Analysis FS Revision
Analysis FS Revision
liabilities
current liabities
short-term bank loans 19,753,245 20,561,189
trade payables, third parties 1,091,412 2,349,264
related parties 26,545 21,075
taxes payable 308,852 556,163
value added tax payable 7,114 -
accrued expenses 160,811 211,745
other current liabilities 290,586 345,650
total current liabilities 21,638,565 24,045,086
equity
share capital, rp 500 par 962,044 962,044
capital paid in excess of par 53,700 53,700
diffence from transaction with
non controlling interest (16,168) (15,250)
retained earnings
appropiated 200,000 200,000
unappropiated 38,287,441 36,699,588
equity attributable to owners 39,487,017 37,900,082
of the company
non-controlling interest 77,211 107,827
total equity 39,564,228 38,007,909
392,462 1.95%
40,297 45.68%
(93,191) -90.38%
(258,089) -40.38%
81,479 0.39%
(553,779) -0.87%
(807,944) -3.93%
(1,257,852) -53.54%
5,470 25.95%
(247,311) -44.47%
7,114 0.00%
(50,934) -24.05%
(55,064) -15.93%
(2,406,521) -10.01%
262,983 23.60%
33,440 9.89%
296,423 20.41%
(2,110,098) -8.28%
- 0.00%
- 0.00%
(918) 6.02%
- 0.00%
1,587,853 4.33%
1,586,935 4.19%
(30,616) -28.39%
1,556,319 4.09%
liabilities
current liabities
short-term bank loans 19,753,245 20,561,189 31.38%
trade payables, third parties 1,091,412 2,349,264 1.73%
related parties 26,545 21,075 0.04%
taxes payable 308,852 556,163 0.49%
value added tax payable 7,114 - 0.01%
accrued expenses 160,811 211,745 0.26%
other current liabilities 290,586 345,650 0.46%
total current liabilities 21,638,565 24,045,086 34.37%
equity
share capital, rp 500 par 962,044 962,044 1.53%
capital paid in excess of par 53,700 53,700 0.09%
diffence from transaction with
non controlling interest (16,168) (15,250) -0.03%
retained earnings
appropiated 200,000 200,000 0.32%
unappropiated 38,287,441 36,699,588 60.82%
4.29%
2.47% 1829024
58.67% 37400575
0.71%
0.49%
0.41%
67.03%
31.66%
0.14%
0.16%
1.01%
32.97%
100.00%
32.38%
3.70%
0.03%
0.88%
0.00%
0.33%
0.54%
37.86%
1.75%
0.53%
2.29%
40.15%
1.51%
0.08%
-0.02%
0.31%
57.79%
59.68%
0.17%
59.85%
100.00%
37,428,228
PT Gudang Garam Tbk
Comparative Balance Sheet
December 31,2016 and December 31,2015
2016 2015 2016 2015
Revenue 76,274,147 70,365,573 100.00% 100.00%
Cost of sales 59,657,431 54,879,962 78.21% 77.99%
Gross profit 16,616,716 15,485,611 21.79% 22.01%
Other income 161,286 124,999 0.21% 0.18%
Operating expenses 6,644,400 5,579,370 8.71% 7.93%
Other expenses 13,515 38,436 0.02% 0.05%
Foreign exchange gain, net 1,951 72,063 0.00% 0.10%
Operating profit 10,122,038 10,064,867 12.84% 13.74%
Interest expense 1,190,902 1,429,592 1.56% 2.03%
Profit before income tax 8,931,136 8,635,275 11.28% 11.71%
Income tax expense 2,258,454 2,182,441 2.96% 3.10%
Profit 6,672,682 6,452,834 8.32% 8.61%
500
6,672,182
FINANCIAL RATIO ANALYSIS
1 Current Ratio
2011
Current Assets 41,933,173
Current Liabilities 21,638,565
= 1.94
the current ratio of GG showed 1:1, meaning book value of current assets is exa
it is in a better position to meet short-term liabilities with short-term assets
2011
Cash + MS + AR 3,685,069
Current Liabilities 21,638,565
= 0.17
As you can see GGs' quick ratio is 0.17. This means that GG, Can not pay off all
with quick assets.
2011
Current Liabilities 21,638,565
Inventory 37,545,222
= 0.58
As you can see GGs' Current debt to inventoy ratio is less than 1 . This shows th
Nordstrom,inc can pay off all of the current liabilities with firms inventory sales
1 Inventory Turnover
This means that there would be 2 inventory turns per year. That is a company w
= 2.04
the $37,400,575 average monthly inventory generated sales equivalent to 2.04 tim
The higher the ratio, the better the efficiency.
3 Receivable Turnover
Sales 76,274,147
Average Receivables 1,829,024
365 365
AR Turnover 42
accounts receivable turned over 41 times during the past year, which means tha
In other words, when GGs' makes a credit sale, it will take 8 days to collect the c
C. Profitability
= 8.75%
net profit margin decreased in Year 2016. Notice that in terms of dollar amount,
Hence in terms of managing costs and expenses, the company did better in Yea
2 Net Profit to Net Working Capital
2008
Net Income 6,672,682
Net working Capital 20,294,608
= 32.88%
= 12.44%
GGs' ratio is 12.44 percent. In other words, every dollar of GG invested in assets
Depending on the economy, this can be a healthy return rate no matter what the
This means that every dollar of common shareholder’s equity earned about $17.
a higher return on common stockholders’ equity ratio indicates high profitability
financial position of the company and can covert potential investors into actual commo
D. Stability or Balance of Equity Structure
2008
Total Liabilities 23,387,406
Total Equity 39,564,228
= 0.59
The Debt to Equity ratio 0.59, this means the amount of debt is 0.59 times more t
Companies with a higher debt to equity ratio are considered more risky to credit
As we can see, GG has a ratio of 8. This means that GGs' income is 8 times grea
In other words, GG can afford to pay additional interest expenses. In this respec
shouldn’t have a problem accepting the loan.
2010
42,568,431
24,045,086
: 1 1.77 : 1
2010
4,293,989
24,045,086
: 1 0.18 : 1
2010
24,045,086
37,255,928
: 1 0.65 : 1
ess than 1 . This shows that GGs' is less leveraged and less risk.
with firms inventory sales
= 2 times
= 228.83 days to sell
entire inventory
ear. That is a company would take 6 months to sell and replace all inventories.
: 1
sales equivalent to 2.04 times its value. its means it not bad to firms.
= 41.70 times
= 8.75 days
ast year, which means that the average account receivable was collected in 8 days
ake 8 days to collect the cash from that sale.
2007
6,452,834
70,365,573
= 9.17%
= 34.84%
2007
25,497,504
38,007,909
: 1 0.67 : 1
= 8.50 times