGE - Average Volume 3 Month 585'265
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
14'440.0 13'489.0 14'427.0 15'116.0 14'945.0 15'116.0 14'945.0 15'848.7 16'152.3 3'787.3 3'679.3
2.18x 2.48x 2.41x 2.49x 2.60x 9.48x 10.15x 2.72x 2.71x 11.36x 11.71x
4'087.0 4'431.0 4'443.0 4'713.0 4'874.0 4'709.0 4'529.0 4'796.8 4'952.7 1'150.7 1'166.3
7.70x 7.55x 7.83x 7.98x 7.97x 7.99x 8.58x 8.91x 8.63x 9.22x 9.15x
1'383.0 1'360.0 1'214.0 1'946.0 1'259.0 1'946.0 1'259.0 1'543.6 1'628.2 388.7 391.3
10.30x 11.67x 11.87x 9.93x 13.81x 12.15x 13.77x 16.03x 15.27x 15.96x 15.81x
EBIT 2'956.00 Long-Term Rating BBB
Return on Assets 2.36% Short-Term Rating A-2
EBITDA Margin 30.3%
Asset Turnover 0.28
Current Ratio 0.67 Net Fixed Asset Turnover -
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
American Electric Power Co Inc
Price/Volume
Valuation Analysis
88'798.00
0
10
20
30
40
50
60
a-12 m-12 j-12 j-12 a-12 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13
.0 M
.5 M
1.0 M
1.5 M
2.0 M
2.5 M
0.0
2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
16'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013

24.04.2013
FMR LLC n/a ULT-AGG 8'727'914 1.8 765'779 28.02.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 7'522'338 1.55 (620'596) 31.12.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 6'489'913 1.34 (889'770) 31.12.2012 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 6'466'295 1.33 652'462 28.02.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 6'273'613 1.29 73'373 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 5'340'019 1.1 (2'148'216) 31.12.2012 Investment Advisor
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 5'113'886 1.05 (468'393) 31.03.2013 Investment Advisor
EATON VANCE MANAGEME EATON VANCE MANAGEME 13F 4'670'909 0.96 65'686 31.12.2012 Investment Advisor
INVESCO LTD n/a ULT-AGG 4'554'875 0.94 265'191 31.12.2012 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 4'008'757 0.83 (202'475) 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 3'757'975 0.77 (611'067) 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 3'705'639 0.76 555'640 31.12.2012 Government
FEDERATED INVESTORS FEDERATED INVESTORS 13F 3'354'773 0.69 91'933 31.03.2013 Investment Advisor
Macquarie ANGIE STOROZYNSKI neutral 3 M 49 12 month 24.04.2013
Barclays DANIEL F FORD overweight 5 M 54 Not Provided 24.04.2013
SunTrust Robinson Humphrey ALI AGHA neutral 3 D #N/A N/A Not Provided 23.04.2013
Wolfe Trahan & Co STEVEN I FLEISHMAN outperform 5 M 56 12 month 23.04.2013
Sanford C. Bernstein & Co HUGH WYNNE market perform 3 M 46 12 month 22.04.2013
KeyBanc Capital Markets PAUL T RIDZON buy 5 M 52 12 month 22.04.2013
RBC Capital Markets SHELBY G TUCKER sector perform 3 M 47 12 month 19.04.2013
Deutsche Bank JONATHAN ARNOLD hold 3 M 49 12 month 17.04.2013
Credit Suisse DANIEL EGGERS outperform 5 M 56 Not Provided 17.04.2013
BGC Partners KIT KONOLIGE buy 5 M 54 12 month 17.04.2013
Jefferies PAUL B FREMONT buy 5 M 55 12 month 16.04.2013
Wells Fargo Securities, LLC NEIL A KALTON market perform 3 D #N/A N/A Not Provided 15.04.2013
Morgan Stanley STEPHEN C BYRD Equalwt/In-Line 3 M 51 12 month 10.04.2013
Edward Jones ANDREW B SMITH hold 3 M #N/A N/A Not Provided 08.04.2013
ISI Group GREG GORDON buy 5 M 48 12 month 04.04.2013
Goldman Sachs MICHAEL J LAPIDES neutral/neutral 3 M 47 12 month 02.04.2013
EVA Dimensions AUSTIN BURKETT hold 3 D #N/A N/A Not Provided 05.03.2013
Argus Research Corp MICHAEL BURKE buy 5 M 50 Not Provided 25.02.2013
BMO Capital Markets MICHAEL S WORMS market perform 3 M 46 Not Provided 19.02.2013
Hilliard Lyons DAVID B BURKS buy 5 M 49 12 month 19.02.2013
JPMorgan CHRISTOPHER TURNURE neutral 3 M 45 6 month 23.01.2013
Holdings By:
American Electric Power Co Inc
All

Fundamental Equity Analysis - S&P 100 Index Components (OEX Index)

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