Vendor 2014 Unit Shipments 2014 Market Share 2015 Unit Shipments 2015 Market Share

Fitbit 10.9 37.98% 21.0 26.92%

Xiaomi 1.1 3.83% 12.0 15.38%
Apple 0.0 0.00% 11.6 14.87%
Garmin 2.0 6.97% 3.3 4.23%
Samsung 2.7 9.41% 3.1 3.97%
Others 12.0 41.81% 27.0 34.62%
Total 28.7 100.00% 78.0 100.00%

Market Share in 2014

Fitbit
Xiaomi
37.98% 34
Apple
41.81%
Garmin
Samsung
Others

3.83%
9.41% 6.97%

990.91%
1000.00%
900.00%
800.00%
700.00%
600.00%
Fitbit
500.00%
Xiaomi
400.00% Garmin
300.00% Samsung
125.00% Others
200.00% 92.66% 65.00%
100.00% 14.81%

0.00%
 Xiaomi
400.00% Garmin
300.00% Samsung
125.00% Others
200.00% 92.66% 65.00%
100.00% 14.81%

0.00%

* Comparative data for Apple Inc. missing

Financial Analyses

2014 2015 2016

Revenue (B) 0.74 1.86 2.4
EBITA 191.1 389.9 440
Gross Margin 48% 48.50% 48.50%

2014 2015 2016

EBITA 191.1 389.9 440

2014 2015 2016

Gross Margin 48% 48.50% 48.50%
 Year-over Year growth
92.66%
990.91%
N/A
65.00%
14.81%
125.00%
171.78%

Market Share in 2015

26.92% Fitbit
34.62% Xiaomi
Apple
Garmin
Samsung
Others

15.38%
3.97%
4.23%
14.87%

Fitbit
Xiaomi
Garmin
Samsung
Others
Xiaomi
Garmin
Samsung
Others

Revenue (B)

2.5

1.5

0.5

0
2014 2015 2016

Gross Margin

49%
48%
48%
48%
48%
48%
48%
48%
48%
2014 2015 2016
 EBITA

450
400
350
300
250
200
150
100
50
0
2014 2015 2016
Key Financial Ratios

Profitability
1 – Operating Profit margin = Operatating income /Sales
2 - Net Profit Margin = Profit after Taxes / Sales
3 - ROA (return on assets) = net income / total assets
3 - ROE (return on equity) = net income /shareholders equity

Liquidity

1 - Current ratio = current assets /current liabilities

2 - Working capital = current assets - current liabilities

Leverage

1 - Total debt to assets = total debt/total assets

2 - Long term debt to capital = Long term debt /(long term debt + shareholder equity)
3 - Debt to equity = total debt /shareholder equity

Activity

1 - days of inventory ( inventory/COGS :365)

2 - Agerage collection = AR/(total revenue/365)

Stock price increased from $20 to $35 and delined to $14

 2015 2014

0.1874059466 0.2118620989 Shows the profitablity of the operations Downward

0.0945517702 0.1767791337 Shows after tax profit per dollar of sales Downward
0.1156480364 0.2081617437 Returned earned on the form total assets Downward
0.1789972194 1.7509101539 Return on the investment (very low) Downward

2.6667886522 1.220805487 good liquidity in 2015

847157 101860 good position (more internal funds available)

0.3539115483 0.7739897733 Good leverage

0.0290440627 0.2758116352 It shows Strenght in the balance sheet
0.5477756913 6.5102575005

67.949536802 108.31325301 Operation activities are better in 2015 then 2014

190.06218211 243.76297682