Key Financial Items

Cash
Receivables
Inventory
Total Current Assets
Total Assets
Total Current Liabilities
Total Liabilities
Total Stockholder Equity
Sales
Cost of Sales
EBIT
Pretax Income
Net Income (Loss)
Dividend Expense

2007
758
5565
4760
11935
28603
7523
19160
9443
43917
29260
3264
2676
1654
218

2008
716
5776
5343
12928
31392
8314
20327
11065
48163
31790
3519
2960
1841
246

2009
2245
5497
5384
13922
32293
8220
19264
13029
46839
31445
3601
3031
3198
280

2010
1648
6226
5838
14405
34995
9588
20790
14205
52620
34927
4296
3860
2408
334

2011
813
6757
6254
14706
37349
11117
21716
15633
59490
39399
5041
4497
2787
396

Key Financial Items

Cash
Receivables
Inventory
Other Current Assets
Total Current Assets
Total Net Long-term Assets
Total Assets
Total Current Liabilities
Total Long-term Liabilities
Total Liabilities
Total Stockholder Equity
Sales
Cost of Sales
EBIT
Pretax Income
Net Income (Loss)
Dividend Expense
Dividend Payout Ratio
Percentage Of Sales
Cash
Receivables
Inventory
Other Current Assets
Total Current Assets
Total Net Long-term Assets
Total Assets
Total Current Liabilities
Total Long-term Liabilities
Total Liabilities
Total Stockholder Equity
Sales
Cost of Sales
EBIT
Pretax Income
Net Income (Loss)
Dividend Expense

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2007
758.00
5,565.00
4,760.00
852.00
11,935.00
16,668.00
28,603.00
7,523.00
11,637.00
19,160.00
9,443.00
43,917.00
29,260.00
3,264.00
2,676.00
1,654.00
218.00
13.18%

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2008
716.00
5,776.00
5,343.00
1,093.00
12,928.00
18,464.00
31,392.00
8,314.00
12,013.00
20,327.00
11,065.00
48,163.00
31,790.00
3,519.00
2,960.00
1,841.00
246.00
13.36%

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2009
2,245.00
5,497.00
5,384.00
796.00
13,922.00
18,371.00
32,293.00
8,220.00
11,044.00
19,264.00
13,029.00
46,839.00
31,445.00
3,601.00
3,031.00
3,198.00
280.00
8.76%

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2010
1,648.00
6,226.00
5,838.00
693.00
14,405.00
20,590.00
34,995.00
9,588.00
11,202.00
20,790.00
14,205.00
52,620.00
34,927.00
4,296.00
3,860.00
2,408.00
334.00
13.87%

2007

2008

2009

2010

12.67%
10.84%
1.94%

11.99%
11.09%
2.27%

11.74%
11.49%
1.70%

11.83%
11.09%
1.32%

17.13%

17.26%

17.55%

18.22%

100%
66.63%
7.43%
6.09%
3.77%

100%
66.01%
7.31%
6.15%
3.82%

100%
67.13%
7.69%
6.47%
6.83%

100%
66.38%
8.16%
7.34%
4.58%

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

Sales G:
3.00%
2011
813.00
6,757.00
6,254.00
882.00
14,706.00
22,643.00
37,349.00
11,117.00
10,599.00
21,716.00
15,633.00
59,490.00
39,399.00
5,041.00
4,497.00
2,787.00
396.00 Average
14.21%
12.68%
2011 Average
11.36%
10.51%
1.48%

11.92%
11.01%
1.74%

18.69%

17.77%

100%
66.23%
8.47%
7.56%
4.68%

100%
66.47%
7.81%
6.72%
4.74%

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2012
1,896.98
7,302.77
6,744.41
1,067.21
17,011.37
22,643.00
39,654.37
10,888.53
10,599.00
21,487.53
18,166.84
61,274.70
40,731.59
4,787.34
4,118.28
2,901.64
367.80

A2RE $

2,533.84

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2013
4,380.06
7,521.85
6,946.74
1,099.23
19,947.89
22,643.00
42,590.89
11,215.18
10,599.00
21,814.18
20,776.70
63,112.94
41,953.54
4,930.96
4,241.83
2,988.69
378.83

2,609.86

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2014
6,937.64
7,747.51
7,155.15
1,132.21
22,972.50
22,643.00
45,615.50
11,551.64
10,599.00
22,150.64
23,464.86
65,006.33
43,212.15
5,078.89
4,369.09
3,078.35
390.19

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2015
9,571.94
7,979.93
7,369.80
1,166.17
26,087.85
22,643.00
48,730.85
11,898.19
10,599.00
22,497.19
26,233.66
66,956.52
44,508.51
5,231.25
4,500.16
3,170.70
401.90

2,688.15

2,768.80

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2016
12,285.27
8,219.33
7,590.90
1,201.16
29,296.65
22,643.00
51,939.65
12,255.13
10,599.00
22,854.13
29,085.52
68,965.21
45,843.77
5,388.19
4,635.16
3,265.82
413.96

2,851.86

Now
Dividend Expense (in millions)
Dividend per Share

$
$

2012
367.80 $
0.55 $

2013
378.83 $
0.57 $

2014
390.19
0.58

0.5159837849 0.499026571 0.482626637

PRICE
15.70
r=
g=
# of Shares (in millions

6.50%
3.00%
669.3

2015
$
401.90 $
$
0.60 $
P2015
17.67121929
14.20301246

2016
413.96
0.62 $

2017
0.64

2018
$

0.66

2019 etc.
etc.
0.68 etc.

2007

2008

Current

1.5864681643

1.5549675247

Accounts Receivable Turnover

7.8916442049

8.3384695291

45.6178700731

43.1733903619

6.1470588235

5.9498409133

58.5645933014
0.0376619532

60.5058194401
0.0382243631

1.5353983848

1.5342443935

Average Collection Period

Inventory Turnover
Days to Sell Inventory
Net Profit Margin
Total Asset Turnover

2009

2010

2011

2012

2013

2014

1.6936739659

1.5023988319

1.3228388954

1.562320593 1.778649961 1.988678475

8.5208295434

8.4516543527

8.8042030487

8.3906132454 8.390613245 8.390613245

42.249407545

42.5952109464

40.8895612708

42.9050880394 42.90508804 42.90508804

5.8404531947

5.9826995546

6.2998081228

6.0393096834 6.039309683 6.039309683

61.6390523136
0.0682764363

60.1735047385
0.0457620677

57.1445975786
0.0468482098

59.609461821 59.60946182 59.60946182

0.047354606 0.047354606 0.047354606

1.4504381755

1.5036433776

1.59281373

1.5452192741 1.481841435 1.425093075

2015

2016

2.192589652 2.390561669
8.390613245 8.390613245
42.90508804 42.90508804
6.039309683 6.039309683
59.60946182 59.60946182
0.047354606 0.047354606
1.374006913

1.32779501

Explanation
After 2011 Target's Current Ratio began to increase. Meaning that they were more able to pay
there debts
Target has maintained a consistent 8.39 Acc Rec Turnover. Meaning that they are able to
collect a full A/R 8/yr.
Target is has slowly decreased the amount of days it takes for them to collect an A/R to
~43days
Target's Inv. TO is not as good as it was in 2007. They are less efficient at turning over an
entire Inv
Target's best Inv. Hold Per. Was at it's peak in 2007, progressively got worse, and how now
imporved. It takes them 59 days to turnover an entire bal. of inventory
Profit margin is not so great. For every $1 in sale only .047 was collected toward profit
Total Asset turnover has decrease over the years. For every $1 spent in assets $1.32 (in 2026)
were generated