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Inc Stmt
Southwest Materials, Inc. | |||||||||||||||||||
Consolidated Statements of Income | |||||||||||||||||||
Five Tabs, Print All of Thm | |||||||||||||||||||
2 | 0 | 200 | 2009 | 2010 | 2011 | ||||||||||||||
Net Sales | 61,540 | 72, | 410 | 83,200 | 89,4 | 60 | 93,000 | ||||||||||||
Cost of Sales | 48,000 | 55,760 | 64,4 | 80 | 68,440 | 70 | |||||||||||||
Gross Profit | 13,540 | 16,650 | 18,720 | 21,020 | 22,400 | ||||||||||||||
Selling, G&A Exp | 6,150 | 7,600 | 8,320 | 9,3 | 90 | 9, | 30 | ||||||||||||
Operating Profit | 7,390 | 9,050 | 10,400 | 11, | 630 | 13,100 | |||||||||||||
Interest Expense | (60) | (150) | ( | 420 | (450) | ( | 470 | ||||||||||||
Interest Income | 120 | ||||||||||||||||||
G(L) Sale Assets | 190 | 370 | 2,420 | 2,710 | 2,450 | ||||||||||||||
Income Before Txs | 7,640 | 9,340 | 12,480 | 13,980 | 15,170 | ||||||||||||||
Provision for Txs | 2,770 | 3,260 | 4,160 | 4,920 | 5,110 | ||||||||||||||
Net Income | 4,870 | 6,080 | 9,060 | 10,060 | |||||||||||||||
Percentage Presentation | |||||||||||||||||||
100.0% | |||||||||||||||||||
78.0% | 77.0% | 77.5% | 76.5% | 75.9% | |||||||||||||||
22.0% | 2 | 3.0% | 22.5% | 23.5% | 24.1% | ||||||||||||||
10.0% | 1 | 0.5% | |||||||||||||||||
12.0% | 12.5% | 13.0% | 14.1% | ||||||||||||||||
– | 0.1% | – | 0.2% | -0.5% | |||||||||||||||
0.3% | 2.9% | 2.6% | |||||||||||||||||
12.4% | 12.9% | 1 | 5.0% | 15.6% | 16.3% | ||||||||||||||
4.5% | 5.5% | ||||||||||||||||||
7.9% | 8.4% | 10.1% | 10.8% |
Bal Sht
Consolidated Balance Sheets | ||||||||||||
2007 | 2008 | |||||||||||
Current Assets | ||||||||||||
Cash & Equivalents | 560 | 3,640 | 4,270 | |||||||||
Accounts Receivable (Net) | 8,170 | 9,420 | 10,470 | 11,310 | 12,000 | |||||||
Inventories | 3,190 | 2, | 950 | 3,870 | 3,840 | 4,000 | ||||||
Prepaid Expense | 660 | 520 | 750 | 900 | ||||||||
Total Current Assets | 12,580 | 13,360 | 15,420 | 19,540 | 21,170 | |||||||
Other Assets | 2,590 | 3,800 | 3,880 | 4,380 | 5,000 | |||||||
Goodwill | 1, | 140 | 5,870 | 6,140 | 6, | 830 | 7,000 | |||||
Property, Plant & Equip. | ||||||||||||
Land | 15,010 | 17,460 | 18, | 910 | 20,110 | 21,770 | ||||||
Plant & Equip & C-I-P | 65,370 | 76,190 | 89,560 | 94,750 | 101,390 | |||||||
Gross P. P. & E. | 80,380 | 93,650 | 108,470 | 114,860 | 123,160 | |||||||
Less: Accum Depreciation | 40,250 | 41,160 | 47,650 | 51,220 | 56,010 | |||||||
Net P. P. & E. | 40,130 | 52,490 | 60,820 | 63,640 | 67,150 | |||||||
Total Assets | 56,440 | 75,520 | 86,260 | 94,390 | 100,320 | |||||||
Current Liabilities | ||||||||||||
Accounts Payable | 4,850 | 5,200 | 5,260 | 5,320 | 5,400 | |||||||
Accrued Liabilities | 4,200 | 7,960 | 4,360 | 4,320 | 4,300 | |||||||
Current Portion L-T-Debt | 290 | 1,140 | ||||||||||
Total Current Liabilities | 13,450 | 10,090 | 10,780 | 10,650 | ||||||||
Long-Term Debt | 2,990 | 11,560 | 18,950 | 15,120 | 11,500 | |||||||
Deferred Income Taxes | 3, | 570 | 3,990 | 4,820 | 6,910 | 7,500 | ||||||
Accrued Employee Benefits | 3,050 | 3,680 | 3,410 | 3,610 | 3,500 | |||||||
Total Liabilities | 32,680 | 37,270 | 36,420 | 33,150 | ||||||||
Stockholders’ Equity | ||||||||||||
Common Stk, $.10 Par Val | 240 | |||||||||||
Capital in Excess of Par | 2, | 350 | ||||||||||
Retained Earnings | 35,240 | 40,730 | 48,120 | 56,020 | 64,880 | |||||||
Less Cost of Treas Stk | (340) | (480) | (1,720) | (640) | (300) | |||||||
Total Stockholders’ Equity | 37,490 | 42,840 | 48,990 | 57,970 | 67,170 | |||||||
Total Liablities & Equity |
Cash Flw
Consolidated Statements of Cash Flows | ||||||
Cash, Operating Activities | ||||||
Adjustments to Reconcile | ||||||
Net Income to Net Cash | ||||||
From Operations | ||||||
Deprec/Depl/Amort | 6,490 | 3,570 | ||||
(Gain)Loss Asset Sale | (370) | (2,420) | (2,710) | |||
Net Changes in Operating | ||||||
Assets & Liabilities | ||||||
(Incr)Decr Acc Rec | (1,250) | (1,050) | (840) | |||
(Incr)Decr Inventories | (920) | |||||
(Incr)Decr Prepaids | (140) | (90) | ||||
Incr(Decr) Acc Pay | ||||||
Incr(Decr) Accrued Liab | 3,760 | (3,600) | (40) | |||
Incr(Decr) Cur L-T Debt | 180 | 670 | ||||
Net Cash, Operating Activ | 9,860 | 6,920 | 9,710 | |||
Cash, Investing Activities | ||||||
Purchase, P. P. & E. | (13,470) | (18,130) | (7,250) | |||
Proceeds, Sale of Assets | 5,730 | |||||
Additions, Other Assets | (1,210) | (80) | (500) | |||
Business Acquistions | (4,730) | (270) | (690) | |||
Net Cash, Investing Activ | (18,840) | (12,750) | (4,870) | |||
Cash, Financing Activities | ||||||
Incr(Decr) L-T Debt | 8,570 | (3,830) | ||||
Incr(Decr) Deferred Tax | 2,090 | |||||
Incr(Decr) Employee Ben | ||||||
Repurchase, Company Stk | (1,240) | 1,080 | ||||
Payment of Dividends | (590) | (930) | (1,160) | |||
Net Cash, Financing Activ | 8,890 | 5,780 | (1,620) | |||
Net Incr(Decr) in Cash | (50) | 3,220 | ||||
Cash, Beginning of Year | ||||||
Cash, End of Year | ||||||
Because P.P.&E. was bought and sold during each year, use the following | ||||||
information concerning Capital Expenditures, Proceeds and (Gain)loss. | ||||||
(Capital Expenditures) | (9,750) | |||||
Proceeds, P.P.&E. Sale | 3,900 | |||||
(Gain)Loss P.P.&E. Sale | (2,450) | |||||
Net (Incr) P.P.&E. | (13,270) | (14,820) | (6,390) | (8,300) |
Ratios
Financial Statement Analysis | ||||||||||
Liquidity Analysis | ||||||||||
Current Ratio | 1.35 | 0.99 | 1.53 | 1.81 | ||||||
Acid-Test Ratio | 0.93 | 0.74 | 1.08 | 1.39 | ||||||
Acc Receivable Turnover Ratio | 8.27 | 8.23 | 8.37 | 8.21 | ||||||
Days’ Sales in Receivables | 43.53 | 43.73 | 43.03 | 43.82 | ||||||
Inventory Turnover Ratio | 18.28 | 18.16 | 18.91 | 17.75 | ||||||
Days’ Goods in Inventory | 19.69 | 19.82 | 19.04 | 20.28 | ||||||
Cash-to-Cash Operating Cycle | 63.22 | 63.55 | 62.07 | 64.10 | ||||||
Solvency Analysis | ||||||||||
Debt-to-Equity Ratio | 0.51 | 0.76 | 0.63 | |||||||
Times Interest Earned | 128.33 | 63.27 | 30.71 | 32.07 | ||||||
Profitability Analysis | ||||||||||
Gross Margin | 22.00% | 22.99% | 22.50% | 23.50% | ||||||
Profit Margin | 7.91% | 8.40% | 1 | 0.00% | 10.13% | |||||
Return on Assets Ratio | 1.18% | 9.36% | 10.62% | 10.35% | ||||||
Return on Equity Ratio | 1.73% | 15.14% | 18.12% | 16.94% | ||||||
Asset Turnover Ratio | 0.15 | 1.10 | 1.03 | |||||||
Sales Per Employee | 186.48 | 206.89 | 202.93 | 213.00 | 218.82 | |||||
Gross Profit Per Employee | 41.03 | 47.57 | 45.66 | 50.05 | 52.71 | |||||
Net Income Per Employee | 14.76 | 17.37 | 20.29 | 21.57 | 23.67 | |||||
Other Data | ||||||||||
Average Market Price Per Share | 26.49 | 34.18 | 31.03 | 27.88 | ||||||
Weighted Avg Share Oustanding | 5,300 | |||||||||
Employees at Year End | 330 | 425 | ||||||||
Economic Value Added | ||||||||||
Working Capital | 3,240 | 5,330 | 8,760 | 10,520 | 6,830 | |||||
Net Fixed Assets | ||||||||||
Capital Employed | 47,100 | 62,070 | 76,170 | 83,610 | 89,670 | |||||
Average Prime Interest Rate | 6.92% | 4.68% | 4.12% | 4.34% | 6.19% | |||||
Estimated W. Avg. Cost of Cap. | ||||||||||
Unsecured Notes | 0.64% | 0.07% | 0.03% | 0.01% | ||||||
Revolving Credit Agreement | 6.39% | 5.11% | 4.50% | |||||||
Industrial Development Bonds | 1.39% | 0.25% | 1.12% | 0.15% | 0.50% | |||||
1.90% | 0.49% | 0.51% | ||||||||
Secured Note | 2.28% | 0.59% | 1.00% | |||||||
0.53% | 0.12% | 0.54% | 0.75% | |||||||
Total W.A.C.C. | 4.46% | 7.32% | 4.20% | 6.56% | 7.00% | |||||
Net Operating Profit After Tax | 4,711 | 5,891 | 6,933 | 7,537 | 8,687 | |||||
(Capital Employed * WACC) | 2,103 | 4,544 | 3,197 | 5,483 | 6,277 | |||||
2,608 | 1,348 | 3,737 | 2,054 | 2,410 |
Equa
= Current Assets/Current Liabilities | |
= (Cash+Marketable Securities+Accounts Receivable)/Cur Liab | |
= Net Credit Sales/Average Accounts Receivable | |
= Days in Period/Accounts Receivable Turnover Ratio | |
= Cost of Goods Sold/Average Inventory | |
Days’ Sales in Inventory | = Days in Period/Inventory Turnover Ratio |
= Days’ Sales in Inventory + Days’ Sales in Receivables | |
= Total Liabilities/Total Stockholders’ Equity | |
=(Net Income + Interest Expense + Taxes)/Interest Expense | |
= Gross Profit/Net Sales | |
= Net Income/Net Sales | |
= (Net Income + Interest Expense, Net of Tax)/Avg Tot Assets | |
= (Net Income – Pref Div)/Avg Common Stockholders’ Equity | |
= Net Sales/Average Total Assets | |
= Net Sales/Number of Employees | |
= Gross Profit/Number of Employees | |
= Net Income/Number of Employees | |
= Net Operating Profit After Tax – (Capital Employed * WACC) |