ratio analysis, powerpoint show - texas a&m university 比率分析，powerpoint幻灯片-德克萨斯&amp；m大学

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1、CHAPTER8AnalysisofFinancialStatements1TopicsinChapterRatioanalysisDuPontsystemEffectsofimprovingratiosLimitationsofratioanalysisQualitativefactors2IncomeStatement20092010ESales$5,834,400$7,035,600COGS4,980,0005,800,000Otherexpenses720,000612,960Deprec.116

2、,960120,000Tot.op.costs5,816,9606,532,960EBIT17,440502,640Int.expense176,00080,000EBT(158,560)422,640Taxes(40%)(63,424)169,056Netincome($95,136)$253,5843BalanceSheets:Assets20092010ECash$7,282$14,000S-Tinvest.20,00071,632AR632,160878,000Inventories1,287,3

3、601,716,480TotalCA1,946,8022,680,112NetFA939,790836,840Totalassets$2,886,592$3,516,9524BalanceSheets:Liabilities&Equity20092010EAccts.payable$324,000$359,800Notespayable720,000300,000Accruals284,960380,000TotalCL1,328,9601,039,800Long-termdebt1,000,000500

4、,000Commonstock460,0001,680,936Ret.earnings97,632296,216Totalequity557,6321,977,152TotalL&E$2,886,592$3,516,9525OtherData20092010EStockprice$6.00$12.17#ofshares100,000250,000EPS-$0.95$1.01DPS$0.11$0.22Bookval.persh.$5.58$7.91Leasepayments$40,000$40,000Tax

5、rate0.40.46Whyareratiosuseful?Standardizenumbers;facilitatecomparisonsUsedtohighlightweaknessesandstrengths7FiveMajorCategoriesofRatiosLiquidity:Canwemakerequiredpaymentsastheyfalldue?Assetmanagement:Dowehavetherightamountofassetsforthelevelofsales?(More…

6、)8RatioCategories(Continued)Debtmanagement:Dowehavetherightmixofdebtandequity?Profitability:Dosalespricesexceedunitcosts,andaresaleshighenoughasreflectedinPM,ROE,andROA?Marketvalue:DoinvestorslikewhattheyseeasreflectedinP/EandM/Bratios?9ForecastedCurrenta

7、ndQuickRatiosfor2010.CR10===2.58.QR10===0.93.CACL$2,680$1,040$2,680-$1,716$1,040CA-Inv.CL10CommentsonCRandQR2010E20092008Ind.CR2.581.462.32.7QR0.930.50.81.0Expectedtoimprovebutstillbelowtheindustryaverage.Liquiditypositionisweak.11InventoryTurnoverRatiovs

8、.IndustryAverageInv.turnover===4.10.SalesInventories$7,036$1,7162010E20092008Ind.Inv.T.4.14.54.86.112CommentsonInventoryTurnoverInventoryturnoverisbelowindustryaverage.Firmmighthaveoldinventory,oritscontrolmightbepo