10 Year Financial Data of Time Warner Inc (TWX)

59.96 (1y: +74%)

Market Cap	56.37 B	P/E(ttm)	18.20
Enterprise Value	73.32 B	P/B	1.90

TWX- NYSE (USA)
Time Warner Inc

Currently 1/5

Business Predictability Rank: 1-Star
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
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$59.96

1 Severe Warning Sign 4 Medium Warning Signs

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Annual Rates (per share)	10 yrs*	5 yrs*	12 months*
Revenue Growth (%)	-0.4	-3.4	4.5
EBITDA Growth (%)	0	0	49.6
Free Cash Flow Growth (%)	4.1	-13.4	46.8
Book Value Growth (%)	-4.2	-4.2	4.3

*12-month growth rate is calculated with the per share revenue (EBITDA, FCF, earnings) of the last 12 months over the per share revenue (EBITDA, FCF, earnings) over the previous 12 months. 5-year and 10-year growth rates are calculated with least-square regression based on the 5-year and 10-year numbers.

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See this page for the explanation of the data and charts * All numbers are in millions except for per share data

Per Share Data	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Revenue per Share ($)	25.67	26.90	27.80	31.40	37.06	39.34	21.58	23.48	27.22	29.43	29.65	7.05	6.92	7.03	8.44	7.26
EBITDA per Share	7.19	7.86	7.20	10.16	15.50	-4.59	10.18	11.38	6.32	6.98	7.21	1.48	1.32	1.85	2.34	1.70
Free Cashflow per Share	2.41	2.30	1.09	3.16	3.23	4.99	3.47	2.32	2.50	2.87	3.26	0.29	0.19	1.43	0.97	0.67
Earnings per Share ($)	1.71	2.16	1.86	4.65	3.51	-11.22	2.07	2.25	2.71	3.09	3.26	0.59	0.44	0.86	1.21	0.75
Dividends Per Share	--	--	0.20	0.63	0.71	0.75	0.75	0.85	0.94	1.04	1.07	0.26	0.26	0.26	0.26	0.29
Book Value per Share	36.36	38.83	39.95	42.88	46.68	35.41	27.93	28.76	28.14	30.60	31.36	30.08	30.22	30.82	30.90	31.36
Month End Stock Price	37.14	40.15	36.00	44.96	34.08	20.77	29.14	32.17	36.14	47.83	57.62	37.75	38.50	45.34	47.83	57.62
Ratios	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Return on Equity %	4.70	5.50	4.60	10.80	7.50	-31.70	7.40	7.80	9.60	10.10	9.60	8.00	6.00	11.20	15.60	9.60
Return on Assets %	2.20	2.70	2.40	5.00	3.30	-11.80	3.80	3.90	4.30	4.40	4.40	3.60	2.80	4.80	6.80	4.40
Return on Capital - Joel Greenblatt %	62.70	71.30	43.40	55.10	52.90	-97.00	131	115	116	112	93.20	94.00	70.80	120	153	93.20
Debt to Equity	0.46	0.37	0.32	0.58	0.63	0.94	0.46	0.50	0.65	0.67	0.65	0.66	0.68	0.66	0.67	0.65

Gross Margin %	41.10	41.90	42.60	43.10	41.00	41.90	44.00	44.10	43.70	44.50	46.00	43.00	42.70	46.60	45.70	46.00
Operating Margin %	13.60	14.60	10.40	16.60	19.30	-34.00	17.60	20.20	20.00	20.60	20.30	17.90	15.80	23.10	24.80	20.30
Net Margin %	6.70	8.00	6.70	14.80	9.40	-28.50	9.60	9.60	10.00	10.50	10.40	8.40	6.40	12.20	14.30	10.40

Days Sales Outstanding	45.30	47.80	53.60	50.80	57.30	48.10	72.30	87.10	87.20	93.80	93.00	82.30	86.50	82.40	82.30	93.00
Days Inventory	21.80	25.90	26.30	27.70	28.00	26.60	45.00	46.60	42.30	47.20	48.20	43.70	47.10	52.00	42.30	48.20
Inventory Turnover	16.80	14.10	13.90	13.20	13.00	13.70	8.10	7.80	8.60	7.70	1.90	2.10	1.90	1.70	2.20	1.90

Debt to Revenue	0.65	0.53	0.47	0.79	0.80	0.85	0.60	0.62	0.67	0.69	2.80	2.80	2.95	2.91	2.43	2.80
COGS to Revenue	0.59	0.58	0.57	0.57	0.59	0.58	0.56	0.56	0.56	0.55	0.54	0.57	0.57	0.53	0.54	0.54
Inventory to Revenue	0.04	0.04	0.04	0.04	0.05	0.04	0.07	0.07	0.07	0.07	0.29	0.27	0.30	0.31	0.25	0.29
Interest Exp. to Revenue %	-4.66	-3.64	-2.90	-3.79	-4.95	-4.79	-4.48	-4.38	-4.18	-4.36	-4.18	-4.59	-4.57	-4.65	-2.84	-4.18

Asset Turnover	0.33	0.34	0.36	0.34	0.35	0.41	0.39	0.40	0.43	0.42	0.10	0.11	0.10	0.10	0.12	0.10
Buyback Ratio	-14.10	-10.50	-10.60	-10.70	-11.90	--	--	--	--	--	--	--	--	--	--	--
Dividend Payout Ratio	--	--	0.11	0.14	0.20	--	0.36	0.38	0.35	0.34	0.38	0.44	0.59	0.30	0.22	0.38
Income Statement	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Revenue	39,565	42,089	43,652	44,224	46,482	46,984	25,785	26,888	28,974	28,729	28,689	6,979	6,744	6,842	8,164	6,939
Cost of Goods Sold	23,285	24,449	25,075	25,175	27,426	27,289	14,438	15,023	16,311	15,934	15,708	3,976	3,865	3,657	4,436	3,750
Gross Profit	16,280	17,640	18,577	19,049	19,056	19,695	11,347	11,865	12,663	12,795	12,981	3,003	2,879	3,185	3,728	3,189

Selling, General, &Admin. Expense	9,862	10,300	10,478	10,560	9,653	10,163	6,153	6,126	6,439	6,333	6,378	1,575	1,606	1,511	1,641	1,620
Earnings Before DDA	11,089	12,297	11,309	14,315	19,437	-5,476	12,166	13,029	6,727	6,810	6,975	1,462	1,284	1,803	2,261	1,627

Depreciation, Depletion and Amortization	5,724	6,132	6,790	6,953	10,488	10,481	7,621	7,601	922	892	894	215	221	222	234	217

Operating Income	5,365	6,165	4,519	7,362	8,949	-15,957	4,545	5,428	5,805	5,918	6,081	1,247	1,063	1,581	2,027	1,410
Interest Income/Expense	-1,844	-1,533	-1,266	-1,675	-2,299	-2,250	-1,155	-1,178	-1,210	-1,253	-1,148	-320	-308	-318	-232	-290
Net Income	2,639	3,364	2,905	6,552	4,387	-13,402	2,468	2,578	2,886	3,019	3,156	583	430	838	1,168	720

Earnings per Share ($)	1.71	2.16	1.86	4.65	3.51	-11.22	2.07	2.25	2.71	3.09	3.26	0.59	0.44	0.86	1.21	0.75
Total Shares Outstanding	1,541	1,565	1,570	1,408	1,254	1,194	1,195	1,145	1,065	976	956	990	974	974	967	956
Balance Sheet	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Cash and cash equivalents	3,040	6,139	4,220	1,549	1,516	6,682	4,800	3,663	3,476	2,841	2,493	2,877	2,470	3,188	2,841	2,493
Accounts Receivable	4,908	5,512	6,411	6,151	7,296	6,195	5,111	6,413	6,922	7,385	7,095	6,312	6,411	6,199	7,385	7,095
Inventory	1,390	1,737	1,806	1,913	2,105	1,989	1,779	1,920	1,890	2,060	1,987	1,909	1,999	2,091	2,060	1,987
Other Current Assets	2,930	1,251	1,026	1,238	1,534	1,736	1,317	1,142	1,144	1,002	1,049	1,193	1,210	1,216	1,002	1,049
Total Current Assets	12,268	14,639	13,463	10,851	12,451	16,602	13,007	13,138	13,432	13,288	12,624	12,291	12,090	12,694	13,288	12,624

Property, Plant and Equipment	12,559	13,094	13,676	16,775	18,048	18,433	3,963	3,874	3,963	3,942	3,769	3,937	3,911	3,906	3,942	3,769
Intangible Assets	83,344	83,215	83,751	92,806	94,136	70,409	40,699	40,313	40,066	40,196	40,084	39,972	39,833	40,007	40,196	40,084
Other Long Term Assets	13,612	12,391	11,585	11,237	9,195	8,452	8,061	9,199	10,340	10,878	10,470	10,544	10,121	10,878	10,878	10,470
Total Assets	121,783	123,339	122,475	131,669	133,830	113,896	65,730	66,524	67,801	68,304	66,947	66,744	65,955	67,485	68,304	66,947

Accounts Payable	1,629	7,807	1,380	7,923	7,081	5,128	7,897	7,733	7,815	8,069	6,922	7,031	6,519	7,075	8,069	6,922
Current Portion of Long-Term Debt	2,287	1,672	92.00	64.00	126	2,067	59.00	26.00	23.00	749	316	1,095	457	754	749	316
Other Current Liabilities	11,602	5,145	11,116	4,793	4,986	6,781	809	884	1,084	1,011	932	1,023	996	1,050	1,011	932
Total Current Liabilities	15,518	14,624	12,588	12,780	12,193	13,976	8,765	8,643	8,922	9,829	8,170	9,149	7,972	8,879	9,829	8,170

Long-Term Debt	23,458	20,703	20,238	34,933	37,004	37,616	15,357	16,523	19,501	19,122	19,125	18,425	19,421	19,122	19,122	19,125
Other Long-Term Liabilities	26,769	27,241	26,934	23,567	26,097	20,016	8,225	8,418	9,421	9,476	9,661	9,390	9,120	9,465	9,476	9,661
Total Liabilities	65,745	62,568	59,760	71,280	75,294	71,608	32,347	33,584	37,844	38,427	36,956	36,964	36,513	37,466	38,427	36,956

Common Stock	46.00	46.00	46.00	48.00	49.00	49.00	16.00	16.00	17.00	17.00	17.00	17.00	17.00	17.00	17.00	17.00
Retained Earnings	-99,295	-95,633	-93,194	-92,466	-88,579	-99,780	-97,148	-94,557	-91,671	-88,652	-87,932	-91,088	-90,658	-89,820	-88,652	-87,932
Additional Paid-In Capital	155,578	156,252	155,927	172,083	172,443	169,531	158,129	157,146	156,114	154,577	154,065	155,578	155,310	154,918	154,577	154,065
Treasury Stock	--	--	--	-19,140	-25,526	-25,836	-27,034	-29,033	-33,651	-35,077	-35,099	-33,934	-34,379	-34,276	-35,077	-35,099
Total Equity	56,038	60,771	62,715	60,389	58,536	42,288	33,383	32,940	29,957	29,877	29,991	29,780	29,442	30,019	29,877	29,991
Cashflow Statement	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Net Income	2,639	3,364	2,905	6,552	4,387	-13,402	2,517	2,571	2,882	3,016	3,155	581	429	838	1,168	720
Depreciation, Depletion and Amortization	5,724	6,132	6,790	6,953	10,488	10,481	7,621	7,601	922	892	894	215	221	222	234	217
Cash Flow from Discontinued Operations	--	--	--	--	--	--	-4,694	-24.00	-16.00	--	--	--	--	--	--	--
Cash Flow from Others	-1,762	-2,878	-4,730	-4,907	-6,400	13,253	-735	-6,858	-356	-466	-294	-380	-315	478	-249	-208
Cash Flow from Operations	6,601	6,618	4,965	8,598	8,475	10,332	4,709	3,290	3,432	3,442	3,755	416	335	1,538	1,153	729

Investment for Property, Plant & Equipement	-2,887	-3,024	-3,246	-4,141	-4,430	-4,377	-561	-631	-772	-643	-595	-133	-150	-143	-217	-85.00
Cash Flow from Acquisitions	-622	--	-680	-12,311	-1,513	--	9,253	--	--	-668	-671	-59.00	-203	-310	-96.00	-62.00
Cash Flow from Investing	77.00	-503	-2,496	-12,472	-4,019	-6,486	7,479	-1,436	-1,086	-1,246	-1,068	-187	-326	-433	-300	-9.00

Net Issuance of Stock	-441	353	-1,834	-12,962	-5,710	-332	-1,158	-2,016	-4,611	-3,272	-3,219	-725	-565	-706	-1,276	-672
Net Issuance of Debt	-4,916	-3,394	-2,107	14,895	2,110	2,515	-6,488	319	2,945	342	-87.00	-5.00	354	-4.00	-3.00	-434
Cash Flow for Dividends	--	--	-466	-876	-871	-901	-897	-971	-997	-1,011	-1,027	-257	-253	-252	-249	-273
Other Financing	-11.00	25.00	19.00	146	-18.00	38.00	-5,255	-256	130	1,110	1,262	159	48.00	575	328	311
Cash Flow from Financing	-5,368	-3,016	-4,388	1,203	-4,489	1,320	-13,798	-2,924	-2,533	-2,831	-3,071	-828	-416	-387	-1,200	-1,068

Net Change in Cash	1,310	3,099	-1,919	-2,671	-33.00	5,166	3,701	-1,070	-187	-635	-384	-599	-407	718	-347	-348

Free Cash Flow	3,714	3,594	1,719	4,457	4,045	5,955	4,148	2,659	2,660	2,799	3,160	283	185	1,395	936	644
Valuation Ratios (Daily)	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

PE Ratio(ttm)
Price-to-Free-Cash-Flow ratio
PS Ratio
EV-to-Revenue
EV-to-EBITDA
EV-to-EBIT
Earnings Yield (Joel Greenblatt)
Forward Rate of Return
Shiller PE Ratio
Valuation and Quality	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Market Cap
Enterprise Value
Month End Stock Price
Net Cash (per share)
Net Current Asset Value (per share)
DCF (per share)
Median PS (per share)
Peter Lynch Fair Value (per share)
Altman Z-Score
Piotroski F-Score
Beneish M-Score

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TWX Quarterly/Annuals Reports

TWX: 10-Q - TIME WARNER INC. (0001105705) (Filer): (10-Q) - 2012-11-07
TWX: 10-Q - TIME WARNER INC. (0001105705) (Filer): (10-Q) - 2012-05-02
TWX: 10-Q - TIME WARNER INC. (0001105705) (Filer): (10-Q) - 2011-08-03
TWX: 10-Q - TIME WARNER INC. (0001105705) (Filer): (10-Q) - 2011-05-04
TWX: 10-K - TIME WARNER INC. (0001105705) (Filer): (10-K) - 2011-02-18

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