ใครว่างรบกวนช่วยผมวิเคราะห์และ Valuation หุ้นตัวนี้หน่อยคับ
โพสต์แล้ว: อังคาร พ.ย. 16, 2010 10:02 am
Assets in Millions of Dollars
12/2009 12/2008 12/2007 12/2006 12/2005
Cash and Equivalents 7,021 4,701 4,093 2,440 4,701
Restrictable Cash - - - - -
Marketable Securities 2,192 278 215 150 66
Receivables 3,758 3,090 3,317 2,587 2,281
Inventories 2,354 2,187 2,220 1,641 1,379
Prepaid Expenses 2,226 1,920 2,260 1,623 1,778
Current Deferred Income Taxes - - - - -
Other Current Assets - - - - -
Total Current Assets 17,551 12,176 12,105 8,441 10,205
Gross Fixed Assets 16,467 14,400 14,444 11,911 10,184
Accumulated Depreciation (6,906) (6,074) (5,951) (5,008) (4,353)
Net Fixed Assets 9,561 8,326 8,493 6,903 5,831
Intangibles 8,604 8,476 7,963 3,732 2,774
Cost in Excess 4,224 4,029 4,256 1,403 1,047
Non-Current Deferred Income Taxes - - - - -
Other Non-Current Assets 8,731 7,512 10,452 9,484 9,570
Total Non-Current Assets 31,120 28,343 31,164 21,522 19,222
Total Assets 48,671 40,519 43,269 29,963 29,427
Liabilities in Millions of Dollars
12/2009 12/2008 12/2007 12/2006 12/2005
Accounts Payable 1,410 1,370 1,380 929 4,493
Short Term Debt 51 465 6,052 33 4,546
Notes Payable 6,749 6,066 - 3,235 -
Accrued Expenses - - 5,535 4,126 -
Accrued Liabilities 5,247 4,835 258 567 797
Deferred Revenues - - - - -
Current Deferred Income Taxes - - - - -
Other Current Liabilities 264 252 - - -
Total Current Liabilities 13,721 12,988 13,225 8,890 9,836
Long Term Debt 5,059 2,781 3,277 1,314 1,154
Deferred Income Tax 1,580 877 1,890 608 352
Other Non-Current Liabilities 2,965 3,011 3,133 2,231 1,730
Minority Interest 547 390 - - -
Capital Lease Obligations - - - - -
Preferred Securities of Subsidiary Trust - - - - -
Preferred Equity Outside Shareholders' Equity - - - - -
Total Non-Current Liabilities 10,151 7,059 8,300 4,153 3,236
Total Liabilities 23,872 20,047 21,525 13,043 13,072
Preferred Shareholder's Equity - - - - -
Common Shareholder's Equity 24,799 20,472 21,744 16,920 16,355
Total Equity 24,799 20,472 21,744 16,920 16,355
Total Liabilities & Shareholder's Equity 48,671 40,519 43,269 29,963 29,427
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Income in Millions of Dollars
12/2009 12/2008 12/2007 12/2006 12/2005
Operating Revenue 30,990 31,944 28,857 24,088 23,104
Adjustments to Revenue - - - - -
Cost of Revenue (9,852) (10,146) (9,243) (7,226) (7,263)
Gross Operating Profit 21,138 21,798 19,614 16,862 15,841
Selling/General/Admin Expense (11,671) (12,124) (11,199) (9,616) (8,824)
Research & Development - - - - -
EBITDA 9,467 9,674 8,415 7,246 7,017
Depreciation & Amortization (1,236) (1,228) (1,163) (938) (932)
Operating Income 8,231 8,446 7,252 6,308 6,085
Interest Income 249 333 236 193 235
Other Income, Net 40 39 173 195 (93)
Total Income Avail For Interest Expense (EBIT) 9,301 7,944 8,329 6,798 6,930
Interest Expense (355) (438) (456) (220) (240)
Pre-Tax Income 8,946 7,506 7,873 6,578 6,690
Income Taxes (2,040) (1,632) (1,892) (1,498) (1,818)
Minority Interest (82) (67) - - -
Net Income from Continuing Operations 6,824 5,807 5,981 5,080 4,872
Net Income from Discontinued Operations - - - - -
Net Income from Total Operations 6,824 5,807 5,981 5,080 4,872
Normalized Income 6,824 5,807 5,981 5,080 4,849
Extraordinary Income - - - - -
Special Income/Charges - - - - 23
Income from Cum. Effect of Acct Change - - - - -
Income from Tax Loss Carryforward - - - - -
Other Gains - - - - -
Total Net Income 6,824 5,807 5,981 5,080 4,872
Results in Dollars (Preferred Dividends in Millions)
12/2009 12/2008 12/2007 12/2006 12/2005
Dividends Paid Per Share 1.64 1.52 1.36 1.24 1.12
Preferred Dividends - - - - -
Basic EPS from Continuing Operations 2.95 2.51 2.59 2.16 2.04
Basic EPS from Discontinued Operations 0.00 0.00 0.00 0.00 0.00
Basic EPS from Total Operations 2.95 2.51 2.59 2.16 2.04
Diluted EPS from Continuing Operations 2.93 2.49 2.57 2.16 2.04
Diluted EPS from Discontinued Operations 0.00 0.00 0.00 0.00 0.00
Diluted EPS from Total Operations 2.93 2.49 2.57 2.16 2.04
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Cash Flow in Millions of Dollars
12/2009 12/2008 12/2007 12/2006 12/2005
Net Income 6,906 5,874 5,981 5,080 4,872
Depreciation & Amortization 1,236 1,228 1,163 938 932
Deferred Income Taxes 353 (360) 109 (35) (88)
Operating Losses (207) 1,165 (422) 213 277
Extraordinary Losses - - - - -
Decrease in Receivables (404) 148 (406) (214) (79)
Decrease in Inventories (50) (165) (258) (150) (79)
Decrease in Other Current Assets - - - - -
Increase in Payables 319 (576) 762 173 280
Increase in Other Current Liabilities 81 (121) 185 (68) 64
Decrease in Other Working Capital (178) (104) (33) (204) -
Other Non-Cash Items 462 419 313 376 -
Net Cash from Continuing Operations 8,186 7,571 7,150 5,957 6,423
Net Cash from Discontinued Operations - - - - -
Cash from Operating Activities 8,186 7,571 7,150 5,957 6,423
Sale of Property, Plant, Equipment 104 129 239 112 88
Sale of Long Term Investments - - - - -
Sale of Short Term Investments - - - 640 33
Purchase of Property, Plant, Equipment (1,993) (1,968) (1,648) (1,407) (899)
Acquisitions (60) (280) (5,205) (901) (637)
Purchase of Long Term Investments (2,200) (244) (99) - -
Purchase of Short Term Investments - - - (82) (53)
Other Investment Changes, Net - - (6) (62) (28)
Cash from Investing Activities (4,149) (2,363) (6,719) (1,700) (1,496)
Issuance of Debt 14,689 4,337 9,979 617 178
Issuance of Capital Stock 662 586 1,619 148 230
Repayment of Debt (12,326) (4,308) (5,638) (2,021) (2,460)
Repurchase of Capital Stock (1,518) (1,079) (1,838) (2,416) (2,055)
Payment of Cash Dividends (3,800) (3,521) (3,149) (2,911) (2,678)
Other Financing Charges, Net - - - - -
Cash from Financing Activities (2,293) (3,985) 973 (6,583) (6,785)
Effect of Exchange Rate Changes 576 (615) 249 65 (148)
Net Change in Cash 2,320 608 1,653 (2,261) (2,006)
Cash at Beginning of Year 4,701 4,093 2,440 4,701 6,707
Cash at End of Period 7,021 4,701 4,093 2,440 4,701
12/2009 12/2008 12/2007 12/2006 12/2005
Cash and Equivalents 7,021 4,701 4,093 2,440 4,701
Restrictable Cash - - - - -
Marketable Securities 2,192 278 215 150 66
Receivables 3,758 3,090 3,317 2,587 2,281
Inventories 2,354 2,187 2,220 1,641 1,379
Prepaid Expenses 2,226 1,920 2,260 1,623 1,778
Current Deferred Income Taxes - - - - -
Other Current Assets - - - - -
Total Current Assets 17,551 12,176 12,105 8,441 10,205
Gross Fixed Assets 16,467 14,400 14,444 11,911 10,184
Accumulated Depreciation (6,906) (6,074) (5,951) (5,008) (4,353)
Net Fixed Assets 9,561 8,326 8,493 6,903 5,831
Intangibles 8,604 8,476 7,963 3,732 2,774
Cost in Excess 4,224 4,029 4,256 1,403 1,047
Non-Current Deferred Income Taxes - - - - -
Other Non-Current Assets 8,731 7,512 10,452 9,484 9,570
Total Non-Current Assets 31,120 28,343 31,164 21,522 19,222
Total Assets 48,671 40,519 43,269 29,963 29,427
Liabilities in Millions of Dollars
12/2009 12/2008 12/2007 12/2006 12/2005
Accounts Payable 1,410 1,370 1,380 929 4,493
Short Term Debt 51 465 6,052 33 4,546
Notes Payable 6,749 6,066 - 3,235 -
Accrued Expenses - - 5,535 4,126 -
Accrued Liabilities 5,247 4,835 258 567 797
Deferred Revenues - - - - -
Current Deferred Income Taxes - - - - -
Other Current Liabilities 264 252 - - -
Total Current Liabilities 13,721 12,988 13,225 8,890 9,836
Long Term Debt 5,059 2,781 3,277 1,314 1,154
Deferred Income Tax 1,580 877 1,890 608 352
Other Non-Current Liabilities 2,965 3,011 3,133 2,231 1,730
Minority Interest 547 390 - - -
Capital Lease Obligations - - - - -
Preferred Securities of Subsidiary Trust - - - - -
Preferred Equity Outside Shareholders' Equity - - - - -
Total Non-Current Liabilities 10,151 7,059 8,300 4,153 3,236
Total Liabilities 23,872 20,047 21,525 13,043 13,072
Preferred Shareholder's Equity - - - - -
Common Shareholder's Equity 24,799 20,472 21,744 16,920 16,355
Total Equity 24,799 20,472 21,744 16,920 16,355
Total Liabilities & Shareholder's Equity 48,671 40,519 43,269 29,963 29,427
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Income in Millions of Dollars
12/2009 12/2008 12/2007 12/2006 12/2005
Operating Revenue 30,990 31,944 28,857 24,088 23,104
Adjustments to Revenue - - - - -
Cost of Revenue (9,852) (10,146) (9,243) (7,226) (7,263)
Gross Operating Profit 21,138 21,798 19,614 16,862 15,841
Selling/General/Admin Expense (11,671) (12,124) (11,199) (9,616) (8,824)
Research & Development - - - - -
EBITDA 9,467 9,674 8,415 7,246 7,017
Depreciation & Amortization (1,236) (1,228) (1,163) (938) (932)
Operating Income 8,231 8,446 7,252 6,308 6,085
Interest Income 249 333 236 193 235
Other Income, Net 40 39 173 195 (93)
Total Income Avail For Interest Expense (EBIT) 9,301 7,944 8,329 6,798 6,930
Interest Expense (355) (438) (456) (220) (240)
Pre-Tax Income 8,946 7,506 7,873 6,578 6,690
Income Taxes (2,040) (1,632) (1,892) (1,498) (1,818)
Minority Interest (82) (67) - - -
Net Income from Continuing Operations 6,824 5,807 5,981 5,080 4,872
Net Income from Discontinued Operations - - - - -
Net Income from Total Operations 6,824 5,807 5,981 5,080 4,872
Normalized Income 6,824 5,807 5,981 5,080 4,849
Extraordinary Income - - - - -
Special Income/Charges - - - - 23
Income from Cum. Effect of Acct Change - - - - -
Income from Tax Loss Carryforward - - - - -
Other Gains - - - - -
Total Net Income 6,824 5,807 5,981 5,080 4,872
Results in Dollars (Preferred Dividends in Millions)
12/2009 12/2008 12/2007 12/2006 12/2005
Dividends Paid Per Share 1.64 1.52 1.36 1.24 1.12
Preferred Dividends - - - - -
Basic EPS from Continuing Operations 2.95 2.51 2.59 2.16 2.04
Basic EPS from Discontinued Operations 0.00 0.00 0.00 0.00 0.00
Basic EPS from Total Operations 2.95 2.51 2.59 2.16 2.04
Diluted EPS from Continuing Operations 2.93 2.49 2.57 2.16 2.04
Diluted EPS from Discontinued Operations 0.00 0.00 0.00 0.00 0.00
Diluted EPS from Total Operations 2.93 2.49 2.57 2.16 2.04
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Cash Flow in Millions of Dollars
12/2009 12/2008 12/2007 12/2006 12/2005
Net Income 6,906 5,874 5,981 5,080 4,872
Depreciation & Amortization 1,236 1,228 1,163 938 932
Deferred Income Taxes 353 (360) 109 (35) (88)
Operating Losses (207) 1,165 (422) 213 277
Extraordinary Losses - - - - -
Decrease in Receivables (404) 148 (406) (214) (79)
Decrease in Inventories (50) (165) (258) (150) (79)
Decrease in Other Current Assets - - - - -
Increase in Payables 319 (576) 762 173 280
Increase in Other Current Liabilities 81 (121) 185 (68) 64
Decrease in Other Working Capital (178) (104) (33) (204) -
Other Non-Cash Items 462 419 313 376 -
Net Cash from Continuing Operations 8,186 7,571 7,150 5,957 6,423
Net Cash from Discontinued Operations - - - - -
Cash from Operating Activities 8,186 7,571 7,150 5,957 6,423
Sale of Property, Plant, Equipment 104 129 239 112 88
Sale of Long Term Investments - - - - -
Sale of Short Term Investments - - - 640 33
Purchase of Property, Plant, Equipment (1,993) (1,968) (1,648) (1,407) (899)
Acquisitions (60) (280) (5,205) (901) (637)
Purchase of Long Term Investments (2,200) (244) (99) - -
Purchase of Short Term Investments - - - (82) (53)
Other Investment Changes, Net - - (6) (62) (28)
Cash from Investing Activities (4,149) (2,363) (6,719) (1,700) (1,496)
Issuance of Debt 14,689 4,337 9,979 617 178
Issuance of Capital Stock 662 586 1,619 148 230
Repayment of Debt (12,326) (4,308) (5,638) (2,021) (2,460)
Repurchase of Capital Stock (1,518) (1,079) (1,838) (2,416) (2,055)
Payment of Cash Dividends (3,800) (3,521) (3,149) (2,911) (2,678)
Other Financing Charges, Net - - - - -
Cash from Financing Activities (2,293) (3,985) 973 (6,583) (6,785)
Effect of Exchange Rate Changes 576 (615) 249 65 (148)
Net Change in Cash 2,320 608 1,653 (2,261) (2,006)
Cash at Beginning of Year 4,701 4,093 2,440 4,701 6,707
Cash at End of Period 7,021 4,701 4,093 2,440 4,701
