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Excel Forecasting Project

2011 Cash 1648 Receivables 6226 Inventory 5838 Other Current Assets 693 Total Current Assets 14405 Net Fixed Assets 20590 Total Assets 34995 Total Current Liabilities 9588 Total Long-term Liabilities 11202 Total Liabilities 20790 Total Stockholder Equity 14205 Sales 52620 Cost of Sales 34927 EBIT 4296 Pretax Income 3860 Net Income (loss) 3860 Dividend Expense 334 Dividend Payout Ratio 13.87%.

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86 views

Excel Forecasting Project

2011 Cash 1648 Receivables 6226 Inventory 5838 Other Current Assets 693 Total Current Assets 14405 Net Fixed Assets 20590 Total Assets 34995 Total Current Liabilities 9588 Total Long-term Liabilities 11202 Total Liabilities 20790 Total Stockholder Equity 14205 Sales 52620 Cost of Sales 34927 EBIT 4296 Pretax Income 3860 Net Income (loss) 3860 Dividend Expense 334 Dividend Payout Ratio 13.87%.

Uploaded by

api-313674787
Copyright
© © All Rights Reserved
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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5

Key Financial Items


Cash
Receivables
Inventory
Total Current Assets
Total Assets
Total Current Liabilities
Total Liabilities
Total Stockholder Equity
Sales
Cost of Sales
EBIT
Pretax Income
Net Income (Loss)
Dividend Expense

2011
1648
6226
5838
14405
34995
9588
20790
14205
52620
34927
4296
3860
2408
334

2012
813
6757
6254
14706
37349
11117
21716
15633
59490
39399
5041
4497
2787
396

2013
784
5841
7903
16388
48163
14031
31605
16558
73301
50568
5740
5056
2999
400

2014
670
5800
8278
11573
44553
12777
28322
16231
71279
50039
5170
4121
1971
450

2015
2210
5800
6000
14087
41404
11736
27407
13997
72618
51278
4535
3653
-1636
450

Dollar Amounts
2011
Cash
1648
Receivables
6226
Inventory
5838
Other Current Assets
693
Total Current Assets
14405
Net Fixed Assets
20590
Total Assets
34995
Total Current Liabilities
9588
Total Long-term Liabilities
11202
Total Liabilities
20790
Total Stockholder Equity
14205
Sales
52620
Cost of Sales
34927
EBIT
4296
Pretax Income
3860
Net Income (Loss)
2408
Dividend Expense
334
Dividend Payout Ratio
13.87%

2012
813
6757
6254
882
14706
22643
37349
11117
10599
21716
15633
59490
39399
5041
4497
2787
396
14.21%

Sales g:
3.00%
2013
2014
2015
784
670
2210
5841
5800
5800
7903
8278
6000
1860
-3175
77
16388
11573
14087
31775
32980
27317
48163
44553
41404
14031
12777
11736
17574
15545
15671
31605
28322
27407
16558
16231
13997
73301
71279
72618
50568
50039
51278
5740
5170
4535
5056
4121
3653
2999
1971
-1636
400
450
450
Ave
13.34% 22.83%
16.06%
Additions to Retained Earnings
2013
2014
2015
Ave

Percentage of Sales
2011
2012
Cash
Receivables
11.83% 11.36%
7.97%
8.14%
7.99%
9.46%
Inventory
11.09% 10.51% 10.78% 11.61%
8.26% 10.45%
Other Current Assets
1.32%
1.48%
2.54% -4.45%
0.11%
0.20%
Total Current Assets
Net Fixed Assets
Total Assets
Total Current Liabilities
18.22% 18.69% 19.14% 17.93% 16.16% 18.03%
Total Long-term Liabilities
Total Liabilities
Total Stockholder Equity
Sales
100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Cost of Sales
66.38% 66.23% 68.99% 70.20% 70.61% 68.48%
EBIT
8.16%
8.47%
7.83%
7.25%
6.25%
7.59%
Pretax Income
7.34%
7.56%
6.90%
5.78%
5.03%
6.52%
Net Income (Loss)
4.58%
4.68%
4.09%
2.77% -2.25%
2.77%
Dividend Expense

2016
4355
7073
6000
148
17576
27317
44893
13484
15671
29155
15738
74797
51222
5680
4877
2074
333

2017
6336
7285
6000
152
19773
27317
47090
13888
15671
29559
17531
77040
52758
5850
5024
2136
343

1741

1793

2018
8376
7504
6000
157
22037
27317
49354
14305
15671
29976
19378
79352
54341
6025
5174
2200
353

2019
10478
7729
6000
162
24369
27317
51686
14734
15671
30405
21280
81732
55971
6206
5330
2266
364

2020
12643
7961
6000
166
26770
27317
54087
15176
15671
30847
23240
84184
57650
6392
5490
2334
375

1847

1902

1959

Now
Dividend Expense (in millions)
Dividend Per Share

PV of Future Cash Flow

2016

2017

2018

333
0.50

343
0.51

353
0.53

0.48

0.50

0.51

PRICE
27.11
argh!
r
g
# of Shares (in millions)

6.00%
4.25%
669.3

2019

2020

2021

2022

2023 etc

364
0.54

375
0.56

0.58

0.61

etc
0.63 etc

P2019
32.01
32.54

Ratios

Equations

2011

2012

8.4517

9.1643

42.5952

39.2829

5.9827

6.5165

60.1735

57.1446

Sales
Average Accounts
Receivable

Accounts Recievable Turnover:

Average Accounts
Receivable
Sales

X 360
(days)

Average Collection Period:

COGS
Average Inventory

Inventory Turnover:

Inventory
COGS

Days Sales Inventory:

X 360
(days)

Net Income
Sales

Net Profit Margin:

0.0458

0.0468

1.5036

1.5928

1.5024

1.3228

Sales
Total Assets

Total Asset Turnover:

Current
Assets
Current
Liabilities
Current Ratio:

emails
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2013

2014

2015

2016

2017

2018

2019

11.6369

12.2462

12.5203

11.6205

10.7310

10.7310

10.7310

30.9360

29.3969

28.7532

30.9797

33.5478

33.5478

33.5478

7.1439

6.1849

7.1828

8.2372

8.7930

9.0568

9.3285

56.2625

59.5551

42.1233

42.1698

40.9415

39.7491

38.5913

0.0409

0.0277

-0.0225

0.0277

0.0277

0.0277

0.0277

1.5219

1.5999

1.7539

1.6661

1.6360

1.6078

1.5813

1.1680

0.9058

1.2003

1.3035

1.4237

1.5405

1.6539

2020 Evaluation

The increasing Accounts receivables ratio indicates


that the companys collections are sufficient, and have
quality customers who pay their debts in a timely
manner
10.7310

The average collection period provides insight into


Targets credit granting policies. Since the ratio
decreases overtime, Target is turning their
receivables into cash more quickly.

33.5478

Inventory turnover rate is held at a healthy steady


rate. Too low would indicates an excess of
inventory or minimal sells throughout the period.
Too high could possibly mean making ineffective
purchases and cause a drop in the market price.
9.6084

Days Sales Inventory measures value, liquidity,


and cash flows. Target is showing sufficient
liquidity in their inventory in 2015, inventory is
moving at a faster rate than previous years, as the
ratio becomes smaller.
37.4673

Targets profit margin was fairly constant for


2011,2012, and 2013. In 2014 and 2015 it changed
negatively possibly indicating weak sales price
relative to cost of goods sold

0.0277

The greater the asset turnover ratio, the greater the


company is performing. The increase shows Target
is accumulating more revenue per dollar of assets,
as time proceeds.

1.5565

Looking at the current ratio from 2011-2015


Target corp seems to have lower asset value
compared to the value of their liabilities. Going
below 1 in 2014 indicates they may not be able
to pay of obligations.
1.7639

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