阿迪达斯财务分析模板.pptVIP

必威体育精装版.课件 * In the assets section, Non-current assets decreased or (0.67%) In the equity section, Retained earnings increased 505000000, or 11.34% In the liabilities section, non-current liabilities decreased 600000000, or (30.81%) 因为reserves的基数很小所以即使他的百分数很大，我们也不予考虑 * Net sales decreased 391000000, or (2.63%) Cost of goods sold decreased 428000000, or (5.50%) Total operating expenses(Selling and administrative expenses) decreased or (0.27%) Overall, gross profit and net income were up substantially. Gross profit increased 0.52%, and net income, 31.68%. Adidas’s profit trend appears favorable. ? * In the horizontal analysis of the statement of financial position the ending retained earnings increased 11.34%. As indicated earlier, the company retained a significant portion of net income to finance additional plant facilities. * Current assets increased from 59.02% of total assets in 2012 to 59.12% in 2013 Retained earnings increased from 38.23% of total equity and liabilitiesin 2012 to 42.75% in 2013 Asset大致不变是因为retained earning 升高 total liability 下降 * Cost of sales as a percentage of net sales declined 1.54% Total operating expenses(Selling and administrative expenses) increased 1% As a result, it is not surprising to see net income as a percentage of net sales increase from 3.52% to 5.45%. * Adidas’ current ratio had decreased in the current year. And compared with Nike’s current ratio of 3.47:1 * Adidas’ inventory turnover declined in 2013. The turnover of 2.87times was low compared with Nike’s 4.29imes. * PM means one dollar sell can generate how many net income Asset turnover means one dollar can generate how many sales * 超过50%就会比较危险 * Higher means low risks * According to the financial analysis， the result is same as the real market that Nike is the top one in the sports area. Adidas only rank to the second * Adidas Group 10 必威体育精装版.课件 * Content Introduction Horizontal Vertical analysis Ratio Risk/Strategy analysis summary 必威体育精装版.课件 *