04.03.2013
Ticker: Two Harbors Investment Corp Benchmark:
Currency: New York: TWO, Currency: USD S&P 500 INDEX (SPX)
Sector: Financials Industry: Real Estate Investment Trusts Year:
Telephone 1-612-238-3300 Revenue (M) Business Segments in USD Sales (M) Geographic Segments in USD Sales (M)
Website www.twoharborsinvestment.com No of Employees REIT - Mortgage 578 United States 578
Address 601 Carlson Parkway Suite 330 Minnetonka, MN 55305 United States
Share Price Performance in USD
Price 12.81 1M Return 3.0%
52 Week High 12.87 6M Return 18.9%
52 Week Low 8.70 52 Wk Return 44.3%
52 Wk Beta 0.53 YTD Return 15.6%
Credit Ratings
Bloomberg IG6
S&P - Date - Outlook -
Moody's - Date - Outlook -
Fitch - Date - Outlook -
Valuation Ratios
12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E
P/E 140.0x 6.1x 6.9x 9.4x 9.8x 9.9x 10.2x
EV/EBIT 1'014.7x 40.9x 39.7x 33.3x - - -
EV/EBITDA 806.5x 36.3x 35.5x - - - -
P/S 63.1x 4.7x 3.8x 4.6x 8.4x 8.3x 8.6x
P/B 1.1x 1.0x 1.0x 1.0x 1.1x 1.2x 1.2x
Div Yield 2.7% 15.1% 17.3% 15.4% 10.3% 10.8% 9.6%
Profitability Ratios %
12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E
Gross Margin - - - - - - -
EBITDA Margin 18.0 83.6 89.9 - - - -
Operating Margin 14.8 81.9 88.9 89.9 86.4 88.2 83.4
Profit Margin -245.2 77.3 53.5 50.5 86.6 86.6 83.4
Return on Assets -2.2 3.1 2.6 2.3 2.2 2.4 -
Return on Equity -5.7 14.2 15.4 12.4 11.5 11.3 -
Leverage and Coverage Ratios
12/09 12/10 12/11 12/12
Current Ratio - - - - Current Capitalization in USD
Quick Ratio - - - - Common Shares Outstanding (M) 298.8
EBIT/Interest - - - - Market Capitalization (M) 3828.3
Tot Debt/Capital 0.8 0.8 0.8 0.8 Cash and ST Investments (M) 821.1
Tot Debt/Equity 3.4 3.1 5.2 3.7 Total Debt (M) 12624.5
Eff Tax Rate % - - - - Preferred Equity (M) 0.0
LT Investments in Affiliate Companies (M) 0.0
Investments (M) 0.0
Enterprise Value (M) 15631.7
Two Harbors Investment Corporation is a real estate investment trust (REIT). The
Company focuses on investing in, financing and managing residential mortgage-backed
securities, or RMBS, and related investments.
TWO UN
578
#N/A N/A
Company Analysis - Overview
100%
NBFP % JlnpdUdb
100%
Rkfpba OpUpbo
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Two Harbors Investment Corp
Target price in USD
Date Buy Hold Sell Date Price Target Price Broker Analyst Recommendation Target Date
.5%CbX%-0 5,% .,% ,% 1%JWn%-0 -.&5- -.&4. C8N 9WmfpWh JWngbpo D78NFBI MLDDF lrpmbnclni -1&,, 1%JWn%-00-%GWk%-0 40% .4% ,% -%JWn%-0 -.&5, -.&23 Hbbcb! 8nrvbppb Tllao 8LOB P DBLNDB lrpmbnclni -.&2, .5%CbX%-00-%AbY%-. 40% .4% ,% .5%CbX%-0 -.&53 -.&23 GJM ObYrnfpfbo PNBSLN 9N7KOPLK iWngbp lrpmbnclni -.&,, .5%CbX%-00,%Kls%-. 31% 03% ,% .4%CbX%-0 -.&2. -.&23 Opbnkb! 7dbb IbWYe EBKNV G 9LCCBV GN kbrpnWh -2%CbX%-00-%LYp%-. 40% .4% ,% .3%CbX%-0 -.&.5 -.&23 9nbafp Orfoob ALRDI7O E7NPBN lrpmbnclni -.&2, -1%CbX%-0.5%Obm%-. 40% .4% ,% .2%CbX%-0 -.&01 -.&23 IWabkXrnd PeWhiWkk 9l A7SFA T7INLA kbrpnWh -.%CbX%-00-%7rd%-. 4,% 0,% ,% ..%CbX%-0 -.&2, -.&23 TrkabnhfYe ObYrnfpfbo JBNNFII NLOO elha -.&,, --%CbX%-00-%Grh%-. 5.% -5% ,% .-%CbX%-0 -.&10 -.&23 JWufi Dnlrm II9 JF9E7BI AF7K7 Xrv -0&,, 5%CbX%-0.6%Grk%-. 50% -4% ,% .,%CbX%-0 -.&2, -.&23 8WnYhWvo J7NH 9 ABSNFBO lsbntbfdep -0&,, 5%CbX%-00-%JWv%-. 50% -4% ,% -6%CbX%-0 -.&45 -.&23 9limWoo Mlfkp NbobWnYe PnWafkd II9 G7OLK J OPBT7NP Xrv -.&2, 5%CbX%-00,%7mn%-. 52% -2% ,% -5%CbX%-0 -.&16 -.&23 KWpflkWh ObYrnfpfbo 8LNFO MF7IILRU Xrv 4%CbX%-00,%JWn%-. 52% -2% ,% -2%CbX%-0 -.&16 -.&23 Tbhho CWndl ObYrnfpfbo! II9 GLBI ELR9H lrpmbnclni 4%CbX%-0
-1%CbX%-0 -.&21 -.&23 BS7 Afibkoflko 7ROPFK 8RNHBPP Xrv 4%CbX%-0-0%CbX%-0 -.&3, -.&23 AbrpoYeb 8Wkg OPBMEBK 7 I7TO Xrv -.&42 .-%AbY%-.-.%CbX%-0 -.&11 -.&23--%CbX%-0 -.&01 -.&235%CbX%-0 -.&.2 -.&114%CbX%-0 -.&-5 -.&053%CbX%-0 -.&10 -.&002%CbX%-0 -.&12 -.&001%CbX%-0 -.&11 -.&00-%CbX%-0 -.&14 -.&00
0-%GWk%-0 -.&1. -.&000,%GWk%-0 -.&16 -.&00.6%GWk%-0 -.&13 -.&00.5%GWk%-0 -.&15 -.&00.2%GWk%-0 -.&06 -.&00.1%GWk%-0 -.&01 -.&00.0%GWk%-0 -.&06 -.&00..%GWk%-0 -.&2, -.&00
Company Analysis - Analysts Ratings
6rt RkT Bagg 8aSliiakTRodlkn sn 7mdSa RkT PRmcao 7mdSa
52% 52% 50% 50% 5'%4!% 40% 40%
31%40% 40%
5!%
%2% %2% %4% %4% %5%0!% '4% '4%
03%'4% '4%
'!%
!% !% !% !% !% !% !% !% !% !% !% !%
,%
.,%
1,%
3,%
4,%
-,,%
jUno&-. Usn&-. jUf&-. grfk&-. grfi&-. Ulyp&-. obmp&-. lWp&-. kls&-. axW&-. gUks&-0 cxsn&-0
6nl
hbn N
bWlj
jbk
aUpfl
k
,
.
1
3
4
-,
-.
-1 MnfW
b
6rv Elia Obii MnfWb PUndbp MnfWb
6mleamn PRmcao 7mdSa
--
-.
-.
-0
-0
-1
-1
-2
C6N
8Um
fpUi J
Unhb
po
Hbb
cb! 6
nrvb
ppb
Tll
ao
GJM
ObW
rnfpf
bo
Opb
nkb!
5db
b
IbU
We
8nb
afp O
rfoo
b
IUab
kVrn
d Pe
Uij
Ukk
8
l
Trk
abnif
We O
bWrn
fpfbo
JUu
fj D
nlrm
II8
6Un
WiUv
o
8lj
mUoo
Mlf
kp N
bobU
nWe
Pn
Uafk
d II
8
KUp
flkU
i ObW
rnfpf
bo
Tbi
io C
Undl
ObW
rnfpf
bo! I
I8
BS
5 A
fjbk
oflk
o
Abr
poWe
b 6
Ukh
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
04.03.2013
Two Harbors Investment Corp
Ownership Statistics Geographic Ownership Distribution
Shares Outstanding (M) 298.8 United States 93.40%
Float 98.6% Canada 3.44%
Short Interest (M) 10.0 Switzerland 1.37%
Short Interest as % of Float 3.39% Unknown Country 0.54%
Days to Cover Shorts 1.80 Britain 0.48%
Institutional Ownership 71.33% Germany 0.28%
Retail Ownership 28.28% Luxembourg 0.18%
Insider Ownership 0.39% Others 0.30%
Institutional Ownership Distribution
Investment Advisor 81.92%
Hedge Fund Manager 15.73%
Insurance Company 0.83%
Individual 0.54%
Pricing data is in USD Others 0.98%
Top 20 Owners:
Holder Name Position Position Change Market Value % of Ownership Report Date Source Country
BLACKROCK 22'409'034 0 287'059'726 7.50% 31.12.2012 ULT-AGG UNITED STATES
VANGUARD GROUP INC 12'334'061 811'937 157'999'321 4.13% 31.12.2012 13F UNITED STATES
PERKINS INVESTMENT M 10'350'511 3'291'106 132'590'046 3.46% 31.12.2012 13F UNITED STATES
ALGER MANAGEMENT INC 9'231'032 527'997 118'249'520 3.09% 31.12.2012 13F UNITED STATES
SAB CAPITAL MANAGEME 8'131'158 -1'789'740 104'160'134 2.72% 31.12.2012 13F UNITED STATES
EAGLE ASSET MANAGEME 7'366'795 376'229 94'368'644 2.46% 31.12.2012 13F UNITED STATES
MORGAN STANLEY 7'355'405 -825'960 94'222'738 2.46% 31.12.2012 ULT-AGG UNITED STATES
STATE STREET 6'513'051 493'748 83'432'183 2.18% 31.12.2012 ULT-AGG UNITED STATES
FMR LLC 5'926'206 -1'775'001 75'914'699 1.98% 31.12.2012 ULT-AGG UNITED STATES
TORONTO DOMINION BAN 5'326'900 2'581'600 68'237'589 1.78% 31.12.2012 13F CANADA
NORTHERN TRUST CORPO 4'802'186 578'415 61'516'003 1.61% 31.12.2012 13F UNITED STATES
GOLDMAN SACHS GROUP 4'367'793 -812'578 55'951'428 1.46% 31.12.2012 13F UNITED STATES
SAC CAPITAL ADVISORS 4'037'108 4'037'108 51'715'353 1.35% 31.12.2012 13F UNITED STATES
WHITEBOX ADVISORS LL 3'988'108 317'721 51'087'663 1.33% 31.12.2012 13F UNITED STATES
THORNBURG INVESTMENT 3'069'300 196'630 39'317'733 1.03% 31.12.2012 13F UNITED STATES
PINE RIVER CAPITAL M 2'906'918 0 37'237'620 0.97% 31.12.2011 13G UNITED STATES
JP MORGAN 2'776'178 519'696 35'562'840 0.93% 31.12.2012 ULT-AGG
ROBECO INVESTMENT MG 2'687'982 533'293 34'433'049 0.90% 31.12.2012 13F UNITED STATES
BANK OF AMERICA CORP 2'527'784 -900'898 32'380'913 0.85% 31.12.2012 13F UNITED STATES
GEM REALTY CAPITAL I 2'464'900 15'900 31'575'369 0.82% 31.12.2012 13F UNITED STATES
Top 5 Insiders:
Holder Name Position Position Change Market Value % of Ownership Report Date Source
SIERING THOMAS 312'573 8'200 4'004'060 0.11% 19.02.2013 Form 4
JOHNSON WILLIAM W 246'391 10'000 3'156'269 0.08% 21.11.2012 Form 4
KUHN STEVE 185'000 20'000 2'369'850 0.06% 16.11.2012 Form 4
TAYLOR BRIAN C 100'000 10'000 1'281'000 0.03% 16.11.2012 Form 4
ROTH WILLIAM 81'300 3'000 1'041'453 0.03% 21.02.2013 Form 4
Company Analysis - Ownership
Ownership Type
72%
28%
0%
FkopfprpflkUi Ltkbnoefm NbpUfi Ltkbnoefm Fkofabn Ltkbnoefm
Geographic Ownership
94%
0%1%0%1% 0%0%
4%
Rkfpba OpUpbo 8UkUaU OtfpwbniUkaRkhkltk 8lrkpnv 6nfpUfk DbnjUkvIrubjVlrnd Lpebno
Institutional Ownership
81%
1% 1%1%
16%
Fksbopjbkp 5asfoln Ebadb Crka JUkUdbn FkornUkWb 8ljmUkvFkafsfarUi Lpebno
TOP 20 ALL
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Two Harbors Investment Corp
Financial information is in USD (M)
Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E
Income Statement
Revenue 4 4 46 238 578 453 462 446
- Cost of Goods Sold
Gross Income
- Selling, General & Admin Expenses 1 3 8 24 51
(Research & Dev Costs)
Operating Income 3 1 34 191 455 392 407 372
- Interest Expense
- Foreign Exchange Losses (Gains)
- Net Non-Operating Losses (Gains) 0 10 -1 65 209
Pretax Income 3 -9 35 126 245 392 402 372
- Income Tax Expense 1 -0 -1 -1 -42
Income Before XO Items 2 -9 36 127 287
- Extraordinary Loss Net of Tax 0 0 0 0 -4
- Minority Interests 0 0 0 0 0
Diluted EPS Before XO Items 0.08 (0.39) 1.60 1.29 1.18
Net Income Adjusted* 29 154 311 393 400 372
EPS Adjusted 1.30 1.55 1.28 1.30 1.29 1.25
Dividends Per Share 0.00 0.26 1.48 1.60 1.71 1.32 1.38 1.23
Payout Ratio % 0.0 95.3 129.9 144.0 1.01 1.07 0.98
Total Shares Outstanding 33 13 41 141 299
Diluted Shares Outstanding 25 23 22 99 242
EBITDA 3 1 39 214
*Net income excludes extraordinary gains and losses and one-time charges.
Equivalent Estimates
Company Analysis - Financials I/IV
Fiscal Year
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E
Balance Sheet
Total Current Assets
+ Cash & Near Cash Items 3 26 164 360 821
+ Short Term Investments 259 503 1'576 7'425 15'366
+ Accounts & Notes Receivable 0 3 5 23 43
+ Inventories
+ Other Current Assets
Total Long-Term Assets
+ Long Term Investments 0 0 0 0
Gross Fixed Assets
Accumulated Depreciation
+ Net Fixed Assets 0 0 0 0
+ Other Long Term Assets 0 6 52 292 585
Total Current Liabilities
+ Accounts Payable
+ Short Term Borrowings 0 412 1'170 6'660 12'625
+ Other Short Term Liabilities 0 5 245 170 739
Total Long Term Liabilities 78 0 0 0 0
+ Long Term Borrowings 0 0 0 0 0
+ Other Long Term Borrowings 78 0 0 0 0
Total Liabilities 78 417 1'415 6'830 13'363
+ Long Preferred Equity 0 0 0 0 0
+ Minority Interest 0 0 0 0 0
+ Share Capital & APIC 181 132 367 1'375 2'951
+ Retained Earnings & Other Equity 3 -10 15 -104 499
Total Shareholders Equity 184 122 382 1'270 3'451
Total Liabilities & Equity 262 538 1'797 8'100 16'814
Book Value Per Share 5.61 9.10 9.44 9.03 11.55 11.24 10.94 10.34
Tangible Book Value Per Share 5.61 9.10 9.44 9.03 11.55
Company Analysis - Financials II/IV
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E
Cash Flows
Net Income 2 -9 36 127 398 406
+ Depreciation & Amortization 0 0 0 0
+ Other Non-Cash Adjustments 0 -0 -1 26
+ Changes in Non-Cash Capital -1 -2 -1 -2
Cash From Operating Activities 2 -11 33 152
+ Disposal of Fixed Assets 0 0 0 0
+ Capital Expenditures 0 0 0 0
+ Increase in Investments 0 -503 -1'621 -8'341
+ Decrease in Investments 0 2 474 2'270
+ Other Investing Activities 1 250 286 -261
Cash From Investing Activities 1 -250 -861 -6'333
+ Dividends Paid 0 0 -27 -120
+ Change in Short Term Borrowings 0 0 0 0
+ Increase in Long Term Borrowings 0 412 4'893 29'793
+ Decrease in Long Term Borrowings 0 0 -4'136 -24'302
+ Increase in Capital Stocks 0 0 235 1'007
+ Decrease in Capital Stocks 0 -127 0 0
+ Other Financing Activities -0 0 0 0
Cash From Financing Activities -0 285 966 6'377
Net Changes in Cash 2 23 138 196
Free Cash Flow (CFO-CAPEX) 2 -11 33 152
Free Cash Flow To Firm
Free Cash Flow To Equity 401 791 5'642
Free Cash Flow per Share 0.07 -0.50 1.48 1.53
Company Analysis - Financials III/IV
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E
Ratio Analysis
Valuation Ratios
Price Earnings 140.0x 6.1x 6.9x 9.4x 9.8x 9.9x 10.2x
EV to EBIT 1'014.7x 40.9x 39.7x 33.3x
EV to EBITDA 806.5x 36.3x 35.5x
Price to Sales 63.1x 4.7x 3.8x 4.6x 8.4x 8.3x 8.6x
Price to Book 1.1x 1.0x 1.0x 1.0x 1.1x 1.2x 1.2x
Dividend Yield 2.7% 15.1% 17.3% 15.4% 10.3% 10.8% 9.6%
Profitability Ratios
Gross Margin
EBITDA Margin 76.1% 18.0% 83.6% 89.9% - - -
Operating Margin 76.1% 14.8% 81.9% 88.9% 89.9% 86.4% 88.2% 83.4%
Profit Margin 51.7% -245.2% 77.3% 53.5% 50.5% 86.6% 86.6% 83.4%
Return on Assets -2.2% 3.1% 2.6% 2.3% 2.2% 2.4%
Return on Equity -5.7% 14.2% 15.4% 12.4% 11.5% 11.3%
Leverage & Coverage Ratios
Current Ratio
Quick Ratio
Interest Coverage Ratio (EBIT/I)
Tot Debt/Capital 0.00 0.77 0.75 0.84 0.79
Tot Debt/Equity 0.00 3.38 3.06 5.24 3.66
Others
Asset Turnover 0.01 0.04 0.05 0.05
Accounts Receivable Turnover
Accounts Payable Turnover
Inventory Turnover
Effective Tax Rate 32.2%
Company Analysis - Financials IV/IV
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
TWO HARBORS
INVENEW YORK MTGE REDWOOD TRUST
ANNALY CAPITAL
M
CHIMERA INV
CORP
INVESCO
MORTGAGE
AMERICAN
CAPITAL
NEWCASTLE INVT
C
CAPSTEAD
MORTGAGISTAR FINANCIAL MFA FINANCIAL
GRAMERCY
CAPITAL
PUTNAM
MORTGAGE
AG MORTGAGE
INVE
ARMOUR
RESIDENTI
12/2012 12/2011 12/2012 12/2012 12/2010 12/2012 12/2012 12/2012 12/2012 12/2012 12/2011 12/2011 12/2009 12/2011 12/2012
12.87 7.69 21.41 17.75 3.14 21.94 36.77 11.38 14.59 10.75 9.24 3.94 - 26.41 7.98
01.03.2013 24.09.2012 04.03.2013 12.09.2012 12.02.2013 30.01.2013 17.09.2012 19.02.2013 24.09.2012 15.02.2013 01.02.2013 20.02.2013 - 04.03.2013 01.08.2012
9.85 5.51 11.06 13.72 1.81 16.28 28.08 5.73 10.81 5.37 7.01 2.21 - 19.09 5.70
15.11.2012 14.11.2012 14.03.2012 15.11.2012 27.07.2012 09.04.2012 15.11.2012 06.03.2012 15.11.2012 05.06.2012 10.04.2012 13.06.2012 - 19.04.2012 15.11.2012
161'206 172'888 405'903 920'665 2'894'361 176'424 2'553'259 734'789 108'278 499'771 1'709'272 129'605 0 56'593 731'363
12.81 7.09 21.06 15.32 3.04 20.68 31.85 11.18 12.38 10.15 8.87 3.84 - 26.29 6.68
-0.5% -7.9% -1.6% -13.7% -3.0% -5.7% -13.4% -1.8% -15.2% -5.6% -4.0% -2.4% - -0.5% -16.4%
30.1% 28.6% 90.4% 11.7% 68.0% 27.0% 13.4% 95.1% 14.5% 89.0% 26.5% 73.8% - 37.7% 17.1%
298.8 13.9 81.7 974.7 1'027.0 116.2 338.9 105.2 96.2 83.8 356.1 51.1 - - 95.4
3'828.3 351.2 1'720.5 14'511.9 3'122.9 2'780.9 12'388.1 2'828.8 1'182.2 849.0 3'171.5 209.8 - 708.5 2'496.8
12'624.5 357.4 3'221.0 105'915.0 4'054.1 15'720.5 75'415.0 2'895.0 12'887.3 4'691.5 8'995.1 2'470.7 - - -
- - - 913.1 - 135.4 167.0 61.6 190.7 545.0 96.0 88.1 - - -
- 1.0 - - - 31.4 - - - 87.9 - 0.9 - - -
821.1 16.6 81.0 615.8 7.2 286.5 2'430.0 157.4 475.4 256.3 394.0 163.7 - - 252.4
15'631.7 4'985.3 4'860.5 120'724.1 9'268.3 18'381.6 85'540.1 4'762.3 13'784.9 5'372.1 13'008.5 2'411.1 - 4'632.5 1'769.5
LFY 577.5 22.5 278.0 3'765.3 748.1 613.9 1'952.0 310.5 256.6 400.5 498.3 211.2 - - 12.2
LTM 578.4 102.5 291.4 3'765.3 758.0 607.9 1'951.0 318.0 256.6 371.4 498.6 198.7 - - 184.1
CY+1 453.3 40.0 229.5 1'708.9 763.0 410.8 1'552.0 335.7 162.0 253.1 337.3 - - 75.0 375.5
CY+2 461.5 79.9 210.0 1'716.8 657.0 444.7 1'607.2 393.0 172.5 403.0 357.7 - - 96.0 388.0
LFY 26.2x 216.2x 16.3x 31.8x 12.0x 29.1x 42.5x - 53.4x 13.0x 25.8x 11.2x - - 134.6x
LTM 26.1x 47.6x 15.5x 31.8x 11.9x 29.4x 42.5x - 53.4x 14.0x 25.8x 11.9x - - 8.9x
CY+1 - - - - - - - 8.7x - - - - - - -
CY+2 - - - - - - - 7.4x - - - - - - -
LFY 214.2 12.1 171.2 3'576.9 701.2 438.9 1'061.3 262.1 241.2 167.8 467.1 156.3 - - 2.5
LTM 355.8 96.5 214.1 3'523.6 699.8 542.0 1'138.9 273.8 241.2 170.9 466.3 90.2 - - 163.1
CY+1 - - - - - - - 298.0 138.0 227.0 293.5 - - - -
CY+2 - - - - - - - 327.0 143.0 283.0 320.5 - - - -
LFY 70.6x 401.2x 26.4x 33.5x 12.8x 40.8x 78.2x - 56.8x 31.0x 27.6x 15.1x - - 665.0x
LTM 46.9x 50.5x 24.4x 34.0x 12.8x 31.7x 85.1x - 56.8x 30.5x 27.6x 26.2x - - 10.1x
CY+1 - - - - - - - 9.8x - - - - - - -
CY+2 - - - - - - - 8.9x - - - - - - -
LFY 1.18 0.60 1.03 1.74 0.67 2.89 4.17 1.14 1.50 -2.73 0.93 -0.06 - - 0.98
LTM 1.12 1.03 1.29 1.77 0.53 2.89 4.40 2.53 1.50 -2.72 0.80 -0.30 - 3.38 0.97
CY+1 1.30 1.15 1.71 1.45 0.51 2.63 4.10 1.22 1.29 (1.35) 0.83 - - 3.54 0.97
CY+2 1.29 1.06 2.05 1.45 0.45 2.63 4.09 1.41 1.31 (0.05) 0.82 - - 3.62 0.95
LFY 11.4x 6.9x 16.3x 8.7x 5.7x 7.2x 7.2x 4.4x 8.3x - 11.1x - - 7.8x 6.9x
LTM 11.4x 6.9x 16.3x 8.7x 5.7x 7.2x 7.2x 4.4x 8.3x - 11.1x - - 7.8x 6.9x
CY+1 9.8x 6.2x 12.3x 10.5x 5.9x 7.9x 7.8x 9.1x 9.6x - 10.7x - - 7.4x 6.9x
CY+2 9.9x 6.7x 10.3x 10.6x 6.8x 7.9x 7.8x 7.9x 9.4x - 10.9x - - 7.3x 7.0x
1 Year 142.5% 10.5% 28.0% (1.2%) 86.1% 30.9% 71.9% 6.2% 5.4% (7.5%) 26.9% 15.0% - - -
5 Year - 83.5% (13.1%) 4.5% - - - (13.6%) (5.0%) (24.5%) 8.3% (0.6%) - - -
1 Year - (7.4%) - - 88.4% - - - 6.7% (24.1%) 27.5% 6.3% - - -
5 Year - (28.4%) (27.2%) 24.1% - - - (12.5%) (4.2%) (32.7%) 20.0% (1.7%) - - -
LTM 87.6% 94.1% 79.0% 93.2% 92.3% 93.3% 89.9% 85.2% 94.0% 46.0% 93.5% 45.4% - - 88.6%
CY+1 - - - - - - - 88.8% 85.2% 89.7% 87.0% - - - -
CY+2 - - - - - - - 83.2% 82.9% 70.2% 89.6% - - - -
Total Debt / Equity % 365.9% 419.1% 282.5% 705.6% 110.1% 648.9% 703.0% 2218.3% 986.5% 378.7% 374.5% - - - 0.0%
Total Debt / Capital % 78.5% 80.6% 73.9% 86.9% 52.4% 85.9% 87.4% 93.8% 89.6% 78.0% 78.3% 121.7% - - 0.0%
Total Debt / EBITDA 39.442x 48.463x 19.108x 29.714x 8.795x 27.448x 76.853x - 53.427x 27.459x 21.854x 25.383x - - 0.000x
Net Debt / EBITDA 37.100x 48.038x 18.924x 29.071x 8.781x 27.096x 74.597x - 51.456x 25.958x 20.888x 23.441x - - -4.460x
EBITDA / Int. Expense - - - - - - - 1.899x 3.099x 0.473x 3.127x - - - -
S&P LT Credit Rating - - - - - - - - - B+ - - - - -
S&P LT Credit Rating Date - - - - - - - - - 18.03.2011 - - - - -
Moody's LT Credit Rating - - - - - - - - - B3 - - - - -
Moody's LT Credit Rating Date - - - - - - - - - 04.10.2012 - - - - -
52-Week High Date
52-Week Low
Latest Fiscal Year:
52-Week High
Total Debt
Market Capitalization
Daily Volume
52-Week Low % Change
Current Price (3/dd/yy)
52-Week High % Change
Cash and Equivalents
EBITDA
EV/EBITDA
Enterprise Value
Valuation
Preferred Stock
52-Week Low Date
Minority Interest
Total Common Shares (M)
P/E
Revenue Growth
Total Revenue
EV/Total Revenue
EPS
EBITDA Growth
EBITDA Margin
Credit Ratings
Leverage/Coverage Ratios
Company Analysis - Peers Comparision
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Top Related