CHAPTER 19 Investments Financial Statement Analysis Slides by Richard D. Johnson Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved.

Slides:

Advertisements

Similar presentations

McGraw-Hill © 2004 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Working With Financial Statements Chapter 3.

Advertisements

McGraw-Hill/Irwin Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved CHAPTER 3 Financial Statements Analysis and Long- Term Planning.

Essentials of Investments © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Fourth Edition Irwin / McGraw-Hill Bodie Kane Marcus 1 Chapter 14.

Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc., 1999 Financial Statement Analysis © The McGraw-Hill Companies, Inc., Part One: Financial Accounting.

McGraw-Hill/Irwin Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved CHAPTER 3 Financial Statements Analysis and Long- Term Planning.

Fall-02 Investments Zvi Wiener tel: Financial Statement Analysis BKM.

Financial Statement Analysis

McGraw-Hill/Irwin © 2008 The McGraw-Hill Companies, Inc., All Rights Reserved. Financial Statement Analysis CHAPTER 14.

INVESTMENTS | BODIE, KANE, MARCUS Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin CHAPTER 19 Financial Statement.

Financial Statements, Taxes, and Cash Flow

Business Unit Performance Measurement Chapter 14 Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.

3-1 McGraw-Hill/Irwin Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved.

14 Financial Statement Analysis Bodie, Kane, and Marcus

Chapter 17 Financial Statement Analysis. Topics Covered  Financial Ratios  DuPont System  Using Financial ratios  Measuring Company Performance 

Fundamental Analysis. Overview of Company Analysis Once we’ve completed the economic forecast and industry analysis, we can focus on choosing the best.

1 FINANCIAL STATEMENT ANALYSIS CHAPTER 13. Fundamental Analysis Finance (chapter 12): Valuation techniques  Dividend discount model, P/E ratio  Need.

McGraw-Hill © 2004 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Working With Financial Statements Chapter 3.

McGraw-Hill/Irwin ©2001 The McGraw-Hill Companies All Rights Reserved 3.0 Chapter 3 Working With Financial Statements.

Macroeconomic and Industry Analysis

Financial Statement Analysis

McGraw-Hill/Irwin Copyright © 2005 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Macroeconomic and Industry Analysis.

CHAPTER 18 Investments Equity Valuation Models Slides by Richard D. Johnson Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved McGraw-Hill/Irwin.

Investments: Analysis and Behavior Chapter 10- Financial Statement Analysis ©2008 McGraw-Hill/Irwin.

Parts of a Financial Statement 1.Statement of Income 2.Balance Sheet 3.Statement of Cash Flow 4.Statement of Stockholders’ Equity.

Copyright © 2006 McGraw Hill Ryerson Limited17-1 prepared by: Sujata Madan McGill University Fundamentals of Corporate Finance Third Canadian Edition.

Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Financial Statement Analysis Chapter 14 McGraw-Hill/Irwin.

McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Financial Statement Analysis Chapter 14.

1 FIN 2802, Spring 10 - Tang Chapter 19: Financial Statement Analysis Fin2802: Investments Spring, 2010 Dragon Tang Lecture 15 Financial Statement Analysis.

1- 1 Corporate Finance and Applications – Review of Financial Topics for Case Studies Fall 2015 Dr. Richard Michelfelder.

CHAPTER 17 Investments Macroeconomic and Industry Analysis Slides by Richard D. Johnson Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights.

Chapter 14 Financial Statement Analysis Income Statement Four broad types of accounts: –Cost of goods sold –General and administrative expenses.

1- 1 Financial Management Princeton PMBA Program August 22, 2015 to November 24, 2015 Dr. Richard Michelfelder.

McGraw-Hill © 2004 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Working With Financial Statements Chapter 3.

Chapter 28 Financial Analysis Principles of Corporate Finance

Parts of a Financial Statement 1.Statement of Income 2.Balance Sheet 3.Statement of Cash Flow 4.Statement of Stockholders’ Equity.

4- 1 McGraw Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved Fundamentals of Corporate Finance Sixth Edition Richard.

Copyright © 2009 Pearson Prentice Hall. All rights reserved. Chapter 2 Financial Statements and Analysis.

Chapter 2 Financial Ratio Analysis. 2-2 Example 2.1 Problem  Rylan Enterprises has 5 million shares outstanding.  The market price per share is $22.

Chapter 2 Introduction to Financial Statement Analysis.

Class Business Debate Proforma Assignment. Business Cycle – Peak – Trough Industry relationship to business cycles – Cyclical – Defensive Business Cycles.

Chapter 17 Fundamentals of Corporate Finance Fifth Edition Slides by Matthew Will McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc.

Chapter Thirteen Financial Statement Analysis McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Financial Statements Analysis Chapter 3.

1 Chapter 03 Analyzing Financial Statements McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

McGraw-Hill/Irwin Copyright © 2005 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 19 Financial Statement Analysis.

ANALISIS EKUITAS: COMPANY ANALYSIS Pertemuan 11 -mupo- Mata kuliah: F Pengantar Analisis Pendapatan Tetap Dan Ekuitas Tahun: 2010.

Chapter 3 Financial Analysis.

Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Financial Statement Analysis Chapter 14 McGraw-Hill/Irwin.

Measuring Corporate Performance

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Bodie Kane Marcus Perrakis RyanINVESTMENTS, Fourth Canadian Edition Copyright © McGraw-Hill Ryerson Limited, 2003 Slide 15-1 Chapter 15.

Chapter 29 Principles PrinciplesofCorporateFinance Ninth Edition Financial Analysis and Planning Slides by Matthew Will Copyright © 2008 by The McGraw-Hill.

Chapter 17 Fundamentals of Corporate Finance Fifth Edition Slides by Matthew Will McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc.

Chapter McGraw-Hill/Irwin Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. 4 Long-Term Financial Planning and Growth.

McGraw-Hill/Irwin © 2007 The McGraw-Hill Companies, Inc., All Rights Reserved. Financial Statement Analysis CHAPTER 13.

 The McGraw-Hill Companies, Inc., 1999 INVESTMENTS Fourth Edition Bodie Kane Marcus Irwin/McGraw-Hill 19-1 Financial Statement Analysis Chapter 19.

INVESTMENTS | BODIE, KANE, MARCUS Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written.

Pre – MBA Program Accounting Ratios Nov 11, 2012.

Financial Statement Analysis

Financial Statement Analysis

Financial Statement Analysis

Financial Statement Analysis

Long-Term Financial Planning and Growth

Equity Valuation Models

Analysis of Financial Statements

Financial Statement Analysis

Corporate Finance, Concise

Chapter 28 Financial Analysis Principles of Corporate Finance

FINANCIAL STATEMENT ANALYSIS

Presentation transcript:

CHAPTER 19 Investments Financial Statement Analysis Slides by Richard D. Johnson Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved McGraw-Hill/Irwin Cover image

19- 2 Cover image  Purpose  Tools Used –Statement analysis –Ratio analysis  Limitations Overview

19- 3 Cover image  Balance Sheet –Common Sized –Trend or Indexed  Income Statement –Common Sized –Trend or Indexed  Statement of Cash Flows Financial Statements

19- 4 Cover image Table 19.1 Consolidated Statement of Income for Hewlett-Packard, 2005

19- 5 Cover image Table 19.2 Consolidated Balance Sheet for Hewlett-Packard, 2005

19- 6 Cover image Table 19.3 Statement of Cash Flows for Hewlett-Packard, 2005

19- 7 Cover image Profitability Measures  ROE: measures the profitability for contributors of equity capital  ROA: measures the profitability for all contributors of capital  Leverage has a significant effect on profitability measures

19- 8 Cover image Table 19.4 Nodett’s Profitability over the Business Cycle

19- 9 Cover image Table 19.5 Impact of Financial Leverage on ROE

Cover image ROE = Net Profit Pretax Profit x EBIT x Sales Assets xx Equity (1) x (2) x (3) x (4) x (5) x Margin x Turnover x Leverage Tax Burden Interest Burden Decomposition of ROE x

Cover image Table 19.6 Ratio Decomposition Analysis for Nodett and Somdett

Cover image Table 19.7 Differences between Profit Margin and Asset Turnover across Industries

Cover image Table 19.8 Growth Industries Financial Statements, 2004 – 2007 ($ thousands)

Cover image Table 19.9 Effect of ROE and Plowback Ratio on P/B

Cover image Table Summary of Key Financial Ratios

Cover image Table Summary of Key Financial Ratios

Cover image Table Summary of Key Financial Ratios

Cover image Table Summary of Key Financial Ratios

Cover image Table Summary of Key Financial Ratios

Cover image Figure 19.1 Financial Ratios for Hewlett- Packard

Cover image Table Financial Ratios for Major Industry Groups

Cover image Economic Value Added  Difference between return on assets (ROA) and the opportunity cost of capital (k)  EVA = above difference time the invested capital  EVA can be positive or negative for firms that have positive earnings

Cover image Table Economic Value Added, Year Ending January 2006

Cover image Table Key Financial Ratios of Growth Industries, Inc

Cover image Table Grow Industries Statement of Cash Flows ($ thousands)

Cover image  Accounting Differences –Inventory Valuation –Depreciation  Inflation  International Accounting Conventions Comparability Problems

Cover image International Accounting Differences  Reserves – many other countries allow more flexibility in use of reserves.  Depreciation – US allows separate tax and reporting presentations.  Intangibles – treatment varies widely.

Cover image Figure 19.2 Comparative Accounting Rules

Cover image Figure 19.3 Adjusted versus Reported Price- Earnings Ratios