Under Armour, Inc. is an American supplier of sportswear and casual apparel. Following are selected financial data for the company for the period 2009-2013. 2009 2010 2011 2012 2013 Profit margin (X) Retention ratio (%) Asset turnover (X) Financial leverage (X) Growth rate in sales (%) 5.4 100.0 6.5 100.e 1.7 6.3 6.9 6.9 100.0 100.e 100.0 1.6 1.7 1.7 1.7 1.8 1.8 2.0 1.9 2.0 18.2 24.3 38.5 24.7 27.2
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How to calculate annual sustainable growth rate for the years 2009 through 2013.
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- Smart Eletro plc, a public listed company, is a major supplier of electrical components to the automotive industry. Company’s key accounting ratios are set out in the following table, together with industry averages: Smart Electro plc. Industry Averages Return on capital employed 21.4% 16.1% Gross profit margin 11.5% 13.0% Net profit margin 9.8% 11.0% Current ratio 1.6 1.4 Inventories turnover 12 6 Trade receivables collection period 61 days 65 days Trade payables payment period 43 days 105 days Gearing 68.4% 37.2% Questions: You are working in this company and the Finance Director asked you to write a report to the Board of Directors. Write a brief report to the board of directors of Smart Eletro plc. comparing the ratios for the company with the industry averages. Identify any areas in which you think they could make improvements. Smart Eletro plc. has operations in…Smart Eletro plc, a public listed company, is a major supplier of electrical components to the automotive industry. Company’s key accounting ratios are set out in the following table, together with industry averages: Smart Electro plc.Industry AveragesReturn on capital employed 21.4%16.1%Gross profit margin 11.5%13.0%Net profit margin 9.8%11.0%Current ratio 1.61.4Inventories turnover 126Trade receivables collection period 61 days65 daysTrade payables payment period 43 days105 daysGearing 68.4%37.2%Questions:b) Smart Eletro plc. has operations in the United Kingdom, Europe and the United States. The company has been looking for some time to expand its operations into the Far East and has now formulated plans for the building of two major new factories in China. Explain in detail the best possible internal and external financing options available to the company to expand its operations taking into account the company’s gearing and profitability position.Staples, Inc. is one of the largest suppliers of office products in the United States. It had a net income of $995.7 million and sales of $19,372.7 million in 2007. Its total assets were $8,397.3 million at the beginning of the year and $9,036.3 million at the end of the year. What is Staples, Inc.'s (a) asset turnover ratio and (b) profit margin ratio?
- Make Analysis into an evaluation of the firm’s liquidity, activity, debt, profitability and market ratios. Historical and Industry Average Ratios HTS Software , Inc. Industry Ratio 2010 2011 2011 Liquidity Ratios Current Ratio 2.6 2.08 2.7 Quick Ratio 1.8 1.32 1.75 Activity Ratios Inventory Turnover 4.5 3.00 4.7 Average Collection Period 40days 53days 42 days Total Asset Turnover 1.2 0.80 1 Debt Ratios Debt Ratio 20% 28% 21% Times Interest Earned 9 6 8.9 Profitability Ratios Gross Profit Margin 43% 43% 44% Operating Profit Margin 30% 26% 32% Net Profit Margin 20% 17% 21% Return on total assets 12% 14% 13% Return on Equity 15% 19% 16% Market Ratios Price/Earnings Ratio 7.3 4.4 8XYZ Co. wants to know if its profitability performance has increased from 2009 to 2010. The company had net income of $48,000 in 2009 and $50,000 in 2010. Total assets were $480,000 at the end of 2009, and $560,000 at the end of 2010. Calculate return on assets(ROA) for 2009 and 2010and Comment on the results.Suppose you manage a company, which presents the following financial indicators: Current Ratio: 2 Average Collection Period: 76.3 days Inventory Turnover: 6.7 Operating Income Return on Investment: 13.2% Debt Ratio: 32% The competition has the following results: Current Ratio: 2 Average Collection Period: 35 days Inventory Turnover: 6.7 Operating Income Return on Investment:10% Debt Ratio: 60% How is the financial situation of your company? Justify your answer.
- You are provided with the Income Statement and the Balance Sheet of HTS software, Inc. for 2011. Required: (b) Analyze the current financial position for the company from a time series and cross section viewpoint. (c) Break your analysis into an evaluation of the firm’s liquidity, activity, debt, profitability and market ratios. Historical and Industry Average Ratios HTS Software , Inc. Ratio 2010 2011 Industry2011 Current Ratio 2.6 — 2.7 Quick Ratio 1.8 — 1.75 Inventory Turnover 4.5 — 4.7 Average Collection Period 40days — 42 days Total Asset Turnover 1.2 — 1 Debt Ratio 20% — 21% Times Interest Earned 9 — 8.9 Gross Profit Margin 43% — 44% Operating Profit Margin 30% — 32% Net Profit Margin 20% — 21% Return on total assets 12% — 13% Return on Equity Price/Earnings Ratio 15% 7.3 — — 16% 8 Balance SheetHTS Software, Inc.December 31,…Prepare a horizontal analysis of the following excerpt of an income statement. Eye Witness Security GmbH Income Statement 2012 2011 Net sales €540.400 €573.000 Cost of goods sold 130.300 165.800 Gross profit (loss) 410.100 407.200 Operating expenses 264.900 205.100 Net income (loss) €145.200 €202.100You are provided with the Income Statement and the Balance Sheet of HTS software, Inc. for 2011. Required: (b) Analyze the current financial position for the company from a time series and cross section viewpoint. (c) Break your analysis into an evaluation of the firm’s liquidity, activity, debt, profitability and market ratios. Historical and Industry Average Ratios HTS Software , Inc. Ratio 2010 2011 Industry2011 Current Ratio 2.6 2.08 2.7 Quick Ratio 1.8 1.32 1.75 Inventory Turnover 4.5 6 4.7 Average Collection Period 40days 9.125 42 days Total Asset Turnover 1.2 1.69 1 Debt Ratio 20% 28.2% 21% Times Interest Earned 9 5.9% 8.9 Gross Profit Margin 43% 42.8% 44% Operating Profit Margin 30% 25.5% 32% Net Profit Margin 20% 17% 21% Return on total assets 12% 4.11% 13% Return on Equity Price/Earnings Ratio 15% 7.3 19% 4.4 16% 8…
- Hardy is a public listed manufacturing company. Its summarised financial statements for the year ended 30 September 2010 (and 2009 comparatives) are: 2010 RM’000 2009 RM’000 Revenue 29,500 36,000 Cost of sales (25,500) (26,000) Gross profit 4,000 10,000 Distribution costs (1,050) (800) Administrative expenses (4,900) (3,900) Investment income 50 200 Finance costs (600) (500) Profit (loss) before taxation (2,500) 5,000 Income tax (expense) relief 400 (1,500) Profit (loss) for the year (2,100) 3,500 Income statements for the year ended 30 September: Statements of financial position as at 30 September: 2010 2009 RM’000 RM’000 RM’000 RM’000 Assets Non-current assets Property, plant and equipment 17,600 24,500 Investments at fair value through profit or loss 2,400 20,000 4,000…Hardy is a public listed manufacturing company. Its summarised financial statements for the year ended 30 September 2010 (and 2009 comparatives) are: 2010 RM’000 2009 RM’000 Revenue 29,500 36,000 Cost of sales (25,500) (26,000) Gross profit 4,000 10,000 Distribution costs (1,050) (800) Administrative expenses (4,900) (3,900) Investment income 50 200 Finance costs (600) (500) Profit (loss) before taxation (2,500) 5,000 Income tax (expense) relief 400 (1,500) Profit (loss) for the year (2,100) 3,500 Income statements for the year ended 30 September: Statements of financial position as at 30 September: 2010 2009 RM’000 RM’000 RM’000 RM’000 Assets Non-current assets Property, plant and equipment 17,600 24,500 Investments at fair value through profit or loss 2,400 20,000 4,000…Hardy is a public listed manufacturing company. Its summarised financial statements for the year ended 30 September 2010 (and 2009 comparatives) are: 2010 RM’000 2009 RM’000 Revenue 29,500 36,000 Cost of sales (25,500) (26,000) Gross profit 4,000 10,000 Distribution costs (1,050) (800) Administrative expenses (4,900) (3,900) Investment income 50 200 Finance costs (600) (500) Profit (loss) before taxation (2,500) 5,000 Income tax (expense) relief 400 (1,500) Profit (loss) for the year (2,100) 3,500 Income statements for the year ended 30 September: Statements of financial position as at 30 September: 2010 2009 RM’000 RM’000 RM’000 RM’000 Assets Non-current assets Property, plant and equipment 17,600 24,500 Investments at fair value through profit or loss 2,400 20,000 4,000…