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19.09.2011
AGL Energy Limited sells and distributes gas and electricity. The Company
retails and wholesales energy and fuel products to customers throughoutAustralia.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (25.10.2010) 16.9252-Week Low (09.08.2011) 12.50Daily Volume
EBITDA 1'008.50 Long-Term Rating Date 20.10.2006EBIT 860.50 Long-Term Rating BBBOperating Margin 12.17% Long-Term Outlook STABLEPretax Margin 11.22% Short-Term Rating Date -Return on Assets 6.08% Short-Term Rating -Return on Common Equity 9.20%Return on Capital 8.45% EBITDA/Interest Exp. 13.43Asset Turnover 0.77% (EBITDA-Capex)/Interest Exp. 6.44
Net Debt/EBITDA 0.41Gross Margin 19.3% Total Debt/EBITDA 1.16EBITDA Margin 14.3%EBIT Margin 12.2% Total Debt/Equity 18.5%Net Income Margin 7.9% Total Debt/Capital 15.6%
Asset Turnover 0.77Current Ratio 1.11 Net Fixed Asset Turnover 2.76Quick Ratio 0.82 Accounts receivable turnover-days 45.80Debt to Assets 12.08% Inventory Days 7.09Tot Debt to Common Equity 18.47% Accounts Payable Turnover Day 54.23Accounts Receivable Turnover 7.97 Cash Conversion Cycle -1.34Inventory Turnover 51.50
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
AGL Energy LtdPrice/Volume
Valuation Analysis
1'456'704.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 4'468'857 0.98 1'099 03.02.2011 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 4'287'000 0.94 - 30.06.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 3'638'353 0.79 29'623 31.12.2010 Investment AdvisorAMP LIFE LTD n/a Co File 3'555'155 0.78 - 11.08.2010 Investment AdvisorBOND STREET CUSTODIA n/a Co File 3'338'224 0.73 - 11.08.2010 OtherARGO INVESTMENTS LTD n/a Co File 2'453'787 0.54 - 11.08.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'334'801 0.51 79'907 31.12.2010 Mutual Fund ManagerQUESTOR FINANCIAL SE n/a Co File 2'152'620 0.47 - 11.08.2010 Private EquityCUSTODIAL SERVICES L n/a Co File 2'033'213 0.44 - 11.08.2010 OtherBT PORTFOLIO SERVICE n/a Co File 1'955'463 0.43 - 11.08.2010 n/aAVANTEOS INVESTMENTS n/a Co File 1'862'110 0.41 - 11.08.2010 n/aABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 1'551'485 0.34 53'445 31.12.2010 Investment AdvisorPERPETUAL TRUSTEE CO n/a Co File 1'534'436 0.33 - 11.08.2010 n/aCOHEN & STEERS CAPIT Multiple Portfolios MF-AGG 1'515'100 0.33 (5'000) 30.09.2010 Investment AdvisorINVIA CUSTODIAN PTY n/a Co File 1'383'658 0.3 - 11.08.2010 Investment AdvisorMILTON CORP LTD n/a Co File 1'368'500 0.3 - 11.08.2010 Investment AdvisorGWYNVILL INVEST PTY n/a Co File 1'263'150 0.28 - 11.08.2010 n/aHEXAVEST INC HEXAVEST INC 13F 678'894 0.15 361'719 30.09.2010 Hedge Fund ManagerMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 566'911 0.12 99'971 31.12.2010 Mutual Fund ManagerFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 556'142 0.12 635 31.12.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie IAN MYLES neutral 3 M 16 12 month 08.02.2011Deutsche Bank JOHN HIRJEE buy 5 M 17 12 month 07.02.2011Morgan Stanley MARK BLACKWELL Equalwt/In-Line 3 M 15 12 month 07.02.2011Credit Suisse SANDRA MCCULLAGH underperform 1 M 16 Not Provided 07.02.2011UBS DAVID LEITCH buy 5 M 17 12 month 07.02.2011JPMorgan JASON HARLEY STEED overweight 5 M 17 12 month 07.02.2011Goldman Sachs & Partners Australia AIDEN BRADLEY buy 5 M 17 Not Provided 07.02.2011Nomura DAVID FRASER buy 5 M 18 Not Provided 07.02.2011E.L. & C. Baillieu IVOR RIES buy 5 U 16 12 month 07.02.2011Daiwa Securities Capital Markets Co. DAVID BRENNAN outperform 5 M 16 Not Provided 16.12.2010Commonwealth Bank PAUL JOHNSTON hold 3 U 16 12 month 07.12.2010RBS JASON MABEE buy 5 M 17 12 month 26.08.2010Citi MARIE MIYASHIRO buy 5 U 17 Not Provided 22.03.2010
Shares Out 30.06.2011 2'440.2 Short Int 24.623'648.09 1 Yr Total Return -18.86%
Total Debt 463.90 YTD Return -37.83%Preferred Stock 0.0 Adjusted BETA 1.382Minority Interest 0.0 Analyst Recs 16Cash and Equivalents 112.10 Consensus Rating 4.188Enterprise Value 4'155.90
Average Volume 5 Day 16'294'630AWC AT EQUITY YTD Change - Average Volume 30 Day 20'229'520AWC AT EQUITY YTD % CHANGE - Average Volume 3 Month 17'507'620
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs & Partners Australia IAN PRESTON hold 3 M 3 Not Provided 02.02.2011HSBC DANIEL KANG neutral 3 M 3 Not Provided 24.01.2011BMO Capital Markets TONY ROBSON market perform 3 M 3 Not Provided 21.01.2011Macquarie LEE BOWERS neutral 3 M 3 12 month 18.01.2011Morgan Stanley CRAIG CAMPBELL Overwt/Attractive 5 M 3 12 month 17.01.2011Credit Suisse PAUL MCTAGGART neutral 3 D 3 Not Provided 12.01.2011Commonwealth Bank ANDREW KNUCKEY buy 5 M 3 12 month 12.01.2011RBS LYNDON FAGAN hold 3 D 3 12 month 11.01.2011Deutsche Bank PAUL-D YOUNG hold 3 M 3 12 month 11.01.2011UBS GLYN LAWCOCK buy 5 M 3 12 month 11.01.2011JPMorgan FRASER JAMIESON overweight 5 M 3 12 month 06.01.2011E.L. & C. Baillieu RAY CHANTRY accumulate 4 M 3 12 month 10.12.2010Citi CLARKE WILKINS sell 1 D 2 Not Provided 08.11.2010CLSA Asia Pacific Markets HAYDEN BAIRSTOW buy 5 M 2 Not Provided 29.10.2010Investec TIM GERRARD buy 5 U 2 12 month 20.10.2010
Amcor Limited is an international integrated packaging company offering
packaging and related services. Amcor primarily produces a wide range ofpackaging products which include corrugated boxes, cartons, aluminum and steelcans, flexible plastic packaging, PET plastic bottles and jars, and multi-wallsacks.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (07.04.2011) 7.4352-Week Low (09.08.2011) 5.87Daily Volume
EBITDA 1'299.20 Long-Term Rating Date 18.09.2009EBIT 788.20 Long-Term Rating BBBOperating Margin 6.35% Long-Term Outlook STABLEPretax Margin 4.43% Short-Term Rating Date 18.09.2009Return on Assets 3.24% Short-Term Rating A-2Return on Common Equity 9.20%Return on Capital 7.00% EBITDA/Interest Exp. 6.20Asset Turnover 1.13% (EBITDA-Capex)/Interest Exp. 3.22
Net Debt/EBITDA 2.48Gross Margin 17.1% Total Debt/EBITDA 2.65EBITDA Margin 10.5%EBIT Margin 6.4% Total Debt/Equity 93.3%Net Income Margin 2.9% Total Debt/Capital 47.9%
Asset Turnover 1.13Current Ratio 1.09 Net Fixed Asset Turnover 2.67Quick Ratio 0.48 Accounts receivable turnover-days 42.68Debt to Assets 31.51% Inventory Days 54.15Tot Debt to Common Equity 93.34% Accounts Payable Turnover Day 62.33Accounts Receivable Turnover 8.55 Cash Conversion Cycle 34.51Inventory Turnover 6.74
Fiscal Year Ended
Amcor Ltd/AustraliaPrice/Volume
Valuation Analysis
3'659'395.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie JOHN PURTELL outperform 5 M 7 12 month 07.02.2011Deutsche Bank MARK WILSON buy 5 M 8 12 month 04.02.2011Nomura RICHARD J JOHNSON neutral 3 D 7 Not Provided 02.02.2011CLSA Asia Pacific Markets SCOTT HUDSON buy 5 M 8 Not Provided 02.02.2011Citi ANDREW BOWLEY buy 5 U 8 Not Provided 13.01.2011Credit Suisse ROHAN GALLAGHER neutral 3 M 7 Not Provided 22.10.2010JPMorgan KEITH CHAU overweight 5 M 8 6 month 21.10.2010Goldman Sachs & Partners Australia ANDREW GIBSON buy 5 M 8 Not Provided 21.10.2010Commonwealth Bank MICHAEL WARD buy 5 M 8 12 month 21.10.2010UBS SAM THEODORE neutral 3 M 7 12 month 01.10.2010
AMP Limited provides life insurance, superannuation, asset management products,
pensions, retirement planning and other diversified financial servicesthroughout Australia and New Zealand. The Company services individualcustomers, small businesses, corporations and associated superannuation funds.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (12.04.2011) 5.8252-Week Low (09.08.2011) 3.61Daily Volume
Shares Out 31.05.2011 2'811.7 Short Int 39.2911'162.42 1 Yr Total Return -16.62%
Total Debt 11'136.00 YTD Return -20.08%Preferred Stock 0.0 Adjusted BETA 1.120Minority Interest 60.0 Analyst Recs 12Cash and Equivalents 3'158.00 Consensus Rating 4.500Enterprise Value 18'057.42
Average Volume 5 Day 13'886'750AMP AT EQUITY YTD Change - Average Volume 30 Day 12'867'950AMP AT EQUITY YTD % CHANGE - Average Volume 3 Month 13'796'510
EBITDA - Long-Term Rating Date -EBIT - Long-Term Rating -Operating Margin 22.55% Long-Term Outlook -Pretax Margin 11.81% Short-Term Rating Date -Return on Assets 0.87% Short-Term Rating -Return on Common Equity 28.14%Return on Capital 9.83% EBITDA/Interest Exp. -Asset Turnover 0.08% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 379.0%Net Income Margin 10.4% Total Debt/Capital 78.8%
Asset Turnover 0.08Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 12.48% Inventory Days -Tot Debt to Common Equity 379.03% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
AMP LtdPrice/Volume
Valuation Analysis
6'931'005.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBS RICHARD COLES buy 5 U 6 12 month 03.02.2011Southern Cross LAFITANI SOTIRIOU buy 5 M 7 12 month 02.02.2011Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT hold 3 M 6 Not Provided 28.01.2011UBS JAMES COGHILL buy 5 M 6 12 month 25.01.2011Macquarie TONY JACKSON restricted #N/A N/A M #N/A N/A Not Provided 25.01.2011Credit Suisse JOHN HEAGERTY neutral 3 M 6 Not Provided 22.01.2011CLSA Asia Pacific Markets DANIEL TOOHEY outperform 5 M 6 Not Provided 17.01.2011Goldman Sachs & Partners Australia RYAN FISHER hold 3 M 6 Not Provided 07.01.2011JPMorgan SIDDHARTH PARAMESWARAN underweight 1 M 6 6 month 16.12.2010Deutsche Bank KIEREN CHIDGEY restricted #N/A N/A M #N/A N/A Not Provided 15.11.2010Citi NIGEL PITTAWAY buy 5 M 6 Not Provided 19.08.2010
Ansell Limited is a latex manufacturing company. The Company produces
industrial and service gloves, protective clothing, medical gloves and condomswith operations in Asia, North America and the United Kingdom. Ansell also isinvolved in the South Pacific Tires partnership with the Goodyear Tire andRubber Company.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (21.04.2011) 14.7052-Week Low (09.08.2011) 11.82Daily Volume
EBITDA 155.20 Long-Term Rating Date 09.11.2007EBIT 134.00 Long-Term Rating BBB-Operating Margin 10.99% Long-Term Outlook STABLEPretax Margin 11.04% Short-Term Rating Date 08.02.2005Return on Assets 9.76% Short-Term Rating NRReturn on Common Equity 18.67%Return on Capital 14.60% EBITDA/Interest Exp. 14.37Asset Turnover 0.97% (EBITDA-Capex)/Interest Exp. 10.24
Net Debt/EBITDA -0.07Gross Margin 38.9% Total Debt/EBITDA 1.47EBITDA Margin 12.7%EBIT Margin 11.0% Total Debt/Equity 34.3%Net Income Margin 10.1% Total Debt/Capital 25.1%
Asset Turnover 0.97Current Ratio 1.46 Net Fixed Asset Turnover 8.00Quick Ratio 0.95 Accounts receivable turnover-days 50.21Debt to Assets 18.70% Inventory Days 96.83Tot Debt to Common Equity 34.25% Accounts Payable Turnover Day 72.66Accounts Receivable Turnover 7.27 Cash Conversion Cycle 74.38Inventory Turnover 3.77
Fiscal Year Ended
Ansell LtdPrice/Volume
Valuation Analysis
802'002.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypePRUDENTIAL PLC Multiple Portfolios MF-AGG 21'800'000 16.38 450'000 30.09.2010 Investment AdvisorPERPETUAL LTD #N/A N/A EXCH 14'197'819 10.67 (1'421'661) 04.02.2011 Investment AdvisorBLACKROCK GROUP n/a Co File 9'203'625 6.92 - 31.07.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 7'956'073 5.98 1'323'168 03.08.2010 BankMAPLE-BROWN ABBOTT L n/a EXCH 6'563'295 4.93 (1'326'033) 14.05.2010 Investment AdvisorCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 3'950'000 2.97 (500'000) 30.06.2010 Investment AdvisorCAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 3'800'000 2.86 (150'000) 30.09.2010 Investment AdvisorHARRIS ASSOCIATES L HARRIS ASSOC LP 13F 3'598'100 2.7 3'217'045 31.12.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 1'380'435 1.04 (158'783) 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 1'027'921 0.77 (41'523) 31.12.2010 Mutual Fund ManagerVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 685'344 0.51 23'414 31.12.2010 Mutual Fund ManagerAXA ROSENBERG INTL Multiple Portfolios MF-AGG 590'500 0.44 2'600 30.09.2010 Investment AdvisorMASSACHUSETTS FINANC Multiple Portfolios MF-AGG 465'414 0.35 - 30.11.2010 Investment AdvisorLFP Multiple Portfolios MF-AGG 337'800 0.25 337'800 29.10.2010 Mutual Fund ManagerTRANSAMERICA INVESTM Multiple Portfolios MF-AGG 285'561 0.21 (39'613) 30.09.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 186'472 0.14 - 31.12.2010 Investment AdvisorJILLA RUSTOM F n/a Co File 182'476 0.14 - 30.06.2010 n/aGOLDMAN SACHS GROUP Multiple Portfolios MF-AGG 178'803 0.13 (7'108) 31.10.2010 Investment AdvisorGAM INTERNATIONAL MA Multiple Portfolios MF-AGG 170'670 0.13 - 31.10.2010 Investment AdvisorING INVESTMENT MANAG Multiple Portfolios MF-AGG 126'762 0.1 (18'486) 30.09.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley JAMES RUTLEDGE Overwt/Cautious 5 M 13 12 month 07.02.2011JPMorgan STEVEN D WHEEN overweight 5 N 15 12 month 03.02.2011Macquarie CRAIG COLLIE outperform 5 M 15 12 month 27.01.2011Deutsche Bank DAVID A LOW buy 5 M 15 12 month 25.01.2011Goldman Sachs & Partners Australia IAN ABBOTT hold 3 M 14 Not Provided 21.01.2011Citi ALEXANDER SMITH hold 3 M 14 Not Provided 20.01.2011RBS DEREK JELLINEK hold 3 M 13 12 month 19.01.2011UBS ANDREW GOODSALL sell 1 M 12 12 month 03.11.2010Austock Securities CRAIG STRANGER hold 3 M 14 Not Provided 24.08.2010Southern Cross STUART ROBERTS buy 5 M 15 12 month 23.08.2010Moelis & Company TODD W GUYOT sell 1 N 9 14 month 14.05.2009
EBITDA 432.65 Long-Term Rating Date -EBIT 332.30 Long-Term Rating -Operating Margin 31.66% Long-Term Outlook -Pretax Margin 13.79% Short-Term Rating Date -Return on Assets 2.08% Short-Term Rating -Return on Common Equity 7.09%Return on Capital 6.69% EBITDA/Interest Exp. 1.71Asset Turnover 0.20% (EBITDA-Capex)/Interest Exp. 0.80
Net Debt/EBITDA 6.46Gross Margin - Total Debt/EBITDA 6.68EBITDA Margin 41.2%EBIT Margin 31.7% Total Debt/Equity 173.3%Net Income Margin 10.3% Total Debt/Capital 63.4%
Asset Turnover 0.20Current Ratio 0.22 Net Fixed Asset Turnover 0.29Quick Ratio 0.18 Accounts receivable turnover-days 36.89Debt to Assets 53.25% Inventory Days -Tot Debt to Common Equity 173.33% Accounts Payable Turnover Day -Accounts Receivable Turnover 9.90 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
APA GroupPrice/Volume
Valuation Analysis
849'338.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypePETRONAS AUSTRALIA P n/a Co File 93'317'200 16.91 - 01.09.2010 Holding CompanyBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 9'000'000 1.63 1'000'000 30.11.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'352'993 0.43 195'215 31.12.2010 Mutual Fund ManagerBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'318'006 0.24 - 04.02.2011 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 1'239'867 0.22 28'866 31.12.2010 Mutual Fund ManagerMORGAN STANLEY & CO Multiple Portfolios MF-AGG 665'200 0.12 - 30.09.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 502'441 0.09 26'284 31.12.2010 Investment AdvisorBLEASEL LEONARD FRAN n/a EXCH 367'795 0.07 8'024 15.09.2010 n/aFRANK RUSSELL TRUST Multiple Portfolios MF-AGG 336'171 0.06 - 30.11.2010 Investment AdvisorSKANDIA INVESTMENT M Multiple Portfolios MF-AGG 217'941 0.04 (339'234) 30.11.2010 Mutual Fund ManagerUS BANCORP Multiple Portfolios MF-AGG 193'000 0.03 8'499 30.09.2010 Investment AdvisorUBS STRATEGY FUND MG Multiple Portfolios MF-AGG 191'706 0.03 - 29.10.2010 Investment AdvisorELLIOTT & PAGE LIMIT Multiple Portfolios MF-AGG 184'776 0.03 9'076 31.12.2010 Mutual Fund ManagerTHOMPSON SIEGEL & WA Multiple Portfolios MF-AGG 180'000 0.03 - 30.09.2010 Investment AdvisorMCCORMACK MICHAEL JO n/a EXCH 163'778 0.03 5'000 05.11.2010 n/aUBS AG Multiple Portfolios MF-AGG 154'000 0.03 - 12.07.2010 Investment AdvisorSMARTSHARES LIMITED Multiple Portfolios MF-AGG 149'372 0.03 149'372 31.03.2010 Investment AdvisorPRINCIPAL LIFE INSUR PRINCIPAL LIFE INSUR Sch-D 148'771 0.03 7'855 30.06.2010 Insurance CompanyJOHN HANCOCK INVESTM Multiple Portfolios MF-AGG 114'250 0.02 62'310 31.12.2009 Mutual Fund ManagerCRANE STEVEN n/a EXCH 100'000 0.02 - 01.01.2011 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse SANDRA MCCULLAGH neutral 3 M 4 Not Provided 04.02.2011JPMorgan JASON HARLEY STEED neutral 3 M 4 12 month 04.02.2011Citi MARIE MIYASHIRO buy 5 M 4 Not Provided 03.02.2011Morgan Stanley MARK BLACKWELL Overwt/In-Line 5 M 4 12 month 31.01.2011Wilson HTM Investment Group NATHAN LEAD buy 5 M 4 Not Provided 28.01.2011Deutsche Bank JOHN HIRJEE buy 5 M 4 12 month 19.01.2011Macquarie IAN MYLES neutral 3 M 3 12 month 19.01.2011RBS JASON MABEE hold 3 D 4 12 month 12.01.2011Commonwealth Bank PAUL JOHNSTON hold 3 M 4 12 month 30.12.2010Goldman Sachs & Partners Australia AIDEN BRADLEY hold 3 M 4 Not Provided 21.12.2010E.L. & C. Baillieu IVOR RIES hold 3 M 4 12 month 30.11.2010UBS DAVID LEITCH neutral 3 M 4 12 month 08.10.2010
Aquarius Platinum Limited is a platinum group metals producer Africa. Through
its wholly owned subsidiary Aquarius Platinum South Africa, the Company operatesthe Kroondal and Marikana mines and also has a fifty percent stake in the MimosaPlatinum Mine in Zimbabwe.
Latest Fiscal Year: 06/2011LTM as of: 09/yy52-Week High (14.02.2011) 6.8152-Week Low (12.09.2011) 3.22Daily Volume
EBITDA - Long-Term Rating Date -EBIT 122.66 Long-Term Rating -Operating Margin 19.06% Long-Term Outlook -Pretax Margin 3.95% Short-Term Rating Date -Return on Assets -0.73% Short-Term Rating -Return on Common Equity -1.23%Return on Capital -1.83% EBITDA/Interest Exp. -Asset Turnover 0.45% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin 21.1% Total Debt/EBITDA -EBITDA Margin -EBIT Margin 19.1% Total Debt/Equity 34.3%Net Income Margin -1.6% Total Debt/Capital 25.6%
Asset Turnover 0.45Current Ratio 4.03 Net Fixed Asset Turnover 0.86Quick Ratio 3.65 Accounts receivable turnover-days 52.94Debt to Assets 20.05% Inventory Days 33.53Tot Debt to Common Equity 34.32% Accounts Payable Turnover Day 43.38Accounts Receivable Turnover 6.89 Cash Conversion Cycle 43.09Inventory Turnover 10.89
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Aquarius Platinum LtdPrice/Volume
Valuation Analysis
924'753.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Evolution Securities LOUISE COLLINGE neutral 3 M 5 12 month 07.02.2011Seymour Pierce ASA BRIDLE add 4 M 7 12 month 07.02.2011Arbuthnot Securities CHARLES GIBSON neutral 3 M #N/A N/A Not Provided 07.02.2011RBC Capital Markets LEON ESTERHUIZEN outperform 5 M 8 12 month 06.02.2011Goldman Sachs & Partners Australia IAN PRESTON buy 5 M 8 Not Provided 02.02.2011Investec WILLIAM BLACK hold 3 M 6 Not Provided 31.01.2011BMO Capital Markets EDWARD STERCK outperform 5 M 6 Not Provided 28.01.2011Deutsche Bank PAUL-D YOUNG buy 5 M 7 12 month 27.01.2011Canaccord Genuity Corp TYLER BRODA hold 3 M 6 12 month 27.01.2011Macquarie JUSTIN FRONEMAN outperform 5 M 7 12 month 18.01.2011Panmure Gordon & Co Limited ALISON TURNER sell 1 M 4 12 month 14.01.2011Renaissance Capital EMMA TOWNSHEND buy 5 M 8 Not Provided 11.01.2011MF Global Equities Research ANDREW GARDNER buy 5 U #N/A N/A Not Provided 09.11.2010E.L. & C. Baillieu RAY CHANTRY hold 3 M 7 Not Provided 27.10.2010Citi CRAIG SAINSBURY buy 5 M 7 Not Provided 12.10.2010GMP MARK SMITH hold 3 M 6 Not Provided 20.11.2009Mirabaud Securities ALEX WOOD overweight 5 M 6 12 month 23.04.2009
Aristocrat Leisure Limited manufactures and sells gaming machines in Australia
and internationally. The Company also supplies gaming systems, software, tablegaming equipment and other gaming related products and services to casinos,clubs and hotels.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (21.09.2010) 3.8352-Week Low (14.09.2011) 1.93Daily Volume
EBITDA 140.18 Long-Term Rating Date 28.03.2011EBIT 103.27 Long-Term Rating NROperating Margin 15.18% Long-Term Outlook -Pretax Margin 14.87% Short-Term Rating Date -Return on Assets 10.18% Short-Term Rating -Return on Common Equity 44.79%Return on Capital 23.00% EBITDA/Interest Exp. 8.85Asset Turnover 0.90% (EBITDA-Capex)/Interest Exp. 6.45
Net Debt/EBITDA 2.01Gross Margin 53.6% Total Debt/EBITDA 2.18EBITDA Margin 20.6%EBIT Margin 15.2% Total Debt/Equity 161.0%Net Income Margin 11.3% Total Debt/Capital 61.9%
Asset Turnover 0.90Current Ratio 1.86 Net Fixed Asset Turnover 6.17Quick Ratio 1.14 Accounts receivable turnover-days 108.39Debt to Assets 43.12% Inventory Days 87.95Tot Debt to Common Equity 160.98% Accounts Payable Turnover Day 58.49Accounts Receivable Turnover 3.37 Cash Conversion Cycle 137.85Inventory Turnover 4.15
Fiscal Year Ended
Aristocrat Leisure LtdPrice/Volume
Valuation Analysis
1'995'539.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCOMMONWEALTH BANK OF n/a EXCH 65'031'253 12.18 5'417'672 01.12.2010 BankLAZARD ASSET MANAGEM n/a EXCH 40'872'775 7.65 (6'640'491) 02.12.2010 Investment AdvisorMAPLE-BROWN ABBOTT L n/a Co File 40'126'516 7.51 - 23.02.2010 Investment AdvisorIOOF HOLDINGS LTD n/a EXCH 33'326'255 6.24 5'797'508 17.12.2010 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 32'824'612 6.15 - 14.04.2010 BankCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 18'658'761 3.49 - 30.09.2010 Investment AdvisorCAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 6'350'000 1.19 - 30.09.2010 Investment AdvisorUBS STRATEGY FUND MG Multiple Portfolios MF-AGG 3'404'905 0.64 1'500'000 29.10.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 2'969'713 0.56 (70'851) 31.12.2010 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 2'566'228 0.48 - 31.10.2009 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'215'704 0.41 5'335 31.12.2010 Mutual Fund ManagerFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 1'050'221 0.2 (7'514'948) 31.12.2010 Investment AdvisorIG INVESTMENT MANAGE Multiple Portfolios MF-AGG 652'229 0.12 - 30.09.2010 Investment AdvisorMIRAE ASSET INVESTME Multiple Portfolios MF-AGG 628'237 0.12 (110'533) 30.09.2010 Investment AdvisorVAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 493'957 0.09 - 04.02.2011 Investment AdvisorUBS FUND MANAGEMENT Multiple Portfolios MF-AGG 451'902 0.08 (62'177) 30.11.2010 Investment AdvisorSJUNDE AP FONDEN Multiple Portfolios MF-AGG 372'164 0.07 - 30.09.2010 Investment AdvisorJOWETT W P n/a Co File 361'561 0.07 - 31.12.2009 n/aSTATE STREET CORP Multiple Portfolios MF-AGG 292'166 0.05 15'112 04.02.2011 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 284'502 0.05 - 31.12.2010 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBS HARRY THEODORE buy 5 M 4 12 month 01.02.2011Deutsche Bank MARK WILSON hold 3 M 3 12 month 19.01.2011Austock Securities ROHAN SUNDRAM sell 1 M 3 Not Provided 20.12.2010Credit Suisse LARRY GANDLER outperform 5 M 4 Not Provided 29.11.2010JPMorgan STUART JACKSON overweight 5 M 4 12 month 29.11.2010Macquarie ANDREW LEVY underperform 1 M 3 12 month 27.11.2010UBS SAM THEODORE buy 5 M 4 12 month 26.11.2010Citi JENNY OWEN hold 3 M 3 Not Provided 26.11.2010Goldman Sachs & Partners Australia ADAM ALEXANDER sell 1 M 3 Not Provided 26.11.2010Telsey Advisory Group CHRISTOPHER E JONES no rating system #N/A N/A M #N/A N/A Not Provided 26.08.2009
Shares Out 30.06.2011 2'926.1 Short Int 18.234'535.46 1 Yr Total Return -4.05%
Total Debt 2'658.40 YTD Return -1.64%Preferred Stock 0.0 Adjusted BETA 0.931Minority Interest 10.6 Analyst Recs 16Cash and Equivalents 398.50 Consensus Rating 4.563Enterprise Value 6'805.96
Average Volume 5 Day 16'488'980AIO AT EQUITY YTD Change - Average Volume 30 Day 19'004'060AIO AT EQUITY YTD % CHANGE - Average Volume 3 Month 17'949'960
EBITDA 686.90 Long-Term Rating Date 22.02.2010EBIT 467.80 Long-Term Rating BBB-Operating Margin 15.31% Long-Term Outlook POSPretax Margin 7.21% Short-Term Rating Date -Return on Assets 2.65% Short-Term Rating -Return on Common Equity 6.06%Return on Capital 5.35% EBITDA/Interest Exp. 2.70Asset Turnover 0.46% (EBITDA-Capex)/Interest Exp. 1.11
Net Debt/EBITDA 3.29Gross Margin - Total Debt/EBITDA 3.87EBITDA Margin 22.5%EBIT Margin 15.3% Total Debt/Equity 82.9%Net Income Margin 5.8% Total Debt/Capital 45.2%
Asset Turnover 0.46Current Ratio 0.87 Net Fixed Asset Turnover 1.05Quick Ratio 0.72 Accounts receivable turnover-days 31.36Debt to Assets 39.04% Inventory Days -Tot Debt to Common Equity 82.89% Accounts Payable Turnover Day -Accounts Receivable Turnover 11.64 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Asciano LtdPrice/Volume
Valuation Analysis
13'685'892.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeWESTPAC BANKING CORP n/a EXCH 295'779'821 10.11 29'775'862 30.11.2010 BankCOMMONWEALTH BANK OF n/a EXCH 257'013'343 8.78 30'714'720 15.12.2010 BankAUSBIL DEXIA LIMITED n/a Co File 179'209'802 6.12 - 30.06.2010 Investment AdvisorUBS AG n/a EXCH 167'864'634 5.74 (34'679'798) 26.08.2009 BankBLACKROCK INVESTMENT n/a EXCH 147'950'261 5.06 - 26.05.2010 Investment AdvisorROWSTHORN MARK n/a Co File 112'579'246 3.85 - 10.09.2010 n/aBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 28'116'999 0.96 - 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 23'552'314 0.8 477'460 31.12.2010 Investment AdvisorUBS STRATEGY FUND MG Multiple Portfolios MF-AGG 20'390'537 0.7 15'544'909 29.10.2010 Investment AdvisorARTIO GLOBAL MANAGEM Multiple Portfolios MF-AGG 14'987'585 0.51 - 31.10.2010 Investment AdvisorGOLDMAN SACHS ASSET Multiple Portfolios MF-AGG 7'080'999 0.24 10'730 30.09.2010 Mutual Fund ManagerMAPS INVESTMENT MANA Multiple Portfolios MF-AGG 7'047'935 0.24 5'954'148 30.09.2010 Mutual Fund ManagerJPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 6'821'512 0.23 - 30.09.2010 Mutual Fund ManagerFRANK RUSSELL TRUST Multiple Portfolios MF-AGG 6'281'436 0.21 - 30.11.2010 Investment AdvisorCHINA INTERNATIONAL Multiple Portfolios MF-AGG 6'000'000 0.21 (14'000'000) 30.06.2010 Investment AdvisorMACQUARIE INFRASTRUC Multiple Portfolios MF-AGG 5'284'239 0.18 5'284'239 30.11.2009 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 4'911'701 0.17 681'875 31.12.2010 Mutual Fund ManagerJP MORGAN CHASE & CO Multiple Portfolios MF-AGG 3'431'622 0.12 - 30.11.2010 Investment AdvisorMACQUARIE CAP INVST Multiple Portfolios MF-AGG 3'272'899 0.11 1'294'466 14.06.2010 Investment AdvisorROYAL LONDON ASSET M Multiple Portfolios MF-AGG 3'240'461 0.11 3'240'461 30.11.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley SCOTT KELLY Overwt/In-Line 5 M 2 12 month 08.02.2011Deutsche Bank CAMERON MCDONALD buy 5 M 2 12 month 07.02.2011Credit Suisse ANTHONY MOULDER underperform 1 M 2 Not Provided 07.02.2011JPMorgan SCOTT CARROLL overweight 5 M 2 12 month 07.02.2011Citi SHAVARSH BEDROSSIAN buy 5 M 2 Not Provided 07.02.2011Wilson HTM Investment Group NATHAN LEAD buy 5 M 2 Not Provided 07.02.2011Goldman Sachs & Partners Australia JONATHAN COLLETT buy 5 M 2 Not Provided 04.02.2011Commonwealth Bank MATT CROWE buy 5 M 2 12 month 28.01.2011RBS MARK WILLIAMS buy 5 M 2 12 month 21.01.2011Macquarie IAN MYLES outperform 5 M 2 12 month 12.01.2011Austock Securities ANDREW CHAMBERS hold 3 M 2 Not Provided 06.01.2011CLSA Asia Pacific Markets SCOTT RYALL sell 1 M 1 Not Provided 03.12.2010Evans & Partners Pty Ltd PAUL RYAN Positive 4 U #N/A N/A Not Provided 28.10.2010UBS SIMON MITCHELL buy 5 U 2 12 month 21.05.2010
ASX Ltd is a demutualized company which operates Australia's primary national
stock exchange and equity derivatives market. The ASX operates markets forequities, derivatives, fixed-interest securities and capital-raising forunlisted companies using advanced computer systems for both trading andsettlement.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (25.10.2010) 43.8952-Week Low (09.08.2011) 25.83Daily Volume
EBITDA 484.34 Long-Term Rating Date -EBIT 458.77 Long-Term Rating -Operating Margin 75.00% Long-Term Outlook -Pretax Margin 81.77% Short-Term Rating Date -Return on Assets 5.50% Short-Term Rating -Return on Common Equity 11.86%Return on Capital 7.35% EBITDA/Interest Exp. 3.94Asset Turnover 0.10% (EBITDA-Capex)/Interest Exp. 3.55
Net Debt/EBITDA -1.14Gross Margin - Total Debt/EBITDA 5.71EBITDA Margin 79.2%EBIT Margin 75.0% Total Debt/Equity 91.6%Net Income Margin 57.6% Total Debt/Capital 47.8%
Asset Turnover 0.10Current Ratio 1.29 Net Fixed Asset Turnover 13.39Quick Ratio 1.22 Accounts receivable turnover-days 33.86Debt to Assets 44.75% Inventory Days -Tot Debt to Common Equity 91.57% Accounts Payable Turnover Day -Accounts Receivable Turnover 10.78 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
ASX LtdPrice/Volume
Valuation Analysis
680'524.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank KIEREN CHIDGEY buy 5 M 41 12 month 03.02.2011Credit Suisse JOHN HEAGERTY neutral 3 M 40 Not Provided 03.02.2011RBS RICHARD COLES hold 3 M 40 12 month 02.02.2011Goldman Sachs & Partners Australia RYAN FISHER hold 3 M 43 Not Provided 02.02.2011Wilson HTM Investment Group ANDREW HILLS hold 3 M 40 Not Provided 27.01.2011JPMorgan RUSSELL GILL neutral 3 M 40 6 month 24.01.2011Keefe, Bruyette & Woods SAM HILTON market perform 3 M 34 12 month 13.01.2011UBS CHRIS WILLIAMS buy 5 M 45 12 month 06.12.2010Macquarie MICHAEL WIBLIN underperform 1 M 26 12 month 07.10.2010
Australia and New Zealand Banking Group Limited is an international bank with
activities in general banking, mortgage and installment lending, life insurance,leasing, hire purchase and general finance. ANZ also provides international andinvestment banking, investment and portfolio management and advisory services,nominee and custodian services, stock broking and executor and trustee services.
Latest Fiscal Year: 09/2010LTM as of: 12/yy52-Week High (15.02.2011) 25.9652-Week Low (09.08.2011) 17.63Daily Volume
Shares Out 14.09.2011 2'629.0 Short Int 11.4051'029.54 1 Yr Total Return -13.67%
Total Debt 105'948.00 YTD Return -14.50%Preferred Stock 871.0 Adjusted BETA 1.094Minority Interest 64.0 Analyst Recs 16Cash and Equivalents 27'002.00 Consensus Rating 3.813Enterprise Value 126'943.50
Average Volume 5 Day 10'036'130ANZ AT EQUITY YTD Change - Average Volume 30 Day 11'919'870ANZ AT EQUITY YTD % CHANGE - Average Volume 3 Month 10'263'950
EBITDA - Long-Term Rating Date 22.02.2007EBIT - Long-Term Rating AAOperating Margin 40.93% Long-Term Outlook STABLEPretax Margin 41.99% Short-Term Rating Date 11.09.1996Return on Assets 0.89% Short-Term Rating A-1+Return on Common Equity 13.88%Return on Capital 3.21% EBITDA/Interest Exp. -Asset Turnover 0.06% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 318.9%Net Income Margin 28.6% Total Debt/Capital 75.6%
Asset Turnover 0.06Current Ratio - Net Fixed Asset Turnover 14.91Quick Ratio - Accounts receivable turnover-days -Debt to Assets 19.92% Inventory Days -Tot Debt to Common Equity 318.93% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Australia & New Zealand Banking Group LtdPrice/Volume
Valuation Analysis
6'488'437.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan SCOTT MANNING overweight 5 M 28 12 month 02.02.2011Goldman Sachs & Partners Australia BENJAMIN KOO buy 5 M 30 Not Provided 01.02.2011Nomura VICTOR GERMAN reduce 2 M 22 Not Provided 01.02.2011Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT buy 5 M 26 Not Provided 27.01.2011RBS ANDREW LYONS buy 5 M 26 12 month 19.01.2011Macquarie CRAIG TURTON underperform 1 M 23 12 month 19.01.2011Credit Suisse JARROD MARTIN outperform 5 M 29 Not Provided 11.01.2011Keefe, Bruyette & Woods BILL STACEY outperform 5 M 28 12 month 14.12.2010BBY Limited BRETT LE MESURIER hold 3 D 25 12 month 13.12.2010Southern Cross TS LIM buy 5 M 27 12 month 07.12.2010Citi CRAIG WILLIAMS hold 3 D 25 Not Provided 03.12.2010CLSA Asia Pacific Markets BRIAN D JOHNSON underperform 1 M 23 Not Provided 25.11.2010Deutsche Bank JAMES FREEMAN buy 5 M 27 12 month 29.10.2010Commonwealth Bank BEN ZUCKER buy 5 M 26 12 month 29.10.2010Morgan Stanley RICHARD E WILES Equalwt/Cautious 3 M 25 12 month 28.10.2010UBS JONATHAN MOTT buy 5 M 26 12 month 21.06.2010Shaw Stockbroking TIM BUCKLEY hold 3 M #N/A N/A Not Provided 05.03.2010
AXA Asia Pacific Holdings Limited provides life, health and other insurance
services, superannuation, savings, funds management and investment products tocustomers in Australia, New Zealand and Asia. The Company also provideswholesale funds management products and services to third parties.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (#N/A Field Not Applicable) -52-Week Low (#N/A Field Not Applicable) -Daily Volume
EBITDA - Long-Term Rating Date -EBIT - Long-Term Rating -Operating Margin 14.09% Long-Term Outlook -Pretax Margin 14.53% Short-Term Rating Date -Return on Assets 1.94% Short-Term Rating -Return on Common Equity 13.49%Return on Capital 11.08% EBITDA/Interest Exp. -Asset Turnover 0.17% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 25.3%Net Income Margin 11.3% Total Debt/Capital 20.2%
Asset Turnover 0.17Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 3.68% Inventory Days -Tot Debt to Common Equity 25.34% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
AXA Asia Pacific Holdings LtdPrice/Volume
Valuation Analysis
0.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeAMP LTD n/a EXCH 1'133'819'361 54.85 (1'739'799) 29.11.2010 Insurance CompanyUBS AG n/a EXCH 105'514'045 5.1 - 31.01.2011 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 19'053'691 0.92 (5'302'961) 14.09.2010 BankMATTHEWS INTERNATION Multiple Portfolios MF-AGG 10'642'742 0.51 1'924'888 30.09.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 10'017'256 0.48 - 03.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 8'975'067 0.43 107'438 31.12.2010 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 8'124'000 0.39 - 30.06.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 4'908'192 0.24 212'855 31.12.2010 Mutual Fund ManagerWATER ISLAND CAPITAL Multiple Portfolios MF-AGG 4'436'148 0.21 - 30.06.2010 Investment AdvisorABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 2'694'462 0.13 (54'675) 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 2'289'682 0.11 (155'882) 31.12.2010 Mutual Fund ManagerGUARDIAN CAPITAL INC Multiple Portfolios MF-AGG 1'430'143 0.07 120'193 30.09.2010 Mutual Fund ManagerSJUNDE AP FONDEN Multiple Portfolios MF-AGG 1'087'383 0.05 32'221 30.09.2010 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 853'386 0.04 1'485 31.12.2010 Investment AdvisorLEGAL & GENERAL GROU Multiple Portfolios MF-AGG 770'164 0.04 (211) 30.04.2010 Investment AdvisorRCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 766'800 0.04 766'800 30.09.2010 Investment AdvisorCREDIT SUISSE ASSET Multiple Portfolios MF-AGG 628'449 0.03 194 27.01.2011 Mutual Fund ManagerHENDERSON INVESTORS Multiple Portfolios MF-AGG 593'877 0.03 - 31.07.2010 Investment AdvisorGAM INTERNATIONAL MA Multiple Portfolios MF-AGG 382'399 0.02 - 31.10.2010 Investment AdvisorKBC FUND MANAGERS Multiple Portfolios MF-AGG 363'119 0.02 8'318 31.12.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie TONY JACKSON restricted #N/A N/A M #N/A N/A Not Provided 27.01.2011Citi NIGEL PITTAWAY hold 3 M 6 Not Provided 25.01.2011Credit Suisse JOHN HEAGERTY neutral 3 M 6 Not Provided 21.01.2011Goldman Sachs & Partners Australia RYAN FISHER hold 3 M 6 Not Provided 07.01.2011JPMorgan SIDDHARTH PARAMESWARAN neutral 3 M 6 6 month 16.12.2010RBS RICHARD COLES hold 3 M 6 12 month 15.11.2010Deutsche Bank KIEREN CHIDGEY restricted #N/A N/A M #N/A N/A Not Provided 15.11.2010Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT hold 3 M 6 Not Provided 21.10.2010DZ Bank AG WERNER EISENMANN buy 5 M #N/A N/A Not Provided 09.09.2010UBS ROSS CURRAN restricted #N/A N/A M #N/A N/A Not Provided 09.11.2009
Bank of Queensland Limited is a full service financial institution. The Bank
operates retail branches, business banking centers, and equipment financecenters throughout Australia and New Zealand. Bank of Queensland also operatesan automated teller machine (ATM) network throughout Australia.
Latest Fiscal Year: 08/2010LTM as of: 01/yy52-Week High (07.12.2010) 12.3252-Week Low (09.08.2011) 6.46Daily Volume
EBITDA - Long-Term Rating Date 07.04.2005EBIT - Long-Term Rating BBB+Operating Margin 37.84% Long-Term Outlook NEGPretax Margin 36.27% Short-Term Rating Date 14.01.1994Return on Assets 0.47% Short-Term Rating A-2Return on Common Equity 8.33%Return on Capital 1.89% EBITDA/Interest Exp. -Asset Turnover 0.07% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 331.3%Net Income Margin 25.2% Total Debt/Capital 75.3%
Asset Turnover 0.07Current Ratio - Net Fixed Asset Turnover 95.59Quick Ratio - Accounts receivable turnover-days -Debt to Assets 18.95% Inventory Days -Tot Debt to Common Equity 331.27% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Bank of Queensland LtdPrice/Volume
Valuation Analysis
930'325.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBRED BANQUE POPULAIR n/a Co File 27'315'821 12.3 - 24.09.2010 n/aFOX PETER n/a EXCH 1'775'499 0.8 - 25.11.2009 n/aLIDDY DAVID PAUL n/a EXCH 1'179'053 0.53 87'536 21.01.2011 n/aVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 1'139'504 0.51 107'167 31.12.2010 Mutual Fund ManagerVANGUARD GROUP INC Multiple Portfolios MF-AGG 508'181 0.23 12'206 31.12.2010 Investment AdvisorAXA ROSENBERG INTL Multiple Portfolios MF-AGG 266'304 0.12 (217'652) 30.09.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 212'552 0.1 4'466 31.12.2010 Mutual Fund ManagerIO UNIVERSAL FUND Multiple Portfolios MF-AGG 194'900 0.09 - 31.12.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 176'040 0.08 - 31.12.2010 Investment AdvisorBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 136'556 0.06 204 04.02.2011 Investment AdvisorEMERGING LEADERS INV n/a EXCH 135'400 0.06 - 30.06.2009 UnclassifiedLEGAL & GENERAL GROU Multiple Portfolios MF-AGG 102'361 0.05 (11) 30.04.2010 Investment AdvisorBESSEMER GROUP INCOR Multiple Portfolios MF-AGG 96'214 0.04 44'119 29.10.2010 Investment AdvisorSTATE STREET CORP Multiple Portfolios MF-AGG 94'365 0.04 - 04.02.2011 Investment AdvisorSKANDIA INVESTMENT M Multiple Portfolios MF-AGG 92'484 0.04 92'484 30.11.2010 Mutual Fund ManagerSMARTSHARES LIMITED Multiple Portfolios MF-AGG 75'351 0.03 2'238 31.03.2010 Investment AdvisorDIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 69'239 0.03 78 30.06.2010 Investment AdvisorWELLS FARGO BANK NAT Multiple Portfolios MF-AGG 57'072 0.03 - 30.11.2010 Investment AdvisorBLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 49'809 0.02 (5'594) 29.10.2010 Investment AdvisorHOWARTH ANTHONY JOHN n/a EXCH 48'714 0.02 - 26.07.2010 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan SCOTT MANNING neutral 3 M 11 12 month 02.02.2011Southern Cross TS LIM accumulate 4 U 10 12 month 02.02.2011Goldman Sachs & Partners Australia BENJAMIN KOO hold 3 M 12 Not Provided 01.02.2011BBY Limited BRETT LE MESURIER underperform 1 N 9 12 month 28.01.2011RBS JOHN BUONACCORSI buy 5 U 12 12 month 24.01.2011Nomura VICTOR GERMAN neutral 3 M 11 Not Provided 24.01.2011Deutsche Bank JAMES FREEMAN hold 3 M 11 12 month 20.01.2011Citi WES NASON hold 3 U 11 Not Provided 20.01.2011Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT outperform 5 M 11 Not Provided 17.01.2011Morgan Stanley DAVID SHI Underwt/Cautious 1 M 10 12 month 12.01.2011Credit Suisse JAMES ELLIS neutral 3 M 13 Not Provided 13.12.2010Macquarie MICHAEL WIBLIN neutral 3 M 13 12 month 09.12.2010Commonwealth Bank BEN ZUCKER hold 3 M 11 12 month 08.12.2010UBS JONATHAN MOTT neutral 3 M 11 12 month 14.10.2010
EBITDA - Long-Term Rating Date 14.02.2005EBIT - Long-Term Rating BBB+Operating Margin 32.92% Long-Term Outlook POSPretax Margin 34.43% Short-Term Rating Date 29.05.2002Return on Assets 0.62% Short-Term Rating A-2Return on Common Equity 9.11%Return on Capital 2.57% EBITDA/Interest Exp. -Asset Turnover 0.07% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 245.6%Net Income Margin 27.7% Total Debt/Capital 70.1%
Asset Turnover 0.07Current Ratio - Net Fixed Asset Turnover 36.16Quick Ratio - Accounts receivable turnover-days -Debt to Assets 16.86% Inventory Days -Tot Debt to Common Equity 245.59% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Bendigo and Adelaide Bank LtdPrice/Volume
Valuation Analysis
629'755.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 3'462'518 0.97 - 31.12.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 2'885'916 0.81 82'070 31.12.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 1'800'972 0.5 63'387 31.12.2010 Mutual Fund ManagerADELAIDE RESOURCE MG n/a EXCH 1'500'000 0.42 - 14.11.2010 n/aPRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 1'248'231 0.35 20'183 31.12.2010 Investment AdvisorAXA ROSENBERG INTL Multiple Portfolios MF-AGG 781'900 0.22 781'900 30.09.2010 Investment AdvisorWELLS FARGO BANK NAT Multiple Portfolios MF-AGG 665'069 0.19 91 30.11.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 360'256 0.1 (7'282) 31.12.2010 Mutual Fund ManagerHORAN JOHN PATRICK n/a EXCH 347'077 0.1 - 14.11.2010 n/aSJUNDE AP FONDEN Multiple Portfolios MF-AGG 325'119 0.09 (16'405) 30.09.2010 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 297'981 0.08 941 31.12.2010 Investment AdvisorRUSSELL INVESTMENT M Multiple Portfolios MF-AGG 273'005 0.08 - 30.01.2011 Investment AdvisorHARTFORD INVESTMENT Multiple Portfolios MF-AGG 257'912 0.07 - 28.02.2010 Investment AdvisorJOHANSON ROBERT NIVE n/a EXCH 238'759 0.07 5'445 30.09.2010 n/aCREDIT SUISSE ASSET Multiple Portfolios MF-AGG 227'788 0.06 68 27.01.2011 Mutual Fund ManagerBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 212'669 0.06 300 04.02.2011 Investment AdvisorBESSEMER GROUP INCOR Multiple Portfolios MF-AGG 190'762 0.05 21'382 29.10.2010 Investment AdvisorHIRST JOHN MICHAEL n/a EXCH 188'371 0.05 3'019 11.11.2010 n/aLEGAL & GENERAL GROU Multiple Portfolios MF-AGG 176'742 0.05 5'257 30.04.2010 Investment AdvisorLEGG MASON GLOBAL FU Multiple Portfolios MF-AGG 157'925 0.04 157'925 30.11.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan SCOTT MANNING neutral 3 M 11 12 month 07.02.2011RBS JOHN BUONACCORSI hold 3 M 11 12 month 04.02.2011Goldman Sachs & Partners Australia BENJAMIN KOO hold 3 M 11 Not Provided 01.02.2011Nomura VICTOR GERMAN neutral 3 M 10 Not Provided 01.02.2011Macquarie MICHAEL WIBLIN neutral 3 M 10 12 month 12.01.2011Morgan Stanley RICHARD E WILES Underwt/Cautious 1 M 8 12 month 11.01.2011Credit Suisse JAMES ELLIS outperform 5 U 11 Not Provided 11.01.2011Citi WES NASON sell 1 D 9 Not Provided 13.12.2010Southern Cross TS LIM accumulate 4 M 10 12 month 02.12.2010Deutsche Bank JAMES FREEMAN hold 3 M 10 12 month 26.10.2010Commonwealth Bank BEN ZUCKER hold 3 M 9 12 month 26.10.2010UBS JONATHAN MOTT neutral 3 M 9 12 month 27.09.2010BBY Limited GEORGE GABRIEL buy 5 M 10 12 month 20.08.2010Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT hold 3 M 10 Not Provided 11.08.2010
BHP Billiton Limited is an international resources company. The Company's
principal business lines are mineral exploration and production, including coal,iron ore, gold, titanium, ferroalloys, nickel and copper concentrate, as well aspetroleum exploration, production, and refining.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (11.04.2011) 49.8152-Week Low (09.08.2011) 34.81Daily Volume
Shares Out 29.07.2011 3'224.3 Short Int 44.41183'673.80 1 Yr Total Return -1.04%
Total Debt 15'907.00 YTD Return -14.93%Preferred Stock 0.0 Adjusted BETA 1.112Minority Interest 993.0 Analyst Recs 20Cash and Equivalents 10'084.00 Consensus Rating 4.500Enterprise Value 195'026.60
Average Volume 5 Day 13'973'520BHP AT EQUITY YTD Change - Average Volume 30 Day 15'329'910BHP AT EQUITY YTD % CHANGE - Average Volume 3 Month 14'218'440
EBITDA 36'488.00 Long-Term Rating Date 15.11.2010EBIT 31'449.00 Long-Term Rating A+Operating Margin 43.84% Long-Term Outlook STABLEPretax Margin 43.57% Short-Term Rating Date 06.02.2008Return on Assets 24.67% Short-Term Rating A-1Return on Common Equity 44.92%Return on Capital 34.79% EBITDA/Interest Exp. 72.69Asset Turnover 0.75% (EBITDA-Capex)/Interest Exp. 50.48
Net Debt/EBITDA 0.16Gross Margin - Total Debt/EBITDA 0.44EBITDA Margin 50.9%EBIT Margin 43.8% Total Debt/Equity 28.0%Net Income Margin 33.0% Total Debt/Capital 21.6%
Asset Turnover 0.75Current Ratio 1.28 Net Fixed Asset Turnover 1.16Quick Ratio 0.93 Accounts receivable turnover-days 33.43Debt to Assets 15.46% Inventory Days -Tot Debt to Common Equity 28.02% Accounts Payable Turnover Day -Accounts Receivable Turnover 10.92 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
BHP Billiton LtdPrice/Volume
Valuation Analysis
8'709'561.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Daiwa Securities Capital Markets Co. DAVID BRENNAN buy 5 M 53 Not Provided 08.02.2011Deutsche Bank PAUL-D YOUNG buy 5 M 53 12 month 07.02.2011Goldman Sachs & Partners Australia NEIL GOODWILL buy 5 M 66 Not Provided 02.02.2011Commonwealth Bank ANDREW HINES buy 5 M 56 12 month 01.02.2011CLSA Asia Pacific Markets HAYDEN BAIRSTOW buy 5 U 54 Not Provided 31.01.2011HSBC ANDREW KEEN neutral 3 M 48 Not Provided 25.01.2011RBS LYNDON FAGAN buy 5 M 51 12 month 20.01.2011Morgan Stanley CRAIG CAMPBELL Overwt/Attractive 5 M 55 12 month 20.01.2011Credit Suisse PAUL MCTAGGART neutral 3 M 53 Not Provided 20.01.2011JPMorgan FRASER JAMIESON neutral 3 M 50 6 month 20.01.2011Macquarie LEE BOWERS outperform 5 M 53 12 month 18.01.2011UBS GLYN LAWCOCK buy 5 M 52 12 month 14.01.2011MF Global Equities Research ANDREW GARDNER buy 5 M #N/A N/A Not Provided 09.11.2010Investec TIM GERRARD hold 3 M 43 12 month 20.10.2010E.L. & C. Baillieu RAY CHANTRY hold 3 M 43 12 month 20.10.2010Evolution Securities CHARLES KERNOT buy 5 N 33 Not Provided 04.10.2010Southern Cross FLEUR GROSE buy 5 M 44 12 month 26.08.2010Citi CLARKE WILKINS buy 5 M 50 Not Provided 02.06.2010BMO Capital Markets TONY ROBSON outperform 5 M 42 Not Provided 23.02.2010Wise-owl.com JOSH TERLICH long-term buy 5 N #N/A N/A Not Provided 28.11.2008
Billabong International Limited manufactures and distributes surfwear and
extreme sports apparel throughout the world. Billabong designs board shirts,swimwear, T-shirts, fleece tops, jumpers, shirts, walk shorts, trousers, jeans,back packs and accessories under its brand name. The Company also sponsorsprofessional surfing, skateboarding and snowboarding events.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (18.02.2011) 9.0752-Week Low (19.09.2011) 3.01Daily Volume
EBITDA 204.24 Long-Term Rating Date -EBIT 162.31 Long-Term Rating -Operating Margin 9.63% Long-Term Outlook -Pretax Margin 7.53% Short-Term Rating Date -Return on Assets 5.15% Short-Term Rating -Return on Common Equity 9.89%Return on Capital 8.17% EBITDA/Interest Exp. 8.25Asset Turnover 0.73% (EBITDA-Capex)/Interest Exp. 6.50
Net Debt/EBITDA 2.29Gross Margin 53.8% Total Debt/EBITDA 3.00EBITDA Margin 12.1%EBIT Margin 9.6% Total Debt/Equity 51.4%Net Income Margin 7.1% Total Debt/Capital 33.9%
Asset Turnover 0.73Current Ratio 2.34 Net Fixed Asset Turnover 9.49Quick Ratio 1.25 Accounts receivable turnover-days 79.08Debt to Assets 25.34% Inventory Days 138.14Tot Debt to Common Equity 51.38% Accounts Payable Turnover Day 105.10Accounts Receivable Turnover 4.62 Cash Conversion Cycle 112.12Inventory Turnover 2.64
Fiscal Year Ended
Billabong International LtdPrice/Volume
Valuation Analysis
3'622'899.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeMERCHANT GORDON n/a Co File 33'013'703 13.02 - 17.08.2009 n/aCOMMONWEALTH BANK OF n/a EXCH 19'165'209 7.56 (4'275'601) 24.08.2010 BankMAPLE-BROWN ABBOTT L n/a EXCH 15'562'148 6.14 2'745'542 24.08.2010 Investment AdvisorINVESCO AUSTRALIA LT n/a EXCH 15'497'677 6.11 (2'545'518) 13.12.2010 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 13'157'937 5.19 - 26.11.2010 BankFIDELITY MANAGEMENT n/a EXCH 13'136'301 5.18 - 11.01.2011 Investment AdvisorPERPETUAL INVESTMENT n/a Co File 12'122'587 4.78 - 17.08.2009 Investment AdvisorFRANKLIN RESOURCES I Multiple Portfolios MF-AGG 6'361'582 2.51 2'501'380 31.12.2010 Investment AdvisorCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 5'474'200 2.16 (10'580'787) 30.09.2010 Investment AdvisorCAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 4'422'271 1.74 (1'051'929) 30.09.2010 Investment AdvisorUNION INVESTMENT GMB Multiple Portfolios MF-AGG 3'016'283 1.19 (30'700) 30.09.2010 Investment AdvisorPAULL COLETTE n/a Co File 2'973'289 1.17 - 30.06.2009 n/aCOLUMBIA WANGER ASSE Multiple Portfolios MF-AGG 2'540'000 1 46'453 30.11.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 2'131'643 0.84 - 04.02.2011 Investment AdvisorNOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 1'844'396 0.73 (1'445'247) 15.07.2010 Investment AdvisorNEW JERSEY DIVISION Multiple Portfolios MF-AGG 1'750'000 0.69 500'000 30.09.2010 Pension Fund (ERISA)VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'605'646 0.63 13'299 31.12.2010 Investment AdvisorO'NEILL DEREK n/a EXCH 1'362'016 0.54 180'000 25.11.2010 n/aUNION INVESTMENT LUX Multiple Portfolios MF-AGG 1'200'000 0.47 (1'065'000) 30.09.2010 Mutual Fund ManagerMASSACHUSETTS FINANC Multiple Portfolios MF-AGG 1'198'757 0.47 - 30.11.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse GRANT SALIGARI underperform 1 M 8 Not Provided 04.02.2011Nomura NICK BERRY reduce 2 M 8 Not Provided 02.02.2011RBS DANIEL BROEREN hold 3 M 8 12 month 12.01.2011JPMorgan SHAUN COUSINS underweight 1 M 8 6 month 16.12.2010Goldman Sachs & Partners Australia PHILLIP KIMBER hold 3 M 10 Not Provided 16.12.2010Deutsche Bank ALEXI BAKER-MCLENNAN buy 5 M 10 12 month 15.12.2010Morgan Stanley THOMAS KIERATH Underwt/In-Line 1 D 7 12 month 15.12.2010UBS BEN GILBERT neutral 3 M 8 12 month 15.12.2010Citi CRAIG WOOLFORD hold 3 D 8 Not Provided 15.12.2010Macquarie GREG DRING outperform 5 M 9 12 month 15.12.2010Commonwealth Bank ANDREW MCLENNAN hold 3 M 9 12 month 15.12.2010Paterson Securities RUSSELL WRIGHT hold 3 M 8 12 month 15.12.2010Evans & Partners Pty Ltd TONY WILSON negative 2 D #N/A N/A Not Provided 15.12.2010CLSA Asia Pacific Markets JAMES PATERSON outperform 5 N 14 Not Provided 28.05.2010
BlueScope Steel Limited is a steel solutions company operating in Australia,
New Zealand, the US and Asia that serves primarily the building andconstruction industry, and also other industrial segments. The Companymanufactures and distributes hot and cold rolled coil, plate, and coatedproducts such as pre-painted steel and zinc/aluminium alloy-coated steel.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (21.09.2010) 2.4552-Week Low (14.09.2011) 0.65Daily Volume
Shares Out 15.09.2011 1'842.2 Short Int 75.321'271.14 1 Yr Total Return -70.85%
Total Debt 1'239.90 YTD Return -69.04%Preferred Stock 0.0 Adjusted BETA 1.511Minority Interest 87.3 Analyst Recs 12Cash and Equivalents 172.20 Consensus Rating 3.750Enterprise Value 2'426.14
Average Volume 5 Day 18'044'330BSL AT EQUITY YTD Change - Average Volume 30 Day 25'872'730BSL AT EQUITY YTD % CHANGE - Average Volume 3 Month 26'084'550
EBITDA 457.80 Long-Term Rating Date -EBIT 102.20 Long-Term Rating -Operating Margin 1.12% Long-Term Outlook -Pretax Margin -12.54% Short-Term Rating Date -Return on Assets -12.56% Short-Term Rating -Return on Common Equity -21.15%Return on Capital - EBITDA/Interest Exp. 5.70Asset Turnover 1.09% (EBITDA-Capex)/Interest Exp. 0.97
Net Debt/EBITDA 2.33Gross Margin - Total Debt/EBITDA 2.71EBITDA Margin 5.0%EBIT Margin 1.1% Total Debt/Equity 28.8%Net Income Margin -11.6% Total Debt/Capital 22.0%
Asset Turnover 1.09Current Ratio 1.72 Net Fixed Asset Turnover 2.35Quick Ratio 0.59 Accounts receivable turnover-days 40.77Debt to Assets 15.91% Inventory Days -Tot Debt to Common Equity 28.78% Accounts Payable Turnover Day -Accounts Receivable Turnover 8.95 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
BlueScope Steel LtdPrice/Volume
Valuation Analysis
14'924'421.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK INVESTMENT n/a EXCH 94'045'604 5.11 - 08.06.2010 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 82'386'660 4.47 (11'787'828) 21.09.2010 BankBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 18'208'206 0.99 - 03.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 14'886'984 0.81 (4'622'695) 31.12.2010 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 9'238'951 0.5 (266'298) 30.06.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 9'195'929 0.5 312'547 31.12.2010 Mutual Fund ManagerSUMITOMO MITSUI ASSE Multiple Portfolios MF-AGG 6'837'727 0.37 (200'000) 24.08.2010 Mutual Fund ManagerPRUDENTIAL PLC Multiple Portfolios MF-AGG 6'011'824 0.33 423'000 30.09.2010 Investment AdvisorUBS STRATEGY FUND MG Multiple Portfolios MF-AGG 5'545'995 0.3 4'144'502 29.10.2010 Investment AdvisorGRANTHAM MAYO VAN OT Multiple Portfolios MF-AGG 4'436'474 0.24 - 31.08.2010 Investment AdvisorFIDELITY INVESTMENTS Multiple Portfolios MF-AGG 3'715'822 0.2 - 31.12.2009 Mutual Fund ManagerMORGAN STANLEY & CO Multiple Portfolios MF-AGG 3'250'106 0.18 569'498 30.09.2010 Investment AdvisorPRINCIPAL LIFE INSUR PRINCIPAL LIFE INSUR Sch-D 3'247'946 0.18 3'247'946 30.06.2010 Insurance CompanyFONDI ALLEANZA SGR P Multiple Portfolios MF-AGG 3'125'000 0.17 - 29.11.2010 UnclassifiedROYAL LONDON ASSET M Multiple Portfolios MF-AGG 2'989'593 0.16 472'703 30.11.2010 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 2'428'642 0.13 40'030 31.12.2010 Investment AdvisorING INVESTMENT MGMT Multiple Portfolios MF-AGG 2'323'945 0.13 1'888'307 30.11.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 2'083'458 0.11 63'622 31.12.2010 Mutual Fund ManagerLEGAL & GENERAL GROU Multiple Portfolios MF-AGG 2'052'913 0.11 346 30.04.2010 Investment AdvisorSJUNDE AP FONDEN Multiple Portfolios MF-AGG 1'930'816 0.1 - 30.09.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse MICHAEL SLIFIRSKI outperform 5 M 3 Not Provided 08.02.2011Deutsche Bank EMILY BEHNCKE buy 5 M 4 12 month 07.02.2011JPMorgan BENJAMIN X. WILSON overweight 5 M 3 6 month 07.02.2011Goldman Sachs & Partners Australia ANDREW GIBSON buy 5 M 3 Not Provided 03.02.2011RBS TODD SCOTT buy 5 M 3 12 month 02.02.2011UBS ANDREW MOLLER buy 5 M 3 12 month 01.02.2011Macquarie DOUGLAS MACPHILLAMY underperform 1 D 2 12 month 18.01.2011Morgan Stanley CAMERON JUDD Equalwt/In-Line 3 M 2 12 month 17.01.2011Daiwa Securities Capital Markets Co. DAVID BRENNAN buy 5 M 3 Not Provided 07.12.2010CLSA Asia Pacific Markets SCOTT HUDSON underperform 1 M 2 Not Provided 12.11.2010HSBC DANIEL KANG overweight 5 M 3 Not Provided 11.11.2010E.L. & C. Baillieu SAM HADDAD accumulate 4 M 3 12 month 11.11.2010Commonwealth Bank ATHLENE PIECH hold 3 M 2 12 month 09.11.2010MF Global Equities Research ANDREW GARDNER neutral 3 M #N/A N/A Not Provided 09.11.2010
EBITDA 233.36 Long-Term Rating Date -EBIT 140.01 Long-Term Rating -Operating Margin 9.49% Long-Term Outlook -Pretax Margin 8.35% Short-Term Rating Date -Return on Assets 5.50% Short-Term Rating -Return on Common Equity 8.46%Return on Capital 7.60% EBITDA/Interest Exp. 26.72Asset Turnover 0.96% (EBITDA-Capex)/Interest Exp. 13.11
Net Debt/EBITDA 0.66Gross Margin 25.2% Total Debt/EBITDA 1.06EBITDA Margin 15.8%EBIT Margin 9.5% Total Debt/Equity 23.4%Net Income Margin 5.7% Total Debt/Capital 19.0%
Asset Turnover 0.96Current Ratio 2.09 Net Fixed Asset Turnover 3.60Quick Ratio 1.01 Accounts receivable turnover-days 51.16Debt to Assets 14.55% Inventory Days 73.19Tot Debt to Common Equity 23.44% Accounts Payable Turnover Day 38.08Accounts Receivable Turnover 7.13 Cash Conversion Cycle 86.26Inventory Turnover 4.99
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Boart Longyear LtdPrice/Volume
Valuation Analysis
1'692'575.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeUBS AG n/a EXCH 27'299'732 5.92 (5'316'948) 01.03.2010 Investment AdvisorMACQUARIE GROUP LTD n/a EXCH 21'581'019 4.68 (1'645'851) 17.11.2010 Investment AdvisorMAPLE-BROWN ABBOTT L n/a EXCH 17'611'908 3.82 (1'914'634) 16.10.2009 Investment AdvisorINVESCO AUSTRALIA LT n/a EXCH 16'621'379 3.6 (8'015'626) 05.01.2011 Investment AdvisorFRANKLIN RESOURCES I Multiple Portfolios MF-AGG 10'896'320 2.36 (666'222) 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 8'738'221 1.89 (629'011) 31.12.2010 Mutual Fund ManagerEUROCLEAR BANK SA n/a EXCH 8'010'758 1.74 - 13.10.2008 BankCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 6'290'000 1.36 - 30.09.2010 Investment AdvisorAMP LIFE LTD n/a Co File 5'846'276 1.27 - 12.03.2010 Investment AdvisorJULIUS BAER MULTIPAR Multiple Portfolios MF-AGG 5'381'406 1.17 559'733 30.06.2010 Mutual Fund ManagerFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 4'785'097 1.04 - 31.10.2010 Investment AdvisorAUSTRALIAN REWARD IN n/a Co File 4'101'602 0.89 - 12.03.2010 OtherQUEENSLAND INVESTMEN n/a Co File 3'420'488 0.74 - 12.03.2010 Investment AdvisorDRIEHAUS CAPITAL MAN Multiple Portfolios MF-AGG 2'636'243 0.57 361'517 30.11.2010 Hedge Fund ManagerVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'417'042 0.52 140'239 31.12.2010 Mutual Fund ManagerBOND STREET CUSTODIA n/a Co File 2'146'303 0.47 - 12.03.2010 OtherRCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 2'142'832 0.46 (1) 30.09.2010 Investment AdvisorGRANDOR PTY LIMITED n/a Co File 2'000'000 0.43 - 12.03.2010 n/aMMA FINANCE Multiple Portfolios MF-AGG 2'000'000 0.43 (930'000) 30.09.2010 Mutual Fund ManagerMORGAN STANLEY & CO Multiple Portfolios MF-AGG 1'984'024 0.43 (526'310) 30.09.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse ROHAN GALLAGHER neutral 3 M 5 Not Provided 20.12.2010UBS RAMOUN LAZAR neutral 3 D 5 12 month 20.12.2010Macquarie RIKKI BANNAN outperform 5 M 5 12 month 18.12.2010JPMorgan KEITH CHAU overweight 5 M 5 12 month 17.12.2010Citi GUY ROBINSON buy 5 M 5 Not Provided 17.12.2010Goldman Sachs & Partners Australia CHRIS SAVAGE buy 5 M 5 Not Provided 17.12.2010Nomura RICHARD J JOHNSON buy 5 M 5 Not Provided 17.12.2010Moelis & Company ADAM S MICHELL buy 5 N 5 12 month 16.12.2010RBS ANDREW HODGE buy 5 M 5 12 month 09.12.2010Austock Securities CRAIG STRANGER buy 5 M 5 Not Provided 08.12.2010Deutsche Bank CRAIG WONGPAN not rated #N/A N/A M #N/A N/A Not Provided 07.12.2010
Boral Limited is a manufacturer and supplier of building and construction
materials in Australia and internationally. Boral supplies building products tothe residential and commercial building markets, operates clay brick business inthe U.S. (for clay roof tiles and fly ash) along with the production ofplasterboard, timber products and concrete products.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (21.02.2011) 5.7352-Week Low (14.09.2011) 3.28Daily Volume
EBITDA 311.60 Long-Term Rating Date 07.11.2008EBIT 72.60 Long-Term Rating BBBOperating Margin 1.55% Long-Term Outlook STABLEPretax Margin 3.59% Short-Term Rating Date 07.07.2010Return on Assets 3.08% Short-Term Rating A-2Return on Common Equity 5.85%Return on Capital 6.03% EBITDA/Interest Exp. 3.13Asset Turnover 0.86% (EBITDA-Capex)/Interest Exp. 1.32
Net Debt/EBITDA 3.80Gross Margin 28.3% Total Debt/EBITDA 4.30EBITDA Margin 6.9%EBIT Margin 1.6% Total Debt/Equity 34.3%Net Income Margin 3.6% Total Debt/Capital 25.3%
Asset Turnover 0.86Current Ratio 1.68 Net Fixed Asset Turnover 1.65Quick Ratio 1.11 Accounts receivable turnover-days 59.06Debt to Assets 18.82% Inventory Days 62.20Tot Debt to Common Equity 34.31% Accounts Payable Turnover Day 71.64Accounts Receivable Turnover 6.18 Cash Conversion Cycle 49.63Inventory Turnover 5.87
Fiscal Year Ended
Boral LtdPrice/Volume
Valuation Analysis
4'936'892.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse ROHAN GALLAGHER neutral 3 M 5 Not Provided 07.02.2011RBS ANDREW G SCOTT hold 3 M 5 12 month 03.02.2011JPMorgan JASON HARLEY STEED overweight 5 U 6 6 month 31.01.2011Commonwealth Bank MICHAEL WARD hold 3 M 5 12 month 31.01.2011Deutsche Bank EMILY BEHNCKE hold 3 M 5 12 month 14.01.2011Macquarie DOUGLAS MACPHILLAMY underperform 1 M 5 12 month 22.12.2010UBS DAVID LEITCH buy 5 M 6 12 month 21.12.2010Goldman Sachs & Partners Australia MATTHEW MCNEE hold 3 M 5 Not Provided 21.12.2010CLSA Asia Pacific Markets ANDREW JOHNSTON underperform 1 N 5 Not Provided 16.12.2010Paterson Securities BEN KAKOSCHKE hold 3 D 5 12 month 07.12.2010Foster Stockbroking TEAM COVERAGE sell 1 N 3 Not Provided 27.10.2010Citi HUGH DIVE sell 1 M 4 Not Provided 26.08.2010E.L. & C. Baillieu SIMON DUMARESQ hold 3 N 5 Not Provided 19.08.2010Nomura SIMON THACKRAY buy 5 M 5 Not Provided 18.08.2010
EBITDA 1'317.80 Long-Term Rating Date 21.12.2009EBIT 832.30 Long-Term Rating BBB+Operating Margin 17.81% Long-Term Outlook STABLEPretax Margin 14.59% Short-Term Rating Date -Return on Assets 7.50% Short-Term Rating -Return on Common Equity 23.28%Return on Capital 12.49% EBITDA/Interest Exp. 9.73Asset Turnover 0.74% (EBITDA-Capex)/Interest Exp. 4.08
Net Debt/EBITDA 2.28Gross Margin - Total Debt/EBITDA 2.38EBITDA Margin 28.2%EBIT Margin 17.8% Total Debt/Equity 128.0%Net Income Margin 10.2% Total Debt/Capital 56.1%
Asset Turnover 0.74Current Ratio 0.70 Net Fixed Asset Turnover 1.25Quick Ratio 0.52 Accounts receivable turnover-days 52.22Debt to Assets 40.39% Inventory Days -Tot Debt to Common Equity 128.00% Accounts Payable Turnover Day -Accounts Receivable Turnover 6.99 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Brambles LtdPrice/Volume
Valuation Analysis
4'588'456.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCOMMONWEALTH BANK OF n/a EXCH 91'384'538 6.3 (15'406'164) 30.08.2010 BankBAILLIE GIFFORD AND n/a EXCH 86'308'065 5.95 14'899'793 02.09.2010 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 72'044'627 4.97 - 22.12.2010 BankBLACKROCK GROUP n/a Co File 71'242'004 4.91 - 16.08.2010 Investment AdvisorMAPLE-BROWN ABBOTT L n/a EXCH 70'746'569 4.88 (1'260'142) 05.11.2010 Investment AdvisorHARRIS ASSOCIATES L HARRIS ASSOC LP 13F 49'740'700 3.43 (1'695'400) 31.12.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 28'604'009 1.97 144'319 31.12.2010 Investment AdvisorFRANKLIN RESOURCES I Multiple Portfolios MF-AGG 16'509'711 1.14 (5'243'998) 31.12.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 13'923'424 0.96 - 04.02.2011 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 8'675'000 0.6 100'000 30.06.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 7'231'975 0.5 270'831 31.12.2010 Mutual Fund ManagerMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 5'988'427 0.41 9'756 31.12.2010 Mutual Fund ManagerFIRST STATE INVESTME Multiple Portfolios MF-AGG 5'362'544 0.37 (61'879'139) 31.08.2010 Investment AdvisorMASSACHUSETTS FINANC Multiple Portfolios MF-AGG 4'491'698 0.31 178'430 31.12.2010 Investment AdvisorGENERAL ELECTRIC COM Multiple Portfolios MF-AGG 3'675'172 0.25 795'468 30.11.2010 CorporationSCHRODER INVESTMENT Multiple Portfolios MF-AGG 3'622'185 0.25 (733'273) 30.06.2010 Investment AdvisorJOHN HANCOCK INVESTM Multiple Portfolios MF-AGG 3'507'636 0.24 (12'908) 31.12.2009 Mutual Fund ManagerINVESCO LTD Multiple Portfolios MF-AGG 2'478'245 0.17 7'953 07.02.2011 Investment AdvisorUCA FUNDS MANAGEMENT Multiple Portfolios MF-AGG 2'279'261 0.16 - 31.12.2010 Mutual Fund ManagerMAPS INVESTMENT MANA Multiple Portfolios MF-AGG 2'198'910 0.15 (622'612) 30.09.2010 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse ANTHONY MOULDER outperform 5 M 8 Not Provided 08.02.2011Deutsche Bank CAMERON MCDONALD buy 5 M 8 12 month 03.02.2011JPMorgan SCOTT CARROLL neutral 3 M 7 12 month 02.02.2011Macquarie RUSSELL SHAW outperform 5 M 8 12 month 02.02.2011RBS MARK WILLIAMS hold 3 M 7 12 month 21.01.2011Goldman Sachs & Partners Australia ANDREW GIBSON hold 3 M 8 Not Provided 16.11.2010Morgan Stanley JULIA WENG Equalwt/In-Line 3 M 7 12 month 15.11.2010UBS SIMON MITCHELL buy 5 M 8 12 month 15.11.2010Citi SHAVARSH BEDROSSIAN hold 3 M 7 Not Provided 15.11.2010Evans & Partners Pty Ltd PAUL RYAN Positive 4 M #N/A N/A Not Provided 23.08.2010
Caltex Australia Limited purchases, refines, distributes and markets petroleum
products in Australia. The Company's products include petroleum, motor oil,lubricants, diesel and jet fuel. Caltex also operates convenience stores, fastfood stores and service stations throughout Australia.
Latest Fiscal Year: 12/2010LTM as of: 06/yy52-Week High (23.03.2011) 16.4452-Week Low (09.08.2011) 8.76Daily Volume
EBITDA 597.48 Long-Term Rating Date 26.02.2004EBIT 388.60 Long-Term Rating BBB+Operating Margin 2.08% Long-Term Outlook STABLEPretax Margin 2.37% Short-Term Rating Date 03.03.2003Return on Assets 6.19% Short-Term Rating A-2Return on Common Equity 10.59%Return on Capital 10.16% EBITDA/Interest Exp. 10.32Asset Turnover 3.65% (EBITDA-Capex)/Interest Exp. 5.21
Net Debt/EBITDA 0.91Gross Margin 5.7% Total Debt/EBITDA 0.94EBITDA Margin 3.2%EBIT Margin 2.1% Total Debt/Equity 18.3%Net Income Margin 1.7% Total Debt/Capital 15.4%
Asset Turnover 3.65Current Ratio 1.40 Net Fixed Asset Turnover 6.58Quick Ratio 0.46 Accounts receivable turnover-days 14.00Debt to Assets 10.63% Inventory Days 26.90Tot Debt to Common Equity 18.32% Accounts Payable Turnover Day 4.51Accounts Receivable Turnover 26.07 Cash Conversion Cycle 36.39Inventory Turnover 13.57
Fiscal Year Ended
Caltex Australia LtdPrice/Volume
Valuation Analysis
453'639.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley STUART BAKER Overwt/Attractive 5 M 15 12 month 03.02.2011Deutsche Bank JOHN HIRJEE hold 3 M 13 12 month 01.02.2011Goldman Sachs & Partners Australia AIDEN BRADLEY hold 3 M 12 Not Provided 12.01.2011Citi MARK GREENWOOD sell 1 N 10 Not Provided 11.01.2011Credit Suisse SANDRA MCCULLAGH underperform 1 M 15 Not Provided 31.12.2010UBS GORDON RAMSAY neutral 3 M 14 12 month 10.12.2010Macquarie ADRIAN WOOD neutral 3 M 14 12 month 10.12.2010CLSA Asia Pacific Markets MARK SAMTER sell 1 M 11 Not Provided 09.12.2010E.L. & C. Baillieu GAVIN DUFFY sell 1 N 9 12 month 29.06.2010Southern Cross JOHAN HEDSTROM accumulate 4 M 12 12 month 25.06.2010
CFS Retail Property Trust is a property trust that invests in, manages, and
develops a portfolio of retail assets throughout Australia. The Trust'sportfolio comprises a variety of retail properties such as supermarkets,discount department stores, department stores, and specialty shops.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (21.09.2010) 1.9652-Week Low (09.08.2011) 1.49Daily Volume
Shares Out 07.07.2011 2'839.6 Short Int 61.725'011.88 1 Yr Total Return -2.50%
Total Debt 2'225.30 YTD Return 3.78%Preferred Stock 0.0 Adjusted BETA 0.591Minority Interest 0.0 Analyst Recs 11Cash and Equivalents 5.40 Consensus Rating 4.273Enterprise Value 7'231.78
Average Volume 5 Day 13'215'420CFX AT EQUITY YTD Change - Average Volume 30 Day 13'991'480CFX AT EQUITY YTD % CHANGE - Average Volume 3 Month 12'178'550
EBITDA 463.80 Long-Term Rating Date 13.08.2003EBIT 328.70 Long-Term Rating AOperating Margin 46.66% Long-Term Outlook STABLEPretax Margin 75.61% Short-Term Rating Date 13.08.2003Return on Assets 6.58% Short-Term Rating A-1Return on Common Equity 9.78%Return on Capital 6.93% EBITDA/Interest Exp. 3.47Asset Turnover 0.09% (EBITDA-Capex)/Interest Exp. -1.63
Net Debt/EBITDA 4.79Gross Margin - Total Debt/EBITDA 4.80EBITDA Margin 65.8%EBIT Margin - Total Debt/Equity 38.1%Net Income Margin 75.6% Total Debt/Capital 27.6%
Asset Turnover 0.09Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 26.21% Inventory Days -Tot Debt to Common Equity 38.13% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
CFS Retail Property TrustPrice/Volume
Valuation Analysis
7'018'488.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
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Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeGANDEL GROUP PTY LTD n/a EXCH 724'565'310 25.64 22'329'205 01.10.2010 CorporationCOMMONWEALTH BANK OF n/a EXCH 569'488'942 20.15 31'252'954 21.10.2010 BankVANGUARD GROUP INC n/a EXCH 142'764'125 5.05 - 20.12.2010 Investment AdvisorING GROEP NV n/a Co File 135'546'532 4.8 - 16.08.2010 Investment AdvisorBARCLAYS PLC n/a EXCH 124'897'519 4.42 - 29.09.2009 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 93'539'868 3.31 1'895'801 31.12.2010 Mutual Fund ManagerMORGAN STANLEY & CO Multiple Portfolios MF-AGG 69'840'460 2.47 749'815 30.09.2010 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 64'703'253 2.29 (66'750'036) 04.01.2010 BankCOLONIAL FIRST STATE Multiple Portfolios MF-AGG 51'486'302 1.82 - 09.08.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 36'414'044 1.29 (4'059'169) 31.12.2010 Mutual Fund ManagerCOHEN & STEERS CAPIT Multiple Portfolios MF-AGG 32'736'390 1.16 13'718'352 03.02.2011 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 21'400'496 0.76 - 04.02.2011 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 20'099'000 0.71 645'000 30.06.2010 Investment AdvisorNIKKO ASSET MANAGEME Multiple Portfolios MF-AGG 16'905'007 0.6 6'398'399 16.08.2010 Mutual Fund ManagerING INVESTMENT MGMT Multiple Portfolios MF-AGG 14'328'763 0.51 (1'141'025) 30.11.2010 Investment AdvisorING INVESTMENT MANAG Multiple Portfolios MF-AGG 13'344'619 0.47 429'772 30.09.2010 Investment AdvisorHENDERSON GLOBAL INV Multiple Portfolios MF-AGG 12'200'000 0.43 - 31.07.2010 Investment AdvisorEUROPEAN INVESTORS I EUROPEAN INVESTORS I 13F 9'803'108 0.35 6'000 30.09.2010 Investment AdvisorSTATE STREET CORP Multiple Portfolios MF-AGG 9'698'622 0.34 (35'296) 04.02.2011 Investment AdvisorLASALLE INVESTMENT M Multiple Portfolios MF-AGG 8'465'126 0.3 8'465'126 23.08.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan ROB STANTON neutral 3 M 2 12 month 08.02.2011Commonwealth Bank DAVID LLOYD buy 5 M 2 12 month 02.02.2011Credit Suisse ROWENA CAUSLEY neutral 3 M 2 Not Provided 24.01.2011Deutsche Bank MATTHEW BERTRAM hold 3 M 2 12 month 18.01.2011Morgan Stanley LOURENS PIRENC Overwt/In-Line 5 M 2 12 month 16.01.2011Macquarie PAUL JUNIPER outperform 5 M 2 12 month 11.01.2011Goldman Sachs & Partners Australia SIMON WHEATLEY buy 5 U 2 Not Provided 23.12.2010UBS TOM BODOR buy 5 U 2 12 month 13.12.2010Citi DAVID BURGESS buy 5 U 2 Not Provided 01.12.2010CLSA Asia Pacific Markets JOHN P KIM outperform 5 M 2 Not Provided 29.10.2010
EBITDA 873.10 Long-Term Rating Date 19.03.2007EBIT - Long-Term Rating BBB+Operating Margin 30.02% Long-Term Outlook STABLEPretax Margin 19.51% Short-Term Rating Date -Return on Assets 1.44% Short-Term Rating -Return on Common Equity 18.49%Return on Capital 2.65% EBITDA/Interest Exp. -Asset Turnover 0.08% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA 8.43Gross Margin - Total Debt/EBITDA 9.78EBITDA Margin 57.2%EBIT Margin - Total Debt/Equity 573.6%Net Income Margin 17.1% Total Debt/Capital 82.6%
Asset Turnover 0.08Current Ratio - Net Fixed Asset Turnover 20.52Quick Ratio - Accounts receivable turnover-days -Debt to Assets 47.86% Inventory Days -Tot Debt to Common Equity 573.62% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Challenger Ltd/AUPrice/Volume
Valuation Analysis
46'862'224.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeNATIONAL AUSTRALIA B n/a EXCH 39'761'472 7.85 5'056'268 10.01.2011 BankWESTPAC BANKING CORP n/a EXCH 34'712'028 6.86 - 16.09.2009 BankAMP LTD n/a EXCH 29'143'708 5.76 - 08.09.2009 Insurance CompanyCALEDONIA PRIVATE IN n/a EXCH 25'177'342 4.97 - 01.09.2010 n/aBLACKROCK INVESTMENT n/a EXCH 24'236'287 4.79 (2'919'772) 18.05.2010 Investment AdvisorCPU SHARE PLANS PTY n/a EXCH 21'133'050 4.17 (4'319'688) 14.09.2010 n/aROGAN PAUL F n/a Co File 3'720'000 0.73 - 30.06.2010 n/aHOWES RICHARD n/a Co File 3'500'000 0.69 - 30.06.2010 n/aWOODS ROBERT J n/a Co File 3'100'000 0.61 - 30.06.2010 n/aBENARI BRIAN ROLAND n/a Co File 3'000'000 0.59 - 30.06.2010 n/aMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 2'586'599 0.51 120'235 31.12.2010 Mutual Fund ManagerPRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 2'465'700 0.49 - 31.12.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'355'832 0.47 66'846 31.12.2010 Mutual Fund ManagerWELLS FARGO BANK NAT Multiple Portfolios MF-AGG 1'613'824 0.32 55'377 30.11.2010 Investment AdvisorPRINCIPAL LIFE INSUR PRINCIPAL LIFE INSUR Sch-D 1'426'624 0.28 730'291 30.06.2010 Insurance CompanyRCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 1'392'525 0.28 (163'096) 30.09.2010 Investment AdvisorSTEVENS DOMINIC J n/a EXCH 1'067'555 0.21 (2'000'000) 16.12.2010 n/aAMERIPRISE FINANCIAL Multiple Portfolios MF-AGG 823'624 0.16 15'721 30.11.2010 Investment AdvisorPRINCIPAL FINANCIAL Multiple Portfolios MF-AGG 808'121 0.16 (106'432) 30.12.2010 Investment AdvisorSANTANDER ASSET MANA Multiple Portfolios MF-AGG 605'063 0.12 - 31.12.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs & Partners Australia RYAN FISHER hold 3 M 5 Not Provided 07.02.2011RBS RICHARD COLES buy 5 M 5 12 month 02.02.2011Credit Suisse JOHN HEAGERTY outperform 5 M 6 Not Provided 25.01.2011Southern Cross LAFITANI SOTIRIOU buy 5 M 6 12 month 20.01.2011Deutsche Bank KIEREN CHIDGEY buy 5 M 5 12 month 10.01.2011UBS CHRIS WILLIAMS neutral 3 D 5 12 month 18.10.2010JPMorgan RUSSELL GILL overweight 5 M 5 6 month 18.10.2010Citi NIGEL PITTAWAY hold 3 D 5 Not Provided 18.10.2010Macquarie MICHAEL WIBLIN neutral 3 M 4 12 month 23.08.2010
Charter Hall Office REIT is a property trust with a property portfolio
consisting of office properties located throughout Australia and in the UnitedStates. The Trust invests in income-producing real estate used for commercialpurposes.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (20.06.2011) 3.7152-Week Low (30.09.2010) 2.44Daily Volume
EBITDA 169.70 Long-Term Rating Date -EBIT 83.20 Long-Term Rating -Operating Margin 28.73% Long-Term Outlook -Pretax Margin -48.96% Short-Term Rating Date -Return on Assets -2.25% Short-Term Rating -Return on Common Equity -4.19%Return on Capital -2.39% EBITDA/Interest Exp. 1.96Asset Turnover 0.07% (EBITDA-Capex)/Interest Exp. 1.78
Net Debt/EBITDA 6.57Gross Margin - Total Debt/EBITDA 8.35EBITDA Margin 58.6%EBIT Margin - Total Debt/Equity 68.5%Net Income Margin -31.3% Total Debt/Capital 40.6%
Asset Turnover 0.07Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 38.98% Inventory Days -Tot Debt to Common Equity 68.49% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Charter Hall Office REITPrice/Volume
Valuation Analysis
1'346'646.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeMACQUARIE GROUP LTD n/a EXCH 87'629'734 17.76 4'934'695 16.12.2010 Investment AdvisorORANGE CAPITAL MASTE n/a EXCH 30'228'745 6.13 5'099'127 17.01.2011 n/aAMP LTD n/a EXCH 20'787'090 4.21 (3'918'486) 14.10.2010 Insurance CompanyVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 16'338'914 3.31 6'677 31.12.2010 Mutual Fund ManagerLASALLE INVESTMENT M Multiple Portfolios MF-AGG 9'675'776 1.96 9'675'776 23.08.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 6'778'028 1.37 509'419 31.12.2010 Mutual Fund ManagerABN AMRO ASSET MGMT Multiple Portfolios MF-AGG 5'528'385 1.12 590'948 20.07.2010 Investment AdvisorGOLDMAN SACHS JBWERE Multiple Portfolios MF-AGG 4'747'991 0.96 124'551 15.07.2010 Investment AdvisorNIKKO ASSET MANAGEME Multiple Portfolios MF-AGG 3'918'935 0.79 3'724'278 16.08.2010 Mutual Fund ManagerGOLDMAN SACHS GROUP Multiple Portfolios MF-AGG 3'234'233 0.66 3'167'893 31.10.2010 Investment AdvisorSTATE STREET CORP Multiple Portfolios MF-AGG 2'462'306 0.5 - 04.02.2011 Investment AdvisorFORTIS INVESTMENTS Multiple Portfolios MF-AGG 2'186'718 0.44 105'968 30.09.2010 Mutual Fund ManagerLORD ABBETT & CO LLC Multiple Portfolios MF-AGG 2'142'281 0.43 2'142'281 30.12.2010 Investment AdvisorGRANTHAM MAYO VAN OT Multiple Portfolios MF-AGG 1'853'624 0.38 - 31.08.2010 Investment AdvisorDEUTSCHE BANK AG Multiple Portfolios MF-AGG 1'741'357 0.35 - 31.12.2010 Investment AdvisorT ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 1'737'100 0.35 (13'803) 31.12.2010 Investment AdvisorBLACKROCK ASSET MANA Multiple Portfolios MF-AGG 1'498'026 0.3 8'733 04.02.2011 Investment AdvisorPUTNAM INVESTMENT MA Multiple Portfolios MF-AGG 1'290'840 0.26 - 30.09.2010 Investment AdvisorDIAM CO LTD Multiple Portfolios MF-AGG 1'221'150 0.25 1'221'150 13.05.2010 Mutual Fund ManagerBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'103'610 0.22 - 04.02.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie PAUL CHECCHIN underperform 1 D 3 12 month 02.02.2011UBS JOHN FREEDMAN neutral 3 D 3 12 month 01.02.2011JPMorgan MICHAEL JOHN SCOTT underweight 1 D 3 12 month 01.02.2011Deutsche Bank IAN RANDALL hold 3 M 3 12 month 27.01.2011CLSA Asia Pacific Markets BRYAN HOWITT outperform 5 N 3 Not Provided 16.01.2011Goldman Sachs & Partners Australia PETER ZUK hold 3 M 3 Not Provided 14.01.2011Morgan Stanley TODD MCFARLANE Overwt/In-Line 5 M 3 12 month 11.01.2011Commonwealth Bank DAVID LLOYD sell 1 M 3 12 month 10.01.2011Credit Suisse STEPHEN RICH neutral 3 M 3 Not Provided 07.01.2011Citi DAVID BURGESS hold 3 M 3 Not Provided 01.12.2010
Coca-Cola Amatil Limited manufactures, distributes and sells carbonated soft
drinks along with still and mineral waters, fruit drinks, ready-to-drink coffeeand tea and flavored milk drinks. The Company also rents and services commercialrefrigeration equipment to food/beverage manufacturers.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (25.10.2010) 12.7452-Week Low (09.08.2011) 10.04Daily Volume
EBITDA 1'114.50 Long-Term Rating Date 16.07.2001EBIT 857.90 Long-Term Rating A-Operating Margin 19.11% Long-Term Outlook STABLEPretax Margin 15.62% Short-Term Rating Date 16.07.2001Return on Assets 9.17% Short-Term Rating A-2Return on Common Equity 28.97%Return on Capital 15.28% EBITDA/Interest Exp. 7.67Asset Turnover 0.83% (EBITDA-Capex)/Interest Exp. 5.33
Net Debt/EBITDA 1.42Gross Margin 44.9% Total Debt/EBITDA 1.77EBITDA Margin 24.8%EBIT Margin 19.1% Total Debt/Equity 107.4%Net Income Margin 11.1% Total Debt/Capital 51.8%
Asset Turnover 0.83Current Ratio 1.65 Net Fixed Asset Turnover 2.94Quick Ratio 0.88 Accounts receivable turnover-days 55.89Debt to Assets 37.30% Inventory Days 109.80Tot Debt to Common Equity 107.36% Accounts Payable Turnover Day 72.34Accounts Receivable Turnover 6.53 Cash Conversion Cycle 93.36Inventory Turnover 3.32
Fiscal Year Ended
Coca-Cola Amatil LtdPrice/Volume
Valuation Analysis
650'645.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan STUART JACKSON overweight 5 M 12 12 month 04.02.2011Nomura DAVID COOKE neutral 3 M 13 Not Provided 02.02.2011Credit Suisse LARRY GANDLER neutral 3 M 12 Not Provided 24.01.2011Macquarie GREG DRING outperform 5 M 12 12 month 12.01.2011Shaw Stockbroking SCOTT MARSHALL hold 3 M #N/A N/A Not Provided 11.01.2011Deutsche Bank PAUL VAN MEURS buy 5 U 12 12 month 06.01.2011Morgan Stanley MARTIN YULE Equalwt/Attractive 3 M 12 12 month 06.01.2011UBS LINDY NEWTON neutral 3 U 11 12 month 06.01.2011Goldman Sachs & Partners Australia IAN ABBOTT hold 3 M 13 Not Provided 06.01.2011E.L. & C. Baillieu SAM HADDAD accumulate 4 M 13 12 month 30.11.2010RBS HARRY THEODORE buy 5 M 14 12 month 19.11.2010Evans & Partners Pty Ltd PAUL RYAN neutral 3 M #N/A N/A Not Provided 03.11.2010Citi ANDREW BOWLEY hold 3 M 12 Not Provided 12.08.2010CLSA Asia Pacific Markets JAMES PATERSON outperform 5 N 12 Not Provided 08.06.2010
EBITDA 183.96 Long-Term Rating Date -EBIT 156.56 Long-Term Rating -Operating Margin 21.38% Long-Term Outlook -Pretax Margin 32.11% Short-Term Rating Date -Return on Assets 24.13% Short-Term Rating -Return on Common Equity 38.26%Return on Capital 32.16% EBITDA/Interest Exp. 21.23Asset Turnover 0.98% (EBITDA-Capex)/Interest Exp. 16.62
Net Debt/EBITDA -0.05Gross Margin 68.8% Total Debt/EBITDA 0.34EBITDA Margin 25.1%EBIT Margin 21.4% Total Debt/Equity 12.5%Net Income Margin 24.6% Total Debt/Capital 11.1%
Asset Turnover 0.98Current Ratio 1.92 Net Fixed Asset Turnover 12.31Quick Ratio 1.07 Accounts receivable turnover-days 81.11Debt to Assets 8.51% Inventory Days 168.16Tot Debt to Common Equity 12.53% Accounts Payable Turnover Day 123.52Accounts Receivable Turnover 4.50 Cash Conversion Cycle 125.75Inventory Turnover 2.17
Fiscal Year Ended
Cochlear LtdPrice/Volume
Valuation Analysis
747'650.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie CRAIG COLLIE neutral 3 M 74 12 month 08.02.2011Wilson HTM Investment Group SHANE STOREY hold 3 M 86 Not Provided 07.02.2011Morgan Stanley SEAN LAAMAN Equalwt/Cautious 3 M 67 12 month 04.02.2011Credit Suisse SAUL HADASSIN neutral 3 M 88 Not Provided 04.02.2011JPMorgan STEVEN D WHEEN neutral 3 M 73 12 month 01.02.2011RBS DEREK JELLINEK hold 3 M 75 12 month 25.01.2011Deutsche Bank DAVID A LOW hold 3 M 80 12 month 25.01.2011Citi ALEXANDER SMITH sell 1 D 72 Not Provided 19.01.2011Commonwealth Bank NATALIE KELLY hold 3 M 79 12 month 19.01.2011Nomura DAVID STANTON buy 5 M 89 Not Provided 18.01.2011Goldman Sachs & Partners Australia IAN ABBOTT hold 3 M 76 Not Provided 11.01.2011UBS ANDREW GOODSALL neutral 3 D 82 12 month 06.01.2011LINWAR Securities JOHN HESTER market perform 3 M 72 12 month 03.12.2010E.L. & C. Baillieu GAVIN DUFFY buy 5 M 80 12 month 24.11.2010CLSA Asia Pacific Markets HEMANT BAKHRU outperform 5 M 73 Not Provided 29.10.2010Southern Cross STUART ROBERTS accumulate 4 D 71 12 month 10.08.2010
Commonwealth Bank of Australia provides banking, life insurance and related
services for individuals, small businesses and medium sized commercialenterprises. The Bank provides corporate and general banking, internationalfinancing, institutional banking and stock broking and funds management such assuperannuation product.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (11.02.2011) 55.7752-Week Low (09.08.2011) 43.41Daily Volume
EBITDA - Long-Term Rating Date 22.02.2007EBIT - Long-Term Rating AAOperating Margin 42.48% Long-Term Outlook STABLEPretax Margin 42.08% Short-Term Rating Date 13.06.1996Return on Assets 0.97% Short-Term Rating A-1+Return on Common Equity 17.69%Return on Capital 3.12% EBITDA/Interest Exp. -Asset Turnover 0.07% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 437.1%Net Income Margin 29.7% Total Debt/Capital 81.2%
Asset Turnover 0.07Current Ratio - Net Fixed Asset Turnover 19.60Quick Ratio - Accounts receivable turnover-days -Debt to Assets 24.06% Inventory Days -Tot Debt to Common Equity 437.08% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Commonwealth Bank of AustraliaPrice/Volume
Valuation Analysis
5'830'621.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK INVESTMENT n/a EXCH 61'530'176 3.97 - 31.03.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 41'975'383 2.71 - 27.01.2011 BankBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 15'271'054 0.99 - 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 12'700'200 0.82 161'019 31.12.2010 Investment AdvisorAMP LIFE LTD n/a Co File 11'330'429 0.73 - 06.08.2010 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 8'473'000 0.55 - 30.06.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 7'889'229 0.51 250'642 31.12.2010 Mutual Fund ManagerBOND STREET CUSTODIA n/a Co File 4'905'305 0.32 - 06.08.2010 OtherQUEENSLAND INVESTMEN n/a Co File 4'405'934 0.28 - 06.08.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 3'839'533 0.25 (80'769) 31.12.2010 Mutual Fund ManagerAUSTRALIAN REWARD IN n/a Co File 3'795'781 0.25 - 06.08.2010 OtherPERPETUAL TRUSTEE CO n/a Co File 3'211'879 0.21 - 06.08.2010 n/aFIDELITY INTERNATION Multiple Portfolios MF-AGG 2'641'348 0.17 (363'298) 30.06.2010 Investment AdvisorINVIA CUSTODIAN PTY n/a Co File 2'516'548 0.16 - 06.08.2010 Investment AdvisorTASMAN ASSET MANAGEM n/a Co File 2'501'887 0.16 - 06.08.2010 n/aARGO INVESTMENTS LTD n/a Co File 2'347'895 0.15 - 06.08.2010 Investment AdvisorMILTON CORP LTD n/a Co File 2'250'879 0.15 - 06.08.2010 Investment AdvisorSUNCORP CUSTODIAN SE n/a Co File 2'062'211 0.13 - 06.08.2010 n/aFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 1'908'604 0.12 14'120 31.12.2010 Investment AdvisorSJUNDE AP FONDEN Multiple Portfolios MF-AGG 1'574'560 0.1 32'646 30.09.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse JARROD MARTIN neutral 3 M 56 Not Provided 08.02.2011JPMorgan SCOTT MANNING underweight 1 M 55 12 month 07.02.2011Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT underperform 1 M 52 Not Provided 07.02.2011RBS ANDREW LYONS hold 3 M 53 12 month 02.02.2011Deutsche Bank JAMES FREEMAN hold 3 M 50 12 month 01.02.2011Goldman Sachs & Partners Australia BENJAMIN KOO buy 5 M 63 Not Provided 01.02.2011Nomura VICTOR GERMAN neutral 3 M 50 Not Provided 01.02.2011Morgan Stanley RICHARD E WILES Underwt/Cautious 1 M 48 12 month 28.01.2011Macquarie CRAIG TURTON neutral 3 M 51 12 month 19.01.2011Keefe, Bruyette & Woods BILL STACEY underperform 1 N 53 Not Provided 17.01.2011BBY Limited BRETT LE MESURIER hold 3 M 55 12 month 13.12.2010Citi CRAIG WILLIAMS hold 3 M 52 Not Provided 03.12.2010Southern Cross TS LIM reduce 2 M 51 12 month 02.12.2010CLSA Asia Pacific Markets BRIAN D JOHNSON outperform 5 M 50 Not Provided 24.11.2010UBS JONATHAN MOTT neutral 3 D 54 12 month 11.08.2010Shaw Stockbroking TIM BUCKLEY accumulate 4 M #N/A N/A Not Provided 18.01.2010
Shares Out 01.09.2011 2'458.1 Short Int 35.682'298.35 1 Yr Total Return 4.30%
Total Debt 933.30 YTD Return 15.93%Preferred Stock 0.0 Adjusted BETA 0.768Minority Interest 0.0 Analyst Recs 12Cash and Equivalents 5.50 Consensus Rating 2.833Enterprise Value 3'226.15
Average Volume 5 Day 18'051'270CPA AT EQUITY YTD Change - Average Volume 30 Day 12'645'980CPA AT EQUITY YTD % CHANGE - Average Volume 3 Month 13'022'580
EBITDA 200.80 Long-Term Rating Date 31.08.2007EBIT 135.10 Long-Term Rating A-Operating Margin 43.50% Long-Term Outlook STABLEPretax Margin 63.65% Short-Term Rating Date 10.08.2004Return on Assets 5.67% Short-Term Rating A-2Return on Common Equity 7.94%Return on Capital 5.98% EBITDA/Interest Exp. 3.07Asset Turnover 0.09% (EBITDA-Capex)/Interest Exp. -6.11
Net Debt/EBITDA 4.62Gross Margin - Total Debt/EBITDA 4.65EBITDA Margin 64.6%EBIT Margin - Total Debt/Equity 34.5%Net Income Margin 63.7% Total Debt/Capital 25.6%
Asset Turnover 0.09Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 24.17% Inventory Days -Tot Debt to Common Equity 34.47% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Commonwealth Property Office FundPrice/Volume
Valuation Analysis
6'287'102.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCOMMONWEALTH BANK OF n/a EXCH 258'373'959 10.55 15'230'386 30.11.2010 BankING GROEP NV n/a EXCH 134'163'194 5.48 31'770'605 19.07.2010 Investment AdvisorCOHEN & STEERS CAPIT n/a EXCH 125'112'626 5.11 22'780'729 25.05.2010 Investment AdvisorMORGAN STANLEY & CO n/a EXCH 123'697'916 5.05 - 05.01.2011 Investment AdvisorMONDRIAN INVESTMENT n/a EXCH 121'787'543 4.97 20'180'975 29.10.2010 Hedge Fund ManagerVANGUARD GROUP INC n/a EXCH 100'736'461 4.11 - 22.02.2010 Investment AdvisorAMP LTD n/a EXCH 99'407'867 4.06 (4'333'761) 10.05.2010 Insurance CompanyVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 91'167'850 3.72 2'231'140 31.12.2010 Mutual Fund ManagerING CLARION REAL EST Multiple Portfolios MF-AGG 47'791'708 1.95 479'608 20.07.2010 Investment AdvisorLASALLE INVESTMENT M Multiple Portfolios MF-AGG 39'604'902 1.62 39'604'902 23.08.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 36'948'413 1.51 9'399'010 31.12.2010 Mutual Fund ManagerNOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 28'964'470 1.18 (1'528'000) 22.06.2010 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 26'475'000 1.08 - 30.06.2010 Investment AdvisorCOLONIAL FIRST STATE Multiple Portfolios MF-AGG 23'498'899 0.96 - 09.08.2010 Investment AdvisorNIKKO ASSET MANAGEME Multiple Portfolios MF-AGG 14'882'389 0.61 4'725'907 16.08.2010 Mutual Fund ManagerSTATE STREET CORP Multiple Portfolios MF-AGG 13'460'495 0.55 - 04.02.2011 Investment AdvisorAMERIPRISE FINANCIAL Multiple Portfolios MF-AGG 13'053'005 0.53 710'202 30.11.2010 Investment AdvisorGOLDMAN SACHS GROUP Multiple Portfolios MF-AGG 7'985'886 0.33 1'994'841 31.10.2010 Investment AdvisorBLACKROCK ASSET MANA Multiple Portfolios MF-AGG 7'108'836 0.29 41'262 04.02.2011 Investment AdvisorSCHRODER INVESTMENT Multiple Portfolios MF-AGG 7'003'617 0.29 - 30.09.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan MICHAEL JOHN SCOTT overweight 5 M 1 12 month 03.02.2011Macquarie PAUL CHECCHIN neutral 3 M 1 12 month 02.02.2011Citi DAVID BURGESS hold 3 D 1 Not Provided 28.01.2011Deutsche Bank IAN RANDALL buy 5 U 1 12 month 26.01.2011Credit Suisse ROWENA CAUSLEY neutral 3 M 1 Not Provided 24.01.2011Goldman Sachs & Partners Australia PETER ZUK hold 3 M 1 Not Provided 14.01.2011LINWAR Securities RICHARD GEORGE underperform 1 M 1 12 month 13.01.2011Commonwealth Bank DAVID LLOYD hold 3 M 1 12 month 10.01.2011UBS GRANT MCCASKER neutral 3 M 1 12 month 06.12.2010CLSA Asia Pacific Markets BRYAN HOWITT underperform 1 M 1 Not Provided 12.11.2010Morgan Stanley TODD MCFARLANE Underwt/In-Line 1 M 1 12 month 11.11.2010
Computershare Limited operates share registries and computer bureaus which
includes the administration of employee share and option plans and the provisionof software that specializes in share registry, financial and stock markets.The Company also provides corporate trust services and acts as a trustee forclients' debt offerings in certain markets.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (19.01.2011) 11.3752-Week Low (09.08.2011) 6.55Daily Volume
EBITDA 468.48 Long-Term Rating Date -EBIT 386.43 Long-Term Rating -Operating Margin 24.17% Long-Term Outlook -Pretax Margin 23.04% Short-Term Rating Date -Return on Assets 9.49% Short-Term Rating -Return on Common Equity 23.05%Return on Capital 13.53% EBITDA/Interest Exp. 14.36Asset Turnover 0.57% (EBITDA-Capex)/Interest Exp. 13.64
Net Debt/EBITDA 1.42Gross Margin - Total Debt/EBITDA 2.16EBITDA Margin 29.3%EBIT Margin 24.2% Total Debt/Equity 82.4%Net Income Margin 16.5% Total Debt/Capital 44.9%
Asset Turnover 0.57Current Ratio 1.36 Net Fixed Asset Turnover 10.66Quick Ratio 1.20 Accounts receivable turnover-days 60.81Debt to Assets 35.27% Inventory Days -Tot Debt to Common Equity 82.37% Accounts Payable Turnover Day -Accounts Receivable Turnover 6.00 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Computershare LtdPrice/Volume
Valuation Analysis
2'147'021.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse JOHN HEAGERTY outperform 5 M 12 Not Provided 07.02.2011RBS RICHARD COLES hold 3 M 10 12 month 02.02.2011UBS CHRIS WILLIAMS sell 1 M 10 12 month 02.02.2011Wilson HTM Investment Group ANDREW HILLS buy 5 M 11 Not Provided 27.01.2011Macquarie MICHAEL WIBLIN underperform 1 D 9 12 month 19.01.2011Deutsche Bank KIEREN CHIDGEY hold 3 M 10 12 month 22.11.2010Goldman Sachs & Partners Australia RYAN FISHER buy 5 M 12 Not Provided 10.11.2010JPMorgan RUSSELL GILL overweight 5 M 10 6 month 09.11.2010E.L. & C. Baillieu IVOR RIES buy 5 M 14 12 month 20.10.2010
ConnectEast Group operates in the transportation industry. The Company performs
civil construction such as roads, tollways, bridges, tunnels and otherinfrastructure project. ConnectEast's also provides the operation andmaintenance of the Eastlink Freeway.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (22.07.2011) 0.5552-Week Low (05.10.2010) 0.42Daily Volume
Shares Out 30.06.2011 3'940.1 Short Int 11.111'891.27 1 Yr Total Return 16.73%
Total Debt 1'214.40 YTD Return 15.42%Preferred Stock 0.0 Adjusted BETA 0.881Minority Interest 0.0 Analyst Recs 12Cash and Equivalents 164.85 Consensus Rating 2.750Enterprise Value 2'940.82
Average Volume 5 Day 36'043'890CEU AT EQUITY YTD Change - Average Volume 30 Day 20'251'950CEU AT EQUITY YTD % CHANGE - Average Volume 3 Month 20'209'720
EBITDA 133.15 Long-Term Rating Date -EBIT 40.85 Long-Term Rating -Operating Margin 19.55% Long-Term Outlook -Pretax Margin -23.87% Short-Term Rating Date -Return on Assets -0.32% Short-Term Rating -Return on Common Equity -0.56%Return on Capital - EBITDA/Interest Exp. 1.43Asset Turnover 0.07% (EBITDA-Capex)/Interest Exp. 1.41
Net Debt/EBITDA 7.88Gross Margin - Total Debt/EBITDA 9.12EBITDA Margin 63.7%EBIT Margin 19.6% Total Debt/Equity 68.0%Net Income Margin -4.9% Total Debt/Capital 40.5%
Asset Turnover 0.07Current Ratio 2.06 Net Fixed Asset Turnover 20.11Quick Ratio 1.95 Accounts receivable turnover-days 5.68Debt to Assets 38.63% Inventory Days -Tot Debt to Common Equity 68.00% Accounts Payable Turnover Day -Accounts Receivable Turnover 64.21 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
ConnectEast GroupPrice/Volume
Valuation Analysis
11'614'590.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCP2 LTD n/a EXCH 1'379'051'082 35 62'056'512 15.12.2010 Investment AdvisorGUARDIANS OF NZ SUPE n/a EXCH 362'702'324 9.21 78'764'897 29.10.2010 OtherLAZARD ASSET MANAGEM n/a EXCH 278'866'559 7.08 (40'090'571) 02.12.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 212'330'627 5.39 - 09.09.2009 BankSUNCORP METWAY INVES n/a EXCH 177'462'012 4.5 (42'422'598) 09.10.2009 BankLEIGHTON GROUP n/a EXCH 130'401'919 3.31 - 09.09.2009 CorporationMAPLE-BROWN ABBOTT L n/a EXCH 75'438'615 1.91 (545'477) 17.03.2008 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 20'326'105 0.52 51'975 31.12.2010 Mutual Fund ManagerBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 14'002'053 0.36 - 04.02.2011 Investment AdvisorFIRST STATE INVESTME Multiple Portfolios MF-AGG 13'415'743 0.34 2'091'426 31.08.2010 Investment AdvisorLAZARD GLOBAL ACTIVE Multiple Portfolios MF-AGG 8'469'014 0.21 455'900 31.12.2010 Investment AdvisorLAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 7'950'823 0.2 - 31.12.2010 Investment AdvisorFRANKLIN RESOURCES I Multiple Portfolios MF-AGG 4'386'420 0.11 (445'402) 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 3'203'579 0.08 (80'231) 31.12.2010 Mutual Fund ManagerBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 2'956'699 0.08 - 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 2'601'585 0.07 - 31.12.2010 Investment AdvisorSTATE STREET CORP Multiple Portfolios MF-AGG 2'412'398 0.06 - 04.02.2011 Investment AdvisorFIRST STATE INVESTME Multiple Portfolios MF-AGG 1'719'917 0.04 283'808 30.09.2010 Mutual Fund ManagerSMARTSHARES LIMITED Multiple Portfolios MF-AGG 1'264'515 0.03 37'563 31.03.2010 Investment AdvisorUBS STRATEGY FUND MG Multiple Portfolios MF-AGG 1'174'010 0.03 - 29.10.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank CAMERON MCDONALD hold 3 M 0 12 month 08.02.2011Wilson HTM Investment Group NATHAN LEAD buy 5 M 1 Not Provided 30.01.2011CLSA Asia Pacific Markets SCOTT RYALL outperform 5 N 1 Not Provided 28.01.2011Macquarie IAN MYLES neutral 3 M 0 12 month 27.01.2011Commonwealth Bank PAUL JOHNSTON hold 3 M 0 12 month 27.01.2011UBS XU HAN neutral 3 M 0 12 month 17.01.2011JPMorgan KIRSTY MACKAY-FISHER overweight 5 M 1 12 month 07.01.2011Goldman Sachs & Partners Australia JONATHAN COLLETT sell 1 M 0 Not Provided 07.12.2010Austock Securities ANDREW CHAMBERS buy 5 M 1 Not Provided 07.12.2010LINWAR Securities STUART TURNER outperform 5 M 1 12 month 16.11.2010Morgan Stanley SCOTT KELLY Underwt/In-Line 1 D 0 12 month 28.10.2010Evans & Partners Pty Ltd TONY WILSON neutral 3 D #N/A N/A Not Provided 11.10.2010RBS LUKE MACNAB hold 3 M 0 12 month 18.08.2010
EBITDA 636.51 Long-Term Rating Date 03.12.2007EBIT 440.90 Long-Term Rating BBBOperating Margin 18.53% Long-Term Outlook STABLEPretax Margin 17.11% Short-Term Rating Date 02.10.2009Return on Assets 6.72% Short-Term Rating A-2Return on Common Equity 10.06%Return on Capital 9.26% EBITDA/Interest Exp. 7.36Asset Turnover 0.48% (EBITDA-Capex)/Interest Exp. 3.30
Net Debt/EBITDA 1.39Gross Margin 95.0% Total Debt/EBITDA 1.68EBITDA Margin 26.8%EBIT Margin 18.5% Total Debt/Equity 32.8%Net Income Margin 14.1% Total Debt/Capital 24.7%
Asset Turnover 0.48Current Ratio 0.87 Net Fixed Asset Turnover 0.98Quick Ratio 0.77 Accounts receivable turnover-days 18.24Debt to Assets 21.29% Inventory Days 52.48Tot Debt to Common Equity 32.80% Accounts Payable Turnover Day 795.72Accounts Receivable Turnover 20.01 Cash Conversion Cycle -725.00Inventory Turnover 6.96
Fiscal Year Ended
Crown LtdPrice/Volume
Valuation Analysis
1'645'762.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
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Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank MARK WILSON buy 5 M 10 12 month 04.02.2011Goldman Sachs & Partners Australia ADAM ALEXANDER buy 5 M 10 Not Provided 02.02.2011RBS HARRY THEODORE hold 3 M 9 12 month 01.02.2011Macquarie ANDREW LEVY outperform 5 M 9 12 month 01.02.2011JPMorgan STUART JACKSON overweight 5 U 9 6 month 13.01.2011CLSA Asia Pacific Markets SACHA KRIEN outperform 5 M 10 Not Provided 13.01.2011UBS SAM THEODORE buy 5 M 11 12 month 02.12.2010Austock Securities ROHAN SUNDRAM buy 5 M 10 Not Provided 30.11.2010Credit Suisse LARRY GANDLER outperform 5 M 10 Not Provided 04.11.2010Citi JENNY OWEN buy 5 M 10 Not Provided 26.08.2010
CSL Limited develops, manufactures and markets human pharmaceutical and
diagnostic products derived from human plasma. The Company's products includepediatric and adult vaccines, infection and pain medicine, skin disorderremedies, antivenoms, anticoagulants and immunoglobulins.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (27.01.2011) 38.0752-Week Low (14.09.2011) 26.12Daily Volume
EBITDA 1'428.84 Long-Term Rating Date -EBIT 1'256.20 Long-Term Rating -Operating Margin 30.00% Long-Term Outlook -Pretax Margin 28.61% Short-Term Rating Date -Return on Assets 17.45% Short-Term Rating -Return on Common Equity 23.94%Return on Capital 21.79% EBITDA/Interest Exp. 98.67Asset Turnover 0.78% (EBITDA-Capex)/Interest Exp. 84.96
Net Debt/EBITDA -0.05Gross Margin 49.2% Total Debt/EBITDA 0.29EBITDA Margin 34.1%EBIT Margin 30.0% Total Debt/Equity 11.4%Net Income Margin 22.5% Total Debt/Capital 10.3%
Asset Turnover 0.78Current Ratio 2.92 Net Fixed Asset Turnover 3.47Quick Ratio 1.26 Accounts receivable turnover-days 65.94Debt to Assets 8.21% Inventory Days 249.52Tot Debt to Common Equity 11.42% Accounts Payable Turnover Day 38.97Accounts Receivable Turnover 5.54 Cash Conversion Cycle 276.48Inventory Turnover 1.46
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
CSL LtdPrice/Volume
Valuation Analysis
4'982'348.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse SAUL HADASSIN neutral 3 M 40 Not Provided 04.02.2011Nomura DAVID STANTON buy 5 M 42 Not Provided 04.02.2011Wilson HTM Investment Group SHANE STOREY buy 5 M 38 Not Provided 28.01.2011Morgan Stanley SEAN LAAMAN Equalwt/In-Line 3 M 33 12 month 27.01.2011RBS DEREK JELLINEK hold 3 M 35 12 month 25.01.2011Deutsche Bank DAVID A LOW hold 3 M 33 12 month 25.01.2011JPMorgan STEVEN D WHEEN neutral 3 M 41 12 month 24.01.2011Citi ALEXANDER SMITH hold 3 M 40 Not Provided 19.01.2011Commonwealth Bank NATALIE KELLY buy 5 M 41 12 month 19.01.2011Goldman Sachs & Partners Australia IAN ABBOTT hold 3 M 39 Not Provided 18.01.2011Macquarie CRAIG COLLIE neutral 3 M 38 12 month 30.11.2010Shaw Stockbroking MATTHIJS SMITH buy 5 M #N/A N/A Not Provided 30.11.2010LINWAR Securities JOHN HESTER underperform 1 N 32 12 month 11.11.2010UBS ANDREW GOODSALL buy 5 M 43 12 month 05.11.2010CLSA Asia Pacific Markets HEMANT BAKHRU outperform 5 M 41 Not Provided 29.10.2010E.L. & C. Baillieu GAVIN DUFFY buy 5 U 38 12 month 28.09.2010Southern Cross STUART ROBERTS buy 5 M 36 12 month 18.08.2010
CSR Limited manufactures and supplies buildings products such as plasterboard,
fiber cement, clay bricks, roof tiles and insulation. CSR also manufacturesrefined sugar and produces raw sugar, ethanol and renewable electricity. Inaddition, CSR has aluminum smelting operations along with property developmentand leasing.
Latest Fiscal Year: 03/2011LTM as of: 01/yy52-Week High (11.10.2010) 3.8952-Week Low (09.08.2011) 2.20Daily Volume
EBITDA 323.40 Long-Term Rating Date 08.02.2011EBIT 181.60 Long-Term Rating BBB+Operating Margin 9.49% Long-Term Outlook STABLEPretax Margin -3.37% Short-Term Rating Date 30.05.2005Return on Assets 16.53% Short-Term Rating NRReturn on Common Equity 34.52%Return on Capital - EBITDA/Interest Exp. 8.86Asset Turnover 0.63% (EBITDA-Capex)/Interest Exp. 4.94
Net Debt/EBITDA -0.43Gross Margin 30.9% Total Debt/EBITDA 0.01EBITDA Margin 16.9%EBIT Margin 9.5% Total Debt/Equity 0.4%Net Income Margin 26.3% Total Debt/Capital 0.3%
Asset Turnover 0.63Current Ratio 1.77 Net Fixed Asset Turnover 1.13Quick Ratio 0.83 Accounts receivable turnover-days 61.38Debt to Assets 0.20% Inventory Days 101.78Tot Debt to Common Equity 0.36% Accounts Payable Turnover Day 79.91Accounts Receivable Turnover 5.95 Cash Conversion Cycle 83.25Inventory Turnover 3.59
Fiscal Year Ended
CSR LtdPrice/Volume
Valuation Analysis
1'122'885.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
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Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeNATIONAL AUSTRALIA B #N/A N/A EXCH 94'111'146 6.2 15'335'192 02.02.2011 BankUBS AG n/a EXCH 80'512'509 5.3 - 12.01.2010 Investment AdvisorMAPLE-BROWN ABBOTT L n/a Co File 80'500'000 5.3 - 17.05.2010 Investment AdvisorBLACKROCK INVESTMENT n/a EXCH 72'855'107 4.8 (151'670) 25.02.2010 Investment AdvisorPERPETUAL LTD n/a EXCH 72'065'902 4.75 (4'227'284) 09.12.2010 Investment AdvisorIOOF HOLDINGS LTD n/a EXCH 69'057'084 4.55 (7'322'010) 17.02.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 14'454'348 0.95 - 31.12.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 12'319'280 0.81 (91'912) 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 7'811'253 0.51 1'535'785 31.12.2010 Mutual Fund ManagerVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 7'756'404 0.51 267'142 31.12.2010 Mutual Fund ManagerAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 7'337'000 0.48 - 30.06.2010 Investment AdvisorMACKENZIE FINANCIAL Multiple Portfolios MF-AGG 5'600'800 0.37 - 31.10.2010 Investment AdvisorJP MORGAN CHASE & CO Multiple Portfolios MF-AGG 3'703'873 0.24 - 30.11.2010 Investment AdvisorMAPS INVESTMENT MANA Multiple Portfolios MF-AGG 2'433'842 0.16 2'433'842 30.09.2010 Mutual Fund ManagerBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 1'634'284 0.11 2'180 04.02.2011 Investment AdvisorMORGAN STANLEY & CO Multiple Portfolios MF-AGG 1'538'746 0.1 (296'956) 30.09.2010 Investment AdvisorSJUNDE AP FONDEN Multiple Portfolios MF-AGG 1'354'729 0.09 56'589 30.09.2010 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 1'262'250 0.08 - 31.12.2010 Investment AdvisorING INVESTMENT MANAG Multiple Portfolios MF-AGG 969'649 0.06 879'073 30.09.2010 Investment AdvisorEMERGING LEADERS INV n/a EXCH 941'400 0.06 - 30.06.2009 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
UBS DAVID LEITCH buy 5 U 2 12 month 04.02.2011Goldman Sachs & Partners Australia MATTHEW MCNEE hold 3 M 2 Not Provided 04.02.2011Commonwealth Bank MICHAEL WARD buy 5 M 2 12 month 31.01.2011Deutsche Bank EMILY BEHNCKE buy 5 M 2 12 month 28.01.2011RBS ANDREW G SCOTT buy 5 M 2 12 month 17.01.2011Citi HUGH DIVE sell 1 M 1 Not Provided 13.01.2011Credit Suisse ROHAN GALLAGHER neutral 3 M 2 Not Provided 10.01.2011Macquarie DOUGLAS MACPHILLAMY outperform 5 M 2 12 month 10.01.2011Paterson Securities BEN KAKOSCHKE buy 5 M 2 12 month 07.01.2011JPMorgan KEITH CHAU neutral 3 M 1 9 month 16.12.2010E.L. & C. Baillieu SIMON DUMARESQ buy 5 M 2 12 month 16.12.2010Nomura SIMON THACKRAY buy 5 M 2 Not Provided 03.11.2010LINWAR Securities RICHARD GEORGE outperform 5 M 2 12 month 17.05.2010
David Jones Limited is a department store retailer operating under the David
Jones name with stores located throughout Australia. David Jones also conductsa credit card business under David Jones Credit Card and operates the DavidJones Warehouse store which is a clearance center store.
Latest Fiscal Year: 07/2010LTM as of: 01/yy52-Week High (21.09.2010) 5.2552-Week Low (09.08.2011) 2.44Daily Volume
EBITDA 241.44 Long-Term Rating Date -EBIT 197.63 Long-Term Rating -Operating Margin 9.63% Long-Term Outlook -Pretax Margin 11.79% Short-Term Rating Date -Return on Assets 14.72% Short-Term Rating -Return on Common Equity 23.90%Return on Capital 21.53% EBITDA/Interest Exp. 32.76Asset Turnover 1.77% (EBITDA-Capex)/Interest Exp. 22.07
Net Debt/EBITDA 0.36Gross Margin 39.7% Total Debt/EBITDA 0.43EBITDA Margin 11.8%EBIT Margin 9.6% Total Debt/Equity 14.0%Net Income Margin 8.3% Total Debt/Capital 12.3%
Asset Turnover 1.77Current Ratio 1.05 Net Fixed Asset Turnover 2.76Quick Ratio 0.08 Accounts receivable turnover-days 1.47Debt to Assets 8.70% Inventory Days 79.03Tot Debt to Common Equity 13.97% Accounts Payable Turnover Day 36.68Accounts Receivable Turnover 251.91 Cash Conversion Cycle 43.83Inventory Turnover 4.69
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
David Jones LtdPrice/Volume
Valuation Analysis
3'228'322.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank ALEXI BAKER-MCLENNAN buy 5 M 6 12 month 07.02.2011Nomura NICK BERRY neutral 3 M 5 Not Provided 02.02.2011Goldman Sachs & Partners Australia PHILLIP KIMBER buy 5 M 6 Not Provided 17.01.2011RBS DANIEL BROEREN hold 3 M 5 12 month 12.01.2011Credit Suisse GRANT SALIGARI neutral 3 U 5 Not Provided 10.01.2011Macquarie CHARLOTTE LANG outperform 5 M 5 12 month 20.12.2010Morgan Stanley THOMAS KIERATH Underwt/In-Line 1 M 4 12 month 18.11.2010JPMorgan SHAUN COUSINS neutral 3 M 5 6 month 18.11.2010Citi CRAIG WOOLFORD buy 5 U 5 Not Provided 18.11.2010Commonwealth Bank ANDREW MCLENNAN hold 3 M 5 12 month 18.11.2010Paterson Securities RUSSELL WRIGHT hold 3 M 5 12 month 18.11.2010Southern Cross PARESH PATEL accumulate 4 M 5 12 month 18.11.2010Foster Stockbroking TEAM COVERAGE buy 5 N 6 Not Provided 14.09.2010Evans & Partners Pty Ltd TONY WILSON Positive 4 M #N/A N/A Not Provided 23.08.2010UBS BEN GILBERT neutral 3 M 5 12 month 18.08.2010CLSA Asia Pacific Markets JAMES PATERSON underperform 1 N 4 Not Provided 28.05.2010Austock Securities THOMAS HODSON buy 5 U 6 Not Provided 09.02.2010
Dexus Property Group is a property trust that manages and invests in a portfolio
of diversified properties including office and industrial properties, retailshopping centers and car parks. The Trust's properties are located inAustralia, New Zealand and the United States.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (08.06.2011) 0.9352-Week Low (09.08.2011) 0.74Daily Volume
Shares Out 21.02.2011 4'839.0 Short Int 6.093'968.00 1 Yr Total Return 2.43%
Total Debt 2'240.08 YTD Return 6.15%Preferred Stock 0.0 Adjusted BETA 0.768Minority Interest 205.3 Analyst Recs 11Cash and Equivalents 64.42 Consensus Rating 3.909Enterprise Value 6'305.93
Average Volume 5 Day 31'674'730DXS AT EQUITY YTD Change - Average Volume 30 Day 31'395'720DXS AT EQUITY YTD % CHANGE - Average Volume 3 Month 25'497'320
EBITDA 463.03 Long-Term Rating Date 04.07.2006EBIT 381.42 Long-Term Rating BBB+Operating Margin 53.26% Long-Term Outlook STABLEPretax Margin 0.22% Short-Term Rating Date 04.07.2006Return on Assets 0.39% Short-Term Rating A-2Return on Common Equity 0.65%Return on Capital 0.42% EBITDA/Interest Exp. 3.88Asset Turnover 0.09% (EBITDA-Capex)/Interest Exp. -0.02
Net Debt/EBITDA 4.70Gross Margin - Total Debt/EBITDA 4.84EBITDA Margin 64.7%EBIT Margin - Total Debt/Equity 46.7%Net Income Margin 4.4% Total Debt/Capital 30.9%
Asset Turnover 0.09Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 28.46% Inventory Days -Tot Debt to Common Equity 46.66% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Dexus Property GroupPrice/Volume
Valuation Analysis
9'958'414.00Current Price (9/dd/yy) Market Data
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M -' d -' 8 -' d -' a -' a -' 8 -' m -' j -' f -' 9 -' a -- M --!' 7-'!' 7.'!' 70'!' 71'!' 72'!' 73'!' 74'!' 75'!' 76'!' 7
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeING GROEP NV n/a EXCH 388'416'434 8.03 (76'520'225) 28.01.2011 Investment AdvisorBARCLAYS GLOBAL INVE n/a Co File 294'028'773 6.08 - 18.08.2010 Investment AdvisorCOHEN & STEERS CAPIT n/a EXCH 291'659'124 6.03 49'943'641 03.11.2010 Investment AdvisorVANGUARD GROUP INC n/a EXCH 291'537'480 6.02 56'164'811 28.10.2010 Investment AdvisorBLACKROCK INVESTMENT n/a Co File 275'099'167 5.69 - 18.08.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 240'908'223 4.98 (33'327'815) 22.10.2010 BankLA SALLE INV MGMT (S n/a EXCH 226'560'630 4.68 - 22.11.2010 n/aVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 192'005'680 3.97 54'076 31.12.2010 Mutual Fund ManagerLASALLE INVESTMENT M Multiple Portfolios MF-AGG 142'475'527 2.94 41'005'271 23.08.2010 Investment AdvisorING CLARION REAL EST Multiple Portfolios MF-AGG 110'152'798 2.28 (944'576) 31.12.2010 Investment AdvisorNOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 103'304'594 2.13 (83'543) 22.06.2010 Investment AdvisorCOLONIAL FIRST STATE Multiple Portfolios MF-AGG 96'334'581 1.99 (4'804'849) 09.08.2010 Investment AdvisorTHORNBURG INVESTMENT Multiple Portfolios MF-AGG 78'947'249 1.63 - 30.11.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 77'857'305 1.61 12'946'228 31.12.2010 Mutual Fund ManagerING INVESTMENT MANAG Multiple Portfolios MF-AGG 64'172'742 1.33 1'151'119 30.09.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 51'746'138 1.07 - 04.02.2011 Investment AdvisorMORGAN STANLEY & CO Multiple Portfolios MF-AGG 33'592'700 0.69 1'035'901 30.09.2010 Investment AdvisorABN AMRO ASSET MGMT Multiple Portfolios MF-AGG 33'115'668 0.68 - 20.07.2010 Investment AdvisorSTATE STREET CORP Multiple Portfolios MF-AGG 27'417'776 0.57 245'590 04.02.2011 Investment AdvisorUNION INVESTMENT GMB Multiple Portfolios MF-AGG 22'825'780 0.47 22'423'580 30.09.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie PAUL CHECCHIN outperform 5 M 1 12 month 02.02.2011Commonwealth Bank DAVID LLOYD buy 5 M 1 12 month 02.02.2011JPMorgan MICHAEL JOHN SCOTT overweight 5 M 1 12 month 26.01.2011Credit Suisse STEPHEN RICH outperform 5 M 1 Not Provided 16.12.2010Goldman Sachs & Partners Australia SIMON WHEATLEY hold 3 M 1 Not Provided 15.12.2010Deutsche Bank IAN RANDALL hold 3 M 1 12 month 02.12.2010Citi DAVID BURGESS buy 5 M 1 Not Provided 01.12.2010CLSA Asia Pacific Markets BRYAN HOWITT outperform 5 M 1 Not Provided 16.11.2010Morgan Stanley LOURENS PIRENC Overwt/In-Line 5 M 1 12 month 18.08.2010UBS GRANT MCCASKER neutral 3 D 1 12 month 07.06.2010
Downer EDI Limited provides engineering and infrastructure management services
to the public and private rail, road, power, telecommunications, mining andresources sectors in Australia, New Zealand, Asia and the Pacific. Downerprovides rolling stock services, drilling services for the exploration industry,mine planning and management services and highway maintenance.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (02.11.2010) 5.1452-Week Low (14.09.2011) 3.14Daily Volume
EBITDA 465.87 Long-Term Rating Date -EBIT 255.38 Long-Term Rating -Operating Margin 3.86% Long-Term Outlook -Pretax Margin -0.58% Short-Term Rating Date -Return on Assets -0.78% Short-Term Rating -Return on Common Equity -2.85%Return on Capital - EBITDA/Interest Exp. 5.94Asset Turnover 1.85% (EBITDA-Capex)/Interest Exp. 0.25
Net Debt/EBITDA 0.95Gross Margin 97.5% Total Debt/EBITDA 1.57EBITDA Margin 7.0%EBIT Margin 3.9% Total Debt/Equity 50.8%Net Income Margin -0.4% Total Debt/Capital 33.7%
Asset Turnover 1.85Current Ratio 1.16 Net Fixed Asset Turnover 6.90Quick Ratio 0.53 Accounts receivable turnover-days 29.21Debt to Assets 19.75% Inventory Days 425.45Tot Debt to Common Equity 50.81% Accounts Payable Turnover Day 869.77Accounts Receivable Turnover 12.49 Cash Conversion Cycle -415.11Inventory Turnover 0.86
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Downer EDI LtdPrice/Volume
Valuation Analysis
590'143.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeSCHRODER INVSTMNT MG n/a Co File 29'985'467 8.74 - 20.08.2010 n/aFRANKLIN RESOURCES I n/a EXCH 28'239'397 8.23 3'827'591 12.01.2011 Investment AdvisorBLACKROCK INVESTMENT n/a EXCH 23'421'665 6.82 - 18.05.2010 Investment AdvisorAXA n/a EXCH 18'126'657 5.28 (3'408'806) 28.08.2009 Investment AdvisorMACQUARIE GROUP LTD #N/A N/A EXCH 17'786'133 5.18 - 02.02.2011 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 17'130'049 4.99 (3'960'846) 31.01.2011 BankUBS AG n/a EXCH 16'964'806 4.94 - 25.08.2009 Investment AdvisorCREDIT SUISSE n/a EXCH 16'573'379 4.83 (374'828) 04.06.2010 Investment AdvisorCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 16'440'000 4.79 1'219'039 30.09.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 16'385'607 4.77 (287'252) 12.03.2010 BankCAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 12'466'000 3.63 300'000 30.09.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 4'297'150 1.25 82'295 31.12.2010 Mutual Fund ManagerMASSACHUSETTS FINANC Multiple Portfolios MF-AGG 3'649'603 1.06 - 30.11.2010 Investment AdvisorT ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 3'250'345 0.95 3'241'066 31.12.2010 Investment AdvisorPRUDENTIAL PLC Multiple Portfolios MF-AGG 2'996'507 0.87 108'716 30.09.2010 Investment AdvisorPRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 1'979'415 0.58 64'600 31.12.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 1'724'982 0.5 3'960 31.12.2010 Mutual Fund ManagerFRANKLIN TEMPLETON I Multiple Portfolios MF-AGG 1'271'609 0.37 823'515 31.12.2010 Investment AdvisorINVESCO LTD Multiple Portfolios MF-AGG 1'014'597 0.3 36'000 07.02.2011 Investment AdvisorPRINCIPAL LIFE INSUR PRINCIPAL LIFE INSUR Sch-D 963'641 0.28 769'955 30.06.2010 Insurance Company
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank CRAIG WONGPAN hold 3 M 4 12 month 07.02.2011Goldman Sachs & Partners Australia CHRIS SAVAGE hold 3 M 5 Not Provided 07.02.2011Nomura RICHARD J JOHNSON neutral 3 U 4 Not Provided 28.01.2011Paterson Securities GRAEME CARSON sell 1 D 3 12 month 28.01.2011RBS ANDREW HODGE hold 3 D 4 12 month 27.01.2011Credit Suisse CHRIS COUNIHAN neutral 3 U 4 Not Provided 27.01.2011JPMorgan ALISTAIR REID neutral 3 M 5 12 month 27.01.2011Citi GUY ROBINSON buy 5 M 4 Not Provided 27.01.2011Macquarie JOHN PURTELL neutral 3 M 4 12 month 27.01.2011Commonwealth Bank BEN BROWNETTE sell 1 M 3 12 month 27.01.2011Austock Securities HEATH ANDREWS sell 1 M 4 Not Provided 27.01.2011
EBITDA 752.75 Long-Term Rating Date 03.06.2003EBIT 538.49 Long-Term Rating BBB-Operating Margin 49.89% Long-Term Outlook STABLEPretax Margin 6.80% Short-Term Rating Date -Return on Assets 0.81% Short-Term Rating -Return on Common Equity 5.37%Return on Capital - EBITDA/Interest Exp. 1.56Asset Turnover 0.13% (EBITDA-Capex)/Interest Exp. 1.01
Net Debt/EBITDA 6.91Gross Margin - Total Debt/EBITDA 7.63EBITDA Margin 69.7%EBIT Margin 49.9% Total Debt/Equity 444.7%Net Income Margin 6.4% Total Debt/Capital 77.4%
Asset Turnover 0.13Current Ratio 0.54 Net Fixed Asset Turnover 0.21Quick Ratio 0.32 Accounts receivable turnover-days 15.85Debt to Assets 66.50% Inventory Days -Tot Debt to Common Equity 444.74% Accounts Payable Turnover Day -Accounts Receivable Turnover 23.03 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
DUET GroupPrice/Volume
Valuation Analysis
3'207'856.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
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Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeAMP LTD n/a Co File 102'896'515 11.6 - 19.08.2010 Insurance CompanyLAZARD ASSET MANAGEM n/a Co File 73'998'497 8.34 - 19.08.2010 Investment AdvisorSUNCORP METWAY INVES n/a Co File 50'978'508 5.75 - 19.08.2010 BankCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 42'788'292 4.82 - 30.09.2010 Investment AdvisorPICTET ASSET MANAGEM Multiple Portfolios MF-AGG 27'837'159 3.14 (660'798) 30.11.2010 Investment AdvisorLORD ABBETT & CO LLC Multiple Portfolios MF-AGG 4'644'079 0.52 309'618 30.12.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 4'149'082 0.47 9'636 31.12.2010 Mutual Fund ManagerROBERTS JOHN STUART n/a Co File 3'978'801 0.45 - 19.08.2010 n/aMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 3'477'120 0.39 (20'225) 31.12.2010 Mutual Fund ManagerLAZARD GLOBAL ACTIVE Multiple Portfolios MF-AGG 3'122'432 0.35 - 31.12.2010 Investment AdvisorLAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 3'107'976 0.35 - 31.12.2010 Investment AdvisorFORWARD MANAGEMENT L Multiple Portfolios MF-AGG 2'750'416 0.31 - 29.11.2010 Investment AdvisorPRINCIPAL LIFE INSUR PRINCIPAL LIFE INSUR Sch-D 2'523'762 0.28 2'242'067 30.06.2010 Insurance CompanyBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 2'258'983 0.25 1'380 04.02.2011 Investment AdvisorWIKRAMANAYAKE SHEMAR n/a EXCH 1'842'987 0.21 - 25.11.2010 n/aFIDELITY INTERNATION Multiple Portfolios MF-AGG 1'523'917 0.17 - 31.10.2009 Investment AdvisorBANQUE DE LUXEMBOURG Multiple Portfolios MF-AGG 1'500'000 0.17 - 29.10.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'470'313 0.17 - 31.12.2010 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 1'377'314 0.16 - 31.10.2010 Investment AdvisorMORGAN STANLEY & CO Multiple Portfolios MF-AGG 972'300 0.11 972'300 30.09.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse SANDRA MCCULLAGH neutral 3 M 2 Not Provided 04.02.2011JPMorgan JASON HARLEY STEED overweight 5 M 2 12 month 04.02.2011Deutsche Bank JOHN HIRJEE hold 3 M 2 12 month 01.02.2011Morgan Stanley MARK BLACKWELL Equalwt/In-Line 3 M 2 12 month 31.01.2011UBS DAVID LEITCH neutral 3 D 2 12 month 28.01.2011RBS WILLIAM ALLOTT buy 5 U 2 12 month 12.01.2011Commonwealth Bank PAUL JOHNSTON buy 5 M 2 12 month 04.01.2011Citi MARIE MIYASHIRO sell 1 D 2 Not Provided 01.11.2010Macquarie IAN MYLES restricted #N/A N/A M #N/A N/A Not Provided 20.08.2010
Fairfax Media Limited publishes and prints newspapers, magazines and
entertainment publications. The Company also provides advertising sales innewspapers, magazines and electronic formats. Fairfax also offers an Internetbusiness which includes news and classifieds.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (21.09.2010) 1.5752-Week Low (22.08.2011) 0.68Daily Volume
Shares Out 04.05.2011 2'352.0 Short Int 309.641'916.84 1 Yr Total Return -43.83%
Total Debt 1'532.03 YTD Return -40.02%Preferred Stock 0.0 Adjusted BETA 1.085Minority Interest 7.0 Analyst Recs 13Cash and Equivalents 207.14 Consensus Rating 3.462Enterprise Value 3'248.73
Average Volume 5 Day 18'564'880FXJ AT EQUITY YTD Change - Average Volume 30 Day 16'322'600FXJ AT EQUITY YTD % CHANGE - Average Volume 3 Month 14'024'340
EBITDA 1'258.42 Long-Term Rating Date 14.05.2009EBIT 1'144.07 Long-Term Rating BB+Operating Margin 46.44% Long-Term Outlook STABLEPretax Margin -12.30% Short-Term Rating Date 09.11.2004Return on Assets -5.69% Short-Term Rating NRReturn on Common Equity -8.50%Return on Capital - EBITDA/Interest Exp. 10.01Asset Turnover 0.35% (EBITDA-Capex)/Interest Exp. 9.55
Net Debt/EBITDA 1.05Gross Margin - Total Debt/EBITDA 1.22EBITDA Margin 51.1%EBIT Margin 46.4% Total Debt/Equity 34.6%Net Income Margin -15.9% Total Debt/Capital 25.7%
Asset Turnover 0.35Current Ratio 0.52 Net Fixed Asset Turnover 3.28Quick Ratio 0.45 Accounts receivable turnover-days 50.96Debt to Assets 22.86% Inventory Days -Tot Debt to Common Equity 34.57% Accounts Payable Turnover Day -Accounts Receivable Turnover 7.14 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Fairfax Media LtdPrice/Volume
Valuation Analysis
5'928'710.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCOMMONWEALTH BANK OF n/a EXCH 240'063'433 10.21 (24'755'061) 14.10.2010 BankMARINYA MEDIA PTY LT n/a EXCH 227'632'469 9.68 - 11.11.2010 CorporationMAPLE-BROWN ABBOTT L n/a EXCH 160'243'882 6.81 23'552'183 04.01.2011 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 157'060'181 6.68 (32'619'382) 14.12.2010 BankIOOF HOLDINGS LTD n/a EXCH 146'899'299 6.25 24'669'600 07.12.2010 Investment AdvisorMORGAN STANLEY & CO n/a EXCH 141'097'766 6 (61'006'372) 25.01.2010 Investment AdvisorCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 28'000'000 1.19 - 30.09.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 27'621'471 1.17 2'429'110 31.12.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 20'631'413 0.88 - 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 11'315'490 0.48 396'371 31.12.2010 Mutual Fund ManagerVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 10'295'048 0.44 25'443 31.12.2010 Mutual Fund ManagerAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 9'705'000 0.41 - 30.06.2010 Investment AdvisorCAMBOOYA PTY LTD n/a EXCH 7'718'863 0.33 - 11.11.2010 n/aAXA ROSENBERG INTL Multiple Portfolios MF-AGG 5'396'400 0.23 (409'500) 30.09.2010 Investment AdvisorWADDELL & REED FINAN Multiple Portfolios MF-AGG 4'317'040 0.18 23'850 30.09.2010 Investment AdvisorJP MORGAN CHASE & CO Multiple Portfolios MF-AGG 3'591'280 0.15 15'014 30.11.2010 Investment AdvisorLEGAL & GENERAL GROU Multiple Portfolios MF-AGG 3'482'953 0.15 754 30.04.2010 Investment AdvisorFORWARD MANAGEMENT L Multiple Portfolios MF-AGG 3'203'083 0.14 (371'319) 29.11.2010 Investment AdvisorTRANSAMERICA INVESTM Multiple Portfolios MF-AGG 2'684'858 0.11 - 30.09.2010 Investment AdvisorJPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 2'543'130 0.11 - 30.09.2010 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse JOLANTA MASOJADA outperform 5 M 2 Not Provided 07.02.2011Commonwealth Bank ALICE BENNETT hold 3 D 2 12 month 27.01.2011Deutsche Bank ANDREW ANAGNOSTELLIS hold 3 M 2 12 month 25.01.2011Goldman Sachs & Partners Australia CHRISTIAN GUERRA hold 3 M 2 Not Provided 25.01.2011RBS FRASER MCLEISH buy 5 M 2 12 month 20.01.2011Morgan Stanley ANDREW MCLEOD Overwt/Cautious 5 M 2 12 month 19.01.2011Macquarie ALEX POLLAK underperform 1 M 1 12 month 13.01.2011BBY Limited MARK MCDONNELL buy 5 M 2 12 month 26.11.2010CLSA Asia Pacific Markets DIGBY GILMOUR underperform 1 D 1 Not Provided 25.11.2010JPMorgan LAURENT HORRUT overweight 5 M 2 12 month 23.11.2010Citi JUSTIN DIDDAMS hold 3 D 2 Not Provided 16.11.2010Evans & Partners Pty Ltd TONY WILSON negative 2 M #N/A N/A Not Provided 29.08.2010UBS RICHARD EARY buy 5 M 2 12 month 22.02.2010
Shares Out 06.09.2011 3'113.6 Short Int 54.5218'463.94 1 Yr Total Return 23.91%
Total Debt 4'872.17 YTD Return -8.30%Preferred Stock 0.0 Adjusted BETA 1.440Minority Interest 0.0 Analyst Recs 20Cash and Equivalents 2'662.72 Consensus Rating 4.700Enterprise Value 21'129.44
Average Volume 5 Day 23'462'700FMG AT EQUITY YTD Change - Average Volume 30 Day 14'939'920FMG AT EQUITY YTD % CHANGE - Average Volume 3 Month 14'436'830
EBITDA 2'765.17 Long-Term Rating Date 18.05.2011EBIT 2'595.35 Long-Term Rating B+Operating Margin 47.69% Long-Term Outlook STABLEPretax Margin 24.53% Short-Term Rating Date -Return on Assets 14.74% Short-Term Rating -Return on Common Equity 52.29%Return on Capital 23.22% EBITDA/Interest Exp. 5.62Asset Turnover 0.78% (EBITDA-Capex)/Interest Exp. 5.62
Net Debt/EBITDA 0.80Gross Margin 49.3% Total Debt/EBITDA 1.76EBITDA Margin 50.8%EBIT Margin 47.7% Total Debt/Equity 200.1%Net Income Margin 18.8% Total Debt/Capital 66.7%
Asset Turnover 0.78Current Ratio 3.13 Net Fixed Asset Turnover 3.59Quick Ratio 2.56 Accounts receivable turnover-days 9.99Debt to Assets 56.48% Inventory Days 40.03Tot Debt to Common Equity 200.15% Accounts Payable Turnover Day 18.39Accounts Receivable Turnover 36.55 Cash Conversion Cycle 31.62Inventory Turnover 9.12
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Fortescue Metals Group LtdPrice/Volume
Valuation Analysis
10'566'393.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeFORREST ANDREW JOHN n/a EXCH 972'848'823 31.25 18'608 26.11.2010 n/aHUNAN VALIN IRON AND n/a EXCH 506'000'000 16.26 (29'000'000) 23.11.2010 n/aLEUCADIA NATIONAL CO n/a EXCH 247'986'000 7.97 221'586'000 03.03.2010 Investment AdvisorMAGNITOGORSK IRON & n/a Research 166'687'029 5.36 - 08.03.2010 CorporationVANGUARD GROUP INC Multiple Portfolios MF-AGG 25'077'755 0.81 (634'270) 31.12.2010 Investment AdvisorROWLEY WILLIAM GRAEM n/a EXCH 19'144'951 0.62 (122'571) 30.12.2010 n/aBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 12'578'414 0.4 - 03.02.2011 Investment AdvisorSCRIMSHAW RUSSELL JO n/a EXCH 8'090'055 0.26 62 20.01.2011 n/aVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 6'412'752 0.21 275'590 31.12.2010 Mutual Fund ManagerINVESTEC ASSET MANAG Multiple Portfolios MF-AGG 6'373'926 0.2 3'831'661 31.10.2010 Investment AdvisorAMBRECHT KENNETH CHA n/a Co File 6'313'130 0.2 - 10.08.2009 n/aCARMIGNAC GESTION Multiple Portfolios MF-AGG 5'000'000 0.16 - 31.12.2010 Investment AdvisorGLICKENHAUS & COMPAN GLICKENHAUS & COMPAN 13F 4'748'950 0.15 4'748'950 31.12.2010 Investment AdvisorCATLOW CHRISTOPHER J n/a Co File 4'690'000 0.15 - 30.06.2009 n/aJPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 3'790'000 0.12 - 30.09.2010 Investment AdvisorPUTNAM INVESTMENT MA Multiple Portfolios MF-AGG 2'732'125 0.09 2'732'125 30.09.2010 Investment AdvisorELLIOTT HERBERT JAME n/a Co File 2'167'938 0.07 - 10.08.2009 n/aMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 1'831'102 0.06 (196'300) 31.12.2010 Mutual Fund ManagerSJUNDE AP FONDEN Multiple Portfolios MF-AGG 1'317'210 0.04 39'548 30.09.2010 Investment AdvisorLEGAL & GENERAL GROU Multiple Portfolios MF-AGG 1'178'266 0.04 (245) 30.04.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs & Partners Australia NEIL GOODWILL buy 5 M 10 Not Provided 02.02.2011Credit Suisse NATHAN LITTLEWOOD neutral 3 M 8 Not Provided 19.01.2011E.L. & C. Baillieu ADRIAN PRENDERGAST hold 3 U 6 12 month 19.01.2011BMO Capital Markets DAVID RADCLYFFE outperform 5 M 8 Not Provided 18.01.2011RBS LYNDON FAGAN buy 5 M 8 12 month 18.01.2011Deutsche Bank PAUL-D YOUNG hold 3 M 7 12 month 18.01.2011Morgan Stanley CRAIG CAMPBELL Equalwt/Attractive 3 M 7 12 month 18.01.2011RBC Capital Markets CHRIS DREW outperform 5 M 8 12 month 18.01.2011UBS GLYN LAWCOCK buy 5 M 9 12 month 18.01.2011JPMorgan MARK BUSUTTIL overweight 5 M 8 12 month 18.01.2011Macquarie MARTIN STULPNER outperform 5 M 8 12 month 18.01.2011Paterson Securities ALEX PASSMORE hold 3 M 7 12 month 18.01.2011CLSA Asia Pacific Markets HAYDEN BAIRSTOW sell 1 M 5 Not Provided 18.01.2011MF Global Equities Research ANDREW GARDNER buy 5 M #N/A N/A Not Provided 01.12.2010Southern Cross FLEUR GROSE buy 5 M 8 12 month 22.11.2010Citi CLARKE WILKINS hold 3 D 7 Not Provided 19.11.2010Foster Stockbroking TEAM COVERAGE buy 5 N 7 Not Provided 01.09.2010
Shares Out 13.05.2011 1'940.9 Short Int 11.589'529.79 1 Yr Total Return 5.10%
Total Debt 1'675.80 YTD Return 12.70%Preferred Stock 0.0 Adjusted BETA 0.644Minority Interest 12.2 Analyst Recs 9Cash and Equivalents 58.30 Consensus Rating 2.778Enterprise Value 11'159.49
Average Volume 5 Day 8'420'950FGL AT EQUITY YTD Change - Average Volume 30 Day 17'417'290FGL AT EQUITY YTD % CHANGE - Average Volume 3 Month 21'931'500
EBITDA 792.70 Long-Term Rating Date 11.04.2006EBIT 739.80 Long-Term Rating BBBOperating Margin 32.58% Long-Term Outlook STABLEPretax Margin 34.12% Short-Term Rating Date 11.04.2006Return on Assets -1.81% Short-Term Rating A-2Return on Common Equity -5.77%Return on Capital - EBITDA/Interest Exp. 6.27Asset Turnover 0.46% (EBITDA-Capex)/Interest Exp. 5.68
Net Debt/EBITDA 2.04Gross Margin 47.3% Total Debt/EBITDA 2.11EBITDA Margin 34.9%EBIT Margin 32.6% Total Debt/Equity 432.6%Net Income Margin -3.9% Total Debt/Capital 80.7%
Asset Turnover 0.46Current Ratio 1.13 Net Fixed Asset Turnover 1.77Quick Ratio 0.89 Accounts receivable turnover-days 94.85Debt to Assets 55.91% Inventory Days 178.43Tot Debt to Common Equity 432.58% Accounts Payable Turnover Day 398.96Accounts Receivable Turnover 3.85 Cash Conversion Cycle -125.68Inventory Turnover 2.05
Fiscal Year Ended
Foster's Group LtdPrice/Volume
Valuation Analysis
6'219'497.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank PAUL VAN MEURS buy 5 M 6 12 month 04.02.2011Nomura DAVID COOKE neutral 3 M 6 Not Provided 02.02.2011Credit Suisse LARRY GANDLER underperform 1 M 6 Not Provided 25.01.2011JPMorgan STUART JACKSON neutral 3 M 5 12 month 25.01.2011RBS HARRY THEODORE hold 3 M 6 12 month 21.01.2011Macquarie GREG DRING underperform 1 M 5 12 month 21.01.2011Goldman Sachs & Partners Australia IAN ABBOTT hold 3 M 6 Not Provided 19.01.2011UBS LINDY NEWTON neutral 3 M 6 12 month 18.01.2011Citi ANDREW BOWLEY hold 3 M 6 Not Provided 04.01.2011Morgan Stanley MARTIN YULE Overwt/Attractive 5 M 7 12 month 21.12.2010E.L. & C. Baillieu SAM HADDAD hold 3 M 5 12 month 26.10.2010Evans & Partners Pty Ltd PAUL RYAN Positive 4 M #N/A N/A Not Provided 01.09.2010CLSA Asia Pacific Markets JAMES PATERSON buy 5 N 7 Not Provided 27.05.2010Southern Cross ALEXANDRA MCPHEE accumulate 4 M 6 12 month 09.09.2009
Goodman Fielder Limited offers a wide range of food products. The Company
offers food products that include packaged baked goods, spreads, dairy products,small goods, sauces, dressings, and condiments and bulk and packaged edible fatsand oils and flour products.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (02.11.2010) 1.6752-Week Low (14.09.2011) 0.60Daily Volume
EBITDA 43.90 Long-Term Rating Date -EBIT -25.40 Long-Term Rating -Operating Margin -0.99% Long-Term Outlook -Pretax Margin -4.49% Short-Term Rating Date -Return on Assets -5.68% Short-Term Rating -Return on Common Equity -11.30%Return on Capital - EBITDA/Interest Exp. 0.43Asset Turnover 0.87% (EBITDA-Capex)/Interest Exp. -0.58
Net Debt/EBITDA 20.13Gross Margin 36.6% Total Debt/EBITDA 21.95EBITDA Margin 1.7%EBIT Margin -1.0% Total Debt/Equity 74.5%Net Income Margin -6.5% Total Debt/Capital 42.6%
Asset Turnover 0.87Current Ratio 1.18 Net Fixed Asset Turnover 4.22Quick Ratio 0.65 Accounts receivable turnover-days 30.71Debt to Assets 34.62% Inventory Days 40.79Tot Debt to Common Equity 74.54% Accounts Payable Turnover Day 59.47Accounts Receivable Turnover 11.89 Cash Conversion Cycle 12.03Inventory Turnover 8.95
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Goodman Fielder LtdPrice/Volume
Valuation Analysis
3'269'927.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan STUART JACKSON neutral 3 M 1 12 month 04.02.2011Nomura DAVID COOKE neutral 3 M 1 Not Provided 02.02.2011Credit Suisse LARRY GANDLER outperform 5 M 2 Not Provided 01.02.2011Goldman Sachs & Partners Australia PHILLIP KIMBER hold 3 M 2 Not Provided 01.02.2011Macquarie GREG DRING neutral 3 D 1 12 month 19.01.2011RBS ALEXANDER BEER hold 3 M 1 12 month 11.01.2011Commonwealth Bank JORDAN ROGERS hold 3 N 1 12 month 01.12.2010Citi ANDREW BOWLEY buy 5 M 2 Not Provided 30.11.2010Deutsche Bank MATTHEW ISER hold 3 M 1 12 month 30.08.2010Evans & Partners Pty Ltd TONY WILSON negative 2 M #N/A N/A Not Provided 23.08.2010Morgan Stanley MARTIN YULE Underwt/Attractive 1 M 1 12 month 19.08.2010UBS LINDY NEWTON neutral 3 M 1 12 month 19.08.2010
Goodman Group is an integrated industrial property group. The Group has
operations in Australia, New Zealand, UK, Asia and Europe. Goodman's activitiesinclude property investment, funds management, property development and propertyservices. The Group's property portfolio includes business parks, industrialestates, office parks and warehouse/distribution centers.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (27.04.2011) 0.7652-Week Low (09.08.2011) 0.56Daily Volume
Shares Out 30.06.2011 7'394.6 Short Int 23.254'658.60 1 Yr Total Return -1.06%
Total Debt 1'913.80 YTD Return -0.35%Preferred Stock 0.0 Adjusted BETA 0.949Minority Interest 573.1 Analyst Recs 12Cash and Equivalents 227.80 Consensus Rating 4.333Enterprise Value 6'917.70
Average Volume 5 Day 36'404'150GMG AT EQUITY YTD Change - Average Volume 30 Day 36'811'940GMG AT EQUITY YTD % CHANGE - Average Volume 3 Month 30'893'160
EBITDA 225.20 Long-Term Rating Date 29.09.2009EBIT 191.20 Long-Term Rating BBBOperating Margin 27.46% Long-Term Outlook NEGPretax Margin 66.13% Short-Term Rating Date -Return on Assets 5.16% Short-Term Rating -Return on Common Equity 9.35%Return on Capital 6.49% EBITDA/Interest Exp. 2.20Asset Turnover 0.09% (EBITDA-Capex)/Interest Exp. 0.53
Net Debt/EBITDA 7.49Gross Margin - Total Debt/EBITDA 8.50EBITDA Margin 32.3%EBIT Margin - Total Debt/Equity 43.1%Net Income Margin 56.3% Total Debt/Capital 27.6%
Asset Turnover 0.09Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 25.30% Inventory Days -Tot Debt to Common Equity 43.10% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Goodman GroupPrice/Volume
Valuation Analysis
19'087'300.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse STEPHEN RICH neutral 3 M 1 Not Provided 25.01.2011JPMorgan RICHARD JONES neutral 3 M 1 12 month 21.01.2011Goldman Sachs & Partners Australia PETER ZUK not rated #N/A N/A M #N/A N/A Not Provided 14.01.2011Macquarie PAUL CHECCHIN restricted #N/A N/A M #N/A N/A Not Provided 11.01.2011Commonwealth Bank DAVID LLOYD hold 3 M 1 12 month 10.01.2011Deutsche Bank IAN RANDALL buy 5 M 1 12 month 29.12.2010RBS ANDREW HODGE buy 5 N 1 12 month 20.12.2010Citi DAVID BURGESS buy 5 M 1 Not Provided 16.11.2010CLSA Asia Pacific Markets JOHN P KIM outperform 5 M 1 Not Provided 29.10.2010Morgan Stanley LOURENS PIRENC Overwt/In-Line 5 M 1 12 month 25.08.2010UBS GRANT MCCASKER buy 5 M 1 12 month 31.05.2010
GPT Group is a property trust that manages and invests in retail, office,
industrial and hotel/tourism properties throughout Australia. The commercialproperty portfolio includes Riverside Centre and MLC Centre while the retailproperties include Charlestown Square and Penrith Plaza. The Group'shotel/tourism property includes Ayers Rock Resort.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (24.06.2011) 3.2252-Week Low (09.08.2011) 2.58Daily Volume
EBITDA 340.00 Long-Term Rating Date 10.05.2010EBIT 183.00 Long-Term Rating A-Operating Margin 32.37% Long-Term Outlook STABLEPretax Margin 76.60% Short-Term Rating Date 26.08.2009Return on Assets 7.48% Short-Term Rating A-2Return on Common Equity 10.38%Return on Capital 7.75% EBITDA/Interest Exp. 1.88Asset Turnover 0.06% (EBITDA-Capex)/Interest Exp. 0.01
Net Debt/EBITDA 7.09Gross Margin - Total Debt/EBITDA 7.21EBITDA Margin 60.1%EBIT Margin - Total Debt/Equity 35.3%Net Income Margin 125.1% Total Debt/Capital 26.1%
Asset Turnover 0.06Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 25.15% Inventory Days -Tot Debt to Common Equity 35.26% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
GPT GroupPrice/Volume
Valuation Analysis
3'050'129.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeDEUTSCHE BANK AG n/a Co File 275'624'194 14.85 - 26.02.2010 Investment AdvisorGOVT OF SINGAPORE IN n/a Co File 205'875'283 11.1 - 26.02.2010 GovernmentSTOCKLAND n/a Co File 175'160'804 9.44 - 26.02.2010 CorporationCOMMONWEALTH BANK OF n/a EXCH 125'060'390 6.74 31'194'943 27.10.2010 BankING GROEP NV n/a EXCH 117'899'517 6.35 (21'579'512) 28.01.2011 Investment AdvisorCOHEN & STEERS INC n/a EXCH 95'257'067 5.13 - 20.12.2010 CorporationVANGUARD GROUP INC n/a Co File 93'609'719 5.04 - 26.02.2010 Investment AdvisorBLACKROCK INVESTMENT n/a EXCH 92'818'291 5 - 08.09.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 68'278'668 3.68 221'279 31.12.2010 Mutual Fund ManagerLASALLE INVESTMENT M Multiple Portfolios MF-AGG 37'598'213 2.03 37'598'213 23.08.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 26'708'871 1.44 52'716 31.12.2010 Mutual Fund ManagerBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 19'651'795 1.06 - 04.02.2011 Investment AdvisorMORGAN STANLEY & CO Multiple Portfolios MF-AGG 19'147'880 1.03 9'485 30.09.2010 Investment AdvisorING CLARION REAL EST Multiple Portfolios MF-AGG 19'024'040 1.03 527'240 31.12.2010 Investment AdvisorCOHEN & STEERS CAPIT Multiple Portfolios MF-AGG 18'478'401 1 (18'607'831) 03.02.2011 Investment AdvisorCOLONIAL FIRST STATE Multiple Portfolios MF-AGG 17'068'125 0.92 - 09.08.2010 Investment AdvisorEUROPEAN INVESTORS I EUROPEAN INVESTORS I 13F 16'499'141 0.89 485'000 30.09.2010 Investment AdvisorING INVESTMENT MANAG Multiple Portfolios MF-AGG 14'423'365 0.78 (174'834) 30.09.2010 Investment AdvisorMITSUBISHI UFJ ASSET Multiple Portfolios MF-AGG 13'265'159 0.71 9'823'199 05.07.2010 Mutual Fund ManagerSTATE STREET CORP Multiple Portfolios MF-AGG 10'426'536 0.56 146'141 04.02.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse ROWENA CAUSLEY neutral 3 M 3 Not Provided 07.02.2011JPMorgan ROB STANTON overweight 5 U 3 12 month 04.02.2011Macquarie PAUL JUNIPER outperform 5 M 3 12 month 02.02.2011Deutsche Bank MATTHEW BERTRAM hold 3 M 3 12 month 01.02.2011Paterson Securities JONATHAN KRISKA hold 3 M 3 12 month 01.02.2011Commonwealth Bank DAVID LLOYD sell 1 M 3 12 month 10.01.2011Goldman Sachs & Partners Australia SIMON WHEATLEY buy 5 M 3 Not Provided 29.12.2010CLSA Asia Pacific Markets BRYAN HOWITT buy 5 M 3 Not Provided 14.12.2010Citi DAVID BURGESS hold 3 M 3 Not Provided 01.12.2010UBS GRANT MCCASKER buy 5 U 3 12 month 01.11.2010Morgan Stanley LOURENS PIRENC Equalwt/In-Line 3 M 3 12 month 24.08.2010
Harvey Norman Holdings Limited is a holding company for companies and trusts in
a third party franchise agreement. The franchises operate stores under the name"Harvey Norman Discounts," selling homewares and electrical goods. The Companyalso provides advisory and advertising to the franchises. In addition, theCompany provides consumer finance and has property investments.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (20.09.2010) 3.9352-Week Low (09.08.2011) 1.77Daily Volume
EBITDA 359.23 Long-Term Rating Date -EBIT 269.87 Long-Term Rating -Operating Margin 10.60% Long-Term Outlook -Pretax Margin 14.69% Short-Term Rating Date -Return on Assets 6.54% Short-Term Rating -Return on Common Equity 11.74%Return on Capital 10.39% EBITDA/Interest Exp. 8.86Asset Turnover 0.66% (EBITDA-Capex)/Interest Exp. 0.39
Net Debt/EBITDA 1.25Gross Margin 55.6% Total Debt/EBITDA 1.81EBITDA Margin 14.1%EBIT Margin 10.6% Total Debt/Equity 29.7%Net Income Margin 9.9% Total Debt/Capital 22.6%
Asset Turnover 0.66Current Ratio 1.64 Net Fixed Asset Turnover 1.26Quick Ratio 1.24 Accounts receivable turnover-days 149.41Debt to Assets 16.28% Inventory Days 96.69Tot Debt to Common Equity 29.71% Accounts Payable Turnover Day 205.72Accounts Receivable Turnover 2.44 Cash Conversion Cycle 40.37Inventory Turnover 3.78
Fiscal Year Ended
Harvey Norman Holdings LtdPrice/Volume
Valuation Analysis
2'749'178.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeHARVEY GERALD n/a Co File 311'959'532 29.37 - 28.09.2010 n/aNORMAN IAN JOHN n/a Co File 175'249'660 16.5 - 28.09.2010 n/aAUSBIL DEXIA LIMITED n/a EXCH 50'468'781 4.75 (14'581'807) 25.11.2010 Investment AdvisorHARVEY MARGARET LYNE n/a Co File 49'990'575 4.71 - 24.09.2010 n/aFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 23'726'391 2.23 827'154 31.12.2010 Investment AdvisorENBEEAR PTY LTD n/a Co File 17'118'200 1.61 - 24.09.2010 OtherPAGE KAY LESLEY n/a Co File 16'995'133 1.6 - 28.09.2010 n/aAMP LIFE LTD n/a Co File 5'647'148 0.53 - 24.09.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 5'139'728 0.48 - 31.12.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 4'758'958 0.45 78'328 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 4'599'338 0.43 114'055 31.12.2010 Mutual Fund ManagerAUSTRALIAN REWARD IN n/a Co File 4'516'101 0.43 - 24.09.2010 n/aARGO INVESTMENTS LTD n/a Co File 4'030'000 0.38 - 24.09.2010 Investment AdvisorBOND STREET CUSTODIA n/a Co File 3'058'700 0.29 - 24.09.2010 OtherVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'996'200 0.28 202'302 31.12.2010 Mutual Fund ManagerHARVEY MICHAEL JOHN n/a Co File 2'845'553 0.27 - 28.09.2010 n/aFIDELITY INTERNATION Multiple Portfolios MF-AGG 2'419'483 0.23 (2'881'053) 30.06.2010 Investment AdvisorFIDELITY INVESTMENTS Multiple Portfolios MF-AGG 1'989'290 0.19 - 31.12.2009 Mutual Fund ManagerOMNILAB MEDIA INV PT n/a Co File 1'805'078 0.17 - 24.09.2010 n/aQUEENSLAND INVESTMEN n/a Co File 1'674'798 0.16 - 24.09.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse GRANT SALIGARI outperform 5 M 4 Not Provided 04.02.2011Deutsche Bank ALEXI BAKER-MCLENNAN hold 3 M 4 12 month 03.02.2011Nomura DAVID COOKE neutral 3 M 3 Not Provided 02.02.2011Goldman Sachs & Partners Australia PHILLIP KIMBER hold 3 M 4 Not Provided 17.01.2011RBS DANIEL BROEREN buy 5 U 4 12 month 12.01.2011Citi CRAIG WOOLFORD buy 5 M 4 Not Provided 21.12.2010Commonwealth Bank ANDREW MCLENNAN buy 5 M 4 12 month 09.12.2010Macquarie ROB BLYTHE underperform 1 M 3 12 month 24.11.2010Morgan Stanley THOMAS KIERATH Overwt/In-Line 5 M 4 12 month 23.11.2010UBS BEN GILBERT buy 5 M 4 12 month 28.10.2010JPMorgan SHAUN COUSINS neutral 3 M 4 6 month 28.10.2010Paterson Securities RUSSELL WRIGHT hold 3 M 3 12 month 28.10.2010Evans & Partners Pty Ltd TONY WILSON neutral 3 M #N/A N/A Not Provided 23.08.2010CLSA Asia Pacific Markets JAMES PATERSON outperform 5 N 4 Not Provided 28.05.2010Austock Securities THOMAS HODSON sell 1 M 4 Not Provided 01.12.2009
Iluka Resources Limited is involved in the mining, concentration and separation
of mineral sands and titanium minerals. The Company also produces ilmenite andother titani-ferrous concentrates, zircon, and synthetic rutile along with theexploration of coal. Iluka's products are exported throughout the world.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (22.07.2011) 19.4652-Week Low (24.09.2010) 5.84Daily Volume
EBITDA 294.50 Long-Term Rating Date -EBIT 75.50 Long-Term Rating -Operating Margin 8.52% Long-Term Outlook -Pretax Margin 4.50% Short-Term Rating Date -Return on Assets 1.79% Short-Term Rating -Return on Common Equity 3.25%Return on Capital 4.29% EBITDA/Interest Exp. 9.20Asset Turnover 0.44% (EBITDA-Capex)/Interest Exp. 5.54
Net Debt/EBITDA 1.06Gross Margin 13.6% Total Debt/EBITDA 1.16EBITDA Margin 33.2%EBIT Margin 8.5% Total Debt/Equity 30.5%Net Income Margin 4.1% Total Debt/Capital 23.4%
Asset Turnover 0.44Current Ratio 2.10 Net Fixed Asset Turnover 0.59Quick Ratio 0.86 Accounts receivable turnover-days 44.61Debt to Assets 17.67% Inventory Days 96.89Tot Debt to Common Equity 30.48% Accounts Payable Turnover Day 33.23Accounts Receivable Turnover 8.18 Cash Conversion Cycle 108.26Inventory Turnover 3.77
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Iluka Resources LtdPrice/Volume
Valuation Analysis
2'435'032.00Current Price (9/dd/yy) Market Data
'-.0123456
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M -' d -' 8 -' d -' a -' a -' 8 -' m -' j -' f -' 9 -' a -- M --!' 7
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs & Partners Australia IAN PRESTON buy 5 M 12 Not Provided 02.02.2011Wilson HTM Investment Group ANDREW PEDLER buy 5 M 11 Not Provided 27.01.2011RBC Capital Markets GEOFF BREEN outperform 5 M 10 12 month 20.01.2011Credit Suisse MATTHEW HOPE outperform 5 M 14 Not Provided 20.01.2011RBS SAM BERRIDGE hold 3 D 10 12 month 19.01.2011Deutsche Bank BRENDAN FITZPATRICK hold 3 M 9 12 month 19.01.2011Morgan Stanley CRAIG CAMPBELL Underwt/Attractive 1 M 8 12 month 19.01.2011UBS GLYN LAWCOCK buy 5 U 11 12 month 19.01.2011JPMorgan FRASER JAMIESON overweight 5 M 10 12 month 19.01.2011E.L. & C. Baillieu RAY CHANTRY buy 5 M 10 12 month 19.01.2011Macquarie MARTIN STULPNER underperform 1 M 7 12 month 18.01.2011Evans & Partners Pty Ltd CATHY MOISES negative 2 D #N/A N/A Not Provided 06.01.2011Citi CLARKE WILKINS buy 5 M 8 Not Provided 08.11.2010Investec TIM GERRARD buy 5 M 7 12 month 20.10.2010Southern Cross PETER CHAPMAN buy 5 M 5 12 month 04.08.2010
Shares Out 31.03.2011 1'628.7 Short Int 1.855'863.43 1 Yr Total Return 6.68%
Total Debt 1'145.80 YTD Return -8.28%Preferred Stock 0.0 Adjusted BETA 1.241Minority Interest 2.1 Analyst Recs 16Cash and Equivalents 78.90 Consensus Rating 4.313Enterprise Value 7'220.43
Average Volume 5 Day 9'617'008IPL AT EQUITY YTD Change - Average Volume 30 Day 12'744'120IPL AT EQUITY YTD % CHANGE - Average Volume 3 Month 11'951'570
EBITDA 705.10 Long-Term Rating Date 12.10.2009EBIT 566.10 Long-Term Rating BBBOperating Margin 19.31% Long-Term Outlook STABLEPretax Margin 18.42% Short-Term Rating Date 11.02.2010Return on Assets 6.36% Short-Term Rating NRReturn on Common Equity 11.81%Return on Capital 9.21% EBITDA/Interest Exp. 15.84Asset Turnover 0.45% (EBITDA-Capex)/Interest Exp. 8.74
Net Debt/EBITDA 1.51Gross Margin - Total Debt/EBITDA 1.63EBITDA Margin 24.1%EBIT Margin 19.3% Total Debt/Equity 31.7%Net Income Margin 14.0% Total Debt/Capital 24.1%
Asset Turnover 0.45Current Ratio 1.08 Net Fixed Asset Turnover 1.67Quick Ratio 0.57 Accounts receivable turnover-days 44.44Debt to Assets 18.16% Inventory Days -Tot Debt to Common Equity 31.75% Accounts Payable Turnover Day -Accounts Receivable Turnover 8.21 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Incitec Pivot LtdPrice/Volume
Valuation Analysis
4'200'167.00Current Price (9/dd/yy) Market Data
'--..001122
M -' d -' 8 -' d -' a -' a -' 8 -' m -' j -' f -' 9 -' a -- M --!' 7
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank MARK WILSON sell 1 M 3 12 month 08.02.2011Macquarie JOHN PURTELL outperform 5 M 5 12 month 08.02.2011BMO Capital Markets JOEL JACKSON market perform 3 M 4 12 month 07.02.2011Credit Suisse ROHAN GALLAGHER outperform 5 M 5 Not Provided 01.02.2011Citi HUGH DIVE buy 5 M 5 Not Provided 31.01.2011Goldman Sachs & Partners Australia MATTHEW MCNEE buy 5 M 5 Not Provided 28.01.2011Chardan Capital Markets TIM TIBERIO buy 5 M 6 12 month 25.01.2011UBS SIMON MITCHELL buy 5 U 5 12 month 07.12.2010Austock Securities PAUL JENSZ buy 5 M 5 Not Provided 24.11.2010BBY Limited ANDREW SULLIVAN hold 3 M 4 12 month 17.11.2010E.L. & C. Baillieu GAVIN DUFFY accumulate 4 N 4 12 month 17.11.2010JPMorgan KEITH CHAU neutral 3 M 4 12 month 16.11.2010CLSA Asia Pacific Markets SCOTT HUDSON outperform 5 M 4 Not Provided 16.11.2010RBS BELINDA MOORE buy 5 M 5 12 month 15.11.2010Commonwealth Bank MICHAEL WARD hold 3 U 4 12 month 15.11.2010
ING Office Fund is involved in property investment, leasing, management and
development in Australia. The Fund's portfolio includes commercial propertiesand office buildings throughout the capital cities of Australia and certaincities in the United States.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (22.06.2011) 0.6752-Week Low (09.08.2011) 0.53Daily Volume
Shares Out 30.06.2011 2'729.1 Short Int 8.721'664.73 1 Yr Total Return 6.75%
Total Debt 365.20 YTD Return 13.48%Preferred Stock 0.0 Adjusted BETA 0.834Minority Interest 23.6 Analyst Recs 11Cash and Equivalents 22.80 Consensus Rating 3.545Enterprise Value 2'030.73
Average Volume 5 Day 19'836'830IOF AT EQUITY YTD Change - Average Volume 30 Day 17'262'210IOF AT EQUITY YTD % CHANGE - Average Volume 3 Month 14'360'230
EBITDA 131.00 Long-Term Rating Date -EBIT 115.70 Long-Term Rating -Operating Margin 57.97% Long-Term Outlook -Pretax Margin 98.70% Short-Term Rating Date -Return on Assets 5.69% Short-Term Rating -Return on Common Equity 7.16%Return on Capital 6.34% EBITDA/Interest Exp. 6.55Asset Turnover 0.08% (EBITDA-Capex)/Interest Exp. 2.67
Net Debt/EBITDA 2.61Gross Margin - Total Debt/EBITDA 2.79EBITDA Margin 65.6%EBIT Margin - Total Debt/Equity 18.3%Net Income Margin 72.1% Total Debt/Capital 15.3%
Asset Turnover 0.08Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 14.58% Inventory Days -Tot Debt to Common Equity 18.32% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Investa Office FundPrice/Volume
Valuation Analysis
5'235'217.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
'
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan MICHAEL JOHN SCOTT overweight 5 M 1 9 month 07.02.2011Macquarie PAUL CHECCHIN outperform 5 M 1 12 month 02.02.2011Credit Suisse ROWENA CAUSLEY neutral 3 M 1 Not Provided 24.01.2011Goldman Sachs & Partners Australia PETER ZUK hold 3 M 1 Not Provided 14.01.2011Commonwealth Bank DAVID LLOYD hold 3 M 1 12 month 10.01.2011UBS GRANT MCCASKER buy 5 U 1 12 month 20.12.2010Citi DAVID BURGESS buy 5 M 1 Not Provided 01.12.2010Deutsche Bank JASON WEATE hold 3 M 1 12 month 07.10.2010Morgan Stanley TODD MCFARLANE Overwt/In-Line 5 M 1 12 month 18.08.2010
Insurance Australia Group Limited (IAG) is an Australian-based international
general insurance group, with operations in Australia, New Zealand, the UnitedKingdom and Asia. The Group provides a range of personal and commercialinsurance products, primarily motor vehicle and home insurance.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (23.12.2010) 4.0352-Week Low (09.08.2011) 2.74Daily Volume
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK INVESTMENT n/a EXCH 103'383'377 4.97 (1'847'487) 31.01.2011 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 101'398'901 4.88 (5'040'109) 19.08.2010 BankBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 20'257'726 0.97 - 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 16'847'251 0.81 137'727 31.12.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 10'623'858 0.51 423'041 31.12.2010 Mutual Fund ManagerDAIWA SB INVESTMENTS Multiple Portfolios MF-AGG 10'551'100 0.51 (5'845'900) 08.07.2010 Investment AdvisorSCHRODER INVESTMENT Multiple Portfolios MF-AGG 4'154'644 0.2 (86'388) 30.06.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 3'922'857 0.19 (2'168'711) 31.12.2010 Mutual Fund ManagerSJUNDE AP FONDEN Multiple Portfolios MF-AGG 3'324'887 0.16 446'054 30.09.2010 Investment AdvisorING INVESTMENT MANAG Multiple Portfolios MF-AGG 3'038'540 0.15 132'857 30.09.2010 Investment AdvisorING INTERNATIONAL AD Multiple Portfolios MF-AGG 2'739'100 0.13 7 30.11.2010 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 2'500'000 0.12 500'000 30.06.2010 Investment AdvisorING INVESTMENT MGMT Multiple Portfolios MF-AGG 1'937'462 0.09 (150'242) 30.11.2010 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 1'719'860 0.08 (2'199'881) 31.12.2010 Investment AdvisorLEGAL & GENERAL GROU Multiple Portfolios MF-AGG 1'601'011 0.08 (111) 30.04.2010 Investment AdvisorUTLEY NEIL ALAN n/a Co File 1'408'549 0.07 - 30.06.2010 n/aCREDIT SUISSE ASSET Multiple Portfolios MF-AGG 1'272'158 0.06 394 27.01.2011 Mutual Fund ManagerBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 1'092'379 0.05 8'729 04.02.2011 Investment AdvisorSCHRODER INVESTMENT Multiple Portfolios MF-AGG 860'394 0.04 (56'360) 25.03.2010 Investment AdvisorSEB FONDFORVALTNING Multiple Portfolios MF-AGG 750'000 0.04 750'000 31.12.2010 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie TONY JACKSON outperform 5 M 4 12 month 08.02.2011Credit Suisse JOHN HEAGERTY outperform 5 M 4 Not Provided 04.02.2011Goldman Sachs & Partners Australia RYAN FISHER hold 3 M 4 Not Provided 04.02.2011RBS RICHARD COLES buy 5 M 4 12 month 02.02.2011BBY Limited BRETT LE MESURIER underperform 1 N 3 12 month 25.01.2011JPMorgan SIDDHARTH PARAMESWARAN overweight 5 M 4 12 month 14.01.2011Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT hold 3 M 4 Not Provided 13.01.2011CLSA Asia Pacific Markets DANIEL TOOHEY outperform 5 M 4 Not Provided 13.01.2011Deutsche Bank KIEREN CHIDGEY buy 5 M 4 12 month 10.01.2011Citi NIGEL PITTAWAY buy 5 M 4 Not Provided 21.12.2010UBS JAMES COGHILL buy 5 M 4 12 month 09.09.2010
EBITDA 253.40 Long-Term Rating Date 02.06.1999EBIT 190.50 Long-Term Rating NROperating Margin 16.32% Long-Term Outlook -Pretax Margin 8.28% Short-Term Rating Date 02.06.1999Return on Assets -16.77% Short-Term Rating NRReturn on Common Equity -Return on Capital - EBITDA/Interest Exp. 28.16Asset Turnover 0.56% (EBITDA-Capex)/Interest Exp. 22.57
Net Debt/EBITDA 0.16Gross Margin 33.6% Total Debt/EBITDA 0.23EBITDA Margin 21.7%EBIT Margin 16.3% Total Debt/Equity -Net Income Margin -29.7% Total Debt/Capital -
Asset Turnover 0.56Current Ratio 1.42 Net Fixed Asset Turnover 1.65Quick Ratio 0.49 Accounts receivable turnover-days 45.84Debt to Assets 3.01% Inventory Days 73.13Tot Debt to Common Equity - Accounts Payable Turnover Day 29.90Accounts Receivable Turnover 7.96 Cash Conversion Cycle 89.07Inventory Turnover 4.99
Fiscal Year Ended
James Hardie Industries SEPrice/Volume
Valuation Analysis
1'760'713.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'-.0123456
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCOMMONWEALTH BANK OF n/a EXCH 45'209'577 10.37 4'630'518 08.11.2010 BankSCHRODER INVESTMENT n/a EXCH 43'527'584 9.99 4'355'978 25.11.2010 Investment AdvisorFIDELITY MANAGEMENT n/a EXCH 33'874'177 7.77 4'527'157 27.01.2011 Investment AdvisorNATIONAL AUSTRALIA B n/a Co File 28'198'184 6.47 - 15.06.2010 BankBAILLIE GIFFORD AND n/a EXCH 26'907'513 6.17 4'581'654 24.09.2010 Investment AdvisorBLACKROCK INVESTMENT n/a EXCH 25'598'562 5.87 - 10.03.2010 Investment AdvisorUBS AG n/a EXCH 25'156'490 5.77 (5'595'202) 01.02.2011 Investment AdvisorAUSBIL DEXIA LIMITED n/a EXCH 24'980'920 5.73 - 12.01.2011 Investment AdvisorVANGUARD GROUP INC n/a EXCH 21'542'974 4.94 (182'454) 05.02.2010 Investment AdvisorLAZARD ASSET MANAGEM n/a EXCH 21'162'335 4.86 - 03.05.2010 Investment AdvisorINVESCO AUSTRALIA LT n/a EXCH 19'921'459 4.57 (2'362'023) 16.12.2010 Investment AdvisorCAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 8'245'000 1.89 - 30.09.2010 Investment AdvisorCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 8'245'000 1.89 (2'070'000) 30.06.2010 Investment AdvisorUBS STRATEGY FUND MG Multiple Portfolios MF-AGG 5'818'414 1.34 2'841'832 29.10.2010 Investment AdvisorOPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 4'726'400 1.08 914'400 31.10.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 4'161'908 0.95 - 31.12.2010 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 3'599'524 0.83 (249'130) 30.06.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'232'431 0.51 5'313 31.12.2010 Mutual Fund ManagerUBS INSTITUTIONAL FU Multiple Portfolios MF-AGG 1'110'447 0.25 648'453 29.10.2010 Mutual Fund ManagerFISHER MARK n/a 20F 941'672 0.22 - 31.05.2010 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
UBS DAVID LEITCH neutral 3 M 7 12 month 04.02.2011JPMorgan JASON HARLEY STEED neutral 3 U 6 15 month 31.01.2011Commonwealth Bank MICHAEL WARD hold 3 M 6 12 month 31.01.2011Goldman Sachs & Partners Australia MATTHEW MCNEE hold 3 M 7 Not Provided 20.01.2011RBS ANDREW G SCOTT sell 1 M 5 12 month 17.01.2011Deutsche Bank EMILY BEHNCKE sell 1 D 6 12 month 23.12.2010Credit Suisse ROHAN GALLAGHER underperform 1 M 6 Not Provided 08.12.2010Macquarie DOUGLAS MACPHILLAMY outperform 5 M 7 12 month 16.11.2010Citi HUGH DIVE buy 5 M 7 Not Provided 15.11.2010Nomura SIMON THACKRAY reduce 2 D 5 Not Provided 15.11.2010Paterson Securities BEN KAKOSCHKE hold 3 M 6 12 month 15.11.2010E.L. & C. Baillieu SIMON DUMARESQ accumulate 4 M 9 12 month 13.08.2010
EBITDA 223.82 Long-Term Rating Date -EBIT 196.54 Long-Term Rating -Operating Margin 6.64% Long-Term Outlook -Pretax Margin 5.36% Short-Term Rating Date -Return on Assets 14.81% Short-Term Rating -Return on Common Equity 49.23%Return on Capital 30.44% EBITDA/Interest Exp. 37.50Asset Turnover 4.00% (EBITDA-Capex)/Interest Exp. 29.95
Net Debt/EBITDA 0.92Gross Margin 22.0% Total Debt/EBITDA 1.04EBITDA Margin 7.6%EBIT Margin 6.6% Total Debt/Equity 152.7%Net Income Margin 3.7% Total Debt/Capital 60.4%
Asset Turnover 4.00Current Ratio 1.45 Net Fixed Asset Turnover 17.74Quick Ratio 0.11 Accounts receivable turnover-days 1.34Debt to Assets 30.32% Inventory Days 58.67Tot Debt to Common Equity 152.70% Accounts Payable Turnover Day 40.01Accounts Receivable Turnover 271.75 Cash Conversion Cycle 20.00Inventory Turnover 6.22
Fiscal Year Ended
JB Hi-Fi LtdPrice/Volume
Valuation Analysis
964'129.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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.2
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeINTEGRITY INVESTMENT n/a EXCH 10'229'948 9.37 (70'000) 14.01.2011 n/aFIDELITY MANAGEMENT n/a EXCH 5'751'151 5.27 (1'096'733) 09.12.2010 Investment AdvisorCONCORD CAPITAL INVE n/a EXCH 5'532'888 5.07 - 16.08.2010 OtherUBS AG n/a EXCH 5'513'059 5.05 - 01.02.2011 Investment AdvisorWESTPAC BANKING CORP n/a EXCH 5'511'451 5.05 - 06.12.2010 BankNATIONAL AUSTRALIA B #N/A N/A EXCH 5'507'906 5.04 - 03.02.2011 BankCOMMONWEALTH BANK OF n/a EXCH 5'336'663 4.89 (82'484) 10.05.2010 BankBLACKROCK INVESTMENT n/a EXCH 5'288'992 4.84 (2'644'410) 10.02.2010 Investment AdvisorSMART TERRY n/a EXCH 1'500'000 1.37 - 13.10.2010 n/aUECHTRITZ RICHARD AN n/a EXCH 1'000'000 0.92 - 28.05.2010 n/aWILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 870'890 0.8 55'459 30.09.2010 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 754'811 0.69 (158'719) 30.06.2010 Investment AdvisorMIRAE ASSET INVESTME Multiple Portfolios MF-AGG 574'267 0.53 (73'699) 30.09.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 555'660 0.51 1'353 31.12.2010 Mutual Fund ManagerINVESCO LTD Multiple Portfolios MF-AGG 402'689 0.37 - 07.02.2011 Investment AdvisorPRINCIPAL LIFE INSUR PRINCIPAL LIFE INSUR Sch-D 360'846 0.33 (272'170) 30.06.2010 Insurance CompanyMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 336'789 0.31 (111'751) 31.12.2010 Mutual Fund ManagerFIDELITY INVESTMENTS Multiple Portfolios MF-AGG 327'734 0.3 - 31.12.2009 Mutual Fund ManagerDAIWA ASSET MANAGEME Multiple Portfolios MF-AGG 297'700 0.27 95'700 15.07.2010 Investment AdvisorFIDELITY INVT ASSET Multiple Portfolios MF-AGG 246'920 0.23 246'920 30.09.2010 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie ROB BLYTHE outperform 5 M 23 12 month 08.02.2011Goldman Sachs & Partners Australia PHILLIP KIMBER buy 5 M 25 Not Provided 08.02.2011Deutsche Bank ALEXI BAKER-MCLENNAN hold 3 M 21 12 month 07.02.2011Morgan Stanley THOMAS KIERATH Equalwt/In-Line 3 D 20 12 month 07.02.2011Credit Suisse GRANT SALIGARI neutral 3 M 22 Not Provided 07.02.2011UBS BEN GILBERT buy 5 M 22 12 month 07.02.2011JPMorgan SHAUN COUSINS underweight 1 D 19 6 month 07.02.2011Wilson HTM Investment Group JACQUELINE FERNLEY buy 5 U 22 Not Provided 07.02.2011Nomura DAVID COOKE buy 5 M 25 Not Provided 07.02.2011Paterson Securities RUSSELL WRIGHT buy 5 M 22 12 month 07.02.2011Foster Stockbroking DOMINIC ROSE buy 5 M 22 Not Provided 07.02.2011Moelis & Company TODD W GUYOT hold 3 M 20 12 month 07.02.2011LINWAR Securities MARK WADE underperform 1 M 18 12 month 31.01.2011RBS DANIEL BROEREN buy 5 U 22 12 month 12.01.2011Citi CRAIG WOOLFORD hold 3 M 20 Not Provided 21.12.2010Commonwealth Bank ANDREW MCLENNAN sell 1 D 18 12 month 13.10.2010Ord Minnett RICHARD IVERS lighten 2 D 20 Not Provided 27.09.2010Evans & Partners Pty Ltd TONY WILSON neutral 3 M #N/A N/A Not Provided 23.08.2010CLSA Asia Pacific Markets JAMES PATERSON buy 5 N 23 Not Provided 28.05.2010Austock Securities THOMAS HODSON hold 3 M 20 Not Provided 08.02.2010
Leighton Holdings Limited offers a variety of project development and contract-
ing services to public and private sector clients in the Asia-Pacific region.Leighton provides design management, civil engineering construction, building,mining, process engineering, telecommunications, waste management and infra-structure operation and maintenance and property development and management.
Latest Fiscal Year: 06/2011LTM as of: 09/yy52-Week High (25.10.2010) 37.2652-Week Low (15.09.2011) 16.79Daily Volume
EBITDA 989.70 Long-Term Rating Date 12.04.2011EBIT 123.50 Long-Term Rating BBB *-Operating Margin 0.80% Long-Term Outlook -Pretax Margin -3.16% Short-Term Rating Date 12.04.2011Return on Assets -4.40% Short-Term Rating A-2 *-Return on Common Equity -17.03%Return on Capital 19.01% EBITDA/Interest Exp. 8.07Asset Turnover 1.67% (EBITDA-Capex)/Interest Exp. -3.17
Net Debt/EBITDA 0.42Gross Margin - Total Debt/EBITDA 1.85EBITDA Margin 6.4%EBIT Margin 0.8% Total Debt/Equity 81.7%Net Income Margin -2.6% Total Debt/Capital 44.1%
Asset Turnover 1.67Current Ratio 0.94 Net Fixed Asset Turnover 6.68Quick Ratio 0.77 Accounts receivable turnover-days 52.60Debt to Assets 18.64% Inventory Days -Tot Debt to Common Equity 81.66% Accounts Payable Turnover Day -Accounts Receivable Turnover 6.94 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Leighton Holdings LtdPrice/Volume
Valuation Analysis
981'799.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'2
-'-2.'.20'021'12
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeHOCHTIEF AG n/a EXCH 163'844'626 54.21 13'194'216 16.09.2010 CorporationCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 5'728'928 1.9 - 30.09.2010 Investment AdvisorINVESCO LTD Multiple Portfolios MF-AGG 2'361'336 0.78 757 07.02.2011 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 1'583'772 0.52 93'278 31.12.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'315'675 0.44 - 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 1'119'521 0.37 15'355 31.12.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 746'593 0.25 36'512 31.12.2010 Mutual Fund ManagerOPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 627'770 0.21 110'200 31.10.2010 Investment AdvisorCHINA INTERNATIONAL Multiple Portfolios MF-AGG 600'000 0.2 600'000 30.06.2010 Investment AdvisorABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 563'910 0.19 (3'200) 31.12.2010 Investment AdvisorDJE INVESTMENT SA Multiple Portfolios MF-AGG 458'000 0.15 29'000 29.11.2010 Mutual Fund ManagerSUMITOMO MITSUI ASSE Multiple Portfolios MF-AGG 316'211 0.1 50'656 21.09.2010 Mutual Fund ManagerMAPS INVESTMENT MANA Multiple Portfolios MF-AGG 282'847 0.09 (780'169) 30.09.2010 Mutual Fund ManagerCREDIT SUISSE ASSET Multiple Portfolios MF-AGG 270'000 0.09 (50'000) 29.10.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 249'102 0.08 (84'177) 31.12.2010 Mutual Fund ManagerSJUNDE AP FONDEN Multiple Portfolios MF-AGG 223'264 0.07 75'518 30.09.2010 Investment AdvisorHI ASSET MANAGEMENT Multiple Portfolios MF-AGG 194'803 0.06 - 30.09.2010 Mutual Fund ManagerUBS GLOBAL ASSET MAN Multiple Portfolios MF-AGG 176'002 0.06 48'869 30.09.2010 Investment AdvisorSTB ASSET MANAGEMENT Multiple Portfolios MF-AGG 161'188 0.05 (59'542) 30.09.2010 Mutual Fund ManagerSAXELBY DAVID KING n/a Co File 130'894 0.04 - 30.06.2010 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse CHRIS COUNIHAN restricted #N/A N/A M #N/A N/A Not Provided 08.02.2011Deutsche Bank CRAIG WONGPAN buy 5 M 36 12 month 07.02.2011Commonwealth Bank BEN BROWNETTE sell 1 D 29 12 month 02.02.2011Paterson Securities GRAEME CARSON hold 3 D 36 12 month 31.01.2011CLSA Asia Pacific Markets ANDREW JOHNSTON sell 1 M 29 Not Provided 20.01.2011Macquarie JOHN PURTELL underperform 1 M 32 12 month 18.01.2011Goldman Sachs & Partners Australia CHRIS SAVAGE hold 3 M 39 Not Provided 18.01.2011E.L. & C. Baillieu SAM HADDAD accumulate 4 M 37 12 month 18.01.2011RBS ANDREW HODGE hold 3 M 31 12 month 12.01.2011JPMorgan ALISTAIR REID overweight 5 M 34 12 month 12.01.2011Citi GUY ROBINSON hold 3 M 32 Not Provided 12.01.2011Nomura SIMON THACKRAY reduce 2 M 29 Not Provided 04.01.2011UBS JOHN FREEDMAN neutral 3 M 34 12 month 02.11.2010
EBITDA 144.90 Long-Term Rating Date 25.02.2010EBIT 92.80 Long-Term Rating BBB-Operating Margin 1.05% Long-Term Outlook STABLEPretax Margin 7.18% Short-Term Rating Date 25.02.2010Return on Assets 4.19% Short-Term Rating A-3Return on Common Equity 14.25%Return on Capital 11.51% EBITDA/Interest Exp. 1.23Asset Turnover 0.75% (EBITDA-Capex)/Interest Exp. -0.36
Net Debt/EBITDA 4.47Gross Margin 10.3% Total Debt/EBITDA 11.69EBITDA Margin 1.6%EBIT Margin 1.1% Total Debt/Equity 47.1%Net Income Margin 5.6% Total Debt/Capital 31.8%
Asset Turnover 0.75Current Ratio 0.71 Net Fixed Asset Turnover 2.52Quick Ratio 0.39 Accounts receivable turnover-days 47.70Debt to Assets 13.94% Inventory Days 29.60Tot Debt to Common Equity 47.08% Accounts Payable Turnover Day 69.93Accounts Receivable Turnover 7.65 Cash Conversion Cycle 7.37Inventory Turnover 12.33
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Lend Lease GroupPrice/Volume
Valuation Analysis
1'012'699.00Current Price (9/dd/yy) Market Data
'-.0123456
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie PAUL JUNIPER outperform 5 M 10 12 month 04.02.2011JPMorgan ALISTAIR REID neutral 3 M 10 12 month 01.02.2011Deutsche Bank IAN RANDALL hold 3 M 10 12 month 26.01.2011Goldman Sachs & Partners Australia SIMON WHEATLEY not rated #N/A N/A M #N/A N/A Not Provided 24.12.2010UBS JOHN FREEDMAN buy 5 M 10 12 month 21.12.2010Citi GUY ROBINSON buy 5 M 10 Not Provided 21.12.2010RBS ANDREW HODGE buy 5 N 11 12 month 17.12.2010
Shares Out 16.08.2011 1'713.8 Short Int 64.092'536.49 1 Yr Total Return 7.64%
Total Debt 0.00 YTD Return -28.16%Preferred Stock 0.0 Adjusted BETA 1.214Minority Interest 0.0 Analyst Recs 13Cash and Equivalents 405.25 Consensus Rating 3.615Enterprise Value 2'264.94
Average Volume 5 Day 36'577'280LYC AT EQUITY YTD Change - Average Volume 30 Day 39'988'070LYC AT EQUITY YTD % CHANGE - Average Volume 3 Month 44'557'660
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeMORGAN STANLEY & CO n/a EXCH 139'073'291 8.37 (17'872'720) 06.12.2010 Investment AdvisorJP MORGAN CHASE & CO n/a EXCH 76'464'897 4.6 (6'583'360) 29.09.2010 Investment AdvisorCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 54'976'902 3.31 - 30.06.2010 Investment AdvisorCAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 43'544'600 2.62 (34'757'598) 30.09.2010 Investment AdvisorJPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 25'500'000 1.53 - 30.09.2010 Investment AdvisorVAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 16'252'621 0.98 111'422 04.02.2011 Investment AdvisorCURTIS NICHOLAS ANTH n/a EXCH 16'045'758 0.97 (7'000'000) 31.01.2011 n/aCARMIGNAC GESTION Multiple Portfolios MF-AGG 14'500'000 0.87 2'000'000 31.12.2010 Investment AdvisorGENERAL ELECTRIC COM Multiple Portfolios MF-AGG 13'080'263 0.79 13'080'263 30.11.2010 CorporationUNION INVESTMENT GMB Multiple Portfolios MF-AGG 10'000'000 0.6 10'000'000 30.09.2010 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 9'655'187 0.58 - 31.10.2009 Investment AdvisorFIRST STATE INVESTME Multiple Portfolios MF-AGG 8'789'053 0.53 (127'906) 31.08.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 8'231'772 0.5 411'304 31.12.2010 Mutual Fund ManagerTRANSAMERICA INVESTM Multiple Portfolios MF-AGG 8'229'818 0.5 6'245'192 30.09.2010 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 7'490'450 0.45 (538'478) 31.12.2010 Investment AdvisorDEUTSCHE BANK AG Multiple Portfolios MF-AGG 5'850'403 0.35 - 31.12.2010 Investment AdvisorALLIANCEBERNSTEIN LU Multiple Portfolios MF-AGG 5'595'894 0.34 9'604 30.04.2010 Investment AdvisorNESTOR INVESTMENT MA Multiple Portfolios MF-AGG 3'838'794 0.23 550'000 30.06.2010 Mutual Fund ManagerJUPITER ASSET MANAGE Multiple Portfolios MF-AGG 3'000'000 0.18 (326'933) 31.07.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 2'609'112 0.16 (1'930'983) 31.12.2010 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
CLSA Asia Pacific Markets MICHAEL EVANS sell 1 N 2 Not Provided 01.02.2011Byron Capital Markets JONATHAN HYKAWY sell 1 D 1 18 month 28.01.2011Citi CRAIG SAINSBURY sell 1 N 2 Not Provided 26.01.2011Deutsche Bank LEVI SPRY buy 5 M 3 12 month 21.01.2011JPMorgan ALISTAIR REID overweight 5 M 3 12 month 21.01.2011Paterson Securities ANDREW HARRINGTON buy 5 N 3 12 month 06.12.2010Investec HUNTER HILLCOAT buy 5 M 2 12 month 20.10.2010BBY Limited ANDREW SULLIVAN buy 5 M 2 12 month 19.10.2010First Capital Securities Co GUOXIAN JU buy 5 U #N/A N/A Not Provided 10.05.2009
EBITDA 225.66 Long-Term Rating Date -EBIT 195.09 Long-Term Rating -Operating Margin 28.38% Long-Term Outlook -Pretax Margin 47.40% Short-Term Rating Date -Return on Assets 13.04% Short-Term Rating -Return on Common Equity 16.52%Return on Capital 15.98% EBITDA/Interest Exp. 24.46Asset Turnover 0.37% (EBITDA-Capex)/Interest Exp. 23.20
Net Debt/EBITDA -1.46Gross Margin 39.1% Total Debt/EBITDA 0.38EBITDA Margin 32.8%EBIT Margin 28.4% Total Debt/Equity 4.8%Net Income Margin 35.1% Total Debt/Capital 4.5%
Asset Turnover 0.37Current Ratio 9.09 Net Fixed Asset Turnover 2.80Quick Ratio 2.98 Accounts receivable turnover-days 31.57Debt to Assets 4.00% Inventory Days 38.64Tot Debt to Common Equity 4.76% Accounts Payable Turnover Day 25.52Accounts Receivable Turnover 11.56 Cash Conversion Cycle 44.69Inventory Turnover 9.45
Fiscal Year Ended
MacArthur Coal LtdPrice/Volume
Valuation Analysis
861'237.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'.135
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M -' d -' 8 -' d -' a -' a -' 8 -' m -' j -' f -' 9 -' a -- M --!' 7
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCITIC AUSTRALIA COAL n/a EXCH 47'599'810 15.89 4'350'326 31.08.2010 UnclassifiedARCELOR MITTAL n/a Co File 42'219'184 14.1 - 19.08.2010 CorporationEXCEL TRUE INTL LTD n/a EXCH 24'058'543 8.03 17'693'843 25.06.2009 n/aPOSCO n/a Co File 21'215'700 7.08 - 19.08.2010 CorporationUBS AG n/a EXCH 13'155'029 4.39 - 13.05.2010 Investment AdvisorCREDIT SUISSE AG n/a EXCH 12'705'325 4.24 - 04.05.2010 Investment AdvisorTALBOT KENNETH n/a EXCH 10'055'543 3.36 (21'215'700) 25.07.2008 n/aFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 3'825'880 1.28 3'678'450 31.12.2010 Investment AdvisorBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 3'131'067 1.05 (296'477) 04.02.2011 Investment AdvisorWATER ISLAND CAPITAL Multiple Portfolios MF-AGG 1'761'825 0.59 - 30.06.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'689'447 0.56 - 04.02.2011 Investment AdvisorTIAA CREF INVESTMENT Multiple Portfolios MF-AGG 1'461'629 0.49 - 30.11.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 1'317'429 0.44 248'161 31.12.2010 Investment AdvisorMELLON GLOBAL MANAGE Multiple Portfolios MF-AGG 1'300'000 0.43 - 31.12.2010 Mutual Fund ManagerUCA FUNDS MANAGEMENT Multiple Portfolios MF-AGG 852'458 0.28 - 31.12.2010 Mutual Fund ManagerVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 727'790 0.24 1'947 31.12.2010 Mutual Fund ManagerVAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 682'892 0.23 5'156 04.02.2011 Investment AdvisorRELIANCE CAPITAL ASS Multiple Portfolios MF-AGG 675'971 0.23 - 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 646'103 0.22 10'271 31.12.2010 Mutual Fund ManagerPRINCIPAL LIFE INSUR PRINCIPAL LIFE INSUR Sch-D 560'986 0.19 560'986 30.06.2010 Insurance Company
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank BRENDAN FITZPATRICK hold 3 M 14 12 month 07.02.2011Macquarie SOPHIE SPARTALIS outperform 5 M 15 12 month 07.02.2011Goldman Sachs & Partners Australia NEIL GOODWILL buy 5 M 19 Not Provided 02.02.2011E.L. & C. Baillieu ADRIAN PRENDERGAST sell 1 M 11 12 month 28.01.2011RBS TOM SARTOR hold 3 M 13 12 month 27.01.2011Morgan Stanley CAMERON JUDD Equalwt/Attractive 3 M 13 12 month 27.01.2011RBC Capital Markets CHRIS DREW sector perform 3 M 12 12 month 27.01.2011Credit Suisse PAUL MCTAGGART neutral 3 M 13 Not Provided 27.01.2011JPMorgan ALISTAIR REID neutral 3 M 12 12 month 27.01.2011Wilson HTM Investment Group ANDREW PEDLER buy 5 M 15 Not Provided 27.01.2011CLSA Asia Pacific Markets HAYDEN BAIRSTOW buy 5 M 17 Not Provided 27.01.2011UBS GLYN LAWCOCK neutral 3 M 15 12 month 20.01.2011Paterson Securities ANDREW HARRINGTON buy 5 M 15 12 month 06.12.2010MF Global Equities Research ANDREW GARDNER neutral 3 M #N/A N/A Not Provided 09.11.2010Investec COLIN MCLELLAND hold 3 M 12 12 month 20.10.2010Citi CRAIG SAINSBURY sell 1 D 12 Not Provided 24.08.2010BGF Equities Pty Ltd ROD BUCKTON buy 5 N #N/A N/A Not Provided 26.07.2010Foster Stockbroking TEAM COVERAGE buy 5 N 15 Not Provided 29.06.2010
Macquarie Group Ltd. offers banking, financial advisory, investment and funds
management services. The Company offers financial advice, cash management,wealth management and private banking, life insurance, securities brokerage,corporate debt financing, real estate funds management, real estate developmentfinancing, investment funds management, and foreign exchange services.
Latest Fiscal Year: 03/2011LTM as of: 01/yy52-Week High (04.02.2011) 41.9552-Week Low (15.09.2011) 20.90Daily Volume
EBITDA - Long-Term Rating Date 16.11.2007EBIT - Long-Term Rating A-Operating Margin 13.96% Long-Term Outlook STABLEPretax Margin 16.82% Short-Term Rating Date 16.11.2007Return on Assets 0.63% Short-Term Rating A-2Return on Common Equity 8.45%Return on Capital 1.20% EBITDA/Interest Exp. -Asset Turnover 0.08% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 601.9%Net Income Margin 12.7% Total Debt/Capital 85.2%
Asset Turnover 0.08Current Ratio - Net Fixed Asset Turnover 4.13Quick Ratio - Accounts receivable turnover-days -Debt to Assets 43.57% Inventory Days -Tot Debt to Common Equity 601.94% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Macquarie Group LtdPrice/Volume
Valuation Analysis
1'299'034.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Keefe, Bruyette & Woods BILL STACEY outperform 5 M 45 12 month 08.02.2011CLSA Asia Pacific Markets BRIAN D JOHNSON buy 5 M 48 Not Provided 08.02.2011Morgan Stanley RICHARD E WILES Equalwt/In-Line 3 M 39 12 month 07.02.2011RBS ANDREW LYONS buy 5 M 46 12 month 04.02.2011BBY Limited BRETT LE MESURIER underperform 1 N 34 12 month 02.02.2011Goldman Sachs & Partners Australia BENJAMIN KOO hold 3 M 43 Not Provided 01.02.2011JPMorgan SCOTT MANNING neutral 3 M 36 6 month 28.01.2011UBS JONATHAN MOTT suspended coverage #N/A N/A M #N/A N/A Not Provided 25.01.2011Southern Cross TS LIM buy 5 N 47 12 month 25.01.2011Credit Suisse JAMES ELLIS outperform 5 M 48 Not Provided 13.01.2011Deutsche Bank JAMES FREEMAN buy 5 M 46 12 month 29.10.2010Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT outperform 5 M 40 Not Provided 26.10.2010Citi WES NASON hold 3 M 37 Not Provided 06.09.2010Commonwealth Bank PETER EPHRAUMS Under Review #N/A N/A M #N/A N/A Not Provided 08.02.2008
EBITDA 789.01 Long-Term Rating Date 01.02.2010EBIT - Long-Term Rating NROperating Margin -0.40% Long-Term Outlook -Pretax Margin -0.21% Short-Term Rating Date -Return on Assets 0.69% Short-Term Rating -Return on Common Equity 1.94%Return on Capital 0.44% EBITDA/Interest Exp. -Asset Turnover 0.07% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA 6.24Gross Margin - Total Debt/EBITDA 7.83EBITDA Margin 79.2%EBIT Margin - Total Debt/Equity 125.3%Net Income Margin 10.1% Total Debt/Capital 53.4%
Asset Turnover 0.07Current Ratio - Net Fixed Asset Turnover 0.39Quick Ratio - Accounts receivable turnover-days -Debt to Assets 43.15% Inventory Days -Tot Debt to Common Equity 125.27% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
MAp GroupPrice/Volume
Valuation Analysis
3'470'685.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank CAMERON MCDONALD buy 5 M 4 12 month 08.02.2011JPMorgan KIRSTY MACKAY-FISHER overweight 5 M 3 12 month 04.02.2011Goldman Sachs & Partners Australia JONATHAN COLLETT buy 5 M 4 Not Provided 04.02.2011Austock Securities ANDREW CHAMBERS hold 3 M 3 Not Provided 28.01.2011Morgan Stanley SCOTT KELLY Overwt/In-Line 5 M 3 12 month 20.01.2011Macquarie IAN MYLES outperform 5 M 3 12 month 20.01.2011UBS XU HAN neutral 3 M 3 12 month 11.10.2010RBS LUKE MACNAB buy 5 U 4 12 month 25.02.2010Commonwealth Bank CASSANDRA MEAGHER Under Review #N/A N/A M #N/A N/A Not Provided 21.05.2008
Metcash Limited is a marketing and distribution company operating in the food
and other consumer goods sectors. The Company operates distribution centersserving grocery products for independent retail grocery stores, liquordistribution centers and cash and carry warehouses which serve retailers andbusinesses in the grocery, liquor, food services and convenience stores.
Latest Fiscal Year: 04/2011LTM as of: 01/yy52-Week High (15.11.2010) 4.5752-Week Low (09.08.2011) 3.62Daily Volume
EBITDA 398.40 Long-Term Rating Date -EBIT 345.10 Long-Term Rating -Operating Margin 2.79% Long-Term Outlook -Pretax Margin 2.89% Short-Term Rating Date -Return on Assets 6.49% Short-Term Rating -Return on Common Equity 17.93%Return on Capital 13.72% EBITDA/Interest Exp. 5.39Asset Turnover 3.32% (EBITDA-Capex)/Interest Exp. 4.92
Net Debt/EBITDA 1.71Gross Margin 9.5% Total Debt/EBITDA 2.10EBITDA Margin 3.2%EBIT Margin 2.8% Total Debt/Equity 60.7%Net Income Margin 2.0% Total Debt/Capital 36.7%
Asset Turnover 3.32Current Ratio 1.45 Net Fixed Asset Turnover 63.03Quick Ratio 0.68 Accounts receivable turnover-days 25.33Debt to Assets 21.98% Inventory Days 27.77Tot Debt to Common Equity 60.74% Accounts Payable Turnover Day 37.09Accounts Receivable Turnover 14.41 Cash Conversion Cycle 16.01Inventory Turnover 13.14
Fiscal Year Ended
Metcash LtdPrice/Volume
Valuation Analysis
2'761'404.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'--..001122
M -' d -' 8 -' d -' a -' a -' 8 -' m -' j -' f -' 9 -' a -- M --!' 7.!' 71!' 73!' 75!' 7-'!' 7-.!' 7-1!' 7-3!' 7-5!' 7
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan SHAUN COUSINS underweight 1 M 4 12 month 03.02.2011Nomura DAVID COOKE reduce 2 M 4 Not Provided 02.02.2011Morgan Stanley THOMAS KIERATH Overwt/In-Line 5 U 5 12 month 19.01.2011LINWAR Securities MARK WADE outperform 5 M 5 12 month 02.12.2010Credit Suisse GRANT SALIGARI underperform 1 M 4 Not Provided 01.12.2010Macquarie GREG DRING neutral 3 D 4 12 month 01.12.2010Shaw Stockbroking SCOTT MARSHALL accumulate 4 D #N/A N/A Not Provided 01.12.2010RBS DANIEL BROEREN buy 5 U 5 12 month 30.11.2010Deutsche Bank ALEXI BAKER-MCLENNAN hold 3 M 5 12 month 30.11.2010UBS BEN GILBERT neutral 3 M 4 12 month 30.11.2010Goldman Sachs & Partners Australia PHILLIP KIMBER hold 3 M 5 Not Provided 30.11.2010Commonwealth Bank ANDREW MCLENNAN sell 1 M 4 12 month 30.11.2010Paterson Securities RUSSELL WRIGHT hold 3 D 4 12 month 30.11.2010Citi CRAIG WOOLFORD buy 5 M 5 Not Provided 17.11.2010Evans & Partners Pty Ltd TONY WILSON neutral 3 M #N/A N/A Not Provided 23.08.2010Austock Securities THOMAS HODSON hold 3 M 5 Not Provided 01.12.2009
Mirvac Group is involved in property investment, management and development in
Australia and New Zealand. The Group is also involved in hotel ownership andmanagement along with funds management. The Group's portfolio includes office,commercial, retail, and industrial properties and car parks.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (21.09.2010) 1.4252-Week Low (11.08.2011) 0.96Daily Volume
Shares Out 30.06.2011 3'416.9 Short Int 38.683'929.46 1 Yr Total Return -11.76%
Total Debt 2'736.30 YTD Return -2.93%Preferred Stock 0.0 Adjusted BETA 0.896Minority Interest 12.5 Analyst Recs 11Cash and Equivalents 673.10 Consensus Rating 4.091Enterprise Value 6'005.16
Average Volume 5 Day 18'967'080MGR AT EQUITY YTD Change - Average Volume 30 Day 17'021'690MGR AT EQUITY YTD % CHANGE - Average Volume 3 Month 15'934'860
EBITDA 425.50 Long-Term Rating Date 16.07.2009EBIT 394.30 Long-Term Rating BBBOperating Margin 23.13% Long-Term Outlook STABLEPretax Margin 4.64% Short-Term Rating Date 16.07.2009Return on Assets 2.14% Short-Term Rating A-2Return on Common Equity 3.31%Return on Capital - EBITDA/Interest Exp. 1.98Asset Turnover 0.20% (EBITDA-Capex)/Interest Exp. 1.40
Net Debt/EBITDA 4.85Gross Margin 40.2% Total Debt/EBITDA 6.43EBITDA Margin 25.0%EBIT Margin 23.1% Total Debt/Equity 49.0%Net Income Margin 10.7% Total Debt/Capital 32.8%
Asset Turnover 0.20Current Ratio 1.28 Net Fixed Asset Turnover 0.33Quick Ratio 0.63 Accounts receivable turnover-days 9.98Debt to Assets 29.94% Inventory Days 200.91Tot Debt to Common Equity 49.01% Accounts Payable Turnover Day 15.68Accounts Receivable Turnover 36.58 Cash Conversion Cycle 195.21Inventory Turnover 1.82
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Mirvac GroupPrice/Volume
Valuation Analysis
7'233'845.00Current Price (9/dd/yy) Market Data
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M -' d -' 8 -' d -' a -' a -' 8 -' m -' j -' f -' 9 -' a -- M --!' 7-'!' 7.'!' 70'!' 71'!' 72'!' 73'!' 74'!' 75'!' 76'!' 7
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCOMMONWEALTH BANK OF n/a EXCH 259'557'700 7.6 81'889'310 26.10.2010 BankING GROEP NV n/a Co File 189'513'841 5.55 - 11.08.2010 Investment AdvisorVANGUARD GROUP INC n/a Co File 186'167'992 5.45 - 11.08.2010 Investment AdvisorAUSBIL DEXIA LIMITED n/a EXCH 177'935'136 5.21 (30'079'809) 11.10.2010 Investment AdvisorMAPLE-BROWN ABBOTT L n/a EXCH 171'290'189 5.01 - 20.10.2010 Investment AdvisorMIRVAC LTD n/a EXCH 168'487'978 4.93 21'271'334 25.07.2008 CorporationBLACKROCK INVESTMENT n/a Co File 154'704'716 4.53 - 11.08.2010 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 146'422'290 4.29 3'972'910 09.12.2009 BankAMP LTD n/a EXCH 139'235'191 4.08 (1'431'308) 26.11.2009 Insurance CompanyBARCLAYS PLC n/a Co File 137'805'294 4.03 - 11.08.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 135'855'974 3.98 473'472 31.12.2010 Mutual Fund ManagerCOHEN & STEERS CAPIT Multiple Portfolios MF-AGG 105'728'940 3.1 13'757'830 03.02.2011 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 64'368'674 1.88 93'129 31.12.2010 Mutual Fund ManagerBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 36'204'767 1.06 - 04.02.2011 Investment AdvisorCOLONIAL FIRST STATE Multiple Portfolios MF-AGG 35'970'013 1.05 1'515'152 09.08.2010 Investment AdvisorNOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 32'665'850 0.96 (808'196) 22.06.2010 Investment AdvisorT ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 31'110'422 0.91 (1'571'631) 31.12.2010 Investment AdvisorMORGAN STANLEY & CO Multiple Portfolios MF-AGG 20'402'848 0.6 1'290'525 30.09.2010 Investment AdvisorABN AMRO ASSET MGMT Multiple Portfolios MF-AGG 19'529'220 0.57 14'221'426 20.07.2010 Investment AdvisorNIKKO ASSET MANAGEME Multiple Portfolios MF-AGG 17'346'650 0.51 4'969'407 16.08.2010 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
CLSA Asia Pacific Markets BRYAN HOWITT underperform 1 M 1 Not Provided 08.02.2011JPMorgan RICHARD JONES overweight 5 M 1 12 month 04.02.2011Macquarie PAUL CHECCHIN neutral 3 M 1 12 month 04.02.2011Deutsche Bank MATTHEW BERTRAM buy 5 M 1 12 month 26.01.2011Credit Suisse ROWENA CAUSLEY outperform 5 M 2 Not Provided 25.01.2011UBS JOHN FREEDMAN neutral 3 M 1 12 month 25.01.2011Goldman Sachs & Partners Australia PETER ZUK buy 5 M 2 Not Provided 14.01.2011Commonwealth Bank DAVID LLOYD buy 5 M 1 12 month 10.01.2011Citi DAVID BURGESS hold 3 M 1 Not Provided 01.12.2010Morgan Stanley LOURENS PIRENC Equalwt/In-Line 3 U 1 12 month 24.08.2010
Myer Holdings Ltd. operates department stores. The Company retails womens
wear, mens wear, youth fashion, childrens wear, intimate apparel, beauty,fragrance and cosmetics, housewares, electrical goods, toys, fashionaccessories, and general merchandise.
Latest Fiscal Year: 07/2011LTM as of: 01/yy52-Week High (21.09.2010) 4.0252-Week Low (09.08.2011) 2.00Daily Volume
EBITDA 294.79 Long-Term Rating Date -EBIT 215.34 Long-Term Rating -Operating Margin 8.07% Long-Term Outlook -Pretax Margin 8.29% Short-Term Rating Date -Return on Assets 8.12% Short-Term Rating -Return on Common Equity 18.67%Return on Capital 14.62% EBITDA/Interest Exp. 7.77Asset Turnover 1.36% (EBITDA-Capex)/Interest Exp. 4.17
Net Debt/EBITDA 1.30Gross Margin 41.8% Total Debt/EBITDA 1.42EBITDA Margin 11.1%EBIT Margin 8.1% Total Debt/Equity 49.1%Net Income Margin 6.0% Total Debt/Capital 32.8%
Asset Turnover 1.36Current Ratio 0.81 Net Fixed Asset Turnover 5.32Quick Ratio 0.10 Accounts receivable turnover-days 2.25Debt to Assets 21.21% Inventory Days 86.37Tot Debt to Common Equity 49.15% Accounts Payable Turnover Day 49.40Accounts Receivable Turnover 161.97 Cash Conversion Cycle 39.22Inventory Turnover 4.23
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Myer Holdings LtdPrice/Volume
Valuation Analysis
4'121'496.00Current Price (9/dd/yy) Market Data
'--..00112
M -' d -' 8 -' d -' a -' a -' 8 -' m -' j -' f -' 9 -' a -- M --!' 72!' 7-'!' 7-2!' 7.'!' 7.2!' 70'!' 702!' 71'!' 712!' 72'!' 7
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse GRANT SALIGARI neutral 3 M 4 Not Provided 08.02.2011JPMorgan SHAUN COUSINS neutral 3 D 3 6 month 08.02.2011Macquarie CHARLOTTE LANG neutral 3 D 3 12 month 08.02.2011Deutsche Bank ALEXI BAKER-MCLENNAN buy 5 M 4 12 month 07.02.2011Morgan Stanley THOMAS KIERATH Equalwt/In-Line 3 M 3 12 month 07.02.2011UBS BEN GILBERT buy 5 M 4 12 month 07.02.2011Citi CRAIG WOOLFORD hold 3 M 4 Not Provided 07.02.2011Goldman Sachs & Partners Australia PHILLIP KIMBER buy 5 M 5 Not Provided 07.02.2011Nomura NICK BERRY neutral 3 D 4 Not Provided 07.02.2011Paterson Securities RUSSELL WRIGHT hold 3 D 3 12 month 07.02.2011Southern Cross PARESH PATEL accumulate 4 D 3 12 month 07.02.2011RBS DANIEL BROEREN buy 5 M 5 12 month 12.01.2011Commonwealth Bank ANDREW MCLENNAN buy 5 M 5 12 month 12.11.2010Shaw Stockbroking LISA GLICK accumulate 4 N #N/A N/A Not Provided 20.09.2010Evans & Partners Pty Ltd TONY WILSON neutral 3 M #N/A N/A Not Provided 23.08.2010CLSA Asia Pacific Markets JAMES PATERSON outperform 5 N 4 Not Provided 28.05.2010
National Australia Bank Limited is an international banking group which operates
in Australia, New Zealand, Europe, Asia and the United States. The Group offersbanking services, credit and access card facilities, leasing, housing andgeneral finance, international and investment banking, wealth and fundsmanagement, life insurance and custodian, trustee and nominee services.
Latest Fiscal Year: 09/2010LTM as of: 01/yy52-Week High (09.05.2011) 28.1852-Week Low (09.08.2011) 19.64Daily Volume
EBITDA - Long-Term Rating Date 22.02.2007EBIT - Long-Term Rating AAOperating Margin 28.28% Long-Term Outlook STABLEPretax Margin 28.15% Short-Term Rating Date 21.07.1992Return on Assets 0.61% Short-Term Rating A-1+Return on Common Equity 11.45%Return on Capital 2.10% EBITDA/Interest Exp. -Asset Turnover 0.06% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 447.9%Net Income Margin 20.9% Total Debt/Capital 80.7%
Asset Turnover 0.06Current Ratio - Net Fixed Asset Turnover 21.60Quick Ratio - Accounts receivable turnover-days -Debt to Assets 23.74% Inventory Days -Tot Debt to Common Equity 447.86% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
National Australia Bank LtdPrice/Volume
Valuation Analysis
6'721'974.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley RICHARD E WILES Overwt/Cautious 5 M 28 12 month 08.02.2011Macquarie CRAIG TURTON underperform 1 M 25 12 month 08.02.2011Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT hold 3 M 27 Not Provided 08.02.2011CLSA Asia Pacific Markets BRIAN D JOHNSON underperform 1 M 24 Not Provided 08.02.2011JPMorgan SCOTT MANNING neutral 3 U 28 12 month 02.02.2011Goldman Sachs & Partners Australia BENJAMIN KOO buy 5 M 32 Not Provided 02.02.2011Southern Cross TS LIM reduce 2 D 25 12 month 02.02.2011Nomura VICTOR GERMAN neutral 3 M 27 Not Provided 01.02.2011UBS JONATHAN MOTT neutral 3 M 26 12 month 28.01.2011RBS ANDREW LYONS buy 5 M 30 12 month 19.01.2011Credit Suisse JARROD MARTIN outperform 5 U 28 Not Provided 11.01.2011BBY Limited BRETT LE MESURIER hold 3 D 26 12 month 13.12.2010Citi CRAIG WILLIAMS hold 3 D 26 Not Provided 03.12.2010Deutsche Bank JAMES FREEMAN hold 3 M 26 12 month 27.10.2010Commonwealth Bank BEN ZUCKER hold 3 M 27 12 month 27.10.2010
Newcrest Mining Limited is a gold mining, exploration and production company.
The Company's exploration projects include Telfer and Boddington which arelocated in Western Australia. The Company also is developing and exploring atthe Cadia Hill and Ridgeway projects in New South Wales and the Gosowong projectin Indonesia.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (09.11.2010) 43.7152-Week Low (17.03.2011) 35.15Daily Volume
EBITDA 2'146.00 Long-Term Rating Date -EBIT 1'554.00 Long-Term Rating -Operating Margin 37.88% Long-Term Outlook -Pretax Margin 31.69% Short-Term Rating Date -Return on Assets 7.69% Short-Term Rating -Return on Common Equity 9.70%Return on Capital 9.76% EBITDA/Interest Exp. 93.30Asset Turnover 0.35% (EBITDA-Capex)/Interest Exp. 77.83
Net Debt/EBITDA 0.29Gross Margin 41.5% Total Debt/EBITDA 0.37EBITDA Margin 52.3%EBIT Margin 37.9% Total Debt/Equity 5.8%Net Income Margin 22.1% Total Debt/Capital 5.5%
Asset Turnover 0.35Current Ratio 1.89 Net Fixed Asset Turnover 1.62Quick Ratio 0.77 Accounts receivable turnover-days 21.52Debt to Assets 4.63% Inventory Days 72.82Tot Debt to Common Equity 5.81% Accounts Payable Turnover Day 29.25Accounts Receivable Turnover 16.96 Cash Conversion Cycle 65.08Inventory Turnover 5.01
Fiscal Year Ended
Newcrest Mining LtdPrice/Volume
Valuation Analysis
2'816'463.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'2
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK INVESTMENT n/a Co File 71'026'060 9.28 - 31.08.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 68'188'188 8.91 10'904'871 22.09.2010 BankBLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 58'888'362 7.7 (1'961'579) 29.10.2010 Investment AdvisorFIDELITY MANAGEMENT n/a EXCH 53'940'769 7.05 4'942'705 19.05.2010 Investment AdvisorBANK OF NEW YORK MEL n/a EXCH 26'477'826 3.46 - 22.09.2010 Investment AdvisorFIRST STATE INVESTME Multiple Portfolios MF-AGG 23'059'098 3.01 201'106 31.08.2010 Investment AdvisorFIRST EAGLE INVESTME Multiple Portfolios MF-AGG 12'733'257 1.66 (752'488) 31.12.2010 Hedge Fund ManagerVANGUARD GROUP INC Multiple Portfolios MF-AGG 8'240'719 1.08 2'021'635 31.12.2010 Investment AdvisorFRANKLIN RESOURCES I Multiple Portfolios MF-AGG 8'036'381 1.05 427'257 31.12.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 7'605'601 0.99 - 03.02.2011 Investment AdvisorCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 4'580'000 0.6 - 30.09.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 3'863'497 0.5 101'558 31.12.2010 Mutual Fund ManagerOPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 3'860'743 0.5 1'345'399 31.10.2010 Investment AdvisorWELLS FARGO FUNDS MA Multiple Portfolios MF-AGG 3'653'375 0.48 (89'819) 30.11.2010 Investment AdvisorGAMCO ASSET MANAGEME Multiple Portfolios MF-AGG 3'075'804 0.4 1'620'908 30.09.2010 Investment AdvisorFIRST STATE INVESTME Multiple Portfolios MF-AGG 2'984'308 0.39 1'077'312 30.09.2010 Mutual Fund ManagerARTIO GLOBAL MANAGEM Multiple Portfolios MF-AGG 2'983'626 0.39 803'025 31.10.2010 Investment AdvisorSKANDIA GLOBAL FUNDS Multiple Portfolios MF-AGG 2'705'402 0.35 (126'882) 29.10.2010 Mutual Fund ManagerNUVEEN ASSET MANAGEM Multiple Portfolios MF-AGG 2'453'813 0.32 20'644 30.11.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 2'281'354 0.3 (23'897) 31.12.2010 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse MICHAEL SLIFIRSKI outperform 5 M 50 Not Provided 08.02.2011Daiwa Securities Capital Markets Co. DAVID BRENNAN hold 3 M 42 Not Provided 08.02.2011RBC Capital Markets GEOFF BREEN outperform 5 M 50 12 month 07.02.2011Deutsche Bank BRENDAN FITZPATRICK buy 5 M 52 12 month 06.02.2011Goldman Sachs & Partners Australia IAN PRESTON buy 5 M 53 Not Provided 02.02.2011Macquarie SOPHIE SPARTALIS outperform 5 M 45 12 month 01.02.2011Austock Securities ANASTASIA KASSIANOS buy 5 M 62 Not Provided 01.02.2011BMO Capital Markets DAVID HAUGHTON outperform 5 M 53 Not Provided 26.01.2011RBS WARREN EDNEY hold 3 M 40 12 month 25.01.2011Morgan Stanley CAMERON JUDD Overwt/Attractive 5 M 45 12 month 25.01.2011UBS JONATHAN BATTERSHILL buy 5 M 46 12 month 25.01.2011JPMorgan FRASER JAMIESON neutral 3 M 46 12 month 25.01.2011Commonwealth Bank ANDREW KNUCKEY buy 5 M 47 12 month 25.01.2011CLSA Asia Pacific Markets HAYDEN BAIRSTOW buy 5 M 55 Not Provided 25.01.2011E.L. & C. Baillieu RAY CHANTRY hold 3 M 35 12 month 25.01.2011Southern Cross PETER CHAPMAN buy 5 M 45 12 month 22.10.2010Investec HUNTER HILLCOAT buy 5 M 44 12 month 20.10.2010Citi CRAIG SAINSBURY hold 3 D 42 Not Provided 08.09.2010Evans & Partners Pty Ltd CATHY MOISES neutral 3 M #N/A N/A Not Provided 23.08.2010Shaw Stockbroking VINCENT PISANI Under Review #N/A N/A M #N/A N/A Not Provided 17.08.2010
News Corporation is a diversified global media company. The Company's
operations include the production and distribution of motion pictures andtelevision programming. The Company provides television, direct satellite, andcable broadcasting and the publication of newspapers, magazines, books andpromotional inserts.
Latest Fiscal Year: 06/2011LTM as of: 12/yy52-Week High (21.02.2011) 18.4852-Week Low (09.08.2011) 13.32Daily Volume
EBITDA 6'133.00 Long-Term Rating Date 18.07.2011EBIT 4'850.00 Long-Term Rating BBB+ *-Operating Margin 14.52% Long-Term Outlook -Pretax Margin 12.50% Short-Term Rating Date -Return on Assets 4.71% Short-Term Rating -Return on Common Equity 10.03%Return on Capital 8.52% EBITDA/Interest Exp. 6.07Asset Turnover 0.57% (EBITDA-Capex)/Interest Exp. 4.91
Net Debt/EBITDA 0.46Gross Margin - Total Debt/EBITDA 2.53EBITDA Margin 18.4%EBIT Margin 14.5% Total Debt/Equity 52.5%Net Income Margin 8.2% Total Debt/Capital 33.8%
Asset Turnover 0.57Current Ratio 2.28 Net Fixed Asset Turnover 5.34Quick Ratio 1.99 Accounts receivable turnover-days 69.72Debt to Assets 25.00% Inventory Days -Tot Debt to Common Equity 52.51% Accounts Payable Turnover Day -Accounts Receivable Turnover 5.24 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
News CorpPrice/Volume
Valuation Analysis
5'174'214.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse JOLANTA MASOJADA neutral 3 M 16 Not Provided 04.02.2011Macquarie ALEX POLLAK neutral 3 M 19 12 month 04.02.2011Goldman Sachs & Partners Australia ADAM ALEXANDER buy 5 M 22 Not Provided 04.02.2011RBS FRASER MCLEISH buy 5 M 20 12 month 03.02.2011BBY Limited MARK MCDONNELL hold 3 D 19 12 month 03.02.2011Commonwealth Bank ALICE BENNETT buy 5 M 20 12 month 03.02.2011Evans & Partners Pty Ltd TONY WILSON Positive 4 M #N/A N/A Not Provided 23.08.2010Deutsche Bank ANDREW ANAGNOSTELLIS restricted #N/A N/A M #N/A N/A Not Provided 15.06.2010BMO Capital Markets JEFFREY B LOGSDON outperform 5 M 23 Not Provided 24.11.2008Cowen and Company DOUGLAS CREUTZ outperform 5 N #N/A N/A Not Provided 19.11.2008
EBITDA 338.45 Long-Term Rating Date -EBIT 288.57 Long-Term Rating -Operating Margin 49.45% Long-Term Outlook -Pretax Margin 47.50% Short-Term Rating Date -Return on Assets 5.04% Short-Term Rating -Return on Common Equity 6.88%Return on Capital 5.96% EBITDA/Interest Exp. 85.79Asset Turnover 0.16% (EBITDA-Capex)/Interest Exp. 71.69
Net Debt/EBITDA -0.99Gross Margin 75.7% Total Debt/EBITDA 2.75EBITDA Margin 58.0%EBIT Margin 49.5% Total Debt/Equity 33.2%Net Income Margin 31.8% Total Debt/Capital 24.9%
Asset Turnover 0.16Current Ratio 4.80 Net Fixed Asset Turnover 0.38Quick Ratio 4.42 Accounts receivable turnover-days 38.22Debt to Assets 21.68% Inventory Days 153.91Tot Debt to Common Equity 33.22% Accounts Payable Turnover Day 542.31Accounts Receivable Turnover 9.55 Cash Conversion Cycle -350.18Inventory Turnover 2.37
Fiscal Year Ended
Oil Search LtdPrice/Volume
Valuation Analysis
2'565'713.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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M -' d -' 8 -' d -' a -' a -' 8 -' m -' j -' f -' 9 -' a -- M --!' 7.!' 71!' 73!' 75!' 7-'!' 7-.!' 7-1!' 7-3!' 7-5!' 7
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeINDEPENDENT PUB BUS n/a Co File 196'604'177 14.97 - 28.02.2010 n/aCAPITAL GROUP COMPAN n/a EXCH 151'131'017 11.51 13'861'338 17.12.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 120'253'089 9.16 14'421'482 26.02.2010 BankCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 67'225'000 5.12 24'300'000 30.09.2010 Investment AdvisorWESTPAC BANKING CORP n/a EXCH 65'132'482 4.96 (1'478'490) 02.09.2010 BankFIDELITY MANAGEMENT n/a EXCH 65'073'440 4.96 (1'047'981) 22.07.2010 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 51'737'153 3.94 (14'680'487) 21.09.2010 BankFIRST STATE INVESTME Multiple Portfolios MF-AGG 30'146'369 2.3 (373'482) 30.09.2010 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 14'055'000 1.07 100'000 30.06.2010 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 12'688'233 0.97 (163'105) 30.06.2010 Investment AdvisorRS INVESTMENT MANAGE Multiple Portfolios MF-AGG 8'812'729 0.67 - 30.09.2010 Investment AdvisorBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 8'459'753 0.64 - 31.12.2010 Investment AdvisorCAPITAL INTERNATIONA Multiple Portfolios MF-AGG 7'617'382 0.58 9'296 31.10.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 6'753'071 0.51 (410'928) 31.12.2010 Mutual Fund ManagerVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 5'499'498 0.42 168'429 31.12.2010 Mutual Fund ManagerPRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 5'290'185 0.4 7'476 31.12.2010 Investment AdvisorMELLON GLOBAL MANAGE Multiple Portfolios MF-AGG 3'900'000 0.3 - 31.12.2010 Mutual Fund ManagerBLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 3'825'394 0.29 (28'630) 29.10.2010 Investment AdvisorWILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 2'895'567 0.22 (5'180'918) 30.09.2010 Investment AdvisorFIRST STATE INVESTME Multiple Portfolios MF-AGG 2'753'252 0.21 108'649 30.09.2010 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley STUART BAKER Overwt/Attractive 5 M 8 12 month 03.02.2011Sanford C. Bernstein & Co NEIL BEVERIDGE outperform 5 M 9 12 month 28.01.2011Paterson Securities EDWIN BULSECO buy 5 M 7 12 month 27.01.2011Macquarie ADRIAN WOOD outperform 5 M 9 12 month 26.01.2011Deutsche Bank JOHN HIRJEE buy 5 M 8 12 month 25.01.2011Credit Suisse SANDRA MCCULLAGH underperform 1 M 7 Not Provided 25.01.2011UBS GORDON RAMSAY buy 5 M 9 12 month 25.01.2011JPMorgan BENJAMIN X. WILSON neutral 3 M 7 12 month 25.01.2011Citi MARK GREENWOOD hold 3 M 8 Not Provided 25.01.2011Goldman Sachs & Partners Australia AIDEN BRADLEY hold 3 M 6 Not Provided 25.01.2011Commonwealth Bank ANDREW HINES hold 3 M 7 12 month 25.01.2011Austock Securities STEFAN HANSEN buy 5 M 8 Not Provided 25.01.2011CLSA Asia Pacific Markets DI M BROOKMAN underperform 1 M 8 Not Provided 20.01.2011Nomura XAVIER MIELES GRUNAUER neutral 3 D 8 Not Provided 18.01.2011RBS JASON MABEE hold 3 M 7 12 month 26.10.2010BNP Paribas Securities (Asia) BRADLEY WAY buy 5 M 8 12 month 20.09.2010Southern Cross PETER CHAPMAN buy 5 M 7 12 month 20.08.2010
OneSteel Limited manufactures steel long products and distributes metals in
Australia. The Company produces structural, rail, rod, bar, wire, pipe and tubeproducts along with distributing sheet and coil, piping systems, plate andaluminum products. The Company's products are utilized by the construction,mining, rail and other manufacturing industries.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (21.09.2010) 3.1052-Week Low (15.09.2011) 1.26Daily Volume
EBITDA 603.40 Long-Term Rating Date -EBIT 388.30 Long-Term Rating -Operating Margin 6.26% Long-Term Outlook -Pretax Margin 5.38% Short-Term Rating Date -Return on Assets 3.69% Short-Term Rating -Return on Common Equity 5.93%Return on Capital 5.91% EBITDA/Interest Exp. 6.82Asset Turnover 0.89% (EBITDA-Capex)/Interest Exp. 5.17
Net Debt/EBITDA 1.60Gross Margin 19.9% Total Debt/EBITDA 1.74EBITDA Margin 9.7%EBIT Margin 0.0% Total Debt/Equity 23.6%Net Income Margin 3.2% Total Debt/Capital 18.9%
Asset Turnover 0.89Current Ratio 1.59 Net Fixed Asset Turnover 2.66Quick Ratio 0.56 Accounts receivable turnover-days 45.19Debt to Assets 14.82% Inventory Days 98.14Tot Debt to Common Equity 23.62% Accounts Payable Turnover Day 43.74Accounts Receivable Turnover 8.08 Cash Conversion Cycle 99.59Inventory Turnover 3.72
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
OneSteel LtdPrice/Volume
Valuation Analysis
6'324'592.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan BENJAMIN X. WILSON neutral 3 M 3 6 month 07.02.2011Deutsche Bank EMILY BEHNCKE hold 3 M 3 12 month 03.02.2011Goldman Sachs & Partners Australia ANDREW GIBSON buy 5 M 3 Not Provided 03.02.2011RBS TODD SCOTT buy 5 M 3 12 month 01.02.2011UBS ANDREW MOLLER buy 5 M 3 12 month 01.02.2011Credit Suisse MICHAEL SLIFIRSKI outperform 5 M 3 Not Provided 31.01.2011Macquarie DOUGLAS MACPHILLAMY outperform 5 M 3 12 month 18.01.2011Morgan Stanley CAMERON JUDD Overwt/In-Line 5 M 4 12 month 17.01.2011CLSA Asia Pacific Markets SCOTT HUDSON underperform 1 M 3 Not Provided 17.01.2011MF Global Equities Research ANDREW GARDNER buy 5 M #N/A N/A Not Provided 13.01.2011Daiwa Securities Capital Markets Co. DAVID BRENNAN buy 5 M 3 Not Provided 13.12.2010Commonwealth Bank ATHLENE PIECH buy 5 M 3 12 month 15.11.2010E.L. & C. Baillieu SAM HADDAD hold 3 M 4 12 month 15.11.2010Wise-owl.com TIM MORRIS neutral 3 M #N/A N/A Not Provided 11.12.2008
Orica Limited is a diversified manufacturing company. The Company produces
industrial and specialty chemicals, polyethylene, surface coatings for vehicles,food and beverage flavoring and fragrances, packaging and appliances. TheCompany also supplies explosive and blasting services to the mining, quarryingand construction industries.
Latest Fiscal Year: 09/2010LTM as of: 01/yy52-Week High (27.04.2011) 28.1052-Week Low (09.08.2011) 22.25Daily Volume
EBITDA 371.00 Long-Term Rating Date 18.12.2000EBIT 131.50 Long-Term Rating BBB+Operating Margin 2.26% Long-Term Outlook STABLEPretax Margin 14.01% Short-Term Rating Date 23.09.1997Return on Assets 18.16% Short-Term Rating A-2Return on Common Equity 40.68%Return on Capital 28.38% EBITDA/Interest Exp. 1.88Asset Turnover 0.81% (EBITDA-Capex)/Interest Exp. -0.79
Net Debt/EBITDA 2.83Gross Margin - Total Debt/EBITDA 3.77EBITDA Margin 6.4%EBIT Margin 2.3% Total Debt/Equity 46.1%Net Income Margin 22.7% Total Debt/Capital 27.8%
Asset Turnover 0.81Current Ratio 1.15 Net Fixed Asset Turnover 2.70Quick Ratio 0.68 Accounts receivable turnover-days 53.68Debt to Assets 20.01% Inventory Days -Tot Debt to Common Equity 46.13% Accounts Payable Turnover Day -Accounts Receivable Turnover 6.80 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Orica LtdPrice/Volume
Valuation Analysis
1'215'593.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse ROHAN GALLAGHER neutral 3 M 28 Not Provided 03.02.2011UBS SIMON MITCHELL neutral 3 M 28 12 month 03.02.2011Macquarie JOHN PURTELL outperform 5 M 28 12 month 03.02.2011Commonwealth Bank MICHAEL WARD buy 5 M 28 12 month 03.02.2011Paterson Securities GEORGE GALANOPOULOS buy 5 M 29 12 month 03.02.2011Goldman Sachs & Partners Australia MATTHEW MCNEE buy 5 M 29 Not Provided 28.01.2011Deutsche Bank MARK WILSON buy 5 M 30 12 month 17.01.2011Austock Securities PAUL JENSZ hold 3 M 28 Not Provided 26.11.2010JPMorgan KEITH CHAU neutral 3 M 28 9 month 09.11.2010E.L. & C. Baillieu SAM HADDAD accumulate 4 M 28 12 month 09.11.2010Citi HUGH DIVE hold 3 M 26 Not Provided 08.11.2010CLSA Asia Pacific Markets SCOTT HUDSON buy 5 M 29 Not Provided 08.11.2010
Origin Energy Limited is involved in the exploration and production of oil and
gas and the retailing of natural gas, liquefied petroleum gas (LPG) andelectricity. The Company also participates in natural gas-fired cogenerationand power generation along with infrastructure investment and managementservices.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (11.04.2011) 17.2252-Week Low (09.08.2011) 12.00Daily Volume
EBITDA 1'242.00 Long-Term Rating Date 31.03.2011EBIT 703.00 Long-Term Rating BBB+Operating Margin 6.80% Long-Term Outlook STABLEPretax Margin 3.82% Short-Term Rating Date 31.03.2011Return on Assets 0.77% Short-Term Rating A-2Return on Common Equity 1.65%Return on Capital 2.09% EBITDA/Interest Exp. 7.91Asset Turnover 0.43% (EBITDA-Capex)/Interest Exp. -1.81
Net Debt/EBITDA 3.25Gross Margin - Total Debt/EBITDA 3.86EBITDA Margin 12.0%EBIT Margin 6.8% Total Debt/Equity 39.1%Net Income Margin 1.8% Total Debt/Capital 26.2%
Asset Turnover 0.43Current Ratio 0.76 Net Fixed Asset Turnover 1.06Quick Ratio 0.32 Accounts receivable turnover-days 38.13Debt to Assets 17.97% Inventory Days -Tot Debt to Common Equity 39.14% Accounts Payable Turnover Day -Accounts Receivable Turnover 9.57 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Origin Energy LtdPrice/Volume
Valuation Analysis
3'482'082.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 8'980'893 1.01 - 03.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 7'878'718 0.89 (477'104) 31.12.2010 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 5'249'000 0.59 395'000 30.06.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 4'499'417 0.51 162'833 31.12.2010 Mutual Fund ManagerPRUDENTIAL ASSET MGM Multiple Portfolios MF-AGG 3'275'243 0.37 51'046 15.04.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 2'776'933 0.31 15'708 31.12.2010 Mutual Fund ManagerFIDELITY INTERNATION Multiple Portfolios MF-AGG 2'701'250 0.31 8'500 30.06.2010 Investment AdvisorCOHEN & STEERS CAPIT Multiple Portfolios MF-AGG 2'306'485 0.26 (161'600) 30.09.2010 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 1'617'224 0.18 108'464 31.12.2010 Investment AdvisorBEEREN BRUCE GERARD n/a EXCH 1'235'020 0.14 - 06.10.2010 n/aKING GRANT ALFRED n/a EXCH 1'110'411 0.13 - 29.11.2010 n/aSJUNDE AP FONDEN Multiple Portfolios MF-AGG 683'127 0.08 (388'469) 30.09.2010 Investment AdvisorAXA ROSENBERG INTL Multiple Portfolios MF-AGG 640'500 0.07 640'500 30.09.2010 Investment AdvisorJP MORGAN CHASE & CO Multiple Portfolios MF-AGG 636'637 0.07 - 30.11.2010 Investment AdvisorCREDIT SUISSE ASSET Multiple Portfolios MF-AGG 534'842 0.06 4'064 27.01.2011 Mutual Fund ManagerSTOCK ANDREW M n/a Co File 448'068 0.05 - 30.06.2010 n/aLEGAL & GENERAL GROU Multiple Portfolios MF-AGG 442'209 0.05 (117) 30.04.2010 Investment AdvisorWILLINK ROBERT JAN n/a Co File 415'470 0.05 - 30.06.2010 n/aFIRST STATE INVESTME Multiple Portfolios MF-AGG 378'440 0.04 64'545 31.08.2010 Investment AdvisorFABCO INVESTMENTS PT n/a EXCH 374'430 0.04 - 12.06.2009 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs & Partners Australia AIDEN BRADLEY buy 5 M 20 Not Provided 07.02.2011Credit Suisse SANDRA MCCULLAGH restricted #N/A N/A M #N/A N/A Not Provided 04.02.2011JPMorgan JASON HARLEY STEED overweight 5 M 19 12 month 04.02.2011Morgan Stanley STUART BAKER Underwt/Attractive 1 M 16 12 month 03.02.2011Citi MARIE MIYASHIRO buy 5 M 19 Not Provided 03.02.2011Deutsche Bank JOHN HIRJEE hold 3 M 17 12 month 31.01.2011Nomura XAVIER MIELES GRUNAUER buy 5 M 21 Not Provided 18.01.2011Daiwa Securities Capital Markets Co. DAVID BRENNAN outperform 5 M 18 Not Provided 29.12.2010E.L. & C. Baillieu IVOR RIES buy 5 M 20 12 month 20.12.2010Shaw Stockbroking SIMON OATEN buy 5 U #N/A N/A Not Provided 17.12.2010UBS DAVID LEITCH buy 5 M 19 12 month 16.12.2010RBS JASON MABEE hold 3 D 18 12 month 15.12.2010Macquarie ADRIAN WOOD restricted #N/A N/A M #N/A N/A Not Provided 09.12.2010Commonwealth Bank PAUL JOHNSTON buy 5 M 17 12 month 24.08.2010Southern Cross SANJAY MAGOTRA reduce 2 M 14 12 month 04.05.2010
EBITDA 686.10 Long-Term Rating Date -EBIT 533.50 Long-Term Rating -Operating Margin 47.28% Long-Term Outlook -Pretax Margin 58.63% Short-Term Rating Date -Return on Assets 18.98% Short-Term Rating -Return on Common Equity 20.05%Return on Capital - EBITDA/Interest Exp. 86.85Asset Turnover 0.36% (EBITDA-Capex)/Interest Exp. 78.58
Net Debt/EBITDA -1.94Gross Margin - Total Debt/EBITDA 0.00EBITDA Margin 60.8%EBIT Margin 47.3% Total Debt/Equity 0.0%Net Income Margin 52.0% Total Debt/Capital 0.0%
Asset Turnover 0.36Current Ratio 24.75 Net Fixed Asset Turnover 0.91Quick Ratio 22.21 Accounts receivable turnover-days 49.18Debt to Assets 0.00% Inventory Days -Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -Accounts Receivable Turnover 7.42 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
OZ Minerals LtdPrice/Volume
Valuation Analysis
1'008'887.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
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Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets GEOFF BREEN sector perform 3 M 2 12 month 07.02.2011Macquarie MARTIN STULPNER outperform 5 M 2 12 month 07.02.2011Credit Suisse MICHAEL SLIFIRSKI underperform 1 M 2 Not Provided 04.02.2011Goldman Sachs & Partners Australia IAN PRESTON buy 5 M 2 Not Provided 02.02.2011Wilson HTM Investment Group KEITH WILLIAMS hold 3 U 2 Not Provided 27.01.2011Morgan Stanley CRAIG CAMPBELL Overwt/Attractive 5 M 2 12 month 24.01.2011HSBC DANIEL KANG neutral 3 M 2 Not Provided 24.01.2011Argonaut Securities Pty Ltd TIM SERJEANT hold 3 D 2 Not Provided 24.01.2011Austock Securities ANASTASIA KASSIANOS buy 5 M 2 Not Provided 21.01.2011BMO Capital Markets DAVID RADCLYFFE underperform 1 M 2 Not Provided 20.01.2011RBS LYNDON FAGAN hold 3 M 2 12 month 20.01.2011Deutsche Bank LEVI SPRY hold 3 M 2 12 month 20.01.2011JPMorgan FRASER JAMIESON underweight 1 M 1 12 month 20.01.2011CLSA Asia Pacific Markets HAYDEN BAIRSTOW sell 1 M 1 Not Provided 20.01.2011E.L. & C. Baillieu RAY CHANTRY hold 3 M 2 12 month 20.01.2011Commonwealth Bank ANDREW KNUCKEY hold 3 M 2 12 month 12.01.2011UBS JONATHAN BATTERSHILL sell 1 M 2 12 month 14.12.2010Paterson Securities ALEX PASSMORE hold 3 M 1 12 month 06.12.2010Citi CRAIG SAINSBURY sell 1 D 2 Not Provided 15.11.2010Investec HUNTER HILLCOAT sell 1 D 1 12 month 20.10.2010Southern Cross FLEUR GROSE accumulate 4 M 1 12 month 25.08.2010Evans & Partners Pty Ltd CATHY MOISES Positive 4 M #N/A N/A Not Provided 23.08.2010
EBITDA -2.90 Long-Term Rating Date -EBIT -40.00 Long-Term Rating -Operating Margin -14.99% Long-Term Outlook -Pretax Margin -39.39% Short-Term Rating Date -Return on Assets -3.76% Short-Term Rating -Return on Common Equity -7.59%Return on Capital - EBITDA/Interest Exp. -0.08Asset Turnover 0.12% (EBITDA-Capex)/Interest Exp. -3.63
Net Debt/EBITDA -Gross Margin 16.7% Total Debt/EBITDA -248.17EBITDA Margin -1.1%EBIT Margin -15.0% Total Debt/Equity 56.6%Net Income Margin -30.8% Total Debt/Capital 34.7%
Asset Turnover 0.12Current Ratio 2.77 Net Fixed Asset Turnover 0.38Quick Ratio 0.99 Accounts receivable turnover-days 9.71Debt to Assets 29.94% Inventory Days 235.72Tot Debt to Common Equity 56.60% Accounts Payable Turnover Day 83.59Accounts Receivable Turnover 37.58 Cash Conversion Cycle 161.85Inventory Turnover 1.55
Fiscal Year Ended
Paladin Energy LtdPrice/Volume
Valuation Analysis
5'773'950.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
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Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cormark Securities Inc. MIKE KOZAK buy 5 M 7 12 month 03.02.2011Raymond James BART JAWORSKI outperform 5 M 7 12 month 02.02.2011Goldman Sachs & Partners Australia NEIL GOODWILL sell 1 M 4 Not Provided 02.02.2011Macquarie MARTIN STULPNER outperform 5 M 6 Not Provided 28.01.2011BMO Capital Markets EDWARD STERCK market perform 3 M 5 Not Provided 24.01.2011Deutsche Bank PAUL-D YOUNG sell 1 M 4 12 month 24.01.2011RBC Capital Markets ADAM SCHATZKER outperform 5 M 7 12 month 24.01.2011Argonaut Securities Pty Ltd TROY IRVIN buy 5 U 6 Not Provided 24.01.2011CIBC World Markets IAN PARKINSON sector outperform 5 M 7 Not Provided 23.01.2011RBS LYNDON FAGAN sell 1 M 5 12 month 21.01.2011Credit Suisse RALPH M PROFITI outperform 5 M 7 Not Provided 21.01.2011Dundee Securities Corp DAVID A TALBOT buy 5 M 6 12 month 21.01.2011Canaccord Genuity Corp OREST WOWKODAW buy 5 M 8 12 month 21.01.2011GMP DAVID WARGO hold 3 M 5 12 month 21.01.2011Paterson Securities SIMON TONKIN hold 3 M 5 12 month 21.01.2011CLSA Asia Pacific Markets MICHAEL EVANS sell 1 M 4 Not Provided 21.01.2011Salman Partners PATRICK DONNELLY Under Review #N/A N/A M #N/A N/A Not Provided 19.01.2011JPMorgan MARK BUSUTTIL neutral 3 M 5 12 month 13.01.2011Southern Cross PETER CHAPMAN buy 5 M 6 12 month 13.01.2011UBS GLYN LAWCOCK neutral 3 M 5 12 month 14.12.2010Paradigm Capital Inc DAVID DAVIDSON hold 3 D 5 12 month 16.11.2010MF Global Equities Research ANDREW GARDNER buy 5 N #N/A N/A Not Provided 09.11.2010E.L. & C. Baillieu RAY CHANTRY hold 3 N 4 12 month 21.10.2010Haywood Securities Inc. GEORDIE MARK sector outperform 5 M 5 Not Provided 20.10.2010Citi CLARKE WILKINS buy 5 M 4 Not Provided 05.07.2010
EBITDA 140.18 Long-Term Rating Date -EBIT - Long-Term Rating -Operating Margin 23.50% Long-Term Outlook -Pretax Margin 18.48% Short-Term Rating Date -Return on Assets 3.49% Short-Term Rating -Return on Common Equity 17.10%Return on Capital 10.68% EBITDA/Interest Exp. -Asset Turnover 0.29% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -0.17Gross Margin - Total Debt/EBITDA 1.40EBITDA Margin 27.1%EBIT Margin - Total Debt/Equity 53.7%Net Income Margin 12.0% Total Debt/Capital 34.3%
Asset Turnover 0.29Current Ratio - Net Fixed Asset Turnover 19.15Quick Ratio - Accounts receivable turnover-days -Debt to Assets 12.17% Inventory Days -Tot Debt to Common Equity 53.68% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Perpetual LtdPrice/Volume
Valuation Analysis
98'976.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeQUEENSLAND TRUSTEES n/a Co File 2'814'201 6.38 - 31.07.2010 n/aAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 837'000 1.9 106'000 30.06.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 215'642 0.49 15'490 31.12.2010 Mutual Fund ManagerDEVERALL DAVID M n/a EXCH 130'331 0.3 - 17.01.2011 n/aMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 89'963 0.2 14'544 31.12.2010 Mutual Fund ManagerBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 80'894 0.18 62 04.02.2011 Investment AdvisorAMCIL LTD Multiple Portfolios MF-AGG 65'000 0.15 65'000 30.06.2010 Investment AdvisorBURROWS ROGER B n/a EXCH 58'928 0.13 19'480 26.11.2010 n/aVANGUARD GROUP INC Multiple Portfolios MF-AGG 55'849 0.13 1'872 31.12.2010 Investment AdvisorHOLYMAN IVAN n/a EXCH 44'513 0.1 - 21.01.2011 n/aSCHRODER INVESTMENT Multiple Portfolios MF-AGG 40'617 0.09 40'617 30.06.2010 Investment AdvisorSTATE STREET CORP Multiple Portfolios MF-AGG 33'438 0.08 - 04.02.2011 Investment AdvisorSCOTTISH WIDOWS PLC Multiple Portfolios MF-AGG 26'912 0.06 - 31.12.2010 Investment AdvisorGOLDMAN SACHS GROUP Multiple Portfolios MF-AGG 25'345 0.06 2'220 30.09.2010 Investment AdvisorLEGAL & GENERAL GROU Multiple Portfolios MF-AGG 22'360 0.05 638 30.04.2010 Investment AdvisorHYPERION ASSET MANAG Multiple Portfolios MF-AGG 21'650 0.05 - 30.06.2010 UnclassifiedPRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 18'649 0.04 - 30.11.2010 Investment AdvisorGONZALEZ EMILIO n/a Co File 18'647 0.04 - 30.06.2010 n/aMACINTYRE R n/a Co File 16'893 0.04 - 30.06.2010 n/aSMARTSHARES LIMITED Multiple Portfolios MF-AGG 15'180 0.03 450 31.03.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBS RICHARD COLES hold 3 M 35 12 month 02.02.2011Goldman Sachs & Partners Australia RYAN FISHER hold 3 M 35 Not Provided 02.02.2011Wilson HTM Investment Group ANDREW HILLS hold 3 M 35 Not Provided 31.01.2011Credit Suisse JOHN HEAGERTY underperform 1 M 33 Not Provided 25.01.2011Macquarie MICHAEL WIBLIN underperform 1 M 31 12 month 24.01.2011Deutsche Bank KIEREN CHIDGEY hold 3 M 33 12 month 10.01.2011JPMorgan RUSSELL GILL neutral 3 M 32 12 month 05.01.2011UBS CHRIS WILLIAMS neutral 3 M 32 12 month 20.12.2010Citi NIGEL PITTAWAY hold 3 M 33 Not Provided 20.12.2010Southern Cross LAFITANI SOTIRIOU reduce 2 M 30 12 month 20.12.2010
Primary Health Care Limited provides services to the healthcare industry in
Australia. Services are provided to general practitioners, specialists andother health care providers who conduct their own practices and businesses atits medical centers, licensed day surgeries, eye clinics, and specialistclinics. The Company also provides pathology services and healthcare software.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (10.01.2011) 4.1652-Week Low (09.08.2011) 2.56Daily Volume
EBITDA 305.43 Long-Term Rating Date -EBIT 223.23 Long-Term Rating -Operating Margin 17.05% Long-Term Outlook -Pretax Margin 8.71% Short-Term Rating Date -Return on Assets 2.08% Short-Term Rating -Return on Common Equity 3.15%Return on Capital 3.98% EBITDA/Interest Exp. 3.48Asset Turnover 0.35% (EBITDA-Capex)/Interest Exp. 2.35
Net Debt/EBITDA 3.52Gross Margin - Total Debt/EBITDA 3.66EBITDA Margin 23.3%EBIT Margin 17.1% Total Debt/Equity 44.7%Net Income Margin 6.0% Total Debt/Capital 30.9%
Asset Turnover 0.35Current Ratio 1.27 Net Fixed Asset Turnover 3.42Quick Ratio 0.75 Accounts receivable turnover-days 24.89Debt to Assets 29.21% Inventory Days -Tot Debt to Common Equity 44.71% Accounts Payable Turnover Day -Accounts Receivable Turnover 14.66 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Primary Health Care LtdPrice/Volume
Valuation Analysis
1'234'921.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeHARRIS ASSOCIATES L HARRIS ASSOC LP 13F 55'658'620 11.22 5'725'600 31.12.2010 Investment AdvisorMAPLE-BROWN ABBOTT L n/a EXCH 51'522'859 10.39 5'656'592 13.01.2011 Investment AdvisorSCHRODER INVESTMENT n/a EXCH 44'552'818 8.98 - 15.11.2010 Investment AdvisorCALEDONIA INVESTMENT n/a Co File 38'278'642 7.72 - 31.07.2010 Investment AdvisorBNP PARIBAS INVESTME n/a EXCH 36'023'993 7.26 6'315'143 17.11.2010 Investment AdvisorBATEMAN EDMUND GREGO n/a EXCH 35'061'405 7.07 216'341 05.01.2011 n/aPERPETUAL LTD n/a EXCH 30'288'554 6.11 (4'968'516) 03.12.2010 Investment AdvisorCREDIT SUISSE AG n/a EXCH 26'759'441 5.39 - 27.09.2010 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 25'252'987 5.09 (8'953'938) 27.09.2010 BankDIMENSIONAL FUND ADV n/a EXCH 24'944'978 5.03 - 13.01.2011 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 24'263'774 4.89 (1'440'986) 31.08.2010 BankAMP LTD n/a EXCH 18'854'917 3.8 - 24.02.2009 Insurance CompanyMACKENZIE FINANCIAL Multiple Portfolios MF-AGG 5'294'897 1.07 1'207'500 31.10.2010 Investment AdvisorCHRISTIE MICHAEL JOS n/a EXCH 3'592'488 0.72 - 26.11.2010 n/aNATIXIS INTERNATIONA Multiple Portfolios MF-AGG 2'951'000 0.59 - 30.11.2010 Investment AdvisorBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 2'676'625 0.54 578 04.02.2011 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'290'969 0.46 5'467 31.12.2010 Mutual Fund ManagerROBECO INVESTOR SERV Multiple Portfolios MF-AGG 1'961'781 0.4 - 30.11.2010 Investment AdvisorBANCO FONDER AB Multiple Portfolios MF-AGG 1'414'494 0.29 - 31.03.2010 Investment AdvisorIVY MANAGEMENT INCOR Multiple Portfolios MF-AGG 1'138'697 0.23 1'138'697 31.12.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Wilson HTM Investment Group SHANE STOREY sell 1 M 3 Not Provided 28.01.2011RBS DEREK JELLINEK hold 3 M 4 12 month 25.01.2011Deutsche Bank DAVID A LOW hold 3 M 4 12 month 25.01.2011JPMorgan STEVEN D WHEEN neutral 3 M 4 12 month 24.01.2011UBS ANDREW GOODSALL neutral 3 M 4 12 month 21.01.2011Goldman Sachs & Partners Australia IAN ABBOTT sell 1 M 4 Not Provided 19.01.2011Commonwealth Bank NATALIE KELLY sell 1 D 4 12 month 19.01.2011Morgan Stanley SEAN LAAMAN Underwt/Cautious 1 M 3 12 month 14.01.2011Nomura DAVID STANTON neutral 3 M 3 Not Provided 23.12.2010Macquarie CRAIG COLLIE neutral 3 M 3 12 month 30.11.2010Credit Suisse SAUL HADASSIN underperform 1 M 3 Not Provided 15.11.2010LINWAR Securities JOHN HESTER market perform 3 M 4 12 month 15.11.2010Citi ALEXANDER SMITH hold 3 M 3 Not Provided 12.11.2010BBY Limited DENNIS HULME buy 5 M 4 12 month 12.11.2010Evans & Partners Pty Ltd PAUL RYAN neutral 3 M #N/A N/A Not Provided 23.08.2010Austock Securities CRAIG STRANGER buy 5 M 4 Not Provided 18.08.2010Southern Cross STUART ROBERTS reduce 2 D 3 12 month 17.08.2010
Qantas Airways Limited is an international airline with a network of domestic
and intercontinental routes mainly in the Asia-Pacific region. In addition,Qantas operates a catering service and provides travel and holiday tourismservices throughout Australia. Qantas provides electronic reservation systems,ground handling, engineering and maintenance services.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (04.11.2010) 2.9752-Week Low (22.08.2011) 1.42Daily Volume
Shares Out 30.06.2011 2'265.1 Short Int 32.053'499.62 1 Yr Total Return -42.35%
Total Debt 6'031.00 YTD Return -39.17%Preferred Stock 0.0 Adjusted BETA 1.161Minority Interest 4.0 Analyst Recs 14Cash and Equivalents 3'496.00 Consensus Rating 4.714Enterprise Value 6'038.62
Average Volume 5 Day 12'058'700QAN AT EQUITY YTD Change - Average Volume 30 Day 15'475'330QAN AT EQUITY YTD % CHANGE - Average Volume 3 Month 13'528'490
EBITDA 1'989.00 Long-Term Rating Date 14.04.2009EBIT 740.00 Long-Term Rating BBBOperating Margin 5.31% Long-Term Outlook STABLEPretax Margin 2.32% Short-Term Rating Date 14.04.2009Return on Assets 1.23% Short-Term Rating A-3Return on Common Equity 4.14%Return on Capital 3.77% EBITDA/Interest Exp. 5.67Asset Turnover 0.68% (EBITDA-Capex)/Interest Exp. -1.19
Net Debt/EBITDA 1.27Gross Margin - Total Debt/EBITDA 3.03EBITDA Margin 14.3%EBIT Margin 5.3% Total Debt/Equity 98.1%Net Income Margin 1.8% Total Debt/Capital 49.5%
Asset Turnover 0.68Current Ratio 0.90 Net Fixed Asset Turnover 1.06Quick Ratio 0.70 Accounts receivable turnover-days 21.69Debt to Assets 28.91% Inventory Days -Tot Debt to Common Equity 98.11% Accounts Payable Turnover Day -Accounts Receivable Turnover 16.83 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Qantas Airways LtdPrice/Volume
Valuation Analysis
3'976'932.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCAPITAL GROUP COMPAN n/a EXCH 215'829'079 9.53 28'867'365 16.08.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a Co File 180'558'629 7.97 - 20.08.2010 BankCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 155'247'563 6.85 (3'586'738) 30.09.2010 Investment AdvisorBALANCED EQUITY MANA n/a EXCH 137'001'304 6.05 23'334'258 25.01.2011 Investment AdvisorUBS AG n/a EXCH 115'568'652 5.1 (24'941'077) 12.10.2010 Investment AdvisorWESTPAC BANKING CORP n/a Co File 115'135'358 5.08 - 20.08.2010 BankBLACKROCK INVESTMENT n/a EXCH 112'682'553 4.97 (4'237'617) 13.05.2010 Investment AdvisorNATIONAL AUSTRALIA B n/a EXCH 109'804'673 4.85 (13'270'940) 11.01.2011 BankVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 11'594'368 0.51 241'157 31.12.2010 Mutual Fund ManagerBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 11'298'754 0.5 - 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 9'041'228 0.4 60'233 31.12.2010 Investment AdvisorINVESCO LTD Multiple Portfolios MF-AGG 8'526'880 0.38 6'203 07.02.2011 Investment AdvisorPUTNAM INVESTMENT MA Multiple Portfolios MF-AGG 8'263'072 0.36 8'240'430 30.09.2010 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 7'886'920 0.35 (533'606) 30.06.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 7'800'263 0.34 368'553 31.12.2010 Mutual Fund ManagerCHINA INTERNATIONAL Multiple Portfolios MF-AGG 7'100'000 0.31 7'100'000 30.06.2010 Investment AdvisorSARASIN INVESTMENT F Multiple Portfolios MF-AGG 6'554'200 0.29 (12'000) 31.12.2010 Mutual Fund ManagerSARASIN INVESTMENT M Multiple Portfolios MF-AGG 6'191'800 0.27 847'600 31.12.2010 Investment AdvisorUNION INVESTMENT LUX Multiple Portfolios MF-AGG 6'000'000 0.26 (800'000) 30.09.2010 Mutual Fund ManagerMASSACHUSETTS FINANC Multiple Portfolios MF-AGG 5'539'133 0.24 130 30.11.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley JULIA WENG Overwt/In-Line 5 M 3 12 month 03.02.2011JPMorgan SCOTT CARROLL overweight 5 M 3 12 month 03.02.2011Deutsche Bank CAMERON MCDONALD buy 5 M 3 12 month 02.02.2011Commonwealth Bank MATT CROWE buy 5 M 3 12 month 28.01.2011RBS MARK WILLIAMS buy 5 M 3 12 month 21.01.2011Macquarie RUSSELL SHAW neutral 3 M 3 12 month 19.01.2011Goldman Sachs & Partners Australia ANDREW GIBSON buy 5 M 3 Not Provided 13.01.2011CLSA Asia Pacific Markets ROBERT BRUCE buy 5 M 3 Not Provided 22.12.2010Credit Suisse ANTHONY MOULDER outperform 5 M 4 Not Provided 02.12.2010Citi SHAVARSH BEDROSSIAN buy 5 M 4 Not Provided 13.10.2010UBS SIMON MITCHELL buy 5 M 3 12 month 05.10.2010HSBC MARK CARMERON ROSS WEBB overweight 5 U 3 Not Provided 09.08.2010
QBE Insurance Group Limited is an insurance company which underwrites most forms
of commercial and industrial insurance policies, as well as individual policies.QBE also manages Lloyds syndicates and provides investment management services.The Company provides its services both domestically and internationally.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (28.04.2011) 19.6052-Week Low (19.08.2011) 12.25Daily Volume
EBITDA - Long-Term Rating Date -EBIT - Long-Term Rating AOperating Margin 15.25% Long-Term Outlook STABLEPretax Margin 12.89% Short-Term Rating Date -Return on Assets 3.24% Short-Term Rating -Return on Common Equity 13.12%Return on Capital 11.58% EBITDA/Interest Exp. -Asset Turnover 0.30% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 31.5%Net Income Margin 10.6% Total Debt/Capital 23.8%
Asset Turnover 0.30Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 7.69% Inventory Days -Tot Debt to Common Equity 31.45% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
QBE Insurance Group LtdPrice/Volume
Valuation Analysis
5'526'446.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCREDIT SUISSE AG n/a EXCH 114'439'958 10.88 11'818'247 24.08.2010 Investment AdvisorABERDEEN ASSET MANAG n/a EXCH 107'071'524 10.18 10'449'967 07.09.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 53'674'351 5.1 - 08.12.2010 BankBLACKROCK INVESTMENT n/a Co File 52'569'915 5 - 31.01.2010 Investment AdvisorABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 36'384'299 3.46 (74'730) 31.12.2010 Investment AdvisorFIRST STATE INVESTME Multiple Portfolios MF-AGG 13'827'905 1.31 2'604'202 31.08.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 10'016'980 0.95 - 03.02.2011 Investment AdvisorBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 8'777'718 0.83 (17'665) 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 8'327'032 0.79 (4'462'936) 31.12.2010 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 6'434'661 0.61 792'877 31.12.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 5'358'586 0.51 261'434 31.12.2010 Mutual Fund ManagerAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 4'621'000 0.44 585'000 30.06.2010 Investment AdvisorFIRST STATE INVESTME Multiple Portfolios MF-AGG 4'560'715 0.43 - 30.09.2010 Mutual Fund ManagerCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 3'781'831 0.36 (8'959'100) 30.09.2010 Investment AdvisorSCHRODER INVESTMENT Multiple Portfolios MF-AGG 3'691'880 0.35 1'018'035 30.09.2010 Investment AdvisorINVESCO LTD Multiple Portfolios MF-AGG 3'500'158 0.33 9'153 07.02.2011 Investment AdvisorJP MORGAN CHASE & CO Multiple Portfolios MF-AGG 2'791'020 0.27 82'990 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 2'655'527 0.25 674'266 31.12.2010 Mutual Fund ManagerMATTHEWS INTERNATION Multiple Portfolios MF-AGG 2'240'000 0.21 2'240'000 30.09.2010 Investment AdvisorNATIONWIDE FUND ADVI Multiple Portfolios MF-AGG 2'236'135 0.21 15'482 31.12.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse JOHN HEAGERTY underperform 1 M 19 Not Provided 07.02.2011JPMorgan SIDDHARTH PARAMESWARAN neutral 3 M 21 12 month 07.02.2011CLSA Asia Pacific Markets DANIEL TOOHEY underperform 1 M 19 Not Provided 07.02.2011Macquarie TONY JACKSON outperform 5 M 22 12 month 05.02.2011Goldman Sachs & Partners Australia RYAN FISHER hold 3 M 20 Not Provided 05.02.2011RBS RICHARD COLES buy 5 M 19 12 month 04.02.2011Deutsche Bank KIEREN CHIDGEY hold 3 M 19 12 month 04.02.2011UBS JAMES COGHILL neutral 3 M 19 12 month 04.02.2011Citi NIGEL PITTAWAY hold 3 M 20 Not Provided 04.02.2011BBY Limited BRETT LE MESURIER underperform 1 N 16 12 month 04.02.2011Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT outperform 5 U 21 Not Provided 27.07.2010Shaw Stockbroking TIM BUCKLEY buy 5 U #N/A N/A Not Provided 10.03.2010
EBITDA 499.61 Long-Term Rating Date -EBIT 366.55 Long-Term Rating -Operating Margin 10.04% Long-Term Outlook -Pretax Margin 8.05% Short-Term Rating Date -Return on Assets 5.12% Short-Term Rating -Return on Common Equity 17.86%Return on Capital 9.89% EBITDA/Interest Exp. 6.18Asset Turnover 1.02% (EBITDA-Capex)/Interest Exp. 3.52
Net Debt/EBITDA 2.03Gross Margin - Total Debt/EBITDA 2.48EBITDA Margin 13.7%EBIT Margin 10.0% Total Debt/Equity 116.9%Net Income Margin 5.4% Total Debt/Capital 48.8%
Asset Turnover 1.02Current Ratio 1.08 Net Fixed Asset Turnover 2.07Quick Ratio 0.89 Accounts receivable turnover-days 44.49Debt to Assets 34.95% Inventory Days -Tot Debt to Common Equity 116.95% Accounts Payable Turnover Day -Accounts Receivable Turnover 8.20 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Ramsay Health Care LtdPrice/Volume
Valuation Analysis
338'641.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeRAMSAY PAUL JOSEPH n/a EXCH 73'149'269 36.2 - 22.09.2010 n/aFIDELITY MANAGEMENT n/a EXCH 10'086'538 4.99 (236'392) 09.12.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'259'905 0.62 - 04.02.2011 Investment AdvisorABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 949'305 0.47 (85'386) 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 870'928 0.43 57'946 31.12.2010 Mutual Fund ManagerRAMSAY HEALTH CARE L n/a Co File 749'729 0.37 - 30.06.2010 n/aAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 686'000 0.34 - 30.06.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 639'078 0.32 1'881 31.12.2010 Mutual Fund ManagerPRINCIPAL FINANCIAL Multiple Portfolios MF-AGG 533'353 0.26 (82'988) 30.12.2010 Investment AdvisorCIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 393'458 0.19 (172'800) 31.08.2010 Investment AdvisorREX CHRISTOPHER PA n/a EXCH 337'015 0.17 21'906 20.09.2010 n/aFIDELITY INTERNATION Multiple Portfolios MF-AGG 335'694 0.17 193'707 30.06.2010 Investment AdvisorTHRIVENT FINANCIAL F Multiple Portfolios MF-AGG 319'801 0.16 1'562 30.12.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 280'794 0.14 52'137 31.12.2010 Investment AdvisorSCHAFER CULLEN CAPIT SCHAFER CULLEN CAPIT 13F 211'057 0.1 (48'050) 30.09.2010 Investment AdvisorSIDDLE MICHAEL STANL n/a Co File 152'564 0.08 - 14.09.2010 n/aGRIER IAN PATRICK ST n/a Co File 133'116 0.07 - 14.09.2010 n/aSODEN BRUCE ROGER n/a EXCH 100'791 0.05 - 23.09.2010 n/aAMERIPRISE FINANCIAL Multiple Portfolios MF-AGG 93'470 0.05 (47'485) 30.11.2010 Investment AdvisorCREDIT SUISSE ASSET Multiple Portfolios MF-AGG 84'142 0.04 929 27.01.2011 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Wilson HTM Investment Group SHANE STOREY hold 3 M 16 Not Provided 28.01.2011RBS DEREK JELLINEK hold 3 M 17 12 month 25.01.2011Deutsche Bank DAVID A LOW hold 3 M 17 12 month 25.01.2011JPMorgan STEVEN D WHEEN overweight 5 M 19 12 month 24.01.2011Morgan Stanley JAMES RUTLEDGE Equalwt/Cautious 3 M 16 12 month 21.01.2011Citi ALEXANDER SMITH hold 3 M 18 Not Provided 19.01.2011Commonwealth Bank NATALIE KELLY hold 3 D 19 12 month 19.01.2011Goldman Sachs & Partners Australia IAN ABBOTT buy 5 M 19 Not Provided 13.01.2011UBS ANDREW GOODSALL neutral 3 M 18 12 month 06.01.2011Nomura DAVID STANTON neutral 3 M 17 Not Provided 04.01.2011Credit Suisse SAUL HADASSIN neutral 3 M 20 Not Provided 21.12.2010Macquarie CRAIG COLLIE outperform 5 M 19 12 month 21.12.2010LINWAR Securities JOHN HESTER market perform 3 M 17 12 month 21.12.2010Evans & Partners Pty Ltd PAUL RYAN neutral 3 D #N/A N/A Not Provided 20.12.2010E.L. & C. Baillieu GAVIN DUFFY buy 5 N 16 12 month 31.08.2010Southern Cross STUART ROBERTS buy 5 M 17 12 month 26.08.2010Austock Securities CRAIG STRANGER hold 3 M 14 Not Provided 26.08.2010Moelis & Company ADAM S MICHELL hold 3 M 10 12 month 14.05.2009
ResMed Inc. develops, manufactures, and markets medical equipment for the
treatment of sleep disordered breathing. The Company sells diagnostic andtreatment devices in various countries through its subsidiaries and independentdistributors.
Latest Fiscal Year: 06/2011LTM as of: 12/yy52-Week High (20.12.2010) 3.6052-Week Low (09.08.2011) 2.49Daily Volume
EBITDA 337.54 Long-Term Rating Date 20.06.2006EBIT 266.92 Long-Term Rating NROperating Margin 21.47% Long-Term Outlook -Pretax Margin 24.43% Short-Term Rating Date -Return on Assets 12.29% Short-Term Rating -Return on Common Equity 15.04%Return on Capital 14.01% EBITDA/Interest Exp. -Asset Turnover 0.67% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -1.88Gross Margin 59.6% Total Debt/EBITDA 0.30EBITDA Margin 27.2%EBIT Margin 21.5% Total Debt/Equity 5.8%Net Income Margin 18.3% Total Debt/Capital 5.5%
Asset Turnover 0.67Current Ratio 6.19 Net Fixed Asset Turnover 2.93Quick Ratio 4.83 Accounts receivable turnover-days 73.59Debt to Assets 4.84% Inventory Days 140.53Tot Debt to Common Equity 5.79% Accounts Payable Turnover Day 39.80Accounts Receivable Turnover 4.96 Cash Conversion Cycle 174.32Inventory Turnover 2.60
Fiscal Year Ended
ResMed IncPrice/Volume
Valuation Analysis
2'625'011.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
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Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse SAUL HADASSIN neutral 3 M 4 Not Provided 03.02.2011LINWAR Securities JOHN HESTER outperform 5 M 4 12 month 31.01.2011JPMorgan STEVEN D WHEEN overweight 5 M 3 12 month 28.01.2011Citi ALEXANDER SMITH buy 5 M 4 Not Provided 28.01.2011Macquarie CRAIG COLLIE outperform 5 M 4 12 month 28.01.2011Wilson HTM Investment Group SHANE STOREY buy 5 M 4 Not Provided 28.01.2011Goldman Sachs & Partners Australia IAN ABBOTT hold 3 M 4 Not Provided 28.01.2011Commonwealth Bank NATALIE KELLY buy 5 M 4 12 month 28.01.2011Nomura DAVID STANTON buy 5 M 4 Not Provided 28.01.2011RBS DEREK JELLINEK hold 3 M 3 12 month 25.01.2011Southern Cross STUART ROBERTS accumulate 4 D 8 12 month 13.08.2010Moelis & Company ADAM S MICHELL hold 3 N 4 Not Provided 01.06.2010
Rio Tinto Limited is an international mining company. The Company has interests
in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin,uranium, zinc, titanium dioxide feedstock, diamonds, talc and zircon. RioTinto's various mining operations are located in Australia, New Zealand, SouthAfrica, the United States, South America, Europe and Indonesia.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (15.02.2011) 89.0452-Week Low (09.08.2011) 63.85Daily Volume
EBITDA 22'752.00 Long-Term Rating Date 18.04.2011EBIT 19'315.00 Long-Term Rating A-Operating Margin 34.14% Long-Term Outlook STABLEPretax Margin 36.37% Short-Term Rating Date 08.07.2009Return on Assets 13.67% Short-Term Rating A-2Return on Common Equity 28.04%Return on Capital 21.52% EBITDA/Interest Exp. 18.14Asset Turnover 0.54% (EBITDA-Capex)/Interest Exp. 14.48
Net Debt/EBITDA 0.18Gross Margin - Total Debt/EBITDA 0.63EBITDA Margin 40.2%EBIT Margin 34.1% Total Debt/Equity 24.6%Net Income Margin 25.3% Total Debt/Capital 18.0%
Asset Turnover 0.54Current Ratio 1.96 Net Fixed Asset Turnover 1.11Quick Ratio 1.21 Accounts receivable turnover-days 23.49Debt to Assets 12.76% Inventory Days -Tot Debt to Common Equity 24.58% Accounts Payable Turnover Day -Accounts Receivable Turnover 15.54 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Rio Tinto LtdPrice/Volume
Valuation Analysis
2'261'291.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie LEE BOWERS outperform 5 M 108 12 month 08.02.2011Deutsche Bank PAUL-D YOUNG buy 5 M 107 12 month 07.02.2011Daiwa Securities Capital Markets Co. DAVID BRENNAN buy 5 M 100 Not Provided 07.02.2011Morgan Stanley CRAIG CAMPBELL Overwt/Attractive 5 M 114 12 month 03.02.2011Goldman Sachs & Partners Australia NEIL GOODWILL buy 5 M 118 Not Provided 02.02.2011Commonwealth Bank ANDREW HINES buy 5 M 108 12 month 01.02.2011CLSA Asia Pacific Markets HAYDEN BAIRSTOW underperform 1 D 87 Not Provided 31.01.2011HSBC ANDREW KEEN overweight 5 M 111 Not Provided 25.01.2011RBS LYNDON FAGAN buy 5 M 107 12 month 18.01.2011Credit Suisse PAUL MCTAGGART outperform 5 M 110 Not Provided 18.01.2011UBS GLYN LAWCOCK buy 5 M 108 12 month 18.01.2011JPMorgan MARK BUSUTTIL overweight 5 M 110 12 month 18.01.2011MF Global Equities Research ANDREW GARDNER buy 5 M #N/A N/A Not Provided 18.01.2011E.L. & C. Baillieu RAY CHANTRY hold 3 D 92 12 month 18.01.2011Citi CLARKE WILKINS buy 5 M 100 Not Provided 08.12.2010Investec TIM GERRARD buy 5 M 99 12 month 20.10.2010
EBITDA -0.05 Long-Term Rating Date -EBIT -11.16 Long-Term Rating -Operating Margin -11.44% Long-Term Outlook -Pretax Margin 2.97% Short-Term Rating Date -Return on Assets -0.14% Short-Term Rating -Return on Common Equity -0.16%Return on Capital 0.26% EBITDA/Interest Exp. -Asset Turnover 0.17% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin 16.2% Total Debt/EBITDA -2.06EBITDA Margin 0.0%EBIT Margin -11.4% Total Debt/Equity 0.0%Net Income Margin -0.8% Total Debt/Capital 0.0%
Asset Turnover 0.17Current Ratio 10.71 Net Fixed Asset Turnover 0.81Quick Ratio 9.43 Accounts receivable turnover-days 23.55Debt to Assets 0.02% Inventory Days 83.36Tot Debt to Common Equity 0.02% Accounts Payable Turnover Day 69.75Accounts Receivable Turnover 15.50 Cash Conversion Cycle 37.17Inventory Turnover 4.38
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Riversdale Mining LtdPrice/Volume
Valuation Analysis
0.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeTATA STEEL LTD n/a EXCH 57'145'792 24.14 14'826'779 31.08.2010 CorporationRIO TINTO LTD n/a EXCH 35'412'111 14.96 - 11.01.2011 CorporationCIA SIDERURGICA NACI n/a Co File 31'233'327 13.2 - 17.08.2010 CorporationPASSPORT CAPITAL LLC n/a EXCH 20'102'342 8.49 (3'595'672) 13.01.2011 Hedge Fund ManagerNORGES BANK n/a EXCH 9'475'616 4 - 13.01.2011 GovernmentO'KEEFFE WILLIAM MIC n/a Co File 3'326'499 1.41 - 23.08.2010 n/aOPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 2'500'000 1.06 (1'000'000) 31.08.2010 Investment AdvisorTALBOT KENNETH n/a EXCH 2'482'729 1.05 (28'750'598) 24.11.2009 n/aLENAHAN NIALL F n/a Co File 1'400'000 0.59 - 23.08.2010 n/aBLACKWELL PARTNERS L n/a EXCH 1'073'818 0.45 - 13.01.2011 n/aLOVE ANDREW JOHN n/a EXCH 880'714 0.37 200'000 24.12.2010 n/aVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 783'624 0.33 2'112 31.12.2010 Mutual Fund ManagerVAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 767'958 0.32 5'368 04.02.2011 Investment AdvisorRELIANCE CAPITAL ASS Multiple Portfolios MF-AGG 600'000 0.25 (75'000) 31.12.2010 Investment AdvisorUCA FUNDS MANAGEMENT Multiple Portfolios MF-AGG 274'549 0.12 - 31.12.2010 Mutual Fund ManagerBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 210'221 0.09 - 04.02.2011 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 178'539 0.08 6'715 31.12.2010 Mutual Fund ManagerSTATE STREET CORP Multiple Portfolios MF-AGG 173'449 0.07 - 04.02.2011 Investment AdvisorSIA FUNDS AG Multiple Portfolios MF-AGG 156'373 0.07 - 30.11.2010 Mutual Fund ManagerVANGUARD GROUP INC Multiple Portfolios MF-AGG 145'434 0.06 - 31.12.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley CAMERON JUDD Equalwt/Attractive 3 M 17 12 month 03.02.2011Goldman Sachs & Partners Australia NEIL GOODWILL hold 3 M 17 Not Provided 02.02.2011Citi CRAIG SAINSBURY hold 3 M 14 Not Provided 01.02.2011Macquarie SOPHIE SPARTALIS restricted #N/A N/A M #N/A N/A Not Provided 25.01.2011RBS SAM BERRIDGE hold 3 D 18 12 month 24.01.2011RBC Capital Markets CHRIS DREW outperform 5 M 18 12 month 24.01.2011JPMorgan ALISTAIR REID neutral 3 M 16 12 month 24.01.2011Commonwealth Bank TOMAS VASQUEZ buy 5 M 18 12 month 24.01.2011CLSA Asia Pacific Markets HAYDEN BAIRSTOW outperform 5 M 18 Not Provided 24.01.2011Hartleys ANDREW MUIR buy 5 M 19 12 month 13.01.2011Credit Suisse PAUL MCTAGGART neutral 3 M 19 Not Provided 11.01.2011Paterson Securities ANDREW HARRINGTON buy 5 M 17 12 month 23.12.2010UBS GLYN LAWCOCK suspended coverage #N/A N/A M #N/A N/A Not Provided 26.11.2010MF Global Equities Research ANDREW GARDNER buy 5 U #N/A N/A Not Provided 09.11.2010E.L. & C. Baillieu RAY CHANTRY hold 3 M 13 Not Provided 23.06.2010
Santos Limited explores for and produces natural gas, crude oil, condensate,
naphtha and liquid petroleum gas. The Company conducts major onshore andoffshore petroleum exploration activities at oil and gas fields in Australia(Cooper/Eromanga Basins), the United States (Gulf of Mexico), Indonesia andPapua New Guinea. The Company also transports crude oil by pipeline.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (11.04.2011) 16.9052-Week Low (09.08.2011) 10.11Daily Volume
EBITDA 918.00 Long-Term Rating Date 12.01.2011EBIT 318.00 Long-Term Rating BBB+Operating Margin 14.27% Long-Term Outlook NEGPretax Margin 35.59% Short-Term Rating Date 12.01.2011Return on Assets 3.98% Short-Term Rating A-2Return on Common Equity 6.86%Return on Capital 5.71% EBITDA/Interest Exp. 9.27Asset Turnover 0.18% (EBITDA-Capex)/Interest Exp. -6.32
Net Debt/EBITDA -1.27Gross Margin 34.4% Total Debt/EBITDA 3.44EBITDA Margin 41.2%EBIT Margin 14.3% Total Debt/Equity 41.5%Net Income Margin 22.4% Total Debt/Capital 29.3%
Asset Turnover 0.18Current Ratio 3.26 Net Fixed Asset Turnover 0.33Quick Ratio 2.86 Accounts receivable turnover-days 51.52Debt to Assets 22.93% Inventory Days 66.66Tot Debt to Common Equity 41.51% Accounts Payable Turnover Day 110.63Accounts Receivable Turnover 7.08 Cash Conversion Cycle 7.55Inventory Turnover 5.48
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Santos LtdPrice/Volume
Valuation Analysis
2'263'800.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK INVESTMENT n/a Co File 42'060'067 4.8 - 26.02.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 8'477'342 0.97 - 03.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 8'149'583 0.93 (142'517) 31.12.2010 Investment AdvisorBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 8'074'088 0.92 648'504 04.02.2011 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 6'853'000 0.78 50'000 30.06.2010 Investment AdvisorNEW JERSEY DIVISION Multiple Portfolios MF-AGG 6'000'000 0.69 - 30.09.2010 Pension Fund (ERISA)MORGAN STANLEY & CO Multiple Portfolios MF-AGG 5'103'833 0.58 (207'549) 30.09.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 4'800'128 0.55 1'291'098 31.12.2010 Mutual Fund ManagerVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 4'217'295 0.48 143'977 31.12.2010 Mutual Fund ManagerDAIWA SB INVESTMENTS Multiple Portfolios MF-AGG 3'761'400 0.43 3'761'400 08.07.2010 Investment AdvisorMELLON GLOBAL MANAGE Multiple Portfolios MF-AGG 2'951'102 0.34 252'315 31.12.2010 Mutual Fund ManagerSCHRODER INVESTMENT Multiple Portfolios MF-AGG 1'024'160 0.12 (44'311) 30.06.2010 Investment AdvisorSJUNDE AP FONDEN Multiple Portfolios MF-AGG 867'474 0.1 (4'498) 30.09.2010 Investment AdvisorPRUDENTIAL PLC Multiple Portfolios MF-AGG 798'824 0.09 - 30.09.2010 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 763'223 0.09 36'464 31.12.2010 Investment AdvisorDEKA INTERNATIONAL S Multiple Portfolios MF-AGG 743'726 0.08 174'419 31.03.2010 Mutual Fund ManagerSEI INVESTMENT MANAG Multiple Portfolios MF-AGG 663'881 0.08 (157'746) 31.10.2010 Investment AdvisorINTEGRA CAPITAL MANA Multiple Portfolios MF-AGG 639'594 0.07 11'363 31.12.2010 Investment AdvisorDIAM CO LTD Multiple Portfolios MF-AGG 582'162 0.07 (16'878) 09.08.2010 Mutual Fund ManagerBANCO FONDER AB Multiple Portfolios MF-AGG 565'901 0.06 - 31.03.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie ADRIAN WOOD outperform 5 M 18 12 month 08.02.2011RBS JASON MABEE buy 5 M 16 12 month 03.02.2011JPMorgan BENJAMIN X. WILSON overweight 5 M 17 12 month 03.02.2011Citi MARK GREENWOOD buy 5 M 16 Not Provided 03.02.2011Sanford C. Bernstein & Co NEIL BEVERIDGE outperform 5 M 15 12 month 28.01.2011Credit Suisse SANDRA MCCULLAGH outperform 5 M 17 Not Provided 21.01.2011Goldman Sachs & Partners Australia AIDEN BRADLEY buy 5 M 16 Not Provided 21.01.2011Morgan Stanley STUART BAKER Overwt/Attractive 5 M 16 12 month 20.01.2011UBS GORDON RAMSAY buy 5 M 16 12 month 20.01.2011Commonwealth Bank ANDREW HINES hold 3 M 15 12 month 20.01.2011Nomura XAVIER MIELES GRUNAUER buy 5 M 16 Not Provided 18.01.2011Shaw Stockbroking SIMON OATEN buy 5 U #N/A N/A Not Provided 14.01.2011CLSA Asia Pacific Markets DI M BROOKMAN buy 5 M 20 Not Provided 13.01.2011Daiwa Securities Capital Markets Co. DAVID BRENNAN outperform 5 D 14 Not Provided 22.12.2010Intersuisse Ltd NICK WIRUBOV buy 5 N 16 Not Provided 27.10.2010Deutsche Bank JOHN HIRJEE restricted #N/A N/A M #N/A N/A Not Provided 09.09.2010
Seek Limited operates an Internet website. The Company offers online employment
advertisements and online training in Australia and New Zealand, and offersonline employment advertisements in the United Kingdom targeted at Australianand New Zealand job seekers.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (07.10.2010) 7.8052-Week Low (14.09.2011) 4.92Daily Volume
EBITDA 136.27 Long-Term Rating Date -EBIT 123.67 Long-Term Rating -Operating Margin 36.05% Long-Term Outlook -Pretax Margin 38.77% Short-Term Rating Date -Return on Assets 13.17% Short-Term Rating -Return on Common Equity 29.42%Return on Capital 16.39% EBITDA/Interest Exp. 9.34Asset Turnover 0.46% (EBITDA-Capex)/Interest Exp. 8.77
Net Debt/EBITDA 2.38Gross Margin 91.2% Total Debt/EBITDA 3.11EBITDA Margin 39.7%EBIT Margin 36.0% Total Debt/Equity 136.0%Net Income Margin 28.5% Total Debt/Capital 49.4%
Asset Turnover 0.46Current Ratio 0.68 Net Fixed Asset Turnover 20.49Quick Ratio 0.54 Accounts receivable turnover-days 29.04Debt to Assets 43.61% Inventory Days -Tot Debt to Common Equity 135.97% Accounts Payable Turnover Day 395.15Accounts Receivable Turnover 12.57 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Seek LtdPrice/Volume
Valuation Analysis
1'064'642.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
LINWAR Securities GEORGE KOPSIAFTIS market perform 3 M 7 12 month 08.02.2011Goldman Sachs & Partners Australia CHRISTIAN GUERRA buy 5 M 10 Not Provided 07.02.2011E.L. & C. Baillieu IVOR RIES buy 5 M 10 12 month 02.02.2011Credit Suisse JOLANTA MASOJADA outperform 5 M 10 Not Provided 01.02.2011Commonwealth Bank ALICE BENNETT hold 3 M 7 12 month 27.01.2011Deutsche Bank ANDREW ANAGNOSTELLIS buy 5 M 8 12 month 24.01.2011Morgan Stanley ANDREW MCLEOD Overwt/Cautious 5 M 8 12 month 19.01.2011BBY Limited MARK MCDONNELL hold 3 U 6 12 month 13.01.2011Shaw Stockbroking SCOTT MARSHALL accumulate 4 U #N/A N/A Not Provided 11.01.2011Macquarie ALEX POLLAK restricted #N/A N/A M #N/A N/A Not Provided 24.12.2010Austock Securities ROHAN SUNDRAM hold 3 M 7 Not Provided 24.12.2010JPMorgan LAURENT HORRUT neutral 3 M 7 12 month 23.12.2010CLSA Asia Pacific Markets SACHA KRIEN outperform 5 M 7 Not Provided 16.11.2010RBS FRASER MCLEISH hold 3 M 7 12 month 12.11.2010UBS RICHARD EARY neutral 3 M 7 12 month 12.11.2010Citi JUSTIN DIDDAMS hold 3 M 7 Not Provided 12.11.2010Evans & Partners Pty Ltd PAUL RYAN Positive 4 U #N/A N/A Not Provided 26.08.2010Veritas Securities WASSIM KISIRWANI hold 3 N 4 Not Provided 28.05.2009Moelis & Company TODD W GUYOT hold 3 M 3 12 month 26.02.2009
Sims Metal Management Ltd. collects, sorts and processes scrap metal materials
which are recycled for resale. The Company's divisions include ferrousrecycling, non-ferrous recycling, secondary processing of non-ferrous metals andplastics, international trading of metal commodities and the merchandising ofsteel semi-fabricated products.
Latest Fiscal Year: 06/2011LTM as of: 09/yy52-Week High (17.12.2010) 22.3652-Week Low (19.09.2011) 13.35Daily Volume
EBITDA 357.50 Long-Term Rating Date -EBIT 226.90 Long-Term Rating -Operating Margin 2.56% Long-Term Outlook -Pretax Margin 3.13% Short-Term Rating Date -Return on Assets 4.56% Short-Term Rating -Return on Common Equity 6.20%Return on Capital 6.38% EBITDA/Interest Exp. 13.19Asset Turnover 2.10% (EBITDA-Capex)/Interest Exp. 7.92
Net Debt/EBITDA 0.34Gross Margin - Total Debt/EBITDA 0.82EBITDA Margin 4.0%EBIT Margin 2.6% Total Debt/Equity 10.0%Net Income Margin 2.2% Total Debt/Capital 9.1%
Asset Turnover 2.10Current Ratio 2.15 Net Fixed Asset Turnover 9.88Quick Ratio 0.83 Accounts receivable turnover-days 20.60Debt to Assets 6.98% Inventory Days -Tot Debt to Common Equity 9.99% Accounts Payable Turnover Day -Accounts Receivable Turnover 17.72 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Sims Metal Management LtdPrice/Volume
Valuation Analysis
573'774.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeMITSUI RAW MAT DEV P n/a EXCH 36'151'787 17.64 1'501'884 25.11.2009 n/aM&G INVESTMENT MANAG #N/A N/A EXCH 12'153'877 5.93 (2'166'969) 04.02.2011 Investment AdvisorROYCE AND ASSOCIATES n/a 13G 12'009'143 5.86 - 31.12.2010 Investment AdvisorPRUDENTIAL PLC Multiple Portfolios MF-AGG 11'849'949 5.78 (1'708'000) 30.09.2010 Investment AdvisorIOOF HOLDINGS LTD n/a EXCH 10'267'704 5.01 - 23.07.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 8'806'744 4.3 (2'808'722) 31.12.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1'545'283 0.75 - 31.12.2010 Investment AdvisorUCA FUNDS MANAGEMENT Multiple Portfolios MF-AGG 891'987 0.44 - 31.12.2010 Mutual Fund ManagerVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 820'268 0.4 1'980 31.12.2010 Mutual Fund ManagerF&C FUND MANAGEMENT Multiple Portfolios MF-AGG 620'768 0.3 - 31.12.2010 Mutual Fund ManagerDIENST DANIEL W n/a EXCH 603'293 0.29 - 22.11.2010 n/aSJUNDE AP FONDEN Multiple Portfolios MF-AGG 552'374 0.27 (7'303) 30.09.2010 Investment AdvisorLEGG MASON ASSET MAN n/a EXCH 518'022 0.25 - 27.11.2009 Mutual Fund ManagerUBS STRATEGY FUND MG Multiple Portfolios MF-AGG 444'408 0.22 419'049 29.10.2010 Investment AdvisorT ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 405'998 0.2 (844) 31.12.2010 Investment AdvisorRCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 363'264 0.18 (32'496) 31.12.2010 Investment AdvisorNOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 236'300 0.12 370 22.06.2010 Investment AdvisorPUTNAM INVESTMENT MA Multiple Portfolios MF-AGG 216'116 0.11 - 30.09.2010 Investment AdvisorTRANSAMERICA INVESTM Multiple Portfolios MF-AGG 214'954 0.1 63'381 30.09.2010 Investment AdvisorF&C MANAGEMENT LTD Multiple Portfolios MF-AGG 174'623 0.09 - 30.11.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse MICHAEL SLIFIRSKI outperform 5 M 22 Not Provided 08.02.2011JPMorgan BENJAMIN X. WILSON neutral 3 M 22 6 month 07.02.2011Canaccord Genuity Corp ERIC A PROUTY buy 5 M 24 12 month 07.02.2011Goldman Sachs & Partners Australia ANDREW GIBSON buy 5 M 25 Not Provided 03.02.2011RBS TODD SCOTT sell 1 D 17 12 month 31.01.2011UBS GLYN LAWCOCK suspended coverage #N/A N/A M #N/A N/A Not Provided 31.01.2011CLSA Asia Pacific Markets SCOTT HUDSON sell 1 D 19 Not Provided 21.01.2011Deutsche Bank EMILY BEHNCKE hold 3 M 20 12 month 20.01.2011D.A. Davidson & Co BRENT THIELMAN buy 5 M 26 Not Provided 10.01.2011E.L. & C. Baillieu SAM HADDAD buy 5 M 25 12 month 17.11.2010Commonwealth Bank ATHLENE PIECH hold 3 M 17 12 month 09.11.2010BBY Limited JOHN WELSH hold 3 M 18 12 month 27.10.2010Macquarie DOUGLAS MACPHILLAMY neutral 3 M 18 12 month 26.09.2010Macquarie SOPHIE SPARTALIS neutral 3 M 26 12 month 23.11.2009
Sonic Healthcare Limited is a medical diagnostics company with operations in
Australia, New Zealand, and Europe. The Company provides a comprehensive rangeof pathology and diagnostic imaging services to medical practitioners, hospitalsand their patients along with providing administrative services and facilitiesto medical practitioners.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (30.06.2011) 13.1452-Week Low (16.03.2011) 10.33Daily Volume
EBITDA 545.21 Long-Term Rating Date -EBIT 447.98 Long-Term Rating -Operating Margin 14.53% Long-Term Outlook -Pretax Margin 12.66% Short-Term Rating Date -Return on Assets 6.15% Short-Term Rating -Return on Common Equity 11.62%Return on Capital 8.11% EBITDA/Interest Exp. 7.67Asset Turnover 0.64% (EBITDA-Capex)/Interest Exp. 5.76
Net Debt/EBITDA 2.82Gross Margin - Total Debt/EBITDA 3.14EBITDA Margin 17.7%EBIT Margin 14.5% Total Debt/Equity 68.0%Net Income Margin 9.6% Total Debt/Capital 40.5%
Asset Turnover 0.64Current Ratio 1.66 Net Fixed Asset Turnover 5.70Quick Ratio 1.44 Accounts receivable turnover-days 42.34Debt to Assets 36.29% Inventory Days -Tot Debt to Common Equity 68.02% Accounts Payable Turnover Day -Accounts Receivable Turnover 8.62 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Sonic Healthcare LtdPrice/Volume
Valuation Analysis
931'327.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 30'428'412 7.83 932'000 30.09.2010 Investment AdvisorMANNING & NAPIER Multiple Portfolios MF-AGG 19'674'310 5.07 (296'000) 30.12.2010 Investment AdvisorWESTPAC BANKING CORP n/a EXCH 19'294'487 4.97 (148'845) 03.08.2010 BankOPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 6'584'552 1.7 1'083'900 31.10.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 4'179'241 1.08 16'806 31.12.2010 Investment AdvisorPATTERSON BARRY SYDN n/a EXCH 3'816'646 0.98 - 27.10.2010 n/aBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 3'645'217 0.94 - 03.02.2011 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'013'747 0.52 102'880 31.12.2010 Mutual Fund ManagerCONNOR R E n/a Co File 1'597'088 0.41 - 30.06.2010 n/aCAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 1'552'967 0.4 - 30.09.2010 Investment AdvisorUCA FUNDS MANAGEMENT Multiple Portfolios MF-AGG 1'357'745 0.35 - 31.12.2010 Mutual Fund ManagerSCHRODER INVESTMENT Multiple Portfolios MF-AGG 961'951 0.25 148'182 30.09.2010 Investment AdvisorBABSON CAPITAL MANAG Multiple Portfolios MF-AGG 887'467 0.23 (150'100) 31.05.2010 Investment AdvisorWILKS CHRISTOPHER DA n/a EXCH 795'122 0.2 340'000 20.08.2010 n/aGOLDSCHMIDT COLIN ST n/a Co File 730'243 0.19 - 30.09.2010 n/aABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 720'586 0.19 (38'400) 31.12.2010 Investment AdvisorCONNECTICUT GENERAL CONNECTICUT GENERAL Sch-D 674'971 0.17 662'071 30.06.2010 Insurance CompanyIG INVESTMENT MANAGE Multiple Portfolios MF-AGG 576'477 0.15 2'405 30.09.2010 Investment AdvisorCAPITAL INTERNATIONA Multiple Portfolios MF-AGG 495'000 0.13 - 30.09.2010 Investment AdvisorJACKSON COLIN J n/a Co File 491'371 0.13 - 30.09.2010 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank DAVID A LOW buy 5 M 12 12 month 07.02.2011Credit Suisse SAUL HADASSIN underperform 1 M 12 Not Provided 07.02.2011JPMorgan STEVEN D WHEEN overweight 5 M 14 12 month 07.02.2011Wilson HTM Investment Group SHANE STOREY buy 5 M 13 Not Provided 07.02.2011Nomura DAVID STANTON neutral 3 M 12 Not Provided 07.02.2011E.L. & C. Baillieu GAVIN DUFFY buy 5 M 13 12 month 01.02.2011Macquarie CRAIG COLLIE neutral 3 M 12 12 month 31.01.2011Morgan Stanley SEAN LAAMAN Equalwt/Cautious 3 M 11 12 month 21.01.2011Citi ALEXANDER SMITH hold 3 M 13 Not Provided 19.01.2011LINWAR Securities JOHN HESTER market perform 3 M 12 12 month 18.01.2011RBS DEREK JELLINEK buy 5 M 13 12 month 17.01.2011UBS ANDREW GOODSALL neutral 3 M 12 12 month 17.01.2011Goldman Sachs & Partners Australia IAN ABBOTT hold 3 M 13 Not Provided 17.01.2011Commonwealth Bank NATALIE KELLY hold 3 M 12 12 month 17.01.2011Shaw Stockbroking MATTHIJS SMITH hold 3 M #N/A N/A Not Provided 24.11.2010Austock Securities CRAIG STRANGER hold 3 M 12 Not Provided 25.08.2010Southern Cross STUART ROBERTS buy 5 M 14 12 month 24.08.2010Evans & Partners Pty Ltd PAUL RYAN neutral 3 M #N/A N/A Not Provided 23.08.2010
EBITDA - Long-Term Rating Date -EBIT - Long-Term Rating -Operating Margin 60.86% Long-Term Outlook -Pretax Margin 89.83% Short-Term Rating Date -Return on Assets 3.36% Short-Term Rating -Return on Common Equity 8.20%Return on Capital 3.39% EBITDA/Interest Exp. -Asset Turnover 0.04% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 75.0%Net Income Margin 92.8% Total Debt/Capital 42.9%
Asset Turnover 0.04Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 42.36% Inventory Days -Tot Debt to Common Equity 75.04% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Spark Infrastructure GroupPrice/Volume
Valuation Analysis
3'991'955.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse SANDRA MCCULLAGH outperform 5 M 1 Not Provided 04.02.2011JPMorgan JASON HARLEY STEED underweight 1 M 1 12 month 04.02.2011Morgan Stanley MARK BLACKWELL Underwt/In-Line 1 D 1 12 month 31.01.2011Commonwealth Bank PAUL JOHNSTON hold 3 N 1 12 month 04.01.2011Austock Securities ANDREW CHAMBERS hold 3 M 1 Not Provided 24.12.2010Evans & Partners Pty Ltd TONY WILSON neutral 3 M #N/A N/A Not Provided 03.11.2010Citi MARIE MIYASHIRO hold 3 M 1 Not Provided 01.11.2010Macquarie IAN MYLES outperform 5 M 1 12 month 25.09.2010Goldman Sachs & Partners Australia AIDEN BRADLEY hold 3 M 1 Not Provided 24.09.2010UBS DAVID LEITCH buy 5 M 1 12 month 23.09.2010RBS JASON MABEE buy 5 M 1 12 month 22.09.2010
Stockland is a property trust which invests and manages in retail and commercial
properties in Australia. The Group also provides property development andmanagement services, hotel management services and other relatedservicesincluding financing.
Latest Fiscal Year: 06/2011LTM as of: 03/yy52-Week High (21.09.2010) 4.0152-Week Low (11.08.2011) 2.52Daily Volume
Shares Out 30.06.2011 2'383.0 Short Int 15.576'815.49 1 Yr Total Return -22.04%
Total Debt 2'407.40 YTD Return -17.82%Preferred Stock 0.0 Adjusted BETA 0.840Minority Interest 0.0 Analyst Recs 12Cash and Equivalents 194.60 Consensus Rating 4.167Enterprise Value 9'028.29
Average Volume 5 Day 11'906'370SGP AT EQUITY YTD Change - Average Volume 30 Day 16'535'790SGP AT EQUITY YTD % CHANGE - Average Volume 3 Month 13'693'730
EBITDA 616.30 Long-Term Rating Date 07.06.2005EBIT 560.30 Long-Term Rating A-Operating Margin 23.71% Long-Term Outlook STABLEPretax Margin 33.92% Short-Term Rating Date -Return on Assets 5.29% Short-Term Rating -Return on Common Equity 8.64%Return on Capital 6.65% EBITDA/Interest Exp. 3.11Asset Turnover 0.17% (EBITDA-Capex)/Interest Exp. -0.37
Net Debt/EBITDA 3.59Gross Margin - Total Debt/EBITDA 3.91EBITDA Margin 26.1%EBIT Margin - Total Debt/Equity 27.4%Net Income Margin 31.9% Total Debt/Capital 21.5%
Asset Turnover 0.17Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 16.52% Inventory Days -Tot Debt to Common Equity 27.36% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
StocklandPrice/Volume
Valuation Analysis
5'192'902.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCOMMONWEALTH BANK OF n/a EXCH 156'972'956 6.59 36'305'576 24.11.2009 BankING GROEP NV n/a EXCH 146'983'278 6.17 24'996'475 31.01.2011 Investment AdvisorVANGUARD GROUP INC n/a EXCH 145'917'504 6.12 72'738'381 13.01.2010 Investment AdvisorBLACKROCK INVESTMENT n/a EXCH 131'344'992 5.51 - 31.12.2009 Investment AdvisorWESTPAC BANKING CORP n/a EXCH 120'902'323 5.07 - 26.11.2010 BankCOHEN & STEERS CAPIT n/a EXCH 120'564'679 5.06 - 07.01.2011 Investment AdvisorAMP LTD n/a EXCH 120'249'510 5.05 - 08.12.2009 Insurance CompanyBARCLAYS PLC n/a EXCH 115'606'469 4.85 (3'780'185) 22.10.2009 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 94'925'350 3.98 346'086 31.12.2010 Mutual Fund ManagerMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 39'890'418 1.67 (2'176'452) 31.12.2010 Mutual Fund ManagerBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 26'232'913 1.1 - 04.02.2011 Investment AdvisorMORGAN STANLEY & CO Multiple Portfolios MF-AGG 26'043'298 1.09 (110'654) 30.09.2010 Investment AdvisorCOLONIAL FIRST STATE Multiple Portfolios MF-AGG 18'634'116 0.78 - 09.08.2010 Investment AdvisorEUROPEAN INVESTORS I EUROPEAN INVESTORS I 13F 17'882'773 0.75 92'000 30.09.2010 Investment AdvisorING CLARION REAL EST Multiple Portfolios MF-AGG 15'025'118 0.63 (1'123'591) 20.07.2010 Investment AdvisorNIKKO ASSET MANAGEME Multiple Portfolios MF-AGG 14'136'701 0.59 2'069'288 16.08.2010 Mutual Fund ManagerING INVESTMENT MANAG Multiple Portfolios MF-AGG 13'731'910 0.58 396'218 30.09.2010 Investment AdvisorABN AMRO ASSET MGMT Multiple Portfolios MF-AGG 11'971'836 0.5 (2'359'504) 20.07.2010 Investment AdvisorNOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 10'978'928 0.46 (2'543'154) 22.06.2010 Investment AdvisorFRANK RUSSELL TRUST Multiple Portfolios MF-AGG 9'011'458 0.38 7'700'205 30.11.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank IAN RANDALL buy 5 M 4 12 month 08.02.2011Morgan Stanley LOURENS PIRENC Equalwt/In-Line 3 U 4 12 month 02.02.2011Macquarie PAUL CHECCHIN underperform 1 M 4 12 month 02.02.2011Paterson Securities JONATHAN KRISKA hold 3 M 4 12 month 01.02.2011JPMorgan RICHARD JONES neutral 3 M 4 12 month 28.01.2011Credit Suisse STEPHEN RICH neutral 3 M 4 Not Provided 24.01.2011UBS JOHN FREEDMAN neutral 3 D 4 12 month 24.01.2011Goldman Sachs & Partners Australia PETER ZUK buy 5 M 4 Not Provided 14.01.2011Commonwealth Bank DAVID LLOYD buy 5 M 5 12 month 10.01.2011Citi DAVID BURGESS buy 5 M 4 Not Provided 01.12.2010CLSA Asia Pacific Markets JOHN P KIM sell 1 M 3 Not Provided 23.11.2010
Suncorp Group Ltd. offers retail and business banking, life and general
insurance, superannuation and funds management services. The Company'sservices include personal banking and loans, personal insurance products,credit cards, pension savings accounts, term deposits, property developmentfinance, commercial lending, investments and lease financing.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (05.11.2010) 9.7652-Week Low (09.08.2011) 6.03Daily Volume
EBITDA - Long-Term Rating Date -EBIT - Long-Term Rating -Operating Margin 5.23% Long-Term Outlook -Pretax Margin 4.53% Short-Term Rating Date -Return on Assets 0.47% Short-Term Rating -Return on Common Equity 3.24%Return on Capital 1.05% EBITDA/Interest Exp. -Asset Turnover 0.20% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 192.1%Net Income Margin 2.9% Total Debt/Capital 65.7%
Asset Turnover 0.20Current Ratio - Net Fixed Asset Turnover 53.69Quick Ratio - Accounts receivable turnover-days -Debt to Assets 28.16% Inventory Days -Tot Debt to Common Equity 192.08% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Suncorp Group LtdPrice/Volume
Valuation Analysis
4'518'468.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs & Partners Australia RYAN FISHER buy 5 M 10 Not Provided 07.02.2011RBS RICHARD COLES buy 5 M 10 12 month 02.02.2011Deutsche Bank KIEREN CHIDGEY buy 5 N 11 12 month 02.02.2011Macquarie TONY JACKSON neutral 3 M 9 12 month 27.01.2011Credit Suisse JOHN HEAGERTY neutral 3 M 10 Not Provided 22.01.2011Citi NIGEL PITTAWAY buy 5 M 10 Not Provided 21.01.2011JPMorgan SIDDHARTH PARAMESWARAN overweight 5 M 11 12 month 12.01.2011CLSA Asia Pacific Markets DANIEL TOOHEY buy 5 M 10 Not Provided 12.01.2011Southern Cross TS LIM buy 5 M 10 12 month 05.01.2011UBS JAMES COGHILL neutral 3 M 10 12 month 08.11.2010
TABCORP Holdings Limited is a gambling and entertainment group involved in
combination of wagering, gaming, hospitality and media activities acrossAustralia. The Company's main activities are operates hotel casinos, wagering,and gaming.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (06.06.2011) 3.7052-Week Low (15.09.2011) 2.56Daily Volume
EBITDA 1'107.50 Long-Term Rating Date 03.06.2011EBIT 884.50 Long-Term Rating BBBOperating Margin 30.01% Long-Term Outlook STABLEPretax Margin 2.38% Short-Term Rating Date -Return on Assets 11.51% Short-Term Rating -Return on Common Equity 22.93%Return on Capital 11.16% EBITDA/Interest Exp. 8.14Asset Turnover 0.63% (EBITDA-Capex)/Interest Exp. 3.76
Net Debt/EBITDA 0.74Gross Margin 99.8% Total Debt/EBITDA 0.87EBITDA Margin 37.6%EBIT Margin 30.0% Total Debt/Equity 79.7%Net Income Margin 18.1% Total Debt/Capital 44.3%
Asset Turnover 0.63Current Ratio 0.26 Net Fixed Asset Turnover 2.88Quick Ratio 0.18 Accounts receivable turnover-days 2.77Debt to Assets 34.00% Inventory Days 694.10Tot Debt to Common Equity 79.69% Accounts Payable Turnover Day 94255.88Accounts Receivable Turnover 131.58 Cash Conversion Cycle -93559.01Inventory Turnover 0.53
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
TABCORP Holdings LtdPrice/Volume
Valuation Analysis
2'017'636.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse LARRY GANDLER underperform 1 M 7 Not Provided 04.02.2011Macquarie ANDREW LEVY underperform 1 M 7 12 month 04.02.2011CLSA Asia Pacific Markets SACHA KRIEN outperform 5 M 9 Not Provided 04.02.2011RBS HARRY THEODORE buy 5 M 8 12 month 03.02.2011Deutsche Bank MARK WILSON hold 3 M 7 12 month 03.02.2011JPMorgan STUART JACKSON neutral 3 M 7 12 month 03.02.2011Citi JENNY OWEN buy 5 M 9 Not Provided 03.02.2011Goldman Sachs & Partners Australia ADAM ALEXANDER hold 3 M 8 Not Provided 03.02.2011Austock Securities ROHAN SUNDRAM hold 3 U 7 Not Provided 03.02.2011UBS SAM THEODORE buy 5 M 9 12 month 21.10.2010
EBITDA 612.26 Long-Term Rating Date -EBIT 492.84 Long-Term Rating -Operating Margin 13.48% Long-Term Outlook -Pretax Margin 10.91% Short-Term Rating Date -Return on Assets 5.66% Short-Term Rating -Return on Common Equity 10.97%Return on Capital 8.79% EBITDA/Interest Exp. 5.97Asset Turnover 0.75% (EBITDA-Capex)/Interest Exp. 5.23
Net Debt/EBITDA 1.65Gross Margin - Total Debt/EBITDA 2.08EBITDA Margin 16.7%EBIT Margin 13.5% Total Debt/Equity 49.8%Net Income Margin 7.5% Total Debt/Capital 33.2%
Asset Turnover 0.75Current Ratio 0.68 Net Fixed Asset Turnover 12.77Quick Ratio 0.55 Accounts receivable turnover-days 6.70Debt to Assets 26.66% Inventory Days -Tot Debt to Common Equity 49.77% Accounts Payable Turnover Day -Accounts Receivable Turnover 54.49 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Tatts Group LtdPrice/Volume
Valuation Analysis
3'162'613.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeAUSTRALIA & NEW ZEAL n/a EXCH 67'921'887 5.22 - 01.05.2008 BankPERPETUAL LTD n/a Co File 65'286'363 5.02 - 07.09.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 58'140'167 4.47 (5'360'274) 08.10.2009 BankCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 53'500'000 4.11 - 30.09.2010 Investment AdvisorSEYMOUR KEVIN WILL n/a Co File 24'000'000 1.84 - 26.08.2010 n/aBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 12'997'647 1 - 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 10'362'382 0.8 134'849 31.12.2010 Investment AdvisorWBK PTY LTD n/a EXCH 9'327'340 0.72 - 03.11.2008 n/aSOLID EARTH PTY LTD n/a EXCH 9'127'640 0.7 - 03.11.2008 n/aVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 6'479'901 0.5 243'963 31.12.2010 Mutual Fund ManagerABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 5'845'140 0.45 (232'045) 31.12.2010 Investment AdvisorAXA ROSENBERG INTL Multiple Portfolios MF-AGG 5'353'519 0.41 (14'400) 30.09.2010 Investment AdvisorRCM CAPITAL MANAGEME Multiple Portfolios MF-AGG 4'078'823 0.31 - 30.09.2010 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 3'226'220 0.25 - 31.10.2009 Investment AdvisorMCILWAIN RICHARD DOU n/a Co File 1'947'500 0.15 - 26.08.2010 n/aJPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 1'722'187 0.13 (139'956) 30.09.2010 Mutual Fund ManagerSEI INVESTMENT MANAG Multiple Portfolios MF-AGG 1'511'616 0.12 (513'433) 31.10.2010 Investment AdvisorVAN ECK ASSOCIATES C Multiple Portfolios MF-AGG 1'460'748 0.11 - 04.02.2011 Investment AdvisorBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 1'362'088 0.1 1'898 04.02.2011 Investment AdvisorRUSSELL INVESTMENT M Multiple Portfolios MF-AGG 1'283'577 0.1 - 30.01.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs & Partners Australia ADAM ALEXANDER hold 3 M 3 Not Provided 02.02.2011RBS HARRY THEODORE hold 3 M 2 12 month 01.02.2011Deutsche Bank MARK WILSON buy 5 M 3 12 month 27.01.2011Credit Suisse LARRY GANDLER outperform 5 M 3 Not Provided 25.01.2011CLSA Asia Pacific Markets SACHA KRIEN buy 5 M 3 Not Provided 12.01.2011Macquarie ANDREW LEVY neutral 3 M 2 12 month 30.11.2010Citi JENNY OWEN sell 1 D 2 Not Provided 29.10.2010JPMorgan STUART JACKSON underweight 1 M 2 6 month 27.08.2010Austock Securities ROHAN SUNDRAM buy 5 M 3 Not Provided 27.08.2010UBS SAM THEODORE buy 5 M 3 12 month 26.08.2010
Telecom Corporation of New Zealand Limited provides telecommunications services
by offering local, national and international telephone services to householdsand businesses. Telecom's other services include leased circuits, datacommunications, directories, cellular, paging and Internet related services andsolutions.
Latest Fiscal Year: 06/2011LTM as of: 09/yy52-Week High (26.08.2011) 2.1752-Week Low (18.03.2011) 1.42Daily Volume
EBITDA 1'614.00 Long-Term Rating Date 04.08.2010EBIT 587.00 Long-Term Rating A *-Operating Margin 11.98% Long-Term Outlook -Pretax Margin 5.66% Short-Term Rating Date 04.08.2010Return on Assets 2.47% Short-Term Rating A-1 *-Return on Common Equity 6.77%Return on Capital 5.93% EBITDA/Interest Exp. 8.15Asset Turnover 0.74% (EBITDA-Capex)/Interest Exp. 3.08
Net Debt/EBITDA 1.10Gross Margin - Total Debt/EBITDA 1.30EBITDA Margin 33.0%EBIT Margin 12.0% Total Debt/Equity 90.9%Net Income Margin 3.3% Total Debt/Capital 47.6%
Asset Turnover 0.74Current Ratio 0.67 Net Fixed Asset Turnover 1.23Quick Ratio 0.44 Accounts receivable turnover-days 34.54Debt to Assets 32.81% Inventory Days -Tot Debt to Common Equity 90.94% Accounts Payable Turnover Day -Accounts Receivable Turnover 10.57 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Telecom Corp of New Zealand LtdPrice/Volume
Valuation Analysis
1'989'159.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
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Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeSCHRODER INVESTMENT n/a EXCH 136'595'330 7.1 38'598'440 20.01.2011 Investment AdvisorMACQUARIE GROUP LTD n/a EXCH 124'203'448 6.45 (68'246'810) 01.03.2010 Investment AdvisorAXA n/a EXCH 101'694'543 5.28 (21'833'322) 14.12.2010 Investment AdvisorLAZARD ASSET MANAGEM n/a EXCH 94'152'739 4.89 (2'971'042) 18.01.2011 Investment AdvisorMONDRIAN INVESTMENT n/a EXCH 91'386'948 4.75 (2'481'573) 02.09.2009 Hedge Fund ManagerBRANDES INVESTMENT P n/a EXCH 91'022'387 4.73 - 12.06.2008 Investment AdvisorBLACKROCK INC n/a 13G 86'720'344 4.51 - 31.03.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a Co File 85'472'086 4.44 - 09.08.2010 BankNATIONAL AUSTRALIA B n/a EXCH 81'193'369 4.22 (28'075'348) 03.03.2010 BankVANGUARD GROUP INC Multiple Portfolios MF-AGG 18'811'903 0.98 301'312 31.12.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 15'271'415 0.79 - 04.02.2011 Investment AdvisorBLACKROCK ASSET MANA Multiple Portfolios MF-AGG 12'153'860 0.63 - 04.02.2011 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 9'600'171 0.5 351'029 31.12.2010 Mutual Fund ManagerRBC ASSET MANAGEMENT Multiple Portfolios MF-AGG 7'619'843 0.4 30'623 31.08.2010 Investment AdvisorSANFORD C BERNSTEIN Multiple Portfolios MF-AGG 7'018'857 0.36 (4'516'000) 30.11.2010 Investment AdvisorGRANTHAM MAYO VAN OT Multiple Portfolios MF-AGG 6'473'610 0.34 - 31.08.2010 Investment AdvisorLANDESBANK BERLIN IN Multiple Portfolios MF-AGG 5'947'804 0.31 - 30.01.2011 Mutual Fund ManagerDELAWARE MANAGEMENT Multiple Portfolios MF-AGG 5'937'762 0.31 45'979 31.12.2010 Investment AdvisorSMARTSHARES LIMITED Multiple Portfolios MF-AGG 5'509'736 0.29 165'532 31.03.2010 Investment AdvisorSMARTSHARES NZX 10 F n/a EXCH 4'542'637 0.24 - 31.03.2010 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie ANDREW LEVY neutral 3 M 2 12 month 08.02.2011JPMorgan LAURENT HORRUT neutral 3 M 2 12 month 07.02.2011Goldman Sachs & Partners Australia TRISTAN JOLL sell 1 M 2 Not Provided 04.02.2011Deutsche Bank GEOFF ZAME hold 3 M 2 12 month 20.01.2011Morgan Stanley MARK BLACKWELL Underwt/In-Line 1 M 1 12 month 13.12.2010UBS RICHARD EARY neutral 3 M 2 12 month 05.11.2010BBY Limited MARK MCDONNELL buy 5 M 3 12 month 05.11.2010First NZ Capital GREG MAIN underperform 1 D 2 12 month 20.08.2010RBS ALAN STUART hold 3 M 2 12 month 13.06.2010Citi CHRISTOPHER I VAGG hold 3 M 2 Not Provided 27.05.2010Forsyth Barr GUY HALLWRIGHT accumulate 4 U #N/A N/A Not Provided 25.05.2010CLSA Asia Pacific Markets NEEL SINHA underperform 1 M 2 Not Provided 05.11.2009
Telstra Corporation Limited is a full service domestic and international
telecommunications provider for Australia. The Company provides telephoneexchange lines to homes and businesses, supplying local, long distance andinternational telephone calls and supplying mobile telecommunications services.Telstra also provides data, internet, on-line services and directory services.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (17.08.2011) 3.1752-Week Low (17.11.2010) 2.55Daily Volume
Shares Out 30.06.2011 12'443.1 Short Int 65.6338'075.81 1 Yr Total Return 22.34%
Total Debt 14'168.00 YTD Return 20.59%Preferred Stock 0.0 Adjusted BETA 0.596Minority Interest 218.0 Analyst Recs 16Cash and Equivalents 2'630.00 Consensus Rating 3.625Enterprise Value 49'831.81
Average Volume 5 Day 56'146'420TLS AT EQUITY YTD Change - Average Volume 30 Day 80'836'010TLS AT EQUITY YTD % CHANGE - Average Volume 3 Month 69'994'520
EBITDA 10'038.00 Long-Term Rating Date 14.02.2006EBIT 5'579.00 Long-Term Rating AOperating Margin 22.33% Long-Term Outlook NEGPretax Margin 18.24% Short-Term Rating Date 14.02.2006Return on Assets 8.37% Short-Term Rating A-1Return on Common Equity 26.09%Return on Capital 14.79% EBITDA/Interest Exp. 8.46Asset Turnover 0.65% (EBITDA-Capex)/Interest Exp. 6.49
Net Debt/EBITDA 1.15Gross Margin 89.4% Total Debt/EBITDA 1.41EBITDA Margin 40.2%EBIT Margin 22.3% Total Debt/Equity 117.3%Net Income Margin 12.9% Total Debt/Capital 53.5%
Asset Turnover 0.65Current Ratio 0.87 Net Fixed Asset Turnover 1.12Quick Ratio 0.68 Accounts receivable turnover-days 45.14Debt to Assets 37.37% Inventory Days 39.90Tot Debt to Common Equity 117.34% Accounts Payable Turnover Day 125.50Accounts Receivable Turnover 8.09 Cash Conversion Cycle -40.47Inventory Turnover 9.15
Fiscal Year Ended
Telstra Corp LtdPrice/Volume
Valuation Analysis
30'927'856.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan LAURENT HORRUT overweight 5 M 3 12 month 07.02.2011HSBC NEALE ANDERSON overweight 5 M 3 Not Provided 07.02.2011Morgan Stanley MARK BLACKWELL Overwt/In-Line 5 M 4 12 month 04.02.2011Credit Suisse BRADLEY CLIBBORN outperform 5 M 3 Not Provided 04.02.2011Southern Cross DANIEL BLAIR buy 5 U 3 12 month 03.02.2011BBY Limited MARK MCDONNELL hold 3 M 3 12 month 02.02.2011Goldman Sachs & Partners Australia CHRISTIAN GUERRA hold 3 M 3 Not Provided 02.02.2011Nomura SACHIN GUPTA neutral 3 M 3 Not Provided 01.02.2011Deutsche Bank ANDREW ANAGNOSTELLIS hold 3 M 3 12 month 31.01.2011Macquarie ANDREW LEVY neutral 3 M 3 12 month 29.01.2011E.L. & C. Baillieu IVOR RIES sell 1 M 3 12 month 21.12.2010Commonwealth Bank ALICE BENNETT buy 5 M 3 12 month 20.12.2010RBS FRASER MCLEISH buy 5 U 3 12 month 24.11.2010CLSA Asia Pacific Markets DIGBY GILMOUR outperform 5 U 3 Not Provided 24.11.2010Evans & Partners Pty Ltd TONY WILSON neutral 3 U #N/A N/A Not Provided 07.10.2010UBS RICHARD EARY buy 5 M 4 12 month 13.08.2010Citi CHRISTOPHER I VAGG buy 5 M 4 Not Provided 12.08.2010
Ten Network Holdings Limited operates commercial television stations through
five capital cities in Australia known as the Ten Network. The Companybroadcasts and produces television shows, movies, news and sporting events.The Company also provides outdoor advertising services.
Latest Fiscal Year: 08/2010LTM as of: 01/yy52-Week High (22.11.2010) 1.6652-Week Low (09.08.2011) 0.81Daily Volume
EBITDA 207.93 Long-Term Rating Date -EBIT 178.72 Long-Term Rating -Operating Margin 18.04% Long-Term Outlook -Pretax Margin 14.28% Short-Term Rating Date -Return on Assets 9.21% Short-Term Rating -Return on Common Equity 18.18%Return on Capital - EBITDA/Interest Exp. 6.45Asset Turnover 0.61% (EBITDA-Capex)/Interest Exp. 5.89
Net Debt/EBITDA 1.43Gross Margin - Total Debt/EBITDA 1.49EBITDA Margin 21.0%EBIT Margin 18.0% Total Debt/Equity 34.4%Net Income Margin 15.1% Total Debt/Capital 25.6%
Asset Turnover 0.61Current Ratio 1.71 Net Fixed Asset Turnover 11.37Quick Ratio 0.87 Accounts receivable turnover-days 62.60Debt to Assets 18.67% Inventory Days -Tot Debt to Common Equity 34.43% Accounts Payable Turnover Day -Accounts Receivable Turnover 5.83 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
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Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
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Ten Network Holdings LtdPrice/Volume
Valuation Analysis
3'534'010.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBIRKETU PTY LTD n/a EXCH 146'559'823 14.02 10'709'823 17.11.2010 Investment AdvisorHANCOCK PROSPECTING n/a EXCH 105'713'672 10.11 - 13.12.2010 n/aMURDOCH LACHLAN KEIT n/a EXCH 93'422'456 8.94 - 13.12.2010 n/aPACKER JAMES DOUGLAS n/a EXCH 93'422'456 8.94 - 13.12.2010 n/aPERPETUAL LTD n/a EXCH 62'334'680 5.96 (15'000'000) 19.11.2010 Investment AdvisorUBS AG n/a Co File 56'829'887 5.44 - 30.09.2009 Investment AdvisorING GROEP NV n/a EXCH 52'439'048 5.02 - 29.06.2010 Investment AdvisorAUSTRALIA & NEW ZEAL n/a EXCH 52'303'141 5 - 17.08.2010 BankWESTPAC BANKING CORP n/a EXCH 52'218'493 5 (370'625) 20.10.2009 BankCOMMONWEALTH BANK OF n/a EXCH 50'869'027 4.87 (11'166'591) 08.10.2010 BankPARADICE INVESTMENT n/a EXCH 50'288'185 4.81 (2'000'000) 21.05.2010 Investment AdvisorAUSBIL DEXIA LIMITED n/a EXCH 49'064'685 4.69 (15'880'784) 08.07.2010 Investment AdvisorHARRIS ASSOCIATES L HARRIS ASSOC LP 13F 19'925'200 1.91 2'922'000 31.12.2010 Investment AdvisorGLEESON PAUL V n/a Co File 15'228'608 1.46 - 31.08.2009 n/aALLARD SERVICES PTY n/a Co File 12'184'563 1.17 - 22.10.2009 n/aAUSTRALIAN REWARD IN n/a Co File 11'825'534 1.13 - 22.10.2009 OtherQUEENSLAND INVESTMEN n/a EXCH 9'017'080 0.86 - 22.10.2009 Investment AdvisorAMP LIFE LTD n/a Co File 8'347'832 0.8 - 22.10.2009 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 3'997'559 0.38 3'997'559 30.06.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 3'816'998 0.37 (683'646) 31.12.2010 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank ANDREW ANAGNOSTELLIS hold 3 M 2 12 month 07.02.2011Commonwealth Bank ALICE BENNETT sell 1 D 1 12 month 27.01.2011Goldman Sachs & Partners Australia CHRISTIAN GUERRA buy 5 M 2 Not Provided 25.01.2011Macquarie ALEX POLLAK neutral 3 M 2 12 month 20.01.2011CLSA Asia Pacific Markets DIGBY GILMOUR buy 5 M 2 Not Provided 20.01.2011Morgan Stanley ANDREW MCLEOD Overwt/Cautious 5 M 2 12 month 19.01.2011RBS FRASER MCLEISH hold 3 U 1 12 month 13.01.2011JPMorgan LAURENT HORRUT neutral 3 M 1 6 month 26.11.2010Citi JUSTIN DIDDAMS buy 5 M 2 Not Provided 16.11.2010BBY Limited MARK MCDONNELL hold 3 D 2 12 month 25.10.2010Evans & Partners Pty Ltd TONY WILSON neutral 3 D #N/A N/A Not Provided 24.10.2010Credit Suisse JOLANTA MASOJADA neutral 3 M 2 Not Provided 22.10.2010UBS LAUREN MORAN neutral 3 M 2 12 month 22.10.2010
Toll Holdings Limited provides express freight transport by road, rail and sea
and provides integrated logistics and distribution systems, includingspecialized warehousing, port operations, vehicle transport and distribution,and rail passenger operations. The Company also provides coastal shipping,refrigerated freight services, bulk liquid transportation and wharf services.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (06.10.2010) 7.0452-Week Low (09.08.2011) 3.70Daily Volume
EBITDA 639.70 Long-Term Rating Date -EBIT 396.40 Long-Term Rating -Operating Margin 4.82% Long-Term Outlook -Pretax Margin 4.99% Short-Term Rating Date -Return on Assets 4.88% Short-Term Rating -Return on Common Equity 10.28%Return on Capital 7.71% EBITDA/Interest Exp. 12.98Asset Turnover 1.43% (EBITDA-Capex)/Interest Exp. 2.70
Net Debt/EBITDA 1.59Gross Margin - Total Debt/EBITDA 2.37EBITDA Margin 7.8%EBIT Margin 4.8% Total Debt/Equity 54.8%Net Income Margin 3.4% Total Debt/Capital 35.1%
Asset Turnover 1.43Current Ratio 0.79 Net Fixed Asset Turnover 4.42Quick Ratio 0.64 Accounts receivable turnover-days 40.37Debt to Assets 25.92% Inventory Days -Tot Debt to Common Equity 54.77% Accounts Payable Turnover Day -Accounts Receivable Turnover 9.04 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
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Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Toll Holdings LtdPrice/Volume
Valuation Analysis
1'345'396.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeUBS AG n/a EXCH 42'597'457 6.03 - 13.10.2010 Investment AdvisorLITTLE PAUL ALEXANDE n/a EXCH 36'050'579 5.1 - 31.03.2010 n/aBARCLAYS PLC n/a EXCH 33'713'662 4.77 (12'456'956) 13.10.2009 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 33'542'218 4.75 (1'808'736) 11.05.2010 BankAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 8'133'000 1.15 133'000 30.06.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 6'380'455 0.9 - 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 5'480'889 0.78 53'343 31.12.2010 Investment AdvisorUBS STRATEGY FUND MG Multiple Portfolios MF-AGG 5'095'589 0.72 3'743'899 29.10.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 3'342'551 0.47 106'250 31.12.2010 Mutual Fund ManagerHARTFORD INVESTMENT Multiple Portfolios MF-AGG 2'852'425 0.4 (39'475) 31.12.2010 Investment AdvisorSKANDIA GLOBAL FUNDS Multiple Portfolios MF-AGG 2'603'392 0.37 335'240 29.10.2010 Mutual Fund ManagerMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 2'374'202 0.34 (27'605) 31.12.2010 Mutual Fund ManagerOPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 1'285'990 0.18 73'500 31.10.2010 Investment AdvisorHARTFORD INVESTMENT Multiple Portfolios MF-AGG 1'035'358 0.15 18'492 31.12.2010 Investment AdvisorPACIFIC LIFE INSURAN Multiple Portfolios MF-AGG 881'860 0.12 - 31.12.2010 Insurance CompanySTB ASSET MANAGEMENT Multiple Portfolios MF-AGG 843'996 0.12 41'112 30.09.2010 Mutual Fund ManagerGLENMEDE ADVISORS IN Multiple Portfolios MF-AGG 746'135 0.11 285'400 31.10.2010 Investment AdvisorSJUNDE AP FONDEN Multiple Portfolios MF-AGG 711'703 0.1 8'403 30.09.2010 Investment AdvisorMAPS INVESTMENT MANA Multiple Portfolios MF-AGG 698'642 0.1 (567'402) 30.09.2010 Mutual Fund ManagerNAMARONG INVESTMENTS n/a EXCH 662'120 0.09 - 19.11.2008 Other
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank CAMERON MCDONALD hold 3 M 6 12 month 02.02.2011Macquarie RUSSELL SHAW underperform 1 M 6 12 month 02.02.2011Credit Suisse ANTHONY MOULDER underperform 1 M 7 Not Provided 31.01.2011Commonwealth Bank MATT CROWE hold 3 M 7 12 month 28.01.2011RBS MARK WILLIAMS hold 3 M 6 12 month 21.01.2011Evans & Partners Pty Ltd PAUL RYAN neutral 3 U #N/A N/A Not Provided 13.01.2011UBS SIMON MITCHELL neutral 3 M 6 12 month 03.11.2010Paterson Securities GRAEME CARSON hold 3 M 7 12 month 29.10.2010Goldman Sachs & Partners Australia ANDREW GIBSON hold 3 M 8 Not Provided 08.10.2010JPMorgan SCOTT CARROLL neutral 3 M 7 6 month 27.08.2010Morgan Stanley JULIA WENG Equalwt/In-Line 3 M 7 12 month 26.08.2010Citi SHAVARSH BEDROSSIAN buy 5 M 7 Not Provided 26.08.2010E.L. & C. Baillieu ROSS MACMILLAN accumulate 4 N 7 12 month 26.08.2010
Transfield Services Limited provides a variety of operations and maintenance
outsourcing services in Australia and New Zealand, which cover structural,mechanical, instrumentation, civil and electrical maintenance. The Group'scustomers operate within the power, rail, oil and gas, petrochemical, defense,water utility, telecommunication, and mineral processing sectors.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (19.05.2011) 3.7652-Week Low (15.09.2011) 1.99Daily Volume
EBITDA 137.39 Long-Term Rating Date -EBIT 56.14 Long-Term Rating -Operating Margin 2.04% Long-Term Outlook -Pretax Margin 1.85% Short-Term Rating Date -Return on Assets -0.96% Short-Term Rating -Return on Common Equity -2.05%Return on Capital 1.00% EBITDA/Interest Exp. 3.54Asset Turnover 1.33% (EBITDA-Capex)/Interest Exp. 1.66
Net Debt/EBITDA 1.90Gross Margin - Total Debt/EBITDA 3.75EBITDA Margin 5.0%EBIT Margin 2.0% Total Debt/Equity 45.9%Net Income Margin -0.7% Total Debt/Capital 31.4%
Asset Turnover 1.33Current Ratio 1.51 Net Fixed Asset Turnover 11.36Quick Ratio 1.17 Accounts receivable turnover-days 65.53Debt to Assets 22.74% Inventory Days -Tot Debt to Common Equity 45.90% Accounts Payable Turnover Day -Accounts Receivable Turnover 5.57 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Transfield Services LtdPrice/Volume
Valuation Analysis
1'875'962.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeTRANSFIELD PTY LTD n/a EXCH 57'849'887 10.52 - 21.01.2011 CorporationWESTPAC BANKING CORP n/a EXCH 57'234'871 10.41 16'534'843 23.12.2010 BankMONDRIAN INVESTMENT n/a EXCH 32'180'465 5.85 10'026'890 24.12.2010 Hedge Fund ManagerSCHRODER INVESTMENT n/a EXCH 21'632'157 3.94 - 28.04.2010 Investment AdvisorAMP LTD n/a EXCH 20'620'180 3.75 (2'157'380) 30.11.2009 Insurance CompanyMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 4'733'804 0.86 1'560'915 31.12.2010 Mutual Fund ManagerVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'325'779 0.42 582'295 31.12.2010 Mutual Fund ManagerAMERIPRISE FINANCIAL Multiple Portfolios MF-AGG 2'325'479 0.42 174'772 30.11.2010 Investment AdvisorBELGIORNO-NETTIS LUC n/a EXCH 2'170'585 0.39 203'435 21.01.2011 n/aCOMMONWEALTH BANK OF n/a EXCH 2'143'533 0.39 (9'719'397) 17.03.2008 BankUNION INVESTMENT LUX Multiple Portfolios MF-AGG 940'000 0.17 - 30.09.2010 Mutual Fund ManagerSADATMEHR JOSEPH n/a Co File 823'407 0.15 - 30.06.2010 n/aGOODE PETER ALLAN n/a EXCH 611'111 0.11 111'111 21.01.2011 n/aBELGIORNO-NETTIS GUI n/a EXCH 498'992 0.09 88'740 21.01.2011 n/aBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 384'853 0.07 - 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 352'624 0.06 8'357 31.12.2010 Investment AdvisorBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 351'226 0.06 - 04.02.2011 Investment AdvisorLEGG MASON GLOBAL FU Multiple Portfolios MF-AGG 342'687 0.06 (85'176) 30.11.2010 Investment AdvisorSTATE STREET CORP Multiple Portfolios MF-AGG 232'731 0.04 - 04.02.2011 Investment AdvisorBURDON STEPHEN WILLI n/a EXCH 188'509 0.03 - 14.07.2010 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank CRAIG WONGPAN hold 3 M 3 12 month 07.02.2011LINWAR Securities STUART TURNER outperform 5 M 4 12 month 14.01.2011Austock Securities HEATH ANDREWS buy 5 M 4 Not Provided 12.01.2011Macquarie JOHN PURTELL outperform 5 M 4 12 month 22.12.2010Commonwealth Bank BEN BROWNETTE hold 3 M 4 12 month 16.12.2010E.L. & C. Baillieu GAVIN DUFFY accumulate 4 U 3 23 month 16.12.2010RBS ANDREW HODGE hold 3 M 4 12 month 15.12.2010Goldman Sachs & Partners Australia CHRIS SAVAGE hold 3 M 4 Not Provided 15.12.2010Credit Suisse CHRIS COUNIHAN neutral 3 M 4 Not Provided 14.12.2010JPMorgan ALISTAIR REID restricted #N/A N/A M #N/A N/A Not Provided 13.12.2010Nomura SIMON THACKRAY neutral 3 M 4 Not Provided 13.12.2010Paterson Securities GRAEME CARSON buy 5 M 4 12 month 29.11.2010
EBITDA 603.92 Long-Term Rating Date -EBIT 314.48 Long-Term Rating -Operating Margin 30.34% Long-Term Outlook -Pretax Margin 10.49% Short-Term Rating Date -Return on Assets 1.10% Short-Term Rating -Return on Common Equity 2.97%Return on Capital - EBITDA/Interest Exp. 1.38Asset Turnover 0.10% (EBITDA-Capex)/Interest Exp. 1.29
Net Debt/EBITDA 6.34Gross Margin - Total Debt/EBITDA 7.02EBITDA Margin 58.3%EBIT Margin 30.3% Total Debt/Equity 114.2%Net Income Margin 10.9% Total Debt/Capital 51.5%
Asset Turnover 0.10Current Ratio 0.66 Net Fixed Asset Turnover 6.41Quick Ratio 0.46 Accounts receivable turnover-days 10.31Debt to Assets 40.74% Inventory Days -Tot Debt to Common Equity 114.15% Accounts Payable Turnover Day -Accounts Receivable Turnover 35.39 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Transurban GroupPrice/Volume
Valuation Analysis
3'708'334.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCP2 LTD n/a EXCH 187'139'384 12.98 (180'712) 26.05.2010 Investment AdvisorCANADA PENSION PLAN n/a EXCH 182'552'346 12.67 - 17.06.2010 Pension Fund (ERISA)NATIONAL AUSTRALIA B n/a EXCH 73'171'925 5.08 - 21.07.2010 BankBLACKROCK INVESTMENT n/a EXCH 70'391'790 4.88 (703'791) 14.07.2010 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 55'231'216 3.83 - 23.06.2008 BankONTARIO TEACHERS PEN n/a EXCH 20'270'964 1.41 (136'500'189) 21.05.2010 Pension Fund (ERISA)BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 16'083'801 1.12 - 04.02.2011 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 14'877'000 1.03 5'056'000 30.06.2010 Investment AdvisorCI INVESTMENTS INC Multiple Portfolios MF-AGG 12'338'279 0.86 4'400'229 30.06.2010 Hedge Fund ManagerVANGUARD GROUP INC Multiple Portfolios MF-AGG 10'580'783 0.73 229'496 31.12.2010 Investment AdvisorBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 8'384'553 0.58 1'000'714 04.02.2011 Investment AdvisorNEW JERSEY DIVISION Multiple Portfolios MF-AGG 7'869'334 0.55 - 30.09.2010 Pension Fund (ERISA)VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 7'268'560 0.5 234'645 31.12.2010 Mutual Fund ManagerCOHEN & STEERS CAPIT Multiple Portfolios MF-AGG 5'861'749 0.41 1'987'998 30.09.2010 Investment AdvisorFRANK RUSSELL TRUST Multiple Portfolios MF-AGG 5'051'424 0.35 - 30.11.2010 Investment AdvisorGOLDMAN SACHS ASSET Multiple Portfolios MF-AGG 2'420'143 0.17 (364'601) 30.09.2010 Mutual Fund ManagerMACQUARIE INFRASTRUC Multiple Portfolios MF-AGG 2'416'418 0.17 (280'127) 30.11.2009 Investment AdvisorEDWARDS KIMBERLEY n/a EXCH 2'022'500 0.14 (11'000) 07.11.2007 n/aMAPS INVESTMENT MANA Multiple Portfolios MF-AGG 1'918'992 0.13 1'836'492 30.09.2010 Mutual Fund ManagerFIRST TRUST ADVISORS Multiple Portfolios MF-AGG 1'698'535 0.12 (96'696) 31.08.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank CAMERON MCDONALD hold 3 M 5 12 month 08.02.2011Commonwealth Bank PAUL JOHNSTON buy 5 M 6 12 month 31.01.2011Macquarie IAN MYLES neutral 3 M 5 12 month 28.01.2011CLSA Asia Pacific Markets SCOTT RYALL outperform 5 N 6 Not Provided 28.01.2011Morgan Stanley SCOTT KELLY Overwt/In-Line 5 M 6 12 month 13.01.2011UBS XU HAN buy 5 M 6 12 month 13.01.2011JPMorgan KIRSTY MACKAY-FISHER neutral 3 M 6 12 month 13.01.2011Evans & Partners Pty Ltd TONY WILSON Positive 4 M #N/A N/A Not Provided 13.01.2011Goldman Sachs & Partners Australia JONATHAN COLLETT hold 3 M 6 Not Provided 08.12.2010Austock Securities ANDREW CHAMBERS buy 5 M 7 Not Provided 25.11.2010Citi MARIE MIYASHIRO hold 3 D 5 Not Provided 12.10.2010RBS LUKE MACNAB buy 5 M 6 12 month 12.08.2010Cormark Securities Inc. DAVID MCFADGEN market perform 3 M 9 Not Provided 09.02.2009
UGL Limited is a diversified engineering, construction and maintenance company.
The Company's operations include railway manufacturing, maintenance andengineering along with providing design, construction, operating and maintenanceservices in the mining, commercial property, water services, defenseandpetrochemicals industries.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (08.04.2011) 16.4852-Week Low (09.08.2011) 11.25Daily Volume
EBITDA 295.48 Long-Term Rating Date -EBIT 235.72 Long-Term Rating -Operating Margin 5.50% Long-Term Outlook -Pretax Margin 5.04% Short-Term Rating Date -Return on Assets 6.45% Short-Term Rating -Return on Common Equity 13.64%Return on Capital 10.84% EBITDA/Interest Exp. 11.45Asset Turnover 1.74% (EBITDA-Capex)/Interest Exp. 10.24
Net Debt/EBITDA 0.60Gross Margin - Total Debt/EBITDA 1.40EBITDA Margin 6.9%EBIT Margin 5.5% Total Debt/Equity 35.6%Net Income Margin 3.7% Total Debt/Capital 26.2%
Asset Turnover 1.74Current Ratio 1.46 Net Fixed Asset Turnover 26.88Quick Ratio 0.93 Accounts receivable turnover-days 38.22Debt to Assets 17.23% Inventory Days -Tot Debt to Common Equity 35.59% Accounts Payable Turnover Day -Accounts Receivable Turnover 9.55 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
UGL LtdPrice/Volume
Valuation Analysis
414'358.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank CRAIG WONGPAN hold 3 M 14 12 month 07.02.2011Goldman Sachs & Partners Australia CHRIS SAVAGE buy 5 M 19 Not Provided 07.02.2011LINWAR Securities STUART TURNER underperform 1 M 15 12 month 14.01.2011RBS ANDREW HODGE hold 3 M 15 12 month 05.01.2011JPMorgan ALISTAIR REID neutral 3 M 15 6 month 22.12.2010Macquarie JOHN PURTELL neutral 3 M 15 12 month 16.12.2010Paterson Securities GRAEME CARSON buy 5 M 17 12 month 01.12.2010Commonwealth Bank BEN BROWNETTE buy 5 M 17 12 month 30.11.2010Austock Securities HEATH ANDREWS sell 1 D 14 Not Provided 24.11.2010Credit Suisse CHRIS COUNIHAN outperform 5 M 16 Not Provided 28.10.2010Nomura SIMON THACKRAY buy 5 N 17 Not Provided 17.09.2010E.L. & C. Baillieu GAVIN DUFFY sell 1 N 13 12 month 18.08.2010Citi GUY ROBINSON hold 3 M 15 Not Provided 17.08.2010
manufactures and distributes industrial products, manufactures fertilizers andchemicals, and distributes liquefied petroleum gas and medical and industrialgases.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (17.02.2011) 35.2652-Week Low (09.08.2011) 26.04Daily Volume
EBITDA 3'778.00 Long-Term Rating Date 10.03.2011EBIT 2'855.00 Long-Term Rating A-Operating Margin 5.24% Long-Term Outlook STABLEPretax Margin 4.96% Short-Term Rating Date 07.11.2007Return on Assets 4.80% Short-Term Rating A-2Return on Common Equity 7.68%Return on Capital 7.53% EBITDA/Interest Exp. 7.76Asset Turnover 1.36% (EBITDA-Capex)/Interest Exp. 3.52
Net Debt/EBITDA 0.65Gross Margin - Total Debt/EBITDA 1.29EBITDA Margin 6.9%EBIT Margin 5.2% Total Debt/Equity 19.3%Net Income Margin 3.5% Total Debt/Capital 16.2%
Asset Turnover 1.36Current Ratio 1.17 Net Fixed Asset Turnover 6.88Quick Ratio 0.53 Accounts receivable turnover-days 11.62Debt to Assets 11.95% Inventory Days -Tot Debt to Common Equity 19.26% Accounts Payable Turnover Day -Accounts Receivable Turnover 31.42 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Wesfarmers LtdPrice/Volume
Valuation Analysis
2'353'450.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeCOMMONWEALTH BANK OF n/a Co File 51'766'352 5.15 - 16.09.2010 BankBARCLAYS PLC n/a EXCH 41'790'093 4.16 (11'159'934) 20.08.2009 Investment AdvisorCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 41'671'426 4.15 6'197'572 30.09.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 10'036'285 1 - 04.02.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 8'061'969 0.8 59'471 31.12.2010 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 6'166'000 0.61 - 30.06.2010 Investment AdvisorFIRST STATE INVESTME Multiple Portfolios MF-AGG 6'090'205 0.61 244'374 31.08.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 5'405'354 0.54 166'726 31.12.2010 Mutual Fund ManagerFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 4'245'088 0.42 58'339 31.12.2010 Investment AdvisorNEW JERSEY DIVISION Multiple Portfolios MF-AGG 4'000'000 0.4 - 30.09.2010 Pension Fund (ERISA)FIDELITY INTERNATION Multiple Portfolios MF-AGG 3'265'932 0.32 (313'164) 30.06.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 2'974'721 0.3 (105'307) 31.12.2010 Mutual Fund ManagerDAIWA SB INVESTMENTS Multiple Portfolios MF-AGG 1'395'700 0.14 158'700 26.07.2010 Investment AdvisorSKANDIA GLOBAL FUNDS Multiple Portfolios MF-AGG 1'353'485 0.13 99'667 29.10.2010 Mutual Fund ManagerFIRST STATE INVESTME Multiple Portfolios MF-AGG 1'299'667 0.13 355'229 30.09.2010 Mutual Fund ManagerUNION INVESTMENT GMB Multiple Portfolios MF-AGG 1'122'000 0.11 557'100 30.09.2010 Investment AdvisorAMERICAN CENTURY COM Multiple Portfolios MF-AGG 960'189 0.1 731'661 30.09.2010 Investment AdvisorGRAHAM JAMES PHILIP n/a Co File 937'094 0.09 - 16.09.2010 n/aDELAWARE MANAGEMENT Multiple Portfolios MF-AGG 852'467 0.08 (64'431) 31.12.2010 Investment AdvisorGOYDER RICHARD J B n/a Co File 770'193 0.08 - 16.09.2010 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank EMILY BEHNCKE buy 5 M 42 12 month 07.02.2011Credit Suisse GRANT SALIGARI outperform 5 M 40 Not Provided 04.02.2011Nomura DAVID COOKE buy 5 M 39 Not Provided 02.02.2011Morgan Stanley THOMAS KIERATH Underwt/In-Line 1 M 33 12 month 31.01.2011UBS BEN GILBERT neutral 3 M 31 12 month 31.01.2011JPMorgan SHAUN COUSINS overweight 5 M 34 12 month 31.01.2011Macquarie GREG DRING neutral 3 M 33 12 month 31.01.2011Goldman Sachs & Partners Australia PHILLIP KIMBER buy 5 M 42 Not Provided 31.01.2011Commonwealth Bank ANDREW MCLENNAN hold 3 M 35 12 month 31.01.2011Paterson Securities RUSSELL WRIGHT hold 3 M 31 12 month 31.01.2011Citi CRAIG WOOLFORD hold 3 M 32 Not Provided 14.01.2011RBS DANIEL BROEREN hold 3 D 33 12 month 12.01.2011Evans & Partners Pty Ltd TONY WILSON Positive 4 U #N/A N/A Not Provided 09.01.2011CLSA Asia Pacific Markets JAMES PATERSON outperform 5 N 33 Not Provided 28.05.2010
West Australian Newspapers Holdings Ltd. is the holding company for various
companies that write, publish and sell regional newspapers. The Company is alsoinvolved in the cinema exhibition, cinema advertising and film distribution.
Latest Fiscal Year: 06/2011LTM as of: 09/yy52-Week High (#N/A Field Not Applicable) -52-Week Low (#N/A Field Not Applicable) -Daily Volume
EBITDA 169.66 Long-Term Rating Date -EBIT 148.73 Long-Term Rating -Operating Margin 36.44% Long-Term Outlook -Pretax Margin 32.85% Short-Term Rating Date -Return on Assets 21.65% Short-Term Rating -Return on Common Equity 97.02%Return on Capital 28.44% EBITDA/Interest Exp. 8.51Asset Turnover 0.92% (EBITDA-Capex)/Interest Exp. 8.10
Net Debt/EBITDA 1.47Gross Margin - Total Debt/EBITDA 1.54EBITDA Margin 41.6%EBIT Margin 0.0% Total Debt/Equity 199.9%Net Income Margin 15.9% Total Debt/Capital 66.7%
Asset Turnover 0.92Current Ratio 2.22 Net Fixed Asset Turnover 1.86Quick Ratio 1.78 Accounts receivable turnover-days 47.53Debt to Assets 59.14% Inventory Days -Tot Debt to Common Equity 199.92% Accounts Payable Turnover Day -Accounts Receivable Turnover 7.68 Cash Conversion Cycle -Inventory Turnover -
Fiscal Year Ended
Seven West Media LtdPrice/Volume
Valuation Analysis
0.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeSEVEN NETWORK LTD n/a EXCH 53'424'268 24.32 - 17.11.2010 CorporationBLACKROCK INVESTMENT n/a EXCH 12'848'711 5.85 - 30.03.2010 Investment AdvisorAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 8'046'000 3.66 - 30.06.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 2'303'645 1.05 146'206 31.12.2010 Mutual Fund ManagerUCA FUNDS MANAGEMENT Multiple Portfolios MF-AGG 2'081'146 0.95 - 31.12.2010 Mutual Fund ManagerVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 860'177 0.39 2'662 31.12.2010 Mutual Fund ManagerBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 363'726 0.17 272 04.02.2011 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 269'624 0.12 - 31.12.2010 Investment AdvisorSTOKES KERRY MATTHEW n/a EXCH 249'584 0.11 2'462 17.11.2010 n/aGARVEN THOMAS L n/a Co File 197'559 0.09 - 30.06.2009 n/aVANGUARD GROUP INC Multiple Portfolios MF-AGG 100'028 0.05 14'178 31.12.2010 Investment AdvisorMANSELL PETER JOHN n/a Co File 57'921 0.03 - 03.12.2008 n/aSMARTSHARES LIMITED Multiple Portfolios MF-AGG 57'147 0.03 1'698 31.03.2010 Investment AdvisorAQR CAPITAL MANAGEME Multiple Portfolios MF-AGG 56'714 0.03 - 31.08.2010 Hedge Fund ManagerJOHN HANCOCK INVESTM Multiple Portfolios MF-AGG 49'061 0.02 28'344 31.12.2009 Mutual Fund ManagerFRAUNSCHIEL ERICH n/a Co File 45'520 0.02 - 05.11.2008 n/aLEGAL & GENERAL GROU Multiple Portfolios MF-AGG 37'075 0.02 943 30.04.2010 Investment AdvisorSTEINKE KENNETH NOEL n/a Co File 36'000 0.02 - 11.12.2008 n/aWELLS FARGO BANK NAT Multiple Portfolios MF-AGG 35'552 0.02 - 30.11.2010 Investment AdvisorPRINCIPAL LIFE INSUR PRINCIPAL LIFE INSUR Sch-D 32'199 0.01 10'335 30.06.2010 Insurance Company
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
UBS LAUREN MORAN neutral 3 M 6 12 month 07.02.2011Credit Suisse JOLANTA MASOJADA neutral 3 M 8 Not Provided 01.02.2011JPMorgan LAURENT HORRUT overweight 5 M 8 12 month 01.02.2011Commonwealth Bank ALICE BENNETT buy 5 U 8 12 month 27.01.2011Goldman Sachs & Partners Australia CHRISTIAN GUERRA buy 5 M 8 Not Provided 25.01.2011Deutsche Bank ANDREW ANAGNOSTELLIS hold 3 M 7 12 month 21.01.2011RBS FRASER MCLEISH hold 3 M 7 12 month 20.01.2011Morgan Stanley ANDREW MCLEOD Underwt/Cautious 1 M 7 12 month 19.01.2011Macquarie ALEX POLLAK neutral 3 M 7 12 month 10.12.2010Hartleys TRENT BARNETT hold 3 D 7 12 month 18.11.2010BBY Limited MARK MCDONNELL hold 3 M 6 12 month 18.11.2010Southern Cross DANIEL BLAIR buy 5 M 8 12 month 17.11.2010CLSA Asia Pacific Markets DIGBY GILMOUR underperform 1 D 6 Not Provided 17.11.2010Evans & Partners Pty Ltd TONY WILSON negative 2 M #N/A N/A Not Provided 23.08.2010Citi JUSTIN DIDDAMS hold 3 M 7 Not Provided 04.08.2010
Westfield Group is a property trust that invests in, leases and manages over
retail shopping centers in Australia, New Zealand, the United States and theUnited Kingdom. The Group's operations also include funds and asset managementand property development and construction.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (05.11.2010) 10.3452-Week Low (14.09.2011) 7.24Daily Volume
Shares Out 30.06.2011 2'309.0 Short Int 9.6117'525.22 1 Yr Total Return -17.92%
Total Debt 13'731.20 YTD Return -15.69%Preferred Stock 0.0 Adjusted BETA 0.687Minority Interest 277.0 Analyst Recs 13Cash and Equivalents 210.10 Consensus Rating 4.231Enterprise Value 31'771.12
Average Volume 5 Day 11'716'470WDC AT EQUITY YTD Change - Average Volume 30 Day 11'400'120WDC AT EQUITY YTD % CHANGE - Average Volume 3 Month 10'585'850
EBITDA 2'296.60 Long-Term Rating Date 07.12.2010EBIT 1'574.80 Long-Term Rating A-Operating Margin 43.29% Long-Term Outlook STABLEPretax Margin 41.20% Short-Term Rating Date 04.02.2005Return on Assets 2.68% Short-Term Rating A-2Return on Common Equity 5.48%Return on Capital 3.17% EBITDA/Interest Exp. 2.26Asset Turnover 0.09% (EBITDA-Capex)/Interest Exp. 0.85
Net Debt/EBITDA 5.89Gross Margin - Total Debt/EBITDA 5.98EBITDA Margin 63.1%EBIT Margin - Total Debt/Equity 83.1%Net Income Margin 30.6% Total Debt/Capital 45.0%
Asset Turnover 0.09Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 38.20% Inventory Days -Tot Debt to Common Equity 83.09% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Westfield GroupPrice/Volume
Valuation Analysis
3'919'483.00Current Price (9/dd/yy) Market Data
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeWESTFIELD C FUND PTY n/a Co File 179'598'386 7.78 - 15.03.2010 UnclassifiedBLACKROCK INVESTMENT n/a Co File 147'243'880 6.38 - 31.12.2009 Investment AdvisorING GROEP NV n/a EXCH 117'485'239 5.09 - 19.03.2010 Investment AdvisorVANGUARD GROUP INC n/a Co File 117'007'468 5.07 - 31.12.2009 Investment AdvisorCOMMONWEALTH BANK OF n/a EXCH 115'632'844 5.01 644'700 12.11.2010 BankVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 84'318'929 3.65 391'362 31.12.2010 Mutual Fund ManagerCOHEN & STEERS CAPIT Multiple Portfolios MF-AGG 50'319'947 2.18 5'519'178 03.02.2011 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 38'089'041 1.65 37'156'508 31.12.2010 Mutual Fund ManagerAMP LTD n/a Co File 34'122'349 1.48 - 31.12.2009 Insurance CompanyBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 24'172'251 1.05 - 04.02.2011 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 23'846'754 1.03 (403'379) 31.12.2010 Investment AdvisorING CLARION REAL EST Multiple Portfolios MF-AGG 18'904'001 0.82 (1'874'284) 31.12.2010 Investment AdvisorNOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 18'346'291 0.79 (6'659'260) 22.06.2010 Investment AdvisorQUEENSLAND INVESTMEN n/a Co File 18'254'663 0.79 - 22.09.2010 Investment AdvisorMORGAN STANLEY & CO Multiple Portfolios MF-AGG 18'153'680 0.79 297'409 30.09.2010 Investment AdvisorFRANLEY HOLDINGS PTY n/a Co File 16'975'434 0.74 - 31.12.2009 n/aLASALLE INVESTMENT M Multiple Portfolios MF-AGG 16'970'292 0.73 (343'499) 23.08.2010 Investment AdvisorING INVESTMENT MANAG Multiple Portfolios MF-AGG 16'124'779 0.7 588'235 30.09.2010 Investment AdvisorLOWY FRANK P n/a Co File 14'107'391 0.61 - 31.12.2009 n/aCOLONIAL FIRST STATE Multiple Portfolios MF-AGG 13'312'702 0.58 80'580 09.08.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank MATTHEW BERTRAM buy 5 M 11 12 month 07.02.2011Macquarie PAUL CHECCHIN neutral 3 M 10 12 month 03.02.2011UBS GRANT MCCASKER neutral 3 M 10 12 month 28.01.2011Credit Suisse STEPHEN RICH underperform 1 M 10 Not Provided 19.01.2011JPMorgan ROB STANTON neutral 3 D 11 12 month 18.01.2011Morgan Stanley LOURENS PIRENC Underwt/In-Line 1 M 10 12 month 16.01.2011Commonwealth Bank DAVID LLOYD hold 3 M 10 12 month 10.01.2011Citi DAVID BURGESS hold 3 M 11 Not Provided 15.12.2010Goldman Sachs & Partners Australia SIMON WHEATLEY sell 1 M 9 Not Provided 14.12.2010CLSA Asia Pacific Markets JOHN P KIM buy 5 M 11 Not Provided 14.12.2010Keefe, Bruyette & Woods BENJAMIN YANG outperform 5 M 9 12 month 10.12.2010
Shares Out 30.06.2011 3'054.2 Short Int 48.747'513.25 1 Yr Total Return -
Total Debt - YTD Return -0.62%Preferred Stock - Adjusted BETA -Minority Interest - Analyst Recs 12Cash and Equivalents - Consensus Rating 4.833Enterprise Value 9'558.35
Average Volume 5 Day 17'706'340WRT AT EQUITY YTD Change - Average Volume 30 Day 18'697'410WRT AT EQUITY YTD % CHANGE - Average Volume 3 Month 14'059'390
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeING GROEP NV n/a EXCH 223'753'285 7.33 - 04.01.2011 Investment AdvisorLOWY FRANK P n/a Co File 179'598'386 5.88 - 13.12.2010 n/aVANGUARD GROUP INC n/a EXCH 176'041'877 5.76 - 23.12.2010 Investment AdvisorBLACKROCK GROUP n/a EXCH 159'493'747 5.22 - 21.12.2010 Investment AdvisorCORDERA HOLDINGS PTY n/a EXCH 154'004'347 5.04 - 12.08.2010 n/aCOMMONWEALTH BANK OF n/a EXCH 148'528'926 4.86 (5'872'215) 06.01.2011 BankVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 111'907'852 3.66 14'290'462 31.12.2010 Mutual Fund ManagerMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 55'135'394 1.81 55'121'257 31.12.2010 Mutual Fund ManagerFRANKLIN RESOURCES I Multiple Portfolios MF-AGG 53'406'123 1.75 53'406'123 31.12.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 31'452'680 1.03 - 04.02.2011 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 28'676'017 0.94 23'075'328 31.12.2010 Investment AdvisorFRANLEY HOLDINGS PTY n/a EXCH 20'988'539 0.69 - 12.08.2010 n/aSTATE STREET CORP Multiple Portfolios MF-AGG 18'244'910 0.6 - 04.02.2011 Investment AdvisorBLACKROCK ASSET MANA Multiple Portfolios MF-AGG 10'185'631 0.33 53'823 04.02.2011 Investment AdvisorING CLARION REAL EST Multiple Portfolios MF-AGG 8'119'662 0.27 8'119'662 31.12.2010 Investment AdvisorPERPETUAL SUPERANNUA n/a EXCH 5'860'243 0.19 - 12.08.2010 n/aDEUTSCHE BANK AG Multiple Portfolios MF-AGG 4'486'437 0.15 4'486'437 31.12.2010 Investment AdvisorDAVID HILLEL LOWY n/a EXCH 4'175'515 0.14 - 12.08.2010 n/aPALMERSTON PTY LTD n/a EXCH 4'139'274 0.14 - 12.08.2010 n/aLOWY FOUNDATION PTY n/a EXCH 3'523'759 0.12 - 12.08.2010 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank MATTHEW BERTRAM buy 5 M 3 12 month 07.02.2011Macquarie PAUL CHECCHIN outperform 5 M 3 12 month 07.02.2011Goldman Sachs & Partners Australia SIMON WHEATLEY buy 5 M 3 Not Provided 04.02.2011Paterson Securities JONATHAN KRISKA hold 3 M 3 12 month 01.02.2011Citi DAVID BURGESS buy 5 N 3 Not Provided 21.01.2011Morgan Stanley LOURENS PIRENC Overwt/In-Line 5 N 3 12 month 17.01.2011Credit Suisse STEPHEN RICH neutral 3 N 3 Not Provided 17.01.2011UBS GRANT MCCASKER buy 5 N 3 12 month 17.01.2011JPMorgan ROB STANTON underweight 1 N 3 12 month 17.01.2011Commonwealth Bank DAVID LLOYD hold 3 N 3 12 month 14.01.2011CLSA Asia Pacific Markets JOHN P KIM buy 5 M 3 Not Provided 11.01.2011
Westpac Banking Corporation offers general and savings banking, including
lending, deposit taking and payment services. Westpac also provides investmentportfolio management and advice, unit trust and superannuation fund management,nominee and custodian facilities, insurance services, consumer finance, leasing,general finance, foreign exchange dealing and money market services.
Latest Fiscal Year: 09/2010LTM as of: 01/yy52-Week High (27.04.2011) 25.6052-Week Low (09.08.2011) 17.84Daily Volume
Shares Out 16.09.2011 3'030.2 Short Int 58.6159'119.42 1 Yr Total Return -11.01%
Total Debt 173'716.00 YTD Return -9.22%Preferred Stock 0.0 Adjusted BETA 1.210Minority Interest 1'929.0 Analyst Recs 17Cash and Equivalents 18'374.00 Consensus Rating 3.529Enterprise Value 228'001.40
Average Volume 5 Day 12'578'830WBC AT EQUITY YTD Change - Average Volume 30 Day 12'600'900WBC AT EQUITY YTD % CHANGE - Average Volume 3 Month 11'388'580
EBITDA - Long-Term Rating Date 22.02.2007EBIT - Long-Term Rating AAOperating Margin 47.72% Long-Term Outlook STABLEPretax Margin 47.66% Short-Term Rating Date 11.09.1996Return on Assets 1.05% Short-Term Rating A-1+Return on Common Equity 17.43%Return on Capital 3.11% EBITDA/Interest Exp. -Asset Turnover 0.06% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin -EBIT Margin - Total Debt/Equity 454.9%Net Income Margin 37.6% Total Debt/Capital 81.2%
Asset Turnover 0.06Current Ratio - Net Fixed Asset Turnover 41.28Quick Ratio - Accounts receivable turnover-days -Debt to Assets 28.10% Inventory Days -Tot Debt to Common Equity 454.88% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Fiscal Year Ended
Westpac Banking CorpPrice/Volume
Valuation Analysis
7'676'400.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley RICHARD E WILES Equalwt/Cautious 3 M 23 12 month 07.02.2011Nomura VICTOR GERMAN buy 5 M 26 Not Provided 07.02.2011Goldman Sachs & Partners Australia BENJAMIN KOO hold 3 M 28 Not Provided 04.02.2011JPMorgan SCOTT MANNING underweight 1 D 25 12 month 02.02.2011RBS ANDREW LYONS hold 3 M 23 12 month 19.01.2011Macquarie CRAIG TURTON neutral 3 M 24 12 month 19.01.2011Credit Suisse JARROD MARTIN neutral 3 M 25 Not Provided 11.01.2011BBY Limited BRETT LE MESURIER hold 3 D 25 12 month 13.12.2010Citi CRAIG WILLIAMS hold 3 M 23 Not Provided 03.12.2010Southern Cross TS LIM accumulate 4 M 24 12 month 02.12.2010CLSA Asia Pacific Markets BRIAN D JOHNSON outperform 5 M 22 Not Provided 24.11.2010Deutsche Bank JAMES FREEMAN hold 3 M 25 12 month 03.11.2010UBS JONATHAN MOTT neutral 3 M 24 12 month 03.11.2010Commonwealth Bank BEN ZUCKER hold 3 D 25 12 month 03.11.2010Daiwa Securities Capital Markets Co. JOHAN VANDERLUGT outperform 5 M 26 Not Provided 26.10.2010
Woodside Petroleum Limited explores for and produces oil and gas from offshore
and onshore facilities located in Western Australia and Northern Territory. TheCompany operates numerous oil and gas fields and pipelines throughout Australia,United States and Mauritania and its products include liquefied natural gas,domestic gas, condensate, crude oil and liquefied petroleum gas.
Latest Fiscal Year: 12/2010LTM as of: 01/yy52-Week High (11.04.2011) 50.8552-Week Low (09.08.2011) 30.53Daily Volume
EBITDA 2'887.00 Long-Term Rating Date 03.12.2010EBIT 2'105.00 Long-Term Rating BBB+Operating Margin 50.20% Long-Term Outlook NEGPretax Margin 54.23% Short-Term Rating Date 25.04.2001Return on Assets 8.30% Short-Term Rating NRReturn on Common Equity 15.83%Return on Capital 10.24% EBITDA/Interest Exp. -Asset Turnover 0.22% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA 1.37Gross Margin 60.2% Total Debt/EBITDA 1.70EBITDA Margin 68.9%EBIT Margin 50.2% Total Debt/Equity 44.3%Net Income Margin 37.6% Total Debt/Capital 29.6%
Asset Turnover 0.22Current Ratio 0.86 Net Fixed Asset Turnover 0.27Quick Ratio 0.68 Accounts receivable turnover-days 25.16Debt to Assets 24.34% Inventory Days 24.82Tot Debt to Common Equity 44.32% Accounts Payable Turnover Day 64.17Accounts Receivable Turnover 14.51 Cash Conversion Cycle -14.19Inventory Turnover 14.70
Fiscal Year Ended
Woodside Petroleum LtdPrice/Volume
Valuation Analysis
2'947'782.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
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Structure
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Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeSHELL ENERGY HOLDING n/a EXCH 190'119'364 24.27 (38'336'911) 09.11.2010 CorporationUBS AG n/a EXCH 24'591'771 3.14 - 08.11.2010 Investment AdvisorCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 18'309'957 2.34 (2'687'417) 30.09.2010 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 7'634'605 0.97 78'292 31.12.2010 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 6'303'840 0.8 - 03.02.2011 Investment AdvisorDEUTSCHE BANK AG Multiple Portfolios MF-AGG 4'923'073 0.63 75'941 31.12.2010 Investment AdvisorVANGUARD INVESTMENTS Multiple Portfolios MF-AGG 3'023'488 0.39 483'314 31.12.2010 Mutual Fund ManagerAUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 2'610'000 0.33 - 30.06.2010 Investment AdvisorSTATE FARM MUTUAL AU STATE FARM MUTUAL AU Sch-D 2'580'656 0.33 198'512 30.06.2010 Insurance CompanyBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 1'519'520 0.19 183'841 04.02.2011 Investment AdvisorPRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 1'480'810 0.19 39'337 31.12.2010 Investment AdvisorMACQUARIE INVESTMENT Multiple Portfolios MF-AGG 1'024'626 0.13 (27'468) 31.12.2010 Mutual Fund ManagerINVESCO LTD Multiple Portfolios MF-AGG 885'281 0.11 3'043 07.02.2011 Investment AdvisorSJUNDE AP FONDEN Multiple Portfolios MF-AGG 645'115 0.08 164'212 30.09.2010 Investment AdvisorMELLON GLOBAL MANAGE Multiple Portfolios MF-AGG 516'222 0.07 - 31.12.2010 Mutual Fund ManagerFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 513'826 0.07 55'884 31.12.2010 Investment AdvisorCHINA INTERNATIONAL Multiple Portfolios MF-AGG 500'000 0.06 (150'000) 30.06.2010 Investment AdvisorSCHRODER INVESTMENT Multiple Portfolios MF-AGG 469'767 0.06 22'843 30.06.2010 Investment AdvisorT ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 464'523 0.06 (2'639) 31.12.2010 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 462'349 0.06 (59'800) 30.06.2010 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley STUART BAKER Equalwt/Attractive 3 D 43 12 month 03.02.2011Deutsche Bank JOHN HIRJEE buy 5 M 53 12 month 01.02.2011Sanford C. Bernstein & Co NEIL BEVERIDGE outperform 5 M 53 12 month 28.01.2011Credit Suisse SANDRA MCCULLAGH neutral 3 M 48 Not Provided 22.01.2011UBS GORDON RAMSAY buy 5 M 54 12 month 21.01.2011JPMorgan BENJAMIN X. WILSON underweight 1 M 42 12 month 21.01.2011Citi MARK GREENWOOD sell 1 M 40 Not Provided 21.01.2011Macquarie ADRIAN WOOD neutral 3 M 47 12 month 21.01.2011Goldman Sachs & Partners Australia AIDEN BRADLEY hold 3 M 51 Not Provided 21.01.2011Commonwealth Bank ANDREW HINES buy 5 M 54 12 month 21.01.2011E.L. & C. Baillieu RAY CHANTRY hold 3 M 45 12 month 21.01.2011Nomura XAVIER MIELES GRUNAUER buy 5 M 56 Not Provided 18.01.2011Shaw Stockbroking SIMON OATEN hold 3 U #N/A N/A Not Provided 14.12.2010Daiwa Securities Capital Markets Co. DAVID BRENNAN outperform 5 M 45 Not Provided 03.12.2010Southern Cross JOHAN HEDSTROM buy 5 M 51 12 month 01.12.2010RBS JASON MABEE hold 3 M 43 12 month 30.11.2010CLSA Asia Pacific Markets DI M BROOKMAN underperform 1 M 43 Not Provided 30.11.2010Intersuisse Ltd NICK WIRUBOV buy 5 N 51 Not Provided 10.11.2010Hartleys DAVID WALL buy 5 M 57 12 month 24.02.2010
Woolworths Limited operates supermarkets, specialty and discount department
stores, liquor and electronics stores throughout Australia. Woolworths alsomanufactures processed foods, exports and wholesales food and offers petrolretailing. The Company also operates hotels which includes pubs, food,accommodation, and gaming operations.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (08.10.2010) 30.1852-Week Low (09.08.2011) 23.70Daily Volume
EBITDA 4'051.10 Long-Term Rating Date 27.05.2005EBIT 3'193.20 Long-Term Rating A-Operating Margin 5.90% Long-Term Outlook STABLEPretax Margin 5.57% Short-Term Rating Date 27.05.2005Return on Assets 10.73% Short-Term Rating A-2Return on Common Equity 28.01%Return on Capital 19.43% EBITDA/Interest Exp. 12.18Asset Turnover 2.74% (EBITDA-Capex)/Interest Exp. 5.80
Net Debt/EBITDA 0.82Gross Margin 25.8% Total Debt/EBITDA 1.20EBITDA Margin 7.5%EBIT Margin 5.9% Total Debt/Equity 63.8%Net Income Margin 3.9% Total Debt/Capital 38.2%
Asset Turnover 2.74Current Ratio 0.80 Net Fixed Asset Turnover 6.66Quick Ratio 0.32 Accounts receivable turnover-days 4.50Debt to Assets 22.97% Inventory Days 32.50Tot Debt to Common Equity 63.81% Accounts Payable Turnover Day 43.72Accounts Receivable Turnover 80.82 Cash Conversion Cycle -6.72Inventory Turnover 11.20
Fiscal Year Ended
Woolworths LtdPrice/Volume
Valuation Analysis
2'060'411.00Current Price (9/dd/yy) Market Data
Net IncomeP/E
Market Capitalization
Average Daily Trading VolumeRelative Stock Price Performance
Total RevenueTEV/Revenue
EBITDATEV/EBITDA
Profitability S&P Issuer Ratings
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse GRANT SALIGARI outperform 5 M 34 Not Provided 04.02.2011Deutsche Bank ALEXI BAKER-MCLENNAN hold 3 M 30 12 month 03.02.2011Nomura DAVID COOKE neutral 3 M 30 Not Provided 02.02.2011Macquarie GREG DRING outperform 5 M 32 12 month 25.01.2011UBS BEN GILBERT buy 5 U 30 12 month 24.01.2011JPMorgan SHAUN COUSINS overweight 5 M 29 12 month 24.01.2011Goldman Sachs & Partners Australia PHILLIP KIMBER hold 3 M 32 Not Provided 24.01.2011Commonwealth Bank ANDREW MCLENNAN hold 3 M 30 12 month 24.01.2011Paterson Securities RUSSELL WRIGHT hold 3 M 27 12 month 24.01.2011RBS DANIEL BROEREN hold 3 M 29 12 month 12.01.2011Morgan Stanley THOMAS KIERATH Overwt/In-Line 5 M 32 12 month 11.01.2011Citi CRAIG WOOLFORD buy 5 M 32 Not Provided 15.10.2010Evans & Partners Pty Ltd TONY WILSON Positive 4 M #N/A N/A Not Provided 23.08.2010CLSA Asia Pacific Markets JAMES PATERSON outperform 5 N 30 Not Provided 28.05.2010
WorleyParsons Limited provides professional services through alliance and
integrated service contracts to the energy, resource and complex processindustries. The Company provides its services to industrial sectors such as oiland gas refining, petrochemicals and chemicals, minerals and metals, power andwater and industrial and infrastructure.
Latest Fiscal Year: 06/2011LTM as of: 01/yy52-Week High (11.04.2011) 33.6152-Week Low (09.08.2011) 21.13Daily Volume
EBITDA 532.10 Long-Term Rating Date -EBIT 436.40 Long-Term Rating -Operating Margin 7.79% Long-Term Outlook -Pretax Margin 8.89% Short-Term Rating Date -Return on Assets 9.77% Short-Term Rating -Return on Common Equity 19.84%Return on Capital 16.27% EBITDA/Interest Exp. 11.18Asset Turnover 1.50% (EBITDA-Capex)/Interest Exp. 10.29
Net Debt/EBITDA 0.97Gross Margin - Total Debt/EBITDA 1.27EBITDA Margin 9.5%EBIT Margin 7.8% Total Debt/Equity 36.7%Net Income Margin 6.5% Total Debt/Capital 26.7%
Asset Turnover 1.50Current Ratio 1.53 Net Fixed Asset Turnover 50.02Quick Ratio 0.81 Accounts receivable turnover-days 45.94Debt to Assets 17.70% Inventory Days -Tot Debt to Common Equity 36.68% Accounts Payable Turnover Day -Accounts Receivable Turnover 7.95 Cash Conversion Cycle -Inventory Turnover -
Profitability S&P Issuer Ratings
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Structure
Net IncomeP/E
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Total RevenueTEV/Revenue
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Fiscal Year Ended
WorleyParsons LtdPrice/Volume
Valuation Analysis
1'249'711.00Current Price (9/dd/yy) Market Data
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Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Citi GUY ROBINSON hold 3 M 31 Not Provided 07.02.2011CLSA Asia Pacific Markets MARK SAMTER buy 5 M 33 Not Provided 03.02.2011Deutsche Bank CRAIG WONGPAN hold 3 M 29 12 month 31.01.2011Austock Securities CRAIG STRANGER hold 3 M 27 Not Provided 17.01.2011RBS ANDREW HODGE hold 3 M 27 12 month 06.01.2011Gleacher & Company WILL GABRIELSKI buy 5 M 27 12 month 27.12.2010Macquarie JOHN PURTELL outperform 5 M 24 12 month 20.12.2010Credit Suisse CHRIS COUNIHAN underperform 1 M 26 Not Provided 23.11.2010Paterson Securities GEORGE GALANOPOULOS hold 3 D 26 12 month 12.11.2010JPMorgan ALISTAIR REID neutral 3 M 21 12 month 26.10.2010Goldman Sachs & Partners Australia CHRIS SAVAGE hold 3 M 26 Not Provided 26.10.2010E.L. & C. Baillieu SAM HADDAD accumulate 4 M 25 12 month 26.10.2010