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What is your assessment of Nucors financial performance during the 2013-2017 period shown in case Exhibit 3? How strong is the companys financial condition going
What is your assessment of Nucors financial performance during the 2013-2017 period shown in case Exhibit 3? How strong is the companys financial condition going into 2018?
2017 2016 2015 2014 2013 FOR THE YEAR Net sales $20,252.4 $16.208.1 $16,439.3 $21.105.1 $19,052.0 Costs, expenses and other Cost of products sold 17.683.0 14,182.2 15,325.4 19,25 5.9 17,624.0 Marketing, administrative and other expenses 687.5 596.8 459.0 520.8 467.9 Equity in (earnings) losses of minority-owned enterprises (41.7) (38.8) (5.3) (13.5) (9.3) Impairment and losses on assets 244.8 25.4 14.0 Interest expense, nel 173.6 169.2 173.5 169.3 146.9 Total 18.502.4 14,909.5 16,197.4 19.957.9 18.243.5 Earnings before income taxes and non-controlling interests 1,750.0 1,298.7 241.9 1.147.3 808.6 Provision for income taxes 369.4 3982 48.8 368.7 214.9 Net earnings (loss) 1,380.6 900.4 193.0 815.8 593.7 Less earnings attributable to the minority interest partners of Nucor's joint ventures 61.9 104.1 1123 101.8 Net earnings (loss) attributable to Nucor stockholders $ 1,318.7 $796.3 S80.7 S679.3 $499.4 Net earnings (loss) per share: Basic $4.11 $2.48 S0.25 $2.22 $1.52 Diluted 4.10 2.48 0.25 2.22 1.52 Dividends declared per share $1.5125 $1.5025 $1.4925 $1.4825 $1.4725 Percentage of net earnings to net sales 6.5% 4.9% 0.5% 3.2% 2.6% Return on average stockholders' equity 17.2% 10.4% 1.0% 8.4% 6.2% Capital expenditures $448.6 $617.7 $364.8 $568.9 $1,230.4 Acquisitions (net of cash acquired) 544.0 474.8 19.1 768.6 Depreciation 635.8 613.2 625.8 652.0 535.9 Sales per employee (O00s) 820 690 690 921 859 AT YEAR END Cash, cash equivalents, and short-term investments $999.1 $2,046.0 $2,039.5 $1,124.1 S1,511.5 Current assets 6,824.4 6,506.4 5,854.4 6,808.8 6,814.2 Current liabilities 2.824.8 2,390,0 1.385.2 2,097.8 1,960.2 Working capital 3.999.6 4,116.4 4.469.2 4,711.0 4,854.0 Cash provided by operating activities 1,051.3 1,737.5 2.157.0 1,342.9 1,077.9 Current ratio 2.4 2.72 4.2 3.1 3.3 Property, plant and equipment $5,093.2 $5.078.7 $4,891.2 $5.287.6 $4,917.0 Total assets 15,841.3 15,223.5 14,327,0 15.956.5 15,578.1 Long-term debt (including current maturities) 3,742.2 4,339.1 4,337.1 4,350.6 4,350.9 Percentage of long-term debt to total capital 29.2% 34.5% 35.6% 36.0% 35.6% Stockholders' equity 8,739.0 7,879.9 7,416.9 7.772.5 7.645.8 Shares outstanding (000s) 317,962 318,737 317,962 319,033 318,328 Employees 25.100 23.900 23,700 23,600 22,300Step by Step Solution
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