Current and historical current ratio for Pfizer (PFE) from 2010 to 2022. Share Price 966.8: Mar 03,2023 . ideal current ratio for pharmaceutical industry Do you want to find out the Price to Sales (PS) ratio history of SUN PHARMACEUTICAL INDUSTRIES and compare it with industry peers of SUN PHARMACEUTICAL INDUSTRIES . As we see, the applicability of multiple financial ratios directly impacts a business valuation. This is one reason why it is also important to consider a pharma company's debt and liquidity situation. The ratio is calculated by dividing the current year's gross profit by the previous year's total R&D expenditures. 3 Liquidity and Debt Coverage Ratios. Though a higher payable turnover ratio indicates the creditworthiness of a company, the company must strive towards favorable credit terms with their suppliers so that they do not have to make hurried and frequent payments, in which they run the risk of penalties. Search Stocks. Key ratios are the main mathematical ratios that illustrate and summarize the current financial condition of a company. Get Standard Medical Pharmaceuticals latest Key Financial Ratios, Financial Statements and Standard Medical Pharmaceuticals detailed profit and loss accounts. Vivimed Labs 2. According to Statista, the entire global pharmaceutical market was estimated to be worth around 1.27 trillion U.S. dollars as of the end of -2020. The use of artificial intelligence (AI) is accelerating the drug discovery and development processes. On the trailing twelve months basis Current Liabilities decreased faster than Industry's Current Assets, this led to improvement in Industry's Working Capital Ratio to 1.77 in the 3 Q 2019, Working Capital Ratio remained below Major Pharmaceutical Preparations Industry average. The accounts receivables ratio indicates the total number of times a company manages to collect its average accounts receivable balance from its customers in a year. Current ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations. Due to varying update cycles, statistics can display more up-to-date Plateau Nirvana Guitar, Where according to the companys balance sheets: To interpret the current ratio of a company, it has to be measured against industry standards. Key financial ratios for pharmaceutical companies are those related to R&D costs and the company's ability to manage high levels of debt and profitability. Do you want to find out the Price to Sales (PS) ratio history of SUN PHARMACEUTICAL INDUSTRIES and compare it with industry peers of SUN PHARMACEUTICAL INDUSTRIES . Current ratio Quick ratio= Current assets/Current liabilities. Despite the exponential growth curve, our AUM to GDP ratio is significantly low at 16% as compared to a global average of 74%. TEVA Current Ratio as of today (June 12, 2022) is 1.07. The Current P/E Ratio of SUN PHARMACEUTICAL INDUSTRIES is 53.67. Do you want to find out the Price to Earnings (PE) ratio history of SUN PHARMACEUTICAL INDUSTRIES and compare it with industry peers of SUN PHARMACEUTICAL INDUSTRIES . Therefore, it is also helpful for investors to look at basic profitability ratios, such as operating margin and net margin. Explore now . Therefore, it is also helpful for investors to look at basic profitability ratios, such as operating margin and net margin.Operating margin, the basic measure of revenues minus production costs, indicates how well the company Leonard N. Stern School of Business. Novo Nordisk's gross margin in that year was 82 . Please check your download folder. The cookie is used to store the user consent for the cookies in the category "Analytics". Covid-19 vaccine Comirnaty, which generated some 37 billion U.S. Also known as the times-interest-earned ratio, this is used by lenders, creditors, and investors to gauge the risk factor involved in lending capital to the company. However, considering a stand-alone ratio can be misleading. if(typeof(wpDataCharts)=='undefined'){wpDataCharts = {};}; wpDataCharts[527] = {render_data: {"options":{"title":{"text":"World Pharmaceutical Sales by Region 2010-2021","floating":false,"align":"center"},"series":[{"type":"","name":"World total","color":"","label":"World total","orig_header":"worldtotal","data":[780000,799000,810000,759000,826000,906000,916000,930000,972000,1059000,1101000,1186000],"yAxis":0},{"type":"","name":"United States","color":"","label":"United States","orig_header":"unitedstates","data":[315000,329000,326000,328000,369000,416000,437000,440000,467000,493000,515000,555000],"yAxis":0},{"type":"","name":"Emerging markets","color":"","label":"Emerging markets","orig_header":"emergingmarkets","data":[152000,151000,168000,160000,168000,183000,185000,198000,199000,207000,255000,285000],"yAxis":0},{"type":"","name":"Europe","color":"","label":"Europe","orig_header":"europe","data":[181000,204000,206000,177000,179000,197000,182000,177000,192000,207000,216000,228000],"yAxis":0},{"type":"","name":"Established ROW","color":"","label":"Established ROW","orig_header":"establishedrow","data":[131000,113000,110000,94000,110000,109000,113000,112000,113000,115000,115000,118000],"yAxis":0}],"xAxis":{"categories":[2010,2011,2012,2013,2014,2015,2016,2017,2018,2019,2020,2021],"title":{"text":"Region"},"crosshair":false},"yAxis":[{"gridLineDashStyle":"solid","title":{"text":"Sales in Million US$"},"crosshair":false},[],[],[],[]],"chart":{"backgroundColor":"","borderWidth":0,"borderColor":"","borderRadius":0,"zoomType":"none","panning":false,"panKey":"shift","plotBackgroundColor":"","plotBackgroundImage":"","plotBorderColor":"","plotBorderWidth":"","inverted":false},"subtitle":{"text":"","align":"center"},"tooltip":{"enabled":true,"backgroundColor":"rgba(255,255,255,0.85)","borderWidth":"1","borderColor":"","borderRadius":3,"shared":false,"valuePrefix":"","valueSuffix":""},"legend":{"enabled":true,"backgroundColor":"","title":{"text":""},"layout":"horizontal","align":"center","verticalAlign":"bottom","borderWidth":"0","borderColor":"","borderRadius":"0"},"exporting":{"enabled":false,"chartOptions":{"plotOptions":{"series":{"dataLabels":{"enabled":false}}}},"filename":"","width":"","buttons":{"contextButton":{"align":"right","verticalAlign":"top","symbolStroke":"#666","text":""}}},"credits":{"enabled":true,"href":"https:\/\/market.us\/","text":"\u00a9 Market.us 2022"}},"type":"highcharts_basic_column_chart","height":"400"}, engine: "highcharts", type: "highcharts_basic_column_chart", title: "World Pharmaceutical Sales by Region 2010-2021", container: "wpDataChart_527", follow_filtering: 0, wpdatatable_id: 620, group_chart: 0}. The U.S. Pharma industry has developed and manufactured some of the most successful and innovative drugs globally. Financial ratios serve as an important tracking tool for identifying trends and discrepancies in the companys finances. The ratio is calculated as total debt divided by total assets. The annual revenue of Bayer AG is US$ 47.09 billion in the year 2021. The curation of data over 10 years makes it a go-to document for in-depth industry trends. Lincoln Pharmaceuticals 5. North America and Europe remain the top global submarkets in pharmaceuticals. The current ratio is an essential financial matric that helps to understand the liquidity structure of the business. if(typeof(wpDataCharts)=='undefined'){wpDataCharts = {};}; wpDataCharts[525] = {render_data: {"options":{"title":{"text":"World Pharmaceutical Market Growth By Region 2021-2025","floating":false,"align":"center"},"series":[{"type":"","name":"Region","color":"","label":"Region","orig_header":"marketgrowthin","data":[12.6,10.9,8.6,6.7,5.7,4.9,4.5,4.5,4.3,4.2,2.8,-0.3],"yAxis":0}],"xAxis":{"categories":["Latin America","Indian subcontinent","Commonwealth of Independent States","Europe non-EU (incl. calibrated vs uncalibrated radiocarbon dates Menu China is the biggest market in this region. A higher ratio automatically indicates the companys strong financial position, attracting more investors. In the kingdom, there are about 15-20 pharmaceutical manufacturers, which include local companies and subsidiaries of multinational pharmaceutical companies. Keywords: DuPont's 3-point, DuPont's 5-point, financial ratios 1. Saudi Arabia holds 60% of the Middle Easts pharmaceutical market. In simple terms, financial ratios are the relationship established between various statistical data provided in the companys financial documents such as the balance sheet, income statement, cash flow statements, etc. 2023 Eqvista Inc. All Rights Reserved. The cookie is used to store the user consent for the cookies in the category "Performance". Mexico came second with a pharma value of 7.4 billion U.S. dollars. Net annual sales = total sale by the company during the accounting period, Average working capital = (Working capital at the start of accounting period at the end of the accounting period) / 2, A high working capital turnover ratio indicates , A lower working capital turnover ratio indicates . Companies with quick ratio less than 1 may not be in a position to pay-off their current liabilities in the immediate future indicating high risk debt. For more information on this data, you can contact us at info@eqvista.com. The scope of growth in the mutual fund investment space is immense in . The company was established in 1886 and headquartered at The U.S. With so much capital at stake, as well as the rapid pace of technological disruption, put more focus on prevention, digital health, and healthcare. In other words, this ratio is a measure of how well a company is generating sales from its inventory. ROI. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Financial ratios are the cornerstone of any company valuation. As we observed in the previous section, the IRS financial ratio database is the most reliable reference point. Tylenol and Band-Aid are some of Johnson & Johnsons most well-known consumer brands. Pharmaceutical companies are characterized by high capital expenditures on research and development (R&D) and a long period between initial research and finally getting a product to market. A higher ratio would show that the officers are compensated well, and vice versa. This will give the average number of days your customer takes to pay their debts. Anuh Pharma 3. Debt-to-equity ratio (D/E) is a financial ratio that indicates the relative amount of a company's equity and debt used to finance its assets. A lower ratio may show that the company is less burdened with debt or incurs more cash expenses in its daily operations. It is used to measure how much additional expenses (Depreciation, Amortization, Interest, Taxes, etc.) . . However the ratio will eventually depend on the terms set by the suppliers based on their relationship with the company and their bargaining power. It is in favor of the company to be in a comfortable cash flow scenario. Miscellaneous Fabricated Products Industry, Industrial Machinery and Components Industry, Renewable Energy Services & Equipment Industry, Miscellaneous Financial Services Industry, Laboratory Analytical Instruments Industry, In Vitro & In Vivo Diagnostic Substances Industry, Print Media & Newspaper Publishing Industry, Computer Peripherals & Office Equipment Industry, Internet Services & Social Media Industry, Electronic Instruments & Controls Industry, Computer processing and cloud services Industry, Scientific & Technical Instruments Industry, Internet, Mail Order & Online Shops Industry, Pharmacy Services & Retail Drugstore Industry, More Major Pharmaceutical Preparations Industrys' historic efficiency information >>, Compare Industry's Sales per Employee to 's or S&P, More Data About Major Pharmaceutical Preparations Industry, Revenue per Employee for CLOV's Competitors, Compare Industry's Income per Employee to 's or S&P, Income per Employee for CLOV's Competitors, Compare Industry's Receivable Turnover to 's or S&P, Receivable Turnover for CLOV's Competitors, Compare Industry's Inventory Turnover to 's or S&P, Inventory Turnover for CLOV's Competitors, Compare Industry's Asset Turnover to 's or S&P. Pfizer operates in two business segments: Pfizer Innovative Health, (IH), and Pfizer Essential Health (EH). The industry is trading at a PE ratio of 26.0x which is lower than its 3-year average PE of 46.5x. For example, a quick ratio of 1.7 indicates that the company has $1.70 liquid assets available for every $1 of their current liabilities. They also produce consumer healthcare products and agricultural chemicals, seeds, as well as biotechnology products. By clicking Accept All, you consent to the use of ALL the cookies. The research, development, and manufacture of medicines and drugs constitute the pharmaceutical industry. Quick Ratio total ranking fell in contrast to the previous quarter from to 12. These cookies ensure basic functionalities and security features of the website, anonymously. Dollars. Cipla has showed highest current ratio in 2012. Do you want to find out the Price to Book ratio history of SUN PHARMACEUTICAL INDUSTRIES and compare it with industry peers of SUN PHARMACEUTICAL INDUSTRIES . , Price/Sales(PS) Ratio of SUN PHARMACEUTICAL INDUSTRIES - 03 Mar,2023 Home > PE Ratio > SUN PHARMACEUTICAL INDUSTRIES . Reveneu (In million US$) Top Global Pharmaceutical Companies Based on Pharma Revenue 2021 Pfizer Roche AbbVie Johnson & Johnson Novartis Merck & Co. Bristol-Myers Squibb GlaxoSmithKline Sanofi Company 0 25k 50k 75k 100k Market.us 2022 World pharmaceutical market growth by region 2021-2025 With the flattening of growth in pharma sales in developed countries, drug makers are increasingly looking to emerging markets for new sources of growth and revenue. Current Industry PE. Dollars in revenue, was the top-performing pharmaceutical product in 2021. Industry title. Investors use this ratio to monitor a companys usage of assets for revenue generation. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Also known as the payables turnover ratio or creditors turnover ratio, this liquidity ratio measures the number of times a company pays its creditors over an accounting period. Pharmaceutical companies are characterized by high capital expenditures on research and development (R&D) and a long period between initial research and finally getting a product to market. Industry Ratios (benchmarking): Current Ratio The pharmaceutical supply chain is complex, but its products are vital. Over 233 treatments are currently under consideration, and 161 vaccines are in development as of June 2020. CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. Reproduction of news articles, photos, videos or any other content in whole or in part in any form Browse . Browse . Scores higher than 1 indicates good health of the companys debt scenario. Staying up-to-date with the latest information. Price/Sales(PS) Ratio of SUN PHARMACEUTICAL INDUSTRIES - 03 Mar,2023 Pharmaceutical companies have been top performers in the healthcare sector in an era of aging populations, rising healthcare costs, and the ongoing development of new and extremely profitable medicines. A score higher than 3 indicates that the company management is failing to use their current assets efficiently, not adopting the right strategies of financing, or failing to manage their working capital. A company's ROE is a valuable indicator of both how effectively the organization is utilizing its equity capital and how profitable the company is for equity investors. That being said, how good a current ratio is depends on the type of company youre talking about. ideal current ratio for pharmaceutical industry For the treatment of diabetes, Eli Lilly introduced the worlds first commercially available insulin named Iletin. The rate at which a company replaces inventory through sales in a given period of time is indicated by the inventory turnover ratio. Artificial Intelligence. Key Financial Ratios for Airline Companies. It is called current as this ratio compares the companys current assets with their current liabilities. Perhaps searching can help. However, there is no reference score or range for FAT ratio. With revenue increase of 4.27% in 4 Q 2022 year on year, revenue per employee for Biotechnology & Pharmaceuticals Industry grew on trailing twelve months basis to 997,180 $, above Biotechnology & Pharmaceuticals Industry average. In general, a current ratio between 1.5 to 2 is considered beneficial for the business, meaning that the company has substantially more financial resources to cover its short-term debt and that it currently operates in stable financial solvency. This measures the companys ability to meet its short-terms obligations using its liquid assets (that can be quickly converted to cash). Understanding Key Financial Ratios and Pharmaceutical Stocks, Price-to-Book (PB) Ratio: Meaning, Formula, and Example, Fixed Asset Turnover Ratio Explained With Examples, Understanding Liquidity Ratios: Types and Their Importance. Strong growth is being experienced in countries such as China, India, and Indonesia due to a growing population who spends more money on health and is more aware of chronic diseases. Explore now . October 12, 2020 These cookies track visitors across websites and collect information to provide customized ads. The pharmaceutical industry creates 1.7 new jobs for every job. The company also acquired Allergan's Anda Inc. Teva acquired Auspex Pharmaceuticals and Barr. Pfizer was however back in the first place due to record-breaking COVID-19 sales. ROA. "Trailing and forward price to earnings ratio (PE ratio) in the health & pharmaceuticals sector in Western Europe 2022, by industry." What Are the Average Research and Development Costs for Pharmaceutical Companies? If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. However as is the case with all financial ratios, a company should compare their ratio with their competitors and industry standards to make sense of best practices suited for their business. Inventory Turnover Ratio by Industry [2022] | Extensiv - Scout Inc. This cookie is set by GDPR Cookie Consent plugin. Current ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations. Company Name, Ticker, Suppliers, else.. Interest Coverage More about current ratio . Swayambhu-Express Your Self Instincts Here. It is safe to expect the same line of growth from these markets for the next few years. Dollars)", container: "wpDataChart_528", follow_filtering: 0, wpdatatable_id: 621, group_chart: 0}. The pharma industry must embrace new technologies, patient design, and innovations. Share Price 966.8: Mar 03,2023 . Home > PS Ratio > SUN PHARMACEUTICAL INDUSTRIES . Shared Computing Projects, short farewell speech by students leaving college, wordpress twenty twenty reduce header height, osmosis resource efficient core equity fund, fema guidelines and specifications for flood hazard mapping partners, following directions activity for kindergarten, osha heavy equipment operator certification, miami valley career technology center address, breed of dog originated in germany codycross, the subdivided lands act would apply to quizlet, magical quest starring mickey mouse cheats, accelerated possession order timescales 2021, jack of all trades sf build 2k22 current gen, dividends on preferred stock may be paid in. Within Healthcare sector 5 other industries have achieved higher asset turnover ratio. The size of the firm positively but moderately governs the solvency of the Indian pharmaceutical firms (Ali, 2020c). ideal current ratio for pharmaceutical industry Saudi Arabia has the largest manufacturing industry in the Gulf. Financial Ratio The main aim is achieved through ratio analysis of two pharmaceutical (Beximco and Square pharmaceutical) companies in Bangladesh. Analysts, investors, creditors, and all other lending institutions rely on these ratios to gauge a companys footing in the business. The importance of ROE in analyzing pharmaceutical companies stems from the basic fact that pharmaceutical companies must expend massive amounts of capital to bring their products to market. Browse . South America made up about 3.5% of the global pharmaceutical market revenue. jeep grand cherokee under $18,000. Its especially helpful for the businesses lenders that assessability of the business to repay their dues. Today, its headquarters are located in Basel. Ratio: Debt-to-equity ratio Measure of center: All companies haven't been maintaining ideal current ratio except Sunpharma. If this is the case, the company has more than enough cash to meet its liabilities while using its capital effectively. It is sorted by regional markets. The expected growth of the global pharmaceuticals market in 2020 is $1228.45 billion, with 2021 reaching $1250.24 billion. Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. Insert your e-mail and we will send you news about business. 2 While the pandemic has created opportunities for the biopharma industry to demonstrate the industrys value, it also has led to potential short- If this is the case, the company has more than enough cash to meet its liabilities while using its capital effectively. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Lincoln Pharmaceuticals 5. Determining the optimal one for your company will depend on factors such as the type of business, its age, and the stage of the business cycle. Interpretation: In this all companies havent maintained the ideal current ratio, while the highest ratio is 3.89 of Lupin in the year 2015 while the 3.45 in the 2014. Tonira Pharma 4. Gland Pharmas new product play for FY22 holds a lot of promise. ideal current ratio for pharmaceutical industry Current ratio is a good tool for investors to measure a companys ability to repay their short-term debt with their current assets. This website uses cookies to improve your experience while you navigate through the website. Pharmaceutical companies are characterized by high capital expenditures, such as the amount that must be spent on R&D to create new drugs. The United States was the largest single pharmaceutical market in 2021, with more than 550 billion U.S. Number of U.S. listed companies included in the calculation: 4190 (year 2021) Ratio: Current Ratio Measure of center: median (recommended) average. Introduction Being the world's third-largest industry by volume and thirteenth largest in terms of value, Indian Pharmaceutical industry is likely to become leader in manufacturing soon. cape dutch restaurant; Uncategorized; ideal current ratio for pharmaceutical industry; pregnant lucy and anna twins before and after guitar hero 3 guitar on rock band 4 0. The United States continues to be the leading market for pharmaceuticals globally, followed by other emerging markets. Our expert team of analysts at Eqvista can support you through this process. A current ratio of less than 1 indicates that a company has greater liabilities than its assets. Teva Pharmaceutical Industries Current Ratio 2010-2022 | TEVA Successfully managing debt obligations is a major factor in the long-term viability and profitability of any pharmaceutical company. You also have the option to opt-out of these cookies. ROI. Pharmaceutical Preparations: industry financial ratios benchmarking Explore now . These emerging markets are the ones that see the most significant increase in pharmaceutical sales. Series: NA | New York City, NY 10170. The current ratio indicates a company's ability to meet short-term debt obligations. . Key Financial Ratios for Pharmaceutical Companies - Investopedia ideal current ratio for pharmaceutical industry. Europe generated around 228 billion U.S. The Pharmaceutical Company has thus been increasing its net profit margin for the last three years, and therefore it is improving its efficiency in cost control. ), Book Value [InclRevalReserve]/Share (Rs. Dollars)","floating":false,"align":"center"},"series":[{"type":"","name":"Sales (In Million USD)","color":"","label":"Sales (In Million USD)","orig_header":"salesinmillionusd","data":[36900,20700,17700,17200,12800,10800,9100,8600,7600,6500],"yAxis":0}],"xAxis":{"categories":["Comirnaty (BioNTech\/Pfizer)","Humira (AbbVie)","Spikevax (Moderna)","Keytruda (Merck & Co.)","Revlimid (BMS)","Eliquis (BMS)","Stelara (Janssen Biotech)","Biktarvy (Gilead)","Opdivo (BMS\/Ono Pharm. Learn more about our online cap table and our 409a valuation services. Company Valuation The fixed asset turnover ratio (FAT) is an indicator of the companys efficiency of using its fixed assets to generate net sales. The interest coverage ratio is an indicator of the companys ability to pay interest on its outstanding debt. A score of 1.5 or lower is a clear red flag indicating the companys unstable financial position. The price-to-research ratio is calculated by dividing a company's market value by its last 12 months of expenditures on research and development. The most important key figures provide you with a compact summary of the topic of "Global pharmaceutical industry" and take you straight to the corresponding statistics. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning. Note, Numbers include only companies who have reported earnings results. Inventories are those goods in stock of a company that it plans to sell. Continued use of this website indicates you have read and understood our, 02 - Agriculture production livestock and animal specialties (6), 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels (41), 15 - Building Construction General Contractors And Operative Builders (48), 16 - Heavy Construction Other Than Building Construction Contractors (20), 17 - Construction Special Trade Contractors (33), 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials (56), 24 - Lumber And Wood Products, Except Furniture (29), 27 - Printing, Publishing, And Allied Industries (67), 28 - Chemicals And Allied Products (1076), 29 - Petroleum Refining And Related Industries (38), 30 - Rubber And Miscellaneous Plastics Products (54), 32 - Stone, Clay, Glass, And Concrete Products (31), 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment (78), 35 - Industrial And Commercial Machinery And Computer Equipment (299), 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment (487), 38 - Measuring, Analyzing, And Controlling Instruments; Photographic, Medical And Optical Goods; Watches And Clocks (460), 39 - Miscellaneous Manufacturing Industries (70), 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation (2), 42 - Motor Freight Transportation And Warehousing (31), 49 - Electric, Gas, And Sanitary Services (310), 51 - Wholesale Trade-non-durable Goods (123), 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers (20), 55 - Automotive Dealers And Gasoline Service Stations (38), 57 - Home Furniture, Furnishings, And Equipment Stores (32), 61 - Non-depository Credit Institutions (125), 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services (255), 64 - Insurance Agents, Brokers, And Service (23), 67 - Holding And Other Investment Offices (849), 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places (69), 75 - Automotive Repair, Services, And Parking (14), 79 - Amusement And Recreation Services (85), 87 - Engineering, Accounting, Research, Management, And Related Services (189).
Brookdale Selling 44 Communities,
Spiritual Awakening Twin Flame Separation,
Accident On Clay Road Today,
Warhammer 40k Imperial Armor Compendium Pdf,
Articles I