Question
In: Finance
Balance Sheet Data P&G Unilever Colgate-Palmolive Current Assets $ 23,320 $ 15,481 $ 3,793 Accounts Receivable $ 4,686 $ 4,204 $ 1,400...
| Balance Sheet Data | P&G | Unilever | Colgate-Palmolive |
| Current Assets | $ 23,320 | $ 15,481 | $ 3,793 |
| Accounts Receivable | $ 4,686 | $ 4,204 | $ 1,400 |
| Beginning Total Assets | $120,406 | $ 60,285 | $12,676 |
| Ending Total Assets | $118,310 | $ 59,456 | $12,161 |
| PPE (Fixed Assets) | $ 20,600 | $ 10,347 | $ 3,881 |
| Beginning Inventory | $ 4,624 | $ 3,962 | $ 1,221 |
| Ending Inventory | $ 4,738 | $ 4,301 | $ 1,250 |
| Current Liabilities | $ 28,237 | $ 19,772 | $ 3,329 |
| Accounts Payable | $ 10,344 | $ 14,317 | $ 1,212 |
| Total Liabilities | $ 65,247 | $ 47,164 | $ 11,964 |
| Income Statement Data | |||
| Sales | $ 66,832 | $ 50,982 | $ 15,544 |
| Prior Year Sales | $ 53,715 | $ 46,467 | $ 15,454 |
| COGS | $33,449 | $30,703 | $ 6,282 |
| Prior Year COGS | $31,942 | $30,547 | $ 6,099 |
| SGA Expense | $18,602 | $25,000 | $ 5,443 |
| Prior Year SGA Expense | $18,431 | $13,507 | $ 5,408 |
| Interest Expense | $ 506 | $ 591 | $ 143 |
| Operating Income | $14,781 | $ 9,334 | $ 3,759 |
| Net Income | $ 9,750 | $ 9,389 | $ 2,558 |
| Equity Data | |||
| Beginning Stockholder's Equity | $54,178 | $13,629 | -$ 60 |
| Ending Stockholder's Equity | $51,326 | $11,572 | -$ 102 |
| Profitability Ratios | P&G | Unilever | Colgate-Palmolive |
| Gross Profit Margin | 39.8% | 59.6% | |
| Operating Profit Margin | 18.3% | 24.2% | |
| Profit Margin | 18.4% | 16.5% | |
| Return on Assets | 15.7% | 20.6% | |
| Return on Equity | 74.5% | -3158% | |
| Liquidity Ratios | P&G | Unilever | Colgate-Palmolive |
| Current Ratio | 0.78 | 1.14 | |
| Quick Ratio | 0.57 | 0.77 | |
| Leverage Ratios | P&G | Unilever | Colgate-Palmolive |
| Debt to Equity | 3.74 | -147.70 | |
| Times Interest Earned | 15.79 | 26.29 | |
| Activity Ratios | P&G | Unilever | Colgate-Palmolive |
| Inventory Turnover | 7.41 | 5.01 | |
| Avg. Days in Inventory | 49.24 | 72.85 | |
| Fixed Asset Turnover | 4.93 | 4.01 | |
| Days Receivable | 30.10 | 32.87 | |
| Days Payable | 170.20 | 70.42 | |
| Composite Ratio | P&G | Unilever | Colgate-Palmolive |
| Cash to Cash Cycle | -90.86 | 35.30 |
Calculate Profitability ratios, liquidity ratios, Leverage ratios, activity/ efficiency ratios for P&G?
Solutions
Expert Solution
P&G ratios:
1. Gross profit margin= Gross profit/ Sales
GP= Sales-COGS= 66832-33449= 33383
Gross profit margin= 33383/66832= 49.95%
2. Operating profit margin= Operating income/Sales
=14781/66832= 22.11%
3. Profit margin= Net income/Sales
= 9750/66832= 14.58%
4. Return on assets= Net income/ AverageTotal assets
Average total assets= (Beginning total assets + Ending total assets)/2
= (120406+ 118310)/2 = 119358
Return on assets= 9750/119358= 8.17%
5. Return on equity= Net income/Average Shareholder's equity
Average shareholder's equity= (54178+51326)/2 = 52752
Return on equity= 9750/52752= 18.48%
6. Current ratio= Current assets/Current liabilities
= 23320/28237 = 0.82
7. Quick ratio= Quick assets/Current liabilities
Quick assets= Current assets- Ending Inventory= 23320-4738 = 18582
Quick ratio= 18582/28237 = 0.66
8. Debt to Equity= Debt/ Average Equity
Note: From the D/E ratio of other two companies it seems that the total liabilities have been considered as equivalent to the debt, so we will be using the same assumption here.
Average equity= 52752 (from above)
Debt to Equity= 65247/52752= 1.23
9. Times interest earned= Operating income/Interest expense
= 14781/506= 29.21
10. Inventory turnover= Average COGS/Average Inventory
Average COGS= (33449+31942)/2= 32696
Average inventory= (4624+4738)/2 = 4681
Inventory turnover= 32696/4681= 6.98
11. Average days in turnover= 365/inventory turnover
= 365/6.98= 52.29
12. Fixed assets turnover ratio= Sales/ Fixed assets
= 66832/20600= 3.24
13. Days receivable= 365/accounts receivable tunrover ratio
Accounts receivable turnover ratio= sales/ receivable
Accounts receivable turnover ratio= 66832/4686= 14.26
Days receivable= 365/14.26 = 25.60
14. Days payable= 365/Payable turnover ratio
Payable turnover ratio= COGS/Account payables
= 33449/10344= 3.23
Days payable= 365/3.23= 113.00
15. Cash to cash cycle= Inventory days+ Receivable days- Payable days
= 52.29+25.60-113.00 =-35.11
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