so how much would one pay for an ROE of 15% and Return on...

so how much would one pay for an ROE of 15% and Return on capital of 11% given the mass cap raisings in 2007 and additional debt?

The cash flow picture has been trending up like ROE and ROC since 2007:

CASH-FLOW basically DOUBLED from 0'6 to 0'7 and trending UP since! Thats GOOD

Free cash-flow also

i.e Cashflow minus dividends minus CAPITAL SPENDING = FREE CASH-FLOW thats left over

Since '07, theyve been RETAINING alot of cash due to free cash flow being positive

that means they can pay debt off after paying divvys and CAPEX, or increase divvys, or invest it, or do whatever they want with the cash retained

So the debt isnt a problem with strong cash flow and free cash flows trending up!