财务报表分析-星巴克

Current liabilities［B］ Acid-Test ratio ［A÷B］
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This ratio is used to measure the company's ability to repay debts quickly, Starbucks quick ratio is low and declining, from the company's overall development, this may be related to the growth of the inventory, accounts receivable.
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①Current Ratio
Current Ratio Years Ended May 31,2013 and 2011 (In millions) Current assets［A］ Current liabilities［B］ Current radio ［A÷B］ 2,013 2,012 2,011 3,795.00 2,076.00 1.83 5,471.00 4,200.00 5,377.00 2,210.00 1.02 2.09
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Starbucks three years this liquidity ratio rose after the first down. In 2013, the liquidity ratio Starbucks was 1.02, the lowest for three years. The above data, Starbucks short-term debt paying ability has declined. Usually, high liquidity ratio means high liquidity, however, companies should not pursue the high flow rate, because a high level of liquid assets is the need to spend more cost.
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Fra Baidu bibliotek
③Working Capital
Working Capital Years Ended May 31,2013and 2011 (In millions) Current assets［A］ Current liabilities［B］ Working Capital［A-B］ 2013 2012 5471 4200 5377 94 2210 2190 2011 3795 2076 1719
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2.Plans
⑴Contraction front, build brand with scarce place; ⑵To develop new products;
⑶Holdings continued to promote the competitiveness of the service;
⑷Interactive marketing, dual experience;
⑸Industry cooperation, cross-selling sublimation customer value;
⑹Interweave, strengthen group marketing with customers.
Net profit Margin
2.06 1.51
1.64 1.71
0.42 -0.2
-10.34%
0.06% 10.40%
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•Net interest rates change factor analysis
•Equity multiplier equity multiplier rising impact on net interest margin=（2.06-1.64） ×1.71×10.40%=7.47% •Total assets turnover rate impact on the profit multiplier net rate of =2.06×(1.51-1.71) ×10.40%=-4.28% •Net sales decline in interest rates on equity multiplier net rate of =2.06×1.51×(0.06%-10.40%) =-32.16%
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②Quick Ratio
Quick Ratio Years Ended May 31,2013 and 2011 In millions 2013 3795 5377 0.71 2012 2523 2210 1.14 2011 2437 2076 1.17
Remaining current assets［A］
Established time
Business scope
1971
Coffee
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2.Basic situation introduction
• Starbucks is a name, a chain of American Coffee company was founded in 1971, is the world's largest Coffe • e chain stores, the headquarters is located in Seattle city America Washington state. Retail products Starbucks includes more than 30 top global Coffee beans, Handmade all kinds of pastries food concentration Coffee and a variety of Coffee hot and cold drinks, fresh and delicious and Coffee machine, a variety of Coffee cup merchandise. Nearly 12000 branches throughout North America, South America, Europe, the Middle East and the Pacific region Starbucks has in the global scope.
2013 Annual Report Starbuck corporation
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Chapter 1 Company Profile
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1.Company information Name
Name abbreviation Headquarters location
Starbuck
SBUX Seattle
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Evaluation of Liquidity of Short –Term Assets
The above calculation analysis and accounting statements, the Starbuck Corp liquidity ratio, quick ratio, working capital than last year decreased by 1.07, 0.55, 2096, explained that the enterprise short-term debt paying ability has declined, reflecting the Starbuck Corp the cash to pay 1 years maturing debt repayment, a serious shortage of capacity. This shows that enterprises need long-term capital to repay short-term debt. To sum up, the Starbuck Corp short-term debt paying ability is not strong, the company is based on the financial structure of high risk, high reward, if the business downturn, says the firm's leverage degree is high, the financial structure is unstable.
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Chapter 2 Company risk description and future plans
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1.Risk
•Starbucks in recent years, with the rapid expansion of scale to reduce costs and other measures, store location design, staff training, etc damagingly, more and more customers find Starbucks a decline in the quality of service, the original experience of culture gradually fade. Scale rapid expansion did not bring Starbucks performance and brand of the synchronizing lifting, endanger its healthy development. Had to shut down one of survival pressure, Starbucks stores, redundancy, and energy into aimed at to improve the customer experience "Starbucks" revival plan.
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Starbucks working capital for 94, 2013, fell by 95.7% on the previous period, this is due to the current liabilities in 2013 and grew by 43.3% last year.
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Chapter 3 Financial Analysis
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⑴ Liquidity of Short –Term Assets
• The ratio analysis through the financial statement data, ability can reflect the corporate liquidity, leverage and debt, so as to let us know that the financial situation of enterprises and financial risk, data are as follows:
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3.Other information
Stock code Total number of H Share Chairman Board of director 04337 730600000 Howard Schultz Howard Schultz、Orin C Smith、 Barbara Bass、Howard Behar、 William W. Bradley、Craig J. Foley、 Olden Lee、Gregory B. Maffei、 Arlen I. Prentice、James G. Shennan Jr、Myron E. Ullman III、 Craig E. Weatherup
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⑵ Du Pont Analysis
Profitability Measures Project ROE Return on Total Assists 2013 2012 Change -10.36% -17.69%
0.06% 10.42% 0.09% 17.78%
Equity Multiplier Total Asset Turnover