This document is a financial ratio analysis report on Walmart from 2012-2013 prepared by Sharon Chow Ci Yung and Lee Pui Sun. It provides a brief history of Walmart, analyzes various profitability ratios to evaluate Walmart's financial performance, and ultimately recommends against investing in Walmart due to concerns around managing costs, financial stability, and share price.
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In this Closer Look, we examine the tensions between corporate culture, financial incentives, and employee conduct as illustrated by the Wells Fargo cross-selling scandal. In 2016, Wells Fargo admitted that employees had opened as many as 2 million accounts without customer authorization over a five-year period. We discuss the factors that contributed to the scandal, the repercussions for the bank, and its response.
We ask:
• How did the company’s incentive system contribute to the scandal?
• Would the system have worked better if coupled with additional metrics or controls?
• What systems should have been put in place to identify and escalate potential problems earlier?
• What steps should senior management have taken to better contain the fallout?
• Is an inside or outside CEO successor better positioned to help the bank recover?
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ANALYSIS OF FINANCIAL PERFORMANCE OF THOMAS COOK (INDIA) LTD. USING RATIO ANA...Anirban Chakraborty
ANALYSIS OF FINANCIAL PERFORMANCE OF THOMAS COOK (INDIA) LTD. USING RATIO ANALYSIS
This study gives in detail the analysis of various financial ratios based upon the past as well as
the present performance of Thomas Cook (India) Ltd. expressed in financial data. Based upon
the results from these financial ratios conclusions are driven out that whether the company has
been earning profits or not and also that how much it has used these results in its growth. So, the
company can also manage each of its current assets namely cash management, accounts
receivable management and also its liabilities like creditors, loans, bills payables etc. so that it
can maintain an identical financial ratio for each of its business aspects like solvency ratios,
turnover ratios, profitability ratios etc.
We have picked up HUL balance sheets of years from ACE-Equity and applied some ratio analysis to analyze the trend and predict next year results of the company.
Wells Fargo is one of the largest banking and financial service providers in the US. However, the company has recently been accused of staggering fake accounts scam, which has put the company in deep trouble. Find the details about the scandal and the SWOT analysis of the company in this presentation.
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This document a short presentation of the AIG SCANDAL that happened in 2005.
One of the most serious financial crises of 2000s was seen in the collapse of the insurance giant American International Group (hereinafter referred to as ‘AIG’). AIG is a global company holding the assets worth $1 trillion approximately. AIG was caught in a scandal (American International Group Scam) for fraudulent accounting with the help of General Reinsurance Corporation (hereinafter referred as ‘GRC’). The company declared the loss of revenue by $60 million approximately which also led to a drop in its stocks in the New York Stock Exchange as it was seen as a measure of the falling financial health of the company. To rescue the situation, AIG sought help from the GRC. GRC created two sham transactions of $250 million each to boost the losses in revenue of AIG. These two transactions helped to cover up the losses as AID need not mention the amount in its income statement as no actual risk was transferred but they mentioned the $500 million in their premium revenue which made up the loss reserves to pay claims. As a result of this, there was a false increase in the loss reserves as well as in their total increase for the year 2000 and 2001. For the next five years, at least, AIG crated misleading account statements to deceive investors, regulators and policyholders into believing that the company is running into usual and sometimes exceptional profits.This came into catch when the Attorney General’s office and the Insurance Department started investigating against the malpractices of AIG in the year 2004. Soon after, the U.S. Securities and Exchange Commission (hereinafter referred to as ‘SEC’) joined the investigation accusing AIG of fraud. The officers of the company who provided for this fraud did not face any criminal charges whereas the AIG had to pay a penalty of $1.64 billion to SEC.
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Walmart’s GreenwashHow the company’s much-publicized susta.docxmelbruce90096
Walmart’s Greenwash
How the company’s much-publicized
sustainability campaign falls short, while its
relentless growth devastates the environment.
Stacy Mitchell
March 2012
www.ilsr.org2 | Walmart’s Greenwash
About the Institute for Local Self-Reliance
The Institute for Local Self-Reliance (ILSR) is a 38-year-old national nonprof-
it research and educational organization. ILSR’s mission is to provide inno-
vative strategies, working models and timely information to support strong,
community rooted, environmentally sound and equitable local economies.
To this end, ILSR works with citizens, policymakers and businesses to de-
sign systems, policies and enterprises that meet local needs; to maximize
human, material, natural and financial resources; and to ensure that the
benefits of these systems and resources accrue to all local citizens. More at
www.ilsr.org.
About the author
Stacy Mitchell is a senior researcher with the Institute for Local Self-Reli-
ance, where she directs initiatives on banking and independent business.
She has written for a variety of publications, including Business Week, Grist,
and The Nation. Her book, Big-Box Swindle, was named one of the top-ten
business books of 2007 by Booklist. Contact her at [email protected] or via
Twitter @stacyfmitchell.
Other ILSR Publications
Democratizing the Electricity
System: A Vision for the 21st
Century Grid
by John Farrell, June 2011
Publicly Owned Broadband
Networks: Averting the Looming
Broadband Monopoly
by Christopher Mitchell, March 2011
A New Deal for Local Economies
by Stacy Mitchell, December 2009
The Benefits of North Dakota’s
Pharmacy Ownership Law
by Justin Dahlheimer and Stacy
Mitchell, January 2009
Major Flaws Uncovered in Study
Claiming Wal-Mart Has Not Harmed
Small Business
by Stacy Mitchell, December 2008
Big-Box Swindle
by Stacy Mitchell, Beacon Press,
2007
This report is licensed under a Creative Commons li-
cense. You are free to replicate and distribute it, as long
as you attribute it to ILSR and do not use it for commer-
cial purposes.
www.ilsr.org3 | Walmart’s Greenwash
CONTENTS
4 .......... Walmart by the Numbers
5 ..........Introduction: Sustainability as a Growth
Strategy
7 ........... Shoddier Products: How Walmart Speeds
the Flow of Goods from Factory to Landfill
10 ......... Walmart’s Minimal Progress on Renewable
Energy
12 ......... What Happened to Walmart’s Promised
Green Product Rankings?
15 ......... Sprawl: Walmart Ignores Its Biggest Climate
Impact
18 ......... Walmart Spends Big to Help Anti-
Environment Candidates
21 ........ Walmart’s Takeover and Transformation of
Our Food System
25 ........ Conclusion: Four Ways to Hold Walmart
Accountable
www.ilsr.org4 | Walmart’s Greenwash
Walmart by the Numbers
Walmart’s sustainability campaign has helped improve its public image, en-
abling the company to grow bigger and faster. That growth, ironically, has
dramaticall.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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• Three (3) key tips to maintain a disciplined workplace.
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1. Page |1
Financial Ratio Analysis
Basic Accounting (FNBE0145)
Assignment 1
Sharon Chow Ci Yung (0313387)
Lee Pui Sun (0314584)
Report content
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
2. Page |2
Brief history of Walmart
3–6
Profitability Analysis of Wal-Mart
7–8
(Year 2012 – 2013)
P/E Ratio
9
Investment Recommendation
10
Appendix
11-15
References
16-17
Brief History of Walmart
Founder of Walmart
Sam Walton was the founder of Walmart. He was born in 1918 in Kingfisher,
Oklahoma. He made the products low in prices to save the living cost of his customers.
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
3. Page |3
He had become famous in the market. He died in 1992, after receiving the Medal of
Freedom.
Origin of Walmart
It was in Roger, Arkansas. The store was called the Wal-Mart Discount City store and
located at 719 West Walnut Street.
1960’s
The first Walmart store had been opened by Sam Walton in Roger, Ark. The Walton
family owned 24 stores, and made $12.7 million in his Walmart sales. Then, the
company has formally comprised as Wal-Mart Stores, Inc.
1970’s
Walmart had become a widely traded company. The company had sold their first
stock at $16.50 per share. Walmart also opened the first distribution center and Home
Office in Bentonville, Ark. Walmart had been included on the New York Stock
Exchange, and they owned 51 stores that had already recorded sales of $78 millions.
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
4. Page |4
Sam Walton introduced the Walmart career to a Korean manufacturing facility due to
their inspiration from them. Then, Walmart Foundation has been set up.
1980’s
Walmart had become the fastest company that reached $1 billion in annual sales (276
stores, 21000 employees). Sam’s Club was opened in Midwest City, Okla. To fulfil the
promise to associates after the company had got a pre-tax profit of 8% for the previous
fiscal year, Sam Walton did a hula on Wall Street. Walmart installed the largest private
satellite communication system in the U.S., linking the company's operations through
voice, data and video communication. The first Walmart Supercenter opened in
Washington, and David Glass had promoted as CEO.
1990’s
Walmart went global, opening a Sam’s Club in Mexico City through a joint venture
with Cifra (Mexican Retail Company). They received the Medal of Freedom, and Sam
Walton declaimed the company’s mission of saving people money. Walmart expanded
into Canada with the purchase of 122 Woolco stores. They had also opened one in
China.
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
5. Page |5
2000’s
Walmart made a shopping online in U.S. They made a major commitment to
environmental sustainability, announcing goals to create zero waste use only renewable
energy and sell products that sustain people and the environment. The first store of
Walmart had been opened in India. They had also started a global commitment to
sustainable agriculture. Walmart surpassed 10,000 retail units around the world.
Walmart had the first Walmart Express stores in Arkansas. Walmart celebrated 50 years
of helping people save money.
Walmart’s Logo Timeline
1962 – 1968
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
6. Page |6
1968 – 1981
1981 – 1992
1992 – 2008
2008 – Present
Profitability Analysis of Walmart (Year 2012-2013)
Profitability Ratio
2012
2013
Interpretation
Return on Equity
(24398/73504)x100%
(25737/76749.5)x100%
(ROE)
=33.19%
=33.53%
During the 2012-2013 period,
the ROE increased from
33.19% to 33.53%. This
means the business is making
a higher return on its
investment.
Net Profit Margin
(24398/443854)x100%
(25737/466114)x100%
FNBE JAN INTAKE 2013
During the 2012-2013 period,
NPM increased from 5.5% to
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
7. Page |7
(NPM)
=5.5%
=5.52%
5.52%. This means the
business is getting better in
controlling its overall
expenses.
Gross Profit Margin
(26558/443854)x100%
(27801/466114)x100%
(GPM)
=5.98%
=5.96%
During the 2012-2013 period,
GPM decreased from 5.98% to
5.96%. This means the
business is getting worse in
managing its cost of goods
sold (COGS).
Selling Expense Ratio
(SER)
(28422/443854)x100%
(29625/466114)x100%
=6.40%
=6.36%
General Expense
Ratio (GER)
(28422/443854)x100%
(29625/466114)x100%
=6.40%
=6.36%
Financial Expense
Ratio (FER)
(28422/443854)x100%
(29625/466114)x100%
=6.40%
=6.36%
Working Capital
(59940/71818): 1
(54975/62300):1
=0.83:1
=0.88:1
(121367/203105)x100%
(117645/193406)x100%
=59.76%
=60.83%
Total Debt
FNBE JAN INTAKE 2013
During the 2012-2013 period,
the SER decreased from
6.40% to 6.36%. This means
the business is getting better in
controlling its selling expense.
During the 2012-2013 period,
the SER decreased from
6.40% to 6.36%. This means
the business is getting better in
controlling its general expense.
During the 2012-2013 period,
the SER decreased from
6.40% to 6.36%. This means
the business is getting better in
controlling its financial
expense.
During the 2012-2013 period,
the working capital of the
business increased from 0.83:1
to 0.88:1. This means the
business’ ability to pay off
current liabilities with current
assets is getting better.
However, it does not satisfy
the minimum 2:1 ratio.
During the 2012-2013 period,
the total debt of the business
increased from 59.76% to
60.83%. This means the total
debt of the business has
increased. In addition, its debt
level is higher than the 50%
limit.
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
8. Page |8
Stock Turnover
=42.13 day
365/(466114/6352.5)
366/(443854/5513)
=4.97days
=4.55 days
2064+25737
2160+24398
2064
Interest Coverage
366/(335127/38575.5)
=43.76 days
Debtor Turnover
365/(322488/42258.5)
2160
=13.47 times
=12.30 times
During the 2012-2013 period,
the stock turnover decreased
from 43.76 days to 42.13 days.
This means it takes less time to
sell its stock.
During the 2012-2013 period,
the debtor turnover decreased
from 4.97 days to 4.55 days.
This means it takes less time to
collect debt from its debtors.
During the 2012-2013 period,
the interest coverage decreased
from 13.47 times to 12.30
times. This means the
business’ ability to pay back
the interest is getting worse.
However, it did satisfy the
minimum ratio of 5 times.
P/E Ratio
=
=
=15.72 times
Walmart’s current share price is $79.25 per share. It’s earning per share for the year
2013 is $5.04. This means Walmart’s price/earning ratio is 15.72 ($79.25/$5.04).
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
9. Page |9
Therefore, if an investor invested on Walmart by buying its shares, the investor will
need to wait for 15.72 years to recoup his investment.
Investment Recommendation
During the 2012-2013 period, Walmart’s Gross Profit Margin decreased from 5.98% to
5.96% which means it is getting worse in managing its cost of goods sold. Although
during the 2012-2013 period Walmart’s Working Capital increased from 0.83:1 to 0.88:1
but it still does not satisfy the minimum 2:1 ratio. Moreover, Walmart’s total debt
increased from 59.76% to 60.83% which means its total debt has increased and
exceeded the 50% limit.
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
10. P a g e | 10
On the other hand, Walmart’s price/earning ratio is 15.72 ($79.25/$5.04). A
conservative investor will normally pay no more than price/earning of 15 for a share that
he or she likes and Walmart’s is higher than 15.
To conclude, although Walmart does demonstrate good financial profitability but it is
not financially stable and its shares are not available at a cheap price. Therefore, it
would not be wise to invest on Walmart.
Appendix
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
11. P a g e | 11
Figure 1.0 Walmart’s P&L Statement for the year 2012
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
12. P a g e | 12
Figure 1.1 Walmart’s Balance Sheet for the year 2012
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
13. P a g e | 13
Figure 1.2 Walmart P&L Statement for the year 2013
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
14. P a g e | 14
Figure 1.3 Walmart’s Balance Sheet for the year 2013
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
15. P a g e | 15
Figure 1.4 Walmart‘s net income per common share for the year 2013
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
16. P a g e | 16
References
Arlan, J., (2010, July 6). $100,000 Walmart Grand Opportunity. Retrieved on 19th,
November, 2013 from http://www.regionalfoodbank.org/Food-Bank-Blog/tag/oklahoma/
Frank, T.A., (2006, April 1). A Brief History Of Wal-Mart. Retrieved on 24th, October,
2013, from http://www.corpwatch.org/article.php?id=13796
Hayes, T. C., (1992, April 6). Sam Walton Is Dead At 74; the Founder Of Wal-Mart
Stores. Retrieved on 19th, November, 2013 from
http://www.nytimes.com/1992/04/06/us/sam-walton-is-dead-at-74-the-founder-of-walmart-stores.html?pagewanted=all&src=pm
Shiling, C. G., (2011, October 7). Social Media and the NLRB (Part 3): Discipline and
Discharge – The Breadth of Concerted Activity. Retrieved on 2nd, November, 2013, from
http://blog.mclane.com/?p=768
Unknown. Wal-Mart; Sam Walton. Retrieved on 31st, October, 2013, from
http://corporate.walmart.com/our-story/heritage/sam-walton
Unknown, Wal-Mart; Annual Reports. Retrieved on 1st, November, 2013, from
http://stock.walmart.com/annual-reports
Unknown, 50 years of helping customers save money and live better. Retrieved on 1st,
November, 2013, from http://www.walmartstores.com/sites/annualreport/2012/WalMart_AR.pdf
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun
17. P a g e | 17
Unknown, Wal-Mart Stores Inc. (WMT). Retrieved on 20th, November, 2013, from
http://finance.yahoo.com/q?s=WMT
FNBE JAN INTAKE 2013
Names of group members: Sharon Chow Ci Yung, Lee Pui Sun