Walmart
eBay
Please help me with my project Research any two companies in a similar field (i.e. producing similar goods or services) using the library and internet resources. Download their annual reports for the year, preferably 2019 or 2020, and answer the question below. a. Use their summary of the profits and loss account, the balance sheet, and the cash flow statement and report the figures over the last five years. b. Using financial statement ratio analysis to determine the following for each of the two companies you selected for the latest of the two years you have to financial statements for (you can use multiple ratios for each element): Profitability Efficiency Liquidity Investment Financial gearing Walmart Inc. Consolidated Statements of Income Fiscal Years Ended January 31, 2020 2019 2018 s 519.926 $ 4,038 523.964 510,3295 4,076 514,405 495,761 4,582 500,343 394,605 108,791 20,568 385 301 107,147 21,957 373,396 106,510 20,437 (Amounts in millions, except per share data) Revenues: Net sales Membership and other income Total revenues Costs and expenses: Cost of sales Operating, selling, general and administrative expenses Operating income Interest: Debt Finance, capital lease and financing obligations Interest income Interest, net Loss on extinguishment of debt Other (gains) and losses Income before income taxes Provision for income taxes Consolidated net income Consolidated net income attributable to noncontrolling interest Consolidated net income attributable to Walmart 1.975 371 2.262 337 (189) 2,410 (217) 2,129 1.978 352 (152) 2,178 3.136 15.123 4,600 (1.958) 20.116 4,915 15,201 (320) 14,881 S 8,368 11,460 4,281 7.179 (509) 6,670 10.523 (661) 9.862 Net income per common share: Basic net income per common share attributable to Walmart Diluted net income per common share attributable to Walmart S 5.225 5.19 2.28 $ 2.26 3.29 3.28 Weighted-average common shares outstanding: Basic Diluted 2,850 2.868 2.929 2.945 2.995 3,010 Dividends declared per common share s 2.12 $ 2.08 $ 2,04 See accompanying notes . Walmart Inc. Consolidated Balance Sheets As of January 31, 2020 2019 (Amounts in millions) ASSETS Current assets: Cash and cash equivalents Receivables, net Inventories Prepaid expenses and other Total current assets 9,465 s 6,284 44,435 1,622 61,806 7,722 6,283 44.269 3,623 61,897 104,317 105,208 17,424 4,417 Property and equipment, net Operating lease right-of-use assets Finance lease right-of-use assets, net Property under capital lease and financing obligations, net Goodwill Other long-term assets Total assets 31.073 16,567 236,495 S 7,078 31,181 14,822 219,295 S LIABILITIES AND EQUITY Current liabilities: Short-term borrowings Accounts payable Accrued liabilities Accrued income taxes Long-term debt due within one year Operating lease obligations due within one year Finance lease obligations due within one year Capital lease and financing obligations due within one year Total current liabilities 5755 46,973 22,296 280 5,362 1.793 511 5.225 47,060 22.159 428 1,876 729 77,477 77,790 43,520 Long-term debt Long-term operating lease obligations Long-term finance lease obligations Long-term capital lease and financing obligations Deferred income taxes and other 43,714 16.171 4,307 6,683 11.981 12,961 Commitments and contingencies Equity: Common stock Capital in excess of par value Retained eamings Accumulated other comprehensive loss Total Walmart shareholders' equity Noncontrolling interest Total equity Total liabilities and equity 284 3,247 83.943 (12.805) 74,669 288 2.965 80,785 (11,542) 72,496 7,138 79,634 219.295 6,883 81,552 236,495 S s See accompanying notes. Walmart Inc. Consolidated Statements of Cash Flows Fiscal Years Ended January 31, 2019 2018 2020 s 15,201 $ 7.179 $ 10,523 10,529 (Amounts in millions) Cash flows from operating activities: Consolidated net income Adjustments to reconcile consolidated net income to net cash provided by operating activities: Depreciation and amortization Unrealized (gains) and losses (Gains) and losses for disposal of business operations Asda pension contribution Deferred income taxes Loss on extinguishment of debt Other operating activities Changes in certain assets and liabilities, net of effects of acquisitions: Receivables, net Inventories Accounts payable Accrued liabilities Accrued income taxes Net cash provided by operating activities 10,987 (1.886) 15 (1,036) 320 10,678 3,516 4,850 (499) (304) ) 3,136 1981 1,734 1.210 154 (300) (274) 186 (93) 25.255 (368) (1.311) 1,831 183 (40) 27,753 (1,074) (140) 4,086 928 (557) 28,337 Cash flows from investing activities: Payments for property and equipment Proceeds from the disposal of property and equipment Proceeds from the disposal of certain operations Payments for business acquisitions, net of cash acquired Other investing activities Net cash used in investing activities (10,705) 321 833 (56) (10,344) 519 876 (14,656) (431) (24,036) (10,051) 378 1,046 (375) (77 (9,079) 479 (9,128) (4,656) 5,492 (1,907) (53) 15,872 (3,784) Cash flows from financing activities: Net change in short-term borrowings Proceeds from issuance of long-term debt Repayments of long-term deht Premiums paid to extinguish debt Dividends paid Purchase of Company stock Dividends paid to noncontrolling interest Purchase of noncontrolling interest Other financing activities Net cash used in financing activities (6,102) (6,048) (5,717) (555) 4,148 7,476 (13,061) (3,059) (6,124) (8.296) (690) (8) (261) (19.875) (7.410) (431) (908) (14,299) (629) (2.537) Effect of exchange rates on cash, cash equivalents and restricted cash (69) (438) 487 Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash at beginning of year Cash, cash equivalents and restricted cash at end of year 1.759 7,756 9515 742 7,014 7,756 (130) 7,144 7,014 Supplemental disclosure of cash flow information: Income taxes paid Interest paid s 3,616 S 2.464 3,982 $ 2.348 6,179 2.450 See accompanying notes . eBay Inc. CONSOLIDATED STATEMENT OF INCOME Year Ended December 31, 2020 2019 2018 (In millions, except per share amounts) $10,271 $8,636 $8,650 2,473 2,136 2,023 7,798 6,500 6,627 Net revenues Cost of net revenues Gross profit Operating expenses: Sales and marketing Product development General and administrative Provision for transaction losses Amortization of acquired intangible assets Total operating expenses Income from operations Interest and other, net Income from continuing operations before income taxes Income tax provision Income from continuing operations Income from discontinued operations, net of income taxes Net income 2,639 1,087 1,003 331 27 5,087 2,711 709 3,420 (878) $2,542 3,125 $5,667 2,368 976 1,005 262 28 4,639 1,861 (112) 1,749 (233) $ 1,516 270 $ 1,786 2,576 1,051 979 247 22 4,875 1,752 497 2,249 (121) $ 2,128 402 $2,530 $ 3.58 4.40 $ 7.98 $ 1.79 0.31 $ 2.10 $ 2.17 0.41 $ 2.58 Income per share-basic: Continuing operations Discontinued operations Net income per share-basic Income per share - diluted: Continuing operations Discontinued operations Net income per share-diluted Weighted average shares: Basic $ 3.54 4.35 $ 7.89 $ 1.77 0.32 2.09 $ 2.15 0.40 $ 2.55 710 849 99 980 991 Diluted 718 856 Walmart Inc. Consolidated Balance Sheets As of January 31, 2020 2019 (Amounts in millions) ASSETS Current assets: Cash and cash equivalents Receivables, net Inventories Prepaid expenses and other Total current assets 9,465 s 6,284 44,435 1,622 61,806 7,722 6,283 44.269 3,623 61,897 104,317 105,208 17,424 4,417 Property and equipment, net Operating lease right-of-use assets Finance lease right-of-use assets, net Property under capital lease and financing obligations, net Goodwill Other long-term assets Total assets 31.073 16,567 236,495 S 7,078 31,181 14,822 219,295 S LIABILITIES AND EQUITY Current liabilities: Short-term borrowings Accounts payable Accrued liabilities Accrued income taxes Long-term debt due within one year Operating lease obligations due within one year Finance lease obligations due within one year Capital lease and financing obligations due within one year Total current liabilities 5755 46,973 22,296 280 5,362 1.793 511 5.225 47,060 22.159 428 1,876 729 77,477 77,790 43,520 Long-term debt Long-term operating lease obligations Long-term finance lease obligations Long-term capital lease and financing obligations Deferred income taxes and other 43,714 16.171 4,307 6,683 11.981 12,961 Commitments and contingencies Equity: Common stock Capital in excess of par value Retained eamings Accumulated other comprehensive loss Total Walmart shareholders' equity Noncontrolling interest Total equity Total liabilities and equity 284 3,247 83.943 (12.805) 74,669 288 2.965 80,785 (11,542) 72,496 7,138 79,634 219.295 6,883 81,552 236,495 S s See accompanying notes. eBay Inc. CONSOLIDATED STATEMENT OF CASH FLOWS Year Ended December 31, 2020 2019 2018 (in millions) Cash flows from operating activities: Net income (Income) loss from discontinued operations, net of income taxes Adjustments: Provision for transaction losses Depreciation and amortization $ 5,667 $ 1,786 $ 2,530 (3,125) (270) (402) 262 629 431 247 635 Stock-based compensation 465 331 609 431 (237) 408 (770) (573) 52 (5) (133) (104) 104) 19 (108) 133 210 (11) Accrued 8 (755) 166 101 307 (20) 25 3,146 (727) 2,419 (304) (76) (98) 98 (33) (412) 31 (13) 2,210 448 2,658 Income taxes para 0 (88) 2,583 531 3,114 (Gain) loss on investments, net (Gain) loss on sale of business Deferred income taxes Change in fair value of warrant Other Changes in assets and liabilities, net of acquisition effects Accounts receivable Other current assets Other non-current assets Accounts payable expenses and other liabilities Deferred revenue payable and other tax liabilities Net cash provided by continuing operating activities Net cash provided by (used in) discontinued operating activities Net cash provided by operating activities Cash flows from investing acto activities: Purchases of property and equipment Purchases of investments Maturities and sales of investments Equity investment in Paytm Mall Proceeds from sale of equity investment in Flipkart Acquisitions, net of cash acquired Other Net cash provided by (used in) continuing investing activities Net cash provided by (used in) discontinued investing activities Net cash provided by investing activities Cash flows from financing activities: Proceeds from issuance of common stock Repurchases of common stock Tax withholdings related to net share settlements of restricted stock Proceeds from issuance of long-term debt, net Payments for dividends Repayment of debt Other Net cash (used in continuing financing activities (494) (523) (623) (32,887) (46,966) (28,115) 33,129 50,548 30,901 (160) 1,029 (302) 33 23 32 (219) 2,922 2.922 4,013 (135) (28) 3,794 2,787 2,894 90 (5,137) 106 109 (4,973) (4,502) Tax wards and units (202) (225) (175) 1765 (447) (1.771) (15) 15,690 (473) (1,550) 0 7,093 (750) (30) 15,398) 63 Year Ended December 31, 2020 2019 2018 (In millions) (2) (5,692) 7,091) (5,398) 77 (33) (75) 598 79 996 2.219 2,140 $ 1,594 $ 996 $ 2,219 23 22 48 (1,223) Net cash provided by (used in) discontinued financing activities Net cash (used in) financing activities Effect of exchange rate changes on cash, cash equivalents and restricted cash Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash at beginning of period Cash, cash equivalents and restricted cash at end of period Less: Cash, cash equivalents and restricted cash of held for sale business Less: Cash, cash equivalents and restricted cash of discontinued operations Cash, cash equivalents and restricted cash at end of period Supplemental cash flow disclosures of continuing operations: Cash paid for: Interest Interest on finance lease obligations Income taxes Noncash investing activities: Relinquishment of equity method investment 52 87 $ 1,571 $ 922 $2084 $ 271 $ 304 $ 314 $ 1 $ 1 $ $ 520 $ 270 $ 556 $ $ 266 Please help me with my project Research any two companies in a similar field (i.e. producing similar goods or services) using the library and internet resources. Download their annual reports for the year, preferably 2019 or 2020, and answer the question below. a. Use their summary of the profits and loss account, the balance sheet, and the cash flow statement and report the figures over the last five years. b. Using financial statement ratio analysis to determine the following for each of the two companies you selected for the latest of the two years you have to financial statements for (you can use multiple ratios for each element): Profitability Efficiency Liquidity Investment Financial gearing Walmart Inc. Consolidated Statements of Income Fiscal Years Ended January 31, 2020 2019 2018 s 519.926 $ 4,038 523.964 510,3295 4,076 514,405 495,761 4,582 500,343 394,605 108,791 20,568 385 301 107,147 21,957 373,396 106,510 20,437 (Amounts in millions, except per share data) Revenues: Net sales Membership and other income Total revenues Costs and expenses: Cost of sales Operating, selling, general and administrative expenses Operating income Interest: Debt Finance, capital lease and financing obligations Interest income Interest, net Loss on extinguishment of debt Other (gains) and losses Income before income taxes Provision for income taxes Consolidated net income Consolidated net income attributable to noncontrolling interest Consolidated net income attributable to Walmart 1.975 371 2.262 337 (189) 2,410 (217) 2,129 1.978 352 (152) 2,178 3.136 15.123 4,600 (1.958) 20.116 4,915 15,201 (320) 14,881 S 8,368 11,460 4,281 7.179 (509) 6,670 10.523 (661) 9.862 Net income per common share: Basic net income per common share attributable to Walmart Diluted net income per common share attributable to Walmart S 5.225 5.19 2.28 $ 2.26 3.29 3.28 Weighted-average common shares outstanding: Basic Diluted 2,850 2.868 2.929 2.945 2.995 3,010 Dividends declared per common share s 2.12 $ 2.08 $ 2,04 See accompanying notes . Walmart Inc. Consolidated Balance Sheets As of January 31, 2020 2019 (Amounts in millions) ASSETS Current assets: Cash and cash equivalents Receivables, net Inventories Prepaid expenses and other Total current assets 9,465 s 6,284 44,435 1,622 61,806 7,722 6,283 44.269 3,623 61,897 104,317 105,208 17,424 4,417 Property and equipment, net Operating lease right-of-use assets Finance lease right-of-use assets, net Property under capital lease and financing obligations, net Goodwill Other long-term assets Total assets 31.073 16,567 236,495 S 7,078 31,181 14,822 219,295 S LIABILITIES AND EQUITY Current liabilities: Short-term borrowings Accounts payable Accrued liabilities Accrued income taxes Long-term debt due within one year Operating lease obligations due within one year Finance lease obligations due within one year Capital lease and financing obligations due within one year Total current liabilities 5755 46,973 22,296 280 5,362 1.793 511 5.225 47,060 22.159 428 1,876 729 77,477 77,790 43,520 Long-term debt Long-term operating lease obligations Long-term finance lease obligations Long-term capital lease and financing obligations Deferred income taxes and other 43,714 16.171 4,307 6,683 11.981 12,961 Commitments and contingencies Equity: Common stock Capital in excess of par value Retained eamings Accumulated other comprehensive loss Total Walmart shareholders' equity Noncontrolling interest Total equity Total liabilities and equity 284 3,247 83.943 (12.805) 74,669 288 2.965 80,785 (11,542) 72,496 7,138 79,634 219.295 6,883 81,552 236,495 S s See accompanying notes. Walmart Inc. Consolidated Statements of Cash Flows Fiscal Years Ended January 31, 2019 2018 2020 s 15,201 $ 7.179 $ 10,523 10,529 (Amounts in millions) Cash flows from operating activities: Consolidated net income Adjustments to reconcile consolidated net income to net cash provided by operating activities: Depreciation and amortization Unrealized (gains) and losses (Gains) and losses for disposal of business operations Asda pension contribution Deferred income taxes Loss on extinguishment of debt Other operating activities Changes in certain assets and liabilities, net of effects of acquisitions: Receivables, net Inventories Accounts payable Accrued liabilities Accrued income taxes Net cash provided by operating activities 10,987 (1.886) 15 (1,036) 320 10,678 3,516 4,850 (499) (304) ) 3,136 1981 1,734 1.210 154 (300) (274) 186 (93) 25.255 (368) (1.311) 1,831 183 (40) 27,753 (1,074) (140) 4,086 928 (557) 28,337 Cash flows from investing activities: Payments for property and equipment Proceeds from the disposal of property and equipment Proceeds from the disposal of certain operations Payments for business acquisitions, net of cash acquired Other investing activities Net cash used in investing activities (10,705) 321 833 (56) (10,344) 519 876 (14,656) (431) (24,036) (10,051) 378 1,046 (375) (77 (9,079) 479 (9,128) (4,656) 5,492 (1,907) (53) 15,872 (3,784) Cash flows from financing activities: Net change in short-term borrowings Proceeds from issuance of long-term debt Repayments of long-term deht Premiums paid to extinguish debt Dividends paid Purchase of Company stock Dividends paid to noncontrolling interest Purchase of noncontrolling interest Other financing activities Net cash used in financing activities (6,102) (6,048) (5,717) (555) 4,148 7,476 (13,061) (3,059) (6,124) (8.296) (690) (8) (261) (19.875) (7.410) (431) (908) (14,299) (629) (2.537) Effect of exchange rates on cash, cash equivalents and restricted cash (69) (438) 487 Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash at beginning of year Cash, cash equivalents and restricted cash at end of year 1.759 7,756 9515 742 7,014 7,756 (130) 7,144 7,014 Supplemental disclosure of cash flow information: Income taxes paid Interest paid s 3,616 S 2.464 3,982 $ 2.348 6,179 2.450 See accompanying notes . eBay Inc. CONSOLIDATED STATEMENT OF INCOME Year Ended December 31, 2020 2019 2018 (In millions, except per share amounts) $10,271 $8,636 $8,650 2,473 2,136 2,023 7,798 6,500 6,627 Net revenues Cost of net revenues Gross profit Operating expenses: Sales and marketing Product development General and administrative Provision for transaction losses Amortization of acquired intangible assets Total operating expenses Income from operations Interest and other, net Income from continuing operations before income taxes Income tax provision Income from continuing operations Income from discontinued operations, net of income taxes Net income 2,639 1,087 1,003 331 27 5,087 2,711 709 3,420 (878) $2,542 3,125 $5,667 2,368 976 1,005 262 28 4,639 1,861 (112) 1,749 (233) $ 1,516 270 $ 1,786 2,576 1,051 979 247 22 4,875 1,752 497 2,249 (121) $ 2,128 402 $2,530 $ 3.58 4.40 $ 7.98 $ 1.79 0.31 $ 2.10 $ 2.17 0.41 $ 2.58 Income per share-basic: Continuing operations Discontinued operations Net income per share-basic Income per share - diluted: Continuing operations Discontinued operations Net income per share-diluted Weighted average shares: Basic $ 3.54 4.35 $ 7.89 $ 1.77 0.32 2.09 $ 2.15 0.40 $ 2.55 710 849 99 980 991 Diluted 718 856 Walmart Inc. Consolidated Balance Sheets As of January 31, 2020 2019 (Amounts in millions) ASSETS Current assets: Cash and cash equivalents Receivables, net Inventories Prepaid expenses and other Total current assets 9,465 s 6,284 44,435 1,622 61,806 7,722 6,283 44.269 3,623 61,897 104,317 105,208 17,424 4,417 Property and equipment, net Operating lease right-of-use assets Finance lease right-of-use assets, net Property under capital lease and financing obligations, net Goodwill Other long-term assets Total assets 31.073 16,567 236,495 S 7,078 31,181 14,822 219,295 S LIABILITIES AND EQUITY Current liabilities: Short-term borrowings Accounts payable Accrued liabilities Accrued income taxes Long-term debt due within one year Operating lease obligations due within one year Finance lease obligations due within one year Capital lease and financing obligations due within one year Total current liabilities 5755 46,973 22,296 280 5,362 1.793 511 5.225 47,060 22.159 428 1,876 729 77,477 77,790 43,520 Long-term debt Long-term operating lease obligations Long-term finance lease obligations Long-term capital lease and financing obligations Deferred income taxes and other 43,714 16.171 4,307 6,683 11.981 12,961 Commitments and contingencies Equity: Common stock Capital in excess of par value Retained eamings Accumulated other comprehensive loss Total Walmart shareholders' equity Noncontrolling interest Total equity Total liabilities and equity 284 3,247 83.943 (12.805) 74,669 288 2.965 80,785 (11,542) 72,496 7,138 79,634 219.295 6,883 81,552 236,495 S s See accompanying notes. eBay Inc. CONSOLIDATED STATEMENT OF CASH FLOWS Year Ended December 31, 2020 2019 2018 (in millions) Cash flows from operating activities: Net income (Income) loss from discontinued operations, net of income taxes Adjustments: Provision for transaction losses Depreciation and amortization $ 5,667 $ 1,786 $ 2,530 (3,125) (270) (402) 262 629 431 247 635 Stock-based compensation 465 331 609 431 (237) 408 (770) (573) 52 (5) (133) (104) 104) 19 (108) 133 210 (11) Accrued 8 (755) 166 101 307 (20) 25 3,146 (727) 2,419 (304) (76) (98) 98 (33) (412) 31 (13) 2,210 448 2,658 Income taxes para 0 (88) 2,583 531 3,114 (Gain) loss on investments, net (Gain) loss on sale of business Deferred income taxes Change in fair value of warrant Other Changes in assets and liabilities, net of acquisition effects Accounts receivable Other current assets Other non-current assets Accounts payable expenses and other liabilities Deferred revenue payable and other tax liabilities Net cash provided by continuing operating activities Net cash provided by (used in) discontinued operating activities Net cash provided by operating activities Cash flows from investing acto activities: Purchases of property and equipment Purchases of investments Maturities and sales of investments Equity investment in Paytm Mall Proceeds from sale of equity investment in Flipkart Acquisitions, net of cash acquired Other Net cash provided by (used in) continuing investing activities Net cash provided by (used in) discontinued investing activities Net cash provided by investing activities Cash flows from financing activities: Proceeds from issuance of common stock Repurchases of common stock Tax withholdings related to net share settlements of restricted stock Proceeds from issuance of long-term debt, net Payments for dividends Repayment of debt Other Net cash (used in continuing financing activities (494) (523) (623) (32,887) (46,966) (28,115) 33,129 50,548 30,901 (160) 1,029 (302) 33 23 32 (219) 2,922 2.922 4,013 (135) (28) 3,794 2,787 2,894 90 (5,137) 106 109 (4,973) (4,502) Tax wards and units (202) (225) (175) 1765 (447) (1.771) (15) 15,690 (473) (1,550) 0 7,093 (750) (30) 15,398) 63 Year Ended December 31, 2020 2019 2018 (In millions) (2) (5,692) 7,091) (5,398) 77 (33) (75) 598 79 996 2.219 2,140 $ 1,594 $ 996 $ 2,219 23 22 48 (1,223) Net cash provided by (used in) discontinued financing activities Net cash (used in) financing activities Effect of exchange rate changes on cash, cash equivalents and restricted cash Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash at beginning of period Cash, cash equivalents and restricted cash at end of period Less: Cash, cash equivalents and restricted cash of held for sale business Less: Cash, cash equivalents and restricted cash of discontinued operations Cash, cash equivalents and restricted cash at end of period Supplemental cash flow disclosures of continuing operations: Cash paid for: Interest Interest on finance lease obligations Income taxes Noncash investing activities: Relinquishment of equity method investment 52 87 $ 1,571 $ 922 $2084 $ 271 $ 304 $ 314 $ 1 $ 1 $ $ 520 $ 270 $ 556 $ $ 266
