阿迪达斯财务分析.pptxVIP

AdidasGroup 10当前第1页\共有27页\编于星期三\12点 Content Introduction HorizontalVertical analysis Ratio Risk/Strategy analysissummary当前第2页\共有27页\编于星期三\12点 Introduction On August 18, 1949 ，Adidas AG registered In?August?2005,?Adidas?announced?a?$?3.8? billion?US?dollar?acquisition?of?rival?Reebok A German?multinational corporation?that designs and manufactures sports shoes, clothing and accessories. Adidas is the largest?sportswear ?manufacturer in Europe and the second biggest in the world, after?Nike.当前第3页\共有27页\编于星期三\12点 Horizontal analysisThis changes suggested that the company decreased its assets base during 2013 and financed its assuming long-term debt rather than retained income .当前第4页\共有27页\编于星期三\12点 Overall, gross profit and net income were up. Gross profit increased 0.52%, and net income, 50.76%. Adidas’s profit trend appears favorable.当前第5页\共有27页\编于星期三\12点 In the horizontal analysis of the statement of financial position the ending retained earnings increased 11.34%. As indicated earlier, the company retained a significant portion of net income.当前第6页\共有27页\编于星期三\12点 Vertical analysis Adidas is choosing to keep the scale through retention of earnings rather than through issuing additional debt.当前第7页\共有27页\编于星期三\12点 Adidas appears to be a profitable enterprise that is becoming even more successful.当前第8页\共有27页\编于星期三\12点 RatioAssets managementProfitability Long-term solvencyMarket value当前第9页\共有27页\编于星期三\12点 Assets managementCurrent Ratio urrent Ratio AdidasNike2013201220131.45：11.57:13.47:1We can know that it had low adequate current assets relative to its current liabilities.当前第10页\共有27页\编于星期三\12点 Acid-Test Ratio AdidasNike2013201220130.75：10.85:12.31:1The ratio had declined in 2013. When compared with Nike’s of 2.31:1, Adidas’ acid-test ratio seemed too low.Acid-Test Ratio ssets management当前第11页\共有27页\编于星期三\12点 Assets managementAccounts Receivable Turnover8.29 times=9.07 timesAccounts Receivab