SEARS CORP

Cifras en USD Millones 2010 2011 2012 2013

Estado de Resultados Histórico - - - -

Ingresos 43,360 42,664 41,567 39,854

Costo de Ventas (31,374) (31,000) (30,836) (29,305)
Utilidad Bruta 11,986 11,664 10,731 10,549
Gastos de Administración y Ventas (11,319) (11,227) (12,232) (11,387)
Utilidad Operacional 667 437 (1,501) (838)
Ingresos Financieros 5 32 4 94
Gastos Financieros (248) (293) (289) (267)
Otros No Operacionales (78) (16) 15 125
Utilidad Antes de Impuestos 346 160 (1,771) (886)
Provisión de Impuestos (111) (27) (1,369) (44)
Utilidad Neta Final 235 133 (3,140) (930)

Modulo de Análisis de Datos

SEARS CORP

Cifras en USD Millones 2010 2011 2012 2013

Balance General Histórico - - - -
Caja 1,689 1,359 747 609
Cuentas por Cobrar 652 689 695 635
Inventarios 8,705 8,951 8,407 7,558
Otros Activos Corrientes 392 561 395 463
Total Activos Corrientes 11,438 11,560 10,244 9,265
Propiedad Planta y Equipo Neto 7,709 7,102 6,577 6,053
Goodwill 1,392 1,392 841 379
Activos Intangibles 3,208 2,993 2,937 2,881
Otros Activos No Corrientes 1,061 1,313 782 762
Total Activos No Corrientes 13,370 12,800 11,137 10,075
Total Activos 24,808 24,360 21,381 19,340
Proveedores por Pagar 3,335 3,046 2,912 2,761
Costos por pagar 10 546 523 480
Obligaciones financieras de corto plazo 5,441 5,051 5,777 5,173
Total Pasivos Corrientes 8,786 8,643 9,212 8,414
Impuesto diferido 50 0 816 955
Obligaciones financieras largo plazo 1,648 2,344 2,088 1,943
Otros pasivos de largo plazo 5,228 4,862 4,984 5,273
Total Pasivos No Corrientes 6,926 7,206 7,888 8,171
Total Pasivos 15,712 15,849 17,100 16,585
Capital Social 4,299 3,581 2,416 1,870
Utilidad del Ejercicio 235 133 (3,140) (930)
Utilidades Acumuladas 4,562 4,797 5,005 1,815
Total Patrimonio 9,096 8,511 4,281 2,755
Total Patrimonio + Pasivo 24,808 24,360 21,381 19,340
Cuadre Balance 0 0 0 0

Modulo de Análisis de Datos

SEARS CORP
Cifras en USD Millones 10 546 523 480
Balance General Histórico Reorganizad - - - -
Caja 1,689 1,359 747 609
Cuentas por Cobrar 652 689 695 635
Inventarios 8,705 8,951 8,407 7,558
Otros Activos Corrientes 392 561 395 463
Propiedad Planta y Equipo Neto 7,709 7,102 6,577 6,053
Goodwill 1,392 1,392 841 379
Activos Intangibles 3,208 2,993 2,937 2,881
Otros Activos No Corrientes 1,061 1,313 782 762
Total Activos Operacionales 24,808 24,360 21,381 19,340
Total Activos Financieros
Total Activos 24,808 24,360 21,381 19,340
Proveedores por Pagar 3,335 3,046 2,912 2,761
Costos por pagar 10 546 523 480
Impuesto diferido 50 - 816 955
Otros pasivos de largo plazo 5,228 4,862 4,984 5,273
Total Pasivos Operacionales 8,623 8,454 9,235 9,469
Obligaciones financieras de corto plazo 5,441 5,051 5,777 5,173
Obligaciones financieras largo plazo 1,648 2,344 2,088 1,943
Total Pasivos NO operacionales/finan 7,089 7,395 7,865 7,116
Total Pasivos 15,712 15,849 17,100 16,585
Capital Social 4,299 3,581 2,416 1,870
Utilidad del Ejercicio 235 133 - 3,140 - 930
Utilidades Acumuladas 4,562 4,797 5,005 1,815
Total Patrimonio 9,096 8,511 4,281 2,755
Total Pasivo + Patrimonio 24,808 24,360 21,381 19,340
Check - - - -
#REF!
 Análisis vertical 1
2014 2015 2016 2017 2010 2011 2012 2013
- - - - * - - - -
*
36,188 31,198 25,146 22,138 * 100.00% 100.00% 100.00% 100.00%
(27,376) (23,981) (19,292) (17,226) * -72.36% -72.66% -74.18% -73.53%
8,812 7,217 5,854 4,912 * 27.64% 27.34% 25.82% 26.47%
(9,739) (8,725) (6,854) (6,890) * -26.10% -26.31% -29.43% -28.57%
(927) (1,508) (1,000) (1,978) * 1.54% 1.02% -3.61% -2.10%
207 0 0 0 * 0.01% 0.08% 0.01% 0.24%
(254) (313) (323) (404) * -0.57% -0.69% -0.70% -0.67%
(247) 264 (63) (13) * -0.18% -0.04% 0.04% 0.31%
(1,221) (1,557) (1,386) (2,395) * 0.80% 0.38% -4.26% -2.22%
(144) (125) 257 174 * -0.26% -0.06% -3.29% -0.11%
(1,365) (1,682) (1,129) (2,221) * 0.54% 0.31% -7.55% -2.33%
*
*
*

2014 2015 2016 2017 *

- - - - *
1,028 250 238 286 * 14.77% 11.76% 7.29% 6.57%
553 429 419 466 * 5.70% 5.96% 6.78% 6.85%
7,034 4,943 5,172 3,959 * 76.11% 77.43% 82.07% 81.58%
344 241 216 285 * 3.43% 4.85% 3.86% 5.00%
8,959 5,863 6,045 4,996 * 100.00% 100.00% 100.00% 100.00%
5,394 4,449 2,631 2,240 * 57.66% 55.48% 59.06% 60.08%
379 269 269 269 * 10.41% 10.88% 7.55% 3.76%
2,850 2,097 1,909 1,521 * 23.99% 23.38% 26.37% 28.60%
679 507 483 336 * 7.94% 10.26% 7.02% 7.56%
9,302 7,322 5,292 4,366 * 100.00% 100.00% 100.00% 100.00%
18,261 13,185 11,337 9,362 *
2,496 1,621 1,574 1,048 * 37.96% 35.24% 31.61% 32.81%
460 380 284 339 * 0.11% 6.32% 5.68% 5.70%
5,229 3,594 3,580 3,294 * 61.93% 58.44% 62.71% 61.48%
8,185 5,595 5,438 4,681 * 100.00% 100.00% 100.00% 100.00%
1,109 1,195 893 743 * 0.72% 0.00% 10.34% 11.69%
2,834 3,087 2,108 3,573 * 23.79% 32.53% 26.47% 23.78%
4,394 4,259 4,861 4,189 * 75.48% 67.47% 63.18% 64.53%
8,337 8,541 7,862 8,505 * 100.00% 100.00% 100.00% 100.00%
16,522 14,136 13,300 13,186 *
2,219 1,211 1,328 1,688 * 47.26% 42.07% 56.44% 67.88%
 (1,365) (1,682) (1,129) (2,221) * 2.58% 1.56% -73.35% -33.76%
885 (480) (2,162) (3,291) * 50.15% 56.36% 116.91% 65.88%
1,739 (951) (1,963) (3,824) * 100.00% 100.00% 100.00% 100.00%
18,261 13,185 11,337 9,362 *
0 0 0 0 * 0.00% 0.00% 0.00% 0.00%
*
*
*
460 380 284 339 *
- - - - *
1,028 250 238 286 *
553 429 419 466 *
7,034 4,943 5,172 3,959 *
344 241 216 285 *
5,394 4,449 2,631 2,240 *
379 269 269 269 *
2,850 2,097 1,909 1,521 *
679 507 483 336 *
18,261 13,185 11,337 9,362 *
*
18,261 13,185 11,337 9,362 *
2,496 1,621 1,574 1,048 *
460 380 284 339 *
1,109 1,195 893 743 *
4,394 4,259 4,861 4,189 *
8,459 7,455 7,612 6,319 *
5,229 3,594 3,580 3,294 *
2,834 3,087 2,108 3,573 *
8,063 6,681 5,688 6,867 *
16,522 14,136 13,300 13,186 *
2,219 1,211 1,328 1,688 *
- 1,365 - 1,682 - 1,129 - 2,221 *
885 - 480 - 2,162 - 3,291 *
1,739 - 951 - 1,963 - 3,824 *
18,261 13,185 11,337 9,362 *
- - - - *
*
*
 Análisis vertical 2
2014 2015 2016 2017 2010 2011 2012 2013 2014
- - - -

100.00% 100.00% 100.00% 100.00%

-75.65% -76.87% -76.72% -77.81%
24.35% 23.13% 23.28% 22.19%
-26.91% -27.97% -27.26% -31.12%
-2.56% -4.83% -3.98% -8.93%
0.57% 0.00% 0.00% 0.00%
-0.70% -1.00% -1.28% -1.82%
-0.68% 0.85% -0.25% -0.06%
-3.37% -4.99% -5.51% -10.82%
-0.40% -0.40% 1.02% 0.79%
-3.77% -5.39% -4.49% -10.03%

11.47% 4.26% 3.94% 5.72% 6.81% 5.58% 3.49% 3.15% 5.63%

6.17% 7.32% 6.93% 9.33% 2.63% 2.83% 3.25% 3.28% 3.03%
78.51% 84.31% 85.56% 79.24% 35.09% 36.74% 39.32% 39.08% 38.52%
3.84% 4.11% 3.57% 5.70% 1.58% 2.30% 1.85% 2.39% 1.88%
100.00% 100.00% 100.00% 100.00% 46.11% 47.45% 47.91% 47.91% 49.06%
57.99% 60.76% 49.72% 51.31% 31.07% 29.15% 30.76% 31.30% 29.54%
4.07% 3.67% 5.08% 6.16% 5.61% 5.71% 3.93% 1.96% 2.08%
30.64% 28.64% 36.07% 34.84% 12.93% 12.29% 13.74% 14.90% 15.61%
7.30% 6.92% 9.13% 7.70% 4.28% 5.39% 3.66% 3.94% 3.72%
100.00% 100.00% 100.00% 100.00% 53.89% 52.55% 52.09% 52.09% 50.94%
100.00% 100.00% 100.00% 100.00% 100.00%
30.49% 28.97% 28.94% 22.39% 21.23% 19.22% 17.03% 16.65% 15.11%
5.62% 6.79% 5.22% 7.24% 0.06% 3.45% 3.06% 2.89% 2.78%
63.89% 64.24% 65.83% 70.37% 34.63% 31.87% 33.78% 31.19% 31.65%
100.00% 100.00% 100.00% 100.00% 55.92% 54.53% 53.87% 50.73% 49.54%
13.30% 13.99% 11.36% 8.74% 0.32% 0.00% 4.77% 5.76% 6.71%
33.99% 36.14% 26.81% 42.01% 10.49% 14.79% 12.21% 11.72% 17.15%
52.70% 49.87% 61.83% 49.25% 33.27% 30.68% 29.15% 31.79% 26.59%
100.00% 100.00% 100.00% 100.00% 44.08% 45.47% 46.13% 49.27% 50.46%
100.00% 100.00% 100.00% 100.00% 100.00%
127.60% -127.34% -67.65% -44.14% 17.33% 14.70% 11.30% 9.67% 12.15%
-78.49% 176.87% 57.51% 58.08% 0.95% 0.55% -14.69% -4.81% -7.47%
50.89% 50.47% 110.14% 86.06% 18.39% 19.69% 23.41% 9.38% 4.85%
100.00% 100.00% 100.00% 100.00% 36.67% 34.94% 20.02% 14.25% 9.52%

0.00% 0.00% 0.00% 0.00%

 Análisis Horizontal
2015 2016 2017 2010 2011 2012 2013 2014 2015 2016

-1.61% -2.57% -4.12% -9.20% -13.79% -19.40%

-1.19% -0.53% -4.96% -6.58% -12.40% -19.55%
-2.69% -8.00% -1.70% -16.47% -18.10% -18.89%
-0.81% 8.95% -6.91% -14.47% -10.41% -21.44%
-34.48% -443.48% -44.17% 10.62% 62.68% -33.69%
540.00% -87.50% 2250.00% 120.21% -100.00% #DIV/0!
18.15% -1.37% -7.61% -4.87% 23.23% 3.19%
-79.49% -193.75% 733.33% -297.60% -206.88% -123.86%
-53.76% -1206.88% -49.97% 37.81% 27.52% -10.98%
-75.68% 4970.37% -96.79% 227.27% -13.19% -305.60%
-43.40% -2460.90% -70.38% 46.77% 23.22% -32.88%

1.90% 2.10% 3.05% 5.67% 0.87% -8.63% -12.91% -22.42% -2.33%

3.25% 3.70% 4.98% 2.83% -6.08% -10.10% -6.93% -29.73% 4.63%
37.49% 45.62% 42.29% 43.11% -29.59% 17.22% -25.70% -29.94% -10.37%
1.83% 1.91% 3.04% 1.07% -11.38% -9.56% -3.30% -34.56% 3.10%
44.47% 53.32% 53.36% -7.87% -7.39% -7.97% -10.89% -17.52% -40.86%
33.74% 23.21% 23.93% 0.00% -39.58% -54.93% 0.00% -29.02% 0.00%
2.04% 2.37% 2.87% -6.70% -1.87% -1.91% -1.08% -26.42% -8.97%
15.90% 16.84% 16.25% 23.75% -40.44% -2.56% -10.89% -25.33% -4.73%
3.85% 4.26% 3.59% -4.26% -12.99% -9.54% -7.67% -21.29% -27.72%
55.53% 46.68% 46.64% -1.81% -12.23% -9.55% -5.58% -27.80% -14.02%
100.00% 100.00% 100.00% -8.67% -4.40% -5.19% -9.60% -35.06% -2.90%
11.47% 11.83% 7.95% 5360.00% -4.21% -8.22% -4.17% -17.39% -25.26%
2.69% 2.14% 2.57% -7.17% 14.37% -10.46% 1.08% -31.27% -0.39%
25.42% 26.92% 24.98% -1.63% 6.58% -8.66% -2.72% -31.64% -2.81%
39.58% 40.89% 35.50% -100.00% #DIV/0! 17.03% 16.13% 7.75% -25.27%
8.45% 6.71% 5.63% 42.23% -10.92% -6.94% 45.86% 8.93% -31.71%
21.84% 15.85% 27.10% -7.00% 2.51% 5.80% -16.67% -3.07% 14.13%
30.13% 36.55% 31.77% 4.04% 9.46% 3.59% 2.03% 2.45% -7.95%
60.42% 59.11% 64.50% 0.87% 7.89% -3.01% -0.38% -14.44% -5.91%
100.00% 100.00% 100.00% -16.70% -32.53% -22.60% 18.66% -45.43% 9.66%
9.18% 11.71% 18.03% -43.40% -2460.90% -70.38% 46.77% 23.22% -32.88%
-12.76% -9.96% -23.72% 5.15% 4.34% -63.74% -51.24% -154.24% 350.42%
-3.64% -19.07% -35.15% -6.43% -49.70% -35.65% -36.88% -154.69% 106.41%
-7.21% -17.31% -40.85% -1.81% -12.23% -9.55% -5.58% -27.80% -14.02%
 2017 TACC

-11.96% -9.16%
-10.71% -8.21%
-16.09% -11.97%
0.53% -6.85%
97.80% -216.80%
#DIV/0! -100.00%
25.08% 7.22%
-79.37% -22.58%
72.80% -231.84%
-32.30% -206.63%
96.72% -237.83%

11.22% -4.68%
-23.45% -10.65%
31.94% -4.45%
-17.35% -11.16%
-14.86% -16.19%
0.00% -20.93%
-20.32% -10.11%
-30.43% -15.15%
-17.50% -14.78%
-17.42% -13.00%
-33.42% -15.24%
19.37% 65.42%
-7.99% -6.92%
-13.92% -8.60%
-16.80% 47.04%
69.50% 11.69%
-13.82% -3.12%
8.18% 2.98%
-0.86% -2.47%
27.11% -12.50%
96.72% -237.83%
52.22% -195.44%
94.80% -188.36%
-17.42% -13.00%
Aumento muy por encima de inventario y cuantas por cobrar del crecimiento de los i
Aumento muy por encima de crecimiento de los ingresos
Aumento muy por encima de crecimiento de los ingresos (problemas: menores pedidos en el futuro, precios
 BANCOS
PROVEEDORES
ores pedidos en el futuro, precios más altos, intereses de mora)