Estado de Resultados

Año 0 Año 1 Año 2 Año 3

Ventas $ 1,500 $ 1,650 $ 1,815 $ 1,997
Amortizaciones $ 150 $ 158 $ 166 $ 174
Margen Operacional $ 1,350 $ 1,492 $ 1,649 $ 1,823
Intereses $ 10 $ 11 $ 12 $ 13
Utilidad Neta $ 140 $ 168 $ 200 $ 237

Estado de Situación Financiera

Año 0 Año 1 Año 2 Año 3
Activo
Activo Corriente 250 275 302 333
Activo Fijo 1200 1320 1452 1597
Activo Total 1450 1595 1754 1930

Pasivo
Otros Pasivos Corrientes 100 105 110 116
Deuda 205 182 153 117
Pasivo Total 305 287 263 233

Capital y Resevas 1000 1145 1308 1491

Utilidad Acumulada 145 163 183 206
Patrimonio 1145 1308 1491 1697

Número de Acciones 100

Distribución Dividendos sobre las utilidades generadas 50%
Gardiente de Perpetuidad 2%

10 11.45 13.08 14.91

 Año 1 Año 2 Año 3
Utilidad Operacional $ 168 $ 200 $ 237
(+) Depreciaciones / Amortizaciones $ 158 $ 166 $ 174
EBITDA $ 326 $ 366 $ 411 Último Flujo de Caja
+/- Cambios en Capital de Trabajo Vr. Terminal
Activo Corriente -$ 25 -$ 27 -$ 31
Otros Pasivos Corrientes $5 $5 $6
Flujo de Caja Operativo $ 306 $ 344 $ 386
Inversión en Activos Fijos -$ 120 -$ 132 -$ 145
Flujo de Caja Libre $ 186 $ 212 $ 241
Deudas -$ 23 -$ 29 -$ 36
Aportes de Capital 145 163 183
Intereses -$ 11 -$ 12 -$ 13
Distribución Dividendos -$ 70 -$ 84 -$ 100
Flujo de Caja No Operativo $ 227 $ 250 $ 275
Flujo de Caja del período $ 227 $ 250 $ 275

Flujo de Caja Patrimonial $ 179 $ 204 $ 233

Intereses (1-t) $7 $8 $8
Ki 6.04% 7.84% 11.11%

13.978% 13.679%
 Año FCL VP
1 $ 186 $ 154.33
2 $ 212 $ 145.94
Último Flujo de Caja 3 $ 241 $ 137.65 $ 437.92 42% Período de Relevancia
Vr. Terminal 4 $ 1,301 $ 616.56 $ 616.56 58% Perído Terminal
$ 1,054.48 Valor de la compañía
$ 1,054.48

Se puede concluir que la compañía renta más al final de

sus flujos proyectados, debido a que tiene un porcentaje
mayor de período terminal

Año FCL VP
1 $ 179 $ 148.58
2 $ 204 $ 140.74
3 $ 233 $ 132.98
4 $ 1,257 $ 595.60
$ 1,017.89
$ 1,017.89
Costo de Capital (Ke)

Tasa Libre de Riesgo 0.256% Bonos del Tesoro EE.UU a 5 años

Beta 1.257 *Ir a pestaña "Beta"
Rndimiento del Mercado Anual 2019 20.08% Promedio de Rendimiento de Mercado del período evaluado

Ke = 25.1730% Tasa Mínima de Rentabilidad Requerida por los Inversionistas

WACC (Año histórico)

Assets $ 1,450
Liabilities $ 305
Equity $ 1,145
Ki 4.88%
Tax 37% Tasa Máxima de Impuesto sobre la Renta de EEUU
Kd 3.07%
Ke 25.1730%

WACC = 20.5244% Costo Promedio Ponderado de Capital de la compañía con el

20.5244% que se descontará los flujos de Caja libre
 período evaluado

or los Inversionistas

a compañía con el
 Precio Acción Indice de Mercado Rentabilidad Acción Rentabilidad Indice
Días Date
Goldman Sachs Down Jones Goldman Sachs Diaria de Mercado

0 1/2/2019 172.03 23,346.24

1 1/3/2019 169.51 22,686.22 -1.476% -2.868%
2 1/4/2019 175.05 23,433.16 3.216% 3.239%
3 1/7/2019 176.02 23,531.35 0.553% 0.418%
4 1/8/2019 175.37 23,787.45 -0.370% 1.082%
5 1/9/2019 176.47 23,879.12 0.625% 0.385%
6 1/10/2019 176.00 24,001.92 -0.267% 0.513%
7 1/11/2019 176.93 23,995.95 0.527% -0.025%
8 1/14/2019 178.72 23,909.84 1.007% -0.359%
9 1/15/2019 179.91 24,065.59 0.664% 0.649%
10 1/16/2019 197.08 24,207.16 9.115% 0.587%
11 1/17/2019 199.09 24,370.10 1.015% 0.671%
12 1/18/2019 202.54 24,706.35 1.718% 1.370%
13 1/22/2019 197.68 24,404.48 -2.429% -1.229%
14 1/23/2019 196.90 24,575.62 -0.395% 0.699%
15 1/24/2019 197.80 24,553.24 0.456% -0.091%
16 1/25/2019 200.74 24,737.20 1.475% 0.746%
17 1/28/2019 199.72 24,528.22 -0.509% -0.848%

18 1/29/2019 200.50 24,579.96 0.390% 0.211%

19 1/30/2019 202.48 25,014.86 0.983% 1.754%
20 1/31/2019 198.01 24,999.67 -2.232% -0.061%
21 2/1/2019 196.54 25,063.89 -0.745% 0.257%
22 2/4/2019 197.72 25,239.37 0.599% 0.698%
23 2/5/2019 198.01 25,411.52 0.147% 0.680%
24 2/6/2019 196.62 25,390.30 -0.704% -0.084%
25 2/7/2019 193.07 25,169.53 -1.822% -0.873%
26 2/8/2019 191.67 25,106.33 -0.728% -0.251%
27 2/11/2019 191.33 25,053.11 -0.178% -0.212%
28 2/12/2019 194.49 25,425.76 1.638% 1.476%
29 2/13/2019 194.69 25,543.27 0.103% 0.461%
30 2/14/2019 192.53 25,439.39 -1.116% -0.408%
31 2/15/2019 198.50 25,883.25 3.054% 1.730%
32 2/19/2019 198.67 25,891.32 0.086% 0.031%
33 2/20/2019 198.60 25,954.44 -0.035% 0.243%
34 2/21/2019 196.36 25,850.63 -1.134% -0.401%
35 2/22/2019 196.00 26,031.81 -0.184% 0.698%
36 2/25/2019 198.65 26,091.95 1.343% 0.231%
37 2/26/2019 198.90 26,057.98 0.126% -0.130%
38 2/27/2019 198.10 25,985.16 -0.403% -0.280%
39 2/28/2019 196.70 25,916.00 -0.709% -0.267%
40 3/1/2019 198.20 26,026.32 0.760% 0.425%
41 3/4/2019 195.98 25,819.65 -1.126% -0.797%
42 3/5/2019 196.00 25,806.63 0.010% -0.050%
43 3/6/2019 194.74 25,673.46 -0.645% -0.517%
44 3/7/2019 192.77 25,473.23 -1.017% -0.783%
45 3/8/2019 195.24 25,450.24 1.273% -0.090%
46 3/11/2019 195.97 25,650.88 0.373% 0.785%
47 3/12/2019 196.63 25,554.66 0.336% -0.376%
48 3/13/2019 197.25 25,702.89 0.315% 0.578%
49 3/14/2019 197.47 25,709.94 0.111% 0.027%
50 3/15/2019 198.26 25,848.87 0.399% 0.539%
51 3/18/2019 202.47 25,914.10 2.101% 0.252%
52 3/19/2019 201.12 25,887.38 -0.669% -0.103%
53 3/20/2019 194.32 25,745.67 -3.440% -0.549%
54 3/21/2019 194.58 25,962.51 0.134% 0.839%
55 3/22/2019 188.96 25,502.32 -2.931% -1.788%
56 3/25/2019 188.51 25,516.83 -0.238% 0.057%
57 3/26/2019 190.69 25,657.73 1.150% 0.551%
58 3/27/2019 190.03 25,625.59 -0.347% -0.125%
59 3/28/2019 191.18 25,717.46 0.603% 0.358%
60 3/29/2019 191.99 25,928.68 0.423% 0.818%
61 4/1/2019 196.74 26,258.42 2.444% 1.264%
62 4/2/2019 197.50 26,179.13 0.386% -0.302%
63 4/3/2019 200.86 26,218.13 1.687% 0.149%
64 4/4/2019 202.23 26,384.63 0.680% 0.633%
65 4/5/2019 202.38 26,424.99 0.074% 0.153%
66 4/8/2019 202.54 26,341.02 0.079% -0.318%
67 4/9/2019 200.62 26,150.58 -0.952% -0.726%
68 4/10/2019 202.98 26,157.16 1.169% 0.025%
69 4/11/2019 202.83 26,143.05 -0.074% -0.054%
70 4/12/2019 207.84 26,412.30 2.440% 1.025%
71 4/15/2019 199.91 26,384.77 -3.890% -0.104%
72 4/16/2019 201.84 26,452.66 0.961% 0.257%
73 4/17/2019 207.90 26,449.54 2.958% -0.012%
74 4/18/2019 205.91 26,559.54 -0.962% 0.415%
75 4/22/2019 204.60 26,511.05 -0.638% -0.183%
76 4/23/2019 204.14 26,656.39 -0.225% 0.547%
77 4/24/2019 200.54 26,597.05 -1.779% -0.223%
78 4/25/2019 201.40 26,462.08 0.428% -0.509%
79 4/26/2019 203.08 26,543.33 0.831% 0.307%
80 4/29/2019 206.92 26,554.39 1.873% 0.042%
81 4/30/2019 205.92 26,592.91 -0.484% 0.145%
82 5/1/2019 204.73 26,430.14 -0.580% -0.614%
83 5/2/2019 204.99 26,307.79 0.127% -0.464%
84 5/3/2019 207.52 26,504.95 1.227% 0.747%
85 5/6/2019 206.43 26,438.48 -0.527% -0.251%
 86 5/7/2019 202.63 25,965.09 -1.858% -1.807%
87 5/8/2019 200.95 25,967.33 -0.833% 0.009%
88 5/9/2019 201.63 25,828.36 0.338% -0.537%
89 5/10/2019 202.05 25,942.37 0.208% 0.440%
90 5/13/2019 194.97 25,324.99 -3.567% -2.409%
91 5/14/2019 196.28 25,532.05 0.670% 0.814%
92 5/15/2019 196.40 25,648.02 0.061% 0.453%
93 5/16/2019 199.14 25,862.68 1.385% 0.833%
94 5/17/2019 197.43 25,764.00 -0.862% -0.382%
95 5/20/2019 197.24 25,679.90 -0.096% -0.327%
96 5/21/2019 199.11 25,877.33 0.944% 0.766%
97 5/22/2019 195.52 25,776.61 -1.819% -0.390%
98 5/23/2019 191.97 25,490.47 -1.832% -1.116%
99 5/24/2019 193.00 25,585.69 0.535% 0.373%
100 5/28/2019 189.44 25,347.77 -1.862% -0.934%
101 5/29/2019 188.05 25,126.41 -0.736% -0.877%
102 5/30/2019 187.37 25,169.88 -0.362% 0.173%
103 5/31/2019 182.49 24,815.04 -2.639% -1.420%
104 6/3/2019 183.19 24,819.78 0.383% 0.019%
105 6/4/2019 189.88 25,332.18 3.587% 2.043%
106 6/5/2019 188.44 25,539.57 -0.761% 0.815%
107 6/6/2019 189.81 25,720.66 0.724% 0.707%
108 6/7/2019 189.81 25,983.94 0.000% 1.018%
109 6/10/2019 194.12 26,062.68 2.245% 0.303%
110 6/11/2019 194.73 26,048.51 0.314% -0.054%
111 6/12/2019 190.22 26,004.83 -2.343% -0.168%
112 6/13/2019 191.45 26,106.77 0.645% 0.391%
113 6/14/2019 191.66 26,089.61 0.110% -0.066%
114 6/17/2019 190.83 26,112.53 -0.434% 0.088%
115 6/18/2019 194.98 26,465.54 2.151% 1.343%
116 6/19/2019 195.64 26,504.00 0.338% 0.145%
117 6/20/2019 195.70 26,753.17 0.031% 0.936%
118 6/21/2019 195.94 26,719.13 0.123% -0.127%
119 6/24/2019 197.49 26,727.54 0.788% 0.031%
120 6/25/2019 196.06 26,548.22 -0.727% -0.673%
121 6/26/2019 197.01 26,536.82 0.483% -0.043%
122 6/27/2019 199.32 26,526.58 1.166% -0.039%
123 6/28/2019 204.60 26,599.96 2.615% 0.276%
124 7/1/2019 206.86 26,717.43 1.099% 0.441%
125 7/2/2019 205.98 26,786.68 -0.426% 0.259%
126 7/3/2019 206.04 26,966.00 0.029% 0.667%
127 7/5/2019 207.90 26,922.12 0.899% -0.163%
128 7/8/2019 205.75 26,806.14 -1.040% -0.432%
129 7/9/2019 207.77 26,783.49 0.977% -0.085%
130 7/10/2019 205.97 26,860.20 -0.870% 0.286%
131 7/11/2019 211.35 27,088.08 2.579% 0.845%
132 7/12/2019 213.94 27,332.03 1.218% 0.897%
133 7/15/2019 211.58 27,359.16 -1.109% 0.099%
134 7/16/2019 215.52 27,335.63 1.845% -0.086%
135 7/17/2019 213.30 27,219.85 -1.035% -0.424%
136 7/18/2019 214.52 27,222.97 0.570% 0.011%
137 7/19/2019 213.52 27,154.20 -0.467% -0.253%
138 7/22/2019 214.00 27,171.90 0.225% 0.065%
139 7/23/2019 219.43 27,349.19 2.506% 0.650%
140 7/24/2019 222.03 27,269.97 1.178% -0.290%
141 7/25/2019 219.98 27,140.98 -0.928% -0.474%
142 7/26/2019 222.14 27,192.45 0.977% 0.189%
143 7/29/2019 220.32 27,221.35 -0.823% 0.106%
144 7/30/2019 221.40 27,198.02 0.489% -0.086%
145 7/31/2019 220.13 26,864.27 -0.575% -1.235%
146 8/1/2019 211.60 26,583.42 -3.952% -1.051%
147 8/2/2019 209.37 26,485.01 -1.059% -0.371%
148 8/5/2019 201.68 25,717.74 -3.742% -2.940%
149 8/6/2019 206.01 26,029.52 2.124% 1.205%
150 8/7/2019 205.74 26,007.07 -0.131% -0.086%
151 8/8/2019 207.00 26,378.19 0.611% 1.417%
152 8/9/2019 206.90 26,287.44 -0.048% -0.345%
153 8/12/2019 201.52 25,896.44 -2.635% -1.499%
154 8/13/2019 204.11 26,279.91 1.277% 1.470%
155 8/14/2019 195.56 25,479.42 -4.279% -3.093%
156 8/15/2019 196.18 25,579.39 0.317% 0.392%
157 8/16/2019 199.42 25,886.01 1.638% 1.192%
158 8/19/2019 202.20 26,135.79 1.384% 0.960%
159 8/20/2019 199.98 25,962.44 -1.104% -0.665%
160 8/21/2019 200.68 26,202.73 0.349% 0.921%
161 8/22/2019 202.42 26,252.24 0.863% 0.189%
162 8/23/2019 196.20 25,628.90 -3.121% -2.403%
163 8/26/2019 199.65 25,898.83 1.743% 1.048%
164 8/27/2019 198.07 25,777.90 -0.795% -0.468%
165 8/28/2019 200.42 26,036.10 1.179% 0.997%
166 8/29/2019 203.44 26,362.25 1.496% 1.245%
167 8/30/2019 203.91 26,403.28 0.231% 0.156%
168 9/3/2019 198.97 26,118.02 -2.452% -1.086%
169 9/4/2019 201.73 26,355.47 1.378% 0.905%
170 9/5/2019 207.05 26,728.15 2.603% 1.404%
171 9/6/2019 207.21 26,797.46 0.077% 0.259%
172 9/9/2019 211.98 26,835.51 2.276% 0.142%
173 9/10/2019 215.63 26,909.43 1.707% 0.275%
174 9/11/2019 216.80 27,137.04 0.541% 0.842%
175 9/12/2019 218.74 27,182.45 0.891% 0.167%
176 9/13/2019 219.90 27,219.52 0.529% 0.136%
177 9/16/2019 217.22 27,076.82 -1.226% -0.526%
178 9/17/2019 215.91 27,110.80 -0.605% 0.125%
179 9/18/2019 217.08 27,147.08 0.540% 0.134%
180 9/19/2019 215.23 27,094.79 -0.856% -0.193%
181 9/20/2019 213.74 26,935.07 -0.695% -0.591%
182 9/23/2019 213.46 26,949.99 -0.131% 0.055%
183 9/24/2019 207.75 26,807.77 -2.711% -0.529%
184 9/25/2019 210.03 26,970.71 1.091% 0.606%
185 9/26/2019 208.22 26,891.12 -0.866% -0.296%
186 9/27/2019 208.97 26,820.25 0.360% -0.264%
187 9/30/2019 207.23 26,916.83 -0.836% 0.359%
188 10/1/2019 202.69 26,573.04 -2.215% -1.285%
189 10/2/2019 198.25 26,078.62 -2.215% -1.878%
190 10/3/2019 197.24 26,201.04 -0.511% 0.468%
191 10/4/2019 200.80 26,573.72 1.789% 1.412%
192 10/7/2019 200.40 26,478.02 -0.199% -0.361%
193 10/8/2019 197.37 26,164.04 -1.524% -1.193%
194 10/9/2019 196.85 26,346.01 -0.264% 0.693%
195 10/10/2019 199.87 26,496.67 1.523% 0.570%
196 10/11/2019 204.68 26,816.59 2.378% 1.200%
197 10/14/2019 205.82 26,787.36 0.555% -0.109%
198 10/15/2019 206.46 27,024.80 0.310% 0.882%
199 10/16/2019 207.42 27,001.98 0.464% -0.084%
200 10/17/2019 206.46 27,025.88 -0.464% 0.088%
201 10/18/2019 206.52 26,770.20 0.029% -0.951%
202 10/21/2019 209.25 26,827.64 1.313% 0.214%
203 10/22/2019 209.60 26,788.10 0.167% -0.147%
204 10/23/2019 211.32 26,833.95 0.817% 0.171%
205 10/24/2019 211.05 26,805.53 -0.128% -0.106%
206 10/25/2019 214.23 26,958.06 1.496% 0.567%
207 10/28/2019 217.75 27,090.72 1.630% 0.491%
208 10/29/2019 217.64 27,071.46 -0.051% -0.071%
209 10/30/2019 215.81 27,186.69 -0.844% 0.425%
210 10/31/2019 213.38 27,046.23 -1.132% -0.518%
211 11/1/2019 217.39 27,347.36 1.862% 1.107%
212 11/4/2019 219.87 27,462.11 1.134% 0.419%
213 11/5/2019 218.64 27,492.63 -0.561% 0.111%
214 11/6/2019 218.42 27,492.56 -0.101% 0.000%
215 11/7/2019 223.29 27,674.80 2.205% 0.661%
216 11/8/2019 222.91 27,681.24 -0.170% 0.023%
217 11/11/2019 219.03 27,691.49 -1.756% 0.037%
218 11/12/2019 220.41 27,691.49 0.628% 0.000%
219 11/13/2019 219.32 27,783.59 -0.496% 0.332%
220 11/14/2019 219.43 27,781.96 0.050% -0.006%
221 11/15/2019 220.25 28,004.89 0.373% 0.799%
222 11/18/2019 219.73 28,036.22 -0.236% 0.112%
223 11/19/2019 220.04 27,934.02 0.141% -0.365%
224 11/20/2019 217.91 27,821.09 -0.973% -0.405%
225 11/21/2019 218.23 27,766.29 0.147% -0.197%
226 11/22/2019 220.28 27,875.62 0.935% 0.393%
227 11/25/2019 222.75 28,066.47 1.115% 0.682%
228 11/26/2019 222.45 28,121.68 -0.135% 0.197%
229 11/27/2019 222.95 28,164.00 0.225% 0.150%
230 11/29/2019 221.35 28,051.41 -0.720% -0.401%
231 12/2/2019 217.64 27,783.04 -1.690% -0.961%
232 12/3/2019 212.24 27,502.81 -2.512% -1.014%
233 12/4/2019 215.94 27,649.78 1.728% 0.533%
234 12/5/2019 217.14 27,677.79 0.554% 0.101%
235 12/6/2019 224.61 28,015.06 3.382% 1.211%
236 12/9/2019 221.81 27,909.60 -1.254% -0.377%
237 12/10/2019 221.88 27,881.72 0.032% -0.100%
238 12/11/2019 221.19 27,911.30 -0.311% 0.106%
239 12/12/2019 226.05 28,132.05 2.173% 0.788%
240 12/13/2019 225.00 28,135.38 -0.466% 0.012%
241 12/16/2019 228.04 28,235.89 1.342% 0.357%
242 12/17/2019 231.15 28,267.16 1.355% 0.111%
243 12/18/2019 230.45 28,239.28 -0.303% -0.099%
244 12/19/2019 229.94 28,376.96 -0.222% 0.486%
245 12/20/2019 228.93 28,455.09 -0.440% 0.275%
246 12/23/2019 229.09 28,551.53 0.070% 0.338%
247 12/24/2019 229.91 28,515.45 0.357% -0.126%
248 12/26/2019 231.21 28,621.39 0.564% 0.371%
249 12/27/2019 230.66 28,645.26 -0.238% 0.083%
250 12/30/2019 229.80 28,462.14 -0.374% -0.641%
251 12/31/2019 229.93 28,538.44 0.057% 0.268%
252 1/2/2020 234.32 28,868.80 1.891% 1.151%
253 1/3/2020 231.58 28,634.88 -1.176% -0.814%
254 1/6/2020 233.95 28,703.38 1.018% 0.239%
255 1/7/2020 235.49 28,583.68 0.656% -0.418%
256 1/8/2020 237.76 28,745.09 0.959% 0.563%
257 1/9/2020 242.60 28,956.90 2.015% 0.734%
258 1/10/2020 242.11 28,823.77 -0.202% -0.461%
259 1/13/2020 245.21 28,907.05 1.272% 0.289%
260 1/14/2020 245.66 28,939.67 0.183% 0.113%
261 1/15/2020 245.21 29,030.22 -0.183% 0.312%
262 1/16/2020 249.72 29,297.64 1.823% 0.917%
263 1/17/2020 249.46 29,348.10 -0.104% 0.172%
264 1/21/2020 245.70 29,196.04 -1.519% -0.519%
265 1/22/2020 247.05 29,186.27 0.548% -0.033%
266 1/23/2020 245.58 29,160.09 -0.597% -0.090%
267 1/24/2020 241.92 28,989.73 -1.502% -0.586%
268 1/27/2020 238.14 28,535.80 -1.575% -1.578%
269 1/28/2020 242.58 28,722.85 1.847% 0.653%
270 1/29/2020 240.12 28,734.45 -1.019% 0.040%
271 1/30/2020 244.13 28,859.44 1.656% 0.434%
272 1/31/2020 237.75 28,256.03 -2.648% -2.113%
273 2/3/2020 239.01 28,399.81 0.529% 0.508%
274 2/4/2020 241.94 28,807.63 1.218% 1.426%
275 2/5/2020 244.30 29,290.85 0.971% 1.663%
276 2/6/2020 241.82 29,379.77 -1.020% 0.303%
277 2/7/2020 238.00 29,102.51 -1.592% -0.948%
278 2/10/2020 237.36 29,276.82 -0.269% 0.597%
279 2/11/2020 236.46 29,276.34 -0.380% -0.002%
280 2/12/2020 238.65 29,551.42 0.922% 0.935%
281 2/13/2020 238.35 29,423.31 -0.126% -0.434%
282 2/14/2020 237.08 29,398.08 -0.534% -0.086%
283 2/18/2020 233.21 29,232.19 -1.646% -0.566%
284 2/19/2020 237.33 29,348.03 1.751% 0.395%
285 2/20/2020 232.73 29,219.98 -1.957% -0.437%
286 2/21/2020 230.62 28,992.41 -0.911% -0.782%
287 2/24/2020 224.54 27,960.80 -2.672% -3.623%
288 2/25/2020 217.61 27,081.36 -3.135% -3.196%
289 2/26/2020 215.78 26,957.59 -0.845% -0.458%
290 2/27/2020 205.69 25,766.64 -4.789% -4.518%
291 2/28/2020 200.77 25,409.36 -2.421% -1.396%
292 3/2/2020 209.47 26,703.32 4.242% 4.967%
293 3/3/2020 203.43 25,917.41 -2.926% -2.987%
294 3/4/2020 208.74 27,090.86 2.577% 4.428%
295 3/5/2020 198.79 26,121.28 -4.884% -3.645%
296 3/6/2020 192.85 25,864.78 -3.034% -0.987%
297 3/9/2020 172.81 23,851.02 -10.972% -8.106%
298 3/10/2020 184.35 25,018.16 6.464% 4.778%
299 3/11/2020 171.89 23,553.22 -6.998% -6.034%
300 3/12/2020 150.68 21,200.62 -13.170% -10.523%
301 3/13/2020 177.17 23,185.62 16.195% 8.950%
302 3/16/2020 154.66 20,188.52 -13.588% -13.842%
303 3/17/2020 158.67 21,237.38 2.560% 5.065%
304 3/18/2020 140.02 19,898.92 -12.504% -6.510%
305 3/19/2020 149.49 20,087.19 6.544% 0.942%
306 3/20/2020 138.41 19,173.98 -7.701% -4.653%
307 3/23/2020 134.97 18,591.93 -2.517% -3.083%
308 3/24/2020 153.60 20,704.91 12.930% 10.764%
309 3/25/2020 155.13 21,200.55 0.991% 2.366%
310 3/26/2020 165.79 22,552.17 6.646% 6.180%
311 3/27/2020 158.34 21,636.78 -4.598% -4.144%
312 3/30/2020 159.62 22,327.48 0.805% 3.142%
313 3/31/2020 154.59 21,917.16 -3.202% -1.855%
314 4/1/2020 145.29 20,943.51 -6.204% -4.544%
315 4/2/2020 149.93 21,413.44 3.144% 2.219%
316 4/3/2020 146.93 21,052.53 -2.021% -1.700%
317 4/6/2020 158.23 22,679.99 7.409% 7.446%
318 4/7/2020 166.02 22,653.86 4.806% -0.115%
319 4/8/2020 176.96 23,433.57 6.382% 3.384%
320 4/9/2020 184.26 23,719.37 4.042% 1.212%
321 4/13/2020 179.18 23,390.77 -2.796% -1.395%
322 4/14/2020 178.23 23,949.76 -0.532% 2.362%
323 4/15/2020 178.52 23,504.35 0.163% -1.877%
324 4/16/2020 177.04 23,537.68 -0.833% 0.142%
325 4/17/2020 183.49 24,242.49 3.578% 2.950%
326 4/20/2020 180.40 23,650.44 -1.698% -2.473%
327 4/21/2020 173.81 23,018.88 -3.721% -2.707%
328 4/22/2020 175.98 23,475.82 1.241% 1.966%
329 4/23/2020 175.05 23,515.26 -0.530% 0.168%
330 4/24/2020 177.00 23,775.27 1.108% 1.100%
331 4/27/2020 183.54 24,133.78 3.628% 1.497%
332 4/28/2020 187.01 24,101.55 1.873% -0.134%
333 4/29/2020 190.03 24,633.86 1.602% 2.185%
334 4/30/2020 183.42 24,345.72 -3.540% -1.177%
335 5/1/2020 177.10 23,723.69 -3.506% -2.588%
336 5/4/2020 176.03 23,749.76 -0.606% 0.110%
337 5/5/2020 178.30 23,883.09 1.281% 0.560%
338 5/6/2020 176.92 23,664.64 -0.777% -0.919%
339 5/7/2020 182.32 23,875.89 3.007% 0.889%
340 5/8/2020 185.39 24,331.32 1.670% 1.890%
341 5/11/2020 183.16 24,221.99 -1.210% -0.450%
342 5/12/2020 177.21 23,764.78 -3.302% -1.906%
343 5/13/2020 171.80 23,247.97 -3.100% -2.199%
344 5/14/2020 174.45 23,625.34 1.531% 1.610%
345 5/15/2020 171.87 23,685.42 -1.490% 0.254%
346 5/18/2020 181.88 24,597.37 5.661% 3.778%
347 5/19/2020 177.83 24,206.86 -2.252% -1.600%
348 5/20/2020 181.44 24,575.90 2.010% 1.513%
349 5/21/2020 180.10 24,474.12 -0.741% -0.415%
350 5/22/2020 179.93 24,465.16 -0.094% -0.037%
351 5/26/2020 196.06 24,995.11 8.585% 2.143%
352 5/27/2020 209.66 25,548.27 6.707% 2.189%
353 5/28/2020 201.22 25,400.64 -4.109% -0.580%
354 5/29/2020 196.49 25,383.11 -2.379% -0.069%
355 6/1/2020 199.93 25,475.02 1.736% 0.361%
356 6/2/2020 204.14 25,742.65 2.084% 1.045%
357 6/3/2020 210.57 26,269.89 3.101% 2.027%
358 6/4/2020 214.82 26,281.82 1.998% 0.045%
359 6/5/2020 217.92 27,110.98 1.433% 3.106%
360 6/8/2020 220.81 27,572.44 1.317% 1.688%
361 6/9/2020 218.10 27,272.30 -1.235% -1.095%
362 6/10/2020 213.52 26,989.99 -2.122% -1.041%
363 6/11/2020 194.13 25,128.17 -9.520% -7.148%
364 6/12/2020 201.78 25,605.54 3.865% 1.882%
365 6/15/2020 206.31 25,763.16 2.220% 0.614%
366 6/16/2020 209.59 26,289.98 1.577% 2.024%
367 6/17/2020 206.19 26,119.61 -1.636% -0.650%
368 6/18/2020 203.84 26,080.10 -1.146% -0.151%
369 6/19/2020 201.63 25,871.46 -1.090% -0.803%
370 6/22/2020 203.42 26,024.96 0.884% 0.592%
371 6/23/2020 204.78 26,156.10 0.666% 0.503%
372 6/24/2020 198.02 25,445.94 -3.357% -2.753%
373 6/25/2020 207.10 25,745.60 4.483% 1.171%
374 6/26/2020 189.19 25,015.55 -9.045% -2.877%
375 6/29/2020 193.47 25,595.80 2.237% 2.293%
376 6/30/2020 197.62 25,812.88 2.122% 0.845%
377 7/1/2020 197.57 25,734.97 -0.025% -0.302%
378 7/2/2020 197.40 25,827.36 -0.086% 0.358%
379 7/6/2020 207.36 26,287.03 4.922% 1.764%
380 7/7/2020 199.36 25,890.18 -3.934% -1.521%
381 7/8/2020 202.25 26,067.28 1.439% 0.682%
382 7/9/2020 196.83 25,706.09 -2.716% -1.395%
383 7/10/2020 205.56 26,075.30 4.340% 1.426%
384 7/13/2020 208.88 26,085.80 1.602% 0.040%
385 7/14/2020 214.01 26,642.59 2.426% 2.112%
386 7/15/2020 216.90 26,870.10 1.341% 0.850%
387 7/16/2020 214.67 26,734.71 -1.033% -0.505%
388 7/17/2020 211.41 26,671.95 -1.530% -0.235%
389 7/20/2020 211.71 26,680.87 0.142% 0.033%
390 7/21/2020 212.02 26,840.40 0.146% 0.596%
391 7/22/2020 206.00 27,005.84 -2.880% 0.614%
392 7/23/2020 203.02 26,652.33 -1.457% -1.318%
393 7/24/2020 201.47 26,469.89 -0.766% -0.687%
394 7/27/2020 203.02 26,584.77 0.766% 0.433%
395 7/28/2020 201.62 26,379.28 -0.692% -0.776%
396 7/29/2020 202.58 26,539.57 0.475% 0.606%
397 7/30/2020 199.53 26,313.65 -1.517% -0.855%
398 7/31/2020 197.96 26,428.32 -0.790% 0.435%
399 8/3/2020 199.39 26,664.40 0.720% 0.889%
400 8/4/2020 201.64 26,828.47 1.122% 0.613%
401 8/5/2020 204.52 27,201.52 1.418% 1.381%
402 8/6/2020 204.25 27,386.98 -0.132% 0.679%
403 8/7/2020 208.27 27,433.48 1.949% 0.170%
404 8/10/2020 209.38 27,791.44 0.532% 1.296%
405 8/11/2020 211.06 27,686.91 0.799% -0.377%
406 8/12/2020 212.13 27,976.84 0.506% 1.042%
407 8/13/2020 208.39 27,896.72 -1.779% -0.287%
408 8/14/2020 207.97 27,931.02 -0.202% 0.123%
409 8/17/2020 203.07 27,844.91 -2.384% -0.309%
410 8/18/2020 201.31 27,778.07 -0.870% -0.240%
411 8/19/2020 203.02 27,692.88 0.846% -0.307%
412 8/20/2020 201.85 27,739.73 -0.578% 0.169%
413 8/21/2020 202.43 27,930.33 0.287% 0.685%
414 8/24/2020 207.34 28,308.46 2.397% 1.345%
415 8/25/2020 206.00 28,248.44 -0.648% -0.212%
416 8/26/2020 207.22 28,331.92 0.590% 0.295%
417 8/27/2020 210.15 28,492.27 1.404% 0.564%
418 8/28/2020 207.71 28,653.87 -1.168% 0.566%

134.97
249.72
 GS DJ
MEDIA 0.05% 0.05% En promedio la Acción de Goldman Sacks durante el períod
DESVIACIÓN ESTÁNDAR 2.66% 1.84% Las acciones de Goldman Sacks tiene una dispersión frente

COEFICIENTE DE CORRELACIÓN 0.870

BETA 1.257 Esta acción es más sensible al mercado,

es decir, ofensiva

LEVERAGE BETA 1.257

UNLEVERAGE BETA 0.921

Tax 37% Tasa Máxima de Impuesto sobre la Renta de EEUU
Pasivo Total (Deuda) 305
Patrimonio 1145

COMPARACIÓN BETA CON HISTÓRICO

Unlevered beta corrected for cash - Over time

Industry Name 2015 2016 2017 2018 2019

Bank (Money Center) 0.34 0.47 0.41 0.32 0.43
Banks (Regional) 0.37 0.36 0.36 0.39 0.40
Financial Svcs. (Non-bank & Insurance) 0.06 0.06 0.07 0.07 0.08

El Beta desapalancado de Goldman Sacks es mayor al promedio histórico de los últimos 5 años a 3 tipos de industrias
relacionadas con el sistema financiero y bancario al que pertenece la compañía, concluyendo que la sensibilidad de
riesgo de la acción con un esquema de deuda 0 es mayor al promedio, es decir, es un poco más sensible al mercdo
ón de Goldman Sacks durante el período analizado rentó 0,05%, al igual que el Indice Down Jones
man Sacks tiene una dispersión frente a la Rentabilidad Esperada de 2,66%, mientras que el NASDAQ de 1,84%

e la Renta de EEUU

for cash - Over time

Average (2015-20)
0.42
0.39
0.07

os 5 años a 3 tipos de industrias

luyendo que la sensibilidad de
poco más sensible al mercdo
Global Companies Betas by Sector January 2016

Date updated: 5-Jan-20 YouTube Video explaining estimation choices and process. Notes
Created by: Aswath Damodaran, adamodar@stern.nyu.edu if you are looking for a pure-play beta, i.e., a beta for a bu
What is this data? Beta, Unlevered beta and other risk measures US companies unlevered beta corrected for cash is your best bet. Since e
can move over time, I have also reported the average of t
Home Page: http://www.damodaran.com beta across time in the last column. This number, for obvi
Data website: http://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html less likely to be volatile over time.
Companies in each industry: http://www.stern.nyu.edu/~adamodar/pc/datasets/indname.xls
Variable definitions: http://www.stern.nyu.edu/~adamodar/New_Home_Page/datafile/variable.htm
Do you want to use marginal or effective tax rates in unlevering betas? Marginal
If marginal tax rate, enter the marginal tax rate to use 25.00%

Effective Tax
Industry Name Number of firms Beta D/E Ratio rate Unlevered beta Cash/Firm value Unlevered beta corrected for cash HiLo Risk
Beverage (Soft) 34 1.22 19.24% 4.00% 1.07 2.34% 1.09 0.6676
Food Processing 88 0.88 37.38% 6.44% 0.68 1.89% 0.70 0.5094
 Global Companies Betas by Sector January 2016

Notes
if you are looking for a pure-play beta, i.e., a beta for a business, the
unlevered beta corrected for cash is your best bet. Since even sector betas
can move over time, I have also reported the average of the this sector
beta across time in the last column. This number, for obvious reasons, is
less likely to be volatile over time.

Unlevered beta corrected for cash - Over time

Standard deviation in
operating income (last Average
Standard deviation of equity 10 years) 2015 2016 2017 2018 2019 (2015-20)
57.08% 8.82% 0.98 0.99 0.78 0.63 1.04 0.92
31.53% 20.15% 0.82 0.74 0.63 0.56 0.61 0.68
 Date Open High Low Close Adj Close Volume
1/2/2019 23058.61 23413.47 22928.59 23346.24 23346.24 321570000
1/3/2019 23176.39 23176.39 22638.41 22686.22 22686.22 424240000
1/4/2019 22894.92 23518.64 22894.92 23433.16 23433.16 396020000
1/7/2019 23474.26 23687.74 23301.59 23531.35 23531.35 334200000
1/8/2019 23680.32 23864.65 23581.45 23787.45 23787.45 317420000
1/9/2019 23844.27 24084.71 23703.16 23879.12 23879.12 324570000
1/10/2019 23811.11 24014.78 23703.25 24001.92 24001.92 338150000
1/11/2019 23940.01 23996.32 23798.16 23995.95 23995.95 262650000
1/14/2019 23880.53 23964.9 23765.24 23909.84 23909.84 277560000
1/15/2019 23914.11 24099.14 23887.93 24065.59 24065.59 291570000
1/16/2019 24139.91 24288.61 24119.72 24207.16 24207.16 302830000
1/17/2019 24147.09 24474.46 24088.9 24370.1 24370.1 288590000
1/18/2019 24534.19 24750.22 24459.03 24706.35 24706.35 372970000
1/22/2019 24607.76 24607.76 24244.31 24404.48 24404.48 338480000
1/23/2019 24577.25 24700.98 24307.17 24575.62 24575.62 318600000
1/24/2019 24579.96 24626.3 24422.73 24553.24 24553.24 320170000
1/25/2019 24687.21 24860.15 24676.75 24737.2 24737.2 376890000
1/28/2019 24596.98 24596.98 24323.94 24528.22 24528.22 347170000
1/29/2019 24519.62 24674.87 24504.04 24579.96 24579.96 330870000
1/30/2019 24826.52 25109.62 24790.9 25014.86 25014.86 397330000
1/31/2019 24954.48 25049.62 24842.09 24999.67 24999.67 507350000
2/1/2019 25025.31 25193.15 24982.49 25063.89 25063.89 372090000
2/4/2019 25062.12 25239.91 24977.67 25239.37 25239.37 298540000
2/5/2019 25287.93 25427.32 25287.65 25411.52 25411.52 310650000
2/6/2019 25371.57 25439.04 25312.06 25390.3 25390.3 247590000
2/7/2019 25265.81 25314.26 25000.52 25169.53 25169.53 295460000
2/8/2019 25042.36 25106.39 24883.04 25106.33 25106.33 248210000
2/11/2019 25142.81 25196.75 25009.1 25053.11 25053.11 241700000
2/12/2019 25152.03 25458.98 25152.03 25425.76 25425.76 278110000
2/13/2019 25480.86 25625.95 25480.86 25543.27 25543.27 263330000
2/14/2019 25460.65 25558.9 25308.09 25439.39 25439.39 313010000
2/15/2019 25564.63 25883.72 25564.63 25883.25 25883.25 328530000
2/19/2019 25849.85 25961.44 25820.01 25891.32 25891.32 280620000
2/20/2019 25872.26 25986.2 25846.48 25954.44 25954.44 287880000
2/21/2019 25922.41 25938.88 25762.21 25850.63 25850.63 255710000
2/22/2019 25906.27 26052.9 25906.27 26031.81 26031.81 279760000
2/25/2019 26126.15 26241.42 26080.66 26091.95 26091.95 281600000
2/26/2019 26051.61 26155.29 25966.01 26057.98 26057.98 257850000
2/27/2019 25995.6 26039.68 25877.24 25985.16 25985.16 255380000
2/28/2019 25984.28 26029.21 25896.56 25916 25916 338520000
3/1/2019 26019.67 26143.92 25914.37 26026.32 26026.32 289890000
3/4/2019 26122.19 26155.98 25611.55 25819.65 25819.65 295510000
3/5/2019 25829.07 25877.15 25725.63 25806.63 25806.63 252260000
3/6/2019 25818.76 25837.61 25633.71 25673.46 25673.46 256250000
 3/7/2019 25645.45 25645.45 25352.55 25473.23 25473.23 289140000
3/8/2019 25347.38 25466.14 25252.46 25450.24 25450.24 270500000
3/11/2019 25208 25661.63 25208 25650.88 25650.88 309790000
3/12/2019 25600.3 25675.44 25522.17 25554.66 25554.66 317730000
3/13/2019 25637.23 25776.49 25571.31 25702.89 25702.89 331410000
3/14/2019 25692.31 25752.84 25621.31 25709.94 25709.94 302790000
3/15/2019 25720.96 25927.91 25649.7 25848.87 25848.87 616910000
3/18/2019 25801.88 25924.77 25785.66 25914.1 25914.1 399530000
3/19/2019 25987.87 26109.68 25814.92 25887.38 25887.38 342250000
3/20/2019 25867.79 25929.52 25670.63 25745.67 25745.67 321980000
3/21/2019 25688.44 26009.9 25657.78 25962.51 25962.51 335250000
3/22/2019 25844.65 25877.01 25501.45 25502.32 25502.32 386510000
3/25/2019 25490.72 25603.27 25372.26 25516.83 25516.83 303120000
3/26/2019 25649.56 25796.29 25544.78 25657.73 25657.73 305110000
3/27/2019 25676.34 25758.17 25425.27 25625.59 25625.59 270340000
3/28/2019 25693.32 25743.41 25576.69 25717.46 25717.46 237170000
3/29/2019 25827.31 25949.32 25771.67 25928.68 25928.68 300620000
4/1/2019 26075.1 26280.9 26071.69 26258.42 26258.42 295570000
4/2/2019 26213.55 26221.24 26122.31 26179.13 26179.13 250940000
4/3/2019 26238.03 26282.17 26138.47 26218.13 26218.13 271980000
4/4/2019 26213.42 26398.9 26212.78 26384.63 26384.63 233040000
4/5/2019 26427.56 26487.57 26370.82 26424.99 26424.99 229550000
4/8/2019 26312.67 26344.65 26246.03 26341.02 26341.02 229380000
4/9/2019 26243.54 26246.34 26103.14 26150.58 26150.58 244410000
4/10/2019 26173.71 26209.49 26101.24 26157.16 26157.16 203130000
4/11/2019 26188.21 26229.88 26062.59 26143.05 26143.05 211680000
4/12/2019 26357.79 26436.68 26309.72 26412.3 26412.3 369910000
4/15/2019 26407.76 26424.85 26316.42 26384.77 26384.77 250620000
4/16/2019 26482.19 26530.71 26397.19 26452.66 26452.66 302340000
4/17/2019 26468.53 26501.02 26391.86 26449.54 26449.54 367780000
4/18/2019 26463.37 26602.42 26444.53 26559.54 26559.54 332850000
4/22/2019 26510.77 26553.05 26458.61 26511.05 26511.05 232570000
4/23/2019 26513.83 26695.96 26503.56 26656.39 26656.39 311690000
4/24/2019 26652.56 26680.58 26582.86 26597.05 26597.05 283370000
4/25/2019 26426.37 26536.48 26310.28 26462.08 26462.08 296730000
4/26/2019 26454.62 26543.56 26392.55 26543.33 26543.33 317290000
4/29/2019 26559.87 26602.54 26520.75 26554.39 26554.39 279450000
4/30/2019 26594.56 26614.04 26419.47 26592.91 26592.91 340320000
5/1/2019 26639.06 26689.39 26426.38 26430.14 26430.14 303850000
5/2/2019 26407.15 26454.69 26180.36 26307.79 26307.79 287610000
5/3/2019 26379.14 26534.96 26370.09 26504.95 26504.95 248900000
5/6/2019 26160.62 26476.27 26033.95 26438.48 26438.48 283020000
5/7/2019 26276.9 26276.9 25789.71 25965.09 25965.09 334960000
5/8/2019 25933.79 26118.1 25889.41 25967.33 25967.33 276420000
5/9/2019 25878.85 25884.89 25517.39 25828.36 25828.36 334760000
5/10/2019 25763.72 26019.32 25469.86 25942.37 25942.37 294580000
5/13/2019 25568.06 25568.06 25222.51 25324.99 25324.99 361240000
5/14/2019 25384.03 25688.96 25384.03 25532.05 25532.05 291570000
5/15/2019 25400.13 25724.89 25341.94 25648.02 25648.02 270720000
5/16/2019 25692.14 25957.63 25692.14 25862.68 25862.68 320960000
5/17/2019 25719.95 25948.74 25657.78 25764 25764 283760000
5/20/2019 25655.31 25751.71 25560.55 25679.9 25679.9 279560000
5/21/2019 25782.34 25898.27 25779.61 25877.33 25877.33 260870000
5/22/2019 25818.46 25878.21 25755.11 25776.61 25776.61 241760000
5/23/2019 25657.99 25657.99 25328.09 25490.47 25490.47 316940000
5/24/2019 25551.07 25670.81 25496.2 25585.69 25585.69 201370000
5/28/2019 25616.55 25717.63 25342.28 25347.77 25347.77 358980000
5/29/2019 25231.46 25231.46 24938.24 25126.41 25126.41 298930000
5/30/2019 25139.94 25218.54 25066.75 25169.88 25169.88 215240000
5/31/2019 25046.31 25046.31 24809.51 24815.04 24815.04 292230000
6/3/2019 24830.16 24935.21 24680.57 24819.78 24819.78 328240000
6/4/2019 24962.82 25343.77 24962.82 25332.18 25332.18 281690000
6/5/2019 25451 25544.66 25373.58 25539.57 25539.57 262660000
6/6/2019 25567.45 25800.3 25518.05 25720.66 25720.66 248070000
6/7/2019 25768.72 26072.75 25768.72 25983.94 25983.94 263010000
6/10/2019 26090.22 26210.61 26054.31 26062.68 26062.68 249280000
6/11/2019 26180.59 26248.67 25998.87 26048.51 26048.51 253490000
6/12/2019 26040.3 26082.1 25958.66 26004.83 26004.83 223690000
6/13/2019 26036.94 26146.91 25995.71 26106.77 26106.77 213400000
6/14/2019 26076.36 26162.28 25988.09 26089.61 26089.61 208020000
6/17/2019 26108.53 26165.78 26049.8 26112.53 26112.53 199500000
6/18/2019 26228.88 26527.19 26227.76 26465.54 26465.54 273490000
6/19/2019 26490.16 26569.75 26415.05 26504 26504 240950000
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7/17/2020 26774.62 26808.43 26619.88 26671.95 26671.95 296460000
7/20/2020 26660.29 26765.02 26504.2 26680.87 26680.87 309390000
7/21/2020 26833.14 27025.38 26766.22 26840.4 26840.4 364930000
7/22/2020 26824.56 27035.24 26794.19 27005.84 27005.84 404340000
7/23/2020 26955.97 26973.85 26560.04 26652.33 26652.33 419800000
7/24/2020 26533.41 26625.7 26402.86 26469.89 26469.89 494170000
7/27/2020 26447.67 26625.46 26426.92 26584.77 26584.77 400930000
7/28/2020 26529.45 26556.84 26361.71 26379.28 26379.28 361090000
7/29/2020 26388.44 26602.45 26375.39 26539.57 26539.57 347580000
7/30/2020 26367.42 26374.93 25992.28 26313.65 26313.65 351540000
7/31/2020 26409.33 26440.02 26013.59 26428.32 26428.32 488050000
8/3/2020 26542.32 26707.26 26534.38 26664.4 26664.4 439380000
8/4/2020 26664.61 26832.72 26597.82 26828.47 26828.47 346350000
8/5/2020 26924.78 27221.67 26924.78 27201.52 27201.52 366000000
8/6/2020 27170.82 27394.1 27145.25 27386.98 27386.98 322460000
8/7/2020 27321.68 27456.24 27223.55 27433.48 27433.48 321170000
8/10/2020 27488.21 27803.86 27488.21 27791.44 27791.44 360340000
8/11/2020 27961.64 28154.88 27624.51 27686.91 27686.91 428220000
8/12/2020 27860.24 28043.89 27843.32 27976.84 27976.84 340210000
8/13/2020 27922.51 27986.1 27789.78 27896.72 27896.72 360160000
8/14/2020 27828.93 27977.81 27759.39 27931.02 27931.02 275540000
8/17/2020 27970.05 27999.81 27816.4 27844.91 27844.91 286860000
8/18/2020 27853.48 27891.12 27668.79 27778.07 27778.07 276170000
8/19/2020 27811.26 27920.42 27647.67 27692.88 27692.88 311460000
8/20/2020 27622.68 27781.46 27526.25 27739.73 27739.73 304550000
8/21/2020 27758.13 27959.48 27686.78 27930.33 27930.33 372720000
8/24/2020 28077.58 28314.94 28041.75 28308.46 28308.46 383880000
8/25/2020 28347.42 28400.74 28094.57 28248.44 28248.44 338420000
8/26/2020 28257.88 28353.8 28153.91 28331.92 28331.92 327070000
8/27/2020 28384.07 28634.22 28363.93 28492.27 28492.27 404340000
8/28/2020 28601.29 28733.35 28487.98 28653.87 28653.87 369740000
 Date Open High Low Close Adj Close Volume
1/2/2019 164.33 172.25 163.35 172.03 165.4881 3999400
1/3/2019 170.66 171.77 168.29 169.51 163.064 4060200
1/4/2019 172.99 176 171.1 175.05 168.3933 3788300
1/7/2019 175.23 177.83 172.27 176.02 169.3264 3152100
1/8/2019 177.78 178.1 172.9 175.37 168.7011 2692700
1/9/2019 176.1 177.69 174.91 176.47 169.7593 3321400
1/10/2019 175.66 178.07 175.5 176 169.3072 2808700
1/11/2019 175.1 177.04 172.42 176.93 170.2018 3182700
1/14/2019 174.52 179.54 174.1 178.72 171.9237 3361700
1/15/2019 178.32 179.99 176.4 179.91 173.0685 2911800
1/16/2019 187 198.15 185.6 197.08 189.5855 15194200
1/17/2019 195.95 199.8 192.83 199.09 191.5191 8177000
1/18/2019 200.38 203 196.91 202.54 194.8379 5650900
1/22/2019 200.5 201.47 195.92 197.68 190.1627 4648500
1/23/2019 197.55 198.09 194.53 196.9 189.4124 3410700
1/24/2019 196.22 199.68 195.76 197.8 190.2782 2631800
1/25/2019 199.83 201.19 199.42 200.74 193.1064 3275000
1/28/2019 197.99 200.07 197.1 199.72 192.1251 2369600
1/29/2019 199 201.97 197.87 200.5 192.8755 2694100
1/30/2019 200.9 203.29 199.65 202.48 194.7802 2773300
1/31/2019 200.1 202.35 196.95 198.01 190.4802 5604500
2/1/2019 198 199.64 196.54 196.54 189.0661 3174200
2/4/2019 195.8 197.76 194.79 197.72 190.2012 2400200
2/5/2019 198.12 199.33 196.86 198.01 190.4802 2601000
2/6/2019 197.18 199.06 195.83 196.62 189.143 2063100
2/7/2019 195.28 195.88 191.05 193.07 185.728 2948800
2/8/2019 191.72 192.62 188.22 191.67 184.3813 2757500
2/11/2019 192.88 193.32 191.07 191.33 184.0542 2056500
2/12/2019 193.05 195.65 193 194.49 187.0941 2392900
2/13/2019 195.92 198.78 194.6 194.69 187.2864 2757300
2/14/2019 192.21 194.13 189.44 192.53 185.2086 2865000
2/15/2019 193.21 198.89 193.1 198.5 190.9516 3065400
2/19/2019 196.66 199.06 195.61 198.67 191.1151 2558200
2/20/2019 198.73 199.3 197.51 198.6 191.0477 2266000
2/21/2019 198.97 199.45 195.05 196.36 188.8929 2785900
2/22/2019 196.6 197.75 195.2 196 188.5466 2626600
2/25/2019 198 201.5 197.71 198.65 191.0958 3032200
2/26/2019 198.47 200.56 196.55 198.9 191.3363 2499800
2/27/2019 198.5 199.89 197.12 198.1 191.3363 1804200
2/28/2019 198.04 198.4 196.01 196.7 189.9841 2964300
3/1/2019 198.75 201.44 197.43 198.2 191.4329 2580500
3/4/2019 198.81 200.83 194.15 195.98 189.2887 2683600
3/5/2019 195.85 196.18 193 196 189.308 2338600
3/6/2019 195.9 197.56 194.53 194.74 188.0911 2247500
 3/7/2019 193.13 193.45 190.08 192.77 186.1883 3567800
3/8/2019 190.4 195.77 189.71 195.24 188.574 3162700
3/11/2019 197.23 198.97 195.73 195.97 189.2791 2669000
3/12/2019 196 197.4 195.69 196.63 189.9165 1977400
3/13/2019 197.75 198.93 196.52 197.25 190.5154 1904500
3/14/2019 197.32 198.5 196.7 197.47 190.7279 1482300
3/15/2019 197.16 198.85 196.85 198.26 191.4909 2985200
3/18/2019 199.18 203.85 198.92 202.47 195.5571 3354900
3/19/2019 204.88 206.45 200.78 201.12 194.2532 3284900
3/20/2019 200.33 200.33 193.97 194.32 187.6854 5033500
3/21/2019 192.9 195.55 191.75 194.58 187.9365 4031500
3/22/2019 192.67 193.71 187.78 188.96 182.5084 5703100
3/25/2019 189.33 191.45 186.5 188.51 182.0737 3751000
3/26/2019 190.03 192.41 188.69 190.69 184.1793 2910100
3/27/2019 190.6 191.61 188.74 190.03 183.5419 2343800
3/28/2019 190.74 191.91 189.29 191.18 184.6526 2343400
3/29/2019 192.68 193.11 191.14 191.99 185.435 2632800
4/1/2019 194 198.09 193.61 196.74 190.0228 3562600
4/2/2019 196.24 197.76 195.4 197.5 190.7568 2247000
4/3/2019 199.25 201.09 198.54 200.86 194.0021 3227900
4/4/2019 200.8 204.29 200.5 202.23 195.3253 2582300
4/5/2019 203.38 205.5 202.06 202.38 195.4702 2447100
4/8/2019 202.79 203.63 201.18 202.54 195.6247 1891500
4/9/2019 201.23 201.59 198.86 200.62 193.7703 2400900
4/10/2019 201.8 203.17 200.27 202.98 196.0497 1907100
4/11/2019 204.23 205.45 201.57 202.83 195.9048 2802100
4/12/2019 207 209.97 206.37 207.84 200.7438 5096600
4/15/2019 204.11 205.74 199.7 199.91 193.0845 6617200
4/16/2019 199.62 202.94 199.24 201.84 194.9486 4852600
4/17/2019 201.96 208.5 201.78 207.9 200.8017 4195300
4/18/2019 207.09 207.86 205.15 205.91 198.8797 2874300
4/22/2019 205.12 205.59 204.14 204.6 197.6144 1591400
4/23/2019 204.25 205.19 202.74 204.14 197.1701 2120900
4/24/2019 203 203.52 199.73 200.54 193.693 4606100
4/25/2019 199.7 202.56 199.1 201.4 194.5237 2075300
4/26/2019 201.73 203.12 200.32 203.08 196.1463 1543100
4/29/2019 203.5 208 203.27 206.92 199.8552 2997000
4/30/2019 206.94 207.99 204.15 205.92 198.8893 1833000
5/1/2019 206.4 208.41 204.03 204.73 197.74 1981800
5/2/2019 204.43 206.22 203.12 204.99 197.9911 1514700
5/3/2019 206.01 208.75 205.67 207.52 200.4347 1897600
5/6/2019 202.8 206.98 201.71 206.43 199.3819 1927800
5/7/2019 203.34 204 201.01 202.63 195.7117 2839500
5/8/2019 201.4 203.2 200.8 200.95 194.089 1817600
5/9/2019 199.51 202.22 197.91 201.63 194.7458 2333400
5/10/2019 200.98 202.1 198.99 202.05 195.1515 2089400
5/13/2019 197.9 197.9 194 194.97 188.3132 3605600
5/14/2019 194.99 198.13 194.9 196.28 189.5785 2463300
5/15/2019 194.64 197.59 193.42 196.4 189.6944 2271100
5/16/2019 196.63 200 196.62 199.14 192.3408 2008100
5/17/2019 196.3 199.09 196.3 197.43 190.6892 1928300
5/20/2019 197.09 197.78 195.57 197.24 190.5057 2483400
5/21/2019 198.66 199.32 198 199.11 192.3118 2327600
5/22/2019 197.44 198.48 195.46 195.52 188.8444 2427200
5/23/2019 193 193 189.56 191.97 185.4156 3184100
5/24/2019 192.89 194.07 191.68 193 186.4105 1637200
5/28/2019 192 193.31 189.39 189.44 182.972 3040000
5/29/2019 187.74 188.65 184.92 188.05 182.4481 2815800
5/30/2019 188.09 189.37 186.01 187.37 181.7883 1919300
5/31/2019 184.77 184.89 182.31 182.49 177.0537 2640100
6/3/2019 181.7 183.49 180.73 183.19 177.7329 2857800
6/4/2019 186.18 189.99 185.71 189.88 184.2236 2420800
6/5/2019 190.1 190.16 187.01 188.44 182.8265 1967800
6/6/2019 188.06 190.74 187.31 189.81 184.1557 1653500
6/7/2019 189.88 190.61 188.52 189.81 184.1557 1838600
6/10/2019 191.4 197 191.4 194.12 188.3373 2372000
6/11/2019 195.3 196.12 193.51 194.73 188.9291 1632200
6/12/2019 193.61 194.05 189.83 190.22 184.5535 2059400
6/13/2019 190.41 192.25 190.07 191.45 185.7468 1411400
6/14/2019 191.29 192.17 189.31 191.66 185.9505 1403900
6/17/2019 192.02 193.23 190.74 190.83 185.1453 1155600
6/18/2019 190.67 197.13 190.67 194.98 189.1716 2363000
6/19/2019 195.35 197.61 194.79 195.64 189.812 2196800
6/20/2019 197.5 198.19 193.61 195.7 189.8702 2749300
6/21/2019 195.34 198.34 193.97 195.94 190.103 3365500
6/24/2019 196.53 199.35 196.03 197.49 191.6069 2069800
6/25/2019 197.5 197.52 194.01 196.06 190.2195 1828300
6/26/2019 196.5 197.87 196.12 197.01 191.1412 1649900
6/27/2019 197.57 199.61 196.76 199.32 193.3824 2239200
6/28/2019 203.5 205.84 202.94 204.6 198.5051 4854900
7/1/2019 208 209.85 205.74 206.86 200.6978 2465700
7/2/2019 205.4 206.31 204.16 205.98 199.8439 1621400
7/3/2019 207.3 207.4 205.23 206.04 199.9022 978800
7/5/2019 206.86 208.76 206.2 207.9 201.7068 1511400
7/8/2019 206.36 207.25 204.71 205.75 199.6208 1853900
7/9/2019 203.75 207.94 203.54 207.77 201.5807 1812100
7/10/2019 207.18 208.99 205.65 205.97 199.8343 1779800
7/11/2019 206.2 212.59 206 211.35 205.054 3691600
7/12/2019 212 214.19 210.79 213.94 207.5668 2626000
7/15/2019 214.11 214.6 209.79 211.58 205.2771 2600200
7/16/2019 214.8 217.33 212.55 215.52 209.0998 5283700
7/17/2019 213.83 215.78 213.16 213.3 206.9459 2583500
7/18/2019 212.71 215.83 211.75 214.52 208.1296 2858100
7/19/2019 214.02 215.77 213.35 213.52 207.1594 1822300
7/22/2019 213.4 214.86 212.31 214 207.6251 1907100
7/23/2019 214.95 220 214.95 219.43 212.8933 3330600
7/24/2019 219.25 222.09 218.63 222.03 215.4158 3180000
7/25/2019 221.77 221.77 218.23 219.98 213.4269 2776700
7/26/2019 220.45 222.24 220.37 222.14 215.5226 2304500
7/29/2019 221 222.13 220.2 220.32 213.7568 1372800
7/30/2019 218.49 221.99 217.33 221.4 214.8046 1644600
7/31/2019 221.24 221.98 219.01 220.13 213.5724 1991100
8/1/2019 219.35 219.95 210.76 211.6 205.2966 3070100
8/2/2019 211.58 211.58 205.31 209.37 203.133 2503000
8/5/2019 205.82 205.82 199.58 201.68 195.6721 2794200
8/6/2019 203.56 206.07 200.89 206.01 199.8731 2349400
8/7/2019 201.11 205.96 199.05 205.74 199.6111 2454200
8/8/2019 207.17 207.8 203.54 207 200.8336 2342200
8/9/2019 205.62 208.3 203.86 206.9 200.7365 1790100
8/12/2019 203.28 204.15 200.48 201.52 195.5168 1479300
8/13/2019 201.51 206.6 200.23 204.11 198.0297 2115900
8/14/2019 199.8 199.91 195.06 195.56 189.7344 3025100
8/15/2019 195.91 196.97 193.71 196.18 190.3359 1981900
8/16/2019 197.03 200.67 197 199.42 193.4794 1878700
8/19/2019 203.81 204.45 201.82 202.2 196.1766 1646100
8/20/2019 200.21 201.99 199.7 199.98 194.0227 1545600
8/21/2019 202.74 203.02 200.17 200.68 194.7019 1160800
8/22/2019 202.28 203.45 200.91 202.42 196.39 1275900
8/23/2019 200.81 201.88 195.19 196.2 190.3553 2200500
8/26/2019 198.27 199.71 198 199.65 193.7025 1441900
8/27/2019 200.33 200.86 196.5 198.07 192.1696 1513300
8/28/2019 196.57 201.47 196.25 200.42 194.4496 1437800
8/29/2019 201.36 204.37 201.36 203.44 198.6184 1816800
8/30/2019 204.85 205.21 203.01 203.91 199.0773 1529600
9/3/2019 201.1 201.61 196.58 198.97 194.2543 2633600
9/4/2019 201.49 202.1 200.05 201.73 196.9489 1720600
9/5/2019 205.27 208.93 205.04 207.05 202.1428 2237900
9/6/2019 207.06 208.25 205.57 207.21 202.299 1438800
9/9/2019 209.22 213.88 208.44 211.98 206.956 2734500
9/10/2019 213.5 217.09 213.22 215.63 210.5195 2615800
9/11/2019 215.21 216.85 213.36 216.8 211.6618 1886300
9/12/2019 216.38 220.76 215.15 218.74 213.5558 2913800
9/13/2019 220.35 221.5 219.2 219.9 214.6883 2722400
9/16/2019 217.82 219.33 216.32 217.22 212.0718 2205500
9/17/2019 215.8 216.14 212.54 215.91 210.7929 2429100
 9/18/2019 214.83 217.89 213.3 217.08 211.9351 2474900
9/19/2019 217.58 217.93 215.06 215.23 210.129 1596200
9/20/2019 214.66 216.68 213.63 213.74 208.6743 5458900
9/23/2019 212.85 214.11 211.56 213.46 208.4009 1485500
9/24/2019 214.04 214.2 206.8 207.75 202.8262 2837600
9/25/2019 207.96 211.09 207.45 210.03 205.0522 1593400
9/26/2019 209.05 209.97 208.11 208.22 203.2851 1685500
9/27/2019 209.85 210.55 208.09 208.97 204.0173 1530900
9/30/2019 209.71 209.71 206.83 207.23 202.3186 1794500
10/1/2019 207.01 209.38 202.61 202.69 197.8862 3156200
10/2/2019 201.69 201.88 197.6 198.25 193.5514 3386800
10/3/2019 197.61 198.37 193.99 197.24 192.5654 2914500
10/4/2019 196.99 201.23 196.04 200.8 196.041 3021100
10/7/2019 200.79 202.53 199.47 200.4 195.6504 2202200
10/8/2019 197.6 198.95 195.92 197.37 192.6922 2654900
10/9/2019 198.19 198.98 196.68 196.85 192.1846 2443500
10/10/2019 197.59 201.32 197.54 199.87 195.133 2108000
10/11/2019 203.72 207.29 203.72 204.68 199.829 3334300
10/14/2019 203.83 206.17 202.92 205.82 200.942 2286100
10/15/2019 202 208.24 198.61 206.46 201.5668 8241900
10/16/2019 206.17 208.62 206.1 207.42 202.5041 3405800
10/17/2019 208.29 208.93 204.39 206.46 201.5668 2876500
10/18/2019 204.99 208.06 204.99 206.52 201.6254 2207000
10/21/2019 208.67 210.86 207.68 209.25 204.2907 1934900
10/22/2019 209.59 211.65 208.31 209.6 204.6324 1868000
10/23/2019 209.22 212.02 209 211.32 206.3116 1574500
10/24/2019 211.61 213.15 209.78 211.05 206.048 1266500
10/25/2019 210.18 215.42 210.18 214.23 209.1527 2602100
10/28/2019 216.32 218.92 215.69 217.75 212.5892 2707800
10/29/2019 217.22 219.28 216.45 217.64 212.4819 2030800
10/30/2019 217.02 217.05 213.81 215.81 210.6952 1584900
10/31/2019 215.15 215.36 211.32 213.38 208.3228 1876200
11/1/2019 215.26 217.89 214.75 217.39 212.2378 2112300
11/4/2019 219.7 220.69 218.57 219.87 214.659 2538100
11/5/2019 220.8 221.78 218.47 218.64 213.4582 2525100
11/6/2019 218.01 219.07 216.55 218.42 213.2434 1863000
11/7/2019 220.77 224.77 220.41 223.29 217.9979 3748600
11/8/2019 223 223.23 221.1 222.91 217.627 1610800
11/11/2019 220.9 221.41 218.52 219.03 213.8389 2754500
11/12/2019 218.56 221.11 217.93 220.41 215.1862 1891600
11/13/2019 218.39 219.84 217.01 219.32 214.122 1756000
11/14/2019 218.79 220.47 218.03 219.43 214.2294 1483100
11/15/2019 220 221.09 219.04 220.25 215.03 1693100
11/18/2019 219.73 219.95 218.04 219.73 214.5223 1603400
11/19/2019 220.56 220.68 218.31 220.04 214.825 1817100
11/20/2019 218.36 219.47 216.4 217.91 212.7455 2177700
11/21/2019 218.6 219.32 216.82 218.23 213.0579 1677700
11/22/2019 218 220.71 218 220.28 215.0593 1529100
11/25/2019 220.89 223.95 220.89 222.75 217.4707 2181800
11/26/2019 222.68 222.76 221.11 222.45 217.1779 1926300
11/27/2019 223.45 224.28 221.86 222.95 217.666 1614600
11/29/2019 220.88 222 220.41 221.35 217.3224 770400
12/2/2019 220.97 221.8 217.08 217.64 213.6799 2118500
12/3/2019 215.43 215.43 210 212.24 208.3781 3207100
12/4/2019 213.54 216.99 212.38 215.94 212.0108 1583600
12/5/2019 217.15 217.63 215.42 217.14 213.189 1329300
12/6/2019 219.95 225.4 218.82 224.61 220.5231 4229400
12/9/2019 224.61 224.65 221.77 221.81 217.774 2134600
12/10/2019 221.67 222.88 220.55 221.88 217.8427 1854100
12/11/2019 222.25 222.85 220.84 221.19 217.1653 1778600
12/12/2019 221.91 226.78 220.6 226.05 221.9368 2974300
12/13/2019 226.72 227.99 223.7 225 220.9059 1908200
12/16/2019 228.5 230.7 227.87 228.04 223.8906 3218400
12/17/2019 230 232.07 228.8 231.15 226.9441 3590000
12/18/2019 231.97 232.2 229.94 230.45 226.2568 2280800
12/19/2019 230.95 231.39 228.96 229.94 225.7561 2418100
12/20/2019 230.96 231.29 228.62 228.93 224.7644 3715500
12/23/2019 229.66 230.48 228.41 229.09 224.9215 1670400
12/24/2019 228.98 229.95 228.37 229.91 225.7266 467700
12/26/2019 230.26 232.2 229.99 231.21 227.003 1704000
12/27/2019 231.81 232.21 230.47 230.66 226.463 1343900
12/30/2019 231.68 231.68 229.5 229.8 225.6186 1494500
12/31/2019 229.71 229.97 228.67 229.93 225.7462 1447200
1/2/2020 231 234.64 230.16 234.32 230.0564 3736300
1/3/2020 231.6 232.61 230.3 231.58 227.3662 2274500
1/6/2020 229.93 234.02 229.49 233.95 229.6931 3329300
1/7/2020 235 237.77 234.76 235.49 231.2051 5255200
1/8/2020 235.68 239.75 235.48 237.76 233.4338 3564700
1/9/2020 241.34 243.4 239.82 242.6 238.1857 3980700
1/10/2020 242.75 243.39 241.39 242.11 237.7046 2248100
1/13/2020 244.44 246.11 243 245.21 240.7482 3359200
1/14/2020 245.32 248.52 244.6 245.66 241.19 4302800
1/15/2020 242 249.5 239.16 245.21 240.7482 5411200
1/16/2020 247.01 249.82 246.23 249.72 245.1762 3968400
1/17/2020 250.23 250.46 248 249.46 244.9209 3108400
1/21/2020 247.21 248.85 245.6 245.7 241.2293 2492400
1/22/2020 246.61 248.52 246.34 247.05 242.5548 2030900
1/23/2020 244.5 247 242.88 245.58 241.1115 2806800
1/24/2020 245.07 245.71 240.6 241.92 237.5181 2877400
1/27/2020 236.37 238.99 235.01 238.14 233.8069 2506200
1/28/2020 239.49 243.58 238.05 242.58 238.1661 3123000
1/29/2020 244.52 246.5 239.57 240.12 235.7508 3711600
1/30/2020 237.69 244.34 236.73 244.13 239.6879 3261700
1/31/2020 241.99 242.89 236.88 237.75 233.424 3482800
2/3/2020 238.36 242.39 238.05 239.01 234.661 2733000
2/4/2020 242.88 243.74 241.55 241.94 237.5377 3052500
2/5/2020 244.99 245.13 243 244.3 239.8548 3126600
2/6/2020 245.35 245.77 241.18 241.82 237.4199 2225600
2/7/2020 239.75 240.52 236.55 238 233.6694 3006500
2/10/2020 237.4 237.87 235.46 237.36 233.0411 2591300
2/11/2020 239 239.55 236.22 236.46 232.1574 2238800
2/12/2020 238.01 241.18 237.72 238.65 234.3076 2119200
2/13/2020 237.85 238.97 236.57 238.35 234.013 1461300
2/14/2020 237.94 239.01 236.23 237.08 232.7661 1718700
2/18/2020 236.55 237.07 231.2 233.21 228.9666 2736500
2/19/2020 235 237.8 233.28 237.33 233.0116 2207100
2/20/2020 236.41 236.9 231.25 232.73 228.4953 3183700
2/21/2020 230.91 231.8 228.37 230.62 226.4237 3081600
2/24/2020 223.23 226.69 222.54 224.54 220.4543 4139400
2/25/2020 224.78 225.87 215.89 217.61 213.6504 5343100
2/26/2020 218.7 220 214.76 215.78 211.8537 4171100
2/27/2020 210.49 213.48 205.37 205.69 201.9473 5848200
2/28/2020 199.09 202.25 194.85 200.77 198.3221 6740700
3/2/2020 201.41 209.62 197.63 209.47 206.916 5285500
3/3/2020 209 211.79 202.12 203.43 200.9496 5677200
3/4/2020 205.84 208.92 202.7 208.74 206.1949 3520400
3/5/2020 201.33 203.47 196.95 198.79 196.3662 4151500
3/6/2020 190.68 196.3 189.28 192.85 190.4986 5071900
3/9/2020 173.58 179.25 170.16 172.81 170.703 6443000
3/10/2020 181.62 185.4 173.29 184.35 182.1023 6803900
3/11/2020 178.48 180.77 170.97 171.89 169.7942 5314000
3/12/2020 160 166.75 150 150.68 148.8428 8357700
3/13/2020 162.82 177.56 152.35 177.17 175.0098 6368400
3/16/2020 150.23 169.54 150 154.66 152.7743 6888000
3/17/2020 157 166.74 150 158.67 156.7354 6876300
3/18/2020 150 155.97 135.41 140.02 138.3128 9543200
3/19/2020 137.38 152.49 130.85 149.49 147.6673 6548200
3/20/2020 148.99 149.19 138.29 138.41 136.7224 7561300
3/23/2020 136.03 141.94 133.26 134.97 133.3243 5472600
3/24/2020 144.32 153.9 143.63 153.6 151.7272 6647400
3/25/2020 154.6 162.21 145.32 155.13 153.2386 8587800
3/26/2020 156.37 167.66 154.31 165.79 163.7686 6762200
3/27/2020 159.08 163.73 157 158.34 156.4094 4186700
3/30/2020 158.52 160.43 153.18 159.62 157.6738 4151700
3/31/2020 158.13 161.1 153.72 154.59 152.7051 3588200
 4/1/2020 146.1 149.57 145 145.29 143.5185 4689100
4/2/2020 143.02 150.45 141.67 149.93 148.1019 4446900
4/3/2020 149.2 150.92 145.23 146.93 145.1385 2801600
4/6/2020 155.47 158.93 153.77 158.23 156.3008 4689400
4/7/2020 166 169.14 162.45 166.02 163.9958 4953500
4/8/2020 168.55 178.1 168.55 176.96 174.8024 5194800
4/9/2020 180.58 187.33 179.77 184.26 182.0134 6449900
4/13/2020 183.85 184.97 179.13 179.18 176.9953 4774300
4/14/2020 182.35 183.38 174.54 178.23 176.0569 4149600
4/15/2020 170.63 181.68 169.15 178.52 176.3434 6042700
4/16/2020 177.22 178.44 172.39 177.04 174.8814 4662200
4/17/2020 183.49 185.28 178.29 183.49 181.2528 5426700
4/20/2020 179.7 186.32 178.02 180.4 178.2004 4674800
4/21/2020 175.44 179.2 173.66 173.81 171.6908 3819000
4/22/2020 177.5 178.18 174.47 175.98 173.8343 2316600
4/23/2020 177 179.07 174.45 175.05 172.9157 2013300
4/24/2020 177 177.95 173.49 177 174.8419 2024400
4/27/2020 179.1 184.25 178.72 183.54 181.3022 2743100
4/28/2020 189.16 190.42 184.87 187.01 184.7298 3344700
4/29/2020 192.61 193.72 189.57 190.03 187.713 3086300
4/30/2020 186 187.55 182.9 183.42 181.1836 2695400
5/1/2020 179 179.6 176.65 177.1 174.9407 2650200
5/4/2020 175 176.31 171.72 176.03 173.8837 2990100
5/5/2020 179.1 182.6 178.14 178.3 176.126 3272600
5/6/2020 179.68 181.2 175.21 176.92 174.7629 2408700
5/7/2020 179.18 183.38 179.18 182.32 180.097 2480100
5/8/2020 185.03 185.91 182.74 185.39 183.1296 2282600
5/11/2020 182.54 184.85 181.26 183.16 180.9268 2212200
5/12/2020 183.89 184.3 176.75 177.21 175.0493 3549200
5/13/2020 175.66 176.88 170.76 171.8 169.7053 3445300
5/14/2020 169.04 174.78 165.36 174.45 172.323 4176700
5/15/2020 173.48 174.09 170.58 171.87 169.7744 2867800
5/18/2020 177.71 183.1 175.24 181.88 179.6624 4512600
5/19/2020 180.56 182.19 177.72 177.83 175.6618 2210500
5/20/2020 180.95 183.83 180.3 181.44 179.2278 2599900
5/21/2020 180.2 181.17 177.68 180.1 177.9041 2153500
5/22/2020 180.03 180.64 178.06 179.93 177.7361 2176400
5/26/2020 185.63 197.1 185.22 196.06 193.6695 5971200
5/27/2020 203 210.71 200.01 209.66 207.1037 8182100
5/28/2020 210.84 211.31 201.21 201.22 198.7666 4886100
5/29/2020 197.23 200.92 194.65 196.49 195.3075 3824500
6/1/2020 197.31 201.77 195.12 199.93 198.7268 2230800
6/2/2020 203.77 206.5 201.32 204.14 202.9115 4128700
6/3/2020 208.49 211.93 206.43 210.57 209.3028 3471900
6/4/2020 208.79 214.99 207.96 214.82 213.5272 3522300
 6/5/2020 222 222.98 217.66 217.92 216.6086 4737600
6/8/2020 220.02 222.26 218.24 220.81 219.4812 3260300
6/9/2020 215.74 220.02 215.16 218.1 216.7875 2478400
6/10/2020 217.39 219.85 212.8 213.52 212.235 3091200
6/11/2020 204.7 206.9 194.02 194.13 192.9617 4923400
6/12/2020 200.62 202.94 196.21 201.78 200.5657 3380800
6/15/2020 195.73 206.99 195.15 206.31 205.0684 3467400
6/16/2020 214.98 214.98 203.73 209.59 208.3287 3099100
6/17/2020 210 210.79 205.44 206.19 204.9492 1798300
6/18/2020 203.99 207.26 202.67 203.84 202.6133 2051700
6/19/2020 207.05 207.42 200.97 201.63 200.4166 4962400
6/22/2020 200.99 204.58 200 203.42 202.1958 1806900
6/23/2020 206.5 207.51 203.64 204.78 203.5476 2451800
6/24/2020 202.34 202.61 197.38 198.02 196.8283 2756700
6/25/2020 197.86 207.39 197.61 207.1 205.8537 3466500
6/26/2020 199 200.24 188.51 189.19 188.0515 9530700
6/29/2020 191.38 193.9 188.66 193.47 192.3057 3736000
6/30/2020 193.84 198.41 193.62 197.62 196.4307 3102800
7/1/2020 198.88 199.74 195.52 197.57 196.381 2620100
7/2/2020 202.5 203 197.13 197.4 196.2121 2699400
7/6/2020 201.34 207.79 201.13 207.36 206.1121 3567700
7/7/2020 205.5 205.71 199.19 199.36 198.1603 2853500
7/8/2020 199.54 203.25 199.02 202.25 201.0329 2789700
7/9/2020 202.11 202.5 195 196.83 195.6455 3160100
7/10/2020 196.87 206.32 196.83 205.56 204.3229 4414800
7/13/2020 209 212.98 207 208.88 207.623 4449600
7/14/2020 211.43 214.3 207.01 214.01 212.7221 5202000
7/15/2020 224.37 225.24 214.69 216.9 215.5947 12516700
7/16/2020 213.51 220.46 213.5 214.67 213.3781 5769600
7/17/2020 214.9 215.17 211.25 211.41 210.1377 3614300
7/20/2020 210.73 213.17 210.25 211.71 210.4359 2268700
7/21/2020 212.25 213.81 210.39 212.02 210.7441 3394200
7/22/2020 210.5 211 205.35 206 204.7603 4978400
7/23/2020 205.1 206.02 202.05 203.02 201.7982 4088600
7/24/2020 203 204.93 201.32 201.47 200.2576 3191500
7/27/2020 200.1 204.18 199.59 203.02 201.7982 2601200
7/28/2020 201.91 203.6 201.09 201.62 200.4066 2139600
7/29/2020 201.7 203.89 199.62 202.58 201.3609 2635000
7/30/2020 199.5 199.99 196.3 199.53 198.3292 3057900
7/31/2020 199.84 199.84 196.51 197.96 196.7687 2401100
8/3/2020 198.49 199.88 196.53 199.39 198.1901 2294600
8/4/2020 199.35 201.72 198.48 201.64 200.4265 1944700
8/5/2020 203.17 204.81 203.01 204.52 203.2892 2323200
8/6/2020 205 206.29 203.83 204.25 203.0208 1882400
8/7/2020 203.48 208.8 202.45 208.27 207.0166 3073800
8/10/2020 209.59 210.64 208.04 209.38 208.12 2432800
8/11/2020 212.72 216.95 210.53 211.06 209.7898 4042700
8/12/2020 214.7 215.95 209.27 212.13 210.8534 2439400
8/13/2020 210.41 212.2 207.69 208.39 207.1359 2219900
8/14/2020 207.46 209.48 206.61 207.97 206.7184 2287600
8/17/2020 207 207.85 202.53 203.07 201.8479 3922600
8/18/2020 203.45 203.58 201.1 201.31 200.0985 3067900
8/19/2020 202.4 206.1 201.77 203.02 201.7982 2458500
8/20/2020 200.76 203.28 200.34 201.85 200.6353 1764200
8/21/2020 200.11 203.35 199.82 202.43 201.2118 1780900
8/24/2020 203.11 207.43 201.32 207.34 206.0922 3097400
8/25/2020 209.99 210.49 205.17 206 204.7603 2627600
8/26/2020 205.89 207.28 205.03 207.22 205.973 2563200
8/27/2020 206.68 213 206.41 210.15 208.8853 3692400
8/28/2020 211.89 212 207.09 207.71 206.46 3697400
Nombre de la compañía Price Sales UPA PER Market Cap
JP MORGAN 102.77 118,976 7.55 13.62 308.42
GOLDMAN SACKS 207.7 36,729 13.18 15.76 71.41
CITIGROUP 52.28 77,449 6.75 7.75 93.54

PROMEDIO 9.16
MEDIANA 7.5

UPA P/E
9.16 12.4
13.18 ###

JP Morgan
 Valuation
Valor en libros EBITDA EBIT EV/Sales EV/EBITDA EV/EBIT P/E
77.86 74,268 65,638 385.8 0.0042 0.0047 14
228.25 10,425 8,552 514.3 0.0068 0.0084 16
96.81 47,162 43,287 828.0 0.0020 0.0022 8

576.0 0.00433 0.00507 12.4

514.3 0.00415 0.00470 13.6

INFORMACIÓN TOMADA DE YA
GOLDMAN SAC
RMACIÓN TOMADA DE YAHOO! FINANCE
GOLDMAN SACKS
CITYGROUP
ANÁLISIS DE COMPARABLES

Nombre de la compañía Share Price Sales UPA Market Cap

JP MORGAN 102.77 118,976 7.55 308,420,000
CITIGROUP 52.28 77,449 6.75 93,540,000

PROMEDIO 7.15
MEDIANA 7.1

GOLDMAN SACKS
ASPECTO EVALUADO PROMEDIO COMPARABLE VALORACIÓN
UPA 1.4 $ 15
EBITDA $ 1,500 $ 4,602,131
EBIT $ 150 $ 514,480

INFORMACIÓN TOMADA DE YAHOO! FINANCE

JP Morgan
 Valuation
Valor en libros EBITDA EBIT EV/Sales EV/EBITDA EV/EBIT
77.86 74,268 65,638 0.0004 4,152.8 4,698.8
96.81 47,162 43,287 0.0008 1,983.4 2,160.9

0.0006 3,068.1 3,429.9

0.0006 3,068.1 3,429.9
 ANÁLISIS TRANSACCIONES PRECEDENTES

Target Transaction Value Buyers

P/E Banco Agricol El Salvador 900 Bancolombia
13.62 Colmena 115 HSBC
7.75 Helm Bank 299 Itau

10.7 PROMEDIO
10.7 MEDIANA

Goldman Sacks 119.188

TRM
2,196,726,000 574,405
5,394,780,000 1,410,640

HSBC
 Valuation
EV/Sales EV/EBITDA EV/EBIT P/E Sales EBITDA EBIT
0.21887 3.15 3.15 14.58 $ 4,112 1,985,045 1,985,045
0.00188 4.70 15.51 25.29 $ 61,182 17,350,000 5,258,000
0.01762 0.28 0.33 12.32 $ 16,965 144,222,222 123,933,333

0.0795 2.7114 6.3294 17.3967

0.0176 3.1536 3.1536 14.5800

3824.35 0.18
- 1,408,000 - 7,822,222 5,258,000
23,716,000 131,755,556 12,092,000
3,652,000 20,288,889

CITYGROUP
 Share Price UPA Market Value
26.33 1.8 $ 6,260,000
20.13 0.8 $ 81,540,000
4.30 0.3 $ 40,500,000

P I
ITAU
CIB
Football Field Chart

Open Low High Close

Comps 52 52 208 208
Precedents 4.30 4.3 26.33 26.33
DCF 10 10 15 14.91
52 wk hi/lo 135 135 250 249.72

Valuation Summary
$310

$260

$210

$160

$110

$60

$10
Comps Precedents DCF 52 wk hi/lo
52 wk hi/lo