Horizontal Analysis Excel Template

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Let us take the example of a company named ASD Inc. which is a manufacturer of precision components for tier I OEMs.
From its latest annual report, the following income statement is available:

Particulars (in millions) 2018 2017 Absolute

Change % Change
Net Sales $250.40 $220.80 $29.60 13.41%
Cost of Good Sold $131.95 $123.50 $8.45 6.84%
Gross Profit $118.45 $97.30 $21.15 21.74%
SG&A Expenses $65.50 $55.30 $10.20 18.44%
Operating Income $52.95 $42.00 $10.95 26.07%
Interest Expense $13.30 $10.20 $3.10 30.39%
Income Tax Expense $12.60 $11.90 $0.70 5.88%
Net Income $27.05 $19.90 $7.15 35.93%
components for tier I OEMs.
Let us take the annual report of Apple Inc. for the year 2018 to illustrate the preparation of horizontal analysis of the financ
In this case we will be using the income statement and accordingly the following information has been extracted from the a

Particulars (in millions) 2018 2017 2016 % change in

2018
Net Sales $265,595 $229,234 $215,639 15.86%
Cost of Sales $163,756 $141,048 $131,376 16.10%
Research and Development $14,236 $11,581 $10,045 22.93%
SG&A Expense $16,705 $15,261 $14,194 9.46%
Other Income $2,005 $2,745 $1,348 -26.96%
Provision for Income Taxes $13,372 $15,738 $15,685 -15.03%
Gross Profit $101,839 $88,186 $84,263 15.48%
Operating Income $70,898 $61,344 $60,024 15.57%
Net Income $59,531 $48,351 $45,687 23.12%
tion of horizontal analysis of the financial statement.
rmation has been extracted from the annual report:

% change in
2017
6.30%
7.36%
15.29%
7.52%
103.64%
0.34%
4.66%
2.20%
5.83%