Liquidity Ratios

Current Ratio
Acid Test (quick) Ratio
Inventory turnover

Profitability Ratios
Profit margin
Asset Turnover
Return on Asset
Return on common stockholders equitie
Earnings per Shares (EPS)
Price-Earnings (P-E) Ratio
Payout ratio

Solvency Ratios
Debt to assets ratio
Time interest earned
Formula
{Current Assets/ Current Liabilities}
{(Net Account Receivable + Cash +Short-term Investment) / (Current Liabilities)}
{Cost of sales/ Average Inventory}

{Net Income / Net Sales}

{Net Sales / Average Total Assets}
Net Income/ Average Total Assets}
{Dividends/ Average Common Stockholders’ Equity
{Dividends/ Weighted Average Common Shares Outstanding}
{Market Price per Share/ Earnings Per Share}
{Cash Dividends declared on common stock/ Net Income}

{Total Liabilities/ Total Assets

{Net Income + Interest Expense + Income tax Expense/ Interest Expense)
 2014/2015 Rate 2016/2017
142109/39672 3.58 182516/ 93771
{(11163+108193+17806)/ 39672} 3.46 {(21374 + 143736 +7065)/ 93771}
{23834/ (12029+17806)/2} 2.99 59483/ (8878+7065/2)

24261/23135 1.05 43675/48055

{76204/(111549+255434)/2} 0.42 {158273/ (364450+506812/2)}
{24261/(111549+255434)/2} 0.13 {71460/ (364450+506812/2)}
2500/24149 0.1 2573/43675
2500/2337 0.1 2573/2493
9.7/10.33 0.94 27.89/ 29.07
24149/23076 1.05 43675/ 71460

109995/255434 0.43 228013/ 506812

{(24261+2750+6416)/ 2750} 12.16 {(71460+2671+13776)/ 2671}
Rate
1.95
1.84
7.46

0.91
0.05
0.33
0.06
1.03
0.96
0.61

0.45
32.91
ALIBABA GROUP HOLDING LTD ADR (BABA) Statement of CASH FLOW
Fiscal year ends in March. CNY in millions except per share data. 2014-03
Cash Flows From Operating Activities
Net income 23403
Depreciation & amortization 1654
Amortization of debt discount/premium and issuance costs
Investment/asset impairment charges 44
Deferred income taxes 1466
Stock based compensation 2844
Prepaid expenses -3567
Accrued liabilities 3992
Income taxes payable 1008
Other working capital -5926
Other non-cash items 1551
Net cash provided by operating activities 26379
Cash Flows From Investing Activities
Investments in property, plant, and equipment -3285
Acquisitions, net -778
Purchases of investments -19440
Sales/Maturities of investments 461
Purchases of intangibles -1491
Other investing charges -8464
Net cash used for investing activities -32997
Cash Flows From Financing Activities
Short-term borrowing 258
Long-term debt issued 83348
Long-term debt repayment -70817
Excess tax benefit from stock based compensation
Common stock issued 2080
Preferred stock issued
Redemption of preferred stock -5131
Repurchases of treasury stock -157
Cash dividends paid -208
Other financing activities -9
Net cash provided by (used for) financing activities 9364
Effect of exchange rate changes -97
Net change in cash 2649
Cash at beginning of period 30396
Cash at end of period 33045
Operating cash flow 26379
Capital expenditure -4776
Free cash flow 21603
2015-03 2016-03 2017-03

24320 71289 41226

4415 6701 14292
166 264 264
175 2319 3155
1659 1226 281
13028 16082 15995
-2253 -4012 -8237

1410 1237 4698

2697 10567 10798
-4400 -48837 -2146
41217 56836 80326

-4770 -5438 -12220

-11526 3395 -33204
-35231 -52988 -44098
1038 12198 9295
-2935 -5407 -5326
-30 5409 7189
-53454 -42831 -78364

1070 1859 1127

156781 765 28381
-131807 -146 -175
1120 1369
61831 693 14607
 -270 -19795 -13182
-104
-4 -342 787
87497 -15846 32914
-112 466
75148 -1375 34876
33045 108193 106818
108193 106818 141694
41217 56836 80326
-7705 -10845 -17546
33512 45991 62780
ALIBABA GROUP HOLDING LTD ADR (BABA) Cash Flow Flag INCOME STATEMENT
Fiscal year ends in March. CNY in millions except per share data. 2014-03
Revenue 52504
Cost of revenue 13369
Gross profit 39135
Sales, General and administrative 8763
Other operating expenses 5452
Total operating expenses 14215
Operating income 24920
Interest Expense 2195
Other income (expense) 4077
Income before income taxes 26802
Provision for income taxes 3196
Minority interest 88
Other income -115
Net income from continuing operations 23403
Other -88
Net income 23315
Preferred dividend 239
Net income available to common shareholders 23076
Earnings per share (Basic) 10.29
Earnings per share (Diluted) 10
Weighted average shares outstanding (Basic) 2266
Weighted average shares outstanding (Diluted) 2332
EBITDA 30651
2015-03 2016-03 2017-03
76204 101143 158273
23834 34355 59483
52370 66788 98790
16313 20512 28553
12922 17174 22182
29235 37686 50735
23135 29102 48055
2750 1946 2671
11941 54312 14645
32326 81468 60029
6416 8449 13776
59 -171 -2449
-1531 -1901 -7476
24320 71289 41226
-59 171 2449
24261 71460 43675
112
24149 71460 43675
10.33 29.07 17.52
9.7 27.89 16.97
2337 2458 2493
2500 2562 2573
39491 90115 76992
ALIBABA GROUP HOLDING LTD ADR (BABA) Cash Flow Flag BALANCE SHEET

Fiscal year ends in March. CNY in millions except per share data. 2013-03 2014-03
Cash and cash equivalents 30396 33045
Short-term investments 2919 12029
Total cash 33315 45074
Receivables 4952 16006
Deferred income taxes 208 191
Prepaid expenses 186 226
Other current assets 4501 6336
Total current assets 43162 67833
Fixtures and equipment 3882 5947
Other properties 2612 3214
Property and equipment, at cost 6494 9161
Accumulated Depreciation -2686 -3580
Property, plant and equipment, net 3808 5581
Equity and other investments 1797 20689
Goodwill 11294 11793
Intangible assets 2229 3566
Deferred income taxes 52 66
Other long-term assets 1444 2021
Total non-current assets 20624 43716
Total assets 63786 111549
Liabilities and stockholders' equity
Current liabilities
Short-term debt 5448 10364
Taxes payable 1112 1972
Accrued liabilities 5318 7021
Deferred revenues 4929 6496
Other current liabilities 7188 11531
Total current liabilities 23995 37384
Non-current liabilities
Long-term debt 22462 30711
Deferred taxes liabilities 643 2136
Accrued liabilities 60 18
Deferred revenues 389 428
Minority interest 537 1079
Other long-term liabilities 15724 10455
Total non-current liabilities 39815 44827
Total liabilities 63810 82211
Stockholders' equity
Common stock 1 1
Additional paid-in capital 21655 27043
Retained earnings -20491 1183
Treasury stock
Accumulated other comprehensive income -1189 1111
Total stockholders' equity -24 29338
Total liabilities and stockholders' equity 63786 111549
2015-03 2016-03 2017-03
108193 106818 143736
17806 8878 7065
125999 115696 150801
11163 11738 21374
256 451 652
815 3891 5751
3876 2294 3938
142109 134070 182516
10259 13772 19311
4646 8038 13156
14905 21810 32467
-5766 -8181 -12261
9139 13629 20206
48488 120853 151820
41933 81645 125420
9680 8246 18799
157 30 386
3928 5977 7665
113325 230380 324296
255434 364450 506812

1990 4304 14897

3368 3733 7674
13412 23562 36249
7914 10297 15052
12988 10143 19899
39672 52039 93771
50603 53467 76835
4493 6471 10154

445 418 641

11974 32552 42330
2808 2516 4282
70323 95424 134242
109995 147463 228013

1 1 1
117142 132206 164585
24842 78752 108558
-2823
3454 6028 8478
145439 216987 278799
255434 364450 506812
 Shares  % Total Shares
Name Held Shares Held Change
VA CollegeAmerica EuroPacific Gr 529F 23189745 0.92 -1099500
Oppenheimer Developing Markets A 11726146 0.46 -1082756
VA CollegeAmerica Grth Fund of Amer 529F 11566100 0.46 -28000
Vanguard International Growth Inv 9584201 0.38 -222212
T. Rowe Price Blue Chip Growth 9454380 0.37 983500
T. Rowe Price Growth Stock 8488974 0.34 -193500
Vanguard PRIMECAP Inv 8316073 0.33 0
iShares Core MSCI Emerging Markets 7698030 0.3 25404
Harbor Capital Appreciation Instl 6534271 0.26 -993083
Harbor International Institutional 6092443 0.24 -419301
VA CollegeAmerica Cap World G/I 529E 5832280 0.23 0
Vanguard Emerging Mkts Stock Idx Inv 4409383 0.17 4409383
Fidelity® Series Emerging Markets 4366906 0.17 185600
Artisan International Investor 3511593 0.14 -203135
Vanguard Total Intl Stock Index Inv 3413638 0.13 3413638
T. Rowe Price Emerging Markets Stock 3160974 0.12 241300
Fidelity® Contrafund® 3045081 0.12 60600
Virtus Emerging Markets Opportunities I 2841470 0.11 -449762
VA CollegeAmerica New World 529F 2652900 0.1 -141200
Loomis Sayles Growth Y 2651723 0.1 0
% Chg from  % Total Date of 
Prior Port Assets Portfolio
-4.53 2.76 43008
-8.45 5.46 43008
-0.24 1.24 43008
-2.27 5.14 43008
11.61 3.85 43008
-2.23 2.98 43008
0 2.46 43008
0.33 3.53 43039
-13.19 4.01 43008
-6.44 3.24 43008
0 1.13 43008
New 0.88 43008
4.44 4.83 43008
-5.47 4.32 43008
New 0.19 43008
8.26 5.29 43008
2.03 0.45 43008
-13.67 5.96 43008
-5.05 1.45 43008
0 6.41 43008