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Q2 2010 cash and equivalents for S & P Industrials (former) posted a quarter seventh consecutive records holdings (842.5 billion, compared to 836.8 billion in Q1 ' 10). In total, the value represents now 11.13% of the current value of the market, 75.6 weeks 2010 estimated operating profit 5 times the annual dividend payment and 4.4 times last month 12 of redemption. Q2 10 cash flow growth (preliminary) in the first quarter of ' 10 actually exceeded operating revenues: 10.42% vs. 9.94%.
While there was evidence of an increase in spending in the third quarter, with a decline in earnings estimates, the current level of cash available to businesses, in total, either as a comparative metric reaches a level unprecedented which allows for the first time in memory to undertake multi-actions simultaneously.The reality of the situation, however, is that at the time they chose to do not faire.Ils increased dividends, maintained at a level required to neutralize the dilution of earnings due to the options carefully, invested in maintenance as required, redemptions and selectively started to participate in M & A, way more centralized on the product lines building current expansion.
Given the current economic uncertainty, political spending, taxes, actions of consumption, my observation is that, unfortunately, from a point of view corporate it is difficult to find fault with their current profitability level given prudence.étant and environment, the risk-reward off trade seems to support their actions and to ensure that the climate of uncertainty clears, for better or for worse, increased spending and job creation will be difficult to obtain.As stated, without a job means without recovery.
There are 376 issues in the S & P Industrials (former) .Des problems with fully compatible data - 368
131 issues (35.6%) have more money than LTD, with 55 (14.9%) of them having more money than LTD and combined existing commitments
181 issues (49.2%) have increased their cash holdings to 20% last year
dividend payers 222 258 (86.0%) in the industrials have more money than their annual dividend rate
214 251 (85.3%) said share repurchases have more money than their last 12 months of purchase
Issues 192 (76.5%) have more money than their combined dividends, redemptions (note the 192 64 do not pay a dividend)
232 issues (63.0%) had at least 52 weeks of 2010 estimated cash, operating profit 126 questions (34.2%) aged at least 104 weeks - 2
69 issues (18.8%) were over 20% of their value in cash
Information technology was equal to 18% of its market value and 125 weeks estimated 2010 operating cash
It has a coverage rate of dividend 17 cash and a coverage rate of redemption of 5.35
Four main cash holders are information technology, with three of them do not pay a dividend
Cisco Systems have the largest holdings of cash and equivalents, with $ 39.9 billion, which represents 33.8% of its market value, four times its 2011 estimate operating Street (July 11), five times it is last four quarters of redemption and infinity on its dividend rate no (note that General Electric was 73 $billion C & e, but $61 acronyms is credit company, and we are looking for is free and clear to spend cash)
To the industrials full S & p:
Q2 10 operating earnings are 9.94% from Q1'10 and 38.62% Q2 ' 09, with 10.42% and 15.86% cash flow
Q3 operating earnings ' 10 is estimated at 20.6% in Q3,'09, but decreased by 3.4% from Q2'10
See the additional data file
SP_CASH_20100910.xls
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