Aviation is among the industries that were adversely impacted by Covid. Below table shows selective financial ratios of Singapore Airlines (SIA), for five semi-annual fiscal periods, including both before and after Covid outbreak (period of March 2020 September 2020, highlighted with bond font). Financial Statements are also provided.
Analyse the impact of Covid outbreak on SIAs FIVE categories of financial ratios (i.e. Liquidity, leverage, turnover, profitability and market value). [Hint: Elaborate your finding with information from financial statements and attempt to connect the numbers with business activities.]
\begin{tabular}{llllll} \hline Period Start & 03/21 & 09/20 & 03/20 & 09/19 & 03/19 \\ Period End & 09/21 & 03/21 & 09/20 & 03/20 & 09/19 \end{tabular} LiquidityRatiosCashRatioCurrentRatioQuickRatioLeverageRatiosTotalDebt/EquityTotalDebt/TotalAssetsLong-TermDebt/EquityLong-TermDebt/TotalAssets2.282.722.4967.4733.9762.4531.441.411.691.5788.0738.1579.4834.431.111.301.2271.2730.8362.1126.860.280.440.35121.0834.9688.6825.600.160.410.3271.9027.7660.8923.51 Turnover Ratios AccountsReceivableTurnoverDaysSalesOutstanding5.0672.134.7776.598.5142.9915.0524.3111.5131.71 Profitability Ratios OperatingMarginProfitMarginReturnonEquityReturnonAssets22.9529.608.824.0729.9236.8433.8711.98113.12212.1328.7211.474.165.461.880.665.422.475.362.29 Market Value Ratios Price/BookPrice/SalesDividendYieldSharePrice0.684.885.031.035.361.625.550.670.681.623.470.730.435.234.040.920.653.316.38 Balance Sheet (In Millions of SGD) Assets \begin{tabular}{lrrrrr} Current Assets & 15,404 & 9,672 & 8,941 & 4,843 & 3,551 \\ \cline { 2 - 6 } Cash \& Cash Equivalents & 12,938 & 8,055 & 7,587 & 3,109 & 1,435 \\ Accounts Receiv & 1,189 & 903 & 791 & 699 & 1,391 \\ Inventories & 191 & 195 & 207 & 239 & 234 \\ Other ST Assets & 1,086 & 486 & 357 & 682 & 491 \\ Non-Current Assets & 28,963 & 27,909 & 27,227 & 28,870 & 28,044 \\ \hline Total Assets & 44,367 & 37,581 & 36,167 & 33,713 & 31,594 \\ \hline \end{tabular} Liabilities \begin{tabular}{lrrrrr} Current Liabilities & 5,670 & 5,713 & 6,855 & 11,002 & 8,700 \\ \cline { 2 - 6 } Accounts Payable & 2,216 & 2,117 & 2,307 & 3,016 & 3,101 \\ Accrued Taxes & 134 & 95 & 70 & 69 & 78 \\ Interest \& Dividends Payable & & 72 & & 46 & \\ Other Payables \& Accruals & & 338 & & & \\ Short-Term Debt & 1,121 & 1,399 & 1,433 & 3,154 & 1,343 \\ Other ST Liabilities & 2,200 & 2,113 & 3,046 & 4,780 & 4,178 \\ Non-Current Liabilities & 16,362 & 15,590 & 13,668 & 12,978 & 10,696 \\ Long-Term Debt & 13,949 & 12,938 & 9,716 & 8,631 & 7,427 \\ Other LT Liabilities & 2,414 & 2,652 & 3,952 & 4,348 & 3,269 \\ Total Liabilities & 22,032 & 21,303 & 20,523 & 23,980 & 19,396 \\ \hline \hline \end{tabular} \begin{tabular}{llllll} Total Shareholders' Equity & 22,335 & 16,278 & 15,645 & 9,733 & 12,198 \\ \hline \hline \end{tabular} \begin{tabular}{llllll} Total Liabilities \& Shareholders' Equity & 44,367 & 37,581 & 36,167 & 33,713 & 31,594 \\ \cline { 2 - 5 } \end{tabular} PeriodStartPeriodEnd03/2109/2109/2003/2103/2009/2009/1903/2003/1909/19 Cashflow Statement (In Millions of SGD) CashFlowfromOperationsCashFlowfromInvestingCashFlowfromFinancing3277325,0936063691,6872,6879458,0501,0332,2782,6001,6992,687664 PeriodStartPeriodEnd03/2109/2109/2003/2103/2009/2009/1903/2003/1909/19 Income Statement (In Millions of SGD) RevenueOperatingExpensesStaffCostsFuelCostsCommission&IncentivesHandlingChargesRentalsonLeasedAircraftsOperatingIncomeEBITDAPre-TaxIncomeNetIncome2,8273,4466648102128246193429488372,1822,831584640766503661,1828041,6343,4975773761741,8637263,7763,4677,6518,0051,0472,2886153548475074188,3257,9111,5162,349255661674131,477287206
