03 Jun Financial Statements
The objective of the exercise is to develop the ability to perform a comperhensive analysis on set financial statements. Obtain a copy of the 2014 annual report (10-k) of walmart corporation (year ended January 31, 2015) from http://www.sec.gov.
ONLY GET THE INFORMATION IS FROM THIS WEBSITE : http://www.sec.gov. proper term for the company search box is “Walmart”.
Requirement 1
Evaluate the company’s ability to sell inventory and pay debts during 2014 and 2013. Your analysis should compute the following ratios and then comment on what those ratios indicate. Since the 2014 annual report includes only the balance sheets for 2014 and 2013, you will need to look up the 10-K for 2013 for information about 2012 inventory and accounts payable.
a. Inventory turnover and days’ inventory outstanding (DIO)
b. Accounts payable turnover and days’ payable outstanding (DPO)
c. Cash conversation cycle (DIO-DPO)
d. Current ratio
e. Quick (acid-test) ratio
f. Debt ratio
g. Times interest earned
Reqirement 2
Evaluate walmart cashflow.
a. For 2014, what are Walmart two main sources of cash?
b. For 2014, is Walmart net cash flow from operations greater than or less than net income? What is the primary cause of the difference?
c. For 2014, what is the primary source of cash from investing activities? Is this the same as in 2013 and 2012? If not, state the primary source(s) of cash from investing activites in 2013 and 2012.
d. For 2014, what is the primary source of cash from financing activities? Is this the same as in 2013 and 2012? If not, state the primary source(s) of cash from financing activities in 2013 and 2012.
e. What trend(s) do you detect from this analysis?
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