Balance Sheet

Breakdown 11/29/2018
Assets
Current Assets
Cash
Cash And Cash Equivalents 80570
Short Term Investments 16251
Total Cash 96821
Net Receivables 273513
Inventory 166771
Other Current Assets 0
Total Current Assets 571858
Non-current assets
Property, plant and equipment
Gross property, plant and equipment 1268839
Accumulated Depreciation -648111
Net property, plant and equipment 620728
Equity and other investments
Goodwill 670587
Intangible Assets 835092
Other long-term assets 0
Total non-current assets 2159056
Total Assets 2730914
Liabilities and stockholders' equity
Liabilities
Current Liabilities
Total Revenue 384253
Accounts Payable 207282
Taxes payable 0
Accrued liabilities 0
Deferred revenues 0
Other Current Liabilities 5636
Total Current Liabilities 768351
Non-current liabilities
Long Term Debt 747754
Deferred taxes liabilities 167862
Deferred revenues 420
Other long-term liabilities 0
Total non-current liabilities 1072430
Total Liabilities 1840781
Stockholders' Equity
Common Stock 31400
Retained Earnings 394578
Accumulated other comprehensive income 0
Total stockholders' equity 872660
Total liabilities and stockholders' equity 2730914
Income Statement
Breakdown 11/29/2018
Total Revenue 1367730
Cost of Revenue 967599
Gross Profit 400131
Operating Expenses -
Research Development 2919
Selling General and Administrative 259405
Total Operating Expenses 257589
Operating Income or Loss 142542
Interest Expense 29746
Total Other Income/Expenses Net -
Income Before Tax 107,197
Income Tax Expense -23,931
Income from Continuing Operations 131,128
Net Income 128,965
Net Income available to common shareholders 128,965
Reported EPS
Basic 3.21
Diluted 3.21
Weighted average shares outstanding
Basic 31400
Diluted 31400
EBITDA 274004
Gerresheimer (GXI.DE)

Date GXI.DE Close Rate of Return Avg Return Std Deviation

10/27/2014 44.35
11/3/2014 44.99 1.45% 0.245% 0.03418
11/10/2014 44.74 -0.56%
11/17/2014 44.91 0.38%
11/24/2014 44.44 -1.06%
12/1/2014 45.53 2.45%
12/8/2014 42.87 -5.83%
12/15/2014 45.54 6.24%
12/22/2014 45.95 0.89%
12/29/2014 45.49 -1.01%
1/5/2015 46.21 1.59%
1/12/2015 47.80 3.44%
1/19/2015 47.14 -1.38%
1/26/2015 48.40 2.66%
2/2/2015 50.44 4.23%
2/9/2015 49.61 -1.66%
2/16/2015 51.62 4.06%
2/23/2015 51.47 -0.29%
3/2/2015 51.40 -0.14%
3/9/2015 52.24 1.63%
3/16/2015 52.78 1.03%
3/23/2015 51.24 -2.92%
3/30/2015 51.70 0.90%
4/6/2015 54.66 5.73%
4/13/2015 53.74 -1.68%
4/20/2015 53.14 -1.12%
4/27/2015 50.69 -4.61%
5/4/2015 51.44 1.48%
5/11/2015 51.84 0.78%
5/18/2015 54.05 4.26%
5/25/2015 51.94 -3.90%
6/1/2015 51.29 -1.25%
6/8/2015 51.25 -0.08%
6/15/2015 52.61 2.65%
6/22/2015 54.73 4.03%
6/29/2015 54.91 0.33%
7/6/2015 55.34 0.78%
7/13/2015 57.49 3.89%
7/20/2015 57.19 -0.52%
7/27/2015 66.91 17.00%
8/3/2015 67.17 0.39%
8/10/2015 65.00 -3.23%
8/17/2015 61.27 -5.74%
8/24/2015 62.04 1.26%
8/31/2015 63.60 2.51%
 9/7/2015 63.76 0.25%
9/14/2015 64.00 0.38%
9/21/2015 64.93 1.45%
9/28/2015 64.43 -0.77%
10/5/2015 68.91 6.95%
10/12/2015 67.36 -2.25%
10/19/2015 70.29 4.35%
10/26/2015 70.97 0.97%
11/2/2015 71.01 0.06%
11/9/2015 73.58 3.62%
11/16/2015 75.30 2.34%
11/23/2015 73.86 -1.91%
11/30/2015 71.89 -2.67%
12/7/2015 69.23 -3.70%
12/14/2015 71.74 3.63%
12/21/2015 71.81 0.10%
12/28/2015 72.19 0.53%
1/4/2016 67.91 -5.93%
1/11/2016 65.07 -4.18%
1/18/2016 65.92 1.31%
1/25/2016 65.13 -1.20%
2/1/2016 59.46 -8.71%
2/8/2016 63.94 7.53%
2/15/2016 63.82 -0.19%
2/22/2016 66.22 3.76%
2/29/2016 66.02 -0.30%
3/7/2016 66.44 0.64%
3/14/2016 68.27 2.75%
3/21/2016 67.50 -1.13%
3/28/2016 69.98 3.67%
4/4/2016 69.89 -0.13%
4/11/2016 68.35 -2.20%
4/18/2016 68.35 0.00%
4/25/2016 64.94 -4.99%
5/2/2016 65.35 0.63%
5/9/2016 67.64 3.50%
5/16/2016 69.38 2.57%
5/23/2016 70.90 2.19%
5/30/2016 71.72 1.16%
6/6/2016 69.31 -3.36%
6/13/2016 66.79 -3.64%
6/20/2016 67.89 1.65%
6/27/2016 70.50 3.84%
7/4/2016 72.56 2.92%
7/11/2016 73.61 1.45%
7/18/2016 74.71 1.49%
7/25/2016 76.77 2.76%
8/1/2016 76.00 -1.00%
 8/8/2016 76.36 0.47%
8/15/2016 74.48 -2.46%
8/22/2016 74.70 0.30%
8/29/2016 76.35 2.21%
9/5/2016 73.02 -4.36%
9/12/2016 74.83 2.48%
9/19/2016 76.32 1.99%
9/26/2016 75.63 -0.90%
10/3/2016 73.33 -3.04%
10/10/2016 70.83 -3.41%
10/17/2016 70.54 -0.41%
10/24/2016 69.02 -2.15%
10/31/2016 66.99 -2.94%
11/7/2016 66.26 -1.09%
11/14/2016 67.58 1.99%
11/21/2016 68.69 1.64%
11/28/2016 67.75 -1.37%
12/5/2016 69.63 2.77%
12/12/2016 70.09 0.66%
12/19/2016 70.47 0.54%
12/26/2016 70.62 0.21%
1/2/2017 71.37 1.06%
1/9/2017 71.64 0.38%
1/16/2017 74.95 4.62%
1/23/2017 75.91 1.28%
1/30/2017 75.46 -0.59%
2/6/2017 76.08 0.82%
2/13/2017 72.74 -4.39%
2/20/2017 73.66 1.26%
2/27/2017 74.10 0.60%
3/6/2017 73.67 -0.58%
3/13/2017 73.60 -0.10%
3/20/2017 72.52 -1.47%
3/27/2017 74.24 2.37%
4/3/2017 71.57 -3.60%
4/10/2017 72.21 0.89%
4/17/2017 70.75 -2.02%
4/24/2017 72.02 1.80%
5/1/2017 72.48 0.64%
5/8/2017 74.41 2.66%
5/15/2017 74.14 -0.36%
5/22/2017 75.71 2.12%
5/29/2017 78.01 3.04%
6/5/2017 77.07 -1.20%
6/12/2017 72.67 -5.71%
6/19/2017 73.05 0.52%
6/26/2017 70.43 -3.59%
7/3/2017 70.50 0.10%
 7/10/2017 70.49 -0.01%
7/17/2017 69.67 -1.16%
7/24/2017 69.37 -0.43%
7/31/2017 70.62 1.80%
8/7/2017 68.96 -2.35%
8/14/2017 69.13 0.25%
8/21/2017 70.19 1.53%
8/28/2017 65.15 -7.18%
9/4/2017 63.26 -2.90%
9/11/2017 63.60 0.54%
9/18/2017 64.19 0.93%
9/25/2017 65.49 2.03%
10/2/2017 65.52 0.05%
10/9/2017 65.33 -0.29%
10/16/2017 66.51 1.81%
10/23/2017 67.70 1.79%
10/30/2017 66.06 -2.42%
11/6/2017 65.92 -0.21%
11/13/2017 65.85 -0.11%
11/20/2017 66.23 0.58%
11/27/2017 66.13 -0.15%
12/4/2017 69.39 4.93%
12/11/2017 69.55 0.23%
12/18/2017 67.82 -2.49%
12/25/2017 69.12 1.92%
1/1/2018 72.05 4.24%
1/8/2018 71.65 -0.56%
1/15/2018 71.45 -0.28%
1/22/2018 72.00 0.77%
1/29/2018 69.10 -4.03%
2/5/2018 64.40 -6.80%
2/12/2018 69.45 7.84%
2/19/2018 60.90 -12.31%
2/26/2018 62.75 3.04%
3/5/2018 67.00 6.77%
3/12/2018 66.70 -0.45%
3/19/2018 65.70 -1.50%
3/26/2018 66.65 1.45%
4/2/2018 66.45 -0.30%
4/9/2018 66.65 0.30%
4/16/2018 67.95 1.95%
4/23/2018 68.45 0.74%
4/30/2018 66.85 -2.34%
5/7/2018 66.70 -0.22%
5/14/2018 66.70 0.00%
5/21/2018 68.20 2.25%
5/28/2018 67.40 -1.17%
6/4/2018 68.05 0.96%
 6/11/2018 67.85 -0.29%
6/18/2018 73.15 7.81%
6/25/2018 69.50 -4.99%
7/2/2018 69.50 0.00%
7/9/2018 75.20 8.20%
7/16/2018 74.05 -1.53%
7/23/2018 73.60 -0.61%
7/30/2018 74.40 1.09%
8/6/2018 73.30 -1.48%
8/13/2018 72.95 -0.48%
8/20/2018 73.50 0.75%
8/27/2018 72.00 -2.04%
9/3/2018 75.25 4.51%
9/10/2018 75.65 0.53%
9/17/2018 71.20 -5.88%
9/24/2018 72.75 2.18%
10/1/2018 69.75 -4.12%
10/8/2018 61.50 -11.83%
10/15/2018 61.70 0.33%
10/22/2018 61.00 -1.13%
10/29/2018 63.30 3.77%
11/5/2018 63.90 0.95%
11/12/2018 62.85 -1.64%
11/19/2018 63.95 1.75%
11/26/2018 62.90 -1.64%
12/3/2018 58.85 -6.44%
12/10/2018 58.30 -0.93%
12/17/2018 56.15 -3.69%
12/24/2018 57.25 1.96%
12/31/2018 53.55 -6.46%
1/7/2019 59.40 10.92%
1/14/2019 60.40 1.68%
1/21/2019 60.05 -0.58%
1/28/2019 57.60 -4.08%
2/4/2019 58.00 0.69%
2/11/2019 62.20 7.24%
2/18/2019 69.10 11.09%
2/25/2019 67.95 -1.66%
3/4/2019 66.50 -2.13%
3/11/2019 67.90 2.11%
3/18/2019 67.30 -0.88%
3/25/2019 67.00 -0.45%
4/1/2019 69.55 3.81%
4/8/2019 69.10 -0.65%
4/15/2019 66.05 -4.41%
4/22/2019 66.75 1.06%
4/29/2019 68.70 2.92%
5/6/2019 68.95 0.36%
 5/13/2019 68.75 -0.29%
5/20/2019 66.05 -3.93%
5/27/2019 63.80 -3.41%
6/3/2019 63.45 -0.55%
6/10/2019 63.70 0.39%
6/17/2019 65.75 3.22%
6/24/2019 64.75 -1.52%
7/1/2019 65.40 1.00%
7/8/2019 73.65 12.61%
7/15/2019 72.70 -1.29%
7/22/2019 72.30 -0.55%
7/29/2019 69.45 -3.94%
8/5/2019 69.30 -0.22%
8/12/2019 66.45 -4.11%
8/19/2019 66.55 0.15%
8/26/2019 68.65 3.16%
9/2/2019 68.65 0.00%
9/9/2019 68.15 -0.73%
9/16/2019 67.45 -1.03%
9/23/2019 66.35 -1.63%
9/30/2019 65.00 -2.03%
10/7/2019 64.35 -1.00%
10/14/2019 66.20 2.87%
10/21/2019 71.55 8.08%
10/28/2019 72.20 0.91%
MDAX Close Rate of Return Avg Return Std Deviation
16134.25
16209.98 0.47% 0.210% 0.02080501905
16290.12 0.49%
16840.94 3.38%
16984.26 0.85%
17183.95 1.18%
16374.36 -4.71% Correlation= 0.455065
16769.45 2.41%
17022.35 1.51% Beta Coefficient= 0.747621
16952.13 -0.41%
17163.48 1.25% Risk Free Rate= -0.31%
17675.42 2.98%
18653.68 5.53% Market Premium= 5.96%
18594.14 -0.32%
18991.59 2.14% CAPM= 0.044373
19288.16 1.56%
19657.07 1.91%
20092.01 2.21%
20284.08 0.96%
20857.59 2.83%
20941.43 0.40%
20585.68 -1.70%
20859.54 1.33%
21619.83 3.64%
20898.67 -3.34%
21024.70 0.60%
20316.55 -3.37%
20604.51 1.42%
20602.57 -0.01%
20915.81 1.52%
20449.60 -2.23%
20005.52 -2.17%
20010.19 0.02%
19573.16 -2.18%
20350.21 3.97%
19874.49 -2.34%
20238.86 1.83%
20996.77 3.74%
20642.59 -1.69%
20764.56 0.59%
21114.00 1.68%
20709.98 -1.91%
19341.98 -6.61%
19657.69 1.63%
19325.66 -1.69%
19560.00 1.21%
19512.23 -0.24%
19300.58 -1.08%
19323.28 0.12%
20200.51 4.54%
19640.56 -2.77%
20918.18 6.51%
21174.53 1.23%
21292.94 0.56%
20519.68 -3.63%
21296.91 3.79%
21421.20 0.58%
20903.97 -2.41%
20196.80 -3.38%
20648.53 2.24%
20708.82 0.29%
20774.62 0.32%
19321.93 -6.99%
18789.76 -2.75%
19216.73 2.27%
19478.04 1.36%
18685.74 -4.07%
17924.03 -4.08%
19009.38 6.06%
19201.49 1.01%
19781.27 3.02%
19815.05 0.17%
20099.43 1.44%
19982.77 -0.58%
20195.55 1.06%
20170.51 -0.12%
20334.46 0.81%
20382.38 0.24%
20100.71 -1.38%
20042.42 -0.29%
20152.26 0.55%
20268.50 0.58%
20811.14 2.68%
20525.71 -1.37%
20185.16 -1.66%
19690.11 -2.45%
19828.60 0.70%
20105.23 1.40%
19720.74 -1.91%
20554.12 4.23%
20809.93 1.24%
21164.44 1.70%
21212.89 0.23%
21837.61 2.94%
21581.99 -1.17%
21560.14 -0.10%
21733.31 0.80%
21315.42 -1.92%
21027.76 -1.35%
21549.48 2.48%
21583.98 0.16%
21275.37 -1.43%
21320.94 0.21%
21341.39 0.10%
21162.01 -0.84%
20428.98 -3.46%
20381.26 -0.23%
20520.77 0.68%
20911.80 1.91%
20529.36 -1.83%
21662.21 5.52%
21816.24 0.71%
22088.74 1.25%
22188.94 0.45%
22255.27 0.30%
22498.89 1.09%
22645.26 0.65%
22881.12 1.04%
22644.50 -1.03%
23032.20 1.71%
23300.05 1.16%
23345.11 0.19%
23437.25 0.39%
23325.48 -0.48%
23690.10 1.56%
23542.84 -0.62%
23904.08 1.53%
24202.32 1.25%
24273.36 0.29%
23985.01 -1.19%
24615.79 2.63%
25163.01 2.22%
24946.80 -0.86%
25025.63 0.32%
25208.33 0.73%
25695.74 1.93%
25410.57 -1.11%
25229.43 -0.71%
25211.55 -0.07%
24452.30 -3.01%
24573.28 0.49%
25162.38 2.40%
24556.07 -2.41%
24689.17 0.54%
25104.04 1.68%
24491.33 -2.44%
24827.65 1.37%
24762.63 -0.26%
24826.98 0.26%
24904.48 0.31%
25264.17 1.44%
25619.06 1.40%
25994.31 1.46%
25981.36 -0.05%
26081.63 0.39%
26053.33 -0.11%
26710.00 2.52%
26961.97 0.94%
26494.78 -1.73%
26440.92 -0.20%
26703.43 0.99%
26703.94 0.00%
26178.45 -1.97%
26043.16 -0.52%
26144.24 0.39%
26200.77 0.22%
27018.38 3.12%
26932.43 -0.32%
27455.24 1.94%
27025.94 -1.56%
26039.60 -3.65%
25030.74 -3.87%
26189.51 4.63%
26335.04 0.56%
25224.57 -4.22%
26124.89 3.57%
25626.99 -1.91%
25203.76 -1.65%
25591.52 1.54%
25646.49 0.21%
25630.18 -0.06%
25983.35 1.38%
25859.49 -0.48%
26379.85 2.01%
26699.86 1.21%
26834.65 0.50%
26713.20 -0.45%
26528.11 -0.69%
26662.35 0.51%
26951.13 1.08%
26401.33 -2.04%
25854.38 -2.07%
25957.68 0.40%
26413.57 1.76%
26573.20 0.60%
26975.28 1.51%
26877.79 -0.36%
26671.70 -0.77%
26377.37 -1.10%
26832.76 1.73%
26901.41 0.26%
26180.71 -2.68%
26337.08 0.60%
26344.15 0.03%
25997.86 -1.31%
25276.32 -2.78%
23870.99 -5.56%
24148.60 1.16%
23478.22 -2.78%
24473.93 4.24%
24178.74 -1.21%
23700.89 -1.98%
23210.66 -2.07%
23453.53 1.05%
22535.45 -3.91%
22281.45 -1.13%
21605.17 -3.04%
21588.09 -0.08%
22038.06 2.08%
22669.27 2.86%
23175.11 2.23%
23822.92 2.80%
23746.71 -0.32%
23205.78 -2.28%
24324.40 4.82%
24362.51 0.16%
24657.69 1.21%
24300.16 -1.45%
25150.78 3.50%
24711.11 -1.75%
24722.02 0.04%
25544.72 3.33%
25461.69 -0.33%
25855.72 1.55%
25911.71 0.22%
25960.81 0.19%
25488.53 -1.82%
25791.99 1.19%
25160.12 -2.45%
24776.52 -1.52%
25082.96 1.24%
25258.70 0.70%
25500.86 0.96%
25619.57 0.47%
25930.13 1.21%
25813.63 -0.45%
25845.12 0.12%
26224.31 1.47%
25626.16 -2.28%
25354.02 -1.06%
24817.08 -2.12%
25039.94 0.90%
25719.96 2.72%
26010.47 1.13%
26257.53 0.95%
25897.30 -1.37%
25833.94 -0.24%
25533.50 -1.16%
25627.56 0.37%
25999.86 1.45%
26240.57 0.93%
26359.29 0.45%
Balance Sheet 29/11/2018 Equity Liabilitie
Current assets 571858
Fixed assets 2159056
Short term debt 768351 Equity
Long term debt 1072430 32%
Equity 872660

Beta Coefficient= 0.747621

Risk Free Rate= -0.31%

Market Premium= 5.96% Lo

Cost of equity= 0.041458

Cost of equity= Risk Free Rate+(Beta*Market Premium)

Long term interest 5%

Short term interest 2%

* Used Germany bank lending rate as of September 2019-1,98%

Corporate tax rate= 30%

 Equity Liabilities Total Assets
Current
Short term assets
debt 21%
Equity
32% 28%

Long term
debt Fixed assets
40% 79%

Column1 Amount Cost Net cost Weighted cost

Equity 872660 0.0415 0.0415 0.0133

Long term debt 1072430 0.05 0.035 0.0138

Short term debt 768351 0.02 0.014 0.0040

SUM 2713441 WACC= 0.0311

Weighted Average Cost of Capital 0.0311

Current
assets
21%
Current assets 571858 Operating Profit
Inventory 166771 Interest Expenses
Fixed assets 2159056 Income before taxes
Long term debt 1072430 Cost of Goods Sold
Short term debt 768351 Net Sales
Total Liabilities 1717352 Gross Margin
Total Equity 1028976
Operating Leverage
(*Gross Margin/EBIT)

Equity to Fixed Assets 47.66%

Degree of Total Leverage
Current ratio 74.43% (DFL*DOL)

Quick ratio 52.72%

Debt to Equity ratio 166.90%

Operating Leverage
Net revenue form sales of goods 1367730
Cost of sold products 967599
Gross profit from sales 400131
Operating profit 142542

Golden rule of financing 0.973298516 <1

Golden balance banking rule 0.476586064 <1

 142542 Financial Leverage
29746 Financial Income 2437
107197 Financial Expenses 29746
967599 Gross Profit 400131
1367730 Income Tax 23931
400131 Net Profit 131128

2.81 Financial Leverage 1.26

(*EBIT/EBIT-Interest)

otal Leverage 3.55

Indicators 2014 2015 % change 2016 % change
Profit after taxes 72851 112658 54.64% 168201 49.30%
Revenue 1290016 1377232 6.76% 1375460 -0.13%
Total Equity 604372 698131 15.51% 763295 9.33%
Total Assets 1655929 2419927 46.14% 2,374,256 -1.89%
Net profit margin 5.65% 8.18% 44.85% 12.23% 49.49%
ROA 4.40% 4.66% 5.82% 7.08% 52.17%
ROE 12.05% 16.14% 33.87% 22.04% 36.56%

Data 29/11/2018
EBIT at break-even point
Debt 1717352 Profit after Taxes 131128
Equity 1028976 Total Sales 1367730
Interest Rate 2% Cost of Sales 967599
Total Assets 2730914
EBIT 0 54926.56 Total Equity 1028976
Inventory 2018 166771
Inventory 2017 146295
Average Inventory 156533
Break-even ROE
EBIT at break-even 54926.56
Interests 29746
Equity 1028976
Tax Rate 30%

ROE 0 1.71%
 2017 % change 2018 %change
103052 -38.73% 131128 27.24%
1348255 -1.98% 1367730 1.44%
789525 3.44% 1028976 30.33%
2,444,097 2.94% 2730914 11.74%
7.64% -37.50% 9.59% 25.43%
4.22% -40.48% 4.80% 13.88%
13.05% -40.77% 12.74% -2.37%

Ratios/ Indicators %ROE changes

Net profit margin 9.59% Debt 1717352

Asset Turnover 0.50 Equity 1028976
Roa 4.80% EBIT 142542
Roe 12.74% Interest Rate 2%
Inventory Turnover 6.18 Tax Rate 30%
In days 59.05
%ROE changes 3.73%