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FINANCIAL
STATEMENTS
MADE GITANADYA, SE., MSM.
The Use of Ratios
1. as a mean of comparison with:
Historical performance
Closest competitor
Industrial average
Profitability Liquidity
Debt/
Activity
Solvency
• Debt Ratio •Inventory Turnover
• Debt-Equity •Average Collection
Period
FINANCIAL
•Average Payment
period RATIOS
PROFITABILITY
Income Statement 1 January 2014 - 31 December 2014
Sales 9,000,000 Gross profit
Cost of Good solds 4,500,000 Gross profit margin = --------------------- = 50%
Gross Profit 4,500,000 Sales
Operating expenses 3,090,000
Advertising 426,000
Operating profit
Salaries 1,403,000
Operating profit margin = ------------------------ = 16%
Insurance 110,000 Sales
Depreciation 500,000
Maintenance 90,000 Net profit
Other expenses 561,000 Net profit margin = --------------------- = 11.9%
Profit from operation (EBIT) 1,410,000 Sales
Interest expenses 24,000
Profit before taxation (EBT) 1,386,000
Taxation 388,080 APA BEDANYA?
Net Profit (EAT) 997,920
Profitability
EAT
Return on assets = --------------------- = 10.97%
Total assets
EAT
Return on equity = --------------------- = 16.63%
Total Equity
Assets Liabilities & Equity
Current Assets 1,600,000 Current Liabilities 1,200,000
Cash and cash equivalents 100,000 Acc. Payable 1,200,000
Acc. Receivables 900,000
Inventory 600,000 Long-term Liabilities 1,900,000
Long term loan 1,900,000
Non-current Assets 7,500,000
Property, Plant & Equipment 9,000,000 Shareholders' Equity 6,000,000
Accumulated Depreciation 1,500,000 Ordinary shares 5,000,000
Retained earning 1,000,000
Total Assets 9,100,000 Total Liabilities & Equity 9,100,000
The Relationship Between Profitability Ratios
Measures
Rate of
return to Typical result
return on
providers of
Assets All funds Lowest (includes all assets)
Higher than ROA (relative small amount of short-
Investment Long-term funds
term funds)
Higher than ROI (measures return only to
Total equity Equity
shareholders)
Highest
• Common shareholders absorb greatest degree of
Common equity Common equity risk
• Requires that return to preferred shareholders
exceed funds paid to preferred shareholders
Chapter
Copyright 2007 by Thomson South-Western, a part of The Thomson Corporation. All rights reserved. 8, Slide
#6
Profitability Ratio for Semen Indonesia
Sales
Receivables Turnover = --------------------- = 10 x
Acc. Receivable
Sales
Working Capital Turnover = --------------------------- = 22.5x
Net Working Capital
Total Debt
Debt to Equity Ratio = -------------------- = 52%
Total Equity
Apa bedanya?