Analisis Financiero de Apple

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Transcript of Analisis Financiero de Apple

Bienveni dos APPAnlisis FinancieroGuanita Velzquez Richard Lee Correa Click to edit Master subtitle style Mary Suarez Lourdes Prieto Glenda Gonzales Charlenne Rivera ACCO 201 Prof. Jorge

LE

4/22/12 Richard Presentador

ESTAN OBSERVANDO A:

N. Navia

Nos Encontramos en la Pgina 1

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Agenda PRESENTACIONTpicos que estaremos presentandoI. II. III.

Trasfondo histrico, razones de liquidez / Guanita Velzquez Estados financieros y Anlisis final / Richard Lee Correa Razones de actividad / Mary Suarez

IV. Click to editRazones de rentabilidad / Glenda Gonzales Master subtitle style

Razones de rentabilidad y cobertura / Lourdes PrietoV. VI.

Razones de cobertura / Charlenne Rivera

4/22/12 Richard Presentador

ESTAN OBSERVANDO A:

ACCO 201 Prof. Jorge

N. Navia

Nos Encontramos en la Pgina 2

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Fundad oresAnlisis Financiero de APPLE

Lawrence Edward Page naci el 26 de marzo de 1973 en Michigan desde nio soaba con ser un gran empresario, pero jams pens el xito que iba to obtener. subtitle style a edit Master Click Joven judo nacido en Mosc para el 1973, de familia relativamente acomodada el cual se mudo junto con estos a la edad de 6 aos para los Estados Unidos sin pensar el xito que lograra en su vida.4/22/12 Guanita Presentador

S te v e Jo

bs

ESTAN OBSERVANDO A:

ACCO 201 Prof. Jorge

Steve iak WoznNos Encontramos en la Pgina 3

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Google es una empresa cuyo objetivo consiste en organizar la informacin mundial y hacerla accesible y til de manera universal Fue fundada en septiembre de 1998 Click to edit Master subtitle style Fundadores: Larry Page y Sergye Brin

Hist oriaHistoria de APPLE

4/22/12 Guanita Presentador

ESTAN OBSERVANDO A:

ACCO 201 Prof. Jorge

N. Navia

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Income STATEMENTIncome (In millions, except share amounts which are reflected in Statement en thousands and per share amounts) millonesRevenue: Net sales 65,225 Cost of sales 39,541 25,684 Gross margin Operating expenses: Research and development 1,782 Selling, general and administrative 5,517 Total operating expenses 7,299 18,385 Operating income Other income and expense 155 Click to edit Master subtitle 18,540 Income before provision for income Provision for income taxes 4,527 Net income $ 14,013 Earnings per common share: Basic $ 15.41 Diluted $ 15.15 Shares used in computing earnings per share: Basic 909,461 Diluted 924,712ESTAN OBSERVANDO A:dor

Anlisis HorizontalIncremento / Reduccin

Sep. 25, 2010 Sep. 26, 2009

42,905 25,683 17,222

1,333 4,149 5,482 11,740 326 style 12,066 3,831 $ 8,235 $ $ 9.22 9.08

893,016 907,005Nos Encontramos en la Pgina 5

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Balance SHEETAssets en millones(In m illions)

Anlisis HorizontalIncremento / Reduccin

Sep. 25, 2010 Sep. 26, 2009

Current assets: Cash and cash equivalents $ 11,261 $ Short-term marketable securities 14,359 Accounts receivable, less allowances of $55 and $52, respectively 5,510 Inventories 1,051 Deferred tax assets 1,636 Vendor non-trade receivables 4,414 Other current assets 3,447 Click to edit Master subtitle style 41,678 Total current assets Long-term marketable securities 25,391 Property, plant and equipment, net 4,768 Goodwill 741 Acquired intangible assets, net 342 Other assets 2,263 Total assets $ 75,183 $ESTAN OBSERVANDO A:dor

5,263 18,201 3,361 455 1,135 1,696 1,444 31,555 10,528 2,954 206 247 2,011 47,501Nos Encontramos en la Pgina 6

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N. Navia

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Balance SHEETLiabilities en millones(In millions) Current liabilities: Accounts payable Accrued expenses Deferred revenue Total current liabilities Deferred revenue non-current Other non-current liabilities Total liabilities Shareholders equity:Common stock, no par value; Click to edit 1,800,000,000 shares authorized;Master 915,970,050 and 899,805,500 shares issued and outstanding, respectively

Anlisis HorizontalIncremento / Reduccin

Sep. 25, 2010 Sep. 26, 2009

$ 12,015 5,723 2,984 20,722 1,139 5,531 27,392

$

5,601 3,852 2,053 11,506 853 3,502 15,861

subtitle style10,668 37,169 (46) 47,791 $ 75,183 8,210 23,353 77 31,640 $ 47,501Nos Encontramos en la Pgina 7

Retained earnings Accumulated other comprehensive (loss)/income Total shareholders equity Total liabilities and shareholders' equityESTAN OBSERVANDO A:dor

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Cash FLOWCash and cash equivalents, beginning of the year Operating activities: Net incomeAdjustments to reconcile net income to cash generated by operating activities:

Anlisis VerticalIncremento / Reduccin

Cash generated by (In millions) operating activities

Sep. 25, 2010

Sep. 26, 2009

201 0

$

5,263 14,013

$ 11,875 8,235

Depreciation, amortization and accretion Stock-based compensation expense Deferred income tax expense Loss on disposition of property, plant and equipmentChanges in operating assets and liabilities:

1,027 879 1,440 24

734 710 1,040 26

Click to edit Master subtitle style(2,142) (596) (2,718) (1,514) (120) 6,307 1,217 778 18,595 (939) 54 586 163 (902) 92 521 (161) 10,159

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Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Other assets Accounts payable Deferred revenue Other liabilities Cash generated by operating activities

4/22/12 Richard Presentador

ESTAN OBSERVANDO A:

ACCO 201 Prof. Jorge

N. Navia

Nos Encontramos en la Pgina 8

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Cash FLOW

Anlisis VerticalIncremento / Reduccin

Cash used in investing activities (In m illio n s)Sep. 25, 2010 Sep. 26, 2009

201 0

In vestin g activities: Purchases of marketable securities (57,793) Proceeds from m aturities of m arketable securities 24,930 Proceeds from sales of m arketable securities 21,788 Purchases of other long-term investments (18) Paym ents made in connection with business Click to edit Master subtitle acquisitions, net of cash acquired (638) Paym ents for acquisition of property, plant and equipment (2,005) Paym ents for acquisition of intangible assets (116) O ther (2) (13,854) C ash u sed in in vestin g activitiesESTAN OBSERVANDO A:dor

(46,724) 19,790 10,888 (101)

style0 (1,144) (69) (74) (17,434)

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N. Navia

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Cash FLOW

Anlisis VerticalIncremento / Reduccin

Cash used in financing activities (In m illio n s)S ep . 25, 2010 ep . 26, 2009 S

201 0

F in an cin g activities: Proceeds from issuanc e of com m on stoc k 912 475 E xcess tax benefits from stoc k-based com pensation 751 270 Taxes paid related to net s hare settlem ent of equity awards (406) (82) C ash g en erated b y fin an cin g 1,257 663 activities Click to edit Master subtitle style In crease/(d ecrease) in cash an d cash 5,998 (6,612) eq u ivalen ts C ash an d cash eq u ivalen ts, en d o f th e year $ 11,261 $ 5,263 S upplem ental cash flow disclosure: C ash paid for incom e taxes , net 2,697 2,997

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4/22/12 Richard Presentador

ESTAN OBSERVANDO A:

ACCO 201 Prof. Jorge

N. Navia

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Las ventas del nuevo IPHONE 4 un incremento de 12.1 billones comparado con el 2009 En abril de 2010 introducen el IPAD, represento un 8% de las ventas Las venas de computadoras aumentaron un Click to edit Master subtitle style 26% vs 2009, esto debido a la confiabilidad de estos sistemas Las ventas en Itunes incrementaron un 23% en el 2010 Un incremento de 2% en ventas de ipods Durante el 2010 APPLE realizo varias ESTAN ACCO adquisiciones que incrementaron el Goodwill; OBSERVANDO A: 4/22/12 Richard Presenta 201 Prof. Intrinsity, Siri and Poly9 Jorge N. Navia dorNos Encontramos en la Pgina 11

Causas de CambiosAnlisis de estos estados

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4/22/12 Richard Presentador

ESTAN OBSERVANDO A:

ACCO 201 Prof. Jorge

N. Navia

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4/22/12 Richard Presentador

ESTAN OBSERVANDO A:

ACCO 201 Prof. Jorge

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Razones LIQUIDESAnlisis de razones financieras

10 9 8 7 6 5Click to edit Master subtitle style 4 3 2 1 0

4/22/12 Guanita Presentador

ESTAN OBSERVANDO A:

ACCO 201 Prof. Jorge

N. Navia

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Razones LIQUIDESAnlisis de razones financieras

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4/22/12 Guanita Presentador

ESTAN OBSERVANDO A:

ACCO 201 Prof. Jorge

N. Navia

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Razones LIQUIDESAnlisis de razones 12 financieras

10 8 6

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4/22/12 Guanita Presentador

ESTAN OBSERVANDO A:

ACCO 201 Prof. Jorge

N. Navia

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Razones ACTIVIDADAnlisis de razones financieras

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4/22/12 Mary Presentador

ESTAN OBSERVA