In this project, you are supposed to be a financial manager working for a big corporation. You will determine the cost of debt, c
In this project, you are supposed to be a financial manager working for a big corporation. You will determine the cost of debt, cost of preferred stock, cost of common equity, capital structure, and the weighted average cost of capital (WACC) for a publicly traded company of your choice.
University of Houston-Victoria FINC 6352- Financial Management Dr. Xavier Garza Gomez Mini Project 2
Capital Structure and Cost of Capital
1. Purpose of the project: In this project, you are supposed to be a financial manager working for a big corporation and you have to apply the knowledge obtained from the financial management (FINC6352) course. You will determine the cost of debt, cost of preferred stock, cost of common equity, capital structure, and the weighted average cost of capital (WACC) for a publicly traded company of your choice. 2. Outline for the project:
(1) Cost of capital components – Estimate the firm’s before-tax and after-tax component cost of debt; – Estimate the firm’s component cost of preferred stock; – Use three approaches (CAPM, DCF, bond-yield-plus-risk-premium) to estimate the component cost of common equity of the firm. Include your own calculation of the beta for the company. (2) Estimate Capital Structure – Estimate the firm’s weights of debt, preferred stock, and common stock using the firm’s balance sheet (book value) – Estimate the firm’s weights of debt, preferred stock, and common stock using the market value of each capital component – Calculate the firm’s weighted average cost of capital (WACC) with both structures
3. Other information regarding the project:
(1) Your project should be well-organized and typed in a Word document, but you must attach the Excel file with your report. The style and organization part of the project account for 10 percent of the grade. (2) Information obtained in this MP will be used in other mini projects so any feedback received on the calculation of WACC must be incorporated for the next Mini project.
This mini project is worth 60 points (out of 1000).
,
Compet1
Home Depot Inc (NYS: HD) | |||||||||||||||
Exchange rate used is that of the Year End reported date | |||||||||||||||
HD | |||||||||||||||
Profitability Ratios | 01/31/2021 | 02/02/2020 | 02/03/2019 | 01/28/2018 | 01/29/2017 | 01/31/2016 | 02/01/2015 | 02/02/2014 | 02/03/2013 | 01/29/2012 | 01/30/2011 | 01/31/2010 | 02/01/2009 | 02/03/2008 | 01/28/2007 |
ROA % (Net) | 21.18 | 23.67 | 24.72 | 19.78 | 18.66 | 17.04 | 15.81 | 13.23 | 10.94 | 9.66 | 8.26 | 6.5 | 5.3 | 8.95 | 11.94 |
ROE % (Net) | 14099.83 | AvgEqty<0 | AvgEqty<0 | 299.07 | 149.85 | 89.89 | 58.25 | 35.64 | 25.01 | 21.17 | 17.49 | 14.36 | 12.77 | 20.23 | 22.24 |
ROI % (Operating) | 53.2 | 57.05 | 54.76 | 52.19 | 48.46 | 43.61 | 39.05 | 32.93 | 26.69 | 23.3 | 20.29 | 16.53 | 14.48 | 21.01 | 28.66 |
EBITDA Margin % | 15.67 | 16.39 | 16.27 | 16.59 | 16.28 | 15.41 | 14.73 | 13.86 | 12.64 | 11.85 | 11.11 | 9.99 | 8.78 | 11.83 | 12.72 |
Calculated Tax Rate % | 24.22 | 23.6 | 23.6 | 37 | 36.3 | 36.4 | 36.4 | 36.4 | 37.2 | 36.01 | 36.7 | 34.2 | 35.6 | 36.4 | 38.11 |
Revenue per Employee | 262427 | 265884 | 257756 | 244991 | 233633 | 230551 | 224810 | 216516 | 216309 | 213258 | 212411 | 209331 | 222000 | 229904 | 250238 |
Liquidity Ratios | 01/31/2021 | 02/02/2020 | 02/03/2019 | 01/28/2018 | 01/29/2017 | 01/31/2016 | 02/01/2015 | 02/02/2014 | 02/03/2013 | 01/29/2012 | 01/30/2011 | 01/31/2010 | 02/01/2009 | 02/03/2008 | 01/28/2007 |
Quick Ratio | 0.47 | 0.23 | 0.22 | 0.34 | 0.32 | 0.33 | 0.28 | 0.31 | 0.34 | 0.34 | 0.16 | 0.23 | 0.13 | 0.14 | 0.3 |
Current Ratio | 1.23 | 1.08 | 1.11 | 1.17 | 1.25 | 1.36 | 1.36 | 1.42 | 1.34 | 1.55 | 1.33 | 1.34 | 1.2 | 1.15 | 1.39 |
Net Current Assets % TA | 7.52 | 2.8 | 4.12 | 6.15 | 8.36 | 10.5 | 10.1 | 11.18 | 9.52 | 12.7 | 8.37 | 8.65 | 5.37 | 4.44 | 9.7 |
Debt Management | 01/31/2021 | 02/02/2020 | 02/03/2019 | 01/28/2018 | 01/29/2017 | 01/31/2016 | 02/01/2015 | 02/02/2014 | 02/03/2013 | 01/29/2012 | 01/30/2011 | 01/31/2010 | 02/01/2009 | 02/03/2008 | 01/28/2007 |
LT Debt to Equity | 10.86 | Equity<0 | Equity<0 | 16.69 | 5.16 | 3.31 | 1.81 | 1.17 | 0.53 | 0.6 | 0.46 | 0.45 | 0.54 | 0.64 | 0.47 |
Total Debt to Equity | 11.29 | Equity<0 | Equity<0 | 18.59 | 5.45 | 3.37 | 1.84 | 1.18 | 0.61 | 0.6 | 0.52 | 0.5 | 0.64 | 0.76 | 0.47 |
Interest Coverage | 14.06 | 14.05 | 15.94 | 14.93 | 14.35 | 15.64 | 21.24 | 13.11 | 14.25 | 11.23 | 10.32 | 5.85 | 5.67 | 11.64 | 26.5 |
Asset Management | 01/31/2021 | 02/02/2020 | 02/03/2019 | 01/28/2018 | 01/29/2017 | 01/31/2016 | 02/01/2015 | 02/02/2014 | 02/03/2013 | 01/29/2012 | 01/30/2011 | 01/31/2010 | 02/01/2009 | 02/03/2008 | 01/28/2007 |
Total Asset Turnover | 2.17 | 2.32 | 2.4 | 2.31 | 2.22 | 2.15 | 2.07 | 1.94 | 1.8 | 1.75 | 1.68 | 1.62 | 1.67 | 1.58 | 1.88 |
Receivables Turnover | 51.97 | 54.69 | 54.76 | 50.83 | 48.41 | 52.62 | 57.88 | 56.59 | 55.72 | 60.59 | 66.55 | 68.55 | 64.08 | 33.96 | 32.42 |
Inventory Turnover | 5.6 | 5.11 | 5.33 | 5.26 | 5.11 | 5.09 | 4.9 | 4.72 | 4.65 | 4.4 | 4.29 | 4.2 | 4.22 | 4.18 | 5.04 |
Accounts Payable Turnover | 13.66 | 14.22 | 14.19 | 14.21 | 13.99 | 14.35 | 14.38 | 14.15 | 14.38 | 14.75 | 14.23 | 13.7 | 13.55 | 11.63 | 13.61 |
Accrued Expenses Turnover | 27.32 | 26.67 | 26.86 | 27.02 | 26.58 | 26.68 | 26.18 | 25.6 | 24.8 | 24.62 | 24.11 | 23.59 | 24.99 | 24.63 | 30.09 |
Property Plant & Equip Turnover | 5.58 | 4.9 | 4.79 | 4.6 | 4.3 | 3.95 | 3.62 | 3.33 | 3.03 | 2.85 | 2.69 | 2.56 | 2.66 | 2.81 | 3.54 |
Cash & Equivalents Turnover | 26.42 | 56.52 | 39.63 | 33 | 39.91 | 45.07 | 45.68 | 35.74 | 32.83 | 55.76 | 69.36 | 68.41 | 148.31 | 145.64 | 130.78 |
Per Share | 01/31/2021 | 02/02/2020 | 02/03/2019 | 01/28/2018 | 01/29/2017 | 01/31/2016 | 02/01/2015 | 02/02/2014 | 02/03/2013 | 01/29/2012 | 01/30/2011 | 01/31/2010 | 02/01/2009 | 02/03/2008 | 01/28/2007 |
Cash Flow per Share | 17.59 | 12.59 | 11.28 | 10.24 | 7.98 | 7.36 | 6.18 | 5.37 | 4.58 | 4.27 | 2.79 | 3.05 | 3.3 | 3.05 | 3.74 |
Book Value per Share | 3.06 | -2.89 | -1.7 | 1.26 | 3.6 | 5.04 | 7.13 | 9.07 | 11.98 | 11.64 | 11.64 | 11.42 | 10.48 | 10.48 | 12.71 |
ratios company
Lowe's Companies Inc (NYS: LOW) | |||||||||||||||
Exchange rate used is that of the Year End reported date | |||||||||||||||
LOW | |||||||||||||||
Profitability Ratios | 01/29/2021 | 01/31/2020 | 02/01/2019 | 02/02/2018 | 02/03/2017 | 01/29/2016 | 01/30/2015 | 01/31/2014 | 02/01/2013 | 02/03/2012 | 01/28/2011 | 01/29/2010 | 01/30/2009 | 02/01/2008 | 02/02/2007 |
ROA % (Net) | 13.57 | 11.61 | 6.65 | 9.92 | 9.27 | 8.09 | 8.38 | 7.01 | 5.93 | 5.38 | 6.04 | 5.44 | 6.93 | 9.61 | 11.87 |
ROE % (Net) | 343.27 | 152.88 | 48.76 | 56.17 | 43.2 | 28.98 | 24.8 | 17.83 | 12.93 | 10.44 | 10.84 | 9.63 | 12.89 | 17.7 | 20.71 |
ROI % (Operating) | 43.48 | 30.78 | 18.86 | 29.35 | 27.11 | 23.94 | 21.99 | 18.36 | 15.16 | 13.2 | 14.62 | 12.93 | 16.19 | 21.98 | 27.17 |
EBITDA Margin % | 11.26 | 10.69 | 7.6 | 10.96 | 11.3 | 10.93 | 11.16 | 10.5 | 10.06 | 9.47 | 10.54 | 10.01 | 11.04 | 12.57 | 13.45 |
Calculated Tax Rate % | 24.6 | 23.87 | 31.82 | 37.2 | 40.53 | 42.39 | 36.9 | 37.76 | 37.55 | 36.72 | 37.73 | 36.88 | 37.39 | 37.73 | 37.88 |
Revenue per Employee | 264245 | 226082 | 238350 | 221960 | 220571 | 219394 | 211945 | 204442 | 206775 | 199177 | 209184 | 198116 | 211190 | 224147 | 224076 |
Liquidity Ratios | 01/29/2021 | 01/31/2020 | 02/01/2019 | 02/02/2018 | 02/03/2017 | 01/29/2016 | 01/30/2015 | 01/31/2014 | 02/01/2013 | 02/03/2012 | 01/28/2011 | 01/29/2010 | 01/30/2009 | 02/01/2008 | 02/02/2007 |
Quick Ratio | 0.28 | 0.06 | 0.05 | 0.06 | 0.05 | 0.07 | 0.06 | 0.06 | 0.09 | 0.16 | 0.16 | 0.14 | 0.08 | 0.07 | 0.12 |
Current Ratio | 1.19 | 1.01 | 0.98 | 1.06 | 1 | 1.01 | 1.08 | 1.16 | 1.27 | 1.28 | 1.4 | 1.32 | 1.15 | 1.12 | 1.27 |
Net Current Assets % TA | 7.69 | 0.34 | -0.78 | 1.92 | 0.08 | 0.22 | 2.3 | 4.34 | 6.36 | 6.5 | 8.45 | 7.2 | 3.76 | 3.03 | 6.39 |
Debt Management | 01/29/2021 | 01/31/2020 | 02/01/2019 | 02/02/2018 | 02/03/2017 | 01/29/2016 | 01/30/2015 | 01/31/2014 | 02/01/2013 | 02/03/2012 | 01/28/2011 | 01/29/2010 | 01/30/2009 | 02/01/2008 | 02/02/2007 |
LT Debt to Equity | 14.38 | 8.5 | 3.95 | 2.65 | 2.24 | 1.51 | 1.08 | 0.85 | 0.65 | 0.43 | 0.36 | 0.24 | 0.28 | 0.35 | 0.28 |
Total Debt to Equity | 15.16 | 9.79 | 4.45 | 2.89 | 2.44 | 1.65 | 1.14 | 0.89 | 0.66 | 0.46 | 0.36 | 0.27 | 0.34 | 0.41 | 0.28 |
Interest Coverage | 11.38 | 9.14 | 6.44 | 10.4 | 9.06 | 9.01 | 9.29 | 8.72 | 8.42 | 8.83 | 10.72 | 10.84 | 13.52 | 24.25 | 33.45 |
Asset Management | 01/29/2021 | 01/31/2020 | 02/01/2019 | 02/02/2018 | 02/03/2017 | 01/29/2016 | 01/30/2015 | 01/31/2014 | 02/01/2013 | 02/03/2012 | 01/28/2011 | 01/29/2010 | 01/30/2009 | 02/01/2008 | 02/02/2007 |
Total Asset Turnover | 2.08 | 1.96 | 2.05 | 1.97 | 1.95 | 1.88 | 1.75 | 1.64 | 1.53 | 1.47 | 1.47 | 1.44 | 1.52 | 1.65 | 1.79 |
Receivables Turnover | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 5228.44 |
Inventory Turnover | 4.09 | 3.82 | 4.04 | 4.14 | 4.27 | 4.19 | 4.07 | 3.94 | 3.92 | 3.94 | 3.82 | 3.74 | 4.01 | 4.28 | 4.44 |
Accounts Payable Turnover | 9.69 | 9.08 | 9.62 | 10.39 | 10.41 | 11.01 | 11.13 | 11.08 | 11.25 | 11.35 | 11.33 | 11.28 | 12.37 | 13.38 | 14.81 |
Accrued Expenses Turnover | 50.07 | 52.37 | 53.48 | 50.3 | 46.34 | 44.72 | 44.58 | 45.76 | 48 | 58.73 | 78.7 | 93.67 | 112.73 | 121.65 | 118.23 |
Property Plant & Equip Turnover | 4.75 | 3.9 | 3.75 | 3.47 | 3.24 | 2.99 | 2.76 | 2.53 | 2.33 | 2.24 | 2.2 | 2.09 | 2.19 | 2.4 | 2.66 |
Cash & Equivalents Turnover | 33.24 | 117.92 | 130.13 | 120.08 | 132.85 | 136.02 | 131.57 | 114.94 | 65.16 | 59.3 | 76.24 | 107.98 | 183.89 | 150.13 | 119.58 |
Per Share | 01/29/2021 | 01/31/2020 | 02/01/2019 | 02/02/2018 | 02/03/2017 | 01/29/2016 | 01/30/2015 | 01/31/2014 | 02/01/2013 | 02/03/2012 | 01/28/2011 | 01/29/2010 | 01/30/2009 | 02/01/2008 | 02/02/2007 |
Cash Flow per Share | 14.81 | 5.54 | 7.66 | 6.05 | 6.28 | 5.17 | 5 | 3.89 | 3.28 | 3.37 | 2.76 | 2.78 | 2.84 | 2.94 | 2.94 |
Book Value per Share | 1.97 | 2.58 | 4.55 | 7.08 | 7.43 | 8.41 | 10.38 | 11.51 | 12.48 | 13.32 | 13.38 | 13.07 | 12.28 | 11.04 | 10.31 |
Compet2
Walmart Inc (NYS: WMT) | |||||||||||||||
Exchange rate used is that of the Year End reported date | |||||||||||||||
WMT | |||||||||||||||
Profitability Ratios | 01/31/2021 | 01/31/2020 | 01/31/2019 | 01/31/2018 | 01/31/2017 | 01/31/2016 | 01/31/2015 | 01/31/2014 | 01/31/2013 | 01/31/2012 | 01/31/2011 | 01/31/2010 | 01/31/2009 | 01/31/2008 | 01/31/2007 |
ROA % (Net) | 5.51 | 6.53 | 3.15 | 4.89 | 6.83 | 7.29 | 8.01 | 7.86 | 8.55 | 8.39 | 9.33 | 8.58 | 8.17 | 8.09 | 7.8 |
ROE % (Net) | 17.32 | 20.22 | 8.87 | 12.67 | 17.19 | 18.15 | 20.76 | 21 | 22.96 | 22.45 | 23.53 | 21.08 | 20.58 | 20.18 | 19.67 |
ROI % (Operating) | 17.37 | 15.84 | 17.23 | 16.48 | 17.85 | 18.38 | 20.51 | 20.41 | 21.73 | 21.85 | 22.16 | 21.82 | 20.98 | 20.96 | 21.29 |
EBITDA Margin % | 6.07 | 6.4 | 4.72 | 5.56 | 6.74 | 6.95 | 7.46 | 7.49 | 7.72 | 7.75 | 7.86 | 7.63 | 7.27 | 7.47 | 7.46 |
Calculated Tax Rate % | 33.35 | 24.43 | 37.36 | 30.42 | 30.27 | 30.31 | 32.2 | 32.87 | 31.01 | 32.56 | 32.2 | 32.35 | 34.19 | 34.2 | 33.56 |
Revenue per Employee | 242445 | 238165 | 233820 | 217540 | 210672 | 219150 | 220750 | 216497 | 212673 | 203159 | 200880 | 194388 | 192618 | 180380 | 183500 |
Liquidity Ratios | 01/31/2021 | 01/31/2020 | 01/31/2019 | 01/31/2018 | 01/31/2017 | 01/31/2016 | 01/31/2015 | 01/31/2014 | 01/31/2013 | 01/31/2012 | 01/31/2011 | 01/31/2010 | 01/31/2009 | 01/31/2008 | 01/31/2007 |
Quick Ratio | 0.26 | 0.2 | 0.18 | 0.16 | 0.19 | 0.22 | 0.24 | 0.2 | 0.2 | 0.2 | 0.21 | 0.22 | 0.2 | 0.16 | 0.2 |
Current Ratio | 0.97 | 0.79 | 0.8 | 0.76 | 0.86 | 0.93 | 0.97 | 0.88 | 0.83 | 0.88 | 0.89 | 0.87 | 0.88 | 0.81 | 0.9 |
Net Current Assets % TA | -1.02 | -6.76 | -7.1 | -9.22 | -4.65 | -2.19 | -0.98 | -3.99 | -5.85 | -3.79 | -3.65 | -4.24 | -3.94 | -6.65 | -3.42 |
Debt Management | 01/31/2021 | 01/31/2020 | 01/31/2019 | 01/31/2018 | 01/31/2017 | 01/31/2016 | 01/31/2015 | 01/31/2014 | 01/31/2013 | 01/31/2012 | 01/31/2011 | 01/31/2010 | 01/31/2009 | 01/31/2008 | 01/31/2007 |
LT Debt to Equity | 0.56 | 0.64 | 0.69 | 0.47 | 0.54 | 0.55 | 0.54 | 0.58 | 0.54 | 0.66 | 0.64 | 0.51 | 0.53 | 0.52 | 0.5 |
Total Debt to Equity | 0.6 | 0.73 | 0.8 | 0.6 | 0.59 | 0.62 | 0.62 | 0.74 | 0.71 | 0.75 | 0.73 | 0.58 | 0.65 | 0.69 | 0.63 |
Interest Coverage | 10.28 | 8.53 | 10.31 | 9.38 | 10.04 | 9.77 | 11.56 | 12.13 | 13.47 | 12.3 | 12.75 | 12.71 | 12 | 12.23 | 13.41 |
Asset Management | 01/31/2021 | 01/31/2020 | 01/31/2019 | 01/31/2018 | 01/31/2017 | 01/31/2016 | 01/31/2015 | 01/31/2014 | 01/31/2013 | 01/31/2012 | 01/31/2011 | 01/31/2010 | 01/31/2009 | 01/31/2008 | 01/31/2007 |
Total Asset Turnover | 2.28 | 2.3 | 2.43 | 2.48 | 2.43 | 2.39 | 2.38 | 2.34 | 2.36 | 2.39 | 2.4 | 2.44 | 2.47 | 2.41 | 2.41 |
Receivables Turnover | 87.13 | 83.39 | 86.48 | 87.4 | 84.57 | 77.75 | 72.19 | 70.85 | 73.65 | 81.07 | 91.38 | 101.43 | 107.02 | 116.66 | 126.74 |
Inventory Turnover | 9.4 | 8.9 | 8.75 | 8.6 | 8.26 | 8.06 | 8.11 | 8.08 | 8.34 | 8.7 | 9.08 | 9 | 8.79 | 8.32 | 8.02 |
Accounts Payable Turnover | 11.6 | 11.14 | 11.04 | 11.43 | 12.13 | 12.54 | 12.81 | 12.62 | 12.53 | 12.74 | 13.18 | 13.77 | 13.66 | 12.96 | 13.04 |
Accrued Expenses Turnover | 25.49 | 25.41 | 24.85 | 23.64 | 23.24 | 23.93 | 24.32 | 23.36 | 23.2 | 23.42 | 21.66 | 20.99 | 22.72 | 23.53 | 23.1 |
Property Plant & Equip Turnover | 5.65 | 5 | 4.85 | 4.65 | 4.45 | 4.3 | 4.23 | 4.15 | 4.19 | 4.16 | 4.12 | 4.24 | 4.33 | 4.23 | 4.32 |
Cash & Equivalents Turnover | 40.99 | 60.97 | 71.06 | 73.46 | 62.23 | 54.05 | 59.17 | 63.24 | 65.3 | 64.1 | 55.14 | 53.78 | 62.99 | 58.54 | 50.58 |
Per Share | 01/31/2021 | 01/31/2020 | 01/31/2019 | 01/31/2018 | 01/31/2017 | 01/31/2016 | 01/31/2015 | 01/31/2014 | 01/31/2013 | 01/31/2012 | 01/31/2011 | 01/31/2010 | 01/31/2009 | 01/31/2008 | 01/31/2007 |
Cash Flow per Share | 12.71 | 8.86 | 9.48 | 9.46 | 10.14 | 8.54 | 8.84 | 7.11 | 7.56 | 7.01 | 6.47 | 6.79 | 5.86 | 5.01 | 4.84 |
Book Value per Share | 28.69 | 26.37 | 25.19 | 26.38 | 25.52 | 25.47 | 25.21 | 23.59 | 23.04 | 20.86 | 19.49 | 18.69 | 16.63 | 16.26 | 14.91 |
Compet3
Exchange rate used is that of the Year End reported date | |||||||||||||||
Profitability Ratios | 12/29/2019 | 12/30/2018 | 12/31/2017 | 01/01/2017 | 01/03/2016 | 12/28/2014 | 12/29/2013 | 12/30/2012 | 01/01/2012 | 01/02/2011 | 01/03/2010 | 12/28/2008 | 12/30/2007 | 12/31/2006 | 01/01/2006 |
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asreported
Powered by Clearbit | |||||||||||||||
Lowe's Companies Inc (NYS: LOW) | |||||||||||||||
Exchange rate used is that of the Year End reported date | |||||||||||||||
As Reported Annual Balance Sheet | |||||||||||||||
Report Date | 01/29/2021 | 01/31/2020 | 02/01/2019 | 02/02/2018 | 02/03/2017 | 01/29/2016 | 01/30/2015 | 01/31/2014 | 02/01/2013 | 02/03/2012 | 01/28/2011 | 01/29/2010 | 01/30/2009 | 02/01/2008 | 02/02/2007 |
Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
Audit Status | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified | Not Qualified |
Consolidated | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Scale | Thousands | Thousands | Thousands | Thousands | Thousands | Thousands | Thousands | Thousands | Thousands | Thousands | Thousands | Thousands | Thousands | Thousands | Thousands |
Cash & cash equivalents | 4690000 | 716000 | 511000 | 588000 | 558000 | 405000 | 466000 | 391000 | 541000 | 1014000 | 652000 | 632000 | 245000 | 281000 | 364000 |
Short-term investments | 506000 | 160000 | 218000 | 102000 | 100000 | 307000 | 125000 | 185000 | 125000 | 286000 | 471000 | 425000 | 416000 | 249000 | 432000 |
Merchandise inventory – net | 16193000 | 13179000 | 12561000 | 11393000 | 10458000 | 9458000 | 8911000 | 9127000 | 8600000 | 8355000 | 8321000 | 8249000 | 8209000 | 7611000 | 7144000 |
Deferred income taxes, net | – | – | – | – | – | – | 230000 | 252000 | 217000 | 183000 | 193000 | 208000 | 166000 | 247000 | 161000 |
Other current assets | 937000 | 1263000 | 938000 | 689000 | 884000 | 391000 | 348000 | 341000 | 301000 | 234000 | 330000 | 218000 | 215000 | 298000 | 213000 |
Total current assets | 22326000 | 15318000 | 14228000 | 12772000 | 12000000 | 10561000 | 10080000 | 10296000 | 9784000 | 10072000 | 9967000 | 9732000 | 9251000 | 8686000 | 8314000 |
Land | 7315000 | 7200000 | 7196000 | 7414000 | 7329000 | 7086000 | 7040000 | 7016000 | 6986000 | 6936000 | 6742000 | 6519000 | 6144000 | 5566000 | 5496000 |
Buildings | – | – | – | – | – | – | – | – | – | – | – | 12069000 | 11258000 | 10036000 | 9655000 |
Buildings & building improvements | 18090000 | 17862000 | 18052000 | 18521000 | 18147000 | 17451000 | 17247000 | 17161000 | 16968000 | 16640000 | 16531000 | – | – | – | – |
Equipment | 10466000 | 10377000 | 10090000 | 10475000 | 10978000 | 10863000 | 10426000 | 10063000 | 9780000 | 9835000 | 9142000 | 8826000 | 8797000 | 8118000 | 7477000 |
Leasehold improvements | – | – | – | – | – | – | – | – | – | – | – | 3818000 | 3576000 | 3063000 | 2476000 |
Construction in progress | 831000 | 506000 | 525000 | 530000 | 464000 | 513000 | 730000 | 834000 | 932000 | 921000 | 930000 | 1036000 | 1702000 | 2053000 | – |
Total cost | 36702000 | 35945000 | 35863000 | 36940000 | 36918000 | 35913000 | 35443000 | 35074000 | 34666000 | 34332000 | 33345000 | 32268000 | 31477000 | 28836000 | 25104000 |
Less: accumulated depreciation | 17547000 | 17276000 | 17431000 | 17219000 | 16969000 | 16336000 | 15409000 | 14240000 | 13189000 | 12362000 | 11256000 | 9769000 | 8755000 | 7475000 | 6133000 |
Property, less accumulated depreciation | 19155000 | 18669000 | 18432000 | 19721000 | 19949000 | 19577000 | 20034000 | 20834000 | 21477000 | 21970000 | 22089000 | 22499000 | 22722000 | 21361000 | 18971000 |
Operating lease right-of-use assets | 3832000 | 3891000 | – | – | – | – | – | – | – | – | – | – | – | – | – |
Long-term investments | 200000 | 372000 | 256000 | 408000 | 366000 | 222000 | 354000 | 279000 | 271000 | 504000 | 1008000 | 277000 | 253000 | 509000 | 165000 |
Deferred income taxes – net | 340000 | 216000 | 294000 | 168000 | 222000 | 241000 | – | – | – | – | – | – | – | – | – |
Goodwill | – | 303000 | 303000 | 1307000 | 1082000 | – | – | – | – | – | – | – | – | – | – |
Other assets | 882000 | 702000 | 995000 | 915000 | 789000 | 665000 | 1359000 | 1323000 | 1134000 | 1013000 | 635000 | 497000 | 460000 | 313000 | 317000 |
Total assets | 46735000 | 39471000 | 34508000 | 35291000 | 34408000 | 31266000 | 31827000 | 3273200
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