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versus

Liquidity Ratio
Current ratio:
270,175,000 236,378,481
230,053,000 Current assets 224,615,949
Current liabilities
= 1.052
= 1.174
Acid-test ratio:
164,807,000+12,388,000+¿ 58,716,000+2,566,000 69,769,490+ 20,622,853+ ¿ 27,602,814+23
230,053,000Cash∧cash equivalents+¿ Market securities+¿ Accountsreceivable
224,615,949
Current liabilities

= 1.037 = 0.630
Collection period:
(164,807,000+152,228,000)/2 (69,769,490+65,804,071)/2
343,696,000 /360 Average accountsreceivable 645,826,371/360
Sales/ 360

= 166.037 = 37.786

Days to sell inventory:
(14,876,000+18,371,000)/2 (68,733,271+65,535,342)/2
306,860,000 /360 Average inventory 533,362,225/ 360
Cost of sales/360

= 19.502 = 45.313

Capital Structure and
Solvency
Total debt to equity:
247,952,000 285,444,130
95,889,000 Total liabilities 266,944,425
Shareholders ' equity
= 2.586 = 1.070

Long-term debt to equity:
17,899,000 30,553,126+ 30,275,055
95,889,000 Long−term liabilities 266,944,425
Shareholders' equity
= 0.187 = 0.228

Times interest earned:

020 Return on common equity: 11.000+84.000)/2 (1−tax rate) (552.107 = 0.297 versus Return on Investment Return on assets: 11.174 Operating profit margin: 21.371 ¿ operations ¿ Sales = 0.018 Operating Performance Gross profit margin: 343.000)/2 Net income (266.24) (343.815.000 645.696.443 343.000−306.063 = 0.559.822.016.635.24) Net income+ Interest expense x (1−0.000 17.225 343.815.371−533.902 Interest expense = 1.889.696.300 = 2.425+160.530.595.000 Income 645. 21.443 16.724)/2 Average shareholders' equity = 0.659.944.860.000 Sales−Cost of sales 645.667 ❑ Net income 645.371 Sales = = 0.826.132 = 0.000 Income before income taxes 17.371 Sales = 0.815.000+16.388.559.000+409.667+7.667 (95.530.826.659.902 x (1−0.362.915.076 = 0.595.826.841.374.696.000 3.915.000 x 3.826.027 Net profit margin: ❑ 3.555+ 427.000 ¿ interest expense 7.006 .292) /2 Average total assets = 0.

555+427.693 Accounts receivable turnover: ❑ 645.071)/2 Average accountsreceivable = = 9.039+85.826.573.362.535.490+65.826.225 ❑ Cost of sales (552.527 Inventory turnover: ❑ 533.945 Working capital turnover: ❑ 645.374.826.371 ❑ Sales (307.362.769.925+243.271+65.532+ (−26.804.826. Asset Utilization Cash turnover: ❑ 645.733.371 ❑ Sales (69.342 Total asset turnover: ❑ 533.936)/2 Average cash∧equivalents = =5.759.512.388.956.372)/2 Average PPE = = 2.225 ❑ Cost of sales (68.292)/2 Average total assets = .587 ) )/2 Average working capital = = (84.938.342)/2 Average inventory = = 7.371 ❑ Sales (11.325.371 ❑ Sales (141.993) PPE turnover: ❑ 645.

066 Earnings per share = = Earnings yield: ❑ ❑ ❑ Earnings price per share ❑ Market price per share = = Dividend yield: ❑ ❑ ❑ Cash dividends per share ❑ Market price per share = = Dividend payout rate: ❑ ❑ ❑ Cash dividends per share ❑ Earnings per share = = Price-to-book: ❑ ❑ ❑ Market price per share ❑ Book value per share = = .089 Market Measures Price-to-earnings: ❑ ❑ ❑ Market price per share 0. =1.