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| Symbol | Price | Change | % Chg |
| MSFT | 35.18 | 0.10 | 0.29% |
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Fund prices are from Morningstar. |
Click here for extended past quarterly financial data. Link to Articles
Check the Fair Value List tab for current updates to Fair Values. Information is provided "as is", solely for informational purposes, not for trading purposes or advice. Please read disclaimer - link at the bottom of this page
Graphs reflect the one time non-cash, non-tax-deductible income statement charge of $6.19 billion for the impairment of goodwill in June 2012. | |
| | Microsoft Corporation-Entry target below-$26.1 | MSFT | | | | | Microsoft Corporation develops, licenses, and supports software products and services; and designs and sells hardware worldwide. The companys Windows & Windows Live division offers PC operating system that primarily includes Windows 7 operating system, Windows live suite of applications and Web services, and PC hardware products. Its Server and Tools division provides Windows Server operating systems, Windows Azure; Microsoft SQL Server, SQL Azure, Windows Intune, Windows Embedded, Visual Studio, Silverlight, system center products, Microsoft consulting services, and Premier product support services. This division also offers cloud-based services; and training and certification to developers and information technology professionals, as well as builds standalone and software development lifecycle tools for software architects, developers, testers, and project managers. The companys Online Services division provides online information and content, including Bing, MSN, adCenter, and Atlas online tools for advertisers. Its Microsoft Business division offers Microsoft office, Microsoft Exchange, Microsoft SharePoint, Microsoft Lync, Microsoft Office project and office Visio, and Microsoft Dynamics ERP and CRM, as well as Microsoft Office Web Apps and Microsoft Office 365, which are online service offerings. The companys Entertainment and Devices Division segment provides Xbox 360 entertainment platform, which includes the Xbox 360 gaming and entertainment console, Kinect for Xbox 360, Xbox 360 video games, and Xbox 360 accessories; Xbox LIVE; Skype; and Windows Phone. Microsoft Corporation markets and distributes its products and services primarily through original equipment manufacturers, distributors, and resellers, as well as through online. The company has strategic alliances with Nokia, and NIIT Ltd., as well as a strategic relationship Dominion Enterprises, Inc. Microsoft Corporation was founded in 1975 and is based in Redmond, Washington. | | This page Last Updated: | 4/23/2013 12:17 | | | PE HISTORY | | Calculated Fair Value as of above date | $35.7 | Zacks | MorningStar | (based on yr end price) | | Price as of last update given above | $30.78 | 4 | 4 | fiscal year | PE | | | Current discount at time of update | 13.8% | | | 2008 | 13.1 | | | Tangible book value/share per IIEX calcs | $6.47 | | | 2009 | 13.4 | | | Market Cap (million) | $256,798 | | | 2010 | 10.2 | | | Forward diluted shares used in calcs (million) | 8429.0 | | | 2011 | 9.2 | | | Diviidend yield | 2.99% | | | 2012 | 14.9 | | | Payout to FCF | 28% | | | current | 15.7 | 4/23/2013 | | Estimated 5 year EPS growth (see below) | 4.65% | | | Forward | 11.6 | 4/23/2013 | | Current PE | 15.8 | | | 4 year ave | 5.0 | 4/23/2013 | | Fair Value PE | 13.5 | | | Past 5 yr Growth Rates | | | Projected FCF growth | 7.6% | | | Revenue | 7.6% | | | Projected FCF growth after year 10 | 2.0% | | | Op. Income | 2.2% | | | DCF discount | 10% | | | FCF | 12.8% | | | DCF MOS | 35.0% | | | | | | | Current Earnings-Projected | $2.64 | Check the Value Calcs tab for any updates in fair values and target prices made after this page was last updated. | | 52 Week Range | 26.26-32.52 | | Current Ratio | 2.93 | | Liab./ Equity | 0.75 | | Piotroski Score (last year| TTM) | 6 | 6 | | | | | | | Altman Z Score (non-manufacturer) | 9.17 | 1.00 | Below numbers in millions | | | Data sources: Advfn; Yahoo; IIEX, MSN, Zacks, Morning Star | | Quarterly data below the yearly data | | Fiscal year ends - Jun | | | | | PAST DATA USED | 0 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | TTM | | Income Statement-Selected financials | NA=not available at update | 0 | 0 | 0 | 0 | 0 | 6/30/2008 | 6/30/2009 | 6/30/2010 | 6/30/2011 | 6/30/2012 | 0 | Revenues | Revenue | $32,187.0 | $36,835.0 | $39,788.0 | $44,282.0 | $51,122.0 | $60,420.0 | $58,437.0 | $62,484.0 | $69,943.0 | $73,723.0 | $76,012.0 | COGS | $5,686.0 | $6,716.0 | $6,200.0 | $7,650.0 | $10,693.0 | $11,598.0 | $12,155.0 | $12,395.0 | $15,577.0 | $17,530.0 | $18,810.0 | COGS (%) | 17.7% | 18.2% | 15.6% | 17.3% | 20.9% | 19.2% | 20.8% | 19.8% | 22.3% | 23.8% | 24.7% | Gross Profit | $26,501.0 | $30,119.0 | $33,588.0 | $36,632.0 | $40,429.0 | $48,822.0 | $46,282.0 | $50,089.0 | $54,366.0 | $56,193.0 | $57,202.0 | Gross Profit (%) | 82.3% | 81.8% | 84.4% | 82.7% | 79.1% | 80.8% | 79.2% | 80.2% | 77.7% | 76.2% | 75.3% | Operating Expenses | SG&A | $8,625.0 | $13,306.0 | $12,843.0 | $13,576.0 | $14,784.0 | $18,166.0 | $16,909.0 | $17,277.0 | $18,162.0 | $18,426.0 | $19,904.0 | SG&A (%) | 26.8% | 36.1% | 32.3% | 30.7% | 28.9% | 30.1% | 28.9% | 27.7% | 26.0% | 25.0% | 26.2% | R&D | $4,659.0 | $7,779.0 | $6,184.0 | $6,584.0 | $7,121.0 | $8,164.0 | $9,010.0 | $8,714.0 | $9,043.0 | $9,811.0 | $10,222.0 | R&D (%) | 14.5% | 21.1% | 15.5% | 14.9% | 13.9% | 13.5% | 15.4% | 13.9% | 12.9% | 13.3% | 13.4% | Other (Inc. D&A) | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $6,193.0 | $6,193.0 | Other (%) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 8.4% | 8.1% | Operating Income | $13,217.0 | $9,034.0 | $14,561.0 | $16,472.0 | $18,524.0 | $22,492.0 | $20,363.0 | $24,098.0 | $27,161.0 | $21,763.0 | $20,883.0 | Operating Income (%) | 41.1% | 24.5% | 36.6% | 37.2% | 36.2% | 37.2% | 34.8% | 38.6% | 38.8% | 29.5% | 27.5% | Other Income and
Expense | Net i Inc,other &charges | $1,697.0 | $0.0 | $0.0 | $0.0 | $1,319.0 | $888.0 | $706.0 | $692.0 | $605.0 | $420.0 | $586.0 | Earnings Before Taxes | $14,726.0 | $12,196.0 | $16,628.0 | $18,262.0 | $20,101.0 | $23,814.0 | $19,821.0 | $25,013.0 | $28,071.0 | $22,267.0 | $21,266.0 | Income Taxes | $4,733.0 | $4,028.0 | $4,374.0 | $5,663.0 | $6,036.0 | $6,133.0 | $5,252.0 | $6,253.0 | $4,921.0 | $5,289.0 | $4,860.0 | Earnings After Taxes | $9,993.0 | $8,168.0 | $12,254.0 | $12,599.0 | $14,065.0 | $17,681.0 | $14,569.0 | $18,760.0 | $23,150.0 | $16,978.0 | $16,406.0 | Acctg Changes | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | Disc Operations | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | Ext Items | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | Net Income | Net Income | $9,993.0 | $8,168.0 | $12,254.0 | $12,599.0 | $14,065.0 | $17,681.0 | $14,569.0 | $18,760.0 | $23,150.0 | $16,978.0 | $16,406.0 | Net Income (%) | 31.0% | 22.2% | 30.8% | 28.5% | 27.5% | 29.3% | 24.9% | 30.0% | 33.1% | 23.0% | 21.6% | Diluted EPS, Cont Ops | $0.92 | $0.75 | $1.12 | $1.20 | $1.42 | $1.87 | $1.62 | $2.10 | $2.69 | $2.00 | $1.95 | Diluted EPS - adjusted | $0.92 | $0.75 | $1.12 | $1.20 | $1.42 | $1.87 | $1.62 | $2.10 | $2.69 | $2.00 | $1.96 | Shares | 10882 | 10894 | 10906 | 10531 | 9886 | 9470 | 8996 | 8927 | 8593 | 8506 | 8429 | Balance Sheet | 0 | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ 8,506.0 | $ 8,429.0 | Assets | Cash and Equiv | $6,438.0 | $15,982.0 | $4,851.0 | $6,714.0 | $6,111.0 | $10,339.0 | $6,076.0 | $5,505.0 | $9,610.0 | $6,938.0 | $5,240.0 | Short-Term Investments | $42,610.0 | $44,610.0 | $32,900.0 | $27,447.0 | $17,300.0 | $13,323.0 | $25,371.0 | $31,283.0 | $43,162.0 | $56,102.0 | $69,243.0 | Accts Rec | $5,196.0 | $5,890.0 | $7,180.0 | $9,316.0 | $11,338.0 | $13,589.0 | $11,192.0 | $13,014.0 | $14,987.0 | $15,780.0 | $11,991.0 | Inventory | $640.0 | $421.0 | $491.0 | $1,478.0 | $1,127.0 | $985.0 | $717.0 | $740.0 | $1,372.0 | $1,137.0 | $2,133.0 | Other Current Assets | $1,583.0 | $1,566.0 | $1,614.0 | $2,115.0 | $2,393.0 | $2,989.0 | $3,711.0 | $2,950.0 | $3,320.0 | $3,092.0 | $3,241.0 | Total Current Assets | $58,973.0 | $70,566.0 | $48,737.0 | $49,010.0 | $40,168.0 | $43,242.0 | $49,280.0 | $55,676.0 | $74,918.0 | $85,084.0 | $93,524.0 | Net PP&E | $2,223.0 | $2,326.0 | $2,346.0 | $3,044.0 | $4,350.0 | $6,242.0 | $7,535.0 | $7,630.0 | $8,162.0 | $8,269.0 | $9,204.0 | Intangibles/Goodwill | $3,512.0 | $3,684.0 | $3,808.0 | $539.0 | $878.0 | $1,973.0 | $1,759.0 | $1,158.0 | $744.0 | $3,170.0 | $3,240.0 | Other Long-Term Assets | $14,863.0 | $15,813.0 | $15,924.0 | $17,004.0 | $17,775.0 | $21,336.0 | $19,314.0 | $21,649.0 | $24,880.0 | $24,748.0 | $28,137.0 | Total Assets | $79,571.0 | $92,389.0 | $70,815.0 | $69,597.0 | $63,171.0 | $72,793.0 | $77,888.0 | $86,113.0 | $108,704.0 | $121,271.0 | $134,105.0 | Liabilities & Equity | Accts Payable | $1,573.0 | $1,717.0 | $2,086.0 | $2,909.0 | $3,247.0 | $4,034.0 | $5,008.0 | $4,207.0 | $5,405.0 | $4,989.0 | $5,096.0 | Short-Term Debt | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $2,000.0 | $1,000.0 | $0.0 | $1,231.0 | $2,246.0 | Taxes Payable | $0.0 | $0.0 | $0.0 | $1,557.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | Accrued Liabilities | $1,416.0 | $1,339.0 | $1,662.0 | $1,938.0 | $2,325.0 | $2,934.0 | $3,156.0 | $3,283.0 | $3,575.0 | $3,875.0 | $3,474.0 | Other Short-Term Liabilities | $3,760.0 | $5,399.0 | $5,627.0 | $6,900.0 | $7,403.0 | $9,521.0 | $3,867.0 | $4,005.0 | $4,072.0 | $3,940.0 | $4,602.0 | Total Current Liabilities | $13,974.0 | $14,969.0 | $16,877.0 | $22,442.0 | $23,754.0 | $29,886.0 | $27,034.0 | $26,147.0 | $28,774.0 | $32,688.0 | $31,929.0 | Long-Term Debt | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $3,746.0 | $4,939.0 | $11,921.0 | $10,713.0 | $11,949.0 | Other Long-Term Liabilities | $4,577.0 | $2,595.0 | $5,823.0 | $7,051.0 | $8,320.0 | $6,621.0 | $7,550.0 | $8,852.0 | $10,926.0 | $11,507.0 | $13,539.0 | Total Liabilities | $18,551.0 | $17,564.0 | $22,700.0 | $29,493.0 | $32,074.0 | $36,507.0 | $38,330.0 | $39,938.0 | $51,621.0 | $54,908.0 | $57,417.0 | Total Equity | $61,020.0 | $74,825.0 | $48,115.0 | $40,104.0 | $31,097.0 | $36,286.0 | $39,558.0 | $46,175.0 | $57,083.0 | $66,363.0 | $76,688.0 | Total Liabilities & Equity | $79,571.0 | $92,389.0 | $70,815.0 | $69,597.0 | $63,171.0 | $72,793.0 | $77,888.0 | $86,113.0 | $108,704.0 | $121,271.0 | $134,105.0 | Cash Flow Data | 0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | Cash Flows From
Operating Activities | Net Income | $9,993.0 | $8,168.0 | $12,254.0 | $12,599.0 | $14,065.0 | $17,681.0 | $14,569.0 | $18,760.0 | $23,150.0 | $16,978.0 | $16,406.0 | Depr & Amort | $1,439.0 | $1,186.0 | $855.0 | $903.0 | $1,440.0 | $2,056.0 | $2,562.0 | $2,673.0 | $2,766.0 | $2,967.0 | $3,569.0 | Deferred Taxes | $336.0 | ($1,479.0) | ($179.0) | $219.0 | $421.0 | $935.0 | $762.0 | ($220.0) | $2.0 | $954.0 | $1,076.0 | Other | $4,029.0 | $6,751.0 | $3,675.0 | $683.0 | $1,870.0 | $940.0 | $1,144.0 | $2,860.0 | $1,076.0 | $10,727.0 | $9,556.0 | Cash from Operations | $15,797.0 | $14,626.0 | $16,605.0 | $14,404.0 | $17,796.0 | $21,612.0 | $19,037.0 | $24,073.0 | $26,994.0 | $31,626.0 | $30,607.0 | Cash Flows From
Investing Activities | Cap Ex | ($891.0) | ($1,109.0) | ($812.0) | ($1,578.0) | ($2,264.0) | ($3,182.0) | ($3,119.0) | ($1,977.0) | ($2,355.0) | ($2,305.0) | ($3,085.0) | Purchase of Business | ($1,063.0) | ($4.0) | ($207.0) | ($649.0) | ($1,150.0) | ($8,053.0) | ($868.0) | ($245.0) | ($71.0) | ($10,112.0) | ($2,090.0) | Other | ($5,259.0) | ($1,632.0) | $16,046.0 | $10,230.0 | $9,503.0 | $6,648.0 | ($11,783.0) | ($9,092.0) | ($12,190.0) | ($12,369.0) | ($17,459.0) | Cash from Investing | ($7,213.0) | ($2,745.0) | $15,027.0 | $8,003.0 | $6,089.0 | ($4,587.0) | ($15,770.0) | ($11,314.0) | ($14,616.0) | ($24,786.0) | ($22,634.0) | Cash Flows From
Financing Activities | Net Issuance of Stock | ($4,366.0) | ($635.0) | ($4,948.0) | ($17,106.0) | ($20,793.0) | ($9,039.0) | ($8,722.0) | ($8,958.0) | ($9,133.0) | ($3,116.0) | ($4,305.0) | Net Issuance of Debt | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $5,746.0 | $1,181.0 | $5,960.0 | $0.0 | $0.0 | Dividends | ($857.0) | ($1,729.0) | ($36,112.0) | ($3,545.0) | ($3,805.0) | ($4,015.0) | ($4,468.0) | ($4,578.0) | ($5,180.0) | ($6,385.0) | ($7,212.0) | Other | $0.0 | $0.0 | ($18.0) | $89.0 | $54.0 | $120.0 | ($19.0) | ($936.0) | ($23.0) | $93.0 | $185.0 | Cash from Financing | ($5,223.0) | ($2,364.0) | ($41,078.0) | ($20,562.0) | ($24,544.0) | ($12,934.0) | ($7,463.0) | ($13,291.0) | ($8,376.0) | ($9,408.0) | ($9,100.0) | Free Cash Flow | Currency Adj | $61.0 | $27.0 | ($7.0) | $18.0 | $56.0 | $137.0 | ($67.0) | ($39.0) | $103.0 | ($104.0) | ($21.0) | Change in Cash | $3,422.0 | $9,544.0 | ($9,453.0) | $1,863.0 | ($603.0) | $4,228.0 | ($4,263.0) | ($571.0) | $4,105.0 | ($2,672.0) | ($1,148.0) | Cash from Operations | $15,797.0 | $14,626.0 | $16,605.0 | $14,404.0 | $17,796.0 | $21,612.0 | $19,037.0 | $24,073.0 | $26,994.0 | $31,626.0 | $30,607.0 | Cap Ex | ($891.0) | ($1,109.0) | ($812.0) | ($1,578.0) | ($2,264.0) | ($3,182.0) | ($3,119.0) | ($1,977.0) | ($2,355.0) | ($2,305.0) | ($3,085.0) | Free Cash Flow | $14,906.0 | $13,517.0 | $15,793.0 | $12,826.0 | $15,532.0 | $18,430.0 | $15,918.0 | $22,096.0 | $24,639.0 | $29,321.0 | $27,522.0 | Misc Data | Book Value Per Share | $5.61 | $6.87 | $4.41 | $3.81 | $3.15 | $3.83 | $4.40 | $5.17 | $6.64 | $7.80 | $9.10 | Div/Share | ($0.08) | ($0.16) | ($3.31) | ($0.34) | ($0.38) | ($0.42) | ($0.50) | ($0.51) | ($0.60) | ($0.75) | ($0.86) | Year end stock price | $20.84 | $22.86 | $22.72 | $26.15 | $31.76 | $24.48 | $21.66 | $21.37 | $24.73 | $29.89 | $30.78 | PE | 22.7 | 30.5 | 20.3 | 21.8 | 22.4 | 13.1 | 13.4 | 10.2 | 9.2 | 14.9 | 15.8 | Free Cash Flow %Revenue | 46.3% | 36.7% | 39.7% | 29.0% | 30.4% | 30.5% | 27.2% | 35.4% | 35.2% | 39.8% | 36.2% | Quarterly Income Statement | | 2013/03 | 2012/12 | 2012/09 | 2012/06 | | | | | | | | Revenues | Revenue | $20,489.0 | $21,456.0 | $16,008.0 | $18,059.0 | | | | | | | | COGS | $4,787.0 | $5,692.0 | $4,168.0 | $4,163.0 | | | | | | | | Gross Profit | $15,702.0 | $15,764.0 | $11,840.0 | $13,896.0 | | | | | | | | Operating Expenses | SG&A | $5,450.0 | $5,465.0 | $4,072.0 | $4,917.0 | | | | | | | | R&D | $2,640.0 | $2,528.0 | $2,460.0 | $2,594.0 | | | | | | | | Other | $0.0 | $0.0 | $0.0 | $6,193.0 | | | | | | | | Operating Income | $7,612.0 | $7,771.0 | $5,308.0 | $192.0 | | | | | | | | Other Income and
Expense | Net Int Inc & Other | $41.0 | $61.0 | $64.0 | $420.0 | | | | | | | | Earnings Before Taxes | $7,603.0 | $7,770.0 | $5,534.0 | $359.0 | | | | | | | | Income Taxes | $1,548.0 | $1,393.0 | $1,068.0 | $851.0 | | | | | | | | Earnings After Taxes | $6,055.0 | $6,377.0 | $0.0 | ($17,470.0) | | | | | | | | Acctg Changes | $0.0 | $0.0 | $0.0 | $0.0 | | | | | | | | Disc Operations | $0.0 | $0.0 | $0.0 | $0.0 | | | | | | | | Ext Items | $0.0 | $0.0 | $0.0 | $0.0 | | | | | | | | Net Income | Net Income | $6,055.0 | $6,377.0 | $4,466.0 | ($492.0) | | | | | | | | Diluted EPS, Cont Ops$ | $0.72 | $0.76 | $0.53 | -$0.05 | | | | | | | | Diluted EPS$ | $0.72 | $0.76 | $0.53 | -$0.05 | | | | | | | | | | | | | | | | | | | | | Quarterly Cash Flow Data | (#'s are cummulative) | 2013/03 | 2012/12 | 2012/09 | 2012/06 | 2012/03 | | | | | | | Cash Flows From
Operating Activities | Depr & Amort | $2,772.0 | $1,719.0 | $710.0 | $2,967.0 | $2,170.0 | | | | | | | Deferred Taxes | $404.0 | $178.0 | $38.0 | $954.0 | $282.0 | | | | | | | Other | $2,856.0 | $524.0 | $3,270.0 | $10,727.0 | $4,027.0 | | | | | | | Cash from Operations | $22,930.0 | $13,264.0 | $8,484.0 | $31,626.0 | $23,949.0 | | | | | | | Cash Flows From
Investing Activities | Cap Ex | ($2,463.0) | ($1,533.0) | ($603.0) | ($2,305.0) | ($1,683.0) | | | | | | | Purchase of Business | ($1,564.0) | ($1,456.0) | ($1,145.0) | ($10,112.0) | ($9,586.0) | | | | | | | Other | ($13,945.0) | ($7,323.0) | ($5,971.0) | ($12,369.0) | ($8,855.0) | | | | | | | Cash from Investing | ($17,972.0) | ($10,312.0) | ($7,719.0) | ($24,786.0) | ($20,124.0) | | | | | | | Cash Flows From
Financing Activities | Net Issuance of Stock | ($3,553.0) | ($2,728.0) | ($1,215.0) | ($3,116.0) | ($2,364.0) | | | | | | | Net Issuance of Debt | $2,232.0 | $2,232.0 | $0.0 | $0.0 | $0.0 | | | | | | | Dividends | ($5,534.0) | ($3,609.0) | ($1,676.0) | ($6,385.0) | ($4,707.0) | | | | | | | Other | $176.0 | $170.0 | $177.0 | $93.0 | $84.0 | | | | | | | Cash from Financing | ($6,679.0) | ($3,935.0) | ($2,714.0) | ($9,408.0) | ($6,987.0) | | | | | | | | Currency Adj | $23.0 | $62.0 | $47.0 | ($104.0) | ($60.0) | | | | | | | Change in Cash | ($1,698.0) | ($921.0) | ($1,902.0) | ($2,672.0) | ($3,222.0) | | | | | | | Net Income - per year or Qtr | $6,055.0 | $6,377.0 | $4,466.0 | ($492.0) | $5,108.0 | | | | | | | Net Income - cumm per FY | $16,898.0 | $10,843.0 | $4,466.0 | $16,978.0 | $17,470.0 | | | | | | | Free Cash Flow | FCF | $20,467.0 | $11,731.0 | $7,881.0 | $29,321.0 | $22,266.0 | | | | | | | FCF/Share | $2.43 | $1.39 | $0.93 | $3.48 | $2.64 | | | | | | | | | | | | | | | | | | | | | | Additional analysis information - see notes below | | | | | | | | | | | | | Earnings Growth information | | Year | 3yr op income average (y) | Operating income (y) | Diluted EPS - cont. ops. | | | Year | 3yr op income average (y) | Operating income (y) | Diluted EPS - cont. ops. | | | | | 2005 | 12271 | 14561 | 1.12 | 10 year trend data | | 2005 | 12271 | 14561 | 1.12 | Actural | | | | 2006 | 13356 | 16472 | 1.20 | | 2006 | 13356 | 16472 | 1.20 | | Past EPS Growth using averages - info only | 2007 | 16519 | 18524 | 1.42 | | 2007 | 16519 | 18524 | 1.42 | | 5.34% | 5 yr ave | 2008 | 19163 | 22492 | 1.87 | | 2008 | 19163 | 22492 | 1.87 | | 3.54% | 4 yr ave | 2009 | 20460 | 20363 | 1.62 | | 2009 | 20460 | 20363 | 1.62 | | 0.56% | 3 yr ave | 2010 | 22318 | 24098 | 2.10 | 5 year trend data | 2010 | 22318 | 24098 | 2.10 | | -3.90% | 2 yr ave | 2011 | 23874 | 27161 | 2.69 | 2011 | 23874 | 27161 | 2.69 | | calculates the statistics for a trend line by using the "least squares" method to calculate a straight line that best fits the data, and then returns an array that describes the trend line. Projections are an extension of the historical data based on 10 and 5 year trends. Also applies to the FCF section. | 2012 | 24341 | 21763 | 2.00 | 2012 | 24341 | 21763 | 2.00 | | 2013 | 25436 | 27383 | 2.75 | 2013 | 25436 | 27383 | 2.75 | Estimates | | 2014 | 26671 | 30868 | 3.10 | EPS based | on %USED | 2014 | 26671 | 30868 | 3.10 | | 2015 | 29416 | 30937 | 3.14 | $3.01 | 2015 | 27608 | 30383 | 3.05 | Projections | | 2016 | 31048 | 32495 | 3.35 | $3.15 | 2016 | 28635 | 31759 | 3.19 | | 2017 | 32680 | 34053 | 3.56 | $3.30 | 2017 | 29662 | 33135 | 3.33 | | 2018 | 34312 | 35611 | 3.76 | $3.45 | 2018 | 30689 | 34511 | 3.47 | | | | 10 year analysis | 6.00% | 4.70% | 7.25% | | | 5 year analysis | 3.83% | 4.74% | 4.74% | Blended 10 & 5 yr EPS | | | | | From MSN or NASDAQ | 9.70% | From Yahoo | 8.65% | USED | 4.65% | | 5.99% | | | | | | | | | | | | | | | | FCF & operating cash Growth information | | Year | 10 yr FCF trend projection | 5 yr FCF trend projection | 3 yr FCF trend projection | | | Year | 10 yr op cash trend projection | 5 yr op cash trend projection | 3 yr op cash trend projection | | | | Actual Data | 2003 | 14906 | 14906 | 14906 | | Actual Data | 2003 | 15797 | 15797 | 15797 | | | | 2004 | 13517 | 13517 | 13517 | | 2004 | 14626 | 14626 | 14626 | | | | 2005 | 15793 | 15793 | 15793 | | 2005 | 16605 | 16605 | 16605 | | | | 2006 | 12826 | 12826 | 12826 | | 2006 | 14404 | 14404 | 14404 | | | | 2007 | 15532 | 15532 | 15532 | | 2007 | 17796 | 17796 | 17796 | | | | 2008 | 18430 | 18430 | 18430 | | 2008 | 21612 | 21612 | 21612 | | | | 2009 | 15918 | 15918 | 15918 | | 2009 | 19037 | 19037 | 19037 | | | | 2010 | 22096 | 22096 | 22096 | | 2010 | 24073 | 24073 | 24073 | 2012-2016 | | | 2011 | 24639 | 24639 | 24639 | | 2011 | 26994 | 26994 | 26994 | Blended | | | 2012 | 29321 | 29321 | 29321 | FCF USED | 2012 | 31626 | 31626 | 31626 | 4.66% | | Manual are projections from research not the least squares method as decscribed above | Manual | 2013 | 27522 | 27522 | 27522 | Manual | 2013 | 30607 | 30607 | 30607 | 2013-2016 | | | 2014 | 28505 | 31487 | 31135 | 29623 | Possible projections | 2014 | 31769 | 34224 | 34384 | Blended | | | 2015 | 30067 | 33738 | 33231 | 31884 | 2015 | 33530 | 36672 | 36807 | 7.77% | | Projections | 2016 | 31628 | 36420 | 35709 | 34318 | 2016 | 35292 | 39119 | 39230 | | | | | Calc FCF Growth | 10 yr calc | 5 yr calc | 3yr calc | | | Calc Op.Cash Growth | 10 yr calc | 5 yr calc | 3yr calc | Ave weighting | | | | 9.45% | 8.13% | 9.06% | | 9.38% | 7.70% | 8.62% | 8.44% | | | Adjusted Trend | 7.63% | 0.00% | USED | 7.63% | | 2012-2016 | 2.78% | 5.46% | 5.53% | | | | | | | | | | | | | | | | FCF & operating cash Growth information per share | | Year | 10 yr FCF trend projection | 5 yr FCF trend projection | 3 yr FCF trend projection | | | Year | 10 yr op cash trend projection | 5 yr op cash trend projection | 3 yr op cash trend projection | | | | | 2003 | 1.37 | 1.37 | 1.37 | Actual Data | 2003 | 1.45 | 1.45 | 1.45 | | | | | 2004 | 1.24 | 1.24 | 1.24 | 2004 | 1.34 | 1.34 | 1.34 | | | | | 2005 | 1.45 | 1.45 | 1.45 | 2005 | 1.52 | 1.52 | 1.52 | | | | | 2006 | 1.22 | 1.22 | 1.22 | 2006 | 1.37 | 1.37 | 1.37 | | | | | 2007 | 1.57 | 1.57 | 1.57 | 2007 | 1.80 | 1.80 | 1.80 | | | | | 2008 | 1.95 | 1.95 | 1.95 | 2008 | 2.28 | 2.28 | 2.28 | | | | | 2009 | 1.77 | 1.77 | 1.77 | 2009 | 2.12 | 2.12 | 2.12 | | | | | 2010 | 2.48 | 2.48 | 2.48 | 2010 | 2.70 | 2.70 | 2.70 | | | | | 2011 | 2.87 | 2.87 | 2.87 | 2011 | 3.14 | 3.14 | 3.14 | | | | | 2012 | 3.45 | 3.45 | 3.45 | 2012 | 3.72 | 3.72 | 3.72 | | | | | 2013 | 3.27 | 3.27 | 3.27 | 2013-2016 | | 2013 | 3.63 | 3.63 | 3.63 | 2013-2016 | | | | 2014 | 3.42 | 3.77 | 3.73 | 9.55% | | 2014 | 3.81 | 4.10 | 4.12 | 8.88% | | | | 2015 | 3.64 | 4.09 | 4.02 | 2012-2016 | | 2015 | 4.06 | 4.44 | 4.46 | 2012-2016 | | | | 2016 | 3.87 | 4.46 | 4.37 | 5.71% | | 2016 | 4.32 | 4.79 | 4.80 | 6.03% | | | | Proj FCF Growth | 10 yr calc | 5 yr calc | 3yr calc | Ave | | Proj Op.Cash Growth | 10 yr calc | 5 yr calc | 3yr calc | Ave | | | | 12.26% | 9.22% | 10.19% | 10.21% | | 12.19% | 8.79% | 9.75% | 9.84% | | The USED earnings and FCF growthrates are determined based on several sources which may include but may not be limited to the percentages generated through the model (used as a starting point) various third party analyst reports, conference call transcripts, etc. | |
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