Morningstar Catalog 2010/2011 - (Page 69)
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Ibbotson Cost of Capital Resources Center Essential online valuation resources.
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3 On-demand library of research with
more than 160,000 downloadable reports
3 Custom peer groups for specialized
industry analysis The Ibbotson Cost of Capital Resources Center is a convenient online portal to more than 160,000 downloadable Ibbotson reports. Available as individual modules or as a complete system, this resource provides immediate access to current and historical reports on 350 industries and 10,000 companies in the United States.
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Data as of June 30, 2010
SIC 2
Sales (mil$)
Total Average
Three Largest Companies
Total Capital (mil$)
1,657,130.28 3,792.06 Total Average
Three Largest Companies
Number of Companies: 437 Manufacturing
2,191,890.90 5,015.77
Industry Description Food and kindred products; tobacco products; textile mill products; apparel and other finished products made from fabrics and similar materials; lumber and wood products; furniture and fixtures; paper and allied products; printing, publishing, and allied industries, chemicals and allied products; petroleum refining and related industries.
ExxonMobil Corporation Chevron Corporation ConocoPhillips Three Smallest Compaines Hemispherx Biopharma, Inc. Dendreon Corporation Cadus Corporation
310,586.00 171,636.00 152,840.00
ExxonMobil Corporation Pfizer Inc. Chevron Corporation Three Smallest Compaines ADM Tronics Unlimited, Inc. Mobile Area Networks Inc Human Pheromone Sciences,Inc.
277,722.93 172,746.07 146,820.46
0.11 0.10 0.10
0.75 0.54 0.49
Sales, Income & Market Capitalization (bil$)
Sales 1,657.13 2,195.52 1,892.87 1,743.77 1,661.11
Distribution of Sales & Total Capital (mil$)
Operating Income 168.20 207.11 272.48 261.40 219.12 Net Income 117.31 95.95 146.56 147.85 125.12 Equity Capital 1,886.71 1,784.04 2,366.02 2,260.77 1,991.87 Debt Capital 400.94 360.89 320.16 288.09 273.95 Distribution of Sales Latest 5-Yr Avg 5,175.14 5,393.66 1,244.02 1,249.08 148.27 126.77 15.74 14.77 1.71 1.94 Latest 7,222.36 1,659.51 292.58 74.97 20.21 Total Capital 5-Yr Avg 7,864.19 1,654.30 321.80 92.01 27.50
Current Year Last Year 2 Years Ago 3 Years Ago 4 Years Ago
90th Percentile 75th Percentile Median 25th Percentile 10th Percentile
Growth Over Last 5 Years (%)
Net Sales 7.16 3.46 3.17 -10.41 Operating Income 6.03 -2.63 -2.92 5.87 Net Income 7.81 1.83 1.25 12.50
Compound Annual Equity Return (%)
75th Percentile Median 25th Percentile SIC Composite Large Composite Small Composite 5 Years 5.59 -5.86 -20.11 1.82 1.73 -7.34 10 Years 8.54 -0.98 -14.31 1.72 1.53 -13.37
Annualized Statistics for Last 10 Yrs (%)
Average Return
Median SIC Composite Large Composite Small Composite
S&P 500 SIC Composite Large Composite Small Composite
-0.27 2.54 2.38 -3.05
Std Deviation 16.22 13.01 13.27 51.00
Detailed industry analysis reports explore U.S.based industries by SIC code, with five distinct measures of cost of equity and weighted average cost of capital. Statistics are available for sales, profitability, capitalization, beta, multiples, ratios, industry returns, and capital structure. With Peer Group Builder, valuation professionals can create custom industry reports, tailoring their classifications to include companies across multiple SIC codes. Peer Group Builder produces the same type of reports professionals have relied on for years from the Ibbotson ® Cost of Capital Yearbook. The SBBI Valuation Essentials module highlights information from the Ibbotson ® SBBI ® Valuation Yearbook, including historic long-, intermediate-, and short-horizon risk premia, as well as mid-, low-, and micro-cap size premia. Researchers can tap into beta calculations for approximately 5,000 U.S. companies. Levered and unlevered betas are available, as well as those adjusted by peer group and industry average, with Fama-French three factor model inputs. International cost of capital reports estimate cost of equity and equity risk premia for more than 170 countries.
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Cost of Equity Capital (%)
CAPM 10.38 8.49 8.17 14.46
Betas
CAPM + Size Prem 13.58 9.57 8.17 18.45 3-Factor Fama-French 13.34 7.91 7.29 22.06
1-Stage 16.16 12.46 11.76 15.89
Median SIC Composite Large Composite Small Composite
Discounted Cash Flow 3-Stage 12.50 13.11 13.95 NMF
Levered Raw Beta 1.17 0.71 0.66 1.87
Adjusted Beta 0.99 0.71 0.66 1.60
Unlevered Adjusted Beta 0.79 0.60 0.57 1.57
Weighted Average Cost of Capital (%)
CAPM 9.98 7.78 7.46 14.56
Capital Structure Ratios (%)
CAPM + Size Prem 12.54 8.66 7.46 18.47 3-Factor Fama-French 12.04 7.31 6.73 22.02
1-Stage 14.52 11.03 10.39 15.94
Searchable report libraries. Web-based research modules provide convenient and immediate access to Ibbotson cost of capital and valuation data.
Equity Valuation Ratios (Multiples)
Latest 15.79 16.12 14.23 NMF
Median SIC Composite Large Composite Small Composite
Discounted Cash Flow 3-Stage 11.41 11.56 12.19 NMF
Latest 17.87 18.79 18.06 2.49
Debt/Total Capital 5-Yr Avg 15.98 16.71 15.64 4.70
Latest 21.76 23.13 22.04 2.56
Debt/MV Equity 5-Yr Avg 19.02 20.06 18.54 4.93
Dividend Yield
Median SIC Composite Large Composite Small Composite
Price/Earnings 5-Yr Avg 18.88 16.82 14.70 NMF
Market/Book Latest 5-Yr Avg 2.09 2.55 1.92 2.51 1.84 2.49 8.18 6.56
Latest 1.39 1.08 1.03 223.50
Price/Sales 5-Yr Avg 1.85 1.12 1.08 71.38
Price/Cash Flow Latest 5-Yr Avg 8.13 11.30 9.23 9.65 8.80 9.02 NMF NMF
Price/Oper Income Latest 5-Yr Avg 10.29 12.91 10.64 9.11 9.53 8.14 NMF NMF
(% of Price) Latest 0.00 2.96 3.37 0.00
5-Yr Avg 0.00 2.50 2.69 0.02
Margins (%)
Latest 0.21 10.82 11.41 -2,225.40
Growth Rates
Oper Margin 5-Yr Avg 2.44 13.88 14.94 -1,100.32
Latest -0.91 6.70 7.22 -3,073.03
Median SIC Composite Large Composite Small Composite
Net Margin 5-Yr Avg -0.72 6.69 7.37 -1,382.08
Asset Turnover Latest 5-Yr Avg 81.06 81.42 95.15 116.55 97.85 123.27 2.68 5.14
Return on Inv. Cap Latest 5-Yr Avg 1.76 0.70 8.41 10.74 9.33 12.59 -92.84 -97.50
Return on Assets Latest 5-Yr Avg -1.07 -0.54 6.38 7.81 7.07 9.10 -82.20 -69.81
Return on Equity Latest 5-Yr Avg 5.29 3.75 13.94 17.35 15.36 19.90 -112.43 -127.36
Analysts’ Estimate 16.16 9.23 8.12 15.88
©2010 Morningstar. All Rights Reserved. Morningstar has used the utmost care in compiling the data presented herein, but cannot guarantee the accuracy, completeness, or timeliness of the information.
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Table of Contents for the Digital Edition of Morningstar Catalog 2010/2011
Morningstar Catalog 2010/2011
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