可口可樂公司財務(wù)報表分析financial實用教案

1、Members of our groupWe have 12 members in our group. They are:曹斯燁 何杭珂 樂卓羚(data collecting)費濤 韓超凡 鄭東華(dn hu) 龍晴 朱寧峰（data analysis ） 沈穎 鮑銀盈 諸葛霖 樓何英(PPT maker)Presentation is made by:曹斯燁 ，龍晴, 諸葛霖第1頁/共25頁第一頁，共26頁。Brief Introduction of the companyCoca-Cola Company was established in 1892 and headquartere

2、d in Atlanta, United States. With 48% of the global market share and the ownership of two of the top three drinks (Coca-Cola, Pepsi Cola, Diet Coke ) in the world, It is one of the worlds largest beverage companies. 第2頁/共25頁第二頁，共26頁。Brief Introduction of the companyThe Coca-Cola Company is the world

3、s largest beverage distributors(飲料(ynlio)銷售商). It keeps over 500 kinds of drinks brands (including soft drinks, sports drinks, dairy drinks, fruit juices, tea and coffee, fruit juice) in over 200 countries. It can be said that the products of Coca-Cola is being purchased in every corner among the wo

4、rld.第3頁/共25頁第三頁，共26頁。Balance Sheet Financial statements第4頁/共25頁第四頁，共26頁。Balance Sheet第5頁/共25頁第五頁，共26頁。Income Statement第6頁/共25頁第六頁，共26頁。Cash Flow第7頁/共25頁第七頁，共26頁。General Tendency Total assets，total debt and debt to assets keep in a raising tendency.第8頁/共25頁第八頁，共26頁。General TendencyOperating Cash-in w

5、as keeping raising during the past 3 years and the investing and financing Cash-out stays stable.第9頁/共25頁第九頁，共26頁。General Tendency The revenue during the past 3 years was fluctuating. But the net income and profit margin kept raising. So the profitability of the company was raising during the past 3

6、 years. 第10頁/共25頁第十頁，共26頁。Revenue Total revenues of each year from 2008 to 2010. (in millions of USD) Total revenue from sales in 2010 is the highest among the 3years. So in the year of 2010, sales of the company was prefect, it was a good year for the company.第11頁/共25頁第十一頁，共26頁。RevenueTotal Revenue

7、 of the three years. (Pepsi VS Coca) But compared with the Pepsi Company, we found that revenue from sales (among these three years) of Pepsi company all exceed the Coca Company. The revenue data of Pepsi was more stable and more able to increase. So we can conclude that problems can be found in the

8、 operating of the Coca company.第12頁/共25頁第十二頁，共26頁。Vertical analysisCocaPepsiAssetsCash11.70%8.70%Total receivable6.10%9.30%Total invention3.60%4.90%Total current assets29.60%25.80%Intangible goodwill net36.90%20.30%Other asset12.10%31.00%Liabilities RatioCocaPepsilong term debt0.450.94Total current

9、liability1.350.74第13頁/共25頁第十三頁，共26頁。Vertical analysis Assets: In 2010,Coca cola companys percentage of flow asset is 21.4%,but Pepsi companys percentage of flow assets is 22.9%.The greater percentage of flow assets in total assets stands for greater operating of the company, so Pepsi companys operat

10、ing in2010 was greater than Coca Cola. Liabilities: The ratio of total liabilities divided by total equity is 1.35 of Coca Cola company in 2010, this show that this company has full ability to pay liabilities, and its safe for investors to invest. Pepsi company of this ratio is 0.74,much lower than

11、Coca Cola company, so it was safer for investors to invest Coca Cola than Pepsi company. As for long term liability divided by total equity, Pepsi companys ratio was higher than Coca Cola company, it shows Pepsi companys cash flow was more frequent than Coca Cola ,but we must care about Pepsi compan

12、ys operating.第14頁/共25頁第十四頁，共26頁。Analysis of ratio from Balance SheetHorizontal analysis and comparing, Liquidityyear201020092008Items (in Millions of USD)CocaPepsiCocaPepsiCocaPepsiOperating Capital（運營資本）3,071.00 1,677.00 3,830.00 3,815.00 -812.00 2,019.00 Debt to Total Assets(資產(chǎn)負債率)0.580.690.490.58

13、0.490.66Current Rate（流動比率）1.21.11.31.40.941.2Equity Ratio(產(chǎn)權(quán)比率)1.42.20.961.40.982Cash to Current Liability Ratio(現(xiàn)金流動負債比)0.520.600.58Inventory Turnover Term(存貨周轉(zhuǎn)周期)70.673.569.2Accounts Receivable Turnover Term(應(yīng)收賬款周轉(zhuǎn)周期)41.942.339.640.93640.9第15頁/共25頁第十五頁，共26頁。Analysis the liquidity The operation cap

14、ital is increasing during the three years. And stay in the high level. (no risk of abnormal operating caused from leaking operating capital. ) Debt to total assets ratio is staying in a perfect level (below 0.7) both Coca and Pepsi. (So no risk of payment of total liability.) Current rate stays stab

15、le but not at a perfect level. (it will be perfect if the rate is 2) Equity Ratio of Coca is raising during three years but stay in a good level near 1.2. (During the recovery of economy, the company can gradually increase this ratio to gain more benefits.) The Cash to Current Liability Ratio of the

16、 Coca company decreased from 2009 to 2010 and is a little high. (perfect data is 0.5) But during the recovery period of economy, is not a bad thing to move the loss to creditors. The Inventory Turnover Term is increasing from 2008 to 2010, so the liquidity of inventory is a little decrease but still

17、 high. Accounts Receivable Turnover Ratio stays stable during three years and in a high level. All these can show that the capital of Coca-Cola company is in a high liquidity level.第16頁/共25頁第十六頁，共26頁。Analysis the Solvency Solvency of Short-term liability (all about 2010) Coca PepsiPerfect dataCurren

18、t rate1.21.11.2Cash to current liability rate0.520.5 We can conclude from the table that figures of the Current Rate and Cash to Current Liability Rate are all close to the perfect data. So the Coca-Cola Company doesnt have to take the risk in paying short-term liability. And the data of two compani

19、es are closed.第17頁/共25頁第十七頁，共26頁。 Solvency of long-term Liabilities (all about 2010)CocaPepsiPerfect dataDebt to total assets0.580.690.7Equity ratio1.42.21.2 We can conclude from the table that the Coca company has lower rate of long-term liability. So the risk in paying the long-term liability is n

20、one, either.第18頁/共25頁第十八頁，共26頁。Analysis the profitabilityYear 201020092008In millions of USDCocaPepsiCocaPepsiCocaPepsiROE（資產(chǎn)收益率）0.420.330.300.410.280.35Perfect data is 0.08The ROE keeps raising from 0.28 in the year of 2008 to 0.42 in the year of 2010. So the profitability of the company is keeping

21、 raising. This also can be seen from the chart on the left (profit margin). Compared to Pepsi, the company of Coca-Cola has the stronger profitability.第19頁/共25頁第十九頁，共26頁。Analysis the Cash FlowCash-in2010 Total Cash-in=161871、Cash from operating activities/Total Cash-in=88.3%2、Cash from investing act

22、ivities/Total Cash-in=03、Cash from financing activities/Total Cash-in=11.7%2009 Total Cash-in=116891、 Cash from operating activities/Total Cash-in=74.9%2、 Cash from investing activities/Total Cash-in=03、 Cash from financing activities/Total Cash-in=25.1% The operating cash-in take 88.3% of the total

23、 cash-in in 2010, it can conclude that operating activities is the most important part of the cash flow. And from 2009 to 2010, the part operating take increased from 74.9% to 88.3%. We can conclude that the operating activities became much better. And in that case the finance base of the company is

24、 stable and strong. But the disadvantages of this situation is that the structure of the funds is single. And if problem arise to the operating activities, the company will suffer a great loss.第20頁/共25頁第二十頁，共26頁。Cash -out2010 Total Cash-out=146911、 Cash from operating activities/Total Cash-out=32.4%

25、2、 Cash from investing activities/Total Cash-out=30.0%3、 Cash from financing activities/Total Cash-out=37.6%2009 Total Cash-out=1、 Cash from operating activities/Total Cash-out=6.0%2、 Cash from investing activities/Total Cash-out=44.3%3、 Cash from financing activities/Total Cash-out=49.7%The three p

26、arts of cash-out takes almost the same part of the total cash-out in 2010. Among them cash from financing activities takes the largest part with 37.6%. It can be conclude that the company focus its funds not only on operating, but also pay much attention to the investing activities and other financi

27、ng activities. Its a good thing to a company because this means the company can arrange its funds property to make more profits.（more Financial Flexibility ）第21頁/共25頁第二十一頁，共26頁。Quality of earningStructure of earning2010 Total Cash-in=161871、Cash from operating activities/Total Cash-in=88.3%2、Cash from investing activities/To