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Company Analysis - Polyus Gold International Ltd - US73180Y2037 - PLGL LI Equity

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Company Analysis - Polyus Gold International Ltd - US73180Y2037 - PLGL LI Equity
8
15.05.2012 Ticker: Polyus Gold International Ltd Benchmark: Currency: London Intl: PLGL, Currency: USD FTSE 100 INDEX (UKX) Sector: Materials Industry: Metals & Mining Year: Telephone 44-0-208-528-10-20 Revenue (M) Business Segments in USD Sales (M) Geographic Segments in USD Sales (M) Website www.polyusgold.com No of Employees Gold Mining 2403 Kazakhstan 2403 Address 88 Wood Street London, EC2V 7RS United Kingdom Share Price Performance in USD Price 2.75 1M Return -8.3% 52 Week High 3.80 6M Return -15.4% 52 Week Low 2.00 52 Wk Return #VALUE! 52 Wk Beta 0.21 YTD Return -8.3% Credit Ratings Bloomberg - S&P - Date - Outlook - Moody’s - Date - Outlook - Fitch WD Date 04.12.2009 Outlook - Valuation Ratios 12/08 12/09 12/10 12/11 12/12E 12/13E 12/14E P/E - - - - 9.2x 8.3x 9.4x EV/EBIT - - 0.7x 9.2x - - - EV/EBITDA - - 0.5x 7.7x - - - P/S - - - - 2.9x 2.6x 2.5x P/B - - - - 2.1x 1.8x 1.6x Div Yield - - - - 1.9% 2.4% 2.3% Profitability Ratios % 12/08 12/09 12/10 12/11 12/12E 12/13E 12/14E Gross Margin -31.4 0.4 46.9 49.7 51.8 50.2 48.7 EBITDA Margin -406.9 -87.1 40.9 47.0 50.2 50.3 44.9 Operating Margin -444.0 -116.4 33.6 39.2 44.2 43.6 36.0 Profit Margin -473.7 -236.7 19.0 19.5 31.4 31.5 26.0 Return on Assets -30.0 -54.2 15.7 11.4 17.0 15.6 11.8 Return on Equity - - - 16.2 24.7 22.8 20.1 Leverage and Coverage Ratios 12/08 12/09 12/10 12/11 Current Ratio 0.5 0.1 3.0 1.6 Current Capitalization in USD Quick Ratio 0.2 0.0 0.8 0.7 Common Shares Outstanding (M) #N/A Field Not Applicable EBIT/Interest -9.5 -2.2 13.8 13.2 Market Capitalization (M) 8338.4 Tot Debt/Capital 1.1 1.8 0.1 0.2 Cash and ST Investments (M) 657.4 Tot Debt/Equity - - 0.1 0.3 Total Debt (M) 798.7 Eff Tax Rate % - - 25.9 27.1 Preferred Equity (M) 0.0 LT Investments in Affiliate Companies (M) 0.0 Investments (M) 235.3 Enterprise Value (M) 8715.0 Polyus Gold International Ltd is a gold mining company. The Company operates mines and development/exploration projects located in gold mining regions of Russia - the Krasnoyarsk Territory, the Irkutsk, Magadan, Amur regions, the Republic of Sakha (Yakutia), as well as in the Republic of Kazakhstan, Romania and Kyrgyzstan. PLGL LI 2’403 #N/A N/A Company Analysis - Overview 100% Gold Mining 100% Kazakhstan Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Transcript
Page 1: Company Analysis - Polyus Gold International Ltd - US73180Y2037 - PLGL LI Equity

15.05.2012

Ticker: Polyus Gold International Ltd Benchmark:

Currency: London Intl: PLGL, Currency: USD FTSE 100 INDEX (UKX)

Sector: Materials Industry: Metals & Mining Year:

Telephone 44-0-208-528-10-20 Revenue (M) Business Segments in USD Sales (M) Geographic Segments in USD Sales (M)Website www.polyusgold.com No of Employees Gold Mining 2403 Kazakhstan 2403Address 88 Wood Street London, EC2V 7RS United KingdomShare Price Performance in USDPrice 2.75 1M Return -8.3%52 Week High 3.80 6M Return -15.4%52 Week Low 2.00 52 Wk Return #VALUE!52 Wk Beta 0.21 YTD Return -8.3%Credit Ratings

Bloomberg -S&P - Date - Outlook -Moody's - Date - Outlook -Fitch WD Date 04.12.2009 Outlook -

Valuation Ratios

12/08 12/09 12/10 12/11 12/12E 12/13E 12/14EP/E - - - - 9.2x 8.3x 9.4xEV/EBIT - - 0.7x 9.2x - - -EV/EBITDA - - 0.5x 7.7x - - -P/S - - - - 2.9x 2.6x 2.5xP/B - - - - 2.1x 1.8x 1.6xDiv Yield - - - - 1.9% 2.4% 2.3%Profitability Ratios %

12/08 12/09 12/10 12/11 12/12E 12/13E 12/14EGross Margin -31.4 0.4 46.9 49.7 51.8 50.2 48.7EBITDA Margin -406.9 -87.1 40.9 47.0 50.2 50.3 44.9Operating Margin -444.0 -116.4 33.6 39.2 44.2 43.6 36.0Profit Margin -473.7 -236.7 19.0 19.5 31.4 31.5 26.0Return on Assets -30.0 -54.2 15.7 11.4 17.0 15.6 11.8Return on Equity - - - 16.2 24.7 22.8 20.1Leverage and Coverage Ratios

12/08 12/09 12/10 12/11Current Ratio 0.5 0.1 3.0 1.6 Current Capitalization in USDQuick Ratio 0.2 0.0 0.8 0.7 Common Shares Outstanding (M) #N/A Field Not ApplicableEBIT/Interest -9.5 -2.2 13.8 13.2 Market Capitalization (M) 8338.4Tot Debt/Capital 1.1 1.8 0.1 0.2 Cash and ST Investments (M) 657.4Tot Debt/Equity - - 0.1 0.3 Total Debt (M) 798.7Eff Tax Rate % - - 25.9 27.1 Preferred Equity (M) 0.0

LT Investments in Affiliate Companies (M) 0.0Investments (M) 235.3Enterprise Value (M) 8715.0

Polyus Gold International Ltd is a gold mining company. The Company operates mines and development/exploration projects located in gold mining regions of Russia - the Krasnoyarsk Territory, the Irkutsk, Magadan, Amur regions, the Republic of Sakha (Yakutia), as well as in the Republic of Kazakhstan, Romania and Kyrgyzstan.

PLGL LI

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Company Analysis - Overview

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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |

Page 2: Company Analysis - Polyus Gold International Ltd - US73180Y2037 - PLGL LI Equity

Polyus Gold International LtdTarget price in USD

Date Buy Hold Sell Date Price Target Price Broker Analyst Recommendation Target Date0-!7mn!./ 35 /3 2 .2!JWu!./ /#42 1#-. RnWiofX AJFPNV OJLIFK elia 0#3- 1!JWu!./0-!JWn!./ 30 0/ 2 .1!JWu!./ /#43 1#-. OlYfbpb DbkbnWib OBNDBV ALKOHLV Xru 0#6- 0!JWu!.//6!CbX!./ 35 /3 2 ..!JWu!./ /#5- 1#-. AbrpoYeb 8Wkh BNFH A7KBJ7N Xru 0#52 /!JWu!./0.!GWk!./ 34 /5 3 .-!JWu!./ /#6- 0#66 Lphnfpfb 9WmfpWi NL8BNP J7KPOB Xru 1#0- /!JWu!./0-!AbY!.. 4. /1 3 6!JWu!./ /#54 0#66 NbkWfooWkYb 9WmfpWi 7KAV GLKBO Xru 0#61 .!JWu!./0-!Kls!.. 4. /1 3 5!JWu!./ /#54 0#66 9nbafp Orfoob OBJVLK JFNLKLS lrpmbnclnj 1#5- .5!7mn!./0.!LYp!.. 34 00 - 4!JWu!./ /#60 0#66 8JL 9WmfpWi JWnhbpo A7SFA E7RDEPLK jWnhbp mbnclnj 1#-- .4!7mn!./0-!Obm!.. 4. /6 - 1!JWu!./ /#60 0#66 SP8 9WmfpWi 7IBU7KABN MRHE7BS Xru 2#.- .4!7mn!./0.!7rd!.. 34 00 - 0!JWu!./ /#64 0#66 FKD TeliboWib 8Wkhfkd J7UFJ J7PSBBS elia 0#0- /!7mn!.//6!Gri!.. .-- - - /!JWu!./ 0#-. 1#-/ CfkWj Fksbopjbkp SI7AFJFN OBNDFBSOHFV elia 0#0- /3!JWn!./0-!Grk!.. #S7IRB! #S7IRB! #S7IRB! .!JWu!./ 0#-3 1#-/ GMJlndWk VRNFV 7 SI7OLS lsbntbfdep 1#-- /4!CbX!./0.!JWu!.. #S7IRB! #S7IRB! #S7IRB! 0-!7mn!./ 0#.- 1#-/ PnlfhW AfWild JFHE7FI OPFOHFK elia 0#46 .-!CbX!./

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Company Analysis - Analysts Ratings

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Page 3: Company Analysis - Polyus Gold International Ltd - US73180Y2037 - PLGL LI Equity

Polyus Gold International Ltd

Ownership Statistics Geographic Ownership Distribution

Shares Outstanding (M) #N/A Field Not Applicable Others 100.00%

Float 0.00%

Short Interest (M) 0.00%

Short Interest as % of Float 0.00%

Days to Cover Shorts 0.00%

Institutional Ownership 0.00%

Retail Ownership 0.00%

Insider Ownership Others 0.00%

Institutional Ownership DistributionOthers 100.00%

0.00%0.00%0.00%

Pricing data is in USD Others 0.00%

Top 20 Owners:

Holder Name Position Position Change Market Value % of Ownership Report Date Source Country

KERIMOV SULEIMAN A 1'218'924'261 0 3'352'041'718 40.20% 31.12.2011 Co File n/aPROKHOROV MIKHAIL DM 1'146'152'663 0 3'151'919'823 37.80% 31.12.2011 Co File n/aJENINGTON INTERNATIO 227'411'243 0 625'380'918 7.50% 31.12.2011 Co File n/aNUVEEN ASSET MANAGEM 54'075'988 -1'513'065 148'708'967 1.78% 31.03.2012 MF-AGG UNITED STATESBLACKROCK GROUP LIMI 39'088'851 0 107'494'340 1.29% 31.01.2012 MF-AGG BRITAINBLACKROCK INVESTMENT 29'200'843 23'035'847 80'302'318 0.96% 31.01.2012 MF-AGG UNITED STATESING INVESTMENT MANAG 9'796'520 0 26'940'430 0.32% 31.03.2012 MF-AGG UNITED STATESFIDELITY MANAGEMENT 6'973'190 -60'000 19'176'273 0.23% 31.03.2012 MF-AGG UNITED STATESVAN ECK ASSOCIATES C 6'947'032 -15'426 19'104'338 0.23% 11.05.2012 MF-AGG UNITED STATESFRANK RUSSELL TRUST 2'326'963 0 6'399'148 0.08% 31.03.2012 MF-AGG UNITED STATESBLACKROCK JAPAN CO L 2'193'919 0 6'033'277 0.07% 27.01.2012 MF-AGG JAPANJPMORGAN ASSET MANAG 1'981'400 0 5'448'850 0.07% 31.12.2011 MF-AGG BRITAINNORTHERN TRUST COMPA 1'590'357 1'182'546 4'373'482 0.05% 31.12.2011 13F UNITED STATESNORTHERN TRUST CORPO 1'121'436 -468'921 3'083'949 0.04% 31.03.2012 MF-AGG UNITED STATESQUANTEX AG 740'120 -240'000 2'035'330 0.02% 30.03.2012 MF-AGG SWITZERLANDDOCTORS CO AN INTERI 617'288 -50'305 1'697'542 0.02% 31.12.2011 Sch-D UNITED STATESBLACKROCK ADVISERS 545'279 -61'477 1'499'517 0.02% 31.12.2011 MF-AGG UNITED STATESSEI INVESTMENT MANAG 493'318 0 1'356'625 0.02% 30.04.2012 MF-AGG UNITED STATESTHAMES RIVER CAPITAL 474'038 474'038 1'303'605 0.02% 29.02.2012 MF-AGG BRITAINUBS FUND MANAGEMENT 445'883 0 1'226'178 0.01% 31.01.2012 MF-AGG SWITZERLAND

Top 5 Insiders:

Holder Name Position Position Change Market Value % of Ownership Report Date Source

GILLFORD PATRICK JAMES 2'656 7'304 0.00% 31.12.2011 Co File

Company Analysis - Ownership

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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |

Page 4: Company Analysis - Polyus Gold International Ltd - US73180Y2037 - PLGL LI Equity

Polyus Gold International LtdFinancial information is in USD (M)

Periodicity: 12/01 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12E 12/13E 12/14E

Income Statement

Revenue 10 8 109 177 54 60 1'749 2'403 2'862 3'188 3'384

- Cost of Goods Sold 8 7 55 88 71 60 929 1'208

Gross Income 3 2 55 89 -17 0 820 1'194 1'483 1'600 1'649

- Selling, General & Admin Expenses 1 2 18 27 224 71 232 252

(Research & Dev Costs) 0 0 0 0 2 3

Operating Income 2 1 39 62 -241 -70 588 942 1'266 1'389 1'220

- Interest Expense 1 2 6 17 25 32 43 71

- Foreign Exchange Losses (Gains) -1 -1 1 5 -0 46 -1 6

- Net Non-Operating Losses (Gains) 0 -0 1 -11 1 2 64 100

Pretax Income 1 0 31 51 -267 -150 481 765 1'219 1'345 1'216

- Income Tax Expense 0 0 12 32 -10 -6 125 207

Income Before XO Items 0 0 19 19 -257 -144 356 558

- Extraordinary Loss Net of Tax 0 0 0 0 0 0 0 0

- Minority Interests 0 0 0 0 0 -1 24 89

Diluted EPS Before XO Items

Net Income Adjusted* 19 19 139 -143 -56 900 1'004 879

EPS Adjusted 0.30 0.33 0.29

Dividends Per Share 0.05 0.07 0.06

Payout Ratio % 0.0 0.0 0.0 0.0 0.17 0.20 0.21

Total Shares Outstanding

Diluted Shares Outstanding

EBITDA 2 1 48 74 -221 -53 715 1'130 1'437 1'605 1'518

*Net income excludes extraordinary gains and losses and one-time charges.

Equivalent Estimates

Company Analysis - Financials I/IV

Fiscal Year

Page 5: Company Analysis - Polyus Gold International Ltd - US73180Y2037 - PLGL LI Equity

Periodicity: 12/01 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12E 12/13E 12/14E

Balance Sheet

Total Current Assets 5.91223038 11 320 302 41 26 1189 1487

+ Cash & Near Cash Items 0 1 205 160 14 4 327 657

+ Short Term Investments 32 0 0 0 0

+ Accounts & Notes Receivable 3 2 71 35 1 1 4 5

+ Inventories 3 2 22 24 18 14 455 543

+ Other Current Assets 1 6 23 50 9 7 403 281

Total Long-Term Assets 18 41 904 1'111 260 200 2'815 2'732

+ Long Term Investments 5 3 0 0 0 0 50 4

Gross Fixed Assets 15 36 93 1'082 296 217 2'739 2'902

Accumulated Depreciation 2 5 8 26 37 20 680 846

+ Net Fixed Assets 13 31 85 1'056 258 197 2'059 2'056

+ Other Long Term Assets 0 7 819 55 2 3 706 672

Total Current Liabilities 4 6 55 78 87 303 395 911

+ Accounts Payable 1 1 35 18 15 2 39 31

+ Short Term Borrowings 0 2 2 6 42 258 174 676

+ Other Short Term Liabilities 3 3 19 54 31 44 182 204

Total Long Term Liabilities 10 27 514 552 236 50 369 478

+ Long Term Borrowings 10 24 218 232 205 21 30 123

+ Other Long Term Borrowings 0 4 297 320 31 29 339 355

Total Liabilities 14 33 570 630 323 353 764 1'388

+ Long Preferred Equity 0 0 0 0 0 0

+ Minority Interest 0 0 0 0 0 0 57 235

+ Share Capital & APIC 11 12 608 681 234 234 2'088 2'190

+ Retained Earnings & Other Equity -1 7 47 102 -255 -361 1'095 406

Total Shareholders Equity 10 19 655 782 -21 -127 3'241 2'831

Total Liabilities & Equity 24 52 1'224 1'413 302 226 4'004 4'219

Book Value Per Share 1.28 1.53 1.69

Tangible Book Value Per Share

Company Analysis - Financials II/IV

Page 6: Company Analysis - Polyus Gold International Ltd - US73180Y2037 - PLGL LI Equity

Periodicity: 12/01 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12E 12/13E 12/14E

Cash Flows

Net Income 1 0 19 19 -257 -143 332 469 837 892 891

+ Depreciation & Amortization 1 1 9 13 20 18 127 188

+ Other Non-Cash Adjustments 0 -1 15 31 20 79 176 253

+ Changes in Non-Cash Capital -3 -4 -55 3 39 -2 -189 -145

Cash From Operating Activities -1 -4 -12 65 -178 -49 445 765

+ Disposal of Fixed Assets 0 0 0 1 3 0 1 2

+ Capital Expenditures -1 -10 -40 -81 -64 -7 -350 -343 -1'074 -1'242 -763

+ Increase in Investments 0 0 0 -29 0 0 -65 -38

+ Decrease in Investments 0 0 1 0 0 245 121

+ Other Investing Activities 0 1 -1 -1 32 0 -1 -3

Cash From Investing Activities -1 -9 -39 -110 -29 -7 -171 -260

+ Dividends Paid 0 0 0 0 0 0 -105 -73

+ Change in Short Term Borrowings 0 0 0 0 0 0 -11 0

+ Increase in Long Term Borrowings 10 22 196 7 23 91 0 560

+ Decrease in Long Term Borrowings -9 -9 -28 -7 -15 -44 0 0

+ Increase in Capital Stocks 0 0 0 50 0 22 0

+ Decrease in Capital Stocks 0 0 0 0 0 0 0

+ Other Financing Activities 0 0 0 3 -2 -27 -661

Cash From Financing Activities 2 13 168 -0 61 46 -121 -174

Net Changes in Cash -0 1 117 -44 -146 -10 154 331

Free Cash Flow (CFO-CAPEX) -2 -13 -52 -15 -242 -56 95 422

Free Cash Flow To Firm -1 -13 -49 -9 127 474

Free Cash Flow To Equity 0 -15 -231 -9

Free Cash Flow per Share

Company Analysis - Financials III/IV

Page 7: Company Analysis - Polyus Gold International Ltd - US73180Y2037 - PLGL LI Equity

Periodicity: 12/01 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12E 12/13E 12/14E

Ratio Analysis

Valuation Ratios

Price Earnings 9.2x 8.3x 9.4x

EV to EBIT 25.3x 21.8x 0.7x 9.2x

EV to EBITDA 20.4x 18.1x 0.5x 7.7x

Price to Sales 2.9x 2.6x 2.5x

Price to Book 2.1x 1.8x 1.6x

Dividend Yield 1.9% 2.4% 2.3%

Profitability Ratios

Gross Margin 26.9% 17.9% 50.0% 50.1% -31.4% 0.4% 46.9% 49.7% 51.8% 50.2% 48.7%

EBITDA Margin 23.7% 17.6% 43.8% 42.0% -406.9% -87.1% 40.9% 47.0% 50.2% 50.3% 44.9%

Operating Margin 16.3% 6.3% 35.5% 34.9% -444.0% -116.4% 33.6% 39.2% 44.2% 43.6% 36.0%

Profit Margin 2.5% 0.5% 17.2% 11.0% -473.7% -236.7% 19.0% 19.5% 31.4% 31.5% 26.0%

Return on Assets 0.1% 1.5% -30.0% -54.2% 15.7% 11.4% 17.0% 15.6% 11.8%

Return on Equity 0.3% 2.7% 16.2% 24.7% 22.8% 20.1%

Leverage & Coverage Ratios

Current Ratio 1.48 1.87 5.77 3.87 0.47 0.09 3.01 1.63

Quick Ratio 0.66 0.56 4.97 2.92 0.17 0.02 0.84 0.73

Interest Coverage Ratio (EBIT/I) 1.16 0.32 6.85 3.59 -9.53 -2.21 13.76 13.19

Tot Debt/Capital 0.52 0.57 0.25 0.23 1.09 1.84 0.06 0.22

Tot Debt/Equity 1.07 1.35 0.33 0.30 0.06 0.28

Others

Asset Turnover 0.23 0.13 0.06 0.23 0.83 0.58

Accounts Receivable Turnover 3.32 3.33 3.01 52.14 689.46 559.88

Accounts Payable Turnover 5.83 3.46 3.95 6.79 67.67 37.20

Inventory Turnover 3.03 3.83 3.39 3.78 3.96 2.42

Effective Tax Rate 64.6% 86.6% 39.7% 62.1% 25.9% 27.1%

Company Analysis - Financials IV/IV

Page 8: Company Analysis - Polyus Gold International Ltd - US73180Y2037 - PLGL LI Equity

POLYUS G-GDRORSU METALS

CORPKAZAKHMYS PLC

POLYUS GOLD OJSC

POLYMETAL

12/2011 12/2011 12/2011 12/2010 12/20103.80 0.26 1'414.00 2'022.80 647.00

24.08.2011 01.02.2012 07.07.2011 03.06.2011 06.02.20122.00 0.10 700.00 856.00 440.00

12.08.2011 23.12.2011 04.10.2011 06.12.2011 16.05.2011132'132 57'200 112'973 4'276 3'060

2.75 0.12 744.50 1'015.20 518.20

-27.6% -55.8% -47.3% -49.8% -19.9%37.5% 21.1% 6.4% 18.6% 17.8%

- 157.7 535.4 190.6 361.48'338 18 3'899 193'525 206'956

798.7 - 1'893.0 6'212.3 21'093.2 - - - - -

235.3 (0.3) 7.0 1'737.0 - 657.4 10.3 1'912.0 15'396.9 337.6

- 3.5 6'263.9 186'077.7 233'501.4

LFY 2'402.7 0.0 3'563.0 53'108.9 28'102.4LTM 2'402.7 - 3'563.0 60'115.8 31'068.6

CY+1 2'862.1 - 3'592.0 65'880.1 40'564.1 CY+2 3'188.1 12.0 3'561.1 76'138.1 54'771.5

LFY 3.6x #DIV/0! 2.2x 6.7x 7.9xLTM 3.6x - 2.2x 6.7x 7.6x

CY+1 2.9x - 1.9x - 5.7xCY+2 2.7x 7.6x 2.1x - 4.0x

LFY 1'130.0 (10.7) 1'440.0 20'464.1 12'259.5LTM - (8.5) 1'501.0 20'464.1 14'295.1

CY+1 1'436.6 (6.2) 1'612.1 33'363.3 19'493.8 CY+2 1'604.8 0.8 1'558.9 - 25'723.4

LFY 7.7x -0.2x 5.3x 17.5x 18.2xLTM - - 5.1x 17.4x 16.6x

CY+1 5.8x - 4.3x - 11.8xCY+2 5.4x 117.7x 4.7x - 8.5x

LFY - -0.06 2.79 - -LTM - -0.07 2.63 64.94 25.16

CY+1 0.30 (0.05) 2.33 77.36 35.14 CY+2 0.33 (0.03) 2.34 56.56 45.41

LFY - - 4.6x 15.6x 20.6xLTM - - 4.3x - -

CY+1 9.2x - 5.1x 13.1x 14.7xCY+2 8.3x - 5.1x 17.9x 11.4x

1 Year 37.4% - 10.1% 42.7% 65.0%5 Year - - 20.2% 28.0% -1 Year 58.1% (42.6%) 2.6% 26.2% 70.8%5 Year - - (9.1%) 30.9% 34.3%

LTM 47.0% - 40.4% 38.5% 43.6%CY+1 50.2% - 44.9% 50.6% 48.1%CY+2 50.3% 6.4% 43.8% - 47.0%

Total Debt / Equity % 30.8% 0.0% 21.5% 6.4% 56.6% FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSETotal Debt / Capital % 22.0% 0.0% 17.7% 5.9% 36.1% FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSETotal Debt / EBITDA 0.707x 0.000x 1.315x 0.302x 1.711x FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSENet Debt / EBITDA 0.125x - -0.013x -0.446x 1.684x FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSEEBITDA / Int. Expense 15.826x - 10.511x 20.857x 24.629x FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE

S&P LT Credit Rating - - - - - FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSES&P LT Credit Rating Date - - - - - FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSEMoody's LT Credit Rating - - - - - FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSEMoody's LT Credit Rating Date - - - - - FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE FALSE

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 (5/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


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