Nippon T&T Nippon T&T
Mrd. Y 97 98 99 2" 1 2 3 4 5 6 Mrd. Y 7 8 9 10 11 12
Umsatz 8.823 9.450 9.730 10.383 11.329 11.536 10.923 11.095 10.806 10.741 Umsatz 10.761 10.681 10.416 10.181 10.305 10.507
C.O.S. 3.436 3.394 3.471 3.472 change 6.343 6.343 6.274 C.O.S. 6.493 6.639 6.300 6.045 6.096 6.302
GM 6.294 6.989 7.858 8.064 change 4.752 4.463 4.467 GM 4.268 4.042 4.116 4.136 4.209 4.205
GMR 65% 67% 69% 70% change 43% 41% 42% GMR 40% 38% 40% 41% 41% 40%
S.G.A. 5.583 6.165 7.023 7.131 change 3.192 3.207 3.270 S.G.A. 3.141 3.047 2.993 3.000 2.990 2.982
S.G.A./U 57% 59% 62% 62% change 29% 30% 30% S.G.A./U 29% 29% 29% 29% 29% 28%
Oper. Inc. 769 872 711 824 835 933 1.328 1.560 1.256 1.197 Oper. Inc. 1.127 995 1.123 1.127 1.219 1.223
O.I.R. 9% 9% 7% 8% 7% 8% 12% 14% 12% 11% O.I.R. 10% 9% 11% 11% 12% 12%
Andere -518 -658 -157 -595 -301 -1.768 -1.095 -916 -546 -698 Andere -650 -360 -584 -635 -709 -755
Andere/U -6% -7% -2% -6% -3% -15% -10% -8% -5% -6% Andere/U -6% -3% -6% -6% -7% -7%
N.I. 251 214 554 229 534 835 233 644 710 499 N.I. 477 635 539 492 510 468
UR 3% 2% 6% 2% 5% 7% 2% 6% 7% 5% UR 4% 6% 5% 5% 5% 4%
UR inc. MA 3% 3% 6% 4% 6% 7% 3% 8% 9% 7% UR inc. MA 6% 8% 7% 7% 7% 6%
EBITDA EBITDA
Zinsaufwand 216 175 166 142 130 113 94 76 Zinsaufwand 70 64 59 55 55 56
SD 1.780 1.091 1.037 1.356 1.395 1.429 991 956 SD 1.124 942 4.967 4.451 3.472 2.296
EBIT/ZA EBIT/ZA
EBITDA/SD EBITDA/SD
G/A -B- 158 Y 135 Y 348 Y 188 Y 335 Y 517 Y 145 Y 406 Y 459 Y 348 Y G/A -B- 345 Y 461 Y 400 Y 372 Y 385 Y 367 Y
G/A -D- G/A -D-
AA -B-  1,591 M 1,591 M 1,591 M 1,587 M 1,596 M 1,613 M 1,604 M 1,586 M 1,548 M 1,432 M AA -B-  1,382 M 1,378 M 1,345 M 1,323 M 1,323 M 1,276 M
AA -D- AA -D-
BW  (dil.) 3.790 Y 4.233 Y 3.636 Y 3.515 Y 4.034 Y 4.373 Y 4.735 Y BW  (dil.) 5.190 Y 5.378 Y 5.426 Y 5.887 Y 6.063 Y 6.178
EKR 9% 12% 4% 11% 11% 7% EKR 7% 9% 7% 7% 7% 6%
CR-MA R 1% 3% 1% 3% 4% 1% 4% 4% 3% CR-MA R 3% 4% 3% 3% 3% 3%
C-MA-(I+G)R 3% 5% 1% 4% 4% 3% C-MA-(I+G)R 3% 4% 4% 3% 3% 3%
St.Equ. -MA 6.015 6.756 5.865 5.638 6.398 6.769 6.780 St.Equ. -MA 7.173 7.411 7.298 7.788 8.021 7.883
St.Equ.  6.925 8.242 7.374 7.164 8.011 8.498 8.633 St.Equ.  9.025 9.275 9.146 9.771 10.081 10.048
C-MA 18.191 20.274 19.916 18.257 17.822 17.369 17.033 C-MA 16.515 16.655 16.949 16.956 17.606 17.225
C 16.475 17.353 18.573 19.101 21.759 21.425 19.784 19.435 19.099 18.886 C 18.366 18.519 18.796 18.939 19.666 19.390
C-MA-(I+G) 15.358 16.581 18.339 16.683 16.216 15.719 15.362 C-MA-(I+G) 14.798 14.843 15.088 15.002 15.241 14.845
Kapitalum. Ges. 0,57 0,56 0,56 0,59 0,53 0,51 0,56 0,56 0,56 Kapitalum. Ges. 0,57 0,58 0,56 0,54 0,54 0,53
Property P&E 11.656 12.005 12.162 11.864 11.792 11.498 11.058 10.770 10.481 10.436 Property P&E 10.424 10.386 10.202 10.058 9.901 9.806
Kapitalu. P.P&E 0,81 0,81 0,85 0,95 0,98 0,95 1,00 1,00 1,02 Kapitalu. P.P&E 1,03 1,02 1,00 1,00 1,02 1,06
EQ 36% 38% 34% 36% 41% 44% 47% EQ 49% 50% 49% 52% 51% 52%
Schulden ges. 12.176 13.517 14.051 12.620 11.424 10.601 10.253 Schulden ges. 9.341 9.244 9.650 9.168 9.585 9.342
Schulden Kurz 3.858 4.852 4.132 3.766 3.809 3.680 3.973 Schulden Kurz 3.731 3.912 3.694 3.588 3.689 3.494
Schulden Lang 8.319 8.665 9.918 8.853 7.615 6.921 6.281 Schulden Lang 5.610 5.332 5.957 5.580 5.896 5.848
Vermög. Kurz 3.697 3.858 4.288 3.950 4.091 4.517 4.254 Vermög. Kurz 3.891 3.990 4.068 4.246 4.770 4.712
Vermög. Lang 15.404 17.901 17.137 15.834 15.344 14.582 14.632 Vermög. Lang 14.475 14.529 14.728 14.693 14.896 14.678
WCV -8.479 -9.659 -9.763 -8.670 -7.333 -5.964 -5.999 WCV -5.450 -5.254 -5.582 -4.922 -4.815 -4.630
Current R. 0,96 0,80 1,04 1,05 1,07 1,23 1,07 Current R. 1,04 1,02 1,10 1,18 1,29 1,35
V. 2.Gr. 1,85 2,07 1,73 1,79 2,02 2,11 2,33 V. 2.Gr. 2,58 2,72 2,47 2,63 2,53 2,51
Im. + Good. 2.833 3.693 1.577 1.574 1.606 1.650 1.671 Im. + Good. 1.717 1.812 1.861 1.954 2.365 2.380 Y
St.Equ.-MA -I.+G. 3.182 1.159 4.288 4.064 4.792 5.119 5.109 St.Equ.-MA -I.+G. 5.456 5.599 5.437 5.834 5.656 5.503
BW - I.+G. 2.005 Y 726 Y 2.658 Y 2.534 Y 3.021 Y 3.307 Y 3.568 Y BW - I.+G. 3.948 Y 4.063 Y 4.042 Y 4.410 Y 4.275 Y 4.313 Y
Op. CF 2.365 2.796 3.009 2.313 2.439 3.451 2.830 3.243 Op. CF 2.361 3.091 2.514 2.818 2.831 2.508
I.   CF -632 -2.934 -5.067 -2.376 -1.987 -2.137 -1.768 -2.077 I.   CF -2.151 -1.991 -2.270 -2.309 -2.052 -1.971
F.    CF -990 -363 1.774 457 -454 -1.223 -1.112 -1.140 F.    CF -832 -726 -353 -651 -250 -948
CASH 1.657 1.155 901 1.319 1.313 1.431 1.382 1.411 CASH 796 1.170 1.053 911 1.435 1.020
Owners Earnings 97 98 99 2'' 1 2 3 4 5 6 Owners Earnings 7 8 9 10 11 12
N.I. + MA 534 835 233 644 710 499 N.I. + MA 477 635 539 682 702
Adjustments 2.475 3.148 2.206 2.837 2.120 2.744 Adjustments 1.884 2.456 1.975 2.136 2.129 2.508
Capital exp. 2.848 2.301 2.044 2.209 2.155 2.160 Capital exp. 2.228 1.988 2.029 1.924 1.895 1.853
Free CF 161 12 395 1.272 675 1.083 Free CF 133 1.106 485 894 936 655
Free CF/A -B- 101 Y 7 Y 246 Y 802 Y 436 Y 756 Y Free CF/A -B- 96 Y 803 Y 361 Y 676 Y 707 Y 513 Y
Tilgung gesch. 7% 852 946 984 883 800 742 Tilgung gesch. 7% 718 654 647 676 642 671
Liqu.Über. 691 934 589 389 125 327 Liqu.Über. 585 452 162 218 294 16
Liqu.Über./A -B- 433 Y 579 Y 367 Y 245 Y 81 Y 228 Y Liqu.Über./A -B- 423 Y 328 Y 120 Y 165 Y 222 Y 13 Y
Div/A 50 Y 50 Y 50 Y 100 Y 50 Y 50 Y 50 Y 50 Y 60 Y 60 Y Div/A 80 Y 90 Y 110 Y 120 Y 120 Y 140 Y
Divisumme Divisumme
DIV/Op.CF 3% 6% 3% 3% 3% 3% 3% 3% DIV/Op.CF 5% 4% 6% 6% 6% 7%
DIV/N.I. 32% 37% 9% 53% 15% ###### 34% 12% 13% 17% DIV/N.I. 23% 20% 28% 32% 31% 38%
Dividynamik/A Dividynamik/A
Umsatzdynamik Umsatzdynamik
N.I.-dynamik N.I.-dynamik
Op. CF-dynamik Op. CF-dynamik
Kennzahlen var. 97 98 99 2" 1 2 3 4 5 6 Kennzahlen var. 7 8 9 10 11 12
Kurs 8.700 Y 20.125 Y 13.125 Y 4.400 Y 4.200 Y 4.921 Y 4.320 Y 4.830 Y Kurs 5.550 Y 4.340 Y 4.950 Y 3.640 Y 3.360 Y 3.500 Y
Marktwert 13.422 31.938 20.948 7.097 6.737 7.805 6.687 6.917 Marktwert 7.670 5.981 6.658 4.816 4.445 4.466
KGV 25 107 39 VERLUST 29 12 9 14 KGV 16 9 12 10 9 10
Rendite 4,00% 0,93% 2,55% 11,75% 3,45% 8,25% 10,63% 7,21% Rendite 6,22% 10,62% 8,08% 10,22% 11,46% 10,49%
MU 1,4 3,1 1,8 0,6 0,6 0,7 0,6 0,6 MU 0,7 0,6 0,6 0,5 0,4 0,4
Kurs/BW V. 1,5 5,3 3,1 1,2 1,2 1,2 1,0 1,0 Kurs/BW V. 1,1 0,8 0,9 0,6 0,6 0,6
Dividendenre. 2,00% 0,50% 0,38% 1,14% 1,19% 1,02% 1,39% 1,24% Dividendenre. 1,44% 2,07% 2,22% 3,30% 3,57% 4,00%
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