Summary

Other Scenarios:

Buyer: The Procter & Gamble Company (PG) Last Price: 67.81 Market Cap.: 211.30B
Target: The Boeing Company (BA) Last Price: 99.35 Market Cap.: 77.86B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare   930
*Media   148
*Technology   1,219
Manufacturing 1,192
Retail and Wholesale   283

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 75)
  • Folgers
  • Millstone
  • Iams
  • Eukanuba
Target (Total: 17)
  • Boeing
  • Spectrolab
Buyer
  • Vicks Children's NyQuil (Chlorpheniramine Maleate/Pseudoephedrine HCl/Dextromethorphan HBr)
  • Vicks Pediatric Formula 44M Multi Symptom Cough & Cold (Chlorpheniramine Maleate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  • Vicks 44M Cough, Cold & Flu Relief (Chlorpheniramine Maleate/Dextromethorphan Hydrobromide/Pseudoephedrine Hydrochloride/Acetaminophen)
  • Vicks NyQuil Multi Symptom Cold/Flu Relief (Doxylamine Succinate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Acetaminophen)
Target
  • CDG Software Development and Integration
  • Jeppesen Sanderson, Inc. FliteStar
  • Preston Aircraft Activity Display System
  • Jeppesen Sanderson, Inc. FliteCrew DLS

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 64)
  • Nastech Pharmaceutical Co. Inc. (NSTK)
  • Alexion Pharmaceuticals, Inc. (ALXN)
  • Multi-Color Corp. (LABL)
  • Tredegar Corporation (TG)
Target (Total: 138)
  • Spirit AeroSystems Holdings, Inc. (SPR)
  • Ducommun Incorporated (DCO)
  • EACO Corporation (EACO)
  • SM&A (WINS)
Buyer (Total: 10)
  • Wal-Mart Stores, Inc. (WMT)
  • sanofi-aventis (ADR) (SNY)
  • Sally Beauty Holdings, Inc. (SBH)
  • 99 Cents Only Stores (NDN)
Target (Total: 34)
  • Government - United States
  • United Parcel Service, Inc. (UPS)
  • DIRECTV Group, Inc. (DTV)
  • Ryanair Holdings plc (ADR) (RYAAY)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 138,000 154,000
Revenue Per Employee 560,143.3 443,500.8
Total Revenue 19,272.0 17,028.0
Total Expenses 15,872.0 15,522.0
Other Revenue 0.0 0.0
Cost of Revenue 9,477.0 13,609.0
SG&A Expense 6,395.0 976.0
Research & Development 0.0 989.0
Other Operating Expense 0.0 -2.0
Operating Income 3,400.0 1,506.0
Unusual Income 0.0 0.0
LT Debt to Capital 25.93 58.02
Fwd P/E 19.44 19.52
Fwd P/Rev 2.59 1.19
Book Value 65,354.0 5,857.0
Curr Portion of LTD/Cap Lease 12,039.0 561.0

Individual Company Summary

Focused

Buyer

Focused (): Manufacturing > Consumer Manufacturing > Personal Care and Cleaning Products

Target

Focused (): Manufacturing > Industrial Manufacturing > Aerospace and Defense > Aerospace > Aviation Equipment > Aircraft Manufacturing

Business Description

Buyer

The Procter & Gamble Company (P&G) is focused on providing branded consumer goods products. The Company markets its products in more than 180 countries. During the fiscal year ended June 30, 2007 (fiscal 2007), the Company was organized into three global business units: Beauty and Health, Household Care and Gillette GBU. P&G had seven segments under United States Generally Accepted Accounting Principles: Beauty; Health Care; Fabric Care and Home Care; Snacks, Coffee and Pet Care; Baby Care and Family Care; Blades and Razors, and Duracell and Braun. In September 2006, the Company's Sure brand (an antiperspirant and deodorant brand) was acquired by Innovative Brands, LLC. In January 2007, P&G acquired HDS Cosmetics Lab Inc., which manufactures and markets Doctor's Dermatologic Formula (DDF) skin care.

Target

The Boeing Company is involved in the design, development, manufacturing, sale and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services. The Company operates in five principal segments: Commercial Airplanes, Precision Engagement and Mobility Systems (PE&MS), Network and Space Systems (N&SS), Support Systems and Boeing Capital Corporation (BCC). PE&MS, N&SS and Support Systems comprise the Company?s Integrated Defense Systems (IDS) business. Boeing has also established an Other segment classification, which includes the activities of Connexion by Boeing, a high-speed broadband communications business, and Engineering, Operations and Technology. During the year ended December 31, 2006, the Company exited its Connexion by Boeing business. On September 20, 2006, Boeing acquired Aviall, Inc. (Aviall), an independent provider of new aviation parts and services.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 52.03 19.26
Operating Margin % 20.2 7.6
Quick Ratio 0.4 0.47
Current Ratio 0.78 0.85
Coverage Ratio -0.08 -0.04
Total Assets 138,014.0 53,886.0
Return on Equity % 15.49 61.4
Return on Assets % 7.49 6.67
Cash+ ST Inv. Per Share 1.65 9.82
Total Debt 35,414.0 8,655.0
Total Debt to Equity % 53.05 147.77
Total Debt to Tangible Equity % n/a 856.08
Debt to Asset % 25.66 16.06

Product Summary

Sector Buyer Target
*Healthcare  
Biopharmaceuticals  
Allergies
The Allergies Subsector includes therapeutics that treat exaggerated immune reaction induced by exposure to a foreign substance.
  
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
  
Dermatology
The Dermatology Subsector includes therapeutics that treat disorders affecting the skin.
  
Digestive System
The Digestive System Subsector includes therapeutics that treat disorders affecting the digestive system.
  
Immunology
The Immunology Subsector includes therapeutics that treat disorders affecting the immune system.
  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Musculoskeletal System
The Musculoskeletal System Subsector includes therapeutics that treat disorders of the bones, joints, ligaments, tendons, and soft tissue involved with them.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
  
Obstetrics/Gynecology
The Obstetrics/Gynecology Subsector includes therapeutics that treat female genital disorders, pregnancy, and childbirth.
  
Respiratory System
The Respiratory System Subsector includes therapeutics that treat disorders affecting both the upper and lower respiratory tract, including the nose, throat, larynx, trachea, bronchi, and lungs.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Urology
The Urology Subsector includes therapeutics that treat diseases of the kidney, urinary tract, bladder, and the male reproductive system.
  
Medical Devices  
Medical Supplies
The Medical Supplies Subsector includes basic and consumable products that are widely used in healthcare settings.
  
Orthopedics
The Orthopedics Subsector includes medical devices that diagnose and treat musculoskeletal diseases involving muscles, bones and joints.
  
Nutritional Health  
Dietary/Naturopathic Supplements
The Dietary/Naturopathic Subsector includes nutritional biochemicals and nutrients derived from natural sources that are intended to support health.
  
Scientific Products  
Consumables
The Consumables Subsector includes chemicals, reagents, standards, media, and disposable labware that are normally depleted or worn out by continuous use.
  
*Media  
Entertainment/Programming  
Television, Film and Video
Companies involved in the production, post-production, and distribution of Motion Pictures and Television programming.
  
*Technology  
Software  
Design/Engineering
Software used in professional design and development applications, including the design of integrated circuits, creating/editing multimedia productions, and creating web-based or stand-alone software applications.
  
Industry-Specific
Software that has functionality specific to a vertical industry.
  
Manufacturing
Consumer Manufacturing  
Food, Beverage and Agriculture
Includes agricultural inputs like livestock and crops, as well as processed food and beverage products. Tobacco growers and cigarette manufacturers are also included.
  
Household Products
The Household Products sector includes furniture and other home and institutional decorative items, major and small appliances, kitchenware, and other related products.
  
Personal Care and Cleaning Products
Companies engaged in the manufacturing of personal care products, such as cosmetics, fragrances, skin lotion, shampoo and other toiletries; and household cleaning products, such as window/surface cleaner, and table polish.
  
Industrial Manufacturing  
Aerospace and Defense
Aerospace and Defense is comprised of products and services with applications in aviation, space exploration, combat and national security, small arms, and other defense and security purposes.
  
Electrical Equipment and Power Systems
Electrical Equipment and Power Systems includes manufacturers of heavy-duty, or infrastructure equipment, and machinery that generate, transmit, and distribute electric power. It also contains electric lighting companies, as well as manufacturers of products enabling end-user use and management of electric power.
  
Retail and Wholesale  
Industrial Equipment and Supplies  
Machinery, Equipment and Supplies
Wholesalers and dealers of machinery, equipment, and supplies used in construction, mining, farming, transportation and other industrial sectors. Companies that rent similar types of equipment are also included.
  

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
*Healthcare  
Biopharmaceuticals  
Allergies  
Upper Respiratory  
Antihistamines/Decongestants/Antitussives
Therapeutics that treat allergic reactions by suppressing inflammation, reducing mucous build up, and relieving or preventing coughs.

Buyer Products:

  • Vicks Children's NyQuil (Chlorpheniramine Maleate/Pseudoephedrine HCl/Dextromethorphan HBr)
  • Vicks Pediatric Formula 44M Multi Symptom Cough & Cold (Chlorpheniramine Maleate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  
Antihistamines/Decongestants/Antitussives/Analgesics/Antipyretics
Therapeutics that treat allergic reactions by suppressing inflammation, reducing mucous build up, relieving or preventing coughs, relieving pain, and reducing fever.

Buyer Products:

  • Vicks 44M Cough, Cold & Flu Relief (Chlorpheniramine Maleate/Dextromethorphan Hydrobromide/Pseudoephedrine Hydrochloride/Acetaminophen)
  • Vicks NyQuil Multi Symptom Cold/Flu Relief (Doxylamine Succinate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Acetaminophen)
  
Cardiovascular System  
Heart Disorders  
Arrhythmia  
Potassium Channel Blocking Agents
Therapeutics that treat abnormal rhythm of the heart by preventing the entry of potassium into heart muscle cells.

Buyer Products:

  • Azimilide
  
Dermatology  
Acne  
Vulgaris  
Retinoids/Vitamin A Analogs
Therapeutics that treat acne by helping in cell differentiation as well as prevent cell proliferation.

Buyer Products:

  • Tazorac (Tazarotene)
  
Lesion/Scaling Disorders  
Psoriasis  
Retinoids/Vitamin A Analogs
Therapeutics that treat a chronic autoimmune disease characterized by softening, separating, and causing the shedding of the horny layer of the skin by modulating cell differentiation and proliferation.

Buyer Products:

  • Tazorac (Tazarotene)
  
Digestive System  
Gastrointestinal Tract Disorders  
Gastroduodenal Disorders  
Peptic Ulcers  
Duodenal  
Antisecretory Agents/Nitroimidazoles/Tetracyclines
Therapeutics that treat peptic ulcers by preventing the secretion of acid as well as treating infections by using antibiotics.

Buyer Products:

  • Helidac (Bismuth Subsalicylate/Metronidazole/Tetracycline Hydrochloride)
  
Gastroesophageal Disorders  
Acid Indigestion/Heartburn  
Proton Pump Inhibitors
Therapeutics that treat heartburn by inhibiting the action of the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Prilosec OTC (Omeprazole)
  
Intestinal Disorders  
Constipation  
Chronic  
Bulk-Forming Agents
Therapeutics that treat constipation by stimulating the formation of bodies of feces that are able to be passed through the bowels.

Buyer Products:

  • Metamucil (Psyllium)
  
Irregular Bowel Movements  
Bulk-Forming Agents
Therapeutics that treat constipation by stimulating the formation of bodies of feces that are able to be passed through the bowels.

Buyer Products:

  • Metamucil (Psyllium)
  
Diarrhea  
Antisecretory Agents
Therapeutics that treat diarrhea by bringing fluid movement within the intestine to normal levels.

Buyer Products:

  • Pepto Bismol (Bismuth Subsalicylate)
  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat ulcerative colitis by inhibiting the actions of the two enzymes, cyclooxygenase and lipoxygenase.

Buyer Products:

  • Asacol (Mesalamine)
  
Immunology  
Autoimmune Disorders  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat inflammation of the colon and rectum by blocking the action of cyclooxygenase and lipoxygenase.

Buyer Products:

  • Asacol (Mesalamine)
  
Psoriasis  
Retinoids/Vitamin A Analogs
Therapeutics that treat a chronic autoimmune disease characterized by softening, separating, and causing the shedding of the horny layer of the skin by modulating cell differentiation and proliferation.

Buyer Products:

  • Tazorac (Tazarotene)
  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Narrow Spectrum  
Digestive System  
Heliobacter pylori  
Antisecretory Agents/Nitroimidazoles/Tetracyclines
Therapeutics treat digestive infections caused by Helicobacter pylori bacteria by inhibiting the action of the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Helidac (Bismuth Subsalicylate/Metronidazole/Tetracycline Hydrochloride)
  
Urology  
Urinary Tract Infections (UTI)  
Antibacterial Agents (Antibiotics)  
Nitrofurantoins
Therapeutics that treat bacterial infections of the urinary tract by inactivating/altering bacterial proteins and other macromolecules.

Buyer Products:

  • Macrodantin (Nitrofurantoin)
  • Macrobid (Nitrofurantoin)
  
Musculoskeletal System  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of skeletal system disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Parathyroid Hormone (PTH 1-34) Nasal Spray
  
Skeletal Disorders  
Bone Disorders  
Heterotopic Ossification  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat ossification by inhibiting the loss of bone material by osteoclasts.

Buyer Products:

  • Didronel (Etidronate Disodium)
  
Osteoporosis  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat osteoporosis by preventing loss of bone mass due to osteoclasts.

Buyer Products:

  • Actonel (Risedronate Sodium)/Once Weekly Actonel (Risedronate Sodium)/Actonel With Calcium
  
Paget`s Disease  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat paget's disease by inhibiting the loss of bone material by osteoclasts.

Buyer Products:

  • Didronel (Etidronate Disodium)
  • Actonel (Risedronate Sodium)/Once Weekly Actonel (Risedronate Sodium)/Actonel With Calcium
  
Neurology  
Neurological Disorders  
Spasticity (Spinal Shock)  
Calcium Channel Inhibitors
Therapeutics that treat spasticity by preventing the release of calcium from the sarcoplasmic reticulum which results in reduced involuntary muscle contractions.

Buyer Products:

  • Dantrium/Dantrium I.V. (Dantrolene Sodium)
  
Obstetrics/Gynecology  
Female Genital Disorders  
Sexual Dysfunction  
Androgens
Therapeutics that treat female sexual dysfunction by providing male sex hormone, such as testosterone, that is important for the normal functioning of the female reproductive system.

Buyer Products:

  • Intrinsa (Testosterone Patch)
  
Respiratory System  
Upper Respiratory Tract Disorders  
Coughs/Colds  
Amphetamines
Therapeutics that treat coughs and colds by helping to relieve nasal congestion.

Buyer Products:

  • Vicks Vapor Inhaler (1-Desoxyephedrine)
  
Antihistamines/Antitussives
Therapeutics that block the inflammatory action of histamines and relieve or prevent coughs.

Buyer Products:

  • Vicks NyQuil Cough (Doxylamine Succinate/Dextromethorphan Hydrobromide)
  
Antihistamines/Decongestants/Antitussives
Therapeutics that treat coughs and colds by suppressing inflammation, reducing mucous build up, and relieving or preventing coughs.

Buyer Products:

  • Vicks Children's NyQuil (Chlorpheniramine Maleate/Pseudoephedrine HCl/Dextromethorphan HBr)
  • Vicks Pediatric Formula 44M Multi Symptom Cough & Cold (Chlorpheniramine Maleate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  
Antihistamines/Decongestants/Antitussives/Analgesics/Antipyretics
Therapeutics that treat coughs and colds by suppressing inflammation, reducing mucous build up, relieving or preventing coughs, relieving pain, and reducing fever.

Buyer Products:

  • Vicks 44M Cough, Cold & Flu Relief (Chlorpheniramine Maleate/Dextromethorphan Hydrobromide/Pseudoephedrine Hydrochloride/Acetaminophen)
  • Vicks NyQuil Multi Symptom Cold/Flu Relief (Doxylamine Succinate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Acetaminophen)
  
Antitussives
Therapeutics that relieve or prevent coughs.

Buyer Products:

  • Vicks 44 Cough Relief (Dextromethorphan Hydrobromide)
  
Antitussives/Expectorants
Therapeutics that treat coughs and colds by suppressing coughs and helping ejection of the mucous.

Buyer Products:

  • Vicks 44E/Vicks Pediatric Formula 44E (Dextromethorphan HBr/Guaifenesin)
  
Decongestants
Therapeutics that treat coughs and colds by reducing mucous build up.

Buyer Products:

  • Vicks Inhaler (Levmetamfetamine)
  • Vicks Sinex 12 Hour (Oxymetazoline)
  • Vicks Sinex (Phenylephrine Hydrochloride)
  
Decongestants/Antitussives
Therapeutics that treat coughs and colds by reducing mucous build up and suppressing the cough.

Buyer Products:

  • Vicks 44D Cough & Head Congestion Relief (Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  
Decongestants/Antitussives/Expectorants/Analgesics/Antipyretics
Therapeutics that treat coughs and colds by reducing mucous build up, suppressing the cough, helping in the ejection of mucous and helping relieve fever and pain.

Buyer Products:

  • Vicks DayQuil Multi Symptom Cold/Flu Relief (Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Guaifenesin/Acetaminophen)
  
Decongestants/Expectorants
Therapeutics that treat coughs and colds by reducing mucous build up and help in ejection of mucous.

Buyer Products:

  • Vicks DayQuil Sinus Presure & Pain Relief (Phenylpropanolamine/Guaifenesin)
  
Expectorants/Opioids
Therapeutics that treat coughs and colds by suppressing the cough and helping in the ejection of the mucous.

Buyer Products:

  • Brontex (Guaifenesin/Codeine Phosphate)
  
Surgery  
General  
Complications  
Hyperthermia  
Calcium Channel Inhibitors
Therapeutics that treat hyperthermia by preventing the release of calcium from the sarcoplasmic reticulum which results in inhibits the catabolic processes responsible for increase in temperature.

Buyer Products:

  • Dantrium/Dantrium I.V. (Dantrolene Sodium)
  
Urology  
Urological Disorders  
Bladder  
Urinary Frequency/Urge Incontinence  
Anticholinergic Agents
Therapeutics that treat the inability to control urinary excretory functions by blocking the actions of choline and other cholinergic agents.

Buyer Products:

  • Enablex (Darifenacin)
  
Medical Devices  
Medical Supplies  
Diagnostic  
Temperature  
Thermometers
Medical instruments designed to measure the temperature in patients

Buyer Products:

  • Vicks Thermometer Series
  
Orthopedics  
Treatment  
Pain Management  
General Purpose  
Dry Heat Therapy
Devices that control the of use dry heat to ease pain associated with musculoskeletal injuries.

Buyer Products:

  • ThermaCare Heatwrap Series
  
Nutritional Health  
Dietary/Naturopathic Supplements  
General Health
Products consisting of dietary/naturopathic supplements that are intended to support general health.

Buyer Products:

  • The Procter & Gamble Company
  
Scientific Products  
Consumables  
Bioanalytical Chemistry  
Cell Biology  
Cell Proliferation  
Kits
Cell proliferation consumables that are a collection of reagents, standards, and other consumables assembled for used in various biological analyses.

Buyer Products:

  • CellCube System
  • E-Cube Culture System Kit
  
*Media  
Entertainment/Programming  
Television, Film and Video  
Production  
Television  
Domestic  
Soap Opera
Shows depicting the interconnected lives of many characters often in a sentimental, melodramatic way.

Buyer Products:

  • Procter & Gamble Productions
  
*Technology  
Software  
Design/Engineering  
Software Development  
Development Environments  
General  
Proprietary Programming Languages
Software development tools that use a proprietary software language.

Target Products:

  • CDG Software Development and Integration
  
Industry-Specific  
Aerospace/Defense  
Flight Management/Operations
Software that manages flight operations, including air traffic control, charting, and flight procedure design, and weather forecasting.

Target Products:

  • Jeppesen Sanderson, Inc. FliteStar
  • Preston Aircraft Activity Display System
  
Training/Testing
Software designed to train military soldiers for combat through a simulated battle field.

Target Products:

  • Jeppesen Sanderson, Inc. FliteCrew DLS
  
Transportation  
Air Transport  
Airlines  
Flight Operations
Software that manages information and resources for flight operations for the airline industry, including aircraft maintenance, crew scheduling, and flight scheduling.

Target Products:

  • AeroInfo Systems Inc.
  • Preston Total Airspace and Airport Modeller
  • SBS Ground Operations GroundStar
  • SBS MaestroCrew
  • Boeing Enterprise One
  • Preston Airport Solutions
  • SBS MaestroPair and Optimizer
  • SBS MaestroLines
  
Shipping/Freight
Software specifically developed to facilitate the processes encountered by the shipping/freight industry.

Target Products:

  • Nobeltec Navigation software
  
Manufacturing
Consumer Manufacturing  
Food, Beverage and Agriculture  
Beverages  
Non-Alcoholic Beverages  
Coffee/Tea
Coffee and Tea Manufacturing.

Buyer Products:

  • Folgers
  • Millstone
  
Food  
Pet Food
Food for dogs and cats.

Buyer Products:

  • Iams
  • Eukanuba
  
Sweets/Snacks  
Snack Foods
Manufacturers of Potato Chips, Peanuts, Trail Mix, and Cheese Snacks.

Buyer Products:

  • Pringles
  
Household Products  
Household Appliances and Tools  
Other Household Products  
Brooms, Brushes, and Mops
Brooms, brushes, mops, and other manual cleaning equipment.

Buyer Products:

  • Swiffer
  
Small Electrical Appliances/Accessories  
Consumer Batteries
Relatively small, portable batteries used to power all varieties of consumer electronic devices. These one-time-use or rechargeable batteries store electric energy and can be used to power various devices ranging from CD players to cell phones. The most popular battery types include: lithium (Li), lithium ion (Li-ion), nickel-metal hybrid (NiMH), and nickel-cadmium (NiCAD). Flashlights are included at this level.

Buyer Products:

  • Duracell
  
Kitchen/Bath Appliances
Electrical Kitchen/Bath Appliances, including toasters; juicemakers; and food blenders, as well as electrical toothbrushes, hairdryers, and electric massagers.

Buyer Products:

  • Oral-B
  
Personal Care and Cleaning Products  
Absorbent Products
Absorbent products, including tampons, pads, and diapers.

Buyer Products:

  • Tampax
  • Always
  • Pampers
  
Anti-Perspirant
Anti-Perspirant and/or deodorant.

Buyer Products:

  • Secret
  • Old Spice
  
Cosmetics
Companies engaged in the manufacturing of cosmetics, such as lipstick, powders, and other make-up.

Buyer Products:

  • Olay
  • Max Factor
  • CoverGirl
  
Fragrances
Companies engaged in the manufacturing of fragrances, such as perfume and cologne.

Buyer Products:

  • Hugo Boss
  • Giorgio Beverly Hills
  
Hair Care
Companies engaged in the manufacturing of hair care products, such as shampoo, conditioner, hair dye, hair spray, styling gel, and mousse. Also includes hair accessories, such as pins, clips, and curlers.

Buyer Products:

  • Clairol
  • Herbal Essences
  • Physique
  • Infusium 23
  • Aussie
  • Pantene
  • Head & Shoulders
  
Household Cleaning Products
Chemical-based household cleaning products, such as detergent and surface cleaner. Also includes automotive cleaning products.

Buyer Products:

  • Tide
  • Mr. Clean
  • Downy
  • Febreze
  • Swiffer
  
Oral Care
Oral Care products, including Toothpaste, Mouthwash, and denture adhesive.

Buyer Products:

  • Fixodent
  
Sanitary/Personal Care Paper
Companies engaged in the manufacturing of sanitary/personal care paper such as napkins and tissues.

Buyer Products:

  • Charmin
  • Bounty
  • Puffs
  
Skin Care
Companies engaged in the manufacturing of skin care products, such as suntan lotion, skin lotion, sanitizer, shaving cream, and moisturizer. Also includes manufacturers of non-electrical shaving equipment.

Buyer Products:

  • Doctor's Dermatologic Formula
  • Gillette
  • Olay
  • Noxzema
  
Soap/Body Wash
Soap, Body Wash, and Shower Gel.

Buyer Products:

  • Camay
  • Ivory
  • Safeguard
  
Industrial Manufacturing  
Aerospace and Defense  
Aerospace  
Aviation Equipment  
Aircraft Manufacturing
Aircraft Manufacturing is comprised of passenger and cargo airplanes, business jets, military aircraft, and helicopters.

Target Products:

  • Boeing
  
Space and Missile Equipment  
Space Vehicle Equipment and Components
Equipment and parts used in non-combat and non-communications space applications.

Target Products:

  • Boeing
  
Space Vehicle and Missile Propulsion Equipment
Propulsion equipment used in vehicle launch, and other propulsion applications, including missiles.

Target Products:

  • Boeing
  
Defense  
Advanced Combat and Support Systems
Advanced Combat and Support Systems is comprised of advanced weaponry and combat equipment and systems. Examples include artillery equipment and other heavy weaponry, combat and combat-support vehicles, missile systems, attack submarines, unmanned aerial vehicles, and other combat equipment and systems.

Target Products:

  • Boeing
  
Defense Contractors
Defense Contractors generally have a scale of operations that allows them to lead or provide key support roles to large defense programs and contracts. Defense contractors may have varying levels of in-house manufacturing and technology capabilities, but they are able to offer large-scale development, production and other critical services to government defense, security, and intelligence agencies.

Target Products:

  • Boeing
  
Electrical Equipment and Power Systems  
Commercial/Industrial Electric Products  
Photovoltaic/Solar Cells and Systems
Photovoltaic and solar cell technology convert light energy into electricity without burning fuel, creating no pollution in the power generation process.

Target Products:

  • Spectrolab
  
Retail and Wholesale  
Industrial Equipment and Supplies  
Machinery, Equipment and Supplies  
Transportation Equipment and Supplies (except Motor Vehicle) Distributors
Suppliers of transportation equipment and supplies (except Motor Vehicle) used in the aviation & marine industries.

Target Products:

  • Inventory Locator Service, LLC
  • Aviall Services, Inc.
  

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  GlaxoSmithKline plc (ADR) n/a 150,459.597 13.70 13.62 3.25 3.31 12.06
PepsiCo, Inc. n/a 112,394.142 19.03 20.74 3.10 2.93 11.41
Target
  Honeywell International Inc. n/a 42,239.463 18.67 17.87 1.29 1.24 n/a
Lockheed Martin Corporation n/a 41,889.243 14.82 14.61 1.04 0.99 n/a
General Dynamics Corporation n/a 32,911.026 18.36 16.37 1.29 1.21 47.63
Raytheon Company n/a 27,302.824 11.53 19.36 1.30 1.23 42.73
Northrop Grumman Corporation n/a 27,282.530 17.03 15.59 0.89 0.86 n/a
Textron Inc. n/a 14,112.309 18.33 17.49 1.15 1.12 9.40
Bombardier, Inc. n/a 10,963.959 n/a n/a n/a n/a n/a
Harris Corporation n/a 7,973.884 16.60 17.30 1.88 1.58 n/a
Embraer-Empresa Brasileir de Aero (ADR) n/a 7,733.839 28.90 21.59 1.97 1.56 4.02
Spirit AeroSystems Holdings, Inc. n/a 4,882.211 47.86 16.80 1.36 1.18 4.63
Alliant Techsystems Inc. n/a 3,654.328 18.49 16.97 0.99 0.89 n/a
BE Aerospace, Inc. n/a 3,620.571 31.87 24.13 2.59 2.22 6.69
CAE, Inc. (USA) n/a 3,226.749 25.48 22.03 2.61 2.41 5.21
SAIC, Inc. n/a 2,373.871 6.04 21.35 0.28 0.27 3.55
AerCap Holdings N.V. n/a 2,101.263 18.70 10.08 1.97 1.92 2.62
Orbital Sciences Corp. n/a 1,249.021 30.04 23.61 1.36 1.21 3.41
DynCorp International Inc. n/a 1,179.900 29.57 19.53 0.56 0.51 n/a
Cubic Corporation n/a 1,154.824 30.69 28.31 1.33 1.28 3.58
ViaSat, Inc. n/a 896.999 30.95 22.14 1.74 1.48 3.36
Genesis Lease Limited (ADR) n/a 817.644 22.17 19.14 4.90 n/a 1.38
Loral Space & Communications Ltd. n/a 783.881 n/a n/a 0.89 n/a 1.22
United Industrial Corp. n/a 696.453 14.61 22.20 1.08 1.03 n/a
ARGON ST, Inc. n/a 393.983 22.22 21.44 1.49 1.39 3.22

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Griffon Corporation 14.00% 436.205 13.82 16.98 0.26 n/a 1.32
Dassault Systemes S.A. (ADR) n/a 7,094.425 27.36 26.04 4.25 4.07 4.53
Huntsman Corporation n/a 5,803.213 n/a 19.75 0.58 0.60 3.97
BEA Systems, Inc. n/a 5,194.029 36.05 30.38 4.01 3.36 5.07
Business Objects S.A. (ADR) n/a 4,018.704 48.85 25.92 2.92 2.71 52.44
Progress Software Corporation n/a 1,241.706 37.74 21.69 2.65 2.59 5.02
Macrovision Corporation n/a 1,232.258 38.52 21.03 4.84 4.41 3.50
JDA Software Group, Inc. n/a 617.561 n/a 18.13 1.72 1.71 19.87
Interwoven, Inc. n/a 604.074 187.38 24.87 3.11 2.66 5.74
Art Technology Group, Inc. n/a 362.523 632.38 n/a 3.13 2.83 12.40
Silicon Graphics, Inc. n/a 245.195 1.10 n/a 0.53 n/a 18.58
CECO Environmental Corp. n/a 193.479 42.43 30.07 1.06 0.86 10.11
Industrial Distribution Group Inc. n/a 87.091 16.60 n/a 0.16 n/a 1.12
Insightful Corporation n/a 26.515 n/a n/a 1.06 n/a 3.00
Buyer
  Nastech Pharmaceutical Co. Inc. 77.00% 352.738 n/a -7.39 17.45 16.42 5.56
Alexion Pharmaceuticals, Inc. 37.70% 2,293.244 n/a -20.03 138.78 55.38 30.03
Target
  Spirit AeroSystems Holdings, Inc. 91.00% 4,882.211 47.86 16.80 1.36 1.18 4.63
Ducommun Incorporated 38.80% 301.219 18.00 17.81 0.86 0.84 3.28
EACO Corporation 38.00% 1.875 n/a n/a 2.22 n/a 0.53
SM&A 27.00% 117.335 25.37 17.14 1.38 1.23 3.61
Triumph Group, Inc. 22.00% 1,347.997 26.15 18.03 1.34 1.12 5.65
Hexcel Corporation 21.30% 1,987.579 30.07 30.47 1.74 1.68 6.82
Aerosonic Corporation 11.00% 24.259 550.97 n/a 0.82 n/a 2.18
Orbital Sciences Corp. 10.00% 1,249.021 30.04 23.61 1.36 1.21 3.41
TransDigm Group Incorporated 9.00% 1,850.051 23.36 21.54 3.42 3.13 n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Wal-Mart Stores, Inc. 15.00% 176,235.594 14.25 14.16 0.49 0.47 3.70
sanofi-aventis (ADR) n/a 116,041.327 21.97 11.99 2.87 3.01 n/a
Target
  Government - United States 46.00% n/a n/a n/a n/a n/a n/a
United Parcel Service, Inc. n/a 78,083.301 18.98 17.79 1.61 1.57 6.50
DIRECTV Group, Inc. n/a 26,244.641 17.37 18.28 1.65 1.54 18.89
Ryanair Holdings plc (ADR) n/a 12,326.446 19.81 19.87 3.82 3.48 3.49
Southwest Airlines Co. n/a 10,656.725 22.39 21.83 1.13 1.09 1.66
Air France - KLM (ADR) n/a 10,168.912 7.10 8.29 0.32 0.31 0.91
AMR Corporation n/a 5,956.496 13.85 8.56 0.26 0.26 n/a
China Southern Airlines Limited (ADR) n/a 5,864.898 39.56 n/a 0.88 n/a 4.28
Lan Airlines S.A. (ADR) n/a 5,393.551 19.69 17.40 1.68 1.60 5.50
UAL Corporation n/a 5,307.836 22.21 20.46 0.27 0.26 n/a
XM Satellite Radio Holdings Inc. n/a 4,553.071 n/a -7.47 4.38 3.90 n/a
Delta Air Lines, Inc. n/a 4,247.829 n/a 15.71 0.24 0.23 n/a
GOL Linhas Aereas Inteligentes SA (ADR) n/a 4,110.624 21.95 19.50 1.86 1.42 3.92
China Eastern Airlines Corp. Ltd. (ADR) n/a 4,040.542 n/a n/a 0.77 n/a 119.68
CAE, Inc. (USA) n/a 3,226.749 25.48 22.03 2.61 2.41 5.21
US Airways Group, Inc. n/a 2,753.462 10.47 5.52 0.24 0.23 17.76
Copa Holdings, S.A. n/a 2,033.536 12.79 12.05 2.15 1.98 5.25
Moog Inc. n/a 1,741.315 18.14 n/a 1.17 n/a 6.35
CHC Helicopter Corporation (USA) n/a 1,630.963 52.61 18.44 1.51 1.29 3.62
Alaska Air Group, Inc. n/a 988.052 145.34 8.16 0.29 0.27 1.06
AirTran Holdings, Inc. n/a 944.609 26.40 15.74 0.46 0.42 2.31
Genesis Lease Limited (ADR) n/a 817.644 22.17 19.14 4.90 n/a 1.38
ICO Global Communications (Holdings) Ltd n/a 610.478 n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Macrovision Corporation n/a 1,232.258 38.52 21.03 4.84 4.41 3.50
Buyer
  Berkshire Hathaway Inc. n/a 185,674.793 15.38 n/a 1.66 n/a 2.24
Wal-Mart Stores, Inc. n/a 176,235.594 14.25 14.16 0.49 0.47 3.70
Target
  France Telecom (ADR) n/a 82,050.277 11.68 11.89 1.14 1.15 n/a
United Parcel Service, Inc. n/a 78,083.301 18.98 17.79 1.61 1.57 6.50
United Technologies Corporation n/a 75,514.421 19.73 17.78 1.48 1.42 58.04
Honeywell International Inc. n/a 42,239.463 18.67 17.87 1.29 1.24 n/a
Lockheed Martin Corporation n/a 41,889.243 14.82 14.61 1.04 0.99 n/a
Raytheon Company n/a 27,302.824 11.53 19.36 1.30 1.23 42.73
General Motors Corporation n/a 19,364.082 11.03 9.07 0.10 0.11 n/a
Textron Inc. n/a 14,112.309 18.33 17.49 1.15 1.12 9.40
Ryanair Holdings plc (ADR) n/a 12,326.446 19.81 19.87 3.82 3.48 3.49
Rockwell Collins, Inc. n/a 11,735.250 20.70 20.41 2.76 2.66 15.01
Southwest Airlines Co. n/a 10,656.725 22.39 21.83 1.13 1.09 1.66
Air France - KLM (ADR) n/a 10,168.912 7.10 8.29 0.32 0.31 0.91
British Airways plc (ADR) n/a 9,271.676 15.05 8.59 0.53 0.52 2.21
Goodrich Corporation n/a 8,157.154 19.23 18.01 1.32 1.25 18.62
AMR Corporation n/a 5,956.496 13.85 8.56 0.26 0.26 n/a
China Southern Airlines Limited (ADR) n/a 5,864.898 39.56 n/a 0.88 n/a 4.28
Lan Airlines S.A. (ADR) n/a 5,393.551 19.69 17.40 1.68 1.60 5.50
Spirit AeroSystems Holdings, Inc. n/a 4,882.211 47.86 16.80 1.36 1.18 4.63
XM Satellite Radio Holdings Inc. n/a 4,553.071 n/a -7.47 4.38 3.90 n/a
GOL Linhas Aereas Inteligentes SA (ADR) n/a 4,110.624 21.95 19.50 1.86 1.42 3.92
China Eastern Airlines Corp. Ltd. (ADR) n/a 4,040.542 n/a n/a 0.77 n/a 119.68
CAE, Inc. (USA) n/a 3,226.749 25.48 22.03 2.61 2.41 5.21

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 76,476.0 64,673.0 141,149.0
Other Revenue 0.0 0.0 0.0
Total Revenue 76,476.0 64,673.0 141,149.0
Cost of Revenue 36,686.0 52,217.0 88,903.0
SG&A Expense 24,340.0 3,732.0 28,072.0
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 0.0 3,758.0 3,758.0
Interest Expense 0.0 -182.0 -182.0
Other Operating Expense 0.0 230.0 230.0
Total Expenses 61,026.0 59,755.0 120,781.0
Operating Income 15,450.0 4,918.0 20,368.0
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -1,304.0 -196.0 -1,500.0
Other, Net 564.0 444.0 1,008.0
Income Before Taxes 14,710.0 5,166.0 19,876.0
Income Taxes 4,370.0 1,570.0 5,940.0
Income After Taxes 10,340.0 3,596.0 13,936.0
Net Income - Excl. Xord. Items 10,340.0 3,596.0 13,936.0
Discontinued Operations 0.0 14.0 14.0
Net Income - Incl. Xord. Items 10,340.0 3,610.0 13,950.0
Preferred Dividends -161.0 0.0 -161.0
Income Avail. to Common 10,179.0 3,610.0 13,789.0
Share Items
Basic Avg. Shares Outstanding 2,815.8 763.5 3,579.3
Basic EPS - Excl. Xord. Items 3.62 4.71 3.89
Basic EPS - Incl. Xord. Items 3.62 4.73 3.90
Full Dilution Adjustment 122.0 0.0 122.0
Fully Diluted Shares Outstanding 3,377.3 777.0 4,154.3
F.D. EPS - Excl. Xord. Items 3.01 4.63 3.35
F.D. EPS - Incl. Xord. Items 3.01 4.65 3.36
Dividends Per Common Share 1.28 1.30 2.58
Balance Sheet
Assets
Cash and Equivalents 5,354.0 7,156.0 12,510.0
ST Investments 202.0 475.0 677.0
Accounts Receivable 6,629.0 6,488.0 13,117.0
Inventory 6,819.0 8,480.0 15,299.0
Prepayments and Advances 3,300.0 0.0 3,300.0
Other Current Assets 1,727.0 2,924.0 4,651.0
Current Assets 24,031.0 25,523.0 49,554.0
PPE 34,721.0 19,789.0 54,510.0
Accum D&A -15,181.0 -11,804.0 -26,985.0
PPE, Net 19,540.0 7,985.0 27,525.0
Goodwill & Intangibles 90,178.0 4,846.0 95,024.0
Long Term Investments 0.0 4,104.0 4,104.0
Note Receivable 0.0 7,227.0 7,227.0
Other Assets 0.0 0.0 0.0
Other LT Assets 4,265.0 4,201.0 8,466.0
Total Assets 138,014.0 53,886.0 191,900.0
Liabilities
Accounts Payable 5,710.0 17,174.0 22,884.0
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 9,586.0 0.0 9,586.0
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 12,039.0 561.0 12,600.0
Other (Current) Liabilities 3,382.0 12,392.0 15,774.0
Current Liab. 30,717.0 30,127.0 60,844.0
LT Debt 23,375.0 8,094.0 31,469.0
Total LT Debt 23,375.0 8,094.0 31,469.0
Deferred Taxes 12,015.0 0.0 12,015.0
Other LT Liab. 5,147.0 9,808.0 14,955.0
Total Liabilities 71,254.0 48,029.0 119,283.0
Shareholders Equity
Redeemable Preferred 1,406.0 0.0 1,406.0
Common Stock 3,990.0 5,061.0 9,051.0
Additional Paid in Capital 59,030.0 4,899.0 63,929.0
Retained Earnings 41,797.0 19,810.0 61,607.0
Treasure Stock -38,772.0 -13,131.0 -51,903.0
Other Equity 617.0 -7,800.0 -7,183.0
ESOP Debt Guarantee -1,308.0 -2,982.0 -4,290.0
Total Equity 66,760.0 5,857.0 72,617.0
Total Liab. & Equity 138,014.0 53,886.0 191,900.0
Shares Outstanding 3,131.9 785.2 3,917.1
Cash Flow
Operating Cash Flow
CF Net Income 10,340.0 3,610.0 13,950.0
CF Depreciation 3,130.0 1,407.0 4,537.0
CF Amortization 0.0 137.0 137.0
CF Deferred Taxes 253.0 0.0 253.0
Other Non-Cash Items 279.0 1,425.0 1,704.0
Change in Working Capital -567.0 784.0 217.0
Total Cash From Operating Activities 13,435.0 7,363.0 20,798.0
Investing Cash Flow (not calculated)
Capital Expenditures -2,945.0 -1,801.0 -4,746.0
Other Investing Cash Flows 462.0 -1,951.0 -1,489.0
Total Cash From Investing Activities -2,483.0 -3,752.0 -6,235.0
Financing Cash Flow (not calculated)
Dividends Paid -4,209.0 -1,027.0 -5,236.0
Purchase Or Sale of Stock -4,079.0 -1,473.0 -5,552.0
Purchase and Retirement of Debt -4,190.0 -1,937.0 -6,127.0
Other Financing Cash Flow 0.0 384.0 384.0
Total Cash From Financing Activities -12,478.0 -4,053.0 -16,531.0
Exchange Rate Effects 187.0 31.0 218.0
Net Change in Cash -1,339.0 -411.0 -1,750.0
Cash Taxes Paid 4,116.0 0.0 4,116.0
Cash Interest Paid 1,330.0 657.0 1,987.0