This document analyzes financial ratios for Apple from 2013-2014. It calculates ratios in five categories: liquidity, leverage/solvency, turnover/activity, profitability, and efficiency. The ratios show that Apple's liquidity decreased from 2013-2014 while its debt levels and profitability increased slightly. Key metrics include a current ratio of 1.08 in 2014, days accounts payable of 0.001187309, and return on equity of 0.354. Overall the analysis indicates that Apple's financial position remained strong from 2013-2014.

2. Introduction Financial Statement Ratio Analysis Profitability Analysis Conclusion

7. 2015/09 2014 2013 2012
Balance sheet

8. 2015/09 2014 2013 2012
Balance sheet

9. 2015/09 2014 2013 2012Income statement

10. 2015/09 2014 2013 2012Cash Flow

11. Ratio
Analysis
Liquidity
Leverage/
Solvency
Turnover/
Activity
Profitability

13. Current Asset : Current Liabilities
2013 2014
Current Asset 73,286,000 68,531,000
Current Liabilities 43,658,000 63,448,000
Current Ratio 1.67 1.08
Here, it shows that the firm has 1.08 which is not quite satisfactory
and can be improved by better turnover and profit and also by
decreasing liabilities
Apple can pay 108 % of its liability

14. (cash + short-term marketable securities + accounts
receivable) ÷ current liabilities
2013 2014
Cash & cash equivalents 64,640,000 56,614,000
Current Liabilities 43,658,000 63,448,000
Quick Ratio 1.48 0.89
A quick ratio of 89% means that a company has $0,89 of liquid
assets available to cover each $1 of current liabilities. The higher the
quick ratio, the better the company's liquidity position.
Ability to pay 89 %

15. (cash + short-term marketable securities )
÷ current liabilities
2013 2014
cash + short-term marketable
securities
40,546,000 25,077,000
current liabilities 43,658,000 63,448,000
Cash Ratio 0.928 0.395
The cash ratio is generally a more conservative look at a
company's ability to cover its liabilities than many
other liquidity ratios.
Apple can pay 39.5% of its current liabilities using cash

17. 2013 2014
Total Liabilities 83,451,000 120,292,000
Total Assets 207,000,000 231,839,000
Debt-to-assets Ratio 0.4031 0.5188
total liabilities ÷ total assets
>0.5 indicates that equity position by Apple is less than 50%
From the above 51,8% of Apple Inc assets have been financed by debt,
Apple Inc in 2014 has a much higher degree of leverage than in 2013.

18. 2013 2014
Total liability 123,549,000 111,391,000
Total equity 163,342,000 168,391,000
Debt-assets Ratio 0.675 0.673
(Total liability :Total equity)
67.3% assets of Apple are financed by equity

19. Income from operations(EBIT) ÷ interest expenses
2013 2014
EBIT 48,999,000 52,503,000
Interest expenses 0 0
Interest-coverage-ratio Ratio 48,999,000 52,503,000
Interest expense is zero.
High ratio, high strength.

21. cost of goods sold ÷ average inventory
2013 2014
Cost of goods sold 106,606,000 112,258,000
Average inventory 1,277,500 987,500
Inventory Turnover 83.44 57.94
Measures how fast the company turns over its inventory within
a year.

22. Sales ÷ AverageTotal Assets
2013 2014
Net Sales 170,910,000 182,795,000
Average total assets 191,532,000 219,419,500
Asset-turn-over Ratio 0.8923 0.8330
The AssetTurnover ratio can often be used as an indicator of
the efficiency with which a company is deploying its assets in
generating revenue. Generally speaking, the higher the asset
turnover ratio, the better the company is performing.

23. Accounting payable ÷ Cost of sales * Days in Period
2013 2014
Accounting payable 36,223,000 48,649,000
Cost of sales * days in period 39,017,796,000 40,974,170,000
Days-accounts-payable Ratio 0.0009283712 0.001187309
Days Accounts Payable indicates the number of days that the
accounts payable relative to cost of goods sold the company
has.
Delays in paying to suppliers .

25. Net income ÷ Net revenue
2013 2014
Net income 37,037,000 39,510,000
Net revenue 106,606,000 112,258,000
Net-profit-margin 0.347 0.351
35.1% - translates sales into earning.

27. 2013 2014
Net income 37,037,000 39,510,000
Total assets 207,000,000 231,839,000
ROA 0.17 0.15
Net income ÷Total Assets
An indicator of how profitable a company is relative to its total assets. ROA
gives an idea as to how efficient management is at using its assets to
generate earnings.
Assets contribution towards making profit is 15 %

29. 2013 2014
Net income 37,037,000 39,510,000
T.Stockholder’s equity 123,549,000 111,547,000
Roe 0.299 0.354
Net income ÷ total stockholder’s equity
Return on equity measures a corporation's profitability by
revealing how much profit a company generates with the
money shareholders have invested.