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재무관리 Toyota 재무분석
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Stock price $63.30 per share, Closing price at Mar, 31, 2009
Shares outstanding N = 65,344,300 shares as of Mar, 31, 2009
Key Financial Data Summary (in thousand dollars)
CA 115,025,000 CL 107,801,000 Tot Debt 193,432,000
Tot Equity 102,425,000
TA 295,857,000 Cash and Cash Equivalents 25,343,000 Net Receivable 63,343,000
Inventory (2009) 14,857,000 Inventory (2008) 18,220,000
Tot Revenue (2009) 208,995,000 Tot Revenue (2008) 262,394,000
Cost of Revenue (2009) 187,884,000 Cost of Revenue (2008) 214,795,000
Interest expenses 477,000 Depreciation N/A
Operating Income (4,693,000) EBIT (5,228,000) NI (4,448,000)
Book Value per share = 102,425,000/65,343,300 = $1.567
EPS = NI/N = (4,448,000)/65,343,300 = $(0.07)
Key Financial Ratios
Current ratio = current assets/ = 115,025,000/107,801,000 = 1.067
Quick ratio = (current assets-inventory)/current liabilities
= (115,025,000-14,857,000)/107,801,000 = 0.929
Cash ratio = Cash and Cash Equivalents/ current liabilities = 25,343,000/107,801,000 = 0.235
Total debt ratio = Tot Debt/ TA = (193,432,000/295,857,000)*100 = 65.4 percent
Debt - Equity ratio = Tot Debt/ Tot Equity = (193,432,000/102,425,000)*100 = 188.9 percent
Equity multiplier = TA/ Tot Equity = 295,897,000/102,425,000 = 2.889
Times interest earned ratio = EBIT/ Interest expenses = (5,228,000)/477,000= (11.0)
Cash coverage ratio = 40.9, assuming zero depreciation
Inventory turnover (2008) = Cost of Revenue/inventory = 214,795,000/18,220,000 = 11.79
Day’s sales in inventory (2008) = 365/Inventory turnover = 365/11.79 = 31.0 days
Receivable turnover = Tot Revenue/ Net Receivable = 208,995,000/63,343,000 = 3.30
Day’s sales in receivables = 365/ Receivable turnover = 365/3.30 = 110.6 days
Total asset turnover = Tot Revenue/TA = 208,995,000/295,857,000 = 0.71
Profit margin = NI/ Tot Revenue = (4,448,000)/208,995,000*100 = -2.13 percent
ROA = NI/TA = (4,448,000)/295,857,000*100 = -1.50 percent
ROE = NI/ Tot Equity = (4,448,000)/102,425,000*100 = -4.34 percent
Price-earnings ratio = Price per share/EPS = 63.30/ (0.07) = - 904.3
Market-to-book ratio = Market value per share/Book value per share = 63.30/ 1.567 = 40.40
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