Vertical Horizonal Analysis and Financial Ratios
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Vertical Horizonal Analysis and Financial Ratios
Week 1 fill in the numbers-this tab only. Complete blue highlighted areas only. There are no calculations in week one. Table I (Amounts in $thousands, except per share amounts) TRANSDIGM GROUP INCORPORATED Vertical Analysis year 1(%) Vertical Analysis Year 2(%) Horizontal Analysis(Difference) Income Statement 2013 2012 2011 Net Revenue (net sales) 1,924,400 1,700,208 1,206,021 100% 100 224,192 Cost of Goods 874,838 754,491 544,836 45.46 44.38 120,347 Gross Profit 1,049,562 945,717 661,185 54.54 55.62 103,845 Total Operating Expenses 300,107 245,942 193,959 15.59 14.47 54,165 Earnings from Operations 749,455 699,775 467,226 38.94 41.16 49,680 Interest Expense 300,966 211,906 257,710 15.64 12.46 89,060 Net Earnings 448,489 487,869 229,425 23.31 28.69 – 39,380 Balance Sheet Cash/cash equivalents (cash) 564,740 440,524 376,183 9.2 8.07 124,216 Short term investments 51,725 53,721 39,499 0.8 0.98 – 1,996 Net Accounts Receivable 240,449 235,783 189,293 3.9 4.32 4,666 Inventory 413,581 320,503 265,317 6.7 5.87 93,078 Current Assets 1,320,495 1,050,531 870,292 21.5 19.24 269,964 Net Fixed Assets 4,828,384 4,409,086 3,643,344 78.5 80.76 419,298 Total Assets 6,148,879 5,459,617 4,513,636 100 100 689,262 – Current Liabilities 31,045 20,500 206,859 0.5 0.38 10,545 Long Term Liabilities 6,454,215 4,220,283 3,495,828 105.0 77.30 2,233,932 Total liabilities 6,485,260 4,240,783 3,702,687 105.5 77.68 2,244,477 Stockholders Equity – 336,381 1,218,834 810,949 -5.5 22.32 – 1,555,215 Total liabilities + Stockholders Equity 6,148,879 5,459,617 4,513,836 100 100 689,262 Prepared by your name Select numbers taken from financial statements TRANSDIGM GROUP INCORPORATED AND SUBSIDIARIES ANNUAL REPORT ON FORM 10-K FISCAL YEAR ENDED SEPTEMBER 30, 2013 Optional Information Any Preferred Stock Dividends paid Common shareholder 1,991,350 3,299 2,811 Dividents paid to Preferred shareholder – – – Outstanding Shares Common Stock 53,172,551 52,157,225 50,829,276 Basic EPS (Earnings Per Share) $2.39 $ 5.97 $ 3.17 Auditing Firm Ernst & Young Ernst & Young Ernst & Young Financial Ratios
Table II Company Company* Company* Competition or Industry Ratio** AIR INDUSTRIES GROUP INC. Formula 2013 2012 2013 Liquidity Ratios 1. Complete the formula column. See example for gross profit percent. Current Ratio Current Assets/Current Liabilties 42.53 51.25 N/A 2. Use the numbers on the previous page to complete the ratios-Use Excel formulas. Acid Test Ratio (Current Assets-Inventory)/Current Liabilties 29.21 35.61 N/A 3. One * means you did the calculations Two ** means you got the information from another source (cite that source) Asset Management Ratio 4. For column E choose a competitor or the Industry. Inventory Turnover Net Sales/Average Inventories 1.31 1.45 N/A You do not need to calculate the competitor ratios, you can use pre-calculated ratios just remember to cite your source. (like a database) Solvency Ratios Debt ratio Total Debt/Total Assets 105.47% 77.68% 34.87% Times Interest Earned Ratio Operating Income/Interest Expense 2.49 3.30 N/A Profitability Ratios Gross Profit Percent Gross Profit/Net Sales 54.54% 55.62% 7.34% Return on Net Sales Net Earnings/Net Sales 23.31% 28.69% 5.95% EPS** $2.39 $5.97 0.63 Market Analysis Price Earning Ratio** 54.99 54.99 15.03 Dividend Yield** 0 0 0.38 *Calculated by Author ** Information from give souce Prepared by Refernces TransDigm Group Incorporated. Retrieved April 25, 2014 from http://www.google.com/finance/related?q=NYSE%3ATDG&ei=XKVaU_jCMIXJkAXpCA Sheet3
Vertical Horizonal Analysis and Financial Ratios
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