Thursday February 25, 2021 25 February 2021

NEWS BITES - EUROPE

Air France - KLM (FR:AF), France's 3rd largest Travel & leisure company by market cap, traded at its 261-day high of EUR5.96. The last time the price hit that level was on Jun 09.

Air France - KLM's stock price has increased 10.0c (1.8%) from its previous trading session to close at EUR5.51. Compared with the CAC 40 Index which fell 14.1 points (0.2%) in the day, the relative price increase was 2.1%.

There were 9,770,000 shares worth EUR53.8 million ($65.4 million) traded today. Thursday's price rise was propped up by firm volume of 1.3 times the average daily volume of 7.6 million shares.

Financial News

Annual Report (FY 2020):

FY2020 Annual Report: Air France - KLM Gross Profit down 70%

Air France - KLM (FR:AF) reported gross profit for the year-ended 31 December 2020 [FY2020] of EUR4.0b ($5.0b), down 69.9% from EUR13.4b ($15.0b) in the previous year [FY2019].

Major changes compared with previous year (FY2020 vs FY2019):

Favourable Changes:

Current ratio up 23.5% from 0.7 to 0.8

Total current assets to Total Assets up from 27.8% to 32.8%

Unfavourable Changes:

Sales revenue down 59.2% from EUR27.2b ($30.5b) to EUR11.1b ($13.6b)

Total revenue to total assets down from 0.9 to 0.4

Operating Cash Flow is negative

Cost of Goods Sold to Sales up from 50.6% to 63.6%

Sales and marketing expenses to Sales up from 34.3% to 53.2%

Total non-current assets to Total Assets down from 72.2% to 67.2%

Fixed Assets to Total Assets down from 58.8% to 57.1%

Current Debtors to Total Assets down from 7% to 4.1%

Note:

Tax expenses to Sales up from 0.3% to 0.9%

Intangibles to Total Assets down from 5% to 4.8%

Annual growth in Revenue and Net Profit

Year-ended31 December [FY/2020]31 December [FY/2019]
Revenue, EUR Billion11.127.2
Revenue, $ Billion13.633.4
Growth in Revenue %-2.5
Net Profit, EUR-7.1b290m
Net Profit, $-8.7b356m
Growth in Net Profit %--29.1
EPS, EUR-14.01.0

AF Stock Dashboard (traded in EUR)

CurrencyEUR 1 = USD 1.21SectorTravel & Leisure
Feb 25 closeEUR5.51Market CapEUR2.4 billion [$2.9 billion]
Ave Daily Volume7,642,424 sharesEPS (FY2020)(EUR14)
52-Week Range (In EUR)2.61 - 8.23Shares Outstanding428,630,000

AFLYY ADR Dashboard (traded in $)

Home ExchangeFrance% of shares outstanding2.1%
CodeAFLYYRatio1 ADR equals 1 ordinary share
ISINUS0091191082TypeSponsored
CUSIP009119108Feb 24 close$6.54
*No. Held by Institutions7,918,940Ave Daily Volume143,202 ADRs

Primary Exchange and Other Listings: Trading Currency and Volume (Excl ADR)

ExchangeTickerCurrencyLastADVTVol % of TotalToday's VI
ParisAFEUR5.516,645,02099.01.5
FrankfurtAFREUR5.3968,1691.01.5
Total100.00

ADVT= Avg. Daily Volume of Trading; VI= Volume Index (1 is avg)

AF Financials Summary:

+ Sales were down 59.2% from $33 billion in FY2019 to $13.5 billion in FY2020.

+ Net profit down from a loss of $352.2 million in FY2019 to a loss of $8.6 billion in FY2020.

Year ended DecFY2020FY2019FY2018
Sales ($ B)13.53332.2
Pretax ($)(8.4B)420.3M756.7M
Net ($)(8.6B)352.2M496.8M
EPS (EUR)--1

INDEX

SECTION 1 CORPORATE PROFILE AND INDEPENDENT RATINGS

SECTION 2 TOP SHAREHOLDERS

SECTION 3 TODAY'S BULLISH SIGNALS

SECTION 4 ONGOING BULLISH PARAMETERS

SECTION 5 TODAY'S BEARISH SIGNALS

SECTION 6 ONGOING BEARISH PARAMETERS

SECTION 7 FINANCIALS

SECTION 8 PEER GROUP ANALYSIS & RANKING

SECTION 9 CURRENCY SYNOPSIS: EURO (EUR)

SECTION 10 HISTORICAL PERSPECTIVE

SECTION 11 MACROECONOMIC INDICATORS

SECTION 12 CREDIT RATING SUMMARY

GLOSSARY

DATA & ARCHIVE DOWNLOAD CENTER

AF: EXCEL TABLES ARE AVAILABLE TO EXPORT DATA:

+ PRICE VOLUME - 5-YEAR HISTORY

+ FINANCIALS - 10-YEAR HISTORY:

+ PEER COMPARISON - STOCK IN TRAVEL & LEISURE SECTOR AND STOCK IN INDICES

AF: LINKS IN HTML TO FURTHER INFORMATION:

+ PRICE VOLUME CHARTS IN HTML

+ USD vs EUR EXCHANGE RATE CHARTS IN HTML

SECTION 1 CORPORATE PROFILE AND INDEPENDENT RATINGS

1.1 Activities

Air France-KLM is one of the world's leading airline companies. Net sales break down by activity as follows: - passenger transportation (77.5%): 71.4 million people transported in 2009/10; - freight transportation (11.6%; No. 2 worldwide): 1.5 Mt of merchandise transported; - maintenance services (4.6%); - other (6.3%): primarily catering service activities (Servair and KLM Catering Services) and charters (Transavia.com). At the end of March 2010, the group had a fleet of 625 airplanes divided between the domestic fleets of Air France (262, of which 148 owned and 114 leased) and KLM (113, of which 33 owned and 80 leased), and the regional fleets of KLM Cityhopper (48, of which 32 owned and 16 leased), Brit Air (43, of which 16 owned and 27 leased), City Jet (27, of which 16 owned and 11 leased), Regional (64, of which 23 owned and 41 leased), VLM Airlines (17, of which 15 owned and 2 leased) and other (51, of which 8 owned and 43 leased).

1.2 Independent Ratings

+ Fortune 500:

Air France - KLM was ranked 386 by total revenues in the Fortune 500 annual list for 2017; a deterioration over a year from rank 363 in 2016.

+ Forbes 2000:

It is the 289th largest by revenue in the Forbes Global 2000.

1.3 Contact Details

Websitehttp://www.airfranceklm-finance.com
Physical Address45 rue de Paris POBox 90112 95747 Roissy Charles de Gaulle France
Phone+33 (0)1 41 56 88 85
Fax+33 (0)1 41 56 70 29

1.4 Industry & Sector

Classification LevelName of Sector
Industry GroupHotels & Entertainment Services
IndustryLeisure & Recreation
Economic SectorConsumer Cyclicals
Business SectorCyclical Consumer Services

SECTION 2 TOP SHAREHOLDERS

Top 7 shareholders

Name of the Share Holder% of Capital
French State14.3
Dutch State14.0
Delta Airlines, Inc.8.8
China Eastern Airlines8.8
Donald Smith & Co., Inc.5.0
Causeway Capital Management LLC5.0
Employees3.7

% held by Top 7 shareholders 59.6%

SECTION 3 TODAY'S BULLISH SIGNALS

3.1 Momentum Up 12.7% Past Week

The stock is the ninth highest performer in the CAC 40 Index of 39 stocks in the past week.

Air France - KLM outperformed the CAC 40 index in 5 out of 5 days. The price ranged between a low of EUR4.78 on Feb 18 and a high of EUR5.41 on Feb 24.

FebAir France - KLMClose price [EUR]Price change %Relative change % *Comment
Thu 18Falls for a third consecutive day, a three-day fall of 3.0%4.78-0.40.2Week-low of 4.78; Steepest Fall
Fri 19Offers 8th lowest Price Earnings in CAC Consumer Services Index, despite price rise4.943.32.6
Mon 22Up 4.6% in 2 days51.21.3Rises for a second consecutive day
Tue 23Offers 9th lowest Price Earnings in CAC Consumer Services Index, despite price rise5.142.82.6VI*=1.5
Wed 24Hits three-month high5.415.34.9Week-high of 5.41; Top Rise

* Relative change is price change of stock with respect to Benchmark Index, CAC 40 index.

[Volume Index (VI); 1 is average]

3.2 Rank in the top 9% by Relative Valuation in the French market

DescriptionValueRank
Price to Sales0.2In Top 6%
Cash to MCap %25.7In Top 9%

3.3 Rank in the top 12% by Price Performance in the French market

DescriptionValueRank
1-week Price Change %15.3In Top 4%
1-month Price Change %21.1In Top 12%

3.4 Uptrend

The stock traded at year high of EUR5.96 today.

Beta > 1 combined with price rise. The Beta of the stock is 1.6.

Exponential Moving Average Price of 1.1 and positive MACD:

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 5.09 minus the 26-day EMA of 5.0 is positive, suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.

- The price to 50-day EMAP ratio is 1.1, a bullish indicator. In the past 50 days this ratio has exceeded 1.1, four times suggesting further upside. The 50-day EMAP has increased to EUR4.88. An increase is another bullish indicator.

Past Month:

- Rises to Falls: In the past month the number of rises outnumbered falls 14:9 or 1.6:1.

Past Quarter:

The Best 3 weeks in the past quarter

In the past quarter the week beginning Monday November 23 saw the highest weekly rise of 27.7% for a relative price increase of 25.8%. The rise was propped up by volume of 1.6 times average.

Mon-FriChange %CAC 40 index Change %RPC %Vol Ind [1 is avg]
Nov 23-2727.71.925.81.6
Jan 11-154.5-1.76.20.6
Jan 25-293.8-2.96.71

Relative Strength (6 months) 71 percentile:

- The stock has a 6-month relative strength of 71 in the French market of 566 stocks indicating it has outperformed 71% of the market.

3.5 Undervaluation

MCap/Total Assets:

- The company is cash rich with Cash to Market Capitalisation at 25.7%.

SECTION 4 ONGOING BULLISH PARAMETERS

4.1 Rank in the top 21% by Size in the French market

DescriptionValueRank
Ave daily TurnoverEUR53.8 million ($65.4 million)In Top 8%
Tr 12 months RevenueEUR11.1 billion ($13.5 billion)In Top 10%
MCap$2.9 billionIn Top 21%

4.2 Present Value of EUR1000 Invested in the Past 3 Months; The Best Period with PVEUR1000 > 1,090

PVEUR1,0003 mo ago
AF.FREUR1,091
Travel & Leisure sectorEUR1,134
CAC 40 IndexEUR1,041

4.3 Past quarter: price rise of 9.1%

3-Month price change of 9.1% for Air France - KLM outperformed the change of 3.3% in the CAC 40 index for a relative price change of 5.8%.

Price Change %Quarter
Air France - KLM9.1
Travel & Leisure sector13.4
CAC 40 index3.3

4.4 Increased Volume, up 121% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has increased 120.9% to 7.6 million shares.

Avg. Daily Volume Traded 12 months ended Feb 25, million shares

YearADVT
20217.6
20203.1
20194.7
20183.8
20173.5

4.5 Increased share turnover, up 28% in 5 years

In the past five years, average daily share turnover has increased 28.5% to EUR27 million ($32.8 million). This suggests increased liquidity.

Past five years, 12 months ended Feb 25 (EUR million)

YearAverage Daily Turnover
202127.0
202030.6
201941.1
201842.6
201721.0

4.6 Growth > 113% for Revenue:

- Revenue growth has shown signs of recovery in recent quarters. [All figures in %]

Qtr-endedRevenue GrowthNet Profit Margin
Sep 20 [Q3 vs Q2]113.7-65.1
Jun 20 [Q2 vs Q1]-76.5-219.6

SECTION 5 TODAY'S BEARISH SIGNALS

5.1 Rank in the bottom 13% by Price Performance in the French market

DescriptionValueRank
PV1000 [1 yr] $771In Bottom 13%

5.2 Overbought/Bearish/Resistance Signals:

- At EUR5.51 the price has risen above the upper Bollinger band resistance of EUR5.36, indicating a downside risk for it to fall back within the band.

SECTION 6 ONGOING BEARISH PARAMETERS

6.1 Past two-years

- Air France - KLM fell for a second consecutive year. In the previous year the shares fell EUR4.06 (33.6%).

6.2 Present Value of EUR1000 Invested in the Past [1 Yr, 3 Yrs]; The Worst Periods with PVEUR1000 < 688

PVEUR1,0001 yr ago3 yrs ago
AF.FREUR687EUR557
Travel & Leisure sectorEUR848EUR695
CAC 40 IndexEUR1,018EUR1,088

6.3 The Worst Periods [1 Yr, 3 Yrs] with Price Change % < -31.2

3-Year price change of -44.3% for Air France - KLM underperformed the change of 8.8% in the CAC 40 index for a relative price change of -53.1%.

Price Change %Year3 Years
Air France - KLM-31.3-44.3
Travel & Leisure sector-17.5-30.5
CAC 40 index-0.18.8

6.4 Moving Annual Return of -31.3% in the past year:

Moving Annual Return was -31.3% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged -2.8%. The Moving Annual Return has been negative in 3 out of 5 years.

AFClose (EUR)Annual Return %
Feb 255.51(31.3)
1 Yr ago8.02(31.5)
2 Yrs ago11.718.2
3 Yrs ago9.950.5
4 Yrs ago6.58(19.7)

Close 5 years ago EUR8.19

6.5 MCap: 5-Year Decrease of EUR97 million [$118 million]

In the past 5 years Market Capitalization has decreased by EUR97 million (4%) from EUR2.5 billion to EUR2.4 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 3 out of 5 years.

PriceMCap (EUR M)MCap ($ M)
LastEUR5.512,361.82,868.7
1 Year agoEUR8.023,437.63,729.9
2 Years agoEUR11.705,0155,685.5
3 Years agoEUR9.904,243.45,221.5
4 Years agoEUR6.581,975.42,091
5 Years agoEUR8.192,458.82,711.6

6.6 Total Shares on Issue: 5-Year Increase of 44.4%

In the past 5 years total shares on issue have increased by 131.4 million (44.4%) from 296.1 million to 427.4 million. Based on a dynamic start date of 5 years ago, there have been declines in issued capital in 2 out of 5 years. An increase in total shares on issue is an unfavourable indicator in Joseph Piotroski's 9 indicators.

Year End (Dec 31)Total Shares on Issue
2020427,426,030
2019427,432,460
2018427,487,660
2017427,487,660
2016299,070,080
2015296,069,680

6.7 Annualised Period-based Total Shareholder Returns [TSR %]: The Worst Periods with TSR < -7.1%

TSR %1 yr3 yrs5 yrs10 yrs
AF.FR-31.3-17.6-7.6-7.2

6.8 Declining VWAP, down 24% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has decreased by 23.5% to EUR4.50. .

Past five years, 12 months ended Feb 25 (EUR)

YearHigh PriceVWAPLow Price
20218.234.52.61
202012.739.617.46
201912.088.576.65
201814.6510.966.36
20178.845.884.61

6.9 Satisfies 2 out of 9 criteria of Joseph Piotroski [pass mark 5]:

- Improvement in current ratio from 0.7 to 0.8.

- Reduction in total shares on issue.

SECTION 7 FINANCIALS

EXCEL TABLES ARE AVAILABLE TO EXPORT AS FOLLOWS:

Financials FY 2020, Past 10 Years

http://www.buysellsignals.net/BuySellSignals/report/France/Stock/PDF/quarterly/xls/AF_Financials.xls

SECTION 8 PEER GROUP ANALYSIS & RANKING

8.1 Global Peer Group (all figures in $): Key Financials

In its Global Peer Group of 9 companies AF is ranked first by Revenue, Total Assets, fifth by Relative Str. (6 mo), MCap, eighth by PV $1000 (1 yr) and ninth by Net Profit.

Name (Code)Relative Str. (6 mo)MCapPV $1000 (1 yr)RevenueNet ProfitTotal Assets
Rank of AF558191
Air France - KLM (AF)802.9B771.313.5B(8.6B)36.7B
Hyatt Hotels Class A (H)793.4B1,121.05B766M8.4B
William Hill (WMH)883.4B1,675.52.2B(38.1M)2.8B
Brinker International (EAT)883.3B1,920.63.1B24.4M2.4B
Meihua Holdings Group - A Share (600873)413.1B1,802.42.3B153M3B
Xiabu Xiabu Catering Management China (00520)962.8B2,619.2933.4M44.6M870.8M
SSP Group (SSPG)812.7B656.42B(563.3M)4.1B
Maoyan Entertainment (01896)562.4B1,364.3660.6M71.7M1.8B
J D Wetherspoon (JDW)782.2B987.11.8B(54.6M)3.2B

Global Peer Group: Relative Value Indicators

AF is ranked first by P/S and third by Turnover Rate.

Name (Code)Country CodeLast PriceP/STurnover Rate (%)% Disc to 52-w Hi
Rank of AF13
Air France - KLM (AF)FREUR5.510.2326.4
Hyatt Hotels Class A (H)US$89.640.7411.4
William Hill (WMH)GBGBX270.801.5130.013.4
Brinker International (EAT)US$72.191.1503.32.8
Meihua Holdings Group - A Share (600873)CNCNY6.431.4234.210.1
Xiabu Xiabu Catering Management China (00520)HKHKD20.103.090.626.0
SSP Group (SSPG)GBGBX349.841.380.0
Maoyan Entertainment (01896)HKHKD16.103.655.416.6
J D Wetherspoon (JDW)GBGBX1,294.571.253.3

8.2 BuySellSignals Fundamentals Valuation Ranking: Air France - KLM vs French Market

Out of 566 stocks in the French Market, Air France - KLM is ranked Forty-fifth by Revenue, Ninety-fifth by Discount to 52-Wk High, 114th by Market Cap $ and 368th by Premium to 52-Wk Low.

French AvgAFRankRank 1Rank 2Rank 3Lowest Rank
Revenue $4.4 B13.5 B45125.8 B CS119.7 B FP90.1 B CA8,405 TAYN
Discount to 52-Wk High (%)1.533.059599.97 ALCYB91.9 ALNEV87.3 LOCAL0.2 IDIP
Market Cap $7.4 B2.9 B114325.6 B MC208.5 B OR179.6 B CATR9,284 ALCYB
Premium to 52-Wk Low (%)52.4111.13681.6 ALDBL2.2 EXPL2.96 FREY2280.9 ALENT
EBITDA Margin%9.5(37.8)62985.9 FREY81.5 COVH80.2 MERY(85.8) EOSI
Net Profit $161.3 M(8.6 B)77715 B SAN9.9 B BNP8.8 B GNE(9.7 B) RNO

Negative values are shown in brackets.

8.3 Market Share

Air France - KLM vs Travel & Leisure sector [Travel & Leisure sector Total in Brackets]

Revenue of EUR11.1 billion ($13.5 billion)[26.9% of aggregate sector revenue of EUR41.8 billion; down from 44.4% in the previous year.]

8.4 Global Rank [out of 47,999 stocks] and Rank of Air France - KLM in the Europe Region [out of 7,627 stocks]

DescriptionValueGlobal RankIn Eur Region
MCap ($)2.9B5,001925
Total Assets ($)36.7B1,222268
Revenue ($)13.5B1,078243
Net Profit ($)(8.6B)43,0696,342
Net Profit Margin %(63.4)34,7945,256
PV1000 (1Year) $*77137,4356,334
$* Change (1Year) %-26.737,3246,327

* 1 year ago EUR 1 = $ 1.09

Feb 25, 2021: EUR 1 equals $ 1.21

8.5 Rank of Air France - KLM in the Total French Market [out of 582 stocks] and in the Travel & leisure sector [out of 15 stocks]

DescriptionValueIn Total French MarketIn Travel & leisure sector
MCap (EUR)2.4B1063
Total Assets (EUR)30.2B441
Revenue (EUR)11.1B452
Net Profit (EUR)(7.1B)62015
Net Profit Margin %(63.4)53715
PV1000 (1Year) EUR68752011

8.6 Long-Term Fundamental Ranking: 4 out of 5 [5 is best]

Air France - KLM is ranked number 3 out of 16 listed travel & leisure companies in the France with a market capitalization of EUR2.4 billion ($2.9 billion).

Within its sector it has a relatively low Price/Sales of 0.2.

Stocks are scored on a set of parameters reflecting fundamental analytical tools involving valuation, size and financial performance. They are ranked according to the average values of those parameters. The highest ranking is 5 and the lowest ranking is 1.

SECTION 9 CURRENCY SYNOPSIS: EURO (EUR)

9.1 % Change of USD vs Currency Basket Period-Based

In the past three years the US Dollars rose 1.1% against the Euro. However, in the past year the US Dollars fell 10.9% against the Euro.

LastCountry1-day %1-week %1-Year %3-Yrs %
USD1=0.822EUREuropean Union-0.2-1.0-10.91.1
USD1=8.275SEKSweden-0.1-0.6-15.01.3
USD1=0.707GBPUnited Kingdom-0.2-1.9-8.6-1.2
USD1=8.38NOKNorway-1.0-1.4-10.46.8
USD1=1.256AUDAustralia-0.6-2.7-17.1-1.6
USD1=6.457CNYChina-0.1--8.11.9
USD1=105.867JPYJapan0.6--4.4-0.9
USD1=1.251CADCanada-0.6-1.5-5.8-0.9
USD1=1.0USDUnited States Of America0.0---
USD1=20.389MXNMexico-0.70.87.19.9
USD1=1,107.692KRWSouth Korea-0.20.1-9.12.9
USD1=7.755HKDHong Kong---0.5-0.9
USD1=0.907CHFSwitzerland0.20.9-7.4-3.1
USD1=1.343NZDNew Zealand-1.4-3.5-14.9-2.1
USD1=1.319SGDSingapore-0.1-0.7-5.8-0.1

9.2 % Change of EUR vs Currency Basket Period-Based

In the past year the Euro fell 3.9% against the New Zealand Dollar; in the past three years the Euro fell 2.4% against the New Zealand Dollar.

LastCountry1-day %1-week %1-Year %3-Yrs %
EUR1=1.644NZDNew Zealand-1.0-2.1-3.9-2.4
EUR1=1.102CHFSwitzerland0.82.04.0-4.3
EUR1=1.604SGDSingapore-0.25.8-1.1
EUR1=1.534AUDAustralia-0.3-1.4-6.4-2.3
EUR1=10.264NOKNorway-0.90.21.36.4
EUR1=128.626JPYJapan0.60.96.9-2.0
EUR1=7.836CNYChina-0.20.83.00.6
EUR1=24.904MXNMexico-0.82.020.29.1
EUR1=1.213USDUnited States Of America-0.10.812.2-1.3
EUR1=1.526CADCanada-0.5-0.46.1-2.0
EUR1=1,347.526KRWSouth Korea-0.41.12.01.8
EUR1=9.409HKDHong Kong-0.811.6-2.2
EUR1=1.0EUREuropean Union0.0---
EUR1=10.094SEKSweden-0.5-4.60.5
EUR1=0.86GBPUnited Kingdom-0.4-1.12.5-2.4

SECTION 10 HISTORICAL PERSPECTIVE

Year-on-Year Comparison USD/EUR (Trailing year - ended 24 Feb)

In the past 5 years, the EUR has appreciated against the USD at an average compound annual growth rate of 2.1%.

202120202019201820172016
Close0.820.920.880.810.950.91
% Change-10.94.58.5-14.14.323.4
Range0.88 - 0.89

USD1 buys EUR 0.82 today: Appreciation of EUR from 0.84 v/s USD fifteen years ago

Last5 Yrs ago10 Yrs ago15 Yrs ago
USD/EUR0.820.910.770.84

Present Value of EUR1000 Invested in USD 10 years ago is EUR1,073

PVEUR1,0005 yrs ago10 yrs ago
USD/EUREUR905EUR1,073

SECTION 11 MACROECONOMIC INDICATORS

INDICATORUNITED STATES[USD]EURO[EUR]
GDP (Billion USD)21,43313,336
GDP growth yoy (%)-2.5-5.1
Interest rate (%)0.250.05
Inflation rate (%)1.40.9
Unemployment rate (%)6.38.3
Budget / (Deficit) to GDP ratio (%)(4.6)(0.6)
Current account / (Deficit) to GDP ratio (%)-2.32.3
Debt to GDP ratio (%)107.677.6

SECTION 12 CREDIT RATING SUMMARY

United States:

Rating AgencyLong TermForeign CurrencyDescription
MOODYAaa
S&PAA+Very strong capacity to meet financial commitments. The plus (+) sign shows relative standing within the major rating category.
FITCHAAA Highest credit quality: 'AAA' ratings denote the lowest expectation of default risk. This capacity is highly unlikely to be adversely affected by foreseeable events.
DAGONGA-High Credit Quality: "A" ratings denote expectations of relatively low default risk. The capacity for payment of financial commitments is considered sufficient. However, this capacity may be more vulnerable than those of the higher ratings to adverse business or economic conditions due to any foreseeable event. The minus (-) sign shows relative standing within the major rating category.

GLOSSARY

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Cash/MCap: Cash plus Liquids/Market Capitalisation (times)

Current Ratio: Current Assets/Current Liabiliites (times)

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price/Earnings: Share Price/Earnings Per Share (times)

Price/Sales: Share Price/Sales Per Share (times)

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.

TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend

Turnover Rate: value of annual trading volume as a percentage of market capitalisation

Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Created by www.buysellsignals.com