【出版时间及名称】：2010年美国快餐行业前景展望
        【作者】：德意志银行
        【文件格式】：pdf
        【页数】：42
        【目录或简介】：
Table of Contents
Top Pick 2010: Dean Foods ......................................................................................................3
Fundamental Reasons Supporting Our BUY Opinion................................................................3
Dean: Risks Worth Considering ................................................................................................6
Food Industry 2010…Topics Du Jour .......................................................................................7
Table of Figures
Figure 1: Katzman’s Kitchen: Top Pick Performance.................................................................3
Figure 2: EBIT Stability Vs. Milk Volatility ..................................................................................4
Figure 3: Food – Selected Restructuring Programs ..................................................................5
Figure 4: Packaged Food - Inflation vs. Pricing / Mix.................................................................7
Figure 5: General Mills Cumulative EBIT Analysis (F2006-F2010E)...........................................8
Figure 6: Packaged Food – Selected M&A Transactions ..........................................................9
Figure 7: Campbell Soup Fact Sheet.......................................................................................10
Figure 8: ConAgra Fact Sheet .................................................................................................11
Figure 9: Dean Foods Fact Sheet............................................................................................12
Figure 10: Del Monte Fact Sheet ............................................................................................13
Figure 11: Flowers Fact Sheet ................................................................................................14
Figure 12: General Mills Fact Sheet ........................................................................................15
Figure 13: H. J. Heinz Fact Sheet............................................................................................16
Figure 14: J.M. Smucker Fact Sheet.......................................................................................17
Figure 15: Kellogg Fact Sheet .................................................................................................18
Figure 16: McCormick Fact Sheet...........................................................................................19
Figure 17: Pepsico Fact Sheet ................................................................................................20
Figure 18: Sara Lee Fact Sheet ...............................................................................................21
Figure 19: Deutsche Bank Securities Inc. Food Equity Research – 01/04/10..........................22
Figure 20: Deutsche Bank Securities Inc. Food Equity Research – 01/04/10..........................23
Figure 21: Deutsche Bank Securities Inc. Food Equity Research – 01/04/10..........................24
Figure 22: Deutsche Bank Securities Inc. Food Equity Research – 01/04/10..........................25
Figure 23: Deutsche Bank Securities Inc. Food Equity Research – 01/04/10..........................26
Figure 24: Deutsche Bank Securities Inc. Food Equity Research – 01/04/10..........................27
Figure 25: Calendar Relative P/E 2010 ....................................................................................28
Figure 26: 2010E P/E Vs Long Term Growth Rate ..................................................................28
Figure 27: Enterprise Value / 2010E Revenue.........................................................................29
Figure 28: Enterprise Value / 2010E EBITDA...........................................................................29
Figure 29: Enterprise Value / 2010E EBIT................................................................................30
Figure 30: 2010E P/E Divided By Total Potential Return .........................................................30
Figure 31: Return On Invested Capital 2010E .........................................................................31
Figure 32: EVA Spread 2010E .................................................................................................31
Figure 33: Dividend Yield ........................................................................................................32
Figure 34: Tax Rate .................................................................................................................33
Figure 35: EBIT Margin ...........................................................................................................33
Figure 36: COGS % Sales .......................................................................................................34
Figure 37: Total Debt/Capital...................................................................................................34
Figure 38: D&A/Sales..............................................................................................................35
Figure 39: Days Receivables...................................................................................................35
Figure 40: Days Inventory .......................................................................................................36
Figure 41: EBIT Coverage .......................................................................................................36
Figure 42: EBITDA Coverage ..................................................................................................37
Figure 43: Return on Assets ...................................................................................................37
Figure 44: Advertising % Sales ...............................................................................................38