03 Nov Overview of the company (one paragraph) State the name of the company. Provide a brief overview of the company you selected, including a description of its business operations. Sta
For this assignment, address the following seven parts in a Word document:Part 1: Overview of the company (one paragraph)
- State the name of the company.
- Provide a brief overview of the company you selected, including a description of its business operations.
- State the current market price per share.
Part 2: Income statements (one to two paragraphs)
- Summarize key trends in revenues, operating income, and net income over the last 3 years.
Part 3: Common size income statements (one paragraph)
- Evaluate the trends in gross margin, operating income margin, and net profit margin over the past 3 years.
Part 4: Balance sheets (one to two paragraphs)
- Summarize key trends in total assets, total current assets, total current liabilities, long-term debt, and total shareholders’ equity over the past 3 years.
Part 5: Common size balance sheets (one paragraph)
- Evaluate the trends in total current assets as a percent (%) of total assets, total current liabilities as a percent (%) of total assets, long-term debt as percent (%) of total assets, and total shareholders’ equity as a percent (%) of total assets over the past 3 years.
Part 6: Cash flow (one paragraph)
- Calculate simple cash flow for the past 3 years.
- Show your calculations.
- Summarize the trend in simple cash flow for the past 3 years.
- Compare the simple cash flow to the net operating cash flow from the statement of cash flows for the past 3 years.
Part 7: Financial analysis conclusion: (one paragraph)
- Determine the strengths and weaknesses of the company based primarily on the trends in items discussed from the income statements, balance sheets, common size income statements, and common size balance sheets, as well as the comments on cash flow.
- Create a table that indicates whether each financial fact is a strength or a weakness.
- Determine the overall financial strength of the company based on the financial facts included as strengths or weaknesses.
- Categorize the overall financial performance of the company as strong, neutral, or weak.
- Justify your conclusion based on the table you created
- Must be two to three double-spaced pages in length including any tables or calculations (but not including title and references pages) and formatted according to APA Style
Links to an external site. as outlined in the Writing Center’s APA Formatting for Microsoft Word
Links to an external site.
- Must include a separate title page with the following:
- Title of paper in bold font
- Space should be between title and the rest of the information on the title page.
- Student’s name
- Name of institution (The University of Arizona Global Campus)
- Course name and number
- Instructor’s name
- Due date
- Title of paper in bold font
- Must utilize academic voice. See the Academic Voice
Links to an external site. resource for additional guidance.
- Must include a separate references page that is formatted according to APA Style as outlined in the Writing Center. See the APA: Formatting Your References List
Links to an external site. resource in the Writing Center for specifications.
- Must cite where the financial statement information comes from
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Apple Inc (NMS: AAPL)
Company Financials
Income Statement Exchange rate used is that of the Year End reported date
As Reported Annual Income Statement Report Date 09/25/202
1 09/26/202
0 09/28/201
9 Currency USD USD USD Audit Status Not
Qualified Not
Qualified Not
Qualified Consolidated Yes Yes Yes Scale Thousan
ds Thousan
ds Thousan
ds Products 297392000 220747000 213883000 Services 68425000 53768000 46291000 Net sales $365,817,000 $274,515,000 $260,174,000 Cost of sales – products $192,266,000 $151,286,000 $144,996,000 Cost of sales – services $20,715,000 $18,273,000 $16,786,000 Cost of sales $212,981,000 $169,559,000 $161,782,000 Gross margin $152,836,000 $104,956,000 $98,392,000 Research & development expense $21,914,000 $18,752,000 $16,217,000 Selling, general & administrative expense $21,973,000 $19,916,000 $18,245,000 Total operating expenses $43,887,000 $38,668,000 $34,462,000 Operating income (loss) $108,949,000 $66,288,000 $63,930,000 Interest & dividend income $2,843,000 $3,763,000 $4,961,000 Interest expense $2,645,000 $2,873,000 $3,576,000 Other income (expense), net $60,000 -$87,000 $422,000 Other income/(expense), net $258,000 $803,000 $1,807,000 Income (loss) before provision for income taxes $109,207,000 $67,091,000 $65,737,000 Current federal income tax expense (benefit) $8,257,000 $6,306,000 $6,384,000 Deferred federal income tax expense (benefit) -$7,176,000 -$3,619,000 -$2,939,000 Total federal income tax expense (benefit) $1,081,000 $2,687,000 $3,445,000 Current state income tax expense (benefit) $1,620,000 $455,000 $475,000 Deferred state income tax expense (benefit) -$338,000 $21,000 -$67,000 Total state income tax expense (benefit) $1,282,000 $476,000 $408,000 Current foreign income tax expense (benefit) $9,424,000 $3,134,000 $3,962,000 Deferred foreign income tax expense (benefit) $2,740,000 $3,383,000 $2,666,000 Total foreign income tax expense (benefit) $12,164,000 $6,517,000 $6,628,000 Provision for (benefit from) income taxes $14,527,000 $9,680,000 $10,481,000 Net income (loss) $94,680,000 $57,411,000 $55,256,000
Weighted average shares outstanding – basic 16,701,272 17,352,119 18,471,336 Weighted average shares outstanding – diluted 16,864,919 17,528,214 18,595,652 Year end shares outstanding 16,426,786 16,976,763 17,772,944 Net earnings (loss) per share – basic $5.67 $3.31 $2.99 Net earnings (loss) per share – diluted $5.61 $3.28 $2.97 Cash dividends declared per share – $0.80 $0.75 Number of full time employees 154000 147000 137000 Number of common stockholders 23502 22797 23233 Foreign currency translation adjustments – 88000 -408000
Balance Sheet Exchange rate used is that of the Year End reported date
As Reported Annual Balance Sheet Report Date 09/25/202
1 09/26/202
0 09/28/201
9 Currency USD USD USD Audit Status Not
Qualified Not
Qualified Not
Qualified Consolidated Yes Yes Yes Scale Thousan
ds Thousan
ds Thousan
ds Cash & cash equivalents $34,940,000 $38,016,000 $48,844,000 Marketable securities $27,699,000 $52,927,000 $51,713,000 Accounts receivable, net $26,278,000 $16,120,000 $22,926,000 Inventories $6,580,000 $4,061,000 $4,106,000 Vendor non-trade receivables $25,228,000 $21,325,000 $22,878,000 Other current assets $14,111,000 $11,264,000 $12,352,000 Total current assets $134,836,000 $143,713,000 $162,819,000 Marketable securities $127,877,000 $100,887,000 $105,341,000 Land & buildings $20,041,000 $17,952,000 $17,085,000 Machinery, equipment, & internal-use software $78,659,000 $75,291,000 $69,797,000 Leasehold improvements $11,023,000 $10,283,000 $9,075,000 Gross property, plant & equipment $109,723,000 $103,526,000 $95,957,000 Accumulated depreciation & amortization $70,283,000 $66,760,000 $58,579,000 Property, plant & equipment, net $39,440,000 $36,766,000 $37,378,000 Other non-current assets $48,849,000 $42,522,000 $32,978,000 Total non-current assets $216,166,000 $180,175,000 $175,697,000 Total assets $351,002,000 $323,888,000 $338,516,000 Accounts payable $54,763,000 $42,296,000 $46,236,000 Deferred revenue $7,612,000 $6,643,000 $5,522,000 Other current liabilities $47,493,000 $42,684,000 $37,720,000 Commercial paper $6,000,000 $4,996,000 $5,980,000 Term debt $9,613,000 $8,773,000 $10,260,000 Total current liabilities $125,481,000 $105,392,000 $105,718,000
Floating & fixed-rate notes $118,063,000 $106,078,000 $101,679,000 Total debt $118,063,000 $106,078,000 $101,679,000 Unamortized discount -$380,000 -$314,000 -$224,000 Hedge accounting fair value adjustments $1,036,000 $1,676,000 $612,000 Less: current portion of long-term debt $9,613,000 $8,773,000 $10,260,000 Term debt $109,106,000 $98,667,000 $91,807,000 Long-term taxes payable $24,689,000 $28,170,000 $29,545,000 Other non-current liabilities $28,636,000 $26,320,000 $20,958,000 Other non-current liabilities $53,325,000 $54,490,000 $50,503,000 Total non-current liabilities $162,431,000 $153,157,000 $142,310,000 Total liabilities $287,912,000 $258,549,000 $248,028,000 Common stock $57,365,000 $50,779,000 $45,174,000 Retained earnings $5,562,000 $14,966,000 $45,898,000 Cumulative foreign currency translation – -$1,375,000 -$1,463,000 Unrecognized gains (losses) on derivative instruments – -$877,000 $172,000 Unrealized gains (losses) on marketable securities – $1,846,000 $707,000 Accumulated other comprehensive income (loss) $163,000 -$406,000 -$584,000 Total shareholders' equity $63,090,000 $65,339,000 $90,488,000
Cash Flows Exchange rate used is that of the Year End reported date
As Reported Annual Cash Flow Report Date 09/25/202
1 09/26/202
0 09/28/201
9 Currency USD USD USD Audit Status Not
Qualified Not
Qualified Not
Qualified Consolidated Yes Yes Yes Scale Thousan
ds Thousan
ds Thousan
ds Net income (loss) $94,680,000 $57,411,000 $55,256,000 Depreciation & amortization $11,284,000 $11,056,000 $12,547,000 Share-based compensation expense $7,906,000 $6,829,000 $6,068,000 Deferred income tax expense (benefit) -$4,774,000 -$215,000 -$340,000 Other adjustments -$147,000 -$97,000 -$652,000 Accounts receivable, net -$10,125,000 $6,917,000 $245,000 Inventories -$2,642,000 -$127,000 -$289,000 Vendor non-trade receivables -$3,903,000 $1,553,000 $2,931,000 Other current & non-current assets -$8,042,000 -$9,588,000 $873,000 Accounts payable $12,326,000 -$4,062,000 -$1,923,000 Deferred revenue $1,676,000 $2,081,000 -$625,000 Other current & non-current liabilities $5,799,000 $8,916,000 -$4,700,000 Net cash flows from operating activities $104,038,000 $80,674,000 $69,391,000 Purchases of marketable securities -$109,558,000 -$114,938,000 -$39,630,000
Proceeds from maturities of marketable securities $59,023,000 $69,918,000 $40,102,000 Proceeds from sales of marketable securities $47,460,000 $50,473,000 $56,988,000 Payments made in connection with business acquisitions, net-$33,000 -$1,524,000 -$624,000 Purchases of non-marketable securities -$131,000 -$210,000 -$1,001,000 Proceeds from non-marketable securities $387,000 $92,000 $1,634,000 Payments for acquisition of property, plant & equipment-$11,085,000 -$7,309,000 -$10,495,000 Other cash flow from investing activities -$608,000 -$791,000 -$1,078,000 Net cash flows from investing activities -$14,545,000 -$4,289,000 $45,896,000 Proceeds from issuance of common stock $1,105,000 $880,000 $781,000 Payments for taxes related to net share settlement of equity awards-$6,556,000 -$3,634,000 -$2,817,000 Payments for dividends & dividend equivalents -$14,467,000 -$14,081,000 -$14,119,000 Repurchases of common stock -$85,971,000 -$72,358,000 -$66,897,000 Proceeds from issuance of term debt, net $20,393,000 $16,091,000 $6,963,000 Repayments of term debt -$8,750,000 -$12,629,000 -$8,805,000 Proceeds from/(repayments of) commercial paper, net$1,022,000 -$963,000 -$5,977,000 Other cash flows from financing activities -$129,000 -$126,000 -$105,000 Net cash flows from financing activities -$93,353,000 -$86,820,000 -$90,976,000 Net increase (decrease) in cash, cash equivalents & restricted cash-$3,860,000 -$10,435,000 $24,311,000 Cash, cash equivalents & restricted cash, beginning balances$39,789,000 $50,224,000 $25,913,000 Cash, cash equivalents & restricted cash, ending balances$35,929,000 $39,789,000 $50,224,000 Cash paid (received) for income taxes, net $25,385,000 $9,501,000 $15,263,000 Cash paid for interest $2,687,000 $3,002,000 $3,423,000
,
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Apple Inc (NMS: AAPL)
Company Financials
Income Statement Exchange rate used is that of the Year End reported date
As Reported Annual Income Statement Report Date 09/25/2021 09/26/2020 09/28/2019 Currency USD USD USD Audit Status Not Qualified Not Qualified Not Qualified Consolidated Yes Yes Yes Scale Thousands Thousands Thousands Products Services Net sales 100.00% 100.00% 100.00% Cost of sales – products 52.56% 55.11% 55.73% Cost of sales – services 5.66% 6.66% 6.45% Cost of sales 58.22% 61.77% 62.18% Gross margin 41.78% 38.23% 37.82% Research & development expense 5.99% 6.83% 6.23% Selling, general & administrative expense 6.01% 7.25% 7.01% Total operating expenses 12.00% 14.09% 13.25% Operating income (loss) 29.78% 24.15% 24.57% Interest & dividend income 0.78% 1.37% 1.91% Interest expense 0.72% 1.05% 1.37% Other income (expense), net 0.02% -0.03% 0.16% Other income/(expense), net 0.07% 0.29% 0.69% Income (loss) before provision for income taxes 29.85% 24.44% 25.27% Current federal income tax expense (benefit) 2.26% 2.30% 2.45% Deferred federal income tax expense (benefit) -1.96% -1.32% -1.13% Total federal income tax expense (benefit) 0.30% 0.98% 1.32% Current state income tax expense (benefit) 0.44% 0.17% 0.18% Deferred state income tax expense (benefit) -0.09% 0.01% -0.03% Total state income tax expense (benefit) 0.35% 0.17% 0.16% Current foreign income tax expense (benefit) 2.58% 1.14% 1.52% Deferred foreign income tax expense (benefit) 0.75% 1.23% 1.02% Total foreign income tax expense (benefit) 3.33% 2.37% 2.55% Provision for (benefit from) income taxes 3.97% 3.53% 4.03% Net income (loss) 25.88% 20.91% 21.24% Weighted average shares outstanding – basic 4.57% 6.32% 7.10% Weighted average shares outstanding – diluted 4.61% 6.39% 7.15% Year end shares outstanding 4.49% 6.18% 6.83% Net earnings (loss) per share – basic 0.00% 0.00% 0.00% Net earnings (loss) per share – diluted 0.00% 0.00% 0.00% Cash dividends declared per share NM 0.00% 0.00% Number of full time employees 0.04% 0.05% 0.05% Number of common stockholders 0.01% 0.01% 0.01% Foreign currency translation adjustments NM 0.03% -0.16%
Balance Sheet Exchange rate used is that of the Year End reported date
As Reported Annual Balance Sheet Report Date 09/25/2021 09/26/2020 09/28/2019 Currency USD USD USD Audit Status Not Qualified Not Qualified Not Qualified Consolidated Yes Yes Yes Scale Thousands Thousands Thousands Cash & cash equivalents 9.95% 11.74% 14.43% Marketable securities 7.89% 16.34% 15.28% Accounts receivable, net 7.49% 4.98% 6.77%
Inventories 1.87% 1.25% 1.21% Vendor non-trade receivables 7.19% 6.58% 6.76% Other current assets 4.02% 3.48% 3.65% Total current assets 38.41% 44.37% 48.10% Marketable securities 36.43% 31.15% 31.12% Land & buildings 5.71% 5.54% 5.05% Machinery, equipment, & internal-use software 22.41% 23.25% 20.62% Leasehold improvements 3.14% 3.17% 2.68% Gross property, plant & equipment 31.26% 31.96% 28.35% Accumulated depreciation & amortization 20.02% 20.61% 17.30% Property, plant & equipment, net 11.24% 11.35% 11.04% Other non-current assets 13.92% 13.13% 9.74% Total non-current assets 61.59% 55.63% 51.90% Total assets 100.00% 100.00% 100.00% Accounts payable 15.60% 13.06% 13.66% Deferred revenue 2.17% 2.05% 1.63% Other current liabilities 13.53% 13.18% 11.14% Commercial paper 1.71% 1.54% 1.77% Term debt 2.74% 2.71% 3.03% Total current liabilities 35.75% 32.54% 31.23% Floating & fixed-rate notes 33.64% 32.75% 30.04% Total debt 33.64% 32.75% 30.04% Unamortized discount -0.11% -0.10% -0.07% Hedge accounting fair value adjustments 0.30% 0.52% 0.18% Less: current portion of long-term debt 2.74% 2.71% 3.03% Term debt 31.08% 30.46% 27.12% Long-term taxes payable 7.03% 8.70% 8.73% Other non-current liabilities 8.16% 8.13% 6.19% Other non-current liabilities 15.19% 16.82% 14.92% Total non-current liabilities 46.28% 47.29% 42.04% Total liabilities 82.03% 79.83% 73.27% Common stock 16.34% 15.68% 13.34% Retained earnings 1.58% 4.62% 13.56% Cumulative foreign currency translation NM -0.42% -0.43% Unrecognized gains (losses) on derivative instruments NM -0.27% 0.05% Unrealized gains (losses) on marketable securities NM 0.57% 0.21% Accumulated other comprehensive income (loss) 0.05% -0.13% -0.17% Total shareholders' equity 17.97% 20.17% 26.73%
Cash Flows Exchange rate used is that of the Year End reported date
As Reported Annual Cash Flow Report Date Currency Audit Status Consolidated Scale Net income (loss) Depreciation & amortization Share-based compensation expense Deferred income tax expense (benefit) Other adjustments Accounts receivable, net Inventories Vendor non-trade receivables Other current & non-current assets Accounts payable Deferred revenue Other current & non-current liabilities Net cash flows from operating activities Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments made in connection with business acquisitions, net Purchases of non-marketable securities Proceeds from non-marketable securities Payments for acquisition of property, plant & equipment Other cash flow from investing activities
Net cash flows from investing activities Proceeds from issuance of common stock Payments for taxes related to net share settlement of equity awards Payments for dividends & dividend equivalents Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Proceeds from/(repayments of) commercial paper, net Other cash flows from financing activities Net cash flows from financing activities Net increase (decrease) in cash, cash equivalents & restricted cash Cash, cash equivalents & restricted cash, beginning balances Cash, cash equivalents & restricted cash, ending balances Cash paid (received) for income taxes, net Cash paid for interest
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