财务报表分析-星巴克PPT课件

1 2013AnnualReportStarbuckcorporation 2 Chapter1CompanyProfile 3 1 Companyinformation 4 2 Basicsituationintroduction Starbucksisaname achainofAmericanCoffeecompanywasfoundedin1971 istheworld slargestCoffe echainstores theheadquartersislocatedinSeattlecityAmericaWashingtonstate RetailproductsStarbucksincludesmorethan30topglobalCoffeebeans HandmadeallkindsofpastriesfoodconcentrationCoffeeandavarietyofCoffeehotandcolddrinks freshanddeliciousandCoffeemachine avarietyofCoffeecupmerchandise Nearly12000branchesthroughoutNorthAmerica SouthAmerica Europe theMiddleEastandthePacificregionStarbuckshasintheglobalscope 5 3 Otherinformation 6 Chapter2Companyriskdescriptionandfutureplans 7 Starbucksinrecentyears withtherapidexpansionofscaletoreducecostsandothermeasures storelocationdesign stafftraining etcdamagingly moreandmorecustomersfindStarbucksadeclineinthequalityofservice theoriginalexperienceofculturegraduallyfade ScalerapidexpansiondidnotbringStarbucksperformanceandbrandofthesynchronizinglifting endangeritshealthydevelopment Hadtoshutdownoneofsurvivalpressure Starbucksstores redundancy andenergyintoaimedattoimprovethecustomerexperience Starbucks revivalplan 1 Risk 8 2 Plans Contractionfront buildbrandwithscarceplace Todevelopnewproducts Holdingscontinuedtopromotethecompetitivenessoftheservice Interactivemarketing dualexperience Industrycooperation cross sellingsublimationcustomervalue Interweave strengthengroupmarketingwithcustomers 9 Chapter3FinancialAnalysis 10 LiquidityofShort TermAssets Theratioanalysisthroughthefinancialstatementdata abilitycanreflectthecorporateliquidity leverageanddebt soastoletusknowthatthefinancialsituationofenterprisesandfinancialrisk dataareasfollows 11 CurrentRatio 12 Starbucksthreeyearsthisliquidityratioroseafterthefirstdown In2013 theliquidityratioStarbuckswas1 02 thelowestforthreeyears Theabovedata Starbucksshort termdebtpayingabilityhasdeclined Usually highliquidityratiomeanshighliquidity however companiesshouldnotpursuethehighflowrate becauseahighlevelofliquidassetsistheneedtospendmorecost 13 QuickRatio 14 Thisratioisusedtomeasurethecompany sabilitytorepaydebtsquickly Starbucksquickratioislowanddeclining fromthecompany soveralldevelopment thismayberelatedtothegrowthoftheinventory accountsreceivable 15 WorkingCapital 16 Starbucksworkingcapitalfor94 2013 fellby95 7 onthepreviousperiod thisisduetothecurrentliabilitiesin2013andgrewby43 3 lastyear 17 EvaluationofLiquidityofShort TermAssets Theabovecalculationanalysisandaccountingstatements theStarbuckCorpliquidityratio quickratio workingcapitalthanlastyeardecreasedby1 07 0 55 2096 explainedthattheenterpriseshort termdebtpayingabilityhasdeclined reflectingtheStarbuckCorpthecashtopay1yearsmaturingdebtrepayment aseriousshortageofcapacity Thisshowsthatenterprisesneedlong termcapitaltorepayshort termdebt Tosumup theStarbuckCorpshort termdebtpayingabilityisnotstrong thecompanyisbasedonthefinancialstructureofhighrisk highreward ifthebusinessdownturn saysthefirm sleveragedegreeishigh thefinancialstructureisunstable 18 DuPontAnalysis 19 Netinterestrateschangefactoranalysis Equitymultiplierequitymultiplierrisingimpactonnetinterestmargin 2 06 1 64 1 71 10 40 7 47 Totalassetsturnoverrateimpactontheprofitmultipliernetrateof 2 06 1 51 1 71 10 40 4 28 Netsalesdeclineininterestratesonequitymultipliernetrateof 2 06 1 51 0 06 10 40 32 16 20 Accordingtothecalculationresultscanbeseen therateofreturnonequityis29 lowerthanthatofthepreviousyear themainfactoristhe Netsalesfell10 36 thenetinterestratesdecreasedby32 16 Totalassetsturnoverdeclineof 0 2makesthenetinterestratereductionof4 28 Theonlyrightsandinterestsmultiplierrising0 42 sothatthenetinterestratesincreasedby7 47 therefore candeterminetheaccidentbusinessprofitabilityisoutofthequestion 21 Analysisofassetmanagementandprofitability ReturnonTotalAssets 22 ReturnonTotalAssetstothepercentageofthetotalassetsofthecompanynetprofitandaveragetotalassets Theindexreflectsthecompanytousethetotalassetsprofitlevel namelythecompanyeachoccupy1DollarsofassetsaveragecanearnDollarofprofits theindexishigher oftenreflectsthehigherlevelofcompanyofinput output In2013theindexwas0 09 17 69 lowerthanlastyear theStarbuckCorpcostcontrollevelisverypoor 23 ReturnonOperatingAssets 24 Thisindexcanobjectivelyreflecttheabilitytoobtaincashmanagementactivitiesintheprocessofenterpriseintheuseofassets andfurtherreflectstheutilizationefficiencyofassets Thehighertheratio themoreeffectivethebusinessactivitiesofenterprises Fromthecalculatingresults in2013theindexof 2 2 40 6 lowerthan2012years theutilizationefficiencyofassetshasdeclined inthebusinessactivitiesofenterpriseshasdeclined themainreasonisthatoperatingincomedifferenceistoobig 25 SalestoFixedAssets 26 Intheenterprise salesincomemainlydependsonthelevelofproductionmanagementandsales Investmentinfixedassetsandsalesrevenueshouldbeamoveinthesamedirectionchanges theindexreflectsthefixedrateofreturnonassets In2013fellby4 52 comparedwith2012 explainedthattheenterprisefixedassetreturnsdecline 27 Analysisofcapitaloperationandprofitability ReturnoncommonEquity 28 RateofreturnonequityisthecorecontentofDuPontAnalysisinfigure itrepresentsinvestorsnetassetsprofitability constantvalueofnetassetsistheultimategoaloffinancialmanagement itreflectsthefinalresultsofthebusinessactivitiesofenterprises Itisacomprehensivereflectionofenterprisefinancingefficiencyanduseofcorporateassets theindexfromtheordinaryshareholdersperspectivereflectstheprofitabilityofenterprises theindexvalueishigher thestrongerprofitability Enterprisesin20112therateofreturnoncommonstockequityof14 58 higherthantheindu