I'm going to need to send a series of screenshots of the excel worksheet as I don't see an option to upload an attachment.
Hydrogenics Corporation Required: This case is a continuation of Case 2.4. (a) Open the financial statement analysis template that you saved from the Chapter 2 Hydrogenics Case. Click on the "Cover" tab at the bottom of the screen. Input the check figures for the Income Statement section of this page. Click on the "Income Statement tab and input th data from the income statement included for H ydrogenics in this case. Be sure to input the basi earnings per share amounts at the bottom of the page. When you have finished inputting the data, review the income statement to make sure there are no red blocks indicating that your numbers do not match the cover sheet information check figures. Make any necessary corrections before printing out your input and the common-size income statement and growth rate analysis pages that the template automatically creates for you. Save the template on your computer or a disk in order to use it with subsequent problems in later chapters. The Analysis ToolPak' add-in must be installed and active Enter data on this sheet before other financial statement information using keystroke sequence of Alt T then I and ensure 'Analysis ToolPak' Add-In is checked Company Name: Hydrogenics Corporation Use the TAB' key to move efficiently between enterable (bordered) fields Stock Ticker Symbol U.S. Stock Exchange Statement Year-end Dates HYGS NASDAO 12/31/2013 Options: NYSE, AMEX, NASDAQ Sequence: Current yr (Col.B) to prior yrs (Cols. C & D) Options: Thousands, Millions, Billions 12/31/2012 Financial Reports Rounded toThousands Supplemental Ratio Requirements 2013 2012 Type all entries, DO NOT cut & paste values 2013 Rent expense (in thousands):S 845 $ 906 Dividends per share Split adjusted prices, if applicable, appear under the web site's price chart End of year stock price (adjusted for splits)S 19.15 $ 6.77 Marketwatch.com URL for stock prices: http:/imarketwatch.comitools/qu http:imarketwatch.comtoolsiqu otes-historical asp?date-12%2F oteshistorical asp?date=12%2F 31%2F2013&symb-HYGS&site 31%2F2012&symb HYGS&site id mktw Select a URL cell, copy the contents and paste into your browser's Address area for each year. If the market was not open on the day provided, modify the web site's quote date to the previous weekday id mktw Check Figures 31.649 $ 40,070 $ 22,528 34,607 41,877 26,054 4,307 Balance Sheet Current Assets: S Total Assets: S Current Liabilities: S Total Stockholders' Equity: S Enter a negative amount to bracket check figures 6,161 $ Gross Profit = Net Sales-Cost of Goods Sold Use net sales amount when cost of goods sald isn't available Gross Profit: S Operating Profit: S Net Profit: S 12,061 6,783) S 8,908) $ 5,249 12,225 (12,797 Income Statement Cash Flow Net Flows from Operations: S Net Flows from Investing Activity: S Net Flows from Financing Activity: S (9,197) S$ (1,163) 400 6,491 971) S 8,669 $ No enterable flelds exlst below this polnt Type all entries, DO NOT cut & paste values Dec 31, 2013 Dec 31, 2012 Use a formula format n+n+n...] to add multiple 11,823$ Cash and cash equivalents Short-term investments Accounts receivable, net 1,389 4,725 139 12,821 13,020 5,024 11,848 743 Include 'Marketable securities' if listed separately Accounts receivable allowance Inventories, net Current deferred taxes Other current assets Property, plant, and equipment Less: accumulated depreciation Long-term investments Goodwill, net Other intangibles, net Other deferred taxes Other assets 124 If B/S does not have 'Allowance amounts, see Notes 2,280 11,888 10,204 4,715 Use formula fomat to summarize multiple line items 10,769 If Net PPE on B/S, add Accum. Depr. from Notes 9,370 Enter Accumulated Depreciation as a positive number 5,021 5,248 100 107 Use formula format to summarize multiple line item:s se formula format to summarize multiple line items 1,389 743 Use formula format to summarize multiple line items LIABILITIES 3,115 $ Accounts payable Short-term debt Current portion of long-term debt Accrued liabilities Income taxes payable Other current liabilities Long-term debt Deferred income taxes payable Other deferred liabilities Other liabilities Minority interest 5,285 548 5,556 553 3,162 Use formula fomat to summarize multiple line items 12,160 2,260 15,296 Use formula format to summarize multiple line items 1,288 7.305 1,816 227 8,576 Use formula format to summarize multiple line items 1.652 Use formula format to summarize multiple line items Included in Total Liabilities and Stockholder Equity total STOCKHOLDERS' EQUITY Preferred stock Common stock, par value plus additional paid-in capital Retained earnings (accumulated deficit) Treasury stock Accumulated other comprehensive income (loss) Other stockholders' equity 351,761 (345,351) (249) 341,508 Include 'Capital in excess of par value' if listed separately (336,443) Enter a negative amount to bracket the number Enter Treasury Stock as a negative number (758) Enter a negative amount to bracket the number Use formula format to s e multiple line items No enterable fields exist below this point Type all entries, DO NOT cut & paste values use a formula format [ =n+n+n ] to add multiple financial statement line items into a single cell Dec 31, 2013 Dec 31, 2012 Net sales Less: Cost of goods sold Sales, general and administrative Research and development (R&D) Restructuring, impairment, and amortization Purchased in-process Other operating expenses Other Income (expenses), net excluding Interest expense Interest expense Provision for (benefit from) income taxes Extraordinary items, net Discontinued operations, net Cumulative effect of changes in accounting principles, net Other after-tax Income (loss), net 42,413 S 30,352 16,275 31,697 26,448 13,027 6,073 Enter Cost of goods sold as a positlve number Use formula format to summarize multiple line items 5,534 Use formula format to summarize multiple line items R&D Use formula format to summarize multiple line items Enter a negative amount to bracket the number Enter Interest expense as a positive number Enter a negative amount to bracket the number Enter a negative amount to bracket the number Enter a negative amount to bracket the number Enter a negative amount to bracket the number Enter a negative amount to bracket the number (1,699) 426 (243) 329 (8,908) (12,797) Basic earnings per common share (1.04) S Enter a negative amount to bracket the number Enter following data only if Multiple Source information is available Multiple sources of revenue OnSite Generation Power Systems Replace with source3 title Replace with source4 title Other revenues If no value is available, leave cell blank If no value is available, leave cell blank If no value is available, leave cell blank If no value is available, leave cell blank 24,078 18,335 27,336 4.361 - These amounts are calculated and cannnot be changed Multiple sources of cost of goods sold OnSite Generation Power Systems Replace with source3 title Replace with source4 title Other cost of goods sold If no value is available, leave cell blank If no value is available, leave cell blank If no value is available, leave cell blank If no value is available, leave cell blank 20,397 9,955 23,556 2,892 - These amounts are calculated and cannnot be changed No enterable fields exist below this point Hydrogenics Corporation (HYGS/ NASDAQ) Annual Consolidated Statement of Cash Flows Amounts Rounded to: Thousands Results for the Years Ending Dec 31, 2013 Dec 31, 2012 Cash flows from operating activities (20,784) S (27,215) Income (loss) from continuing operations Adjustments to reconcile to net cash provided by operating activities Depreciation and amortization Stock-based compensation Restructuring and Increase (decrease) in (Gain) loss on sales of investments, acquisitions, and securities (Gain) loss on sales of property, plant, and equipment Other non-cash items, net Changes in assets and liabilities irment charges for deferred income taxes (Increase) decrease in receivables (Increase) decrease in inventories (Increase) decrease in other current assets Increase (decrease) in accounts payable accrued liabilities, and income taxes payable Increase (decrease) in deferred liabilities Other assets and liabilities, net Net cash provided by (used in) operating activities Cash flows from investing activities Purchases of property, plant, and equipment Sales of property, plant, and equipment Purchases of marketable securities and short-term investments Sales of marketable securities and short-term investments Acquisitions, net of cash acquired Other investing activities, net Net cash provided by (used in) investing activities Cash flows from financing activities Short-term borrowings, net Proceeds from long-term borrowings Payment of long-term borrowings Proceeds from sales of common stock Repurchase of common stock treasury stock Dividends to shareholders Other financing activities, net Net cash provided by (used in) financing activities Net cash provided by (used for) discontinued operations Effect of exchange rate changes on cash, net Net increase (decrease) in cash and equivalents for period Cash and equivalents, beginning of period (20,784) 13,020 (27,215) Cash and equivalents, end of period Supplemental disclosures of cash flow information Cash paid during the year for. Interest Income taxes (refunded) Hydrogenics Corporation (HYGS/NASDA Show Formulas Summary of Financial Statement Ratios Results for the Years Ending Dec 31, 2012 Dec 31, 2013 Liquidity Ratios Current ratio Quick ratio Cash flow liquidity Average collection period Days inventory held Days payable outstanding 1.55 times 0.95 times (0.35) times 41.00 days 155.00 days 38.00 days 158 days 1.45 times 0.97 times (0.55) times 58.00 days 164.00 days 73.00 days 149 days Cash conversion cycle Activity Ratios Accounts receivable turnover Inventory turnover Payables turnover Fixed asset turnover otal asset turnover 8.98 times 2.37 times 9.74 times 25.19 times 1.02 times 6.31 times 2.23 times 5.00 times 22.66 times 0.74 times Leverage Ratios 84.56 % 23.02 % Debt ratio Long-term debt to total capitalization Debt to equity Financial leverage (FL) Times interest earned Cash interest coverage Fixed charge coverage Cash flow adequacy 79.02 % 26.84 % 5.32 times 6.73 times (22.89) times 8.37 times 9.90 times (42.09) times (7.01) times (10.48) times Profitability Ratios Gross profit margin Operating profit margin Net profit margin Cash flow margin Return on assets (ROA) 28.44 % (22.99) % (49.00) % (49.00) % (50.13) % (337.35) % (50.13) % 16.56 % (43.68) % or Return on investment (ROI) Return on equity (ROE) Cash return on assets (85.86) % (63.85) % (631.88) % (63.85) % Market Ratios Earnings per share Price-to-earnings Dividend payout Dividend yield N/M N/M NOTES: If a ratio's numerator and/or denominator equals zero, no ratio is displayed N/M" indicates a calculated ratio is not meaningful for analysis lydrogenics Corporation (HYGS7 NASDAQ Annual Common Size Balance Sheet Summary percentages in italics will not foot due to rounding Results as of Dec 31. 20 13 Dec 31, 2012 ASSETS Current Assets Cash and cash equivalents Short-term investments 28 5% 30.5% 1.7% 32.3% 31.9% Total cash and short-term investments Accounts receivable, net Inventories, net Current deferred taxes Other current assets Total current assets 30.9% 0.0% 27.8% 0.0% 79 7% 28.7% 24 6% 82 9% Property, plant, and equipment Less: accumulated depreciation 25.3% Net property, plant, and equipment Long-term investments Goodwill, net Other intangibles, net Other deferred taxes Other assets Total assets 3.3% 0.0% 11.8% 0.3% 0.0% 1-7% 12.7% 0 2% 0.0% 100.0% 100.0% LIABILITIES Current Liabilities 12.4% 0.0% Accounts payable Short-term debt Current portion of long-term debt Accrued liabilities Income taxes payable Other current liabilities Total current liabilities 0.0% 134% 0.0% 35.9% 57.0% 3.0% 0.5% 20.1% 3 9% 84 6% 0.0% 29. 3% Long-term debt Deferred income taxes payable Other deferred liabilities Other liabilities Total liabilities 0.0% 17.6% 79.0% 0.0% Minority interest STOCKHOLDERS' EQUITY Preferred stock Common stock, par value plus additional paid-in capital Re 0.0% 848 5% (833,0%) 0.0% 0.0% 801 3% (789.4%) tained earnings (accumulated deficit) Treasury stock Accumulated other comprehensive income (loss) Other stockholders' equity Total stockholders' equity 0 0% 0 0% 14.9% 10.1% Total liabilities and stockholders' equity 93.9% 94.7% Hydrogenics Corporation (HYGS/ NASDAQ) Annual Common Size Income Statement Summary percentages in italics will not foot due to rounding Results for the Years Ending Dec 31, 2013 Dec 31, 2012 100.0% 71.6% 28.4% 38.4% 13.0% 00% 00% 00% 51.4% 100.0% 83.4% 16.6% 41.1% 19.2% 0.0% 00% 0.0% 60.2% (43.7%) 08% (44.4%) 1.0% (45.5%) 0.0% (45.5%) 0.0% 0.0% 0.0% 40.4% Net sales Less: Cost of goods sold Gross profit Sales, general and administrative Research and development (R&D) Restructuring, impairment, and amortization Purchased in-process R&D Other operating expenses Total operating expenses (23.0%) 40% (27.0%) 1.0% (28.0%) 00% (28.0%) 0.0% 0.0% 0.0% 21.0% Operating profit (loss) Other income (expenses), net excluding interest expense Earnings (loss) before interest and taxes Interest expense Earnings (loss) before taxes Provision for (benefit from) income taxes Earnings (loss) after taxes Extraordinary items, net Discontinued operations, net Cumulative effect of changes in accounting principles, net Other after-tax income (loss), net Net profit (loss) 49.0% 85.9%) Effective tax rate N/M N/M Hydrogenics Corporation (HYGS/NASDAQ) Annual Common Size Multiple Source Revenue & COGS Summary percentages in italics will not foot due to rounding Results for the Years Ending Dec 31, 2013 Dec 31, 2012 Revenues by Source as a % of Net Sales OnSite Generation Power Systems Replace with sources title Replace with source4 title Other revenues 56.8% 43.2% 0.0% 0.0% 00% 100.0% 86.2% 13.8% 0.0% 0.0% 00% 100.0% Summary of revenue sources as a % of net sales COGS as a % of Associated Revenue Source 86.2% 66 . 3% 00% 00% 0.0% 0.0% 0.0% OnSite Generation Power Systems Replace with source3 title Replace with source4 title Other cost of goods sold 84.7% 54.3% 0.0% 00% 0.0% 00% 0.0% Gross Profit Margin for Associated Revenue Source 15.3% 45.7% 0.0% 0.0% 0.0% 13.8% 337% 0.0% 0.0% 0.0% 0.0% 0.0% OnSite Generation Power Systems Replace with source3 title Replace with source4 title Other revenues 0.0% 0.0% Hydrogenics Corporation (HYGS/ NASDAQ) Annual Summary Analysis Statement of Cash Flows Summary percentages in talics do not foot due to rounding differences Results for the Years Ending Dec 31, 2013 Dec 31, 2012 Inflows Proceeds from operating activities Sales of property, plant, and equipment Sales of marketable securities and short-term investments Divestiture of acquisitions, net of cash acquired Proceeds from other investing activities, net Proceeds from short-term borrowings, net Proceeds from long-term borrowings Proceeds from sales of common stock Proceeds from other financing activities, net Proceeds from discontinued operations Gains from effect of exchange rate changes on cash, net Total Inflows Outflows 27,215 100.0 Losses from operating activities Purchases of property, plant, and equipment Purchases of marketable securities and short-term investments Acquisitions, net of cash acquired Losses from other investing activities, net Payment of short-term borrowings, net Payment of long-term borrowings Repurchase of common stock treasury stock Payment of dividends to shareholders Payment of other financing activities, net Losses from discontinued operations Losses from effect of exchange rate changes on cash, net 20,784 100.0 Total Outflows 20,784 100.0 S 27,215 100.0 Net increase (decrease) in cash and cash equivalents (20,784) (27,215) Hydrogenics Corporation (HYGS/ NASDAQ) Additional Ratio Analysis Show Formulas Growth Rate Comparisons Between 2013 vs. 2012 2012 vs. 0 Selected Income Statement Growth Rates Sales growth rate Gross profit growth rate Operating expenses growth rate Operating profit growth rate Net profit growth rate 33.81 % 129.78 % 14.23 % 29.58 % 23.63 % N/M N/M N/M N/M Accounts Receivable Analysis Sales growth rate Gross accounts receivable growth rate Accounts receivable allowance growth rate 33.81 % (5.52) % 12.10 % N/M Results for the Years Ending Dec 31, 2013 2.86 % Dec 31, 2012 2.41 % Allowance as a % of gross accounts receivable NOTES: "N/M" indicates a calculated rate is not meaningful for analysis Hydrogenics Corporation Required: This case is a continuation of Case 2.4. (a) Open the financial statement analysis template that you saved from the Chapter 2 Hydrogenics Case. Click on the "Cover" tab at the bottom of the screen. Input the check figures for the Income Statement section of this page. Click on the "Income Statement tab and input th data from the income statement included for H ydrogenics in this case. Be sure to input the basi earnings per share amounts at the bottom of the page. When you have finished inputting the data, review the income statement to make sure there are no red blocks indicating that your numbers do not match the cover sheet information check figures. Make any necessary corrections before printing out your input and the common-size income statement and growth rate analysis pages that the template automatically creates for you. Save the template on your computer or a disk in order to use it with subsequent problems in later chapters. The Analysis ToolPak' add-in must be installed and active Enter data on this sheet before other financial statement information using keystroke sequence of Alt T then I and ensure 'Analysis ToolPak' Add-In is checked Company Name: Hydrogenics Corporation Use the TAB' key to move efficiently between enterable (bordered) fields Stock Ticker Symbol U.S. Stock Exchange Statement Year-end Dates HYGS NASDAO 12/31/2013 Options: NYSE, AMEX, NASDAQ Sequence: Current yr (Col.B) to prior yrs (Cols. C & D) Options: Thousands, Millions, Billions 12/31/2012 Financial Reports Rounded toThousands Supplemental Ratio Requirements 2013 2012 Type all entries, DO NOT cut & paste values 2013 Rent expense (in thousands):S 845 $ 906 Dividends per share Split adjusted prices, if applicable, appear under the web site's price chart End of year stock price (adjusted for splits)S 19.15 $ 6.77 Marketwatch.com URL for stock prices: http:/imarketwatch.comitools/qu http:imarketwatch.comtoolsiqu otes-historical asp?date-12%2F oteshistorical asp?date=12%2F 31%2F2013&symb-HYGS&site 31%2F2012&symb HYGS&site id mktw Select a URL cell, copy the contents and paste into your browser's Address area for each year. If the market was not open on the day provided, modify the web site's quote date to the previous weekday id mktw Check Figures 31.649 $ 40,070 $ 22,528 34,607 41,877 26,054 4,307 Balance Sheet Current Assets: S Total Assets: S Current Liabilities: S Total Stockholders' Equity: S Enter a negative amount to bracket check figures 6,161 $ Gross Profit = Net Sales-Cost of Goods Sold Use net sales amount when cost of goods sald isn't available Gross Profit: S Operating Profit: S Net Profit: S 12,061 6,783) S 8,908) $ 5,249 12,225 (12,797 Income Statement Cash Flow Net Flows from Operations: S Net Flows from Investing Activity: S Net Flows from Financing Activity: S (9,197) S$ (1,163) 400 6,491 971) S 8,669 $ No enterable flelds exlst below this polnt Type all entries, DO NOT cut & paste values Dec 31, 2013 Dec 31, 2012 Use a formula format n+n+n...] to add multiple 11,823$ Cash and cash equivalents Short-term investments Accounts receivable, net 1,389 4,725 139 12,821 13,020 5,024 11,848 743 Include 'Marketable securities' if listed separately Accounts receivable allowance Inventories, net Current deferred taxes Other current assets Property, plant, and equipment Less: accumulated depreciation Long-term investments Goodwill, net Other intangibles, net Other deferred taxes Other assets 124 If B/S does not have 'Allowance amounts, see Notes 2,280 11,888 10,204 4,715 Use formula fomat to summarize multiple line items 10,769 If Net PPE on B/S, add Accum. Depr. from Notes 9,370 Enter Accumulated Depreciation as a positive number 5,021 5,248 100 107 Use formula format to summarize multiple line item:s se formula format to summarize multiple line items 1,389 743 Use formula format to summarize multiple line items LIABILITIES 3,115 $ Accounts payable Short-term debt Current portion of long-term debt Accrued liabilities Income taxes payable Other current liabilities Long-term debt Deferred income taxes payable Other deferred liabilities Other liabilities Minority interest 5,285 548 5,556 553 3,162 Use formula fomat to summarize multiple line items 12,160 2,260 15,296 Use formula format to summarize multiple line items 1,288 7.305 1,816 227 8,576 Use formula format to summarize multiple line items 1.652 Use formula format to summarize multiple line items Included in Total Liabilities and Stockholder Equity total STOCKHOLDERS' EQUITY Preferred stock Common stock, par value plus additional paid-in capital Retained earnings (accumulated deficit) Treasury stock Accumulated other comprehensive income (loss) Other stockholders' equity 351,761 (345,351) (249) 341,508 Include 'Capital in excess of par value' if listed separately (336,443) Enter a negative amount to bracket the number Enter Treasury Stock as a negative number (758) Enter a negative amount to bracket the number Use formula format to s e multiple line items No enterable fields exist below this point Type all entries, DO NOT cut & paste values use a formula format [ =n+n+n ] to add multiple financial statement line items into a single cell Dec 31, 2013 Dec 31, 2012 Net sales Less: Cost of goods sold Sales, general and administrative Research and development (R&D) Restructuring, impairment, and amortization Purchased in-process Other operating expenses Other Income (expenses), net excluding Interest expense Interest expense Provision for (benefit from) income taxes Extraordinary items, net Discontinued operations, net Cumulative effect of changes in accounting principles, net Other after-tax Income (loss), net 42,413 S 30,352 16,275 31,697 26,448 13,027 6,073 Enter Cost of goods sold as a positlve number Use formula format to summarize multiple line items 5,534 Use formula format to summarize multiple line items R&D Use formula format to summarize multiple line items Enter a negative amount to bracket the number Enter Interest expense as a positive number Enter a negative amount to bracket the number Enter a negative amount to bracket the number Enter a negative amount to bracket the number Enter a negative amount to bracket the number Enter a negative amount to bracket the number (1,699) 426 (243) 329 (8,908) (12,797) Basic earnings per common share (1.04) S Enter a negative amount to bracket the number Enter following data only if Multiple Source information is available Multiple sources of revenue OnSite Generation Power Systems Replace with source3 title Replace with source4 title Other revenues If no value is available, leave cell blank If no value is available, leave cell blank If no value is available, leave cell blank If no value is available, leave cell blank 24,078 18,335 27,336 4.361 - These amounts are calculated and cannnot be changed Multiple sources of cost of goods sold OnSite Generation Power Systems Replace with source3 title Replace with source4 title Other cost of goods sold If no value is available, leave cell blank If no value is available, leave cell blank If no value is available, leave cell blank If no value is available, leave cell blank 20,397 9,955 23,556 2,892 - These amounts are calculated and cannnot be changed No enterable fields exist below this point Hydrogenics Corporation (HYGS/ NASDAQ) Annual Consolidated Statement of Cash Flows Amounts Rounded to: Thousands Results for the Years Ending Dec 31, 2013 Dec 31, 2012 Cash flows from operating activities (20,784) S (27,215) Income (loss) from continuing operations Adjustments to reconcile to net cash provided by operating activities Depreciation and amortization Stock-based compensation Restructuring and Increase (decrease) in (Gain) loss on sales of investments, acquisitions, and securities (Gain) loss on sales of property, plant, and equipment Other non-cash items, net Changes in assets and liabilities irment charges for deferred income taxes (Increase) decrease in receivables (Increase) decrease in inventories (Increase) decrease in other current assets Increase (decrease) in accounts payable accrued liabilities, and income taxes payable Increase (decrease) in deferred liabilities Other assets and liabilities, net Net cash provided by (used in) operating activities Cash flows from investing activities Purchases of property, plant, and equipment Sales of property, plant, and equipment Purchases of marketable securities and short-term investments Sales of marketable securities and short-term investments Acquisitions, net of cash acquired Other investing activities, net Net cash provided by (used in) investing activities Cash flows from financing activities Short-term borrowings, net Proceeds from long-term borrowings Payment of long-term borrowings Proceeds from sales of common stock Repurchase of common stock treasury stock Dividends to shareholders Other financing activities, net Net cash provided by (used in) financing activities Net cash provided by (used for) discontinued operations Effect of exchange rate changes on cash, net Net increase (decrease) in cash and equivalents for period Cash and equivalents, beginning of period (20,784) 13,020 (27,215) Cash and equivalents, end of period Supplemental disclosures of cash flow information Cash paid during the year for. Interest Income taxes (refunded) Hydrogenics Corporation (HYGS/NASDA Show Formulas Summary of Financial Statement Ratios Results for the Years Ending Dec 31, 2012 Dec 31, 2013 Liquidity Ratios Current ratio Quick ratio Cash flow liquidity Average collection period Days inventory held Days payable outstanding 1.55 times 0.95 times (0.35) times 41.00 days 155.00 days 38.00 days 158 days 1.45 times 0.97 times (0.55) times 58.00 days 164.00 days 73.00 days 149 days Cash conversion cycle Activity Ratios Accounts receivable turnover Inventory turnover Payables turnover Fixed asset turnover otal asset turnover 8.98 times 2.37 times 9.74 times 25.19 times 1.02 times 6.31 times 2.23 times 5.00 times 22.66 times 0.74 times Leverage Ratios 84.56 % 23.02 % Debt ratio Long-term debt to total capitalization Debt to equity Financial leverage (FL) Times interest earned Cash interest coverage Fixed charge coverage Cash flow adequacy 79.02 % 26.84 % 5.32 times 6.73 times (22.89) times 8.37 times 9.90 times (42.09) times (7.01) times (10.48) times Profitability Ratios Gross profit margin Operating profit margin Net profit margin Cash flow margin Return on assets (ROA) 28.44 % (22.99) % (49.00) % (49.00) % (50.13) % (337.35) % (50.13) % 16.56 % (43.68) % or Return on investment (ROI) Return on equity (ROE) Cash return on assets (85.86) % (63.85) % (631.88) % (63.85) % Market Ratios Earnings per share Price-to-earnings Dividend payout Dividend yield N/M N/M NOTES: If a ratio's numerator and/or denominator equals zero, no ratio is displayed N/M" indicates a calculated ratio is not meaningful for analysis lydrogenics Corporation (HYGS7 NASDAQ Annual Common Size Balance Sheet Summary percentages in italics will not foot due to rounding Results as of Dec 31. 20 13 Dec 31, 2012 ASSETS Current Assets Cash and cash equivalents Short-term investments 28 5% 30.5% 1.7% 32.3% 31.9% Total cash and short-term investments Accounts receivable, net Inventories, net Current deferred taxes Other current assets Total current assets 30.9% 0.0% 27.8% 0.0% 79 7% 28.7% 24 6% 82 9% Property, plant, and equipment Less: accumulated depreciation 25.3% Net property, plant, and equipment Long-term investments Goodwill, net Other intangibles, net Other deferred taxes Other assets Total assets 3.3% 0.0% 11.8% 0.3% 0.0% 1-7% 12.7% 0 2% 0.0% 100.0% 100.0% LIABILITIES Current Liabilities 12.4% 0.0% Accounts payable Short-term debt Current portion of long-term debt Accrued liabilities Income taxes payable Other current liabilities Total current liabilities 0.0% 134% 0.0% 35.9% 57.0% 3.0% 0.5% 20.1% 3 9% 84 6% 0.0% 29. 3% Long-term debt Deferred income taxes payable Other deferred liabilities Other liabilities Total liabilities 0.0% 17.6% 79.0% 0.0% Minority interest STOCKHOLDERS' EQUITY Preferred stock Common stock, par value plus additional paid-in capital Re 0.0% 848 5% (833,0%) 0.0% 0.0% 801 3% (789.4%) tained earnings (accumulated deficit) Treasury stock Accumulated other comprehensive income (loss) Other stockholders' equity Total stockholders' equity 0 0% 0 0% 14.9% 10.1% Total liabilities and stockholders' equity 93.9% 94.7% Hydrogenics Corporation (HYGS/ NASDAQ) Annual Common Size Income Statement Summary percentages in italics will not foot due to rounding Results for the Years Ending Dec 31, 2013 Dec 31, 2012 100.0% 71.6% 28.4% 38.4% 13.0% 00% 00% 00% 51.4% 100.0% 83.4% 16.6% 41.1% 19.2% 0.0% 00% 0.0% 60.2% (43.7%) 08% (44.4%) 1.0% (45.5%) 0.0% (45.5%) 0.0% 0.0% 0.0% 40.4% Net sales Less: Cost of goods sold Gross profit Sales, general and administrative Research and development (R&D) Restructuring, impairment, and amortization Purchased in-process R&D Other operating expenses Total operating expenses (23.0%) 40% (27.0%) 1.0% (28.0%) 00% (28.0%) 0.0% 0.0% 0.0% 21.0% Operating profit (loss) Other income (expenses), net excluding interest expense Earnings (loss) before interest and taxes Interest expense Earnings (loss) before taxes Provision for (benefit from) income taxes Earnings (loss) after taxes Extraordinary items, net Discontinued operations, net Cumulative effect of changes in accounting principles, net Other after-tax income (loss), net Net profit (loss) 49.0% 85.9%) Effective tax rate N/M N/M Hydrogenics Corporation (HYGS/NASDAQ) Annual Common Size Multiple Source Revenue & COGS Summary percentages in italics will not foot due to rounding Results for the Years Ending Dec 31, 2013 Dec 31, 2012 Revenues by Source as a % of Net Sales OnSite Generation Power Systems Replace with sources title Replace with source4 title Other revenues 56.8% 43.2% 0.0% 0.0% 00% 100.0% 86.2% 13.8% 0.0% 0.0% 00% 100.0% Summary of revenue sources as a % of net sales COGS as a % of Associated Revenue Source 86.2% 66 . 3% 00% 00% 0.0% 0.0% 0.0% OnSite Generation Power Systems Replace with source3 title Replace with source4 title Other cost of goods sold 84.7% 54.3% 0.0% 00% 0.0% 00% 0.0% Gross Profit Margin for Associated Revenue Source 15.3% 45.7% 0.0% 0.0% 0.0% 13.8% 337% 0.0% 0.0% 0.0% 0.0% 0.0% OnSite Generation Power Systems Replace with source3 title Replace with source4 title Other revenues 0.0% 0.0% Hydrogenics Corporation (HYGS/ NASDAQ) Annual Summary Analysis Statement of Cash Flows Summary percentages in talics do not foot due to rounding differences Results for the Years Ending Dec 31, 2013 Dec 31, 2012 Inflows Proceeds from operating activities Sales of property, plant, and equipment Sales of marketable securities and short-term investments Divestiture of acquisitions, net of cash acquired Proceeds from other investing activities, net Proceeds from short-term borrowings, net Proceeds from long-term borrowings Proceeds from sales of common stock Proceeds from other financing activities, net Proceeds from discontinued operations Gains from effect of exchange rate changes on cash, net Total Inflows Outflows 27,215 100.0 Losses from operating activities Purchases of property, plant, and equipment Purchases of marketable securities and short-term investments Acquisitions, net of cash acquired Losses from other investing activities, net Payment of short-term borrowings, net Payment of long-term borrowings Repurchase of common stock treasury stock Payment of dividends to shareholders Payment of other financing activities, net Losses from discontinued operations Losses from effect of exchange rate changes on cash, net 20,784 100.0 Total Outflows 20,784 100.0 S 27,215 100.0 Net increase (decrease) in cash and cash equivalents (20,784) (27,215) Hydrogenics Corporation (HYGS/ NASDAQ) Additional Ratio Analysis Show Formulas Growth Rate Comparisons Between 2013 vs. 2012 2012 vs. 0 Selected Income Statement Growth Rates Sales growth rate Gross profit growth rate Operating expenses growth rate Operating profit growth rate Net profit growth rate 33.81 % 129.78 % 14.23 % 29.58 % 23.63 % N/M N/M N/M N/M Accounts Receivable Analysis Sales growth rate Gross accounts receivable growth rate Accounts receivable allowance growth rate 33.81 % (5.52) % 12.10 % N/M Results for the Years Ending Dec 31, 2013 2.86 % Dec 31, 2012 2.41 % Allowance as a % of gross accounts receivable NOTES: "N/M" indicates a calculated rate is not meaningful for analysis
