SAM tw

Strategic Analysis Model - that works

Financial Analysis Module - For Use With 3 Years Data

TABLE OF CONTENTS
Go To Go To
Income Statements Input Sheet Print Activity Ratios Print
Input Input
Go To Go To
Balance Sheets Input Sheet Print Leverage Ratios Print
Input Input
Go To Go To
Year-to-Year Change Income Statement Print Profitability Ratios Print
Input Input
Go To Go To
Common Size Income Statements Print Altman's Z-Score Analysis Print
Input Input
Go To Go To
Liquidity Ratios Print Financial Analysis Summary Print
Input Input
Print ALL Financial Analysis Worksheets
 Company Name Here

Financial Analysis - Income Statement Data

In Thousands
2009 2010 2011

Revenue component 1 $ - $ - $ -
Revenue component 2
Revenue component 3
Revenue component 4
Total Revenues or Sales - - -
Cost of Goods Sold
Operating Income - - -
Selling Expenses
General & Administrative
Earnings Before Interest, Taxes,
Depreciation & Amortization
(EBITDA) - - -
Depreciation and Amortization

Earnings Before Interest & Taxes

(EBIT) - - -
Net Interest Expense
Other Expense (Income)
Net Income Before Taxes (NIBT) - - -
Income Tax Expense

Net Income After Taxes (NIAT) $ - $ - $ -

Number of Shares Outstanding

Preferred Stock Dividends

Net Earnings per Share (EPS) #DIV/0! #DIV/0! #DIV/0!

Revenues Net Income After Taxes

$1 $1
$1 $1
$1 $1
$1 $1
$1 $1
$1 $1
$0 $0
$0 $0
$0 $0
$0 $0
$- $-
2009 2010 2011 2009 2010 2011
 Company Name Here

Financial Analysis - Balance Sheet Data

In Thousands
2009 2010 2011

Assets
Cash & Cash Equivalents
Accounts Receivable
Inventory
Prepaid Expenses & Deposits
Other Current Assets
Total Current Assets - - -
Land and Buildings
Furniture and Equipment
Other Fixed Assets
Total Fixed Assets - - -

Total Assets - - -

Liabilities and Stockholder's Equity

Liabilities
Accounts Payable
Accrued Liabilities
Current Maturities of LT Debt
Related Party Notes Payable
Other Current Liabilities
Total Current Liabilities - - -
LT Debt, net of current portion
Deferred Income Taxes
Total Liabilities - - -

Stockholder's Equity
Common Stock
Retained Earnings
Additional Paid-in Capital
Other Equity
Total Stockholder's Equity - - -

Total Liabilities &

Stockholder's Equity
Must match with Total Assets $ - $ - $ -

Working Capital
(Current Assets
- Current Liabilities) $ - $ - $ -
 Company Name Here

Financial Analysis

Income Statement - Year-to-Year Percentage Changes

2010 2011 Two-Yr Average

% Increase (Decrease) % Increase (Decrease) Percentage Increase/
Over Previous Year Over Previous Year (Decrease)

Revenue component 1 #DIV/0! #DIV/0! #DIV/0!

Revenue component 2 #DIV/0! #DIV/0! #DIV/0!

Revenue component 3 #DIV/0! #DIV/0! #DIV/0!

Revenue component 4 #DIV/0! #DIV/0! #DIV/0!

Total Revenues or Sales #DIV/0! #DIV/0! #DIV/0!

Cost of Goods Sold #DIV/0! #DIV/0! #DIV/0!

Operating Income #DIV/0! #DIV/0! #DIV/0!

Selling Expenses #DIV/0! #DIV/0! #DIV/0!

General & Administrative #DIV/0! #DIV/0! #DIV/0!

Earnings Before Interest, Taxes,

Depreciation & Amortization (EBITDA) #DIV/0! #DIV/0! #DIV/0!

Depreciation and Amortization #DIV/0! #DIV/0! #DIV/0!

Earnings Before Interest & Taxes

(EBIT) #DIV/0! #DIV/0! #DIV/0!

Net Interest Expense #DIV/0! #DIV/0! #DIV/0!

Other Expense (Income) #DIV/0! #DIV/0! #DIV/0!

Net Income Before Taxes (NIBT) #DIV/0! #DIV/0! #DIV/0!

Income Tax Expense #DIV/0! #DIV/0! #DIV/0!

Net Income After Taxes (NIAT) #DIV/0! #DIV/0! #DIV/0!

 Company Name Here

Financial Analysis

Common Size Income Statements

Line Items Reflected as a Percentage of Total Revenues or Sales

2009 2010 2011

Revenue component 1 #DIV/0! #DIV/0! #DIV/0!

Revenue component 2 #DIV/0! #DIV/0! #DIV/0!

Revenue component 3 #DIV/0! #DIV/0! #DIV/0!

Revenue component 4 #DIV/0! #DIV/0! #DIV/0!

Total Revenues or Sales 100.00% 100.00% 100.00%

Cost of Goods Sold #DIV/0! #DIV/0! #DIV/0!

Operating Income #DIV/0! #DIV/0! #DIV/0!

Selling Expenses #DIV/0! #DIV/0! #DIV/0!

General & Administrative #DIV/0! #DIV/0! #DIV/0!

Earnings Before Interest, Taxes,

Depreciation & Amortization (EBITDA) #DIV/0! #DIV/0! #DIV/0!

Depreciation and Amortization #DIV/0! #DIV/0! #DIV/0!

Earnings Before Interest & Taxes (EBIT) #DIV/0! #DIV/0! #DIV/0!

Net Interest Expense #DIV/0! #DIV/0! #DIV/0!

Other Expense (Income) #DIV/0! #DIV/0! #DIV/0!

Net Income Before Taxes (NIBT) #DIV/0! #DIV/0! #DIV/0!

Income Tax Expense #DIV/0! #DIV/0! #DIV/0!

Net Income After Taxes (NIAT) #DIV/0! #DIV/0! #DIV/0!

 Company Name Here

Financial Analysis

Liquidity Ratios & Analysis

12.00

Current Ratio 2009 2010 2011 10.00

8.00
Total Current
6.00
Assets - - -
4.00
÷ Total Current 2.00
Liabilities - - -
-
2009 2010 2011
= Current Ratio #DIV/0! #DIV/0! #DIV/0!

Discussion

80
9.
Quick Ratio 2009 2010 2011 .40
8
Total Current 00
7.
Assets - 60
Inventories - - - 5.
.20
4
÷ Total Current 80
2.
Liabilities - - - 40
1.
-
2009 2010 2011
= Quick Ratio #DIV/0! #DIV/0! #DIV/0!

Discussion

Inventory to Net
Working Capital 60
2009 2010 2011 9.
40
8.
20
7.
Inventory - - - .00
6
.80
4
÷ Current Assets - 3.60
Current Liabilities - - - 40
2.
20
1.
Inventory to Net -
= Working Capital #DIV/0! #DIV/0! #DIV/0! 2009 2010 2011

Discussion
 Company Name Here
Financial Analysis

Activity Ratios & Analysis

Inventory 12.00

Turnover 2009 2010 2011 10.00

8.00

COGS - - - 6.00
4.00
÷
Inventory - - - 2.00

= -
Inventory
2009 2010 2011
Turnover #DIV/0! #DIV/0! #DIV/0!

Discussion

12.00
Total-Asset
Turnover 2009 2010 2011 10.00

8.00

6.00
Sales - - -
4.00

÷ 2.00
Total Assets - - -
-
= Total Asset 2009 2010 2011
Turnover #DIV/0! #DIV/0! #DIV/0!

Discussion

Average Collection 12.00

Period 2009 2010 2011 10.00

8.00
A/R - - -
6.00

÷ Average Daily 4.00

Sales - - - 2.00
= Average
-
Collection Period
2009 2010 2011
(days) #DIV/0! #DIV/0! #DIV/0!

Discussion
 Company Name Here

Financial Analysis

Leverage Ratios & Analysis

Use either Debt-to-Assets ratio or Debt-to-Equity ratio, not both.

Debt-to-Assets 12.00

Ratio 2009 2010 2011 10.00

8.00

Total Debt - - - 6.00

4.00
÷
Total Assets - - - 2.00

= -
Debt-to-Assets
2009 2010 2011
Ratio #DIV/0! #DIV/0! #DIV/0!

Discussion

12.00
Debt-to-Equity
Ratio 2009 2010 2011 10.00

8.00

6.00
Total Debt - - -
4.00

÷ 2.00
Total Equity - - -
-
= Debt-to-Equity 2009 2010 2011
Ratio #DIV/0! #DIV/0! #DIV/0!

Discussion

12.00
Times Interest
Earned (TIE) or 10.00

Coverage Ratio 2009 2010 2011 8.00

6.00
EBIT - - -
4.00

÷ 2.00
Interest Expense - - -
-
= Times Interest 2009 2010 2011
Earned #DIV/0! #DIV/0! #DIV/0!

Discussion
 Company Name Here
Financial Analysis

Profitability Ratios & Analysis

12.00
10.00
Net Profit Margin 2009 2010 2011
8.00
6.00
NIAT - - - 4.00
2.00
÷ Sales - - -
-
2009 2010 2011
= Net Profit Margin #DIV/0! #DIV/0! #DIV/0!

Discussion

12.00

Return on Equity 2009 2010 2011 10.00

8.00
6.00
NIAT - - -
4.00
÷ Stockholder's Equity - - - 2.00
-
= Return on Equity #DIV/0! #DIV/0! #DIV/0! 2009 2010 2011

Discussion

12.00

Return on Assets 2009 2010 2011 10.00

8.00
6.00
NIAT - - -
4.00
÷ Total Assets - - - 2.00
-
= Return on Assets #DIV/0! #DIV/0! #DIV/0! 2009 2010 2011

Discussion

The following two ratios are much less useful to a strategist because they do not use NIAT in the numerator:
12.00

Gross Profit Margin 2009 2010 2011 10.00

8.00
6.00
Sales - COGS - - -
4.00
÷ Sales - - - 2.00
-
2009 2010 2011
= Gross Profit Margin #DIV/0! #DIV/0! #DIV/0!
Discussion

12.00

Return on Sales 2009 2010 2011 10.00

8.00
6.00
EBIT - - -
4.00
÷ Sales - - - 2.00
-
= Return on Sales #DIV/0! #DIV/0! #DIV/0! 2009 2010 2011

Discussion
 Company Name Here

Financial Analysis

Altman's Z-Score (for manufacturers) and Z2-Score (for non-manufacturers)

The Ratios: Results:

2009 2010 2011

X1 = Net Working Capital / Total

Assets X1 = #DIV/0! #DIV/0! #DIV/0!

X2 = Retained Earnings / Total

Assets
X2 = #DIV/0! #DIV/0! #DIV/0!
X3 = EBIT / Total Assets
X3 = #DIV/0! #DIV/0! #DIV/0!
X4 = Market Value of Equity /
Book Value of Debt X4 = #DIV/0! #DIV/0! #DIV/0!
X5 = Sales / Total Assets
X5 = #DIV/0! #DIV/0! #DIV/0!
X4a = Net Worth / Total Debt
X4a = #DIV/0! #DIV/0! #DIV/0!
Note: Because in most instances the market value of equity and the book value of debt are not given, SAM TW
instead uses Total
Equity and Total Debt, respectively. In addition, it assumes that Total Equity equals Net Worth, so that, in fact, the
ratios X4 and X4a are computed to be identical. The resulting errors from these simplifying assumptions are negligible.

The Formulae and Results:

For manufacturers: Z = 1.2X1 + 1.4X2 + 3.3X3 + 0.6X4 + 1.0X5 =
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!

For non-manufacturers: Z2 = 6.5X1 + 3.26X2 + 6.72X3 + 1.05X4a =

#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!

What does it mean?

Criteria Safe Region Gray Region Bankrupt Region

Z (for Manufacturers) > 2.99 1.81 -- 2.99 < 1.81

Z2 (for Non-Manufacturers) > 2.59 1.11 -- 2.59 <1.11

 Company Name Here

Financial Analysis

Summary of Financial Analysis

Choose one ...

There are five types of general conclusions that can be drawn from this type of financial analysis.
Please check the one that you feel is most representative of this company's performance.
Be prepared to support the conclusion chosen.

The company has been well managed, has performed well, and is in strong financial condition. All supporting
indicators are P's, not N (see below).

As above, except for one or two N indicators.

Roughly equal number of P and N indicators.

As below, except for one or two P indicators.

All supporting indicators are N's, not P.

In the table below, indicate up to seven financial indicators and their values as of the most recent year that
support your conclusion. All indicators chosen should somehow support the chosen conclusion. If you find
that, in fact, they support a different conclusion, then click on that one. Overwrite the examples shown with
support for your conclusion.

Based upon the conclusion chosen above, all indicators chosen should show strong performance to
support your conclusion. Indicate P or N for Positive or Negative in the column labeled "P/N."

Indicator Indication Comments/Discussion P/N

NIAT NIAT increased 35.93% last year This is astounding growth rate. P

Debt/Equity Ratio D/E is 0.33, well below danger value of 2.0 Good indication of strong leverage. P

Declined 2.33% last year, disappointing

Revenues This is astounding growth rate. N
given positive growth in prior years.

Summarize overall conclusion here:

Enter your text here