宝洁vs联合利华财务报表对比分析英文版资料.ppt

1 Short-term liquidity analysis-Unilever 2012:current ratio=12147/15815=0.7681times 2013:current ratio=12122/17382=0.6974times 2014:current ratio=12347/19642=0.6286times From 2012 to 2014,all current ratios of less than 1 would mean that net working capital was negative.Every year,the current ratio slightly lower than last year.The company increased in short-term debt,so increased the current liabilities. 1 Short-term liquidity analysis-Unilever 2012:quick ratio=(12147-4436)/15815=0.4876 2013:quick ratio=(12122-3937)/17382=0.4709 2014:quick ratio=(12347-4168)/19642=0.4164 From 2012 to 2014,the short-term solvency of company was weakened.The quick ratio was lower than the previous year.The major factors were that the inventories slightly increased and raised the current liabilities. 1 Short-term liquidity analysis-Unilever 2012:cash ratio=2465/15815=0.1559 2013:cash ratio=2285/17382=0.1315 2014:cash ratio=2151/19642=0.1095 From 2012to 2014,the ability of company to repay the short-term debt with cash was descended.Because the reduction of cash assets,and slower than the changing rate of current liabilities. 2 Long-term financial leverage anayles-Unilever Total debt ratio in 2014=33764/48027=0.7030 Total debt ratio in 2013=30698/45513=0.6745 Total debt ratio in 2012=30240/46189=0.6547 From 2012 to 2014,total debt ratio were rising.The higher this ratio is,the more enterprise risk Unilever had to face. 3.turnover ratios anaylsis-Unilever Inventory turnover in 2014：28387/4168=6.8107 times Inventory turnover in 2013：29065/3937=7.3825 times Inventory turnover in 2012：30530/4436=6.8823 times Unilevers inventory turnover in 2014 dropped to the lowest in three years.It means that Unilever were managing inventory less efficiently. 3.Asset turnover ratios anaylsis-Unilever Total asset turnover in 2014：48436/48027=1.0085 Total asset turnover in 2013：49797/45513=1.0941 Total asset turnover in 2012：51324/46189=1.1112 From 2012 to 2014,all total asset turnovers w