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Informed Technologies India

BSE:504810
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
504810
BSE
₹128M
Market Cap
  1. Home
  2. IN
  3. Software
Company description

Informed Technologies India Limited primarily provides business process outsourcing services for financial content industries internationally. The last earnings update was 233 days ago. More info.


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504810 Share Price and Events
7 Day Returns
0%
BSE:504810
2.1%
IN IT
-1.1%
IN Market
1 Year Returns
-
BSE:504810
19.7%
IN IT
-2.2%
IN Market
504810 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Informed Technologies India (504810) 0% -9.3% - - 28.2% 94.6%
IN IT 2.1% 8.2% 10.4% 19.7% 50.5% 85.2%
IN Market -1.1% 1.6% 6.7% -2.2% 40.3% 72%
1 Year Return vs Industry and Market
  • No trading data on 504810.
  • No trading data on 504810.
Price Volatility
504810
Industry
5yr Volatility vs Market

504810 Value

 Is Informed Technologies India undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Informed Technologies India. This is due to cash flow or dividend data being unavailable. The share price is ₹30.65.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Informed Technologies India's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Informed Technologies India's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:504810 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-03-31) in INR ₹3.20
BSE:504810 Share Price ** BSE (2019-04-10) in INR ₹30.65
India IT Industry PE Ratio Median Figure of 85 Publicly-Listed IT Companies 15.98x
India Market PE Ratio Median Figure of 2,740 Publicly-Listed Companies 16.11x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Informed Technologies India.

BSE:504810 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:504810 Share Price ÷ EPS (both in INR)

= 30.65 ÷ 3.20

9.58x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Informed Technologies India is good value based on earnings compared to the IN IT industry average.
  • Informed Technologies India is good value based on earnings compared to the India market.
Price based on expected Growth
Does Informed Technologies India's expected growth come at a high price?
Raw Data
BSE:504810 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
8.8%per year
India IT Industry PEG Ratio Median Figure of 21 Publicly-Listed IT Companies 1.31x
India Market PEG Ratio Median Figure of 584 Publicly-Listed Companies 1.31x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Informed Technologies India, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Informed Technologies India's assets?
Raw Data
BSE:504810 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-03-31) in INR ₹34.71
BSE:504810 Share Price * BSE (2019-04-10) in INR ₹30.65
India IT Industry PB Ratio Median Figure of 108 Publicly-Listed IT Companies 1.39x
India Market PB Ratio Median Figure of 3,630 Publicly-Listed Companies 1.09x
BSE:504810 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:504810 Share Price ÷ Book Value per Share (both in INR)

= 30.65 ÷ 34.71

0.88x

* Primary Listing of Informed Technologies India.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Informed Technologies India is good value based on assets compared to the IN IT industry average.
X
Value checks
We assess Informed Technologies India's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the IT industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the IT industry average (and greater than 0)? (1 check)
  5. Informed Technologies India has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

504810 Future Performance

 How is Informed Technologies India expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Informed Technologies India, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Informed Technologies India expected to grow at an attractive rate?
  • Informed Technologies India's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Informed Technologies India's earnings growth is positive but not above the India market average.
  • Unable to compare Informed Technologies India's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BSE:504810 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:504810 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 8.8%
India IT Industry Earnings Growth Rate Market Cap Weighted Average 9.5%
India IT Industry Revenue Growth Rate Market Cap Weighted Average 9.4%
India Market Earnings Growth Rate Market Cap Weighted Average 18.3%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:504810 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:504810 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-03-31 23 -8 13
2017-03-31 29 -5 5
2016-12-31 31 13
2016-09-30 32 8
2016-06-30 33 11
2016-03-31 31 -5 10
2015-12-31 29 9
2015-09-30 28 8
2015-06-30 27 10

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Informed Technologies India's earnings are expected to grow by 8.8% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Informed Technologies India is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:504810 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Informed Technologies India Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:504810 Past Financials Data
Date (Data in INR Millions) EPS *
2018-03-31 3.20
2017-03-31 1.19
2016-12-31 3.10
2016-09-30 1.88
2016-06-30 2.74
2016-03-31 2.28
2015-12-31 2.16
2015-09-30 1.99
2015-06-30 2.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Informed Technologies India will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Informed Technologies India's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Informed Technologies India has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

504810 Past Performance

  How has Informed Technologies India performed over the past 5 years?

  • Informed Technologies India's last earnings update was 233 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Informed Technologies India's growth in the last year to its industry (IT).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Insufficient data to establish if Informed Technologies India's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Informed Technologies India's 1-year earnings growth to the 5-year average due to insufficient past data.
  • Informed Technologies India's earnings growth has exceeded the IN IT industry average in the past year (169.9% vs 27.5%).
Earnings and Revenue History
Informed Technologies India's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Informed Technologies India Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:504810 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-03-31 22.64 13.34 0.15
2017-03-31 28.72 4.94 0.13
2016-12-31 31.08 12.97 3.30
2016-09-30 31.95 7.85 3.19
2016-06-30 32.75 11.45 0.80
2016-03-31 30.89 9.52
2015-12-31 28.60 8.98 10.24
2015-09-30 28.23 8.30 10.27
2015-06-30 27.20 9.53 10.50
2015-03-31 24.91 10.28
2014-12-31 25.49 13.03 10.64
2014-09-30 23.97 7.16 12.27
2014-06-30 24.64 7.87 8.37
2014-03-31 25.85 9.94 10.42
2013-12-31 24.30 9.04 7.50
2013-09-30 22.38 15.74 5.07
2013-06-30 20.47 13.98 3.53
2013-03-31 19.63 15.17 6.22
2012-12-31 18.64 15.85 6.06
2012-09-30 18.78 15.26 8.09
2012-06-30 18.61 17.90 5.64

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Informed Technologies India has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Informed Technologies India used its assets more efficiently than the IN IT industry average last year based on Return on Assets.
  • Informed Technologies India has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Informed Technologies India's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the IT industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Informed Technologies India has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

504810 Health

 How is Informed Technologies India's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Informed Technologies India's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Informed Technologies India is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Informed Technologies India's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Informed Technologies India's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 30.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Informed Technologies India Company Filings, last reported 1 year ago.

BSE:504810 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-03-31 144.71 2.82 78.91
2017-03-31 129.84 1.43 66.17
2016-12-31 142.36 1.10 51.42
2016-09-30 142.36 1.10 51.42
2016-06-30 137.37 2.33 51.50
2016-03-31 137.37 2.33 51.50
2015-12-31 139.53 0.58 57.39
2015-09-30 139.53 0.58 57.39
2015-06-30 132.87 1.62 50.00
2015-03-31 132.87 1.62 50.00
2014-12-31 136.51 1.29 45.16
2014-09-30 136.51 1.29 45.16
2014-06-30 127.86 1.62 46.57
2014-03-31 127.86 2.24 46.57
2013-12-31 134.23 1.94 47.40
2013-09-30 134.23 1.94 47.40
2013-06-30 122.80 2.24 39.10
2013-03-31 122.80 2.83 39.10
2012-12-31
2012-09-30
2012-06-30 112.47 1.94 41.98
  • Informed Technologies India's level of debt (1.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (2.3% vs 1.9% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Informed Technologies India earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Informed Technologies India's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Informed Technologies India has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

504810 Dividends

 What is Informed Technologies India's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Informed Technologies India dividends.
If you bought ₹2,000 of Informed Technologies India shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Informed Technologies India's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Informed Technologies India's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:504810 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
India IT Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 1.5%
India Market Average Dividend Yield Market Cap Weighted Average of 1399 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:504810 Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2017-09-05 0.000 0.000
2016-08-10 1.000 3.669
2015-08-07 1.000 3.975
2015-05-29 1.000 4.317
2014-09-16 1.000 3.644
2013-09-06 1.000 7.569
2013-06-25 1.000 7.370
2012-05-28 1.000 6.825
2011-11-14 1.000 4.276
2010-05-28 1.000 3.790
2009-06-03 1.000 4.646

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Informed Technologies India has not reported any payouts.
  • Unable to verify if Informed Technologies India's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Informed Technologies India's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Informed Technologies India has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Informed Technologies India's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Informed Technologies India afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Informed Technologies India has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

504810 Management

 What is the CEO of Informed Technologies India's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Informed Technologies India has no CEO, or we have no data on them.
Management Team

Roshan D’Souza

TITLE
Chief Financial Officer
COMPENSATION
₹669K
TENURE
4.6 yrs

Reena Yadav

TITLE
Company Secretary & Compliance Officer
COMPENSATION
₹704K
TENURE
4.7 yrs

Suelve Khandelwal

TITLE
Executive Director
COMPENSATION
₹5M
AGE
54

Nilesh Mohite

TITLE
Head Operations & Business Development
Board of Directors Tenure

Average tenure and age of the Informed Technologies India board of directors in years:

5
Average Tenure
56
Average Age
  • The tenure for the Informed Technologies India board of directors is about average.
Board of Directors

Gautam Khandelwal

TITLE
Non-Executive Chairman
AGE
56

Suelve Khandelwal

TITLE
Executive Director
COMPENSATION
₹5M
AGE
54
TENURE
4 yrs

Nimis Sheth

TITLE
Independent Director
AGE
55
TENURE
6.1 yrs

Ajay Swarup

TITLE
Independent Director
AGE
59
TENURE
18.7 yrs

Virat Mehta

TITLE
Non-Executive Independent Director
AGE
61
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess Informed Technologies India's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Informed Technologies India has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

504810 News

Simply Wall St News

504810 Company Info

Description

Informed Technologies India Limited primarily provides business process outsourcing services for financial content industries internationally. Its services include financial research contents, such as informed-tech services in financial research industry; proxy voting; and dilution modeling, as well as research services, including merger and acquisition, capital market information, tracking of SEC letters, and SEC filing report contents. The company also offers executive compensation data, pay-for-performance, directors’ compensation, and compensation discussion and analysis. In addition, it provides a range of data processing services to industries involved in printing and sales of book or any other print media; and data reconciliation, data conversion, proof reading, data entry, and data tagging services. The company was founded in 1946 and is based in Mumbai, India. Informed Technologies India Limited is a subsidiary of Khandelwals Limited.

Details
Name: Informed Technologies India Limited
504810
Exchange: BSE
Founded: 1946
₹127,782,915
4,169,100
Website: http://www.informed-tech.com
Address: Informed Technologies India Limited
Nirmal Building,
20th Floor,
Mumbai,
Maharashtra, 400021,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 504810 Equity Shares Mumbai Stock Exchange IN INR 03. Mar 2005
Number of employees
Current staff
Staff numbers
26
Informed Technologies India employees.
Industry
Data Processing and Outsourced Services
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/26 12:32
End of day share price update: 2019/04/10 00:00
Last earnings filing: 2018/09/05
Last earnings reported: 2018/03/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.