Analysis of Financial Statements
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TrevoseFitnessCenterFinancialForms.xlsxBalance Sheet
| Trevose Fitness Center Balance Sheet | ||||
| (numbers are in 000's) | As of December 31, XXXX | |||
| 2011 | 2012 | 2013 (e) | ||
| Assets: | ||||
| Cash | $ 20,000 | $ 30,000 | $ 10,000 | |
| Short-Term Investments | $ 5,000 | $ 7,000 | $ 6,000 | |
| Accounts Receivables | $ 10,000 | $ 13,600 | $ 20,000 | |
| Inventories | $ 2,000 | $ 3,000 | $ 7,000 | |
| Total Current Assets: | $ 37,000 | $ 53,600 | $ 43,000 | |
| Gross Fixed Assets | $ 800,000 | $ 850,000 | $ 1,600,000 | |
| Less Accumulated Depreciation | $ 320,000 | $ 340,000 | $ 520,000 | |
| Net Fixed Assets | $ 480,000 | $ 510,000 | $ 1,080,000 | |
| Total Assets: | $ 517,000 | $ 563,600 | $ 1,123,000 | |
| (numbers are in 000's) | As of December 31, XXXX | |||
| 2011 | 2012 | 2013 (e) | ||
| Liabilities : | ||||
| Accounts Payable | $ 1,500 | $ 2,000 | $ 5,000 | |
| Notes Payable | $ 8,000 | $ 10,000 | $ 20,000 | |
| Accruals | $ 2,000 | $ 3,000 | $ 7,000 | |
| Total Current Liabilities: | $ 11,500 | $ 15,000 | $ 32,000 | |
| Long-Term Debt | $ 200,000 | $ 180,000 | $ 400,000 | |
| Total Liabilities: | $ 211,500 | $ 195,000 | $ 432,000 | |
| Equity: | ||||
| Common Stock (200,000 shares) | $ 200,000 | $ 200,000 | $ 500,000 | |
| Retained Earnings | $ 105,500 | $ 168,600 | $ 191,000 | |
| Total Equity: | $ 305,500 | $ 368,600 | $ 691,000 | |
| Total Liabilities and Equity: | $ 517,000 | $ 563,600 | $ 1,123,000 | |
Income Statement
| Trevose Fitness Center Income Statement | |||||
| (numbers are in 000's) | For Year Ended December 31, XXXX | ||||
| 2011 | 2012 | 2013 e | |||
| Net Sales | $ 350,000 | $ 393,000 | $ 660,000 | ||
| Depreciation | $ 18,000 | $ 20,000 | $ 44,000 | ||
| Other Operating Expenses | $ 200,000 | $ 230,000 | $ 538,000 | ||
| Earnings before Interest and Taxes (EBIT) | $ 132,000 | $ 143,000 | $ 78,000 | ||
| Less Interest Expense | $ 4,000 | $ 4,500 | $ 9,000 | ||
| Earnings before Taxes (EBT) | $ 128,000 | $ 138,500 | $ 69,000 | ||
| Taxes (40%) | $ 51,200 | $ 55,400 | $ 27,600 | ||
| Net Income available to common stockholders | $ 76,800 | $ 83,100 | $ 41,400 | ||
| Common Dividends | $ 20,000 | $ 20,000 | $ 50,000 | ||
| Addition to Retained Earnings | $ 56,800 | $ 63,100 | $ (8,600) | ||
| Number of Common Shares | 2,000,000 | 2,000,000 | 5,000,000 | ||
| Stock Price Per Share | $ 150.00 | $ 180.00 | |||
| Earnings Per Share | $ 38.40 | $ 41.55 | $ 8.28 | ||
Financial Ratios
| Finanicial Ratios for Trevose Fitness Center | |||||||
| Liquidity Ratios: | 2011 | 2012 | 2013 (e) | Industry Average | |||
| Current | 3.22 | 3.57 | 1.34 | 2 | |||
| Quick | 3.04 | 3.37 | 1.13 | 1.8 | |||
| Asset Management Ratios: | 2011 | 2012 | 2013 (e) | Industry Average | |||
| Total Asset Turnover | 0.68 | 0.70 | 0.59 | 0.5 | |||
| DSO | 10.43 Days | 12.63 Days | 11.06 Days | 30 Days | |||
| Debt Management Ratios: | 2011 | 2012 | 2013 (e) | Industry Average | |||
| Debt to Equity | 0.68 | 0.52 | 0.61 | 0.5 | |||
| Times Interest Earned | 33.00 | 31.78 | 8.67 | 10 | |||
| Profitabiltiy Ratios: | 2011 | 2012 | 2013 (e) | Industry Average | |||
| Net Profit Margin | 0.22 | 0.21 | 0.06 | 0.1 | |||
| Return on Equity (ROE) | 0.25 | 0.23 | 0.06 | 0.12 | |||
| Market Value Ratio: | 2011 | 2012 | 2013 (e) | Industry Average | |||
| Price/Earnings (P/E) | 3.91 | 4.33 | 3 |
TVM
| Present Value = | 5,000,000 | |||||
| Compounding Rate = | Monthly | 12 | ||||
| Annuity Payments = | 0 | |||||
| Interest Rate per Year | 8 | |||||
| Number of Years | 5 | |||||
| Future Value | $7,449,228.54 |
in 000
| Assets: | 2011 | 2012 | 2013 (e) | 0 | Libilities : | 2011 | 2012 | 2013 (e) |
| Cash | $ 20,000,000.00 | $ 30,000,000.00 | $ 10,000,000.00 | $ - 0 | Accounts Payable | $ 1,500,000.00 | $ 2,000,000.00 | $ 5,000,000.00 |
| Short-Term Investments | $ 5,000,000.00 | $ 7,000,000.00 | $ 6,000,000.00 | Notes Payable | $ 8,000,000.00 | $ 10,000,000.00 | $ 20,000,000.00 | |
| Accounts Receivables | $ 10,000,000.00 | $ 13,600,000.00 | $ 20,000,000.00 | Accurals | $ 2,000,000.00 | $ 3,000,000.00 | $ 7,000,000.00 | |
| Inventories | $ 2,000,000.00 | $ 3,000,000.00 | $ 7,000,000.00 | Total Current Liabilities: | $ 11,500,000.00 | $ 15,000,000.00 | $ 32,000,000.00 | |
| Total Current Assets: | $ 37,000,000.00 | $ 53,600,000.00 | $ 43,000,000.00 | Long-Term Debt | $ 200,000,000.00 | $ 180,000,000.00 | $ 400,000,000.00 | |
| Gross Fixed Assets | $ 800,000,000.00 | $ 850,000,000.00 | $ 1,600,000,000.00 | Total Liabilities: | $ 211,500,000.00 | $ 195,000,000.00 | $ 432,000,000.00 | |
| Less Accumulated Depreciation | $ 320,000,000.00 | $ 340,000,000.00 | $ 520,000,000.00 | Equity: | ||||
| Net Fixed Assets | $ 480,000,000.00 | $ 510,000,000.00 | $ 1,080,000,000.00 | Common Stock (200,000 shares) | $ 200,000,000.00 | $ 200,000,000.00 | $ 500,000,000.00 | |
| Total Assets: | $ 517,000,000.00 | $ 563,600,000.00 | $ 1,123,000,000.00 | Retained Earnings | $ 105,500,000.00 | $ 168,600,000.00 | $ 191,000,000.00 | |
| Total Equity: | $ 305,500,000.00 | $ 368,600,000.00 | $ 691,000,000.00 | |||||
| Total Liabilities and Equity: | $ 517,000,000.00 | $ 563,600,000.00 | $ 1,123,000,000.00 | |||||
| Income Statement (numbers are in 000's) | 2011 | 2012 | 2013 e | |||||
| Net Sales | $ 350,000,000.00 | $ 393,000,000.00 | $ 660,000,000.00 | |||||
| Depreciation | $ 18,000,000.00 | $ 20,000,000.00 | $ 44,000,000.00 | |||||
| Other Operating Expenses | $ 200,000,000.00 | $ 230,000,000.00 | $ 538,000,000.00 | |||||
| Earnings before Interest and Taxes (EBIT) | $ 132,000,000.00 | $ 143,000,000.00 | $ 78,000,000.00 | |||||
| Less Interest | $ 4,000,000.00 | $ 4,500,000.00 | $ 9,000,000.00 | |||||
| Earnings before Taxes (EBT) | $ 128,000,000.00 | $ 138,500,000.00 | $ 69,000,000.00 | |||||
| Taxes (40%) | $ 51,200,000.00 | $ 55,400,000.00 | $ 27,600,000.00 | |||||
| Net Income available to common stockholders | $ 76,800,000.00 | $ 83,100,000.00 | $ 41,400,000.00 | |||||
| Common Dividends | $ 20,000,000.00 | $ 20,000,000.00 | $ 50,000,000.00 | |||||
| Addition to Retained Earnings | $ 56,800,000.00 | $ 63,100,000.00 | $ (8,600,000.00) | |||||
| Number of Common Shares | 2,000,000 | 2,000,000 | 5,000,000 | |||||
| Stock Price Per Share | $ 150.00 | $ 180.00 | ? | |||||
| Earnings Per Share | $ 38.40 | $ 41.55 | $ 8.28 |
Sheet1
| Balance Sheet (numbers are in 000's) | As of December 31, XXXX | Balance Sheet (numbers are in 000's) | As of December 31, XXXX | |||||||
| 2011 | 2012 | 2013 (e) | 2011 | 2012 | 2013 (e) | |||||
| Assets: | Libilities : | |||||||||
| Cash | $ 20,000 | $ 30,000 | $ 10,000 | Accounts Payable | $ 1,500 | $ 2,000 | $ 5,000 | |||
| Short-Term Investments | $ 5,000 | $ 7,000 | $ 6,000 | Notes Payable | $ 8,000 | $ 10,000 | $ 20,000 | |||
| Accounts Receivables | $ 10,000 | $ 13,600 | $ 20,000 | Accurals | $ 2,000 | $ 3,000 | $ 7,000 | |||
| Inventories | $ 2,000 | $ 3,000 | $ 7,000 | Total Current Liabilities: | $ 11,500 | $ 15,000 | $ 32,000 | |||
| Total Current Assets: | $ 37,000 | $ 53,600 | $ 43,000 | Long-Term Debt | $ 200,000 | $ 180,000 | $ 400,000 | |||
| Gross Fixed Assets | $ 800,000 | $ 850,000 | $ 1,600,000 | Total Liabilities: | $ 211,500 | $ 195,000 | $ 432,000 | |||
| Less Accumulated Depreciation | $ 320,000 | $ 340,000 | $ 520,000 | |||||||
| Net Fixed Assets | $ 480,000 | $ 510,000 | $ 1,080,000 | Equity: | ||||||
| Total Assets: | $ 517,000 | $ 563,600 | $ 1,123,000 | Common Stock (200,000 shares) | $ 200,000 | $ 200,000 | $ 500,000 | |||
| Retained Earnings | $ 105,500 | $ 168,600 | $ 191,000 | |||||||
| Total Equity: | $ 305,500 | $ 368,600 | $ 691,000 | |||||||
| Total Liabilities and Equity: | $ 517,000 | $ 563,600 | $ 1,123,000 | |||||||
| For Year Ended | ||||||||||
| Income Statement (numbers are in 000's) | 2011 | 2012 | 2013 e | |||||||
| Net Sales | $ 350,000 | $ 393,000 | $ 660,000 | |||||||
| Depreciation | $ 18,000 | $ 20,000 | $ 44,000 | |||||||
| Other Operating Expenses | $ 200,000 | $ 230,000 | $ 538,000 | Liquidity: | 2011 | 2012 | 2013 (e) | Industry Average | ||
| Earnings before Interest and Taxes (EBIT) | $ 132,000 | $ 143,000 | $ 78,000 | Current | 3.2173913043 | 3.5733333333 | 1.34375 | 2 | good but in est year | |
| Less Interest | $ 4,000 | $ 4,500 | $ 9,000 | Quick | 3.0434782609 | 3.3733333333 | 1.125 | 1.8 | ||
| Earnings before Taxes (EBT) | $ 128,000 | $ 138,500 | $ 69,000 | |||||||
| Taxes (40%) | $ 51,200 | $ 55,400 | $ 27,600 | Asset Management | ||||||
| Net Income available to common stockholders | $ 76,800 | $ 83,100 | $ 41,400 | Total Asset Turnover | 0.68 | 0.70 | 0.59 | 0.5 | good | |
| DSO | 10.43 | 12.63 | 11.06 | 30 Days | good | |||||
| Common Dividends | $ 20,000 | $ 20,000 | $ 50,000 | |||||||
| Addition to Retained Earnings | $ 56,800 | $ 63,100 | $ (8,600) | Debt Management Ratios | ||||||
| Number of Common Shares | 2,000,000 | 2,000,000 | 5,000,000 | Debt to Equity | 68% | 52% | 61% | 50% | close | |
| Stock Price Per Share | $ 150.00 | $ 180.00 | ? | Times Interest Earned | 33 | 31.7777777778 | 8.6666666667 | 10 | ||
| Earnings Per Share | $ 38.40 | $ 41.55 | $ 8.28 | |||||||
| Profitabiltiy Ratios | ||||||||||
| Net Profit Margin | 22% | 21% | 6% | 10% | good but in est year | |||||
| Return on Equity (ROE) | 25% | 23% | 6% | 12% | ||||||
| Market Value Ratio | ||||||||||
| Price/Earnings Ratio | 3.91 | 4.33 | 3 |
