And a recent analysis by the independent Kaiser Family Foundation found that, based
on FY 2016 data, the policy could mean that health care providers in 37 countries will be prohibited from providing medical care that is legal in their country.
As for earnings, we can't assume the same trajectory going forward, but looking ahead to consensus estimates a 20.0 Price / Earnings multiple (based
on FY - 2015 adjusted diluted EPS) does appear justified:
In my book, that kind of margin continues to deserve a 3.0 Price / Sales multiple, based
on my FY - 2015 turnover estimate of EUR 57.4 million.
Let's look to operating margins instead: Since the company enjoys generous operating cash flows & limited net capex, we'll focus
on FY - 2013 operating free cash flow of EUR 35 million.
Unfortunately, we still see negative operating free cash flow as the company continues to invest heavily in its platform (though it should turn positive
on a FY basis)...
Despite this, the shares are priced at a 1.1 P / B, a 9.6 P / E (LTM, and P / E should drop significantly
on FY results), and offer a 5.0 % yield.
Since I was working off LTM figures (which included a poorer H2 2010), I suspected the P / E would drop, and RoE rise, based
on FY results.
Assuming that net income margin is 10.4 %, average of the previous 5 years, net income would come in at $ 800 M based
on FY 2015's estimate of $ 7.67 B in revenue.
This is based off net management fees, and an annual «top - up» dividend based
on FY performance is also intended, equating to a minimum 6.5 % dividend yield.
My last post relied
on FY - 2013 figures — since then, the company's enjoyed consistent revenue momentum of +24 % in FY - 2014, +19 % yoy in H1 - 2015 & an accelerated +37 % yoy in Q3 - 2015, while net cash increased over 150 % to $ 5.4 million.
DOT has already enforced these provisions by terminating communities» subsidy eligibility based
on FY 2013, 2014, and 2015 data.
Report to Congress
on FY 2013 Transportation Infrastructure Finance and Innovation Act (TIFIA) Letters of Interest and Applications
[2] All changes based
on FY 16 - 17 enacted budget, which does not include distributions to allotments from reserves for salaries and benefits.
May 28, 2014: NSBA letter to Full House Appropriations Committee
on FY 2015 Funding for School Nutrition NSBA supports funding for school kitchen equipment modernization & flexibility for school districts struggling with child nutrition regulations.
Examples of OESE guidance documents being withdrawn include those relating to the 1994 amendments to the ESEA (Cross-Cutting Guidance to the Elementary and Secondary Education Act), to long ago appropriations (Guidance
on the FY 2000 Appropriation for School Improvement), to grant programs that no longer exist (Gulf Coast Recovery Grant Initiative), and to policy letters to States under NCLB (NCLB Policy Letters to States — Use of Funds for Districts and Schools Identified for School Improvement).
The U.S. Department of Energy (DOE) released Ames Laboratory's Performance Evaluation Report Card for FY 2017, and the results show the Laboratory improved
on its FY 2016 performance and now exceeds expectations in a majority of the key performance areas measured.
SI: There are two tables in the report
on FY 2010 funding for STEM education that, when combined, show a total figure of $ 1.2 billion.
Letter from AAAS CEO Rush Holt to Deputy Attorney General Rod Rosenstein Regarding Fingerprint Reporting Guidelines [March 28, 2018] AAAS Statement
on FY 2018 Omnibus Bill Funds for Scientific Research [March 23, 2018] AAAS Statement
on FY 2018 Omnibus Funding Bill [March 22, 2018] AAAS CEO Rush Holt Statement on Death of Rep. Louise Slaughter [March 16, 2018] AAAS CEO Urges U.S. President and Congress to Lift Funding Restrictions on Gun Violence Research [March 13, 2018] AAAS Statements on Elections and Paper Ballots [March 9, 2018] AAAS Statement on President's 2019 Budget Plan [February 12, 2018] AAAS Statement
on FY 2018 Budget Deal and Continuing Resolution [February 9, 2018] AAAS Statement on President Trump's State of the Union Address [January 30, 2018] AAAS Statement on Continuing Resolution Urges FY 2018 Final Omnibus Bill [January 22, 2018] AAAS Statement on U.S. Government Shutdown [January 20, 2018] Community Statement to OMB on Science and Government [December 19, 2017] AAAS CEO Response to Media Report on Use of «Science - Based» at CDC [December 15, 2017] Letter from AAAS and the American Physical Society to Iranian President Hassan Rouhani Regarding Scientist Ahmadreza Djalali [December 15, 2017] Multisociety Letter Conference Graduate Student Tax Provisions [December 7, 2017] Multisociety Letter Presses Senate to Preserve Higher Education Tax Benefits [November 29, 2017] AAAS Multisociety Letter on Tax Reform [November 15, 2017] AAAS Letter to U.S. House of Representatives Ways and Means Committee on Tax Cuts and Jobs Act (H.R. 1)[November 7, 2017] AAAS Statement on Release of National Climate Assessment Report [November 3, 2017] AAAS Statement on EPA Science Adviser Boards [October 31, 2017] AAAS Statement on EPA Restricting Scientist Communication of Research Results [October 25, 2017] Statement of the Board of Directors of the American Association for the Advancement of Science on Scientific Freedom and Responsibility [October 18, 2017] Scientific Societies» Letter on President Trump's Visa and Immigration Proclamation [October 17, 2017] AAAS Statement on U.S. Withdrawal from UNESCO [October 12, 2017] AAAS Statement on White House Proclamation on Immigration and Visas [September 25, 2017] AAAS Statement from CEO Rush Holt on ARPA - E Reauthorization Act [September 8, 2017] AAAS Speaks Out Against Trump Administration Halt of Young Immigrant Program [September 6, 2017] AAAS Statement on Trump Administration Disbanding National Climate Assessment Advisory Committee [August 22, 2017] AAAS CEO Rush Holt Issues Statement On Death of Former Rep. Vern Ehlers [August 17, 2017] AAAS CEO Rush Holt and 15 Other Science Society Leaders Request Climate Science Meeting with EPA Administrator Scott Pruitt [July 31, 2017] AAAS Encourages Congressional Appropriators to Invest in Research and Innovation [July 25, 2017] AAAS CEO Urges Secretary of State to Fill Post of Science and Technology Adviser [July 13, 2017] AAAS and ESA Urge Trump Administration to Protect Monuments [July 7, 2017] AAAS Statement on House Appropriations Bill for the Department of Energy [June 28, 2017] Scientific Organizations Statement on Science and Government [June 27, 2017] AAAS Statement on White House Executive Order on Cuba Relations [June 16, 2017] AAAS Statement on Paris Agreement on Climate Change [June 1, 2017] AAAS Statement from CEO Rush Holt on Fiscal Year 2018 Budget Proposal [May 23, 2017] AAAS thanks the Congress for prioritizing research and development funding in the FY 2017 omnibus appropriations [May 9, 2017] AAAS Statement on Dismissal of Scientists on EPA Scientific Advisory Board [May 8, 2017] AAAS CEO Rush Holt Statement
on FY 2017 Appropriations [May 1, 2017] AAAS CEO Statement on Executive Order on Climate Change [March 28, 2017] AAAS leads an intersociety letter on the HONEST Act [March 28, 2017] President's Budget Plan Would Cripple Science and Technology, AAAS Says [March 16, 2017] AAAS Responds to New Immigration Executive Order [March 6, 2017] AAAS CEO Responds to Trump Immigration and Visa Order [January 28, 2017] AAAS CEO Rush Holt Statement on Federal Scientists and Public Communication [January 24, 2017] AAAS thanks leaders of the American Innovation and Competitiveness Act [December 21, 2016] AAAS CEO Rush Holt raises concern over President - Elect Donald Trump's EPA Director Selection [December 15, 2016] AAAS CEO Rush Holt Statement Following the House Passage of 21st Century Cures Act [December 2, 2016] Letter from U.S. scientific, engineering, and higher education community leaders to President - elect Trump's transition team [November 23, 2016] Letter from AAAS CEO Rush Holt to Senate Leaders and Letter to House Leaders to pass a FY 2017 Omnibus Spending Bill [November 15, 2016] AAAS reaffirms the reality of human - caused climate change [June 28, 2016]
Testimony at the Joint Legislative Public Hearing
on the FY 2017 Executive Budget — Workforce Development
Testimony to Senate Finance Committee and Assembly Ways and Means Committee - Joint Legislative Public Hearings
on the FY 2013 - 2014 Executive Budget Proposal (February 12, 2013)
❥ Fier teens chat Unlimited dating and chats
on Fier chat meeting.
Not exact matches
Comment: Despite some macro slowdown and stock market gyrations in China, we remain confident in our $ 625 million forecast for
FY 2016 even at current exchange rates and optimistic
on the prospects for this market over the long - term as the drivers we've consistently mentioned are more relevant than ever,» said CEO Victor Luis.
It would set
FY 2019 defense budget authority at $ 716 billion, the total amount requested by President Trump (including OCO) and slightly lower than CBO's baseline amount, but increase defense spending
on net over the budget window.
As we enter
FY» 13, macroeconomic uncertainty remains high, putting pressure
on the near - term profitability of many global companies.
Dollar General is one of America's fastest - growing retailers that is currently listed # 128
on the Fortune 500 list and posted $ 22 billion in
FY 2016 sales.
Valuation — with regards to valuation of the company at $ 240 per share, this includes valuing the business at $ 216 per share (at 18x our
FY 2016 earnings estimate of $ 12 per share) plus net cash per share of $ 24 ($ 150 billion of net cash less the tax effect
on international cash for repatriation, which we estimate to ultimately be 6 %, and for simplicity purposes, apply to all cash
on balance sheet rather than just the international cash).
In addition, we are forecasting Stuart Weitzman brand sales to be in the area of $ 335 million
on a dollar basis for fiscal 2016, an increase of about 10 % from
FY 2015 driving Coach, Inc. consolidated revenue growth to high - single digits and adding about $ 0.09 to earnings per diluted share excluding charges associated with financing, short - term purchase accounting adjustments, contingent payments and integration costs.
In - line Revenue and Strong Performance
on Adjusted EBITDA and Free Cash Flow;
FY 2018 Guidance Reaffirms Long - Term Goals
As our model forecasts, despite more than 30 % growth in R&D annually through
FY 2017 to $ 13.5 billion (up from $ 1.8 billion in
FY 2010) and your updated capital return program, Apple's net cash position (currently the largest of any company in history) will continue to build
on the balance sheet.
I was wondering when you referenced G&A in that normalized — is
FY»11 sort of the growth rate in G&A, is that a normalized period around that 7 % or so or 8 % growth rate
on the G&A line?
Mac — in a declining PC industry, we expect Mac to continue its market share gain and support our forecast for its strong performance of 7.3 % revenue growth in
FY 2015, followed by 3.6 % in
FY 2016, and 4.6 % in
FY 2017
on flat average selling prices over the three year period of $ 1,230.
Jane Nielsen will follow with details
on financial and operational results for the quarter, along with our outlook for
FY 2016.
A macro trade entirely built around the framework of «US domestic growth and reflation» + pro-business policy mix + a sprinkling of «animal spirits» = long Spooz / long Russell / long value vs growth / long cyclicals vs defensives / short
FY / short Eurodollar futs (largest net spec shorts ever recorded per last Friday's CFTC data) / long CNH / long copper vs short gold / short EM / short EUR / short Yen» again almost singularly hinges
on the Dollar.
Baxter International - For
FY 2017, co now expects sales growth of about 4 percent
on a reported basis, about 4 percent
on a constant currency basis.
vegetable oil 1 onions (peeled and chopped) 2 red and yellow or green peppers (cored and chopped) 1 clove garlic (peeled and chopped) 3 large tomatoes peeled, seeded and chopped or 3/4 tin of ready peeled and chopped tomatoes Dried Chilli flakes (traditionally they use a regional piment called Piment D'esplettes which is delicious but any chilli flakes are fine to add to your taste) 1 sprig of thyme salt and pepper Method: Heat the oil in a
fying pan and add the onions, cooking them
on a low to medium heat until softened.
just a While Ago -
On 25 November in... Here's a look at what was happening on this day in... 2013 - FRANCE: Rémy Cointreau issues FY warning after H1 profits drop Ré
On 25 November in... Here's a look at what was happening
on this day in... 2013 - FRANCE: Rémy Cointreau issues FY warning after H1 profits drop Ré
on this day in... 2013 - FRANCE: Rémy Cointreau issues
FY warning after H1 profits drop Rémy
Mike
Fiers has been a wreck, and Scott Feldman has been
on the wrong side of the Scott Feldman spectrum of expected competence.
They're counting
on Kyle Lohse to ward off the aging demons for another year, Matt Garza to stop being so flaky, Mike
Fiers to put together a full season, Wily Peralta to keep the walks down and strikeouts up, and Jimmy Nelson to establish himself.
The president's
FY 2018 budget (pdf) includes an attack
on the most important nutrition program for hundreds of thousands of Marylanders who live in households that have been left behind in the nation's ongoing economic recovery.
On July 12, 2017, the House Appropriations Committee voted out its Fiscal Year (
FY) 2018 Agriculture Appropriations Bill.
On Tuesday, May 23, 2017, President Trump released his
FY 2018 budget proposal.
Also at 10 a.m., NYC Schools Chancellor Carmen Farina delivers testimony
on the mayor's
FY 2018 executive budget before the NYC Council Finance and Education committees, Council chambers, City Hall, Manhattan.
ALBANY — Based
on initial information regarding the budget now being finalized by Governor Paterson and the State Legislature, the
FY 2009 budget would appear to be a lost opportunity for New York to move toward much needed budget discipline.
Environmental Protection Fund appropriation of $ 143 million, a reduction of $ 73 million from
FY 2010; moratorium
on new funding for Adirondack and open space purchases.
In its 28th annual New York State budget briefing book, the Fiscal Policy Institute analyzes and comments
on Governor Andrew Cuomo's
FY 2019 Executive Budget.
Agencies targeted
on the watch list for
FY 2019 are the Department of Education (DOE), Department of Homeless Services (DHS) and Department of Correction (DOC).
In announcing the watch list, Stringer noted that citywide spending
on homelessness across all agencies has more than doubled from $ 1.1 billion in
FY 2013 to a projected $ 2.6 billion in
FY 2019, resulting in a need to monitor DHS spending.
«Based
on a review of operating results through the first half of
FY 2017 and updated data
on State programs and activities, DOB has lowered its spending estimates in several areas, including mental hygiene, preschool special education, and higher education.»
«The savings from debt management in
FY 2015 and
FY 2016 also reflect actual and planned prepayments of debt service, based
on DOB's estimate of available resources,» according to the budget report.
The purpose of the public hearing will be to obtain the views and recommendations of the Queens Community Boards, residents and stakeholders
on the proposals contained in the Mayor's
FY 2017 Preliminary Budget.