Fundamental Analysis

This material does not constitute investment advice and should not be
viewed as a current or past recommendation or a solicitation of an

offer to buy or sell any securities or to adopt any investment strategy.
Fundamental Analysis &

Analyst Recommendations
QMS Advisors Global Agricultural Chemicals FlexIndex
August 2013
Q M S Advisors
.
Q.M.S Advisors | Avenue de la Gare, 1 1003 Lausanne | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
Valuation Measures I/II

Market Capitalization & Asset Liability data
Market
Total
Capitalization (in mio
Daily
Common Total Debt Preferred
Currency
USD)
Volume (M) Shares (M)
(USD)
Stock (USD)
Minority
Interest
(USD)
Total Revenue
Cash and Enterprise
Equivalents
Value
(USD)
(USD)
Tot. Rev. LFY
Est. Tot.
Rev. - Tr.
12M
EBITDA
Earnings Per Share
Est. Tot.
Est. Tot.
Est. EBITDA - Est. EBITDA - Est. EBITDA Rev. - 2013 Rev. - 2014 EBITDA - LFY Tr. 12M
2013
2014
EPS - LFY
Price/Earnings ratio
Est. EPS Tr. 12M
Est. EPS 2013
Est. EPS 2014
P/E Ratio LFY
Est. P/E
Ratio - Tr.
12M
Rev. Growth
EBITDA Growth
Est.
Est.
Est. Est.
Est. P/E
Est. P/E
Revenue
Revenue Est. EBITDA
EBITDA
Est. EBITDA
Ratio - 2013 Ratio - 2014 Growth - 1Y Growth - 5Y Growth - 1Y Growth - 5Y Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Moody's LT Credit
Rating
Rating Date
S&P 500 INDEX
USD
15538052
2072.938
1114
1114
203
219
219
103.77
110.27
110.27
16.29
16.29
15.33
15.33
18.57
Euro Stoxx 50 Pr
EUR
2804497
5796.224
4700
4700
755
792
792
224.84
301.13
301.13
22.18
19.37
16.56
16.56
20.64
NIKKEI 225
JPY
2795252
204.614
200
200
20
23
23
6.17
8.21
8.21
0.24
0.24
0.18
0.18
0.12
FTSE 100 INDEX
GBP
2785561
12306.15
10166
10166
1480
1662
1662
577.73
804.34
804.34
27.14
22.24
19.49
19.49
22.11
SWISS MARKET INDEX
CHF
1097222
11241.5
4209
4209
960
871
871
442.18
568.67
568.67
21.19
18.04
16.47
16.47
24.43
S&P/TSX COMPOSITE INDEX
CAD
1617335
17024.28
7397
7397
1827
1952
1952
731.39
799.94
799.94
15.65
15.65
14.31
14.31
23.71
S&P/ASX 200 INDEX
AUD
1251718
6003.468
2646
2646
547
674
674
222.26
315.75
315.75
18.69
15.14
13.16
13.16
20.09
HANG SENG INDEX
HKD
1663826
3174.221
1668
1668
353
395
395
277.56
270.53
270.53
1.30
1.40
1.33
1.33
2.89
MSCI EM
USD
7092035
1308.553
973
973
188
178
178
82.51
88.55
88.55
11.37
11.49
10.59
10.59
19.18
YARA INTERNATIONAL ASA
NOK
12141
184
284
12.61
14233
14468
14298
14645
2472
536
536
5.38
5.10
4.93
1.37
0.29
2.64
BBB
15.03.2010
Baa2
17.03.2010
URALKALI
RUB
14128
9742
2846
0.50
120
120
114
113
70
70
0.02
0.01
0.01
0.27
0.35
0.38
0.39
1.52
0.36
1.13
1.78
BBB- *-
05.08.2013
CVR PARTNERS LP
USD
1401
1072
73
1.41
302
313
307
292
137
145
34
34
1.53
1.61
1.63
1.38
11.91
11.91
11.78
13.89
-0.18
-11.76
15.91
46.43
TERRA NITROGEN COMPANY LP
USD
4100
12
19
3.93
780
827
578
621
17.01
18.06
12.15
12.15
-2.35
0.03
9.03
21.62
76.86
SYNGENTA AG-REG
CHF
36822
43
92
43.42
15427
15563
16361
17455
3420
3322
24.72
21.03
25.49
28.70
22.18
19.94
18.30
16.26
7.65
3.39
9.74
11.13
23.19
15.06.2007
SOC QUIMICA Y MINERA CHILE-B
CLP
8098
799
263
0.02
0.00
0.00
0.00
0.00
0.02
0.02
0.03
0.03
0.03
0.03
0.03
0.05
0.08
BBB
27.04.2009
Baa1
23.10.2006
K+S AG-REG
EUR
4550
2907
191
4.87
5253
5042
5344
5001
1441
1425
305
305
4.00
3.79
3.30
1.73
8.37
8.04
9.63
18.30
-2.05
5.94
-5.07
27.86
37.73
BBB+ *-
05.08.2013
Baa2 *-
07.08.2013
SAUDI ARABIAN FERTILIZER CO
SAR
13132
401
333
12.29
1328
1324
1313
1405
1032
1035
240
240
3.09
3.14
3.06
3.19
3.35
3.35
3.43
3.30
-0.37
-0.17
-0.80
2.50
20.84
POTASH CORP OF SASKATCHEWAN
CAD
25681
8705
865
27.38
7612
7710
7136
7067
3446
3404
777
777
2.53
2.52
2.34
2.31
10.86
10.86
11.70
11.81
-8.68
10.54
-17.66
13.91
42.40
A-
15.11.2010
A3
07.06.2013
PHOSAGRO OAO - CLS
USD
124
36
12
10
105303
108287
110706
112618
34695
33150
136.95
135.59
136.53
4.76
-1.91
30.61
BBB-
29.04.2013
MOSAIC CO/THE
USD
17612
11353
426
15.01
9974
9974
9786
9427
2814
2890
590
590
4.08
3.99
3.82
3.73
10.38
10.38
10.83
11.09
-10.21
2.11
-9.77
-2.55
28.98
BBB
28.04.2011
Baa1
12.10.2011
JORDAN PHOSPHATE MINES
JOD
911
20
75
1.00
1072
1023
1152
1301
238
165
32
32
2.49
1.86
2.31
2.62
9.23
9.23
7.44
6.55
-9.21
15.02
3.76
33.66
22.82
INTREPID POTASH INC
USD
895
4060
76
0.96
451
432
374
380
183
170
30
30
1.16
0.98
0.54
0.41
12.00
12.00
21.87
28.88
1.89
3.92
-3.40
31.83
39.25
ISRAEL CHEMICALS LTD
ILs
10103
1499
1272
3.28
1880
1850
1864
1867
536
507
111
111
0.29
0.27
0.25
0.19
2.33
2.33
2.51
3.26
-1.58
0.61
-3.87
4.37
7.73
FAUJI FERTILIZER COMPANY LTD
PKR
1356
1177
1272
1.48
1195
1300
372
410
74
74
0.16
0.17
0.15
0.16
0.06
0.06
0.07
0.07
0.10
0.27
-0.22
0.22
0.31
CF INDUSTRIES HOLDINGS INC
USD
10877
1600
63
12.41
6104
5892
5563
5322
3332
3120
555
555
27.77
28.36
23.86
21.67
6.70
6.70
7.96
8.76
0.10
10.05
5.42
37.17
52.96
ARAB POTASH COMPANY
JOD
4648
83
4.12
828
822
905
1094
391
353
3.38
3.03
3.71
4.42
26.00
26.05
21.23
17.83
-26.25
19.20
-34.77
24.47
60.66
ACRON
RUB
1287
41
2.20
2159
2102
2141
2167
619
628
8.50
7.33
5.56
0.11
0.13
0.17
0.26
0.28
-0.94
0.57
0.91
B1
15.06.2011
AGRIUM INC
CAD
12410
827
149
15.13
16023
15634
16083
16713
2607
2562
430
430
9.08
9.01
8.79
8.70
8.50
8.50
8.72
8.81
7.55
25.89
0.32
25.22
15.74
BBB
24.11.2005
Baa2
18.03.2010
CHINA BLUECHEMICAL LTD - H
HKD
2241
3631
4610
1.62
1385
1385
1539
1613
445
445
0.05
0.05
0.05
0.06
0.97
0.95
0.91
0.88
1.30
3.21
-0.35
1.42
4.14
SINOFERT HOLDINGS LTD
HKD
1078
14574
7024
1.34
5311
5311
5399
5603
179
179
0.01
0.02
0.02
0.02
0.97
0.97
0.84
1.58
1.29
2.26
-0.98
0.43
LUXI CHEMICAL GROUP CO LT-A
CNY
890
17256
1465
2.08
1668
1620
2143
2759
229
359
359
0.03
0.04
0.06
0.09
2.31
1.55
1.16
1.61
2.22
-0.97
2.33
QINGHAI SALT LAKE INDUSTRY-A
CNY
4371
6664
1591
7.48
1276
1289
1289
1466
524
0.24
0.22
0.23
1.85
2.03
1.93
3.87
4.82
0.20
1.57
HUBEI YIHUA CHEMICAL INDUS-A
CNY
1020
18215
898
3.82
3149
3026
2937
3184
574
0.14
0.15
0.17
1.31
1.23
1.10
1.43
3.06
3.00
3.77
LIAONING HUAJIN TONGDA CHE-A
CNY
920
6354
1201
3.51
5621
5766
409
0.00
-0.03
0.03
0.07
4.14
1.76
-0.55
15.16
-2.79
SAR
13132
401
333
12.29
1328
1324
1313
1405
1032
1035
240
240
3.09
3.14
3.06
3.19
3.35
3.35
3.43
3.30
-0.37
-0.17
-0.80
2.50
20.84
AGRIUM INC
CAD
12410
827
149
15.13
16023
15634
16083
16713
2607
2562
430
430
9.08
9.01
8.79
8.70
8.50
8.50
8.72
8.81
7.55
25.89
0.32
25.22
15.74
BBB
24.11.2005
Baa2
18.03.2010
USD
10877
1600
63
12.41
6104
5892
5563
5322
3332
3120
555
555
27.77
28.36
23.86
21.67
6.70
6.70
7.96
8.76
0.10
10.05
5.42
37.17
52.96
ILs
10103
1499
1272
3.28
1880
1850
1864
1867
536
507
111
111
0.29
0.27
0.25
0.19
2.33
2.33
2.51
3.26
-1.58
0.61
-3.87
4.37
7.73
2258
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
1.35
1.42
1.47
-1.41
2.99
Valuation Measures II/II

Price to Book Ratio
Price to Sales Ratio
Price to Cash Flow Ratio
Enterprise Value to EBITDA Ratio
Price to Earnings Ratio
Estimated Dividend Yield
Target
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
%D to Spot
S&P 500 INDEX
2.36
2.36
2.18
2.02
2.36
1.52
1.52
1.45
1.39
1.52
10.77
10.77
10.05
10.50
10.77
9.45
9.45
8.71
8.12
9.45
15.33
15.33
13.83
12.51
15.33
2.09
2.09
2.25
2.39
2.09
1832.6
8.4%
Euro Stoxx 50 Pr
1.23
1.23
1.16
1.10
1.23
0.80
0.80
0.77
0.75
0.80
6.31
6.31
5.76
5.20
6.31
7.32
7.32
6.90
6.54
7.32
12.41
12.41
11.02
9.93
12.41
4.09
4.09
4.33
4.68
4.09
2986.8
6.7%
NIKKEI 225
1.47
1.47
1.38
1.28
1.47
0.71
0.71
0.68
0.66
0.71
8.66
8.66
7.99
7.39
8.66
9.06
9.06
8.32
7.87
9.06
17.21
17.21
15.29
13.81
17.21
1.70
1.70
1.86
2.00
1.70
15126.1
11.2%
FTSE 100 INDEX
1.75
1.75
1.64
1.52
1.75
0.99
0.99
0.96
0.94
0.99
8.46
8.46
7.75
6.51
8.46
7.41
7.41
6.77
6.34
7.41
12.58
12.58
11.39
10.45
12.57
3.82
3.82
4.13
4.48
3.82
7020.6
7.6%
SWISS MARKET INDEX
2.42
2.42
2.24
2.09
2.42
2.05
2.05
1.96
1.87
2.05
12.78
12.78
11.50
10.29
12.78
12.91
12.91
11.94
11.15
12.91
15.17
15.17
13.70
12.46
15.17
3.22
3.22
3.60
4.08
3.22
8714.2
9.8%
S&P/TSX COMPOSITE INDEX
1.68
1.68
1.57
1.47
1.68
1.61
1.61
1.51
1.49
1.61
8.56
8.56
7.76
6.47
8.56
8.72
8.72
7.77
7.24
8.72
14.90
14.90
13.20
12.04
14.90
3.23
3.23
3.36
3.47
3.23
14073.4
13.4%
S&P/ASX 200 INDEX
1.85
1.85
1.75
1.65
1.85
1.73
1.73
1.64
1.56
1.73
10.51
10.51
9.48
9.08
10.51
8.91
8.91
8.10
7.52
8.91
14.53
14.53
13.17
12.15
14.53
4.66
4.66
4.97
5.31
4.66
5231.2
3.3%
HANG SENG INDEX
1.29
1.29
1.19
1.13
1.29
1.67
1.67
1.55
1.43
1.67
7.72
7.72
7.34
6.79
7.72
8.04
8.04
7.37
6.68
8.04
10.32
10.32
9.50
8.70
10.32
3.72
3.72
4.02
4.35
3.72
24727.3
14.2%
MSCI EM
1.37
1.37
1.25
1.13
1.37
0.96
0.96
0.90
0.84
0.96
6.86
6.86
6.25
5.78
6.86
7.35
7.35
6.67
6.14
7.35
10.59
10.59
9.47
8.65
10.59
2.96
2.96
3.25
3.51
2.96
1109.6
18.3%
YARA INTERNATIONAL ASA
1.40
1.31
1.20
1.12
1.16
0.85
0.85
0.83
0.81
0.98
5.33
6.90
6.69
6.69
4.66
5.30
5.50
5.51
6.23
6.92
8.38
8.66
8.43
12.84
3.96
4.64
4.55
4.74
3.57
291.90
15.8%
URALKALI
1.78
1.76
1.91
1.60
1.64
3.51
3.78
3.79
3.58
3.16
8.09
7.80
8.35
8.53
6.97
8.20
9.56
9.26
7.87
10.00
11.40
12.53
14.49
11.27
5.53
4.84
4.61
3.57
5.69
231.24
45.9%
CVR PARTNERS LP
2.98
3.29
3.45
3.68
3.90
4.80
4.56
4.79
4.89
5.19
9.68
9.02
10.20
10.20
9.38
10.57
11.54
12.40
12.78
11.78
13.89
15.21
17.27
9.48
10.34
8.91
8.22
7.30
21.75
13.5%
SYNGENTA AG-REG
4.36
3.77
3.37
3.00
2.58
2.44
2.29
2.17
2.07
14.90
14.38
12.76
11.77
12.55
11.98
10.89
10.10
9.74
17.87
16.85
14.96
13.72
13.25
2.36
2.74
3.03
3.26
3.32
SOC QUIMICA Y MINERA CHILE-B
3.28
2.97
2.73
2.57
3.29
3.54
3.45
3.28
2.74
9.13
7.85
11.84
11.25
7.88
9.67
10.56
10.01
10.98
13.89
15.18
15.08
9.42
3.80
4.11
3.42
3.23
K+S AG-REG
1.01
0.93
0.91
0.87
0.84
0.85
0.85
0.91
0.89
0.82
4.22
4.76
7.24
9.31
5.92
3.45
3.83
5.63
5.53
4.68
6.41
7.21
13.71
14.78
11.69
7.70
6.10
3.48
3.36
5.50
5.55
5.34
5.13
4.62
9.95
10.00
9.35
8.47
8.15
12.55
12.96
12.75
12.04
11.39
12.08
12.11
12.06
11.01
11.43
13.00
12.87
12.36
11.22
9.92
6.96
7.18
7.26
7.49
POTASH CORP OF SASKATCHEWAN
2.61
2.34
2.17
2.08
3.28
3.46
3.49
3.30
2.92
8.07
8.16
8.88
7.91
7.21
7.66
7.97
7.36
10.55
12.18
12.30
11.14
2.03
4.09
4.48
4.49
1.60
1.53
1.51
1.44
1.39
10.15
TERRA NITROGEN COMPANY LP
PHOSAGRO OAO - CLS

MOSAIC CO/THE
1.42
1.86
2.10
JORDAN PHOSPHATE MINES
0.82
0.72
0.63
0.56
1.80
1.87
1.72
0.84
0.79
0.70
0.67
INTREPID POTASH INC
0.96
0.94
0.92
0.90
2.06
2.39
2.36
2.43
2.99
2.74
2.58
2.40
1.49
1.53
1.53
1.48
2.03
1.85
1.57
1.48
1.75
1.96
2.04
ARAB POTASH COMPANY
3.30
3.13
2.79
2.51
1.89
5.06
5.14
ACRON
0.69
0.58
0.54
0.49
0.43
0.62
AGRIUM INC
1.81
1.51
1.29
CHINA BLUECHEMICAL LTD - H
1.02
0.93
0.85
1.16
0.79
SINOFERT HOLDINGS LTD
0.48
0.45
0.42
0.39
LUXI CHEMICAL GROUP CO LT-A
1.03
QINGHAI SALT LAKE INDUSTRY-A
1.69
HUBEI YIHUA CHEMICAL INDUS-A
0.80
0.46
1.87
10.03
7.48
6.60
3.54
3.39
3.36
5.62
5.77
5.12
3.81
4.36
3.83
3.73
5.11
7.18
7.28
7.25
5.20
8.05
8.65
9.66
1.29
6.13
7.10
8.12
7.65
4.99
5.92
6.60
7.12
6.72
2.00
1.77
5.52
8.63
9.84
8.94
6.88
3.65
4.48
5.00
4.25
4.09
4.18
11.67
10.08
10.56
9.94
8.76
9.75
10.01
0.60
0.59
0.54
0.47
3.14
3.46
4.38
4.57
3.33
3.68
0.75
0.74
0.71
0.67
0.66
1.29
1.15
1.10
0.98
7.37
7.57
6.79
6.22
4.28
4.21
4.60
5.61
0.16
0.16
0.15
0.16
4.27
4.08
3.91
0.53
0.42
0.32
0.28
13.78
3.60
3.39
2.98
3.33
5.66
0.33
0.35
0.32
0.27
3.98
3.01
10.83
11.09
9.08
7.27
4.60
5.27
4.64
4.29
3.20
10.11
21.87
28.88
59.65
4.82
7.71
8.92
11.56
10.74
5.75
7.11
6.83
5.04
4.26
6.84
7.96
8.76
8.49
6.99
8.43
8.16
7.77
15.02
15.03
12.63
11.42
4.12
4.60
4.01
3.11
3.79
4.33
5.71
5.95
6.35
6.33
5.86
5.49
8.44
9.08
3.41
3.28
3.08
2.85
7.12
7.05
6.97
7.20
6.61
5.24
7.58
5.80
4.79
4.22
12.48
12.76
14.59
30.38
7.39
7.61
7.10
7.12
2.87
1.17
6.31
5.50
LIAONING HUAJIN TONGDA CHE-A

5.50
5.55
5.34
5.13
AGRIUM INC
1.81
1.51
1.29
1.16
2.03
1.85
1.57
1.48
2.99
2.74
2.58
2.40
4.62
1.87
8.4%
4.96
19.00
6.7%
8.16
153.73
4.0%
33.52
8.7%
2.18
2.42
2.01
2.42
46.88
13.4%
4.65
4.50
5.81
7.91
6.28
13.75
59.9%
0.00
0.00
0.00
0.00
9.28
7.73
5.78
5.98
12.38
13.52
14.14
14.22
0.84
0.84
0.84
0.84
9.95
7.43
6.30
6.42
6.55
3.82
40.80
3.3%
4.95
3.35
8.35
6.71
4.97
5.24
9.02
1744.59
66.9%
9.17
8.38
8.03
0.86
2.18
2.27
2.33
103.49
19.6%
6.83
6.76
4.91
5.11
5.34
5.38
4.95
31.3%
7.51
6.48
6.26
2.13
2.02
2.55
2.55
1.68
41.6%
13.53
9.47
7.11
5.55
2.69
10.84
12.41
11.82
14.08
0.91
1.35
1.31
7.16
0.58
0.43
0.43
FAUJI FERTILIZER COMPANY LTD
1.35
12.9%
45.29
3.55
0.76
410.90
15600.00
9.95
10.00
9.35
8.47
8.15
12.55
12.96
12.75
12.04
0.75
0.74
0.71
0.67
0.66
7.37
7.57
6.79
6.22
1.75
1.96
2.04
2.00
1.77
5.52
8.63
9.84
8.94
1.49
1.53
1.53
1.48
1.29
6.13
7.10
8.12
7.65
11.39
7.68
7.54
6.71
67.00
25.35
10.78
0.8%
12.09
3598.00
27.7%
14.67
128.22
17.6%
210.78
11.0%
6.56
76.3%
0.24
8.70
-48.3%
0.43
6.60
-5.0%
7.50
59.9%
12.08
12.11
12.06
11.01
11.43
13.00
12.87
12.36
11.22
9.92
6.96
7.18
7.26
7.49
5.95
6.35
6.33
5.86
5.49
8.44
9.08
9.17
8.38
8.03
0.86
2.18
2.27
2.33
6.88
3.65
4.48
5.00
5.04
4.26
6.84
7.96
8.76
8.49
6.99
0.84
0.84
0.84
0.84
4.99
5.92
6.60
7.12
6.72
4.82
7.71
8.92
11.56
10.74
5.75
9.28
7.73
5.78
5.98
11.90
8.16
12.09
153.73
4.0%
103.49
19.6%
210.78
11.0%
3598.00
27.7%
08.08.2013
Yara International ASA

Yara International ASA produces, distributes, and sells nitrogen-based mineral
fertilizers and related industrial products. The Company also distributes and
sells a range of phosphate and potash-based mineral fertilizers, as well as
complex and specialty mineral fertilizer products.
Price/Volume
350
3.0 M
300
2.5 M
250
2.0 M
200
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (17.09.2012)
52-Week Low (24.06.2013)
Daily Volume
Current Price (8/dd/yy)
52-Week High % Change
52-Week Low % Change
% 52 Week Price Range High/Low
Shares Out 07.08.2013
Market Capitalization
Total Debt
Preferred Stock
Minority Interest
Cash and Equivalents
Enterprise Value
Relative Stock Price Performance
YAR NO EQUITY YTD Change
YAR NO EQUITY YTD % CHANGE
OBX Index YTD
-4fy
FY1 2008
1.5 M
150
12/2012
06/yy
305.50
236.50
183'806.00
252.1
-17.55%
6.51%
23.48%
284.2
71'648.66
10'895.00
0.0
1'745.0
9'941.00
74'405.65
-3fy
FY1 2009
-2fy
FY1 2010
-1fy
FY1 2011
-0fy
FY1 2012
1.0 M
100
.5 M
50
0
a-12
s-12
o-12
n-12
d-12
j-13
f-13 m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Average Daily Trading Volume
Average Volume 5 Day
Average Volume 3 Month
Average Volume 6 Month
1fy
a-13 m-13
j-13
j-13
.0 M
a-13
1.13
160.34
-6.92%
-3.39%
1.134
32
3.906
902'439
824'477
885'566
953'261
2fy
1fq
2fq
Valuation Multiples
Fiscal Year Ended
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
31.12.2008
87'926.0
0.77x
14'376.0
4.73x
8'228.0
5.26x
31.12.2009
31.12.2010
60'867.0
64'006.0
1.52x
1.67x
3'698.0
9'907.0
25.03x
10.80x
3'782.0
8'729.0
20.16x
11.16x
Profitability
LTM-4Q
31.12.2011
77'726.0
0.95x
15'917.0
4.66x
12'066.0
5.72x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Common Equity
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
16.00
Debt
to Assets
Tot
Debt to Common Equity
14.00
Accounts Receivable Turnover
12.00
Inventory
Turnover
31.12.2012
83'997.0
0.96x
14'591.0
5.52x
10'602.0
7.30x
06/yy
85'386
3.63x
13'323.0
5.26x
8'901.0
7.63x
FY+1
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
84'379
86'428
19'708
20'993
0.88x
0.82x
3.75x
3.52x
14'038.2
13'532.9
3'161.5
3'014.2
5.30x
5.50x
5.87x
5.98x
8'448.6
8'042.3
1'882.5
1'720.4
8.38x
8.66x
9.27x
9.25x
S&P Issuer Ratings
14'591.00
11'167.00
13.29%
15.78%
10.67%
18.21%
15.87%
1.02%
Long-Term Rating Date

Long-Term Rating
Long-Term Outlook
Short-Term Rating Date
Short-Term Rating
Credit Ratios
EBITDA/Interest Exp.
(EBITDA-Capex)/Interest Exp.
Net Debt/EBITDA
- Total Debt/EBITDA
15.6% Reference
11.6% Total Debt/Equity
12.6% Total Debt/Capital
Asset Turnover
2.30 Net Fixed Asset Turnover
1.27 Accounts receivable turnover-days
13.41% 100'000.0
Inventory Days
22.62% 90'000.0
Accounts Payable Turnover Day
9.17 80'000.0
Cash Conversion Cycle
- 70'000.0
Price/
10.00Cash Flow
15.03.2010
BBB
STABLE
15.03.2010
A-2
12.28
9.28
0.06
0.80
22.6%
17.9%
1.02
2.99
39.79
-
Sales/Revenue/Turnover
60'000.0
50'000.0
8.00
40'000.0
6.00
4.00
30'000.0
20'000.0
2.00
10'000.0
0.00
01.01.2010
LTM
06/yy
81'650
3.76x
17'701.0
4.47x
12'747.0
5.81x
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
08.08.2013
Yara International ASA

Holdings By:
All
Holder Name
NORWEGIAN GOVT MINIS
STATE STREET
GOVERNMENT PENSION F
CLEARSTREAM BANKING
BANK OF NEW YORK MEL
JP MORGAN CHASE BANK
YARA INTERNATIONAL A
FMR LLC
DNB NOR ASSET MANAGE
VAN ECK ASSOCIATES C
SEB
DWS INVESTMENT S A
SWEDBANK ROBUR FONDE
ODIN FORVALTNING AS
STOREBRAND FUND MANA
DWP BANK
ALLIANZ ASSET MANAGE
VANGUARD GROUP INC
NORDEA FONDENE AS
RBC INVESTOR SERVICE
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
n/a
Source
EXCH
ULT-AGG
EXCH
EXCH
EXCH
EXCH
EXCH
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
EXCH
ULT-AGG
MF-AGG
MF-AGG
EXCH
Amt Held
100'849'268
18'407'906
16'646'554
13'073'187
10'258'863
6'679'065
6'306'031
5'552'306
3'232'349
3'067'700
2'905'168
2'873'052
2'343'940
2'169'026
2'098'939
2'085'068
2'083'347
1'917'789
1'678'684
1'678'617
% Out
35.48
6.48
5.86
4.6
3.61
2.35
2.22
1.95
1.14
1.08
1.02
1.01
0.82
0.76
0.74
0.73
0.73
0.67
0.59
0.59
Weighting
Change
Latest Chg
(19'942)
401'408
89'319
297'322
92'962
334'332
373'327
(17'700)
270'459
11'087
277'396
-
File Dt
29.07.2013
07.08.2013
29.07.2013
29.07.2013
29.07.2013
29.07.2013
29.07.2013
30.06.2013
30.04.2013
07.08.2013
29.07.2013
30.04.2013
31.03.2013
28.06.2013
31.07.2013
29.07.2013
30.06.2013
30.06.2013
27.03.2013
29.07.2013
Inst Type
Government
Investment Advisor
Government
Bank
Investment Advisor
Investment Advisor
Corporation
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Bank
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Analyst Recommendations
Firm Name
BMO Capital Markets
AlphaValue
Swedbank First Securities
Sanford C. Bernstein & Co
Scotia Capital
Nordea Equity Research
Pareto Securities
DNB Markets
Exane BNP Paribas
Liberum Capital Ltd
Norne Securities AS
Danske Markets
Handelsbanken
Deutsche Bank
Morgan Stanley
ABG Sundal Collier
UBS
Macquarie
SEB Enskilda
Carnegie
Berenberg Bank
Nomura
Arctic Securities ASA
HSBC
Redburn Partners
JPMorgan
EVA Dimensions
Fondsfinans AS
Credit Suisse
Main First Bank AG
SpareBank 1 Markets AS
Equita SIM SpA
Analyst
JOEL JACKSON
FABRICE FARIGOULE
HANS-ERIK JACOBSEN
JEREMY REDENIUS
BEN ISAACSON
ANDRE HOLO ADOLFSEN
SIGURD-ERIK NISSEN-MEYER
KNUT-IVAR BAKKEN
HEIDI VESTERINEN
SOPHIE JOURDIER
TOMAS SKEIVYS
MARTIN STENSHALL
ANNE GJOEN
VIRGINIE BOUCHER-FERTE
PAUL R WALSH
MARTIN MELBYE
JOE DEWHURST
CHRISTIAN FAITZ
TRULS KOLSRUD ENGENE
BENGT JONASSEN
JOHN PHILIPP KLEIN
JEAN DE WATTEVILLE
THOMAS LORCK
YONAH WEISZ
NEIL TYLER
MARTIN EVANS
TIMOTHY STANISH
PER HAAGENSEN
LARS KJELLBERG
THOMAS SWOBODA
HENRIK SCHULTZ
MASSIMO BONISOLI
Recommendation
outperform
buy
neutral
outperform
sector perform
buy
sell
hold
neutral
buy
buy
hold
accumulate
hold
Equalwt/In-Line
buy
buy
outperform
buy
hold
buy
buy
hold
underweight
neutral
neutral
buy
buy
restricted
outperform
neutral
buy
5
5
3
5
3
5
1
3
3
5
5
3
4
3
3
5
5
5
5
3
5
5
3
1
3
3
5
5
#N/A N/A
5
3
5
M
M
D
M
M
M
N
M
M
M
M
M
M
M
M
M
M
M
U
M
M
M
M
D
M
M
M
M
M
U
D
M
Target Price
297
328
275
311
290
300
220
280
270
320
300
265
287
240
316
290
318
366
280
#N/A N/A
310
330
265
230
#N/A N/A
254
#N/A N/A
350
#N/A N/A
320
290
320
Date
Not Provided
6 month
Not Provided
12 month
12 month
12 month
6 month
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
6 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
3 month
Not Provided
Not Provided
Not Provided
12 month
12 month
12 month
Date
05.08.2013
01.08.2013
31.07.2013
30.07.2013
22.07.2013
22.07.2013
22.07.2013
22.07.2013
22.07.2013
22.07.2013
22.07.2013
22.07.2013
20.07.2013
19.07.2013
19.07.2013
19.07.2013
19.07.2013
19.07.2013
19.07.2013
19.07.2013
19.07.2013
19.07.2013
19.07.2013
17.07.2013
24.06.2013
07.06.2013
06.06.2013
13.02.2013
07.12.2012
07.12.2012
05.12.2012
30.04.2012
08.08.2013
08.08.2013
Uralkali OJSC
Uralkali OJSC produces potash. The Company operates mines and ore-treatment
mills in the Perm Territory, Russia. Uralkali extracts and processes potassium
ore and sells standard and granular muriate of potash for the agriculture and
chemical industries. The Company's main markets include Brazil, India, China,
Southeast Asia, Russia, the United States, and Europe.
Price/Volume
300
70.0 M
60.0 M
50.0 M
150
Latest Fiscal Year:

LTM as of:
52-Week High (20.09.2012)
52-Week Low (30.07.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
URKA RM EQUITY YTD Change
URKA RM EQUITY YTD % CHANGE
12/2012
09/yy
277.95
140.00
9'741'520.00
158.5
-42.99%
13.21%
11.67%
2'936.0
465'358.53
3'942.35
0.0
8.3
1'665.58
16'413.78
40.0 M
100
30.0 M
20.0 M
50
10.0 M
0
a-12
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13 m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
- Average Volume 30 Day
- Average Volume 3 Month
Fiscal Year Ended

Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
80.0 M
200
Valuation Analysis
31.12.2008
2'533.6
1.77x
1'668.2
2.69x
885.0
5.08x
90.0 M
250
31.12.2009
31.12.2010
1'069.1
1'699.4
8.13x
8.80x
517.9
800.4
16.78x
18.69x
287.4
548.4
29.00x
27.47x
Profitability
LTM-4Q
31.12.2011
3'495.9
6.91x
2'068.2
11.68x
1'184.0
16.56x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Tot Debt to Common Equity
Inventory Turnover
31.12.2012
3'949.8
6.15x
2'311.4
10.52x
1'600.8
14.33x
2'311.35
1'851.85
46.88%
49.03%
11.88%
19.05%
13.45%
0.29%
74.9%
58.5%
46.9%
40.5%
1.99
1.39
27.59%
45.02%
11.24
4.08
Price/ Cash Flow
09/yy
527.9
0.00x
0.0
0.00x
185.7
0.00x
LTM
09/yy
677.9
0.00x
0.0
0.00x
207.8
0.00x
FY+1
.0 M
a-13
0.85
1'717.52
-35.95%
-31.36%
0.850
10
2.800
19'664'080
11'650'170
8'620'988
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
12/11 Q4 03/12 Q1
3'741.3
3'722.8
4.72x
4.73x
2'001.1
1'716.5
8.20x
9.56x
1'179.1
906.7
11.40x
12.53x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Net Fixed Asset Turnover
Accounts receivable turnover-days
Inventory Days
05.08.2013
BBB- *88.09
72.86
0.99
1.71
45.0%
31.0%
0.29
1.21
32.56
89.72
24.71
97.57
60.00
4'500.0
4'000.0
50.00
3'500.0
3'000.0
40.00
2'500.0
30.00
2'000.0
1'500.0
20.00
1'000.0
10.00
0.00
03.01.2010
500.0
0.0
03.07.2010
03.01.2011
03.07.2011
03.01.2012
03.07.2012
03.01.2013
03.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Uralkali OJSC
Holdings By:
All
Holder Name
KALIHA FINANCE LTD
WADGE HOLDINGS
GALTCHEV FILARET
SKUROV ANATOLY
VANGUARD GROUP INC
BLACKROCK
NORGES BANK
CAISSE DE DEPOT ET P
PICTET FUNDS
HANDELSBANKEN FONDER
MANULIFE FUNDS DIREC
NORTHERN TRUST CORPO
EATON VANCE MANAGEME
ARCA SGR SPA
NOMURA
SANPAOLO IMI ASSET M
FMR LLC
LEGAL & GENERAL
BNP PARIBAS INV PART
EURIZON CAPITAL SA
Firm Name
Infina Investment Company
IFC Metropol
UFS-Finance Investment Company
BCS
VTB Capital
EVA Dimensions
Energocapital Brokerage
Morgan Stanley
Veles Capital
Otkritie Capital
RMG Securities
Uralsib
Portfolio Name
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
MANULIFE EMERGING EA
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
n/a
n/a
n/a
Multiple Portfolios
Analyst
JULIA GAPON
MIKHAIL SMIRNOV
ANNA MILOSTNOVA
OLEG PETROPAVLOVSKIY
ELENA SAKHNOVA
TIMOTHY STANISH
Alexander Ignatyuk
DMITRIY KOLOMYTSYN
VASILIY TANURKOV
DENIS GABRIELIK
ELENA SADOVSKAYA
ANNA KUPRIYANOVA
Source
Research
Research
Research
Research
MF-AGG
ULT-AGG
MF-AGG
MF-AGG
ULT-AGG
MF-AGG
MF-PART
MF-AGG
MF-AGG
MF-AGG
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
ULT-AGG
MF-AGG
Recommendation
hold
sell
buy
sell
sell
hold
buy
Equalwt/No Rating
buy
not rated
Under Review
buy
Amt Held
504'994'729
367'001'984
205'521'111
140'928'762
37'586'976
18'320'777
9'990'332
3'545'770
1'487'321
1'293'978
853'312
509'249
370'000
268'600
267'390
225'603
221'655
183'243
150'000
133'722
% Out
17.2
12.5
7
4.8
1.28
0.62
0.34
0.12
0.05
0.04
0.03
0.02
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0
Weighting
Change
3
1
5
1
1
3
5
3
5
#N/A N/A
#N/A N/A
5
M
D
M
D
M
M
N
M
U
M
M
M
Latest Chg
2'242'193
120'390
(5'505)
853'312
25'000
86'861
6'682
8'109
(8'944)
Target Price
348
113
200
138
396
#N/A N/A
280
241
292
#N/A N/A
#N/A N/A
163
File Dt
26.07.2013
26.07.2013
26.07.2013
26.07.2013
30.06.2013
06.08.2013
31.12.2012
31.12.2012
30.04.2013
31.07.2013
30.04.2013
30.06.2013
31.05.2013
28.03.2013
31.12.2012
30.06.2011
30.06.2013
30.04.2013
31.03.2013
30.06.2011
Date
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Corporation
n/a
n/a
n/a
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Date
05.08.2013
31.07.2013
31.07.2013
30.07.2013
30.07.2013
06.06.2013
03.06.2013
23.05.2013
14.04.2013
13.01.2012
09.03.2011
23.12.2009
08.08.2013
CVR Partners LP
CVR Partners, LP was formed to own, operate and grow its nitrogen fertilizer
business. The Company's nitrogen fertilizer manufacturing facility utilizes a
petroleum coke, or pet coke, gasification process to produce nitrogen
fertilizer. CVR Partners facility includes an ammonia unit, an urea ammonium
nitrate, or UAN, unit, and a gasifier complex.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (24.01.2013)
52-Week Low (07.08.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
UAN US EQUITY YTD Change
UAN US EQUITY YTD % CHANGE
12/2012
06/yy
30.00
19.11
1'072'424.00
19.17
-36.10%
0.31%
0.55%
73.1
1'400.85
125.00
0.0
0.0
127.85
1'413.96
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
12.0 M
25
10.0 M
20
8.0 M
15
6.0 M
10
4.0 M
2.0 M
0
a-12
.0 M
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13 m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
263.0
134.8
118.9
-
30
31.12.2009
31.12.2010
208.4
180.5
67.5
38.8
57.9
33.3
Profitability
LTM-4Q
31.12.2011
302.9
5.62x
155.8
10.92x
132.4
16.77x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
302.3
6.09x
137.4
13.40x
112.2
16.50x
137.45
115.76
38.29%
37.14%
18.72%
25.12%
20.59%
0.50%
46.3%
46.4%
39.1%
37.1%
3.36
2.72
20.07%
28.01%
64.78
6.07
Price/ Cash Flow
06/yy
324.5
20.97x
168.7
10.06x
142.8
12.42x
LTM
06/yy
312.9
22.94x
145.3
11.52x
117.8
14.12x
FY+1
2.59
1.19
33.94
0.16
-15.95%
-19.47%
1.188
7
3.000
583'130
302'906
470'431
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
307.3
292.3
68.7
73.4
150.8
133.8
34.0
37.2
9.38x
10.57x
10.01x
9.96x
120.8
103.1
25.7
29.0
11.78x
13.89x
13.45x
12.95x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
36.59
14.72
0.09
0.86
28.0%
21.9%
0.50
0.80
5.63
60.16
41.02
14.19
16.00
350.0
14.00
300.0
12.00
250.0
10.00
200.0
8.00
150.0
6.00
100.0
4.00
50.0
2.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
CVR Partners LP
Holdings By:
All
Holder Name
CVR ENERGY INC
MORGAN STANLEY
GILDER GAGNON HOWE
DEUTSCHE BANK AG
RENAISSANCE TECHNOLO
CREDIT SUISSE AG
PRIVATE CAPITAL ADVI
TAYLOR INVESTMENT CO
CALIFORNIA PUBLIC EM
RAYMOND JAMES & ASSO
BALDWIN BROTHERS INC
GUGGENHEIM
ROTHSCHILD INVESTMEN
TRUST & FIDUCIARY
SG AMERICAS SECURITI
INNOVATOR MANAGEMENT
BARCLAYS PLC
MUTUAL OF AMERICA CA
WELLS FARGO
UBS
Firm Name
Cowen and Company
Barclays
Morgan Stanley
Goldman Sachs
Simmons & Company International
EVA Dimensions
IPOfinancial.com
Portfolio Name
n/a
n/a
GILDER GAGNON HOWE
n/a
n/a
PRIVATE CAPITAL ADVI
TAYLOR INVESTMENT CO
RAYMOND JAMES & ASSO
BALDWIN BROTHERS INC
n/a
ROTHSCHILD INV
TRUST & FIDUCIARY
SG AMERICAS SECURITI
Multiple Portfolios
n/a
MUTUAL OF AMERICA CA
n/a
n/a
Analyst
CHARLES NEIVERT
MATTHEW J KORN
VINCENT ANDREWS
ADAM SAMUELSON
JEFFREY A DIETERT
CRAIG STERLING
TEAM COVERAGE
Source
Form 4
ULT-AGG
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
13F
ULT-AGG
13F
13F
13F
MF-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
Recommendation
market perform
equalweight
Equalwt/Attractive
neutral/cautious
neutral
sell
buy
Amt Held
38'920'000
526'466
436'034
373'189
362'700
192'397
186'415
169'950
164'200
161'904
118'777
114'222
107'891
106'649
85'558
79'526
77'656
68'233
65'837
58'015
% Out
53.26
0.72
0.6
0.51
0.5
0.26
0.26
0.23
0.22
0.22
0.16
0.16
0.15
0.15
0.12
0.11
0.11
0.09
0.09
0.08
Weighting
Change
3
3
3
3
3
1
5
M
M
M
M
M
N
M
Latest Chg
(12'000'000)
19'729
(433'835)
311'659
314'600
88'792
8'565
58'050
149'600
37'600
15'935
34'022
50'600
20'910
23'507
5'021
34'921
(20'078)
5'713
(1'430)
Target Price
20
24
#N/A N/A
20
#N/A N/A
#N/A N/A
#N/A N/A
File Dt
Inst Type
28.05.2013
Corporation
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013 Hedge Fund Manager
31.03.2013
Investment Advisor
30.06.2013
Investment Advisor
31.03.2013
Investment Advisor
30.06.2013 Pension Fund (ERISA)
30.06.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Unclassified
30.06.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
28.06.2013
Investment Advisor
31.03.2013
Investment Advisor
30.06.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Unclassified
Date
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Date
07.08.2013
06.08.2013
05.08.2013
05.08.2013
02.08.2013
16.05.2013
05.04.2012
08.08.2013
Terra Nitrogen Co LP
Terra Nitrogen Company, L.P., through its subsidiaries, markets and produces
nitrogen, fertilizer, crop protection products, and seed and services for
agricultural, turf, ornamental, and other growers. The Company also produces
nitrogen products and methanol for industrial customers.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (11.01.2013)
52-Week Low (17.04.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
TNH US EQUITY YTD Change
TNH US EQUITY YTD % CHANGE
12/2012
06/yy
256.50
196.02
11'895.00
219.44
-14.45%
11.95%
38.72%
18.5
4'100.38
0.00
0.0
0.0
154.80
3'931.18
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
.1 M
250
.1 M
200
.1 M
150
.1 M
100
.0 M
50
.0 M
0
a-12
.0 M
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13
m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
903.0
1.78x
438.0
3.67x
422.4
6.33x
300
31.12.2009
31.12.2010
507.7
564.6
3.74x
3.35x
160.3
219.0
11.84x
8.63x
144.3
201.6
19.27x
14.17x
Profitability
LTM-4Q
31.12.2011
798.9
3.69x
530.4
5.56x
508.0
10.68x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
780.1
4.93x
578.3
6.65x
560.8
12.59x
578.30
560.80
71.89%
71.89%
186.84%
115.87%
2.58%
76.9%
76.9%
72.3%
71.9%
6.87
6.14
0.00%
0.00%
1102.80
14.08
Price/ Cash Flow
06/yy
796.8
17.32x
558.1
6.78x
537.2
12.93x
LTM
06/yy
827.1
18.58x
461.0
0.00x
597.9
11.85x
7.58
1.09
4.61
0.12
0.10%
6.26%
1.092
0
10'610
14'115
15'434
FY+1
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
09/13 Q3
12/13 Q4
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
-0.47
0.00
0.0%
0.0%
2.58
6.58
0.33
25.92
45.44
-8.44
12.00
1'000.0
900.0
10.00
800.0
700.0
8.00
600.0
6.00
500.0
400.0
4.00
300.0
200.0
2.00
0.00
01.01.2010
100.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Terra Nitrogen Co LP
Holdings By:
All
Holder Name
TERRA INDUSTRIES INC
BANK OF AMERICA CORP
SCHRODER INVESTMENT
BOWEN HANES & COMPAN
DEUTSCHE BANK AG
JAMES INVESTMENT RES
S & T BANK
BRIDGECREEK INV MGMT
HUNTINGTON TRUST COM
RANDOLPH CO INC
MORGAN STANLEY
CLAYMORE INVESTMENTS
BLACKROCK
CREDIT SUISSE AG
WESTPAC BANKING CORP
STEWART CAPITAL ADVI
PRUDENTIAL FINANCIAL
Firm Name
Portfolio Name
n/a
BANK OF AMERICA
SCHRODER INVESTMENT
BOWEN HANES & COMPAN
n/a
JAMES INVESTMENT RES
S & T BANK
BRIDGECREEK INVESTME
Multiple Portfolios
RANDOLPH COMPANY INC
n/a
n/a
Multiple Portfolios
n/a
n/a
WESTPAC BANKING CORP
Multiple Portfolios
n/a
Analyst
Source
13D
13F
13F
13F
ULT-AGG
13F
13F
13F
13F
MF-AGG
13F
ULT-AGG
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
13F
13F
MF-AGG
ULT-AGG
Recommendation
Amt Held
13'889'014
225'053
180'341
175'600
55'520
54'800
45'000
36'840
32'180
30'500
28'200
27'857
25'223
17'338
17'030
15'259
12'514
12'291
10'903
10'600
% Out
75.07
1.22
0.97
0.95
0.3
0.3
0.24
0.2
0.17
0.16
0.15
0.15
0.14
0.09
0.09
0.08
0.07
0.07
0.06
0.06
Weighting
Change
Latest Chg
(1'692)
(40'900)
(10'280)
(9'600)
(47'705)
5'426
(2'515)
1'000
7'784
(3'150)
(308)
7'142
(289)
4'031
700
Target Price
#N/A N/A
File Dt
Inst Type
30.06.2012
Corporation
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
30.06.2013
Investment Advisor
30.06.2013
Bank
31.03.2013
Investment Advisor
30.06.2013
Investment Advisor
30.06.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
28.12.2012
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Bank
30.06.2013 Pension Fund (ERISA)
28.06.2013
Investment Advisor
28.06.2013
Investment Advisor
Date
Date
08.08.2013
Syngenta AG
Syngenta AG produces crop protection products and seeds. The Company produces
herbicides, insecticides and fungicides, and seeds for field crops, vegetables,
and flowers.
Price/Volume
450
.7 M
400
.6 M
350
.5 M
300
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (15.03.2013)
52-Week Low (03.09.2012)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
SYNN VX EQUITY YTD Change
SYNN VX EQUITY YTD % CHANGE
12/2012
06/yy
416.00
321.10
42'538.00
364
-12.48%
13.36%
47.21%
93.1
33'897.92
3'348.00
0.0
11.0
1'599.00
39'975.15
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
.4 M
200
.3 M
150
.2 M
100
.1 M
50
0
a-12
31.12.2009
31.12.2010
10'992.0
11'641.0
2.56x
2.45x
2'368.0
2'460.0
11.86x
11.60x
1'371.0
1'397.0
19.06x
19.37x
Profitability
LTM-4Q
31.12.2011
13'268.0
2.11x
2'889.0
9.69x
1'599.0
16.84x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
14'202.0
2.72x
3'148.0
12.26x
1'872.0
19.65x
3'148.00
2'550.00
17.96%
15.15%
8.86%
20.64%
0.71%
49.2%
21.3%
17.2%
13.2%
1.71
0.75
17.26%
38.28%
2.62
1.77
Price/ Cash Flow
o-12
n-12
d-12
LTM
06/yy
8'265.0
0.00x
0.0
0.00x
0.0
0.00x
06/yy
14'327.0
0.00x
0.0
0.00x
0.0
0.00x
j-13
f-13 m-13
a-13
m-13
j-13
j-13
FY+1
.0 M
a-13
0.89
92.99
10.70%
1.71%
0.887
31
3.968
226'293
246'424
258'987
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
06/13 Q2 09/13 Q3
15'062.1
16'069.0
4'062.5
2'904.0
2.55x
2.34x
3'341.9
3'677.0
11.98x
10.89x
2'203.4
2'440.0
1'867.0
16.85x
14.96x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
15.06.2007
A
STABLE
15.06.2007
A-1
22.17
18.59
1.03
1.28
38.3%
27.7%
0.71
4.65
139.15
205.65
171.60
154.33
40.00
16'000.0
35.00
14'000.0
30.00
12'000.0
25.00
10'000.0
20.00
8'000.0
15.00
6'000.0
10.00
4'000.0
5.00
2'000.0
0.00
01.01.2010
s-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
11'624.0
1.71x
2'495.0
7.99x
1'385.0
12.86x
250
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Syngenta AG
Holdings By:
All
Holder Name
BLACKROCK
CAPITAL GROUP COMPAN
BANK OF NEW YORK
NORGES BANK
FMR LLC
VANGUARD GROUP INC
HARBOR CAPITAL ADVIS
CREDIT SUISSE AG
UBS
THORNBURG INVESTMENT
PICTET FUNDS
JUPITER ASSET MANAGE
MANNING & NAPIER ADV
THREADNEEDLE INVESTM
DWS INVESTMENT S A
SCHRODER INVESTMENT
INVESCO LTD
DEUTSCHE BANK AG
WILLIAM BLAIR & COMP
T ROWE PRICE ASSOCIA
Firm Name
Canaccord Genuity Corp
Sanford C. Bernstein & Co
Kepler Cheuvreux
AlphaValue
Bank am Bellevue
EVA Dimensions
UBS
Bank Vontobel AG
Deutsche Bank
Hamburger Sparkasse
Barclays
Morgan Stanley
Goldman Sachs
Credit Suisse
Jefferies
Macquarie
Nomura
S&P Capital IQ
Liberum Capital Ltd
Exane BNP Paribas
HSBC
Berenberg Bank
Redburn Partners
Zuercher Kantonalbank
JPMorgan
Day by Day
Equita SIM SpA
Bankhaus Metzler
Main First Bank AG
National Bank AG
Portfolio Name
n/a
n/a
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
n/a
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Analyst
PAUL W SATCHELL
JEREMY REDENIUS
MARTIN ROEDIGER
FABRICE FARIGOULE
BRUNO ESCHLI
TIMOTHY STANISH
THOMAS GILBERT
PATRICK RAFAISZ
MARCO GUENTHER
ANDREAS HEINE
PAUL R WALSH
RAKESH PATEL
CHRIS COUNIHAN
LAURENCE ALEXANDER
CHRISTIAN FAITZ
PATRICK LAMBERT
JACOB THRANE
SOPHIE JOURDIER
JAMES KNIGHT
GEOFF HAIRE
JOHN PHILIPP KLEIN
TONY JONES
MARTIN SCHREIBER
MARTIN EVANS
VALERIE GASTALDY
MASSIMO BONISOLI
DANIEL SEIDENSPINNER
RONALD KOEHLER
STEFFEN MANSKE
Source
ULT-AGG
ULT-AGG
EXCH
MF-AGG
ULT-AGG
MF-AGG
MF-AGG
ULT-AGG
ULT-AGG
MF-AGG
ULT-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
ULT-AGG
ULT-AGG
13F
MF-AGG
Recommendation
buy
underperform
buy
buy
buy
hold
sell
hold
buy
buy
equalweight
Equalwt/In-Line
Buy/Neutral
outperform
hold
outperform
buy
hold
hold
neutral
neutral
buy
buy
outperform
neutral
hold
hold
buy
outperform
buy
Amt Held
4'640'124
4'634'983
3'907'159
2'118'825
1'946'127
1'826'340
1'664'500
1'398'194
1'033'568
932'280
580'099
577'569
536'300
408'606
394'230
378'887
374'701
324'956
282'549
281'193
% Out
4.98
4.98
4.2
2.28
2.09
1.96
1.79
1.5
1.11
1
0.62
0.62
0.58
0.44
0.42
0.41
0.4
0.35
0.3
0.3
Weighting
Change
5
1
5
5
5
3
1
3
5
5
3
3
5
5
3
5
5
3
3
3
3
5
5
5
3
3
3
5
5
5
M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
U
M
D
M
M
M
M
Latest Chg
42'023
(171'420)
64'575
(15'975)
(6'783)
(8'401)
(9'092)
(76'790)
20'021
462
120'406
(2'695)
49'768
(310'200)
70'471
Target Price
430
313
410
464
435
#N/A N/A
330
390
430
#N/A N/A
389
380
470
420
400
430
488
395
400
383
420
510
#N/A N/A
#N/A N/A
381
#N/A N/A
390
450
415
280
File Dt
06.08.2013
30.06.2013
26.02.2013
31.12.2012
30.06.2013
30.06.2013
31.03.2013
31.05.2013
31.03.2013
31.05.2013
30.04.2013
30.04.2013
31.12.2012
28.02.2013
30.04.2013
28.06.2013
07.08.2013
28.06.2013
30.06.2013
30.06.2013
Date
12 month
12 month
Not Provided
6 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
3 month
Not Provided
12 month
12 month
Not Provided
Not Provided
Inst Type
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
08.08.2013
06.08.2013
05.08.2013
01.08.2013
30.07.2013
30.07.2013
29.07.2013
26.07.2013
25.07.2013
25.07.2013
25.07.2013
24.07.2013
24.07.2013
24.07.2013
24.07.2013
24.07.2013
24.07.2013
24.07.2013
24.07.2013
18.07.2013
12.07.2013
02.07.2013
01.07.2013
27.06.2013
07.06.2013
04.04.2013
08.02.2013
07.02.2013
20.11.2012
09.02.2009
08.08.2013
Sociedad Quimica y Minera de Chile SA

Sociedad Quimica y Minera de Chile SA produces and markets specialty fertilizers
nitrogen to the agricultural and industrial industries worldwide. The Company
conducts operations in Canada, Chile, the United States, Brazil, and Trinidad.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (21.09.2012)
52-Week Low (06.08.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
SQM/B CI EQUITY YTD Change
SQM/B CI EQUITY YTD % CHANGE
12/2012
06/yy
30'700.00
13'941.00
798'923.00
14386
-53.14%
3.19%
2.66%
120.4
4'173'957.25
1'599.04
0.0
54.7
640.46
9'111.58
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
31.12.2009
31.12.2010
1'438.7
1'830.4
7.90x
8.46x
573.2
654.5
19.82x
23.66x
338.3
382.1
29.51x
39.06x
Profitability
50.0 M
40.0 M
30.0 M
20.0 M
10.0 M
.0 M
s-12
LTM-4Q
31.12.2011
2'145.3
6.99x
949.4
15.80x
545.8
25.96x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
2'429.2
6.63x
1'096.4
14.70x
649.2
23.27x
1'096.38
900.23
37.06%
35.96%
15.05%
30.67%
18.89%
0.58%
42.3%
43.6%
35.6%
26.7%
3.69
1.89
36.21%
74.97%
4.49
1.75
Price/ Cash Flow
o-12
n-12
d-12
LTM
06/yy
8'328.0
19.90x
4'082.0
10.09x
2'522.0
13.96x
j-13
06/yy
8'029.0
19.06x
3'545.0
10.12x
2'265.0
14.55x
f-13 m-13
a-13 m-13
j-13
j-13
FY+1
0.82
90.62
-48.19%
-47.41%
0.824
7
2.429
900'788
575'717
404'395
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
06/13 Q2 09/13 Q3
2'283.1
2'344.3
599.7
540.3
3.89x
3.86x
15.88x
17.65x
942.1
863.0
245.8
205.5
9.67x
10.56x
10.68x
516.4
459.4
140.5
116.7
13.89x
15.18x
14.22x
14.11x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
27.04.2009
BBB
STABLE
16.06
9.53
0.88
1.47
75.0%
42.2%
0.58
1.32
81.35
208.38
44.29
237.79
45.00
10'000.0
40.00
9'000.0
35.00
8'000.0
7'000.0
30.00
6'000.0
25.00
20.00
5'000.0
4'000.0
15.00
3'000.0
10.00
2'000.0
5.00
1'000.0
0.00
01.01.2010
60.0 M
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
1'774.1
3.75x
743.4
8.95x
501.4
12.51x
50
45
40
35
30
25
20
15
10
5
0
a-12
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Sociedad Quimica y Minera de Chile SA

Holdings By:
All
Holder Name
BANK OF NEW YORK
ROYAL BANK OF CANADA
BMO FINANCIAL CORP
JARISLOWSKY FRASER L
PRIMECAP MANAGEMENT
CIBC WORLD MARKETS I
GLOBAL THEMATIC PART
HARBOR CAPITAL ADVIS
FIRST EAGLE INVESTME
TORONTO DOMINION BAN
WENTWORTH HAUSER AND
IG INVESTMENT MANAGE
CI INVESTMENTS INC
ADAGE CAPITAL PARTNE
FMR LLC
NORTHERN CROSS LLC
Firm Name
Larrain Vial Corredores de Bolsa
Susquehanna Financial Group
CIBC World Markets
Stifel
EVA Dimensions
Credit Suisse
Raymond James
Macquarie
Desjardins Securities
Paradigm Capital Inc
Miller Tabak + Co., LLC
BGC Partners
TD Securities
Accountability Research Corp
Barclays
Alta Corp Capital Inc.
BMO Capital Markets
Goldman Sachs
UBS
Edward Jones
Cantor Fitzgerald
National Bank Financial
Atlantic Equities LLP
Morgan Stanley
HSBC
Salman Partners
Dundee Securities Corp
S&P Capital IQ
Oracle Investment Research
Deutsche Bank
Portfolio Name
n/a
n/a
BMO FINANCIAL CORP
JARISLOWSKY FRASER L
PRIMECAP MANAGEMENT
CIBC WORLD MARKETS I
Multiple Portfolios
TORONTO DOMINION BAN
WENTWORTH HAUSER AND
IG INVESTMENT MANAGE
Multiple Portfolios
n/a
NORTHERN CROSS LLC
n/a
Analyst
CHARLES NEIVERT
DONALD D CARSON
JACOB BOUT
PAUL A MASSOUD
CRAIG STERLING
CHRISTOPHER PARKINSON
STEVEN P HANSEN
DAVID PUPO
JOHN F HUGHES
SPENCER CHURCHILL
KEITH CARPENTER
TIM TIBERIO
MARK R GULLEY
PAUL D'AMICO
HARRIET LI
MATTHEW J KORN
JOHN CHU
JOEL JACKSON
ADAM SAMUELSON
BRIAN T MACARTHUR
JEFF NELSON
PETER PRATTAS
ROBERT B WINSLOW
COLIN ISAAC
VINCENT ANDREWS
YONAH WEISZ
RAYMOND GOLDIE
DAVID CHARLES
LEO LARKIN
LAURENCE BALTER
DAVID I BEGLEITER
Source
ULT-AGG
ULT-AGG
13F
13F
13F
13F
13F
13F
13F
MF-AGG
13F
13F
13F
13F
13F
MF-AGG
13F
ULT-AGG
13F
ULT-AGG
Recommendation
underperform
neutral
sector perform
buy
underweight
underperform
market perform
neutral
buy
buy
hold
Under Review
hold
buy
hold
equalweight
underperform
market perform
neutral/cautious
neutral
buy
hold
sector perform
neutral
not rated
overweight
Under Review
Under Review
buy
buy
hold
Amt Held
40'135'200
31'161'388
19'282'630
18'799'720
17'022'646
15'543'059
14'083'717
13'762'736
12'853'694
12'766'856
11'954'313
10'768'976
10'726'888
10'581'716
10'290'445
10'276'969
10'100'008
9'969'957
9'809'617
9'266'746
% Out
4.63
3.59
2.22
2.17
1.96
1.79
1.62
1.59
1.48
1.47
1.38
1.24
1.24
1.22
1.19
1.19
1.17
1.15
1.13
1.07
Weighting
Change
1
3
3
5
1
1
3
3
5
5
3
#N/A N/A
3
5
3
3
1
3
3
3
5
3
3
3
#N/A N/A
5
#N/A N/A
#N/A N/A
5
5
3
M
M
M
M
D
D
M
D
M
M
M
M
D
M
D
M
M
D
D
D
M
D
M
M
M
M
M
M
M
N
M
Latest Chg
(12'034'722)
1'235'078
(1'689'608)
(394'334)
1'740'039
(1'271'000)
(5'035'610)
332'384
379'778
19'762
2'307'750
(124'384)
(1'458'956)
1'284'275
(2'430'183)
(876'809)
1'381'000
(2'637'609)
24'707
(363'624)
Target Price
26
28
34
37
#N/A N/A
28
31
31
39
39
31
#N/A N/A
#N/A N/A
39
36
33
31
31
25
34
#N/A N/A
37
34
33
#N/A N/A
49
#N/A N/A
#N/A N/A
52
55
46
File Dt
Inst Type
30.06.2013
Investment Advisor
30.04.2013
Bank
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
30.06.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.12.2012
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
07.08.2013
Investment Advisor
Date
12 month
12 month
18 month
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
Date
07.08.2013
06.08.2013
05.08.2013
05.08.2013
05.08.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
30.07.2013
30.07.2013
30.07.2013
30.07.2013
30.07.2013
30.07.2013
30.07.2013
25.07.2013
23.07.2013
24.06.2013
15.05.2013
31.01.2013
13.09.2012
31.05.2012
08.08.2013
K+S AG
K+S AG manufactures and markets within the fertilizer division standard and
producer. The Company focuses on the production of Phosphate-Based Fertilisers,
feed phosphate and high-grade phosphate rock, as well as ammonia and
Nitrogen-Based Fertilisers.
Price/Volume
45
.0 M
40
.0 M
35
30
.0 M
25
12/2012
03/yy
40.98
15.02
2'907'491.00
17.81
-56.47%
18.58%
7.78%
191.4
3'408.83
1'265.80
0.0
3.6
786.80
3'645.73
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
15
.0 M
10
.0 M
5
0
a-12
.0 M
s-12
o-12
n-12
d-12
j-13
f-13
m-13
a-13
m-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
4'794.4
1.40x
1'464.3
4.57x
870.9
7.57x
.0 M
20
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (21.08.2012)
52-Week Low (06.08.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
SDF GR EQUITY YTD Change
SDF GR EQUITY YTD % CHANGE
31.12.2009
31.12.2010
3'573.8
4'632.7
2.35x
2.34x
460.2
972.2
18.24x
11.14x
96.4
448.6
68.95x
23.58x
Profitability
LTM-4Q
31.12.2011
3'996.8
1.68x
1'122.5
5.97x
564.3
10.98x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
3'935.3
1.82x
1'079.9
6.65x
667.6
11.78x
1'079.90
850.90
21.62%
19.49%
9.91%
18.79%
17.32%
0.58%
45.1%
28.3%
22.1%
17.0%
3.78
2.41
19.07%
36.44%
4.05
3.18
Price/ Cash Flow
LTM
03/yy
03/yy
25'918.0 108'287.0
5.60x
6.97x
9'099.0
33'150.0
0.00x
6.14x
6'526.0
16'958.0
0.00x
9.36x
FY+1
0.79
172.05
-52.71%
-46.98%
0.786
37
2.432
10'471'020
5'858'337
3'639'655
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
06/13 Q2 09/13 Q3
4'004.0
3'747.0
925.6
868.4
1.03x
1.25x
4.53x
4.90x
952.6
649.0
228.2
192.5
3.83x
5.63x
472.1
243.0
109.0
69.8
7.21x
13.71x
9.64x
12.47x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
05.08.2013
BBB+ *05.08.2013
A-2 *6.49
4.09
0.22
1.19
36.4%
26.7%
0.58
1.57
90.07
114.92
71.22
121.14
8.00
120'000.0
7.00
100'000.0
6.00
80'000.0
5.00
4.00
60'000.0
3.00
40'000.0
2.00
20'000.0
1.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
K+S AG
Holdings By:
All
Holder Name
MERITUS TRUST CO LTD
DUBBERSON HOLDINGS L
DUBHE HOLDINGS LTD
FORNIDO HOLDINGS LTD
OWL NEBULA ENTEPRISE
LITVINENKO VLADIMIR
FEIVEL LTD
ANTOSHIN IGOR DMITRI
VOLKOV MAXIM VIKTORO
ALLIANZ INVESTMENTS
OMBUDSTVEDT SVEN
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
Firm Name
Analyst
Morgan Stanley
Nomos Bank
Renaissance Capital
TIMOTHY STANISH
Alexander Ignatyuk
YURI VOLOV
MIKHAIL SAFIN
Source
Co File
Co File
Co File
Co File
Co File
Co File
Co File
Co File
Co File
MF-AGG
Co File
Recommendation
underweight
hold
hold
buy
Amt Held
10'580'553
10'505'867
10'505'867
9'995'511
8'651'158
6'223'855
6'223'855
2'489'542
1'224'108
13'530
1'245
% Out
8.17
8.11
8.11
7.72
6.68
4.81
4.81
1.92
0.95
0.01
0
Weighting
Change
1
3
3
5
M
N
M
M
Latest Chg
(480)
-
Target Price
#N/A N/A
47
44
59
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
30.12.2011
31.12.2012
Date
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Holding Company
Holding Company
Holding Company
Other
Other
n/a
Other
n/a
n/a
Investment Advisor
n/a
Date
06.06.2013
03.06.2013
29.05.2013
12.04.2012
08.08.2013
Saudi Arabian Fertilizer Co

SAFCO (Saudi Arabian Fertilizer Company) manufactures agricultural supplies.
communities located in North America and other countries. The Company's
principal products include concentrated phosphates, and potash.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (09.12.2012)
52-Week Low (03.09.2012)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
SAFCO AB EQUITY YTD Change
SAFCO AB EQUITY YTD % CHANGE
12/2012
05/yy
161.50
137.25
401'230.00
147.75
-8.51%
7.65%
43.30%
333.3
49'248.77
40.00
0.0
0.0
3'594.03
46'082.69
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
70.0 M
60
60.0 M
50
50.0 M
40
40.0 M
30
30.0 M
20
20.0 M
10
10.0 M
0
a-12
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13 m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
5'235.8
3.69x
4'575.7
4.23x
4'279.8
5.24x
70
31.12.2009
31.12.2010
2'740.7
3'789.5
10.17x
10.04x
1'960.1
2'920.6
14.22x
13.02x
1'804.3
3'234.6
16.77x
13.62x
Profitability
31.12.2011
5'051.2
8.09x
3'988.5
10.25x
4'109.8
10.71x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
4'980.4
9.48x
3'869.4
12.20x
3'866.2
13.13x
3'869.43
3'521.57
70.71%
41.95%
47.26%
0.53%
72.5%
78.2%
71.0%
77.6%
7.34
6.50
0.40%
0.45%
3.55
Price/ Cash Flow
LTM-4Q
LTM
05/yy
11'107.8
8.01x
3'119.2
5.62x
1'930.2
10.55x
05/yy
9'974.1
8.90x
2'890.4
8.06x
1'888.7
15.26x
FY+1
.0 M
a-13
0.77
132.79
12.78%
5.00%
0.768
16
3.438
242'410
207'191
206'979
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
4'925.5
5'268.4
1'379.5
1'597.0
9.46x
8.84x
3'806.9
3'821.9
901.0
12.11x
12.06x
3'816.6
4'004.2
12.87x
12.36x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
1086.61
925.64
-0.82
0.00
0.5%
0.4%
0.53
1.39
102.82
-
20.00
12'000.0
18.00
10'000.0
16.00
14.00
8'000.0
12.00
6'000.0
10.00
8.00
4'000.0
6.00
4.00
2'000.0
2.00
0.00
04.06.2010
0.0
04.12.2010
04.06.2011
04.12.2011
04.06.2012
04.12.2012
04.06.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
08.08.2013

Holdings By:
All
Holder Name
SAUDI BASIC INDUSTRI
BLACKROCK
VANGUARD GROUP INC
STATE STREET
WELLINGTON MANAGEMEN
DEUTSCHE BANK AG
RS INVESTMENT MANAGE
DWS INVESTMENT S A
INSTITUTIONAL CAPITA
MORGAN STANLEY
OPPENHEIMERFUNDS INC
GREEN VALLEY INVESTO
NORGES BANK
AMERIPRISE FINANCIAL
Firm Name
JPMorgan
Scotia Capital
Stifel
BGC Partners
Piper Jaffray
UBS
Credit Suisse
JPMorgan
Gabelli & Co
Barclays
EVA Dimensions
BMO Capital Markets
Goldman Sachs
CIBC World Markets
Deutsche Bank
Morgan Stanley
HSBC
Macquarie
Portfolio Name
n/a
n/a
VANGUARD GROUP INC
n/a
n/a
WELLINGTON MANAGEMEN
n/a
n/a
RS INVESTMENT MANAGE
Multiple Portfolios
INSTITUTIONAL CAPITA
n/a
OPPENHEIMER FUNDS IN
GREEN VALLEY INVESTO
NORGES BANK
n/a
Analyst
CHARLES NEIVERT
BEN ISAACSON
DONALD D CARSON
PAUL A MASSOUD
MARK R GULLEY
MICHAEL E COX
BILL CARROLL
JEFFREY J ZEKAUSKAS
KEITH CARPENTER
AMON R WILKES
MATTHEW J KORN
CRAIG STERLING
JOEL JACKSON
ADAM SAMUELSON
JACOB BOUT
COLIN ISAAC
DAVID I BEGLEITER
VINCENT ANDREWS
YONAH WEISZ
DAVID PUPO
Source
ULT-AGG
ULT-AGG
13F
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
ULT-AGG
13F
MF-AGG
13F
13F
13F
ULT-AGG
13F
13F
13F
ULT-AGG
13F
Recommendation
market perform
sector perform
neutral
buy
hold
neutral
neutral
neutral
overweight
hold
buy
overweight
overweight
market perform
neutral/cautious
sector perform
neutral
hold
Overwt/Attractive
neutral
outperform
Amt Held
19'417'191
14'763'584
12'886'085
12'258'939
10'825'512
10'075'180
9'724'446
6'455'793
6'342'537
6'036'574
5'514'100
5'402'924
4'724'427
3'821'456
3'058'740
2'977'994
2'600'000
2'531'671
2'359'185
2'311'757
% Out
6.54
4.97
4.34
4.13
3.64
3.39
3.27
2.17
2.14
2.03
1.86
1.82
1.59
1.29
1.03
1
0.88
0.85
0.79
0.78
Weighting
Change
3
3
3
5
3
3
3
3
5
3
5
5
5
3
3
3
3
3
5
3
5
M
M
M
M
M
M
M
M
M
M
M
M
U
D
D
M
D
M
M
N
M
Latest Chg
(1'076'130)
(118'422)
119'147
143'023
1'506'016
(1'372'812)
(681'915)
894'611
(2'220'979)
534'920
(15'923)
(486'974)
331'845
3'687'562
115'744
(1'648'299)
(490'503)
60'604
Target Price
36
50
43
50
#N/A N/A
43
40
41
50
45
#N/A N/A
49
#N/A N/A
43
35
50
50
58
70
66
71
File Dt
31.03.2013
31.03.2013
31.03.2013
07.08.2013
30.06.2013
31.03.2013
31.03.2013
07.08.2013
28.06.2013
31.03.2013
30.04.2013
31.03.2013
31.03.2013
31.03.2013
31.03.2013
31.03.2013
31.03.2013
31.12.2012
28.06.2013
31.03.2013
Date
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
Not Provided
15 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
18 month
12 month
12 month
12 month
Not Provided
12 month
Inst Type
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Date
07.08.2013
06.08.2013
06.08.2013
05.08.2013
05.08.2013
04.08.2013
02.08.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
31.07.2013
30.07.2013
30.07.2013
30.07.2013
30.07.2013
17.07.2013
17.07.2013
17.04.2013
01.04.2013
08.08.2013
Potash Corp of Saskatchewan Inc

Potash Corporation of Saskatchewan Inc. produces potash, phosphate, and
phosphates and fertilizers. The Company also imports mining machinery and
trucks, raw materials such as sulfur, ammonium hydroxide and anhydrous ammonia.
Price/Volume
16
.3 M
14
.2 M
12
10
Latest Fiscal Year:

LTM as of:
52-Week High (17.05.2013)
52-Week Low (30.07.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
POT CN EQUITY YTD Change
POT CN EQUITY YTD % CHANGE
12/2012
03/yy
45.14
28.75
8'704'519.00
30.85
-31.65%
7.30%
12.82%
866.9
26'744.50
4'081.00
0.0
0.0
562.00
28'516.76
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
31.12.2009
31.12.2010
3'976.7
6'539.0
8.98x
7.55x
1'114.1
2'709.0
32.06x
18.21x
980.7
1'775.0
36.97x
25.85x
Profitability
.1 M
2
0
a-12
.0 M
s-12
LTM-4Q
31.12.2011
8'715.0
4.55x
4'398.0
9.02x
3'081.0
11.80x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
7'927.0
4.88x
3'589.0
10.79x
2'079.0
15.47x
3'589.00
3'011.00
37.98%
36.65%
13.00%
23.72%
17.63%
0.46%
43.0%
44.2%
36.3%
26.2%
1.35
0.89
22.42%
41.17%
7.29
6.48
Price/ Cash Flow
03/yy
831.2
4.53x
150.1
0.00x
162.7
5.93x
o-12
n-12
d-12
j-13
LTM
03/yy
724.6
5.39x
117.1
8.84x
98.6
9.89x
f-13 m-13
a-13
m-13
j-13
j-13
FY+1
3.54
1.14
861.34
15.10
-25.16%
-22.18%
1.139
29
3.345
16'332'880
7'666'789
5'051'894
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
7'431.8
7'359.3
1'714.9
1'669.6
3.84x
3.86x
16.81x
17.12x
3'722.9
3'580.0
808.7
829.5
7.66x
7.97x
8.11x
7.90x
2'140.3
2'089.7
447.6
455.6
12.18x
12.30x
13.02x
12.51x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
15.11.2010
ANEG
15.11.2010
A-2
31.48
12.77
0.80
0.98
41.2%
29.2%
0.46
0.72
50.07
56.31
79.78
13.30
50.00
900.0
45.00
800.0
40.00
700.0
35.00
600.0
30.00
500.0
25.00
400.0
20.00
300.0
15.00
200.0
10.00
100.0
5.00
0.00
31.12.2009
.1 M
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
9'446.5
2.59x
4'503.1
5.44x
3'495.2
6.77x
.2 M
Valuation Analysis
0.0
30.06.2010
31.12.2010
30.06.2011
31.12.2011
30.06.2012
31.12.2012
30.06.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Potash Corp of Saskatchewan Inc

Holdings By:
All
Holder Name
MINISTRY OF FINANCE
SOCIAL SECURITY CORP
GOVERNMENT OF KUWAIT
FRANKLIN TEMPLETON F
FRANKLIN RESOURCES
JORDAN KUWAIT BANK
EATON VANCE ADVISORS
BECK MACK & OLIVER L
AUSTIN INVESTMENT MA
BLACKROCK
NORGES BANK
7 INVESTMENT MANAGEM
SOCIETE GENERALE
AL ARABI INVESTMENT
NOMURA
MANUFACTURERS & TRAD
AL-QURAAN KHALID MOH
Firm Name
Cowen and Company
Goldman Sachs
EVA Dimensions
HSBC
Deutsche Bank
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
Multiple Portfolios
BECK MACK & OLIVER L
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
AB MENA FEEDER FUND
n/a
Multiple Portfolios
n/a
Analyst
YOUSEF HUSSEINI
MATIJA GERGOLET
TIMOTHY STANISH
NASSER MZ MOUMEN
ALEKSANDAR STOJANOVSKI
Source
Research
Research
Research
Research
Research
ULT-AGG
MF-AGG
Research
MF-AGG
13F
MF-AGG
ULT-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-PART
ULT-AGG
MF-AGG
Research
Recommendation
buy
Buy/Neutral
overweight
overweight
buy
Amt Held
27'750'000
19'245'396
12'342'208
7'000'000
1'475'250
1'309'335
185'138
161'800
65'901
38'790
30'790
24'750
8'777
8'417
6'997
5'467
4'885
3'100
1'700
450
% Out
37
25.66
16.46
9.33
1.97
1.75
0.25
0.22
0.09
0.05
0.04
0.03
0.01
0.01
0.01
0.01
0.01
0
0
0
Weighting
Change
5
5
5
5
5
M
M
N
U
M
Latest Chg
61'500
341'525
8'000
30'790
2'251
74
-
Target Price
11
17
#N/A N/A
16
19
File Dt
Inst Type
01.08.2013
Holding Company
01.08.2013
Government
01.08.2013
Government
01.08.2013
Government
01.08.2013
n/a
31.03.2013
Investment Advisor
31.05.2013
Investment Advisor
01.08.2013
Bank
31.05.2013
Investment Advisor
31.03.2013
Investment Advisor
06.08.2013
Investment Advisor
31.12.2012
Government
28.02.2013
Investment Advisor
28.03.2013
Bank
07.08.2013
Investment Advisor
28.06.2013
Investment Advisor
17.11.2010
Unclassified
31.05.2013
Investment Advisor
01.08.2013
n/a
Date
12 month
12 month
Not Provided
Not Provided
12 month
Date
01.08.2013
11.07.2013
21.06.2013
17.04.2013
14.04.2013
08.08.2013
Phosagro OAO
Phosagro OAO is a global vertically integrated phosphate-based fertiliser
supplier for explosives products and services. The Company has operations
throughout the United States, Canada, Mexico and Australia.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (24.04.2013)
52-Week Low (22.05.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
PHOR RU EQUITY YTD Change
PHOR RU EQUITY YTD % CHANGE
12/2012
01/yy
40.66
39.83
0.00
0.00%
129.5
36'469.00
0.0
12'389.0
10'497.00
-
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
70.0 M
60.0 M
50.0 M
40.0 M
30.0 M
20.0 M
10.0 M
0
a-12
31.12.2009
31.12.2010
60'785.0
76'951.0
15'177.0
20'464.0
6'381.0
10'578.0
Profitability
LTM-4Q
31.12.2011
100'518.0
1.30x
35'370.0
3.70x
19'935.0
50.39x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
105'303.0
1.84x
34'695.0
5.57x
20'654.0
7.50x
34'695.00
28'174.00
26.76%
29.64%
13.99%
33.54%
19.43%
0.89%
42.9%
30.6%
24.3%
19.6%
1.02
0.40
31.54%
73.70%
46.32
5.98
Price/ Cash Flow
o-12
n-12
d-12
j-13
f-13 m-13
a-13
m-13
j-13
j-13
LTM
FY+1
63.10
3
2.333
0
0
17
FY+2
FQ+1
FQ+2
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
01/yy
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
0.0 110'706.4 112'618.3
#DIV/0!
0.0
31'874.5
31'836.1
0.00x
0.0
18'105.5
18'159.1
0.00x
S&P Issuer Ratings
29.04.2013
Long-Term Rating
BBBLong-Term Outlook
STABLE
Short-Term Rating
Credit Ratios
29.08
17.88
Net Debt/EBITDA
1.07
Total Debt/EBITDA
1.64
Reference
Total Debt/Equity
73.7%
Total Debt/Capital
37.1%
Asset Turnover
0.89
1.70
7.88
Inventory Days
61.07
11.61
64.30
16.00
4'000.0
14.00
3'500.0
12.00
3'000.0
10.00
2'500.0
8.00
2'000.0
6.00
1'500.0
4.00
1'000.0
2.00
500.0
0.00
02.10.2009
.0 M
s-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
92'191.0
45'404.0
27'576.0
-
0.0
02.04.2010
02.10.2010
02.04.2011
02.10.2011
02.04.2012
02.10.2012
02.04.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Phosagro OAO
Holdings By:
All
Holder Name
CARRANITA HOLDINGS L
BLACKROCK
COMMONWEALTH BANK OF
SCHRODER INVESTMENT
NATIONAL AUSTRALIA B
DWS INVESTMENT S A
AMP LIFE LTD
AUSTRALIAN FOUNDATIO
VANGUARD GROUP INC
VANGUARD INVESTMENTS
MACQUARIE GROUP
NORGES BANK
QUEENSLAND INVESTMEN
CI INVESTMENTS INC
LITMAN/GREGORY FUND
NATIXIS INTERNATIONA
IVY MANAGEMENT INCOR
ALLIANCE BERNSTEIN
FLEXSHARES TRUST
Portfolio Name
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
n/a
n/a
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
Firm Name
Analyst
EVA Dimensions
Goldman Sachs
Macquarie
BBY Limited
Credit Suisse
JPMorgan
CIMB
Commonwealth Bank
RBS Morgans
UBS
EVA Dimensions
Octa Phillip Securities Ltd
Morgan Stanley
MARK WILSON
MATTHEW MCNEE
JOHN PURTELL
DENNIS HULME
ANDREW PEROS
STUART JACKSON
ANDREW G SCOTT
MICHAEL WARD
BELINDA MOORE
RAMOUN LAZAR
TIMOTHY STANISH
PAUL JENSZ
NICHOLAS ROBISON
Source
EXCH
ULT-AGG
EXCH
Co File
ULT-AGG
MF-AGG
ULT-AGG
Co File
Co File
MF-AGG
MF-AGG
ULT-AGG
MF-AGG
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
ULT-AGG
MF-AGG
Recommendation
hold
neutral/neutral
outperform
strong buy
neutral
neutral
neutral
neutral
outperform
buy
hold
buy
Equalwt/Cautious
Amt Held
137'109'430
99'528'313
98'572'385
85'454'643
83'182'746
31'789'110
27'750'600
23'876'351
21'209'411
20'210'925
10'313'839
9'569'641
9'144'480
7'738'572
7'266'295
6'544'000
5'871'268
5'672'426
5'104'794
4'322'970
% Out
8.42
6.11
6.05
5.25
5.11
1.95
1.7
1.47
1.3
1.24
0.63
0.59
0.56
0.48
0.45
0.4
0.36
0.35
0.31
0.27
Weighting
Change
3
3
5
5
3
3
3
3
5
5
3
5
3
M
M
M
U
M
M
M
M
M
M
M
M
M
Latest Chg
16'367'200
(3'023'815)
(18'515'621)
3'064'258
(4'343'704)
2'083'894
552'230
6'544'000
(195'387)
5'672'426
2'391'123
347'516
Target Price
3
3
3
3
3
3
3
3
3
3
#N/A N/A
4
3
File Dt
31.05.2013
06.08.2013
29.05.2013
12.11.2012
23.04.2013
30.04.2013
07.08.2013
12.11.2012
12.11.2012
30.06.2013
28.06.2013
31.08.2011
31.12.2012
12.11.2012
31.12.2012
31.03.2013
28.03.2013
31.03.2013
30.06.2013
31.05.2013
Date
12 month
12 month
12 month
12 month
Not Provided
9 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Inst Type
Investment Advisor
Investment Advisor
Bank
Investment Advisor
Bank
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
31.07.2013
29.07.2013
24.07.2013
24.07.2013
23.07.2013
23.07.2013
23.07.2013
23.07.2013
23.07.2013
24.06.2013
06.06.2013
22.05.2013
13.05.2013
08.08.2013
Mosaic Co/The
The Mosaic Company produces and distributes crop nutrients to the agricultural
Company also markets langbeinite.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (08.05.2013)
52-Week Low (06.08.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
MOS US EQUITY YTD Change
MOS US EQUITY YTD % CHANGE
05/2013
06/yy
64.65
39.75
11'352'747.00
41.36
-36.02%
4.05%
6.47%
297.1
17'611.96
1'079.20
0.0
17.5
3'697.10
15'011.56
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
25.0 M
20
20.0 M
15
15.0 M
10
10.0 M
5.0 M
0
a-12
.0 M
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13 m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
9'812.6
5.63x
3'201.6
17.26x
2'082.8
26.66x
25
31.12.2009
31.12.2010
10'298.0
6'759.1
2.24x
2.87x
3'167.1
1'715.8
7.27x
11.31x
2'350.2
827.1
12.55x
26.47x
Profitability
LTM-4Q
31.12.2011
9'937.8
2.88x
3'111.6
9.19x
2'514.6
15.94x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
11'107.8
1.58x
3'119.2
5.62x
1'930.2
10.57x
2'814.40
2'209.60
22.15%
22.39%
10.86%
14.87%
0.57%
27.7%
29.0%
22.9%
18.9%
3.90
2.67
5.97%
8.04%
11.29
5.15
Price/ Cash Flow
06/yy
429.6
15.08x
181.6
8.53x
90.1
20.26x
LTM
FY+1
06/yy
432.2
13.76x
169.6
8.85x
74.0
19.36x
2.42
1.31
277.13
4.68
-27.36%
-25.95%
1.306
24
3.750
12'735'677
8'507'428
5'350'624
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
9'786.0
9'427.4
2'351.7
2'430.8
1.65x
1.71x
2'670.0
2'602.0
590.4
627.2
5.62x
5.77x
6.15x
6.09x
1'616.1
1'505.1
331.5
333.3
10.83x
11.09x
11.70x
11.28x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
28.04.2011
BBB
STABLE
29.08.2007
NR
54.12
23.58
-0.91
0.37
8.0%
7.4%
0.57
1.24
32.34
70.94
40.72
62.45
35.00
500.0
450.0
30.00
400.0
25.00
350.0
300.0
20.00
250.0
200.0
15.00
150.0
10.00
100.0
5.00
0.00
01.01.2010
50.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
08.08.2013
Mosaic Co/The
Holdings By:
All
Holder Name
TEMASEK HOLDINGS PRI
HARVEY JR HUGH E
ADVISORY RESEARCH IN
NEUBERGER BERMAN LLC
VANGUARD GROUP INC
BLACKROCK
HEARTLAND ADVISORS I
MORGAN STANLEY
JANUS CAPITAL MANAGE
SUN LIFE FINANCIAL I
CAMBIAR INVESTORS LL
JENNISON ASSOCIATES
ROYCE AND ASSOCIATES
STATE STREET
PARNASSUS INVESTMENT
INVESCO LTD
AMERICAN CENTURY COM
SNYDER CAPITAL MANAG
SAC CAPITAL ADVISORS
Firm Name
Cowen and Company
KeyBanc Capital Markets
BMO Capital Markets
Morgan Stanley
UBS
Credit Suisse
Wunderlich Securities
Scotia Capital
Barclays
EVA Dimensions
Goldman Sachs
BGC Partners
IPOfinancial.com
Portfolio Name
n/a
n/a
ADVISORY RESEARCH IN
NEUBERGER BERMAN GRO
VANGUARD GROUP INC
n/a
HEARTLAND ADVISORS I
n/a
n/a
n/a
CAMBIAR INVESTORS LL
JENNISON ASSOCIATES
ROYCE & ASSOCIATES L
n/a
PARNASSUS INVESTMENT
n/a
AMERICAN CENTURY COM
SNYDER CAPITAL MANAG
SAC CAPITAL ADVISORS
Analyst
CHARLES NEIVERT
DONALD D CARSON
IVAN MARCUSE
JOEL JACKSON
VINCENT ANDREWS
BILL CARROLL
MICHAEL E HOFFMAN
BEN ISAACSON
MATTHEW J KORN
CRAIG STERLING
ADAM SAMUELSON
MARK R GULLEY
TEAM COVERAGE
Source
Form 4
Form 4
13F
13F
13F
ULT-AGG
13F
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
13F
13F
Recommendation
underperform
neutral
hold
market perform
Equalwt/Attractive
neutral
underperform
buy
sector underperform
underweight
overweight
Sell/Cautious
hold
buy
Amt Held
10'682'886
9'754'240
4'196'256
3'531'776
3'171'862
2'884'032
2'552'297
2'411'827
1'966'481
1'834'007
1'810'924
1'650'130
1'422'716
1'379'106
1'222'393
1'097'994
1'076'900
999'949
964'919
931'632
% Out
14.1
12.87
5.54
4.66
4.19
3.81
3.37
3.18
2.6
2.42
2.39
2.18
1.88
1.82
1.61
1.45
1.42
1.32
1.27
1.23
Weighting
Change
1
3
3
3
3
3
1
5
1
1
5
1
3
5
M
M
M
M
M
M
M
M
M
D
U
D
M
M
Latest Chg
20'000
23'544
137'652
(765'536)
(24'180)
61'419
625'695
(4'567'021)
808'725
673'896
4'585
14'600
(1'665'906)
(122'447)
240'929
(86'919)
258'600
300'899
(39'205)
931'632
Target Price
9
12
#N/A N/A
11
#N/A N/A
13
11
22
12
13
#N/A N/A
9
#N/A N/A
#N/A N/A
File Dt
Inst Type
15.05.2013
n/a
25.02.2013
n/a
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
06.08.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
30.06.2013
Investment Advisor
30.06.2013
Investment Advisor
30.06.2013
Investment Advisor
31.03.2013
Investment Advisor
30.06.2013
Investment Advisor
07.08.2013
Investment Advisor
30.06.2013
Investment Advisor
31.03.2013
Investment Advisor
Date
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
18 month
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Date
07.08.2013
06.08.2013
05.08.2013
02.08.2013
02.08.2013
02.08.2013
01.08.2013
01.08.2013
01.08.2013
31.07.2013
31.07.2013
30.07.2013
11.07.2013
25.02.2011
08.08.2013
Jordan Phosphate Mines

Jordan Phosphate Mines is active in the exploration, production and export of
markets chemical and fertilizer products in Israel. The Company markets its
products in Israel, Europe, and the Americas. Products include bromine
specialty chemicals, potash, phosphate fertilizers, and specialty performance
and industrial products.
Price/Volume
6000
5000
4000
3000
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (17.01.2013)
52-Week Low (18.07.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
JOPH JR EQUITY YTD Change
JOPH JR EQUITY YTD % CHANGE
12/2012
06/yy
13.90
7.31
20'488.00
8.6
-38.13%
17.65%
21.09%
75.0
645.00
71.46
0.0
8.0
49.65
705.24
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
1000
0
a-12
31.12.2009
31.12.2010
458.2
563.9
2.58x
2.16x
111.0
77.7
10.65x
15.65x
92.9
80.2
14.54x
15.83x
Profitability
o-12
n-12
d-12
j-13
f-13 m-13 a-13 m-13
j-13
j-13
Market Data
LTM-4Q
31.12.2011
812.4
1.13x
164.5
5.57x
145.8
6.55x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
759.4
1.32x
168.9
5.95x
132.2
7.38x
168.89
148.86
19.60%
20.07%
9.87%
13.31%
11.85%
0.72%
37.0%
16.2%
13.4%
17.4%
2.70
0.84
7.19%
9.28%
10.43
2.31
Price/ Cash Flow
06/yy
7'016.7
8.81x
2'194.4
6.84x
1'502.8
9.00x
LTM
06/yy
6'566.0
10.03x
1'800.8
7.87x
1'225.8
10.36x
FY+1
1.71
7.02
-28.06%
-32.54%
1.715
5
5.000
18'229
23'916
18'201
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
06/13 Q2 09/13 Q3
815.8
921.5
191.0
239.0
0.63x
0.44x
161.8
184.0
23.0
4.36x
3.83x
122.7
138.8
10.5
5.27x
4.64x
6.56x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
59.16
33.02
0.45
0.86
9.3%
8.4%
0.72
1.83
35.00
158.24
23.04
147.97
20.00
8'000.0
18.00
7'000.0
16.00
6'000.0
14.00
5'000.0
12.00
10.00
4'000.0
8.00
3'000.0
6.00
2'000.0
4.00
1'000.0
2.00
0.00
31.12.2009
s-12
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
846.9
1.57x
279.1
4.75x
238.6
6.13x
2000
20.0 M
18.0 M
16.0 M
14.0 M
12.0 M
10.0 M
8.0 M
6.0 M
4.0 M
2.0 M
.0 M
a-13
0.0
30.06.2010
31.12.2010
30.06.2011
31.12.2011
30.06.2012
31.12.2012
30.06.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Jordan Phosphate Mines

Holdings By:
All
Holder Name
KAMIL HOLDINGS LTD
POTASH CORP OF SASKA
INVESCO LTD
NORGES BANK
BLACKROCK
JANUS CAPITAL MANAGE
NEUBERGER BERMAN LLC
VANGUARD GROUP INC
SCHRODER INVESTMENT
COLUMBIA WANGER ASSE
ING INVESTMENT MANAG
MACKENZIE FINANCIAL
FERSON CHEMICALS LTD
STATE STREET
KEMPEN CAPITAL MANAG
Firm Name
EFG-Hermes
BMO Capital Markets
Deutsche Bank
Morgan Stanley
Goldman Sachs
Excellence Nessuah
UBS
Liberum Capital Ltd
Psagot Investment House Ltd
HSBC
Credit Suisse
Bank Leumi
EVA Dimensions
VTB Capital
I.B.I.
CLAL Finance Betucha
DS Securities & Investments
Portfolio Name
#N/A N/A
#N/A N/A
n/a
Multiple Portfolios
n/a
n/a
Multiple Portfolios
n/a
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
#N/A N/A
n/a
n/a
Analyst
JOSEPH WOLF
JOEL JACKSON
PETER MACKEY
YULIA CHEKUNAEVA
GILAD ALPER
RONI BIRON
SOPHIE JOURDIER
ILANIT SHERF
YONAH WEISZ
MIKHAIL PRIKLONSKY
ELLA FRIED
TIMOTHY STANISH
ELENA SAKHNOVA
GUIL BASHAN
JONATHAN KREIZMAN
RICHARD GUSSOW
Source
EXCH
EXCH
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
MF-AGG
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
EXCH
ULT-AGG
ULT-AGG
Recommendation
overweight
market perform
hold
not rated
neutral/cautious
hold
buy
hold
hold
underweight
outperform
market perform
overweight
buy
neutral
market perform
market perform
Amt Held
665'485'881
176'088'630
20'479'539
11'788'733
9'664'378
7'472'338
6'400'000
5'816'259
4'631'249
4'283'338
4'163'369
3'927'978
3'867'652
3'476'464
3'448'212
3'088'196
2'893'973
2'216'131
2'211'609
2'206'599
% Out
52.29
13.84
1.61
0.93
0.76
0.59
0.5
0.46
0.36
0.34
0.33
0.31
0.3
0.27
0.27
0.24
0.23
0.17
0.17
0.17
Weighting
Change
5
3
3
#N/A N/A
3
3
5
3
3
1
5
3
5
5
3
3
3
M
M
M
M
M
M
M
M
M
D
M
M
M
M
M
M
N
Latest Chg
(11'101'591)
2'721'166
1'984'000
36'179
11'747
4'163'369
19'720
268'912
378'887
(327'000)
700'247
22'960
7'641
198'500
Target Price
3'600
2'600
2'700
#N/A N/A
2'900
3'000
3'500
3'200
#N/A N/A
1'830
4'700
4'200
#N/A N/A
5'140
4'600
4'500
4'600
File Dt
Inst Type
06.08.2013
Holding Company
06.08.2013
Government
30.06.2013
Investment Advisor
30.06.2013
Investment Advisor
07.08.2013
Investment Advisor
31.05.2013
Investment Advisor
07.08.2013
Investment Advisor
31.12.2012
Government
06.08.2013
Investment Advisor
31.03.2013
Investment Advisor
31.05.2013
Investment Advisor
30.06.2013
Investment Advisor
30.04.2013
Investment Advisor
28.06.2013
Investment Advisor
30.06.2013
Investment Advisor
31.03.2013
Investment Advisor
06.08.2013
Corporation
07.08.2013
Investment Advisor
31.03.2013
Unclassified
Date
Not Provided
12 month
12 month
Not Provided
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
12 month
Date
08.08.2013
07.08.2013
07.08.2013
07.08.2013
07.08.2013
07.08.2013
31.07.2013
31.07.2013
31.07.2013
30.07.2013
27.06.2013
16.06.2013
06.06.2013
14.05.2013
13.05.2013
12.05.2013
02.04.2013
08.08.2013
Intrepid Potash Inc

Intrepid Potash, Inc. mines and markets potash for use as a fertilizer. The
fertilizer products globally. The Company's principal products in the nitrogen
segment are ammonia, urea, urea ammonium nitrate solution, ammonium nitrate,
diesel exhaust fluid and aqua ammonia. The principal products in the phosphate
segment are diammonium phosphate and monoammonium phosphate.
Price/Volume
200
5.0 M
4.0 M
3.0 M
100
12/2012
06/yy
24.05
10.60
4'060'189.00
11.81
-50.89%
11.42%
9.00%
75.8
894.82
0.00
0.0
0.0
57.75
959.61
2.0 M
50
1.0 M
0
a-12
.0 M
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13 m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
6.0 M
150
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (29.01.2013)
52-Week Low (06.08.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
IPI US EQUITY YTD Change
IPI US EQUITY YTD % CHANGE
31.12.2008
415.3
3.46x
212.4
6.77x
142.7
11.23x
250
31.12.2009
31.12.2010
301.8
359.3
6.92x
7.46x
109.7
103.0
19.02x
26.00x
55.3
45.3
29.08x
61.66x
Profitability
LTM-4Q
31.12.2011
443.0
3.46x
189.5
8.08x
109.4
18.30x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
451.3
3.44x
183.0
8.47x
87.4
18.29x
183.00
135.40
30.00%
30.34%
6.83%
8.01%
0.40%
37.7%
39.2%
26.9%
19.4%
2.41
1.32
0.00%
0.00%
12.76
4.34
Price/ Cash Flow
06/yy
6'385.4
7.18x
3'456.7
3.71x
1'744.5
7.19x
LTM
06/yy
5'892.2
8.34x
3'120.4
3.68x
1'778.7
6.05x
FY+1
1.30
54.90
6.79
-43.73%
-44.53%
1.301
15
2.600
6'050'143
2'786'095
1'703'890
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
374.1
379.7
94.0
97.0
2.52x
2.48x
10.02x
9.81x
119.2
110.9
29.5
26.5
8.05x
8.65x
8.61x
9.02x
40.4
27.3
9.9
7.7
21.87x
28.88x
38.22x
34.94x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
202.21
-70.06
0.38
0.88
0.0%
0.0%
0.40
0.70
28.61
84.16
30.19
68.93
25.00
7'000.0
6'000.0
20.00
5'000.0
15.00
4'000.0
3'000.0
10.00
2'000.0
5.00
0.00
01.01.2010
1'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Intrepid Potash Inc

Holdings By:
All
Holder Name
JORNAYVAZ III ROBERT
BLACKROCK
STATE STREET
GOLDMAN SACHS GROUP
JP MORGAN
DWS INVESTMENT S A
DEUTSCHE BANK AG
DISCOVERY CAPITAL MA
BMO FINANCIAL CORP
AJO, LP
MORGAN STANLEY
TIAA CREF INVESTMENT
LSV ASSET MANAGEMENT
Firm Name
Cowen and Company
JPMorgan
BMO Capital Markets
Miller Tabak + Co., LLC
BGC Partners
Cowen and Company
Gabelli & Co
Piper Jaffray
Scotia Capital
Stifel
Goldman Sachs
Feltl & Company
Barclays
Credit Suisse
S&P Capital IQ
EVA Dimensions
Portfolio Name
VANGUARD GROUP INC
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
DISCOVERY CAPITAL MA
BMO FINANCIAL CORP
AJO, LP
n/a
TIAA-CREF INVESTMENT
LSV ASSET MANAGEMENT
Analyst
VINCENT ANDREWS
JEFFREY J ZEKAUSKAS
JOEL JACKSON
TIM TIBERIO
MARK R GULLEY
CHARLES NEIVERT
AMON R WILKES
COLIN ISAAC
MICHAEL E COX
BEN ISAACSON
DONALD D CARSON
PAUL A MASSOUD
ADAM SAMUELSON
BRENT R RYSTROM
MATTHEW J KORN
KEVIN KIRKEBY
CRAIG STERLING
Source
13F
ULT-AGG
ULT-AGG
ULT-AGG
13F
13F
ULT-AGG
13F
ULT-AGG
13F
13F
MF-AGG
ULT-AGG
13F
13F
13F
ULT-AGG
13F
13F
13F
Recommendation
Overwt/Attractive
overweight
market perform
hold
sell
underperform
buy
neutral
neutral
sector outperform
Positive
hold
Sell/Cautious
hold
overweight
neutral
sell
buy
Amt Held
4'237'326
4'174'930
2'927'749
1'603'582
1'467'471
1'361'605
1'213'212
1'187'973
1'129'521
1'100'600
1'074'320
1'071'396
1'054'616
1'028'059
1'003'765
985'290
793'377
774'990
771'875
690'460
% Out
7.4
7.29
5.11
2.8
2.56
2.38
2.12
2.07
1.97
1.92
1.88
1.87
1.84
1.79
1.75
1.72
1.39
1.35
1.35
1.21
Weighting
Change
5
5
3
3
1
1
5
3
3
5
4
3
1
3
5
3
1
5
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
Latest Chg
207'447
(396'409)
(25'762)
1'347'210
334'471
(141'856)
278'140
5'521
(813'693)
83'950
103'496
105'973
24'033
419'500
(7'726)
(27'700)
14'856
(222'700)
(431'410)
111'780
Target Price
250
210
195
225
175
170
#N/A N/A
184
204
234
275
165
179
207
244
230
175
#N/A N/A
File Dt
Inst Type
31.03.2013
Investment Advisor
30.06.2013
Investment Advisor
07.08.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
07.08.2013
Investment Advisor
31.03.2013
Investment Advisor
30.06.2013
Investment Advisor
31.03.2013
Investment Advisor
30.04.2013
Investment Advisor
28.06.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
31.03.2013
Investment Advisor
Date
12 month
3 month
12 month
12 month
12 month
12 month
Not Provided
12 month
12 month
12 month
12 month
12 month
12 month
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Date
08.08.2013
08.08.2013
07.08.2013
07.08.2013
07.08.2013
07.08.2013
07.08.2013
07.08.2013
07.08.2013
06.08.2013
06.08.2013
05.08.2013
30.07.2013
30.07.2013
11.07.2013
12.06.2013
09.05.2013
15.01.2013
08.08.2013
Israel Chemicals Ltd

Israel Chemicals Limited, through its subsidiaries, develops, manufactures, and
agricultural and chemical industries. The Company produces a range of minerals,
such as potassium chloride, potassium sulfate, potassium nitrate, industrial
salt, bromine and fertilizers.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (28.01.2013)
52-Week Low (07.08.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
ICL IT EQUITY YTD Change
ICL IT EQUITY YTD % CHANGE
12/2012
03/yy
5'175.00
2'757.00
1'498'797.00
2817
-45.53%
2.18%
1.74%
1'272.6
35'850.33
2'044.27
0.0
24.5
356.64
11'646.00
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13
m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
6'904.0
1.47x
2'611.5
3.87x
2'004.2
4.44x
50
45
40
35
30
25
20
15
10
5
0
a-12
31.12.2009
31.12.2010
4'554.3
5'691.5
3.93x
4.02x
1'233.3
1'560.0
14.51x
14.65x
770.4
1'024.7
21.63x
21.18x
Profitability
LTM-4Q
31.12.2011
7'067.8
2.07x
2'203.8
6.65x
1'511.8
8.70x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
6'672.2
2.54x
1'900.8
8.90x
1'300.5
11.67x
1'900.81
1'613.75
24.19%
22.87%
16.40%
35.49%
0.88%
41.3%
27.4%
22.7%
19.5%
1.73
0.75
26.39%
60.56%
4.97
2.93
Price/ Cash Flow
03/yy
726.2
17.27x
378.6
8.43x
305.7
11.72x
LTM
03/yy
582.5
23.74x
250.3
13.82x
178.7
21.43x
FY+1
8.57
1.09
428.47
-37.56%
-35.36%
1.085
18
3.556
3'685'421
2'953'331
2'389'988
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
6'615.7
6'624.0
1'576.0
1'479.0
1.78x
1.80x
7.26x
7.75x
1'764.2
1'634.9
393.0
369.0
6.60x
7.12x
1'143.9
1'017.4
242.0
222.0
8.92x
11.56x
11.42x
11.94x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
32.95
21.37
0.84
1.03
60.6%
37.5%
0.88
2.12
73.39
124.37
61.22
141.18
25.00
800.0
700.0
20.00
600.0
500.0
15.00
400.0
10.00
300.0
200.0
5.00
0.00
31.12.2009
100.0
0.0
30.06.2010
31.12.2010
30.06.2011
31.12.2011
30.06.2012
31.12.2012
30.06.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013

Holdings By:
All
Holder Name
ISRAEL CORP LTD
MINISTRY OF FINANCE
ARAB METALS CO
SOCIAL SECURITY CORP
ISLAMIC DEVELOPMENT
GOVERNMENT OF IRAQ
LIBYAN ARAB FOREIGN
GENERAL INVESTMENTS
FRANKLIN RESOURCES
PRUDENTIAL FINANCIAL
BANK OF NOVA SCOTIA
HARDING LOEVNER LP
MANUFACTURERS & TRAD
PICTET FUNDS
Firm Name
Barclays
EVA Dimensions
HSBC
Deutsche Bank
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
n/a
Analyst
MATIJA GERGOLET
TIMOTHY STANISH
YONAH WEISZ
ALEKSANDAR STOJANOVSKI
Source
Research
Research
Research
Research
Research
Research
Research
Research
ULT-AGG
MF-AGG
MF-AGG
ULT-AGG
ULT-AGG
MF-AGG
MF-AGG
ULT-AGG
Recommendation
neutral/neutral
underweight
underweight
sell
Amt Held
23'294'614
22'398'101
16'601'699
4'342'968
4'300'000
3'920'707
3'386'250
3'286'095
253'792
101'036
33'870
21'163
8'894
7'924
2'100
-
% Out
27.96
26.88
19.93
5.21
5.16
4.71
4.06
3.94
0.3
0.12
0.04
0.03
0.01
0.01
0
0
Weighting
Change
3
1
1
1
M
N
D
M
Latest Chg
9'696
(16'963)
(791)
Target Price
49
#N/A N/A
41
31
File Dt
01.08.2013
01.08.2013
01.08.2013
01.08.2013
01.08.2013
01.08.2013
01.08.2013
01.08.2013
28.06.2013
31.05.2013
31.05.2013
28.06.2013
31.12.2012
31.10.2012
31.05.2013
31.08.2012
Date
12 month
Not Provided
Not Provided
12 month
Inst Type
Other
Government
Corporation
Government
Bank
Government
Investment Advisor
Corporation
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Bank
Investment Advisor
Investment Advisor
Investment Advisor
Date
11.07.2013
21.06.2013
17.04.2013
05.02.2013
08.08.2013
Fauji Fertilizer Co Ltd

Fauji Fertilizer Company Limited manufactures, purchases and markets
fertilizers.
Price/Volume
140
12.0 M
120
10.0 M
100
8.0 M
80
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (23.01.2013)
52-Week Low (11.03.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
FFC PA EQUITY YTD Change
FFC PA EQUITY YTD % CHANGE
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
4.0 M
40
2.0 M
20
0
a-12
31.12.2009
31.12.2010
72'914.8
88'154.7
1.05x
0.97x
21'876.2
28'122.7
3.48x
3.05x
8'738.7
11'859.7
7.99x
7.20x
Profitability
LTM-4Q
31.12.2011
111'111.9
1.12x
48'946.3
2.53x
23'351.9
5.43x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
122'251.6
1.26x
38'046.5
4.05x
20'362.1
7.32x
38'046.47
35'287.61
28.86%
28.47%
23.99%
90.21%
43.08%
1.43%
38.8%
31.6%
29.4%
16.7%
1.08
0.82
30.59%
111.50%
76.65
5.39
Price/ Cash Flow
o-12
n-12
d-12
j-13
f-13 m-13
a-13 m-13
j-13
j-13
LTM
03/yy
03/yy
105'321.3 132'942.1
5.37x
4.69x
45'934.1
41'953.9
3.88x
3.65x
22'194.6
22'294.3
7.16x
6.29x
14.45
0.87
7.59%
0.25%
0.870
18
4.333
1'213'120
1'731'337
2'208'225
FY+1
FY+2
12/13 Y
12/14 Y
FQ+1
FQ+2
06/13 Q2 09/13 Q3
- 17'985.8
7'554.0
19'550.0
20'310.0
4'340.6
7.11x
6.83x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
16.51
13.36
0.19
0.77
111.5%
47.8%
1.43
3.19
4.76
67.71
20.47
45.00
140'000.0
40.00
120'000.0
35.00
100'000.0
30.00
25.00
80'000.0
20.00
60'000.0
15.00
40'000.0
10.00
20'000.0
5.00
0.00
01.01.2010
.0 M
s-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
57'433.7
20'693.1
7'344.9
3.99x
6.0 M
60
12/2012
03/yy
121.60
106.80
1'176'500.00
109.03
-10.34%
2.09%
15.07%
1'272.2
138'712.13
31'599.77
0.0
6'194.9
32'874.26
151'822.84
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Fauji Fertilizer Co Ltd

Holdings By:
All
Holder Name
FAUJI FOUNDATION
NATIONAL INVESTMENT
PICIC ASSET MANAGEME
FRANKLIN RESOURCES
AL-MEEZAN INVESTMENT
ROBECO INVESTOR SERV
AL-MEEZAN INVESTMENT
BLACKROCK
ATLAS ASSET MANAGEME
TUNDRA FONDER AB / S
LEGG MASON CAPITAL M
JS INVESTMENTS LTD
GOLDMAN SACHS GROUP
UNION INVESTMENT LUX
LEGG MASON GLOBAL FU
SIMPLICITY AB
GOLDMAN SACHS ASSET
UBL FUND MANAGERS LT
Firm Name
Portfolio Name
n/a
n/a
Multiple Portfolios
n/a
MEEZAN ISLAMIC FUND
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Analyst
M.M. Securities (Pvt.) Ltd

IJAZ-UR-REHMAN
Foundation Securities (Private) Limited SANAKHAWAN SYED
JS Global Capital Ltd
NAVEED TEHSIN
Global Securities Pakistan Ltd
ARIF SHEIKH
AKD Securities (Pvt.) Ltd
RAZA JAFRI
Arif Habib Limited
TAHIR ABBAS
Summit Capital Pvt Ltd
MUHAMMAD SARFRAZ ABBASI
BMA Capital Management
FARID ALIANI
Fortune Securities Ltd
AHSAN HUSSAIN
EVA Dimensions
TIMOTHY STANISH
Optimus Capital Management Pvt Ltd ASIR ZAFFAR
Elixir Securities Pakistan
SATEESH BALANI
Topline Securities Pvt. Ltd
Asad I Siddiqui
Taurus Securities Limited
TAHA KHAN JAVED
Shajar Capital Pakisatan Pvt Ltd
YAWAR UZ ZAMAN
Credit Suisse
FARHAN RIZVI
First Capital Equities Limited
ABRAR HUSSAIN
Source
Co File
Co File
MF-AGG
ULT-AGG
MF-PART
MF-AGG
MF-AGG
MF-AGG
ULT-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
ULT-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Recommendation
buy
neutral
buy
buy
buy
buy
buy
buy
buy
overweight
buy
hold
buy
buy
buy
neutral
hold
Amt Held
564'204'254
42'018'042
9'014'547
8'296'903
5'294'609
3'241'524
2'117'363
1'617'057
1'419'050
1'186'849
865'131
854'778
792'164
762'550
619'300
600'000
450'974
380'000
336'500
300'000
% Out
44.35
3.3
0.71
0.65
0.42
0.25
0.17
0.13
0.11
0.09
0.07
0.07
0.06
0.06
0.05
0.05
0.04
0.03
0.03
0.02
Weighting
Change
5
3
5
5
5
5
5
5
5
5
5
3
5
5
5
3
3
M
M
M
M
M
U
M
M
M
U
M
M
M
M
M
M
M
Latest Chg
2'560'066
(313'592)
135'500
(538'602)
(604'700)
(1'376)
(220'700)
501'000
100'000
-
Target Price
137
119
131
126
142
129
130
125
130
#N/A N/A
128
117
126
128
136
130
72
File Dt
31.12.2012
31.12.2012
31.03.2013
31.12.2012
30.06.2013
31.05.2013
30.04.2013
31.03.2013
06.08.2013
30.06.2013
31.03.2013
30.06.2013
30.06.2013
31.05.2013
30.06.2013
28.03.2013
31.03.2013
31.03.2013
28.02.2013
31.03.2013
Date
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
12 month
Inst Type
Unclassified
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
01.08.2013
30.07.2013
29.07.2013
29.07.2013
26.07.2013
26.07.2013
26.07.2013
25.07.2013
25.07.2013
24.07.2013
24.07.2013
17.07.2013
07.06.2013
22.05.2013
13.05.2013
23.01.2013
21.01.2013
08.08.2013
CF Industries Holdings Inc

CF Industries Holdings, Inc. manufactures and distributes nitrogen and phosphate
produces ammonia and urea.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (30.01.2013)
52-Week Low (02.07.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
CF US EQUITY YTD Change
CF US EQUITY YTD % CHANGE
12/2012
01/yy
233.43
169.33
1'600'375.00
189.88
-18.66%
12.14%
32.06%
57.3
10'876.83
1'605.00
0.0
380.0
2'274.90
12'405.52
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
30.0 M
25.0 M
20.0 M
15.0 M
10.0 M
5.0 M
0
a-12
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13
m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
3'921.1
0.45x
1'251.0
1.42x
684.6
3.84x
31.12.2009
31.12.2010
2'608.4
3'965.0
1.30x
2.82x
780.8
1'301.5
4.34x
8.58x
365.6
349.2
11.05x
17.73x
Profitability
LTM-4Q
31.12.2011
6'097.9
1.83x
3'160.9
3.52x
1'539.2
6.38x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
6'104.0
2.05x
3'332.2
3.75x
1'848.7
7.32x
3'332.20
2'912.40
47.71%
47.31%
18.37%
35.58%
23.79%
0.61%
51.0%
53.0%
45.9%
30.3%
2.95
2.62
15.79%
27.19%
18.01
10.87
Price/ Cash Flow
LTM
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
FY+1
.0 M
a-13
0.84
1.30
57.00
1.67
-7.73%
-6.17%
1.301
21
3.429
1'212'465
1'213'942
1'059'921
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
5'562.6
5'321.5
1'170.3
1'361.6
2.12x
2.33x
2'768.1
2'480.7
554.7
667.8
4.48x
5.00x
5.03x
5.11x
1'421.0
1'199.4
244.3
309.0
7.96x
8.76x
9.05x
8.80x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
23.04
19.42
0.37
0.99
27.2%
20.3%
0.61
1.51
20.27
33.57
48.76
36.83
9.00
12'000.0
8.00
10'000.0
7.00
8'000.0
6.00
5.00
6'000.0
4.00
4'000.0
3.00
2.00
2'000.0
1.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013

Holdings By:
All
Holder Name
VANGUARD GROUP INC
JP MORGAN
BLACKROCK
GIC PRIVATE LIMITED
MONDRIAN INVESTMENT
VALUE PARTNERS GROUP
DWS INVESTMENT S A
VANGUARD GROUP INC
AGF INVESTMENTS INC
MANULIFE FUNDS DIREC
DIMENSIONAL FUND ADV
EASTSPRING INVESTMEN
PICTET FUNDS
MACQUARIE GROUP
TOUCHSTONE ADVISORS
SCHRODER INVESTMENT
Firm Name
Morgan Stanley
Goldman Sachs
UBS
JPMorgan
EVA Dimensions
BNP Paribas Equity Research
UOB Kay Hian
Essence Securities
BOCOM International Holdings
Macquarie
China International Capital Corp
Standard Chartered
Citic Securities Co., Ltd
SWS Research Co Ltd
First Shanghai Securities Ltd
AMTD Financial Planning Limited
Deutsche Bank
Hua Tai Securities Co., Ltd
Guoyuan Securities (HK) Ltd
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
n/a
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Analyst
JACK LU
CAROL JIN
BONAN LI
SCOTT DARLING
TIMOTHY STANISH
GORDON WAI
WANG AOCHAO
XU HAITAO
HE WEI
LAURA SHI
BIN GUAN
DUKE SUTTIKULPANICH
YIN XIAODONG
ALBERT MIAO
ZHANG ZHIBIN
KENNY TANG SING HING
DAVID HURD
YANG SHENKANG
XU JINGSHUN
Source
EXCH
ULT-AGG
ULT-AGG
ULT-AGG
EXCH
Co File
Short
ULT-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
ULT-AGG
13F
ULT-AGG
MF-AGG
ULT-AGG
ULT-AGG
MF-AGG
MF-AGG
Recommendation
buy
neutral/cautious
sell
suspended coverage
buy
buy
buy
add
long-term buy
outperform
accumulate
in-line
overweight
neutral
buy
buy
buy
add
buy
Amt Held
% Out
195'818'000 11.06
124'073'067
7.01
117'358'369
6.63
107'230'965
6.05
106'361'569
6.01
89'810'000
5.07
(87'533'339) -4.94
81'730'000
4.61
57'738'398
3.26
52'038'796
2.94
25'891'581
1.46
21'764'000
1.23
17'782'000
1
17'368'609
0.98
16'284'000
0.92
15'092'000
0.85
15'027'141
0.85
13'891'000
0.78
9'561'798
0.54
8'846'000
0.5
Weighting
5
3
1
#N/A N/A
5
5
5
4
5
5
4
3
5
3
5
5
5
4
5
Change
M
D
M
M
M
M
M
D
M
M
M
M
N
D
M
M
N
M
N
Latest Chg
(854'287)
3'566'000
(5'110'500)
(370'000)
15'092'000
(137)
762'505
4'376'000
Target Price
4
4
4
#N/A N/A
#N/A N/A
6
7
5
5
6
6
6
7
6
6
5
6
7
8
File Dt
Inst Type
04.02.2013
Bank
09.01.2013
Investment Advisor
06.08.2013
Investment Advisor
12.03.2013
Government
14.02.2013
Investment Advisor
18.07.2012
Investment Advisor
18.07.2012
Corporation
30.04.2013
Investment Advisor
30.06.2013
Investment Advisor
28.06.2013
Investment Advisor
31.12.2012
Unclassified
07.08.2013
Investment Advisor
30.06.2013
Investment Advisor
30.04.2013
Investment Advisor
28.03.2013
Investment Advisor
30.04.2013
Investment Advisor
28.06.2013
Investment Advisor
28.06.2013
Investment Advisor
31.03.2013
Investment Advisor
Date
12 month
12 month
12 month
Not Provided
Not Provided
12 month
Not Provided
6 month
Not Provided
12 month
12 month
12 month
6 month
Not Provided
12 month
Not Provided
12 month
6 month
12 month
Date
31.07.2013
18.07.2013
04.07.2013
12.06.2013
06.06.2013
03.06.2013
22.04.2013
26.03.2013
25.03.2013
22.03.2013
22.03.2013
01.03.2013
02.01.2013
20.12.2012
12.12.2012
12.12.2012
09.10.2012
02.04.2012
06.12.2011
08.08.2013
Arab Potash Co
Arab Potash Company PLC manufactures and supplies minerals for the use in the
produces and imports potash fertilizers, phosphate-based and nitrogen-based
fertilizers, and compound fertilizers. Sinofert operates in the Peoples
Republic of China.
Price/Volume
3
90.0 M
80.0 M
70.0 M
60.0 M
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (27.12.2012)
52-Week Low (06.08.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
APOT JR EQUITY YTD Change
APOT JR EQUITY YTD % CHANGE
12/2012
01/yy
50.25
39.00
12.00
39.51
-21.37%
1.31%
4.53%
83.3
3'291.87
7.73
0.0
0.0
329.54
2'920.44
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
40.0 M
30.0 M
20.0 M
10.0 M
0
a-12
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13
m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
667.6
4.19x
382.1
7.32x
311.4
9.41x
50.0 M
31.12.2009
31.12.2010
373.7
559.0
7.84x
6.12x
179.5
226.2
16.31x
15.13x
131.8
162.7
22.90x
22.28x
Profitability
LTM-4Q
31.12.2011
720.2
4.56x
367.0
8.94x
299.7
12.26x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
586.3
6.06x
276.6
12.85x
198.8
19.49x
276.60
212.38
36.23%
38.98%
15.08%
17.19%
17.22%
0.49%
51.3%
43.0%
32.1%
33.9%
5.67
4.17
0.71%
0.80%
4.96
4.41
Price/ Cash Flow
LTM
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
FY+1
.0 M
a-13
1.01
1.79
-6.44%
-10.48%
1.009
5
1.400
5
57
105
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
06/13 Q2 09/13 Q3
640.7
774.7
161.0
150.0
4.39x
3.47x
291.7
346.3
10.01x
8.43x
218.3
274.0
57.0
15.03x
12.63x
14.69x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
82.71
81.97
-1.48
0.03
0.8%
0.8%
0.49
1.43
73.52
82.67
123.85
35.00
50'000.0
45'000.0
30.00
40'000.0
25.00
35'000.0
30'000.0
20.00
25'000.0
20'000.0
15.00
15'000.0
10.00
10'000.0
5.00
0.00
01.01.2010
5'000.0
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Arab Potash Co
Holdings By:
All
Holder Name
PCS JORDAN IIC
POTASH CORP OF SASKA
DIMENSIONAL FUND ADV
VANGUARD GROUP INC
NORGES BANK
ING INVESTMENT MANAG
NORDEA INV MANAGEMEN
NORDEA INVESTMENT FU
MACQUARIE GROUP
BLACKROCK
GLOBAL X MANAGEMENT
LEGG MASON CAPITAL M
PICTET FUNDS
TRANSAMERICA INVESTM
CB-ACCENT LUX SICAV
LEMANIK FUNDS
AMUNDI JAPAN
JOHN HANCOCK ADVISER
Firm Name
Goldman Sachs
Essence Securities
EVA Dimensions
Masterlink Securities
Macquarie
UOB Kay Hian
BOCOM International Holdings
Jefferies
BNP Paribas Equity Research
Standard Chartered
First Shanghai Securities Ltd
Hua Tai Securities Co., Ltd
Deutsche Bank
SWS Research Co Ltd
Guotai Junan
Bank of China International
Portfolio Name
n/a
n/a
n/a
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Analyst
CAROL JIN
XU HAITAO
TIMOTHY STANISH
LI XIN
LAURA SHI
WANG AOCHAO
HE WEI
BIN GUAN
JACK LU
GORDON WAI
DUKE SUTTIKULPANICH
ZHANG ZHIBIN
YUNFENG FAN
DAVID HURD
SHI MING
GRACE LIU
NI XIAOMAN
Source
Co File
Co File
ULT-AGG
MF-AGG
MF-AGG
ULT-AGG
MF-AGG
ULT-AGG
MF-AGG
MF-AGG
ULT-AGG
ULT-AGG
MF-AGG
MF-AGG
ULT-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Recommendation
neutral/cautious
buy
overweight
hold
outperform
hold
neutral
hold
underperform
hold
outperform
buy
buy
buy
neutral
accumulate
hold
Amt Held
3'698'660'874
1'563'312'141
49'380'000
47'523'153
43'734'993
38'156'000
30'600'813
29'928'000
27'302'000
11'432'000
8'172'000
7'463'500
5'088'715
4'652'000
4'200'000
3'808'000
3'000'000
3'000'000
2'900'000
2'892'000
% Out
52.65
22.26
0.7
0.68
0.62
0.54
0.44
0.43
0.39
0.16
0.12
0.11
0.07
0.07
0.06
0.05
0.04
0.04
0.04
0.04
Weighting
Change
3
5
5
3
5
3
3
3
1
3
5
5
5
5
3
4
3
D
M
M
M
M
M
M
M
M
M
M
M
M
N
M
M
M
Latest Chg
23'880'000
(86'714'000)
(155'116)
21'628'000
11'432'000
590'000
(2'500'000)
754'000
2'900'000
-
Target Price
1
2
#N/A N/A
2
2
2
2
2
2
2
2
2
2
2
2
5
4
File Dt
31.12.2012
31.12.2012
30.04.2013
30.06.2013
31.12.2012
30.06.2013
30.06.2013
07.08.2013
30.06.2013
28.03.2013
30.06.2011
06.08.2013
06.08.2013
30.06.2013
31.08.2012
31.03.2013
31.07.2013
28.06.2013
25.01.2012
30.06.2013
Date
12 month
6 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
12 month
12 month
12 month
12 month
12 month
6 month
12 month
Not Provided
Not Provided
Not Provided
Inst Type
Government
Government
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
07.08.2013
31.07.2013
06.06.2013
04.06.2013
08.05.2013
22.04.2013
02.04.2013
29.03.2013
28.03.2013
15.03.2013
01.03.2013
28.12.2012
26.10.2012
06.09.2012
26.08.2011
10.03.2011
22.03.2010
08.08.2013
Acron JSC
Acron JSC is a vertically integrated Russian mineral fertilizer producer with a
diversified product portfolio consisting of multi-nutrient fertilizers such as
NPK and bulk blends, as well as straight nitrogen based products such as urea,
ammonium nitrate and UAN.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (10.01.2013)
52-Week Low (31.07.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
AKRN RM EQUITY YTD Change
AKRN RM EQUITY YTD % CHANGE
12/2012
03/yy
1'555.00
1'007.00
3'944.00
1045.6
-32.80%
3.83%
9.78%
40.5
42'382.35
62'214.00
0.0
15'698.0
49'533.00
72'416.35
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
.2 M
1400
.1 M
1200
.1 M
1000
.1 M
800
.1 M
600
.1 M
400
.0 M
200
.0 M
0
a-12
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13 m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
43'131.6
0.98x
17'400.2
2.44x
9'340.4
1.38x
1600
31.12.2009
31.12.2010
37'541.7
46'737.7
1.85x
1.85x
6'899.8
10'396.8
10.08x
8.30x
7'081.4
5'584.1
5.29x
8.82x
Profitability
LTM-4Q
31.12.2011
65'431.0
1.51x
29'554.0
3.35x
18'329.0
3.45x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
71'112.0
1.20x
20'390.0
4.17x
14'195.0
3.99x
20'390.00
18'420.00
25.90%
26.66%
8.12%
19.37%
10.11%
0.49%
43.1%
29.9%
26.7%
20.0%
2.25
1.56
39.72%
98.10%
24.47
3.72
Price/ Cash Flow
LTM
03/yy
69'986.8
5.33x
30'347.4
3.06x
19'756.7
3.05x
03/yy
69'251.0
5.14x
20'688.0
4.04x
11'444.0
4.72x
FY+1
.0 M
a-13
0.84
6.23
-16.53%
-21.50%
0.840
20
4.300
17'168
18'438
16'015
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
06/13 Q2 09/13 Q3
70'505.2
71'373.9
1.40x
1.55x
17'584.4
15'748.3
4.12x
4.60x
10'315.2
8'258.2
4.33x
5.71x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
17.70
3.70
0.68
3.04
98.1%
44.0%
0.49
1.62
14.92
98.04
30.45
84.21
25.00
80'000.0
70'000.0
20.00
60'000.0
50'000.0
15.00
40'000.0
10.00
30'000.0
20'000.0
5.00
0.00
03.01.2010
10'000.0
0.0
03.07.2010
03.01.2011
03.07.2011
03.01.2012
03.07.2012
03.01.2013
03.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Acron JSC
Holdings By:
All
Holder Name
AKRONAGROSERVICE
REFKO HOLDINGS LTD
QUESTAR HOLDINGS LTD
GRANADILLA HOLDINGS
AGROBERRY VENTURES L
EAST CAPITAL ASSET M
URALSIB JSC
NORGES BANK
VANGUARD GROUP INC
HANDELSBANKEN FONDER
ANTONOV IVAN NIKOLAE
ALLIANZ INVESTMENTS
PICTET FUNDS
KUNITSKY VLADIMIR YA
GUSTAVIADAVEGARDH FO
CLARIDEN SICAV
POPOV ALEXANDER
JULIUS BAER MULTICOO
UNION BANCAIRE PRIVE
BARCLAYS MULTI-MANAG
Firm Name
BCS
UBS
Infina Investment Company
Nomos Bank
UFS-Finance Investment Company
VTB Capital
Uralsib
Otkritie Capital
EVA Dimensions
Deutsche Bank
Renaissance Capital
RMG Securities
Veles Capital
HSBC
Gazprombank
Credit Suisse
Raiffeisenbank AG
Alfa-Bank
Grandis Capital
Portfolio Name
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Analyst
OLEG PETROPAVLOVSKIY
KIRILL TACHENNIKOV
JULIA GAPON
YURI VOLOV
ANNA MILOSTNOVA
KEVIN WHYTE
ARTEM EGORENKOV
DENIS GABRIELIK
TIMOTHY STANISH
Alexander Ignatyuk
BOB KOMMERS
BORIS KRASNOJENOV
ELENA SADOVSKAYA
VASILIY TANURKOV
YONAH WEISZ
ALEKSEI ASTAPOV
MIKHAIL PRIKLONSKY
KONSTANTIN YUMINOV
MARIA BOVYKINA
DMITRY TEREKHOV
Source
Co File
Co File
Co File
Co File
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Co File
MF-AGG
ULT-AGG
Co File
MF-AGG
MF-AGG
Co File
MF-AGG
MF-AGG
MF-AGG
Recommendation
sell
buy
hold
buy
buy
buy
buy
buy
buy
hold
buy
buy
buy
buy
neutral
overweight
neutral
buy
overweight
buy
Amt Held
9'432'262
8'033'839
7'681'193
6'323'304
2'772'526
635'179
151'772
117'027
80'528
56'084
32'022
27'342
25'000
14'998
14'000
13'420
12'971
10'244
9'451
7'900
% Out
23.27
19.82
18.95
15.6
6.84
1.57
0.37
0.29
0.2
0.14
0.08
0.07
0.06
0.04
0.03
0.03
0.03
0.03
0.02
0.02
Weighting
Change
1
5
3
5
5
5
5
5
5
3
5
5
5
5
3
5
3
5
5
5
D
M
M
M
M
U
M
M
M
N
M
M
M
M
M
M
M
N
M
N
Latest Chg
(55'782)
46'618
(2'570)
(10'000)
14'000
(720)
5'000
1'800
Target Price
1'022
1'749
2'230
1'905
1'886
1'626
2'037
1'863
#N/A N/A
1'690
1'800
1'676
1'736
3'030
1'600
1'700
1'340
2'325
1'660
3'309
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.03.2013
31.05.2012
31.12.2012
31.03.2013
31.07.2013
31.12.2012
30.12.2011
31.03.2013
31.12.2012
31.03.2013
31.05.2013
31.12.2012
31.03.2013
31.12.2012
28.06.2013
Date
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
12 month
12 month
Not Provided
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Inst Type
Unclassified
Holding Company
n/a
Unclassified
n/a
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
n/a
Investment Advisor
Investment Advisor
n/a
Investment Advisor
Investment Advisor
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Date
07.08.2013
31.07.2013
18.07.2013
12.07.2013
12.07.2013
05.07.2013
20.06.2013
10.06.2013
06.06.2013
03.06.2013
29.05.2013
29.05.2013
29.04.2013
19.04.2013
17.04.2013
17.04.2013
03.04.2013
27.03.2013
12.03.2013
25.01.2012
08.08.2013
Agrium Inc
Agrium Inc. supplies nitrogen, potash and phosphate for agricultural,
products. The Company's products include industrial salt, edible salt, purple
azo dye salt.
Price/Volume
40
35
30
25
20
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (28.01.2013)
52-Week Low (06.08.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
AGU CN EQUITY YTD Change
AGU CN EQUITY YTD % CHANGE
12/2012
03/yy
116.38
83.46
826'757.00
86.5
-25.67%
3.65%
9.25%
149.4
12'923.94
3'961.00
0.0
4.0
726.00
15'755.35
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
10
5
0
a-12
31.12.2009
31.12.2010
9'129.0
10'743.0
1.15x
1.55x
941.0
1'470.0
11.15x
11.34x
366.0
713.0
23.92x
19.92x
Profitability
o-12
n-12
d-12
j-13
f-13 m-13
a-13 m-13
j-13
j-13
Market Data
LTM-4Q
31.12.2011
15'470.0
0.75x
2'706.0
4.30x
1'371.0
6.96x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
16'686.0
1.08x
2'715.0
6.66x
1'494.0
10.53x
2'715.00
2'271.00
13.61%
12.54%
9.17%
21.83%
15.94%
1.01%
26.9%
16.4%
13.5%
9.0%
1.54
0.53
24.79%
57.27%
6.58
2.82
Price/ Cash Flow
03/yy
6'112.2
48.01x
0.0
0.00x
2'220.8
22.85x
LTM
03/yy
7'888.8
31.92x
0.0
0.00x
2'360.9
19.81x
FY+1
1.81
1.22
148.90
5.21
-8.61%
-11.80%
1.218
28
4.107
1'298'005
982'452
892'629
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
16'748.9
17'404.8
3'225.5
3'257.5
0.90x
0.84x
4.94x
4.72x
2'482.1
2'490.9
447.5
499.5
6.35x
6.33x
6.25x
6.24x
1'329.8
1'293.3
209.1
245.8
9.08x
9.17x
9.14x
9.08x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
24.11.2005
BBB
STABLE
10.12.2004
NR
21.05
11.11
1.25
1.47
57.3%
36.4%
1.01
5.10
55.49
129.23
139.01
41.94
100.00
9'000.0
90.00
8'000.0
80.00
7'000.0
70.00
6'000.0
60.00
5'000.0
50.00
4'000.0
40.00
3'000.0
30.00
2'000.0
20.00
1'000.0
10.00
0.00
01.01.2010
s-12
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
10'031.0
0.74x
2'380.0
3.13x
1'322.0
3.54x
15
20.0 M
18.0 M
16.0 M
14.0 M
12.0 M
10.0 M
8.0 M
6.0 M
4.0 M
2.0 M
.0 M
a-13
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Agrium Inc
Holdings By:
All
Holder Name
BLACKROCK
SINOCHEM CORP
SINOFERT HOLDINGS LT
CHINA CINDA ASSET MA
CHINA CONSTRUCTION B
CHINA HUARONG ASSET
CHINA LIFE INSURANCE
GUANGZHOU HUAMEI FEN
WANG YIHONG
E FUND MANAGEMENT
BEIJING HUABEI POWER
CHINA ASSET MANAGEME
YINHUA FUND MANAGEME
SWS MU FUND MANAGEME
RONGTONG FUND MANAGE
HARVEST FUND MANAGEM
UBS SDIC FUND MANAGE
CHINA SOUTHERN FUND
HUATAI-PINEBRIDGE FU
MORGAN STANLEY
Firm Name
BMO Capital Markets
SWS Research Co Ltd
PingAn Securities
Everbright Securities Co., Ltd
Capital Securities Corp
Industrial Securities
China Minzu Securities Co Ltd
Tebon Securities Co Ltd
Central China Securities
China Investment Securities
Founder Securities
China Securities Co., Ltd
Rising Securities Co.,LTD
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Analyst
CAROL JIN
DENG JIAN
YAN ZHUBING
WANG XIXIN
ZHENG CHUNMING
NI XIAOMAN
BIN GUAN
YIN XIAODONG
ZHENG FANGBIAO
YU WALI
LI XIANGFENG
LI LINLIN
LIANG HAO
ZHENGHUA ZHANG
LIANG BIN
TEAM COVERAGE
Source
Co File
Co File
Co File
Co File
Co File
Co File
ULT-AGG
Co File
Co File
MF-AGG
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
ULT-AGG
Recommendation
Sell/Cautious
outperform
buy
buy
hold
hold
accumulate
buy
buy
buy
outperform
add
strong buy
add
add
outperform
Amt Held
492'901'654
238'791'954
142'260'369
115'702'308
62'004'881
32'909'977
32'190'525
29'679'406
28'932'924
13'456'798
11'952'157
10'264'119
10'221'104
10'037'840
7'839'118
5'061'392
3'864'692
2'982'532
2'922'107
2'310'068
% Out
30.99
15.01
8.94
7.27
3.9
2.07
2.02
1.87
1.82
0.85
0.75
0.65
0.64
0.63
0.49
0.32
0.24
0.19
0.18
0.15
Weighting
Change
1
5
5
5
3
3
4
5
5
5
5
4
5
4
4
5
D
M
M
M
M
D
D
M
M
M
M
M
N
N
M
N
Latest Chg
(2'388'072)
6'807'320
(1'514'636)
4'681'710
(314'075)
(3'548'953)
3'789'021
(114'391)
-
Target Price
9
#N/A N/A
#N/A N/A
33
29
67
#N/A N/A
#N/A N/A
#N/A N/A
48
70
#N/A N/A
#N/A N/A
#N/A N/A
71
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.03.2013
Date
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
6 month
6 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Other
Government
Corporation
Government
Government
Government
Government
Investment Advisor
n/a
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
07.08.2013
02.08.2013
24.06.2013
21.04.2013
11.03.2013
14.01.2013
07.01.2013
25.06.2012
27.04.2012
14.02.2012
01.01.2012
20.12.2011
07.09.2011
19.06.2011
08.12.2010
31.08.2010
08.08.2013
China BlueChemical Ltd

China BlueChemical Ltd. manufactures nitrogen fertilizers. The Company
other chemical products. The Company's products include urea and
pentaerythritol that is used for the manufacturing of synthetic resin,
pesticides, and industrial dynamite.
Price/Volume
14
50.0 M
45.0 M
40.0 M
35.0 M
30.0 M
25.0 M
20.0 M
15.0 M
10.0 M
5.0 M
.0 M
a-13
12
10
8
Valuation Analysis
Latest Fiscal Year:

LTM as of:
52-Week High (10.01.2013)
52-Week Low (31.07.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
3983 HK EQUITY YTD Change
3983 HK EQUITY YTD % CHANGE
12/2012
03/yy
5.87
3.58
3'631'273.00
3.77
-35.78%
5.31%
3.06%
1'771.0
17'379.70
23.10
0.0
1'417.3
2'603.99
12'555.31
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
2
0
a-12
s-12
o-12
n-12
d-12
j-13
f-13 m-13
a-13 m-13
j-13
j-13
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
6'811.8
1.48x
2'522.0
3.99x
1'608.5
8.00x
31.12.2009
31.12.2010
5'794.6
6'867.3
3.19x
3.06x
1'989.2
2'397.5
9.29x
8.77x
984.7
1'175.3
19.92x
18.89x
Profitability
31.12.2011
9'756.3
2.15x
3'547.5
5.92x
1'985.8
11.09x
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
31.12.2012
10'739.2
1.69x
3'450.0
5.25x
1'810.5
10.73x
3'449.96
2'663.96
24.81%
24.28%
10.78%
14.29%
13.92%
0.64%
30.8%
32.1%
24.8%
16.9%
2.33
1.25
0.13%
0.17%
52.36
4.73
Price/ Cash Flow
LTM-4Q
LTM
03/yy
03/yy
-
FY+1
-
5.04
1.05
1'663.77
-20.58%
-24.71%
1.046
18
4.333
4'321'856
6'480'859
5'683'325
FY+2
12/13 Y
12/14 Y
11'934.5
12'511.5
0.97x
0.87x
3'825.0
4'076.6
3.28x
3.08x
1'932.7
1'998.9
7.05x
6.83x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
FQ+1
FQ+2
163.19
89.29
-0.75
0.01
0.2%
0.2%
0.64
1.05
6.99
77.45
17.36
67.08
1'400.00
25'000.0
1'200.00
20'000.0
1'000.00
15'000.0
800.00
600.00
10'000.0
400.00
5'000.0
200.00
0.00
01.01.2010
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
China BlueChemical Ltd

Holdings By:
All
Holder Name
COMMONWEALTH BANK OF
BJ HENGFENG RONGSHEN
BJ SHENGSHI MEILIN I
XA CHANGKE INVEST MG
BOSERA NEW GROWTH FU
PINGAN TRUST CO LTD
HUAAN INNOVATION FUN
E FUND MANAGEMENT
E FUND SI100 INDEX F
TONGLI SERIES FUND-I
NEW CHINA FUND MANAG
CQ YUXINTONG SINGLE
FULLGOAL FUND MANAGE
PING AN LIFE INSURAN
HUAAN FUND MANAGEMEN
Firm Name
Jefferies
Hong Yuan Securities
PingAn Securities
SWS Research Co Ltd
China Merchants Securities
Great Wall Securities
Guodu Securities Co Ltd
Founder Securities
AJ Securities
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Analyst
CAROL JIN
YANMING ZHANG
WU YING
CHENG LEI
SHAWN ZHOU
SU WENJIE
LU PING
LI XIANGFENG
ZHENG FANGBIAO
LING XUELIANG
YU WALI
SONG HUAISONG
LIANG HAO
WANG SHUANG
ZHENGHUA ZHANG
XIN ZHANG
Source
Co File
Co File
Co File
Co File
EXCH
EXCH
EXCH
MF-AGG
ULT-AGG
EXCH
MF-AGG
MF-AGG
MF-AGG
EXCH
MF-AGG
Co File
MF-AGG
EXCH
MF-AGG
MF-AGG
Recommendation
neutral/cautious
add
buy
buy
outperform
buy
strong buy
outperform
buy
buy
buy
outperform
strong buy
strong buy
add
buy
Amt Held
151'313'890
37'107'966
36'964'692
22'923'840
20'950'558
18'545'635
17'914'701
12'014'825
11'550'641
10'837'976
10'370'576
9'545'260
9'295'324
7'580'799
6'920'274
6'847'513
6'827'169
6'455'316
5'826'031
4'347'662
% Out
16.85
4.13
4.12
2.55
2.33
2.07
2
1.34
1.29
1.21
1.16
1.06
1.04
0.84
0.77
0.76
0.76
0.72
0.65
0.48
Weighting
Change
3
4
5
5
5
5
5
5
5
5
5
5
5
5
4
5
M
M
M
M
M
M
U
M
M
M
M
M
M
N
M
M
Latest Chg
(1'052'493)
5'309'508
(249'367)
1'314'681
(1'826'356)
5'064'637
3'738'207
4'194'988
Target Price
7
#N/A N/A
#N/A N/A
15
#N/A N/A
8
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
18
#N/A N/A
#N/A N/A
21
#N/A N/A
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
10.01.2012
10.01.2012
10.01.2012
31.12.2012
31.12.2012
10.01.2012
31.12.2012
31.12.2012
31.12.2012
10.01.2012
31.12.2012
31.12.2012
31.12.2012
10.01.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
6 month
Not Provided
Not Provided
6 month
Not Provided
Not Provided
Inst Type
Corporation
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Other
n/a
Investment Advisor
Government
n/a
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Investment Advisor
n/a
Investment Advisor
Insurance Company
Investment Advisor
Investment Advisor
Date
18.07.2013
08.07.2013
24.06.2013
21.04.2013
19.03.2013
14.01.2013
23.07.2012
25.06.2012
24.04.2012
16.04.2012
14.02.2012
09.01.2012
07.09.2011
07.03.2011
30.06.2010
04.01.2010
08.08.2013
Sinofert Holdings Ltd

Sinofert Holdings Ltd. manufactures and distributes fertilizers. The Company
fertilizers, including urea, liquid ammonia, and compound fertilizers. Through
its subsidiaries, the Company also manufactures petrochemical products and
operates restaurants.
Price/Volume
9
60.0 M
50.0 M
7
6
40.0 M
12/2012
03/yy
2.19
1.18
14'574'400.00
1.19
-45.66%
0.85%
1.98%
7'024.5
8'359.10
4'705.26
0.0
320.9
1'192.88
10'431.62
20.0 M
10.0 M
1
0
a-12
s-12
o-12
31.12.2008
45'392.9
31.12.2009
27'010.7
1'897.7
(2'200.4)
1'912.6
(1'443.8)
31.12.2010
29'271.1
1.07x
664.6
46.94x
535.7
44.67x
31.12.2011
36'685.0
0.44x
1'180.1
13.75x
678.0
18.30x
31.12.2012
41'190.1
0.35x
1'387.1
10.42x
878.4
12.10x
LTM-4Q
LTM
03/yy
03/yy
-
Profitability
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
1'387.05
916.45
2.22%
2.48%
3.21%
6.55%
6.67%
1.50%
5.8%
3.4%
2.2%
2.1%
1.26
0.26
17.82%
34.09%
28.73
6.05
Price/ Cash Flow
d-12
j-13
f-13 m-13
a-13
m-13
j-13
.0 M
a-13
j-13
FY+1
-
1.99
1.34
1'762.48
-22.04%
-35.72%
1.340
16
3.875
19'801'300
10'564'120
9'935'349
FY+2
12/13 Y
12/14 Y
41'875.9
43'457.9
0.27x
0.25x
1'448.5
1'578.0
7.20x
6.61x
859.4
1'008.4
7.51x
6.48x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
FQ+1
FQ+2
3.77
2.74
2.53
3.39
34.1%
25.0%
1.50
9.32
12.74
60.54
44.12
29.16
40.00
40'000.0
35.00
35'000.0
30.00
30'000.0
25.00
25'000.0
20.00
20'000.0
15.00
15'000.0
10.00
10'000.0
5.00
5'000.0
0.00
01.01.2010
n-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
30.0 M
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (23.01.2013)
52-Week Low (31.07.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
297 HK EQUITY YTD Change
297 HK EQUITY YTD % CHANGE
0.0
01.07.2010
01.01.2011
01.07.2011
01.01.2012
01.07.2012
01.01.2013
01.07.2013
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
08.08.2013
Sinofert Holdings Ltd

Holdings By:
All
Holder Name
SINOCHEM CORP
ZJ CITIC SECURITIES
CHANGSHENG FUND MANA
E FUND MANAGEMENT
CHINA INTERNATIONAL
INVESCO GREAT WALL F
SOCIAL SECURITY FUND
GUOTAI JUNAN SECURIT
FORTUNE SGAM FUND MA
BAOYING FUND MANAGEM
HFT INVESTMENT MANAG
CHINA NATURE ASSET M
CHINA MERCHANTS FUND
EVERBRIGHT PRAMERICA
Firm Name
Goldman Sachs
Northeast Securities Co Ltd
EVA Dimensions
Guotai Junan
PingAn Securities
China Galaxy Securities
Portfolio Name
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Analyst
KAISHENG LIN
WEIGANG WANG
TIMOTHY STANISH
HOU SHIXIA
WANG GANG
HUANG LILI
WANG SHUANG
QI QIUSHI
ZHEJIAN SONG
WU YING
LI LINLIN
LIANG BIN
LI GUOHONG
Source
Co File
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Co File
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Recommendation
outperform
neutral
sell
outperform
buy
hold
buy
add
buy
strong buy
add
add
buy
Amt Held
613'930'000
17'128'708
11'546'688
10'843'546
9'215'107
6'963'405
6'872'492
6'675'088
6'415'266
6'100'000
5'737'285
5'621'034
5'500'089
5'095'669
4'773'374
4'284'900
3'404'481
3'181'480
2'764'156
2'214'005
% Out
51.14
1.43
0.96
0.9
0.77
0.58
0.57
0.56
0.53
0.51
0.48
0.47
0.46
0.42
0.4
0.36
0.28
0.27
0.23
0.18
Weighting
Change
5
3
1
5
5
3
5
4
5
5
4
4
5
M
M
M
N
M
M
M
M
M
U
M
M
N
Latest Chg
11'355'534
(807'290)
7'423'833
(184'627)
6'475'476
2'017'039
6'415'266
5'526'544
1'704'440
4'708'932
(3'370'291)
3'884'900
3'287'501
2'114'889
Target Price
#N/A N/A
8
#N/A N/A
#N/A N/A
9
#N/A N/A
#N/A N/A
11
#N/A N/A
#N/A N/A
#N/A N/A
15
10
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
6 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
19.07.2013
27.06.2013
06.06.2013
27.03.2013
26.03.2013
25.12.2012
11.06.2012
01.03.2012
02.12.2011
18.11.2010
17.11.2010
02.12.2009
20.12.2008
08.08.2013
Luxi Chemical Group Co Ltd

Luxi Chemical Group Co., Ltd. manufactures and markets a variety of fertilizers
and other chemical products. The Company's products include urea, synthetic
ammonia, and ammonium acid carbonate.
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (21.05.2013)
52-Week Low (04.12.2012)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
000830 CH EQUITY YTD Change
000830 CH EQUITY YTD % CHANGE
Price/Volume
12/2012
01/yy
5.17
3.24
17'255'770.00
3.72
-28.05%
14.81%
22.28%
1'464.9
5'449.28
7'936.73
0.0
0.0
926.93
12'752.38
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
Price/ Cash Flow
1.20
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
6'791.9
0.91x
892.9
6.91x
229.5
16.27x
1
1
1
1
1
1
0
0
0
0
0
31.12.2009
31.12.2010
6'446.5
7'646.4
1.51x
1.50x
667.2
894.5
14.55x
12.82x
140.2
212.0
47.38x
30.70x
Profitability
LTM-4Q
31.12.2011
9'296.1
1.52x
1'492.4
9.48x
423.4
19.64x
31.12.2012
10'209.5
1.26x
1'403.6
9.17x
338.6
17.32x
1'403.65
655.88
6.42%
4.26%
2.53%
7.24%
0.65%
11.9%
7.3%
3.3%
0.35
0.12
49.84%
149.65%
210.98
5.68
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
LTM
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
FY+1
1.01
836.25
-16.59%
-7.00%
1.005
3
4.667
14'619'100
15'660'850
15'317'190
FY+2

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
3.09
-2.36
149.6%
59.9%
0.65
0.85
1.73
64.27
70.10
-4.30
1.0
0.8
0.7
0.80
0.60
0.40
0.6
0.5
0.4
0.3
0.2
0.20
FQ+2
0.9
1.00
FQ+1
12/13 Y
12/14 Y
06/13 Q2 09/13 Q3
13'115.0
16'887.0
2'199.0
2'663.0
5.80x
4.79x
604.0
807.0
9.47x
7.11x
S&P Issuer Ratings
0.1
0.0
2001
0.00
08.08.2013
Luxi Chemical Group Co Ltd

Holdings By:
All
Holder Name
SHANDONG LIAOCHENG L
SHENZHEN JUNYI HENGT
TIBET AUTO REG INVES
YONG ZHU
SD DONGXIN INVEST CO
FIRST-TRUST FUND MAN
CHANGJIANG SERCURITI
TAIKANG LIFE INSURAN
ZHANG KAI
MAANSHAN CHANGTAI IN
JIA XIAOXUE
CHINA SOUTHERN FUND
MORGAN STANLEY HUAXI
GF FUND MANAGEMENT C
PENGHUA FUND MANAGEM
JINCHENG ZHANG
Firm Name
Fortune CLSA Securities Limited
Qilu Securities Co Ltd
Sinolink Securities Co Ltd
HuaChuang Securities
Portfolio Name
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Analyst
YANG YAN
LI XUAN
LI LINLIN
LIU BO
GAO LI
LI GUOHONG
Source
Co File
Co File
Co File
Co File
Co File
MF-AGG
Co File
Co File
Co File
Co File
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Co File
Recommendation
buy
buy
add
buy
buy
buy
Amt Held
474'218'251
50'000'000
40'000'000
34'447'914
17'284'000
13'183'073
11'218'000
10'274'942
9'664'000
7'838'399
7'814'962
3'255'391
2'536'743
2'293'801
1'792'000
1'300'000
797'596
599'568
528'969
507'252
% Out
32.37
3.41
2.73
2.35
1.18
0.9
0.77
0.7
0.66
0.54
0.53
0.22
0.17
0.16
0.12
0.09
0.05
0.04
0.04
0.03
Weighting
Change
5
5
4
5
5
5
M
M
M
M
M
M
Latest Chg
10'083'239
255'723
2'536'743
803'851
1'773'500
1'300'000
797'596
93'025
(70'101)
-
Target Price
7
#N/A N/A
#N/A N/A
#N/A N/A
8
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
Not Provided
6 month
Not Provided
Inst Type
Corporation
Other
Government
n/a
Other
Investment Advisor
Other
Insurance Company
n/a
Other
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Date
07.06.2013
28.01.2013
23.11.2012
25.05.2012
22.11.2011
20.07.2010
08.08.2013
Qinghai Salt Lake Industry Co Ltd

Qinghai Salt Lake Industry Co., Ltd. develops, manufactures, and markets salt
azo dye salt.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (08.08.2012)
52-Week Low (25.06.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
12/2012
01/yy
35.85
15.60
6'663'871.00
16.82
-53.08%
7.82%
6.47%
1'590.5
26'752.36
18'110.02
0.0
1'758.3
2'166.01
45'789.47
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
Price/ Cash Flow
1.20
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
3'909.5
11.44x
2'903.3
15.40x
1'353.6
32.40x
1
1
1
1
1
1
0
0
0
0
0
31.12.2009
31.12.2010
4'227.2
5'452.1
10.78x
10.05x
2'271.9
2'691.6
20.06x
20.36x
1'229.7
2'268.3
35.62x
22.41x
Profitability
LTM-4Q
31.12.2011
6'314.3
9.46x
3'168.4
18.85x
2'481.1
17.84x
31.12.2012
7'811.2
7.72x
3'207.1
18.81x
2'524.3
16.89x
3'207.12
2'682.41
34.34%
41.22%
6.06%
15.54%
0.20%
51.3%
30.3%
32.3%
1.22
0.57
42.67%
113.68%
3.50
2.22
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
LTM
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
FY+1
1.09
435.33
-51.79%
-36.04%
1.085
7
3.714
9'863'820
8'329'453
7'383'841
FY+2

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
3.24
-6.21
113.7%
50.6%
0.20
0.31
104.39
164.47
227.45
79.33
1.0
0.8
0.7
0.80
0.60
0.40
0.6
0.5
0.4
0.3
0.2
0.20
FQ+2
0.9
1.00
FQ+1
12/13 Y
12/14 Y
06/13 Q2 09/13 Q3
7'887.0
8'972.0
1'637.0
1'901.0
3'589.0
3'139.0
12.76x
14.59x
2'223.2
2'290.8
12.41x
11.82x
S&P Issuer Ratings
0.1
0.0
2001
0.00
08.08.2013
Qinghai Salt Lake Industry Co Ltd

Holdings By:
All
Holder Name
QINGHAI STE OWNED AS
SINOCHEM CORP
CHINA HUARONG ASSET
WANG YIHONG
E FUND MANAGEMENT
CHINA SOUTHERN FUND
MORGAN STANLEY
Firm Name
Goldman Sachs
SWS Research Co Ltd
PingAn Securities
Founder Securities
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Analyst
CAROL JIN
DENG JIAN
YAN ZHUBING
WANG XIXIN
ZHENG CHUNMING
NI XIAOMAN
BIN GUAN
YIN XIAODONG
ZHENG FANGBIAO
YU WALI
LI XIANGFENG
LI LINLIN
LIANG HAO
ZHENGHUA ZHANG
LIANG BIN
TEAM COVERAGE
Source
Co File
Co File
Co File
Co File
Co File
Co File
ULT-AGG
Co File
Co File
MF-AGG
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
ULT-AGG
Recommendation
Sell/Cautious
outperform
buy
buy
hold
hold
accumulate
buy
buy
buy
outperform
add
strong buy
add
add
outperform
Amt Held
492'901'654
238'791'954
142'260'369
115'702'308
62'004'881
32'909'977
32'190'525
29'679'406
28'932'924
13'456'798
11'952'157
10'264'119
10'221'104
10'037'840
7'839'118
5'061'392
3'864'692
2'982'532
2'922'107
2'310'068
% Out
30.99
15.01
8.94
7.27
3.9
2.07
2.02
1.87
1.82
0.85
0.75
0.65
0.64
0.63
0.49
0.32
0.24
0.19
0.18
0.15
Weighting
Change
1
5
5
5
3
3
4
5
5
5
5
4
5
4
4
5
D
M
M
M
M
D
D
M
M
M
M
M
N
N
M
N
Latest Chg
(2'388'072)
6'807'320
(1'514'636)
4'681'710
(314'075)
(3'548'953)
3'789'021
(114'391)
-
Target Price
9
#N/A N/A
#N/A N/A
33
29
67
#N/A N/A
#N/A N/A
#N/A N/A
48
70
#N/A N/A
#N/A N/A
#N/A N/A
71
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.03.2013
Date
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
6 month
6 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Other
Government
Corporation
Government
Government
Government
Government
Investment Advisor
n/a
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
07.08.2013
02.08.2013
24.06.2013
21.04.2013
11.03.2013
14.01.2013
07.01.2013
25.06.2012
27.04.2012
14.02.2012
01.01.2012
20.12.2011
07.09.2011
19.06.2011
08.12.2010
31.08.2010
08.08.2013
Hubei Yihua Chemical Industry Co Ltd

Hubei Yihua Chemical Industry Co., Ltd. manufactures and sells fertilizers and
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (09.08.2012)
52-Week Low (25.06.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
12/2012
01/yy
13.17
6.09
18'214'917.00
6.95
-47.23%
14.12%
10.03%
897.9
6'240.17
17'889.48
0.0
1'636.5
1'539.28
23'391.86
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
Price/ Cash Flow
1.20
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
7'118.6
1.39x
1'080.3
9.15x
248.6
16.88x
1
1
1
1
1
1
0
0
0
0
0
31.12.2009
31.12.2010
8'752.7
11'514.4
2.14x
1.85x
1'506.7
2'271.4
12.43x
9.38x
237.7
572.5
48.74x
17.85x
Profitability
LTM-4Q
31.12.2011
17'725.6
1.35x
2'968.0
8.07x
817.7
11.70x
31.12.2012
19'273.2
1.45x
3'512.6
7.96x
866.2
11.51x
3'512.57
2'333.40
12.11%
8.32%
2.80%
13.34%
0.67%
19.3%
12.0%
4.5%
0.73
0.20
60.71%
291.15%
17.60
4.04
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
LTM
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
FY+1
1.02
649.06
-45.58%
-36.52%
1.021
6
4.500
13'746'750
10'381'710
12'178'520
FY+2

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
3.28
-1.66
291.1%
69.7%
0.67
1.05
20.74
90.40
48.66
49.64
1.0
0.8
0.7
0.80
0.60
0.40
0.6
0.5
0.4
0.3
0.2
0.20
FQ+2
0.9
1.00
FQ+1
12/13 Y
12/14 Y
06/13 Q2 09/13 Q3
17'975.0
19'490.0
4'458.0
4'616.0
3'073.0
3'296.0
7.61x
7.10x
738.5
886.5
7.54x
6.71x
S&P Issuer Ratings
0.1
0.0
2001
0.00
08.08.2013
Hubei Yihua Chemical Industry Co Ltd

Holdings By:
All
Holder Name
HUBEI YIHUA GROUP LT
PINGAN TRUST CO LTD
E FUND MANAGEMENT
CQ YUXINTONG SINGLE
Firm Name
Goldman Sachs
PingAn Securities
SWS Research Co Ltd
Founder Securities
AJ Securities
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Analyst
CAROL JIN
YANMING ZHANG
WU YING
CHENG LEI
SHAWN ZHOU
SU WENJIE
LU PING
LI XIANGFENG
ZHENG FANGBIAO
LING XUELIANG
YU WALI
SONG HUAISONG
LIANG HAO
WANG SHUANG
ZHENGHUA ZHANG
XIN ZHANG
Source
Co File
Co File
Co File
Co File
EXCH
EXCH
EXCH
MF-AGG
ULT-AGG
EXCH
MF-AGG
MF-AGG
MF-AGG
EXCH
MF-AGG
Co File
MF-AGG
EXCH
MF-AGG
MF-AGG
Recommendation
neutral/cautious
add
buy
buy
outperform
buy
strong buy
outperform
buy
buy
buy
outperform
strong buy
strong buy
add
buy
Amt Held
151'313'890
37'107'966
36'964'692
22'923'840
20'950'558
18'545'635
17'914'701
12'014'825
11'550'641
10'837'976
10'370'576
9'545'260
9'295'324
7'580'799
6'920'274
6'847'513
6'827'169
6'455'316
5'826'031
4'347'662
% Out
16.85
4.13
4.12
2.55
2.33
2.07
2
1.34
1.29
1.21
1.16
1.06
1.04
0.84
0.77
0.76
0.76
0.72
0.65
0.48
Weighting
Change
3
4
5
5
5
5
5
5
5
5
5
5
5
5
4
5
M
M
M
M
M
M
U
M
M
M
M
M
M
N
M
M
Latest Chg
(1'052'493)
5'309'508
(249'367)
1'314'681
(1'826'356)
5'064'637
3'738'207
4'194'988
Target Price
7
#N/A N/A
#N/A N/A
15
#N/A N/A
8
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
18
#N/A N/A
#N/A N/A
21
#N/A N/A
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
10.01.2012
10.01.2012
10.01.2012
31.12.2012
31.12.2012
10.01.2012
31.12.2012
31.12.2012
31.12.2012
10.01.2012
31.12.2012
31.12.2012
31.12.2012
10.01.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
6 month
Not Provided
Not Provided
6 month
Not Provided
Not Provided
Inst Type
Corporation
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Other
n/a
Investment Advisor
Government
n/a
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Investment Advisor
n/a
Investment Advisor
Insurance Company
Investment Advisor
Investment Advisor
Date
18.07.2013
08.07.2013
24.06.2013
21.04.2013
19.03.2013
14.01.2013
23.07.2012
25.06.2012
24.04.2012
16.04.2012
14.02.2012
09.01.2012
07.09.2011
07.03.2011
30.06.2010
04.01.2010
08.08.2013
Liaoning Huajin Tongda Chemicals Co Ltd

Liaoning Huajin Tongda Chemicals Company Ltd. manufactures and markets
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (07.02.2013)
52-Week Low (03.07.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
12/2012
01/yy
8.10
4.36
6'354'018.00
4.69
-42.10%
7.57%
9.09%
1'200.5
5'630.38
18'876.46
0.0
65.3
4'018.38
21'509.10
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
Price/ Cash Flow
1.20
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
3'662.0
3.14x
930.5
12.34x
384.8
15.88x
1
1
1
1
1
1
0
0
0
0
0
31.12.2009
31.12.2010
2'881.0
22'354.1
9.83x
1.27x
746.8
2'233.3
37.93x
12.75x
207.4
412.7
67.28x
33.72x
Profitability
LTM-4Q
31.12.2011
35'613.1
0.56x
3'018.0
6.56x
842.0
10.84x
31.12.2012
34'406.7
0.67x
2'503.4
9.23x
19.6
417.79x
2'503.38
1'180.50
3.43%
0.64%
-0.78%
-3.14%
1.17%
7.9%
2.7%
0.1%
0.68
0.25
57.63%
257.76%
149.68
6.03
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
LTM
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
1.18
557.60
-34.86%
-31.13%
1.177
6
3.667
9'593'572
6'946'740
7'588'244
FY+1
FY+2
FQ+1
FQ+2
12/13 Y
12/14 Y
06/13 Q2
09/13 Q3
(420.0)
60.0
25.35x
10.78x
S&P Issuer Ratings

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
2.57
1.37
257.8%
71.9%
1.17
1.87
2.44
60.53
44.96
18.49
1.0
0.8
0.7
0.80
0.60
0.40
0.6
0.5
0.4
0.3
0.2
0.20
0.1
0.0
2001
0.00
0.9
1.00
08.08.2013
Liaoning Huajin Tongda Chemicals Co Ltd

Holdings By:
All
Holder Name
BEIFANG HUAJIN CHEMI
ZJ CITIC SECURITIES
E FUND MANAGEMENT
CHINA INTERNATIONAL
Firm Name
SWS Research Co Ltd
EVA Dimensions
Guotai Junan
PingAn Securities
Portfolio Name
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Analyst
KAISHENG LIN
WEIGANG WANG
TIMOTHY STANISH
HOU SHIXIA
WANG GANG
HUANG LILI
WANG SHUANG
QI QIUSHI
ZHEJIAN SONG
WU YING
LI LINLIN
LIANG BIN
LI GUOHONG
Source
Co File
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Co File
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Recommendation
outperform
neutral
sell
outperform
buy
hold
buy
add
buy
strong buy
add
add
buy
Amt Held
613'930'000
17'128'708
11'546'688
10'843'546
9'215'107
6'963'405
6'872'492
6'675'088
6'415'266
6'100'000
5'737'285
5'621'034
5'500'089
5'095'669
4'773'374
4'284'900
3'404'481
3'181'480
2'764'156
2'214'005
% Out
51.14
1.43
0.96
0.9
0.77
0.58
0.57
0.56
0.53
0.51
0.48
0.47
0.46
0.42
0.4
0.36
0.28
0.27
0.23
0.18
Weighting
Change
5
3
1
5
5
3
5
4
5
5
4
4
5
M
M
M
N
M
M
M
M
M
U
M
M
N
Latest Chg
11'355'534
(807'290)
7'423'833
(184'627)
6'475'476
2'017'039
6'415'266
5'526'544
1'704'440
4'708'932
(3'370'291)
3'884'900
3'287'501
2'114'889
Target Price
#N/A N/A
8
#N/A N/A
#N/A N/A
9
#N/A N/A
#N/A N/A
11
#N/A N/A
#N/A N/A
#N/A N/A
15
10
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
6 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
19.07.2013
27.06.2013
06.06.2013
27.03.2013
26.03.2013
25.12.2012
11.06.2012
01.03.2012
02.12.2011
18.11.2010
17.11.2010
02.12.2009
20.12.2008
08.08.2013

SAFCO (Saudi Arabian Fertilizer Company) manufactures agricultural supplies.
and other chemical products. The Company's products include urea, synthetic
ammonia, and ammonium acid carbonate.
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (09.12.2012)
52-Week Low (03.09.2012)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
SAFCO AB EQUITY YTD Change
SAFCO AB EQUITY YTD % CHANGE
Price/Volume
12/2012
01/yy
161.50
137.25
401'230.00
147.75
-8.51%
7.65%
43.30%
333.3
49'248.77
40.00
0.0
0.0
3'594.03
46'082.69
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
Price/ Cash Flow
1.20
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
5'235.8
3.69x
4'575.7
4.23x
4'279.8
5.24x
1
1
1
1
1
1
0
0
0
0
0
31.12.2009
31.12.2010
2'740.7
3'789.5
10.17x
10.04x
1'960.1
2'920.6
14.22x
13.02x
1'804.3
3'234.6
16.77x
13.62x
Profitability
LTM-4Q
31.12.2011
5'051.2
8.09x
3'988.5
10.25x
4'109.8
10.71x
31.12.2012
4'980.4
9.48x
3'869.4
12.20x
3'866.2
13.13x
3'869.43
3'521.57
70.71%
41.95%
47.26%
0.53%
72.5%
78.2%
71.0%
77.6%
7.34
6.50
0.40%
0.45%
3.55
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
LTM
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
FY+1
0.77
132.79
12.78%
5.00%
0.768
16
3.438
242'410
207'191
206'979
FY+2

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
1086.61
925.64
-0.82
0.00
0.5%
0.4%
0.53
1.39
102.82
-
1.0
0.8
0.7
0.80
0.60
0.40
0.6
0.5
0.4
0.3
0.2
0.20
FQ+2
0.9
1.00
FQ+1
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
4'925.5
5'268.4
1'379.5
1'597.0
9.46x
8.84x
3'806.9
3'821.9
901.0
12.11x
12.06x
3'816.6
4'004.2
12.87x
12.36x
S&P Issuer Ratings
0.1
0.0
2001
0.00
08.08.2013

Holdings By:
All
Holder Name
SAUDI BASIC INDUSTRI
SHENZHEN JUNYI HENGT
TIBET AUTO REG INVES
YONG ZHU
SD DONGXIN INVEST CO
FIRST-TRUST FUND MAN
CHANGJIANG SERCURITI
TAIKANG LIFE INSURAN
ZHANG KAI
MAANSHAN CHANGTAI IN
JIA XIAOXUE
CHINA SOUTHERN FUND
MORGAN STANLEY HUAXI
GF FUND MANAGEMENT C
PENGHUA FUND MANAGEM
JINCHENG ZHANG
Firm Name
JPMorgan
Qilu Securities Co Ltd
Sinolink Securities Co Ltd
HuaChuang Securities
Portfolio Name
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Analyst
YANG YAN
LI XUAN
LI LINLIN
LIU BO
GAO LI
LI GUOHONG
Source
Co File
Co File
Co File
Co File
Co File
MF-AGG
Co File
Co File
Co File
Co File
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Co File
Recommendation
buy
buy
add
buy
buy
buy
Amt Held
474'218'251
50'000'000
40'000'000
34'447'914
17'284'000
13'183'073
11'218'000
10'274'942
9'664'000
7'838'399
7'814'962
3'255'391
2'536'743
2'293'801
1'792'000
1'300'000
797'596
599'568
528'969
507'252
% Out
32.37
3.41
2.73
2.35
1.18
0.9
0.77
0.7
0.66
0.54
0.53
0.22
0.17
0.16
0.12
0.09
0.05
0.04
0.04
0.03
Weighting
Change
5
5
4
5
5
5
M
M
M
M
M
M
Latest Chg
10'083'239
255'723
2'536'743
803'851
1'773'500
1'300'000
797'596
93'025
(70'101)
-
Target Price
7
#N/A N/A
#N/A N/A
#N/A N/A
8
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
Not Provided
6 month
Not Provided
Inst Type
Corporation
Other
Government
n/a
Other
Investment Advisor
Other
Insurance Company
n/a
Other
n/a
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Date
07.06.2013
28.01.2013
23.11.2012
25.05.2012
22.11.2011
20.07.2010
08.08.2013
Agrium Inc
Agrium Inc. supplies nitrogen, potash and phosphate for agricultural,
azo dye salt.
Price/Volume
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (28.01.2013)
52-Week Low (06.08.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
AGU CN EQUITY YTD Change
AGU CN EQUITY YTD % CHANGE
12/2012
01/yy
116.38
83.46
826'757.00
86.5
-25.67%
3.65%
9.25%
149.4
12'923.94
3'961.00
0.0
4.0
726.00
15'755.35
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
Price/ Cash Flow
1.20
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
10'031.0
0.74x
2'380.0
3.13x
1'322.0
3.54x
1
1
1
1
1
1
0
0
0
0
0
31.12.2009
31.12.2010
9'129.0
10'743.0
1.15x
1.55x
941.0
1'470.0
11.15x
11.34x
366.0
713.0
23.92x
19.92x
Profitability
LTM-4Q
31.12.2011
15'470.0
0.75x
2'706.0
4.30x
1'371.0
6.96x
31.12.2012
16'686.0
1.08x
2'715.0
6.66x
1'494.0
10.53x
2'715.00
2'271.00
13.61%
12.54%
9.17%
21.83%
15.94%
1.01%
26.9%
16.4%
13.5%
9.0%
1.54
0.53
24.79%
57.27%
6.58
2.82
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
LTM
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
FY+1
1.81
1.22
148.90
5.21
-8.61%
-11.80%
1.218
28
4.107
1'298'005
982'452
892'629
FY+2

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
21.05
11.11
1.25
1.47
57.3%
36.4%
1.01
5.10
55.49
129.23
139.01
41.94
1.0
0.8
0.7
0.80
0.60
0.40
0.6
0.5
0.4
0.3
0.2
0.20
FQ+2
24.11.2005
BBB
STABLE
10.12.2004
NR
0.9
1.00
FQ+1
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
16'748.9
17'404.8
3'225.5
3'257.5
0.90x
0.84x
4.94x
4.72x
2'482.1
2'490.9
447.5
499.5
6.35x
6.33x
6.25x
6.24x
1'329.8
1'293.3
209.1
245.8
9.08x
9.17x
9.14x
9.08x
S&P Issuer Ratings
0.1
0.0
2001
0.00
08.08.2013
Agrium Inc
Holdings By:
All
Holder Name
BLACKROCK
SINOCHEM CORP
CHINA HUARONG ASSET
WANG YIHONG
E FUND MANAGEMENT
CHINA SOUTHERN FUND
MORGAN STANLEY
Firm Name
BMO Capital Markets
SWS Research Co Ltd
PingAn Securities
Founder Securities
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Analyst
CAROL JIN
DENG JIAN
YAN ZHUBING
WANG XIXIN
ZHENG CHUNMING
NI XIAOMAN
BIN GUAN
YIN XIAODONG
ZHENG FANGBIAO
YU WALI
LI XIANGFENG
LI LINLIN
LIANG HAO
ZHENGHUA ZHANG
LIANG BIN
TEAM COVERAGE
Source
Co File
Co File
Co File
Co File
Co File
Co File
ULT-AGG
Co File
Co File
MF-AGG
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
ULT-AGG
Recommendation
Sell/Cautious
outperform
buy
buy
hold
hold
accumulate
buy
buy
buy
outperform
add
strong buy
add
add
outperform
Amt Held
492'901'654
238'791'954
142'260'369
115'702'308
62'004'881
32'909'977
32'190'525
29'679'406
28'932'924
13'456'798
11'952'157
10'264'119
10'221'104
10'037'840
7'839'118
5'061'392
3'864'692
2'982'532
2'922'107
2'310'068
% Out
30.99
15.01
8.94
7.27
3.9
2.07
2.02
1.87
1.82
0.85
0.75
0.65
0.64
0.63
0.49
0.32
0.24
0.19
0.18
0.15
Weighting
Change
1
5
5
5
3
3
4
5
5
5
5
4
5
4
4
5
D
M
M
M
M
D
D
M
M
M
M
M
N
N
M
N
Latest Chg
(2'388'072)
6'807'320
(1'514'636)
4'681'710
(314'075)
(3'548'953)
3'789'021
(114'391)
-
Target Price
9
#N/A N/A
#N/A N/A
33
29
67
#N/A N/A
#N/A N/A
#N/A N/A
48
70
#N/A N/A
#N/A N/A
#N/A N/A
71
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.03.2013
Date
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
6 month
6 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Other
Government
Corporation
Government
Government
Government
Government
Investment Advisor
n/a
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
07.08.2013
02.08.2013
24.06.2013
21.04.2013
11.03.2013
14.01.2013
07.01.2013
25.06.2012
27.04.2012
14.02.2012
01.01.2012
20.12.2011
07.09.2011
19.06.2011
08.12.2010
31.08.2010
08.08.2013

CF Industries Holdings, Inc. manufactures and distributes nitrogen and phosphate
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (30.01.2013)
52-Week Low (02.07.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
CF US EQUITY YTD Change
CF US EQUITY YTD % CHANGE
Price/Volume
12/2012
01/yy
233.43
169.33
1'600'375.00
189.88
-18.66%
12.14%
32.06%
57.3
10'876.83
1'605.00
0.0
380.0
2'274.90
12'405.52
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
Price/ Cash Flow
1.20
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
3'921.1
0.45x
1'251.0
1.42x
684.6
3.84x
1
1
1
1
1
1
0
0
0
0
0
31.12.2009
31.12.2010
2'608.4
3'965.0
1.30x
2.82x
780.8
1'301.5
4.34x
8.58x
365.6
349.2
11.05x
17.73x
Profitability
LTM-4Q
31.12.2011
6'097.9
1.83x
3'160.9
3.52x
1'539.2
6.38x
31.12.2012
6'104.0
2.05x
3'332.2
3.75x
1'848.7
7.32x
3'332.20
2'912.40
47.71%
47.31%
18.37%
35.58%
23.79%
0.61%
51.0%
53.0%
45.9%
30.3%
2.95
2.62
15.79%
27.19%
18.01
10.87
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
LTM
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
FY+1
0.84
1.30
57.00
1.67
-7.73%
-6.17%
1.301
21
3.429
1'212'465
1'213'942
1'059'921
FY+2

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
23.04
19.42
0.37
0.99
27.2%
20.3%
0.61
1.51
20.27
33.57
48.76
36.83
1.0
0.8
0.7
0.80
0.60
0.40
0.6
0.5
0.4
0.3
0.2
0.20
FQ+2
0.9
1.00
FQ+1
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
5'562.6
5'321.5
1'170.3
1'361.6
2.12x
2.33x
2'768.1
2'480.7
554.7
667.8
4.48x
5.00x
5.03x
5.11x
1'421.0
1'199.4
244.3
309.0
7.96x
8.76x
9.05x
8.80x
S&P Issuer Ratings
0.1
0.0
2001
0.00
08.08.2013

Holdings By:
All
Holder Name
VANGUARD GROUP INC
PINGAN TRUST CO LTD
E FUND MANAGEMENT
CQ YUXINTONG SINGLE
Firm Name
Morgan Stanley
PingAn Securities
SWS Research Co Ltd
Founder Securities
AJ Securities
Portfolio Name
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
Multiple Portfolios
n/a
Multiple Portfolios
n/a
Multiple Portfolios
Multiple Portfolios
Analyst
CAROL JIN
YANMING ZHANG
WU YING
CHENG LEI
SHAWN ZHOU
SU WENJIE
LU PING
LI XIANGFENG
ZHENG FANGBIAO
LING XUELIANG
YU WALI
SONG HUAISONG
LIANG HAO
WANG SHUANG
ZHENGHUA ZHANG
XIN ZHANG
Source
Co File
Co File
Co File
Co File
EXCH
EXCH
EXCH
MF-AGG
ULT-AGG
EXCH
MF-AGG
MF-AGG
MF-AGG
EXCH
MF-AGG
Co File
MF-AGG
EXCH
MF-AGG
MF-AGG
Recommendation
neutral/cautious
add
buy
buy
outperform
buy
strong buy
outperform
buy
buy
buy
outperform
strong buy
strong buy
add
buy
Amt Held
151'313'890
37'107'966
36'964'692
22'923'840
20'950'558
18'545'635
17'914'701
12'014'825
11'550'641
10'837'976
10'370'576
9'545'260
9'295'324
7'580'799
6'920'274
6'847'513
6'827'169
6'455'316
5'826'031
4'347'662
% Out
16.85
4.13
4.12
2.55
2.33
2.07
2
1.34
1.29
1.21
1.16
1.06
1.04
0.84
0.77
0.76
0.76
0.72
0.65
0.48
Weighting
Change
3
4
5
5
5
5
5
5
5
5
5
5
5
5
4
5
M
M
M
M
M
M
U
M
M
M
M
M
M
N
M
M
Latest Chg
(1'052'493)
5'309'508
(249'367)
1'314'681
(1'826'356)
5'064'637
3'738'207
4'194'988
Target Price
7
#N/A N/A
#N/A N/A
15
#N/A N/A
8
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
18
#N/A N/A
#N/A N/A
21
#N/A N/A
#N/A N/A
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
10.01.2012
10.01.2012
10.01.2012
31.12.2012
31.12.2012
10.01.2012
31.12.2012
31.12.2012
31.12.2012
10.01.2012
31.12.2012
31.12.2012
31.12.2012
10.01.2012
31.12.2012
31.12.2012
Date
12 month
Not Provided
Not Provided
12 month
Not Provided
12 month
Not Provided
Not Provided
Not Provided
Not Provided
6 month
Not Provided
Not Provided
6 month
Not Provided
Not Provided
Inst Type
Corporation
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Other
n/a
Investment Advisor
Government
n/a
Investment Advisor
Investment Advisor
Investment Advisor
n/a
Investment Advisor
n/a
Investment Advisor
Insurance Company
Investment Advisor
Investment Advisor
Date
18.07.2013
08.07.2013
24.06.2013
21.04.2013
19.03.2013
14.01.2013
23.07.2012
25.06.2012
24.04.2012
16.04.2012
14.02.2012
09.01.2012
07.09.2011
07.03.2011
30.06.2010
04.01.2010
08.08.2013

Israel Chemicals Limited, through its subsidiaries, develops, manufactures, and
Valuation Analysis
Latest Fiscal Year:
LTM as of:
52-Week High (28.01.2013)
52-Week Low (07.08.2013)
Daily Volume
Total Debt
Preferred Stock
Minority Interest
Enterprise Value
ICL IT EQUITY YTD Change
ICL IT EQUITY YTD % CHANGE
Price/Volume
12/2012
01/yy
5'175.00
2'757.00
1'498'797.00
2817
-45.53%
2.18%
1.74%
1'272.6
35'850.33
2'044.27
0.0
24.5
356.64
11'646.00
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Net Income
P/E
EBITDA
EBIT
Operating Margin
Pretax Margin
Return on Assets
Return on Capital
Asset Turnover
Margin Analysis
Gross Margin
EBITDA Margin
EBIT Margin
Net Income Margin
Structure
Current Ratio
Quick Ratio
Debt to Assets
Inventory Turnover
Price/ Cash Flow
1.20
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
.0 M
a-12
Market Data
Dividend Yield
Beta
Equity Float
Short Int
1 Yr Total Return
YTD Return
Adjusted BETA
Analyst Recs
Consensus Rating
Fiscal Year Ended

31.12.2008
6'904.0
1.47x
2'611.5
3.87x
2'004.2
4.44x
1
1
1
1
1
1
0
0
0
0
0
31.12.2009
31.12.2010
4'554.3
5'691.5
3.93x
4.02x
1'233.3
1'560.0
14.51x
14.65x
770.4
1'024.7
21.63x
21.18x
Profitability
LTM-4Q
31.12.2011
7'067.8
2.07x
2'203.8
6.65x
1'511.8
8.70x
31.12.2012
6'672.2
2.54x
1'900.8
8.90x
1'300.5
11.67x
1'900.81
1'613.75
24.19%
22.87%
16.40%
35.49%
0.88%
41.3%
27.4%
22.7%
19.5%
1.73
0.75
26.39%
60.56%
4.97
2.93
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
LTM
01/yy
0.0
#DIV/0!
0.0
0.00x
0.0
0.00x
FY+1
8.57
1.09
428.47
-37.56%
-35.36%
1.085
18
3.556
3'685'421
2'953'331
2'389'988
FY+2

Long-Term Rating
Long-Term Outlook
Short-Term Rating
Credit Ratios
Net Debt/EBITDA
Total Debt/EBITDA
Reference
Total Debt/Equity
Total Debt/Capital
Asset Turnover
Inventory Days
32.95
21.37
0.84
1.03
60.6%
37.5%
0.88
2.12
73.39
124.37
61.22
141.18
1.0
0.8
0.7
0.80
0.60
0.40
0.6
0.5
0.4
0.3
0.2
0.20
FQ+2
0.9
1.00
FQ+1
12/13 Y
12/14 Y
09/13 Q3 12/13 Q4
6'615.7
6'624.0
1'576.0
1'479.0
1.78x
1.80x
7.26x
7.75x
1'764.2
1'634.9
393.0
369.0
6.60x
7.12x
1'143.9
1'017.4
242.0
222.0
8.92x
11.56x
11.42x
11.94x
S&P Issuer Ratings
0.1
0.0
2001
0.00
08.08.2013

Holdings By:
All
Holder Name
ISRAEL CORP LTD
ZJ CITIC SECURITIES
E FUND MANAGEMENT
CHINA INTERNATIONAL
Firm Name
Barclays
EVA Dimensions
Guotai Junan
PingAn Securities
Portfolio Name
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
n/a
n/a
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Multiple Portfolios
Analyst
KAISHENG LIN
WEIGANG WANG
TIMOTHY STANISH
HOU SHIXIA
WANG GANG
HUANG LILI
WANG SHUANG
QI QIUSHI
ZHEJIAN SONG
WU YING
LI LINLIN
LIANG BIN
LI GUOHONG
Source
Co File
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Co File
Co File
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
MF-AGG
Recommendation
outperform
neutral
sell
outperform
buy
hold
buy
add
buy
strong buy
add
add
buy
Amt Held
613'930'000
17'128'708
11'546'688
10'843'546
9'215'107
6'963'405
6'872'492
6'675'088
6'415'266
6'100'000
5'737'285
5'621'034
5'500'089
5'095'669
4'773'374
4'284'900
3'404'481
3'181'480
2'764'156
2'214'005
% Out
51.14
1.43
0.96
0.9
0.77
0.58
0.57
0.56
0.53
0.51
0.48
0.47
0.46
0.42
0.4
0.36
0.28
0.27
0.23
0.18
Weighting
Change
5
3
1
5
5
3
5
4
5
5
4
4
5
M
M
M
N
M
M
M
M
M
U
M
M
N
Latest Chg
11'355'534
(807'290)
7'423'833
(184'627)
6'475'476
2'017'039
6'415'266
5'526'544
1'704'440
4'708'932
(3'370'291)
3'884'900
3'287'501
2'114'889
Target Price
#N/A N/A
8
#N/A N/A
#N/A N/A
9
#N/A N/A
#N/A N/A
11
#N/A N/A
#N/A N/A
#N/A N/A
15
10
File Dt
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
31.12.2012
Date
Not Provided
12 month
Not Provided
Not Provided
12 month
Not Provided
Not Provided
6 month
Not Provided
Not Provided
Not Provided
Not Provided
Not Provided
Inst Type
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Government
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Investment Advisor
Date
19.07.2013
27.06.2013
06.06.2013
27.03.2013
26.03.2013
25.12.2012
11.06.2012
01.03.2012
02.12.2011
18.11.2010
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Fundamental Analysis

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Fundamental Analysis

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This material does not constitute investment advice and should not be

viewed as a current or past recommendation or a solicitation of an

Fundamental Analysis &

Valuation Measures I/II

Tot. Rev. LFY

Earnings Per Share

Est. EPS Tr. 12M

Est. EPS 2013

Est. EPS 2014

P/E Ratio LFY

S&P 500 INDEX

FTSE 100 INDEX

SWISS MARKET INDEX

S&P/TSX COMPOSITE INDEX

S&P/ASX 200 INDEX

HANG SENG INDEX

YARA INTERNATIONAL ASA

TERRA NITROGEN COMPANY LP

SOC QUIMICA Y MINERA CHILE-B

SAUDI ARABIAN FERTILIZER CO

POTASH CORP OF SASKATCHEWAN

PHOSAGRO OAO - CLS

JORDAN PHOSPHATE MINES

INTREPID POTASH INC

ISRAEL CHEMICALS LTD

FAUJI FERTILIZER COMPANY LTD

CF INDUSTRIES HOLDINGS INC

ARAB POTASH COMPANY

CHINA BLUECHEMICAL LTD - H

SINOFERT HOLDINGS LTD

LUXI CHEMICAL GROUP CO LT-A

QINGHAI SALT LAKE INDUSTRY-A

HUBEI YIHUA CHEMICAL INDUS-A

LIAONING HUAJIN TONGDA CHE-A

SAUDI ARABIAN FERTILIZER CO

CF INDUSTRIES HOLDINGS INC

ISRAEL CHEMICALS LTD

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

Valuation Measures II/II

Price to Sales Ratio

Price to Cash Flow Ratio

Enterprise Value to EBITDA Ratio

Price to Earnings Ratio

Estimated Dividend Yield

S&P 500 INDEX

FTSE 100 INDEX

SWISS MARKET INDEX

S&P/TSX COMPOSITE INDEX

S&P/ASX 200 INDEX

HANG SENG INDEX

YARA INTERNATIONAL ASA

SOC QUIMICA Y MINERA CHILE-B

SAUDI ARABIAN FERTILIZER CO

POTASH CORP OF SASKATCHEWAN

TERRA NITROGEN COMPANY LP

PHOSAGRO OAO - CLS

JORDAN PHOSPHATE MINES

INTREPID POTASH INC

ISRAEL CHEMICALS LTD

CF INDUSTRIES HOLDINGS INC

ARAB POTASH COMPANY

CHINA BLUECHEMICAL LTD - H

SINOFERT HOLDINGS LTD