Hewlett-Packard and IBM are close competitors in the sale of computer products and technology consulting. Selected financial
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1. Calculate the return on assets for both companies. Compare the ratios with those calculated for Apple and Dell in Illustration 11€“21.
2. Calculate the cash return on assets for both companies. Compare the ratios with those calculated for Apple and Dell in Illustration 11€“22.
3. Calculate the cash flow to sales ratio and the asset turnover ratio for both companies. Compare the ratios with those calculated for Apple and Dell in Illustrations 11€“24 and 25. Are Hewlett-Packard€™s and IBM€™s business strategies closer to Apple€™s or toDell€™s?
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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1 in millions Net Income Average Total Assets Return on Assets HewlettPackard 7074 124503 1295172 56 ...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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