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Historical Highlights
Rating Indexes
Weak
Fair
Good
Excellent
Data
Date Rating #1
#2
RACR
Total
Assets
($mil)
Capital
($mil)
Net
Prem.
($mil)
Net
Income
($mil)
RACR
42.9
288.2
719.5
4,802.2
2.41
4.30
A+
9-12
51.6
278.7
682.1
4,555.2
2.39
4.30
A+
9-11
58.0
371.9
691.5
4,598.7
2.74
4.76
A+
2011
76.3
373.6
637.0
4,432.1
2.25
4.08
A+
2010
61.9
384.9
556.5
4,153.2
2.11
3.83
A+
2009
46.9
392.1
446.8
3,860.8
1.81
3.33
A+
2008
66.3
403.9
501.5
3,893.9
2.09
3.78
A+
2007
CBSCORP
CBS
NYSE:
February18,2013
BUY
HOLD
SELL
BUY
RATINGSINCE
05/06/2011
TARGETPRICE
$56.36
A+ A A-
B+ B B-
C+ C C-
D+ D D-
E+ E E-
F
AnnualDividendRate
$0.48
AnnualDividendYield
1.11%
Beta
2.23
MarketCapitalization
$27.3Billion
52-WeekRange
$28.22-$43.47
Priceasof2/14/2013
$42.94
Sector:
ConsumerGoods&Svcs
Sub-Industry:
Broadcasting
Source:
S&P
CBSBUSINESSDESCRIPTION
CBSCorporation,togetherwithitssubsidiaries,
operatesasamassmediacompanyintheUnited
Statesandinternationally.
STOCKPERFORMANCE(%)
3Mo.
1Yr.
3Yr(Ann)
PriceChange
28.79
44.14
49.27
GROWTH(%)
LastQtr
12Mo.
3YrCAGR
Revenues
-2.28
1.90
3.70
NetIncome
6.21
20.61
90.83
EPS
16.98
26.84
94.01
RETURNONEQUITY(%)
CBS IndAvg S&P500
Q42012
15.50
13.77
13.23
Q42011
13.02
17.23
14.77
Q42010
7.37
14.16
12.84
P/ECOMPARISON
17.82
CBS
19.32
IndAvg
17.59
S&P500
EPSANALYSIS¹($)
WeeklyPrice:(US$)
SMA(50)
SMA(100)
2Years
1Year
2011
2012
2013
15
20
25
30
35
40
45
50
55
60
TARGETPRICE$56.36
R PI$.6
I
.
I
.3
.
RatingHistory
HOLD BUY
0
100
200
VolumeinMillions
COMPUSTATforPriceandVolume,TheStreet.comRatings,Inc.forRatingHistory
RECOMMENDATION
WerateCBSCORP(CBS)aBUY.Thisisbasedontheconvergenceofpositiveinvestmentmeasures,which
shouldhelpthisstockoutperformthemajorityofstocksthatwerate.Thecompany'sstrengthscanbeseen
inmultipleareas,suchasitssolidstockpriceperformance,impressiverecordofearningspersharegrowth,
notablereturnonequity,goodcashflowfromoperationsandlargelysolidfinancialpositionwithreasonable
debtlevelsbymostmeasures.Althoughnocompanyisperfect,currentlywedonotseeanysignificant
weaknesseswhicharelikelytodetractfromthegenerallypositiveoutlook.
HIGHLIGHTS
Investorshaveapparentlybeguntorecognizepositivefactorssimilartothosewehavementionedinthis
report,includingearningsgrowth.Thishashelpeddriveupthecompany'ssharesbyasharp44.14%overthe
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