Financial Statement Analysis Project |
Summer 2015 – AF 610 |
Chang Liu, Christy Tepelena, and Ian Houts |
6/29/2015 |
- Company Background
Boston Beer works and Craft Beer Alliance company backgrounds.
- Financial Statement Analysis
- Common-size income statements for Boston Beer Company (attachment 1) and Craft Beer Alliance (attachment 2) are presented following the written portion of this project.
- Profitability Ratios:
The Boston Beer Company, Inc. | Craft Beer Alliance, Inc. | ||||
2014 | 2013 | 2014 | 2013 | ||
ROE | 24.58% | 25.73% | 2.72% | 1.76% | |
ROA | 17.30% | 17.52% | 1.76% | 1.15% | |
EPS | 6.69 | 5.18 | 0.16 | 0.10 | |
Profit Margin | 10.05% | 9.52% | 1.43% | 1.02% | |
Gross Profit Margin | 51.50% | 52.08% | 34.15% | 33.01% | |
Operating Profit Margin | 16.23% | 15.30% | 2.66% | 1.97% |
- Turnover Ratios:
The Boston Beer Company, Inc. | Craft Beer Alliance, Inc. | ||||
2014 | 2013 | 2014 | 2013 | ||
Fixed Asset Turnover | 2.97 | 3.55 | 2.00 | 1.85 | |
Total Asset Turnover | 1.72 | 1.84 | 1.20 | 1.13 | |
Receivable Turnover | 22.90 | 20.12 | 18.57 | 16.92 | |
Average Age of Receivables | 15.94 | 18.14 | 19.65 | 21.57 | |
Inventory Turnover | 8.15 | 7.03 | 7.94 | 7.75 | |
Average Days' Supply in Inventory | 44.76 | 51.93 | 45.99 | 47.11 | |
Accounts Payable Turnover | 12.51 | 11.29 | 10.19 | 8.75 | |
Average Age of Payables | 29.17 | 32.33 | 35.81 | 41.74 | |
Days to Finance | 31.54 | 37.74 | 29.83 | 26.94 |